America's trade deficit rises to $618bn- The Times of India: "The American trade deficit broke the $600-billion barrier in 2004, soaring to $617.7 billion, the commerce department reported on Thursday, but gap narrowed in December in part because lower oil prices cut cost of energy imports.

The deficit now accounts for more than 5 per cent of American economy, a level that adds further pressure to forces pushing down value of dollar and increases amount of debt held overseas."

(Via The Times of India.)