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Entries for August 2008

Why McCain Picked Palin
John McCain needs to persuade conservatives that he isn't squishy about social issues, he needs to close the gender gap. She's a fresh face to counteract Obama's message of change, and she's about as far outside the Beltway as you can get.

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"date with destiny" in Denver, what will change mean to us?
It was to be a date with destiny in front of 85,000 Denver, to accept the Democratic nomination for President of the US, this is Obama's big moment. Obama in a matter of a few months has already pulled off two of the probably the most watched political events globally.

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Banks face double property crash - Reuters UK
The consumers are borrowed to the hilt and the banking sector is no longer able to provide the consumer with credit. Unless they want to see a major collapse in the financial sector, the government will have to fund the difference and borrow a lot more."

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OPEC's reserves put at 900 billion barrels
The new estimates on oil reserves for Opec puts the oil rich regions at a much better position to attract fresh investments from both local and global investors. The bulk of OPEC oil reserves is located in the Middle East, with Saudi Arabia, Iran and Iraq contributing 55 percent ...

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Former IMF Chief  Warns - Credit crunch may take out large US bank
Continued problems in financial sector, could trigger the failure of a large US bank within months, a respected former chief economist of the International Monetary Fund claimed today, fuelling another battering for banking shares.

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New Investors entering the market due to UK property downturn
The upper end of the market is suffering more. However, whilst the number of British investors is declining the Russians, Dutch and Scandinavians and Middle Eastern Investors have no such qualms. Many are buying on the French Riviera, in the south of Cyprus and the Costa del Sol ...

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Other News

London Transport and Virgin Media have named first 80 busiest and major underground stations in London which are all set to receive Wi-Fi services for the Olympics season. Destinations including London Bridge, Oxford Circus, Leicester Square, Mile End, Tower Hill, Tufnell Park, Goodge Street, King’s Cross, Oval, Borough and Victoria are on the list to turn into accessible Wi-Fi hotspots.

The UK economy shrank for the last three months of 2011 - BCC predicts that growth will be flat this year , with one quarter of contraction, but says a full-blown recession is not inevitable if the government acts. It showed that in October, the service sector contracted by (a revised) 0.6%, while in November it grew by 0.6%.

Peacocks chief executive expected to lodge rescue offer for stricken fashion chain, while Past Times is closing 46 stores with the loss of 574 jobs. Peacock employs more than 400 at its Cardiff HQ and nearly 10,000 more across the UK.

Halifax index also shows a 0.9% decline in December 2011 and predicts a broadly stable 2012 … providing the UK can avoid the recession. The price of the average house in the UK is now just over £160,000, said the bank, thanks to a 0.9% fall in prices in December 2011 and a 1.3% drop over the whole of the year.

Europe’s worst financial crisis in generations is forging a new European Union, pushing Britain to the sidelines and creating a more integrated, fiscally disciplined core of nations under the auspices of a resurgent Germany.