Friday, February 10, 2012

Standard & Poor’s downgraded Egypt’s currency rating for the second time in four months based on the country’s shorfall in foreign reserves and shaky political transition. It’s the latest development for a nation facing mounting economic diffuclties.

Egypt’s foreign reserves fell by over 50 percent last year to about US$16 billion. Egypt has requested US$3.2 billion from the International Monetary Fund to bolster its reserves and prevent a devalation but that could take months.

Experts say that Egypt’s problem of attracting foreign investment and tourists, which are two sources that would increase reserves, has already caused the Egyptian pound to lose 1 percent of its value and if the country doesn’t solve the shortfall in foriegn currency, it could even lead to a further currency devaluation within the next two to three months.

The long-term solution is to restore tourism and foreign investments but both are suffering because of the continuing unrest.

Thursday, March 22, 2018

On this Sunday, Sydney, Australia experienced its hottest March day in 35 years. Temperatures reached 40.5°C at Sydney Airport. This followed the two hottest March months in 1983 and 1965 whose maximum temperatures were 41.2°C and 41.1°C respectively, according to post-1940 climate data provided by Australian Bureau of Meteorology (BOM). The hot temperatures were caused by north-westerly winds which brought heat from the inside of the continent.

At the beaches any sea breeze was countered by north-westerly winds, and beach-side areas experienced 39°C. BOM reported NQ and NNW winds 20km/h to 40km/h with 40-60km/h gusts.

BOM recorded maximum temperature of 40.5°C at Sydney Airport (AP) weather station, Weatherzone reported. Wikinews obtained data from BOM that contained maximums for every 10 minutes that confirmed the maximum between 15:30 and 15:40 on the day. Wikinews also observed the temperature of 40.7C via a weather station at a residential property at 17:50 Sunday afternoon.

The present record occurred on March 18, more than a week later than the 1965 and 1983 records that had happened on the March 6 and March 9 respectively, according to the climate data published online at the BOM website.

On the hot Sunday, an out-of-control bushfire took place in Tarraganda and Tathra near Bega, southeast New South Wales. The bushfire damaged “dozens” of homes and crossed the Bega river on Sunday afternoon, The Guardian reported. New South Wales Rescue Fire Service issued an emergency warning to residents in Tathra, advising people to seek shelter.

NSW Fire Rescue Service declared total fire bans and fire weather warnings in 11 areas of the state: Greater Sydney, Greater Hunter, Illawarra/Shoalhaven, Far South Coast, Monaro Alpine, Southern Ranges, Central Ranges, North Western, Lower Central W Plains, Sthn Slopes and the Eastern Riverina.

The time is 18:00 (UTC) on May 12th, 2006, and this is Audio Wikinews News Briefs.

Sunday, August 17, 2008

Five people have been killed when two light aircraft collided near to Coventry Airport in Warwickshire, England. One of the aircraft, a Cessna 402 carrying four people, crashed near Brandon Woods whilst the other, a smaller single engine aircraft with only the pilot on board crashed a mile away near to Coombe Abbey, Brinklow.

The crash occurred shortly after 11:30 BST this morning as both aircraft were returning to land at the airport.

The Cessna aircraft is owned by the RVL Group and was based at Coventry. All of those on-board were employed by the company and were carrying out survey work for a private agency.

Colin Dennis, managing director of RVL Group, said, “Of the four people on board the aircraft, there were two males and two females. Three of them were highly-experienced full commercial pilots. Two people were operating the flight, and the third pilot was assisting in the back with survey work, with a highly skilled survey engineer.”

“It’s a very difficult time because we are a very small company, a family kind of company. It’s an absolute tragedy that they should have been killed while doing this routine work.”

Spokesman for West Midlands Ambulance Service, Murray MacGregor, said that the ambulance crews met “quite a scene of devastation”. “Sadly there was nothing that could be done other than the grim task of confirming the deaths of the five people”, he said.

Warwickshire Police, Warwickshire Fire and Rescue Service, and the Air Accident Investigation Branch have launched a joint investigation. The police have appealed for witnesses to contact them.

Tuesday, October 8, 2013

Unlike some parts of the US Federal Government, the Consumer Financial Protection Bureau (CFPB) has been open during the federal government shutdown and recording a record-low number of complaints submitted by consumers against mortgage companies, credit card companies, student loan providers, banks, money transfer providers, companies who provide credit reports, and other companies providing consumer loans.

With data not available for yesterday, the first four days of the shutdown had daily totals of 37, 16, 13, and 3 complaints. With the exceptions of September 29 with 15 complaints and September 28 with 23, it is the lowest daily total since March 16 of this year when 36 total complaints were recorded and February 23 of this year with 14. The total complaints are also down from the same dates last year, when the total complaints per day for the first four days of October 2012 were 272, 298, 288, and 225.

Of the 69 filed complaints recorded so far this month, 27 were complaints about mortgage companies, 21 were about bank accounts and 10 were about credit card companies. 40% of credit card companies complaints, 42.9% of bank account complaints and 48.1% of mortgage complaints are currently listed as still in progress. Most of the rest have been closed with an explanation.

Bank of America leads all companies in terms of total complaints filed this month with 9. Bayview Loan Servicing, LLC andJPMorgan Chase have 7 complaints each. Ally Bank, Sovereign Bank, and Wells Fargo have 4 each. Flagstar Bankand Equifax have 3 each. Citibank, Nationstar Mortgage, TD Bank, Amex, and FirstMerit Bank have 2 complaints each. 18 financial services companies have 1 complaint each filed against them.

During the government shutdown, some CFPB staff have voiced their opinions on Twitter. Dan Munz, deputy assistant director for consumer engagement at the CFPB, tweeted, “Boy, shutdown week has really created a sudden bumper crop of amateur federal management experts.”; “Also, seems like Boehner is singlehandedly undoing whatever progress he’d made in portraying this as a Dem [Democratic Party] shutdown.”; and “Basically, there’s now a strong incentive to fill legislation with minor symbolic things you can bargain away later to protect the core.”

The agency has been able to stay open during the government shutdown because it is funded by the Federal Reserve. According to Amanda Terkel at the Huffington Post, Republican members of the United States House of Representatives have put closing the CFPB on their wish list of items in negotiating for a new debt ceiling limit. Party members have previously stalled the appointment of Richard Cordray as the CFPB boss as a way of hindering it from engaging in oversight of financial organizations in the the US.

Thursday, June 1, 2006An attack against the Rashtriya Swayamsevak Sangh headquarters in Nagpur was thwarted by the Maharashtra police early today morning. The militants were driving a white Ambassador car and were armed with AK-47s. They were confronted and killed by security forces as they tried to break through the security cordon surrounding the building.

Nagpur Police Commissioner S.P.S Yadav said that the car was chased by police after it broke through the first barrier about 200 metres away from the headquarters. When confronted, the militants opened fire and were killed after a five-minute shootout. Yadav also said that two policemen had been injured in the incident, one of whose condition was serious. The identities of the three men is yet to be established. A diary was also recovered from the terrorists.

A high level security alert has been declared in Nagpur and other sensitive areas in the vicinity. R.S.S chief Ram Madhav urged the government to take more steps to safeguard the offices of the organisation. This is the second time the police has prevented a major terror attack from taking place in Maharashtra. Last month the Anti-Terrorist Squad had recovered 30 kilograms of RDX, 17 AK-47 rifles and 50 hand-grenades from a jeep in Aurangabad. Eleven suspected militants were also arrested.