Issue link: https://www.epageflip.net/i/10223
Saturday, May 8, 2010 – Daily News – 3B WORLD BRIEFING Giant box is lowered over Gulf well ON THE GULF OF MEXICO (AP) — It was part engineering marvel, part video game challenge Friday as crews painstak- ingly worked to lower a box the size of a house over the ruptured oil well that has spewed an esti- mated 3 million gallons of crude into the sea. Camera-equipped underwater robots operat- ed by joystick from the surface labored to maneu- ver the 100-ton concrete- and-steel vault into place so it could eventually cap- ture the oil and funnel it up to a tanker. It was an intrepid attempt to defuse an envi- ronmental crisis that has been unfolding since a deepwater drilling plat- form exploded April 20, sending toxic oil toward a shoreline of marshes, shipping channels, fishing grounds and beaches. Eleven workers were killed in the accident. The slow-moving drama was playing out 50 miles from Louisiana’s coast, requiring great pre- cision and attention to detail. It took about two weeks to build the 40-foot box, and the effort to lower it by crane and cable to the seafloor began late Thursday night. It could be Satur- day before the vault is on the bottom. ‘‘We are essentially taking a four-story build- ing and lowering it 5,000 feet and setting it on the head of a pin,’’ BP spokesman Bill Salvin told The Associated Press. Congress wants review of plunge WASHINGTON (AP) — Lawmakers are trying to learn the causes of the drastic stock market sell- off to ensure that high- tech trading is monitored and average investors are protected in the wilds of Wall Street. Sens. Ted Kaufman, D-Del., and Mark Warner, D-Va., have asked Senate Banking Committee Chairman Christopher Dodd to use the pending overhaul of financial reg- ulations to address the Dow Jones industrial average’s sudden, brief drop of almost 1,000 points Thursday. The House has scheduled a hearing on the market plunge for Tuesday. President Barack Obama said Friday that regulatory authorities are and carried it off about an hour later, when the department said there was no threat. Britain’s inconclusive election LONDON (AP) — Britain’s inconclusive election turned into high political drama Friday, with the Conservative and Labour parties woo- ing the same potential ally while the markets pressed for results and a public accustomed to clearer outcomes watched transfixed. Conservative leader evaluating the ‘‘unusual market activity’’ with an eye toward protecting investors and preventing a recurrence. He said regu- lators would make their findings and recommen- dations public. Warner and Kaufman, in a letter to Dodd Friday, want to use the financial overhaul bill moving through the Senate to require the Securities and Exchange Commission and the Commodity Futures Trading Commis- sion to undertake a thor- ough study of high-fre- quency trading and other tools that move markets in fractions of a second. ‘‘To simply say this was a technology anom- aly would be a huge mis- take,’’ Warner said in an interview. Trades that use complex algorithms are ‘‘even more esoteric than the derivatives sector.’’ Investigating Thursday’s stock swing WASHINGTON (AP) — President Barack Obama said Friday that regulatory authorities are evaluating the ‘‘unusual market activity’’ on Wall Street this week in hopes of keeping such a sudden, violent drop from happen- ing again. A computerized sell- off mixed with fears that the European debt crisis would spread sent the Dow Jones industrial average plummeting by almost 1,000 points with- in a half-hour Thursday afternoon. The market regained two-thirds of the loss before the end of trading. Surrounded by his eco- nomic team on the White House driveway, Obama commented on Friday’s report that the economy had added 290,000 jobs last month while the unemployment rate inched up to 9.9 percent. David Cameron, ahead but shy of a majority, seized the initiative with Obama said that while his administration is taking steps to boost hiring ‘‘we’re also mindful of other economic factors that can emerge,’’ such as a plunging stock market and fears of a spreading overseas financial crisis. He said regulators would make public their findings and recommen- dations about the stock market. Obama also said he spoke Friday morning with German Chancellor Angela Merkel about the economic situation in Europe. Abandoned water cooler found near failed bomb NEW YORK (AP) — Police cleared streets around Times Square on Friday and called in the bomb squad after finding a cooler and a shopping bag left on a sidewalk about a block from where a failed car bomb was found over the weekend. They opened streets to traffic after finding out the cooler contained only water bottles. A nearby shopping bag had books and a gift wrapped in pink tissue paper. Police had earlier cor- doned off a pedestrian mall and nearby streets with yellow tape around 1:15 p.m., while yelling ‘‘Get back, get back’’ at onlookers and guiding bomb-sniffing dogs through the area. The bomb squad X- rayed the soft-sided green cooler and the bag found on the pedestrian mall to determine, ‘‘in an abun- dance of caution,’’ whether it posed a threat, NYPD spokesman Paul Browne said. Six NYPD officers opened the cooler and the bag, took out the contents 1 DAY MEAT BONANZA May 8, 2010 8:00 am-5:00 pm Beef Tri-Tips (In the Bag) $ 289 lb. 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