August 13, 2007  nº 527  -  Vol. 5  
 

“In communications, familiarity breeds apathy.”

 William Bernbach



Insider's view: see how local concerns shape up the global world. Read the daily press review in Migalhas International

  • Top News

ECB injects cash for third day to avert credit crunch

The European Central Bank added emergency funds to the banking system for a third trading day and said money markets are returning to normal. The ECB loaned 47.7 billion euros ($65 billion) to banks, down from 61.05 billion euros on Aug. 10. The Frankfurt-based central bank said it “notes that money market conditions are normalizing and that the supply of aggregate liquidity is ample.” Japan's central bank injected 600 billion yen (US$5 billion) into money markets Monday.

Small American investors feel less pain as stocks slide

The wild swings in the stock market over the last few weeks have reawakened memories of the technology crash of 2000 in which many small investors lost their savings. But this time around, market experts say, ordinary investors seem less vulnerable than the professionals who have taken a beating. The excesses in the financial markets are now generally believed to reside in complex mortgage securities and other esoteric investments, not in the traditional stock and bond markets where average Americans put their money. Over all, analysts say that the situation may well get worse before it gets better.

Reported decrease in foreign surveillance prompted new US intelligence law

A few weeks before passing the Protect America Act 2007, members of Congress were briefed by intelligence officials that intercepts of foreign-based communications had declined to 25 percent of previous levels due to oversight by the Foreign Intelligence Surveillance Court (FISC), the New York Times reported Saturday. Just days before the passage of the surveillance bill, US House Minority Leader John A Boehner (R-OH)  publicly disclosed a ruling from the FISC that Boehner said restricted the ability of intelligence agencies  to intercept communications between suspected terrorists in foreign countries because the court required a warrant when communications passes through US-based telecommunication systems. Intelligence officials also told members of Congress that there was increased "chatter" between suspected terrorists.

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  • MiMIC Journal

Chinese Toy-Factory Owner Commits Suicide Amid Recall

The owner of a Chinese toy factory at the center of a major recall by Mattel Inc. earlier this month committed suicide, according to a Chinese public security official. Last week, the American toy giant identified Lee Der as the factory that made nearly a million toys, including characters from Sesame Street and Nickelodeon, which were recalled about two weeks ago because they may have been tainted with lead paint.

Chinese Tiananmen Square protester released from jail 

China has released a prisoner initially sentenced to death for burning debris during the 1989 Tiananmen Square Protests, the Hong Kong-based Information Center for Human Rights & Democracy  reported Friday. Former construction worker Xi Haoliang, who the center said was released Tuesday, was among an estimated 12 individuals still in detention for their alleged involvement in the protest, which spanned nearly two months and involved thousands of students and laborers.

  • Brief News

East German 'licence to kill' found

Border guards in East Germany during the Cold War were given clear orders to shoot at attempted defectors, including children, a senior official says.

A newly discovered order is the firmest evidence yet that the communist regime gave explicit shoot-to-kill orders. A criminal investigation and possible murder charges are to be brought against whoever drew up the order, saying nearly all the Stasi's 91,000 former employees had gone "practically unpunished".

Harry Potter teen will not face charges

A French teenager who was arrested for publishing his own complete translation of the latest Harry Potter novel online will not be prosecuted. He told police that he had not sought to make money off his unauthorised translation. The decision to not sue for damages was made in agreement with JK Rowling, said the book's French publisher, Gallimard. Investigators were reportedly struck by the "near-professional" quality of the boy's work.

Chavez tour ends in energy deals

The presidents of Bolivia, Venezuela and Argentina have signed joint energy deals worth more than $1bn in Bolivia. Chavez has pledged to use Venezuela's oil wealth to help guarantee the energy needs of his allies in Latin America.

Momentum Builds in Darfur Peacekeeping Efforts

A week after the U.N. Security Council authorized a huge peacekeeping force for Darfur, U.N. planners say they are on track to deploy a primarily African force, as Sudan has demanded. But a top State Department official says the Sudanese are going to have to accept anyone who volunteers to protect the millions of displace civilians.

Nations Dispute 'Arctic Sovereignty'

There's a struggle under way between Canada, Russia and three other nations to claim resources on the sea bed under the North Pole. Other nations claiming a vested interest in the issue are the U.S., Norway and Denmark.

Brazil to renovate airports in Sao Paulo

The Brazilian government is to appropriate 3 billion reals (1.54 billion U.S. dollars) to conduct emergency renovation on three airports in Sao Paulo. The plan covers the Guarulhos international airport, the Campinas airport and the Jundiai airport, and is aimed at reducing the transport pressure at Sao Paulo's Congonhas airport . Most of the funds will be used to repair the main runway of the Guarulhos airport. The government will decide within one and a half months whether to build a third runway at the airport. The Congonhas airport was designed for a transport capacity of 12 million passengers per year, but had been transporting 18 million per year.  

Argentine Judge Rejects Coke's Complaint Against Danone

An Argentine judge has rejected Coca-Cola Co.'s criminal complaint against some executives of French food and drink maker Groupe Danone SA, concluding that a smear campaign against Coca-Cola's Dasani water caused no damages to its brand. The judge acknowledged Coca-Cola's claim that Danone and its advertising agency Euro RSCG Worldwide, a unit of Havas SA, had orchestrated a smear campaign against Dasani. The judge, however, rejected the Atlanta-based company's claim that the campaign caused damage to the brand's sales because when the campaign started Dasani was a new brand and it didn't yet have any consumers to lose to Danone.

Brokerage Firms, SEC Near Agreement on Fate Of Fee-Based Accounts

U.S. brokerage firms and securities regulators are nearing agreement on the fate of nearly one million fee-based brokerage accounts that a federal court declared were illegal. In March, the court found that the Securities and Exchange Commission improperly exempted fee-based brokerage accounts from the Investment Advisers Act, which requires more disclosure and subjects advisers to stricter requirements than those imposed on brokers.

Bayou Investors Who Got Out Early Lose Their Bid for Pretrial Victory

Investors who got their money out of Bayou Group LLC before it collapsed in 2005, after officers pleaded guilty to fraud charges, have lost a bid to quash lawsuits seeking to make them return the cash to the hedge fund. U.S. Bankruptcy Judge Hardin said last month that he wouldn't grant a pretrial victory to two dozen former Bayou backers who are being sued in an attempt to recover the money. He set out his reasoning Thursday in a series of rulings in the case, which is being watched closely by investors in lightly regulated investment vehicles such as Bayou. Hedge-fund investors are worried the case could set a precedent that exposes them to liability to other investors, if they learn of a fund's troubles in time and pull their money out, while others don't.

Guilty plea could mean alcohol ban for New York's Cipriani restaurants

The owners of a suite of swank New York restaurants — including the historic Rainbow Room — could be booted out of the bar business after pleading guilty to tax cheating. The State Liquor Authority plans to try to revoke the Cipriani restaurant group's liquor licenses in New York State, the agency's chief lawyer, Thomas Donohue, said Friday. The Ciprianis, and their U.S. restaurant group, all admitted last month to knowingly filing false tax returns for 2003 and 2004. Prosecutors said they avoided millions of dollars in city and state taxes through "sham" deductions.

EU considers telecom 'superregulator'

Following its success in cutting mobile phone roaming fees, the European Commission is weighing a plan that could force some former EU phone monopolies to legally reorganize to open their networks to greater competition. The new EU agency, called the European Telecom Market Authority, would have  the power to override national regulators and pry open domestic markets.

Federal Case

Indian tribes once had control over the dispensation of justice on reservations. But federal laws -- some passed a century apart -- have whittled away that authority, and, critics say, helped create a legal system that's often separate and unequal.

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  • Weekly Magazines Review

Time

Billy Graham, Pastor In Chief. A new book reveals what Graham learned — and what he regretted — in his 50-year ministry to U.S. Presidents

Newsweek

The Facebook effect (a new way for college kids to connect)

Business Week

The Future Of Work: How we will master technology, manage companies, and build careers in the era of the global, 24-7 workplace.

The Economist

America is probably turning left—but not in the way many foreigners (and some Americans) hope.

L’express

Chine: l’envers du miracle.

Der Spiegel

Preußens wirkliche Gloria
Vor 200 Jahren: Die Erfindung des modernen Staates

  • Daily Press Review

Darfur force 'to be all-African'
BBC News, Centrist newscaster, London, England

Renowned Congolese musician Madilu System dies
CongoPlanet.com, Independent online news aggregator

Veep ends three-day tour in Central Region
GhanaWeb, Online news portal, Amsterdam, Netherlands

South Africa: Lesbians Targeted for Murder
Human Rights Watch (Africa), International news press releases

Lotz murder: Accused won't testify
iafrica, Online news portal, Cape Town, South Africa

Call for Manto's head
Independent Online, News portal, Cape Town, South Africa

Unemployed group says it's behind ATM blasts
Mail & Guardian Online, Liberal, Johannesburg, South Africa

Lotz: Fred won't take the stand
News24.com, Online news portal, Cape Town, South Africa

Two die in Brazil plane crash
Brazil Sun, Independent online news aggregator

Call to fire Jack Warner after opposition to England 2018 bid
Caribbean News Portal, Online news aggregator

El Salvador: Terrorism Law Misused Against Protesters
Human Rights Watch (Americas), International news press releases

ARGENTINA:  Defenders of Small Farmers Harassed and Threatened
IPS Latin America, International cooperative of journalists, Rome, Italy

Rain pain to wane - Flood warning lifted - St Thomas hardest hit
Jamaica Gleaner, Independent daily, Kingston, Jamaica

Peru: Week in Review, Sunday August 12
Living in Peru, News portal, Lima, Peru

Rove leaving Bush administration
The Globe and Mail, Centrist daily, Toronto, Canada

Act on Khadr, Harper urged
Toronto Star, Liberal daily, Toronto, Canada

Yudhoyono, DPR to consult on independent candidates
Antara News, News agency, Jakarta, Indonesia

Music Chart (2nd Week of August, 2007)
Chosun Ilbo, Conservative daily, Seoul, South Korea

Nuke deal to benefit both parties: PM
India Express, News portal, Mumbai, India

Malaria claims 3 lives in Mumbai
India Times, Conservative daily, New Delhi, India

Ex-PM Mori gives Abe tips on Cabinet reshuffle
Japan Times, Independent centrist, Tokyo, Japan

Captains fined for ferry collision
Malaysian Star, Online news portal,  Selangor Darul Ehsan, Malaysia

Somare wins fourth term in PNG
New Zealand Herald, Conservative daily, Auckland, New Zealand

Taliban says to free two S. Korean hostages at 1130 GMT
People's Daily Online, English-language, Beijing, China

Ruddock names new High Court judge
Sydney Morning Herald, Centrist daily, Sydney, Australia

Discussion unlikely under voting rule
The Hindu, Left-leaning daily, Chennai, India

Police inspecting airport protest
BBC News, Centrist newscaster, London, England

Irish women's university side into semi-finals
BreakingNews.ie, Online news portal, Cork, Ireland

Madeleine's parents: 'We'd rather know she's dead than live in limbo'
Daily Mail, Conservative daily, London, England

Culture in crisis?
icLiverpool, Online news portal, Liverpool, England

In Venice, turmoil over a new bridge
International Herald Tribune, Independent daily, Paris, France

Boat trip was no picnic
Isle of Wight County Press, Independent daily, Isle of Wight, England

'Wilson extraordinary' - Yvette
Manchester Online, Independent daily, Manchester, England

United axe Macca
News & Star, Independent daily, Carlisle, England

Green light for one-way system
North-West Evening Mail, Independent daily, Cumbria, England

The true taste of summer
Radio Prague, Online news portal, Prague, Czech Republic

M40 Murder: Police Hunting Green Rover
Sky News, Independent newscaster, Middlesex, England

Poland's President Throws Out Four Ministers:  What's Next for Warsaw?
Spiegel International, Liberal newsmagazine, Hamburg, Germany

Rove quits White House
The Guardian, Liberal daily, London, England

Endeavour crew prepares for spacewalk
The Irish Times, Centrist daily, Dublin, Ireland

Forecasters warn of heavy downpours
The Scotsman, Moderate daily, Edinburgh, Scotland

Fugitive costa lot of sterling
The Sun, Conservative tabloid, London, England

MPs query Bush's  'surge' strategy in Iraq
The Telegraph, Conservative daily, London, England

Britain's frontline soldiers have 1 in 36 chance of dying on Afghan battlefield
Times Online, Conservative daily, London, England

High-Level Talks on Major Economic Project for PA
Arutz Sheva, Online, right-wing, Tel Aviv, Israel

Rove to Leave White House
Asharq Al-Awsat, Pan-Arab daily, London, England

Bush aide Karl Rove to quit
Gulf News, Independent daily, Dubai, United Arab Emirates

300 Hamas opponents rally in Gaza, chant 'we want freedom'
Haaretz, Liberal daily, Tel Aviv, Israel

LEBANON:  'Army Torturing Palestinian Refugees'
IPS Middle East, International cooperative of journalists, Rome, Italy

KM Properties takes the lead
Middle East North African Network, Online financial portal, Amman, Jordan

Profile: Rove, Power Broker in White House
Nahamet, Online news portal, Beirut, Lebanon

Israel mulls removal of roadblocks in West Bank
The Daily Star, Independent daily, Beirut, Lebanon

Black list released of press freedom suppressors in Yemen 
Yemen Times, Independent weekly, Sana'a, Yemen

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Copyright 2007 - Migalhas International

The messages that appear in this newsletter are for informational purposes only. They are not intended to be and should not be considered legal advice nor substitute for obtaining legal advice from competent, independent, legal counsel in the relevant jurisdiction.

Transmission of this information is not intended to create, and receipt does not constitute, an attorney-client relationship. The information contained on this list may or may not reflect the most current legal development.