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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.

The time is 18:00 (UTC) on August 27th, 2006, and this is Audio Wikinews News Briefs.

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Thursday, September 26, 2013

Tuesday, World Bank released the 2012 World Development Report on Gender Equality and Development. In discussing Iceland, it suggests mandatory paid parental leave for mother and father have played an important role in changing norms in the country. Parents have a government mandated nine months leave, three for the mother, three for the father and three to to distribute between the two. Leave is paid at 80% of their wages. The report describes the changes in gender relations in Iceland as “promising” in terms of impact at work and at home.

Iceland’s boys and girls mean scores for the Programme for International Student Assessment mathematics test were nearly identical with boys just edging out girls with both scores around 510. Girls outperformed boys on the literacy test with a mean score of approximately 525 to 480. Iceland’s girls mathematics performance was similar to that of girls from Estonia, Germany and Belgium. Their performance on literacy was similar to Sweden, Poland, Switzerland, Estonia and Belgium.File:MargretSverrisdottir.jpg

Mortality rates in Iceland for 1,000 people aged 15–60 sits at 56, significantly better than the United States at 107, China at 113, India at 213, Iraq at 285, Afghanistan at 479, Malawi at 481 and Zimbabwe at 772. One of the reasons the report cites for Iceland’s relatively low mortality rate is it not located in a conflict country or in an HIV/AIDS affected country.

Iceland was one of 23 countries that currently have over 30% of its Parliamentarians who are female. Other countries with over 30% representation include Rwanda, Argentina, Cuba, Finland, the Netherlands, and Sweden. In the mid-1990s, there were only 5 countries. The report cites the 1983 creation of the Women’s Alliance, an all women’s political party, as bringing additional attention to women’s issues and deliberately attempting to increase the representation of women in Icelandic politics.

Despite some of the good news highlighted in the report about Icelandic women, there exists a systematic gender difference in earning potential. Icelandic women in both the private and public sector earn approximately 22% less than their male counterparts. Icelandic men have slightly more access to the Internet than Icelandic women by about 2%. Despite this slight disadvantage for Icelandic women, it is much better than some countries where the percentage differences are much greater. These countries include Austria, Croatia, Greece, Italy, Portugal, Azerbaijan, Serbia, Turkey, and Macedonia.

Wednesday, December 24, 2014With the English-language Wikinews continuing to increase the amount of original content published, we take a look back at some of the eighty-plus original reports from our contributors during 2014.

Sunday, April 13, 2008

“2008 Boao Forum for Asia” started two days ago in Bo’ao, Hainan, China, and participated with government and industrial executives worldwide. Because revolutions in the Web 3.0 era have made a major impact on global economy, several elites from the Internet industry like Kai-Fu Lee provided forecasts for this key industry in the forum.

Furthermore, Vincent Siew, the vice-president elect, provided his comments in the forum. But two coalitions (Pan-Blues and Pan-Greens) declared different comments on Siew’s participation.

But due to a hot topic of environment and greenhouse effect, Rajendra Kumar Pachauri, winner of 2007 Nobel Peace Prize, commented on this forum: “There were several sectors on energy-saving, not governments, but the public should play a great role in this global warming era.”

Sunday, March 4, 2018

On Thursday in a meeting at New York Attorney General Eric Schneiderman’s office, Maria Contreras-Sweet Group, billionaire Ron Burkle, and a number of other investors acquired assets of The Weinstein Company for reportedly about US$500 million. The Weinstein Company had financial difficulties and was nearly bankrupt after Harvey Weinstein was accused of sexual misconduct by dozens of women last year, which impacted the business budget.

At least two of The Weinstein Company board of directors — consisting of Tarak Ben Ammar, Lance Maerov and Bob Weinstein — participated in the meeting, according to The New York Times. Maria Contreras-Sweet Group was represented by Maria Contreras-Sweet and Ron Burkle. The New York Attorney General Eric T. Schneiderman was also in the meeting.

Maria Contreras-Sweet Group agreed to pay The Weinstein Company’s debt, sized at US$225 million, reports indicated. The acquisition would save around 150 jobs held at the Weinstein Company. Maria Contreras-Sweet Group announced the deal, also confirmed by The Weinstein Company. The deal was expected to take about 40 days to be completed.

The agreement required Maria Contreras-Sweet Group to protect the jobs of company employees, and establish a victim compensation fund which would compensate victims of Harvey Weinstein’s alleged sexual misconduct while not rewarding the “bad actors”, as Schneiderman put it — people who had contributed to the sexual misconduct. The victim compensation fund would allegedly be around US$90 million, according to reports.

New York Attorney General Eric Schneiderman filed a lawsuit against The Weinstein Company in early February of this year. He reportly indicated he might settle the lawsuit after the deal is finalized.

Maria Contreras-Sweet Group said they would use the assets in creating a new movie studio with a majority-female leadership.

The Weinstein Company said on Monday, three days before the deal announcement, it intended to file for bankruptcy as it could not find a buyer that would keep it afloat until the deal would be finalized.

The Weinstein Company was founded in 2005.

Monday, August 8, 2005

NASA has postponed the landing of the Space Shuttle Discovery mission STS-114, planned for today.

Officials initially delayed the landing, but finally cancelled any attempts for today citing the reason as “unstable, unacceptable cloud cover [with the] potential for showers in vicinity of landing site.”

Landing the space shuttle craft has been likened to landing a “brick“. The approach to the landing field is at a steep pitch (nose up) and a high rate of descent. The shuttle is not very maneuverable and has one shot at the correct landing approach. Pilots cannot re-fire the engines to circle around for another approach, which is why low cloud cover is of such concern.

Discovery has spent twelve days in orbit. On Tuesday, there will be six landing opportunities: two each at Kennedy Space Center in Florida, Edwards Air Force Base in California, and White Sands Space Harbor in New Mexico. Shuttle managers prefer a landing at Kennedy, but will consider the alternate sites if bad weather in Florida rules out landing there. NASA administrators insist that the shuttle will land tomorrow at one of the three sites, rather than spending yet another day in orbit.

The flight marked the first time a shuttle has been inspected in orbit. The crew made two space walks to effect minor repairs to the Orbiter’s thermal protection system as a result.

Saturday, January 9, 2010

United Parcel Service (UPS), the world’s largest package delivery service, has announced that it will cut 1,800 administrative and managerial jobs.

The firm, based in Atlanta, Georgia, is to reorganise its five regions into three, and slash the number of districts to twenty from 46, in addition to the job cuts. The company currently has 340,000 people in its employ.

Economic analysts are paying considerable attention to the financial status of UPS, as many see a large connection between the overall state of the US economy and the amount of parcels shipped.

“They’re not cutting sales jobs, they’re cutting back office jobs. They take out back office, they take out cost,” commented Helane Becker, an analyst for Jesup & Lamont Securities.