For student’s still replaying their finest memories from the weekend, you may have missed significant news stories. This week’s news in review spotlights a natural disaster, the good and bad regarding mayors of major cities and a foreign policy issue that has eluded a resolution.
Twitter’s initial public offering (IPO) created a palpable buzz on the floor of the New York Stock Exchange (NYSE) Thursday morning. Despite some controversy over the price of shares, which opened at $45.10, stock rose to $50.09 before closing at $44.90. In contrast to Nasdaq’s glitches during Facebook’s IPO in May of last year, Twitter experienced a smooth day of trading on the NYSE. However, over 150 protestors swarmed to Twitter headquarters in San Francisco, Calif. displaying their frustration with increased real estate prices as a result of Twitter’s relocation to the neighborhood last year. Protestors could not undermine Twitter’s moral as the company took to bold, exciting step in its relatively young history.
Typhoon Haiyan made landfall in the Philippines with winds at over 195 mph. Fortunately, the storm’s path did not pass through the capital of Manila. The city still felt the effects of the wind and rain, but had minor damage. Haiyan’s wind gusts are believed to have been stronger than any other cyclone in history. Haiyan, which is referred to as Yolinda in the Phillipines, is reported to be stronger than the record mark of Hurricane Camille that hit the U.S. in 1969 at 190 mph. Philippine President Benigno Aquino III issued a televised statement assuring civilians that a vast military force is standing by to conduct rescue operations: “No typhoon can bring Filipinos to their knees if we’ll be united.” Multiple reports estimate over 10,000 dead, but this figure has not been confirmed. Widespread looting has taken place because of the massive devastation that makes food and relief aid so sparse.
Troubled Mayor Rob Ford, has smoked crack cocaine, admitted to a drinking problem and threatened to commit “first-degree murder” in his latest rant gone public. Ford’s lawyer, Dennis Morris, said Friday that Ford is “considering his options” regarding his mayoral duties and the pressure he faces to enter rehab. The mayor’s behavior has caused restlessness among many of Toronto’s residents who have protested for Ford’s resignation. Despite mounting outcry for his resignation — even from political allies — Ford has said he will run for re-election.
Bill de Blasio will be the first democrat to serve as New York City’s mayor in 20 years. The former advisor to Mayor Rudolph Giuliani, de Blasio will replace Michael Bloomberg who has served the city for the last 12 years. For many it is a welcomed change. The results showed that de Blasio won by a large margin by registering 73.3% of the votes, according to the New York Times. This margin of victory was the largest in an NYC mayoral race since 1985 when former Mayor Edward Koch took 68% of the vote.
After initial reports that France prevented an agreement from being reached, it is now reported by BBC that Iran “backed out” of a deal because they could not accept the conditions at the present moment. However, since a deal was not reached Secretary of State John Kerry was forced to defend the negotiation tactics. However, officials from Iran and the six world powers — which are known as P5 + 1 that consists of the U.S., U.K., France, China and Russia plus Germany —are set to meet again on November 20 with hopes of reaching an accord. Kerry defended Washington’s negotiating strategy, which offers Iran limited relief from international sanctions if they freeze expansion of their nuclear activity.