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​Australia imposes new round of sanctions against Russia

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The Australian government on Monday unveiled further sanctions against Russian oil and gas, financial and defense sectors, bringing Canberra in line with the European Union. Under the new sanctions there will be no new arms exports and no new exports for the oil and gas industry, Prime Minister Tony Abbott told the Australian parliament. In addition, Russian... 

Australia’s Qantas airline reports $2.6 billion loss

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Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss of about 700... 

McDonald’s falls victim of US-Russian economic war

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Having closed several McDonald’s restaurants in Moscow, Russia’s Federal Service for Consumer Rights Protection (Rospotrebnadzor) launched unscheduled inspections of the restaurants of the chain in the Sverdlovsk region of Russia. According to representative of the agency, their actions are connected to complaints from local residents about the... 

US-EU sanctions on Russia counterproductive

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A political analyst says the tightening of sanctions by the United States and the European Union (EU) against Russia is “counterproductive,” Press TV reports. In an interview with Press TV, Jan Oberg said the US-EU move to impose sanctions against Russia over the Ukrainian tension is “self-defeating” as it harms the economy of the West as well. “I... 

Australian students rally against education budget cuts

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Hundreds of Australian students and union members have held nationwide protests against the government’s proposed plans to cut higher education budget. Student protesters descended on the streets of Sydney’s city center on Wednesday, setting fire to an effigy of Australian Education Minister Christopher Pyne as a sign of protest against the government’s... 

Russia seek import ban on ex-Soviet nations associating with EU

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A nationalist party MP is suggesting the Russian government introduce more restrictions on food imports, covering nations that have an association agreement with the EU, including Ukraine, Moldova and Georgia. Roman Khudyakov of the Liberal Democratic Party caucus of the State Duma has said that, since the association agreement with the European Union prepares... 

We don’t need permission to trade with Russia – Ecuador

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Ecuador doesn’t need anybody’s permission to export agricultural products to Russia, which now has a big gap that needs to be filled after it banned supplies from a number of western countries, said President Rafael Correa. “I want to immediately say that we don’t need to get anybody’s permission to sell products to friendly countries: as far as we... 

US company may face terrorism charges in Argentina

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The government of Argentina is ready to use an anti-terrorism law to seek criminal charges against a US-based international printing company, which unexpectedly closed its plant on the outskirts of Buenos Aires. Workers of RR Donnelley in the Argentinian capital came to work on Monday to be informed of the plant’s closure due to an “insurmountable crisis,”... 

EU infighting over Russia sanctions retaliation

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There is growing dissent in the EU over policies that led to a de fact trade war with Russia. Meanwhile the countries not toeing the line are reaping the benefits, irritating those who jumped on the sanctions bandwagon. Greek members of the European Parliament demanded Sunday that the EU cancel sanctions against Russia. MEPs Kostantinos Papadakis and Sotiris... 

Australia to impose tougher sanctions on Russia

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Australia says it is planning to impose tougher sanctions on Russia after Moscow announced food bans that will affect Australian food makers. “We are working towards stronger sanctions” against Russia, Australian Prime Minister Tony Abbott said on Friday. Abbott also warned Russia’s President Vladimir Putin to pull back Russian troops from the... 

Argentina economy not in default – Economy Minister

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Argentina’s Economy Minister Axel Kicillof says his country is not in default amid an ongoing debt row with US hedge funds. Ratings agency Fitch declared Argentina in “restrictive default” on Thursday after Buenos Aires failed to clinch a deal with representatives from the funds. Kicillof, however, said his country has not defaulted and that the Argentinean... 

India Shocks World, Joins Russia Against Obama Regime

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A new report prepared by the Ministry of Foreign Affairs (MoFA) circulating in the Kremlin states that India’s veto earlier today of a landmark World Trade Organization (WTO) treaty has “shocked the world” and could very well lead to the entire collapse of this Western led global organization that for past 66 years has, in essence, economically destroyed... 

Argentina placed into ‘default’ rating as debt deal deadline expires

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Argentina’s credit rating was downgraded to “selective default” by Standard & Poor’s as the South American country missed Wednesday’s deadline for a grace period during ongoing negotiations with holdout debt holders. Wednesday is the cutoff for Argentina to make good on a $539 million payment to bondholders, which was placed on hold by US judge... 

Italy’s unemployment at critical rate

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A recent study has shown that less than one out of two working-age Italians held a job last year, amid a decade-long employment crisis, Press TV reports. The study conducted by Bruno Trentin Association, linked to the Italian General Confederation of Labour (CGIL), found that Italy’s employment rate stood at almost 49 percent in 2013. The report also found... 

Microsoft to cut 18K jobs worldwide

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The US software giant Microsoft has announced plans to slash 18,000 jobs from its global workforce in 2015, the largest cuts in the company’s 39-year history. In a statement on Thursday, the company described the shakeup as part of its strategy to streamline business under new CEO Satya Nadella. Layoffs represent about 14 percent of the company’s workforce... 
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