THE dramatic advance of Libyan rebels over the forces of longtime strongman Muammar Gaddafi offers vindication, at least for now, for President Barack Obama’s decision to refrain from using US troops on Libyan soil and to let Nato take the lead in degrading Gaddafi’s military power.

The US is likely to average 95,000 more jobs each month this year while personal savings will remain high as credit remains tight, according to a White House report released today.

US President George W. Bush got a second bloc of world leaders to endorse comprehensive action to remedy the global financial crisis. But his successor, Barack Obama, is already setting the coming economic agenda.

Wall Street rose sharply today as investors grew more confident that the Federal Reserve will lower interest rates next week, even after its chairman gave no clues about the central bank’s intentions.

Reports of extensive damage and photos of fallen oil platforms in the Gulf of Mexico sent crude oil prices surging above $70 today, as the realities of the long-term damage from Hurricane Katrina began to sink in.