ARGENTINA - Wild bees and other insects twice as effective as honeybees in producing seeds and fruit on crops. The decline of wild bees and other pollinators may be an even more alarming threat to crop yields than the loss of honeybees, a worldwide study suggests, revealing the irreplaceable contribution of wild insects to global food production.
UNITED NATIONS - The Simon Wiesenthal Center decried UN Secretary General Ban Ki Moon’s silence at a UN conclave in Vienna as Turkey's Prime Minister Erdogan charged that Zionism is "a crime against humanity," lumping it together with racism, anti-Semitism and Islamophobia.
ISRAEL - IDF Chief of Staff Benny Gantz spoke to commanders as they completed two days of training in response to violent riots. “The reality we live in is dynamic and ever-changing,” Gantz said. “We need to predict events in various arenas and put things in the right proportion. On any given day, events take place on some scale that have the potential to develop… We must not compromise on our readiness or on troops’ preparedness at every moment,” he declared. A total of 1,200 commanders took part in the training. They practiced responding to a wide-scale escalation of violence in Judea and Samaria, with an emphasis on riot training.
USA/ARGENTINA - Some countries default on their performing debt because they no longer have the ability to pay it. Other countries default on their performing debt because they no longer have the willingness to pay it.
ARGENTINA - Argentina has signalled to a US court that it will resist demands by a group of investors to repay them in full 11 years after its huge debt default. A New York appeals court was hearing arguments after a previous ruling that Argentina should pay $1.3 billion (£857 million). Argentina refuses to pay anything to investors who declined to participate in a previous debt reduction deal involving most of the nation's lenders. Argentina was not minded to obey the previous court order, lawyers said. Argentina defaulted on some $100 billion of debts in 2002, and has since restructured its debt twice, cancelling around 75% of the nominal value of the bonds.
ROME, ITALY - Two distinguished Italian theologians have called on Benedict XVI to withdraw his resignation, one arguing he ought not to resign, the other claiming a pope cannot resign. In the latter case, when the cardinals proceed to elect a successor they are, according to Enrico Maria Radaelli, electing an antipope, an impostor on the chair of St Peter.
AUSTRALIA - Cardinal George Pell, Australia's most senior Catholic, has criticised the Pope on his last day, describing his historic resignation as destabilising, while questioning his political prowess.
UK - The Bank of England was last night accused of ‘crushing’ savers as the row over negative interest rates intensified. Charlie Bean, deputy governor at the central bank, admitted ‘there is nothing to stop us’ reducing rates to below zero to kick-start the economy – although he insisted there was no plan to do it ‘immediately’. His views emerged just a day after fellow deputy governor Paul Tucker said sub-zero rates should be considered to boost lending to businesses and households. But the proposal was greeted with disbelief by savers.
USA - It is no secret that the Department of Homeland Security was originally setup as a force to be used domestically against the American people. In the early 2000s, propaganda was used to sell the formation of this organization as a more effective way to protect the American people from Al-Qaeda.
USA - Gold’s 1.3% gain yesterday was its biggest one-day gain in three months, as Federal Reserve Chairman Ben Bernanke's defense of US debt monetisation confirmed bullion's inflation hedging appeal. Jim Grant, astute monetary economist and respected author of the Interest Rate Observer said in a Bloomberg interview overnight that the dollar would crash and a new Gold Standard would be the end result of the US Federal Reserve’s irresponsibilities. Grant says that he expects more quantitative easing from the US Fed, and likens their single mindedness to a doctor prescribing to a patient that is clearly overmedicated.
UK - The ILF was set up in 1988 as a stand-alone fund to which people with severe disabilities could apply for money for added carer hours. That extra money meant that people could afford to pay carers for the help that they needed – round-the-clock, in some cases – to live independent lives.
GERMANY - In the past year, Germany has more than doubled its arms exports to the Arab Gulf monarchies. Algeria, too, received more defense materiel than in 2011. This emerges from a response by the ministry of economics to a parliamentary question of the Left Party, the Süddeutsche Zeitung reported last week. In 2012, arms exports valued at €1.42 billion were approved for the countries of the Gulf Cooperation Council. In the previous year, these exports were just €570 million. At €1.24 billion, the largest share went to Saudi Arabia, nine times as much as the year before. Export permits for Bahrain and Qatar rose to €4.3 and €17.6 million, respectively.
BERLIN, GERMANY - The president of Italy canceled a dinner meeting Wednesday with Peer Steinbrück, Chancellor Angela Merkel’s challenger in the coming September elections, after Mr Steinbrück referred to two prominent Italian political figures as “clowns.”
USA - Journalist Bob Woodward on Wednesday criticized Barack Obama's handling of the automatic US budget cuts set to take effect this week, calling the president's decision to hold back on military deployments "madness."
USA - Positions hardened on Wednesday between President Barack Obama and Republican congressional leaders over the budget crisis even as they arranged to hold last-ditch talks to prevent harsh automatic spending cuts beginning this week.