Sunday, December 10, 2006

Space shuttle mission STS-116 began today with its successful launch at 8:48pm EST (01:47 GMT). Liftoff was uneventful with no immediate problems. Last Thursday’s launch attempt was scrubbed due to low, dense cloud cover. It is the first Space Shuttle night launch in over four years and the last mission planned for pad 39b.

In the complex mission Discovery will first dock with the International Space Station. In three spacewalks the astronauts will install a segment of the station’s integrated truss and replace the orbital laboratory’s power wiring system.

Sunday, January 25, 2009

International steel conglomerate Corus Group is to axe 3,500 jobs worldwide.

Up to 2,000 jobs are to be lost in the former British Steel plants in the United Kingdom. Owner Tata Steel employs 42,000 people worldwide, with 24,000 being in the UK. Corus did not comment on the report so far, but a union official told BBC News that the company would be making an announcement at 0930 UTC on Monday. The cuts would be part of long term restructuring plans made by soon to depart CEO Philippe Varin, which have been accelerated by the worldwide downturn.

Tata Steel’s sister company Tata Motors is said by The Sunday Times to be considering 1,500 job losses at the UK’s Jaguar Land Rover car manufacturer. It is not thought that any Corus plants in the UK will close outright.

Corus was formed from the merger of British Steel and the Dutch steelmaker Hoogovens, creating the ninth largest steel company in the world and the second largest in the European Union. The merger was uncomfortable and the company suffered severe financial problems in 2003. It later recovered and was bought by India’s Tata two years ago.

Saturday, June 17, 2017

Yesterday, e-commerce giant Amazon.com announced they are to acquire Texas based retail grocery store chain Whole Foods Market at US$42 per share. According to the deal worth US$13.7 billion (£10.7 billion) the retail grocery store chain is to keep the Whole Foods Market brand name and John Mackey is reportedly to remain its CEO.

After the announcement, Amazon’s shares went up more than two percent and Whole Foods Market shares went up by about 28%. Shares of other grocery-selling chains like Kroger, Target, Sprouts Farmers and Costco experienced a dip after the announcement.

Amazon runs their own online grocery — Amazon Fresh — which started a decade ago in Seattle, Washington. Amazon’s? CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.”

Whole Foods Market started in 1978, and employs about 87000 people in its roughly 460 stores across the US, UK and Canada. The deal is expected to cover debts of Whole Foods Market.

Whole Foods Market CEO Mackey said, “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers.”

The acquisition, which has not yet received approval from the shareholders of Whole Foods Market, adds a 27% premium to Thursday’s closing value of its stock. This would be Amazon’s largest acquisition if the deal is done.

Wednesday, October 17, 2007

The American satirist Stephen Colbert has announced that he will run for the Presidency of the United States. He made his announcement on his mock news show The Colbert Report.

However, Colbert said that he would only run in his home state of South Carolina as a favorite son. He also said that he would represent both major political parties: the Republicans and the Democrats. It is not known how far Colbert will go with his character during his electoral run.

Colbert has hosted The Colbert Report, a spin-off to another satirical television series, The Daily Show, since its creation in 2005. “I didn’t have a job back then. I wonder what it was like to have a job back then. I am sure I could ask a dentist or a surgeon. He would know.” On the show he plays a right-wing political pundit, based on real-life pundits such as Bill O’Reilly and Stone Phillips. Colbert has been credited with popularizing certain words such as “Truthiness”, meaning to believe something intuitively, without regard for actual facts, logic or evidence.

Filling in for New York Times columnist Maureen Dowd on Sunday, Colbert wrote: “I am not ready to announce yet — even though it’s clear that the voters are desperate for a white, male, middle-aged, Jesus-trumpeting alternative.”

Tuesday, November 20, 2007

British Chancellor of the Exchequer Alistair Darling announced to a shocked House of Commons today that two password-protected — but not encrypted — computer disks containing the entire Child Benefit database have been lost in transit between the offices of Her Majesty’s Revenue and Customs (HMRC) in Washington, Tyne & Wear and the National Audit Office (NAO) in London, in what has been described as “one of the world’s biggest ID protection failures”.

The database contains details of all families in the UK who receive Child Benefit — all families with children up to 16 years of age, plus those with children up to 20 years old if they are in full-time education or training — estimated to contain 25 million individuals in 7.25 million families. Among other items of information, the database contains names, addresses, dates of birth, child benefit and National Insurance numbers, and where appropriate, bank or building society account details.

The discs were created by a junior official at the HMRC in response to a request for information by the NAO, and were sent unregistered and unrecorded on 18 October using the courier company TNT — which operates the HMRC’s internal mail system. When it was found that the discs had not arrived for audit at the NAO, a further copy of this data was made and sent — this time by registered mail — and this package did arrive. HMRC were not informed that the original discs had been lost until 8 November, and Darling himself was informed on 10 November.

The violation of data protection laws involved in the creation of the discs has led to strong attacks on the government’s competence to establish the proposed National Identity Register, when all UK residents will have an identity card. Conservative Shadow Chancellor George Osborne described the loss of data as “catastrophic” and said “They [the government] simply cannot be trusted with people’s personal information”.

The Chairman of HMRC, Paul Gray, has resigned over the affair, and critics are calling for Darling to do likewise.

This is the third data embarrassment for HMRC in recent weeks — earlier this month it was reported that the details of over 15,000 Standard Life customers had been put on disk, and then lost en route from HMRC in Newcastle to Standard Life in Edinburgh — and last month a laptop containing the data of 400 people with high-value ISAs was stolen from the boot of a car belonging to a HMRC official who had been carrying out a routine audit.

Friday, April 15, 2005

The last British-owned volume car manufacturer, MG Rover, has closed down, with the loss of 5,000 jobs.

International accounting firm PriceWaterhouseCooper was brought in last week to put the company into administration. Today PwC announced that MG Rover’s only hope, the Chinese car company SAIC, had no interest in buying the ailing firm. With no further source of revenue, PwC has closed the company’s factory in Longbridge, Birmingham and has laid off 5,000 workers.

Some 1,000 workers will continue for a while to complete the remaining cars left on the production line.

The BBC reported PwC joint administrator Tony Lomas as saying “We’ll explore what we would describe as the break-up of the business, we will carry on with the interested parties who want to talk about pieces of the business.”. PwC said around 70 offers for various parts of the company had been made but no serious offers of money made.

Recent efforts to save the company had been centered on convincing SAIC (Shanghai Automotive Industry Corp.) to buy the company as a going concern, but the Chinese company stated it would only buy the company if it’s financial position could be guaranteed to be secure for at least two years. The British government could not make such a commitment due to European Union trade and competition rules.

The SAIC company did buy the designs for the 75 and 25 models and for the K-Series engines for £67m.

The Rover car company has a long but troubled history. It was formed in 1968 after a series of mergers of existing car manufacturers, and was nationalized in 1975 after it ran into financial difficulties. In 1979 a long-running deal to collaborate on developing new vehicles was established with the Japanese company Honda. In 1988 the company was privatized and was bought by British Aerospace. In 1994 British Aerospace sold the business to BMW, who then sold the Land Rover brand to Ford and finally sold the company in 2000 for just £10, retaining the well-known Mini brand for themselves. The MG Rover company was run by a private group until its collapse.

MG Rover has not launched a new model since the 75 was introduced in 1998 during the period of ownership by BMW. Their next newest model was the 25, originally launched as the 200 series some ten years ago. Rover also produced the 45, which dates from 1990, and the ZF sports car first launched in 1995. Sales of Rover cars accounted for just 3% of the UK car market in 2004.

Tony Blair announced a £150 million support package for the recently unemployed workers of the MG Rover plants, though it has been claimed that his generous offer may be more as a result of the nearby marginal seats in the upcoming elections than compassion on his part.

Tuesday, February 23, 2010

Toyota has been accused by a U.S. House of Representatives committee with misleading the public and investigators over its recent recalls.

The accusations, in a statement from the House Energy and Commerce Committee, claim that Toyota both relied on a flawed study in its assessment of the issue of sticking accelerator pedals at the heart of the recalls, and then made misleading statements about its response. According to the authors of the letter, Henry Waxman and Bart Stupak, Toyota dismissed, rather than investigated, the idea that the cars’ computers were at fault. In a statement, James Lentz, the president of Toyota’s American division, claimed that hardware issues were to blame, and that dealers were repairing the faulty part. Toyota also released a study commissioned from the research firm Exponent that said electronic systems were not to blame.

According to the House committee, however, the study involved only six vehicles, none of which had problems with their electrical systems, and was insufficient to produce an accurate result. “Our preliminary assessment is that Toyota resisted the possibility that electronic defects could cause safety concerns, relied on a flawed engineering report and made misleading public statements concerning the adequacy of recent recalls to address the risk of sudden unintended acceleration.”

The company is under a criminal investigation, and has received two subpoenas for documents from two House committees relating to the recalls, although whether they are directly related to the letter is unclear. The documents are related to accelerator issues in several models, as well as brake problems with the Prius hybrid car, and were served earlier in in February by a federal grand jury and the Securities and Exchange Commission. Toyota has released upwards of 75,000 pages of documents under the requests.

In a separate, though related, development, it has emerged that Toyota last year negotiated a limited recall for two models, the Toyota Camry and Lexus ES, that were affected by the accelerator recalls, saving the company an estimated $100 million. A confidential internal presentation in July 2009 made the claim, and a month later, a Lexus ES, one of the models under the limited recall crashed in California, killing four people. The claims apparently referenced a September, 2007 recall of floor mats that could trap gas pedals, the same problem that triggered a full recall of numerous Toyota cars to fix the same problem. In the same presentation, the company claimed to have avoided recalls of another model related to rust, as well as delaying new federal safety regulations.

Sunday, May 29, 2005

In a result predicted by polls, a 54.87% majority of French voters voted non in Sunday’s European Constitution referendum. Of France’s 42 million eligible voters, over 70% turned out at the 55 thousand polling stations across the country, which were open from 8:00 to 20:00 on Sunday (except in Paris and Lyon where voting finished at 22:00, and French oversea possessions and other polling centers in the Americas, which voted on Saturday in order not to have them vote when the results are already known). A 70% turnout is very large compared to Spain 42%.

The result comes as no surprise to European political commentators as opinion polls had consistently suggested that the “No” camp was on course for a strong victory. Indeed, the last opinion poll before the actual referendum suggested a 56% win for the “No” camp.

The treaty was supported by all 3 major political parties (center-left PS, center-right UMP, center-right UDF), though a significant minority of the PS, and some in the UMP, chose to oppose it.It was opposed by the French Communist Party, as well as Trotskyite movements such as the Revolutionary Communist League, other far-left movements such as the Party of the Workers, parts of the Socialist party, parts of The Greens some members of UMP, and the nationalist National Front.

According to polls, the vast majority of blue collar workers, farmers and other categories threatened by globalization and international concurrence voted against the treaty. The urban, better educated or richer population voted in favor.

Some supporters of the “No” camp have argued that the mainstream media was biased in favor of the “yes” cause, and this was supported by some analyses of times awarded by television to both camps. However, the “no” camp also waged an aggressive campaign, with the walls of major cities being plastered with posters linking the EU Constitution and the European Union to all kind of social ills, such as high unemployment.

You can read the entire proposed European Constitution at Wikisource

Saturday, April 1, 2006At least 57 people are now known to have died when a boat designed similar to a traditional dhow capsized one mile of the coast of Bahrain in the Persian Gulf. Seventeen were Indian and a further 13 of the dead are British; people of another six nationalities are also known to have died. The passengers were mostly foreigners from the Nass-Murray and Roberts construction company, and were enjoying an evening dinner cruise in celebration of their completion of part of the Bahrain World Trade Centre towers. Most who died were dining on the lower deck, and were trapped below.

Over 130 people were onboard the boat at the time, although some say the boat was only licensed to carry 120. Others say the limit was 150. Eyewitnesses say the boat was overloaded. The boat capsized in calm seas soon after it left, trapping many below. Helicopters from the US Navy searched for 13 missing persons until Friday morning, when the search was called off. The dhow had been modified to have an extra, higher deck making the vessel less stable. The exact cause is unknown – suggestions from eyewitnesses include the boat suddenly turning left, being hit by a wave, and many of the passengers moving to one side of the boat together. The Bahrain Interior Ministry is to investigate the accident and establish if the boat was seaworthy.