By Kevin Yao BEIJING (Reuters) - China's plan to spend $6.5 trillion on urbanization to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble. Premier Li Keqiang has rejected an urbanization proposal drafted by the National Development and Reform Commission (NDRC), seeking changes to put more emphasis on economic reform, according to the sources, who are familiar with the matter. ...
MOORE, Okla. (AP) — All that is left of Shayne Patteson's three-bedroom home is the tiny area where his wife hunkered down under a mattress to protect their three children when a tornado packing winds of at least 200 mph slammed through his neighborhood.