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Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Wednesday, November 7, 2007

Bindeez beads, a children’s toy from Australia and manufactured by Moose Enterprise in Hong Kong, is being pulled off toy store shelves in the United Kingdom after traces of an illegal drug, which is converted into gamma-Hydroxybutyric acid (GHB) when ingested, was found inside the toy. At least 20 million toys are affected.

So far at least three children from the U.K. and at least two from Auckland, New Zealand have fallen seriously ill and are currently receiving medical attention. The toy is also sold in the United States as Aqua Dots, with two reports received by the U.S. Consumer Product Safety Commission (CPSC) of children needing hospitalization after ingesting the beads.

“We’ve asked all our customers to take them off the shelf while we retest everything to make sure the toys comply with all regulations,” said the company in a statement, although no mandatory recall has been issued for the product. The statement also says that the plant in Hong Kong was not using a chemical mixture approved by the company.

“This substitution was not at any time approved by Moose nor was Moose made aware of any substitution by the supplier,” added the statement.

The toys were supposed to contain a non-toxic chemical known as 1,5-pentanediol, but instead 1,4-butanediol, which is mainly used in creating the illegal drug GHB, was used in the toys. When humans consume 1,4-butanediol, the body converts it into GHB and could make the individual seriously ill, causing headaches, seizures, dizziness and in some cases death. GHB is a natural chemical found in a variety of things such as beef, wine and some varieties of citrus fruits. It is also used as a pharmaceutical which is sold as Xyrem.

Recent animal research indicates that drugs are available for human use which may work as antidotes to the poison, either by hindering its conversion to GHB with 4-methylpyrazole (fomepizole, Antizol) or by blocking GHB’s effectiveness at the receptor (SCH 50911). Rodent testing has found the lethal dose of 1,4-butanediol to range from 1.4 to 2.5 grams per kilogram body weight, but an antidote can increase the lethal dose by a factor of 10.

It is not known how the chemicals got mixed up, but officials for the toy company say that they are continuing the investigation. The toy is currently banned in all of Australia, but the company says all those who bought it will be refunded their money.

“The issue of how a dangerous substance was used in these beads and not the non-toxic substance … that is going to take us a few more days to uncover,” said Australia’s Fair Trade Minister, Linda Burney in a statement to the press.

The toy was recently named Australia’s number one toy for 2007.

Friday, April 15, 2005

The last British-owned volume car manufacturer, MG Rover, has closed down, with the loss of 5,000 jobs.

International accounting firm PriceWaterhouseCooper was brought in last week to put the company into administration. Today PwC announced that MG Rover’s only hope, the Chinese car company SAIC, had no interest in buying the ailing firm. With no further source of revenue, PwC has closed the company’s factory in Longbridge, Birmingham and has laid off 5,000 workers.

Some 1,000 workers will continue for a while to complete the remaining cars left on the production line.

The BBC reported PwC joint administrator Tony Lomas as saying “We’ll explore what we would describe as the break-up of the business, we will carry on with the interested parties who want to talk about pieces of the business.”. PwC said around 70 offers for various parts of the company had been made but no serious offers of money made.

Recent efforts to save the company had been centered on convincing SAIC (Shanghai Automotive Industry Corp.) to buy the company as a going concern, but the Chinese company stated it would only buy the company if it’s financial position could be guaranteed to be secure for at least two years. The British government could not make such a commitment due to European Union trade and competition rules.

The SAIC company did buy the designs for the 75 and 25 models and for the K-Series engines for £67m.

The Rover car company has a long but troubled history. It was formed in 1968 after a series of mergers of existing car manufacturers, and was nationalized in 1975 after it ran into financial difficulties. In 1979 a long-running deal to collaborate on developing new vehicles was established with the Japanese company Honda. In 1988 the company was privatized and was bought by British Aerospace. In 1994 British Aerospace sold the business to BMW, who then sold the Land Rover brand to Ford and finally sold the company in 2000 for just £10, retaining the well-known Mini brand for themselves. The MG Rover company was run by a private group until its collapse.

MG Rover has not launched a new model since the 75 was introduced in 1998 during the period of ownership by BMW. Their next newest model was the 25, originally launched as the 200 series some ten years ago. Rover also produced the 45, which dates from 1990, and the ZF sports car first launched in 1995. Sales of Rover cars accounted for just 3% of the UK car market in 2004.

Tony Blair announced a £150 million support package for the recently unemployed workers of the MG Rover plants, though it has been claimed that his generous offer may be more as a result of the nearby marginal seats in the upcoming elections than compassion on his part.

Wednesday, June 15, 2022

A long-standing and mainly good-natured border dispute between Canada and Denmark over the uninhabited Hans Island in the Arctic Sea is to be resolved, with the Danish Foreign Ministry confirming Tuesday the nations have agreed to divide it in two.

The agreement, which awaits parliamentary approval before it can be fully ratified, sees Hans Island split almost equally between Canada and Denmark, with the border to follow a naturally occurring cleft on the island. It is mainly a symbolic agreement, and serves as a show of unity and cooperation between the two NATO countries. It follows the 2018 establishment of a working group between the two countries with the aim of resolving the dispute, termed the ‘Whisky War’.

The dispute arose as Hans Island is of a roughly equal distance between Canada’s Ellesmere Island and Greenland, a territory of Denmark. It dates to 1971, but the name arose after Canadian troops left the Canadian flag and a bottle of Canadian whisky on the island in 1984. Denmark’s Greenland affairs minister Tom Høyem responded by visiting the island, replacing the Canadian flag with Denmark’s, and leaving a bottle of Danish schnapps.

This developed into a tradition where officials, scientists and soldiers from both Canada and Denmark visited the island to remove the other side’s flag, raise their own and leave either Canadian whisky or Danish schnapps for the other side to find.

In a press release, Canadian foreign affairs minister Mélanie Joly called the Arctic region a “beacon for international cooperation, where the rule of law prevails”. Joly added “as global security is being threatened, it’s more important than ever for democracies like Canada and the Kingdom of Denmark to work together, alongside Indigenous peoples, to resolve our differences in accordance with international law.”

Her Danish counterpart, Jeppe Kofod, noted that sovereignty over the island had been in contention “for more than 50 years”, and that “efforts” between the two nations “demonstrate our firm common commitment to resolve international disputes peacefully”. Kofod said that he hoped “our negotiation and the spirit of this agreement” would inspire other nations, and that it was “much needed at a time when respect for the international rules-based order is under pressure”.

Saturday, August 2, 2008

Reuters, AFP, the Associated Press are reporting that a gas explosion in a Turkish school killed at least seventeen girls Friday.

Reuters reports the initial death toll at sixteen, with 27 injured. The number of deaths later rose to 17 when a body was removed from the rubble. Two survivors were pulled from the rubble as rescuers worked into the night. One girl is still missing.

“We won’t stop until we find her,” village mayor Mehmet Demirgul, told the Associated Press.

About fifty students and teachers were in the school, where some had gathered on for Islamic study in the three-story structure in the village of Balcilar, near Taskent in the Konya province .

Merve Avci, a 13-year-old, slightly injured student spoke to the Anatolian news agency: “I was in the part of the building which didn’t collapse with five of my friends immediately after the explosion, and we felt flames rising from the downstairs to upper floors.”

Anatolian says that Avci was in the process of washing before pre-dawn prayers, when a noise in the building’s kitchen led Avci and some teacher to investigate. She says she saw a loose gas pipe before being ordered back to her room. She says she smelled gas coming from somewhere above her room before the explosion.

“We think the collapse was caused by a gas canister explosion in the building, given the burns on the injured,” Konya province health service official Galip Sef told Reuters.

Mayor Demirgul said a leak in a pipe carrying liquefied petroleum gas is the probable cause of the pre-dawn blast.

“We are hearing voices. I believe those inside the rubble will be saved,” Demirgul told reporters, according to the Associated Press and Reuters.

The Associated Press reports that a small portion of all three stories of the building were left standing. This is confirmed by images displayed on the Reuters website.

The building is owned by a religion foundation and is under investigation when Turkish authorities found an non-approved annex to the structure, according to AFP.

The explosion is unrelated to the bomb blast in northern Turkey on July 28.

Monday, November 28, 2005

SpaceX called off the much-delayed inaugural launch of their new Falcon 1 rocket on Saturday from Kwajalein’s Omelek Island launch site. The intent was to launch the U.S. Air Force Academy’s FalconSat 2 satellite, which will monitor plasma interactions with the Earth’s upper atmosphere and magnetosphere.

The launch was delayed, then finally cancelled after an oxygen boil-off vent had accidentally been left open. The oxygen was unable to cool the helium pressurant, which then proceeded to evaporate faster than it could be replenished. A main computer issue, probably serious enough to cause a scrub on its own, was also discovered.

This long-anticipated flight was originally expected to be launched in January 2005, however a series of setbacks forced a series of delays, with the flight most recently scheduled to be in early 2006. It was intended to be launched from the Kwajalein atoll in the middle of the Pacific Ocean.

The maiden voyage was originally intended to launch from Vandenberg Air Force Base in California with a Naval Research Laboratory satellite and a Space Services Incorporated space burial payload.