Toshiba troubles continue with new losses and falling sales
Japan's troubled Toshiba has posted a first-quarter net loss for the three months to June as sales fell to their lowest point in two and a half years.
The firm said in a statement that its net losses for the quarterly period were 12.3 billion yen ($102m; £66m).
It noted poor performances in its televisions, home appliances and personal computer businesses.
Last week, the Tokyo-based firm released a full-year net loss of $318m for the year to March 2015.
The full-year numbers had been delayed amid a recent accounting scandal.
In its first quarter results statement released on Monday, Toshiba said Japan's domestic economy had not shown signs of acceleration because of sluggish performance by smaller businesses that depended on domestic demand.
It also said Japan as a whole was experiencing a decrease in consumer spending due to a decline in real incomes and exports.
Japan, which is the world's third largest economy, last week announced a revised fall in private consumption to 0.7% from a previous estimate of 0.8%. The country relies on domestic consumption for about 60% of its economy.
Source-BBC
WEATHER FORECAST FOR THIS AFTERNOON AND TONIGHT MONDAY 14TH SEPTEMBER 2015
GENERAL SITUATION: A PRE FRONTAL SURFACE TROF OVER THE NORTHWEST BAHAMAS ALONG WITH TROPICAL MOISTURE WILL CREATE SOME UNSETTLED WEATHER OVER THE ISLANDS TODAY
FOR THE NORTHWEST BAHAMAS
WEATHER: PARTLY CLOUDY AND HOT WITH ISOLATED SHOWERS AND THUNDERSTORMS THROUGH TONIGHT
ADVISORY: SMALL CRAFT SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS OR THUNDERSTORMS
WINDS: EAST TO SOUTHEAST AT 10 TO 15 KNOTS FALLING LIGHT AND VARIABLE AT TIMES
SEAS: 2 TO 4 FEET OVER THE OCEAN
FOR THE CENTRAL AND SOUTHEAST BAHAMAS
WEATHER: PARTLY CLOUDY, HOT AND BREEZY WITH ISOLATED SHOWERS AND THUNDERSTORMS THROUGH TONIGHT
ADVISORY: SMALL CRAFT ADVISORY IS IN EFFECT
WINDS: EAST TO SOUTHEAST AT 15 TO 25 KNOTS
SEAS: 5 TO 8 FEET OVER THE OCEAN
DAYTIME HIGH TEMP: 91F 33C OVERNIGHT LOW TEMP: 77F 25C
SUNSET: 7:15PM SUNRISE: 6:56 AM
MOONSET: 8:09PM MOONRISE: 8:47AM
LOW TIDE: 3:23PM HIGH TIDE: 9:26PM
LOW TIDE: 3:39AM TUE HIGH TIDE: 9:46AM TUE
WEATHER OUTLOOK: RIDGING WILL DOMINATE WITH WEATHER OVER THE ISLANDS BRINGING VARIABLE CLOUDY AND BREEZY CONDITIONS
TROPICAL WEATHER OUTLOOK: A WELL DEFINED LOW PRESSURE SYSTEM LOCATED SEVERAL HUNDRED MILES WEST-SOUTHEAST OF CAPE VERDE ISLANDS IS PRODUCING MINIMAL SHOWER ACTIVITY. ENVIRONMENTAL CONDITIONS ARE EXPECTED TO BE CONDUCIVE FOR DEVELOPMENT, AND THIS SYSTEM COULD STILL BECOME A TROPICAL DEPRESSION DURING THE NEXT DAY OR TWO WHILE IT MOVES GENERALLY NORTHWESTWARD ACROSS THE CENTRAL TROPICAL ATLANTIC
German finance minister Schaeuble warns of market bubble
The global economy faces a financial bubble from central banks pumping cash into economies, Germany's finance minister has warned.
"We should take on board the lessons of the last crisis," said Wolfgang Schaeuble in his Budget speech.
He added that economic reforms should not be neglected in favour of action from central banks.
The comments come after the European Central Bank (ECB) said it would extend its stimulus programme if needed.
The ECB launched its €1.1 trillion bond-buying scheme - a form of monetary policy or quantitative easing - in January to support the eurozone economic recovery, which the bank's president, Mario Draghi, said could be extended beyond 2016 if needed.
Mr Schaeuble has repeatedly warned against an over-reliance on central bank stimulus to prop up economies.
He stressed the need for structural reforms stating: "When we call for structural reforms in return for financial assistance, this isn't some narrow-minded mantra being repeated by people who have lost sight of the big strategic questions of the future.
"In fact, this may well be the most important long-term strategic question we face today."
Hungary Blocks Migrant Entry Point
Hungary blocked its main migrant crossing point from Serbia on Monday, hours ahead of imposing tough new laws aimed at halting the massive stream of Middle East refugees headed into the country on their way to Germany and other western European countries.
Dozens of police, supported by mounted police and soldiers, stood guard on a railway track that asylum seekers had been using to cross into the European Union. A helicopter hovered overhead.
Hungarian Prime Minister Viktor Orban, Europe's most outspoken foe against allowing thousands of refugees from war-torn Syria and elsewhere into the EU, spoke at a police cadet swearing-in ceremony in Budapest.
He said the new laws against the migrants call for prison terms and the punishment for human traffickers "will be so severe that it will be really deserved."
"Hungary is a country with a 1,000-year-old Christian culture," Orban noted. "We Hungarians don't want the global-sized movement of people to change Hungary. This is not what we worked for and this is not why we battled through world wars, communism, the change of regime after communism and an economic crisis. We had and have a different concept of the Hungarian and European future. We want to live in order, peace and security. We don't want chaos."
Hungary rolled a rail container car lined from top to bottom with razor wire onto the entry point near Roszke, entirely blocking the passageway. Budapest said anyone entering illegally will face criminal charges, but it sent refugees seeking asylum to a nearby police supervised border crossing. Authorities there allowed hundreds to board buses bound for Austria.
Source-VOA
'World Is Failing Asylum Seekers', according to UN Chief
The U.N. high commissioner for human rights has condemned the failure of the international community to act to protect the hundreds of thousands of Syrians and refugees from other countries seeking asylum from war and persecution in Europe.
In opening remarks at the U.N. Human Rights Council’s three-week session in Geneva, Zeid Ra'ad al Hussein lambasted the apparent hypocrisy of a world that professes to uphold and protect the human rights of the most vulnerable by invoking the tragic image of Aylan Al Kurdi, the little boy whose lifeless body was swept ashore in Turkey, shining a light on the plight of thousands to escape violence in Syria for a safe haven in Europe.
“It made us choke. Shamed and disgraced, the world wept before the body of this little boy. These speeches, these sessions, these protests by so many of us here for a world more humane and more dignifying of the rights of all humans, all humans - what good are they, when this happens?” Hussein asked.
He commended Jordan and Lebanon in the Middle East, and Turkey, Germany and Sweden in Europe for hosting refugees and migrants needing protection. He thanked the millions of ordinary people who opened their homes. He denounced, what he called, the mean-spiritedness of some decision-makers for whipping up xenophobic hatred among their populations.
Hussein also welcomed a European Union proposal to relocate 120,000 refugees in member states and urged Europe to build on this surge of human feeling.
“We need expanded channels of regular migration and resettlement - two measures which would prevent deaths and cut smuggling. Detention, particularly of children, and all forms of ill-treatment should cease, at borders and elsewhere,” Hussein said.
The high commissioner noted that all regions of the world are guilty of atrocities and gross human rights violations. He said too many countries - in Africa, in Asia, in the Middle East, in the Americas - are getting away with crimes against their people because no one is being held accountable.
In regard to sub-Saharan Africa, Hussein expressed particular concern about conditions in seven countries – the Central African Republic, Sudan, South Sudan, Somalia, Mali, Eritrea, and Burundi. While the circumstances differed, he noted that violent and unconscionable actions in all these countries have resulted in countless thousands of deaths and injuries, and millions of people being internally displaced or forced to leave their countries as refugees.
More FIFA Indictments Coming according to US Attorney General
An investigation into corruption in world soccer that seriously implicates FIFA is widening, and more arrests appear likely.
U.S. Attorney General Loretta Lynch said Monday at a news conference in Zurich with Swiss Attorney General Michael Lauber that she expects more indictments and is hopeful the suspects will be extradited.
"We do anticipate being able to bring additional charges against individuals and entities," she said. "What I can say is that, separate and apart from the pending indictment, our investigation remains active and ongoing, and has in fact expanded since May."
There is no word yet on whether FIFA president Sepp Blatter would be targeted. Lynch did not comment on that.
Fourteen soccer and marketing officials were indicted in May by the U.S. Justice Department, and six guilty pleas were unsealed in a $150-million bribery and racketeering conspiracy.
Meanwhile, Swiss officials searched houses in western Switzerland, and seized evidence and properties in the Swiss Alps as part of a separate money-laundering investigation of World Cup bidding.
Lauber said 121 different bank accounts have been reported as suspicious by a Swiss financial intelligence unit.
Some material for this report came from AP, AFP and Reuters
THE HONOURABLE SHAMFA CUDJOE APPOINTED AS TRINIDAD & TOBAGO'S NEW MINSTER OF TOURISM
Earlier this week, the dual-island nation of Trinidad & Tobago elected a new government. In addition, the new Prime Minister, the Hounourable Keith Rowley, selected the Honourable Shamfa Cudjoe as the new Minister of Tourism.
Minister Cudjoe first entered the Parliament of Trinidad & Tobago as an Opposition Senator at the start of the 10th Republican Parliament in June 2010. One of Tobago's leading professionals in the field of International Affairs and Foreign Trade Policy, she has also served as a Trade Analyst in the Tobago House of Assembly (THA) and represented the island at various consultations and negotiations on regional integration and international trade matters. Her professional experience also includes working as an international trade consultant with the Organization of the American States (OAS) and the Inter-American Development Bank (IDB) in Washington D.C., USA. Prior to her appointment to the Cabinet, Minister Cudjoe was employed as the Assistant Director of the Youth Energized for Success Program, an initiative of the Division of Finance and Enterprise Development at the THA.
Speaking with the media following her appointment, the new tourism minister said she was pleased with her portfolio. Indicating there is "a plethora of issues" facing Trinidad & Tobago's tourism industry, Minister Cudjoe said among her first actions would be to examine the industry and consult with stakeholders before implementing policy decisions. Other areas of priority for the Minister as she assumes office include improving transportation links between Trinidad & Tobago and initiatives to improve the local tourism product.
The People's National Movement, led by Dr. the Honourable Keith Rowley, defeated the People's Partnership Government, led by former Prime Minister the Honourable Kamla Persad-Bissessar, at the general election polls on Monday, September 7, 2015, winning 23 seats to the incumbent's 18. On Wednesday, September 9, Dr. Rowley was sworn in as the seventh Prime Minister of Trinidad and Tobago. Prime Minister Rowley's newly minted cabinet will have their first meeting on Monday, September 14, 2015.
CARICOM SG looking forward to new TnT PM strengthening Regional integration
CARICOM Secretary-General Ambassador Irwin LaRocque has sent a letter of congratulations to new Trinidad and Tobago Prime Minister Dr. Hon. Keith Rowley.
"The clear cut victory of the People's National Movement (PNM) in the General Elections of 15 September, reflects the confidence of the people of Trinidad and Tobago in your leadership and your ability to guide them astutely through the inevitable challenges that the country will have to face", the CARICOM Secretary-General said.
"One of your Party's founding principles is Caribbean Unity and, in that regard, I look forward to working with you in continuing to strengthen our integration movement in the interest of the people of Trinidad and Tobago and the entire Caribbean Community," he added.
10 September 2015
Dr. the Honourable Keith Christopher Rowley
Prime Minister of Trinidad and Tobago
Office of the Prime Minister
13-15 St. Clair Avenue
St. Clair
Port-of-Spain
TRINIDAD AND TOBAGO
Dear Prime Minister
It is my pleasure to extend heartiest congratulations to you on your election to office as your nation’s leader.
The clear cut victory of the People’s National Movement (PNM) in the General Elections of 15 September, reflects the confidence of the people of Trinidad and Tobago in your leadership and your ability to guide them astutely through the inevitable challenges that the country will have to face.
Your long parliamentary career allied to the various portfolios you have been responsible for in Cabinet, has served as an ideal preparation for your current role.
One of your Party’s founding principles is Caribbean Unity and, in that regard, I look forward to working with you in continuing to strengthen our integration movement in the interest of the people of Trinidad and Tobago and the entire Caribbean Community.
I wish you all success in your term of office and you can be assured of my support and that of the staff of the CARICOM Secretariat, as we strive to ensure the sustainable development of your country and the wider Community.
Yours sincerely
IRWIN LAROCQUE
SECRETARY-GENERAL
Dr. Rowley led his party to a 23-18 victory over the People's Partnership of former Prime Minister Hon. Kamla Persad-Bissessar in Monday's general elections and was sworn into Office on Wednesday.
GOVERNOR MOURNS PASSING OF DR CONRAD HOWELL
His Excellency the Governor, Peter Beckingham, issued the following statement following the death of Dr Conrad Howell over the weekend.
" I was deeply upset to learn of the untimely passing of Dr Conrad Howell at the weekend. A beacon of light in TCI has been extinguished, and I join the Premier, leader of the opposition and many others in mourning his tragic death. His passing is in every respect a bleak day for the Turks and Caicos Islands.
" As I said to Conrad Howell's wife in a note to her on Saturday, I had the good fortune to meet Conrad on several occasions. His good humour and wit were much in evidence, even when we were the most friendly of sparring partners on his hugely popular radio broadcast. I also mentioned to Mrs Howell how struck I was by Conrad's powerful presence at the National Hero's Day commemorations just a few months ago in Grand Turk.
" Our country has this weekend lost one of its own national heroes, whose contribution to religion, broadcasting, education and the community at large will be deeply missed. But at least his presence will stay with us forever in the beautiful words of the National Hymn."
The Premier, the Opposition and citizens of the Turks & Caicos islands have been pouring out heartfelt condolences over the weekend following the news.
PDM ON THE PASSING OF THE REV CONRAD HOWELL
The Turks and Caicos mourns the loss of the Rev Dr Conrad Howell, a prominent Turks and Caicos Islander. As a people we have been flung into a state of grief and shock over his sudden and tragic demise. In the midst of what seems to be an air of grave uncertainty, our hearts and thoughts are immediately turned towards his wife, Brickell, his children, Angelica, Conrad jr, Cristin and Courtnee, his siblings and wider family. Anyone who knew Rev Howell knew that his family was a close knit one and the part of his life that he celebrated. We extend our sincerest and deepest condolences to them and pray that they will allow the God of Peace to envelope and comfort them at this time.
The Late Rev Dr Conrad Howell was well known throughout these Islands for the many roles he played or was playing in these Islands at the time of his passing. Perhaps more notable of these is his current role as host of the Radio Show "Expressions", host of PTV's Show "On Your Mind" , a serving member of the National Honors and Awards Committee, PTA President at the country's largest secondary school and the School named for his father Clement Howell, President and joint owner of the University College of Providenciales, immediate Past President of the Providenciales Ministerial Fellowship and author of "We Salute This Land of Ours".
A citizen who chose to be a participant in his country's affairs through various means, he was a constant voice in the national dialogue. His life is therefore worthy of celebration.
We pause to also celebrate the unity we saw displayed by members of the public on the Island of Providenciales for a cause that was bigger than what too often divides us. The partnership between the Police and the people was an encouraging breath of fresh air. We are grateful for this and to all of you who answered the call to be brave and caring citizens, the best kind, we say thank you. May God bless you and your homes.
I wish to also use this opportunity to encourage members of the public especially those on social media to be responsible in their comments and to allow the family time to grieve and the Police time to investigate. In circumstances of this sort, it is wise to wait on the official release from the Police.
Today we mourn, we celebrate but we should also give thanks for the life and contributions of the Late Rev Dr Conrad Howell.