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Monday, February 4, 2008

The third day of New York Fashion Week debuted styles infused in ’70s couture, punk and hard rock roots. Labels Herve Leger, DKNY and Rock & Republic unveiled their Fall 2008 lines, and continued the retro bent popular in the first two days of the world’s largest fashion show.

Max Azria’s Herve Leger label showed off his signature skintight dress in multiple styles Sunday, experimenting with knit fabric as well as coats to complement the dress. Unafraid to take risks, Azria also unveiled elaborate variations which called for sequins, ribbons and large bows, the latter of which was another nod to late ’70s fashion. Model Padma Lakshmi walked the runway for Azria, as did actress Sophia Bush and singers Joss Stone and Mandy Moore.

DKNY, the main label for designer Donna Karan, took the idea of ’70s couture and modernized it, deeming her Fall collection “eclectic glamour.” Retro styles such as bow blouses, pants bordering on the bell-bottom design, and peasant fashions were interspersed with more modern knits, silk and plaid designs for tops, dresses and jackets, respectively.

Rock & Republic’s theme was “gangster chic,” and was the biggest contributor to the hard rock feel. Unlike most shows, a complete orchestra with baby grand piano set the soundtrack for the show, which unveiled designs almost exclusively in a somber black. Designer David Cardona was credited with the rock designs, which included black suits and trenchcoats, and are a departure from the high-end denim looks the label is usually known for.

New York Fashion Week runs until Friday. On Monday Carolina Herrera and Betsey Johnson are considered to be the biggest draws at Bryant Park.

Friday, April 23, 2021

On Tuesday, Finance Minister of Ireland Paschal Donohoe criticised talks co-ordinated by the Organisation for Economic Co-operation and Development (OECD) for a global minimum corporate tax rate, arguing smaller countries like Ireland “need to be able to use tax policy as a legitimate lever to compensate for the real, material and persistent advantage enjoyed by larger countries”.

Speaking to virtual attendees at a virtual seminar about international tax, Donohoe said any deal must “accommodate Ireland’s 12.5% rate”. This 12.5% rate benefits large corporations including Apple, Google and Facebook which account for one in eight jobs in the country. According to CNBC, corporate tax receipts in Ireland totalled €11.8 billion in 2020, and the Department of Finance has projected, according to The Irish Times that figure increase from €11.6 billion in 2021 to €12.5 billion by 2025.

Donohoe also said Ireland’s low taxes serve as an incentive to attract jobs and investment, saying while he supported an agreement with “appropriate and acceptable tax competition”, it must be lower than the 21% proposed by the United States.

Donohoe said nations should recognise the low tax rates present in Ireland and other small countries, citing “advantages of scale, location, resources, industrial heritage” present in larger ones. Defending his own long-established rate, Donohoe said a 12.5% rate is “within the ambit of healthy tax competition” as a rate which “stimulate[s] investment, growth and innovation, which are core to Ireland’s industrial policy”. According to The Guardian, current proposals would shrink Ireland’s corporate tax base by 20%; and tax receipts to be €2 billon lower than it would otherwise be in 2025, per Irish Department of Finance.

Brian Keegan, the director of public policy at Chartered Accountants Ireland said it was “not tax change, it’s political change”. Head of tax for the OECD Pascal Saint-Amans said “there is a new dynamic that is likely to bring us to a resolution”, and the US’ willingness to address expressed concerns simplifies an admittedly-complex blueprint.

A spokesperson for the Irish Department of Finance told CNBC on Monday “political level discussions on these issues have not yet taken place”.

The Guardian reported many companies in Ireland pay less on revenues as compared to other countries; with Apple paying as little as 0.005% in 2014. A European Commission ruling in 2016 ordered Apple to pay €13 billion it owed back taxes to the Government of Ireland ; it was struck down in July on the grounds “[t]he commission did not succeed in showing to the requisite legal standard that there was an advantage.”

Sunday, December 11, 2005

A series of large explosions have occurred close to Hemel Hempstead Hertfordshire, UK. The source of the explosions has been confirmed as the Hertfordshire Oil Storage Terminal (HOSL), Hemel Hempstead, known locally as the Buncefield complex. Up to 150 fire fighters are reported to be at the scene with 10 fire appliances and 1 specialist foamer.

The first ‘blast’ was heard near Hemel Hempstead on Sunday 11 Dec at 6 am. Further smaller explosions followed at 6:24am , 6:26am, 6:30am. BBC News 24 reported an additional, fourth large explosion. Hertfordshire Police Constabulary are currently treating the explosion as an accident.

Reports say the explosion, which registered 2.4 on the Richter scale, was heard as far away as Oxford, and Whitehall, Central London which is 60km (38 miles) away. Eyewitness statements report that the explosion was heard from at least 160km (100 miles) away and as far away as France and The Netherlands. Pilots reported noticing the blast from the North Sea and the West Country area of the UK. The M1 motorway which runs close by has been closed in both directions near the blast which is causing travel chaos as other roads become congested.

Malcom Stewart, a BBC News24 eyewitness who is a tanker driver for the site has reported that the site supplies several oil companies and is a joint operation between Total UK and Texaco, it is also used by BP, Shell and the British Pipeline association. The complex is not a refinery but a storage facility for refined petroleum awaiting distribution to airports and filling stations. The eyewitness reports that the depot has approximately 20 tanks which can hold about 3 million gallons (11 million litres or 70,000 barrels) each. Another News24 eyewitness has just reported that he has seen at least 5 of these tanks on fire.

The depot operates on a 24 hour basis and is split into 2 parts – aviation fuel and domestic fuel. A number of eyewitnesses have reported on UK news that the aviation fuel side appears to be the part of the site that has been affected.

Local authorities were not immediately available for comment but there have been reports of casualties.

Some reports on live television state that, “Several other neighbours said they did see a plane go into the depot.” BBC News 24 were also discussing the idea a possible plane crash as the cause of the explosions. Hertfordshire police have now gone on the record to say that there is no plane involved (BBC News24).

The police have issued a contact number 0800 096 0095 and asked that people do not call the emergency services in Hertfordshire directly unless it is an emergency.

In addition to being an oil storage depot, it is a major hub on the UK oil pipeline network with pipelines to Killingholme Lindsey Oil Refinery (LOR), Humberside (10 inch), Merseyside (10 and 12 inch), Coryton on the Thames Estuary (14 inch) and Heathrow (6 and 8 inch) and Gatwick airports radiating from it.

The disaster is believed to be the worst explosion at a petrochemical plant in the UK since the Flixborough disaster of 1974.Hertfordshire’s Chief Fire Officer Roy Wilsher said: “This is possibly the largest incident of its kind in peacetime Europe.”

A firefighting press officer said that they are stock piling foam from neighboring regions for a prolonged attach which they hope will stop the spread of the fire, however, the inferno itself will have to burn out which could take between 24 hours and a few days.

Despite the authorities saying that there is no need to panic buy petrol, filling stations have had above average queues since this morning and some small garages have ran out.

Deputy Prime Minister John Prescott has visited the scene.