October 28, 2009 Nº 835 - Vol. 7
"Life is not fair; get used to it."
Bill Gates
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On European Union's first-ever president
The EU leaders, at a meeting in Brussels on Thursday and Friday, will discuss who should fill the top jobs of a new EU that is emerging from a treaty to streamline decision-making in the 27-nation bloc. A final decision, also on the future EU foreign minister, may not be announced until December. On Tuesday, the Czech Republic's Constitutional Court postponed a ruling on whether the EU reform treaty complies with the nation's constitution. Supporters of President Vaclav Klaus, an ardent euro-skeptic, have asked for such a ruling, holding up final ratification of the pact that the other 26 EU nations have already approved. Even though the process has not officially begun, the haggling and bullying for top jobs has already begun. The leaders of Britain, France and Germany back Blair, who was Britain's prime minister from 1997 to 2007, for the job of chairing European Council meetings and representing the EU to the outside world. But the Dutch, Belgian and Luxembourg governments say he lacks enthusiasm for more European integration. "The (EU) president must be able to take on board the plans, ideas and dreams of countries large and small (and) facilitate the Franco-German" cooperation that has long been the bedrock of the EU, Juncker told. In recent weeks, other names have been floated in opposition to Blair. They include Paavo Lipponen, a former prime minister of Finland; Herman Van Rompuy, the current Belgian prime minister; Felipe Gonzalez, a former prime minister of Spain; and Jan Peter Balkenende, the Dutch prime minister.
Brazil's industrial production still below pre-crisis level
The president of Brazil's Central Bank said Tuesday that the country's industrial production was still below the level posted before the global financial crisis. Meirelles said the economy had already started to return to the "same level of activity from before the crisis." He explained that resumed investments and new projects had helped the recovery in Brazil while other countries were experiencing an unsteady recovery. "The expectations for the 2010 GDP are up," he added. Meirelles cited as evidence that the country's unemployment rate had already been reduced to the level registered a year ago. He explained that unlike other countries, Brazil's economy had not become too dependent on fiscal stimuli packages or changes in interest rates.
Losing associate lockstep
It’s still business as usual at the nation’s big law firms: on a broad level, they’re all still playing follow-the-first-mover. Pay cuts followed by one round of layoffs followed by another round of layoffs. But scratch a little deeper and you’ll see something interesting going on: on a micro-level, firms are making significant changes to their structures, changes that don’t necessarily follow one model. Consider, for instance, associate pay and associate advancement. A handful of firms have tinkered with the old lockstep model, but each has done so with its own little twist. Howery slashed salaries and billable-hour requirements for young associates. Orrick split up its associates into three separate tracks. On Tuesday, Reed Smith announced yet another way to skin the cat. Starting early next year, the firm will go to a sort of hybrid lockstep/merit-based pay system for associates, called CareeRS. Associates will be categorized as junior, mid-level or senior depending not on how many years they’ve served, but on whether they’ve demonstrated certain “core compentencies.” That is, a particularly talented third-year associate might achieve the “mid-level” designation; a fifth-year on a slower pace might still be a “junior.” According to the firm’s chairman, Greg Jordan, the move was a response, at least in part, to client demands. “The most painful conversation you can have with a client is to tell him that that all of a sudden, you’re charging more for an associate just because the associate has aged a year,” says Jordan. “Something needed to change. The recession made that clear.”
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1- Hawaii Supreme Court orders monthly closures to ease financial problems (click here)
2- U.S. closer to filing complaint against Intel: sources (click here)
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US urges China military dialogue
US Defence Secretary Robert Gates has called for a lasting dialogue with China's military after meeting a top Chinese general at the Pentagon. Gates told China's Gen Xu Caihou the two sides should "break the on-again, off-again cycle" in their military relationship. The talks marked the highest bilateral military contact since 2006.
China to tighten rules on personal loans in bid to prevent misuse of funds
China's banking regulator said it plans to tighten rules for personal loans to prevent the misuse of funds lent for auto and real-estate purchases.
Weil Gotshal targets China-related mergers with Simmons & Simmons hires
Weil Gotshal & Manges LLP, the third-ranked legal adviser on mergers and acquisitions, hired Henry Ong and Jasson Han from London-based law firm Simmons & Simmons to target an increase in China-related deals.
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US-Colombia base deal 'this week'
Colombian Defense Minister Gabriel Silva has announced that a new military deal between Colombia and the US could be signed as early as Friday. Under the accord, the US will have access to seven Colombian military bases. The deal has caused alarm among some of Colombia's neighbors, who object to an increased US military presence.
Case spurs pharmacies' fears of lawsuits over drug abuse
A lawsuit now pending before the Nevada Supreme Court, may be the first U.S. case to address whether pharmacies can be held liable when a customer causes a fatal car accident. The case, Sanchez vs. Wal-Mart Stores et al, asks whether drugstores must use information at their disposal to protect the public from potentially dangerous customers. The Nevada case is part of a broader movement under way to place more responsibility for patients' prescription-drug use on pharmacies.
E.U. plan could lead to lower cost international calls
A proposal urging member countries to reserve a uniform slice of broadcast spectrum for a pan-European mobile broadband network is likely to gain momentum.
Brazil Congress takes up proposed new oil laws
Brazil's Congress on Tuesday began debating the government's proposal to overhaul oil laws governing vast new offshore reserves that could turn the country into a major oil exporter. At stake is one of the country's largest industrial development projects ever, requiring an estimated $400 billion to develop vast new subsalt oil fields.
Mexico's all-female cab service
A taxi service with all female drivers and exclusively for the use of women has begun in the Mexican city of Puebla. The service is meant to provide an alternative for women fed up of disrespectful male drivers - and the only males allowed in the pink cabs are boys under the age of 12.
US charges two for 'Denmark plot'
Two men from Chicago have been charged with plotting overseas attacks, including on the Danish newspaper which published cartoons about Islam. They say he was infuriated by the paper's publication of cartoons of the Prophet Mohammed in 2006. The cartoons sparked angry, sometimes violent protests from Muslims in several countries.
Karadzic boycotts second day of his UN genocide trial; prosecution opens
Karadzic, accused of genocide against Bosnia's Muslim population, stayed away from the second day of his UN trial in The Hague as the prosecution made its opening statements. The court ruled the trial in The Hague could resume despite Karadzic boycotting it for a second day. Prosecutors at the genocide and war crimes trial of ex-Bosnian Serb leader Karadzic have branded him the leader of an ethnic cleansing campaign. In opening remarks, prosecutors said Karadzic had "harnessed the forces of nationalism, hatred and fear" to pursue his vision of a state without Muslims. Karadzic denies all charges, which relate to the Bosnian war of the 1990s. The former Bosnian Serb leader, who is representing himself at the trial, says he still needs at least nine months to prepare his defense.
Castro's sister 'spied for CIA'
A sister of Cuba's former long-time leader, Fidel Castro, has admitted spying for the CIA in the 1960s. Juanita Castro, who now lives in Miami, said she had gathered sensitive information for the US for three years.
Scientologists convicted of fraud
A French court has convicted the Church of Scientology of fraud, but stopped short of banning the group from operating in France. Two branches of the group's operations and several of its leaders in France have been fined. The case came after complaints from two women, one of whom said she was manipulated into paying more than 20,000 euros ($ 30,000) in the 1990s.A Scientology spokesman said the verdict was "all bark and no bite".
US consumer confidence takes hit
US consumer confidence fell sharply and unexpectedly in October as fears about future job prospects increasingly preyed upon Americans. Consumers remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays,
Angola arms traffickers convicted
The son of ex-French President Francois Mitterrand and an ex-government minister have been convicted for their roles in illegal arms sales to Angola. Jean-Christophe Mitterrand was given a two-year suspended sentence, and ex-Interior Minister Charles Pasqua was jailed for one year by the Paris court. They were convicted of accepting bribes to facilitate arms deals to Angola in 1993-98, in breach of French law. Two key figures were sentenced to six years each in their absence.
Is your Facebook profile as private as you think?
Much has been made in recent years of the so-called Facebook generation, which supposedly consists of 20-somethings who like to go online and spill their guts without regard for privacy. The reality is more complex. Yes, social network users post a lot of personal information. But they're sharing it within a circle of online "friends." And they fiercely resist outsiders' attempts to get a peek. Social network users assume a degree of privacy within their circle of friends — but it's not a safe assumption to make. A social network account can be seen by the company that runs the service, of course, but there's also the possibility of third-party snooping. Quizzes are very common on Facebook and they should be a cause for concern. What people often don't realize is that these quizzes are applications. Just like games and other entertainment, they're programs that run in a user's Web browser. You think that all you're doing is answering a few innocent questions, but in fact, you're opening up your entire profile and almost all your personal information to whoever wrote the quiz. That means your photos, political views, even sexual preferences can be sent back to the stranger who wrote the quiz application.
Iran sends mixed messages on nuclear deal
A deadline has passed, but Iran says it won't have an answer on a proposed nuclear deal for a couple of days. Meanwhile, reports from Tehran show a confusing array of positions, from indignant rejection of the deal to suggestions of compromise.
Eurozone lending sees first fall
Bank lending to companies operating in the eurozone fell in September for the first time on record, according to the European Central Bank. Lending fell at an annual rate of 0.3%, compared with a modest annual growth of 0.1% in August. The fall comes at a time when European governments are pumping money into their economies to try to lift lending. The worry is that weak lending from banks will hinder any recovery in the eurozone economy.
Former Bear Stearns executives on trial
Cioffi and Matthew Tannin are on trial for misleading investors in the months before their hedge funds collapsed in 2007. Federal prosecutors are using selected quotes from e-mails written by the two former Bear Stearns managers to make their case.
Overvalued Real prices Big Mac above London as Goldman sees rally
The Brazilian real's 33 percent, world-beating rally this year pushed up the price of a Big Mac in Sao Paulo above that in New York and London, a measure that would indicate the currency is overvalued.
Credit cards from largest banks would break new law
None of the credit cards offered online by the 12 largest U.S. banks would meet requirements of new federal curbs on the industry's rates and fees, a report says. All of the cards surveyed used practices considered "unfair or deceptive" by the Federal Reserve, according to the report released today by the Philadelphia-based nonprofit organization. The study examined almost 400 cards advertised by banks and credit unions and compared terms for cards offered in July 2009 and December 2008. The Credit Card Accountability, Responsibility and Disclosure Act, which takes effect in stages, will require banks to apply payments to higher-rate balances first, limit rate increases and ban practices such as "universal default," or raising rates based on a missed payment with another lender.
Obama to send envoy to Honduras this week in bid to end political standoff
Obama will send the U.S. State Department's top Latin American diplomat to Honduras tomorrow to try to end a stalemate in talks and resolve the country's four-month-old political crisis.
US Chamber files suit against 'yes men' for fake briefing
The U.S. Chamber of Commerce filed a civil suit in a federal court against the group called the "Yes Men" for a fake press briefing the group held last week at the National Press Club. The Chamber alleges in the complaint the Yes Men used its copyrighted emblem for a fraudulent press release, conference and Web site, in violation of trademark law. Acting as representatives of the Chamber, the group falsely said the Chamber had switched its position on climate change policy. The group has claimed responsibility for a raft of public hoaxes on other companies in recent years. Following the stunt, the Yes Men launched for theatrical release in the U.S. a movie about their exploits. The chamber said the lawsuit was filed after lawyers representing the "Yes Men" refused to decommission the fraudulent Web site, "another bold attempt to increase sales of merchandise and tickets to their new movie." "The Chamber is a strong proponent of free speech and encourages public debate on issues of the day," said Steven Law, the Chamber's chief legal officer and general counsel. "However, the law is clear that you can't misappropriate others' intellectual property for personal financial gain."
Stoning Law in Indonesia's Aceh may be cut before introduction
Indonesian councilors from the province of Aceh will revise a law under which adulterers could face stoning to death, a local legislator said. Aceh's legislature on Sept. 14, in its last month in power, passed a law on criminal proceedings in the province based on Islamic Shariah that included articles allowing the punishment of stoning. Islamic parties dominated the council then. Aceh is the only Indonesian province that can put Shariah elements into its criminal code and take offenders to Shariah courts. The province's governor has refused to sign off on the law and leading parties in the new local council that began to sit on Sept. 30 don't want to see the stoning punishment exercised, said Hasbi Abdullah, the temporary leader of the new council.
US religious freedom report criticizes Islamic nations
The US Department of State (DOS) released its annual Report on International Religious Freedom Monday, criticizing Islamic countries for limiting religious expression. The report found that countries such as North Korea and Iran have attempted to prevent religious defamation as a way to limit religious expression. Secretary of State Hillary Clinton said that freedom of religion is essential not only in the US but in every society, and limiting an individual's right of expression reduces that freedom.
Kuwait Emir Urges MPs and Government to Halt Feuds
Asharq Al-Awsat, Pan-Arab daily, London, England
Envisioning an alternative Egypt, post-Mubarak
Haaretz, Liberal daily, Tel Aviv, Israel
MIDEAST: 'It's the Occupation, Stupid'
IPS Middle East, International cooperative of journalists, Rome, Italy
Soccer Star's Death Verdict Overturned
Khaleej Times, English-language daily, Dubai, United Arab Emirates
Iraq- Pure water tank constructed for ID64b
Middle East North African Network, Online financial portal, Amman, Jordan
Six U.N. Staff Killed in Taliban Attack on Kabul Hostel
Nahamet, Online news portal, Beirut, Lebanon
Panel formed on Lebanon poll law
Saudi Gazette, English-language daily, Riyadh, Saudi Arabia
Turkey lauds Iran's positive approach to nuclear talks
The Daily Star, Independent daily, Beirut, Lebanon
Relatives of Iran vote detainees hold rally
Times of Oman, English-language daily, Muscat, Oman
Many dead in Peshawar explosion
BBC News, Centrist newscaster, London, England
Heineken improves full-year outlook
BreakingNews.ie, Online news portal, Cork, Ireland
No penalty for ?flipping' homes
Daily Express, Conservative tabloid, London, England
Girl, 17, found murdered in field lured to her death by Facebook predator
Daily Mail, Conservative daily, London, England
TeliaSonera grows Q3 EBITDA 9.1%, maintains FY outlook
DMeurope, Online news portal, Amsterdam, Netherlands
Last-ditch bid to rescue Merseytram scheme
icLiverpool, Online news portal, Liverpool, England
Drink drive shame of alcohol charity worker
Manchester Online, Independent daily, Manchester, England
Anti-communist demonstration violently suppressed twenty years ago in Prague, just three weeks before Velvet Revolution
Radio Prague, Online news portal, Prague, Czech Republic
Dozens Killed In Pakistan Bomb Blast
Sky News, Independent newscaster, Middlesex, England
Scraping Swastikas off the Streets: Germany's Anti-Nazi Cleaning Lady
Spiegel International, Liberal newsmagazine, Hamburg, Germany
UN workers killed in dawn raid on Kabul guesthouse
The Guardian, Liberal daily, London, England
Bank shares fall over EU aid demands
The Irish Times, Centrist daily, Dublin, Ireland
Peshawar bomb kills 57 as carnage overwhelms city market
The Telegraph, Conservative daily, London, England
Pilots who missed destination lose licences
Times Online, Conservative daily, London, England
Employer of Indonesian maid arrested over her death
Antara News, News agency, Jakarta, Indonesia
10th Seoul International Financial Forum Kicks Off
Chosun Ilbo, Conservative daily, Seoul, South Korea
India ready to talk to Pakistan on all issues: Singh
Dawn, English-language daily, Karachi, Pakistan
Show sincerity in eliminating terror: Manmohan to Pak
India Express, News portal, Mumbai, India
American prof to teach Hindi in Mumbai
India Times, Conservative daily, New Delhi, India
Be careful not to bend your gender in Japanese
Japan Times, Independent centrist, Tokyo, Japan
Cops question Ronnie Liu's aide
Malaysian Star, Online news portal, Selangor Darul Ehsan, Malaysia
Gunmen attack Athens police station
New Zealand Herald, Conservative daily, Auckland, New Zealand
Mauritania says 14,955 refugees in Senegal return home
People's Daily Online, English-language, Beijing, China
Governator sends lawmaker special message
Sydney Morning Herald, Centrist daily, Sydney, Australia
India, China decide to step up dialogue
The Hindu, Left-leaning daily, Chennai, India
Ping An fortunes reverse
The Standard, Business daily, Hong Kong
Stamp of disapproval
Antigua Sun Online, Independent daily, St. John's, Antigua
Machel Montano and Beenie Man - friends for life
Caribbean News Portal, Online news aggregator
Stanford investors seek to block Antigua's IMF loan
Caribbean360, Online news portal, St. Michael, Barbados
Financial body slams budget
Cayman Net News, Online news portal, George Town, Cayman Islands
Time's up for UN's report on cement plant, Dominican scientists say
Dominican Today, Independent daily, Santo Domingo, Dominican Republic
RIGHTS-CHILE: Stop Violence Against Indigenous Children - UNICEF
IPS Latin America, International cooperative of journalists, Rome, Italy
Mayor lights up Jamaica Public Service (JPS) - Power company tackled for giving meters to 'squatters' on Hellshire Beach
Jamaica Gleaner, Independent daily, Kingston, Jamaica
Peru's Government allocates US $130 million for maintenance of Cajamarca roads
Living in Peru, News portal, Lima, Peru
Car bomb kills 57 in Pakistani city of Peshawar
The Globe and Mail, Centrist daily, Toronto, Canada
Insider to design Ex hotel
Toronto Star, Liberal daily, Toronto, Canada
Cops' brother suspected in gun heist
Trinidad Guardian, Independent daily, Port-of-Spain, Trinidad
Guinea forces 'planned crackdown'
BBC News, Centrist newscaster, London, England
Heartland, Mazembe clash rescheduled for Nov. 1
CongoPlanet.com, Independent online news aggregator
60 year old gets 10 years over defilement
Daily Monitor, Independent daily, Kampala, Uganda
Windows 7 launched in Kenya
Daily Nation, Independent daily, Nairobi, Kenya
Five institutions support Brong Ahafo golden jubilee
GhanaWeb, Online news portal, Amsterdam, Netherlands
Angolagate players jailed
iafrica, Online news portal, Cape Town, South Africa
'Racism shown by Jansen must be killed'
Independent Online, News portal, Cape Town, South Africa
Ethiopia: OLA killed 5 EPRDF troops - OLF
Jimma Times, Online news portal, Jimma, Ethiopia
Blue Bulls trio to mark milestone in Currie Cup final
Mail & Guardian Online, Liberal, Johannesburg, South Africa
Govt 'won't intervene' on rand
News24.com, Online news portal, Cape Town, South Africa
Excitement as Microsoft releases Windows 7
Vanguard, Independent daily, Lagos, Nigeria
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