Bonos

El Gobierno de Perú registró un documento en la Comisión de Valores de Estados Unidos para la emisión de valores por hasta US$3.455 mlls., sin especificar montos, fechas o términos para una posible colocación de bonos. Perú colocó bonos en marzo como parte de una operación de canje de deuda y el año pasado había colocado US$3.040 mlls. en su regreso a los mercados internacionales.

Acuerdo

Fiat Chrysler Automobiles México anunció la firma de un acuerdo con Ventika para que a partir de 2016 los vehículos que fabrique en territorio mexicano sean producidos con energías limpias. A través de un comunicado, se dio a conocer la la alianza automotriz da a conocer que este convenio con Ventika, del Grupo Fisterra Energy, es para proveer de energía eólica a sus plantas de manufactura y a los edificios corporativos en México.

Cuba - Alemania

Cuba y Alemania relanzaron en La Habana la cooperación bilateral y las consultas políticas con acuerdos suscritos por el ministro de Relaciones Exteriores de Alemania, Frank Walter Steinmeier, y el canciller Bruno Rodríguez. Ambos funcionarios suscribieron una Declaración Conjunta sobre la Cooperación entre los dos gobiernos y un Memorando de Entendimiento sobre el Establecimiento de un Mecanismo de Consultas Políticas.

Lula in corruption probe

Prosecutors in Brazil have opened a formal investigation into allegations of influence-peddling by the former president, Luiz Inacio Lula da Silva. He is accused of trying to help Oderbrecht get billion-dollar deals in Latin America and Africa. The inquiry centers on whether Lula had used his connections overseas improperly to help the Brazilian construction giant, Oderbrecht. The ex-president's foundation, the Lula Institute, said he had nothing to fear. Oderbrecht's CEO was arrested last month over involvement in a corruption scandal at the oil company Petrobras. According to the Prosecutor's Office, the alleged influence-peddling took place between 2011 and 2014 after Lula left office and was replaced by Dilma Rousseff.

Greece debt crisis continues to expose European divisions

When it was done, when the 17 hours of negotiations had dragged out an agreement, French President Francois Hollande said: "We had to preserve French-German relations." It had to be said, but few believed it. The Greek crisis has exposed a fault line: France and Germany do not share the same vision of Europe. General Charles de Gaulle had described Europe as "a coach and horses, with Germany the horse and France the coachman". The two countries together are the engine room behind the European project. After Angela Merkel won her third election, in 2013, she was crowned "Frau Europe". The Allgemeine Zeitung paper commented: "On this continent, everything will require the consent of Angela Merkel." Even Le Monde, recognizing that the French-German relationship was undergoing a fundamental change, wrote: "Angela Merkel, Chancellor of Germany, Chief of Europe". Germany was a reluctant colossus, but it had become Europe's indispensable nation. The German parliament is to vote on whether to allow negotiations on Greece's €86bn (94.6bn) bailout deal. Germany is one of several eurozone states that must give the green light before the rescue deal can go ahead.

Did Greece have a madman strategy?

Was the Greek negotiating strategy with the Eurogroup designed to convince the rest of Europe that the Syriza government was mad? That is a notion raised by Daniel Finkelstein in The Times (London) today. This idea has arisen because Yanis Varoufakis, the former Greek finance minister, is a game theorist, a type of economist who studies interactions in simplified versions of reality. These stylised scenarios are known, in the jargon, as "games". Famous ones you might have heard of include "the Stag Hunt", "The Ultimatum Game" and - most famously - "the Prisoner's Dilemma". One famous game is called "Chicken". Imagine two cars racing towards one another. If neither swerves, both drivers lose. If either swerves, however, that person is deemed to lose. This is a bit like the Greek negotiation. Neither side wants to give in first, but neither side wants to end with no deal. This is a hard game to be good at - unless you can send a worrying signal to the driver of the other car. You could try to convince the other driver that you have no control of the car, so they will be forced to move. Rip off the steering wheel and wave it out of the window, perhaps? Or you could behave like you enjoy crashes - or are indifferent to the pain they cause. That, Lord Finkelstein has suggested, was part of the Greek negotiating strategy. Finkelstein wrote: "Varoufakis believed that if his negotiating partners - the Germans, the IMF, the Commission - concluded he was a bit bonkers, a bit reckless, they would appreciate that he might crash the Greek economy and bring down the whole edifice of the euro on top of him. Persuading your adversary that you are mad is a classic game theory gambit." I think you can understand the Greek position much more simply: they predicated their negotiating position on notions that turned out to be untrue. Here is another simple idea from game theory: a classic negotiation between two parties is best understood by looking at ideas called the "outside option" and the "inside option". The outside option is the outcome for each individual if the negotiation fails. The inside option is what you get if the negotiation is completed. Negotiation is usually the process of changing the value of the inside option.

EU Court reins in legal battles over mobile-phone patents

The European Union's top court set limits on the ability of mobile-phone makers owning key industry patents to use court injunctions to thwart competitors seeking to use the technology in their own equipment. Huawei Technologies Co. and other mobile-phone makers that own a so-called standard-essential patent can go to court seeking to bar rivals from using it -- or to ban their products -- only if they have met strict conditions, the EU Court of Justice in Luxembourg ruled Thursday. Owners of such key patents that previously committed "to grant third parties a license on fair, reasonable and non-discriminatory terms" can only seek an injunction if first they present to the alleged infringer "a specific written offer for a license," the court said. The European Commission, the EU's antitrust watchdog, has also sought to rein in patent abuses as Motorola Mobility, Microsoft Corp., Apple Inc. and Samsung Electronics Co. trade victories in courts across the world on intellectual property. Industry-standard technology helps ensure products such as mobile-phone antennas and global-positioning system software can operate together when made by different manufacturers.

Employee or contractor? New US guidelines could reclassify workers

The Labor Department has suggested standards an employer must meet to consider a worker an independent contractor. Employment lawyers say this will lead to more lawsuits against employers. David Weil, the administrator of the Labor Department's Wage and Hour Division, says misclassification is a top priority for the Labor Department because nonemployees aren't covered by various workplace regulations such as overtime, occupational safety, unemployment insurance and the like. The abuse of independent contractor status, he says, has been on the rise, and not just in industries like construction and janitorial work where it has long been an issue. "But of particular concern, we find it spreading into other industries where in the past it hasn't been a problem," Weil says. Those include hotels, distribution, restaurants and retailing. Weil says he based the guidelines on precedent established by court decisions — looking at things like compensation structure, the length of the contract, and how much independence the worker has in setting schedules. Most businesses don't take advantage of their contractors, and Weil says they will be helped by clearer guidelines. "I think it also benefits employers who are already doing the right thing, who are really undermined by employers who come in and do misclassification," he says.

DOJ: malware marketplace Darkode shut down

The US Department of Justice (DOJ) and FBI on Wednesday announced that a joint effort between law enforcement agencies across 20 countries has led to the seizure and shutdown of the online forum Darkode which provided a marketplace where cybercriminals could buy and sell hacking tools, malicious software, stolen credit card numbers and other illicit items. The website's administrator and 70 others have been indicted, twelve of them in the US. The forum could only be accessed by invitation, and was password-protected. It was believed to be impenetrable by outsiders. In the release, the agencies underscored the importance of the shutdown:

What does it take to prove airline collusion?

In 1982, Robert Crandall, a senior executive at American Airlines, told the chief executive officer of Braniff Airlines, Howard Putnam, "I have a suggestion for you. Raise your goddamn fares 20 percent. I'll raise mine the next morning." He added: "You'll make more money, and I will, too." Putnam, who was recording the conversation, didn't go along. As egregious as the behavior was, the resulting Department of Justice antitrust suit against American was settled with an agreement by Crandall not to do it again. He was also ordered to record all contacts with other airline executives for two years. Braniff went bust; Crandall became American's CEO. The question of what you can say and what you can't has come up again this summer. On July 1 the Justice Department confirmed it's investigating possible "unlawful coordination" by airlines. The four biggest carriers, American Airlines, Delta Air Lines, Southwest Airlines, and United Continental Holdings, said they were cooperating with the probe. Justice investigators are seeking details of conversations, meetings, and e-mails to determine whether airlines are discussing how to control the supply of seats, a critical factor in determining fares. "In my experience looking at markets with just a few players, sometimes there is a temptation to coordinate behavior," says Bill Baer, assistant attorney general for antitrust. He declined to comment on the airline investigation. Airlines for America, which represents the carriers, says it's confident they'll be cleared: "Our members compete vigorously every day, and the traveling public has been the beneficiary." Collusion cases depend on proving agreement between parties. According to antitrust experts, discussing planned pricing and capacity changes is more legally problematic than sharing historical data. A mention of a specific route is more dangerous than a general observation. Private conversations are more likely to get you into trouble than public statements. Anything that can be construed as a veiled offer to restrain trade, followed by a veiled acceptance of that offer, is almost certain to land you in hot water. "Communication is extremely important. You can't just watch the other guy," says William Kovacic, a former chairman of the Federal Trade Commission, which enforces competition law along with the Justice Department. What violates the law, says Kovacic, now a George Washington University Law School professor, is "communication that indicates intentions and elicits a response." The antitrust bar is buzzing with questions about what prompted the feds to look at the airlines. One trigger may have been the June meeting of the International Air Transport Association in Miami, at which airline executives talked openly about "capacity discipline," not-so-subtle code for limiting the number of seats available. At a press conference, Delta President Ed Bastian said his company is "continuing with the discipline that the marketplace is expecting." American Airlines CEO Doug Parker told Reuters it was important to avoid overcapacity: "I think everybody in the industry understands that." Justice may also look into communications with investors. Academic research suggests big firms that own stock in multiple airlines discourage competition to keep industry profits high. "We find that product prices are 3 percent to 11 percent higher because of common ownership," Martin Schmalz of the University of Michigan's Ross School of Business and José Azar and Isabel Tecu of consulting firm Charles River Associates argue in a working paper. One of the asset managers it names is BlackRock, a large shareholder in the four major airlines. "We expect fair and ethical competition between the companies we invest in on behalf of our clients," BlackRock says. Capacity discipline, which accompanied the merger frenzy following the 2008 financial crisis, is giving the industry a rare chance to make a buck, analysts say. "Despite being as consolidated as it is, it's still intensively competitive," says Andrew Davis, an analyst at T. Rowe Price Group, whose funds own airline shares. "This is an industry that from a profitability standpoint, if it doesn't rank dead last in the United States, it's got to be near the bottom," says Edmund Greenslet, a former Wall Street airline analyst who publishes the newsletter Airline Monitor. Lately fares have fallen, in part because of the drop in oil prices. But the major airlines haven't passed along all the savings from cheaper fuel, and profits have soared. In any case, the Justice Department doesn't need to demonstrate fantastic profitability to prove collusion. It needs to show only that key people are opening their mouths and saying the wrong things to each other.

HRW: Syria violating ban on use of child soldiers

Human Rights Watch (HRW) on Wednesday accused Syria's main Kurdish militia of violating the child soldier ban. The militia has been the main force for combating the Islamic State group within the country, and has made progress in capturing land in northern Syria. The United Nations Office of the High Commissioner for Human Rights has an Optional Protocol to the Children's Rights Convention on Children and Armed Conflict, which says that children under the age of 18 should not be recruited to armed groups for any reason. In 2014, the People's Protection Unit (YPG) pledged, through the "Deed of Commitment" to "demobilize all fighters under 18 within one month." Although nearly 150 children were demobilized within that month, in the past year HRW has documented the continued use and death of child soldiers in the group.

Sexual orientation discrimination is barred by existing law, Federal Commission rules

The Equal Employment Opportunity Commission has ruled that existing civil rights law bars sexual orientation-based employment discrimination — a groundbreaking decision to advance legal protections for gay, lesbian, and bisexual workers. "Allegations of discrimination on the basis of sexual orientation necessarily state a claim of discrimination on the basis of sex," the commission concluded in a decision dated July 15. The independent commission addressed the question of whether the ban on sex discrimination in Title VII of the Civil Rights Act of 1964 bars anti-LGB discrimination in a complaint brought by a Florida-based air traffic control specialist against Transportation Sec. Anthony Foxx. The ruling — approved by a 3-2 vote of the five-person commission — applies to federal employees' claims directly, but it also applies to the entire EEOC, which includes its offices across the nation that take and investigate claims of discrimination in private employment.

Puerto Rico, running short of cash, misses a debt payment

The Public Finance Corporation, which helps the island's government finance its budget deficits, failed to make a $93.7 million debt-servicing payment.

Shareholders approve controversial Samsung merger

One of South Korea's most controversial mergers has been given approval by shareholders of the construction company Samsung C&T. The deal will see the firm taken over by holding company Cheil Industries, another part of the Samsung group. The merger is strongly opposed by some of Samsung C&T's shareholders, led by US hedge fund Elliott Associates. For Samsung's founding family, the move is a crucial step in consolidating control of the conglomerate. Shareholders in Cheil Industries approved the merger earlier on Friday. Elliott Associates, which is the second largest single shareholder in C&T, says the takeover significantly undervalues the company's stock. The hedge fund had filed several unsuccessful law suits to stop the vote from going ahead.

Bill Clinton regrets 'three strikes' bill

Former US President Bill Clinton has admitted his "three strikes" crime bill introduced in the 1990s contributed to the problem of overpopulated prisons. Speaking to a civil rights group, he said: "I signed a bill that made the problem worse and I want to admit it." It put 100,000 more police officers on the streets but locked up "minor actors for way too long", Clinton said. Obama launched a renewed effort to reform the criminal justice system this week. He visited a federal prison in Oklahoma on Thursday, becoming the first sitting president to do so. Obama said the criminal justice system needs to distinguish between young people who make mistakes and those who are truly dangerous.

Uber fined $7.3m in California

Taxi booking app Uber has been fined $7.3m in California for not giving regulators enough information about its service and operations. A judge at the California Public Utilities Commission - the regulator that allows the company to operate in the state - said Uber had not filed all the reports required by the body. It was accused of withholding details on incidents such as accidents. Uber has been involved in legal battles around the world over its operations.

Uber controversies:

• Canada, France, Hong Kong, India, South Africa, the US and UK have all seen demonstrations against Uber

• Protests have brought gridlock to major capital cities; in France, they turned violent

• Uber has had to provide security for its drivers in South Africa who have been threatened by rivals

• An Indian woman filed a lawsuit against Uber saying she was raped by one of its drivers in Delhi

• Sexual assault allegations have also been made against Uber drivers in the US and Canada

The company has up to 30 days to appeal before its licence to operate in California is suspended. Uber faces suspension of its license to operate in the state of California within 30 days and up to $7.3 million in fines for refusing to comply with state laws, according to a judge.

Fifa corruption: Swiss extradite first official to US

A Fifa official detained in a raid in Switzerland has been extradited to the US, Swiss authorities say. The unnamed man was one of seven football officials held on corruption charges in Switzerland on 27 May. He was taken to New York by a three-man police escort on Wednesday, the Swiss Justice Department says.

'Auschwitz book-keeper' Oskar Groening sentenced to four years

A German court has convicted a 94-year-old former guard at the Nazi death camp at Auschwitz of being an accessory to the murder of at least 300,000 Jews. Oskar Groening, known as the "book-keeper of Auschwitz", was sentenced to four years in prison. He was responsible for counting the belongings confiscated from prisoners and had admitted "moral guilt". His lawyers said he did not facilitate genocide, but prosecutors argued that he had helped the camp run smoothly. Many observers have questioned whether Groening will ultimately be sent to jail, given his advanced age. He is expected to be one of the last Nazis to face a courtroom.

• Daily Press Review

Papua New Guinea's Snake Man
Al Jazeera, Doha, Qatar

IDF planning larger Gaza fence, but says illicit border crossing inevitable
Haaretz, Liberal daily, Tel Aviv, Israel

UK military pilots in Syria strikes
BBC News, Centrist newscaster, London, England

Gunman killed 4 Marines before police stopped him
CNN International, London, England

Sophie Ward's in a brave new role writes BAZ BAMIGBOYE
Daily Mail, Conservative daily, London, England

Son of NHS doctor from Middlesbrough helped to recruit up to 18 fellow medical students to join Isis†
Daily Mail, Conservative daily, London, England

US probes motive behind deadly Tennessee shooting rampage
EuroNews, International news, Ecully Cedex, France

Victims' families mark MH17 crash anniversary
France 24, Issy-les-Moulineaux, France

Oldest Qurans republished in print and digital formats
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Syria airstrikes: British pilots 'have taken part in military action against Isis'
Independent The, London, England

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

British pilots in first air strikes against Isil in Syria
Telegraph The, Conservative daily, London, England

Celebrity couples with large age gaps
Telegraph The, Celebrity news, London, England

Two-year-old's skull split open in attack
China Post, English-language daily, Taipei, Taiwan

Korea Lags Behind Neighbors in Cutting-Edge Industry
Chosun Ilbo, Conservative daily, Seoul, South Korea

White House honours Indian American woman as 'Champion of Change'
Hindustan Times, New Delhi, India

Setback for Rahul Gandhi? Jagdishpur paper mill project may be shifted to Maharashtra
India Times, Conservative daily, New Delhi, India

Lower House passes security bills amid protests
Japan Times, Independent centrist, Tokyo, Japan

Japan leader announces redo for costly Tokyo Olympic stadium
New Zealand Herald, Conservative daily, Auckland, New Zealand

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

Beat the post holiday blues
Sydney Morning Herald, Centrist daily, Sydney, Australia

Electrolux Q2 profit beats forecast, upbeat on Europe, US markets
The Economic Times, Business, Mumbai, India

Ukraine, Australia mark sombre anniversary of Malaysian jet's downing
Canadian Broadcasting Centre, Toronto, Ontario

Muslims around the world prepare to celebrate Eid al-Fitr holiday
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

Europe moves to restore funding to Greece after bailout vote
Reuters, Business News, New York, U.S

Europe moves to restore funding to Greece after bailout vote
Reuters, World News, New York, U.S

RCMP tightens secrecy in identifying victims of crime, accidents
Toronto Star, Toronto, Ontario

How mosquitoes zero in on hot bodies
BBC News, Centrist newscaster, London, England

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