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The two women from Hawaii who say they were lost at sea had an emergency beacon on the ship that was not activated during their roughly five months at sea, a Coast Guard spokeswoman tells CNN.The mariners, Jennifer Appel and Tasha Fuiava, had one EPIRB (Emergency Position Indicating Radio Beacon) on board, which was properly registered," Coast Guard Petty Officer 2nd Class Tara Molle told CNN.The emergency beacon, which is found on many vessels, is used to alert rescue locations around the world in the event of an emergency, "by transmitting a coded message on the 406 MHz distress frequency via satellite and earth stations to the nearest rescue coordination center," according to EPIRB.com. 706
The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The state of Michigan has agreed on a 0 million settlement in lawsuits regarding the Flint Water Crisis, Attorney General Dana Nessel announced Thursday.The settlement will be given to parties who claim they were affected by the city of Flint's 2014 transition of its public water supply to the Flint River; the majority of the money will be going to settle claims filed on behalf of children.The settlement was reached by the state parties and legal counsel after 18 months of negotiations.“Providing relief for the people of Flint and resolving these long-standing legal disputes has been a top priority for me since taking office,” Nessel said in a press release. “Flint residents have endured more than most, and to draw out the legal back-and-forth even longer would have achieved nothing but continued hardship. This settlement focuses on the children and the future of Flint, and the State will do all it can to make this a step forward in the healing process for one of Michigan’s most resilient cities. Ultimately, by reaching this agreement, I hope we can begin the process of closing one of the most difficult chapters in our State’s history and writing a new one that starts with a government that works on behalf of all of its people.”The preliminary agreement specifies that about 80 percent of the net settlement fund will be spent on claims of children who were minors when first exposed to the Flint River water, with a large majority of that amount to be paid for claims of children age 6 and younger, and earmarking 2 percent to go to special education services in Genesee County. Another 18 percent of the net settlement funds are to be spent on claims of adults and for property damage. Roughly 1 percent will go toward claims for business losses.If the settlement receives final court approval, it is likely to be the largest in Michigan state government history, affecting tens of thousands of people and resolving more than a hundred cases in state and federal trial and appellate courts."Protecting all Michiganders and their access to clean water is a priority for my administration to make sure nothing like this ever happens again," Governor Gretchen Whitmer said in a press release. "What happened in Flint should have never happened, and financial compensation with this settlement is just one of the many ways we can continue to show our support for the city of Flint and its families.""We acknowledge that this settlement may not completely provide all that Flint needs, and that many will still feel justifiable frustration with a system and structure that at times is not adequate to fully address what has happened to people in Flint over the last six years. We hear and respect those voices and understand that healing Flint will take a long time, but our ongoing efforts and today’s settlement announcement are important steps in helping all of us move forward."View a summary of the settlement below:Terms of Settlement 699810 7 by WXYZ-TV Channel 7 Detroit on Scribd This story was first reported by WXYZ in Detroit, Michigan. 3079
The weekslong search for Mollie Tibbetts, a 20-year-old Iowa student who disappeared while jogging, came to a grisly end Tuesday when a man guided investigators to a body in a cornfield.While authorities have yet to confirm the body is Tibbetts, they arrested Cristhian Bahena Rivera, 24, on first-degree murder charges.The discovery dashed the hopes of family and friends who had scoured Poweshiek and nearby counties as rewards grew to nearly 0,000. Tibbetts, officials said, is believed to have been abducted on July 18 as she went out for an evening jog.Rivera, who's an undocumented immigrant, told them Monday that he saw and pursued her, getting out of his car and running beside Tibbetts. She warned him she would call police, officials told reporters Tuesday.The suspect, who said he blacked out at some point, led authorities to the field Tuesday morning, they said. A body, dressed in Tibbetts' clothing, was covered in corn leaves.It is unclear why Rivera killed Tibbetts, said Rick Rahn, special agent in charge at the Iowa Division of Criminal Investigation."I can't really speak to you about the motive," Rahn said. "I can just tell you it seems that he followed her and seemed to be drawn to her on that particular day and for whatever reason he chose to abduct her." 1294
The South Georgia Islands might not be permanently populated by humans, but it is an important sanctuary for penguins, seals and other various creatures in the South Atlantic.But a giant iceberg, A68a, could threaten the wildlife on the islands, according to the Government of South Georgia & the South Sandwich Islands.With the assistance of the Royal Air Force, the government has been tracking the iceberg’s movement toward the islands. While the islands do not have a permanent population, they are visited by tourists and others.According to the BBC, A68a was 150 kilometers from South Georgia. The concern is the iceberg could disrupt breeding for penguins on the island.“We are now entering the key part of the year for breeding," Mark Belchier, director of fisheries and environment for the government of South Georgia & the South Sandwich Islands, told BBC News."The nests have been built for gentoo penguins, and eggs will be laid soon. And the first seal pups have been born in the last fortnight," he added.The islands used to be populated on a more permanent basis as a small settlement ran a whaling station.Before air travel, the islands were used by explorers to prepare for treks to Antarctica. Whalers on the island also played a key role rescuing Sir Earnest Shackleton’s crew after his expedition became stranded on Antarctica’s Elephant Island. 1381
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