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On the Defensive, Obama Calls His Words Ill-Chosen By KATHARINE Q. SEELYE and JEFF ZELENY

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Senator Barack Obama fought back Saturday against accusations from his rivals that he had displayed a profound misunderstanding of small-town values, in a flare-up that left him on the defensive before a series of primaries that could test his ability to win over white voters in economically distressed communities.

For a second day, Mr. Obama sought to explain his remarks at a recent San Francisco fund-raiser that small-town Pennsylvania voters, bitter over their economic circumstances, “cling to guns or religion or antipathy to people who aren’t like them” as a way to explain their frustrations.

Acknowledging Saturday that “I didn’t say it as well as I should have,” he explained his remarks by focusing on his characterization of those voters’ economic woes. He meant, he said, that voters in places that had been losing jobs for years expressed their anxiety at the polls by focusing on cultural and social issues like gun laws and immigration.....read more

 
 
Food Inflation, Riots Spark Worries for World Leaders by BOB DAVIS and DOUGLAS BELKIN
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WASHINGTON -- Finance ministers gathered this weekend to grapple with the global financial crisis also struggled with a problem that has plagued the world periodically since before the time of the Pharaohs: food shortages.

Surging commodity prices have pushed up global food prices 83% in the past three years, according to the World Bank -- putting huge stress on some of the world's poorest nations. Even as the ministers met, Haiti's Prime Minister Jacques Edouard Alexis was resigning after a week in which that tiny country's capital was racked by rioting over higher prices for staples like rice and beans.

Rioting in response to soaring food prices recently has broken out in Egypt, Cameroon, Ivory Coast, Senegal and Ethiopia. In Pakistan and Thailand, army troops have been deployed to deter food theft from fields and warehouses. World Bank President Robert Zoellick warned in a recent speech that 33 countries are at risk of social upheaval because of rising food prices. Those could include Indonesia, Yemen, Ghana, Uzbekistan and the Philippines. In countries where buying food requires half to three-quarters of a poor person's income, "there is no margin for survival," he said......read more

Dollar Rises After G-7 Officials Signal Alarm at Pace of Slump By Stanley White and Kosuke Goto

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April 14 (Bloomberg) -- The dollar rose against the euro after the Group of Seven nations signaled increased unease with the currency's 14 percent slump over the past year.

The G-7 changed its statement on currencies for the first time in four years, expressing concern about ``sharp fluctuations'' after the meeting in Washington on April 11. French Finance Minister Christine Lagarde said in an interview with Bloomberg Television that she hoped the ``concerted wording'' would help temper the dollar's decline.

``In the short-term the G-7 communiqué will be quite significant,'' said Sue Trinh, a currency strategist in Sydney at RBC Capital Markets, the global investment banking unit of Royal Bank of Canada. ``We don't think intervention is imminent but certainly a step-up in rhetoric is to be expected. I expect to see this underpinning the U.S. dollar in coming weeks.''

The dollar rose to $1.5718 per euro at 12:57 p.m. in Tokyo, from $1.5808 late in New York on April 11. It reached $1.56, the strongest level since April 3. The currency strengthened to 101.12 yen from 100.95 yen. The yen traded at 158.92 per euro from 159.55. The U.S. currency may advance beyond $1.55 this week, Trinh said.....readmore