Stock markets worldwide fall dramatically

Wednesday, September 17, 2008

Stock markets around the world, particularly those in the United States, have fallen dramatically today. This is due to the ongoing events in the financial world, including the bailout of large insurance firm AIG by the US Federal Reserve.

The primary UK index, the FTSE 100, dropped in value by 2.36%, which is 118.40 points, to below the 5000 mark at 4907.20. The Dow Jones was down 2.62% at 16:08 UTC, a slight increase from earlier today. The Dow Jones currently has a value of 10769.00 points. The Nasdaq index has fallen by 3.16% to 2138.14, while the Dax was 1.75% lower than the start of the day as of 16:08 UTC.

The Japanese index the Nikkei was one of the few to rise in value over the day. It ended up 1.2%, although this follows a large fall in the value of the index when it hit an all time low yesterday.

Darren Winder, a market analyst from Cazenove, said that “I don’t think anyone has got any or much confidence in market direction for more than a few days.”

A lot of today’s activities in the market were related to the takeover of the American International Group (AIG) on Tuesday in an US$ 85 billion loan, in exchange for a 79.9% stake in the company.

The fact that AIG has thousands of divisions engaged in business across the globe sets them apart from the recent problems with other banks. AIG was built up over the last several years via the buyouts and mergers of many companies around the world, offering AIG’s stockholders a diverse base of income which allowed it to steadily increase profits.

In addition, the markets have also had difficulties during the past week after the refusal of the Federal Reserve to bail out Lehman Brothers, forcing the company to file for bankruptcy on Monday after Bank of America (BoA) and Barclays PLC pulled out of negotiations over the weekend.

Seven bushfires near Perth, Western Australia

Sunday, February 4, 2007

Fourteen houses have been destroyed and another 3 damaged by a bush fire burning in Jarrah forests and farmland near the historical timber town of Dwellingup 70km south east of Perth, Western Australia.

The fire has also destroyed approximately 100 power poles, leading to a loss of telecommunication services to the town and affecting water supplies. Mobile generators have been installed for emergency power.

Steve Slavin, spokesman for Department of Environment and Conservation (DEC), said that 250 fire-fighters are containing the fire with crews concentrating on the southern front, which is now within 3 km of the town.

Mr Slavin said “Our concern is that winds this afternoon will be swinging around to the south and increasing in intensity.” “It’s making us nervous. The advice we’re giving to people in Dwellingup is if they’ve decided that they will leave, this would be a good time to do it”

In separate fires near North Yunderup, Greenfields and Parkland have affected transmission lines supplying power to approximately 56,000 properties.

Additional fires are burning near Toodyay 85km north east of Perth, Another fire is burning near Williams approximately 160 south east of Perth and 90Km east of Dwellingup. And in the southern rural suburb of Forrestdale. These fires are reported to be under control.

Western Australian Police Arson squad are investigating these fires as some appear to be deliberately lit. The Police are also investigating the death of a women in her mid 20’s who died on Saturday after her car rolled while fleeing the fire near Toodyay.

Montreal mayor Michael Applebaum arrested for corruption

Tuesday, June 18, 2013

Michael Applebaum, the current interim mayor of Montreal, Québec, Canada, was arrested at about 6am local time (1000 UTC) yesterday morning by the Unité permanente anticorruption ((en))French language: ?Permanent Anti-Corruption Unit on fourteen charges including corruption, fraud, breach of trust, and conspiracy, including reportedly a C$50,000 bribe.

Commissioner Robert Lafrenière said the alleged illegal acts occurred between 2006 and 2011 and relate to two real-estate projects in the Côte des Neiges-Notre Dame de Grâce borough. The CBC indicated one of these projects was the borough’s new 15 million dollar sports complex. Applebaum is now one of several Québec mayors who have been accused of corruption in the past few years, including the previous Montreal mayor Gérald Tremblay and Laval Mayor Gilles Vaillancourt.

Several politicians are calling on Applebaum to resign, including Québec Premier Pauline Marois, to let the city continue on with its affairs. A few others, such as Coalition Avenir Québec leader François Legault, are suggesting to put the city on a trusteeship as Laval was a few weeks ago, but Municipal Affairs Minister Sylvain Gaudreault says this will not happen, as only a few people are implicated, unlike Laval, where nearly the entire city council was implicated.

Two other people were arrested on charges related to the same real-estate deals: Saulie Zajdel, former city councillor, on five charges; and Jean-Yves Bisson, a bourough official, on four charges.

A second interim minister is to be nominated for the rest of Tremblay’s term, until the next municipal election is held in November.

‘The Gates’ opens in New York City

Wednesday, February 16, 2005

New York, New York –On February 12, 2005, at 8:30 a.m., New York Mayor Michael Bloomberg dropped the first piece of fabric in The Gates, a land art project by Christo and Jeanne Claude.

The artists installed 7,500 metal “gates” along 23 miles of pathways in New York City’s Central Park. Each gate supported a flag-shaped piece of saffron fabric. The project is scheduled to run from Feb. 12, 2005 through Feb. 27, 2005. The project is sometimes referred to as “The Gates, Central Park, New York, 1979-2005″ in reference to the time between the artists’ initial proposal and the present day.

French film director Alain Corneau dies at age 67

Tuesday, August 31, 2010

Alain Corneau, a French film director, has died at the age of 67. His death was announced by the Artmedia talent agency. The cause of death was announced as cancer.

Born on August 7, 1943, Corneau’s first interest was music. He later went to Paris to study filmmaking. Before the success of his first film, Corneau attempted to make a documentary about New York and an adaptation of a novel. After working as assistant director on L’Aveu with Costa Gavras he directed his first film in 1973, France, Inc.

Corneau’s other films include La Menace, Fort Saganne, and the highly successful Tous les matins du monde.

Tous les matins du monde received 11 César Award nominations and won seven of them. The awards included Best Film, Best Director, and Best Music. Corneau said in a 1992 interview in the New York Times that “Many people got emotional about this film, and that made it possible for it to escape cult status.”

French President Nicolas Sarkozy commented on the death of Corneau. He said “Corneau was a courageous man and a great director.”

Corneau was set to appear at the Toronto Film Festival in September.

Sri Lanka accepts ‘One China’ policy

Monday, March 28, 2005

Sri Lankan Ministry Of Foreign Affairs said the government accepts Beijing’s “One China” policy and that Taiwan is an inalienable part of the People’s Republic Of China, according to a March 17 press release.

The current foreign Ministry communiqué, recollects the press communiqué issued by the Foreign Ministers of China and Sri Lanka in Beijing in December 2004. Sri Lanka reiterated its support for Chinese legislative measures to oppose forces seeking to secede from China.

In the communiqué, the Sri Lankan government categorically mentioned, Sri Lanka opposes secessionist actions in any form and fully supports a process of peaceful national reunification. The Sri Lankan government further said, it welcomes growing cross-Straits economic and other exchanges such as the promotion of direct trade, mail, air and shipping links.

In the mean time, Chinese President Hu Jintao issued a presidential order regarding the promulgation of the Anti-Secession Law on March 14, which was adopted at the Third Session of the Tenth National People’s Congress, China’s top legislature.

Injunction fails to stop decision on waterfront stadium in New Zealand

Thursday, November 23, 2006

Today an injunction that was filed in the High Court yesterday to stop the Auckland City Council and Auckland Regional Council from telling the Government which stadium they prefer has failed. The decision is over a new stadium located on the waterfront of Auckland, New Zealand or an upgrade of the already existing, Eden Park, Auckland. The stadium is for the final of the Rugby World Cup 2011, which New Zealand is hosting.

The injunction was filed by a group of five Aucklanders who believe that the decision is being rushed. The injunction was filed in the name of a private citizen to represent a group of five Aucklanders. Rodney Hide, leader of the ACT party and Member of Parliament (MP) and MP for the Green party, Keith Locke, are helping the fight for the injunction as they believe the Aucklanders have a strong case.

Justice John Priestley said that the group did not need this injunction because they could fight the stadium decision in the future by different means. A second injunction has already been filed for two days, starting December 11.

Mayor of Auckland, Dick Hubbard, said: “The council’s advisors have informed that processes have been proper and appropriate.”

Rodney Harrison, Queens Counsel (QC), said: “The group that lodged the injunction were Auckland ratepayers, residents and concerned citizens but none of whom could be called high profile. I have no idea what those decisions might be. Exactly how the defendants (local government) react to central Government requests or pressure is a matter for them.”

ARC chairman, Mike Lee attacked his own counsel Brian Latimore for failing to follow instructions at today’s High Court injunction hearing. The instruction were “not to oppose any injunction, merely to assist the court by explaining what was going on and leave the argument to the judge and the other parties.”

Mr Lee said: “We were there as peacekeepers not combatants and it seems this guy has gone in and opened fire.”

Patrick McGuire, one of the five Aucklanders who had sought the injunction, said that Mr Hide had introduced all of them to each other after they each wrote a letter to him with their concerns. Mr McGuire said it requires “public input”.

Mr Hide said that he “had acted as a middle-man, arranging for the members of the group to meet with lawyers.” Mr Locke and Mr Hide are working together because they are concerned the legal processes of the decision over which stadium will be chosen and how the decision will be made. Mr Hide said he did not like the waterfront stadium, “I’m not a lawyer but the legal advice we have had is that the injunction has a high chance of succeeding.”

The two councils, Auckland City and Auckland Regional, have been consulting the affected groups to see which decision they should go with. The Auckland City Council is currently in a meeting discussing the stadium decision and the Regional Council will do it tomorrow.

If the waterfront stadium was chosen then the stadium will be located on Ports of Auckland land and they want a guarantee that their running of the ports will not be affected. Denis Carlisle, president of the local Maritime union, said: “The Ports of Auckland are asking for guarantees that they will not suffer any financial loss from the stadium project, and likewise the Maritime Union will be seeking compensation for our members for any loss of work. The issue was about safeguarding Port of Auckland’s role as a major working port.”

“[The Ports of Auckland] is one of the key gateways between New Zealand and the global economy.”

Broken pipes cause flood in Darwin D. Martin House in Buffalo, New York
 Correction — February 13, 2008 The break was a broken sprinkler head in a crawl space above the shop, according to Jeffrey A. Salmon Facilities Manager of the Martin House Restoration Corporation. Not a pipe. 

Tuesday, February 12, 2008

Buffalo, New York —According to radio communications by the Buffalo, New York Fire Department, at approximately 10:15 p.m. EST two water pipes inside the Darwin D. Martin House, a National Historical Landmark, broke causing several rooms to flood.

The breaks were discovered in the gift shop area of the house but quickly began to flood other areas near the shop as firefighters had a difficult time locating the main shut off valves.

At 10:50 p.m., firefighters reported to have shut off “several main valves” stopping the flow of water. The cost of the water damage is not known, but covered several rooms. Recent sub-zero temperatures in the city is said to be the cause of the break. At the time of the call, the temperature was only 10°F with a wind chill of 4°F above zero. On Sunday the temperature was only 3°F with a wind chill of -23°F.

The house, designed by Frank Lloyd Wright, has seen rough times over the years, experiencing problems such as vandalism. The first half of the complex was built in 1903 and finished in 1905. After the pergola, conservatory, and carriage were demolished, restoration and rebuild began in 1992 and is scheduled for completion in 2008 or 2009.

Four coalition soldiers die in Kandahar helicopter crash

Tuesday, June 22, 2010

File:Australian SF Afghanistan Oct 2009.jpg

Less than two weeks after two Australian soldiers (Diggers) died in the explosion of a roadside bomb, three more Diggers and a US soldier were killed early yesterday morning in a helicopter crash in southern Afghanistan, while seven other soldiers are being treated for injuries.

Australian Defence Force Chief Angus Houston said in a statement this afternoon that two of the crash survivors are in a serious condition and will be moved with the other survivors to the US military hospital in Begram.

The crash occurred at 03:39 yesterday local time (23:09 on Sunday, UTC) in the north of Kandahar province. Although the cause is still unknown, Houston said “the terrain is rugged, the helicopters are often heavily loaded, it’s at high altitude and it was three o’clock in the morning. All of these factors will no doubt be considered”. Houston confirmed that enemy fire was not to blame for the crash.

These new casualties in the Afghan War brings Australia’s death toll to sixteen, while that of the US comes to 1128 since the war began in 2001.

Despite this, Prime Minister Kevin Rudd, remains firm on the issue: “We work beside our allies […] to avoid Afghanistan once again becoming a breeding ground for terrorists who can then strike at innocent Australians both at home and abroad” and continued by saying that all Australians owe the soldiers a debt of gratitude for making the ultimate sacrifice in the line of duty.

Although the names of the soldiers have yet to be released, the tragedy follows last week’s casualties where Australian combat engineers Darren Smith, age 26, and Jacob Moerland, age 21, were killed along side their bomb sniffer dog, Herbie in a roadside blast.

Esthetician Classes Are The Key To Helping Clients Look Their Best

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byAlma Abell

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