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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Dark web drug site hit by hacker

Category : World News

A mysterious hacking attack knocked notorious ‘underground’ website famed for illegal activity offline for two days.

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New Jersey Dentist on Sleep Apnea Awareness to Help Prevent More Serious Health Problems

Category : Stocks

Dr. David Schor Treats Sleep Apnea for His Lawrenceville Dentistry Patients to Reduce Fatigue and Irritability While Also Reducing the Chance of Heart Attack and Diabetes

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New Jersey Dentist on Sleep Apnea Awareness to Help Prevent More Serious Health Problems

Category : Stocks, World News

Dr. David Schor Treats Sleep Apnea for His Lawrenceville Dentistry Patients to Reduce Fatigue and Irritability While Also Reducing the Chance of Heart Attack and Diabetes

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Stocks may be up, but fear is back in the market

Category : Stocks

Opinion: The terror attack in Boston is a sad reminder that the world is a scary place … and that stocks may need to pull back further,

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World markets slump after terror attack

Category : Stocks

World markets fell Tuesday as investors considered weaker than expected economic growth in China and the implications of a terrorist attack in Boston.

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Korea is the focus, but this is China versus Japan | Timothy Mo

Category : Business

Beijing has absolute control over North Korea. The crisis is all about disputed islands and the security of oil supplies

The “crisis” on the 38th parallel has little to do with the two Koreas: it’s about oil and gas for China, the prelude to an energy grab that will safeguard the expansion of the Chinese economy for decades to come. Six months ago Taiwanese and Japanese coastguard cutters were drenching each other in spray from water cannon, in footage now forgotten. The present pantomime, with hisses greeting North Korea as the villain, is not a replacement of the fountain show but its encore.

The Senkaku islands, if you’re Japanese – Diaoyu if you’re Chinese – halfway between the two countries, and the fossil resources that underlie them, are the issue of contention, not the integrity of the Korean border. In the twilight of oil, long-term energy security is at the top of all great powers’ agendas, but it has a highly personal dimension for those in power in China today. Two hundred dollars for a barrel of oil and 15% unemployment will lose a presidential election in America. In China, it could lose you your life, or at least, for sure, all its luxurious trappings. Continued growth and rising standards of living – with the oil to guarantee it – are vital to protect the family positions of the unpopular hereditary elite who run the country today.

In order to have their subjects acquiesce to their rule, the princelings need to keep the economy booming and the good times rolling, not just for China’s nouveau riche but for the emergent middle-classes and the migrant factory workers from the sticks who are bottom of the heap. It was possible to shoot university students and the residents of the capital in 1989. Unrest in the provinces to which laid-off factory workers would have to return would be a more serious matter altogether.

The notion of North Korea having any autonomy in its external dealings and, as a prodigal son, somehow going further than China would want is more than ridiculous. The reprimands and tut-tuttings from China go further than that – they are a preposterous farce. North Korea is China’s attack dog. The leash is the weapons, the food and the fuel that go over the border. China has had absolute control over the North since the day its troops turned the tide of war by launching infantry attacks against UN forces in November 1950.

China has the capacity to install whoever it wishes in Pyongyang. The savage attack dog of the North has very large fangs in the shape of its million-plus land army. It can bark, show its teeth, even snap at the heels of its owner, but in the end both know who is master. North Korea is not even a client regime of Beijing, but a special autonomous region, with nuclear weapons and concentration camps rather than skyscrapers and the rule of law.

Nevertheless, if the mobilisations and sabre-rattling are taking place within a tea cup, the storm is brewing not in a dainty Chinese thimble cup but a hefty mug. North Korea has done some terrible things, now largely forgotten. Young Kim Jong-un is going to have a hard time living down to them. The bombing of Korean Air Flight 858 in 1987 palled next to the earlier bomb attack in 1983 on the South Korean cabinet in Rangoon, Burma. Three South Korean cabinet ministers died, including the much-loved foreign minister, who rejoiced in the name Lee Bum Suk (He used to introduce himself, “Ladies and gentlemen, I am the South Korean foreign minister and my name is Lee Bum Suk. Now please laugh.”) He knew humour was anathema to the pretensions of dictators.

The problem is not with the leadership in the North – ultimately rational, prioritising self-preservation and aggrandisement – but with the minions in a military that is now factionalised as never before. Brainwashing is a word that dates from the Korean war. The population of the North is not just docile but stupefied with terror. The crew of a North Korean submarine that ran aground in Southern waters in 1996 executed 11 of its own members for incompetence (read, fear for themselves and their own families) before making a run for the demilitarised zone, but only two survived. It is perfectly possible for someone so lobotomised by the cult of personality to push a button that was never meant to be pushed.

North Korea naturally has some kind of agenda independent of China. Ratcheting up a situation such as today’s consolidates the hold over the army of the young leader, Kim Jong-un. Like the frog that puffed itself up, it also makes him look larger on the world stage. The desire for a personal telephone call from Barack Obama would be puerile if the potential fallout – literal and figurative – were not so deadly. This grandson of Kim Il-sung also finds himself facing, in the new South Korean leader, the daughter of Park Chung-hee, the cold warrior and assassinated military dictator of the South between 1961 and 1979. (The head of his own secret service did him in.) Family business is being settled, with Kim Jong-un desiring to show himself as intransigent as his father and grandfather. Finally, Kim believes that a certain amount of obstreperousness will, as in the past, ease sanctions and bring a resumption of aid.

The majority of South Koreans are still relatively blase. Not so in Japan, where the public is genuinely edgy. They have had three nuclear disasters already: two in war, one in peacetime. They did not fight in the Korean war, but Japanese civilians were abducted from their streets and homes by North Korean kidnappers and held in Korea for decades. Kim is a real bogeyman in Japan.

Yet he needs to be careful he does not get a chopstick straight through the heart. To perceive Japan as something of a diplomatic and military soft touch would be a catastrophic error. The Japanese self-defence force and, in particular, the navy and coastguard – whose ratings, in full anti-flash gear, did not hesitate to sink a North Korean spyship with gunfire in 2001 – constitute a formidable obstacle. Japan has amassed enough plutonium to make as many bombs as China. The Japanese public genuinely abhors nuclear weapons, and, under the constitution, these are explicitly banned from Japanese shores. Nevertheless, if Japan does not already possess an arsenal of hydrogen bombs, they can be put together very rapidly.

Barring misadventure – always possible when delinquent children play with firecrackers – a real shooting war is out of the question. Basically, what we have now is very heated bargaining in an Asian mall selling pirated goods. Japan wants as large a share of the Diaoyu oil as possible; China wants to concede as little as possible. In the end, Japan will be prepared to play second fiddle to China, as it has done to the United States for half a century, while the Americans will be bought off with lucrative contracts for service companies such as Halliburton.

As for the deposits in the South China Sea, America has a very poor record of loyalty to its defeated allies. The Philippines, Taiwan and Malaysia can expect to be sold out if China takes the fields by brute force. The so-called pivot to the Pacific cannot work: this is China’s backyard. It’s as forlorn as it would be for a Chinese armada to steam to the Gulf of Mexico to secure its oil wells or to land in the Cayman islands.

The real drama is going to be an Israeli attack on Iran – 100 times more likely than the curtain rising in Korea. The implication is that the more conciliatory and moderate the west is over the shadow puppet-show and dress rehearsal playing out in the Orient, the more it can justify extreme measures against Iran. This is what we should be concerned about.

Reserve Bank of Australia hacked

Category : Business

Virus infiltrated computers and sought information on G20 negotiations, central bank reveals under freedom of information

Australia’s central bank has been targeted by hackers seeking sensitive information that included Group of 20 negotiations.

The Reserve Bank of Australia (RBA) would not comment on a media report that the computer virus used in the attack was Chinese in origin.

Hacking attacks on governments and corporations have become routine, with suspicion falling on China as the source of much of the activity. Beijing has repeatedly denied accusations it is behind the attacks, saying it too is a victim of hacking, particularly from the United States.

Documents released under freedom of information showed the RBA was the subject of a malicious email attack on 16-17 November 2011 using a virus that was undetectable by the bank’s security software.

An email titled Strategic Planning FY2012 was sent to several RBA staff up to department heads and was opened by six of them, potentially compromising their workstations. The email purported to come from a senior staff member at the bank and originated from a “possibly legitimate” external account.

The emails contained a compressed Zip file with an executable malware application, though the bank would not identify the virus used.

All of the six workstations affected did not have local administrator rights, so the virus could not spread. The computers involved were deemed compromised and removed from the network on 17 November 2011.

“The email had managed to bypass the existing security controls in place for malicious emails by being well written, targeted to specific bank staff and utilised an embedded hyperlink to the virus payload which differs from the usual attack whereby the virus is attached directly to the email,” according the RBA’s report of the incident.

“Bank assets could have been potentially compromised, leading to service disruption, information loss and reputation.”

The RBA took the issue up with the providers of its antivirus software to update its defences, including scanning for hyperlinks in emails and automatically blocking them.

As well as attempted hacking the RBA documents list a range of potentially embarrassing incidents from lost laptops and BlackBerries to sensitive documents emailed out by mistake. In one incident a folder containing confidential information was left on the rear of an office car by a distracted staff member.

A passing motorist noticed the papers scattered across the road. After a hour of searching most of the papers were recovered, though some apparently went down a stormwater drain, “resulting in moderate reputational risk to the bank”.

Four policemen butchered as Kenyans queue in tense vote – Reuters

Category : Stocks


The Hindu
Four policemen butchered as Kenyans queue in tense vote
Reuters
By Edmund Blair and Joseph Akwiri. NAIROBI/MOMBASA, Kenya | Mon Mar 4, 2013 1:37am EST. NAIROBI/MOMBASA, Kenya (Reuters) – Kenyans stood patiently in long lines on Monday to elect a new president but machete-wielding youths on the coast
Violent Start to Kenya Vote: Police Die in AttackABC News
Wary but optimistic Kenyans vote for presidentCNN International
Polls open in Kenya elections after gun attacksHindustan Times
Times of India

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Regulator raps Big Four accountants

Category : Business

Britain’s four biggest accountancy firms have come under attack from the Competition Commission for being too dominant.

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Google sues BT in patent battle

Category : World News

Google sues BT in the US and UK as a counter-attack to the British firm’s existing lawsuits against the search giant.

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