News roundup


--> US news: After weeks of political brinkmanship in Congress, the threat of a partial government shutdown appeared to ease yesterday with the disclosure that money to aid victims of natural disasters may last through the end of the budget year after all.

The revised estimate suggested there would be no interruption in assistance in areas battered by disasters such as Hurricane Irene and last summer's tornados in Joplin, Mo., and also that lawmakers could act quickly on gridlocked legislation that is needed to keep the government running normally when the new budget year begins on Saturday.

Even so, there was no formal announcement that the impasse had been resolved. As a result, it was unclear what the immediate impact would be in the Senate, where a late-afternoon vote was set on legislation that combined the two issues -- short-term disaster relief and longer-range overall government funding -- into one. (Via AP)

--> World news: An elder from Muammar Gaddafi's tribe inside the besieged city of Sirte has asked government forces for a truce, a local commander said today, but there was no let-up in fighting in one of its districts.

Gaddafi's hometown and one of the last bastions of support for the deposed Libyan leader, Sirte is encircled by forces with the interim government and under bombardment from NATO warplanes. More at Reuters.

--> Environmental news: 100,000 flee as deadly typhoon hits Philippines

Visit msnbc.com for breaking news, world news, and news about the economy



--> Economic news: Wall Street soared at today’s opening bell, buoyed by a wave of hope that euro zone officials are working on new measures to reduce Greece’s debt and bolster the region’s banks.

The Dow Jones industrial average was up over 200 points in the first few minutes of trading.

The Greek finance minister said the debt-stricken nation will receive its next batch of bailout loans in time to avoid a disastrous default, the Associated Press reported. Later Tuesday, German Chancellor Angela Merkel and Greek Prime Minister George Papandreou are expected to meet to discuss the crisis.

However, Reuters reports that “markets could remain volatile as traders closely watch headlines to track the level of commitment from governments and investors as they work to prevent a default in the euro zone.”

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