In its annual report, the Bank for International Settlements said on Monday that the global economy may be nearing a “tipping point” as a result of soaring food and oil prices, a slowdown in bank lending, and large household debts.
“European stocks pared declines as record oil prices lifted StatoilHydro ASA, Norway's largest energy company, BP Plc and Total SA. Dow Jones Industrial Average futures and most Asian equities retreated,” according to Bloomberg.com.
The Financial Times reports that, “France Telecom abandoned its $42bn bid for TeliaSonera on Monday after failing to agree a price with the Nordic telecommunications company and its main shareholder, the Swedish government.”
“Family Guy” creator Seth McFarlane has teamed up with Google to create an animated series that will appear only on the Internet. “Google will syndicate the program using its AdSense advertising system to thousands of Web sites that are predetermined to be gathering spots for Mr. MacFarlane’s target audience, typically young men.”
"Operation Cannonball," the effort to attack al-Qaida and Osama bin Laden in Pakistan, has been hindered by fears of isolating President Pervez Musharraf, anonymous sources told The New York Times. The diversion of resources to the war in Iraq has also hampered efforts to route out al-Qaida.
“In other Middle East countries with similar demographics, like Egypt and Turkey, young people are increasingly turning back to their Muslim identity for solace. But Iran's mostly well-educated youth are more likely to seek other remedies—such as self-help seminars, New Age theories, meditation and yoga,” The Wall Street Journal reports.
“A controversial swap that will result in the return to Lebanon of five convicted killers will go ahead even though two Israeli soldiers abducted and dragged into Lebanon by Hezbollah two years ago are known to be dead, Israeli Prime Minister Ehud Olmert said Sunday,” according to the Vancouver Sun.
The AFP reports that, “China has ordered ‘rioters’ to surrender following violent protests by 10,000 residents of a southern county angry over the alleged rape and murder of a local girl, a dissident website said on Monday.”
"The presidential campaign turned personal on Monday as John McCain's camp offered an unusually sharp and vigorous defense against attacks on the relevance of his military experience to national leadership, and as Senator Barack Obama attacked head-on the persistent rumors that his loyalties to the country are doubtful," according to The New York Times.
Ill. Sen. Barack Obama is looking into more than two dozen potential vice presidential candidates, while Ariz. Sen. John McCain has an equally long list. “Never in modern memory have so many eminent people been mentioned for a job that has been compared—unfavorably—to a bucket of warm spit,” according to the Los Angeles Times.
"The Pentagon has charged a Guantanamo Bay detainee with planning and participating in the October 2000 attack on the USS Cole," according to ABC News. The Saudi 'Abd al-Rahim al-Nashiri is charged with the attack that killed 17 sailors, and injured another 47.
A recent conflict between the Defense Department and the Environmental Protection Agency is part of a “standoff between the Pentagon and environmental regulators that has been building during the Bush administration, leaving the EPA in a legal limbo as it addresses growing concerns about contaminants on military bases that are seeping into drinking water aquifers and soil."
“A 19-year-old man accused of running down a Prince George's County police officer died yesterday in custody, less than 36 hours after he was charged in connection with the slaying,” according to The Washington Post. “White's death follows a series of problems for the county's correctional center.”
"The most powerful atom-smasher ever built could make some bizarre discoveries, such as invisible matter or extra dimensions in space, after it is switched on in August," the AP reports. "But some critics fear the Large Hadron Collider could exceed physicists' wildest conjectures: Will it spawn a black hole that could swallow Earth?"
Reuters writes: “While fewer youths are trying cigarettes for the first time, overall smoking rates stayed stable at just under 22 percent for students aged 14 to 18 between 2003 and 2007, the U.S. Centers for Disease Control and Prevention reported.”
“Hollywood's largest actors union remains split with studios over how performers are compensated for DVDs and products they promote in shows as their contract expires at midnight tonight,” according to Bloomberg.com.
An AP article entitled, "Giraffe helps camels, zebras escape from circus" reported that a giraffe kicked a hole in the cage of other animals at a Dutch circus, allowing them to make their getaway. They were brought back to the circus after several hours of wandering through a nearby town.