EU leaders approve Mersch for ECB

EU leaders approve Mersch for ECB

BRUSSELS

European Union leaders have approved Luxembourg’s top banker for a place on the executive board of the European Central Bank, overriding the advice of Parliament, which had wanted a woman for the job.

Leaders at the EU summit in Brussels decided Thursday to fill the key vacancy at the ECB, which is confronting a heavy workload during the eurozone debt crisis with missions to verify bailed-out countries’ compliance with their loan agreements.

In an unprecedented move, the EU Parliament had voted against Yves Mersch’s appointment last month to protest the lack of women among the ECB’s top executives.

Swiss set up vote on ending tax break

GENEVA

Swiss socialists and labor unions have succeeded in putting the country’s tax breaks for foreign millionaires up to a popular vote.

The tax breaks introduced 150 years ago have helped attract foreigners like Ikea founder Ingvar Kamprad, Formula One champion Michael Schumacher and pop stars Tina Turner, Phil Collins and Shania Twain.

The government said Thursday a petition on the issue drew 103,353 signatures, enough to call for parliamentary debate and national referendum within several years.

Already, four of the nation’s 26 cantons, or states, have decided to scrap the breaks that allow the rich to pay a flat fee and avoid income tax.

That boosts local economies and banks, but creates resentment among ordinary people who pay more tax than rich celebrities.

More than 5,000 foreigners use the tax breaks.

Man accused of crime at Jobs’ house pleads no contest

PALO ALTO, Calif.

A California man accused of breaking into Steve Jobs’ house and stealing computers and the Apple Inc. co-founder’s wallet has pleaded no contest to burglarizing homes across the San Francisco Bay area.

Kariem McFarlin accepted a plea deal and was convicted Wednesday in Santa Clara County Superior Court on eight felony counts of residential burglary and one felony count of selling stolen property.

McFarlin initially was charged in August with one count each of residential burglary and selling stolen property after Jobs’ Palo Alto home was broken into in July. He apparently didn’t realize he was in Jobs’ house until he saw a letter addressed to the Silicon Valley icon, who died in October 2011.

During the 15-hour overnight heist, McFarlin took the late Jobs’ wallet and driver’s license as well as iPhones, iPads, iPods, Mac computers, champagne and $60,000 worth of Tiffany & Co. jewelry, police said.

McFarlin could face up to seven years and eight months in prison. He’s scheduled for sentencing.

Police previously said the Alameda resident confessed to breaking into Jobs’ home.

Associated Press