Over Easy: Around the World
Welcome to Thursday’s Over Easy, a continuation of Southern Dragon’s Lakeside Diner and its tradition of giving an overview of news our everyday media doesn’t cover, issues that we ought to consider outside the U.S. scene.
A financial manipulator was before the courts in Britain, in creating the Flash Crash losses of May, 2010 in which $800 million in stock investments were lost.
The US Department of Justice wants to extradite Navinder Singh Sarao, 36, on charges of wire fraud, commodities fraud and market manipulation.
Mr Sarao told a hearing at Westminster Magistrates’ Court on Wednesday that he opposed extradition to the US.
He was granted bail, which has been set at £5.05m. A review hearing has been set for 26 May.
Mr Sarao must pay £5m and his parent’s must pay £50,000.
Journalism as a field came under attack as holders of Le Monde struck out at the newspaper’s revelations about those whose funds were sheltered by HSBC practices from their taxation.
Journalists and editors at the French daily – which collaborated with the Guardianand other news organisations on the investigation – reacted with fury to the criticism from the two businessmen and vowed to “scrupulously enforce” the paper’s editorial independence.
The story has triggered a debate about press freedom in France after Pierre Bergé, president of Le Monde’s supervisory board, attacked the paper on RTL radio, accusing it of “informing” on the business people, politicians, criminals and celebrities named in the HSBC files.
“Is it the role of a newspaper to throw the names of people out there? … I don’t want to compare it to times past but all the same, informing is informing,” said Bergé, partner of the late fashion designer Yves Saint Laurent and co-founder of the couture house. He accused Le Monde of “populism” and “flattering the worst instincts”.