Global News (01/30/09)

Japanese economy hit by “perfect storm” (Telegraph):
The indicators were so bad that analysts have described it as the day the “perfect storm” came ashore.

Japan heads for worst recession since the second world war (Guardian)

Global Worries Over US Stimulus Spending (New York Times)

US set for ‘big bang’ financial clean-up (Financial Times)

U.S. Economy Shrinks at 3.8% Pace, Most in 26 Years, as Spending Crumbles (Bloomberg)

Stocks in U.S. Retreat, Extending Losses in S&P 500’s Worst-Ever January (Bloomberg)

Barack Obama abandons Afghan President Hamid Karzai (Telegraph):
The Barack Obama administration has abandoned Afghan President Hamid Karzai and now believes he is a major obstacle to defeating the Taliban-led insurgency.

Saddam’s hometown unveils statue dedicated to man who threw shoe at President Bush (New York Daily News)

Germany plans individual ‘bad banks’ (Financial Times)

Toyota set to post first net loss since 1963 (Guardian)

Zimbabwe abandons its currency (BBC News)

Opec warns of further oil output cuts (Guardian):
Oil producers’ cartel tells World Economic Forum its members need a higher price if they are to have sufficient income to invest

Mobs arrested as rioters call for ‘Sarko out’ (This is London)

Strikes spread across Britain as oil refinery protest escalates (Guardian)

‘British jobs for British workers’: Wildcat strikes spread over foreign workers shipped into the UK (Daily Mail)

Up against basic principle of EU law (Independent)

Debt has become a drug. Withdrawal will be painful (Guardian)

Pakistan envoy suggests India faked Mumbai transcripts (Times Online)

Florida beans and corn destroyed, potatoes delayed (The Packer):
“All of our beans were wiped out,” said Bryan Biederman, assistant sales manager for Pioneer Growers Co-op, one of the region’s largest growers of beans and corn. “Any corn we had planted for the month of March has been wiped out. It was truly a setback for our winter program.”

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