Global News (04/10/09)

US military blew up pigs to test body armour (Telegraph):
American military researchers have blown up live pigs dressed in body armour in an attempt to study the link between roadside bomb blasts and brain injury.

Fed Said to Order Banks to Stay Mum on ‘Stress Test’ Results (Bloomberg)

IMF: German economy to contract by 5% in ‘09 (Inquirer):
BERLIN — The International Monetary Fund (IMF) now sees the German economy shrinking 5.0 percent this year, a sharp downward revision from the 2.5 percent contraction forecast in January, the weekly Der Spiegel reported Friday.

The dark side of Dubai (Independent):
Dubai was meant to be a Middle-Eastern Shangri-La, a glittering monument to Arab enterprise and western capitalism. But as hard times arrive in the city state that rose from the desert sands, an uglier story is emerging.

Russia furious with EU over Twitter revolution (Independent):
Moscow backs Moldovan President after he accuses Romania of supporting coup

GM, Chrysler Ratings Are Cut by S&P as Deadlines Loom (Bloomberg):
April 10 (Bloomberg) — General Motors Corp. and Chrysler LLC had ratings cut on some of their debt by Standard & Poor’s as the automakers face government deadlines to restructure or file for bankruptcy.

Microsoft fined $388 million over patent breach (Times Online)

EU warns China over increasing steel exports (Telegraph):
A simmering trade conflict between Europe and China is nearing the boil as state-supported Chinese steel companies ramp up capacity despite drastic cuts by the rest of the world.

Aso’s $153 Billion Boost to Japan Economy May Incur `Massive’ Future Cost (Bloomberg):
“Aso is very optimistic” on that jobs creation number when you compare it with Obama’s plan, Daley said. “When you throw $150 billion at an economy in one year, you will see an effect. It will not be long term, nor sustainable.”

Obama to Push Immigration Bill as One Priority (New York Times)

Gold price to break $1000 as people scrap gold jewellery for cash (Telegraph):
Gold may reach a record this year as demand for a hedge against inflation outpaces an expanding scrap supply and weaker usage by jewellers, according to researcher GFMS.

U.S. Budget Gap Swells to $192.3 Billion as Recession Reduces Tax Revenue (Bloomberg)

Fed downgrades view of economy (Times Online)

Obama Orders U.S. to Buy 17,600 New Cars by June 1 (Bloomberg)

Royal Mint is warned that one in 20 £1 coins is fake (Independent):
BBC study finds fake rate is twice as high as first thought

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