Author: Admin

Monday, September 29, 2008

The US House of Representatives rejected a bill on the USD 700 billion bail out of US banks. The voting on the bill has completed.

If passed, the bailout plan would have allowed for the United States government to purchase devalued mortgage backed securities, resulting from the subprime mortgage crisis from troubled financial institutions. The US Treasury Secretary Henry Paulson has said that the plan could cost up to $700 billion.

There has been considerable debate over several parts of the plan, which failed with 228 votes opposing, 205 supporting, and 1 not voting. The bill had much more support by the Democratic Party (with 60% of Democrats voting “aye”) than the Republican Party (of which only 33% voted for the bill).

George W. Bush described the bill before the vote was made. “This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time. I appreciate the leadership of members on both sides of the aisle, who came together when our nation was counting on them. Negotiations are sometimes difficult, but their hard work and cooperation paid off,” he said, in a speech in which Bush begged politicians to support the bill.

Bush continued describing the bill. “The bipartisan economic rescue plan addresses the root cause of the financial crisis — the assets related to home mortgages that have lost value during the housing decline. Under the Emergency Economic Stabilization Act, the federal government will be authorized to purchase these assets from banks and other financial institutions, which will help free them to resume lending to businesses and consumers.”

According to BBC News, congressmen opposed the bill after receiving 50 times as many letters against the bill as for the bill. George Bush attempted to respond to the criticisms of the bill by US citizens. “I know many Americans are worried about the cost of the bill, and I understand their concern. This bill commits up to 700 billion taxpayer dollars, because a large amount of money is necessary to have an impact on our financial system. However, both the non-partisan Congressional Budget Office and the Office of Management and Budget expect that the ultimate cost to the taxpayer will be far less than that”.

Wednesday, July 27, 2005

There was a bomb alert in Oxford Circus in central London at 1.20pm BST (1220 UTC) today. All streets around Oxford Circus were briefly cordoned off and pedestrians asked to move down side streets.

A similar event occurred that same day at approximately 4.15pm BST (1315 UTC) on Wilton Road, when an unoccupied car was spotted on double yellow lines outside a pub near Victoria Station.

Friday, September 14, 2007

The Kennedy Center announced that its 30th presentation of the Kennedy Center Honors would go to pianist Leon Fleisher, comedian Steve Martin, singer Diana Ross, director Martin Scorsese and musician Brian Wilson. The Center was opened to the public in 1971 and was envisioned as part of the National Cultural Center Act, which mandated that the independent, privately-funded institution would present a wide variety of both classical and contemporary performances, commission the creation of new artistic works, and undertake a variety of educational missions to increase awareness of the arts.

In a statement, Kennedy Center Chairman Stephen A. Schwarzman said that “with their extraordinary talent, creativity and perseverance, the five 2007 honorees have transformed the way we, as Americans, see, hear and feel the performing arts.”

Fleisher, 79, a member of the Peabody Institute‘s music faculty, is a pianist who lost use of his right hand in 1965 due to a neurological condition. He became an accomplished musician and conductor through the use of his left hand. At 67, he regained the use of his right hand. With the advent of Botox therapy, he was once more able to undertake two-hand performances in 2004, his first in four decades. “I’m very gratified by the fact that it’s an apolitical honor,” Fleisher said. “It is given by colleagues and professional people who are aware of what [an artist] has done, so it really is apolitical — and that much more of an honor.”

Martin, 62, a comedian who has written books and essays in addition to his acting and stand-up comedy career, rose to fame during his work on the American television program Saturday Night Live in the 1970’s. Schwarzman praised his work as that of a “renaissance comic whose talents wipe out the boundaries between artistic disciplines.” Martin responded to the honor saying, “I am grateful to the Kennedy Center for finally alleviating in me years of covetousness and trophy envy.”

Ross, 63, was a product of Detroit‘s Brewster-Douglass Projects when as a teeager she and friends Mary Wilson and Florence Ballardis formed The Supremes, a ground-breaking Motown act. She portrayed singer Billie Holiday in the 1972 film Lady Sings the Blues, which earned her an Oscar nomination and a Golden Globe award. “Diana Ross’ singular, instantly recognizable voice has spread romance and joy throughout the world,” said Schwarzman. Ross said she was “taken aback. It is a huge, huge honor and I am excited to be in this class of people.”

Scorsese, 64, is one of the most accomplished directors the United States ever produced, whose work includes Mean Streets, Taxi Driver, GoodFellas, Cape Fear, The Last Temptation of Christ and The Departed, for which he won a 2006 Academy Award for Best Director after being nominated eight times. Scorsese said, “I’m very honored to be receiving this recognition from the Kennedy Center and proud to be joining the company of the very distinguished individuals who have received this honor in years past.”

Wilson, 65, along with his brothers Dennis and Carl, formed the Beach Boys in 1961. They had a series of hits that included “Surfin’ U.S.A.” and “Wouldn’t It Be Nice.” Their 1966 album Pet Sounds is considered one of the most influential recordings in American music. “This is something so unexpected and I feel extremely fortunate to be in the company of such great artists,” said Wilson, who is currently on tour.

The Kennedy Center’s board of trustees is responsible for selecting honorees for “lifetime contributions to American culture through the performing arts.” Previous honorees, including Elton John and Steven Spielberg, also submitted recommendations. A wide variety of people were under consideration, including Emanuel Ax, Evgeny Kissin, Renee Fleming, Laurence Fishburne, Francis Ford Coppola, Melissa Etheridge and Kenny Chesney.

President Bush and first lady Laura Bush will attend the center’s presentation at its opera house on December 2, 2007, which will broadcast on December 26 on CBS.

Monday, October 9, 2006

Jamie Lee Curtis, 47, has stated that she will end her acting career, but said that she will continue writing.

“I’m not an actor anymore,” she told Access Hollywood host Nancy O’Dell. “I really don’t imagine I’ll do that again.” She later said in the conversation, “I’m just focused on my family and just can’t imagine anything that’s going to pull me away from them right now.”

Curtis appeared on the Access Hollywood show to promote her newest children’s book, Is There a Human Race?. The interview she participated in with O’Dell will appear on the show’s weekend episode.

The picture book writer had this to say about ending her acting career, “No. I don’t want to be somebody else anymore.”

The last film Curtis starred in was the 2005 film The Kid & I.

Monday, October 20, 2008

In an interview with Público, a Spanish newspaper, the prime minister of Spain, Jose Luis Rodriguez Zapatero, has stated that ” if there is a global recession, it seems logical to expect that Spain will enter the recession in 2009 .”

In the interview Zapatero also described the worldwide economic situation as “difficult.” He recognized that ” the developed countries are or are going to experience negative growth, and developing countries are also going to see falling growth; resulting in a worldwide loss of jobs.”

Regarding the global financial situation, Zapatero continued by saying that “the financial system is a part of the economy, a crucial part. We have a year-long financial crisis, which has had its most acute moment in the past two months, and I think now the financial markets are beginning to recover.”

Asked about whether it would be desirable to another plan to help those overwhelmed by the size of their mortgage, Zapatero reiterated the falls in the Euro Interbank Offered Rate .

Zapatero then claimed that the average Spanish citizen would see their mortgage decrease by €28 a month (€330 per year) as result of the recent drops in interest rate, lead by seven central banks, including the European Central Bank which covers Spain, dropped their interest rate by 0.5%.

The prime minister then said that he was pleased with the role of Spain in the recent summits discussing the financial crisis, before adding that he believes the European Union will lead the way in solving the current issues in the markets.

Monday, June 9, 2008

A policeman from the United Kingdom was killed today while taking part in a training exercise with his police force, in the city of Manchester.

The policeman died as a result of a shot to the chest. The incident occurred at approximately 10:30 UTC (11:30 local time) this morning.

Greater Manchester Police released a statement regarding the incident, saying that the officer was shot at Thorpe Road, which is found in the Newton Heath area of the city.

Sunday, August 17, 2008

“Georgia will become a NATO member if it wants to, and it does want to,” German Chancellor Angela Merkel said in an apparent change in Germany’s position during her Sunday visit to Tbilisi, Georgia.Merkel’s statement of support for Georgia’s NATO membership was one of the strongest yet.Tbilisi’s bid to join NATO is fiercely opposed by Moscow.

During her meeting with Georgian President Mikheil Saakashvili, Merkel stated that Georgia’s territorial integrity and its independence have to be respected. After the meeting Merkel said she expected a ‘very prompt’ withdrawal of Russian forces from Georgia.

In a telephone conversation with French president Nicolas Sarkozy on Sunday, Russian president Dmitry Medvedev declared that Russian troops would start their pullout from Georgia on Monday. Medvedev explained that Russian troops would be withdrawing to a buffer zone and then to the breakaway province of South Ossetia. It remains unclear how long the withdrawal will take. Sarkozy warned Medvedev on Sunday of serious consequences and damage to the Russian relations with the EU, if Russia failed to fully implement the peace plan it signed. Earlier this week, Britain’s Foreign Secretary David Miliband stated that the EU should reassess its relations with Russia after its aggressive actions in Georgia.

A Russian lawmaker has compared the situation in Georgia to Iraq and the U.S. presence there. Konstantin Kosachev, chair of the Russian parliament’s security committee told reporters when asked about the withdrawal plan: “If I would ask you in response to the same question how fast the American forces can leave Iraq, for example, the answer would be as soon as we have guarantees for peace and security there.”

At the same time, according to Georgian sources, the Russian troops were occupying 13 Georgian villages, pushing the border of Abkhazia into Georgia proper. Russia’s Defence Ministry spokesman denied the report, saying that “Russian peacekeepers have been given no orders to move to these populated areas,”. There have also been reports of Russian helicopters setting fire to Georgian National Park near Borzhomi. The Russian Defence Ministry’s spokesman expressed his surprise and declared that Russian troops were ready to provide assistance in extinguishing the fire if Georgia made an official request. “It is understandable to us that the Georgian authorities are ready to blame the Russian side for any natural disasters on the territory of Georgia,” he said.

Russian troops are still occupying the key towns of Gori, north of Tbilisi, and Senako in the west of Georgia. Far from pulling out, Russian military units are entrenching themselves in new positions deeper into Georgia, according to Daily Telegraph. They have also blown up a strategic Georgian Kaspi railway bridge on the main line connecting the country to its neighbours, essentially severing the last route for freight and trade after Russian soldiers also took control of the Georgian main east-west highway.