Thursday, October 25, 2012

Dirty money cost China $3.8 trillion 2000-2011: report

WASHINGTON, Oct 25 (TrustLaw) - China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report.

And the outflow - much of it from corruption, crime or tax evasion - is accelerating. China lost $472 billion in 2011, equivalent to 8.3 percent of its gross domestic product, up from $204.7 billion in 2000, Global Financial Integrity, a research and advocacy group that campaigns to limit illegal flows, said in a report on Thursday.

"The magnitude of illicit money flowing out of China is astonishing," said GFI director Raymond Baker. "There is no other developing or emerging country that comes even close to suffering as much in illicit financial flows."

The lost funds between 2000 and 2011 significantly exceeded the amount of money flowing into China as foreign direct investment. The International Monetary Fund calculated FDI inflows at roughly $310 billion between 1998 and 2011.

Illicit capital flows rob a government of tax revenues and potential investment funds. Capital flight on this scale can be politically destabilizing by allowing the rich to get richer through tax evasion, GFI said.

China has a low level of tax collection given the size of its economy, according to the IMF. Beijing has recognized that corruption and bribery is a significant problem, an issue brought into sharp focus recently by the Bo Xilai scandal. The country has announced a major crackdown as it prepares for its once in a decade leadership transition.

GFI calculates how much money leaks out of a country unchecked by analyzing discrepancies in data filed with the IMF on import and export prices between trade partners and calculating discrepancies in a country's balance sheet.

The developing world overall lost $903 billion in illicit outflows in 2009, with China, Mexico, Russia and Saudi Arabia in that order showing the largest losses, it said.

Trade mispricing was the major method of smuggling money out of China, accounting for 86.2 percent of lost funds, the GFI report found. This scheme involves importers reporting inflated prices for goods or services purchased. The payments are transferred out and the excess amounts are deposited into overseas bank accounts.

Trade mispricing is most common for nuclear reactors, boilers, machinery and electrical equipment, the report said.

The bulk of the money ends up in tax havens - on average, 52.4 percent between 2005 and 2011. Much of this money eventually makes its way back to China as foreign direct investment for a double hit to the economy.

FDI benefits from special tax breaks and subsidies, essentially setting up an elaborate form of money laundering for Chinese businesses, GFI added.

(Reporting By Stella Dawson. Editing by Andre Grenon)

Source: http://news.yahoo.com/dirty-money-cost-china-3-8-trillion-2000-235134873--sector.html

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Romney raised $111.8 million in first half of October

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Source: http://news.yahoo.com/romney-raised-111-8-million-first-half-october-160942163.html

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Unmasking the deadly secrets of pancreatic cancer

ScienceDaily (Oct. 24, 2012) ? A large-scale study that defines the complexity of underlying mutations responsible for pancreatic cancers in more than 100 patients was published in the journal Nature.

The analysis represents the first report from Australia's contribution to the International Cancer Genome Consortium (ICGC), which brings together the world's leading scientists to identify the genetic drivers behind 50 different cancer types.

Professor Sean Grimmond, from the Institute for Molecular Bioscience (IMB) at The University of Queensland, and Professor Andrew Biankin, from The Kinghorn Cancer Centre at Sydney's Garvan Institute of Medical Research led an international team of more than 100 researchers that sequenced the genomes of 100 pancreatic tumours and compared them to normal tissue to determine the genetic changes that lead to this cancer.

Pancreatic cancer has the highest mortality rate of all the major cancers and is one of the few for which survival has not improved substantially over the past 40 years.

It is the fourth-leading cause of cancer death.

"We found over 2000 mutated genes in total, ranging from the KRAS gene, which was mutated in about 90 per cent of samples, to hundreds of gene mutations that were only present in 1 or 2 per cent of tumours," Professor Grimmond said.

"So while tumours may look very similar under the microscope, genetic analysis reveals as many variations in each tumour as there are patients.

"This demonstrates that so-called 'pancreatic cancer' is not one disease, but many, and suggests that people who seemingly have the same cancer might need to be treated quite differently."

Professor Biankin said such individual genetic diagnoses and treatments was the future of healthcare.

"In this study, we found a set of genes, the axon guidance pathway, that is frequently damaged in pancreatic cancer patients and is associated with a potentially poorer outcome for those patients," Professor Biankin said.

"It is a new marker of pancreatic cancer that can be used to direct prognoses and treatments.

"Personalised medicine', where the molecular profile of a patient is matched to the best treatment, is the way the world is moving for many diseases, not just cancer.

"The challenge now will be in moving from population healthcare and a 'one drug fits all' model to personalised healthcare. First we must take the time to develop the necessary genetic knowledge and implement health systems to translate that knowledge effectively."

Professors Biankin and Grimmond acknowledged the vital assistance of the Australian Pancreatic Cancer Genome Initiative, a network of more than 20 hospitals and research institutions Australia-wide, with over 200 members -- surgeons, pathologists, nurses and researchers -- that all contributed to the project (www.pancreaticcancer.net.au).

They also collaborated with colleagues from the Baylor College of Medicine and The Methodist Hospital Research Institute in Texas, the Ontario Institute for Cancer Research, Johns Hopkins University in Maryland, the University of California San Francisco, the University of Verona, the Cambridge Research Institute and the Sanger Centre in the UK.

The ICGC project is being funded through $27.5 million from the National Health and Medical Research Council of Australia (NH&MRC), its largest-ever single grant.

NHMRC Chief Executive Officer Professor Warwick Anderson said NHMRC was proud to have been the major funding contributor to this research.

"I am delighted that breakthroughs have been made in understanding the genetic basis of this disease," Professor Anderson said.

"This positive outcome is evidence of NHMRC supporting the very best research and researchers, and the importance of our involvement in strong national and international collaborations.

"The ultimate goal of our funding is healthier citizens, both in Australia and overseas, and this research will certainly lead to a better understanding of this issue."

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The above story is reprinted from materials provided by University of Queensland.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Biankin et al. Pancreatic cancer genomes reveal aberrations in axon guidance pathway genes. Nature, 2012; DOI: 10.1038/nature11547

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/Gpp6OW8Egn8/121025110223.htm

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Why Didn't Justin Timberlake Invite His *NSYNC Bandmates To His Wedding?

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    Justin Timberlake of 'N Sync takes aim at a 3-pointer during the pop band''s 'Challenge for the Children III' charity event at the Thomas & Mack Center in Las Vegas July 28, 2001.

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    Justin Timberlake of 'N Sync attends the 29th Annual American Music Awards at the Shrine Auditorium January 9, 2002 in Los Angeles, CA.

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    Singer Justin Timberlake attends the 2006 MTV Video Music Awards at Radio City Music Hall August 31, 2006 in New York City.

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    Justin Timberlake performs on stage at the 13th annual MTV Europe Music Awards 2006 at the Bella Center on November 2, 2006 in Copenhagen, Denmark.

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    Singer Justin Timberlake arrives at the 49th Annual Grammy Awards at the Staples Center on February 11, 2007 in Los Angeles, California.

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    Singer Justin Timberlake arrives at the 61st Primetime Emmy Awards held at the Nokia Theatre on September 20, 2009 in Los Angeles, California.

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    Singer/actor Justin Timberlake poses during the 67th annual Golden Globe Awards nomination announcement held at the Beverly Hilton Hotel on December 15, 2009 in Los Angeles , California.

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    Justin Timberlake presents the Audi A1 during the first press day at the 80th Geneva International Motor Show on March 2, 2010 in Geneva, Switzerland. The show features World and European premieres of cars and will be open to the public from March 4th to 14th.

  • Justin Timberlake

    Justin Timberlake attends the premiere of 'The Social Network' during the 48th New York Film Festival at Alice Tully Hall, Lincoln Center on September 24, 2010 in New York City.

  • Justin Timberlake

    Actor/musician Justin Timberlake attends the premiere of Warner Bros. 'Yogi Bear 3-D' at the Mann Village Theatre on December 11, 2010 in Westwood, California.

  • Justin Timberlake

    Actor/Musician Justin Timberlake arrives at the 83rd Annual Academy Awards held at the Kodak Theatre on February 27, 2011 in Hollywood, California.

  • Justin Timberlake

    Justin Timberlake attends the game between the Dallas Mavericks and the Los Angeles Lakers at Staples Center on May 2, 2011 in Los Angeles, California.

  • Justin Timberlake

    Actor Justin Timberlake attends the 'Friends with Benefits' premiere at the Ziegfeld Theater on July 18, 2011 in New York City.

  • Premiere Of Regency Enterprises' "In Time" - Arrivals

    Actor/Singer Justin Timberlake arrives at the Premiere of Regency Enterprises' 'In Time' at the Regency Village Theater on October 20, 2011 in Westwood, California.

  • Justin Timberlake

    Justin Timberlake attends the 'Time Out' Photocall at Hotel Bristol on November 4, 2011 in Paris, France.

  • Justin Timberlake

    Justin Timberlake attends the UK Premiere for 'In Time' at The Curzon Mayfair on October 31, 2011 in London, England.

  • Justin Timberlake

    Justin Timberlake attends the UK Premiere for 'In Time' at The Curzon Mayfair on October 31, 2011 in London, England.

  • Justin Timberlake

    Actor Justin Timberlake poses as he arrives for the UK premiere of 'In Time' at the Curzon on October 31, 2011 in London.

  • Justin Timberlake

    Actor Justin Timberlake arrives at the premiere of Regency Enterprises' 'In Time' on October 20, 2011 in Westwood, California.

  • Justin Timberlake

    US actor, Justin Timberlake poses during a photocall as part of the presentation of the movie 'Time out' in which he is starred. 'Time Out', directed by US Andrew Niccol will be released on French screens on november 23, 2011.

  • Justin Timberlake

    Singer Justin Timberlake attends the GQ 'Men of the year' party at the Chateau Marmont, in Hollywood, California, on November 17, 2011.

  • Justin Timberlake

    Recording artist/actor Justin Timberlake appears during a Panasonic press event to announce Myspace TV, a social TV service that will be available on Panasonic connected televisions, at The Venetian for the 2012 International Consumer Electronics Show (CES) January 9, 2012 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs from January 10-13 and is expected to feature 2,700 exhibitors showing off their latest products and services to about 140,000 attendees.

  • Source: http://www.huffingtonpost.com/2012/10/23/justin-timberlake-wedding-nsync-not-invited_n_2006503.html

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    2012 College Football Week 8 SEC Review: Florida, Mississippi State, Alabama, LSU and More

    Ranking those who carried on while others around them were crushed by failure and/or incompetence.

    1.? Will Muschamp
    While OVERCOMING ADVERSITY ON THE FIELD, Muschamp's team crushed one of two remaining threats to his trip to Atlanta and brought national attention to voice immodulation.

    2.? Dan Mullen
    Unlike a certain team also within the state of Mississippi (and not the one where the quarterback's mother gets arrested at the game), who has often said, "If we can just get to the Alabama game undefeated", Mullen got his team to 7-0 heading into the Alabama game and won a Sun Belt crown along the way (NEVER GONNA STOP).

    3.? AJ McCarron
    With an assist to the Tennessee defense, but McCarron made the throws that were open and now has some Heisman WE DON'T TALK LIKE THAT AT ALABAMA RESPECT OPPONENTS AND PLAY SLOWER.

    4.? Florida defense
    Yet another offense ground into a fine paste by the Gators, making Connor Shaw and Dylan Thompson look worse than Zach Mettenberger against them.

    5.? LSU defense
    From now on, every LSU quarterback should be forced to wear number 9 until he proves that he is not Jordan Jefferson or worse.

    6.? Morgan Newton
    He threw and ran for a TD, while causing only incomplete pass damage to his team.

    7.? Zac Stacy
    You've just read the name of Vanderbilt's all-time leading rusher and assistant in the eventual firing of Gene Chizik.

    8.? Bye Weeks
    An entire Saturday with no stress, frantic pacing, and shouting at inanimate objects.

    9.? Tyler Russell
    15 touchdowns and only 1 interception.? The pace of play is about to jump up a notch, but those are the kind of numbers you put up against bad defenses.

    10.? Aaron Murray
    There's nothing like a helping of Kentucky defense to get your mind right.? Ignoring the South Carolina disaster, Murray is completing nearly 71% of his passes.

    JEFFERSON PILOT POWER POLL OF FAILURE
    Ranking those who collapsed under the weight of their incompetence and/or lack of skill

    1.? Gene Chizik
    What's even worse than being reduced to the strategy of trying to hang around late against Vandy and steal a win is that said strategy did not work.

    2.? Connor Shaw
    There is no greater signal to fans that you're about to get your teeth kicked in when your quarterback fumbles on the first play of the game and the other team recovers it on the two.

    3.? Tyler Bray
    Right now, Bray would probably give all the thrown beer bottles in the world for a citation-free afternoon of violating most of the state of Tennessee's personal watercraft laws.

    4.? Johnny Manziel
    Luckily for A&M fans, Manziel is probably only going to try the across-the-body pass another 10-15 times in his career, so you should feel the stress melting away right now.

    5.? Dylan Thompson
    The good news for Shaw and Thompson is that since they both were awful, Spurrier doesn't have enough time to let them know of their failure as much as he wants to do.? There's only so much time in each day and driving range.

    6.? Will Muschamp/Mark Richt
    Forced to spend an entire Saturday in Jacksonville.

    7.? Georgia fans
    Again, forced to spend a weekend in Jacksonville, and have not rioted in Athens to get this game moved back to a campus-only event.? WHO WILLINGLY THROWS AWAY A CONFERENCE HOME GAME EVERY OTHER YEAR?

    8.? The lady sitting next to me on the plane from Memphis to Austin
    This happened a few weeks ago, but I just remembered it, so now you're gonna hear about it.? Unsolicited, I repeat and stress, UNSOLICITED, I was told of her son-in-law's (I think), who is a lawyer, arrest in some sort of drug distribution ring and details related to that.? Then, after I opened my book and began reading, I got questions about what I do and whatnot.? I should have said I listen to people's terrible stories then publish them on the Internet.

    9.? Morgan Newton
    A 0.7 yards per pass attempt cannot go unrecognized.

    10.? Nick Saban
    PAAAAWWWLLLLL, GIVIN' UP A FIELD GOAL THAT LATE IN THE FOURTH QUARTER?? THAT'S GOT TO GET FIXED BECAUSE THERE CAN'T BE NONE OF THAT IN THE SOUTHERNEASTERN CONFERENCE.

    Related Content

    From The Weekend That Was: Mississippi State Crowned Sun Belt Champs Edition

    A Look Into The Future

    Week 8 Picks

    Ole Miss' Wilderness Status

    Source: http://www.opposingviews.com/i/sports/ncaa-football/sec/2012-college-football-week-8-sec-review-florida-mississippi-state-alabama

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