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Geraldine Ferraro has given up her position on the finance committee of Sen. Hillary Clinton's presidential campaign in the wake of a controversial remark about Sen. Barack Obama.

As Iran prepares to elect a new parliament on Friday, hundreds of reform candidates have been disqualified by a non-elected council. Iran's leaders say this is democracy. Critics in Iran say it's hardly democratic.

Tibetan monks stage their biggest demonstrations in nearly two decades against Chinese rule. China's state-run news agency says hundreds of protesters joined the Buddhist monks in the capital, Lhasa. Several shops were burned.

Sen. Barack Obama has addressed the simmering controversy about racially charged remarks made by his longtime pastor. In his speech in Philadelphia Tuesday, Obama denounced the remarks and engaged in a conversation about the broader issues of race in America.

The Federal Reserve lowered a key interest rate on Tuesday by three-quarters of a percentage point, a hefty cut that nonetheless was smaller than many analysts had expected. The federal funds rate now stands at 2.25 percent, the lowest since February 2005. It makes it easier for consumers and businesses to borrow money.

The Federal Reserve on Tuesday slashed a key interest rate by three-quarters of a point, making it cheaper for banks to borrow. Banks may eventually pass the savings to consumers in the form of lower interest rates for loans, but the interest that consumers earn on savings can also go down.

Writer Arthur C. Clarke has died in Sri Lanka. He was 90. He's best known for writing 2001: A Space Odyssey, but he wrote many dozens of science fiction novels. Clarke, a trained scientist who united intellectual rigor with imagination, inspired generations of writers and scientists with his powerfully humane vision of the future.

Democratic Gov. Eliot Spitzer's has only tepid support, even among his allies within New York's political establishment. Some Democratic officials have called for Spitzer's resignation. A Republican opponent has threatened impeachment if Spitzer doesn't resign.

The face of gang members taking over the streets in Los Angeles is diversifying. Sam Quinones of The Los Angeles Times and Connie Rice, author of the new study "A Call to Action: A Case for a Comprehensive Solution to L.A.'s Gang Violence Epidemic," talk about the rise of Latino gangs in Los Angeles.

A routine financial inquiry led to the discovery of New York Gov. Eliot Spitzer's involvement in a high-priced prostitution ring. How do banks scrutinize the transactions of their customers, particularly "PEPs" — politically exposed people?