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It takes 31yrs for average Brit to repay his credit card debt
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Written by ANI   
Thursday, 04 September 2008

London, September 4 (ANI): Customers who rely on plastic to make purchases may take about 31 years to repay their credit card debts, according to a new study.

Pointing out that four out of ten credit card providers ask for just two per cent minimum repayment, the price comparison website uSwitch suggests that the decision of banks to allow their customers to pay back less as a minimum each month over the last year is part of a strategy to recover lost profits from the credit crisis.

Though this may sound attractive to hard-pressed borrowers, a report on the website reckons that around 3.4 million consumers will be left in debt for years to come if they pay back so little.

The report calculates that it will take 30 years and 11 months to repay the average outstanding amount of 1,384 pounds on each card, if a customer pays back just two per cent each month.

Recent data from the Bank of England shows that customers have started to borrow increasing amounts on their credit cards again, and that they are turning to plastic to fund every day purchases.

The report says that credit card providers have been attempting to make more money out of their lower risk customers by reducing the minimum repayment levels, which secures more interest repayments from their customers.

"With the cost of living on the up and people being forced to tighten their purse strings, consumers will be more tempted to just make the minimum repayment on their credit cards and spend the cash on more pressing bills," the Telegraph quoted Simeon Linstead, head of personal finance at uSwitch.com, as saying.

"However, those that opt to manage their credit card debt in this way could end up paying far more than they need to for every purchase made. This type of repayment barely touches the balance and in the majority of cases just covers the interest incurred," Linstead added. (ANI)

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Last Updated ( Thursday, 04 September 2008 )
 
New discovery may offer treatment for hemorrhagic fever
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Written by ANI   
Thursday, 04 September 2008

Washington, Sept 4 (ANI): Scientists at University of Texas Medical Branch at Galveston have identified a major biochemical link in the process by which the Ebola Zaire virus infects cells - a finding that may provide potential treatment for hemorrhagic fever.

Ebola produces severe and often fatal hemorrhagic fever in its victims and inflicts mortality rates close to 90 percent in some outbreaks.

Till date, scientists haven't come up with a vaccine or antiviral therapy to fight against the virus, which is considered a high-risk agent for bioterrorism.

In the latest study, scientists tied Ebola's cellular invasion mechanism to a series of biochemical reactions called the phophoinositide-3 kinase pathway (named for an enzyme found in the cell membrane).

When they activated the PI3 kinase pathway, they found that an Ebola virus particle tricks the cell into drawing it into a bubble-like compartment known as an endosome, which is pulled, together with the virus, into the cell. Later, at a critical point, the virus bursts free from the endosome and begins to reproduce itself.

But, if the PI3 kinase pathway is shut down - as the UTMB team did with a drug designed for that purpose - Ebola virus particles can't escape from the endosome, and the disease process is hampered.

"The nice part about identifying entry mechanisms is you can prevent the virus from infecting the cell. You can stop the whole show before it even gets started," said Robert Davey, UTMB microbiology and immunology associate professor.

The researchers did some of their work using the Ebola Zaire virus itself, and conducted experiments using harmless, hollow, virus-like particles coated with the critical envelope proteins that activate the PI3 kinase pathway.

They also used a unique test created at UTMB that adds a light-emitting molecular beacon, called luciferase, to Ebola viruses and the virus-like particles. And this made them to determine exactly when and where each broke out of its bubble, and track its progress.

"Up to that point, it's really a bus ride for these viruses, and PI3 kinase is the bus driver. Whether you're talking about Ebola or Ebola virus-like particles, they've all got the virus envelope proteins that trigger the PI3 kinase pathway, which is the first step of getting the virus onto that bus," said Davey.

He pointed out that amongst all other viruses that had been found to activate the PI3 kinase pathway, Ebola was the first with envelope proteins that had been seen doing so.

It was also the first virus to be discovered interacting with the PI3 kinase pathway in order to enter cells, which could have profound implications.

"It's actually triggering the reorganizing of the cell for its own devious outcomes - infecting the cell. But there are other possible outcomes of fiddling around with the PI3 kinase. You can get the cell to move, you can get it to live longer, all advantages for a virus. So I'm sure that this is going to be important in other viruses," said Davey.

The scientists are also developing a new generation of drugs that target PI3 kinase, since the enzyme is often activated in cancers. It is possible that these could also be used to defend against Ebola virus.

The study is appearing online in the current issue of the journal PloS Pathogens. (ANI)

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Last Updated ( Thursday, 04 September 2008 )
 
Soon, a safer air traffic control system that will require no human input
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Written by ANI   
Thursday, 04 September 2008

Washington, Sept 4 (ANI): A group of researchers are working on an air traffic control system that will not require any human input, for all variables including weather conditions as well as current airplane locations and probable routes will be monitored by a computer model.

The computer model, University of Texas professor Constantine Caramanis, lead researcher Cynthia Barnhart, and other colleagues from MIT are developing will monitor weather conditions as well as current airplane locations and probable routes.

The new mathematical model combines theories and calculations from probability, statistics, optimization modeling, economics and game theory.

"There is currently no unified decision-making framework for air traffic flow optimization. The complicated nature of the process, and the need to make quick adjustments when changes occur, will best be addressed with a mathematical model that combines theories and calculations from probability, statistics, optimization modeling, economics and game theory," said Dr. Caramanis.

The Federal Aviation Administration (FAA) provides each airline with a set limit of planes that can take off and land during any given timeframe.

These slot decisions are based on estimates of what will optimize air traffic flow, keeping in mind imperfect weather predictions, the changing mix of flights airlines wants to move, and other variables for the thousands of flights that travel through the skies daily. The airlines then choose the flights.

To develop the air traffic optimization model, the researchers will also consider new ways to lessen delays and flight cancellations. For example, they will consider the possibility of allowing airlines to barter for slots when one airline can't get a flight off the ground and others could do so.

"The idea is to have an overarching optimization model that allows balance and flexibility to the decisions being made so that we can successfully exploit whatever slack in the system we can. Our model will have autonomous re-configurability which is the ability to adapt to new information on its own," said Caramanis. (ANI)

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Last Updated ( Thursday, 04 September 2008 )
 
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