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VW Results Delayed Due to Emissions Scandal

VW has announced that it will not release its results nor hold its shareholders’ meeting on time, as it needs more time to work out its accounts as a result of 2015’s emissions crisis.

The automaker was due to release results on March 10 and hold its shareholders’ meeting towards the end of April.

Volkswagen has not said by how much these events will be delayed.

The company says results will be about the same as in 2014, although the cost of the crisis will eat into those.

VW said it was working on “valuation calculations”.VW results delayed 2016

Sales in VW-branded cars dipped last year after the scandal – which affected 11 million cars – came to light in September. Deliveries fell 5.3% in October, 2.4% in November and 7.9% in December compared with those months in 2014.

It was its first drop in VW-branded sales in 11 years as the company continues to cope with the emissions scandal.

VW has promised it will have a fix in the coming weeks for the millions of US cars with defeat devices that disguised emission levels in diesel cars.

Sales of VW-brand cars fell 4.8% in 2015 to 5.82 million cars from 6.12 million a year earlier.

The Environmental Protection Agency (EPA) is suing the company over what it says were 600,000 affected vehicles and a US law firm is conducting an investigation into who made the decisions to cheat.

VW says it is sticking to its plan to publish the findings of its investigation into the scandal in the second half of April.

Results from Porsche, which is owned by Volkswagen, are also being delayed.

US Jobs Report: Economy Adds 151K Jobs in January 2016

According to the new data from the Bureau of Labor Statistics, the US economy added 151,000 jobs in January 2016.

The new jobs helped to push the US unemployment rate down to 4.9%.

The number was lower than expected and is a sharp slowdown from December 2015, when 292,000 jobs were added.

Job losses in transport and education weighed on the numbers, the Bureau of Labor Statistics said.

Last week, figures showed that US economic growth slowed to an annual rate 0.7% in the final three months of 2015, from 2% in the previous quarter.

Early trading on Wall Street suggests investors are concerned that the slowdown in job creation could be a further signal of a weakening US economy. The main Dow Jones was down 189 points, or 1.2%, at 16,227.43 in early-afternoon trading.

Photo Getty Images
Photo Getty Images

However, some analysts focused on the positive – that weaker job numbers meant another rise in interest rates was unlikely for now.

President Barack Obama highlighted the low unemployment rate as he plugged aspects of his spending bill to be proposed next week. He plans to push for greater investment in clean energy, where jobs growth has been strong.

The president acknowledged that there was still anxiety among Americans, but said the US economy was “stronger and more durable” then before the financial crisis.

Retailing saw the highest number of jobs created in January, at 58,000, with healthcare adding 37,000 and manufacturing 29,000.

Some 39,000 jobs were lost in private education services, however, with a further 20,000 lost in transport and warehousing.

The net job creation pushed the unemployment rate below 5% – where it had stood for the previous three months – to its lowest level since early 2008.

The labor participation rate was unchanged, suggesting fewer people are dropping out of the labor market – a key problem during the financial crisis.

The average hourly rate rose by 12 cents, or 0.5%, to $25.39.

https://www.youtube.com/watch?v=-9O7C5uVL_4

NYC Crane Collapse Kills at Least One Person in Lower Manhattan

A massive crane has collapsed in lower Manhattan, killing one person and injuring at least two others.

The FDNY confirmed the fatality and is on the scene responding to the accident.

The collapse happened along Broadway on February 5 in the Tribeca neighborhood.

The downed crane, which filled the street, fell onto numerous parked cars.Tribeca crane collapse

Emergency responders are on the scene and Mayor Bill de Blasio is on his way.

The weather in New York City this morning was windy with snow flurries.

It is not yet known exactly why the crane collapsed, but photos show that the base of the crane flipped over.

Public transportation is delayed and subway trains are bypassing the area due to the collapsed crane.

Police officers in the area told people arriving for work they should go back home.

Pope Francis to Meet Patriarch Kirill in Cuba

Pope Francis will meet the head of Russian Orthodox Church, Patriarch Kirill, in Cuba next week.

The Russian Orthodox Church said the “persecution of Christians” would be the central theme of the historic meeting.

Pope Francis will stop over in Cuba on his way to Mexico.

It is the first papal meeting with a Russian Church head since the Western and Eastern branches of Christianity split in the 11th Century.

The meeting is due to take place at Havana airport, where Pope Francis and Patriarch Kirill will sign a joint declaration.

Patriarch Kirill is due in Cuba for an official visit at the same time as Pope Francis’ stopover in Havana.Pope Francis and Patriarch Kirill

In a joint statement, the two churches said the meeting would “mark an important stage in relations between the two churches”.

They invited “all Christians to pray fervently for God to bless this meeting, that it may bear good fruits.”‘

Since becoming Pope in 2013, Francis has called for better relations between the different branches of Christianity.

The foreign policy chief of the Russian Orthodox Church, Metropolitan Illarion, told reporters that there were still differences between the two churches, but that international events had pushed the leaders to meet.

Metropolitan Illarion said: “The situation in the Middle East, in northern and central Africa and in other regions where extremists are perpetrating a genocide of Christians, requires immediate action and an even closer cooperation between Christian churches.

“In this tragic situation, we need to put aside internal disagreements and pool efforts to save Christianity in the regions where it is subject to most severe persecution.”

Patriarch Kirill has been the head of the Russian Orthodox Church since February 2009, while Pope Francis took up his role in March 2013.

The Roman Catholic Church has more than a billion members worldwide, while the Russian Orthodox Church numbers about 165 million.

The Orthodox Church is made up of more than 10 separate churches. The Vatican has existing ties with the Istanbul-based Ecumenical Patriarch, Bartholomew I, but this will be the first meeting between the Pope and the patriarch of the Russian Church, which is the largest and most powerful Church in Orthodoxy.

Toyota Reports 4.7% Rise in Q4 Net Income

Toyota has reported a 4.7% year-on-year rise in net income for Q4 of 2015, to 627.9 billion yen ($5.37 billion), due in part to stronger sales in the US.

The Japanese company, the world’s biggest automaker, also raised its North America sales forecast for the full year to March, because of the higher US demand.

However, operating profit for the quarter fell by 5.3%, missing forecasts.

The car industry has been hurt by a global slowdown, particularly in China.

Toyota said net income for the year to March was still likely to come in at 2.27 trillion yen.

“Our latest forecast remains unchanged from the previous forecast, having reflected both positive factors – such as progress in cost reduction and the weaker-than-expected yen so far,” managing officer Tetsuya Otake said.Toyota profit 2015

In the nine months to December, Toyota said consolidated vehicle sales came in at 6,492,784 vehicles – a decrease of 246,374 compared with the same period last a year earlier.

It said sales in North America had increased by 33,032 vehicles to 2,140,655 because of strong demand from the US.

In Asia, however, vehicle sales fell by 112,478 vehicles to 1,016,235 over the nine months.

In the face of slowing global growth, Toyota has been trying to cut costs and improve productivity at its factories. It has also faced a string of recalls in recent months.

Earlier this week, Toyota announced a recall of 320,000 trucks and SUVs over problems with airbags, saying they could inflate without a collision.

In November 2015, Toyota recalled 1.6 million vehicles equipped with faulty airbags. In October 2015, Toyota recalled 6.5 million vehicles over a faulty window switch.

The company has recalled about 15 million vehicles fitted with the bags since 2013.

On February 5, Toyota also announced a share buyback of about 150 billion yen worth of outstanding shares.

Despite the recall worries, Toyota won back the crown of the world’s largest automaker by sales in the first nine months 2015 from Germany’s Volkswagen.

Asian Markets Trade Mixed Ahead of US Monthly Jobs Report

Asian shares were in mixed territory on February 5 ahead of a closely watched US monthly jobs report.

Japan’s Nikkei 225 closed down 1.32% to 16,819.59 points as a stronger yen against the dollar hurt the country’s big exporters for a second day.

Toyota and Honda shares finished the day down about 2%, while Mazda shed nearly 5%.

At the close of trade, Toyota reported a 4.7% rise in net income for the three months to December.Asian stock markets February 2016

However, the company’s operating profit for the quarter fell by 5.3%, missing forecasts.

Australia’s S&P/ASX 200 spent the day in negative territory and closed flat, down 0.08% to 16,819.59.

The country’s big lenders had weighed on the market and analysts said traders were being cautious ahead of a US jobs report due out later.

Energy companies regained lost territory late in the day, however, with Woodside finishing up 0.41% and rival Santos up 2.2%. Mining giant BHP finished up close to 5%.

Official numbers released earlier showed Australia’s retail sales had come in flat for the month of December – a 0.4% gain was expected.

However, analysts said the numbers still supported economic growth.

In Hong Kong, the Hang Seng was up 0.4% to 19,255.88 points in afternoon trade, while the mainland’s benchmark Shanghai Composite closed down 0.63% to 2,763.49.

South Korea’s Kospi index closed flat, up just 0.08% to 1,917.79.

Aphonopelma Johnnycashi: New Tarantula Named after Johnny Cash

Legendary country singer Johnny Cash has been given a unique honor – a new species of an almost all-black tarantula that lives near Folsom Prison, California, has been named after him.

Johnny Cash wrote a song about the prison, and also played a historic series of concerts for inmates there in the 1960s.

Aphonopelma johnnycashi is among 14 new tarantula species from the southern US which have been described by biologists in the journal ZooKeys.

Their study completely rewrites the family tree of the Aphonopelma genus.

One of dozens of tarantula genera, this group was previously considered to include more than 50 separate species.

As part of his PhD research at Auburn University in Alabama, Chris Hamilton carefully whittled that down to 29. He eliminated a lot of double-counting, but also defined 14 species that were entirely new to science.

“We really tried to clean the taxonomy up,” said Dr. Chris Hamilton, now a postdoctoral researcher at the Florida Museum of Natural History.Black tarantula Johnny Cash

“The only way we could do that was by looking at over 3,000 specimens, both from the wild and from natural history collections.

“A lot of previous names got eliminated. But there were 14 that were genuinely unique and new.”

Aphonopelma johnnycashi, however, was found roaming the wilds of California.

“It’s found along the foothills of the western Sierra Nevada mountains, and one of the places that’s there is Folsom Prison,” Dr. Chris Hamilton explained – and it wasn’t a giant imaginative leap from there to the species’ new moniker.

“It’s a perfect name. It fits the spider – it’s found around Folsom and the males are predominantly all black, so it fits his image.

“I have a Johnny Cash tattoo so I was very happy that it worked out that way.”

Dr. Chris Hamilton thinks that one reason the species had not been previously recognized is its similarity to other species of tarantula, such as Aphonopelma iodius which is common in the Mojave desert further south.

Hillary Clinton Clashes with Bernie Sanders in First One-To-One Democratic Debate

The first one-to-one Democratic debate saw Hillary Clinton and Bernie Sanders clashing over Wall Street and foreign policy.

Hillary Clinton cast Bernie Sanders as an idealist who will not get things done and Sanders accused the former Secretary of State of being too tied to the establishment to achieve real change.

The MSNBC debate in New Hampshire was their first since the Democratic race was whittled down to two this week.

Without a third person on stage, the policy differences were laid bare.

Hillary Clinton said Bernie Sanders’ proposals such as universal healthcare were too costly and unachievable.

She went after her rival aggressively over his attempts to portray her as being in the pocket of Wall Street because of the campaign donations and the fees she had received for after-dinner speeches.

Photo Reuters
Photo Reuters

Vermont Senator Bernie Sanders used a favorite attack line against Hillary Clinton that she backed the Iraq War, but she questioned his foreign policy expertise.

The debate comes five days before the second state-by-state contest in the battle for the presidential nominee, in New Hampshire on February 9.

Despite the tensions over policies, the debate ended on a warm note, when Hillary Clinton said the first person she would call would be Bernie Sanders, if she won the nomination.

The debate was their first without the presence of the former governor of Maryland, Martin O’Malley, who quit the race on February 1.

Martin O’Malley was a distant third in the first state to vote, Iowa, where Hillary Clinton narrowly beat Bernie Sanders after a prolonged count.

Bernie Sanders holds a big lead in polls in New Hampshire, which borders the state where he is a senator, Vermont.

Both Republican and Democratic parties will formally name their presidential candidates at conventions in July.

Americans will finally go to the polls to choose the new occupant of the White House in November.

https://www.youtube.com/watch?v=2-bjv7X5tks

Maurice White Dies in Los Angeles Aged 74

Maurice White, the founder of soul group Earth, Wind & Fire, has died in Los Angeles at the age of 74.

According to his brother, Maurice White died in his sleep on February 4.

The singer suffered from Parkinson’s disease.

Maurice White’s band had a series of hits including September, Boogie Wonderland, Shining Star and After the Love has Gone.

He was diagnosed with Parkinson’s in 1992 but his condition was reported to have got worse in recent months.

Earth, Wind & Fire were inducted into the Rock and Roll Hall of Fame in 2000, and Maurice White was individually inducted into the Songwriters Hall of Fame in 2010.

Popularly known by his nickname of Reese, Maurice White worked with various well-known recording artists such as The Emotions, Barbra Streisand, Cher and Neil Diamond.Maurice White dead at 74

Earth, Wind & Fire have sold more than 90 million albums worldwide.

Verdine White, also a member of the band, told The Associated Press on February 4: “My brother, hero and best friend Maurice White passed away peacefully last night in his sleep.

“While the world has lost another great musician and legend, our family asks that our privacy is respected as we start what will be a very difficult and life changing transition in our lives. Thank you for your prayers and well wishes.”

A former session drummer, Maurice White formed a band called Salty Peppers in the Chicago area in the late 1960s.

He subsequently moved to Los Angeles, disposing of all of the band members except his brother Verdine. The band was renamed Earth, Wind & Fire after the three elements in his astrological chart.

Many of the group’s earlier hits were characterized by Bailey’s bright falsetto voice.

Earth, Wind & Fire is perhaps best known for its exuberant, horn-driven mix of jazz, funk, gospel and Big Band music played at concerts where they performed in glitzy costumes underneath multi-colored lights. They played at many top venues including the Super Bowl and the White House.

Zika Outbreak: First Case Reported in Europe

A pregnant woman has been diagnosed with the Zika virus in Spain, the health ministry confirmed.

This is the first such case reported in Europe.

Spain’s health ministry said the woman had recently returned from Colombia, where it is believed she was infected.

Zika, which is spreading through the Americas, has been linked to babies being born with underdeveloped brains.

The World Health Organization (WHO) has declared the microcephaly condition, linked to the Zika virus, a global public health emergency.Zika virus Spain

On February 4, the WHO also advised countries not to accept blood donations from people who had traveled to Zika-affected regions, the AFP news agency reported.

In a statement, the Spanish health ministry said the pregnant woman was diagnosed as having Zika in the north-eastern Catalonia region.

The ministry did not release the woman’s name, saying she was one of seven confirmed cases in Spain.

It said two more patients were in Catalonia, two in Castile and Leon, one in Murcia and one in the capital Madrid.

“All are in good health,” the ministry added.

The ministry also stressed that “the diagnosed cases of Zika virus in Spain… don’t risk spreading the virus in our country as they are imported cases”.

Daraprim Case: Martin Shkreli Invokes Fifth Amendment during Congressional Hearing

Former Turing Pharmaceuticals CEO Martin Shkreli refused to answer questions at a congressional hearing on the company’s drug pricing policy.

Martin Shkreli invoked his constitutional right against self-incrimination, but sniggered through questions from representatives.

Congress is investigating Turing’s 5,000% price increase of Daraprim, a drug used by many AIDS patients.

Martin Shkreli asked Congress for immunity last month in return for his testimony.

The Federal Trade Commission is also investigating whether Turing violated anti-trust laws when it raised the price of Daraprim.

Turing purchased the patent to Daraprim for $50 million in July 2015, but the company and its former CEO rose to public attention in August when price of a single dose jumped from $13.50 to $750.

Politicians, including Democratic presidential candidate Hilary Clinton criticized Turing for the increase. Hillary Clinton called Turing’s move “outrageous” and called it “price gouging”.

In response, Martin Shkreli said the media and politicians did not understand the pharmaceutical industry.

The industry’s main lobbying group, PhRMA, also spoke out against Turing’s actions. In a statement PhRMA said that Turing “does not represent the values of PhRMA member companies”.Martin Shkreli fifth amendment congressional hearing

Other members of the pharmaceutical industry, including the head of Valeant Pharmaceuticals, were also asked to testify.

Valeant increased the price of Isuprel, a drug used to treat slow heart rate by 500% and Nitropress used to treat hypertension by 200%.

After the hearing Martin Shkreli’s attorney told reporters that his client, a former hedge fund manager, was a “brilliant scientist who had saved many lives.”

Martin Shkreli who is active on social media had already tweeted he would not answer questions.

Before the hearing, Maryland Representative Elijah Cummings called Martin Shkreli’s decision to invoke his Fifth Amendment right against self-incrimination a “juvenile tactic”.

At the hearing, Representative Elijah Cummings said: “You can go down as the poster boy for greedy drug company executives, or you can change the system.”

After the hearing, Martin Shkreli returned to Twitter to call the members of Congress “imbeciles”.

Turing’s chief commercial officer Nancy Retzlaff did answer Congress’s questions.

Nancy Retzlaff told the House hearing that Turing acquired Daraprim because it was “priced far below its market value” and that the company planned to invest the profits from the price hike into research and development of new treatments.

Martin Shkreli stepped down as Turing CEO in December 2015 following his arrest on separate charges.

The Department of Justice and Securities and Exchange Commission have charged Martin Sjkreli with defrauding investors at a company he previously ran and a hedge fund he managed.

Why you should buy your next vehicle online. . .

Apps and internet is even making it possible to order vehicles online, just a few clicks away.

These days we’re all obsessed with buying online. Websites like Amazon have revolutionised the way we think when it comes to getting the stuff we need. Where we used to go down the high street or to our local store, now we log on and ‘add to cart’ from the comfort of our homes. Every market is undergoing a digital revolution – and no traditional ‘bricks and mortar’ business is safe, including in the automotive sector.

car

Recent research has demonstrated that as many as 31% of people under the age of 35 would now consider buying their next car online.The sands are shifting – and quickly. Across the pond, online dealerships have seen growth of 2.9% per year over the last 5 years and it looks like it might be a trend that’s about to hit even more countries.

Buying a car is a big life purchase. One thing that’s absolutely certain is that you want to have complete trust in whoever you’re buying from. Growing popularity of online-only retailers, across a huge number of markets, is showing that providing people have trust in the retailer, they’re more than prepared to buy on the web. In order to break into a market, e-commerce businesses have to counteract the barriers, such as a lack of face to face contact, that might impede potential customers trusting their model. In many sectors this is done with a range of guarantees, online communications and delivery options.

Carspring is a new site that brings the humble car used car dealership to web. The company has come up with an enticing package that genuinely shifts the dealership online and goes someway to allaying concerns their customers may have.

The great advantage of buying a car with Carspring is that prices are fixed at the going rate, rather than linked to sales targets – as is the case with most dealers. What’s more, their price includes more benefits than you might expect – all aimed at making customers feel more comfortable switching to an online purchase. This includes a 6 month AA Gold Warranty, a year’s AA breakdown cover and a 14-day money-back guarantee. Additionally, the company offers flexible finance, sorts out all the important paperwork and delivers their cars directly to their customers’ doors.

All of these benefits seem to indicate that the company has created a clearly structured process that ensures the customer can buy online in complete confidence. Those days of trawling around dealerships in the wind and rain are surely numbered. Just like most other markets, the future of buying a used vehicles will include sticking the kettle on, kicking off your shoes and logging online.

Matt LeBlanc Announced as Top Gear Presenter

Matt LeBlanc has joined Chris Evans as the co-presenter of Top Gear.

The motoring show will return to BBC Two in May.

The former Friends star will be Top Gear‘s first non-British host in its 39-year history.

Additional Top Gear cast members will be confirmed shortly, the BBC said.

Photo Top Gear
Photo Top Gear

“As a car nut and a massive fan of Top Gear, I’m honored and excited to be a part of this iconic show’s new chapter,” said Matt LeBlanc.

“What a thrill!”

Matt LeBlanc, 48, is best known for his role as Joey Tribbiani in Friends and has more recently been seen, as himself, in BBC Two sitcom Episodes.

He has twice appeared on Top Gear on its popular “star in a reasonably priced car” segment and holds the record for the fastest ever celebrity lap.

Chris Evans was named as Top Gear‘s new host in 2015 after the BBC opted not to renew Jeremy Clarkson’s contract in the wake of his much-publicized “fracas” with a show producer.

Jeremy Clarkson subsequently signed up with streaming service Amazon Prime to present a new motoring show with Richard Hammond and James May, his former Top Gear co-presenters.

https://www.youtube.com/watch?v=3LEWtwvma4o

Credit Suisse to Cut 4,000 Jobs after Reporting First Annual Loss Since 2008

Credit Suisse is planning to cut 4,000 jobs after the bank made a pre-tax loss for the year of 2.4 billion Swiss francs ($2.4 billion), which was its first annual loss since 2008.

The bank said that included “substantial charges which are not reflective of our underlying business performance”.

Credit Suisse has written off 3.8 billion Swiss francs linked to its acquisition of Donaldson, Lufkin & Jenrette in 2000.Credit Suisse job cut

It said it planned to save 900 million Swiss francs “from workforce strategy and the rightsizing of the bank’s London presence”.

The bank said that the job losses announced with the results were an acceleration of cuts that were already planned.

Credit Suisse’s shares fell 9% in early trading in Zurich to their lowest level since 1992, because of a gloomy outlook for the current year.

CEO Tidjane Thiam said: “Market conditions in January 2016 have remained challenging and we expect markets to remain volatile throughout the remainder of the first quarter of 2016 as macroeconomic issues persist.”

Shell Cuts 10,000 Jobs on Falling Profits

Shell has confirmed it would cut 10,000 jobs after a sharp fall in its annual profits.

The Royal Dutch Shell shares rose 4% as it said it made $1.8 billion for Q4 of 2015, compared with a $4.2 billion profit for the same period the year before.

Full-year earnings have seen their steepest fall in 13 years, from $19 billion in 2014 to $3.8 billion in 2015.

Oil prices have fallen steadily, from more than $100 a barrel 18 months ago to around $30 a barrel now.

Nevertheless, Shell has maintained its dividend payout to shareholders, a move that relieved investors.

Oil companies and their suppliers have been cutting back hard on investment and jobs as the low price eats into profits and makes investment less worthwhile.

Shell’s rival, BP, announced a profits slump of 51% to $5.9bn for 2015 and a further 3,000 job cuts earlier this week.

Shell had already made clear when investors were preparing to vote on its planned takeover of BG that its profit figures for 2015 would be hit.

The company also said thousands of job would go, because of its takeover of BG.Shell job cut 2016

Royal Dutch Shell CEO Ben van Beurden said the company was entering a new phase: “The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start of a new chapter in Shell, rejuvenating the company and improving shareholder returns.

“We are making substantial changes in the company… as we refocus Shell, and respond to lower oil prices. As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies.”

Ben van Beurden added he would take further action if necessary: “Shell will take further impactful decisions to manage through the oil price downturn, should conditions warrant that.”

Some analysts question whether Shell can continue to keep paying investors at the rate it does on the back of a shrinking business.

At the time of the proposed BG tie-up, oil was trading at about $55 a barrel, but it is currently trading at about $35 a barrel, leading some shareholders to oppose the plan.

Standard Life, a key investor in Royal Dutch Shell, said last month that the price of oil needed to be $60 a barrel for the takeover to make financial sense, but in January, the majority of shareholders in Shell, which is Europe’s largest oil company, voted in favor of that deal.

Shell said it had cut operating costs over the year by $4 billion, or around 10%, and expected to cut costs by a further $3 billion in 2016.

The company also cut back hard on investment over the year, with capital spending slashed by $8.4 billion from a year ago to $28.9 billion.

Shell sold $5.5 billion worth of assets in the course of 2015 and is planning to sell another $30 billion of assets.

North Korea Ready for Long-Range Missile Launch

South Korea’s defense ministry and Japanese media say North Korea appears to be preparing to launch a long-range missile.

Activity has been spotted at a launch station on the North Korea’west coast of the isolated nation.

Earlier this week Pyongyang announced it was planning to launch a satellite at some point in February.

North Korea’s announcement was internationally condemned – critics saying it is a cover to test banned missile technology.

The isolated country also conducted its fourth nuclear bomb test on January 6.

UN sanctions against North Korea prohibit it from carrying out any nuclear or ballistic missile tests.

South Korean state news agency Yonhap quoted defense ministry officials on February 4 as saying activity had been spotted at a site in Dongchang-ri, where the Sohae launching station is located.North Korea long range missile

Defense Ministry spokesman Moon Sang-gyun also said South Korea’s military was ramping up its air defense readiness so it was ready to intercept any missile or debris falling in its territory. The South has already ordered certain commercial flights to divert their routes.

Japan’s national broadcaster NHK, citing unnamed officials, also reported similar news about activity at Dongchang-ri, and added that a mobile launcher carrying a ballistic missile had also been seen moving near the east coast.

Separately, South Korean President Park Geun-hye said in a statement reported by Yonhap that any long-range missile launch by the North “should never be condoned as it poses a threat to peace on the Korean Peninsula and the world”.

Park Geun-hye said the move was “a desperate measure” by the North to maintain its regime, and showed Pyongyang was not afraid of UN sanctions.

The US-based North Korean analysis website 38 North said recent satellite images show recent activity at Sohae suggesting launch preparations.

These include heightened activity at a building used to receive rocket stages, and a complex that appears ready to conduct engine tests.

North Korean state news agency KCNA reported on February 4 that the ruling Workers’ Party of Korea was holding a meeting among central and army committee members where they discussed how to “further strengthen” the party ahead of a rare political meeting scheduled for May.

Analysts say North Korea’s recent nuclear and missile activity could be a build-up to the upcoming seventh party congress – the first to be held since 1980 – where leader Kim Jong-un is expected to show off the nuclear program.

Donald Trump’s Private Jet Makes Emergency Landing in Nashville

Donald Trump’s jet made an emergency landing in Nashville, Tennessee, on February 3 because of engine trouble, officials said.

The Boeing 757 was flying to Little Rock, Arkansas, from New York when it landed at Nashville International Airport.Donald Trump private jet emergency landing

Donald Trump traveled the rest of the way in a small charter aircraft, a campaign spokeswoman said.

The Federal Aviation Administration (FAA) said the Republican candidate’s plane landed safely at 4:40 PM after reporting engine problems.

The FAA will investigated the incident, it said.

Donald Trump Accuses Ted Cruz of Fraud and Calls for New Election in Iowa

Donald Trump has called for a new Republican election in Iowa, accusing the winner, Ted Cruz, of fraud.

The billionaire pointed to the fact that during the caucus Ted Cruz’s campaign told voters rival Ben Carson planned to quit the race, which was not true.

The Cruz campaign apologized to Ben Carson, saying it was a misunderstanding.

Donald Trump came second in the first state-by-state contest to pick each party’s presidential nominee.

Next up is New Hampshire, where voters will make their choice in the Republican and Democratic races on February 9.

Donald Trump said: “Ted Cruz didn’t win Iowa, he stole it. That is why all of the polls were so wrong and why he got far more votes than anticipated. Bad!”

Earlier, he wrote on Twitter that Ted Cruz “illegally” won the caucus, but later deleted the tweet.Donald Trump accuses Ted Cruz of fraud

Paul Pate, the top election official in Iowa, condemned Ted Cruz campaign leaflets sent out prior to voting that accused Iowans of “voting violations”.

The leaflets graded Iowans and their neighbors for how much they had voted in the past and told them to turn out to improve their scores.

Paul Pate said Ted Cruz’s leaflets “misrepresent Iowa election law” and that they were “not in keeping in the spirit of the Iowa caucuses,” but he stopped short of any official action.

Donald Trump’s reaction contrasts with his concession speech on February 1, which was seen as a humble departure from his usual bombastic style.

He called second place “a long-shot great finish” in an earlier tweet.

Ted Cruz’s camp is not taking the accusations too seriously.

“Reality just hit the reality star – he lost Iowa and now nobody is talking about him, so he’s popping off on Twitter,” Ted Cruz’s communications director Rick Tyler told Politico in an email.

“There are support groups for Twitter addiction, perhaps he should find his local chapter.”

There is no precedent for re-staging a caucus.

Ben Carson accepted Ted Cruz’s apology about the drop-out rumors, but his campaign called the tactics “dirty tricks”.

The remaining candidates are now in New Hampshire, the next state to hold a primary vote, where Donald Trump is leading in the polls.

Also on February 3, Kentucky Senator Rand Paul and former Pennsylvania Senator Rick Santorum dropped out of the Republican race after disappointing finishes in Iowa.

White House 2016: Rand Paul Suspends Presidential Campaign

Rand Paul has decided to drop out of the White House race after a disappointing fifth place finish in the Iowa caucuses.

The Kentucky senator often clashed with his Republican rivals over their hawkish views on foreign policy and their support of government surveillance.

Rand Paul ended his bid in part to focus on his re-election to the Senate.

He is seen as representing the Libertarian wing of the party, which promotes individual rights and privacy.

“Across the country thousands upon thousands of people flocked to our message of limited government, privacy, criminal justice reform and a reasonable foreign policy,” he said.

“Although, today I will suspend my campaign for president, the fight is far from over.”Rand Paul suspends presidential campaign

Rand Paul, an ophthalmologist, represents Kentucky in the Senate and is the son of former Congressman Ron Paul, who ran for president several times.

He has said in the past he is the right candidate to “stand up to both the right and the left”.

In 2015, a Time magazine cover labeled Rand Paul “the most interesting man in politics”.

There are now 10 Republicans left in the White House race, down from the original 17.

Rand Paul, 52, hoped to gain the attention of young people hoping for change but was ultimately overshadowed by billionaire businessman Donald Trump.

He is known for holding up the Senate floor for nearly 13 hours to delay the nomination of John Brennan as CIA director because of his opposition to the Obama administration’s use of drone strikes against terrorists.

He also was criticized last year when he said vaccines could give children “profound mental disorders”. He later said his children are immunized.

Rand Paul was passionate about criminal justice reform, saying the US needs to “break the cycle of incarceration for non-violent ex-offenders”.

He was praised for level-headed debate performances, but ultimately was hurt by his non-interventionist polices after terrorist attacks in San Bernardino, California and Paris.

Rand Paul had trouble raising money for his campaign, as well, not attracting wealthy donors flocking to candidates like Marco Rubio, Jeb Bush and Ted Cruz.

With such a large field of candidates, underperforming Republican candidates are under increasing pressure to drop out of the race.

Former Governor of Arkansas Mike Huckabee dropped out on February 2 as votes were being cast in Iowa.

Nkandla Scandal: Jacob Zuma to Pay for Mansion Upgrade

South African President Jacob Zuma will repay some of the $23 million the government controversially spent on upgrading his private rural home in Nkandla.

In 2014, a report by the public protector said Jacob Zuma had “benefited unduly” from the upgrades.

President Jacob Zuma said the auditor-general and finance minister should determine how much he should repay to end the dispute.

The announcement comes a week before a constitutional hearing on the matter.

The refurbishment of the residence in the village of Nkandla, in Jacob Zuma’s home province of KwaZulu-Natal, has turned into a major political controversy in South Africa.Jacob Zuma Nkandla upgrade

Some of the money was spent on building an amphitheatre, swimming pool, and cattle enclosure.

The opposition Democratic Alliance (DA) and Julius Malema’s Economic Freedom Fighters (EFF), who have called for a corruption investigation, say they are pressing ahead with their court case regardless of the president’s latest offer.

Following Jacob Zuma’s announcement #PayBackThemoney is trending in South Africa – this was the phrase EFF lawmakers chanted at the president in parliament in 2015.

Many commentators seem skeptical.

Jacob Zuma’s delayed willingness to pay back the money spent on the upgrades to his Nkandla residence could be a calculated move to avoid embarrassment at the Constitutional Court hearing expected next week.

It could also be linked to the forthcoming local government election.

The Nkandla scandal has been a sore point for the governing African National Congress (ANC) which president Jacob Zuma leads, especially as the party faithful go out to campaign for votes.

Ford Europe Cuts Jobs to Save $200 Million

Ford has announced it is cutting jobs and save $200 million a year in Europe.

The US car giant said it was launching a voluntary redundancy program and improving manufacturing efficiencies.

The company also said it would focus on its most profitable models, such as sports utility vehicles (SUVs).

Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8 billion.Ford Europe job cut

This represented a “good first step”, said Ford Europe executive vice-president Jim Farley.

“We are absolutely committed to accelerating our transformation, taking the necessary actions to create a vibrant business that is solidly profitable in both good times and down cycles.”

The jobs are likely to go at Ford’s main European centers in the UK and Germany.

Ford also said it would be launching seven new or redesigned vehicles this year, including a Focus RS and new Kuga and Edge SUVs.

Ford Europe has closed a number of plants as it struggles to turn around heavy losses. Last year, the company made an operating profit of $259 million in Europe, compared with a loss of $598 million in 2014.

Brandon Astor Jones: Georgia Executes Its Oldest Death Row Inmate

Georgia has executed its oldest death row inmate, 72-year-old Brandon Astor Jones.

The man was sentenced to the death penalty 36 years ago, after being convicted of killing a shop manager during a robbery.

Brandon Astor Jones’ execution was delayed by several hours after his lawyers filed a last-minute appeal with the Supreme Court.

Georgia has executed about 60 people since 1976, and has dozens of people on death row.

Photo Reuters
Photo Reuters

Brandon Astor Jones was given a lethal injection in the early hours of February 3 at a prison in Jackson, after accepting a final prayer.

He and another man, Van Roosevelt Solomon, were both convicted of the killing of store manager Roger Tackett during a robbery in 1979. Van Roosevelt Solomon was executed in 1985.

Brandon Astor Jones’ supporters argued that he had denied shooting Roger Tackett, and that the court had not considered evidence of mental illness and abuse as a child.

In a statement issued before his execution, the Death Penalty Information Center said Brandon Astor Jones was “two weeks short of his 73rd birthday” and that his case “raises questions of proportionality and discriminatory application of the death penalty”.

A federal judge had overturned Brandon Jones’ death sentence in 1989, saying that the jurors had improperly brought a Bible into the deliberation room, which could have influenced their decision.

Brandon Astor Jones was re-sentenced to death in 1997.

https://www.youtube.com/watch?v=oPUwH16TdS0

South Korea Warns North Korea over Satellite Launch

South Korea warns North Korea it will “pay a harsh price” if it goes ahead with its plan to launch a satellite into space.

North Korea announced on February 2 it intended to carry out the launch between February 8 and 25.

Critics say it is a cover for a test of ballistic missile technology.

Japan’s defense minister said he had issued an order to shoot down any missile that threatened to fall on Japanese territory.

The US has said any North Korean launch would be an “egregious violation” of a UN ban on missile launches by North Korea, and called for more sanctions.

North Korea has always said its space program is peaceful, but it is believed to be developing an intercontinental ballistic missile.

The communist country also conducted its fourth nuclear bomb test on January 6, drawing international condemnation.North Korea satellite launch reactions

Cho Tae-yang, a senior South Korean presidential official, said on February 3 that the satellite plan was considered a “direct challenge to the international community”.

“We warn that if North Korea proceeds with a long-range missile launch, the international society will ensure that the North pays searing consequences for it as the launch would constitute a grave threat to the Korean Peninsula, the region and the world,” he said.

Japan’s PM Shinzo Abe said the launch plan was a “serious provocation” and that he would work with other countries to “strongly demand” North Korea to stop.

China’s top nuclear envoy Wu Dawei, is currently visiting Pyongyang. A Chinese foreign ministry official told the South Korea news agency Yonhap that he planned to discuss the situation with officials there.

The International Maritime Organization (IMO) said on February 2 that it had been notified of Pyongyang’s plans to launch a satellite.

However, North Korean media do not appear to have reported on the DPRK’s letter to the UN maritime agency so far.

US Assistant Secretary of State for East Asia Daniel Russel said the planned launch argued “even more strongly” for tougher UN sanctions.

Analysts say a new launch would allow North Korea to test some – but not all – of the technology needed for a long-range nuclear strike.

US officials had said last week that North Korea appeared to be preparing for a rocket launch, citing increased activity around the Sohae Satellite Launching Station, also known as Tongchang-ri.

Analysts say that the recent activity could be a build-up to the seventh Congress of the Workers’ Party of Korea due to be held in coming months, the first to be held since 1980, where leader Kim Jong-un is expected to show off North Korea’s nuclear program.

North Korea last conducted a long-range rocket launch in December 2012 successfully putting into orbit an object Pyongyang claimed was a communications satellite with the three-stage Unha-3 carrier.

The UN Security Council subsequently called it a “clear violation” of resolutions banning North Korea from missiles tests, and imposed sanctions.

California Methane Leak: SoCal Gas Sued for Safety Violations

California Attorney General Kamala Harris has filed a lawsuit against the Southern California Gas Company, which is responsible for a huge gas leak near Los Angeles.

The charges allege that the SoCal Gas violated health and safety laws by failing to report and contain leaking methane.

Kamala Harris said the impact had been devastating to families in the area.

The leak in Porter Ranch began on October 23 and has forced more than 13,000 people from their homes.

It has been blamed for a variety of health issues and has been described by environmental campaigner Erin Brockovich as the worst environmental disaster in the US since 2010.California gas leak lawsuit

SoCal Gas spokesman Mike Mizrahi has repeatedly insisted that his company complied with all relevant state and federal regulations in the run-up to the leak.

The company has promised that it will be plugged by the end of February and the single well in question, a depleted oil field known as SS-25, will be taken out of use.

The use of old oil and gas wells for storing natural gas is relatively common in the US, according to industry bodies.

However, the state government says that SocCal is entirely to blame for the incident.

“The impact of this unprecedented gas leak is devastating to families in our state, our environment and our efforts to combat global warming,” Kamala Harris said in a statement.

“Southern California Gas Company must be held accountable.”

The lawsuit filed by the attorney general seeks unspecified civil penalties and emulates similar legal moves taken in December by the Los Angeles city attorney.

The leak has been described as the biggest in California’s history, forcing nearly 4,500 families living in the upmarket Porter Ranch area to relocate. About 1,200 more households are in the process of following them.

Repeated efforts to stop the leak by pouring liquid and mud down the stricken well have been unsuccessful. SoCal is now drilling a relief well to seal the damaged well.

Erin Brockovich has described the leak as a “BP oil spill on land”, comparing it to the Deepwater Horizon explosion in the Gulf of Mexico six years ago, in which 11 people died.

The effect of the leak on human health is contested.

SoCal Gas insists there is no evidence that it poses a long-term risk but some scientists say there are not enough data for them to be sure.

https://www.youtube.com/watch?v=Vri5_F_5WnQ

Yahoo Cuts 15% of Its Workforce to Return to Profitability

Yahoo has announced its plans to cut 15% of its workforce as the company pursues an “aggressive strategic plan” to return to profitability.

The company says the job cuts will reduce the number of its employees to about 9,000 by the end of 2016.

Yahoo’s announcement came as the company reported a $4.3 billion loss for 2015.

In a statement, Yahoo CEO Marissa Mayer said: “This is a strong plan calling for bold shifts in products and in resources.”

Marissa Mayer added that it would “dramatically brighten our future and improve our competitiveness and attractiveness to users, advertisers, and partners”.

The head-count reduction is the latest part of Marissa Mayer’s attempt to turn around Yahoo, which is struggling to compete against the likes of Facebook and Google.

In December, Yahoo announced it was reversing a plan to sell its stake in the Chinese e-commerce site Alibaba, and would instead look to spin off its core internet business.Yahoo job cut 2016

Marissa Mayer was forced to change course on the Alibaba sale following pressure from several activist investors.

The focus on cutting costs and raising profits is being seen as the latest sign that Yahoo is becoming more serious about selling its core internet business.

As well as shedding much of its workforce, Yahoo plans to sell off some of its product lines – such as Yahoo TV and Yahoo Games – so that it can focus on its search business, email and Tumblr blogging site.

Yahoo is also closing offices in Dubai, Mexico City, Buenos Aires, Madrid, and Milan.

That should lead to “modest and accelerating growth in 2017 and 2018,” the company said.

Yahoo has estimated the cutting back of its product line alone could generate $1 billion.

Marissa Mayer has been under pressure from investors to step down as chief executive.

Yahoo’s shares fell 1.4% in after hours of trading.