November 27, 2017 nº 1,925 - Vol. 14
"I head a nation of a million presidents."
Chaim Weizmann
Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at la.migalhas.com
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Trump takeaway on tech: enforcement over regulation
Over just two days this week, the Trump administration has both sued AT&T Inc. T -0.17% to block its planned takeover of Time Warner Inc. TWX -0.57% and proposed allowing internet-service providers—like AT&T—to form closer alliances with content companies, like Time Warner. The two government moves seem to go in opposite directions, on the one hand restricting a major telecommunications merger and on the other giving internet providers broad new powers to shape their customers' online experiences. But the actions reveal one consistency, and what might be viewed as an emerging Trump administration regulatory philosophy: Instead of new bright-line rules, such as those put in place under the Obama administration, it is stressing the enforcement of longstanding laws and regulations. The moves are a shift in emphasis from the approach taken by the Obama administration, which in 2015 adopted highly specific rules governing internet providers in the name of “net neutrality,” the principle that all web traffic be treated equally. The providers were prevented from cutting deals, known as "paid prioritization," that would give fast lanes to some kinds of content in return for a price.
Russian influence
Lawyer of Meister Scorsim Advocacia, Ericson M. Scorsim explains the public hearing of Facebook, Google, and Twitter at the US Senate on the Russian influence on the 2016 USA presidential campaign. (Click here)
1 - Time Inc. sells itself to Meredith Corp., backed by Koch Brothers. (Click here)
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China cuts import tariffs on almost 200 consumer goods
China is cutting import tariffs on 187 consumer goods from whisky to cashmere clothing to help spur spending and economic growth. The Finance Ministry said tariffs will drop from an average 17.3% to 7.7% on products, including pharmaceuticals, food, health supplements and clothing. The cut will take effect from the beginning of December. The move is designed to encourage consumers to spend more at home rather than on trips overseas.
China busts a $3 billion underground bank as it tightens its grip on money
The money came from all over China — its wealthy southern and eastern coasts as well as the arid northwest — as thousands of people scrambled to circumvent the country's strict controls on wealth.mIn the end, more than 10,000 people had used an underground bank to effectively funnel $3 billion out of the country before the authorities put a stop to it. The discovery of the underground bank in Shaoguan, in the southern province of Guangdong, demonstrates the furtive lengths that Chinese citizens go to in order to skirt government limits and get more of their money out of the country. The sums involved are enormous, large enough to not only affect China's economy but resonate around the world. Two years ago, a loss of confidence in China's outlook led many of its people to send their money abroad — a flow that helped drive a $1 trillion drop in China's stash of surplus foreign money. The exodus was enough to darken the country's long-held image as a major global economic growth engine.
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Uber takes driver battle to Supreme Court
Uber plans to take its fight over the employment status of its UK drivers to the Supreme Court.mEarlier this month the Employment Appeal Tribunal rejected the ride-hailing firm's argument about the status of employees. Unions argue that staff should be classified as "workers" rather than being self-employed. Such a move would entitle them to rights such as holiday pay and sick leave. Uber could have first taken the case to the Court of Appeal. An Uber spokesman said it had requested permission to appeal directly to the Supreme Court so that the case "can be resolved sooner rather than later". (Click here)
PDVSA: Maduro names general to head Venezuela oil firm
Venezuelan President Nicolas Maduro has named a general to head the state oil company, PDVSA, and the country's energy ministry. Maduro said the appointment of Major General Manuel Quevedo was "a new oil revolution" to tackle corruption. Last week executives of Citgo, the oil company's US refining subsidiary, were arrested over corruption allegations. Venezuela is in a deep economic crisis the government blames on "enemies in the US". Opponents cite mismanagement. The move comes days after PDVSA and Venezuela were declared in selective default for failing to meet payments on bonds.
Class action filed challenging the Tezos initial coin offerin
The Restis Law Firm, P.C. and Lite DePalma Greenberg LLC ("Restis Law Firm" and Lite DePalma") today announced that a class action has been commenced on behalf of United States persons and entities that contributed bitcoin and/or ethereum to the Tezos Initial Coin Offering ("ICO"). The complaint charges that Dynamic Ledger Solutions, Inc., Tezos Stiftung (a/k/a the Tezos Foundation), Kathleen Breitman, and Arthur Breitman engaged in an unregistered offering and sale of securities in violation of Sections 5, 12(a)(1) and 15 of the Securities Act of 1933, 15 USC. §§ 77e, 77l(a)(1) and 77o. Tezos founders claim it is a "decentralized blockchain that governs itself by establishing a true digital commonwealth." Tezos was marketed as potentially solving major limitations of bitcoin and ethereum by "letting participants directly control the rules of the network." Tezos is purportedly "designed to evolve, so that the next generation of ideas doesn't have to start over as a new blockchain." The complaint alleges that the Tezos ICO was an offer and sale of "securities" to United States investors. As such, the defendants were required to file a Registration Statement with the Securities and Exchange Commission. No Registration Statement was filed, and no exemption from registration was available. Accordingly, Plaintiff seeks to recover bitcoin and ethereum contributed to the Tezos ICO, along with any corresponding appreciation in value of those invested assets, or the equivalent in monetary damages or restitution.
Domestic violence is 'France's shame'
Macron has spoken out against domestic violence, saying it shames France that a woman is killed every three days. In a speech marking International Day for the Elimination of Violence Against Women, he said the silence around the issue must be broken. He has made gender equality one of the main themes of his five-year term in office. A number of demonstrations are being held across France to mark the day. "It's indispensable that the idea of shame changes sides, that the Republic cleanses its own concept of shame; that the everyday criminals who harass, insult, touch, attack never be excused, but identified, vilified, brought to justice, condemned as firmly as they should be," he said. "And France should no longer be one of those countries where women live in fear."
Putin signs 'foreign agent' media law
Putin has signed a law that allows the government to list any foreign media operating in the country as a foreign agent. The bill, in retaliation for Kremlin-backed broadcaster RT being told to register as a foreign agent in the US, was earlier approved by parliament. At least nine US-funded broadcasters, including Voice of America and Radio Free Europe/Radio Liberty could be hit. RT is accused of being part of Russia's alleged meddling in the US election. The broadcaster denies the claim. (Click here)
Poland's conservative government approves ban on Sunday shopping
Poland's ruling party approved a law that will gradually impose a ban on Sunday shopping, meeting the demand of its conservative Catholic supporters with a measure that risks undermining economic growth and hitting corporate profits and real-estate investors. (Click here)
If no one owns the Moon, can anyone make money up there?
Ambiguities in the 50-year-old Outer Space Treaty may be getting in the way of entrepreneurs seeking opportunities elsewhere in our solar system.
Fed remains on track to raise interest rates next month
Federal Reserve officials remain united in confusion about why inflation is weak but divided about the consequences.
UK drone users to sit safety tests under new law
Drone users in the UK may have to take safety awareness tests under new legislation planned by the government. Drones weighing more than 250g could also be banned from flying near airports, or above 400 ft, in a crackdown on unsafe flying. Police will also be given new powers to seize and ground drones which may have been used in criminal activity. The bill has been welcomed by the pilots' union, which has warned of near misses involving drones and aircraft.
South Korea to review whether or not to abolish anti-abortion law
The South Korean president's office said on Sunday that it will begin a review on the country's 64-year-old law to ban abortion. The announcement came after more than 230,000 South Koreans filed a petition calling for the abolishment of the law. South Korea criminalized abortion in 1953 when its leaders wanted to boost the population and build an army powerful enough to fend off its rival North Korea.
The rise and fall of a law-school empire fueled by Federal loans
Don Lively offered legal education for students rejected elsewhere. After a big expansion, thousands have transferred, dropped out or failed bar exams while struggling to pay down more than $1 billion in debt. The Charlotte school closed in August after North Carolina revoked its license. Enrollment in Arizona and Florida is down sharply, and InfiLaw is looking for buyers for both schools. Thousands of InfiLaw students have dropped out, transferred or failed state bar exams and are struggling to pay down a total of more than $1 billion in federal student loans, Education Department and American Bar Association data indicate. Many owe more than $100,000.
Sanctions trial in US riles Turkish Officials
A looming US sanctions trial that could implicate prominent Turkish officials is exacerbating tensions between Washington and Ankara, where authorities call the case an American plot to topple President Erdogan.
Time
The 25 Best Inventions of 2017
Newsweek
Trump Claims Access Hollywood Tape Is Fake
Business Week
Business Is Booming for America’s Survival Food King
The Economist
Inheritance: The case for taxing death
Der Spiegel
Stude Null (Angela Merkel)
L'Espresso
Chi paga. Chi manipola.
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