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Thursday, 13 March 2014

March 13, 2014: News Updates

Trader kills self in finance world’s latest suicide

March 12, 2014 | 5:45pm
A Manhattan trader was killed Tuesday morning by a speeding Long Island Rail Road commuter train, marking at least the seventh suicide of a financial professional this year.
Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, jumped in front of an LIRR train at 6 a.m. near the Syosset train station.

Investigators Suspect Missing Airplane Flew On for Hours

march 13 2014
U.S. investigators suspect that Malaysia Airlines Flight 370 stayed in the air for about four hours past the time it reached its last confirmed location, according to two people familiar with the details, raising the possibility that the plane could have flown on for hundreds of additional miles under conditions that remain murky.
Aviation investigators and national security officials believe the plane flew for a total of five hours, based on data automatically downloaded and sent to the ground from the Boeing Co. 777's engines as part of a routine maintenance and monitoring program.

 Serbia’s Vucic Promises U.A.E.’s Billions in Election Bid

By Gordana Filipovic and Dana El Baltaji Mar 13, 2014 12:00 AM GMT+0100
Aleksandar Vucic, the favorite to become Serbian prime minister after elections this month, is campaigning as the candidate who can bring home investment from the United Arab Emirates, including a $4 billion plan to redevelop Belgrade’s waterfront.

UAE formula

In letters addressed to the Prime Minister and dated January 13, 2014, the Minister of Agriculture and former Minister of Economic Affairs, appealed to Stuart to take up an offer from the oil-rich Arabs to restore this country to economic growth.

Estwick also told his boss that the United Arab Emirates were interested in helping Barbados re-establish its investment grade rating and ensuring that it returns to a path of debt sustainability.

The former Minister of Economic Affairs advised Prime Minister Stuart that the traditional use of the International Monetary Fund, World Bank and Inter-American Development Bank as sources of fiscal and debt support and development capital, caused governments to rely too much on the Bretton Woods institutions model of assistance.

French prime minister says euro 'a bit' overvalued

PARIS Thu Mar 13, 2014 8:03pm GMT
(Reuters) - France's prime minister said on Thursday that the euro was "a bit" overvalued, but said that should not discourage France from making efforts to regain competitiveness.

Taiwan banks advised to conduct risk control amid RMB devaluation

Taiwan's financial regulator has said it will not set a cap on the amount of Chinese yuan deposits allowed to be held in the country, but has advised banks to do their best to conduct risk control.

China warns of dangerous Russia sanctions 'spiral'

march 13 2014
(Reuters) - China's top envoy to Germany has warned the West against punishing Russia with sanctions for its intervention in Ukraine, saying such measures could lead to a dangerous chain reaction that would be difficult to control.

Ukraine Aid Delayed Due To, What Else, Congressional Bickering

mar 13/2014
With Russia warning of "boomerangs" and China threatening "unforeseeable consequences" it appears gridlock in Washington is (coincidentally) enabling the US to sit out the first round of shenanigans responses over this weekend's Crimea referendum.
But as AP reports, Congress won't be able to authorize aid to Ukraine until after March 24 amid disagreements among several Republican. Simply put, No Aid For You...

 ETFs Get $41 Billion Erasing Stock Withdrawals on Economy

By Lu Wang, Joseph Ciolli and Callie Bost Mar 13, 2014 5:00 AM GMT+0100
More than $41 billion has returned to U.S. exchange-traded funds that own shares in the past four weeks, reversing withdrawals that swelled to as much as $40.2 billion last month, according to data compiled by Bloomberg. Cash has flowed back as the MSCI All-Country World Index rallied 5.8 percent from the four-month low it reached Feb. 4, when turmoil in emerging markets spurred speculation the global recovery would slow.

 Uzbek leader's daughter faces cash probe

Swiss authorities widen $910m money laundering investigation to include Gulnara Karimova, a former ambassador in Geneva.
Last updated: 12 Mar 2014 14:35
The eldest daughter of Uzbekistan's president has been named as a suspect in a Swiss money laundering investigation into deals worth at least $910m conducted while she was an ambassador in Geneva.
Gulnara Karimova, 41, lost diplomatic immunity when she left her position representing Uzbekistan at the UN last July.

Special court maintains decision to indict Musharraf on March 14

march 13 2014
ISLAMABAD: The special court maintained its decision to indict former president General (retd) Pervez Musharraf on March 14 while hearing the treason case on Thursday, Express News reported.

UAE summons Iraq envoy to protest Saudi terror accusations

20 hours ago
Abu Dhabi (AFP) - The United Arab Emirates summoned Iraq's ambassador on Wednesday to protest accusations by Prime Minister Nuri al-Maliki that Saudi Arabia was supporting terrorism, state media reported.

 Cash Abroad Rises $206 Billion as Apple to IBM Avoid Tax

By Richard Rubin Mar 12, 2014 7:47 PM GMT+0100
The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year, parking earnings in low-tax countries until Congress gives them a reason not to.
The multinational companies have accumulated $1.95 trillion outside the U.S., up 11.8 percent from a year earlier, according to securities filings from 307 corporations reviewed by Bloomberg News. Three U.S.-based companies -- Microsoft Corp. (MSFT), Apple Inc. and International Business Machines Corp. -- added $37.5 billion, or 18.2 percent of the total increase.

Maltese MEPs vote against stronger money laundering law

Labour, Nationalist MEPs vote against stronger anti-money laundering law that was heavily criticised by online gaming businesses
12 March 2014, 4:19pm
Five Maltese MEPs have voted against a parliamentary resolution on the review of Europe’s anti-money laundering rules, the Fourth Anti-Money Laundering Directive that is expected in late 2014.

Jordan parliament wants Israeli envoy kicked out

march 12 14
MPs call ambassador 'dog' and 'pig' demand government expel him within a week
Jordan's Parliament gave the government until Tuesday to expel Israel's ambassador to Amman from the country, threatening to topple the government if it didn't, CNN's Arabic channel reported on Wednesday. Lawmakers were enraged following the Monday shooting of a Jordanian judge by Israeli soldiers, calling the envoy, Daniel Nevo a "pig" and a "dog."

How the NSA Plans to Infect ‘Millions’ of Computers with Malware

By Ryan Gallagher and Glenn Greenwald 12 Mar 2014,
The classified files – provided previously by NSA whistleblower Edward Snowden – contain new details about groundbreaking surveillance technology the agency has developed to infect potentially millions of computers worldwide with malware “implants.” The clandestine initiative enables the NSA to break into targeted computers and to siphon out data from foreign Internet and phone networks....
...In some cases the NSA has masqueraded as a fake Facebook server, using the social media site as a launching pad to infect a target’s computer and exfiltrate files from a hard drive. In others, it has sent out spam emails laced with the malware, which can be tailored to covertly record audio from a computer’s microphone and take snapshots with its webcam. The hacking systems have also enabled the NSA to launch cyberattacks by corrupting and disrupting file downloads or denying access to websites.

New York hospital warns patients of possible HIV, hepatitis exposure

NEW YORK Thu Mar 13, 2014 1:19am EDT- 3 hours ago
(Reuters) - A New York hospital on Wednesday alerted more than 4,200 patients who may have received insulin of possible exposure to hepatitis viruses and human immunodeficiency virus (HIV) due to possible blood contamination, officials and local media said.

South Nassau Communities Hospital in Oceanside on Long Island, near New York City, said patients may have received insulin from a pen reservoir - not a single-use disposable needle - that could have been used on more than one patient.

McDonald's hit by worker lawsuits claiming it steals wages

mar 13 2014
(Reuters) - McDonald's Corp workers in three U.S. states filed lawsuits this week against the fast-food chain, alleging it is stealing wages by forcing them to work off the clock, by cheating them out of overtime and by denying them rest breaks.

Libyan ex-premier Zeidan flees to Europe

March 13 2014
Former Libyan prime minister Ali Zeidan has fled to Europe. Unconfirmed reports that he flew via Malta to Germany have not been verified.  Maltese Prime Minister Joseph Muscat told the state-owned Maltese television TVM that Zeidan stopped over on the Mediterranean island nation late on Tuesday.
Maltese government sources quoted by Reuters said Zeidan left on board a private plan bound for Germany. This was not confirmed by German authorities.

6 killed in ambulance aircraft crash in Colombia

March 13, 2014 9:31 am
BOGOTA, Mar 13 –Colombian authorities confirmed on Wednesday that an ambulance aircraft crashed near Villavicencio's Vanguardia airport in the central Meta department, killing six people.

Bahrainis demand exit of Saudi forces

Thu Mar 13, 2014 7:34AM GMT
Bahraini anti-regime protesters have once again poured onto the streets to demand an end to the Saudi occupation of their country.

1000s of Argentineans march for pay rise

-March 12/14
Thousands of teachers and government workers have taken to the streets of Argentina's capital, Buenos Aires, calling for a pay rise.