UK - George Osborne has been dealt a major blow after the country’s leading public finance think-tank said he will need to borrow £64 billion more than he planned in 2015 because of the poor performance of the economy. It means that spending on services like the police, defence, transport and justice could be cut by a third by 2017/18 under current Government spending plans, the Institute for Fiscal Studies warned. The dire fiscal position may force the Chancellor to raid pensioner benefits, the NHS, schools or overseas aid, hitherto protected from cuts, according to the IFS report.
ARGENTINA - There is no such thing as Falkland islanders, the Argentine foreign minister has insisted, claiming they are British citizens living in disputed islands. Hector Timerman claimed the United Nations only acknowledges two parties in the territorial dispute - the UK and Argentina. Speaking at a press conference in central London today, Mr Timerman said: "The Falklands islanders do not exist. What exists is British citizens who live in the Islas Malvinas. The United Nations does not recognise a third party in the conflict. It says there are just two parts - the UK and Argentina."
UK - Two years on from the fall of Hosni Mubarak, the new Egyptian president is from the Muslim Brotherhood; on the streets of Cairo, the same kind of people who died in droves in 2011 are still getting killed. On the streets of Athens, the neo-Nazi party Golden Dawn is staging anti-migrant pogroms.
USA - Actually, we’ve been in a global currency war for years. As the Wall Street Journal asked in 2010: Beggar-thy-neighbor currency devaluations proved ruinous for the global economy in the 1930s. Is the world setting off down the same slippery slope again? Yes, we are.
USA - Last year's drought took a big bite out of the two most prodigious US crops, corn and soy. But it apparently didn't slow down the spread of weeds that have developed resistance to Monsanto's herbicide Roundup (glyphosate), used on crops engineered by Monsanto to resist it.
UK - David Cameron says he is proud that love between a same-sex couple will now "count the same" as a heterosexual couple, despite almost half his MPs voting against gay marriage. MPs voted in favour of the Marriage (Same Sex Couples) Bill by 400 to 175, a majority of 225. But 136 Tory MPs opposed the bill.
USA - By now we should have gotten used to the odor emanating from banks — bailouts, money laundering, Libor rate-rigging, the other misdeeds. But in Europe over the last few days, it was particularly dense.
GREECE/GERMANY - The Greek neo-Nazi Golden Dawn party is forging close contacts with Bavarian neo-Nazis, the German Spiegel Online newspaper reported. According to the report, the party, which received a surge in popularity in the country’s June general election, reportedly began setting up a cell in Nuremberg last year and recently held a conference in the southern German city. An umbrella organization of Greek communities in Germany has called on all Greeks in Germany to reject attempts by neo-Nazis to promote "violence, intolerance and social cannibalism," Spiegel Online reported.
ISRAEL - Israeli President Shimon Peres said on Tuesday that the threat of a nuclear-armed Iran was growing under the "terrifying dictatorship" ruling the Islamic republic. "The Iranian danger has grown," Peres said at the opening of the newly-elected Israeli parliament. "It threatens our existence, the independence of the Arab states, the peace of the whole world," AFP reported. "At its head stands a group of ayatollahs in their religious robes, a terrifying dictatorship, staining Persian history and a nightmare for its people," he said.
USA - In the past few years, Americans have learned a thing or two about how quickly disaster can strike. And with each Hurricane Sandy, housing crisis, and stock market crash that rocks our world, we're faced with the realization that many of us simply aren't prepared for the worst.
USA - As ABC News reports: “A new scientific examination by the non-profit food fraud detectives the US Pharmacopeial Convention (USP), discovered rising numbers of fake ingredients in products from olive oil to spices to fruit juice.”
ARGENTINA - Up until now, Argentina's descent into a hyperinflationary basket case, with a crashing currency and loss of outside funding was relatively moderate and controlled. All this is about to change. Today, in a futile attempt to halt inflation, the government of Cristina Kirchner announced a two-month price freeze on supermarket products.
IRELAND - The Vatican used to be able to count on Irish clergy to follow the rules. But now a group of Irish priests are openly questioning the Vatican's conservative approach to Catholicism, despite the threat of ex-communication.
UK - Rising wages and low house prices helped the baby boom generation to prosper. Today's young face high unemployment, expensive education, and a lifetime of renting. Have they never had it so bad?
JAPAN - A Chinese navy frigate has locked its weapon-targeting radar on a Japanese ship, Tokyo says, amid mounting tensions over a territorial row. Japanese Defence Minister Itsunori Onodera said the incident happened on 30 January near islands claimed by both nations in the East China Sea. He said this had prompted Tokyo to lodge a formal protest with Beijing. The row, over islands known as Senkaku in Japan and Diaoyu in China, has escalated in recent months.