first_imgThe 11th fossil of Archaeopteryx, found in German limestone, has dished up some surprises that finish off the old evolutionary icon.It’s big news when a new exquisitely-preserved specimen of the world’s most famous (and beautiful) fossil—Archaeopteryx—is discovered.The famous Archaeopteryx fossils were listed as No. 5 in Jonathan Wells’ 2000 critique of Darwin evidences, Icons of Evolution.  At the time, eight specimens of Archaeopteryx were known; one was just a feather, and one had been lost.  The Berlin specimen was the best; the “London” specimen (because it ended up in London’s Natural History Museum) was the next best.  All had been found in Solnhofen limestone in Germany.  While Archaeopteryx had modern-looking flight feathers, it also possessed unique traits, like a scaly head, teeth, wing claws, and a long bony tail.  Wells argued in 2000 that Archaeopteryx could not be an ancestor to modern birds, because it appears too early in the fossil record.  It also provided no help to evolutionists about the origin of flight.  It must have been, therefore, a member of an extinct lineage of birds.  The missing link that was once Archaeopteryx, therefore, was still missing, he ended.Not until more recent years were so-called “feathered dinosaurs” found in China (dated before and after Archaeopteryx) to expand and complicate the ecology of extinct birds and their alleged evolutionary ancestry.  The story of Archaeopteryx itself has evolved in the interim.  Now it is no longer considered a transitional form (1/16/13).  Some suggest it devolved from a flying bird (11/12/13).Analysis of specimen #11 was reported by Nature today (the authors are not aware of the provenance, [date and location], of the specimen, since it came from a private collection).  So what does the new specimen show about the old icon?  One new finding involves feathers on the legs that they dub “feather trousers.”  Asymmetric pennaceous feathers are usually diagnostic of flight; strangely, this specimen’s tail feathers are asymmetric, but the wing feathers and “feather trousers” are symmetric (whereas on Microraptor gui, the leg feathers are asymmetric).  The plumage dismisses an evolutionary speculation that flight evolved first in bi-plane fashion, on a glider such as Microraptor gui, then as powered flight.  Here’s the new interpretation from the abstract:Here we describe a new specimen of Archaeopteryx with extensive feather preservation, not only on the wings and tail, but also on the body and legs. The new specimen shows that the entire body was covered in pennaceous feathers, and that the hindlimbs had long, symmetrical feathers along the tibiotarsus but short feathers on the tarsometatarsus. Furthermore, the wing plumage demonstrates that several recent interpretations are problematic. An analysis of the phylogenetic distribution of pennaceous feathers on the tail, hindlimb and arms of advanced maniraptorans and basal avialans strongly indicates that these structures evolved in a functional context other than flight, most probably in relation to display, as suggested by some previous studies. Pennaceous feathers thus represented an exaptation and were later, in several lineages and following different patterns, recruited for aerodynamic functions. This indicates that the origin of flight in avialans was more complex than previously thought and might have involved several convergent achievements of aerial abilities.The authors’ cladogram shows a confused mess.  There is no longer a single line of feathers leading to flight; instead, there are mosaics of traits appearing here and there but not over there.  Microraptor gui is shown as the first creature with asymmetrical feathers (indicative of flight) and an alula (helpful in low-speed flight), but Archaeopteryx lacks the alula.  Because the story is “more complex” now, the new interpretation is that pennaceous feathers and flight must have evolved several times by “convergent evolution.”Pennaceous feathers appear in no particular evolutionary order.  “Based on these results,” the authors state, “the evolution of pennaceous feathers is generally decoupled from the origin of flight and might be related to other biological roles.”  Were they for insulation?  camouflage?  sexual display?  brooding?  balance?  Whatever happened, the authors reject the idea that four-legged gliding preceded two-winged flight:Although some taxa possess prominent feather trousers, an initial aerodynamic function, as previously hypothesized, can be rejected because the presence of this character is extremely variable within Paraves, and elongated hindlimb feathers were usually restricted to the tibia and are symmetrical in shape. Thus, probably non-volant taxa such as Anchiornis or Xiaotingia might have used these feathers for display, breeding or other functions. The display function might be supported by the finding of complex colour or iridescent patterns in hindlimb feathers. Archaeopteryx might have used its ‘trouser’ additionally as a vertical plane during landing, similar to recent raptors. Only for Microraptor does an improved aerodynamic adaptation of the trousers seem plausible, as indicated by the triangular shape of the trousers and the asymmetrical shape of the feathers. These results contradict the hypothesis that the flapping flight of modern birds was preceded by a four-winged gliding stage, and indicates that flight ability in Avialae [the lineage containing Archaeopteryx] and Microraptor evolved convergently and was functionally different.The best tale they can invent is that feathers evolved early, and were put to use in flight and non-flight uses by different lineages via “convergent evolution.”  In Darwin jargon, the feathers were “repeatedly, and probably convergently, recruited for aerodynamic functions.”   That makes it sound so easy.  What about all the other physiological changes for flight?  (See documentary Flight: The Genius of Birds for details.)This indicates that the origin and evolution of flight in theropod dinosaurs were more complex than previously thought, and (as already shown for other anatomical complexes, for example forelimb myology and breathing apparatus) could draw on structures that evolved in different functional contexts.In short, “flight” was able to “draw on” structures that had already “evolved in other functional contexts.”  They seem to be suggesting that feathers are just one of many structures that first had some other function that was “recruited for aerodynamic functions” by “convergent evolution” in unrelated lineages.  This is “co-option” on steroids.  What would be the alternate functions, though, for a flow-through lung system, redesigned muscles, redesigned digestive and excretory systems, redesigned brain, new navigation abilities, and all the other bird-specific anatomical traits, if not for flight?In short, it’s going to be a lot harder to illustrate the origin of flight in textbooks from now on.How are the news media spinning this re-interpretation of Archaeopteryx?Dinosaur-Era Fossil Shows Birds’ Feathers Evolved Before Flight (National Geographic); An ancient bird ancestor from the dinosaur era sported feathers, but couldn’t fly.”  Mark Norell is quoted: “It’s very hard to say feathers evolved for any one reason.”  Senior author Oliver Rauhut told NG, “Once pennaceous feathers had evolved, early feathered dinosaurs could have relied on them to eventually fly.”Flight may have evolved multiple times in birds (Science Magazine). “The discovery raises the intriguing prospect that flight may have developed multiple times in the ancestors of birds.”Early bird Archaeopteryx ‘wore feather trousers’ for display (BBC News). Dr. Rauhut contradicts National Geographic; he told the BBC News, “I’m pretty sure it could fly. Though of course there is still a debate about how well it could fly.”National Geographic‘s artistic reconstruction of the animal looks pretty birdy: something like a roadrunner without a beak.  Mark Norell thinks it flew, but poorly, like a turkey or something similar.  Even so, nobody calls turkeys or roadrunners non-birds or transitional forms.  Archaeopteryx was a bird, albeit a strange one.Does anybody care at this point that the authors prefer the “ground-up” (cursorial) theory of flight instead of the “tree-down” (arboreal) theory?  Where’s WAIR?  Calling all storytellers!  Dial Ken pronto (6/25/14).We like it when more data come in.  They usually have the effect of toppling icons of evolution.  Archaeopteryx was a good example.  The first specimen was discovered two years after Darwin published the Origin of Species, and was widely hailed as a transitional form confirming Darwin’s theory.  It would be nice to see the expression on his face if he saw the icon topple 150 years later.  It would be like getting two turkeys for the price of one. 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first_imgA global plastic waste crisis is building, with major implications for health and the environment. Under its so-called “National Sword” policy, China has sharply reduced imports of foreign scrap materials. As a result, piles of plastic waste are building up in ports and recycling facilities across the United States. In response, support is growing nationally and worldwide for banning or restricting single-use consumer plastics, such as straws and grocery bags. These efforts are also spurred by chilling findings about how micro-plastics travel through oceans and waterways and up the food chain. I have studied global trade in hazardous wastes for many years and am currently completing a book on the global politics of waste. In my view, today’s unprecedented level of public concern is an opportunity to innovate. There is growing interest in improving plastic recycling in the United States. This means getting consumers to clean and sort recyclables, investing in better technologies for sorting and reusing waste plastics, and creating incentives for producers to buy and use recycled plastic.RELATED ARTICLESJob-Site Recycling: PVCPlastic Production Rises But Recycling Can’t Keep UpChinese Decree Alters Recycling PictureRecycling Vinyl Siding Critiques of recycling are not new, and critiques of recycling plastic are many, but I still believe it makes sense to expand, not abandon, the system. This will require large-scale investment and, in the long term, implementing upstream policies, including product bans. Easy to use, hard to destroy Plastics make products lighter, cheaper, easier to assemble, and more disposable. They also generate waste, both at the start of their life cycles — the petrochemicals industry is a major source of pollution and greenhouse gas emissions — and after disposal. The biggest domestic use by far for plastic resin is packaging (34% in 2017), followed by consumer and institutional goods (20%) and construction (17%). Many products’ useful lives can be measured in minutes. Others, especially engineered and industrial plastics, have a longer life — up to 35 years for building and construction products. After disposal, plastic products take anywhere from five to 600 years to break down. Many degrade into micro-plastic fragments that effectively last forever. Rather like J.R.R. Tolkien’s One Ring, plastics can be permanently destroyed only through incineration at extremely high temperatures. Why the U.S. recycles so little plastic Less than 10% of discarded plastics entered the recycling stream in the United States in 2015, compared with 39.1% in the European Union and 22% in China. Another 15% of U.S. plastic waste is burned in waste-to-energy facilities. The remaining 75% goes to landfills. These figures do not include any dumping or illegal disposal. Even the most easily recyclable plastics have a lengthy journey from the recycling bin to their final destinations. Many barriers have become painfully apparent since China, which until recently accepted half of all U.S. plastic scrap, implemented its crackdown on March 1 of this year. First, there are many different types of plastics. Of the seven resin identification codes stamped on the bottom of plastic containers, only 1s and 2s are easily recyclable. Public education campaigns have lagged, particularly with respect to cleaning and preparing plastics for recycling. Getting consumers to commit to more stringent systems is critical. But scolding can backfire, as experience with food waste shows. Another factor is U.S. reliance on single-stream recycling systems, in which all recyclables are placed in the same receptacle. This approach is easier for consumers but produces a mixed stream of materials that is difficult and expensive to sort and clean at recycling facilities. The United States currently has 633 materials recycling facilities, which can clean, sort, and bale a total of 100,000 tons of recyclables per day. Today they are under growing pressure as scrap piles up. Even before China’s restrictions went into effect, materials recycling facilities operators threw out around half of what they received because of contamination. Most are not equipped to meet China’s stringent new contamination standards, and their processing rates have slowed – but garbage production rates have not. Finally, since China was the U.S. plastic scrap market’s main buyer, its ban has eliminated a key revenue stream for municipal governments. As a result, some waste collection agencies are suspending curbside pickup, while others are raising prices. All 50 states have been affected to some extent. There are no silver bullets Numerous public and private entities are working to find a more viable solution for plastics recycling. They include plastics producers and recyclers, corporations such as Coca-Cola, colleges and universities, foundations, international organizations, advocacy groups, and state governments. Upgrading materials recycling facilities and expanding domestic markets for plastic scrap are obvious priorities but will require large-scale investments. Increasing waste-to-energy incineration is another option. Sweden relies on this approach to maintain its zero waste model. But incineration is deeply controversial in the United States, where it has declined since 2001, partly due to strong opposition from host communities. Zero-waste and anti-incineration advocates have heavily criticized initiatives such as the Hefty EnergyBag Program, a recent pilot initiative in Omaha, Nebraska, to divert plastics to energy production. But small companies like Salt Lake City-based Renewlogy are working to develop newer, cleaner ways to convert plastics to energy. Efforts to cut plastic use in the United States and other wealthy countries are focusing on single-use products. Initiatives such as plastic straw and bag bans build awareness, but may not by themselves significantly reduce the problem of plastic trash. For example, plastic straws account for only 0.03%  of the plastic that is likely to enter the oceans in any given year. Industry is starting to push back, with corporations like McDonald’s resisting straw bans. Some U.S. states have passed measures forbidding plastic bag restrictions. To stem ocean plastic pollution, better waste management on land is critical, including steps to combat illegal dumping and manage hard-to-recycle plastics. Examples include preventing BPA leaching from discarded products, dechlorinating polyvinyl chloride products, on-site recycling of 3D printer waste, and making virgin-quality plastic out of used polypropylene. The European Union is developing a circular economy platform that contains a multi-part strategy to increase plastics recycling and control waste. It includes making all plastic packaging recyclable by 2030 and reducing leakage of plastic products into the environment. The United States is unlikely to adopt such sweeping policies at the national level. But for cities and states, especially those where support for environmental protection is strong, it could be a more attainable vision. Kate O’Neill is an associate professor of global environmental politics at the University of California, Berkeley. This post originally appeared at The Conversation.last_img read more

first_imgA man was arrested in Bettiah town of West Champaran district in Bihar on Tuesday for allegedly running a pro-Pakistan group on social media and disturbing communal harmony.Police said Saddam Quraishi, 22, was arrested from Nazni chowk in Bettiah for running a WhatsApp group called ‘Pakistan Zindabad’. The police also seized the mobile phone he allegedly used to administer the group. Mr. Quraishi is a resident of the Sant Ghat area of the town.“Saddam Quraishi was arrested on the charge of disturbing communal harmony and conspiring to disturb the unity and integrity of the country,” saidShri Ram Singh, the SHO. West Champaran Superintendent of Police Jayant Kant confirmed thearrest, saying some local people had complained against Mr. Quraishi and the WhatsApp group he was running. “Following the complaint police conducted an inquiry and found it to be true. Quraishi was arrested and sent to jail under relevant sections,” Mr. Kant said.last_img read more

first_imgHis father was a poet, so is his elder brother, but Sachin Tendulkar feels that he is born only to wield the willow and not the pen.”I haven’t done that (writing) till now. I think God has given everyone some talent or the other. You have to appreciate the talent you get. I don’t think I can create something of that level. I just have to sit back and appreciate that,” Tendulkar said at a press conference here.”Like my brother said earlier…He had to leave cricket for me. I have to leave something for him,” he said referring to the comment made by his elder brother Nitin Tendulkar, who said that since he had to sacrifice his cricket for Sachin, he chose poetry.The champion batsman held the press conference to inform that a CD of the poems written by his late father, Ramesh Tendulkar, and a book of poems written by his brother Nitin, will be launched later this week.Asked whether he was thinking of writing an autobiography, Tendulkar said,”Never thought about it. Never had time to think about it….maybe someday, if I feel like.”To a query, Tendulkar, who is reportedly a favourite to get the’Bharat Ratna’ this year, said winning India’s highest civilian honour is a dream of every countryman.”Every Indian would like to be honoured by the country.It is the biggest dream when your contribution is appreciated.But we are here for a specific reason, so I would not like to dwell too much on the topic,” he added.advertisementTendulkar, who holds the world record for scoring the maximum number of centuries in Tests and limited overs cricket, recalled how he reached the landmark 50th ton at Centurion against South Africa, a day after his father’s birthday. .”When I scored my 50th hundred, the first thought that came to my mind was had my father been alive. I got my hundred on December 19, and my father’s birthday was on the 18th. I wanted to do it for him. And I achieved it,” Tendulkar said.”When I score a hundred I thank god for the century, for giving me all the opportunities,” he added.The 37-year-old cricketer said that among the many things that he learnt from his father, he would like to teach his children to be ‘good-natured’.”If a man’s nature is good, he is always liked by people around him. Whether you perform well or not in the cricket is a different thing and your nature is a different thing.”My father had given me the advice that your nature will be always with you. If you can become a good-natured person, that will stay with you forever and people around you will like you irrespective of whether you make runs or not. This is something I would want to teach my children,” he said.”I joined Kirti college, Ramakant Acharekar Sir being a coach there was one of the reasons. (In those days) I got to travel with my father a lot. Sometimes I dropped him en route to practice. That time I got the advice that in life everything is temporary, everything has a deadline. The only thing that does not have a deadline, is your nature. So you should ensure that it is always good. I’m just trying to follow that,” Tendulkar said.Stating that the death of his father during the 1999 World Cup was a great loss, Tendulkar recalled how his mother persuaded him to return to England to continue playing.”I always felt the loss. It is a permanent. Nothing can replace him. But I know he is still there guiding me. His hand is there in all the decisions I take.”I think, that phase in my life was most difficult. And at that stage mother said that ‘if after his (father’s) demise, you don’t play cricket and stay here, what could be worse than that? You have to go and play for the country’,” the master batsman said.Asked what he had in mind for his son Arjun, Tendulkar said, “It is his life. He has to decide what he wants to become. If I had tried to do other things I wouldn’t have reached here. Arjun should do in life what he wants to, something that he has passion for.”Tendulkar also recalled an anecdote about a camp, headed by Vasu Paranjpe that he had attended during his U-15 days.”I had attended U-15 camp in Indore for a month. Vasu Paranjpe sir was heading it. It was great fun. But on the second day itself the watchman complained the boys practised till 2 at night, troubling others (in the neighbourhood). To this Paranjpe said, “Arre, then why didn’t you go and field?”advertisementNitin Tendulkar said he was inspired by Marathi poets like Govind (“Vinda”) Karandikar, Vasant Bapat, and Mangesh Padgaonkar.”I had read a lot of their work in my childhood, and wanted to write like them. My father understood my feelings and in 1982 ‘Pavsaala’ (rains) was published,” he said.”Since childhood, cricket and poems have been my two passions. But while Sachin turned to cricket, I chose poems,” he added.Asked about his younger brother’s best knock, Nitin said Tendulkar’s unbeaten 140 against Kenya in the 1999 World Cup was probably his best.”It was his 1999 World Cup innings. Father had died, Sachin had returned and everyone was shocked. Because of mother, he went back. I feel his knock against Kenya was his greatest. To hit a century with that frame of mind, its unbelievable,” he added.- With PTI newslast_img read more

first_imgAdvertisementThe Houston Rockets star and center Clint Capela have agreed to a five-year contract extension according to Yahoo Sports Shams Charania. Capela was selected by Houston with the 25th overall pick in the 2014 NBA Draft.He was runner-up for the NBA’s Most Improved Player award this past season after averaging career-highs of 13.9 points, 10.8 rebounds, and 1.85 blocks.  Capela led the league in field goal percentage (.652) while ranking eighth in rebounding and second in blocks.Capela had the option of signing a $4.3-million qualifying offer that would have seen him become an unrestricted free agent following the 2018-19 campaign. But Capela, who was a restricted free agent, is set to earn $90 million over the course of the deal.Sources: Clint Capela’s deal to return to the Rockets is five years, $80M guaranteed — with $10M in incentives.— Shams Charania (@ShamsCharania) July 27, 2018Houston Rockets Star James Harden said:“I’m happy for [Capela],” Harden told reporters on Friday at USA Basketball training camp in Las Vegas. “Obviously we love the game of basketball, but to be able to provide for your family for generations, that’s what we do it for. I’ve seen him work his butt off these last few years. He listens. He learns. He goes out there and competes. I’m happy for him.” Advertisementlast_img read more

first_imgBeing a referee in any sport often presents many challenges, especially if you are a female referee officiating men in sport.  For referees Louise Frost and Annabelle Connolly however, the challenge isn’t a problem. “From a players perspective sometimes I think they think they have it over you,” Frost said. “But if you show you’re confident then its fine. I’ve had no problems at tournament level, it’s more at park level that you sometimes have problems.”Connolly agrees that at the Opens tournament level, things run fairly smoothly. “When I was 16-17 and refereeing the Mens 30s and older guys sometimes it was a problem,” Connolly said. “But now things are pretty good.”Both Frost and Connolly among eight of the female referees here at the NTL Opens/20s.Connolly, a level six, recently represented Australia at the World Cup, and experience which she describes as “brilliant”.“I didn’t find out I was going until September – which was a fairly late call up,” Connolly said.“It was my first time overseas and it was brilliant. If you got the Australia or New Zealand games it was really high standard. Some of the other games were big score-lines like 20-nil, which is a lot different to what you get here at the NTL.”The 27-year old from WA has been officiating Touch for the past 11 years, and hopes to again represent at the international level.“My goal is to be part of the Youth World Cup, and then the next World Cup in 2011,” she said.“I had a fantastic time and made so many friends overseas, that was the best part, and it was completely different to what I expected.”Frost, 24, refereed at her first major tournament in 2004. Like Connolly, her goal is also to referee at the international level, and currently a level four she is hoping to upgrade to level five at the NTL. “Obviously the ultimate goal is to get my level 6 and to Referee at the World Cup in Scotland in four years time.”The schedule to referee three-to-four games a day at the Opens NTL will be a test for Frost, who is still recovering from damaged knee cartilage, which will be operated on following the tournament.“I’m having the op in a couple of weeks on my knee, and then I will be off for six months,” Frost said. “After that I will be trying to get fit again, and hopefully the knee will be fixed and won’t cause any more problems.”Sharing a room at the NTL, they say the female referees often “stick together”.“The girls do tend to stick together, you definitely do get the feeling of being in the minority, but you tough it out,” Connolly said.“We like to give it to the boys, but you always get it back!”last_img read more

first_imgDuke basketball coach Mike Krzyzewski speaking at Fan Town Hall.Twitter/@duke_athleticsMike Krzyzewski is 68 years old, but coming off of the 2015 national championship, don’t expect the Hall of Famer to hang up his whistle in the near future. When asked about any potential retirement plans, Coach K had a simple answer: he doesn’t have any.“I have no thoughts on retiring right now.” -Coach K #FanTownHall pic.twitter.com/oIX80NPU5i— Duke Athletics (@Duke_ATHLETICS) July 2, 2015We don’t think Coach K can coach forever, but the way he’s been recruiting, it wouldn’t be wise to doubt him.last_img read more

first_imgCANSO, N.S. – A researcher says Canada’s first proposed spaceport in Canso, N.S., is a potential threat to migratory birds.John Kearney, an adjunct professor at Dalhousie University, says he’s concerned that lighting at the $200-million site could confuse birds and delay their migration.“When you put lights in such a place, birds are attracted to those lights and recent studies have shown that they can have quite a strong impact on birds’ migratory behaviour,” Kearney said in an interview.“It can result in them flying around the lights to the point of exhaustion. In some cases they can collide with whatever structure is supporting the light,” he said.In a blog post this month, Kearney said he also thinks there could be a loss of stop-over and breeding habitat for a number of bird species including the whimbrel and the willet.Maritime Launch Services Ltd. wants to start construction next year on a launch site that could eventually see as many as 12 satellites blast into orbit per year.Stephen Matier, president of Maritime Launch, said Kearney has never contacted his company to express his concerns or learn details of what the company is planning.“I don’t really understand what his concerns are. How can you even have issues or concerns without having some understanding what the project is actually doing or planning as far as night lighting or what have you?” Matier said from his office in New Mexico.Matier said one of the reasons the site was chosen was because previous environmental assessments done for a neighbouring Canso wind farm showed no issues for migratory birds.“We based part of our decision to go forward for this launch site based on the fact it had all these other studies that were done. They looked at moose, they looked at bats, they looked at migratory birds,” Matier said.Kearney said the neighbouring wind farm actually complicates the situation, because birds could hit the spinning turbines if they are drawn to lights nearby.But Matier said there have been very few bird kills at the wind farm since it opened.“I think there’s like half a dozen in two years, so it’s not like there’s any major issues that have come about as a result of the wind farm,” Matier said.He said his company is doing its own studies and hopes the province will approve an environmental assessment plan early next year.Maritime Launch Services is aiming for a first round of launches in 2021 and 2022.During a news conference in Halifax last week, officials said each launch of the Cyclone-4M medium lift rockets would take up to two minutes, and from three kilometres away would sound no louder than a commercial aircraft.The project is a private-sector venture, but will require the province’s environmental approvals and further regulatory approvals for launching procedures.— By Kevin Bissett in Fredericton.last_img read more

first_imgTORONTO – Canada’s main stock index closed down despite a rising crude oil price and strong performance from gold and metals stocks a day after Barrick Gold Corp. announced a deal to buy Randgold Resources.“We think the Barrick Randgold merger announced yesterday probably woke up some interest in the gold sector,” says Patrick Bernes, a portfolio manager for CIBC Asset Management.Base metals led the TSX, gaining about one per cent, following by the health-care, gold materials and industrials sectors.“The bid we’re seeing in base metal stocks likely reflects a bit more comfort that the trade war may not cause too much damage to global growth,” he said in an interview.The S&P/TSX composite index closed down 47.82 points at 16,159.50, after hitting a low of 16,159.50 on 237.4 million shares traded.The consumer discretionary sector led on the downside, driven by autoparts companies Martinrea International, Magna International and Linamar Corp.Bernes attributed the companies’ share losses to higher commodity prices and ongoing unresolved NAFTA issues.Crude prices rose for a fourth-straight day with the November crude contract rising 36 cents at US$72.44 per barrel, mainly related to tight supply.Data suggests Iranian production is dropping off rapidly and anticipated offsetting purchases from India and China aren’t materializing, Bernes said.A published report said Indian energy companies are expected to eliminate Iranian imports in November, likely because of pressure from U.S. sanctions, he said.Also, Saudi Arabia appears comfortable with higher oil prices and has been unwilling to fill the production drop off.Canadian energy equities did not benefit from Tuesday’s higher crude price because the country is still having a problem moving the oil, resulting in a widening gap between Western Canada Select and the West Texas Intermediate, Bernes said.In New York, the Dow Jones industrial average closed off 69.84 points at 26,492.21. The S&P 500 index shed 3.81 points to 2,915.56, while the Nasdaq composite was up 14.22 points to 8,007.47.Wednesday’s forecasted interest rate hike by the U.S. Federal Reserve is already priced in to stocks, added Bernes.“Markets are probably in a wait-and-see mode for the Fed,” he said in an interview.The November natural gas contract was up 2.9 cents at US$3.06 per mmBTU.The December gold contract was up 70 cents US at US$1,205.10 an ounce and the December copper contract was down 1.25 cents at US$2.82 a pound.last_img read more

first_imgTOKYO — Japanese media say Tokyo prosecutors have charged Nissan former chairman Carlos Ghosn with underreporting his income. Another executive and Nissan Motor Co. also were charged.Prosecutors would not immediately confirm the reports Monday by Kyodo News service and other media. They were due to brief media later in the day.The prosecutors say Ghosn is suspected of underreporting his income by 5 billion yen ($44 million) over five years. In Japan, a company can be charged with wrongdoing.Some kind of action by the prosecutors had been expected as the detention period allowed for the allegations disclosed so far ends on Monday.Nissan executive Greg Kelly is suspected of having collaborated with Ghosn. Kelly’s attorney in the U.S. says he is asserting his innocence.Ghosn has not commented.The Associated Presslast_img read more