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Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

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Friday, July 22, 2005

Administrators PriceWaterHouseCoopers (PWC) have announced that the British car company MG Rover and its engine manufacturer Powertrain Ltd has been sold to Chinese company Nanjing Automobile for an unknown sum of money. The company beat bids from Shanghai Automotive (SAIC), despite being the smaller of the two.

MG Rover collapsed this Spring, after struggling to make a profit for several years.

SAIC had tried to buy only the engine plant and then transfer it to China, but in June Nanjing Automobile approached PWC with a combined bid for both the car manufacturing company and Powertrain. This Monday SAIC bid for both but the offer was inferior to Nanjing’s.

Nanjing has indicated that it too will move the engine production plant to China, along with some car manufacturing. However it also intends to continue building cars in Britain, and establish an engineering research and design centre there in an effort to expand its sales globally. Nanjing intends to start hiring at once.

Wednesday, June 20, 2007

A study published on June 18 in the American Proceedings of the National Academy of Sciences has found a link between the consumption of foie gras and other meat products and a number of diseases, including Alzheimer’s disease, rheumatoid arthritis, diabetes mellitus type 2, tuberculosis, and amyloidosis. The link exists in genetically susceptible individuals.

The study was lead by Alan Solomon, M.D., a professor and researcher at the University of Tennessee Graduate School of Medicine and the director of the Human Immunology and Cancer / Alzheimer’s Disease and Amyloid-Related Disorders Research Program. Amyloidoses are a group of disease states caused by the deposition in vital organs of proteins in the form of fibrils, causing a range of symptoms such as swelling and kidney damage. The deposition of amyloid beta in the brain is central in the origin of the disease process of Alzheimer’s disease. Foie gras is made from the livers of ducks or geese that have been force-fed.

According to Solomon, “we posit that this and perhaps other forms of amyloidosis may be transmissible, akin to the infectious nature of prion-related illnesses [such as mad cow disease]. In addition to foie gras, meat derived from sheep and seemingly healthy cattle may represent other dietary sources of [the fibrils]. People with a family history of Alzheimer’s disease, diabetes, rheumatoid arthritis or other amyloid-associated diseases should avoid consuming foie gras and other foods that may be contaminated with fibrils,” continued Solomon.

Thursday, July 26, 2007

A military weapons storage facility in al-Masalmyiah, just north of Aleppo, Syria has exploded, killing at least 15 Syrian soldiers and injuring at least 50 others. The explosion occurred on the grounds of a military academy’s infantry school where weapons and ammunition are stored.

The blast, which occurred at 4:30 a.m. EEST (UTC+3) is believed to have been caused by excessive summer temperatures, but other reports suggest that a gas leak may have sparked the blast. The incident is reported to not be terrorism related.

“[The blast was] not the result of sabotage. There is a heat wave and temperatures reached close to 50 degrees (Celsius) [Nearly 115 (Fahrenheit)], which caused an ammunition dump to explode,” said an unnamed Syrian official.

Firefighters report several deaths and injuries, but also said that the fires caused by the blast have been extinguished.

Monday, March 20, 2006

Buffalo, New York —On Saturday March 18, citizens in Buffalo demonstrated to make their voices be heard. The protest mounted by people opposed to the Elmwood Village Hotel proposal took place on the proposed site at Forest and Elmwood Avenues.

The Elmwood Village Hotel is a 72-room, seven-million-dollar hotel proposed by Savarino Construction Services Corporation. The hotel would require the demolition of at least five buildings (1109-1121 Elmwood), which house several shops and residents. Karl Frizlen, an architect with Frizlen Group, designed the hotel. Although the properties are “under contract,” it is still unknown if Savarino Construction actually owns the buildings. It is believed that Hans Mobius, a resident of Clarence, New York and former Buffalo Mayorial candidate, is still the owner. The hotel is expected to be a franchise of the Wyndham Hotels group.

Despite the cold weather, at least 40 people showed up to walk the picket line for 2 two hours.

Clarence Carnahan, a Buffalo resident, supplied signs that citizens could use during the protest. Some of the signs said, ‘No vacancy, No hotel,’ ‘No tell hotel,’ ‘Hans off’ and ‘Our neighborhood, our choice, no hotel.’

“The concern is they are going to tear down established businesses that have been here for years,” said Charles Leist, a protester.

“We’re fighting to the bitter end. We’re hoping that we can squelch this. We don’t think we can, but we’re going down kicking and screaming,” said Patty Morris, co-owner with Nancy Pollina of Don Apparel at 1119 Elmwood. Don Apparel is a vintage clothing and collectible shop and has been at the same location for nearly 14 years.

The city’s Common Council is expected to vote on the proposal on Tuesday, March 21, 2006 at 2:00 PM in Council Chambers, on 13th floor in City Hall.

The Planning Board is expected to vote on the proposal on Tuesday, March 28, at 8:00 AM in room 902 on the 9th floor of City Hall.

Even if the Common Council approves the proposal, the Planning board will get the final say in the matter.

So far, no other protests are scheduled. Organizers say they will wait until the Common Council votes before organizing any more protests.