Can algae save the world – again?

PLYMOUTH, England (Reuters) – Can algae save the world again? The microscopic green plants cleaned up the earth’s atmosphere millions of years ago and scientists hope they can do it now by helping remove greenhouse gases and create new oil reserves.

California budget crisis may force massive layoffs (Reuters)

Reuters – California Gov. Arnold Schwarzenegger will notify up to 20,000 state employees on Friday their jobs will be eliminated if lawmakers fail by then to balance the budget by closing a shortfall of more than $40 billion, a spokesman said on Tuesday.

Obama plan holds off on foreclosure rescue details (AP)

A foreclosure sign sits on top of a sale placard outside a home on the market in the south Denver suburb of Littleton, Colo., on Tuesday, Dec. 23, 2008. To those on the front lines of the housing crisis, the Obama administration's plan to spend $50 billion to combat foreclosures was a welcome change in the government's approach. But the plan won't be unveiled for at least a week and might not be enough to prevent the housing market's troubles from mushrooming further. (AP Photo/David Zalubowski)AP – To those on the front lines of the housing crisis, the Obama administration’s pledge to spend $50 billion to combat foreclosures was a welcome change in the government’s approach. But the actual plan won’t be unveiled for at least a week and might not be enough to prevent the housing market’s troubles from mushrooming further.

Obama pushes stimulus, sees no easy out for banks (Reuters)

President Barack Obama takes a question as he addresses his first news conference as president in the East Room of the White House in Washington, February 9, 2009. (Jim Bourg/Reuters)Reuters – President Barack Obama urged the U.S. Congress on Tuesday to wrap up a huge economic stimulus bill and warned investors not to expect quick fixes as financial markets plunged on the lack of detail in a new bank rescue plan.

Social websites sign EU pact vs. "cyber-bullying"

BRUSSELS (Reuters) – Seventeen social networking sites in Europe including Facebook and MySpace signed on Tuesday a pact aimed at curbing “cyber-bullying” and protecting the privacy of underage users, the European Commission said.

Financial crisis lifts need for broadband network: Optus

Optus is a member of a consortium that is one of five bidders for the right to build the project, which is likely to cost about $15 billion. O’Sullivan said the impact of the global economic crisis should not prevent the NBN from being built. ‘This is

Telstra Buys Two China Mobile Content, Online Music Firms

MELBOURNE -(Dow Jones)- Telstra Corp. (TLS.AU), Australia’s largest telecommunications company, said Wednesday that it has bought controlling interests in two Chinese cellphone content and online music businesses for an undisclosed sum. The acquisitions