News Headlines - 16 December 2014

▽Russia has just lost the economic war with the west | The Guardian

The interest rate hike’s failure to halt a freefalling rouble means Russia is facing a perfect storm, only part of which is a full-blown currency crisis

▽UK inflation at lowest level for a decade - FT.com

Falling oil and food prices have driven UK inflation to its lowest level in more than a decade, delivering a boost to the spending power of households that are still recovering from a period of stagnant wages.

▽Microsoft’s ‘Star Trek’ Skype translator turns English into Spanish | The Guardian

Microsoft has released its first preview of Skype Translator, which allows real-time conversations between spoken English and Spanish and will be extended to more languages.

▽McDonald's Japan rations fries as U.S. West Coast port dispute drags on | Reuters

McDonald's Holdings Co (Japan) Ltd has embarked on the emergency measure of only offering small-sized french fries to customers as a protracted labour dispute at U.S. West Coast ports has contributed to long delays in imports.

▽Funerals Begin for 141 Slain in Taliban Attack on Pakistan School

The first funerals are being held for the victims of a Taliban school massacre in Pakistan on Tuesday that left at least 141 people dead, most of them young students.