Saturday, July 20, 2013

Russian protest leader Navalny sentenced to five years in jail

KIROV, Russia (Reuters) - A Russian judge sentenced protest leader Alexei Navalny to five years in prison on Thursday after convicting him of large-scale theft in a trial Navalny said was politically motivated.

Navalny, one of President Vladimir Putin's biggest critics, hugged his wife and shook his father's hand before he was led away from court handcuffed to a law enforcement officer.

The sentence was immediately denounced by rights activists and Kremlin critics, many of whom say the trial was part of a clampdown on dissent in Putin's third presidential term. Prosecutors had asked for six years.

Navalny, who emerged from rallies against Putin last year as the opposition's most dynamic leader, was convicted of organizing the theft of timber worth more than 16 million roubles ($494,400) while advising the Kirov governor in 2009.

Judge Sergei Blinov said there was no extenuating circumstances that would warrant keeping Navalny out of prison with a suspended sentence, and that he could not be "corrected" without being isolated from society.

Russian shares fell after the sentence was issued. ($1 = 32.3644 Russian roubles)

(Reporting by Gabriela Baczynska; Writing by Steve Gutterman, Editing by Elizabeth Piper)

Source: http://news.yahoo.com/russian-protest-leader-navalny-found-guilty-theft-052131600.html

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Friday, July 19, 2013

Apple increases chip orders in preparation for new iPad, iPhone release

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U.S. 'deeply disappointed' at Russian opposition leader conviction

WASHINGTON (Reuters) - A White House spokesman said on Thursday the United States is "deeply disappointed and concerned" at the conviction of Russian opposition leader Alexei Navalny and called on Russia to allow an appeal and cease pressure on anti-corruption activists.

"Navalny's harsh prison sentence is the latest example of a disturbing trend aimed at suppressing dissent in civil society in Russia," White House spokesman Jay Carney said at a briefing.

Carney said charges of embezzlement against Navalny were "politically motivated," adding that the case reinforces U.S. concerns about the rule of law in Russia.

"We urge Russia to allow for a fair and impartial appeal of the verdict," Carney said.

Navalny was sentenced on Thursday to five years in jail for theft, an unexpectedly tough punishment. Pyotr Ofitserov, Navalny's co-defendant, was convicted as an accomplice and sentenced to four years in prison.

Navalny gained prominence as an anti-graft blogger and had submitted documents to register as a candidate for the Moscow mayoral election in September. He has also expressed presidential ambitions.

He had been accused of embezzling funds from a state timber company in 2009. He denies any wrongdoing.

Carney's condemnation of Russia's handling of the case comes as the United States hopes to win Russian cooperation in securing the return of former U.S. spy agency contractor Edward Snowden, who revealed details of U.S. government surveillance programs.

U.S. authorities have charged Snowden with theft of government property, unauthorized communication of national defense information and willful communication of classified communications intelligence to an unauthorized person.

Snowden has been stranded at a Moscow airport since June 23. He has filed an application for temporary asylum in Russia, although the 30-year-old American has said he wants eventually to travel to Latin America.

The United States has asked Russia to expel Snowden, but Russia has so far refused to do so. U.S. President Barack Obama and Russian President Vladimir Putin have spoken by phone about the matter as recently as Friday.

In response to questions from journalists, the White House this week has deliberately left vague whether Obama will attend talks in Moscow with Putin ahead of a St. Petersburg summit in September with leaders of the Group of 20 nations.

(Reporting by Mark Felsenth; editing by Jackie Frank)

Source: http://news.yahoo.com/u-deeply-disappointed-russian-opposition-leader-conviction-193045954.html

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Thursday, July 18, 2013

#SciAmBlogs Wednesday - surviving climate catastrophe, HIV vaccine, pipetting Twitter instruction, and more.


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Bora Zivkovic Bora Zivkovic is the Blog Editor at Scientific American, chronobiologist, biology teacher, organizer of ScienceOnline conferences and editor of Open Laboratory anthologies of best science writing on the Web. Follow on Twitter @boraz. Bora Zivkovic Bora Zivkovic is the Blog Editor at Scientific American, chronobiologist, biology teacher, organizer of ScienceOnline conferences and editor of Open Laboratory anthologies of best science writing on the Web. Follow on Twitter @boraz.

#SciAmBlogs Wednesday ? surviving climate catastrophe, HIV vaccine, pipetting Twitter instruction, and more.

Bora Zivkovic About the Author: Bora Zivkovic is the Blog Editor at Scientific American, chronobiologist, biology teacher, organizer of ScienceOnline conferences and editor of Open Laboratory anthologies of best science writing on the Web. Follow on Twitter @boraz.

The views expressed are those of the author and are not necessarily those of Scientific American.

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Source: http://feedproxy.google.com/~r/sciam/health-and-medicine/~3/sOAPeyPPWo0/post.cfm

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International Shipholding Corporation Announces Dates for Second Quarter 2013 Earnings Release and Conference Call

MOBILE, Ala.--(BUSINESS WIRE)--

International Shipholding Corporation (ISH) today announced that it will release its second quarter earnings results following the close of the market on Wednesday, July 31, 2013, and will host a conference call to discuss the results at 10:00 AM ET on Thursday, August 1, 2013.

The conference call will feature members of the Company?s management team, including Niels M. Johnsen, Chairman and Chief Executive Officer, Erik L. Johnsen, President, and Manuel G. Estrada, Chief Financial Officer. To participate in the conference call, please dial (888)-455-2296 (domestic) or (719)-325-2435 (international). Participants can reference the International Shipholding Corporation Second Quarter 2013 Earnings Call or passcode 3208673. Please dial in approximately 5 minutes prior to the call.

The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company?s website, www.intship.com. Please allow extra time prior to the call to visit the Company?s website and download any software that may be needed to listen to the webcast.

A replay of the conference call will be available through August 9, 2013 at (877) 870-5176 (domestic) or (858) 384-5517 (international). The passcode for the replay is 3208673.

About International Shipholding

International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of U.S. and International Flag vessels that provide worldwide and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.

For more information about the company, please visit www.intship.com.

Source: http://news.yahoo.com/international-shipholding-corporation-announces-dates-201500215.html

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Wednesday, July 17, 2013

Local Restaurant Owner Uses Facebook to Track Down Thief

CEDAR RAPIDS, Iowa - It was captured all on camera.

The security footage behind Riley's Cafe on 1st Avenue shows a woman walking through the back door last Friday, taking bags out, and then putting them into her vehicle. Riley's owner Richard Pankey told us on Monday that those bags were filled with around $2,200 worth of new power tools.

But instead of filing a police report, Pankey posted the surveillance pictures to Facebook, offering a cash reward for information on the woman. Pankey told us on Monday, that same woman contacted him with an interesting explanation.

"She called me and said, 'I'm the person you're looking for, and you have to know that I was set up,'" Pankey said.

He said she told him that one of his staff members, a cook, had instructed her to pick up the tools.

"She did the right thing," Pankey added.

As of Monday morning, Pankey had still not gotten the tools back, but he said the next step would be to file an official report with police, and fire the individual responsible.

Source: http://www.kcrg.com/news/local/Local-Restaurant-Owner-Uses-Facebook-to-Track-Down-Thief-215702581.html

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REFILE-Banks check Chinese walls as Hannam appeal reveals cracks

Tue Jul 16, 2013 8:52am EDT

* Banker's appeal shows how easily information can leak

* Makes banks more wary of possible conflicts of interest

* Outcome of appeal key to success of regulatory crackdown

By Kirstin Ridley

LONDON, July 16 (Reuters) - The name of the top London banker fighting to overturn a fine for market abuse is coming up in conversations between lawyers and their clients, who are asking: "Is this a Hannam?".

Extra caution over potential conflicts of interest within corporate broking is what Britain's much criticised financial regulator hoped for when it imposed a 450,000 pound ($667,400)penalty on JPMorgan dealmaker Ian Hannam last year.

Ironically, it is Hannam's appeal to overturn the fine and restore his reputation as a powerful dealmaker that has laid bare the ease with which bankers can casually leak potentially market-moving information and made the industry wary.

If the 57-year-old former special forces soldier succeeds in persuading a tribunal that he did not pass on inside information, banking veterans might breathe a sigh of relief.

But the case, which has been delayed until October, is prompting companies to look closely at their Chinese walls.

A Chinese wall is a set of rules aimed at preventing those with sensitive information, for example a banker working on a company merger, from passing it on to others who could profit from it.

"I think more care is being taken to formalise wall crossing, and not to assume the recipient of the information knows the score," said Rob Moulton at UK law firm Ashurst.

The case against Hannam, whose multi-billion-dollar deals transformed Britain's blue-chip share index, does not question his integrity, but seeks to draw a line in the grey area of what constitutes acceptable business conduct.

It also tests the ability of the three-month-old Financial Conduct Authority (FCA) to rein in lax controls and, where possible, target high profile individuals. The watchdog was spun out of a predecessor blamed for failing to halt risk-taking that helped fuel the financial crisis and misselling scandals.

"I have now had clients ask me: 'Is this a Hannam sort of case?' when considering whether they are allowed to take someone over the wall, and to that extent, the publicity will have helped FCA's broader agenda," Moulton adds.

BE BORING

The Hannam case hinges on two emails he sent in 2008 to Iraqi Kurdistan's oil minister Ashti Hawrami on behalf of a client, Heritage Oil, which the regulator alleges included potential inside information.

Hannam, who quit his job last year to fight the allegations, says the emails were too imprecise, and possibly inaccurate, to constitute insider information.

"I either made it up or was putting a spin on it to get a meeting," Hannam said of one email at the London tribunal earlier this month.

Hannam also argues that Hawrami, a former geologist, was an insider anyway - while conceding that formal insider lists were "not necessarily" kept at early stages of deals.

Financial advisers and law firms are required to keep lists of those who know price-sensitive information. But some lawyers say that in the heat of a deal, such rules are easily breached.

So they are advising clients to be thorough and, when it comes to price-sensitive information, ensure they create records that show who knew what when - and do it "the boring way".

"Whatever the outcome of these proceedings, those engaged in financial dealings ... will wish to consider much more carefully both their duties and obligations under the rule book," said James Carlton of law firm Fox Williams, adding that the Hannam case showed the FCA would no longer tolerate "what many have considered to be a very grey area for many years".

The FCA, armed with fresh powers to hold bankers and institutions to account, is increasingly intrusive and hardline.

It is asking more questions and ramping up demands for skilled persons reports, when companies are forced to pay for FCA-appointed independent experts to spot check or monitor their behaviour - with the added threat of publicity. One lawyer branded these Section 166 orders a "corporate arrest".

The FCA says the market is at last taking notice. Regulatory data on suspicious share price moves ahead of UK mergers and acquisition announcements has been a potential measure of how endemic misconduct such as insider dealing is in London.

That rate, which had doggedly remained at 20 to 30 percent for years, slid to a record low of 14.9 percent in 2012.

Source: http://feeds.reuters.com/~r/reuters/mergersNews/~3/v50fRGsr7qc/story01.htm

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