Tuesday, June 08, 2010


News Links, June 9, 2010

-- Global economic meltdown --
Europe's `Herculean' Effort to Save Single Currency May Founder, RBS Says
Contagion Spreading Further to Core Eurozone
As growth in U.S. slows, Wal-Mart puts more emphasis on foreign stores
Spanish public sector to strike against austerity plan
Pimco's Crescenzi Sees 'Endpoint' in Devaluations
"Debt-fueled spending programs aimed at combating the global financial crisis of 2008 are among policy tools now 'being seen as a magic elixir that has morphed into poison.'"
Asian Single-Currency Plan Must Go on Despite Euro, ADB Says
UK coalition must cut budget deficit faster, Fitch ratings agency warns
Japan May Bank Lending -2.1%, 6th Y/Y Drop In Row; Apr -1.9%
A generation in Spain derailed (youth unemployment rate: 40%)
12 Charts That Show A Big Eastern European Crisis Coming
Markets About to Turn Nasty, Buy Barbed Wire: Advisor
Greek Default Seen by Almost 75% in Poll Doubtful About Trichet
Greek Inflation Jumps
Silver Shares Sparkle, Gold Keeps Glittering
Why Beer-Can Shortage Means Brazil Will Boost Rate
"Brazil is running out of beer cans and farmers are leaving crops in the field as surging demand and Chinese-like growth leads to shortages in Latin America's biggest economy."

Saudi Arabia to join International Grains Council
"Dealers estimate Saudi Arabia will import around 3 million tonnes of wheat a year by 2011/12."
Haitian Farmers Urged to Burn Donated US Seeds

-- Tensions --
Iran Red Crescent to send two aid ships to Gaza
German Authorities Concerned about Far-Left Terror Manual
North Korean border guard 'shoots three Chinese dead'
Fifteen injured as Istanbul bomb hits police bus
Iran's Ahmadinejad slams 'devilish' Israel
Kenya asks US to lead int'l effort in Somalia (Well, if you insist...)
China-picked rival to Dalai Lama tours Tibet
U.S. leans toward selling Iraq F-16s
Pakistan launches homemade JF-17 jet
Pakistan has driven militants from all but one region, says army
Israel condemned at Turkey summit
Putin Backs U.N. Probe of Flotilla Raid
Iran's President to Visit China
'US funding terrorist group against Iran'

-- Energy --
Exxon Execs Warn On Curbing On Deepwater Drilling
China-Myanmar oil and gas pipeline project underway
Russian PM: gas pipeline unlikely to go to Israel
Greece signs on to South Stream
Saudi Aramco Has 260 Billion Barrels Oil Reserves
Middle East Producers See More Heavy Oil in their Future
EIA: From Forecast of Oil Supply Abundance to Decade of Stagnation

Tough times ahead for China steel companies

UK: Cuts already hitting the vulnerable, warns TUC
Up to 650 jobs to go at Northern Rock
Worst universities 'could be closed', says CBI
Falklands oil drilling gets more cash

Canada: G20 protesters could be hit with sonic guns
NORAD leader pledges support for G8, G20

US: -- Oil disaster --
Shallow Offshore Exploration Could Resume in Days as Economic Woes Mount
Oil spills escalated in this decade
BP well may be spewing 100,000 barrels a day, scientist says
Killer Undersea Oil Plumes From BP Spill Lurk in Gulf of Mexico
"Researchers have said the oil slick washing ashore is a small portion of what has leaked and the undersea crude can wipe out marine life while remaining invisible from the surface."
Subsea oil plumes found 142 miles from rig
Talk of Second Oil Spill in Gulf Grows Louder
Senator confirms reports that wellbore is pierced; oil seeping from seabed in multiple places
-- Economic disaster --
Baltimore Suspends Bulk Trash Collection
Maine eyes $85M hole in budget
Animal-Human Hybrids Banned in Some States
Banks in 'Downward Spiral' Buying Capital in Discredited CDOs
Fed agencies told to cut budgets 5 percent
'Extremely Active' Hurricane Season May Test Catastrophe Bonds
More than 1 in 5 kids live in poverty
Payday lending: Turning Poverty Into A Multibillion-Dollar Industry
Five reasons the employment numbers are worse than they seem
Teens Face Worst Summer Job Market in 41 Years
Homeland Security sharpens up surveillance
To justify AIG's bailout, regulators overlooked its colossal problems
Housing's Double Dip: Numbers Tell How Bad It Is
Massachusetts legislature mulls monthly limit on gun purchases
State official says summer jobs for teens needed to fight 'urban unrest'
Bank Stocks Suddenly Face Major Headwinds, Says Bove--Mainly Bank Of America

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