Venezuela President Hugo Chavez declares himself 'largely recovered'


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'Son of star wars' base in Yorkshire finally ready to open

Peace campaigners slam secrecy over $10bn Menwith Hill project that puts UK in line of fire A "star wars" inspired defence shield that will alert the US to the launch of ballistic missiles is expected to be operational from a North Yorkshire airbase before the end of the year. The Space Based Infrared System is seen as the successor to Ronald Reagan's unrealised "star wars" programme, which would have detected Soviet missiles and shot them down using lasers. The new system, which has cost more than $10bn, has taken almost two decades to build and has been subject to numerous delays and cost overruns. The imminent completion of the project at the RAF Menwith Hill base near Harrogate has revived fears that space is in danger of becoming militarised, with Britain in the vanguard. "I find this disturbing to say the least," said a local Labour MP, Fabian Hamilton. "It's as if they are saying this is a place in the US and you are foreigners. But ha...
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European debt crisis: 29 November 2011

Italians raise 7.5bn at more than 7% Euro group meeting to hammer out details of bailout fund Will they? Won't they? S&P mulls France downgrade Today's agenda Lunchtime round-up 7.38pm: Time to go. Good night and thanks for all your comments. 7.35pm: Reuters is reporting, citing an EU diplomat, that eurozone finance ministers agreed to release an 8bn aid payment to Greece which is part of the 110bn bailout package. It is the sixth instalment of loans. 6.49pm: This just in from David Gow : Eurozone officials are ignoring the doomsayers and talking up prospects for the EFSF, claiming that investors are still showing keen interest in it. None, apparently, has asked for more than 30% first-loss guarantee on their investment in loans to distressed countries - and the geographical spread is good. It's also claimed that the spread of investors, from hedge funds to sovereign wealth funds, is excellent. And, in a new twist, the investments could be tailored both to indiv...
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As China Rolls Ahead, Fear Follows

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As China Rolls Ahead, Fear Follows - China kept economy growing in past couple of years by printing money. Now it's feeling consequences. Inflation in consumer prices, speculative bubble in property. Milk dearer in Shanghai than in New York Agence France-Presse — Getty Images China is looking to restructure its economy away from dependence on exports like textiles. For nearly two years, China’s turbocharged economy has raced ahead with the aid of a huge government stimulus program and aggressive lending by state-run banks. But a growing number of economists now worry that China — the world’s fastest growing economy and a pillar of strength during the global financial crisis — could be stalled next year by soaring inflation, mounting government debt and asset bubbles. Two credit ratings agencies, Moody’s and Fitch Ratings , say China is still poised for growth, yet they have also recently warned about hidden risks in its banking system. Fitch even hinted at the ...
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