July 30, 2014 nº 1,524 - Vol. 12

"Most people spend more time and energy going around problems than in trying to solve them."

Henry Ford

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  • Top News

Argentina hours away from bond default

Argentina's economy minister is expected to return to the negotiating table on Wednesday in a last-ditch attempt to prevent the country defaulting on its bonds. Axel Kicillof's talks with "hold-out" investors ended late on Tuesday night in New York without agreement. They are demanding a full pay-out of $1.3bn on the bonds they hold. A US judge has ruled that the "hold-outs" must be paid by Wednesday night if no deal is agreed. But thousands of miles away in Buenos Aires, many are skeptical that there can be any agreement. The government's rhetoric has been clear. The "hold-outs" are US hedge funds that bought debt on the cheap during Argentina's darkest hours and never agreed to restructuring. President Cristina Fernandez de Kirchner calls them vultures, accusing them of taking advantage of Argentina's debt problems to make a big profit. What makes the problem worse is that if the "hold-outs" get their way, other bondholders who agreed to take cuts of up to 70% in what they are owed may also demand full repayment.

US and EU expand sanctions on Russia

Barack Obama has announced new economic sanctions against Russia, saying they will make Russia's "weak economy even weaker". He said the co-ordinated actions of the US and European Union would "have an even bigger bite" on Russia's economy. "If Russia continues on this current path, the costs on Russia will continue to grow." The new restrictions include banning Americans or people in the US from banking with three Russian banks. The aim is to increase the cost to Russia of its continued support for pro-Moscow rebels in eastern Ukraine. Moscow denies charges by the EU and US that it is supplying heavy weapons to the rebels. (Click here)

Russia 'violated 1987 nuclear missile treaty', says US

Russia has violated a key arms control treaty by testing a nuclear cruise missile, the US government says. Russia tested a ground-launched cruise missile, breaking the Intermediate-Range Nuclear Forces Treaty signed in 1987 during the Cold War, the US said. A senior US official did not provide further details on the alleged breach, but described it as "very serious". The bilateral agreement banned medium-range missiles with ranges between 500 and 5,500 km (300 to 3,400 miles). The US claims come at a time of heightened tensions between the two sides, with the US criticizing Russia for its alleged involvement in the conflict in Ukraine. "We encourage Russia to return to compliance with its obligations under the treaty and to eliminate any prohibited items in a verifiable matter," an official added.

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  • Crumbs

1 - Court orders Russia to pay $50 billion for seizing Yukos assets - click here.

2 - Congressman introduces bill to legalize marijuana oil - click here.

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  • MiMIC Journal

China investigates ex-security chief

China's former security chief Zhou Yongkang is being investigated for suspected "serious disciplinary violation." The news confirms rumors about the hugely powerful former minister, who has not been seen in public for months. Zhou headed China's Ministry of Public Security and was a member of the top decision-making body, the Politburo Standing Committee. The move to target him will send shockwaves through the political elite.

China Xinjiang: Violence 'kills or injures dozens'

Dozens of people have been killed or injured in violence in China's Xinjiang region on Monday. A knife-wielding gang attacked a police station and government offices in Shache county. Police shot dead many attackers, and "dozens" of Uighur and Han Chinese civilians were killed or hurt. Confirming incidents is difficult, as information is tightly controlled. Activists said the violence erupted as Uighurs protested against a crackdown.

Chinese raid Microsoft

An anti-monopoly investigation into US technology giant Microsoft has been launched by Chinese authorities. China's State Administration for Industry and Commerce - the body responsible for enforcing business laws - said it was looking into "alleged monopoly actions" by the company. The announcement came after officials from the regulator visited some of Microsoft's local offices. The company said it "will address any concerns the government may have". It has not yet been accused of any specific wrongdoing. Any potential investigation in China would be a fresh setback for Microsoft in the country, a key growth market for global technology firms.

(Click here)

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  • Historia Verdadera

Contratos

La compañía canadiense Americas Petrogas Inc  está en negociaciones con el Gobierno argentino para extender el periodo de exploración del yacimiento de Lomas Ranqueles. La petrolera también indicó que continúa en conversaciones con el Gobierno de la provincia patagónica de Neuquén para extender el contrato sobre el bloque Huacalera.

Colombia – Japón

El presidente de Colombia, Juan Manuel Santos, y el primer ministro japonés, Shinzo Abe, decidieron acelerar las negociaciones para la firma de un acuerdo comercial durante la visita del jefe de Gobierno nipón a Bogotá. Santos destacó que cuando esté concluida la negociación la medida permitirá a Colombia "tener mejor acceso" al enorme mercado japonés.

De ojo en  México

Las petroleras internacionales British Petroleum, Chevron y Shell ya preparan su apuesta para el desarrollo de proyectos en la industria petrolera mexicana. El secretario de Desarrollo Económico y Portuario de Veracruz, Erik Porres Blesa, dijo que esas empresas trasnacionales forman parte de por lo menos 64 firmas que se han acercado al gobierno estatal con miras a incursionar en esta industria en el Estado una vez que se aprueben las leyes secundarias de la reforma al sector. Las empresas ya habían comprometido una inversión de US$ 11.000 mlls.

Negocios

La rusa Rosneft se comprometió a pagar en septiembre a la estatal Petróleos de Venezuela US$ 440 mlls. a partir de un desembolso total de US$ 1.100 mlls. para una empresa conjunta en la Faja del Orinoco, el mayor reservorio global de crudo. Los presidentes de Rosneft y PDVSA, Igor Sechin y Rafael Ramírez, respectivamente, ratificaron el acuerdo del proyecto Petrovictoria en el sureste de Venezuela, en una rueda de prensa en Caracas.

(Presione aqui)

  • Brief News
Obama's immigration-impeachment gambit

The Obama administration could be planning a "very significant", large-scale immigration reform sometime before November's mid-term congressional elections. According to the White House, Obama is frustrated with the lack of progress Congress is making toward immigration reform and will take action unilaterally, if necessary. Such measures could include granting work permits "to potentially millions of immigrants who are in this country illegally, allowing them to stay in the United States without threat of deportation". As word of the possible move has leaked out, Republican politicians expressed outrage. On Monday Senator Jeff Sessions issued a warning to the president: "It would be an affront to the people of this country which they will never forgive. It would be a permanent stain on your presidency." Given the near certain right-wing fury were Obama to proceed, one may wonder whether the president might be intentionally provoking a constitutional crisis. Could he be daring Republicans to impeach him? Impeachment may be on the table as a result of the administration's actions.

Proposed rules expose rifts among Bitcoin enthusiasts

A new front has opened in the battle over Bitcoin. Since New York became the first state to propose virtual currency regulations two weeks ago, Bitcoin enthusiasts have had a mixed reaction on whether the new rules will help legitimize the virtual currency or whether they will thwart innovation and threaten the very freedom that Bitcoin was meant to promote. The draft legislation has also exposed a division among virtual currency companies with enough resources to comply with the regulations and those without. Bitcoin supporters are planning to send an open letter to Benjamin M. Lawsky, New York State's top financial regulator, requesting more time to comment on his proposed legislation. "Many of us are individuals or small start-ups operating on limited budgets without access to extensive legal resources," the letter states. "This imposes a substantial burden as we seek to understand the proposed rules and their current and future impacts on our businesses, open-source projects and educational research." The letter also refers to "inconsistent statements" and opaque language in the draft regulations.

Khmer Rouge duo begin genocide trial

The last two surviving leaders of Cambodia's Khmer Rouge regime are to begin their second trial, this time for genocide, in Phnom Penh.

New legislation targets inversions from different angle

Lawmakers in Washington ratcheted up the pressure on Tuesday on companies seeking tax relief by moving overseas, introducing a bill that would withhold government contracts from companies that undertake so-called inversion deals. The No Federal Contracts for Corporate Deserters Act – introduced by four Democrats, Senators Richard Durbin of Illinois and Carl Levin of Michigan, and Representatives Rosa DeLauro of Connecticut and Lloyd Doggett of Texas – seeks to discourage companies from reincorporating abroad by threatening to withhold federal dollars from the offending companies. The proposed bill would also allow federal agencies to stop doing business with companies if they subcontract with inverted corporations, potentially widening the scope of those affected. "With every successful inversion, the tax burden increases on the rest of us to pay what the corporate inverter doesn't," Mr. Durbin said in a statement. "The burden is made worse by allowing companies to profit off of federal contracts paid for by US taxpayers, while those very companies run from their US tax responsibility. We should make permanent the longstanding ban on federal contracts for corporations that have renounced their American corporate citizenship."

Russia to appeal against $50bn Yukos shareholder payout

Russia says it will appeal an unfavorable decision by a court in The Hague. The Permanent Court of Arbitration awarded $50 billion to shareholders of the defunct Yukos oil company. Russia seized the company in 2003 and put owner Mikhail Khodorkovsky in jail on tax and fraud charges. The Hague court said Russian officials had manipulated the legal system to bankrupt Yukos, and jail its boss. One decade ago, the Russian government seized the massive oil company Yukos. Today, an international tribunal called that seizure illegal, and it ordered Russia to pay $50 billion to shareholders with the now defunct company. The Russian finance ministry said the ruling was "flawed", "one-sided" and "politically biased". The ministry added that the Permanent Court for Arbitration in The Hague "had no jurisdiction to consider the questions it was given". It's not clear when or if Yukos shareholders will get any money.

McDonald's ruling sets ominous tone for franchisers

McDonald's Corp. could be treated as a joint employer with its franchisees in labor complaints, according to a National Labor Relations Board legal determination that could have far-reaching implications for how restaurant companies deal with their workers. The decision by the NLRB's general counsel came in response to complaints alleging that McDonald's and its franchisees violated the rights of employees involved in protests against the company. McDonald's vowed to fight the decision, which business and labor groups both said could set a precedent for restaurants and retailers that rely on franchising. McDonald's doesn't own most of its outlets, but the ruling could make it liable for labor conditions there. 

FedEx pleads not guilty to illegal drug deliveries

FedEx Corp. pleaded not guilty Tuesday in San Francisco federal court on 15 charges related to transporting painkillers and other prescription drugs that had been sold illegally.

France presses on with deal to sell two warships to Russia

France plans to go ahead with the sale of two warships to the Kremlin, even as amid continued fighting in Ukraine and the aftermath of the downed Malaysian airliner. People in St. Nazaire, the port town where the boats are being built, agree: The contract with Moscow should be fulfilled, they say. Despite mounting international pressure, cancellation of the deal, they say, would be a bad move for business. There's not much love for Putin in France. But in St. Nazaire, the contract is more about preserving a way of life than anything else.

Uber, Airbnb under attack in Spain as old and new economies clash

This summer, more people than ever before are booking rooms on Airbnb and using carpooling websites and smartphone apps to get around on vacation. The new "share economy" can be a money saver in areas hard hit by the economic crisis, like southern Europe. But in sunny Spain, authorities are cracking down. In Barcelona — one of the top destinations for European tourists this summer — police are pulling over and ticketing drivers suspected of using the private taxi app . The regional Catalan government is also trying to thwart , fining the US company some $40,000 and threatening to block its website. This is the first such punishment for the popular room-booking website, and other municipalities could follow suit. Spain is emerging as a battleground for such apps and a test case for how governments handle innovations beloved by many citizens but hated by the hotel lobby and powerful labor unions.

Court rejects law threatening Mississippi's last abortion clinic

A federal appeals court has rejected a Mississippi law that would have forced the state's only abortion clinic to close. In a 2-1 decision , a panel of the 5th US Circuit Court of Appeals on Tuesday turned aside arguments that women seeking to have an abortion could have the procedure done in a neighboring state. Closing the clinic in Jackson would place an "undue burden" on women, the court found. "Pre-viability, a woman has the constitutional right to end her pregnancy by abortion," Judge E. Grady Jolly wrote for the majority. "Mississippi may not shift its obligation to respect the established constitutional rights of its citizens to another state." The Mississippi law , enacted in 2012, requires abortion providers to have on staff doctors with admitting privileges at neighboring hospitals. Physicians at the Jackson clinic applied for privileges at area hospitals, but were unable to obtain them.

More than five-a-day 'no effect'

New research backs the five-a-day target for fruit and vegetables, but suggests eating more may have no added benefits. An analysis of 16 worldwide studies suggested that for every portion of fruit and vegetables consumed, there was a lower risk of premature death. But after five portions a day, there was no further impact, researchers report in The BMJ. There have been calls to up the quota to seven-a-day, to prolong lives.

White House says delayed action on climate change could cost billions

In a report issued Tuesday, the White House warned that the cost of inaction when it comes to climate change outweighs the cost of implementing more-stringent regulations on greenhouse gas emissions. the White House is "struggling to incorporate the costs associated with global warming into its energy decisions."

  • Daily Press Review

Deadly Israeli shelling hits Gaza UN school
Al Jazeera, Doha, Qatar

U.S. woman who lost husband to Ebola urges aid to fight outbreak
Haaretz, Liberal daily, Tel Aviv, Israel

Tesco shelves banning Israeli products
JPost, Conservative, Jerusalem, Israel

Bank to unveil bonus clawback plan
BBC News, Centrist newscaster, London, England

Girl hit by plane on beach dies
CNN International, London, England

Jasmin Walia helps Joey Essex celebrate his birthday in Ibiza
Daily Mail, Conservative daily, London, England

Clever trick that lets you TRIPLE your pension pot
Daily Mail, Conservative daily, London, England

Last launch for Europe's space cargo freighter
EuroNews, International news, Ecully Cedex, France

Deadly shelling strikes Gaza UN school
France 24, Issy-les-Moulineaux, France

Turkish Popstar denied entry into Greece for having Turkish Cyprus visa
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Israel-Gaza conflict: At least 13 dead in shell attack on UN school
Independent The, London, England

Major Ukrainian TV provider drops Russian channels
Moscow News The, Independent, Moscow, Russia

Celebrities take sides over Gaza
Telegraph The, Conservative daily, London, England

Pharrell wore Vivienne Westwood Buffalo hat 'to death', says designer
Telegraph The, Celebrity news, London, England

Khmer Rouge tribunal readies way for genocide case
China Post, English-language daily, Taipei, Taiwan

No End to Japan's Kleptomania
Chosun Ilbo, Conservative daily, Seoul, South Korea

Sniffer dog warning sends Australian jet passengers on a rush to flush
Hindustan Times, New Delhi, India

50 villages marooned in Thane after heavy rain
India Times, Conservative daily, New Delhi, India

U.K. orders child back to Japan under Hague Convention
Japan Times, Independent centrist, Tokyo, Japan

GOP-led House ready to OK lawsuit against Obama
New Zealand Herald, Conservative daily, Auckland, New Zealand

Ukraine President cancels trip over protests in eastern Ukraine
Straits Times, Pro-government, Singapore

Manu's kitchen doesn't rule
Sydney Morning Herald, Centrist daily, Sydney, Australia

Terror threats at chemical plants underestimated
Taiwan News, English-language daily, Taipei, Taiwan

House ready to OK lawsuit against Barack Obama
The Economic Times, Business, Mumbai, India

At least 15 dead after Israeli tank shells hit UN school in Gaza
Canadian Broadcasting Centre, Toronto, Ontario

Argentine debt talks end without deal as default looms
Globe and Mail The, Centrist daily, Toronto, Canada

Liberty Reserve Brought Down By 'Joe Bogus': How The Feds Arrested Arthur Budovsky
International Business Times, Business news organization, New York, U.S

Human Development: Latin America Less Than Halfway There
IPS Latin America, International cooperative of journalists, Rome, Italy

China's local GDP data points to recovery, rebalancing
Reuters, Business News, New York, U.S

At least 43 Palestinians killed as Israel maintains pressure on Gaza
Reuters, World News, New York, U.S

Disclosure of First Nations salaries raises eyebrows
Toronto Star, Toronto, Ontario

Guinea concert stampede kills 24
BBC News, Centrist newscaster, London, England

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