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News of the 08/22/2008

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Dollar rises vs Swiss franc in late trading
Analysis: Deficit spending is tough medicine
Russia, Ukraine take gas row case to Europe
    

UK loses prisoner data in latest computer stumble

  
In another embarrassing stumble with computerized data, Britain's government confirmed Thursday that a contractor lost a memory device containing information on every prison inmate in England and Wales.
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Chavez bashes executives of Mexico's Cemex

  
President Hugo Chavez lashed out at Mexican cement company Cemex on Thursday, calling its executives irresponsible and disrespectful after they vowed to seek international arbitration over the nationalization of their Venezuelan unit.
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NY police suspect duo in European graffiti spree

  
While other tourists were sightseeing in Europe this summer, Jim Clay Harper and Danielle Bremner spray-painted their way across the continent, police say.
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Georgia sees Russia scheming to stay longer

  
At the Russian-controlled roadblocks around Gori, the deadpan soldiers are firm but restrained, searching cars and checking identification, but not too rigorously.
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IPhone launches in India minus hysteria of the West

  
NEW DELHI (Reuters) - Apple Inc.'s hugely popular 3G iPhone made its debut in India on Friday, but with a price tag of $700 there was none of the mass hysteria that marked its launch in the United States, Europe and parts of Asia last month.
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Russia and West at odds over UN Georgia resolution

  
Russia and key Western nations remained at odds Thursday over a U.N. resolution aimed at bringing peace to Georgia, with the U.S., France and Britain insisting on immediate withdrawal of Russian troops and a commitment to Georgia's territorial integrity.
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Dollar rises against Swiss franc

  
The dollar was barely changed against the Swiss francs late Thursday night in New York. The U.S. currency was worth 1.0882 Swiss francs, just above the 1.0881 francs it bought in the late afternoon.
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Euro edges higher against dollar

  
The euro continued a slow but steady rise against the dollar on Friday, with disappointment over a pair of U.S. economic reports curtailing the dollar.
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Swiss arrest 1 in Alstom investigation raids

  
Swiss police searched premises linked to French engineering company Alstom SA and made one arrest as part of an investigation into suspected corruption and money laundering, federal prosecutors said Friday.
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UK's Rentokil 1H profit falls 82 percent

  
British services company Rentokil Initial PLC posted an 82 percent drop in first-half profit Friday, and said it could take as long as five years to recover to its target levels of profitability.
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3 US citizens ordered back to prison in Montenegro

  
A Montenegrin court said Friday it ordered three U.S. citizens and seven other ethnic Albanians back to prison after convicting them of plotting a rebellion to establish an Albanian autonomous region within the Adriatic country.
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French leader proposes vote on Afghanistan troops

  
France's prime minister has proposed a parliamentary vote on whether to keep French forces in Afghanistan, his office said Friday, as a new poll showed most of his compatriots want the troops pulled out after 10 died in a vicious ambush.
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