FRANKFURT, GERMANY - Germany's Bayer (BAYGn.DE) was ordered by a jury in the United States to pay $1.5 million in damages to three farmers for losses they incurred because of contaminations of Bayer's genetically modified rice, the second in about 500 similar cases pending.
CHINA - Real estate, stocks, credit. China sure has its share of bubbles. Oddly, little attention is paid to the biggest one of all. China's currency reserves grew by more than the gross domestic product of Norway in 2009. Its $2.4 trillion of reserves is a bubble all its own, one growing before our eyes with nary a peep out of those searching for the next big one.
CHINA - Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China's large commercial banks. The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee.
LEBANON - Lebanese Prime Minister Sa'ad Hariri warned that the Lebanese government would officially back the Hizbullah terrorists in the event of another war with Israel and claimed that the Jewish State was threatening both Lebanon and Syria.
EUROPE - The problems facing Greece are just the beginning. The countries belonging to Europe's common currency zone are drifting further and further apart, and national bankruptcies are a distinct possibility. Brussels is faced with a number of choices, none of them good.
WASHINGTON, USA - A paralyzed US capital braced for a second winter storm to hit in less than a week, closing down Congress, keeping federal workers home and even rescheduling a White House concert.
JAPAN - Honda has added 437,700 cars, mainly in North America, to its existing global safety recall over airbag inflation problems. The fresh blow to Japanese carmakers came as Toyota recalled nearly half a million hybrid cars over faulty brakes.
UK - Researchers say the Sun is awakening after a period of low activity, which does not bode well for a world ever more dependent on satellite navigation. The Sun's irregular activity can wreak havoc with the weak sat-nav signals we use.
USA - Traders and hedge funds are making record bets against the euro, underlining the mounting alarm over the region's debt crisis. Market players have bet almost 5 billion pounds that the value of the currency will fall against the US dollar, the largest 'short position' since it was launched.
UK - The Archbishop of Canterbury issued a "profound apology" to the lesbian and gay Christian community today. In a powerful address to the General Synod, Dr Rowan Williams warned that any schism within the Church would represent a betrayal of God's mission. But he made clear that he regretted recent rhetoric in which he has sought to mollify the fears of the traditionalist wing of the church.
UK - Conservative clergy have warned of a mass exodus from the Church of England and a sharp drop in its income unless divisive plans for the introduction of women bishops are changed. On the first day of the gathering of the Church's governing body, the General Synod, Anglo-Catholics claimed that "large numbers" would leave for Rome if their demands for concessions are not met.
GERMANY - German Foriegn minister Guido Westerwelle has called for the EU to proceed with plans for a European army under the Lisbon Treaty, which he dubbed "the beginning and not the end" of a common security and defence policy. His remarks at the annual Munich Security Conference followed a call by Berlin's defence minister Karl Theodor zu Guttenberg to end what he called Nato's "absurd" practice of unanimous decision-making.
BEIJING, CHINA - Senior Chinese military officers have proposed that their country boost defense spending, adjust PLA deployments, and possibly sell some US bonds to punish Washington for its latest round of arms sales to Taiwan.
LONDON, UK - Hours after Iranian President Mahmoud Ahmadinejad ordered his country's atomic energy program to increase its uranium stockpile to a new level of refinement, Britain's Conservative Party warned it could launch a full-scale military attack against the rogue state if it gains office in this spring's general election.
UK - For generations Dover has stood as an indomitable symbol of Britain's freedom and independence. The town, with its white cliffs, port and sprawling castle stood at the very edge of the nation's frontier with the Continent. But now part of that proud history is up for sale and the leading bidder is revealed as the former age-old enemy - France.