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Saturday, January 30, 2010

The automobile manufacturer Toyota has said that it will recall up to 1.8 million cars across Europe, after a problem with the accelerator pedal was discovered.

According to the firm, eight models were affected by the problem — AYGO, iQ, Yaris, Auris, Corolla, Verso, Avensis, and RAV4 — after it was discovered that the accelerator may become stuck in a depressed position, resulting in uncontrollable speeding.

On Thursday, Toyota said it would recall 1.1 million cars in the US; a day previous, it had suspended eight models from sales. Last week, 2.3 million cars in the US were recalled due to the pedal issues.

The chief executive of Toyota Motor Europe commented on the recall. “We understand that the current situation is creating concerns and we deeply regret it,” said Tadashi Arashima. The firm, however, noted that it wasn’t aware of any accidents resulted by the malfunctioning accelerator pedals, and not many pedal problem incidents were reported in Europe. “The potential accelerator pedal issue only occurs in very rare circumstances,” Arashima added.

The National Automobile Dealers Association, meanwhile, commented that Toyota showrooms could lose as much as US$2.47 billion worth of revenue due to the incident.

“Toyota veterans will likely hear the news with disbelief and keep faith in the brand, but new customers could definitely be scared off,” remarked Robert Rademacher, who is the president of the trade group ZDK, as quoted by Business Week. “This recall has a dimension which we’ve never seen before.”

There are concerns that the problem may result in reduced consumer trust in Toyota. Hans-Peter Wodniok, an analyst for Fairesearch GmbH & Co. in Germany, noted: “If this is a one-time event, huge as it is, Toyota may be forgiven. But if something happens again in the next months and years, they will have gambled away customer trust in Europe as well.”

Analysts for Morgan Stanley, however, said they believed Toyota would not suffer much from the incident. “The company’s actions to correct the situation are timely enough to avoid major brand damage,” they remarked in a note to investors.

Friday, November 24, 2006

Mr Alexander Litvinenko, reputed to have been an Ex-Russian spy who had defected to Britain, died last night in mysterious circumstances. He had alleged many associations between people in high places and organised international crime, implying that President Putin and Romano Prodi among others had been involved personally. He had sought political asylum in UK in 2000 and became a naturalised citizen in October this year, just weeks before his death.

Mr Litvinenko was said to have been investigating the shooting of Russian journalist and human rights activist Anna Politkovskaya, a well-known critic of Russian activities in Chechnya, in her apartment in Moscow October 7, 2006. It is reported that he had met two Russians in a hotel room, one said to be former member of the KGB in connection with the affair and he went on to meet Mario Scaramella at a sushi bar in Piccadilly where some papers were exchanged. Some hours after this he was taken ill.

Mr Litvinenko was admitted to Barnet General Hospital, north London on November 1, 2006 complaining of feeling sick. By November 11, he was said to be suffering from serious poisoning. A week later he was transferred to University College Hospital in central London. A week later he was said to have been poisoned by ingesting thallium, once used in rat poison, but, in the opinion of some doctors, there were signs of radioactive poisoning, including loss of weight and shedding of hair. Various explanations of his condition were offered. Last night he suffered a heart attack, after having left a message blaming President Putin for having him killed.

The radioactive isotope polonium-210 was found in his blood and urine as reported by the United Kingdom’s Health Protection Agency. The post-mortem was cancelled. Subsequently the Agency examined conditions in the hospitals in which Mr Litvinenko has been treated. Police visited the Itsu sushi restaurant in Piccadilly, his home in Muswell Hill and the Millennium Hotel, Grosvenor Square where the meeting on November 1 had been held. Traces of radiocactivity were found in all three places. It is speculated that the polonium was probably eaten by Litvinenko as a substance that could be combined with a salt-like substance, such as polonium nitrate.

It was reported that a meeting had been held in Cabinet Office Briefing Room A (COBRA) used for high level emergency planning and control, to consider the implications of these events. The Foreign Office asked Moscow for a response to the accusation of Russian involvement and President Putin himself dismissed the allegations saying (before the cause of death had been established) that there was no proof of an unnatural death and that the case was being used as a “political provocation”.

Friday, August 21, 2009

Stock indexes worldwide rose on Friday, after US bank chief Ben Bernanke said that the US economy was starting to recover from the recession.

Addressing a conference in Wyoming, the bank chief said that “the prospects for a return to growth in the near term appear good.”

He added, however, that “the economic recovery is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”

The Dow Jones Industrial Average gained 155.91 points, or 1.67%, to end the day at 9505.96. The Nasdaq reached 2020.90 points after gaining 1.59%. The Standard & Poor’s 500 Index, meanwhile, struck a ten-month high, reaching a level of 1,026.13 at the closing bell, up 1.9%.

The British FTSE index rose about two percent, closing at 4,851. The French Cac index gained 3.1% and the German Dax 2.8%.

“Bernanke was a little bit more bullish than most people were expecting. He’s saying that the global economy is starting to emerge from the recession and that the fears of a financial collapse have receded substantially,” said Jacob Oubina, the currency strategist of Forex.com.

“I think the market is just taking those headlines as extreme positives for the outlook.”

Jean-Claude Trichet, the European Central Bank president, warned that talk of a complete recovery might be premature. “I am a little bit uneasy when I see that, because we have some green shoots here and there, we are already saying, ‘well, after all, we are close to back to normal,’ ” he said.

Friday, July 15, 2011

On Tuesday, the Euro fell to a new record low in relation to the Swiss Franc, and to multi-month lows against the U.S. Dollar and Japanese yen; all considered by investors to be safe currencies during times of economic turmoil.

The Wall Street Journal reported earlier that recent comments from the newly installed head of the International Monetary Fund, France’s Christine Lagarde, resulted in a sell-off of the Euro. At a roundtable discussion in Washington, Lagarde noted that the IMF had not yet reached discussion of terms and conditions of a second Greek bailout plan. In fact, a representative from the IMF is currently meeting with Eurozone policymakers to draft such a new proposal. The yield differential between Italian bonds and German bonds has spread to more than 300 basis points, something not seen in over a decade and evidence of investors’ concern.

Adding to the Euro’s woes is the upcoming release of the bank stress tests on Friday. The European Bankers Association said that they expect the data release to shed new light on the Eurozone’s banking situation. Representatives of several of the Eurozone’s governments, including Germany, have requested that the association consider releasing fewer specific details for fear that investor panic will ensue. The inadequacy of the capitalization rates has been an issue with the European Central Bank, whose president recently called upon Eurozone banks to make every effort to put their balance sheets in order.

For the time being at least, an unsubstantiated rumor reported by the Wall Street Journal states that the Eurozone’s central banks’ purchase of periphery debt has helped to quell the downward momentum of the Euro.

Friday, April 3, 2009

Rod Blagojevich, the former governor of the US state of Illinois, was indicted on Thursday on charges of corruption for allegedly planning to “sell” Barack Obama’s Senate seat when the latter vacated it to become President.

Five of his advisers, including Blagojevich’s brother Robert, were also indicted. The others are former fundraiser, Christopher Kelly, former chief of staff John Harris, former aide Lon Monk, and the lobbyist William Cellini.

A jury indicted Blagojevich on sixteen felony counts, among them wire fraud, extortion conspiracy, and racketeering conspiracy. The indictment states that if convicted, the ex-governor could face over three hundred years in prison, as well as US$4 million worth of fines, including restitution.

The governor insists that he did nothing illegal, and claims that he was the victim of a politically motivated witch hunt. He pledged to fight his charges in court.

“I’m saddened and hurt but I am not surprised by the indictment. I am innocent,” read a statement released by Blagojevich. “I now will fight in the courts to clear my name. I would ask the good people of Illinois to wait for the trial and afford me the presumption of innocence that they would give to all their friends and neighbors.”

Blagojevich, a governor serving his second term, was arrested on December 9 of last year on charges of wire fraud and conspiracy to commit mail and wire fraud. Shortly thereafter, the Illinois House impeached him before the Senate, which nearly unanimously convicted him and expelled him from office.

Friday, March 11, 2005Many infertile American women would choose the sex of their next child if given the option.

A survey of 561 women being treated for infertility has found that 41% would use sex selection if it were offered at no cost.

Contradicting fears that such sex selection would cause gender imbalance, the survey found that women with no children would choose baby girls and boys in approximately equal numbers.

Furthermore, women with only daughters wanted to select a male child while women with only sons wanted to select a female child.

“Sex selection is a topic that’s almost taboo for physicians to talk about,” says study lead author Tarun Jain of the University of Illinois at Chicago. “Prior to this study, there has been no data to indicate what the demand might be.”

Of 561 survey respondents, 229 would want to select the sex of their future child.

Among these, 45% had no children and 48% had children of all the same sex.

Half would choose to select the sex of their next child even if they had to bear the cost.

About 55% would choose sperm separation, 41% would choose preimplantation genetic diagnosis and 4% would choose neither.

Sex selection is controversial. The American College of Obstetricians and Gynecologists opposes it for nonmedical reasons and so does the International Federation of Gynecology and Obstetrics.

The American Society of Reproductive Medicine supports it for nonmedical reasons for family gender balancing provided methods used are safe and effective.

“As the techniques gain more popularity, physicians will have to decide if they will offer the procedure to patients with and without children,” says Jain.

The research is reported in the journal Fertility and Sterility.

Tuesday, March 17, 2009

With an election coming up this Saturday in the Australian state of Queensland, Wikinews reporter Patrick Gillett previews the contesting parties.

The current distribution of seats has the Australian Labor Party with 58 of the 86 total, the Liberal National Party with 25, the Queensland Greens & One Nation with one each and independents holding four.

The Australian Labor Party (ALP) is currently in government and have been since 1998. Current premier and leader of the ALP Anna Bligh will be, if Labor wins, the first female to elected premier in Australian history. Ms Bligh became the third female premier in Australian history when Peter Beattie resigned in 2007.

The premier has received criticism from other parties for backflipping on its commitment to run a full term. “After 11 years in office, Ms Bligh only cares about one job: her own,” said Lawrence Springborg head of the Liberal National Party (LNP) and the Leader of the Opposition.

The Liberal National Party is currently in opposition. It is seen as a prototype for a national merger between the Liberal and National parties. The Opposition need to pick up at least twenty seats from the government to overcome the significant Labor majority and a number of independents.

The Queensland Greens are the states largest minor party. The Greens unveiled its policy to open two solar power stations on the weekend of January 31/February 1.

“We can tackle climate change and create long-term jobs, but Labor can’t see that because they are blinded by the interests of their big donors – the urban development and coal industries,” said Mt Coo-tha candidate Larrisa Waters.

The Greens main policies have been stated “Green collar jobs”, “managing where the money is going”, education and transport.

“The Greens want to give the community and the environment a voice back in State Parliament,” says Ms Waters.

The Socialist Alliance will run two candidates as independents because of what they call “restrictive rules for registration.”

Wikinews conducted an interview with the Socialist Alliance on March 2rd in which they said, “That choosing between “tweedledee” and “tweedledum” once every few years is not real democracy, and with the planet in peril, facing an economic meltdown, and all manner of social problems, we can’t afford to leave sociaety [sic] in the hands of the pro-corporate parties.”

The Daylight Saving for South East Queensland (DS4EQ) party was set up in late 2008. DS4SEQ leader Jason Furze gave an interview to Wikinews in January. “DS4SEQ would like to gain a sizeable percentage of the primary vote and win a number of seats,” Mr furze said. Courier Mail writer Dennis Atkins wrote in today’s Courier Mail that DS4SEQ “will poll better than anyone expected – polling close to double figures in some seats around Brisbane and on the coasts.”

News Limited newspapers The West Australian and the Courier Mail reported that swing voters would decide the election.

Tuesday, September 28, 2010

The polygamist family at the center of the new TLC reality television series Sister Wives are now the subject of a criminal investigation. Yesterday, following Sunday’s debut of Sister Wives, police in Lehi, Utah, where the show is set, announced they are investigating Kody Brown and his four wives for possible charges of bigamy.

Sister Wives focuses on Brown, his four wives—Meri, Janelle, Christine and Robyn—and his 13 children and three step-children. The family has said they are participating in the show to bring more public awareness to polygamist families and fight societal prejudices.

Brown has claimed the arrangement is not illegal because he is only legally married to Meri, and the other marriages are only spiritual unions. However, Lehi police said yesterday that state laws identify bigamy through cohabitation, not just legal contracts. The department plans to turn their findings over to the Utah Attorney General’s office at the conclusion of their investigation.

TLC contacted the state attorney general’s office before the series was broadcast in anticipation of potential legal issues. The office has not explicitly stated they will not charge the Browns, but has stated they do not have the resources to prosecute polygamists unless they are suspected of serious crimes, like child abuse and child trafficking.