Europe Shares Close Higher As Italy Rallies
Army Europe and U.S. Naval Forces Europe-Africa were still reviewing the number of employees furloughed as of Tuesday morning, partly because guidance changed a few times, both commands reported. Workers who were furloughed said, although they expected it, it was disconcerting. In Vicenza, Italy, Bryan Coleman, computer network manager for the 509th Signal Battalion, who was furloughed over the summer, said this second furlough was not unexpected. We all smelled it coming, we felt it coming and we all hoped it wouldnt come, said Coleman, 56. Im just angry that our politicians have made us the football. Jennifer Sherbert, an accounting technician for the Armys regional chaplain office in Sembach, Germany, said she was worried about when she would get paid. You dont know what to think or you dont know what to believe as far as what the outcome is going to be, she said. Its just like that state of confusion. There was also confusion at some offices as to whether they were closing. In the early afternoon, recreation aid Debbie Camarce was taping signs listing reduced opening times on the front doors of the Air Force community center on Vogelweh, just hours after officials had announced, and informed parents, that the center would be closed and there would be no after-school activities. The shutdown follows a fiscal year marked by defense budget caps known as sequestration, which will continue into the new fiscal year unless repealed by Congress. Service chiefs have repeatedly warned that the $52 billion in lowered spending could devastate military readiness. The White House on Tuesday released a video in which President Barack Obama directly addressed troops and DoD civilians. He promised to work toward an end to both the government shutdown and the second round of sequestration cuts. Those cuts amount to $52 billion in the new fiscal year, a sum that service chiefs have repeatedly warned could devastate military readiness if left in place. We need a responsible approach that deals with our fiscal challenges and keeps our military and our economy strong, Obama said in the video. Gray, in Naples, said he felt a bit sheepish going before civilian employees on Tuesday morning when he knew his pay was guaranteed.
Google edges closer to antitrust deal with Europe
IBEX 35 — The pan-European FTSEurofirst 300 Index closed provisionally up 0.6 percent at 1,254.36 points, after U.S. lawmakers failed to reach an agreement on the federal budget by the October 1 deadline. This triggered a partial government shutdown that left an estimated 800,000 federal employees facing temporary unpaid leave. economy. That does however mean that we will need to hear the right sounds out of Washington to feel confident enough that the shutdown will not damage economic growth,” Joe Rundle, head of trading at ETX Capital said in a research note. In the U.S., stocks extended their gains on the first trading day of the month and quarter, with all key S&P 500 sectors in positive territory. On the economic front, the U.S. manufacturing sector expanded at its fastest pace in almost 2-1/2 years in September, according to the Institute for Supply Management (ISM). In Europe, the Italian FTSE MIB closed provisionally up 3.1 percent after the previous session’s heavy selling, as investors predicted the government would survive a confidence vote on Wednesday. The manufacturing purchasing manager’s index (PMI) fell to 51.1 in September, down from 51.4 in August. The figure was just above the 50-point mark separating expansion from contraction in the sector. Euro zone unemployment remained unchanged for the month of August at 12 percent, according to Eurostat.
Europe Bases Suspending Work as Shutdown Begins
I expressed my opinion to Google and in public. Now, with the significant improvements on the table, I think we have the possibility to work again and seek to find an effective solution based on a decision under Article 9 of the Antitrust Regulation .” Google has been in hot water with the EU over charges that it stifles competitors in the lucrative search and online advertising markets, thus violating European antitrust laws. Earlier this year, Google offered a series of concessions aimed at ending the dispute. But in July, the EU rejected those proposals, arguing that they were ” not enough to overcome our concerns .” Related stories UK regulator seeks comment on Google’s Waze acquisition In response, Google went back to the drawing board to fine-tune its proposals while under considerable pressure from the European Commission , according to The New York Times. The EC had “insisted on further, significant changes to the way we display search results,” Kent Walker, a senior vice president at Google, said in a statement. “While competition online is thriving, we’ve made the difficult decision to agree to their requirements in the interests of reaching a settlement,” Walker added. It is in Google’s best interests to settle the case. An antitrust fine levied in Europe could cost the search giant as much as $5 billion. Almunia said he believes that the “settlement route remains the best choice.” But that doesn’t mean it’s a done deal just yet. The EC still needs to work with Google over the next few weeks to finalize the proposals, according to Alumnia. The Commission will also ask for feedback on the proposals from companies that have lodged antitrust complaints against Google as well as other stakeholders. A group representing 15 of those stakeholders has already chimed in. FairSearch — whose members include Expedia, Hotwire, TripAdvisor, Nokia, Oracle, Microsoft, Twenga, Allegro Group, and Foundem — issued the following statement in response to Alumnia’s speech: Until we have seen the details of Google’s proposed remedies, it would be irresponsible to comment on their content and potential for correcting the anti-competitive behaviour identified by the European Commission in May 2012. However, for FairSearch Europe it is essential that the remedies install the principle of non-discrimination so that Google applies the same rules to its own services as it does to others when it returns and displays search results.