Obama Signs New Iran Sanctions Into Law.

President Obama has signed a bill imposing tough new sanctions against Iran over its alleged nuclear weapons program. The bill Mr. Obama signed Thursday evening in an East Room ceremony targets exports of gasoline and other refined petroleum products to Iran. It bans U.S. banks from doing business with foreign banks providing services to Iran's Revolutionary Guard. The administration hopes the new unilateral sanctions, combined with ones approved last month in the U.N. Security Council, will yield results even though previous regimens failed to halt Iran's activities that could lead to nuclear weapons development. The U.N. sanctions target the Revolutionary Guard, ballistic missiles and nuclear-related investments.Link

A new global currency.

A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value. But several European officials attending a high-level meeting of the U.N. Economic and Social Council countered by saying that the market, not politicians, would determine what currencies countries would keep on hand for reserves. "The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency," the U.N. World Economic and Social Survey 2010 said.Link