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U.S. Security Issues Trip Up Some Foreign Investment - NYTimes.com
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“Foreign investments in the U.S. are critical to economic growth and job creation here at home, but we have an obligation to prioritize national security,” the deputy Treasury secretary, Neal S. Wolin, said in a statement released Thursday, in response to questions about the scrutiny of proposed deals.
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Op-Ed Contributor - The Department of Lucrative Athletics - NYTimes.com
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The rise of College Sports Inc. didn’t happen by accident. Administrators at many universities have allowed athletic departments to operate independently, like stand-alone entertainment divisions. They have separate budgets, negotiate their own TV deals and, in some cases, employ hundreds of coaches and staff. And as long as they continue to collect ever-larger sums from ticket sales, boosters and television, who is going to tell them to spend less?
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Op-Ed Contributor - A Growing Disaster - NYTimes.com
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That problem is simple: Ethanol prices trend higher and lower along with the price of gasoline, yet the cost of producing ethanol tends to rise with demand, since higher ethanol production exerts upward pressure on the price of corn. In a free market, corn prices might be expected to eventually fall as the market adjusts to increased demand. But because the government heavily promotes ethanol use through subsidies and regulation, the market is continually strained.
The problem is magnified because corn is a water- and fertilizer-intensive crop that requires considerable investment. Worse, since fertilizer is often an oil-based product, the cost of growing corn tends to rise at the very moment ethanol prices, which rise with oil prices, might bring a good return.
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Dubai World Standstill News Hits Regional Confidence - WSJ.com
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"The most negative effect of [the] announcement is a major shock to confidence in the U.A.E. and the region more generally," said Richard Fox, a credit analyst at Fitch Ratings in London. "People will now question government support."
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Among the international banks that have large exposure are the U.K.'s Royal Bank of Scotland Group PLC, HSBC Holdings PLC, Barclays PLC, Lloyds Banking Group PLC, Standard Chartered PLC and ING Groep NV of the Netherlands, the person said.
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Editorial - Puppets in Congress - NYTimes.com
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As Robert Pear reported in The Times on Sunday, statements inserted into the official record by more than a dozen lawmakers were ghostwritten, in whole or in part, by lobbyists working for Genentech, a large biotechnology company that expects to prosper under some of the provisions in the reform legislation. The company estimates that 22 Republicans and 20 Democrats picked up some of its talking points.
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FT.com / US / Politics & Foreign policy - US military supplier accused of prices fraud
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Unsealing a 60-page federal grand jury indictment against the Kuwait-based group the Public Warehousing Company, the US Department of Justice accused it of six counts of conspiracy concerning “multibillion-dollar contracts issued by the Department of Defense for feeding American troops in Iraq, Kuwait and Jordan”.
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The group is now branded as part of a larger company, Agility, which this month won a $50m contract to manage food aid for the US Agency for International Development.
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Bernanke Expresses Concern About Dollar’s Weakness - NYTimes.com
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The chairman of the Federal Reserve, Ben S. Bernanke, warned on Monday that high unemployment and a continued reluctance of banks to make loans were likely to slow the economic recovery for the next year.
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African Official Retains American Access - NYTimes.com
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Susan Pittman, a spokeswoman for the Bureau of International Narcotics and Law Enforcement in the State Department, said she was prohibited from discussing specific visa decisions. But other former and current State Department officials said that Equatorial Guinea’s close ties to the American oil industry were the reason for the lax enforcement of the law. Production of the country’s nearly 400,000 barrels of oil a day is dominated by American companies like ExxonMobil, Hess and Marathon.
“Of course it’s because of oil,” said John Bennett, the United States ambassador to Equatorial Guinea from 1991 to 1994, adding that Washington has always turned a blind eye to the Obiangs’ corruption and repression because of its dependence on the country for natural resources.
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“We just seem to lack the backbone to use this prohibition,” Mr. Whitman said.
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Illicit Money: Can It Be Stopped? - The New York Review of Books
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But the administration is largely missing a far more devastating problem related to offshore finance:
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Illicit money is usually generated by one of three kinds of activities: bribery and theft; organized crime; and corporate dealings such as tax evasion and false commercial transactions.
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