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Saturday, August 12, 2017

Yesterday, the state government of Victoria, Australia announced their decision to trial self-driving vehicles on two of the state’s major connecting motorways, the CityLink and Tullamarine Freeway. The trial is to use autonomous vehicles from automobile companies including BMW, Mercedes-Benz, Volvo, and Tesla. The two-year trial is to have three phases.

The cars are to drive alongside commuters, but in public testing a driver is always to be present, as Victorian law requires drivers always keep a hand on the steering wheel. However, in occasional closures of the Burnley Tunnel, with no other drivers to endanger, the cars are to be tested with nobody in the vehicle.

Lane assist, cruise control, and recognition of traffic signs are in the trial’s first phase, expected to complete before the end of the year. This includes monitoring how the driver-less cars respond to road conditions, including lane markings and electronic speed signs.

“Victoria is at the forefront of automated vehicle technology — we’re investing in this trial to explore ways that this technology can be used to reduce crashes and keep people safe on our roads”, said Luke Donnellan, the Victorian Minister for Roads and Road Safety. He noted, “Ninety per cent of the fault of accidents is human error […] so we know that if we can take out human error we will have less accidents”.

Tim Hansen, Victoria Police’s Acting Assistant Commissioner, said that police had founded a project team to investigate how self-driving vehicles would change policing on roads. “Can we intercept vehicles more safely to avoid pursuits and ramming?”, he asked.

The trial is a partnership between the state government, Victoria’s road management authority VicRoads, owner of the CityLink toll road Transurban, and insurance company RACV.

Sunday, April 11, 2010

Member states of the eurozone have offered to give Greece thirty billion euro in emergency loans for the debt-stricken country, should the latter want it.

The loans’ price will be determined using formulas by the International Monetary Fund (IMF), and will be set at around five percent.

The Luxembourgish prime minister, Jean-Claude Juncker, speaking on behalf of eurozone finance ministers, commented that “[t]he total amount put up by the eurozone member states for the first year will reach 30bn euros.” He added that “[t]his is certainly no subsidy” to Greece.

The prime minister also noted that financing would be “completed and co-financed” by the IMF. European Union monetary affairs chief Olli Rehn remarked that the IMF would make a “substantial contribution” to the loan package as well, perhaps around ten billion euros.

The Greek economy has spent more than it has earned for several years now, and currently faces a budget deficit equal to 12.9% of its economic output, or a total debt of 300 billion euros. The country intends to try and reduce the deficit to 8.7% this year.

Saturday, August 12, 2017

Yesterday, the state government of Victoria, Australia announced their decision to trial self-driving vehicles on two of the state’s major connecting motorways, the CityLink and Tullamarine Freeway. The trial is to use autonomous vehicles from automobile companies including BMW, Mercedes-Benz, Volvo, and Tesla. The two-year trial is to have three phases.

The cars are to drive alongside commuters, but in public testing a driver is always to be present, as Victorian law requires drivers always keep a hand on the steering wheel. However, in occasional closures of the Burnley Tunnel, with no other drivers to endanger, the cars are to be tested with nobody in the vehicle.

Lane assist, cruise control, and recognition of traffic signs are in the trial’s first phase, expected to complete before the end of the year. This includes monitoring how the driver-less cars respond to road conditions, including lane markings and electronic speed signs.

“Victoria is at the forefront of automated vehicle technology — we’re investing in this trial to explore ways that this technology can be used to reduce crashes and keep people safe on our roads”, said Luke Donnellan, the Victorian Minister for Roads and Road Safety. He noted, “Ninety per cent of the fault of accidents is human error […] so we know that if we can take out human error we will have less accidents”.

Tim Hansen, Victoria Police’s Acting Assistant Commissioner, said that police had founded a project team to investigate how self-driving vehicles would change policing on roads. “Can we intercept vehicles more safely to avoid pursuits and ramming?”, he asked.

The trial is a partnership between the state government, Victoria’s road management authority VicRoads, owner of the CityLink toll road Transurban, and insurance company RACV.

Wednesday, March 18, 2009

The wife and sons of Bernard Madoff are now under pressure from prosecutors to give up US$2.6 million worth of jewelery and $31.5 million in loans. Madoff made the news recently when he pleaded guilty to running a Ponzi scheme worth billions of dollars.

Prosecutors, who stated their intent on Sunday to seize bonds and cash from Madoff, filed another notice on Tuesday listing assets that they intend to seize, among them “various pieces of jewelry owned or held in the name of Ruth Madoff valued at approximately $2,624,340,” and “approximately 35 sets of watches and cufflinks owned by Bernard Madoff,” as well as $31.5 million in loans made to Madoff’s sons.

Bernard Madoff, aged 70, pleaded guilty last Thursday to cheating investors out of as much as $65 billion in the largest ever Ponzi scheme. He was jailed immediately after his plea, and faces a prison sentence of up to 150 years. Neither his wife nor his sons have been accused of any wrongdoing.

Monday, March 12, 2007

24 of 26 Swiss Cantons rejected the proposal for a single health insurance system, in which premiums would be based on income and wealth. The vote on Sunday was the latest in a series of attempts to cut rising costs and ease the financial burden on citizens.

Around 71% of voters rejected the reform. Turnout was at about 46%, slightly above the Swiss average.

As expected, voters in the main German-speaking part of the country turned down the planned reform, which was supported by the centre-left but opposed by the centre-right as well as the business community, parliament and the government.

Opposition in the French and Italian speaking regions was less pronounced. The cantons Jura and Neuchâtel in the French speaking regions voted in favor of the proposed reforms.

Health insurance premiums are higher in southern and western Swiss cantons than in German-speaking areas.

The Swiss Interior Minister Pascal Couchepin said an important part of the Swiss Population appeared to be opposed to “a revolution” in health insurance but he said that he wanted current reforms currently under discussion in the Swiss Parliament to go ahead. He called on all sides, especially health insurers and the cantonal authorities, to make efforts to reduce spending on health insurance and aim for a greater cost efficiency. Currently Switzerland has 87 private insurers providing mandatory basic health care coverage for Swiss residents under a 1996 law. But costs have sky-rocketed. Over 100,000 people are not covered by health insurance due to non payment.

Opponents to the initiative argued that a single insurance system would lead to complacency and create a two-tier system, in which the wealthy would be the only ones available to afford to have additional private insurance coverage.

Supporters of the initiative said a single health insurer would increase the system’s efficiency and allow for annual savings of at least 300 million Swiss Francs (about $245 million) in administrative costs. Currently, the funding system is unbalanced, since many clients on low incomes use state subsidies to pay their premiums, according to the Green Party and the Social Democrats.

The initiative to unite all the insurance companies and introduce premiums based on wealth and income was the most recent in a series of attempts over the past ten years to reduce the public spending on health care. A proposal, similar to this recent proposal, to modify the funding system of the health insurance companies was rejected by 73% of voters in 2003.

Switzerland has the most expensive health system in Europe. Switzerland’s expenditure on health care was 11.6% in 2005, in front of Germany and France but behind the United States.

Thursday, June 21, 2007

US aircraft manufacturer Adam Aircraft have received US$105 million in funding for two aircraft that they currently produce, namely the Adam A500 and the Adam A700 AdamJet. Both are carbon-bodied six-seat civil utility aircraft. The A500 is piston-engined and has a Push-pull configuration and the A700 is of a new variety of aircraft known as very light jets (VLJs).

A significant proportion of the money came from a senior secured credit facility from Morgan Stanley Senior Funding Inc. Adam Aircraft say that the money will be used to accelerate the production of the A500 and to move the A700 through the certification process with the Federal Aviation Administration (FAA).

Founder and CEO of Adam Aircraft Rick Adam said that investors were given confidence by the company’s order backlog, currently valued at around $800 million. Earlier this month, China’s Hainan Zhong Hang Tai General Aviation Airlines expressed their confidence in the uncertified A700 when they announced that they had placed an order for 50 of the new aircraft. They say that they chose the A700 because it had the largest cabin space of any VLJ, with company CEO Jason Fan adding that he thought the “innovative twin-tail design remind(s) people of a Formula 1 race car.” It is an expensive purchase, as the Chinese government charges a 21% import tax on new aircraft.

Rick Adam said of the new funds “this financing allows Adam Aircraft to aggressively pursue our product development and production growth plans,”.

Adam Aircraft say that the A700 is presently undergoing flight tests and development processes. The company hopes to certify it with the FAA in 2008.

Monday, August 27, 2012

London, England — As Paralympians ready for the Games which are set to open later this week, they have access to a world class fitness center inside the Paralympic Village which is designed to maximise their pre-Game preparations.

According to volunteers staffing the center, instead of being a single large room, as in Beijing, the building has numerous rooms. It, along with the adjacent Village Services Centre, is designed to be converted into a school after the games conclude. Rooms have been structured as a gym, an auditorium, and science laboratories.

Gym equipment is supplied by Technogym, an Italian firm that has supplied gym equipment for the Olympics since 2000. Equipment has been provided not just for for the Fitness Centre, but for gyms at all the Olympic venues. The newest equipment is oriented toward maximum flexibility, allowing athletes to exercise the particular muscles that they most require for their sport.

In addition to the equipment, the Fitness Centre also provides instructors trained in the use of the equipment, the likes of which athletes from many countries have never seen before. There are also a number of instructors available to provide motivational training.