The two sides have failed to reach an agreement to avert mandatory, across-the-board spending cuts that took effect Friday.

CNN: Obama's new Cabinet picks face big challenges

European governments agree this could potentially weaken the agreement on combating climate change to such an extent that it will have little effect, and they will be fighting hard at the Hague against the US, Japan and Australia which want maximum flexibility in the way targets can be achieved.

BBC: Carbon-trading in Bolivia

Parker does not see much of an impact on low-cost carriers from the Open Skies Agreement, a treaty in effect since March that allows carriers to fly new routes into other countries.

FORBES: Raymond James' James Parker