The governments of every advanced economy will eventually default on their sovereign debts, including the US, the UK and Western Europe, says Marc Faber, publisher of the Gloom Boom & Doom Report.

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Tim Bond of Barclays has been remarkably accurate in predicting the strength and length of the global equity rally. He now recommends bringing down equity risk, in the expectation of corrective behaviour in Q2 and Q3. He says a contagious process is already underway.

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Microsoft CEO Steve Ballmer will announce Microsoft's new, top-secret mobile phone plans next Monday at the Mobile World Congress in Barcelona.

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