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October 21, 2014

LMI to supply parts for new Gulfstream business jets

Filed under: canada, legal — Tags: , , , — Snowman @ 7:48 pm

LMI Aerospace has received contracts to supply bonded fuselage panels and other parts for the Gulfstream’s new business jets, the G500 and the G600.

The multiyear contracts “are expected to yield significant revenue,” the the St. Charles-based maker of aircraft parts announced Monday.

“LMI has a long and productive history with Gulfstream. We are excited to have another opportunity to work with such a valued customer on this new and innovative program,” said LMI Chief Executive Officer Dan Korte. “This program is a unique fit with our capabilities and level of expertise in the aerostructures market.”

Savannah, Ga.-based Gulfstream Aerospace Corp easy pay day loans., a unit of General Dynamics, formally announced last week these two jets, which can carry up to 19 passengers. The first flight of the G500 is scheduled for 2015, with deliveries in 2018, while the G600’s first flight could come as early as 2017, with expected deliveries in 2019, according to Gulfstream.

To accommodate the new work, LMI will add 60,000 square feet to its Tulsa, Okla., plant, and make capital improvements at Visa, Calif., facility.

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October 20, 2014

Philips posts 3rd quarter loss

Filed under: finance, loans — Tags: , , , — Snowman @ 3:32 am

AMSTERDAM (AP) — Royal Philips NV, the world’s largest lighting maker, has reported a 104 million-euro ($132 million) loss for the third quarter, mostly due to a one-off charge after losing a patent infringement lawsuit against Masimo Corp. of the U.S.

The loss compares with net profit of 282 million euros in the same period a year earlier, but includes the $466 million award a U.S. jury handed to Masimo. Philips is appealing.

Sales dipped 1 percent to 5.55 billion euros, while operating margins — before charges — declined to 9.7 percent from 11.4 percent of sales.

Chief Executive Frans van Houten, who last month issued a profit warning and announced plans to split the company, said Philips is “facing sustained softness in a number of markets,” including China and Russia.

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October 17, 2014

Renzi Plan to Shake Up Labor Market Seen Helping Italy Recovery - Bloomberg

Filed under: loans, news — Tags: , , , — Snowman @ 2:44 am

Italian Prime Minister Matteo Renzi

October 15, 2014

Man arrested, second suspect sought in Scarborough home shooting

Filed under: loans, money — Tags: , , , — Snowman @ 11:48 am

A man has been arrested and a second suspect is sought after shots were fired into a Scarborough home.

Three children, their mother and her friend were inside the Cataraqui Cres. and Warden Ave. area home last Tuesday when several rounds of ammunition from a rifle were fired from the outside. No one was injured.

Bullet holes were found in the front door, windows, interior walls and furniture.

Tevyn Rodney, 20, was arrested Friday and charged with discharging a firearm with intent to endanger life, mischief under $5,000, unauthorized possession of a firearm, and careless use of a firearm.

Police have released a photo of Justin Mohammed, 19, the second suspect in the shooting, in hopes the public will help in locating him no fax pay day loan. He is described as 5-foot-8 with a slim build and long, dark-brown/black hair. He is brown with a light complexion.

Mohammed is believed to be armed and dangerous, and police are advising anyone who sees him not to approach but to call 911 right away.

Police have not disclosed whether they believe this was a targeted attack.

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October 13, 2014

$20 Billion Property Trusts in India Delayed by Tax Rules - Bloomberg

Filed under: business, mortgage — Tags: , , , — Snowman @ 8:52 pm

The Indian government has announced rules for setting up real estate investment trusts, vehicles that may spur $20 billion of property development. None of the money will be spent unless the country

October 3, 2014

Surge of hiring cuts US jobless rate to 5.9 pct.

Filed under: Uncategorized, money — Tags: , , , — Snowman @ 10:16 pm

WASHINGTON (AP) — In a burst of hiring, U.S. employers added 248,000 jobs in September and helped drive down the unemployment rate to 5.9 percent, the lowest since July 2008.

The Labor Department’s report Friday also showed that employers added a combined 69,000 more jobs in July and August than the government had previously estimated.

The unemployment rate fell from 6.1 percent in August and is now close to 5.5 percent, which many economists consider a healthy level for the United States. The lower rate, combined with the surge in hiring, will intensify debate within the Federal Reserve on whether to raise its benchmark interest rate earlier than expected. Most economists have predicted that the Fed would start raising rates in mid-2015.

The Fed might now feel heightened pressure to raise rates to prevent a strengthening economy from igniting inflation. On the other hand, inflation remains so low — even lower than the Fed’s 2 percent target rate — that it might decide to maintain ultra-low rates well into next year to try to further strengthen the economy. The Fed’s low-rate polices have helped keep borrowing rates low for consumers and businesses.

Average hourly wages didn’t budge last month, a surprising trend in light of the healthy job growth. Joseph Brusuelas, chief economist for the consulting firm McGladrey LLP, suggested that more jobs in better-paying industries haven’t yet translated into higher pay because employers still have so many applicants to choose from.

“Policymakers will certainly be worried by the lack of wage growth,” said Chris Williamson, chief economist at Markit. “Without substantially higher wage growth, the fear is that households will pull back on consumption if interest rates and borrowing costs start rising, snuffling out the wider economic recovery.”

September’s robust hiring eased fears that a tepid job gain in August might have signaled the start of a slowdown. But the 142,000 gain that was initially reported for August was revised up Friday to 180,000. In addition, July’s job gain was upgraded from 212,000 to 243,000.

Stock prices jumped after the release of the jobs report. The Dow Jones industrial average was up 119 points in late-morning trading.

The job gains for September were broad-based and included many higher-paying industries. Professional and business services, which includes engineers, accountants and architects, added 81,000 jobs, the most in seven months. Construction companies added 16,000 jobs, manufacturing 4,000.

Government jobs, which usually pay solid wages, rose 12,000, the most in five months. Retailers added 35,000 jobs and hotels and restaurants 23,000.

The average work week rose for the first time in six months, to 34.6 hours from 34.5 in August. Sam Coffin, an economist at UBS, predicted that employers won’t be able to increase that figure much and will likely instead have to step up hiring no teletrack payday loan.

The average hourly wage, though, dipped a penny to $24.53. In the past year, the average has increased just 2 percent. That’s scarcely higher than inflation, which rose 1.7 percent in the past year. In a healthy economy, wages usually rise 3.5 percent to 4 percent a year.

Typically, a falling unemployment rate signals a likely increase in wages. The main reason is that employers have to pay more to attract the workers they need. Some Fed members have already warned that the unemployment rate is low enough to spur higher inflation.

But Fed Chair Janet Yellen has said she is tracking many other gauges besides the unemployment rate, most of which still show scars from the Great Recession. For example, there were 7.1 million people working part-time jobs last month even though they want full-time work. That figure is up from just 4.6 million before the recession.

From the Fed’s perspective, Coffin said the sluggish wage growth and tame inflation may offset solid job growth and low unemployment rate. That could keep the Fed on schedule to wait until the middle of next year to increase rates.

There are still signs of job market weakness in the other measures Yellen tracks: Among the 9.3 million unemployed, 3 million have been out of work for more than six months. That figure has declined in the past three years but is still more than twice its precession proportion.

And a broader measure of unemployment that includes part-time workers who would prefer full-time jobs, as well as those who have stopped searching, is 11.8 percent. Still, that’s down from 12 percent in August and 13.6 percent a year ago.

The improved job growth comes after President Barack Obama touted his administration’s economic achievements in a speech Thursday. The economy is the top issue in voters’ minds as the November elections near.

The number of unemployed fell in September by 329,000. Most of them found jobs. But nearly 100,000 stopped looking for work. Their exodus lowered the percentage of Americans working or looking for work to 62.7 percent, the lowest proportion since February 1978.

September’s job gain means more Americans are earning paychecks and can spend more. The annual pace of economic growth is expected to remain above 3 percent for the rest of the year. Business investment is picking up, and consumer spending is growing at a steady if modest pace.

___

AP Economics Writer Paul Wiseman contributed to this report.

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September 27, 2014

The Syrian Civil War has destroyed a family’s past

Filed under: Uncategorized, technology — Tags: , , , — Snowman @ 10:28 am

BEIRUT

September 24, 2014

Amazon workers in Germany extend strike

Filed under: news, online — Tags: , , , — Snowman @ 9:40 am

BERLIN • Workers at Amazon.com in Germany have extended a strike in a long-running wage dispute into a third day and targeted a fifth distribution center.

The ver.di union called workers at facilities in Leipzig, Bad Hersfeld, Graben and Rheinberg out on a two-day strike Monday. It then extended that by a day and on Wednesday added a center in the western town of Werne to the walkouts.

Amazon employs some 9,000 people in total at nine sites in Germany.

For more than a year, the union has been pushing for higher pay, arguing that Amazon workers receive lower wages than others in retail and mail-order jobs.

Amazon says its distribution warehouses in Germany are logistics centers and employees already earn relatively high wages for that industry.

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September 17, 2014

Ebola, not Putin or terrorism, is the real threat: Walkom

Filed under: online ads, term — Tags: , , , — Snowman @ 7:24 pm

The gravest threat facing Canada and the world today is not terrorism.

Nor is it Russian President Vladimir Putin.

The gravest threat is a deadly virus known as Ebola. It is leapfrogging across West Africa at an accelerating rate.

It has killed almost 2,500 and is expected to kill thousands more.

Left unchecked, it is only a matter of time until the virus reaches North America. Given the incubation period of the disease, a traveller suffering from Ebola could pass through Canadian airport border controls without being aware he was infected and without showing any symptoms.

The World Health Organization says that up to 90 per cent of those who contract the disease will die.

The Americans have belatedly come to understand the seriousness of this epidemic. They have beefed up aid to West African nations such as Liberia and Sierra Leone.

Even cash-strapped Cuba is sending 165 medical workers to West Africa to help stop the epidemic before it crosses the Atlantic.

Yet Canada’s government treats this outbreak as a problem that has little to do with us.

“This is a major epidemic in that part of the world and we are concerned about it,” Prime Minister Stephen Harper said in July, in one of his rare comments on Ebola.

The United Nations says that $1 billion is required to bring the disease to heel in West Africa.

U.S. President Barack Obama has come up with $175 million and wants his country’s Congress to provide $88 million more.

On top of this, he is dispatching 3,000 troops to build treatment centres in West Africa. The Pentagon estimates that its role in the fight against Ebola will cost $500 million.

Canada, by comparison, is taking the cheapskate’s route.

Some research on an Ebola vaccine has been done by the Public Health Agency of Canada. The agency is also operating a small diagnostic lab in Sierra Leone.

But in total, Ottawa has so far committed only $7.5 million to fight Ebola on the ground.

That figure includes $2.5 million worth of supplies, such as rubber gloves, that the federal government already had in stock.

In the Commons Monday, opposition MPs asked why the government has not mobilized its military Disaster Assistance Response Team to West Africa.

They received no answer.

If the government were equally stingy in other areas of foreign affairs, its tepid response to Ebola might make sense.

But it is not. Ottawa has pledged $15 million to Iraq to help that country fight Islamic State militants. That alone is double what the federal government is spending on Ebola.

The federal government has also dispatched two Royal Canadian Air Force cargo planes to Iraq to shuttle weapons as well as “dozens” of military advisers.

The cost of this military component has not been made public.

Iraq is not the only conflict zone that attracts Canadian government money.

As part of its effort to contain Putin’s Russia, Ottawa is providing next-door Ukraine with non-lethal military aid (cost unknown).

Harper’s government has also promised Ukraine $220 million in economic aid to help it reduce its dependence on Russia.

On Wednesday, the prime minister vowed that Canada would support Ukraine in its efforts against Russia even if the struggle took 50 years.

But then funding conflict never seems to be a problem for politicians. As long as they are seen to be countering a recognizable human villain, money is always available.

In 2011, the federal government spent $104 million to take part in NATO’s air war against Libya’s eccentric but brutal dictator, Moammar Gadhafi.

Hotel bills alone cost Canada $11.5 million in that war, which left Libya in chaos.

The 12-year-long Afghan War against Taliban “scumbags” is estimated to have cost Canada somewhere between $14 billion and $18 billion.

To put that figure in context, the amount that Canada spent in just one year of that pointless war would be more than enough, by UN reckoning, to solve the entire Ebola crisis.

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September 14, 2014

Anti-euro party polls well in German state votes

Filed under: Uncategorized, canada — Tags: , , , — Snowman @ 2:52 pm

Updated at 11:44 a.m.

BERLIN • An exit poll indicates that an upstart anti-euro group has won seats in two more German state legislatures in regional elections.

The ARD television exit poll put support for the Alternative for Germany, or AfD, party at 10 percent or more in Sunday’s elections in the eastern states of Thuringia and Brandenburg. It won its first seats in a state legislature two weeks ago.

AfD advocates ending the euro in its current form but also has appealed to protest voters with tough talk on crime and immigration.

Other parties say they won’t govern with AfD.

It wasn’t clear whether a three-party alliance led by the Left Party, which has ex-communist roots, would have enough support to oust Chancellor Angela Merkel’s conservatives from the governor’s office in Thuringia.

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