Stories for July 28th 2012

Saturday, July 28th 2012 - 01:13 UTC
Plans for a 300bn Euro rescue of Spain and writing down of Greek bonds

Spain has for the first time conceded it might need a full EU/IMF bailout worth 300 billion Euros if its borrowing costs remain unsustainably high, a Euro zone official was quoted in the Madrid media.
Saturday, July 28th 2012 - 00:32 UTC
US economy playing against President Obama’s re-election bid

The White House cut its outlook for US growth in 2012 and 2013 on Friday, hours after data showed the economy grew at a tepid pace in the second quarter, raising concerns about a slowdown that could mar President Barack Obama's re-election chances.
Saturday, July 28th 2012 - 00:10 UTC
Russia investing heavily in becoming self sufficient in beef production

Russian President Vladimir Putin has an ambitious plan to cut his country's 3 billion dollars annual import bill for beef. He even aspires to return Russia's beef industry to its pre-revolutionary stature.

Plans for a 300bn Euro rescue of Spain and writing down of Greek bonds