USA - In the shadows of the Sony hacking incident and North Korea’s massive Internet outage, the Pentagon has quietly built a multibillion-dollar cyber warfare capability and trained its commanders to integrate these weapons into their battlefield plans.
UK - From Russia to America, and from Scotland to the Middle East, the dramatic fall in the price of oil — down by nearly half in six months — has sparked an economic crisis that threatens to shift the global balance of power in dramatic fashion. As Russia teeters on the edge of crisis, America and Saudi Arabia are using the depressed oil market to wreak havoc on enemies such as Iran. The repercussions are being felt closer to home, too, with the North Sea oil industry described as being close to collapse.
VATICAN - Pope Francis listed 15 "ailments" of the Vatican Curia during his annual Christmas greetings to the cardinals, bishops and priests who run the central administration of the 1.2-billion strong Catholic Church. Here's the list.
UKRAINE - Ukraine took a historic step toward Nato on Tuesday in a parliamentary vote certain to stoke Russia's anger ahead of talks on ending the ex-Soviet state's separatist war. MPs in the government-controlled chamber overwhelmingly adopted a bill dropping Ukraine's non-aligned status – a classification given to states such as Switzerland which refuse to join military alliances and thus play no part in wars.
UK - Brent crude crashed below the $60 per barrel level again on Monday after Saudi Arabia’s oil minister said his country would not intervene to revive prices. Ali al-Naimi – who oversees the world’s largest exporter of crude – said in an interview that even if the price of oil fell to $20 per barrel the kingdom would do nothing to arrest the decline.
UNITED ARAB EMIRATES - Saudi Arabia's oil chief on Sunday dismissed allegations that his kingdom conspired to bring down oil prices in order to harm other countries and told a summit of Arab energy leaders that he was confident the market would stabilize. The kingdom, which is dependent on oil revenues, is able to weather lower oil prices due to large reserves built up over the years. Non-OPEC member Russia and other nations like Iraq, Iran and Venezuela need prices substantially above present levels to meet budget goals and want to drive prices up. Saudi Arabia maintains it is opposed to cutting production because of fears its market share could erode.
USA - About 82 percent of the derivatives market in the United States relates to the interest rate derivatives. This reflects the real Debt Bubble that is brewing. Why did the banks need to repeal Dodd-Frank and the Volcker Rule to get taxpayer backing for their losses again? One need not look beyond the oil derivatives. The banks expected oil to rise, not fall. They are on the other-side of the hedging by oil companies. What exactly is their risk in energy can be very difficult to determine.
UK - The Government is deliberately sabotaging the inquiry into historic claims of child abuse to protect “high profile figures,” a Labour MP has claimed. Simon Danczuk, the backbencher who has led the calls for an inquiry into allegations of abuse dating back decades, said the problems which had dogged the probe set up last summer appeared to have been “quite deliberate mistakes by people in central Government.”
NORTH KOREA - North Korea is suffering one of its worst ever internet outages, just days after Barack Obama warned of a 'proportional response' to the Sony hacking. Very few people in the country have access to the internet, with connections often failing. However, the continuous problems reportedly being experienced have led experts to raise the possibility that it might be under a cyber attack. Doug Madory, director of Internet analysis at Dyn Research, said the internet connectivity problems were discovered in the last 24 hours and have gotten progressively worse to the point that 'North Korea's totally down.'
BELARUS - "We have to do something with these Belarussian rubles," exclaims one Belarussian as she shops to turn worthless rubles (BYR) into physical assets. As AFP reports, the Belarussian currency was dragged down by the slide of the Russian ruble last week, leading authorities to impose draconian measures, forbid price increases even for imported goods, and warn people against panic. Now, however, in an effort to stem the flood of hyperinflating domestic prices, authorities have blocked online stores and news websites to stop the run on banks and shops as people scramble to secure their savings. One of the blocked news websites noted, it "looks like the authorities want to turn light panic over the fall of the Belarussian ruble into a real one," calling the blockages "December insanity."
USA - Experts have issued a series of warnings about several holiday decorations and children's toys which have been found to be heavily contaminated with heavy metals and toxic chemicals. Unfortunately, the items aren't just limited to one small store; instead, they're linked to a slew of popular chains.
CHINA - China has for the first time warned openly about the excessive strength of the Chinese yuan, a sign that the country may be shifting its exchange rate policy as deflation takes hold and currencies slide across Asia.
USA - Two Wisconsin girls accused of stabbing a classmate to please a fantasy character called Slender Man are mentally fit to stand trial on attempted homicide charges, a judge ruled Thursday. Experts for the state concluded that both girls would be able to assist in their own defenses but their attorneys disagreed with the findings. Waukesha County Circuit Judge Michael Bohren sided with the state during back-to-back hearings to decide the issue Thursday.
GERMANY - Disenchanted German citizens and right-wing extremists are joining forces to form a protest movement to fight what they see as the Islamization of the West. Is this the end of the long-praised tolerance of postwar Germany?
VATICAN - Pope Francis issued a blistering critique Monday of the Vatican bureaucracy that serves him, denouncing how some people lust for power at all costs, live hypocritical double lives and suffer from "spiritual Alzheimer's" that has made them forget they're supposed to be joyful men of God.