Tuesday, February 2, 2010

According to reports from officials, at least sixteen militants were killed in Pakistan earlier today when suspected US drone attacks struck a village in the North Waziristan region, along the border with Afghanistan.

The drones hit suspected fighters’ hideouts, as well as a training centre, authorities said. According to the Al Jazeera news agency, local residents were recovering dead bodies and wounded people out of the rubble.

“Up to eight US drones fired some 18 missiles at multiple militant targets in Dattakhel village,” commented a police official to the Agence France-Presse news agency; “at least 16 militants were killed in the missile strikes.”

Pakistan’s government condemns the drone strikes, which have been increasingly frequent recently; however, US authorities claim the attacks have killed several high-ranking members of rebel groups, and are essential to protect soldiers in neighbouring Afghanistan.

The US government does not officially confirm the strikes; however, their troops in Afghanistan are the only known group in the area that uses unmanned drones that can fire missiles.

Friday, August 10, 2007

Global stock markets fell today, in a mass sell-off stemming from the sub-prime mortgage crisis in the United States. The Dow Jones Industrial Average rebounded late in the day after falling more than 250 points, ending the day down about 31 points. The UK’s FTSE-100 index fell 232.90 points to 6038.30, and Japan’s Nikkei 225 fell 406.51 points to 16764.09.

Central banks across the world are injecting funds into their banking systems to add liquidity, fearing that many financial firms with subprime ties will be insolvent. Yesterday, the U.S. Federal Reserve transferred US$24 billion to temporary reserves, following the European Central Bank, which authorized a record €83.6 billion addition to its banks, its biggest cash infusion ever. On Friday, the Fed entered into a $38 billion repurchase agreement of mortgage-backed securities, easing stockholder worries. Also on Friday, the Bank of Japan injected ¥1 trillion into Japan’s financial system.

The Federal Reserve met this week, but decided to maintain its target rate of 5.25%, although on Friday the federal funds rate was hovering around 6%, indicating a drop in liquidity.

The volatile week began last Friday with Bear Stearns tumbling as a result from its complete loss of two major hedge funds worth more than $1.5 billion. The hedge funds had been dangerously exposed to the massive sub-prime mortgage failure, and the company announced it was unable to return any money to investors.

Washington Mutual, and Countrywide Financial, both very large U.S. home loan lenders, saw shares fall. Countrywide Financial made a statement this week, saying they will be forced to retain a greater proportion of mortgage. American Home Mortgage Investment Corp, another large lender, recently filed for bankruptcy. The U.S. housing market has been declining for more than two years after the Federal Reserve raised interest rates 17 times. Now, lenders are in a quagmire from millions of people who are unable to repay loans after taking adjustable rate mortgages, teaser rates, interest-only mortgages, or piggyback rates.

Jim Cramer, of CNBC’s Mad Money, remarked that as many as seven million people will lose their homes from bad mortgages. Last Friday, Cramer went on a tirade on CNBC’s Street Signs, saying that the “Fed was asleep” and called for them to lower rates immediately.

Asian and European markets have become increasingly entangled in the subprime mortgage crisis in the U.S. Deutsche Bank of Germany lost almost $3.5 billion in share value, forcing the government to organize a bail-out. France’s largest bank, BNP Paribas SA, halted withdrawals from three large investment funds which were crippled by sub-prime exposure.

[edit]

Friday, April 17, 2015

On Wednesday, the Mississippi State Board of Medical Licensure chose to let Doctor Carroll Frazier Landrum keep his physician’s license, following an investigation sparked by an anonymous complaint. Media reported the Mississippi doctor has been working out of his Toyota Camry for about two years, making house calls to see patients.

The investigation, started earlier this year, reportedly centered around Dr. Landrum having no physical office thus possibly being unable to properly store patient records.

Volunteers are presently renovating the former post office in the town of Edwards, Mississippi, United States for the doctor to have an office. Estimations indicate the new office should be ready by early next month. Landrum, 89, closed his Edwards office two years ago. Landrum has routinely seen three or four patients per day since that time. Reportedly, illegal drug activity in the vicinity of his office placed him in danger. The doctor stated he was told his physical safety was in jeopardy.

Becoming tearful, Dr. Landrum told reporters he’s glad he’s been able to help so many people and “give them some hope and relief, and help them survive.” Landrum has assured the medical board he will refresh his training with a medical record-keeping course. According to Landrum’s attorneys, at first the board were unwilling to release their investigative records, although ultimately they did release some of the documents.

Friday, March 5, 2010

China’s military spending will increase by 7.5% for 2010, the first single-digit increase since 1989, a spokesman for the Chinese parliament, Li Zhaoxing, said.

Mr. Li said that China would spend 532.1 billion yuan ($77.9 billion) on the country’s military over the course of 2010, an increase of about 36.9 billion yuan ($5.4 billion) over 2009’s spending. Regardless of the increase, China still spends significantly less on its military as a proportion of its gross domestic product (GDP) than other countries around the world. China spends about 1.4% of its GDP on the military, while the United States spends about 4% of its GDP on the military. The US, which accounts for 48% of the world’s military spending, has frequently encouraged China to be more transparent about its military spending, a challenge which China said it was meeting.

At a press conference, Mr. Li said that the increase was in response to various security threats to China, although the nature of the threats were not specified. He did, however, say that, “The only purpose of China’s limited military strength is to safeguard China’s sovereignty and territorial integrity.” He also said that the government has limited military spending to the best of its ability, and had tried to ensure a balance between the military and other needs.

According to US military analysis and official Chinese reports, China has been steadily increasing military spending since the late 1980s, when the country began a program of improving its entire armed forces, including developing and producing weapons and equipment. The US Pentagon issued a report in 2009, saying that military spending had increased by an average of 12.9% annually since 1996. Based on this, analysts say that the earlier large spending increases could explain the slower increase for 2010. China in the past few years has seen dramatic spending increases in other sectors, especially costs related to the global financial crisis, and these sectors have complained about the amount of military spending. As one analyst, David Shambaugh from George Washington University, put it, “There have been complaints from some other sectors that it has been distorting expenditures. Maybe some of those arguments have come home to roost.”

Saturday, October 1, 2005

New Zealand has relaxed the safety rules imposed on internal airlines in 2002, once more allowing passengers to carry pocket knives with blades less than 60mm long and knitting needles.

Other larger items remain banned, including ice-skates, pool cues, hockey sticks, skateboards, cricket bats and harpoons.

Other countries more at risk from terrorism such as the United States of America and Australia will maintain their stricter rules and continue to ban a range of small, sharp objects from their internal flights.

The airlines have also agreed to help return items seized from passengers before boarding.

Thursday, June 4, 2009

The fourth annual Maker Faire took place this past weekend at the San Mateo Fairground in San Mateo, California located in the United States. The first Maker Faire, which took place in 2006, had approximately 20,000 people in attendance. This year, more than 80,000 people were expected to attend; quadruple the attendance of just four years prior. On Saturday night, it was reported that attendance was up considerably over last year’s event.

Maker Faire, the self-declared “World’s Largest DIY Festival”, offers a forum where hundreds of makers and crafters alike man booths where they display their work. In the main halls alone, there were hundreds of booths. Outside the expo halls, the surrounding area was also filled with many interesting projects, some of which were mobile. In addition to all of the projects on display, there were a number of on-stage presentations. The biggest presentation of the weekend was given by Adam Savage who spoke on the topic of his “Colossal Failures”. During his talk, the Fiesta Hall was filled to capacity.

The theme for this year’s fair was “Remake: America” after President Obama‘s call to “begin again the work of remaking America”. In addition, “going green”, alternative fuel vehicles, crafting, steampunk and sciences for the young, were common themes found throughout the fair.