Archive for May 3rd, 2011

May 3, 2011

Deutsche bank in $1 billion sting, claims US Government

[Bjorn Schroeder, Global Finance News Contributor]

BBC News: It seems that after just stemming the tide of harsh criticism after a recent adverse German Federal Court of Justice ruling that the bank had acted dishonestly towards its German customers, one of the world’s leading banks, Deutsche Bank, is under legal crossfire again, as the US Justice Department is claiming more than $1 billion (£600 million) from it in the US Supreme Court in compensation for ‘defrauding the US government’.

The US Goverment is saying that Deutsche Bank’s MortgageIT subsidiary gave intentionally false information to US authorities to get Federal Housing Administration (which is the federal US mortgage insurer) to cover its loans without doing due diligence on bank’s clients’ solvency.

The lawsuit is one of the first but most likely not the last in the row of US Government‘s actions against unfortunate mortgage lenders within the light of the globally declining real estate market and the growing number of bad loans.

May 3, 2011

Hackers wage war on Sony and make off with another 25 million users’ credit card details

[Ivichi Buchwa, Internet News Contributor]

New Statesman: Sony has been hacked again. This time the hackers mauled its ‘outdated database’ and made off with 25 million of Sony’s users’ names, credit card details, home addresses, date of birth and phone numbers.

Since then, an angry and frustrated Sony has de-activated its Online Entertainment service. Two weeks earlier, the media giant had been hacked when its  Playstation Network was ravaged by cyberbandits who had stolen details of 77 million of its users.

The latest hack, which took place this week, compromised PC and Facebook users. Direct debit data of well over 10,000 Austrian, Spanish, Dutch and German customers, plus 12,000 non-US users, were siphoned off too.

The company is hopping mad about the breaches, but so far does not appear to have an effective plan to stop them.

May 3, 2011

G20 Protester, Ian Tomlinson, gets justice after his unlawful killing by UK Police

 

[Samuel Evans, UK  News Contributor]

New Statesman: The jury giving the verdict upon the death of Ian Tomlinson, who had been knocked to the ground in an unprovocked attack by the British police during the G20 protests in London in 2009, has concluded that he had been unlawfully killed.  The not-totally-unexpected verdict has made many red faces in the UK Crown Prosecution Service which had decided earlier that there had been no case to answer upon the circumstances of Mr. Tomlinson’s death.

In a blistering attack upon the British police involved in anti-protest control, the jury concluded that it was ‘sure’ that the action of the policeman causing Mr. Tomlinson’s death, was: “excessive and unreasonable…[that Tomlinson had] posed no threat” to the police.

The policeman, PC Harwood, who had been instrumental in the death of Mr. Tomlinson, first said at the hearing that Tomlinson had been obstructing police and had refused to move away at which point, he had  “engaged” him. However, after the evidence had been considered, he agreed that Tomlinson had been obeying officers and had his back turned when he had struck him violently with a baton.

May 3, 2011

US lawyer, John J Maalouf of New York City, achieves national award for excellence for the sixth year running

[US Law & Courts Contributor, Dr. Edward Lestrade]:  John J Maalouf is a US lawyer to reckon with for setting the highest standards possible for delivery excellence in the international trade and financial services industry in the USA.  That is because, for the sixth year running John has won the distinction of being in the top ten international trade and finance lawyers in the USA according to United States Lawyer Rankings.

John’s dedication to quality of service to all clients, small, or large, has earned him a reputation that only few in his demanding field are able to achieve consistently.  He is also a registered arbitrator of the Online International Arbitration Court (‘OIAC’) which operates out of Wyoming and provides commercial disputes settlement by mediation and arbitration 100% online.

Complimenting his personal high standards of delivery, John’s law firm, Maalouf Ashford & Talbot, has been recently being named “Oil & Gas Law Firm of the Year” for 2010 by Corporate International Magazine in New York.  The firm operates throughout the USA and internationally and represents some large reputable clients in high-profile matters concerning international mergers and acquisitions, public offerings, private equity, oil & gas transactions and cross-border deals in China and the Middle-East.

May 3, 2011

Bad news for celebrities as study finds that fat removed by liposuction grows back within a year in other places

[Joan Kidlingon, Health and Safety Contributor]

MailOnline: Just having saved up the £6000 to get my tummy fat sucked off, the devastating news that liposuction not only will make other parts of my body fatter, but will probably make me fatter all over, is not welcome!

A recent study by researchers at the University of Colorado found that fat removed by liposuction tended to come back to the upper abdomen, around the shoulders and triceps. As the liposuction procedure damages the underlying skin structure, the fat cells removed do not grow back in the same place, but the body compensates by rapidly growing fat cells elsewhere in the body.

Sadly, fat cells are not our friends. Although they live for only seven years, each time one dies, another one promptly takes its place.

The research was carried out on 32 healthy women in their mid-30s of average weight. Fourteen of then had been selected at random to have some of their fat removed by liposuction, mainly from their hips and thighs. The remaining women acted as ‘controls’ and did not have the procedure.
Thereafter, the women were measured at intervals of six weeks, six months and one year.   The six week’s measurement showed that the women who had the procedure had lost 2.1 per cent of fat. Those who had not, had lost 0.28 per cent. But after one year, the women were equally as fat. For the women who had the procedure, the fat had returned to other places in their bodies (eg., thigh to belly).

In the UK and USA, more than 450,000 liposuctions happen every year at an average of around £5000 per procedure. Liposuction involves a surgical process whereby a tube attached to a vacuum pump is put under the skin and fat is scraped out at the same time.