Author: Admin

Friday, July 15, 2011

On Tuesday, the Euro fell to a new record low in relation to the Swiss Franc, and to multi-month lows against the U.S. Dollar and Japanese yen; all considered by investors to be safe currencies during times of economic turmoil.

The Wall Street Journal reported earlier that recent comments from the newly installed head of the International Monetary Fund, France’s Christine Lagarde, resulted in a sell-off of the Euro. At a roundtable discussion in Washington, Lagarde noted that the IMF had not yet reached discussion of terms and conditions of a second Greek bailout plan. In fact, a representative from the IMF is currently meeting with Eurozone policymakers to draft such a new proposal. The yield differential between Italian bonds and German bonds has spread to more than 300 basis points, something not seen in over a decade and evidence of investors’ concern.

Adding to the Euro’s woes is the upcoming release of the bank stress tests on Friday. The European Bankers Association said that they expect the data release to shed new light on the Eurozone’s banking situation. Representatives of several of the Eurozone’s governments, including Germany, have requested that the association consider releasing fewer specific details for fear that investor panic will ensue. The inadequacy of the capitalization rates has been an issue with the European Central Bank, whose president recently called upon Eurozone banks to make every effort to put their balance sheets in order.

For the time being at least, an unsubstantiated rumor reported by the Wall Street Journal states that the Eurozone’s central banks’ purchase of periphery debt has helped to quell the downward momentum of the Euro.

Tuesday, June 12, 2007

North America’s largest outdoor dog festival came back to Toronto last weekend for its fifth year. It ran from the 9th of June to the 10th of June at Toronto’s historical St. Lawrence Market. A Wikinews reporter was there on Sunday to report on some of the events that happened on the last day.

The “Woofstock” dog festival attracted as many as 140,000 people with their dogs. The festival had tons of accessories, sold under tents, to buy for dogs; food, toys, designer clothes, and more. About 400 vendors and exhibitors were there to promote their products, which also gave private dog companies or groups a chance to show their new products. The local SPCA and some animal rescues were under tents answering questions from visitors. While walking, all visitors could see the CN Tower and other very tall buildings.

One of the local TV stations, Citytv, was there. They hosted a live event at the show which was broadcast on TV. People came up on the stage and asked questions regarding their dogs and the host and co-host answered them.

A man, who called himself the “Chalk Master”, drew two pictures on pavement with chalk. He did it for free but donations were welcome. One was a picture of a girl’s head beside a dog’s head, and another with a wolf.

“Hello Humans. I’ve been invited here to provide your eyeball(s), with some pretty colours. I don’t get paid as I work this weekend strictly for tips… so, if you like what you see please make a DONATION. If you don’t like it simply reach into the pocket of the person next to you and give me their money. CHALK MASTER.”

A contest called “Canada’s top dog” had its own tent with a professional photographer taking pictures of dogs behind a white screen; the winning photo is to be published on the cover of “Puppy and dog basics” magazine.

Large “Gourmet” dog bones were also served from a cart and table.

Next year’s festival is expected to be bigger and better with even more attractions.

Thursday, October 22, 2020

2020 Melbourne Lord Mayor candidate Wayne Tseng answered some questions about his campaign for the upcoming election from Wikinews. The Lord Mayor election in the Australian city is scheduled to take place this week.

Tseng runs a firm called eTranslate, which helps software developers to make the software available to the users. In the candidate’s questionnaire, Tseng said eTranslate had led to him working with all three tiers of the government. He previously belonged to the Australian Liberal Party, but has left since then, to run for mayorship as an independent candidate.

Tseng is of Chinese descent, having moved to Australia with his parents from Vietnam. Graduated in Brisbane, Tseng received his PhD in Melbourne and has been living in the city, he told Wikinews. Tseng also formed Chinese Precinct Chamber of Commerce, an organisation responsible for many “community bond building initiatives”, the Lord Mayor candidate told Wikinews.

Tseng discussed his plans for leading Melbourne, recovering from COVID-19, and “Democracy 2.0” to ensure concerns of minorities in the city were also heard. Tseng also focused on the importance of the multi-culture aspect and talked about making Melbourne the capital of the aboriginals. Tseng also explained why he thinks Melbourne is poised to be a world city by 2030.

Tseng’s deputy Lord Mayor candidate Gricol Yang is a Commercial Banker and works for ANZ Banking Group.

Currently, Sally Capp is the Lord Mayor of Melbourne, the Victorian capital. Capp was elected as an interim Lord Mayor in mid-2018 after the former Lord Mayor Robert Doyle resigned from his position after sexual assault allegations. Doyle served as the Lord Mayor of Melbourne for almost a decade since 2008.

Monday, March 19, 2007

A 34 year old obstetrician from Forestville on Sydney’s Northern Beaches has escaped after he was robbed, car-jacked and locked in the boot (trunk) of his BMW, which was set alight. Police say the doctor was locked in the boot while his car was set alight, but was allowed to escape before flames engulfed the vehicle.

The Doctor was believed to have been heading to The Mater Hospital in North Sydney when he was waiting at the intersection of West and Falcon Streets in Chatswood around 3:15AM AEDT when a small red sedan with two men claiming to be police officers signalled him to stop. After crossing the intersection, the doctor stopped his car at the side of the road.

The doctor was then approached by the two men and when he asked to see identification, one man grabbed the keys from his car’s ignition before they both pulled the doctor out of his vehicle, hit him in the stomach with a hammer and stole his mobile phone and wallet. The robbers also demanded his key and credit cards along with their access codes before locking him in the boot.

Police allege that the men drove to several locations to withdraw cash and buy things before driving to Carisbook Street in Linley Point at around 4 a.m. local time where they set the car alight with the doctor still in the boot.

Crime Manager of the Harbourside Local Area Command, Detective Inspector Houlahan said that the doctor then “heard a click in the boot area and he heard someone call out: ‘Get out of the car'”

“When he pushed the boot up he found his car engulfed in flames.”

Det. Insp. Houlahan said the doctor told police he did not unlock the boot himself, and it appeared the man’s captors unlocked it before fleeing.

Det Insp Houlahan said that the doctor appeared to be “very distraught” and tired after the ordeal, and wanted to get home and see his wife and two young daughters.

He could only provide police with a vague description of his captors, but said the men were both Caucasian males aged in their 20s, and that one of them was about six feet tall (183cm) with short blond hair and medium build said Det. Insp. Houlahan.

Saturday, September 10, 2005

Santa Clara, California, USA. The adult literacy program Read Santa Clara marked its tenth anniversary today with a gathering of program participants, staff, and supporters from the community. Read Santa Clara trains volunteer tutors and matches them with adult learners who wish to build their literacy skills.

In the presentation, program staff and supporters reviewed the program’s history and growth, honored long-time participants, and looked toward the future.

Santa Clara Mayor Patricia Mahan spoke at the gathering, noting, “Read Santa Clara joins people who need to learn with people who need to teach, and what a powerful combination that is.” She added, “I think adult literacy is so important.”

Program coordinators estimate that tutors volunteered some 5000 hours last year. City Manager Jennifer Sparacino estimates, “That’s worth about $100,000 per year in volunteer time.”

Learners also spoke about what Read Santa Clara meant to them. Raymond Moreno said, “I hope it stays for another ten, twenty, thirty years, because we need it.” Juan Velasquez said, “My life has changed a lot…I did many things I could not have done without help.” And Ike Moore said, “To be able to express myself…What a gift!”

Monday, June 1, 2009

In a televised speech from the White House at 16:00 UTC today, President of the United States Barack Obama presented a reorganization plan following the 12:00 UTC announcement by General Motors that it had filed for bankruptcy and Chapter 11 protection from its creditors, the largest bankruptcy of a U.S. manufacturing company.

Describing the problem with the company as one that had been “decades in the making,” Obama explained the rationale behind his proposed reorganization plan for General Motors. He stated that his intent was not to “perpetuat[e] the bad business decisions of the past,” and that loaning General Motors money, when debt was its problem, would have been doing exactly that. His plan, he stated, was for the United States government, in conjunction with the governments of Canada and Ontario (which he thanked for their roles alongside the government of Germany which he thanked for its role in selling a corporate stake in GM Europe), to become shareholders in General Motors. The United States government would hold a 60% stake. The government will give GM a capital infusion of US$30 billion in addition to the funds it has already received.

Of the government ownership he stated that he refused “to let General Motors and Chrysler become wards of the state”, and described the bankruptcy of Chrysler, and the bankruptcy of General Motors that he envisioned as being “quick, surgical, bankruptcies”. He pointed to the bankruptcy of Chrysler as an example of what he envision for General Motors, but stated that General Motors was a “more complex company” than Chrysler.

Responding to challenges voiced by political opponents, before the speech, that the federal government would actively participate in the affairs of the restructured company, he stated that he had “no interest” in running GM, and that the federal government would “refrain from exercising its rights” as a corporate shareholder for the most part. In particular, he stated that the federal government would not exercise its rights as a shareholder to dictate “what new type of car to make.” He stated that he expected the restructured GM to make “high quality, safe, and fuel-efficient cars of tomorrow,” and several times described what he anticipated as “better” and “fuel-efficient” cars, after a streamlining of GM’s brands.

He said to the general public that “I will not pretend that the hard times are over.” He described the financial hardship that some — shareholders, communities based around GM plants, GM dealers, and others — would undergo as a “sacrifice for the next generation” on their parts, so that their children could live in “an America that still makes things,” concluding that one day the United States might return to a time when the maxim (a widely-repeated mis-quotation of what Charles Erwin Wilson once testified before the U.S. Senate when nominated for the position of Secretary of Defense) would once more be true that “what is good for General Motors is good for the United States of America.”

Wednesday, May 10, 2006

An Australian munitions factory exploded in South Australia. Two people were killed, another two were injured and one is still missing.

The factory produced explosives for quarrying, civil engineering and the military.

The explosion leveled everything within 100 metres and could be heard from 70km away.

Emergency services have been held back to a one kilometre radius of the factory until an explosives expert from Adelaide could come.

“It’s very dangerous, so we’re holding back,” police inspector Phil Warwick said, “It’s an explosives factory. All right it’s exploded, but that doesn’t mean all the explosives have gone. There’s still smoke coming from the area, which means there must be fire or heat. Put them (remaining explosives and fire) together and we could have another (explosion).”

Wednesday, November 2, 2005

Justice John Gomery has released a preliminary report into Canada’s Sponsorship Program, which was run from 1996 to 2003 by the federal Public Works Department to win support for federalism in Quebec. The program has recently come under fire for allegedly scandalous practices and has been accused of being a front to reward Liberal Party supporters.

The issue came to a head in the spring of 2002, when the Globe and Mail, using Canada’s Access to Information Act, discovered that $550,000 had been paid to Groupaction Marketing for a report that could not be located.

Former Prime Minister Jean Chrétien then ordered Auditor General Sheila Fraser to look into the matter, who promptly launched a full investigation with assistance from the Royal Canadian Mounted Police. In 2004, Fraser’s audit was released and found that over $100 million was incorrectly paid to communications agencies rather than for social and cultural events which was the original intention of the program.

According to Fraser, officials “broke just about every rule in the book.”

Under intense criticism from both the public and opposition parties Prime Minister Paul Martin launched a public inquiry into the scandal which was to be headed by Justice Gomery.

The report found evidence of political involvement in the handling of the program, and found an “implicit link between the contributions and the expectation that the government contracts would be awarded.”

The report also claims that Chrétien holds some personal responsibility for the mismanagement. “Since Mr. Chretien chose to run the program from his own office,” the report reasoned “he is accountable for the defective manner in which the sponsorship program and initiatives were implemented.”

Among those accused of wrongdoing are Jean Pelletier (Chrétien’s former chief of staff), Chuck Guité (the bureaucrat in charge the program), Jacques Corriveau (president of PluriDesign Canada), and Jean Brault (president of Groupaction).

Thursday, May 17, 2007File:Francois fillon1.jpg

The new President of France, Nicolas Sarkozy has appointed François Fillon to head the new French government. Fillon’s predecessor Dominique de Villepin stepped down yesterday, and formally handed over the post during a ceremony today.

The nomination did not come as a surprise after the British newspaper the Financial Times had reported on May 8 that Sarkozy had introduced Fillon to Tony Blair in a telephone conversation.

François Fillon (53) has been the political advisor of Sarkozy in the UMP for the past 2 years, and he was Sarko’s campaign leader during the recent presidential elections. Fillon has experience in negotiating with the trade unions, having undertaken controversial reforms of the 35-hour workweek and the pension system. Sarkozy in his inauguration speech on Wednesday reiterated his plans to reform the French labour and social system, and Fillon will have to oversee these reforms as the new Prime Minister. Sarkozy said he wants to make the economy more flexible and lessen social tensions.

The Guardian reported that Fillon is an Anglophile; his wife Penelope Clarke, with whom he has 5 children, was born in Wales. Ideologically, Fillon is being described as a moderate left-leaning member of the conservative UMP party.

Fillon had his first experience as a minister in 1993 when he became Minister for the Higher education and Research under PM Édouard Balladur. He later became Minister for the Post office, Telecommunications and Space, then Minister for the social Affairs, Work and Solidarity, and finally Minister for national Education, the Higher education and Research. At the university, he studied public law and political sciences.

Sarkozy might announce his cabinet of 15 ministers as early as Friday, half of which are going to be women, he said. Fillon will lead the UMP in the parliamentary elections next month. A poll on Wednesday predicted a 1.5% increase in votes for the UMP, up to 40%, compared to 28% status-quo for the allied socialists.

Reports say that Sarkozy has offered the foreign minister post to Bernard Kouchner, co-founder of Médecins Sans Frontières, who is seen as being on the left in French politics.

Saturday, January 14, 2017

At 1:30 a.m. on Thursday morning the United States Senate voted to include the repeal of the Affordable Care Act, better known as Obamacare, as part of a budget blueprint. This procedural measure allows most of Obamacare to be repealed by a simple majority rather than the usual requirement of 60 out of the senate’s 100 votes and effectively prevents the use of filibuster.

“We’re working with legislative leaders at this very moment to begin to craft legislation that will repeal the most corrosive elements of Obamacare — the individual mandate, the taxes, the penalties — but at the same time, moving separate legislation that will allow us to introduce the kind of reforms in American health care that’ll lower the cost of health insurance without growing the size of government,” said Vice President-elect Mike Pence.

Democratic Senator Maria Cantwell of Washington had a different view, going so far as to call this “stealing health care from Americans.”

The filibuster is a last-ditch tactic in which parties opposed to a certain motion refuse to relinquish the floor until their opponents give in or compromise.

Although the 51-48 vote was mostly along party lines, some Republicans have expressed uncertainty about repealing Obamacare before a replacement system is worked out. Although president-elect Donald Trump has called for a “repeal and replace” plan, saying that a new health care system would be enacted “almost simultaneously,” many in government and the press have expressed doubts about whether this would actually happen.

Senator Susan Collins of Maine said she would like to at least see a well-constructed plan before voting and Senator Johnny Isakson of Georgia said repealing Obamacare without replacing it was “unacceptable.” These concerns were shared by members of the House of Representatives. “We need to be voting for a replacement plan at the same time that we vote for repeal,” added Representative Mark Meadows of North Carolina. Representative Tom MacArthur of New Jersey agreed, saying, “We’re loading a gun here. I want to know where it’s pointed before we start the process.”

Anna Merlan of Jezebel and Anthony Taylor of the Associated Press dismiss Trump’s timeline as “impossible” given the complicated nature of U.S. congressional workings. Senator Collins agreed, saying “I don’t see any possibility of our being able to come up with a comprehensive reform bill that would replace Obamacare by the end of this month. I just don’t see that as being feasible.”

The Affordable Care Act, which is often cited as a key accomplishment of the Obama administration, has had a mixed reputation, and many conservatives believe a market-based health care system would be more flexible and efficient and less costly, and many believe that the Affordable Care Act only passed because of Obama’s later discredited pledge that no one who liked their current health plan would have to switch. Matt O’Brien of The Washington Post claims a large tax cut that would result for the wealthiest 1% of citizens if Obamacare funds were not converted to other purposes, estimated at about $32,820 annually per person by the Tax Policy Center, is also a significant motive.

Republican Senators set a date of January 27 to repeal Obamacare, according to NBC News. House Majority Leader Kevin McCarthy of California says legislation repealing Obamacare and replacing it could ready by late February. According to Democratic Senator Bernie Sanders, as many as 30 million people could lose their health insurance if the ACA is repealed.