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Saturday, September 19, 2009

The United States (U.S.) and China this week initiated a trade dispute over tires, auto-parts, and poultry products just a week ahead of the 2009 G-20 trade summit in Pittsburgh, Pennsylvania.

The most recent trade policies enacted by the U.S. government includes a September 12 decision to impose a 35% trade tariff on Chinese tire imports as an anti-dumping measure. The trade policy came about as a result of a trade-complaint initiated by the United Steelworkers Union (USW) filed before the U.S. International Trade Commission. As reported by Steve Levine of BusinessWeek, “In [the USW’s] trade complaint to the U.S. International Trade Commission, the USW invoked a provision in China’s 2001 accession to the World Trade Organization (WTO) that allows protection from surging imports from the country [China]. The union documented a tripling of Chinese tire imports from 2004 to 2008 […]” The Trade Commission initially recommended a 55% tariff however, President Obama agreed to only 35%. The trade tariff will be diminished by 5% per year for the next three years to 25%. The deadline for President Obama’s decision was September 17. The trade tariff will take effect on September 26, pegging rates at the new level from the current 4%. The dispute will now move to the WTO where it can take up to 18 months for adjudication.

To quantify the impact of the tariff, in 2008 China supplied US$1.8 billion in tires to the U.S. or about one-third of the U.S. market, with two-thirds of U.S. companies producing their tires in China. It’s likely that the effects of the suit will exceed $1 billion in trade costs, as reported by several other news agencies.

On the 14th of September, the Chinese government via its Ministry of Commerce website, announced that they would institute an investigation into the dumping of U.S. auto parts and chicken products; they are also filing a complaint at the WTO regarding this matter. A formal announcement of trade tariffs against U.S. goods has not occurred.

The two countries’ executive and economic teams will meet in Pittsburgh for the G-20 meeting on September 24 and 25 to discuss these and other economic issues.

Friday, October 10, 2008

The head of the World Trade Organization, Pascal Lamy, has called for a meeting to assess the trade finance situation, including the impact on developing countries. The meeting, which is schedule for November 12, will allow credit institutes and government officials to review the current trade credit situation.

“A number of WTO members, in particular developing countries, have flagged the problems they are facing in arranging trade financing,” wrote WTO Director-General Lamy.

“The purpose of our next meeting will be to review how the international market for trade-financing is faring in view of the current very difficult conditions on international financial markets,” he continued.

Credit is vital to trade with around 90 percent of the US$14 trillion in world trade financed by credit. While this market has done well compared to other credit markets, bankers are suggesting that problems might occur shortly. Rates on these trade loans have increased by 3 percent.

Developing countries have seen several recent years of positive growth but the effects of the global financial crisis on these countries have pushed growth levels down.

Lamy has asked that the heads of the World Bank, International Monetary Fund, and other regional development banks to attend. He also invited the five leading commercial banks in trade finance: Citigroup, Commerzbank, Royal Bank of Scotland, JPMorgan Chase, and HSBC.

Lamy also said that work on the Doha Development Round of trade is continuing but did not say if it would be finished this year.

Wednesday, April 18, 2007

Natural Balance Pet Foods has recalled some of its wet and dry food for cats and dogs after several owners said that their pets were becoming sick. The company urges owners to stop feeding their pets the food immediately.

The brands recalled include Venison & Brown Rice Dry Dog Food and Venison & Green Pea Dry Cat Food.

Last month, Menu Foods recalled all of its 60 million products of dry and wet dog and cat food after pets began to fall ill and in some cases died of kidney failure.

“Natural Balance, Pacoima, CA, is issuing a voluntary nationwide recall for all of its Venison dog products and the dry Venison cat food only, regardless of date codes. The recalled products include Venison and Brown Rice canned and bagged dog foods, Venison and Brown Rice dog treats, and Venison and Green Pea dry cat food. Recent laboratory results show that the products contain melamine. We believe the source of the melamine is a rice protein concentrate. Natural Balance has confirmed this morning that some production batches of these products may contain melamine,” said a press released issued by Natural Balance.

The FDA states that the “investigation remains open and active, and the agency continues to follow leads to get closer to the root cause of the problem and to ensure that all contaminated product is removed from the market.”

“The source of the melamine appears to be a rice protein concentrate, which was recently added to the dry venison formulas. Natural Balance does not use wheat gluten, which was associated with the previous melamine contamination,” said the press release.

Bags, cans and zip lock bags of the food are expected to be the most affected.

“The products are packaged in bags, cans and zip lock treat bags and sold in pet specialty stores and PetCo nationally. No other Natural Balance products are involved in this voluntary recall as none of our other formulas include the rice protein concentrate,” added the press release.

The company states that the food, Venison & Brown Rice Dry Dog Food and Venison & Green Pea Dry Cat Food, are the only brands affected by the recall.

Friday, May 18, 2007

British explorer and mountaineer Edward “Bear” Grylls, has set a new altitude record by piloting a powered paraglider above Mount Everest reaching 29,494ft (8,990m). He and his fellow pilot, Giles Cardozo, who had invented and developed the parajet engine, set out on their attempt from the Himalayan village of Pheriche (altitude 14,435ft (4,400m)) in the early morning of 14th May.

Grylls, 33, is a mountaineer, best selling author and television presenter who spent three years with the elite British Special Air Service (“SAS”) forces. During this time he was involved in a horrific parachuting accident in which he broke his back in three places, almost severing his spinal cord. Remarkably, in 1998, after months of rehabilitation, he became at 23, the youngest British climber to scale Mount Everest and return alive.

Cardozo is considered to be one of the top paragliding pilots in the world, and it is reported that he and Grylls first came up with the idea for the attempt about a year ago when he had invented the engine that would take them up the mountain.

Grylls and Cardozo flew their paragliders together to 28,001ft (8,353m) surviving temperatures of minus 76°F (-60°C) and dangerously low oxygen levels, when a fault developed in Cardozo’s engine, and he had to abort his attempt just 984ft (300m) below the summit. Grylls went on to reach his record height at 09.33 local time. He had originally intended to cross the Mountain but turned back to base camp fearing that he might be arrested if he entered Chinese airspace.

On his return to Kathmandu, Grylls voiced his feelings of loneliness and exhilaration:

The attempt was sponsored by British technology and engineering group GKN. The project, GKN Mission Everest, raised £500,000 (approximately $1m) for Global Angels, a charity helping children in Africa, Asia and Latin America.

In a separate incident, a German paragliding champion has survived being sucked up by a storm to a height of 32,612ft (9,940m) whilst preparing for a world paragliding championship in Manilla, New South Wales, Australia.

Ewa Wisnierska, 35, the 2005 World Cup paragliding winner, lost consciousness and was covered in ice and battered by orange-sized hailstones as she was pulled upwards by the sudden tornado-like storm which she had been attempting to skirt. After regaining consciousness as she descended she was able to make contact with her ground team which had been tracking her by her GPS equipment, and landed safely 40 miles (60km) from where she took off.

Remarkably she spent only an hour in hospital after her experience, being treated for frostbite and blistering to her face and ears.

A fellow competitor, 42 year old Chinese man, He Zhongpin, who was also caught up in the storm, was not so fortunate and died from lack of oxygen and the extreme cold.

Monday, October 11, 2010

Wikinews interviewed author Amy Scobee about her book Scientology – Abuse at the Top, and asked her about her experiences working as an executive within the organization. Scobee joined the organization at age 14, and worked at Scientology’s international management headquarters for several years before leaving in 2005. She served as a Scientology executive in multiple high-ranking positions, working out of the international headquarters of Scientology known as “Gold Base”, located in Gilman Hot Springs near Hemet, California.

Sunday, August 15, 2010

Four people were killed and another four wounded in an early-morning shooting at a Buffalo, New York restaurant yesterday. The shooting occurred as a party held in the restaurant was coming to a close.

At about 2:30 a.m. EDT (06:30 UTC), shots were fired outside the City Grill in downtown Buffalo. The victims were leaving a party in the restaurant, said authorities. The City Grill’s managers had just decided to close the restaurant until it was scheduled to next open due to an argument inside when the shooting happened.

At least 100 people had attended the party, in order to celebrate the first anniversary of a couple whose wedding was held last year. A formal anniversary event was scheduled for a later date, officials said. The couple had married in Texas one year ago and came to Buffalo to celebrate with friends and relatives. The 30-year-old husband, who was born in Buffalo, was one of the four killed in the shooting, but his wife was not hurt.

Police have not yet released the identities of the victims. Of the three others killed, one was a 26-year-old man and two others were women. Those two were identified as 27-year-old Shawntia McNeil by McNeil’s mother, Ruby Martin, and 32-year-old Tiffany Wilhite by Martin and Tiffany Wilhite’s father, Raymond Wilhite. Three of the four were pronounced dead at the crime scene, while the fourth died in a hospital. The four injured in the shooting were all men, said authorities. As of Saturday afternoon local time, one was in critical condition at an area hospital, two were in stable condition, and one was in good condition.

Latoya Nuness, who witnessed the shooting as she was leaving the restaurant with friends, said, “I’ve never been through anything so crazy.” She and her companions then ran into the kitchen for cover. “They were just shooting whoever they could shoot,” she said.

Police arrested 25-year-old Buffalo resident Keith Johnson in connection with the shooting on Saturday afternoon. Johnson was charged with four counts of second-degree murder. Police do not know if he was a part of the fight that happened inside the City Grill, and have asked witnesses to step forward.

Saturday, October 4, 2008

The U.S. Senate passed a revised bailout bill designed to help the struggling U.S. financial economy, which has measures nearly identical to the bill rejected by the U.S. House of Representatives on Monday.

“Senate Democrats and Republicans believe it is essential that we work quickly on this important legislation to restore confidence to our financial system and strengthen the economy,” said Senate Majority Leader Harry Reid.

The new revisions include raising the FDIC insurance cap to $250,000, a move designed to please progressives. However, the $110 billion in tax breaks, earmarks and what has been called pork barrel spending is not offset by any increases in revenues and has added opposition to the bill from some Representatives in the House.

Earmarks added into the bailout bill included $192 million in tax rebates for the Virgin Islands rum industry, $148 million in tax cuts for the wool industry, $100 million tax cuts to the auto racing industry, and $48 million in Hollywood tax incentives.

Vice President of Taxpayers for Common Sense, Steve Ellis, offered his explanation for the pork and earmarks added in. “People who support some of these provisions will forget about the $700 billion and concerns they may have on that, and say, ‘If you give me a few million in tax breaks for my constituents, I’ll go along'”.

The tactic seems to have worked, however, managing to flip enough votes to pass the bill.

“The inclusion of parity, tax extenders and the FDIC increases has caused me to reconsider my position,” said Representative Jim Ramstad (R Minnesota), who voted against the previous bill on Monday. “All three additions have greatly improved the bill.”

But Representative Marcy Kaptur (D Ohio) was not changing her no vote. “I will not support this legislation because it’s the wrong medicine,” she said.

The Senate took H.R.1424, a bill originating in the House concerning “equity in the provision of mental health and substance-related disorder benefits under group health plans, to prohibit discrimination on the basis of genetic information with respect to health insurance and employment,” and extended it with the bailout provisions.

H.R.1424 was introduced on March 9, 2007, by Rep. Patrick Kennedy (RI-1) and had the support of First Lady Rosalind Carter. It is noted on the Congressional Website that “On 10/1/2008, the Senate passed H.R.1424 as the vehicle for the economic rescue legislation. In the EAS version of the bill (Engrossed Amendment as Agreed to by the Senate), Division A (pp.1-110) is referred to as the Emergency Economic Stabilization Act of 2008; Division B (pp. 110-255) is referred to as the Energy Improvement and Extension Act of 2008; and Division C (pp. 255-441) is referred to as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008.” It was not treated as an appropriations bill in the House.

There were two votes in the Senate. The first was to amend H.R.1424, which required 3/5 to be accepted, which it was. The second was a vote on the bill. Passage of the Bill required only a 1/2 majority. It was passed with 74 yeas and 25 nays. Senator Kennedy did not vote.