Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/306015890?client_source=feed&format=rss
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Friday, May 17, 2013
Vatican Bank to publish yearly report, launch website
By Philip Pullella
VATICAN CITY (Reuters) - The Vatican Bank, a center of scandals for decades, is to launch its own website and publish its annual report in an effort to increase transparency, its new president said.
Ernst von Freyberg told the bank's employees of the changes, which should be in place by the end of the year, this week, according to Vatican Radio.
He also said the bank, formally known as the Institute for Works of Religion (IOR) and dubbed the world's most secretive bank by Forbes magazine, had also hired an auditing firm to make sure it meets international standards against money laundering.
Vatican Radio did not name of the firm.
Freyberg was appointed in February to take the place of Ettore Gotti Tedeschi who was fired last May.
Gotti Tedeschi said he was dismissed because he wanted more transparency but the board, made up of international financial experts, said he had neglected basic management responsibilities and alienated staff.
His abrupt departure, along with the arrest of Pope Benedict's butler for stealing confidential papal documents, came during a leaks scandal that shook the Vatican last year and contributed to Benedict's decision to resign.
The Vatican has been trying to shed its image as a murky financial center since 1982, when Roberto Calvi, known as "God's Banker" because of his links to the Vatican, was found hanging from London's Blackfriars Bridge.
Calvi was head of the Banco Ambrosiano, then Italy's largest private bank, which collapsed in a fraudulent bankruptcy. The Vatican bank owned part of the Ambrosiano.
In July, a European anti-money laundering committee said the Vatican Bank failed to meet all its standards on fighting money laundering, tax evasion and other financial crimes.
The report by Moneyval, a monitoring group of the 47-nation Council of Europe, found the Vatican had passed only nine of 16 "key and core" aspects of its financial dealings.
The Vatican has vowed to make changes to meet the standards, and will present a progress report on the Moneyval recommendations at the end of the year, a Vatican official said.
The bank itself will be audited by the Vatican's internal regulator, its Financial Information Authority, or FIA, the official said.
Earlier this month, in another move towards transparency, the Vatican's FIA signed a memo of understanding with FinCen, the U.S. agency that tracks suspicious financial transactions.
In 2010, Rome magistrates froze 23 million euros ($33 million) held by the IOR in an Italian bank.
The Vatican said at the time that its bank was merely transferring its own funds between its own accounts in Italy and Germany. The money was released in June 2011 but the investigation continues.
Pope Francis, who was elected in March to succeed Benedict, could enact a major restructuring of the bank or even eventually decide to close it, Vatican sources have said. But the prospect of total closure is remote.
The bank primarily handles funds for Vatican departments, Roman Catholic charities and orders of priests and nuns around the world.
(Editing by Louise Ireland)
Source: http://news.yahoo.com/vatican-bank-publish-yearly-report-launch-website-124228513.html
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Mom chases child abductor and crashes his car; girl safe
May 15 (Reuters) - Post positions for the 138th running of the Preakness Stakes, to be run at Pimlico on Saturday (Post Position, Horse, Jockey, Trainer, Odds) 1. Orb, Joel Rosario, Shug McGaughey, even 2. Goldencents, Kevin Krigger, Doug O'Neill, 8-1 3. Titletown Five, Julien Leparoux, D. Wayne Lukas, 30-1 4. Departing, Brian Hernandez, Al Stall, 6-1 5. Mylute, Rosie Napravnik, Tom Amoss, 5-1 6. Oxbow, Gary Stevens, D. Wayne Lukas, 15-1 7. Will Take Charge, Mike Smith, D. Wayne Lukas, 12-1 8. Govenor Charlie, Martin Garcia, Bob Baffert, 12-1 9. ...
Source: http://news.yahoo.com/mom-nm-chases-down-child-abductor-girl-safe-145205271.html
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Thursday, May 16, 2013
Bayer starts Phase III trial on regorafenib in liver cancer
* Schaaf associated with Werder for 40 years * Led club to 2004 German double (Updates with quotes, details) BERLIN, May 15 (Reuters) - Werder Bremen parted ways with coach Thomas Schaaf after 14 years in charge on Wednesday, bringing an end to a relationship spanning four decades. Schaff, who was the longest-serving active coach in the league, would not be in charge for the last game of the season against Nuremberg on Saturday, the club said in a statement. ...
Source: http://news.yahoo.com/bayer-starts-phase-iii-trial-regorafenib-liver-cancer-065314672.html
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Aquos Pad SH-08E flaunts 7-inch high-res IGZO display, 1.7GHz quad-core processor
Amid the bevy of phones outed in NTT DoCoMo's summer lineup, the Japanese carrier snuck in a tablet: Sharp's Aquos Pad SH-08E. A 7-inch 1,920 x 1,200 IGZO display dominates the front of the Android 4.2 device, while a 1.7GHz quad-core Snapdragon 600 processor and a 4,200mAh battery are tucked inside. When it comes to imaging, the slab totes an 8.1-megapixel shooter on its rear, and wears a 2.1-megapixel cam on the front. The hardware's also been kitted out with WiFi, NFC and TV tuning capabilities, along with waterproofing and dustproofing, to boot. As the slate's outfitted to work with DoCoMo's Xi LTE network, it's capable of sucking down 100Mbps and uploading at 37.5Mbps. There's no word on how much it'll empty wallets, but it's penciled in to be available in Japan by the end of July.
Filed under: Cellphones, Mobile
Source: NTT DoCoMo (PDF)
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/u8sGikUxTiQ/
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Wednesday, May 15, 2013
IRS began targeting political groups in 2010
>>> good evening. in plain english the irs isn't popular to begin with. they go after our money and collect our taxes. when it looks like they are going after certain people, when the irs is used as a political tool because of the politics of groups or individuals, that isn't fair or legal. and that's the issue currently enveloping the irs . the president today talked about the allegation that certain groups, especially those tied to the tea party might have received special scrutiny because of their politics. it's just one front the white house is dealing with. it's where we begin here tonight with nbc's lisa myers in our d.c. newsroom. lee is is a, good evening.
>> reporter: brian, good evening to you. a draft report obtained by nbc news shows the targeting of conservative groups for special scrutiny began earlier than the irs has admitted and suggested a senior irs official was told what was going on almost two years ago. today the president joined the chorus of bipartisan outrage.
>> i've got no patience with it. i will not tolerate it. we'll make sure we find out exactly what happened on this.
>> reporter: a timeline in the draft report by an inspector genre veals in march 2010 career employees at an irs unit based in cincinnati that oversees tax exempt groups began scrutinizing applications with the words tea party and patriots. in january 2011 targeting included groups concerned about government spending , debt and those who criticized how the country is being run. that august a senior irs official, the chief counsel, is briefed so everyone would have the latest information. as the presidential campaign heated up in january 2012 , the criteria was revised to cover all groups involved in limiting or expanding government or educating on the constitution. about then tea party groups complained publically about being treated unfairly by the irs . and the irs stopped letters requesting more information. in march, the irs commissioner assured congress the complaintscomplaints were unfounded.
>> there is absolutely no targeting. this is the kind of back and forth that happens when people apply for 501-c-4 status.
>> reporter: not until last week did the irs admit certain groups were targeted. in all 300 applications were singled out for further scrutiny. how could this happen? a former irs official.
>> safeguards were removed that would have greatly reduced the possibility of this sort of situation.
>> reporter: republicans say congress must do its own investigation.
>> it's hard for me to believe that this is an idea that was hatched by just a couple of career employees of the irs .
>> reporter: now the irs still isn't saying whether anyone has been fired or why it waited so long to come clean. a senior republican sayses the agency was, at best, far from forthcoming and, at worst, deliberately dishonest with congress. brian?
>> thanks. lisa myers starting us off in d.c.
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As NASDAQ rallies, smartphone sector has been a crushing disappointment
Over the last 12 months, the NASDAQ has moved up by 17%, a respectable performance. However, most of the best-known hedge funds in the world continue lagging both NASDAQ and the broader S&P index woefully. The smartest investors in the world are having trouble matching index funds in both 2012 and 2013. Probably the biggest reason for this is the way smartphone-related stocks have underperformed. This was something that was extremely difficult to predict in early 2012. Not only has Apple tanked over the past year but other hedge fund darlings have also lagged behind NASDAQ: Omnivision, the camera module champion, is down 16% in a year and Qualcomm, the key phone chip vendor, is up by only 4%.
[More from BGR: No Home for Facebook at AT&T: HTC First to be discontinued]
The smartphone market has put in torrid volume sales growth as unit growth in Q1 2013 topped 40% again. Mobile app usage has beat all estimates and an average American iPhone owner now spends 2 hours a day on mobile apps. LTE growth has been strong and the number of consumers switching to 4G phones is growing robustly every month. So on the surface, the smartphone industry is cruising along smoothly.
[More from BGR: Another reason for Facebook Home?s rough start: The team behind it didn?t fully understand Android]
But what even the savviest investors in the world did not realize a year ago was that even robust volume growth and strongly increasing consumer interest in mobile content cannot guarantee stable profit growth in the smartphone world. Apple?s margins are coming down rapidly, pressured by the cheap tablet competition and Samsung?s formidable high-end smartphone roster. Tablet demand is shifting towards 7-inch models and smartphone demand is shifting towards China and India from the lucrative North American market.
In 2013, Qualcomm now estimates that China-India demand for 3G devices will be than?41 million units higher than demand in the United States. As recently as in 2012, the U.S. demand for 3G devices was 35 million units above China/India. This flip has profound implications for the smartphone industry because the hot growth segment in India right now is the sub-$100 category of smartphones.
Smartphone and tablet volume growth is no longer driven by affluent hipsters in Red Hook and Russian Hill but is instead coming from Guangzhou and Hyderabad. Markets have started suspecting that this is a game where high-tech champions like Apple and Qualcomm will have to give up fat profit margins to stay ahead. Is this an overreaction? That is perhaps the most important question in the tech stock universe for the next 24 months.
This article was originally published on BGR.com
Source: http://news.yahoo.com/nasdaq-rallies-smartphone-sector-crushing-disappointment-162047178.html
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