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Tuesday, May 15, 2007

The first website in the world allowing consumers to buy life insurance online instantly has been launched today, targeting specifically New Zealanders.

The website, run by life insurance company Pinnacle Life, allows New Zealanders in many countries in the world to buy life insurance online without the need for a medical examination. Once the application has been approved, which is done immediately, the consumer can receive a $500,000 life insurance policy via an automatic e-mail. However, if certain conditions have been highlighted, then person to person contact is required to finalise the process.

Ed Saul, senior partner and architect of the new website, says, “We’re giving consumers a quicker and easier way to buy life insurance. Instead of submitting an application form and waiting days for a policy to be approved and issued, we do it online and we do it immediately.”

“The revolutionary website gives consumers complete control over the buying process whilst eliminating the previously obligatory involvement of people and paper. This is a global test case eagerly watched by the insurance industry around the world,” Mr Saul said.

When applying online, a few typical questions are asked on personal information and if the applicant has had any previous illnesses or diseases.

The countries where New Zealand citizens are allowed to apply are UK, Ireland, Canada, Australia, Hong Kong, Singapore and the USA.

Wednesday, April 1, 2009

The United States government has filed a civil lawsuit against BP Exploration (Alaska) Inc. (BPXA) alleging that the company “violated federal clean air and water laws” by “illegally discharging” more than 200,000 gallons crude oil during two oil spills in 2006 on Alaska’s North Slope in Prudhoe Bay.

BPXA previously pleaded guilty to one count of criminal negligence in illegally discharging the oil and paid US$20 million in damages. As a result of the plea, the lawsuit was filed saying that they “failed” to prepare for such a disaster by implementing “certain [sic] spill prevention measures” as the law requires.

The lawsuit, filed on behalf of the Environmental Protection Agency (EPA) and the [DOT]-Pipeline and Hazardous Materials Safety Administration (PHMSA), alleges that BPXA “illegally discharged more than 200,000 gallons of crude oil from its pipelines” and “violated the Clean Air Act by improperly removing asbestos-containing materials from its pipelines” It also says that they “failed to comply in a timely manner with a corrective action order that the [DOT]-Pipeline and PHMSA issued to BPXA pursuant to federal pipeline safety laws.”

According to the Associated Press (AP), BPXA spokespeople state that the company has taken certain measures, making sure daily operations are safe.

“We have taken significant steps to ensure that our operations are safe and reliable, and protect the environment. Those include building a new $500 million system of oil transit lines at Prudhoe Bay,” said spokesman Steve Rinehart to the AP.

The spills were discovered on March 2, 2006 and covered nearly two acres. It was initially estimated that nearly 270,000 gallons had spilled. The official loss was put at 212,252 gallons.

BPXA, a subsidiary of BP America, specializes in exploring and finding locations to drill for oil, as well as drilling for it.

Thursday, August 23, 2007

Researchers say that new, ten million-year-old fossils found in Ethiopia, prove that the theory that humans may have evolved from a species of great apes eight million years ago, may not be true, but that humans may have split from apes as long as 10.5 million years ago.

At least nine fossilized teeth, one canine tooth and eight molars, of a previously unknown species of apes found in Africa were discovered by a team of researchers from Ethiopia and Japan who then compared the 3-D make up of the teeth to other fossils that date back as far as 8 million years and found that the fossils are likely a “direct ancestor” of apes currently living in Africa and that the new ape fossils were that of a species of gorilla who ate mostly plants high in fiber.

Current fossils and research say that the evolutionary split from apes to humans occurred at least eight million years ago. The new fossils say that the split may have happened as long as 10.5 million years ago.

“Based on this fossil, that means the split is much earlier than has been anticipated by the molecular evidence. That means everything has to be put back,” said researcher at the Rift Valley Research Service in Ethiopia and a co-author of the study, Berhane Asfaw.

Despite the finds, other researchers are not convinced that the findings are correct.

“It is stretching the evidence to base a time scale for the evolution of the great apes on this new fossil. These structures appear on at least three independent lineages of apes, including gorillas, and they could relate to a dietary shift rather than indicating a new genetic trait,” said a Professor at the London Natural History Museum in the United Kingdom, Peter Andrews who also added, “but the fossil evidence for the evolution of our closest living relatives, the great apes, is almost non-existent.

Researchers have named the newly discovered species Cororapithecus abyssinicus whose remains were found in the Afar Region of Ethiopia, the same place where the remains of Lucy were discovered in 1974.

Wednesday, January 28, 2009

More than 400 senior managers within the United Kingdom’s BBC, which employs around 28,500 people, have been told that they face a real-terms pay cut as bonuses and pay rises are scrapped this financial year.

Tuesday’s announcement said that bonuses will not now be paid and pay rates will stay fixed until 2010. The BBC’s executive management board, including Director-General Mark Thompson, his deputy Mark Byford and the Director of BBC Vision Jana Bennett did not take their bonuses for 2009 and have already had their pay frozen. Senior staff will have their bonus plan abandoned whilst junior staff have been told to expect any pay increases to be modest.

The BBC is under budget constraints after receiving a licence fee settlement below the amount management felt it required. Coupled with the effects of the credit crunch, the BBC is believed to need to find £1.7bn in savings between now and 2013 but has seen a further £450m shortfall develop. Initial plans to sell important BBC buildings have been put on hold since the falls in the property market in 2008. The planned pay freeze could save £20 million but risks angering unions who are seeking a general increase of £1,800 per person. Gerry Morrissey of BECTU, the broadcasting union, has already mentioned the possibility of industrial action. He told Sky News, “We have never been in favour of bonuses being paid so believe this should happen every year, and the money go towards eradicating low pay.”

The Press Association quotes Mark Thompson as telling staff “A strategic contingency exercise, led by a senior group of managers, has been looking at what additional funds are needed should we need to put aside additional funds to cover our current estimate of the financial risks we face… We need to be in as strong a position as possible if we are to deliver distinctive content and meet our key strategic projects, such as moving to the new Broadcasting House, moving network production to the nations and funding our broadband future.”

The pay freeze will not affect the Corporation’s highest paid on-air talent, who are on individual contracts.

Sunday, March 30, 2008

While nearly all cover of the 2008 Presidential election has focused on the Democratic and Republican candidates, the race for the White House also includes independents and third party candidates. These parties represent a variety of views that may not be acknowledged by the major party platforms.

As a non-partisan news source, Wikinews has impartially reached out to these candidates, who are looking to become the 43rd person elected to serve their nation from 1600 Pennsylvania Avenue NW. Wikinews’ own Patrick Mannion corresponded with the Socialist Party USA nominee and candidate, Brian Moore via e-mail.

Wednesday, May 3, 2006

New filmmaker Solomon Rothman has released a trailer for his upcoming full length open source film called ‘Boy Who Never Slept.’ Both the movie and the trailer are offered under a Creative Commons Attribution-NonCommercial-ShareAlike 2.5 license. The movie is set to be released at the end of May.

The film centers on the life of an insomniac writer who meets a teenage girl online, and a friendship that grows into an unlikely love story wrapped in harsh reality. The movie deals with various issues, including the romanticization of love, age-related issues in relationships, like statuatory rape (he’s 23, and she’s 16), and the idea of love in the online realm.

Rothman, a writer, amateur filmmaker and web designer, lives in the Los Angeles Area. He wrote, directed and produced the movie with Aurora Mae, his girlfriend and partner. Producing the movie for $200 while they were in college, they used friends as actors and later sold the camera on eBay to recoup the expense.

Rothman has spoken about the power of the internet as a distribution source for movies and has said “I believe it’s possible that this movie I shot with no budget and released online for free could potentially reach as many viewers as a major theatrical release.”

Rothman and Mae started out with the idea of creating a full-length movie that could be shared totally for free online. The film includes a custom soundtrack and script, both of which will be released open source as well.

The trailer is available on the official movie website[1] and can also be found on Google video, YouTube.com, Ifilm.com, AddictedClips.com, and the Internet Movie Archives.

Tuesday, February 8, 2005

Bucharest, Romania – According to the Economist Intelligence Unit, Romania was the 14th most preferred country in the world for foreign companies looking to relocate their activities. This confirms Romania’s growing attractiveness for foreign investment.

The study examined the conditions in sixty countries, and took into account nine categories of indices: geographical proximity, political and security risks, economic stability, legislation, taxation, labour costs and skills level, and infrastructure. The scores given to the countries ranged from 1 to 10, 10 being the highest. The final composite score was calculated as a weighted average of the scores of the nine indicators. Some indicators, such as labour costs, had more weight than others.

Romania’s final score was 7.08 points, edged out in Europe by only Bulgaria (7.08 points), Slovakia (7.12 points) and Czechia (7.26 points). Romania’s strengths lay in the workforce cost category, where it received a score of 9.49, and in the geographical proximity chapter, where is received 8.35 points. It also scored well in the categories of economic stability and political and security risks, with 7.2 points each. The country’s weaknesses were mainly in the infrastrucutre chapter, where it received just 4.6 points.

Romania is further expected to improve its score in the coming years, as the effects of its new 16% flat tax rate on personal income and corporate profit come into effect, and as the country joins the European Union in 2007.

The worldwide leader in attractiveness for business relocation was India, with 7.76 points, due mainly to very low labour costs, high skill levels and a stable legal system. India edged out China by a considerable margin, with China being ranked second, with 7.34 points. China lags behind India mainly due to its lack of a well-developed legislative system.

Surprisingly, wealthy countries such as Japan, Norway and Denmark ranked very low, mainly due to their very high cost of labour.

Monday, January 31, 2005

Metlife announced on 01/31/05 that they were going to acquire Travelers Life and Annuity from Citigroup. Travelers Life and Annuity is an insurance underwriter. MetLife is a large life insurance and annuities underwriter. MetLife will have to borrow a lot of money to pay for the company, so rating agencies like S&P warn that the AA credit rating of MetLife might be lowered. This would cause the interest rates at which all of MetLife’s debt must be repaid to increase.

Citigroup committed to continue distributing Travelers life insurance and annuities through its Smith Barney stock brokers, Primerica agents, and Citibank branches.

Citigroup was previously known as Travelers Insurance before it bought Citicorp. First the Property and Casualty business of Travelers was spun off, and now the life insurance division has been sold off. This is primarily because insurance underwriters get a lower price to earnings multiple from the stock market because of the cycles and uncertainty associated with the insurance business. Also, having an insurance underwriter and a bank together does not usually create “cross-sell” opportunities, because consumers and businesses almost always buy life insurance and annuities through brokers who have a duty to give them other options. Citigroup will continue to sell insurance through its brokers as before.