SABC Probe Finds R1,4bn In Misuse Of Funds, Fraud – The Special Investigating Unit (SIU) is investigating misuse of funds and fraud amounting to R1,4bn at the SABC. The extent of the fraud and misuse of public funds comes as the SABC is once again appealing to the government for a bail-out. [businessday]

The Fight For Libya Oil Begins – World leaders gathered in Paris to show united support for the rebels who toppled Col. Moammar Gadhafi and to discuss how best they can help rebuild the North African country, but a rift emerged over who should get first access to Libya’s oil and natural gas riches. Col. Gadhafi, however, issued a reminder from hiding Thursday that the fight wasn’t over yet. He said tribes loyal to him were armed and preparing for battle. [wallstreetjournal]

Silvio Berlusconi Says He Doesn’t “Give A Fuck” And Wants To Leave “Shitty Italy” – In a sign of his frustration at the investigations into his alleged crimes and misdemeanours, Silvio Berlusconi vowed in July to leave Italy, which he described as a “shitty country” that “sickened” him. The Italian prime minister’s astonishing remarks are contained in the transcript of a telephone conversation secretly recorded by police investigating claims he was being blackmailed about his sex life. [guardian]

4.2 Earthquake Rumbles Through Los Angeles – A magnitude 4.2 earthquake fluttered through much of Southern California on Thursday afternoon, the largest quake to be felt in the Los Angeles area in more than a year. But the shaking was so soft many people just carried on with their day. [latimes]

Vanity Fair Unveils “New Establishment List” – This year’s New Establishment list identifies the top 50 of an innovative new breed of buccaneering visionaries, engineering prodigies, and entrepreneurs—“The Age of Information gives way to a burgeoning Age of Technology,” as Graydon Carter puts it. [vanityfair]

Laser Machine Gun Will Be Tested On Pirate Ships – Two defense giants, Boeing and BAE Systems, announced late last month that they would team up on a $2.8 million Navy contract for a prototype version of BAE’s Mk-38 25-mm machine gun with a little upgrade: a death ray. As the companies excitedly explained, the new gun would protect surface ships from pretty much everything, from enemy boats to small drones. [wired]

Germany Unveils The Prostitution Tax Meter – Prostitution is legal in Germany. It’s also taxable. While it’s fairly easy to collect a “sex tax” from brothels, “sauna clubs,” and other sex purveying establishments, it’s trickier to make sure freelance streetwalkers pay up. The city of Bonn has a solution: An automated street meter where prostitutes pay a nightly fee to ply their trade. [theweek]

Springboks Chase R50m – It’s the big Bok secret, but The Times understands that the 47 players and staff who make up South Africa’s team to the Rugby World Cup stand to win a total of R54-million in bonuses if they successfully defend the Webb Ellis trophy over the next two months. That figure is based on what the team’s support staff stands to earn at the tournament in New Zealand – if the Boks win the final on October 23. [timeslive]

Malema’s Fight-Back Strategy – Julius Malema’s legal team is seeking to highlight what it says is uneven treatment in the charges he faces. The team queried each charge, questioning whether it truly violated the ANC’s constitution. It also asked whether the party was exercising discipline consistently over all party members. [mail&guardian]

Space Junk Passes “Tipping Point” – Space debris has passed the “tipping point,” according to a report released Thursday by the National Research Council, which called on NASA to find ways to better monitor and clean up the orbiting junk threatening active satellites and manned spacecraft. Oh dear. [washpo]

Storyteller App Turns Facebook Posts Into Sponsored Stories – Facebook launched Sponsored Stories in January and pitched it as a more social and engaging ad format. Brands can turn user activity such as checkins, wall posts and likes into a small advertisement that appears to the right of the Newsfeed. If your friend checks into a Starbucks via Facebook, his or her checkin could make an appearance as a sponsored post the next time you open up your Facebook account. [mashable]

London Olympics Not Into Any Carbon Offset Vibes – Organizers of the London 2012 Olympic Games dropped a plan to cut carbon emissions during the sporting showcase, abandoning a pledge made when it defeated eight other cities to host the event. Games administrators will “no longer pursue formal offsetting procedures” to mitigate Olympics-related emissions, documents posted on the London Olympics website said. [bloomberg]

Are You Part Of Generation Limbo? – Meet the members of what might be called Generation Limbo: highly educated 20-somethings, whose careers are stuck in neutral, coping with dead-end jobs and listless prospects. [newyorktimes]

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