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Sunday, August 21, 2005

A robotic system at Stanford Medical Center was used to perform a laparoscopic gastric bypass surgery successfully with a theoretically similar rate of complications to that seen in standard operations. However, as there were only 10 people in the experimental group (and another 10 in the control group), this is not a statistically significant sample.

If this surgical procedure is as successful in large-scale studies, it may lead the way for the use of robotic surgery in even more delicate procedures, such as heart surgery. Note that this is not a fully automated system, as a human doctor controls the operation via remote control. Laparoscopic gastric bypass surgery is a treatment for obesity.

There were concerns that doctors, in the future, might only be trained in the remote control procedure. Ronald G. Latimer, M.D., of Santa Barbara, CA, warned “The fact that surgeons may have to open the patient or might actually need to revert to standard laparoscopic techniques demands that this basic training be a requirement before a robot is purchased. Robots do malfunction, so a backup system is imperative. We should not be seduced to buy this instrument to train surgeons if they are not able to do the primary operations themselves.”

There are precedents for just such a problem occurring. A previous “new technology”, the electrocardiogram (ECG), has lead to a lack of basic education on the older technology, the stethoscope. As a result, many heart conditions now go undiagnosed, especially in children and others who rarely undergo an ECG procedure.

Monday, July 11, 2011

China’s National Bureau of Statistics released data Saturday showing that the consumer price index (CPI) for June climbed 6.4% from a year ago. That compares with a 5.5% rise in May, which was the largest since a 6.3% increase in July 2008. The major factor contributing to this figure was the steep rise in food prices which climbed 14.4%. Pork is a major food staple in China, and its price rose 65% from last year.

Analysts predicted that China’s inflation would peak in June, but particularly worrisome was the steep rise in the cost of food from the same time last year and up from 11.7% in May, indicating that Beijing may have difficulty in controlling inflation.

China is the world’s second largest economy, having grown robustly in the last two years driven by a 2009 governmental stimulus package of $586 billion and low interest rates offered by state-owned banks. These were directed at promoting investments in real estate construction and government infrastructure projects, enabling China to lead the global recovery after the collapse of the U.S. mortgage market led to a worldwide recession.

Now Beijing is attempting to slow its fast pace of growth, fearful of inflation, by restricting bank lending and raising interest rates. High inflation along with high property values could hurt the economy. Since October, China’s Central Bank has raised interest rates five times.

Many factors are contributing to China’s inflation, including higher wages for migrant workers, increases in the prices of food and gasoline, as well as diminished output from crucial agricultural areas cause by droughts and flooding this spring.

Today, China’s Premier Wen Jiabao indicated that the war on inflation was continuing and controlling inflation was a top priority for the government, increasing expectations that interest rates would be further increased.

“We must treat stabilising overall price levels as the top priority of our macro-economic controls and keep the direction of macro-economic adjustments unchanged,” Wen said today in comments reported on the central government’s website. He had said in March that the ruling Communist Party is worried that a continuing rise in food prices could result in public protests.

Wen said the government would boost the supply of hogs to keep the price of pork stable, the price of pork being the major contributor to China’s food inflation index and the most closely watched item on it.

“If they signal any comfort with inflation, and inflation is as high as it is now, they could create an environment in which people would panic, and they can have a real problem on their hands,” said Tim Condon, Asian researcher at ING.

As markets worried about the news of Chinese inflation as well as concerns about the European debt crisis, oil dropped below US$95 a barrel today.

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

Friday, July 20, 2007

On Friday, a group of hikers and 18 boy scouts were airlifted by helicopters away from a wildfire in Nephi Canyon, Utah. The hikers and scouts escaped into a rough rocky area to keep a safe distance from the dangerous wildfire after it advanced on their campground.

The wildfire started in a campground in Salt Creek Canyon, 85 miles from Salt Lake City, and has burned 13,000 acres across 20 square miles as of Friday. The fire has burned a campground and motel, and forced the evacuation of all campgrounds and cabins in its path.

Sunday, December 20, 2009

Eurostar trains have been suspended today due to cold weather, and further snowfall is predicted in the United Kingdom, while the rail company attempts to work out what caused a series of electrical flaws on Friday.

On Friday night, more than 2,000 people were trapped in the Channel Tunnel for sixteen hours after the cold weather and condensation caused a number of electrical faults.

Calais port, in the French city where the Channel Tunnel terminates, was also closed yesterday, causing traffic problems on the roads around the English cities of Dover and Folkestone, near the tunnel’s British entrance.

The Conservative Member of the European Parliament for the south-east of England, Nirj Deva, has called for Eurostar chief executive Richard Brown to resign, saying that it would be the “decent thing” to do in the light of “astonishing incompetence”. Brown has apologised for the incident, and said it was “absolutely unprecedented”, and conceded that “it took too long to get the trains out”.

Kent Police say that there is now very little traffic waiting for a place on the Channel Tunnel, with more than 3,500 vehicles having crossed the English Channel on ferries. Supt. Andy Rabey made a statement on the suspension: “Overnight we’ve been working very hard with our partners to clear the queues and help people get away for Christmas. If you have a crossing booked and haven’t set out yet, check with your operator before leaving home.” A Eurostar spokeswoman issued an apology, in which she said that “it’s not possible” to run services.

Wednesday, May 11, 2016

In a deal announced yesterday, German association football defender Mats Hummels, the current captain of Borussia Dortmund (BVB), agreed to sign a five-year contract with his boyhood club — and arch rivals of Dortmund — Bayern Munich next season. The arrangement was conditional on Hummels undergoing medical tests before signing.

Hummels previously spent twelve years with the Bavarians, Bayern Munich, coming from their youth system. He moved to Dortmund in 2007 after appearing that year in one Bundesliga match for Bayern.

With BVB, center back Hummels won two Bundesliga titles, one DFB-Pokal Cup in 2012 when they won the domestic double under Jürgen Klopp; and a silver medal in the 2013 UEFA Champions League. He also won the 2014 FIFA World Cup.

“Mats is one of the best centre-backs in the world”, said Karl-Heinz Rummenigge, chairman of FC Bayern München AG. “With him we will increase the quality in our team even further.” Dortmund’s CEO Hans-Joachim Watzke said Hummels had “always been open and fair towards” them.

Hummels is to join Bayern side on July 1 — one year before his pre-existing contract expires with BVB. Dortmund’s website quoted Hummels saying “the decision was not easy for me after eight and a half successful years with BVB. I have always been proud and am still proud to wear the BVB jersey and to be part of this extraordinary team.”

Dortmund is to face Bayern Munich in DFB-Pokal Cup this month. After joining Bayern, Hummels would share the dressing room with his former Dortmund teammates Robert Lewandowski and Mario Götze.

Thursday, October 22, 2020

2020 Melbourne Lord Mayor candidate Wayne Tseng answered some questions about his campaign for the upcoming election from Wikinews. The Lord Mayor election in the Australian city is scheduled to take place this week.

Tseng runs a firm called eTranslate, which helps software developers to make the software available to the users. In the candidate’s questionnaire, Tseng said eTranslate had led to him working with all three tiers of the government. He previously belonged to the Australian Liberal Party, but has left since then, to run for mayorship as an independent candidate.

Tseng is of Chinese descent, having moved to Australia with his parents from Vietnam. Graduated in Brisbane, Tseng received his PhD in Melbourne and has been living in the city, he told Wikinews. Tseng also formed Chinese Precinct Chamber of Commerce, an organisation responsible for many “community bond building initiatives”, the Lord Mayor candidate told Wikinews.

Tseng discussed his plans for leading Melbourne, recovering from COVID-19, and “Democracy 2.0” to ensure concerns of minorities in the city were also heard. Tseng also focused on the importance of the multi-culture aspect and talked about making Melbourne the capital of the aboriginals. Tseng also explained why he thinks Melbourne is poised to be a world city by 2030.

Tseng’s deputy Lord Mayor candidate Gricol Yang is a Commercial Banker and works for ANZ Banking Group.

Currently, Sally Capp is the Lord Mayor of Melbourne, the Victorian capital. Capp was elected as an interim Lord Mayor in mid-2018 after the former Lord Mayor Robert Doyle resigned from his position after sexual assault allegations. Doyle served as the Lord Mayor of Melbourne for almost a decade since 2008.