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Thursday, April 15, 2010

Hundreds of thousands of air travelers had their travel plans disrupted in Europe by volcanic ash from the Eyjafjallajökull eruption.

Tens of thousands of air travelers were stranded when all flights into and out of the United Kingdom were grounded, as it became one of the first nations to be affected. The grounding was even more extensive than that following the September 11 attacks of 2001 when only trans-Atlantic flights were canceled.

Eurocontrol released a statement saying “…most air traffic in the United Kingdom, Ireland, Denmark, Norway and Sweden is suspended.”

The grounding is because the volcanic ash drawn into the jet stream is of a particle size which allows it to remain aloft in the atmosphere. Ingestion of this foreign matter, because of its distribution, would lead to flame outs in all aircraft engines. The composition of the ash also means that it would first melt into glass if it were to enter the engine of an aircraft before solidifying again as it cooled. This could lead to damage to the compressors and fan blades, which would make it impossible to restart the engines, even if the aircraft were to exit the cloud.

The current contingency is informed by the experience of British Airways Flight 9, which on June 24, 1982 suffered just such complete engine flame outs when it flew through the plume of Mount Galunggung in Indonesia. In that case, the flight crew after many efforts was able to restart the engines, though one failed shortly after, and the aircraft landed without casualties.

The UK National Air Traffic Services (NATS) has stated that “restrictions will remain in place in UK controlled airspace until 1300 (UK time) tomorrow, Friday 16 April, at the earliest,” and that “We will review further Met Office information and at 0230 (UK time) tomorrow we will advise the arrangements that will be in place through to 1800 (UK time) tomorrow.” The NATS statement concluded “…the situation cannot be said to be improving”.

In addition to Northern Europe, the ash is drifting south; Berlin and Hamburg airports in Germany are closed, and airports in the Netherlands, Belgium and Northern France are described as now being closed or closing. Some flights from Spain and Portugal, together with upwards of 4,000 flights across Northern Europe, have been affected, and the knock-on effect of aircraft and crews out of position could disrupt air travel worldwide for up to 72 hours.

One affected group are British musicians booked to play at this weekend’s Coachella Festival in California. Amongst those stranded are Frightened Rabbit, Gary Numan, The Cribs and Bad Lieutenant.

Sunday, July 10, 2011

British-based utility company Centrica, which holds ownership of British Gas, has announced its intentions to increase the prices of domestic electricity and gas later this year. On August 18, 2011, the company plans to raise the costs of gas and electrical supplies by eighteen and sixteen per cent, respectively. According to The Guardian, nine million customers will be affected by these changes.

British price comparison website uSwitch has reported that the “[a]verage household bill for a dual fuel British Gas customer will now go up from £1,096 to £1,288”. Mike O’Connor, the chief executive officer of consumer organisation Consumer Focus, has claimed that the announcement “will send a shock wave across the country” and will place an increasing amount of difficulties “on stretched household budgets. Consumers […] rightly question whether prices are fair.”

Phil Bentley, a managing director for British Gas, has claimed that value increases like this are “an issue facing all energy suppliers”. A director for British Gas, named Ian Peters, has claimed that “a fair return” will be made after the changes occur.

In 2010, British Gas experienced its largest ever profit, making £742 million (US$1,192 million, €835 million). Meanwhile, Centrica achieved £2.4 billion (US$3.8 billion, €2.7 billion) in profits. Richard Lloyd from product sampling charity Which? criticised the decision to raise prices, calling the declaration “unwelcome but unsurprising” for British Gas consumers.

Previously in December 2010, British Gas increased the price of its gas by 6.9%, which equates to £43 (US$69, €48). At the same time, the company’s electricity prices were raised by 6.7%, or £28 (US$45, €32). On Friday, Chris Huhne, the secretary of the Energy and Climate Change Select Committee, said that British electricity businesses must modify themselves so as to avoid “the cycle of fossil fuel addiction. Alternatives like renewables and nuclear power must be allowed to become the dominant component of our energy mix,” said Huhne.

This news comes to light as Scottish Power, a rival energy company to British Gas, announced last month their intentions to up the prices of their electricity and gas supplies by ten and nineteen per cent respectively.

Monday, December 2, 2013

Police in the West Midlands in England today said nearly 200 kilograms worth of drugs with value possibly as great as £30 million (about US$49 million or €36 million) has been seized from a unit in the town of Brownhills. In what an officer described as “one of the largest [seizures] in the force’s 39 year history”, West Midlands Police reported recovering six big cellophane-wrapped cardboard boxes containing cannabis, cocaine, and MDMA (“ecstasy”) in a police raid operation on the Maybrook Industrial Estate in the town on Wednesday.

The seized boxes, which had been loaded onto five freight pallets, contained 120 one-kilogram bags of cannabis, 50 one-kilogram bags of MDMA, and five one-kilogram bricks of cocaine. In a press release, West Midlands Police described what happened after officers found the drugs as they were being unloaded in the operation. “When officers opened the boxes they discovered a deep layer of protective foam chips beneath which the drugs were carefully layered”, the force said. “All the drugs were wrapped in thick plastic bags taped closed with the cannabis vacuum packed to prevent its distinctive pungent aroma from drawing unwanted attention.” Police moved the drugs via forklift truck to a flatbed lorry to remove them.

Detective Sergeant Carl Russell of West Midlands Police’s Force CID said the seizure was the largest he had ever made in the 24 years he has been in West Midlands Police and one of the biggest seizures the force has made since its formation in 1974. “The impact this seizure will have on drug dealing in the region and the UK as a whole cannot be underestimated”, he said. “The drugs had almost certainly been packed to order ready for shipping within Britain but possibly even further afield. Our operation will have a national effect and we are working closely with a range of law enforcement agencies to identify those involved in this crime at whatever level.”

Expert testing on the drugs is ongoing. Estimates described as “conservative” suggest the value of the drugs amounts to £10 million (about US$16.4 million or €12 million), although they could be worth as much as £30 million, subject to purity tests, police said.

Police arrested three men at the unit on suspicion of supplying a controlled drug. The men, a 50-year-old from Brownhills, a 51-year-old from the Norton area of Stoke-on-Trent in Staffordshire, and one aged 53 from Brownhills, have been released on bail as police investigations to “hunt those responsible” continue. West Midlands Police told Wikinews no person has yet been charged in connection with the seizure. Supplying a controlled drug is an imprisonable offence in England, although length of jail sentences vary according to the class and quantity of drugs and the significance of offenders’ roles in committing the crime.

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

Friday, July 30, 2021

On Monday, Filipina weightlifter Hidilyn Diaz won the gold medal at the Tokyo Olympics in women’s weightlifting in the 55 kg category during her fourth Olympic games. She lifted a combined weight 224 kg (494 lb), tying the previous new Olympic record. In the snatch she lifted 97 kg (214 lb) and in the clean and jerk 127 kg (280 lb), totaling the 224 kg.

After the match, she said in an interview, “I am 30 years old and I thought it would be like going down, my performance, but I was shocked I was able to do it”. A statement from the Philippines’ presidential spokesman Harry Roque celebrated Diaz’s win, saying, “Congratulations, Hidilyn. The entire Filipino nation is proud of you”.

The previous record-setter Liao Qiuyun of China took the silver medal with a total weight of 223 kg (492 lb), and Zulfiya Chinshanlo of Kazakhstan took the bronze with 213 kg (470 lb).

Diaz won the silver medal during the 2016 Olympic Games in Rio de Janeiro, Brazil, where she competed in the 53 kg category. She won a gold medal in the 2019 Southeast Asian Games. Diaz trained in Malaysia, where she was stuck due to COVID-19 travel restrictions imposed by the Philippines. While there, she trained in a self-built gym, using water bottles.

Saturday, September 10, 2005

In a press release on September 8 from the Swedish Ministry of Education, Research and Culture it was announced that new television broadcasting licenses for the Swedish digital terrestrial television network was to be given and that the Radio and Television Authority (RTVV) had been given the task to handle the applications. All digital television licenses will cease by the end of 2005 and the companies must apply for a renewal if they want to continue broadcasting in 2006 and 2007.

Minister Leif Pagrotsky says in the press release that he is “taking an initiative towards a broader offer and more free channels”. He doesn’t give any clue on how this will be done in the press release, however. In an interview in Dagens Media, his press secretary Thomas Johansson says that new applicants most likely must offer free-to-air channels if they want a licence. Johansson says that there is space for at least two more channels in the network.

The RTVV shall leave a suggestion of what channels will get new or continued licenses on November 21, 2005. As of September 8 TV4 AB, Dagens Industri, Sportexpressen and Eurosport SA had sent their applications for new or continued licenses.

Currently, very few of the 33 channels in the network have chosen to go free-to-air, in contrast to the United Kingdom, Germany and Finland where most channels are free-to-air.

Friday, July 22, 2005

Representative Tom Tancredo (R-CO) has clarified his earlier statement that “you could take out their holy sites,” in the event of a nuclear attack upon the U.S. by Islamic terrorists. Rep. Tancredo has refused to make any apologies, saying “When we bombed Hiroshima, when we bombed Dresden, we punished a lot of people who were not necessarily (guilty). Not every German was a member of the Nazi Party. You do things in war that are ugly.” However, Tancredo emphasized that he was speaking hypothetically and not necessarily suggesting policy.

The remarks, made in a July 15th radio interview, hosted by Pat Campbell of WFLA in Orlando, Florida, have drawn support from conservatives groups such as Northeast Intelligence Network and Free Republic, and have offended the American Muslim community.In the interview, Tancredo discussed his request for information from the Justice Department regarding the claim of evangelical Christian journalist Joseph Farah that al-Qaida has smuggled multiple nuclear weapons into the U.S.