1. Metal workers teachers & social workers mount protests for better pay
The Professional Teachers’ Union has organized a protest to fight for better pay. Dozens of teachers have marched from HSBC Headquarters to the Central Government Offices. Metal workers will gather at the Central Government offices tomorrow in continuance of their strike for higher pay and shorter working hours. And about 5000 social workers from Non-Governmental-Organisations will take half a day off work next week to march in support of a demand for higher wages.

2. South Korean car firm’s labour union votes to go on strike
South Korea’s Hyundai Motor Company says its labor union has voted in favor of going on strike amid annual wage negotiations. According to the automaker more than 28000 union members voted in favor of the strike while 12000 opposed it. It’s not immediately clear however when a walkout might begin.

3. U.S. stocks finish higher after Bernanke Bush speeches
Financial news… Wall Street closed out another erratic week with a big gain after investors took comments from President Bush and the Federal Reserve Chairman Ben Bernanke as reassuring signs that Wall Street won’t be left to deal with problems in the mortgage and credit markets on its own. The major indexes fluctuated but held their gains after Mr Bush spoke about details of a plan to help borrowers facing trouble paying their mortgages. The Dow rose 119 points or 0.90 percent to 13357. Broader stock indicators also rose. The Standard & Poor’s 500 index rose 16 points or 1.12 percent to 1473. And the Nasdaq composite index rose 31 points or 1.21 percent to 2596.

4. Bernanke says Fed will act as needed
US Federal Reserve Chairman Ben Bernanke has pledged Friday that the central bank will “act as needed” to keep the credit crisis that has unhinged Wall Street from hurting the US economy. In anxiously awaited remarks Mr Bernanke did not specify what the Fed’s next move will be but made clear policymakers are keeping close tabs on the problem. Many believe the odds are growing that the Fed will cut its most important interest rate now at 5.25 percent by at least one-quarter percentage point on or before September the 18th its next regularly scheduled meeting. The Fed hasn’t lowered this rate in four years.

5. Bush announces measures to tackle home loans crisis
President Bush has announced measures intended to tackle the home loans crisis that’s contributed to turmoil on the world’s financial markets. Many Americans with high-risk loans known as subprime mortgages have been defaulting on their debts because mortgage rates have risen sharply. Mr Bush announced help for borrowers struggling to keep up payments.

6. Bernanke says Fed will act as needed
US Federal Reserve Chairman Ben Bernanke has pledged Friday that the central bank will “act as needed” to keep the credit crisis that has unhinged Wall Street from hurting the US economy. In anxiously awaited remarks Mr Bernanke did not specify what the Fed’s next move will be but made clear policymakers are keeping close tabs on the problem. Many believe the odds are growing that the Fed will cut its most important interest rate now at 5.25 percent by at least one-quarter percentage point on or before September the 18th its next regularly scheduled meeting. The Fed hasn’t lowered this rate in four years.

7. Bush says markets turmoil will take time to play out
President Bush has announced a package of measures to help homeowners struggling to pay their mortgages amid the subprime loan crisis. Mr Bush said the market turmoil stemming from the problem will take time to play out. But he said the subprime market woes represent only a small part of the economy and would not undermine what he said were sound fundamentals.

8. Hang Seng hits new record high
Hongkong stocks have surged 499 points - or two percent - to end the week at a new record high of 23984. The Hang Seng Index broke above the 24000 level at one stage before falling back. Turnover was $113-billion. Global shares rose sharply following reports that President Bush will announce measures to tackle the US sub-prime crisis and ease fears of a world-wide credit crunch.

9. Hang Seng closes 499 higher
The Hang Seng index has closed at 23984 - that’s 499 up on the previous close. In currencies the American dollar’s trading at 116.19 yen. The euro is standing at 1 American dollar 36 cents. And the pound is worth 15 Hong Kong dollars 70 cents.

10. Hang Seng soars
A short time ago the Hang Seng index was 24002 - that’s 518 up on the previous close. In currencies the American dollar’s trading at 116.30 yen. The euro is standing at 1 American dollar 36 cents. And the pound is worth 15 Hong Kong dollars 72 cents.

11. Metal workers teachers & social workers mount protests for better pay
The Professional Teachers’ Union has organized a protest to fight for better pay. Dozens of teachers have marched from HSBC Headquarters to the Central Government Offices. Metal workers will gather at the Central Government offices tomorrow in continuance of their strike for higher pay and shorter working hours. And about 5000 social workers from Non-Governmental-Organisations will take half a day off work next week to march in support of a demand for higher wages.

12. South Korean car firm’s labour union votes to go on strike
South Korea’s Hyundai Motor Company says its labor union has voted in favor of going on strike amid annual wage negotiations. According to the automaker more than 28000 union members voted in favor of the strike while 12000 opposed it. It’s not immediately clear however when a walkout might begin.

13. U.S. stocks finish higher after Bernanke Bush speeches
Financial news… Wall Street closed out another erratic week with a big gain after investors took comments from President Bush and the Federal Reserve Chairman Ben Bernanke as reassuring signs that Wall Street won’t be left to deal with problems in the mortgage and credit markets on its own. The major indexes fluctuated but held their gains after Mr Bush spoke about details of a plan to help borrowers facing trouble paying their mortgages. The Dow rose 119 points or 0.90 percent to 13357. Broader stock indicators also rose. The Standard & Poor’s 500 index rose 16 points or 1.12 percent to 1473. And the Nasdaq composite index rose 31 points or 1.21 percent to 2596.

14. Bernanke says Fed will act as needed
US Federal Reserve Chairman Ben Bernanke has pledged Friday that the central bank will “act as needed” to keep the credit crisis that has unhinged Wall Street from hurting the US economy. In anxiously awaited remarks Mr Bernanke did not specify what the Fed’s next move will be but made clear policymakers are keeping close tabs on the problem. Many believe the odds are growing that the Fed will cut its most important interest rate now at 5.25 percent by at least one-quarter percentage point on or before September the 18th its next regularly scheduled meeting. The Fed hasn’t lowered this rate in four years.

15. Bush announces measures to tackle home loans crisis
President Bush has announced measures intended to tackle the home loans crisis that’s contributed to turmoil on the world’s financial markets. Many Americans with high-risk loans known as subprime mortgages have been defaulting on their debts because mortgage rates have risen sharply. Mr Bush announced help for borrowers struggling to keep up payments.