Nature in Action:
Typhoon shuts down Hong Kong, and reaches China’s island of Hainan. Approximately 300,000 people were evacuated in Hainan in the face of the strongest typhoon to hit China this year as it reached Wenchang city with winds of up to 151 kilometres an hour.
HONG KONG A powerful typhoon brought Hong Kong to a shutdown Thursday, with financial markets and businesses forced to close. The Hong Kong Observatory hoisted a number-eight tropical cyclone warning before dawn, triggering the closure of schools and transport services. The number-eight warning was changed to number three at 4:10pm (0810 GMT).
In Vietnam, authorities said fishing boats should return to port and urged farmers to harvest crops quickly to reduce potential losses from the typhoon/tropical cyclone known as Nesat/Quiel (Nalgae) , which is expected to reach northern provinces on Friday.
Nesat made landfall in the Philippines on Tuesday, bringing heavy rains and winds that caused storm surges and massive flooding including in the capital Manila.
In the Philippines, tens of thousands of people were still engaged in neck-deep floodwaters Thursday after Nesat’s deadly path across Luzon.
Residents make their way along a street in Haikou (source: AFP)
Fire still rages, Shell ready to shut Bukom
(SINGAPORE) Shell – which has already started a two-day sequenced operation to shut down its 500,000 barrels of crude oil distillation capacity – is prepared to shut down its entire Bukom manufacturing site ‘if need be.’
Germany approves a bigger European bailout fund
Nokia to eliminate 3,500 jobs by end of 2012
Nokia announced Thursday that it will cut 3,500 jobs by the end of 2012, as part of a major restructuring effort. The scheduled layoffs are in addition to an announcement in April of eliminating 4,000 jobs.
US stocks slip despite jobs boost
Although the DJIA ends Thursday at 11,153.98 +143.08 points, the Sydney Morning Herald reports that US stocks declined earlier in the day, as losses by consumer and technology companies offset lower-than-estimated claims for unemployment benefits. [editor’s note: The DJIA index ends Thursday up 1.3% — no significant trading movement]
Mortgage Rates in US Fall to Record Low
China Internet Stocks Fall in New York on US Investigation
Chinese Internet stocks tumbled in New York trading after a top US securities regulator said the Department of Justice is reviewing allegations of accounting fraud at firms operating out of the … (Sept. 29, Bloomberg)
Furukawa agrees to settle US car parts action
Furukawa Electric, a Japanese car parts maker, has agreed to pay a $200m fine as part of a settlement with US antitrust authorities that marks the first US charges in a global investigation into practices in the car parts … (Financial Times)
Saudis aim to build 16 nuclear reactors to cut domestic oil use
Riyadh: Saudi Arabia, holder of one-fifth of global oil reserves, aims to build 16 nuclear reactors by 2030 as the nation seeks to cut the amount of crude it burns in generators to meet rising power demand, an official said.
Google plans $200 million Asian data centers
HONG KONG – Google plans to invest at least $200 million to build its first three data centers in Asia as it expands its infrastructure to keep pace with the region’s burgeoning Internet use.
China’s great leap towards superpower status with space station test launch
Tiangong 1, China’s first unmanned space module, blasts off in Jiuquan, Gansu province on Thursday.
CEO Survey Shows Less Confidence in US Hiring, Outlook
Top business executives are less confident about the US economic outlook and their ability to hire new workers than in previous quarters this year, according to a survey released Thursday by Business Roundtable. (Wall Street Jounal – blog)
FBI Said to Be Probing Solyndra for Possible Fraud
FBI agents exit the Solyndra LLC headquarters in Fremont, California, on Sept. 8. The company sought bankruptcy protection two days before the raid by Federal Bureau of Investigation agents. (Bloomberg)
Entrepreneurs flee Chinese of Wenzhou city over debts
At least one entrepreneur has killed himself and dozens of others are on the run in China after borrowing money from private lenders at very high interest rates, state media reported on Thursday. (Straits Times)
Protesters disrupt “troika” talks in Athens
Angry Greek civil servants have again been blocking the doors of government ministries in protest against austerity measures. They disrupted the start of talks between ministers and senior officials from the European Union, the International Monetary …
Reactor No. 2 cooled to below 100 C
JAPAN – The temperature at the base of the No. 2 reactor at the Fukushima No. 1 nuclear power plant fell below 100 C for the first time since the March disaster, according to Tokyo Electric Power Co.