Barack Obama, the US president, has addressed the British parliament, saying that Western influence remains strong in the world, despite emerging world powers such as China, India and Brazil. In a speech to both houses of parliament on Wednesday, Obama said that Western powers still had a responsibility to uphold "universal rights", but stressed that this work must be done through multilateral forums like the G20. "We do this knowing the West must overcome mistrust and suspicion from many," he told the assembled British legislators, in a reference to Western support for recent pro-democracy uprisings in many countries in North Africa and the Middle East. "Ultimately freedom must be won by the people themselves, not imposed from without." Obama's speech to both houses of parliament on Wednesday was historic as it marks the first time a US president has been afforded that opportunity. |
Source: Al Jazeera |
Japan's Olympus admitted on Tuesday it hid losses on securities investments dating back two decades, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The revelations by the 92-year-old company appear to vindicate ex-CEO Michael Woodford, who has staged a campaign since being sacked on October 14 to force the firm to come clean on nearly $1.5 billion in questionable payments. Olympus President Shuichi Takayama blamed Tsuyoshi Kikukawa, who quit as president and chairman on October 26, Vice-President Hisashi Mori and internal auditor Hideo Yamada for the cover-up, saying he would consider criminal complaints against them. The admission after weeks of denials shocked investors, sending shares in the endoscope and camera maker skidding almost 30 percent and prompting the biggest non-Japanese shareholder to demand the replacement of the entire board. "Ignorance is no defense," said Jo...
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