| Hungary workers race to build dam as reservoir crack widens Reservoir cracks threaten to unleash second torrent of toxic sludge on village of Kolontar in HungaryWorkers are racing to build an emergency dam in western Hungary on Sunday as cracks in a reservoir widen, threatening to unleash a second torrent of toxic sludge on the village of Kolontar and nearby rivers.About one million cubic metres of the waste material leaked out of the alumina plant reservoir into villages and waterways earlier this week, killing seven people, injuring 123 and fouling rivers including a local branch of the Danube.Kolontar was evacuated yesterday after cracks appeared in the northern wall of the reservoir.News agency MTI cited environment state secretary Zoltan Illes as saying a 25-metre crack in the weakened wall had widened slightly by this morning.Tibor Dobson, spokesman for disaster crews at the scene, said workers had laid the groundwork of a new dam in Kolontar to ward off any fresh flood of the sludge, which tore through neighbouring areas last Monday, toppling cars and wreaking havoc in houses.Dobson said the number of people evacuated from Kolontar, which lies closest to the reservoir, had increased to about 1,000 overnight.Prime minister Viktor Orban has said the torrent of sludge is the worst ecological catastrophe Hungary has suffered.The nearby town of Devecser, home to 5,400 people, remained on alert. The military has sent 319 soldiers and 127 transport vehicles into the town and five trains are ready in case it has to be evacuated.Dobson said 400-500 people had decided to leave the town voluntarily and at this stage an evacuation was unlikely. Orban will inform parliament about the findings of an investigation tomorrow and promised "the toughest possible consequences" to ensure such a disaster does not recur.The interior ministry said on its website that samples taken early today showed that alkalinity levels in smaller rivers affected by Monday's spill, and in the Danube, had returned to normal.HungaryPollutionguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds guardian.co.uk |
Arnie 'to help terminate the deficit' Hollywood star turned politician Arnold Schwarzenegger is visiting David Cameron in Downing Street. bbc.co.uk |
Goldman Sachs quarterly profits slump • Big slowdown seen in trading• Revenue down 28% to $8.9bn• $13.12bn for pay and bonuses, a 21% drop from last yearGoldman Sachs's earnings easily beat analysts' forecasts again, but the bank saw a big slowdown in trading, its most profitable business.Net income after paying preferred dividends fell 43% from the year-ago period as revenue in the bank's bond, currency and commodities trading division fell sharply.Goldman's income fell to $1.74bn (£1.1bn), or $2.98 per share, the bank said Tuesday. It earned $3.03bn during the same three-month period last year. Analysts polled by Thomson Reuters predicted earnings of $2.32 per share.Revenue fell 28% to $8.9bn, but still came in well ahead of the $7.92bn analysts had forecast. Goldman's shares rose 40 cents to $154.10 in pre-opening trading.Analysts have been expecting Goldman's earnings to decline because of slower trading, and have been slashing their estimates in recent weeks. A month ago, analysts' average forecast was for income of $3.05 per share.Goldman's trading volume fell in the third quarter amid historically low interest rates and waning market volatility. Those low rates benefited Goldman's investment banking division, however, which reported a 24% jump in revenue. With borrowing rates so low, many companies were eager to issue new debt.The decline in Goldman's overall revenue was also tied to a slowdown in stock trading and a weaker return on its investment in Industrial and Commercial Bank of China. Goldman's stake in the Chinese bank generated just $9m in revenue during the quarter, down from $344m during the same quarter last year.The New York-based bank continued to reduce compensation costs. The bank was strongly criticised during the financial crisis for doling out big paychecks even after it received government aid and while the broader economy suffered.Goldman set aside $3.83bn for compensation and benefits during the quarter. It has now set aside $13.12bn for compensation during the first nine months of the year, a 21% drop from the same period last year.Compensation totalled 43% of the company's revenue for the year so far, down from 47% last year.Goldman SachsBankingExecutive pay and bonusesUnited Statesguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds guardian.co.uk |
Eyewitness: Explosive riot Photographs from the Guardian Eyewitness series guardian.co.uk |
Sticks and Stones: The Top 5 Cablegate Insults The latest WikiLeaks dump includes a quarter million state department documents and almost as many diplo-disses feedproxy.google.com |