Monday, January 16, 2012

EUROZONE: S&P downgrades eurozone bailout fund

EUROZONE: S&P downgrades eurozone bailout fund

EUROZONE: S&P downgrades eurozone bailout fund

Posted: 16 Jan 2012 11:45 AM PST

Standard & Poor's rating agency on Monday downgraded the EFSF eurozone bailout fund to AA+. The EFSF's CEO Klaus Regling sought to reassure markets by stating the downgrade would not reduce the fund's lending capacity.

ITALY: Cruise ship fuel poses 'environmental risk'

Posted: 16 Jan 2012 01:32 PM PST

Italian environmental minister Corrado Clini warned Monday of a "very high" environmental risk for the island of Giglio if the ill-fated Costa Corcordia's 2,300 tonnes of fuel start leaking into the sea.

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NIGERIA: Unions call off strike as petrol prices slashed

Posted: 16 Jan 2012 10:19 AM PST

Nigerian unions suspended their nationwide strikes Monday, following President Goodluck Jonathan's decision to partially restore petrol subsidies. Earlier, soldiers in the commercial capital of Lagos fired warning shots at protesters.

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CINEMA: 'The Artist': From French risk to Hollywood juggernaut

Posted: 16 Jan 2012 09:10 AM PST

High on its trio of Golden Globe awards, "The Artist" looks more than ever like an Oscar favourite. France24.com takes a closer look at how a black-and-white, silent French film charmed Hollywood into submission.

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On The Observers: Italian shipwreck in amateur images

Posted: 16 Jan 2012 11:12 AM PST

  The Costa Concordia, a luxury cruise liner, ran aground Friday night off the coast of Tuscany. At least six people died and 15 are still missing after the Italian vessel's hull struck a bed of rocks when it cruised too close to Giglio Island. Watch the videos.

FRANCE: Presidential hopefuls cash in on France AAA loss

Posted: 16 Jan 2012 09:30 AM PST

The loss of France's AAA credit rating is a potential boon to presidential hopefuls trying to catch up with the two candidates from France's biggest political parties.

SYRIA: UN to train Arab League Syria observers

Posted: 16 Jan 2012 01:37 PM PST

The United Nations tried to step up pressure against Syria on Monday as chief Ban Ki-moon urged action from the Security Council. UN officials also said they would train Arab League observers monitoring the country's ongoing violence.

USA: Republican Huntsman drops bid for US presidency

Posted: 16 Jan 2012 01:25 PM PST

Former Utah governor Jon Huntsman dropped out of the Republican presidential race Monday, and is set to endorse frontrunner Mitt Romney for the 2012 nomination. This comes just ahead of South Carolina's crucial vote.

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FRANCE: Moody's confirms top 'AAA' credit rating for France

Posted: 16 Jan 2012 03:21 AM PST

Moody's confirmed France's top AAA credit rating on Monday but said it was reviewing whether France still merited its "stable" outlook. The move follows Standard and Poor's decision to downgrade nine eurozone nations including France on Friday.

On The Observers: Unrest in Romania: ‘violent rioters were simply out for a fight’

Posted: 16 Jan 2012 10:22 AM PST

  Protests over austerity measures in Romania were marred by violence on Sunday after at least 30 people were injured in clashes with police. Our Observer, who witnessed the events, explains the violence was sparked by a small band of young people that he says was separate from the larger group of peaceful protesters. Read more...  

DIPLOMACY: Sarkozy warns of 'unprecedented crisis' on visit to Spain

Posted: 16 Jan 2012 01:29 PM PST

French President Nicolas Sarkozy warned Monday that Europe was facing an "unprecedented crisis" in a joint press conference in Madrid with new Spanish Prime Minister Mariano Rajoy. Sarkozy was in Spain to be made a Knight of the Golden Fleece.

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LIBERIA: Clinton praises Liberia's progress at Sirleaf's inauguration

Posted: 16 Jan 2012 09:41 AM PST

US Secretary of State Hillary Clinton attended the swearing-in ceremony of Liberian president Ellen Johnson Sirleaf in Monrovia Monday. Clinton praised the turbulent nation's progress, saying democracy had "taken root."

PAKISTAN: PM declared in contempt over presidential corruption probe

Posted: 16 Jan 2012 01:44 AM PST

Pakistan's Supreme Court found Prime Minister Yousuf Raza Gilani (pictured) in contempt on Monday for not obeying an order to reopen corruption probes into the country's president. Gilani has been ordered to appear in person on January 19.

MARKETS: European markets calm despite eurozone downgrade

Posted: 16 Jan 2012 03:02 AM PST

European markets fell at the start of trading before levelling off Monday morning, the first day of trading since nine eurozone nations – including France and Austria – were downgraded by Standard and Poor's ratings agency late Friday.

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USA: American student loans - the next subprime crisis?

Posted: 16 Jan 2012 06:46 AM PST

With university education more expensive than ever in the US, more and more students are taking out loans to cover the costs. But with America's economy on rocky ground and well-paying jobs scarce, many graduates are defaulting on their loans. Some economists now worry that the student bubble might burst.

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THE BUSINESS INTERVIEW: Martin Wolf, Chief Economics Commentator, Financial Times

Posted: 16 Jan 2012 05:10 AM PST

Once again European leaders are under pressure to stem the eurozone debt crisis. 2012 has started with a flurry of diplomatic activity and a series of meetings between leaders. It's all building up to another EU summit at the end of the month. But where is the talking taking us?

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