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Global concern over Standard and Poor's US credit rating downgrade

In Australia, Prime Minister Julia Gillard urged calm over the S&P downgrade, pointing out that "the other two major ratings agencies, Moody's and Fitch, continue to have the American economy rated at AAA."

Thousands in Madrid march against police

Thousands of protesters have gathered in Madrid to demonstrate against use of force by police. According to AFP, at least 20 people were injured when riot police late on Thursday charged demonstrators who had gathered outside the interior ministry after trying unsuccessfully to gain access to Madrid's Puerta del Sol square.

S&P downgrades U.S. credit rating

Until Friday, the U.S. had never fallen below AAA, the S&P’s top credit ranking, since the agency first issued the rating in 1941.

Consumer borrowing jumps in June

U.S.: Boehner walks away from debt ceiling talks with Obama

Boehner said he would negotiate directly with Senate leaders to try to find a compromise by the Aug. 2 deadline to avert the U.S. government defaulting

Challenges ahead as Lagarde begins IMF role

France 24 said Lagarde would also be looking to make more room for emerging economies at the IMF, and to establish her legitimacy in her new position, despite the fact she is not a trained economist.

Earth to euro zone: do something

BERLIN — So what should Europe’s politicians be doing?

Tens of thousands of Spaniards protest, with a decidedly anti-Brussels tone (VIDEO)

After three years of economic recession and stagnation in Spain, there is widespread discontent about the severe austerity measures, with many people saying they are bearing the brunt of the fallout from a financial crisis that was created by governments, big banks and wealthy developers

Letter from Iceland

REYKJAVIK — The boom years all seem like a strange dream now that reality has barged its way back to this island nation.
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