India confirms suspension of retail reform
India's parliament has resumed after the government confirmed that it was suspending a plan to open up the retail market to global supermarkets.
The decision has been suspended "till a consensus is developed through consultation among various stakeholders", a statement said.
The parliamentary session was deadlocked for two weeks after the opposition parties protested the move.
The decision to allow foreign chains into India has been fiercely opposed.
Critics say the move will destroy millions of jobs and businesses in the small retail sector.
Supporters say it will widen consumer choice, reduce waste and improve security for farmers.
Finance Minister Pranab Mukherjee told the parliament on Wednesday that the government would "take a decision [on retail reform] after a consensus is developed after consultations with all stakeholders".
The stakeholders include chief ministers of states and all the political parties, he said.
Mr Mukherjee hoped that the parliament would begin functioning "as only 10 days are left for the session to end".
'Virtual rollback'
Earlier on Wednesday, the government confirmed at an all-party meeting that the controversial retail reform was being put on hold.
"It is a virtual rollback. It is a victory for democratic forces," said Gurudas Dasgupta of the Communist Party of India (CPI) who attended the meeting.
However, Minister of Renewable Energy Farooq Abdullah said a decision on retail reform had only been suspended, and there had "been no rollback".
Analysts say the decision is a blow to the government's image, and wonder why it did not evolve a consensus before announcing the move.
"The prime minister's image and the government's image will be definitely dented," said Neerja Chowdhury, a senior journalist.
Business leaders have criticised the opposition to retail reform.
In an open letter, former Hindustan Unilever chairman Ashok Ganguly and Deepak Parekh, chairman of the Housing Development Finance Corporation, said opposing the reform was "to the detriment of the vast majority".
The government announced on 24 November it would allow 51% foreign ownership of multi-brand retail stores, allowing groups like Wal-Mart and Tesco to open stores.
Currently, foreign-owned multi-brand retail operators can only sell wholesale in India, not directly to customers.
Citigroup to cut 4,500 jobs worldwide
US banking giant, Citigroup, has said it is to cut 4,500 jobs around the world in an effort to reduce its costs.
The group has put aside $400m (£250m) to pay for the cuts, according to its chief executive Vikram Pandit.
The money will be written down in the company's fourth quarter results.
It is the latest in a string of global banks to announce cuts as the slowdown in the world economy and the European sovereign debt crisis has increased pressure on banks to limit costs.
They include Citygroup rivals such as HSBC, Bank of America and UK-based Lloyds.
Speaking at the Financial Services Conference hosted by Goldman Sachs in New York, Mr Pandit said his bank had saved more than $1.4bn so far this year.
China Rescues 178 Children in Massive Child Trafficking Case
Chinese police say they have rescued 178 children and arrested 608 suspects in a crackdown on suspected human trafficking gangs.
China's public security ministry said Wednesday that over 5,000 police officers made the arrests last month during a joint operation in 10 different provinces across China.
Police first uncovered a child trafficking group in the southwestern province of Sichuan while investigating a traffic accident in May. Authorities later found a similar group in the southeastern province of Fujian.
China has a thriving black market in children and women. Observers say China's one-child policy and lax adoption rules help set the stage for a rampant child market, mostly involving buyers who want more children or who want them as slave labor.
The state-run news agency Xinhua says national police have broken up over 7,000 human trafficking groups since 2009, involving more than 18,000 children and 34,000 women.
India Suspends Plan to Allow Foreign Retailers
India's government has suspended a plan to open the country's retail sector to foreign companies, following weeks of protests that have brought parliament to a halt.
The government said Wednesday the plan will remain on hold until the stakeholders can reach a consensus.
Opponents say allowing foreign retail chains, such as Walmart, will threaten the survival of millions of small shop owners in the country. Shopkeepers held a one-day strike last week to protest the plan.
Industry leaders share the government's view that modernizing India's retail sector will benefit farmers and consumers, while creating millions of jobs.
India's $450-billion domestic retail market is dominated by family-run stores, and global retail companies have waited for years for India to allow them to operate in the country.
The government plan called for allowing foreign firms to own up to 51 percent of so-called multi-brand retail companies in India, such as supermarkets. Companies could also own up to 100 percent of stores that sell just one brand of a product.
The stores would be allowed in cities with a population of at least 1 million people.
Obama in Kansas slams Republicans over inequality
US President Barack Obama has drawn a clear distinction between Democratic and Republican economic arguments in a rare address in the state of Kansas.
In Osawatomie, he echoed President Theodore Roosevelt, who spoke there in 1910, saying the US faced a "make-or-break moment for the middle class".
Mr Obama's remarks come less than month before the first Republican vote to choose a presidential nominee, in Iowa.
A Republican spokeswoman said Mr Obama was "desperately trying new slogans".
While Mr Obama has spent recent months touring the US calling for the passage of his American Jobs Act, the Kansas speech saw him depart from the specifics of that legislative plan
Instead the president offered a broader critique of key Republican ideas on how the economy can be revitalised.
"Their philosophy is simple: we are better off when everyone is left to fend for themselves and play by their own rules. Well, I'm here to say they are wrong," Mr Obama said.
'Gaping inequality'
Making his first visit as president to Kansas - a solidly Republican state in recent presidential elections - Mr Obama slipped up right at the start of his remarks.
"It's great to be back in the state of Texas," he said, before correcting himself and using the first part of his speech to focus on his own family's Kansas roots.
While he did renew his call for Congress to pass an extension of a payroll tax cut due to expire at the end of 2011, the speech also focused on growing levels of income inequality in the US.
"This kind of gaping inequality gives lie to the promise at the very heart of America: that this is the place where you can make it if you try," Mr Obama said.
Such inequality "distorts our democracy", he told those listening at a local high school.
In a nod to the language of the Occupy Wall Street movement - if not to its argument - Mr Obama told Kansas supporters that sharing responsibilities for the economy's success were not "1% values or 99% values".
"Most of the Republicans in Washington have refused, under any circumstances, to ask the wealthiest Americans to go to the same tax rates they were paying when Bill Clinton was president," he said.
Mr Obama did not limit his criticism solely to current economic debates, reaching back to the "trickle-down" theory that has long been used to rationalise tax cuts for the wealthy.
He described the idea as fundamentally flawed.
"It doesn't work. It's never worked. It didn't work when it was tried in the decade before the Great Depression," Mr Obama said, "It's not what led to the incredible post-war boom of the 50s and 60s. And it didn't work when we tried it during the last decade."
Republicans criticised Mr Obama on his attempts to tie the speech back to Theodore Roosevelt, saying that the 1910 speech was also about failed promises in politics and Mr Obama had failed to rebuild the economy.
In addition to his indictment of Republican economic principles, Mr Obama called for legislation that would create stronger penalties for financial firms that repeatedly violate anti-fraud laws.
Chinese, US Defense Officials Meet in Beijing for Annual Talks
U.S. and Chinese defense officials are meeting in Beijing for the first high-level talks since bilateral relations were strained by an American arms sale to Taiwan and the announcement of a U.S. plan to deploy troops in Australia.
U.S. Under Secretary of Defense for Policy Michel Flournoy opened the annual talks Wednesday with China's deputy chief of the army's general staff, Ma Xiaotian.
They are the first ministry-level talks since September, when the U.S. angered China by announcing a $5.85 billion upgrade to Taiwan's Air Force.
In November, U.S. President Barack Obama announced plans to deploy up to 2,500 troops in Australia to boost regional security and counter Chinese regional influence – a move China has suggested is “inappropriate.”
This is the 12th round of the U.S.-China Defense Consultative Talks, which usually provide an indication of the health of relations between the two countries. China routinely breaks military relations with the U.S. to protest policies it dislikes.
Analysts says China's decision to proceed with this year's talks, even after the Taiwan arms deal, may indicate that it views a suspension of military ties as unprofitable to its interests.
China considers Taiwan a renegade province, and has warned of possible military force against the island if it formally declares independence.
The United States is obligated by law to provide Taiwan with weapons for its defense.
China's state-run Xinhua news agency says the talks will cover bilateral military relations, the U.S. arms sales to Taiwan, as well as various regional issues.
In opening remarks for the one-day summit, Xinhua reports that Ma said he hopes both sides will be able to “expand common ground, keep risks under control and avoid misjudgment.”
Male found floating in the water off Ocean Club West Resort, Grace Bay,
On Monday 5th December 2011 at approximately 6:55am a deceased African-American male was found floating in the water off Ocean Club West Resort, Grace Bay, Providenciales. An autopsy is being performed to ascertain the cause of death.
The identity of this deceased male is unknown. The deceased male is described as approximately 5’ 9”, 190-200lbs, medium built, short hair and round face.
The Police are asking for the public’s assistance as it relates to this incident. Anyone who can assist in identifying this person or has any knowledge of the circumstances which may have lead to this outcome are asked to contact the Police at one of the following numbers 946-4259, 999, or through Crime Stoppers at 1-800-TIPS (8477) or through a web tip on www.crimestoppers.tc or as a friend of crime stoppers Turks and Caicos on Facebook.
Police investigates robbery
The Police in Grand Turk are investigating a robbery which occurred around 8:15pm on Saturday 3rd December 2011 at Tequila Bar on Saunders Pond West Road, Grand Turk.
During that robbery a masked male discharged a firearm which resulted in a male patron receiving a superficial wound over his right eye. The male patron was treated for his non-life threatening injury at the Cockburn Town Medical Centre Grand Turk and was later released. An amount of monies was stolen during this robbery.
The investigation is continuing and the Royal Turks and Caicos Police and are seeking the public’s assistance in obtaining any information as it relates to this incident. Contact can be made via the Police at 911, Crime Stoppers at 1-800-TIPS (8477), or through a web tip on www.crimestoppers.tc or as a friend of crime stoppers Turks and Caicos on Facebook.
Pakistani actress nude pose sparks controversy
A Pakistani actress who posed in the nude for an Indian magazine with the initials of Pakistan's feared and powerful intelligence agency on her arm has triggered fury across this conservative nation.
Veena Malik's photo on the website of FHM India, in advance of its publication in the magazine's December issue, has been lighting up social network websites since earlier this week.
Many here anticipate a backlash, as nationalists and Islamists regularly stage rallies against anything they deem an insult to Islam or to the national honour. India and Pakistan have fought three wars, and the Inter-Services Intelligence agency, or ISI, has been accused of sponsoring terrorist attacks inside India.
Malik has broken Pakistani religious and national taboos in the past. She is a target for conservative ire and a heroine to some Pakistani liberals.
Legal action
Conservative cleric Maulana Abdul Qawi declared on Aaj TV on Saturday that her latest venture into controversy was a "shame for all Muslims".
In an interview with Pakistani Geo television broadcast Saturday, however, Malik said the nude photo was published in violation of her agreement with FHM India and she was considering legal action against the magazine.
Malik acknowledged having been photographed for a "bold but not nude shot". She said the editor of the magazine had promised that he would cover most of the photo with the ISI initials.
The photo was intended to poke fun at the Indian fear of Pakistani spies, she said, adding "whatever happens (in India), people say ISI is behind that".
Bob Marley family sues his half brother for infringement rights
Reports are that , Rita Marley and the entire Marley clan have filed a federal lawsuit against Richard Booker, the half brother of Bob Marley, for infringement and unauthorized use of the "Marley" name
According to TMZ.com Richard is has trademark "Mama Marley" to operate a business with the name selling everything from concerts to fish, poultry, energy drinks and booze.
The family is asking the Judge to stop Booker for using the Marley's name in the future and that the profits from all items sold be given to them, since they have rights to the everything "Marley"
In the lawsuit, it claims Booker is using Marley's name and image to market an annual concert the 9 Mile Music Festival, which takes place in Miami, which ironically will be headline by Stephen, Damian and Julian Marley.
TMZ