WORLD

You heard the F-bomb dropped for the first time in the history of Oscars when Melissa Leo failed to compose herself before accepting the award. But there are other interesting quotes and great moments not seen and heard on TV at the 83rd Academy Awards on February 27, 2011.

It is inevitable that issues on the marginalization of black male and female performers be raised days before the annual prestigious awards for films. And as expected the same recurring concern have cropped up as Times published an article with a list of Oscar black winners, pointing out 'the lack of black nominees at 83rd Academy Award'. The article had resulted in heated debates among various groups and individuals, including four-time Oscar host, Whoopi Goldberg who had subsequently con...

Critics have said that this year's Oscars could go down as one of the worst awards nights in the history of Oscars. Data ratings from Nielsen a day after showed a decrease in audience share by ten percent compared last year. First time Oscar hosts Francaway, - the celebrity name for James Franco and Anne Hathaway - - have received dismal thumbs down for failure to wow as Oscar faces this year. This has paved the way for an increased clamor for Billy Crystal to host next year's Oscars.

Japan has recorded an unexpected 5.2 percent increase in its unemployment rate further weakening household spending for the second month.

Wildlife rescuers from South Australia and New South Wales were kept from helping out in the ongoing clean-up drive of the massive oil spill in the Gulf of Mexico as the Australian Marine Wildlife Research and Rescue Organisation lamented that strict regulations being implemented on the site prevented its team from participating in animal rescue efforts.

Japan announced on Tuesday that it is upgrading its economic growth forecast to 2.6 percent for the year leading to March 2011, coming from an earlier projection of 1.4 percent and enabling the troubled nation to achieve a gross domestic product (GDP) growth beyond the two percent mark.

China’s central bank has indicated over the weekend that the yuan would be more flexible in the coming days, though it gave clarification that significant changes should not be expected and at the last check, the Chinese currency still stands at about 6.8 against the US dollar.

The World Bank said in its report released on Friday that China is indicating symptoms of moderating growth following a solid recovery last year, largely fuelled by stimulus programs though it noted that the country’s economy has remained strong, propped up by real estate investment and stronger export demand.

Federal Reserve Chief Ben Bernanke said on Wednesday in a speech in New York that financial regulators must prioritise market stability as he warned that failure of interwoven financial companies could dislocate the financial system and the economy as a whole.

One person was confirmed killed and seven others were injured when a light plane crashed in Sydney's south-west area just after 8am Tuesday, the New South Wales Ambulance Service confirmed. Earlier, the NSW, said two people had been killed, but later revised the figure to just one.

The European debt crisis is unveiling similar signs of the subprime mortgage meltdown in the United States on 2007, with pressure and disruption in the financial system becoming more prominent as the problem gets worst by the day, according to a review by the Bank for International Settlements (BIS).

China took a defensive stand on its currency policy Saturday, and dismissed claims from members of the US Congress that Beijing is manipulating the yuan to prop up cheaper Chinese exports, resulting to massive job losses and factory closures in the United States.

A Japanese space probe said to be carrying dust samples from an asteroid plunged to Earth Sunday midnight as its capsule parachuted to South Australian state's outback within the Woomera Prohibited Area.

The Australian government will shoulder the cost in the rescue of 16-year-old Abby Sunderland, who was forced to send off a distress call after drifting for three days more than 2,000 miles southwest of Perth, while trying to circumnavigate the world solo.

Pushed by strong worldwide demand for Chinese-made clothes and consumer electronics, China once again saw a surge of 48.5 percent on its exports in May, seemingly showing signs that the eurozone crisis has yet to dampen the ever-present hunger for the affordable China export products.

The IMF warned Asian economies on Wednesday that the European debt crisis could still impact the continent’s financial standing.

The recent workers’ strike in Honda’s Chinese facilities has brought into light two-edged realities for Japanese firms operating in China: increasingly confident local workers would now demand for better pays as China’s economy continues to expand and other industry sectors that anticipate rising incomes to fuel further demands for premium goods.

European Central Bank (ECB) head Jean-Claude Trichet said on Saturday that the world must coordinate its efforts for more effective debt reduction measures in order to regain confidence for the global economy.

US Treasury Secretary Timothy Geithner has called on China to allow its currency to appreciate and take its true form, integrating the policy to a much wider economic reform that would free up Beijing from too much dependence on exports and encourage domestic demands for its products.

A communiqué draft released by the Group of 20 economic world powers yesterday has cautioned that the ongoing global recovery is still fragile as showcased by recent volatility in the financial markets.

Encouraged by positive indicators coming from the US market and other major worldwide markets, oil prices surged yesterday with New York’s light sweet crude delivery for July hitting $US73.28 per barrel and London’s Brent North Sea steadying at $US74.18 per barrel.

Cape Grim is a cold, windy and isolated place located at the end north west of Tasmania. It is home to some of the cleanest air on the planet and is considered the most significant air measuring station in the southern hemisphere.

Tata Motors of India has announced on Wednesday that the world’s cheapest car, the Nano, would again started rolling out from its new western India plant following the company’s forced desertion of its near-completed factory in Singur, West Bengal which was marred by violent land ownership dispute in 2008.

The Japanese government on Tuesday described as "regrettable" Australia's decision to file charges against Tokyo before the International Court of Justice (ICJ) regarding its whaling practices.

US Federal Reserve Chairman Ben Bernanke urged on Monday members of the Group of 20 world powers to closely coordinate financial reforms in its aim to strengthen the global economy as he leaves note that governments’ international cooperation is a must in overhauling market rules following the global financial crisis.

South Korea, China and Japan have stepped up calls for further free-trade talks that could lead to the creation of a unified economic bloc as South Korean President Lee Myung-Bak hosted a three-way summit with Chinese Premier Wen Jiabao and Japanese Prime Minister Yukio Hatoyama.

Following some pick ups early this year, luxury may be back in style as consultancy firm Bain & Company said Sunday that the luxury goods industry sales in 2010 would grow by four percent to 158 billion Euros or $A229.78 billion with much of the sales spikes to be seen within the first half of the year.

The Federal Government's proposed resource super profit tax became another controversy for British investors as they worry that other governments around the world might follow and implement their own tax.

Japan’s economic woes continues piling up as reports released on Friday spoke of rising unemployment in three straight month leading to April, plunging consumer prices index and declining household spending.