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Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”

Sunday, June 26, 2005

MTV Networks’ MTV and VH1 have secured the rights to distribute over cable networks the Live 8 series of concerts which will be taking place at 8 venues in Europe, North America and Japan. The concerts are meant to raise awareness of poverty in Africa and charitable donations to fight it.

America Online holds the rights to broadcast Live 8 over the Internet and is currently in talks with American Broadcasting Company to also broadcast the concert.

MTV, VH1, and its college network, mtvU will broadcast the concert from noon to 8 PM. This will be the second outing for MTV, as they broadcasted the original Live Aid concert. If ABC decides to air the concert as well, this will also be their second going as well. According to MTV, this is the longest MTV has gone without a televised event since the coverage of the violent, riot-filled Woodstock 1999.

Two radio networks will also broadcast the concert. The subscription-based XM Satellite Radio will broadcast the original five announced concerts but will not broadcast the Tokyo or Barrie concerts. Premiere Radio Networks will broadcast the concerts tailored to the three genres of urban, rock and roll and pop music.

Some of the performers slated are: U2, Coldplay, Madonna, Dave Matthews Band, Jay-Z, Destiny’s Child and a reunited Pink Floyd.

Monday, October 1, 2007

Charles de Kerckhove is running as an independent in the Ontario provincial election, in the riding of St. Paul’s. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Saturday, August 20, 2005

A power outage in Indonesia that left about 100 million people without electricity has caused a political crisis. The country’s state-owned energy monopoly, PLN, has not determined the immediate cause, and the country’s president has ordered the national intelligence agency and police to investigate.

The blackout appears related to deficiencies in Indonesia’s power generation capacity.

The power failure follows attempts to deal with the country’s growing energy crisis, including conservation and trying to allow private companies to provide energy, which was ruled unconstitutional in 2004. In January, the Indonesian government held a special energy summit to attract investment in their energy infrastructure. At the summit they set the goal of adding 22,000 megawatts to Indonesia’s present capacity of 23,000 megawatts, in order to support the country’s growth.

The World Bank and others have warned that without more investment in the country’s energy infrastructure an energy deficit will result. However, foreign investors remain wary of investing in Indonesia. “The power outage has resulted in worries over an energy crisis which could hurt the nation’s industrial sector,” said a trader on Indonesia’s stock market.[1]

The outage began at 10:23 a.m. local time, August 18, 2005, when power failed along the electrical system that connects Java, Bali, and Madura, causing outages in Java and Bali. Almost half of the country depends on the electrical grid that experienced failures. Some of the main lines on the grid are over 20 years old, according to PLN president Eddie Widiono.

The blackout caused traffic jams in Jakarta, forced cancellation of several international and domestic flights at Jakarta’s Soekarno-Hatta International Airport, shut down Jakarta’s electric train service, and disrupted hospital operations. Some larger hospitals were forced to delay surgeries while many smaller hospitals could not receive patients. About 1,800 officers were called into action by Jakarta’s metropolitan police to deal with short-term problems caused by the power failure.

Candles used in place of electric lighting started six fires in Jakarta alone.

Mulyo Aji, a PLN official, said more power failures are likely in the future as energy demand increases, without any corresponding new supplies of electricity scheduled to come online soon.

Friday, March 20, 2009

The owner of a New Jersey real estate investment firm has been charged with using $2 million of his company’s money for construction at his home and other projects not related to work.

Gary Klein, owner of the Asbury Park-based REI Group Inc., surrendered himself to police after a Monmouth County grand jury indicted him on one count of theft by deception charges.

The charges were the result of a three-year investigation into his practices. Klein, 45, of Colts Neck Township, faces up to 10 years in state prison if convicted. Klein was released Friday after posting $75,000 bail.

Klein attracted clients by telling them he would invest their money in projects that would result in returns of 12 and 85 percent. Prosecutors said the actions mirrored those of a Ponzi scheme.

Robert Weir, Klein’s attorney, said the operation was not a Ponzi scheme, but legitimate business investments that went bad as the economy declined. Weir also said Klein hired a receiver to try and return the investors’ money once the investments started to go sour.

“It’s a shame that a business that experienced a turn in the real estate market is now being treated as a criminal problem. That was not Mr. Klein’s intent,” Weir said to The Star-Ledger.

Weir said the investments were used for building rehabilitation projects in Asbury Park and the construction of Florida condominium complexes, but authorities said Klein used the money to repay earlier investors who were cashing out, as well to help build his own home.

Wednesday, September 28, 2005File:Tom Delay old pix.jpg

U.S. House of Representatives majority leader Tom DeLay was today indicted in Austin, Texas by a Travis County grand jury on conspiracy charges. DeLay announced that he will step down temporarily from his leadership position.

DeLay has publicly countered that the charges are partisan and thus politically motivated. The charges originate from the District Attorney of Travis County, Ronnie Earle, a Democrat who has prosecuted Democrat and Republican office holders, including U.S. Senator Kay Bailey Hutchison. [1]

Mr. DeLay’s attorney Steve Brittain said that DeLay was accused of a criminal conspiracy in a campaign finance scheme along with two associates, namely John Colyandro, former executive director of a Texas political action committee formed by DeLay, and Jim Ellis, the head of DeLay’s national political committee.

Attorneys for Colyandro and Ellis have filed to have the proceedings moved out of Travis County in order to obtain a fair trial. [2] Travis County, located in central Texas, contains the state capital of Austin and is politically known as a liberal county within a conservative state, as indicated by the most recent presidential elections.

According to the indictment, “the defendants herein, with the intent that a felony be committed, did enter into an agreement with one or more of each other with a general purpose committee known as Texans for a Republican Majority PAC (political action committee) that one or more of them would engage in conduct that would constitute the offense of knowingly making a political contribution in violation of Subchapter D of Chapter 253 of the Texas Election Code…” The indictment does not include specific charges of how DeLay was involved in the conspiracy. Mr. DeLay waived a three-year restriction for the indictment.

Mr. DeLay, upon announcement of the indictment, made a solitary public comment: “I have notified the speaker that I will temporarily step aside from my position as majority leader pursuant to rules of the House Republican Conference and the actions of the Travis County district attorney today.”

Earlier, DeLay denied all charges in the lengthy investigation. Bill White, another of DeLay’s attorneys, said “it’s a skunky indictment if they have one.” DeLay’s spokesman, Kevin Madden, called the indictment “nothing more than prosecutorial retribution by a partisan Democrat,” referring to prosecutor Ronnie Earle, a Democrat.

According to House Republican party rules, DeLay must resign upon indictment. Party officials told the Associated Press that Speaker of the House, Dennis Hastert R-Illinois, will likely recommend Republican David Dreier of California as replacement, while some duties may also go to Majority whip Roy Blunt, R-Missouri.

DeLay has previously been admonished three times by the House Ethics Committee. In their October 6, 2004 letter to him, the members wrote in part concluding, “…it is clearly necessary for you to temper your future actions to assure that you are in full compliance at all times with the applicable House Rules and standards of conduct. We remind you that the House Code of Official Conduct provides the Committee with authority “to deal with any given act or accumulation of acts which, in the judgment of the committee, are severe enough to reflect discredit on the Congress.” [3]

House Republicans earlier eliminated the rule requiring his resignation upon indictment, but reinstated it fearing voters’ outcry.

DeLay’s Political Action Committee, Texans for a Republican Majority, was earlier indicted on charges it accepted corporate contributions mostly from the credit card industry .[4] for use in state legislative elections. Texas law prohibits corporate money from being used in elections, permitting it only for administrative expenses.

Having gained GOP control of Texas’s legislature, DeLay masterminded a redistricting plan in 2004 that allowed the GOP to gain six seats in the U.S. House, formerly won by Democrats, and build a majority in Congress. In one case, one lawmaker switched parties, to maintain office.

Tuesday, April 20, 2021

Wikinews extended invitations by e-mail on March 23 to multiple candidates running in the Texas’ 6th congressional district special election of May 1 to fill a vacancy left upon the death of Republican congressman Ron Wright. Of them, the office of Democrat Daryl Eddings, Sr. agreed to answer some questions by phone March 30 about their campaigns and policies. The following is the interview with Ms Chatham on behalf of Mr Eddings, Sr.

Eddings is a federal law enforcement officer and senior non-commissioned officer in the US military. His experience as operations officer of an aviation unit in the California National Guard includes working in Los Angeles to control riots sparked by the O. J. Simpson murder case and the police handling of Rodney King, working with drug interdiction teams in Panama and Central America and fighting in the Middle East. He is the founder of Operation Battle Buddy, which has under his leadership kept in touch with over 20 thousand veterans and their families. He was born in California, but moved to Midlothian, Texas. He endeavours to bring “good government, not no government”. Campaign manager Faith Chatham spoke to Wikinews on matters ranging from healthcare to housing.

An Inside Elections poll published on March 18 shows Republican candidate Susan Wright, the widow of Ron Wright, is ahead by 21% followed by Democrat Jana Sanchez with 17% and Republican Jake Ellzey with 8% with a 4.6% margin of error among 450 likely voters. The district is considered “lean Republican” by Inside Elections and voted 51% in favour of Donald Trump in last year’s US presidential election. This is down from 54% for Trump in 2016’s presidential election, the same poll stated.