International
InternationalUK state-control banks mellow home repossession actions
Britain's Royal Bank of Scotland has announced that it will give struggling homeowners at least six months before launching repossession action. The NatWest parent said it was doubling the three-month breathing space currently offered to borrowers who fall behind with mortgage repayments.
Parliament awaits statement on MP's office police raid
United Kingdom Justice Secretary Jack Straw has appeared to indicate that ministers had been “surprised” by the nature of the raids on Tory frontbencher Damian Green's homes and offices.
Socialists call for return to EU founding fathers' spirit
The new French Socialist leader Martine Aubry defended a strong economic stimulus program “to help the weakest” based on the Social-democrat model because “communism died twenty years ago, and neo-liberalism just two months ago”.
UK has no plans to join the Euro, says PM Brown's office
The British government has denied a shift in policy on the Euro after the European Commission's president said the UK was “closer than ever before” to joining.
OPEC divided over quota compliance and further cuts
OPEC energy ministers decided on Saturday to leave oil production quotas unchanged after talks in the Egyptian capital following falls in the price of oil. OPEC President Chakib Khelil said any such decision would be made at a meeting in Algeria next month.
China warns on loss of competitiveness: weaker Yuan ahead?
China's President Hu Jintao has warned that the global financial crisis could weaken his country's competitiveness. Mr Hu gave his warning at a meeting of the Politburo and his words have been made public by the state media.
Tasmania claims the lives of 150 stranded pilot whales
The rugged coast of western Tasmania in Australia claimed the lives of another 150 whales at the weekend when they stranded themselves on craggy rocks near Sandy Cape. The long-finned pilot whales were spotted on Saturday morning and were already badly injured by the time rescue crews and locals reached them.
Unemployment up and Nov. inflation plunges in Euro zone
Unemployment in the European Union 15 nations that share the Euro shot up to 7.7% in October ? the highest level in two years ? as growth dropped sharply. Inflation on the other hand plunged to 2.1% in November as oil came down from the record prices of last July.
UK Treasury becoming main private banker
British taxpayers will take a 57.9% stake in Royal Bank of Scotland after investors snubbed its £15 billion share offer, the bank said on Friday. RBS existing shareholders refused to buy the new stock because the bank's shares were trading below the 65.5p offer price announced in October.
Outrage in UK over arrest, office search of shadow minister
Britain's political system reacted with outrage to the arrest of shadow Immigration minister Damian Green and the search of his home by the police. Liberal Democrats have called the arrest a “mayday warning” for democracy amid cross-party anger over the move.
