(Russia Today) ISIS claims it has 'dirty bomb' from Mosul research unit

{http://bit.ly/11Od0ha}

ISIS claims to have developed dirty bomb

So-called Islamic State militants claim to have developed a crude nuclear weapon using materials seized from Mosul University, Iraq. A British extremist boasted of the damage the dirty bomb would do if detonated in Iraq, UK media reports.

One of the militants bragging about the device online was Hamayun Tariq, fighting under the nom de guerre of Muslim-al-Britani, the Daily Mirror reports. Britani, a Briton who claims to be a bomb expert, tweeted:

"O by the way, Islamic State does have a dirty bomb. We found some radioactive material from Mosul University."

In another somewhat confused message he said a dirty bomb “would be terribly destructive if it went off In LONDON becuz [sic] it would be more of a disruptive than a destructive weapon.”

Another militant replied that such an attack would likely ramp us Western involvement, adding “Allah knows best.”

READ MORE: Islamists plan Christmas attacks on 5 planes in major European hubs – report

Reports that the Islamic State (IS, formerly ISIS) had stolen uranium compounds from Mosul University first came out over the summer. Writing to UN Secretary-General Ban Ki-moon on July 8, Iraqi UN Ambassador Mohamed Ali Alhakim said that 88 pounds of uranium used for scientific research at Mosul University had been looted.

Two days later, a spokesperson for the UN International Atomic Energy Agency (IAEA) said the material was “low grade” and “would not present a significant safety, security or nuclear proliferation risk."

A dirty bomb is a mix of explosives, such as dynamite, with radioactive powder or pellets. When the dynamite or other explosives are set off, the blast carries radioactive material into the surrounding area.

According to the Centers for Disease Control and Protection (CDC), the radioactive materials used in a dirty bomb “would probably not create enough radiation exposure to cause immediate serious illness, except to those people who are very close to the blast site.”

They noted, however, that “the radioactive dust and smoke spread farther away could be dangerous to health if it is inhaled.”

Due to the difficulty of transporting any such material, if the militants actually attempt to construct a dirty bomb, they would likely attempt to detonate it in Iraq or Syria.

On Monday a high-ranking UK security source told the Sunday Express that an “alive and real” Muslim terrorist bomb plot was in the works for the holiday season.

"We've been told that five planes are being targeted in a high profile hit before Christmas,” the source told the paper. “They've been waiting for the big one.”

WSJ : Two Former Banco Espírito Santo Employees Named as Suspects in Probe

Two Former Banco Espírito Santo Employees Named as Suspects in Probe
Isabel Almeida and Antonio Soares Became Suspects in Espírito Santo Probe After Raids

Two former Banco Espírito Santo SA employees, whose department had close ties with a small Swiss firm linked to the bank’s collapse, have been named as suspects in an investigation launched by the Portuguese general prosecutor’s office.

Isabel Almeida, who was responsible for managing the bank’s liquidity, and Antonio Soares, who was head of trading, became suspects after raids conducted by Portuguese authorities in Lisbon last week, a person familiar with the situation said Monday.

The prosecutor’s office said Friday that two people had been named as suspects, but didn’t identify them publicly. It is investigating the Espírito Santo group and its entities over alleged fraud, abuse of trust, falsification of documents and money laundering.

Ms. Almeida didn’t respond to requests for comment. Mr. Soares’s secretary said he declined to comment.

The raids targeted 34 homes and six entities related to financial activities in Lisbon. Banco Espírito Santo was broken up and bailed out in August, after it reported hefty losses on its exposure to struggling entities of the family-controlled Espírito Santo group. Many of the entities have since gone bankrupt. The home of Ricardo Salgado, the patriarch of the Espírito Santo family and former Banco Espírito Santo chief executive, was among the houses raided, according to Portuguese television footage.

The country’s central bank, Bank of Portugal, has accused Banco Espírito Santo of engaging in fraudulent activities meant to fund the group. Bank of Portugal Governor Carlos Costa recently told lawmakers that regulators had uncovered “evidence that suggests acts of deceit and ruinous management regarding the issuance and placement of Banco Espírito Santo debt in special-purpose vehicles based abroad through various movements made via a Swiss intermediary.”

The intermediary is Eurofin Holding SA, a small Swiss firm that is in the process of largely shutting down. The Wall Street Journal reported in October that regulators were looking at how Eurofin helped Banco Espírito Santo issue bonds at one price and then sell them to customers at a higher price using the vehicles. Regulators suspect the difference was injected into the Espírito Santo group, according people familiar with their thinking.

The Journal reported in October that the special-purpose vehicles, although ostensibly independent of Espírito Santo, took orders from Ms. Almeida and other senior bank executives at Banco Espírito Santo, according to an executive at a service provider tasked with running the vehicles. Ms. Almeida said in late July that the bank had secretly used offshore vehicles to finance the Espirito Santo group—confirming evidence presented to her by the new management team of Novo Banco, Banco Espírito Santo’s successor, according to people briefed on the meeting.

An internal Eurofin email dated in late 2009 and reviewed by the Journal cited Ms. Almeida and Mr. Soares among the bank executives Eurofin officials were planning to meet the following week in Lausanne.

Ms. Almeida and Mr. Soares now work at Novo Banco, although not in the same positions they held at Banco Espírito Santo. The prosecutor’s office said Friday that their activity at Novo Banco isn’t under investigation.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: VNCE -4.2%, QUNR -3.9%, THO -1.9%, GWPH -0.9%, JCI -0.7%


Select Brazil related names showing weakness: BVN -3.1%, PBR -2.2%, BBD -2.2%, ERJ -2%, ITUB -1.9%, TSU -1.9%, VIV -1.8%

Select mining stocks trading lower: GFI -5.1%, KGC -4.9%, AU -4.8%, IAG -4.3%, GDX -3%, PAAS -2.9%, AEM -2.4%, AG -2.3%, ABX -2.3%, GG -2.3%, NEM -2%, AUY -2%

Other news: HMY -4% (announced that following an intensive performance review of its Kusasalethu mine near Carletonville), AER -3.7% (offering of ~14.923 mln of its ordinary shares held by Waha AC Coöperatief), PSTR -3.2% (disclosed that on November 24, 2014 it received a notice from Nasdaq regarding the minimum bid price requirement), "NHI -2.2% (announced it has signed a definitive asset purchase agreement to acquire eight communities for a purchase price of $476 mln; Announces Offering of 3.5 Million Shares of Common Stock), ACRX -2.2% (received CE Mark approval for the Zalviso device), BMS -1.3% (moved from S&P 500 to replace CNQR in the S&P MidCap 400)

Analyst comments: GOLD -2.6% (downgraded to Neutral at Nomura), PCLN -1.8% (downgraded to Mkt Perform from Outperform at FBR Capital), THRX -1.6% (downgraded to Mkt Perform from Outperform at Leerink Partners), CCI -1.5% (downgraded to Mkt Perform from Outperform at Raymond James), AMT -1.2% (downgraded to Outperform from Strong Buy at Raymond James), CUB -0.9% (downgraded to Neutral from Overweight at JP Morgan), TRV -0.9% (downgraded to Neutral from Buy at BofA/Merrill), ORCL -0.6% (initiated with a Underweight at JP Morgan)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: SCVL +3.3%, ENVI +0.6%, BMO +0.5%

M&A news: CODE +19.3% (Cypress and Spansion to merge in $4 bln all-stock transaction), AVNR +13.6% (to be acquired by Otsuka Pharmaceutical for for $17.00 per share in cash), CY +13.5% (merger with CODE, also upgraded to Buy from Hold at Topeka Capital Markets and to Outperform from Sector Perform at Pacific Crest)

Select EU financial related names showing strength: NBG +3%, RBS +1.6%, BCS +1.4%, HSBC +1.4%

Select metals stocks trading higher: CLF +1.7%, MT +1%, BHP +0.8%, RIO +0.7%

Other news: DGLY +8.9% (cont strength), DRYS +6.9% (Announces Repayment of 5% Convertible Notes Due 2014), EOX +4.8% (announced increased borrowing base under its revolving credit facility), RCL +4.5% (to replace BMS in the S&P 500), MRH +2.7% (to replace TYL in the S&P SmallCap 600), MHR +4.1% (to replace TYL in the S&P SmallCap 600), POWR+2.8% (announced it has been awarded ~$15 mln in new business), CCL +2.4% (may be in sympathy with RCL), TASR +2.4% (cont momentum), GALE +1.7% (receives Notice of Allowance of U.S. patent application for GALE-401 composition of matter), GPRO +1.6% (still checking), CGEN +1.2% (announces experimental confirmation of additional methodology for discovery of cancer-related immune checkpoints), TYL +1% (to replace TIBX in the S&P MidCap 400), SKX +1% (favorable commentary on Monday's Mad Money)

Analyst comments: CPE +5.7% (initiated with a Buy at ROTH Capital; tgt $13.50), HIMX +2.4% (positive commentary at Northland), NANO +1.3% (upgraded to Buy from Hold at Stifel), MSFT +0.6% (initiated with a Overweight at JP Morgan), CRM +0.5% (initiated with a Overweight at JP Morgan)

>>> Fed's Lacker (hawkish, non voter): Markets should be able to deal with the F

Fed's Lacker (hawkish, non voter): Markets should be able to deal with the Fed selling assets at a fairly rapid pace; US economy has its own wellsprings of growth 
- Data-dependent Fed policy means there could be some volatility.
- There is no reason to intervene in times of market volatility, reasonably resilient financial markets should be able to handle volatility
- Not every instance of volatility is a crisis- Skeptical about relying very much on macroprudential policy or the ability to vary regulations in order to lean against the business cycle
- The October 15th selloff was not just about broker-dealer issues and regulations