UK - Something quite remarkable happened in London in the first decade of the new millennium. The number of white British people in the capital fell by 620,000 - equivalent to the entire population of Glasgow moving out. The consequence, as revealed by the latest census, is that white Brits are now in a minority in London, making up just 45% of its residents.
UK - Households must prepare for a sharp rise in energy bills within two years as Britain comes “dangerously” close to power shortages, the chief executive of Ofgem has warned. The country would become more reliant on foreign gas to generate electricity as European Union pollution laws meant the dirtiest coal-fired stations had to shut, said Alistair Buchanan, the regulator’s outgoing head.
UK - When Costa Coffee advertised eight vacancies at a new branch of the café on a jobs website, managers expected a strong response. But even they were surprised when 1,701 applications poured in. Some of the applicants included vastly over-qualified former retail managers, a dire indication of the troubled high street. A Costa spokesman said managers were shocked at the response to the advertisements for three full-time and five part-time posts at the café, to open in Mapperley, Nottingham, on Friday. The jobs pay between £6.10 and £10 an hour. The unsuccessful applicants included senior retail managers with more than 15 years’ experience. Several graduates also applied, apparently struggling to find suitable employment after leaving university.
RUSSIA - From amateur astronomers to space junk traders to Canadian satellite makers to dashboard cam enthusiasts, the flaming Russian Meteorite has captivated the whole planet by offering a little something for everyone. Never in the history of things falling out of the sky, have people been so excited about a simple chondrite that's 10 percent metallic iron and nickel alloy. If nothing else comes out of the meteorites' one shining moment, at least most people now know (or should know) the difference between a meteoroid (a particle that's still hurtling through space), a meteor (the burning particle as it flies through the atmosphere), and meteorite (the leftover rock that actually hits the ground). Finally, some news you can use.
NORTH KOREA - North Korea threatened South Korea with "final destruction" during a debate at the United Nations Conference on Disarmament on Tuesday, saying it could take further steps after a nuclear test last week. Since the North tested a nuclear bomb last week in defiance of UN resolutions, its southern neighbor has warned it could strike the isolated state if it believed an attack was imminent. Pyongyang said the aim of the test was to bolster its defenses given the hostility of the United States, which has led a push to impose sanctions on North Korea.
TUNISIA - Tunisian Prime Minister Hamadi Jebali has resigned after failing to reach agreement on forming a new government. Mr Jebali had been trying to form a new coalition in response to the political crisis sparked by the killing of opposition leader Chokri Belaid. He had said he would quit if his Islamist Ennahda party did not back his plan for a cabinet of technocrats. Mr Belaid's assassination on 6 February provoked mass protests and resignations from Tunisia's coalition government. It was the first political assassination in Tunisia since the popular unrest in 2011 forced the country's autocratic leader Zine al-Abidine Ben Ali from power and also inspired the so-called "Arab Spring" uprisings across the region.
USA - At a recent Washington climate change rally, who is demanding action? Demanding action from whom? What action? In reality, the diminutive, corporate-media inflated rally in DC was organized by the very corporate-financier special interests that have been wreaking terrible havoc on both the human population and the environment of this planet for decades.
EUROPE - After the War of Independence, the United States looked a lot like the euro zone, with some states crippled by debt. In the end, under a proposal by Alexander Hamilton, the federal government assumed all the debt, securing the country's creditworthiness. A new report argues it could be a good model for Europe.
EUROPE - In a shockingly frank interview, the CEO of Saxo Bank describes the Euro's recent rally as illusory and that "the whole thing is doomed," as the continent is not supported by a fiscal union. Confirming that the only thing holding the farce together is political not economic efforts, he sums the situation up perfectly: “The whole thing is doomed,” Christensen said yesterday, “Right now we’re in one of those fake solutions where people think that the problem is contained or being addressed, which it isn’t at all.”
USA - If the economy is improving, then why are many of the largest retail chains in America closing hundreds of stores? When I was growing up, Sears, JC Penney, Best Buy and RadioShack were all considered to be unstoppable retail powerhouses. But now it is being projected that all of them will close hundreds of stores before the end of 2013. Even Wal-Mart is running into problems. A recent internal Wal-Mart memo that was leaked to Bloomberg described February sales as a “total disaster”. So why is this happening? Why are major retail chains all over America collapsing? Is the “retail apocalypse” upon us? Well, the truth is that this is just another sign that the US economy is falling apart right in front of our eyes.
JAPAN - Japan’s premier has left the door open for outright purchases of foreign bonds to weaken the yen, a move that would risk a serious clash with the US and Europe and a fresh escalation in global currency tensions. Shinzo Abe told Japanese politicians that intervention on the markets is among the options being discussed. “There are views calling for foreign bond purchases,” he said, pointedly refusing to rule out such action. The comments come despite a G20 statement over the weekend committing all major powers to “refrain from competitive devaluation”.
USA - Royal Bank of Scotland Group Plc is set to pay 400 million to 500 million pounds ($783 million) in fines for manipulating interest rates, the second-largest penalty imposed in a global regulatory probe, two people with knowledge of the matter said. An RBS unit will plead guilty to criminal charges as part of a deal with the US Justice Department, a person familiar with the talks said. It’s the third fine to result from a probe into whether lenders rigged the London interbank offered rate, or Libor. Investment banking chief John Hourican also was expected to resign, the person said. No individuals will be criminally charged as the Justice Department announces its settlement with the bank, according to two people with direct knowledge of the matter.
UK - A tax on people’s jewellery and paintings is being considered by the Liberal Democrats, it emerged yesterday. Under the French-style scheme, tax inspectors would get unprecedented new powers to go into homes and value rings, necklaces, paintings, furniture and other family treasures. Householders would be forced to pay a new “wealth” levy on the assets and there could even be fines for those who refused to let inspectors value their possessions. The plans come in a policy document drawn up by party tax experts as groundwork for the Lib Dems’ next general election manifesto.
UK - Britons are more than ever turning away from the EU with just one in three claiming they would vote to stay in the bloc, according to a poll. Mr Cameron finally bowed to pressure last month and promised the country a referendum while strongly maintaining we should remain within the EU.
But with some 50 per cent of people saying they would vote for "out" if an in-out referendum was called tomorrow, the PM may have to rethink his strategy. Just 33 per cent said they would vote for membership while 17 per cent would not vote either way, according to the poll by Harris Interactive for the FT. Mr Cameron, has vowed that after the next election, he would renegotiate powers from the EU and only then give the public a vote.
UK - Sterling struck seven-month lows against the dollar, before later recovering some of its losses, as a Bank of England policymaker said the pound may need to weaken further. During morning trading on Monday, the pound fell 0.5 percent to $1.5438 - its lowest level since July last year - before recovering to trade around $1.5483. Sterling's slide came as Martin Weale, a senior Bank of England policymaker, said on Saturday that the pound may need to weaken further, which would help to make exports cheaper and spur growth.