Italy quake unlikely to trigger 200 million euro cat-bond default
Wed, 24 Aug 2016 11:59:47 -0400
A powerful earthquake in Italy on Wednesday is unlikely to force UnipolSai's 200 million euro ($226 mln) catastrophe bond into default as the bond has low exposure to the affected region, the Italian insurer said. The earthquake devastated a string of mountainous towns in central Italy, killing at least 73 people, trapping residents under piles of rubble and leaving thousands homeless. The Azzurro Re bond, issued by Unipol last year, was the first so-called catastrophe bond to cover earthquake risk in Italy.

US existing home sales slip on tight supply
Wed, 24 Aug 2016 11:55:00 -0400
The National Association of Realtors reported Wednesday that used home sales across the United States fell 3.2 percent in July from June to an annual pace of 5.39 million units. Showing the tightness of the market, the median existing-home price in July, including single-family homes and multiple-home units, was $244,100, compared with the 2015 average of $222,400.


Syria rebels backed by Turkish tanks 'seize' IS-held town
Wed, 24 Aug 2016 11:53:50 -0400
Turkish tanks and hundreds of opposition fighters thrust deep inside Syrian territory Wednesday in a lightning operation that within hours ousted Islamic State jihadists from a key Syrian border town. The air and ground offensive -- the most ambitious launched by Ankara in the Syria conflict -- made rapid progress towards Jarabulus with rebel fighters already proclaiming victory by the late afternoon just 14 hours after it started. "Jarabulus is completely liberated," Ahmad Othman, commander of the Sultan Mourad rebel group, told AFP from the scene, while another rebel spokesman said IS fighters had fled towards Al-Bab to the southwest.


Biden calls on Turkey to be patient in Gulen case
Wed, 24 Aug 2016 11:53:41 -0400
ANKARA, Turkey (AP) — U.S. Vice President Joe Biden called on Turkish authorities to be patient with the U.S. legal system as Turkey seeks the return of a cleric accused of masterminding last month's failed military coup.


Attack underway at American University in Afghan capital
Wed, 24 Aug 2016 11:53:36 -0400
KABUL, Afghanistan (AP) — The president of the American University in the Afghan capital says a militant attack is underway on the campus.


Militants attack American University of Afghanistan in Kabul
Wed, 24 Aug 2016 11:51:55 -0400
Explosions and gunfire rocked the American University of Afghanistan in Kabul on Wednesday, an official and students trapped inside classrooms told AFP, as the complex came under a militant attack. Among them was Associated Press photojournalist and Pulitzer Prize winner Massoud Hossaini. No militant group has so far claimed responsibility for the attack, which comes as the Taliban step up their summer fighting season against the Western-backed Kabul government.


US home sales fell in July amid inventory shortage
Wed, 24 Aug 2016 11:49:38 -0400
US homebuyers pulled back in July, as sales declined amid a shortage of available properties and steadily rising prices. Sales of existing homes fell 3.2 percent last month to a seasonally adjusted annual ...


The Latest: Pence blames both parties for manufacturing woes
Wed, 24 Aug 2016 11:47:25 -0400
WASHINGTON (AP) — The Latest on the U.S. presidential race (all times EDT):


American University president says militants attack campus in Afghan capital
Wed, 24 Aug 2016 11:44:40 -0400
KABUL, Afghanistan (AP) — American University president says militants attack campus in Afghan capital.

North Korean submarine missile launch shows improved ability
Wed, 24 Aug 2016 11:43:08 -0400
SEOUL, South Korea (AP) — A ballistic missile fired from a North Korean submarine on Wednesday flew about 500 kilometers (310 miles), the longest distance achieved by the North for such a weapon, Seoul officials said, putting all of South Korea, and possibly parts of Japan, within its striking distance.




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