nature of corporations

Peregrine Financial Group boss admits $100m fraud

Peregrine Financial Group boss admits $100m fraud

BBC – The founder of US futures broker Peregrine Financial Group has pleaded guilty to a fraud involving 24,000 customers in the US state of Iowa. The embezzlement, totalling over $100m (£61.5m), began some 20 years ago. Russell Wasendorf Sr, who is 64, was once regarded as a noble figure who supported a range of institutions from health care to universities. Read Article

UK: GPs are given cash ‘bribes’ not to send patients to hospital… Practices promised up to £26,000 if they cut referrals

Daily Mail – Doctors are to be offered cash ‘bribes’ to slash the number of patients they send to hospital. GPs have been promised financial incentives of up to £26,000 for their surgery if they take certain measures to reduce referrals. Every time a doctor sends a patient to hospital for a scan, consultation or operation, the local NHS trust is charged for the cost of their treatment. Read article

‘Agent Orange Corn’ Debate Rages As Dow Seeks Approval Of New Genetically Modified Seed

Huffington Post – A new kind of genetically modified crop under the brand name of “Enlist” — known by its critics as “Agent Orange corn” — has opponents pushing U.S. regulators to scrutinize the product more closely and reject an application by Dow AgroSciences to roll out its herbicide-resistant seeds. The corn has been genetically engineered to be immune to 2,4-D, an ingredient used in Agent Orange that some say could pose a serious threat to the environment and to human health. Approval by the United States Department of Agriculture and Environmental Protection Agency would allow farmers to spray it far and wide without damaging their crops, boosting profits for the agribusiness giant. Read article

Mitt Romney, Monsanto Man

TheNation – Though Mitt Romney has been campaigning for president since 2006, it’s alarming how little is known about critical chapters of his business biography. Nothing spells that out more clearly than his ties to Monsanto—the current target of a mid-September Occupy nationwide action—whose dark history features scandals involving PCBs, Agent Orange, bovine growth hormone, NutraSweet, IUD, genetically modified (GM) seed and herbicides, reaching back to the 1970s and ’80s. That’s when Monsanto was the largest consulting client of Romney’s employer, Bain & Company, and when Romney helped move Monsanto from chemical colossus to genetic giant, trading one set of environmental controversies for another. Read article

Twitter hands over records in NY Occupy case

Associated Press – Twitter has handed over about three months’ worth of an Occupy Wall Street protester’s tweets to a judge in a criminal trial. The social networking site had been threatened with steep fines if it did not comply with Judge Matthew Sciarrino Jr’s order to turn over the records in the case of Malcolm Harris. The tweets were handed over yesterday. Read Article

Popular Antibiotics May Carry Serious Side Effects

NY Times – Antibiotics are important drugs, often restoring health and even saving lives. But like all drugs, they can have unwanted and serious side effects, some of which may not become apparent until many thousands of patients have been treated. Such is the case with an important class of antibiotics known as fluoroquinolones. The best known are Cipro (ciprofloxacin), Levaquin (levofloxacin) and Avelox (moxifloxacin). In 2010, Levaquin was the best-selling antibiotic in the United States. Read article

UK: Firing people will be made easier, new business minister says

Telegraph – Michael Fallon, a key ally of David Cameron, said the new plans would deal with the “burdensome” and “expensive” problem of getting rid of unwanted staff. Pressure from the Liberal Democrats forced the Coalition to shelve plans for “no-fault dismissal” earlier this year, which would have allowed small companies to fire people without blame. Read Article

British questions over climate change minister’s links to his adviser

Guardian – A government minister has become embroiled in questions over his relationship with an adviser after meeting corporate clients of her private consultancy. Greg Barker, the climate change minister, worked with the energy consultant Miriam Maes when in opposition and she was hired as a departmental consultant soon after the coalition came to power. But newly released documents show Maes made repeated efforts to encourage Barker to meet representatives from Air Products, a multinational energy-from-waste supplier and one of her clients. Read article

Related articles:

- Former French Prime Minister Dominique de Villepin arrested over embezzlement case
- New Jersey capital Mayor Tony Mack held over corruption

Monsanto’s Failure in Agriculture | Brainwash Update

RT – Monsanto is the biggest producer of pesticides and genetically modified seeds in the world, and one of their arguments is that they save farmers a ton of money and improve crop yields. But are their GMO foods only serving to create super-bugs that are practically invincible? Read article

KU medical school faculty receive pay from drug companies

KCJB – Faculty members at the University of Kansas Medical Center received from $600 to $161,000 to speak at events sponsored by drug companies, The Lawrence Journal-World reports. Citing information in a ProPublica database, the Journal-World said that 18 KU Med faculty members received money for drug company events since 2009. A total of 26 faculty members have been paid for research, consulting or speaking by eight drug companies, according to the publication. Read article

Gardening company faces $12.5 million penalty for adding poison to bird food

RT – The US law and garden products company, Scotts Miracle Gro, the world’s largest marketer of residential pesticides, is facing $12.5 million in fines for violating numerous federal pesticide laws and for adding illegal toxins to wild bird food.
The company pleaded guilty to distributing pesticides with misleading and unapproved labels, distributing unregistered pesticides and falsifying pesticide registrations – but the most disturbing was its use of toxic insecticide in its bird food products, including Storcide II and Actellic 5E. Read article

GSK to develop traditional Chinese medicine

ChinaDaily – Pharmaceutical company GlaxoSmithKline will open a new research unit in China to look at traditional Chinese medicine. According to the company, Innovative TCM will be one of GSK’s R&D programs in China, aiming to transform TCM from an experience-based practice to evidence-based medicines through innovation and differentiation. Read article

Isaac churned up old oil from BP spill in La., tests confirm

CBS – Laboratory tests show that globs of oil found on two Louisiana beaches after Hurricane Isaac came from the 2010 BP spill. Tests run by Louisiana State University for state wildlife officials confirmed that oil found on Elmer’s Island and Grand Isle matched the biological fingerprint of the hundreds of millions of gallons of oil that spewed from BP’s Macondo well. Read article

Brazil Soy Group Warns Farmers Against Monsanto Seed

Fox – The grains producers’ association in Brazil’s top soybean-growing state, Mato Grosso, warned farmers this week not to plant a new variety of transgenic soy it says Monsanto Co. (MON) has been distributing. The soybean variety, Intacta RR2 Pro, hasn’t been approved in China, where more than two-thirds of Brazil’s exports of the oilseed are shipped. Mato Grosso state soybean and corn producers’ association Aprosoja said in a statement Monday that farmers using Intacta RR2 seeds could accidentally contaminate shipments of approved soybean varieties, putting exports to China at risk of being refused. Read article

Fragments of foreign DNA and other substances from vaccinations found in sick, disabled and dying children

Blitz – This week an important paper by Leslie Carol Botha hit the Internet by storm. This revolutionary paper titled Unveiling the Culprit – Is Foreign DNA Contamination the Autistic Villain behind Biologic Vaccine Injuries, is one of the first papers to discuss various foreign DNA fragments being discovered in sick, disabled and dying children after they have received various childhood vaccinations. Over the past six years, Ms Botha has been heavily involved and dedicated to using her print and broadcast experience to share information with the public about the potential dangers of the HPV vaccines. Read article

Louisiana Court Upholds $257.7M Jury Verdict Against Pharmaceuticals

IJ – Louisiana’s 3rd Circuit Court of Appeal has upheld a $257.7 million jury verdict in a lawsuit brought by Attorney General Buddy Caldwell against Janssen Pharmaceutical and Johnson & Johnson for defrauding the state’s Medicaid program, the attorney general’s office announced. Caldwell sued Johnson & Johnson for serious misrepresentations regarding the drug Risperdal’s link to diabetes in order to obtain funds from Louisiana’s Medicaid program. Read article

Nomura to Target Europe for Almost Half of $1 Billion Savings

Bloomberg – Nomura Holdings Inc. (8604) aims to derive almost half of $1 billion in planned savings from Europe, where it lost the most money last year, as Japan’s biggest brokerage scales back its global ambitions. The company will reduce costs by $450 million in Europe and the Middle East, $210 million in the Americas and $340 million in Asia including Japan, Nomura said in a presentation to investors in Tokyo today. About 45 percent of the cuts worldwide will be from trimming jobs, with the rest coming from other operational expenses, it said. Read Article

Christians try Human Rights court case

BBC – Four British Christians who say they have been treated unfairly are starting a court case at the European Court of Human Rights. The four are a counsellor, an airline worker, a person who conducts weddings, and a nurse. Two claim they were treated badly for wearing cross symbols on their necklaces, while the other two cases relate to their views about gay people. Read Article

25 Cutting Edge Firms Funded By The CIA

BusinessInsider – It’s all to ensure that the Agency remains on the forefront of tech. Not long ago, In-Q-Tel invested heavily in a company called Keyhole. Never heard of them? Maybe you know their work, a little project eventually known as Google Earth. So, want to know what’s next for technology? Keep an eye on these 25 companies. Read article

Gazprom faces EU anti-competition probe

BBC – The European Commission (EC) has said it will investigate Russian energy giant Gazprom for possible anti-competitive practices in central and eastern European gas markets. The commission said it was concerned Gazprom “may be abusing its dominant market position”. It will look at whether the firm restricts the free flow of gas across member states, prevents diversification of supply, and prices gas unfairly. Gazprom said: “Let them investigate.” Read Article

‘Coalgate controversy’: India police raid coal firms

BBC – Police in India are carrying out raids across 10 cities as part of an investigation into alleged corruption in the allocation of coalfields. Police say they are searching the premises of five companies, which allegedly misrepresented facts prior to being allocated the coalfields. Government officials and company employees are also under investigation. State auditors say India lost $33bn (£20bn) allotting coalfields at below market rates in the years up to 2009. Read Article

Robben Island penguins hit by fuel from wrecked tanker

PhysOrg – Fuel leaking from a Turkish freighter wreck that has been smashed up by a storm has contaminated at least five penguins on South Africa’s Robben Island, emergency services said Sunday. One penguin from the island had been rescued for treatment and cleaning and a team would also capture the others, they added. Read article

China probes ‘gutter oil in medicine’ claim

BBC – Chinese officials have told pharmaceutical firms to check their suppliers after claims that some have used “gutter oil” to make antibiotics, state-run media report. Officials are looking into firms that reportedly use the cheaper gutter oil rather than the more expensive soy bean oil in the production process. Gutter oil is reprocessed kitchen waste dredged from restaurant drains. Read article