Eugene (Oregon US), Oct.11 (ANI): Eighty-one percent of Americans surveyed in a national poll agree that the financial crisis "poses a greater threat to the quality of life than does the threat of terrorism."

On a personal level, 41percent of the 802 respondents were very angry about the current financial challenges and 32 percent were moderately angry. Respondents were similarly fearful, worried, and sad.

Only 19 percent felt they could adjust to what happens because of the financial crisis; 51 percent said they had no or only slight influence for controlling the impacts on their lives.

Seventy-eight percent expect to postpone major purchases (large appliances or cars).

The survey was conducted by a five-member team, including three researchers with University of Oregon appointments, by Decision Research, a think tank for risk assessment based in Eugene.

Asked a series of questions to gauge who the participants trust to meet the economic challenge, respondents gave no one a firm endorsement.

Democratic presidential candidate Barack Obama received the highest nod, but at only 23 percent. His Republican rival John McCain drew 16 percent of their trust. Support of President Bush, Congress and the Treasury Secretary Henry Paulson ranged from 5 percent to 7 percent. Business leaders drew only 2 percent.

Almost half (48 percent) of respondents had investments in stocks or mutual funds; another 4 percent planned to invest in stocks and mutual funds in the next 12 months. Of these respondents, 31 percent said they were very likely or likely to change their investments during the next week to reduce their financial risk.

When asked what they expected their average returns to be over the next year, 27 percent expected a negative rate 9 percent expected zero or no return, and 67 percent expected no more than 5 percent. (ANI)

London, Oct.11 (ANI): The two alleged terrorists – Bilal Abdulla and Kafeel Ahmed - who left car bombs near a busy London nightclub, used tourist rickshaws to escape the scene in an attempt to conceal their identities from CCTV cameras, a court has been told.

Bilal Abdulla, an Iraqi doctor working at an NHS hospital near Glasgow, and his Indian-born accomplice, Kafeel Ahmed, fled to a hotel while firefighters dealt with the cars left outside Tiger Tiger club in the West End.

Unaware that they were dealing with potentially devastating explosive devices, the firefighters dragged gas canisters from one of two Mercedes saloons, The Independent quoted prosecutors as telling a court here.

According to the paper, the two men tried to take their own lives shortly after the failed bombing by driving a jeep, rigged to explode in a fireball, into Glasgow Airport. They were part of a terrorist cell that intended the London attack to be the beginning of a series of car bombings using devices triggered remotely with mobile phones.

The case continues. (ANI)

Mumbai/New Delhi, Oct 11 (ANI): Private sector bank ICICI has welcomed the Reserve Bank of India's (RBI) measures to ease the credit squeeze. The RBI cut the Cash Reserve Ratio (CRR) by 1.5 percentage points to 7.5 per cent, saying the move would free up around 600 billion Indian rupees in funds.

Finance Minister P. Chidambaram said the authorities would take further steps to provide more funds to the banking sector.

ICICI Joint Managing Director Chandra Kochchar termed the RBI's move as a welcome step.

"Rather than advantage, it's a necessity. The liquidity situation has become very tight in the past few days. It's a welcome step the RBI has taken by releasing liquidity to the extent of about 60, 000 crores in the system by CRR (Cash Reserve Ratio) cut," Kochchar said.

Tight liquidity also prompted the government to call off an auction for two billion dollars worth of government bonds.

But a major industrial lobby said the move could adversely affect growth.

"We are at a very critical juncture, where there is a serious credit crunch which the government itself has come up with. No banks are going to fail unlike in the West, but industry, services and agriculture will be denied of credit that will in turn lower growth rate and most importantly lower confidence," said Amit Mitra, general secretary, Federation of Indian Chambers of Commerce and Industry.

A global round of interest rate cuts this week failed to cap overnight rates, which more than doubled from Wednesday's closing levels of around ten per cent.

Indian authorities slashed banks' reserve requirement on Friday and pledged more funds to ease a credit squeeze that drove short-term borrowing rates to9-month highs.

The rupee hit an all-time low of 49.30 per dollar in early trade, bringing this year's losses to 20 per cent before it regained some ground with the help of state-run banks selling dollars and the cash reserve cut. The reserve easing also helped India's battered stocks recoup some of the early losses. (ANI)

New Delhi, Oct 10 (ANI): The Reserve Bank of India on Friday reduced the Cash Reserve Ratio (CRR) by 150 basis points to 7.5 per cent from 9 per cent.

The move will come into effect from October 11.

"Accordingly, on a review of the evolving liquidity situation in the context of global and domestic developments it has been decided to reduce CRR by 150 basis points to 7.50 per cent with effect from the fortnight beginning October 11, 2008 instead of 50 basis points reduction announced on October 6, 2008," RBI said in a statement here.

The CRR cut will release Rs 60,000 crore into the Indian financial system. (ANI)