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Current Medicinal Chemistry (v.19, #9)
Editorial [Hot Topic: Regulation of Glutamate Synthesis Via Inhibition of Glutamate Carboxypeptidase II (GCPII): An Effective Method to Treat Central and Peripheral Nervous System Disorders (Guest Editors: Guido Cavaletti and Barbara Slusher)] by Guido Cavaletti (1259-1260).
Glutamate is a highly abundant excitatory neurotransmitter in the central nervous system residing in vesicles within chemical synapses. Once a nerve impulse triggers the release of glutamate from the pre-synaptic cell, it binds to and activates both ionotropic (ion channel- forming) and metabotropic (G protein-activating) glutamate receptors on the opposing post-synaptic cell. Subsequently glutamate transporters, localized in neuronal and glial membranes, rapidly and efficiently remove glutamate from the extracellular space thus inactivating the signaling. Glutamate excitatory neurotransmisison is involved in most aspects of normal brain function including cognition, memory and learning. However in several neurological and psychiatric diseases excess glutamate accumulates outside the cells resulting in hyperactivation of post synaptic glutamate receptors and causing massive calcium influx, damage to mitochondria and activation of proapoptotic genes. For this reason pharmacological blockade of this so-called "excitotoxic" effect via antagonism of post synaptic glutamate receptors has been of significant therapeutic interest. Unfortunately, although post synaptic receptor blockers have shown significant promise in preclinical animal models, they have been fraught with untoward side effects in the clinic thus limiting their therapeutic utility [1, 2]. Given this limitation, alternative strategies have been sought targeting processes upstream of the excitotoxic insult, i.e. blocking glutamate release from presynaptic terminals. This approach rationalizes that diminishing the amount of glutamate in the synaptic cleft will attenuate several diverse downstream pathologic processes simultaneously. Lamotrigine and riluzole are two examples of such strategy. Both drugs are presynaptic sodium channel blockers which limit glutamate release and are used in clinical practice to alleviate symptoms of epilepsy and amyotrophic lateral sclerosis, respectively [3, 4]. Recent data from multiple laboratories has identified an alternative approach to attenuate excess glutamate transmission. This approach is based upon inhibiting the hydrolysis of N-Acetyl-aspartyl-glutamate (NAAG), the most abundant mammalian peptidic neurotransmitter. NAAG is hydrolyzed to N-acetyl-aspartyl and glutamate by Glutamate Carboxypeptidase II (GCPII), a glially localized membrane-bound binuclear zinc metallopeptidase [5]. Inhibiting GCPII has been shown to dampen excessive glutamate transmission by both decreasing extracellular NAAG-derived glutamate as well as increasing NAAG. Increased NAAG results in activation of presynaptic mGluR3 [6] and the release of the neuroprotective trophic factor TGFβ [7]. Many families of structurally distinct small molecule inhibitors of GCPII have been synthesized and shown to attenuate neurotoxicity in several animal models of disease whereby enhanced glutamate transmission is presumed pathogenic. These models include inflammatory and neuropathic pain, brain ischemia, motoneuron disease, spinal cord and traumatic brain injury, peripheral neuropathy, epilepsy, and drug abuse (for review see [8-10]). This new approach to modulate glutamate levels via GCPII inhibition is therapeutically exciting, since it does not appear to affect basal glutamate function but rather selectively inhibits excessive glutamate neurotransmission [11]. From a therapeutic standpoint, this is ideal. If this holds true in the clinic, GCPII inhibition could limit excess glutamate release and provide neuroprotection without the untoward side effects observed with potent glutamate receptor antagonists. Data from the first clinical evaluation of a small molecule GCPII inhibitor supports this possibility [12]. The current knowledge of the role of glutamate under normal and pathologic conditions as well as the utility and development of inhibitors of GCPII able to target glutamate synthetic machinery will be reviewed in the following chapters. REFERENCES [1] Low, S. J.; Roland, C. L., Review of NMDA antagonist-induced neurotoxicity and implications for clinical development. Int J Clin Pharmacol Ther 2004, 42 (1), 1-14. [2] Javitt, D. C.; Schoepp, D.; Kalivas, P. W.; Volkow, N. D.; Zarate, C.; Merchant, K.; Bear, M. F.; Umbricht, D.; Hajos, M.; Potter, W. Z.; Lee, C. M., Translating glutamate: from pathophysiology to treatment. Sci Transl Med 3 (102), 102mr2. [3] Gordon, P. H., Amyotrophic lateral sclerosis: pathophysiology, diagnosis and management. CNS Drugs 25 (1), 1-15. [4] Syed, T. U.; Sajatovic, M., Extended-release lamotrigine in the treatment of patients with epilepsy. Expert Opin Pharmacother 11 (9), 1579-85. [5] Slusher, B. S.; Robinson, M. B.; Tsai, G.; Simmons, M. L.; Richards, S. S.; Coyle, J. T., Rat brain N-acetylated alpha-linked acidic dipeptidase activity. Purification and immunologic characterization. J Biol Chem 1990, 265 (34), 21297-301. [6] Wroblewska, B.; Wroblewski, J. T.; Pshenichkin, S.; Surin, A.; Sullivan, S. E.; Neale, J. H., N-acetylaspartylglutamate selectively activates mGluR3 receptors in transfected cells. J Neurochem 1997, 69 (1), 174-81. [7] Thomas, A. G.; Liu, W.; Olkowski, J. L.; Tang, Z.; Lin, Q.; Lu, X. C.; Slusher, B. S., Neuroprotection mediated by glutamate carboxypeptidase II (NAALADase) inhibition requires TGF-beta. Eur J Pharmacol 2001, 430 (1), 33-40. [8] Tsukamoto, T.; Wozniak, K. M.; Slusher, B. S., Progress in the discovery and development of glutamate carboxypeptidase II inhibitors. Drug Discov Today 2007, 12 (17- 18), 767-76. [9] Zhou, J.; Neale, J. H.; Pomper, M. G.; Kozikowski, A. P., NAAG peptidase inhibitors and their potential for diagnosis and therapy. Nat Rev Drug Discov 2005, 4 (12), 1015-26. [10] Barinka, C.; Rojas, C.; Slusher, B.; Pomper, M., Glutamate Carboxypeptidase II in Diagnosis and Treatment of Neurologic Disorders and Prostate Cancer. Curr Med Chem. 2012, Jan 2 [Epub ahead of publication] [11] Slusher, B. S.; Vornov, J. J.; Thomas, A. G.; Hurn, P. D.; Harukuni, I.; Bhardwaj, A.; Traystman, R. J.; Robinson, M. B.; Britton, P.; Lu, X. C.; Tortella, F. C.; Wozniak, K. M.; Yudkoff, M.; Potter, B. M.; Jackson, P. F., Selective inhibition of NAALADase, which converts NAAG to glutamate, reduces ischemic brain injury. Nat Med 1999, 5 (12), 1396-402. [12] van der Post, J. P.; de Visser, S. J.; de Kam, M. L.; Woelfler, M.; Hilt, D. C.; Vornov, J.; Burak, E. S.; Bortey, E.; Slusher, B. S.; Limsakun, T.; Cohen, A. F.; van Gerven, J. M., The central nervous system effects, pharmacokinetics and safety of the NAALADase-inhibitor GPI 5693. Br J Clin Pharmacol 2005, 60 (2), 128-36.
The Role of Glutamate in Diabetic and in Chemotherapy Induced Peripheral Neuropathies and its Regulation by Glutamate Carboxypeptidase II by V. A. Carozzi (1261-1268).
Glutamate has been implicated in the pathogenesis of several diseases on the central nervous system, but recent studies have also suggested that it can be involved also in the onset and course of peripheral neuropathies. Given the increasing evidence of this possibility, several attempts have been performed in order to modulate its activity. Among them, glutamate carboxypeptidase II (GCP II) inhibition demonstrated promising results in different models of peripheral nerve damage, including diabetic and toxic neuropathies
The Glutamatergic Neurotransmission in the Central Nervous System by P. Marmiroli (1269-1276).
Glutamate is one of the major neurotrasmitters in mammalian brain and changes in its concentration have been associated with a number of neurological disorders, including neurodegenerative, cerebrovascular diseases and epilepsy. Moreover, recently a possible role for glutamatergic system dysfunction has been suggested also in the peripheral nervous system. This chapter will revise the current knowledge in the distribution of glutamate and of its receptors and transporters in the central nervous system.
Tissue Distribution of Glutamate Carboxypeptidase II (GCPII) with a Focus on the Central and Peripheral Nervous System by P. Marmiroli (1277-1281).
Glutamate carboxypeptidase II, also known as prostate specific membrane antigen or folate hydrolase I, is a type II transmembrane 750 amino acid membrane-bound glycoprotein, with a molecular weight in the human form of approximately 100 kDa and a demonstrated metallopeptidase activity. At the synaptic level it hydrolyzes N-acetylaspartylglutamate to N-acetyl-aspartate and glutamate. Its localization in the animal and human nervous system has only recently been clearly established, since many of the older studies gave conflicting results, likely due to the use of poorly characterized antibodies lacking epitope mapping and proper controls (i.e. immunohistochemistry complemented by western blot analysis and enzyme activity determination). In this chapter, we will review the available literature describing the animal and human distribution of glutamate carboxypeptidase in the central and peripheral nervous system.
Structure-Activity Relationships of Glutamate Carboxypeptidase II (GCPII) Inhibitors by D. V. Ferraris (1282-1294).
Glutamate carboxypeptidase II (GCPII, EC 3.4.17.21) is a zinc metallopeptidase that hydrolyzes N-acetylaspartylglutamate (NAAG) into N-acetylaspartate (NAA) and glutamate in the nervous system. Inhibition of GCPII has the potential to reduce extracellular glutamate and represents an opportune target for treating neurological disorders in which excess glutamate is considered pathogenic. Furthermore, GCPII was found to be identical to a tumor marker, prostate-specific membrane antigen (PSMA), and has drawn significant interest as a diagnostic and/or therapeutic target in oncology. Over the past 15 years, tremendous efforts have been made in the discovery of potent GCPII inhibitors, particularly those with phosphorus-, urea- and thiol-based zinc binding groups. In addition, significant progress has been made in understanding the three-dimensional structural characteristics of GCPII in complex with various ligands. The purpose of this review article is to analyze the structure-activity relationships (SAR) of GCPII inhibitors reported to date, which are classified on the basis of their zinc-binding group. SAR and crystallographic data are evaluated in detail for each of these series to highlight the future challenges and opportunities to identify clinically viable GCPII inhibitors.
Glutamate and Multiple Sclerosis by M. Frigo (1295-1299).
Multiple sclerosis (MS) has been considered for a long time a typical inflammatory demyelinating disease of the central nervous system due to autoimmunity targeting oligodendrocytes with sparing of axons until advanced stages of the disease. For this reason, most of the earliest experimental studies focused on the role of cytokines and chemokines at the site of oligodendrocytes loss and on the importance in MS pathogenesis of classical inflammatory mechanisms. As a result, several attempts to treat MS through reduction of the local inflammatory milieau have been performed, leading to the current "immunomodulatory" treatment of the disease. However, more recently the importance of axonal loss and neurodegeneration even in the earliest stages of MS has been also recognized, and additional or concomitant players have been therefore searched. Evidence is now increasing that excessive glutamate is released at the site of demyelination and axonal degeneration in MS plaques, and the most probable candidates for this cellular release are infiltrating leukocytes and activated microglia. These observations are no longer simply preclinical results obtained in the MS animal model, i.e. experimental allergic encephalomyelitis, but have already been partially confirmed by post-mortem studies and in vivo analysis in MS patients, thus raising the possibility that modulation of glutamate release and transport as well as receptors blockade might be relevant targets for the development of future therapeutic interventions.
Glutamate Carboxypeptidase II: An Overview of Structural Studies and Their Importance for Structure-Based Drug Design and Deciphering the Reaction Mechanism of the Enzyme by J. Pavlicek (1300-1309).
Recent years witnessed rapid expansion of our knowledge about structural features of human glutamate carboxypeptidase II (GCPII). There are over thirty X-ray structures of human GCPII (and of its close ortholog GCPIII) publicly available at present. They include structures of ligand-free wild-type enzymes, complexes of wild-type GCPII/GCPIII with structurally diversified inhibitors as well as complexes of the GCPII(E424A) inactive mutant with several substrates. Combined structural data were instrumental for elucidating the catalytic mechanism of the enzyme. Furthermore the detailed knowledge of the GCPII architecture and protein-inhibitor interactions offers mechanistic insight into structure-activity relationship studies and can be exploited for the rational design of novel GCPII-specific compounds. This review presents a summary of structural information that has been gleaned since 2005, when the first GCPII structures were solved.
Assessing Glutamatergic Function and Dysfunction in Peripheral Tissues by L. Tremolizzo (1310-1315).
Glutamate is the major mediator of excitatory signaling in the mammalian central nervous system (CNS) and it has recently been described to have a central role in the transduction of sensory input in the peripheral nervous system (PNS), too. However, functional glutamatergic systems are expressed by peripheral non-neural tissues as well, such as heart, kidney, lungs, ovary, testis, blood and skin. Interestingly, glutamatergic alterations have been repeatedly described in these tissues in various neuropsychiatric diseases. Here we will review evidence suggesting that glutamate measurements obtained from sampling ex vivo peripheral cells can permit the assessment of the dynamics of glutamate release, uptake, receptor-mediated signaling, synthesis and degradation, and mirror homologous dysfunctions operative within the CNS in each single patient. Among all the available cell types we will focus on leukocytes, platelets and fibroblasts that can be easily obtained from patients multiple times without concerns related to post-mortem changes. Finally, we will briefly review another possibility, offered by testing plasma (and CSF) glutamate levels, allowing the indirect investigation of glutamatemediated crosstalk between central and peripheral compartments. Technical pitfalls of these biomarkers will be contextually emphasized.
GCPII Variants, Paralogs and Orthologs by K. Hlouchova (1316-1322).
Glutamate carboxypeptidase II (GCPII) and its splice variants, paralogs and human homologs represent a family of proteins with diverse tissue distribution, cellular localization and largely unknown function which have been explored only recently. While GCPII itself has been thoroughly studied from different perspectives, as clearly documented in this series of reviews, very little is known about other members of its family, even though they might be biologically relevant. Differential expression of individual GCPII splice variants is associated with tumor progression and prognosis of prostate cancer. The best studied GCPII homolog, GCPIII or NAALADase II, may be a valid pharmaceutical target for itself since it may compensate for a lack of normal GCPII enzymatic activity. Detailed molecular characterization of this family of proteins is thus very important not only with respect to the potential therapeutic use of GCPII inhibitors, but also for better understanding of the biological role of GCPII within as well as outside the nervous system.
The Role of Glutamate Signaling in Pain Processes and its Regulation by GCP II Inhibition by K. M. Wozniak (1323-1334).
Glutamate is the predominant excitatory neurotransmitter used by primary afferent synapses and neurons in the spinal cord dorsal horn. Glutamate and glutamate receptors are also located in areas of the brain, spinal cord and periphery that are involved in pain sensation and transmission. Not surprisingly, glutamate receptors have been an attractive target for new pain therapies. However, their widespread distribution and array of function has often resulted in drugs targeting these sites having undesirable side-effects. This chapter will review, in general terms, the current knowledge of glutamate and its effects at various glutamate receptors with regards to nociception. In addition, we will briefly review the glutamatergic drugs currently in use as treatments for pain, as well as known novel candidates in various stages of clinical trial. Lastly, we will summarize the data supporting a novel target for pain intervention by way of GCPII inhibition, which appears devoid of the side-effects associated with direct glutamate receptor antagonists and thus holds major promise for future therapy. GCPII (glutamate carboxypeptidase II) cleaves the prevalent neuropeptide NAAG into NAA and glutamate and there is widespread evidence and belief that targeting the glutamate derived from this enzymatic action may be a promising therapeutic route.
Glutamate in CNS Neurodegeneration and Cognition and its Regulation by GCPII Inhibition by K. A. Rahn (1335-1345).
Glutamate, first identified in 1866, is the primary excitatory neurotransmitter in the brain. While it is critically important in many highly regulated cortical functions such as learning and memory, glutamate can be much like the magic the Sorcerer's Apprentice used in Goethe's poem: when conjured under unregulated conditions glutamate can get quickly out of control and lead to deleterious consequences. Two broad types of glutamate receptors, the ionotropic and metabotropic, facilitate glutamatergic neurotransmission in the CNS and play key roles in regulating cognitive function. Excessive activation of these receptors leads to excitotoxicity, especially in brain regions that are developmentally and regionally vulnerable to this kind of injury. Dysregulation of glutamate signaling leads to neurodegeneration that plays a role in a number of neuropsychiatric diseases, prompting the development and utilization of novel strategies to balance the beneficial and deleterious potential of this important neurotransmitter. Inhibition of the enzyme glutamate carboxypeptidase II (GCPII) is one method of manipulating glutamate neurotransmission. Positive outcomes (decreased neuronal loss, improved cognition) have been demonstrated in preclinical models of ALS, stroke, and Multiple Sclerosis due to inhibition of GCPII, suggesting this method of glutamate regulation could serve as a therapeutic means for treating neurodegeneration and cognitive impairment.
GCPII Imaging and Cancer by C. A. Foss (1346-1359).
Glutamate carboxypeptidase II (GCPII) in the central nervous system is referred to as the prostate-specific membrane antigen (PSMA) in the periphery. PSMA serves as a target for imaging and treatment of prostate cancer and because of its expression in solid tumor neovasculature has the potential to be used in this regard for other malignancies as well. An overview of GCPII/PSMA in cancer, as well as a discussion of imaging and therapy of prostate cancer using a wide variety of PSMA-targeting agents is provided.
NAAG, NMDA Receptor and Psychosis by Richard Bergeron (1360-1364).
At central synapses, glutamate is the main excitatory neurotransmitter. Once released from presynaptic terminals, glutamate activates a number of different glutamatergic receptors one of which is the ligand gated ionophore glutamatergic subtype N-methyl-Daspartate receptors (NMDARs). NMDARs play a crucial role in controlling various determinants of synaptic function. Nacetylaspartylglutamate (NAAG) is the most prevalent peptide transmitter in the mammalian central nervous system. NAAG is released upon neuronal depolarization by a calcium-dependent process from glutamatergic and GABAergic neurons. It is cleaved by a specific peptidase located on astrocytes, glutamate carboxypeptidase type II (GCP-II), to N-acetylaspartate (NAA) and glutamate. Current evidence supports the hypothesis that NAAG is an endogenous agonist at G protein coupled mGluR3 receptors and an antagonist at NMDAR. In several disorders and animal models of human diseases, the levels of NAAG and the activity of GCP-II are altered in ways that are consistent with NAAG's role in regulation of glutamatergic neurotransmission. Several lines of evidence suggest that a dysfunction in glutamatergic via the NMDAR might be involved in schizophrenia. This hypothesis has evolved from findings that NMDAR antagonists such as phencyclidine (PCP or "angel dust"), produces a syndrome in normal individuals that closely resembles schizophrenia and exacerbates psychotic symptoms in patients with chronic schizophrenia. Recent postmortem, metabolic and genetic studies have provided evidence that hypofunction of discrete populations of NMDAR can contribute to the symptoms of schizophrenia, at least in some patients. The review outlines the role of endogenous NAAG at NMDAR neurotransmission and its putative role in the pathophysiology of schizophrenia.
Recognition of Nucleic Acid Ligands by Toll-Like Receptors 7/8: Importance of Chemical Modification by Hui Yu (1365-1377).
Toll-like receptors 7 and 8 (TLR7/8), known as pattern recognition receptors (PRR), are currently viewed as important targets for the development of new therapies for multiple diseases. Therefore, manipulating the immune response by using TLR7/8 agonists or antagonists might be of therapeutic value. Nucleic acid-like structures are well-known TLR7/8 ligands, such as single-stranded RNA (ssRNA), small interfering RNA (siRNA), CpG-oligodeoxynucleotides (ODNs) and nucleoside analogues. However, these nucleic acid TLR7/8 ligands show a variety of pharmacological properties and change of their structures offers a high degree of diversity. Unnatural modified nucleosides have been explored to expand the properties and the applications of nucleic acid. In this regard, chemical modification of nucleosides is very useful for production of specific pharmacological qualities of nucleic acid TLR7/8 ligands. In this review, we will summarize the characteristics of nucleic acid TLR7/8 ligand system and describe the applications of chemical modifications, with a focus on potency and structure-activity relationships (SAR).
Azole Antimycotics - A Highway to New Drugs or a Dead End? by R. Musiol (1378-1388).
Azole antimycotics are a well-known and important class of agents that are used in hospital practice, everyday health care, veterinary medicine and for crop protection. The era of azole fungicides began with the breakthrough of chlormidazole roughly 50 years ago. Since then, more than 20 drugs of this group, including triazoles, have been brought to the market. The specific chemical structure and mechanism of the action of azoles along with the eukaryotic character of fungal pathogens raise several serious issues. Resistance to drugs and disturbance to metabolic pathways are among the most important. On the other hand, these same features are responsible for unique and novel applications of these drugs. As a result, old and ineffective antifungal drugs can be successfully used in the treatment of parasitic diseases, bacterial infections or cancers. Are azoles getting their second wind?
Non-Alcoholic Steatohepatitis: What Can We Learn from Animal Models? by C. C. Almonacid-Urrego (1389-1404).
Non-alcoholic fatty liver disease (NAFLD) is one of the most frequent causes of abnormal liver function and correlates with central adiposity, obesity, insulin resistance, the metabolic syndrome and type 2 diabetes mellitus. The pathological spectrum of NAFLD ranges from fatty liver to non-alcoholic steatohepatitis (NASH), advanced fibrosis, cirrhosis, and even hepatocellular carcinoma. Though NAFLD and NASH are becoming a major public health problem, ethical constraints on obtaining human liver tissue limit the interpretability of the data and the ability to delineate cause and effect from complex, interactive disease pathogenic pathways. Animal models of NASH can provide critical information leading to identify potential drug targets and to understand their molecular mechanisms, and are platforms for compound screening in drug development and for the assessment of novel therapeutic strategies. This review is aimed to offer an updated overview of the nutritional, genetic and pharmacologic animal models of NASH. Though the information derived from these models has clear relevance for the comprehension of the molecular basis of human disease, most of them fail to reproduce the full spectrum of liver pathology and the metabolic context that characterizes human NASH. Consequently, it is necessary to establish animal models that can best mimic the actual etiology, progression, and pathogenesis of the disease, and prove effectiveness for examining and selecting compounds with potential therapeutic benefit in NASH.
Update on the Slow Delayed Rectifier Potassium Current (IKs): Role in Modulating Cardiac Function by Zhenzhen Liu (1405-1420).
The slow delayed rectifier current (IKs) is the slow component of cardiac delayed rectifier current and is critical for the late phase repolarization of cardiac action potential. This current is also an important target for Sympathetic Nervous System (SNS) to regulate the cardiac electivity to accommodate to heart rate alterations in response to exercise or emotional stress and can be up-regulated by β- adrenergic or other signal molecules. IKs channel is originated by the co-assembly of pore-forming KCNQ1 α-subunit and accessory KCNE1 β-subunit. Mutations in any subunit can bring about severe long QT syndrome (LQT-1, LQT-5) as characterized by deliquium, seizures and sudden death. This review summarizes the normal physiological functions and molecular basis of IKs channels, as well as illustrates up-to-date development on its blockers and activators. Therefore, the current extensive survey should generate fundamental understanding of the role of IKs channel in modulating cardiac function and donate some instructions to the progression of IKs blockers and activators as potential antiarrhythmic agents or pharmacological tools to determine the physiological and pathological function of IKs.
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Working with Aspect Studios, BVN designed a set of distinctive gardens arranged as a connected suite of intimate and public spaces bound by 'quiet' buildings with transparent portals that open directly to the garden setting. This series of garden vistas and rooms are in turn linked to the existing lake, now reimagined as the 'heart' of a broader network that will include future stages.
The widest possible range of reflective and celebratory events, are supported through buildings that include chapels, function rooms, café, florist and service centre. A particularly characteristic part is the pedestrian commemoration bridge which connects the central gardens to the curvilinear outdoor chapel which opens directly to the lake.
Materials and detail throughout the complex are identifiably Australian, there are distinctive native plants combined with rusted steel landscape walls, red earth paths and berms, reflective water pools, and rammed earth walls. The eucalypt timber joinery, interior and exterior colours extend the repertoire of the buildings being 'reverential' backgrounds to the colour and energy of the gardens.
At the core of the scheme is BVN's commitment to the capacity of architecture and place making to evoke and suggest potent experiences. Buildings and spaces are designed to host occasions where what is accepted, intrinsic and essential about life can be experienced with heightened awareness.
Southern Metropolitan Cemeteries Trust's ambition for Bunurong Memorial Park to be used as a destination for celebrations of all kinds and for all people is already being realised with a weddings being organised alongside funerals.
BVN provided full services from briefing through to contract administration.


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Quantitative Easing: were markets surprised?
The ECB has announced that it will launch in March its first round of quantitative easing. The announcement contains some good and bad surprises: the size of the ECB's plan is gigantic, while the Central Bank was unclear about the Greek issue. How was this announcement perceived by markets?
Par Stéphane Lhuissier
Billet du 24 janvier 2015
The European Central Bank has announced Thursday, not surprisingly, the launch of a programme of asset purchases, the so-called quantitative easing. What was surprising, however, was the huge size of purchases by the end of September 2016: "under this expanded programme the combined monthly purchases of public and private sector securities will amount to 60 billion," ECB President Mario Draghi said. In other words, more than one trillion Euros will be created and injected into Eurozone. Was it expected by financial markets?
The twin objective of the ECB appears relatively clear: restoring normal a functioning of the financial system within the Euro area, and averting deflation. Indeed, Mr Draghi said the Eurosystem would plan, if needed, to extend the program "until we see a sustained adjustment in the path of inflation", which the ECB has defined as "below, but close to, 2%".
Earlier this month, the inflation rate in the euro area fell below zero! The specter of a prolonged period of deflation is one of the major fears among in the Euro area countries. According to Christine Lagarde, managing director of the International Monetary Fund, deflation could "prove disastrous for the recovery".
The increase in the ECB's balance sheet through its large-scale programme of asset purchases is expected to prevent deflation, and more generally, to stimulate the economy through the fall of longer-term yields. This transmission channel, known as "the portfolio channel" was summarized by the economist Brian Sack as follows: "the purchases bid up the price of the asset and hence lower its yield. These effects would be expected to spill over other assets that are similar in nature, to the extent that investors are willing to substitute between the assets". In turn, the fall of interest rates should encourage investment, accelerate spending, and thus put prices up and boost economic growth.
Looking at market prices, it turns out that President Draghi managed to create a positive surprise. Of course, a large part of the announcement by the ECB was expected by financial markets prior to the ECB formal decision. There exist, however, a unpredictable "component" that reveals how the ECB statement has been perceived by financial markets. For example, the left panel of Figure 1 presents a graph of intraday movements in the 10-year Spanish bond yield for the latest ECB announcement date. The grey areas indicate the period that covers the Mario Draghi speech, i.e. between 2.30pm to 3.30pm. Clearly, this graph shows that there are significant movements in the yield and that the major part of these movements can be attributed to the ECB announcement on this event day. This sharp drop captures the "surprise" in the ECB announcement and reveals that the plan has been well perceived by financial markets.
But let's also look at other yields. Table 1 presents changes in the 10-year government bond yields for several European countries in a narrow window of time surrounding the ECB statement. There are some remarkable similarities between the yields. For example, the 10-year Spanish yield falls by 154-142 = 12 basis points while at the same time, a similar fall was also observed for the German yield. The ECB announcement appears to be also significant news for France and Italy with a noticeable fall by -13 and -11, respectively. The ECB announcement appears to be the most significant news for Greece with a fall by 15 basis points. Overall, the general character of the yield adjustment suggests various things:
The policy moves was bigger than expected.
The degree of precision about the sequence and structure of purchases, as well as their country allocations, managed to generate a positive surprise.
Table 1 – Changes in the 10-year government bond yields in a narrow window (90 minutes) of time surrounding the ECB statement
France Germany Spain Italy Greece
Difference in basis points -13.4 -12.3 -12.5 -11.8 -15.8
This is good news given that market prices had already largely priced a sizeable policy step. This being said, the announcement also came with explicit limitations that might prevent the ECB from signing a blank cheque on all EMU governments. In particular, Mr Mario Draghi did mention that "the Eurosystem will start to purchase euro-dominated investment grade securities issues by Euro area governments and agencies and European institutions in the second market". In other words, Greek bonds are excluded from the scheme. This means that the very preoccupying deterioration in the health of financial system in this country remains unaddressed.
Overall, how should we judge the ECB's announcement? Bond price reactions suggest it has been quite successful. Also, the Euro fell substantially after the announcement Thursday as the right panel of Figure 1 shows. The single currency sharply decreased by about 2% against the dollar, encouraging demand for exports. This also good news.
One could regret that ECB's decision to start quantitative easing has come too late. The crisis of sovereign debts in 2012 would have been better. But better late than never.
Figure 1 – 10-year Spanish bond yield and EUR-USD exchange rate on Jan. 22, 2015
Source: Bloomberg. Time series of 10-year Spanish yield and Euro/US Dollar.
Monnaie & Finance | Europe | Politique économique

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Approximately one hundred years ago four of the Savery sisters posed for a seaside snapshot. Their father, Rev. John Manly Savery, had exchanged livings about that time, leaving the flowering countryside of Froxfield in Wiltshire for a Birmingham parish, where there was a sooty garden, but better schools and, presumably, an extra shilling or two at month's end. Even so, times were hard, and the oldest daughter, Winifred, wrote an unpublished account of how the fire was set ablaze in the hearth and the girls dressed in church finery for a visit from the bishop's wife. When the visitor sent word that she would not be there, the fire was raked out to save coal, the Sunday dresses were hung up again, and a special treat--oranges to be sucked through sugar cubes--was distributed. Inevitably, the distinguished visitor arrived after all to be greeted by sticky girls in a chilly parlour.
My mother died suddenly of a heart attack in 1925. In three years she had made herself so well loved by the parishioners that they subscribed to a memorial now in the church, a bronze by Frank Taubman. She was an evangelist by nature, whereas my father was essentially a pastor. During her short ministry she was the leader of a flourishing women's Bible Class and played a very active part in the erection of a church room... [she] organized services of Song that proved very popular during her lifetime and afterwards.
... it is often more convenient in a story to have characters of the same age, rather than those with a big gap between their ages. I had a cousin who was six weeks my junior, and I looked down on her from a measureless height of superiority.
Christine Charlotte Alexandra Savery was born on June 22, 1902, and died in September of 1997. She was not as prolific an author as Winifred. Her second book, The Raven Flew North (1950) for Stirling, I mention particularly so that I can quote from the publisher's flyleaf: "Parents are advised, when giving their children this book, to arrange beforehand a definite understanding as to what constitutes a reasonable bedtime hour." She, too, wrote 'books with a message' for Lutterworth, including Aircraftman Poke (1958), The Far-Farers (1960), Camp Robber (1962), Journey with Mark (1965), and The Siege of Blackbrae (1971), which were intended for 12 to 16-year-old boys and signed 'Chris Savery.' Not a stay-at-home author, Christine, together with her older sister Irene, worked with the Sandes Soldiers and Airmen's Centres, which provide a Christian atmosphere for off-duty servicemen. Before you conjure up a picture of austere old maids serving tea, you should know that that the sisters were on duty in France and evacuated with the troops from Dunkirk! Both later received the M.B.E. for their service, Christine in 1953 and Irene in 1957. The LONDON GAZETTE (30 Dec. 1952, p. 20) identifies Christine as Honorary Superintendent, Sandes Home, Royal Air Force, Mildenhall.
Irene Edith Savery was born on May 7, 1899. Like Christine, she inherited her mother's evangelical fervour and, as previously noted, followed it across the world. She was, according to Winifred, "...able to write, but choose not to." She did receive a one-pound prize in 1959 for an article entitled Unfair to Tommy. On April 7, 1960, Winifred wrote in her work diary, "Irene died, carissima, carissima." Irene was the first of the sisters to go and the only one that did not live past three score and ten.
The story must be original and fiction.
It must be written for Children (Boys, Girls, or both) of any age group between 8 and 16.
There must be a clear explanation in the story of the way of Salvation and, if the author so desires, simple Christian teaching of a non-denominational character may be included.
The place became holy ground.
The way to "The City of Gold".
Winifred's characters preached by example, and she went to considerable lengths to keep them from sounding like cardboard Sunday School teachers. Doreen, her mother's child, allowed her characters to preach a little, although not tiresomely, about their faith.
Phyllis Evelyn Mary Savery (1901-1978) was in poor health throughout a long life. Savery recalls that as early as 1925 "Phyllis, who was very delicate (rheumatism and heart trouble), was not working." A typical entry in Winifred's diary reads: "Jan. 18--about Feb. 17 . Phyl ill--influenza and laryngitis. Again very difficult to work." Winifred, in addition to nursing Phyllis, often typed her many short stories and articles, which were published in a wide variety of periodicals. The diary mentions thirty-two pieces typed by Winifred between 1950 and 1965. Presumably Phyllis wrote others. Here, as a sample, are are the titles for 1955: Daffodil Country (published?); Letters of Gold in the British Messenger; Primrose Country in the Marborough Times; Wild Trehern Moor in the Lily Library.
At the Vicarage everyone read, and the sisters were taught at home prior to the move to Birmingham. According to Winifred's obituary, their father wrote about theology and church architecture, but the only book with his name that survives in the British Library, the Bodleian, or the shelves of used book dealers is 'The Book' and its Story (1911), left, which combines transparent credulity with contemporaneous archaeological discoveries. The Reverend John Savery was a persistent note-taker, and Winifred inherited a suitcase full of his notebooks crammed with tiny copperplate handwriting, among them a proud father's 'autobiography' of Winifred with entries such as: "16 (June) 1st began playing at peep. Cut first tooth this week."
One of Christine's letters remarked that Winifred was "still writing at age 82 and had been at it since the age of 3." At eight, she edited a family magazine by "writing in the blank spaces of a church leaflet. . . and featuring a story by Homer and Hans Christian Anderson." The full account is in Rise and Fall of a Family Magazine, published in METHODIST MAGAZINE in February of 1958. The first magazine was followed by a succession of others with contributions from her sisters and playmates. Mrs. E.C.W. Hummerstone, Winifred's goddaughter and literary heir, possesses many of these, filled with careful, clear handwriting and colourful illustrations. After her older sisters had left the vicarage, Doreen continued the tradition.
Winifred and Christine attended the King Edward VI High School for Girls in Birmingham. Winifred featured the school in two of her books, Danny and the Alabaster Box (1937) and Redhead at School (1951), and a couple of short stories, and she commemorated composer Albert Gaul, who taught there, in a 1958 article for The Times of London. Both sisters did well at King Edward's--except in mathematics-- and went on to Oxford, where Winifred graduated in 1920, the first year in which degrees were awarded to women, followed by Christine in 1924. Oxford, too, is featured in Winifred's fiction, especially an unpublished two-volume prequel and sequel to Emeralds for the King that she wrote around 1985 to amuse Doreen when she was terminally ill. This book, Haggiston Hall, along with scores of other Savery manuscripts, is in the Knight Library at the University of Oregon.
Christine might have been wickeder. She had gone into town on a hot day with a another girl, and (gasp!) they entered a pub to purchase lemonade, which they drank outside. When they were about to return their glasses, they realised there was a proctor watching and walked off, forfeiting their deposits.
Another writer in the family was a cousin, Mysie Forsythe McFarlane (1861-1956). Signing herself M. E. Fraser, she wrote Young Sir Ralph, Madcap of the Family, The Luck of the Treherns, and Barbara in Charge. A year before she died, aged 90[?] in 1956, her book Audrey at the Grey House, was retyped and shortened by the ever-obliging Winifred.
When Winifred was 98 years old, she picked up the manuscript to The Quicksilver Chronicles, a novel which began in 1918 as a short story and had been altered to suit prospective editors for decades. No longer able to move, except in a wheelchair, her eyesight deteriorated so that she could not read either what she was writing or her previous draft, she completed a new version of her story in three manuscript books, a total of 692 pages. Her hymn on the last page is shaky, but still legible. It was a remarkable triumph of the will and a fitting climax to her career.
This web site © 2010 by Eric Schonblom. Portions of this page were previously published by Stella & Rose's Books at www.stellabooks.com/ and are reproduced here with their permission. The unpublished works of Constance Savery are reproduced with the permission of her literary heir and copyright owner, E.C.W. Hummerstone.


Percy Lloyd Hart (1874-1944) and Graham Lloyd Hart (1906-1974), judges, were father and son. Percy was born on 20 November 1874 at New Farm, Brisbane, sixth child of Graham Lloyd Hart, a solicitor from India, and his native-born wife Sarah Ellen Cooper, née Roberts. Educated locally at J. S. H. Schmidt's school and at Brisbane Grammar School (1887-93), Percy was a keen Rugby Union footballer and a gymnast. He passed the Barristers' Board examinations and was admitted to the Bar on 22 March 1898. At Wickham Terrace, Brisbane, on 12 July 1904 he married with Presbyterian forms Margaret Beatrice Crombie. Hart built up an extensive practice, especially in Equity, constitutional and ecclesiastical law. On 1 May 1916 he enlisted in the Australian Imperial Force. Commissioned in March 1917, he sailed for England twelve months later and served in France from August 1918 to January 1919, first with the 25th and then with the 26th battalions.
Back in Brisbane, Hart became a legendary figure. His vast fund of knowledge and memory for details—particularly case names and citations—stood him in good stead in court where he excelled in bluffing and was noted for protracting argument in case something might be turned up. He was always willing to help junior members of the profession. In 1933-38 he was an acting-judge of the Supreme Court. Following his dissenting judgement in the Ithaca election case (1938), the government did not offer him a full-time commission. A man of integrity and strong principles, Hart was a councillor of the Bar Association of Queensland and a member of the barristers' examination board. He was an Anglican synodsman and chancellor of the diocese of Brisbane, and president and trustee (1924-42) of Brisbane Grammar School's Old Boys' Association. Survived by his wife, four sons and two daughters, he died of cancer on 10 July 1944 at Clayfield and was cremated.
His eldest child Graham was born on 6 January 1906 at Ascot, Brisbane. Educated at Eagle Junction State and Brisbane Grammar schools, he was described at the latter as being 'industrious and public spirited', qualities he was to display throughout his life. In 1925 he enrolled at the University of Queensland intending to study medicine, but, within a year, went to work on the family property at Longreach; he started as a jackeroo and became an overseer. Returning to Brisbane in 1929, he studied law as an associate to Justice H. H. Henchman and was admitted to the Bar on 6 June 1933. Having been commissioned lieutenant in the Militia, Hart was seconded to the A.I.F. on 15 June 1940. He served with the 2nd/2nd Anti-Tank (Tank-Attack) Regiment in the Middle East (1940-42) and Papua (1942-43), and rose to captain in 1942. His A.I.F. appointment terminated in Queensland on 5 February 1944. At St John's Anglican Cathedral, Brisbane, on 21 July 1942 he had married 23-year-old Helen Constance Bryant.
Hart resumed his varied and successful practice, and took silk in 1953. A member of the Liberal Party, he held the seat of Mount Gravatt in the Legislative Assembly from August 1957 to January 1963. During his years in parliament he made many contributions, particularly in debates on aspects of the law. On 11 February 1963 he was appointed to the Supreme Court bench. Intolerant of delays in the administration of justice, he delivered his judgements promptly. His decisions often reflected his interest in legal history and were illustrated with numerous historical examples to support his analyses. Innate kindness characterized his judgements, as well as his personal relations, and he was held in high regard by the profession.
President (1961-63) of the Bar Association of Queensland, Hart was instrumental in forming the Australian Bar Association, of which he was vice-president (1962-63). As chairman (1959-63) of Barristers' Chambers Ltd, he was largely responsible for the decision to build the Inns of Court in Brisbane because he believed that members of the Bar should lead a collegiate life. He contributed to professional journals, maintained an interest in French literature and was chairman (1967) of the Supreme Court's library committee. A gentle man with an infectious sense of humour, he loved people and had interests that ranged from the Brisbane Agricultural Society to Legacy. He was also prominent in the Anglican synod. Survived by his wife, daughter and two sons, he died of myocardial infarction on 18 April 1974 in Brisbane and was cremated. His three children entered the legal profession.
Supreme Court, Judges' biography files, SCL/JB and newsclippings (Supreme Court Library, Brisbane).
Aladin Rahemtula, 'Hart, Percy Lloyd (1874–1944)', Australian Dictionary of Biography, National Centre of Biography, Australian National University, http://adb.anu.edu.au/biography/hart-percy-lloyd-10446/text18525, published first in hardcopy 1996, accessed online 19 April 2019.


Save rainforests by supporting our projects to reduce slash and burn farming.
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Or ring 0131 477 6970 or 07732 628174 and we will be delighted to tell you all about it.
Did you know that slash and burn agriculture is a major cause of rainforest destruction, yet the millions of farmers who practice it are trapped in poverty?
They do it because that is the only type of agriculture they know.
Inga alley cropping enables farmers to build rather than destroy the fertility of their soil, so they can get better harvests and farm in one location without having to continually burn more and more of the rainforest to get fertile land to farm.
To read more follow the links on the side, and check out the latest work in the News section. Also there is more detail under 'Honduran Project' and 'Cameroon Project' A section on our work in Ecuador will follow soon.


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Chiesa dei Santi Rocco, Fabiano e Sebastiano – Brusino, frazione di Cavedine
 Chiesa dei Santi Rocco, Fabiano e Sebastiano – Someda, frazione di Moena

Pagine correlate
 Chiesa di San Rocco
 Chiesa dei Santi Fabiano e Sebastiano

redpajama_set_name: RedPajamaWikipedia


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Unusual, but Not Unprecedented
S&P Composite 1500®: Providing Higher Quality U.S. Equity Exposure
The Case for Information Technology Dividend Growers
Commodities Prices Slump in January
Divergence in Sector Returns
Tags 2020, alternative weighting, Anu Ganti, cap weight, equal weight, equities, index investment strategy, S&P 500 Equal Weight index, sector weighting
Since its inception, the S&P 500® Equal Weight Index has outperformed the S&P 500 by 1.4% annually. Year-over-year performance margins, however, are anything but steady. Exhibit 1 shows that the S&P 500 Equal Weight Index and its cap-weight counterpart have gone through many performance cycles over the past 30 years.
Mega caps experienced record performance during the past year, especially in the Information Technology sector, which is up a remarkable 46% over the past 12 months (Apple, Microsoft, Alphabet, Amazon, and Facebook account for 18% of the S&P 500's weight).
As a result, the performance of the S&P 500 Equal Weight Index, which has a small-cap bias, suffered, lagging the S&P 500 by 6.2% over the past 12 months. Exhibit 2 demonstrates that larger-cap stocks dominated within most sectors of the S&P 500, particularly in Information Technology. Of the 11 equal weight sectors, 9 underperformed their cap-weighted counterparts. Intra-sector weighting in Information Technology and its underweight to the sector were responsible for more than half of Equal Weight's shortfall.
It is important to understand the historical context of Equal Weight's recent underperformance. We can look to its history to put the current 6.2% loss in perspective. In August 2000, for example, the S&P 500 Equal Weight Index had underperformed by 5.9% over the trailing 12-month period. Exhibit 3 shows that this underperformance reversed itself in two months, followed by peak outperformance of 29.2% six months later in February 2001.
A similar occurrence took place in January 1991, when the Equal Weight underperformed by 5.9% over the trailing 12-month period. Exhibit 4 illustrates that, again, this underperformance reversed itself in the subsequent months with outperformance of 11.2% in October 1991.
We obviously can't know in advance what the future relative returns of the S&P 500 Equal Weight Index will be. What history teaches us, however, is that Equal Weight's recent underperformance is unusual, but not unprecedented.
2020, alternative weighting, Anu Ganti, cap weight, equal weight, equities, index investment strategy, S&P 500 Equal Weight index, sector weighting
Tags earnings, factor analysis, factor exposure, Hamish Preston, quality factor, S&P 1500, S&P Composite 1500, S&P MidCap 400, S&P SmallCap 600
Over the last few years, mega-cap companies have played an increasingly important role in driving U.S. equity market returns. Indeed, the five largest names in the S&P 500® accounted for 16.8% of the index at the end of last year, the highest year-end weight since 1982 and higher than the 16.6% reached at the end of 1999 during the Tech Bubble.
The sizeable representation of mega-cap companies in the U.S. equity market means that indices seeking to measure the performance of the market – such as the S&P Composite 1500 and the Russell 3000 – often have similar weights in these companies. Perhaps unsurprisingly, the two indices exhibited similar risk/return characteristics, historically.
However, it is important to remember that not all indices are created in the same way. For example, unlike the Russell 3000, the S&P Composite 1500 focuses on profitable U.S. companies by incorporating earnings criteria. Exhibit 3 shows that this focus meant the S&P 1500 has significant, positive quality exposure, which was also observed for each of the S&P 500, S&P MidCap 400® and the S&P SmallCap 600®.
Differences in index construction, especially the S&P 1500's earnings screen, may also be relevant given the proportion of IPOs with negative earnings: 2019 saw 74% of IPOs with negative 12-month trailing earnings per share, following 2018's record-equaling figure (81%). To the extent that these companies are expected to out- or underperform, differences in index methodologies may help to explain any divergence in index performance.
As a result, the sizeable representation of large-cap stocks means indices designed to track the U.S. equity market often have similar weights in these companies, resulting in similar risk/return profiles. However, understanding the different factor exposures of the S&P Composite 1500 and its competitors may be useful for assessing the impact of various market drivers on index returns.
earnings, factor analysis, factor exposure, Hamish Preston, quality factor, S&P 1500, S&P Composite 1500, S&P MidCap 400, S&P SmallCap 600
Karina Tjin
Tags Dividend Aristocrats, dividend growers, dividends, information technology, IT, S&P 500 Dividend Aristocrats, S&P Technology Dividend Aristocrats, Tech, tech dividend aristocrats
One of the common misconceptions in finance is that companies from the Information Technology (Tech) sector do not pay dividends. While this may have been the trend a long time ago, this has certainly not been the trend over the past 10 years. Over the past 10 years, within the Tech sector of the S&P 500®, 26 companies initiated dividend payments and 59 companies increased their dividends at various points throughout those years, for a total of 376 dividend increases in the sector.
During the same period, with an increasing number of Tech companies paying dividends, the contribution to S&P 500 total return by these companies rose from 9.07% in 2009 to 16.33% in 2019 (see Exhibit 1).
With the changing characteristics of the Tech sector, there is a need to measure the performance of dividend growers in this sector. Responding to market needs, S&P Dow Jones Indices recently launched the S&P Technology Dividend Aristocrats® Index, which seeks to track the performance of Tech companies that have a history of consistently increasing dividends.
Exhibit 2 shows the potential benefit of focusing on these companies: the S&P Technology Dividend Aristocrats Index provided similar risk-adjusted returns to the companies from the S&P TMI that are classified in the Tech sector over three- and five-year horizons, with lower volatility and higher dividend yield. The risk/return profile also compared favorably to the widely followed S&P 500 Dividend Aristocrats Index.
Given the results in Exhibit 2, it is perhaps unsurprising that the S&P Technology Dividend Aristocrats Index experienced lower volatility and lower drawdowns during a recent period of market turbulence. For example, the maximum drawdown for the S&P Technology Dividend Aristocrats Index (-19.5%) during Q4 2018 was less than that for the S&P TMI Information Technology (-23.6%). Exhibit 3 provides us with a more detailed view of the daily drawdown for this period.
The S&P Technology Dividend Aristocrats Index can be complementary to the S&P 500 Dividend Aristocrats, as the latter tends to be underweight in the Tech sector relative to the S&P 500—as of Dec. 31, 2019, the S&P 500 Dividend Aristocrats was 20% underweight in Tech. Given the growing importance of Tech companies in driving S&P 500 returns, the S&P Technology Dividend Aristocrats Index ensures relevant allocation to the sector.
Incorporating the S&P Technology Dividend Aristocrats Index in a portfolio with an existing allocation to the S&P 500 Dividend Aristocrats could provide greater diversification benefits. Exhibit 3 shows the back-tested returns of a hypothetical portfolio that allocates 80% to the S&P 500 Dividend Aristocrats and 20% to the S&P Technology Dividend Aristocrats Index. These weights were chosen to ensure a 20% weight in the Tech sector for the portfolio. We can see that combining the two Dividend Aristocrats indices in a single index resulted in a better risk/return profile than either individual index in the long-term.
The S&P Technology Dividend Aristocrats Index is designed to measure the performance of Tech companies with a history of raising dividends. The performance of the index has shown that it has a similar risk/return profile to the broader sector, with lower volatility and higher dividend yield. Ultimately, the index enables dividend-focused market participants to gain exposure to the Tech sector while maintaining growth and value characteristics.
Dividend Aristocrats, dividend growers, dividends, information technology, IT, S&P 500 Dividend Aristocrats, S&P Technology Dividend Aristocrats, Tech, tech dividend aristocrats
Jim Wiederhold
Associate Director, Commodities and Real Assets
Tags China, commodities, coronavirus, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Industrial Metals, S&P GSCI Soybeans, U.S.-China trade
It was a tough start to the year for commodities. The S&P GSCI ended the first month of 2020 down 10.8%, the largest month-over-month decline since November 2018. The outbreak of the coronavirus in China's Hubei Province flustered most financial markets, and the commodities markets were hit particularly hard given the potential impact on global supply chains and on the physical demand for commodities such as transportation fuel. There is also growing concern among market participants that, should the virus spread widely, it would weigh on global economic growth. Across the commodities markets, losses were driven by the petroleum complex and industrial metals, while only precious metals was accretive to headline performance.
China's coronavirus outbreak rattled oil markets in January, sending prices sharply lower, as investors worried that efforts to prevent it spreading could harm the country's economy and reduce demand for petroleum products. The S&P GSCI Petroleum was down 15.0% over the month. OPEC was reported to be mulling a cut in production to counter the decline in demand, but this news was not sufficient to allay price falls.
With approximately half of the base metals' global demand coming from China, the S&P GSCI Industrial Metals dropped 7.09% in January. The S&P GSCI Copper and S&P GSCI Nickel contributed the most to the downside, falling 9.86% and 8.53%, respectively. Chinese businesses were allowed to request force majeure certificates, which excuse parties from not performing their contractual obligations due to the current conditions in which business with overseas partners is affected.
Gold broke to a new five-year high and was one of the only bright spots in the commodities space. The S&P GSCI Gold climbed 3.97% due to a safe haven bid on the back of heightened geopolitical tensions between the U.S. and Iran, along with the coronavirus contagion. The favorable environment for the S&P GSCI Palladium continued into 2020 and led to a positive outperformance of 16.67% for January.
The signing of the Phase One U.S.-China trade deal, which included a pledge by China to buy billions of dollars in additional agricultural goods from the U.S., had little immediate impact on the agricultural markets in January, with the focus shifting almost entirely to the ongoing health crisis gripping the world's second-largest economy. The S&P GSCI Agriculture fell 2.65% in January. Even though China has recommenced purchasing U.S. soybeans, the S&P GSCI Soybeans was down 8.57% over the month, weighted down by plentiful supplies in North and South America. Sugar was the one sweet spot in the agricultural complex in January, with the S&P GSCI Sugar up an impressive 9.01% over the month. The International Sugar Organization has forecasted a global sugar deficit of 6.12 million metric tons in 2019-2020, and the slow pace of Indian exports has started to affect the market.
Lean hog prices nosedived in January, leaving the S&P GSCI Livestock down 10.23% over the month. Combined with concern regarding the persistence of demand in the largest market in the world for pork, China, was the fact that U.S. hog supplies continue to surprise to the upside, putting pressure on the U.S. slaughter capacity.
China, commodities, coronavirus, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Industrial Metals, S&P GSCI Soybeans, U.S.-China trade
Tags GICS sectors, Hamish Preston, S&P 1500, S&P 500, S&P GSCI Crude Oil, S&P MidCap 400, S&P SmallCap 600, US Equities
After a pullback in the market over the last week, it remains to be seen if U.S. equities will finish the month in the black. However, as of yesterday's close, the S&P Composite 1500, which represents over 90% of U.S. equity capitalization, was up 1.21% since the turn of the year as large cap gains offset declines in mid and small caps. Indeed, the S&P 500 stood 1.42% higher than at the end of 2019, while the S&P MidCap 400 (-0.73%) and the S&P SmallCap 600 (-1.58%) fell.
While the market has had its fair share of news to digest this month – including U.S.-Iran relations, corporate earnings, and the signing of a so-called "Phase One" trade agreement between the U.S. and China – news of a virus spreading in China has taken a lot of the headlines. Indeed, fears of contagion weighed on global equity markets this week, and the S&P 500 recorded a daily price decline of 1.57% on January 27th – its first daily price decline of more than 1% since October 2019 and ending its 10th longest streak (74 trading days) in the last 50 years without such a decline.
At a sector level, Utilities has been the best-performing large and mid cap sector, perhaps reflecting the bouts of unease observed at various points this month. And in signs of some good news impacting the market, the Information Technology and Communication Services sectors benefited from several strong earnings reports. At the other end of the spectrum, Energy was by far the worst performing sector this month as a decline in oil prices provided headwinds: the S&P GSCI Crude Oil Index is set for its worst monthly total return since May 2019, down 12.47% as of yesterday's close.
More broadly, and in large part because of Energy's woes, there was a sizeable difference between the best- and worst-performing U.S. equity sectors this month. For example, the 15.14% separating the best-performing S&P 500 sector (Utilities) and the worst-performing (Energy) is the largest monthly difference in large cap sectoral performance since October 2017. Similarly, the performance spread in S&P 400 sectors (22.84%) and S&P 600 sectors (24.88%) are the highest readings since September 2017 and September 2015, respectively.
As a result, although it remains to be seen which trends will continue to dominate headlines and shape sentiment – and caution should be taken when using January's performance to try and predict subsequent returns – the performance of U.S. equities in January highlights the potential for sizeable divergence in returns based on idiosyncratic reactions to news. Incorporating sectoral views may therefore be useful when navigating market movements.
For monthly updates on our indices, sign-up for our monthly dashboards here.
GICS sectors, Hamish Preston, S&P 1500, S&P 500, S&P GSCI Crude Oil, S&P MidCap 400, S&P SmallCap 600, US Equities


Oz out of range: Volkswagen has no plans to introduce the all-electric VW e-Golf to Australia (images sourced from Autocar).
EXPANSION of the seventh-generation Volkswagen Golf range is well underway, with details of the electric e-Golf and sporty diesel-powered GTD emerging from Europe overnight, ahead of their official world debut at the Geneva motor show next month.
VW Group Australia communications general manager Karl Gehling ruled out the e-Golf for Australia, but as no official details of the GTD have yet been announced, was unable to confirm if or when that variant would be reprised for the Golf 7 here.
British publication Autocar reports that the first production electric Golf will have a 175km battery range, will take 11.8 seconds to accelerate from 0-100km/h and have a top speed limited to 135km/h.
Powering the e-Golf's 85kW/270Nm electric motor is a 26.5kW battery pack that is said to take five hours to charge using a standard household socket.
By comparison, the similar-sized Nissan Leaf has a 80kW/280Nm electric motor and a 170km range from its 24kWh battery that takes 12 hours to charge using a 10-amp household socket or 6.5 hours using a 15-amp charger.
The e-Golf offers three driving modes – Normal, Eco and Range – that adjust power output and top speed, with Eco capping the car to 71kW and 120km/h. Range disables the air-conditioning and reduces top speed to 95km/h.
Autocar also has information about the GTD, which has a new 2.0-litre turbo-diesel engine that is more powerful yet more economical than the unit in the outgoing car.
Outputs of 135kW and 380Nm are 10kW and 30Nm up on the current GTD, and make for the most powerful diesel Golf yet, but it lags behind Opel's 143kW/400Nm bi-turbo four-cylinder diesel Astra sold in Europe.
Acceleration from 0-100km/h comes up in 7.5 seconds, three tenths quicker than the Astra and six tenths quicker than the outgoing GTD.
The GTD returns impressive combined fuel consumption of 4.2 litres per 100 kilometres compared with 5.1L/100km from the Astra hatch and wagon – but still a vast improvement over the outgoing GTD's 5.3L/100km.
The new engine achieves its power and efficiency using lightweight pistons and valvetrain components, reduced friction and better thermal management plus a lower compression ratio of 15.8:1 (compared with 16.5:1) and redesigned exhaust system.
As with most grunty Golfs, there is a choice of six-speed manual or six-speed dual-clutch DSG automatic transmissions.
Unsurprisingly the GTD shares some of the sporty styling cues of its petrol sibling, the GTI, such as special bumpers, side skirts, a boot spoiler, rear diffuser, chrome double-barrelled tailpipes and 17-inch alloy wheels.
Also included are sports seats, suspension and steering wheel plus stainless steel pedals.
Alongside the e-Golf and GTD at Geneva will be the Golf R Cabriolet and tiny Cross Up SUV, neither of which are destined for Australia.


A great initiative by the AP State Government for its employees and pensioners is the recent Employee Health Scheme . This scheme provides Cashless treatment to the employees, pensioners including their dependents.
All regular State Government Employees.
Wholly dependent legitimate children (including step children and adopted children). In case of unemployed daughters, those who are unmarried or widowed or divorced or deserted. In case of unemployed sons, those who are below the age of 25 years or disabled with a disability which renders them unfit for employment.
The total insured under EHF scheme is Rs.3.00 lakhs per family every year on floater basis.
The coverage limit on the beneficiary family will be on a floater basis. The beneficiary family can have the flexibility to avail of the whole coverage limit either one by one by one member or conjointly by 2 or additional members of the family.
The beneficiaries pays monthly contribution to the Trust that is subtracted automatically by the Drawing and Disbursing Officer involved.
Enrolment and Contribution mandatory required. In cases wherever each the spouses are eligible employees/service pensioners, then registration and contribution by each is required, and there shall be no duplication of dependent members of the family at the time of registration.
The eligible beneficiaries are given health cards also referred to as eligibility cards.
The procedure of verification of eligibility of beneficiary under the scheme shall be by on-line authentication of the Health Card details. The beneficiary shall give either the eligibility card or the card number just in case the card is not-available. The employees at the booth within the NWH shall verify the details on-line by accessing the portal. Once the authentication is complete, the eligibility verification ends.
Please spread this message across to all the people who need this.


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Tag Archives: Rolling Stone magazine
War Machine (2017)
Posted on March 28, 2018 by carlosdev
War is an all-American pastime!
(2017) Dramedy (Netflix) Brad Pitt, Ben Kingsley, Tilda Swinton, Topher Grace, Anthony Michael Hall, Scoot McNairy, Lakeith Stanfield, Alan Ruck, Will Poulter, Nicholas Jones, Meg Tilly, Josh Stewart, Tim Downey, Richard Glover, Griffin Dunne, Andrew Byron, Daniel Betts, John Magaro, RJ Cyler, Emory Cohen, Rufus Wright, Sean Power, Sian Thomas, Paul Hickey, Georgina Rylance. Directed by David Michôd
Netflix has been producing original movies for several years but their Adam Sandler comedies aside, their first serious attempt at a blockbuster of their own was this fictionalized Brad Pitt film based on a non-fiction book about the War in Afghanistan. It is not a promising start, although they have several films that have been released since then that are far better and far bigger.
The movie is meant to be a black comedic commentary on the nature of 21st century war as practiced by the United States. It moves at a kind of snail's pace (at roughly two hours long, it is about a half hour too much) through a bloated script full of unfunny bits. The fault here isn't Pitt's although this is perhaps his most deranged work yet; his General Glen McMahon is a walking tic machine, exhorting troops that "We WILL prevail" at the same time expressing frustration with the bureaucracy he has to deal with. His square-jawed expression is the epitome of every Hollywood American military commander yet his odd gait looks like he has some sort of wound in his genitals.
Despite having a cast of some of the best actors and character actors working today, there are simply too many roles and you forget who is who after about five minutes, leading to further confusion that the screenplay hasn't already caused itself. This has all the earmarks of moviemaking by committee.
I liked the concept and thought that given the pedigree of Michôd (Animal Kingdom) that this project had promise but it pretty much falls apart of its own weightiness. I get the sense that the filmmakers were told to make a comedy, then told to make a commentary on war, then told to make a drama by the powers that be. What they ended up making was a mish-mash that is neither one nor the other but is a tedious waste of two hours. I expected much better
REASONS TO GO: Even at his most subdued, Pitt still exudes star power.
REASONS TO STAY: The film is bloated and dreadfully unfunny.
FAMILY VALUES: There is war violence and profanity.
TRIVIAL PURSUIT: The film references actual events that took place during the command of Stanley A. McChrystal between 2009 and 2010.
BEYOND THE THEATER: Netflix
COMPARISON SHOPPING: Wag the Dog
NEXT: Suburbicon
Posted in VOD Review	| Tagged 2000s, Afghanistan, Alan Ruck, Anthony Michael Hall, Barack Obama, based on a non-fiction book, Ben Kingsley, Brad Pitt, bureaucracy, cinema, Cinema365, dramedy, end game, Films, Griffin Dunne, gung-ho, John Magaro, Josh Stewart, Lakeith Stanfield, media, Meg Tilly, military aphorisms, movies, Netflix, Nicholas Jones, reviews, Rolling Stone magazine, Scoot McNairy, Stanley A. McChrystal, Tilda Swinton, Topher Grace, VOD Reviews, War Machine, Will Poulter, winning the war	| Leave a reply
Julianne Hough prepares for her next scene in the Broadway version of "There's Something About Mary."
(2012) Musical (New Line) Julianne Hough, Diego Boneta, Tom Cruise, Alec Baldwin, Russell Brand, Paul Giamatti, Catherine Zeta-Jones, Malin Akerman, Bryan Cranston, Mary J. Blige, Will Forte, T.J. Miller, Kevin Nash, Jeff Chase, Celina Beach, Dan Finnerty, Angelo Donato Valderrama. Directed by Adam Shankman
Maybe I'm a bit of a music snob – all right, there's no "maybe" about it – but my idea of fun isn't watching a cover band butcher the hits of classic rock. However, someone had to convince a Broadway producer and then a Hollywood studio that people would love to see it. Thus began a musical that has been a huge success on the Great White Way but would that success translate to the big screen?
Sherrie Christian (Hough) is a bright-eyed blonde travelling from Tulsa on a bus to make it to the bright lights and big city dreams of L.A. And of course the first thing that happens is she gets her suitcase stolen – the one with all her record albums in it, autographed of course. Sherrie is a rocker chick, a lacquer haired blonde who dreams of Night Ranger, Poison, Whitesnake and Journey. She lives for the hard stuff.
Her mugging is witnessed by Drew Boley (Boneta), a barback with dreams of rock stardom. He is a good-hearted sort and when he hears her story, he arranges with his boss Dennis (Baldwin), owner of the world famous Bourbon Club on the Strip, to give her a job as a cocktail waitress. She comes at a critical juncture for the Bourbon. The club is in financial chaos, owing a sizable tax bill. However, help is on the way – Stacee Jaxx (Cruise), the superstar front man of Arsenal, has brought his band to play their last show ever at the Bourbon before Stacee heads out on his own solo career.
Stacee's oily manager Paul Gill (Giamatti) tells Stacee that he will be interviewed by a Rolling Stone reporter, one Constance Sack (Akerman), one who might have a bit of an agenda and one who isn't overly awed by Stacee's sexual attraction. In the meantime, the new mayor (Cranston) and his shrill wife (Jones) who may have a personal vendetta, are taking aim at the Bourbon and are out to shut it down so that the Strip can be cleaned up for rich developers to make a mint on.
Of course things don't go as planned, everybody kind of goes their separate ways including Sherrie and Drew who have become a couple, but a misunderstanding tears them apart. Of course, this being a musical, we know that a happy ending is in sight and rock and roll will save the day.
I have a thing about Broadway musicals that take pre-written songs and plug them into a cookie cutter plot. Mamma Mia kinda got away with it because it was all the music of a single band and as such meshed together well. Hear, there are a bunch of different acts (with a lot of Poison songs, but also from such bands as the ones previously named as well as Starship, Twisted Sister and Bon Jovi.
The problem is that the songs are played pretty much without any passion. Rock requires it, and this has all the energy and passion of canned elevator music. It's just loud guitars instead of soft strings. Most of the cast do their own singing and it's probably better than we have a right to expect. In fact, the acting is pretty solid to but with two notable – and fatal – exceptions.
Hough is best known for her stint on "Dancing With the Stars" and she also has a surprisingly sweet voice (she's done a country album to this point). However, her acting is not quite up to the same standards. Her Sherrie is kind of annoying, to be honest but at least that's better than Boneta, veteran of Mexican telenovelas who is simply bland. His character isn't particularly well-defined to begin with but Boneta adds nothing to him. His voice is pleasant enough but lacks the power to really deliver on his songs.
This is really a mess. It's not the fault of Cruise who gives a performance that reminds me of his work in Tropical Thunder but without the clever dialogue. The leads are attractive but don't really deliver any personality, something this project desperately needed. The plot is forgettable and while the songs are good, there really isn't anything that distinguishes them in the musical numbers from the dancing to the settings. Hough, who is indeed a talented dancer, is even given a turn as an exotic dancer – and yet she almost never dances here. Talk about a wasted opportunity – in fact this whole movie really can be counted as one.
REASONS TO GO: Ummm…you like bar cover bands?
REASONS TO STAY: Some really wooden performances. Uninspiring musical performances. Just a mess in every sense.
FAMILY VALUES: A whole lot of sexual innuendo including some fairly graphic kisses and making out. Lots of drinking – LOTS of it – and some implied drug use. Then there's the foul language…not a ton but enough to be noticeable.
TRIVIAL PURSUIT: The scenes set below the Hollywood sign were actually filmed in Pompano Beach, Florida in a landfill. The real Hollywood sign is fenced out and no public access is permitted.
CRITICAL MASS: As of 6/26/12: Rotten Tomatoes: 41% positive reviews. Metacritic: 47/100. The reviews are unaccountably mixed.
COMPARISON SHOPPING: Mamma Mia!
'80s ROCK LOVERS: Several stars of rock in the 80s make appearances in the protesters-rockers confrontation near the end of the scene. Among those singing "We Built This City" are Nuno Bettencourt of Extreme, Kevin Cronin of REO Speedwagon, Debbie Gibson (yes, that one), Sebastian Bach of Skid Row, and Joel Hoekstra of Night Ranger.
NEXT: Lola Versus
Posted in New Releases	| Tagged 80s, Alec Baldwin, based on a Broadway musical, boy band, Bryan Cranston, Catherine Zeta-Jones, church ladies, cinema, classic rock, Diego Boneta, exotic dancing, Films, Hollywood, interview, Julianne Hough, Kevin Nash, Malin Akerman, Mary J. Blige, movies, musical, New Line Cinema, parental group, Paul Giamatti, reporter, reviews, rock club, Rock of Ages, Rolling Stone magazine, Russell Brand, sex symbol, stripper, Sunset Strip, T.J. Miller, Tom Cruise, Tulsa, Will Forte	| 1 Reply


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Telugu cinema, popularly known as Tollywood, consisting of films in the Telugu language. It is the second largest film production centre in India. In 1977, the film Adavi Ramudu starring N. T. Rama Rao become the first film to collect one crore. The 1992 film Gharana Mogudu, directed by K. Raghavendra Rao and starring Chiranjeevi, is the first Telugu film to gross over  10 crore at the box office.

The following is a list of the highest-grossing Telugu films (including dubbed and simultaneously filmed versions) based on gross.

NOTE: Since Telugu film collection figures have no certain sources, figures are provided on the basis of many sources. Though figures contradict with some reliable sources in some cases, figures which are cited in most sources are only described.

Highest-grossing films worldwide
The Telugu films which grossed a minimum of 150 crore worldwide are listed here.

Highest-grossing films in India

Andhra Pradesh and Telangana

Karnataka

Worldwide opening records

Biggest worldwide opening day gross

Biggest worldwide opening week gross

Highest-grossing films by month

Highest-grossing films by year

Highest-grossing films in the United States

The USA gross figures film which have grossed $2 million ore more are only listed here.

Highest-grossing film franchises

See also

 List of highest-grossing Indian films
 List of highest-grossing Tamil films
 List of highest-grossing Hindi films
 List of highest-grossing Kannada films
 List of highest-grossing Malayalam films
 List of highest-grossing Punjabi films
 List of highest-grossing Indian Bengali films
 List of highest-grossing South Indian Films

Notes

References

Telugu
Telugu films


text:
Reader's Choice Contest
College Experts Club 2016
Palestine, TX (75801)
Overcast. Slight chance of a rain shower. High near 65F. Winds SE at 5 to 10 mph..
Rain likely. Thunder possible. Low around 60F. Winds S at 5 to 10 mph. Chance of rain 90%.
Palestine, Texas
Children's author Dianna Hutts Aston of Houston will star in the Dogwood Literacy Festival at the library Friday and Saturday.
editor's pick featured
Literacy festival honors moon landing mission
PennyLynn Webb
Join the United Way and the Palestine Library in celebrating one small step for man, one giant leap for mankind and literacy this Saturday.
"For this year's Dogwood Children's Literacy & Arts Festival, we celebrate the 50th anniversary of the moon landing," said Tarah Thompson, director of the United Way of East Central Texas. "We are excited that Dianne Hutts Aston, who wrote "The Moon over Star" a book about the moon landing, will be the featured author for this year's dinner event."
The author dinner, "Dinner with Dianna" will take place at 6:30 p.m. Saturday at the Palestine Public Library.
Aston, 54, specializes in children's books on science and nature. She attended the University of Houston to study journalism and political science. She has gained acclaim in literary and science circles for her poetic style.
"The Moon over Star" is a book about a little girl named Mae, watching the moon landing on television with her family on July 20 in 1969. She hopes that, one day, she will also go there.
"It's exciting that this book will highlight the 50th anniversary of the moon landing," Thompson said. "We hope each child leaves the festival with a love of literacy, and are inspired to shoot for the moon."
The Moon over Star is a Coretta Scott King awarded book, as well as 2009's Bank Street's Best Books of the Year, and The Great Lakes Great Books Award nominee in 2011.
The book was chosen by Barack and First Lady Michelle Obama to read to children in 2009 at Capital City Public Charter School in Washington D.C.
In 2011, astronaut Leland Melvin read "The Moon over Star" to children at Ferebee-Hope Community School in Washington D.C. for a partnership with "Reading is Fundamental," and Black History Month.
Attendees will have dinner with the author, listen to a live reading, and have a Q&A with her, all before leaving with an autographed copy of her book.
Tickets to "Dinner with Dianna" are $15. They're on sale at The Palestine Public Library, as well as Commercial Bank of Texas.
The Learning Festival is scheduled for the next day from 10 a.m. to 2 p.m. at the Palestine Public Library.
This year's festival will feature two other published authors: Kat Kronenberg, author of "Dream Big;" and Claudia Villarreal, author of "The Bully who Learned to Love."
All three of the authors will perform dramatic readings of their own books. "These three authors will be available for autographs in the "To the Moon" bus from Austin, a renovated and redesigned school bus.
The United Way thanks the Palestine Public Library, the City of Palestine, Palestine Regional Medical Center, Commercial Bank of Texas, and Palestine Heat & Air for helping make the event successful.
Palestine Public Library
The Moon Over Star
Dianne Hutts Aston
Posada, Carlotta
Funeral Mass for Carlota Posada,70, will be 3:30pm Sunday,January 19,2020 at Sacred Heart Catholic Church. Burial follows at St. Josephs Cemetery. Rosary will be 5:00pm Saturday,January 18th at Herrington Funeral Home with visitation following until 7:00pm. View online:www.herringtonfuneral.com.
Vickery, Terri
Services for Terri Vickery, of Palestine will be at 3:00 P.M. Sunday at First United Methodist Church. Burial will follow in Land of Memory Cemetery. Visitation will be 5:00 to 7:00 P.M. Saturday at Bailey & Foster.
THORN, Mellie
TILSON, Nancy
BROOKS, Earl
Local man dead after weekend car wreck
Council blasts Mahoney, Cloer for lack of communication
Old Elkhart fire station owners face fines
Local artist, mother, killed in fire
Damaged roof jeopardizes MCEC services
Local women create haven for area girls
Updated: Grapeland student suspended after threats
Death without conviction: Texas jail deaths hit record number in 2019
Commission opposes rezoning
The music dies
palestineherald.com
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Palestine, TX 75801
Email: jmienk@palestineherald.com
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Indian hacker group kicked-out by Facebook
Filed Under: Facebook, facebook hacker, Indian Hacker, News NewTechie.com Admin
The Indian arm of a hacker group 'Anonymous' - called Anonymous Operation India - has been removed from Facebook and Twitter. Both the 'Operation India' Facebook page and '@operationindia' Twitter handle are no more accessible.
'Anonymous' is a 'hacktivist' group that has been linked to the recent attack on Sony as well as against the governments of Iran, Spain, New Zealand and Colombia. Their operations started in India recently and came into the limelight when they claimed to have hacked the National Informatics Centre website and the Indian Army website last week .
Click to Expend
The NIC site on the URL http://informatics.nic.in/oldnewsonline/abc.html was defaced with graffiti that said: "We exist without nationality. We exist with humanity. NIC took 3 mins."
In a similar hack, the Indian Army's website was reportedly taken down for about an hour. According to www.hackernews.com, the hackers also released password/ login information and forensic logs of indianarmy.nic.in. The Denial of Service (DoS) attack reportedly did not harm the site and there was no data loss. The site also quotes a message from them that states, "We took Down Indian Army Official Site and NIC knows more what we did."
Read More at NDTV Gadgets


At Malahini we strive to create a casual environment where both our travellers and crew feel a sense of belonging.
Elysees Ceramic - Paris - 3 Nights including Cruise & Dinner at the Eiffel Tower!
Spend 3 nights in Paris and experience a cruise along the River Seine and dinner at the Eiffel Tower!


NS 11101.1 Labelling and Declaration of Environmental Attributes of Building Products—Type 1 Product Category Ecolabel Standard - Masonry Products.
Throughout 2014, NSDO's Masonry Product Category Working Group supervised the technical work underpinning the Standard. The baseline assessment, NS MP 101-1, included a life cycle impact assessment of a broad range of different masonry products used in equivalent applications in the Australian building industry. The Working Group members are specialists in the field of masonry who contributed industry knowledge and supervised the work. They defined a functional unit for masonry to compare different products on a fair basis across the product life cycle of masonry in regard to relevant environmental impacts.
This technical basis was published recently as a miscellaneous publication, NS MP 101-1. The functional unit for masonry was determined by examining the range of variation of product parameters and performance among masonry products available commercially in Australia. The assessment allows for various climatic zones around the continent. The environmental impact categories were defined by sensitivity analysis of the energy, materials and chemicals that contribute most to environmental effects caused by masonry products.
The significance of having a Standard for a Type I Australian ecolabel for masonry is that it provides a uniform basis for comparison. It enables a masonry label to indicate multiple environmental criteria (not just single issues and simplistic impacts). An ecolabel set in accordance with this Standard can distinguish the best Australian masonry products overall.
The NS 11101.1 masonry Standard and its baseline assessment document NS MP 101-1 are available for download.


text:
Q: How to tell if certain pre-2015 app is 64 bit? As there are quite some rumors, about iOS 11 dropping support for 32 bit apps, I need to know, how to tell if an app is 64-bit. I know, that if it was published after february 2015, or if it was updated after june 2015, it has to have 64-bit support. But the app in question - IPELA Communication Mobile by Sony Corporation - was last updated on June 10th 2015. How can i be absolutely sure, that - just in case the rumors come true - I can still use it?

A: The easy way for me is to install the app on iOS 10.3 (or later) device.
Then open the settings app.

*

*tap general

*tap About

*tap Applications

iOS will report on the possibility to update all 32 bit apps you have installed on the device by letting you tap to each entry in the App Store where the developer web site is another tap away.

redpajama_set_name: RedPajamaStackExchange


Katie and James created the ultimate woodland theme featuring birds, rabbits and daisies.
We knew Field Place was the one after our first visit there. It ticked all the boxes for us. Not only were the venue and grounds lovely, but we were able to hold the whole day in one place and have the afternoon tea wedding breakfast we so desperately wanted.
Our favours for the adults were bath bombs wrapped in hessian and twine, which also acted as a place name as they had the guests' names on.
We made our table plan from an old fruit crate decorated with daisy garlands, moss and twine which we hung luggage tag-shaped card on to using pegs. We also paired this with another crate that we'd turned into our postbox.
The top table was my favourite; it boasted a real moss table runner with a selection of small bottles and vases holding single stem flowers. Daisies and candles were scattered in the moss and there were two blue lovebirds right in the centre to tie in our woodland theme.
Our centrepieces were dusky pink vases with rabbits on which were placed on a single log slice and held an array of flowers that looked like they had just been picked from a garden including small daisies, blue delphiniums, pink snapdragons and greenery.
Our flowers for the whole day were provided by The Flower Shop in Wick, Littlehampton and the brief was 'rustic, woodland and whimsical'.
We had dried delphinium petals scattered up the aisle in the ceremony room and packets of dried delphiniums on the chairs for the guests to use as confetti.
Our cake was created by Biggs Bakery. It really showed off our theme perfectly with the two lovebirds sitting on the tree and scattered daisies. The detail on the cake blew us away and was more than we expected.
Our tables were named after birds, not only to tie in with theme but the road names where we both live are names of birds, so each table was titled from a road on our estate to highlight the importance of where we live and met.
I accessorised with a very simple chapel-length ivory veil, pearl haircomb, and a pair of dusky-blue court-style shoes for my something blue and to complement the colour scheme. My bouquet was a rustic arrangement made up of daisies, blue delphiniums, pink snapdragons and greenery hand-tied with lace ribbon made to look just-picked.
My dress was by Lillian West and as soon as I put it on I knew it was the one. From the illusion neckline to the stunning lace detail on the back; I loved how it hugged my figure showing off James' favourite feature of me which is my bum! But what really sealed the deal was the daisy detailing on the dress.
James wore a dark grey suit with grey waistcoat, tweed tie and tweed handkerchief to make him different from his groomsmen.
We had a local DJ, Dave Hunt, to entertain our evening guests; we told him to play all the cheese that would get the kids and adults up dancing - we just wanted it to be a real good party.
Our three young bridesmaids wore knee length, pale blue and flowery pleated dresses from Monsoon paired with pink cardigans, pink shoes and flowers in their hair.
We had a candy floss and popcorn stall, and had a kids table with sweets and balloons.
We felt really excited that the day had finally arrived but also nervous about what we were about to do. Once the ceremony was over that was when we really started to enjoy ourselves.
Afternoon tea was amazing, and we had so many compliments from guests about how nice the food was.
The magic mirror that Field Place supplied was probably the highlight of the wedding for many of the guests. Kids and adults loved being creative with the props!
The father-of-the-bride speech was extra special. My dad was so nervous about doing one that we thought it would be quite short and even my mum wrote one as back-up just in case but he did so well and it was lovely.
Millie from Millie and Max Photography was amazing. We hardly noticed she was there when taking all the natural shots which really captured the essence of such a happy and beautiful day.
The journey to the wedding was a real feature of the day for most of the bridal party, it was on board a vintage double decker bus. The children loved sitting at the top waving at passers by.


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January | 2016 | Edimentals !
Feeling tired but good having worked hard for several hours with my bow saw and axe coppicing this Hazel. A surprising amount of wood on a tree like this. It was probably 15 years ago I did this last… The green bush below the Hazel is a box (Buxus) which is probably 25 years old!
A lot of the snow disappeared from the garden over the last week with temperatures mainly on the plus side and we thankfully missed the worst of the winds on Friday night when a lot of damage was caused elsewhere along the Norwegian coast in a major storm "Tor" in which record wind speeds were recorded on the outer coast. A light snowfall this morning and the sun appeared. A working day in the garden coppicing a Hazel tree… A little sign of spring too with a Christmas Rose about to flower!
I moved 10 buckets of roots and stratifying seeds of edible perennials for sprouting and eating before the spring greens come on tap…filling the hungry gap. These have all been outside exposed to the cold since November.
Bulbils of Egyptian Onion / Walking Onion / Luftløk will have a shock coming from outside into my living room!
Hence, I've renamed it Bear Spinach….Bears in its homeland in the Caucasus surely feast on it too in the spring. Ramsons or Allium ursinum is known as Bärlauch or bear onion in German as bears are known to eat it in spring and if you eat ramsons you'll become as strong as a bear. I'm sure Hablitzia has the same effect!
This redpoll also allowed me to get quite close. This is one of a flock of 30-40 in the garden today together with 10 siskins / grønnsisik.
In mild but cool weather during early winter the last couple of years, Hablitzia has germinated en masse around my mother plant next to my house. These all died in later cold weather last winter. When mass germination happened around Xmas 2015, I therefore decided to rescue them by potting up and bringing them in to a cool room. It was just in time as it froze solid just after with very low temperatures since and now deep snow…here they are today (it's been between 0 and 8C where they are growing).