Friday, April 3, 2009

The G20 Summit held in London, England concluded Thursday with an injection into the economy of US$5 trillion by the end of 2010.

Global trade would be supported by $250 billion (169.5 billion pounds). “We are going to act decisively to kickstart international trade. We will ensure availability of at least $250 billion over the next two years,” said Gordon Brown Prime Minister of the United Kingdom.

The International Monetary Fund IMF will have access to $750bn in resources of which $250bn will support special drawing rights.

Developing countries received $100bn which will be dispensed via Multilateral development banks. Towards this end, the IMF will sell off gold reserves.

China will support the IMF fund by $40bn, the European Union by $100bn, and Japan by $100bn.

There will be increased regulation on banking and credit ratings agencies. There was a commitment to clamp down on hedge funds, tax havens and toxic assets. To restore consumer confidence in the financial sector, a new Financial Stability Board will be initiated internationally. There would be new policies implemented to control pay and bonuses paid to the heads of banks and corporations.

The G20 leaders were adverse to protectionism and rallied to support international trade and investment.

The Leaders’ statement said, “We reaffirm the commitment made in Washington: to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports.”

Eoin O’Malley, senior adviser on international trade at BusinessEurope, said “The measure also needs to be part of wider package to avoid protectionism and conclude the Doha round which will stimulate trade growth. The key point now is to move forward with Doha. The key now is implementation. G20 governments must act quickly to provide this finance to companies that need it urgently.”

Wednesday, July 25, 2012

Homebush Bay, New South Wales —Wikinews sat down with Great Britain men’s national wheelchair basketball player Joni Pollock before a practice session at the Rollers & Gliders World Challenge in Sydney.

British-born Pollock was born with the condition spina bifida. He explained he could walk with difficulty up until age twelve or thirteen, after which he began using a wheelchair. Shortly after this, he began playing wheelchair basketball. He attended a disabilities tournament for children with disabilities in England, where he tried both wheelchair basketball, since he came from a town where team sports were popular; and wheelchair tennis, as he’d played with an able-bodied friend. Ultimately, he chose wheelchair basketball as it was a team sport.

Wikinews asked Pollock about being loud towards his team mates during the match on July 20 between the Australian Rollers and the Great Britain Bulldogs. He said he was out of wheelchair basketball for nine months due to a pressure sore and surgery on his shoulder, and has been making a comeback since January, with the doctors and physiotherapists giving him the all-clear in April. On that night, he said, the Australian team used bullying tactics and some of his teammates on the British team didn’t step up to win the game. He also said that no matter what team his team plays against, he has a target on his back because of his calibre of playing in the game, and his team failed to to understand it that night, leaving him frustrated with his team and himself; and, he hates coming to Australia during a Paralympic year since the home town —that is, Australian— referees do not protect the visiting team from the home team’s dirty playing, which puts the British team’s gold medal prospects in jeopardy.

Wikinews also asked Pollock his opinions regarding Oscar Pistorius. Pollock believes Pistorius shouldn’t be competing in the Olympics if other Paralympic athletes can’t compete. He also mentioned reservations about certain technical aspects, such as whether Pistorius would be the same height if he still had his legs rather then his prosthetic legs. Asked about 5 point players playing in wheelchair basketball, he said he believes 5 point players can play with other point players but not in the Paralympics, and said 5 point players currently play in the domestic league but not at the elite level, to boost the number of players participating and to help the development of the game.

Wikinews also questioned him about tattoos worn by members of the British team. In previous years, he said, only one or two forwards had tattoos, but now almost everyone has one as having tattoos is currently in fashion. He said he got his first tattoo at the age of sixteen and only recently had it removed. He also has tattoos on his right arm, depicting the logos of the Paralympics and World championships in which he competed.

Pollocks’s team begins its London campaign on August 30, against the Germany men’s national wheelchair basketball team.

Wednesday, November 3, 2010

Space Shuttle Discovery’s final launch on the STS-133 mission to the International Space Station has been delayed at least an additional day. Launch is now targeted for 3:29 PM EDT on Thursday.

The launch was originally scheduled for this past Monday, but was delayed two days because of helium and nitrogen leaks on board the shuttle.

Technicians are now working to repair technical glitches discovered yesterday on a main engine control computer.

The weather outlook, however, appears to be unfavorable for the new targeted launch day; there is an 80 percent chance of undesirable weather, according to the NASA space shuttle weather officer Kathy Winters.

The mission management team (MMT) is meeting today to discuss and troubleshoot Discovery’s newfound electrical problems.

STS-133 is scheduled to be an 11-day mission to the International Space Station to ship supplies to the crew, as well as additional components for the orbital outpost’s construction, including the Permanent Multipurpose Module and the third of four ExPRESS Logistics Carriers. The mission is the 133rd of the Space Shuttle Program and the 39th of Discovery.

Saturday, February 24, 2007

Governor Tim Pawlenty of Minnesota signed a bill into law on Thursday that requires the state to generate a significant amount of its energy needs from renewable sources.

The amount of power generated by wind turbines in the state stands now at 895 megawatts. An additional 5,000 megawatts of energy from renewable sources will need to be added to Minnesota’s electricity resources, which is roughly eight times more than the amount that currently comes from renewables.

The bill signed by the Governor requires energy companies to provide 25 percent of power from renewable sources by 2025.

Xcel Energy, which supplies approximately half of the electricity in the state, is required to provide 30 percent from renewable sources by 2020.

Friday, December 14, 2007

Reggie Bibbs is a 43-year-old-man living in Houston, Texas. Mr Bibbs was born with a genetic disease called neurofibromatosis (NF), which causes him to develop tumors on his body (see infobox on the right). NF can be a subtle disease, but in Bibbs’ case it has left him with a disfigured face and deformed leg. But he is happy with the way he looks, and doesn’t want to change his appearance to please other people. He has launched a successful campaign entitled “Just Ask”, and that’s just what Wikinews did in a video-interview.

The interview was prepared by Wikinews reporter Michaël Laurent with the help of Bertalan Meskó (who has a popular genetics and web 2.0 blog). Their questions were sent to a close friend of Mr. Bibbs, Lou Congelio, who kindly conducted the interview.

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

Wednesday, June 11, 2008

NASA’s Phoenix Lander has begun to cook a scoop full of Martian soil. For reasons unknown to scientists, and after several seemingly unsuccessful attempts to break up the soil, a large amount was discovered to have passed through a screen leading to an on board oven.

“We have an oven full. It took 10 seconds to fill the oven. The ground moved,” said Phoenix co-investigator Bill Boynton, a researcher at the University of Arizona located in Tucson, Arizona.

The lander’s Robotic Arm delivered a partial scoopful of clumpy soil from a trench informally called “Baby Bear” to the number 4 oven on its TEGA (Thermal and Evolved Gas Analyzer) last Friday, June 6. NASA observed the method and reported that no soil had passed through the screens over the TEGA. The screen is to prevent larger bits of soil from clogging the narrow port to each oven so that fine particles fill the oven cavity, which is no wider than a pencil lead. The oven’s goal is to vaporize any ice or water that may be present in the soil. Minerals may also burn off and scientists say that vapors from anything that evaporates or vaporizes will be tested and analyzed.

After some debate, NASA decided to ‘shake’ the soil in hopes that it would break up the larger particles. To much disappointment after six tries using this method, only a few particles got through the screen. Scientists then ordered one last shake of the soil “in the off chance we might get lucky,” stated Boynton.

After a few days of troubleshooting, NASA looked back at the soil and discovered that, for an unknown reason, a large amount of soil had fallen through the screen and was ready for inspection by the TEGA. Boynton states that it is possible that the oven might have filled because of the cumulative effects of all the shaking, or because of changes in the soil’s cohesiveness as it sat for days on the top of the screen.

“There’s something very unusual about this soil, from a place on Mars we’ve never been before. We’re interested in learning what sort of chemical and mineral activity has caused the particles to clump and stick together,” Boynton commented.

Phoenix was originally ordered to put off using its TEGA until scientists came up with a solution to the clodded soil. It had been rescheduled to take readings of the Martian climate such as temperature and wind speed, and also to analyze a soil sample using the optical microscope, or MECA (Microscopy, Electrochemistry, and Conductivity Analyzer) on June 12. Scientists say that those tasks are still scheduled to take place. Pictures and results from that sample are expected to arrive on Thursday June 12, while the oven samples will take a few days to analyze.

“The dirt finally did start to flow and we actually got a full oven, so that problem is now behind us. We’re hopeful that some time in the next few days we’ll close the oven and begin the analysis process,” added Boynton.