N. Korea threatens to close last South link

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North Korea threatened to close the last road link with the South if Seoul goes ahead with propaganda broadcasts across the militarised border, as Washington pressured China to help persuade the North to change its ways.
The mounting antagonism between the two Koreas has shaken investors, uncertain how far they are ready to take their bitter rivalry after the South accused the North of torpedoing one of its warships.
On Wednesday, shares and the local currency looked much more stable after sharp falls the previous day, but analysts said both remained under a cloud from North Korea, as well as the fallout from euro zone problems. The won is now in its longest losing streak for 10 months while the stock market, though slightly higher, saw foreign net selling for the eighth consecutive session.

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Obama’s net worth lowest for any US Prez in 57 yrs
New York : He may be heading the world’s largest economy, but US President Barack Obama’s personal net worth is just $5 million — the lowest for any American President in five decades.
The last time a US President had a lower net worth than Mr Obama was Harry Truman (1945-53) with less than $1 million, as per a list compiled by the Atlantic magazine. “Obama is the grandson of a goat herder. He is a former constitutional law professor and civil rights attorney. Book royalties constitute most of Obama’s net worth,” the US magazine said.
Till now, the US, whose GDP is $13 trillion, has seen 44 Presidents and net worth for each was calculated in “2010 dollar” rate for the list. Mr Obama, who took over as the President in 2008, has fortunes to the tune of $5 million. In comparison, George W. Bush, who was the President from 2001-08, had a net worth of $20 million while his predecessor Bill Clinton’s fortune is estimated to be worth $38 million. As per the analysis, at least 14 former US Presidents had net worth less than $5 million. They include Abraham Lincoln and Woodrow Wilson (both had fortunes less than $1 million) and Franklin Pierce ($2 million).
—PTI

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