February 6, 2017 nº 1,835 - Vol. 14
"Just because nobody complains doesn't mean all parachutes are perfect."
Benny Hill
Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at www.migalhas.com/latinoamerica
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Trump takes aim at Dodd-Frank, investor protections rule in Executive Action
Trump signed two directives on Friday, ordering a review of financial industry regulations known as Dodd-Frank and halting implementation of a rule that requires financial advisers to act in the best interests of their clients. Trump himself made his intentions clear in a meeting with small business owners Monday. "Dodd-Frank is a disaster," Trump said. "We're going to be doing a big number on Dodd-Frank." These executive actions are the start of a Trump administration effort to reverse or revise financial regulations put in place by the Obama administration and seen by Trump and his advisers as onerous and ineffective. It appears that the directives won't immediately do a big number on the law. The directive will instruct the Treasury secretary to meet with the agencies that oversee the law to identify possible changes. Hinting at where the administration might expect the review to lead, an official said that under the Obama administration, "some of the rules may have even been unconstitutional, creating new agencies that don't actually protect consumers." That is an allusion to the Consumer Financial Protection Bureau, the consumer watchdog bureau which Republicans in Congress opposed from its very creation and was the subject of a years-long fight over its leadership and structure.
50 ACLU affiliates seek information on immigration order's enforcement
Fifty American Civil Liberties Union (ACLU) affiliates filed 18 Freedom of Information Act (FOIA) requests on Thursday with US Customs and Border Protection (CBP) to find out how administration officials are interpreting and executing the US immigration executive order. Border Litigation Project Staff Attorney with ACLU of San Diego and Imperial Counties Mitra Ebadolahi says, "It is imperative that the public learn if federal immigration officials are blatantly defying nationwide federal court orders that block President Trump's unconstitutional Muslim ban." According to various news reports, CBP officials are detaining and deporting individuals although federal courts have ordered them to stop enforcing the executive order. The immigration order signed by President Donald Trump administration is reportedly being executed at more than 55 international airports across the country.
1 - Electrolux buys U.S. Anova to tap into connected products growth - click here.
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China's time?
How does China's bid for global supremacy stand? When it comes to strategic focus, China is on course. It's easier to look laser sharp when the competition is in disarray. Here the internal difficulties of the US and the European Union are helpful to China. As Chinese Foreign Ministry official Zhang Jun put it: "If people want to say China has taken a position of leadership, it's not because China suddenly thrust itself forward as a leader. It's because the original front-runners suddenly fell back and pushed China to the front."
China promises to punish those involved in illegal financing activities
China said Sunday it would begin imposing harsh punishments on those involved with illegal financing activities, with a particular focus on underground banking and the stock market, following a string of scandals.
China's intelligent weaponry gets smarter
The United States no longer has a strategic monopoly on a technology that is widely seen as the key factor in the next generation of warfare.
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Federal appeals court declines to reinstate immigration order
The US Court of Appeals for the Ninth Circuit on Saturday denied the Trump administration's motion to reinstate immigration restrictions until the case could be heard by the court. The emergency motion to reinstate the immigration restrictions was filed by the Trump administration on Friday, arguing that only the president can decide who can enter the US and that the district court had "overreached" by second guessing the president's decision in a matter of national security. Saturday's ruling means that the restrictions will be suspended until arguments have been heard by the court. The court gave the two states challenging the executive order, Minnesota and Washington, and the Trump administration utnil Monday to file further briefs. The restraining order was granted by a judge for the US District Court for the Western District of Washington on Friday following a hearing. (Click here)
Federal Judge stays Trump travel order, but many visas already revoked
The State Department says some 60,000 visas were canceled, more than previous estimates. At least one airline said it will now allow nationals of the seven affected countries to travel to the US
Romania protesters not backing down after decree repeal
About 500,000 demonstrators have rallied across Romania, despite the government revoking a controversial decree that fuelled their discontent. The left-wing government earlier scrapped the decree, which would have shielded many politicians from prosecution for corruption. But protesters remain dissatisfied about a revised version of the bill which will now be put to parliament. Some are calling for the government of PM Sorin Grindeanu to resign.
Did Iran's ballistic missile test violate a U.N. resolution ?
The US has placed additional sanctions on Iran after its missile test on Sunday. The Trump administration says the test violated a U.N. resolution. Iran says it didn't. Who's right? Most nonproliferation experts would say Iran certainly defied the spirit of the U.N. resolution, but technically didn't violate it — because it contains no prohibition against such testing, as one of its predecessors, passed in 2010, specifically did. U.N. Security Council Resolution 1929, from 2010, says the Security Council "decides that Iran shall not undertake any activity related to ballistic missiles capable of delivering nuclear weapons, including launches using ballistic missile technology, and that States shall take all necessary measures to prevent the transfer of technology or technical assistance to Iran related to such activities." In Resolution 2231, passed in 2015, the Security Council endorsed the nuclear deal, known formally as the Joint Comprehensive Plan of Action or JCPOA. It terminated the provisions of the 2010 resolution and added language deep in one of the annexes saying: "Iran is called upon not to undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons, including launches using such ballistic missile technology, until the date eight years after the JCPOA Adoption Day or until the date on which the IAEA submits a report confirming the Broader Conclusion, whichever is earlier." As diplomatic terms of art, "shall not" — which appeared in the 2010 resolution — represents a clear and enforceable prohibition, whereas being "called upon" not to do something is more ambiguous.
Federal judge orders Google to comply with search warrant
A judge for the US District Court for the Eastern District of Pennsylvania on Friday ordered Google to disclose certain information found in foreign-stored e-mails, as requested by an FBI search warrant. This decision conflicts with a previous Second Circuit Court ruling, which was most recently denied a rehearing. By virtue of the way e-mails are distributed on Google's e-mail server, the tech corporation was unable to decipher whether certain sought-after e-mails were sent and received in the US and, following the Second Circuit ruling, refused to provide the FBI with the potentially foreign e-mails. The judge said, because "the invasion of privacy will occur in the United States" and "the searches of the electronic data disclosed by Google pursuant to the warrants will occur in the United States," the requested information falls within an acceptable domestic use of the Stored Communications Act. In addition, the judge stated there was no seizure, as no "meaningful interference" with the e-mail account holder's "possessory interest." (Click here)
Puerto Rico governor approves statehood referendum
Puerto Rico Governor Ricardo Rosselló, on Friday approved a law to hold nonbinding referendum that would allow the US territory to vote on statehood. The referendum, to be held in June, will allow the voters to choose between statehood and independence/free association.
Volkswagen faces new front on emissions legal action
Volkswagen faces its first legal action in Germany from a big corporate client over the diesel emissions scandal. Deutsche See, which leases 500 vehicles from VW, said it had been unable to reach an out-of-court settlement. Deutsche See filed its complaint for "malicious deception" at the regional court in Braunschweig. VW is involved in numerous lawsuits from individual owners, regulators, states and dealers, many of them class-action cases in the US. Deutsche See is one of Germany's major fish and seafood producers. The business promotes itself as environmentally friendly, and in 2010 won an award for being Germany's "most sustainable company". (Click here)
Trump defends Putin over Russia killings allegations
Trump has defended Vladimir Putin when questioned over allegations of murders carried out by the Russian state. In an interview he said: "There are a lot of killers. We've got a lot of killers. What do you think? Our country's so innocent?" Trump said he respected President Putin and would prefer to "get along with him". He said he wanted help from Russia in the fight against "Islamic terrorism"
Transparency advocates fear Trump officials will block flow of information to public
In the campaign, Trump was a dogged advocate for accountability and disclosure. In office, his administration has shown slim inclination to embrace transparency. Open government advocates are worried.
Study finds only modest gains by women and minorities on Fortune 500 boards
Women and minorities occupied nearly 31 percent of the board seats of Fortune 500 companies in 2016. But white men still held more than two-thirds of the positions.
Law used to imprison Egyptians draws scrutiny
Rights activists are trying to force President Abdel Fattah al-Sissi to throw out a law used by his government to imprison thousands of Egyptians and sentence hundreds to death by arguing that it was overturned as far back as 1928. Over the past three years, judges have cited Law 10 of 1914, or the Assembly Law, in jailing opposition activists and ordinary people for protesting against Sissi and his government and in issuing mass death sentences, mainly to Islamists. Security forces also cite it to justify the use of force against demonstrators that has led to thousands of deaths, a crackdown they say is in response to fatal attacks on police and soldiers and is needed to preserve stability in the most populous Arab state.
India secures first conviction under AML law
Indian authorities secured their first conviction under its anti-money laundering law, with a state minister being sentenced to seven years in prison.
Time
Is Steve Bannon the Second Most Powerful Man in the World?
Newsweek
Will conservatives join Labour in opposing May's Brexit plan?
Business Week
Stability Is Good for Business. Trump's Whims Threaten It
The Economist
American politics: An insurgent in the White House
Der Spiegel
Mephistos Plan. America first.
L'Espresso
L'omino forte
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