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Wednesday, November 8, 2006

Polish Prime Minister Jaros?aw Kaczy?ski has ordered the pharmaceutical company Jelfa to halt production following revelations that Jelfa had placed mislabelled medication on the market, whose use could be potentially fatal.

Jelfa distributed vials labelled as Corhydron, a hydrocortisone used to treat allergies and inflammation, but in fact containing Suxamethonium chloride, a drug normally used to cause muscle paralysis during emergency surgery.

The Health Ministry has appealed to people suffering from asthma or allergies to check their medication and return any Corhydron ampoules they possess to the pharmacy.

Polskie Radio reports that the mislabelling was discovered a month ago, but Jelfa and the Polish Health ministry did not inform of the problem.

Prime Minister Jaroslaw Kaczynski ordered Jelfa to halt production until it can assure the Polish Government that it can properly manage its production.

The Polish Outlook reports that that drug companies in Poland were operating unregulated since December, 2005 as the regulations has expired. The government was putting in place new regulations.

The owner of Jelfa is AB Sanitas, the largest drug producer in neighbouring Lithuania. The shut-down has been questioned by the Lithuanian Prime Minister Gediminas Kirkilas, who expressed concern over the situation and said that he wants to try to settle the issue diplomatically.

Saturday, May 21, 2005

In an effort to ease complaints by the U.S. and Europe about a heavy influx of low priced Chinese goods, China will raise export tariffs on 74 categories of textile products in June. This follows plans from the U.S. to impose quotas on Chinese textiles and clothing.

Products likely to see an increase from the Chinese move include synthetic fiber shirts, trousers, knit shirts and blouses, cotton shirts, and combined cotton yarn. Last week, similar restrictions were imposed by the U.S. on cotton trousers, knit shirts, and underwear. Currently, a 2.5 cent charge per item is imposed; the new tariff will raise this to the equivalent of 12 cents per piece now. While this is a fourfold increase, it is not expected to affect consumer prices. Because of this, some doubt the tariff will have any effect on correcting the trade imbalance.

This move is in response to U.S. trade quotas imposed due to concerns that increased Chinese goods would put U.S. textile manufacturers out of business. According to Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition, a textile industry group in the U.S., the move will preserve 10,000 U.S. jobs. The new U.S. trade quota will limit the growth of Chinese textile imports to 7.5 percent compared with shipments over the past year.

Prior to January 1, a global quota system helped regulate the trade. With the quota system gone, fears have arisen that a flood of Chinese goods could undercut U.S. competitiveness in the market. China is able to market its goods cheaply due to an artificially weak yuan. The U.S. Treasury criticized the China yuan policy as “highly distortionary”, posing a major risk to China’s economy itself and to global economic growth. They challenged China to revalue its currency to bring it to a level they believe will allow fairer competition between global manufacturers.

China has disputed the charges of the U.S. Treasury. Chinese Commerce Minister Bo Xilai said, “I believe they are not reasonable”.

Laura Jones, a representative of large retailers, also criticized the move, saying “These restrictions on imports from China will do absolutely nothing to help the U.S. textile industry — and the government knows it.”

China has seen a boom in economic growth in recent years due to growing trade surpluses with the West, but economists worry that the trade gap will cause longer term global economic problems. China’s textile and apparel exports are the most noteworthy example, with exports up over 1,000 percent in some categories this year and the rapid loss of marketshare and jobs by U.S. textile manufacturers.

Beginning in 1978, the Chinese economy has been transforming from a Soviet-style centrally planned economy to more of a free market style system, under the rigid political control of Communist Party of China.

To this end, the government has leveraged foreign trade to stimulate economic growth. The result has been a fourfold increase in GDP, making China the sixth largest economy in the world. By 2012 the People’s Republic of China may have the highest GDP in the world.

According to U.S. statistics, from 1999 to 2004 China’s trade surplus with the U.S. doubled to $170 billion. Wal-Mart is China’s seventh largest export partner, just ahead of the United Kingdom.

However, the gains from their “socialist market economy” have not been without problems. The Chinese leadership has often experienced the worst results of socialism and capitalism: bureaucracy, lassitude, corruption, and inflation. Inflation rates have been an on-going challenge, reaching as high as 17% in 1995.

Environmental deterioration is a longer-term threat to economic growth. In 1998, the World Health Organization reported that China had seven of the 10 most-polluted cities on Earth. Another concern among some economists is that China’s economy is over-heating, and due to its global economic expansion this could have major repercussions among other nations.

Typically, wages have been low and working conditions poor, with workers living in restrictive dormitories and working at boring factory jobs. However, recent labor shortages have started improving conditions, and raising the minimum wage towards the equivalent of 100-150 US dollars per month. The labor shortages are in part a result of a demographic trend caused by strict family planning.

• “Economy of the People’s Republic of China” — Wikipedia, May 22, 2005
• “China raises tariffs on textile exports. Beijing hoping to counter criticism from U.S., Europe.” — CNN, May 21, 2005
• “China to increase export tariffs” — CNN, May 19, 2005

Tuesday, October 2, 2007

Ray Scott is running for the Family Coalition Party in the Ontario provincial election, in the Algoma-Manitoulin riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Wednesday, May 23, 2018

On Monday, San Jose, California, US-based software company Adobe Systems announced their plans to acquire California-based e-commerce handling web service Magento Commerce for 1.68 billion US dollars (USD). After Adobe made the announcement via their official website, Adobe’s stocks rose by around one percent, ending Monday extended trading at USD 238.10 per share.

Magento provides services for the creation of digital ads and handling of online transactions. Magento’s services are used by Nestlé, Coca-Cola, Warner Music, and Canon. The acquisition, which is expected to take place in the third fiscal quarter of this year, is to be an all-cash deal. Adobe is to acquire Magento from Permira equity firm. In 2015, Permira bought Magento from eBay, an eCommerce website. Adobe, in their official statement, said, “Magento Commerce Cloud will enable commerce to be seamlessly integrated into the Adobe Experience Cloud”.

Adobe also announced a buyback of shares worth USD eight billion by 2021. Magento’s CEO Mark Lavelle said, “Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation […] We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community”.

After the announcement, stocks of Magento’s competitors Shopify, Inc dropped by about 4.8%. They finished extended trading at USD 137.60 after the announcement.

Tuesday, April 22, 2014

Coinciding with Easter Sunday, Glasgow Cannabis Social Club’s annual 420 event was held on Glasgow Green, under sunny blue skies, and overlooking the river Clyde. Despite the city’s council attempting to revoke permission for the gathering at the last minute, police were happy for it to go-ahead with approximately a dozen officers attending in high-visibility vests.

The Daily Record reported five arrests were made for minor offences, likely smoking and possession of small quantities of cannabis. Taking a less-sensational — and more accurate — line of reporting, the Monday edition of Glasgow’s Evening News stated five were referred to the Procurator Fiscal who is responsible for deciding if charges should be brought.

Official figures provided by the police were that 150 attended. With people coming and going, Wikinews reporters estimated upwards of 200 attended, compared to nearly 700 who had signed up for the event on Facebook. Hemp goods were advertised and on sale at the event, and some attendees were seen drinking cannabis-themed energy drinks.

“I was searched and charged under the Misuse of Drugs Act (which is a lot of bollocks)” one attendee noted online, adding “not fair to happen on a brilliant day like it was, other than that I had a great day!” A second said they were openly smoking and ignored by police, who “were only really focusing on people who looked particularly young”.

Cannabis seeds were openly and legally sold at the event and a hydroponics supplier brought a motortrike towing an advertising trailer. Actually growing cannabis is, however, illegal in the UK.

With the event openly advocating the legalisation of cannabis, speakers put their arguments for this to a receptive crowd. Retired police officer James Duffy, of Law Enforcement Against Prohibition, spoke of the failed United States alcohol prohibition policy; stressing such policies needlessly bring people into contact with criminal elements. Highlighting other countries where legalisation has been implemented, he pointed out such led to lower crime, and lower drug use overall.

One speaker, who produced a bottle of cannabis oil he had received through the post, asserted this cured his prostate cancer. Others highlighted the current use of Sativex by the National Health Service, with a cost in-excess of £150 for a single bottle of GW Pharmaceuticals patented spray — as-compared to the oil shown to the crowd, with a manufacturing cost of approximately £10.

Similar ‘420’ pro-cannabis events were held globally.