Tory backlash as UK is 'bailing out Greece by back door'

UK - Britain will be forced to pour extra billions into propping up the Greek economy 'by the back door' through a massively increased contribution to the International Monetary Fund, senior Tories warned yesterday.

Interest rate rise 'will start a mortgage crisis'

UK - Britain's households need "tough love" to help them prepare for interest rate rises, the man in charge of nationalised mortgage books at Northern Rock and Bradford & Bingley has warned. Richard Banks, chief executive of UK Asset Resolution (UKAR), the state company that runs the 80 billion pounds of mortgages bailed out by the taxpayer during the banking crisis, added that the country will be flooded with repossessions as soon as rates start to rise.

TJ Hughes set to join list of failed retailers

UK - Britain's troubled high street lost another retailer yesterday and will see one more follow today as the industry's woes spread as far as Marks & Spencer, which is to launch its summer sale two weeks early.

Saab thown lifeline by Chinese order for 600 cars

SWEDEN - A Chinese company has provided a lifeline for Saab Automobile with a cut-price order for almost 600 cars and enough cash to pay the wages of its 3,800 workers this month and make some payment to suppliers.

New Book Reveals Secret Meaning of Neo-Nazi Codes

GERMANY - Openly Nazi symbols such as the swastika are banned in Germany, so neo-Nazis get around the law by using coded combinations of letter and numbers such as 14 and 88. A new book explains the meaning of such codes, and reveals that far-right style is becoming increasingly diverse and hard to spot.

Billionaire George Soros Trying To Stack the Courts

USA - Billionaire George Soros spends tens of millions each year supporting a range of liberal social and political causes, from drug legalization to immigration reform to gay marriage to abolishing the death penalty. But a less well-known Soros priority - replacing elections for judges with selection-by-committee - now has critics accusing him of trying to stack the courts.

Dollar seen losing global reserve status

USA - The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8,000 billion. More than half the managers, who were polled by UBS, predicted that the dollar would be replaced by a portfolio of currencies within the next 25 years.

Wildfire reaches US Los Alamos nuclear facility

SANTA FE, NEW MEXICO, USA - A raging wildfire on Monday briefly entered the property of the preeminent US nuclear facility, Los Alamos National Laboratory, a vast complex that houses research laboratories and a plutonium facility.

Russia, China sign deal to switch to trade in rubles, yuan

RUSSIA/CHINA - Russia and China will switch to trade in rubles and yuan to boost bilateral trade and economic cooperation, following an agreement signed between the central banks of both countries, Russian Central Bank Deputy Chairman Viktor Melnikov said on Thursday.

European leaders prepare for a Greek default

EUROPE - European leaders have admitted they are preparing for a Greek default as the eurozone debt crisis enters a pivotal week. Greek politicians will vote on a radical 28.4 billion euros (25.2 billion pounds) austerity package in the coming days that they must pass if the country is to receive the vital fifth tranche of a 110 billion euros bail-out agreed last year.

Threat of $100 billion hit if US top rating lost

USA - Investors in the US government bond market could face losses of up to $100 billion if the largest economy loses its triple A rating, according to a research arm of McGraw-Hill, the parent of Standard & Poor's. A ratings downgrade that results in higher bond yields and lower prices could also mean the US Treasury paying $2.3 billion-$3.75 billion a year more in interest on financing a $1,000 billion annual budget deficit.

Italy government tensions rise over austerity plans

ITALY - Tensions increased in Italy's government on Sunday over an austerity plan to be approved next week, with one senior coalition member accusing Economy Minister Giulio Tremonti of trying to cause the government's collapse.

Euro Exit Plan is 'Probably Inevitable': Soros

VIENNA, AUSTRIA - Billionaire investor George Soros said it's "probably inevitable" that a mechanism will be put in place to allow weaker economies to exit the euro. "There's no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable," Soros, 80, said at a panel discussion in Vienna yesterday on whether liberal democracy is at risk in Europe.

Enter the dragon 'to save the euro'

UK - It is in the interest of cash-rich China to help resolve the eurozone debt crisis, but Chinese premier Wen Jiabao, who is visiting Britain and Continental Europe, will want a share of the West's buying power in return.

UPDATE - Floodwaters surround nuke plant after breach

USA - A tear on Sunday in a temporary berm allowed Missouri River flood waters to surround containment buildings and other vital areas of a Nebraska nuclear plant, but reactor systems were not affected. The Nuclear Regulatory Commission (NRC) said the breach in the 2,000-foot inflatable berm around the Fort Calhoun station occurred around 1:25 am local time.

“Just what is an APOSTLE?”
Just what is an Apostle?

Today we find the Church of God in a “wilderness of religious confusion!”

The confusion is not merely around the Church – within the religions of the world outside – but WITHIN the very heart of The True Church itself!

Read online or contact email to request a copy

Listen to Me, You who know righteousness, You people in whose heart is My Law: …I have put My words in your mouth, I have covered you with the shadow of My hand, That I may plant the heavens, Lay the foundations of the earth, and say to Zion, “you are My people” (Isaiah 51:7,16)