Archive for: July, 2009

Russia Drills For Oil Off Cuba

Russia Drills For Oil Off Cuba

Image by Annie Mole via Flickr           The Russian Federation entered into a contract with the Republic of Cuba to explore for oil in the Gulf of Mexico where it is predicted there could be as much as 20 billion barrels. A term of the contract provides Cuba with $150 Million [...]

Berlusconi Denies Escort Deal

Berlusconi Denies Escort Deal

Image by talkradionews via Flickr Italy’s Prime Minister Silvio Berlusconi remains entangled in a controversy involving several call-girls who admit to entertaining Berlusconi in exchange for his assistance in resolving their business and legal problems. Berlusconi denies any impropriety on his part and is adamant that the women involved are merely acquaintances and that his [...]

UBS Strikes Deal To Avoid Criminal Charges

UBS Strikes Deal To Avoid Criminal Charges

Image by stephenhanafin via Flickr         Swiss banking giant, UBS AG, today entered into an agreement with the US government in which UBS will disclose the names of 52,000 Americans who hold secret bank accounts at UBS in order to avoid criminal indictment. While Switzerland maintains banking secrecy as a matter of [...]

Insurance Industry Blocks Health Care Reform

Insurance Industry Blocks Health Care Reform

          House Speaker Nancy Pelosi has repeatedly made clear that the obstacle to providing health care for all Americans is the insurance industry itself.        Insurance companies have lobbied heavily to maintain the status quo, and deny health coverage for the majority of Americans, simply because it is hugely profitable [...]

McKinnon Extradited To US For Hacking

McKinnon Extradited To US For Hacking

Gary McKinnon allegedly hacked into 100 US government computers during 2001 and 2002, looking for evidence that the government was hiding information regarding UFO’s.Instead of thanking McKinnon for exposing the absurd vulnerabilities of the US government’s database, the government has spent the past seven years trying to extradite him from the UK for the purposes [...]

Internet Cut-Off To West Africa

Internet Cut-Off To West Africa

Image via Wikipedia The 9,000-mile undersea SAT-3 fibre optic cable that runs from Europe to South Africa through West Africa was cut earlier today causing substantial disruption to internet and cell phone service to Nigeria, Benin, Niger and Togo. Over 75% of the bandwidth was lost when the cable was damaged making communication with West [...]

Crowley Meets President Obama At The Whitehouse

Crowley Meets President Obama At The Whitehouse

The ‘teachable moment’ finally arrived today when Sgt. James Crowley of the Cambridge Massachusetts police department met with President Barack Obama, Vice-President Joe Biden, and Harvard University Professor Henry Gates at the Whitehouse. Crowley arrested Gates last week for “loud and tumultuous conduct in a public space”, a charge often called disorderly conduct. Gates was [...]

China Stops Enforcing Counterfeiting Laws

China Stops Enforcing Counterfeiting Laws

Image via Wikipedia Almost 90% of all counterfeit consumer goods originate in China with international brand names such as Prada, Gucci, Apple, Microsoft, Rolex and thousands of others. The Chinese government passed laws to criminalize counterfeiting and that acted as a deterrent, for a while. Since the economic downturn began late last year, the Chinese [...]

Microsoft & Yahoo = Google Competition

Microsoft & Yahoo = Google Competition

Image by Gnal via Flickr Microsoft and Yahoo have finally  joined forces, after 18 months of neogiations,  to form a formidable competitior to Google’s Search Engine capability. Microsoft will provide the search platform through it’s newly launched “Bing” Search engine while Yahoo provides the user traffic and advertising. Yahoo’s former CEO, Jerry Yang, stepped down [...]

China’s Stock Market Drops 8% Suddenly

China’s Stock Market Drops 8% Suddenly

Image by Getty Images via Daylife The Chinese stock market has seen an overall 90% gain in the past eight months but today there was a glitch in this stellar performance when the Chinese government announced that it will begin tightening the money supply through the Chinese banking system. On the news, the Chinese Stock Index, [...]

US Bank Failures Total 90 & Growing

US Bank Failures Total 90 & Growing

Image by marctonysmith via Flickr One of the first indicators of major trouble in the US economy last year was the failure of  Washington Mutual Bank which seemingly occurred overnight. As it turns out, Washington Mutual was only the first of many banks and thrift institutions to fail. The total now exceeds 90 banks and thrifts and [...]

Iran Closes Prison After Official’s Son Murdered

Iran Closes Prison After Official’s Son Murdered

Image by Saharauiak via Flickr   The Iranian government has imprisoned over 1,500 protesters or demonstrators following the civil unrest which resulted from the circumstances surrounding the June 12, 2009 presidential election. Many of the people arrested apparently vanished without trace. Those that were imprisoned at the Kahrizak facility included the 25-year-old son of an [...]

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