Wednesday, March 20, 2013

The British Chancellor of the Exchequer George Osborne delivered the budget today, an annually-held audit of the country’s finances deciding how taxpayers’ money should be spent. He set out plans to boost the housing market in his fourth budget, as well as stating the economy will grow by 0.6% — half his prediction four months ago.

George Osborne revealed plans to improve the housing market, including a “Help to Buy” shared equity scheme which would offer buyers who can place a 5% deposit on a new house, a 20% loan to buy it. He said: “This is a budget for those who aspire to own their own home”. He also offered a new Mortgage Guarantee, created in conjunction with mortgage lenders — the scheme would allow them to offer loans to homeowners without the need for a large deposit and offer guarantees to support up to £130bn of lending for three years beginning in 2014.

As a measure to attract investment to the British economy, he announced to reduce corporation tax from 21% to 20% taking effect from April 2015. The rate of corporation tax has fallen from 28% in 2010 to the current level of 21%. The United Kingdom is to have lower rates of corporation tax than the USA at 40%, France at 33%, and Germany at 29%.

The Office for Budget Responsibility (OBR) stated the government debt reduction programme to reduce the budget deficit will miss its targets. The government has forecast the total public sector debt will begin to fall by the financial year 2015/2016, while OBR says national debt will reach a high of 85.6% of GDP, £1.58 trillion, in 2016/17. Osborne defended the government efforts to reduce the deficit and said: “Our judgement has since been supported by the IMF, the OECD and the Governor of the Bank of England.”

In response to the Budget speech, the Leader of the Opposition Ed Miliband said: “At the worst possible time for the country. It’s a downgraded budget from a downgraded Chancellor […] Debt is higher in every year of this Parliament than he forecast at the last Budget. He is going to borrow £200 billion more than he planned.”

The Shadow Chancellor of the Exchequer Ed Balls said to The Independent, “They are borrowing £245bn more in this Parliament, we said all along …said this two years ago, if they had moved more quickly with a sensible, targeted package of measures to kick-start the economy, which would have meant at that time more borrowing for a VAT [Value Added Tax] cut to bring forward housing investment, then we would have got the economy growing and the deficit coming down.”

The Business Secretary Vince Cable told the BBC in an interview, the “age of austerity” would probably end within the current decade, but made no more definite forecast.

The head of the British Federation of Small Businesses, John Walker, said: “The Budget opens the door for small businesses to grow and create jobs. The Chancellor has pulled out all the stops with a wide ranging package of measures to support small business. […] [W]e are pleased to see the scrapping of the 3p fuel duty due in September”.

Len McCluskey, the General Secretary of Unite the Union, criticized the budget for not helping working families. He said: “This is a Budget for the few by the few that attacks the many. Millionaires are days away from getting a £40,000 tax cut from the Tories, but George Osborne is using the budget to attack hard-working public sector workers. The worst chancellor in British history has gone further by giving big business another tax cut while staff caring for the sick get pay cuts. […] [H]e should have raised the national minimum wage by £1 and drop the senseless plan to give millionaires a tax break in a few days’ time”.

Friday, July 15, 2011

On Tuesday, the Euro fell to a new record low in relation to the Swiss Franc, and to multi-month lows against the U.S. Dollar and Japanese yen; all considered by investors to be safe currencies during times of economic turmoil.

The Wall Street Journal reported earlier that recent comments from the newly installed head of the International Monetary Fund, France’s Christine Lagarde, resulted in a sell-off of the Euro. At a roundtable discussion in Washington, Lagarde noted that the IMF had not yet reached discussion of terms and conditions of a second Greek bailout plan. In fact, a representative from the IMF is currently meeting with Eurozone policymakers to draft such a new proposal. The yield differential between Italian bonds and German bonds has spread to more than 300 basis points, something not seen in over a decade and evidence of investors’ concern.

Adding to the Euro’s woes is the upcoming release of the bank stress tests on Friday. The European Bankers Association said that they expect the data release to shed new light on the Eurozone’s banking situation. Representatives of several of the Eurozone’s governments, including Germany, have requested that the association consider releasing fewer specific details for fear that investor panic will ensue. The inadequacy of the capitalization rates has been an issue with the European Central Bank, whose president recently called upon Eurozone banks to make every effort to put their balance sheets in order.

For the time being at least, an unsubstantiated rumor reported by the Wall Street Journal states that the Eurozone’s central banks’ purchase of periphery debt has helped to quell the downward momentum of the Euro.

Tuesday, June 27, 2006

Australian Minister for Vocational Education and Training, Gary Hardgrave has announced the government will provide AU$15.8 million to establish an Australian Technical College in North Adelaide. The minister said the government was entering into a partnership with the Archdiocese of Adelaide and consortium of industrial and manufacturing companies.

The North Adelaide college will be located in Elizabeth and be operated as an independent non-government school. The college is one of 25 to be established across the country.

Enrolments at the college will begin in 2007 and will offer courses in areas where identified skills shortages exist in the North Adelaide region, specifically – engineering, construction, electronics and cooking.

Mr Hardgrave said that the proposed college had been popular among the North Adelaide business community. “This important initiative has been well received by North Adelaide business and industry, and will help to address skills needs and provide opportunities for those in greatest need, including a lot of Indigenous students in the region,” Mr Hardgrave said.

“The fact that this College is being led by local employers, local government and other key stakeholders, means it will be truly industry and community driven,” he said.

Australian Technical Colleges were established to cater for year 11 and 12 students who wish to do an apprenticeship as part of their school education.

The Australian Education Union has expressed a number of concerns about the model put forward by the government. In a report, they claim that trade facilities at TAFE colleges (operated by state governments) will deteriorate as funding is diverted to the ATCs. The union is also concerned that ATCs are supposed to be selective VET schools. According to the union they will have selective entry and preferential funding. It is feared that teachers will be lured away from schools and TAFE colleges to higher paid positions in ATCs.

The Education Union suggested that the government invest in schools that already offer vocational education programs.

Thursday, December 18, 2008

Twin blasts, allegedly caused by improvised explosive devices, rocked two upscale malls in the main financial district in Aguinaldo Street in Iligan City on Thursday. At least three people were killed and forty-seven were wounded when two improvised crude bombs exploded and damaged the Unicity Commercial Center at 1:35 p.m. and the nearby Jerry’s Shoppers Plaza 10 minutes later.

The mall blasts occurred a day before President Gloria Macapagal-Arroyo’s scheduled visit to the City, her maternal hometown. Lanao del Norte police Superintendent Dimacuta Sanggacala said he “corrected the earlier report that six people had been killed, saying that some of those whom they thought were dead were seriously hurt.” “Forty-five people were injured and being treated at the Sanitarium City Hospital and Dr. Uy City Hospital,” he added.

The City of Iligan (Cebuano: Dakbayan sa Iligan; Filipino: Lungsod ng Iligan) is a highly urbanized city North of the province of Lanao del Norte, Philippines, and the province’s former capital. It is approximately 795 kilometers southeast of Manila with a population of 308,046 people as of 2007.

The provincial police said that CCTV video footages from both malls show two men both wearing scarfs, had placed the explosives inside bags and left at the package or baggage counters of the malls. An L-300 van was also destroyed in the blasts. The local SOCO forces, the Explosive Ordnance Disposal team (bomb experts) and the bomb-sniffing K9 unit of the 403rd Brigade were immediately dispatched to search the site for more victims.

Col. Nicanor Dolojan, commander of the Army’s 403rd said that “our suspect here are the lawless MILF group because of the type of the (improvised explosive device) that were used. That IED manifest their signature, using mortar rounds. Terrorism, which is their real intention, to sow terror in the area.That is our initial findings.” Iligan City Mayor Lawrence Cruz said that his local government received several “threats to bomb establishments – department stores, churches, schools, public places, and markets.”

Continuous clashes began in August between government troops and the Moro Islamic Liberation Front, after the High Court annulled a Memorandum of Agreement on peace. Reuters reported that “five people were wounded in two blasts on December 4 in another part of Mindanao, which army officials blamed on rogue Muslim rebels fighting a long-running insurgency in the south.” “There have been at least three bomb attacks on bus terminals in the south since July as violence escalated after Manila and the Moro Islamic Liberation Front (MILF), the country’s largest Muslim rebel group, failed to sign a territory deal in August.” it added. In November, three people were also injured in the blasts of the Traveler’s Inn and the Caprice Lodge in Iligan City.

The Abu Sayyaf Group (lang-ar????? ??? ????; Jam??ah Ab? Sayy?f, ASG), also known as ‘al-Harakat al-Islamiyya’ is one of several militant Islamist separatist groups based in and around the southern islands of the Philippines, in Bangsamoro (Jolo, Basilan, and Mindanao) where for almost 30 years various Muslim groups have been engaged in an insurgency for a state, independent of the predominantly Catholic Philippines.

The Times of India reported that “the southern Philippines region of Mindanao is the hotbed of a decades-old Muslim separatist insurgency that has, in recent years, been suspected of harbouring Islamic militants with ties to the al-Qaida network of Osama bin Laden.”

Saturday, December 5, 2009

According to Médecins Sans Frontières the health care system in Sierra Leone causes loss of life because the poor cannot afford medical treatment.The maternal death rate and the child mortality rate in Sierra Leone are the highest in the world.Experiences of Médecins Sans Frontières had shown that free care or low fees lead to a dramatic increase in the number of patients.Nonetheless the national health system of Sierra Leone demands payment for all treatment with simple consultations costing as much as 25 days of income.According to Action Against Hunger the number of children with acute malnutrition has reached almost twice the level of the WHO‘s emergency threshold of 2% in the Moyamba district of Sierra Leone.

The Los Angeles Times writes that Sierra Leone, in spite of decades of foreign aid, has not yet increased the standard of living of its people considerably and 60% of the public spending of Sierra Leone come from other governments and nonprofit organizations.Since 2002 the country received $1 billion in aid but the infant mortality rate is almost the highest in the world, lower than Angola but higher than Afghanistan. The newspaper further reports that the United Nations state that 1 in 8 Sierra Leonean women die giving birth, as compared to 1 in 4,800 in the United States and that life expectancy in Sierra Leone is merely 41 years while in Bangladesh life expectancy reaches 60 years.

The government of Sierra Leone had expressed its intend to abolish user fees for women and children with a new plan for a fairer health care system that was to be revealed on the Sierra Leone Investment and Donor Conference, which was held in London on November 18 and 19.

“The Sierra Leone government has publicly stated its commitment to abolish user fees, and the UK government and other donors have promised to help,” said Seco Gerard, advisor at Médecins Sans Frontières’s analysis and advocacy unit. “What is crucial now is that Sierra Leone actually receives the necessary funding and technical assistance to realise this objective. It is time that words are being followed up by concrete action. If not, people who could otherwise be saved will continue to die needlessly every day.”

The Telegraph reports that president Bai Koroma was also hoping to secure a significant increase in aid donations with his new health plan.While Germany declined to support president Bai Koroma’s “Agenda for Change” and urged to give more consideration to women’s welfare the country received support from the European Union, DFID, UNIPSIL, World Bank, IFAD and the African Development Bank. From the pledges of $850 million the government of Sierra Leone was hoping for only about $300 millions could be secured, with attached conditionalities concerning the use of funding.

In a presentation at the Ministry of Finance and Economic Development in Freetown the Unicef representative for Sierra Leone, Mr. Mahimbo Mdoe, expressed gratitude about a pledge of about $1.3 million conveyed by the Ambassador of Japan to Sierra Leone, His Excellency Mr. Keiichi Katakami, and about earlier donations to UNICEF-Sierra Leone in the past years, amounting to over $20 million.The intended application of the funding is the goal to half child and maternal mortality by 2010, to introduce a social health insurance scheme, to improve equipment and to train health professionals.

Thursday, January 29, 2009

Giving a cow a name and treating her as an individual with “more personal touch” can increase milk production, so says a scientific research published in the online “Anthrozoos,” which is described as a “multidisciplinary journal of the interactions of people and animals”.

The Newcastle University‘s School of Agriculture, Food and Rural Development’s (of the Newcastle University Faculty of Science, Agriculture and Engineering) researchers have found that farmers who named their dairy cattle Ermintrude, Daisy, La vache qui rit, Buttercup, Betsy, or Gertrude, improved their overall milk yield by almost 500 pints (284 liters) annually. It means therefore, an average-sized dairy farm’s production increases by an extra 6,800 gallons a year.

“Just as people respond better to the personal touch, cows also feel happier and more relaxed if they are given a bit more one-to-one attention,” said Dr Catherine Douglas, lead researcher of the university’s School of Agriculture, Food and Rural Development. “By placing more importance on the individual, such as calling a cow by her name or interacting with the animal more as it grows up, we can not only improve the animal’s welfare and her perception of humans, but also increase milk production,” she added.

Drs Douglas and Peter Rowlinson have submitted the paper’s conclusion: “What our study shows is what many good, caring farmers have long since believed. Our data suggests that, on the whole, UK dairy farmers regard their cows as intelligent beings capable of experiencing a range of emotions.” The scientific paper also finds that “if cows are slightly fearful of humans, they could produce [the hormone] cortisol, which suppresses milk production,” Douglas noted. “Farmers who have named their cows, probably have a better relationship with them. They’re less fearful, more relaxed and less stressed, so that could have an effect on milk yield,” she added.

South Norfolk goldtop-milk producer Su Mahon, one of the country’s top breeder of Jersey dairy herds, agreed with Newcastle’s findings. “We treat all our cows like one of the family and maybe that’s why we produce more milk,” said Mrs Mahon. “The Jersey has got a mind of its own and is very intelligent. We had a cow called Florence who opened all the gates and we had to get the welder to put catches on to stop her. One of our customers asked me the other day: ‘Do your cows really know their names?’ I said: I really haven’t a clue. We always call them by their names – Florence or whatever. But whether they really do, goodness knows,” she added.

The researchers’ comparative study of production from the country’s National Milk Records reveals that “dairy farmers who reported calling their cows by name got 2,105 gallons (7,938 liters) out of their cows, compared with 2,029 gallons (7,680 liters) per 10-month lactation cycle, and regardless of the farm size or how much the cows were fed. (Some 46 percent of the farmers named their cows.)”

The Newcastle University team which has interviewed 516 UK dairy farmers, has discovered that almost half – 48% – called the cows by name, thereby cutting stress levels and reported a higher milk yield, than the 54% that did not give their cattle names and treated as just one of a herd. The study also reveals cows were made more docile while being milked.

“We love our cows here at Eachwick, and every one of them has a name,” said Dennis Gibb, with his brother Richard who co-owns Eachwick Red House Farm outside of Newcastle. “Collectively, we refer to them as ‘our ladies,’ but we know every one of them and each one has her own personality. They aren’t just our livelihood, they’re part of the family,” Gibb explained.

“My brother-in-law Bobby milks the cows and nearly all of them have their own name, which is quite something when there are about 200 of them. He would be quite happy to talk about every one of them. I think this research is great but I am not at all surprised by it. When you are working with cows on a daily basis you do get to know them individually and give then names.” Jackie Maxwell noted. Jackie and her husband Neill jointly operate the award-winning Doddington Dairy at Wooler, Doddington, Northumberland, which makes organic ice cream and cheeses with milk from its own Friesian cows.

But Marcia Endres, a University of Minnesota associate professor of dairy science, has criticized the Newcastle finding. “Individual care is important and could make a difference in health and productivity. But I would not necessarily say that just giving cows a name would be a foolproof indicator of better care,” she noted. According to a 2007 The Scientist article, named or otherwise, dairy cattle make six times more milk today than they did in the 1990s. “One reason is growth hormone that many U.S. farmers now inject their cows with to increase their milk output; another is milking practices that extend farther into cows’ pregnancies, according to the article; selective breeding also makes for lots of lactation,” it states.

Critics claimed the research was flawed and confused a correlation with causation. “Basically they asked farmers how to get more milk and whatever half the farmers said was the conclusion,” said Hank Campbell, author of Scientific Blogging. In 1996, the Department for Environment, Food and Rural Affairs provided for a complex new cattle passport system where farmers were issued with passport identities. The first calf born under the new regime were given names like “UK121216100001.”

Dr Douglas, however, counters that England doesn’t permit dairy cattle to be injected hormones. The European Union and Canada have banned recombinant bovine growth hormone (rGBH), which increases mastitis infection, requiring antibiotics treatment of infected animals. According to the Center for Food Safety, rGBH-treated cows also have higher levels of the hormone insulin-like growth factor 1 (IGF1), which may be associated with cancer.

In August 2008, Live Science published a study which revealed that cows have strange sixth sense of magnetic direction and are not as prone to cow-tipping. It cited a study of Google Earth satellite images which shows that “herds of cattle tend to face in the north-south direction of Earth’s magnetic lines while grazing or resting.”

Newcastle University is a research intensive university in Newcastle upon Tyne in the north-east of England. It was established as a School of Medicine and Surgery in 1834 and became the “University of Newcastle upon Tyne” by an Act of Parliament in August 1963.

The School of Agriculture, Food and Rural Development is a school of the Newcastle University Faculty of Science, Agriculture and Engineering, a faculty of Newcastle University. It was established in the city of Newcastle upon Tyne as the College of Physical Science in 1871 for the teaching of physical sciences, and was part of Durham University. It existed until 1937 when it joined the College of Medicine to form King’s College, Durham.

Monday, January 25, 2010

Sales of previously owned homes in the US fell at the fastest rate ever recorded last December, according to data from the National Association of Realtors (NAR).

According to the association, existing home sales fell 16.7% last month, to an annual rate of 5.45 million, the largest crash since 1968. The figure was less than the 5.90 million units, or an eleven percent drop, predicted by most analysts.

Sales of homes went up for the entire of 2009 to 5.156 million units, or 4.9% for the year, and prices dropped from 2008 by 12.4%.

NAR chief economist Lawrence Yun described the figures as being “probably the largest annual drop since the Great Depression”. He said that “the market is going through a period of swings driven by the tax credit. We’re likely to have another surge in the spring. Job creation is the key to a continued recovery in the second half of the year.”

Pierre Ellis, a senior economist for Decision Economics in New York, commented on the figures, saying: “The drop in home sales is the payback for the acceleration of sales that occurred with the original first-time home buyers tax credit. […] There is an issue as to whether the decline represents a fundamental weakening.”

“The housing market continues to face significant headwinds, including high unemployment, record delinquencies and foreclosures, the specter of rising mortgage rates as the Fed’s [mortgage-backed securities] purchase programs comes to a close in late March, and tight credit,” Omair Sharif, an economist for RBS Securities, noted.

“Still, the resale market showed resilience in the second half of 2009, and the expansion and extension of the tax credit to April 30 could boost purchases during the spring selling season,” he said.

“We’ll see a pickup in existing home sales in the next couple of months as people take advantage of the tax-credit extension”, economist Adam York of Wells Fargo Securities LLC in Charlotte, North Carolina claimed. He fore-casted a pace of 5.4 million. He said that there were unlikely to be buyers of homes, despite the fact that the U.S. was “past the bottom.”

All four regions of the country saw a decline in sales. In the Northeast, sales fell 19.5 percent, in the Midwest, they plunged 25.8 percent. The South, the country’s largest region, saw a 16.3% decline, while in the West, sales waned by 4.8%.

US stocks fell slightly after the announcement, but went back up later in the day.

Thursday, June 23, 2011

NASA’s Cassini–Huygens spacecraft has discovered evidence for a large-scale saltwater reservoir beneath the icy crust of Saturn’s moon Enceladus. The data came from the spacecraft’s direct analysis of salt-rich ice grains close to the jets ejected from the moon. The study has been published in this week’s edition of the journal Nature.

Data from Cassini’s cosmic dust analyzer show the grains expelled from fissures, known as tiger stripes, are relatively small and usually low in salt far away from the moon. Closer to the moon’s surface, Cassini found that relatively large grains rich with sodium and potassium dominate the plumes. The salt-rich particles have an “ocean-like” composition and indicate that most, if not all, of the expelled ice and water vapor comes from the evaporation of liquid salt-water. When water freezes, the salt is squeezed out, leaving pure water ice behind.

Cassini’s ultraviolet imaging spectrograph also recently obtained complementary results that support the presence of a subsurface ocean. A team of Cassini researchers led by Candice Hansen of the Planetary Science Institute in Tucson, Arizona, measured gas shooting out of distinct jets originating in the moon’s south polar region at five to eight times the speed of sound, several times faster than previously measured. These observations of distinct jets, from a 2010 flyby, are consistent with results showing a difference in composition of ice grains close to the moon’s surface and those that made it out to the E ring, the outermost ring that gets its material primarily from Enceladean jets. If the plumes emanated from ice, they should have very little salt in them.

“There currently is no plausible way to produce a steady outflow of salt-rich grains from solid ice across all the tiger stripes other than salt water under Enceladus’s icy surface,” said Frank Postberg, a Cassini team scientist at the University of Heidelberg in Germany.

The data suggests a layer of water between the moon’s rocky core and its icy mantle, possibly as deep as about 50 miles (80 kilometers) beneath the surface. As this water washes against the rocks, it dissolves salt compounds and rises through fractures in the overlying ice to form reserves nearer the surface. If the outermost layer cracks open, the decrease in pressure from these reserves to space causes a plume to shoot out. Roughly 400 pounds (200 kilograms) of water vapor is lost every second in the plumes, with smaller amounts being lost as ice grains. The team calculates the water reserves must have large evaporating surfaces, or they would freeze easily and stop the plumes.

“We imagine that between the ice and the ice core there is an ocean of depth and this is somehow connected to the surface reservoir,” added Postberg.

The Cassini mission discovered Enceladus’ water-vapor and ice jets in 2005. In 2009, scientists working with the cosmic dust analyzer examined some sodium salts found in ice grains of Saturn’s E ring but the link to subsurface salt water was not definitive. The new paper analyzes three Enceladus flybys in 2008 and 2009 with the same instrument, focusing on the composition of freshly ejected plume grains. In 2008, Cassini discovered a high “density of volatile gases, water vapor, carbon dioxide and carbon monoxide, as well as organic materials, some 20 times denser than expected” in geysers erupting from the moon. The icy particles hit the detector target at speeds between 15,000 and 39,000 MPH (23,000 and 63,000 KPH), vaporizing instantly. Electrical fields inside the cosmic dust analyzer separated the various constituents of the impact cloud.

“Enceladus has got warmth, water and organic chemicals, some of the essential building blocks needed for life,” said Dennis Matson in 2008, Cassini project scientist at NASA’s Jet Propulsion Laboratory in Pasadena, California.

“This finding is a crucial new piece of evidence showing that environmental conditions favorable to the emergence of life can be sustained on icy bodies orbiting gas giant planets,” said Nicolas Altobelli, the European Space Agency’s project scientist for Cassini.

“If there is water in such an unexpected place, it leaves possibility for the rest of the universe,” said Postberg.