Friday, October 2, 2009

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.

The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.

The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.

“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.

Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”

“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.

Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.

The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.

The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.

A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.

Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.

Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.

Tuesday, March 1, 2005

Aylesbury, England — The Arsenal F.C. midfielder Jermaine Pennant, currently on loan to Birmingham City, has today pleaded guilty to drink-driving, driving while disqualified, and driving without insurance by Aylesbury magistrates court. Pennant received a sentence of three months imprisonment. Pennant’s lawyer, Bary Warbutton, has said that the footballer will appeal against the severity of the sentence.

The incident occurred on January 23 of this year, Pennant was arrested after crashing teammate Ashley Cole’s car into a lamppost. The 22-year-old claimed that he crashed the car after attempting to operate the car’s Satellite navigation system.

Despite the claim by Warbutton that imprisonment “could completely destroy his career”, Birmingham City have said that they will stand by the player, and help to rehabilitate him. Arsenal released a statement saying that the sentence would not impact the player’s future with the club; his contract with club expires in the summer, at the same time as his loan-spell with Birmingham ends.

Monday, January 2, 2006

New Zealand’s warm sunny New Year’s weather has come to a sudden end as gale force winds and rain assault southern New Zealand.

In parts of the South Island New Year campers have finished their holiday early as winds averaging 120km/h (75 m/h), gusting at times up to 180km/h (112 m/h), have blown in.

Power went out to 1300 homes in the capital city Wellington; flights were grounded at the airport, with incoming flights diverted to Palmerston North airport.

“The North Island will also be affected by the low,” says MetService forecaster Michael Short, “with heavy rain around the Tararua Ranges and Mt Taranaki.”

The MetService has issued severe weather warnings for most of the South Island and the southern portion of the North Island; bad weather is also forecasted throughout the rest of the country.

The MetService says to expect bad weather for the next 10 days as a deepening low moves south of Stewart Island, but a flow of westerly winds is expected to stay put all week.

Holiday makers have been asked by MetService to review their holiday plans and keep up to date with the latest weather.

Friday, August 4, 2017

Yesterday, French capital football club Paris Saint-Germain triggered a €222 million (about US$263m, £198m) buyout clause of Brazilian winger Neymar to sign him from FC Barcelona, making him the most expensive footballer of all time by breaking the previous fee record of Paul Pogba’s transfer from Juventus FC to Manchester United. Neymar signed a five year contract with Paris SG which runs until June 2022.

25-year-old Neymar made his professional debut for Santos FC in January 2009, netting 138 goals in 229 matches. He was signed by FC Barcelona in 2013. Since then, Neymar has scored 105 goals and provided 80 assists in 186 games for Barça. In four seasons at Camp Nou, Neymar won two LaLiga titles, three Copa del Rey trophies, and one each of Champions League trophy Supercopa de España. Neymar was part of Barcelona’s treble winning squad in 2014–15, and finished third in 2015’s FIFA Ballon d’Or. Neymar made an international debut at the age of eighteen. He has scored 52 goals in 77 games for Brazil.

Paris SG’s Qatari president Nasser Al-Khelaifi said, “Today, with the arrival of Neymar Jr, I am convinced that we will come even closer, with the support of our faithful fans, to realizing our greatest dreams”.

After penning a five-year contract, Neymar said, “I am extremely happy to join Paris Saint-Germain. Since I arrived in Europe, the club has always been one of the most competitive and most ambitious. And the biggest challenge, what most motivated me to join my new teammates, is to help the club to conquer the titles that their fans want.”

Neymar’s lawyer submitted a check of €222m to deposit Neymar’s buy-out clause at LaLiga’s headquarters, but it was rejected. LaLiga officials issued an official statement, which read, “We can confirm that the player’s lawyers came to the La Liga offices this morning to deposit the clause and that it has been rejected.[…] That’s all the information we are giving out at this moment.”

Later, Neymar’s legal representative delivered the check to FC Barcelona. A statement from Barcelona confirmed they received the payment and Neymar was no longer contracted to the club. The statement read, “On Thursday afternoon Neymar Jr’s legal representatives visited in person the Club’s offices and made the payment of 222 million euros in the player’s name with regards to the unilateral termination of the contract that united both parties.” ^{((es))Spanish language: ?Esta tarde, representantes legales de Neymar Jr. se han personado en las oficinas del Club y han hecho efectivo, en nombre del jugador, el pago de 222 millones de euros, en concepto de indemnización por la rescisión unilateral y sin causa del contrato que unía a ambas partes.} It also said, “the Club will pass on to UEFA the details of the above operation so that they can determine the disciplinary responsibilities that may arise from this case.” ^{((es))Spanish language: ?el Club trasladará a la UEFA los detalles de esta operación para que depuren las responsabilidades disciplinarias que puedan derivarse de este caso.} Financial fair play rules prevents European clubs from spending more than €30 million from their earnings. Paris SG was fined by UEFA in 2014 for violating financial fair play rules.

Manchester United’s manager José Mourinho, who spent about €105 million last season to sign Paul Pogba, and a reported fee of €75 million to sign Belgian striker Romelu Lukaku from Everton FC this season, said, “Expensive are the ones who get into a certain level without a certain quality. For £200m, I don’t think [Neymar] is expensive. […] I think he’s expensive in the fact that now you are going to have more players at £100m, you are going have more players at £80m and more players at £60m. And I think that’s the problem. […] So I think the problem is not Neymar, I think the problem is the consequences of Neymar.”

Liverpool manager Jürgen Klopp said, “I thought Fair Play was made so that situations like that can’t happen. That’s more of a suggestion than a real rule.”

French club Lille director general Marc Ingla, who had once served as Barça’s vice-president said, “It’s a blow for Barcelona. Neymar is an accelerator to this bright future of Ligue 1. The young talent pool we have here is the best in Europe. For sure we can still compete with PSG. Once you get on the pitch it’s 11 v 11 and all the transfer fees and salaries narrow a bit.”

Before the official announcement of the agreement, yesterday, Arsenal’s manager Arsène Wenger also remarked about the financial fair play and said, “Once a country owns a club, everything is possible. It becomes very difficult to respect the financial fair play because you can have different ways or different interests for a country to have such a big player to represent [that] country. It can’t justify the investments and looks unusual for the game. That’s why I always [support] football living with its own resources. You don’t look at the numbers in their absolute value anymore. Football has been for a long time out of normal society and the numbers are like the NBA in basketball, so it’s not comparable to normal life anymore. Those are the numbers. It was already out of context of society, so after it just becomes a bit extra. You cannot calculate what it brings in anymore, it’s just a number.”

On Wednesday, Neymar’s Lionel Messi posted on Instagram: “It was a great pleasure to have shared all these years with you, friend @neymarjr [Neymar]. I wish you good luck in this new stage of your life. See you tomorrow” ^{((es))Spanish language: ?Fue un placer enorme haber compartido todos estos años con vos, amigo @neymarjr [Neymar]. Te deseo mucha suerte en esta nueva etapa de tu vida. Nos vemos Tkm}.

Barcelona’s striker Luis Suárez dedicated an Instagram post for Neymar after Lionel Messi, and said, ” My friend i wish you the best in everything that comes!!! Also thank you for your support, for everything that i learned with you and for the unique moments that we spent together!!!! Keep like this and never change love you little bro” ^{((es))Spanish language: ?Amigo desearte todo lo mejor en lo que viene!!! También agradecerte todo el cariño que me diste, por lo que aprendí contigo y por los momentos únicos que pasamos!!!! Seguí así y no cambies nunca te quiero hermanito}.

Neymar has been assigned number 10 jersey.

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

Thursday, September 25, 2008

The FBI is investigating 26 firms and 1,400 individuals involved in the US financial crisis for fraud and “sub-prime lending practices”. Freddie Mac, Lehman Brothers, Fannie Mae and AIG are among the firms being scrutinized after recently receiving federal bailouts.

Investigators, who are cooperating with the IRS, Postal Office, and other federal offices to complete their investigation, are concerned that major corporations may have also forced or bribed ratings agencies to favor them.

The probe, which is in early stages, began eight months ago when the FBI began taking a close look at the mortgage industry and widespread irresponsible loaning practices. At least one corporation has been raided, but so far no evidence of fraud has been found.

The FBI has questioned executives of each of the firms closely, and arrested two in June. An anonymous source told The Times that the firms had been ordered to “hold all papers and e-mails under lock and key” as the FBI scours the finances of each firm.

Many of the companies and individuals being investigated are at the center of the nationwide financial crisis and controversial bailout plans, and have been widely blamed for the country’s financial crisis. The investigation has come at a time when the eyes of many in the US and around the world are turned towards the financial markets, as Congress and politicians scramble to fix the crisis while the election date looms closer.

Officials told CNN that it would be a long time before the investigations were finished, adding a warning: “Don’t expect indictments tomorrow or next week or next month”.

Wednesday, November 25, 2009

The prime minister of Israel, Binyamin Netanyahu, told a news conference earlier today that there will be a ten-month stop in the construction of new settlement housing in the West Bank. The Israeli cabinet approved the move by a margin of eleven to one.

“We have been told by our friends that once Israel takes the first meaningful steps towards peace, the Arab world and the Palestinians will follow,” said Netanyahu following the cabinet’s endorsement of the move. “Well, the government of Israel has taken a very big step towards peace today, and I hope the Palestinian and the Arab world will work with us to forge a new beginning for our children and theirs.”

The freeze was made “out of broad national interests with the aim of encouraging negotiations with our Palestinian neighbours,” he continued. “When the period of freeze ends my government will return to the previous policy of building in Judea and Samaria [the Jewish name for the West Bank].”

“This is a far-reaching and painful step […] We hope that this decision will help launch meaningful negotiations to reach an historic peace agreement that will finally end the conflict between Israel and the Palestinians,” Netanyahu later said.

Under the plan, construction permits for new residential buildings would be put on hold for ten months. The government said that “natural growth” — characterised by the construction of homes by young people, who were raised in the settlements and want to build houses for their own families — would be exempt from the freeze. Parts of the West Bank that Israel annexed to the Jerusalem municipality would also be excluded from the freeze. The building of schools and places of worship, which will enable settlers to live what Netanyahu described as “normal lives”, will also continue.

“We will not halt existing construction and we will continue to build synagogues, schools, kindergartens and public buildings essential for normal life in the settlements,” he commented.

The prime minister added that there would be no change to Israel’s existing policy on the issue of Jerusalem. “Regarding Jerusalem, our sovereign capital, our position is well-known. We do not put any restrictions on building in our sovereign capital,” he said.

Several members of the Israeli cabinet expressed their disapproval at the proposal, with the conservative, ultra-Orthodox Shas party boycotting the cabinet meetings.

“I think it’s a complete crumbling of Netanyahu’s position and is contrary to all of his electoral promises. He promised an end to unilateral steps, and here we see him after only a few months in office giving up, even though there is no reciprocity from the Palestinians,” said the head of the main settler lobby, Danny Dayan, to the Christian Science Monitor. We are 300,000 citizens, living in 150 communities. It is impossible to freeze us. I don’t how it will happen, but we will break this freeze.”

Many Palestinians also criticised the proposal, mainly because East Jerusalem was not included in the settlement freeze. Nabil Abu Rudeineh, a Palestinian spokesman, said to the Wafa news agency that Palestine “rejects returning to peace talks without the complete cessation of settlement activities in the West Bank and Jerusalem.”

Palestinian prime minister Salam Fayyad also rejected the plan. “The exclusion of east Jerusalem is a very, very serious problem for us. We are not looking for the resumption of the process just for the sake of it, for it to falter a week or two down the road,”

Israel captured East Jerusalem from Jordanian control, following Israel’s victory in the 1967 Arab-Israeli War. The Jewish state annexed that part of the city in a move that was not recognized by the international community.

Earlier this week, on a visit to Argentina, Palestinian President Mahmoud Abbas stepped up his campaign to put international pressure on Israel to stop building on lands that Palestinians say are their own. Abbas urged US president Barack Obama, as well as leaders of other nations that support Israel, to press the Jewish state to end its construction of settlements on occupied lands.

Netanyahu has in the past offered to restrain settlement growth, but today’s announcement was the first time that he set a clear timeframe.