Dollar prospers from foreign turmoil

THE Australian dollar has bounded to its highest level since the lowest point of financial crisis, driven by a growing sense of financial gloom in the US.

The dollar struck a post-crisis high of US94.57¢ yesterday, urged by speculation the US Federal Reserve may soon boost the brink of US dollars through the less conservative method of ''quantitative easing''.

Market rumours be rife that the Fed will recommence next week the program which involves purchasing US government bonds to prop up declining investor self-assurance. The reports provoked a plunge - based on wide selling - in the world's reserve currency.

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Mideast peace talks round concludes with no deal

Palestinian confrontational and Israeli forces assaulted each other Wednesday, form a grim backdrop for the newest round of U.S.-driven peace negotiations. The talks broken with no agreement on the the majority pressing issue: Jewish settlements.

Ex- Sen. George Mitchell, the U.S. envoy for Mideast calm efforts, emerged from an twilight session between Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas to say the meeting had been hopeful but fell short of a breakthrough.

"A grave and substantive conversation is well under way," Mitchell told a news meeting.

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Feds probe time it took to shut down gas pipe

Federal investigators are examining whether Pacific Gas & Electric workers follow proper crisis procedures after a gas broadcast line explode into an inferno that killed at smallest amount four people and shattered nearly 40 homes in a San Francisco suburb.

National Transportation Safety Board vice chairman Christopher Hart said that constructing a timeline of how PG&E crews react would be significant to formative why it took the utility nearly two hours to turn off the gas that fueled last week's overwhelming blaze.

"We will be looking at how quickly and efficiently they respond, and that's one of the reason the timeline is so significant to us," Hart said.

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