Weekday News Wrap: Wednesday, October 3, 2012
- Georgia’s President Mikhal Saakashvili has conceded defeated in Monday’s parliamentary elections.
- Benjamin Netanyahu appears to have softened his stance on military action against Iran, allowing more space for sanctions to take effect until at least mid-2013.
- The territorial dispute over the Senkaku/Diaoyu islands is blamed for the decision of major Chinese banks to pull out of the IMF and World Bank Annual Meetings that are scheduled to take place in Tokyo next week.
- Ralls Corp, a company owned by two Chinese nationals, has sued President Obama after he invoked national security reasons to block their purchase of four wind farm projects near a US naval base in Oregon.
- Syria’s President Bashir al-Assad rejected demands for a peaceful solution to the crisis in Syria from many of his staff after some of his top aides were killed in July.
- JP Morgan has been sued by the New York Attorney General for its involvement in the global financial crisis, a lawsuit the US Government supports.
- Amnesty International reports that in South Sudan, police forces are shooting and raping civilians.
- Iranian President Mahmoud Ahmedinejad has said his country will not discontinue its nuclear program, despite recent sanctions and currency devaluation.