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Changing the old system.

INSIDER TRADING LANGUAGE GETS WORKOUT AT NY TRIAL

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BY LARRY NEUMEISTER 
ASSOCIATED PRESS 

 Aug 19, 11:22 AM EDT 

 NEW YORK (AP) -- The definition of insider trading has gotten a workout at the Manhattan federal trial of a San Francisco hedge fund founder after he testified that information he elicits from public company executives about earnings or future prospects is legal as long as he is not told exact numbers.

Doug Whitman's testimony over several days last week even raised questions from U.S. District Judge Jed Rakoff when Whitman described where he drew the line between illegal inside information and legitimate research at the West Coast hedge fund firm he founded in 1994.

Finland prepares for break-up of eurozone

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The Telegraph
By , in Helsinki
9:00PM BST 16 Aug 2012

Finland is preparing for the break-up of the eurozone, the country’s foreign minister warned today.

Erkki Tuomioja, Finland's foreign minister: "We have to face openly the possibility of a euro-break up".
 

The Nordic state is battening down the hatches for a full-blown currency crisis as tensions in the eurozone mount and has said it will not tolerate further bail-out creep or fiscal union by stealth.

“We have to face openly the possibility of a euro-break up,” said Erkki Tuomioja, the country’s veteran foreign minister and a member of the Social Democratic Party, one of six that make up the country’s coalition government.

5 MILLION FARMERS SUE MONSANTO FOR $7.7 BILLION

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Launching a lawsuit against the very company that is responsible for a farmer suicide every 30 minutes, 5 million farmers are now suing Monsanto for as much as 6.2 billion euros (around 7.7 billion US dollars). The reason? As with many other cases, such as the ones that led certain farming regions to be known as the ‘suicide belt’, Monsanto has been reportedly taxing the farmers to financial shambles with ridiculous royalty charges. The farmers state that Monsanto has been unfairly gathering exorbitant profits each year on a global scale from “renewal” seed harvests, which are crops planted using seed from the previous year’s harvest.

 

Lord Rothschild takes £130m bet against the euro

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Telegraph.co.uk 

 

Lord Rothschild has taken a near-£130m bet against the euro as fears continue to grow that the single currency will break up. Chairman of RIT Capital Partners, Lord Jacob Rothschild arrives for a reception, hosted by Britain's Prince Charles, at Clarence House in London for the delegates of the Global Investment Conference, Thursday, July 26, 2012.

 

9:55PM BST 18 Aug 2012 

 

The member of the banking dynasty has taken the position through RIT Capital Partners, the £1.9bn investment trust of which he is executive chairman.

57 jailed in Gabon after violent protests: opposition

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Google
AFP, August 18, 2012

Supporters of the opposition's National Union party leader Andre Mba Obame take part in a demonstration in Libreville (AFP/File, Xavier Bourgois)

LIBREVILLE — Fifty-seven people arrested in Gabon last week during a violent opposition protest are being held in a barracks and denied food from their families, an opposition leader said Saturday.

Tensions in Gabon's capital Libreville have been simmering since police stopped an unauthorised protest Wednesday in support of opposition leader Andre Mba Obame, who claims he won a 2009 election against current President Ali Bongo Ondimba.

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

Nuclear Power Protests Find Wide Support in Japan

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The Daily Beast
August 19, 2012

A broad coalition of protesters opposes the re-opening of nuclear power plants in Japan, a country unaccustomed to social protest, writes Jake Adelstein and Nathalie-Kyoko Stucky.

Kazuhiro Nogi, AFP / Getty Images

It’s hard to ignore more than 20,000 anti-nuclear protesters at your front door. It’s even harder in a country like Japan, where more often than not repressive tradition and political apathy combine to stifle social protest. So after Yoshihiko Noda, Japan’s unpopular prime minister, found his home surrounded by thousands of protesters for weeks on end, he finally got the message.

Last week the prime minister agreed, albeit reluctantly, to meet with representatives of Japan’s increasingly vocal and influential citizens network “Metropolitan Coalition Against Nukes” (MCAN).

Anti-Japan Protests Flare in China

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The Wall Street Journal
By BRIAN SPEGELE in Beijing
August 19, 2012

[image]
Reuters

Protesters holding banners, placards and Chinese national flags, march down a street during an anti-Japan protest in the southern Chinese city of Shenzhen on Sunday.

BEIJING—Anti-Japanese protests flared across China, including in front of Japan's diplomatic consulates, as Japanese activists successfully landed on the disputed Senkaku islands in the East China Sea.

More than 1,000 demonstrators in Chinas' southern city of Shenzhen, across the border from Hong Kong, paraded through the city's streets on Sunday, waving Chinese flags and calling for the government to defend the country's territorial claims. Japan controls the islands, also claimed by China and Taiwan, which call them Diaoyu.

Democracy in Bahrain will threaten Saudi Arabia: Analyst

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PressTV
August 18, 2012

Saudi-backed Bahraini forces have beaten to death a 16-year-old boy as anti-regime demonstrations continue across the Persian Gulf country.
 


The teenager, identified as Husam al-Haddad, was killed when regime forces launched an attack on a peaceful demonstration on Friday night.
Bahrain’s Interior Ministry confirmed Haddad’s death.


Anti-regime demonstrations in Bahrain continue despite the heavy-handed crackdown by the security forces.

To read the rest of this story, visit PressTV.ir.

Mine violence hits at South Africa political power nexus

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Chicago Tribune
Jon Herskovitz /Reuters
4:12 p.m. CDT, August 18, 2012Striking miners hold weapons as they wait to be addressed by former African National Congress Youth League President Julius Malema outside a South African mine in Rustenburg

Striking miners hold weapons as they wait to be addressed by former African National Congress Youth League President Julius Malema outside a South African mine in Rustenburg (SIPHIWE SIBEKO, REUTERS / August 18, 2012)

MARIKANA, South Africa (Reuters) - The bloody protest by South African miners that ended in a hail of police gunfire and 34 deaths this week could also wound the ruling ANC and its main labor ally, laying bare workers' anger over enduring inequalities in Africa's biggest economy.


Thursday's shooting, bringing back memories of apartheid-era violence, underlined that after 18 years in power the African National Congress and its union partner have not been able to heal the fissures of income disparity, poverty and joblessness scarring the country.

British bank actions in Libor scandal called 'disgraceful'

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CNN
By the CNN Wire Staff
August 19, 2012 -- Updated 0252 GMT (1052 HKT)

London (CNN) -- A British parliamentary report slammed Barclays bank on Saturday for its "disgraceful" actions that led to a rate-rigging scandal.

The Treasury Select Committee issued a report after recent hearings over the scandal. Barclays was fined $450 million by British and American regulators after some of its traders purposely manipulated its interest rates as part of Libor, or London Interbank Offered Rate. The scandal also led to the resignation of Bob Diamond, its chief executive.

To read the rest of this story, visit Edition.CNN.com.

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