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Saturday, February 5, 2005

London, UK —The quarterly G7 Finance Ministers and Central Bank Governors’ meeting at Lancaster House concluded on February 5, 2005, with the G7 failing to agree on a plan to reduce debt in developing countries. According to the Los Angeles Times, British Chancellor of the Exchequer Gordon Brown announced that he believes, “this summit will be remembered as the summit for 100% debt relief” for the 27 countries involved in the Enhanced HIPC Initiative. Ministers from other G7 countries disagreed. Brown’s so-called International Financial Facility proposal, or IFF, “would not work for the U.S,” Undersecretary of the U.S. Treasury John Taylor said to the Los Angeles Times.

The joint statement issued by the ministers in the wake of the conference stated that, “We are agreed on a case-by-case analysis of HIPC countries, based on our willingness to provide as much as 100 per cent multilateral debt relief.” The ministers did not cite a figure for the minimum amount of debt relief that would be provided.

The conference was preceded by a demonstration in Trafalgar Square on the theme of “Make Poverty History.” Nelson Mandela spoke at the demonstration, attended by an estimated 20,000 people, according to World Development Movement, an organization involved in the planning of the event. Chancellor Brown invited Mandela to address the G7 on February 4, 2005, which he did in a “fireside chat,” according to Larry Elliott of The Guardian.

The G7, or ‘Group of Seven,’ is a coalition of seven major industrial democracies: the United Kingdom, France, Germany, Italy, Japan, the United States, and Canada. They hold quarterly meetings to discuss financial matters.

Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Sunday, December 9, 2007

Early afternoon saw a shooting in the church parking lot of New Life Church, an Evangelical Megachurch, in Colorado Springs, Colorado, United States. According to a report quoting the church’s pastor four people were shot by a gunman in the car park.

At this time it is unknown if there is any connection with yesterday’s shooting approximately 70 miles away in Arvada, Colorado, where a gunman shot two and injured two people at Faith Bible Chapel’s missionary training centre in a dormitory.

Wednesday, October 17, 2007

The American satirist Stephen Colbert has announced that he will run for the Presidency of the United States. He made his announcement on his mock news show The Colbert Report.

However, Colbert said that he would only run in his home state of South Carolina as a favorite son. He also said that he would represent both major political parties: the Republicans and the Democrats. It is not known how far Colbert will go with his character during his electoral run.

Colbert has hosted The Colbert Report, a spin-off to another satirical television series, The Daily Show, since its creation in 2005. “I didn’t have a job back then. I wonder what it was like to have a job back then. I am sure I could ask a dentist or a surgeon. He would know.” On the show he plays a right-wing political pundit, based on real-life pundits such as Bill O’Reilly and Stone Phillips. Colbert has been credited with popularizing certain words such as “Truthiness”, meaning to believe something intuitively, without regard for actual facts, logic or evidence.

Filling in for New York Times columnist Maureen Dowd on Sunday, Colbert wrote: “I am not ready to announce yet — even though it’s clear that the voters are desperate for a white, male, middle-aged, Jesus-trumpeting alternative.”

A compilation of brief news reports for Monday, July 8, 2013.

Sunday, April 3, 2005

Volunteers from across the United States and some foreign countries gathered Friday to start an unofficial border patrol project.

They converged on the town of Tombstone, Arizona to take part in what organizers call the Minuteman Project.

Many came with personal firearms, cell phones or walking canes.

Most estimates numbered the group at 400 to 450 people, recruited from the Internet, far less than the 1,300 the organizers had hoped for, but “it was enough to send a message,” according to Rep. Tom Tancredo, R-Colo.

“The federal government has walked away from this border,” he told some volunteers. He gained support and popularity for his stance against illegal immigration, but was characterized as anti-immigration in general.

“We are here to exercise what is a basic American right: free speech and the right to assemble,” he said.

Local citizens such as Luis Martinez, a third-generation Tombstone-area resident, were very unhappy with the developments. “They’ve come here to cause problems — to fight. Not to solve problems.

“I work in a ranch and all the ranchers use labor from the other side” of the border.

As Martinez fought back tears, he said he wanted to see the throngs leave Tombstone and go home.

During speeches delivered at orientation meetings, Rep. Tancredo was applauded loudly as he dismissed criticism from those who have called the volunteers racists and xenophobes. His fellow [[Republican Party (US)|Republican}}, President George Bush, described the group as “vigilantes.” Mexican President Vicente Fox used the term cazamigrantes — immigrant hunters.

Tancredo said: “We are saying to our government, ‘Please enforce the law,’ That is not a radical idea. That is not a vigilante idea. It is an American concept: the rule of law.”

Many of the volunteers, some from as far away as Italy, are bedding down in the nearby Miracle Valley Bible College for about $5 a night. Others are camping on the grounds of the run-down campus, about two miles north of the border.

Opposing sides were on the streets in Tombstone, although it appeared there was little contact or friction. Local, state and federal officers had mobilized in case confrontations arose.

James Gilchrist, a former Marine and a retired accountant from Aliso Viejo, Arizona, who ran the sign-up effort, said he expected more than 1,000 volunteers to help highlight the 30-day effort. The project’s goal is to patrol 23 miles of the San Pedro Valley, watch the border, and report illegal activity to law enforcement officials.

Many people fear that the project could result in vigilante violence. Organizers hope it causes the U.S. government to increase border patrols.

Tombstone is best known as the site of the 1881 shootout at the OK Corral.