We open with a global story, via CNBC:
Goldman: Cut your emerging markets exposure by a third
Goldman Sachs has a clear warning for investors: Emerging markets will continue to disappoint.
In a December report, the bank’s investment management division predicted “the strong possibility of significant underperformance and heightened volatility over the next five to 10 years.”
On to the U.S. with booster from Reuters:
IMF says will raise U.S. economic growth forecast
The International Monetary Fund predicts the U.S. economy would expand at a faster pace next year, given positive economic data and some signs of compromise in Congress, the head of the Washington-based lender said on Sunday.
IMF Managing Director Christine Lagarde also praised the U.S. Federal Reserve’s communication of its decision last week to start scaling back its massive monetary stimulus.
Al Jazeera America de.livers a pre-Yuletide blow:
Chase limits customer spending after credit-card security breach at Target
Bank says holders will only be allowed to withdraw $100, make purchases of up to $300 per day until security restored
The new limit affects roughly 2 million accounts, or about 10 percent of Chase debit-card holders, according to a bank spokeswoman. It does not apply to credit cards. The bank detailed the limits in an email sent to customers with the subject line: “Unfortunately, your debit card is at risk by the breach at Target stores.”
Sky News brands:
US: ‘Obama Care’ Printed On Heroin Packets
Police say the labels are a form of drug marketing “like putting Pepsi or Coca-Cola on a bottle”.
More than 1,200 packets of heroin with the words “Obama Care” and “Kurt Cobain” printed on them have been seized by Massachusetts State Police.
They were discovered when Trooper Joseph Petty stopped a vehicle with four people inside in the Town of Hatfield.
Crying fowl, via Associated Press:
Lt Gov: Duck Dynasty important to La. tourism
Louisiana’s lieutenant governor says the “Duck Dynasty” reality TV show is important to state tourism — and he could help connect the Robertson family with new producers if they cannot reach agreement with the A&E network.
In an emailed statement, Jay Dardenne says the state “has the infrastructure in place to maintain their record-breaking program.” Dardenne authored the state’s film and TV tax credit program. He says he’d use his influence in the state’s industry to help the Robertsons.
A notable transition from MediaWire:
Report: No black-owned and operated full-power TV stations remain in U.S.
The planned sale of Roberts Broadcasting’s remaining stations means there are “zero black-owned and operated full-power TV stations in our country,” Free Press’ Joseph Torres and S. Derek Turner write.
Low-power TV stations have a fair percentage of minority ownership, but they’re facing speculation that the FCC plans to auction their part of the broadcast spectrum to mobile-phone providers.
On to Canada with the big chill from the National Post:
‘Catastrophic ice storm’ knocks out power for 300K in Toronto as system blasts region
‘It truly is a catastrophic ice storm that we have had here, probably one of the worst we’ve ever had,’ Toronto Hydro CEO Anthony Haines said Sunday
From the Asahi Shimbun, the first of two trade deal heads:
U.S. sees Pacific trade pact talks taking time
Negotiations on a trade pact between a dozen countries around the Pacific Rim will take whatever time they need as the deal has to be both ambitious and comprehensive, U.S. trade representative Michael Froman said on Dec. 21.
The U.S.-backed deal, which Washington had wanted to conclude this year, aims to establish a free-trade bloc stretching from Vietnam to Chile and Japan, encompassing about 800 million people and almost 40 percent of the global economy.
But differences over farm tariffs between the United States and Japan have proved to be one of the major roadblocks and it will now not be finalized this year.
EUbusiness yields the second:
US, EU wrap up third round of free-trade talks
The United States and the European Union on Friday ended a third round of talks to create the world’s largest free-trade area to boost growth and jobs in their huge economies.
US and EU trade officials wrapped up five days of negotiations in Washington, where the talks began in July, to hammer out the Transatlantic Trade and Investment Partnership (TTIP), an ambitious agreement to expand trade, investment and regulatory cooperation.
The two economies combined make up 40 percent of output in the world economy.
Sky News immiserates:
Mortgage Misery For Millions If Rates Go Up
There is growing speculation that the Bank of England may begin to consider lifting the cost of borrowing within months.
Around four million families would not have enough cash to pay their mortgage if interest rates rose to barely half the rate they were before the crisis, according to Bank of England research.
The warning from the Bank comes amid growing speculation that it may begin to consider lifting the cost of borrowing within months.
An Irish lack from Independent.ie:
Firms look abroad as graduates here lack key skills
The warning comes as Japanese technology company Fujitsu, which employs 350 people here, confirmed it would have to recruit abroad for many of the PhD level experts it needed for its Irish operations.
The company’s head of research, Anthony McCauley, warned there was a skills shortage in certain technical areas. “A lot of the graduates we’ve found are from Egypt, Syria, France and Germany,’‘ he told the Sunday Independent.
Bubble building from Independent.ie:
House prices to rise 30pc in city shortfall
Taoiseach hopes a rebound in construction industry will lay foundations for ‘year of jobs’
The Government last week announced that 2014 would be the “year of jobs”. Taoiseach Enda Kenny said the number of family homes being built needed to treble to 25,000 a year.
However, industry sources told the Sunday Independent that supply next year would struggle to exceed 8,000, creating a huge demand for houses that will result in rising prices.
From the Reykjavík Grapevine, a master agreement:
Collective Bargaining Agreement Reached, Many Unions Disappointed
While a new collective bargaining agreement between many of Iceland’s labour unions and management was signed yesterday, many other unions believe the agreement does not do enough for Iceland’s workforce.
Vísir reports that yesterday, officials from the Confederation of Icelandic Labour Unions (ASÍ) and the Confederation of Icelandic Employers (SA) signed a new collective bargaining agreement, only weeks away from the current one expiring.
Wage increases have been a hotly contested part of these negotiations, and the new agreement calls for a 5% wage increase for those making the lowest wages, and a 2.8% increase for everyone else. Union proposals for higher wages, as well as tax relief for minimum wage earners, was rejected by management.
From Sweden, TheLocal.se concludes:
‘Neo-Nazis are lost young boys who want to shock’
Ahead of Sunday’s protest rally against the attack by neo-Nazis on a peaceful demo last weekend, Stockholm University criminology professor Jerzy Sarnecki explains the allure of extreme-right organizations.
TheLocal.se follows up:
Anti-racism rally attracts thousands in Stockholm
Over 10,000 people took to the streets of Stockholm to protest against Nazism and racism in a demonstration which had a heavy police presence numbering over 100 officers.
The rally was held in Kärrtorp in the south of capital with numbers swelled by last week’s violence after a similar rally in the same place was marred by ugly scenes instigated by neo-Nazis.
Germany next, with Deutsche Welle hitting the road:
Transport Minister Dobrindt again advocates foreigners’ tolls on autobahns
Germany’s new transport minister, Alexander Dobrindt, has said that a toll for foreign cars on highways could be implemented by 2015. He postulated an annual pass costing 100 euros, to be reimbursed for domestic drivers.
Alexander Dobrindt told Sunday’s mass-circulation “Bild am Sonntag” newspaper that he hoped for a new toll system for passenger vehicles on the German network of autobahns, or highways, by 2015. The CSU politician, a member of the Bavarian sister party to Angela Merkel’s CDU, said the new German grand coalition government would work on draft laws next year.
On to Spain, where Spanish Property Insight takes the plunge:
Building industry continues on path towards oblivion
Planning approvals crashed again in September, as the Spanish housing building industry heads towards oblivion.
There were just 2,228 planning approvals in September, down 29pc on last year, and 98pc compared to September 2006, according to figures from the Ministry of Public Works (Fomento).
Looking back, September 2006 marked the zenith of Spain’s runaway building boom. There were 127,000 planning approvals that month, and it’s been downhill ever since. However, I doubt anyone could see quite how bad it was going to get.
thinkSPAIN maintains the connection:
Catalunya to prevent utility firms from cutting off power to householders in poverty this winter
CATALUNYA’S regional government plans to push through a draft bill of law banning electricity and gas companies from cutting off the supply to residents struggling with poverty or in a precarious financial situation.
Regional minister for business Felip Puig wants to get the new legislation on the table before the end of the year so that those families who have little or no income and cannot pay their fuel bills will not be left with no heating or means of cooking during the winter.
Spain’s central government has already rejected a proposal to pass a similar law affecting the whole country.
El País re-volts:
Electricity companies hit back in war of words over wholesale auction
Unesa says minister’s claim of “crude manipulation” is a sign of “contempt” for the sector
The government’s decision to annul the result of last Thursday’s electricity wholesale auction, which would have meant an 11- to 13-percent rise in consumers’ bills as of January, has been taken as a declaration of war by the sector, which is considering legal action against the administration.
The government based its decision on a report by Spain’s CNMC anti-trust authority that identified “atypical circumstances” in the run-up to Thursday’s auction – essentially accusing the power companies of manipulating the market to hike the price of electricity.
TheLocal.es follows the line:
Spanish demand for soup kitchens on the rise
More and more Spaniards are seeking free food in the form of soup kitchens as the soaring costs of everyday life are set to bring a cruel Christmas as AFP’s Daniel Bosque investigates.
A 2013 survey found that 17 percent of Spanish households say they get to the end of the month “with great difficulty”, and 9.2 percent have been late on paying their bills, according to the National Statistics Institute.
From thinkSPAIN, Banksters Behaving Badly:
Bankia sued for knowingly selling shares to customer with Alzheimer’s
STATE-OWNED financial institution Bankia has come under fire for selling preferential shares to a customer it knew was suffering from Alzheimer’s.
His widow, 72, who says the couple were customers of what used to be Bancaja – one of the two institutions along with Caja Madrid which fused after being bought by the State and renamed Bankia, having gone bankrupt – for 44 years, was reportedly told they could not have their money held on deposit in cash, only in shares.
From El País, detailing regression:
Abortion reform will give medical staff right to conscientiously object
Previously, only doctors directly involved in termination procedure could opt out
Pro-life gynecologists may choose to withhold ultrasound scan information from women who are pregnant
The Portugal News elevates:
Economy reaches pre-bailout high
The economic climate indicator has recorded its third successive month of growth. This latest increase has now pushed this figure to levels last seen in the spring of 2011, when Portugal was forced into seeking international financial assistance in order to pay its dues.
Statistics Portugal (INE) has for the third consecutive month released numbers revealing renewed optimism in the national economy. After a slight increase this past August of 0.3 percent, every passing month since has reported stronger results, with September seeing growth in the economic indicator of 0.8 percent followed by 1.3 percent in October.
The underlying new austerian reality, also from the Portugal News:
Labour costs fall in Portugal
Portugal ranked alongside Slovenia as the euro-zone country whose labour costs in the third quarter were most sharply down on the year, by 0.4%, and was third among members of the Organisation for Economic Cooperation and Development on the same measure, the OECD said in a statement
Portugal thus bucked the general trend for a slight increase in unit labour costs (the ratio between remuneration per work and productivity) in the euro zone, up 0.1% on the year. In the previous quarter, labour costs had been down 1.9% on the second quarter of 2012.
Another austerian enactment, via the Portugal News:
Government approves increase in retirement age to 66 from 2014
Portugal’s government has approved legislation to increase the statutory retirement age to 66, from 65 at present, from next year, in a move aimed at saving €205 million in 2014 alone.
The decision was taken at the weekly cabinet meeting of the right-of-centre coalition government.
Italy next, with mute injustice from TheLocal.it:
Migrants sew lips together in Rome protest
Four North Africans held in a migrant centre on the outskirts of Rome have sewn their lips together in protest at their lengthy detention, Italian news agency ANSA reported Sunday.
The men, aged between 20 and 30, used a thread from a blanket and a small needle to sew their mouths shut at the Ponte Galeria facility on Saturday.
Al Jazeera America implores:
Pope urges Italy to find housing for all families
In his Sunday blessing, Pope Francis asks anti-austerity protesters to use dialogue rather than violence
And the Los Angeles Times suspects:
Vatican bank finds over 100 suspicious transactions, official says
A crackdown on money laundering at the Vatican bank has uncovered more than 100 suspicious payments this year, an official says.
The Vatican’s bank has unearthed more than 100 suspicious payments this year after starting full-scale checks on its customers for the first time to crack down on money laundering, up from six last year, said an official knowledgeable about the cleanup effort.
The official, who requested anonymity because he was not authorized to discuss the inquiry publicly, spoke after the Vatican said Monday that it had been given a positive progress report by Moneyval, the Council of Europe money-laundering monitor, after a middling grade in a full evaluation last year. The new report, which was signed off Monday and will be formally released by Moneyval on Thursday, gives an assessment but no grades.
After the jump, Greek austerity, Ukrainian cooldown, Turkish disorder, Pakistani and Indian inflation, Thai protests, neoliberal moves in China and Japan, and the latest Fukushimapocalypse Now!. . .
For our first Greek headline, a curious austerian layoff via Greek Reporter:
Teacher Fired for Failing Greek PM’s Son
The Greek Central Council for Secondary Education (KYSDE) announced the definitive dismissal of the teacher who a year and a half ago caught the Greek Prime Minister’s son cheating on a test and gave him a failing grade in her class.
After 21 years of working as a teacher, she was removed from duty in June 2012, after having caught Antonis Samaras’ son cheating on a test. She filed a lawsuit against Athens College, Greece, seeking to overturn their decision.
Kathimerini English besmogs:
Health Ministry warns elderly and asthma sufferers of smog in Athens
The Health Ministry warned the elderly and asthma sufferers on Sunday that smog levels in Athens and other urban areas were at dangerous levels due to weather conditions and the high number of people burning wood to stay warm.
The ministry warned that people over the age of 65 should limit their physical activity and that asthma sufferers might need to use their inhalers more frequently because of the smog.
Greek Reporter covers assistance:
Greeks Relying on Church Food Banks
Mission, supported by the Greek Orthodox Church is organizing food banks at the church of Agii Apostoli in central Athens. Every day more and more Athenians are queuing to receive food.
According to euronews, the Greek Orthodox church supported Non-governmental Organisation (NGO), Mission, distributes food daily to Greeks who have been hit by the economic crisis and austerity measures, and who are struggling to feed themselves and their families.
On to the Turkey with RT:
Tear gas and corruption: Istanbul police disperse protesters as graft scandal
Turkish police have shot tear gas and water cannon at thousands of demonstrators swarming onto Istanbul’s streets to protest the government after a corruption probe prompted the PM to purge the police force and allege ‘dark’ international plots.
Thousands gathered in Istanbul’s Kadikoy district, wielding banners which called for the resignation of Prime Minister Recep Tayyip Erdogan. Some witness estimates say that the crowd grew to as much as 10,000 at one point, according to Reuters.
Chants of “enough is enough, Istanbul is ours” could be heard coming from the crowd, according to Turkey’s Dogan news agency. March participants comprised of a broad coalition of party groups and civil society organizations.
On to the Ukraine, first with one perception from EUbusiness:
Ukraine pro-EU protest loses momentum after Russia deal
The pro-EU protest movement in Ukraine on Sunday appeared to lose its momentum after the government’s bailout deal with Russia, as the latest rally in Kiev drew far fewer demonstrators.
Some 40,000 showed up at Independence Square for the fifth in a series of Sunday protests against the U-turn by the government in November, when it decided not to sign the Association Agreement for closer ties with the European Union under Kremlin pressure.
All the previous rallies had attracted hundreds of thousands of protesters, making the turnout at the latest rally the lowest since the Sunday protests began on November 24, AFP correspondents said.
And the other from the Associated Press:
Kiev anti-government protest draws 100,000
About 100,000 demonstrators are gathering in the center of the Ukrainian capital to demand the ouster of the president and government, as mass anti-government protests enter their second month.
The rallies that have turned Kiev into a giant protest encampment were sparked by President Viktor Yanukovych’s decision last month to choose ties with Russia over the West. After dozens were injured in violent police crackdown on a peaceful rally, the protests turned against Yanukovych himself.
Opposition leader Vitali Klitschko urged the crowd on Sunday to spend the New Year and the following weeks on Kiev’s Independence Square to force Yanukovych into early presidential and parliamentary elections. Other leaders are announcing plans to transform the protests into a nationwide civic movement.
And a Canadian lends his voice, via the National Post:
Conservative MP takes his freelance diplomacy to Ukraine in support of pro-EU protesters
Edmonton MP Peter Goldring says he paid his own way to Kiev where he addressed crowds of 400,000 people as they chanted ‘thank you, Canada!’
On to Latin America, first with the Los Angeles Times:
Mexico’s political left unable to derail Pemex legislation
A bill ending the monopolies of the state-owned electric and petroleum companies is just the latest setback for the increasingly divided leftist movement.
Mexico’s leftist politicians have watched hopelessly in recent days as a center-right coalition secured passage of a sweeping energy reform bill that will allow foreigners to drill for oil on Mexican territory for the first time in several decades.
It was a move that once would have been unthinkable in a country that still celebrates the 1938 nationalization of the oil industry with a national holiday. And it remains a sore topic for many Mexicans: In a nationwide poll released in June, 65% said they opposed opening Pemex, the state-run oil company, to private investment.
The Argentina Independent covers heated tensions in a power struggle:
Sparks Fly Between Power Companies and Government
After six days of rolling blackouts, power companies have defended themselves in response to Cabinet Chief Jorge Capitanich’s threat to nationalise them if outages continued.
A spokesperson for energy company Edesur Alejandra Martínez today blamed the national government for discomfort caused by the blackouts, which have affected thousands in recent days, indicating that the current tariff and subsidy policy prevents serious improvement in delivery of electricity.
The Santiago Times eyes a market:
Chilean wine producers aim to uncork booming Chinese market
Despite Chinese government officials winding back on status-driven wine consumption, Chilean producers look to capitalize on the booming middle class appetite for imported wines.
China’s status as Chile’s largest trading partner is largely fueled by the Asian giant’s insatiable appetite for raw materials, but as its emerging middle class looks abroad to source luxury items, Chilean wine producers are betting the time is ripe to expand upon that relationship.
Xinhua loosens up:
Cuba to unveil new foreign investment law
Cuban parliament is scheduled to hold an extraordinary session in March 2014 to discuss a new foreign investment law, President Raul Castro announced here on Saturday.
Work is under way to elaborate the draft foreign investment law that is expected to be submitted to a meeting of the National Assembly (unicameral parliament) in March, said Castro at the closing session of the 612-member legislature that holds regular meetings twice a year — in July and December.
Xinhua again, with a parallel measure:
Cuba to open first stage of Mariel special development zone
Cuban President Raul Castro said on Saturday that the first stage development of the country’s first special development zone will be inaugurated in January.
The Mariel development zone, a port area located 50 kilometers west of capital Havana, will serve as an attraction for foreign investments, and an experimentation field for modern technologies and managerial experiences, Castro said in a speech closing a session of the Cuban parliament.
He added that the inauguration of the first stage of the terminal of containers in Mariel port will be accompanied by the construction of other vital infrastructure works.
Off to Asia, first with inflationary Pakistani outrage from the Express Tribune:
Anti-inflation rally: PTI lays into govt’s ‘tyrannical’ economic outlook
Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Sunday delivered a damning verdict on the ruling party’s ‘economic outlook’ and the extravagance of its leaders as his supporters staged a rally against inflation in the provincial capital.
“This system of inflation is a system of tyranny,” he told thousands of party workers and supporters at the rally.
Imran said that when the rich don’t pay taxes the poor have to pay the price in the form of inflation. “The government should collect taxes. There are at least three million people who live in big houses and drive luxury cars but pay no taxes,” he said.
India next, with inflationary optimism from the central bankster via the Economic Times:
Inflation may ease to 6.5 per cent in December: C Rangarajan
A fall in vegetable prices is likely to ease headline inflation and retail inflation to 6.5 per cent and 9.20 per cent respectively in December, Prime Minister’s Economic Advisory Council (PMEAC) Chairman C Rangarajan said today.
“Some of the things that have really pushed up inflation are vegetables like onion prices, which have crashed in December. Therefore when December number comes in mid January, we will see retail inflation coming down by 2-2.5 percentage from the current t level of 11 per cent or so. There could be a decline in wholesale price index … could be the order of 1 percentage,” Rangarajan told reporters on the sidelines of the silver jubilee celebration of Indira Gandhi Institute of Development Research.
Across the border to the easy with the prive of those “everyday low prices” from USA TODAY:
Bangladesh factory owners charged in fatal fire
13 people charged in fire that killed 112 workers at factory which produced clothing for Wal-Mart.
Police charged the owners of a Bangladeshi garment factory and 11 employees with culpable homicide Sunday for alleged negligence leading to the death of 112 workers in a raging fire that engulfed the factory last year.
Deutsche Welle takes us to Thailand:
Thai protesters return to streets of Bangkok
Tens of thousands of people have rallied in Bangkok, calling for the resignation of Prime Minister Yingluck Shinawatra. The main opposition plans to boycott upcoming snap elections.
Protesters brought parts of Bangkok to a standstill on Sunday, blocking key intersections on the road network.
Thailand’s National Security Council chief Paradorn Pattanatabut told the AFP news agency that a minimum of 150,000 people were involved, although protesters put the figures far higher.
And on to China with the Global Times:
CSRC in new drive to encourage investment
China will encourage investment in the stock market by capital resources with long-term investment cycles such as supplementary pensions offered by enterprises, the spokesman for the country’s securities regulatory commission said at a news briefing held in Beijing Friday.
The commission will support investment in the capital market by “supplementary pensions offered by enterprises … via some professional asset management institutions,” said Deng Ge, spokesman for the China Securities Regulatory Commission (CSRC).
Deng also noted that the commission will encourage investment by other types of long-term fund resources in the capital market.
SINA English has a question of timing:
Fed taper comes at ‘delicate moment’ for China
An employee counts yuan bills at a bank in Xuchang, Henan province. The value of the yuan retreated on Thursday, along with other emerging market currencies. Provided to China Daily An employee counts yuan bills at a bank in Xuchang, Henan province. The value of the yuan retreated on Thursday, along with other emerging market currencies. Provided to China Daily
The United States Federal Reserve Board’s announcement that it will scale back its bond-buying program could crimp liquidity in China at a delicate moment, analysts warned.
China’s interbank lending rate is at its highest since June, when the central bank pushed up rates to discourage borrowing, a move engineered partially to prevent further shadow banking activity, said Patrick Chovanec, managing director of Silvercrest Asset Management Group and former economics professor at Tsinghua University.
People’s Daily neoliberalizes:
FTZ to drive Shanghai growth
The Shanghai pilot free trade zone will provide unprecedented breakthrough opportunity next year, Party Secretary Han Zheng said yesterday.
The city will strive to work on a set of policies next year that can be replicated and promoted in China’s other potential free trade zones as part of its reform efforts, Han told Party cadres at the fifth plenary meeting of the 10th Shanghai Municipal Congress of the Communist Party of China which ended yesterday.
SINA English admonishes:
Credit rise likely to exceed GDP growth: Economist
China’s credit expansion rate is likely to be faster than the pace of growth for its gross domestic product in 2014. Difficulties will be added in the control of systemic financial risks, a JPMorgan economist said on Thursday.
Total social financing is predicted to increase by 16 percent year-on-year in 2014, compared with the possible 11 percent growth of nominal GDP, suggesting that the credit-to-GDP ratio will continue to rise from its almost 200 percent currently, said Zhu Haibin, chief economist in China at the US financial group.
“I am worrying the deleveraging progress may not happen very quickly, although it was mentioned in the statement of the Central Economic Work Conference,” Zhu said.
China Daily targets gassy gold:
BP aims for involvement in shale gas
BP Plc wants to work with Chinese companies to explore the country’s vast reserves of shale gas, in hopes that the government will give direct access to more private enterprises and foreign companies in the sector.
“China is estimated to have the world’s largest potential reserves of shale gas… It’s an exciting market, but BP’s shale gas development has yet to enter the commercialization phase,” Chen Liming, president of BP China, said.
Global Times names a suspect:
Coal blamed for heavy pollution
Nanjing, capital city of East China’s Jiangsu Province, saw its density of particulate matter smaller than 2.5 micrometers (PM 2.5) reach 411 micrograms per cubic meter on December 5.
In Shanghai it reached 602 micrograms per cubic meter on December 6, much higher than the national standard, which sets an ideal limit of 75 micrograms per cubic meter, news portal ibtimes.com.cn reported earlier this month.
Yu Yanshan, a director at the National Energy Administration, attributed the high pollution readings to consumption of coal, news agency China News Service reported Saturday.
From South China Morning Post, dealing with wheeling:
China city caps car-buying to curb pollution
Another Chinese city has capped the total number of car licence plates it will issue annually, state media said Sunday, following moves by Beijing and other metropolises to curb pollution and congestion.
The world’s most populous nation is also the world’s largest car-buyer. But it is trying to curb poor air quality and other environmental damages caused by rapid development.
Tianjin, a coastal city near Beijing with 14 million people and 2.36 million registered motor vehicles last year, will cap new car plates to 100,000 a year, the official Xinhua news agency reported.
And People’s Daily indoctrinates:
CPC gets closer to masses to ensure a ‘red China’
With the Communist Party of China (CPC) clamping down on party corruption as part of its “mass line” campaign, some officials fear they will face hard times unless they get closer to the people.
Off to Tokyo with the Japan Times:
Economy forecast to grow 1.4% and CPI to rise 1.2% in fiscal 2014, excluding tax hike impact: government
The economy will grow 1.4 percent in fiscal 2014 on the back of healthy domestic demand amid inflation of 1.2 percent, excluding the effects of the consumption tax hike in April, the government forecast Saturday.
The projection in real terms compares with estimated growth of 2.6 percent in the current fiscal year, indicating the economy will stay on a recovery path despite fears that the hike in the national sales tax to 8 percent from 5 percent April 1 will stifle consumer spending and investment.
Jiji Press anticipates:
Japan to Adopt Record Budget Proposal Tuesday
Japan’s government is expected to adopt a fiscal 2014 budget proposal with record general-account spending of some 95.88 trillion yen on Tuesday.
The sum represents an increase of about 3.27 trillion yen from the initial budget for fiscal 2013 ending next March due mainly to larger social security costs and public works spending.
The budget proposal will include about 72.61 trillion yen in spending on policy measures, up some 2.24 trillion yen. Social security spending is set to top 30 trillion yen for the first time ever amid the country’s aging population.
JapanToday foresees neoliberal reality:
Abe’s labor reforms may boost ‘disposable’ workers, crimp wages
Abe, in office a year, has found little traction so far with plans to unclog Japan’s sclerotic labor market. But now his government wants to ease rules, which could make it easier for companies to replace regular “salarymen” with temporary contracted workers.
Businesses and many economists say a freer flow of labor – where easier firing allows easier hiring – would make for more robust and durable growth, one of Abe’s main goals for the world’s third-biggest economy.
But this would also likely accelerate the growth of what some call the “disposable” workforce at the expense of regular salaried workers. That in turn runs directly counter to the main aim of “Abenomics”—breaking 15 years of deflation by creating a virtual circle of rising wages, consumer spending and prices.
JapanToday cash in its chips:
Panasonic to sell stakes in chip plants to Israeli firm
Panasonic on Friday announced plans to sell majority stakes in its three domestic semiconductor plants to an Israeli chipmaker in a bid to reduce its loss-making operations.
The electronics giant will jointly set up a new firm with Tower Semiconductor to run Panasonic’s three plants—Uozu, Tonami and Arai—starting in April next year, Panasonic said in a statement after markets closed Friday.
The new firm will be owned 51% by the Israeli company, known for its “TowerJazz” brand, and the remaining 49% by Panasonic.
On to Fukushimapocalypse Now!
NHK WORLD brings us the latest leak:
Water leaks found near Fukushima tank barrier
The operator of the damaged Fukushima Daiichi nuclear power plant says 1.6 tons of radioactive water is estimated to have drained into the ground from the barrier surrounding tanks storing contaminated water.
TEPCO officials said they found water coming from the barrier’s foundation joints on Saturday afternoon.
They also said they measured 93 becquerels per liter of strontium 90 in the water remaining within the fence. The radiation level is about 9 times the national limit for water allowed to be released from the barrier.
NHK WORLD adds boots on the ground:
TEPCO to beef up Fukushima Headquarters
Tokyo Electric Power Company says it will beef up its Fukushima headquarters in a bid to help residents return to their homes.
TEPCO will finish compiling its 10-year business plan on Friday.
The Asahi Shimbun plays Chiago style politics:
Firms linked to municipal assembly members received nuclear facility contracts
With the public alarm over the safety of nuclear facilities following the 2011 Fukushima nuclear accident, municipal assembly members would be expected to monitor closely any local nuclear-related project and avoid any appearance of impropriety.
However, The Asahi Shimbun has learned that did not occur in Rokkasho, Aomori Prefecture, which is home to a number of facilities connected to the nation’s nuclear fuel recycling program.
Five construction companies in the village won construction orders totaling at least 520 million yen ($5 million) in fiscal 2011 and 2012 after the accident at the Fukushima No. 1 nuclear power plant. All five companies were headed by individuals related to incumbent Rokkasho municipal assembly members.
Kyodo News ressesses:
Japan to extend Fukushima radiation cleanup work by up to 3 yrs
The government will have to extend its decontamination work following the 2011 crisis at the Fukushima Daiichi nuclear power plant by a maximum of three years, government officials said Sunday.
The Environment Ministry will shortly release a new schedule for radiation cleanup work, which was scheduled to be completed by the March 31 end of fiscal 2013 under the initial plan, according to the officials\
The Asahi Shimbun differs:
Experts differ over nuclear accident’s effect on cancer rate in children
Experts were divided over whether radiation from the Fukushima nuclear accident affected the thyroid cancer rate among children in Fukushima Prefecture, in which 59 young people have been diagnosed with or suspected of contracting the disease.
Most of the experts dismissed the possibility that effects from radiation from the accident at the Fukushima No. 1 nuclear power plant could appear so soon in children.
NHK WORLD takes exception:
Tokyo march against restarting nuclear plants
People opposed to restarting Japan’s nuclear power plants took to the streets of Tokyo on Sunday. The march through central Tokyo was organized by civic groups against nuclear power generation.
The Abe administration plans to end the former Democratic Party government’s nuclear-free energy policy and continue to utilize nuclear power generation if plant safety can be ensured.
The Asahi Shimbun envisions:
Robots compete at U.S. trials to work at sites like Fukushima plant
As a squat, red-and-black robot nicknamed CHIMP gingerly pushed open a spring-loaded door a gust of wind swooped down onto the track at the Homestead-Miami Speedway and slammed the door shut, eliciting a collective sigh of disappointment from the audience.
The robot, developed by the Tartan Rescue team from the National Robotics Engineering Center at Carnegie Mellon University, was one of 17 competing in the U.S. military’s Defense Advanced Research Projects Agency’s (DARPA) Robotics Challenge.
The agency, which funded basic science research for now commonplace technologies like the Internet and global positioning satellites, hopes the competition will spur the development of robots that can work in places too dangerous for humans.
The challenge was launched in 2011 in response to the meltdown of the Fukushima No. 1 nuclear power plant after it was hit by a massive earthquake-spawned tsunami. Nearly 160,000 people were forced to flee the area.
From the Tampa Bay Times, radiation dangers closer to home:
Sailors on old warship dumped thousands of tons of radioactive waste for years
For up to 15 years after World War II, the crew of Albernaz’s ship, the USS Calhoun County, dumped thousands of tons of radioactive waste into the Atlantic Ocean, often without heeding the simplest health precautions, according to Navy documents and Tampa Bay Times interviews with more than 50 former crewmen.
Up to 1,000 men served on the Calhoun County in the years it dumped radioactive waste, a practice that continued until about 1960 — two years before the ship’s decommissioning.
It’s impossible to know how many suffered unusual health problems after they left the ship. The VA and Navy never followed up on their health. Some got sick and never filed VA claims. And after more than a half-century, much of the crew has died.
And for our final item, The Guardian gives us the best environmental objection ever:
Elf lobby blocks Iceland road project
Supreme court to rule on case brought by Friends of Lava, who cite environmental impact of highway and effect on elf culture
Elf advocates in Iceland have joined forces with environmentalists to urge authorities to abandon a highway project that they claim will disturb elf habitat, including an elf church.
The project has been halted until the supreme court of Iceland rules on a case brought by a group known as Friends of Lava, who cite both the environmental impact and the detrimental effect on elf culture of the road project.
