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U.S. city Detroit files for bankruptcy1, largest in history
The US city Detroit has filed for bankruptcy.
The move is the largest-ever municipal bankruptcy in U.S. history.
The largest city in the State of Michigan is saddled with more than 18 billion dollars worth of debt.
Local officials say the move is the only reasonable alternative available to them.
If the bankruptcy filing is approved, Detroit's assets could be liquidated2 to satisfy its creditors3.
Once one of the most robust4 local economies in the United States, Detroit - the hub of US auto5 manufacutring - has been hammered by the downturn in the US auto industry.
China home prices continue to rise
The latest government figures are suggesting the prices of both new and existing homes are continuing to rise in most Chinese cities, adding additional stress on the government in its attempt to try to control the housing market.
Out of the 70 cities monitored, 63 have seen monthly home price increases in June, though it is down from 65 in May.
On a year-on-year basis, new home prices have risen last month in all the cities monitored except Wenzhou in Zhejiang.
Existing home prices are also increasing in value, with 55 cities reporting month-on-month price gains.
The city's housing authorities are now requiring the average area for a single tenant9 be at least 5-square-meters.
This follows reports of an 80-square-meter apartment here in Beijing being rented to 25 people.
China, Switzerland pledge closer cooperation
Chinese President Xi Jinping and Premier13 Li Keqiang have met with visiting Swiss President Ueli Maurer.
The meetings here in Beijing come on the heels of China and Switzerland signing a free trade agreement earlier this month.
This represents a 114-percent rise compared to the same period last year.
Maurer is in China to attend a global ecological15 forum16 in Guizhou's provincial17 capital, Guiyang.
A curfew is now in effect in Indian-controlled Kashmir.
This follows clashes between authorities and Muslim protesters.
Six people have been killed in the unrest in the village of Dadam, which is about 150-kilometers south of the regional capital, Srinagar.
The Muslim majority launched a massive demonstration20 following the alleged22 desecration23 of the Quran by Indian Border Guards.
The protesters also say the border guards assaulted a local Imam.
On top of the 6 dead, more than 2-dozen others have been hurt in the unrest.
Zimbabwean President Robert Mugabe has turned his sights on the United States in his latest election 'stump25 speech.'
Responding to concerns raised by a US official about the transparency of the forthcoming vote, Mugabe has blasted the US for -quote- "being insane" for questioning the election process.
A spokesperson for the US State Department suggested this week the United States was concerned about a lack of transparency in the preparations for the July 31st vote, and called on the government of Zimbabwe to ensure the vote is peaceful, fair and credible26.
Tropical storm Cimaron lands on SE China coast
Tropical storm Cimaron has made landfall in southern China.
The center of the storm hit the southwestern part of Fujian overnight, bringing with it winds over 70-kilometers per hour.
While forecasters expect the storm to begin dying down now that it's made landfall, it's still bringing heavy rains with it.
Local authorities have issued flood warnings.
Southeastern China is still coping with the aftermath of Typhoon Soulik, which crossed through this past weekend.
Shanghai closes travel agency over GSK case
A Shanghai-based travel agency connected to the Glaxo-Smith-Kline bribery29 case has been temporarily shut down as part of the investigation30.
GSK is being accused of bribery and tax-related violations31.
Four senior managers of the Chinese division of the drug maker32 are accused of funneling33 bribe28 money through travel agencies to pay off officials, doctors and hospitals to expand the company's market share and increase drug prices.
Authorities allege21 GlaxoSmithKline dispursed billions of yuan to numerous travel agencies around China as part of the bribery scheme.
Chinese official sacked over daughter's luxury wedding
An official in Hebei has been fired over his daughter's extravagant34 wedding.
The Party chief of a township in Guyuan County has been removed from his post after it was revealed he spent some 200-thousand yuan on his daughter's wedding banquet.
The subsequent investigation has also revealed the official received 1-million yuan in gifts from others during the wedding.
He's since been ordered to return the money he accepted.
The county's discipline inspection35 commission is now involved.
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点击收听单词发音
1 bankruptcy | |
n.破产;无偿付能力 | |
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2 liquidated | |
v.清算( liquidate的过去式和过去分词 );清除(某人);清偿;变卖 | |
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3 creditors | |
n.债权人,债主( creditor的名词复数 ) | |
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4 robust | |
adj.强壮的,强健的,粗野的,需要体力的,浓的 | |
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5 auto | |
n.(=automobile)(口语)汽车 | |
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6 vows | |
誓言( vow的名词复数 ); 郑重宣布,许愿 | |
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7 promising | |
adj.有希望的,有前途的 | |
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8 rentals | |
n.租费,租金额( rental的名词复数 ) | |
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9 tenant | |
n.承租人;房客;佃户;v.租借,租用 | |
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10 stipulate | |
vt.规定,(作为条件)讲定,保证 | |
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11 tenants | |
n.房客( tenant的名词复数 );佃户;占用者;占有者 | |
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12 bunk | |
n.(车、船等倚壁而设的)铺位;废话 | |
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13 premier | |
adj.首要的;n.总理,首相 | |
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14 bilateral | |
adj.双方的,两边的,两侧的 | |
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15 ecological | |
adj.生态的,生态学的 | |
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16 forum | |
n.论坛,讨论会 | |
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17 provincial | |
adj.省的,地方的;n.外省人,乡下人 | |
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18 civilian | |
adj.平民的,民用的,民众的 | |
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19 killings | |
谋杀( killing的名词复数 ); 突然发大财,暴发 | |
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20 demonstration | |
n.表明,示范,论证,示威 | |
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21 allege | |
vt.宣称,申述,主张,断言 | |
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22 alleged | |
a.被指控的,嫌疑的 | |
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23 desecration | |
n. 亵渎神圣, 污辱 | |
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24 meddling | |
v.干涉,干预(他人事务)( meddle的现在分词 ) | |
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25 stump | |
n.残株,烟蒂,讲演台;v.砍断,蹒跚而走 | |
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26 credible | |
adj.可信任的,可靠的 | |
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27 lashed | |
adj.具睫毛的v.鞭打( lash的过去式和过去分词 );煽动;紧系;怒斥 | |
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28 bribe | |
n.贿赂;v.向…行贿,买通 | |
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29 bribery | |
n.贿络行为,行贿,受贿 | |
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30 investigation | |
n.调查,调查研究 | |
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31 violations | |
违反( violation的名词复数 ); 冒犯; 违反(行为、事例); 强奸 | |
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32 maker | |
n.制造者,制造商 | |
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33 funneling | |
[医]成漏斗形:描述膀胱底及膀胱尿道交接区 | |
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34 extravagant | |
adj.奢侈的;过分的;(言行等)放肆的 | |
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35 inspection | |
n.检查,审查,检阅 | |
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