Reuters reports, President Barack Obama voiced doubt on Tuesday on the prospects for progress with Moscow on missile defense, until after the November U.S. election, as he defended remarks caught on camera the day before, with Russian President Dmitry Medvedev. Obama was overheard assuring Medvedev on Monday, that he would have “more flexibility” to deal with contentious arms-control issues, after the November 6th presidential ballot, drawing sharp criticism back home, from his Republican opponents. Obama urged Moscow to give him “space” until after the U.S. election and Medvedev said, he would relay the message to incoming Russian president Vladimir Putin, who takes over at the Kremlin in May. The unusual exchange came as Obama and Medvedev huddled together on the eve of the summit, unaware their words were being picked up by microphones, as reporters were led into the room. As he was leaning toward Medvedev in Seoul on Monday, Obama was overheard asking for time – “particularly with missile defense” – until he is in a better position politically to resolve such issues. “This is my last election … After my election I have more flexibility,” Obama said, expressing confidence that he would win a second term.
The Wall Street Journal reports, two major energy companies are planning to build new pipelines that will move as much as 850,000 barrels of crude oil a day from Canada to refineries along the Gulf Coast by mid-2014, in the latest effort to cope with a surge of oil production in North America. The separate projects, planned by Enterprise Products Partners and Enbridge, will compete with TransCanada’s proposed Keystone XL pipeline, a massive project to move crude from the oil sands of Alberta to U.S. refineries.
The Wall Street Journal also reports, the head of a Tokyo asset manager alleged to have lost $1.3 billion in client money admitted wrongdoing for the first time Tuesday, saying that the company had falsified the investment performance of its funds to hide trading losses. The admission follows a raid by securities regulators on AIJ’s headquarters in central Tokyo last week after the company said it couldn’t account for most of the pension money it managed.
Finally, Bloomberg reports, Facebook, the world’s biggest social network, asked a judge to dismiss Paul Ceglia’s ownership claim, calling it a fraud on the court. Ceglia, a western New York man, claims that a 2003 contract with Facebook’s co-founder, Mark Zuckerberg, gave him half the company when it was started the following year. Ceglia says he is now entitled to half of Zuckerberg’s holdings. Facebook, accuses Ceglia of forging the contract and creating phony e-mails to support his claim. Facebook filed documents with the U.S. Securities and Exchange Commission last month to raise $5 billion in an initial public offering. It’s worth is an estimated $93.6 billion
Reuters reports, President Barack Obama voiced doubt on Tuesday on the prospects for progress with Moscow on missile defense, until after the November U.S. election, as he defended remarks caught on camera the day before, with Russian President Dmitry Medvedev. Obama was overheard assuring Medvedev on Monday, that he would have “more flexibility” to deal with contentious arms-control issues, after the November 6th presidential ballot, drawing sharp criticism back home, from his Republican opponents. Obama urged Moscow to give him “space” until after the U.S. election and Medvedev said, he would relay the message to incoming Russian president Vladimir Putin, who takes over at the Kremlin in May. The unusual exchange came as Obama and Medvedev huddled together on the eve of the summit, unaware their words were being picked up by microphones, as reporters were led into the room. As he was leaning toward Medvedev in Seoul on Monday, Obama was overheard asking for time – “particularly with missile defense” – until he is in a better position politically to resolve such issues. “This is my last election … After my election I have more flexibility,” Obama said, expressing confidence that he would win a second term.
The Wall Street Journal reports, two major energy companies are planning to build new pipelines that will move as much as 850,000 barrels of crude oil a day from Canada to refineries along the Gulf Coast by mid-2014, in the latest effort to cope with a surge of oil production in North America. The separate projects, planned by Enterprise Products Partners and Enbridge, will compete with TransCanada’s proposed Keystone XL pipeline, a massive project to move crude from the oil sands of Alberta to U.S. refineries.
The Wall Street Journal also reports, the head of a Tokyo asset manager alleged to have lost $1.3 billion in client money admitted wrongdoing for the first time Tuesday, saying that the company had falsified the investment performance of its funds to hide trading losses. The admission follows a raid by securities regulators on AIJ’s headquarters in central Tokyo last week after the company said it couldn’t account for most of the pension money it managed.
Finally, Bloomberg reports, Facebook, the world’s biggest social network, asked a judge to dismiss Paul Ceglia’s ownership claim, calling it a fraud on the court. Ceglia, a western New York man, claims that a 2003 contract with Facebook’s co-founder, Mark Zuckerberg, gave him half the company when it was started the following year. Ceglia says he is now entitled to half of Zuckerberg’s holdings. Facebook, accuses Ceglia of forging the contract and creating phony e-mails to support his claim. Facebook filed documents with the U.S. Securities and Exchange Commission last month to raise $5 billion in an initial public offering. It’s worth is an estimated $93.6 billion