Saturday, May 29th 2010 - 03:03 UTC

Spain’s debt downgraded; Madrid lowers growth estimates 2010/2012

Popular Party leader Mariano Rajoy is calling for early elections

Risk rating agency Fitch downgraded Spain’s sovereign debt on Friday one notch from AAA to AA+ with an outlook of stable, saying that the country’s economic recovery is likely to be difficult and prolonged.

Saturday, May 29th 2010 - 01:35 UTC

IMF raises global economic growth forecast to 4.25% in 2010

Managing Director Dominique Strauss-Kahn

The IMF sees global economic growth of 4.25% this year and next, “faster than previously expected,” the head of the multilateral lender said on Friday.

Saturday, May 29th 2010 - 01:32 UTC

Australia begins legal action in The Hague against Japan over whaling

Prime Minster Kevin Rudd: whales to help with polls claim Greens

Australia has said it will begin legal action against Japan over whaling in the Antarctic. Canberra will argue that the annual whaling hunt in the Southern Ocean is in violation of an international ban on commercial whaling.

Friday, May 28th 2010 - 04:53 UTC

Brazil suggests Yuan and Real be included as IMF conversion currencies

Mantega made the suggestion to IMF chief Dominique Strauss-Kahn (Photo AP)

Brazilian Finance Minister Guido Mantega suggested the International Monetary Fund (IMF) include China's Yuan and Brazil's Real as conversion currencies for Special Drawing Rights (SDR) of the institution.

Friday, May 28th 2010 - 04:37 UTC

Sociologists Touraine and Bauman awarded the 2010 Prince of Asturias awards

Touraine is also very popular in Latinamerica as a political scientist

French Sociologists Alain Touraine and Polish born Zygmunt Bauman received on Thursday the 2010 Prince of Asturias Awards for Communication and Humanities.

Friday, May 28th 2010 - 04:36 UTC

World markets and Euro boosted by China’s supportive comments

China Investment Corp. President Gao Xiqing

World stock markets soared strongly on Thursday, boosted by supportive comments from China on the strength of the Euro. The agency that manages the country's huge foreign assets said it was not rethinking its holdings in Euros.

Friday, May 28th 2010 - 04:35 UTC

Spain’s austerity package narrowly approved by one vote

Rodriguez Zapatero: tough legislation

There has been temporary relief for Spain’s governing Socialists as parliament narrowly approved the 15 billion Euro austerity package: the motion was passed by only one vote, 169 to 168.

Friday, May 28th 2010 - 04:31 UTC

Ancestors of modern squid identified by Canadian researchers

Nectocaris, the kite-shaped creature that was flattened from top to bottom

The ancestors of modern squid may have existed half a billion years ago - a lot earlier than previously thought. In a new study, Canadian researchers identified a previously unclassifiable fossil that was long believed to belong perhaps to the shrimp family.

Thursday, May 27th 2010 - 09:09 UTC

Germany preparing for “orderly state insolvency” in support of the Euro

German Finance Minister Wolfgang Schaeuble, passionate defender of the Euro zone

Germany's push for an orderly insolvency process for indebted Euro zone states suggests Berlin is assuming the worst: that one of its peers -- most likely Greece -- will default on its debt repayments.

Thursday, May 27th 2010 - 08:29 UTC

Cuban consul in Norway accused of “biting” demonstrator’s hand

Consul Carmen Julia Guerra denies biting Joner

An allegedly peaceful rally for a democratic Cuba outside the Cuban Embassy in Norway’s capital Oslo turned bloody at the weekend, and could turn into a diplomatic incident.


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