“The consumer spending slump and tightening credit markets are triggering a wave of bankruptcies in American retailing,” with ensuing store closures “expected to remake suburban malls and downtown shopping districts across the country,” writes Michael Barbaro for the Times.

Barbaro notes that over half a dozen store chains have filed for bankruptcy in recent months amidst “mounting debt and plummeting sales” and warns that financial troubles are “quickly spreading to bigger national companies.”

NYT Story

Basic access to food is slipping out of reach for many people in developing countries.

The cost of the rice has risen by more than three-quarters in two months and the price of wheat has more than doubled in the same time.

The desperation in dozens of countries has turned deadly of late. In the past week alone there have been violent, food-related riots in Haiti, Indonesia, the Philippines and Cameroon.

For all the economists and consumers who hope high food prices are temporary, here’s one reason why they probably won’t be: Farm costs are skyrocketing, making permanently higher prices essential for farmers to keep expanding production.

Inflation is biting farmers world-wide. In New Zealand, farm wages are up as much as 20% this year, and the average price of a dairy cow has jumped to more than $1,900 – almost double last year’s average of about $1,000. In Thailand and Indonesia, farmers are complaining about sharp increases in the price of fertilizer and diesel fuel.

FBI also spies on home soil for military, documents show; Much information acquired without court order

The Federal Bureau of Investigation has been routinely monitoring the e-mails, instant messages and cell phone calls of suspects across the United States – and has done so, in many cases, without the approval of a court.

Washington Post Story

Two years ago the UN’s Food and Agriculture Organisation expected biofuels to help eradicate hunger and poverty for up to two billion people. Yesterday the UN secretary general, Ban Ki-moon raised real doubt over that policy amid signs that the world was facing its worst food crisis in a generation.

Since the FAO’s report in April 2006 tens of thousands of farmers have switched from food to fuel production to reduce US dependence on foreign oil. Spurred by generous subsidies and an EU commitment to increase the use of biofuels to counter climate change, at least 8m hectares (20m acres) of maize, wheat, soya and other crops which once provided animal feed and food have been taken out of production in the US.

Robert Zoellick, president of the World Bank, said this week that prices of all staple food had risen 80% in three years, and that 33 countries faced unrest because of the price rises.