World News

Income Inequality is causing a problem.


World Economic ForumThe World Economic Forum is taking place in Davos-Klosters in Switzerland this week on 21st until 24th January 2015.  Our own Taoiseach, Enda Kenny, is speaking at it.


You can see a video at the end of this article.  Go to 6.15 and 38.30 for Mr Kenny.  There are five reports for you to download at the end of the article just above my photo.


The Global Agenda 2015 features an analysis of the Top 10 trends which will preoccupy experts for the next 12-18 months as well as the key challenges facing the world’s regions, an overview of global leadership and governance, and the emerging issues that will define our future.  The 10 trends are:


 An intriguing story of real life money – big money.

Argentinean President Cristina Fernández de KirchnerOnce upon a time, Ireland borrowed €86 Billion. It bailed out banks, propped up the economy, paid for the overspending in the public service and generally kept the country afloat.  It has met all its repayments and is choosing not to default on anyone.


Eaten bread is quickly forgotten.

Londoner Schuldenabkommen. London Debt Agreement 1953Once upon a time, 1953 to be exact (the year I was born), Germany owed 32 Billion Marks from before the second World War (in fact as a result of the First World War) and after it, to governments and private sources. 

Between 27th February and 8th August 1953, there were discussions to try to reduce that debt.  The 26 parties that were involved included Belgium, Canada, Denmark, France, Great Britain, Greece, Iran, Ireland, Italy, Liechtenstein, Luxembourg, Norway, Spain, Sweden, Switzerland, South Africa, the United States, and Yugoslavia and others. The states of the Eastern Bloc were not involved.

Intel and EUToday 12th June 2014, Chip Giant Intel lost its €1.06 billion ($1.44 billion) antitrust fine when the General Court of the European Union upheld a 2009 ruling by the European Commission that the company had abused its dominant market position and blocked its main rival AMD – Advanced Micro Devices.

A Ukranian soldier tries to persuade Russian troops to move away from a Ukrainian military base in Balaklava, Crimea on Saturday. Photograph: Anton Pedko/EPAThe crisis in Crimea has caused more than just tensions in the area. 

The world’s 300 richest people, made up by many Russians and Ukrainians, lost over $44.4 billion after the stock exchanges collapsed yesterday, Monday 3rd March.

Bloomberg's Billionaires Index shows the wealth of Russia's tycoons shrank by $13 billion within 24 hours last Monday, 3rd March.  This index is a daily ranking of the richest people on Earth.

This is the full text of the statement from Microsoft about their buyout of Nokia devices.  

Microsoft Corporation and Nokia Corporation today announced that the Boards of Directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia’s Devices & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.

IBM was a has-been in 1994. Fujitsu, Digital Equipment, and Compaq were hammering down its margins and stealing profits. EDS and Andersen Consulting were stealing the hearts of CIOs. Intel and Microsoft were running away with PC profits. Customers bemoaned Big Blue's arrogance. 

Today, IBM is an e-business powerhouse. Big Blue is back on top, a leader in e-business services. The company, which lagged behind every computer trend since the mainframe, caught the Internet wave. By 1999, it had completed 18,000 e-business consulting engagements. One-fourth of its $82 billion in revenues originated from the Internet. 

Liberty Reserve, a currency digital exchange company in the US, has had an indictment filed against its operators last Friday. 

They have been accused of helping criminals around the world launder more than $6 billion in illicit funds linked to everything from child pornography to software for hacking into banks.  It has been termed the PayPal for criminals.

uropean flagsRome was not built in a day—and neither was Europe.

We have come a long way since the Treaty of Rome was signed in 1957 to start unifying Europe. Nevertheless, when we speak of Europe, we still refer to individual countries far more often than to a united continent. Our European identity isn’t one we wear comfortably. We introduce ourselves by saying, “I’m Hungarian or French or Polish.” Rarely will you hear, “I’m European.”


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