News Headlines - 29 May 2012

▽At least eight dead as Italy is struck by 5.8 earthquake in same area where seven killed by tremor last week - Daily Mail 
At least eight people have died after Northern Italy was this morning hit by another earthquake - a week after a tremor in the region killed seven people and destroyed hundreds of buildings.   
Italian media said the latest earthquake caused more buildings to collapse in the areas already affected by the previous May 20 quake, where thousands are still sleeping outdoors in tents.

▽Spain moves closer to bailout as borrowing costs hit new records - The Independent
Spain seemed to be moving closer to an official bailout yesterday as the country's borrowing costs soared and doubts over the ability of the Madrid government to prop up its ravaged banking sector multiplied.
The yield on Spanish 10-year bonds rose to 6.48 per cent in trading, with the spread over Germany's 10-year borrowing costs hitting their highest levels since the foundation of the single currency at 505 basis points.

▽Annan meets Syrian president Assad - The Press Association
International envoy Kofi Annan is meeting Syrian President Bashar Assad to discuss the peace plan meant to end the country's 15-month-old crisis.

▽China and Japan to start direct yen-yuan trade in June - BBC
China will allow direct trading of the yuan and the Japanese yen, in a move aimed at promoting trade between Asia's two biggest economies.
This means the two countries will not be using the US dollar as an intermediary.

▽Phone Hacking: Guardian journalist and Met Police detective will not face charges - Telegraph.co.uk
"In this case, there is no evidence that the police officer was paid any money for the information he provided.
"Moreover, the information disclosed by the police officer, although confidential, was not highly sensitive. It did not expose anyone to a risk of injury or death. It did not compromise the investigation.







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