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Sunday, November 15, 2009

The European Union has emerged from its worst recession since World War II, with the announcement on Friday that the region posted a modest growth in the third quarter. Despite the news, some EU economies including Spain and the United Kingdom are still struggling.

Both the European Union as a whole and the sixteen EU countries sharing the euro currency (the “eurozone”) posted positive growth, at 0.2 percent and 0.4 percent, respectively. This follows five consecutive quarters of negative growth. The data was published by the European statistical agency Eurostat and announced by the European Commission in Brussels.

Two of Europe’s biggest economies, France and Germany, helped drive the overall growth. French Finance Minister Christine Lagarde announced the French economy had grown 0.3 percent in the third quarter, and predicted it would enter 2010 with its old momentum.

In an interview on French radio, Lagarde said the fact the French economy had posted two successive quarters of positive growth showed it was turning around. She also noted that the labour market had only shed 5,000 jobs in the last quarter, far fewer than at the beginning of the year. Speaking from Singapore, Lagarde predicted Asia would drive the world economic recovery — but she also said it was important to continue government economic stimulus measures through 2010.

Germany’s economy grew 0.7 percent in the third quarter and Italy and the Netherlands also posted an upturn. Lithuania recorded the biggest growth — up 6 percent in the third quarter.

However the economies of both Spain and the United Kingdom shrunk in the same quarter. The UK’s Office for National Statistics initially estimated a fall of 0.4 percent in British output, though this could be revised. Britain had widely been expected to show growth in the third quarter. Eurostat figures also showed that unemployment in Europe overall rose to 9.7 percent in September — the highest in 20 years.

Some economists believe that growth in Europe and the United States may slow or even reverse in 2010, in a so called “double-dip”. Howard Archer of IHS Global Insight warned that the end of some government stimulus such as car scrappage schemes could cause a “loss of momentum”. Dominique Strauss-Kahn, head of the IMF, disagreed, predicting in a statement from Singapore that 2010 would be a global “year of recovery”.

Thursday, January 4, 2007

Great Britain has paid off the last of the loans it received to rebuild the country after World War II, sixty years ago. The last payment of US$83.25 million was transferred electronically to the United States on the last business day of 2006, along with an additional US$22.7 million to clear a similar debt owed to Canada.

The original loan of US$4.34 billion, equivalent to about $27 billion in today’s dollars, was negotiated in 1945 by John Maynard Keynes to protect the country from bankruptcy. Canada contributed US$1.2 billion, or an equivalent of about $7.5 billion today.

The loan was required after the U.S. terminated grants in aid to Britain under the Lend Lease Act, signed by then-President Franklin D. Roosevelt in 1941. On 2nd September 1945, with the decision to terminate aid, some of the goods were still in transit and it was necessary for Britain to arrange new loans to finance reconstruction.

The loan was negotiated at a 2% interest rate, payable over 50 years starting in 1950. The final payment was actually six years late, the British Government having suspended payments due in the years 1956, 1957, 1964, 1965, 1968 and 1976 because of financial difficulties at those times.

Friday, September 15, 2006

Jesse Sullivan has two cybernetic arms, after electrical burns suffered while working as an electrical utility lineman resulted in amputation of both his arms at the shoulder. Claudia Mitchell has a similar cybernetic left arm, after a motorcycle accident resulted in amputation. Sullivan and Mitchell shook hands with these thought-controlled prosthetic arms at an event staged Thursday in Washington, D.C. by the Defense Advanced Research Projects Agency (DARPA) and Center for Artificial Limbs at the Rehabilitation Institute of Chicago.

Unlike traditional prosthetic limbs, these are actuated through muscle reinnervation; nerves are grafted onto specific muscles, controlling their contraction, which are then detected by electrode sensors and control the prosthetic limb. “Basically it is connecting the dots. Finding the nerves. We have to free the nerves and see how far they reach,” says Dr. Todd Kuiken, developer of the prostheses and director of neuroengineering at the Rehabilitation Institute. By this chain of communication the prostheses utilize thought-controlled biomechanics. According to Sullivan, “When I use the new prosthesis I just do things. I don’t have to think about it … I do all the yard work. I take out the garbage.”

DARPA, as an agency of the United States Department of Defense, seeks to eventually provide such prostheses for soldiers losing their organic limbs in combat. “We’re excited about collaborating with the military,” said Kuiken. 411 U.S. troops in Iraq and 37 in Afghanistan have had wounds that cost them at least one limb according to the Army Medical Command.

Tuesday, May 29, 2007

Five British citizens have been seized in the Iraqi capital, Baghdad. The group, comprising a finance expert and four bodyguards, were captured from the finance ministry by kidnappers wearing police uniforms and driving police vehicles. The BBC is reporting that over 40 police vehicles were involved in the incident.

In separate incidents, at least 22 people were killed and 55 injured in a bus explosion elsewhere in the city, and at least 15 people were killed in a car bomb which injured a further 36, possibly more.

It is believed the four bodyguards are employed by Canadian GardaWord, a subsidiary of Garda.

Thursday, July 31, 2008

From the middle of July, Sony Corporation refreshed their senior laptop brand VAIO from “Video Audio Integrated Operation” to “Visual Audio Intelligent Organizer”. According to Sony Taiwan Limited, this refreshment is an attempt to relocate the laptop consuming market for business and entertainment factors.

In the “VAIO Experience 2008” press conference in Europe, Sony promoted their new product series for different populations including BZ for business, FW for home entertainment, Z for ultra-slim, and SR for complex applications.

Different with past series, Sony added “Clear Bright” screening technology for high-definition display, and “full-carbon production” features. BD-burning and Intel Centrino 2 processing technologies will be featured in all the new models. For security issue, Sony also embedded fingerprint system to prevent personal data to be stolen. Continued from TZ series, innovative designs including “Green Power Button”, “Situational Switch” are also added in newly-launched series.

“Due to consuming market differences, Sony only promoted BZ series in Europe and America but not included Asia. Although the TICA Show in Taipei will be different, functionality will be the greatest issue when a consumers choose a notebook [computer] before buying.” addressed by executives from Sony Taiwan Limited, during the “VAIO Experience 2008” press conference in Taiwan.

Thursday, June 26, 2008

Gunmen today opened fire in a Mexico City restaurant, killing a top police official in charge of monitoring the country’s illegal drug trade, as well as one of his bodyguards, Mexican officials said. The attack is the latest waged against authorities attempting to fight Mexico’s powerful drug cartels.

Security officials in Mexico City say the attack occurred as Igor Labastida Calderón, commander of the federal police‘s Traffic and Contraband division, was eating lunch with one of his bodyguards, Jose Maria Ochoa. According to Minerva Amado, spokesperson for the attorney general’s office, two unknown subjects got out of a black vehicle, entered the restaurant, and opened fire on Labastida Calderón.

Reports differ on who else was injured in the attack. Amado said two other bodyguards were injured and hospitalized, while Mexico City newspaper El Universal reports that three civilians were injured.

The motive for the attack remains unclear. No arrests have been made so far, as police continue to search for the assailants. Federal police have refused to comment.

President Felipe Calderón has sent over 20,000 troops throughout Mexico in an attempt to take back areas controlled by the country’s drug cartels. Since Calderón took office in December 2006, more than 4,000 people have been killed by these drug cartels, allegedly including federal police chief Édgar Millán Gómez, whose May death was attributed to the Sinaloa Cartel.