NewsTrust - Global Economy - Most Recent Stories: News (Independent)

Pakistan: The Kerry Lugar Bill

Wed, 14 Oct 2009 00:00:00 -0700

Global Voices - By Faisal Kapadia - Oct. 14 (News Analysis) - The Kerry Luger bill is essentially a non military aid package granted to Pakistan by the U.S in view of its precarious economic condition due to its indulgence in the war on terror as a front line allied state. This bill grants Pakistan $1.5 billion annually for five years and comes along with stringent conditions on how to distribute and invest this money.

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South America in an arms race?

Sun, 20 Sep 2009 00:00:00 -0700

GlobalPost - By Nadja Drost - Sep. 20 (News Report) - Concerns over a possible arms race on the South American continent have turned the spotlight on who’s buying what and why. Brazil, Venezuela and Colombia in particular appear determined to prove they won't be pushed around by their neighbors and are vigorously defending their military buildup. There is no question that South America is on arms spree, with major purchases by Venezuela and Brazil stoking fears over the possible consequences of flaring regional tensions on an increasingly militarized continent.

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Bonus Battle

Sat, 19 Sep 2009 00:00:00 -0700

Link TV - By Erin Coker - Sep. 19 (News Analysis) - The Fed stepped up today with the US version of a worldwide backlash on bonuses for bankers. Led by French President Nicholas Sarkozy, this is another example of the G20 nations' rising power. Sarkozy is dragging a reluctant US along on his crusade to curb banker's pay. It only works if the whole world does it - and that could never have happened in the past, even though majorities of Americans have steam coming out of their ears over the obscene bonuses.

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Nobel Prize winner Norman Borlaug dies at 95

Sun, 13 Sep 2009 00:00:00 -0700

apnews.excite.com - Sep. 13 (News Report) - Agricultural scientist Norman Borlaug, the father of the "green revolution" who won the Nobel Peace Prize for his role in combating world hunger and saving hundreds of millions of lives, died Saturday in Texas.....Many experts credit the green revolution with averting global famine during the second half of the 20th century and saving perhaps 1 billion lives..

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Japanese Voters Oust Conservative Party, PM-Elect Hatoyama Critical of US "Market Fundamentalism"

Tue, 01 Sep 2009 00:00:00 -0700

Democracy Now - By Steven Clemons, Amy Goodman, Sharif Abdel Kouddous - Sep. 01 (News Report) - In Japan, voters have ousted the right-leaning Liberal Democratic Party, or LDP, after fifty-five years of nearly uninterrupted governance. In elections on Sunday, the populist Democratic Party of Japan captured a record 308 of the 480 seats in the lower house of parliament. Democratic Party leader Yukio Hatoyama, who is expected to become Japan’s new prime minister, has questioned the role of the 50,000 American troops deployed throughout Japan and, in a recent New York Times op-ed, blamed the global financial meltdown in part on what he called US “market fundamentalism.”

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Health Care: America and the World

Fri, 28 Aug 2009 00:00:00 -0700

Link TV - Aug. 28 (News Analysis) - The U.S. health care debate is raging, and other developed countries are part of the argument -- though not always willingly. Everyone has a health care story, so tell us yours -- no matter what country you live in -- at Link TV's new webcam discussion site, Real Conversations.SOURCES: CCTV, China; BBC, U.K.; KBS, S. Korea; Fox News, U.S.; CBS News, U.S.; CNN, U.S.

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Focus on Afghanistan

Tue, 18 Aug 2009 00:00:00 -0700

economystory.org - By Laura Hertzfeld - Aug. 18 (News Analysis) - In the lead up to the Afghan presidential election, there’s been a growing number of stories about whether the vote will be fair, as well coverage about how the ongoing U.S. involvement in conflicts abroad affects our own economy.

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Life After the Death of the Public Option

Sun, 16 Aug 2009 00:00:00 -0700

FiveThirtyEight - By Nate Silver - Aug. 16 (News Analysis) - From the President on downward, the White House now seems resigned to losing the fight over the "public option", a government-run insurance plan that would complete against private plans. It's time to re-assess the playing field in light of this development.Is the public option really dead?

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Feds Build Criminal Cases Against US Tax Evaders

Fri, 14 Aug 2009 00:00:00 -0700

CNBC.com - By Lynnley Browning The New York Times - Aug. 14 (News Report) - Federal prosecutors are building criminal cases against 150 wealthy American clients of the Swiss banking giant UBS as part of a continuing investigation into tax evasion. In February, UBS agreed to pay $780 million to settle charges that it had helped American clients evade taxes on nearly $20 billion hidden in offshore accounts.

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Pakistan: Lawyers On A Rampage

Thu, 13 Aug 2009 00:00:00 -0700

Global Voices - By Sana Saleem - Aug. 13 (News Analysis) - The recent news of some lawyers harassing members of civil society, journalists and the police has raised a lot of eyebrows. Pakistani bloggers remember the heroic role of these men of law in the inspirational and much successful Lawyers movement and question these actions.

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Warning green fears could make farming more industrialised

Sun, 09 Aug 2009 00:00:00 -0700

nzherald.co.nz - By Geoff Cumming - Aug. 09 (News Report) - Images of carefree cows roaming free, chewing grass or silage year round (well, almost), used to be the green selling point of New Zealand's dairy industry. Not for us those "factory farms" of the Northern Hemisphere where the poor cows are consigned to sheds and fed grain for long periods.

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Robert L. Borosage: The Debtor's Dance: the US-China Exchange

Wed, 29 Jul 2009 00:00:00 -0700

Huffington Post - By Robert L. Borosage - Jul. 29 (News Analysis) - This has been Obama's revolutionary message to the leaders of the world. The U.S. cannot go back to the old economy where we borrowed $2 billion a day, largely from the Chinese, to be the consumer of the world by living far beyond our means. We must consume less, produce more, and sell more abroad and balance our trade.

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Beyond Kyoto: Time to Switch Targets?

Tue, 14 Jul 2009 00:00:00 -0700

OurFuture.org - By Sam Pizzigati - Jul. 14 (Special Report) - Rich and poor, the new study points out, live in every nation, and the rich — wherever they live — pound a much greater carbon footprint than the poor.

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Uighur workers held behind locked gates

Fri, 10 Jul 2009 00:00:00 -0700

GlobalPost - By Kathleen McLaughlin - Jul. 10 (News Report) - SHAOGUAN, China — Three weeks after simmering racial tension escalated to mayhem and a double murder at a toy factory here, about 750 Uighur workers remain largely out of sight, behind locked gates and guarded doors. But their story has sparked violent clashes and brought international attention to a remote Chinese province.

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Thick as a BRIC

Tue, 07 Jul 2009 00:00:00 -0700

GlobalPost - By Michael Moran - Jul. 07 (News Analysis) - he global economic crisis has put the United States on the defensive, both economically and politically, and looming behind everything Washington does on the world stage these days is a historic question: Is this the beginning of the end of the American juggernaut? In Moscow, many hope the answer is “yes.”

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Italians Protest US Base Expansion, G8

Mon, 06 Jul 2009 00:00:00 -0700

current.com - By Ian Simpson - Jul. 06 (News Report) - VICENZA, Italy - Anti-G8 demonstrators clashed briefly with Italian police on Saturday in the first big protest ahead of next week's summit of the world's richest nations. Riot police clash with protesters demonstrating against a military base used by U.S. paratroops, in the northern Italian city of Vicenza July 4, 2009. Thousand of Italians gathered under heavy police guard on Saturday to protest against the expansion of a U.S. military base that has aroused strong opposition. REUTERS/Tony GentilePolice in riot gear fired teargas at protesters to prevent them from crossing a bridge and moving closer to a controversial U.S. military base in the northeastern city of Vicenza.

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Foreign workers for U.S. are casualties twice over

Sun, 21 Jun 2009 00:00:00 -0700

ProPublica - By T. Christian Miller - Jun. 21 (Special Report) - Rey Torres dreamed of a better life for his wife and five children when he left a neighborhood of wooden shacks and burning trash piles to drive a bus on a U.S. military base near Baghdad. He hoped to send his children to college and build a new home with the $16,000 a year he earned in Iraq -- four times what he could make in the Philippines. Then, in April 2005, Torres, 31, was killed in an ambush by Iraqi insurgents. His widow and children were supposed to be protected by a war zone insurance system overseen by the U.S. government. They were eligible for about $300,000 in compensation.

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Turning tricks for less

Sun, 31 May 2009 00:00:00 -0700

Inquirer.net - By Mariette le Roux - May. 31 (News Report) - Eva, a 25-year-old prostitute in Amsterdam's red-light district, gestures angrily in the direction of a rival who has slashed her rates as the economic crisis emboldens sex tourists to haggle. "People like her make it very difficult for the rest of us," scowled the tall, blonde Estonian in skimpy black-and-white lingerie as she dragged on a cigarette while posing for men passing the window in which she offers herself.

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GM bankruptcy near as bond swap fails, no Opel deal

Thu, 28 May 2009 00:00:00 -0700

International Business Times - By Kevin Krolicki, Madeline Chambers - May. 28 (News Report) - General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed, while the fate of GM's European brand Opel remained uncertain after marathon talks with German officials ended without a deal.

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Russia Prepared to Invest $10Bln in IMF Bonds

Thu, 28 May 2009 00:00:00 -0700

sptimes.ru - By Ira Iosebashvili - May. 28 (News Report) - Russia is prepared to invest up to $10 billion from its reserves into the International Monetary Fund’s first-ever bond issue, a move that some say could signal a bid to gain greater influence in IMF decisions.

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Secret meeting of world's richest people held in New York | Irish News | IrishCentral

Wed, 20 May 2009 00:00:00 -0700

irishcentral.com - By Niall O'dowd - May. 20 (Investigative Report) - A top-secret meeting of the world’s richest people to discuss the global financial crisis was held in New York on May 5, IrishCentral.com has learned exclusively.

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Biotech firms outsource to Asia

Mon, 18 May 2009 00:00:00 -0700

GlobalPost - By Tom Abate - May. 18 (Special Report) - The global financial crisis has hurt biotechnology, an industry in which it can take a billion dollars and 10 years to create a marketable medicine. But a survey of worldwide industry trends suggests that the funding shortage hitting North American and European market leaders could benefit emerging biotech clusters in Singapore, India and China.

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“We hate you guys … but there is nothing much we can do”

Sun, 17 May 2009 00:00:00 -0700

Council on Foreign Relations - By Brad Setser - May. 17 (News Analysis) - Private Chinese savers presumably wouldn’t want to buy Treasuries at current rates. But China’s current exchange rate regime compels China to buy dollars when private Chinese investors don’t want them.*** The result: a strange world where China’s government ends up buying an asset that China’s people currently do not want …

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Where are Argentina's coins?

Mon, 11 May 2009 00:00:00 -0700

GlobalPost - By Anil Mundra - May. 11 (News Report) - A serious shortage of coins in Argentina causes problems for consumers and merchants. Black markets have reportedly cropped up for the resale of coins at more than 7 percent above their face value. And starting in June in Buenos Aires, more than half of the 3,200 members of the Chamber of Chinese Supermarkets (ubiquitous small groceries run by immigrants from China, not markets of Chinese food) will start issuing their own special bonds as change for purchases, worth 10 percent more than the coins they would otherwise give customers.

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Obsessive Housing Disorder by Steven Malanga, City Journal Spring 2009

Sat, 09 May 2009 00:00:00 -0700

City Journal - By Steven Malanga - May. 09 (Investigative Report) - Almost everything that the Times accused the Bush administration of doing has been pursued many times by earlier administrations, both Democratic and Republican—and often with calamitous results.

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