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THE newly-formed Alcohol Health Alliance yesterday called for a higher taxes and a pre-9pm advertising ban for drink.

It will also campaign for the drink-driving limit to be reduced, with a near-zero limit for new drivers.

The alliance is made up of 24 health organisations and is chaired by Professor Ian Gilmore, the president of the Royal College of Physicians.

It wants greater dedicated funding for alcohol prevention and treatment strategies and more publicity about the negative effects of alcohol on health.

The alliance cites evidence that a 10 per cent hike in alcohol prices would cut alcohol-related deaths by between 10 and 30 per cent.

Its figures show a 95 per cent rise in alcohol liver cirrhosis rates since 2000 and a 36 per cent increase in the two years to 2006.

Alcohol-related deaths increased 18 per cent from 2002 to 2005. And 13 children per day are hospitalised as a result of alcohol misuse, the alliance said.

Prof Gilmore said: “Unless we act now to stem the rising tide of excessive drinking, particularly in the young, we will see yet more people dying prematurely in early adult life.”

The alliance is made up of medical bodies, patient representatives and alcohol campaign groups.

Related topic

- «news.scotsman.com»
http://news.scotsman.com/topics.cfm?tid=585

Yukon Premier Dennis Fentie says he’s confident his government’s $36.5-million investment in the global credit market remains secure, even though that money is frozen in what one economist called a “bet that turned out poorly.”

The territorial government, along with hundreds of other investors who poured billions of dollars into the global credit market, have been in limbo since the market was frozen in mid-August.

Canadian corporate lenders say it will take at least another month for the problem to be fixed. While opposition politicians decried what they said was a risky use of taxpayers’ money, Fentie said there’s no reason to panic.

“The unforeseen circumstance that developed has put many in this position, many governments including ourself,” Fentie said Tuesday.

“I got to tell you, I’m not all that concerned about it because we are working closely with the institutions related to this matter. So this is not a loss of money. This is merely an extension of the maturity date.”

What is ABCP?

ABCP asset-backed commercial paper is short-term corporate debt that is made up of a bundle of loans like credit card receivables and car loans. This debt is then resold to other investors, taking the original loans off the books of the company that first issued them. That can lead to lower lending standards because the originator of the loans doesn’t have to worry about collecting.

ABCP tends to yield more than Treasury bills, making it a popular place for money market funds and pension funds to park money. In Canada, about two-thirds of the $120-billion ABCP market is sponsored by the big banks. The rest is known as third-party, or non-bank ABCP.

In 2007, holders of some non-bank Canadian ABCP ran into trouble refinancing the debt when the credit crunch made investors shy away from any investment perceived to be risky.

In the notes to the Yukon’s public accounts documents, which were tabled in the legislative assembly this week, finance officials said they don’t know the status of the $36.5 million invested this summer on a 30-day note known as an asset-backed commercial paper. Such investments pay higher interest than safer government bonds or other investments. ‘Your government took a bet,’ economist says

In August, just before the Yukon’s investment was due to be cashed in, the government and other investors were told that their money was not going to be repaid on time. Finance officials say they expect to learn by mid-December what options they have to recoup the investment.

But David Andolfatto, an economics professor at Simon Fraser University, told CBC News that it could take years before the Yukon government finds out how much it will be able to recoup and there’s no guarantee on how much it will get back.

“Your government took a bet, and the bet turned out poorly,” Andolfatto said Tuesday in an interview.

He said that if the government or any other investors want their money back, they will have to find someone willing to buy their securities.

“Holders of the securities, like your government, don’t want to sell these assets for a low price, and there’s a bunch of buyers [that] don’t want to pay a high price for these securities,” he said.

“So I think that it’s going to take quite a long time before the mess is all sorted out.”

Andolfatto said that while other investors, such as mining companies and stock brokers, are all caught up in the credit market freeze-up, most governments kept their money in safer places.

“This is the first example I have ever heard of a government getting involved,” he said.

“They kind of got suckered in a little bit by the high yield without taking into account that, you know, this is a risky investment.” Past investments paid off big

“The finance minister took a risk with taxpayers’ money and now we may be out $36 million,” Liberal Opposition Leader Arthur Mitchell said during question period Tuesday.

Fentie insisted that not only is the current investment safe, but his government’s other investments over the years have been paying big dividends.

Nearly $7 million was earned by investing last year, and almost $4 million was gainedtwo years ago, he said. That has contributed to the territory’s healthy bank account, which boasts a $269-million surplus.

“So instead of a few hundred thousand dollars of earnings, we’re now in the millions,” Fentie said.

“Year to date, approximately $5 million more in investment earnings. And the Yukon government today also has approximately $200 million of cash.”

Andolfatto suggested the Yukon government could have used its surplus to give Yukoners a tax cut, rather than pour the money into high-risk investments.

“They’re basically using taxpayer money to invest,” he said. “Aren’t Yukon taxpayers capable of rolling their own dice?”

Action Insight | Written by ActionForex.com | Mar 30 07 14:26 GMT |
Forex Mid-Day Technical Report Dollar Soars on Strong Data

Dollar strengthens further in early US session after strong data from US. The Fed’s preferred inflation gauge, core PCE deflator, rose by 0.3% mom in Fe, pushing yoy rate to 2.4%, matching last Sep’s peak, indicating inflation risk remains substantially on the upside. Personal income and spending both rose more than expected by 0.6% comparing to expectation of 0.3%. Meanwhile, Chicago PMI staged an impressively strong rebound to 61.7 in Mar, much stronger than expectation of 49.2, and being the strongest reading since Apr 05. Construction spending rose 0.3% in Feb, which is also above expectation of -0.6%.

Released earlier, Eurozone HICP accelerated mildly to 1.9% in Mar as expected while unemployment rate dipped slightly from 7.4% to 7.3%. Sterling was pressured across the board, believed to be due to month-end corporate sales and stops being triggered. Gfk consumer confidence came it at -8 which is inline with expectation. Canadian dollar’s pre data rally was limited after mixed data which seen GDP growing 0.1% only in Jan while PPI rose 0.9% in Feb. EUR/USD

Daily Pivots: (S1) 1.3304; (P) 1.3327; (R1) 1.3354; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

EUR/USD dips further in early US session on broad based dollar strength. At this point, intraday bias will remain on the downside as long as EUR/USD stays below 1.3347 minor resistance. As discuss before, as consolidation from 1.3410 is still in progress with 4 hours MACD kept below signal line, further pull back is still in favor to 1.3253 support. But still, Downside of this consolidation is still expected to be contained by 1.3200/02 cluster support (61.8% retracement of 1.3070 to 1.3410 at 1.3200, 38.2% retracement of 1.2865 to 1.3410 at 1.3202) and bring rally resumption.

On the upside, above 1.3347 will suggest that fall from 1.3373 has likely completed and should bring retest of 1.3410. Firm break above 1.3410 cluster resistance (61.8% projection of 1.2483 to 1.3364 from 1.2865 at 1.3409) is needed to confirm recent rally has resumed for next upside target of 1.3668 (04 high). Otherwise, choppy consolidation could extend further.

In the bigger picture, with EUR/USD still trading comfortably within medium term rising channel (1.1639, 1.2483, 1.2978) medium term up trend from 1.1639 is still in progress. The rise from 1.2865 is treated as resumption this up trend. Sustained break of 1.3364/09 resistance zone will confirm this and bring further rise towards 1.3668 resistance (04 high). Focus will be on reversal signal when EUR/USD enter into resistance zone of 1.3668 (04 high) and 100% projection of 1.1639 to 1.2978 from 1.2483 at 1.3822 as the whole up trend from 1.1639 could terminate there.

However, break of 1.3200/02 cluster support will warn that the whole rally from 1.2865 has completed and will shift focus back to 1.3070/73 clusters support (61.8% retracement of 1.2865 to 1.3410 at 1.3073). Sustained break of 1.3070/73 clusters support will dampen the above view and indicate that the whole medium term up trend from 1.1639 might have completed earlier then we thought. Focus will be turned back to medium term rising channel (now at 1.2890).

GBP/USD

Daily Pivots: (S1) 1.9600; (P) 1.9628; (R1) 1.9646; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

Cable’s consolidation from 1.9726 continues and dips further to as low as 1.9545, touching mentioned 1.9554 support. At this point, intraday bias remains on the downside as long as 1.9657 and further decline is still in favor. However, downside of the consolidation from 1.9726 is expected to be contained well above 1.9395 cluster support (61.8% retracement of 1.9183 to 1.9726 at 1.9390) and bring rally resumption. On the upside, above 1.9657 will suggest that current retreated completed and should bring retest of 1.9726 high. Sustained break of 1.9726 resistance will confirm recent rally from 1.9183 has resumed for 1.9913 high.

In the bigger picture, with bearish divergence conditions being displayed in weekly RSI and daily MACD a medium term top should be around the corner. The up trend from 1.7047 should make a top after reaching 2.0076/0106 cluster resistance zone (1992 high, 100% projection of 17047 to 1.9024 from 1.8090 at 2.0067, 61.8% projection of 1.8517 to 1.9913 from 1.9213 at 2.0076. And hence, focus will be on reversal signal as cable approaches these levels.

On the downside, sustained break of 1.9215/17 cluster support will indicate that the whole up trend from 1.7047 might have completed earlier then we thought and should the bring deeper correction to 1.8834 cluster support (38.2% retracement of 1.7047 to 1.9913 at 1.8818) first.

USD/CHF

Daily Pivots: (S1) 1.2144; (P) 1.2164; (R1) 1.2195; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

USD/CHF extends rebound to as high as 1.2239 on broad based dollar weakness and is now pressing mentioned 1.2228/30 cluster resistance (61.8% retracement of 1.2354 to 1.2029 at 1.2230, 38.2% retracement of 1.2550 to 1.2029 at 1.2228). At this point, intraday bias remains on the upside as long as USD/CHF stays above 1.2152 minor support and further rally could still be still to 100% projection of 1.2029 to 1.2227 from 1.2082 at 1.2280. Break will put key near term resistance of 1.2354 (61.8% retracement of 1.2550 to 1.2029 at 1.2351) in focus. On the downside, below 1.2152 will turn intraday outlook consolidative first. But a break below 1.2082 is needed to confirm recent rebound has completed. Otherwise, short term remains on the upside.

In the bigger picture, medium term outlook remains bearish with USD/CHF staying below both 55 days EMA and 55 weeks EMA. Daily and weekly MACD are staying negative, supporting this view too. The preferred interpretation at this point is that the whole down trend from 1.3283 is still in progress with the first move from 1.3283 finished with three waves down to 1.1919. Subsequent rebound to 1.2768 was the interim correction and price actions from there represent resumption of such down trend. Sustained break of 1.1878 will add more credence to this view and bring further medium term weakness towards 100% projection of 1.3283 to 1.1919 from 1.2768 at 1.1404.

However, note that USD/CHF is still bounded in wide range of 1.1878 to 1.2768. A rebound to above 1.2354 resistance will dampen this view and indicate that the fall from 1.2571 has completed after meeting 1.2027 fibo support. Another rise could then be seen to retest this high and then the upper end of the range at 1.2768.

USD/JPY

Daily Pivots: (S1) 117.10; (P) 117.59; (R1) 118.54; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

USD/JPY’s rally from 116.38 extends further on broad based dollar strength. At this point, further rise is still in favor as long as USD/JPY stays above 117.48 minor support. As discussed before, the path of consolidation from 115.13 could be choppy and unpredictable. But upside is still expected to be limited by 100% projection of 115.13 to 118.49 from 115.75 at 119.10. But a break of 116.38 support is needed to signal that such consolidation has completed first and bring retest of 115.13 low. Otherwise, risk of further recovery remains. Meanwhile, firm break of 115.13 low will confirm that fall from 122.17 has resumed for next downside target of 114.02/41 support zone (61.8% retracement of 108.99 to 122.17 at 114.02).

In the bigger picture, our view remains unchanged. Previous break of medium term rising channel support (108.99, 114.41, 117.87) indicates the whole up trend from 108.99 has completed at 122.17. Weekly MACD’s stay below signal line is still supporting this. The corrective nature of the rise from 108.99 swings favors back to the case that such medium term rally is merely part of a large scale consolidation that started at 121.38, with first leg completed at 108.99 and second leg completed at 122.17. The fall from 121.17 should then the third leg of such consolidation and deeper decline should at least be seen to below 114.02/41 support zone (61.8% retracement of 108.99 to 122.17 at 114.02) first with much possibility of further fall to retest 108.99 low.

However, decisive break of 119.48 fibo resistance will argue that the price actions from 122.17 is developing into large range consolidation instead. A retest of 122.17 high could be seen in such case. But still, firm break above this resistance is needed to confirm medium term rally from 108.99 has resumed. Otherwise, medium term outlook will be neutral at best.

EUR/JPY

Daily Pivots: (S1) 155.98; (P) 156.72; (R1) 158.09; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

EUR/JPY edges higher today but upside is still kept below 158.01 high. Short term outlook remains neutral at this point. A short term top is formed after rise from 150.75 failed to take out 157.61/73 cluster resistance (100% projection of 150.75 to 155.72 from 152.64 at 157.61, 78.6% retracement of 159.63 to 150.75 at 157.73) decisively and formed a top with bearish divergence conditions in 4 hours MACD and RSI. Hence, firm break above 158.01 again is needed to confirm short term bullishness has resumed for 159.63 high. Otherwise, risk of another fall remains.

Meanwhile on the downside, break of 155.34 low again (50% retracement of 152.64 to 158.01 at 155.33), which should also bring sustained trading below mentioned rising trend line, will indicate the the whole rise from 150.75 has already completed and deeper decline should then been seen to 152.64 support.

In the bigger picture, we’re treating the whole year long rise from 130.60 as resumption of the long term up trend with first wave ended at 143.60, subsequent correction ended at 137.167. The third wave up could have ended at 159.63 with a diagonal triangle already. Fall from 159.63 should represent the fourth wave correction and has already met it’s target of 38.2% retracement of 137.16 to 159.63 at 151.05) and lower channel line (143.60 to 159.63, 137.16, now at 151.32). Prior strong rebound from the channel line is so far consistent with this view. Hence, retest of 159.63 high should be seen and EUR/JPY should make a new high before finally forming a medium term top.

However, below 152.64 support again will dampen the above view and indicate that the rebound from 150.75 could probably be a correction to fall from 159.63 only. This will also put the channel support back into focus. Sustained break of the channel will indicate that a major medium term top already in place at 159.63 and that much deeper decline is indeed underway towards 147.71 support first.

Forex News Digest

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBi2Wes_bAdE&refer=home

http://www.bloomberg.com/apps/news?pid=20601083&sid=aOMj0GLBcM48&refer=currency

http://www.bloomberg.com/apps/news?pid=20601083&sid=aSZWsghYXR2k&refer=currency

http://www.bloomberg.com/apps/news?pid=20601083&sid=a7Uf43IIi9Do&refer=currency

http://www.bloomberg.com/apps/news?pid=20601083&sid=av_fu4xyavcw&refer=currency

http://www.bloomberg.com/apps/news?pid=20601083&sid=akfY4UqlEbng&refer=currency

http://c.moreover.com/click/here.pl?r866924724
Fri, 30 Mar 2007 10:03:00 GMT from AP via MSN Money

http://c.moreover.com/click/here.pl?r866909513
Fri, 30 Mar 2007 09:49:00 GMT from Reuters

http://c.moreover.com/click/here.pl?r866829823
Fri, 30 Mar 2007 08:36:00 GMT from Bloomberg

http://c.moreover.com/click/here.pl?r866804952
Fri, 30 Mar 2007 08:11:00 GMT from Bloomberg

http://c.moreover.com/click/here.pl?r866788956
Fri, 30 Mar 2007 07:53:00 GMT from New Zealand Herald

http://c.moreover.com/click/here.pl?r866770855
Fri, 30 Mar 2007 07:33:00 GMT from Bloomberg

http://www.actionforex.com/latest_news/latest_news/forex_news_20060323537/ Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised
22:45 NZD New Zealand GDP Q/Q Q4 0.80% 1.00% 0.30%
23:30 JPY Japan Household spending Feb 1.30% 0.60% 0.60%
23:30 JPY Japan National CPI Y/Y Feb -0.20% -0.10% 0.00%
23:30 JPY Japan Unemployment rate Feb 4.00% 4.00% 4.00%
23:50 JPY Japan Industrial production M/M Feb -0.20% -0.70% -1.70%
06:00 EUR Germany Retail sales M/M Feb 0.90% 0.90% -5.10%
09:00 EUR Eurozone HICP Y/Y Mar 1.90% 1.90% 1.80%
09:00 EUR Eurozone Unemployment rate Feb 7.30% 7.30% 7.40%
09:00 EUR Eurozone Economic Confidence Mar 111.2 109.7 109.7
09:00 EUR Eurozone Consumer Confidence Mar -4 -4 -5
09:00 EUR Eurozone Industrial Confidence Mar 6.1 5.4 5.4
09:00 EUR Eurozone Services Confidence Mar 22.3 20 19.6
09:30 GBP U.K. Gfk Consumer Confidence Mar -8 -8 -8
12:30 USD U.S. Core PCE M/M Feb 0.30% 0.20% 0.30% 0.20%
12:30 USD U.S. Core PCE Y/Y Feb 2.40% 2.40% 2.30% 2.20%
12:30 USD U.S. PCE index Y/Y Feb 2.30% 2.20% 2.00% 1.90%
12:30 USD U.S. Personal income Mar 0.60% 0.30% 1.00%
12:30 USD U.S. Personal spending Mar 0.60% 0.30% 0.50%
12:30 CAD Canada GDP M/M Jan 0.10% 0.20% 0.40%
12:30 CAD Canada PPI M/M Feb 0.90% 0.70% -0.10% 0.20%
12:30 USD Fed Plosser speaks
13:45 USD U.S. Chicago PMI Mar 61.7 49.2 47.9
14:00 USD U.S. Construction spending Feb 0.30% -0.60% -0.80% -0.50%
14:00 USD U. of Michigan survey Mar 88.4 88.5 91.3
16:00 USD Fed Bernanke speaks

http://www.actionforex.com/general_information/forex_newsletters/forex_newsletter_200507301487/

(02-22) 04:00 PST Los Angeles —

More than a third of the 143 million pounds of California beef recalled last week went to school lunch programs, with at least 20 million pounds consumed, officials with the U.S. Department of Agriculture said Thursday.

About 50 million pounds of the meat went to schools, said Eric Steiner, deputy administrator of the USDA’s Food and Nutrition Service’s special nutrition programs.

Of that amount, about 20 million pounds have been eaten, 15 million pounds are on hold at storage facilities and 15 million pounds are still being traced, he said.

Officials said, however, that they still weren’t able to provide the names of all the places the meat wound up.

“Sitting here today, I cannot tell you how many locations the product has gone to,” said Dr. Kenneth Peterson of the USDA’s Food Safety and Inspection Service.

“Our focus is identifying the locations and making sure the product is under control,” he said.

The USDA shut down Westland/Hallmark Meat Co. of Chino (San Bernardino County) and issued the nation’s largest beef recall after the Humane Society of the United States released undercover video of workers kicking and shoving sick and crippled cows and forcing them to stand with electric prods, forklifts and water hoses.

The plant produces about a fifth of all the meat in the federal school lunch programs, said Bill Sessions, associate deputy administrator for livestock and seed programs with USDA’s agriculture marketing service.

One of the workers accused of abusing the debilitated cattle in the video, Luis Sanchez, turned himself in to Chino police on Wednesday, San Bernardino County prosecutors said Thursday.

Sanchez pleaded not guilty Thursday in San Bernardino County Superior Court to three misdemeanors involving illegal movement of sick or injured cattle. He was scheduled for a Feb. 28 pretrial hearing and remained in custody in lieu of $15,000 bail, Deputy District Attorney Debbie Ploghaus said.

Another worker, Daniel Ugarte Navarro, 49, was taken into custody Saturday and released Sunday on $7,500 bail. He has pleaded not guilty to five felony counts of animal abuse in addition to three misdemeanors.

Regular health insurance and Medicare generally don’t help you pay for nonmedical needs that can arise when you’re ill or recovering. And those needs can arise more often as you progress into your golden years.

The insurance industry calls those needs activities of daily living. They include getting dressed, eating, washing and going to the bathroom. The elderly and frail sometimes need help performing those tasks.

Often labeled custodial care, that’s what long-term care insurance specializes in. LTC insurance can also pick up where time limits on Medicare or regular insurance cut off their coverage.

And LTC insurance can cover you before you’re even eligible for Medicare at age 65.

The sooner you buy it, the cheaper it will be. “If you wait until age 70, you can pay triple the premium you’d pay as a 50-year-old,” said Jerry Miccolis, senior financial adviser at Brinton Eaton Associates, a financial planning firm in Morristown, N.J.

Even in your 50s, LTC insurance can be pricey. But there are ways to shave costs.

Say a hypothetical Joan Jones, age 55, is shopping for coverage. She wants a top-of-the-line policy. That could include:

A daily benefit of $200 a day, if Jones needs care.

Coverage that will pay benefits for as long as she needs care. That could last the rest of her life.

A 5% compound annual adjustment for inflation. So the initial $200 daily benefit would be around $400 when Jones is 69.

A 30-day so-called elimination period. With this feature, Jones would pay for 30 days of care herself. Then the insurance benefits would start.

Miccolis says such a policy would cost nearly $7,000 a year.

If Jones wants to trim that bill, the biggest single cut would come from trimming how long the policy pays a benefit. Suppose she buys a policy that will pay benefits for up to three years instead of a lifetime policy. That would cut her annual premium to $3,000 from $7,000.

Tactical Trims

And three years is often enough. “Among people over 65 who are in nursing homes, half will leave within three months,” Miccolis said.

For the other half, the average stay is 2 1/2 years.

But people with dementia, for instance, tend to stay longer. So you might want to get more coverage if that’s in your family history.

A policy providing benefits for, say, five or 10 years costs more than a three-year policy. But it would still be cheaper than lifetime coverage.

Another way to save costs is to change the formula for inflation adjustments. You can choose simple rather than compound increases.

Say Jones picks a 5% simple inflation adjustment. Her $200 daily benefit would go up $10 a day each year. Jones would have a $340 daily benefit after 14 years.

A 5% simple cost of living allowance (COLA) would cut the premium on the top-of-the-line policy from $7,000 to $4,500 a year.

Miccolis says that a simple COLA might work best for people 70 or older. Odds are that they have fewer years for the gap between a simple and a compound COLA to cost a lot.

In your 50s, a compound COLA might make sense. And you can cut costs by taking a lower daily benefit to start with.

Some LTC policies offer a so-called future purchase option. That gives you a chance to buy extra coverage every two or three years, without taking a physical exam.

Yet another budget move is to take a longer elimination period. You might choose a 90-day rather than a 30-day wait for benefits.

That’s like taking a higher deductible for regular medical. You might pay more for any needed care before the coverage kicks in.

But you’ll pay lower yearly premiums. Taking a 90-day elimination period instead of a 30-day cuts the cost of a $7,000 top-of-the-line policy to around $5,750.

And you don’t have to limit yourself to one cost-cutter. Say Jones uses all the above suggestions. She buys a $200 daily benefit, three years of coverage, a simple COLA and a 90-day elimination period.

Instead of $7,000 a year for a top-of-the-line policy, her annual premium would be less than $2,000.

And Jones may decide that she doesn’t really need to start with a $200 daily benefit. That depends on where she might need care.

Balancing Benefits

In Los Angeles, the average cost of a private room in a nursing home was $215 a day in 2007, according to a survey by MetLife. In Boston, the average was $297.

Jones might plan to live in Florida after retiring. The average daily room cost in Miami is $211. In Jacksonville, it’s $188.

Jones might cut back on the daily benefit she buys. A policy with a $180 daily benefit, for example, costs 10% less than one with a $200 benefit.

The more LTC costs you expect to be able to pay from your own assets, the lower the daily benefit you’ll need and the less LTC insurance will cost.