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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, November 14, 2006

Studies carried out by researchers near the village of Khiam found radio active material at the site of bombing by Israel during the 2006 Israel-Lebanon conflict. The UN says that it has found no evidence of urianum-based munitions.

Two previously unknown Lebanese professors of physics, Mohammad Ali Kubaissi and Ibrahim Rachidi claim that the levels of radiation, about 700 nanosieverts per hour, twenty times the average levels, are consistent with the use of a depleted uranium bomb casing. Military use of depleted uranium is quite controversial due to its toxicity and low level radioactivity. Depleted uranium features in the list of weapons capable of causing mass destruction, superflous injury and unnecessary suffering, passed by the Sub-Commission on Prevention of Discrimination and Protection of Minorities of the UNHRC in 1996 and 1997.

This analysis has been partially coroborated by an independent consultant specialising in career, organisation and community psychology issues, Dai Williams, affiliated with the environmentalist organisation Green Audit, with testing done by Chris Busby, a member of the Defence Depleted Uranium Oversight Board of the British Ministry of Defence and a director and co-founder of Green Audit. Williams believes that these anomalies may have been caused by Israel’s use of uranium based weapons involving some secret physical techniques, not nuclear fission; however, there are no known such physical processes.

The U.S. is currently the only nation known to use depleted uranium bomb casings and munitions. Some observers have claimed that Israel used depleted uranium muntions during the 1973 Arab-Israeli war; however, U.N. observers have never found Israel using depleted uranium.

This level of radiation is also consistent with Israel having destroyed some form of storage facility for nuclear material. Such facilities are speculated to exist in the Middle East, often controlled by Islamic extremist groups who (allegedly) hope to construct a dirty bomb.

Dirty bombs are not considered to be as effective militarily as merely using more explosives. Post September 11th news reports about the dangers of dirty bombs have been criticized as fear mongering for fallaciously assuming years of continued exposure by victims without acounting for clean up procedures, or even rain fall.

Tuesday, September 6, 2005

British pop group Girls Aloud have won the 2005 Popjustice £20 Music Prize with their single “Wake Me Up”. The award, organised by music journalist Peter Robinson, is given annually to the best British pop single of the previous 12 months and is a tongue-in-cheek response to the Mercury Music Prize, the winner of which was announced earlier in the evening.

This year’s shortlist included Basement Jaxx, Robbie Williams and Charlotte Church.

This is the second time Girls Aloud have won the award – they won the inaugural prize in 2003 for “No Good Advice”.

Also announced was the winner of the £20 Invoice Prize for the worst British single of the previous 12 months. The winner, charity single Band Aid 20’s “Do They Know It’s Christmas?”, was the UK’s Christmas number one in 2004.

Thursday, August 7, 2008

Two web sites purporting to sell tickets to the 2008 Summer Olympic Games due to open in Beijing, China on Friday have been the subject of lawsuits from the International Olympic Committee in United States courts in recent weeks. The web sites, beijingticketing.com and beijing-2008tickets.com, were designed to resemble official sites and often appeared above the official sites in Google searches, and scammed some victims out of up to US$50,000 each for tickets to events such as the Opening Ceremony and swimming, which were listed despite the official Beijing ticket web site stating that tickets to all events had sold out as of July 27. The sites are believed to have taken in millions of dollars in total.

Ken Gamble, a private investigator from Sydney, Australia, believes the sites are operated by Terance Shepherd, whom Gamble has been tracking for several years in relation to other fraudulent web sites selling tickets to events such as the FIFA World Cup. According to Gamble, Shepherd’s modus operandi involves setting up the fake web sites, overselling the tickets, and then failing to produce the tickets. “The story’s always the same,” Gamble said, “it’s an ‘unfortunate mistake’ or someone has ‘let them down’. They promise a refund, which never happens, and the credit companies end up paying all the refunds.” Shepherd owns a home in the London suburb of Blackheath, although authorities believe he is currently hiding in Barbados.

On Monday, beijingticketing.com customers received an email from someone named “Alan Scott”, claiming that the site’s ticket supplier had filed for bankruptcy. The email recommended that customers should contact their credit card companies to seek refunds “immediately”, and said that the company would set up a call centre to provide assistance to its customers. However, the site has been shut down and a phone number previously listed on it has been disconnected. The company’s address, in Phoenix, Arizona, was found to be an empty office space. Visa International has stated that victims who used their Visa card to pay should be able to get their money back, but it is not yet clear whether the same will apply to all customers.

Thursday, November 5, 2009

Lord Terence Burns has been confirmed as the new chairman of British television channel Channel 4.

Burns, who was the Permanent Secretary to the Treasury from 1991 to 1998, will take the position on January 24, 2010. He will replace the former chairman, Luke Johnson, who is now retiring. Luke was chairman of Channel 4 since early 2004.

Lord Burns will also immediately take the position to try and find a new chief executive alongside Luke Johnson, after it was announced that the current chief executive Andy Duncan was to retire after being in the position for five years. Speaking about joining the corporation for the channel, Burns said: “I am delighted to be joining Channel 4. This is a time of great change as we experience the impact of the rapid development of digital technology in the communications sector and Channel 4 has a very special and continuing role to play.”

Colette Bowe is the current chairman of Office of Communications, or Ofcom, an independent regulator and competition authority for the communication industries in the United Kingdom. Speaking about this announcement, Bowe said: “He [Lord Burns] has an outstanding record of public service and a real depth of commercial expertise. He will provide strong leadership at a time of considerable change in the broadcasting world. I would also like to pay tribute to Luke Johnson’s tremendous contribution to Channel 4 in a period during which it has enjoyed considerable success.”

Sunday, April 10, 2011

Voting in parliamentary elections that took place on Saturday in Nigeria has concluded and votes are being counted after the first part of a three-round election.

The day of voting passed fairly peacefully, with only two instances of violence. In Maiduguri, at least three people were killed after a bomb went off, and a hotel in the city was set on fire. Elsewhere, a policeman was shot and killed in Borno State. On Friday, a bombing in Suleja killed between eight and ten people.

The elections were postponed for a week after many ballots and other voting materials were missing or incomplete in some regions. The difficulties were not apparent until voting had begun, and the country’s Electoral Commission chose to push the date of the parliamentary elections back a week.

Saturday’s elections were for 360 seats in the House of Representatives and 109 seats in the Senate. Next Saturday, presidential elections will take place, and a week from then are elections for state governors.

Current president Goodluck Jonathan is expected to win the presidential election, though his People’s Democratic Party appears likely to suffer a reduction of its majority in the National Assembly, which is composed of the House of Representatives and the Senate.

According to the Electoral Commission, the elections are a “test of honour [that]is inescapably a collective one for all Nigerians. “It is our national honour at stake, and our relevance in the affairs of the modern world being redefined.”

Saturday, February 26, 2011

An elderly Brooklyn, New York woman was found dead yesterday after a fire triggered by a voodoo ceremony caused a blaze in an apartment that left dozens homeless. The details of the ceremony were not clear, but sources say it led to sex.

An unidentified woman hired a Voodoo priest for $300, identified as Nelson (Pepe) Pierre, to perform a mystic ceremony meant to bring her good luck. The woman went to Pierre’s apartment, where she ended up in bed surrounded by lit candles which were mistakenly knocked over, setting the bedsheets on fire. In an effort to suppress the flames, Pierre splashed water from the bathroom sink on the sheets while his roommate, who was ironing at the time, opened a window for air. However, according to the New York Fire Department, wind gusting through the open window created a “blowtorch effect” which caused the fire to spread to the 4th floor hallway and into the 5th and 6th floors. The blaze killed one woman, three others were severely injured, and at least 20 firefighters were left with burn wounds.

In an NYFD statement, Fire Commissioner Salvatore J. Cassano said, “Time and time again we respond to tragedies that could have been so easily prevented. This fire had so many of those elements … hopefully others will learn from this tragedy.” It took hours for hundreds of firemen from dozens of companies to bring the raging fire under control.

Pierre, a man in his 60s, did not call 911 right away, but attempted to quell the fire using water from the bathroom sink. A source in law enforcement said, “Nobody sees a crime right now. It was an accident. Maybe they weren’t careful, but they did try to put it out.”

Mary Feagin, a 64-year old retired teacher, died in the blaze.

The New York Police Department is currently investigating the incident.