Apple executive Steve Jobs resigns

Thursday, August 25, 2011

Steve Jobs, founder of Apple, has chosen to step down from his post as CEO of the company. The former Chief Operating Officer, Tim Cook will be succeeding Jobs as CEO. Jobs resigned in a letter to Apple’s board of directors stating, “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s C.E.O., I would be the first to let you know. Unfortunately, that day has come.” In that same letter, Jobs stated that his desire was to remain as chairman of the board.

Steve Jobs has been fighting pancreatic cancer since 2004 and has been on medical leave since January of this year. This was Jobs’ third period of medical leave. He briefly made an appearance in March and June to unveil the iPad 2 and the iCloud, an online cloud computing service. In part of his resignation, Jobs left this farewell, “I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.”

Tim Cook was personally recommended by Jobs to take over as CEO and has been serving as interim CEO since the beginning of Jobs’ medical leave. Before his post at Apple, Cook held positions at IBM and Compaq. He is known for staying out of the spotlight. Due to an operational overhaul by Cook, he is credited with the success of the iPad and MacBook Air. He also stood in Steve Jobs’ place while the CEO underwent liver transplant surgery. He received $59 million for his performance in the position.

Analyst Charles Golvin predicts that the resignation will not begin to affect Apple performance for 1.5 to 2 years. Many of the new products are already under development and Jobs will continue to steer the company from his position as chairman of the board. Art Levinson, chairman of Genentech and a member of the board, adds, “Steve will continue to serve Apple with his unique insights, creativity and inspiration”. A contrary view is offered by Charles O’Reilly, a management expert at Stanford University, who stated, “Great companies rarely go from strength to strength”. Richard Doherty attributes Steve Jobs’ success as the ability to hold off on a product until it is perfect. He states “A lot of products could have gotten to market earlier, but he wanted it better.”

In light of the revelation, Apple shares (AAPL) slid $19.37 in after hours trading—a drop of over 5%. Since market open, Apple shares rose to $373.72, a drop of only $2.46 since Wednesday’s close.

Friday, December 23, 2005

New South Wales Police have begun their holiday Operation Safe Arrival holiday road safety campaign overnight. The campaign runs from 12:01AM December 23, 2005 until 11:59PM January 2, 2006.

In an attempt to keep the number of deaths on NSW roads at a minimum police will target speeding, seatbelt, helmet and drunk driving offences. According to the New South Wales Roads and Traffic Authority, 495 people have died on NSW roads between January 1 and December 11. This figure will surely climb over the holiday period.

The RTA has also begun double demerit points for speeding, seatbelt and helmet offences. The double demerit points will run for the same 11 day period as Operation Safe Arrival. The minimum penalty for any double demerit offence is 6 points. Provisional drivers need to be particularly mindful of these as P1 license holders (those who have had a license 12 months or less) can only incur 3 points. P2 license holders (those who have held a license for 12 to 36 months) have 6 and unrestricted license holders have 12.

According to the RTA, 23,624 drivers in the 2003/4 holiday season were issued with fines carrying double demerits and 2,150 motorists had their licenses suspended due to speeding or exceeding their demerit point limit.

The RTA introduced double demerits in 1997 in an attempt to force drivers to be more mindful of speeding, wearing seatbelts and motorcycle helmets. Double demerit points are now introduced over each major holiday period when a large proportion of road-related deaths occur.

Other jurisdictions in Australia which have double demerit points over holiday periods are South Australia, Western Australia, and the Australian Capital Territory.

Thursday, March 5, 2009

US stock markets dropped to twelve-year lows on Thursday, amidst falling confidence in the financial sector and worries over whether the US automobile manufacturer General Motors will be able to keep operating.

The Dow Jones Industrial Average dropped by 4.08%, or 280.52 points, at the closing bell, reaching a level of 6595.32, a new 12-year low. The Nasdaq Composite lost 54.15 points, or 4%, to 1299.59, while the Standard & Poor’s 500 plunged by 30.27 points, or 4.25%, closing at 682.60.

Every stock in the Dow Jones, other than Wal-Mart, either lost ground or remained even, and all stocks in the S&P 500 index lost ground.

General Motors’ shares lost 15.5% after the auto firm announced that its auditors had “substantial doubt” over whether it would be able to keep operating.

Shares of financial companies were lower by nine percent, with Bank of America losing 11.7% and Citigroup falling by 9.7%.

“What’s most worrisome is that we haven’t hit the crescendo yet,” said Bill Groeneveld, the head trader for vFinance Investments. “Asset-management divisions are getting calls to just liquidate everything, and we haven’t seen the big players come back in at all.”

“This is one of the worst bear markets in the last 100 years; it started out with the credit crisis and the subprime [loans], but it is like a forest fire that has raced across the clearing and ignited other parts: Autos, auto parts, the insurance companies have been hit very hard. The credit crisis is causing an unraveling of industry after industry because the banks don’t lend,” said David Dreman, the chief investment officer of Dreman Value Management.

European markets were also lower today, with the London’s FTSE index losing 3.2% and the DAX index of Germany falling by five percent.

The time is 20:00 (UTC) on June 30th, 2006, and this is Audio Wikinews News Briefs.

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Tuesday, September 16, 2008

The International Monetary Fund and the European Union approved aid packages to help Georgia recover from its conflict with Russia, which occurred in early August. The IMF approved a US$750 million loan which will allow Georgia to rebuild its currency reserves. The European Union also approved an aid package of €500 million in aid by 2010, which is expected to help internally displaced people (IDPs) and economic recovery in the form of new infrastructure. Only €100 million of the EU aid will be given to Georgia this year.

These loans are aimed to restore confidence in Georgia’s economy and send a signal to international investors that Georgia’s economy is sound. According to the IMF, international investors have been “critical to Georgia’s economic growth in recent years.”

Takatoshi Kato, Deputy Managing Director and Acting Chairman of the IMF executive committee, said the loan will “make significant resources available to replenish international reserves and bolster investor confidence, with the aim of sustaining private capital inflows that have been critical to Georgia’s economic growth in recent years.”

Georgia has requested $2 billion in international aid to help it recover from the conflict. So far, the United States has pledged $1 billion in aid. Further assistance and loans to Georgia are expected from other organizations. Kato noted that “…Georgia is expected to receive financial assistance from multilateral and bilateral donors and creditors in support of the reconstruction effort.” It is expected that an international donors’ conference will take place next month to solicit more aid for the country.

Georgia’s government expects that economic growth will be more than cut in half as a result of the conflict. Last year, Georgia’s GDP increased 12.4% and it is predicted by the IMF that growth will be less than 4 percent in the coming year.

Sunday, July 11, 2010

The Church of England’s ruling body, the General Synod, yesterday rejected a compromise deal on the divisive issue of women bishops. An amendment to satisfy traditionalists was jointly proposed by its two most senior clerics, the Archbishop of Canterbury, Dr Rowan Williams, and the Archbishop of York, Dr John Sentamu. Despite getting a majority of support across the Synod as a whole, it was rejected after narrowly being defeated in the vote of the House of Clergy.

The amendment would have allowed male “complementary bishops” to cater to parishes, which objected to having a female bishop in their diocese. The bishops would supposedly have “co-ordinate” powers, but some campaigners supporting women bishops said the plans would result in an unfair “two-track” system.

“I do not believe this will deliver, and it is certainly not good news for women clergy,” said Christine Allsopp, Archdeacon of Northampton, of the proposed amendment.

Many traditionalists have strongly opposed the ordination of female bishops, and threatened to leave the Church over the issue. The situation has been worsened by offers from Pope Benedict for disaffected Anglicans to join the Roman Catholic Church instead.

Earlier Dr Sentamu had claimed that Dr Williams was facing “spin and propaganda”, and called for it to end. Dr Williams insisted that the vote should not be considered a test of the Synod’s “loyalty” to the two Archbishops, but the rejection is widely seen as a blow to their authority.

The Synod is due to continue its debate on women bishops over the next few days.

Monday, August 26, 2013

German non-profit organization Definetz announced on Friday the development of the ‘Defikopter’: a medical drone, launched by smartphone app, designed to be able to fly defibrillators to heart attack victims in remote areas quicker than an ambulance.

The Defikopter is to be launched by an app that sends out the GPS coordinates of the victim. With the ability to fly at 70km per hour in all weather conditions, the eight-armed octocopter could reach any patient within a ten kilometre radius.

The invention has received cautious praise from German medical services; the drone is still in the development and testing stage. Definetz and collaborating drone builder Height Tech have not issued any information about the release of the smartphone app or about when the drone will be available for medical services to purchase.

“We’ll have to see how much these drones can help,” German emergency services union representative Marco König told The Local. German news site Mittelbayerische reports a price tag of €20,000 (US$26,000) apiece.

One major problem Definetz faces is the law that requires all unmanned flying vehicles in Germany to be supervised. Another is that only members of the public who downloaded the app ‘just in case’ of an emergency, plus emergency workers with the app, could summon a drone.

Wednesday, November 8, 2006

Polish Prime Minister Jaros?aw Kaczy?ski has ordered the pharmaceutical company Jelfa to halt production following revelations that Jelfa had placed mislabelled medication on the market, whose use could be potentially fatal.

Jelfa distributed vials labelled as Corhydron, a hydrocortisone used to treat allergies and inflammation, but in fact containing Suxamethonium chloride, a drug normally used to cause muscle paralysis during emergency surgery.

The Health Ministry has appealed to people suffering from asthma or allergies to check their medication and return any Corhydron ampoules they possess to the pharmacy.

Polskie Radio reports that the mislabelling was discovered a month ago, but Jelfa and the Polish Health ministry did not inform of the problem.

Prime Minister Jaroslaw Kaczynski ordered Jelfa to halt production until it can assure the Polish Government that it can properly manage its production.

The Polish Outlook reports that that drug companies in Poland were operating unregulated since December, 2005 as the regulations has expired. The government was putting in place new regulations.

The owner of Jelfa is AB Sanitas, the largest drug producer in neighbouring Lithuania. The shut-down has been questioned by the Lithuanian Prime Minister Gediminas Kirkilas, who expressed concern over the situation and said that he wants to try to settle the issue diplomatically.