International

Wednesday, January 28th 2009 - 20:00 UTC
Germany agrees on Merkel's “most difficult decision”

Germany's cabinet sealed a multi-billion stimulus package on Tuesday aimed at hauling Europe's biggest economy out of what is feared could be its worst slump for six decades.
Wednesday, January 28th 2009 - 20:00 UTC
Spanish bank Santander will pay back for Madoff

Two law firms have filed a class action lawsuit in the United States against Spain's Banco Santander and one of its subsidiaries to recover money lost in an alleged $50 billion Ponzi scheme orchestrated by U.S. financier Bernard Madoff.
Wednesday, January 28th 2009 - 20:00 UTC
IMF forecasts UK economy to contract 2.8% this year

The United Kingdom is expected to suffer the worst slump of all advanced nations in the “deepest recession since the Second World War”, according to the latest International Monetary Fund (IMF) World Economic Outlook.
Wednesday, January 28th 2009 - 20:00 UTC
Credit rating agencies admit errors before UK Parliament

Credit and risk rating agencies have admitted errors were made when assessing some of the financial instruments that have been blamed for the credit crunch. Representatives of the three main agencies - Standard & Poor's, Fitch, Moodys - were grilled by the House of Commons Treasury Select Committee
Tuesday, January 27th 2009 - 20:00 UTC
Tourism industry expected to contract up to 2% this year

International tourist arrivals in 2008 increased 2% over the previous year but with the advance of the global crisis the rate of growth in the second half came to a stand still and turned negative, a tendency which is expected to continue in 2009, --possibly between 0 and minus 2%--, according to the latest report form the World Tourism Organizations.
Monday, January 26th 2009 - 20:00 UTC
UK recession “predictor” warns of 3 m unemployment

The economist whose recession warnings and calls for interest rate cuts were snubbed by Bank of England colleagues warned in an interview he feared UK unemployment could hit three million in a year's time.
Monday, January 26th 2009 - 20:00 UTC
UN Human Rights Commissioner warns of genocide threat

Cautioning that the threat of genocide still remains over half a century after millions of lives were brutally cut short by the Holocaust, the United Nations human rights chief said the memory of its victims should serve as a reminder of the need to act quickly and decisively at the first signs of such crimes.
Monday, January 26th 2009 - 20:00 UTC
Four Lords involved in alleged cash-for-influence row

Britain's Leader of the Lords has pledged to toughen up anti-sleaze rules after four peers were engulfed in a cash-for-influence row. Baroness Royall launched two parliamentary inquiries in the wake of “deeply shocking” allegations that Labour members were ready to change legislation in return for money.
Monday, January 26th 2009 - 20:00 UTC
Pfizer-Wyeth defy stress and merge into pharmaceutical giant

A pharmaceutical giant was created Monday after US drug maker Pfizer announced it would be acquiring Wyeth in a 68 billion US dollars merger deal that could spark hopes of further consolidation across the industry.
Sunday, January 25th 2009 - 20:00 UTC
Low-oxygen areas in oceans linked to global warming

Unchecked global warming would leave ocean dwellers gasping for breath according to an article in the latest edition of Nature Geoscience. Dead zones are low-oxygen areas in the ocean where higher life forms such as fish, crabs and clams are not able to live. In shallow coastal regions, these zones can be caused by runoff of excess fertilizers from farming.