USA - Grand Central deserted and subway CLOSED for only second time in history as New York goes into lock down. BA and Virgin Atlantic have cancelled all flights from London to East Coast states today - affecting those on half-term holiday. Up to 2,500 holidaymakers could be left stranded in New York City as state comes to stand still. More than 7,000 flights cancelled globally as Philadelphia International Airport and Newark International Airport each had more than 1,200 cancellations. New York Stock Exchange closes for first time since 9/11 As many as 65 people reported dead across Caribbean. Sandy could be the largest storm to ever hit the United States.
USA - The United States runs the risk of a recession far deeper than many investors and policymakers may think if lawmakers fail to avert looming tax hikes and cuts to public spending. Absent action by Congress, the country will face the so-called fiscal cliff at the start of next year, a combination of lower spending and higher taxes that is expected to extract about $600 billion from the economy. Many economists think every dollar of deficit reduction will subtract nearly the same amount from economic growth. But research by economists in academia and at the International Monetary Fund suggests a dollar of deficit reduction could drain as much as $1.70 from the economy, making the prospective belt tightening much more dangerous.
EUROPE - European Central Bank President Mario Draghi has backed German calls for a European super-commissioner to oversee national government budgets. German Finance Minister Wolfgang Schaeuble wants the "currency commissioner" to be given the power to veto national budgets. "I explicitly support this proposal," Mr Draghi told Der Spiegel magazine. Plans to impose strict limits on budget deficits have already been agreed by 25 of the 27 European Union members. Only the UK and the Czech Republic have opted out of the new rules. "If we want to re-establish trust in the eurozone, countries must pass a part of their sovereignty to the European level," said Mr Draghi.
VATICAN - When the Vatican proclaimed 2013 as the “Year of the Faith,” I wondered if this meant a rethinking of the ecumenism that has long characterized the Catholic Church’s respectful relationship with other faith communities.
UK - The population of Britain will rocket to nearly 80 million by 2050 — an increase of a third — according to an authoritative new projection by the Population Reference Bureau. It’s a chilling prospect and has sparked renewed debate about mass immigration. Last week, the Economist magazine called the Tories’ attempts to limit immigration their ‘barmiest policy’, and complained Britain ‘has, in effect, installed a “keep out” sign over the white cliffs of Dover’. But is it wrong to want tighter controls over our borders?
USA - More than 50 million people from the mid-Atlantic to New England braced Saturday for a potentially massive storm, as Hurricane Sandy churned northward on a collision course with another storm system that is sweeping in from the west.
SUDAN - Satellite images of the aftermath of an explosion at a Sudanese weapons factory this past week suggest the site was hit in an air strike, a US monitoring group said Saturday. The Sudanese government has accused Israel of bombing its Yarmouk military complex in Khartoum, killing two people and leaving the factory in ruins. Israeli officials have neither confirmed nor denied striking the site. Instead, they accused Sudan of playing a role in an Iranian-backed network of arms shipments to Hamas and Hezbollah. Israel believes Sudan is a key transit point in the circuitous route that weapons take to the Islamic militant groups in the Gaza Strip and Lebanon.
USA - Governor Andrew Cuomo said he was "activating all levels of state government to prepare for any potential impacts." The hurricane, which was headed for a still uncertain landfall on the US East Coast after pounding the Caribbean and the Bahamas, could make a direct hit on New York next week, according to forecasts.
EUROPE - The European chorus of conservative, nationalist protest against Turkey's possible entry into the union [is] growing increasingly vocal, especially in Germany and France. Whatever happened to liberté, égalité, fraternité? Fear of Muslims is putting Europe's secular tradition at risk. It is clear that this fear is leading Europe to put up walls at its borders, and to gradually turn away from the world. As the slogan of liberté, égalité, fraternité is slowly forgotten, Europe will sadly turn into an increasingly conservative place dominated by religious and ethnic identities.
CANADA/HAWAII - A tsunami triggered by a 7.7 magnitude earthquake thousands of miles away in Canada has hit the island chain of Hawaii, with no damage reported so far. Emergency sirens sounded late on Saturday to alert residents, and evacuations of low-lying areas were ordered. The first waves were reported to be up to 2.5ft (76cm) in one area. Wave heights of three to six feet were predicted in some areas, as "urgent action" was advised to protect lives.
USA - More than a Dozen Nuclear Plants Near Hurricane Sandy’s Path Brace for Impact [in] North Carolina, Virginia, Maryland, New Jersey, Pennsylvania, New York and Connecticut. Bloomberg reports: “Because of the size of [Hurricane Sandy], we could see an impact to coastal and inland plants,” Neil Sheehan, a spokesman based in Philadelphia for the US Nuclear Regulatory Commission, said by phone today. “We will station inspectors at the sites if we know they could be directly impacted.” The NRC met earlier today to discuss the necessary precautions to take for the storm, Sheehan said. Plants must begin to shut if wind speeds exceed certain limits, he said.
JAPAN - Fish caught in waters off the coast of northern Japan, where an earthquake triggered a radiation leak at the Fukushima power plant, are still as contaminated today as a year ago, a study found. Contamination levels were particularly high among species dwelling at the bottom of the ocean, as sinking radioactive materials tainted the seafood, the research showed. The findings, published today in the journal Science, suggest there is a continued source of radiation from the seafloor that will have a lasting impact, said Ken Buesseler, the study’s author. “This means that even if these sources were to be shut off completely, the sediments would remain contaminated for decades to come,” said Buesseler.
USA - Given all the roiling debates about how America’s children should be taught, it may come as a surprise to learn that students spend less than 15% of their time in school. While there’s no doubt that school is important, a clutch of recent studies reminds us that parents are even more so. A study published earlier this month finds that parental involvement — checking homework, attending school meetings and events, discussing school activities at home — has a more powerful influence on students’ academic performance than anything about the school the students attend.
UK - A shipment of powerful anti-tank mines have been stolen from a goods train. Thieves are thought to have snatched the mines, used by British troops in Afghanistan, when the train was forced to stop because of a body on the track. Investigators are concerned that the mines, which the British Army use to blow up bridges and buildings in Helmand, could fall into the wrong hands. A military source told the Mail: ‘If extremists or criminal gangs got their clutches on the munitions and managed to get someone to prime and charge them, which is difficult but not impossible, there is the potential for carnage.’
UK - Britain now has the financial firepower to quit the EU straight away and go it alone, experts declared last night. The country’s best performance for five years means the UK now leads the world as we ease out of recession, economists said. Ours was the strongest major economy on the planet between July and September, according to research group Capital Economics. And it predicted we will continue to outstrip the rest of Europe until at least 2015. Tory MPs last night said it was now time for Britain to unshackle itself from the EU’s economic “corpse” as they led fresh calls for a referendum on cutting ties with Brussels altogether.