Friday 15 June 2012

Today's stories




High court rules entire parliament should be dismissed because of "constitutional violations"

RIO DE JANEIRO: Twenty years after the first Earth Summit, a renewed effort to rally the world behind a common environmental blueprint has opened in Rio de Janeiro against a backdrop of economic gloom.


Global economy


The worsening economic situation in Europe could bring Brent crude prices down to $50 per barrel this year, according to research prepared by Credit Suisse.

The threat of turmoil sweeping across global markets next week if Greece's election prompts a panicky flight of money from the euro zone has policymakers from Beijing to Zurich preparing to protect their currencies and economies from an unwelcome influx.

Nokia plans to cut 10,000 more jobs, bringing the total to one in three staff, as it loses market share to cellphone rivals Apple and Samsung and burns through cash, raising new fears over its future.

THE German government has begun opening the door to shared debts in a profound change of policy, agreeing to explore proposals for a €2.3 trillion ($2.9 trillion) stabilisation fund to stop the eurozone's crisis escalating out of control.

Investors are keeping their hands on the sell button with Spain under the threat 

A growing number of European countries are being squeezed by a financial vice just days before a Greek election that could escalate the region's political and economic turmoil.

As Italian customers wake up to frozen bank accounts Europe officials are planning limited bank account and ATM withdrawals to deal with Greece exit.


Analysis by Credit Suisse estimates that up to 58% of the value of Europe's banks could be wiped out by the departure of the 'peripheral' countries

Airline Death Spiral


Aircraft engineers have accused Qantas of endangering the public by cutting back on safety checks before flights.



Military/intelligence

The US is planning to expand secret intelligence bases throughout Africa with a view to combating terrorism in the region, says a new report by the Washington Post. It is the latest in a US push to militarize its presence on the continent.



Controversial order permits arrests for a number of crimes, raising concerns it replaces lapsed emergency law.


U.S. intelligence operatives and diplomats have stepped up their contacts with Syrian rebels in part to help organize their burgeoning military operations against President Bashar al-Assad’s forces, according to senior U.S. officials

Pakistan renews call on the United States to apologize for the US-led forces’ killing of 24 Pakistani soldiers last year.

Unmarked planes with sensors being flown between secret air bases and bush strips for surveillance, says report.

The State Department on Thursday acknowledged that the Russian helicopters Secretary of State Hillary Clinton earlier claimed would “escalate quite dramatically” the Syrian conflict were actually returning to Syria after being refurbished.

Russia has every possibility to provide a proper response to the projected deployment of a U.S. missile shield in Europe, though Moscow would like to see the U.S. plans revised, Russian President Vladimir Putin said on Thursday.

Environmental/disasters


Civil unrest/revolution

Appeals court sentences nine doctors and acquitted nine others, in a controversial case.

 Energy/resources

Saudi Arabia vs high oil prices: It’s not all about the money
The disagreements between OPEC members over the oil price will test the cartel’s unity, as the organization which sees itself as the oil market's prime regulator, meets later on Thursday.


Infrastructure scavengingEurope

Spain's borrowing costs broke through another record after a credit ratings agency downgraded the country's ability to pay down its debt amid rising fears a bank bailout may not be enough to save the country from economic chaos.


ATHENS: It was only a Skype consultation but it was still charged with emotion. The voice of the man on the other computer screen was choked with distress; he often stopped to sob.


BRITAIN'S Government and the Bank of England have outlined a series of emergency measures designed to kick-start lending by banks and to protect the country's economy from the worsening debt crisis in the eurozone



British authorities unveiled an ambitious plan to log details about every Web visit, email, phone call or text message in the U.K. and in a sharply-worded editorial the nation's top law enforcement official accused those worried about the surveillance program of being either criminals or conspiracy theorists.




A European diplomat based in Berlin has told Kathimerini that there is little appetite in the German government or parliament to renegotiate Greece’s fiscal adjustment program and provide Athens with more time to meet its targets and more loans to cover its funding gaps in the meantime.



Japan


USA


The White House’s attempts to justify the targeted killing of suspected terrorists have attracted disapproval from critics old and new, but opponents of Obama’s so-called “signature” drone strike program have found new allies - this time in Congress.



The number of the Americans applying for unemployment benefits has risen as the hiring process remains sluggish in the job market.


Although the plague is typically considered a remnant of the Middle Ages, when unsanitary conditions and rodent infestations prevailed amid the squalor of poverty, this rare but deadly disease appears to be spreading through wealthier communities in New Mexico, researchers report.


Next up: Outlawing hurricanes

Australia/NZ 

Australian shares fell to their lowest close in 10 days as investors scaled back risk ahead of an Italian bond auction and critical Greek elections on Sunday.


The administrator of the collapsed Hastie Group engineering empire has dashed lingering hopes of substantial returns for creditors, signalling that few businesses will find new owners following the company's collapse.




The Australian dollar has climbed back above parity with the greenback after hovering close to the mark since the start of the week - just as many families prepare for overseas holidays during the winter school break.



Controversial asset sales legislation has scraped through its latest stage in Parliament amid claims from Opposition parties and protesters that the Government is ignoring public opinion.



Kiwis' quality of life is being hit by the high cost of fuel, a new survey shows.


An audit of Queensland's finances shows the state's debt will blow out to more than $90 billion in four years





Media/internet


The British Prime Minister, David Cameron, has admitted the relationship between politicians and the press has grown ''too close'' and that spin doctoring and government attempts to keep control of the 24-hour news agenda has meant the ''pendulum has swung too far''.



The UK Supreme Court has denied WikiLeaks founder Julian Assange’s appeal to reopen his extradition case. It brings Assange one step closer to extradition to Sweden, where he is wanted over sexual assault and rape allegations.


Posted by at

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)