FED MAY RAISE U.S. RATES AGAIN The US Federal Reserve is likely to raise interest rates this week for the first time in three months to give another tug on the reins of the economy, analysts say. The move, they say, would follow tomorrow's meeting of the Fed's policymaking Federal Open Market Committee. It would be the fifth time this year that the Fed has tightened credit to keep inflation in check. Some sectors that were propelling growth in the early stages of the recovery such as housing and auto sales show signs of running out of steam, and that argues for restraint. But jobs growth remains strong, orders of manufacturing machinery are up, and banks are in hot competition to lend to businesses and consumers. Altman left to decide
The White House Saturday was leaving it up to Deputy Treasury Secretary Roger Altman to decide whether to resign after key Democratic senators issued a vote of no confidence. White House officials admitted concern about the statement from Senate Banking Committee chairman Donald Riegle of Michigan and Sen. Paul Sarbanes (D) of Maryland. Landing remembered
Thirty-three allied warships steamed along the coast of the French Riviera yesterday to honor veterans of the Provence landing 50 years ago that hastened the end of the Nazi occupation of Europe. Fourteen African heads of state joined host President Mitterrand on the French aircraft carrier Foch to review the flotilla commemorating the World War II landing. On Aug. 15, 1944, 90,000 allied soldiers landed in Provence. Dante robot rescued
The Dante II robot that spider-walked its way into an Alaskan volcanic crater was lifted out by helicopter Saturday, more than a week after a misstep sent the 1,700-pound NASA explorer sprawling. Scientists from Carnegie Mellon University used a helicopter to pluck from Mt. Spurr the eight-legged robot, developed for NASA and brought to Alaska to test its ability to explore terrain similar to that on other planets. Japanese minister resigns
A Japanese Cabinet minister resigned yesterday after angering South Korea and China by stating that Japan's occupation of Asian nations before and during World War II had benefited them. Shin Sakurai, who stepped down as head of the Environment Agency, became the second Cabinet minister since May to resign after causing an uproar with remarks about Japan's role in World War II. Rains inundate Taiwan
Torrential rains continued to batter southern Taiwan yesterday, causing the worst floods in 35 years. About 28 inches of rain were recorded in a 56-hour period, officials said.