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Shimon Peres Taken to Hospital after Suffering Chest Pain

Diane A. Wade
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Shimon Peres Taken to Hospital after Suffering Chest Pain

Israel’s ex-President Shimon Peres has been taken to hospital after suffering chest pains, 10 days after he had a small heart attack.

Shimon Peres, 92, underwent minor surgery last week for a constricted artery.

A spokeswoman said on January 24 that Shimon Peres was readmitted to a Tel Aviv hospital “for observation and testing”.

The former president was not due to undergo any invasive procedures, Haaretz reported.

Shimon Peres twice served as Israel’s prime minister and was president from 2007 to 2014.Shimon Peres hospitalized

On January 24, he was found by doctors to have an irregular heartbeat, his spokeswoman said.

Shimon Peres won the Nobel Peace Prize in 1994 for his role negotiating the Oslo peace accords with the Palestinians a year earlier, a prize he shared with PM Yitzhak Rabin, who was later assassinated, and Palestinian leader Yasser Arafat.

He was defeated in the 1996 election by the head of the opposition Likud, Benjamin Netanyahu.

Shimon Peres has held almost every major political office since Israel was founded in 1948, and was the architect of Israel’s secret nuclear program in 1959.

Despite his age, Shimon Peres has maintained an active public schedule, mostly through his non-governmental Peres Center for Peace, which promotes closer ties between Israel and the Palestinians.

Hong Kong’s Coldest Day in Nearly 60 Years

Nancy Clayson
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Hong Kong’s Coldest Day in Nearly 60 Years

Hong Kong has experienced its coldest day in 59 years at three degrees Celsius.

“It is very cold and windy over Hong Kong. People are advised to put on warm clothes and to avoid prolonged exposure to wintry winds,” read a statement on a city government website.

On Tai Mo Shan, Hong Kong’s tallest mountain, it was 2 degrees Celsius early in the morning, and temperatures kept on dropping to about six degrees below freezing. The fire service had to come to the rescue to treat more than 65 frost chasers and race participants – a 100-KM ultra trail race took place during the night – with symptoms of hypothermia.

Forty five persons were sent to hospital but many were released by the end of the day. Meanwhile many people came to enjoy and experience the ice cold.

Photo AFP
Photo AFP

Meanwhile, the South Korean island of Jeju has seen its biggest snowfall in three decades, causing hundreds of flights to be canceled.

Jeju is a popular holiday destination and thousands of visitors are reported to have been left stranded.

All 517 flights scheduled for January 24 were canceled, as well as about 60 on January 25, following 4.3in of snow.

In Japan, the Kyodo news agency said five people had died and more than 100 had been injured in weather-related accidents across the country in the past 24 hours.

Transport services continue to be disrupted.

The agency also said it had snowed in Amami Island, a subtropical island 235 miles south-west of Kagoshima City, for the first time in 115 years.

China has issued its second highest weather alert amid the coldest weather in decades.

The state-run People’s Daily said on its Weibo social media account that the city of Guangzhou had recorded its first snowfall since 1929.

Tutankhamun Mask: Eight Museum Employees Face Trial over Botched Beard Job

Sonia Pantiss
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Tutankhamun Mask: Eight Museum Employees Face Trial over Botched Beard Job

Eight employees at the Egyptian Museum face trial over the botched reattachment of the beard on the burial mask of Tutankhamun, Egyptian media say.

It comes a year after officials opened an investigation into how the blue and gold braided beard came to be detached and then hastily glued back on.

The accused face charges of negligence and violating professional standards.

Tutankhamun’s mask – a 3,000-year-old artifact – is one of Cairo’s biggest tourist attractions.

Conservators at the Egyptian Museum had given differing accounts of the circumstances of the beard becoming detached.

Photo AP
Photo AP

One suggestion was that it had been knocked off accidentally, another that it had been removed after becoming loose.

According to prosecutors, workers then “recklessly” tried to cover up the mistake, using large amounts of inappropriate glue in an effort to fix it.

In all, they made four attempts to reattach the beard, on the later three occasions also trying to remove evidence of their earlier failed efforts.

The Daily News Egypt quoted prosecutors as saying: “Ignoring all scientific methods of restoration, the suspects tried to conceal their crime by using sharp metal tools to remove parts of the glue that became visible, thus damaging the 3,000-year-old piece without a moment of conscience.”

Those due to face trial include a former director of the museum and a former director of restoration.

In October 2015, a team of conservators led by German experts began work to remove the damage and reattach the beard professionally.

Following successful restoration, Tutankhamun’s mask was put back on public display in December 2015.

Walmart Ordered to Give Jobs Back to 16 Workers

Clyde K. Valle
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Walmart Ordered to Give Jobs Back to 16 Workers

Walmart has been ordered to give jobs back to 16 workers it fired for missing shifts to take part in a strike.

Administrative Law Judge Geoffrey Carter found the workers had suffered discrimination.

In a statement, Walmart said it felt the “actions were legal and justified” and that it would pursue other options to defend the company.

Most of the allegations filed by employees related to protests in 2013, when Walmart workers – backed by labor groups – traveled to the company’s headquarters to protest at a shareholder meeting.

Photo AP
Photo AP

Walmart had said the employees were fired due to unexcused absences not protected by labor law.

The judge disagreed and ordered Walmart to compensate the workers for “loss of earnings and other benefits suffered as a result of the discrimination against them”.

Judge Geoffrey Carter also ordered Wal-Mart to hold a meeting in 29 stores throughout the country to inform employees of their right to strike, and to promise not to threaten or discipline employees for doing so.

The company has faced mounting protests over the last several years targeting its employee pay, the ability of workers to organize into a union and working conditions.

Walmart announced on January 20 that it will raise the pay of 1.2 million workers, lifting its average hourly wage to $13.38 per hour.

Douglas Tompkins’ Widow Kristine McDivitt Offers Land to Chile

Diane A. Wade
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Douglas Tompkins’ Widow Kristine McDivitt Offers Land to Chile

The widow of American billionaire Douglas Tompkins has begun talks with Chilean President Michelle Bachelet over the donation of a vast nature reserve in southern Chile.

Kristine McDivitt Tompkins said she had formally offered Chile 400,000 hectares of land in Patagonia to be made into national parks.

The negotiations are expected to take two years.

Douglas Tompkins, who died in December 2015 in a kayaking accident, caused controversy in the 1990s by buying up land in southern Chile and Argentina to preserve it.

Last month, Kristine McDivitt met the new Argentinean President Mauricio Macri to donate to the country 150,000 hectares of threatened wetlands near the border with Brazil, with the aim of creating the Ibera National Park.

Douglas Tompkins was a globe-trotting rock climber and skier in his youth who was the co-founder of the outdoor clothing company The North Face.

In the early 1990s Douglas Tompinks got divorced, abandoned corporate life and moved to isolated southern Chile.

With his second wife Kristine, a former CEO of outdoor clothing company Patagonia Inc, he began buying up land in order to protect an ancient forest in Patagonia.Kristine McDivitt Tompkins and Michelle Bachelet

Over 25 years Douglas and Kristine Tompkins invested more than $375 million in conservation, donating part of their lands in Chile and Argentina to create four national parks.

After the meeting with President Michelle Bachelet, Kristine McDivitt said that the donation of the latest tranche of land to Chile was being made on condition that it would be used to create national parks which people could freely visit.

“The process will take a long time,” she said.

“We won’t be deciding the timing and I know there will be a compromise both sides will have to make to work through all the stages that will be necessary.

“We want people from all over the world to be able to visit these places. With the donation of these parks, Chile will be able offer a historic legacy to the world.”

In 2005, Douglas and Kristine Tompkins donated another tranche of land to Chile, 294 hectares near the Corcovado volcano, creating the sixth largest national park in Chile – the Corcovado National Park.

https://www.youtube.com/watch?v=qvYzHc-cxsM

Zika Outbreak: Rio Authorities Announce Olympics Plans

Diane A. Wade
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Zika Outbreak: Rio Authorities Announce Olympics Plans

Authorities in Rio de Janeiro have announced plans to prevent the spread of the Zika virus during the Olympic Games later this year.

Zika outbreak – which is being linked to severe birth defects – has caused growing concern in Brazil and abroad.

Inspections of Olympic facilities will begin four months before the Games to get rid of mosquito breeding grounds.

Daily sweeps will also take place during the Games.Zika outbreak Rio Olympics 2016

However, fumigation would only be an option on a case-by-case basis because of concerns for the health of the athletes and visitors.

The Brazilian health ministry says it is also banking on the fact that the Games are taking place in the cooler, drier month of August when mosquitoes are far less evident and there are considerably less cases of mosquito-borne virus.

Brazil has the largest-known outbreak of the Zika virus which has been linked to a spike in birth defects in new-born babies whose mothers were bitten by the mosquito during pregnancy.

The US, Canada and EU health agencies have issued warnings saying pregnant women should avoid travelling to Brazil and other countries in the Americas which have registered cases of Zika.

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

La Loche Shootings: Teenager Charged over Canada Deaths

Diane A. Wade
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La Loche Shootings: Teenager Charged over Canada Deaths

A Canadian teenager has been charged with four counts of first-degree murder after shootings in Saskatchewan province, police say.

The boy – who cannot be named because of his age – is also charged with seven counts of attempted murder.

Four people were killed and several injured after the shootings at La Loche Community School and another location.

The January 22 attack in the remote community was “every parent’s worst nightmare”, Canada’s PM Justin Trudeau has said.La Loche shootings 2016

At a news conference on January 23, Grant St Germaine from the Royal Canadian Mounted Police (RCMP) said the suspect would appear in court next week.

“The days and weeks are going to be difficult as we come to terms with the impact of what has happened in our community,” he said.

“It’s a sad and difficult time and no words will take away the pain and sorrow of what has happened.”

The RCMP said Dayne Fontaine, 17, and his brother Drayden, 13, were shot dead in a house.

The gunmen then went to the school, killing teacher Adam Wood, 35, and 21-year-old teaching assistant Marie Janvier, the daughter of acting mayor Kevin Janvier.

The suspect was later disarmed and arrested. The motive behind the shootings is unclear.

Witnesses at the school described screaming and more than half a dozen shots.

The RCMP said officers were called about “an active shooter” at 13:00 local time and detained the suspect 45 minutes later, Canada’s CBC reports.

About 900 students attend La Loche Community School for kindergarten through to grade 12 (the last year of high school).

La Loche is a mainly aboriginal community of about 3,000 people.

Louis Tomlinson Baby: One Direction Singer Becomes a Father for First Time

Lisa.Felice
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Louis Tomlinson Baby: One Direction Singer Becomes a Father for First Time

One Direction singer Louis Tomlinson has confirmed that he has become a dad for the first time.

After much speculation, Louis Tomlinson tweeted that his baby son was born on January 22.

Louis Tomlinson tweeted: “He is healthy and pretty amazing. I’m very happy.” Louis Tomlinson and Briana Jungwirth baby

Last year reports came out about how Louis Tomlinson was having a baby with American stylist Briana Jungwirth.

There was never any official press statement about it but Louis Tomlinson did confirm the news of his impending fatherhood during an awkward moment on US television.

When he was congratulated by the interviewer, Louis Tomlinson replied: “Thank you, yeah, erm, obviously it’s a very exciting time, so, err, I’m buzzing, thank you.”

Louis Tomlinson is the first member of One Direction to become a father although there’s no word on a name for his child as yet.

https://www.youtube.com/watch?v=ghEoDRbx6SI

White House 2016: Michael Bloomberg Thinking about Running for President

Diane A. Wade
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White House 2016: Michael Bloomberg Thinking about Running for President

Ex-NYC Mayor Michael Bloomberg is thinking about running for president as an independent candidate, several outlets report.

Unnamed advisers told the New York Times that Michael Bloomberg, 73, sees a gap and has instructed staff to draw up plans.

In 2015, Michael Bloomberg commissioned a poll to see how he might perform against Republican frontrunner Donald Trump and Democratic favorite Hillary Clinton.

Photo AP
Photo AP

Michael Bloomberg would reportedly pump $1 billion of his fortune into a campaign.

The billionaire has yet to make a statement on the issue but members of his staff have told other US media that he is indeed thinking about running, especially if Hillary Clinton is wounded by her rival Bernie Sanders.

The New York Times also reports that he has set a deadline for making a final decision in early March, when he could still enter the race in all 50 states.

The Republican and Democratic candidates face their first real test in just over a week, when Iowa becomes the first state to make its choice of nominee.

https://www.youtube.com/watch?v=1fGIHZMd6kM

Snowstorm 2016: At Least 9 People Dead as Two Feet of Snow Fall in Huge Blizzard

Diane A. Wade
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Snowstorm 2016: At Least 9 People Dead as Two Feet of Snow Fall in Huge Blizzard

Eastern states have received more than two feet of snow fall in a huge blizzard that is sweeping across the region.

Heavy snow began falling on January 22 across more than 20 states, affecting some 85 million people.

NYC Mayor Bill de Blasio said the storm could be one of the worst to ever hit the city. He is considering a travel ban.

At least nine people have died and emergencies declared in 10 states.

Tens of thousands of homes are without power and traffic jams lasting at least 12 hours have been reported in Kentucky and Pennsylvania.

Washington DC could lie under a record 30in of snow by the time the storm passes on January 23. At the White House, 13in of snow fell overnight.Snowstorm 2016

The heaviest snowfall recorded so far (up to 09:00 eastern time) include:

  • 28in – Terra Alta, West Virginia
  • 24in – Philippi, West Virginia; Oakland, Maryland
  • 23in – Ridgeley, Maryland; Champion and Marklesburg, Pennsylvania

The weather system affects a huge swathe of the country, from Alabama in the south to Massachusetts in the north-east.

Bill de Blasio said New York City was now expecting up to two feet of snow, which would make it one of the five largest storms ever to hit the city.

In a press conference, he urged citizens to get off the road.

His office tweeted: “This is bad and getting worse rapidly.”

In Kentucky, a 35-mile traffic jam has started to clear in the past few hours, after thousands of drivers found themselves stranded on I-75 overnight by heavy snow and a number of accidents.

The Red Cross erected shelters along the highway and Kentucky State Police tweeted that officers were taking water, fuel and snacks to the motorists, some of whom had been stuck for more than 12 hours.

Further north, on the Pennsylvania Turnpike, a number of other vehicles have been stuck in snow for at least 12 hours after the road closed. One university basketball team that was stranded said they were running out of leftover pizza and getting hungry.

The US federal government closed down at noon on January 22 while President Barack Obama remained at the White House.

The National Weather Service (NWS) warned that the worst of the snow would fall in the Washington area from the early hours of Saturday to the early afternoon, with winds of more than 50mph.

In a warning at 02:17, the NWS tweeted that an “intense snow band” was moving through the area.

“Expect rapid accumulations and near-whiteout conditions,” it warned.

The most intense parts of the snowstorm are heading north towards New York state on January 23.

James Bond SPECTRE Car Up for Auction

Sonia Pantiss
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James Bond SPECTRE Car Up for Auction

Aston Martin will auction one of 10 DB10 cars made for James Bond movie SPECTRE along with 23 other Bond-related items for charity.

The car, which was specially built for SPECTRE, will be put up on February 18 with a minimum price of £1 million ($1.6 million).

It forms part of SPECTRE – The Auction, timed to coincide with the release of the 24th James Bond movie on DVD.

The car has a 4.7-litre V8 petrol engine and a top speed of 190 mph, but it cannot be driven on public roads.James Bond Spectre car auction

Aston Martin has been associated with James Bond since 1964’s Goldfinger, which featured a DB5.

Most of the DB10s were modified for use in the filming of SPECTRE, but the DB10 offered at Christie’s auction house is one of only two “show” cars, which were left unmodified and used for display purposes.

SPECTRE is reported to have destroyed $36 million worth of cars during shooting.

The car up for auction has been signed by James Bond actor Daniel Craig.

Unilever to Shrink Magnum and Cornetto Ice Creams

Nancy Clayson
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Unilever to Shrink Magnum and Cornetto Ice Creams

Magnum and Cornetto maker, Unilever, has decided to make all its ice creams aimed at adults smaller.

According to a report in trade journal The Grocer, Ben & Jerry’s tubs and Feast ice creams are among those whose portion size will shrink.

Unilever said the move was to help consumers “make healthier choices”.Magnum shrinks

From the spring, “single serving” portions will contain no more than 250 calories.

Unilever’s UK ice cream marketing director Noel Clarke said: “We have introduced this 250 calorie cap to help make it easier for our consumers to make informed and healthier choices when enjoying their favorite ice creams as part of a balanced lifestyle.”

Some products will be dropped altogether, The Guardian reported.

Magnum Infinity Chocolate, Magnum Infinity Chocolate & Caramel and Cornetto Choc ‘N’ Ball are some products that will melt away, the newspaper said.

Canada School Shooting: Four Dead and Several Injured in Saskatchewan Incident

Diane A. Wade
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Canada School Shooting: Four Dead and Several Injured in Saskatchewan Incident

Four people are dead and at least critically injured after a school shooting in the western Canadian province of Saskatchewan, police say.

They say a male suspect is now in custody and children have been moved to safety after the shootings at La Loche Community School and another location.

Prime Minister Justin Trudeau said earlier that five people had been killed, but this was later corrected.

The school shooting was “every parent’s worst nightmare”, Justin Trudeau said.

“The community is reeling.”

Photo CBS
Photo CBS

Justin Trudeau, who was speaking in Davos, Switzerland, also praised “the first responders who acted quickly and bravely”.

Witnesses at the school described screaming and more than half a dozen shots.

Kevin Janvier, acting mayor of La Loche, said that his 23-year-old daughter Marie, a teacher, was one of the victims at the school.

He also said police had told him that the gunman first shot two of his siblings at home and then made his way to the school.

At a news conference, Maureen Levy, a senior officer at the Royal Canadian Mounted Police (RCMP), said: “There’s no risk to public safety at this time. This is truly a tragedy.”

Maureen Levy provided no further details.

The RCMP said officers were called about “an active shooter” at 13:00 local time and detained the suspect 45 minutes later, Canada’s CBC broadcaster reports.

“Words cannot express my shock and sorrow at the horrific events today in La Loche,” Brad Wall, the premier of Saskatchewan, said in a statement.

“My thoughts and prayers are with all the victims, their families and friends and all the people of the community.”

About 900 students attend La Loche Community School for kindergarten through to grade 12 (the last year of high school).

La Loche is an aboriginal community of about 3,000 people located nearly 550 miles north of the provincial capital, Regina.

Daraprim Price: Martin Shkreli Asks for Immunity Before Congressional Hearing

Clyde K. Valle
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Daraprim Price: Martin Shkreli Asks for Immunity Before Congressional Hearing

Ex-Turing Pharmaceuticals CEO Martin Shkreli has asked for immunity in order to testify before a congressional hearing.

Martin Shkreli was subpoenaed to testify about a 5,000% price increase for a drug.

His lawyer asked for immunity because of an ongoing Federal Trade Commission (FTC) investigation into the price rise, Reuters reported.

Martin Shkreli stepped down as Turing’s head following his arrest for investor fraud at a different company.

In a letter seen by Reuters, Martin Shkreli’s lawyer said the former CEO would “gladly cooperate” and produce documents at the hearing on January 26 if he is given immunity.Martin Shkreli arrest

On January 21, Martin Shkreli said he would remain silent if forced to appear at the congressional hearing.

The FTC is allegedly investigating anti-trust violation by Turing Pharmaceuticals when it raised the price of Daraprim.

The drug is used to treat toxoplasmosis, an infection common in people with AIDS.

Daraprim was invented in the 1950s and acquired by Turing for $50 million in 2015. In August, Turing increased Daraprim’s price from $13.50 to $750 per dose.

In December, Martin Shkreli was arrested in New York on charges he defrauded investors as the head of drug company Retrophin and as a fund manager at the hedge fund MSMB Capital Management.

He has denied the charges and was released on bail pending the trial.

Members of the House of Representatives Oversight Committee have argued Martin Shkreli cannot invoke his right against self-incrimination because his arrest is separate from the congressional investigations.

They have responded angrily to Martin Shkreli’s attempts to avoid testifying.

On January 21, Congressman Elijah Cummings, a committee member, said: “If he plans on trying to use his own intentional inaction as some kind of bogus excuse for not showing up at Tuesday’s hearing, people will see right through such a juvenile tactic.”

Martin Shkreli has mocked the subpoena on social media by tweeting a picture of the letter sent by the Oversight Committee with the comment: “Found this letter. Looks important.”

https://www.youtube.com/watch?v=7rcHAhhvk9c

Zika Outbreak: Specialists Warn Women to Avoid Pregnancy

Kathryn R. Bown
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Zika Outbreak: Specialists Warn Women to Avoid Pregnancy

Officials in Colombia, Ecuador, El Salvador and Jamaica have warned women to avoid pregnancy amid concerns over an illness causing severe birth defects.

The four countries recommended to delay pregnancies until more was known about the mosquito-borne Zika virus.

This followed an outbreak in Brazil.

Brazil said the number of babies born with suspected microcephaly – or abnormally small heads – had reached nearly 4,000 since October.

Meanwhile, US health authorities have warned pregnant women to avoid travelling to more than 20 countries in the Americas and beyond, where Zika cases have been registered.

The link between microcephaly and Zika virus has not been confirmed – but a small number of babies who died had the virus in their brain and no other explanation for the surge in microcephaly has been suggested.Zika outbreak pregnancy warnings

The virus is not contagious and normally has flu-like symptoms.

In Colombia, Health Minister Alejandro Gaviria urged women to delay pregnancies for up to eight months.

“We are doing this because I believe it’s a good way to communicate the risk, to tell people that there could be serious consequences,” he was quoted as saying by Reuters.

Similar warnings were issued in Ecuador, El Salvador and Jamaica.

However, women’s rights campaigners criticized the recommendations, saying women in the region often had little choice about becoming pregnant.

Monica Roa, a member of Women’s Link Worldwide group, said: “It’s incredibly naive for a government to ask women to postpone getting pregnant in a context such as Colombia, where more than 50% of pregnancies are unplanned and across the region where sexual violence is prevalent.”

Forty-nine babies with suspected microcephaly have died, Brazil’s health ministry says. In five of these cases an infection with Zika virus was found.

Brazil is experiencing the largest known outbreak of Zika, with most cases in the north-east. Others have been detected in the south-east, an area which includes Rio de Janeiro and Sao Paulo.

There has been a sharp rise in the number of cases of Zika in several other Latin American countries.

In Colombia, more than 13,500 cases have been reported.

The Centers for Disease Control and Prevention (CDC) issued initial travel warnings to pregnant women last week, adding eight more places to the list on January 22. The warnings now extend to:

  • Central and South America: Bolivia, Ecuador, Guyana, Brazil, Colombia, El Salvador, French Guiana, Guatemala, Honduras, Mexico, Panama, Paraguay, Suriname, Venezuela
  • Caribbean: Barbados, Saint Martin, Haiti, Martinique, Puerto Rico, Guadeloupe
  • Oceania: Samoa
  • Africa: Cape Verde

East Coast Blizzard Dumps Record Levels of Snow from Washington to New York

Nancy Clayson
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East Coast Blizzard Dumps Record Levels of Snow from Washington to New York

A huge snowstorm has hit the east coast and is expected to dump near-record levels of snow from Washington to New York.

More than 50 million people have been warned a “potentially paralyzing storm” will drop up to 30ins of snow in hours.

Southern states are already blanketed under 8ins and snow began falling in Washington DC at lunchtime.

Thousands of flights have been cancelled and people told to stay home.

The weather system affects a huge swath of the country, from Arkansas in the south to Massachusetts in the north-east, with eight people killed so far.

A rush for supplies led to long queues and empty shelves at supermarkets on January 22.

Washington is expected to be worst-hit. Mayor Muriel Bowser warned residents of 30ins of snow – that would beat the city’s record of 28in that fell during a two-day period in 1922.Washington snowstorm 2016

“I want to be very clear with everybody, we see this as a major storm. It has life and death implications,” she said.

High winds could compound problems, with 30mph winds forecast for Manhattan on January 23, and even stronger gusts in Washington and Baltimore.

As the weather system approached New York City, Mayor Bill de Blasio urged residents to be ready.

“We’re bracing for the first big storm of the winter. I want to let my fellow New Yorkers know we’re prepared, the agencies here are ready for what’s coming up ahead,” he said.

Facing criticism for saying he would be staying on the presidential campaign trail, New Jersey Governor Chris Christie reversed course, tweeting: “I’m sorry, [New Hampshire] but I gotta go home – we got snow coming.”

National Weather Service director Louis Uccellini said the system had “the potential of being an extremely dangerous storm that could affect over 50 million people”.

Securities Class Action Lawsuits Rise in 2015

Dana R
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Securities Class Action Lawsuits Rise in 2015

People who invest their money are rightly concerned about where their money goes. It may be no surprise to some that 2015 saw a rise in securities class action lawsuits. The number was higher than several previous years. A securities class action case is brought about when an investor suffers a loss due to a violation of securities laws. The cases often involve misinformation or significant facts being omitted to investors. When the truth is revealed, investors can bring a case against the company. They can seek to secure damages for the economic injury they suffered. Many people can gain large settlements as the result of their case.

law-2

Source: smlp.co.uk

Information from The D&O Diary revealed there were a record number of US class action suits last year. In particular, there was an increase in cases against IPO companies. During 2015, there were 186 securities lawsuits filed. The number is higher than any year since 2011. In 2014, there were only 170 suits filed, meaning an increase of 9% last year. The 186 cases were filed in federal court, and there were a further five in state court. Both of the figures together make the highest number since 2008.

Securities lawsuits are already off to a start in 2016. There are some notable names among those who have been hit with a class action lawsuit. For example, GoPro is one of the companies already facing a suit this year. In the second week of January, an investor alleged they covered up information about the company’s struggles. Joseph Bodri is saying that GoPro kept quiet about their underperforming Hero4 Session camera. He also says that they mislead investors about the projections for the first quarter of this year. Another company that has been hit with class action lawsuits is healthcare leader Merck.

A number of law firms and attorneys specialize in securities class action cases. The specifics involved in these cases can be very complicated. Anyone not well-versed in both law and financial matters would need to secure a lawyer to file a case. Martin Chitwood is one of the USA’s leading experts in the field. He and his firm have extensive experience with securities class actions. He and other attorneys who work with this type of litigation have in-depth knowledge of a number of issues. They need to know about not just securities law, but the other factors surrounding a class action case.

law

Source: Beth Cortez-Neavel

According to D&O, the increase in securities class action lawsuits is due mainly to one thing. Increase activity from IPO companies has contributed greatly. There was an increase in IPO-related cases during 2015. They totaled 29 in state and federal courts. Of all the suits filed, they make up about 15% of securities class action cases during the year. In 2014, there were only 17, which was just 10% of the total for that year. The higher number of lawsuits against foreign companies can also be taken into account.

Perhaps 2016 will also see a higher number of class action lawsuits. If there are, expect to see them in the pharmaceutical and tech industries. These were the two that featured heavily last year.

New Zealand Bride Moved to Tears by Wedding Haka

Nancy Clayson
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New Zealand Bride Moved to Tears by Wedding Haka

The footage of a New Zealand bride moved to tears by the haka performance at her wedding has become viral after being watched more than 19 million times.

Video of the Maori dance at the wedding of Aaliyah and Benjamin Armstrong is being widely shared on social media.

Aaliyah Armstrong, 21, said the haka was a sign of respect from her husband’s best man and family not, as some have commented online, an attempt to intimidate him, the BBC reported.

A haka – with its shouting, body-slapping and exaggerated facial expressions – is used in traditional Maori culture as a war cry to intimidate the enemy, but also to welcome special guests and at celebrations.New Zealand bride wedding haka

The video was filmed at Aaliyah and Benjamin Armstrong ‘s wedding reception in Auckland last week.

In it, they watch with emotion as the groomsmen and guests surprise them with a heartfelt performance of the traditional dance, before joining in themselves.

Women do not normally perform the haka in Maori culture but Aaliyah Armstrong said they can do at weddings.

The nearly three-minute video ends with the couple emotionally embracing the performers.

The haka was organized by the 23-year-old groom’s best man and was led by his older brother. It was filmed by her cousin’s production company.

Aaliyah and Benjamin Armstrong, who live in Auckland, posted the video for friends and its popularity has taken them by surprise.

Comments on social media have focused on the strong emotions that the video arouses.

Starbucks Quarterly Earnings Boosted by Christmas Sales

Clyde K. Valle
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Starbucks Quarterly Earnings Boosted by Christmas Sales

Starbucks has reported better-than-expected quarterly earnings as sales rose over the festive period.

The coffee giant’s total net revenue rose to $5.37 billion from $4.8 billion in the three months to December 27.

Starbucks’ revenue was boosted by Christmas holiday sales which rose 9%.Starbucks holiday sales

Chairman Howard Schultz said the strong results showed the “strength and relevance of the Starbucks brand around the world”.

Starbucks said 1-in-6 American adults received a Starbucks Card over the holiday season.

The company said sales at stores that had been open 13 months or more rose by 8%.

Visits to established stores in the China/Asia Pacific region rose by 4%, but missed the 6.1% growth target analysts had predicted.

During a call with investors, Starbucks CFO Scott Maw said the company had locked in the price for more than 90% of its coffee bean needs in 2016.

Schlumberger Cuts 10,000 Jobs on Oil Price Fall

Clyde K. Valle
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Schlumberger Cuts 10,000 Jobs on Oil Price Fall

Schlumberger has cut 10,000 jobs in Q4 of 2015 amid the plunge in oil prices.

News of the near-10% jobs cull came as the oilfield services giant unveiled a net loss for the last three months of $1 billion – its first quarterly loss in 12 years.

Schlumberger’s revenues fell 39% to $7.74 billion, with CEO Paal Kibsgaard warning that there was “no signs” of an oil price recovery on the horizon.

The company also announced a $10 billion share buy-back program.Schlumberger job cut 2016

This news pushed Schlumberger’s shares 4% higher in after-hours trading. The stock price fell almost 20% is 2015 as investor worried that customers were cancelling projects as the oil price tumbled.

The profit figures were better than many analysts had expected, helped by heavy cuts to offset the slump in oil prices.

The latest job cuts added to the 20,000 redundancies Schlumberger had already announced earlier in 2015.

Paal Kibsgaard warned that there were “no signs of pricing recovery in the short to medium term”.

“Negative market sentiments intensified in the fourth quarter, with oil over-production continuing and extending the bearish trend in global inventories,” Schlumberger said in its report.

The dramatic fall in prices “prompted customers to make further cuts to already significantly lower investment levels,” the company said, pointing to “unscheduled and abrupt activity cancellations.”

Oil prices have dipped below $28 a barrel in a drawn-out slump since mid-2014.

Many analysts have slashed their 2016 oil price forecasts, with Morgan Stanley analysts saying that “oil in the $20s is possible”.

Economists at the Royal Bank of Scotland say that oil could fall to $16, while Standard Chartered predicts that prices could hit just $10 a barrel.

Boeing to Cut 747-8 Jumbo Jet Production in Half

Clyde K. Valle
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Boeing to Cut 747-8 Jumbo Jet Production in Half

Boeing has decided to cut production of its 747-8 jumbo jet in half and take a charge of $569 million in its fourth quarter.

Starting in September the world’s biggest plane maker will slow the production rate to 6 planes a year from 12.

The four-engined plane is being overtaken in popularity by twin-engined craft which are more fuel efficient.

However, the 747 will still be used for the Air Force One presidential fleet, which is due to be upgraded.

Boeing shares dipped shortly after the announcement but in Friday trading are up almost 2%.

In recent years the 747 has been more popular as a cargo plane, rather than a passenger jet.

Photo Wikipedia
Photo Wikipedia

Production had already fallen in March of this year to one aircraft a month, from 1.3.

Ray Conner, chief executive of

Boeing Commercial Airplanes CEO Ray Conner said in a statement: “The air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 freighter.”

The company said global passenger traffic and demand remained strong.

Boeing and European rival Airbus delivered record craft in 2015.

However, despite the record deliveries, new orders fell by half last year.

Boeing is ramping up production of its 787 Dreamliner, built largely with lightweight composite materials that reduce fuel use.

Dreamliner production will rise from the current 10 per month rate to 14, by 2020.

Otto Frederick Warmbier: North Korea Arrests American Student for Hostile Act

Diane A. Wade
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Otto Frederick Warmbier: North Korea Arrests American Student for Hostile Act

American student Otto Frederick Warmbier has been arrested in North Korea for committing a “hostile act” against the state.

Otto Frederick Warmbier is a University of Virginia student, says state news agency KCNA.

He had entered North Korea as a tourist with the intention “to destroy the country’s unity”, said KCNA, which added that the US government had “tolerated and manipulated” him.

The agency did not give further details, but said he was now under investigation.

An official at the US embassy in the South Korean capital, Seoul, told Reuters it was aware of the arrest.North Korea arrests American student

North Korea sometimes uses the detention of foreigners as a means of exerting pressure on its adversaries.

China-based tour agency Young Pioneer Tours released a statement confirming that Otto Frederick Warmbier had been detained while on one of their tours in Pyongyang, and said his family had been informed.

It had earlier told Reuters that Otto Frederick Warmbier was arrested on January 2.

“We are in contact with the Swedish Embassy… who are working with the Ministry of Foreign Affairs to address the case. We are also assisting the US Department of State closely with regards to the situation,” it said in the statement.

“In the meantime we would appreciate Otto’s and his family’s privacy being respected and we hope his release can be secured as soon as possible.”

Sweden represents US interests in North Korea as Washington and Pyongyang do not have diplomatic relations.

Otto Frederick Warmbier, listed by the University of Virginia’s directory as an undergraduate commerce student, is the third Westerner known to be held in North Korea.

Hyeon Soo Lim, a Canadian pastor of South Korean origin, was sentenced to life imprisonment in December for an alleged plot to overthrow the government.

A Korean-American is also thought to be in North Korean detention on charges of spying.

The latest incident comes amid escalating tensions, after North Korea said it had successfully tested a hydrogen bomb. The claim has not yet been confirmed.

South Korea has resumed propaganda broadcasts over the border, while North Korea has been dropping propaganda leaflets on the South.

The US is leading calls for new UN economic penalties against North Korea in the wake of the nuclear test.

The state department strongly advises Americans against travelling to North Korea.

In 2014, North Korea released three Americans it was holding in detention – Matthew Todd Miller, Jeffrey Fowle and Kenneth Bae.

Asian Stock Markets Recover on Oil Prices Rebound

Clyde K. Valle
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Asian Stock Markets Recover on Oil Prices Rebound

Asian stock markets have continued recovery, picking up on a rebound in oil prices and a strong lead from the US and Europe.

The recovery comes after a sharp sell-off earlier in the week.

Meanwhile, hints from European Central Bank (ECB) on January 21 that it might consider more monetary easing helped lift investors’ confidence.

In Japan, the Nikkei 225 index jumped 5.9% to close at 16,958.53, after hitting at 15-month low the previous day.

Chinese markets also managed to recover some of the past days’ heavy losses.Asian stock markets recovery January 2016

The mainland benchmark Shanghai Composite gained 0.8% to 2,901.32 points, while Hong Kong’s Hang Seng rose 2.2% to 18,950.19 points.

Markets were encouraged by a recovery in oil prices, which had hit 12-year lows earlier in the week.

Brent crude was up 98 cents at $30.23 a barrel, while US crude was 85 cents higher at $30.38 a barrel.

In Australia, the S&P ASX 200 closed by 1.1% higher, at 4,916.00 points.

Among the market’s standout performers were several of the big oil and commodity companies, buoyed by a rise in the oil price.

BHP Billiton and Rio Tinto were 7.5% and 3.4% up respectively, while Santos climbed 11%.

Stocks of winemaker Treasury Wine Estates also stood out, jumping as much as 17.5% to a record high after the company provided strong full-year profits guidance in a market update.

In South Korea, the benchmark Kospi index followed the region’s trend, closing the day 2.1% higher at 1,879.40 points.

On January 21, shares in Europe and the US closed higher, helped by comments from ECB president Mario Draghi.

After the ECB had kept eurozone rates on hold, Mario Draghi hinted that the bank might take more action to try to stimulate the eurozone economy later this year.

He said the bank would “review and possibly reconsider” monetary policy at its next meeting in March.

Mario Draghi also said eurozone rates would “stay at present or lower levels for an extended period” and there would be “no limits” to action to reflate the eurozone.

https://www.youtube.com/watch?v=0UDvd6xXnmQ

East Coast Blizzard: Millions Prepare for Record Levels of Snow

Diane A. Wade
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East Coast Blizzard: Millions Prepare for Record Levels of Snow

East coast is prepared for a huge blizzard which is expected to dump near-record levels of snow on Washington and the Mid-Atlantic region.

More than 50 million people have been warned of a “potentially paralyzing storm” late on Friday, January 22, that will bring 24ins of snow within hours.

There are warnings the blizzard could cause power outages and will bring road and air travel to a halt.

A rush for supplies led to long queues and empty shelves at supermarkets.

The weather system has already proved to be deadly, with two drivers killed in North Carolina, one in Tennessee and a pedestrian dead in Maryland.East Coast blizzard 2016

States of emergency has been declared in Maryland, North Carolina, Georgia, Pennsylvania, Virginia and the District of Columbia.

Washington DC’s transport system – the second busiest in the US – will close all weekend.

Garth Brooks has postponed two sold-out concerts in Baltimore due to the upcoming blizzard.

Schools across the region are closed on January 22 and airlines have issued waivers for travel, meaning passengers can rebook.

High winds could compound problems, with 30mph winds forecast for Manhattan on January 23, and even stronger gusts in Washington and Baltimore.

National Weather Service director Louis Uccellini said the system had “the potential of being an extremely dangerous storm that could affect over 50 million people”.

He added: “We are talking about a potentially paralyzing storm that is already setting up.”

The record snowfall for Washington is 28ins that fell during a two-day period in January 1922.

Boston, which bore the brunt of repeated snowstorms last year, is expected to escape relatively lightly this time, with just a few inches.

Snowfall predictions: 24ins – NE Virginia, 20ins – Washington DC, 12-18ins – Philadelphia, 14ins – Kentucky, 10ins – New York City and Long Island.

https://www.youtube.com/watch?v=CHUXbXKHt8I

Mariah Carey Is Engaged to James Packer

Lisa.Felice
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Mariah Carey Is Engaged to James Packer

Mariah Carey got engaged to Australian billionaire James Packer, multiple outlets have reported.

The singer and her fiancé went public with their relationship in June 2015 after they were seen on holiday together in Italy.

According to Forbes magazine, 47-year-old James Packer is Australia’s fourth-richest person with a fortune estimated to exceed A$4.7 billion ($3.1 billion).Mariah Carey and James Packer engagement

Mariah Carey, 45, is one of the biggest selling artists of all time.

She released her first album in 1990.

James Packer, who inherited an Australian media empire from his father Kerry Packer, and now operates casinos, split from his second wife model and singer Erica Baxter in 2013.

Mariah Carey announced her break-up from Nick Cannon in 2014.

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