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Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

Friday, February 19, 2010

On the popular social networking website Facebook, various groups commemorating disgruntled pilot Joseph Andrew Stack were formed on Thursday evening. Earlier that day, in what has been described as an act of “domestic terrorism,” Stack intentionally crashed his small passenger plane into an Internal Revenue Service (IRS) office building in Austin, Texas. Stack is one of two reported fatalities; the other is an IRS employee.

On the information page of the first group named “The Joe ‘Take My Pound Of Flesh’ Stack Anti-IRS Fan Page,” one administrator wrote, “[This page is] dedicated to a man, frustrated as so many of us are with our corrupt, inept government, sacrificed his life to make a statement. Will history see him as a patriot or terrorist? Depends on who is doing the writing.” This particular group had approximately 250 members.

Another group called “The Philosophy of Joe Stack” apparently came out against the attack, yet sympathized with its reasons: “This page is NOT to glorify his actions, but simply to say that after reading his note, we can agree with…Joe Stacks’ thoughts.” However, one member went as far to suggest that the United States “need[ed] a revolution” and “voting for a Democrat or a Republican is not revolutionary, it is big business as usual.”

A third group titled “Joseph Andrew Stack, we salute thee” was supposedly against violence towards others. One administrator did write, “We hope that everyone is okay and accounted for. It is our belief that his intention was not to hurt anyone, but just to prove a point.”

On the wall of a fourth group, known simply as “Joseph Andrew Stack,” creator Emily Walters of Louisville, Kentucky, wrote: “Finally an American man took a stand against our tyrannical government that no longer follows the constitution and is^[sic] turned its back on its founding fathers and the beliefs this country was founded on.”

“That so many have already contributed to Facebook page[s] as ‘fans’ of this terrorist attack on public servants is a truly appalling expression of extremism, which Americans will overwhelmingly reject,” Democratic Congressman Lloyd Doggett of Texas told The Politico regarding the creation and subsequent growth of said pages.

Facebook’s Statement of Rights and Responsibilities says that its users are prohibited from “post[ing] content that is hateful, threatening, pornographic, or that contains nudity or graphic or gratuitous violence.” Facebook has decided that it would be appropriate under said policy to delete these four groups.

Thursday, January 4, 2018

A fire on Sunday night in the seven-storey carpark for the Echo Arena in Liverpool, England destroyed almost all the vehicles parked inside and led to cancellation of the final evening of the Liverpool International Horse Show and evacuation of nearby blocks of flats. The blaze reportedly started with a parked Range Rover Discovery.

Investigators with the fire brigade stated that they believe the fire began with an accidental engine fire in the Range Rover at about 4.30 pm. The first call was made at 4.42 and firefighters arrived eight minutes after that. Ultimately twelve engines and 85 firefighters were involved in combatting the blaze. Aerial appliances were used and also three high-volume pumps. Fed by the fuel in vehicles parked inside, the temperature of the fire in the carpark is believed to have reached as high as 1,000°C. It was too hot to be extinguished with water from hydrants, so a high-volume pump was used to draw water from the River Mersey, and two more were brought from other fire brigades in the region.

The carpark has seven storeys and a capacity of 1,600 vehicles, and approximately 1,300 were parked in it when the fire broke out. According to Dan Stephens, chief fire officer for Merseyside Fire and Rescue Service, almost all of them were destroyed, with the exception of a few parked on the top level and at corners. “With these very high temperatures, you were never going to put the fire out without the whole building taking hold. The speed at which the fire spreads means you simply aren’t going to put it out,” said Stephens.

The carpark itself was severely damaged; according to Joe Anderson, the mayor of Liverpool. It is not in danger of collapsing but will have to be demolished, which will be difficult with the many burned-out cars still inside it, Anderson told the BBC.

According to Stephens, there were no serious injuries: one woman injured her hand, and two people were treated for smoke inhalation. A spokesman for the Echo Arena also stated that all animals were safe. All horses were successfully evacuated from the carpark and then removed from the stables after smoke spread to them. Six dogs were also rescued unharmed, two on a lower level in the early stages of the fire and four that had been left in a car on the top level, freed by firefighters on Monday after the fire was put out.

The final evening of the four-day Liverpool International Horse Show had been scheduled to begin at 7.30, and had to be cancelled. Many attendees were stranded in the city on New Year’s Eve night. Merseyside police directed people to the Pullman Hotel, where Red Cross assistance was available, and the Liverpool City Council set up an assistance centre at the Lifestyles Gym. A spokesman for the Association of British Insurers has said that insurance companies will “move very quickly” to reimburse owners whose vehicles were destroyed.

Nearby blocks of flats were evacuated because of the smoke. Eyewitnesses reported hearing what they at first thought were firecrackers, then “multiple explosions”, “bangs and popping”, “the bangs of car windows exploding”. People reported leaving everything in their cars, including their cellphones, and running for their lives.

Mayor Anderson tweeted that cuts to fire services over the last two years made it significantly harder to fight the fire and might have caused it not to be controllable. He also suggested that fire safety in multi-storey carparks had not been sufficiently considered and that installing sprinklers in them might help stop future fires before they become unmanageable, in a letter to Nick Hurd, a member of Parliament.

Tuesday, January 21, 2014

In late 2010 a geological expedition to Antarctica drilled through the Ross Ice Shelf so they could send an ROV under it. What they found was unexpected: Sea anemones. In their thousands they were doing what no other species of sea anemone is known to do — they were living in the ice itself.

Discovered by the ANDRILL [Antarctic Drilling] project, the team was so unprepared for biological discoveries they did not have suitable preservatives and the only chemicals available obliterated the creature’s DNA. Nonetheless Marymegan Daly of Ohio State University confirmed the animals were a new species. Named Edwardsiella andrillae after the drilling project that found it, the anemone was finally described in a PLOS ONE paper last month.

ANDRILL lowered their cylindrical camera ROV down a freshly-bored 270m (890ft) hole, enabling it to reach seawater below the ice. The device was merely being tested ahead of its planned mission retrieving data on ocean currents and the sub-ice environment. Instead it found what ANDRILL director Frank Rack of the University of Nebraska–Lincoln, a co-author of the paper describing the find, called the “total serendipity” of “a whole new ecosystem that no one had ever seen before”.

The discovery raises many questions. Burrowing sea anemones worm their way into substrates or use their tentacles to dig, but it’s unclear how E. andrillae enters the hard ice. With only their tentacles protruding into the water from the underneath of the ice shelf questions also revolve around how the animals avoid freezing, how they reproduce, and how they cope with the continuously melting nature of their home. Their diet is also a mystery.

E. andrillae is an opaque white, with an inner ring of eight tentacles and twelve-to-sixteen tentacles in an outer ring. The ROV’s lights produced an orange glow from the creatures, although this may be produced by their food. It measures 16–20mm (0.6–0.8in) but when fully relaxed can extend to triple that.

Genetic analysis being impossible, Daly turned to dissection of the specimens but could find nothing out of the ordinary. Scientists hope to send a biological mission to explore the area under the massive ice sheet, which is in excess of 600 miles (970km) wide. The cameras also observed worms, fish that swim inverted as if the icy roof was the sea floor, crustaceans and a cylindrical creature that used appendages on its ends to move and to grab hold of the anemones.

NASA is providing funding to aid further research, owing to possible similarities between this icy realm and Europa, a moon of Jupiter. Biological research is planned for 2015. An application for funding to the U.S. National Science Foundation, which funds ANDRILL, is also pending.

The ANDRILL team almost failed to get any samples at all. Designed to examine the seafloor, the ROV had to be inverted to examine the roof of ice. Weather conditions prevented biological sampling equipment being delivered from McMurdo Station, but the scientists retrieved 20–30 anemones by using hot water to stun them before sucking them from their burrows with an improvised device fashioned from a coffee filter and a spare ROV thruster. Preserved on-site in ethanol, they were taken to McMurdo station where some were further preserved with formaldehyde.

((Wikinews)) How did you come to be involved with this discovery?

Marymegan Daly: Frank Rack got in touch after they returned from Antarctica in hopes that I could help with an identification on the anemone.

((Wikinews)) What was your first reaction upon learning there was an undiscovered ecosystem under the ice in the Ross Sea?

MD I was amazed and really excited. I think to say it was unexpected is inaccurate, because it implies that there was a well-founded expectation of something. The technology that Frank and his colleagues are using to explore the ice is so important because, given our lack of data, we have no reasonable expectation of what it should be like, or what it shouldn’t be like.

((Wikinews)) There’s a return trip planned hopefully for 2015, with both biologists and ANDRILL geologists. Are you intending to go there yourself?

MD I would love to. But I am also happy to not go, as long as someone collects more animals on my behalf! What I want to do with the animals requires new material preserved in diverse ways, but it doesn’t require me to be there. Although I am sure that being there would enhance my understanding of the animals and the system in which they live, and would help me formulate more and better questions about the anemones, ship time is expensive, especially in Antarctica, and if there are biologists whose contribution is predicated on being there, they should have priority to be there.

((Wikinews)) These animals are shrouded in mystery. Some of the most intriguing questions are chemical; do they produce some kind of antifreeze, and is that orange glow in the ROV lights their own? Talk us through the difficulties encountered when trying to find answers with the specimens on hand.

MD The samples we have are small in terms of numbers and they are all preserved in formalin (a kind of formaldehyde solution). The formalin is great for preserving structures, but for anemones, it prevents study of DNA or of the chemistry of the body. This means we can’t look at the issue you raise with these animals. What we could do, however, was to study anatomy and figure out what it is, so that when we have samples preserved for studying e.g., the genome, transcriptome, or metabolome, or conduct tests of the fluid in the burrows or in the animals themselves, we can make precise comparisons, and figure out what these animals have or do (metabolically or chemically) that lets them live where they live.

Just knowing a whole lot about a single species isn’t very useful, even if that animal is as special as these clearly are — we need to know what about them is different and thus related to living in this strange way. The only way to get at what’s different is to make comparisons with close relatives. We can start that side of the work now, anticipating having more beasts in the future.

In terms of their glow, I suspect that it’s not theirs — although luminescence is common in anemone relatives, they don’t usually make light themselves. They do make a host of florescent proteins, and these may interact with the light of the ROV to give that gorgeous glow.

((Wikinews)) What analysis did you perform on the specimens and what equipment was used?

MD I used a dissecting scope to look at the animal’s external anatomy and overall body organization (magnification of 60X). I embedded a few of the animals in wax and then cut them into very thin slices using a microtome, mounted the slices on microscope slides, stained the slices to enhance contrast, and then looked at those slides under a compound microscope (that’s how I got the pictures of the muscles etc in the paper). I used that same compound scope to look at squashed bits of tissue to see the stinging capsules (=nematocysts).

I compared the things I saw under the ‘scopes to what had been published on other species in this group. This step seems trivial, but it is really the most important part! By comparing my observations to what my colleagues and predecessors had found, I figured out what group it belongs to, and was able to determine that within that group, it was a new species.

((Wikinews)) It was three years between recovery of specimens and final publication, why did it take so long?

MD You mean, how did we manage to make it all happen so quickly, right? 🙂 It was about two years from when Frank sent me specimens to when we got the paper out. Some of that time was just lost time — I had other projects in the queue that I needed to finish. Once we figured out what it was, we played a lot of manuscript email tag, which can be challenging and time consuming given the differing schedules that folks keep in terms of travel, field work, etc. Manuscript review and processing took about four months.

((Wikinews)) What sort of difficulties were posed by the unorthodox preservatives used, and what additional work might be possible on a specimen with intact DNA?

MD The preservation was not unorthodox — they followed best practices for anatomical preservation. Having DNA-suitable material will let us see whether there are new genes, or genes turned on in different ways and at different times that help explain how these animals burrow into hard ice and then survive in the cold. I am curious about the population structure of the “fields” of anemones — the group to which Edwardsiella andrillae belongs includes many species that reproduce asexually, and it’s possible that the fields are “clones” produced asexually rather than the result of sexual reproduction. DNA is the only way to test this.

((Wikinews)) Do you have any theories about the strategies employed to cope with the harsh environment of burrowing inside an ice shelf?

MD I think there must be some kind of antifreeze produced — the cells in contact with ice would otherwise freeze.

((Wikinews)) How has such an apparently large population of clearly unusual sea anemones, not to mention the other creatures caught on camera, gone undetected for so long?

MD I think this reflects how difficult it is to get under the ice and to collect specimens. That being said, since the paper came out, I have been pointed towards two other reports that are probably records of these species: one from Japanese scientists who looked at footage from cameras attached to seals and one from Americans who dove under ice. In both of these cases, the anemone (if that’s what they saw) was seen at a distance, and no specimens were collected. Without the animals in hand, or the capability of a ROV to get close up for pictures, it is hard to know what has been seen, and lacking a definitive ID, hard to have the finding appropriately indexed or contextualized.

((Wikinews)) Would it be fair to say this suggests there may be other undiscovered species of sea anemone that burrow into hard substrates such as ice?

MD I hope so! What fascinates me about sea anemones is that they’re able to do things that seem impossible given their seemingly limited toolkit. This finding certainly expands the realm of possible.