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Friday, April 3, 2009

The G20 Summit held in London, England concluded Thursday with an injection into the economy of US$5 trillion by the end of 2010.

Global trade would be supported by $250 billion (169.5 billion pounds). “We are going to act decisively to kickstart international trade. We will ensure availability of at least $250 billion over the next two years,” said Gordon Brown Prime Minister of the United Kingdom.

The International Monetary Fund IMF will have access to $750bn in resources of which $250bn will support special drawing rights.

Developing countries received $100bn which will be dispensed via Multilateral development banks. Towards this end, the IMF will sell off gold reserves.

China will support the IMF fund by $40bn, the European Union by $100bn, and Japan by $100bn.

There will be increased regulation on banking and credit ratings agencies. There was a commitment to clamp down on hedge funds, tax havens and toxic assets. To restore consumer confidence in the financial sector, a new Financial Stability Board will be initiated internationally. There would be new policies implemented to control pay and bonuses paid to the heads of banks and corporations.

The G20 leaders were adverse to protectionism and rallied to support international trade and investment.

The Leaders’ statement said, “We reaffirm the commitment made in Washington: to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports.”

Eoin O’Malley, senior adviser on international trade at BusinessEurope, said “The measure also needs to be part of wider package to avoid protectionism and conclude the Doha round which will stimulate trade growth. The key point now is to move forward with Doha. The key now is implementation. G20 governments must act quickly to provide this finance to companies that need it urgently.”

Thursday, August 31, 2006

A Russian-made aircraft carrying sophisticated arms and ammunition to Nepal has been detained in Ahmedabad. The Jana Astha reported that the plane’s cargo, which was comprised of rifles, ammunition and anti-aircraft guns, was probably made in Israel. The lack of documents regarding the cargo made Indian authorities suspicious, prompting them to order the aeroplane to land after it entered Indian airspace. The plane, headed for Kathmandu has been on the tarmac at the Sardar Patel International Airport for six days now.

According to reports, the consignment is part of a deal struck between Nepal and the manufacturer of the arms, at a time when both India (the largest supplier of arms to Nepal) and the U.S have suspended military dealings with the King to show their displeasure at his attempts to suppress democracy in his country. India has contacted the Nepalese embassy in New Delhi about this matter

India has long been supplying military equipment to its Himalayan neighbour, that too at a 70% subsidy. Many Nepalese governments however, failed to make payments, thereby resulting in a credit amount of several million rupees. India waived the dues as a goodwill gesture when Nepal’s PM Girija Prasad Koirala visited New Delhi this June.

Tuesday, June 8, 2010

Yesterday, at this year’s Apple Worldwide Developers Conference (WWDC), company CEO Steve Jobs unveiled iPhone 4, along with the new iOS 4 operating system for Apple mobile devices.

The announcement was long-awaited but not a very big surprise. In April, the technology blog Gizmodo obtained a prototype of the new phone and published details of it online. While introducing iPhone 4, at the annual conference, Jobs started by hinting at the incident, saying, “Stop me if you’ve already seen this.”

The new iPhone was praised by Jobs as “the biggest leap we’ve taken since the original iPhone.” It is only 9.3 millimetres (0.37 inches) thick, making it “the thinnest smartphone on the planet”, a 24 percent reduction from Apple’s previous model, the iPhone 3GS. Structure-wise, iPhone 4 has a new stainless steel frame, which acts as an antenna, supposedly boosting its signal reception abilities and possibly reducing the amount of dropped calls. It also has a new screen, dubbed a “retina display,” which displays images at 326 pixels per inch. During the keynote, Jobs demoed the device’s new internal gyroscope as well. Even though it now uses Apple’s faster A4 processor (first used in its iPad tablet), iPhone 4 has a claimed seven hours of 3G talk time, up two hours from the 3GS.

In addition to its design features, Jobs showed off iPhone 4’s new video calling abilities. This feature is called FaceTime, and connects with other iPhone 4s via Wi-Fi. The phone has two cameras: one on the front for video chats, and one on the back for taking pictures and other videos. The rear camera has a resolution of five megapixels, is capable of recording high-definition video, and has an LED flash.

The iPhone 4 will use Apple’s latest mobile operating system, iOS 4. Formerly “iPhone OS,” iOS 4 was first introduced by Apple in April, and includes multitasking capabilities. Jobs called the new software “the most advanced mobile operating system in the world.” iOS will support Apple’s new mobile advertising service, iAd, which goes live on July 1.

iPhone 4 will be available on June 24 in the United States, United Kingdom, France, Germany, and Japan. It comes in two colors—black and white—and two storage capacities. The 16GB version is priced at US$199 and the 32GB version at US$299. The iPhone 3GS’s price will be reduced to US$99, and the iPhone 3G will be discontinued. iOS will be available as a free software update to users of compatible older Apple devices (including the 3GS) on June 21. In the U.S., iPhone 4 will only be available on AT&T’s cellular network, despite calls for Apple to let the iPhone be used on other carriers, such as Verizon.

Competition-wise, the BlackBerry mobile device is still the most popular smartphone right now. Apple is also facing some serious competition from web giant Google’s Android operating system, as well as Palm’s webOS. Earlier this year, Android phones managed to outsell iPhones. iPhone users, however, account for over half of those surfing the Internet on a mobile browser in the U.S. Jobs also noted that over five billion iOS applications, commonly called “apps,” have been purchased from Apple’s App Store. The App Store currently has around 225,000 different apps for sale.

Tuesday, February 26, 2008

Neverland Valley Ranch, owned by Michael Jackson, is to be sold at auction on March 19, 2008, unless Jackson pays over US$24 million.

Financial Title Company, the trustee of his Santa Barbara County, California, home and amusement park, has foreclosed on the property. They notified Jackson of the foreclosure and sale on Monday. Jackson had only just recently paid an overdue property tax bill of $600,000.

The court filing, addressed to Jackson, says, “You are in default of a deed of trust … Unless you take action to protect your property it may be sold at a public sale.” Fox News published the filing.

The foreclosure includes the ranch and all possessions on the property, inside or out.

The foreclosure auction will take place in front of the Santa Barbara County Courthouse in Santa Barbara. Jackson has until then to pay $24,525,906.61 he owes the title company.

In 2006, Jackson refinanced previous loans that had been bought up by Fortress Investment Group. The $300-million loan was secured with the aid of Sony Music Entertainment. However, the Neverland property was not part of that deal.

Jackson has not lived at Neverland since June 30, 2005, when he moved to Bahrain after a rape charge and subsequent acquittal.

Friday, August 27, 2010

Apple Inc. will hold a music-centered event in San Francisco, California on September 1. It has been widely speculated that the company will introduce an updated line of iPod portable music players and a new Apple TV.

The company e-mailed invitations for the event to various media organizations on Wednesday. The message included a picture of a guitar and the time of the event. Apple did not release any information about what products would be involved.

Apple has released new iPods through previous similar events in September in anticipation of the holiday shopping season. This year, Apple may unveil a new iPod Touch with two cameras, similar to their recent iPhone 4 design. It will likely also update the iTunes music store and software.

Speculation about a new Apple TV is mixed. While many blogs are reporting that a refresh of the device will be announced, analysts say that it is unlikely to happen during next Wednesday’s event. According to Reuters, sources are saying that Apple is negotiating with major television networks, including ABC and NBC, in order to provide shows for purchase on iTunes. However, they also reported that the deal has not been completed, and none of the companies involved have commented on the rumors.

It has also been rumored that Apple will introduce a new online music service. In 2009, Apple took over a company that allowed users to stream music online rather than download individual songs. Apple has not confirmed the rumors.

Last September’s media event saw the return of Apple CEO Steve Jobs after he took a break to undergo a liver transplant. This year, the event will be held in San Francisco’s Yerba Buena Center for the Arts, previously used by Apple in April for the unveiling of the iPad.

Thursday, November 5, 2009

Lord Terence Burns has been confirmed as the new chairman of British television channel Channel 4.

Burns, who was the Permanent Secretary to the Treasury from 1991 to 1998, will take the position on January 24, 2010. He will replace the former chairman, Luke Johnson, who is now retiring. Luke was chairman of Channel 4 since early 2004.

Lord Burns will also immediately take the position to try and find a new chief executive alongside Luke Johnson, after it was announced that the current chief executive Andy Duncan was to retire after being in the position for five years. Speaking about joining the corporation for the channel, Burns said: “I am delighted to be joining Channel 4. This is a time of great change as we experience the impact of the rapid development of digital technology in the communications sector and Channel 4 has a very special and continuing role to play.”

Colette Bowe is the current chairman of Office of Communications, or Ofcom, an independent regulator and competition authority for the communication industries in the United Kingdom. Speaking about this announcement, Bowe said: “He [Lord Burns] has an outstanding record of public service and a real depth of commercial expertise. He will provide strong leadership at a time of considerable change in the broadcasting world. I would also like to pay tribute to Luke Johnson’s tremendous contribution to Channel 4 in a period during which it has enjoyed considerable success.”

Saturday, August 13, 2011

British Prime Minister David Cameron has stated that a change in police strategy is appropriate following what many feel to be an inadequate response to the rioting that has overrun many cities across England. Riots started in Tottenham on Saturday night after the fatal shooting by police of Mark Duggan, a 29-year-old taxi driver who the Independent Police Complaints Commission state was in possession of a handgun, but did not fire it.

During the Parliamentary debate on the riots, David Milliband, the Labour leader, called on Cameron to reconsider cuts to police budgets. Chancellor of the Exchequer George Osborne described the communities where the rioting occurred as being “left behind” and “cut-off from the economic life-blood of the rest of the country”, and called for solutions to the “deep-seated social problems”

One avenue the Prime Minister is said to be considering is changing regulations on social media services like Twitter, Facebook and BlackBerry Messenger, the latter being used to communicate between groups of rioters. The Open Rights Group and Big Brother Watch came out in opposition to any plans to restrict communication using social media, with Jim Killock of the Open Rights Group warning that such regulation would be abused by the police and private companies.

In Southampton, England, three people were arrested by police for the suspicion of using Twitter or BlackBerry Messenger to encourage the rioting. The government is “working with the police, the intelligence services and industry to look at whether it would be right to stop people communicating via these Web sites and services when we know they are plotting violence, disorder and criminality,” said Cameron.

The Prime Minister also announced that he would consider using the army to support the police in controlling future rioting, and also that he would consult with William J. Bratton, CBE, who had been the chief of police in Los Angeles and a police commissioner in New York City and Boston. Bratton is quoted as saying that arrests are not the only way to solve societal problems which lead to rioting and unrest: “You can’t arrest your way out of the problem.”