Global News (01/28/09)

House passes Stimulus without GOP help (San Francisco Chronicle):
President Obama won his first legislative victory as the House passed a $819 billion economic stimulus package Wednesday night, but his bid to woo Republicans failed to convince even a single GOP member to join Democrats to back the bill. Eleven Democrats joined the entire 177-member House GOP caucus in voting “no”…

UBS Cuts Bonus Pool for 2008 by More Than 80% to SF2 Billion ($1.75 billion)
(After having received $59.2 billion from the government the banksters are still paying themselves bonuses.)

Men who made £1bn as banks were bailed out (Guardian)

IMF predicts lowest global growth in 60 years (Financial Times)

Obama Picks Geithner And Lynn Aren’t ‘Change’ (CBS News):
The Obama administration made an exception to its ban on hiring lobbyists in nominating William Lynn, who lobbied for Raytheon, one of the military’s top contractors.

It seems exceptions are now the rule:
Geithner’s New Chief of Staff is Former Bank Lobbyist (Wall Street Journal):
WASHINGTON — The new chief of staff to Treasury Secretary Timothy Geithner was a top lobbyist for Goldman Sachs Group Inc. until last year, and will have to recuse himself from some government duties under new White House ethics rules.

Fed Keeps Rate as Low as Zero, Says Prepared to Buy Treasuries (Bloomberg):
Jan. 28 (Bloomberg) — The Federal Reserve left the benchmark interest rate as low as zero and said it’s prepared to purchase longer-term Treasury securities to resuscitate lending and the economy. (…to create inflation, destroy the dollar and create the greatest depression.)

Tax Refunds Now on Hold in California (ABC News):
ABC News has learned that tax refunds are now on hold in California for the first time in state history, according to the state controller’s office.

Bleeding banks prompt talk of new big US bailout (Reuters):
WASHINGTON, Jan 27 (Reuters) – Major U.S. banks are still hemorrhaging red ink, despite massive taxpayer aid, and President Barack Obama is under pressure to take a high-stakes political gamble — asking for another bailout.

Warning over collapse in capital flows (Telegraph)

Wells Fargo takes $294m Madoff hit (Financial Times)

US houses sink at fastest rate on record (Times Online)

Soros closes sterling shorts (Financial Times)

Lilly May Spend $2 Billion More on Zyprexa Lawsuits (Bloomberg)

Santander offers €1.38 bn to compensate clients hit by Madoff (Times Online)

Pakistan predicts growth of up to 4% (Financial Times)

ALEX BRUMMER: British taxpayers are bailing out an Indian car giant in a deal that may pleaso no one (Daily Mail)

Japan joins world bail-out race (Financial Times)

Car industry to fight Barack Obama’s green proposals (Telegraph):
Car industry groups are gearing up for a long fight and the likelihood of legal action against proposals by President Barack Obama to allow California and other states to set their own regulations on greenhouse gas emission from vehicles.

Interfax: Russia suspends Kaliningrad missile plan (IHT)

Russian stability threatened by anger over economy (Telegraph)

Russia defence spending soars (Telegraph)

Ahmadinejad says Obama must apologise to the Iranian people for Bush (Times Online)

Canada set to unveil stimulus package (Financial Times)

First Reports of MRSA Isolation in US Swine and Hog Farmers (MedPage)

Israeli warplane bombs Gaza’s smuggling tunnels (Telegraph)

Chief Rabbinate of Israel cuts ties with Vatican over Holocaust bishop (Times Online)

Israeli strikes leave Blair project with major repairs (Independent)

Co-op bans eight pesticides after worldwide beehive collapse (Guardian)

Gates: Cash Cows of War Running Dry (Wired News)

Study Finds High-Fructose Corn Syrup Contains Mercury (Washington Post)

Global News (01/27/09)

President Obama leads US drive to topple Robert Mugabe in Zimbabwe (Times Online)

Halliburton to pay record $559m to settle bribery case (Times Online)

Citigroup going through with $50 mln plane order-source (Reuters):
NEW YORK, Jan 26 (Reuters) – Citigroup Inc (C.N), which has received $45 billion of capital from the U.S. government, is going through with plans to buy a $50 million jet but a U.S. senator called the deal absurd and wants the Obama administration to block it.

OBAMA & CONGRESS BLAST CITI OVER JET (New York Post)

Week of mass strikes set to paralyse France in protest against against Sarkozy’s reforms (Guardian):
Nicolas Sarkozy this week faces the first mass-protests over his handling of the financial crisis as unions prepare to paralyse France in a general strike uniting train-drivers, air traffic controllers, journalists, bank staff and even ski-lift operators. “Black Thursday” is the first general strike since the French president’s election in 2007. All the leading unions have joined forces to protest that the government’s stimulus plans should focus less on companies and more on workers’ job-protection and purchasing power.

AP IMPACT: US bets execs can save banks, this time (AP):
WASHINGTON (AP) — It’s one of the ironies of the U.S. financial bailout: The banking executives now managing billions in taxpayer money are the same ones who oversaw the industry’s near collapse.

A Russian billionaire who apparently fell out with the Kremlin over his tax bill has become the latest oligarch to flee Russia and start a new life of exile in Britain.

Mobile phone oligarch flees Russia for new life in Britain (Guardian):
A Russian billionaire who apparently fell out with the Kremlin over his tax bill has become the latest oligarch to flee Russia and start a new life of exile in Britain.

Nomura posts $3.8bn fourth quarter loss (Financial Times)

Tata’s Corus to Cut 3500 Jobs in UK, Netherlands (Bloomberg):
Jan. 26 (Bloomberg) — Corus, Europe’s second-largest steelmaker, will cut 3,500 jobs as it reduces production following a collapse in demand from builders and carmakers.

Corning slashes 3500 jobs (CNN Money):
NEW YORK (CNNMoney.com) — High-tech glass and ceramics maker Corning Inc. announced Tuesday it will cut 3,500 jobs, or 13% of the company’s workforce, by the end of 2009.

IBM cutting over 2800 jobs, labor group says (MarketWatch)

South Carolina unemployment rate rises to 9.5 percent in Dec. (Forbes)

NY financier Cosmo held on Ponzi scheme charge (Reuters)

UN crime chief says drug money flowed into banks (Reuters)

UN Official Wants to Prosecute Bush, Rumsfeld for Torture (The New American)

Police report crime spikes related to economy (USA Today)

Google plans to make PCs history (Guardian):
Google is to launch a service that would enable users to access their personal computer from any internet connection, according to industry reports. But campaigners warn that it would give the online behemoth unprecedented control over individuals’ personal data.

93-year-old froze to death, owed big utility bill (AP):
BAY CITY, Mich. – A 93-year-old man froze to death inside his home just days after the municipal power company restricted his use of electricity because of unpaid bills, officials said. Marvin E. Schur died “a slow, painful death,” said Kanu Virani, Oakland County’s deputy chief medical examiner, who performed the autopsy.

Forecasters see historic drop in retail sales (MSNBC)

Pelosi says birth control will help the US economy (Telegraph)

IMF chief turns up heat on China over yuan (Times Online):
The head of the International Monetary Fund turned up the heat on China over its exchange rate policies yesterday, arguing that it was clear that the Chinese yuan was “significantly undervalued”.

Global recession costs 80,000 jobs a day (Guardian)

Israeli soldier and Palestinian killed (Guardian)

Tony Benn:Liberty is crucial to democracy (Guardian):
This is not an issue of left or right – we must all ensure that government doesn’t rule over people but serves them

Turritopsis nutricula: the world’s only ‘immortal’ creature (Times Online)

Global News (01/26/09)

After less than a week in office, Barack Obama’s approval rating plunges 15 points (Daily Mail):
Barack Obama might have been in office for less than a week, but the euphoria is beginning to wane.
The new President’s approval ratings have fallen from a stratospheric 83 per cent to a more modest – although still impressive – 68 per cent.

US may ditch twice-yearly talks China (Telegraph):
Strained relations between the US and China are likely to increase in the coming months as a number of senior officials in President Barack Obama’s administration are believed to be keen to axe bi-annual economic meetings between the two superpowers.

Obama administration warns public to expect rise in US casualties (Guardian):
The Obama administration is to double the number of US troops in Afghanistan to 60,000 and when asked in a television interview if the US public should expect more American casualties, Biden said: “I hate to say it, but yes, I think there will be. There will be an uptick.”

Geithner to Press Mortgage, Bank Relief in Growing Rescue Plan (Bloomberg):
Jan. 26 (Bloomberg) — President Barack Obama’s financial rescue plan will be unveiled soon and is likely to be larger and more ambitious than originally planned as the economy and banking system worsen.

Report: U.S. Soldiers Did ‘Dirty Work’ for Chinese Interrogators (ABC News):
U.S. military personnel at Guantanamo Bay allegedly softened up detainees at the request of Chinese intelligence officials who had come to the island facility to interrogate the men — or they allowed the Chinese to dole out the treatment themselves, according to claims in a new government report.

Obama to put Bush car pollution policies into reverse (Guardian)

Barack Obama to tighten Wall Street regulations (Telegraph)

RAF ‘ordered to shoot down UFOs’ (Telegraph)

A chill wind blows through Davos as global crisis bites (Telegraph)

Evo Morales hails ‘new Bolivia’ as constitution is approved (Guardian)

Dutch bank sheds chief executive and 7000 other jobs (Guardian):
The bank, one of Europe’s biggest, took immediate action by shedding its chief executive, Michael Tilmant, after what it said was the worst quarter for equity and credit markets for a quarter of a century. It is due to post an underlying loss of €3.3bn, including €2bn in structured products, for the final three months of 2008. ING, which employs 130,000 globally,

Barclays bullish despite £8bn credit crunch hit (Guardian)

Corporate cuts spread as 6000 face axe (Telegraph):
Corporate Britain is preparing itself for one of the bloodiest weeks of the economic downturn so far with up to 6,000 redundancies set to be announced across the manufacturing, retail and services sectors.

Companies in US to Slash More Jobs, Business Economists Say (Bloomberg)

Wall Street investment banks have a way of snookering commercial rivals (Telegraph)

Report: Toyota’s output seen down 25 percent (AP)

Toyota Denies Report Global Output May Fall 20% on Recession (Bloomberg)

Caterpillar Moves to Cut 20000 Jobs (New York Times)

Bad news: we’re back to 1931. Good news: it’s not 1933 yet (Telegraph):
Barack Obama inherits an economy already contracting at an annual rate of 6pc, much like the mid-Depression year of 1931 (-6.4pc). This may beat Germany (-7pc) Japan (-12pc) and Korea (-22pc) over the fourth quarter. But that merely underlines the dangers ahead as the collapse of global trade chokes the mini-boom in US exports, setting off another stage of the crisis.

Tens of thousands face hunger amid Liberian insect plague: official (AFP)

Deaths as thousands riot in Madagascar (Telegraph)

Global News (01/25/09)

Here comes ‘terrible’ (CNN Money):
The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years.

Report: IBM quietly lays off North American staff (CNET News)

GM, Ford, Chrysler Lost About 988 Auto Dealers During 2008 (Bloomberg)

Cities, towns expect to fire thousands (Boston Globe)

Downturn Accelerates As It Circles The Globe (Washington Post):
The world economy is deteriorating more quickly than leading economists predicted only weeks ago…

Obama’s team turn to EU bank for inspiration (Independent)

Obama Sides With Bush in Spy Case (Wired):
The Obama administration fell in line with the Bush administration Thursday when it urged a federal judge to set aside a ruling in a closely watched spy case weighing whether a U.S. president may bypass Congress and establish a program of eavesdropping on Americans without warrants. (More change!)

Pakistan Urges Obama to Halt Drones (ABC News)

Afghan President Condemns US Raid He Says Killed 16 Civilians (Voice of America)

Obama’s partisan, profane confidant reins it in (IHT):

Official: £40000 loss for every taxpayer (Guardian):
Latest City figures reveal that the plummeting stock market and plunging house prices have wiped out £1.2 trillion of Britain’s national wealth

Fed up companies plan to launch their own lender (Independent):
City law firm Taylor Wessing is believed to be working on a plan to create a bank backed by six leading UK listed corporates disenchanted with the failing lending institutions in the Square Mile.

Inquests into Troubles deaths to be kept secret (Guardian):
Under new laws, key parts of inquests into the deaths of people killed by British security forces in Northern Ireland during the Troubles will be held in secret, without the scrutiny of juries.

Bank of England goes for broke with asset buying (Telegraph)

Corus to axe 3500 jobs as crash hits steelmakers (Times Online):
BRITAIN’s largest steelmaker, Corus, is poised to cut up to 3,500 jobs this week in one of the biggest blows yet to the faltering manufacturing sector.

GKN to offer ‘token dividend’ as it slashes workforce by thousands (Telegraph):
GKN, the British car and aircraft parts maker, is expected to announce this week that it has cut several thousand jobs, with more to cuts to come, as the deepening recession inflicts further pain on the manufacturing industry.

IMF set to slash global growth forecast (Financial Times)

Third Bank Is Seized This Year (New York Times)

State lawmakers bet gambling can help with budgets (AP)

Economy in U.S. Probably Contracted Most Since 1982 as Spending Collapsed (Bloomberg)

Home Price Declines Compound US Economic Decline (VOA)

Flood of foreclosures: It’s worse than you think (CNN Money):
Banks are moving slowly to list repossessed homes for sale, which could mean that housing inventory is even more bloated than current statistics indicate.

Madoff’s UK investors set to sue (Times Online)

A shameful war: Israel in the dock over assault on Gaza (Independent)

Iran vows to pay for Gaza aid as children return to UN schools (Telegraph)

Tunnel vision sees Gazans dig for victory (Scotland on Sunday)

China Reports 6th Case of Bird Flu This Year (Voice of America)

Car dealers try to survive as economy, sales drop (AP)

Chocolate prices set for further increases (Financial Times)

12 Die in Storms in Western Europe (New York Times)

Global News (01/ 24/ 09)

The Fed: Life after zero (CNN Money):
NEW YORK (CNNMoney.com) — The Federal Reserve has a two-day meeting next week to discuss what to do with interest rates. That’s two days more than the central bank needs.

False Fears of Deflation in Dangerous Inflationary Waters
(American Institute for Economic Research)

Tim Geithner: Too Close to Goldman Sachs to Be Treasury Secretary, Critic Says (Yahoo Finance)

China Rejects Currency Manipulation Charge (New York Times)

China denounces US currency accusation (Reuters)

Obama Signals Tough Restrictions on Banks in Rescue Package (Bloomberg)

McCain Now Obama’s No. 1 Senate Ally (NewsMax):
GOP Sen. John McCain is positioning himself to be one of President Barack Obama’s strongest supporters, effectively giving Democrats the votes they need to override any GOP attempt to block the new administration’s legislative agenda.

Intelligence Agencies’ Databases Set to Be Linked (Wall Street Journal)

California jobless rate jumps to 9.3 percent (Reuters)

‘Stealth tax’ on recession victims (Independent)

Lights go out across Britain as recession hits home (Guardian)

Minister unleashes savage attack on ‘masters of the Universe’ over recesssion (Daily Mail)

City Minister Lord Myners attacks bankers for greed and arrogance (Times Online)

Venture Capital Fell 33% Last Quarter to Lowest Level Since ’05 (Bloomberg):
Jan. 24 (Bloomberg) — Venture-capital investment dropped 33 percent in the fourth quarter of 2008, hammered by a recession that drove software deals to their lowest levels in a decade and cut access to capital for alternative energy firms. Total investment in startup companies fell to $5.4 billion, the lowest total since early 2005,

Schlumberger sheds 5,000 after oil price fall (Financial Times):
Schlumberger, the world’s biggest oil services company, on Friday said it would reduce its staff by 5,000 worldwide as it reported a 17 per cent drop in fourth-quarter earnings following the collapse of oil prices.

Bank of America holders sue over Merrill purchase (BusinessWeek)

Pressure builds on BofA’s Lewis (Financial Times)

Taro Aso gives Japanese £100 each to spend way out of recession (Times Online):
The move, which he has described as “the best economic measure of all”, involves a handout of at least 12,000 yen (£100) to every citizen over the age of 18. The prospect of the windfall has unleashed a national wave of speculation about how the money might best be spent, and the eccentric world of Japanese retail is pushing hard to attract the cash. (What can you say???)

Big Inflation Coming (Gold Seek)

US allows use of embryonic stem cells (Financial Times)

FDA approves human embryonic stem cell study (CNN)

Frogs are being ‘eaten to extinction’ with one billion taken from wild each year (Daily Mail)

Global Economic Crisis Accelerating

“We can have confidence in the long term foundation of our economy. And I believe we will come through this challenge stronger than ever before.”
– George W. Bush (15 July 2008)

More than half Americans say they are ‘struggling’: poll (AFP)

Solbes Says Spain Faces Deepest Recession in 50 Years (Bloomberg)

California to delay some payments (LA Times)

GE Capital May Cut as Many as 11000 Jobs This Year (Bloomberg)

Two US banks fail, first casualties in 2009 (Reuters)

21000 Jobs Worldwide Erased in Day as Recession Chokes Demand (Bloomberg)

£200bn to save banks from bad debt (Telegraph):
The taxpayer will be forced to underwrite up to £200 billion of bad banking debt under a government plan to take control of assets belonging to Britain’s major high street lenders, The Daily Telegraph can disclose.

Honda halts production for another two months as car misery continues (Telegraph)

Latvia Is Shaken by Riots Over Its Weak Economy (New York Times)

Barclays loses billions off its share value (Times Online)

Dubai Skyscraper Delayed Amid Cutbacks, Layoffs (Wall Street Journal):
DUBAI — Construction of a one-kilometer-tall tower slated to be the world’s tallest has been delayed by its government-owned developer, in a sign of how a city that seemed to have limitless resources and ambition now is struggling to avoid a hard crash.

British Tax Haven’s Safety, Secrecy Face Brown, Obama Challenge (Bloomberg)

Ireland Is In Trouble (George Washington’s Blog)

ConocoPhillips to Eliminate About 1300 Jobs, Cut Capital Spending (Wall Street Journal)

World Demand Collapse, Bonds Next (Gold-Eagle)

The Fed’s Bubble Trouble Will Cause Rates to Spike and Spawn Hyperinflation (Money Morning)

Exclusive Interview with Jim Rogers: Inflation Is Coming (Seeking Alpha)

Peter Schiff – Credit Where Credit is Due (Motley Fool)

Jim Rogers: US creditor nations to shun Treasuries (Reuters):
“If I were the Chinese, I wouldn’t buy another single U.S. government bond,” said Rogers, who was speaking by teleconference in an interview with Reuters. “I can’t imagine anybody is going to give the U.S. government money for 30 years at 2.5 percent or even 4 percent or 4.5 percent. It’s mind boggling to me.”

Retailers who have filed for bankruptcy protection (AP)

Reviving the world’s burst-bubble economy seems further away than ever (Telegraph)

Bank crisis reignites as US giants post massive losses (Independent)

Monetary union has left half of Europe trapped in depression (Telegraph)

The Recession crimewave (Independent)

Global Economic Crisis Accelerating

Bernanke tells Obama $775bn fiscal package is not enough (Independent)

Ruble Devalued to Six-Year Low as Gas Dispute Deters Investors (Bloomberg)

UK trade deficit balloons to a record (Telegraph)

Treasury mulls bad bank for toxic debt (Telegraph)

Greece’s Sovereign Credit Rating Cut to A- by S&P (Bloomberg)

Shipping rates hit zero as trade sinks (Telegraph)

Ohio Forced To Borrow Federal Money For Unemployment (NBC4i):
COLUMBUS, Ohio—It’s a sign of the times: The state of Ohio’s unemployment fund has run out of money and how Ohio has been forced to borrow from the federal government to keep paying out benefits.

LA board OKs layoff plan for nearly 2,300 teachers (AP)

Thousands of UK jobs go in bleak day for economy (Telegraph):
In a dark day for the UK economy, more than 3,500 jobs were cut or placed in immediate jeopardy yesterday, overshadowing attempts by the Government to reduce unemployment.

U.S. Economy: Retail Sales Decline for a Record Sixth Month (Bloomberg)

China’s authorities are running scared (Telegraph)

Financial Crisis Hits Home-Loan Banks (Wall Street Journal)

Toyota, Facing Crisis, Turns to Founding Family Scion (Bloomberg)

Nortel Files for Bankruptcy, Victim of Falling Sales (Bloomberg):
Jan. 14 (Bloomberg) — Nortel Networks Corp., North America’s biggest maker of telephone equipment, filed for bankruptcy protection in the U.S., a victim of the global credit crunch and declining sales.

Ukraine blocks gas after Russia turns taps on (Telegraph)

Results: California companies planning layoffs !!! (San Jose Mercury News):
California’s WARN law requires certain companies with more than 75 employees to provide 60 days advance notice of a plant closing or mass layoff involving 50 or more employees.

Northern Rock investors tell court they were cheated (Guardian):
Former shareholders in Northern Rock yesterday accused the government of cheating them of compensation when the bank was nationalised last year.
In the high court, lawyers representing the two largest shareholders argued that the government had unfairly rigged an independent valuation of the bank to ensure investors would end up with next to nothing.

Saudis cut oil output beyond Opec limit (Financial Times)

UK economy downturn ‘frightening’ (BBC NEWS)

Study: Grape Seed Extract Kills 76% Of Leukemia Cancer Cells In 24 Hours

Grapeseed Extract Kills 76% Of Leukemia Cancer Cells In 24 Hours (Natural News, Jan. 06, 2009):

A new study conducted at the University of Kentucky in the United States, and published in the journal Clinical Cancer Research, found that leukemia cancer cells exposed to grapeseed extract (GSE) were rapidly killed through a process of cell suicide known as “apoptosis.”

In these laboratory studies, an astonishing 76% of leukemia cells committed suicide within 24 hours thanks to the ability of GSE to activate a protein called JNK, which regulates apoptosis.

Read moreStudy: Grape Seed Extract Kills 76% Of Leukemia Cancer Cells In 24 Hours

The Incredible Benefits of Coconut Oil: Weight Loss – Kills Candida, Harmful Bacteria and Viruses (Incl. HIV) – Boosts Immunity – Healthy Skin

(NaturalNews) Research indicates, animal fats have long chain saturated fat, while coconut oil contains healthy, healing, medium chain triglycerides (MCTs). This saturated fat is considered a rare and important building block of every cell in the human body, and can actually reduce cholesterol and heart disease.

This incredible food boosts immunity, kills bacteria and viruses, protects against cancer and other degenerative diseases, and prevents osteoporosis by promoting calcium absorption. It also slows down ageing and is good for skin radiance.

Weight Loss from Coconut Oil/Butter

American farmers attempted to plump up their cattle by feeding them coconut oil. Instead of gaining weight, their cows lost weight!

This is because:

1. The long-chain fats nearly always go to fat storage, while the MCFAs (medium chain fatty acids) are burned for energy… which is why you feel great after eating this coconut super food.

2. Coconut oil helps to stimulate the metabolism, so you burn more calories each day, which helps with weight loss and energy levels.

Coconut Oil/Butter is Packed with Lauric Acid

Coconut oil, like human breast milk, is rich in lauric acid, which boosts immunity and destroys harmful bacteria and viruses. In fact, coconut oil is one of the closest foods on the planet to breast milk.

Scientists in the Philippines researched the effects of coconut oil and lauric acid on patients with the HIV virus that causes Aids. The results were amazing. Most of the Aids patients showed a dramatic drop in the HIV virus count, in some cases to “undetectable” levels. While there needs to be a lot more research, there is certainly evidence to suggest that people with this virus would benefit from having a diet rich in coconut.

Read moreThe Incredible Benefits of Coconut Oil: Weight Loss – Kills Candida, Harmful Bacteria and Viruses (Incl. HIV) – Boosts Immunity – Healthy Skin