Daily News Brief

NEW YORK – Euro Falls to Four-Year Low

Panic that rising short-term borrowing costs could prevent economic growth is causing investors to seek shelter in other stocks and currencies. For the time being, the slide strengthens the dollar, but continued European crisis could spread through world markets. American banks hold hundreds of billions in European debt and are an important source of liquidity for those markets.

DUBLIN – Volcanic Ash Grounds More Flights

Volcanic ash from an explosion last Thursday closed airports in Dublin, Manchester, and Northern Ireland yesterday.

NEW ORLEANS – Some Success in Gulf Oil Leak

BP reported that they had initial success yesterday, using a mile-long pipe to capture and divert oil to a ship some 5,000 feet above. It remains unknown how much oil was diverted or what percentage of the oil spilling into the gulf was captured.

TEHRAN – Iran to Send Low-Grade Uranium to Turkey, but Vows to Continue Enriching

Iran agreed to ship low-grade uranium outside of its borders for carefully monitored enrichment, fulfilling a deal made with the International Atomic Energy Agency last October. The 3.5 % enriched uranium will be converted to fuel suitable for medical and energy purposes. Iran did however, say that it will continue enriching its low-grade uranium to as high as 20%, the threshold for weapons-grade uranium, a move sure to fan the flames of tensions with the West.