Europe clings to scorched-earth ideology as depression deepens
The eurozone has crashed back into double-dip recession. It will contract a further 0.3pc next year, according to a chastened European Central Bank. The ECB omitted mention of its own role in this fiasco by allowing all key measures of the money supply to stall in mid-2012, with the time-honoured consequences six months to a year later.
Time window of N. Korea's rocket launch begins
The announced time window of North Korea's rocket launch began as of 7:00 AM on Monday. North Korea has hinted at a possible postponement of the plan. But other nations remain on alert for the launch until a final decision by the North is confirmed.
Report: Israeli Special Forces Track Chemical Weapons in Syria
“We have known for years the exact location of Syria’s stockpile of chemical and biological weapons," an Israeli source told The London Times. He noted that satellites and unmanned drones have helped locate the weapons.
Russia arms Syria with powerful ballistic missiles
Hours after NATO agreed on Tuesday to send Patriot missiles to Turkey because of the crisis in Syria, Russia delivered its first shipment of Iskander missiles to Syria.
Mysterious booms rock Verde Valley
"It was a whole series of booms," Swesey said. "Up to six or seven. It was fast, it went loud. We were quiet and then my daughter down the hall screams really loud, ‘Did you hear that?' I sat there for a second and I heard another set." Swesey wasn't alone. Residents in communities in and around Verde Valley and as far as Flagstaff called 911 or their police and fire departments to report the strange booming sounds. "It sounded like thunder, but underground," Swesey said. "Like muffled thunder. And all the dogs in the neighborhood, all of them that were outside all started barking at once."
Phillippines Jolted by 5.7 Magnitude Earthquake
A strong 5.6 magnitude earthquake just jolted the Phillippines moments ago. The quake’s epicenter was 9km E of Talisay. Presently there are no reports of any injuries or damage and no tsunami warnings were issued yet.
Moderate earthquake recorded in New Guinea
An earthquake with an estimated magnitude of 5.2 shook portions of New Guinea Sunday at about 10:30 a.m. PST, the U.S. Geological Survey reported in an email alert. It was 4:30 a.m. Monday in New Guinea when the earth shifted.
Wall St Week Ahead: "Cliff" worries may drive tax selling
Investors typically sell stocks to cut their losses at year end. But worries about the "fiscal cliff" and the possibility of higher taxes in 2013 may act as the greatest incentive to sell both winners and losers by December 31. The $600 billion of automatic tax increases and spending cuts scheduled for the beginning of next year includes higher rates for capital gains, making tax-related selling even more appealing than usual.
Chinese Group Buys 80% of AIG Plane Unit for $4.2 Billion
A Chinese group agreed to buy 80.1 percent of American International Group Inc. (AIG)’s plane-leasing unit for $4.23 billion in the nation’s largest acquisition of a U.S. company. The International Lease Finance Corp. acquirers, led by New China Trust Co. Chairman Weng Xianding, have an option to buy another 9.9 percent, New York-based AIG said today in a statement.
Deadly clashes in Lebanese city of Tripoli
Six people were killed and at least 40 injured in the Lebanese city of Tripoli in clashes on Sunday between opponents and supporters of Syria's president. Since Tuesday, 19 people have died in the fighting between residents of the Alawite district of Jabal Muhsin and the Sunni Muslim Bab al-Tabbana area. Sectarian tensions in Tripoli have been aggravated by the conflict in Syria.
Arabs offer Palestinians $100 million a month "financial safety net"
Arab states agreed to provide the Palestinian Authority with a $100 million monthly "financial safety net" to help President Mahmoud Abbas's government cope with an economic crisis after the United Nations granted de facto statehood to Palestine.
Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months
And we thought last month's delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend.
North Korea extends rocket launch period over Christmas
A day after announcing a review of the original December 10-22 launch schedule, the Korean Committee of Space Technology said it was extending the window to December 29. In a statement carried by the official Korean Central News Agency, the committee said scientists and technicians were still "pushing forward" with preparations for the mission.