FC Bayern Munich sign Jürgen Klinsmann as new coach

Friday, January 11, 2008

Former German national coach Jürgen Klinsmann has been signed as the new Bayern Munich coach for the 2008/2009 Bundesliga season. This will mark Klinsmann’s first managerial position at club level, succeeding current coach Ottmar Hitzfeld.

Over the past few months Klinsmann was being considered for various coach positions after reforming the German national team and finishing 3rd at the 2006 Football World Cup as coach of the German national team. Previously there had been reports that he was looking at Newcastle, Chelsea, Tottenham and there also was a possibility for him to be Steve McClaren’s successor as the national coach for the English football team.

Klinsmann will be returning to the club where he played from 1995 till 1997 and won a UEFA Cup, a German league championship and a League Cup. Klinsmann’s contract will start on July 1, 2008.

Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”

Thursday, July 15, 2021

On Monday night, governor of the U.S. state of California Gavin Newsom signed a new US$262.6 billion budget bill for the state into law, with US$8.1 billion reserved for US$600 direct stimulus payments to Californians to aid in California’s recovery from the COVID-19 pandemic. The bill for the budget, SB 129, and the bill for the stimulus payments, SB 139, both passed both houses of the California Legislature for this fiscial year.

The payments, dubbed the Golden State Stimulus II, are set to be paid out to eligible California taxpaying residents beginning in September. To be eligible, residents must have filed a state tax return for last year, not be someone’s dependent, and must have earned no more than US$75 thousand in wages last year.

Eligible Californians would get a one-time payment of US$600, and households with dependents would receive an additional US$500. Around two-thirds of Californians are expected to get a stimulus payment, according to the governor’s office. Newsom initially proposed the payments in May to aid the state’s economic recovery, as part of his “California Comeback Plan”.

Californians who already received a stimulus payment earlier in the year are not eligible for this second payment. An additional payment of US$500 is still available for those who claimed dependents on their returns.

The budget also provides for US$5.2 billion in renters’ aid for low-income residents and landlords, which would pay for all rent left unpaid during the COVID-19 crisis, and cover rent for several coming months. Overdue water and utility payments would also be covered by US$2 billion in funding.

An additional US$1.5 billion was for grant money intended for small businesses, with US$120 million in tax credits for businesses willing to relocate to California.

California had a budget surplus of nearly US$76 billion during the COVID-19 pandemic.

In signing SB 129, Newsom line-item vetoed Section 19.55 of the bill concerning US$2.58 billion in appropriations to various funds “on a technical basis”, citing in an explanation appropriations covered under the section were superseded by the budget. In California, a governor may approve a bill passed by the Legislature with specific items related to the budget rejected. The Legislature can override this line-item veto with a two-thirds vote of both the Assembly and the Senate.

Sunday, June 8, 2008

To challenge the possibility of WiMAX connection on high speed rails, Industrial Technology Research Institute (ITRI) and Taiwan High Speed Rail Corporation (THSRC) started an experiment on Mobile WiMAX technology for the THSR. It’s the first-ever WiMAX experiment on high speed rails in the world. Industrial companies including Nippon Telegraph and Telephone Broadband Platform Inc., Nippon Telegraph and Telephone, Corning Incorporated, and ZyXEL are confirmed to provide solutions in this first-ever experiment.

“THSR is a must-have transportation way for the public besides of inter-city buses and railways in Taiwan.” stated THSRC. “There are three critical difficulties that this experiment should be overcome: ‘Speed of the THSR’, ‘Base station construction inside the rails’, and the most important one – ‘Internet connection on tunnels’.” stated ITRI.

“If this [difficult] experiment can be succeeded, Taiwan will become the first nation to provide the Internet connection on high speed rails in the world.” said by Moses Yen, Director of Exhibition Department of Taiwan External Trade Development Council.

Friday, May 1, 2009

The American auto company Chrysler filed for bankruptcy Thursday, however a deal with European auto maker Fiat went through. The emerging Chrysler will be owned 55 percent by the United Auto Workers, eight percent by the United States Government, two percent by the Canadian Government and Fiat would begin with a 20 percent share.

Chrysler Chief Executive Robert Nardelli will step down when the bankruptcy proceedings are finalized.

Initially, the Italian company, Fiat, will appoint three members on the emerging Chrysler’s new board, and the United States government will appoint six. Fiat can assume the majority of the ownership upon repayment of American loans.

Chrysler administrators expect that the bankruptcy should take a couple of months.

“We expect this to be a very short, 30-to-60-day bankruptcy process, during which the company will function normally,” a top administration official said, “People will be able to buy cars, they will have their warranties honored, and everything should go on normally.”

The bankruptcy filing indicated that Chrysler was in debt to 20 creditors to a tune of more than $10 million each.

Meanwhile, the deal with Fiat did go through, and Chrysler should have cars designed by Fiat out on the market by 2011.

“It’s a partnership that will give Chrysler a chance not only to survive, but to thrive in a global auto industry,” said American president Obama, “Fiat has demonstrated that it can build the clean, fuel-efficient cars that are the future of the industry.”

However, automotive analyst Erich Merkle has hesitations.

“History would show that alliances really don’t work that well,” Merkle said, “even though, no matter how good they may look on paper.”

The restructuring has been managed by Steve Rattner, a former investment banker, and the U.S. Government auto task force.

Obama has set three ultimatums before Fiat. Fiat should produce a 40 mile per gallon vehicle while managing the new Chrysler, transfer fuel efficient Fiat technology to Chrysler factories in the United States, and produce cars in Chrysler factories and distribute them in Europe.

Thursday, January 14, 2010

Wikinews interviewed author Nancy Many about her book My Billion Year Contract, and asked her about life working in the elite Scientology group known as the “Sea Org“. Many joined Scientology in the early 1970s, and after leaving in 1996 she later testified against the organization. Published in October, Many’s book has gone on to become one of the top selling new books on Scientology at Amazon.com.

Thursday, January 29, 2009

The International Labor Organization (ILO), a branch of the United Nations concerned with labor and workers’ rights issues, issued a report Wednesday explaining how the global economic crisis could create a global employment crisis by the end of the year.

“By the end of 2008 working poverty, vulnerable employment and unemployment were beginning to rise as the effects of the slowdown spread,” the report states. “If the recession deepens in 2009, as many forecasters expect, the global jobs crisis will worsen sharply.” Even for those who keep their jobs, the report predicts that “earnings and other conditions of employment will deteriorate.”

In a worst-case scenario, the ILO says 51 million jobs could be lost in 2009, meaning that 7.1% of the world’s working population would be out of a job. In a more realistic scenario, the report foresees a loss of 30 million jobs, with a global unemployment rate of 6.5%. The unemployment rate has increased in recent years, from 5.7% in 2007 to an estimated 6% in 2008.

Even the report’s most optimistic scenario for this year, a loss of 18 million jobs at an unemployment rate of 6.1%, is not much different than the ILO’s October 2008 prediction of 20 million jobs lost this year due to the financial crisis.

The report warns that developing countries in South Asia and Subsaharan Africa will be harshly affected by the economic crisis. Although working poverty – defined as having daily wages of US$2 or less – is on an overall decline, these regions are still characterized by poor working conditions, low salaries, and an insecure job market. This will only worsen in 2009, according to the ILO.

“Taking into account that a wage and salary job in poor regions may still not ensure all the components of a decent job, it becomes understandable that only a minority of working people have a job that is well paid, respects their fundamental rights and ensures some security in case of job loss, personal or family illnesses, or other difficulties.” The report says that by the end of 2008, nearly 53% of workers around the world could be in “vulnerable employment”.

In terms of actual unemployment, however, developed countries are the ones most likely to be affected by the downturn, as they are more tied to the global financial system. The unemployment rate in the European Union and other developed economies increased by 0.7 percentage points in 2008, the largest increase of all regions. “Globalization combined with rapid technological advances is another challenge for labour markets in the region,” the ILO says. “It is important for workers and employers to be ready and able to adjust quickly to change and to stiffer competition.”

Still, the unemployment rate of 6.4% in these developed countries is far less than in North Africa and the Middle East, which had unemployment rates of 10.3% and 9.4% respectively. East Asia had the lowest unemployment rate of the regions at 3.8%.

The report urged global economies to take cooperative measures, including working with the United Nations, in order to stem the economic crisis. It also asks governments to address the “negative social consequences of globalization” by placing on emphasis an social justice-based programs targeted toward women, youth, and other “vulnerable groups”.

In particular, the ILO says governments should establish public infrastructure projects such as road construction, expand health insurance and unemployment benefits, and focus on the creation of green jobs when devising their stimulus plans. “When governments design fiscal stimulus packages, it is important that they consider employment-related goals, including explicit employment growth targets,” the report concluded.

“In the world, there remains a huge untapped labour potential, and economic growth and development could be much higher if everyone was given the chance of a decent job.”