USA - The International Monetary Fund has said it is suspending financial aid to Greece under its huge rescue program until a new government is formed. IMF spokesperson Gerry Rice said discussion on the completion of the sixth review of Greece's bailout will resume once a new government is in place. The decision comes after Greek lawmakers failed to elect a new president in a final round of voting. It leaves the country facing an early election that could derail the international bailout programme it needs to keep paying its bills.

GREECE - Greece was living beyond its means before it joined the euro in 2002. Public spending soared as euro stability encouraged lending, but Greece failed to tackle widespread tax evasion and wasteful inefficiencies, especially in the bloated public sector.

GREECE - With her red rubber glove raised in defiance, Despoina Kostopoulou has become a figurehead for a nation fed up with austerity. Since the 53-year-old became one of almost 600 cleaning ladies sacked by the Greek Finance ministry on a cost-cutting drive in 2013, she has terrorised not only her own government, but also the bureaucrats from the International Monetary Fund (IMF) and European Union with their draconian rules on Greek public spending.

UK - £5.7 billion - This is the amount that the UK's Office for National Statistics (ONS) estimated that prostitution contributed to the economy in 2012, following a decision by the EU that prostitution and illegal drugs should be counted as part of a country's Gross Domestic Product.

PHILIPPINES - Flash floods and mudslides have killed at least 53 people in the central and southern Philippines, the national disaster agency said on Wednesday, after days of heavy rains that have also hit neighboring Southeast Asian countries. Tropical storm Jangmi prompted the evacuation of more than 86,000 people in Surigao del Sur, Bohol and Cebu provinces before weakening into a tropical depression. A powerful typhoon killed 18 people this month and forced more than 1 million people to flee to shelters in what a UN agency said was one of the world's biggest peacetime evacuations.

USA - US cybersecurity experts say they have solid evidence that a former employee helped hack Sony Pictures Entertainment’s computer system — and that it was not masterminded by North Korean cyberterrorists. One leading cybersecurity firm, Norse Corp, said Monday it has narrowed its list of suspects to a group of six people — including at least one Sony veteran with the necessary technical background to carry out the attack, according to reports. The investigation of the Sony hacking by the private companies stands in stark contrast to the finding of the FBI, which said December 19 its probe traced the hacking — which ended up foiling the planned wide release of the Hollywood studio’s “The Interview” — to North Korea. The FBI said Monday it is standing behind its assessment, adding that evidence doesn’t support any other explanations.

VENEZUELA - Venezuela entered a recession in 2014, with the economy shrinking in the first three quarters, the Central Bank said on Tuesday, blaming political opponents for the dismal figures. In a statement, the bank said GDP contracted 4.8 percent in the first quarter, versus the same period of last year, then it fell a further 4.9 percent in the second quarter and shrank 2.3 percent in the third quarter. The statement added that 12-month inflation, which is the highest in the Americas, reached 63.6 percent in November.

USA - This year’s influenza season started earlier than expected and is sending more patients to the hospital, raising concerns this could be a more severe outbreak than in recent years. Thirty-six states are now experiencing high levels of flu activity, according to the Centers for Disease Control and Prevention in Atlanta, as this year’s flu vaccine may not fully protect against a strain known as influenza A H3N2 that is currently circulating and tends to be more severe. Fifteen children age 18 and under have died from the flu as of December 20.

GERMANY - Germany has warned Greece that it is on a collision course with the European Union as the country’s far-Left anti-austerity opposition stands poised to win a snap election in four weeks’ time. Following a defeat for the Greek government’s presidential candidate on Monday, Greece will hold a general election on 25 January with the prospect of victory for Syriza, a far-Left party.

GREECE - Athens stock exchange falls by more than 10 percent after third failure to secure backing for new president triggers snap election. The Greek prime minister's failure to secure support for his presidential nominee has sent European markets into turmoil, with the prospect of the far left opposition claiming power raising fears over the eurozone's future. The Athens stock exchange dropped by 11 percent and caused ripples around the eurozone, with Spanish and Italian indices also falling.

MIDDLE EAST - A spokesman for ISIS has claimed in an interview it's only a matter of time before the jihadists expand and conquer Europe. He also defended the terror group's practices of mass enslavement and beheadings, and said that it plans to carry out "the largest religious cleansing campaign" in history, which will include the killing of hundreds of millions of people. "No, we will conquer Europe one day. It is not a question of if we will conquer Europe, just a matter of when that will happen. But it is certain. ... For us, there is no such thing as borders. There are only front lines," the spokesman, identified only as a German ISIS fighter, told journalist Juergen Todenhoefer in an article for CNN.

USA - Because of the industrial processes involved in manufacturing, sugar has practically no nutritional value: The vitamins and enzymes have become denatured (lost their molecular shape) and thus fail to contribute to the body’s metabolic requirements. Refined sugar is also devoid of mineral content. It is pure energy.

RUSSIA - The Russian economy has fallen into decline for the first time in five years, according to official figures. Russia's economy ministry said GDP had fallen by 0.5 percent in the year to November, the latest sign that the country is heading for recession. The worse-than-expected figures sent the rouble tumbling on Monday. After staging a slight recovery in recent weeks, it fell to trade at around 56 to the dollar. The recent collapse in oil prices and Western sanctions have battered the Russian economy, forcing drastic interventions from the Russian Central Bank and creating the biggest crisis in Vladimir Putin's leadership of the country. Officials expect the economy to shrink by 4 percent next year if oil trades at $60 a barrel.

UK - Political leaders must agree a plan to legalise assisted dying as one Briton a fortnight is now travelling abroad to end their lives, an alliance of prominent figures from across public life warns today. In a letter to The Daily Telegraph, some 80 doctors, writers, actors, clerics and politicians say an “overwhelming majority” of the public now supports a change in the law and that Parliament must allow time to finally resolve the issue. David Cameron, the Prime Minister, has previously indicated that he would oppose any plans to legalise assisted suicide. However, he has made clear that MPs will be given a free vote on the issue if it is debated in Parliament.

ARGENTINA - Defences on the Falklands are being reviewed after it emerged Russia plans to offer Argentina long-range bombers. The aircraft, which Moscow will swap for beef and wheat, would be able to mount air patrols over Port Stanley.