Thursday, July 9, 2015

Greece to submit fresh proposals

The Greek government is set to present its new proposals for an economic deal to its European and international creditors.

Leaders from across the eurozone have set a final deadline for Sunday for an agreement to be made, or Greece will face an exit from the single currency.

From Athens, Jack Parrock reports.

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AC/DC Drummer avoids New Zealand jail but home detained

AC/DC drummer Phil Rudd has avoided a jail term after pleading guilty to threatening to kill and drugs charges in a New Zealand court.
Arthur Stevens has more

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Wednesday, July 8, 2015

Greece's debt needs to be restructured - IMF's Lagarde

IMF Managing Director Christine Lagarde says it's clear Greece's debt needs to be restructured, but the group's analysis of the situation remains unchanged.

She made the comments at a previously scheduled speech on sustainable development at a think tank in Washington, as the next proposals from Greek Prime Minister Alexis Tsipras are anticipated.

Our U.S. correspondent Priscilla Huff reports:

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Managing Director Christine Lagarde explains that the IMF analysis of the Greek situation remains unchanged.

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Managing Director Christine Lagarde says Greece will be treated like all other IMF member nations.

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WikiLeaks Claims NSA Spying on German Officials Widespread

WikiLeaks has published a list of phone numbers it says demonstrates that US spies were monitoring many top German officails

A report released by the group says surveillance included close aides to German Chancellor Angela Merkel and her predecessors.

From Washington Daniel Ryntjes reports…

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Disney Theme Park Removes Cosby Statue

More fallout for Bill Cosby after revelations from a deposition he made in a 2005 sexual assault case became public this week.  

The 77 year old actor and comedian was once known as "America's Dad" for his landmark 1980's sitcom "The Cosby Show." 

Rachel Silverman reports from San Francisco. 

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White House says NYSE outage is not "malicious"

The White House says there is no indication that malicious actors are at play in the shut down at the New York Stock Exchange.

It also says there does not appear to be a link between the outage there and technical problems at United Airlines and the Wall Street Journal.

The president's press secretary Josh Earnest said the federal government was constantly alert to potential cyber threats. 

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Technical glitch halts New York Stock Exchange trading

Trading on the New York Stock Exchange was suspended due to a
technical glitch at 11.32 AM Eastern standard time.

Stocks dropped when news broke that one of the biggest exchanges in
the world was down.

Mimi Chiahemen reports
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Wealth manager and financial author Dr. Stephen Leeb says investors will have to be careful to watch for volatility when the market reopens:

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FBI wants access to personal communications data


The American government wants a way around new data encryption methods, claiming it's necessary to combat terrorism.
As John Clarke reports from Washington, the head of the FBI has asked lawmakers for the right to access personal communications data, something privacy advocates are opposed to.

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American Toyota exec released without charge after drugs arrest

The American Toyota executive arrested in Japan on suspicion of illegally importing prescription drugs has been released without charge.
Julie Hamp had been the highest ranking female manager at the company, which is trying to diversify its executive ranks. 
She resigned last month and is expected to return to the US.
Our US correspondent Kate Fisher reports

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Bolivia to welcome Pope Francis

Pope Francis, the first Latin American pontiff, arrives in Bolivia Wednesday, the second stop on his three nation tour through South America. 

The Pope will first visit Bolivia's capital La Paz, where he will be greeted by the country's President Evo Morales. 

Andrea Arenas reports. 

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US-EU trade deal takes step forward

The Trans Atlantic Trade and Investment Partnership is taking a step forward following a compromise agreement in the European Parliament.

Earlier, the trade deal nearly ran around, until the U.S. Congress granted U.S. President Trade Promotion Authority, to negotiate the treaty on only a yes or no final vote for lawmakers.

Our U.S. correspondent Priscilla Huff reports:

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Reports That India and US to Sign Tax Pact


India and the US are set to sign a tax information sharing agreement this Thursday, that's according to the Reuters news agency, citing sources within the Indian government and the US embassy in India.


The move reportedly comes under a new US law designed to combat offshore tax dodging by Americans.


Lorna Shaddick reports.


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Osborne unveils a new budget for a "lower tax, lower welfare" country

 Britain's Finance chief has been setting out a new budget with the aim of creating what he called a "lower tax, lower welfare" country. 

Chancellor George Osborne delivered the first Conservative party budget since 1996, after the party won May's general election without the need for a coalition government.   From London, Patrick Jones reports. 


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US army to slash ranks by 40'000 troops

Thousands of troops will be cut from the US Army over the next two years.  

US Media reports, the fighting force will be reduced by 40-thousand soldiers.

In Washington, here's Kevin McAleese:

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Greece outlines final proposal to eurozone reditors

With just four days to go until a eurozone deadline to submit a deal,  Greece's Finance Minister Euclid Tsakalotos says he will submit a new written proposal to the EU leaders Thursday.

Sunday appears to be the ultimate deadline for a deal that may include immediate aid, as Greek banks hang on to less than 500 million euros
 
Our correspondent in Brussels Taylor Esler reports.

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Osborne lays out welfare cuts in new budget


Britain's Finance chief has been setting out a new budget with the aim of creating a "lower tax, lower welfare" country. 

Chancellor George Osborne is delivering the first Conservative party budget since 1996, after winning May's general election without the need for a coalition government. 

The Conservatives were elected on a manifesto to cut around 16 billion euros in welfare spending, however Mr Osborne indicated these cuts will be spread over a longer time frame than previously planned. 

He has also raised the personal tax threshhold, scrapped so called non-dom status which allows the wealthy to avoid UK tax and replaced student maintenance grants with loans. 

The Chancellor said his budget would revive the country's economy which is expected to 2.4 per cent this year. 

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The Chancellor said his budget would revive the country's economy which is expected to 2.4 per cent this year.  He said it was made possible by the Conservative's recent election success. 

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London travel chaos expected due to worst Tube strike in a decade

Travel chaos is expected in the British capital when London's underground train network  comes to a complete stop due to industrial action.  

Train drivers say they have not been compensated fairly for working nights, which they will be forced to do when parts of the underground network  goes into 24 hour operation on Fridays and Saturdays from September.  

From London, Catherine Drew reports. 


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Barclays CEO sacked

The Chief Executive of Barclay's Bank has been sacked, after disagreements with board members over the direction of the Bank and profitability.


The lender is currently searching for a successor, as our UK Correspondent Natalie Powell reports.


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Greece given Thursday deadline for proposal ahead of Sunday summit

Greece has been given until Thursday to come up with a new bailout proposal...

The ultimatum from EU officials comes ahead of an all-member state EU summit on Sunday, which is being seen as the final deadline for the country.

Our correspondent Dan Whitehead reports from Athens...

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UN Panel slams WHO ebola response in scathing new report

U-N appointed experts have slammed the World Health Organization for being too slow to respond to West Africa's deadly Ebola outbreak.


The panel says the agency needs to be held accountable, and must work to re-establish itself as the guardian of global public health.


Our U-N Correspondent Liling Tan has the details.


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