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From PIIGS to protests, an A-Z of the eurozone

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The Independent
Russell Lynch, 25 August 2012

From suffering PIIGS to violent protests, from an unbreakable currency to ideas for a swift exit, Russell Lynch charts the past two years of strife on the Continent

After more than two years of turmoil on the Continent, there are still no signs of a solution in sight

Back in heady pre-credit crunch days, Europe was a place you went on holiday, rather than a byword for financial meltdown and recession. Now it's virtually impossible to see the word eurozone in a sentence without the phrase debt crisis following close behind. After more than two years of turmoil on the Continent, and still no signs of a solution in sight, readers may be struggling to keep up. Here's a handy A-Z guide to all you need to know.

EFCC Arrests 3 Top Bankers Over N855m Fraud

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GFP Note: N855,000,000 is about $5.5 million.

Information Nigeria
Posted by Tolex, August 9, 2012

The Economic and Financial Crimes Commission has arraigned three officials of the defunct Bank PHB (now Keystone Bank Plc), the bank itself and a firm, Nulec Industries Limited for fraud totaling N855,000,000.

The bank officials – Ananyo Nwosu, Olajide Oshodi, Sunny Obazee, and the Managing Director, Nulec Industries, Mr. Ashok Isran – were arraigned before a Laos High Court in Ikeja.

To read the rest of this story, visit informationnigeria.org.

Second tycoon arrested amid bank run in Vietnam

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Google.com
August 23, 2012, AFP

HANOI — Vietnam arrested another top banker Thursday, state media said, widening a police probe into the communist country's banking sector which has rattled markets and triggered a run on deposits.

The arrest of Ly Xuan Hai for "deliberate wrongdoing causing serious consequences" came just hours after the Asia Commercial Bank announced he had resigned from the position of director general, Thanh Nien online reported.

To read the rest of this story, visit Google.com.

UPDATE 3-Vietnamese bank faces run after tycoon's arrest

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Reuters

August 23, 2012, By Ho Binh Minh

Nguyen Duc Kien is a shareholder in some of Vietnam's largest financial institutions (AFP, Hoang Dinh Nam)

HANOI Aug 23 (Reuters) - A major Vietnamese bank founded by arrested tycoon Nguyen Duc Kien faced a run on deposits on Thursday, witnesses said, but the central bank has injected funds into the banking system and assured jittery residents their money is safe.

Monday's arrest of Kien, 48, sent shockwaves through the Communist-run country, triggering a 9.2 percent slide in the stock market this week and causing depositors to pull funds from Asia Commercial Bank (ACB), one of Vietnam's biggest lenders, which Kien helped found in 1994.

Chef’s Redemption Tells of a Softening North Korea

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The New York Times

By August 24, 2012

Kosuke Okahara for The New York Times. Kenji Fujimoto, who was a chef for Kim Jong-il, with photos of his recent visit to Pyongyang.

TOKYO — For years, the Japanese sushi chef who spent over a decade working for the Kim family in North Korea lived in dread of a knock on the door by an agent sent to kill him for returning to Japan and writing a tell-all book exposing the rulers’ extravagant lifestyle.

Sprott – We Are Staring At Chaos & Collapse In Front Of Us

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Friday, August 24, 2012 22:00 

 

 

King World News

Today billionaire Eric Sprott spoke with King World News about one of his frightening predictions, “I always postulated that the financial system would go bankrupt, and it has, save for one thing, it got bailed out.” Sprott, who is Chairman of Sprott Asset Management, also added, “But I don’t think the central planners have a winning hand here. They’re not going to win.”

Families question Scientology-linked drug rehab after recent deaths

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NBC News
August 16, 2012, By Anna Schecter

Famous Scientologists like Tom Cruise and John Travolta have touted the value of Narconon, a drug rehabilitation program based on the teachings of Scientology founder L. Ron Hubbard. "We are the authorities on getting people off drugs," Cruise said in a video about Scientology released online.

John Travolta hosted a fundraiser for Narconon's Hawaii location in 2007.

To read the rest of this story and see the video, visit rockcenter.nbcnews.com.

Phillp Seymour Hoffman ‘The Master;’ Scientology or Not?

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The Improper
August 16, 2012

Film Examines Pseudo-Religions After World War II

hoffman phoenix themaster Phillp Seymour Hoffman The Master; Scientology or Not? (watch!)

Phillp Seymour Hoffman, Joaquin Phoenix and Amy Adams provide glimpses of stellar performances in a new trailer for the movie “The Master.” Say what you will, the film smacks of Scientology.

The pseudo-religion was founded after World War II by L. Ron Hubbard, a paperback novel writer, and has risen to become an influential and secretive organization.

It has made strong inroads in Hollywood and counts Tom Cruise and John Travolta among its members. But many former adherents have denounced Scientology as a cult tightly controlled by its leaders for personal gain.

Facebook (FB) stock: Mark Zuckerberg, is he to blame for Facebook's slumping stock?

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New Channel 5, WPTV
Posted: 08/24/2012, By: Heather Kelly CNN

WPTV-facebook Mark Zuckerberg

Facebook (FB) has had a rough first three months as a public company. The social network's stock has performed poorly since going public in May, and on Monday morning it dropped to an all-time low of $18.75.
Photographer: Getty Images. Copyright Getty Images

CNN) -- Mark Zuckerberg is not in danger of losing his job, but that doesn't mean he can brush off recent criticism of his leadership.


Facebook has had a rough first three months as a public company. The social network's stock has performed poorly since going public in May, and on Monday morning it dropped to an all-time low of $18.75 -- less than half of the company's initial share price of $38.

To read the rest of this story, visit WPTV.com.

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