US government bails out insurer: related news

US government bails out insurer

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

ACLU Creates Map of US "Constitution-Free Zone"

trackpick points out a recent ACLU initiative to publicize a recent expansion of authority claimed by the Border Patrol to stop and search individuals up to 100 miles from any US border. They have created a map of what they call the US Constitution-Free Zone. "Using data provided by the US Census Bureau, the ACLU has determined that nearly 2/3 of the entire US population (197.4 million people) live within 100 miles of the US land and coastal borders. The government is assuming extraordinary powers to stop and search individuals within this zone. This is not just about the border: This 'Constitution-Free Zone' includes most of the nation's largest metropolitan areas.'"

Australian Internet Filters Have No Real Opt-Out; Only Opt-In To Fewer Filters

We've covered the long history of Australian politicians looking to set up their own censored internet "to protect the children" (of course). The plans have changed over time, but the end goal has always been the same: to force ISPs to block a list of sites provided by the government. In the latest incarnation, the plan supposedly included an "opt-out" option, where a web surfer could specifically ask to opt-out of the filters (effectively asking someone to sign up for a "porn-surfing license"). That, on its own, might scare some people off, but now it turns out that the opt-out isn't really an opt-out. Instead, it's just opting you in to a somewhat less restrictive blacklist. Once again, this idea of mandatory filtering out of "bad" sites on the internet sets a dangerous precedent.

Government finishes negotiations on share purchase of 4 banks

The government has finished negotiations with four banks in the republic concerning the injection of extra capital and with all parties signing agreements on the amount of financing. According to the agreement, Alliance bank and Kazkommertsbank will receive over 300 million US dollars, Narodniy bank almost 500 million US dollars and BTA 2.3 billion US dollars annually. In its turn, the government will receive both simple and preference shares in the banks. The shares will be purchased at market prices in accordance with the rates quoted on the London and Kazakhstan stock exchanges. Kairat Kelimbetov noted that the “SamrukKazyna” fund is not going to interfere in the management of the banks and later, shareholders will be able to buy out the portfolio, having a state advantage.

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

How To Build a Web 2.0 Government?

UltraAyla writes "With the announcement that President-Elect Obama will record his weekly address as a YouTube video to be posted at Change.gov, questions arise as to how an Internet-fueled candidacy based in part on a platform of government openness can begin to use technology to make government transparent. Aside from popular Slashdot policies, such as Net Neutrality, how do you think government (either in the United States or elsewhere) can best utilize technology to engage the public and make government more transparent and accessible?" Reader Rick Zeman points out a related New York Times story about how Obama will have to give up some of his communications gadgets because of the Presidential Records Act. Despite that, he apparently hopes to be the first US president to have a laptop on his desk in the Oval Office.

US indicts UBS wealth management head

UBS suffered its biggest blow yet in the US investigation into its offshore banking activities for rich American clients as US authorities said they had indicted Raoul Weil, the Swiss bank’s head of global wealth management. The US Department of Justice indictment also said other senior unnamed UBS’s executives were involved as alleged “unindicted co-conspirators�. Separately, the indictment includes detailed allegations about how other, more junior, managers sought to circumvent US tax rules over a period of years. The DoJ claims Weil used the expression “toxic waste� to refer to the US business because of its acute sensitivity. In a statement Tuesday night, UBS said Weil would relinquish his duties pending resolution of the matter and said the bank was “fully committed� to continuing co-operating with the probe.

Toys "R"Us to Offer Apple iPod "For the First Time Ever"

The iPod phenomenon shows little signs of abating. A spokesperson from the giant, Wayne, NJ-based toys retailer Toys”R”Us informs us that, beginning this month, it will offer a “wide selection of Apple iPod products in all of its Toys”R”Us stores nationwide for the first time ever.” Those comments refer to the American Toys“R”Us outlets and Web sites only. Although iPods aren’t yet listed on America's Toys"R"Us Web site, they have been available through its U.K. affiliate (www.toysrus.co.uk) for well over a year. There's no word when (or if) iPods might become available in Canada through this retail channel.

SEO Services Company Pulls Out in Solidarity with Jailed Moroccan Blogger

SEO Services Company Pulls Out in Solidarity with Jailed Moroccan Blogger - Dallas SEO Services company, SEO 1 Services, has canceled its planned to open a new office in Morocco due the crackdown on political descent and online bloggers. Dallas, TX, November 14,2008 -- Dallas SEO Services company SEO 1 Services has suspended plans to open an office in the North African Kingdom of Morocco after it was news emerged that the Moroccan government had jailed a blogger for questioning government practices. Mohammed Erraji, a 29-year-old Moroccan blogger, wrote that the dignity and integrity of Moroccan citizens had been compromised by the government's practice of giving gifts, such as taxi licenses, to those who showed extraordinary loyalty to the government.

BrazAlta Announces Private Placement of US$18.6 Million in BCH Ltd. And Provides a BCH Operational Update

BrazAlta Resources Corp. ("BrazAlta" or the "Corporation") (TSX VENTURE:BRX) is pleased to announce that its oilfield services subsidiary, BCH Ltd. ("BCH"), has completed a non-brokered private placement (the "Financing") of 4,474,999 Common Shares of BCH Ltd. ("BCH Common Shares"), at a price of US$4.163 per BCH Common Share for aggregate gross proceeds of US$18,629,421. BrazAlta Resources Corp. acquired 2,282,249 BCH Common Shares and Allis-Chalmers Energy Inc. ("Allis-Chalmers") acquired 2,192,750 BCH Common Shares in the Financing. BCH intends to use the proceeds from the Financing to pay down intercompany debt to BrazAlta (US$7.4 million), interest to Allis-Chalmers with respect to the previously announced US$40 million subordinated convertible debenture (the "Debenture") (US$3.

US Elections: What direction now for US space exploration?

US CONGRESSMAN Adam Schiff was touring Pakistan in May when NASA's Phoenix spacecraft touched down on Mars. He was struck by the glowing accounts of NASA's triumph that suddenly dominated the Pakistani newspapers. "In a country where there are such deep suspicions about what the US does, there was at least one area where the reaction was uniformly positive," says Schiff, whose district in California includes NASA's Jet Propulsion Laboratory, which built Phoenix. "And it's one area where the US shows that it is capable of doing great things."

Latvian government to bail out leading bank

Latvian government to bail out leading bankRiga - Latvia's largest indigenous bank, Parex Banka, confirmed that it was seeking government help in what amounts to a partial nationalization in a surprise move on Sunday morning.

Paulson says US bail-out working

The $700bn (£494bn) US bail-out package has already "clearly helped stabilise" the financial system, US Treasury Secretary Henry Paulson has said.

19 US banks get $35B from government

WASHINGTON—At least 19 regional US banks, including SunTrust Banks Inc. and Capital One Financial Corp., accepted $35 billion in government cash as the Treasury rolled out the second half of its $250-billion package to shore up lenders and thaw frozen credit markets.

US govt may bail out troubled Citigroup

Global banking giant Citigroup has begun talks with the US government to rescue the bank after its shares plunged to a 15 year low on Friday – wiping out 50 per cent of its market value.

Shares surge on US bail-out plan

Wall Street shares have rebounded sharply after a proposed US government plan to buy billions of dollars of US banks' bad mortgage-related loans.

US government rescues insurer AIG

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

US gives Iraq $13 million to fix looted museum

The US government has announced a $13 million grant mainly to help refurbish Iraq's National Museum which was looted in the aftermath of the US-led invasion in 2003, US officials said on Monday.

US to invest directly in banks: Paulson

WASHINGTON: The US government plans to invest directly in US banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said Friday, expanding the focus of the government's 700-billion-dollar rescue plan.

US insurers can seek thrift charter to get state cash

Washington: US insurance companies trying to get access to government funding can apply for a bank or thrift charter at the same time as they apply for a cash infusion under the US government's Dh2,171.41 billion ($700 billion) financial services rescue package, two sources briefed on the matter said on Friday.

US to invest directly in banks: Paulson

WASHINGTON (AFP) - The US government plans to invest directly in US banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said Friday, expanding the focus of the government's 700-billion-dollar rescue plan.

US to invest directly in banks: Paulson

WASHINGTON (AFP) - The US government plans to invest directly in US banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said Friday, expanding the focus of the government's 700-billion-dollar rescue plan.

US to inject $125bln into major banks this week: Treasury

Nine major US banks will receive 125 billion US dollars in capital injections this week from the US government, a Treasury official said Monday.

US gives Iraq $13 million to fix looted museum

BAGHDAD, Oct 21 (Reuters) The US government has announced a 13 million dollars grant mainly to help refurbish Iraq's National Museum which was looted in the aftermath of the US-led invasion in 2003, US officials said.

US studying features of Islamic banking

(MENAFN - Arab News) The US government is currently studying the salient features of Islamic banking to ascertain how far it could be useful in fighting the ongoing world economic crisis, Robert M. Kimmitt, US deputy secretary of the Treasury, said at a press conference held at the US Embassy here yesterday.

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