Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

Tuesday, April 12, 2005

A National Academy of Sciences report (.pdf) last year said that while the milk and meat from cloned animals would not likely make anyone sick, more research should be performed. Now, a new US-Japan study published in the April 11 online issue of the Proceedings of the National Academy of Sciences says that milk and meat from cloned cattle does indeed appear to meet industry standards and appears to be safe for human consumption.

As BBC News reports, the scientists, led by Professor Jerry Yang from the University of Connecticut, compared the produce from two beef and four dairy clones, all derived from a single Holstein dairy cow and a single Japanese black bull, with the produce from normal animals of similar age and breed.

The meat was analysed against more than 100 physiological, tissue and cellular components, while the milk was analysed for protein, fat and other variables. No significant differences between the produce of cloned and normal cattle were found. Higher levels of fat and fatty acids were found in the cloned cow meat, but they still fell within beef industry standards.

While the study showed the cloned produce to be within the range approved for human consumption, the scientists stressed that the research was still in its early stages. Their findings, they said, provide “guidelines” for further research with larger numbers of clones from different genetic backgrounds.

Cloning livestock may one day increase yields by copying those animals that are especially productive and especially resistant to disease.

“The milking production levels in the US are three to four times higher than levels in China; maybe even five times or more compared to cows in India and some other countries,” Professor Jerry Yang told BBC News. “Therefore cloning could offer technology for duplicating superior farm animals. However, all the products from these cloned animals must be safe for human consumption. …and it is a major issue for scientists to provide a scientific basis for the data and information to address this question.”

As USA Today reports, there is currently no law governing the sale of meat or milk from the estimated 1,000 to 2,000 cloned farm animals in the USA. But since 2003, the US Food and Drug Administration (FDA) has asked producers to voluntarily keep the meat and milk of these animals, and that of their offspring, out of the food supply.

Wired News reports that companies like ViaGen and Cyagra, which offer livestock-cloning services, have also been waiting for several years for a final say from the FDA.

“For the United States agricultural industry, (cloning) can reduce the number of cows necessary for milking,” said Jerry Yang “They can have a pleasant environment and produce even more milk.” He also said that cloning cattle from the United States, where genetic breeding is more advanced, could save developing countries 50 years of breeding.

The idea of cloning animals for human consumption is not without its critics. First, there are the welfare concerns, as most cloned animals do not make it to term before being born, and many of those that do are born deformed or prone to illness. The Humane Society of the United States has asked for a ban on milk and meat from clones for just this reason. Second, there is still the concern that healthy clones may have subtle defects that could make their food products unsafe to eat.

As the Washington Post reports, some critics are asking why it is necessary to clone cows that produce huge amounts of milk when surpluses, rather than shortages, are the main problem facing the U.S. dairy industry today.

Friday, March 28, 2008

2008 Taipei International Cycle Show (Taipei Cycle) & Taipei International Sporting Goods Show (TaiSPO) not only did a best reunion with conjunctions of the launch of Taipei World Trade Center Nangang Exhibition and the concurrent cycling race of 2008 Tour de Taiwan but also provide opportunities and benefits for sporting goods, bicycle, and athlete sports industries to establish the basis of the sourcing center in Asia and notabilities on the international cycling race.

Although the Taipei cycle was split from the TaiSPO since 1988, but the trends of sporting good industry in Taiwan changed rapidly and multiply because of modern people’s lifestyles and habits. After the “TaiSPO Innovation Award” was established since 2005, the fitness and leisure industries became popular stars as several international buyers respected on lifestyle and health.

For example, some participants participated Taipei Cycle and TaiSPO with different product lines to do several marketing on bicycle and fitness equipments, this also echoed the “Three New Movements” proposed by Giant Co., Ltd. to make a simple bicycle with multiple applications and functions. As of those facts above, Wikinews Journalist Rico Shen interviewed Ideal Bike Corporation and Gary Silva, designer of “3G Steeper” to find out the possibilities on the optimizations between two elements, fitness and bicycle.

Wednesday, April 2, 2008

Seven year old Hser Nar Moo, who went missing from her home in South Salt Lake, Utah Tuesday, has been found dead less than 100 feet from her home.

South Salt Lake Police Chief Chris Snyder said at a news conference, “Once inside the apartment, they observed some evidence that led them to the bathroom of the apartment, where they discovered the body of Hser Nay Moo.”

It has not been made public how the girl died. “There is some trauma present, and that’s all I’m going to say,” Snyder said.

As of Wednesday morning, police have five men in custody for questioning. Witnesses say that four of them are Burmese immigrants living in the same apartment complex as the child’s family.

Nar Moo was last seen alive at her home on Monday at around 2:00 PM MDT (UTC-6), and was reported missing at around 6:30 PM. An AMBER alert was issued at 9:42 AM yesterday, before her body was found in the bathroom of a neighbor.

The seven year old Asian girl was described as being 3 feet 8 inches tall, weighing about 45 lbs, with brown eyes and long black hair. She was wearing a pink dress to her knees and pink Croc shoes at the time when she went missing.

Police reported that she spoke very little English, though she did understand some. It is believed her family is from Burma.

The AMBER Alert issued yesterday is no longer active because of the discovery of the body.

Sunday, January 27, 2008

Viktor Schreckengost, the father of industrial design and creator of the Jazz Bowl, an iconic piece of Jazz Age art designed for Eleanor Roosevelt during his association with Cowan Pottery died yesterday. He was 101.

Schreckengost was born on June 26, 1906 in Sebring, Ohio, United States.

Schreckengost’s peers included the far more famous designers Raymond Loewy and Norman Bel Geddes.

In 2000, the Cleveland Museum of Art curated the first ever retrospective of Schreckengost’s work. Stunning in scope, the exhibition included sculpture, pottery, dinnerware, drawings, and paintings.

Monday, October 30, 2017

At the request of Puerto Rico Governor Ricardo Rosselló, the Puerto Rican Electric Power Authority (PREPA) yesterday announced it has cancelled a US$300 million contract with a Montana-based company called Whitefish Energy Holdings amid concerns it may have been awarded improperly and the prices may be unusually high. Whitefish was to have rebuilt parts of the United States commonwealth’s energy infrastructure, which was recently destroyed when Hurricane Maria struck the island.

According to Whitefish spokesperson Chris Chiames, Whitefish was “very disappointed” and may consider a lawsuit. He also said about 350 Whitefish employees have been working on Puerto Rico for the past month, and their efforts will restore power to much of San Juan soon. He noted, “We will certainly finish any work that [PREPA] wants us to complete and stand by our commitments.” According to Governor Rosselló, Whitefish has already been paid eight million dollars.

The U.S. Federal Emergency Management Agency (FEMA) questioned whether the prices negotiated were reasonable and how Whitefish came to be awarded the contract. Whitefish is two years old, when the contract was signed only two people worked for it full-time, and it has connections to the current U.S. Secretary of the Interior. According to PREPA head Ricardo Ramos, FEMA approved the Whitefish deal, but FEMA officials said they did not.

Whitefish is based in the town of Whitefish, Montana, the hometown of Ryan Zinke, who is currently serving as U.S. Secretary of the Interior in the administration of the US President Donald Trump. Zinke and Andy Techmanski, Whitefish’s chief executive, are acquaintances, and Zinke’s son worked for Whitefish one summer. The founder of one of Whitefish’s financial backers, HBC Investments, has made nontrivial campaign contributions to Republicans and specifically to Trump.

Zinke told the public, “I had absolutely nothing to do with Whitefish Energy receiving a contract in Puerto Rico[…] Any attempts by the dishonest media or political operatives to tie me to awarding or influencing any contract involving Whitefish are completely baseless.”

Zinke also posted online, “Only in elitist Washington DC would being from a small town be considered a crime.”

The head of the U.S. House of Representatives natural resource committee, Republican Rob Bishop, has sent PREPA a letter requesting documentation of the deal and an explanation of the means by which it was made.

Maria Cantwell, a Democrat serving on the Senate Committee on Energy and Natural Resources called for “an investigation to determine how we got into this situation in the first place,” saying “taxpayers should pay a fair rate for the emergency repairs Puerto Rico desperately needs, […] not be gouged by Whitefish Energy or anyone else.”

According to the Associated Press, in one copy of the Whitefish contract, each employee would be paid a US$80 food allowance each day, and US$1000 each time they fly to or from the mainland U.S., with hourly pay rates for foremen, linemen and mechanics in the hundreds of dollars.

The federal control board in charge of Puerto Rico’s finances recently said they had appointed retired Air Force Colonel Noel Zamot to oversee the restoration of Puerto Rico’s power infrastructure, but Governor Rosselló said Puerto Rico’s own government is responsible for the power company, which has debts in the billions.

The category 4 Hurricane Maria struck Puerto Rico several weeks ago with high winds and intense rain. About 70% of Puerto Rico still has no electricity.

Puerto Rico was colonized by Spain and came under U.S. control in the Spanish-American War in 1898, along with Guam and the Philippines. Every person born in Puerto Rico is a United States citizen by birth. Puerto Rican residents do not participate in national elections, and have a non-voting representative in the U.S. congress. Mostly, they are exempt from federal income tax but not other federal taxes.

Monday, March 2, 2009

With a Queensland state election coming up in Australia, many minor parties will be looking to hold balance of power and making the major parties listen to what they have to say. The Socialist Alliance (SA) is one of these parties.

SA is a left-wing political party. There stated describes itself as an anti-capitalist party which believes in “a democratic society that is run by and for working people, not the tiny, greedy, destructive elite that now rules.”

It should be noted that SA is not registered for Queensland elections due to what they describe as “restrictive rules for registration.” Their candidates will run as independents. They are, however, registered for federal elections and elections in other states.

Queensland’s unicameral parliament is up for election on March 21. The election campaign will run for a total of 26 days following the issue of the writs by Governor Penelope Wensley.

Wikinews held an exclusive interview with the SA. Answering on behalf of the party was Queensland State Gonvenor Paul Benedek.

Saturday, February 3, 2018

On Wednesday, English football club Chelsea FC announced signing French forward Olivier Giroud from cross-town rivals Arsenal FC on a eighteen-month contract. The deal is reportedly worth about £18 million. Olivier Giroud is to wear jersey number 18, the club announced via their website.

31-year-old Giroud joined The Gunners in 2012. Since then, the Frenchman has played 253 games for Arsenal and scored 105 goals. During his tenure at the Emirates Stadium, Giroud has won three FA Cups. He has also won the Community Shield trophy with Arsenal.

Giroud remarked on joining The Blues, “Chelsea is one of the biggest teams in the Premier League. They have won maybe the most trophies in the last six or seven years. It’s a massive club and I am proud to sign for Chelsea, and I’m looking forward to playing.”

Chelsea loaned Belgian forward Michy Batshuayi to German club Borussia Dortmund. Giroud’s departure from Arsenal was announced shortly after Arsenal announced signing Gabonese striker Pierre-Emerick Aubameyang from Dortmund for about £56 million making him the costliest player in Arsenal’s history.

Monday, March 20, 2006

Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses.

Janet Evans of Marion Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because I didn’t even know what he was talking about. I didn’t know I got a bone graft until I got this call. I just thought they put in screws and rods.”

The body of Alistair Cooke, the former host of “Masterpiece Theatre,” was supposedly looted along with more than 1,000 others, according to two law enforcement officials close to the case. The tissue taken was typically skin, bone and tendon, which was then sold for use in procedures such as dental implants and hip replacements. According to authorities, millions of dollars were made by selling the body parts to companies for use in operations done at hospitals and clinics in the United States and Canada.

A New Jersey company, Biomedical Tissue Services, has reportedly been taking body parts from funeral homes across Brooklyn, New York. According to ABC News, they set up rooms like a “surgical suite.” After they took the bones, they replaced them with PVC pipe. This was purportedly done by stealth, without approval of the deceased person or the next of kin. 1,077 bodies were involved, say prosecuters.

Investagators say a former dentist, Michael Mastromarino, is behind the operation. Biomedical was considered one of the “hottest procurement companies in the country,” raking in close to $5 million. Eventually, people became worried: “Can the donors be trusted?” A tissue processing company called LifeCell answered no, and issued a recall on all their tissue.

Cooke’s daughter, Susan Cooke Kittredge, said, “To know his bones were sold was one thing, but to see him standing truncated before me is another entirely.” Now thousands of people around the country are receiving letters warning that they should be tested for infectious diseases like HIV or hepatitis. On February 23, the Brooklyn District Attorney indicted Mastromarino and three others. They are charged with 122 felony counts, including forgery and bodysnatching.