U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month.

Economists said Friday’s report from the Commerce Department should allay fears of the economy overheating and likely keeps the U.S. central bank on a gradual path of interest rate increases. The Fed raised rates Wednesday for the third time this year and removed the reference to monetary policy remaining “accommodative.”

“Growth is solid and inflation pressures modest,” said Chris Rupkey, chief economist at MUFG in New York. “This is exactly the environment the Fed needs to move interest rates up at a gradual pace as further rate hikes start to look like tightening.”

Consumer spending

The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.3 percent last month after an unrevised 0.4 percent gain in July. Spending last month was driven by outlays on health care, which offset a drop in motor vehicle purchases.

August’s increase in consumer spending was in line with economists’ expectations. When adjusted for inflation, consumer spending rose 0.2 percent after climbing 0.3 percent in July.

The report came on the heels of data Thursday showing a decline in orders for key capital goods in August and a further widening of the goods trade deficit, which prompted economists to downgrade their gross domestic product growth estimates for the third quarter to as low as a 2.8 percent annualized rate.

Third-quarter GDP growth forecasts were previously as high as a 4.4 percent pace.

Economic growth

The economy grew at a 4.2 percent rate in the second quarter, powered by robust consumer spending. Economists said data in hand suggested that consumer spending was on track to grow around 3.6 percent in the third quarter, close to the 3.8 percent pace set in the April-June period.

Consumer spending is being driven by a tightening labor market, which is starting to boost wage growth, as well as higher savings. It is also being supported by robust consumer confidence.

A separate report Friday showed the University of Michigan’s consumer sentiment index at a six-month high in September. A survey earlier this week from the Conference Board showed consumer confidence hitting an 18-year high in September.

The Conference Board places more weight on the labor market.

The dollar was trading higher against a basket of currencies, while U.S. Treasury yields fell. Stocks on Wall Street were little changed in late afternoon trade.

Eyes on tariffs

In August, spending on goods increased 0.3 percent, likely lifted by higher gasoline prices. Spending on goods rose 0.5 percent in July. Outlays on services advanced 0.4 percent, with spending on health care accounting for much of the increase.

There was a moderation in monthly price gains in August. The personal consumption expenditures (PCE) price index excluding the volatile food and energy components was unchanged. That was the weakest reading since March 2017 and followed a 0.2 percent gain in July.

August’s flat reading left the year-on-year increase in the so-called core PCE price index at 2.0 percent. The core PCE index is the Fed’s preferred inflation measure. It hit the U.S. central bank’s 2 percent inflation target in March for the first time since April 2012.

Economists say inflation could slightly overshoot its target amid concerns an escalating trade war between the United States and China could lead to price increase for a range of consumer goods.

Washington on Monday slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60 billion worth of U.S. products. The United States and China had already imposed tariffs on $50 billion worth of each other’s goods.

Walmart Inc, the largest U.S. retailer, said last week it might hike prices because of the duties on Chinese imports.

“With this $200 billion increase, you are effectively tripling the amount of goods subject to a tariff and that has potential to influence prices,” said Tim Quinlan, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

JPMorgan estimates that the tariffs could add 0.2 to 0.3 percentage point to core inflation.

In August, personal income rose 0.3 percent after increasing by the same margin in July. Wages jumped 0.5 percent, the biggest gain in seven months, after rising 0.3 percent in July.

The saving rate was unchanged at 6.6 percent last month.
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From: MeNeedIt

Google Chief Executive Sundar Pichai has agreed to testify before the U.S. House Judiciary Committee later this year over Republican concerns that the company is biased against conservatives, a senior Republican said Friday.

Republicans want to question Google, the search engine of Alphabet Inc, about whether its search algorithms are influenced by human bias. They also want to probe it on issues such as privacy, classification of news and opinion, and dealing with countries with human rights violations.

Pichai met with senior Republicans on Friday to discuss their concerns, House Majority Leader Kevin McCarthy said.

McCarthy told reporters after the meeting that it was “very productive” and “frank.”

“I think we’ve really shown that there is bias, which is human nature, but you have to have transparency and fairness,” McCarthy said. “As big tech’s business grows, we have not had enough transparency and that has led to an erosion of trust and, perhaps worse, harm to consumers.”

Alphabet Inc’s Google unit has repeatedly denied accusations of bias against conservatives. Pichai left the meeting without comment.

Pichai wrote in an internal email last week that suggestions that Google would interfere in search results for political reasons were “absolutely false. We do not bias our products to favor any political agenda.”

The CEO had been scheduled to be in Asia this week but canceled the trip to be in Washington.

The hearing will take place after the midterm congressional elections in November, McCarthy said.

Google came under fire from members of both parties earlier this month for refusing to send a top executive to a Senate Intelligence Committee hearing that included Facebook Inc and Twitter Inc executives.

Republicans have also raised concerns about Google’s dominance. Earlier this week, the Justice Department met with state attorneys general to focus on the need to protect consumer privacy when big technology companies amass vast troves of data, but came to no immediate conclusions.

Asked if Republicans will push to break up Google, McCarthy said: “I don’t see that.” He said the hearing will look at privacy, bias issues, China and other matters.

Pichai is also meeting with Democratic lawmakers and is due to meet with White House economic adviser Larry Kudlow on Friday, a White House official said Thursday.
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From: MeNeedIt

Seven in 10 people worldwide die from cardiovascular diseases, cancer, diabetes and chronic lung diseases, according to a study published in The Lancet earlier this month.

These diseases not only rob people prematurely of their lives, they cost enormous amounts of money. The Lancet report estimated that over the next 15 years, the costs to developing countries alone is projected to total more than $7 trillion.

Three years ago, world leaders pledged to reduce premature deaths from these non-communicable diseases by one-third by the year 2030.

At Thursday’s U.N. General Assembly meeting in New York, WHO Director-General Tedros Adhanom Ghebreyesus said less than half of the world’s countries will meet that target, urging world leaders to recommit to these goals.

Tedros called for more political commitment and domestic investment. He said he knew from his own experience that “with political commitment, anything is possible. Without it, progress is slow.”

Tedros mentioned a list of what he called “best buys,” policy changes that cost little but produce huge rewards. “WHO’s best buys are cost-effective and affordable for all countries. Spending to build a healthier population is not a cost. It’s an investment in human capital that pays a rich reward.”

Tedros urged countries to increase tobacco taxes, restrict advertising for alcohol, and lower the amount of salt, sugar and fat in food products. Doing this will lower the risks for diabetes, cancer, heart disease and stroke. He advised countries to vaccinate girls against cervical cancer.   

Tedros also recommended that countries provide universal health coverage as the best way to prevent and treat non-communicable diseases.

He said if these policies were implemented globally, they would save 10 million lives by 2025 and prevent 17 million strokes and heart attacks by 2030. And, again, focusing on economic benefits, Tedros said implementing “best buys” would generate $350 billion in economic growth in the poorest countries between now and 2030.

 
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From: MeNeedIt

A rise in violence in the eastern Democratic Republic of Congo is displacing more people and hampering humanitarian efforts, including operations to stop the spread of Ebola, the United Nations refugee agency warns.

More than 20 people have been killed in recent attacks in the Beni area of Congo’s North Kivu province and farther north in Ituri province, both near the border with Uganda. 

The UNHCR estimates more than a million people are displaced in North Kivu. And, it notes, more people are fleeing their homes in the face of increasing attacks. 

The main rebel groups — the Allied Democratic Forces and National Army for the Liberation of Uganda — have been active in the Beni area for some time. However, UNHCR spokesman Babar Baloch tells VOA fighting has reached the city itself for the first time, making it risky for staff to move around.

“Many humanitarians have had to stop their activities. But, UNHCR, we are trying to send colleagues into Beni town as soon as we can to provide humanitarian assistance to those who have been affected by the recent rounds of violence,” Baloch said.

Beni is the epicenter of an Ebola outbreak in eastern DRC, and is the base for anti-Ebola operations by the World Health Organization. These operations were shut down temporarily following recent rebel attacks. 

WHO reports 154 confirmed and probable cases of Ebola in the area, including 101 deaths. The agency resumed its activities in Beni on Wednesday, despite security concerns. 

WHO officials say they cannot afford to halt operations and allow the deadly Ebola virus to spread. 
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From: MeNeedIt

Facebook has always been a convenient way to send birthday wishes to friends. But many users have started taking advantage of a new feature introduced a year ago by the popular social networking site to turn birthday wishes into donations to help a favorite cause. And it’s turned into a huge success for charities. In its first year, Facebook’s birthday fundraiser feature raised more than $300 million for charities around the world. Michelle Quinn has more.
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From: MeNeedIt

Tuberculosis is a vicious epidemic that is drastically underfunded. That was the takeaway message from the first high-level meeting focused on the infectious disease at the U.N. General Assembly in New York.

Amina Mohammad, U.N. deputy secretary-general, said the disease is fueled by poverty, inequality, migration and conflict, and that an additional $13 billion per year is needed to get the disease under control.  

Last year, tuberculosis killed more people than any other communicable disease — more than 1.3 million men, women and children.

The World Health Organization estimates that the 10 million people who become newly infected each year live mostly in poor countries with limited access to health care.

Dr. Tedros Adhanom Ghebreyesus, head of the WHO, told the assembly that partnership is vital to end the disease. He said the WHO is committed to working with every country, partner and community to get the job done.

The WHO plans to lead U.N. efforts to support governments and other partners in order to drive a faster response to TB.

Most people can be cured with a six-month treatment program. But as world leaders told the assembly, medication is expensive, and the stigma associated with TB interferes with getting people screened and treated.

Nandita Venkatesan, a young woman from India, told the assembly about the toll the disease has taken on her life. She got TB more than once, including a drug-resistant variety. She said it robbed her of eight years of her life while she was being treated. One of the medications she took to help cure TB robbed her of her hearing.

Venkatesan said getting cured involved hospital stays, six surgeries and negative reactions to at least one drug used to cure her.

Just days before the high-level meeting, the WHO released its annual TB report. It found cases in all countries and among all age groups. It also found that two-thirds of the cases were in eight countries — India, Pakistan, Bangladesh, China, Indonesia, the Philippines, South Africa and Nigeria.

The meeting ended with the adoption of a declaration intended to strengthen action and investments for ending TB and saving millions of lives.
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From: MeNeedIt

Earlier this year, two artists in Leesburg, Virginia, founded an art space where they could work and teach other art lovers as well. Part retail business, part studio, Clay and Metal Loft helps aspiring local artists gain the skills and confidence needed to start their own business. But, as Faiza Elmasry tells us, the founders have a bigger dream, they want their space to energize the community. Faith Lapidus narrates.
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From: MeNeedIt

A new report warns that wetlands are disappearing three times faster than the world’s forests, with serious consequences for all life on earth. 

The Ramsar Convention on Wetlands is a global treaty ratified in 1971 by 170 countries to protect wetlands, which are ecosystems inundated by water, such as swamps, bogs and floodplains. 

Unfortunately, the goal of this treaty is under threat. Ramsar Convention officials report about 35 percent of the world’s wetlands have been lost between 1970 and 2015.

State of crisis

Unless this situation is urgently reversed, Ramsar Convention Secretary-General Martha Roja Urrego warns the world will be in a state of crisis because wetlands are critical for all aspects of life.

“All the water that we use for consumption, irrigation and for hydro-electricity comes directly or indirectly from wetlands,” Urrego said. “Secondly, wetlands also have a main function in filtering waste and pollutants, so they act as the kidneys of the world. They filter the waste.”

Urrego says wetlands also are essential in regulating the global climate as peatlands store twice as much carbon as the world’s forests. 

Several factors

The report finds wetland loss is driven mainly by such factors as climate change, population increase, changing consumption patterns and urbanization, particularly in coastal zones and river deltas.

Authors of the report say biodiversity also is in a state of crisis. They say more than 25 percent of all wetlands plants and animals are at risk of extinction.

Scientists say without biodiversity, there is no future for humanity, because the air people breathe, the water they drink and the food they eat ultimately rely on biodiversity in its many forms.
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From: MeNeedIt

An observatory in Barrow, Alaska, the most northerly astronomical outpost in the U.S., has become a key scientific instrument in studying climate change. Established in 1973, the Barrow Observatory is staffed year-round by two researchers who measure and track changes in air quality and weather, while also acclimating with local traditions. Natasha Mozgovaya traveled to Barrow, now officially called Utqiagvik, its Inupiaq name, to see what life is like in one of the coldest places in the world.
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From: MeNeedIt

The United States and Japan have agreed to begin negotiations on a bilateral free-trade agreement, reducing the prospect that Washington might impose tariffs against another trading partner.

“We’ve agreed today to start trade negotiations between the United States and Japan,” U.S. President Donald Trump said at a summit with Japanese Prime Minister Shinzo Abe in New York on the sidelines of the U.N. General Assembly.

“This was something that for various reasons over the years Japan was unwilling to do and now they are willing to do. So we’re very happy about that, and I’m sure that we will come to a satisfactory conclusion, and if we don’t, ohhhhhh,” Trump added.

Fast-track authority

The White House released a statement after the meeting, stating the two countries would enter into talks after completing necessary domestic procedures for a bilateral trade agreement on goods and other key areas, including services.

U.S. Trade Representative Robert Lighthizer called it a “very important step” in expanding U.S.-Japan relations. He told reporters that the U.S. and Japan were aiming to approve a full free-trade agreement soon. Lighthizer said he would talk to Congress on Thursday about seeking authority for the president to negotiate the agreement, under the “fast track” trade authority law.

Lighthizer said he expected the negotiations to include the goal of reaching an “early harvest” on reducing tariffs and other trade barriers.

Tokyo’s reticence

Tokyo had been reluctant to commit to a bilateral free-trade pact and had hoped that Washington would consider returning to the Trans-Pacific Partnership, a broader regional trade agreement championed by the Obama administration that Trump pulled out of in January 2017.

Trump has complained about Japan’s $69 billion trade surplus with the U.S. and has been pressuring Abe to agree to a two-way agreement to address it, including during Abe’s visit to Trump’s Florida resort, Mar-a-Lago, in April.

Japanese officials have expressed concern Trump might pressure Tokyo to open up its politically sensitive farm market. They also are wary Trump might demand a reduction in Japanese auto imports or impose high tariffs on autos and auto parts, which would be detrimental to Japan’s export-reliant economy.

Trump is expressing confidence the two sides will reach an agreement.

“We’re going to have a really great relationship, better than ever before on trade,” he said. “It can only be better for the United States because it couldn’t get any worse because of what’s happened over the years.”
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From: MeNeedIt

The Trojan Horse allowed the ancient Greek army to enter the city of Troy and defeat it. A similar strategy could help doctors destroy superbugs that are resistant to current antibiotics.

The decreasing effectiveness of antibiotics is among the most critical challenges facing medicine today, as drug-resistant bacteria resist almost every therapy thrown at them. But researchers at the University of Washington School of Medicine wondered if superbugs could be tricked into taking in a molecule that looks like food but wreaks havoc once inside.

Microbiology professor Pradeep Singh said they focused on iron, which is a critical nutrient for bacteria to multiply and spread. He told VOA that natural binders in the body take up iron, which is also important for our health, and try to keep it from bacteria. But the invaders have mechanisms to get to the bound iron.

“So, we were thinking about an alternative way that didn’t involve iron binding,” he explained. “How could we exploit the really high requirement for iron for infecting bacteria? And that’s how we came up with the idea of using a chemical mimic to exploit the bacteria’s own uptake system to get an antimicrobial drug inside.”

An iron Trojan Horse

The mimic they chose was gallium, a metal similar to iron. And like many successful antibiotics, Singh notes that gallium targets a number of vital functions in the bacteria.

“We know that one of the things it does is it inhibits an enzyme that is involved in producing copies of bacterial cell DNA — that’s really important for making daughter cells. If you can’t replicate your DNA, you can’t multiply. We’ve also shown that gallium can inhibit an enzyme that protects (bacteria) from oxidative stress like hydrogen peroxide. It probably does a bunch of other things, too, so it kind of just causes this kind of haywire in the cell for a bunch of those biological functions of iron.”

In lab studies, bacteria developed resistance to gallium at low rates, and its potency was increased when it was administered with some existing antibiotics. These factors led Singh and his colleague Chris Goss, a professor of medicine and pediatrics, to do preliminary tests of gallium in mice and humans, with exciting results detailed in the current issue of Science Translational Medicine.

A promising strategy against bad bacteria

In mice, they found that a single dose of gallum cured lethal lung infections.

The human trial — involving 20 patients with the lung disease cystic fibrosis — provided some tantalizing findings. Goss told VOA the gallium was given by infusion over five days. And while it rapidly cleared from the blood, it moved to the lungs, positively impacting patients’ breathing for up to a month.

“The key measure in cystic fibrosis and many lung diseases is forced expiratory volume, which is, you blow in a tube, and we see how much you can blow. And what we found is actually (forced expiratory volume) increased significantly from baseline in the realm of what we would normally see in an antibiotic-treated population. So, a similar effect as giving inhaled antibiotics or some oral antibiotics. And that was what I think made this an unusual finding, that the proof seemed to be there that you can give this drug intravenously, and it would actually impact lung function.”

More research is needed to confirm gallium’s safety and effectiveness as a treatment, but preliminary results suggest that the strategy that ended the Trojan War might be a winning approach to today’s battle against superbugs.
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From: MeNeedIt

When Irishman Michael Kelly was a boy, he loved nothing more than gazing at planes taking off and landing at his nearest airport.

Now 67, after more than half a century building what he believes is the world’s largest private collection of model aircraft, he has donated the lot to Shannon Airport, where his lifelong passion for aviation began.

“I always used to love the noise of the aircraft going over my house in Limerick city and I was very curious,” Kelly said after cutting the ribbon on the airport’s new aviation gallery which now houses his collection in rows of display cases.

“When I made my first holy communion I asked my mum and dad to take me to Shannon airport. So I got to see the beautiful aircraft and from that day on I was hooked.”

While he would have loved the opportunity to have become a pilot, sourcing rare model aircraft still took the Limerick man around the world. None of his 2,300 planes were produced in Ireland.

A friend said Kelly has spent 10,000 euros ($12,000) a year amassing the record haul.

The collector’s favorite? A Boeing KC Tanker, one of only 10 made around the world.

Living alone in his renovated farmhouse, Kelly said there were exhibitors on the other side of the world “that would do anything” to have the collection. Instead, he donated it closer to home.

“I think it’s testament to the work he’s done over the last 60 years and we are delighted that he has entrusted us to look after it for the next 100-years plus,” said Niall Maloney, operations director at Shannon Airport.

($1 = 0.8499 euros)
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From: MeNeedIt