Categories
Education

Another Financial Crisis Eminent – Big Data and Machine Learning Won’t Help

Even after being hit hard by a financial crisis a decade ago, the financial markets have managed to stay in the loop. To be precise, the stock markets have consistently achieved new peaks while volatility levels are quite low than before.

Technological advancements and innovations in the financial industry have led to key players adopting computational algorithms and big data. These two have been enabled to a greater extent by machine learning. This however, has led to many questions regarding potential financial risks.

The risk faced by key players in the financial markets today is the failure to understand the extent to which technology advancement is or is not reducing financial uncertainty. In the concept of irreducible uncertainty; John Maynard Keynes was able to differentiate between incidents one can reasonably calculate probabilities for and those which remain fundamentally unknown. This, however is not the case with players in finance industry as they have not been able to determine this fine line.

Therefore, the main concerns are the numerous alarming parallels that exist between the contemporary development in machine learning and algorithmic trading and the massive growth of financial engineering before the crisis. Secondly, big data and an advanced computing power is not a guarantee that these players will shake off financial risks.

In the 20th and early 21st century, so much was done by the most intelligent minds to subdue financial uncertainty. Businesses were built by mathematical tools generated by derivative desks, hence increased profits and high investment returns. It was a time of booming entrepreneurship with advanced probabilistic modeling and unrivalled computational power. The New Yorkers so thought that they were on the right track.

We may be at risk of repeating the past: “quant delusion” where many modeling speculations like correlations between asset prices were found to be extremely faulty while foundational basis of quantitative finance collapsed. The quants had recklessly generated a set of possible outcomes and calculated conditional probabilities of incidents; subjective to how they had known the world. These decisions were revealed to be illogical once impossible incidents occurred.

With all these contemporary advancements in the financial markets, we are able to explore enormous possible outcomes. However, let’s not forget to ask ourselves to what degree our calculated conditional probabilities differ from actual probabilities?

Categories
Environment

Human Infection of Rat Disease Brings Disturbing Questions on Hong Kong’s Rodent Problem

Rodent infestation in Hong Kong has earned public concern over recent reports that a rat disease has infected a 56-year-old man, becoming the “world’s first ever human case of the rat version of the hepatitis E virus,” reports said.

“We don’t know if in future there will be a serious outbreak of the rat Hepatitis E virus in Hong Kong. We need to closely monitor this issue,” Professor Yuen Kwok-yung, a professor and microbiologist at the University of Hong Kong, said in a report.

MedicalXpress said rodent problems has recently escalated in Hong Kong following its “sustained spell of hot and humid weather.” Both residents and tourists are concerned over the reports as thousands have died both in China and Hongkong due to the bubonic plague back in the 19th century.

“This study conclusively proves for the first time in the world that rat HEV can infect humans to cause clinical infection,” the University of Hong Kong said in a report.

Hong Kong authorities, however, said there is no need to panic at this stage. Still, medical experts have renewed their calls to improve environmental and personal hygiene in Hong Kong as the “first human infection of the rat hepatitis E virus took place in Hong Kong should prompt extra vigilance from everyone.”

According to reports, the 56-year-old man has had a liver transplant and may have contracted the rat form of the Hepatitis E virus after eating food that may has been contaminated with rat droppings.

EuroNews said the man received anti-viral treatment and is now cured.

South China Morning Post, in a report earlier this year, said rodents also carry other viral, rickettsial and bacterial diseases.

“The causative agents can enter the human body via fleas, ticks and mites, through food or water contaminated by rodent waste, or through rat bites. Common rodent-borne diseases include the plague, urban typhus, spotted fever, scrub typhus, hantavirus infection and rat-bite fever,” the report said.

South China Morning Post said, “we hope Secretary for Food and Health Sophia Chan Siu-chee means business with her pledge to step up efforts to ensure no repeat of infections.”

Categories
Business

“If Tariffs Are Imposed on Automotive Industry it will Negatively Affect the US Economy”, Senate Committee Says

Last Wednesday was a tedious day for the senate finance committee. This is because the proposed amendments to impose tariffs to the automotive sector has spiked a lot of concern from the US citizens and the automotive industry. This bill was brought up by Senators Rob Portman and Sherrod Brown. During the committee hearing, the legislative director of the automotive industry in US Josh Nassar was present.

Josh said, “The bill by Sherrod Brown has good intention to keep automotive jobs in the United States.” When in discussion senator Brown said that he is not supporting General Motors verdict to stop the construction of its plant in Lordstown but they are in plans to go to Mexico to construct a new Chevrolet Blazer. This later led to questions by Sherrod who asked Nassar if General Motors plans is an evidence that our policies don’t encourage US-based automotive industry.

If this bill is signed into law then the American cars, American Jobs Act will have the automotive industries give their customers a $3,500 discount on every one car out of 100 cars that they produce. This senate meeting came days after Rob Portman met with Mary Barra the CEO of General Motors. The meeting by Rob and Mary was to convince her to invest more in the plant in Lordstown but she was not up for any of Rob’s persuasions.

Later Rob said that the meeting with Mary didn’t bear any fruits and was rather discouraging. According to Orrin Hatch, the senate finance committee chairman said, “If any tariffs are imposed on the automotive industry which contributes to 3% of Americas GDP it will negatively affect the economy.” In addition, during the meeting, Senator Rob also highlighted the negative effect of the misuse of section 232 of the trade expansion act of 1962 to the automotive industry in the US.

Automotive industries such as Honda that is based in Ohio has backed the Trade Security Act this was said by Rob. The executive vice president of Honda North America Rick Schostek said, “This bill will help shade light to how tariffs are applied,” He said this during the Finance committee hearing. He added that his auto industry is contributing positively to the US economy.

Another person who wanted clarification about this controversial bill was Michael Haughey the president and CEO of North American Stamping Group. This is after he had issues on a tariff that is to be imposed to the automotive industry will affect the price of vehicles. This issue was addressed by Portman. Furthermore, Haughey said that the price of a car will increase by averagely $2,000.

Categories
Environment

Neutrophil Extracellular Traps Produced during Inflammation Awaken Dormant Cancer Cells in Mice

A process where dormant cancer cells can be activated back to life has been discovered bringing in the idea of a new diagnosis technique meant to treat cancer completely without leaving any traces of its cells whether dead or inactive neither giving room for the development of secondary malignant growths at a separate site from the primary site of cancer.

If the dormant cells are activated back to life, they can multiply be developing into vast metastatic tumors. Sustained lung inflammation not to forget that brought about by exposure to tobacco smoke results to dormant breast cancer and prostate cancer cells that move along to divide within the lungs. These cells grow and spread in the lungs from one tumor cancer cell thus increasing their fatality.

A research team led by Mikala Egeland revealed a way of blocking the stages that activated the inactive cancer cells, an idea that could prevent cancer mitosis or at least reduce its frequency. They revealed that inflammation of the lung as a result of mice being exposed to tobacco smoke-induced defense cells known as neutrophils to activate close dormant cells in a splendid way.

Two enzymes: green dots and red dots sequentially produce a protein called laminin-111 in lung tissue bringing a signal that activates dormant tumor cells making them multiply the seed that could probably result to be a metastatic tumor according to the research made by Egeland lab in conjunction with cold spring harbor laboratory.

Neutrophils, which we usually use to exterminate bacteria and yeast, have a few ways of killing their prey. Among them is to push out their DNA into the space outside the cell membrane. Mixed with toxic enzymes, the expelled DNA forms a hazy trap that is capably vanquishing a pathogen.

The latest research shows that maintained lung inflammation causes Net-formation within the inactive tumor cells. The Net has two enzymes called Neutrophil elastase and Matrix Metalloproteinase 9 which interact with Laminin. The direct interaction of inflammation and net formation lead to the activation of dormant tumors cells if they are in the adjacent vicinity-one mechanism of metastasis.

Categories
Technology

Internet Provider Groups Suing California over Net Neutrality Law

Four business teams representing major net suppliers and cable firms filed suit on Wednesday seeking to dam California’s new law to mandate net neutrality rules.

The teams represent firms as well as AT&T Inc, Verizon Communications Inc, Comcast Corp, and Charter Communications Inc. The proceeding came when the U.S. Department of Justice on Sunday filed its own proceeding to dam the new law.

The proceeding filed by the Yankee Cable Association, CTIA – The Wireless Association, NCTA – the net & tv Association and USTelecom – The Broadband Association, known as California’s law a “classic example of unconstitutional state regulation” and urged the court to dam it before it’s set to require result January 1.

U.S. professional person General Jeff Sessions same on Sunday Associate in Nursing exceedingly|in a very} statement that the “the CA assembly has enacted an extreme and illicit state law making an attempt to frustrate federal policy.”

This marked the most recent clash between the Trump administration and CA, that have sparred over environmental, immigration and alternative hot-button problems.

In December, the Federal Communications Commission same in repealing the Obama-era rules that it had been preempting states from setting their own rules governing net access.

California professional person General missionary Becerra stated on Sunday the Trump Administration was ignoring “millions of Americans United Nations agency voiced strong support for net neutrality rules.”

The Trump administration rules were a win for net suppliers however opposed by firms like Facebook Inc, Amazon.com Inc and Alphabet Inc.

Under President Donald Trump, the FCC voted 3-2 in Dec on party lines to reverse rules that barred net service suppliers from obstruction or choking traffic or providing paid quick lanes, conjointly called paid prioritization.

In August, twenty-two states and a coalition of trade teams representing major technical school firms urged a federal court of appeals to reinstate the principles. The states argue that the FCC cannot preempt state rule as a result of it’s not setting any limits on conduct by net suppliers.

A federal judge on Monday set a November. 14 hearing in Sacramento on the Justice suit.

Categories
Politics

Village Pitched ’empty-nester’ Projects for Newark-Granville Road

This is an Institution which deals with projects and it has two development projects at hand now one for medical and the other one is for residential community which would need annexation from Granville township to the village.

The president and the CEO of the organization made a presentation to the council of a proposed medical facility. He said that the $5.3 million orthpedics and sports facility would bring significant health care to Granville and would also be a potential sports medicine provider for Granville and other area student athletes.The CEO also said that they are working so hard to make the organization not to look like an institution. He also added that the project has recent planning approval from commission of building and was reduced from two storey to one and has been given a new look of rural view with more natural lights.

While addressing council`s increasing concerns about mounting traffic  and development impacts, he noted that patient traffic would be staggered by nature itself and release arrivals of staff concerned with designs. This health project is being opposed by a residential plan where most people prefer the residential building compared to the health one.This drew more concerns and while addressing the concerns the CEO said that bringing up a residential would mean that one car will be added into the traffic after every 5 minutes and that thee two-bedroom apartment would mean restrictions to ensure the resulting units conform and fit to the stated plans.

The main objective of this project is to reach a CEDA that would layout terms and guidelines for an effort to dedicate Ohio 16 corridor for research and technology. It was agreed between stakeholders and the locals that the government must determine it`s `must haves` and `cant`t have in the agreement and come into a common agreement between locals and the investors.

In a meeting of board of education, it was agreed to have a commercial plan working there instead of residential plan. The discussions and debate about what shall be brought up as the final project is still on going and a final decision has not been arrived at.