Sunday, August 16, 2015

US flight delays linger after FAA computer failure

US flight delays linger after FAA computer failure


[WASHINGTON] US travelers coped with late flights and cancellations for a second day after a now-resolved computer failure at a regional air-traffic control center added to a weekend of havoc from New York to Florida.
At least 2,250 US flights were late on Sunday and more than 150 were canceled, according to FlightAware.com data. Among the most affected airports were those in New York, Washington and Charlotte, North Carolina, according to the flight-tracking website.
On Saturday, some 3,800 flights within, into or out of the US were delayed and 650 were canceled, according to the website. Travelers in some East Coast airports on Saturday were delayed more than three hours before the Federal Aviation Administration fixed the air-traffic control computer breakdown and ended flight restrictions late in the afternoon.
The government's preliminary figures show 492 delays and 476 cancellations on Saturday were attributable to the malfunction in a five-month-old system installed to help modernise the agency's operations in Leesburg, Virginia.



"The FAA is continuing to diagnose the cause of yesterday's problem, and has not seen a reoccurrence of the original issues," Laura Brown, a spokeswoman for the agency, said Sunday in an e-mailed statement.
The agency is "working with the airlines to resume normal air traffic operations" after the delay on Saturday, according to the statement.
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London finance vacancies rise 17%, pushing up pay, survey shows

London finance vacancies rise 17%, pushing up pay, survey shows


[LONDON] Job vacancies in London's financial-services industry increased by 17 per cent in July, as pay rose the most in at least a year, according to a recruitment firm.
Job openings in the capital's financial districts climbed to 10,920 last month from 9,315 a year earlier, recruitment firm Morgan McKinley said in a statement on Monday. Starting salaries increased by 22 per cent on average, the most in at least 12 months, the survey shows.
"Some employees are also taking advantage of the quieter months to renegotiate their compensation packages," Hakan Enver, operations director Morgan McKinley Financial Services, said in the statement. "We've seen some staff ask for a raise accompanied with the threat of changing employers."
UK banks are hiring in compliance functions to meet new regulations, while cutting jobs to reshape their investment banks and trading operations. Barclays Plc cut 150 employees at its investment bank, a person with knowledge of the matter said in July, while HSBC Holdings Plc recruited more than 2,200 staff this year to monitor internal processes.



Total pay in the UK, which includes bonuses, rose an annual 2.4 per cent in the second quarter, the Office for National Statistics said in August.
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Germany praises Greek stance shift in debt talks

Germany praises Greek stance shift in debt talks 


[BERLIN] Germany's hardline finance minister Wolfgang Schaeuble on Sunday hailed a change in tone in talks with Greece over its next bailout but warned Europe would closely monitor the pace of reforms in Athens.
Ahead of a key vote in the German parliament to approve a third rescue package for its debt-mired eurozone partner, the influential Schaeuble struck an upbeat, conciliatory note.
"After truly arduous negotiations, they understand now in Greece that the country cannot get around real and far-reaching reforms," he told the Bild am Sonntag newspaper.
Mr Schaeuble, who has driven a tough bargain throughout the crisis talks with Athens, called an agreement reached Friday among the eurozone finance ministers "responsible" and "in keeping with the commitments made at a euro summit in July".



He said that the eurozone countries would now be keeping close watch to ensure that the reforms-for-aid deal "is implemented point-by-point" in Greece.
One of Mr Schaeuble's deputies, Jens Spahn, said that he now expects talks on debt relief given the insistence of the International Monetary Fund, one of Greece's key creditors, on measures to bring Athens's debt mountain down to a manageable size.
But Mr Spahn, seen as a rising star in Chancellor Angela Merkel's conservative Christian Democratic Union, told the Welt am Sonntag newspaper it marked "a decisive step forward that there is a general understanding that this is possible without a haircut" or debt writedown.
Germany has ruled out erasing any of Greece's debt from the books but has indicated it would be open to giving Athens more time to pay its creditors back if it continues to implement pro-market economic reforms.
As Europe's biggest economy and contributor to Greek aid, Germany has a key role in the emergency package approved by eurozone finance ministers worth 86 billion euros ($96 billion).
MPs from Germany's Bundestag lower house of parliament will be called back from the summer recess to vote on the bailout Wednesday.
Analysts say approval is almost certain, given that Merkel's governing coalition of conservatives and Social Democrats has 504 out of 631 seats in the assembly.
The main interest is in the scale of any revolt by deputies in Merkel's conservative bloc, they say.
Mrs Merkel, who has been at pains to ensure Greece does not crash out of the eurozone, will address the chamber ahead of the vote before leaving on an official visit to Brazil.
She was due to give a wide-ranging interview to public television later Sunday about the Greece crisis and other issues facing her government.
AFP

Rescuers head to crashed Indonesian plane: official

Rescuers head to crashed Indonesian plane: official


[JAYAPURA] Rescue teams were heading to the site of an air crash in rugged eastern Indonesia on Monday after villagers found the wreckage of a passenger plane which went missing with 54 people aboard, officials said.
The plane operated by Indonesian carrier Trigana Air lost contact with air traffic control just before 3.00pm (0600 GMT) Sunday after taking off from Jayapura, the capital of Papua province, the search and rescue agency said.
The ATR 42-300 twin-turboprop plane was carrying 44 adult passengers, five children and five crew on the flight which was scheduled to take about 45 minutes, it said.
But the plane disappeared about 10 minutes before reaching its destination Oksibil, a remote settlement in the mountains south of Jayapura, shortly after it asked permission to start descending to land.



Officials said initially that villagers in the Okbape district of Papua reported seeing a plane crash. The transport ministry later said local residents had found the wreckage.
"The plane has been found (by villagers). According to residents, the flight had crashed into a mountain," said the transport ministry's director-general of air transportation, Suprasetyo, who goes by one name.
Officials were still verifying the information from local residents, he said. There was no information about whether anyone may have survived.
Search and rescue teams, police and the military would head to the site as soon as possible Monday, said transport ministry spokesman J. A. Barata.
'DARK AND CLOUDY'
After the plane failed to land, Trigana Air sent another flight over the area to hunt for it but the aircraft failed to spot anything due to bad weather.
Captain Beni Sumaryanto, Trigana Air's service director of operations, told AFP that Oksibil was "a mountainous area where the weather is very unpredictable. It can suddenly turn foggy, dark and windy without warning.
"We strongly suspect it's a weather issue. It is not overcapacity, as the plane could take 50 passengers." Barata said the weather in the area had been "very dark and cloudy".
Trigana Air is a small airline established in 1991 that operates domestic services to around 40 destinations in Indonesia.
It has suffered 14 serious incidents since it began operations, according to the Aviation Safety Network, which monitors air accidents.
The airline is on a blacklist of carriers banned from European Union airspace.
Small aircraft are commonly used for transport in remote and mountainous Papua and bad weather has caused several accidents in recent years.
On Wednesday a Cessna propeller plane crashed in Papua's Yahukimo district, killing one person and seriously injuring the five others on board. Officials suspect that crash was caused by bad weather.
Indonesia has a patchy aviation safety record. In December an AirAsia plane flying from the Indonesian city of Surabaya to Singapore crashed in the Java Sea during stormy weather, killing all 162 people on board.
In June an Indonesian military plane crashed into a residential neighbourhood in the city of Medan, exploding in a fireball and killing 142 people.
The aviation sector in Indonesia is expanding fast as the economy booms but airlines are struggling to find enough well-trained personnel to keep up with the rapid growth.
AFP

Rescuers find 7 bodies after China landslide: Xinhua

Rescuers find 7 bodies after China landslide: Xinhua


[BEIJING] At least seven people have died and 57 remain missing more than four days after a landslide hit a mining company in northwest China, the official Xinhua news agency said.
On Sunday evening, seven bodies were retrieved from debris covering employee dormitories in Shanyang county in the northern province of Shaanxi, the news service quoted local rescue officials as saying.
The rescue operation follows a landslide on Wednesday which buried the living quarters of the mining company under one million cubic metres of earth.
The mine's operator was identified by Xinhua as the Wuzhou mining company, which according to its parent company is mainly a vanadium producer.


Search efforts had been hampered by a huge volume of mud and rubble, combined with the risk of a second landslide, rescuers told the news agency.
China - the world's largest producer of coal - is grappling to improve standards in the sector, where regulations are often flouted and corruption enables bosses to pursue profits at the cost of worker safety.
Accidents in Chinese coal mines killed 931 people last year, a top work safety official said in March.
AFP

Merkel defends tough line on Greece, hails will to reform

Merkel defends tough line on Greece, hails will to reform


[BERLIN] German Chancellor Angela Merkel on Sunday defended her government's hard line in negotiations with Greece on a new rescue package, saying it had spurred Athens to commit to necessary reforms.
Dr Merkel told ZDF public television that the package approved last week by the Greek parliament and eurozone finance ministers for a third bailout would help Greece "get back on its feet".
"It doesn't help if we are all nice to each other and in three or four years everything is worse than it already is today," she said.
Dr Merkel said Greece's leftist government had changed its approach "thanks to the tough stance of many countries but also (German finance minister) Wolfgang Schaeuble and the German government".


Athens now "sees that the country can only get back on its feet if it really reforms".
She said eurozone partners would now be watching to see "whether the intensity of this work continues", saying that further Greek measures were necessary "if we want to see the light at the end of the tunnel".
As Europe's biggest economy and contributor to Greek aid, Germany plays a key role in the emergency package approved by eurozone finance ministers worth up to 86 billion euros (S$134.3 billion).
Berlin has been the strongest proponent of a policy insisting on pro-market reforms in exchange for any bailout.
MPs from the Bundestag lower house of parliament will be called back from the summer recess to vote on the rescue package on Wednesday.
Analysts say approval is almost certain, given that Dr Merkel's governing coalition of conservatives and Social Democrats holds 504 of the 631 seats in the assembly.
The main interest is in the scale of any revolt by deputies in Dr Merkel's conservative bloc, they say.
Dr Merkel declined to "speculate" about how many of conservative deputies might jump ship and vote against the bailout but said she would work to convince MPs of her government's position before the vote.
AFP

Brazilians rage against president, corruption

Brazilians rage against president, corruption


[SAO PAULO] Huge numbers of protesters demanded Brazilian President Dilma Rousseff's resignation on Sunday, blaming her and the leftist Workers' Party for runaway corruption and looming recession in Latin America's biggest country.
Crowds chanting "Dilma out!" and singing the national anthem paraded through the capital Brasilia, Rio de Janeiro, the country's largest city Sao Paulo, and across Brazil.
With the Sao Paulo demonstration yet to be counted, the G1 news site reported the latest police estimate of turnout at 419,000 people in dozens of cities and towns, while organizers claimed a total of 664,000.
It was the third major anti-Rousseff protest this year, with 600,000 and at least one million demonstrators taking to the streets in April and March, respectively.


Less than a year into her second term, Ms Rousseff is all but a lame duck, facing an opposition that smells blood and considering impeachment proceedings.
"Our goal is to change Brazil," said Rogerio Chequer, leader of the Vem Pra Rua (Go on the Streets) group among those organising the protests.
"We can't take this corruption any longer, these levels of misery and suffering. You can't have millions of reais siphoned off each year. That's why we've had enough," he said at the Sao Paulo march, where many in the crowd wore the national football team's famous yellow shirt.
"If Congress has even a minimum of sense, it will decide on impeachment." Ms Rousseff, a former leftist guerrilla, has likened impeachment threats to a coup plot and insists that she cannot be forced from office.
The Globo news site reported she would discuss the situation with ministers later sunday.
CARNIVAL AND CORRUPTION
The world's seventh-largest economy is sliding into recession, its credit rating reduced to near junk status.
Austerity measures have replaced the economic go-go years fueled by Chinese demand for commodities, while an ever-expanding bribes and embezzlement probe centered on state oil company Petrobras is ripping through the country's elite.
The boisterous but peaceful crowds in towns and cities across the country pinned the blame on Ms Rousseff, illustrating how Brazil's "Iron Lady" has become the least popular president in modern times, with single-digit ratings.
In Brasilia, retired engineer Elino Alves de Moraes, 77, called for Ms Rousseff and her "gang" to be jailed.
"We want things to change and if the people don't go in the street that's impossible," he said.
In Rio, there was a carnival-like mood, with samba music blasting, some protesters carrying surfboards, others riding skateboards, and many wearing bikinis or bathing suits.
But protesters said they were totally serious about wanting Ms Rousseff and the Workers' Party out.
"They're looting Brazil, stealing everything," said Jorge Portugal, 63, who is retired from a job in marketing.
At a rally in Belo Horizonte, the man who narrowly lost to Ms Rousseff in her deeply divisive 2014 reelection, Aecio Neves, said the protests show that "Brazil has woken up."
IMPEACHMENT THREAT
Prosecutors running the Petrobras probe have brought charges against a who's who of Brazilian movers and shakers, including the billionaire head of the global construction company Odebrecht and a navy admiral once tasked with overseeing a secret nuclear programme.
Ms Rousseff's Workers' Party has been badly shaken by the scandal and she has been tainted by association, even if not directly implicated. Her party's treasurer was among those arrested in April.
Even Ms Rousseff's presidential predecessor, Workers' Party hero Luiz Inacio Lula da Silva, is being investigated in an unrelated influence peddling probe.
A key figure in the fragile governing coalition, House Speaker Eduardo Cunha, defected in July and is considering whether to pull the trigger on impeachment proceedings.
Analysts say Mr Cunha - under investigation for allegedly demanding a US$5 million bribe - is waiting to be sure that Congress would follow his lead, while Ms Rousseff is racing to negotiate a truce.
One possible relief for her came earlier this week when she and Senate President Renan Calheiros - under investigation in the Petrobras affair - agreed to market-pleasing reforms.
The deal took Ms Rousseff ever further from her socialist roots, but could help lure her right-wing opponents from the cliff edge.
"The middle classes want to kick her out of power in any way, but to what end?" asked Andre Perfeito, head economist at Gradual Investimentos.
"In business circles and the elite, there's an idea that it would be even worse if she left. It doesn't mean they're for Rousseff, but that getting rid of her would be even riskier."
AFP

PBOC chief economist says yuan may move both ways

PBOC chief economist says yuan may move both ways


[SHANGHAI] The yuan will probably move in both directions in the future following last week's devaluation as the economy stabilizes, according to Ma Jun, chief economist at China's central bank.
A more market-oriented pricing mechanism for the yuan will help to avoid excessive deviation from the equilibrium level and significantly reduce the possibility of sudden fluctuations, Mr Ma said in an e-mailed statement on Sunday. The economy will probably grow about 7 per cent this year, he said.
The yuan halted a three-day slide on Aug 14 following its first major devaluation since 1994 after the central bank said it will intervene to prevent excessive swings. Policy makers are trying to balance the need for financial stability with a desire for stronger exports and the yuan's inclusion in the International Monetary Fund's basket of reserve currencies.
"If we want to evaluate the yuan's mid-term trend, it's more important to analyze the fundamentals of the economy, which has shown signs of stabilization and recovery," Mr Ma said in the statement. "Even if the central bank needs to intervene in the market in the future, it could be either way." China's decision on Aug 11 to allow markets greater sway in setting the currency's level triggered the biggest selloff in 21 years and roiled global markets.


The current exchange rate is now more consistent with economic fundamentals, and there is no need to adjust it to boost exports, PBOC Deputy Governor Yi Gang said at a press conference on Aug 13. The central bank has exited regular intervention, and will will act when the market's volatility is excessive, Mr Yi said.
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