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NEWS

Thu May 5, 2005 5:27 PM ET
By Mike Peacock

LONDON (Reuters) - Tony Blair looked on course to win a historic third term as British prime minister in Thursday's election but with a hugely reduced parliamentary majority as voters punished him over Iraq. Full Article

Thu May 5, 2005 2:57 PM ET
By Dan Wilchins

NEW YORK (Reuters) - In a one-two punch for financial markets, Standard & Poor's cut General Motors Corp.'s and Ford Motor Co.'s debt ratings to junk status on Thursday, citing brutal global competition and flagging sales of the automakers' most profitable vehicles. Full Article

Thu May 5, 2005 5:25 PM ET
By Mark Egan and Claudia Parsons

NEW YORK (Reuters) - Two homemade grenades exploded outside the building housing the British Consulate's office before dawn on the day Britain was holding elections, but police said later on Thursday it may be linked to the Israeli-Palestinian conflict. Full Article

Thu May 5, 2005 4:06 PM ET
By Andrew Marshall

BAGHDAD (Reuters) - Insurgents killed at least 24 people in a wave of ambushes and bomb blasts in Baghdad on Thursday, the latest attacks in a surge of violence that has greeted the formation of a new Iraqi cabinet. Full Article

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