Mississippi authorities are investigating the death of State Representative Jessica Upshaw, who was found dead in a suspected suicide at the home of former lawmaker Clint Rotenberry, according to local officials. The death of Republican Rep Jessica Upshaw, 53, of the 95th District in Diamondhead, was confirmed by Simpson County Coroner Terry Tutor. The cause… Continue reading Jessica Upshaw death: Mississippi Republican Rep found shot dead at former state Rep Clint Rotenberry home
Category: Business
Cyprus bailout deal agreed by Eurogroup with Laiki Bank to be wound down
Eurogroup have agreed a deal on a 10 billion-euro bailout for Cyprus to prevent its banking system collapsing and keep the country in the eurozone. Laiki (Popular) Bank – Cyprus’ second-biggest – will be wound down and holders of deposits of more than 100,000 euros will face big losses. However, all deposits under 100,000 euros… Continue reading Cyprus bailout deal agreed by Eurogroup with Laiki Bank to be wound down
Cyprus crisis: Nicos Anastasiades bailout talks with troika leaders delay Eurogroup meeting in Brussels
A key meeting of Eurogroup (eurozone finance ministers) to finalize a crucial bailout for Cyprus has been delayed as talks to hammer out an agreement overran. Cypriot President Nicos Anastasiades is locked in bailout talks with EU, European Central Bank and IMF leaders in Brussels. The finance ministers must decide on Sunday whether or not… Continue reading Cyprus crisis: Nicos Anastasiades bailout talks with troika leaders delay Eurogroup meeting in Brussels
Kit Kat Chunky bars recalled after plastic found
Nestle has decide to recall some of its varieties of Chunky Kit Kat after seven people in UK found pieces of plastic in bars. Peanut butter, hazelnut, choc fudge and caramel 48 g bars are being recalled, along with Kit Kat Chunky collection giant eggs. Nestle said the products should be returned, unopened, for a… Continue reading Kit Kat Chunky bars recalled after plastic found
Cyprus makes significant progress in bailout talks with EU and IMF
Cyprus’ Finance Minister Michael Sarris has announced the country has made “significant progress” in talks with the EU and IMF aimed at securing a bailout. Michael Sarris was also quoted as saying Cyprus was considering a 25% levy on deposits of more than 100,000 euros in its biggest bank. Cyprus has to raise 5.8 billion… Continue reading Cyprus makes significant progress in bailout talks with EU and IMF
Cyprus parliament continues bailout talks after passing banking reforms
Cyprus parliament has voted to restructure the island’s banks, set up a “national solidarity fund”, and establish capital controls to prevent a bank run. Efforts continue to reach consensus on other key issues such as levies on bank deposits. Cypriot President Nicos Anastasiades is to hold talks in Brussels with the EU before Cyprus’s parliament… Continue reading Cyprus parliament continues bailout talks after passing banking reforms
Cyprus parliament approves national solidarity fund
Cyprus parliament has approved a “national solidarity fund” to ease the banking crisis, which has hit confidence across the eurozone. MPs also imposed capital controls to prevent a run on the island’s troubled banks. These are the first of a series of laws intended to raise the 5.8 billion euros ($7.5 billion) Cyprus needs to… Continue reading Cyprus parliament approves national solidarity fund
Lebanon’s PM Najib Mikati steps down
Lebanon’s PM Najib Mikati has announced the resignation of his entire cabinet. The move comes after the deeply divided cabinet failed to approve a commission to oversee elections planned for June. The Lebanese government was also unable to agree on the extension of the term of office of the internal security chief, who is otherwise… Continue reading Lebanon’s PM Najib Mikati steps down
Angela Merkel warns Cyprus not to exhaust eurozone patience
Germany and EU leading bankers have urged the Cypriot parliament to quickly find a way of raising the 5.8 billion euros needed to qualify for an international bailout. German Chancellor Angela Merkel warned Cyprus not to “exhaust the patience of its eurozone partners”, reports say. The head of one of Cyprus’ biggest banks urged MPs… Continue reading Angela Merkel warns Cyprus not to exhaust eurozone patience
Pier Luigi Bersani asked to form new Italian government
Italy’s President Giorgio Napolitano has asked centre-left leader Pier Luigi Bersani has been to try to form a new government, following inconclusive elections. Pier Luigi Bersani’s Democratic Party (PD) won control of the lower house of parliament in February’s poll, but fell short of a majority in the Senate. He has ruled out a coalition… Continue reading Pier Luigi Bersani asked to form new Italian government
Nicolas Sarkozy placed under formal investigation in Bettencourt case
France’s ex-President Nicolas Sarkozy has been placed under formal investigation over claims his 2007 election campaign received illegal donations from L’Oreal heiress Liliane Bettencourt, France’s richest woman. Nicolas Sarkozy is accused of accepting thousands of euros from Liliane Bettencourt, now aged 90. The former president denies taking financial advantage of Liliane Bettencourt. Nicolas Sarkozy’s lawyer… Continue reading Nicolas Sarkozy placed under formal investigation in Bettencourt case
Cyprus drops controversial bank levy in a new bailout plan
The Cypriot political leaders have dropped the unpopular levy on bank deposits in a new bailout plan. There was outrage over an earlier plan to tax all bank deposits. Cyprus’ banks, which have been shut all week to prevent mass withdrawals, are to stay closed until next Tuesday, March 26. Cyprus is required to find 7… Continue reading Cyprus drops controversial bank levy in a new bailout plan
Volkswagen to recall nearly 400,000 cars in China
Volkswagen has decided to recall 384,181 cars in China to replace a part of their gearboxes, its largest recall in the country to date. Last week, Chinese state television showed Volkswagen consumers reporting sudden acceleration and loss of power. Volkswagen said the direct-shift gearboxes could cause a power interruption, but drivers could remain in control… Continue reading Volkswagen to recall nearly 400,000 cars in China
Cyprus banks to remain closed until March 26
Cyprus officials have announced the country’s banks, which were closed to prevent mass withdrawals, will remain shut until at least Tuesday, March 26th. The Cypriot government began an emergency meeting this afternoon to discuss alternatives to the EU-IMF bailout deal rejected by parliament on Tuesday. Reports say the cabinet is considering imposing capital controls when… Continue reading Cyprus banks to remain closed until March 26
Lufthansa cancels more than 500 flights ahead tomorrow’s strike
Lufthansa has cancelled more than 500 flights in advance of a strike by workers on Thursday. The Verdi union has called on 33,000 employees to stage a five-hour walkout in a row over wages and conditions. Verdi is calling for a 5.2% increase in wages for employees at several Lufthansa divisions. But the German airline… Continue reading Lufthansa cancels more than 500 flights ahead tomorrow’s strike
Marmite returns to New Zealand stores after surviving Marmageddon
Marmite has returned to New Zealand supermarkets for the first time in over a year, after shortages caused by the Christchurch quake. The February 2011 quake damaged the only factory in the country that produces Marmite, forcing it to close. Stocks then dwindled, leading to shortages dubbed “Marmageddon” by media, from early 2012. The factory… Continue reading Marmite returns to New Zealand stores after surviving Marmageddon
Death Wish Coffee: World’s strongest coffee contains 200% more caffeine than average cup
Death Wish Coffee is an US-based company claiming to produce the first and last cup of coffee ever needed to kick start your work day. Death Wish, a medium-dark roast coffee blend roasted in up-state NY, claims to be the “most highly caffeinated premium dark roast organic coffee in the world”. The brand, featuring a… Continue reading Death Wish Coffee: World’s strongest coffee contains 200% more caffeine than average cup
Assault weapons ban dropped from US Senate bill
US Senate Democrats will ditch a plan to ban assault weapons, all but killing off a key part of a gun control campaign prompted by a recent school massacre. Democratic Senator Dianne Feinstein said her proposal would be left out of the firearms control bill. Democratic Senate leader Harry Reid made the decision, saying the… Continue reading Assault weapons ban dropped from US Senate bill
Cyprus’ parliament rejects controversial levy on bank deposits
Cyprus’ parliament has rejected the controversial levy on bank deposits, proposed as part of an EU-IMF 10 billion-euro ($13 billion) bailout package. No MPs voted for the bill, with 36 voting against and 19 abstaining. Cyprus’ finance ministry had modified the package, proposing an exemption for savers with smaller deposits, but opposition had remained fierce. Thousands… Continue reading Cyprus’ parliament rejects controversial levy on bank deposits
Lululemon forced to recall black Luon yoga pants and crops
Lululemon Athletica has been forced to take its black yoga pants off the shelves because the sheer material reveals too much. Lululemon said yesterday that it took the pants off its store shelves and website over the weekend due to an unacceptable “level of sheerness” created during the manufacturing process. That means there will be… Continue reading Lululemon forced to recall black Luon yoga pants and crops
HSBC faces fresh accusations of money laundering in Argentina
HSBC, which was hit with a $1.9 billion US fine for money laundering last year, is facing fresh accusations of illegal activity in Argentina. Argentina has alleged that HSBC used “fake receipts” to facilitate money laundering and tax evasion, and launder 392 million pesos ($77 million). The country’s tax authority said it had filed criminal… Continue reading HSBC faces fresh accusations of money laundering in Argentina
Israel’s new government sworn in after two months of negotiations
Israel’s new coalition government, led by Benjamin Netanyahu, has been sworn in after nearly two months of negotiations between political parties. Benjamin Netanyahu will return as prime minister, heading a coalition that includes parties that support Jewish settlements on Palestinian land. Settlement supporters have secured the defence and housing ministries. But ultra-Orthodox Jewish factions have… Continue reading Israel’s new government sworn in after two months of negotiations
Cyprus banks closed until March 21st
Cyprus’ central bank has announced that the nation’s banks will stay closed until Thursday, March 21, as fears mount of a bank run. Cyprus’ banks were closed for a scheduled Bank Holiday on Monday, something that allowed the country to try to implement a levy on savers’ deposits. That move triggered unease among depositors in… Continue reading Cyprus banks closed until March 21st
Cyprus parliament vote on bailout deal delayed until Tuesday
Cyprus’ parliament vote on bailout deal that has sparked huge public anger has been delayed until Tuesday. President Nicos Anastasiades has been meeting MPs in Nicosia and has indicated he wants the terms amended. The 10 billion-euro ($13 billion) bailout agreed with the EU and IMF had demanded that all bank customers pay a one-off… Continue reading Cyprus parliament vote on bailout deal delayed until Tuesday
Asian and European markets fall after Cyprus bailout deal
European markets follow Asian shares downward on fears that the plan to bailout Cyprus could trigger an escalation of the eurozone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10 billion euros ($13 billion). London’s 100 share index is 1% lower, while France… Continue reading Asian and European markets fall after Cyprus bailout deal