Wednesday, May 16, 2007

The Thomson Corporation and Reuters Group PLC announced Tuesday that they have agreed to combine the two companies. The boards of both Thomson and Reuters will recommend the merger to their shareholders.

The Canadian Thomson-family holding company Woodbridge, which controls 70% of Thomson, has agreed to vote in favour of the deal and the Reuters Founders Share Company, which controls a special share in Reuters, will also support the merger.

Based on the TSX CA$46.36 closing share price of Thomson on May 14, 2007, each Reuters share would be valued at 691 pence and, therefore, the full capital of Reuters valued at approximately £8.7 billion. Cash requirements for the deal are to be provided by Thomson. Woodbridge will own approximately 53 percent of the combined company, other Thomson shareholders 23 percent and Reuters shareholders about 24 percent.

The merger arrangement will leave two separate companies that will be operated as a single entity. The boards of the two companies will be identical as will the senior executive management team. Thomson will be renamed to Thomson-Reuters Corporation, and will be listed on both the TSX and the NYSE. Thomson-Reuters PLC will list on the London Stock Exchange and the NYSE.

Reuters current CEO, Tom Glocer, will become CEO of the combined company while Thomson President and CEO Richard J. Harrington will retire at the completion of the merger.

Thomson has currently 32,000 employees worldwide, with operations in 37 countries and revenues of US$6.6 billion in 2006. Thomson’s major business operations centre around financial information and legal services, with smaller ventures in tax accounting, health care, and the scientific field. Thomson is headquartered in Stamford, Connecticut, in the United States.

Reuters is one of the world’s largest news agencies, with a total of 16,800 staff in all divisions, but derives more than 90 percent of its revenue from its financial service business. It is the merger of Thomson and Reuter’s financial services divisions that may have been the genesis of the talks. It has been suggested that both companies wanted a better economy of scale to compete with Bloomberg, the American financial services giant.

“We are enormously proud of the evolution of The Thomson Corporation and the value it has created for all our shareholders,” said David Thomson, Chairman of Thomson. “We recognize the rich history of Reuters and are committed to uphold the Reuters Trust Principles.”

The chairman of Reuters, Niall FitzGerald, expressed his satisfaction with the merger. “The shared expertise and complementary strengths of these two companies makes for a strategically compelling and financially attractive combination,” said FitzGerald in a joint press release. “I am especially proud that Reuters journalism will continue to be governed by the powerful Reuter Trust Principles of independence, integrity and freedom from bias.”

The new company is projecting efficiencies of greater than US$500 million per year, by the end of the third year after closing the deal.

Criticisms were raised by Reuters journalists, who voiced concerns in an open letter to the Reuters Founders Share Company. They worried whether or not “a reconstituted Reuters would maintain the high standards of journalism and the integrity, independence and freedom from bias that have shaped the company’s 156-year-old reputation.”

It is expected that the merger will draw the attention of regulators due to the size and nature of the transaction. “Antitrust authorities in Europe and the U.S. are almost certain to apply a more detailed and lengthy review of the acquisition than is typical, because of the limited number of companies that supply prices, data, news and financial tools,” said Simon Baker, analyst, Credit Suisse in London.

Tuesday, June 27, 2006

Australian Minister for Vocational Education and Training, Gary Hardgrave has announced the government will provide AU$15.8 million to establish an Australian Technical College in North Adelaide. The minister said the government was entering into a partnership with the Archdiocese of Adelaide and consortium of industrial and manufacturing companies.

The North Adelaide college will be located in Elizabeth and be operated as an independent non-government school. The college is one of 25 to be established across the country.

Enrolments at the college will begin in 2007 and will offer courses in areas where identified skills shortages exist in the North Adelaide region, specifically – engineering, construction, electronics and cooking.

Mr Hardgrave said that the proposed college had been popular among the North Adelaide business community. “This important initiative has been well received by North Adelaide business and industry, and will help to address skills needs and provide opportunities for those in greatest need, including a lot of Indigenous students in the region,” Mr Hardgrave said.

“The fact that this College is being led by local employers, local government and other key stakeholders, means it will be truly industry and community driven,” he said.

Australian Technical Colleges were established to cater for year 11 and 12 students who wish to do an apprenticeship as part of their school education.

The Australian Education Union has expressed a number of concerns about the model put forward by the government. In a report, they claim that trade facilities at TAFE colleges (operated by state governments) will deteriorate as funding is diverted to the ATCs. The union is also concerned that ATCs are supposed to be selective VET schools. According to the union they will have selective entry and preferential funding. It is feared that teachers will be lured away from schools and TAFE colleges to higher paid positions in ATCs.

The Education Union suggested that the government invest in schools that already offer vocational education programs.

Wednesday, February 3, 2010

Militants in north-west Pakistan blew up a fuel tanker carrying supplies to NATO forces in Afghanistan on Monday. More than ten armed men shot at the tanker and fired a rocket at the vehicle outside Peshawar city, and the driver and a passenger were injured in the attack, although no loss of life is reported.

Head of the north-western city’s administration, Sahibzada Anees, said “About ten armed people fired at a tanker carrying petrol for NATO forces and later lobbed a rocket at the vehicle, which set alight some 78,000 litres (17,000 gallons) of fuel”.

According to witnesses, the tanker was quickly in flames. The residents of the areas were successfully rescued by police and fire fighters and the blaze was brought under control. Police have launched a search operation in nearby areas, although with no success.

Nobody has yet claimed responsibility for the attack. Oil tankers and trucks bringing goods from port city of Karachi for allied forces battling the Taliban in Afghanistan have been regularly attacked. About 80% of supplies destined for the more than 113 thousand NATO troops in Afghanistan have to pass through Pakistan. The coalition forces bring 70% of supplies through Pakistan every month, from a total of two thousand truckloads.

Saturday, April 4, 2009

The Republican Party of Alaska is requesting United States Senator Mark Begich, Democrat, to resign to pave way for a new election. This request is based on the U.S. Justice Department withdrawing charges against former Senator Ted Stevens.

Stevens was originally convicted in October just before the November election. He lost the election to Begich by a narrow margin. Given that the U.S. Justice Department has dropped charges that had affected the outcome of the election, they may have re-elected Steven if it was done before the election.

According to Party Chairman Randy Ruedrich, Begich won over Stevens only because “a few thousand Alaskans thought that Senator Stevens was guilty of seven felonies.” Alaska Governor Sarah Palin, through her SarahPAC spokeswoman, agreed.

Begich indicated that he would not step down as he felt that Alaskans wanted a change and a senator that is “independent as Alaska.”

“Today, with our country in a severe recession, it’s more important than ever that we have a senator focused on fixing our economy so Alaskans have the jobs they need to support their families,” Begich also stated.

The other U.S. Senator from Alaska, Republican Lisa Murkowski, stated “In light of the good news yesterday, I am sure many of us wish we could turn the clock back to last November. Unfortunately, that is not an option.”

The US Department of Justice has asked for corruption charges against former Senator Ted Stevens to be dropped because evidence was withheld from the defense team by the original prosecutors. The Justice Department has stated that it will not retry Stevens.

In a statement, US Attorney General Eric Holder said, “After careful review, I have concluded that certain information should have been provided to the defense for use at trial. In light of this conclusion, and in consideration of the totality of the circumstances of this particular case, I have determined that it is in the interest of justice to dismiss the indictment and not proceed with a new trial.”

Stevens was convicted in October on seven felony counts of lying on senate disclosure forms about gifts, largely in the form of free renovations to his home, received from an oil service company; his conviction is thought to have been a large factor in his November electoral defeat to former Anchorage mayor Mark Begich, the current junior Senator from Alaska. Stevens immediately appealed his conviction and has maintained his innocence.

Stevens, 85, spent the six weeks leading up to the election on trial in Washington and lost just days after being convicted.

Begich’s victory was a coup for Democrats in Alaska. It also was a victory for Democrats in the Senate, who, with Begich’s win, landed 58 of the 60 votes they need to have a filibuster-proof majority.

Begich received 151,767 votes (47.77%) to Stevens’ 147,814 (46.52%). The winning margin was 3,953 votes (1.24%). Three other candidates were in the race: Bob Bird of the Alaskan Independence Party (13,197; 4.15%), Ted Gianoutsos (independent) (1,385; 0.44%) and Fredrick D. Haas of the Libertarian Party (2483 0.78%)

Thursday, January 4, 2007

Canadian PM Stephen Harper has shuffled his cabinet today.

The major change with this shuffle is Rona Ambrose, Minister of Environment, being replaced by Treasury Board President John Baird. When a reporter asked her earlier if she would be replaced she replied, “Yes — very excited.” Ambrose is the new intergovernmental affairs minister.

Vic Toews, the justice minister, is now President of the Treasury Board. Rob Nicholson, who was house leader, is now justice minister. Peter Van Loan, who was intergovernmental affairs minister, is now house leader. Monte Solberg, the immigration minister, replaces Diane Finley as Minister of Human Resources and Social Development. Diane Finley, loses the Human Resources portfolio and gets the Citizenship and Immigration ministry.

Six MPs were appointed “Secretary of State” roles, they are junior cabinet ministers. Secretary of States do not make part of the cabinet. These new Secretary of States are :

• Helena Guergis, MP for Simcoe—Grey, Secretary of State (Foreign Affairs and International Trade) (Sport);
• Jay Hill, MP for Prince George—Peace River, Secretary of State and Chief Government Whip.
• Jason Kenney, MP for Calgary Southeast, Secretary of State (Multiculturalism and Canadian Identity);
• Christian Paradis MP for Mégantic—L’Érable, Secretary of State (Agriculture) and
• Gerry Ritz, MP for Battlefords—Lloydminster, Secretary of State (Small Business and Tourism);

Marjory LeBreton who was the Leader of the Government in the Senate now also has the role of Secretary of State (Seniors).

The new cabinet still will consist of 27 ministers, 32 if you include the Secretaries.

A complete list of the new Ministers and Secretary of States is found at the Official office of the prime minister website.

Friday, August 12, 2011

Researchers at the University of Pennsylvania have developed a new treatment for a type of leukemia (chronic lymphocytic leukemia) that uses a patient’s own immune system to fight cancer cells. Scientists extracted the blood from three male patients, all of whom suffered from advanced leukemia. They inserted a gene into the patients’ T-cells (the cells normally responsible for ridding the body of foreign pathogens such as viruses), and the gene reprograms the cells to actively seek out and kill cancer cells within the blood. They then returned the modified blood to the patients.

The patients initially reported symptoms similar to those of a bad case of the flu, but the researchers pointed out that this was likely due to the body’s response to rapid cancer cell death all at once. However, once the symptoms subsided, the scientists found that two of the three patients had no signs of leukemia and the third, while still sick, showed significant improvement. Additionally, they discovered that the modified T-cells not only killed existing cancer cells, but brand new ones as well.

Though optimistic, experts say that more research needs to be done to determine if this will be a viable treatment on a large scale and warn that this therapy would not be available as an approved treatment for several more years.

Monday, February 8, 2010

Commander Ali Dizaei of London’s Metropolitan Police Service today became the most senior officer anywhere in the United Kingdom to be convicted of offences by a court. Dizaei, who was branded a “criminal in uniform” by Independent Police Complaints Commission chair Nick Hardwick, has been jailed for four years after he attempted to frame an Iraqi businessman.

It took a Southwark Crown Court jury under three hours to find Dizaei guilty of misconduct in a public office and attempting to pervert the course of justice. The charges carried a maximum of life imprisonment.

Dizaei, 47, who is head of the National Black Police Association, had gone to the Yas Persian restaurant, run by one of his friends, and taken his wife Shy with him. They then went to their car and struck up a conversation through its open window with the restaurant’s manager. During this conversation they were approached by Waad al-Baghdadi, an Iraqi website designer in his twenties. He requested that Dizaei pay £600 that he owed Baghdadi, who had constructed his website.

According to the Crown, this dispute had been ongoing for months and Dizaei had been attempting to intimidate Baghdadi. He told the Iraqi to depart when he entered the restaurant; although the businessman did, he stayed nearby and rang the 999 emergency number.

The exact content of the argument that led up to this is unclear. Dizaei and his wife testified that Baghdadi was abusive and threatening, telling the officer he would “extract the money out of your throat” while the owner of the Yas said he was “a crook basically… His history … everybody knows he’s not a good gentleman,” said owner Sohrab Eshragi. Eshragi said that the request Baghdadi leave the premises was due to concerns of trouble, claiming Baghdadi had been in a previous fight. Baghdadi denied the allegations and the court rejected Dizaei’s version of events.

While Baghdadi was making his emergency call, Dizaei arrested him and made a 999 call of his own. He requested assistence from other officers, and said that Baghdadi had assaulted him by stabbing his stomach with a shisha pipe. He maintained this account when police arrived and kept it up in written statements, but although Baghdadi was found to be carrying such a pipe examination of Dizaei’s wounds by a police doctor concluded he had inflicted them upon himself.

A Home Office pathologist questioned this finding for the defence. Dr. Nat Cary said it was based on a “fundamentally flawed approach,” and that the injuries were consistent with Dizaei’s version of events. He has helped investigate the assassination of former Pakistani PM Benazir Bhutto, and the death newspaper seller Ian Thomlinson, the latter of whom died during a G20 protest.

The Crown further alleged that Dizaei told Baghdadi “I’ll fuck your life… You think I don’t know what you do in London… I’ll find every single detail of your life in London.” The prosecution case was presented by Peter Wright QC, who has prosecuted in trials over serial murders of Suffolk sex workers and a plot to bomb transatlantic airliners. He said that Dizaei’s actions were a “wholesale abuse of power by a senior police officer for entirely personal and oblique motives.”

Judge Justice Simon said that Dizaei had committed a “grave breach of public trust” and told him “This sentence needs to send a clear message that police officers of whatever rank are not above the law.” A Crown Prosecution Service spokesman said outside the court that “He abused his power and ignored his responsibility,” and that while corruption was unacceptable in any police officer it was particularly so in a senior member of the forces. “The public should have confidence that we will prosecute anyone, regardless of their position, if they commit serious offences. We believe justice has been served for the victim and the public.”

“[I]f he [Dizaei] had been successful, Mr al-Baghdadi may have been sent to prison,” noted Hardwick. “Mr al-Baghdadi has shown tremendous strength of character throughout this case ? from the moment he was confronted by Ali Dizaei, throughout our investigation, and finally when giving evidence at court. We are grateful for the confidence he placed in the IPCC and, as a result of that, justice has been done today.”

Dizaei has been a policeman for 24 years, and at one stage was rumoured to be destined to take control of the Metropolitan Police, although the Metropolitan Police Authority may now choose to end this career. His trial, which began this month, is his second this decade. He was prosecuted in 2003 but cleared of any wrongdoing. The incident with Baghdadi was in June 2008 and Dizaei has been suspended on full pay since September of that year. Hardwick said that “The greatest threat to the reputation of the police service is criminals in uniform like Dizaei.”