Thursday, December 31, 2009

The Icelandic Prime Minister Jóhanna Sigurðardóttir and her coalition government narrowly escaped a commitment to resign as a €3.8 billion bill to repay British and Dutch savers following the collapse of Icesave online banking passed. The vote margin was only three votes.

Only a matter of hours before the anticipated final vote, Wikileaks announced the disclosure of one of 23 documents suppressed by the Icelandic Minister of Finance: an apparent legal summary of meetings between Icelandic and EU representatives held in Brussels in November 2008. The leaked document discusses the then-assessed liabilities of Iceland at 60% of GDP, considerably higher than the reported 40% which repaying Icesave deposit holders entails.

Amongst the other details in the report is emphasis of the deep-seated anger of the Icelandic people at the situation around the financial collapse, particularly the UK’s use of anti-terrorism legislation in its approach to the country’s banks. Iceland’s interpretation of the situation, and its financial treaty obligations with the EU, considered foreign deposits lost through force majeure. All 27 EU members disagreed with Iceland’s interpretation and Peter Mandelson, although he resigned from the Barroso Commission in October, presented the legal position that Iceland could not pass legislation that did not ensure treaty-mandated minimum balance returns from failed Icelandic banks.

Leaked private communication from Ingibjörg Sólrún Gísladóttir, Iceland’s then-foreign minister, compared the potential liabilities the country faced with the reparations imposed on Germany by the Treaty of Versailles in the wake of World War I.

Three banks failed in the financial crisis: Kaupthing, Glitnir, and Landsbanki. As the list of creditors emerged it was found that, among others, UK councils had around £900 million with the banks. Landsbanki agreed to repay the majority of funds held, giving council depositors priority status. Approximately £200 million on deposit with Glitnir is at-risk; the bank has stated the councils will be treated equally with all other creditors seeing them likely to only recover 30% of the amount Glitnir held.

Kaupthing faces other difficulties. The UK’s Serious Fraud Office began an investigation earlier this month into the bank’s UK activities. At issue are allegations savers were misled into selecting one particular account type, plus suspicious financial activity suggesting substantial amounts were moved out of the bank in the days prior to its collapse.

At present, UK councils have received little more than ten percent of their over £900 million deposits. They are among over 8,500 creditors claiming a staggering total of £20 billion. The largest single claimant is the British Depositors’ and Investors’ Guarantee Fund seeking €5 billion, and, of some note, Formula One racing team Williams claiming around £10 million in unpaid sponsorship from Glitnir who took on the liability from the Icelandic buyers of Hamleys.

Debt to 84% government-owned Royal Bank of Scotland (RBS) by Glitnir stands at around £500 million; much of the actual debt written off in 2008 as RBS posted £24 billion losses. Further write-offs by the bank are expected to total less than £50 million.

Icelanders resented the discovery that fifteen senior ex-employees of Landsbanki claim €14 million between them, including a single claim of €2.7 million. Suspicion exists that the banks arranged substantial interest-free loans for various of their shareholders and executives.

Today’s announcement of the Icelandic government’s agreement to pay out €3.8 billion keeps their application for EU membership on-track, although each one of the country’s 320,000 citizens effectively faces a €12,000 debt.

Wednesday, October 25, 2006

On November 1, 2006 the old five, ten, twenty and fifty cent coins will be illegal tender, but the Reserve Bank of New Zealand says there are still at least 100 million still to be returned.

According to the Reserve Bank, most of the old coins have been lost in drains or buried in rubbish. “We think there is still another 100 million sitting around in people’s homes,” Brian Lang, currency manger for the Reserve Bank, said.

Lang said: “So far, just over 280 million coins have been returned, but there are more out there. Since 1967 the Reserve Bank has issued more than a billion of the old ‘silver’ coins. So if you don’t want to be stuck with loads of old coin – there’s never been a better time to empty your coin jars, sweep the car glove box and rummage behind the couch cushions.”

The coins still awaiting to be handed in, by either spending them, taking them to a bank or donating them to charity, are estimated to be worth between NZ$5 million and $50 million.

“A last-minute burst of publicity may convince people to bring the coins in. It’s a bit of a hassle though. Human nature being what it is, people just don’t care,” Lang said.The Karori Wildlife Sanctuary located in Wellington say that they have collected over $9,000 in old coins. Sanctuary spokesman, Alan Dicks said: “The campaign was particularly fitting because the old coins depicted tuataras and kiwis, both of which can be found living at the sanctuary. The money will go towards supporting general ecological restoration of the sanctuary. We want to get over ten grand, but the more the better.”

Lang said: “Though the coins will no longer be legal tender, banks will continue to exchange them until at least the end of the year,” and the Reserve Bank will always exchange them. “We are still getting people coming in with two-dollar notes,” Lang added.

[edit]

Saturday, August 25, 2007

The leading supplier of school uniforms in the United Kingdom, Lancashire-based manufacturer Trutex, has announced it is “seriously considering” including GPS tracking devices in future ranges of its uniform products after conducting an online survey of both parents and children.

“As a direct result of the survey, we are now seriously considering incorporating a [tracking] device into future ranges” said Trutex marketing director Clare Rix.

The survey questioned 809 parents and 444 children aged nine to 16. It showed that 44% of parents were worried about the safety of pre-teen children, and 59% wanted tracking devices installed in school apparel. 39% of children aged nine to 12 were prepared to wear clothing with tracking devices in them, while teenagers were notably less enthusiastic and more wary of what Trutex has admitted they see as a “big brother” concept.

However, Trutex has claimed the tracking devices would bring about worthwhile benefits, including being a valuable resource for parents who wanted to keep a close eye on where their children were at all times.

“As well as being a safety net for parents, there could be real benefits for schools who could keep a closer track on the whereabouts of their pupils, potentially reducing truancy levels” says Rix.

Each year, Trutex supplies 1 million blouses, 1.1 million shirts, 250,000 pairs of trousers, 20,000 blazers, 60,000 skirts and 110,000 pieces of knitwear to the UK.

It is not the first company to manufacture school uniforms with a central focus on child safety; last week Essex firm BladeRunner revealed it was selling stab-proof school blazers to parents concerned about violence against their children. The blazers were outfitted with Kevlar, a synthetic fibre used in body armour. It has already received orders internationally, including Australia.

If the Trutex tracking devices go ahead, it is unclear where in the uniform they will be located.

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.

Friday, October 7, 2016

Following an accidental death at the closed Underwater World Singapore (UWS) aquarium in Sentosa on Tuesday, operations to relocate the facility’s animals have been suspended.

Phillip Chan, 62, the head diver of the defunct facility, was moving stingrays in preparation for transfer to another aquarium when one of them stung him in the chest. Singapore newspaper The New Paper reported no prior such stingray incident was known to have occurred in Singapore. Australian conservationist Steve Irwin died in a similar manner in 2006.

Following a call to the Singapore Civil Defense Force at 2:20 pm, Chan was found near the entrance of UWS, where attempts were made to resuscitate him via CPR. He was taken to Singapore General Hospital, where he died from his injuries. While Chan’s colleagues declined to comment to The New Paper, a staff member at Shangri-La’s Rasa Sentosa Resort & Spa, who witnessed Chan being taken away by ambulance, stated, “It all happened very quickly. The ambulance came and quickly left the premises. I’ve never seen such an incident happening here before.”

UWS operator Haw Par Corporation described Chan as a “veteran diver, aquarist and animal caregiver who had been caring for the aquatic animals at UWS since its opening in 1991”. Ten staff, including Chan, remained at UWS after its closure on June 27 to facilitate care for its animals until they could be suitably relocated. In addition to assisting the Ministry of Manpower’s (MOM) Occupational Safety and Health Inspectorate with their investigations, Haw Par has pledged Chan’s family “all possible support and assistance”. Due to Chan’s death, MOM has ordered the cessation of animal transfers from UWS while investigations are pending.

In an interview with The New Paper, Dr. Tan Heok Hui, an ichthyologist and Lee Kong Chian Natural History Museum operations officer, stated, “Stingrays attack when they feel threatened, cornered or alarmed. Sometimes, a stingray might feel threatened when someone accidentally steps on it. Stingrays have backward pointing barbs on the spine that have serrated edges. They don’t just cause physical pain, the toxins in the spine can also cause extreme discomfort. When a spine pierces human flesh, it breaks and releases toxins into the flesh.”

Stingray venom contains serotonin, a neurotransmitter that can induce severe muscle contractions. According to Dr Tan, “If a victim is hit in vital organs like the chest area, it may trigger a cardiac arrest, which could subsequently be fatal”. “Stingrays are not usually aggressive, and choose defensive methods to protect themselves. However, stingrays are still wild animals, and when provoked and left with no choice, they will defend themselves using their sting.”

In an interview with The New Paper at the time of UWS’ closure in June, Chan said of the animals he worked with, whom he described as his “band of friends”, “They are so quietly tame. […] We intend to find them the best homes and environment. The next time I see them, I might not recognise them any more but if I dive, they might recognise me.”

Chan’s work at UWS entailed diving into the tanks and feeding the animals whilst visitors took photos. In an interview at the time with The Straits Times, Chan stated, “I treat [the animals] like my babies.” Chan also related anecdotes where he was bitten by sharks who mistook him for fish, releasing him when they recognised their mistake, describing the animals as “gentle”. “Whenever I get in danger,” said Chan, “I just keep calm. I can overcome any danger by just being calm”.

MOM stated of Chan’s death, “The Ministry of Manpower was informed about an incident that took place at Underwater World Singapore Pte Ltd’s premises at Siloso Road on 4 October 2016. Officers from MOM’s Occupational Safety and Health Inspectorate responded to the scene immediately and commenced investigations. Preliminary findings indicate that a worker was pierced in his chest by the barb of a stingray while he was in the midst of transferring the stingray from its tank. He was conveyed to hospital where he subsequently succumbed to this injuries.^[sic] MOM has instructed the occupier to stop all activities associated with the transferring of sea animals. Investigations are ongoing.”

Wednesday, February 6, 2008

The director of the Central Intelligence Agency has confirmed that his agency used the extreme interrogation technique known as waterboarding on three terrorism suspects nearly five years ago. In testimony to the Senate Intelligence Committee on Tuesday, Michael Hayden urged lawmakers not to place restrictions on the interrogation methods available to U.S. intelligence agencies.

Director Hayden’s testimony was the most detailed description to date of the CIA’s use of “enhanced” interrogation techniques.

“In the life of the CIA detention program, we have held fewer than 100 people,” he said. “Fewer than a third of those people have had any techniques, enhanced techniques, used against them in the CIA program.”

He confirmed that among those “enhanced” techniques used was waterboarding – which induces the feeling of imminent drowning, and which critics say amounts to torture.

“Waterboarding has been used on only three detainees,” he said.

He said those three detainees are Khalid Sheikh Mohammed – one of the architects of the September 11th attacks on New York and Washington, Abu Zubaydah – who is believed to have been a top al-Qaida strategist, and Abd al-Rahim al-Nashiri – who is believed to have played a key role in the bombing of the USS Cole. All three are being held at the U.S. detention facility at Guantanamo Bay.

Hayden said waterboarding was used against the three detainees nearly five years ago because of circumstances at the time, including the belief that additional attacks against the United States were imminent.

Hayden defended the CIA’s use of extreme interrogation techniques as lawful, and urged lawmakers not to impose restrictions on such methods.

Congress is considering legislation that would restrict the CIA to using only the interrogation techniques authorized by the U.S. Army’s field manual, which does not include waterboarding.