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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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Supreme court blocks Nigerian activists from suing Shell over alleged torture

Category : Business

Nigerians had hoped to use US Alien Tort Statute to sue Royal Dutch Petroleum over the deaths of nine protesters in the 1990s

The supreme court has blocked a group of Nigerians from suing the oil giant Shell in US court for allegedly aiding in torture and murder in a ruling that human rights experts warned could limit the ability to bring such cases in the US.

In a unanimous ruling, the justices stopped a case filed by Nigerian activists now living in the US who allege that in the 1990s Royal Dutch Petroleum was complicit in the the torture and murder of protesters at the company’s Shell Oil operations in the Ogoni region.

The unanimous decision affirmed a lower court ruling that the Alien Tort Statute (ATS), written in 1789, cannot be used to sue foreign entities for alleged violations of international law on foreign soil. “Nothing in the ATS’s text evinces a clear indication of extraterritorial reach,” the court found.

Esther Kiobel, the lead plaintiff in the case, is the wife of the late Dr Barinem Kiobel, one of a group of Nigerian environmental activists known as the Ogoni Nine, who protested against the devastating impact of Shell’s operations in the Niger Delta. In 1995 the Ogoni Nine were tortured and hanged by the Nigerian military junta.

The Center for Constitutional Rights (CCR) said it was “deeply troubled by the supreme court’s decision to undercut 30 years of jurisprudence to limit US courts’ ability to hear cases on human rights violations committed outside the United States”.

“The US with this case is withdrawing from the world from the path that international law has taken,” said Peter Weiss, vice-president of the CCR, said. He said it was “in the national interest” for the US to promote human rights around the world.

Peter Rees, Shell’s legal director, said: “In our view, the court has reached the right decision. Shell remains firmly committed to supporting fundamental human rights in line with the legitimate role of business, and I want to make clear that we deny, in the strongest possible terms, the allegations made by the plaintiffs in this tragic case. Today’s decision doesn’t weaken the human rights of people around the world; it makes it clear that the Alien Tort Statute does not provide a means for claims to be brought in the US which have nothing to do with the US.

“But we’ve always maintained this case has nothing to do with the United States. The Alien Tort Statute is an 18th Century law designed for an entirely different purpose and certainly not for application where there is no connection with the United States. We appreciate the opportunity to have been heard in this case, and we are pleased that the court has now clarified this area of the law.”

The US Chamber of Commerce praised the decision. “The US supreme court’s decision today ensures that trial lawyers cannot continue to use the American judicial system to expose global businesses to frivolous and costly lawsuits,” said president Thomas Donohue. “Today’s decision helps to ensure that America will continue to be an attractive place to do business and removes barriers for companies looking to do business throughout the world.”

The ATS has been a popular vehicle for human rights cases since 1980 when Joelito Filártiga, son of a Paraguayan opposition figure who was tortured and killed by Paraguayan police, sued his father’s torturer in the US courts. Filártiga was denied justice at home but sued in the US when he learned his father’s torturer was living in New York. A US court held that torturers, like pirates, had become “hostis humani generis” – enemies of all mankind.

Marco Simons, legal director of EarthRights, a human rights nonprofit, said the ruling left many questions unanswered. EarthRights is currently leading a case against banana giant Chiquita Brands for allegedly funding terrorists in Columbia. As a US company Simons said the new ruling would not affect the case Chiquita.

“It’s clear in other areas of the law that any foreign company doing business in the US has to abide by US standards. For the ATS there is now a two tier system,” he said. Simons said he expected Congress would have to address the imbalance and that the ruling was likely to lead to more not less litigation.

India rejects Novartis patent plea

Category : Business, World News

India’s Supreme Court rejects a plea by Swiss company Novartis to patent an updated version of its cancer drug, Glivec.

Link: India rejects Novartis patent plea

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Greenworld Wind Power Co Ltd. (GNWWF: Grey Market) | Company Name Change

Category : Stocks, World News

Thu, Feb 21, 2013 12:00 – Greenworld Wind Power Co Ltd. (GNWWF: Grey Market) – Company Name Change – Greenworld Wind Power Co Ltd. has changed its name to Greenworld Wind Supreme Power Co. Ltd.. The change goes into effect as of Thu, Feb 21, 2013. You may find a complete list of company name changes at otcmarkets.com.

See the rest here: Greenworld Wind Power Co Ltd. (GNWWF: Grey Market) | Company Name Change

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Cresval Announces Notice of Civil Claim

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 15, 2013) - Cresval Capital Corp. (the “Company”) (TSX VENTURE:CRV) announces that it has been recently served with a Notice of Civil Claim filed in the Supreme Court of British Columbia by Vancouver Island Exploration Inc. (“VIE”), a drilling contractor.

Originally posted here: Cresval Announces Notice of Civil Claim

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Cresval Announces Notice of Civil Claim

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 15, 2013) - Cresval Capital Corp. (the “Company”) (TSX VENTURE:CRV) announces that it has been recently served with a Notice of Civil Claim filed in the Supreme Court of British Columbia by Vancouver Island Exploration Inc. (“VIE”), a drilling contractor.

See the article here: Cresval Announces Notice of Civil Claim

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Supreme Court to weigh in again on affirmative action – USA TODAY

Category : Stocks


Daily Mail
Supreme Court to weigh in again on affirmative action
USA TODAY
12:24AM EST October 10. 2012 – WASHINGTON — Racial preferences in college admissions usually are viewed as a boon to minorities at the expense of whites. But when the Supreme Court takes up Fisher v. University of Texas on Wednesday,
Racial Balance at Risk as Supreme Court Hears Texas PlanBusinessweek
2 court battles on affirmative action could affect admissions at Michigan schoolsDetroit Free Press
Eyes on Justice Kennedy in Affirmative-Action CaseWall Street Journal
New York Times

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Chevron loses $19bn fine appeal

Category : World News

The US Supreme Court refuses to block an Ecuadorean court’s ruling that oil firm Chevron pay billions in damages for pollution in the Amazon.

See the article here: Chevron loses $19bn fine appeal

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Sahara refund ‘in three months’

Category : Business

India’s Sahara business group, which was ordered by the Supreme Court to refund $3bn to its investors, says it will do so within three months.

See original here: Sahara refund ‘in three months’

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Obamacare is facing a backlash. 6M Americans, or roughly 2% of the current population, are going to wind up paying a penalty for failing to have health insurance when the impact of the 2010 health-care overhaul law is felt in 2016. That’s more than…

Category : Stocks

Obamacare is facing a backlash. 6M Americans, or roughly 2% of the current population, are going to wind up paying a penalty for failing to have health insurance when the impact of the 2010 health-care overhaul law is felt in 2016. That’s more than previously projected, according to the CBO. 85% of the increase stems from changes in baseline projections since April 2010. The other 15% is due to the recent Supreme Court decision that upholds the law, but tells states they won’t be required to beef up their Medicaid programs. 59 comments!

Read the rest here: Obamacare is facing a backlash. 6M Americans, or roughly 2% of the current population, are going to wind up paying a penalty for failing to have health insurance when the impact of the 2010 health-care overhaul law is felt in 2016. That’s more than…

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Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in…

Category : Stocks

Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in April and May,” says LPL’s Jeff Kleintop. But since the Supreme Court upheld health care legislation in June, it’s been more dramatic. 3 comments!

More: Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in…

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