All Blogs
US town sues Wall St. banks for housing misery; Fed, gets away
CLEVELAND, Ohio, Jan 27, 2008 (AFP) – Hit by America’s mortgage crisis, the midwestern city of Cleveland has launched a legal battle against major Wall Street banks it blames for the devastation of its housing market. Cleveland Mayor Frank Jackson has accused a group of 21 big banks and financial firms of triggering local housing […]
‘s mobile network: a big brother surveillance tool?
DAVOS, Switzerland, Jan 27, 2008 (AFP) – Serious concerns were raised in Davos last week about the ability of the Chinese government to spy on the country’s 500 million mobile phone users.The head of China’s biggest mobile phone company, which has more than 300 million subscribers, stunned delegates by revealing that the company had unlimited […]
Obama sweeps Clinton in South Carolina with black vote
COLUMBIA, South Carolina, Jan 26, 2008 (AFP) – Senator Barack Obama routed Hillary Clinton in South Carolina’s Democratic presidential primary on Saturday, riding massive African-American support to a critical win in his bid to become the first black US president. With 98 percent of precincts reporting, Obama led the former first lady 55 to 27 […]
Societe Generale chairman fighting for future after rogue trade scandal
PARIS, Jan 27, 2008 (AFP) – A week from hell when he had to admit that 7.1 billion dollars had gone missing and another 3.5 billion was lost on the US subprime market, has tested even the mettle of crisis veteran Societe Generale chief Daniel Bouton. Societe Generale’s market value has lost more than 40 […]
Sri Lankan bodies in mass graves hard to identify: hospital
Jan 26, 2008 (AFP) – The bullet-riddled bodies of 16 men found dumped in shallow graves in a government-controlled area in Sri Lanka were hard to identify because they were badly decomposed, a hospital official said. A separate government probe found 430 civilians had been killed during a five-month period up to February 2007, though […]
Davos looks ahead to a year of trading dangerously
DAVOS, Switzerland, Jan 26, 2008 (AFP) – World business leaders and political powerbrokers wrapped up their annual gathering in Davos on Saturday by revisiting the issue of global economic uncertainty that clouded this year’s event. “I would like to turn our moral compact into legally binding contracts. Then my advice to the developing world? Get […]
Banks may need another US$143 bln to deal with downgrades: study
PARIS, Jan 25, 2008 (AFP) – Major world banks might need to raise a further 143 billion dollars in capital to confront the impact of ratings downgrades to bond insurers, a study by Barclays Capital warned Friday.A downgrade to the bond insurer would therefore force banks, which have already revalued billions of dollars in assets […]
Sri Lanka defence chief calls for ban on Tamil Tigers: report
Jan 26, 2008 (AFP) – Sri Lanka’s defence secretary has called for a ban on the Tamil Tigers and said the ongoing military campaign was aimed at destroying the rebels’ top leaders, a report said Saturday.Rajapakse, who is President Mahinda Rajapakse’s younger brother, said the military had started a campaign to capture rebel-held areas in […]
Sri Lanka journalist knifed, media rights bodies appalled
Jan 26, 2008 (LBO) – Media rights bodies have expressed outrage after a journalist attached to a state-run television channel was ambushed on his way home and knifed by two attackers. Lal Mawalage of the Rupavahini television channel had spoken live on behalf of employees when labour minister Mervyn de Silva stormed the newsroom with […]
Sri Lankan ex-warlord jailed in Britain
LONDON, Jan 25, 2008 (AFP) – A former Sri Lankan Tamil guerrilla leader was jailed for nine months in Britain Friday after being found guilty of having false documents, the Home Office said.Vinayagamoorthi Muralitharan, also known as Colonel Karuna, was sentenced at Isleworth Crown Court in London after admitting the charge at a lower court […]