Friday, July 26, 2013

Death toll rises to 78 in Spanish train crash

SANTIAGO DE COMPOSTELA, Spain (AP) ? A Spanish train that hurtled off the rails and smashed into a security wall as it rounded a bend was going so fast that carriages tumbled off the tracks like dominos, according to eyewitness accounts and video footage obtained Thursday.

The official death toll from Wednesday night's crash near this Christian festival city in northwest Spain rose to 78 in Spain's deadliest wreck in four decades.

Hospital officials said 141 people were injured, and 36 remained in critical condition Thursday, among them four children.

Prime Minister Mariano Rajoy, who was born in Santiago de Compostela, toured the crash scene alongside rescue workers and went to a nearby hospital to visit some of the wounded and their families.

"For a native of Santiago, like me, this is the saddest day," Rajoy said. He said judicial authorities and the Public Works Ministry had launched parallel investigations into what caused the crash.

Eyewitness accounts backed by security-camera footage of the moment of disaster suggested that the eight-carriage train carrying 218 passengers was going too fast as it tried to turn left underneath a road bridge. The speed limit on that section of track is 80 kilometers (50 miles) per hour, Spanish officials said.

The footage, which the Spanish railway authority Adif said probably came from one of its cameras, shows the train carriages start to buckle soon into the turn, with the first and second passenger carriages leaving the tracks first. The engine itself quickly follows, violently tipping on to its right side as it crashes into a concrete security wall and bulldozes its way along the ground.

In the background, all the rear carriages can be seen starting to decouple and come off the tracks. The picture goes blank as the engine appears to crash directly into the camera.

"I saw the train coming out of the bend at great speed and then there was a big noise," one eyewitness, Consuelo Domingues, told The Associated Press. "... Then everybody tried to get out of the train."

Santiago officials, who had been preparing for the city's annual Catholic festival Thursday, canceled it and took control of the main sports stadium to use as a makeshift morgue. There, relatives of many of the dead could be seen sobbing and embracing each other.

Maria Pardo Rios, spokeswoman for the Galicia region's main court, said 73 people died at the scene, four others after they were taken to hospitals. The Interior Ministry later confirmed a 78th death.

A regional Galicia health official, Rocio Mosquera, told reporters Thursday afternoon that 95 people remained hospitalized, among them 36 in critical condition, including four children.

The Interior Ministry, responsible for law and order, ruled out terrorism as a cause.

It was Spain's deadliest train accident since 1972, when a train collided with a bus in southwest Spain, killing 86 people and injuring 112.

"July 24 will no longer be the eve of a day of celebration but rather one commemorating one of the saddest days in the history of Galicia," said Alberto Nunez Feijoo, regional president of Galicia. Santiago de Compostela is its capital.

The accident created a scene that was "Dante-esque," Feijoo said. He declared seven days of mourning for the victims.

Rescue workers spent the night searching through smashed carriages alongside the tracks.

As dawn broke, cranes brought to the scene were used to lift the carriages off the tracks. Rescue workers collected passengers' scattered luggage and loaded it into a truck next to the tracks.

Rescuers described a scene of horror immediately after the crash. Smoke billowed from at least one carriage that had caught fire, while another had been torn into two parts.

Residents of the residential neighborhood closest to the rail line struggled to help victims out of the toppled cars. Some passengers were pulled out of broken windows. Television images showed one man atop a carriage lying on its side, using a pickaxe to try to smash through a window. Other rescuers used rocks to try to free survivors from the fiery wreckage.

Nearby, rescue workers lined up bodies covered in blankets alongside the tracks.

State-owned train operator Renfe said it couldn't confirm how many staff were on board the train. It said the crash happened at 8.41 p.m. (1841 GMT) about 2.5 miles (4 kilometers) south of Santiago de Compostela.

Spanish media said the train had two drivers aboard and both survived.

Renfe said it and Adif, another state-owned company that manages tracks, signals and other railway infrastructure, were cooperating with a judge appointed to investigate the accident.

It was the world's third major rail accident this month.

On July 12, six people were killed and nearly 200 were injured when four cars of a passenger train derailed south of Paris.

On July 6, 72 cars carrying crude oil derailed in Lac-Megantic, Ontario, setting off explosions and fires that killed 47 people.

Catholic pilgrims converge on Santiago de Compostela annually to celebrate a festival honoring St. James, a disciple of Jesus whose remains are said to rest in a shrine. The city is the main gathering point for those who reach the end of the El Camino de Santiago pilgrimage route that has drawn Christians since the Middle Ages.

Several injured passengers said they felt a strong vibration just before the cars jumped the tracks, according to Xabier Martinez, a photographer who talked with them after arriving at the scene as rescue workers were still removing bodies.

One passenger, Ricardo Montero, told the Cadena Ser radio station that "when the train reached that bend it began to flip over, many times, with some carriages ending up on top of others, leaving many people trapped below. We had to get under the carriages to get out."

Another passenger, Sergio Prego, told Cadena Ser the train "traveled very fast" just before it derailed and the cars flipped upside down, on their sides and into the air.

"I've been very lucky because I'm one of the few able to walk out," Prego said.

The Alvia 730 series train started from Madrid and was scheduled to end its journey at El Ferrol, about 95 kilometers (60 miles) north of Santiago de Compostela. Alvias operate high-speed services but do not go as fast as Spain's fastest bullet trains, called AVEs.

The maximum Alvia speed is 250 kph (155 mph) on tracks made especially for the AVEs, and they travel at a maximum speed of 220 kph (137 mph) on normal gauge rails.

Other major train crashes in Spain include a 1944 accident involving three trains that crashed in a tunnel. That disaster produced wildly disputed death tolls ranging from the government's official count of 78 to more than 500, according to later research.

In 2006, 43 people died when a subway train crashed because of excessive speed in the southern city of Valencia. In 2004, 191 died when al-Qaida-inspired terrorists detonated 10 bombs on four Madrid commuter trains.

___

Clendenning reported from Madrid. Associated Press writers Ciaran Giles in Madrid and Shawn Pogatchnik in Dublin contributed to this report.

Source: http://news.yahoo.com/death-toll-rises-78-spanish-train-crash-130708345.html

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Facebook shares rise 18 on back of higher-than-expected mobile ad sales

  • Kyrgyzstan News.Net - Wednesday 24th July, 2013

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  • FCA fines RBS to not reporting almost 45mn transactions

    Kyrgyzstan News.Net - Wednesday 24th July, 2013

    LONDON - The UK regulator has fined Royal Bank of Scotland (RBS) 5.6 million pounds for failing to report almost 45 million transactions and incorrectly reporting 804,000 trades made in wholesale markets. The fine relates to the period between November 2007 and February 2013 when the regulators Financial Conduct Authority (FCA) found mistakes in more than 37% of relevant transactions carried ...

  • Facebook shares rise 18 on back of higher-than-expected mobile ad sales

    Kyrgyzstan News.Net - Thursday 25th July, 2013

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    Sky News - Thursday 25th July, 2013

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    Reuters - Thursday 25th July, 2013

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  • Nigeria MTN Gets First Nigerian Chief Executive Officer

    All Africa - Thursday 25th July, 2013

    Michael Ikpoki, currently the CEO of MTN Ghana has been named as the new Chief Executive Officer of MTN Nigeria. Ikpoki replaces Brett Goschen, who took on the role of MTN Group Chief Financial Officer and Executive Financial Director on the Board on Monday. Ikpoki was appointed CEO of MTN Ghana in April 2011 after successfully running MTN Nigeria's Sales and Distribution channel as its ...

  • Earnings help Britains FTSE hold near 7-week highs

    London South East - Thursday 25th July, 2013

    * Good Ifo numbers could lift euro towards 1-month highs* Sterling firmer before UK GDP numbers* NZD up, mkt sees hawkish tint in RBNZ statementBy Anirban NagLONDON, July 25 (Reuters) - The euro rose against the ...

  • Unilever first-half net profit rises 13 percent

    Sign on San Diego - Thursday 25th July, 2013

    AMSTERDAM -; Unilever PLC, the maker of products including Lipton tea, Ben & Jerry's ice cream, and Axe deodorants, says its first-half net profit for 2013 rose 13 percent compared with the same period last year to 2.7 billion euros ($3.58 billion), despite tough market ...

  • Caterpillar Outlook Drags Stocks Down

    The Ledger - Thursday 25th July, 2013

    A gloomy outlook from Caterpillar, the world's largest construction equipment company, tugged the stock market lower Wednesday. The meager drop gave the stock market two consecutive days of losses, the first time that's happened in an otherwise strong month. Caterpillar's earnings fell 43 percent in the second quarter as China's economy slowed and commodity prices sank. The ...

  • Asian stocks retreat from seven-week highs

    IOL - Thursday 25th July, 2013

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    CNBC - Thursday 25th July, 2013

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  • Mixed earnings from the US weighs on stocks Techs perform well

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    FXstreet - Thursday 25th July, 2013

    Asian markets were capped from reaching higher levels and moved lower as investors chose to show caution ahead of the earnings season. There are also fresh concerns emerging regarding China's liquidity. Decent economic reports out of both Europe and the U.S. helped to minimize losses. U.S. Home Sales rose by 8.3 percent in June. This is the highest level since May 2008. Also manufacturing ...

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    Reuters ? The logo of the Swiss drugmaker Roche is seen on a factory in Burgdorf near Bern, Switzerland in this November 17, 2010 file photo. REUTERS/Pascal ...

  • Caterpillar Q2 Profit Plunges On Inventory Changes Slashes Full Year Outlook

    RTT News - Thursday 25th July, 2013

    Quote ) Wednesday reported a plunge in profit for the second quarter as sales declined across all segments and regions impacted mainly by changes in dealer inventory. Further, the mining and agricultural equipment maker slashed its annual forecast.Caterpillar CEO Doug Oberhelman said, ''We experienced headwinds during the quarter, and while we had a positive $135 million gain related ...

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    Merafe Resources expected to report a 20 percent drop in earnings for the six months to June compared with the comparable period last year, the company said yesterday. This came after the group was hit by an impairment on its Horizon mine, which is for sale. Merafe expected basic earnings a share of between 1.2c and 1.4c from 5.5c last year. Headline earnings a share were likely be between 3.5c ...

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  • Source: http://www.kyrgyzstannews.net/index.php/sid/216049447/scat/3a8a80d6f705f8cc

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    Saturday, July 20, 2013

    Brinks India and BVC Group Logistics enter into strategic partnership

    Brinks India and BVC Group Logistics, a leading player in providing logistic solutions to the gem and jewellery sector, have entered into a strategic partnership to provide a seamless service throughout India and internationally.

    This arrangement involves that BVC Group will be using Brinks Global Services network for its Diamond and Jewellery (D&J) International Shipments to more than 100 countries (door-to-door secure delivery) and will cater to all the domestic logistics and customs clearance of D&J for Brinks Arya, the Indian arm of the international major. Further expansion of infrastructure and use of sophisticated technology such as, expansion in the number of armoured vehicles, security equipment and ERP and tracking devices are also part of the new partnership. Also, along with small value shipment /economical shipping, the partnership will also involve exhibition management and vaulting through an armoured network.

    ?Our goal is to provide logistics services to the D&J sector on a large scale and ensure maximum outreach. The partnership with Brinks will help us access some of the best global practices and technology guaranteeing a strong foothold within this niche but very critical business sector?, Bhavik Chinai, Director, BVC Group Logistics said. ?It brings together companies with decades of experience to provide a wider range of services and network coverage.?

    BVC Group will now handle the pan-India diamond and jewellery export and import of Brinks India, making it the largest diamond and jewellery supply chain management company. Within the gems and jewellery industry, BVC Group currently handles over 45% of the International Trade of Gems and Jewellery of India. "By leveraging BVC Group's exceptional sales and customer service culture on top of Brink's global infrastructure we believe we are creating an unmatched offering which will support India's position as the leading centre for the global Diamond & Jewellery industry." commented Samir Hosangady, Managing Director, Brinks India.

    Source: http://www.diamondworld.net/contentview.aspx?item=7990

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    Russian opposition leader Navalny released

    KIROV, Russia (AP) ? A Russian court on Friday released opposition leader Alexei Navalny from custody less than 24 hours after he was convicted of embezzlement and sentenced to five years in prison.

    The release came after a surprise request by prosecutors, who said that because Navalny is a candidate in this fall's Moscow mayoral race keeping him in custody would deny him his right to seek election.

    Judge Ignatiy Embasinov supported that appeal, saying that Navalny's incarceration would "prevent him from exercising his rights of being elected."

    Navalny's supporters cheered Embasinov's order.

    The release, under the condition that he not travel outside Moscow, will extend until appeals of his conviction are completed.

    After the Friday decision, a smiling Navalny ? a popular blogger who has exposed high-level corruption and mocked the Kremlin ? emerged from the caged-off defendants' section of the courtroom, hugged his wife, and thanked the supporters who had protested his conviction on Manezhnaya Square next to the Kremlin the day before.

    Navalny, dressed in a black T-shirt and jeans, said his release was a result of Thursday's protests. He claimed his conviction and sentence "had been vetted by the presidential administration ... but when people came out on Manezhnaya they rushed to go back on that decision."

    Navalny's lawyer Olga Mikhailova described Friday's ruling as unprecedented in Russia. His conviction on Thursday was criticized by the United States and the European Union.

    Outside the court, Navalny was greeted by supporters, one of them offering him blini ? Russian pancakes ? a sarcastic play on the name of the judge who sentenced him, Sergei Blinov.

    Navalny said it's "impossible to predict" whether Friday's decision could raise the chances of his acquittal on appeal. He also expressed resentment over being manipulated, saying he has not yet decided whether to continue his mayoral campaign.

    "I'm not some kitten or a puppy that can be thrown out of election, say, 'you're not running' and later say 'yes, let's get him back in.' I will get back to Moscow and we will talk it over with my election headquarters," he said.

    Presentation of the appeal and the decision by the court for the Kirov region took little more than an hour, a sharp contrast to the droning 3 ?-hour verdict reading and sentencing in a lower court the previous day.

    Navalny said he learnt about the protests in Moscow only on Friday morning from his lawyers. He said he was awakened and summoned to go to court: "I thought maybe it's a new court case."

    Navalny rose to prominence among the opposition during a series of massive protests in Moscow against President Vladimir Putin's re-election to a third presidential term in March 2012.

    Navalny began his rise to prominence by blogging about his investigations into corruption at state-owned companies where he owned shares, reaching hundreds of thousands of people. He and his team of lawyers and activists have plumbed property registers abroad to identify top officials and lawmakers who own undeclared foreign assets and hold foreign citizenship.

    Navalny's blog quickly became an Internet sensation not only because of his exposures but because of its engaging illustrations, funny images and witty catchphrases. It was Navalny who first called the dominant United Russia party "the party of crooks and thieves," a phrase that still dogs Kremlin loyalists.

    The opposition leader's investigations targeted a wide circle of Putin loyalists ? from members of Parliament to state bankers ? threatening to discredit the system of governance he has built.

    ___

    Associated Press writer Jim Heintz in Moscow contributed to this report.

    Source: http://news.yahoo.com/russian-opposition-leader-navalny-released-072257210.html

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    Friday, July 19, 2013

    Daniel Cormier and Roy Nelson show signed ?fight contract? for UFC 166 bout

    Daniel Cormier beat Frank Mir in April. Since then, he's been pushing for a new fight, and wants Roy Nelson. The two had a war of words after Nelson called Cormier an "Uncle Tom," and they both have been pushing for a fight.

    The only problem? Nelson's loss to Stipe Miocic was the last bout on his UFC contract. He has reportedly been negotiating for a new contract, but hasn't yet signed on the dotted line.

    Cormier wants to fight Nelson at UFC 166, where his teammate Cain Velasquez will fight Junior dos Santos in a title bout. Instead of continuing to wait to for word from Nelson or the UFC, Cormier pulled out a sheet of loose leaf paper and drew up his own contract. He tweeted it to Nelson, who returned it "signed."

    If only it were that simple. Hopefully, the UFC and Nelson can come to an agreement on the contract because it could be a fun bout. Nelson had a terrible showing in a decision loss to Miocic. Before that, he had three straight knockout wins. Cormier, a two-time Olympic wrestler, is 12-0. He won the Strikeforce heavyweight grand prix, and then won his UFC debut with a decision over Mir.

    Is this a fight you want to see? Speak up on Facebook or Twitter.

    Source: http://sports.yahoo.com/blogs/mma-cagewriter/daniel-cormier-roy-nelson-show-signed-fight-contract-201115771.html

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    Obama wins nominee battle with Senate GOP

    The Senate confirmed President Obama?s nominees to head the Labor Department and the Environmental Protection Agency Thursday, clearing the decks of the controversial nominees that had threatened to push the Senate into a parliamentary meltdown just two days ago.

    Thomas Perez was confirmed to be Labor Department secretary on a 54-46 party-line vote after having barely survived a GOP filibuster a day earlier. Meanwhile, Gina McCarthy was confirmed to be EPA administrator on a 59-40 vote.

    If all Republicans who voted against Mr. Perez had decided to filibuster, they could have blocked his nomination. But thanks to a deal reached on Tuesday, some Republican senators agreed to let the nominees go through in exchange for Democrats agreeing not to use a parliamentary short cut to rewrite the rules and end the chance the minority to filibuster executive branch nominees in the future.

    ?As we all saw this week, the Senate came together. We talked to each other, we made bipartisan progress, and we were able to reduce the gridlock and approve President Obama?s nominees, and that was a very, very positive step forward for all of us,? said Sen. Patty Murray, Washington Democrat.

    Republicans had blocked Ms. McCarthy for months as they sought to force the EPA to agree to more transparency. The agency has been accused of failing to keep electronic records such as emails, and several former officials used private email accounts to conduct agency business.

    But while some lawmakers has personal reservations about Ms. McCarthy, a longtime top EPA official, most who voted against her said they were really sending a signal to Mr. Obama to rein in the agency.

    ?My fight is with President Obama and the EPA, the regulatory agency that has consistently placed unreasonable regulations and unobtainable standards on energy production, rather than focus on efforts to develop a domestic all-of-the-above energy strategy for the future,? said Sen. Joe Manchin III, a Democrat from West Virginia, a coal-producing state where the EPA is often viewed as a hindrance to economic development.

    For Republicans, though, Mr. Perez was even more controversial. They accused him of lying, of obstructing a congressional investigation and of putting his ideology ahead of the law in his tenure leading the Justice Department?s civil rights division.

    ?Based on the evidence, Tom Perez is more than just some left-wing ideologue ? he?s a left-wing ideologue who appears perfectly willing to bend the rules to achieve his ends,? said Senate Minority Leader Mitch McConnell.

    Hispanic groups had made the confirmation of Mr. Perez, the son of Dominican immigrants, a top priority, saying he would be a good addition to Mr. Obama?s Cabinet. Now they have turned their attention to the next major opening for the top job at the Homeland Security Department, where Secretary Janet Napolitano is on the way out.

    The National Association of Latino Elected and Appointed Officials said Mr. Obama should ?act swiftly to ensure his Cabinet is fully representative of the diversity of this great nation by nominating a high-level Latino candidate.?

    The Senate has now confirmed four of the seven nominees who Democrats had said must be approved in order to prevent them from using the so-called ?nuclear option,? a parliamentary tactic to change the Senate?s operating rules in mid-session and limit filibusters.

    As part of that deal, Mr. Obama has withdrawn two other nominees he made to the National Labor Relations Board, and replaced them with two new NLRB appointments.

    The two withdrawn names were controversial because Mr. Obama had used his recess powers to appoint them earlier last year, but federal appeals courts have called those nominees into question, saying the president violated the Constitution in making the appointments.

    Source: http://www.washingtontimes.com/news/2013/jul/18/gina-mccarthy-confirmed-head-epa/?utm_source=RSS_Feed&utm_medium=RSS

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    'Fast Money' Recap: Searching for Answers on Google

    NEW YORK (TheStreet) -- The S&P 500 made fresh all-time highs as Federal Reserve Chairman Ben Bernanke reassured investors that the Fed would continue to support the economy.

    Thursday's action saw both eBay (EBAY) and Intel (INTC) trading lower from poor earnings results. It didn't get any easier for the tech sector as both Google and Microsoft (MSFT) missed top- and bottom-line estimates.

    Google missed top-line estimates for the seventh quarter in the row, as higher tax rates and expenses plagued its earnings per share. On CNBC's "Fast Money" TV show, Karen Finerman said because of those factors, the miss looks worse than it actually is.

    However, she did note that the lower cost-per-clicks reported was pretty troubling. She said she was long the stock and would probably look to add more, although likely not Friday.

    Guy Adami said that when Google was making its push higher, $850 was seen as a level of resistance; that has since turned to support. Although he doesn't expect the stock to get that low, it is a good reference point for traders to get out of a long position if it fails to hold. Brian Kelly noted that we're starting to see a lot of companies missing top-line estimates, which means companies are failing to grow. This is troubling because the market has already started to price in revenue and earnings growth of 4%-6% and that's simply not happening. Dan Nathan added that Google tends to be volatile around earnings, citing that the company doesn't provide a whole lot of guidance for investors and traders. The show's host, Melissa Lee, added that Google has moved up 20% since its last earnings report back in April. On Microsoft, the crew talked to Dan Niles, co-CIO of Alpha One Capital Partners, who noted that it's the fourth top-line miss in the past five earnings reports for the company, with slumping PC sales continuing to plague results. He also said the company missed revenue estimates for all five of its major business segments. "Shame on you" if investors didn't take any money off the table with the stock up over 30% year to date, Nathan said. He added the Surface tablet has been an absolute disaster and the cloud is "so necessary" for Microsoft to get right.

    Source: http://feeds.thestreet.com/~r/tsc/feeds/rss/latest-stories/~3/8giXpdQKvPQ/fast-money-recap-searching-for-answers-on-google.html

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