Tag Archive | "three times"

LA Judge Grants Charlie Sheen and Wife a Divorce

A Los Angeles judge granted Charlie Sheen and wife a divorce last Thursday. However, they still have to wait three months until it becomes official.

Charlie Sheen and Brooke Sheen both filed divorce petitions in court last November 2010. They stated December 25, 2009 the day they broke up, which was the date Charlie Sheen was detained in Colorado because of alleged domestic violence against his wife.

Judge Hank Goldberg used Charlie Sheen’s petition in court. He approved Sheen’s divorce petition against his wife. However, since divorces in California can only become legal once six months have passed, the former couples still have to wait until May 2 for them to become legally separated.

Before their wedding in May 2008, the Sheens made a prenuptial agreement that required Charlie Sheen to compensate Brooke Sheen an amount in excess of $750,000. Court record shows the actor will keep their home in Hollywood Hills, but other royalties will be divided to both parties.

Legal custody of their twin sons will be shared. Brooke Sheen has been granted with physical custody while considerable visitation time is given for the actor. Charlie Sheen is obliged to pay $55,000 per month for child support based on the agreement filed in court.

The verdict comes after several chaotic months for the actor. His show “Two and a Half Men” was postponed while he received treatment for conditions not specified. He has been admitted in the hospital three times in the past months.

The actor has expressed gratitude to his fans and employers for their continued support. He is hoping to begin taping “Men” later this month, his spokesman said.

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Bank of Canada Says Household Debt Might Subside to Manageable Level

Bank of Canada Governor Mark Carney sees the high levels of household debt decreasing to more manageable levels. However, Carney warned people to remain vigilant.

Carney said an interview with the Canadian Broadcasting Corporation that the time to give warning is when people can still do something about it, and the household debt side is part of that trend they are concerned about.

In addition, they expect that the pace of household borrowing will slow to something more manageable and consumption will grow more in line with income. The situation might become manageable, but Carney says they still have to collectively stay on top of it.

Carney’s interview with the broadcasting corporation was taped December 15; however it was aired on television on Wednesday.

In the interview, he also said that he had raised the key interest rate of the bank three times between the period of June and September to 1 percent since the economy of Canada performed relatively well in comparison with other advanced economies. Canada’s labor market also performed exceptionally well.

However, the major risk that could affect the Canadian economy in 2011 is the possibility for continued weakness in the U.S recovery. Yet, Carney informed it is unlikely for a double-dip recession to occur in the United States.

He also said that European crisis in debt might also directly affect the Canadian growth through the financial sector. Right now, Canada’s provincial and federal government debt levels are in good shape based on the global standards.

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International Bankers Warn Against Effect of Speeding Basel Timetable

International bankers warn that forcing several financial establishments to reach up with the new capital requirements too fast could

greatly hurt the economies around the world.

As a result of the Basel III agreement that 27 countries have settled last month, individual countries might push their banks to meet with the new capital and liquidity standards before the deadline on year 2019.

According to the chief executive of Deutsche Bank, Josef Ackerman, there really is a great concern when national governments accelerate the phasing in process on the finance industry.

Ackerman, the chairman of the Institute of International Finance, which is holding its yearly meeting in Washington this weekend, warns along with other bankers that global economy is still fragile. Forcing the capital standards too quickly could already throttle the economy even before it has recovered.

The Basal III agreement states that banks should get top-quality capital equivalent to a total of 7-percent of their risk-bearing assets. That is three times more than the current standards so they can better endure financial shocks and downturns on the economy.

They have until 2015 to meet the minimum core Tier capital requirement; that is, at least 4.5 percent of assets. By 2019, they should have additional 2.5 percent, which is called the capital conservation buffer.

Even the regulators who attended the event treated the idea that the timetable would be moved up as less important, thinking that the new requirements will not impact the economies around the world negatively.

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