While many countries have begun to enter a recovery phrase from the global recession, the U.S. economy continues to freefall.
According to Fox News, "America's economy shrank at a drastic 2.9 percent annual rate in the first quarter, a far more alarming picture than ones painted in two previous government estimates -- including one that actually claimed modest growth."
Howdy! Texas tops California as a wind energy producer. The Lone Star state has enjoyed more business success with renewable energy resources than any other state.
The Houston Chronicle reports that, "The installation of new transmission lines across Texas has reduced the amount of wind energy lost when wind turbines shut down because of line congestion, a federal agency reports. A $7 billion project completed last year laid 3,500 miles of new transmission lines linking the windy Panhandle and West Texas plains where turbines are most common with distant population centers."
Scandals continue to swirl around President Jonathan Goodluck of Nigeria. He faces a global public relations crisis over numerous girls who had been kidnapped by Muslim militants, Boko Haram. As it turns out, Nigerian Gen. Martin Agwai was responsible for Nigerian troop deployments to fight Boko Haram earlier, but he is haunted by a shady past.
According to AllAfrica.com, "President Goodluck Jonathan yesterday appointed Gen. Martin Luther Agwai (rtd) as the substantive chairman of the Subsidy Reinvestment and Empowerment Programme (SURE-P). Gen. Martin Agwai (rtd.) was until now the Deputy Chairman and Acting Chairman of SURE-P."
BREAKING NEWS: Former President Bill Clinton and Former Secretary of State Hillary Clinton claim that they speak to their neighbors. Yes, they insist they are not "out of touch" with ordinary citizens, because they hobnob with multi-millionaire locals in a wealthy suburb of New York City.
The Chicago Tribune reports that, "Former President Bill Clinton on Tuesday defended his wife’s modest depiction of the couple’s wealth, saying their affluence does not mean Hillary Rodham Clinton is out of touch with the concerns of average Americans. Speaking in Denver at an annual meeting of his philanthropic organization, Clinton said his wife was correct to state they were “dead broke” when the couple left the White House in 2000."
Samsung faces dire times as its revenues are dwindling for the second quarter this year.
According to the JoongAng Daily, "Samsung Electronics’ earnings forecast for the second quarter have continued to plunge, dragging the stock market down despite robust sales of the Galaxy S5. Ahead of the second-quarter earnings postings, attention has turned to Samsung Electronics’ performance and how much it will manage to recover from its first-quarter decline in profitability because of sluggish smartphone sales."
President Barry Obama's so-called sector sanctions against Moscow have sparked a renewed surge of the Russian economy.
The Voice of Russia reports that, "Russian President Vladimir Putin expects that Russia’s GDP growth would be higher than it was expected in 2014. "Last year, Russia’s GDP grew by not very much - 1.3%. This is slightly less than the year before, but still there was some growth. I think this year we will reach more significant figures than we predicted in the beginning of this year," Putin said at a meeting with Russian and Austrian business leaders in Vienna on Tuesday, reports Interfax."
BEIJING: New Delhi is negotiating a gas deal with Gazprom, which would connect a natural gas pipeline from Russia that would run through China's Xinjiang region and flow to Indian power plants.
According to the Voice of Russia, "India intends to hold negotiations, concerning the extension of a gas pipeline from Russia through China to the Indian border, Indian newspaper Financial Express says, citing the source. The issue may be discussed during BRICS summit in July. The negotiations may be continued during the visit of Russian President Vladimir Putin in India, in the end of the year. India's Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has already discussed the issue with his Russian colleague Aleksandr Novak during the most recent World Petroleum Congress in Moscow, Financial Express says. Russia hasn't commented on the issue yet."
The Muslim militant terrorist organization, The Islamic State of Syria (ISIS), is recruiting children to wage jihad and suicide bombing campaigns in the Middle East.
The Voice of Russia reports that, "Syrian rebel groups are recruiting 15-year-old children to battle against the government forces after promising them a free education, says a Human Rights Watch report, released on June, 23. Worse still, those groups are strongly backed by the US and Israel, US political commentator told Radio VR."
All South Korean drivers will be required to pay as much as $2,400 in annual carbon taxes starting in 2015.
The JoongAng Daily reports that, "The price of a car sold in Korea could rise by a maximum of 2.43 million won ($2,386) in 2020 if the new carbon tax on vehicles goes into effect next year, according to a report released by the Korea Economic Research Institute (KERI) yesterday."
BEIJING: While US Secretary of State John Kerry is refusing to claim responsibility for turmoil in the Middle East, Chinese officials have already shut down 32 terror cells in China's northwest region of Xinjiang.
According to China Radio International, "It's been a month since a massive police crackdown on terrorism began in Xinjiang. CRI's Cao Yuwei has more on the results of the operations so far. Wang Qianrong is the deputy head of the regional public security department."