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Tuesday, August 15, 2006

A Japanese tanker has spilled an estimated 4,500 tonnes (1.4 million gallons) of crude oil in the eastern Indian Ocean, after colliding with a cargo ship, which it was trying to assist, the tanker’s owners report.

A statement released by Mitsui O.S.K. Lines, Ltd, the owners of the tanker, Bright Artemis said that the tanker was attempting to rescue the crew of the distressed Singapore-registered cargo ship, Amar, when the two vessels came in contact about 470 km (290 miles) west of the Great Nicobar Island in the Indian Ocean at 1:00 p.m., (3:00 p.m. JST) on Monday. The collision opened a gash 1 meter in height and 5 meters in length on the single-hulled tanker’s starboard side, spilling its crude oil cargo. The statement said that the spill has been contained, the crew of the Amar are safe on board another rescue vessel and no other injuries have been reported.

The tanker reported the location of the incident as 5’46″N, 89’04″E and the cargo ship Amar was on fire when the incident happened, said the statement. It added that oil has been transferred from the damaged tanks to other tanks, the tanker is proceeding east at a reduced speed and that the Maritime Port Authority of Singapore and the Indian Coast Guard have been informed of the incident.

The Bright Armetis was manned by a crew of 23 including Croatians, Filipinos and a Canadian and was carrying close to 250,000 tonnes of crude oil from the Persian gulf to Japan, according to the company.

Indian Coast Guard officials told Reuters news agency that the spill lies outside India’s exclusive economic zone and that they are watching the situation closely.

Bloomberg reports that shares of Mitsui O.S.K. Lines Ltd. fell as much as 4.3% upon news of the event. Mitsui is Japan’s second-largest shipping company.

Sunday, April 24, 2005

New York Stock Exchange (NYSE) announced last Wednesday that it has agreed definitively to merge with Chicago-based Archipelago Exchange (ArcaEx) and form a new publicly traded, for-profit company known as NYSE Group. This announcement was followed two days later by NASDAQ®, which independently announced a definitive agreement to purchase Instinet Group.

Archipelago and Instinet are innovative e-trading (electronic trading) companies, and formerly were the two largest American rivals to NYSE and NASDAQ, in recent years taking increasingly large portions of their market share. The Securities and Exchange Commission (SEC) and other regulatory agencies still have to review and approve the transactions, particularly with respect to US securities law and antitrust law, in order to ensure that the marketplace remains lawful and competitive.

Other pending issues for NASDAQ include obtaining the approval of Instinet shareholders, as well as customary closing conditions. NYSE must obtain the approval of its members and Archipelago shareholders.

These changes, a reaction to increased e-trading competition and a changed regulatory environment, will result in NASDAQ and NYSE trading each other’s shares and attempting to grab market share, which many hope will drive down transaction costs and ultimately benefit consumers. However, at least one commentator, Dan Ackman writing in Forbes, has noted that the trading commission at the NYSE currently averages less than a nickel (US$0.05) per share, and was less enthusiastic about potential efficiency gains from electronic trading at the exchange.

The transactions are also intended to make the two leading American stock exchanges more globally competitive with such exchanges as the London Stock Exchange, the Frankfurt Stock Exchange, the Toronto Stock Exchange, and the Australian Stock Exchange located in Sydney.

Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.

Tuesday, February 16, 2016

Yesterday, UK singer Ed Sheeran won the Grammy Award for Song of the Year for his song Thinking Out Loud from his album × ahead of Kendrick Lamar’s Alright; Wiz Khalifa’s, featuring Charlie Puth, See You Again; Little Big Town’s Girl Crush; and Taylor Swift’s Blank Space. Girl Crush won the Grammy Award for Best Country Song.

Welsh singer Amy Wadge co-wrote the song. Sheeran during the ceremony said they wrote the song on a couch in his house. In remarks to the Western Mail, Wadge said the album was already complete when they wrote the song.

Thinking out Loud remained #2 on Billboard Hot 100 for almost two months, and topped the UK rankings last year. Its video song has 969 Million YouTube views and has more than four million likes. The song also won the Grammy Award for Best Pop Solo Performance.

US singer Stevie Wonder announced the winner for the Song of the Year, and the envelope was written in Braille script. He joked about it saying “You can’t read it, you can’t read Braille!”

Along with Ed Sheeran’s first Grammy, Canadians The Weeknd and Justin Bieber won Grammy awards for the first time.

Saturday, October 27, 2007

Gay Talese wants to go to Iraq. “It so happens there is someone that’s working on such a thing right now for me,” the 75-year-old legendary journalist and author told David Shankbone. “Even if I was on Al-Jazeera with a gun to my head, I wouldn’t be pleading with those bastards! I’d say, ‘Go ahead. Make my day.'”

Few reporters will ever reach the stature of Talese. His 1966 profile of Frank Sinatra, Frank Sinatra Has a Cold, was not only cited by The Economist as the greatest profile of Sinatra ever written, but is considered the greatest of any celebrity profile ever written. In the 70th anniversary issue of Esquire in October 2003, the editors declared the piece the “Best Story Esquire Ever Published.”

Talese helped create and define a new style of literary reporting called New Journalism. Talese himself told National Public Radio he rejects this label (“The term new journalism became very fashionable on college campuses in the 1970s and some of its practitioners tended to be a little loose with the facts. And that’s where I wanted to part company.”)

He is not bothered by the Bancrofts selling The Wall Street Journal—”It’s not like we should lament the passing of some noble dynasty!”—to Rupert Murdoch, but he is bothered by how the press supported and sold the Iraq War to the American people. “The press in Washington got us into this war as much as the people that are controlling it,” said Talese. “They took information that was second-hand information, and they went along with it.” He wants to see the Washington press corp disbanded and sent around the country to get back in touch with the people it covers; that the press should not be so focused on–and in bed with–the federal government.

Augusten Burroughs once said that writers are experience junkies, and Talese fits the bill. Talese–who has been married to Nan Talese (she edited James Frey‘s Million Little Piece) for fifty years–can be found at baseball games in Cuba or the gay bars of Beijing, wanting to see humanity in all its experience.

Below is Wikinews reporter David Shankbone’s interview with Gay Talese.

Wednesday, December 5, 2007

Once you get a chance to talk to West Palm Beach, Florida native Whitney Cunningham, who placed seventh on the eighth cycle of the popular reality TV series America’s Next Top Model, you begin to understand what host Tyra Banks meant when she described her as the “full package.”

First of all, she is confident and headstrong, which is a must on these kinds of shows, almost as much as it is to take a beautiful modelesque picture. Second, she turns that confidence into drive. She has been receiving steady work as a model since leaving the show, and still believes that her goal of being the first woman to wear a size ten dress on the cover of Vogue is in reach. Third, and probably most important to television viewers, she obliterates the age-old model stereotype that to be pretty and photograph well, one must also be vapid and without a thought. A graduate of Dartmouth College, Cunningham also dreams of becoming a writer, and is working toward dual goals: a model who can express herself like no other model before her.

Cunningham recently sat down with Wikinews reporter Mike Halterman in an impassioned interview, taking hours to field questions from the reporter as well as from fans of America’s Next Top Model. Always in high spirits, Cunningham shows that she is a distinct personality who has carved her own niche in the Top Model history books. At the same time, she exhibits a joie de vivre that is oddly reminiscent of earlier Top Model fan favorite Toccara Jones, who showed America just how to be “big, black, beautiful and loving it.” However, Cunningham is quick to remind everyone that she isn’t big at all; she is simply a regular woman.

This is the first in a series of interviews with America’s Next Top Model contestants. Interviews will be published sporadically.

Saturday, July 19, 2008

This year’s Leisure Taiwan trade show (a.k.a Taiwan Sport Recreation and Leisure Show) started yesterday, with 131 companies participating including sports media companies such as ESPN and VideoLand Television, businesses selling sports equipment and fitness clubs.

There were also a variety of sports being played in the arena built for the trade show. The events included a 3-on-3 basketball tournament, free style shooting, and bicycle test-riding. In addition, conferences discussed issues related to sports and physical education.

A major topic in the trade show was energy-efficiency and, as a result, bicycles and similar sports equipment were being heavily promoted.

Next Tuesday, companies from the electronics industry plan to promote their industry at “2008 Digital E-Park.” In previous years, organizations from the electronics industry have showcased their products at Leisure Taiwan instead of at the Digital E-Park, so this move has reduced the number of markets covered by Leisure Taiwan.

Sunday, January 25, 2009

Prime Minister Manmohan Singh received a successful coronary artery bypass surgery and was recuperating well in the state-run All India Institute of Medical Sciences (AIIMS) Sunday.

Dr. Manmohan Singh is the 17th and current Prime Minister of the Republic of India. He also serves as the Union Minister for Finance, succeeding P. Chidambaram.

“The 76-year-old Prime Minister is doing fine now. He is conscious, stable, comfortable and is making rapid progress. He also met his family and congratulated all doctors. [His] ventilator has been taken off and he is breathing on his own. This is an important step,” said Dr. Ramakant Panda, one of the surgeons, after the 11-hour procedure on Saturday.

According to critical care specialist Dr. Vijay D’Silva, who has been entrusted with his post-operative care, Singh has been given a liquid diet since morning including a cup of tea, and was speaking to doctors after the procedure. “The way you [doctors] are taking care of me, you should also take care of other people”, Dr. D’Silva, who received his basic medical training in Nagpur and headed the ICU at Mumbai’s Jaslok and Lilavati Hospitals before he helped set up the ICU at the ultra-modern Asian Heart Institute, quoted Singh as saying.

“We started the operation at 7:45 am. The second operation always takes longer and makes it difficult to reach the heart. We did a total of five by-passes to clear multiple blockages in his arteries. Surgery was the long term answer since there were many blockages. We will take the PM out of the breathing machine in the next 2-3 hours and the PM should stay for three days in the ICU and then 4-5 days more in the hospital,” Drs. Panda and D’Silva explained.

Singh’s personal physician and AIIMS cardiac surgeon, Dr. K. S. Reddy, has predicted the PM will be allowed to attend to some official work in two weeks, to most of the duties in four weeks and will be able to resume office in six weeks. “PM was sent to the Operation Theatre at 6:40 am, surgery was done at 8:45 am and was concluded at 7:30 pm. PM was sent back to the ICU at 8:55 pm,” said Dr. Reddy.

“The team has brought about 20 boxes of special equipment with it. Earlier, Dr. K. S. Reddy had discussions with Dr. Panda in connection with the line of treatment to be followed,” the team of 11 doctors said.

The team of surgeons made a 6 to 7 inch incision along the scar that marked the PM’s 1990 bypass operation, and he was given five grafts. “The new grafts, all 3 mm long, will last the PM the rest of his life,” said Dr. Pradyot Kumar Rath from the Asian Heart Institute. “If the PM could have been so active with all the blockages, he can be even more active now,” Dr Panda said.

Singh underwent a coronary angiography at the AIIMS hospital on Tuesday and Wednesday and was discharged on Thursday. The tests results revealed multiple arterial blockages and Singh returned to hospital on Friday for pre-surgery tests.

External Minister Pranab Kumar Mukherjee, age 73, has been given the charge of Finance Ministry after he held meetings with Congress President Sonia Gandhi and then Prime Minister Singh. Mukherjee said he would meet the Prime Minister because he was going for treatment and when he was abroad, Singh was in hospital. “These are quite natural things. You should not be unnecessarily worried over and coming here in large numbers,” he said.

Mukherjee has also taken charge over some prime ministerial responsibilities, while Singh recovers, officials and media reports said. But no acting prime minister has been named while Singh is recuperating. Mukherjee will also preside over Cabinet meetings and will further handle coal, environment and forests, including information and broadcasting and finance portfolios.

Pranab Kumar Mukherjee, a native of West Bengal, India, is the Minister for External Affairs of India in the Manmohan Singh-led Government of India. A prominent leader of the Indian National Congress in the 14th Lok Sabha, he is known to be a competent party apparatchik, “a prominent Gandhi family loyalist who did not win a popular election until 2004”.

Singh, a diabetic, underwent a bypass surgery in Britain in 1990 and had an angioplasty in 2004 in Delhi in which stents were introduced in his arteries. He had earlier been operated for a benign enlarged prostate in 2007, and for nerve compression in both wrists in 2006 and cataract removal procedure last year, officials said.

The Congress Party, which leads the coalition Government, has said that he will remain Prime Minister if Congress and its allies win again. But Congress is reportedly planning to replace him, possibly within two years, with Rahul Gandhi, the 38-year-old son of Sonia Gandhi, the Italian-born Congress leader. “Days are not far off for Rahul Gandhi to become Indian Prime Minister,” Mr Mukherjee said earlier this month.

Rahul is an Indian politician and member of the Parliament of India, representing the Amethi constituency. He is a member of the Nehru-Gandhi family, the most prominent political family in India. He is the son of current Italian-born Congress President Sonia Gandhi, and former Prime Minister Rajiv Gandhi, who was assassinated in 1991. Gandhi was 14 years old when his grandmother, Prime Minister Indira Gandhi, was assassinated by her security guards. His great-grandfather, Jawaharlal Nehru, was the first Prime Minister of India, and his great-great-grandfather Motilal Nehru was a distinguished leader of the Indian independence movement.