August 6, 2014 nº 1,527 - Vol. 12

"Je pense qu'une grande partie du prestige de Marx vient de ceci qu'il est difficilement abordable, de sorte que le marxisme n'est d'ordinaire connu qu'à travers des intercesseurs. C'est la messe en latin. Où l'on ne comprend pas, on s'incline."
"I think that much of the prestige of Marx comes from being inaccessible, so that Marxism is usually known only through intercessors. This is the Mass in Latin. When we do not understand, we bow."

Andre Gide (*)

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

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  • Top News

NEW 

'A Bela Viagem' by Synésio Sampio Goes Filho, published by Editora Migalhas, invites us to wonder about love, work, friendship, beliefs and disbeliefs man ever; and many other topics that get forgotten in the whirlwind of life. Drawing on his tremendous cultural baggage, packed around the world, Goes Filho presents a collection of indispensable quotes by Shakespeare, Millôr Fernandes, Drummond, Montaigne, Pascal, Nietzsche, Fernando Pessoa ... , and also de Gaulle, Churchill and Pope Benedict XVI, along with his unique insight, humor and gentleness of spirit. This diary of sentences, phrases and aphorisms is surely to make you think and feel, maybe even cry and laugh! Migalhas, the editor, is launching the book on August 11 at 11AM at the Circolo Italiano, Sao Paolo in Brazil. (Click here)

* quoted in 'A Bela Viagem' by Synésio Sampio Goes Filho, Editora Migalhas, 2014

Securities class-action suits seem to be waning

Shareholders may be feeling a little less litigious lately. Plaintiffs filed 78 new federal class-action securities cases in the first half of 2014. That is about on par with the 75 cases filed in the same period a year earlier, but 18 percent lower than the semiannual average of 95 cases, based on the time frame of 1997 to 2013. In the first half of the year, about one in 60 companies listed on the New York Stock Exchange and the Nasdaq was sued in shareholder class-action litigation. Twenty-one percent of the filings in the first half of the year were against health care, biotechnology and pharmaceutical companies. Why the slump? One reason could be that the markets were, for the most part, climbing for much of this year (though they have wiped out those gains in recent weeks). "When the market starts getting more volatile, we start seeing more cases filed," said John Gould, a senior vice president at Cornerstone and one of the authors of the report. Another possible explanation is that the number of companies listed on the New York Stock Exchange and the Nasdaq has decreased, meaning there are fewer targets for class-action lawsuits, according to the report. From 1998 to 2013, the number of companies on both exchanges decreased by 46 percent.

Offshore accounts: current state of law and compliance

Legal advice concerning current or former offshore accounts is oftentimes rigged with incompetent, outdated, and yet expensive. National publications regularly publish articles on the subject offshore accounts, but these articles tend to be a day late and a dollar short. The articles also tend to quote lawyers–generally the same group of lawyers. A recent article purporting to advise account holders included a quote from a lawyer representing the other side the Swiss bank. One of the most fundamental ethical precepts of the legal profession is that a lawyer shall not have a conflict of interest. It was common for US persons to have foreign bank and brokerage accounts, especially in Switzerland. Some of the accounts were modest in amount, $100,000-$200,000, established to support travel for business or pleasure. Other accounts were in the millions of dollars, established to evade US income tax. Swiss banks availed of strict Swiss bank secrecy laws to sell such account relationships. Swiss banks commonly issued no account statements for the accounts. Some Swiss banks sent representatives into the United States to solicit deposit/brokerage relationships. Some Swiss banks serviced such accounts through branch offices in the US under common ownership. And the Swiss banks never issued Forms 1099 to the Internal Revenue Service or to the depositors, facilitating the evasion of US income tax. Under the Agreement between the United States of America and Switzerland for Cooperation to Facilitate the Implementation of FATCA, dated February 14, 2013 (the "Agreement"), Swiss banks must make aggregate disclosures concerning accounts which were in existence on December 31, 2013, and are owned by which a US person who refuses to consent to disclose the account to the US government. An aggregate disclosure is limited to the total number on recalcitrant US account owners, and total balance of their accounts. There is a mechanism under the Agreement for the US government to procure the identity and account balance of recalcitrant US account holders included in aggregate disclosures. The United States Department of Justice has prosecuted Swiss banks for conspiracy to defraud the US government out of tax revenues, resulting in guilty pleas. Other Swiss banks are under investigation by the DOJ for complicity in tax evasion. To avoid prosecution, or imposition of a penalty of from 20% to 30% of the balance of US persons' account balances, Swiss banks have been urging US who closed accounts at their bank since August, 2008 to consent to disclosure of their closed Swiss accounts to the US government, and to indemnify the banks for making such disclosure. These banks have been threatening unilaterally disclose to the US government account information, including depositor's identity, of former account holders who decline to consent. Such unilateral disclosure would amount to an outrageous breach of trust by the Swiss banks. It would violate the Swiss banks' fiduciary and implied contractual duties of confidentiality to the former depositors, as well as Swiss banking secrecy laws.

The Internal Revenue Code requires US persons to report their worldwide income. A foreign tax credit is available to US taxpayers for foreign tax paid on their income. The statute of limitations on assessment of income tax is three years, and it begins to run when the tax return is filed. There is no statute of limitations on assessment of income tax underreported by reason of fraud. Fraud requires the taxpayer to have knowledge of the law, or to recklessly disregard it. The government has the burden of proving fraud, by clear and convincing evidence. The statute of limitations on a criminal prosecution for filing a fraudulent income tax return is six years, and it begins to run upon filing of the fraudulent income tax return. The Bank Secrecy Act requires US persons with financial interest in, or signature authority over, foreign bank accounts with an aggregate balance over $10,000 at any time during a calendar year to report the foreign accounts on a Form FinCEN 114 ("FBAR") filed for that calendar year. An FBAR for a given calendar year is due to be filed by the succeeding June 30.

In 2009, the IRS introduced its Offshore Voluntary Disclosure Initiative, offering holders of foreign accounts an opportunity to avoid the Bank Secrecy Act's draconian penalty for failure to report foreign accounts on an FBAR, and prosecution for failure to report income from foreign accounts on an income tax return. In return, the account holder had to

• Waive statute of limitations on assessment of income tax.
• File amended income tax returns as required for the last eight years.
• Waive statute of limitations on assessment of FBAR penalty.
• File FBARs for the last eight years.
• Pay income tax reported as owing on income tax returns, 20% accuracy penalty, and interest.
• Pay FBAR penalty equal to 25% of the highest aggregate balance of the foreign accounts over the last eight years (5% if the noncompliance was not willful, 12.5 % if the aggregate balance of the foreign accounts did not exceed $75,000).

The OVDI still exists as the Offshore Voluntary Disclosure Program. Under it the penalty for failure to timely file FBARs is 27.5% of the highest aggregate balance in the foreign accounts over the preceding eight years. A taxpayer will be subject to a civil penalty not of 27.5%, but of 50% the balance of his undisclosed foreign financial account if, at the time he submits his pre-clearance letter to IRS Criminal Investigation, an event has occurred constituting a public disclosure that the foreign financial institution, or another person who facilitated the taxpayer's account at the foreign financial institution, is under investigation, or is cooperating in an investigation, by the IRS or the US Department of Justice concerning accounts beneficially owned by US persons, of has been identified in a John Doe summons concerning such accounts. The US Department of Justice publishes a list of such foreign financial institutions. To reap the benefit of the OVDP, a disclosure must be truly voluntary.

Big banks' 'living wills' get failing grade

Wall Street banks spent two years asking US regulators what they should put in hypothetical bankruptcy plans to prove they aren't "too big to fail." The agencies broke their silence yesterday with a grade: Fail. The Federal Reserve and Federal Deposit Insurance Corp. told 11 of the largest US and foreign banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., that they botched their so-called living wills. The agencies ordered the banks to simplify their legal structures and revise some practices to make sure they can collapse without damaging the wider financial system. The living-wills exercise was a key check on large banks written into the Dodd-Frank Act, a regulatory overhaul prompted by the 2008 financial crisis. Lehman Brothers Holdings Inc. provided the horror story for what happens when big, complex financial firms land in bankruptcy court. So the regulators yesterday directed the banks to take immediate action to make their holding companies easier to dismantle before their next round of annual filings in 2015.

The Ebola outbreak: 'a dress rehearsal for the next big one'

Until this year, the world had recorded 1,640 deaths from Ebola since the virus was discovered in 1976. So far this year, 887 people have died of Ebola in West Africa, the World Health Organization. To put that into perspective, more than a third of all people known to have died from the Ebola virus have died in the current outbreak. And the outbreak is still spreading at a frightening rate. Last week, there were more than 200 new cases reported across four countries. Spillover is the event when a disease, or the agent that causes it, moves from one species to another. In particular, there's a group of diseases, called zoonotic diseases, which pass from nonhuman animals into humans. And spillover is the moment when a new virus has the opportunity to leap from a bat, monkey or rodent into its first human victim. We're pretty sure that's what happened with the Ebola outbreak in West Africa. How did we go from a virus that's found largely in animals to a virus that can be deadly for humans — and spread across four countries? Human behavior is causing this problem. More and more, we're going into wild, diverse ecosystems around the world, especially tropical forests. Some scientists believe that each individual species of animal, plant, bacterium and fungus in these places carries at least one unique virus, maybe even 10 of them. We, humans, go into those wild ecosystems. We cut down trees. We build mines, roads and villages. We kill the animals and eat them. Or we capture them and transport them around the world. In doing that, we expose ourselves to all these viruses living around the world. That gives the viruses the opportunity to spill over into humans. Then in some cases, once the virus makes that first spillover, it discovers that it might be highly transmissible in humans. Then you might have an epidemic or a pandemic. The Ebola virus in West Africa is changing over time and becoming more contagious in people; and that's a real concern.

China's environment

"China and the environment: what steps is the government taking to improve the situation?” Criticized by the global media as one of the most polluted countries in the world, Jayme Vita Roso, lawyer's Auditoria Jurídica, explain about how the china’s legislators plans on creating an "Ecological Civilization" for its citizens. (Click here)

Business

The Lisbon office of Uría Menéndez and Brazil's Dias Carneiro, Arystóbulo, Flores, Sanches and Thomaz Bastos Advogados have helped Japan's Marubeni and the Innovation Network Corporation of Japan (INCJ) buy a Portuguese water concessionaire with stakes in three Brazilian water companies, marking the first time Japanese companies have bought into Brazil’s water industry. Administração e Gestão de Sistemas de Salubridade (AGS) was advised by Portugal's Morais Leitão, Galvão Teles, Soares da Silva and Brazil’s Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados. The pair bought the concessionaire from utilities company Somague Ambiente, a subsidiary of Spanish construction company Sacyr Valleheremoso, which was advised by Cuatrecasas, Gonçalves Pereira in Lisbon. Marubeni and INCJ, which is a public-private partnership between the Japanese government the some of the country's largest corporations, will each own 50 per cent of AGS. The value of the investment has been kept under wraps; however, sources have estimated it could be up to US$90 million.

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  • Crumbs

1 - Credit Agricole hit by Banco Espirito Santo troubles - click here.

2 - Woman files $123M suit against Facebook over photoshopped nude photos - click here.

3 - Obama Signs Law Providing $225 Million for Israel's Iron Dome - click here.

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  • MiMIC Journal

China said to exclude Apple from procurement list

China's government excluded Apple iPads and MacBook laptops from the list of products that can be bought with public money because of security concerns, according to government officials. Apple is the latest US technology company to be excluded from Chinese government purchases amid escalating tensions between the countries over claims of hacking and cyberspying. China's procurement agency told departments to stop buying antivirus software from Symantec Corp. and Kaspersky Lab, while Microsoft Corp. was shut out of a government purchase of energy-efficient computers. The heightened scrutiny of foreign companies follows Edward Snowden's revelations last year of a National Security Agency spying program and the May announcement of indictments by US prosecutors of five Chinese military officers for allegedly stealing corporate secrets.

McDonalds says China food scandal is hurting sales

The fast-food chain McDonalds has said a food scare in China and Japan is having a "significant negative impact" on sales in the region. The company said it might not meet its sales forecast for this year as a result of the China supplier issue. Last month, McDonalds suspended sales of its nuggets in Hong Kong amid concerns about a Chinese meat supplier. McDonalds said it could not currently estimate the impact on earnings for the full year, but added that it was "undertaking recovery strategies to restore the trust and confidence of our customers". The affected markets account for 10% of revenues.

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  • Historia Verdadera

Negocios

El grupo mexicano Mexichem compróe la firma alemana Vestolit, el sexto mayor productor de resina de PVC de Europa, por US$292 mlls. (Presione aqui)

Contrato

El Gobierno de Panamá suspendió un proyecto de radares contratado con una unidad del conglomerado italiano de tecnología y defensa Finmeccanica debido a deficiencias en el desempeño de los equipos. El contrato fue suscrito por US$ 120 mlls. (Presione aqui)

Refinería

La estatal petrolera de Venezuela venderá su filial de refinación Citgo de Estados Unidos cuando tenga una propuesta. El ministro de Petróleo y Minería, Rafael Ramírez, no confirmó los rumores sobre ofertas de inversionistas interesados en comprar la mayor filial en el extranjero de PDVSA, como divulgo la  semana pasada el grupo de investigación Argus Media. Citgo opera tres refinerías de crudo: Lake Charles en Louisiana, Lemont en Illinois y Corpus Christi en Texas.

  • Brief News
US firms to invest $14bn in Africa

US companies have pledged $14bn of investment in Africa in areas such as energy and infrastructure, Obama has said. The announcement came at the first US-Africa Leaders' Summit, attended by over 40 African heads of state. The summit is an effort to strengthen US ties with Africa as China increases its African investments. The deals announced on Tuesday included a $5bn partnership between private-equity firm Blackstone and Aliko Dangote, Africa's richest businessman, for energy infrastructure projects in sub-Saharan Africa. Power Africa received an additional $12bn in pledges towards its effort to develop energy supplies on Africa through a mix of investment and state involvement. The World Bank announced a $5bn investment in Power Africa and General Electric said it had committed $2bn to help boost infrastructure and access to energy. "We gave it to the Europeans first and to the Chinese later, but today it's wide open for us," said General Electric chief executive Jeff Immelt. "As critical as all these investments are, the key to unlocking the next era of African growth is not going to be here in the US, it is going to be in Africa, " Obama said.

Evaluate and use alternative fee arrangements in your practice

The use of alternative fee arrangements by lawyers and the demand for those arrangements by clients is increasing. How are you and your law firm addressing this threat to the billable hour? Are you prepared to recognize that value is not measured in one-tenth-of-an-hour increments? Large firms, small firms, and solo lawyers can successfully implement and evaluate alternative fee arrangements in transactional matters to deliver value to both the clients and the lawyers. 

Lawyer discipline in New York is 'seriously deficient'

New York's system for disciplining lawyers is shrouded in secrecy and riddled with inconsistency, according to New York University law professor Stephen Gillers.a leading legal ethics expert. "A study of all lawyer discipline cases in New York from mid-2008 through 2013… reveals that the system for lawyer discipline in New York is seriously deficient." The professor — whose article appears in the most recent issue of the "New York University Journal of Legislation and Public Policy" — levels a number of criticisms at the Empire State's sanction system. One glaring weakness, he says, is how difficult it is for a prospective client to look up a lawyer's disciplinary history. "New York cloaks its process in secrecy unless and until a court imposes public discipline," he writes. Most of the time, a sanction takes the form of a private reprimand. And even when a sanction is made public, according to Gillers, it's hard to find. The state's official online attorney database allows a user to find out if an attorney is registered and from which law school he or she graduated. But unlike ones operated by many other states, the database doesn't say if an attorney has been sanctioned. To dig up that information, a client would either have to search the web for news stories about the attorney or find a link to a disciplinary opinion. New York, the professor also notes, is the only state in America without a statewide disciplinary authority. That's led to inconsistent sanctions, he argues.

Drones outpacing rules as popularity soars in New York

Few regulations cover small unmanned remote-controlled aircraft, whose prices are dropping and whose operators may have no experience or training.

Russia gang in 'largest data breach'

A Russian group has hacked 1.2 billion usernames and passwords belonging to more than 500 million email addresses. The hack is labelled as the "largest data breach known to date". The stolen information comes from more than 420,000 websites, including "many leaders in virtually all industries across the world". "They didn't just target large companies; instead, they targeted every site that their victims visited," the report said. The databases were used to attack e-mail providers, social media, and other websites to distribute spam to victims and install malicious redirections on legitimate systems." Experts who had reviewed the data said some big companies were aware that their records were among the stolen information.  

Scottish independence: clash in TV debate

Alex Salmond and Alistair Darling have clashed in a TV debate ahead of the Scottish independence referendum. The issue of which currency an independent Scotland might use was among those on which they went head to head. Salmond, Scotland's first minister, said the nation was being run by Westminster parties it did not vote for. "No one will do a better job of running Scotland than the people who live and work in Scotland." Darling, leader of the pro-Union Better Together campaign, said independence campaigners had failed to answer key questions. ''No thanks to the risk of independence.'' The referendum will be held on September 18.

Apple, Samsung call patent truce outside US

Apple and Samsung have agreed to withdraw all legal cases against each other outside the United States. The two rivals have sued each other over a range of patent disputes in nine countries outside the US, including the UK, South Korea, Japan and Germany. A joint statement said the agreement "does not involve any licensing arrangements", and they would continue to pursue existing cases in US courts. The two firms, the biggest players in the smartphone and tablet PC market, have been involved in a bitter legal battle, spread across various countries, which has escalated in recent years.

No more reservations: exclusive restaurants require tickets instead

In the future, going out to eat could become a lot like going to a sold-out rock concert. In fact, some of the hottest restaurants now sell tickets instead of taking reservations. The number of exclusive eateries that sell tickets for meals is growing. The issue of no-shows plagues many small, chic restaurants. That makes tickets even more appetizing for them. Tickets also require consumers to pay for their set, multicourse meal in advance. And tickets can be resold, which has lured ticket brokers into the market. 

DOJ: New York jail routinely violates rights of adolescent inmates

The US Department of Justice (DOJ) released a report Monday finding that the New York City Department of Correction has routinely violated the constitutional rights of male teenagers at the Rikers Island jail complex. The report was released after a multi-year investigation pursuant to the Civil Rights of Institutionalized Persons Act (CRIPA) was completed, which found that correctional officers relied on physical forms of punishment. No legal action has commenced as a result of the report, however.

Sprint 'drops bid for T-Mobile US'

Sprint is ending its pursuit of T-Mobile US, according to a person familiar with the matter. The company and its parent, SoftBank, decided it would simply be too difficult to win approval from regulators. Officials at both the Department of Justice and the Federal Communications Commission had signaled earlier that they were happy with the number of wireless carriers and feared further consolidation would harm consumers. Shares in US telecoms firm Sprint drop sharply in after-hours trade.

Bitcoin price crashes linked to web search surges

A spike in searches for Bitcoins can be a good predictor of an imminent crash in its value, suggests research. The conclusion emerged from a study of the web activity and social media chatter surrounding the virtual currency by Swiss computer scientists. Their analysis of who was taking part in this activity helped to explain the meteoric rise in the value of bitcoins. It might also offer insights into how online communities adapt and grow. Studying the "digital traces" of this activity could help lay bare the variables that govern the way the virtual currency behaves said the team. The four key variables that emerged from the analysis were:

• the size of the user base
• the number of searches for information
• the amount of information shared
• the price

From this the team at the Federal Institute of Technology in Zurich managed to find two positive feedback loops that steadily influence how much each bitcoin was worth. The first "reinforcement cycle" involves an increase in the amount of searching for information about bitcoins, which leads to more chatter about the currency and prompts a rise in its value. "The successive price surges in the Bitcoin economy are largely due to its growing public attention," said the team. The second feedback loop involves a rise in search volume which makes more people download the software and join in the mining pools that generate coins. This too tends to lead to a rise in the nominal value of Bitcoins. "Our analysis suggests that the successive waves of growth of the Bitcoin economy were driven by corresponding waves of new users from public circles gradually opening to the currency" wrote the researchers. In addition, they found found that search spikes were early indicators of an imminent drop in its value but added that this did not act as a good predictor of the biggest falls in the value of bitcoins. Currently one bitcoin can be exchanged for $585.

East Ukraine dangers increasing - UN

The east-west chill over Ukraine deepens as the EU prepares sanctions targeting the Russian economy. Civilians in eastern Ukraine are facing increasing danger as the conflict continues, the UN warns, hours after heavy fighting erupted in Donetsk.

LinkedIn in $6m labour violation settlement

LinkedIn has agreed to pay $6m in wages and damages after regulators found it failed to account for all the hours worked by its employees. This includes $3.3m in unpaid wages and $2.5m in damages to be paid to 359 former and current employees. It also agreed to provide compliance training and distribute its policy on overtime work to all applicable staff. The firm said talent was its "number one priority" and it was eager to "rectify the situation".

F1 boss Ecclestone pays to end trial

A German court agrees to end the bribery trial of Formula 1 boss Bernie Ecclestone in exchange for a $100m payment from him.

Switzerland adopts Russia blacklist over Ukraine crisis

Switzerland is blacklisting dozens of influential Russians and pro-Russian separatists in line with EU sanctions. The idea is to prevent those on the EU and US blacklists from circumventing sanctions by doing business in Switzerland instead. The sanctions target Russians and separatists in eastern Ukraine accused of undermining Ukraine's sovereignty. The Swiss are barring those listed from doing new deals with Swiss partners. But their assets will not be frozen.

New York advocacy groups challenge teacher tenure

An education advocacy group on Monday filed suit in New York to challenge the state's teacher tenure laws, becoming the second group in the state to do so. The challenges, brought by the New York City Parents Union and the Partnership for Educational Justice, claim that existing laws protecting teacher employment violate the civil rights of children to a quality education. The argument echos the ruling of the California Superior Court in June which struck down California's teacher tenure and other related laws. In its suit filed last month, the Partnership for Educational Justice argued that the laws make it difficult to fire ineffective teachers and disproportionately harm low-income and minority students. The teachers union has defended tenure as a means of protecting educators from termination without due process. Unlike California, where tenure is awarded after 18 months, New York has a probationary period of three years.

Three US migrant shelters to close

Three emergency shelters housing an influx of children from Central America who entered the US illegally will be closed because numbers are falling.

Hollywood films 'do not reflect diversity' in US

Hollywood movies are under-representing non-white ethnic groups in the US, a new study says. Hispanic actors played only 4.9% of speaking parts in 2013 blockbusters, despite making up more than 16% of the population. Black actors were cast in 14.1% of roles and 17% of films had no black speaking characters. "Adding diversity to the director's chair may influence what we see on screen," the report said.

  • Daily Press Review

Gaza ceasefire enters second day
Al Jazeera, Doha, Qatar

London Times refuses to run Elie Wiesel ad denouncing Hamas' human shields
Haaretz, Liberal daily, Tel Aviv, Israel

Visiting Jerusalem rabbi attacked at Australian mall
JPost, Conservative, Jerusalem, Israel

Salmond and Darling clash in debate
BBC News, Centrist newscaster, London, England

2 cyclones heading toward Hawaii
CNN International, London, England

Olivia Wilde breastfeeds her son in new fashion shoot for Glamour magazine
Daily Mail, Conservative daily, London, England

Former Bishop of Gloucester questioned over sex offences during the 1980s
Daily Mail, Conservative daily, London, England

Hungarian government criticised for war memorial
EuroNews, International news, Ecully Cedex, France

Kerry calls for two-state solution as fragile Gaza truce holds
France 24, Issy-les-Moulineaux, France

Turkey plans Iraq camp to prevent refugee flow
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

British comedy star James Corden to take over on the Late Late Show
Independent The, London, England

Barbie look-a-like Bunny Hunter is a gun enthusiast
Telegraph The, Conservative daily, London, England

Downton Abbey star Julian Ovenden's father prepares for nudity
Telegraph The, Celebrity news, London, England

Kaohsiung mayor calls for gov't funds
China Post, English-language daily, Taipei, Taiwan

Foreign Carmakers' Parts Price Lists Offer Little Help
Chosun Ilbo, Conservative daily, Seoul, South Korea

Elderly Hong Kong parents salted cooked and packed into lunchboxes by son
Hindustan Times, New Delhi, India

Four of a family charred to death in Trichy
India Times, Conservative daily, New Delhi, India

Rosetta space probe set to catch up with comet
New Zealand Herald, Conservative daily, Auckland, New Zealand

Ukraine President cancels trip over protests in eastern Ukraine
Straits Times, Pro-government, Singapore

Team Australia to the rescue
Sydney Morning Herald, Centrist daily, Sydney, Australia

Gaza border town in ruins after Israeli attack
Taiwan News, English-language daily, Taipei, Taiwan

Gaza truce pushes into second day ahead of Cairo talks
The Economic Times, Business, Mumbai, India

Death toll in south China earthquake rises to 589
Canadian Broadcasting Centre, Toronto, Ontario

Israel-Hamas ceasefire holds for second day ahead of talks in Cairo
Globe and Mail The, Centrist daily, Toronto, Canada

Liberty Reserve Brought Down By 'Joe Bogus': How The Feds Arrested Arthur Budovsky
International Business Times, Business news organization, New York, U.S

Chile Taps Solar Thermal Energy with Latin America's First Plant
IPS Latin America, International cooperative of journalists, Rome, Italy

China anti-trust regulator conducts new raids on Microsoft and partner Accenture
Reuters, Business News, New York, U.S

Singapore risks business cred with foreign labour restrictions
Reuters, World News, New York, U.S

Brampton mayor breached expense rules hundreds of times
Toronto Star, Toronto, Ontario

US firms to invest $14bn in Africa
BBC News, Centrist newscaster, London, England

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