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Debt Crisis: China Evergrande group to sell stock as deadline passes

A major shareholder in China Evergrande Group plans to sell all of its stock in the ailing Chinese real-estate developer, potentially incurring losses of more than $1 billion in the process.

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Passengers trapped inside submerged subway as deadly floods sweep central China

Terrified subway passengers in central China were left clinging to ceiling handles inside flooded cars on Tuesday, trapped up to their necks in rising water, as record breaking rains devastated parts of Henan province.

At least 12 people have been confirmed dead in Zhengzhou, the provincial capital, where more than 20 centimeters (7.8in) of rain fell in one hour on Tuesday, according to the meteorological observatory.

It is not clear how many people were trapped on the subway and rescue efforts remain ongoing across Zhengzhou, a city of 12.6 million on the banks of the Yellow River.

More than 100,000 people have so far been evacuated from low-lying areas of the city, with thousands of emergency personnel deployed to assist in the effort, according to state-run media.

All of the bodies recovered were taken from the city’s subway system, according to authorities.

Footage broadcast by state news agency Xinhua and shared widely online shows passengers in Zhengzhou trapped inside a flooded subway car, packed tightly together as the water climbs higher. Outside the window, dark floodwater rips past, surging down the subway tracks.

The city’s subway system, which contains seven lines and 153 stations, suspended all operations after the incident, according to provincial authorities.

More than 160 trains also stopped service in the city’s railway station, stranding a large number of passengers, according to Xinhua.

Other videos show residents on the street, water up to their hips, working desperately to pull out people trapped in an underground mall using ropes. One clip shared by state-run paper People’s Daily shows motorists on a road making a human chain, to prevent being swept away by the current as they struggle through rushing water.

The heavy rains also caused power outages across the city. One hospital in Zhengzhou, housing nearly 10,000 patients including more than 600 in critical condition, faced an hours-long blackout Tuesday.

Though the rains have since eased, problems are likely to persist, as dams and reservoirs reach capacity. In the early hours of Wednesday morning, the Guojiaju dam near the city collapsed, according to public broadcaster CCTV.

And in Yichun county, a brigade of the Chinese military raced to blast a dam and divert the floods at the request of county authorities, according to state-run media CGTN.

More than 6,000 firefighters, and nearly 2,000 members of the police and Chinese military, have been deployed for search and rescue operations, according to CGTN. Footage from the ground shows soldiers and emergency teams rescuing residents on rafts and clearing toppled power lines.

Though flooding during the summer months is an annual occurrence in parts of China, recent record breaking rains have alarmed scientists and officials, raising questions as to whether the country is prepared to deal with more extreme and unpredictable weather.

According to the report, Beijing has seen the fastest rise in average temperature with an increase of 0.32 degrees Celsius every 10 years. Guanzhou-Shenzhen has experienced 98 heat waves since 1961 — the majority of which have taken place in the past two decades.

Meanwhile, rainfall is much more volatile, swinging from highs to lows. The report said if global greenhouse emissions peak around 2040, some parts of China like Shanghai would experience a more than 25% increase in extreme rainfall — while other areas, like northwestern Guangzhou-Shenzhen, would see more drought

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A Boeing 737 cargo plane makes emergency landing in the water near Honolulu after pilots reported engine trouble

The pilots early Friday morning told air traffic controllers one of their engines had failed moments before the flight went down, the FAA said in a statement.

“The pilots had reported engine trouble and were attempting to return to Honolulu when they were forced to land the aircraft in the water,” the Federal Aviation Administration said in a statement, adding both crew members were rescued. “The FAA and National Transportation Safety Board will investigate.”

The plane, a Boeing 737, had taken off from Honolulu’s Daniel K. Inouye International Airport at 1:33 a.m., according to Flightradar 24. The flight-tracking website shows that shortly after it took off, the plane — referred to by the FAA’s statement as Transair flight 810 — began turning right and then signaled it was diverting to a nearby airport, Kalaeloa Airport. 

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One survivor who was seen on the tail of the aircraft was carried out of the water by the rescue helicopter and airlifted to a Honolulu hospital, while the other was rescued by officials from the Airport Rescue Fire Fighters based at Daniel K. Inouye International Airport.

The pilots reported they could not maintain airspeed and altitude following the failure of one of two engines on the Boeing 737-200, according to the recordings, and that they suspected the second engine would also fail.

“We’ve lost number one engine and we’re coming straight to the airport,” a crew member said, requesting that air traffic controllers begin dispatching the airport fire department. “We’re going to lose the other engine, too. It’s running very hot.”

The plane went down approximately two nautical miles south of Kalaeloa, Petty Officer 3rd Class Matthew West of the US Coast Guard District 14 Hawaii Pacific said.

Both crew members were brought to Queens Medical Center, West said, though he did not have information about their conditions.

“The weather on scene at the time of the rescue was winds of 17 mph and seas up to 5 feet,” the spokesman said in a subsequent news release.

According to the company website, Transair uses their Boeing 737 fleet to provide air cargo and charter services throughout Hawaii. The company has been in business since 1982.

“We are working with the Coast Guard, the FAA and NTSB to secure the scene and investigate the cause,” Riahi said. “Our most immediate concern is the care and recovery of our colleagues.”

FAA records show the plane was manufactured in 1975. It’s last airworthiness certificate was issued in 2015 and was set to expire in 2024.

A Boeing spokesperson said the company was “aware of the reports out of Honolulu, Hawaii and are closely monitoring the situation.”

“We are in contact with the U.S. National Transportation Safety Board and are working to gather more information.”

The NTSB initially said they will be sending a team of seven investigators to look into the incident, but the agency later said it would send ten.

it responded to a report of a downed plane south of the island of Oahu at around 1:40 a.m. and that both people on board were rescued, with help from the Honolulu Fire Department.

Transair, a Hawaiian cargo carrier, which specializes in flying freight between the islands, didn’t immediately return a request for comment. The airline has been operating since 1982, according to its website.

We are proud of our unblemished record in providing the longest running All Cargo operation in the State of Hawaii,” says a message on Transair’s website.

The plane was a 737-200, part of the first generation of 737s developed in the 1960s.

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Lady Caught on Camera stealing money from the church offerings.

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The video of a lady stealing money from the church’s offering basket has gone viral.

In the viral video, the lady could be seen picking the denominations she wanted from the offerings dropped in the basket.

It is however unknown where the incident happened.

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