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Aug 30, 2013

NYT | Global Update August 30, 2013: Obama and Kerry Press Case for U.S. in Syria.

August 30, 2013
Compiled 20:45 GMT

Global Update


Obama and Kerry Press Case for U.S. Action in Syria

President Obama said he was weighing a "limited" attack and Secretary of State John Kerry said there was "clear" evidence that Syria had used poison gas against its citizens.

U.S. Releases Detailed Intelligence on Syrian Chemical Attack

As Secretary of State John Kerry said the Aug. 21 attack killed 1,429 people, nearly a third of them children, the Obama administration received strong support from France for retaliatory measures.

After British Vote, Unusual Isolation for U.S. on Syria

A vote in Parliament on Thursday potentially upset a simple rule of thumb when it comes to international conflict: America does not use force without Britain at its side.

Op-Ed Columnist

The Unsaved World

Why don't we learn from financial crises? As Asian currencies fall and crisis strikes, we seem to be making the same mistakes made in the '90s.

Video: History as a Guide in Syria

Analysts looking for historical parallels to the current situation in Syria say that past military engagements seen as successful have tended to have limited and clear objectives.
News Analysis

With Britain Haunted by Iraq, a Harsh Lesson for Cameron

Prime Minister David Cameron will be weakened at home and abroad after Parliament refused to support his effort for military intervention in Syria.

Obama Set for Limited Strike on Syria as British Vote No

President Obama is ready to pursue a limited military strike even with a rejection of such action by Britain and mounting questions from Congress, officials said.
Military Analysis

Aim of U.S. Attack: Restore a 'Red Line' That Became Blurred

The military strategy that the Obama administration is considering is not linked to its larger diplomatic strategy of persuading President Bashar al-Assad of Syria to yield power.

Forecast Darkens for Indian Economy

Data released Friday by the Indian government showed the economy slowed in the quarter ended in June to the weakest rate since the worst of the global downturn.

JPMorgan Hiring Put China's Elite on an Easy Track

A hiring program intended to weed out nepotism in the bank's China operations instead has led to a federal bribery investigation in the United States, interviews and a government document show.

Zurich Insurance to Investigate Suicide

The company said it would look into whether its chief financial officer was under undue pressure before he apparently killed himself, leading to the resignation of the company's chairman.
Bits Blog

Twitter General Counsel Leaves as Company Prepares to Go Public

Alex MacGillivray, who championed free speech as Twitter's top lawyer, will remain in an advisory role as the company prepares for an anticipated public offering sometime next year.

Googling Yourself Takes on a Whole New Meaning

The latest in high-tech eyewear.
Bits Blog

Facebook to Update Privacy Policy, but Adjusting Settings Is No Easier

Facebook unveiled new privacy policies it plans to put in place next week, but has done nothing to simplify its maze of privacy controls.

Monfils Wins Crowd by Charming It, but Isner Takes the Match by Force

John Isner, seeded 13th, overcame a jocular Gaël Monfils, and calls he considered questionable, to advance in a fourth-set tiebreaker.

Determined Romanian Women Finding Success

Five Romanian women, led by Simona Halep, are ranked in the top 75, overcoming a lack of financial backing with their individual drive.

Survivor of Back Woes Soldiers On

Graham DeLaet had lower back surgery one year after his debut on the PGA Tour, requiring him to miss virtually all of the 2011 season, but he has overcome the physical and mental pain.

New Neighbor's Agenda: White Power Takeover

Residents of Leith, N.D., thought nothing of it when Paul Craig Cobb moved in and began buying property, until they learned of his plan to start a white supremacist colony.

Wildfire Chokes Off Tourist Towns' Livelihood

With the closing of an entrance to Yosemite, tourist traffic - and the business it brings - disappeared on the park's northwest edge.
On Religion

A Church in Chicago Looks to the Farm for Justice

A collaboration between black farmers and the Trinity United Church of Christ has brought fresh produce and considerations of social justice to Saturday mornings.
Op-Ed Contributors

Syria Tests Germany's Culture of Reluctance

Direct participation by the German military in Western military strikes on Syria is not on the table.
Op-Ed Columnist

A Much Less Special Relationship

The notion of following the United States into war has turned toxic in Britain.
Op-Ed Columnist

One Great Big War

Syria's civil conflict portends a chilling prospect of a wholesale Middle East inferno.

SEC Recent Alerts an Bulletins: Investors Alerts and Bulltins | SEC

Investor Alerts and Bulletins

The SEC’s Office of Investor Education and Advocacy provides a variety of services and tools to address problems you may face as an investor. Investor Alerts, focused on recent investment frauds and scams, and Investor Bulletins, focused on topical issues including recent Commission actions, are provided as a service to investors. They are neither legal interpretations nor statements of SEC policy. If you have questions concerning the meaning or application of a particular law or rule, please consult with an attorney who specializes in securities law.

Recent Alerts and Bulletins

Understanding Margin Accounts New (August 2013)
Ponzi Schemes Using Virtual Currencies New (July 2013)
Interest Rate Risk — When Interest Rates Go Up, Prices of Fixed-Rate Bonds Fall New (June 2013)

To more Alerts and Bulletins on 2013 click next:

BLoomberg Business Daily August 31, 2013. Would Martin Luther King Jr. Really Have Hated Obamacare?

Businessweek Daily

Would Martin Luther King Jr. Really Have Hated Obamacare?

Jim DeMint, who is leading the conservative charge to defund the law, suggested as much in a Tweet on the 50th anniversary of the March on Washington. In an interview with Josh Green, DeMint explains why.

Junior Lawyers Love Law Firm Life. Or So They Say

Job satisfaction among midlevel associates hit new highs last year. Why are all those lawyers so happy? The real reason is actually kind of depressing.

In Car Buying, Baby Boomers Surpass the Young

Kids aren't buying, but their parents are. Memo to Kia: Those hamster commercials are aimed at the wrong demographic.

Which Fast-Food Workers Hate Their Jobs the Most?

And speaking of job satisfaction: Amid strikes by fast-food workers across the country, Venessa Wong looked at the chains where the burger-flippers are the most miserable.

Europe's Central Bank Announces Gender Quotas

Quick quiz: Of the ECB's current 23 governing council members, how many are women?

Deals! Deals! Deals!


DealBook P.M. Edition - Week in Review August 30, 2013: A $125 Billion Bet on a Multitrillion-Dollar Market

Friday, August 30, 2013
Week in Review: A $125 Billion Bet on a Multitrillion-Dollar Market Verizon Communications is in talks with Vodafone to buy the British telecommunication giant's 45% stake in Verizon Wireless. The deal, worth at least $125 billion, would be one of the biggest takeovers in history, but the burgeoning wireless industry makes the buyout attractive.

"With 10 billion connections worldwide, the number of cellular subscriptions is on track to outgrow the human population," reports Michael J. de la Merced.
JPMorgan Chase's headquarters in Manhattan. A two-tiered process at the bank that could have prevented questionable hiring practices in China instead fostered them.
JPMorgan Hiring Put China's Elite on an Easy Track A hiring program intended to weed out nepotism in the bank's China operations instead has led to a federal bribery investigation in the United States, interviews and a government document show.
The British telecommunications company Vodafone holds a 45 percent stake in Verizon Wireless.
Verizon in Talks to Buy Vodafone's Stake in Its Wireless Unit Vodafone of Britain could sell its 45 percent stake in Verizon Wireless to Verizon in a deal that analysts say could fetch as much as $125 billion.
Nasdaq had a three-hour trading halt last week.
Shutdown at Nasdaq Is Traced to Software The Nasdaq OMX Group attributed last week's three-hour trading halt to a surge of data that overwhelmed its server.
U.S. Scrutinizes Private Equity Hiring of Ex-Army Officer Government lawyers have asked the private equity firm headed by the prominent financier Lynn Tilton for information related to its recent hiring of a former Army official.
Swiss Agree on Penalties for Banks That Aided Tax Cheats Switzerland and the United States reached a watershed deal to punish Swiss banks that helped wealthy Americans stash money in hidden offshore accounts, ending years of bank secrecy and tax evasion.
Eric Schumacher, right, and other New York Stock Exchange traders gathered in 2007 at the post that handles the Blackstone Group on its first day of trading.
Blackstone Settles I.P.O. Class Action Suit Blackstone has agreed to pay $85 million to settle a lawsuit brought by a group of investors that accused it of misrepresenting some investments ahead of its 2007 initial public offering.
U.S. and Switzerland Are Close to Deal on Penalizing Banks in Tax Case A final settlement would likely require banks to pay a fine to the United States equivalent to 20 percent to 50 percent of the value of their undeclared American accounts, a person briefed on the matter said.
Christine C. Quinn, left, and Joseph J. Lhota, New York mayoral candidates, are the top beneficiaries of hedge fund donations.
In N.Y. Mayoral Race, Small Checks From Hedge Fund Giants New York law caps individual contributions to mayoral candidates, but records for 2013 are notable for their paucity of donations from hedge fund managers.
Merrill Lynch in Big Payout for Bias Case The brokerage firm has agreed to pay $160 million to settle a racial bias lawsuit that wound through the federal courts for eight years, including two appeals to the United States Supreme Court.
The lobby of JPMorgan Chase headquarters in New York. Under the terms of the civil orders, the bank may have to acknowledge internal flaws and dole out at least $80 million in fines.
Regulators Prepare Penalties for JPMorgan Federal regulators are preparing separate enforcement actions and fines against JPMorgan Chase stemming from the way it collected overdue bills from consumers during the recession.
Preet Bharara, the United States attorney in Manhattan,  announced the charges against two derivative traders, Javier Martin-Artajo and Julien Grout, in New York on Aug. 14.
Former JPMorgan Trader Surrenders in Spain in 'London Whale' Case Javier Martin-Artajo was released soon after his arrest on Tuesday morning, beginning what could be a lengthy extradition process over charges that he hid billions in trading losses.
Deal Professor: A Simple Solution on C.E.O. Pay Is Not So Simple The Dodd-Frank Wall Street Reform and Consumer Financial Protection Act required companies to compare their chief executive pay with that of their employees, but carrying it out may cost millions, says Steven M. Davidoff.
A clock at Direct Edge's offices in Jersey City ticks down to the opening of financial markets.
BATS and Direct Edge to Merge, Taking On Older Rivals Combining BATS Global Markets and Direct Edge will vault the new company past Nasdaq to become the second-largest exchange operator in the United States, as the industry continues to face pressure to consolidate.
King & Spalding is handling arbitration in the legal feud between Chevron and Ecuador over environmental damage in the Amazon.
Growth in Global Disputes Brings Big Paychecks for Law Firms Some legal heavyweights in the United States are benefiting from a growing number of clashes over complex international deals.
Henry M. Paulson Jr., right, on the Treasury steps in 2008 with President George W. Bush.
DealBook Column: Five Years After TARP, Misgivings on Bonuses Henry M. Paulson Jr. tells Andrew Ross Sorkin: "There was such a total lack of awareness from the firms that paid big bonuses during this extraordinary time."
William A. Ackman is the chief executive of Pershing Square Capital Management.
His Links Severed, Ackman Sells Stake in J.C. Penney William A. Ackman sold his roughly 18 percent stake in J.C. Penney at $12.90 a share on Monday, severing all ties to the retailer two weeks after he resigned from the board. At that price, he is saddled with a loss of about $473 million.
Third Point Hedge Fund Increases Sotheby's Stake Daniel S. Loeb's hedge fund, Third Point, is now one of Sotheby's biggest shareholders, with a 5.7 percent stake, according to a filing with the Securities and Exchange Commission.
The owner of Eddie's Shoe Repair says the Wall Street banks skimp on shoeshine services.
Shoeshines Keep Wall Street in the Black (or Maybe Brown) In-house shoeshine service has proved resilient, surviving the rise of technology and even the 2008 financial crisis, which snuffed out many of Wall Street's quirks.
Amgen Buys Producer of Drugs for Cancer Amgen has huge sales of drugs that help patients cope with chemotherapy and counter some of the effects of cancer, but it has long wanted drugs that directly attack the tumors themselves. In buying Onyx, it acquires some.
La Familia Pawn and Jewelry in Orlando, Fla., began offering bill-paying services this summer.
Platinum Card and Text Alert, via Pawnshop As banks zero in on more affluent customers and close branches in poor areas, pawnshops are stepping into the void to offer an array of services.
Onyx's oldest drug is Nexavar, which is approved to treat liver and kidney cancers.
Amgen Said to Be Near Deal to Buy Onyx for $10.5 Billion The biotech giant Amgen is near a deal to buy Onyx Pharmaceuticals, a maker of cancer-fighting drugs, for about $125 a share, people briefed on the matter said on Saturday.
Ex-Goldman Trader Fined $500,000 A former Goldman Sachs trader who pleaded guilty in a criminal case earlier this year to fabricating huge positions to protect his bonus agreed on Friday to pay a $500,000 fine in a related civil matter.
News Analysis: Tax Haven Closes for Wealthy Americans A tax deal reached between Switzerland and the United States on Thursday effectively puts an end to the status of the small Alpine country as a tax haven for wealthy Americans.
Deal Professor: A Lesson for Boardroom Battles A proxy battle involving an Israeli company listed in the United States could serve as a lesson for how the proxy access rule could be used as a weapon in boardroom battles, says Steven M. Davidoff.
Verizon-Vodafone Deal Would Be a Big Payday for Deal Makers Should Verizon Communications successfully buy out Vodafone's 45 percent stake in Verizon Wireless - analysts suggest that the transaction would be valued at more than $125 billion - it would consummate one of the largest takeovers on record.
China Brokerage Firm Fined $85 Million Over 'Fat-Finger' Trades The Chinese securities regulator said the firm's actions caused a 6 percent spike in the Shanghai share index.
America Movil Threatens to Pull Bid for Dutch Cellphone Operator The Latin American telecommunications giant has threatened to walk away from its proposed 7.2 billion euro, or $9.5 billion, bid for the Dutch cellphone operator KPN after a local foundation moved to block the takeover.
Buzz Tracker
Not Crying for Argentina but Fearful of a Ruling In the High & Low Finance column, Floyd Norris examines why the United States Treasury and the International Monetary Fund are concerned about an appeals court decision that would force Argentina to pay all its creditors equally and hold processing banks responsible if the country did not.
Week in Verse
'Call Me' Al Green has been singing about the importance of the telecommunications for years.