‘ Detroit’s Bankruptcy Hearing Resumes ‘

#AceFinanceNews – DETROIT – September 29 – Testimony is to resume this morning in the hearings on Detroit’s bid to get out of bankruptcy, and the federal judge overseeing the case is expected to rule on a request that he order Detroit’s water department to enact a six-month pause in shutting off service over unpaid bills.

U.S. Bankruptcy Judge Steven Rhodes also is likely to hear updates from city lawyers about the agreement reached last week to keep emergency manager Kevyn Orr on the job until the bankruptcy exit strategy is approved, yet restore power to run city government to Mayor Mike Duggan and the City Council.

During a meeting of the city’s financial advisory board on Friday, Orr outlined the arrangement that will keep him in charge of shepherding Detroit through the final stages of its bankruptcy.


#aceworldnews, #ans2014, #bankruptcy, #detroit, #unpaid, #water

‘ Newly Passed Minimum Wage in Seattle Changes Lives ‘

#AceFInanceNews – UNITED STATES (Seattle) – June28 – For 100,000 working people in Seattle, a newly passed citywide minimum wage of $15 per hour will mean an increased standard of living – and recognition of their contributions to the local economy. “It’s going to help me and a lot of other people,” said Crystal Thompson, 33, a Dominos Pizza customer service representative who currently earns the city minimum wage of $9.32 per hour. “They [the corporations] have been making money off us. I’ve had the same job for five years and [am] still making minimum wage. I open and close the store. I pretty much run the store and do manager shifts and still get paid minimum wage.”
The basic argument behind these campaigns is that a person working full-time shouldn’t have to live in poverty, a precept that has been popularly accepted.
While Seattle is often associated with technology-driven firms such as Microsoft and Amazon, service workers like Thompson provide a critical backbone for the area economy – a trend that also holds nationally. Over the past 20 years, community and labor organizations have united in a living wage movement to raise the floor for these employees and to make sure that prosperity is widely shared throughout the economy. Even as efforts to increase the minimum wage nationally have encountered resistance in Congress, this movement has made great strides at the local and regional levels.

#aceworldnews, #seattle, #united-states

` Shell closes another ` Six Filling Stations' in ` Crimea ' Citing ` Commercial Considerations' leaving Lukoil '

#AceFinanceNews – MOSCOW- March 31 – Shell has closed six filling stations in Crimea, a spokesman for Shell’s office in Ukraine, which is responsible for the filling stations network in Crimea, told Itar-Tass on Monday.

According to the spokesman, Alliance Holding, the operator of Shell retail network in Ukraine, has closed six out of 22 filling stations in Crimea. A decision to this effect was taken by the Alliance Holding board of directors back in October 2013 and stemmed from commercial considerations aiming to optimize the company’s activities.

“As of now, we can provide no comment about the future of our 16 remaining filling stations in Crimea. We are closely watching the development of the situation,” the spokesman said.

In the meantime, filling stations in Crimea operated by Russia’s oil major LUKOIL are working in the routine mode, the company told Itar-Tass.

Russian Oil News


#aceworldnews, #alliance-holding, #crimea, #lukoil, #moscow, #ukraine

` German Finance Ministry ` European Central Bank ‘ to raise ` Interest Rates ‘ citing an internal Document ‘

#AceFinanceNews – ECB – March 30 – Experts at the German finance ministry expect the European Central Bank to raise key interest rates soon due to the economy picking up, a German news weekly said on Sunday, citing an internal document –

With the Eurozone debt crisis increasingly fading and an improving economy, “an active contribution to the overcoming of the low interest policy is to be expected” from the ECB, Spiegel quoted the ministry document as saying.

That will lead to Germany having to pay more for its loans in a year’s time than it currently does, according to the experts at Finance Minister Wolfgang Schaeuble’s ministry.

The ECB has held its key interest rates at an all-time low of 0.25 percent since November and analysts do not expect a cut by the Frankfurt-based bank at its meeting this week.


#aceworldnews, #ans2014, #ecb, #european-central-bank, #eurozone, #frankfurt, #german, #wolfgang-schauble

` Grenades are thrown at the offices of `Thailand’s Anti-Corruption Agency ‘ by Protesters over Corruption ‘

#AceFinanceNews – THAILAND – March 28 – Grenades were thrown at the offices of Thailand’s anti-corruption agency, police said on Friday.

The National Anti-Corruption Commission earlier summoned the prime minister to answer charges of dereliction of duty next week, Reuters reported.

Nobody was injured in the overnight attack, the second on the agency’s offices this week.

The commission is examining the alleged failure of Yingluck Shinawatra to stop corruption and stem huge losses in a government rice-buying program.

Ace Related News – March 12 – 09.41 GMT – #AceWorldNews – Bangkok – Rice producers participating in anti-government protest rally in the Thai capital have caused a blackout in the Trade Ministry headquarters, MCOT news agency reported on Wednesday.

In February, the Thai government managed to negotiate with an initiative group of farmers a schedule for paying debts in order to avoid mass protests in Bangkok, where thousands of farmers were ready to go to demand their money to be paid immediately.

Meanwhile, not all the farmers agreed to wait. http://wp.me/pzTwj-2CR


#national-anti-corruption-commission, #reuters, #rice, #thailand, #yingluck-shinawatra

` EU last night decided to expand their list of `Russian’s ‘ banned from entering EU Countries and their assets frozen if deposited in EU Banks ‘

#AceWorldNews – BRUSSELS, MARCH 21.- The European Union has expanded the list of Russians banned from entering the EU countries from 21 to 33. The financial assets of the people from the ‘black list’ will be frozen if found in European banks.

The decision about imposing economic sanctions has not been made.

European Council President Herman Van Rompuy said the names of the ‘blacklisted’ Russians will be made public after its publication in the Official Journal of the European Union. “We are imposing sanctions on more senior officials of the Russian government,” he noted.

The EU countries have also agreed to halt preparations for bilateral summits with Russia and cancelled the EU-Russia summit scheduled for June. Van Rompuy stressed that the EU insists on the de-escalation of the crisis in Ukraine and restoration of the country’s territorial integrity.

He added that in case of further Russian actions in Ukraine and lack of de-escalation efforts the EU will take other measures, including economic.


#brussels, #eu, #european-union, #russia, #russian

` Russian Policemen have transferred money to the aid of `Berkut and Ukrainian ‘ Policemen affected by Disorders’

#AceFinanceNews – Moscow – March 20. – About 100,000 Russian policemen have transferred money to an account in aid for Berkut members and other Ukrainian policemen affected by disorders in the country, an official at the Russian Interior Ministry’s press centre told reporters on Thursday.

The money are transferred to the account of the service of social and legal protection of Interior Ministry personnel to provide aid for the colleagues from the Berkut unit and other Ukrainian police units, the official said.

In the Voronezh Region alone, more than 10,000 policemen decided to help Berkut members, and more than 12,000 joined the initiative in the Rostov Region.

Russian Media Sources


#aceworldnews, #berkut, #moscow, #rostov-region, #russian, #russian-interior-ministry, #ukrainian

#AceWorldNews The Crimean parliament has announced the Russian…

#AceWorldNews The Crimean parliament has announced the Russian Rouble will become the second official currency of Crimea and will be circulating alongside the Hryvnia until it is withdrawn in 2016.


#crimea, #crimean, #hryvnia, #rouble, #russian

` United States to sell `Strategic Petroleum Reserves ' for the first time since the Gulf War '

#AceFinanceNews The Obama administration plans to sell 5 million barrels, or less than 1 percent of the Strategic Petroleum Reserve, calling the move a test of the petrol distribution system.

The last time this happened was in August 1990 before the first Gulf War.

“Due to the recent dramatic increase in domestic crude oil production, significant changes in the system have occurred — including pipeline expansion, construction of new infrastructure, reversed flow of existing pipelines and increased use of domestic crude oil terminals,” William Gibbons, the US Energy Department spokesman said in a statement.

The government rejected a connection with the turmoil in Ukraine or other geopolitical events.

On Thursday the price of West Texas Intermediate (WTI) crude futures for April delivery fell by 2.3 percent on the New York Mercantile Exchange. It’s the biggest drop in two months.

WTI crude has a high sulfur content, similar to oil exported from Russia.

The large sale might be a test of the US system’s readiness for a hiccup in Russian supply, analysts suggest.

“The timing of this makes it seem like a warning shot across the bow towards the Russians,” the Financial Times quotes Michael Wittner, the head of global oil research at Société Générale in New York.

Reuters – Financial Times – AP


#aceworldnews, #ap, #financial-times, #gulf-war, #new-york, #new-york-mercantile-exchange, #obama, #reuters, #russia, #societe-generale, #ukraine, #us, #us-energy-department, #west-texas-intermediate-wti

` ` Thai Farmers cause `Black-Out ‘ in ` Ministry of Trade ‘ during ` Protest Rally ‘ in Bangkok ‘

#AceWorldNews – Bangkok – Rice producers participating in anti-government protest rally in the Thai capital have caused a blackout in the Trade Ministry headquarters, MCOT news agency reported on Wednesday.

In February, the Thai government managed to negotiate with an initiative group of farmers a schedule for paying debts in order to avoid mass protests in Bangkok, where thousands of farmers were ready to go to demand their money to be paid immediately.

Meanwhile, not all the farmers agreed to wait.

According to MCOT news agency, protesters near the Trade Ministry headquarters prepare to spill on the ground about 10 tonnes of rice.

In 2011, Thai government headed by Yingluck Shinawatra introduced the system of state collateral rice purchase from farmers at rates that significantly exceed market prices.

Thailand is one of the global leaders in rice production, and such methods of regulation in agriculture, economists believe, have led to major losses for the country. In late 2013, the Thai government stopped paying to farmers due to lack of funds.

All government’s attempts to get a credit even in the state bank of Thailand were derailed by oppositionists that strived for the resignation of Yingluck Shinawatra.

To square accounts with the farmers, the Thai government decided to sell the available rice stocks at below-market prices.

March 12. /ITAR-TASS/.


#bangkok, #mcot-news-agency, #thailand, #yingluck-shinawatra