Music legend Donna Summer, known by many as the Queen of Disco, has died. The five-time Grammy Award winner died Thursday at the age of 63 in Florida. Those close to her say she had been battling lung cancer for some time but had tried to keep her illness private. Summer rose to stardom in […]
‘Queen of Disco’ Donna Summer Loses Battle with Cancer
Posted May 17th, 2012 at 7:40 pm (UTC-5)
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President Obama Focusing on African Food Security
Posted May 17th, 2012 at 7:10 pm (UTC-5)
U.S. President Barack Obama is focusing on African food security Friday in Washington, and also highlighting it at the upcoming Group of Eight meeting. The president is scheduled to speak to African leaders at a summit on food security Friday. Friday’s new initiative is expected to target 50 million food-insecure people by boosting agricultural investments. […]
Moody’s Downgrades 16 Spanish Banks
Posted May 17th, 2012 at 6:45 pm (UTC-5)
Moody’s Investors Service has cut the debt ratings of 16 Spanish banks by one to three notches, citing the effects of the ongoing recession and the reduced creditworthiness of the Spanish government. Thursday’s action affects the leading Santander bank as well as the second largest BBVA bank. Two other large banks, Banesto and CaixaBank, were […]
US: China is Dumping Solar Panels on US Market
Posted May 17th, 2012 at 6:00 pm (UTC-5)
The Obama administration says China is dumping solar panels into U.S. markets. The Commerce Department said Thursday it plans to impose tariffs as high as 31 percent on Chinese exporters. This would be on top of previous tariffs because of what the United States calls unfair Chinese government subsidies for solar power equipment. U.S. officials […]
US Envoy to Israel: Military Option for Iran ‘Ready’ if Necessary
Posted May 17th, 2012 at 5:30 pm (UTC-5)
The U.S. envoy to Israel said this week that Washington is willing to use military force if necessary to stop Iran from obtaining a nuclear weapon and already has plans in place for a possible attack. Ambassador Daniel Shapiro told members of Israel’s Bar Association “it would be preferable to resolve this diplomatically and through […]
Facebook IPO to be $38 Per Share
Posted May 17th, 2012 at 5:15 pm (UTC-5)
Shares in Facebook, the world’s biggest social media website, will begin trading Friday at $38 apiece on the Nasdaq Stock Exchange. Facebook’s initial public offering — the opening price at which average investors can buy a share — will raise about $16 billion, making it the most lucrative IPO in history. Some analysts expect millions […]
Obama Hosting Leaders for G-8, NATO Summits
Posted May 17th, 2012 at 5:00 pm (UTC-5)
U.S. President Barack Obama is hosting world leaders for back-to-back summits where Afghanistan, Iran and world economies are expected to be discussed. U.S. National Security Advisor Tom Donilon briefed reporters on the G-8 meeting taking place outside Washington Friday and Saturday, and the NATO summit in Chicago on Sunday and Monday. He says the world […]
US Suspends Economic Sanctions on Burma
Posted May 17th, 2012 at 4:55 pm (UTC-5)
The United States has suspended economic sanctions against Burma, which have banned American investment in the country for the last 15 years. U.S. Secretary of State Hillary Clinton made the announcement Thursday in Washington alongside visiting Burmese Foreign Minister U Wunna Maung Lwin. She said that Derek Mitchell, the State Department’s special representative to Burma, […]
Greek Eurozone Exit Could Reverberate Globally
Posted May 17th, 2012 at 4:00 pm (UTC-5)
The Greek economy accounts for just 2 percent of the economy in the 17-nation euro currency union, but if Athens exits the eurozone, the reverberations could be felt throughout the world. No country has quit the eurozone in its 13-year existence, but European leaders and financial analysts are now openly speculating that Greece could be […]
Leader of Syria’s Fragmented Opposition to Resign
Posted May 17th, 2012 at 3:40 pm (UTC-5)
Syria’s fragmented opposition has suffered a further setback, with the newly re-elected head of the main exiled coalition offering to resign due to criticism of his leadership and infighting that has plagued groups trying to oust President Bashar al-Assad. Syrian National Council chief Burhan Ghalioun said Thursday he does not want to be a cause […]
