
Italian banks were saved from the US subprime mortgage originated crisis that has become global because they barely speak or understand English confessed the Italian Minister of Economy Giulio Tremonti during an interview published this week in the French newspaper Les Echos and picked up by global news agencies
The formation of a UK super bank has been rubber-stamped with a court giving its approval for Lloyds TSB's takeover of HBOS. The Court of Session in Edinburgh gave the green light to the deal after a legal hearing lasting all day.
The International Monetary Funds may need up to 150 billion US dollars in additional funds to assist emerging markets and poorer countries suffering through the intensifying global economic slump, IMF Managing Director Dominique Strauss-Kahn said.

Two search requests on the internet website Google produce as much carbon dioxide as boiling a kettle, according to a Harvard University academic. US physicist Alex Wissner-Gross claims that a typical Google search on a desktop computer produces about 7g CO2.

The European Parliament has voted to tighten rules on pesticide use and ban at least 22 chemicals deemed harmful to human health. The UK government, the Conservatives and the National Farmers' Union all oppose the new rules, saying they could hit yields and increase food prices. The rules have not yet been approved by the 27 member states' governments.

Immigrants' remittances from Spain to home countries totalled 1.95 billion Euros in the first three quarters of 2008, down 7% from the same period a year ago, reported the Banco de España.
NASA and the National Science Foundation have successfully launched and demonstrated over Antarctica a newly designed super pressure balloon prototype that may enable a new era of high-altitude scientific research. The super-pressure balloon ultimately will carry large scientific experiments to the brink of space for 100 days or more.
The chief of communications and public information for the United Nations called Thursday on the Israeli Government to ensure immediate access for international media into Gaza, stressing the need for full and independent coverage of events unfolding in the territory which has been the target of an Israeli offensive launched nearly two weeks ago.
The number of registered jobless in Spain topped 3 million for the first time ever in December and the government said unemployment would worsen in 2009 as the global economic crisis continues to wreak havoc on the country's construction and tourism industries.
United Kingdom scientists are set to be the first to investigate in detail the creatures living around hot water vents surrounding Antarctica. The team is scheduled to join the British Antarctic Survey's research ship the RRS James Clark Ross in Puenta Arenas, Chile.