- Wall Street in Chaos:
Two Wall Street banks, Lehman Brothers and Merrill Lynch are in turmoil. Merrill Lynch has agreed to sell itself to Bank of America to stem their mounting financial crisis, while Lehman Brothers has filed for bankruptcy. Added to this, insurance giant AIG has sought $40 billion from the federal reserve to try and save itself. The two banks employ 100,000 people, and shock waves are expected throughout the economy.
- 2,000 Saved From Hurricane Ike:
In the biggest search and rescue operation in Texas history, almost 2,000 people have been saved from flooded streets following Hurricane Ike. The death toll from the storm has risen to 30 people spread over eight states. Shelters in San Antonio and Austin are crowded with survivors with no home to return to.
- Stampede in Indonesia:
About 21 people have been killed and more injured in a stampede in Indonesia as people waited for charity handouts from a wealthy family. The giveaway sums totaled about $4 and are a tradition during the month of Ramadan. The giveaway tradition is part of Zakat, where wealth Muslims give away a portion of their money to the poor every year. Footage shows women being pushed up against the fence in the crush of people, and most of those killed were women.