Feds seek $12.5 million in California assets allegedly linked to Philippines corruption + MORE Jul 15th

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Industry Canada experts reviewed Canada’s troubled manufacturing sector last February in an internal document obtained by CBC News under the Access to Information Act. Its candid findings about job losses and weak investment are at odds with the sunnier claims of the Harper government.

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LOS ANGELES, Calif. – Federal authorities are trying to seize $12.5 million in Southern California property and assets from a businesswoman they claim amassed a fortune by bribing corrupt officials in the Philippines.
The U.S. Department of Justice filed a forfeiture complaint Tuesday. Authorities want assets they contend Janet Lim Napoles bought for herself and her daughters with a decade’s worth of money intended to fight poverty.
The assets include a motel near Disneyland; properties in Covina and Irvine; money from the sale of a Los Angeles luxury condominium; a Porsche and a stake in a California-based consulting company.
Napoles allegedly used bribes and kickbacks to siphon off Philippine government development funds.
She is serving up to 40 years in prison in the Philippines for illegally detaining a whistleblower.
The post Feds seek $12.5 million in California assets allegedly linked to Philippines corruption appeared first on Canadian Business – Your Source For Business News.

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BEIJING, China – China’s economic growth in the latest quarter held steady at 7 per cent, its weakest performance since the global crisis, but better retail sales and factory output in June suggested efforts to reverse the slump might be gaining traction.
The figure reported Wednesday was slightly above forecasts and came as the ruling Communist Party is struggling to reverse a stock market plunge that threatens to disrupt its economic reform plans.
The ruling party is trying to steer China to slower, more sustainable growth based on domestic consumption instead of trade and investment. But an unexpectedly sharp downturn over the past two years raised the threat of politically dangerous job losses. Beijing responded by cutting interest rates four times since November and pumping money into the world’s No. 2 economy through spending on construction.
“There are good reasons to think that the latest figures are mirroring a genuine stabilization of conditions on the ground,” said Julian Evans-Pritchard of Capital Economics in a report…

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BEIJING, China – China’s 2Q economic growth holds steady at 7 per cent as retail sales, investment weaken.
The post China’s 2Q economic growth holds steady at 7 per cent as retail sales, investment weaken appeared first on Canadian Business – Your Source For Business News.

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HaaretzNetanyahu is misleading: There is no such thing as a good deal with IranHaaretzThe Vienna accord is flawed in many ways, but it will compel Iran to take steps that are hard to imagine it would take under any other scenario. By Barak Ravid | Jul. 15, 2015 | 8:00 AM | 2. submit to reddit. Israeli Prime Minister Benjamin Netanyahu …MIDEAST STOCKS-Rebounding oil may support Gulf, Q2 earnings mixedReutersIran nuclear deal: Peace in our time? Not with this shoddy agreementTelegraph.co.ukObama sending defense chief to Middle East to reassure on IranYnetnewsBBC News -Irish Times -Hindustan Timesall 11,814 news articles »

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