Welcome to newsline. Its wednesday, february 27th, im Catherine Kobayashi in tokyo. Egyptian authorities have suspended all hot air balloon flights in luxor following a deadly accident in the ancient city. A balloon carrying 21 people crashed into a field. 19 people died. A witness told nhk a fire broke out and burned half of the balloons basket. He says he saw the pilot and a passenger jump out. He says the balloon rose higher as the flames spread. Then it crashed into a sugar cane field. Civil aviation minister wai al madawi visited the site of the accident. He says a committee from the ministry will investigate. Luxor provincial Officials Say four japanese are among the dead. A Japanese Travel Agency confirmed theyre two married couples from tokyo. The casualties also include tourists from britain and hong kong. Translator the basket of the doomed balloon was engulfed in flames within seconds. Luxor is located about 500 kilometers south of cairo. Its one of egypts most popular sight
Career moves forward. Wherever you are, fidelitys guidance can help tune your personal economy. Fidelity investments, turn here. At union bank, our relationship managers work hard to know your business. Offering Specialized Solutions in capital to help you meet your growth objectives. We offer expertise and tailored solutions for Small Businesses and major corporations. What can we do for you . And now bbc world news this is bbc world news america, reporting from washington. The vatican in crisis. The highestranking Roman Catholic resigns after he is accused of inappropriate behavior with priests. Forced to call a cave home. We are inside syria where the millions displaced by civil war now struggle to survive. In the last 24 hours, this is where people came what to live and hide. The atmosphere here is apollyon. It is dark and dank and suffocating is appalling. It is dark and dank and suffocating. The voters in italy have had their say, but why is it causing the u. S. Stock market to d
Home the prize for best picture. Captioned by the National Captioning Institute www. Ncicap. Org it looks like it will come down to the wire in italy where the latest Election Results appear to be pointing towards political gridlock. This poll is crucial as they are deciding who will lead them to the debt crisis. The votes are still being counted, but it looks like the central left is neckandneck with the central right, led by former leader burlesconi. The outcome could decide whether austerity is in or out. Early predictions givingpier Luigi Bersani a clear lead in the lower house of caller meant. Of parliament. As most likely partner is outgoing Prime Minister, mario monti, the architect of an Austerity Program popular with the international world. He may have been upstaged, but they currently have a slim lead in the upper house of parliament. A further muddying the picture, his tirades against the political elite helping his 5 Farm Movement to the initial in a strong third. Theyre s
Good morning. The days top stories, the Global Markets. Political paralysis, the point of that in italy spooking investors and lead to go a selloff on wall street. And then asia follows suit overnight. European stocks are tumbling on upper trading this morning. It is tuesday, february 26th, 2013 and squawk box begins right now. Good morning and welcome to squawk box here on cnbc where thirchx feel a little under pressure. Im Andrew Ross Sorkin along with joe kernen and becky quick. Well, becky quick is off today. She will be back tomorrow. Global markets focusing on italy this morning. Sylvia berlusconis center left rivals won parliaments left house, but failed to win an absolute majority in the upper house. This is creating uncertainty. Berlusconi has ruled out an alliance with former italian Prime Minister mario monti. Hes arguing the results reflect unpopular discontent with stocks. We saw sharp drops, italian yields jumping. Check out early stocks in european trading. This morning,
After the basket caught fire. He said the balloon rose hire and was soon engulfed in flames and then crashed in a sugarcane field. Associated press reports there was an explosion saying it plunged 300 meters from the sky. Staterun media say casualties included people from hong kong, belgium, britain and france. It says the egyptian pilot is hurt. The travel coordinated says the operator of the balloon had had two accidents in the past two years. Accident in the morning about 6 30. This company i call rubbish company and i tell the people this way. Why is that . He have two fires before. Hot air ballooning is popular with those who visit luxor. People in a number of Different Countries have been involved in fatal hot air balloon accidents in the past. In january 2012 a balloon flying northeast of the new zealand capital got tangled in electrical wire. It crashed and burst into flames. 11 people on board died. In 2009 a leaking gas cylinder sparked a fire in southern china. Four tourists