Spain unveils new austerity under European pressure
MADRID - Recession-plagued Spain unveiled new austerity measures on Wednesday designed to slash 65 billion euros from the public deficit by 2014 as Prime Minister Mariano Rajoy yielded to EU pressure to try to avoid a full state bailout.
Assad loses envoy in first diplomatic defection
BEIRUT - Syria's ambassador to Iraq defected on Wednesday in protest at the military crackdown by President Bashar al-Assad's forces against a 16-month uprising, Syrian opposition sources said. | Video
Greece too far behind to copy Irish model
DUBLIN/ATHENS - Ireland has become the poster boy of international lenders, held up as a model of European austerity to problem child Greece. But Ireland's success has as much to do with an austerity programme that predates its bailout by over two years. Full Article
Tycoon Branson plans to launch satellites
FARNBOROUGH - Flamboyant businessman Richard Branson, whose Virgin empire has encompassed airlines, music stores, mobile phones and condoms, is turning his hand to launching satellites. Full Article
Developed or developing? Try merging markets
Investors are criss-crossing the increasingly smudged line between emerging and developed markets as the euro zone crisis challenges traditional perceptions of a safe investment. Full Article | Factbox
Universal draft a call to arms for Israeli Arabs
JERUSALEM - They may inhabit parallel universes, but most ultra-Orthodox Jewish men and Israeli Arabs share the same instinctive aversion of the idea they should be forced into military service. Full Article
Turkey on verge of being major power market
Turkey is likely to overtake Britain as Europe's third-biggest electricity consumer within a decade and become an energy trading hub, adding to its growing influence as a major economic and political player between Central Asia, the Middle East and the European Union. Full Article
In modern scandal, an e-mail is forever
Businesses, governments, individuals and institutions around the world are all gradually waking up to the same realisation. In the 21st century anything written down electronically can be stolen or subpoenaed and come back to haunt the writer - and others - years later. Full Article
Tigers kill man who scaled fence at Danish zoo
July 11 - Zookeepers in Copenhagen discover the dead body of a young man inside the tiger enclosure with wounds to his throat. Deborah Lutterbeck reports.
Latest Headlines
BoE governor’s arm-twisting raises tricky issues
Barclays’ chairman says Mervyn King made it plain to him that Bob Diamond no longer enjoyed the support of regulators. While the bank should have got rid of its CEO, King had no official authority to tell it to do so. So what exactly happened? Commentary
Regulators have to tackle flawed benchmarks
Britain and the EU are considering official control of Libor and other rates. Criminal sanctions would help to deter future misbehaviour, though intervention could have unintended consequences. There’s no point pretending market barometers are a purely private matter. Commentary
Is Murdoch trying to sink Romney?
Why is America’s most powerful conservative media baron turning his fire on the conservative candidate just four months before the election? Commentary
Central bank stimulus won’t solve the crisis
Fear abounds. The global economy may be teetering. What should central banks do? In the developed world, they should recognise that monetary policy has gone as far as it can without becoming more harmful than helpful. They cannot speed up the slow recovery. Commentary
Europe has lost its ability to surprise
The only news from Europe that would shock the markets would be a total breakup of the euro and Lehman-style financial meltdown. Such a breakup is possible, but it isn’t yet likely. Unless a breakup happens, Europe will create lots of volatility, but the trend in financial markets will be set by events elsewhere. Commentary
Progressives are progressing toward what, exactly?
Progress doesn’t just mean going forward: It means going forward to a better place. But a better place isn’t currently available. How do you fire up the sinews of a movement by calling for less? Tough, but that's the current job description for progressives. Commentary
The wonks who sold Washington on South Sudan
WASHINGTON - In the mid-1980s, a small band of policy wonks began convening for lunch in the back corner of a dimly lit Italian bistro in the U.S. capital. After ordering beers, they would get down to business: how to win independence for southern Sudan. Full Article
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