- Iran’s Web Spying Aided By Western Technology
- Timing, Tools of Fed’s Exit Strategies Come Into Focus
- Warning of stimulus cash paying for bribes
- Battle Is Brewing Over Watchdogs
- Cuts Are Here to Stay, Companies Say
- Barclays chooses a risky path to growth
- GM Will Hold Ad Budget Steady
- Berlin ready to deny Porsche a state loan
- Ecuador Threatens To Expell Oil Firms That Sue
Iran’s Web Spying Aided By Western Technology – Wall Street Journal
The Iranian regime has developed, with the assistance of European telecommunications companies, one of the world’s most sophisticated mechanisms for controlling and censoring the Internet, allowing it to examine the content of individual online communications on a massive scale.
Interviews with technology experts in Iran and outside the country say Iranian efforts at monitoring Internet information go well beyond blocking access to Web sites or severing Internet connections.
Timing, Tools of Fed’s Exit Strategies Come Into Focus – Wall Street Journal
When Federal Reserve officials meet this week, they will spend a lot of time discussing exit strategies. When should they start unwinding their efforts to stimulate the economy? How should they go about doing it?
It’s easy to answer the first question: not soon…..
Warning of stimulus cash paying for bribes – Financial Times
More than $500bn in global economic stimulus spending could be lost to wasteful and fraudulent procurement practices ranging from bribery to selecting less efficient service providers, according to a report on Monday by Kroll, the world’s leading risk consultancy.
Governments have promised to spend $5,000bn (€3,587bn, £3,026bn) to jump-start their economies. But many of them – and the companies they deal with – have reduced spending on compliance and control functions as part of larger cost-cutting measures…..
Battle Is Brewing Over Watchdogs – NY Times
Though the Obama administration’s plan to overhaul financial regulation appears intended to avoid some big battles, the president’s careful political calculus won’t spare him from sparring with lawmakers and financial firms.
First comes the brewing battle over the Federal Reserve. President Obama’s plan envisages the central bank with new powers over nearly any financial institution that it believes poses a systemic risk, among other things…..
Cuts Are Here to Stay, Companies Say – Wall Street Journal
Many companies that have cut jobs, pay and benefits during the recession may not be quick to restore them.
According to a new survey, 52% of companies expect to employ fewer people in three to five years than they did before the recession began. The survey of 179 companies was conducted this month by consulting firm Watson Wyatt Worldwide Inc….
Barclays chooses a risky path to growth – Financial Times
“Barclays was yesterday forced to apologise to shareholders after the UK government took a 20 per cent stake in the bank to shore up its balance sheet after it disclosed losses of $2bn relating to an investment in Big Bonus Capital Management, the troubled emerging market hedge fund.”
That is the type of newspaper article readers could see in five years if the UK bank’s resurrection of its ambition of building an investment bank is allowed to spin out of control……
GM Will Hold Ad Budget Steady – Wall Street Journal
As General Motors prepares to drive out of bankruptcy court, Madison Avenue is breathing easier.
Late last week, the fallen auto maker said it will maintain an ad budget between $40 million and $50 million a month while in bankruptcy proceedings — much less than in years past, but about the same as in the months leading up to its June 1 bankruptcy filing…..
Berlin ready to deny Porsche a state loan – Financial Times
The German government looks set to turn down a request by Porsche for a state loan of €1.75bn ($2.44bn), with which the sports car maker hoped to ease financing problems in the wake of its stalled bid for rival Volkswagen.
A senior government official told the Financial Times that the chancellery and the finance and economics ministries had “informally agreed” to deny the company’s request after state-owned bank KfW advised against the move…..
Ecuador Threatens To Expell Oil Firms That Sue – Dow Jones via CNNMoney
Ecuador’s president on Saturday threatened to expel foreign oil firms which launch legal challenges against his government.
Facing billions of dollars worth of legal claims for failure to complete contracts, Rafael Correa issued a blunt warning to the firms.
“The policy is going to be: Gentlemen, if you bring legal cases against us, very well, but you will get out of the country,” he said during a television and radio address…..
Tags: Headline Roundup
