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Berlusconi resigns amid sex scandal allegations

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The country elected a multi-billionaire, one of the 118th richest in the world, who now leaves Italy with a budget in shambles.

SIlvio Berlusconi, 75, the italian prime minister, resigned on Friday after becoming embroiled in sex scandal where allegations say he paid for sex with a 17 year old girl according to cnn.

Berlusconi's career was long and filled with scandals and allegations. He once filed for divorce on account of allegations he was having an affair with an 18 year-old causing him to separate with his then wife, Veronica Lerio.

Yet his economic woes cannot be missed. He exits as prime minister, leaving Italy $2.7 trillion in debt, which is about %150 of its economic output.

Combined, Greece, Ireland and Portugual have all received international bailouts which in total is still on half as much as the debt Italy carries according Huffington post.

The head of the International Monetary Fund Christine Lagarde emphasizes the international concern for Italian debt woes. The political change should be sign of "clarification and of credibility," said Largarde.

Prince Sultan of Saudi Arabia Dies

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The heir to the Saudi throne Prince Sultan bin Abdel Aziz died from colon cancer.

The prince was one of the most powerful princes in Saudi Arabia. He helped the Saudi monarchy walk the line between delicate relations abroad with the U.S. and controlling the spread of domestic terrorism as home.

However for the first time the succession of power is different. It's not clear whether the king will put up the next crown prince or the Allegiance Council he created.

This also raises questions for the future of the leadership in Saudi Arabia. The prince was staunch supporter of maintaining the delicate U.S. relationship. President Obama referred to the prince as a "valued friend," said Obama.

The prince died at New York's Presbyterian hospital where had been battling colon cancer.

Steve Jobs founder of Apple dies

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Steve Jobs, the visionary who transformed computers and the way we use them died from pancreatic cancer on Friday in California.

Founder of the Apple Co. and creator of numerous products of which weren't just aesthetically pleasing but functional as well.

His philosophy was "to strip away the excess layers of business, design and innovation until only the simple, elegant reality remained," said Regis McKenna, a longtime Silicon Valley marketing executive who has worked with Jobs.

Starting with the launch of the Apple II computer in 1977, Jobs grew Apple into a global company worth $350 billion.

One of the biggest innovation was in how Jobs influenced the music industry with the release of the ipod in 2001, followed by the itunes mp3 store shortly after. "He saved the music industry," writes Ed Nash, President of Altius Management an entertainment management company in Nashville.

The CEO, innovator and pioneer was 56.

Gadhafi, buried

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Libyan dictator Moammar Gadhafi was buried in a secret location reports the Libyan interim government on Tuesday.

Gadhafi was buried alongside his son who, along with Gadhafi, was killed in the Libyan uprising reports the USA today.

Libya's new leaders would not reveal the location, but say Gadhafi and his son were given a traditional islamic burial. Reports of Gadhafi's death are conflicting with some saying he was killed in crossfire, while others claim he was executed.

Recent video shows a bloodied and dying Gadhafi amongst rebel fighters who are beating Gadhafi and cheering. Human Rights watch says there are strong indications that the leader was executed reports NPR.

The National Transitional Council, which is tasked with forming the new Libyan government, has promised an investigation into the circumstances surrounding the former leaders death reports the Tripoli Post.

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