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Friday, July 15, 2011

On Tuesday, the Euro fell to a new record low in relation to the Swiss Franc, and to multi-month lows against the U.S. Dollar and Japanese yen; all considered by investors to be safe currencies during times of economic turmoil.

The Wall Street Journal reported earlier that recent comments from the newly installed head of the International Monetary Fund, France’s Christine Lagarde, resulted in a sell-off of the Euro. At a roundtable discussion in Washington, Lagarde noted that the IMF had not yet reached discussion of terms and conditions of a second Greek bailout plan. In fact, a representative from the IMF is currently meeting with Eurozone policymakers to draft such a new proposal. The yield differential between Italian bonds and German bonds has spread to more than 300 basis points, something not seen in over a decade and evidence of investors’ concern.

Adding to the Euro’s woes is the upcoming release of the bank stress tests on Friday. The European Bankers Association said that they expect the data release to shed new light on the Eurozone’s banking situation. Representatives of several of the Eurozone’s governments, including Germany, have requested that the association consider releasing fewer specific details for fear that investor panic will ensue. The inadequacy of the capitalization rates has been an issue with the European Central Bank, whose president recently called upon Eurozone banks to make every effort to put their balance sheets in order.

For the time being at least, an unsubstantiated rumor reported by the Wall Street Journal states that the Eurozone’s central banks’ purchase of periphery debt has helped to quell the downward momentum of the Euro.

Tuesday, August 2, 2005

Massey Energy Co., the fourth largest coal producer in the U.S., filed a federal lawsuit against the Governor of West Virginia, Joe Manchin.

Massey’s CEO Don Blankenship alleged that Gov. Manchin acted in retaliation against the company’s coal mining operations because the company spent $650,000 in an advertising campaign to defeat the governor sponsored pension bond proposal. The $5.5 billion bond proposal, intended to shore up the state’s sagging pension plan, was defeated in a special election held in June.

The Massey lawsuit, filed last Tuesday on July 26 in the U.S. District Court in the W.V. southern district, was referred to by Gov. Manchin as having less to do with the bond proposal than with the newly increased state “severance tax” on coal. Nearly 40 million tons of coal production will be subject to the 56-cent tax.

According to Blankenship, that tax amounts to $22.4 million in additional costs for the company, but he denied the increase has anything to do with the lawsuit.

The company reported profits that almost tripled during the second quarter compared to a year ago. Of the company’s rosy earnings picture, Blankenship urged states to “show some frugality” by not placing tax burdens on coal to solve state budget shortfalls. He said his company is “playing a role” because there was no need for the bond sale and the state can afford to make payments into the pension system.

Blankenship acknowledged during a conference call the now-rescinded June 30 permit by the W.V. Department of Environment Protection (DEP). At issue was the department’s permit for mining operations near the Marsh Fork Elementary School, in Sundial, W.V. The school rests at the base of a mountain selected by Massey for “Mountain Top Removal” (MTR) mining techniques. Along with the mining equipment, a coal preparation plant and a sludge pond were established on the mountain. Protest groups, mainly the Coal River Mountain Watch and Mountain Justice Summer, presented a list of demands to Massey officials that included shutting down the preparation plant, ceasing all MTR mining above the Marsh Fork Elementary School, and abandoning plans for a second coal silo near the school. They also ask that the Marsh Fork school be cleaned up or relocated. The state permit for a second coal storage silo was rescinded by the DEP the same day Massey filed the Manchin lawsuit.

Gov. Manchin in June said that Blankenship could expect tougher state scrutiny of his business affairs since the Massey media campaign against the pension bond proposal. “I think that is justified now, since Don has jumped in there with his personal wealth trying to direct public policy,” he said at an appearance at an American Electric Power event in Putnam County.

Friday, April 23, 2010

Minas, one of the largest states of Brazil, has stopped the sale of the Toyota Corolla over safety concerns.

The move was made after nine Corolla customers reported that their cars automatically accelerated. The state public prosecutor’s office said in an online statement on Tuesday that the problem is blamed on accelerator pedals sticking underneath floor mats. Local government said the issue was “putting in danger the lives of occupants”.

According to the prosecutor’s office, sales of Corollas may resume when Toyota alters the floormats in its current models. Toyota has recalled over eight million vehicles worldwide due to acceleration problems.

Friday, March 11, 2005

A Lockheed-Martin built Atlas V launch vehicle, successfully launched from Cape Canaveral, Florida at 21:42 UTC (4:42 p.m. EST). It placed the Inmarsat 4 F-1 communications satellite into orbit. This was Lockheed-Martin’s second try to launch the satellite. Yesterday’s attempt ended in a scrub when the flight control computer passed a red-line with less than three minutes remaining in the countdown.

This was the fifth launch of the Atlas V vehicle, and the first launch where the rocket used three of the first stage, Aerojet built, solid rocket motors. It also had the narrower 4 meter payload fairing.

For the first part of the flight, the rocket was powered by a common booster core with two RD-180 rocket engines plus three solid rocket motors. When their fuel was expended the solid rocket motors burned out and were jettisoned.

The common booster core then continued pushing the payload and upper stage, with its two RD-180 engines producing 806,000lbf of thrust. The common booster core expended its fuel around four and a half minutes into the flight. At this point the first stage common booster core separated from the upper stage and payload.

After the stage separation, the Centaur upper stage started its engine and burned for nearly ten minutes. During this burn, the payload fairing separated from the spacecraft, leaving the satellite exposed on the nose of the rocket in the vacuum of space. When the ten minute burn was up, the Centaur coasted with the satellite for another ten minutes waiting to get to the optimal point for the final burn. At around 24 minutes into the flight, the final burn of the Centaur stage occurred, placing the spacecraft in a super-synchronous transfer orbit. After this burn was complete, the Centaur separated, leaving the spacecraft on its own.

Now the spacecraft must attempt to open its solar arrays and place itself in the final geostationary orbit. Because of this special type of orbit, where the spacecraft goes around once every 24 hours, the satellite will appear to sit in one place over the equator. From this location, Inmarsat will use it to provide BGAN (Broadband Global Area Network) which is a 3G compatible, 432kbit/s data service, to much of the world.

The Atlas vehicle was rolled out of its vertical integration facility 1800 feet from the launch pad early yesterday morning (before the first launch attempt). The reason for this launch day move is because of the clean pad concept.

Past American rockets (with the exception of the Saturns and Space Shuttles) have always been assembled on the launch pad. In the case of a delay in launching, this would cause delays in all the rockets that needed to be launched after the one that experienced the delay. With the new clean pad concept, rockets can be assembled and checked out before being moved to the pad, saving delays in the schedule.

The launch tower and rocket move out to the pad along a set of railroad tracks, making the 1800 foot journey in approximately half an hour, topping out around two miles per hour.

Because of the clean pad concept, none of the launch control electronics or spacecraft environmental systems are on the pad. Instead, they are run along the railroad tracks with the rocket as it moves to the pad on launch day. When they get there, they slide into concrete enclosures so that they are not destroyed during the rocket launch.

Monday, August 8, 2005

The House of Councillors, the upper house of the Diet of Japan, voted on the controversial bill that would have privatized the Japanese Postal Service at around 1 p.m. (JST, UTC +8) on Monday, August 8. The bill was rejected by a slim margin – 108 for, 125 against, one abstention and two intentional absences – after a rebellion within the ruling Liberal Democractic Party (LDP).

The Prime Minister, Junichiro Koizumi, had promised that the privatization of the Postal Service, which is also Japan’s largest savings bank, would “revitalize” the Japanese economy. He has also stated that the commercialization of the Postal Services was at the core of his policies, and threatened to dissolve the houses and call for an immediate election in case of a defeat.

As promised, the rejection led to an immediate call of the cabinet ministers at 3pm to dissolve the House of Representatives. For the dissolution to be valid all cabinet ministers must jointly sign an edict issued in the name of the Emperor. Cabinet minister Shimamura Yoshinobu, the Minister of Agriculture, Forestry and Fisheries, refused to sign the edict, and resigned. The dissolution was officially announced by Chair Kono at the Diet later in the evening.

The election is reported to be held on September 11.

Thursday, October 19, 2017

On Monday, digital security researchers Mathy Vanhoef and Frank Piessens of Belgium’s KU Leuven university publicly disclosed a security vulnerability in the WPA2 Wi-Fi (wireless local-area networking) protocol, which they called KRACK (for Key Reinstallation Attack). Their study claimed KRACK affects every modern device using Wi-Fi; it can be fixed by a software update, researchers said.

Vanhoef wrote, “Attackers can use this novel attack technique to read information that was previously assumed to be safely encrypted. This can be abused to steal sensitive information such as credit card numbers, passwords, chat messages, emails, photos and so on.” Vanhoef notified vendors about the flaw in July, including UNIX-like operating system OpenBSD. “If your device supports Wi-Fi, it is most likely affected. […] In general, any data or information that the victim transmits can be decrypted”, he wrote.

The study papers, which were submitted for review on May 19, were kept in confidence allowing companies to fix the security flaw. The United States-based Computer Emergency Response Team (CERT) informed vendors on August 28. The Wi-Fi Alliance said it “could be resolved through a straightforward software update.” OpenBSD released their software patch on August 30.

Exploring the flaw which affected every device the researchers had tested, National Cyber Security Centre of the UK said “the attacker would have to be physically close to the target”. But due to this flaw, an attacker can send malware or ransomware on the websites, Vanhoef claimed.

Linux-based operating systems including Android v6.0 and higher are especially affected by this flaw, while Windows and iOS are not as vulnerable as Android by this flaw as they do not fully implement WPA2.

Microsoft reportedly has released security patches for Windows 7, 8, 8.1 and 10. Google said Android operating systems would receive the updates in the software update scheduled to be made available on November 6. Apple has implemented the patch in the beta versions of their operating system iOS, macOS, tvOS and watchOS, however it is yet to roll out patches for stable operating systems.

WPA2 protocol has been used for more than a decade, and has been compulsory for Wi-Fi since 2006. KRACK would also affect various home appliances which can be controlled over Wi-Fi, within the so-called “Internet of things”. Andrew Martin from Oxford University said, “We can be sure a lot of these devices won’t be patched[…] Whether that matters for this attack or only for some future attack is yet to be seen.”

The study and its findings are scheduled for presentation at the ACM (Association for Computing Machinery) Computer and Communications Security conference on November 1.

Sunday, March 13, 2011

The new version of Apple Inc.’s tablet computing device, the iPad 2, has gone on sale in the United States at Apple Stores and a number of other retailers (including Wal-Mart, Target, Sam’s Club, Best Buy, Verizon, and AT&T), a shift from last year’s launch which was only available through Apple’s stores. The product will go on sale internationally on March 25.

The device was announced on March 2 at an event at the Yerba Buena Center for the Arts in San Francisco, California. CEO Steve Jobs emerged from sick leave to make the announcement.

The iPad 2 has an all-new design and has several improvements over the original iPad. The device runs on a dual-core Apple A5 CPU. According to Jobs, the CPU’s new dual-core capability enhances multitasking and doubles the processing speed. Apple additionally introduced a magnetic ‘Smart Cover’ accessory that snaps to the front screen of the device along with several new apps ported from the Mac OS X operating system and the iPhone. These include iMovie, GarageBand, and Photo Booth. The new iPad introduces front and rear cameras which enable FaceTime and video. The new tablet is fifteen percent lighter and 33 percent thinner than the previous version—thinner than an iPhone 4—and has beveled edges. It is available in black and white and continues to be capable of ten hours of battery life on a single charge.

The announcement came after months of rumors about the successor to the original iPad. Competitors have designed tablets to compete with the iPad, such as Motorola’s Xoom powered by the Android operating system. Apple, who normally follows a yearly product cycle, has pressed its iPad successor into the marketplace almost a full month earlier than usual.

Tablet computers have existed for years but, until recently, have not been popular amongst consumers. Tablet sales totaled 90,000 in 2009. Apple sold nearly fifteen million iPads worldwide in 2010, generating US$2 billion in revenue within three months. In 2010, Apple held a 75% share of the tablet computer market. According to one analyst, even with competition, iPads will still make up at least 20 million of the more than 24 million tablet computers sold in the United States in 2011. An analyst predicted ‘conservatively’ that 35 million iPad 2s will be sold in 2011. One analyst credits Apple’s enormous App Store for the iPad’s continued domination. Apple also holds an advantage in price over other tablets, many of which are still first generation devices. An analyst at J.P. Morgan predicts an overabundance of tablets caused by faltering demand. This could have drastic effects on competitors.

The iPad connects to the Internet over Wi-Fi and 3G models of the new device can connect to the wireless networks of AT&T or Verizon Wireless. The iPad 2 will start at US$499—the same starting price of the original iPad. The equivalent model of the original iPad has been reduced to US$399.

Timeline of Apple touchscreen devices