The prime minister of France is calling for the French people to support the government as it tries to tackle a “crushing” debt crisis.
Jean-Marc Ayrault said the nation is preparing to deal with an “unprecedented” debt crisis. He said that anyone earning more than 1 million euros would be taxed at 75%. Continue reading
The International Monetary Fund (IMF) has stated that the United States economic recovery “remains tepid” and has cut the estimated growth of the US economy by a tenth of a percentage point to 2% overall.
The IMF said that the eurozone debt crisis is a driving factor in the revised estimate but also uncertain domestic policies and the upcoming Presidential election. The IMF report also stated that “house prices have stabilized recently but remain at depressed levels.” Continue reading
Gunmen attacked the African Inland Church in Garissa, Kenya over the weekend killing 15 and wounding 40.
Security officials say that gunmen overpowered two police officers who were guarding the building, then took the officer’s rifles inside and began firing. When the congregants fled out the front doors of the church other gunmen were waiting in ambush. At least one grenade was also thrown at the church during the attack. Continue reading
A pair of 15-year-old Canadian girls have been charged with multiple human trafficking related charges after being discovered forcing other teen girls into prostitution.
Police are also seeking a 17-year-old girl who is believed to be an accomplice of the 15-year-olds.
The girls have been charged with: human trafficking; robbery; procuring; forcible confinement; sexual assault; assault; uttering threats and abduction. Continue reading
Over two million people are still without power and the death toll has risen to 18 in the aftermath of a weekend storm that roared across the eastern United States. Maryland, West Virginia, Virginia, Ohio and the District of Columbia have declared states of emergency due to the disaster.
Power is reported out along the eastern seaboard from New Jersey to North Carolina and as far west as Illinois.
Compounding the problem is a record heat waves that is keeping daytime temperatures at and over 100 degrees. Many residents have no access to air conditioning or refrigerators. Continue reading
Production declined and new orders plummeted in June marking the first decrease in US manufacturing in three years. The news comes on the heels of other countries like China having downturns in manufacturing.
“This is not good,” Dan Greenhouse, Chief Economic Strategist at BTIG told the BBC. “It is…a terribly weak number.” Continue reading
Seven people have been killed and dozens wounded in a homicide bomb attack in Kandahar, Agfhanistan.
The attack happened in front Kandahar University about a mile from the former compound of Taliban leader Mullah Omar. The former Al-Qaeda base is now a major base used by US Special Forces operating in the country. Continue reading
Three governors declared a state of emergency after powerful storms swept through the eastern United States Friday night, resulting in at least 10 deaths and more than three million without power. Continue reading
Rain in northeastern India is causing flooding in the state of Assam that has forced close to a million people out of their homes.
Of the 27 districts in the state, 21 have been overrun by flood water and at least 27 people have been confirmed dead. Continue reading
European Union officials announced that the group has moved closer to creating a central European treasury that would be able to override the individual budgets of member nations. The system would essentially create a government entity in Brussels that would have power over the economies of all member nations.
Several leaders in the EU want the debts of individual member nations to be guaranteed by all the members of the Eurozone instead of each member being individually a problem on the system like Greece and Spain have been in the last year. Continue reading
