Friday, August 21, 2009

Stock indexes worldwide rose on Friday, after US bank chief Ben Bernanke said that the US economy was starting to recover from the recession.

Addressing a conference in Wyoming, the bank chief said that “the prospects for a return to growth in the near term appear good.”

He added, however, that “the economic recovery is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”

The Dow Jones Industrial Average gained 155.91 points, or 1.67%, to end the day at 9505.96. The Nasdaq reached 2020.90 points after gaining 1.59%. The Standard & Poor’s 500 Index, meanwhile, struck a ten-month high, reaching a level of 1,026.13 at the closing bell, up 1.9%.

The British FTSE index rose about two percent, closing at 4,851. The French Cac index gained 3.1% and the German Dax 2.8%.

“Bernanke was a little bit more bullish than most people were expecting. He’s saying that the global economy is starting to emerge from the recession and that the fears of a financial collapse have receded substantially,” said Jacob Oubina, the currency strategist of Forex.com.

“I think the market is just taking those headlines as extreme positives for the outlook.”

Jean-Claude Trichet, the European Central Bank president, warned that talk of a complete recovery might be premature. “I am a little bit uneasy when I see that, because we have some green shoots here and there, we are already saying, ‘well, after all, we are close to back to normal,’ ” he said.

Tuesday, March 6, 2007

A full crowd showed up at the Stade de Gerland in Lyon earlier today, only to watch their home side fall to Roma of Italy. The previous leg in the series saw the two teams draw 0-0 which gave Roma a slight advantage from the start, as a draw would allow them to advance. The previous match was extremely undisciplined, and Roma was given eight yellow cards. The Italian side showed a much calmer demeanor this game, earning only two yellows in comparison to Lyon’s four.

Lyon produced the first chance of the game as Romas keeper Alexandre Doni was unable to cope with Juninho, but defender Philippe Mexes was able to clear the ball from nearby strikers. Roma had their own chance soon after, as Daniele De Rossi was left open, and he headed the ball home. The goal was disallowed by the referee after he spotted a push by De Rossi on Eric Abidal. Juninho continued to threaten Roma, but his crosses were not able to do any damage to the Rossinari. Lyon fell behind on 22 minutes when Max Tonetto clipped a cross into the middle, and Francesco Totti was in the right place to head the ball past Gregory Coupet. Crosses continued to be the only attack Lyon could muster, and they produced a good chance off a Juninho corner kick. The ball ricoched off several players before Squillaci latch on for a shot, but the ball was sent directly at Doni, and the keeper made the save. Mancini then doubled the visitors lead just before halftime. After some quick stepovers to fool Anthony Reveillere, he struck the ball soundly into the top corner of the net.

After the break, Roma could have killed off the game indefinitely, as Tadei beat Lyon’s offside trap, but was unable to regain the composure required to smash the ball home. Doni then produced a few saves for Roma, kicking out Sylvan Wiltord’s shot, and then diving to palm away a curling shot by Juninho. Both teams then made vain attempts for a penalty, but both Fred and Perrotta diving, but the referee made the right decisions and awarded only a yellow to Perrotta. Fred was then given a yellow for cruelly smashing Chivu in the face with his arm. Fred was lucky to receive a red for his actions. Roma held on for the win, and the 5 time french champions bowed out of the Champions League.

Friday, January 27, 2017

On Wednesday, German Chancellor Angela Merkel’s cabinet announced Germany is to drop the ‘lese majeste’ law which protects foreign leaders from insult. This law is to come under effect in January 2018.

German justice minister Heiko Maas called this law redundant and said, “the idea of lese majesty arose in an era long gone by. It no longer belongs in our criminal law”.

A year ago, German satirist Jan Böhmermann presented a poem on the Turkish president Recep Tayyip Erdo?an. In the poem he said Erdo?an “kicks the Kurds, smacks the Christians, all while watching child pornography”, National Public Radio reported. Böhmermann also called the Turkish leader “stupid, cowardly and uptight”.

In April, Böhmermann faced investigation, authorised by Merkel. Judges in Hamburg called the poem abusive. In October, the investigation was dropped on grounds of insufficient evidence of a crime. A final hearing on an injunction against Böhmermann is scheduled for February 10 in Hamburg.

If the measure passes, German citizens would not be prosecuted by their government specifically for dishonouring foreign leaders. However, Maas says foreign leaders have the same right as any other plaintiff to file a civil defamation suit.

The change to the law would require action by the German Bundestag.

Friday, July 22, 2005

The British Parliament approved the first stage of the new Crossrail underground railroad through London as a £15 billion construction project earlier this month. Crossrail is the first major new train line to be built in London in decades.

The rail line being implemented as a hybrid bill in Parliament. After a second reading in Parliament, it was voted upon and decided that the government will commit to the project so that the line will be built.

The next issue before Parliament of to ensure that the implementation of the bill so it is consistent with private interests of neighborhoods to be affected by Crossrail. This is when residents can petition Parliament to change the way the line is constructed.

As a result of construction of the Crossrail line, hundreds of homes will have new tunnels excavated beneath them.

On contacting Crossrail, they have indicated approximately £50 will be offered to each landowner to buy all the land rights-of-way to build the train tunnel more than 9 meters below the residential buildings. The average value for properties in the affected areas is £350,000.

Under UK compulsory purchase laws to be used in this bill, the residents are entitled to the difference in the value of the whole property with and without a tunnel under it. If the offer given by Crossrail is not accepted by any of the residents, the residents can take the case to the Land Tribunal, where the fair value will be established.

This however, could be cost prohibitive. Crossrail does not indicate that it will attempt to assign a fair value in the original offer and instead is only going to offer around £50 per property in the hope that not many people take the matter to the Land Tribunal.

Tuesday, September 18, 2007

Peter Ormond is running for the Green Party of Ontario in the Ontario provincial election, in the Hamilton Centre riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Ormond did not answer three questions: “Which of your competitors do you expect to pose the biggest challenge to your candidacy? Why? What makes you the most desirable of all candidates running in the riding?”, “Are the property taxes in your riding at a fair level for the amount of services received in the municipality?”, and “Of the decisions made by Ontario’s 38th Legislative Assembly, which was the most beneficial to your this electoral district? To the province as a whole? Which was least beneficial, or even harmful, to your this riding? To the province as a whole?”

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Thursday, September 13, 2007

A resident of Bruce-Grey-Owen Sound his whole life, Correctional Services officer Paul Johnstone is running for the Ontario New Democratic Party in the Ontario provincial election. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Thursday, September 13, 2007

On Tuesday, Microsoft launched BizTalk Server 2006 R2 with Radio-frequency Identification (RFID) technology in Taiwan. Microsoft Taiwan held a launch seminar with “Pulse the Operations with the Communication of Enterprises” topic and invited hardware and software companies to highlight the integration of RFID, SOA, and EDI with BizTalk Server 2006 R2.

At the press conference, Steven Martin (Director of Product Management for BizTalk® Server Product Group at Microsoft Corp.) mentioned the improvements to BizTalk Server 2006 R2 and the lower costs, which could increase the opportunities for enterprises. Martin also praised Taiwan for having an environment conducive to the development of RFID technology, and suggested that was the reason Microsoft Global Headquarters chose Taiwan as the first location for the product launch.

Aside from seminars and exhibitions, Microsoft Taiwan also welcomed Chang Jung Christian University, Telecommunication Laboratories of Chunghwa Telecom Co., Ltd., Tekho Inc., Formosa Petrochemical Co., Ltd., and Quanta Computer lnc. to introduce their solutions from their earlier integration and show the strength of RFID technologies in Taiwan.

After the launch series in Taiwan, Microsoft Global Headquarters announced that the next launch for BizTalk Server 2006 R2 would be Sydney, Australia on September 13, followed by Chicago, United States on October 2.

Friday, September 26, 2008

On October 14, 2008, Canadians will be heading to the polls for the federal election. New Democratic Party candidate Michael McMahon is standing for election in the riding of Prince Edward—Hastings. McMahon moved to Windsor in 1951, getting a degree in education, teaching locally and in Papua New Guinea. He served as Branch President of the Ontario Secondary School Teachers’ Federation (OSSTF), served on multiple of their major committees, and recently retired from the Hastings and Prince Edward District School Board.

Wikinews contacted Michael McMahon, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

Since being redefined in 2003, the riding includes the County of Prince Edward and the County of Hastings (except the City of Quinte West). Conservative Party member Daryl Kramp currently represents the riding, after beating a Liberal in 2004. Ken Cole of the Liberals and Alan Coxwell of the Greens are also running in the riding.

For more information, visit the campaign’s official website, listed below.

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.

Friday, December 12, 2008

Top broker and Wall Street adviser Bernard L. Madoff, aged 70, was arrested and charged by the FBI on Thursday with a single count of securities fraud, also known as stock fraud and investment fraud. He allegedly told senior employees of his firm on Wednesday that his $50 billion business “is all just one big lie” and that it was “basically, a giant Ponzi scheme (since at least 2005).” Mr. Madoff faces up to 20 years imprisonment and a fine of up to $5 million. FBI agent Theodore Cacioppi said Mr. Madoff’s investment advisory business had “deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in investors’ losses of approximately $50 billion dollars.”

The former chairman of the Nasdaq Stock Market is also the founder and primary owner of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. The firm is one of the top market maker firms on Wall Street. He founded his family firm with an initial investment of $5,000, after attending Hofstra University Law School. He saved the money earned from a job lifeguarding at Rockaway Beach in Queens and a part time job installing underground sprinkler systems.

A force in Wall Street trading for nearly 50 years, he has been active in the National Association of Securities Dealers (NASD), a self-regulatory organization for the U.S. securities industry. His firm was one of the five most active firms in the development of the NASDAQ, having been known for “paying for order flow,” in other word paying a broker to execute a customer’s order through Madoff. He argued that the payment to the broker did not alter the price that the customer received. He ran the investment advisory as a secretive business, however.

Dan Horwitz, counsel of Mr. Madoff, in an interview, said that “he is a longstanding leader in the financial-services industry with an unblemished record; he is a person of integrity; he intends to fight to get through this unfortunate event.” Mr. Madoff was released on his own recognizance on the same day of his arrest, after his 2 sons turned him in, and posting $10 million bail secured by his Manhattan apartment. Without entering any plea, the Court set the preliminary hearing for January 12.

Madoff’s hedge fund scheme may rank among the biggest fraud in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets. The scheme would dwarf past Ponzis, and it would further be nearly five times the telecommunication company WorldCom fraud and bankruptcy proceedings in 2002.

The Securities and Exchange Commission filed a separate civil suit on Thursday against Bernard L. Madoff Investment Securities and its eponymous founder Mr. Madoff. It was docketed as “U.S. v. Madoff,” 08-MAG-02735, by the U.S. District Court for the Southern District of New York (Manhattan). SEC, New York associate director of enforcement, Andrew M. Calamari, asked the judge to issue seizure orders on the firm and its assets, and appoint a receiver. The SEC pleads, among others, that “it was an ongoing $50 billion swindle; our complaint alleges a stunning fraud that appears to be of epic proportions.” It further accused the defendant of “paying returns to certain investors out of the principal received from other, different investors” for years. Madoff’s hedge fund business had previously claimed to have served between 11 and 25 clients and had $17.1 billion in assets under management. But virtually all of the assets were missing.

United States District Court for the Southern District of New York Louis L. Stanton on Thursday appointed Lee Richards, a Manhattan lawyer, as the firm’s receiver. A hearing is set for Friday, for a ruling on the SEC’s petition to grant plenary powers to the receiver over the entire firm, and an absolute asset sequestration.

Doug Kass, president of hedge fund Seabreeze Partners Management said that “this is a major blow to confidence that is already shattered — anyone on the fence will probably try to take their money out.”