UK - By Dr George Carey, Former Archbishop Of Canterbury: “I have always counselled against writing off Christmas for its blatant commercialism. Christians shouldn’t be Scrooges. It was pretty smart of the early Christian Church to connect the birth of Jesus to an existing pagan festival. We have to recognise that a mid-winter feast predates our own faith and belongs to people of all faith and none. For that reason I have been reluctant to enter this particular debate. But the sudden arrival of ‘Black Friday’, an import from the US, has marked a new intensity in the festival of acquisition now enveloping us at this time of year – and it is important to say something.”
EUROPE - The European Union “will survive” if Britain leaves after an in-out referendum but would be “dead” if France voted for exit, Herman Van Rompuy has said. The outgoing president of the European Council criticised the UK and indicated that David Cameron will not be able to secure changes to freedom of movement rules.
AUSTRIA - Oil slumped on Wednesday as expectations that Opec will cut production faded following dovish remarks by cartel kingpin Saudi Arabia, which could signal the beginning of a price war. Speaking on the sidelines ahead of Thursday's critical meeting of the Organisation of Petroleum Exporting Countries (Opec) in Vienna, Saudi oil minister Ali Al-Naimi said: "The market will stabilise itself eventually".
AUSTRIA - A landmark Opec meeting has ended in anger after the cartel's members agreed to leave oil production quotas unchanged, sending crude prices plummeting. Venezuela's representative to the Organisation of Petroleum Exporting Countries (Opec), Rafael Ramirez, stormed out of the secretariat in Vienna after his proposal to make deep cuts was rejected by Opec kingpins Saudi Arabia and a clutch of Gulf Arab producers. Iran's influential oil minister, Bijan Zanganeh, said the decision not to make a cut was not what he wanted, signalling deep divisions between Opec's "core" Gulf producers and members aligned to Iran and Venezuela. Mr El-Badri denied Opec's decision will trigger a price war that could put shale oil drillers in the US out of business. "We're not sending any signal," he said.
RUSSIA - OPEC policy on crude production will ensure a crash in the US shale industry, a Russian oil tycoon said. The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year’s slump in the oil price caused by surging supply from US shale fields.
GERMANY - Last Saturday the Socialist Equality Party (PSG) held a meeting in the city of Stuttgart. Peter Schwarz, editor of the German language edition of the World Socialist website and a member of the executive of the PSG, gave a presentation entitled, "Why do the German elites want war? The historical and political reasons for the renewed bid for world power."
GERMANY - Germany wants to avoid wrecking Russia’s economy with sanctions imposed in the conflict over Ukraine, Foreign Minister Frank-Walter Steinmeier said. The economic measures are taking a toll on Russia, so the European Union doesn’t need to intensify them, Steinmeier said in a speech today in Berlin. Instead, Germany must take the lead in negotiations aimed at defusing the eight-month conflict on Europe’s eastern periphery, he said.
SWITZERLAND - Five million Swiss voters will decide on Sunday whether to force the Swiss National Bank to repatriate all its gold from vaults in Britain and Canada, boost its holdings of bullion to 20 percent of foreign reserves and then keep the metal forever. The “Save Our Swiss Gold” referendum is a valiant attempt by Switzerland’s army of gold bugs - and the populist Swiss People’s party (SVP) - to lead the world back to the halcyon days of the international Gold Standard. It is a primordial scream against a quantitative easing and money creation a l’outrance by the leading central banks.
CHINA - The PLA General Staff Headquarters recently published 108 military items for "advanced training technologies and equipment", encouraging private companies to take part in their research, development and manufacturing. The move indicates that the military is moving away from a monopoly of state-owned defence contractors in training logistics and lowering the eligibility threshold for military procurement, the official PLA Daily reported.
JAPAN - When the lights change at the Shibuya crossing in Japan's capital, one of the world's busiest pedestrian thoroughfares, hundreds of people with their eyes glued to smartphones pick their way over the road.
Despite being engrossed in the latest instalment of Candy Crush or busy chatting with their friends on messaging app Line, most manage to weave around cyclists, skateboarders and fellow Tokyoites.
UK - Schemes to tackle climate change could prove disastrous for billions of people, but might be required for the good of the planet, scientists say. That is the conclusion of a new set of studies into what's become known as geo-engineering. This is the so far unproven science of intervening in the climate to bring down temperatures.
USA - More than 11,000 oil wells have been drilled in North Dakota since 2006, covering the state’s agricultural landscape. In all, almost 40,000 miles of well bores have been drilled underground to connect the fracking operations to surface wells. Laid end to end, they would circle the Earth about one and a half times.
TEMPLE MOUNT, ISRAEL - 'Mourabitoun' consists of dozens of men and women, and is funded by Gulf states and Islamic organizations. Israel's Public Security Minister Yitzhak Aharonovitch, backed by the Israel Police and internal security agency Shin Bet, is drafting a bill to outlaw the civilian Palestinian guard stationed on the Temple Mount, a site holy to both Muslims and Jews.
UK - The family of Lee Rigby today accused Facebook of failing to help stop his killers as it emerged the social network has still not handed over data from five accounts opened by one of his extremist murderers. His sister Sara said the internet giant had ‘blood on its hands’ because it had hosted exchanges between one of the soldier’s murderers and an Al Qaeda extremist, in which the former said: ‘Let’s kill a soldier.’
EUROPE - Auditors have identified a black hole in European Union budgets that could lead to extra demands for cash from the British taxpayer of up to £34 billion over the next six years. David Cameron will be legally obliged to make up a share of a shortfall of £259 billion by 2020 with liabilities for the Treasury estimated at £33.7 billion, calculated at the usual rate of Britain’s EU contributions. The hole in EU spending has been identified by the European Court of Auditors and represents a political disaster for the Prime Minister who has made repeated pledges to bring down the amount Britain pays into Brussels budgets.