****ASF Breaking News****

[noirua]

A bomb attack has hit the Marriott Hotel in the Pakistani capital, Islamabad, killing at least 31 people.

A blast created a 6 meter deep crater, and destroyed the entire front of the hotel.

A lorry approached the hotel and a blast occurred in a suspected suicide attack.

 

[subaru69]

Does this mean the Australian Cricket Team will have to find somewhere else to stay?

 

[kitehigh]

Apparently it was at least a ton of explosives which is a massive bomb. It is also a worry when the lorry gets past the security check point out the front which included a sniffer dog. I suppose they could have brought them off, or just plain incompentance, both just as likely.

I don't think the Australian cricket team will be touring Pakinstan any time soon.

http://news.bbc.co.uk/2/hi/south_asia/7627135.stm

 

[2020hindsight]

severe weather warning for Sydney... later this afternoon and/or this evening

 

[mayk]

It looks bad....

http://www.bom.gov.au/gms/IDE00035.200809220430.shtml

 

[white_goodman]

gotta love the care factor for pakistan

 

[noirua]

Reports say that there has been a shooting at a school in Kauhajoki (a vocational school), in NorthWest Finland and many are dead. The gunman is still inside the building.

The level of gun ownership in Finland is among the highest in the world.

 

[noirua]

Reports say that there has been a shooting at a school in Kauhajoki (a vocational school), in NorthWest Finland and many are dead. The gunman is still inside the building.

The level of gun ownership in Finland is among the highest in the world.

Reuters reports that 9 students are dead. A 20 year-old-man is in hospital with a gun shot wound to the head. He entered the college with an automatic rifle and wearing a ski mask.

 

[korrupt_1]

U.S. Senate Approves $700 Billion Financial-Rescue Legislation

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_Em8au.tjQs&refer=home

 

[noirua]

U.S. Senate Approves $700 Billion Financial-Rescue Legislation

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_Em8au.tjQs&refer=home

Only the Upper House vote. Lower house votes again on Friday.

 

[noirua]

Iceland's entire economy is in peril. The possibility of the collapse of the entire economy. The Prime Minister is just making a statement, in Icelandic, at this moment.
Shares in all six banks are suspended.

The Iceland Government has ordered all banks to sell all their foreign assets immediately.

Iceland is to cover losses for domestic account holders. Foreigners are limited to AU$33,000. There has been a run on Icelandic Banks in the UK as they limit payment to foreigners.

 

[noirua]

Iceland have secured a US$6 billion dollar loan from Russia to bail the country out. The Government has frozen all bank accounts in Iceland and abroad. They may be about to backtrack on promises to cover all accounts. The countries Prime Minister said that Iceland is facing "national bankruptcy."

The UK's Royal Bank of Scotland, the countries third largest bank, fell 40% this morning before recovering to a 32% fall, on rumours the bank is in trouble.

 

[noirua]

The UK's Chancellor of the Exchequer is to make an announcement at 7am BST Wednesday (5pm AEST), before the markets open.
Barclays Bank, Halifax Bank of Scotland, Royal Bank of Scotland and Lloyds TSB are to be partially nationalised and could not continue without a cash injection of more than AU$140 billion to bail them up.
The Bank of England is thought to have taken a stake in all the Banks in return for First Preference stock.

 

[noirua]

The world financial system is teetering on the "brink of systemic meltdown", the head of the International Monetary Fund (IMF) has warned in Washington.

Dominique Strauss-Kahn said rich nations had so far failed to restore confidence, but he endorsed a new action plan by the G7 group.

He also said the IMF was ready to lend to countries in dire need of capital.

Mr Strauss-Kahn spoke after talks with US President George W Bush, G7 finance ministers and the World Bank.

 

[noirua]

An earthquake in the southern Russian republic of Chechnya has killed at least 13 people and injured more than 100 more, officials said.

The magnitude 4.7 quake damaged roads, power supplies and communications across the Caucasus, and was felt as far away as Georgia and Armenia.

It was centred 40km east of the Chechen capital, Grozny, said the US Geological Institute.

A rescue team has been sent from Moscow to co-ordinate the relief effort.

 

[noirua]

The European Union has agreed to safeguard Europe's Banks and buy-in stock for cash injections following the UK's lead. The United States will also follow that lead safeguarding the US Banks.
Europe is continuing with discussions overnight in France.

The UK (FSA (equivalent to ASIC), UK Treasury and Bank of England), is continuing with meetings with the Royal Bank of Scotland, Barclays, Halifax Bank of Scotland and Lloyds TSB.
This meeting will continue overnight with plans to make an announcement at 7am BST (5pm AEST) Monday, before markets open in London.

The Chief Executive of RBOS, Sir Fred Goodwin, will resign on Monday.

The meeting in London is expected to announce that RBOS will require AU$45 billion, HBOS AU$27 billion, Lloyds TSB AU$20 billion and Barclays AU$10 billion. Details will be announced concerning part nationalization of these banks.

 

[Doris]

Wall Street is going green - at last!

Currently up and rising... 10:35am there...

8971.69 - up 520.50 - 6.16%

 

[noirua]

Trading in Woolworths shares has been suspended and the company put into administration.
The companies board will meet at 6pm BST to make the formal decision.

Deloitte will be appointed as administrators to the store chain and also to Entertainment UK, which supplies books and DVD's to supermarket groups.

The move will put tens of thousands of jobs under threat in the UK.

 

[pacestick]

noirua I am sure glad you put the last bit about the UK un there my pacemaker started going bezerk not that I hold shares in wow but if i missed that coming what else have i missed

 

[2020hindsight]

Trading in Woolworths shares has been suspended and the company put into administration. ... in the UK.

noirua I am sure glad you put the last bit about the UK un there my pacemaker started going bezerk not that I hold shares in wow but if i missed that coming what else have i missed

just what i was gonna say pacestick lol
WOW indeed.