October 19, 2011 nº 1,103 - Vol. 9


"New York is the perfect model of a city, not the model of a perfect city."

Lewis Mumford

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  • Top News

EU court forbids patents involving destruction of human embryos

The ECJ - European Court of Justice on Tuesday ruled that, under European law, a patent cannot be issued for any process which involves removing a stem cell from and then destroying a human embryo. The case stems from a German patent filed by Oliver Brustle who invented a method for converting human embryonic stem cells into nerve cells. Greenpeace first challenged Brustle's patent in 1997. A German court ruled the patent invalid, and, upon appeal by Brustle, the German Federal Court of Justice referred questions to the ECJ. The ECJ considered "the concept of 'uses of human embryos for industrial or commercial purposes'" within Article 6(2)(c) of Directive 98/44/EC and held that: "An invention must be excluded from patentability where the application of the technical process for which the patent is filed necessitates the prior destruction of human embryos or their use as base material, even if the description of that process does not contain any reference to the use of human embryos. ... The exception to the non-patentability of uses of human embryos for industrial or commercial purposes concerns only inventions for therapeutic or diagnostic purposes which are applied to the human embryo and are useful to it.” The ruling limits the use in Europe of stem cells for the treatment of a range of diseases, and opponents of the ruling argue it will severely undercut medical research throughout the region.

As economy goes, so go takeovers, even as bargains abound

The merger market is like a pack of lemmings. If the economy is good, the takeover market will follow, but when times are bad, the market stalls. For the moment, there are still mega-deals, like Kinder Morgan's $21.1bn acquisition of the El Paso Corporation, and takeover activity is up. The volume of global mergers and acquisitions was up 22 percent, to $2.748trn, for the last 12 months ending in August from the period a year ago, according to Thomson Reuters. The increase in deal volume was driven in part by a threefold increase in hostile offers and strong company balance sheets. Yet many major economies in the world are growing sluggishly, if at all. The negative economic outlook is likely to counteract some otherwise strong drivers for deal-making.

The International Monetary Fund estimates growth for advanced economies at just 1.6 percent this year and only 1.9 percent in 2012, compared with a historical average of about 3 percent. In the United States, unemployment remains stubbornly high, and 2011 G.D.P. growth was recently estimated by a National Association for Business Economics poll of economists to be about 1.57 percent. The European sovereign debt crisis has worsened the economic growth problem. And the uncertainty over how far the crisis will spread in Europe is bound to drive down takeover volume. Then there is the stock market. In a presentation last week at the Penn State M&A Institute, Jane Wheeler, a senior managing director at Evercore Partners, noted that since 1985, takeover volume had grown in only two years when the Standard & Poor's 500-stock index had declined.

So we have the lemmings problem again. Takeover volume follows the stock market, and the market is down. Its recovery is fragile given the negative trends.

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  • Crumbs

1 - Italian PM cleared in tax fraud case - click here.

2 - Viacom tells court YouTube deliberately violated copyrights - click here.

3 - Dilma vs. Gisele: The war over Brazilian womanhood - click here.

4 - Brazil sports minister Orlando Silva denies corruption - click here.

5 - 'Lady Goo Goo' gets banned by Gaga - click here.

6 - Brazil prosecutor seek to deport Cesare Battisti - click here.

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  • MiMIC Journal

China reduces holdings of US debt

China reduces holdings of US Treasuries to their lowest level in a year after credit rating downgrade by Standard & Poor's.

Chinese scientist admits stealing trade secrets in US

A Chinese scientist, Kexue Huang, has admitted to stealing trade secrets from two US firms and sending them to China and Germany. He has been charged with economic espionage for stealing secrets on a pesticide and a new food product being developed. Huang has pleaded guilty to stealing secrets from Dow AgroSciences a subsidiary of the Dow Chemical Company and Cargill Inc while working for them. He faces a maximum prison sentence of 25 years.

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  • Historia Verdadera

Ducto

El grupo de ingeniería español Abengoa fue elegido por la Comisión Nacional de Agua mexicana para realizar un acueducto en el país por US$ 566 mlls. El proyecto permitirá el suministro de agua potable a los estados de Jalisco y Guanajuato, dijo Abengoa, que operará y mantendrá el acueducto durante 22 años con ingresos previstos por encima de los US$ 1.300 mlls.

Petrobras

El grupo petrolero británico BG podría vender acciones en su subsidiaria en Brasil, pero no planea vender participaciones de sus bloques costa afuera en el país, informaron ejecutivos del Petrobras.

Limites

Costa Rica violó al menos 48 veces el territorio nicaragüense en una zona de soberanía en disputa, según medios de comunicación. Las disputas entre ambos países tienen vieja data y ahora son sobre el dominio del Río San Juan, caso que esta en la Corte de La Haya. (Presione aquí)

  • Brief News

UN urges ban on prison isolation

The UN's torture investigator, Juan Mendez, urges countries to ban the use of solitary confinement in prisons for longer than 15 days.

General strike begins in Greece

A 48-hour general strike against austerity measures begins in Greece, grounding flights, halting most public services and closing shops and offices.

Russia signs free-trade deal with former Soviet states

Russia has signed a free-trade deal with seven other former Soviet republics that will scrap export and import tariffs on a number of goods. No details have yet been revealed about what goods will be included.

Chile students clash with police

Students and police have clashed in the Chilean capital, Santiago, during the latest protest over education reform. With more demonstrations planned for Wednesday, the government has said it will invoke an emergency security law to help quell the violence.

U.S. crafting framework for cyber offense-general

The United States is still crafting a legal framework to guide any offensive moves in cyberspace, months after the Pentagon unveiled a broad cyber strategy. Deliberations on military doctrine and legal framework are "ongoing."

For the U.S. Cyber Command, its mission is to protect Defense Department networks and, if ordered, to go on the offensive to make sure the United States retains the ability to use digitally networked systems on land, at sea and in the air. The military is still looking at "what kinds of options would we want to be able to offer" policymakers for going on the offense. One of the issues is what constitutes "active defense" in cyberspace, equating it with actions that a ship's captain is authorized to take at sea to protect a ship.

Companies faced fewer lawsuits in 2011

A survey of over 400 in-house counsels found that while firms faced fewer suits, regulatory actions and internal investigations rose due to 'a stricter regulatory environment.'

Regulation: The legal economy's best friend?

Legal chieftains at U.S. companies say the long reach of state and federal regulators, even more than the still struggling economy, will be the top factor that draws businesses into court battles in the next year. "Stricter regulation" will be the number one driver of increased litigation according to general counsels and other corporate law officials. In the report, 30% of respondents pointed to regulation for why they expect the number of legal disputes to increase, topping the 26% who said "company growth" would cause lawsuits and 21% that pointed to the "poor economy." Last year, only 19% of the lawyers surveyed said tighter regulation enforcement would the main cause of litigation.

Warning over web security attackA key web security system is no better defended now than when hackers undermined it earlier this year. SSL came under attack in September when hackers stole credentials that let them pose as almost any web firm. The credentials, known as certificates, were stolen from Dutch security firm DigiNotar. The attack is believed to have been carried out by the same hackers who stole certificates from Comodo in March 2011. The system guarantees the identity of a website via certificates that are issued by trusted authorities. It is used millions of times every day to re-assure people that they are connecting to the site they think they are.

S&P downgrades 24 Italian banks

Standard & Poor's has downgraded the credit ratings of 24 Italian banks and financial institutions. "Renewed market tensions in the eurozone's periphery, particularly in Italy, and dimming growth prospects have led to further deterioration in the operating environment for Italian banks," S&P said in a statement.

EU raids banks in probe of possible collusion in interest-rate derivatives

European Union regulators raided banks that offer financial derivatives linked to the Euro Interbank Offered Rate, saying they were investigating possible collusion.

Huge fine for anti-Chavez channel

Venezuela media regulators impose a huge fine on opposition TV channel Globovision, which says the government is trying to shut it down.

L'Oreal heiress Bettencourt under family guardianship

L'Oreal heiress Liliane Bettencourt, 88, is to be placed under the guardianship of members of her family. A French judge made the ruling based on concerns about Mrs Bettencourt's declining mental health. Bettencourt is estranged from her daughter, Francoise Bettencourt-Meyers, who, along with two grandsons, will now control her wealth and property.

Israel high court rejects appeal against prisoner exchange

The Israel Supreme Court on Monday rejected appeals to halt the release of Palestinian prisoners in exchange for a captured Israeli soldier. The petitions arguing against the release of more than 1,000 jailed Palestinians in exchange for captured Israeli soldier Gilad Shalit were filed by four families of the victims of the prisoners set to be released. The petitions were filed within the 48-hour window afforded to members of the public who wish to contest the prisoner exchange by the Ministry of Justice. The prisoner exchange deal came after a landmark agreement between Israel and Hamas that was negotiated last month. The rejection of the appeals by the court cleared the way for prisoner exchange to begin.

Vale open to new iron-ore price mechanism

Brazilian miner Vale SA is open to other forms of negotiations for setting iron ore prices beyond the existing quarterly talks. Vale will maintain the quarterly contract pricing system for iron ore sales, but is willing to look at other options on a case-by-case basis.

Poll: Half of Americans want pot legalized

Gallup has asked the survey question since 1969 and this is first time half of Americans think pot use should be legal.

Cambodia genocide tribunal to begin Khmer Rouge trial in November

The UN-backed ECCC - Extraordinary Chambers in the Courts of Cambodia announced Tuesday that the trial of the surviving Khmer Rouge leaders will begin on Monday, November 21. The prosecution will have two days for opening statements followed by half a day of opening statements for the defense. The first segment of the trial is expected to conclude by December 16 for Christmas recess and will resume after the holiday break on January 9. The four defendants have been indicted on charges of war crimes, crimes against humanity, genocide, religious persecution, homicide and torture.

UN rights expert warns of potential Lebanon slavery

UN Special Rapporteur on contemporary forms of slavery Gulnara Shahinian on Monday said that the Lebanese government must create more legal protections for some 200,000 domestic workers in the country. Without more regulations, Shahinian said, some could be forced into domestic servitude and be subject to physical and psychological abuse.

France court orders block on 'copwatch' website

The Tribunal de Grande Instance de Paris on Friday ordered French Internet service providers to block access to Copwatch Nord Paris I-D-F, a website designed to allow civilians to post videos of alleged police misconduct. The decision was applauded by the police union, Alliance Police Nationale (APN), which argued that the website incited violence against police. Jean-Claude Delage, secretary general of the APN, said that "[t]he judges have analyzed the situation perfectly—this site being a threat to the integrity of the police — and made the right decision." Opponents of Internet censorship were also quick to comment on the judgment. Jeremie Zimmermann, spokesman for La Quadrature du Net, a Paris-based net neutrality organization, called the order "an obvious will by the French government to control and censor citizens' new online public sphere." The site was ordered to be blocked immediately.

Indian trust lawsuit leader Cobell dies at 65

Elouise Cobell, who successfully led plaintiffs in the Indian trust class action lawsuit against the US DOI - Department of the Interior, died from cancer Sunday at age 65. The resulting $3.4bn settlement for mismanaged Indian land royalties was the largest settlement in US government history.

  • Daily Press Review

Deported Palestinians arrive in exile
Al Jazeera, Doha, Qatar

Clinton in Tripoli; Gaddafi forces counter-attack
Egyptian Gazette, English-language, Cairo, Egypt

Israeli start-up Waze draws investment from Chinese billionaire
Haaretz, Liberal daily, Tel Aviv, Israel

'Plane carrying 11 Palestinian prisoners lands in Turkey'
JPost, Conservative, Jerusalem, Israel

Millions in line for tax rebates
BBC News, Centrist newscaster, London, England

Vaccine for killer disease tantalizingly close
CNN International, London, England

Blair in Africa aid reliance claim
Daily Express, Conservative tabloid, London, England

Bank of England boss Mervyn King: 'This is the year of the Reluctant Recovery'
Daily Mail, Conservative daily, London, England

Mariah Carey introduces twins Monroe and Moroccan for the first time
Daily Mail, Conservative daily, London, England

Hamas claims victory over prisoner swap
EuroNews, International news, Ecully Cedex, France

GREECE: New 48-hour general strike begins in Greece
France 24, Issy-les-Moulineaux, France

26 soldiers killed in clashes in SE Turkey
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Greece shuts down in 48-hour strike
Independent The, London, England

New TV complex for Moscow
Moscow News The, Independent, Moscow, Russia

Israeli soldier Gilad Shalit released by Hamas into Egyptian custody
Telegraph The, Conservative daily, London, England

Harry Potter star Emma Watson prepares for Oxford studies
Telegraph The, Celebrity news, London, England

Lions, tigers, bears set free in US
Bangkok Post, Independent, Bangkok, Thailand

Schalit back in Israel after swap for 1,000
China Post, English-language daily, Taipei, Taiwan

What Does the DP Hope to Gain from Sabotaging the FTA?
Chosun Ilbo, Conservative daily, Seoul, South Korea

Jubilation as Shalit arrives in Israel
Hindustan Times, New Delhi, India

95-year-old woman gets life in dowry case
India Times, Conservative daily, New Delhi, India

Our children's future no longer looks so bright
Japan Times, Independent centrist, Tokyo, Japan

US Presidential hopeful confused over Libya's location
New Zealand Herald, Conservative daily, Auckland, New Zealand

Lebanese politicians hail prisoner swap deal between Hamas, Israel
People's Daily Online, English-language, Beijing, China

Kangaroo mauls Australian woman walking dogs
Straits Times, Pro-government, Singapore

Once were weekend warriors
Sydney Morning Herald, Centrist daily, Sydney, Australia

Clinton pledges to back up Libya
Taiwan News, English-language daily, Taipei, Taiwan

China Vice-Premier Li: Global risks rising
The Economic Times, Business, Mumbai, India

Shipbuilding contracts decision coming Wednesday
Canadian Broadcasting Centre, Toronto, Ontario

In Somalia, rain is not enough to provide food security
Globe and Mail The, Centrist daily, Toronto, Canada

IMF Warns Australia as Economy Begins to Pick up Pace
International Business Times, Business news organization, New York, U.S

EL SALVADOR: The Uphill Fight for a Disability Pension
IPS Latin America, International cooperative of journalists, Rome, Italy

Stocks rise, but Moody's Spain cut weighs
Reuters, Business News, New York, U.S

Heavy rains, mud hamper advance on Somali rebels in Afmadow
Reuters, World News, New York, U.S

Mallick: Meet the boy the bullies broke
Toronto Star, Toronto, Ontario

Somali suicide attack near talks
BBC News, Centrist newscaster, London, England

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