Finger amputation risk: Graco recalls 5 million strollers |
- Finger amputation risk: Graco recalls 5 million strollers
- YouTube scraps gala, plans second Music Awards online
- India biggest bank deal: Tycoon Kotak buys ING Vysya
- Seeing clearly: HIV drugs could help stop vision loss
- Plane loaded with 200kg of drugs crashes in Argentina (VIDEO)
- Next Media Video: Plane carrying cocaine crashes in Argentina
| Finger amputation risk: Graco recalls 5 million strollers Posted: 20 Nov 2014 05:31 PM PST
The recall affects 11 models of strollers with folding hinges that can pinch a child's finger, posing a laceration or amputation hazard, the Consumer Product Safety Commission said. About 4.7 million of the strollers were sold in the United States, 202,000 in Canada and 10,300 in Mexico, the agency said. The strollers were sold from 2000-2014. Graco said on its website that it has received 11 reports of finger injuries, including six reports of finger amputation, four cases of partial-fingertip laceration and one finger laceration. The CPSC instructed owners of the strollers to contact Graco for a repair kit that includes hinge covers. "While waiting for a repair kit, caregivers should exercise extreme care when unfolding the stroller to be certain that the hinges are firmly locked before placing a child in the stroller," the CPSC said. "Caregivers are advised to immediately remove the child from a stroller that begins to fold to keep their fingers from the side hinge area." — AFP  |
| YouTube scraps gala, plans second Music Awards online Posted: 20 Nov 2014 05:27 PM PST
The blockbuster video-sharing site in November 2013 debuted the YouTube Music Awards, with a live streamed show from New York that appeared aimed at creating a next-generation, new-media successor to the MTV Video Music Awards. The YouTube inaugural awards have had more than 54 million views but received a mixed reception among social media users. One common criticism was that the awards lacked a unique YouTube flavour, with rap superstar Eminem — no stranger to accolades — chosen as Artist of the Year. YouTube, which is owned by Google, said Wednesday that instead of a physical-world show, which in 2013 was hosted by director Spike Jonze, it would transform the site for one day in March 2015 to present the awards. "For one special day, music will be the headline act on YouTube," the company's official blog said. "We'll take this moment to celebrate the biggest and emerging artists through new and unique music video collaborations with top directors and creators," it said. While eager to reach out to music lovers, YouTube will scrap the inaugural awards' methodology of counting votes from fans. Instead, the YouTube Music Awards will use metrics that already exist on the video-sharing site to determine popularity, a company official said. The second awards ceremony will aim to be forward-looking by identifying videos that are expected to generate buzz in the coming year, rather than honouring past performances, the official said. The decision to hold a second round of the YouTube Music Awards comes as the company promotes a new subscription service. The company last week introduced YouTube Music Key, which will allow subscribers to listen to music without advertisements and without an Internet connection. Through YouTube Music Key, Google is seeking a greater slice of the online music business and to compete more forcefully with the likes of Spotify's streaming service, Apple's iTunes and Pandora Internet Radio. YouTube promised to debut a number of videos by prominent artists in the coming months ahead of the awards. Unlike many prizes, the YouTube Music Awards have been international in scope. At the inaugural edition, the South Korean pop group Girls' Generation, which has a wide following in Asia, beat out Western superstars to win Video of the Year for "I Got a Boy." — AFP |
| India biggest bank deal: Tycoon Kotak buys ING Vysya Posted: 20 Nov 2014 05:27 PM PST
Kotak Mahindra will pay 725 shares for every 1,000 shares of ING Vysya, Mumbai-based Kotak said yesterday. The deal implies a price of 790 rupees per ING Vysya share, the company said. That's a 16 per cent premium to ING Vysya's one-month average share price through Nov. 19. The transaction will create India's fourth-largest private sector bank, Uday Kotak said, and his branch network will almost double. The lender will gain presence in the country's south as well as in small and medium-sized business banking at a time when expectations of accelerating growth have pushed up the nation's benchmark stock index by one third this year. "This is one of the first voluntary mergers by Indian banks in recent history," said Hatim Broachwala, a banking analyst at Nirmal Bang Securities Ltd. in Mumbai. "The pipeline for similar deals in the country's financial services space looks really thin as of now." ING Vysya shares surged 7.8 per cent to 816.95 rupees in Mumbai yesterday after reports the deal was imminent drove its price to a record. Kotak Mahindra jumped 7.4 per cent to 1,156.7 rupees, valuing the company at 892 billion rupees. The transaction was announced after the close of trading. Foreign investors will hold about 47 per cent of the enlarged company, Kotak Mahindra said. Faster growth "The merged entity will have the right asset mix and network to capture an improvement in the macro-economic environment," Asutosh Kumar Mishra, a banking analyst at Karvy Stock Broking Ltd in Mumbai, said before the announcement. Kotak Mahindra's 641-branch network is deepest in western and northern India, while Bengaluru-based ING Vysya's 573 branches are concentrated in the south. Indian growth picked up to 5.7 per cent in the quarter ended June 30. The economy's expansion will accelerate to 6.4 percent next year from 5.6 per cent in 2014, the International Monetary Fund estimated last month. Prime Minister Narendra Modi won office this year by promising to improve infrastructure and cut red-tape to speed up the country's development. 'Potent combination' "Kotak Bank enjoys a higher return on equity than ING Vysya," P Phani Sekhar, a fund manager at Angel Broking Ltd., said in an interview with Bloomberg TV India. "Nevertheless, it is a very potent combination that will derive benefits over the longer term." Kotak Mahindra had a return on equity of 14.35 per cent in the year that ended March 31 while ING Vysya's ROE was 11.24 per cent. The Kotak Mahindra Group was founded by Uday Kotak, now 55, in 1985 as a financial services company. It received a banking license in 2003, making it the first non-bank finance company in the nation to become a bank. ING Vysya was started about 80 years ago and has about two million customers. The biggest bank takeover in India prior to this was HDFC Bank Ltd's purchase of Centurion Bank of Punjab Ltd in 2008. That deal was valued at 95.1 billion rupees when it was announced. ING gain ING Vysya is the only Indian lender controlled by an overseas company, Amsterdam-based ING Groep NV. ING expects the transaction to result in a €150 million (RM631.4m) gain upon closing, based on Vysya's book value at the end of September, it said. ING will have a stake of about 7 percent in the merged company, it said. ING inherited a 10 per cent stake in Vysya Bank when it bought Belgium's Bank Brussels Lambert SA in 1998. It raised that investment to 20 per cent in November 1999 and bought Vysya shares from India's GMR Group in June 2002 to increase its holding to about 43 per cent. The deal is expected to close by April, Kotak Mahindra Joint Managing Director Dipak Gupta told a Mumbai press conference yesterday. The deal will help billionaire Kotak to comply with a Reserve Bank of India order to cut his stake in Kotak Mahindra to 30 per cent by the end of 2016 from 40 per cent. The Kotak family stake in the merged bank will be 34 per cent. ICICI Bank Ltd is India's largest private-sector bank. — Bloomberg |
| Seeing clearly: HIV drugs could help stop vision loss Posted: 20 Nov 2014 05:26 PM PST
Research conducted on mice shows that a widely-used class of antiretroviral drugs (NRTI) used against HIV, the virus that causes AIDS, are also effective against macular degeneration, an age-related eye disease. The University of Kentucky researchers found that the NRTI drugs neutralize a protein pathway called the "inflammasome," helping prevent macular degeneration. In the study published in the journal Science, the researchers said the drugs may also be able to prevent liver inflammation and stop complications from tissue transplant. "Repurposing of NRTIs could be advantageous, for one, because they are very inexpensive. Moreover, through decades of clinical experience, we know that some of the drugs we tested are incredibly safe," said lead author Benjamin Fowler. — AFP |
| Plane loaded with 200kg of drugs crashes in Argentina (VIDEO) Posted: 20 Nov 2014 05:23 PM PST ANTA (Argentina), Nov 21 ― A small plane loaded with more than 200 kilogrammes of drugs crashed Wednesday in Argentina's Anta region, east of Salta city. According to radio Salta, the wrecked plane went up in flames, killing both people on board. The area surrounding the crashed plane caught fire as well. At the scene police found eight sackcloth bags, each of them containing 35 kilograms of an illegal substance thought to be cocaine. The exact cause of the crash is still unclear, according to Sitio Andino. This isn't the first time drug traffickers have used small planes to transport drugs from Bolivia to Argentina. Recently, a plane with some 400 kilos of cocaine was busted near the city of Estrella in the same region. ― Reuters
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| Next Media Video: Plane carrying cocaine crashes in Argentina Posted: 20 Nov 2014 05:20 PM PST Duration: 00:46, Published 21 Nov 2014 A small plane loaded with more than 200 kilogrammes of drugs crashed Wednesday in Argentina's Anta region, east of Salta city. ― Reuters |
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