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Codeine in Children Deadly
Codeine in Children Deadly

The U.S. Food and Drug Administration on Wednesday advised that health-care professionals and parents should be aware of the deadly risks of using codeine in children who have had their tonsils and/or adenoids removed to treat obstructive sleep apnea syndrome. The FDA noted in a statement that three children recently died after taking codeine following surgery to remove tonsils and/or adenoids while another child suffered from a life-threatening case of respiratory depression - each child received dosages that were within the typical range. The FDA said it is conducting a review of "adverse event reports" related to the post-operative use of codeine in children. "If parents or caregivers notice signs of overdose in a child, such as unusual sleepiness, difficulty being aroused or awakened, confusion, or noisy and difficult breathing, they should stop giving the child codeine and seek medical attention immediately," the FDA said.

The U.S. Department of the Treasury released Treasury International Capital (TIC) data for June 2012, on Wednesday. The sum total in June of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $16.7 billion. Of this, net foreign private inflows were $28.8 billion, and net foreign official outflows were $12.1 billion. Foreign residents increased their holdings of long-term U.S. securities in June with net purchases at $5.5 billion. Net sales by private foreign investors were $1.4 billion, and net purchases by foreign official institutions were $6.8 billion. At the same time, U.S. residents decreased their holdings of long-term foreign securities, with net sales of $3.9 billion. Taking into account transactions in both foreign and U.S. securities, the net foreign purchases of long-term securities were $9.3 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, the overall net foreign acquisition of long-term securities is estimated to have been negative $6.0 billion in May. Foreign residents increased their holdings of U.S. Treasury bills by $1.7 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities decreased by $1.0 billion. Banks’ own net dollar-denominated liabilities to foreign residents increased by $23.7 billion. The next release, which will report on data for July 2012, is scheduled for September 18, 2012.  

The National Association of Home Builders/Wells Fargo reported Wednesday that builder confidence in the market for newly built single-family homes surged in August to the highest level seen in more than five years - on expectations the recovery in housing can continue. The housing market index rose 2 points to a seasonally adjusted reading of 37 striking the best level since February 2007. The component measuring current sales conditions rose 3 points to 39, and the component measuring traffic of prospective buyers rose 3 points to 31. The component measuring sales expectations in the next six months rose a point to 44.

After two months of slight growth, the Federal Reserve said Wednesday that industrial production picked up by 0.6% in July after slight monthly gain of 0.1% in May and June. Previously, the Fed reported a 0.4% gain in June and a 0.2% drop in May. Capacity utilization rose to 79.3% in July from 78.9% in May striking the highest level since April 2008.

The U.S. Department of Labor reported Wednesday that U.S. consumer prices remained unchanged in July, as lower energy prices offset gains in food and other items. An index of energy prices declined 0.3% in July, while the food index rose 0.1%. Core consumer price index rose 0.1%, which excludes the volatile categories of food and energy. Overall consumer prices remained unchanged in June while core gauge rose 0.2%. The CPI rose 1.4% over the year through July striking the smallest 12-month change since late 2010. The core rate gained 2.1% over the past 12 months for the smallest gain since late 2011. The Labor Department also reported that real average hourly earnings were unchanged in July, compared with a 0.3% gain in June.

The New York Federal Reserve Bank said Wednesday that the Empire State manufacturing index dropped sharply to negative 5.9 in August, the first time activity has contracted in nine months, with a larger than expected decrease. The key new orders sub-index remained weak, falling to negative 5.5 in August from negative 2.7 in July. Unfilled orders rose slightly to negative 10.6 in August from negative 13.6 in July.


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Aug 15, 2012


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