USA - Coca-Cola and Pepsi are changing the recipes for their drinks to avoid putting a cancer warning label on the bottle, to comply with California laws. The new recipe for caramel colouring in the drinks has less 4-methylimidazole - a chemical which California has added to its list of carcinogens. The change to the recipe has already been introduced in California.
GREECE - Greece has said it has received enough backing to push through a debt swap that should enable it to gain its latest bailout. Holders of 85.8% of debt subject to Greek law and 69% of its international debtholders agreed the deal, according to the Greek Ministry of Finance. Take-up was high enough for the government to force unwilling investors to consent to the deal.
ISRAEL - Israel has asked the United States for advanced "bunker-buster" bombs and refueling planes that could improve its ability to attack Iran's underground nuclear sites, an Israeli official said on Thursday. "Such a request was made" around the time of Israeli Prime Minister Benjamin Netanyahu's visit to Washington this week, the official said, confirming media reports.
USA - Banks are foreclosing on America's churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data. The surge in church foreclosures represents a new wave of distressed property seizures triggered by the 2008 financial crash, analysts say, with many banks no longer willing to grant struggling religious organizations forbearance.
PORTUGAL - Europe has ring-fenced Greece's debt crisis for now but its escalating recourse to legal legerdemain has shattered the trust of global bond markets and may ultimately expose Portugal, Spain, and Italy to greater danger.
SPAIN - In the years of economic crisis since the collapse of Lehman Brothers in 2008, Spanish leaders have always been able to boast to nervous investors that Spain’s public debt burden – however bad its annual budget deficits – is smaller than Germany’s and well below the European Union average.
ISRAEL - Roni Daniel saw the writing on the wall in a toilet. A former infantry commander who fought in three Middle East wars and now the dean of Israeli defense correspondents, Daniel recently visited military headquarters in Tel Aviv. There, a urinal that uses a motion detector to clean itself was signposted: “Forbidden on the Sabbath.” Troops, he realized, were being ordered to defer to Orthodox Jewish curbs on the use of electricity between Friday night and Saturday night.
UK/USA - Hacktivist group Anonymous has launched an online assault on anti-virus company Panda Security after Tuesday’s arrest of members of the hackers’ LulzSec collective. The group also raided the Vatican website in protest against the Catholic Church.
BERLIN, GERMANY - A German government affiliated think tank is drafting scenarios for future German wars. The Bundeswehr must adapt itself to counterinsurgency operations and removing reprehensible regimes from power, explained the German Institute for International and Security Affairs (SWP).
USA - Astronomers predict two years of storms which could cause chaos on Earth. The largest solar flare in six years is racing toward Earth, threatening to unleash a torrent of charged particles that could disrupt power grids, GPS and airplane flights.
GREECE - The Greek debt management agency yesterday issued a press release which confirmed that it would use collective action clauses (CACs) to force any bond holders who currently refuse to participate in the voluntary restructuring to take losses on their holdings of Greek debt.
UK - Ministers should draw up plans to deal with a break-up of the eurozone "as a matter of urgency", a committee of MPs and peers has warned. The joint committee on the government's National Security Strategy (NSS) said the full or partial collapse of the single currency was "plausible". It said political unrest and a rise in economic migrant numbers could result.
UK - The UK is unprepared for key threats to national security, according to a committee of Lords and MPs. In its first report published today, the National Security Strategy (NSS) committee says key oversights include a lack of a long-term strategy over Afghanistan.
USA - Political risk in the Middle East has increased significantly with war between Iran and Israel almost inevitable, and precious metals and equities investments offer some safety, Swiss money manager and long-term bear Marc Faber said on Tuesday.
USA - Earlier today, we reported that Germans are increasingly concerned that their gold, at over 3,400 tons a majority of which is likely stored in the vault 80 feet below street level of 33 Liberty (recently purchased by the Fed with freshly printed money at far higher than prevailing commercial real estate rates for the Downtown NY area), may be in jeopardy, and will likely soon formally inquire just how much of said gold is really held by the Fed.