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Changing the old system.

Archbishop Tutu dodges event over Blair

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PressTV
August 28, 2012

Archbishop Desmond Tutu has decided not to take part at a leadership event in South Africa in protest at the presence of former British Prime Minister Tony Blair at the event.

The Discovery Invest Leadership Summit in Johannesburg was due to be held with the presence of Nobel Peace Prize winner Archbishop Tutu, Tony Blair and chess grandmaster and Russian activist Garry Kasparov.

But, the Archbishop described former premier’s support for the invasion of Iraq as "morally indefensible."

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

Gaza to be 'unlivable' by 2020 unless immediate action taken - UN

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RT
Published: 28 August, 2012, 02:13
Edited: 29 August, 2012, 10:05

A Palestinian girl sleeps in front of a house, destroyed during the three-week offensive Israel launched in the northern Gaza Strip October 16, 2009 (Reuters / Mohammed Salem)

Gaza will no longer be “livable” by 2020 unless urgent measures are taken to improve the area’s water supply, power, health and schooling, according to a UN report.

“Action needs to be taken right now on fundamental aspects of life: water sanitation, electricity, education, health and other aspects,” UN humanitarian coordinator Maxwell Gaylard told journalists.

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

Public sector banks: Troubles continue

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Business Standard
Shishir Asthana, Mumbai, August 31, 2012

The Mahapatra Committee recommendations could erode a large portion of public sector banks' net worth

Public sector banks are in trouble and have betrayed this fact by objecting to the recommendations made by Reserve Bank of India’s committee on loan restructuring. The Mahapatra Committee set up by the central bank had suggested the abolition of regulatory forbearance while recasting debt after two years. If implemented, this would mean that all restructured loans will have to be classified as NPAs (non-performing assets).

Credit rating agency Crisil has revised its loan recast figure to Rs 3.25 lakh crore for 2012-13 which is a sharp rise from Rs 2.18 lakh crore for 2011-12. Nearly 80 per cent of these loans are in the books of public sector banks.

To read the rest of this story, visit business-standard.com.

Barclays New Boss is Not Like Bob Diamond; JPMorgan Still Working on Whale Probe: Roundup

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New York Observer
Patrick Clark, 8/31/12

New Barclays boss Antony Jenkins is the only CEO of a global universal bank without a background in investment banking, and according to Bloomberg, the low-profile retail banker is everything that former CEO Bob Diamond wasn’t. Mr. Jenkins, the first in his family to attend university, started his career at Barclays in 1983 and, after a stint at Citi, returned in 2006. Barclays chairman Marcus Agius, expected to step down in the wake of the Libor scandal now that the task of replacing Mr. Diamond is complete, said that Mr. Jenkins stood out in a competitive field of candidates, according to The New York Times. Former U.K. financial services chief Paul Myners told Bloomberg that there were “probably less than four credible candidates, two of whom I know were approached and turned it down almost without any serious consideration.”

Serious Fraud Office investigating Barclays payments to Qatar

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The Guardian, 29 August 2012

Barclays faces criminal investigation into payments made to Qatar Holding after bank sought emergency funding in 2008

Barclays bank sign

Barclays is under investigation by the Serious Fraud Office over payments made to Qatar Holding in 2008. Photograph: David Sillitoe for the Guardian
 

The Serious Fraud Office has launched an investigation into payments made after Barclays tapped Middle Eastern investors for emergency funds in 2008.

Bloomberg View: Getting to the Bottom of Libor

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Bloomberg Business Week
August 30, 2012

The headquarters of Barclays, right, in the Canary Wharf business district of London

Photograph by Simon Dawson/Bloomberg

The headquarters of Barclays, right, in the Canary Wharf business district of London

The global investigation into the manipulation of the London interbank offered rate has so far done a good job of exposing how bankers corrupted one of the world’s most important financial indicators. Now authorities need to take a giant step further: make banks release the data needed to determine how much damage was done and who should bear the most responsibility.

Protesters Say They Were ‘Successful’ in Tampa Despite Low Turnout

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The Daily Beast

Aug 31, 2012, by

Plagued by sparse attendance throughout the GOP convention, protesters from Code Pink and Occupy Wall Street still say they had some success. Lynn Waddell reports on the mass arrests that never materialized.

Republican Convention Protests

Demonstrators chant during a protest march while using a puppet in the likeness of Mitt Romney, on Aug. 30 in Tampa. (Dave Martin / AP Photo)

As delegates cheered Mitt Romney inside the Republican National Convention on Thursday night, 500 protesters at a downtown Tampa park eight blocks away crowned an effigy of the presidential nominee “king of the one percent.”

Sentinel ruling may hurt MF Global clients

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GFP Note: Please click on the link at the bottom to read the rest of this story. The gist is that the "Sentinel Ruling" means that banks can mix customer money with their own money and also use it to pay off creditors.

 

Reuters
By Tom Polansek and Ann Saphir

CHICAGO | Thu Aug 9, 2012 8:18pm EDT

 

(Reuters) - A ruling in the case of failed futures brokerage Sentinel Management Group could make it more difficult for customers to recoup money lost in the much larger collapse of MF Global, according to Sentinel's bankruptcy trustee.

A federal appeals court on Thursday upheld a ruling that puts Bank of New York Mellon ahead of former customers of Sentinel in the line of those seeking the return of money lost in the 2007 failure of the suburban Chicago-based futures broker.

'Occupy the Seed!' Vandana's Call for Seed Freedom

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'Occupy the Seed!' Vandana's Call for Seed Freedom + Free Seed Saving eBook

Sebastian von Holstein |
Sunday, 26th August 2012

Following on from the Occupy movements that have taken the world by storm, Dr. Vandana Shiva has planned a two-week campaign named the Seed Freedom Fortnight of Action, also known as 'Occupy the Seed'. To help launch the campaign we offer a free vegetable seed saving guide eBook.

shiva.jpg

image from www.consciousagriculture.org

(thanks to Ami)

Creating Awareness for Seed Freedom

The campaign is symbolically set to begin on Mahatma Ghandi's birth date on October 2, through to October 16th. It will seek to improve awareness of the growing threat that patented seeds pose on both our crop diversity and personal freedoms. It will also act to improve our relationship with a universal food supply that humanity has grown to take for granted.

In a video entitled Seed Freedom, Vandana Shiva states that while "farmers [continue to] have their seeds in their hands, there will never be poverty, never be hunger." However, large corporations such as Monsanto have created what she refers to as a "seed emergency", preventing farmers from accessing and controlling their own supply of seeds, by genetically modifying, patenting and then circulating 'sterile' seeds. Farmers who continue to grow seeds traditionally often suffer from cross contamination and run the risk of being sued by Monsanto, under the pretence that they have stolen 'modified genes.'

Digital pills make their way to market

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Nature.com
July 30, 2012 - Posted by Amy Maxmen

Digestible microchips embedded in drugs may soon tell doctors whether a patient is taking their medications as prescribed. These sensors are the first ingestible devices approved by the US Food and Drug Administration (FDA). To some, they signify the beginning of an era in digital medicine.

“About half of all people don’t take medications like they’re supposed to,” says Eric Topol, director of the Scripps Translational Science Institute in La Jolla,California. “This device could be a solution to that problem, so that doctors can know when to rev up a patient’s medication adherence.” Topol is not affiliated with the company that manufactures the device, Proteus Digital Health in Redwood City,California, but he embraces the sensor’s futuristic appeal, saying, “It’s like big brother watching you take your medicine.”

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