Headlines from around the world: 10/1/12

Nakoula Basseley Nakoula, the man suspected of making the anti-islam film that inflamed much of the Middle East two weeks ago is being held in the U.S. without bond until a hearing can be scheduled. The man will be tried for eight probation violations following his arrest for his participation in bank fraud in 2010.

Last week was confusing for the Israeli populace, due to miscommunication on the part of President Benjamin Netanyahu. During a speech at the United Nations Thursday, Netanyahu took a simple drawing of a bomb, and drew a red line through the bomb illustrating “90% completion” of the bomb. Netanyahu did so to point out that Iran must be stopped before they reach 90% completion on their uranium enrichment process. Much of the Israeli populace took that to indicate that Netanyahu thought Iran was nearing 90% enrichment of their uranium, which would mean they are fully capable of producing a bomb.

The Obama administration attempted to give Egypt $450 million Friday, but was stopped by congress. Nervous of sending any foreign aid to a country run by the Muslim Brotherhood, legislators decided to stall the payment for the time being. In light of the recent changes in government in Egypt, lawmakers are wary of supplying the government with more funds.

Questions about the quality of the Iraqi security forces continue to be asked after the deadly prison break in Iraq last week. The break is suspected to have been orchestrated by Al-Qaeda. 16 police officers are dead, and 102 prisoners have escaped. Of the 102 escapees, 47 of them are affiliated with Al-Qaeda. As of Friday evening, 40 of the prisoners were recaptured and put back in holding.

The air is heavy with frustration between China and Japan, as the decision of who owns the cluster of small islands in the East China Sea continues. Last week China organized a reception for many top-level businessmen and officials from both China and Japan to commemorate the 40-year anniversary of diplomacy between the two powers, but denied entry to a select few Japanese attendees. The two countries are again at odds.

The Greek government has reached an agreement to implement several austerity measures that are intended to bring them out of economic turmoil. The new plan calls for $15 billion in pension cuts, salary restrictions, and various state spending, as well as more taxes.

Investors the world over are waiting for the U.S. election results to determine their course of action for the next fiscal year. With the U.S. economy still weak, many are unsure of the safest way to use their money, and are electing to wait until the next president is decided to pursue new investments.

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