Showing posts with label global. Show all posts
Showing posts with label global. Show all posts

Monday, 20 June 2011

UN atom chief urges nuclear stress tests, inspections





















The UN nuclear chief called on Monday for national safety tests on all the world's reactors within 18 months, followed by international inspections to help prevent any repeat of Japan's atomic crisis three months ago.

Yukiya Amano, opening a ministerial meeting in Vienna on strengthening safety standards after the Fukushima emergency, said UN experts should be allowed to carry out random safety reviews of nuclear power plants.

His proposals -- aimed at ensuring that nuclear plants can withstand extreme events such as the earthquake and tsunami that crippled Fukushima -- may prove controversial for states which want to keep safety an issue strictly for national authorities.

"Public confidence in the safety of nuclear power has been badly shaken," Amano, director general of the International Atomic Energy (IAEA), said in a speech to ministers and regulators from the UN body's 151 member states.

"However, nuclear power will remain important for many countries, so it is imperative that the most stringent safety measures are implemented everywhere."

Amano, a veteran Japanese diplomat, said nuclear safety would remain a national responsibility -- and that governments would have the main task of testing, if only in theory, whether reactor systems could withstand various stresses. But he also made clear he wanted the U.N. agency to play a greater role.

"IAEA review of every one of the world's 440 operating nuclear reactors in just a few years is not a realistic proposition. I therefore propose a system based on random selection," he said.

Japan's crisis has prompted a rethink of energy policy around the world, underlined by Germany's decision to shut down all its reactors by 2022 and an Italian vote to ban nuclear power for decades.

At the June 20-24 meeting, IAEA member nations will begin charting a strategy on boosting global nuclear safety, but differences on how much international action is needed may hamper follow-up efforts, diplomats say.

Russia wants to move towards making the UN agency's safety standards compulsory, but many other countries oppose this.

EXTREME NATURAL HAZARDS

Currently there are no mandatory, international nuclear safety regulations, only IAEA recommendations which national regulators are in charge of enforcing.

Russia's atomic energy chief Sergei Kiriyenko welcomed Amano's proposals, telling the conference that "we are delighted that they are very much in keeping" with Moscow's views.

Japanese officials have come under fire for their handling of the emergency and the authorities have admitted that lax standards and poor oversight contributed to the accident.

Three reactors at the Japanese complex went into meltdown when power and cooling functions failed, causing radiation leakage and forcing the evacuation of some 80,000 people.

"In the light of the Fukushima Daiichi accident, thorough and transparent national risk assessments should be made of all nuclear power plants in the world.

"They should focus on safety margins against extreme natural hazards, such as earthquakes, tsunamis and floods. This could be done within 12 to 18 months."

He gave no details of how such assessments would be carried out. Typically experts speak of "stress tests" which provide for theoretical and practical simulations of how power plant systems would respond to various "stress" events, such as earthquakes.

Amano said these national assessments should be followed by IAEA expert reviews to check operational safety emergency preparedness, and the effectiveness of regulatory systems.

"I propose that countries with nuclear power should agree to systematic, periodic peer reviews by the IAEA," he said.

"The agency could conduct an international safety review of one nuclear power plant in 10 throughout the world over, say, a three-year period."

Friday, 10 June 2011

Americans rated most hilarious in global poll

 The Germans have been voted the world's `least funny nationality' in a global poll, which names Americans the funniest overall and the Spanish the most amusing Europeans, ahead of the Italians and French.

The social network and dating website Badoo.com asked 30,000 people across 15 countries to name both the "funniest," or best at making people laugh," and "the least funny" nationality.

Americans took the funniest prize, followed by the Spanish in second and Italians in third.

The voting for "least funny" nationality confirmed the view of American novelist Mark Twain that "a German joke is no laughing matter."

The Germans won comfortably, ahead of the Russians and Turks.

Yet, the British -- whose "The Office" and Monty Python shows have become pillars of English-language humor -- learn from the Badoo poll that they are not as funny as they think. They placed just seventh out of 15 -- behind the Brazilians, French and Mexicans.

But they ranked higher when Badoo asked the opposite question: Which nationality do you find the least funny? Here, the British ranked fourth, just after the Turks.

"I'm afraid that we don't find some of the results very funny," said Badoo's Director of Marketing Lloyd Price, who is British.

The Americans topped the poll, as the folks who brought us TV sitcoms like Friends, The Simpsons, Frasier, Seinfeld and any number of comic greats from the Marx Brothers to Woody Allen, Steve Martin, Larry David, Ben Stiller or now Tina Fey.

Tuesday, 7 June 2011

Australian Stock Market Report

 the us employment trends index fell from a downwardly-revised reading of 100.1 in April (previously 100.5) to 99.7 in May.

The broader measure of European shares fell for a fourth straight day on Monday on continued concerns about the health of the global economy. There was also an element of caution ahead of the European Central Bank meeting on Thursday. But mining shares rose with BHP Billiton up 0.9pct in London trade and Rio Tinto up 1.0pct. The FTSEurofirst index fell by 0.6pct but while the German Dax was down by 0.3pct, the UK FTSE gained 0.1pct.



US sharemarkets fell again on Monday. Investors continue to fret about the softening economy. And airline stocks fell after global industry body, IATA, halved its profit expectations for 2011. Shares in Delta Airlines lost 3pct. The Dow Jones fell by 61pts or 0.5pct with the S&P 500 down by 1.1pct and the Nasdaq lost 30pts or 1.1pct.

US treasury prices ended little-changed on Monday. There was no major economic data to provide guidance and traders were not keen to take positions ahead of auctions later in the week. Treasury will sell $32 billion of 3-year notes on Tuesday, $21 billion of 10-year notes on Wednesday and $13 billion of 30-year notes on Thursday. US 2yr yields were flat at 0.429pct and US 10yr yields rose 1pt to 3.00pct.

The US dollar clawed back some of its recent losses against major currencies in European and US trade on Monday. The Euro eased from highs near US$1.4655 to US$1.4560, before ending US trade near US$1.4670. The Aussie dollar eased from highs near US107.65c to near US106.90c before ending US trade near US107.05c. And the Japanese yen held between 79.95 yen per US dollar and JPY80.35, ending US trade near JPY80.15.

Crude oil prices fell on Monday in choppy trade on expectations that OPEC oil ministers will raise production quotas at their meeting on Wednesday. On-going instability in the Middle East and North Africa limited losses. The Nymex crude oil contract fell by US$1.21 or 1.2pct to US$99.01 a barrel after trading from US$98.64 to US$100.68 a barrel. And London Brent crude fell by US$1.36 to US$114.48 a barrel.

Base metal prices were mixed on the London Metal Exchange on Monday. The tin price fell 1.5pct and nickel lost 0.8pct but other metals rose 0.4-0.9pct except lead which gained 2.7pct. And the gold price also edged closer to record highs on Monday with Comex gold futures up by US$4.80 an ounce to US$1,547.20.

Ahead: In Australia, the Reserve Bank Board meets to decide interest rate settings. In the US, the Federal Reserve chief Ben Bernanke is expected to deliver a speech. Data on consumer credit and weekly chain store sales are also due.

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