News
FBI, NYPD issue $50,000 reward for tips leading to the Brooklyn gunman
The gunman is on the run after shooting ten people in a Brooklyn subway station in NYC on Tuesday
Authorities have named Frank James, 62, as a person of interest after a credit card was found on the scene of the shooting.
Police revealed that James had rented the U-Haul van in Philadelphia that authorities believe is connected with the shooting.
No suspects are in custody yet.
New York Police say that the shooting happened on Tuesday around 8:30 am ET at the 36th Street station in Sunset Park, Brooklyn.
Two smoke grenades were thrown on the floor of a subway train before the man fired what is believed to have been a Glock 9mm handgun 33 times.
An FDNY spokesperson says 16 people have been hospitalised, including five people in critical condition and 10 people suffering from gunshot wounds.
Officials say a gunman wearing a gas mask set off a smoke bomb in the underground station and then opened fire.
The suspect is believed to be wearing a construction uniform.
In chilling footage shared to social media, passengers could be seen running away from the train which had become filled with smoke from the smoke bomb.
Police are searching for the suspect
Local schools have activated a “shelter in place” order, according to a spokesperson for the Education Department.
US President Joe Biden has fronted the media following the rampage, thanking emergency responders for their efforts. He stated that the perpetrator will be found and held accountable.
“Not being investigated as terrorism” – Police say
Police Commissioner Keechant Sewell fronted the media stating that the attack was not being investigated as terrorism, but that she was “not ruling out anything.”
The shooter’s motive remains unknown.
Authorities released a photo they believed to depict the gunman, and the Arizona licence plate number of a U-Haul truck to look out for, two law enforcement officials said.
By early evening, police found a matching, unoccupied U-Haul van in Brooklyn, one of the police members said.
The FBI has now joined the investigation.
News
Dollar steady as markets await Fed’s rate decision
Dollar steady ahead of Fed’s expected rate cut decision on Wednesday
Dollar steady ahead of Fed’s expected rate cut decision on Wednesday
– The U.S. dollar stayed stable as investors await the Federal Reserve’s interest rate cut announcement.
– Asian equities rose, with the MSCI Asia Pacific Index hitting a record high amid U.S. market gains.
Market participants have largely priced in a 25 basis point reduction in the federal funds rate, anticipated to bring the key rate to between 4.00%-4.25%.
This marks the first easing action since December 2024.
Recent economic data indicates a cooling labour market, with jobless claims rising to the highest levels since 2021, overshadowing inflation concerns.
Market Movements
Asian equities experienced gains, continuing a global rally, with the MSCI Asia Pacific Index reaching a record high.
Chinese shares rose close to 1% despite disappointing factory and retail sales data.
This momentum follows historical closes in U.S. markets, with the Dow Jones Industrial Average surpassing 46,000.
News
ANZ to pay $160 million for bond deal violations
ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny
ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny
– ANZ Group will pay A$240 million in penalties for multiple violations, including fees to deceased customers.
– The bank plans to implement A$150 million in reforms and has announced 3,500 job cuts.
ANZ has admitted to the allegations and acknowledged the need for significant operational changes.
The bank’s trading practices during an A$14 billion government bond issuance negatively impacted bond prices, which led to a substantial loss for the government.
ANZ plans to submit a remediation strategy to the Australian Prudential Regulation Authority by the end of the month.
Company Changes
ANZ has stated it will spend A$150 million on reforms by the end of the financial year.
The Finance Sector Union is expected to file a claim regarding the recent job cuts made by the bank.
News
Climate report warns of rising heat deaths and property losses
Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action
Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action
– Climate change could cause hundreds of deaths and $500 billion decline in property values in Australia.
– Increased extreme weather events may lead to rising insurance costs and potential uninsurability of homes.
The projected increase in heat-related deaths in Australia’s capital cities, as outlined in the report. Picture: Climate Risk Assessment
Rising sea levels and extreme weather are expected to escalate insurance costs, making coverage unaffordable or unavailable.
Climate Change and Energy Minister Chris Bowen acknowledged that many Australians will find these projections distressing, but they underscore the urgency of addressing climate change.
Changes in total annual freight costs by Local Government Area in a 2090 scenario, compared to 2024. Picture: Australia’s National Climate Risk Assessment
Property Risks
Projected increases in heat-related deaths are particularly concerning. For instance, at a 1.5-degree rise in temperatures, heat-related mortality in Sydney could increase by 103%, reaching about 450 deaths annually at a 3-degree rise.
Coastal flooding days are expected to increase significantly in major urban areas, necessitating critical intervention.
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