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Thursday, March 5, 2009

US stock markets dropped to twelve-year lows on Thursday, amidst falling confidence in the financial sector and worries over whether the US automobile manufacturer General Motors will be able to keep operating.

The Dow Jones Industrial Average dropped by 4.08%, or 280.52 points, at the closing bell, reaching a level of 6595.32, a new 12-year low. The Nasdaq Composite lost 54.15 points, or 4%, to 1299.59, while the Standard & Poor’s 500 plunged by 30.27 points, or 4.25%, closing at 682.60.

Every stock in the Dow Jones, other than Wal-Mart, either lost ground or remained even, and all stocks in the S&P 500 index lost ground.

General Motors’ shares lost 15.5% after the auto firm announced that its auditors had “substantial doubt” over whether it would be able to keep operating.

Shares of financial companies were lower by nine percent, with Bank of America losing 11.7% and Citigroup falling by 9.7%.

“What’s most worrisome is that we haven’t hit the crescendo yet,” said Bill Groeneveld, the head trader for vFinance Investments. “Asset-management divisions are getting calls to just liquidate everything, and we haven’t seen the big players come back in at all.”

“This is one of the worst bear markets in the last 100 years; it started out with the credit crisis and the subprime [loans], but it is like a forest fire that has raced across the clearing and ignited other parts: Autos, auto parts, the insurance companies have been hit very hard. The credit crisis is causing an unraveling of industry after industry because the banks don’t lend,” said David Dreman, the chief investment officer of Dreman Value Management.

European markets were also lower today, with the London’s FTSE index losing 3.2% and the DAX index of Germany falling by five percent.

Tuesday, June 27, 2006

The New Zealand government officials have announced that it will give NZ$160,000 in aid to help farmers who were affected by the huge amounts of snow in Canterbury, New Zealand two weeks ago.

The aid package will provide four regional offices for co-ordination, food supplies and ongoing support.

The Federated Farmers for mid Canterbury say that the aid will be a start to what looks like a tough winter. President of the mid Canterbury Federated Farmers Rupert Curd says, “It is too early to say exactly how much help the relief package will provide.”

The snow has not yet reached a crisis point.

The Insurance Council has estimated the cost of the snow storm has reached $35 million so far. Chief Executive of the Insurance Council says, “There has been damage to homes, commercial premises both on farms and in town and vehicles. Businesspeople who have been without power are also claiming for loss of income.”

The Minister of Agriculture Jim Anderton has said that they are not ruling out giving further aid.

Tuesday, August 6, 2013

Pakistani officials placed the capital, Islamabad, on red alert after they received information of possible terrorist attacks on Pakistan Air Force headquarters. Action was taken quickly, with Air Force and Navy helicopters seen above Islamabad shortly after the officials were notified.

“Current information suggests that Al-Qaeda and affiliated organisations continue to plan terrorist attacks both in the region and beyond, and they may focus efforts to conduct attacks in the period between now and the end of August,” a United States State Department statement said.

Pakistani security forces and policemen are maintaining high surveillance in the area as search operations are conducted.

“This thick security blanket has been laid over the capital to head off any untoward incident,” Senior Superintendent of Police Operations, Dr Rizwan told GEO News.

The threat of an attack remains high and searches continue after a number of suspects were detained as a result of an operation in Margallah Hills. The area remains under surveillance, with all inns, hotels, guesthouses, restaurants, Afghan refugee settlements and slums subject to scrutiny.

Warning has been spread to the U.S., where Americans have been urged to take extra precautions overseas. The State Department identified subways and rail networks as potential danger areas, because of their history in previous terrorist attacks. This information accompanies the red alerts placed on Europe, South Asia, Africa and the Middle East earlier this year.

Friday, March 24, 2006A large explosion ripped through a research building of the École Nationale Supérieure de Chimie de Mulhouse (ENSCMu) in Mulhouse, eastern France. Mulhouse’s mayor, Jean-Marie Bockel, confirmed that the blast killed one person and injured another. Police declared Code Red, and the neighborhood was evacuated.

According to the French Press, TF1, the victim was in his forties and had worked at the institition for about a year. A young woman was seriously injured and about a dozen people received minor injuries, with two suffering from shock. 150 firefighters were on the scene.

The ENSCMu is a technology college, with an enrollment of 8,000 and a 25-hectare campus near the town’s centre. It is known for its museum of coloring agents (Musée des Colorants), which has about 2700 samples, mainly from the second part of the nineteenth century. The museum’s database is available online in French.

The blast occurred at 11:25 GMT (12:25 local time). It is reported to have been heard two kilometres away and to have broken the windows of nearby buildings. The blast was followed by a fire that was contained by about 15:00 (local time).

The explosion’s cause is not yet clear but it is believed to have happened in a ground-floor laboratory in an annex building constructed in 1977. The lab was apparently focused on industrial safety.

Thursday, July 30, 2009

Eleven of the 25 workers at the Vestas factory in Newport, Isle of Wight, England who have been carrying out a sit-in since Monday July 20 have been sacked with immediate effect.

According to one of the protesters known as “Mike”, the occupiers were given their dismissal notices concealed under slices of their evening meal of pizza. The company said that the protesters have had ample opportunity to air their point of view, and had no choice but to sack eleven of the twenty five workers that they had positively identified; and that given that the fact that the action constituted a “fundamental breach” of trust, that the eleven would not be entitled to redundancy packages. A press release from the company said that Vestas “saw no other choice than to dismiss the 11 employees, who the company has positively identified as the employees currently participating in the occupation of the factory.”

The protesters remained upbeat, vowing to continue their occupation and have called upon the UK government to save the 625 jobs and to nationalise the Danish owned factory. Occupier Ian Terry told the BBC that if the occupiers are forced out, they plan to leave the building “peacefully”.

Vestas management were dealt a setback today in ending the occupation as Newport County Court ruled that the papers accusing the occupiers of aggravate trespass and requiring they surrender the office they occupy by July 29 were improperly served. The case has been adjourned until Tuesday August 4. In court, Judge Graham White said he was “distinctly uncomfortable” with what he perceived as Vestas’ effort to “get around the rules” in retaking the factory from the occupiers.

Legal representation for the Vestas workers had been offered by Bob Crow, secretary of the RMT trade union. Crow has pledged the “full solidarity” of the RMT and seven other unions with the workers occupying the plant.

Vestas management has also been providing the occupiers with hot meals in an apparent response to Crow’s announcement, made on July 24, that the RMT was planning on airlifting food into the factory by helicopter. Crow is meeting today with Ed Miliband, the Environment Minister.

Earlier in the week, Miliband pledged £6 million in funding to an expansion of Vestas’ Isle of Wight research and development centre, which currently employs 110 workers and could, said the Minister, be expanded to employ 40 more.

Rallies continued throughout the week in support of the Vestas occupiers. Since the occupation began, the Vestas workers have received declarations of support and solidarity from a wide swathe of the British left, including but not limited to: political parties Green Party, Respect, the Socialist Party, the Socialist Workers Party, the Alliance for Workers Liberty, and the Communist Party of Britain; the TUCG group, which brings together the BFAWU, FBU, NAPO, NUJ, PCS, POA, RMT, and URTU; and environmental groups Greenpeace, the Campaign against Climate Change, Climate Camp, and Workers’ Climate Action, who claims credit for initiating the campaign to occupy the factory. Attendees of the Big Green Gathering, a large annual environmentalist rally which was due to take place starting today but was suddenly canceled on Sunday, are being encouraged to go to the Isle of Wight and take part in support rallies for Vestas instead.

Speaking to Wikinews about the “red–green” coalition supporting the occupation, a spokesman for the Alliance for Workers’ Liberty said: “We think this struggle is important on at least three grounds — it is central to the struggle for jobs, it is central to the struggle for the environment, and it is central to the struggle for rebuilding the labour movement.”

Photographs shared with Wikinews by the occupiers show the occupiers, mostly young men, talking, carrying out everyday tasks, and keeping in touch with the outside world via mobile phones. The use of mobile telephones in the Vestas occupation has given the press remarkable access to the occupiers and provided an effective platform for relaying their demands and feelings to the media. In contrast, Vestas’s designated media contact for the United Kingdom is on vacation. Attempts to reach Vestas Newport factory manager Patrick Weir, whom a Vestas representative at the company’s Danish headquarters stated was handling press inquiries regarding the occupation, received no reply.

Vestas plans to close the factory on July 31, citing the difficulties of obtaining planning permission for wind farms in the United Kingdom. All blades manufactured at Vestas’ Newport plant are sent to the United States. 1900 employees of the company in Northern Europe face job losses, 625 of them in Vestas’s plants in the south of England.

Thursday, May 25, 2006

A Pakistani immigrant was convicted on Wednesday of plotting to blow up a New York City subway station in a case that shed light on police investigation tactics since the Sept 11 attacks.

Shahawar Matin Siraj, faces a maximum life sentence after a Brooklyn federal court jury convicted him of conspiring to place and detonate an explosive on the city’s mass transit system.

Siraj, 23, was arrested on the eve of the 2004 Republican National Convention on charges he planned to attack a subway station in Herald Square, the dense Manhattan shopping district that includes Macy’s flagship department store.

Siraj claimed he was entrapped by an over-zealous police informant twice his age, Egyptian Osama Eldawoody, 50, who met the Siraj in an Islamic bookstore while spying on mosques for the New York police.

Taped conversations between the two men were played by prosecutors during the trial plans were discussed to bomb the Herald Square subway station in midtown Manhattan.

Mr Eldawoody testified in 2003 and 2004 that he served as the ‘eyes and ears’ of the police and was paid more than US$100,000 to report about daily mosque activities, including prayers.

Prosecutors said Siraj had the will to carry out a plot supporting his extremist views. Their case was strengthened by the testimony of a co-conspirator who pleaded guilty in the case and an undercover police officer who said Siraj openly supported Al-Qaeda leader Osama bin Laden.

The jury also heard testimony by a Bangladeshi-born undercover police officer, who met Siraj while infiltrating a Muslim neighborhood as part of an investigation following the Sept. 11, 2001, terrorist attacks.

During one conversation, Siraj “complimented” Osama bin Laden, the officer testified.

“He said he was a talented brother and a great planner and that he hoped bin Laden planned something big for America,” said the officer, who testified under an alias because he is still involved in active investigations.

“The verdict is an important milestone in safeguarding New York against terrorist plotters whether home-grown or foreign,” said New York Police Commissioner Raymond Kelly.

Sunday, February 17, 2008

In a press release today, California-based Hallmark/Westland Meat Packing Co. indicated that it has voluntarily recalled just over 143 million pounds (65 million kilograms) of raw and frozen beef products, which is considered to be the largest single recall of beef products in U.S. history. The move follows an investigation by the United States Department of Agriculture (USDA) into allegations of animal cruelty and mishandling of cattle destined for the human food chain.

The USDA’s Food Safety and Inspection Service (FSIS) had determined that beef products produced by the Chino, California company were unfit for human consumption as the cattle had not received “complete and proper inspection.”

The recall has been designated as Class II, which the USDA describes as “a health hazard situation where there is a remote probability of adverse health consequences from the use of the product.”

On Friday, Secretary of Agriculture Ed Schafer indicated that charges had been laid against employees of the plant alleged to have taken part in the mistreatment of cattle. “Today [Friday], the San Bernardino District Attorney filed felony animal cruelty charges against two employees who were terminated by Hallmark/Westland Meat Packing Company,” said Schafer. “It is regrettable that these animals were mistreated and I am encouraged and supportive of these actions by the San Bernardino District Attorney in response to this mistreatment.”

The USDA learned of the possible inhumane handling of non-ambulatory (disabled) cattle at the packing plant on January 30 and has since suspended activities at the plant. “We continue to conduct a thorough investigation into whether any violations of food safety or additional humane handling regulations have occurred,” said Secretary Schafer in a press release. “On February 8, our Office of the Inspector General took the lead on the investigation. At that time, USDA extended the administrative hold on Hallmark/Westland Meat Packing Company products for the National School Lunch Program, the Emergency Food Assistance Program and the Food Distribution Program on Indian Reservations while the investigation continues,” said Schafer.

The FSIS reported that Hallmark/Westland had not contacted the FSIS public health veterinarian, as required, when cattle became ill or disabled after undergoing ante-mortem (slaughter) inspection, putting the company out of compliance with FSIS regulations. “Because the cattle did not receive complete and proper inspection FSIS has determined them to be unfit for human food and the company is conducting a recall,” explained Secretary Schafer.

The cruelty charges stem from an undercover video that reportedly showed sick cattle being moved by crews using forklifts.

“Words cannot accurately express how shocked and horrified I was at the depictions contained on the video that was taken by an individual who worked at our facility from October 3 thru November 14, 2007,” said Steve Mendell, President, Westland Meat Co. and Hallmark Meat Packing. “We have taken swift action regarding the two employees identified on the video and have already implemented aggressive measures to ensure all employees follow our humane handling policies and procedures. We are also cooperating with the USDA investigators on the allegations of inhumane handling treatment which is a serious breech of our company’s policies and training.”

The USDA stressed that it is “extremely unlikely” that the cattle involved were at risk for Bovine spongiform encephalopathy (BSE) or mad-cow disease due to the employment of multiple safeguards. The USDA felt the recall was required, however, as the plant had allegedly violated USDA regulations.

The recall involves raw and frozen beef products produced on various dates from February 1, 2006 to February 2, 2008. For further information about the recall, consumers, media, and distributors are encouraged to contact Hallmark/Westland’s Plant Manager Stan Mendell or Food Safety Consultant Steve Sayer at (909) 590-3340 or the FSIS website, www.fsis.usda.gov.