Markets dragged down by credit crisis

Friday, August 10, 2007

Global stock markets fell today, in a mass sell-off stemming from the sub-prime mortgage crisis in the United States. The Dow Jones Industrial Average rebounded late in the day after falling more than 250 points, ending the day down about 31 points. The UK’s FTSE-100 index fell 232.90 points to 6038.30, and Japan’s Nikkei 225 fell 406.51 points to 16764.09.

Central banks across the world are injecting funds into their banking systems to add liquidity, fearing that many financial firms with subprime ties will be insolvent. Yesterday, the U.S. Federal Reserve transferred US$24 billion to temporary reserves, following the European Central Bank, which authorized a record €83.6 billion addition to its banks, its biggest cash infusion ever. On Friday, the Fed entered into a $38 billion repurchase agreement of mortgage-backed securities, easing stockholder worries. Also on Friday, the Bank of Japan injected ¥1 trillion into Japan’s financial system.

The Federal Reserve met this week, but decided to maintain its target rate of 5.25%, although on Friday the federal funds rate was hovering around 6%, indicating a drop in liquidity.

The volatile week began last Friday with Bear Stearns tumbling as a result from its complete loss of two major hedge funds worth more than $1.5 billion. The hedge funds had been dangerously exposed to the massive sub-prime mortgage failure, and the company announced it was unable to return any money to investors.

Washington Mutual, and Countrywide Financial, both very large U.S. home loan lenders, saw shares fall. Countrywide Financial made a statement this week, saying they will be forced to retain a greater proportion of mortgage. American Home Mortgage Investment Corp, another large lender, recently filed for bankruptcy. The U.S. housing market has been declining for more than two years after the Federal Reserve raised interest rates 17 times. Now, lenders are in a quagmire from millions of people who are unable to repay loans after taking adjustable rate mortgages, teaser rates, interest-only mortgages, or piggyback rates.

Jim Cramer, of CNBC’s Mad Money, remarked that as many as seven million people will lose their homes from bad mortgages. Last Friday, Cramer went on a tirade on CNBC’s Street Signs, saying that the “Fed was asleep” and called for them to lower rates immediately.

Asian and European markets have become increasingly entangled in the subprime mortgage crisis in the U.S. Deutsche Bank of Germany lost almost $3.5 billion in share value, forcing the government to organize a bail-out. France’s largest bank, BNP Paribas SA, halted withdrawals from three large investment funds which were crippled by sub-prime exposure.

Ontario Votes 2007: Interview with Green Party candidate Torbjorn Zetterlund, Willowdale

Saturday, October 6, 2007

Torbjorn Zetterlund is running for the Green Party of Ontario in the Ontario provincial election, in the Willowdale riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Prevent Receding Gums With Better Oral Hygiene

Submitted by: A Noton

Many people have problems with receding gums. This condition can be very painful and can alter the appearance of person. Most people refrain from smiling a lot when they are affected by this condition. This problem can come from so many different types of things. But usually the main reason from having poor dental hygiene. This type of disease can cause the tooth sensitivity. Many people may notice when they brush their teeth that the affected area will bleed.

This can lead to a lot of life time dental problems. This condition needs to be addressed with a dentist as soon as possible. Many times people can have gingivitis and even periodontal disease and not even know it. These diseases can later lead to the lost of the teeth.

Those with gum recession may notice they have pink and swollen areas around the teeth. If left for a long period of time without care pockets of pus can form and individuals can experience a lot of tooth pain. The pus can expose the mouth and the rest of the body to bacteria. Your mouth and body can then become infected and can cause serious harm to you. It is important to not leave this untreated.

[youtube]http://www.youtube.com/watch?v=jTCzxWt1RQk[/youtube]

This condition is very noticeable and easy to diagnose. You can clearly see the gums moving past the teeth and giving the appearance of being irritated. Many people complain that their teeth are painful to the touch and they have to avoid certain drinks and foods that they once loved. This can be very depressing to individuals with this problem.

There are some things you can do at home to help with the pain you may be experiencing because of this problem. Avoid using hard bristle tooth brushes and switch to the soft bristle. Do not brush too hard, this will definitely cause the infected area to become irritated more.

Invest in purchasing an electric toothbrush and allow the brush to do all the work. The best way to avoid having to infected gums is by preventing them in the first place. It is important to brush at least two times a day, and floss. Flossing helps get the food particles that are trapped between your teeth. That food can cause irritation and mouth problems.

Once the gums have receded there is no way to help them grow back. You can only help prevent further damage from being done. It is important to implement an everyday mouth and dental hygiene regimen. You also want to use a mouth rinse that will help eliminate some of the bacteria in your mouth. It is common to have bacteria in the mouth.

It is important to use the right types of products when treating your condition. It may be best to consult with your oral care provider to find out the best products to use. This is especially important for those who are experiencing teeth sensitivity. Some products can cause them to become more sensitive. So, you want to choose the best products possible.

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Israel announces 10 month halt to settlement construction in West Bank

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.

Knife-wielding woman arrested after allegedly stabbing four at store in West Hollywood, California

Wednesday, May 5, 2010

Layla Trawick, 34, was arrested by police for allegedly stabbing four people with two knives at a Target store in West Hollywood, California.

Paramedics arrived at the scene at 12:48 pm local time on Monday. They took one critically injured person to a local hospital and another with minor injuries. The other two did not require hospitalization and were treated on-the-spot.

An armed, off-duty police officer, Clay Grant, Jr., was able to use his service weapon to stop the accused. Captain Michael Parker praised Grant for his efforts to stop the suspect.

A shopper at the store and journalist, Allison McNamara, reported she witnessed Trawick stab the victims. McNamara said, “You could see where the knife was going into his back. The knife had ridges and a tag on it. She was going as fast and strong as she could… She looked like she was going to stab everyone there.”

Trawick is being held on US$1 million bail.

Firefighters rescue nearly a dozen animals in Buffalo, New York house fire

Friday, June 22, 2007

Buffalo, New York —A three alarm fire at a house owned by John and Evelyn Bencinich, two of the initiators of a lawsuit filed against the Elmwood Village Hotel proposal in Buffalo, required firefighters to rescue eight cats and two dogs in Buffalo, New York today.

At about 8:30 (eastern time) firefighters were called to the home on 48 Granger Place to put out a fire that had started in the basement. It quickly spread to the first floor where the main bathroom was destroyed. The fire did not spread to the second floor or attic.

Initial calls said that many animals were inside the house and firefighters quickly worked to rescue all the cats and dogs. At least one cat and one dog had to receive CPR and oxygen, but both are reported to be in stable condition. At least 3 cats are unaccounted for, but after a search of the house, the cats were not believed to have been inside at the time the fire started.

One elderly woman, Anna Bencinich, the mother of Evelyn, was rescued by neighbors who helped her from the burning house.

“There was smoke all over the house. The fire started in the basement and spread to a small portion of the first floor. Two firefighters were injured while fighting the fire and were transported to Erie County Medical Center,” said Division Fire Chief Thomas Ashe who also said that sections of the kitchen wall at the back of the house had to be torn out to stop the fire from spreading through the walls.

One firefighter is being treated for bite injuries to his face that he received while attempting to rescue a dog. The other firefighter was treated for injuries he received to his hand, which was believed to have been caused by glass or a cat scratching him. The names of the injured firefighters are not known. The injuries are said to not be life threatening.

According to witness reports, the home owners had a new water heater installed just last week, but it is not known if the fire was caused by the heater.

“We believe the fire was caused by an electrical (malfunction). An investigation is being conducted,” said Battalion Chief Joe Fahey who also added that they did not believe arson was the cause.

Congressman Cunningham admits taking bribes

Monday, November 28, 2005

U.S. Representative Randy “Duke” Cunningham (RCA) pled guilty today to conspiring to take bribes in exchange for using his influence as a member of the House Appropriations Committee to help a defense contractor get business. In total he pled guilty to one count of income tax evasion and four counts of conspiracy, namely mail fraud, wire fraud, bribery of public official and accepting bribes. U.S. District judge Larry A. Burns scheduled Cunnigham to be sentenced on February 27. He is facing up to 10 years in prison and nearly $500,000 in fines, as well as forfeiture of unspecified amounts of cash and property.

In the court hearing, Cunningham admitted to accepting “bribes in exchange for performance of official duties” between “the year 2000 and June of 2005”, taking “both cash payments and payments in kind” and following up by “trying to influence the Defense Department”.

The federal investigation against Cunningham was triggered by his sale of his California residence to defense contractor Mitchell Wade in late 2003. However, Wade never moved in and sold the house at a $700,000 loss three quarters of a year later. At the same time Wade’s company MZM won tens of millions of dollars in defense contracts. Subsequent investigations discovered more questionable business transactions, including interactions with the defense contractor ADCS. In his plea agreement he testified that, among other charges, he “demanded, sought and received at least $2.4 million in illicit payments and benefits from his co-conspirators in various forms, including cash, checks, meals, travel, lodging, furnishings, antiques, rugs, yacht club fees, boat repairs and improvements, moving expenses, cars and boats.”

Cunningham announced his resignation after the hearing. In a written statement released by his law firm O’Melveny & Myers LLP he declared “The truth is — I broke the law, concealed my conduct, and disgraced my high office. I know that I will forfeit my freedom, my reputation, my worldly possessions, and most importantly, the trust of my friends and family.”

Prince William marries Kate Middleton—live updates

News briefs:June 2, 2006

The time is 18:00 (UTC) on June 2nd, 2006, and this is Audio Wikinews News Briefs.

Contents

  • 1 Headlines
    • 1.1 Consensus reached on incentive package for Iran
    • 1.2 Two Iraqi women, one pregnant, killed by US soldiers
    • 1.3 90 days of hard labor for Abu Ghraib dog handler
    • 1.4 World conference of expatriate Greeks to take place in Athens
    • 1.5 Federal and NSW governments withdraw Snowy Hydro shares
    • 1.6 “Metric tonne” of date rape drug was bound for US
    • 1.7 US accused of sinking The Pirate Bay
    • 1.8 New Zealand’s Taupo Airport worst in the world
    • 1.9 Katharine Close, 13, wins Scripps National Spelling Bee
  • 2 Closing statements

Interview with Dalbir S. Kathuria, Regional Council candidate for Wards 9 & 10 in Brampton, Canada

Thursday, October 19, 2006

The upcoming 2006 Brampton municipal election, to be held November 13, features an array of candidates looking to represent their wards in city council or the council of the Peel Region.

Wikinews contributor Nick Moreau contacted many of the candidates, including Dalbir S. Kathuria, asking them to answer common questions sent in an email. This ward’s incumbent is John Sprovieri; also challenging Sprovieri is Derek Begley, Sherdaljit Dhillon, Mahen Gupta, Satpaul Johal, and Vahid Saadati-Khanshir.