NYSE to merge with Archipelago; NASDAQ to buy Instinet

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NYSE to merge with Archipelago; NASDAQ to buy Instinet

Sunday, April 24, 2005

New York Stock Exchange (NYSE) announced last Wednesday that it has agreed definitively to merge with Chicago-based Archipelago Exchange (ArcaEx) and form a new publicly traded, for-profit company known as NYSE Group. This announcement was followed two days later by NASDAQ®, which independently announced a definitive agreement to purchase Instinet Group.

Archipelago and Instinet are innovative e-trading (electronic trading) companies, and formerly were the two largest American rivals to NYSE and NASDAQ, in recent years taking increasingly large portions of their market share. The Securities and Exchange Commission (SEC) and other regulatory agencies still have to review and approve the transactions, particularly with respect to US securities law and antitrust law, in order to ensure that the marketplace remains lawful and competitive.

Other pending issues for NASDAQ include obtaining the approval of Instinet shareholders, as well as customary closing conditions. NYSE must obtain the approval of its members and Archipelago shareholders.

These changes, a reaction to increased e-trading competition and a changed regulatory environment, will result in NASDAQ and NYSE trading each other’s shares and attempting to grab market share, which many hope will drive down transaction costs and ultimately benefit consumers. However, at least one commentator, Dan Ackman writing in Forbes, has noted that the trading commission at the NYSE currently averages less than a nickel (US$0.05) per share, and was less enthusiastic about potential efficiency gains from electronic trading at the exchange.

The transactions are also intended to make the two leading American stock exchanges more globally competitive with such exchanges as the London Stock Exchange, the Frankfurt Stock Exchange, the Toronto Stock Exchange, and the Australian Stock Exchange located in Sydney.

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  • Three injured in a school shooting in Idaho, US; sixth grader in custody

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    Three injured in a school shooting in Idaho, US; sixth grader in custody

    Sunday, May 9, 2021

    Two students and a school employee have been injured following a shooting at Rigby Middle School in Idaho, United States, on Thursday, with a sixth grader in custody.

    According to Jefferson County sheriff Steve Anderson, the sixth grader — who attends the middle school and lives in Idaho Falls — pulled out a handgun from her backpack, firing the gun both in and outside the school, with a teacher managing to disarm the student. Police were called to the school at about 9:15AM local time, and the suspect was taken in the custody of the local sheriff’s office.

    The trauma medical director at Eastern Idaho Regional Medical Center, Dr. Michael Lemon, has stated the three injured people had non-life threatening injuries to the extremities. The school employee has been treated and released from medical care. A warrant has been issued against an Idaho Falls residence in relation to the shooting.

    School was cancelled in the district for Friday. The local school superintendent, Chad Martin, told “this is the worst nightmare a school district could ever face”, and “our hearts and our prayers go out to the victims and their families and all those involved”. A student at the school — 12-year-old Yandel Rodriguez — told the Associated Press “me and my classmate were just in class with our teacher — we were doing work — and then all of a sudden, here was a loud noise and then there were two more loud noises. Then there was screaming”.

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    Category:Featured article

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    Category:Featured article
    Posted in Uncategorized | December 6th, 2022
    Shortcut:WN:FA

    Featured articles are selected by the community to represent the best of Wikinews. See the Featured Article Candidates page for nominations and discussions of candidate articles for this page. Or, subscribe to the RSS feed!

    [edit]

    Pages in category “Featured article”

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    International forces in Dili reach agreement

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    International forces in Dili reach agreement
    Posted in Uncategorized | December 6th, 2022

    Thursday, June 8, 2006

    The international forces in East Timor have reached an agreement about the coordination of the military and police forces in the field. Representatives of the four countries reached the agreement during an urgent meeting after an incident between Australian and Portuguese soldiers yesterday.

    In the agreement reached between Australia, New Zealand, Malaysia, Portugal and the Timorese government, operational autonomy is given to the international forces, which will operate in cooperation and coordination with each other.

    The agreement also stated that in an initial phase Dili will be divided into sectors, and each area will be under the control of an international force. Outside of its area of responsibility, the military or police force will only be able to operate if other international forces request their actions. Also was agreed that the police forces will assume total control of the city after the military forces leave their current occupied positions. A situation that is expected after the arrival of the remaining equipment, mainly vehicles, for the Portuguese Republican National Guard (GNR) and the arrival of the remaining Malaysian police officers and their equipment.

    In an official notice, the Timorese Foreign Minister, José Ramos Horta stated that “the objective on a long run is for the GNR to operate has a tactical intervention force in all the city of Dili”.

    Ramos Horta explained that “in the next days, maybe already tomorrow morning, they [the Australian, Malaysian, New Zealand and Portuguese forces] will do some coordination training, in way to assure that the four forces know exactly what each one will do”. “Since some are from the Army and the others [Portuguese Republican National Guard] are a specialized police and that they never worked together, its useful to carry out some practical exercises”, he added.

    In another subject, Ramos Horta explained that the Australian soldiers that are in Maubisse, next to a rebel group lead by major Reinado, and in Gleno, Ermera, next to another group of “military opponents”, are there “containing those elements”.

    “Those groups are not comparable with other people that are here in Dili and that must be disarmed”, Ramos Horta said.

    “The Australian presence in Maubisse and Gleno aims in containing those groups on their areas, until arrives the moment in which the President decides that is time for also mister Alfredo Reinado and the others to put down their weapons”, he said. “This is not urgent because they are not causing problems to anyone”, he justified.

    The urgency of the resolution and clarification of the command and cooperation of the international forces was originated after an incident between Australian and Portuguese soldiers. When yesterday a Portuguese GNR patrol transported three people to a temporary detention center managed by Australian soldiers.

    The detainees were arrested by a GNR Special Operations team, after being caught looting a governmental warehouse, in Balide, Dili.

    The Australian soldiers then refused to receive the detained men, questioning the legitimacy of the Portuguese soldiers to make arrests. The Portuguese contingent transported the detainees to the Timorese prison services in Dili.

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    NZ Government passes bill to legalise controversial electioneering overspending

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    NZ Government passes bill to legalise controversial electioneering overspending
    Posted in Uncategorized | December 5th, 2022

    Wednesday, October 18, 2006

    A new law to govern how New Zealand political parties spend money in the run up to an election has just been passed in Parliament.

    The Appropriation Bill was passed by 61 votes to 50 after hours of debate.

    Parliament’s been under urgency to allow Member of Parliaments (MPs) to discuss the new legislation, which now validates the $1.2 million of unlawful spending before last year’s election.

    National, ACT and the Maori Party opposition failed to stop the passage of the Appropriation (Parliamentary Expenditure Validation) Bill and it passed by 61 votes to 50. The Green Party abstained.

    The Government rushed the bill through under urgency in two days, despite National putting up 130 amendments to try to slow it down.

    A key National amendment to make the validation conditional on all parties paying back the money was among those that failed.

    The bill prompted fiery scenes in parliament with many MPs ejected from the Chamber for disorderly and inappropriate behaviour.

    All parties but New Zealand First have agreed to pay back the money they were pinged for. Labour’s $824,000 bill is by far the biggest.

    The bill validates all types of spending under the Parliamentary Service budget for MPs’ support going back to 1989, and extends beyond the advertising and publicity Auditor-General, Kevin Brady scrutinised to regular MPs expenses such as travel and accommodation.

    It also provides a temporary definition for parliamentary purposes and electioneering to preserve what the Government says MPs had generally understood these to mean before Mr Brady’s inquiry.

    Dr Donald Brash, leader of the National Party, has said that the bill effectively over-rode Mr Brady’s report and Labour had been trying to defend the indefensible.

    He again argued that Mr Brady’s view that Labour’s $446,000 pledge card was outside the rules for parliamentary funding meant the card should have been counted as campaign expenses, putting Labour in breach of the election spending cap under the Electoral Act.

    This meant Labour had stolen the election by breaking two laws, he said “It’s a fraudulent illegitimate government and I believe that Helen Clark should go the Governor-General, offer her resignation and invite the Governor-General to call a general election.”

    The bill contained no legal obligation for anybody to pay anything back, Dr Brash said, and he questioned if Labour would get around to paying.

    “What has come through this debate is a fierce and ugly sense of entitlement on the part of the Labour Party . . . that they are able to do with taxpayers money whatever they like to serve Labour Party interests,” English, said.

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    Category:Health

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    Category:Health
    Posted in Uncategorized | December 3rd, 2022

    This is the category for Health.

    Refresh this list to see the latest articles.

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    Microsoft to track legal marijuana with new partner Kind Financial

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    Microsoft to track legal marijuana with new partner Kind Financial
    Posted in Uncategorized | December 2nd, 2022

    Sunday, June 19, 2016

    Microsoft announced on Thursday they are partnering with KIND Financial to help governments track the production and distribution of legal marijuana. Kind Financial, a California-based start-up company, began selling its Agrisoft Seed to Sale software three years ago. Microsoft is admitting Kind’s software on the Government portion of its Azure cloud service.

    Although Kind Financial CEO David Dinenberg stressed to The Guardian they “absolutely do not touch the plant”, his company does business with growers and distributors of marijuana, as well as the governments that regulate it. State law in twenty-five US states — but not US federal law — has legalized marijuana, whether medicinally or for recreational use. Kimberly Nelson, Microsoft executive director of state and local government solutions, said they expect significant demand for technology to help states make sure cannabis distribution within their state is done according to their laws.

    Kind also provides kiosks similar to automated tellers (ATMs) to facilitate marijuana transactions in dispensaries. The distribution of marijuana is often done only with cash or through machines like the ones Kind offers since many banks in the United States shy away from the marijuana industry entirely. Microsoft is not interacting with this part of Kind’s operations, however.

    Microsoft and Kind will apply for contracts with state governments for their software. Currently, they have applied to Puerto Rico, a US territory, where medical marijuana has recently been made legal. BioTrackTHC, a company similar to Kind Financial, already has contracts with Washington, New Mexico, and Illinois.

    Dinenberg said his company’s partnership with Microsoft is a major step in advancing the legitimacy of cannabis-related businesses.

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    Standard Operating Procedure changes at Camp Delta, Guantanamo Bay

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    Standard Operating Procedure changes at Camp Delta, Guantanamo Bay
    Posted in Uncategorized | December 1st, 2022

    Tuesday, December 4, 2007

    In an investigation reported on first by Wikinews, Wikileaks today revealed another chapter in the story of the Standard Operations Procedure (SOP) manual for the Camp Delta facility at Guantanamo Bay. The latest documents they have received are the details of the 2004 copy of the manual signed off by Major General Geoffrey D. Miller of the U.S. Southern Command. This is following on from the earlier leaking of the 2003 version. Wikileaks passed this document to people they consider experts in the field to carry out an analysis trying to validate it. Following this, they set out to assess what had changed between 2003 and 2004; including attempts to link publicly known incidents with changes to the manual.

    Wikinews obtained the document and did an in-depth analysis. The American Civil Liberties Union had previously made a request to view and obtain copies of the same document, but was denied access to them.

    One of the first notable changes to the document relates to the detainees themselves. Previously they read the camp rules during admission processing. Rules are now posted around the camp in detainees’ languages. The English version of the rules is as follows:

    1. Comply with all rules and regulations. You are subject to disciplinary action if you disobey any rule or commit any act, disorder, or neglect that is prejudicial to good order and discipline.
    2. You must immediately obey all orders of U.S. personnel. Deliberate disobedience, resistance, or conduct of a mutinous or riotous nature will be dealt with by force. Be respectful of others. Derogatory comments toward camp personnel will not be tolerated.
    3. You may not have any articles that can be used as a weapon in your possession at any time. If a weapon is found in your possession, you will be severely punished. Gambling is strictly forbidden.
    4. Being truthful and compliance will be rewarded. Failure to comply will result in loss of privileges.
    5. All trash will be returned immediately to U.S. personnel when you are finished eating. All eating utensils must be returned after meals.
    6. No detainee may conduct or participate in any form of military drill, organized physical fitness, hand-to-hand combat, or martial arts style training.
    7. The camp commander will ensure adequate protection for all personnel. Any detainee who mistreats another detainee will be punished. Any detainee that fears his life is in danger, or fears physical injury at the hands of another person can report this to U.S. personnel at any time.
    8. Medical emergencies should be brought to the guards’ attention immediately.

    Your decision whether or not to be truthful and comply will directly affect your quality of life while in this camp.

    Of concern to groups such as Amnesty International who campaign for the camp’s closure, or Human Rights Watch concerned about prisoner handling under the prisoner of war aspects of the Geneva Convention, is the fact that policy for newly admitted detainees still allows for up to 4 weeks where access to the detainee by the International Committee of the Red Cross (ICRC) may be denied. In addition, guards are not to allow ICRC staff to pass mail to detainees.

    A new process has been formed which allows guards to determine whether or not a detainee receives awards, or is punished. The form is called a GTMO Form 508-1 (pictured to the right). According to the manual, the form “is used to determine which rewards the detainee will lose or gain,” but “special rewards” can also be earned, outside of the process. One special reward is time allowed outside. Another special reward is a roll of toilet paper, but the detainee cannot share it with others. Doing so will result in “punishment” and confiscation of the roll. If the detainee already has a roll of toilet paper, he is not allowed to have another.

    “Guards need to ensure that the detainee doesn’t receive additional toilet paper when the detainee already has it. The amount given to the detainee will be the same amount as normally distributed to the detainee,” states the manual.

    No matter how bad a detainee may act, “haircuts will never be used as punitive action” against them, but they can have hair removed for health reasons. They can, however, be segregated from other detainees.

    “If a detainee has committed an offense that requires segregation time, even if a segregation cell is not available, the detainee will receive a shave and a haircut for hygiene and medical reasons. If the detainee is IRFed, the haircut and shave will follow the decontamination process,” adds the manual. Barbers are also part of cell searches.

    Despite these changes, a great deal of effort has gone into ensuring the furore over detainee abuse does not recur. Rules governing the use of pepper spray (Oleoresin Capsicum, or OC) appear at an earlier point in the manual with considerable expansion. Infractions such as spitting, throwing water at, or attempting to urinate on guards appear as explicitly listed cases where pepper spray may not be used. Extensive decontamination procedures are included in the document, including immediately calling for a medical check on any detainee exposed to pepper spray. This was not previously present.

    As a counter to the clearer instructions on use of pepper spray, Wikileaks asserts that many of the stricter rules for guards (referred to as Military Police or MPs in the 2003 manual) aim to reduce fraternisation that may improve detainee morale and adversely influence any interrogation process. Guards are informed in the manual not to take personal mail and parcels within the detention blocks or at any other duty stations. All electronic devices except issued materiel are prohibited, and guards may face disciplinary action should they keep detainees apprised of current affairs or discuss issues in their personal lives.

    Additional restrictions on the detainees’ chaplain are included in the revised document. Wikileaks speculated that many of these changes might have stemmed from the widely publicised case of James Yee. Captain Yee, a West Point graduate, served at the Guantanamo Bay base as a Muslim chaplain to the detainees and received two Distinguished Service medals for his work. Following discovery of a list of detainees and interrogators by U.S. Customs in Florida Yee was charged with sedition, aiding the enemy, spying, espionage, and failure to obey a general order. Eventually all charges were dropped with national security concerns being raised should evidence be released.

    The most notable changes surrounding the role of the chaplain include its removal as a permanent position on the facility’s Library Working group and its exclusion from the decision process on appropriate detainee reading material. Wikileaks contacted lawyers representing detainees in the camp to perform their own analysis. Their opinion of the changes were that the library operation had been considerably tightened up. Duplicate books are required for the individual four camps to prevent covert use of books to communicate between camps. Periodicals, dictionaries, language instruction books, technology or medical update information, and geography were additions to the prohibited material. Instructions indicate such books must be returned to the source or donor.

    The revised SOP manual makes considerable progress on documenting procedures, even those that are remote possibilities. A lengthy addition details rules to follow in the event of an escape or escape attempt. Laced throughout this procedure is an emphasis on having any such incident fully documented and – wherever possible – filmed. The procedure is explicit in how to recapture an escaped detainee with minimal use of force. One additional procedure covers the admission of ambulances to the main base area. A detailed security protocol to ensure only expected and authorised traffic gains access is included, as is a procedure streamlined to ensure the ambulance arrives on the scene as quickly as possible.

    Unchanged from the 2003 manual is the set menu of four ready-to-eat meals (Meal, Ready-to-Eat or MRE) issued to detainees. However, additional steps are to be taken for “MRE Sanitization”; supply personnel must remove anything that can damage waste disposal systems— presumably a military term for toilets. Under normal camp conditions, detainees should be fed hot meals as opposed to MREs, but no details on the variety of menu are included.

    Wikinews attempted to get feedback on this. US Southern Command passed a query on to Rick Haupt (Commander, U.S. Navy Director of Public Affairs, Joint Task Force at Guantanamo) who responded that “questions were forwarded along with a request to authenticate the leaked document; a response is pending.” At this time no response to emails has been received from the ICRC or Human Rights Watch.

    The Pentagon has requested that the document be removed from Wikileaks because “information with the FOUO (For Official Use Only) label is not approved for release to the public.” They then state that the document can be “made available through a Freedom Of Information Act request through official channels.”

     This story has updates See US military confirms authenticity of Standard Operating Procedures for Guantanamo Bay 
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    Category:May 27, 2010

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    Category:May 27, 2010
    Posted in Uncategorized | November 29th, 2022
    ? May 26, 2010
    May 28, 2010 ?
    May 27

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    Associated Press will charge for online content in 2006

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    Associated Press will charge for online content in 2006
    Posted in Uncategorized | November 29th, 2022

    Tuesday, April 19, 2005

    The Associated Press (AP) announced yesterday that it will charge its members for online content, starting on January 1, 2006. The decision occurred at its annual board meeting.

    Until the new pricing arrangement takes place, news sites that purchase AP content for their print editions have been able to use the same content on their websites at no additional charge. No pricing scheme has been announced, but the AP did say that it would increase its fees less than usual this year to ease the transition.

    Burl Osborne, the chairman of the AP’s board, stated that since the creation of the internet, the “AP’s philosophy was to promote member efforts to develop this new medium, and to give those fledgling online efforts time to grow.”

    The price increase was not the only plan mentioned at the meeting. According to an AP report in the New York Times, “The AP also plans to introduce a new multimedia package designed to appeal to young adults, a prized advertising demographic deeply immersed in the Internet and other digital media.”

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