International

• Wednesday, May 5th 2010 - 21:28 UTC

  Fresh Volcanic Ash Cloud Delay Hundreds of Flights in Scotland and Ireland

  

  Thousands of passengers are facing long delays after airports in Scotland and Ireland closed because of a fresh cloud of volcanic ash from Iceland. Flights have been grounded in Glasgow, Prestwick and Derry since 0700 BST, while the airspace over Dublin, Belfast and Edinburgh has also since closed.

• Wednesday, May 5th 2010 - 21:26 UTC

  Homosexuals Campaign Against Lula da Silva’s Visit to Iran

  

  A Brazilian non government organization which defends the rights of homosexuals launched a campaign to protest President Lula da Silva’s visit to Iran scheduled for next May 15.

• Wednesday, May 5th 2010 - 21:19 UTC

  France Demands “Fair and Prompt” Compensation for Bolivian Nationalizations

  

  France's government demanded “fair and prompt” compensation from Bolivia for the nationalization of a power plant half-owned by French utility GDF Suez (EPA:GSZ).

• Wednesday, May 5th 2010 - 06:35 UTC

  Greek Aid Package Hard to Sell: Stock Markets World Wide Fall Sharply

  

  Stock markets fell sharply Tuesday as concerns about high levels of European government debt continue to shake investor confidence. The Euro fell to a 13-month-low against the dollar, dropping to 1.3004, after earlier slipping below the 1.30 mark.

• Wednesday, May 5th 2010 - 06:33 UTC

  Australia Raises Interest Rate for the Sixth Time in Eight Months

  

  Australia's central bank has raised interest rates for the sixth time in eight months as the country's economy continues to recover. The target interest rate is now at 4.5%—up from 3% in October last year.

• Wednesday, May 5th 2010 - 06:28 UTC

  EU Anticipates Further Regulation for Credit Rating Agencies

  

  A European Commissioner has warned it may be necessary to further regulate the role of credit rating agencies. Michel Barnier, in charge of revamping financial services, told the European Parliament he had been surprised by the rapid deterioration of Greece's rating.

• Wednesday, May 5th 2010 - 06:24 UTC

  Sale of French Frigates to Taiwan Exposes 591 Million USD in “Commissions”

  

  Taiwanese President Ma Ying-jeou and Premier Wu Den-yih praised the decision this week by an international court of arbitration to force French defence group Thales to pay Taiwan more than 591 million US dollars as a sanction for the payment of commissions in the purchase of Lafayette frigates from France.

• Wednesday, May 5th 2010 - 06:14 UTC

  China’s Tightens Credit, Pushes Stock Markets to their Lowest in Seven Months

  

  China's stocks fell on Tuesday sending the benchmark index to the lowest in seven months, on concern ordering banks to set aside more reserves won't be enough to avert asset bubbles in the world's third-largest economy.

• Wednesday, May 5th 2010 - 01:03 UTC

  Two Royal Navy Nuclear Subs Allowed to Sea with “Serious” Potential Risk

  

  Two Royal Navy nuclear submarines were allowed to sea with a safety defect putting the vessels at “serious” potential risk, it was revealed.

• Tuesday, May 4th 2010 - 05:48 UTC

  European Central Bank Beefs Greek Rescue-Plan; Takes “Junk” Bonds as Collateral

  

  The European Central Bank (ECB) has moved to shore up the €110 billion EU/IMF rescue of Greece by offsetting the impact of the “junk” rating on the country’s debt.