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Monday, February 26, 2007

Canadian Astral Media Inc. will buy out Standard Radio Inc., which runs many radio stations in Canada. Standard Radio Inc. is the largest privately owned multimedia company in Canada.

Montreal based Astral Media Inc. will buy all of the assets from Standard Radio Inc. for about CAN$1.2-billion. Standard Radio Inc.’s 52 radio stations, and Astral’s 29, will be brought together by Astral Media Inc. This will give Astral 81 radio stations in total. This makes Astral the largest radio operator in Canada of FM and AM radio.

“With the acquisition of Standard Radio, Astral Media will not only be acquiring the best performing radio stations in the country, we will at the same time acquire a company with similar values and culture. said Ian Greenberg, President and CEO of Astral Media.

“Over the past four decades the Slaight family has built a remarkable collection of strong radio brands and has contributed meaningfully in shaping the Canadian radio industry as we know it today. We are delighted with the prospect of welcoming Standard Radio’s employees into our team.”

Gary Slaight, President and CEO of Standard Radio also commented on the deal.

“We are looking forward to becoming a part of the Astral Media family,” said Gary Slaight, President and CEO of Standard Radio. “We are pleased to see our legacy live on with a company such as Astral that has such a strong track record and commitment to its employees and to the Canadian radio and television industries.”

All of Astral’s radio stations are run in Quebec and Atlantic Canada and it also runs various television stations across Canada. Astral also has two french channels that broadcast on Sirius satellite radio Canada.

The company hopes to finalize the deal in or before April.

Thursday, August 7, 2008

Two web sites purporting to sell tickets to the 2008 Summer Olympic Games due to open in Beijing, China on Friday have been the subject of lawsuits from the International Olympic Committee in United States courts in recent weeks. The web sites, beijingticketing.com and beijing-2008tickets.com, were designed to resemble official sites and often appeared above the official sites in Google searches, and scammed some victims out of up to US$50,000 each for tickets to events such as the Opening Ceremony and swimming, which were listed despite the official Beijing ticket web site stating that tickets to all events had sold out as of July 27. The sites are believed to have taken in millions of dollars in total.

Ken Gamble, a private investigator from Sydney, Australia, believes the sites are operated by Terance Shepherd, whom Gamble has been tracking for several years in relation to other fraudulent web sites selling tickets to events such as the FIFA World Cup. According to Gamble, Shepherd’s modus operandi involves setting up the fake web sites, overselling the tickets, and then failing to produce the tickets. “The story’s always the same,” Gamble said, “it’s an ‘unfortunate mistake’ or someone has ‘let them down’. They promise a refund, which never happens, and the credit companies end up paying all the refunds.” Shepherd owns a home in the London suburb of Blackheath, although authorities believe he is currently hiding in Barbados.

On Monday, beijingticketing.com customers received an email from someone named “Alan Scott”, claiming that the site’s ticket supplier had filed for bankruptcy. The email recommended that customers should contact their credit card companies to seek refunds “immediately”, and said that the company would set up a call centre to provide assistance to its customers. However, the site has been shut down and a phone number previously listed on it has been disconnected. The company’s address, in Phoenix, Arizona, was found to be an empty office space. Visa International has stated that victims who used their Visa card to pay should be able to get their money back, but it is not yet clear whether the same will apply to all customers.

Thursday, October 28, 2010

Fifteen people were shot dead on Wednesday in the western Mexican state of Nayarit. The attack occurred in a car wash in the city of Tepic, and, according to the state attorney general, was the work of a drug cartel. All 15 killed were workers at the Gamboa car wash.

“The workers were all men; they were washing cars when the gunmen, probably members of organized crime, drove up in SUVs and started opening fire,” a spokesman for the state attorney general said on Wednesday. Pictures of the scene show bodies on the roadside with blood pooling at their heads.

The massacre, which was just blocks away from federal offices, resulted in the closure of schools and businesses in the area. It is not yet clear what the motive was behind the attack, although men who work at Mexican car washes are often spies for drug gangs.

This slaying is the third major murder in six days. On Friday, cartels killed fourteen people and wounded a nine year-old boy in Ciudad Juarez, a major battleground for fighting drug cartels. Two days later, hit men killed another 14 people in Tijuana. Both cities are major cities on the United States border; however, Nayarit is a quiet resort state that has largely been free of drug violence until now.

Wednesday, March 5, 2014

In the past few days, tension has been increasing due to conflict between Ukraine and the Russian Federation which has led to the United States, the United Kingdom, and France increasing pressure on Russia to remove their troops from Crimea.

Wikinews interviewed specialists in Russian foreign policy and specialists in international law about the legality of Russia’s actions and the consequences of any sanctions imposed by G7 nation economies.

Tuesday, March 13, 2007

Just two weeks after China sent global markets into a tumble, growing worries about sub-prime mortgage lenders in the United States are sending jitters through stock exchanges around the globe. The three major US stock market indices each fell two percent from Monday’s closing price, marking the second-biggest loss of 2007. London’s FTSE 100, Paris’ CAC 40 and Frankfurt’s DAX 30 indices each closed down more than 1 percent.

As the Mortgage Bankers Association reported that late payments on mortgages and home foreclosures in the US homes rose in the fourth quarter to their highest level in years, investors are concerned that not only US banks but also multi-national banks around the globe could have exposure.

More than two dozen sub-prime lenders have closed or sold operations as defaults on those mortgages have risen. “The delinquencies and defaults have started to soar,” said Nicolas Retsinas, director of Housing Studies at Harvard University. “A lot of these lenders started to make loans and lost track of some of the fundamentals.”

New Century Financial Corporation, the second largest sub-prime lender in the US, has recently revealed that its creditors were no longer providing funds and, further, it has become subject of an SEC investigation. The New York Stock Exchange has said it will delist New Century. Accredited Home Loan Lending, another major sub-prime mortgage specialist, said it was seeking fresh capital and waivers on its lending covenants.

Sub-prime lenders provide mortgages to people who do not qualify for loans from mainstream lenders, typically due to their credit histories. The lenders then bundle these mortgages as collateral for loans that they obtain from other financing firms, such as GMAC. Such firms can then repackage these loans and sell them as mortgage-backed securities. These securities may end up in the hands of major multi-national banks such as Citibank, HSBC, and Commerzbank. Each level of lending assumes a level of financial risk, but trouble can arise when the risk tolerances are exceeded. If too many homeowners default on their mortgages, the sub-prime lender can end up defaulting. If too many of these lenders default, as it is feared may be happening now, the defaults can cascade upward. While no one is predicting major bank failures at this point, it is feared that their profits could be hurt.

Tuesday, June 27, 2006

Australian Minister for Vocational Education and Training, Gary Hardgrave has announced the government will provide AU$15.8 million to establish an Australian Technical College in North Adelaide. The minister said the government was entering into a partnership with the Archdiocese of Adelaide and consortium of industrial and manufacturing companies.

The North Adelaide college will be located in Elizabeth and be operated as an independent non-government school. The college is one of 25 to be established across the country.

Enrolments at the college will begin in 2007 and will offer courses in areas where identified skills shortages exist in the North Adelaide region, specifically – engineering, construction, electronics and cooking.

Mr Hardgrave said that the proposed college had been popular among the North Adelaide business community. “This important initiative has been well received by North Adelaide business and industry, and will help to address skills needs and provide opportunities for those in greatest need, including a lot of Indigenous students in the region,” Mr Hardgrave said.

“The fact that this College is being led by local employers, local government and other key stakeholders, means it will be truly industry and community driven,” he said.

Australian Technical Colleges were established to cater for year 11 and 12 students who wish to do an apprenticeship as part of their school education.

The Australian Education Union has expressed a number of concerns about the model put forward by the government. In a report, they claim that trade facilities at TAFE colleges (operated by state governments) will deteriorate as funding is diverted to the ATCs. The union is also concerned that ATCs are supposed to be selective VET schools. According to the union they will have selective entry and preferential funding. It is feared that teachers will be lured away from schools and TAFE colleges to higher paid positions in ATCs.

The Education Union suggested that the government invest in schools that already offer vocational education programs.

Thursday, August 21, 2008

Tuesday was a tumultuous day in the Khadr household as they desperately awaited to hear whether Abdullah, the Canadian family’s oldest son, would be released on bail after nearly four years of detention awaiting trial in the United States for helping Afghan militants procure weapons.

“We couldn’t help but be a little hopeful,” his older sister Zaynab remarked, though Khadr himself remained more optimistic and encouraged his family to use their second weekly visit to Toronto West Detention Centre later that day, as a sign of faith that the courts would soon reunite the fractured family. But when the family returned home from their second visit, there was a crushing message from his lawyers, “Abdullah didn’t make bail”.

The family feels frustrated and says that the court’s ruling that Khadr still represents a serious flight risk is unfair. “None of us have every tried to leave the country”, Zaynab sighs, pointing to Abdullah’s co-operation with Canadian authorities since the very beginning.

Although his lawyers proposed a “stringent supervision plan” that would have seen the Ottawa-born Khadr living with his grandparents and fitted with an electronic ankle-bracelet to track his whereabouts, the ruling released late Tuesday confirmed that Mr. Justice Gary Trotter was not convinced that Khadr would remain in Canada if released back into the community.

The ruling echoes a similar finding made in 2005, when Khadr first applied to be released pending the outcome of his extradition hearing to the United States, where he faces federal conspiracy charges.

Khadr’s lawyers appeared successful in allaying earlier concerns about the insufficient ankle bracelet that would have tracked Khadr’s movements in 2005, bringing the owner of Trace Canada, Len Beagley, to testify that “tremendous developments” had been made since the courts last heard Khadr’s plea for bail in 2005. However, Trotter seemed unconvinced that ankle-bracelets were an “accepted way of monitoring individuals”, and agreed with Crown arguments that such devices required “co-operation from the subject”.

Fatmah and Mohammad Elsamnah again offered their $300,000 Toronto home as surety for Khadr’s behaviour if released on bail. However, they were judged unacceptable guardians for their grandson, in part due to Mohammad’s stuttered and confused responses to questions from the Crown, and his advanced memory loss.

Khadr’s lawyers chose to focus on the recent community support shown at Salaheddin Islamic Centre, where his family prays. In addition to adding $50,000 in collected donations as assurance that the community would keep a close eye on Khadr, the Board of Directors agreed to pay the costs associated with the most advanced system of monitoring ankle-bracelet for Khadr. The manager of the Islamic Centre also offered to employ the 27-year old Khadr, driving him to and from work each day. Crown lawyers Matthew Sullivan and Howard Piafsky challenged the mosque’s credibility however, asking RCMP officer Tarek Mokdad to describe the number of worshippers who were later accused of militant action.

Trotter dismissed claims that the mosque was tied to terrorism, but said the donations from worshippers were unacceptable since they gave the money without expecting to see it returned to them, regardless of Khadr’s behaviour.

The last to find out about his fate, Abdullah wasn’t told the outcome of the hearing until he phoned his family Wednesday evening.