January 8, 2012
Eurozone unemployment stays at record high
Unemployment in the eurozone stayed at a record high in November as the impact of the sovereign debt crisis rumbled on, according to official figures. The jobless rate in the 17 nations that use the euro was 10.3% in November for the second month…
January 8, 2012
IMF chief qualifies negative global outlook
The International Monetary Fund chief has said that it will downgrade predictions for global economic growth to lower than 4.0% later this month, due to the effects of a widening Eurozone crisis. At a news conference in Pretoria, South Africa,…
January 8, 2012
Yahoo CEO scores $26 million pay package
Yahoo's new CEO is poised to score a rich payday for taking on the troubled company. He's eligible for up to $26 million this year in salary, stock and bonuses. Scott Thompson, formerly the president of PayPal, was appointed Yahoo CEO on Wednesday…
January 8, 2012
Obama strengthens military in Asia-Pacific
US President Barack Obama has unveiled a defence strategy to expand the country’s military presence in the Asia-Pacific region amid defence cuts. It’s a time of transition for the world’s largest military power. To cope with budget cuts and…
January 8, 2012
Russian warships heading for Syria
The Russian Navy's warships patrolling the eastern Mediterranean Sea were heading for a Syrian port, the state-owned Itar-Tass news agency reported on Friday. The warships were scheduled to arrive in Tartus, a point of logistics supplies of the…
January 8, 2012
Pro-Democracy Demonstrators Rally in Bahrain
Hundreds of pro-democracy demonstrators in Bahrain gathered Saturday in the capital, Manama, for a protest led by the Shi'ite-led opposition, defying a government ban. The demonstration was organized by opposition groups led by Al Wefaq, a leader…
January 8, 2012
IRS comes up $385 billion short
Close to 15% of federal taxes -- or $385 billion -- went unpaid in 2006, according to new estimates by the IRS. That's the net tax gap number -- meaning what didn't get paid even after the $65 billion the IRS managed to collect through audits. And…
January 8, 2012
Activists: At Least 21 Dead in Syria Violence
Syrian activists say at least 21 people have been killed in clashes throughout Syria Saturday. The British-based Syrian Observatory for Human Rights said the majority of the deaths occurred in the flashpoint central city of Homs and in the restive…
January 8, 2012
Kenya: Airstrikes Kill 60 Militants in Somalia
Kenya said Saturday that airstrikes have killed at least 60 al-Qaida-linked militants in southern Somalia, as part of an ongoing effort to force them out of the country. A military spokesman told reporters that al-Shabab militants were killed in…
January 6, 2012
US Republican Presidential Hopefuls Focus on New Hampshire
As the U.S. Republican Party presidential nomination race moves to New Hampshire, the two frontrunners are turning their verbal fire toward President Barack Obama. At campaign events Thursday, former Massachusetts governor Mitt Romney and former…