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Italy frees up to ?30BN to pay overdue bills
The Italian government is to free up to €30 billion ($38.25 billion) to make overdue payments to businesses that have supplied goods or services to state institutions.
Publ.Date : 2012-05-22T12:12:30Z
Japan opposition hints at tax deal if spending plans cut
TOKYO (Reuters) - Japan's main opposition party appeared to offer a compromise after months of stalemate over a proposed sales tax hike, with a senior official saying it could cooperate with the government on the tax plan if it dropped its costly welfare spending pledges. Prime Minister Yoshihiko Noda needs the support of the opposition, which controls the upper house of parliament, to push through his plan to double the 5 percent sales tax by 2015, seen as a first step in efforts to curb Japan's snowballing public debt. ...
Publ.Date : 2012-05-22T12:33:40Z
Egypt court convicts police over protest deaths
CAIRO (Reuters) - An Egyptian court sentenced five policemen on Tuesday to 10 years each in prison for their role in killing protesters in the uprising that toppled Hosni Mubarak, the first such convictions against a force that was blamed for hundreds of deaths. One of the driving forces behind demonstrations that have erupted since Mubarak was ousted in February last year has been anger that no officials or police have been held accountable for the deaths of more than 850 people during the uprising. ...
Publ.Date : 2012-05-22T12:05:32Z
Where are Facebook's friends? Stock down after IPO
FILE - In a Friday, May 18, 2012 file photo, curious bystanders watch through the Nasdaq windows as Facebook shares begin trading, in New York. Facebook's stock is sinking nearly 7 percent, Monday, May 21, 2012, falling below the $38 IPO price, in the social network's second day of trading as a public company. (AP Photo/Richard Drew, File)Facebook was supposed to soar. Instead, it plunged.
Publ.Date : 2012-05-22T12:16:23Z
Gingrich's private ventures are going bankrupt
Republican presidential candidate and former Speaker of the House Newt Gingrich speaks during a campaign event at the Hilton Hotel in Arlington, Virginia(Reuters) - ATLANTA - When he entered the race for the Republican presidential nomination in May 2011, Newt Gingrich was the prosperous head of a small empire commonly known as Newt Inc, which included both for-profit consultancies and nonprofit foundations. Altogether, these entwined ventures pulled in more than $110 million over the past decade. Now the vestiges of this empire are mired in debt, as is Gingrich's campaign fund. ...
Publ.Date : 2012-05-22T12:08:48Z
Italy frees up to $38BN to pay overdue bills
Italian Prime Minister Mario Monti is seen in Brussels. President Barack Obama will play host this weekend to an extraordinary confluence of international summitry, with world leaders scuttling from the Maryland mountains to downtown Chicago as they grapple for fixes to Europe's mounting economic woes and solidify plans for winding down the decade-long war in Afghanistan. (AP Photo/Yves Logghe, File)The Italian government is to free up to €30 billion ($38.25 billion) to make overdue payments to businesses that have supplied goods or services to state institutions.
Publ.Date : 2012-05-22T12:30:46Z
Monti to help Italy's quake-hit farms, factories
Italian Premier Mario Monti visits a tent camp in the village of Finale Emilia, in the area hit by an earth quake, Tuesday, May 22, 2012. Italian Premier Mario Monti has promised to help small-scale businesses, especially factories and farms, in the region of northern Italy struck by quake. Monti's visit to the Emilia Romagna region included a stop at a ceramics factory where two workers died after it collapsed. In all, the quake claimed seven lives. (AP Photo/Gianfilippo Oggioni, Lapresse)Italian Premier Mario Monti has promised to help small businesses, especially factories and farms, in northern Italy that are hurting after an earthquake.
Publ.Date : 2012-05-22T12:23:07Z
Eurozone warned 'severe recession' looming
A woman walks past a closed-down travel agency plastered with concert posters in Madrid Monday May 21, 2012. Spain's economy minister de Guindos said the Spanish economy, which has contracted by 0.3 percent in each of the past two quarters, will shrink by about the same amount in the second quarter of 2012. The forecast is for it to decline 1.7 percent for the year. Unemployment stands at a staggering 24.4 percent, and exceeds 50 percent for people under age 25.(AP Photo/Paul White)The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy.
Publ.Date : 2012-05-22T12:16:53Z