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Sun, 05 Dec 2021
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Britain's biggest losers: Lakshmi Mittal, Stelios and Mike Ashley see billions wiped from their riches

  • £164bn wiped of British shares in a week
  • Steel magnate Lakshmi Mittal loses £2.16bn
  • Almost $3tn wiped off shares prices worldwide sparking fears of recession
Britain's richest man became the nation's biggest loser this week as £164bn was wiped off British shares in a single week.

The world's largest steel maker Lakshmi Mittal lost £2.16bn following a calamitous six days for stock markets on both sides of the Atlantic sparking fears the meltdown will lead to a double-dip recession.

The share price of Mr Mittal's company Arcelor Mittal, of which he owns 40.83 per cent, plummeted 18.7 per cent this week reducing the value of his fortune to £9.7bn.

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Che Guevara

1000s Protest Police Brutality in Spain

Thousands of Spanish protesters have held rallies in the Spanish capital of Madrid to protest at the use of force by country's police officers during an earlier demonstration.

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© unknown
The protesters accused the authorities of abusing their power after 20 people were injured in clashes with riot police late Thursday during a rally at the interior ministry to protest the closure of the city's Puerta Del Sol Square in Madrid, AFP reported.

Madrid's Puerta Del Sol Square has been the hub of anti-government protests over the country's economic crisis since mid-May.

On Thursday, over 200 police forces were deployed to the square for the third straight day to put an end to the anti-government protests.

USA

One in Seven Americans Lives on Food Stamps

food stamps
© unknown
Believe it or not, one in seven Americans - 15 percent of the country - now need government-provided food stamps simply to survive, according to latest government figures.

Nearly 46 million Americans receive food stamps out of a population of some 311 million people, the US Department of Agriculture, which administers what's officially called the Supplemental Nutrition Assistance Programme reported Thursday.

The continued high unemployment and the weak US economy have contributed to the explosive growth of the food stamp programme with no end in sight to the monthly increases, CNN said noting that 27 million people were dependent on food stamps in October 2007.

Under the food stamps programme, an eligible individual gets $200 a month in food stamps - in the form of a debit card that can be used at supermarkets and stores to buy authorised food.

A two-person household gets $367 a month. A three-person household gets $526 a month. And a four-person household gets $668 a month.

Stormtrooper

US, Colorado: TSA Confiscates Pregnant Woman's Insulin, Ice Packs


Security Tells Woman Isulin Vial Was An Explosives Risk

A Denver couple has filed a formal complaint with the Transportation Security Administration after a pregnant woman's insulin and ice packs were confiscated by screeners at Denver International Airport.

The couple has traveled around the world with her medical supplies, including insulin and syringes, and have never encountered any troubles before, they said.

"It made me feel upset and made me feel somewhat helpless," said Aaron Nieman.

Nieman's wife was traveling alone to a baby shower in Phoenix when she was questioned by a TSA agent as she went through security around 4 p.m. Thursday.

People

US, Illinois: Moms to Break Breast-Feeding Record in Hopes to Change Culture

breast feeding, breast milk, baby
© unknown
Breast-feeding moms across Illinois and the nation plan to join an international attempt to break a world Breast-feeding record.

The "Big Latch-On" is part of the World Health Organization's World Breastfeeding Week and is being sponsored, in part, by La Leche League USA.

Mothers around the world plan to gather at 10 a.m. Saturday for simultaneous breast-feeding.

National "Big Latch-On" coordinator Annie Brown tells WLS Radio that the goal is to change the stigma and culture of breastfeeding in the United States.

"I would like every baby to have access to its mother's milk, to change the environment in the U.S. as being a bottle feeding culture," Brown explained, "To change the culture so that breast feeding is normal."

Pistol

US: Gunmen Open Fire at Bus in Philadelphia



A nightmare came to life on board a public bus in Philadelphia back in July. Prosecutors showed security camera video in court showing passengers scrambling as men with guns open fire, according to myfoxphilly.com .

Prosecutors say the shooting and violence triggered because of a phone call that a woman, Penny Champan, made after having words with someone on the bus.

The video shows Chapman's boy running up and down the aisles by one of the seven cameras on board. Finally she grabs the child and spanks him. A man sitting behind her doesn't approve and he threatens to turn her in for child abuse.

Heart - Black

Heart Breaking Child Abuse: Chained Up With the Dog: The Chinese Boy Kept as Slave by Uncle

This 12-year-old Chinese boy has been chained up by his uncle for the past two years.

It's claimed that this is for his own safety because he's mentally handicapped - but most people will find these images truly shocking.

Cai Changqing, from Erlongshan village in Harbin, north-east China's Heilongjiang Province, is shackled each day to a shabby shelter outside his uncle's home.

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© Rex Features
Dismal: Cai Changqing is chained in a shabby shelter every day - and it's claimed that it's for his own good

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© Rex Features
Squalor: Cai Changqingis plays in the dirty yard with a dog

Bizarro Earth

US, Wisconsin: State Fair Melees Produce 11 Injuries, 31 Arrests

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© Jeff Sainlar
Extra security officers guard the Wisconsin State Fair on Friday. Witnesses and police reported two separate incidents of mobs of unruly youths on Thursday night, resulting in at least 11 injuries and 31 arrests. Seven of the injured were police officers, and two were hospitalized.

Unprecedented violence on the opening night of the Wisconsin State Fair by rampaging youths prompted extraordinary measures Friday: The head of the fair implemented new rules to keep unattended teens off the grounds at night, and Gov. Scott Walker ordered the State Patrol to help keep order.

Milwaukee Mayor Tom Barrett and Police Chief Ed Flynn, meanwhile, promised Friday to beef up policing at this weekend's major public events around the city to limit any chance of the State Fair events being repeated.

The violence left workers and patrons of the fair in West Allis shaken and reminded many of the mob-like disturbances that occurred over the Fourth of July weekend in Milwaukee.

The trouble at the fair started around 7 p.m. Thursday in the midway area, where amusement rides are located, when fights broke out among black youths, said Tom Struebing, chief of the State Fair Police. Those fights did not appear to be racially motivated.

Then around the closing time of 11 p.m., witnesses told the Journal Sentinel, dozens to hundreds of black youths attacked white people as they left the fair, punching and kicking people and shaking and pounding on their vehicles.

At least 31 people were arrested - many for disorderly conduct - in connection with the incidents on the fairgrounds and on the streets outside. At least 11 people, seven of them police officers, were injured, officials said. Twenty-four people were arrested within the fairgrounds by State Fair Police. West Allis police arrested seven people, five of them juveniles, outside the fairgrounds.

People

Israel: Tel Aviv's 'tent city' protesters dig in to demand social justice

A Tel Aviv 'tent city'
© Uriel Sinai/Getty
A Tel Aviv 'tent city'. Similar areas have appeared in 40 towns across Israel, and there have been countless small demonstrations.

Grassroots campaign calling for social justice emerges in Israel as thousands protest against cost of living

Tent villages are to be pitched in up to a dozen Israeli-Arab towns on Friday as momentum behind Israel's grassroots campaign for social justice continues to build and unite disparate sections of society. Taxi drivers blocked a major road in Tel Aviv on Thursday protesting over the cost of diesel, and parents planned "stroller protests" in the early evening demanding the cost of childcare and baby equipment be reduced.

On Wednesday dairy farmers, army reservists, animal rights activists and West Bank settlers all held separate protests in Tel Aviv's Rothschild Boulevard, the centre of the nationwide movement. In Jerusalem, protesters blocked roads leading to the Knesset (parliament). Further demonstrations have been called across the country for Saturday following last week's marches, which attracted around 150,000 people, almost unprecedented in a country with a population of 7 million.

Protesters are uniting over the high costs of housing, rearing children, fuel, electricity and food but the dominant slogan has been: "The people demand social justice."

"The protest is still growing," said Stav Shaffir, 26, one of the leaders. "Every day I get phone calls from new tent cities." Shaffir, a masters student, was one of the first to pitch a tent three weeks ago in protest at the high rents.

Dollar

S&P Downgrades US Credit Rating to AA-Plus

triple a
© Michele Constantini | PhotoAlto | Getty Images

The United States lost its top-notch triple-A credit rating from Standard & Poor's Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics," S&P said in a statement.