A French court yesterday ordered an investigation into new IMF managing director Christine Lagarde’s role in a much-criticized US$400 million arbitration deal in favor of a controversial tycoon.
Lagarde was France’s finance minister when Bernard Tapie won a settlement in 2008 with a state-owned bank over the mishandled sale of sportswear maker Adidas in the 1990s.
Lagarde took over as head of the IMF last month after her predecessor, Dominique Strauss-Kahn, quit to face charges he tried to rape a New York hotel maid.
A commission at France’s Court of Justice of the Republic decided yesterday that an investigation should be launched into Lagarde’s role in the arbitration deal. It is a special court that only to handle cases involving government ministers.
A senior prosecutor had requested an investigation in May, saying he suspected Lagarde overstepped her authority.
Lagarde’s lawyer, Yves Repiquet, said she was not worried about the investigation and even welcomes it.
Thousands gathered across New Zealand yesterday to celebrate the signing of the country’s founding document and some called for an end to government policies that critics say erode the rights promised to the indigenous Maori population. As the sun rose on the dawn service at Waitangi where the Treaty of Waitangi was first signed between the British Crown and Maori chiefs in 1840, some community leaders called on the government to honor promises made 185 years ago. The call was repeated at peaceful rallies that drew several hundred people later in the day. “This government is attacking tangata whenua [indigenous people] on all
The administration of US President Donald Trump has appointed to serve as the top public diplomacy official a former speech writer for Trump with a history of doubts over US foreign policy toward Taiwan and inflammatory comments on women and minorities, at one point saying that "competent white men must be in charge." Darren Beattie has been named the acting undersecretary for public diplomacy and public affairs, a senior US Department of State official said, a role that determines the tone of the US' public messaging in the world. Beattie requires US Senate confirmation to serve on a permanent basis. "Thanks to
UNDAUNTED: Panama would not renew an agreement to participate in Beijing’s Belt and Road project, its president said, proposing technical-level talks with the US US Secretary of State Marco Rubio on Sunday threatened action against Panama without immediate changes to reduce Chinese influence on the canal, but the country’s leader insisted he was not afraid of a US invasion and offered talks. On his first trip overseas as the top US diplomat, Rubio took a guided tour of the canal, accompanied by its Panamanian administrator as a South Korean-affiliated oil tanker and Marshall Islands-flagged cargo ship passed through the vital link between the Atlantic and Pacific oceans. However, Rubio was said to have had a firmer message in private, telling Panama that US President Donald Trump
‘IMPOSSIBLE’: The authors of the study, which was published in an environment journal, said that the findings appeared grim, but that honesty is necessary for change Holding long-term global warming to 2°C — the fallback target of the Paris climate accord — is now “impossible,” according to a new analysis published by leading scientists. Led by renowned climatologist James Hansen, the paper appears in the journal Environment: Science and Policy for Sustainable Development and concludes that Earth’s climate is more sensitive to rising greenhouse gas emissions than previously thought. Compounding the crisis, Hansen and colleagues argued, is a recent decline in sunlight-blocking aerosol pollution from the shipping industry, which had been mitigating some of the warming. An ambitious climate change scenario outlined by the UN’s climate