Top News Stories 2008-05-05 06:56:11

Front Page: Cyclone Kills 4,000, Mideast Peace This Year, Yahoo Stock Tumbles

  • Cyclone Kills 4,000: The death toll from the weekend cyclone in Myanmar has reached nearly 4,000 people this morning. Thousands of others are still unaccounted for, and at least one entire village has been obliterated. The reports have grown from 350 yesterday to the many thousands, and if accurate, this death toll would be the biggest from a natural disaster in Asia since the tsunami of December 2004. Focus now shifts to survival, and food and water are scarce. One resident says, "fuel is becoming scarce. People are likely to die of starvation. If international help doesn’t come within a week, it will be impossible to survive. There will be nothing left to eat." Witnesses have claimed the government has been slow to address the devastation.

  • Mideast Peace This Year: According to Secretary of State Condoleezza Rice, the US still believes a peace deal between Israelis and Palestinians is possible by the end of this year. However, she still describes Israeli settlement activity in the West Bank as "problematic," and after speaking with Palestinian Authority President Mahmoud Abbas, she said the US regarded the issue of the settlements as "particularly problematic to the atmosphere of trust that is needed" for peace. In other news, the UN is to again suspend distribution of food aid to Palestinians in the Gaza Strip because of fuel shortages. The announcement came several hours after Israel closed two major crossing points into the territory after they came under mortar fire. President Bush is seeking a peace deal in the area before the end of his term in January.
  • Yahoo Stock Tumbles: Yahoo's share price fell 22 percent in trading on Monday following Microsoft withdrawing its $47.5 billion takeover offer for the Internet search and media company. Yahoo rejected Microsoft's $33-per-share bid as too low and asked for $37 per share instead.
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