Greece’s finance minister is breaking ranks with Prime Minister George Papandreou over his call to hold a referendum on a hard-fought European debt deal to rescue the country’s economy.
Evangelos Venizelos issued a written statement Thursday on returning from an emergency meeting in Cannes, France, where he accompanied Prime Minister George Papandreou for meetings with top European officials.
After the meeting, the French and Germany leaders said a Greek vote would decide whether the country stays in the eurozone, and vowed Athens would not get critical bailout funds until after the vote free credit score online.
Venizelos said Greece’s position within the euro was a “historic conquest” of the country that “cannot be put in doubt” and “cannot depend on a referendum.”
With financial help from St. Clair County, a Michigan company will build a perishable-goods warehouse at MidAmerica St. Louis Airport in Mascoutah. The facility will handle fresh fruit and vegetables bound for international markets.
The deal announced Thursday includes $2.15 million from the county in upfront money and for refrigeration equipment for the warehouse, which will cost up to $5.7 million.
North Bay Produce Inc. of Traverse City, Mich., will build the 36,448-square-foot warehouse, which will be completed by the middle of next year, officials said.
In exchange for the county’s help, the airport will own the warehouse after 15 years, officials said.
North Bay specializes in year-round production and marketing of fresh fruit and vegetables for customers in North America, Latin America and Europe Business Card Holders. County officials said the warehouse will help North Bay open a shipping route to Asia.
“A large portion of the product they will handle at Mid-America flies, and we look forward to hosting their worldwide air activity,” said County Board Chairman Mark Kern. “This is the anchor tenant for our international trade route linking Latin America with Asia.”
North Bay’s president, Mark Girardin, said the company searched for three years to find a distribution center in the Midwest.
The refrigeration equipment the county is contributing to the project came from a MidAmerica warehouse the Boeing Co. began using last year for assembly operations.
When it comes to the intersection of energy and geopolitics, few know more than economist Daniel Yergin.
Yergin cofounded and now chairs the IHS Cambridge Energy Research Associates, an energy consultancy. But he’s better known for his epic tale on the history of the global oil industry, “The Prize: The Epic Quest for Oil, Money, & Power,” a No. 1 best-seller that won the Pulitzer Prize for general nonfiction in 1992 and was later made into a PBS miniseries.
Yergin spoke Friday at the St. Louis County Public Library about his latest book, “The Quest: Energy, Security and the Remaking of the Modern World”
Toronto
The Toronto Historical Board plaque is the first hint to would-be buyers that 7 Wellesley Ave. is every bit as special as its $775,000 price tag.
And it is.
This classic Cabbagetown Victorian is a historic home without a history.
It
The maker of BlackBerry smartphones says the problems that have plagued users worldwide were caused by a core switch failure within the company’s infrastructure.
Research in Motion Ltd. says that a transition to a back-up switch did not function as tested, causing a large backlog of data.
In an update Tuesday, it said it is now working to clear the backlog and restore normal service as soon as possible.
Large numbers of BlackBerry users in Europe, the Middle East, Africa, India, Brazil, Chile and Argentina are experiencing problems for a second day, with many unable to access email and messaging services.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
LONDON (AP) _ BlackBerry’s woes spread on Tuesday as the smartphone’s maker reported service disruptions for a second straight day in Europe, the Middle East and Africa and fresh problems in Latin America and India.
Research in Motion Ltd., which makes BlackBerry devices, acknowledged there were ongoing problems Tuesday, hours after it said services were operating normally and the cause of delays in subscriber services a day earlier had been resolved.
“Some users in Europe, the Middle East and Africa, India, Brazil, Chile, and Argentina are experiencing messaging and browsing delays,” the company said in a statement, adding that it is “working to restore normal service as quickly as possible payday loans.”
Research in Motion Ltd. also apologized for “any inconvenience,” as Twitter and the Internet lit up with condemnation over a delayed response to problems some users had reported for hours.
In Britain, Vodafone UK told customers via Twitter that service was not fully restored. Rival T-Mobile UK blamed “a European-wide outage on the BlackBerry network” which it said was affecting all mobile operators. There were also reports of problems elsewhere in Europe, such as Spain.
In addition, the disruptions were experienced in the Middle East and Africa.
Etisalat, which operates in the United Arab Emirates, apologized for “the further interruption” to Blackberry services, “once again due to RIM problems.”
And Kenya’s Safaricom Ltd. said on Twitter that its Blackberry customers were experiencing a “technical fault,” while South Africa’s Vodacom told subscribers the issues were affecting multiple networks and countries.
There were no reports of any problems in the U.S.
Angry smartphone users took to Twitter to vent frustration with the company and bemoaned the loss of their messaging capabilities, questioning why the company took so long to restore services.
The Federal Deposit Insurance Corp. seized Sun Security Bank in Ellington, Mo., after the troubled bank was shut down by Missouri bank regulators.
Sun Security has 27 branches, including two in St. Charles County. The bank held $355.9 million in assets and $290.4 million in deposits.
In a deal with the FDIC, Great Southern Bank of Springfield, Mo., has agreed to assume all the deposits of Sun Security.
The federal regulator said all Sun Security branches will open on Saturday, and after Columbus Day, the offices will become Great Southern branches. Columbus Day is a bank holiday.
Customers with questions about the seizure can call the FDIC at 1-866-806-6128 Payday Loan for Bad Credit.
The failure of Sun Security Bank is expected to cost the FDIC $118.3 million.
Sun Security, which has two branches in St. Charles County, was formerly led by Shaun Hayes as chief executive.
The FDIC’s seizure Friday of Sun Security and Wyoming, Minn.-based Riverbank increases to 76 the number of U.S. bank failures this year.
Pancreatic cancer is notoriously lethal _ there are almost as many deaths from it each year as there are new cases. The deaths this week of Apple founder Steve Jobs and Nobelist Ralph Steinman bring unusual attention to this less-well-known type of cancer that has actually been declining despite no big advances in treatment or finding it early.
A decline in smoking, one of the top risk factors for the disease, may be behind the drop in cases.
Jobs lived more than seven years after being diagnosed with a neuroendocrine tumor _ a less common, slower-growing and more treatable type of pancreatic cancer than the kind that killed Steinman a week ago and actor Patrick Swayze two years ago.
The Apple chief kept details of his illness behind a firewall and declared he was cured after cancer surgery in 2004. However, five years later, gaunt and having lost a lot of weight, Jobs had a liver transplant. Experts said it was likely because his cancer had returned or spread.
A liver transplant sometimes can cure the type of cancer that Jobs had. But if it comes back, “it’s usually in one to two years,” said Dr. Michael Pishvaian of Georgetown University’s Lombardi Comprehensive Cancer Center.
In January, Jobs announced his third and final leave of absence. He resigned in August and died on Wednesday.
Part of what makes pancreatic cancer so deadly is that the pancreas is as vital as the heart. You can live with just part of a liver or a colon, or only one kidney or lung. But the pancreas is a fish-shaped organ that makes digestive enzymes and insulin and other hormones that enable the body to make energy from food.
In the United States, pancreatic cancer is the fourth leading cause of cancer deaths. About 44,030 people will be diagnosed with it and about 37,660 people will die of it this year in the U.S., the American Cancer Society estimates.
Possible symptoms are fatigue, back pain, abdominal pain, unexplained weight loss, loss of appetite, jaundice and nausea, according to the Lustgarten Foundation, a private group that finances research on the disease.
This cancer often is not found until it is advanced or has spread, and overall survival is dismal: 20 percent after one year and only 4 percent after five years.
However, with a neuroendocrine tumor like the one Jobs had, “people can live a longer time; median survival is five to eight years,” said Dr. Alan Venook, a pancreatic cancer specialist at the University of California, San Francisco.
The lifetime risk of developing pancreatic cancer is about 1 in 71, according to the cancer society. Men and blacks account for more cases than women and whites, possibly because of differences in smoking rates unsecured personal loans. Smokers have two to three times more risk of developing the disease. Use of smokeless tobacco also raises the risk.
Obese people, those who don’t exercise much and diabetics also have more risk for pancreatic cancer. Alcohol use might play a role: Most studies haven’t tied it to pancreatic cancer, but heavy drinking can lead to diabetes and liver and pancreas problems that pose a cancer risk, the cancer society says.
The best hope for a patient is that the tumor is operable. That was the case in February 2009, when U.S. Supreme Court Justice Ruth Bader Ginsburg had a small, early-stage pancreatic tumor removed at New York’s Memorial Sloan-Kettering Cancer Center.
On the horizon are immune system treatments _ research that Steinman, the Nobel recipient from Rockefeller University in New York, was studying in the lab and trying on his own pancreatic cancer.
The immune system has a hard time recognizing and fighting cancer because the enemy is not an invading germ but our own cells gone rogue. Treatments called therapeutic cancer vaccines are ways to modify cells to help the immune system recognize the risk.
One such vaccine by NewLink Genetics, a small biotech firm in Ames, Iowa, is in late-stage testing now for pancreatic cancer. The company website says the larger study was initiated after a mid-stage test suggested improvement in survival.
Dr. Roderich Schwarz, chief of surgical oncology at the University of Texas Southwestern Medical Center in Dallas, has enrolled a few patients in some immune therapy studies, which have not paid off in the past.
“Vaccines are coming along,” and last year’s approval of one for advanced prostate cancer suggests researchers may be learning to overcome some of the drawbacks of the past, he said.
“It’s quite possible that vaccines will claim their territory in the treatment of these challenging tumors,” Schwarz said. “It’s still in the development stage rather than the proven stage.”
___
Online:
Cancer Institute: http://www.cancer.gov/cancertopics/types/pancreatic
Cancer Society: http://www.cancer.org/Cancer/PancreaticCancer/index
Survival rates: http://bit.ly/oAxKl5
Research and support: http://www.curePC.org and http://www.lustgarten.org
Vaccine study: http://www.linkp.com/products/hyperacute-pancreas.html
The Standard & Poor’s 500 index fell 1.6 percent early Tuesday, bringing it into what many consider to be a bear market. The yield on the 10-year Treasury note fell near a record low as investors piled into lower-risk assets.
Stocks fell broadly as investors worried that Greece might be edging closer to default, which would cause heavy losses for banks that hold Greek debt and rattle global financial markets. Greece has said it wouldn’t be able to make budget cuts it had agreed to as part of a deal to receive emergency loans.
The S&P 500 fell 20 points, or 1.8 percent, to 1,079 as of 10:15 a.m. That brought the widely used index 21 percent below its April 29 high of 1,363, meeting the criteria of a bear market.
The Dow Jones industrial average lost 207, or 1.9 percent, to 10,448.The Dow is 18 percent below its recent peak, just shy of the 20 percent decline market watchers consider to be a bear market.
The Nasdaq composite dropped 28, or 1.2 percent, to 2,307.
Bank of America fell 3.9 percent, the most of the 30 stocks that make up the Dow average. American Express Co. and General Electric Co. each lost 3 percent.
The yield on the 10-year Treasury fell to 1.72 percent, just above its record low of 1.71 percent reached on Sept. 22. Bond yields fall as prices rise.
In testimony before Congress, Federal Reserve Chairman Ben Bernanke said the economy is weaker than the central bank expected and that poor job growth continues to undercut consumer confidence. He warned Congress that deep spending cuts may impede a recovery.
In corporate news, Apple Inc. is widely expected to announce the newest version of its iPhone Tuesday. Tim Cook, who took over the company’s CEO role from co-founder Steve Jobs in August, is expected to unveil the new smartphone at Apple’s Cupertino headquarters. The company lost 0.6 percent in early trading.
Bank of America Corp. lost 7 percent to $5.15 as investors continued to be troubled by its exposure to soured mortgages securities and a several-day outage of its website. The company’s stock lost 9 percent Monday to $5.53, a level not seen since 2009.
European indexes also declined sharply. Benchmark indexes in Germany, France, and Spain each lost more than 3 percent.
Two children and their parents were killed by machine-gun fire Saturday while trying to flee Moammar Gadhafi’s hometown along with hundreds of other residents, as forces loyal to the ousted regime engaged in heavy clashes with revolutionary fighters surrounding the city.
Their bodies were brought to a makeshift hospital outside Sirte, said a doctor there, Nuri Naari. They were hit by machine-gun fire as they drove toward the positions of revolutionary forces on the edges of the city, he said. It was unclear who killed them.
Sirte is one of the last cities to remain in loyalist hands. After months of stalemate in Libya’s civil war, anti-Gadhafi forces swept into the capital in August and their leaders set up a transitional government. But the continued fighting in holdout cities and the failure to find and capture Gadhafi has kept Libya’s new leaders from being able to declare victory.
Revolutionary forces had given families inside Sirte two days to leave the city starting Friday, said Mustafa Abdul-Jalil, head of the National Transitional Council that now runs the country. They tried to keep a safe corridor open for civilians fleeing the coastal city.
“This period will give a chance for families to leave the areas of fighting,” he said at a press conference Saturday.
Hundreds of cars carrying Sirte residents formed long lines at revolutionary forces’ checkpoints leading out of the city, calmly waiting to be checked by the fighters as explosions echoed in the distance.
After weeks of fighting Gadhafi’s loyalists inside Sirte, the fighters now hold positions about three miles (five kilometers) from the city center, said commander Mustafa al-Rubaie.
Last week, the Libyan Defense Ministry announced that Sirte’s port, airport and military base were all under their control.
Al-Rubaie told The Associated Press that fighters from the east seized control of Sirte’s first residential district and a hotel where Gadhafi’s snipers were based.
“There is heavy fighting going on in the streets of Sirte right now,” he said. “The enemy is besieged from the south, east and west but it’s still in possession of highly sophisticated weapons and a large amount of ammunition.”
Al-Rubaie said Gadhafi forces were also in control of strategic positions inside the city, including high-rise buildings where snipers are positioned, making the revolutionary forces’ advance slow and hard.
“The plan is that the eastern and western forces will meet in the middle of Sirte,” al-Rubaie said. “When we reach this point, we will celebrate the liberation of Sirte.”
Fighters on the western approaches to the city fired rockets and tank fire at loyalists’ positions, while NATO aircraft were heard circling overhead.
Gadhafi’s spokesman Moussa Ibrahim, meanwhile, denied reports that he had been captured, telling the Syrian-based TV station Al-Rai that he was traveling with 23 fighters in Sirte. There was no way to verify the identity of the man speaking in the audio recording, but it sounded like his voice and the TV station has become the mouthpiece for Gadhafi’s resistance.
Many of those fleeing Sirte said conditions in the city continue to deteriorate, with food in short supply and no water or electricity.
“We couldn’t leave our homes because of the shelling; we had to leave the city,” said Ahmed Hussein as his wife, mother-in-law and two children watched the fighters search their car.
Cars, buses and trucks loaded with families and heaped with household goods lined up at the first checkpoint about half a mile (kilometer) from the front lines. Volunteers gave the families food and water while fighters checked documents and cars.
A small contingent from the humanitarian group Doctors Without Borders attempted to enter Sirte on Saturday to deliver medical supplies but turned back because of heavy shelling and no guarantees that the Gadhafi loyalist would hold their fire.
In between the bouts of shooting, Libyan fighters prayed.
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