Gold hits new record
On Friday Standard & Poor`s downgraded the US▓s credit rating from AAA to AA+ and people since then have flocked to buying gold. The value of an ounce of gold surpassed $1,700 for the first time today.╜
Moody`s to downgrade the US
Just when you think the US debt debacle can`t get any worse, ratings agency Moody`s warns it could downgrade the United States credit score before 2013. Moody`s threat centers on if the US` fiscal or economic stance declines drastically.
Poles no longer at euro pole position
As eurozone members join forces to save the common economy, one EU state is happy it is not bailing out the single currency. Poland was supposed to adopt the euro next year, but those plans are now on ice with Warsaw eager to stay out of the crisis.
Asian markets drop by 2 per cent
The Asian markets have opened in negative territory on Monday morning, falling by around 2 per cent. Japan`s foreign minister announced that his country will be holding on to its US bonds for the time being.
"No borders worth a human life" - Ossetians remember their dead
The events of early August 2008 changed the map of the Caucasus forever. The five-day war unleashed by Georgia against its former republic of South Ossetia left the region devastated, blocking any chance of reconciliation in the foreseeable future.
Hungry Egyptians don`t care about democracy
The economic perils, which were one of the major reasons why Egyptians took to the streets in January, are only getting worse. Unemployment is at an all-time high and millions are struggling to make ends meet.
US has worst month of manufacturing in two years
Call it the industrial de-revolution. Manufacturing in America grew last month at its slowest pace since 2009.
US lawmakers say `yea` to crucial debt deal
The US lawmakers have voted in favor of the emergency deal to raise the country`s debt ceiling and avoid a potentially devastating default. The only remaining hurdle for the legislation is senate approval, expected later on Tuesday.
UK kicks out remaining Libyan diplomats
Britain has expelled all staff of the Libyan embassy in London. The eight people will be given three days to leave the country. Envoys from the rebel government in Benghazi are expected to take over the building.
US jobs flow eastwards
With money in short supply for companies in the West, they are taking their operations and dollars to the cheaper East. India`s economy is among those benefiting from the American financial downturn.
Americans begin to panic as default looms larger
Americans have taken Obama`s battle-cry literally and started calling their lawmakers to put pressure on Congress to find a compromise over the debt limit crisis, which gets more divisive with Obama`s threats to veto a rival Republican plan.
Still no end to Korean War after 6 decades
The Korean Peninsula is the site of one of world`s longest-running armed conflicts. While the war there ended in an armistice, both the North and the South have been preparing to renew hostilities at any moment for 58 years now.
"Spanish revolution" in full swing
Thousands of protesters are gathering in cities across Spain daily to show their discontent with the current economic situation. They claim the government has failed to tackle the recession and high unemployment rates in the eurozone.
Russian leaders offer condolences to terror-stricken Norway
Russia`s president and prime minister offered their condolences and assistance to the leaders and people of Norway, where two terrorist attacks killed at least 93 people on Friday.
Over 100,000 mourners attend vigil for massacre victims in Oslo
More than 100,000 people gathered in the Norwegian capital to express their sorrow and support for the victims of the twin attacks that claimed 76 lives on Friday.
Obama seeks Americans` support amid debt crisis
While US politicians are still tussling over how to raise the country`s debt ceiling, President Barack Obama has turned to the public for help in pushing through a deal on its debt. He wants Americans to put pressure on Congress to find a compromise.
Germany offers 100 million euros to Libyan rebels
Germany is offering a 100-million-euro loan to support the Libyan rebel movement, the German Foreign Ministry announced on Sunday. Author Jean Bricmont says it is nothing more than a way for Berlin to intervene into Libya`s affairs.
Euro no more
EU leaders have gathered in Brussels for an emergency summit on how to come up with the cash promised for a second bailout to Greece. While leaders squabble, failing to agree on how to resolve the crisis, the euro`s future hangs by a thread.
Strauss-Kahn rape cases to unite?
It looks like the case against Dominique Strauss-Kahn isn`t quite over yet.
News Corp faces new charges in the US
An investigation being launched by the US Justice Department into allegations of phone hacks carried out by Rupert Murdoch`s News Corp could lead to the first ever violation of the Foreign Corrupt Practices Act by any media company.
"There is no military solution to Libya situation"
Russian President Dmitry Medvedev and German Chancellor Angela Merkel have expressed a common stance that the conflict in Libya cannot be solved by military means, adding that they are united on the whole Middle East situation.
Anger from Israel`s forgotten allies
Eleven years after the decades-long Israeli-Lebanon hostilities ended and the Jewish state retreated, thousands of its allies still cannot come to terms with the consequences. Some feel betrayed by those they fought with against a common enemy.
Politicians fear Murdoch`s power
As the phone-hacking scandal surrounding Rupert Murdoch`s empire continues to unfold, many forget that the real danger of his empire lies in the tremendous influence it has over politics in the UK and the US. Politicians both fear and depend on it.
Greeks seek rural salvation from crisis
Most populations today surge into cities in search of jobs and money, but in Greece it seems the countryside is where fortunes can be furrowed. Greeks are moving out of the metropolis in a bid to survive the financial crisis their country is facing.
Obama lies about dying mother, book claims
Much of America has come to terms with President Obama being not the most truthful guy at times. He campaigned on ending US wars and has only started new ones. He vowed to close Gitmo yet the infamous prison is still in operation.