Monday, October 13, 2008

Markets worldwide have surged in value following efforts by governments to ease the effect of the ongoing financial crisis, which has recently caused a massive decline in the value of stock markets.

On Sunday, the fifteen countries from the Eurogroup – that is, those countries which use the euro as official currency – had agreed on a joint plan to face the crisis, which would consist in supporting financial institutions and by guaranteeing interbank loans.

The Eurogroup meeting was the last of many which took place during the weekend. The G7 nations had met in Washington at the same time that the International Monetary Fund and the World Bank held their Autumn meetings.

The Dow Jones Industrial Average index is one of the indexes that have done particularly well today, and it closed up 11.08%, well over 9,000 points. General Motors was the best performer in this index, with its value rising by 31.49%. The Nasdaq rose by 11.81%.

The FTSE 100 has today gone up in value by 8,26%, to take the index back over the four thousand mark. TUI Travel was the best performing company in this index. It went up by 41.25 points (21.48%), to take it to a new share price of 233.25. Some shares in the FTSE, however, have continued to fall dramatically. HBOS today dropped in value by 31.48%.

The Brazilian Bovespa index today went up by 14,66%, while the Hang Seng and Singapore Straits Times went up by 10.24% and 6.57% respectively.

Stocks exchanges in Tokyo, Buenos Aires and Toronto were closed due to national holidays.

Sunday, June 20, 2010

A 6-year-old boy and his father were shot and killed Saturday afternoon while eating inside a busy Del Taco fast food restaurant in San Bernadino, California, before the shooter turned a gun on himself.

According to the San Bernadino Police Department, 56-year-old Jimmy Schlager arrived at the Del Taco at 1:15pm PST (2015 UTC) on a bicycle, and, armed with two semi-automatic guns, entered the restaurant and opened fire on a family of four who were dining together. The employees and other customers all ran out of the restaurant and escaped without injury.

The father of the family, identified as 33-year-old Alex Trujillo, was declared dead at the scene, said the San Bernadino Fire Department. His wife and two sons were taken to Loma Linda University Medical Center in critical condition. His 6-year-old son, Adrian, died shortly after. The victims each suffered two bullet wounds, except the mother, who police say received up to ten gunshots. The names of the 29-year-old woman and her 5-year-old son have not been released. Both remained in critical condition on Saturday night.

After shooting the family, Schlager, later identified as the woman’s step-father, shot himself in the head. He was taken to Arrowhead Regional Medical Center, where he later died from the self-inflicted gunshot wound to the head. Police said Schlager had previously been arrested a number of times, on charges that included theft and assault with a deadly weapon.

Monday, November 16, 2009

The White House has announced that it is considering sending Guantanamo Bay detainees to a state prison in northwestern Illinois.

Governor Pat Quinn and President Barack Obama discussed a federal purchase of the Thomson Correctional Center in Thomson during Quinn’s visit to Washington on November 4. The purchase would bring a desperately needed $200 million to the state government. Senator Dick Durbin said in a statement last Saturday that the purchase would also bring fewer than 100 Guantanamo detainees to the prison and create 3,000 new jobs in the local economy.

Republican opposition has already begun. Representative Mark Kirk warned in a letter to the President, “As home to America’s tallest building, we should not invite Al Qaeda to make Illinois its number one target.” Representative Don Manzullo, whose district includes Thomson, has stated that he is “fighting efforts to bring these terrorists onto our shores … where they could one day be released into our communities.”

Built in 2001, the Thomson prison is the newest maximum-security prison in Illinois. However, it currently does not hold any maximum-security inmates but has 200 minimum-security inmates.

Monday, December 3, 2018

On Friday, German police investigators continued their previous day’s search of the headquarters of Deutsche Bank in Frankfurt, Germany, for evidence of money laundering and other wrongdoing in connection to the group of leaked financial documents called the Panama Papers. A police spokesperson explained the roughly 170 searchers, including officers, prosecutors and tax experts, encountered such a volume of material the matter could not be concluded in one day.

The allegations are that, from 2013 onward, two employees of Deutche Bank helped clients to avoid taxes and other regulations by creating offshore companies. Bank officials announced Thursday they were cooperating with authorities but made no further comment.

The stock value of Deutsche Bank dropped roughly by half over the course of 2018. Last year, the governments of the United States and United Kingdom fined Deutsche Bank US$630 million for laundering money from Russia through its offices in Moscow and London. This fall, BaFIN, a German regulator, sent a special representative to order Detusche Bank to improve its anti-money-laundering practices and see that it did.

“Panama Papers” is an umbrella term for roughly ten million documents from Panamanian law firm Mossack Fonseca, leaked to the press in spring 2016. The documents showed fourteen banks helped wealthy clients hide billions of US dollars of wealth to avoid taxes and other regulations. British newspaper The Guardian suggested Deutsche Bank controlled roughly a third of the 1200 shell companies used to accomplish this. There were protests worldwide, several criminal prosecutions, and the leaders of the governments of Iceland and Pakistan both resigned.

Ava Lee of anti-corruption organization Global Witness said, “Almost three years on, and law enforcement are still relying on the Panama Papers for their work. It shows how investigative journalism has been at the forefront of opening the door on a morass of morally dubious — and sometimes illegal — activity by banks[.]”

Daphne Caruana Galizia, a Maltese journalist who played a prominent role in investigation based on the Panama Papers, was killed in a car bombing last year.

Saturday, October 27, 2007

Gay Talese wants to go to Iraq. “It so happens there is someone that’s working on such a thing right now for me,” the 75-year-old legendary journalist and author told David Shankbone. “Even if I was on Al-Jazeera with a gun to my head, I wouldn’t be pleading with those bastards! I’d say, ‘Go ahead. Make my day.'”

Few reporters will ever reach the stature of Talese. His 1966 profile of Frank Sinatra, Frank Sinatra Has a Cold, was not only cited by The Economist as the greatest profile of Sinatra ever written, but is considered the greatest of any celebrity profile ever written. In the 70th anniversary issue of Esquire in October 2003, the editors declared the piece the “Best Story Esquire Ever Published.”

Talese helped create and define a new style of literary reporting called New Journalism. Talese himself told National Public Radio he rejects this label (“The term new journalism became very fashionable on college campuses in the 1970s and some of its practitioners tended to be a little loose with the facts. And that’s where I wanted to part company.”)

He is not bothered by the Bancrofts selling The Wall Street Journal—”It’s not like we should lament the passing of some noble dynasty!”—to Rupert Murdoch, but he is bothered by how the press supported and sold the Iraq War to the American people. “The press in Washington got us into this war as much as the people that are controlling it,” said Talese. “They took information that was second-hand information, and they went along with it.” He wants to see the Washington press corp disbanded and sent around the country to get back in touch with the people it covers; that the press should not be so focused on–and in bed with–the federal government.

Augusten Burroughs once said that writers are experience junkies, and Talese fits the bill. Talese–who has been married to Nan Talese (she edited James Frey‘s Million Little Piece) for fifty years–can be found at baseball games in Cuba or the gay bars of Beijing, wanting to see humanity in all its experience.

Below is Wikinews reporter David Shankbone’s interview with Gay Talese.

Thursday, May 28, 2009

The United States automobile manufacturing firm General Motors announced on Wednesday that most of its bondholders did not exchange GM’s US$27 billion debt for a ten percent share in the company’s stock.

The automaker, in financial straits, has a June 1 deadline to finish a government restructuring plan that includes plant closures and other debt reduction measures. U.S. President Barack Obama’s administration said it would not give more financial aid to the firm unless 90% of GM’s bondholders would agree on compromises that would significantly reduce the firm’s costs.

“The principal amount of notes tendered was substantially less than the amount required by GM to satisfy the debt reduction requirement,” GM said in a statement.

“They said no. That’s it. They tried. That’s why they’re going to have to file for bankruptcy,” said a university professor from the University of Michigan who specializes in bankruptcy.

Wednesday, December 31, 2008

What would you tell your grandchildren about 2008 if they asked you about it in, let’s say, 20 years’ time? If the answer to a quiz question was 2008, what would the question be? The year that markets collapsed, or perhaps the year that Obama became US president? Or the year Heath Ledger died?

Let’s take a look at some of the important stories of 2008. Links to the original Wikinews articles are in all the titles.

A compilation of brief news reports for Saturday, August 8, 2009.