Russia’s Oil Sector Should Be Privatized in 8 Years – Ex-Finance Minister

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According to Alexei Kutrin, speaking at the SPIEF economic forum this week, “The oil sector should be fully privatized in the next 7-8 years. No state companies are required there now as the statehood brings more harm than benefit to those companies.”

He added that oil companies are able to deal with business issues without assistance from the state.

Russia’s Central Bank to Develop National Cryptocurrency

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The popularity and value of dealing in cryptocurrency has been established over the past couple of years, with Bitcoin the most prominent of many new digital moneys.

The Russian Central Bank’s Deputy Chairman Olga Skorobogatova spoke at SPIEF 2017 spoke about Russia’s interest in developing their own.

“Regulators of all countries agree that it’s time to develop national cryptocurrencies, this is the future,” said Skorobogatova. “Every country will decide on specific time frames. After our pilot projects we will understand what system we could use in our case for our national currency,”

She wasn’t the only Russian banking official to speak in favor of it at this year’s economic forum. Part of the interest comes from the current state of cryptocurrencies, including that transactions can’t be traced to any person, and that recently there have been new legislative restrictions imposed by various countries.

Paradigm Shift From Industrial to Knowledge City

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In 2017, the idea has come to the fore that there has been a shift towards a knowledge/creative class, and the new method of production is knowledge. Recently, the subject featured large at the 2017 St. Petersburg International Economic Forum.

Cities that have developed lately into strong knowledge economies are considered to have had seeds decades ago in investment in education.

The new drivers of competitiveness of cities: No power losses, evolution and dynamics of the city’s economy, higher disposable income, personal wealth, and high technologies.

According to Roberto dos Reis Alvarez, Executive Director, Global Federation of Competitiveness Councils, who spoke at SPIEF on these ideas, “First, the Seamless City. Cities should operate in a way that we are not wasting energy-created heat, but just light. A second key idea … was really about evolution. And how could cities be adaptive to … all these transformations… A third conversation was about the Wellcity, this is really about wellness at the personal level. … And finally, this concept of the free city.”

Russia’s place in the future knowledge economy was highlighted by Alexey Kudrin, Chairman of the Board, Center for Strategic Research Foundation: “By 2025, 60% of the world’s GDP will be produced in 600 major cities. … In Russia, only two cities – Moscow and St. Petersburg – can somehow take part in this global competition. The first two cities produce 27% of Russia’s GDP; it is 13% in the US and 9% in Europe.”

The speakers talked about building new cities, but with modern technology, because current infrastructure is lagging behind tech. “When Russia will create … large cities and agglomerations which will become the hubs bringing together technology and intellectual potential, social capital and quality of life, it is only then that it will be competitive on a global scale,” said Kudrin. “Those 15 cities with a population of more than a million people, and another five cities that would be able to gather more than a million people around taking the agglomeration into account, should receive special support and, perhaps, a special status,”

The goal of these new cities is one that would require special civil workers, another speaker noted. “There is a need to have such a mayor who would have his own vision of the future and would be working hard in their position, and for a long time.”

And these would also require new transportation — airports and high-speed railways.

Lexmark Sued a Company That Let Buyers Refill Their Ink Cartridges … and Lost

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The Supreme court in a 7-1 decision found that consumers can do what they want with the printers they buy, despite Lexmark forcing buyers to “sign” a “post-sale restriction” contract that the buyer won’t tamper with their patented product after they buy it.

The case is “Impression v Lexmark.”

Lexmark makes two similar types of printers: the cheaper one comes with ink cartridges that have a chip on them that prevents users from refilling them and putting them back in the printer, so the user has to go buy a new one from a store. Impression removes the chip so users can refill their cartridges.

Lexmark sued, saying that infringes on their property rights (which they said they maintained post-sale) that prevented third parties from modifying or repairing their products.

The court reasoned that if companies could maintain property rights preventing modification and repair after a product was sold, pretty much every repair shop in the country could be sued, the “smooth flow of commerce” would be impaired, and all parties involved would end up harmed.

PFOA Chemicals in Water

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A study has now shown that residents of the Mid-Ohio River Valley had higher than normal levels of perfluorooctanoic acid (PFOA), based on blood samples collected over a 22-year span (1991-2013).

The exposure source was likely drinking water contaminated by industrial discharges upriver.

The researchers identified three known industrial sources who discharge PFOA into the Ohio River: DuPont’s Fort Washington Works and on-site landfill, Dry Run Landfill in Washington, WV, and Letart Landfill in Letart, WV.

The issue is increasingly common. It has been reported that every person now has around 4 or 5 parts per billion in their blood, which is around 10x the EPA provisional limit.

And, while PFOA is being phased out, it’s only one chemical in a large class of fluorine-derived substances called fluoropolymers (PFAs), so all the industry has to do is simply switch to different ones that aren’t registered by the EPA, and have not been studied to the same extent.

The recourse taken by those affected tends to be lawsuits. A lawyer recently made headlines for suing DuPont for PFOA after a farmer called him to complain his cattle were getting sick and dying left and right and a soapy froth of chemical buildup in his creek.

Study

“The United States Will Withdraw” – Trump

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“The United States will withdraw from the Paris climate agreement,” said Trump this week.

Trump said he wants to negotiate for better terms, and that other countries are given an economic edge by the current accord. The U.S., he said, suffers lost jobs, lower wages, closed factories, and diminished economic production because of the agreement.

European countries said that the agreement could not be renegotiated, and China reaffirmed its commitment to the deal.

The U.S. entered the agreement under Obama, who decided to say yes to it without submitting it to the Senate for confirmation — analysts believe it wouldn’t have passed the Senate.

BC Trials to Take Place in Digital Small Claims Court Now

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In an attempt to increase citizens’ access to justice and make small claims faster, cheaper and easier, the province has launched its online Civil Resolution Tribunal.

The new online tribunal is the first in Canada where these types of disputes (contracts, debts, personal injury, personal property and consumer issues for values under $5000) can be filed, negotiated, and resolved almost all online, with simple explainers of options and procedures.

B.C. has already been letting condo owners settle strata disputes online since last year.

The Ministry of Justice also raised the jurisdiction of B.C. small claims to $35,000, up from $25,000.

Elementary Schools Cancel High Jump Due to ‘Risk’ Factor

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Two school boards in Sault St. Marie are citing the Ontario Physical Education Safety Guidelines, which classifies high jump as a “higher risk activity,” as the reason they are cutting the sport out of elementary schools immediately.

Other sports so far included in the “higher risk activity” category: wrestling, alpine skiing, and snowboarding.

According to the school boards’ joint statement, “It was felt that the changed classification and the need to maintain student safety as a priority means this event is best suited for development at the secondary level where there is greater access to trained staff and proper equipment at sites.”

“We felt it best to maintain high jump at the secondary level and to have our younger students compete in events that are most appropriate for their stage of development and which can showcase their abilities with less risk involved,” added Lucia Reece, Algoma District School Board director.

Innocent Man Jailed for Rape Has Been Released, and His Lying Ex Is Now Jailed

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The man was jailed after his ex-spouse charged him with choking and trying to rape her.

The story she and her attorney told the judges in the original 2015 trial was that her ex broke into her apartment, threw her on her bed, choked her, threatened to kill her, and attempted to rape her multiple times, and they presented as evidence injuries to her neck. The man was charged and sent to prison.

19 days later, the woman came forward with the truth: that she made it up.

The 34-year-old Ontario woman was then charged with mischief for the lie (mischief in Canada has maximum punishment of 14 years). Her lawyer suggested a punishment of a conditional sentence, citing that she had changed since she made the claim, that she had recently completed anger management, and that she was making progress in drug recovery. They also presented a letter to the court written by her daughter asking that her mother not be sent to jail and an unsigned letter from her ex asking the same.

However, because the woman had a previous criminal record and had been in jail several times, the court said, it gave her jail time: 60 days.

The court justice said of the sentence, “When you go to a police officer and pretend to be a victim, the police officer begins investigating the case, but that takes that officer away from investigating real cases. … (Your story) was calculated. You inflicted injuries to your neck. You said they were caused by someone. You gave a sworn statement to police. You knew (the ex-spouse) was arrested and in custody …

“One day went by. Two days went by. A week went by. Nineteen days went by knowing an innocent man was in jail.”