Week in Review

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Keystone XL pipeline construction decision, proposal for agency reorganization, online freedom protests, and more.

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  • The Obama administration announced its rejection of TransCanada’s application for a permit to build and operate the Keystone XL oil pipeline across the U.S.-Canadian border, but says it will allow the company to apply again for later consideration.
  • President Obama asked Congress for the power to streamline and combine overlapping federal agencies.
  • In the wake of the Costa Concordia accident off the coast of Italy the cruise line industry may face new regulations.
  • Website-backed protests swept the Internet to raise awareness of the Internet anti-piracy bills Stop Online Piracy Act (SOPA) and Protect IP Act (PIPA), which are working their way through the House and Senate, respectively.
  • China extended a regulation requiring users of microblogs, a popular form of online communication in China similar to “tweeting,” to register their real identities with the government.
  • Japanese bankers are mounting an effort against the Volcker rule, arguing that the restriction on U.S. banks’ proprietary trading could harm the market for Japanese government bonds.