France loses AAA-rating

SStandard & Poor’s has decided to downgrade France’s top-notch credit rating but will spare Germany, Belgium, Luxembourg and the Netherlands, an EU government source told AFP on Friday. “France loses its triple-A rating,” the source said on condition of anonymity.   Standard and Poor’s Corp earlier on Friday declined to comment on rumours on the markets that it was about to downgrade several eurozone... [more]

Norway court orders new psychiatric test of gunman

An Oslo court on Friday ordered a new psychiatric evaluation of Anders Behring Breivik, who killed 77 people in twin attacks in July, after an earlier and widely contested test found him criminally insane. “Due to the gravity of this case, the criminal responsibility (of Behring Breivik) must be examined again,” Oslo District Court judge Wenche Elizabeth Arntzen told a news conference. Two new experts, Agnar Aspaas and Terje... [more]

Van der Sloot sentenced to 28 years prison

Joran van der Sloot has been given a 28 year sentence in prison in Lima for the aggrevated murder of 21 year-old Stephany Flores in May 2010. This means with a sentence reduction for the amount of time he has spent on remand, he will released in 2038. After which he will be deported from Peru. Earlier this week the Dutchman pleaded guilty to all charges hoping to be given a reduced sentence. The Public Prosecution had demanded 30 years in... [more]

Asia stocks up after successful Europe bond issue

Asian stock markets rose Friday, driven higher by a successful bond issue inEurope that eased worries over the continent’s sovereign debt crisis. Benchmark oil rose to nearly $100 per barrel and the dollar fell against the euro but was steady against the yen. Japan’s Nikkei 225 index gained 1.1 percent to 8,479.24 and South Korea’s Kospi index edged up 0.2 percent at 1,867.17. Australia’s S&P ASX 200 was 0.4... [more]

Iran embargo gathers support in Asia, Europe

U.S. allies in Asia and Europe voiced support for Washington’s drive to cut Iran’s oil exports, although fear of self-inflicted pain is curbing enthusiasm for an embargo thatTehran says will not halt its nuclear program. The speaker of Iran’s parliament, Ali Larijani, said on Thursday that the nuclear program was also too strong to be derailed by assassinations of nuclear scientists, a day after the fourth such killing. As... [more]

UK faces stagnation after cut-price Christmas

The economy risks contraction in the first half of 2012 and better-than-expected retail sales over Christmas are unlikely to offer much respite, as shoppers were only lured by margin-eroding discounts, business leaders warned on Tuesday. A survey from the British Chambers of Commerce showed Britain’s economy was “very likely” to contract in the first half of 2012 after stagnating in last year’s final quarter... [more]

Groningen (Holland) still threatened by flooding

The heavy rainfall that accompanied the storms of the past few days have led to critically high water levels in the northern-most provinces of Groningen and Friesland. On Thursday, a dike near the Groningen town of Tolbert was in danger of collapse, but the situation there has since stabilised. On Friday, the condition of a dike along the Eems Canal became critical. About 800 inhabitants of several villages along the canal have been evacuated. State... [more]

Euro unlikely to ‘vanish’ this year: IMF chief

The euro is unlikely to “vanish” this year, IMF chief Christine Lagarde said Friday, but warned a report this month will show the global economy growing slower than the 4.0 percent estimated in September. “Will 2012 be the end of the euro? My answer is, I don’t think so,” she told a press conference during a visit to South Africa. “The currency itself is not likely to vanish or disappear in 2012.” “Will... [more]

Cameron says UK wants full say on EU single market

Britain will not accept the European single market being discussed by any group other than the full 27 members of the European Union, Prime Minister David Cameron said on Friday. “Why are we in the organisation (European Union)? We’re there because we’re a trading nation, and we want access to the single market and a full say about the rules of the single market,” Cameron told BBC Radio 4. “What we can’t... [more]

IKEA recalls 169,000 baby high chairs in US, Canada

Swedish furniture giant IKEA has recalled 169,000 baby high chairs sold in the United States and Canada over reports that the safety belts can open unexpectedly. The US Consumer Product Safety Commission and Health Canada announced the recall on Thursday and IKEA posted a warning on its website over the ANTILOP high chair, sold from August 2006 through January 2010 for around $20. The safety regulators said IKEA had received eight complaints... [more]

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