September 2010 Edition
MARKETS
According to a U.S. rating agency, America's stockmarkets, with a total market capitalization of US$15.1-trillion at the end of last year, were the world's largest. They were also the world's most active, with shares worth nearly $47-trillion, triple the market capitalization, changing hands during the year. Among emerging markets, only China's make the top ten either by market capitalization or value traded. The number of domestic companies listed on Indian exchanges is the largest in the world.
OUTSOURCING
After years of whittling staff and cutting back services, U.S. cities and towns are now outsourcing some of the most basic functions of local government, from policing to trash collection. Services that cities can no longer provide are being contracted to private vendors, counties, or even neighbouring towns. Maywood, a small California town of 40,000 is letting go of its entire staff and contracting with outsiders to perform all city services. The city is disbanding its police force and handing public safety over to the Los Angeles County Sheriff.
BROADBAND
Finland has become the first country in the world to make broadband a legal right for every citizen. As of last July, every Finn has the right to have access to a 1Mpbs (megabit per second) broadband connection, meaning all telecommunication companies are obliged to provide all residents with broadband lines that can run at this minimum speed. The country has vowed to connect everyone to a 100 Mbps connection by 2015.
LABOUR
As economies across the developed world fell into recession, legal permanent immigration to the mostly rich members of the OECD declined by 6 per cent after five years during which growth averaged 11 per cent. Despite the slowdown in the arrival of new immigrants, the number of foreign-born workers in most OECD countries rose in 2008 from a year earlier. In 2007, one in every four workers in Australia was born abroad; in 2008 that share rose to 26.5 per cent. Among OECD countries for which data is available, the share of the foreign-born fell only in Luxembourg, Austria Belgium and France. The number in America rose by 308,000 in 2008, to 25.1-million.
MILK
European grocery shelves may soon be stocked by milk from camels. Promoters from the United Arab Emirates say the milk is very healthy. People with lactose intolerance can drink it, unlike cow's milk: it doesn't contain protein allergies and it is high in insulin. Similar in taste and appearance to cow's milk, camel milk is closer in composition to human milk. The European Union is sending a panel to inspect the UAE's two dairy farms. By next year, the milk may be exported to the U.S. and Canada, as well as China and Hong Kong. It is likely to cost at least US$1.50 more per litre than regular milk.
FLOODING
Heavy rains have washed away two million seeded acres in Western Canada this summer, lowering the yearly total 10-million below the five year average. The maximum estimated total seed acreage in Western Canada is 52-million. Farmers typically spend C$70- $110.00 per acre depending on types of crops grown and the areas in which they are seeded. Industry sales are expected to decline by 17 per cent this year. The average annual value of Western Canadian agri-products is around $4.6-billion.
OPIUM
According to the U.N Office of Drugs, The global production of opium declined from 8,890 tonnes in 2007 to 7,750 tonnes last year. Most opium, which is derived from poppies, is converted into heroin. Two-thirds of the balance is used in just five countries: Iran, Afghanistan, Pakistan, India and Russia, Nearly nine-tenths of the world's poppy cultivation takes place in Afghanistan, though significant amounts come from Mexico, Myanmar and Colombia. Afghan production has declined for each of the past two years.
CONSCRIPTION
If a young person refuses to undertake military conscription in Germany, they are obliged to spend nine months in community service instead. This may mean anything from delivering hot meals to pensioners or reading to elderly in old-age homes. Some 90,000 a year man hospitals, sports clubs and kindergartens across Germany. These people are not supposed to replace regular workers but they provide useful, and for some people, vital extra services. However, the government has decided to shorten basic military service and may eliminate it altogether. This could have a significant effect on the number of young people available to help many German charities.
WORTH
The Economist reports that in 2009, the world was home to 10-million people who had at least US$1-million to invest. Between them, such people had a total of $39-trillion in investible assets. America is home to 2.9-million very wealthy people, over a quarter of the world's total. Although it had only 127,000 high-net-worth individuals in 2009, India saw the number of such people grow by 50 per cent last year alone. Among the countries studied, the chances of running into a very wealthy person are highest in Switzerland, where 30 out of 1,000 people make the cut.
WASTE
A new study indicates that Americans are wasting billions by tossing food mistakenly believed to be spoiled. 76 per cent of U.S consumers studied, believe certain foods are unsafe to eat after the date printed on the packaging has passed. The dates on food packages are very conservative and food scientists agree that most foods, if stored properly, can be safely consumed for days, or even weeks, past the package date. If just 61 per cent of Americans needlessly discard just a quarter gallon of milk each month, they would be wasting US$700-million each year.
CYCLING
Mexico City has now installed 1,200 "pay-as-you-go" rental bikes at 85 docking stations. Since February, 7,000 people have signed up and taken more than 200,000 trips. This adds to a global trend of municipally endorsed cycling, a low-tech scheme started in the French town of La Rochelle in 1974. Copenhagen launched its first big automated project in 1995. German cities, including Berlin, have versions paid for by mobile phones. But Paris is the most successful with 20,000 bikes available for users with swipe cards. And London introduced a 6,000 bike programme at 400 docking stations last July.
INCOME
The State Senate of California has endorsed a feasibility study to have the Department of Motor Vehicles experiment with electronic, wirelessly connected digital licence plates that could display advertisements whenever a car comes to a halt at a stop sign or a red light. With a deficit of US$19-billion, the state could certainly use the income.
CHRISTMAS
Selfridges in Oxford Street, London started its Christmas sales on August 2nd of this year, 145 days before the holiday. The store says that previous sales had shown that some customers, especially overseas tourists, start thinking about Christmas during August.
CHAMPAGNE
Divers have found 30 bottles of champagne thought to pre-date the French Revolution on the Baltic seabed. When one was opened, they found the wine, believed to have been made by Clicquot (now Verve Clicquot) between 1782 and 1788, to be in good condition. If confirmed, this will be the oldest drinkable champagne in the world. Wine experts estimate that each bottle would fetch around US$69,000 at auction.
CLAIMS
About one Italian car in 12 is involved in a claim each year, compared with one in 23 in France which has a similar number of people and cars. The result is sky-high premiums with Italians paying well over twice as much for their annual car insurance as French drivers. Premiums increased by 18 per cent in Italy between 2002 and 2009, against an average of 7 per cent in the rest of Europe. Fraud plays a large part in this. It is estimated that in the Provinces of Naples and Caserta the fraud rate is at least 12 per cent of claims. One in six cars in Naples was apparently involved in an accident last year.
RULES
British shoppers are to be banned from buying eggs by the dozen under new regulations approved by the European Parliament. For the first time, eggs and other products such as oranges and bread rolls will be sold by weight instead of by the number in the packet. Until now, Britain has been exempt from EU regulations that forbid selling goods by number. The move could cost millions of pounds because of changes that will have to be made to packaging and labelling. Costs that will likely be passed on to the consumer. Eggs used to be sold from trays but between the two world wars it was discovered that eggs kept longer if they were left standing on their ends, so the cartons of 12 and six were developed.
ONLINE
Nearly two million Britains have come online during the last year, over half of which are over 50 years of age. The net audience now stands at 38.8-million. Over-50s account for 31 per cent of the UK net audience The older generation are attracted to a range of sites, including travel, genealogy, fashion, video and community sites.
TRADE
Canada and the European Union will meet their target to sign an ambitious free trade agreement in 2011. Canada has been trying for years to sign a free trade deal with Europe. The European Union is Canada's second-largest export market, behind the U.S. In 2009, Canadian exports to the EU totalled C$29.8-billion. Canada expects trade to rise by 20 per cent in the five years after the deal is enforced.
PROPERTY
Canadians bought more U.S. properties than the citizens of any other country in the past year. Canadians bought 23 per cent of all homes sold to foreigners to March of 2010. Mexicans came in second at 10 per cent, the U.K. 9 per cent, China 8 per cent and Germany 7 per cent rounded out the top five countries. There were US$907-billion of sales in the time period studied and foreigners are estimated to have spent $41-billion meaning that Canadians spent about $9.5-billion on U.S. real estate.
CHILDREN
More American women are choosing not to have children than three decades ago. Nearly 20 per cent of older women do not have children, compared to 10 per cent in the 1970s. One in five white women between 40-44 were childless in 2008, compared with 17 per cent of black and Hispanic women and 16 per cent of Asian women. The survey found that 41 per cent of adults said that children are very important for a good marriage, down from 65 per cent in 1990.
LIVESTOCK
The genetic diversity of Africa's indigenous livestock needs to be tapped before it is lost forever according to experts. Native breeds have adapted to tolerate parasites or produce robust milk yields in harsh conditions. Indigenous breeds are dying out as farmers switched to cattle from developed nations.
ENDORSEMENTS
Inmates at eight prisons in Alberta and Saskatchewan recently voted on which treats to stock in their prison snack bars. They voted for Old Dutch, giving the potato chip maker exclusive rights to supply all snack foods to the canteens where prisoners spend their hard earned cash. The one-year contract is worth about C$400,000 and can be renewed for another two years.
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