Friday, April 6, 2007

U.S. Defence Secretary Robert Gates warned that limiting funding for the United States efforts in Iraq could lead to more bloodshed in the Middle Eastern country. In an interview with radio talk show host Laura Ingraham, he said it might even lead to ethnic cleansing in Bahgdad and elsewhere in Iraq.

Gates’ comment followed a proposal from Senate Majority Leader Harry Reid to end most spending on the Iraq war in 2008, limiting it to targeted operations against al Qaeda, training for Iraqi troops and U.S. force protection.

Sec. Gates also said that the duration of the troop increase is not clear and that evaluating whether the Administration’s new strategy was working will have to wait till mid-summer. The Army general charged with day-to-day operations has suggested that the increased deployment may extend to early next year.

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.

Friday, March 10, 2017

UK chancellor Philip Hammond announced his 2017 budget on Wednesday, which included a £2 billion pledge to social care and a tax hike on the self-employed. It was accused of breaking Conservative Party manifesto promises.

It was announced there will be a 2% increase in national insurance contributions for the self-employed, with chancellor Philip Hammond citing worries that people were choosing to become self-employed in order to pay lower taxes and his perception of unfairness in the different rates paid by employees and self-employees. There were accusations this change in policy goes against the manifesto promises the Conservative Party ran on in 2015, which promised four times that there would be no increase in national insurance rates. Conservative MP Anna Soubry tweeted saying she believed these new measures would be unpopular as many would see them as unfair. The leader of the opposition, Jeremy Corbyn, claimed the new measures will not clamp down on people whose self-employment is just for tax benefits, instead causing problems for those legitimately self-employed, arguing that if they are to start paying similar tax rates to the employed then they should get rights such as statutory maternity pay. The think tank Resolution claimed, however, this increase is outweighed by other government policies and is, therefore, a good move.

In addition to this, the chancellor announced a £2 billion pledge to social care over the next three years, saying he was aware of the stress the ageing population is having on the NHS and social care. Liberal Democrat Norman Lamb described the amount as “wholly inadequate”, saying much more is needed to pay for an increase in care demands due to the ageing population. The lowest threshold at which shareholders pay dividend taxes is to be lowered from £5,000 to £2,000 claiming that the taxes for dividends provided “an extremely generous tax break for investors with substantial share portfolios”. Other budget announcements include an additional £325 million for the NHS, £90 million transport spending for the North of England, £20 million to support campaigning against violence against girls and women and a slight increase in funding for the devolved governments.

Friday, June 24, 2016

The man who murdered Christina Grimmie following a June 10 concert lived “like a hermit” and had apparently never met the singer, but was infatuated with her and had spent recent months changing his appearance in an effort to win her over, according to information released on Wednesday by police in Orlando, Florida.

Kevin James Loibl, age 27, took a taxicab to Orlando on June 9 from his St. Petersburg home, bringing along two 9mm Glock handguns and extra ammunition. He spent that night in a hotel. Following Grimmie’s June 10 performance at The Plaza Live, he approached her as she signed autographs and opened fire, shooting her in the head once and the torso three times. Grimmie’s brother Marcus then tackled Loibl, who broke free, backed against a wall, and killed himself with a single shot to the head.

Christina Grimmie was pronounced dead at Orlando Regional Medical Center just before 11:00 p.m. She was buried in a private ceremony in her hometown in New Jersey on June 16. A public memorial in nearby Medford attracted thousands of family, friends and fans.

Police interviewed several of Loibl’s co-workers including Cory Dennington, self-described as Loibl’s “only friend in the world”, who said Loibl had an unrealistic infatuation with her and was constantly watching her videos and monitoring her online activity. Dennington said Loibl had lost weight, whitened his teeth, and gotten eye and hair surgery in an effort to look better for Grimmie, whom he considered his “soul mate”. Loibl would get defensive when told hoping for a relationship with the singer was “illogical”.

Witnesses also said Loibl had not mentioned attending Grimmie’s Orlando concert, and none of them knew of any threats. His father and brother did not know Loibl owned any guns, police said. Each weapon was purchased legally at one of two St. Petersburg gun shops.

Investigators were unable to crack the encryption on Loibl’s phone, and it appeared he had destroyed his computer’s hard drive. Police believe Loibl acted alone and, since he is deceased, they closed their case on Wednesday. They offered no motive for the shooting.

Thursday, January 28, 2010

The International Air Transport Association (IATA) said on Wednesday that 2009 was the “worst year” that the airline industry has ever seen since 1945.

“In terms of demand, 2009 goes into the history books as the worst year the industry has ever seen,” said IATA boss Giovanni Bisignani. “We have permanently lost 2.5 years of growth in passenger markets and 3.5 years of growth in the freight business.”

According to the group, passenger traffic was down by 3.5% compared to a year earlier, and freight by 10.1%. The group estimated that the airline industry lost a total of US$11 billion in 2009 last year, and will lose another $5.6 billion in 2010.

Airlines in Africa had the biggest passenger demand drop, at 6.8%; North American airlines and Asian carriers had demand go down 5.8%. European airlines saw a drop of 5%. Middle Eastern and Latin American carriers, however, had rises in demand, with gains of 11.3% and 0.3%, respectively. According to the Agence France-Presse news agency, part of the reason Middle Eastern carriers performed better is because of their position between Asia, Africa, and Europe, resulting in more connecting flights through hubs.

“While both North American and European carriers saw demand improvements in the first half of the year, the second half was basically flat,” said IATA.

IATA represents 230 airlines, accounting for 90% of scheduled air traffic, although some budget carriers are not included.

The IATA boss said that, although the worst appeared to be over due to the global economic recovery airlines would have to keep their costs low. “Revenue improvements will be at a much slower pace than the demand growth that we are starting to see,” he noted.

“Profitability will be even slower to recover and airlines will lose an expected 5.6 billion dollars in 2010. The industry starts 2010 with some enormous challenges. The worst is behind us, but it’s not time to celebrate. Adjusting to 2.5 to 3.5 years of lost growth means that airlines face another spartan year, focused on matching capacity carefully to demand and controlling costs,” Bisignani continued.

Costs for security were also an issue. Bisignani said: “Governments and industry are aligned in the priority that we place on security. But the cost of security is also an issue. Globally, airlines spend US$5.9 billion a year on what are essentially measures concerned with national security. This is the responsibility of governments, and they should be picking up the bill.”

Analysts, however, say that cost cutting measures, intended to attract more customers, would also harm airline profits. Saj Ahmad, an independent airline analyst, commented: “Continued fare wars between airlines mean that yields and profitability will be low. Airlines are struggling to fill their airplanes and discounted ticketing has done little to alleviate the pressures on their costs,” as quoted by the BBC.

“Capacity has come out of the global airline system, but until a few airlines perhaps exit the industry through bankruptcy or mergers, there is still a very long road until we see serious stability, let alone growth,” Ahmad added.

Sunday, April 25, 2010

Thailand’s prime minister, Abhisit Vejjajiva, has ruled out a compromise offer by anti-government protest leaders for parliament to be dissolved in thirty days, with elections to be held in 90 days.

In a televised address on Sunday, with army chief General Anupong Paochinda at his side, the prime minister dismissed the offer made by the National United Front of Democracy Against Dictatorship (UDD), saying such issues could not be resolved in such a short period of time, and “because they use violence and intimidation. I cannot accept this.”

Abhisit said the government stood by an offer made during earlier talks with the UDD for the house to be dissolved within the next nine months.

In reaction, the UDD, also called the Red Shirts, maintained an earlier call for parliament to be dissolved immediately. The UDD also withdrew from any further negotiations with the government. UDD leaders have repeatedly warned supporters rallying in central Bangkok’s retail and business areas of the threat of a new government crackdown.

There have been two large incidents of street violence in the past month or so, resulting in 26 deaths and injuries to hundreds of people. The Red Shirts primarily consist of supporters of former prime minister Thaksin Shinawatra, ousted in a 2006 coup. He was later given a two-year prison term on charges of corruption, although Shinawatra left the country in self-exile to avoid being jailed.

Friday, June 29, 2007

A car containing an large explosive device has been defused in the Haymarket, London. A second device was later found in a car park in Park Lane.

A car, a light metallic green Mercedes-Benz E Class saloon (produced 1984-1995), parked near the nightclub ‘TigerTiger’, contained petrol, gas cylinders and nails. Police described it as a “potentially viable explosive device”.

Police carried out a controlled explosion at 2:00 a.m. BST and the car has been taken to a forensic explosives laboratory for further investigation.

Eyewitnesses saw the car driving “erratically” and colliding with bins before being abandoned. An ambulance crew in the area alerted police after seeing smoke inside the car.

Deputy Assistant Police Commissioner Peter Clarke said there could have been “significant injury or loss of life”.

A meeting of COBRA, chaired by new Home Secretary Jacqui Smith was held about the incident.

Police say it is too early to tell who is behind the threat. Prime Minister Gordon Brown said the country faces a “serious and continued security threat” and urged people to “be vigilant at all times”.

Disruption has been caused to transport in the area with roads closed and bus routes diverted. Piccadilly Circus tube station has reopened after an earlier closure

Police are reviewing major events to be held in London over the weekend.

CBS News has reported that a message appeared on the widely used jihadist Internet forum Al-Hesbah at 8:09 a.m. June 28, saying: “Today I say: Rejoice, by Allah, London shall be bombed.” The message went on to mention the recently announced knighthood of Satanic Verses author Salman Rushdie.

Following an incident at Glasgow airport, Home Secretary Jacqui Smith announced the elevation of the UK’s national threat level from “Severe” to “Critical”, indicating that an attack could be expected “imminently”.

Two people have been arrested in Cheshire in connection with the Glasgow International Airport attack and attempted London car bombings.

Park Lane was closed to the public due to a suspicious car parked in the underground car park beneath Hyde Park. Police, who believed the two incidents to be linked, cordoned off Park Lane and Hyde Park to allow the bomb disposal unit access to the vehicle. The car was illegally parked on Cockspur Street and was towed to the pound on Park Lane, it was then discovered that the car contained an explosive device.