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Tue, 26 Oct 2021
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Monsanto richer than ever before as food prices climb sky-high

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Monsanto: What economic crisis?
With global food prices near all-time highs, Monsanto, global seed and agricultural product powerhouse, delivered blockbuster fiscal first quarter earnings before the bell on Tuesday. The stock continued its upward trajectory, hitting fresh 52-week highs early in the trading session.

Monsanto saw net income surge 169% to $339 million, which translates into an EPS from operations of 62 cents, well above the 37 cent consensus estimate.

On the back of solid demand for corn products from the likes of Brazil, Argentina, and Mexico, Monsanto managed to churn out net revenue of $2.94 billion, up 20.5% and managing to beat the $2.66 billion estimate. The corn seed and traits unit was the company's best performer, with sales up 25.3% to $1.14 billion. Soybean seeds and traits results were slightly disappointing, sliding 4.5% to $231 million.

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6 Reasons GMO labeling will pass in Washington state

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© naturallysavvy.com
Initial polling shows that Washington voters will likely pass a ballot initiative, no matter how much money the biotech industry and large food corporations put into an anti-labeling campaign.

On Jan. 4, activists in Washington State will deliver approximately 300,000 signatures to the state legislature to guarantee that a mandatory GMO labeling Initiative, I-522, will be on the ballot in November. Initial polling shows that Washington state voters will likely pass this ballot initiative, no matter how much money the biotech industry and large food corporations put into an anti-labeling campaign.

Giant biotech and junk food corporations, joined by major food processors and supermarket chains, poured more than $46 million dollars into a vicious dirty tricks campaign to defeat California's Prop 37, a citizens ballot initiative that would have required mandatory labeling of genetically modified organisms (GMO) in food ingredients. Their tactics included a relentless barrage of TV and radio ads falsely claiming GE food labels would raise grocery prices, hurt family farmers, and enrich trial lawyers. They unleashed "scientific" testimonials manufactured by phony front groups, and they mailed counterfeit voter guides.

Arrow Down

Disney will gather private information on theme park visitors with new "Magic" bracelets

Magic Bracelets
© Kent Phillips, Disney
Visitors to Disney World in Orlando, Florida, will be revealing virtually everything they do at the park to company officials, if they participate in its new magic bracelet program.

This spring, Disney plans to offer MyMagic+, a special rubber bracelet encoded with customers' credit card information. By using the bracelets, visitors will be able to enter the park and purchase food or souvenirs without pulling out their wallets.

But this also means that visitors' actions, behavior and whereabouts will be carefully tracked within the park. Disney will collect this information, from what rides people go on and all purchases they make, to which costumed characters they choose to interact with. It will all be stored in a Disney data base, conceivably for marketing purposes.

Indeed, Disney's decision to move forward with the wrist band technology was contingent on determining that it would increase its corporate profits, according to its Parks and Resorts chairman, Thomas O. Staggs.

"If we can enhance the experience, more people will spend more of their leisure time with us," he told The New York Times.

Gold Seal

Jon Stewart brings some sense to gun control issue

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On his show Tuesday night, The Daily Show host Jon Stewart expressed his bafflement over conservatives who refused to even consider any new restrictions on gun ownership in the wake of multiple mass shootings.

He noted that conservatives had blamed gun violence on movies, video games, mental health, and even sin.

"Is this about me masturbating?" Stewart joked. "Look, I didn't know that that was considered a national issue."

The late-night comedian mocked politicians and others who claimed that numerous gun laws already existed, saying that McDonald's hot coffee was more regulated than firearms.

Part One:


Cowboy Hat

Biden: Obama could make executive order on gun control

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© Credit: AP Photo/Carolyn Kaster
The Vice President met with gun control advocates and victims groups today.

Joe Biden said today that the President is prepared to take unilateral action in order to implement stricter gun control measures. "The president is going go act," he said. "There are executive orders, executive action that can be taken. We haven't decided what that is yet, but we're compiling it all."

"The president and I are determined to take action. This is not an exercise in photo opportunities," Biden added.

Biden's comments came shortly before a meeting with victims groups and gun control advocates at the White House today, as part of the gun violence task force set up by Obama in the wake of the Newtown school shootings.

Brick Wall

German politicians threaten to block Cyprus bailout

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© Photograph: Gon Alo Silva/Gonalo Silva/Demotix/Corbis
Angela Merkel said Cyrpus must agree to wideranging economic reforms and privatisations before she would support a bailout.
German politicians including Angela Merkel take hard line on Cyprus, which needs estimated €17bn to recapitalise its banks.

Cyprus's hopes of agreeing a eurozone bailout were thrown into fresh confusion on Wednesday as German politicians from across the spectrum warned that the aid package could be vetoed by the Bundestag.

Angela Merkel, the German chancellor, is taking a hard line on Cyprus, saying the country must agree to wideranging economic reforms and privatisations before she would support a bailout.

Negotiations between the Cyprus government and international lenders have stalled, with the Communist president, Dimitris Christofias, refusing to accept asset sales. Speaking in Berlin, Merkel also refused to concede ground over the issue.

"We agree it is important that the troika should talk with Cyprus and that there can be no special conditions for Cyprus because we have common rules in Europe," Merkel said. "We are far from the end of the talks."

Nuke

Flying towards war? Drone race signals escalation in Sino-Japanese tensions

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The development and acquisition of drones has become crucial to the ever-expanding arms race between China and Japan, as tensions over disputed islands in the East China Sea could soon reach boiling point.

Weaknesses in Japan's surveillance capability and the ongoing territorial dispute over the Senkaku islands, known as the Diaoyu in China, have spurred Tokyo to purchase an advanced drone model from the US.

Japan's vulnerability was highlighted late last year when Japanese radar failed to detect a low-flying Chinese aircraft passing over the group of disputed islands.

The drones will seemingly be deployed "to counter China's growing assertiveness at sea, especially when it comes to the Senkaku islands," the Kyodo news agency quoted an unnamed defense ministry official as saying.

Japanese concerns that the islands will be used by China as a prelude to testing regional power balances, prompted Japan's Defense Ministry to request $2.4 billion dollars from hawkish Prime Minister Shinzo Abe, whose conservative government swept to power on December 26.

Passport

Syria and Iran swap prisoners after months of complex international talks

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© Photograph: Louai Beshara/AFP/ Getty Images
Freed Iranian men arrive at a hotel in Damascus.
Assad regime frees more than 2,000 people believed to have opposition links in exchange for 48 detained Iranians.

Syria has released 2,130 opposition prisoners in exchange for 48 Iranians who were abducted while apparently on a pilgrimage in Damascus five months ago.

The first big prisoner swap of the 21-month war, brokered by a Turkish humanitarian group and the Qatari government, was a reminder of the sheer scale of the Syrian crisis, and of its complex geopolitical ramifications.

Syrian state media made no mention of the mass exchange but it was confirmed by the Iranian government and officials of the Turkish humanitarian aid group IHH. "This is the result of months of civil diplomacy carried out by our organisation," said an IHH spokesman, Serkan Nergis. Iran's deputy foreign minister, Hossein Amir-Abdollahian, said the freed prisoners would return home shortly.

Syrian government forces have struck deals with rebel groups to swap prisoners but the mass release is the first time any non-Syrians have been freed. The detainees included a number of Turks.

Attention

U.S. warns Britain against leaving European Union

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© Photograph: Kerim Okten/EPA
David Cameron’s stated strategy on securing a looser UK-EU relationship to be laid out in a major speech within weeks.
Intervention from senior US official comes as UK position on EU membership is criticised in Brussels and Dublin.

The US has issued a blunt warning to the UK not to leave the European Union, saying Britain would undermine its influence in Washington by trying to renegotiate membership.

The forthright American intervention in the European debate, from a senior US official, came on a day David Cameron's campaign to reset the terms of Britain's EU membership also came under concerted assault from Brussels and Dublin, with senior figures warning the prime minister against renegotiating the European treaties to secure a new deal and signalling bluntly that this was not on the agenda.

"We have a growing relationship with the EU as an institution, which has an increasing voice in the world, and we want to see a strong British voice in that EU," Philip Gordon, the US assistant secretary of state for Europe, said on a visit to London "That is in America's interests. We welcome an outward-looking EU with Britain in it."

Gordon stressed that it was up to the UK define its own interests, but in what appeared a clear reference to the government's proposal to renegotiate membership and repatriate some powers from Brussels, he stressed that an inward-looking EU, preoccupied with its own internal procedures would be seen as a lesser ally by Washington.

Attention

Permanent checkpoints in the U.S?

We are Here to Help
© EricPetersAuto
Well, why not?

If the occasional random roadside stop n' frisk is a good idea - and not a violation of anyone's rights - why not make such gantlets ubiquitous - and permanent? That's the nut of San Antonio Deputy Police Chief Anthony Trevino's argument in favor of establishing permanent DWI checkpoints. He'd like them in the vicinity of what he calls "hot spots" - that is, establishments where alcohol is served, such as restaurants and bars. (See here for the news story.) But why not everywhere? After all, "drunk driving" is a possibility anywhere.

If Trevino's wish is granted, the price of going out to dinner will include not merely the possibility of having to submit to an unwarranted (and unwanted) interrogation and inspection by the likes of Trevino and his pals. It will be a certain thing. The new normal - part of the routine. Just like being forced to assume the I surrender pose at the airport, spread your legs and let a blue-shirted goon have his (or her) way with you as the price of getting on an airplane.

It has already been established in law - sanctified by the black-clad priests of legalese - that it is not "unreasonable" (and so, not a violation of the Fourth Amendment) to stop vehicles at random - that is, without any specific probable cause - and require drivers to roll down their window, provide ID, answer questions and - at the arbitrary discretion of the costumed enforcer - remove themselves from their vehicle and submit to a sobriety test of one kind or another. To prove to his satisfaction, in other words, that you aren't "drunk." As opposed to the old-fashioned idea that it's up to the law to prove you are.