Shares in the micro-blogging site Twitter have nearlydoubled in value, amid strong demand in the firstfew hours of trading on the New York StockExchange. The share price rose to about $45,valuing the company more than $25bn. Mark Gregory reports.
It was going down as one of the most spectacular debuts in the history of financial markets.Twitter was only being around seven years has never made a profit and has a modest sourceof income, yet its shares rose 80% in value the moment it joins the stock market and thenbriefly soared even higher than that. Measured by the stock price in relation to revenues,Twitter shares are now rated as among the most expensive of any new share issue ever.
The Pakistani Taliban says they've chosen Maulana Fazlullah as their new leader, the man whosefighters were responsible for the shooting of a school girl Malala Yousafzai. The militant says herejects the idea of peace talks with the government and wants to revenge the killing of hispredecessor, Hakimullah Mehsud in an American drone strike. The commander came toprominence six years ago when his forces seized control of Swat Valley in northwest Pakistanwhere he imposed a harsh form of Sharia or Islamic law.
Nearly 30,000 foreign workers have been rounded up in Saudi Arabia since a deadline forregulizing their status run out on Sunday. Many restaurants, laundries and other smallbusiness are closed as foreign workers stayed at home to avoid police raids. Here's SebastianUsher.
Photos posted online showed dozens of migrant workers seated on the ground after beingpicked up by the police. They've been given half a year to make their status legal in line withmore stringent labour laws. A senior Indonesian official told the BBC his country was preparingto fly out nearly 8,000 nationals, he said some had lived in Saudi Arabia for 30 years or more.
The majority had run away from their original employers, they are banned from returning forat least five years.
The authorities in the Philippines have ordered a massive evacuation and the closure ofschools as the most powerful typhoon of the year approaches the country. Super TyphoonHaiyan is generating gusts of 330km/h and threatening to cut the path of destructionthrough the central Islands of the Philippines after making landfall on Friday. In a televisedaddress, President Aquino called on local officials to do everything to minimize loss of life.
A court in Brazil has demanded an explanation from the internet giant Google about theprivate data it allegedly collected while its Street View car photographed some of the busiestcity streets around the country. Google was told to present the information by Saturday. Thejudge said if the company failed to meet the deadline, it will be fined about $45,000 a day.
World News from the BBC.
The Youth League of the governing African National Congress in South Africa says it's on theverge of collapse due to what it described as the reckless mismanagement to former leaders.It was previously run by the outspoken politician Julius Malema who was last year expelledfrom the ANC, he is facing fraud charges and tax investigation.
The embattled mayor of Toronto Rob Ford has become in broad in a fresh controversy justtwo days after admitting to have smoked crack cocaine. A Canadian newspaper has releasedvideo footage of the mayor swearing and threatening an unnamed person. RV reports fromToronto.
This video is the latest episode in a political saga which has gripped the city and the world. Themayor can be seen pacing up and down a room and swearing and using foul language at regularintervals. At one point in the conversation, which appears to have been secretly filmed on aphone, he threatens to rip out an unnamed person's throat and poke out his eyes. Shortlyafter the tape was released, the mayor spoke to reporters and apologized saying he wasextremely, extremely inebriated.
The US Food and Drug administration have proposed banning artificial trans fat common inprocessed foods like frozen pizzas and margarine. They say the move could prevent 7,000deaths a year from heart disease. Trans fat is used to improve the textures of the foods orincreased their shelf life.
The champion rider Tony McCoy has become the first jump jockey to ride 4,000th winners.The 39-year-old northern Irishman accomplished the feat when he triumphed in the second oftwo rides in the Towcester north of London. Afterwards he tried to put his record intoperspective.
"I'm really proud what I achieved cus its a tough sport, you know, and to be able to last oneway or another was something I'm very lucky to been able to do and feel very proud to be ableto do."
Tony McCoy.
BBC news.
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