Mainstream News

Golden trail: Dubai to Chennai via Delhi

"Directorate of Revenue Intelligence (DRI) sleuths on the trail of 16kg gold boarded the Delhi-Chennai Rajdhani Express when it neared the outskirts of the city and followed the smugglers all the way to city before seizing the contraband and arresting four people, including two Sri Lankans, on Friday. Investigators intercepted the train when it reached Gummidipoondi railway station and boarded it. They identified the smugglers and tailed them to a house at Kodambakkam where they delivered the consignment. This is the second major seizure since March when DRI caught a senior diplomat from the UAE for allegedly smuggling 37kg gold jewellery." Continue reading →

Continue ReadingGolden trail: Dubai to Chennai via Delhi

Estate auction set for $6.5 million gold coin fortune amassed by Nevada recluse

"The final treasures of a quiet man who collected a fortune in gold coins will be auctioned off Tuesday in Nevada. The body of Walter Samaszko Jr. was found in his Carson City home in June 2012. A cleaning crew hired to tidy his modest, ranch style home where he had lived for four decades came upon a stunning discovery — boxes and boxes full of gold coins and bullion collected over an unassuming lifetime. It was enough to fill two wheelbarrows. The fortune, after taxes, will go to Samaszko's only surviving cousin, Arlene Magdanz of San Rafael, Calif. A substitute teacher, Magdanz has shunned media attention and not spoken publicly about her new-found riches." Continue reading →

Continue ReadingEstate auction set for $6.5 million gold coin fortune amassed by Nevada recluse

BIS blames European banks for eternal euro crisis

"Europe's creditor powers bear as much blame as debtors for the eurozone's eternal crisis and are blocking recovery by failing to play a full part in righting the ship, according to the Bank for International Settlements. The BIS said European banks played a huge role in stoking the pre-Lehman credit bubble. They rotated $1.25 trillion into US debt alone between 2003 and 2007, greater than the combined purchases of Asia and OPEC. It said banks funnelled money into southern Europe regardless of risk in 'expectations of a bail-out' if any country got into trouble." Continue reading →

Continue ReadingBIS blames European banks for eternal euro crisis

IMF sees no end to French jobless crisis this decade

"The IMF said the jobless rate will rise yet further to 11.6pc in 2014 and will not drop below 10.6pc within Mr Hollande’s five-year term. If this grim scenario unfolds, it will be a political hammer blow for Mr Hollande. He asked the nation to judge him on his record in 'bending the unemployment curve'. The Fund said efforts to bring down the budget deficit should focus on spending cuts rather than fresh taxes, 'which are among the highest by international standards and have a negative effect on investment and job creation'. Two-thirds of Mr Hollande’s fiscal squeeze has come from taxes, to the fury of the business lobby Medef." Continue reading →

Continue ReadingIMF sees no end to French jobless crisis this decade

Meet Tian Yu: The woman who nearly killed herself making your iPad

"Tian Yu worked more than 12 hours a day, six days a week. She had to skip meals to do overtime. Then she threw herself from a fourth-floor window. Without its No 1 supplier, the Cupertino giant’s current riches would be unimaginable: in 2010, Longhua employees made 137,000 iPhones a day, or around 90 a minute. That same year, 18 workers – none older than 25 – attempted suicide at Foxconn facilities. Fourteen died. Tian Yu was one of the lucky ones: emerging from a 12-day coma, she was left with fractures to her spine and hips and paralysed from the waist down. She was 17." Continue reading →

Continue ReadingMeet Tian Yu: The woman who nearly killed herself making your iPad

Taken: The Use And Abuse Of Civil Forfeiture

"Hundreds of state and federal laws authorize forfeiture for cockfighting, drag racing, basement gambling, endangered-fish poaching, securities fraud, and countless other misdeeds. In general, you needn’t be found guilty to have your assets claimed by law enforcement; in some states, suspicion on a par with 'probable cause' is sufficient. Nor must you be charged with a crime, or even be accused of one. Unlike criminal forfeiture, which requires that a person be convicted of an offense before his or her property is confiscated, civil forfeiture amounts to a lawsuit filed directly against a possession, regardless of its owner’s guilt or innocence." Continue reading →

Continue ReadingTaken: The Use And Abuse Of Civil Forfeiture

Senate edited Snowden’s Wikipedia page to change description from ‘dissident’ to ‘traitor’

"In a move sure to grind the gears of conspiracy theorists everywhere, a member of the US Senate recently edited Snowden’s Wikipedia page from describing him as a ‘dissident’ to a traitor, according to the entry’s changelog. The user’s IP address was quickly traced back to the US Senate. It is not clear if the person is an active Senator, a staffer or an intern, but the change certainly came from the Senate. The attempted edit, made August 2, was rejected by a moderator on the grounds it ‘seemed less than neutral,’ according to the posted rejection, which also listed the IP address and showed it was registered to the US Senate." Continue reading →

Continue ReadingSenate edited Snowden’s Wikipedia page to change description from ‘dissident’ to ‘traitor’

Japan calls on U.S. to suspend military chopper operations in Okinawa

"Japan’s prime minister on Tuesday called on the US military to suspend helicopter operations in the country’s southern Okinawa island chain after a fatal crash. An American HH-60 helicopter with four personnel on board crashed at the Camp Hansen Marine base on Monday. The base is located on Okinawa, which is home to tens of thousands of US military personnel, with the latest incident stoking renewed concerns among many residents about the vast American presence there. Okinawans have mounted protests against both the US military and its deployment of the controversial Osprey aircraft on the island." Continue reading →

Continue ReadingJapan calls on U.S. to suspend military chopper operations in Okinawa

Justice Department to review DEA’s mass surveillance program

"The Justice Department is reviewing a U.S. Drug Enforcement Administration unit that passes tips culled from intelligence intercepts, wiretaps, informants and a large telephone database to field agents, White House Press Secretary Jay Carney said Monday. 'It’s my understanding… that the Department of Justice is looking at some of the issues raised in the story,' Carney said during his daily briefing at the White House on Monday. Carney referred reporters to a Justice Department spokesman, who confirmed that a review was under way, but declined further comment." Continue reading →

Continue ReadingJustice Department to review DEA’s mass surveillance program

Visitors flock to Pakistani-controlled Kashmir valley in rare tourist boom

"Success stories can be rare in Pakistan, but business is booming in one Kashmir tourist spot as the region rebuilds after a devastating earthquake and shrugs off associations with violence. Hundreds of thousands of Pakistani tourists drawn to the lakes and glaciers of the Neelum valley are injecting desperately needed money into one of the poorest parts of the country. With a new road built by the Chinese after the 2005 earthquake killed 73,000 people and a ceasefire holding with India, Pakistanis are discovering the snow-capped peaks, glaciers, lakes and lush-green meadows of the Neelum valley." Continue reading →

Continue ReadingVisitors flock to Pakistani-controlled Kashmir valley in rare tourist boom