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US to renew Israel munitions stock in aid worth of $647 million

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Palestinian men gather around a crater caused by an Israeli air strike on the al-Dallu family’s home in Gaza City on November 18, 2012. The United States is to supply the Israeli regime with munitions worth $647 million to renew its stock after Tel Aviv’s massive bombings during the eight-day war on Gaza. The US Department of Defense informed the Congress of a deal to sell munitions including... 

Jobs Are Being Sent To China And They Aren't Coming Back

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Did you see the huge crowds of protesters that flooded the Michigan Capitol on Tuesday? They were there to protest two bills there were being considered by the state legislature that would limit the power of unions in the state. Michigan lawmakers approved the bills and this absolutely infuriated the protesters. There is a lot of passion on both sides of this debate, but I am afraid that both sides... 

GM set to close Opel plant in west Germany after 2016

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Opel cars are parked in front of Opel’s plant in the western German city of Bochum on June 8, 2009. US auto giant, General Motors, has decided to stop car production at a plant of the troubled and loss-making German carmaker, Opel, after 2016. Head of the Opel works council, Rainer Einenkel, said on Friday that there will be no more auto production at Opel plant in Bochum, situated about 442... 

Bosch under fire for tech sales to Chinese prisons

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Inmates in a Chinese prison German multinational engineering and electronics company, Bosch, has come under attack by human rights activists for offering surveillance systems to China to spy on inmates at visiting time. Kai Muller, the manager of the International Campaign for Tibet, told the German-language newspaper Suddeutsche Zeitung that it is unacceptable that the Gerlingen-headquartered company... 

Israel faces sanctions after refusing to allow IAEA inspections

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Israel fell into a carefully laid trap today by refusing to allow inspections of its weapons of mass destruction facilities. This has opened the door for the only possible response. It is sanction time for the Israelis. Let them reap what they have sown. And let us do what we must do. If the shoe were on the other foot, the Zios would be screaming to have the facilities bombed, but we won’t do that.... 

US Senate approves Magnitsky Act, ties it to Cold War era trade law's repeal

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The United States Senate, Washington, DC The US Senate has passed by an overwhelming majority a new bill normalizing trading relations with the Russian Federation, while at the same time criticizing its former adversary’s human rights record. In response, Russian Foreign Minister Sergey Lavrov said Russia would take similar, reciprocative actions. “During a meeting with Hillary Clinton in Dublin,... 

Greece unemployment rate jumps to 26 percent

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Jobless Greeks wait outside an unemployment bureau in the capital Athens. The official Greek unemployment rate has risen to 26 percent as the near-bankrupt eurozone country heads toward a sixth year of recession. The Greek statistics office ELSTAT announced on Thursday that the jobless number rose to 1.295 million in September, pushing up the unemployment rate from 25.3 the previous month and 18.9... 

China leaves behind the US as world's leading trade partner

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In just five years, China surpassed the US as leading a trading partner in the world. With 124 countries considering China their largest trading partner and only 76 having that relationship with the US, the Asian country’s influence is on the rise. In 2006, the US was the larger trading partner for 127 countries, while China dominated among 70. In 2011, the numbers reversed, with China dominating... 

Pan-African low-cost carrier Fastjet commences operations

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Fastjet flight FTZ1A lands at Dar es Salaam International airport late on November 29, 2012. The world’s first pan-African low-cost airline, Fastjet, has commenced commercial operations, enjoying a popular demand on its first day of flights. “Fastjet… commenced commercial flight operations yesterday, with its first aircraft flying passengers from Dar es Salaam to Mwanza, and Dar es Salaam... 

White House opposed new Senate sanctions against Iran

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The building of the US White House The White House was reportedly opposed to a new round of sanctions against Iran that the Senate approved in its latest efforts to mount economic pressure on the Islamic Republic. On Thursday night, US senators voted 94-0 to a new round of sanctions against Iran’s energy, port, shipping and shipbuilding sectors in an amendment to the National Defense Authorization... 

US-European Refugee Crisis Stuns Russia

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A shocking report issued today by the Federal Migration Service (FMS) is warning that local services in Moscow and St. Petersburg are being “overwhelmed” due to the growing number of American and Western European refugees flooding into Russia, a situation, they say, was made even worse this past month with the reelection of President Obama. The FMS is the federal executive body that implements... 

Eurozone jobless rate at record high of 11.7% amid debt crisis

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Workers marching in downtown Naples, in southeast Italy, during a protest to demand new job opportunities. Official data show that the unemployment rate in the eurozone hit a new record high of 11.7 percent in October as the 17-nation bloc continues to grapple with a worsening financial crisis. The Eurostat data agency said on Friday that a total of 18.7 million people were out of work in October,... 

Fitch Ratings downgrades Argentina on default concerns

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The Fitch ratings agency has downgraded Argentina five notches, saying the country could default on its obligations to US creditors. That’s after a US judge ordered Argentina to set aside $ 1.3bn for debt repayment by December 15. The rating agency cut its long-term rating for Argentina to “CC” from “B,” with the short-term rating being cut to the level one step above default – to “C”... 

Spain's Bankia to cut 6000 jobs amid recession concerns for Q4

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Bankia’s headquarters in Madrid Spain’s nationalized Bankia says it plans to cut 6,000 jobs by laying off about 28 percent of its staff over the next three years. The announcement on Wednesday follows a preliminary report on Madrid’s overall economy by the Spanish Central Bank suggesting that the country’s job-killing recession is expected to persist into the final quarter of 2012. Bankia’s... 

Moody's downgrades France, sets negative outlook

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Credit rating heavyweight Moody’s Investors Service has stripped France of its top AAA rating to Aa1 with a negative outlook, sending a warning to President Hollande’s endeavours to rebuild French economic growth and credibility. ­Moody’s said its decision to downgrade Europe’s second largest economy reflects France’s deteriorating economic outlook, the recession in the wider Eurozone... 
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