China responds to US plan for import quotas

Tuesday, April 5, 2005 China is questioning a decision by the U.S. Commerce Department that seeks to re-impose trade quotas on Chinese textiles. The three-decade long system of quotas was lifted on January 1. “This is not reasonable,” Foreign Ministry spokesman Qin Gang told reporters. “This is unfair. This is protectionist.” The U.S. administration justified their decision by presenting data […]

US B-2 bomber crash in Guam caused by moisture on sensors

Friday, June 6, 2008 The final report into the crash of a B-2 Spirit bomber belonging to the United States Air Force (USAF) in Guam has determined that the crash was caused by moisture on sensors which caused the jet to receive inaccurate data. It was the first loss of a B-2, which costs US$1.4 billion. The aircraft, belonging to […]

Global markets surge in value

Monday, October 13, 2008 Markets worldwide have surged in value following efforts by governments to ease the effect of the ongoing financial crisis, which has recently caused a massive decline in the value of stock markets. On Sunday, the fifteen countries from the Eurogroup – that is, those countries which use the euro as official currency – had agreed on […]