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Charlie Rose's interview with Gao Xiqing, the head of China Investment Corporation, China's Sovereign Wealth Fund.

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Speaking on national television in the U.S., President Obama outlined his plans for action relating to the BP Gulf Oil Spill. He is appointing former Mississippi governor Ray Mabus, as head of a Gulf Resoration program to work in cooperation with communities, conservationists, fishermen, and local residents. Obama also said he will tell the chairman of BP's board, Carl Henric-Svanberg, that he will have to set aside resources for compensating workers and business owners who have suffered through this Oil Spill. The White House wants to see an escrow account for this purpose and is negotiating this- the amount varies from an estimate of $20 billion by Senate Democrats to other estimates. Other action was appointment of Michael Bromwich, as head of the Minerals Management Service.

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Libyan lawyer and human rights activist Azza Kamel Maghur, fled earlier this year to Canada with his 3 year old daughter. He writes about the people of Tripoli rising up against the Gaddafi regime. At the same time rebels were closing in on Tripoli in the third week of August 2011. He describes the Al Zuhur neighborhood of Tripoli on the day when the evening call to prayer from the Ben Nabi and Buhmeira mosques rang out longer than usual. This time a signal for people to take to the streets. Some of the youth were shot by snipers from rooftops of buildings. The struggle to free Tripoli was taking place. The carefully planned signal was coordinated with the rebels advance and NATO airstrikes. It enabled the rebels to advance quickly into the city.

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Gen. Keane and Pletka say action by the U.S. is needed in 2013 to render ineffective the airdefense system and runways used by warplanes of the Assad regime. They emphasize that the U.S. has the technology and capacity to do this even with the Russian systems added in Syria. The lack of a U.S. response in the face of the Assad regime's attacks on civilian populations and use of chemical weapons, the support to the U.S. from the Arab world and Turkey, and the huge refugee problems in Jordan and Turkey, say Keane and Pletka, will lead to creating a worse situation than the relatively small risks of destroying the runways for Assad's warplanes and the airdefense system.

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Japan's cabinet approves a change in interpretation for Article 9 of the constitution to permit "collective self-defense." The wording was negotiated with the more pacifist New Komeito party in the coalition government to cover attacks on Japanese allies such as the U.S., but limit it to actions that seriously threaten Japan. Because the Liberal Democratic party of prime minister Abe controls both houses of parliament the change is likely to go through. The U.S. president Obama, Defense Secretary Hagel, and Rear Admiral John Kirby of the U.S. Navy see this as improving security and stability in the region.

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In an interview with the Wall Street Journal, Mark Carney, the head of Canada's central bank and the head of the Financial Stability Board, says China is falling behind in its earlier committments made at G-20 meetings to move towards rebalancing the world economy. He pointed to the fact that consumption in China has moved from about half of China's GDP to about a third, in the last ten years. China's investment has also declined from half of GDP to about one third. Carney also raised concerns about the strength of the Canadian dollar for Canada's competitiveness. The report "China: 2030" by the World Bank and China's Development Reform Commission also calls for changes in the way China's economy has increased its dependence on state run companies.

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HP CEO in aplanned reorganization will merge the printer business with the PC business. It is ameasure of how far the PC business has come since Mr Hurd was made CEO 4 years ago, and after he hired Mr Bradley a former Palm CEO to shake up the PC business. Mr. Bradley has made the PC division supply chain more efficinet especially in the fast growing consumer netbook PC business, and has cut costs. Meantime the printer business under Joshi has stagnated. The PC business was merged into printer business by Fiorina in the hope that Joshi could make a difference. Hurd separated the two and put Bradley at the PC division.Now its the PC business that is taking off and its head who will try to improve the printer business. Bradley has run alean business and improved PC margins even as prices of PC's have tumbled. HP also passed Dell in PC's sold. In the quarter ending July 31,2009 HP PC sales were$8.43 billion and $386 million in earnings, accounting for 12% of profits, printer and ink were $5.66 billion and $960 million in earnings for 30% of overall profit. Hurd told analysts in aconference call that he was disappointed in how the printer unit inventory was managed, and that HP had to get some internal stuff right. The ...

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The Basque country in Spain's Mondragon Corporation and its Eroski hypermarket, other businesses, make a large part of the Basque economy. The Guardian looks at the positive way it looks after its workers who have ownership in the company.

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The governments stress tests most adverse scenario shows that the 19 largest banks could suffer losses of upto $599 billion through the end of 2010 if the economy does wose than expected. It asked these banks to raise a total of $74.6 billion in capital in the financial markets to provide abetter cushion against these losses if they occurred. The tests measured potential losses on mortgages, commerical loans, securities and other assets. This adverse scenario covers 2 year cumulative losses of 9.1% on total loans.

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The nominee for the position of FBI Director in the U.S. in July 2017, Christopher Wray, is a former defense lawyer, prosecutor and Justice Department official. He responded to questions from Senator Graham on his views on Russia, and from Senator Leahy. He told the Senators that this was not a job for the faint of heart, and that "I am not faint of heart." He said he respects Mr. Mueller and Mr Comey's long service. Answering persistent questions from the Senate Judiciary Committee Wray said: "I believe to my core that there's only one right way to do this job, and that is with strict independence, by the book, playing it straight." Wray's background is Yale Law School 1992, Assistant U.S. Attorney in Georgia 1997, and with the Justice Department since 2001 becoming Assistant Attorney General for the criminal division. 

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Zillow's partnership with Beijing Yisheng Leju Information Servies Inc. A jointly branded website will provide Chinese buyers access to Zillow's U.S. property listings in the Chinese language.

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Analysts at Citigroup predict that Bank of America might record a$3.6 billion loss for fourth quarter 2008. It appears that Bank of America may have overreached in acquiring 2 troubled firms Countrywide and Merrill. WIth $25 billion in TARP funds already given to Bank of America, Bank of America has informed Treasury that without additional funding it may not be able to complete the acquisition of Merrill. Treasury and Bank of America are negotiating these additional funds. Meanwhile Goldman Sachs analysts estimate worsening losses from the credit and financial crisis. Losses says Goldman economists could reach $1.1 trillion from residential mortgages alone up from $780 billion earlier estimate. Adding in losses from commercial real estate, credit cards, auto and business debt could send this figure up to $ 2.1 trillion. And bad overseas loans of US institutions would be additional to this. Not surprisingly Fed Chairman Bernanker would like to see much of the second half tranche of $350 billion in TARP funds ging to stabilize the financial system....

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By shifting production of the Santa Fe SUV model to Kia's West Point, Georgia, plant- which makes the Kia Sorrento- Hyundai plans to free up 100,000 units capacity at it newly opened Montgomery, Alabama, plant. This freed up capacity will be used to meet increasing demand for Hyundai's Sonata sedans. Hyundai owns 34% of Kia Motors. The West Point plant was built to produce 300,000 units and uses the same components for the Santa Fe that it uses for the Sorrento.

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The final cost of rescuing Ireland's banks according to Irish Finance Ministry officials is 50 billion euros, nearly $50,000 for every household in Ireland! But now investors fear the figure may be even higher. The miscalculations at the Finance Ministry have continued for 2 years. In December 2008, 1.5 billion euros were set aside for Anglo Irish Bank, going up eventually to 22.9 billion euros, and in September 2010 an additional 11.4 billion euros were added to that amount. The Irish banking crisis continues just as the 16 euro-zone countries have agreed to guarantee 440 billion euros in loans if any of the countries is unable to borrow from private markets.