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Wednesday, July 23, 2008

British bank Northern Rock has appointed the vice chairman of Barclays as its new chief executive. After 26 years at Barclays—the last two of which were as vice chairman—Gary Hoffman will replace Andy Kuipers. Kuipers, who has been with Northern Rock for 20 years, will be replaced at the beginning of October.

Last September, Northern Rock suffered the first run on a British bank in over 100 years, and was forced to become nationalised. Today, Hoffman stated he would return the bank to private ownership “as a thriving, stable business”. Some of his past roles include chairman of banking and chairman of Barclaycard. In his new role, he is expected to cut 2,000 of the 6,000 jobs provided by the company in an attempt to be able to pay back money owed to the Bank of England. He is to earn £700,000 per year, plus £400,000 in compensation from losses due to his moving. Including a bonus, he is expected to earn £1.5 million in his first year, making him Britain’s highest paid public servant. Among other tasks, he will be working to pay back the £25bn loan Northern Rock got from the Bank of England by 2010, and reducing its mortgage lending from £100bn to £50bn.

Northern Rock hit problems in September 2007. Issues in the mortgage market and public concern over the stability of the bank saw queues form with people keen to withdraw their funds following emergency support being provided by the Bank of England. With share prices plummeting as a result of issues in the United States sub-prime mortgage market, an unprecedented crisis struck one of the UK’s largest banks. By February 2008, the decision was taken to move the bank into public ownership and it was nationalised. Today’s appointment is the first step on a road to returning the bank to private ownership with significant measures required to cut the bank’s costs, repay loans from the Bank of England, and transform the institution into one which is attractive to the stock market.

Monday, December 14, 2020

On Tuesday, US-based software company Red Hat announced their plans to shift their focus away from CentOS in favour of CentOS Stream.

In the blog post Chris Wright, the Chief Technological Officer of Red Hat said Red Hat had informed the CentOS governing board that Red Hat was “shifting our investment fully from CentOS Linux to CentOS Stream”. At least five of the nine CentOS Governing Board listed on the project are Red Hat employees.

Started in 2004, CentOS has been a free-of-cost free/libre open source software which provided binary-code compatibility with Red Hat Enterprise Linux (RHEL) — Red Hat’s GNU General Public Licensed paid operating system. CentOS was absorbed into Red Hat in 2014, with Red Hat gaining the trademark rights of “CentOS”.

Red Hat also sponsors the Fedora operating system. Red Hat even gives the software engineering interns laptops with Fedora on it. Till now, software development took place on Fedora, which was later adopted in RHEL, which the Red Hat maintained and provided support for, for those customers who had RHEL subscription. CentOS would then follow RHEL to provide the same features free of cost, but without the support.

Stream was announced in September 2019, just two months after Red Hat was acquired by IBM. CentOS Stream’s development cycle had new features added to it before the features became a part of RHEL. Stream receives more frequent updates, however, it does not follow RHEL’s release cycle.

With CentOS Stream, developments from the community and the Red Hat emplyees would take place beforehand on both Fedora, and Stream as a rolling release, before those features are absorbed into RHEL. CentOS followed the release cycle of RHEL and therefore it was a stable distribution. Features available in CentOS were tried and tested by Fedora, and then RHEL maintainers. Stream, on the other hand, has features added to it before those features become a part of RHEL. That implies Stream would be ahead of RHEL’s development, containing new features which are not yet tried and tested by RHEL developers, and not be binary code-compatible with RHEL.

Writing “The future of CentOS Linux is CentOS Stream”, Wright further wrote in the announcement, CentOS Stream “provides a platform for rapid innovation at the community level but with a stable enough base to understand production dynamics.” Wright also said, “CentOS Stream isn’t a replacement for CentOS Linux; rather, it’s a natural, inevitable next step intended to fulfill the project’s goal of furthering enterprise Linux innovation.”

Since the announcement was made, many people expressed their anger on Internet Relay Chat (IRC), Reddit and CentOS project’s mailing list. CentOS 8’s End of Life (EOL) has been moved up from May 2029 to December 31, 2021, while CentOS 7 is expected to receive maintenance updates through June 2024, outliving CentOS 8.

Gregory Kurtzer, who had started the CentOS project, announced a new operating system, Rocky Linux. Rocky Linux describes itself as “a community enterprise Operating System designed to be 100% bug-for-bug compatible with Enterprise Linux”. The project said “Rocky Linux aims to function as a downstream build as CentOS had done previously, building releases after they have been added to the upstream vendor, not before.” The project maintainers have not decided a date for when the operating system will be released.

Kurtzer explained the reason to call the OS as Rocky Linux: “Thinking back to early CentOS days… My cofounder was Rocky McGaugh. He is no longer with us, so as a H/T [hat tip] to him, who never got to see the success that CentOS came to be, I introduce to you…Rocky Linux”.

Wikinews reached out to the members of the CentOS project, Pablo Greco and Rich Bowen, to discuss this move, its implications as well as the future of CentOS. Greco is a maintainer of armhfp (32-bit processors) and is a part of the CentOS’ quality assurance team. Bowen — who unlike Greco, works for Red Hat — is the community manager of the CentOS project.

Friday, May 26, 2006

In February of 2006, the Savarino Services Construction Corp. proposed the construction of a seven million dollar hotel on Elmwood and Forest Avenues in Buffalo, New York. In order for the hotel to be built, at least five properties containing businesses and residents would have to be destroyed. It was not certain whether the properties were owned by Savarino or by the landlord Hans Mobius. The hotel was designed by Karl Frizlen of the Frizlen Group, and is planned to be a franchise of the Wyndham Hotels group.

Elmwood Avenue is known by the community as a popular shopping center, and Nancy Pollina of Don Apparel (who is “utterly against” the construction) claims it’s the only reason why students from Buffalo State College leave campus. Additionally, Michael Faust of Mondo Video said he did not want to “get kicked out of here [his video store property].”

In 1995, a Walgreens was proposed to be built on the same land, but Walgreens later withdrew its request for a variance because of pressure from the community. More recently, Pano Georgiadis tried to get the rights to demolish the Atwater House next to his restaurant on Elmwood Avenue, but was denied a permit due to the property’s historical value. He has since been an opponent to the hotel construction.

In the process of debating the hotel, it was thought that a hotel had previously existed on the proposed site, however; research done at the Buffalo and Erie County Historical Society had shown that no hotel had previously existed on the site.

A compilation of brief news reports for Thursday, April 19, 2007.

Wikinews reported previously on an Internet outage in New Zealand that lasted for over five hours. Telecom New Zealand, the company that owns and operates the “local loop”, said that they will review compensation for its customers on a case-by-case basis.

A wholesale ISP is attempting to give its subscribers compensation for the outage. CallPlus says that it is asking Telecom for the thousands of dollars it needs to pass on to its affected customers. They doubt Telecom will give them the money needed.

Related news

• “Outage leaves tens of thousands of New Zealanders without Internet” — Wikinews, April 18, 2007

Sources

• Newsroom. “Callplus seeks Telecom compo” — National Business Review, April 19, 2007
• “CallPlus to seek compo over broadband outage” — Radio New Zealand, April 19, 2007

Farmers in Peru striking over the Peruvian government’s stance on coca, have issued an ultimatum. The ultimatum appears to be: negotiate within 24 hours, or face roadblocks indefinitely.

The protests come in response to a coca eradication drive and measures Peruvian president Alan García is taking against cocaine production in the country.

Peruvian police have arrested the leader of the Shining Path rebel group, Jimmy Rodríguez on charges of organising anti-government protests.

Sources

• Dan Collyns. “Peru coca farmers warn government” — BBC News Online, April 19, 2007
• Xinhua. “Peru police arrest Shining Path leader linked to coca protest” — People’s Daily Online, April 19. 2007

Meetings are underway at NATO headquarters in an attempt to reassure Russia that the missile defence plans pose no threat. The United States maintains the system is to protect against missiles from rogue states, whereas Russia sees the system as compromising its strategic interests in the region.

In today’s talks NATO allies encouraged the United States to make the planned anti-missile shield capable of covering all of Europe. They did this without committing themselves to joining the project.

Reaction to the proposed system in European states has been mixed.

• “US set for Russia missile talks” — BBC News, April 19 2007
• Mark John. “NATO allies urge U.S. to open missile shield plan” — Reuters, April 19 2007

Irrigation water to a substantial proportion of Australia’s farming regions could be cut due to drought conditions, Australian PM John Howard has warned.

Mr Howard’s comments concerned the Murray-Darling Basin, one of the largest systems in Australia. “If it doesn’t rain in sufficient volume over the next six to eight weeks, there will be no water allocations for irrigation purposes in the basin”, adding that the drought conditions could continue until May 2008.

He continued “It is a grim situation, and there is no point in pretending to Australia otherwise,” he said. “We must all hope and pray there is rain.”

Sources

• “Australians warned of water cuts” — BBC News Online, April 19 2007
• Rob Taylor. “Drought-hit Australia to stop irrigating food bowl” — Reuters, April 19 2007

Russia, in coordination with the government of the United States and Canada, is planning to build a tunnel from Russia to Alaska, Viktor Razbegin, deputy head of industrial research at the Russian Economy Ministry, told reporters in Moscow Wednesday.

The tunnel is budgeted to cost US$65 billion and would take 10 to 15 years to build. The tunnel is to provide train and automobile transport between Alaska and the Russian Far East, and to carry petroleum and natural gas pipelines, and high-voltage electrical cable.

The proposed tunnel is 64 miles long, or about 100 kilometers, in total, and is designed to link with two islands in the Bering Strait. The project is expected to have a very positive economic effect in the area.

Derek Brower, an energy market expert, called the project “absurd” and suggested the Russian government is playing political games to threaten its European customers to sign energy deals.

“I’ve never heard of this plan,” said Sergei Grigoryev, Vice President of oil pipeline monopoly Transneft.

“To be honest, anyone who look[s] at the map will realize that the project is too hard to implement,” an anonymous government source told Reuters.

Sources

• Miro Cernetig and Peter O’Neil. “Russia proposes Bering Sea tunnel, railway to B.C.” — Vancouver Sun, April 19, 2007
• Dmitry Zhdannikov. “Russia-Alaska tunnel is far off, if not a pipe dream” — Reuters, April 18, 2007
• Yuriy Humber and Bradley Cook. “Russia Plans World’s Longest Tunnel, a Link to Alaska (Update4)” — Bloomberg News, April 18, 2007

Monday, June 18, 2007

Police in Melbourne, Australia are on the hunt for a gunman who killed a man and injured two others in the city’s central business district this morning.

Officials warned all office workers to remain indoors, and train services to Flinders Street Station were temporarily on hold, as investigations were carried out on the intersection of Flinders Lane and William Street.

Malcom Bates, who witnessed the shootings at around 8:15 a.m., said the gunman grabbed a woman from inside a taxi. “The lady got away and he turned and shot three people basically point blank,” Mr Bates said. “I was right across the road”. He said that the incident took no longer than the “wink of an eye”.

Paramedics struggled to revive the one victim for almost an hour before declaring him dead at the scene. The two injured people have been taken to the Royal Melbourne Hospital in a critical condition.

Police believe the incident began at the Bar Code 24-hour bar in King Street, when a woman attempted to get into a taxi. She was apparently grabbed by the hair by the gunman who then shot her and two men who attempted to come to her aid.

Police have identified the gunman as Christopher Wayne Hudson, aged 29. They believe him to be a member of the Hells Angels bikie gang. Police have described Hudson as about 180 cm tall, with short brown hair and wearing a dark tracksuit top and dark denim jeans.

A building worker on a construction site on the corner of Queen and Flinders Streets has reportedly discovered a handgun. It is understood the gunman may have thrown the weapon into the site as he fled the scene.

Thursday, January 12, 2012

Art thieves in Greece broke into the Athens National Gallery on Monday and stole three valuable works of art.

Among them was a painting by famous Spanish painter Pablo Picasso, dated 1939, called Woman’s Head which was a gift to the Greek people for their resistance to the Nazis during World War 2. The other two works were Mill by Piet Mondrian and a sketch of St. Diego de Alcala by Guglielmo Caccia. A fourth painting, Landscape, also by Piet Mondrian was dropped by the thieves when pursued by security. All three works stolen were stripped from their frames.

The police stated multiple alarms during the evening of the heist in other parts of the building had distracted the gallery guard. Investigating yet another alarm, he saw the shadow of a fleeing individual. Citizen’s Protection Minister Christos Papoutsis apologized for the loss, citing that the security at the gallery was “non-existent”.

The value of the works stolen was not yet determined by gallery officials. The artwork in question was on display at the gallery as part of an exhibition called “Unknown Treasures”, including works of Albrecht Durer and Rembrandt.

Saturday, January 10, 2009

A significant portion of the American LGBT media landscape is about to become a conglomerate. Thursday, PlanetOut Inc. (PlanetOut.com, Gay.com) sent out a press release stating it signed a definitive merger agreement with Here Networks LLC (operator of cable network here!) and Regent Entertainment Media Inc. (properties including magazines The Advocate, Out).

The deal comes after PlanetOut had been on the market for nearly a year. The company sold its magazine and book publishing businesses back in April, and its vacation company in December.

The newly formed public holding company, Here Media Inc., will be helmed by Chairman Stephen P. Jarchow and CEO Paul Colichman. Its unknown whether any of struggling PlanetOut’s jobs will be cut.

Plans are for all three companies to operate separately, as of subsidiaries of Here Media. The agreement still has to be approved by a majority of PlanetOut common stock holders, comply with regulatory filings and approvals, and meet various closing conditions.

PlanetOut shareholders will represent only 20% of Here Media Inc.’s shares.