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Thursday, October 7, 2010

After 27 years, the Australian Dollar has achieved a record high by equating to 98.73 U.S. cents. The previous record was set in 1983, when the currency was floated by foreign exchange markets — since then the last peak that it experienced was in July 2008, when it was worth 98.49 U.S. cents. Local economists believe this is a clear indication that interest rates will rise in the near future.

The Australian Minister for Jobs, Chris Evans, has attributed the spike in the Australian dollar to government stimulus rolled out at the crux of the global financial crisis of the last several years, from which Australia exited relatively unscathed.

The news comes as the Australian Bureau of Statistics released a report stating Australian unemployment was set a 5.1 per cent after additional jobs were gained in previous months. American magazine Forbes magazine recently named Australian businessperson and CEO of Westpac Gail Kelly as the eighth most powerful woman in the world.

Monday, March 12, 2007

24 of 26 Swiss Cantons rejected the proposal for a single health insurance system, in which premiums would be based on income and wealth. The vote on Sunday was the latest in a series of attempts to cut rising costs and ease the financial burden on citizens.

Around 71% of voters rejected the reform. Turnout was at about 46%, slightly above the Swiss average.

As expected, voters in the main German-speaking part of the country turned down the planned reform, which was supported by the centre-left but opposed by the centre-right as well as the business community, parliament and the government.

Opposition in the French and Italian speaking regions was less pronounced. The cantons Jura and Neuchâtel in the French speaking regions voted in favor of the proposed reforms.

Health insurance premiums are higher in southern and western Swiss cantons than in German-speaking areas.

The Swiss Interior Minister Pascal Couchepin said an important part of the Swiss Population appeared to be opposed to “a revolution” in health insurance but he said that he wanted current reforms currently under discussion in the Swiss Parliament to go ahead. He called on all sides, especially health insurers and the cantonal authorities, to make efforts to reduce spending on health insurance and aim for a greater cost efficiency. Currently Switzerland has 87 private insurers providing mandatory basic health care coverage for Swiss residents under a 1996 law. But costs have sky-rocketed. Over 100,000 people are not covered by health insurance due to non payment.

Opponents to the initiative argued that a single insurance system would lead to complacency and create a two-tier system, in which the wealthy would be the only ones available to afford to have additional private insurance coverage.

Supporters of the initiative said a single health insurer would increase the system’s efficiency and allow for annual savings of at least 300 million Swiss Francs (about $245 million) in administrative costs. Currently, the funding system is unbalanced, since many clients on low incomes use state subsidies to pay their premiums, according to the Green Party and the Social Democrats.

The initiative to unite all the insurance companies and introduce premiums based on wealth and income was the most recent in a series of attempts over the past ten years to reduce the public spending on health care. A proposal, similar to this recent proposal, to modify the funding system of the health insurance companies was rejected by 73% of voters in 2003.

Switzerland has the most expensive health system in Europe. Switzerland’s expenditure on health care was 11.6% in 2005, in front of Germany and France but behind the United States.

Thursday, December 7, 2006

The New Zealand Government has tabled the Therapeutic Products and Medicines Bill, despite unprecedented political opposition.

In 2003 the Hon Annette King signed a Treaty with Australia agreeing to hand control of the natural health products sector over to an Australian regulatory body, however she needs to pass enabling legislation in New Zealand. “This will be a world-class joint scheme designed to regulate the safety, quality, effectiveness and promotion of therapeutic products in both New Zealand and Australia. That includes the regulation of complementary and alternative medicines, over-the-counter and prescription medicines, medical devices, blood and blood products and tissues and cellular therapies,” Ms King said.

Twice the Bill has been thrown out by select committees, but the Government is determined to ram it through Parliament, according to the New Zealand Health Trust.

“Late tonight the Bill was finally tabled, with no announcement from the Minister,” said Amy Adams, spokesperson for the Trust, “Clearly the Minister is keen to sneak it into Parliament under cover of the silly season, in the hope that she can keep it under the public’s radar.”

“I welcome the support of a majority of the House who want to see the Bill go to Select Committee where New Zealanders can have their say,” Ms King said.

The NZ Health Trust conducted research earlier this year which showed 62% of New Zealanders used natural health products. “This Bill represents a massive and irreparable change to the way we make rules for New Zealand dietary supplements,” Mrs Adams said.

“Under the proposed regime, well over a million New Zealand consumers would find the choice of products adversely affected, and experience cost increases. So you can see why the Government is trying to sneak this into the House without any fuss – they don’t want the public to know.”

All the political parties except Labour have pledged their opposition the proposal, despite some intense lobbying by Australian and New Zealand officials.

“It is a very serious thing to hand sovereignty over your country over to another nation,” Mrs Adams said. “And all the other political parties see the sense in making sure the sector is regulated from New Zealand – not as a minor state of Australia.”

Ms King said: “The Bill… ensures that New Zealand will have an equal say in the setting up and running of the new Authority and joint scheme.” The new authority will be like a crown-owned entity and will have to provide an anuual report and a statement of intent to parliament each year.

Friday, October 21, 2016

The following is the fifth edition of a monthly series chronicling the U.S. 2016 presidential election. It features original material compiled throughout the previous month after an overview of the month’s biggest stories.

In this month’s edition on the campaign trail: an arrest warrant is issued for the Green Party presidential and vice presidential nominees; the “Birther King” opens up about Donald Trump’s changing view on President Obama’s place of birth; and Wikinews interviews a write-in presidential candidate hoping to run the “most libertarian” campaign in history.

Sunday, December 2, 2007

American heavy metal performer Ozzy Osbourne, who became famous as the lead vocalist for Black Sabbath and later as a solo act, has raised more than US$800,000 for The Sharon Osbourne Colon Cancer Program, founded by his spouse Sharon Osbourne at the Cedars Sinai Hospital, by auctioning off personal items.

A number of the items that he auctioned off over the two day period have been seen on his reality TV show The Osbournes, which featured home life with Sharon, Ozzy and their two children. Amongst some of the higher-priced items were a carved walnut Victorian-style custom built pool table which raised $11,250, a painting from Edourad Drouot which fetched $10,500, a pair of Ozzy’s famous round glasses which raised $5,250 and a dog bed given to Sharon by Elton John which sold for $2,375.

Some more famous items were also amongst the 500 lots offered. Ozzy’s black satin coat, complete with bat-wing cape, raised $3,300 and a hand-painted floral cup used regularly on The Osbournes made $1,625. A bronze plaque of a demon’s head that was regularly seen in its position adorning the front door of their house had been expected to go for $800 to $1,200instead raised $8,750. A wire model of the Eiffel Tower from on the kitchen table sold for $10,000, while skull-covered trainers Ozzy had worn reached $2,625. Bidders came from as far away as Germany to buy what they could from his mansion in Beverly Hills, California.

However, three cars included in the auction failed to attract bidders and did not sell. They were a 2006 Bentley Continental Flying Spur, estimated at $160,000 to $180,000, a 2005 Cadillac CTS-V sedan estimated at $30,000 to $40,000 and a 1950 Oldsmobile Futuramic 88 Club Coupe previously owned by author Danielle Steel estimated at $40,000 to $50,000. Sharon had earlier said of the cars “We’re not great car people. They really don’t do a lot for us.

Darren Julien, president of Julien’s Auctions, which organised the two-day sale, said “It did very well. It raised some good money for a very worthy cause.”

“For a celebrity garage sale, it was pretty spectacular.,” he went on. He also commented on the fact that there was fierce competition for the many artworks included. “We had Ozzy fans bidding against these sophisticated fine art buyers, which you don’t see every day. For the most part the metalheads were outbidding the art crowd.”

Wednesday, June 15, 2011

A woman has been found dead at the home of Sam Abal, the acting prime minister of Papua New Guinea. The body was discovered in the garden of the property early Monday morning. Abal’s adopted son, Teo, was arrested on Wednesday after a two-day search; he was reportedly the last person to be seen with the woman.

A murder investigation has been opened by Papua New Guinea police. Abal, currently living in a local hotel, released a statement, saying: “The alleged murder took place within the perimeters of my private home. All family members living with me are immediate suspects and are subject to investigation and questioning by police.”

Police Commissioner Anthony Wagambie commented on Teo Abal’s arrest, saying, “He was caught last night at the Pondorosa Hotel in Port Moresby and is currently being interviewed by police.”

Sam Abal has been the acting prime minister of Papua New Guinea since April of this year, when 75-year-old leader Michael Somare underwent heart surgery. Somare’s recovery has been extended but no date has been given as to his return.

Wednesday, November 4, 2015

The Volkswagen emissions scandal continued yesterday with the company announcing 800,000 mainly diesel vehicles may also be affected by carbon dioxide emissions problems.

The company stated “the safety of the vehicles is in no way compromised”. They estimated potentially this could cost them €2bn on top of the €6.7bn set aside to pay for the cost of correcting 11 million cars affected when the scandal broke, in addition to fines by regulators.

This follows Monday’s revelation that the emissions scandal has affected up to 10,000 vehicles sold in the USA by brands in the Volkswagen group, although the company refutes the allegation. The United States Environmental Protection Agency (EPA), the regulatory body which has been investigating Volkswagen, claims the company fitted a number of recent Audi, Porsche, and Volkswagen models with technology that initiates secret components during emission tests to ensure the results are favourable.

The scandal began with damaging revelations that the car manufacturer has been using illegal software to enable diesel cars to cheat on mandatory emissions tests. This lead to a public apology on September 20 by then-chief executive Martin Winterkorn and the promise of an outside inquiry. He then resigned on September 23, and was replaced by Matthias Müller. The new allegation about Porsche is of particular concern for Müller, because he had previously been in charge of Porsche.

The company is expected to foot the bill for the recall of close to 500,000 VW and Audi cars affected at the time. There is also the possibility of Volkswagen having to pay federal fines of up to US$18 billion dollars because the US Clean Air Act sets a maximum fine of US$37,500 for each vehicle that contravenes the requirements of the Act.

An investigation into alleged breaches of environmental law was originally initiated on the advice of the International Council on Clean Transportation, a European non-governmental organisation. The EPA requested tests be carried out by West Virginia University, where the secret software was discovered.

The software, known as a “defeat device”, enabled cars to identify when they were being tested and to switch on the emission control system. The devices may have been adding urea to the car exhaust because that would reduce the amount of nitrogen dioxide. The car would release a fraction of the nitrogen oxide compared to when they were being driven normally. Emissions of nitrogen oxide contribute to smog and are thought to have caused a rise in respiratory illnesses like asthma.