The Daily Wire

Recessions, referendums and rolling updates from Hugh Linehan throughout the day

Hugh Linehan Thu, Sep 19
 
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  • 09:36
    Good morning, and welcome to The Daily Wire on irishtimes.com.

    Our top stories today include:

    Arthur Beesley's report that senior Government figures believe the parliamentary inquiry into the banking crash should postpone investigating Anglo Irish bank until after next year's trials of Anglo executives.

    Gardaí appeal for witnesses in their murder investigation following the discovery of the remains of Elaine O’Hara in the Dublin mountains.

    And Ciara O'Brien's test drive of Apple's new mobile operating system, iOS7.
  • 09:46
    Shiver me timbers. Today is International Talk Like a Pirate Day, me hearties.
  • 10:01
    The Guardian has an interesting piece by Cullen Hoback, who's made Terms and Conditions May Apply,  a film about internet privacy:

    'Everything in our digital lives now comes with this legally binding contract, a contract designed to take away fundamental rights. And with 30 or more pages of undecipherable legalese at many sites, how is anyone supposed to understand the nature of the trade for digital services? '


    Here's the trailer: Looks good.

  • 10:07
    BREAKING: The decline and fall of Western civilisation continues. This just in.

  • 10:10
    As part of its 'support for Dublin Theatre Festival,' Dublin Airport is tweeting snippets from Waiting for Godot. Kind of makes sense when you listen to them...

  • 10:35
  • 10:56
  • 10:58
  • 11:01
  • 11:03
    BREAKING GOOD NEWS: According to the Central Statistics Office, Ireland is out of recession - GDP is up 0.4% in second quarter of 2013, but down 1.2% year-on-year
  • 11:09
    Some more detail  from CSO report:

    Preliminary estimates for the second quarter of 2013 indicate that GDP increased by 0.4 per cent in volume terms on a seasonally adjusted basis compared with the first quarter of 2013. GNP, on the other hand, declined by 0.4 per cent in real terms over this period.
    Value added changes in business sectors 
    On the output side of the accounts Building and construction grew by 4.2 per cent while Distribution, transport, software and communication increased by 1.4 per cent in volume terms between  Q1 2013 and Q2 2013. On the other hand Industry(including Building and construction) declined by 0.3 per cent, Public administration decreased by 1 per cent and Other services contracted by 0.1 per cent in volume terms on a seasonally adjusted basis between Q1 2013 and Q2 of 2013.
     
    Personal expenditure and net exports increase
    On the expenditure side of the accounts Personal expenditure increased by 0.7 per cent while Net exports increased by €1,519m in volume terms on a seasonally adjusted basis between Q1 2013 and Q2 2013. Capital investment declined by 3.4 per cent while net expenditure by Government fell by 1.3 per cent between Q1 2013 and Q2 2013.
    Comparisons with Q2 2012
    On the output side of the accounts Industry (including Building and construction) declined by 7.1 per cent in Q2 2013 compared with Q2 2012. Public administration and defence decreased by 3.4 per cent over this period while Agriculture, forestry and fishing contracted by 1.6 per cent in Q2 2013 compared with Q2 2012. On the other hand Distribution, Transport, Software and Communications grew by 5.3 per cent in the Q2 2013 compared with Q2 2012 while the Other services sector increased by 2.8 per cent over this period.
    On the expenditure side Personal expenditure fell by 1.3 per cent and Government expenditure declined by 1.7 per cent compared with Q2 2012. Capital investment increased by 1 per cent while net exports fell by €389m in Q2 2013 compared with Q2 2012.
    Factor income outflows were €455m lower in Q2 2013 compared with Q2 2012 resulting in the 1.2 per cent fall in GDP being converted to a 0.1 per cent decrease in GNP over the same period.

  • 11:29
    Decline and Fall of Western Civilisation Part 2. Over at the rather nice website LeCool Dublin, they're responding to some criticism of the fact they don't review all the shows in the current Dublin Fringe Festival.

    Remarkably, they say that:

    'At Le Cool, we tiptoe around this grey area by simply not running editorial on events that our writers don't honestly enjoy.'

    That's an interesting approach to criticism, alright. Meanwhile, there's only one media organisation left standing in Ireland that tries to provide comprehensive reviews of events such as the FringeFest. You can find it here.
  • 11:30
    Ger Horgan Hugh In relation to 'Step forward, Mark Carmody, who runs a pub in the village, and who opened his nearby haybarn at short notice as the new venue. See the resulting video here.' Forbidden You don't have permission to access
  • 11:35
    Thanks Ger. Let me try that one again.

    In case you missed it, earlier this summer, the Loop Head peninsula in Clare ;was judged the Best Place to Holiday in Ireland. Last weekend, scheduled for the celebration event in Carrigaholt, the peninsula woke to gale-force winds, fog and driving rain, making the planned outdoor event impossible. Step forward, Mark Carmody, who runs a pub in the village, and who opened his nearby haybarn at short notice as the new venue. See the video here.
  • 11:46
    A remarkable clip from last night, when Napoli beat Dortmund in the Champions League. Watch the stadium announcer and the crowd chant the name of Napoli scorer Higuain. 

  • 12:17
  • 13:13
    Sometimes the articles in our Property Supplement read like the opening passages of a pulp novel written by a quantity surveyor. Like this.

    Paddock Wood on Killiney Hill Road has a large, outdoor infinity swimming pool but that that pool is now surrounded by ugly-looking security fencing and filled with green swampy water says a lot about this extraordinary 930sq m (8,000sq ft) modern house and what’s happened to it.
  • 13:38
    European countries have backed holding the 2022 World Cup in Qatar during the winter, Britain’s Fifa vice-president has confirmed.
    Jim Boyce, from Northern Ireland, said the 54 Uefa associations meeting in Dubrovnik, Croatia, want Fifa to consult with the game’s major stakeholders before making any decision about exactly when the tournament is staged.
    Fifa’s executive committee is now expected to agree in principle to move the World Cup to the winter at its meeting in Zurich on October 3rd/4th.
    There could well be disagreements in the future however over whether it is played in January 2022 or November/December of that year.
    The British associations told the meeting they want to make sure that the Christmas week is protected for domestic football, while Uefa chiefs favour January so that it would not impact on the Champions League.
    Fifa are believed to favour November/December so that it does not clash with the winter Olympics.
    The meeting saw the 54 European countries split into four groups to debate the issues surrounding moving the tournament in Qatar.
    At least one of the groups, including the Scottish FA, suggested a possible start to the tournament as January 22nd, 2022, and Boyce said his personal preference would be for the end of January and February.
  • 13:44
  • 13:45
  • 13:52
  • 14:22
    Breaking: ITN has tweeted that a pilot has been arrested on suspicion of being drunk while in charge of a plane at Leeds Bradford Airport.
  • 14:32
    VIDEO: Violent protests by anti-fascist demonstrators in Greece following the murder of a hip-hop artist by neo-Nazis

  • 14:46
    The London Telegraph reports the momentous news that Prince Charles is now the oldest ever heir to the British throne. 

    The Prince, who will be 65 in November, surpassed the previous record-holder, William IV, who
    was aged 64 years, 10 months and five days when he became king in 1830.
    When the Prince of Wales eventually succeeds the Queen, he will be the oldest British monarch
    ever to be crowned.
    He already holds the record of being the longest-serving heir apparent, having been first in line to
    the throne since he was three years old. The previous holder of that record was Edward VII, who
    was 59 when he succeeded Queen Victoria.
    The Prince's advancing years have led to speculation in the past that he could abdicate in favour of
    his son the Duke of Cambridge, allowing the monarchy to skip a generation.
  • 14:54
    Our Arts Editor, Laurence Mackin, has a pretty comprehensive round-up of the various events happening as part of Culture Night tomorrow.
  • 15:01
    Here comes the weekend... According to Syria's official new agency, it'll be lively in Damascus tonight.

  • 15:15
    The BBC reports that JP Morgan has been fined a whopping $920 million for its role in the $6.2billion loss incurred as a result of the "London Whale" trades.
    'Under the settlement, $200m will go to the US Securities and Exchange Commission and $220m to the UK's Financial Conduct Authority.

    As part of the deal JP Morgan admitted violating US federal securities laws.

    Traders at JP Morgan's London office built up huge losses in derivatives trades at the beginning of last year.

    Two former JP Morgan traders face criminal charges in the US relating to the case.

    They deny charges of lying about the size of their trades in order to hide their mounting losses.

    In a statement, the SEC said there had been failings in JP Morgan's internal controls and in senior management.

    The regulator said the bank had admitted the facts underlying the SEC's charges.

    "JP Morgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses," said George Canellos, co-director of the SEC's division of enforcement.

    The Wall Street firm, one of the biggest investment banks in the world, is paying $300m to the US Office of the Comptroller of the Currency (OCC), and $200m will go to both the Securities and Exchange Commission (SEC) and the US Federal Reserve.

    A further $220m will be paid to the UK's Financial Conduct Authority as part of the global settlement.

    The London Whale was the name given to then-JP Morgan derivatives trader Bruno Iksil, who is believed to have racked up the losses and is now co-operating with authorities in criminal cases against other traders.'
  • 15:45
    It's that time on a Thursday when...

  • 16:12
    On the one hand...



    On the other hand...

  • 16:21
    In his first major interview  since his election, Pope Francis has said that the Roman Catholic church had grown “obsessed” with preaching about abortion, gay marriage and contraception, and that he has chosen not to speak of those issues despite recriminations from some critics. The New York Times reports that, in an interview with Rev. Antonio Spadaro, a fellow Jesuit and editor in chief of La Civiltà Cattolica, the Italian Jesuit journal whose content is routinely approved by the Vatican, Francis said that “The dogmatic and moral teachings of the church are not all equivalent. The church’s pastoral ministry cannot be obsessed with the transmission of a disjointed multitude of doctrines to be imposed insistently."
  • 17:30
  • 17:42

    And that's your lot from today. We've had popes, kittens, princes and pilots, abolitionists and retentionists, football fans and film-makers. In the spirit of International Speak Like a Pirate Day, it only remains for me to shiver me timbers, splice the mainbrace and walk the plank. Arrrrrr!