Author: Admin

Thursday, July 1, 2010

The US House of Representatives passed a significant overhaul of financial regulations that strengthens the government’s hold on banks and also creates a new federal agency to oversee consumer lending on Wednesday.

“Never again, never again should Wall Street greed bring such suffering to our country,” said House Majority Leader Steny Hoyer, D-MD after the bill was passed by the House.

The House vote, which was mainly split over party lines, had 237 representatives in favor and 192 opposed. Only three Republicans voted for the bill, though this was an increase from December, when no Republicans voted for the previous version of the bill. This new bill combines the old December bill with a newer one passed by the more conservative Senate last month.

But even though the Senate passed their bill already, support for the one passed Wednesday looks a little uncertain. Since earlier this year the Democrats lost their 60 vote filibuster majority, they had to secure the votes of a few more moderate Republican senators to beat back procedural hurdles. Democrats struggled to win the full support of these senators even after backing down on a US$19 billion tax on big banks and hedge funds, which had been opposed by Republicans. This group of senators includes Scott Brown, Olympia Snowe and Susan Collins. All three voted for the Senate bill last month.

The $19 billion tax was inserted in the 2000 page plus bill late last week, which came as a surprise to many large banks. Brown initially objected to the tax, and threatened to vote against the entire bill if the tax was not removed. Instead, the new way of financing the bill’s cost will be using $11 billion in cash that came from ending the Troubled Asset Relief Program (TARP), a bill passed in 2008 that bailed out struggling banks, and also by increasing rates that banks pay to insure bank deposits to the Federal Deposit Insurance Corp. However, the increase in rates won’t affect banks with assets of less then $10 billion.

On Wednesday, Collins wrote a statement saying that she now planned to vote for the bill. However, Brown remained on the fence and said he would use recess during the week of July 4th to examine the details of the bill. He credited Senate Banking Committee Chairman Chris Dodd for “thinking outside the box” in coming with a new way to fund the bill.

Other Republicans were much more opposed to the bill, and attacked it for failing to place tighter restrictions on Fannie Mae and Freddie Mac, the mortgage giants that helped trigger the economic and housing meltdowns. House Republican leader John Boehner compared the new bill to using a nuclear weapon on an ant. In response, President Barack Obama said in a speech in Racine, Wisconsin that “[i]f the Republican leader is that out of touch with the struggles facing the American people, he should come here to Racine and ask people if they think the financial crisis was an ant.”

Tuesday, June 19, 2007

Aung San Suu Kyi, the detained leader of the National League for Democracy in Myanmar marked her 62nd birthday today, still under house arrest, where she has spent most of the past 17 years.

About 250 supporters met at the National League for Democracy (NLD) headquarters in Yangon, not far from Suu Kyi’s home, and held a rally calling for her release. Doves and balloons were released into the air, under the watchful eyes and video cameras of around 50 plainclothes police officers, who were stationed across the street.

The police force was augmented by a dozen truckloads of members of the Union Solidarity and Development Association, the political arm of the State Peace and Development, the junta that rules Myanmar.

“The doves symbolise peace. We also released colourful balloons, which rise like her prestige when they fill the sky,” NLD women’s wing leader Lai Lai was quoted as saying by Agence France Presse.

With the party marking marking Suu Kyi’s birthday as “Myanmar Women’s Day,” Lei Lei read out a statement at the ceremony, calling Suu Kyi “irreplaceable” and praising her “honesty, bravery and perseverance.”

Security was beefed up around Suu Kyi’s lakeside home on University Avenue, which is usually open to traffic during daytime, but is closed on significant anniversaries such as Suu Kyi’s birthday or the May 30 anniversary of her detention.

NLD supporters said police were also watching their homes.

“Plainclothes police circled around my house on their motorcycles last night until dawn,” Su Su Nway, 34, was quoted as saying by Agence France-Presse. She was arrested on May 15 with 60 others during a prayer rally for Suu Kyi in Yangon, and was released for health reasons on June 7. She said around 52 NLD supporters were still in custody.

Suu Kyi is generally barred from receiving visitors, so she spent the day alone. Except for her maid, a personal physician, a dentist and an eye specialist, the only other person to visit with Suu Kyi in the past year was United Nations Undersecretary-General for Political Affairs Ibrahim Gambari, whom she met for one hour last November at a government guest house.

Winner of the 1991 Nobel Peace Prize, Suu Kyi has been under house arrest for 11 of the past 17 years, continuously since 2003. Her National League for Democracy won a landslide election in 1990, but the military, which has ruled Myanmar since 1962, refused to honor the results. The country is also known as Burma, but the military government renamed it Myanmar in 1989.

Calls for Suu Kyi’s release have been issued by the NLD, various world bodies and other countries, but the pleadings have been met by no response from the generals.

“In our view, until their constitution is ratified, she will not be released,” Sann Aung, a Bangkok-based leader of the Burmese government-in-exile was quoted as saying by Reuters.

“They are worried that she will be a threat to the National Convention and the referendum,” he told Reuters, referring to the planned national referendum on a new constitution that is being written by the generals.

The Nation newspaper in Bangkok marked Suu Kyi’s birthday with an editorial, saying that sanctions against the Myanmar regime have been ineffective.

“The junta has earned huge amounts of foreign revenue from oil and gas exports, with prices jacked up many times over. With rich mineral resources, energy hungry countries have been attracted to Burma despite the repressive nature of the junta,” the editorial said, also making note of a recent deal that Russia has made to build nuclear reactor in Myanmar.

The paper also said Myanmar bodes ill for the 10-member Association of Southeast Asian Nations regional grouping.

“As long as Aung San Suu Kyi remains incarcerated, ASEAN’s reputation and the group’s international standing will be tarnished. Asean leaders have repeatedly appealed to the Burmese junta to free her, but to no avail … today, Burma is the black sheep of ASEAN. Without any current provisions for sanctions, Burma will remain as intransigent in the future as it is today.”

Saturday, September 4, 2021

Since June 2019, the people of South Gippsland Shire, located at the southernmost tip of Australia, have been without a local council, after a state government inquiry found “high levels of tension” within the council. Administrators were appointed by the Victorian state government in July 2019, who have governed the shire since then. However, South Gippsland’s council is scheduled to be restored with an election to be held via post from October 5-22, 2021.

Wikinews interviewed one of the candidates standing in this election, Sue Plowright. She is an independent contesting the Coastal-Promontory ward, which covers towns such as Venus Bay, Waratah Bay, Yanakie, Foster, Port Welshpool, and Toora. The Coastal-Promontory Ward elects three councillors to the South Gippsland Shire Council.

Thursday, June 5, 2008

On June 3rd, 2008, two United States Internet service providers (ISPs) announced they would begin tests to slow web access for their most active customers and charge them for extra speed. Comcast and Time Warner Cable, two of the largest ISPs in North America, both made separate announcements of their plans. The actions come in the wake of an investigation by the Federal Communications Commission (FCC), over whether Comcast had restricted some customers from sharing videos, music, and similar files. The FCC investigation led to a US Congress debate over whether and how much control ISPs should have over the flow of customer data.

Public interest groups complained in November 2007 to the FCC that Comcast had specifically targeted customers using applications that made use of the BitTorrent system, a popular form of file sharing. Free Press, an advocacy group that pushes for better oversight of cable operators such as Comcast, stated that Comcast practices were discriminatory towards users of the legal technology. “The cable companies see a hammer hovering above their heads and are scrambling to find ways to reduce the appearance of wrongdoing,” said Ben Scott, head of the group.

According to Roger Entner, a senior vice president from Nielsen IAG, as little as 5 percent of all Internet users may consume as much as 50 percent of all the bandwidth on the Internet. “This is the politically correct version of doing what Comcast had been doing before, though it takes the occasional [peer-to-peer] user off the hook,” Entner said. Sena Fitzmaurice, a Comcast spokesperson, said, “This says we won’t be looking at what type of traffic that there is, even though we still need to manage the network.”

Comcast’s tests are expected to begin in Chambersburg, Pennsylvania and Warrenton, Virginia.

While Comcast will attempt to throttle the speed of all its high-volume users, Time Warner Cable intends to use a different method. They will meter and bill clients, charging more money for faster speeds and larger amounts of transmitted data, functioning more like a traditional public utility, such as an electric company or cell phone service. Their metered billing test will begin on June 5 in Beaumont, Texas for newly enrolled customers. “Instead of raising prices across the board, consumers who are excessive users would pay,” said Alex Dudley, a Time Warner Cable spokesman. “It is clearly the fairest way to fund the investment that is going to be required to support that use.”

An Associated Press report that Time Warner Cable will bill customers between $29.95 to $54.90USD per month has been confirmed by the cable operator, with clients charged an extra $1 for each gigabyte (GB) by which they exceed their purchased plan. Art Brodsky, communications director of Public Knowledge, a consumer advocacy group in Washington D.C., has expressed concerns about the Time Warner Cable plan. Time Warner Cable’s most expensive offering, $54.90, comes with 15 megabits-per-second of data transfer speed and a 40 gigabyte limit on total data transfer.

“An HD (high-definition) movie is 8GB or so, three movies is more than half your allowance for a month, and heaven knows what else you might want to watch,” Brodsky says. “This is not a relieving congestion scheme as much as it is a rationing scheme. All it does is protect an inadequate infrastructure from the cable company.”

Friday, March 10, 2017

UK chancellor Philip Hammond announced his 2017 budget on Wednesday, which included a £2 billion pledge to social care and a tax hike on the self-employed. It was accused of breaking Conservative Party manifesto promises.

It was announced there will be a 2% increase in national insurance contributions for the self-employed, with chancellor Philip Hammond citing worries that people were choosing to become self-employed in order to pay lower taxes and his perception of unfairness in the different rates paid by employees and self-employees. There were accusations this change in policy goes against the manifesto promises the Conservative Party ran on in 2015, which promised four times that there would be no increase in national insurance rates. Conservative MP Anna Soubry tweeted saying she believed these new measures would be unpopular as many would see them as unfair. The leader of the opposition, Jeremy Corbyn, claimed the new measures will not clamp down on people whose self-employment is just for tax benefits, instead causing problems for those legitimately self-employed, arguing that if they are to start paying similar tax rates to the employed then they should get rights such as statutory maternity pay. The think tank Resolution claimed, however, this increase is outweighed by other government policies and is, therefore, a good move.

In addition to this, the chancellor announced a £2 billion pledge to social care over the next three years, saying he was aware of the stress the ageing population is having on the NHS and social care. Liberal Democrat Norman Lamb described the amount as “wholly inadequate”, saying much more is needed to pay for an increase in care demands due to the ageing population. The lowest threshold at which shareholders pay dividend taxes is to be lowered from £5,000 to £2,000 claiming that the taxes for dividends provided “an extremely generous tax break for investors with substantial share portfolios”. Other budget announcements include an additional £325 million for the NHS, £90 million transport spending for the North of England, £20 million to support campaigning against violence against girls and women and a slight increase in funding for the devolved governments.

Friday, July 17, 2009Following similar threats by workers at New Fabris and Nortel, workers at JLG in Tonneins, France, threatened to blow up several platform cranes. The JLG factory announced in April 2009 that it will fire 53 of its 163 workers by the end of 2009, while the remaining 110 jobs will not be secure over the next 2 years.

JLG Tonneins was acquired in 2006 with its parent JLG Industries, a maker of aerial work platforms, by the U.S.-based Oshkosh Corporation. Despite being hugely profitable in the past, production has been much reduced since 2008 with the contraction of the construction industry and lower demand for its products. Despite excellent past results the new American management demanded sweeping cuts at the company.

In the view of locals, “the company’s actions are a disgrace given the expensive perks, such as official cars, for its corporate fat cats, compared to the sacrifice, silence, and dignity demanded by the company of those it has made redundant.”

The management offered severance pay of € 3,000 (US $4,200), however the workers demanded a severance package commensurate with “the wealth that their labor has generated.” Worker’s delegates requested a “supra-legal” payment of € 30,000, on Thursday 16 of July the management responded with a counter offer of € 16,000. On Thursday night the worker’s actions secured the € 30,000 settlement initially demanded.