Thousands of protesters, led by trade unionists, have rallied in Rome against the policies of Italy’s new coalition government. Wielding red flags and placards, they urged the centre-left prime minister, Enrico Letta, to scrap austerity measures and focus on job creation. Public trust in his fragile coalition with the centre-right is dropping, opinion polls suggest.… Continue reading Rome: Thousands rally to oppose Italy’s austerity measures
Category: Business
Fast Food: Advertisements vs. Reality
Photographer Dario D was fed up with his fast food order not looking quite as appetizing as it did on the advert and decided to see how the food sold over the counter matched up to the promised product. He bought burgers and tacos from some of the biggest chains in the United States and… Continue reading Fast Food: Advertisements vs. Reality
Dell reports 79% fall in profits as more consumers shift to smartphones and tablets
Dell has reported a 79% slide in net profit, underlining a fall in personal computers sales as more consumers shift to smartphones and tablets. The PC maker’s net profit fell to $130 million in the three months to May 3, on revenue down 2% to $14 billion. Dell is in the middle of a dispute… Continue reading Dell reports 79% fall in profits as more consumers shift to smartphones and tablets
Pope Francis condemns money cult in his first major speech on financial crisis
In his first major speech on the financial crisis, Pope Francis has called on world leaders to end the “cult of money” and to do more for the poor. Free market economics had created a tyranny, in which people were valued only by their ability to consume, the pontiff told diplomats in the Vatican. “Money… Continue reading Pope Francis condemns money cult in his first major speech on financial crisis
Steven T. Miller: Acting IRS commissioner resigns over targeting conservative groups for special scrutiny
Acting head of the US Internal Revenue Service (IRS) Steven T. Miller has quit after it emerged his staff singled out conservative groups for extra scrutiny, President Barack Obama has announced. Treasury Secretary Jack Lew had asked for and accepted the resignation of IRS Acting Commissioner Steven Miller, he said. “I will do everything in my… Continue reading Steven T. Miller: Acting IRS commissioner resigns over targeting conservative groups for special scrutiny
France enters its second recession in four years
France has entered its second recession in four years after the economy shrank by 0.2% in the first quarter of 2013, according to official figures. The country’s economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth. France has record unemployment and… Continue reading France enters its second recession in four years
Nikkei index passes 15,000 for first time since 2008
Japan’s shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken – boosting the earnings potential for exporters. The benchmark Nikkei index rose 2% to 15,096, with carmaker Toyota and consumer electronics giant Sony leading the gains. The Nikkei is up 46% since the start… Continue reading Nikkei index passes 15,000 for first time since 2008
France to introduce 1% sale tax on smartphones and tablets to fund culture
The French government is considering introducing a 1% tax on the sale of smartphones and tablets to help fund local film, music and images. The proposal estimates some 86 million euros ($112 million) could be raised per year. The bid is based on France’s so-called “cultural exception” policy, which aims to protect culture from market… Continue reading France to introduce 1% sale tax on smartphones and tablets to fund culture
Cyprus receives first installment of 10 billion-euro bailout package
Cyprus has received the first installment of a 10 billion-euro bailout package from international creditors, which was agreed earlier this year. Cyprus received 2 billion euros ($2.6 billion) in loans, said a statement by the European Stability Mechanism (ESM). Another 1 billion euros will be transferred before June 30, the ESM said. Eurozone finance ministers… Continue reading Cyprus receives first installment of 10 billion-euro bailout package
Richard Branson works as stewardess after losing bet with AirAsia chief Tony Fernandes
Virgin boss Richard Branson was the brunt of a thousand jokes on Saturday night as he donned a skirt and a full face of make-up on a flight to Malaysia. Sir Richard Branson, 62, swapped his boxer shorts for a pair of stockings after losing a Grand Prix bet with AirAsia chief executive Tony Fernandes… Continue reading Richard Branson works as stewardess after losing bet with AirAsia chief Tony Fernandes
Nawaz Sharif claims victory in Pakistani parliamentary elections
Former Pakistani Prime Minister Nawaz Sharif is celebrating with his supporters, amid early signs that his party will be the largest after parliamentary elections. Media projections based on partial results suggest a big lead for Nawaz Sharif’s Muslim League, and he has already claimed victory. The election should lead to the country’s first transition from… Continue reading Nawaz Sharif claims victory in Pakistani parliamentary elections
Bulgaria votes in parliamentary elections
Parliamentary elections are under way in Bulgaria with opinion polls predicting no outright winner. Mass protests against low living standards and widespread corruption forced the government of the centre-right Gerb party to resign in February. However, the run-up to Sunday’s election has been marked by voter apathy and claims of fraud. On Saturday prosecutors said… Continue reading Bulgaria votes in parliamentary elections
Pakistan votes in the country’s first transition from one civilian government to another in its 66-year history
Pakistan votes in landmark national and provincial elections. The vote marks Pakistan’s first transition from one civilian government to another in its 66-year history. However, the run-up to the election has been marred by violence in which more than 100 people have been killed. A bomb blast in the port city of Karachi on Saturday… Continue reading Pakistan votes in the country’s first transition from one civilian government to another in its 66-year history
Silvio Berlusconi tax fraud conviction upheld by Milan court
Former Italian PM Silvio Berlusconi’s conviction for tax fraud has been upheld by an appeals court in Milan. The court also reinstated a four-year prison sentence and five-year ban from public office Silvio Berlusconi was handed in October. Silvio Berlusconi was convicted of artificially inflating prices of film distribution rights bought by his company, Mediaset,… Continue reading Silvio Berlusconi tax fraud conviction upheld by Milan court
Imran Khan recovering in Lahore hospital with injuries to his head and spine
Former cricketer and leading Pakistani politician Imran Khan is recuperating in hospital after falling off a makeshift lift that was taking him onto a stage at an election rally in Lahore. Doctors say that Imran Khan received stitches in the head and treatment for injuries to his spine. But they say that his spinal cord… Continue reading Imran Khan recovering in Lahore hospital with injuries to his head and spine
Imran Khan injured after falling on stage during Pakistani election rally in Lahore
Former cricketer and leading Pakistani politician Imran Khan has been injured after falling off a makeshift lift that was taking him onto a stage at an election rally in Lahore. It is unclear how badly Imran Khan was hurt, but he suffered visible head injuries in the fall. Imran Khan was taken to hospital for… Continue reading Imran Khan injured after falling on stage during Pakistani election rally in Lahore
Greece makes progress on reducing its budget deficit, says IMF report
An International Monetary Fund (IMF) report has revealed today that debt-laden Greece has made progress in improving its finances, but the country must do more to fight tax evasion. In a report, the IMF said Greece had made “exceptional” progress on reducing its budget deficit since 2010. But the IMF, one of the lenders that… Continue reading Greece makes progress on reducing its budget deficit, says IMF report
Giulio Andreotti: Former Italian prime minister dies aged 94
Former Italian PM Giulio Andreotti, one of the most prominent political figures of post-war Italy, has died aged 94. Giulio Andreotti was prime minister seven times between 1972 and 1992. He led the Christian Democrat party, which dominated Italian politics for decades. He was dogged in later years by allegations of corruption and Mafia links.… Continue reading Giulio Andreotti: Former Italian prime minister dies aged 94
Malaysia election: Barisan Nasional governing coalition wins polls extending its 56-year-long rule
Malaysia’s ruling National Front coalition has won a simple majority in the country’s parliamentary election, extending its 56-year rule, with two-thirds of seats confirmed. PM Najib Razak’s Barisan Nasional coalition had passed the threshold of 112 seats in the 222-seat parliament, the Election Commission said. Defeated opposition leader Anwar Ibrahim accused the party of widespread… Continue reading Malaysia election: Barisan Nasional governing coalition wins polls extending its 56-year-long rule
Malaysia votes in most closely contested general election in country’s history
Malaysia is voting in what is widely expected to be the most closely contested general election in the country’s history. PM Najib Razak’s Barisan Nasional (National Front) coalition is up against Pakatan Rakyat, a three-party alliance headed by Anwar Ibrahim. Voters are faced with returning the ruling party, in power for 56 years, or choosing… Continue reading Malaysia votes in most closely contested general election in country’s history
Michaela Biancofiore: Italian minister resigns after one day over homophobia accusations
Michaela Biancofiore, an Italian junior equal opportunities minister, has resigned the day after being sworn in to new coalition, having said gay people invited discrimination by “ghettoizing” themselves. Michaela Biancofiore was defending herself against accusations of homophobia made by human rights groups. But she invoked more wrath with Saturday’s comments to Italian media. The sacking… Continue reading Michaela Biancofiore: Italian minister resigns after one day over homophobia accusations
Portugal to cut 30,000 civil service jobs and to raise retirement age by one year to 66
Portugal plans to cut 30,000 civil service jobs and to raise the retirement age by one year to 66 as it tries to meet the terms of a bailout. PM Pedro Passos Coelho said civil servants would also be required to work 40 hours a week instead of 35. The proposals, which would be applied… Continue reading Portugal to cut 30,000 civil service jobs and to raise retirement age by one year to 66
ECB cuts benchmark interest rate to new record low of 0.5% to boost eurozone economy
The European Central Bank (ECB) has decided to cut its benchmark interest rate to a new record low amid ongoing worries about the eurozone’s economy. The widely-expected cut to 0.50% from 0.75% is the first in 10 months. Worries about eurozone economies were underlined on Thursday with data showing manufacturing activity across the 17-nation bloc… Continue reading ECB cuts benchmark interest rate to new record low of 0.5% to boost eurozone economy
Mountain Dew goat racist commercial developed by Tyler the Creator withdrawn
PepsiCo has decided to withdraw Mountain Dew goat commercial over criticism that it depicts racial stereotypes and makes light of violence against women. The online Mountain Dew ad shows a battered white woman on crutches being asked to identify a suspect out of a police line-up of black men and a goat. One blogger described… Continue reading Mountain Dew goat racist commercial developed by Tyler the Creator withdrawn
Fistfights in Venezuela’s parliament over disputed presidential election
Several opposition MP’s are reportedly being injured during a brawl that have broken out in Venezuela’s parliament over the recent disputed presidential election. Several legislators were left bloodied and bruised, with both opposition and pro-government lawmakers accusing each other of starting the fight. A measure was earlier passed denying MPs the right to speak until they recognized Nicolas Maduro… Continue reading Fistfights in Venezuela’s parliament over disputed presidential election