Saturday, 14 February 2009


Venezuelans rally ahead of poll: Tens of thousands of Venezuelans have gathered in Caracas for pro-government and opposition rallies before a referendum that could allow Hugo Chavez, the president, to seek re-election indefinitely.

US judges admit taking kickbacks: Two US judges charged with taking more than $2m (£1.4m) in kickbacks from a privately-run detention centre have pleaded guilty to fraud.

Economic crisis 'top threat to US': Several countries in South America, Africa and the former Soviet Union were unprepared for economic crises and risked "regime-threatening stability" if the situation were to persist.

Eurozone economies slow sharply: This is the region's third quarterly contraction in a row and represents the Eurozone's sharpest slump since the euro was created in 1999.

Crisis sends French new poor flocking to food banks: The world financial crisis is forcing more and more once relatively comfortable French workers to seek out charity food banks and soup kitchens to get a free hot meal.

Hunger in Australia: 15% of Australian children live in jobless households and this figure has increased by 30% in the last 20 years - In Australia over a million children don't get enough to eat

Food banks forced to partner with farms, fishermen: As traditional sources of donations dry up and demand rises amid a worsening recession, food banks and their volunteers are finding creative ways to make the best of a growing challenge--while the hungry try to make less food go further.

Ailing Banks May Require More Aid to Keep Solvent: A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, they say. The banks, in their view, are insolvent.

U.S. 4th-quarter housing prices fall 12% from 2007: Home prices nationally dropped 12% in the fourth quarter, the most on record, amid foreclosures and a recession that pushed buyers out of the market.

How Banks Are Worsening the Foreclosure Crisis: The bad mortgages that got the current financial crisis started have produced a terrifying wave of home foreclosures. Unless the foreclosure surge eases, even the most extravagant federal stimulus spending won't spur an economic recovery.

Stimulus: How it may affect your wallet: Here's a look at some of the provisions that will have a direct effect on individuals in their paychecks, on their tax returns, and with regard to their unemployment benefits and health insurance if they've lost a job.