Current Events Blog Week 2

Malaysia Airlines Plane Deliberately Diverted

The Malaysia Airlines plane that disappeared a week ago has had everyone wondering what could have happened, what could have suddenly taken the lives of 239 people. It is now thought to have been deliberately diverted. Malaysia's prime minister Najib Razak said that the communications of flight MH370 were deliberately disabled and that "the movements are consistent with the deliberate action of someone on the plane". Razak is not saying it was a hijacking per-say, and stating only that they are investigating "all possibilities". According to radar and satellite evidence, the plane could have even traveled for another seven hours than originally thought, making finding the plane (or whats left of it) even harder. Although, some think this news brings the families of the passengers some hope. But for now, it is just a waiting game. 

Egypt: Six Soldiers Shot Dead

In the northern Cairo suburb of Shurba al-Khayma, six Egyptian soldiers were shot dead by gunmen at a checkpoint. A security official said two bombs left behind by the attackers had been defused. Just two days earlier, another soldier was shot and killed on an army bus in eastern Cairo. This all being part of the upsurge of violence since the overthrow of Islamist President Mohammed Morsi last July. Hundreds of police and soldiers have been killed in the attacks. 

US Regulator Sues 16 Banks for Libor rigging

A US regulator has sued 16 banks for allegedly manipulating Libor. Libor is the "London interbank offered rate". It is used to set trillions of financial contracts such as mortgages and financial transactions worldwide. The regulator said that the manipulation devastated 38 US banks which were shut down during the 2008 financial crisis. Some major banks involved are Citigroup, Bank of America, JP Morgan Chase, Barclays and HSBC. The regulator has also sued the BBA, British Bankers Association, for their participation in this scheme. 

Works Cited

"BBC News." US regulator sues 16 banks for alleged Libor rigging. N.p., 15 3 2014. Web. 15 Mar 2014. <http://www.bbc.com/news/business-26584942>.

"BBC News." Egypt unrest: Six soldiers shot dead in Cairo. N.p., 15 3 2014. Web. 15 Mar 2014. <http://www.bbc.com/news/world-middle-east-26591463>.

"BBC News." Missing Malaysia Airlines plane 'deliberately diverted'. N.p., 15 3 2014. Web. 15 Mar 2014. <http://www.bbc.com/news/world-asia-26591056>.