Thursday, December 31, 2015

The Financial Conduct Authority, one of Britain’s banking sector regulators, indicated it has decided to drop an inquiry into banking culture, including practices and payment of banking staff. The inquiry was intended to review “whether culture change programmes in retail and wholesale banks are driving the right behaviour, in particular focusing on remuneration, appraisal and promotion decisions of middle management, as well as how concerns are reported and acted on”.

A spokesman for the Financial Conduct Authority stated: “A focus on the culture in financial services firms remains a priority for the FCA[…] There is currently extensive ongoing work in this area within firms and externally. We have decided that the best way to support these efforts is to engage individually with firms to encourage their delivery of cultural change as well as supporting the other initiatives outside the FCA.”

The Shadow Chancellor, Labour’s John McDonnell, said shutting down the inquiry would be a “dangerous and costly mistake” and said: “This will be a huge blow to customers and taxpayers who are all still paying the price for the failed culture in the banking sector that’s been widely attributed to be among the main causes of the crash and the scandals over Libor and price-fixing”.

Members of the Treasury Select Committee have also been critical of the cancellation of the review. On Twitter, Labour MP John Mann stated the “FCA surrender to big banks today is entirely from pressure from Treasury and Osborne”. Conservative MP Mark Garnier, told the BBC: “There has always been this great argument that perhaps the Treasury is having more influence over the regulator than perhaps it ought to and certainly, if I was looking for a Machiavellian plot behind what’s happened here and the tone of the regulator, then I suppose I would start looking at the Treasury.”

Richard Lloyd from the consumer group Which? expressed disappointment at the cancellation of the report: “It’s disappointing that the regulator has decided against publishing this report on the culture of banking. Cultural change doesn’t happen overnight, so despite signs of improvement, the FCA must not take their eye off the ball and should continue to clean up the industry”

The FCA has had no leader since Martin Wheatley resigned in July following an expression of no confidence by George Osborne, the Chancellor of the Exchequer.

Monday, May 9, 2005

Workers at Newport Chemical Depot in Indiana have completed a successful test-run of a chemical reactor designed to dispose of Cold War stockpiles of VX nerve agent.

After encountering initial difficulties when the temperature in the reactor grew too high, workers were able to adjust the speed of the device. 180 gallons of VX and water were turned into a caustic but far less lethal compound, that can be further reprocessed into an inert substance.

A residue of 14 parts VX per billion remained; the Army’s eventual goal is less than 20 parts. One drop of VX can kill a grown man.

The conversion of the VX stockpiled at the facility is projected to take two years. Then the drain cleaner-like waste product with its small residue of VX will need to be sent to another facility for reprocessing into a safer, biodegradable compound.

A controversial plan has Dupont doing the reprocessing at their facility in New Jersey, and dumping the compound into the nearby Delaware River.

Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Wednesday, May 17, 2017

Yesterday morning, United States President Donald Trump defended his disclosure of classified information regarding the Islamic State of Iraq and the Levant (ISIL or ISIS) to Russian foreign minister Sergey V. Lavrov and ambassador Sergey I. Kislyak, a decision that has drawn a storm of both explanation and criticism from the media and both major U.S. political parties over the past week.

Trump spoke directly to the public, as is his custom, via Twitter: “As president, I wanted to share with Russia (at an openly scheduled [?White House?] meeting) which I have the absolute right to do, facts pertaining to terrorism and airline flight safety. Humanitarian reasons, plus I want Russia to greatly step up their fight against Isis and terrorism.”

On May 10, President Trump met with Lavrov and Kislyak in the Oval Office and, according to reports first from the Washington Post, told them about an Islamic State plot to sneak explosives onto airplanes by hiding them in laptop computers, which may have placed the anonymous partner who provided it in danger of identification. According to U.S. officials, the information in question was so sensitive that it is not only usually not shared with allies but also extremely restricted even within the U.S. government.

“The Russians have the widest intelligence collection mechanism in the world outside of our own,” said John Sipher, the former head of the U.S. Central Intelligence Agency’s Russia division. “They can put together a good picture with just a few details[…] They can marry President Trump’s comments with their own intelligence, and intelligence from their allies. They can also deploy additional resources to find out details.”

While it is not illegal for the sitting U.S. president to share classified information with foreign officials, it may violate the agreement with the person or organization who provided the information in the first place. There are concerns the Russians may reverse-engineer the process by which the information was gathered and identify the source. Because many of the countries in the Middle East have tribal-level connections to areas controlled by the Islamic State, allowing a source to be identified could place them in political as well as personal danger. An official from one country in Europe told the Associated Press his government might cease to share intelligence with the United States. According to U.S. officials who spoke on condition of anonymity, the information came from Israel. None of their Israeli counterparts have seen fit to either confirm or deny this, and Israeli ambassador to the U.S. Ron Dermer wrote to The New York Times expressing “full confidence” in the U.S. intelligence process.

Trump’s advisors who were present at the meeting were quick to say on Monday, once the disclosure was reported publicly, that Trump did not tell the Russians exactly how the U.S. had come by any information. “At no time — at no time — were intelligence sources or methods discussed, and the president did not disclose any military operations that were not already publicly known,” said Trump’s National Security Advisor, Lieutenant General H.R. McMaster, who also told reporters, “I was in the room. It didn’t happen.” No U.S. newspapers were invited to the meeting.

Maria Zakharova, a spokesperson for the Russian foreign ministry, said the report of Trump disclosing classified material was “another fake.”

Republican Senator Bob Corker of Tennessee, noting he was not present at the meeting and did not personally know if President Trump actually compromised the source, said, “To compromise a source is something that you just don’t do, and that’s why we keep the information that we get from intelligence sources so close as to prevent that from happening.”

Senator Jack Reed of Rhode Island, who serves on the U.S. Armed Services Committee, and fellow Democrat Adam Schiff of the House Intelligence Committee both raised concerns about Trump’s mindfulness. Reed called it “reckless” and said: “The president of the United States has the power to share classified information with whomever they wish, but the American people expect the president to use that power wisely. I don’t believe the president intentionally meant to reveal highly secretive information to the Russians.”

Republican John McCain of Arizona called this “A troubling signal to America’s allies and partners around the world and may impair their willingness to share intelligence with us in the future.”

Trump’s meeting with the Russian ministers took place one day after he fired Federal Bureau of Investigation director James Comey, who had been running an investigation into alleged Russian involvement in the 2016 U.S. presidential election, which raised concerns about obstruction of justice.

Thursday, February 8, 2007

This Sunday, the International Animated Film Association (Association International du Film d’Animation) or ASIFA will hand out the Annie Awards in Glendale, California. As animation’s highest honor, the crowd is always a who’s who of direction, art design, character design, layout, visual effects, and voice artists.

There are 23 award categories in the Annies, sorted into Individual Achievement and Production categories.

Perhaps the most competitive category is “Best Animated Feature”, which will be a fight between Cars (Pixar Animation Studios), Happy Feet (Warner Bros. Pictures/Village Roadshow Pictures/Kennedy Miller Production/Animal Logic Film), Monster House (Columbia Pictures/ImageMovers/Amblin), Open Season (Sony Pictures Animation/Columbia Pictures) and Over The Hedge (DreamWorks Animation).

Cars, Happy Feet, and Monster House are all nominated in the Academy Awards for the same category, perhaps signifying an edge up in the competition.

Direct-to-DVD releases are eligible for the “Best Home Entertainment Production”. Included are Bambi II (DisneyToon Studios), The Adventures of Brer Rabbit (Universal Animation Studios), and Winnie the Pooh: Shapes & Sizes (DisneyToon Studios).

Charlie and Lola, Foster’s Home for Imaginary Friends, King of the Hill, The Fairly OddParents, and Wow! Wow! Wubbzy! are all up for “Best Animated Television Production”.

“Best Animated Video Game” will be awarded to either Flushed Away The Game (D3 Publisher of America, Inc.), Monster House (THQ, Inc.), and SpongeBob SquarePants: Creature From the Krusty Krab (THQ, Inc.); the category was just created last year.

Adventure Time (Nickelodeon), Fumi and the Bad Luck Foot (Thunderbean Animation), No Time For Nuts (Blue Sky Studios), and Weird Al Yankovic Don’t Download This Song (Acme Filmworks) are all up for “Best Animated Short Subject”. Only No Time for Nuts is up for an Oscar, which has significantly different rules. “Best Animated Television Commercial” will go to either an advertisement for Candy Factory, ESPN, Hilton, St. Louis Zoo, or United Airlines.

Notably, no non-US films or productions have been nominated for any of the awards.

ASIFA is a non-profit worldwide organization dedicated to preserving and promoting animation, which maintains national branches in 55 countries, as far away as UlanBaatar, Mongolia and Tehran. The Annies are awarded by its California chapter ASIFA-Hollywood.

The awards were started in 1972, after voice actress June Foray noticed the industry lacked a formal way to acknowledge its achievements. Performing in over 202 productions, Foray’s most known characters are Rocket J. Squirrel (Rocky and Bullwinkle) and Granny (Looney Tunes).

ASIFA also hands out “Juried Awards” to various notable figures in animation. Bill Plympton, Genndy Tartakovsky, and Andreas Deja will each win the Winsor McCay Award, in recognition of lifetime or career contributions to the art of animation. Bill Matthews, Michael Fallik, Marc Deckter, and Eric Graf will each win a Certificate of Merit. The June Foray Award will go to Stephen Worth, for his “significant and benevolent or charitable impact on the art and industry of animation.” The Ub Iwerks Award and Special Achievement award will not be handed out.

Professional photographer John Mueller will attend the ceremony on behalf of Wikinews, taking photos of nominees and the rest of America’s animation elite. Mueller was selected from a wide pool of professionals offering their services. The photos from the event will be released under the Creative Commons By Attribution license, which allows them to be used by anyone for any purpose.

Saturday, October 31, 2009

A man has been given a prison sentence of nine years for the manslaughter of his wife in Hampshire, England. 40-year-old Sally Sinclair was head of business analysis for mobile phone provider Vodafone and had been killed in August 2008 in her home in the village of Amport, after admitting to her husband that she had had an affair. When her body was found in the kitchen of the house, it was discovered that she had suffered a partially severed head and at least 40 stab wounds. Winchester Crown Court had heard during the trial that the attack was partly witnessed by children.

Alisdair Sinclair, who is 48 years old and caused the attack, was cleared of charges of murder, but was sentenced to nine years in prison for charges of manslaughter. Judge Guy Boney QC has been quoted as saying: “Your wife did everything she could to support and help you and indulge your eccentricities, including spending £100,000 (US$164,470) on three cars of the same model you hardly ever used.

“She wanted to make the marriage work and save it from collapse. These efforts cost her her life. Sally Sinclair appears to have coped with, and tolerated, your behaviour over a long period. When she could not take any more of your behaviour you exploded in a frenzy of brutality in reaction to certain information you forced out of her.”

Speaking about the case, Detective Sergeant Sarah Simpson from Hampshire Constabulary said outside of the courtroom: “A successful career woman had her life tragically and prematurely cut short and her family now have to lead their lives without her. Nothing can ever compensate for that.”