Dubai gets surprise Abu Dhabi bailout
Dubai announces it has been given a $10bn handout from UAE neighbour Abu Dhabi to help it pay off its debts.
Drug money saved banks in global crisis, claims UN advisor --Drugs and crime chief says $352bn in criminal proceeds was effectively laundered by financial institutions Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer. Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.
Senate passes 1.1T year-end spending bill The Senate on Sunday passed a $1.1 trillion spending bill with increased budgets for vast areas of the federal government including health, education, law enforcement and veterans' programs. The 1,000-page-plus package, one of the last essential chores of Congress this year, passed 57-35 and now goes to President Obama for his signature.
Tony Blair to Testify Publicly About Bogus Intel Used to Justify Iraq Invasion - The Iraq war inquiry has insisted that Tony Blair will be questioned "very much in public." The statement follows claims that key evidence from the former ...
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