September 21, 2011 nº 1,092 - Vol. 9

"The private control of credit is the modern form of slavery."

Upton Sinclair

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Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at www.migalhas.com/latinoamerica

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  • Top News

Obama to meet Middle East leaders

Obama will urge his Palestinian counterpart Mahmoud Abbas on Wednesday to drop a bid for UN recognition of statehood. He will also meet Israeli PM Benjamin Netanyahu amid frantic diplomacy aimed at averting a crisis. Abbas is set to launch the statehood bid on Friday, after his address to the United Nations General Assembly, with a written request to Secretary General Ban Ki-moon. But Obama will ask him not to push for a vote in the Security Council, where the US has promised a veto, to give the "quartet" of mediators time to produce a statement that would be the basis for resumed peace negotiations. If his request is approved by Ban, the Security Council would then examine and vote on it. In order to pass, the request must get the votes of nine out of 15 council members, with no vetoes from the permanent members. The US has said it will use its veto. Should the Palestinian bid fail, Abbas could ask for a vote of the General Assembly for enhanced observer status, which is enjoyed by others such as the Vatican, in which case no veto would be possible. While UN recognition would have largely symbolic value, the Palestinians argue that it would strengthen their hands in peace talks with Israel, especially on the final issues that divide them. These are the precise location of the border, the status of Jerusalem, the right of return of Palestinian refugees, water, and security.

Greece bailout talks 'progress'

European Union says 'good progress' is being made with Greece towards agreeing the release of bailout money. The so-called troika of inspectors suspended a review of Greece's progress in meeting its budget reduction measures but had unsettled the global financial markets for days. Greece has been under pressure to plug a budget hole of more than 2bn euro to meet the terms of a 110bn euro bailout from the troika members.

Brazil says europe must act before BRIC's can help

Brazil has set a high bar for providing support to the euro zone under a potential plan that would involve other large developing nations, demanding that the common currency bloc first find concrete solutions for its sovereign debt crisis. Europe must take concrete steps to resolve the sovereign debt problems of Greece and other countries before developing nations can offer their own assistance, Brazilian Finance Minister Guido Mantega said. "Europe has to save itself because it has the tools to resolve the sovereign debt problem of Greece and other countries and the problem of bank weakness." Mantega echoed views expressed by Chinese officials, saying that efforts by developing countries are predicated on significant action from European authorities. "If they don't, the emerging countries... will have little to do because the central issues aren't resolved," he said.

Obama committed to closing Guantanamo

US attorney general Eric Holder said Tuesday president Barack Obama remains committed to closing the detention facility at Guantanamo Bay, despite political opposition. At the European Parliament in Brussels, Holder stated the administration's commitment to closing Guantanamo before the next presidential election. Obama has faced criticism for not closing Guantanamo after issuing an executive order in January 2009 directing that the military prison be closed "as soon as practicable, and no later than 1 year from the date of this order." However, Congress blocked the executive order and barred the transfer of detainees to the US. US Defense Secretary Robert Gates said at a congressional hearing in February that Guantanamo Bay is unlikely to be closed because of security concerns.

Let's license corporate directors

Many occupations require licenses to prove competency, including accountants, investment professionals, physicians, private investigators and security guards. While licensees are not necessarily excellent at what they do, a license does guarantee that a licensee has fulfilled the requirements for a given role determined by a reputable authority. So, why not require licenses for directors of publicly traded corporations to confirm their competency in corporate governance? Governance can be defined as the "exercise of authority or control." A member of a board of directors is "one of a group of persons chosen to control or govern the affairs of a company." In other words, the oversight of management on behalf of a company's shareholders is vested in the board of directors. While the shareholders elect the board, and there is an accelerating trend with publicly traded companies to vote on each director every year, there are no specific requirements and no required license for a director of a public company. An important step to help encourage good governance and help increase the public's confidence in the oversight of our country's companies could be to require licenses for directors of publicly traded companies in the United States.

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  • Crumbs

1 - $16 muffins, and taxpayers pick up the ab - click here.

2 - Don't Ask, Don't Tell repeal goes into effect - click here.

3 - Scientists go on trial for failing to warn public about L'Aquila quake - click here.

4 - Strauss-Kahn denies violence in sex assault cases - click here.

5 - Denied mark for 'Tweet,' Twitter pecks out complaint - click here.

6 - Don't mess with Dilma - click here.

7 - Brazilian police arrest suspects in Amazon murders of environmentalists - click here.

8 - Sony asks gamers to sign new terms or face PSN ban - click here.

9 - Obama deficit plan to call for $1.5tn in higher taxes - click here.

10 - Obama signs patent reform Act - click here.

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  • MiMIC Journal

China's internet music industry, you pay for music now

The winds of change are blowing in China's online music industry. The Ministry of Culture is seriously enforcing patent law. On September 15th, all websites and search engines must delete any pirated content including multimedia embeds and widget attachments.

Chicken trade dispute between US and China

The US has opened a new front in its battle for better access to Chinese markets by asking the World Trade Organization to look at Beijing's taxes on the billion-dollar chicken trade. Washington claims China violated trade rules by imposing tariffs on US chicken imports, threatening farmers' jobs.

China paving Brazil silk road with hard-to-beat prices for vehicles

Chinese automakers are targeting cost-conscious consumers in Brazil, taking sales from General Motors, Fiat and Ford. As the second-largest emerging market after China and the fifth-biggest car market, Brazil is key for China's automakers as they start a world expansion. Chery Automobile Co. and others are trying to follow in the path of Korean makers such as Kia and Hyundai and become global players.

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  • Historia Verdadera

CIDH x Chávez

El presidente de Venezuela está furioso con la Corte Internacional de Derechos Humanos, luego que este tribunal habilitó al líder opositor para las elecciones de 2012, por lo que sugirió crear un tribunal de Derechos Humanos de los países miembros del Unsur. (Presione aquí)

Bolivia - Chile

l gobierno de Evo Morales planteó a su similar chileno anular la concesión del puerto de Arica y entregarlo a administración boliviana para garantizar el libre tránsito evitando encarecer el costo de uso del puerto, hoy bajo tuición privada que propone subir costos en 109 por ciento. (Presione aquí)

Demanda

En Argentina presentan denuncian penal contra el canta autor puertorriqueño Chayanne por supuesta estafa. (Presione aquí)

  • Brief News

IMF: Economy enters 'dangerous phase'

The global economy has entered a "dangerous new phase", the IMF says, warning that the US and Europe could fall back into recession. The IMF believes global growth will shrink to 4% in 2012, from 5% last year, on factors such as "major financial turbulence in the eurozone". The US - the world's largest economy - is likely to have weak growth "for years to come".

Japan defense hit by cyber attack

Japan's biggest weapons maker is investigating a cyber attack, believed to be the first of its kind against the country's defense industry.

New law bans warrantless cell phone searches

A new law now requires law-enforcement officers in that state to obtain a warrant before searching the cell phone of a person placed under arrest.

European court rules on Yukos case against Russia

The European Court of Human Rights has ruled in a case between the oil company Yukos and the Russian government - but not come down clearly on either side. It dismissed claims that Russia had abused the law to destroy the firm, but found its legal rights were violated.

A weak board at Yahoo stumbles in a series of missteps

The Yahoo board appears to have no vision or patience, leaving the company directionless and allowing outside players to push it in inopportune directions.

SEC refers ex-counsel's actions on Madoff to Justice Dept.

Actions taken by David M. Becker, the former general counsel of the Securities and Exchange Commission, in the Bernard L. Madoff matter are being referred to the Department of Justice for a possible criminal investigation to determine whether they ran afoul of federal conflict-of-interest laws.

US, Brazil to launch open government partnership

Obama and Dilma Rousseff would co-chair a meeting in New York to launch an open government partnership, with the objective to make governance more accountable to citizens, more transparent and to root out corruption.

Lawsuits target claims for 'all natural' foods

A spate of consumer lawsuits alleges that food companies are playing fast-and-loose with the "all natural" designation. But the federal government itself concedes the rule book is vague.

DOJ won't brief lawmakers on AT&T merger

The Justice Department said it could not disclose nonpublic information about a matter in active litigation.

Airlines profits to drop 29% in 2012

Profits at airlines will drop by almost a third next year. The International Air Transport Association said the industry's earnings will likely fall to $4.9bn in 2012, from $6.9bn this year. Since it expects revenues to increase, this is mainly due to rising costs.

Italy has debt rating cut by S&P

Italy has had the rating of its creditworthiness cut, the latest move in the European debt crisis. Standard and Poor's cut its rating by one level to A from A+. The agency cited Italy's weak growth, criticized Rome's response to the debt crisis so far and said political uncertainty could hamper it in future.

In lifting Chevron stay, 2nd Circ. sees (rain)forest, not trees

A US appeals court lifts a block on Ecuadoreans collecting multi-billion dollar damages from Chevron in a long-running legal battle over Amazon oil pollution.

With repeal of 'don't ask, don't tell,' an era ends

A policy known as "don't ask, don't tell" banning open homosexuality in the US Armed Forces is repealed, nearly two decades after it was introduced.

Al-Qaeda man sentence 'too short'

A US appeal court has ruled that a 17-year sentence for convicted terrorism plotter Jose Padilla is too lenient. The court ordered a new sentencing hearing for Padilla, who was jailed in 2007 for terrorism-related offences. Padilla's al-Qaeda training gave him "a heightened risk of future dangerousness", the majority of the judges wrote in their statement. Padilla attempted to sue two defense secretaries for being jailed for three years without being charged.

Settlement reached on eve of Sept 11 airline trial

The lawsuit had accused United Airlines of negligence in allowing the five hijackers to board United Airlines Flight 175, which slammed into the World Trade Center, with weapons.

Lawsuits may be limited over UBS rogue trades

The financial services company is under pressure for failing to monitor an equity trader suspected of causing a $2.3 billion loss for the Swiss bank.

Eight offshore banks under grand jury scrutiny

Eight offshore banks are under federal grand jury investigation for facilitating tax evasion by U.S. citizens as part of a probe the Justice Department said has dealt "fabled Swiss bank secrecy a devastating blow."

Law firm asks court to toss $77 m suit by former associate

Kasowitz Benson Torres & Friedman has asked a state judge to throw out a $77-million lawsuit by a first-year attorney who claimed he was fired for bragging about his "superior legal mind."

Rare charge is unmasked

New York City police monitoring a social media-fueled protest in Manhattan's Financial District have charged demonstrators with violating an obscure, 150-year-old state statute that bans masked gatherings. Since Saturday, five people connected with the protest to "occupy" Wall Street have been issued a violation for running afoul of the anti mask law, according to police.

  • Daily Press Review

Kabul attack kills ex-Afghan president
Al Jazeera, Doha, Qatar

Abbas rejects US corruption allegations
Asharq Al-Awsat, Pan-Arab daily, London, England

PLO council in show of support for Abbas at UN
Egyptian Gazette, English-language, Cairo, Egypt

IDF Chief of Staff: There are no signs of impending West Bank violence
Haaretz, Liberal daily, Tel Aviv, Israel

Egypt bars Islamist terror group from forming political par
JPost, Conservative, Jerusalem, Israel

Clegg to defend economic strategy
BBC News, Centrist newscaster, London, England

Turban bomb kills key Afghan leader
CNN International, London, England

35 murder victims dumped in street
Daily Express, Conservative tabloid, London, England

Michael Gove probed over department's use of private emails
Daily Mail, Conservative daily, London, England

Naomi Campbell steals the spotlight in sparkling dress while Eva Herzigova sports mismatched ensemble at Pirelli party
Daily Mail, Conservative daily, London, England

Israel's likely next step?
EuroNews, International news, Ecully Cedex, France

AFGHANISTAN: Head of Afghan peace council killed in Kabul suicide attack
France 24, Issy-les-Moulineaux, France

Obama meets Erdo?an after Ankara bomb blast
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Afghan peace effort in tatters as turban bomb kills ex-president
Independent The, London, England

Pravoye Delo hits ruble
Moscow News The, Independent, Moscow, Russia

Planning changes 'will make gypsy camps easier'
Telegraph The, Conservative daily, London, England

Elizabeth Taylor's dresses to go up for auction
Telegraph The, Celebrity news, London, England

Warning of flash floods
Bangkok Post, Independent, Bangkok, Thailand

Lottery scammers will be punished: Wu
China Post, English-language daily, Taipei, Taiwan

N.Korea's Underground Economy Booming
Chosun Ilbo, Conservative daily, Seoul, South Korea

Train derails in Germany, 50 hurt
Hindustan Times, New Delhi, India

Telangana stir forces 2-hr power cut
India Times, Conservative daily, New Delhi, India

Woman nabbed for counterfeiting bills
Japan Times, Independent centrist, Tokyo, Japan

FBI bureau analyst gave different lecture
New Zealand Herald, Conservative daily, Auckland, New Zealand

Israel still open to negotiations with Palestinians
People's Daily Online, English-language, Beijing, China

Volcano on Alaska's remote Aleutians oozes lava
Straits Times, Pro-government, Singapore

Man climbs over White House fence
Taiwan News, English-language daily, Taipei, Taiwan

China Vice-Premier Li: Global risks rising
The Economic Times, Business, Mumbai, India

Air Canada, flight attendants reach tentative deal
Canadian Broadcasting Centre, Toronto, Ontario

'Ethical oil' ad sparks war of words between Ottawa, Saudis
Globe and Mail The, Centrist daily, Toronto, Canada

Economic Index Shows Australia's Growth Momentum Gaining Pace
International Business Times, Business news organization, New York, U.S

China Breaks Latin America's 'Hundred Years of Growth Solitude'
IPS Latin America, International cooperative of journalists, Rome, Italy

Stocks steady ahead of Fed, euro recovers
Reuters, Business News, New York, U.S

Typhoon nears Tokyo, Toyota to close plants
Reuters, World News, New York, U.S

Sloppy play by Leafs results in 4-0 loss as Reimer makes pre-season debut
Toronto Star, Toronto, Ontario

AU recognises Libya NTC authority
BBC News, Centrist newscaster, London, England

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