BlackRock, which manages funds worth $4.1 trillion, said the global system is still in the doldrums and far from achieving sustainable recovery. “The eurozone, Japan and emerging markets are all trying to export their way out of trouble. Who is going to buy all this stuff? The maths does not work. Not everybody’s currency can fall at once,” it said.

The report said Wall Street is not in a bubble yet but BlackRock’s risk indicator - measuring “enterprise value” against earnings, adjusted for volatility - is almost as high as it was just before the dotcom bust. “The ratio of the two is the key. High valuations combined with low volatility can make for a lethal mix. This market gauge sounded the alarm well before the Great Financial Crisis,” it said.

“It’s not a question of personalities but of policies. The aim is to transform enemies into friends,” said the president, whose role in Israeli politics is largely symbolic with Prime Minister Benjamin Netanyahu in the more influential position.

Peres also stated that “there was a time that we did not meet, for example, with [Palestinian leader] Yasser Arafat,” until his Palestine Liberation Organisation recognized Israel. “We must concentrate all our efforts on making sure Iran does not become a nuclear danger for the rest of the world,” he told journalists. Israel accuses Iran of working to develop a nuclear bomb, a charge denied by the Islamic republic.

Israel slammed the breakthrough deal struck between Tehran and world powers in Geneva to curb Iran’s nuclear drive saying it was a “bad deal” as Tehran had obtained “what it wanted.” Prime Minister Benjamin Netanyahu’s office said: “This is a bad agreement that gives Iran what it wanted: the partial lifting of sanctions while maintaining an essential part of its nuclear program,” according to Agence France-Presse.

Tehran does not recognize the Jewish state while Israel has warned of military action to prevent a nuclear Iran that it says would pose an existential threat.

Iranian foreign ministry spokeswoman, Marzieh Afkham, said her country would never recognize the Jewish state or change its stance, and claimed Peres's offer was aimed at easing Israeli isolation in the world. "There has not been nor will there be any change on Iran's stance and views regarding the Zionist regime," Afkam said. "Iran does not recognize Israel. Our position regarding this oppressive and occupationist regime - which is completely illegitimate and has been created to occupy the lands of the Palestinians - is clear," she added. On Sunday, Peres said in an interview he would have no problem meeting with Rouhani.

“Why not?” he said in an interview with CNN’s Richard Quest at the Globes Israel Business Conference in Tel Aviv. Israel and Iran are not enemies, he added. The important factor was not the man in question, but his policies, and the goal was to turn enemies into friends, the president said. Peres compared the decision to Israel’s choice to meet with deceased Palestinian leader Yasser Arafat ahead of the Oslo Peace agreements.

The fact that structural players in Iran opposed Rouhani’s perspective complicated the matter, Peres said. “If it was only him I’d take it with greater assurance, but there are other structures, other people,” he said. “The Iranian Revolutionary Guard, half army and half organization, spreads terror all over the world and I’m not so sure they support the president. We have to see the balance of the situation.”

"Rarely has a new player on the world stage captured so much attention so quickly - young and old, faithful and cynical," she added. "In his nine months in office, he has placed himself at the very centre of the central conversations of our time: about wealth and poverty, fairness and justice, transparency, modernity, globalisation, the role of women, the nature of marriage, the temptations of power," Ms Gibbs wrote.

Vatican spokesman Federico Lombardi said it was "a positive sign" that one of the international media's most prestigious recognitions had been given to "a person who proclaims... spiritual, religious and moral values and speaks out forcefully in favour of peace and greater justice".

Many news organizations reported that some of the terrorists were linked to the Saudi royals and that they even may have received financial support from them as well as from several mysterious, moneyed Saudi men living in San Diego. Saudi Arabia has repeatedly denied any connection, and neither President George W Bush nor President Obama has been forthcoming on this issue.

But earlier this year, Representatives Walter B Jones, Republican for North Carolina, and Stephen Lynch, Democrat for Massachusetts, were given access to the 28 redacted pages of the Joint Intelligence Committee Inquiry (JICI) of 9/11 issued in late 2002, which have been thought to hold some answers about the Saudi connection to the attack. "I was absolutely shocked by what I read," Jones told International Business Times. "What was so surprising was that those whom we thought we could trust really disappointed me. I cannot go into it any more than that. I had to sign an oath that what I read had to remain confidential. But the information I read disappointed me greatly."

Former Senator Bob Graham, Democrat for Florida, told IBTimes that based on his involvement in the investigation and on the now-classified information in the document that his committee produced, he is convinced that “the Saudi government without question was supporting the hijackers who lived in San Diego… You can't have 19 people living in the United States for, in some cases, almost two years, taking flight lessons and other preparations, without someone paying for it. But I think it goes much broader than that. The agencies from CIA and FBI have suppressed that information so American people don't have the facts."

Clearly Wall Street does not like it when their supply of monetary heroin is interrupted. The Federal Reserve has tricked the American people into supporting quantitative easing by insisting that it is about "stimulating the economy", but that has turned out to be a massive hoax. In fact, I just wrote an article that contained 37 statistics that prove that things just keep getting even worse for ordinary Americans.

But quantitative easing has been exceptionally good for Wall Street. During QE1, the S&P 500 rose by about 300 points. During QE2, the S&P 500 rose by about 200 points. And during QE3, the S&P 500 has risen by about 400 points. The S&P 500 is now in unprecedented territory, and stock prices have become completely and totally divorced from reality. In essence, we are in the midst of the largest financial bubble this nation has ever seen. So what is going to happen when the Fed starts pulling back the monetary crack and the bubble bursts?

A lot of people out there are claiming that the Federal Reserve will never end this round of quantitative easing. They are suggesting that the Fed may hint at tapering from time to time, but that when push comes to shove they will just keep printing more money.

There is just one big problem with that theory. The rest of the world is watching, and they are very troubled by quantitative easing. Therefore the Fed must end it at some point because they desperately need the rest of the world to keep playing our game. Our current economic prosperity greatly depends upon the rest of the planet using our dollars as the reserve currency of the world and lending trillions of dollars to us at ultra-low interest rates. If the rest of the world decides to stop going along with the program, the system would come crashing down very rapidly.

Citing a Chinese-language piece written by Zukang for the the pro-regime Global Times, a report in the China Times says that Zukang warned of the futility of going to war over “those two tiny rocks,” a reference to the disputed islands which have become the center of a geopolitical tug of war between China and Japan, with the United States and South Korea also becoming embroiled.

“If China started a war with Japan, it would be much larger than both the Sino-Japanese War and World War II,” said Sha. “The United States and Japan should cooperate with China to maintain regional peace,” states the report.

Zukang’s rhetoric sounds somewhat alarmist but it is not that different in tone from sober analysts such as Ambrose Evans-Pritchard, who warned that the escalating crisis represents a “watershed moment for the world” and means “Asia is on the cusp of a full-blown arms race.”

US Pentagon chief Chuck Hagel has assured Gulf states that the agreement struck between major powers and Iran on November 24 will not affect the presence of some 35,000 US troops in the region. But in a speech at the Manama Dialogue security forum in Bahrain, Saudi Assistant Foreign Minister Nizar Madani said "Gulf countries should no longer depend on others to ensure their safety."

The oil-rich monarchies "must unite under one political entity in order to face internal and external challenges," said the minister. Riyadh has called for an enhanced union with fellow Gulf Cooperation Council states Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, which together account for 40 percent of the world's oil reserves and a quarter of its natural gas.

"All countries have realised that blind dependence on a foreign power is no longer acceptable. GCC countries must decide their own futures," said Madani.

"Relations between Hamas and Iran have resumed," senior official Mahmud al-Zahar told reporters at a Monday news conference in Gaza. Ties had been "affected by the Syria situation, and Hamas has withdrawn from Syria so that it can't be identified with this or that side," he said. "We've confirmed we are not interfering in the Syrian case, or in any other Arab country."

Shia Iran had long supported the Sunni Hamas against Israel, which is viewed as a common enemy. But exiled Hamas chief Khaled Meshaal left his base in Damascus after the Syrian civil war broke out in 2011, criticizing President Bashar al-Assad, a key ally of Iran, and moving to the Sunni Gulf state of Qatar.

But the Hamas leader made remarks in October of this year supporting the Assad regime and calling for an end in sectarian fighting at a Jerusalem conference. The move was subsequently slammed by powerful rebel group Army of Islam, who denounced Hamas's ties with the Assad ally and claimed that they were trying to restore funding to Gaza by exploiting their position on the conflict. Media reports indicate that the constant switching of sides has led to a huge decrease in Hamas's funding - especially from Iran.

Too much fluid can cause heart failure and too little leads to kidney problems. The National Institute for Health and Care Excellence (NICE) said doctors and nurses needed better drip training. Patients' groups said the scale of the problem was "staggering". Thousands of people each year need a drip in hospital. But NICE warns that staff are putting lives in danger due to a lack of education in managing intravenous drips.

It has developed new guidelines for the NHS in England and Wales. Dr Mike Stroud, a gastroenterology consultant at Southampton University Hospitals NHS Trust, who developed the guidelines, said: "Doctors and other health professionals are not well educated in terms of what a patient needs and that is astonishing really. This needs to change."

According to the regulator, it qualifies as a limited and controlled release under section 50A of the Gene Technology Act 2000 (the Act). PaxVax is seeking approval to conduct the clinical trial of a genetically modified live bacterial vaccine against cholera. Once underway the trial is expected to be completed within one year, with trial sites selected from local government areas (LGAs) in Queensland, South Australia, Victoria and Western Australia.

In her recent book The Drugs Don’t Work, Davies explains that seven decades ago western doctors started using antimicrobials such as penicillin on a large scale to combat infections. Since then, we have all become accustomed to relying – unthinkingly – on these wonder drugs. But although they have transformed our lives, there is a catch. Since the drugs are so widely used – if not abused – the bacteria they fight are now mutating and becoming resistant.

The drugs companies, meanwhile, are not creating new antimicrobial medicines that could beat the bugs. As a result, we are moving towards a world where, within a generation, the drugs simply may not work any more. Modern medicine could lose the ability to combat many illnesses or infections. This sounds so horrifying it seems hard to imagine, and most people (myself included) rarely ponder this issue at all. But the problem is not merely theoretical. Davies calculates that about 25,000 people a year are already dying from drug-resistant bacteria in Europe – and the toll is similar in the US. “That is almost the same number as die in road traffic accidents,” she points out.

The only thing more startling than this is just how little response it has sparked among governments and voters. The figures that Davies is citing are hardly a dark secret: data are routinely being published on health websites. And Davies could hardly be described as a maverick – she has written her book while sitting in Whitehall, at the very heart of British government. Even from that elevated position, the vivacious, no-nonsense Davies admits that she is finding it extraordinarily difficult to get people to care.

Eugene Fama, who shares this year’s 8 million crown ($1.2 million) prize with Robert Shiller and Lars Peter Hansen, said on Saturday that highly indebted governments in the United States and Europe posed a constant threat to the global economy.

“There may come a point where the financial markets say none of their debt is credible anymore and they can’t finance themselves,” he told Reuters in the snow-covered Swedish capital, where he will receive his prize on Tuesday.

"If there is another recession, it is going to be worldwide." Fama, who has been called the father of modern finance and shared the economics prize for research into market prices and asset bubbles, played down this week's strong US labor market data. "I am not reassured at all," he said.

On June 28th, a Vatican cleric, along with a former Secret Service agent, and a financial broker were all arrested by Italian police and charged with fraud and corruption. The three were suspected of smuggling $24 million by private plane across the border from Switzerland. The banks became so fearful of being tarnished by the Vatican that some have even closed down their accounts for the Embassies of the Vatican. HSBC did cease doing business with the Embassy of the Vatican, and other large banks are considering the same.

In March 2012, JP Morgan closed the bank accounts it held for the Vatican because the documentation provided was not thorough. Vatican was asking JPM to move money all around the world for it via wire transfers but the basic Know Your Customer data could not be obtained. When JPM would say, “we need to answer to the regulators on these wire transactions” the Vatican Bank would push back and say, “We answer to God,” according to a bank manager at a large European bank.

Japanese media is reporting that the intensity of radiation levels in the nuclear powerplant devastated by the earthquake – and subsequent tidal waves – of March 2011 is now at its highest levels ever. On Friday, Tokyo Electric Power Company (TEPCO) reportedly detected the deadly radiation in a duct linking one of the damaged reactor buildings to a 120m tall ventilation pipe.

• The radioactivity has been measured at 25 Sieverts (Sv) per hour.

• A total dose of two Sv is regarded as severe radiation poisoning.

• Six Sv produces a 100 per cent mortality rate after 30 days of suffering.