Economics,Politics
Pope quits, shocks world
26.02.2013 12:45
Inquirer: VATICAN CITY— Pope Benedict XVI on Monday announced he would resign, citing old age, in a stunning announcement that marked a first in the modern history of the Catholic Church.
The German-born pope said he would step down on February 28, which will make him the first pontiff in 600...
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Lawmakers slam Ongpin for historical revisionism
26.02.2013 12:43
Inquirer: Lawmakers on Monday slammed former Trade Minister Roberto V. Ongpin for his purported attempt to rewrite Philippine history and paint the dictator Ferdinand Marcos, his family and his cronies in a better light.
“Good Lord! More revisionism?” said Sen. Serge Osmeña, who instigated a...
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Conclave brings out cardinals’ dirty laundry
26.02.2013 12:40
Inquirer: VATICAN CITY — Popular pressure is mounting in the U.S. and Italy to keep California Cardinal Roger Mahony away from the conclave to elect the next pope because of his role shielding sexually abusive priests, a movement targeting one of the most prominent of a handful of compromised...
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Goldman to begin fresh round of job cuts
26.02.2013 12:38
(Reuters) - Goldman Sachs Group Inc will begin its annual job cutting process as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.
The bank usually culls out the weakest 5 percent of its...
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Italy faces post-vote stalemate, spooking investors
26.02.2013 12:37
(Reuters) - The Italian stock market fell and state borrowing costs rose on Tuesday as investors took fright at political deadlock after a stunning election that saw a comedian's protest party lead the poll and no group secure a clear majority in parliament.
"The winner is: Ingovernability"...
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Banks Could Face Massive Fines over LIBOR Scandal
26.02.2013 12:34
DerSpiegel: The European Commission plans to turn up the heat on banks allegedly involved in rigging the benchmark LIBOR lending rate. Not only has the body widened the scope of the investigations to include the Swiss franc, it has also threatened heavy fines on uncooperative banks.
lobal...
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Cyprus Bailout Could Hit Russian Bank Accounts
26.02.2013 12:33
DerSpiegel: Foreign investors and wealthy Cypriots may be called to participate in the bailout of debt-plagued Cyprus. Two reports suggest that EU countries sponsoring the bailout are considering a debt relief option that would also hit rich Russian bank account holders.
In the negotiations...
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Elections in Cyprus: Berlin Pressures New President on Reforms
26.02.2013 12:31
DerSpiegel: Cypriot voters clearly expressed their preference for a euro-zone bailout of their financially struggling nation on Sunday, electing the conservative Nicos Anastasiades to be the country's next president. But Berlin remains skeptical and immediately pressured the incoming president...
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John Kerry Visits Berlin: Europe's Last Fan in Washington
26.02.2013 12:29
DerSpiegel: The new US secretary of state is visiting Berlin on Monday. He's promising grand things -- and he has a soft spot for Europe. But John Kerry has little room for maneuver. The Old World is of little interest to people in Washington, particularly President Obama.
John Kerry has been...
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European Obstruction: NATO Reforms Moving at 'Snail's Pace'
26.02.2013 12:28
DerSpiegel: NATO members committed themselves last year to reforming the alliance, with pledges from Europe to boost its military capabilities to ease the burden on the US. But a confidential analysis by the German government finds that virtually no progress has been made -- and that it's...
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