July 14, 2010 Nº 931 - Vol. 8
"The best government is a benevolent tyranny tempered by an occasional assassination."
Voltaire
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In BP's record, a history of boldness and costly blunders
The problems at Thunder Horse were not an anomaly, but a warning that BP was taking too many risks and cutting corners in pursuit of growth and profits, according to analysts, competitors and former employees. The rig became a symbol of BP's hubris. Despite a catalog of crises and near misses in recent years, BP has been chronically unable or unwilling to learn from its mistakes, an examination of its record shows. "They were very arrogant and proud and in denial," said Steve Arendt, a safety specialist who assisted the panel appointed by BP to investigate the company's refineries after a deadly 2005 explosion at its Texas City, Tex., facility. "It is possible they were fooled by their success." Indeed, there was a great deal of success to admire. In little more than a decade, BP grew from a middleweight into the industry's second-largest company, behind only Exxon Mobil, with soaring profits, fat dividends and a share price to match. From its base in London, the company struck bold deals in politically volatile areas like Angola and Azerbaijan and pushed technology to the limit in the remotest reaches of Alaska and the deepest waters of the Gulf of Mexico — "the tough stuff that others cannot or choose not to do," as its chief executive, Tony Hayward, once put it. The company also led an industry wave of cost-cutting and consolidation. It took over American competitors like Amoco and Atlantic Richfield and eliminated tens of thousands of jobs in several rounds, streamlining management but forcing the company to rely more heavily on outside contractors. For a long time, BP's strategy seemed to pay off. But on April 20, the nightmare situation occurred: the Deepwater Horizon drilling rig exploded, killing 11 workers and sending millions of gallons of oil gushing from BP's Macondo well like so much black poison. Although the accident is still under investigation, preliminary findings by Congressional investigators indicate that BP made a series of decisions that compounded the chances of disaster.
EU to let states rule on GM crops
EU officials plan to give the 27 member states the freedom to grow, restrict or ban genetically modified (GM) crops. The European Commission says different local conditions mean EU countries need more flexibility to decide where, if at all, GM crops are grown. But the EU will continue to study the health impact of GM crops under its current authorization system. Currently a type of maize called MON 810 is the only GM food cultivated commercially in the EU. A GM type of potato, called Amflora, has also been authorised, but it is harvested for industrial starch. Applications to cultivate new GM crops have stalled in the EU because member states take different positions on their safety. Supporters of GMOs argue that they deliver higher yields and resistance to pests, requiring less fertiliser and pesticides. Opponents say more scientific data is needed, arguing that their long-term genetic impact on humans and wildlife could be harmful.
Interest turns to corporate checking
A little-noticed piece of the financial-services overhaul bill could fatten checking-account balances for millions of U.S. businesses by allowing banks to pay interest on corporate checking accounts for the first time since the 1930s. The ban was part of Depression-era legislation, known as Glass-Steagall, designed to prevent banks from taking on too much risk by luring new customers with high interest rates. The measure to eliminate the ban on interest is tucked into the broad financial-services bill that Congress is expected to vote on Thursday. Although consumer checking accounts also are technically subject to the ban on interest, banks for years have skirted the Federal Reserve provision, known as Regulation Q, by developing new kinds of interest-bearing accounts that also allow customers to write checks. Such accounts, however, aren't available to businesses. Businesses have long sought an end to the ban, but the banking industry is divided. Opponents fear that it will intensify competition for valuable deposits and raise costs at a time when institutions are still recovering from the financial crisis. Supporters say that the ability to pay interest will move more deposits into traditional banks and away from interest-bearing accounts that are offered by nonbank financial institutions such as brokerage firms. U.S. checking accounts held $920 billion of consumer and business deposits in the first three months of the year, according to Market Rates Insight, a San Rafael, Calif., firm that tracks banking-industry data.
Le jour de gloire est arrivé (air connu)
Bastille Day is the French national holiday which is celebrated on 14 July each year. In France, it is formally called La Fête Nationale (National Celebration) and commonly le quatorze juillet (the fourteenth of July). It commemorates the 1790 Fête de la Fédération, held on the first anniversary of the storming of the Bastille on 14 July 1789; the anniversary of the storming of the Bastille fortress-prison was seen as a symbol of the uprising of the modern nation, and of the reconciliation of all the French inside the constitutional monarchy which preceded the First Republic, during the French Revolution. This event came to represent the end of the king's power and the transfer of power to the people.
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1 - The age of prosperity. (Click here)
2 - Brazil World Cup in disarray as construction falls way behind. (Click here)
3 - L'Oréal row minister to resign as Sarkozy party treasurer. (Click here)
4 - Worst oil stock after BP as politics hurt share. (Click here)
5 - Pro se representation is up -- and that's bad, say judges in ABA survey. (Click here)
6 - Judge rules bondholders can pursue Citigroup suit. (Click here)
7 - Sudan president faces genocide charge. (Click here)
8 - India to overtake China as world's biggest country by 2026, says report. (Click here)
9 - Glaxo said to pay $460 Million to settle Avandia lawsuits. (Click here)
10 - Academic study: eBay sellers shirk sales tax law. (Click here)
11 - Airline challenge to congestion pricing is rejected. (Click here)
12 - Bank of America admits to 'dollar rolling' $10 billion in debt. (Click here)
13 - China to tighten rules on food safety. (Click here)
14 - Automated debt-collection lawsuits engulf courts. (Click here)
15 - Alleged 'mafia boss' among suspects arrested in Italy. (Click here)
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China web filter hit by problems
The controversial government-backed Green Dam software project to filter internet content could be on the brink of collapse, reports say.
China's frothy property market falters in June
Scavengers at a construction site in Shanghai China's property boom may have peaked in June. China's frothy property market may have peaked after a government clampdown on speculators, new data has shown. Property prices across 70 cities fell 0.1% in June compared with May - the first monthly fall since February 2009. Some economists and investors fear China may suffer a sharp slowdown later in the year.
China expands income-reporting rules to fight corruption
The Chinese government instituted new regulations Sunday requiring a wide variety of government officials to disclose to the state details about their personal finances and the legal status of their family members. The new regulations, which apply to county-level and higher-ranking political officials, party officers and employees of public institutions and state-held business entities, require individuals to disclose their family's investment holdings, property and income, as well as the marital status, employment status and whereabouts of all family members. The inclusion of detailed information about family members in the new disclosure requirements is intended to deter officials from hiding ill-gotten assets and bribes under family members' names, a practice the government believes to be widespread. While the regulations do not go so far as to require public disclosure of the financial information in question, feedback from Chinese citizens posted to state-run portals has shown the move to be well received. The regulations also institute stiffer penalties for failure to comply, with offenders now facing a range of disciplines from public sanction to removal from office.
China looks to increase Internet regulation, decrease anonymity
Chinese Internet regulators have plans to drastically reduce internet anonymity by requiring users to use their real names when posting on certain Chinese websites. Chinese government's past efforts and future plans aim at constricting the flow of dissenting and overseas information and restricting the use the Internet to spread pro-state propaganda. (Click here)
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EE.UU. - México
Estados Unidos dio a México un total de US$ 100 mil de ayuda de emergencia en apoyo a las comunidades afectadas por las inundaciones en varias zonas del país, a causa de las lluvias recientes.
Petrobras
La Petrobras comunicó de un gran descubrimiento de crudo en el bloque 15/06, localizado en la costa de Angola.
Tabacos
La empresa venezolana Cigarrera Bigott Sucs reabrió el litigio que tiene contra la Compañía Colombiana de Tabaco S.A. (Coltabaco S.A.) por el registro de la marca "Green Mint Sensations", el proceso que se encuentra en el Consejo de Estado.
China - Argentina
China y Argentina han acordado invertir unos US$ 10.000 mlls., a lo largo de varios años para renovar el ruinoso sistema ferroviario del país sudamericano y construir un tren subterráneo en su segunda ciudad más grande.
Law firms' compensation systems are driving women out the door
An extensive study released this week surveyed more than 700 women partners about their views of the compensation gap and analyzed the factors that lead to disparity in pay. We spoke with the director of the Project for Attorney Retention, the group which co-published the report, about possible solutions to the law firm gender pay gap.
In UK, legal training system failing law students
The most recent Law Society statistics show there were an ever-growing 14,482 full and part-time places on the legal practice course (LPC), the postgraduate course that all would-be solicitors are required to pass. Not all the places were filled, however, and in total 9,337 students were enrolled on the LPC, of whom around 80% either pass or are referred, meaning they failed part of the course but can resit. While the number of places on the LPC has exploded over the last decade, increasing by nearly 70%, there has been only a 20% rise (to 5,809) in the number of training contracts for them to go on, a figure that is falling in the recession. The legal training system is clearly getting badly out of kilter. In a capitalist market one would expect to see an excess of supply over demand, but we are getting to the stage where the law schools are simply pumping out too many students - and it is a feature of recessions that law becomes popular because it is (wrongly) seen as a safe career option in a difficult jobs market. At a cost of around £12,000 for the year-long LPC in London, before living costs, it can be a very expensive mistake. Last year the Law Society launched an information campaign to warn people considering a career in law as to the risks. There are some frightening statistics about law students' debt and the fear of some is that the law will revert to being the preserve of those who can afford to qualify. (Click here)
French MPs vote to ban Islamic full veil in public
France's lower house of parliament has overwhelmingly approved a bill that would ban wearing the Islamic full veil in public. There were 335 votes for the bill and only one against in the 557-seat National Assembly. It must now be ratified by the Senate in September to become law. The ban has strong public support but critics point out that only a tiny minority of French Muslims wear the full veil. (Click here)
US appeals court strikes down media swearing ban
A US appeals court has struck down a government policy that banned the broadcasting of profanity, ruling that the rule is unconstitutional. The policy was drawn up in 2004 and meant that broadcasters could be fined if indecent words went on air. The court said the FCC's (Federal Communications Commission) policy had a "chilling effect" on broadcasters. The many media outlets that challenged the rule said that they were satisfied with the ruling. The court said banning all "patently offensive" references to sex, sexual organs and excretion without a clear definition of what is considered offensive, effectively chills speech and creates an atmosphere of fear among America's broadcasters. FCC commissioner Michael Copps called the court's decision "anti-family" and said the commission would "clarify and strengthen its indecency framework".
Nigeria state oil firm insolvent
Nigeria's state oil firm is insolvent, unable to pay debts of $5bn, a government minister has said. Junior Finance Minister Remi Babalola said the Nigerian National Petroleum Corporation had asked for help to cover its debts and fund its operations. But the NNPC denied the claim and said the government was not paying its own debts to the firm. Nigeria is a major crude oil producer and exporter but must import refined oil to meet its domestic needs. NNPC owes about $3bn to Nigeria's Federation Account, which distributes oil money to varying levels of the country's government.
Philip Morris said to benefit from Kazakh child labor
Philip Morris International, faced with a Human Rights Watch report that found child labor on farms that supply its cigarette factory in Kazakhstan, vowed changes.
Lawyers file complaint in Morocco seeking arrest of Israel officials
A group of lawyers on Monday filed a complaint with a Morocco prosecutor seeking the arrest of several high ranking Israeli officials over their involvement in Operation Cast Lead. The complaint names former Israeli prime minister Ehud Olmert, former foreign minister Tzipi Livni, and Defense Minister Ehud Barak for violating anti-terror laws and laws requiring the protection of civilians during the 22-day conflict in the Gaza Strip. If the complaint is accepted by the Rabat chief prosecutor, the Israeli officials would face arrest upon entering Moroccan jurisdiction. Israeli officials have faced several arrest threats following the operation in which an estimated 1,400 Palestinians and 13 Israelis were killed. In January, a military delegation canceled a trip to the UK over fears that they would be arrested on war crimes charges for their involvement in the conflict under several British warrants. The arrest warrants were the result of Palestinian plaintiffs working with British lawyers to file charges against Israeli officials under universal jurisdiction, which allows a country to prosecute serious crimes against humanity no matter where the activity takes place. In December, Livni canceled a UK trip after a British magistrate court issued, and later revoked, an arrest warrant for her on war crimes charges relating to the Gaza offensive.
Senate to vote on Wall St reform later this week
Comprehensive legislation to regulate the US financial sector is one step closer to becoming law. Senate Majority Leader Harry Reid is planning a vote later this week, after four undecided senators said in recent days that they would vote for the bill. The bill languished in Congress for several weeks while Democratic senators scrambled to find the 60 votes necessary to overcome a procedural delay tactic.
Man claims Facebook ownership
A New York judge issued a temporary restraining order restricting the transfer of Facebook assets, amid a man's claim that he owns 84% of the social-networking company. Facebook calls the suit frivolous.
ICC allows trial of accused Congo militia leader to continue
The Appeals Chamber of the International Criminal Court (ICC) on Monday denied the stay of proceedings request of accused Congolese militia leader Germain Katanga. Katanga filed the appeal in June seeking a stay of proceedings and a declaration of unlawful detention by the Democratic Republic of the Congo (DRC) before his transfer to the ICC. In upholding the November decision of Trial Chamber II, the Appeals Chamber held that the motion had been filed too late. Two dissenting appellate judges described the standard applied by the trial chamber as a retroactive one and a violation of the chamber's discretion. According to the dissent, the trial chamber had not properly weighed the procedural interests of the court against the Katanga's rights. Katanga and his co-defendant Mathieu Ngudjolo Chui pleaded not guilty at the start of their trial in November to charges of three crimes against humanity and seven war crimes, including murder, sexual slavery, pillage, and the use of child soldiers. Katanga, a former commander in the Front for Patriotic Resistance of Ituri, and Ngudjolo Chui, a former commander in the Nationalist and Integrationist Front, allegedly led two groups of child soldiers and militia in the attack against the village of Bogoro. Bogoro is located in the DRC's mineral-rich Ituri province, which has caused the territory to be an ongoing point of contention between Congolese militias. The trial is only the ICC's second case since its formation since 2002.
US 'disappointed' by Swiss Polanski extradition ruling
The US has said it is "disappointed" by Switzerland's decision not to extradite the film director, Roman Polanski. A state department spokesman said it would continue to seek Polanski's arrest and extradition on charges he had sex with an underage girl in 1977. "We have not forgotten about this case." The Swiss justice ministry said the US had not made a convincing argument for Polanski's extradition since he was arrested last year and he was now free. After the ruling, Polanski paid "massive thanks" to his supporters.
Vote on Supreme Court nominee Elena Kagan delayed one week
The decision to delay the Senate Judiciary Committee vote on Supreme Court nominee Elena Kagan is routine. It points to Republican concerns about Ms. Kagan. The committee has delayed its vote on whether to send Kagan to the full Senate for a week. (Click here)
Appeals Court strikes down FCC indecency policy
A federal appeals court tossed out a government policy that can lead to broadcasters being fined for allowing even a single curse word on live television, concluding that the rule was unconstitutionally vague and had a chilling effect on broadcasters. The 2nd U.S. Circuit Court of Appeals in Manhattan struck down the 2004 Federal Communications Commission policy, under which profanity referring to sex or excrement was always considered indecent. "By prohibiting all `patently offensive' references to sex, sexual organs and excretion without giving adequate guidance as to what 'patently offensive' means, the FCC effectively chills speech, because broadcasters have no way of knowing what the FCC will find offensive," the appeals court wrote. "To place any discussion of these vast topics at the broadcaster's peril has the effect of promoting wide self-censorship of valuable material which should be completely protected under the First Amendment," it added.
Rant: And because a TV show displays paintings and sculptures of naked bodies, programs are flagged by the network and, in some regions, aired only after 10 p.m., when things are less restrictive.
In recent years, programmers actually got a list of how many seconds that marble and canvas body parts appeared in each episode. They couldn't inflict a Titian painting or a Bernini statue on a conservative viewership without taking heat and risking having to pay enormous fines of $275,000.
Afghanistan cabinet approves a bill targeting government corruption
The Afghan cabinet on Monday approved a bill that would allow high-ranking government officials to stand trial on charges of corruption. Under the bill the Afghan judiciary would be empowered to establish special tribunals which would hear the cases of high-ranking government officials accused of corruption. Under current Afghan law, government ministers are immune from prosecution in the traditional court system. The cabinet's approval comes one week before the Afghan government is expected to ask for additional funds from the international community in order to help in the country's rebuilding efforts. The approval of the funds may be contingent on the government's ability to reduce corruption, which is reportedly extensive. Integrity Watch Afghanistan (IWA) reports that Afghans paid USD $1 billion in bribes in 2009, and that corruption threatens the country's legitimacy. Transparency International (TI), in its 2009 Corruptions Perceptions Index (CPI), ranked Afghanistan one of the world's most corrupt countries. The bill must now be approved by the Afghan Parliament or passed by presidential decree.
UN begins arms treaty negotiations
The UN Office for Disarmament Affairs on Monday began negotiating a treaty to regulate the arms trade and prevent guns from entering conflict zones. The Arms Trade Treaty Preparatory Committee (PrepCom), established following a 2008 report by the Group of Governmental Experts, has been examining the scope and draft parameters of a 2006 resolution in order to make recommendations on an international, legally binding arms treaty. After fully considering the findings and recommendations of the PrepCom, the UN General Assembly plans to finalize the treaty in 2012. The Control Arms Campaign, a network including Amnesty International (AI), Oxfam and Instituto Sou da Paz, has called on the UN to draft an effective treaty regulating all weapons, ammunition and related equipment.
He's out! Judge off the bench for meddling with prosecution of daughter's softball coach
A Nebraska judge who was an assistant coach for his daughter's softball team has been ejected from the bench for meddling in a prosecution against the team's head coach.
US denies abducting Iran scientist
Al Jazeera, Doha, Qatar
Iraq: Al-Iraqiya Members Oppose Nomination of Al-Maliki for Second Term
Asharq Al-Awsat, Pan-Arab daily, London, England
Old taxi owners receive yearly compensation
Gulf News, Independent daily, Dubai, United Arab Emirates
IDF watchful as Libya-sponsored Gaza aid ship stalls in int'l waters
Haaretz, Liberal daily, Tel Aviv, Israel
Turks Let Kurdish Forests Burn
IPS Middle East, International cooperative of journalists, Rome, Italy
7 flotilla victims wanted to be martyrs, report says
JPost, Conservative, Jerusalem, Israel
Dubai to stay
on top with new urban plan
Khaleej Times, English-language daily, Dubai, United Arab Emirates
France stands by Jordan's nuclear programme
Middle East North African Network, Online financial portal, Amman, Jordan
Deadly Typhoon Lashes Philippines
Nahamet, Online news portal, Beirut, Lebanon
Panel formed on Lebanon poll law
Saudi Gazette, English-language daily, Riyadh, Saudi Arabia
Israelis sue Al-Jazeera over reports during 2006 war
The Daily Star, Independent daily, Beirut, Lebanon
Netanyahu says will meet Egypt s Mubarak on Tuesday
Times of Oman, English-language daily, Muscat, Oman
Yemen's Untouchable Class: The Akhdam
Yemen Observer, Sana'a, Republic of Yemen
The OPEC Fund for International Development Scholarship
Yemen Times, (Independent weekly), Sana'a, Republic of Yemen
Shots fired at police in Belfast
BBC News, Centrist newscaster, London, England
Troops killed in attack on Afghan police HQ
BreakingNews.ie, Online news portal, Cork, Ireland
Mugabe: Diamonds key to recovery
Daily Express, Conservative tabloid, London, England
GBP 65,000: What the UK's real debt costs every one of us
Daily Mail, Conservative daily, London, England
Nokia Siemens in talks to buy Motorola network arm - report
DMeurope, Online news portal, Amsterdam, Netherlands
FRANCE: Several African soldiers in July 14 parade 'could be war criminals'
France 24, Issy-les-Moulineaux, France
Iraqi president seeks council on government void
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey
Diana Vickers Models For LOOK!
Look Magazine, London, England
Fed-up Carlisle residents remove fly-tipped rubbish
News & Star, Independent daily, Carlisle, England
Israel Says Gaza Aid Boat Diverted To Egypt
Radio Free Europe, Prague, Czech Republic
Afghan Manhunt: Renegade Kills Three
Sky News, Independent newscaster, Middlesex, England
Obituary of the Architect Günter Behnisch: The Man Who Gave Post-War Germany A New Face
Spiegel International, Liberal newsmagazine, Hamburg, Germany
Belfast burns on third night of sectarian violence
The Guardian, Liberal daily, London, England
Why the tribe who invented lacrosse can't play it here
The Independent, London, England
Glanbia reports strong first half
The Irish Times, Centrist daily, Dublin, Ireland
Art Curators Fined for 'Blasphemous' Exhibit
The Moscow Times, Independent daily, Moscow, Russia
The night I was shot by Raoul Moat
The Sun, London, England
Denise Van Outen: breastfeeding is 'too public'
The Telegraph, London, England
Northern Ireland: shots fired at police in third night of rioting in Belfast
The Telegraph, Conservative daily, London, England
Bull 1, Mexican matador: never again
Times Online, Conservative daily, London, England
Magnitude 5.7 earthquake hits Jayapura
Antara News, News agency, Jakarta, Indonesia
Freer budgets help Intel's best-in-a-decade profit
China Post, English-language daily, Taipei, Taiwan
10th Seoul International Financial Forum Kicks Off
Chosun Ilbo, Conservative daily, Seoul, South Korea
Karachi target killings - contradictions and denials
Dawn, English-language daily, Karachi, Pakistan
Moldova welcomes concerted efforts to solve problems triggered by Transnistrian conflict
Gazeta.kz, Official online newspaper, Kazakhstan
Senior Baloch leader Habib Jalib shot dead in Pak
Hindustan Times, New Delhi, India
Govt asks Naxal-hit states to set up unified command
India Express, News portal, Mumbai, India
Building collapse kills 6 in Delhi
India Times, Conservative daily, New Delhi, India
English courses fuel company drive
Japan Times, Independent centrist, Tokyo, Japan
Selangor mulls elections for village headmen
Malaysian Star, Online news portal, Selangor Darul Ehsan, Malaysia
Hot dog honks to alert owner
New Zealand Herald, Conservative daily, Auckland, New Zealand
Commander surrenders
Pajhwok Afghan News, (Independent news agency), Kabul, Afghanistan
Australian to release revised economic forecasts (2)
People's Daily Online, English-language, Beijing, China
Neb. council OKs ban on hiring illegal immigrants
Sify News, Chennai, India
Moguls, morals and Mel
Sydney Morning Herald, Centrist daily, Sydney, Australia
China, Argentina agree US$10b in rail deals
Taiwan News, English-language daily, Taipei, Taiwan
President expresses confidence in ECFA
Taiwan Today, Government Information Office, Taipei, Taiwan
Integrated approach needed to fight Maoists: Raman Singh
Thaindian News, Bangkok, Thailand
Bhardwaj wants action against two Ministers
The Hindu, Left-leaning daily, Chennai, India
BP delays tests on new oil spill cap
Canadian Broadcasting Centre, Toronto, Ontario
LIAT fights another battle with employees
Caribbean360, Online news portal, St. Michael, Barbados
dms continues to sponsor Seafarers
Cayman Net News, Online news portal, George Town, Cayman Islands
Dominican leader reveals the world's empty promises for Haiti
Dominican Today, Independent daily, Santo Domingo, Dominican Republic
COLOMBIA: Midwives Seek Legal Recognition, Respect
IPS Latin America, International cooperative of journalists, Rome, Italy
Bolt outruns taxman
Jamaica Gleaner, Independent daily, Kingston, Jamaica
Peru's Sol Rises to a 23-Month High as Economic Growth Draws Investors
Living in Peru, News portal, Lima, Peru
Police search for suspect in cemetery sex assault
The Globe and Mail, Centrist daily, Toronto, Canada
Spain beats Netherlands 1-0 in World Cup final
Toronto Star, Toronto, Ontario
The law is watching you
Trinidad Guardian, Independent daily, Port-of-Spain, Trinidad
Nigeria state oil firm 'insolvent'
BBC News, Centrist newscaster, London, England
Sekou Nkrumah: JJ Is Ghana's Best Leader
GhanaWeb, Online news portal, Amsterdam, Netherlands
Israel 'must take action'
iafrica, Online news portal, Cape Town, South Africa
A boon for ATM robbers
Independent Online, News portal, Cape Town, South Africa
13 people from Ethiopia and Eritrea killed in Uganda bomb attack - Video
Jimma Times, Online news portal, Jimma, Ethiopia
Intel sets bright tone for earnings, tech rises
Mail & Guardian Online, Liberal, Johannesburg, South Africa
Eskom, unions finalise wage deal
News24.com, Online news portal, Cape Town, South Africa
Pensioners cripple activities in Bauchi over arrears
Vanguard, Independent daily, Lagos, Nigeria
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