Friday, July 15, 2016

'ABSOLUTE HORROR': Dozens killed after truck plows into crowd in Nice, France

'ABSOLUTE HORROR': Dozens killed after truck plows into crowd in Nice, France

Bodies are seen on the ground July 15, 2016 after at least 30 people were killed in Nice, France, when a truck ran into a crowd celebrating the Bastille Day national holiday July 14.Bodies seen Friday after at least 80 people were killed in Nice, France, on Thursday night when a truck ran into a crowd celebrating the Bastille Day national holiday. Reuters
  • At least 84 dead after driver plows truck through Bastille Day revelers in southern French city of Nice.
  • More than 100 injured.
  • Truck driver was shot dead by the police.
  • French President François Hollande called the attack "an absolute horror."
  • State of emergency in France to be extended for another three months.
At least 84 people, including at least 10 children, were killed in the southern French city of Nice when a man drove a truck into a crowd celebrating the Bastille Day national holiday on Thursday night, according to the French interior ministry.
A least 50 people are still in extremely serious condition, and 54 children have been admitted to the children's hospital Lenval since Thursday night, according to the French newspaper Nice-Matin.
The truck's driver opened fire on the crowd with a 7.65 mm pistol before accelerating and ramming the explosives-loaded truck into nearby pedestrians, officials said.
The driver was shot and killed by the French police. Authorities identified him as a 31-year-old Franco-Tunisian resident of Nice named Mohamed Lahouaiej Bouhlel. Bouhlel's identification papers along with another ID card were found in the truck.
Bouhlel, a father of three, was known to the police for non-terrorism-related infractions and was not under police surveillance.
A bomb squad blew suspicious package near a rental truck parked outside an apartment building where Bouhlel lived. Two buildings have been evacuated.
Bouhlel was alone in the refrigerated truck used to carry out the attack, which had reportedly been rented a few days ago in Saint-Laurent-du-Var, a town about 10 kilometers, or 6 miles, from Nice, according to the French newspaper Le Figaro.
Dozens of bodies covered in blue sheets still lined the pavement next to the Promenade des Anglais on Friday morning as the police continued their work, a journalist for Le Figaro said.
A man reacts as he sits near a French flag along the beachfront the day after a truck ran into a crowd at high speed killing scores celebrating the Bastille Day July 14 national holiday on the Promenade des Anglais in Nice, France, July 15, 2016.A man near a French flag along the beachfront the day after the truck attack in Nice. REUTERS/Eric Gaillard
French President François Hollande called the attack "an absolute horror" and said he would request that the state of emergency in France — which was due to end on July 26 — be extended for another three months.
Hollande also announced a special plan to call on to reserves of the police forces — those who have left the police forces in the past five years — to help with the protection of the French people. He said they would mostly be used to help police the country's borders.
The attacker's motive was unclear, though Hollande said the terrorist nature of the attack "cannot be denied."
"France has been hit on its national day," he continued, adding "our national symbol, because human rights are linked and attacked by fanatics."
Hollande added that France would "reinforce" its actions in Iraq and Syria in response to the violence, saying, "We will continue striking those who attack us on our own soil." The president held an emergency defence council at the Elysée on Friday morning.



View image on TwitterView image on Twitter

Le Conseil restreint de sécurité et de défense est en cours autour de @fhollande après le terrible attentat de 
French Prime Minister Manuel Valls called the attack "cowardly and inhuman" and said France was faced with a war against terrorism, but he vowed that the country would not be destabilised.
"France has once again been hit in its flesh ... it was an attempt to reach French unity," he said.
"Terrorism weighs heavily on France and will do so for a long time," Valls added, saying that the only appropriate answer would be a united France.
A three-day national mourning period has been announced for Saturday, Sunday, and Monday.
Hollande and Valls arrived in Nice at about noon on Friday.
The attack appeared to be the third major act of terrorism in France since January 2015, when 12 people were killed in a shooting at the satirical magazine Charlie Hebdo's offices. Islamic State militants killed 130 people in a slew of shootings and bombings in Paris in November.
On Sunday, France had breathed a sigh of relief as the monthlong Euro 2016 soccer tournament ended without a feared attack.
But at about 10:30 p.m. local time on Thursday, the truck plowed into a crowd of spectators who had gathered to watch fireworks on the Promenade des Anglais seaside walk in the center of town. The attacker continued driving for more than a mile, the ranking politician of Alpes-Maritime Department told reporters.
A body is seen on the ground July 15, 2016 after at least 30 people were killed in Nice, France, when a truck ran into a crowd celebrating the Bastille Day national holiday July 14.More than 80 people were killed in the attack in Nice. REUTERS/Eric Gaillard
The truck seemed to be driving at about "25 to 30" miles per hour, a witness told CNN. The street had been closed off and reserved for pedestrians when the truck drove through the crowd.
"He was 5 meters from me. I ran toward a safe place at Le Cocodil," Damien Allemand, a correspondent with the regional newspaper Nice-Matin, told BuzzFeed. "I went out after to see what happened. Nobody was moving anymore. In two minutes, the promenade became like a desert."
He said: "I went to the scene and it was ... I don't have words. There was blood everywhere, a guy cut in half."
niceFrench police forces and forensic officers seen Friday next to the truck used in the attack. Reuters
An eyewitness told CNN's Jim Sciutto that the truck driver "mowed bodies over" and "accelerated as he hit them."
"All of a sudden, thousands of people just started running in one direction," another witness told CNN's Anderson Cooper. "I had no idea what was going on — we couldn't hear anything but screaming and crying ... no one knew what was going on, we all just knew we had to run for our lives."
Another witness said: "The sounds were really horrific. You could hear banging sounds as the truck drove over people."
"It was absolute chaos," an AFP correspondent reported. "We saw people hit and bits of debris flying around. I had to protect my face from flying debris."
US President Barack Obama, in a statement late Thursday, condemned the attack and said the US stood ready to aid France in responding and recovering.
niceReuters
"On behalf of the American people, I condemn in the strongest terms what appears to be a horrific terrorist attack in Nice, France, which killed and wounded dozens of innocent civilians," Obama said in the statement.
"We stand in solidarity and partnership with France, our oldest ally, as they respond to and recover from this attack," the statement continued. "On this Bastille Day, we are reminded of the extraordinary resilience and democratic values that have made France an inspiration to the entire world."
German Chancellor Angela Merkel said the German people stood in solidarity with France.
UK Prime Minister Theresa May said that she was "shocked and saddened by this horrifying attack" and that the government was working to establish whether British nationals were caught up in the attack.
"Our hearts go out to the French people and all those who have lost loved ones or been injured ... These were innocent victims enjoying a national celebration with their friends and families," May said.
UK Foreign Secretary Boris Johnson tweeted that he was "shocked and saddened by the appalling events in Nice, and the terrible loss of life." He also announced that a British national was injured during the attack.
Mayor Sadiq Khan of London said that the British capital stood "shoulder-to-shoulder" with France and that the "poisonous and evil" terrorists would be defeated.
He also added that he would review security measures in London: "I will reassure all Londoners that today we will be reviewing our own safety measures in light of this attack and that I and the Metropolitan Police commissioner will do everything possible to keep Londoners safe."
nicePeople crossing the street as a French soldier secured the area on Friday. Jean-Pierre Amet/Reuters
House Speaker Paul Ryan said on Twitter that, "Our hearts are with the victims of what appears to be yet another unconscionable act of terror."
The attack also provoked reaction from the American presidential candidates Donald Trump and Hillary Clinton.
Trump canceled a planned Friday unveiling of his vice-presidential pick while attacking Clinton's "stupid policies." Clinton said the attack further reinforced that the US and its allies were at war with "radical jihadists."

The video below appears to show people fleeing the scene in panic:

Another video shows police officers chasing the truck as it speeds up along the promenade:




Can see the truck speeding up, being shot at by police in this video going around. 
The German police have announced that they will beef up their controls at the French border.
"In coordination with the French security authorities the federal police are strengthening their control in the area of cross-border traffic into France," the police said in a statement.
This story is being updated with new details as they emerge.
Reuters, Natasha Bertrand, Bryan Logan, Peter Jacobs, and Barbara Tasch contributed reporting.

Thursday, July 14, 2016

'Pokémon Go' is already almost as big as Snapchat and Google Maps

'Pokémon Go' is already almost as big as Snapchat and Google Maps

ash ketchum pokemon pikachu goNintendo
"Pokémon Go" is huge.
The augmented reality smartphone game has been a wild success, netting tens of millions of downloads in the space of a week, and sending Nintendo's stock skyrocketing.
But just how big is it?
By one metric, the app is already almost as big as Snapchat and Google Maps.
SurveyMonkey Intelligence estimates that the smash hit game has more than 11 million daily active users in the United States on Android. That's already far more than Twitter — which has just under 6 million — and if it continues at its current growth rate, it looks certain to overtake Snapchat and Google Maps within a week.
This doesn't mean more people have "Pokémon Go" installed than Twitter/Snapchat/Google Maps — that's not the case. But its users are far more engaged, using the app far more frequently than the others. Tens of millions of people in the US will have Google Maps installed, but they will only rarely open it.
This is pretty crazy: In a blog post, SurveyMonkey points out that, "as unbelievable as it sounds, Pokémon GO Android could surpass Google Maps itself as the largest user of Alphabet’s mapping data."
SimilarWeb, which did a similar analysis to SurveyMonkey a few days ago, estimated that more than 60% of people with "Pokémon Go" installed are using it on a daily basis.
(A note: Google doesn't break out this kind of data itself, so we're forced to rely on third-party estimates, which will never be perfectly accurate. All "Pokémon Go's" Android download pagesays is that it has been installed between 10 million and 50 million times worldwide. Additionally, this data refers only to Android users in the US. The game is only officially available in America and a few other countries, so global comparisons would not be meaningful.)
This wild hype may well drop off over time. The game is hugely popular, but it's not clear whether Niantic, its developer, can build it into a sustainable business — or if it will just be a passing fad.
But right now, its popularity cannot be overstated. According to a separate analysis from SensorTower, people are spending more time in the "Pokémon Go" app on a daily basis than just about any other app — including Facebook, Snapchat, Twitter, and Instagram.
pokemon go usage comparison sensortowerSensorTower

Yum Brands jumps after beating on earnings and raising guidance

Yum Brands jumps after beating on earnings and raising guidance

kfc yum brands chinaREUTERS/Wilson Chu
Yum Brands reported second-quarter earnings that topped forecasts and raised its expectation for full-year profits after the market close on Wednesday.
Yum Brands reported $0.75 in adjusted earnings per share ($0.74 estimated, according to Bloomberg), on revenues of $3.01 billion ($3.09 billion estimated).
It boosted its guidance for core operating profit growth guidance to at least 14%, from 12%.
The company's shares rose by as much as 4% in pre-market trading.
"Challenging industry conditions" outside the US softened overall sales at KFC, Taco Bell, and Pizza Hut — the restaurants it operates — according to the earnings statement.
Comparable-store sales — at locations open for at least one year — were flat in China, just as analysts had forecast.
Analysts were again focusing on how the restaurants performed in China, where sales slowed recently. As much as half of Yum Brands' sales were earned from China in the second quarter.
KFC China comparable-store sales rose 3%, matching the median estimate on Bloomberg.
"I'm particularly pleased with the continued sales momentum at KFC China, which delivered better-than-expected same-store sales growth," said CEO Greg Creed in the earnings statement. "Importantly, our China Division is off to a good start in the third quarter for both KFC and Pizza Hut Casual Dining, including a return to positive same-store sales at Pizza Hut Casual Dining in recent weeks."
Bloomberg Intelligence analysts noted that the second quarter is usually the toughest of the year in China, as some sales are lost to the first quarter because of the Chinese New Year.
The company last year announced it was splitting into two public entities: Yum China would become a franchise in mainland China, with exclusive rights to KFC, Pizza Hut and Taco Bell; and Yum Brands would expand the three franchises around the world.
The company expects the split to be completed by the end of October.
Yum Brands shares had rallied about 17% this year through the market close on Wednesday.

AUSTRALIAN ECONOMY ADDS 7.9K JOBS IN JUNE, HUGE INCREASE IN FULL-TIME EMPLOYMENT

AUSTRALIAN ECONOMY ADDS 7.9K JOBS IN JUNE, HUGE INCREASE IN FULL-TIME EMPLOYMENT

Photo: Getty Images
Australia’s jobs report for June has just been released, and it’s largely in line with expectations.
According to the Australian Bureau of Statistics (ABS), employment grew by 7,900 in seasonally adjusted terms, slightly missing expectations for a gain of 10,000.
The increase took the total number of employed to 11.94 million, the highest level on record. Over the past year employment grew by 1.9%.
While a slightly disappointing headline result, it was more than offset by the internals of the report with full time employment surging by 38,400, largely offsetting a 30,500 drop in part time employment.
Male full time employment, after several years of tepid growth, jumped by 27,300. This was further bolstered by an increase of 11,100 in female full time employment growth.
Those trends were reversed in part time employment with males accounting for the vast bulk of the monthly decline reported, falling by 28,000.
By state and territory, Victoria and South Australia recorded the strongest jobs growth during the month, rising by 24,200 and 4,600 respectively. This was partially offset by declines of 11,900, 10,300 and 1,400 respectively in New South Wales, Western Australia and Queensland.
The lumpiness of the employment change across the country, along with the split in full time and part time employment, will do little to bolster confidence in the reliability of the seasonally adjusted figures.
Indeed, despite the surge in full time employment growth, the number of hours worked fell by 4.3 million hours to 1,640 million hours.
The small gain in employment, along with an increase in labour market participation which rose 0.1 percentage point to 64.9%, saw the national unemployment rate tick up to 5.8%. This was in line with expectations but above the 5.7% level of May.
In absolute terms, the number of unemployed now stands at 734,200, down 3.1% on the levels of a year ago.
Across the states, New South Wales recorded the lowest unemployment rate across the country at 5.3%, although this was higher than the 5.1% rate of May.
In order of lowest to highest, New South Wales was followed by Western Australia and Victoria at 5.7%, Queensland at 6.5%, Tasmania at 6.6% and South Australia with 7.0%.
The ACT and Northern Territory recorded unemployment rates of 3.6% and 3.7% in trend terms.
The table below, supplied by the ABS, reveals the breakdown of unemployment levels across the country.
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JPMorgan BEATS

JPMorgan BEATS

Jamie DimonJPMorgan CEO Jamie Dimon.REUTERS/Dylan Martinez
JPMorgan Chase  $64.44
JPM+/-+1.31%+2.10
Disclaimer
JPMorgan just reported second-quarter earnings that beat on the top and bottom lines.
The firm reported adjusted earnings per share of $1.46 on revenue of $25.20 billion.
Analysts were expecting adjusted earnings of $1.43 a share on revenue of $24.50 billion, according to Bloomberg.
"Throughout the recent uncertainty and turbulence in the markets, we continued to be there for our clients — solid and steadfast to meet their needs, execute their transactions and provide liquidity," CEO Jamie Dimon said in a statement.
The firm beat expectations on both trading and investment-banking revenues.
Here's the breakdown:
  • Trading revenues of $5.6 billion (versus $5.16 billion expected) were up 23% year-over-year.
  • Fixed-income trading revenue came in at $3.96 billion ($3.57 billion expected), up 35% year-over-year, which the firm said was driven by higher revenues in rates, currencies and emerging markets, credit, and securitized products.
  • Equity markets revenues of $1.60 billion ($1.59 billion expected) were up 2% year-over-year.
  • Investment-banking revenue came in at $1.5 billion ($1.49 billion expected), down 15% year-over-year. That was largely driven by lower equity underwriting fees, according to the firm.
In the same quarter last year, JPMorgan reported earnings of $1.54 a share on revenue of $24.3 billion.
In the first quarter, JPMorgan reported earnings of $1.35 a share on revenue of $24.08 billion.
The big story during the second quarter was the UK's decision in June to leave the European Union, which sent shockwaves through markets and could deter central banks from raising interest rates anytime soon.
In the short term, that could be good news for banks' trading revenues, but the long-term impacts are less rosy. Bank profitability is based largely on the rate at which the bank makes loans. Lower global interest rates, in turn, negatively affect banks' bottom lines.
JPMorgan on Tuesday announced that it would raise minimum pay for some 18,000 US employees.
Citigroup and Wells Fargo are set to report second-quarter earnings on Friday, followed byBank of America Merrill Lynch on Monday, Goldman Sachs on Tuesday, and Morgan Stanley on Wednesday.

BANK OF ENGLAND HOLDS FOR AN 88TH STRAIGHT MONTH

BANK OF ENGLAND HOLDS FOR AN 88TH STRAIGHT MONTH

The governor of the Bank of England Mark Carney gives a press conference, his first since the leave result of the European Union referendum, at the Bank of England in the City of London, Britain Thursday, June 30, 2016.Bank of England Governor Mark Carney. REUTERS/Matt Dunham/Pool
The Bank of England just voted to leave interest rates unchanged for an 88th consecutive month, shocking the markets, which had broadly been preparing for a cut to the Bank's base rate.
At the Old Lady of Threadneedle Street's first Monetary Policy Committee meeting since Britain voted to leave the European Union, governor Mark Carney and seven other members of the committee decided that taking Britain's interest rate closer to zero is not yet the best course of action to mitigate the economic risks posed by the UK's Brexit decision.
The Monetary Policy Committee voted 8-1 in favour of leaving interest rates unchanged, with only notoriously dovish Gertjan Vlieghe voting for a cut of 25 basis points.
Britain's central bank pretty much announced that it will now cut rates at the next MPC meeting in early August, saying that "most members of the Committee expect monetary policy to be loosened."
Here is the key extract from the minutes of the MPC meeting, which took place on Wednesday afternoon:
"Committee members made initial assessments of the impact of the vote to leave the European Union on demand, supply and the exchange rate. In the absence of a further worsening in the trade-off between supporting growth and returning inflation to target on a sustainable basis, most members of the Committee expect monetary policy to be loosened in August. The precise size and nature of any stimulatory measures will be determined during the August forecast and Inflation Report round."
The BoE's lack of action on rates is a surprise, as such a move had been widely expected in the markets, with a survey in the Financial Times on Monday suggesting that markets had "already priced in a 75% chance of interest rates being cut from 0.5% to 0.25% this week."
The key reasoning behind the lack of action from the bank is that there is simply not enough concrete data from the post-referendum period to show exactly how economic activity has been affected by the Brexit vote, and as such the BoE is not yet ready to make an interest rate cut.
Commenting on the decision, Augustin Eden of Accendo Markets said that it is "perfectly understandable" for rates to stay where they were, arguing: "Mark Carney is not at home to the smell of napalm in the morning, and given the indiscriminate nature of the weapon, today’s announcement by the Bank of England is perfectly understandable. After all, there’s been precious little time and even less UK economic data since the Brexit vote, so how could anyone possibly gauge its effect on the economy to the extent that one could make a reactionary decision on monetary policy right now?"
While they did not cut rates or announce new QE, Carney and the rest of the MPC did, however, say that the UK's economy already looks to be taking a massive hit from the vote, with the housing market a particular concern.  Here is more from the minutes (emphasis ours):
Official data on economic activity covering the period since the referendum are not yet available. However, there are preliminary signs that the result has affected sentiment among households and companies, with sharp falls in some measures of business and consumer confidence. Early indications from surveys and from contacts of the Bank’s Agents suggest that some businesses are beginning to delay investment projects and postpone recruitment decisions. Regarding the housing market, survey data point to a significant weakening in expected activity. Taken together, these indicators suggest economic activity is likely to weaken in the near term.
Britain's interest rates have stayed at a historic low of 0.5% since March 2009 and before Britain voted to leave the European Union on June 23, the BoE was priming itself to eventually start raising rates again. But given the economic shock of Brexit — which sent the pound crashing and brought about widespread predictions of recession — the Bank is expected to cut rates sooner or later.
It should now be expected that Carney and the rest of the MPC will decide to make that cut at its August meeting in just three weeks time. That meeting coincides with the release of the Bank's quarterly inflation report and a press conference from governor Carney, when he will be able to elucidate the reasons behind any monetary policy decisions. In the BoE's release on Thursday, the Bank noted: "The MPC is committed to taking whatever action is needed to support growth and to return inflation to the target over an appropriate horizon. To that end, most members of the Committee expect monetary policy to be loosened in August."
With several forecasts, including those from Credit Suisse and Barclays, suggesting that Britain is plunging towards recession, a rate cut is thought to be inevitable sooner or later, and there now appears to be an exact date in the diary.
While the move has come as something of a shock to the markets, it is not totally unexpected. In a survey of the views of 13 economic research houses, banks, and trading firms, six of those asked by Business Insider expected no action in terms of a rate cut on Thursday.
The basic argument behind markets believing that a rate cut was that it would have, in theory at least, helped stimulate economic growth by encouraging people to borrow and invest, which in turn will help to spur inflation.
Along with the rates decision, the MPC also voted to keep the Bank's Asset Purchase Facility unchanged at £375 billion.
As a result of the vote, the pound took off, gaining as much as 2% in the immediate aftermath of the release. Here is how that looked:

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