May 15, 2012 Edition

The 37th day of the impeachment trial of Supreme Court Chief Justice Renato Corona brings the Ombudsman, former SC Justice Conchita Carpio-Morales. She writes the court, asking to testify first – which it grants. She reveals her office asked for the help of the Anti-Money Laundering Council (AMLC), which tracked 82 dollar accounts belonging to Corona with at least $10 million. The Ombudsman submits 17 pages which shows 705 transactions.  Rappler obtained copies of the documents which show transactions increased during the 2004 elections and after his impeachment.

Read more about the testimony  and his transactions all on Rappler.

Ateneo School of Government’s Dean Antonio La Vina calls Monday’s testimony a ‘moment of Truth’ – which if validated, he says, means the end of the trial and possible criminal charges for Corona.  Shadow of a Doubt author and Rappler Editor-at-large Marites Vitug says defense lawyers were unprepared for the hostile witness who may have brought such damning evidence because they may have been kept in the dark by their client.  Corona responds by calling the Ombudsman’s revelations ‘malicious’ and ‘a lantern of lies.’

Watch La Vina and Vitug’s analysis  Corona’s full statement and social media reactions – all on Rappler.

It’s a complicated, interwoven story steeped in family conflict and drama.  Rappler pieces together its investigation with facts established in the impeachment trial to show how Corona may have used his influence to help his wife and daughter gain control and bring P34.7 million into his accounts.  Why did the defense bring in the family feud and how did the prosecution exploit it?  

Here’s the full story on Rappler.

On May 6, a columnist fought with a celebrity couple and a 59 second video goes viral on social media. Rappler goes back and compares what they said with two eyewitness accounts to show what may happened before and after the video was shot. Patricia Evangelista writes about why this matters and what it shows about Filipino society. 

Read more about what happened and why the brothers are a reflection of the society they live in on Rappler.

‘A market carnage’ – that’s how the Wall Street Journal describes what happened to European stocks, markets and currency pummeled by fears sparked by a Greek election.  Investors dumped European stocks, sold the bonds of Spain and Italy, and pushed the euro down against the dollar Monday after the collapse of weekend coalition talks in Greece pushed it closer to an exit from the euro zone.  Add political uncertainty to the mix as austerity measures begin to bite.  On Sunday, Germany’s Angela Merkel suffered a major setback in a state vote.

Read more on the Wall Street Journal and on Rappler.  

Is China using its economic clout to pressure the Philippines into bending on Scarborough Shoal?  The diplomatic  and naval standoff enters its 5th week with China asking its tourists to avoid Philippine destinations, stranding Philippine bananas at its shores and – as Chinese media is reporting – even banning fishing in the South China Sea.  The Phiippines says its time to look for other markets, but exactly how far will China go to stake its claim and what can a much poorer nation like the Philippines do? 

Read more about China’s travel boycott, the impact on the exports of bananas and China’s South China Sea fishing ban – all on Rappler.

Nearly a week after US President Barack Obama openly supported same-sex marriage, a CBS News/NY Times Poll shows a majority of Americans support legal recognition of same-sex couples – though not necessarily through marriage – and that a significantly higher number of the youth support full marriage rights for gay and lesbian couples.  Soon after making his announcement, Obama tries to consolidate support among religious leaders.  Same sex-marriages is dividing churches in the US.

Take a look at how new political coalition, UNA, is not just the first to prepare for the 2013 elections but also reflects the political perspectives and tactics of Vice President Jejomar Binay, the dark horse in the 2010 elections  who stealthily stole the vice presidency.  In a 2-part series, Ayee Macaraig takes a closer look at the man whose vision crafted Makati, his vice-presidency and the coalition he’s building for 2013 and his bid for the presidency in 2016.

Read part 1: Binay and the politics of firsts and part 2: UNA vs LP – What’s the difference? – all on Rappler.

If all goes well, Facebook will go public on Friday, May 18, in an IPO that could value it at $100 billion – a company that didn’t exist 8 years ago.  Its 28 year old founder, Mark Zuckerberg, is speaking to investors and as the moment draws near, analysts are looking more closely at Facebook’s purchases – aside from Instagram (bought at about $1 billion) – which may give a hint about the company’s direction.  How do you get a share of Facebook?

Read more on the New York Times and on Rappler. 

The glow from last week’s Palarong Pambansa is lifting spirits around the Philippines.  2012 was seen as a “benchmark” for future Palaro games – not just for the medals won and records broken – but for the inspiring stories like the barefoot runner who broke a record and the handicapped player who’s aiming for the Olympics.  The pictures capture the spirit the Palarong Pambansa flames – where hard work and passion break down walls and make dreams come true.

Read more inspiring stories and see the captured moments here on Rappler.