– US military blew up pigs to test body armour (Telegraph):
American military researchers have blown up live pigs dressed in body armour in an attempt to study the link between roadside bomb blasts and brain injury.
– Fed Said to Order Banks to Stay Mum on ‘Stress Test’ Results (Bloomberg)
– IMF: German economy to contract by 5% in ‘09 (Inquirer):
BERLIN — The International Monetary Fund (IMF) now sees the German economy shrinking 5.0 percent this year, a sharp downward revision from the 2.5 percent contraction forecast in January, the weekly Der Spiegel reported Friday.
– The dark side of Dubai (Independent):
Dubai was meant to be a Middle-Eastern Shangri-La, a glittering monument to Arab enterprise and western capitalism. But as hard times arrive in the city state that rose from the desert sands, an uglier story is emerging.
– Russia furious with EU over Twitter revolution (Independent):
Moscow backs Moldovan President after he accuses Romania of supporting coup
– GM, Chrysler Ratings Are Cut by S&P as Deadlines Loom (Bloomberg):
April 10 (Bloomberg) — General Motors Corp. and Chrysler LLC had ratings cut on some of their debt by Standard & Poor’s as the automakers face government deadlines to restructure or file for bankruptcy.
– Microsoft fined $388 million over patent breach (Times Online)
– EU warns China over increasing steel exports (Telegraph):
A simmering trade conflict between Europe and China is nearing the boil as state-supported Chinese steel companies ramp up capacity despite drastic cuts by the rest of the world.
– Aso’s $153 Billion Boost to Japan Economy May Incur `Massive’ Future Cost (Bloomberg):
“Aso is very optimistic” on that jobs creation number when you compare it with Obama’s plan, Daley said. “When you throw $150 billion at an economy in one year, you will see an effect. It will not be long term, nor sustainable.”
– Obama to Push Immigration Bill as One Priority (New York Times)
– Gold price to break $1000 as people scrap gold jewellery for cash (Telegraph):
Gold may reach a record this year as demand for a hedge against inflation outpaces an expanding scrap supply and weaker usage by jewellers, according to researcher GFMS.
– U.S. Budget Gap Swells to $192.3 Billion as Recession Reduces Tax Revenue (Bloomberg)
– Fed downgrades view of economy (Times Online)
– Obama Orders U.S. to Buy 17,600 New Cars by June 1 (Bloomberg)
– Royal Mint is warned that one in 20 £1 coins is fake (Independent):
BBC study finds fake rate is twice as high as first thought