Archive for the ‘World News’ Category

Pakistan blasts kill 45

Friday, March 12th, 2010

Twin suicide attacks have targeted the Pakistani military, killing 45 people in the second attack to hit security forces in the country’s cultural capital Lahore this week.

Police said the bombers walked up to Pakistani army vehicles in the densely populated R A Bazaar area, blowing themselves up as people sat down to eat before the main Muslim weekly prayers were to begin.

The army cordoned off the tree-lined street where there were shops and a mosque, preventing access to journalists as ambulances raced through the city of 8 million to ferry the dead and wounded to hospitals.

The blasts underscored rising volatility in Lahore, where security forces have been a common target in attacks blamed on Taliban and Al-Qaeda-linked militants opposed to Pakistan’s alliance with the United States.

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We Are The World 2010 – Miley Cyrus kills it

Saturday, February 13th, 2010

25 years ago Michael Jackson, Lionel Richie, and Quincy Jones joined forces to make a song benefit for Africa called “We Are The World” which got together top music artists from Bob Dylan to The King of Pop for what’s turned out to be a classic song.

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Stocks Rise Around World on Dubai Bailout; Nakheel Bonds Surge

Monday, December 14th, 2009
Stocks Rise Around World on Dubai Bailout; Nakheel Bonds Surge

Stocks Rise Around World on Dubai Bailout; Nakheel Bonds Surge

Dec. 14 (Bloomberg) — Stocks rose from Shanghai to London as Abu Dhabi provided $10 billion to avert a default by Dubai’s Nakheel PJSC. The euro rose as the bailout eased concern that Europe’s biggest banks would write down loans to the emirate.

The MSCI World Index climbed for a third day, gaining 0.4 percent at 10:13 a.m. in London. Dubai’s equity index jumped 10 percent, the most in 14 months, and Nakheel’s $3.52 billion Islamic bond maturing today doubled to 109.5 cents on the dollar. The euro strengthened against 14 of the 16 most-traded currencies, while copper climbed for a second day.

Abu Dhabi’s pledge reassured investors who had sent stock markets tumbling last month on concern defaults would slow the global economic recovery. Greek Prime Minister George Papandreou may announce measures to cut the European Union’s biggest budget deficit later today after the nation’s bonds plunged to their lowest in seven months last week.

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WRAPUP 1-Abu Dhabi’s $10 bln supports Dubai to end-April

Monday, December 14th, 2009

* Dubai allocates $4.1 bln for Nakheel bond

* New Dubai law prepares for possible Dubai World bankruptcy

* Dubai World standstill deal still requires creditor ok

* Stocks surge on deal, but more debt looms in coming years

* Nakheel, Limitless assets only could be up for sale

(Recasts)

By Amran Abocar and Rachna Uppal

DUBAI, Dec 14 (Reuters) – Abu Dhabi provided its flashy but debt-laden neighbor Dubai a $10 billion lifeline to last its troubled flagship company until the end of April, heading off a bond default on payment day and sending Gulf markets higher.

Dubai World [DBWLD.UL], the conglomerate at the centre of a $26 billion debt storm, still needs creditors to agree a standstill on a massive restructuring in order to get financial support to cover working capital and interest expenses. [ID:nLDE5BD02K]

And analysts said the emirate’s troubles were not over.

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Asian markets rebound after Dubai’s $10B bailout

Monday, December 14th, 2009
Asian markets rebound after Dubai's $10B bailout

Asian markets rebound after Dubai's $10B bailout

HONG KONG – Asian stocks rebounded from early losses Monday after Dubai announced it was receiving $10 billion in emergency funds to cover its massive debts.

Dubai’s government said it was receiving a bailout from its from oil-rich neighbor Abu Dhabi to pay down debts owed by the struggling Dubai World investment conglomerate.

The state-owned company’s announcement it would delay payments on $60 billion in debt spooked markets in recent weeks as investors worried about more financial turmoil and reevaluated their assumptions about the ability of governments to make good on their enormous debts. So investors seemed relieved, as least for now, that the Middle Eastern city-state’s investment arm would have enough money to help pay $4.1 billion in debt due Monday.

“The Dubai news is a big surprise to the market,” said Dariusz Kowalczyk, chief investment strategist for SJS Markets in Hong Kong. “We were preparing for a lack of payment today and now they’re saying they will pay. This is definitely positive for investor confidence.”

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Senate sends $1.1 trillion spending bill to Obama

Monday, December 14th, 2009
Senate sends $1.1 trillion spending bill to Obama

Senate sends $1.1 trillion spending bill to Obama

WASHINGTON – The Senate on Sunday passed a $1.1 trillion spending bill with increased budgets for vast areas of the federal government, including health, education, law enforcement and veterans’ programs.

The more-than-1,000-page package, one of the last essential chores of Congress this year, passed 57-35 and now goes to President Barack Obama for his signature.

The weekend action underlined the legislative crush faced by Congress as it tries to wind up the year. After the vote, the Senate immediately returned to the debate on health care legislation that has consumed its time and energy for weeks. Senate Democrats hope to reach a consensus in the coming days on Obama’s chief domestic priority.

The spending bill combines six of the 12 annual appropriation bills for the 2010 budget year that began Oct. 1. Obama has signed into law five others.

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Hamas celebrates anniversary in war-damaged Gaza

Monday, December 14th, 2009
Hamas celebrates anniversary in war-damaged Gaza

Hamas celebrates anniversary in war-damaged Gaza

GAZA CITY, Gaza Strip – The Islamic militant group Hamas is marking the anniversary of its 1987 founding with celebrations Monday, hoping to show it still has broad support despite four years of rule that have led Gaza into war, poverty and isolation.

Gaza was decked out in Islamic green, with Hamas flags fluttering from roofs and lampposts. Hamas’ radio and TV stations exhorted Gazans to attend a mass rally after Muslim midday prayers.

Since last year’s anniversary, which drew tens of thousands of supporters, Hamas has suffered several setbacks, key among them Israel’s military offensive on Gaza last winter.

The three-week war, launched to halt rocket fire from Gaza, failed to dislodge Hamas but made it harder for the militants to govern.

Hamas has been unable to rebuild homes, sewage lines and water pipes destroyed in the assault because Israel and Egypt continue to enforce a border blockade. Basic goods like food and some medicines are allowed into Gaza, but construction materials are not.

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Group contends popular Zhu Zhu Pets toys unsafe

Saturday, December 5th, 2009
Group contends popular Zhu Zhu Pets toys unsafe

Group contends popular Zhu Zhu Pets toys unsafe

A consumer group in California says one of the hottest-selling toys this holiday season may not be safe for youngsters, reports CBS Station KPIX correspondent Kiet Do.

When it debuted, the Zhu Zhu pet hamster was one of the top 15 hottest toys of the holiday season.

But the consumer watchdog group Good Guide, based in the Bay Area, says that if you have one, keep the receipt.

In rating the product goodguide.com says it found a chemical called antimony, which is a metal with potential health hazards.

“If ingested in high enough levels [it] can lead to cancer, reproductive health, and other human health hazards,” said Dara O’Rourke, an associate professor of environmental science at U.C.-Berkeley, and co-founder of goodguide.com.

On Saturday evening, the manufacturer of Zhu Zhu Pets, Cepia LLC, released a statement to CBS News responding to the Good Guide warning. In the statement, the company says that its hamster toys, named Mr. Squiggles, are “absolutely safe and has passed the most rigorous testing in the toy industry for consumer health and safety.”

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Tom Brokaw unhurt in NY highway wreck that kills 1

Friday, December 4th, 2009
Tom Brokaw unhurt in NY highway wreck that kills 1

Tom Brokaw unhurt in NY highway wreck that kills 1

NEW YORK – Former NBC News anchor Tom Brokaw and his wife said they escaped injury in a three-car accident on a New York City highway that killed a 30-year-old woman and injured a mail truck driver Friday afternoon.

The accident happened about 1 p.m. as Brokaw was driving in the left lane of the northbound Bruckner Expressway in the Bronx.

Police and the Brokaws said a 1998 Ford Expedition swerved to avoid a spool of cable bouncing in the far right lane, which caused the driver of the SUV to lose control.

The Expedition overturned and then collided with the mail truck, police said. Suejas Estrada of the Bronx was thrown from the Expedition and killed. She was pronounced dead at the scene.

The Brokaws said the out-of-control Expedition forced the mail truck into the couple’s lane. The truck collided with Brokaw’s vehicle. Police said the mail truck’s 54-year-old driver was taken to Westchester Medical Center with bumps and bruises. He was in stable condition Friday.

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US Marines launch offensive in Afghanistan

Friday, December 4th, 2009
US Marines launch offensive in Afghanistan

US Marines launch offensive in Afghanistan

KABUL – U.S. Marines swooped down behind Taliban lines in helicopters and Osprey aircraft Friday in the first offensive since President Barack Obama announced an American troop surge.

About 1,000 Marines and 150 Afghan troops were taking part in “Operation Cobra’s Anger” in a bid to disrupt Taliban supply and communications lines in the Now Zad Valley of Helmand province in southern Afghanistan, the scene of heavy fighting last summer, according to Marine spokesman Maj. William Pelletier.

Hundreds of troops from the 3rd Battalion, 4th Marines and the Marine reconnaissance unit Task Force Raider dropped by helicopters and MV-22 Osprey aircraft in the northern end of the valley while a second, larger Marine force pushed northward from the main Marine base in the town of Now Zad, Pelletier said.

A U.S. military official in Washington said it was the first use of Ospreys, aircraft that combine features of helicopters and fixed wing aircraft, in an offensive involving units larger than platoons.

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