Barak Obama wins USA presidential race

• Barak Obama, son of a black exchange student from Kenya and a free-spirited white mother from Texas, rode on the American hunger for change and an ongoing demographic makeover to win a stirring election against all-American war hero John McCain
• He will be the first black chief executive of a nation that has had 43 white Anglo-Saxon presidents in its 234-year history. Obama won 50% of popular vote
• Needing 270 electoral votes out of 538 to win the White House, Obama has cruised to 349, capturing at least half a dozen traditionally Republican states previously won by George Bush in 2004, in addition to Democratic strongholds on either coast. McCain has only won 162 electoral votes
• The new President will be sworn in on January 20, 2009
• Voting pattern demographics wise
State wise voting pattern

About Barak Obama

• Born Aug 4, 1961 in Hawaii. Mother Ann Dunham, white American from Kansas. Parents met at Univ of Hawaii. Parents were separated when dad went to Harvard and declined scholarship to NY Univ that would have supported family. Father died in car accident in 1982
• Obama briefly studied at a madrassa in Jakarta. Returned to Honolulu to live with maternal grandparents till high school graduation in 1979 BA in pol science, specialising in international relations, from Columbia University
• Joined Harvard Law School in 1988; elected first black president of Harvard Law Review in 1990. Unlike Clinton, he smoked marijuana and inhaled it too
• Married Michelle Robinson in 1992. Two daughters—Malia Ann (born 1998) and Natasha (2001)
• Was elected to Illinois Senate in 1996, 1998 and 2002. Lost in 2000
• Announced candidacy for US President on February 10, 2007

PSU Banks cut prime rates

• LARGE public sector banks have decided to lower their prime lending rates (PLRs) by 0.75%, in line with the commitment made to Union finance minister P Chidambaram on Tuesday
• Bank of India, Canara Bank, Indian Overseas Bank and Syndicate Bank have decided to lower lending rates from 14% to 13.25%
• Among other banks, Union Bank of India and Punjab National Bank took the lead in cutting PLR by 50 basis point to 13.5%. SBI’s PLR stands at 13.75%
• On the deposit side, most banks have decided to hold on to the peak rate till the end of this month, except Union Bank of India which plans to withdraw the scheme by November 10
• Banks have already mobilised substantial money through the special deposit scheme where they were offering 10.5%. Sources said that State Bank of India, which offers 10.5% for 1,000 days, has collected around Rs 13,000 crore, while Canara Bank has raised Rs 5,000 crore till October 24 from the 500-day scheme

Obama’s triumph and Challenges ahead

• A concise article about challenges facing Barak Obama

Do you know who is the new Formula One (F1) car-racing champion

• Its Lewis Hamilton
• He is the Formula One (F1) car-racing’s youngest world champion. He is racing for the McLaren Mercedes team
• Hamilton is also the first driver of Afro-Caribbean origin to race in F1 has generated not just the inevitable comparisons with Tiger Woods but created a buzz about a new demographic being attracted to a predominantly white, middle-class sport