Thursday, March 12, 2009

Fundraising to keep XH558,the only airworthy Avro Vulcan in the world flying have been successful. The one million pounds required to pay for licenses was successfully raised by generous sponsors.

VTST, the trust that returned the bomber to flying condition, requires £80,000 per month to cover maintenance costs and faced a shortfall due to the loss of corporate sponsorship as a result of the credit crunch.

The trust fought to keep the aircraft from being grounded or sold to a collector in the United States by turning to grassroots campaigning. This included a letter writing campaign to MPs, street collections, and the mobilisation of James Bond fans.

XH558 was returned to flying condition after 15 years of repairs and fundraising. In the summer of 2008 it flew again for the first time since its retirement in 1993.

Once a cornerstone of the United Kingdom’s independent nuclear deterrent, the Vulcan bomber has earned a sentimental place in the hearts of the general public and aviation enthusiasts alike.

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

Saturday, October 21, 2006

The upcoming 2006 Brampton municipal election, to be held November 13, features an array of candidates looking to represent their wards in city council or the council of the Peel Region.

Wikinews contributor Nick Moreau contacted many of the candidates, including Innocent Watat, asking them to answer common questions sent in an email. This ward’s incumbent is Bob Callahan; Balbir Babra, Manny Bianchi-Morfino, Dolly Khokhar, Maria Peart, Tim Turcott, and Sheila White.

Sunday, December 19, 2004

CRAIG, Alaska —Rachelle Waterman, (aka Rachelle Ann Monica Waterman and “smchyrocky”), a 16-year-old girl from Craig, Alaska, USA, has been charged with the first degree murder of her mother.

The case has rapidly received a wide following on the Internet, partly because Waterman kept a public record of her thoughts and activities on LiveJournal, a popular blogging service. The last entry, which has since been removed from public view, was posted on November 18, 2004 and read:

Just to let everyone know, my mother was murdered.

I won’t have computer acess [sic] until the weekend or so because the police took my computer to go through the hard drive. I thank everyone for their thoughts and e-mails, I hope to talk to you when I get my computer back.

A diverse group of users, both friends and strangers, have posted over 5,000 comments on the journal, positive and negative, transforming the case into an Internet phenomenon. Every entry since March 2004 has apparently now been deleted or hidden, but a ZIP archive of the entire weblog, from before the entries were deleted, is available on Deadly Blogging.

Waterman was a tenth-grade honor (A-average) student in her second year at Craig High School. She was also a member of the Academic Decathlon team (ACDC) and sang in the choir, a profile that has left many people questioning her involvement in the killing and asking what motive there might be. At the time police say the killing occurred, Rachelle Waterman was apparently playing in a volleyball tournament in Anchorage, Alaska.

Apart from the online diary Rachelle kept, the case is also unusual because matricide committed by female minors is extremely rare.

Monday, July 18, 2005

An 11-year-old girl faces serious assault charges in California after casting a stone at a group of boys who were throwing water balloons at her. In April, Maribel Cuevas was apprehended by Fresno, California police and spent five days in a detention center after throwing the object at the group of boys who bombarded her with water balloons as she walked down the sidewalk. A 9-year-old boy was hit with the stone, and suffered a wound to his head requiring medical assistance.

Since then, Cuevas has spent one month under house arrest pending court. Cuevas’ lawyer, Richard Beshwate, told the BBC that “They [Fresno police] are treating her like a violent parole offender. It’s not a felony, it’s an 11-year-old acting like an 11-year-old.”

Fresno Police Sergeant Anthony Martinez told reporters: “We responded. We determined a felony assault had taken place and the officers took the actions that were necessary.” Cuevas is due back in court next month on felony assault charges.

The girl was placed in juvenile hall during her five-day detention, with only one 30-minute visit from her parents. She was then placed under a 30 day house arrest and required to wear an electronic monitoring bracelet. The house arrest allowed the girl to attend school.

Maribel, who knows very little English, said that the boy initiated the conflict — the boy also admitted as much.

Sunday, January 10, 2010

Chinese officials have said that their country’s exports surged last December to edge out Germany as the world’s biggest exporter.

The official Xinhua news agency reported today that figures from the General Administration for Customs showed that exports jumped 17.7% in December from a year earlier. Over the whole of 2009 total Chinese exports reached US$1.2 trillion, above Germany’s forecast $1.17 trillion.

Huang Guohua, a statistics official with the customs administration, said the December exports rebound was an important turning point for China’s export sector. He commented that the jump was an indication that exporters have emerged from their downslide.

“We can say that China’s export enterprises have completely emerged from their all-time low in exports,” he said.

However, although China overtook Germany in exports, China’s total foreign trade — both exports and imports — fell 13.9% last year.

Friday, May 18, 2012

Bruce, Canberra — In an exclusive interview with Wikinews, Australian Paralympians Evan O’Hanlon and Scott Reardon discussed the increased professionalism of their sport, and the challenges elite athletes now face in securing sponsorship deals.

O’Hanlon, with the support of his Australian teammates, is on a mission to professionalise Paralympic athletics. He is leading a charge to encourage runners to cover the logos on shoes they wear to training and in competition because he believes that many people who see him in pictures when he wins world records think his shoes are paid for by sponsors; they are not.

Paralympic athletic competitors must buy their own shoes; while Australian Paralympic competitors receive support from the government, they still must pay for things their abled-bodied counterparts would not. O’Hanlon and Reardon believe unless competitors organise as a group and act together, they will not change the sponsorship landscape for Paralympic athletes.

Teammate Michelle Errichiello didn’t tape over the logos on her shoes, while O’Hanlon told Wikinews that he had taped over the logos on a pair of practice sprint shoes which he wouldn’t normally cover due to photographers being present at the athletics track. They intentionally choose the flesh colour of the tape to make it more noticed by spectators, highlighting their cause and raising its profile.

O’Hanlon told Wikinews reporters that additional information about these sponsorship issues could be found on his website.