Wednesday, June 30, 2010


News Links, July 1, 2010

-- Global economic meltdown --
Global banks face US$5 trillion rollover
Sri Lanka sets out budget aimed at cutting deficit
Derivatives laws could cost companies $1 trillion: ISDA
We Are Now Experiencing Global Credit Crisis #2
CBO's math on budget deficit presents daunting choices for US
Russia Buys 22 Tons Of Gold In May
Moody's Puts Spanish Debt on Review for Downgrade
Governments Moving to Cut Spending, in Echo of 1930s
Central Banks Trim Euro, Dollar Holdings

-- Fault lines --
Russia plays down US spy arrests
Europe must impose tough oil sanctions on Iran: US
Turkey Asks Iran to Return to Negotiating Table
Iran sees no risk to gasoline imports, official says
Beyond Gasoline: Congress Targets Iran's Access to Critical Energy Know-How
Taliban attack Nato base in Afghanistan
Dangerous Afghan highway threatens NATO supply flow
Saudi Arabia wants US to pressure Israel on peace in the Middle East
Cyber Terrorism Is Now Seen as a Real Threat (WSJ)
Gaza flotilla: Israeli minister 'meets Turkish foreign minister to improve relations'
Spain grinds to halt on third day of strike
Riots Break out in Iraq Over Energy Shortages
Spain, Britain Fight Over Airspace Near Gibraltar
China To Stage Live-Fire Military Exercises

-- Energy/resources --
China To Move Tens Of Thousands For Huge Water Scheme
*This grand plan, known as Nanshui Beidiao ("supplying the south's water to the north"), hails back to the time of Mao Zedong.
The End of Oil, and Government
Government institutions in Pakistan owe $2bn to cash-strapped national power company
The road to peak coal: Coal Calamities Rack Prices (WSJ)
"A string of deadly coal mining accidents around the world that have forced production cutbacks and prompted crackdowns on safety standards will constrain supplies and could lead to sharply higher prices for some types of coal."
Blimps could replace aircraft in freight transport, say scientists
Scientist: World must expect more spills because days of "easy oil" are over
Michael Klare: Grappling With The Age Of 'Tough Oil'

-- Oil gusher --
BP Spill, Day 72: Could the Deepwater Horizon Disaster Destroy the Gulf?
Alex Blows Into Hurricane Strength In Western Gulf
As CEO Hayward Remade BP, Safety, Cost Drives Clashed
Biologists find 'dead zones' around BP oil spill in Gulf
Deepwater Oil Risks Greater Than Industry Admitted

Japan Airlines May Ask Creditors for Additional Debt Waiver, Kyodo Reports
JAL's net negative worth hits ¥1 trillion

UK: One in nine churches in 'poor condition'
Second Bank Bailout Could Break Britain

US: Airline Food Health Threat: Roaches, Rat Feces, Horrors, Says FDA
Grass along state roads and highways across New Jersey has grown out of control
California Cities Shutting Police Forces to Close Budget Gaps
More California school districts edging closer to insolvency, state says
With federal stimulus funds running out, economic worries grow
Munis Underperform Treasuries With Default Concern Raising Risk Premium
Iran nuclear scientist Shahram Amiri 'flees US captors'
Americans are still getting fatter
Foreclosures: President says some families will lose homes
The biggest ponzi scheme market ever created (synthetic derivatives)
Crunchtime for mutual funds has arrived
Stealth Austerity Already Hitting the U.S.
America, A Faltering Empire
California Economy Is a Sign of What's Coming: Fiorina
Law enforcement agencies in Northern Virginia say you have no right to know what they're doing
White House To Streamline Arms Export License Process
Senate Panel Approves Controversial Cybersecurity Bill

And finally... Italian Job: nearly half of European bank robberies take place in Italy

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