Mainstream News

Man who created own credit card sues bank for not sticking to terms

"Mr Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles. Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card. Earlier this week a Russian judge ruled in Mr Argakov's favour. Tinkoff had signed the contract and was legally bound to it. Mr Argakov was only ordered to pay an outstanding balance of 19,000 rubles (£371)." Continue reading →

Continue ReadingMan who created own credit card sues bank for not sticking to terms

Hunger-striking California inmate on 27 years in solitary

"The core demand is an end to indefinite solitary confinement in Security Housing Units, known as SHUs. Some inmates have been in such cells for decades. Strike leaders – an unusual alliance of whites, African Americans and Latinos – say the conditions amount to torture and that the system for selecting those for segregation is callous and capricious. A condition of release into the general jail population is to 'debrief' – inform – against gang members. Authorities reject the criticism and say the strike is an attempt by gang leaders to regain the ability to terrorise fellow prisoners, staff and communities throughout California." Continue reading →

Continue ReadingHunger-striking California inmate on 27 years in solitary

Obama announces proposals to reform NSA surveillance

"At his first full news conference in more than three months, Obama said he intends to work with Congress on proposals that would add an adversarial voice — effectively one advocating privacy rights — to the secret proceedings before the Foreign Intelligence Surveillance Court. Several Democratic senators have proposed such a measure. In addition, Obama said that he intends to work on ways to tighten one provision of the Patriot Act - known as Section 215 - that gives the government broader authority toobtain business phone data records." Continue reading →

Continue ReadingObama announces proposals to reform NSA surveillance

Secret NSA loophole allows data gathering on U.S. citizens without a warrant

"The previously undisclosed rule change allows NSA operatives to hunt for individual Americans’ communications using their name or other identifying information. Senator Ron Wyden told the Guardian the NSA’s authorities provide loopholes that allow 'warrantless searches for the phone calls or emails of law-abiding Americans'. The authority, approved in 2011, appears to contrast with repeated assurances from Barack Obama and senior intelligence officials to both Congress and the American public that the privacy of US citizens is protected from the NSA’s dragnet surveillance programs." Continue reading →

Continue ReadingSecret NSA loophole allows data gathering on U.S. citizens without a warrant

Greek youth unemployment soars to 64.9% as Biden claims stake in Greece’s success

"Greek prime minister Antonis Samaras will hold talks with US President Barack Obama later on Thursday. Mr Samaras is keen to secure US approval for stimulus policies for Greece's recession-hit economy, in contrast to the austerity emphasis preferred by many of its European partners, most notably Germany. US vice president Joe Biden said America had 'a stake' in Greece's economic recovery and wanted the crisis-hit nation to stay in the eurozone. 'The administration has always taken the view that it's overwhelmingly in our interest to have Greece remain a strong and vital part of the eurozone,' he said." Continue reading →

Continue ReadingGreek youth unemployment soars to 64.9% as Biden claims stake in Greece’s success

Greece becoming new Kosovo as youth jobless hits 65%

"Latest data from the Greek statistics agency showed the overall jobless rate rose to 27.6pc in May, despite a mass exodus of the best-educated young workers to the US, Australia, Britain and Germany. The figure is likely to rise further as Athens lays off 15,000 public sector workers by the end of next month to comply with European Union-International Monetary Fund (EU-IMF) Troika demands. EU economics chief Olli Rehn said Greek austerity was 'difficult but necessary', and should bear fruit in 2014. The IMF expects public debt to spiral to 176pc this year, and has warned EMU creditor states that they will have to provide substantial debt relief." Continue reading →

Continue ReadingGreece becoming new Kosovo as youth jobless hits 65%

PetroChina to join Exxon on giant Iraqi oilfield

"China’s biggest energy firm PetroChina will join Exxon Mobil in developing Iraq’s giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, industry sources said on Friday. China is already the top foreign player in Iraq’s southern oilfields and a deal at West Qurna would boost its dominance and could make PetroChina the biggest single foreign investor. PetroChina partners BP at Rumaila, Iraq’s biggest oilfield, and operates the Halfaya field. The company was the first foreign firm to sign an oil service deal in Iraq after U.S.-led forces toppled former president Saddam Hussein." Continue reading →

Continue ReadingPetroChina to join Exxon on giant Iraqi oilfield

China Tests Japan on Senkaku Island Claims After Philippine Success

"China deployed ships to waters near islands disputed with Japan for a record 28 hours, drawing a formal protest as it repeated a strategy of pressing its territorial claims through bolder projections of maritime power. Ships from China’s newly formed coast guard remained in the Japanese-controlled waters for the longest time since Japan bought the islands last year, Cabinet Secretary Yoshihide Suga said. Japan’s Foreign Ministry summoned a Chinese diplomat and 'sternly protested,' he said. The Chinese action around the islands comes two days after Japan unveiled the largest military ship it has produced since World War II." Continue reading →

Continue ReadingChina Tests Japan on Senkaku Island Claims After Philippine Success

Iran Tanker Owner Seen Expanding Fleet by IHS Amid Sanctions

"NITC, Iran’s biggest tanker company, increased the capacity of its supertanker fleet by 23 percent this year amid sanctions related to the nation’s nuclear program that bar most of the world’s ships from carrying Iranian crude, according to IHS Maritime. NITC has 37 supertankers and its entire fleet can hold about 86 million barrels of oil, equal to 65 days of the nation’s exports, IHS data show. European Union sanctions that started in July 2012 prevent most non-Iranian tankers from hauling the country’s crude because almost all ships are insured under the 28-nation bloc’s laws." Continue reading →

Continue ReadingIran Tanker Owner Seen Expanding Fleet by IHS Amid Sanctions

‘Slipping Back Into Cold War Thinking’

"Russia's loss is Sweden's gain: On Wednesday, the White House revealed that US President Obama will visit Stockholm on September 4-5, on his way to the G-20 summit in St. Petersburg. 'Sweden is a close friend and partner to the United States,' said the press secretary in a statement. And right now, Russia isn't. Obama was originally planning to be in Moscow on these dates for talks with President Vladimir Putin -- but the Russian leader has been given the brush-off. It seems the Kremlin's decision to grant asylum to fugitive US spy agency contractor Edward Snowden was the final straw." Continue reading →

Continue Reading‘Slipping Back Into Cold War Thinking’