Tag Archives: Loss

Dayton, Ohio shooting: City 'seconds away from catastrophic loss of life' as gunman named as Connor Betts

Dayton, Ohio shooting: City 'seconds away from catastrophic loss of life' as gunman named as Connor BettsDayton, Ohio was seconds away from a “catastrophic loss of life”, the city’s police chief said. Nine people were killed and 27 injured by Connor Betts, 24, who opened fire on revellers as they were leaving bars in the Oregon district of the city. Among those who died was his sister, Megan, 22.  Graphic video footage released by police showed people running for safety as Betts unleashed a volley of bullets. Many rushed back into the bars they had just left, for safety. Tianycia Leonard, 28, was in the back, smoking, at Newcom's. She heard "loud thumps" that she initially thought was someone pounding on a skip. Alleged Ohio terrorist Connor Betts, 24 Credit: CBS News "It was so noisy, but then you could tell it was gunshots and there was a lot of rounds," she said. The footage showed Betts, who was wearing a bullet-proof vest and was armed with .233 rifle and 100 round drum magazines, trying to get into Ned Peppers bar. He was shot dead by police within 30 seconds of their being alerted to the threat. Shoes are piled outside the scene of a mass shooting including Ned Peppers bar Credit:  John Minchillo “Had that individual made it through the doorway of Ned Peppers with that level of weaponry there would have been a catastrophic loss of life,” said Dayton’s police chief, Richard Biehl. President Donald Trump, paid tribute to police for their swift action. “As bad as it was, it could have been so much worse.” Of the nine people who were killed, six were black, the others were white. Police declined to speculate on what drove Betts, whose only encounter with police had been for minor motoring offences, to embark on a deadly shooting spree. Rob Portman, a Republican senator, paid tribute to the police.  "Their courage was extraordinary. They saved lives, probably hundreds of lives, given the situation," he said. "We all saw workers in Hazmat suits who were having to clear away blood off the sidewalk from the tragedy last night." Mr Portman added: "How could someone point a gun at someone he had never seen or known and pull the trigger."



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Venezuela Faces the Loss of Citgo — and Desperately Needed Dollars

Venezuela Faces the Loss of Citgo -- and Desperately Needed Dollars(Bloomberg) — Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.A U.S. appeals court ruled on Monday that Crystallex International Corp. may seize U.S.-based stock of Citgo’s parent, which is part of Venezuela’s state-owned oil company, to cover a $ 1.4 billion award over the nationalization of gold fields.Unless reversed on appeal or blocked by the Trump administration, the decision would allow Crystallex to auction the shares to satisfy Venezuela’s unpaid debt to the Canadian company. That means the country, in the grip of its worst recession, could lose control of the refiner that processes Venezuelan crude into desperately needed hard currency.It also complicates efforts by interim President Juan Guaido to retain control of Venezuelan assets including Citgo while waging a power struggle with current leader Nicolas Maduro for leadership of the country. Guaido has asked U.S. President Donald Trump to bar creditors from seizing the country’s assets.Read More: Venezuela Must Pay $ 1.4 Billion in PDVH Stock to Crystallex“At this stage, the only action that could stop Venezuela from losing Citgo is either a successful U.S. Supreme Court appeal, which appears unlikely, or a decision by Trump to issue an asset-protection order as Guaido has been requesting,” Francisco Rodriguez, chief economist for Torino Capital, said in an interview.“The UN can also help,” added lawmaker Rafael Guzman, part of the opposition-led National Assembly’s finance committee. “We are going to push for all of them.”Guaido and Maduro are battling for control of Citgo by naming conflicting board nominees for its owner, Petroleos de Venezuela SA, or PDVSA. A state-court judge in Delaware will decide who has legal right to appoint directors for the state-run oil company, which owns Citgo.Guaido himself didn’t immediately return calls for comment on the appeals court’s ruling, nor did Jose Ignacio Hernandez, Guaido’s special attorney general, who was appointed to oversee litigation worldwide. Officials of Maduro’s Information Ministry didn’t return calls for comment, either.Read More: Venezuela Told to Give Shares of Citgo Parent to Gold Miner“For too long Venezuela has refused to compensate Crystallex for its illegal seizure of Crystallex’s assets,” Bob Fung, Crystallex’s CEO, said in an emailed statement. He added the court’s ruling was a “crucial step in getting Venezuela finally to honor its legal obligations.”Venezuela’s crisis follows years of Maduro’s and ex-leader Hugo Chavez’s socialist economic policies and the collapse in the country’s all-important oil industry. Venezuelan officials are scrambling to keep their hands on Citgo to rebuild the economy.Guaido, head of the country’s National Assembly, and Maduro, who has the support of the Venezuelan Army, have held talks in Oslo, Norway, seeking to resolve the crisis. The latest round of negotiations were scheduled to take place earlier this month in Barbados.Crystallex’s gold mining operations near Las Cristinas, Venezuela, were seized without compensation in 2011 when Chavez nationalized the country’s gold-mining industry. The company pursued arbitration and won a $ 1.2 billion award plus interest in 2016.Last year, Venezuela officials handed over $ 425 million as partial payment of the arbitration award, but the company couldn’t cut a deal to satisfy the rest of the debt. So Crystallex pushed ahead with efforts to seize shares of Citgo’s parent.Crystallex officials waged a three-year battle to seize shares of PDV Holding Inc., which owns Citgo. PDVSA owns the holding company. A federal judge in Delaware concluded last year that since Venezuela controls PDVSA, shares of Citgo’s parent were fair game to be seized for the debt.The Philadelphia-based appeals court upheld the trial judge’s finding that PDVSA is Venezuela’s alter ego in part because its run by the country’s military and all profits flow to the country’s coffers.|“It has the potential to be a big blow to Venezuela,” Russ Dallen, managing partner of Caracas Capital, said in an interview. “The pool of creditors that can now attack and go after PDVSA is greatly expanded.”Crystallex isn’t the only company that has sued Venezuela over unpaid debts. Investors have sued over $ 65 billion in defaulted bonds while rival ConocoPhillips sued Venezuela over seizure of its oil assets in the country. The U.S. oil giant won a $ 2 billion arbitration award over the nationalized assets. Last year, ConocoPhillips executives got $ 345 million in cash and commodities in settlement after the U.S. company seized some PDVSA assets in the Caribbean.The case is Crystallex International Corp. v. Bolivarian Republic of Venezuela, No. 18-2797, U.S. Court of Appeals for the Third Circuit (Philadelphia).(Adds details throughout.)\–With assistance from Alex Vasquez.To contact the reporters on this story: Jef Feeley in Wilmington, Delaware at jfeeley@bloomberg.net;Bob Van Voris in federal court in Manhattan at rvanvoris@bloomberg.net;Porter Wells in Washington at pwells30@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, ;Jo-El Meyer at jmeyer154@bloomberg.net, Peter JeffreyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



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FDA approves drug for loss of sexual desire in women

FDA approves drug for loss of sexual desire in womenAnalysts have said that a drug that safely and effectively treats loss of sexual desire in women could eventually reach annual sales of about $ 1 billion. Palatin’s shares jumped 44% to $ 1.93, while Amag shares rose 11.5% after market. Vyleesi, chemically known as bremelanotide, activates pathways in the brain involved in sexual desire, helping premenopausal women with hypoactive sexual desire disorder (HSDD).



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Turkey recounts Istanbul votes after Erdogan's party appeals loss

Turkey recounts Istanbul votes after Erdogan's party appeals lossTurkish electoral authorities on Wednesday recounted votes in more than a dozen Istanbul districts after President Recep Tayyip Erdogan’s ruling AKP challenged results giving the opposition a narrow victory in a weekend election. The AKP won most votes nationwide in Sunday’s municipal ballot, but tallies also showed the party lost the capital Ankara and the country’s economic hub Istanbul in one of its worst setbacks in a decade and a half in power. AKP officials on Tuesday filed a challenge with electoral authorities saying they had found irregularities in ballots in both Ankara and Istanbul.



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Erdogan appears to concede Istanbul defeat after Ankara loss

Erdogan appears to concede Istanbul defeat after Ankara lossErdogan, who has dominated Turkish politics since coming to power 16 years ago and ruled his country with an ever tighter grip, campaigned relentlessly for two months ahead of Sunday’s vote, which he described as a “matter of survival” for Turkey. “The people have voted in favor of democracy, they have chosen democracy,” opposition leader Kemal Kilicdaroglu said, declaring that candidates for his secularist Republican People’s Party (CHP) had taken Ankara and Istanbul from the AK Party and held their Aegean coastal stronghold of Izmir, Turkey’s third largest city, Defeat for Erdogan’s Islamist-rooted party in Ankara was a significant blow for the president.



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BlackRock Sees Emerging Stocks Almost Recouping Last Year's Loss

BlackRock Sees Emerging Stocks Almost Recouping Last Year's LossIn the face of slowing global growth, the Federal Reserve is unlikely to raise rates this year, causing the dollar to weaken and improving the flows into emerging markets, said Fraser, global emerging-market equities fund manager. “Markets should recoup most, if not all, of their losses from last year,” Fraser, who is based in Hong Kong and helped manage the firm’s approximately $ 40 billion of active EM equities as of the end of 2018, said in a phone interview.



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Markets Right Now: Stocks mark 1st weekly loss since January

Markets Right Now: Stocks mark 1st weekly loss since JanuaryNEW YORK (AP) — The latest on developments in financial markets (all times local):



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Kristoff St. John's death calls attention to risks facing suicide loss survivors

Kristoff St. John's death calls attention to risks facing suicide loss survivorsYoung and the Restless star Kristoff St. John's death highlights the risks that face survivors of suicide loss. His son Julian St. John died in 2014.



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Louisiana town reels from loss of 5 children in fiery crash

Louisiana town reels from loss of 5 children in fiery crashMARKSVILLE, La. (AP) — It was supposed to be a fun, post-Christmas trip to Disney World for 14-year-old Jeremiah Warren and his friends from a church in this small Louisiana town — "clean fun" as Warren's aunt described it. But then word came of a fiery crash on a Florida highway that killed seven people, including five children from this area traveling in a church van.



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Sen. Lindsey Graham warns President Trump: Loss in wall battle could be 'end of his presidency'

Sen. Lindsey Graham warns President Trump: Loss in wall battle could be 'end of his presidency'"If he gives in now, that's the end of 2019 in terms of him being an effective president. That's probably the end of his presidency," Graham said.



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