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11/19/13

Eurozone posts 13.1-billion September trade surplus: EU

The eurozone posted another big 12-month increase in its trade surplus on Monday, the latest monthly data from the EU's Eurostat agency showed.

The first estimate for September gave a 13.1-billion-euro surplus (US$17.7 billion) for the trade in goods with the rest of the world, compared with 8.6 billion euros in September 2012.

A trade surplus is one of the factors of growth in an economy, whereas a deficit tends to sap growth, and so achieving a trade surplus is of critical importance to economies in crisis.

Read more: Eurozone posts 13.1-billion September trade surplus: EU

France: French PM announces plan to simplify tax system

French Prime Minister Jean-Marc Ayrault said on Monday he wanted to simplify the tax system, announcing a consultation process with the aim of proposing a broad tax reform to parliament by 2015.

The Socialist government has suffered criticism over tax increases introduced to shore up public finances, with business leaders saying an excessively complex and costly system is driving away investors.

"I think the time has come for a transparent overhaul of our tax system," Mr Ayrault told Les Echos business daily. "The objective is to come up with rules that are fairer, more efficient and easier to understand." "This overhaul will obviously require in-depth dialogue. I will meet all social partners in the coming days," he said, referring to business groups and labour unions.

Frustration over tax and unemployment stuck at 11 per cent, have dragged President Francois Hollande's approval rating to 20 percent, the lowest score for a postwar president, an Ifop poll showed.

A planned tax on heavy road transport provoked violent protests in western France where demonstrators torched toll gates, leading Mr Hollande to suspend the policy.

Read  more: French PM announces plan to simplify tax system

France: IKEA bosses in France questioned over illegal spying claims

Two executives at IKEA France are being questioned by police as part of an investigation into allegations the company purchased police records to snoop on staff and customers, a legal source said.
Ten individuals, including four police officers, have been placed under investigation.

IKEA France CEO Stefan Vanoverbeke, his predecessor Jean-Louis Baillot and chief financial officer Darius Rychert were formally detained for questioning after more than a year and a half of investigation, AFP reported, quoting an anonymous legal source.

French prosecutors opened a criminal investigation in April 2012 following allegations that IKEA paid to illegally acquire secret police files in an effort to gain information about staff and customers, including one who was attempting to sue the world’s largest retailer.

The reports alleged IKEA France attempted to gain information on its own workers, including union members, the owners of particular car registration numbers and names connected with a list of mobile phone numbers.

Police conducted a search of the company's headquarters on the outskirts of Paris 11 days ago. 

Read more: IKEA bosses in France questioned over illegal spying claims — RT News

Banking Fees: How to Avoid Bank Fees While Traveling - by Nomadic Matt

There are a number of things you can do to reduce your ATM fees overseas.

The first thing you should do is set up a checking account at a major bank. ALWAYS PICK A MAJOR BANK! Why? Most major banks have partnership agreements with counterparts overseas that allow for free ATM withdrawals. While they have the highest fees  euro 2 ($5 USD per withdrawal), by using partner ATMs, you can avoid ATM charges.

Below is a list of major banks that have ATM partnerships with other global banks where you can avoid fees:
Moreover, you can also pick a global bank that has branches around the world. I use HSBC for most of my international banking. HSBC has ATMs all over the world. Using those ATMs means I don’t have to pay those fees. As of September 2011, HSBC has raised their fee to $2.50 USD per ATM transaction when you use a non-HSBC ATM.
Read more: How to Avoid Bank Fees While Traveling | Nomadic Matt's Travel Site

NSA Spying: 78% In US Think U.S. Spies On Others As Much or More Than They Spy On Them - Rasmussen Reports™

Most voters US consider foreign spying a serious threat to the United States, but three-out-of-four think America spies on other countries as much or more than they spy on them.

Sixty-seven percent (67%) of Likely U.S. Voters believe spying on the United States by other countries is at least a somewhat serious threat, with 26% who say it’s Very Serious.

A new Rasmussen Reports national telephone survey finds that 25% think foreign spying is not a serious threat, but that includes only three percent (3%) who feel it’s Not At All Serious. (To see survey question wording, click here.)

Only thirty-four percent (34%) of Likely U.S. Voters favor the NSA’s tracking of the telephone calls and e-mails of millions of Americans as part of the effort to fight terrorism, according to a new Rasmussen Reports national telephone survey. (To see survey question wording, click here.)

Read more: 78% Think U.S. Spies On Others As Much or More Than They Spy on Us - Rasmussen Reports™

European Development: Connecting Europe: Trans-European Networks

Connecting Europe Facility" (CEF) is the EU's new funding mechanism for infrastructure projects of common interest for trans-European transport, energy and telecoms networks with an overall budget of about € 29.3 billion for 2014-2020 (at constant 2011 prices). The CEF should accelerate the completion of trans-European networks and help to leverage funding from both the public and the private sector

The CEF regulation informally agreed by EP and Council on 27 June lays down the conditions, methods and procedures for providing Union financial assistance to trans-European networks in order to support projects of common interest in the sectors of transport, telecommunications and energy infrastructures and to exploit potential synergies between those sectors.

Out of €23.17 billion earmarked for transport projects, €10 billion would be transferred from the Cohesion Fund to be used exclusively in member states eligible for Cohesion Fund money. The total budget for funding energy projects will be € 5.12 billion and MEPs insisted that these projects should be funded primarily by financial instruments. The total budget for the funding of telecommunication projects will amount to € 1 billion.

Parliament defended elements of the proposal, among other things regarding a broad and flexible use of financial instruments, and achieved the following improvements:

Read more: Connecting Europe: Trans-European Networks

11/18/13

NSA Spy Ring: Indonesia recalls ambassador to Australia over spying allegations - Helen Davidson and Matthew Weaver

Australia's spy agencies have attempted to listen in on the personal phone calls of the Indonesian president, Susilo Bambang Yudhoyono, and have targeted the mobile phones of his wife, senior ministers and confidants, a top-secret document from whistleblower Edward Snowden reveals.

The document, dated November 2009, names the president and nine of his inner circle as targets of the surveillance, including the vice-president, Boediono, who last week visited Australia. Other named targets include ministers from the time who are now possible candidates in next year's Indonesian presidential election, and the first lady, Kristiani Herawati, better known as Ani Yudhoyono.

When a separate document from Snowden, a former contractor to the US's National Security Agency (NSA), showed Australia had spied on Indonesia and other countries from its embassies, the Indonesian foreign minister, Marty Natalegawa, reacted angrily and threatened to review co-operation on issues crucial to Australia such as people smuggling and terrorism.

Read more: Indonesia recalls ambassador to Australia over spying allegations - live updates | World news | theguardian.com

Food: 11 Foods That Are Changing the World - by Eliana Dockterman

As far as food sources go, there are few better than insects: the average grasshopper, for example, is low-cost, low-calorie, exists in abundance, and contains 29% of your daily protein value.

That’s a main reason why they’re such a diet staple for some 2 billion people in Asia, Africa and Latin America.

Yet in the Western world, insects are considered gross—meaning that in countries like America, livestock still reigns supreme (even though its production can do more damage to the environment than automobiles, according to the U.N. Food and Agriculture Organization).

But that’s starting to change, thanks food innovations like insect tacos—available at Antojeria La Popular, a popular restaurant in New York City, among others—which are making nontraditional protein seem more palatable. Meanwhile, Sushi Mazi in Portland has started serving grasshopper sushi. And Berlin’s Never Never Land restaurant serves gourmet insects on salads and even in chocolate sauce.

Read more: The Grasshopper Taco | 11 Foods That Are Changing the World | TIME.com

Money: The Rise of Bitcoin - QuickTake - Is It Real Money If It Doesn't Come From the Mint? By Max Raskin

They’re called Bitcoins, but you can’t put one into your pocket. Don’t try to use it to tip the waiter. So what makes Bitcoin money? The same thing that makes all money money — trust, in this case backed up by a lot of code-breaking computers.

Created in 2009, Bitcoin has grown into the world’s largest virtual currency, traded on exchanges around the world. It’s the product of open-source software and a decentralized network of electronic “miners,” making it a multibillion-dollar experiment in monetary privatization and perhaps the first step toward an age when the digital economy outgrows the restraints of nation states and wallets full of paper.

he value of Bitcoin soared in early 2013 amid a torrent of media coverage, hitting an intraday record high of $266 in April. Some buyers were drawn by a mistrust of central banks they saw as fueling inflation; for them, Bitcoin, which has rigid limits on money supply written into its software, was a safer alternative.

Others liked its anonymity for online transactions, legal or not. But much of the surge was driven by newer investors with more traditional motivation — getting in on the ground floor of a product in demand. In July 2013, the Winklevoss twins of Facebook fame announced that they had bought 1 percent of the Bitcoin in existence and later filed to offer a Bitcoin ETF.

Prominence also brought new problems, however. The largest Bitcoin exchange, Mt. Gox, located in Japan, was  the target of hacking attacks that drove the price down. In the summer of 2013, regulators began to take notice, raising thorny questions of oversight.

Then on Oct. 2, Bitcoin prices plunged by a third after U.S. prosecutors announced the indictment of the operator of Silk Road, an anything-goes online market where drugs and other illicit goods were peddled for Bitcoin. But it soon rebounded to set new highs, and the Justice Department declared in November that Bitcoins can be “legal means of exchange.”

For more: Bloomberg

The Netherlands: Health Insurers have also become too big to fail

Health insurers like banks have also become too big to fail '. That says Chris Oomen, CEO of health care provider ' Achmea.  In 2008 it received state bailout funds and today controls one third of that tmarket ',

"Assume Achmea goes down -  there will be no health care provider which is able to accept our insured in the Netherlands, because no one has enough equity to take on our 5 million customers. That requires so much capital, that you will become bankrupt immediately. We have therefore also become  'too big to fail.' says Oomen.

According to Oomen hospitals now also fall in this too big to fail category in the Netherlands.


Almere-Digest

Turkey: ErdoÄŸan adds Barzani to Turkey’s Kurdish bid - by Murat Yetkin

Turkish Prime Minister Tayyip Erdoğan was aiming at hitting a few birds with one stone when he planned his Diyarbakır visit over the weekend.

One of them was to bring a new impetus to his initiative, started a year ago, to open dialogue with the outlawed Kurdistan Workers’ Party (PKK) in pursuit of a political solution for Turkey’s Kurdish problem.

There were criticisms from the PKK and the Peace and Democracy Party (BDP) in Parliament, which share the same grassroots that the government was dragging its feet and was not coming up with a new step to reanimate the process.

ErdoÄŸan pulled a new rabbit from his hat and said he hoped “those up in the mountains will be down and the jailhouses will be emptied” soon. That was a message to win the hearts and minds of perhaps not the PKK leadership in the Kandil Mountains of Iraq, but the Kurds whose kids are recruited by the PKK for its armed campaign, lasting over the past 30 years, with an average life expectancy of 2.5 years there. Even the “Özgür Gündem” daily, which is close to the BDP, yesterday admitted that it was something new with its “Only promises are not enough” headline.

Read more: MURAT YETKİN - ErdoÄŸan adds Barzani to Turkey’s Kurdish bid

European Communications: A cloud safe from the NSA's prying eyes: Europe begins work on its EU - by Michael Filtz

At last week's Berlin launch of a new EU-funded research project which aims to lay the groundwork for a European-wide cloud, spying by foreign governments hung darkly over the proceedings.

"Recent spy allegations have shocked some of us," according to Neelie Kroes, vice president of the European Commission, but "they should not derail the cloud opportunity".

According to Estonia's president Toomas Hendrik Ilves, these allegations have brought greater public awareness of cloud security. "Before 6 June, this was a process that was going on without much public opinion," he said, referring to the date when the Snowden NSA leaks first hit the press, "that it seemed to be kind of a thing for geeks. "After 6 June, this has become a pan-European issue for good and bad."

'Cloud for Europe' seeks to establish a common regulatory framework for a continent-wide cloud, intended to be more secure from the eyes of foreign intelligence services than the currently available equivalents.

The main idea behind the project seems to be that if regulators could create a more secure space for data storage, European governments and consumers would be more likely to trust it. Plus, regulatory oversight could make data privacy rules more consistent across borders, and be more reflective of European legal values.

"95 percent of cloud services that are used in Europe come from a different legal space, without any European participation," Ilves said, "in which there is the kind of security that some other countries have demanded but not the kind of security that satisfies European need."

Read more: A cloud safe from the NSA's prying eyes: Europe begins work on its EU-wide system | ZDNet

11/17/13

Populism out of control: Looting in Venezuela: 'This is where Maduro’s populism gets us!' - by Yolimar Rosales

Last week, the Venezuelan government resorted to drastic measures to cap the rocketing prices of electronic goods: the army was ordered to occupy ‘expensive’ department stores to force them to lower their prices. In the city of Valencia, some residents took that as a green light to go on a looting spree.
President Nicolas Maduro, elected in April following Hugo Chavez’s death, launched his initiative on November 8 to fight back against what he called “bourgeois parasites”. National guard forces took over a number of department stores across Venezuela and arrested several managers accused of price speculation. The prices of electronic appliances had increased by 1,000% over the course of the year. Company executives blamed this increase on the high inflation rate, which is currently  at an annual rate of 54%.
Several factors explain Venezuela's high rate of inflation. Firstly, the country’s national currency – the Bolivar - was devalued by a third in February 2013 to cover the budget deficit created by the electoral campaign. 
What's more, even though the official exchange rate with the dollar is now at 6.30 Bolivars, the black market rate is ten times higher. That has a direct impact on companies that have to import products. Unlike local products, the government does not control the prices of imported products, which can reach extremely high levels.

Read more: Looting in Venezuela: 'This is where Maduro’s populism gets us!' | The FRANCE 24 Observers

Tech Sector Europe: Investors flock to Europe in search of next Supercell - by Mia Shanley and Jussi Rosendahl

Investments in the tech sector in Europe are at $3.22 billion so far in 2013, compared with $3.58 billion last year, according to Thomson Reuters data. Europe makes up 11 percent of global investments so far this year compared with 10 percent in 2012.

Riding a wave of euphoria surrounding the success of Finnish mobile game maker Supercell, venture capital firms are chasing after European tech start-ups in search of the next big thing.

Japanese tech and telecoms group SoftBank's 51 percent stake purchase in 3-year-old Supercell, announced last month, valued the maker of hit games "Clash of Clans" and "Hay Day" at $3 billion.

"Everybody wants to be the new Supercell," Torleif Ahlsand, General Partner at Nordic technology investor Northzone, said at the annual "Slush" tech start-up conference in the Finnish capital.

With low economic growth prospects in Europe and the United States, venture capital investors hungry for yield are looking to new tech start-ups to provide the high level of returns they seek. And the amount of cash chasing the next potential winner could drive up valuations.

A strong market debut by Twitter Inc. in the United States and a comeback by Facebook following a shaky market debut last year has also lifted the mood.

Finnish gaming veteran Lasse Seppanen, CEO of PlayRaven, said in the past he had had to chase the venture capitalists.

"These days, VCs are calling me," he said.

And while investors say there is a risk of bubbles forming, the industry appeared to be growing at a more sustainable pace than in previous tech booms.

"We think there is going to be a steady flow of billion dollar companies in Europe," Kevin Comolli, General Partner at Accel, an early Supercell investor, told Reuters.



Read more: Investors flock to Europe in search of next Supercell | Reuters

Experience: Things I Learned Wandering Around Europe for 7 Months - by Matthew Trinetti

I realize that everyone is in different life and financial situations, and those can be reasons for postponing travel.

But I do believe we each have a duty to humanity to move our ass out into the world and experience some perspective. Television and the Internet are nothing like the real thing. We need firsthand experience.

The world would be a much better place for it.

Read more: Things I Learned Wandering Around Europe for 7 Months | Matthew Trinetti

Cellular Phones: LTE-Advanced tests in Europe push wireless speeds - by Mikael Ricknäs


European operators Vodafone, Telefónica, and EE have all started testing LTE-Advanced, and are aiming to offer wireless connectivity speeds exceeding 200Mbps. But the hardware isn't as speedy: A lack of devices means commercial services will have to wait.

While LTE is still in its infancy in many parts of the world, operators have started to test LTE-Advanced, which uses a handful of technologies to increase speeds even more. Last week, Vodafone and Telefónica in Germany announced small-scale trials of the speedy technology in Dresden and Munich, respectively. The two join British operator EE, which announced a test in London's startup cluster Tech City earlier this month.

All three are taking advantage of a feature called carrier aggregation to improve speeds. It allows networks to devote more resources to some users by treating two channels in the same or different frequency bands as if they were one. The amount of frequencies used decides the maximum bandwidth. EE is using two times 20MHz to reach 300Mbps, while Vodafone and Telefónica are using one 10MHz channel plus one 20MHz channel for up to 225Mbps. 


Read more: LTE-Advanced tests in Europe push wireless speeds | TechHive

Russia: Boeing plane crashes in Russia, 50 on board killed - by Jim Heintz

A Boeing 737 jetliner crashed and burst into flames Sunday night while trying to land at the airport in the Russian city of Kazan, killing all 50 people aboard in the latest in a string of deadly crashes across the country.

The Tatarstan Airlines plane was trying to make a second landing attempt when it touched the surface of the runway near the control tower, and was ‘‘destroyed and caught fire,’’ said Sergei Izvolky, the spokesman for the Russian aviation agency.

The Emergencies Ministry said there were 44 passengers and six crew members aboard the evening flight from Moscow and all had been killed. Kazan, a city of about 1.1 million and the capital of the Tatarstan republic, is about 720 kilometers (450 miles) east of the capital.

The ministry released a list of the dead, which included Irek Minnikhanov, the son of Tatarstan’s governor, and Alexander Antonov, who headed the Tatarstan branch of the Federal Security Service, the main successor agency to the Soviet-era KGB.

Some Russian air crashes have been blamed on the use of aging aircraft, but industry experts point to a number of other problems, including poor crew training, crumbling airports, lax government controls and widespread neglect of safety in the pursuit of profits.

The Emergencies Ministry released photographs from the nighttime scene showing parts of the aircraft and debris scattered across the ground. Ambulances lined up in front of the airport building.

Read more: Boeing plane crashes in Russia, 50 on board killed - Europe news - Boston.com

11/16/13

Who are the richest people in the Netherlands? - by Alexandra Gowling

Dutch magazine Quote has released its 2013 edition of the richest 500 people in the Netherlands, which shows that their total wealth has gone up by 7 billion euros since last year. That is a 6,14 per cent increase, to a total of 113,1 billion euros.

There are now 20 billionaires on the list, with last place held by DJ Tiësto with 54 million euros. Last year, the 500th spot was acquired for 50 million euros.

Read more: Who are the richest people in the Netherlands? | Dutch News

EU still wrangling over banking union

The European Union is still treading water on the thorny issue of a community-wide banking union. EU finance ministers, gathered once again in Brussels, aren't making any decisions; instead, they're just repeating well-worn positions that haven't change in months.

According to EU diplomats, that is the fault of the German government, which is unwilling to shift its ground while coalition negotiations over the next new government are still going on in Berlin.

But Germany's incumbent Finance Minister Wolfgang Schäuble, of Angela Merkel's conservative Christian Democratic Union, has another view: "The German government is fully capable of acting," he said, because all the parties in the country's future government agree on European policy.

EU still wrangling over banking union | Europe | DW.DE | 15.11.2013

11/15/13

Health Care USA: Best health care system? Really, John Boehner? - by Maggie Fox

House Speaker John Boehner trashed president Obama’s health care plan again Thursday, accusing him of wrecking the world’s best health care system.

“This is going to destroy the best health care delivery system in the world,” Boehner said Thursday morning before President Obama announced a plan to fix the fallout over canceled health insurance policies.
But is it really?

Two studies out this week — and studies going back 15 years or longer — show quite the opposite. Americans pay more per capita for health care than people in any other industrialized country. In return, we are sicker, die younger and are unhappier with the system.

The Commonwealth Fund, which does research on health care and health reform, has shown year after year in its regular surveys that Americans spend a lot more on health care than anyone else. Right now it’s $2.7 trillion a year — that’s $8,508 a head, compared to $5,669 per person in Norway and $5,643 in Switzerland, the next-highest-spending countries. New Zealanders spend just $3,182 per person.

And Americans aren't getting more or better care for that money. The U.S. has the eighth-lowest life expectancy in the Organization for Economic Co-operation and Development, which groups developed nations.

In the latest survey of more than 20,000 people from Australia, Canada, France, Germany, the Netherlands, New Zealand, Norway, Sweden, Switzerland, Britain and the U.S., Commonwealth researchers found that 37 percent of Americans went without recommended care, did not see a doctor when sick, or failed to fill prescriptions because of costs, compared to as few as 4 percent to 6 percent in Britain and Sweden.

And 23 percent of U.S. adults either had serious problems paying medical bills or were unable to pay them, compared to fewer than 13 percent of adults in France and 6 percent or fewer in Britain, Sweden, and Norway, Commonwealth reported Wednesday in the journal Health Affairs.

More than 40 percent of U.S. adults said they spent $1,000 or more out-of-pocket for care in the past year, by far the highest rate of any country surveyed.

Most — 75 percent —of the 2,000 or so U.S. adults surveyed said the health system needs fundamental changes or to be rebuilt. Just half of Dutch and Swedish people did, while 63 percent of Britons said their system works well and only needs minor changes.

“The U.S. spends more on health care than any other country, but what we get for these significant resources falls short in terms of access to care, affordability, and quality,” said Dr. David Blumenthal, president of the Commonwealth Fund,

Americans also wait longer to see primary care doctors; 76 percent in Germany said they could get a same or next-day appointment, and 63 percent in the Netherlands, compared to 48 percent in the U.S. Only Canada scored worse, with 41 percent saying they could.

And the U.S. has more patients than anywhere else using the emergency room. A full 48 percent of Americans said they had used the ER in the past two years, compared to 31 percent in France and 22 percent in Germany and Australia.

Even the U.S. Institute of Medicine says U.S. health care is a mess, with tens of thousands of Americans dying from medical errors and drug overdoses, and with the system wasting $750 billion in 2009.

And on Tuesday, a report in the Journal of the American Medical Association looked at improvements in the U.S. health care system. The upshot? They’re not really keeping up with the rest of the world.

Best health care system? Really, John Boehner? - NBC News.com