WORLD

UBS $2 billion rogue trade suspect held in London

Kweku Adoboli: Is UBS Doomed?

Continued losses in the investment bank arena could lead to more restructuring and another round of job cuts to be unveiled in November.

Republicans Debating Ceiling on U.S. Defense Cuts

The idea is out there: Republicans on Capitol Hill considering a ceiling for defense cuts mandated by the deficit-reduction super committee. If it becomes a reality, however, it would not exceed $150 billion over 10 years.
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Treasury Secretary Geithner delivers opening remarks at the Treasury Department's Counter-Terrorist Financing Symposium

Geithner Presses Euro Zone to Leverage Bailout Fund

Treasury Secretary Timothy Geithner pressed euro zone ministers on Friday to leverage their 440 billion euro bailout fund and free up more resources to tackle a two-year-old debt crisis, a senior euro zone official said.
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Belgian Parties Announce End to 15-Month Deadlock

A breakthrough was reached yesterday between Dutch-speaking and Francophone parties in the world’s longest negotiations to form a new governing coalition that lasted for a record 15 months after elections were held.
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Pakistan Doesn't Back U.S. Claim of al-Qaida Kill

Pakistan had no confirmation Friday that al-Qaida's chief of operations in the country had been killed in a recent drone strike in the northwestern tribal region, as reported by American officials.
Sarah Palin

Book Claims Sarah Palin Smoked Pot in College

Sarah Palin, the former Alaska Governor, has been hit by shocking allegations that before she got married she had sex with Miami Heat star Glen Rice and she took cocaine years ago while snowboarding with her husband, Todd, and friends.
A motorist pumps fuel into his vehicle at JJ's Express Gas Plus station in Phoenix gas station in Phoenix

Petrol Prices Raised by 3.14 Rupees

State-run oil firms will raise petrol prices by nearly 5 percent from Friday, a move that eases their subsidy burden but adds near-term pressure to stubbornly high inflation in Asia's third-largest economy.
U.S. Post Office

USPS May Close 252 More Facilities, Cutting 35,000 Jobs

The U.S. Postal Service has named 252 more mail processing facilities that may close because of budget cuts, less than two months after it released an initial list of nearly 3,700 at-risk post offices. Megan Brennan, the agency's chief operating officer, told ABC News that the closures would eliminate 35,000 jobs.
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Ivory Coast rebounding faster than expected: IMF

The International Monetary Fund raised its forecast for growth in Ivory Coast on Thursday, citing a faster-than-expected rebound in industrial and agricultural production since the end of a post-election conflict.
South Africa's President Jacob Zuma gives a statement after meeting with Libyan leader Muammar Gaddafi at Gaddafi's Bab al-Aziziya residence in Tripoli April 10, 2011.

S.Africa's Zuma asks for new probe of arms deal

South African President Jacob Zuma will appoint a commission to investigate a multi-billion dollar arms deal, his office said on Thursday, in a new probe into corruption allegations against several companies and top officials including Zuma himself.
France

Sarkozy, Cameron hailed in Libya, offer help

Nicolas Sarkozy and David Cameron landed in Libya to a heroes' welcome on Wednesday, promising help for the new rulers that French and British air power helped to install and being told the favour may be repaid in business contracts.
US Post Office In Blacksburg, Virginia

U.S. Postal Service Considers Closing Facilities, Slowing First Class Mail

The U.S. Postal Service may never be the same, with First Class delivery service expected to slow down amid proposed cuts. Saturday delivery could end.. The latest plan from the post office, gripped with slowing business and costs and nearing default, would likely alter the delivery time of First Class mail. By closing more than half of the agency's 487 mail-processing facilities in a plan announced Thursday.
A teller counts euro banknotes inside a National Bank of Greece branch in Athens

Global Central Banks Flood Market With Dollars: What's the Impact on U.S. Stocks?

The world's major central banks, led by the European Central Bank and the U.S. Federal Reserve, in a coordinated effort Thursday intervened to provide dollar loans to commercial banks in an effort to maintain liquidity in Europe and check institutional investor concern about Europe's private sector banks. What will be the impact on U.S. stocks?
China probes Johnson Controls unit for alleged lead

China probes Johnson Controls unit for alleged lead

A China unit of major lead-acid battery maker Johnson Controls has halted production at its Shanghai factory as authorities investigate into an alleged lead pollution case, the official Shanghai Securities News said on Thursday.

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