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Source: http://www.thestrut.com/2012/01/03/secret-morrissey-image-found-in-google-earth/
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Measuring countries' debt to GDP and why governments, such as Germany, is allowing massive de-leveraging, with Sean Egan, Egan-Jones Ratings Company founding principal/president & managing director.
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Source: http://video.msnbc.msn.com/cnbc/45855364/
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BUENOS AIRES, Argentina ? The ruling party governor of Argentina's Rio Negro province, Carlos Soria, was quickly buried in a private ceremony after authorities determined that he died of a single bullet wound to his head, fired from his own handgun in the bedroom of his home after an argument with his wife.
"We know that there was a family argument," prosecutor Miguel Angel Fernandez Jahde told reporters on Monday.
The governor's wife, Susana Freydoz, remains sedated in a relative's home, and has yet to make a formal declaration about what happened in their bedroom early on New Year's Day, said the judge overseeing the case, Juan Pablo Chirinos. "There were only two people in the room, so the only suspect is her," the judge said.
Police tested Freydoz for evidence that she fired the gun, but she was not detained. She also underwent a medical examination. Chirinos said he has yet to see the results.
Soria was buried Sunday night as about 1,500 people marched in his honor in the provincial town of General Roca, where he had served as mayor for eight years before swearing in as governor on Dec. 10.
An official description of Soria's death released the courts late Sunday left many questions unanswered.
"Dr. Carlos Soria was the victim of a single gunshot, to the head, from which he died a few minutes later," duty Judge Emilio Stadler wrote. "At this point, there is no evidence, nor even a suggestion, indicating that someone else may have been involved."
Soria led the province's Peronist Justicialist Party and won election by a wide margin in October, displacing the Radical Party that had long controlled the province. Soria will be succeeded by his vice-governor, Alberto Weretilneck, who was described Monday in local media as closer to President Cristina Fernandez and her ruling Front for Victory.
Soria came up through the more conservative wing of the Peronist Party, allying himself with former presidents Carlos Menem and Eduardo Duhalde. He was photographed sharing a friendly meal with Nazi war criminal Erich Priebke, who lived openly in the Rio Negro city of Bariloche for 50 years before being extradited and tried in Italy. While serving as Duhalde's intelligence service chief, he was accused by Fernandez of spying on her husband Nestor Kirchner.
Soria's son Martin, who replaced him as mayor of General Roca, made no immediate statement about his father's death. The couple also had three other children: German, Carlos and Emilia. Emilia and her boyfriend also spent the night in the Soria family home, and also were examined for gunshot residue. Emilia Soria has the right to decline to testify under Argentine law, given her close relationship with both parents, the judge said.
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Michael Warren can be reached at http://www.twitter.com/mwarrenap
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CARACAS, Venezuela (AP) ? An international arbitration body has awarded Exxon Mobil Corp. nearly $908 million in a dispute with Venezuela over compensation for the nationalization of its assets, the company said Sunday.
Exxon Mobil sought arbitration after President Hugo Chavez's government nationalized an oil project in the country in 2007.
The decision by the International Chamber of Commerce confirmed that state oil company Petroleos de Venezuela SA "does have a contractual liability to Exxon Mobil," company spokesman Patrick McGinn said in an email. He said the award is for $907,588,000.
Venezuelan government officials did not respond to messages on Sunday seeking comment.
"The dispute is not over Venezuela's power to expropriate assets, but rather the failure of PDVSA to comply with contractual provisions to compensate Exxon Mobil," McGinn said.
The Irving, Texas-based oil company has not publicly released figures on how much it was seeking in compensation. McGinn said the company received the decision on Friday and was still reviewing its more than 400 pages.
According to the ICC's arbitration rules, decisions are binding.
Exxon Mobil still has another arbitration case pending against Venezuela before the World Bank-affiliated International Centre for Settlement of Investment Disputes, or ICSID. More than a dozen other arbitration cases involving Venezuela are also pending as companies have sought billions of dollars in compensation in response to nationalizations by Chavez's leftist government.
The Caracas-based consulting firm Ecoanalitica estimated recently, before the latest Exxon Mobil decision, that the bulk of the government's nationalizations involved more than $33.7 billion in assets, including about $23 billion in outstanding obligations.
Venezuela has reached negotiated settlements on payments to some other companies.
Last month, Mexican cement company Cemex SAB said Venezuela agreed to pay $600 million for the 2008 takeover of the company's operations in the country.
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BEIJING |
BEIJING (Reuters) - China's central bank governor argued in comments published on Saturday that Beijing does not control the yuan's flow across borders as tightly as some think and that it is natural for the currency's trading band to be widened over time.
Zhou Xiaochuan said in an interview with Chinese magazine Caixin that China did not fare badly on an International Monetary Fund measure of currencies' convertibility under the capital account.
But he stopped short of calling for a fully convertible currency.
"If the highest standard of measurement is to have wholly unrestricted convertibility, then so many developed countries have not achieved 100 percent full convertibility," Zhou told the magazine.
Investors increasingly expect that China will give them more freedom to trade the tightly controlled yuan.
While the currency is already convertible under China's current account, the broadest measure of trade in goods and services, the capital account, which measures inflows and outflows of different types of capital, is still closely managed by Beijing as it worries about capital flight and hot money inflows.
Countries with convertible currencies under their capital account let their currencies trade with few restrictions for investment purposes.
Zhou noted China must regulate levels of foreign debt incurred by private and public sectors to reduce currency risks, monitor cross-border deals to guard against illegal activities such as money laundering, and combat speculative capital flows.
"Excluding the above three factors and judging from the 40 sub-items set by the IMF, you may find that actually China is not that far from capital account convertibility," Zhou said.
Still, he said Beijing would keep improving the exchange rate regime to make it more flexible, adding it is natural for the currency to fluctuate in a bigger trading band in future.
"The yuan's trading band will be widened," he said.
China currently lets the yuan trade in a 0.5 percent range, and moves to increase that band would show Beijing is gradually relaxing its control over the currency.
"Compared with international markets, you may know that the 0.5 percent (daily trading band) is quite a small floating band," Zhou said.
INFLATION CONCERNS WANING
Investors had speculated earlier this year when China was fighting three-year high inflation that Beijing would widen the yuan's trading band to accelerate its rise and combat price pressures.
Instead, Beijing raised interest rates three times, moves that have produced some tentative success: Inflation eased to 4.2 percent in November, down from a 6.5 percent high in July.
Zhou acknowledged that price pressures are easing and that the job of fighting inflation is not as urgent as before. But he warned against complacency.
"Inflationary pressure is easing, and curbing inflation is not as urgent as in 2011," he said. "But we should not lower our guard against inflation and must appropriately manage inflation expectations."
He said that it is difficult for China to achieve the government's annual inflation ceiling of 4 percent this year and he expects inflation to be around 5 percent this year.
"China has been always having relatively big scope to adjust its monetary policy," Zhou said when asked whether a drop in China's foreign exchange purchases in recent months has given the central bank more room to adjust monetary policy.
President Hu Jintao in his televised New Year's address on Saturday, said the government would continue to maintain relatively fast economic growth and manage inflationary expectations in the year ahead.
But he also warned that "uncertainty about the global economic recovery is on the rise."
The yuan closed at a record high against the dollar on Friday, passing through resistance at 6.30 and ending 2011 with an appreciation of 4.7 percent, with traders citing signs of central bank intervention to push the yuan up at the end of the year.
The yuan's gains for the year are in line with the 4 to 5 percent traders in the onshore market had expected at the start of the year.
Traders still see the yuan appreciating in 2012 as China faces U.S. pressure to do more to rebalance bilateral and world trade, while it continues to record trade surpluses.
(Additional reporting by Ben Blanchard and Fang Yan; Editing by Edward Lane and Hugh Lawson)
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A slew of psychology studies, some dating as far back as the 1920s, suggest that if you want to stick to your New Year?s diet ? or whatever your big 2012 goal may be ? you might want to shut up about it, already.
Source: http://www.msnbc.msn.com/id/3036697/vp/45829006#45829006
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