News Headlines - 05 July 2011

▽Moody’s warns of second rescue for Portugal - Financial Times
Portugal could require a second, Greek-style bailout involving private investors, Moody’s ratings agency has warned as it downgraded the struggling country to “junk” on fears it will struggle to meet its current targets and will remain unable to borrow from the bond markets for some time.

▽German court hears case against bail-outs - Financial Times
Berlin’s crucial contribution to Europe’s emergency finance for Greece faces a legal challenge in Germany’s highest court, where key officials arrived on Tuesday anxious to avoid any developments that might spook nervous bond markets.

▽Services sector grows but companies still not hiring - Telegraph.co.uk
Growth in Britain's vast services sector improved last month but companies are still not hiring, raising fears the private sector will not pick up the slack from public sector cuts.

▽Oil and gas spills in North Sea every week, papers reveal - The Guardian
Serious spills of oil and gas from North Sea platforms are occurring at the rate of one a week, undermining oil companies' claims to be doing everything possible to improve the safety of rigs.

▽UK seeks stronger cyber laws to fight attacks - Reuters
The fight against cyber crime needs a stronger common international legal framework to enable perpetrators outside the country of their victims to be tracked down and punished, a British security official said on Tuesday.







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