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U.S. tax dollars promote Monsanto’s GMO crops overseas


French beekeepers demonstrate in front of French Monsanto headquarters in Bron

U.S. taxpayers are footing the bill for overseas lobbying that promotes controversial biotech crops developed by U.S.-based Monsanto Co and other seed makers, a report issued on Tuesday said.

A review of 926 diplomatic cables of correspondence to and from the U.S. State Department and embassies in more than 100 countries found that State Department officials actively promoted the commercialization of specific biotech seeds, according to the report issued by Food & Water Watch, a nonprofit consumer protection group.

The officials tried to quash public criticism of particular companies and facilitated negotiations between foreign governments and seed companies such as Monsanto over issues like patents and intellectual property, the report said.

The cables show U.S. diplomats supporting Monsanto, the world’s largest seed company, in foreign countries even after it paid $1.5 million in fines after being charged with bribing an Indonesian official and violating the Foreign Corrupt Practices Act in 2005.

One 2009 cable shows the embassy in Spain seeking “high-level U.S. government intervention” at the “urgent request” of Monsanto to combat biotech crop opponents there, according to the Food & Water Watch report.

The report covered cables from 2005-2009 that were released by Wikileaks in 2010 as part of a much larger release by Wikileaks of a range of diplomatic cables it obtained.

Monsanto spokesman Tom Helscher said Monsanto believes it is critical to maintain an open dialogue with government authorities and trade groups in other countries.

“We remain committed to sharing information so that individuals can better understand our business and our commitments to support farmers throughout the world as they work to meet the agriculture demands of our world’s growing population,” he said.

State Department officials had no immediate comment when contacted about the report.

Food & Water Watch said the cables it examined provide a detailed account of how far the State Department goes to support and promote the interests of the agricultural biotech industry, which has had a hard time gaining acceptance in many foreign markets.

“It really goes beyond promoting the U.S.’s biotech industry and agriculture,” said Wenonah Hauter, executive director of Food & Water Watch. “It really gets down to twisting the arms of countries and working to undermine local democratic movements that may be opposed to biotech crops, and pressuring foreign governments to also reduce the oversight of biotech crops.”

But U.S. officials, Monsanto and many other companies and industry experts routinely say that biotech crops are needed around the world to increase global food production as population expands. They maintain that the crops are safe and make farming easier and more environmentally sustainable.

PROMOTION THROUGH PAMPHLETS, DVDs?

The cables show that State Department officials directed embassies to “troubleshoot problematic legislation” that might hinder biotech crop development and to “encourage the development and commercialization of ag-biotech products”.

The State Department also produced pamphlets in Slovenia promoting biotech crops, sent pro-biotech DVDs to high schools in Hong Kong and helped bring foreign officials and media from 17 countries to the United States to promote biotech agriculture, Food & Water Watch said.

Genetically altered crops are widely used in the United States. Crops spliced with DNA from other species are designed to resist pests and tolerate chemical applications, and since their introduction in the mid 1990s have come to dominate millions of acres of U.S. farmland.

The biotech crops are controversial with some groups and in many countries because some studies have shown harmful health impacts for humans and animals, and the crops have been associated with some environmental problems.

They also generally are more expensive than conventional crops, and the biotech seed developers patent the high-tech seeds so farmers using them have to buy new seed every season, a factor that makes them unappealing in some developing nations.

Many countries ban planting of biotech crops or have strict labeling requirements.

“It’s appalling that the State Department is complicit in supporting their (the biotech seed industry’s) goals despite public and government opposition in several countries,” said Ronnie Cummins, executive director of nonprofit organization Organic Consumers Association.

“American taxpayer’s money should not be spent advancing the goals of a few giant biotech companies.”

(Editing by Muralikumar Anantharaman)

via U.S. tax dollars promote Monsanto’s GMO crops overseas: report | Reuters.

via U.S. tax dollars promote Monsanto’s GMO crops overseas: report | Reuters.

Can you Trust big business? March review 2013


Despite all the Irregularities listed below nobody has yet been sent to prison.

To put this in perspective almost 200 people were jailed in Ireland for not paying court fines relating to TV licences last year.

One rule for the rich and another for the poor

images (7)

 

 

‘Bankers should be technicians and functionaries who serve the public and provide guaranteed stability. They should not be entrepreneurs, gamblers, who can count on public bailouts if their speculations turn to dust.’ 

The Guardian, Friday 1 March 2013

One of London’s most successful hedge fund managers, Patrick Degorce, has been forced to part with millions of pounds in tax after Revenue and Customs persuaded the courts to throw out a complex film

RTE – 1st  March

Seán FitzPatrick facing 12 charges over financial irregularities. Former Anglo Irish Bank chairman and chief executive Seán FitzPatrick has been sent forward for trial on 12 charges in connection with alleged financial irregularities at the bank. He is accused of making false, misleading or deceptive statements in relation to millions of euro to the company’s auditors, Ernst and Young, over a six-year period. The amounts on the charges are €5.1m in 2002; €14m in 2003; €23m in 2004; €42.1m in 2005; €60.9m in 2006 and €139.8m in 2007.

Telegraph Saturday 02 March 2013

 

Ernst & Young to pay $123m to settle US tax shelter probe Ernst & Young has agreed to pay $123m to resolve a US federal investigation into its role developing and marketing tax shelters that helped its clients avoid more than $2bn in tax liabilities. As part of the settlement, announced by the Manhattan US Attorney’s Office, the accounting firm also entered into a non-prosecution agreement and admitted to the wrongful conduct of certain partners and employees. The settlement amount reflects the gross fees Ernst & Young earned developing and marketing four tax shelter products from 1999 to 2004, according to the nonprosecution agreement.

Telegraph Saturday 02 March 2013

Commodity giant Glencore under spotlight over Iran Glencore, the FTSE 100 commodity giant, supplied tonnes of raw material to an Iranian firm that supplied the country’s nuclear programme, it emerged. A Western intelligence report seen by Reuters described Glencore’s barter deal as a good way for Tehran to get around global financial restrictions imposed over its nuclear activities, although it did not say that Glencore violated sanctions.

March 2, 2013  Reuters

Las Vegas Sands says “likely” violated U.S. corruption act March 2, 2013 4:39 PM ET Reuters) – Las Vegas Sands Corp said it “likely” violated the federal Foreign Corrupt Practices Act, which outlaws the bribery of foreign officials, according to a Securities and Exchange Commission filing on Friday. The filing marks the first disclosure by the casino operator, controlled by founder and billionaire Republican donor Sheldon Adelson, that is was under investigation.

Independant Thursday 5th March 2013

IBRC suing two Dubai firms in Quinn case TWO related companies based in Dubai are being sued by Irish Bank Resolution Corporation (IBRC) over their alleged involvement in an asset-stripping scheme by family members of bankrupt businessman Sean Quinn. In the commercial court yesterday Judge Peter Kelly granted an application by IBRC to join Senat Legal and Senat FZC, both of Gold and Diamond Park, Dubai, and Michael Waechter, principal of Senat FZC, as co-defendants to the bank’s action against various members of the Quinn family. The judge noted IBRC special liquidator Kieran Wallace claimed the Senat parties played “a pivotal role” in the scheme to strip assets worth up to $500m from the Quinn family’s International Property Group (IPG). It is alleged the scheme was “masterminded by one or all” of the three, the judge said.

 

Irish Times Thursday, March 7, 2013

Microsoft fined €561m for limiting browser choice Shares in Microsoft dropped yesterday after the European Commission imposed a €561 million fine on the company for failing to implement a previous ruling obliging it to offer users a choice of internet browsers. It is the first time the commission has been forced to fine a company for non-compliance with agreed commitments. In 2009 a European antitrust investigation found that Microsoft was unfairly tying its internet Explorer browser to its Windows operating system, and ruled that the company must give users a choice of which internet browsers to use.

 

The Telegraph 8th Mar 2013

Pensioners being ‘ripped off’ by profit margins on annuities Retiring workers are being “ripped off” by financial companies making huge profit margins on annuities, campaigners have warned. A Telegraph investigation has raised concerns about the profits that insurance companies and other firms are making on annuities. Only one annuities provider, Standard Life, has disclosed its margins on annuities, revealing that it pockets almost 20p of every pound a customer pays for an annuity. Other firms refuse to reveal their margins, and experts warn that the industry is concealing large profits. Ros Altmann, a pensions campaigner, said: “These huge margins are outrageous.”

The Guardian, Monday 11 March 2013

All bets are off as online gambling group Intrade launches investigation

Irish company announces it is looking into possible ‘financial irregularities’ and has ‘immediately ceased’ its trading activity Online gambling group Intrade has ceased taking bets after launching an investigation into potential “financial irregularities”.

 

 

Irish TIMES 14 MARCH 2013

THE son of bankrupt businessman Sean Quinn has provided statements of Russian bank accounts held by himself and other family members to Irish Bank Resolution Corporation (IBRC) and is anxious to finally purge his contempt of court orders, the High Court heard today.

The Guardian, Friday 15 March 2013

US hedge fund SAC pays record fine to settle insider trading allegations SAC Capital, a hedge fund run by billionaire Steve Cohen, is to pay $600m (£397m), the biggest insider dealing fine in history

The Guardian.co.uk, Friday 15 March 2013

JP Morgan faced a barrage of criticism on Friday for it disastrous “London whale” trading loss as senators and the bank’s regulator accused its executives of believing they were too big to fail, ignoring warnings about the escalating losses and deliberately withholding information. At a hearing a day after it published a damning 300-page report on JP Morgan’s $6.2bn debacle, the Senate subcommittee on investigations hammered bank executives over the affair, while regulators flatly denied JP Morgan’s claims that it had kept them informed about the mounting losses.

The TELEGRAPH  19 Mar 2013

French Budget Minister Jerome Cahuzac resigns after tax fraud probe 

Cahuzac, a cabinet heavyweight, had been tasked with fighting tax evasion. He is now under investigation for holding a secret Swiss bank account. The resignation is an embarrassment and a blow to President François Hollande as his government seeks to redraft deficit reduction plans to maintain fiscal credibility with France’s euro zone partners. Mr Cahuzac was responsible for making drastic government spending cuts. He had repeatedly dismissed as “crazy” a report in December by French investigative news website Mediapart that he held an undisclosed account at the Swiss bank UBS until the start of 2010. “I have never had an account in Switzerland or any other place abroad,” he said at the time.

 RTE  Wednesday, 20 March 2013

Representatives of the special liquidator of IBRC served papers on three former directors of Irish Nationwide last night. It is understood the legal action relates to their stewardship of the building society. Papers were served on former directors Terence Cooney and Stan Purcell, and former chairman Michael Walsh. It is understood that it is intended that papers will be served on former managing director Michael Fingleton and another former director David Brophy.

RTE 27TH March

Britain’s financial services regulator has fined insurer Prudential £30m and censured its chief executive over its handling of a failed bid to acquire rival AIA in 2010. The UK’s Financial Services Authority fine concerned Prudential’s plans to acquire AIA, the Asian subsidiary of AIG. The bid eventually collapsed after both parties failed to agree on a price. The FSA said Prudential did not inform it of the deal – even though they held a detailed meeting only weeks before news of the deal emerged. The FSA also censured CEO Tidjane Thiam, for playing a significant part in the decision not to contact the regulator. The regulator said the deal’s size would have been the biggest in the UK and could have affected confidence in the country’s financial system.

The Guardian, Thursday 28 March

Royal Bank of Scotland is being sued for misleading investors during its £12bn emergency fundraising in 2008, in a landmark joint claim brought by Dutch bank ING and pension funds for British coal miners.

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