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Archive for the ‘Health’ Category

Bundesbank sees German Q1 GDP growth slower than Q4 2006

Friday, May 25th, 2007

FRANKFURT (Thomson Financial) - German GDP growth in the first quarter is expected to have slowed compared with the fourth quarter last year, as increases in value-added taxes curbed private consumer spending, the Bundesbank said in its monthly report.

“Growth in real GDP, in seasonal and calendar-adjusted terms, could have narrowed in line with expectations compared with the strong growth seen towards the end of 2006,” it said.

The Federal Statistics Office is due to release preliminary first quarter GDP figures on May 15.

In the fourth quarter last year, German GDP grew 0.9 pct in seasonally, price and calendar-adjusted terms compared with the third quarter.

The Bundesbank said latest indicators pointed to the continuation of economic recovery in the first quarter, with the major positive impulse coming from the industrial sector.

But with VAT increasing to 19 pct at the start of the year from 16 pct, private consumer spending declined — taking a toll particularly in the sales of retail and passenger car markets — “significantly” dampening GDP growth as a result, the central bank said.

It said a trend toward rising exports has been more than mitigaged by a stronger than expected rise in imports, resulting in a negative impact on GDP growth.

But investments, both for producer goods and construction, remained “lively”, while companies are stocking up their inventories, contributing further to growth.

marilyn.gerlach@thomson.com

mog/vs

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Daily Report: Dollar and Yen Retreat

Friday, May 25th, 2007

Action Insight | Written by ActionForex.com | Jan 09 07 08:04 GMT |
Forex Daily Technical Report Dollar and Yen Retreat

Dollar and yen continue to retreat against European majors today after last week’s sharp rally. Germany trade surplus and current account surplus both widened more than expected in November. German industrial production will also be featured later today. But reactions should be muted as markets’ focus is on the latter part of the week on US trade balance and retail sales as well as ECB rate decision.

Fed Vice Chairman Kohn delivered a 2007 outlook yesterday. Kohn maintained a surprisingly hawkish tone stating that the economic activity is “is likely to post continuing healthy gains over coming quarters” and even suggested that growth in the second half of the year could bounce back to potential. Even though Kohn believed that inflation will gradually moderate, but he heavily qualified his comments by suggesting that some of the recent deceleration in inflation may have been due to one-time factors. He cited tight labor markets, elevated labor compensation and the already-high level of inflation as risks to the expected slowing of price growth. After all, his comments are inline with the Fed minutes in a way that inflation is still a predominant concern of the board members.. EUR/USD

Daily Pivots: (S1) 1.2984; (P) 1.3010; (R1) 1.3048; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

After edging lower to 1.2972, EUR/USD recovers as expected and is now pressing 55 hours EMA (now at 1.3043). At this point, recovery is expected to extend towards 1.3104 resistance. Also, with 4 hours MACD’s recovery to above signal line and 4 hours RSI’s recovery from oversold region, a short term bottom should be formed. Break of 1.3104 resistance will confirm this and bring further rebound.

Also, discussed before, as 1.2922 cluster support (50% retracement of 1.2483 to 1.3362 at 1.2923) remains intact, we’re still holding on to the preferred case that price actions from 1.3362 is merely consolidation to rally from 1.2483. Break of 1.3179 resistance will add much credence to the case that fall from 1.3296 has completed and should bring retest of this resistance.

However, one should note that further decline cannot be ruled out as long as EUR/USD stays below 1.3104 cluster resistance. Also, sustained break of 1.2922 cluster support will seriously dampen the preferred case and at least, suggests deeper decline will be seen to challenge 1.2760 support.

In the bigger picture, EUR/USD’s medium term up trend from 1.1639 (06 low) is still in force and is expected to continue towards 1.3668 (04 high) and probably further to 100% projection of 1.1639 to 1.2978 from 1.2483 at 1.3822. However, as it’s unclear whether this rally from 1.1639 represents resumption of multi-year up trend from 0.8223 or just part of a large scale consolidation that started at 1.3668, close attention will be paid to loss of upside momentum and reversal pattern formation as EUR/USD approaches 1.3668/1.3822 zone. On the downside, break of 1.2760 support will turn medium term outlook neutral and argue that whole medium term rally from 1.1639 has completed.

GBP/USD

Daily Pivots: (S1) 1.9288; (P) 1.9346; (R1) 1.9432; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

Cable’s rebound from 1.9261 extends further to as high as 1.9454 today. Break of mentioned 1.9432 resistance with 4 hours MACD back to above signal line indicates a short term bottom is already formed at 1.9261, after getting support from the short term rising trend line. Further rise is now expected to follow towards 1.9564 support turned resistance (61.8% retracement of 1.9750 to 1.9261 at 1.9563)

As discussed before, with 1.9177 cluster support (50% retracement of 1.8517 to 1.9846 at 1.9182, 23.6% retracement of 1.7047 to 1.9846 at 1.9185) remains intact, we’re still holding on to the preferred case that price actions from 1.9846 is merely correction to rise from 1.8834 only. Break of 1.9564 cluster resistance will add much credence to the case that fall from 1.9750 has completed and should bring further rise to this resistance.

However, below 1.9261 will indicate fall from 1.9750 has resumed and 1.9177 cluster support will be back to focus again. Break of 1.9177 will dampen this case seriously and should bring further decline to 1.8834 support.

In the bigger picture, cable’s medium term up trend from 1.7047 is still in progress and further rise is expected to follow towards 2.0106 cluster resistance (1992 high, 100% projection of 17047 to 1.9024 from 1.8090 at 2.0067). But close attention will be paid to sign of loss of upside momentum and reversal pattern formation as cable approaches 2.0106 cluster resistance. On the downside, sustained break of 1.9177 cluster support will turn medium term outlook neutral and argue that the whole rise from 1.7047 has possibly completed. Break of 1.8834 will add further weight to this case and turn focus back to 1.8517 support.

USD/CHF

Daily Pivots: (S1) 1.2324; (P) 1.2367; (R1) 1.2404; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/.

USD/CHF’s rally from 1.2111 was limited at 1.2412. Subsequent retreat has dragged 4 hours MACD below signal line and suggest that a short term top is already in place at 1.2412. Further consolidation is now expected to follow with risk of pull back to 1.2270 support. But still, as long as retreat is contained above 1.2270 support, further rally is still in favor in the short term towards 100% projection of 1.1878 to 1.2268 from 1.2111 at 1.2501. Break of 1.2270 is needed suggest the rise from 1.2111 has completed and bring deeper decline.

In the bigger picture, break of 1.2343 resistance has opened up a few possibilities. Above 1.2501 projection will starts to argue the rise from 1.1878 could be of impulsive nature. In other words, the whole down trend from 1.3283 could have completed and the current rise from 1.1878 could be a resumption of the medium term rebound from 1.1288 to 1.3283. But still, a strong break of 1.2768 cluster resistance is needed to confirm such case. Otherwise, USD/CHF will just be bounded in choppy range trading between 1.1878 and 1.2768. Meanwhile, on the downside, a break below 1.2110 support is needed to shift focus back to the downside. Otherwise, further rally is still in favor.

USD/JPY

Daily Pivots: (S1) 118.32; (P) 118.56; (R1) 119.03; http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/pivot_points_summary_200603205734/

At this point, USD/JPY is still engaged in choppy sideway trading between 117.96 and 119.03. As discussed before, bearish divergence condition in 4 hours MACD and RSI indicates a short term top is already in place at 119.68. Hence, from a short term angle, further consolidation is expected to follow as long as USD/JPY stays below 119.86 resistance. Another fall is expected towards to 38.2% retracement of 114.41 to 119.68 at 117.67 or lower.

However, downside should be contained by 116.42/63 support zone (61.8% retracement of 114.41 to 119.68 at 116.42) and bring resumption of rise from 114.41. below 116.42/63 support zone will argue that whole rally from 114.41 has completed and put focus back to 114.41 low again.

In the bigger picture, fall from 121.38 to 108.99, with its three wave nature, should either represent the correction to whole year long up trend from 101.65 to 121.38, or part of such correction. That is, the medium term rally from 108.99 is either resumption of the whole up trend from 101.65 or a rising leg of consolidation pattern that started at 121.38.

Favor is still in the former case as long as USD/JPY stays above 113.14/39 cluster support (61.87% retracement of 108.99 to 119.86 at 113.14). And above 119.86 will bring further rise to 121.38 (04 high) again. Also, note that the current rally has pushed USD/JPY above multi-year falling trend line (147.68 to 135.20, now at 117.65) again. Sustained break of 121.38 resistance will confirm that whole up trend from 101.65 has resumed.

Forex News Digest

http://c.moreover.com/click/here.pl?r762167337
Tue, 9 Jan 2007 04:38:00 GMT from The Australian

http://c.moreover.com/click/here.pl?r762150630
Tue, 9 Jan 2007 04:20:00 GMT from Reuters

http://c.moreover.com/click/here.pl?r762133703
Tue, 9 Jan 2007 03:59:00 GMT from Bloomberg

http://c.moreover.com/click/here.pl?r762097099
Tue, 9 Jan 2007 03:09:00 GMT from Reuters Canada

http://www.actionforex.com/latest_news/latest_news/forex_news_20060323537/ Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised
00:01 GBP U.K. BRC retail sales Dec 2.50% 1.50% 0.50%
00:30 AUD Australia Retail sales Nov 0.20% 0.30% 0.80% 0.90%
07:00 EUR Germany Trade balance (euro) Nov 19.3B 16.0 B 17.2 B 17.4B
07:00 EUR Germany Current account (euro) Nov 12.5B 11.0 B 11.6 B 11.7B
07:00 EUR Germany Imports M/M Nov -3.80% -0.50% -0.20% -0.40%
07:00 EUR Germany Exports M/M Nov -0.50% -1.70% 2.60% -2.50%
11:00 EUR Germany Industrial prod’n M/M Nov 1.00% -1.40%
11:00 EUR Germany Industrial prod’n Y/Y Dec 4.60% 3.40%
13:15 CAD Canada Housing starts Dec 225.0 K 225.0 K

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

 

Cancer patients told life-prolonging treatment is too expensive for NHS

Friday, May 25th, 2007

- Life-prolonging Suten will not be offered to advanced cancer sufferers
- 2000 monthly price tag deemed too costly for NHS
- Critics say Suten is effective and should be made available

Key quote: “The NHS is saying to [patients], ‘Tough luck, there’s nothing we can give you’. But that is not the case. If you lived in North America you would get these drugs, but not in Scotland.” - Dr Paul Nathan, consultant oncologist

Story in full

PATIENTS with advanced kidney cancer in Scotland are to be denied a drug which could prolong their lives.

The Scottish Medicines Consortium (SMC) yesterday refused to recommend Sutent for use on the NHS, meaning patients who fail on current treatment will have no other drug options.

The decision was criticised by doctors and charities, which said around 300 patients a year in Scotland would benefit from the treatment.

But others said such decisions were necessary in an NHS with limited resources.

Sutent works by stopping the signals in the body that tell cancer cells to grow and multiply. The drug also stops blood vessels growing into the tumour.

The manufacturer, Pfizer, applied for the drug to be approved for use in patients who failed to respond to interferon-alpha.

But the SMC ruled that “the economic case has not been demonstrated”.

The drug costs around 2,000 a month, compared to 700-800 for interferon.

Pat Hanlon, from Kidney Cancer UK, said:

“We know the NHS has limited resources, but for patients with kidney cancer there are not many other treatments they can try.

“When they stop responding to interferon, there is nothing else for them.”

Paul Nathan, a consultant medical oncologist, said data showed that Sutent doubled the length of time before kidney cancers started growing again.

Dr Nathan said, while it was not a cure, it could extend patients’ lives by eight months or more.

A consultant oncologist working in the NHS in Scotland, who asked not to be named, said he understood that the NHS had a limited pot of resources.

“But for my patients, if you are diagnosed with advanced kidney cancer your chances of responding to current treatment are minimal - four out of five will get no benefit,” he said.

“Then the NHS is saying to them, ‘Tough luck, there’s nothing we can give you’.

“But that is not the case. If you lived in North America you would get these drugs, but not in Scotland.”

The issue of NHS resources and drugs rationing is set to be discussed tonight in a debate organised by The Policy Institute.

One of the speakers, Dr Andrew Walker, health economics expert at Glasgow University, said organisations such as the SMC were necessary to make treatments fairer, no matter where you live.

But he said that, for individual patients, the decisions could be tough.

“What the SMC has to do is to look at what is good for the population generally, rather than for individual patients.

“If you spend the money in one place you can’t spend it elsewhere,” he said.

But the economist will also talk about the need to scrutinise other areas of health policy to make sure they represent value for money.

Dr Walker asked: “If you subjected government policy to the same level of scrutiny to which we subject new treatments, would there be some spending areas which could free up resources for use elsewhere, including the drugs bill?”

Dr Anna Gregor, clinical director of the South East Scotland Cancer Network, who will also speak at the debate, added: “There will never be enough money for everything we want in a cash-limited system. There will always be choices.

“What is important is that there is openness in how these decisions are made. In Scotland we have the Scottish Medicines Consortium. This has helped mean that what we are providing is provided consistently.” NEW MEDICINES THAT WON FAVOUR

PATIENTS suffering from rare types of anaemia will benefit from a new drug which has been approved for use on the NHS in Scotland.

The Scottish Medicines Consortium (SMC) recommended Exjade for patients with chronic iron overload linked to treatment for anaemia, which means they have to undergo repeated blood transfusions.

The SMC also accepted the drug Prograf to stop rejection in heart patients who have had a transplant of tissue, cells or a whole organ.

And the drugs body has approved the use of Tachosil - a type of medicated sponge used in surgery. The sponge is used to stop bleeding where other techniques used by doctors have failed. OBESITY DRUG TURNED DOWN

THE anti-obesity drug Acomplia has been rejected for use on the NHS.

The drug, which costs about 55 for a 28-day treatment, was licensed last summer as the first drug to target factors governing appetite, metabolism and energy use.

Trials have shown that it can reduce weight by a tenth. But the Scottish Medicines Consortium said the economic case had not been demonstrated.

Sanofi-aventis, which makes the drug, said it now plans to submit more evidence to the SMC.

The SMC also rejected the drug Alimta, for non-small cell lung cancer.

It works by blocking enzymes thought to play a role in the rapid growth of these lung tumours.

Related topic

- http://news.scotsman.com/topics.cfm?tid=677
http://news.scotsman.com/topics.cfm?tid=677

 

Heart Recipient Conquers Andes Climb

Friday, May 25th, 2007

(AP)She’s a climber with heart, and it’s not even her own.

Kelly Perkins, a 45-year-old Californian who had a heart transplant more than a decade ago, has added a dangerous free climb in the Andes to a string of mountaineering feats.

Perkins, the first person to climb the Matterhorn, Mount Fuji and Mount Kilimanjaro with another person’s heart beating in her chest, recently completed a challenging roped ascent with her husband, Craig, up the side of an unexplored peak in the South American chain.

She dubbed the route the “Charmed Heart” as she led her team up one of several unnamed peaks in the remote Cajon de Arenales region near Argentina’s border with Chile, more than 650 miles west of Buenos Aires.

“It was another planet, the landscape was so beautiful,” Perkins said. “There are not a lot of places in the world that are so pristine and untouched.”

Aside from her donated heart, the only thing setting her apart from the others on the trip was a backpack jammed with prescription drugs, medical supplies and a blood-pressure monitor.

Perkins grew up around Lake Tahoe, Calif., acquiring a love for the outdoors that led to annual backpacking trips with friends. Her zeal for mountain trekking and climbing only increased after her transplant on Nov. 20, 1995. Any fears about stressing her new heart were overwhelmed by a desire to rebuild her strength.

Some 3 1/2 years earlier, she had been diagnosed with cardiomyopathy _ a disease in which heart muscle becomes inflamed _ which doctors blamed on a virus. For more than three years, she and her husband shuttled in and out of hospitals seeking a donor heart.

About 10 months after her operation, she hiked up the backside of Half Dome peak in Yosemite National Park, a 4,100-foot ascent up to the 8,842-foot elevation.

“I wanted to do something significant to help change the image that friends and family had developed of me, and also the image I had formed of myself,” she said, adding she found inspiration during her recovery from a classic Ansel Adams photo of Half Dome hanging in her home.

“It was something I looked at every day and was ever-present in my mind, and I thought it was the perfect opportunity to do a long hike and because we had never done Half Dome before,” she said. “Craig and my relationship was established in the mountains, and I felt if I could rebuild my strength and regain at least some of my former athleticism, an improved image would naturally follow.”

Perkins next went to the top of Japan’s Mount Fuji in 1998, Tanzania’s Kilimanjaro in 2001 and Switzerland’s Matterhorn in 2003. She used ropes in 2005 to ascend Yosemite’s El Capitan _ 3,000 feet up the granite monolith.

The Andes adventure was all free climbing, using ropes and protective gear only for safety’s sake as she moved up the rock under her own power, using only hands and feet to find natural holds in the crevices of the rock. She said the climb was much more physically demanding than El Capitan, and more difficult because of the thinner levels of oxygen at base camp of 10,000 feet. The altitude forced her to stop frequently to catch her breath and let her heart rest.

From there she stared up in awe at several peaks towering around a high valley. The group spent days exploring rocky slopes never believed to have been touched by climbers in technical gear.

The group advanced slowly, grabbing toe and fingerholds while placing protective devices in the rocks as she led the so-called “sharp end of the rope.” Along the way, the climbers used pitons and spring-loaded camming devices to inch ever higher. On the way down they removed all the gear, save some bolts drilled or hammered into rocks at belaying points that could be used for safe ascents and rappelling by future climbers.

“On El Capitan we climbed the ropes to get to the top, but here we were very much using our arms, hands and feet to move up the wall,” Perkins said.

She also said it was a challenge going up an unexplored rock face.

“Every other mountain we’ve done, the routes had already been established,” Perkins said.

She said charting unknown territory left her musing on the first pioneering heart transplants decades ago and later medical breakthroughs that have saved many lives. Without such discoveries, she said, “I wouldn’t be alive today.”

“When I first got my heart, my life expectancy was 10 years, so I feel very fortunate,” Perkins said.

“Needless to say, for me, going from needing to be carried up the stairs in our home at night to climbing and exploring new mountains is unimaginable. This we owe to donors, doctors, drugs and new technologies, and I am thankful to benefit from all the medical milestones that have made this all possible.”

Perkins and her husband were joined on the climb by Argentine guide Ramiro Calvo. A Boulder, Colo.-based documentary filmmaker, Michael Brown, filmed the ascent while climbing in a parallel group with two other people.

Calvo said he was amazed by Kelly Perkins’ prowess.

“At the beginning, I was a little concerned, but then I saw her start to climb and it surprised me how well she climbed. She is impressive. I didn’t feel she was any different from anyone else,” he said.

Calvo also said Craig Perkins was instrumental to the team’s success.

“These two have an attitude about life that is just incredible,” the guide said. “He takes such great care of her, and they just give off really great vibes.”

The climbers tested their teamwork in warmup climbs, discarding one attempted route as too dangerous because of loose rock. They ultimately settled on a sheer mountain face with a difficult route up hundreds of yards of rock face roughly shaped like the letter “C.”

Perkins said the “C” route reminded her of the word “corazon” _ Spanish for “heart” _ and she led the initial ascent.

“We found a line and made a way up the best we could,” she added, noting chunks of rock broke off easily and every toehold and fingerhold had to be taken with extreme care.

Craig Perkins, who has given his wife a gold charm for every major mountain climbed since her transplant, gave her another atop the “Charmed Heart” route _ this one of a woman mountaineer leaping for a peak and grabbing it by one hand. A tiny sparkling ruby represents her heart.

Craig Perkins said he hopes his wife’s accomplishments encourage others who have gone through life-changing surgery or organ transplants to not give up.

“Kelly had a heart transplant on Nov. 20, 1995. A little over a decade later and she’s opening new routes and doing some amazing things you’d never expect,” he said. “Even after a transplant you can be a very, very strong person, and Kelly is a prime example of that.”

Asked what mountain she’ll target next, Perkins said she hasn’t thought that far ahead. But she added, “I’m going to keep on going as long as I can. … I’m going to go as long as my body will let me.”

 

New York Times Examines Potential Effect Of Michael Moore Documentary About Problems With Health Care Industry On Health Care Debate

Friday, May 25th, 2007

The New York Times on Tuesday examined how some health insurance industry officials and policy experts are saying that Michael Moore’s new documentary “Sicko,” which chronicles the U.S. health care industry, “taps into widespread public concern that the system does not work for millions of Americans.” The film, which premiered at the Cannes Film Festival on Saturday, “received many favorable reviews,” according to the Times.

http://www.ahip.org/ President Karen Ignagni said that the film might encourage the government to provide more funding for health care for the uninsured. Ignagni said, “If the movie results in members of Congress and governors putting this issue squarely on the table as the No. 1 priority, we will be part of that discussion and will welcome it.”

Stuart Altman, dean of the http://heller.brandeis.edu/ at Brandeis University, said accounts such as those that appear in the film of insurance companies denying people coverage for medical care “make people furious.” However, he questioned whether the film would have a significant effect on policy. He said U.S. residents “hate the system — it’s too expensive — but we have been hearing about these things for 35 years.” Altman added, “Unless we have a meltdown which affects the middle class — that is nowhere near happening — we will not be willing to fundamentally restructure the system.”

Uwe Reinhardt, a health economist at http://www.princeton.edu/main/, said that based on early reviews, the film is “exaggerated, biting, unfair,” but he noted that several recent books and articles on the U.S. health care system by academics have been equally critical. Reinhardt said he believes “we are on the verge of a populist reaction to the health system,” adding, “The American people are on the point of being fed up.”

Moore after the film’s premiere discussed his thoughts on the U.S. health system. He said, “Let’s be honest, no one’s going to support dismantling the private health care system. I don’t think the insurance companies are just going to give up the profit motivation.” The documentary makes its U.S. debut on June 29 (Freudenheim, New York Times, 5/22).

Broadcast Coverage
CNN’s “http://www.cnn.com/CNN/Programs/situation.room/” on Monday reported on the film. The segment includes comments from Moore (Costello, “The Situation Room,” CNN, 5/21). A transcript of the segment is available http://transcripts.cnn.com/TRANSCRIPTS/0705/21/sitroom.02.html. CNN’s “http://www.cnn.com/CNN/Programs/paula.zahn.now/” on Monday also reported on the film. The segment includes comments from Moore (Anderson, “Paula Zahn Now,” CNN, 5/21). A complete transcript of the program is available http://transcripts.cnn.com/TRANSCRIPTS/0705/21/pzn.01.html.

“Reprinted with permission from http://www.kaisernetwork.org. You can view the entire Kaiser Daily Health Policy Report, search the archives, or sign up for email delivery at http://www.kaisernetwork.org/dailyreports/healthpolicy. The Kaiser Daily Health Policy Report is published for kaisernetwork.org, a free service of The Henry J. Kaiser Family Foundation . 2005 Advisory Board Company and Kaiser Family Foundation. All rights reserved.

 

 
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