Differences poke through at Cameron, Merkel talks

New British leader David Cameron and German Chancellor Angela Merkel sought to play down sharp differences on how to shore up European financial stability Friday, in their first official talks. The Conservative premier said he backed a “strong and stable” eurozone, although Britain is not a member, but stressed his centre-right government had agreed it would never cede any new powers to the European Union. “There is no... [more]

Dutch MPs vote to withdraw from JSF project

A majority of 79 Dutch MPs have voted in favour of opting out of the Joint Strike Fighter jet project. A motion proposed by the Labour Party (PvdA) was supported by the Socialist Party, Green Left, the democrat party D66, the rightwing Freedom Party and the Party for the Animals. Yesterday, the Labour Party announced that it was dropping its support for the JSF project and would vote against Dutch involvement in the test phase. Last year,... [more]

Dutch MPs call for ‘naked short selling’ ban

A majority of MPs has called on the government to follow Germany and introduce a ban on the form of speculative share trading known as ‘naked short selling’. Naked short selling is the practice of selling shares without owning them, borrowing them, or ensuring that they can be borrowed in the future. Earlier this week, the Dutch financial services regulator AFM said it did not support a ban. Nor does acting finance minister... [more]

German parliament passes billion-euro rescue fund

Germany’s governing coalition on Friday managed to push a billion-euro rescue package for the eurozone through parliament after warning the future of Europe’s single currency was at stake. Chancellor Angela Merkel’s centre-right coalition of Christian and Free Democrats backed controversial legislation approving Germany’s share of a €750-billion ($914-billion) emergency fund for troubled nations using the euro. Finance Minister... [more]

`Immediate’ US aid in drug war slow to help Mexico

The United States has spent a fraction of the $1.1 billion it promised Mexico between 2008 and 2010 to make “an immediate and important impact” on surging drug cartel violence, according to documents obtained by The Associated Press. While President Barack Obama and Congress pledged strong, continued support to Mexican President Felipe Calderon in Washington this week, State Department spreadsheets provide the first definitive... [more]

Clinton in Asia as NKorea crisis looms

U.S. Secretary of State Hillary Rodham Clinton kicked off a three-nation tour of Asia on Friday that was supposed to focus on U.S.-China economic issues but is being overshadowed by a crisis over North Korea’s sinking of a South Korean warship. Clinton landed in Japan for the first leg of the tour that will also take her to China and South Korea. At all three stops, her agenda will be dominated by heightened tensions stemming from... [more]

SKorea calls for cautious response to ship sinking

South Korea’s president said Friday his country was caught in a “perfect military ambush” when a NorthKorean torpedo sank a naval warship, but called for a cautious response to the disaster that left 46 sailors dead. President Lee Myung-bak made the comments at an emergency national security meeting convened one day after an official report concluded that North Korea was responsible for the deadly sinking of the South... [more]

Germans minister moots shorter work week for parents

Family Minister Kristina Schröder on Friday called for German companies to create more flexible work time models to allow parents better options for juggling career and family. “A 30-hour work week could be almost ideal for both partners,” the conservative Christian Democrat told news magazine Focus. “Forty hours of working time are too much for most parents of small children, but at 20 hours they cast themselves out of their careers.” In... [more]

Journalist strike in Norway avoided

A nationwide strike by Norwegian journalists has been avoided, after an agreement was reached between the Journalist Union and the media industry in the early hours of Friday morning. Agreement was reached after the National Arbitrator put forward a new wage proposal, which was accepted by the two sides. It means that journalists will on average get an annual increment of nearly NOK 10,000, or 3 per cent. Share this: ... [more]

Chinese court backs sentence for police chief

A court in southern China upheld the death penalty Friday of a former police chief convicted of taking bribes from local gang leaders. The Chongqing Municipal Higher People’s Court rejected the appeal from Wen Qiang, 55, who was convicted of taking bribes worth millions from gang members while he was director of the Chongqing Municipal Judicial Bureau, a report on the court’s website said. Wen’s case has been the biggest... [more]

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