Obama: GOP economic plan 'trickle down fairy dust' - Chicago Tribune
China consumers counter economy gloom with travel boom
BEIJING (Reuters) – Soaring numbers of Chinese tourists packed onto flights out of the country is a sure sign that a fast-growing consumer class of around 130 million is not worried that the likely slowest year of economic growth since 1999 will sap their spending power. Nearly 39 million mainlanders left China on overseas trips in the first half of 2012, roughly double on five years ago and evidence that a powerful consumer force – envisaged by the top leadership as the engine of economic expansion in a generation to come – may be bulking up faster than thought. …
Analysis: China's sway over Cambodia tests Southeast Asian unity
PHNOM PENH (Reuters) – Students in their twenties sit behind old wooden desks in Cambodia’s capital, Phnom Penh, scribbling away as a teacher barks out phrases in a foreign language above the roar of motorcycles outside. Unlike in most other countries in the region, the students at this private language school and others nearby are not learning English — it’s Chinese. Along the street, signs with golden Chinese letters on newly painted red-and-yellow buildings offer cheap crash courses in Mandarin. …
London calling, Games end with music extravaganza
LONDON (Reuters) – London Olympic organisers promised an unforgettable party to close the 2012 Games and they pulled out all the stops to make it a night to remember with Britain stamped all over it. The 80,000-seat Olympic Stadium that has witnessed tears and triumphs over the past week was transformed into a mini-London, with model landmarks including Tower Bridge and St Paul's Cathedral dotted across a Union Jack shaped stage. The ceremony opened with nine strikes of parliament's "Big Ben" clock as singer Emeli Sande was unwrapped on a newspaper garbage truck to sing "Read All About It". … Western brands see Indonesia as land of milk and diapers
JAKARTA (Reuters) – Global consumer firms such as Nestle and Procter & Gamble are investing hundreds of millions of dollars in Indonesia, drawn by the combination of rising wealth and youth in a country with 22 million people under the age of four. On paper, Indonesia looks like a sure bet. The middle class in the world’s fourth largest population is expected to swell to 150 million people by 2014. Economic growth picked up to a stronger-than-expected 6.4 percent last quarter, defying a global downturn because of domestic consumption and investment. …
As drought looms in India, fear for its cattle
MHASWAD, India (Reuters) – Armed with the latest monsoon rainfall data, weather experts finally conceded this month that India is facing a drought, confirming what millions of livestock farmers around the country had known for weeks. For over three months, even state agencies have been providing free fodder to those most vulnerable to a shortfall in India’s annual monsoon — farmers who eke a living out of small landholdings and the milk provided by cattle. …
14 Pakistanis who joined Afghan police return home
At least 14 Pakistanis who crossed the border to join the Afghan police force have resigned from their jobs and returned home, officials said Sunday, amid simmering tensions with Afghanistan. Insight: Bo's brand of justice leaves timebomb for China
CHONGQING, China (Reuters) – China's fallen politician Bo Xilai left a timebomb as a parting gift for the Communist Party leadership that threw him out — the smoldering demands for redress from the many targets of his harsh version of justice in the city he ruled. For now, China remains transfixed on the fate of Bo and his wife Gu Kailai. She went on trial on Thursday, charged with murdering Neil Heywood, a British businessman at the heart of the scandal that felled Bo, once an aspirant to top power. The verdict will be announced later, as will Bo's fate. … London bids farewell, US top of the world
LONDON (Reuters) – London said farewell to the Olympic Games on Sunday with a high-octane romp through British pop music, bringing the curtain down on more than two weeks of action at the end of which the United States topped the sporting world with 46 gold medals. There was another sellout crowd at the 80,000-capacity athletics stadium in East London for the final act of the Games, and another 300 million people were expected to tune in on television sets around the world. The concert opened with a countdown followed by the chimes of Big Ben marking 9 p.m. (2000 GMT). … Egypt's Morsy sends defense minister, top general to 'retirement' - CNN
Cairo (CNN) — Egyptian President Mohamed Morsy shook up the country's powerful military leadership Sunday, replacing top generals and reasserting power the military claimed for itself before he took office. Field Marshal Mohammed Hussein Tantawi, … 
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