USA - A producer behind some of Hollywood's most violent films has called for a summit to discuss the impact of movies on real life in the wake of the Dark Knight Rises massacre. Harvey Weinstein says the industry needs to address how on-screen gore might be influencing viewers to commit similar atrocities. His comments come after 12 people were killed and 58 others injured when crazed gunman James Holmes opened fire during a midnight screening of the new Batman movie.
SPAIN - Spain has admitted for the first time it might need a full EU/IMF bailout worth €300 billion after its borrowing costs soared to a record 7.6 percent. The money would come on top of the €100 billion Spain has already received to prop up its banking sector. The issue was brought up by Economy Minister Luis de Guindos during a meeting with his German counterpart Wolfgang Schaeuble in Berlin last Tuesday.
LONDON, UK - The opening ceremony of the London Olympics is just hours away after seven years of preparations. The three-hour spectacle in the Olympic Stadium will be viewed by a global TV audience of around a billion people.
DUBAI - Dubai's chief of police has warned of an "international plot" to overthrow the governments of Gulf Arab countries, saying the region needs to be prepared to counter any threat from Islamist dissidents as well as Syria and Iran.
UK - Barclays Plc faces a new regulatory probe and more US lawsuits, events that could make it harder for the British lender to repair the damage to its reputation caused by its role in the interest-rate rigging scandal rocking banks.
SPAIN - Europe has already bailed out Spanish banks, now Spain's regions are clamouring for money from central government - and one of the reasons for this is their lavish spending on white elephant building projects, such as the airport at Ciudad Real, south of Madrid.
ROME , ITALY - A restitution bill, which calls for the return of Church property seized during the 40 years of communist reign, passed the Czech Republic's lower house parliament earlier this month, but must yet pass the parliament's upper house for the bill to be enacted.
ISRAEL - Arab viewers of ‘educational' clip with image of Mursi claim it promotes replacing mosque with rebuilt Temple. A video that a Jerusalem religious educational organization released on YouTube ahead of the Tisha Be'av fast has received significant attention from the Egyptian press and public in the five days since it was posted.
USA - James Holmes, the 24-year old suspect in the mass shooting of Batman "The Dark Knight Rises" movie goers in Aurora, Colorado that left 12 people dead and 58 injured, has had a number of links to US government-funded research centers.
EUROPE - A roundup of events in Europe this week:
USA - The biggest conventional bomb ever developed is ready to wreak destruction upon the enemies of the US. Air Force Secretary Michael Donley said its record-breaking bunker-buster has become operational after years of testing.
USA - US wars of “invasion, aggression and occupation” are no longer sustainable economically and socially, veteran war critic and US scholar Professor Bill Ayers told RT. He adds that if NATO, the US or Israel attack Iran, it would lead to a catastrophe. The activist says America has an old colonial mentality and grotesque double standards. Washington is frantic about the possibility that Iran might have a nuclear warhead someday – but not frantic about the fact that Israel, as Ayers says, is the third-largest nuclear power in the world. And it is not part of a nuclear non-proliferation treaty, or even admits to having the weapons.
GREECE - Financial inspectors from the troika have arrived in Greece to draft their final report on whether the country has made enough progress with its austerity and reform efforts. But many Greeks have already lost hope and are counting on the worst - an exit from the euro zone. Sharan Burrow, the general secretary of the International Trade Union Confederation (ITUC), recently visited Greece. She says she saw a country in which people are "losing hope." She added that people told her that they "are frightened to have children because they will not be able to support them."
UK - Britain's Lloyds Banking Group has received subpoenas from government agencies investigating a global interest rate rigging scandal that has rocked the banking industry and has not set any money aside to cover a potential fine, it said on Thursday. Rival Barclays has been thrown into turmoil after being fined a record $453 million by US and UK authorities for manipulating Libor interest rates. More than a dozen other banks are also being investigated and more fines are expected.
UK - Is LIBORgate the crime of the century? Or is the real crime yet to come? As has long been alleged at EconomicPolicyJournal.com, the biggest manipulators of short term rates are the central bankers themselves. Yet, they have been ignored by the MSM in this mess - even the Bank of England, which appears to be directly culpable. It seems the global central bankers have already planned a September 9th meeting this year to discuss exactly that. And, while details are sketchy at present, whatever replaces the benchmark - to which approximately $500 trillion in notional financial products are pegged - is guaranteed to have the most powerful of influences behind it.