News & Current Affairs

March 29, 2009

Biden appeals to G20 protesters

Biden appeals to G20 protesters

Prime Minister Gordon Brown meets US Vice-President Joe Biden (R) in Chile on Saturday 28 March 2009

Joe Biden (right) asked protesters to give G20 leaders a fair hearing

US Vice-President Joe Biden has called for G20 protesters to give governments a chance to tackle the economic crisis.

At a G20 warm-up meeting in Chile, Mr Biden said heads of state would agree proposals to remedy the crisis at next week’s meeting in London.

As they spoke, tens of thousands of protesters marched in the UK capital and in Germany, France and Italy.

US billionaire George Soros told the news the G20 meeting was “make or break” for the world economy.

“Unless they do something for developing world there will be serious collapse in that part of the world,” Mr Soros said.

Massive security operation

At a news conference in Vina del Mar, Mr Biden said he hoped the protesters would give the politicians a chance.

“Hopefully we can make it clear to them that we’re going to walk away from this G20 meeting with some concrete proposals,” he said.

British Prime Minister Gordon Brown said he understood why people were demonstrating in the UK.

“We will respond to [the protest] at the G20 with measures that will help create jobs, stimulate business and get the economy moving,” he said.

But Brazil’s President Luiz Inacio Lula da Silva told the Chile meeting that everyone was suffering from the recklessness of those who had turned the world economy into “a gigantic casino”.

“We are rejecting blind faith in the markets,” he said.

In London on Saturday, demonstrators demanding action on poverty, jobs and climate change called on G20 leaders to pursue a new kind of global justice.

Police estimated 35,000 marchers took part in the event.

A series of rallies are planned for Wednesday and Thursday by a variety of coalitions and groups campaigning on a range of issues from poverty, inequality and jobs, to war, climate change and capitalism.

There have been reports that banks and other financial institutions could be targeted in violent protests.

British officials have put a huge security operation in place.

‘We won’t pay’

Before the London summit, Mr Brown has been visiting a number of countries trying to rally support for his economic plans.

In Chile on Friday he said people should not be “cynical” about what could be achieved at the summit, saying he was optimistic about the likely outcome.

But in an interview, German Chancellor Angela Merkel dampened expectations of a significant breakthrough.

She said one meeting would not be enough to solve the economic crisis and finish building a new structure for global markets.

In Berlin, thousands of protesters took to the streets on Saturday with a message to the G20 leaders: “We won’t pay for your crisis.”

Another march took place in the city of Frankfurt. The demonstrations attracted as many as 20,000 people.

In the Italian capital, Rome, several thousand protesters took to the streets.

In Paris, around 400 demonstrators dumped sand outside the stock exchange to mock supposed island tax havens.

January 15, 2009

Go-ahead for new Heathrow runway

Go-ahead for new Heathrow runway

The government has given the go-ahead for a third runway at Heathrow, saying it is the “right” move for the country.

The decision, confirmed by Transport Secretary Geoff Hoon, comes despite opposition from environmentalists, local residents and many MPs.

Mr Hoon outlined measures to limit noise and emissions but told MPs doing nothing would “damage our economy”.

The debate was halted and local MP John McDonnell thrown out after he grabbed the mace and shouted “disgrace”.

Alongside the commitment to a new runway, Mr Hoon also announced increased investment in public transport, including the possibility of new high-speed rail links from the airport.

WHAT HAPPENS NEXT?
MPs told of decision
Planning process begins – this will take years
Legal challenge likely in days
If Tories win next election they would scrap plan
If all goes according to government plan, construction would start in 2015
Third runway due to finish 2019

In an effort to appease critics he said airlines using the new runway would be required to use the newest, least-polluting aircraft.

He told MPs the government was satisfied environmental targets could be met, as it would put an initial cap on additional flights from the new runway of 125,000, would ensure new slots were “green slots” used by only the “cleanest planes” and would set a new target on aircraft emissions – that they would be lower in 2050 than in 2005.

“Taken together this gives us the toughest climate change regime for aviation of any country in the world,” he told MPs.

He also announced he would set up a company to look into creating a high speed rail line between London and Scotland – adding there was a “strong case” for a new high speed rail hub at Heathrow.

Heathrow ‘hub’

And he said hard shoulders could be used to ease traffic on the the most congested parts of the M1, M25, M6, M62, M3 and M4, as well as motorways around Manchester, Birmingham and Bristol.

But he ruled out ending “mixed mode” use of runways – where planes land on one runway until 3pm then the other for the rest of the day to give residents a break from noise.

However, he said the Cranford agreement, which limits planes taking off to the east of the airport, would end, which he said would benefit Windsor and other towns to the west of the airport and Hatton and North Feltham to the east.

“Heathrow is the only hub airport, it’s our most important international gateway, it connects us with the growth markets of the future – essential for every great trading nation,” he told MPs.

Doing nothing would only give an advantage to its competitors, he said, adding: “The government is taking the right decisions for the long term.”

The debate was halted when John McDonnell, whose constituency borders Sipson – where hundreds of homes will be bulldozed to make way for a third runway and sixth terminal – shouted “disgrace” as the transport secretary said MPs would not get a vote on the decision.

Labour unease

After marching from the backbenches to the despatch box he picked up the mace and placed it on an MPs’ bench – he refused requests to end his protest and was ordered out of the Commons and suspended for a week.

The government has long argued, in principle, that it is in favour of the scheme, subject to pollution limits and access concerns.

But there has been deep unease within Labour ranks about the decision, with several cabinet members reported to be unconvinced and more than 50 MPs openly opposed.

At a press conference in Berlin ahead of the Commons statement, Prime Minister Gordon Brown said he wanted to “protect the economic future of the country while, at the same time, meeting the very tough environmental conditions we have set ourselves”.

Shadow transport secretary Theresa Villiers told BBC Radio 4’s Today any government environmental promises would be shown “to not be worth the paper they are written on” and said her party would cancel the project if they win the next general election.

In the Commons she said: “This is a bleak day for our environment and for all those of us who care about safeguarding it.”

The Liberal Democrats also oppose the third runway and have urged ministers to invest in high-speed rail links instead.

Their spokeswoman, Susan Kramer, told the BBC the arguments in favour of expansion were “glib” and south west London would become a “pretty miserable” place to live.

“There’s this conventional wisdom amongst business that you must grow the airport … it just isn’t held up by the reality. Actually Heathrow has been serving fewer destinations over the last ten years.”

The statement to MPs – it is not subject to a vote in the Commons – marks the start of the planning process which would be a lengthy one, even without the opposition and legal challenges expected.

Work on a new runway is unlikely to start until 2015 and it is not expected to be operational for at least a decade.

About 700 homes will have to be demolished to make way for the runway, which will increase the number of flights using Heathrow from about 480,000 a year now to 702,000 by 2030.

‘At risk’

Campaigners have bought some land earmarked for the construction of the runway in an effort to frustrate the expansion plans.

Environmental campaigners say proceeding with the new runway will leave the government’s legal commitment to cut carbon emissions by 80% by 2050 in tatters.

Energy Secretary Ed Miliband told the the plans represented “constrained expansion” with strict rules on air quality and noise.

But Greenpeace director John Sauven said: “If Gordon Brown thinks this is a green runway then he must be colour-blind. This package is designed to patch up a cabinet split and will do very little to reduce the huge environmental impact of an expanded Heathrow, which will now become the single biggest emitter of carbon-dioxide in the country.”

Supporters of the runway say Heathrow is already operating at full capacity and the UK economy will lose business to the rest of Europe if it does not go ahead.

They point out that rival airports such as Paris, Frankfurt and Amsterdam already have at least four runways and that Heathrow is at risk of falling further behind.

Former Labour MP Lord Soley, campaign director of Future Heathrow, which represents groups in favour of expanding the airport said Heathrow brought jobs and “prosperity” to west London and the Thames Valley that was “at risk”.

The boss of British Airways, Willie Walsh, said he was “very pleased” by the decision and welcomed the fact the scheme would be subject to “very strict environmental conditions”.

Virgin Atlantic’s Paul Charles told BBC Radio 5 Live that if there was no third runway “jobs won’t be created and people will go to Europe instead”.

Richard Lambert, director-general of the Confederation of British Industry, said: “This approach to expanding Heathrow’s capacity makes real sense. It will create the integrated transport system necessary for an economy that needs to grow in an environmentally sustainable fashion.”


September 7, 2008

Global economy woes shake markets

Global economy woes shake markets

Japanese stock market trader

Japanese shares felt the force of the economic uncertainty

Fears about a global economic slowdown, heightened by worsening US job figures, have continued to undermine stock markets around the world.

London’s FTSE 100 index lost 2.3% – taking its weekly decline to 7% – its biggest since July 2002.

Markets in Paris and Frankfurt fell by 2.5% as economy concerns spread.

On Wall Street the Dow Jones index clawed back early losses to edge higher despite figures showing the US economy shed 84,000 jobs last month.

But the benchmark US index still had its worst week since May.

Earlier, Japan’s main share index fell nearly 3% while markets in Hong Kong, China, Australia and India all slid 2%.

‘Ugly’ data

The US labor market figures – which showed the unemployment rate rising to 6.1% – were a further jolt to investors who have had to swallow a slew of poor economic data in recent days.

Economists had been expecting 75,000 jobs to be lost while the government also revised upwards.

“This was an ugly number that pretty much confirms that our economy continues to trend downward,” said Jack Ablin, chief investment officer of Harris Private Bank.

“This just knocks the legs out of any hope of seeing much economic improvement right now.”

‘Uncertainty’

Amid the uncertainty, few investors are willing to buy
Masayuki Otani, Securities Japan

The FTSE 100 closed down 2.3% at 5,240.70 points. The last time it lost so much value in a week was more than six years ago in the wake of financial scandals such as Enron and WorldCom.

Markets in Paris and Frankfurt continued their recent downward trend, both the Cac-40 index and the Dax-30 dropping about 2.5%.

The Dow Jones index, which lost 3% on Thursday, rose 32.73 points, or 0.3% to 11,220.96, but still ended down 2.8% on the week.

“Given the fact we were down so much yesterday we’re seeing a bit of a reflex rally with investors wanting to take advantages of some of the bargains,” said Bucky Hellwig, senior vice president at Morgan Asset Management.

The Nasdaq index slipped 3.16 points, or 0.1% to 2,255.88, ending the week 4.7% lower.

Earlier Japan’s benchmark Nikkei index fell 361.54 points to 12,196.12 amid a widespread sell-off of shares in Asia.

The Hang Seng index fell more than 3% in Hong Kong while markets also fell sharply in China, Australia and India.

“Amid the uncertainty, few investors are willing to buy,” said Masayuki, Otani, chief market analyst at Securities Japan.

“Several bad things happened at once,” he added, explaining the fall.

Gloom

Worries about inflation have prevented central banks in Europe from cutting interest rates to help forestall a slowdown.

But analysts believe this could change soon with economic forecasts across Europe looking increasingly gloomy.

The European Central Bank cut its 2009 growth forecast from 1.5% to 1.2% on Thursday while the UK economy stalled in the second quarter.

In a separate development, the Russian rouble fell against the dollar a day after Russia’s central bank intervened to support the currency amid concerns about a flight of foreign capital after the conflict with Georgia.

The central bank sold up to $4bn in reserves, the Financial Times reported, after the rouble slipped to its lowest level since February 2007.

August 13, 2008

German ice cream murders probed

German ice cream murders probed

German police examine the scene of the shooting in Russelsheim

Police could not establish a motive for the attack immediately

A huge manhunt is under way after three people were shot dead at an Italian ice cream parlour in a town near the German city of Frankfurt, police say.

The assailant or assailants fled the scene after the attack in the central pedestrian area of Ruesselsheim, 28km (17 miles) south-west of Frankfurt.

German media said the two men killed were Turkish. The woman appears to have been caught in crossfire.

Police said the motive for the attack was unclear.

Officers are using dogs and a helicopter in an effort to find the killer or killers, and have sealed off the center of Russelsheim.

Map

The shooting occurred around 2000 (1800 GMT) at the Eis de Rocco cafe, police told the Associated Press.

First reports had suggested that some of the victims might have been stabbed and that four people had been killed in the incident. A third man – also Turkish – was seriously injured in the attack.

“According to our investigations, more than one person committed the crime. They were all thought to be males, who used guns and were armed at the time of the crime. According to eyewitnesses, a knife was also possibly used,” said police spokesperson Marc Wuthe.

Almost exactly one year ago, six people were shot dead in the town of Duisburg, north-west of Frankfurt, in a shooting blamed on an Italian mafia clan.

Seven people were arrested in connection with the Duisburg deaths.

Mr Wuthe said it was unclear whether Tuesday’s shooting had any link to organized crime.

“We have no idea as to the motive behind the crime. We will investigate all avenues,” he said.

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