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Flood waters are rising in New Orleans, which remains without power after being hit by Hurricane Katrina Monday. Phone service is also largely down, and looting is taking place in several areas. Fallout from the storm has prompted President Bush to return to the White House two days ahead of schedule.

The Federal Reserve's decision to extend credit to the ailing investment bank Bear Stearns is an unprecedented move. And the Fed took additional steps to address a crisis of confidence on Wall Street.

After nearly a week of chaos and privation in New Orleans, the federal response to Hurricane Katrina appears to be making a dent in the city's anguish. Most of the known storm survivors are out of the flooded city. Rescue operations continue.

The city of Hamtramck says it will run out of money at the end of January, and officials have taken the unprecedented step of asking the state for…

Destroying things is easier than building them. It takes months to build a house, but you can destroy one in an afternoon. What’s baffling is that we…

As much of 80 percent of New Orleans remains flooded. Rescue operations continue, with more evacuations planned. Engineers are working desperately to shore up breached levees with sandbags. Gov. Kathleen Blanco says residents should leave the flooded city.

Pakistani President Pervez Musharraf is facing a growing political crisis. After he suspended the country's chief judge, several other judges resigned in protest and hundreds of lawyers took to the streets.

The canal is being widened to handle much larger ships. But after five years of building, the project is expected to cost at least $1.6 billion more than planned. The builders and the canal operators both say the other side should pay.

The John D. and Catherine T. MacArthur Foundation has announced the recipients of this year's fellowships. Twenty-four innovators in art, science, writing and more will each receive $500,000 over the next five years.

The political crisis in Nepal is deepening. The country's main political parties have rejected a plan by King Gyanendra to hand over power, saying it's not enough. And protesters are taking to the streets.