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Japanese university to retract Novartis study based on fabricated data

“A Japanese university is to retract a study that touted the effectiveness of a blood pressure drug made by Swiss pharmaceutical giant Novartis because it was based on fabricated data. The move was the latest chapter in a growing scandal over allegations that bogus data were used in a string of Japanese university studies for the drug Valsartan which exaggerated its effectiveness in preventing strokes and angina. On Wednesday, Tokyo’s Jikei University School of Medicine said it would retract research that appeared in respected medical journal The Lancet six years ago.” Continue reading →

Energy drink makers tell Senate panel they’re being ‘victimized’

“Energy drinks are a small but growing segment in the non-alcoholic beverage industry in the United States, but health experts have expressed concern that their caffeine content poses risks in youngsters as heart arrhythmia and higher blood pressure. Last month, the American Medical Association called for a ban on the marketing of energy drinks to children and teenagers, said Senator Jay Rockefeller at the start of the hearing. He stated that in the first six months of this year, poison control centers in the United States received about 1,500 reports involving energy drinks, ‘more than half of which involved children under the age of 18.'” Continue reading →

Arizona Man Holding Air Rifle Killed In His Own Backyard In Drug Raid

“Tempe, Arizona, police in the Special Investigations/Narcotics Unit serving a drug search warrant Wednesday afternoon shot and killed a man in his backyard as he held an air rifle. John Wheelihan, 43, becomes the 22nd person to die in US domestic drug law enforcement operations so far this year, and the sixth in the last month. The victim appears to be a local photographer whose listed business address matches the address the police raided. Police did not say whether they were serving a ‘no-knock’ warrant, whether they were uniformed or undercover, or whether any drugs were discovered.” Continue reading →

Mexico’s peyote casts mind-bending spell on tourists

“The tourists just keep trickling in. They have not been deterred by the difficult topography, and there is no indication they have paid any heed to rusty, metal signs announcing regularly that ‘HARVESTING AND SELLING PEYOTE IS A FEDERAL CRIME.’ Nor has the legal background done anything to change the availability of local guides who, when they hear the magic words from tourists — ‘We want to go out to the desert’ — sidle up and quietly offer their services. Mayor Hector Moreno warned: ‘Peyote is exclusively for (indigenous) Huichol culture. The rest of us are only supposed to promote its preservation and respect for it.'” Continue reading →

Bankrupt Detroit Receives Less U.S. Aid Than Colombia

“President Barack Obama proposed giving Colombia about $323 million in aid next year, mostly to combat drug trafficking and violence. Detroit, with an 81 percent higher homicide rate, will get $108.2 million. Detroit’s implosion has rekindled debate over how and whether a federal government that managed to provide more than $700 billion in aid to banks and automakers in 2008 and 2009 should help cities with unsustainable retirement debt, hollowed-out tax bases and diminished services that endanger the public. From 1990 to 2010, the percentage of the U.S. population that lives in urban areas grew to 81 percent from 75 percent.” Continue reading →

Judge: Merchants owed millions in credit card fees ‘inappropriately’ inflated by Fed

“The 2010 Dodd-Frank law called for the Fed to cap such fees, which banks charge to retailers when their customers use debit cards to make purchases. Judge Richard Leon of the U.S. District Court for the District of Columbia sided with retailers, who argued the Fed’s 21 cent cap was higher than Congress intended. The so-called Durbin amendment to Dodd-Frank, named for its sponsor, Democratic Senator Richard Durbin of Illinois, was intended to reduce burdens on retailers and hopefully trickle down to consumers in the form of lower prices.” Continue reading →

Obama set to sign bill to lower student loan interest rates

“The House of Representatives on Wednesday passed a bill that would reverse a recent hike in federal student loan interest rates, lowering them to 3.86 percent for undergraduates in the new school year. The bill pegs interest rates on student loans to the 10-year Treasury note plus 2.05 percentage points for undergraduates, and plus 3.6 percentage points for graduate loans. The bill, a result of extensive negotiations in mid-July among a coalition of U.S. senators composed of Democrats, Republicans and an independent, now waits to be signed into law by President Barack Obama.” Continue reading →

Obama delivers ‘full-throated defense’ of Larry Summers to House Democrats

“President Barack Obama defended Larry Summers’ credentials during a meeting with House Democrats on Wednesday. Rep. Gerry Connolly (D-VA) told The Hill that Obama had given a ‘full-throated defense’ of Summers during the meet at the Capitol. Obama is rumored to be considering nominating Summers to replace Ben Bernanke as chairman of the Federal Reserve. Obama described Summers as a loyal and important adviser during the 2008-2009 financial crisis. Summers had served as director of the U.S. National Economic Council under President Barack Obama. He resigned in 2010.” Continue reading →