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New July 2013

Australian election campaigners clash on spending

<!– google_ad_section_start –> Australian Prime Minister Kevin Rudd on Tuesday increased pressure on the conservative opposition to reveal its policy costings, as the economy was judged the number one issue in next month’s election. <!– google_ad_section_end –>

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Portuguese markets in turmoil as government teeters

<!– google_ad_section_start –> Portuguese Prime Minister Pedro Passos Coelho’s government tottered close to collapse on Wednesday after two top ministers quit, pounding financial markets in Lisbon and across Europe. Markets reacted severely after Foreign Minister Paulo Portas resigned on Tuesday evening, a day after the shock departure of Finance Minister Vitor Gaspar. EU officials told Portugal to take its responsibilities and clarify the situation “as soon as possible”. <!– google_ad_section_end –>

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Call for global information system to curb tax evasion

<!– google_ad_section_start –> The leading developed nations have called for the creation of a global system to automatically funnel financial information about individuals and companies using offshore tax havens, but Switzerland does not want to co-operate. <!– google_ad_section_end –>

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California’s New Problem: Too Much Money

After years of battles over state budget deficits and spending cutbacks, an unexpected surplus has set off a debate about which programs to restore and how long the boon will last.

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2013 Deficit Outlook Improves for U.S.

The budget deficit for the current year is projected to come in well below what was estimated just a few months ago, according to a government study released Tuesday.

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Greece and Cyprus bailout funds due

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Eurozone finance minsters are due to meet in Brussels later to agree bailout payments for Cyprus and Greece, amid worries over Slovenia.

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Around the world, angry workers unite on May Day

<!– google_ad_section_start –> ISTANBUL (AP) — Workers around the world united in anger during May Day rallies Wednesday — from fury in Europe over austerity measures that have cut wages, reduced benefits and eliminated many jobs altogether, to rage in Asia over relentlessly low pay, the rising cost of living and hideous working conditions that have left hundreds dead in recent months. <!– google_ad_section_end –>

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Austerity, Not a Great Cure for Debt

The basic idea behind austerity is that deflation via government cuts will rein in budget deficits and sovereign debt. However, austerity in practice, as Mark Blyth writes at Foreign Affairs, hasn’t quite delivered.

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Spain’s jobless above six million for first time

<!– google_ad_section_start –> With over six million unemployed for the first time ever, Spain’s jobless rate shot up to a record 27.2 per cent in the first quarter of this year, the National Statistics Institute said on Thursday, in another grim picture of the recession-wracked country. The agency said the number of people unemployed rose by 237,400 people in the first three months of the year, a 1.1 per cent increase from the previous quarter. The total out of work stood at 6.2 million people, the first time the number has breached the 6-million mark. <!– google_ad_section_end –>

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Spain’s unemployment rate soars to record levels

<!– google_ad_section_start –> With over six million unemployed for the first time ever, Spain’s jobless rate shot up to a record 27.2 per cent in the first quarter of this year, the National Statistics Institute said on Thursday. <!– google_ad_section_end –>

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Slight dip in UK public borrowing

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The UK government borrowed £120.6bn in the financial year to April 2013, slightly lower than the amount it borrowed the previous year.

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Accepting welfare a ‘lifestyle choice’, Cameron tells Britons

<!– google_ad_section_start –> Cameron’s Conservative-Liberal coalition government, trying to rein in the national budget deficit, is bringing in a series of changes to the system this month – in the face of bitter opposition from the Labour Party. The debate has been fuelled by the case of Mick Philpott, a nationally notorious welfare-dependent father of 18, who was jailed last week for the manslaughter of six children in setting fire to his own house. <!– google_ad_section_end –>

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Gandhi says growth in India must help poor

<!– google_ad_section_start –> Rahul Gandhi, often described as India’s prime minister-in-waiting, said in a keynote address designed to raise his profile that the poor must see the benefits of economic growth. Faced with a sharply slowing economy and swelling budget deficit, the ruling Congress party vice-president told business chiefs late on Thursday he wanted to forge a long-term partnership with them to help the poor and unleash India’s “beehive” energies. <!– google_ad_section_end –>

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Welfare dad Mick Philpott gets life for killing 6 children

<!– google_ad_section_start –> A British man was jailed for life and his wife and accomplice were given long prison sentences yesterday for accidentally killing six of their children in a bungled house fire plot aimed at getting custody of five other children. <!– google_ad_section_end –>

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British government says welfare cuts will lead to fairer system

<!– google_ad_section_start –> Britain’s government yesterday defended a raft of new welfare spending cuts, a key plank of its efforts to rein in spending as the economy flounders, after church leaders attacked them as unjust. <!– google_ad_section_end –>

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Jordanian king swears in government

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King Abdullah of Jordan swears in the smallest government in four decades, as PM Abdullah Ensour sets to tackle the budget deficit.

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George Osborne flashmob marches on British parliament

<!– google_ad_section_start –> More than 400 people wearing Chancellor George Osborne masks marched to parliament in central London on Tuesday, campaigning for overseas development aid and against tax avoidance. Ahead of Wednesday’s budget – expected to pile on more austerity pain – the flashmob called on Osborne to keep his promise to ringfence foreign aid and to close corporate tax loopholes in Britain and in developing countries. International aid, health and schools are the only areas the government has pledged to exempt from deep public sector spending cuts as it tries to reduce its budget deficit. <!– google_ad_section_end –>

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Key ally withdraws from India ruling coalition

<!– google_ad_section_start –> A key regional ally pulled out of India’s ruling coalition on Tuesday, jeopardising Prime Minister Manmohan Singh’s economic reforms but posing no immediate threat to the minority government, which can survive with the support of other parties. The withdrawal of the Dravida Munnetra Kazhagam (DMK) could hamper the government’s efforts to rein in the budget deficit, spur growth in Asia’s third-largest economy and stave off the threat of a downgrade by global credit ratings agencies. <!– google_ad_section_end –>

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An Aging American Legion Fights for Relevancy

In American Legion halls across the country, old age, apathy and budget deficits have become the enemies of an organization seeking to overhaul its image and increase membership.

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America, Inc. at it’s Finest

Saks Fifth Avenue
7 For All Mankind, a division of VF Contemporary Brands
Bren-Books.com, Modern first editions and collectible fiction<

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Chocolate Artisan Truffles by Just Chocolate

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J&R Computer/Music World
Burberry
New July 2013