While U Slept. Big 5 Overnight Stories. Tuesday, May 25, 2010

May 25, 2010

NORTH KOREA THREATENS MILITARY ACTION AGAINST SOUTH North accuses South Korean’s navy of crossing into its territorial waters, says it could respond militarily, as tensions continue to rise after last month’s sinking of a South Korean warship. (CNN/Yonhap)

NEW OIL SPILL AFTER TANKER COLLIDES WITH CARRIER NEAR SINGAPORE Estimated 2,000 metric tons of oil leaking into waters between Malaysia and Singapore. Traffic in Asia’s busiest shipping lane unaffected. (Reuters)

GLOBAL MARKETS CONTINUE TO TANK European exchanges open with 2 to 3 percent drops after similar closing losses in Asia.  In London, the FTSE 100 has fallen by more than 10% in past month after hitting a 22-month high in April. Joining Eurozone doubts are worries over showdown between North and South Korea. (Dow Jones)

OBAMA BACKS REPEAL OF DON’T ASK, DON’T TELL Compromise deal to end ban on openly gays serving in military would not take effect until after a study is completed in December. But first needs full congressional approval. (WashPost)

REPORT: US EXPANDS SECRET MILITARY OPS IN GLOBAL HOT SPOTS Gen. Petraeus OKs sending of American Special Operations troops to both friendly and hostile nations in the Middle East, Central Asia and the Horn of Africa to disrupt militant groups or counter threats. Military effort to systematize clandestine operations, and not be reliant on CIA, in efforts to counter al Qaeda and potential Iranian threat. (NYT)

BONUS: ROBBERY IN BAGHDAD LEAVES AT LEAST 15 DEAD Masked gunmen kill 15 in assault on gold shops in Baghdad, flee with  large quantity of gold. (AP)


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