The Archbishop of Canterbury called for a change in “culture” at financial institutions during a meeting in the House of Lords on Wednesday of last week.

Archbishop Justin gave the keynote address at a roundtable meeting organised by the Islamic Finance Council UK and supported by the Arab Finance Forum and the Cambridge Interfaith Programme.

Archbishop Justin said: ”˜The big area that has to change in our financial services structures is not around leverage and levels of debt in financial institutions ”“ although they are crucial and they must change ”“ but more fundamentally, even than that, is the issue of culture. Culture is an area that cannot be legislated, it can only be changed by a transformation in the spirit of society which leads to a sense of what is right and wrong.”

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THE decision by the Church Commissioners to join a new banking consortium marks a new hands-on approach to investment, the Commissioners’ Secretary and chief executive, Andrew Brown, said this week.

Mr Brown spoke to the Church Times after the banking giant Royal Bank of Scotland…announced that a Commissioners’ backed consortium had been selected as the preferred bidder for 314 of its branches, which will be spun off from the bank to comply with European Union state-aid regulations. The plan is for a new ethical bank under the old Williams & Glyn’s brand.

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Biologist Louis Burnett had to move his lab students to a conference room across the parking lot at Fort Johnson. His federal lab, animals and cell cultures are under lock and key.

Burnett’s dilemma is a case example of the ripple effect of the ongoing federal shutdown. As the shutdown enters its third day, the clock keeps ticking insistently for any number of people who don’t work for the federal government but find themselves on the outs because of the political standoff.

Burnett is a research professor at the College of Charleston. But like others in a cadre of college and state researchers, he collaborates on studies, shares office space and makes use of the equipment at the Hollings Marine Lab and the Center for Coastal Environmental Health and Biomolecular Research.

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Even though its most virulent critics raise the spectre of “Canadian-style” health care, “Obamacare” does little to change the enduring differences between the two health care system. What, exactly, does “Obamacare” look like compared to Canada?…

Not cost containment: The sharpest critics of Obamacare argue it does little to address the fundamental challenge of cost control. The new law includes a review of Medicare reimbursement and the expansion of Accountable Care Organizations to reward cost-effective care. But it doesn’t grapple in a systematic fashion with the overall inefficiencies in health care delivery and financing, the administrative burden of multiple payers, providers and plans, and the cost pressures of defensive medicine. Governments in Canada know that health care is a searing financial responsibility, but they have at their disposal cost containment measures ”“ monopoly fee negotiations with providers, global budgets for hospitals ”“ that remain unfathomable in the American context.

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‘Capitalism With A Human Face’ was the title of a well-known book written by Sir Samuel Brittan, a leading economic commentator, shortly before the year 2000.

Sadly, the financial calamities of the first decade of the 21st century have revealed that ”“ sometimes at least ”“ capitalism has a very far from human face. Indeed, more than occasionally it has seemed to have the countenance of a monster.

But now, under the leadership of the Archbishop of Canterbury, it looks as though the Church of England is attempting to give capitalism the opportunity to develop a new appearance ”“ even a Christ-like face.

The start of this month has seen the news that Justin Welby is hoping to draw up a ten-year action plan with the aim of forcing payday lenders such as Wonga out of business.

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Consumers seeking more information on their new options under the Affordable Care Act were met with long delays, error messages and a largely non-working federal insurance exchange and call center Tuesday morning.

Heavy Internet traffic and system problems plagued the launch of the health insurance exchanges, a key pillar of President Barack Obama’s health care law. Some of the issues appeared to subside just after 12 p.m. Central time, with some users reporting success in viewing new insurance products offered in Illinois as part of the law.

But others continued to have problems into Tuesday afternoon. For most of Tuesday, attempts to log on to the system were met with error messages: “We have a lot of visitors on our site right now, and we’re working to make your experience here better. Please wait here until we send you to the log-in page. Thank you for your patience.”

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1. The shutdown is unlikely to last long. In the past government shutdowns typically lasted a few days, with the most being 21 when the Republican Congress, led by Newt Gingrich, took on Bill Clinton in 1995.

This stance defies logic. If the reform law is so flawed, why not try to make it better? Why not wait till the law takes full effect and its failure becomes obvious, at which point it could be repealed through less destructive means””without endangering the entire economy?

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The dawn chorus always used to be accompanied by the distinctive chink of bottles being collected from doorsteps.

Now most of us buy our milk from supermarkets, so deliveries are fast becoming a thing of the past.

The number of glass bottles of milk delivered annually has fallen from 40 million in the early 90s to just two million today.
Going to church

Only 15% of us go to church more than once a month. In 1968 around 1.8 million people attended, but by 2007 that figure had almost halved.

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The Archbishop of Canterbury, Justin Welby, is preparing a “ten-year plan” to put payday lenders such as Wonga out of business.

A Church of England task force will, in collaboration with the Church of Scotland, make church buildings available to credit unions and recruit expert churchgoers as volunteers to help to run them. A leading financier is to meet the archbishop this week on whether he would lead the task force, which will include academics who, it is hoped, will produce a radical new theology of finance.

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Here we go again. The consortium that has just bought 314 branches from the Royal Bank of Scotland is pledging to launch an “ethical” bank. Now, where have we heard that before?

Of course, it was Co-op. The one that claimed its mutual ownership was more righteous than those banks with nasty shareholders and which said it would not get into the sort of mess that brought down the big banks. Well, not until it did get into the same sort of mess, which cast doubt over its entire banking operations.

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The series… [for example] looks at your commute to and from work:

Surveillance cameras in subway stations and on city buses watch you board and depart.
To automatically identify celebrities and regular customers when they enter a store, some retailers reportedly are using another facial recognition technology originally developed in the U.K. for spotting terrorists and criminals.
Meanwhile, smart cards log when and where you travel using public transportation

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The good news is that so far, all we have is political posturing. History suggest that nothing happens until at least 12 hours after our September 30th midnight deadline. No one gets serious about any sort of deal before noon on October 1. At that point, political pressure on the House Republicans ”” from constituents, from Business leaders, and from elder statesmen ”” will start in earnest. A few days later, it can become more intense. We see the same sort of patterns with the debt ceiling limit as well (that’s schedule to hit at midnight October 17).

As NBC’s Pete Williams have reported, we have had 17 prior government shutdowns over the past 40 years, including 21 days in 1995 (table below). So while this feels like its new and unusual, it is actually more commonplace than most of us believe.

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From here:

We welcome all support for family life and we’re pleased that this initiative includes both married couples and those in civil partnerships.” – See more at: http://www.archbishopofcanterbury.org/articles.php/5144/archbishops-statement-on-marriage-tax-breaks#sthash.qFxb8bCl.dpuf

That the Conservatives were going to announce a marriage tax allowance at their party conference had to be one of the worst kept secrets in Westminster since the date of the last general election. So they’ve managed to go one better than the £750 allowance proposed by their 2010 manifesto with David Cameron announcing in the Daily Mail tomorrow that people will be able to transfer £1,000 of their personal tax allowance to their spouse or civil partner.

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When I was a small boy, I attended church every Sunday at a big Gothic Presbyterian bastion in Chicago. The preaching was powerful and the music was great. But for me, the most awesome moment in the morning service was the offertory, when twelve solemn, frock-coated ushers marched in lock-step down the main aisle to receive the brass plates for collecting the offering. These men, so serious about their business of serving the Lord in this magnificent house of worship, were the business and professional leaders of Chicago. One of the twelve ushers was a man named Frank Loesch. He was not a very imposing looking man, but in Chicago he was a living legend, for he was the man who had stood up to Al Capone. In the prohibition years, Capone’s rule was absolute. The local and state police and even the Federal Bureau of Investigation were afraid to oppose him. But singlehandedly, Frank Loesch, as a Christina layman and without any government support, organized the Chicago Crime Commission, a group of citizens who were determined to take Mr. Capone to court and put him away. During the months that the Crime Commission met, Frank Loesch’s life was in constant danger. There were threats on the lives of his family and friends. But he never wavered. Ultimately he won the case against Capone and was the instrument for removing this blight from the city of Chicago. Frank Loesch had risked his life to live out his faith. Each Sunday at this point of the service, my father, a Chicago businessman himself, never failed to poke me and silently point to Frank Loesch with pride. Sometime I’d catch a tear in my father’s eye. For my dad and for all of us this was and is what authentic living is all about.

–Bruce Larson, There’s a Lot More to Health than Not Being Sick (Garden Grove, California: Cathedral Press, 1981), pp. 55-56 and also quoted by yours truly in yesterday’s sermon

The federal government moved closer to a partial shutdown Sunday as Republican and Democratic lawmakers showed no signs of negotiating through a standoff over the implementation of President Barack Obama’s health law.

The standoff left little prospect that Congress could reach agreement on terms for funding the government by midnight Monday, when the current fiscal year expires. A shutdown would leave essential services operating but prompt federal agencies to suspend many functions and furlough hundreds of thousands of workers.

Early Sunday morning, after a late night of votes, the House passed a bill delaying the health law by one year and attached it to a plan to fund the government through Dec. 15. It also includes a provision repealing a tax on medical devices that is intended to help finance the health law. That legislation now goes back to the Senate.

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The federal government on Sunday morning barreled toward its first shutdown in 17 years after the Republican-run House, choosing a hard line, voted to attach a one-year delay of President Obama’s health care law and a repeal of a tax to pay for it to legislation to keep the government running.

The votes, just past midnight, followed an often-angry debate, with members shouting one another down on the House floor. Democrats insisted that Republicans refused to accept their losses in 2012, were putting contempt for the president over the good of the country and would bear responsibility for a shutdown. Republicans said they had the public on their side and were acting to protect Americans from a harmful and unpopular law that had already proved a failure.

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Did the masterminds of the Westgate terror escape within an hour of launching the attack? Could the terrorists who remained behind to continue the senseless killing and repulse security forces also slip away unnoticed?

And what is the fate of the hostages thought to have been held in the siege? What about the destruction of the mall, did the military bomb it? And who looted the shops?

These are some of the hard questions that Kenyans are seeking answers to as sources reveal new accounts that have not been formally released by the government, further intensifying the mystery that surrounds the four-day siege.

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U.S. officials said Iran hacked unclassified Navy computers in recent weeks in an escalation of Iranian cyberintrusions targeting the U.S. military.

The allegations, coming as the Obama administration ramps up talks with Iran over its nuclear program, show the depth and complexity of long-standing tensions between Washington and Tehran.

The U.S. officials said the attacks were carried out by hackers working for Iran’s government or by a group acting with the approval of Iranian leaders.

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Given a trajectory that seems straight out of sci-fi, I’m worried about the future””specifically what technological advancements mean for our embodied, thinking, knowing, feeling human minds.

These days, we still say things like “I don’t know how” and “I can’t remember it,” but our ignorance rarely lasts long. Seconds later, it gets pulled up on Google or YouTube. The information we don’t know is so close””quite literally at our fingertips””that we forget we don’t know it. The dozens of phone numbers saved in my address book. The recipes saved on my Pinterest board. Google Maps to the nearest whatever. That Bible verse I’m trying to think of.

We instinctually ask our laptops and smartphones to tell us and teach us, things we once relied on other people to do.

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Leading climate scientists said today they were more certain than ever before that mankind was the main culprit for global warming and warned the impact of greenhouse gas emissions would linger for centuries.

A report, by the Intergovernmental Panel on Climate Change (IPCC), played down the fact temperatures have risen more slowly in the past 15 years, saying there were substantial natural variations that masked a long-term warming trend.

It said the Earth was set for further warming and more heatwaves, floods, droughts and rising sea levels as greenhouse gases built up in the atmosphere. The oceans would become more acidic in a threat to some marine life.

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The Archbishop of Canterbury has said that the Church Commissioners should invest some of their funds in housing associations and other social enterprises that work to tackle financial inequality.

He made his comments during a question-and-answer session at the National Housing Federation’s annual conference in Birmingham last Friday, where he had delivered a speech calling for a greater partnership between housing associations and the Church of England.

Tess Pendle, the head of My Home Finance, a non-profit organisation that provides low-cost credit and banking facilities to financially excluded people, as an alternative to payday lenders, asked whether “such a partnership might involve financial investment from the Church”.Read it all.

[The heroic man was]…Abdul Haji, the son of a former security minister in the Kenyan government, who had rushed to the mall after getting a text message from his brother who was trapped inside.

“We saw a lot of dead people. Very young people, children, old ladies, you cannot imagine,” Mr Haji told the Kenyan television station NTV.

“From what they were doing, you could tell that these were not normal people. The fact that he was making a joke out of this whole thing made me much more angry and determined to engage them, and to shame them.”

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Health insurance under Obamacare will cost individuals at least $2,988 a year on average, a price that Republican opponents may target as out-of-reach for many Americans who don’t qualify for U.S. subsidies.

While the $249 monthly payment is intended to be discounted through tax credits, less than half of people now buying insurance on their own may get that help….

The law’s long-term success “will depend on the changes that are made over the next couple of years to address the affordability issue,” said Brian Wright, an insurance analyst at Monness Crespi Hardt & Co. in New York. “If you have modifications that can help address those issues, then it will ultimately be successful. If not, then it’s an open question.”

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The US home-ownership rate has dropped to an 18-year-low at about 65 per cent ”“ down from a peak of 70 per cent before the crash ”“ and economists say it is set to fall as low as 60 per cent. Some industry watchers are now asking if the US, after a multi-decade push towards home ownership, is shifting towards being a nation of renters.

“With the housing bubble bursting, the home-ownership rate was always going to drop. In some respects this has been healthy as the country has been reversing some of the excess. Not everybody should have been homeowners,” says Michael Gapen, senior economist at Barclays. “But there is now an open question about where it will settle.”

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France has now joined a global struggle against the sexualization of women, especially girls, in public. On Wednesday [last week], the French upper house of Parliament voted to end beauty pageants for girls younger than 16.

The bill, which must still be approved by the lower house, was introduced to fend off a growing popularity of such pageants but also in response to public outrage over a French Vogue photo spread showing child models in tight dresses, lipstick, and high heels. Many in France were also upset that the company Jours Après Lunes came out with a line of “loungerie” ”“ a mix of loungewear and lingerie ”“ for girls as young as 4.

“Let us not allow our girls to think from a young age that their worth is judged only by their appearance,” said Sen. Chantal Jouanno, a champion of the pageant ban.

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Angela Merkel won a landslide personal victory in Germany’s general election on Sunday, but her conservatives appeared just short of the votes needed to rule on their own and may have to convince leftist rivals to join a coalition government.

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Gunfire and explosions were heard at a shopping mall in Kenya’s capital early Monday as a hostage standoff which has left at least 68 people dead entered its third day.

The FBI said it was investigating reports that as many as five Americans were among the group of al Qaeda-linked terrorists who raided the Westgate mall in Nairobi on Saturday.

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The Anglican Diocese of Wellington has voted to remove all of its investments in companies which extract or produce fossil fuels.

The decision came at a meeting of delegates in Palmerston North this weekend and follows a similar decision by the Anglican synod in Auckland.

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A barrage of new statistics on American living standards offers some grounds for optimism. A typical American household’s income has stopped falling for the first time in five years, and the poverty rate has stopped rising. At last, it seems, the expansion is strong enough at least to stabilise ordinary people’s incomes.

But the main message is a grim one. Most of the growth is going to an extraordinarily small share of the population: 95% of the gains from the recovery have gone to the richest 1% of people, whose share of overall income is once again close to its highest level in a century. The most unequal country in the rich world is thus becoming even more so.

You do not have to be an egalitarian to worry about this trend. Although some degree of inequality is good for an economy, creating incentives to work hard and take risks, the recent concentration of income gains among the most affluent is both politically dangerous and economically damaging.

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