International

• Tuesday, June 15th 2010 - 05:09 UTC

  UK doubling inspection and reviewing standards of drilling rigs

  

  Britain is doubling inspection of drilling rigs after the BP oil spill, Energy Secretary Chris Huhne informed Parliament. He told MPs a review of standards had been carried out but with the beginning of exploration in deeper waters west of Shetland, “we must be vigilant”.

• Tuesday, June 15th 2010 - 02:36 UTC

  EU finance ministers agree on tougher regulation for the hedge fund industry

  

  European Union finance ministers have agreed to introduce tougher regulation of the hedge fund industry. Ministers overrode objections by the new UK government and the City of London, where 80% of European funds are based.

• Tuesday, June 15th 2010 - 00:08 UTC

  Poignant event this week in Buenos Aires between Falklands/Malvinas’ veterans

  

  An extraordinary reunion, linked to the Falkland Islands conflict of 1982 is scheduled this week in Buenos Aires: a former paratrooper will return to an Argentine soldier the trumpet he seized from his 28 years ago.

• Monday, June 14th 2010 - 23:45 UTC

  Greek debt downgraded to “junk”; IMF, EU audit finances and budget

  

  Greek government bonds have been downgraded four notches to “junk” status from A3 to Ba1 by Moody's credit rating agency. The agency said Monday there was still “considerable uncertainty” surrounding the impact of measures introduced to cut the country's high budget deficit.

• Monday, June 14th 2010 - 23:42 UTC

  Bank of England may need to hike interest rates to combat inflation, warns banker

  

  The Bank of England may need to hike interest rates soon as inflation has remained far stickier than expected, rate-setter Andrew Sentance warned in The Sunday Times.

• Monday, June 14th 2010 - 04:32 UTC

  Former Swiss leader next UN General Assembly president

  

  After two presidents who irritated Israel and the United States, the UN General Assembly elected a leader unlikely to ruffle Western feathers -- Joseph Deiss, a former president of Switzerland.

• Monday, June 14th 2010 - 04:04 UTC

  Viral epidemic for third year in a row ravages French oyster farms

  

  French oyster-growers are facing ruin because of a viral epidemic that for a third year in a row has been wiping out millions of baby shellfish. From the Mediterranean coast to the bay of Arcachon on the Atlantic and now Brittany, farmers have been watching in dismay in recent weeks as the virus once again moved northwards, keeping pace with the rising sea temperature.

• Monday, June 14th 2010 - 04:00 UTC

  Russia became world’s leading oil producer in 2009 ahead of Saudi Arabia

  

  Russia overtook Saudi Arabia to become the world's leading oil producer in 2009, while global oil consumption fell the most since 1982, BP has said. According to the oil giant's latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.

• Sunday, June 13th 2010 - 01:31 UTC

  UK Deputy PM Clegg reaffirms Falklands’ British sovereignty

  

  Britain’s Deputy Primer Minister Liberal-Democrat Nick Clegg said in Spain there will be no change in the stance of the Falkland Islands sovereignty and the Islanders wish to remain British.

• Friday, June 11th 2010 - 20:50 UTC

  Japan in “risk of collapse” under huge debt mountain says new PM

  

  Japan is at “risk of collapse” under its huge debt mountain, the country's new prime minister has said. Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.