World news: Banks stock up cash on default fears, Obama cancels ...

 
 
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Friday October 04 2013
 
 
World News
 
Banks stock up cash on default fears
 
An unprecedented default could see credit markets freeze, the value of the dollar plummet and interest rates rocket, a report has warned
 
 
 
Obama cancels Asia trip as shutdown bites
 
 
Car chase and shots spark US Capitol lockdown
 
 
Scores die as migrant boat sinks off Italy
 
 
BoJ holds steady as sentiment improves
 
 
Qatar building boom raises labour concerns
 
 
France delivers postal blow to Amazon
 
 
California opens road for illegal migrants
 
 
Islamist rebels appeal to Syrian al-Qaeda
 
 
Egypt's students keep coup protests alive
 
 
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The World
 
Obama pivots away from Asia
 

Barack Obama with Mahmoud Abbas at the UN (JEWEL SAMAD/AFP/Getty Image)

“Let there be no doubt: in the Asia-Pacific of the 21st century, the United States of America is all in”, declared Barack Obama in a speech to the Australian parliament in November 2011. But Asians might be excused for having a few doubts about that now that Obama has cancelled half of his upcoming trip to Asia – so that he can stay at home and concentrate on his budget fight with Congress. For the moment, the president is still planning to travel to the Apec summit in Bali. But even that promise is under review, depending on what’s happening in Washington. It would be acutely embarrassing if Obama cancelled the trip to Apec, since it would be the third time he has failed to show up for a scheduled trip to Indonesia. Previous efforts to visit the country that he lived in as a child were cancelled – in March 2010 and then again in June of that year – because of an argument, first over health-care and then over BP.

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