Monday, July 19, 2010

A suicide bomber killed 43 people in Iraq Sunday, injuring an estimated 40 more.

The attack occurred southwest of Baghdad and targeted members of a government-backed militia, Sons of Iraq, also known as the Sahwa, who were waiting to collect their pay. Early reports say the attacks killed at least three soldiers and injured an additional thirteen, while three accountants died and four more were wounded. It’s not yet clear who the remaining casualties are.

A survivor of the bombing said that “[t]here were more than 85 people lined up in three lines at the main gate of the military base to receive salaries when a person approached us. When one of the soldiers tried to stop him, he blew himself up.”

An Iraqi military official said that “[t]he suicide bomber blew himself up in the biggest group of Sahwa members. We generally let them enter the base in groups of 10 for them to get their salaries.”

A second suicide bombing took place in Western Iraq, when an attacker fired upon Sahwa militants in Al-Qa’im before blowing himself up, killing three people, with six more injured.

Credit for the attacks has not yet been claimed, but al-Qaeda is considered the probable culprit.

The Sahwa movement is a Sunni militia group that split from al-Qaeda in 2006, and with US support have been one of the groups fighting al-Qaeda. In recent months, members of the militia have said that they have come under attack from other militant groups, and support from the Iraqi government has been reduced.

Thursday, February 15, 2007

The year 2007 marks the meeting of the major representatives of the watch and jewelry industry at BaselWorld Show, Basel, Switzerland. The Show will take place in the period of April 12 – 19, 2007. The international event is to attract over 2000 companies from 45 countries and about 90,000 visitors.

At present day the luxury goods business holds quite strong positions in the world industry and is still developing at high rates due to appropriate economic climate. Thus, BaselWorld is perceived by watch and jewelry producers and their partners as favorable new grounds for their further development.

BaselWorld is organized annually by MCH Swiss Exhibition (Basel) Ltd with a purpose to provide new business opportunities for the participants who are expected to exhibit their latest products in the exhibition area of about 160,000 m2. Visitors come to BaselWorld to keep aware of the current trends of watch and jewelry making, while retailers and wholesalers discover new partners and strengthen their links with well-established ones.

The exhibition is divided into product sectors presented in the six exhibition halls, among them there are the Hall of Universe and the Hall of Elements. This year the management of the Show has taken care of updating and redecorating the design of the halls.

All the participants of the event will be able to expand their business contacts beyond the fair in the BaselWorld Village located nearby. The ‘village’ comprises special facilities for partners to discuss their matters in informal atmosphere.

Tuesday, January 24, 2006

The Walt Disney Company has finalized a US$7.4 billion deal to acquire its long-time partner Pixar in an all stock buy-out. The deal will make Steve Jobs, current Pixar and Apple CEO, Disney’s largest shareholder with about 7% (valued at over $3.5 billion) and a member of the board of directors.

The merger was speculated all day Tuesday on the stock market and the announcement came just after trading closed for the day. Terms of the merger include Pixar’s John Lasseter becoming Disney’s new chief creative officer in charge of animation at the combined Disney-Pixar Animation Studios, as well as principal creative advisor at Walt Disney Imagineering, the unit of the company responsible for research and development of Disney theme parks worldwide.

Jobs purchased what became Pixar for $10 million in 1986 from George Lucas’s computer animation division at Lucasfilm. Toy Story, its first feature film, came a decade later, and began a long string of animation hits, including Finding Nemo. Such successes proved to be increasingly elusive for Disney to manage on its own. The partnership between the two studios had become shaky in recent years, as former Disney head Michael Eisner clashed with Jobs over the renewal terms of their agreement. In 2003, prior to his dismissal from Disney, Eisner infuriated Pixar’s creative team by predicting Finding Nemo would be a failure. Steve Jobs broke off negotiations in January 2004, having told one executive previously, “I don’t see how the relationship can continue as long as Eisner is there.”

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.

Wednesday, December 16, 2009

In a continuing crackdown on tax evasion, the Canada Revenue Agency (CRA) has alleged that brokers with a branch of RBC Dominion Securities, Canada’s largest brokerage company, helped clients set up accounts in the small European principality of Liechtenstein in order to avoid taxation on their wealth.

In affadavits submitted by the CRA, brokers with an RBC Dominion Securities office in Victoria, British Columbia, allegedly helped clients set up 16 offshore entities with a division of the LGT Group in Liechtenstein. While that is not a crime under Canadian law, auditors allege that the entities were used to help Canadians hide worldwide income. Thirteen individuals are either being audited or have made voluntary disclosures, admitting to tax evasion. The agency is presently investigating to see if there are any other individuals participating in this scheme. Regarding the inquiry, dubbed “Project Jade”, the CRA will only say that it was launched on information from a “confidential informant”.

RBC issued a written statement, saying “As a firm, we have never encouraged Canadians — not 25 years ago and not today — to set up entities in Liechtenstein, and we have never instructed our investment advisers to recommend that practice,” and “we comply with all CRA requirements. This means that we provide all our clients with the forms they need to meet their personal tax obligations, and also file reports with CRA that form the basis for reviews such as this.”

Three RBC employees are presently being investigated, with one remaining unidentified.

Monday, February 28, 2005

Charlotte, North Carolina — One of the biggest domestic banks in the United States, Bank of America, has admitted to losing computer tapes containing 1.2 million federal employee accounts, including the accounts of several U.S. senators, in a statement by the bank. According to the Pentagon, most of the accounts belong to staff and civilians in the Department of Defense. The bank said the tapes were lost in December 2004 as they were being transported to a data back-up centre by a commercial plane.

Currently, the U.S. Secret Service are looking in to the matter, a federal agency whose brief includes investigations of serious financial crime such as this. All parties concerned are worrying about possible identity theft as it contained valuable information such as bank account numbers, names and addresses.

Thursday, November 19, 2009

On Monday Daimler AG announced a deal to buy a 75.1% stake in Brawn GP.

As a result, the team who won both the 2009 Drivers’ and Constructors’ championships this year with Mercedes-engined cars, would be rebranded as Mercedes Grand Prix from 2010 Formula One Season onwards. The team could possibly use its legendary ‘Silver Arrows’ livery again since a crash at Le Mans in 1955, ending Mercedes’ 55 year absence in the sport as a sole team.

Daimler purchase went in partnership with Aabar Investments, who now own 30% of the shares. The rest of the shares will stay for Ross Brawn, who will remain as team principal, and Nick Fry.

The team still will be headquartered in Brackley (United Kingdom) which is close to Mercedes F1 engine plant at Brixworth, led by Norbert Haug, Vice-President of Mercedes-Benz Motorsport.

Mercedes will also continue to supply McLaren with engines until at least 2015, but sell its 40% stake in two years.

Mercedes is now up to decide their drivers for the next season as Rubens Barrichello already signed a contract with Williams and Jenson Button could run for McLaren together with Lewis Hamilton.