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Thursday, February 17, 2005

Alan Greenspan, Chairman of the Federal Reserve has suggested that there will be more of the same in coming months from the Fed. In his speech during testimony before the U.S. Senate Banking Committee on Wednesday, Mr. Greenspan noted that the economic fundamentals of the U.S. appeared to be stable. On Thursday, Greenspan spoke before the U.S. House Committee on Financial Services and when faced with questions regarding Social Security reform issues, he hinted that he was in favour of partial privatization of Social Security – but the general consensus on Wall Street is to expect more of the same.

However, economic advisors were somewhat disappointed that most of the testimony in both speechs was focused on the upcoming Social Security reform and did not address monetary policy as broadly as they’d hoped. Mike Moran, chief economist at Daiwa Securities America Inc, is quoted in the Investors Business Daily as saying “Chairman Greenspan provided few explicit insights into his plans for monetary policy.”

Greenspan reiterated his concerns about market reactions to the burgeoning federal deficit. “We are not sure to what extent and how much the market will respond,” he said.

Parsing Greenspan’s reports to Congress is a Wall Street obsession, but the general consensus from his recent testimony is to expect little change in the current Fed policy. Economists expect “measured” hikes to the central bank’s short-term interest rates from the next few meetings of Fed policy-makers.

“In my view the bottom line is that we are in for more of the same,” said Steve Stanley, chief economist at RBS Greenwich Capital to the Associated Press.

Thursday, October 22, 2020

2020 Melbourne Lord Mayor candidate Wayne Tseng answered some questions about his campaign for the upcoming election from Wikinews. The Lord Mayor election in the Australian city is scheduled to take place this week.

Tseng runs a firm called eTranslate, which helps software developers to make the software available to the users. In the candidate’s questionnaire, Tseng said eTranslate had led to him working with all three tiers of the government. He previously belonged to the Australian Liberal Party, but has left since then, to run for mayorship as an independent candidate.

Tseng is of Chinese descent, having moved to Australia with his parents from Vietnam. Graduated in Brisbane, Tseng received his PhD in Melbourne and has been living in the city, he told Wikinews. Tseng also formed Chinese Precinct Chamber of Commerce, an organisation responsible for many “community bond building initiatives”, the Lord Mayor candidate told Wikinews.

Tseng discussed his plans for leading Melbourne, recovering from COVID-19, and “Democracy 2.0” to ensure concerns of minorities in the city were also heard. Tseng also focused on the importance of the multi-culture aspect and talked about making Melbourne the capital of the aboriginals. Tseng also explained why he thinks Melbourne is poised to be a world city by 2030.

Tseng’s deputy Lord Mayor candidate Gricol Yang is a Commercial Banker and works for ANZ Banking Group.

Currently, Sally Capp is the Lord Mayor of Melbourne, the Victorian capital. Capp was elected as an interim Lord Mayor in mid-2018 after the former Lord Mayor Robert Doyle resigned from his position after sexual assault allegations. Doyle served as the Lord Mayor of Melbourne for almost a decade since 2008.

Friday, August 2, 2013

A man and a woman have been killed in a road traffic accident near Connel in the west of Scotland. Seven people, including three children, were also injured in the head-on collision on the A85 road in Argyll at approximately 1830 BST (1730 UTC) yesterday.

A 74-year-old female passenger of a blue Honda CRV and a 32-year-old male passenger of a blue Vauxhall Vectra died at the scene of the crash. The Vauxhall driver, a 32-year-old woman, was transported by helicopter to Glasgow’s Southern General Hospital, where she is reportedly in a critical albeit stable condition.

Three child passengers in the Vauxhall, aged fourteen, five and two, were taken to Oban Hospital and given treatment for minor injuries, as were the Honda’s 51-year-old female driver and two female passengers aged 49 and 46.

A Scottish Fire and Rescue Service spokesperson said hydraulic cutting equipment was used during rescue efforts. “Ambulance personnel and police officers worked closely with our team throughout the incident but sadly one passenger from each car lost their life”, the spokesperson continued. “The thoughts of all emergency responders who were at the scene will be with the casualties and their loved ones as they attempt to come to terms with what has happened.”

Police have appealed for potential witnesses to contact them.

Monday, September 5, 2011

According to United States diplomatic cables passed to WikiLeaks, Mayawati, Chief Minister of the Indian northern state Uttar Pradesh, made use of her private jet to have sandals collected from Mumbai.

Mayawati, a member of the Bahujan Samaj Party (BSP) – which claims to follow a Dalit Socialism ideology – self-identifies as a Dalit. The Dalits are largely those traditionally regarded as Untouchables within Indian society.

One cable, named “Portrait of a Lady”, recently published by WikiLeaks describes the 55-year-old Mayawati as, “a first-rate egomaniac who is obsessed with becoming prime minister”.

“When she needed new sandals, her private jet flew empty to Mumbai to retrieve her preferred brand,” a cable dated October 23, 2008 states; adding, the chief minister is paranoid about her security and fears assassination, employing food tasters to guard against poisoning. The US embassy documents state Mayawati celebrates her birthday each year by receiving millions of dollars in gifts from party members, civil servants and business people whilst officials vie for a chance to feed her cake. An account of Mayawati making a state minister do sit-ups in front of her as punishment for a minor protocol error is included.

Further allegations report a cost of $250,000 to run as a parliamentary candidate for the BSP headed by Mayawati; this allegedly due to institutionalised corruption. “She constructed a private road from her residence to her office, which is cleaned immediately after her multiple vehicle convoy reaches its destination,” the cables claim.

Mayawati, often referred to as the “Dalit Queen”, has been criticised many times, notably for the building of numerous statues of Buddhist and Dalit icons, and of herself.

The single, ex-school teacher, has as-yet not responded to the allegations made in the newly published cables.

Monday, June 7, 2021

In a meeting that was held virtually, Latrobe City Council in Victoria, Australia today unanimously approved its 2021/2022 draft budget. Rates and charges are due to be increased by 1.5%, and A$31.196 million has been allocated for capital works. A$10 million of funding that was borrowed in the previous 2020/2021 budget will be used to fund local projects, with A$7.5 million for the second stage of upgrades to the Moe rail precinct, and A$2.5 million to the upgrade of Kernot Hall, a venue in Morwell.

Speaking about the budget, Councillor Graeme Middlemiss deemed it “a masterful piece of financial engineering”, declaring that the budget would ensure no losses of service for the local community. Middlemiss said that following the closure of Hazelwood Power Station, government grants were issued that led to the construction of a number of local facilities, including a performing arts centre, an aquatic centre, and a basketball stadium. However, told Middlemiss, these facilities caused significant financial strain on the council, with the performing arts centre being funded 40% by Latrobe City Council, and the new facilities also created operating costs for the council to bear.

Speaking about the Moe rail upgrades, Middlemiss said that the council was “fobbed off by the federal government”, with the local federal member of parliament Darren Chester having directed the council to apply for a fund that Middlemiss claimed had closed. This led the council to borrow A$7.5 million to fund the rail upgrades in this budget. Middlemiss predicted that the financial situation could tighten in the next years, but that “at the moment, I think our community will be quite happy with this budget.”

The draft 2021/2022 budget was released on April 12, with 28 days being set aside for written submissions. Those who chose to submit were given the opportunity to speak to their submissions on May 24 at an unscheduled council meeting. One of these submitters who chose to speak was Barbara Johnson, a representative of the Latrobe Combined History Group. The budget resolution now contains a doubling of funding for the area’s 6 local historical societies, who currently each recieve $500 per year. Under this budget, that figure will be doubled to $1000 per year. Deputy Mayor Darren Howe praised the societies’ “outstanding service” today when speaking about the budget, while also thanking Johnson for her recent presentation.

Councillor Dale Harriman today said that he had a number of people contact him about the increased charges proposed in this budget. Harriman said that he understood their annoyance with rising fees, but acknowledged the “constant cost to maintain the facilities”, saying the 1.5% rate rise cap statewide had an impact on the services provided, and ultimately that given the circumstances, the solution provided was the best one, and that the charges would be kept to a minimum.

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Thursday, May 13, 2010

Wikinews reporter Iain Macdonald has performed an interview with Dr Isabella Margara, a London-based member of the Communist Party of Greece (KKE). In the interview Margara sets out the communist response to current events in Greece as well as discussing the viability of a communist economy for the nation. She also hit back at Petros Tzomakas, a member of another Greek far-left party which criticised KKE in a previous interview.

The interview comes amid tensions in cash-strapped Greece, where the government is introducing controversial austerity measures to try to ease the nation’s debt-problem. An international rescue package has been prepared by European Union member states and the International Monetary Fund – should Greece require a bailout; protests have been held against government attempts to manage the economic situation.

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.