Gerard Butler is starring in the film, "Machine Gun Preacher" which is set to premiere at the Toronto Film Fest. Directed by Marc Forster (QUANTUM OF SOLACE), the film is based on a true story about Sam Childers, an ex drug dealer who finds a new calling helping hundreds of orphans. The film will open in New York in September.
Rwanda handed over six mountain gorillas to the Republic of Congo on Wednesday after rescuing them from poachers who would have either sold them as exotic pets or slaughtered them for meat. Poaching has decimated populations of chimpanzees, gorillas and forest elephants throughout the jungles of west and central Africa in recent years, prompting regional government officials to step up efforts to stop trafficking.
Officials from Russia's Roskosmos space agency on Wednesday said that the International Space Station will be crashed into the ocean after its intended life cycle expires in 2020. “After it completes its existence, we will be forced to sink the ISS. It cannot be left in orbit, it's too complex, too heavy an object, it can leave behind lots of rubbish,” said the agency's deputy director Vitaly Davydov. “Right now we've agreed with our partners that the station will be used until approximately 2020,” he added.
US stocks posted hefty losses Wednesday as the ongoing political bickering over a deal to raise the debt limit continued with the clock ticking on a potential default. Not helping matters, a disappointing report on June durable goods orders concerned investors over the manufacturing sector, which has been one of the bright spots in the nation's tedious recovery. Airplane and defense equipment maker Boeing reported per share earnings that were well above expectations, driving shares up 0.67 percent, making it the best performing component of the Dow on a dismal trading day.
Microsoft has had an ongoing dispute with Linux for years, but several years back, the Redmond, Washington-based software giant decided to develop a relationship with Linux purveyor Novell and its enterprise-focused SUSE Linux OS. The German branch of Microsoft even wished Linux a happy 20th birthday last week, in an attempt to further thaw the historically chilly relationship.
Netflix Inc announced on Wednesday it has reached an agreement with CBS Corp to begin streaming television shows including “Californication”, “Twin Peaks”, and “Dexter” to its subscribers in Latin America and Canada. The agreement will be in effect for a period of two years and comes on the heels of a similar agreement between the two companies earlier this year that allows Netflix to stream the shows in the United States.
The Mortgage Banker Association reported Wednesday that applications for US mortgages waned last week after climbing sharply in the previous week. The group's seasonally adjusted index of mortgage application activity, which combines data for refinance loan requests and purchase loan applications, fell 5.0 percent in the week ended July 22nd. The decline also occurred as interest rates moved slightly higher.
Clorox has again rejected a buyout offer from Carl Icahn, calling the activist investor's latest bid of $80 a share “inadequate.” Clorox's board unanimously rejected the offer after rejecting a previous offer of $76.50 per share. Shares were trading at just above $73.25 as of 1:20 PM ET on Wednesday. A statement from Clorox said that Icahn's offer “ substantially undervalues the company and is not credible.”
Wal-Mart Stores is beginning its experiment with smaller stores by opening the very first Walmart Express in the Chatham neighborhood of Chicago on Wednesday. The company hopes the smaller stores will be able to penetrate inner-city neighborhoods which have resisted its traditional superstores. Walmart Express stores will be around 10,000 square feet in size, roughly ten percent of the size of its familiar superstore locations.
Atlanta-based Delta Airlines released second-quarter results Wednesday, posting a 58 percent decline in profit compared to a year ago, mainly because of significantly higher costs for jet fuel. For the three months ended June 30th, the airline reported net income of $198 million, or 23 cents per share, compared to a net of $467 million, 55 cents a share, in the year ago period. Fuel costs during the quarter were 36 percent higher than a year ago, costing the company about $2.66 billion for the three months.