Friday 6 November 2009

The Western Qurna 1 theme.



The Western Qurna 1 theme. The meeting of G-20 financial ministers in Fairmont St Andrews Hotel seems to be reading my notes regularly. How possible this hornet’s nest reaction if this is wasn’t true? This is that kind of bound which normally upset more than one person. Even though the “work” gathers momentum nicely, I should go over my routine “tasks” with a fine tooth comb to avoid later the “habitual” and needless frustrations. The Gentleman’s may not realize it (see in the text the adjective used), but my problem has driven a wedge between me and my “associate/co-worker”. More yet, if I was dreaming tonight with inflated face of some russian dog.

GM's Europe chief to quit after Opel U-turn. November 6, 2009 -- Updated 1516 GMT (2316 HKT) Berlin, Germany (CNN) -- The president of General Motors Europe, Carl Peter Forster, plans to resign in the wake of GM's decision this week not to sell its European wing, a source told CNN on Friday. Forster will leave in the coming days, said the source, who declined to be named because the resignation is not yet official. German media speculated that GM executive Nick Reilly could take Forster's place. The source said it is likely Reilly could take over in the interim, but that GM may seek a manager from outside the company to head the division in the long term. General Motors announced this week that it has decided to keep its European Opel unit, canceling its planned sale to Canadian firm Magna. Forster had been a strong supporter of the Magna deal and had criticized GM's U.S. management for letting the deal fall through. The GM board of directors said an improving business environment over the past few months and the importance of Opel and its British brand, Vauxhall, to GM's global strategy were reasons to keep Opel. The deal was a setback for Magna and the German government, which had brokered the deal. The German government loaned Opel $2.1 billion this year to assist with completing the sale. At the same time, 65 percent of Opel's stock was transferred into a trust controlled jointly by representatives of GM and the German government. The German government has demanded that GM return the money by November 30.

Obama calls job losses ‘sobering’. November 6 2009 17:15. US president Barack Obama sought to allay growing concerns on job losses on Friday, signing a bill extending unemployment benefits, as the jobless rate hit a fresh 26-year high. The unemployment rate shot up by a greater-than-expected 0.4 percentage points to 10.2 per cent in October and the economy lost an additional 190,000 jobs, according to official data released on Friday. Mr O’Bama called the numbers “sobering” and said his administration would continue its efforts to stem job losses. “I can promise you that I won’t let up until Americans who want to find work can find work,” he said in the White House’s Rose Garden, announcing that he had signed a bill that would extend unemployment benefits, which he said would cover an additional 700,000 people. The numbers come only a week after the White House said the $787bn economic stimulus has directly created or saved 640,000 jobs. But while job are being lost at about a quarter of the pace of their January height, the data were worse than economists’ expectations of 175,000 jobs lost and a 9.9 per cent unemployment rate. ”The bottom line is that although labour market deterioration is clearly not occurring at the pace suffered late in 2008 and early this year, conditions remain brutal,” said Joshua Shapiro, chief US economist at MFR. ”Moreover, we continue to believe that the healing process will be a slow one, and that households will be contending with weak income growth and balance sheet issues for some time.” In depth: US downturn The effects on the US real economy: job cuts, rising insurance premia and the prospect of deflation The worse-than-expected numbers come at an inconvenient time for the Obama administration, which has been struggling with critics who contend that it has not done enough to slow rising unemployment, even as the economy has returned to growth. “Finding employment for the 15.6 per cent of those aged 20 to 24 and 10.8 per cent of those between 25 and 34 — both key demographic groups partially responsible for the president’s electoral success — should be a priority,” said Joseph Brusuelas, director of Moody’s Economy.com. “Perhaps a time-out is in order in the debate over healthcare, so the president’s political capital can be used to address problems in the labour market.” Economists remain worried that the end of the stimulus spending could put further pressure on the job market, leading to a “jobless recovery” even more severe than that of the past two recessions. October marks the twenty-second consecutive month of job losses in the US. Since the start of the recession in December 2007, 8.2m Americans have lost their jobs. August and September’s numbers were revised upward, showing 91,000 fewer jobs were lost than originally thought. Particularly hard hit were manufacturing, construction and retail trade. The manufacturing sector lost 61,000 jobs, even after a business survey earlier this week unexpectedly showed manufacturing employment growing for the first time in 14 months. Construction lost 62,000 jobs in October and retail trade lost 40,000. The unexpected jump of 0.4 percentage points from September came as an additional 31,000 people left the labour force, a number which would normally hold the unemployment rate down. The number of people who are unemployed, who are working part-time because they can’t find a full-time job or who have stopped working because they are discouraged rose to 17.5 per cent from 8.8 per cent at the start of the recession. Economists had expected unemployment to peak at 10.3 per cent in early 2010. The Federal Reserve, which was slow to recognise the severity of the labour market downturn, now predicts that unemployment will remain at above 8 per cent until the end of 2011, three percentage points higher than it was at the start of the recession. Indeed, figures released on Thursday showed US labour productivity surging at the fastest rate in six years, spurred in part by companies cutting back on their payrolls. The increase in productivity is likely to put further pressure on the labour market, as businesses are able to eke out more from their current workers.

Al menos un muerto en un tiroteo en la ciudad estadounidense de Orlando. El alcalde de la ciudad anuncia que el sospechoso del ataque, un ex trabajador, ha sido detenido.- Hay cinco heridos, según la policía ELPAÍS.com 06/11/2009. Al menos una persona ha muerto y cinco han resultado heridas durante un tiroteo en Orlando, en el estado norteamericano de Florida, ha confirmado la policía local. El incidente se produce un día después del ataque de un oficial militar en una base de Tejas, que dejó 13 fallecidos. El incidente ha ocurrido en el piso ocho de un edificio de oficinas del centro de la ciudad. La policía de Orlando ha identificado al sospechoso como Jason Rodríguez, un ex empleado de 40 años que trabajaba en ese edificio, según testigos. Según el alcalde de la ciudad, el hombre ha sido detenido por un comando de la policía especial en la casa de su madre en el este de la ciudad. Rodríguez, de origen puertorriqueño, trabajaba anteriormente en la empresa Reynolds, Smith y Hills, de consultoría de transporte con filiales a nivel nacional y entre sus clientes están a la Agencia Espacial y el Departamento de Defensa, según la sargento. El sospechoso se declaró en bancarrota este año, de acuerdo con documentos judiciales.

No comments: