Global News Journal
Beyond the World news headlines
from Reuters Investigates:
Reuters trade correspondent in Washington Doug Palmer had an unusual assignment: buy a fake Louis Vuitton handbag on the Internet, and take it to a LVMH store for a comparison test, before handing it over to U.S. authorities.
What was startling was how easy it was to find websites selling a dazzling array of stuff online. This is the new face of
piracy and its costing businesses billions. No need to skulk around back alleys or some pirate's rental van to browse through footwear, watches, DVDs and whatnot. Just pick out your LV shoulder tote from a virtual catalog on a website based in China. It looks and feels like the real thing at a fraction of the price.
Counterfeit goods ranging from shoes to software seized by the U.S. government on display at the National Intellectual Property Rights Coordination Center in northern Virginia, October 7, 2010. REUTERS/Jason Reed
The bulk of these goods comes from China. The workshop of the world is also the sweatshop oif the world when it comes to making fake goods.
from Reuters Investigates:
In Mongolia's South Gobi desert lies Oyu Tolgoi, touted as having the world's largest untapped copper and gold deposits. Little wonder then that this "El Dorado" has become a boardroom battleground between the relatively unknown Ivanhoe Mines and its biggest shareholder, the giant Australian mining company, Rio Tinto.
Our attempts to get near this mine or elicit any comment from Ivanhoe were about as fruitless as the Spanish conquistadors attempts to find the legendary "El Dorado", or "Lost City of Gold" in the 16th century. Twice Ivanhoe stopped our reporters from visiting the mine with delegations from the investment community, saying reporters were not allowed to mingle with bankers on visits to the mine. We don't know why that would be. We mingle with them pretty often in other contexts and usually find each other's company amusing and mutually informative.
from India Insight:
India is globalising, but not the way much of the world wants.
That rather contradictory thought nagged at me one morning during the chaotic Commonwealth Games here in New Delhi.
On the road to the media venue's gate, I trudged past a squatter's family living in a tarpaulin. The mother was helping her son pee on my left. Rubbish, the smelly, sickly kind, lay to my right. My shoes sunk in mud from an unfinished pavement.
from Reuters Investigates:
If the life settlements market seems ghoulish, here’s a British scandal which isn’t doing the image of the business any favours. It’s one of the worst the country’s seen.
Around 30,000 mainly elderly investors in the UK put their money into a company called Keydata, hoping to make a little extra cash to fund their own retirement with the promise of a healthy return.
By Sunanda Creagh
The decision by Indonesia’s reformist Finance Minister Sri Mulyani Indrawati to move to the World Bank must have thrilled those politicians who lobbied hard to dethrone her and derail her anti-corruption drive. But if letters to the editor in the local media are any guide, Indonesia’s ‘wong cilik’ or the little people, as the man on the street is called here — are in mourning.
“It was a black Wednesday in the history of our nation,” read one reader’s letter to the Jakarta Post.
“One of the most honest and qualified people and someone who is known as the hope, finally succumbed to political pressure by the political elite that prefer to remain.”
Many letter-writers have begged her to return in 2014 to run for president, while others have expressed fears that, without her, Indonesia will return to the bad old days of cronyism.
“We didn’t want to see you driven out. Take pity on the people of Indonesia!” one reader, Daslam Al Maliki, wrote on the Indonesian-language news website Tempo Interaktif.
Indrawati, as well as being a widely respected economist, is a notoriously tough cookie who stood up to powerful businessmen and politicians who wanted the rules bent in their favour.
In retaliation, she was made the target of an inquiry into the 2008 decision to bail out the ailing Bank Century.
Chief among her detractors was Golkar, the party of former President Suharto, now headed by business magnate and politician Aburizal Bakrie.
Her departure has also been met with a deafening silence from the country’s business elite. Few among Indonesia’s tycoons seem sad to see the back of a politician who made it her mission to end collusion between powerful businessmen and crooked officials and lawmakers.
Several have paid lip service to her abilities as an economist but no-one — except the distressed letter-writers — appears to be pleading for her to stay.
The yawning gap between the reponses of the public on the one hand and the political and business elite on the other underlines how out of touch those in power are with their constituents.
Last year’s elections were fought over the issue of reform, the fight against corruption, as means to deliver better economic growth and more jobs in a country of high unemployment and underemployment.
A recent poll by the Indonesian Survey Institute found that those parties that pushed hardest to investigate Indrawati and the Bank Century bailout decision have actually lost support.
Political analysts and economists are now wondering if her departure is a sign that President Susilo Bambang Yudhoyono’s commitment to institutional reform is flagging.
“What is wrong with Indonesia? While the top brains are needed to run this country, even the President approves this brain drain,” one reader, ‘Walt’, wrote in the Jakarta Post.
Not all letter-writers are Indrawati fans; several are suspicious she is leaving the country to avoid further questioning over the Bank Century case, an allegation Indrawati has dismissed.
But to many Indonesians, her bruising political battles have turned her into a national heroine while her new job on the international stage will bring prestige to Indonesia
Indrawati herself appears relieved and happy she is moving on to a job that will, hopefully, involve a little less mud-slinging.
“Don’t cry for me, Indonesia. I go for the good of all,” read one headline in the Jakarta Post, a wry reference to Argentinian leader Evita Peron.
from Environment Forum:
At BP’s AGM on Thursday, ethical investors including the Co-Op and Calpers failed in their effort to convince BP to review its biggest planned investment in Canada’s oil sands.
Nonetheless, 9 percent of investors voted in favour of a review -- a much bigger venting of shareholder angst about a single project than oil companies are used to hearing.
Angela Kegler McDowell thought she was doing everything right.
A 38-year-old small business owner, she had bought her own personal health insurance and kept paying her premiums, even as they rose from $293 a month to $804 a month.
The insurance company said it had to raise her premiums when her breast cancer came back and she was forced to undergo expensive chemotherapy.
By Barani Krishnan
A decade ago, Malaysia’s former deputy prime minister Anwar Ibrahim was on trial for sodomy and corruption in a trial that exposed the seamy side of Malaysian justice and the anxieties of a young country grappling with a crushing financial crisis and civil unrest.
Anwar is Malaysia’s best known political figure, courted in the U.S. and Europe and probably the only man who can topple the government that has led this Southeast Asian country for the past 51 years.
Climate health costs: bug-borne ills, killer heat
Tree-munching beetles, malaria-carrying mosquitoes and deer ticks that spread Lyme disease are three living signs that climate change is likely to exact a heavy toll on human health. These pests and others are expanding their ranges in a warming world, which means people who never had to worry about them will have to start.
Moving a 17-metre high monument to Christopher Columbus 100 metres down the road is how the Spanish government is interpreting the advice of John Maynard Keynes. The economist once argued it would be preferable to pay workers to dig holes and fill them in again, rather than allowing them to stand idle and deprive the economy of the multiplier effect of their wages.
For all the shouting and nose-to-nose confrontations, visitors to Havana’s Parque Central might think they had walked into a brawl or counter-revolution … but here in the park’s Hot Corner, the topic almost always under discussion is baseball, Cuba’s national obsession.
At night, Salah Abbas Hisham wakes up screaming. Sometimes, in the dark, he silently attacks the boy next to him in a tiny Baghdad orphanage where 33 boys sleep on cots or on the floor. Salah, who saw both his parents blown apart in a car bomb, can never be left alone at night.