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Top EU official: Cyprus bank rescue new template

"Inflicting losses on banks' shareholders, bondholders and even large depositors should become the 17-country eurozone's default approach for dealing with ailing lenders, a top European official said Monday. Banks' owners and investors must be held responsible 'before looking at public money or any other instrument coming from the public side,' said Jeroen Dijsselbloem, who chairs the Eurogroup gatherings of the 17 eurozone finance ministers. The bailout program for Cyprus marks the first time in Europe's three-year-old debt crisis that large deposit holders — wealthy savers, business people or institutions — will be forced to take losses." Continue reading →

Continue ReadingTop EU official: Cyprus bank rescue new template

Cyprus bail-out leaves ‘bitter taste’ for residents

"Standing in front of a cash machine on a street corner in Nicosia, Andreas Christou could hardly contain his fury. 'My money is in there and they won’t let me take it out!' he said, a few moments after withdrawing a paltry €100 – the maximum allowable after a draconian new capital control measure was introduced on Sunday. The 52-year-old businessman holds an account with Laiki Bank, the hardest hit of Cyprus’s debt-laden lenders. It will now effectively be dissolved under the terms of a deal brokered between international creditors and Nicos Anastasiades, the president of Cyprus, during marathon talks in Brussels." Continue reading →

Continue ReadingCyprus bail-out leaves ‘bitter taste’ for residents

Defense contractor accused of espionage had worked in deterrence at US Pacific Command

"A civilian defense contractor accused of giving his Chinese girlfriend military secrets worked on developing military plans to deter potential U.S. enemies when the two began their romance, according to his online professional profile and court documents. Bishop was arrested Friday at Pacific Command headquarters at Camp H.M. Smith in Hawaii. The LinkedIn profile says he moved to a different department last May to work on cybersecurity. During that month, the FBI claims, Bishop emailed military secrets to the woman, including war plans and information on nuclear weapons." Continue reading →

Continue ReadingDefense contractor accused of espionage had worked in deterrence at US Pacific Command

New report says there are still no federal safety standards for nation’s bioterror defense labs

"US labs that research bioterror germs such as anthrax are at risk for accidents because they do not have uniform building and operation standards, a Congressional investigative group said on Monday. A lack of oversight has persisted despite a 2009 report by the Government Accountability Office on the same topic, leaving no single agency in charge of safety or research goals at bioterror labs, the GAO said in its report. US labs that research ways to protect against bioterror germs and disease outbreaks have been on the rise since the September 11, 2001 attacks." Continue reading →

Continue ReadingNew report says there are still no federal safety standards for nation’s bioterror defense labs

Vial of easily weaponized virus goes missing in Texas

"A virus that authorities worry could easily be weaponized as an aerosol went missing from a medical research facility in south Texas, an official at the University of Texas Medical Branch (UTMB) in Galveston said Saturday. About a quarter of a teaspoon of frozen viral material went missing last Wednesday, UTMB President David L. Callender explained in prepared text. The virus is an exotic strain from south America called Guanarito, which can cause a life-threatening condition that includes fever, convulsions and hemmhoraging." Continue reading →

Continue ReadingVial of easily weaponized virus goes missing in Texas

CIA helping boost arms shipments to Syria rebels

"Arab nations and Turkey, helped by the CIA, have dramatically increased military aid to Syrian rebels in recent months, The New York Times reported Monday, citing air traffic data and interviews with unnamed officials and the rebel commanders. The airlift has grown to include more than 160 military cargo flights by Jordanian, Saudi and Qatari military-style cargo planes landing at Esenboga Airport near Ankara, and at other Turkish and Jordanian airports, the report said. US intelligence officers have helped the Arab governments shop for weapons and vetted rebel commanders and groups to determine who should receive the weapons as they arrive." Continue reading →

Continue ReadingCIA helping boost arms shipments to Syria rebels

CIA helping boost arms shipments to Syria rebels

"Arab nations and Turkey, helped by the CIA, have dramatically increased military aid to Syrian rebels in recent months, The New York Times reported Monday, citing air traffic data and interviews with unnamed officials and the rebel commanders. The airlift has grown to include more than 160 military cargo flights by Jordanian, Saudi and Qatari military-style cargo planes landing at Esenboga Airport near Ankara, and at other Turkish and Jordanian airports, the report said. US intelligence officers have helped the Arab governments shop for weapons and vetted rebel commanders and groups to determine who should receive the weapons as they arrive." Continue reading →

Continue ReadingCIA helping boost arms shipments to Syria rebels

Retired EPA attorney leads the opposition to ‘smart meters’ in Maryland

"Tea partiers and Green Partiers, liberal Californians and conservative Texans have argued that the meters can cause health problems, or can be hacked, or give utilities too much information about customers' daily lives, or can overheat and cause fires, or underdeliver on financial benefits. The attorneys general of Connecticut, Illinois and Michigan have said in the past few years that smart-meter plans in their states do not clearly benefit consumers, given the multimillion-dollar installation costs. BGE, which began installing smart meters last year and expects to finish in 2014, will have to ask for reimbursement of the $282 million not covered by a federal grant." Continue reading →

Continue ReadingRetired EPA attorney leads the opposition to ‘smart meters’ in Maryland

Bridges become the hottest new item for thieves to steal

"Are you in the market for a 22-tonne bridge? Is there an 82ft gap that you’re aching to span? If so, and assuming you like to play fast and loose with the law, you might want to get over to the Kocaeli province of Turkey where, earlier this month, audacious thieves stole an entire bridge overnight. It’s thought the miscreants intended to sell it for scrap metal; now villagers wanting to reach their orchards have to paddle across barefooted. It’s not the first time thieves have displayed such ambition. Earlier this year half a bridge in India was stolen over the course of three days." Continue reading →

Continue ReadingBridges become the hottest new item for thieves to steal

Cyprus, lenders reach bailout deal; 40% deposit tax agreed

"Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts, Agence France Presse reported. The deal will now be put to the Eurogroup in Brussels for approval, the reports said. The weekend saw tense meetings between Cyprus and the Troika -- the European Commission, the European Central Bank and the International Monetary Fund -- to reach a deal before a Monday evening funding deadline." Continue reading →

Continue ReadingCyprus, lenders reach bailout deal; 40% deposit tax agreed