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South Korea’s President declares national mourning period over deadly Halloween stampede

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South Korea’s President Yoon Suk-yeol declared a national mourning period over a deadly stampede that happened during Halloween festivities in Seoul.

According to the Yonhap news agency, the president said it was “so miserable” to see such a disaster happen in the heart of the city.

Authorities are still investigating the exact cause of the incident, but footage from the scene shows dense crowds of people leaving a bustling nightlife area after the crush killed over 140 people.

U.S. President Joe Biden offered his condolences after the tragedy, calling it “tragic.”

Emergency services were called to the site in Itaewon around 1:30 A.M. local time after reports of a “major accident” involving multiple casualties, Seoul’s Metropolitan Police Agency said in a statement obtained by ABC News.

When authorities arrived at the club entrance around 1:40 a.m., they found people “trampled to death,” the police agency said, adding that most of those who died were in their 20s and 30s.

In all, 149 people were killed and 16 others injured, officials said Sunday afternoon local time.

The tragedy unfolded as revelers were trying to leave the club after celebrating Halloween.

Some used their phones as flashlights while evacuating from the site amid screams and confusion, video footage showed.

The investigation into what caused the stampede is still ongoing, but authorities believe that it was started when someone sprayed soju—a Korean rice liquor—inside the club.

Soju is known to be flammable, and investigators found an empty soju bottle at the scene of the stampede, officials told Yonhap News Agency.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Eisman identifies infrastructure as key investment opportunity

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Famed investor Steve Eisman, has shifted his focus to infrastructure, citing three main reasons.

 

The pandemic-induced shift towards onshore investment, the rise of AI necessitating data centre expansion, and the global push towards greener energy.

Eisman believes these trends offer a decade-long opportunity for investors, with Australia presenting ample opportunities for market participation.

Notable companies to consider for exposure include BlueScope and James Hardie Industries for building materials, Macquarie Technology and Goodman Group for data centres, and Worley, AGL Energy, and Origin Energy for electricity grid upgrades and green infrastructure.

However, Eisman cautions investors to approach utility investments carefully, considering their capital expenditure budgets in renewable energy and grid upgrades.

 

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Civil War cinema brings in the box office dollars

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Alex Garland’s film “Civil War” has made a significant impact at the box office, surpassing expectations with a $25.7 million opening weekend in North America.

Starring Kirsten Dunst, Wagner Moura, and Cailee Spaeny, the film explores a near-future scenario where California and Texas unite against a president’s authoritarian regime. Despite fictional elements, “Civil War” has sparked widespread discussion, with its themes resonating in today’s political climate. The film’s performance, coupled with positive reviews, suggests a promising trajectory in the coming weeks, bolstered by a relatively quiet release schedule.

You can catch the trailer here

 

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Oil likely to see hike following Iran’s Israel attack

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Global oil markets are poised for potential disruption as tensions escalate in the Middle East following Iran’s recent attack on Israel.

The attack, which targeted key infrastructure, has raised concerns about the stability of oil supplies in the region.

Experts predict that the incident could lead to a spike in oil prices as investors react to the heightened geopolitical risk. #ticker today #featured

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