Swiss bank USB has announced it is cutting 3,500 jobs worldwide, in the bank’s latest effort to save $2.5 billion annually by 2013. USB’s investment bank unit will see 1,600 jobs eliminated – about 45 percent of the total expected job cuts. The banking giant has 65,000 worldwide employees located in more than 50 countries. […]
Kim Jong Il Visits Lakeside Village Ahead of Medvedev Summit
Posted August 23rd, 2011 at 11:25 am (UTC-5)
North Korean leader Kim Jong Il has arrived at a lakeside city in Siberia, where Russian news agencies say he has begun a day of sight-seeing ahead of a summit Wednesday with President Dmitry Medvedev. Russia’s Itar-Tass news agency said a motorcade took Mr. Kim from the train station in Ulan-Ude to a village on […]
Two Killed in Clash at Indonesia Oil Field
Posted August 23rd, 2011 at 11:10 am (UTC-5)
Indonesian police say two people were killed in clashes at a state-run oil well in Central Sulawesi province. Police say several people were injured in the melee, and many others were arrested. Officials say the clashes began Saturday when dozens of local residents stormed the facility armed with machetes and Molotov cocktails. At last report, […]
Afghans Protest Decision to Oust Lawmakers
Posted August 23rd, 2011 at 11:10 am (UTC-5)
Hundreds of Afghans marched in Kabul Tuesday to protest a decision by the nation’s Independent Election Commission to replace nine lawmakers because of allegations of voter fraud. The protesters rallied outside the offices of the United Nations Assistance Mission in Afghanistan, chanting anti-U.N. slogans. UNAMA issued a statement earlier in the day in support of […]
Syrian Activists Form Opposition Coalition
Posted August 23rd, 2011 at 10:50 am (UTC-5)
Opponents of Syrian President Bashar al-Assad have formed a “national council” that they say will coordinate efforts to oust the embattled leader. Activists meeting in Turkey announced the group’s formation on Tuesday, but they provided few details on the group’s make-up. Meanwhile, U.S. ambassador Robert Ford has made a surprise visit to the Syrian town […]
US Stocks Advance in Early Trading Tuesday
Posted August 23rd, 2011 at 10:40 am (UTC-5)
U.S. stock indexes moved sharply higher in early trading Tuesday. The Dow Jones Industrial Average is up 1.3 percent, with the broader S & P 500 advancing 1.4 percent. The NASDAQ is ahead by 1.8 percent. European stocks also advanced in afternoon trading. London’s Financial Times index is up two-tenths of one percent. The CAC […]
Indian PM Calls on Anti-Corruption Activist to End Hunger Strike
Posted August 23rd, 2011 at 10:35 am (UTC-5)
India’s Prime Minister Manmohan Singh has called on activist Anna Hazare to end his hunger strike being conducted to call for tougher anti-corruption legislation. Mr. Singh made the appeal in a letter released Tuesday. Government officials plan an all-party meeting on Wednesday to discuss the standoff. Hazare’s fast, meant to spur parliament toward passing tougher […]
Sudan Seeks Cease-Fire in Southern Kordofan
Posted August 23rd, 2011 at 10:34 am (UTC-5)
Sudan’s president has called a two-week, unilateral cease-fire in Southern Kordofan state, where government forces are accused of committing atrocities against civilians. Speaking Tuesday in Kadugli, capital of the border state, President Omar al-Bashir said the situation on the ground would be assessed after the truce. U.N. agencies are due to begin a fact-finding mission […]
2 Germans Reported Missing in Afghanistan
Posted August 23rd, 2011 at 10:32 am (UTC-5)
Two German citizens have been reported missing in Afghanistan, and officials say they may have been kidnapped. German Foreign Minister Guido Westerwelle told reporters Tuesday that authorities are searching intensively for the pair. He said the government is following up on indications the two may have been abducted. Westerwelle did not give further details about […]
Oil Giants Look to Resume Libyan Production
Posted August 23rd, 2011 at 10:25 am (UTC-5)
Major global oil companies say they are looking to soon reopen their Libyan oil fields if rebel forces complete their takeover of the country, but estimates vary widely on how easily or quickly that could occur. Before the Libyan uprising started in February, the North African nation produced as much as 1.8 million barrels of […]
