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.

Wednesday, May 23, 2018

On Monday, San Jose, California, US-based software company Adobe Systems announced their plans to acquire California-based e-commerce handling web service Magento Commerce for 1.68 billion US dollars (USD). After Adobe made the announcement via their official website, Adobe’s stocks rose by around one percent, ending Monday extended trading at USD 238.10 per share.

Magento provides services for the creation of digital ads and handling of online transactions. Magento’s services are used by Nestlé, Coca-Cola, Warner Music, and Canon. The acquisition, which is expected to take place in the third fiscal quarter of this year, is to be an all-cash deal. Adobe is to acquire Magento from Permira equity firm. In 2015, Permira bought Magento from eBay, an eCommerce website. Adobe, in their official statement, said, “Magento Commerce Cloud will enable commerce to be seamlessly integrated into the Adobe Experience Cloud”.

Adobe also announced a buyback of shares worth USD eight billion by 2021. Magento’s CEO Mark Lavelle said, “Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation […] We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community”.

After the announcement, stocks of Magento’s competitors Shopify, Inc dropped by about 4.8%. They finished extended trading at USD 137.60 after the announcement.

Thursday, August 16, 2007

The name Robert Cailliau may not ring a bell to the general public, but his invention is the reason why you are reading this: Dr. Cailliau together with his colleague Sir Tim Berners-Lee invented the World Wide Web, making the internet accessible so it could grow from an academic tool to a mass communication medium. Last January Dr. Cailliau retired from CERN, the European particle physics lab where the WWW emerged.

Wikinews offered the engineer a virtual beer from his native country Belgium, and conducted an e-mail interview with him (which started about three weeks ago) about the history and the future of the web and his life and work.

Wikinews: At the start of this interview, we would like to offer you a fresh pint on a terrace, but since this is an e-mail interview, we will limit ourselves to a virtual beer, which you can enjoy here.

Robert Cailliau: Yes, I myself once (at the 2nd international WWW Conference, Chicago) said that there is no such thing as a virtual beer: people will still want to sit together. Anyway, here we go.

Tuesday, April 22, 2014

Coinciding with Easter Sunday, Glasgow Cannabis Social Club’s annual 420 event was held on Glasgow Green, under sunny blue skies, and overlooking the river Clyde. Despite the city’s council attempting to revoke permission for the gathering at the last minute, police were happy for it to go-ahead with approximately a dozen officers attending in high-visibility vests.

The Daily Record reported five arrests were made for minor offences, likely smoking and possession of small quantities of cannabis. Taking a less-sensational — and more accurate — line of reporting, the Monday edition of Glasgow’s Evening News stated five were referred to the Procurator Fiscal who is responsible for deciding if charges should be brought.

Official figures provided by the police were that 150 attended. With people coming and going, Wikinews reporters estimated upwards of 200 attended, compared to nearly 700 who had signed up for the event on Facebook. Hemp goods were advertised and on sale at the event, and some attendees were seen drinking cannabis-themed energy drinks.

“I was searched and charged under the Misuse of Drugs Act (which is a lot of bollocks)” one attendee noted online, adding “not fair to happen on a brilliant day like it was, other than that I had a great day!” A second said they were openly smoking and ignored by police, who “were only really focusing on people who looked particularly young”.

Cannabis seeds were openly and legally sold at the event and a hydroponics supplier brought a motortrike towing an advertising trailer. Actually growing cannabis is, however, illegal in the UK.

With the event openly advocating the legalisation of cannabis, speakers put their arguments for this to a receptive crowd. Retired police officer James Duffy, of Law Enforcement Against Prohibition, spoke of the failed United States alcohol prohibition policy; stressing such policies needlessly bring people into contact with criminal elements. Highlighting other countries where legalisation has been implemented, he pointed out such led to lower crime, and lower drug use overall.

One speaker, who produced a bottle of cannabis oil he had received through the post, asserted this cured his prostate cancer. Others highlighted the current use of Sativex by the National Health Service, with a cost in-excess of £150 for a single bottle of GW Pharmaceuticals patented spray — as-compared to the oil shown to the crowd, with a manufacturing cost of approximately £10.

Similar ‘420’ pro-cannabis events were held globally.

A compilation of brief news reports for Friday, March 2, 2007.

United States fast-food chain Popeyes Chicken and Biscuits has filed a $20 million dollar lawsuit against competitor Church’s Chicken.

Popeyes Chicken says fast-food chain Church’s Chicken was trying to steal customers.

AFC owned both companies for 12 years, till it sold Church’s in 2004. AFC claims that Church bought all 10 Popeyes restaurants owned by franchisee CVI. Popeyes Chicken says the sale of the 10 restaurants violated its franchise agreement with CVI.

The sudden buy-out in December 2006 led the restaurants to close in early January 2007.

“What Church’s chose to do, I do believe, was not honest competition,” said Ken Keymer, CEO of AFC Enterprises Inc., the parent company of Popeyes.

Church’s spokesperson chose not to comment on the issue.

Sources

• Kyle Arnold. “Popeyes file suit over Churchs’ buyout” — The Monitor, March 1, 2007
• Associated Press. “Popeyes Chicken sues Church’s Chicken” — BusinessWeek, February 28, 2007

The national body for scientific research in Australia, the CSIRO has announced that 93 species of shrubs and small trees of the w:genus Dryandra have been been merged into the genus Banksia in the series Dryandra. This increased the number of Banksia species from 80 to 173.

The plants are endemic to the southwestern corner of Western Australia and the former genus was named in honour of the Swedish botanist Jonas C. Dryander.

Sources

• A.Mast and K.Thiele. “The transfer of Dryandra R.Br. to Banksia L.f. (Proteaceae)” — CSIRO, February 26, 2007

Saturday, July 9, 2005

Today The Walt Disney Company issued a joint statement with business partners Roy E. Disney and Stanley Gold to the media, as a show of reunion between the two camps after nearly three years of hostility.

Roy E. Disney, son of company co-founder Roy O. Disney and nephew of the company namesake Walt Disney, had resigned from his job as chairman of Feature Animation at the company after experiencing difficulty with the company’s board of directors, many of whom were biased towards company CEO Michael Eisner‘s view of what direction the company should take.

Eisner is due to retire from the company this September, and the talks with Disney and Gold are believed to have been led by Eisner’s successor, Bob Iger, who is currently President and COO of the company. Iger has shown great interest in building relationships back up with many companies who have refused to work with Disney until Eisner leaves, such as Pixar Animation and George Lucas.

Large scores of Disney fans had hoped Roy would read the Disneyland Dedication Speech on the theme park’s fiftieth birthday next week, which was originally read by Walt on the park’s opening day, but Roy had already entered an annual sailing race from Los Angeles to Honolulu.

Saturday, September 8, 2007

Leaders attending the APEC summit in Sydney, Australia have worn Driza-Bone coats for their traditional group photo in front of the Sydney Opera House. In APEC tradition, leaders wear attire which draws inspiration from the host nation’s national costume.

Australia’s choice was made by Prime Minister John Howard and his wife Janette. Australia does not have a national costume. In an APEC statement it was revealed that Driza-Bone had been consulted to produce an outfit that “captures the essence of Australia’s culture and environment.”

“Driza-Bone coats were born over 100 years ago when a sailor fashioned waterproof coats out of windjammer sails for protection against the harsh Australian trade winds,” the statement said.

“These coats were also perfect for people working on the vast Australian continent and have since been adapted into the perfect riding and outback attire.”

The custom-made knee-length coats worn by the leaders were the traditional dark brown of all Driza-Bones and had differing colours for the lapels and linings – slate blue for Australia’s vast coastline, mustard yellow for the sun and sand; red ochre for the outback and eucalyptus green for the bush. Leaders were given the choice over which highlight colour they wanted.

The choice of costume was a closely guarded secret by Australia officials, with speculation rife throughout the media. It has been suggested that the costume could include “budgie smugglers” (male swimwear)- and thongs (flip flops) to represent the beach;blue singlets and shorts favoured by labourers or khaki gear in memory of Steve Irwin.

The group photo is said to be one of the most anticipated parts of the APEC summit, with people wanting to see which leader looks the “silliest”. In the past leaders have been dressed in silk tunics, leather bomber jackets and Batik-print shirts.

Sunday, November 26, 2006

A suicide bomber has killed at least seven people in an attack on a restaurant situated in south-eastern Afghanistan. Twenty people are seriously injured in the attack.

The attack took place in the Urgun district of Paktika province, which shares its border with that of Pakistan.

Governor Mohammed Akram Akhpelwak said that most of those killed are civilians. He added that intention of the attack could have been to target a senior provincial official and an Afghan special forces commander.

Thursday, October 18, 2007

It can be difficult to be John Reed.

Christopher Hitchens called him a “Bin Ladenist” and Cathy Young editorialized in The Boston Globe that he “blames the victims of terrorism” when he puts out a novel like Snowball’s Chance, a biting send-up of George Orwell‘s Animal Farm which he was inspired to write after the terrorist attacks on September 11. “The clear references to 9/11 in the apocalyptic ending can only bring Orwell’s name into disrepute in the U.S.,” wrote William Hamilton, the British literary executor of the Orwell estate. That process had already begun: it was revealed Orwell gave the British Foreign Office a list of people he suspected of being “crypto-Communists and fellow travelers,” labeling some of them as Jews and homosexuals. “I really wanted to explode that book,” Reed told The New York Times. “I wanted to completely undermine it.”

Is this man who wants to blow up the classic literary canon taught to children in schools a menace, or a messiah? David Shankbone went to interview him for Wikinews and found that, as often is the case, the answer lies somewhere in the middle.

Reed is electrified by the changes that surround him that channel through a lens of inspiration wrought by his children. “The kids have made me a better writer,” Reed said. In his new untitled work, which he calls a “new play by William Shakespeare,” he takes lines from The Bard‘s classics to form an original tragedy. He began it in 2003, but only with the birth of his children could he finish it. “I didn’t understand the characters who had children. I didn’t really understand them. And once I had had kids, I could approach them differently.”

Taking the old to make it new is a theme in his work and in his world view. Reed foresees new narrative forms being born, Biblical epics that will be played out across print and electronic mediums. He is pulled forward by revolutions of the past, a search for a spiritual sensibility, and a desire to locate himself in the process.

Below is David Shankbone’s conversation with novelist John Reed.

Friday, November 3, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Don Valley West (Ward 26). Four candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Muhammad Alam, Bahar Aminvaziri, Orhan Aybars, Michele Carroll-Smith, Mohamed Dhanani, Abdul Ingar, Geoff Kettel, Debbie Lechter, Natalie Maniates, John Masterson, John Parker, David Thomas, Csaba Vegh, and Fred Williams.

For more information on the election, read Toronto municipal election, 2006.