US rivals back bail out package: related news

US rivals back bail-out package

US politicians have agreed the details of a $700bn Wall Street bail-out package to be sent to Congress for approval, a Republican negotiator says.

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.

US agrees to Wall Street bail-out

A leading US senator says both parties in Congress are in agreement on the outline of a $700bn (£380bn) bail-out plan to revive the finance sector.

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.'"

HSBC chief hits at state bank bail-outs

The government-sponsored bail-outs of western banks risk rewarding management teams for failure and could distort the market, Michael Geoghegan, chief executive of HSBC, warned Monday in comments that reflected deep frustration at the UK bank, which, despite suffering heavy losses in the US mortgage market, has weathered the credit crisis in better shape than many of its rivals. However, HSBC executives acknowledged the rescues in the US and Europe were necessary to stabilise the banking system and restore credit flows. Geoghegan spoke as HSBC signalled in its Q3 trading statement that recovery in its US consumer finance division might take longer than the three years it initially forecast. Its bad debt charges in the US rose 24% over the previous quarter to $4.

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

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.

State bail-out looms for Italian banks

Italian banks will need a capital injection of more than €21bn ($26.1bn) to bring their financial strength into line with their European competitors in the wake of the global banking crisis, according to a report by Italian investment bank Banca Leonardo. Italy’s banks are becoming increasingly resigned to accepting a government bail-out package expected to be announced soon, after weeks of resisting any interference from the state. They have little exposure to “toxic� assets, but their capital ratios are low compared to banks in countries such as Germany and France, which have taken drastic steps to recapitalise their banking systems. The aid package could total an initial €15bn to €20bn, in the form of a mandatory convertible bond issue that banks could use to boost their core tier one capital ratios, a key measure of the so

US senators to vote on bail-out

The US Senate will vote on Wednesday on a version of a financial rescue package after the House of Representatives rejected the $700bn (£380bn) plan.

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.

House votes down bail-out package

The US House of Representatives has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

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.

Stoke City are reportedly back in the market for Ghana international Haminu Dramani - a deal first reported on The Oatcake at Rivals back in the summer...

Manager Tony Pulis is reportedly back in the market for African sensation Haminu Dramani when the January transfer window opens - a deal that initially was sought back in the summer, but terms failed to be agreed and the transfer subsequently fell through.

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.

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."

Bush warning over bail-out delay

US President George Bush has warned politicians of 'painful' consequences after his bail-out plan was defeated.

Wall Street bail-out goes to vote

The lower house of the US Congress has begun voting on a $700bn (£380bn) plan to bail out Wall Street.

Google Pushes Back Against US Copyright Treaty

Hugh Pickens writes "Internet companies led by Google joined groups representing Web users to challenge the Bush administration's bid to toughen international enforcement against copyright pirates. The companies said the US courts and Congress are still working out the correct balance between protecting copyrights and the free exchange of information on the Web and a treaty could be counterproductive. 'There's this assumption that what is good for Disney is what's good for America, but that's an oversimplification,' said Jonathan Band, an intellectual property lawyer representing libraries and high-tech companies. 'There's also what's good for Yahoo and Google.' The US, Japan, Canada and other nations said last year that they would begin negotiations on an agreement aimed at cracking down on counterfeiting of such goods as watches and pha

How Paulson forced bail-out on the banks

There's some fascinating detail in today's Wall Street Journal on how US Treasury Secretary Hank Paulson strong-armed America's big banks into signing up for the bail-out plan.

'Great progress' in US bail-out

US congressional leaders say they have reached the broad outline of a rescue plan for the American financial system.

US Senate backs new bail-out bill

The Senate has approved a new version of a $700bn (£380bn) rescue plan for the troubled US financial system.

US rivals spar in first TV debate

US presidential rivals Republican John McCain and Democrat Barack Obama have attacked each other over foreign policy and the economy, in their first debate.

How US Schools' Culture Stifles Math Achievement

Zarf writes "I'd like to file a bug report on the US educational system. The New York Times reports on a recent study that shows the US fails to encourage academic talent as a culture.'"There is something about the culture in American society today which doesn't really seem to encourage men or women in mathematics," said Michael Sipser, the head of M.I.T.'s math department. "Sports achievement gets lots of coverage in the media. Academic achievement gets almost none."' While we've suspected that the US might be falling behind academically, this study shows that it is actually due to cultural factors that are devaluing the success of our students. I suspect there's a flaw in the US cultural system that prevents achievement on the academic front as valuable.

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