The Moroccan army attacked Gdeim Izik refugee camp this week which houses 20,000 people in West Sahara. Many people have died and many others are reported missing. The November 8, 2010 raid and...
Britain's third-largest banking group joins government scheme to insure toxic assets. Lloyds Banking Group has become the latest U.K. bank to fall under government control since the run onNorthern Rock in September 2007. The U.K.'s third-largest bank confirmed Saturday that the government is raising its stake to at least 65%, and possibly as high as 77%, in return for insuring $367 billion dollars in toxic assets. The bank has also promised to increase its lending, primarily to businesses, by $39 billion over the next two years.
Despite Twitter's success in the U.S., the three-year-old company's service hasn't caught on in Europe. According to Twitter's search tool, Twitter Scan, there is one account under Tesco, the U.K.'s largest retailer, but it has only one outside comment so far. The same goes for financial services firm HSBC, which has 18 followers but no status updates. Most European companies haven't even heard of Twitter, and some might think it's a time waster. A spokeswoman for energy firm Total says that Chief Executive Christophe de Margerie has no idea what Twitter is. British Telecom says it doesn't have a Twitter account and doesn't plan to open one. Nestle's communications manager says using Twitter "just never came up within the group strategy." In general, experts say Europeans don't latch on to new social networking technologies as quickly as Americans.
Chancellor Angela Merkel's center-right Christian Democrats party was scheduled to meet with its allies, the conservative Christian Social Union and the left-of-center Social Democrats on Monday about a second fiscal package worth 25.0 billion euro ($34.2 billion), to be announced later this month. The government launched a 31.0 billion euro ($42.5 billion) stimulus package last year, which has since been criticized for being inadequate--economists are widely reported to have said that only a third of that figure represents new spending in 2009.