Panetta: cuts to defense spending would be 'disastrous' - Los Angeles Times
27 May 2012, 10:33 am
WASHINGTON -- Defense Secretary Leon Panetta warned Sunday that it would be “disastrous” for Congress to allow cuts in defense spending to take place as scheduled in January. In an interview that aired on ABC’s “This Week,” Panetta ...

Vietnam cuts Rates a Third Time as Inflation Hits 21-Month Low - Bloomberg
25 May 2012, 4:33 pm
Vietnam cut interest rates for the third straight month as policy makers stepped up efforts to bolster a struggling economy after inflation eased to the lowest since 2010. The State Bank of Vietnam’s refinancing rate will fall to 12 percent ...

Romney Argues Big Spending cuts Would Cause 'Depression,' Contrary To Tea Party Activists - Huffington Post
25 May 2012, 12:15 pm
Republican House Speaker John Boehner and GOP Presidential nominee Mitt Romney have, in the course of the past week, pushed starkly different approaches to fiscal policy and economic recovery, a window into a broader rift within the GOP between ...

Renesas Hits Record Low After Report of cuts: Tokyo Mover - Bloomberg
24 May 2012, 6:57 pm
Renesas Electronics Corp. (6723) fell to the lowest level on record after the company was said to be planning to eliminate 10,000 jobs and raise 100 billion yen ($1.3 billion) under the latest draft of a restructuring plan. The world’s biggest ...

US cuts Pakistan aid for jailing CIA helper - Aljazeera.com
24 May 2012, 4:55 pm
US senators outraged by Pakistan's jailing of a doctor for helping the CIA track down Osama bin Laden have voted to cut aid to Islamabad by $33mn - one million for each year in the doctor's sentence. "It's arbitrary, but the hope is that ...

Times-Picayune Confirms Staff cuts and 3-Day-a-Week Print Schedule - New York Times Blogs
24 May 2012, 11:05 am
1:14 p.m. | Updated The Times-Picayune newspaper in New Orleans confirmed on Thursday that it would cut back its print publishing schedule to three days a week and lay off an unknown number of staff members. In an article posted on its Web site ...

New Orleans Paper Said to Face Deep cuts and May Cut Back Publication - New York Times Blogs
23 May 2012, 10:40 pm
The New Orleans Times-Picayune, which distinguished itself amid great adversity during Hurricane Katrina and its aftermath, is about to enact large staff cuts and may cut back its daily print publishing schedule, according to two employees with ...

Senate Panel cuts Off Navy’s Biofuel Buys - Wired News
23 May 2012, 6:58 pm
The Navy’s ambitious renewable-energy plans aren’t sunk quite yet. But they took a major hit Thursday, when the Senate Armed Services Committee voted to all-but-ban the military from buying alternative fuels. The House Armed Services Committee passed a ...

World Bank cuts China forecast, urges measured policy - YAHOO!
23 May 2012, 12:29 am
BEIJING (Reuters) - The World Bank cut its economic growth forecast for China this year to 8.2 percent on Wednesday and urged the country to rely on easier fiscal policy that boosts consumption rather than state investment to lift activity. In a biannual ...

CBO says US likely to fall off 'fiscal cliff' if Bush-era tax cuts allowed to expire - FOX News
22 May 2012, 5:55 pm
WASHINGTON – A new government study released Tuesday says that allowing Bush-era tax cuts to expire and a scheduled round of automatic spending cuts to take effect would probably throw the economy into a recession. The Congressional Budget ...