Thursday, October 12, 2006

The Blunkett diaries, being serialised in the Guardian, claim that Gordon Brown opposed the war against Iraq. Only at the last minute did he give in, according to the diaries, when he realised that Blair would sack him otherwise.

Gordon Brown, interviewed by the Guardian, said he did not think Blunkett had ever said such a thing and that, if he was reported as having done so, he was being misquoted.

The diary entries are contemporary with the events and were recorded shortly after the Cabinet meeting on Iraq.

Thursday, May 7, 2009

Penske Automotive Group, Inc., an Ohio-based investment group and Telesto Ventures have indicated separately that they are interested in purchasing the Saturn auto brand from General Motors (GM).

According to The Wall Street Journal, Nissan-Renault is interested in purchasing Saturn. Bloomberg, however, indicated that Nissan-Renault may be a partner of Penske’s potential bid. If Penske acquired the brand, they would distribute Saturn vehicles and outsource the assembly.

GM revealed that the Saturn brand along with Saab and Hummer were up for sale when unveiling their restructuring plans to Congress for governmental loans. While the Pontiac brand was originally to be a niche brand, GM had changed their plans recently and decided to eliminate the brand.

Telesto Ventures is an investment group that includes private equity firm Black Oak Partners LLC of Oklahoma City and several Saturn dealerships. Initially, Telesto will purchase Saturn branded cars from GM then act as a general retailer for foreign brands. Telesto is in talks with several foreign manufacturers.

The Ohio group includes many former senior auto company managers plus private financial backers, chemists and engineers who live in Michigan, Ohio, Indiana and Florida. This group plans to initially purchase cars from GM then purchase existing but closed plants due to automaker restructuring. Additionally, one of the partners indicated a willingness to accept some “legacy” cost in relation to the United Auto Workers. The Ohio group is also pursuing possible loans or other support from national and state governments.

GM is reviewing several offers for Saturn. GM has contracted with S.J. Girsky & Co. to advise them on the sale.

Friday, April 7, 2006

Accra — The Ghana-India Kofi Annan Centre for Excellence in ICT introduced the Semacode technology and the Semapedia application to a segment of the Ghanaian public in a presentation delivered by Guido Sohne, Developer-In-Residence at the Centre and Chief Software Architect of CoreNett Ltd, a Ghanaian electronic transaction processing company.

Introduced for the first time in Africa, Semapedia is a way of associating Internet sites with physical barcodes that can be read by cameraphones, enabling one to look up information about physical objects quickly and easily.

Friday, September 15, 2006

The Canadian PM Stephen Harper spoke with astronaut Steve MacLean over the phone yesterday from Ottawa. MacLean was on the STS-115 (space shuttle Atlantis). He is also the second Canadian to walk in space.

Harper congratulated MacLean and asked him questions, including one from Harper’s son, Ben. The question was: “What time do the astronauts go to bed?” “On our mission, with where the sun is, we have 55 minutes of daylight followed by 75 minutes of darkness … and that does affect your circadian rhythm,” MacLean replied. The astronauts’ sleep pattern “is driven by the rendezvous that we do with the station. That time is the key milestone and then we arrange our sleep schedules around that.” “But you can tell your son that sleeping in space is wonderful. We all sleep down on the main deck, some of us right side up, some of us are on the side and some of us are upside down. There’s more orientations up here, basically.”

Harper told MacLean that the country is proud of his achievements. “I’m sure it’s an adventure of a lifetime and … I expect your mission will inspire millions of Canadians, young people, and even some who are talking to you today to become interested in space and science and technology,” Harper said.

Harper wished MacLean well as the mission winds down. “I know you said … you wanted to bring home a gold medal for Canada, from everything I’ve seen on your performance yesterday, you are well on your way,” Harper said.

Canadian school children also got a chance to ask MacLean about his time aboard the shuttle.

MacLean walked in space on Wednesday. MacLean, with fellow Atlantis crew member Dan Burbank started their six-hour spacewalk at the international space station at 5:05 am ET. They are focusing their attention and tools on a ferris-wheel-like rotary joint that will allow two solar arrays, once unfurled, to always face the sun as the space station circles Earth. The solar arrays will supply a quarter of the space lab’s power when it is completed by 2010.

Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”

Thursday, April 24, 2008

In a unanimous 95-0 vote Thursday, the United States Senate passed a bill that would forbid employers and health insurance companies from discriminating against someone based on information learned through genetic testing.

The Genetic Information Nondiscrimination Act, described by Massachusetts Senator Ted Kennedy as “the first major new civil rights bill of the new century,” will now be sent back to the House of Representatives, where it could be approved as early as next week. President George W. Bush, who would have to sign the bill for it to become law, has voiced his support for the legislation.

The bill forbids employers from firing, refusing to hire, or otherwise discriminating against employees based on genetic information, such as a family history of a hereditary disease. It also makes it illegal for employers to request genetic information of an employee or the employee’s family.

Health insurance companies are also addressed in the bill, which forbids them from requesting genetic information or using such information to set premium rates or determine enrollment eligibility. However, insurance companies would still have the right to base one’s health coverage on the actual presence of a genetic disease.

“For the first time we act to prevent discrimination before it has taken firm hold and that’s why this legislation is unique and groundbreaking,” said Maine Senator Olympia Snowe, who sponsored the bill along with Sen. Kennedy and Sen. Mike Enzi. Snowe fears the threat of discrimination may discourage people from undergoing genetic testing, which can help to diagnose a wide range of diseases and lead to lifesaving therapy.

Kathy Hudson, director of the Genetics and Public Policy Center, reports that 92 percent are worried that information gained in genetic testing may be used against them. “After a very long wait,” she says, “Americans can now be confident that their genetic information cannot be used by health insurers or employers in harmful or hurtful ways.”

One part of the bill addresses this concern. “Federal legislation establishing a national and uniform basic standard is necessary to fully protect the public from discrimination and allay their concerns about the potential for discrimination,” the bill reads, “thereby allowing individuals to take advantage of genetic testing, technologies, research, and new therapies.”

Oklahoma Senator Tom Coburn initially blocked Senate action on the bill, warning that it could potentially lead to excessive lawsuits against employers and insurers. But after changes were made to the bill to ease his concerns earlier this week, he supported the legislation and allowed the Senate to vote on it. “We certainly improved the bill from a liability standpoint,” said Coburn, an obstetrician.

Similar bills were unanimously passed by the Senate in 2003 and 2005, but in both years the bill stalled in the House. The current bill was passed in the House of Representatives a year ago by a 420-3 vote. A genetic nondiscrimination bill was first introduced 13 years ago by New York Representatives Louise Slaughter, who says the House will “get it out to the White House as quickly as we can.”

Sunday, February 21, 2010

A man has died after being involved in a robbery of his shop in West Yorkshire, England. Four youngsters, described as wearing hooded jumpers and tracksuit trousers, raided the Cowcliffe Convenience Store in the town of Huddersfield at approximately 2030 GMT on Saturday.

63-year-old Gurmail Singh sustained head injuries as a result of the robbery. Six witnesses attempted to prevent the youths from exiting the shop but failed, and the teenagers managed to escape with confectionary, cigarettes and money. One witness claimed to see a hammer in posession of one of the offenders, however it is unknown if this was used in the attack.

Singh was taken to Huddersfield Royal Infirmary but died there at approximately 0330 GMT on Sunday. West Yorkshire Police have now launched an investigation into the death of Gurmail Singh. A post-mortem examination is scheduled to take place on Monday to attempt to discover how the shop-owner was killed. West Yorkshire Police are now appealing for witnesses or anyone who has information in relation to this incident to contact them.

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Wednesday, May 16, 2007

The Thomson Corporation and Reuters Group PLC announced Tuesday that they have agreed to combine the two companies. The boards of both Thomson and Reuters will recommend the merger to their shareholders.

The Canadian Thomson-family holding company Woodbridge, which controls 70% of Thomson, has agreed to vote in favour of the deal and the Reuters Founders Share Company, which controls a special share in Reuters, will also support the merger.

Based on the TSX CA$46.36 closing share price of Thomson on May 14, 2007, each Reuters share would be valued at 691 pence and, therefore, the full capital of Reuters valued at approximately £8.7 billion. Cash requirements for the deal are to be provided by Thomson. Woodbridge will own approximately 53 percent of the combined company, other Thomson shareholders 23 percent and Reuters shareholders about 24 percent.

The merger arrangement will leave two separate companies that will be operated as a single entity. The boards of the two companies will be identical as will the senior executive management team. Thomson will be renamed to Thomson-Reuters Corporation, and will be listed on both the TSX and the NYSE. Thomson-Reuters PLC will list on the London Stock Exchange and the NYSE.

Reuters current CEO, Tom Glocer, will become CEO of the combined company while Thomson President and CEO Richard J. Harrington will retire at the completion of the merger.

Thomson has currently 32,000 employees worldwide, with operations in 37 countries and revenues of US$6.6 billion in 2006. Thomson’s major business operations centre around financial information and legal services, with smaller ventures in tax accounting, health care, and the scientific field. Thomson is headquartered in Stamford, Connecticut, in the United States.

Reuters is one of the world’s largest news agencies, with a total of 16,800 staff in all divisions, but derives more than 90 percent of its revenue from its financial service business. It is the merger of Thomson and Reuter’s financial services divisions that may have been the genesis of the talks. It has been suggested that both companies wanted a better economy of scale to compete with Bloomberg, the American financial services giant.

“We are enormously proud of the evolution of The Thomson Corporation and the value it has created for all our shareholders,” said David Thomson, Chairman of Thomson. “We recognize the rich history of Reuters and are committed to uphold the Reuters Trust Principles.”

The chairman of Reuters, Niall FitzGerald, expressed his satisfaction with the merger. “The shared expertise and complementary strengths of these two companies makes for a strategically compelling and financially attractive combination,” said FitzGerald in a joint press release. “I am especially proud that Reuters journalism will continue to be governed by the powerful Reuter Trust Principles of independence, integrity and freedom from bias.”

The new company is projecting efficiencies of greater than US$500 million per year, by the end of the third year after closing the deal.

Criticisms were raised by Reuters journalists, who voiced concerns in an open letter to the Reuters Founders Share Company. They worried whether or not “a reconstituted Reuters would maintain the high standards of journalism and the integrity, independence and freedom from bias that have shaped the company’s 156-year-old reputation.”

It is expected that the merger will draw the attention of regulators due to the size and nature of the transaction. “Antitrust authorities in Europe and the U.S. are almost certain to apply a more detailed and lengthy review of the acquisition than is typical, because of the limited number of companies that supply prices, data, news and financial tools,” said Simon Baker, analyst, Credit Suisse in London.