Police say 11 people have been arrested during an anti-Wall Street rally in front of Wells Fargo Bank headquarters in downtown San Francisco. All 11 were blocking the entrance to the bank. (Oct. 12)
Continue reading …Some people are inspired by Tiger Woods. Others are inspired to throw frankfurters at him. In the case of Brandon Kelly, the 31-year-old who launched a hot dog in Tiger Woods’ direction on Sunday, inspiration also came compliments of Hollywood. “I threw the hot dog toward Tiger Woods because I…
Continue reading …Warren Buffett got back in the public fray over taxes today with a letter to GOP congressman Tim Huelskamp of Kansas. Highlights: Buffett wrote that his adjusted gross income last year was $62.8 million and his taxable income was $39.8 million. He paid $6.9 million in federal…
Continue reading …Eight people were killed and another critically wounded today when a gunman opened fire in a busy hair salon, leaving victims’ bodies scattered throughout the business in a normally sedate Southern California beach community. The gunman got into a car and drove away from Salon Meritage in Seal Beach. He…
Continue reading …When we interviewed Siri co-founder Norman Winarsky in the week before the Siri announcement, he said that Apple’s foray into ‘mainstreaming the Virtual Personal Assistant’ would be the next step in human interfaces. Keyboard, Mouse, Touch Screen, and now Voice. A World-Changing event. Make no mistake: Apple’s ‘mainstreaming’ Artificial Intelligence in the form of a Virtual Personal Assistant … Broadcasting platform : YouTube Source : 9 to 5 Mac Discovery Date : 07/10/2011 18:43 Number of articles : 6
Continue reading …• Payouts would be put on hold for undercapitalised institutions • EC president softens up bondholders up for losses of 30% Europe’s biggest banks would be barred from paying out dividends and bonuses if they are forced to raise their capital reserves to withstand future shocks, under plans put forward by the European commission to resolve the debt crisis. At the same time, banks are being softened up by Brussels to accept “haircuts”, or losses, of 30%-50% on their holdings of Greek debt rather than the current 21%. Senior commission officials are also examining ways to boost the size of the main bailout fund, the European financial stability facility (EFSF), closer to the €2
Continue reading …Notices served against BP, Transocean and Halliburton by US government over Deepwater Horizon disaster BP and its partners on the doomed Deepwater Horizon oil rig face fines of up to $45m after receiving formal notice of a series of safety violations leading up to the Gulf of Mexico disaster. In a first step of a long legal battle, the interior department said BP, rig operator Transocean and contractor Halliburton between them broke 15 rules governing offshore drilling ahead of the 20 April 2010 explosion. Eleven workers were killed and 4.9m barrels of oil were pumped into the Gulf of Mexico before the well was capped. Wednesday’s notices mark the first time the US government has gone after contractors – in this case Transocean and Halliburton – in addition to oil companies. The tactic could influence lawsuits between BP and its partners over their responsiblility. BP still faces separate penalties of up to $21bn for environmental violations. The notices have come a day before executives from all three companies are due to testify before Congress on the findings from the latest investigation. A coast guard finding last month said cost-cutting by BP and its partners were “contributing causes” of the fatal blowout. Michael Bromwich, director of the Bureau of Ocean Energy Management, Regulation and Enforcement, said in a statement that the notices of non-compliance were a first step in addressing the violations detailed in that investigation. “Companies that violate federal regulations must be held accountable,” he said. “The joint investigation clearly revealed the violation of numerous federal regulations designed to protect the integrity of offshore operations.” BP received seven of the notices, including failure to maintain control over the well, failure to prevent pollutants from leaking into the Gulf and health and safety violations. Transocean was cited four times, for failing to control the well and the blowout preventer, the last line of defence against a disaster. Halliburton was cited four times, for failure to cement the well properly and for health and safety violations. The relevant fines are capped at $35,000 a day per incident – an amount that Bromwich has in the past described as too low to be an effective deterrent. It would cap the fines on BP and the other companies at about $45m if they were held to be in violation for the duration of the 87-day spill. BP faces far stiffer penalties under the US Clean Water Act, which is assessed on the amount of oil spilled and could cost the companies up to $21bn. The companies have 60 days to appeal against the sanctions. Transocean said it would appeal. All three companies are pursuing lawsuits against one another and BP said in a statement that the notices showed its partners were partly to blame. “We continue to encourage other parties, including Transocean and Halliburton, to acknowledge their responsibilities in the accident.” BP Oil spills BP oil spill United States Suzanne Goldenberg guardian.co.uk
Continue reading …The Wall Street protesters are finally getting the attention they have been seeking, it seems. Eric Cantor, the No. 2 Republican in the House, denounced the Occupy Wall Street protests Friday as “mobs,” and Michael Bloomberg, the mayor of New York, charged demonstrators with “trying to take away the jobs of people working in this
Continue reading …The Obama administration is appealing a federal judge’s decision to let much of Alabama’s immigration law to go into effect last week by asking the 11th U.S. Circuit Court of Appeals to hear the case to block its enforcement. The Justice Department says the law will “expose persons lawfully in the United States, including school
Continue reading …Think you could survive a month in poverty without winding up broke? An innovative online game, Spent, lets you find out. The project of a North Carolina ministry and an ad agency, Spent asks users to make the kind of choices that low-income people routinely face: whether to pay the electric bill or the phone
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