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Tuesday, May 22, 2007

Speaking in Washington Tuesday at the conclusion of the China-U.S. trade summit, Chinese Vice Premier Wu Yi warned the U.S. not to pursue a ‘blame game’ in continued trade negotiations. “We should not easily blame the other side for our own domestic problems,” Wu said, speaking through an interpreter. “Confrontation does no good at all to problem-solving.”

The valuation of the Chinese Yuan has been closely tied to the U.S. Dollar for years. Critics charge that this resulted in a relatively low value, making Chinese goods cheaper in the U.S., contributing to the current trade imbalance that favours China.

Although the Chinese government expanded the band in which the Yuan can float (relative to the U.S. Dollar) from 0.3 percent to 0.5 percent last Friday, critics say the measure doesn’t go far enough to address the U.S. trade deficit. Members of the U.S. Congress have blamed China’s policy of currency manipulation for the rising trade imbalance and a 16 percent drop in manufacturing jobs since 2000. In 2006, U.S. imports from China exceeded exports by US$232.5 billion, almost one third of the total trade deficit of US$765.3 billion.

In April, the U.S. Department of Commerce filed a WTO piracy complaint against China. Subsequently, China has agreed to talks and has issued some internal guidelines to address the issue. Wu said that both sides should “firmly oppose trade protectionism.” She said that any effort to “politicize” the economic relationship between the two nations would be “absolutely unacceptable.”

“The Chinese government will agree to U.S. demands” on piracy, predicted Albert Louie, in April, about the upcoming talks. Louie is the managing partner of A. Louie Associates, an anti-piracy company in based in China. “There is no question the government wants to crack down on counterfeiters. What remains in question is the consistency of enforcement,” he added.

The U.S. delegation also highlighted food safety as a concern with imports from China. The example of melamine-tainted pet food ingredients imported from China recently was used as an example of weak health and environmental controls in China. U.S. trade delegate Susan Schwab said the issue of food safety was raised by Agriculture Secretary Mike Johanns and Health and Human Services Secretary Michael Leavitt. “This is not necessarily reflective of more protectionism or anti-Chinese sentiment, but rather that there are concerns there and we need to be responsive,” said Schwab.

It is hoped that breakthroughs will be reached on issues such as U.S. complaints of high Chinese import duties on U.S. energy technology products and the restriction on U.S. airline flights to China.

In the US Congress, a number of potential bills that would impose trade restrictions on China, are being pursued. Recently, a trade panel voted to impose a 44.3 percent tariff on polyester imports. Meanwhile, the Bush administration increased duties on certain types of glossy paper from China. A bill imposing 27 percent tariff on all Chinese goods has been proposed in Congress but hasn’t yet passed.

“The frustration that I and many of my colleagues in the Senate feel is that China is not satisfying its obligations as a member of the WTO and as a major beneficiary of open trade,” wrote Charles Grassley, chairman of the Senate Finance Committee, in a letter sent to Wu in advance of the summit.

Tuesday, August 31, 2010

Every September, the Apple iPod is redesigned. Last year saw the release of the iPod Nano 5th generation, bringing a video camera and a large range of colours to the Nano for the first time. But as Apple again prepares to unveil a redesigned product, the company has released their quarterly sales figures—and revealed that they have sold only 9m iPods for the quarter to June—the lowest number of sales since 2006, leading industry anylists to ponder whether the world’s most successful music device is in decline.

Such a drop in sales is not a problem for Apple, since the iPhone 4 and the iPad are selling in high numbers. But the number of people buying digital music players are concerning the music industry. Charles Arthur, technology editor of The Guardian, wrote that the decline in sales of MP3 players was a “problem” for record companies, saying that “digital music sales are only growing as fast as those of Apple’s devices – and as the stand-alone digital music player starts to die off, people may lose interest in buying songs from digital stores. The music industry had looked to the iPod to drive people to buy music in download form, whether from Apple’s iTunes music store, eMusic, Napster or from newer competitors such as Amazon.”

Mark Mulligan, a music and digital media analyst at Forrester Research, said in an interview that “at a time where we’re asking if digital is a replacement for the CD, as the CD was for vinyl, we should be starting to see a hockey-stick growth in download sales. Instead, we’re seeing a curve resembling that of a niche technology.” Alex Jacob, a spokesperson for the International Federation of the Phonographic Industry, which represents the worldwide music industry, agreed that there had been a fall in digital sales of music. “The digital download market is still growing,” they said. “But the percentage is less than a few years ago, though it’s now coming from a higher base.” Figures released earlier this year, Arthur wrote, “show that while CD sales fell by 12.7%, losing $1.6bn (£1bn)in value, digital downloads only grew by 9.2%, gaining less than $400m in value.”

Expectations that CDs would, in time, become extinct, replaced by digital downloads, have not come to light, Jacob confirmed. “Across the board, in terms of growth, digital isn’t making up for the fall in CD sales, though it is in certain countries, including the UK,” he said. Anylising the situation, Arthur suggested that “as iPod sales slow, digital music sales, which have been yoked to the device, are likely to slow too. The iPod has been the key driver: the IFPI’s figures show no appreciable digital download sales until 2004, the year Apple launched its iTunes music store internationally (it launched it in the US in April 2003). Since then, international digital music sales have climbed steadily, exactly in line with the total sales of iPods and iPhones.”

Nick Farrell, a TechEYE journalist, stated that the reason for the decline in music sales could be attributed to record companies’ continued reliance on Steve Jobs, CEO of Apple, saying that they had considered him the “industry’s saviour”, and by having this mindset had forgotten “that the iPod is only for those who want their music on the run. What they should have been doing is working out how to get high quality music onto other formats, perhaps even HiFi before the iPlod fad died out.”

When Jobs negotiated a deal with record labels to ensure every track was sold for 99 cents, they considered this unimportant—the iPod was not a major source of revenue for the company. However, near the end of 2004, there was a boom in sales of the iPod, and the iTunes store suddenly began raking in more and more money. The record companies were irritated, now wanting to charge different amounts for old and new songs, and popular and less popular songs. “But there was no alternative outlet with which to threaten Apple, which gained an effective monopoly over the digital music player market, achieving a share of more than 70%” wrote Arthur. Some did attempt to challenge the iTunes store, but still none have succeeded. “Apple is now the largest single retailer of music in the US by volume, with a 25% share.”

The iTunes store now sells television shows and films, and the company has recently launced iBooks, a new e-book store. The App Store is hugely successful, with Apple earning $410m in two years soley from Apps, sales of which they get 30%. In two years, 5bn apps have been downloaded—while in seven years, 10bn songs have been purchased. Mulligan thinks that there is a reason for this—the quality of apps simply does not match up to a piece of music. “You can download a song from iTunes to your iPhone or iPad, but at the moment music in that form doesn’t play to the strengths of the device. Just playing a track isn’t enough.”

Adam Liversage, a spokesperson of the British Phonographic Industry, which represents the major UK record labels, notes that the rise of streaming services such as Spotify may be a culprit in the fall in music sales. Revenues from such companies added up to $800m in 2009. Arthur feels that “again, it doesn’t make up for the fall in CD sales, but increasingly it looks like nothing ever will; that the record business’s richest years are behind it. Yet there are still rays of hope. If Apple – and every other mobile phone maker – are moving to an app-based economy, where you pay to download games or timetables, why shouldn’t recording artists do the same?”

Well, apparently they are. British singer Peter Gabriel has released a ‘Full Moon Club’ app, which is updated every month with a new song. Arthur also notes that “the Canadian rock band Rush has an app, and the industrial rock band Nine Inch Nails, led by Trent Reznor – who has been critical of the music industry for bureaucracy and inertia – released the band’s first app in April 2009.” It is thought that such a system will be an effective method to reduce online piracy—”apps tend to be tied to a particular handset or buyer, making them more difficult to pirate than a CD”, he says—and in the music industry, piracy is a very big problem. In 2008, the International Federation of the Phonographic Industry estimated that 95% of downloads were illegitimate. If musicians can increase sales and decrease piracy, Robert says, it can only be a good thing.

“It’s early days for apps in the music business, but we are seeing labels and artists experimenting with it,” Jacob said. “You could see that apps could have a premium offering, or behind-the-scenes footage, or special offers on tickets. But I think it’s a bit premature to predict the death of the album.” Robert concluded by saying that it could be “premature to predict the death of the iPod just yet too – but it’s unlikely that even Steve Jobs will be able to produce anything that will revive it. And that means that little more than five years after the music industry thought it had found a saviour in the little device, it is having to look around again for a new stepping stone to growth – if, that is, one exists.”

Sunday, April 17, 2005

The Irish bookmaker, Paddy Power, has described this weeks conclave in the Vatican as “getting to be a bigger non-sporting betting event than the Oscars Hollywood movie awards.”

The bookmaker has been taking bets all week on who will be the next Pope, with Joseph Cardinal Ratzinger the 3-1 favourite. Second favorite was a Frenchman; Jean-Marie Cardinal Lustiger. The betting firm revealed that one customer has placed €1,000 (US$1,287) on the former Jew.

In third place is a 78 year old Italian, Carlo Maria Cardinal Martini. Like the late Pope John Paul II, Martini has Parkinson’s disease and is quite conservative. He was also a close confidante of John Paul II who debated with the theologian on Church dogma.

Friday, April 23, 2010

Greece has formally asked for rescue loans by the European Union and International Monetary Fund (IMF) to be activated, aimed at helping the country recover from an economic crisis.

Under the plan, countries in the Eurozone will provide up to 30 billion euros in loans in the first year, while the IMF will contribute ten billion euros.

“The moment has come,” said Greek prime minister George Papandreou. He stated that it is “a national and pressing necessity for us to formally ask our partners for the activation of the support mechanism, which we jointly created in the European Union.” The prime minister added that “several days will pass before money can start being drawn.”

Under the bailout, Greece’s borrowing needs for the immediate future will be covered, so it can avoid default and keep servicing; the request needs to be approved by all fifteen countries using the euro, and will be reviewed by the European Central Bank.

Monday, August 29, 2016

On Friday, French capital football club Paris Saint-Getmain announced they loaned Italian goalkeeper Salvatore Sirigu to Spanish club Sevilla F.C. till the season end.

29-year-old Sirigu started his career in Italy and joined the Parisians five years ago, in 2011. After playing 60 Serie A matches from 2009 to 2011, Sirigu became the first-choice goalkeeper at PSG for four years, playing 145 matches.

In five seasons at Parc des Princes, Sirigu has won four consecutive Ligue 1 titles, three Trophée des Champions, three Coupe de la Ligue, and two Coupe de France. Sirigu has played seventeen international matches, debuting in 2010.

Last season, German goalkeeper Kevin Trapp joined PSG and became their first-choice keeper. Lacking playing time with PSG, Sirigu signed the contract with Sevilla on Friday, after passing the medical tests hours before.

Per the agreement between the clubs, PSG has not included an option for Sevilla to buy the player.

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Due to the damage by Hurricane Katrina and subsequent flooding, a number of colleges and universities in the New Orleans metropolitan area will not be able to hold classes for the fall 2005 semester. It is estimated that 75,000 to 100,000 students have been displaced. [1]. In response, institutions across the United States and Canada are offering late registration for displaced students so that their academic progress is not unduly delayed. Some are offering free or reduced admission to displaced students. At some universities, especially state universities, this offer is limited to residents of the area.

Monday, February 11, 2013

With news of Pope Benedict XVI’s resignation only hours old, online gambling sites have already published odds for who will become the next leader of the Roman Catholic Church, with Cardinals Marc Ouellet and Peter Kodwo Appiah Turkson as early odds-on favorites.

Online Australian gambling site SportsBet has Canadian Cardinal Marc Ouellet as their favorite with 7/2 odds. The Irish Paddy Power brokers has 11/4 odds with the Canadian Cardinal being chosen as Pope. Bwin has Ouellet becoming the next Pope with odds at 7/2. British SportingBet also has odds for Ouellet at 7/2.

British Ladbrokes has Nigerian Cardinal Francis Arinze with 7/2 odds.

SkyBet has the betting odd for Ghanian Cardinal Peter Kodwo Appiah Turkson at 7/2, its best odds for any potential Papal candidate. BetVictor also has the best odds on Turkson with 5/2. Stan James has the best odds for Turkson at 3/1. You Win has odds for Turkson at 5/2.

Bets are also being taken by Paddy Power for the name of the next Pope, with Peter their odds-on favorite at 2/1. It is followed by Pious at 5/1, and John Paul and John at 6/1.

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.