In the news:

In no particular order:

No sign of Middle East talks after Quartet meeting

The Quartet of Middle East peace mediators failed to announce any progress toward reviving Israeli-Palestinian peace talks after a lengthy meeting on Monday, saying there are still gaps between the two sides.

The group, which includes the European Union, Russia, the United Nations and the United States, ended a roughly two-hour and 15-minute dinner meeting in Washington without issuing a statement.

2012: Iran's Atomic Daydreams

Iran's supreme leader Ayatollah Khameni has ordered the revolutionary guards to "immediately" proceed with the completion of an atomic bomb with hopes of a test in 2012, Iran Press News reports.

The order includes testing and arming of missiles capable of delivering a nuclear payload, according to sources inside the Revolutionary Guards, the report says.

According to the report Khameini's order stems from the belief that Israel and the United States lack the courage to strike Iran's nuclear facilities and that they are "frozen in place and confused as to what action to take."

Khameini and his advisors have - according to the report - concluded from Western inaction that the time is ripe for the Iranian regime to become a nuclear-armed state without any interference from the outside.

Fourth Attack on Egypt's Gas Pipeline

Masked gunmen blew up a terminal of the Egyptian natural gas pipeline to Israel and Jordan in a predawn attack Tuesday (local time), The Associated Press reported.

The report quoted security officials who said the attack was carried out by at least four assailants. The terminal is located in the city of El-Arish in the northern part of Egypt’s Sinai Peninsula.

This was the fourth attack since February and the second in as many weeks on Egypt’s gas pipeline. Last week’s attack took place at a pumping station at Nagah in the Bir al-Abd region of the northern Sinai Peninsula.

Italy races to forefront of Europe debt crisis

Italy moved with alarming speed from the fringe of the European Union’s financial crisis to its very centre as efforts to prevent the debt contagion from spreading beyond Greece, Ireland and Portugal failed, even threatening to engulf the United States.

Plunging prices for trading in Italian debt presented Brussels with a nightmare scenario: The potential bailout of the third-largest economy in the euro zone could be unaffordable and could result in the destruction of the common currency.

The spread to Italy is disturbing evidence that even the largest economies, none of which seemed to share any of the worst economic traits of Greece, are not immune from investors’ fears that debt loads are simply becoming too big to be paid off.

Waning growth in the Western world is only intensifying the belief that debt defaults may be inevitable, a potentially catastrophic scenario that would slaughter the banks and cut off the credit required to keep companies functioning.

The sense that the debt crisis is spreading beyond Europe and about to grip the United States, where budget talks are in stalemate as the government bumps into its borrowing limits, has only fuelled the debt-contagion fires.

'Israel could be hit with 50 tons of explosives in next war'

Defense Minister Ehud Barak warned lawmakers on Monday that nearly 50 tons of explosives could be dropped on Israel during its next war, but added that the Israel Defense Forces could retaliate by firing back 1,500 tons of ammunition with extreme precision.

Strong 6.6 quake hits Philippines

A strong earthquake recorded at magnitude 6.2 struck off the coast of the central Philippines early on Tuesday, but officials said they expected no major damage from the tremor.

Faith Shared 'Chrislam' Drama Continues - Van Impe Tells Paul Crouch of TBN, We're Taking a Stand

Since mid-June, Jack and Rexella Van Impe have been focusing almost exclusively on "Chrislam," which they say is the merging of Christianity and Islam by numerous churches across the states in an effort to promote a demonic one world religion. A number of Christians believe that "Chrislam" is a sign of the end times.

What they are so upset about is the Faith Shared project sponsored by the Interfaith Alliance and Human Rights First, where clergy representing various faiths gather during services to read from one another's texts.

According to Van Impe, Tony Blair and Bill Clinton are also promoting Chrislam and a one world religion. A one world government will occur before the one world religion, the Van Impes say.

Markets rocked as debt crisis deepens

Europe's debt crisis escalated on Monday as Italy and Spain saw their borrowing costs soar by record amounts, hitting bank shares and stock markets globally.

"It is essential that euro area member states and the [International Monetary Fund] act in the coming days to avoid market developments spinning out of control and risk contagion accelerating," said a six-page paper presented to eurozone finance ministers by the banks on Monday.

"Market deterioration in the last few days underscores the fact that a comprehensive approach is needed immediately to contain contagion and avoid a global financial crisis," the document said.

Markets fall on eurozone fears

Markets have fallen across Europe amid fears that the Eurozone debt crisis will prove contagious and spread to Italy and Spain.

The concern is that Italy and Spain may have to join Greece, Portugal and the Republic of Ireland in seeking a bailout from the EU and IMF.