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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, October 6, 2009

The 2009 Man Booker Prize has been awarded to British author Hilary Mantel for her historical novel Wolf Hall. 57 other authors were short-listed, including former winners AS Byatt and JM Coetzee, as well as Sarah Waters, whose book, The Little Stranger, has sold more copies than Wolf Hall.

The winning novel tells the tale of Thomas Cromwell, chief minister to Tudor king Henry VIII. In her acceptance speech, Mantel said “I can tell you at this moment I am happily flying through the air.”

Mantel was made a Commander of the British Empire (CBE) in 2006, 21 years after her first novel, Every Day is Mother’s Day, was published in 1985. Wolf Hall was the longest book on the list.

The decision was not unanimous, but all 5 judges were happy to award Mantel the trophy £50,000 prize at the London Guildhall. The judges assert that, despite differing opinions, the decision was not a compromise. James Naughtie said, “When we gathered this morning none of us knew which book was going to win. I think we all felt exhausted at the end of the process but there was real feeling that we had found a book that was worthy of the prize.”

The judges this year were Lucasta Miller, a biographer and critic; Professor John Mullan; James Naughtie, the chairman of judges; Sue Perkins, a comedian, journalist, and broadcaster; and Michael Prodger, the literary editor of The Sunday Telegraph;.

According to Ladbrokes bookmakers, the novel was the clear favourite, with 80% of people betting on it. Some thought this backing would go against the book, since the last time the bookmakers’ favourite won was in 2002, when the prize was given to Yann Martel‘s The Life of Pi.

Friday, October 19, 2007

The 7th Taipei International Hardware & DIY Show, organized by Kaigo Taiwan (The representative of Koelnmesse in Taiwan) and Koelnmesse GmbH, started on October 18-20 at Taipei World Trade Center Exhibition Hall 3. This show has 183 participants using 300 booths to exhibit accessories and tools on esoteric fabricating, home-living applications, and security.

With people in Taiwan valuing on the quality of home-living, the organizer set a pre-show pavilion of “2008 Taipei Home & Lifestyle Fair” and invited B&Q & HomeBox holding DIY workshops for visitors.

This exhibition is conjuncted with industry and applications, and pursuing with three main topics of “Quality, Innovation and Competitiveness”. International factories such as Hitachi, Rexon, Ryobi participated this show for the export opportunity in the hardware industry.

After the “Product Certificates and Testing” pavilion in TAITRONICS Autumn, Bureau of Standards, Metrology & Inspection, M.O.E.A., R.O.C. (Taiwan) and DIY in Europe magazine were invited for speeches focused on certifications on hardware & DIY products and environment issues in EU.

• Spoty Enterprise Co., Ltd.

• Double Dynasty Co., Ltd.

Wednesday, July 10, 2019

Leaders of African Union (AU) member states met in Niamey, Niger’s capital, for an AU summit where on Sunday Presidents Muhammadu Buhari of Nigeria and Patrice Talon of Benin signed the African Continental Free Trade Area (AfCFTA) agreement.

Nigeria previously announced it planned to join the AfCFTA in the week leading up to the summit. AU trade and industry commissioner Albert Muchanga announced Benin was to join. The commissioner said, “We haven’t yet agreed on rules of origin and tariff con[c]essions, but the framework we have is enough to start trading on July 1, 2020”.

Niger’s president Mahamadou Issoufou said, “Nigeria is Africa’s biggest economy and most populous country. Without Nigeria the free trade zone would’ve been handicapped.”

The agreement seeks to remove tariffs on 90 percent of commodities and better intregrate African economies.

At the opening of the AU summit, AU chairperson President Abdel Fattah el-Sisi of Egypt said, “The success of the AfCFTA will be the real test to achieve the economic growth that will turn our people’s dream of welfare and quality of life into a reality”.

With Sunday’s signings, all but one of the member states of the 55-member AU have signed on to the agreement, with Eritrea the only state unsigned. African leaders have negotiated the deal over the last four years. While 54 nations have signed onto the AfCFTA, only 27 have ratified the agreement.

While many transactions in Africa occur using U.S. dollars or euros, the AU announced an electronic pan-African payment system.African Export–Import Bank president Okey Oramah said the use of third-party currencies “costs Africa between $5 and $7 billion,” further saying, “Beyond that, it also reduces trade because Africa has a scarcity of foreign exchange.”

There are reportedly 1.3 billion people in the free trade area, with the combined economies of the countries worth US$3.4 trillion. One of the stated goals of AfCFTA is to encourage more intra-Africa trade. Currently about 16–17 percent of African trade occurs between African countries. This is in contrast to the European Union members, where intra-European trade accounts for over 60 percent of trade.

The International Monetary Fund said in May the AfCFTA might be for African countries comparable to the European and North American trade blocs as an “economic game changer”.

Seven members states had bid to host the AfCFTA secretariat, the operational organ of the free trade agreement, with Ghana winning the bid.

Thursday, December 3, 2009

With two federal by-elections coming up in Australia, many minor parties and independents will be looking to gain a seat in the House of Representatives. Goronwy Price is a candidate representing the Environmentalists for Nuclear Energy party.

Mr Price is an environmentalist, adventurer and businessman from the Sydney suburb of Cremorne.

“In 1975 I founded the adventure travel company World Expeditions and built it to be the world’s largest adventure organisation. I am currently Managing Director of Learningportal.com a successful software company I founded in 1997. We export software around the world.,” Mr Price said.

Wikinews reporter Patrick Gillett held an exclusive email interview with Mr Price, candidate for the Division of Bradfield.

Thursday, August 2, 2007

The Interstate 35W Mississippi River eight-lane bridge in Minneapolis, Minnesota has collapsed on both sides of the highway over the Mississippi River during rush hour.

Previous reports indicated at least nine people had died, but Minneapolis police revised this to four during a 7:30 a.m. (local time) press conference. Tim Dolan, the Minneapolis Police Chief later stated that “several [adding to the four] people are confirmed dead at the scene,” but would not elaborate on how many. At least 79 have been injured and at least 8 are still missing, still believed to be in the rubble.

The road was busy with bumper-to-bumper traffic in four lanes when the entire 1907 foot (581 m) steel arch bridge collapsed. At least 50 cars were traveling on the bridge, including a school bus. The Red Cross said that 60 children were aboard a school bus, and that ten of those were admitted to a hospital.

The entire length of the bridge over the river collapsed at 6:05 p.m. CDT (UTC-5). The bridge, built in 1967, cleared the water level by 64 feet; the deck surface and pavement were considerably higher.

Reports say that people may be trapped in the water. Further, “many voids may contain survivors, but we cannot search those voids until it’s safe,” said Jim Clack, Minneapolis Fire Chief, during a press conference.

“One has died from drowning,” said a doctor from the medical center during an 8:00 pm press conference, who also said that so far 22 are in “yellow condition” and at least six are in “critical condition.”

Minneapolis officials have stated during an earlier press conference that “people are being sent downtown and all survivors are off the bridge. We are seeking help from the Red Cross.” and “[…]at least 60 children are receiving trauma care some with severe injures, some with minor injuries.”

Most of the injured have been received by Hennepin County Medical Center in downtown Minneapolis for medical treatment. Area hospitals are requesting all off duty staff and all Minneapolis ambulances to report. Residents are being encouraged to stay away from the area to let emergency crews do their work.

It is not known what caused the collapse, but there was construction being performed on the bridge’s road surface which included the use of jackhammers and the FBI has ruled out terrorism.

“Although it is much too early to make any determination of the cause, we have no reason at this time to believe there is any nexus to terrorism,” said Paul McCabe, an FBI spokesman.

In 2001 a stress inspection was done and Minnesota Department of Transportation stated that the bridge “should not have any problems with fatigue cracking in the foreseeable future.”

Typically an eight-lane bridge, the bridge was reduced to four lanes (two in each direction) during the current construction. The Minnesota Department of Transportation (Mn/DOT) had just announced overnight lane reductions on the bridge to one lane in each direction for the late evening hours of July 31 and August 1.