Friday, September 14, 2007

British bank Northern Rock received emergency loans from the Bank of England yesterday, as it felt the effects of the financial crisis originating in the U.S. subprime mortgage market. Queues formed outside branches as many customers sought to withdraw their savings, and shares fell heavily.

Northern Rock, based in Newcastle, is one of the UK’s largest mortgage lenders, with total assets and loans of £113 billion. Pressure has grown on the bank as other institutions have become less willing to buy mortgage debt, following the American subprime crisis.

The support from the central bank was authorised by the Government and the Financial Services Authority, following assurances that the problems were temporary and the bank remained solvent. Some current mortgages are being used as collateral. The lending is an “unlimited” facility, at an interest rate higher than the base rate. Chancellor of the Exchequer Alistair Darling, speaking on Radio 4’s Today programme, encouraged customers to carry on as normal, stating that “Northern Rock will be able to carry on its business”.

Northern Rock chief executive Adam Applegarth also called for calm, but customers were seen queuing outside branches across the country to withdraw money. It is reported that the company website also crashed under the demand.

Shares in the bank fell 31.5% on Friday, down almost 60% from their highest value this year. Applegarth admitted that profits would be hit, but stated that the bank would adapt to the changes. Shares in other lenders also fell, with Paragon being the most extreme, dropping almost 17%. The FTSE 100 closed down 1.17% (74 points) following a recovery in the afternoon.

The last time the Bank of England acted as “lender of last resort” in this way was in 1973, after the collapse of Cedar Holdings.

Thursday, April 30, 2020

In findings published last month in the journal Current Biology, neuroscientists from the Netherlands Institute for Neuroscience examined harm aversion in laboratory rats for conspecifics — rats not wanting to hurt other members of the same species — and reported which region of the brain was crucial for it. Wikinews caught up with Dr Christian Keysers and Dr Valeria Gazzola, two of the authors who contributed to the paper.

For the experiment, the rats were put in a container with two levers. The rats were trained to develop a preference for one of the two levers: each delivering one pellet of sucrose. One of the two levers was harder to press.

After developing a preference, the preferred lever was wired to deliver a shock to another rat in a neighbouring compartment, while delivering a single pellet of sucrose. The study showed the actor rat, which pressed the lever tend to switch the lever to avoid shocking the other rat. The rat receiving the shock was called a victim rat.

Aversion of harm to fellow rats was reported to be equal in both male and female rats. If the actor rats were previously exposed to the shocks, their degree of harm aversion for others was heightened, the study revealed.

The investigation reported the rats avoided pressing the preferred lever to shock another rat, even if that lever delivered two sucrose pellets and the no-harm lever delivered only one. However, this was not the case when the rats were given three pellets by the shock lever. Most of the actor rats did not switch when they received three pellets pressing the lever, which also delivered an electric shock. Dr Gazzola called it a “tipping point” and said it was a “cost-benefit” function.

The study also revealed the importance of the anterior cingulate cortex (ACC) region of the rat’s brain for harm aversion. The scientists tested harm aversion for conspecifics in the rodents after deactivating the ACC using muscimol. Muscimol was injected in the rats belonging to the test group, while saline water was injected to rats in the control group. The observations showed without the active ACC due to muscimol, the active rats in the test group were no longer averse to harming the victim rats, but degree of harm aversion did not drop in the control group rats.

Saturday, March 18, 2006The judge in the U.S. federal death penalty trial against Zacarias Moussaoui ruled on Friday that prosecutors can seek replacement witnesses for seven Federal Aviation Administration (FAA) employees whose testimony was tainted, and therefore disallowed because of pre-trial coaching by a Transportation Security Administration (TSA) lawyer.

The 18-member jury (6 alternates) were sent home for a week while the court dealt with the revelation that government aviation security witness had been contacted prior to the trial by TSA lawyer Carla J. Martin, to help prepare their testimony in the case.

Martin, aged 51, is accused of misconduct by sending prosecution witnesses e-mail that included trial transcripts of another related case along with observations of her own that pertained to the Moussaoui case, including suggestions and talking points. She was recently suspended with pay by the TSA and retained Roscoe Howard to act as legal council in the face of legal actions that might arise against her.

Judge Leonie M. Brinkema initially ruled to prevent testimony from any aviation employees, but reversed her decision after the prosecution argued they would have little case left if their testimony remained inadmissible. FAA employee testimony is expected to take the form of what measures would have been taken by the agency to prevent against the September 11, 2001 airliner attacks in New York City and Washington D.C. if Moussaoui had warned officials of the plan prior to the strikes.

The connection to the Carla Martin involvement in the case was discovered in a separate trial involving liability law suits against two U.S. airline companies for losses as a result of the attacks. Family member lawyers of flight attendants drew attention to contacts by Martin to persons involved in the case.

The jury will return Monday for the trial’s resumption.

A U.S. federal public defender appointed to Moussaoui argued for the jury to spare his life during opening statements on Monday, March 6, in the trial that will determine his fate — either life in prison or death by lethal injection.

Defense attorney Edward B. MacMahon said that Moussaoui “aspires to martyrdom,” and called on jurors to deny the Al-Qaeda operative his wish to die. A wish that would result in him becoming “a smiling face on a recruiting poster for Osama bin Laden,” MacMahon said.

Moussaoui is believed by some to be the missing member in the team of 19 other attackers that carried out the suicide airliner strikes in New York City and Washington D.C. Arrested in Minnesota on immigration charges three weeks prior to the attacks, Moussaoui could have warned officials of the pending attacks, but failed to do so, argued Assistant U.S. Attorney Rob Spencer for the prosecution in opening statements.

The second day of the trial both Moussaoui and juror’s attention was riveted as a federal prosecutor read a radio transmission account of the exchange between a flight attendant on Flight 11 and ground controllers.

“We are flying low. We are flying very very low. We are flying way too low,” Amy Sweeney told controllers, according to an Associated Press report. The plane crashed into the north tower of the World Trade Center at 8:44 a.m. after she said, “Oh my God, we are way too low!”

Moussaoui has claimed that he had no involvement with the 9/11 attacks when he pleaded guilty to:

1. conspiracy to commit acts of terrorism transcending national boundaries
2. conspiracy to commit aircraft piracy
3. conspiracy to destroy aircraft
4. conspiracy to use weapons of mass destruction
5. conspiracy to murder United States employees
6. conspiracy to destroy property

He said that he was to play a role in another future attack on the White House using an aircraft. Four of the conspiracy charges each carry a maximum penalty of death.

Family members of the nearly 3,000 killed in the attacks were able to watch the Alexandria, Virginia courtroom proceedings by closed-circuit television in six U.S. cities: New York, Boston, Central Islip, N.Y., Newark, N.J., and Philadelphia.

Moussaoui has a history of disrupting previous trial proceedings with outbursts. He has disavowed his lawyers, and mostly ignored his mother who was present during the opening days of the trial because she had spoken to his defense lawyers.

Upon leaving the Tuesday, March 7 court session for a recess, Moussaoui pumped his right fist in the air and shouted, “Allah Akbar! God curse America! Bless Osama bin Laden!”

The outbursts have been timed to occur outside the earshot of Judge Brinkema and the jury as those persons filed out of the courtroom for recesses.

Moussaoui pleaded guilty in April last year to the conspiracy charges. Evidence linking him to the plot was discovered when his duffel bags were searched after the attacks.

Monday, August 31, 2009

A study performed at Edinburgh University, Scotland has shown that aspirin may do more harm to your health than good.

The research at the university in Scotland was to assess the effects of taking aspirin on a daily basis where no prior or existing medical conditions would merit its prescription. The researchers monitored 3,350 patients aged between 50–75, who were thought to be at risk of heart disease, but did not show any significant symptoms at the start of the study. Over an eight-year time period, 181 of those people taking aspirin had heart attacks or strokes.

More than 3,000 men aged 50–75 were randomly assigned to receive a daily dose of aspirin or a placebo pill and were watched over the eight year time period. There were 34 major bleeds in people taking aspirin, or 2%, in comparison to 1.2% of those who took the placebo. The Aspirin for Asymptomatic Atherosclerosis (AAA) have found that the routine use of aspirin does not prevent vascular disease or conditions and the use of it “could not be supported.”

Peter Weissberg, a professor at the British Heart Foundation, the company which was partly responsible in funding for the trials said, “we know that patients with symptoms of artery disease, such as angina, heart attack or stroke, can reduce their risk of further problems by taking a small dose of aspirin each day. The findings of this study agree with our current advice that people who do not have symptomatic or diagnosed artery or heart disease should not take aspirin, because the risks of bleeding may outweigh the benefits. Because it’s been around for a long time, people think, ‘It must be safe and it can’t do any harm’. They are taking it ‘just in case’ but it’s much more dangerous than some other drugs that people get concerned about, like statins.”

Professor Gerry Fowkes presented the research from the University of Edinburgh at the European Society of Cardiology congress in Barcelona, Spain, which was attended by more than 30,000 heart specialists.

“Our research suggests that aspirin should not be prescribed to the general population, although it does have benefits for people with established heart disease or other conditions,” stated Fowkes.

Tuesday, February 5, 2008

The fourth day of New York Fashion Week debuted few daring designs even from designers known for such work. With few exceptions, the overwhelming theme was “old is new” and that the ’70s were even more in fashion than the shows on Sunday suggested. Among the designers to unveil their Fall 2008 lines on Monday were Oscar de la Renta, Carolina Herrera, Betsey Johnson, Proenza Schouler and a rejuvenated Halston line, under the direction of designer Marco Zanini.

Both global warming and the slowing economy have been cited as reasons for the overwhelming use of lighter fabrics over heavier attire. Also, retro designs and continuing trends have been used in effort to save money, like the tights that were expected to go out of fashion this year. Even in the glamorous world of high-end fashion, money has been tight, and with the world economies in a collective downturn, major designers have been more wary of continuing to churn out the stream of couture designs that past Fashion Weeks have seen.

Proenza Schouler’s show took the ’70s retro theme to a fever pitch, liberally using bows on designs and debuting more retro-era wide-legged pants that were first seen in Sunday’s shows. Zanini’s Halston label also brought back the ’70s, resurrecting old designs that the founder of the line made famous. Since the designer Halston’s death in 1990, many designers have tried to take the label in different directions. Zanini’s unveiling on Monday brought the line back to its Studio 54 roots, while using trenchcoats, sheer fabrics, and cardigans to finish the ensembles with a modern twist.

Betsey Johnson also debuted old and new styles on Monday, to celebrate the 30th anniversary of her fashion label. Copies of her original 1978 one-piece bathing suit as well as some early 1980s fashions started off the show. Her new pieces, such as animal print leggings coupled with a short twill jacket, were perceived as very skintight and criticized for not representing more fuller figures. Johnson brushed off the criticism, noting, “It’s tighter and sexier, but I still believe the girl brings the sex to the clothes…You won’t look sexy in a tight, below-the-knee skirt if you don’t feel good in it.”

The lone daring designer for the day was Carolina Herrera, who discarded the furs she promoted in the Fall 2007 show to focus on a Peter Pan theme, with earth tones and bird feathers. To further the “flying Peter Pan” motif, models donned such designs as a chiffon dress with ostrich feathers and a taffeta gown with a feather waistband.

Oscar de la Renta opted for more traditional blacks, golds and grays, debuting lines for men and women in fabrics he is familiar with. Men were outfitted in tweed while women were fitted in dresses that experimented with embroidery and tulle, both shades of past collections.

New York Fashion Week runs until Friday. Among others, labels Badgley Mischka, Diesel, and Vivienne Tam unveil their newest collections on Tuesday.

Saturday, April 16, 2005

Salt Lake City (Utah) resident and hospital orderly Mark Hacking pleaded guilty Friday to killing his wife Lori, and placing her body in a dumpster.

Mrs. Hacking’s disappearance last summer touched off an intense, weeklong search in Salt Lake County which a wire service report said was similar to the other sensational Salt Lake crime, the kidnapping of Elizabeth Smart from her own bedroom.

After Hacking admitted details of his crime to his family, earlier, he suffered a breakdown and was placed in a psychiatric hospital. He was seen in court Friday with his hands cuffed behind his back.

He admitted to the judge that he killed his wife while she slept. His motives, according to prosecutors, were his anger and despondency when she discovered that he was not accepted into a North Carolina medical school as he had claimed, but would remain a hospital orderly.

Mrs. Hacking is reported to have broken down sobbing at her workplace, a Wells Fargo brokerage, after discovering her husband’s deception. She had placed a call to the medical school’s administrators and been told he was not enrolled. He had lied to her about graduating from the University of Utah as well.

Mrs. Hacking’s mother and father were in the courtroom to hear their son-in-law declare: “I intentionally shot Lori Hacking in the head with a .22 rifle.” They said it was like a “knife in the heart” to hear that, but were happy he owned up to the crime.

The attack occurred last July. Volunteers scouring a landfill found her decomposed remains after three months of searching.

Tuesday, August 1, 2006

President Fidel Castro of Cuba has temporarily handed duties, including command of the military forces, to his brother, Raúl Castro. Fidel Castro is undergoing intestinal surgery for gastrointestinal bleeding, and is temporarily unable to govern. 75-year-old Raúl Castro has been the Vice-President of Cuba and number two in the Communist Party of Cuba. Fidel Castro is 79 years old and has ruled since the 1959 revolution.

The power change was reported on Cuban television Monday night by Carlos Balenciago, Castro’s secretary. According to the letter of Castro’s that he read, the reason for the operation was stress and the President of Cuba will need to spend several weeks in bed.

Over 70% of Cuba’s population was born after Castro’s rise to power, who has served as president ever since. It is unknown how the population will react to such an unexpected change. However, a recently signed White House bill has allocated $30 million US dollars for the transition to a new Cuban regime in the case of just such an event.