Exxon quarterly profit falls, output tumbles

























(Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil company, on Thursday reported a lower quarterly profit that topped expectations, as higher margins from its refining arm countered a 7.5 decline in oil and gas output.


Refining margins have improved as companies benefit from processing cheaper grades of crude oil from Canada as well as shale basins like the Eagle Ford in south Texas.





















“The (earnings) beat definitely came from the refining side of the business,” said Brian Youngberg, energy company analyst at Edward Jones in Saint Louis. “The production decline was more than expected. It has been a recurring challenge for Exxon.”


Earnings from Exxon’s global refining business more than doubled to $ 3.2 billion. The company’s exploration and production business had a profit of $ 5.97 billion, down 29 percent.


The Irving, Texas, company said its third-quarter earnings had fallen to $ 9.57 billion, or $ 2.09 per share, from $ 10.33 billion, or $ 2.13 per share, a year earlier.


Analysts on average had expected a profit of $ 1.95 per share, according to Thomson Reuters I/B/E/S.


Oil and gas output declined 7.5 percent to 3.96 million barrels oil equivalent per day, Exxon said.


The company and other global oil producers are buying oil and gas assets in North America as they struggle to raise production in a sector where vast energy resources are tightly controlled by countries like Brazil.


Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $ 2.64 billion. That deal will give Exxon access to some of the most promising shale oil and gas region in Western Canada.


The company said it had bought back 58 million shares of its own stock for $ 5.1 billion in the third quarter.


Shares of Exxon edged down 0.8 percent to $ 90.41 in premarket trading.


(Additional reporting Ernest Scheyder in New York; Editing by Lisa Von Ahn and Gerald E. McCormick)


Business News Headlines – Yahoo! News



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Mexico’s Day of Dead brings memories of missing

























MEXICO CITY (AP) — Maria Elena Salazar refuses to set out plates of her missing son’s favorite foods or orange flowers as offerings for the deceased on Mexico‘s Day of the Dead, even though she hasn’t seen him in three-and-a-half years.


The 50-year-old former teacher is convinced that Hugo Gonzalez Salazar, a university graduate in marketing who worked for a telephone company, is still alive and being forced to work for a drug cartel because of his skills.





















“The government, the authorities, they know it, that the gangs took them away to use as forced labor,” said Salazar of her then 24-year-old son, who disappeared in the northern city of Torreon in July 2009.


The Day of the Dead — when Mexicans traditionally visit the graves of dead relatives and leave offerings of flowers, food and candy skulls — is a difficult time for the families of the thousands of Mexicans who have disappeared amid a wave of drug-fueled violence.


With what activists call a mix of denial, hope and desperation, they refuse to dedicate altars on the Nov. 1-2 holiday to people often missing for years. They won’t accept any but the most certain proof of death, and sometimes reject even that.


Numbers vary on just how many people have disappeared in recent years. Mexico’s National Human Rights Commission says 24,000 people have been reported missing between 2000 and mid-2012, and that nearly 16,000 bodies remain unidentified.


But one thing is clear: just as there are households without Day of the Dead altars, there are thousands of graves of the unidentified dead scattered across the country, with no one to remember them.


An investigation conducted by the newspaper Milenio this week, involving hundreds of information requests to state and municipal governments, indicates that 24,102 unidentified bodies were buried in paupers’ or common graves in Mexican cemeteries since 2006. The number is almost certainly incomplete, since some local governments refused to provide figures, Milenio reported.


And while the number of unidentified dead probably includes some indigents, Central American migrants or dead unrelated to the drug war, it is clear that cities worst hit by the drug conflict also usually showed a corresponding bulge in the number of unidentified cadavers. For example, Mexico City, which has been relatively unscathed by drug violence, listed about one-third as many unidentified burials as the city of Veracruz, despite the fact that Mexico City’s population is about 15 times larger.


Consuelo Morales , who works with dozens of families of disappeared in the northern city of Monterrey, said that “holidays like this, that are family affairs and are very close to our culture, stir a lot of things up” for the families. But many refuse to accept the deaths of their loved ones, sometimes even after DNA testing confirms a match with a cadaver.


“They’ll say to you, ‘I’m not going to put up an altar, because they’re not dead,” Martinez noted. “Their thinking is that ‘until they prove to me that my child is dead, he is alive.”


Martinez says one family she works with at the Citizens in Support of Human Rights center had refused to accept their son was dead, even after three rounds of DNA testing and the exhumation of the remains.


“It was their son, he was very young, and he had been burned alive,” Martinez said by way of explanation.


The refusal to accept what appears inevitable may be a matter of desperation. Martinez said some families in Monterrey also believe their missing relatives are being held as virtual slaves for the cartels, even though federal prosecutors say they have never uncovered any kind of drug cartel forced-labor camp, in the six years since Mexico launched an offensive against the cartels.


But many people like Salazar believe it must be true. “Organized crime is a business, but it can’t advertise for employees openly, so it has to take them by force,” Salazar said.


While she refuses to erect an altar-like offering for her son, she does perform other rituals that mirror the Day of the Dead customs, like the one that involves scattering a trail of flower petals to the doorsteps of houses to guide spirits of the departed back home once a year.


Salazar and her family still live in the same home in Torreon, though they’d like to move, in the hopes that Hugo will return there. They pray three times a day for God to guide him home.


“We live in the same place, and we try to do the same things we used to,” said Salazar, “because he is going to come back to his place, his home, and we have to be waiting for him.”


Mistrust of officials has risen to such a point that some families may never get an answer they’ll accept.


The problem is that, with forensics procedures often sadly lacking in Mexican police forces, the dead my never be connected with the living, which is the whole point of the Mexican traditions.


“As long as the authorities don’t prove the opposite, for us they’re still alive,” Salazar said. “Let them prove it, but let us have some certainty, not just the authorities saying ‘here he is.’ We don’t the government to just give us bodies that aren’t theirs, and that has happened.”


Latin America News Headlines – Yahoo! News



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RIM’s CEO says new BlackBerry phone being tested

























TORONTO (AP) — BlackBerry maker Research In Motion says its much-delayed new smartphones are now being tested by 50 wireless carriers around the world.


The Canadian company said Wednesday that it is a critical milestone as it prepares to launch the new BlackBerry 10 software and phones in the first quarter next year.





















The phones have been deemed critical to RIM’s survival. The release will come as North Americans are abandoning BlackBerrys for flashier iPhones and Android phones.


New Chief Executive Thorsten Heins had vowed to do everything he could to release BlackBerry 10 this year but he said in June that the timetable simply wasn’t realistic.


RIM was once Canada‘s most valuable company with a market value of more than $ 80 billion in 2008, but the stock has plummeted since.


Wireless News Headlines – Yahoo! News



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“Community” returning to old time slot in February

























NEW YORK (TheWrap.com) – “Community” will return Thursday, February 7 to its previous timeslot after a long absence from NBC‘s lineup.


NBC confirmed the show’s return date soon after star Yvette Nicole Brown, who plays Shirley on the ensemble comedy, announced the news on Twitter.





















“Guys, #Community officially has an airdate: Thursday, February 7th at 8pm!,” tweeted the actress. NBC also announced several others return and premiere dates Tuesday.


The move means the network has abandoned its plans to move the show to Friday nights. “Community” will take the place of “30 Rock,” which will have completed its 13-episode final season by February.


“Community” was scheduled to move to Fridays beginning on October 19. But NBC opted to delay the Friday debut of “Community” and “Whitney” so it could devote itself to promoting its new fall comedies.


When one of them, “Animal Practice,” was cancelled, its timeslot went to “Whitney,” and the fate of “Community” was left up in the air.


Despite the long delay – “Community” hasn’t aired since the spring – the Thursday timeslot is good news for the show since Fridays usually draw much lower ratings.


NBC fired “Community” creator and showrunner Dan Harmon at the end of last season. Though it is critically acclaimed and has many diehard fans online, that hasn’t translated into many viewers.


NBC’s entertainment chairman has said that the network wants to focus more this season on broad comedies than on its quick-witted but odd Thursday shows, which tend to struggle for ratings.


TV News Headlines – Yahoo! News



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Biogen’s hemophilia-A drug meets late-stage trial goal

























BOSTON (Reuters) – Biogen Idec Inc said on Wednesday its experimental treatment for patients with hemophilia A, a disorder that inhibits coagulation of the blood, controlled bleeding in a late-stage clinical trial.


Biogen, which makes the multiple sclerosis drugs Avonex and Tysabri, said it plans to submit an application to market the drug with the U.S. Food and Drug Administration in the first half of 2013. It will file with European regulators after it completes a study of the drug in children.





















Last month, Biogen and its partner Swedish Orphan Biovitrum AB (Sobi), reported promising results of a trial of their drug to treat hemophilia B, a less common form of the disease.


Hemophilia is a new disease area for Biogen.


Hemophilia A is caused by a lack, or insufficient amount of, the blood coagulation factor VIII. Patients with hemophilia B lack or have reduced levels of coagulation factor IX.


Biogen’s drugs are designed to cut the number of infusions needed to control bleeding. Existing Factor VIII products must be taken as many as three to four times a week. Factor IX products must be taken intravenously two or three times a week.


In Biogen’s latest study, known as A-LONG, 98 percent of bleeding episodes were controlled with one or two injections of its long-lasting Factor VIII drug.


Individual and weekly preventative regimens resulted in median annualized bleeding rates in the low single digits, the company said.


The market for hemophilia A treatments is worth about $ 5 billion, according to Biogen, while the market for hemophilia B treatments is about $ 1 billion


(Reporting By Toni Clarke; Editing by Alden Bentley and Gerald E. McCormick)


Medications/Drugs News Headlines – Yahoo! News



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An Anxious Wall Street Readies Its Reopening


























4:15 pm., Oct. 30, 2012 — Thanks to Hurricane Sandy, for the first time since 1888 weather has stopped U.S. stock trading for two straight days. With the exception of at least one brave, renegade Starbucks (SBUX) outlet, Sandy’s 90-mile-per-hour winds and storm surge left swaths of New York feeling time-warped back to the Gilded Age. The markets have gone dark on the anniversary of the Crash of 1929’s Black Tuesday.


Back then, of course, Twitter hadn’t yet finished its beta testing. Last night, one wag used that buzzing forum to quip that lower-Manhattan habitués Citigroup (C) and Goldman (GS) may have to be bailed out a bit more literally than last time.





















What’s to come: the weeks-long hassle of co-location, telecommuting, and rerouting to account for closed subway stations. But since “Wall Street” spans farther than it used to—from the bond desks of Newport Beach, Calif., to Connecticut hedge fund country, flooding a few Manhattan skyscrapers’ lobbies isn’t the fatal blow to the markets it might once have been. Domestic equity trading is now spread across 13 exchanges and dozens of private broker-run venues.


Even so, Sandy could jolt Greater Wall Street into an anxiety and volatility it hasn’t felt for months. Complacency has dominated equity and debt markets for much of 2012. The Standard & Poor’s 500-stock index is up 12 percent, having traversed September and October with nary a quiver. Fixed-income markets are getting their dregs scraped, with junk bonds looking drunk and desperate portfolio managers chasing yield in Puerto Rico. The world’s been lulled into a prolonged sense of “risk-on.” Next week’s presidential election could truly go either way. Details of a possible resolution to the national fiscal cliff are anyone’s guess.


So the idea that Wednesday’s planned, weather-permitting reopening of New York’s stock exchanges could succumb to tech glitches is an especially scary one. “Do you really want to open up the market and have these potential issues right before the election, right before month end?” Matt McCormick, who helps oversee $ 7.3 billion at Cincinnati-based Bahl & Gaynor, asked Bloomberg News. “I’d rather be slow and correct than fast and wrong and really wrong. It’s better to be conservative.”


A market that’s 25 years removed from the technical meltdown of the Crash of ’87 is still disturbingly vulnerable to trading disasters. Witness the August software error at Knight Capital Group that nearly bankrupted the market maker, or the embarrassing opening delays Nasdaq (NDAQ) experienced in its May debut of Facebook (FB) shares.


Bats Global Markets had to scotch its initial public offering when it couldn’t get its shares to trade on its own exchange. Then there’s the still-unresolved mystery behind the Flash Crash of 2010.


“I’m a little surprised that the exchanges couldn’t secure the technology needed to keep the market operating,” says Dominic Salvino, a specialist on the CBOE floor for Group One Trading, the primary market maker for VIX options. “It seems unreasonable that the nation’s financial markets have to shut down just because everyone has located themselves within five miles of each other in New Jersey. A snowstorm in Chicago wouldn’t shut down trading on the East Coast.”


Forgive the pun, but the NYSE (NYX) lies in uncharted waters. The last comparable closure of the storied exchange was during the blizzard of March 12 and 13, 1888. Ninety years later, the exchange closed for a day and a half after a February 1978 snowstorm.


So all fingers are crossed for Wednesday. The good, albeit mercenary-sounding, news is that traditionally, hurricanes have not hindered market gains. According to Standard & Poor’s (MHP), the S&P 500 gained an average of 3.9 percent during the three months following each of the 13 costliest U.S. hurricanes and added 5.8 percent over the subsequent six months. As Sam Stovall, S&P’s New York-based chief equity strategist, wrote in a note: “Equities are more likely driven by wider-reaching global events than localized natural disasters.”


For what it’s worth, this gorgeous rainbow was just spotted over lower Manhattan.


—Roben Farzad



Farzad is a Bloomberg Businessweek contributor.


Businessweek.com — Top News



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Syrian air force on offensive after failed truce

























AMMAN (Reuters) – Syrian warplanes bombed rebel targets with renewed intensity on Tuesday after the end of a widely ignored four-day truce between President Bashar al-Assad‘s forces and insurgents.


State television said “terrorists” had assassinated an air force general, Abdullah Mahmoud al-Khalidi, in a Damascus suburb, the latest of several rebel attacks on senior officials.





















In July, a bomb killed four of Assad‘s aides, including his brother-in-law Assef Shawkat and the defense minister.


Air strikes hit eastern suburbs of Damascus, outlying areas in the central city of Homs, and the northern rebel-held town of Maarat al-Numan on the Damascus-Aleppo highway, activists said.


Rebels have been attacking army bases in al-Hamdaniya and Wadi al-Deif, on the outskirts of Maarat al-Numan.


Some activists said 28 civilians had been killed in Maarat al-Numan and released video footage of men retrieving a toddler’s body from a flattened building. The men cursed Assad as they dragged the dead girl, wearing a colorful overall, from the debris. The footage could not be independently verified.


The military has shelled and bombed Maarat al-Numan, 300 km (190 miles) north of Damascus, since rebels took it last month.


“The rebels have evacuated their positions inside Maarat al-Numaan since the air raids began. They are mostly on the frontline south of the town,” activist Mohammed Kanaan said.


Maarat al-Numan and other Sunni towns in northwestern Idlib province are mostly hostile to Assad’s ruling system, dominated by his minority Alawite sect, an offshoot of Shi’ite Islam.


Two rebels were killed and 10 wounded in an air strike on al-Mubarkiyeh, 6 km (4 miles) south of Homs, where rebels have besieged a compound guarding a tank maintenance facility.


Opposition sources said the facility had been used to shell Sunni villages near the Lebanese border.


“WE’LL FIX IT”


The army also fired mortar bombs into the Damascus district of Hammouria, killing at least eight people, activists said.


One video showed a young girl in Hammouria with a large shrapnel wound in her forehead sitting dazed while a doctor said: “Don’t worry dear, we’ll fix it for you.”


Syria’s military, stretched thin by the struggle to keep control, has increasingly used air power against opposition areas, including those in the main cities of Damascus and Aleppo. Insurgents lack effective anti-aircraft weapons.


U.N.-Arab League envoy Lakhdar Brahimi has said he will pursue his peace efforts despite the failure of his appeal for a pause in fighting for the Muslim Eid al-Adha holiday.


But it is unclear how he can find any compromise acceptable to Assad, who seems determined to keep power whatever the cost, and mostly Sunni Muslim rebels equally intent on toppling him.


Big powers and Middle Eastern countries are divided over how to end the 19-month-old conflict which has cost an estimated 32,000 dead, making it one of the bloodiest of Arab revolts that have ousted entrenched leaders in Tunisia, Egypt and Libya.


The United Nations said it had sent a convoy of 18 trucks with food and other aid to Homs during the “ceasefire”, but had been unable to unload supplies in the Old City due to fighting.


“We were trying to take advantage of positive signs we saw at the end of last week. The truce lasted more or less four hours so there was not much opportunity for us after all,” said Jens Laerke, a U.N. spokesman in Geneva.


The prime minister of the Gulf state of Qatar told al-Jazeera television late on Monday that Syria’s conflict was not a civil war but “a war of annihilation licensed firstly by the Syrian government and secondly by the international community”.


Sheikh Hamad bin Jassim al-Thani said some of those responsible were on the U.N. Security Council, alluding to Russia and China which have vetoed three Western-backed U.N. draft resolutions condemning Assad.


He said that the West was also not doing enough to stop the violence and that the United States would be in “paralysis” for two or three weeks during its presidential election.


(Additional reporting by Raissa Kasolowsky in Abu Dhabi and Stephanie Nebehay in Geneva; Writing by Oliver Holmes; Editing by Alistair Lyon)


World News Headlines – Yahoo! News



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Everybody Loves the iPad Mini

























The reviews for the latest hyped-about Apple device are in and, surprise surprise, everybody thinks it’s amazing. The iPad Mini was announced last week after a seemingly never-ending torrent of rumors about its existence, and with just two days left before the device hits store, the embargo on the reviews was just lifted. Like we said, the reaction, so far, is expectedly ecstatic.


RELATED: The iPad Mini Event Invites Are Out





















It’s so pretty!


RELATED: Why Is Apple So Scared?


This is more or less the first thing out of any reviewers mouth (or fingertips) when talking about a new Apple device. We get it. Apple makes beautiful objects. How beautiful? “If the iPhone 5 is reminiscent of jewelry, the iPad mini is like a solidly made watch,” wrote The Verge’s Joshua Topolsky. “The iPad mini’s paint job is similar to the iPhone’s, but smoother, and on the black version I tested has a glint of blue and purple to it in certain light. It looks dangerous, and it feels great.”


RELATED: What Does ‘Sold Out’ Mean for the iPad Mini?


It’s so small!


RELATED: Apple CEO Is Sure You Will Hate Your Cheap Non-Apple Tablet


So the big thing about the iPad Mini is that it’s smaller. This feels incredibly obvious, but tech bloggers are still blown away by just how much smaller it is. It’s really small! “The most striking thing about the mini is in how thin and light it is. It is really thin and light,” wrote Bloomberg Businessweek’s Rich Jaroslovsky. “Crazy thin and crazy light, even.” We saw this one coming, Rich. Impossibly thin has been Apple’s jam ever since the MacBook Air debuted in 2008, and after the iPhone 5 stunned reviewers with its lack of heft, we should have expected the iPad Mini to be truly mini. As Jaroslovsky points out, though, it impressively beat competitors on weight and thickness — it’s 21 percent lighter than the Kindle Fire HD and 30 percent thinner — despite having a larger screen.


RELATED: Google Doesn’t Get the Importance of Gadget Packaging


It’s so comparable!


At this point in time, it feels wildly cliché to drop the whole “It’s just like the iPad only smaller!” line, but it’s so wildly true. Everyone seems thrilled that the iPad Mini has instant access to the 275,000-plus iPad apps as well as the 700,000 iOS apps currently on the market. That’s mostly because, the smaller package also sports the same screen resolution as the iPad 2. It’s not jaw-droppingly sharp like the Retina display or anything, but it’ll do. 


Come to think of it, though, this lower resolution screen is a real down side. The Kindle HD is a little bit thicker and heavier, but Transformers 2 looks awesome on the high resolution screen. Maybe the difference isn’t that big a deal, though. “Apple insists the device does better than standard definition, if you are obtaining the video from its iTunes service, since iTunes scales the video for the device, so it will render somewhere between standard definition and HD,” explained The Wall Street Journal’s Walt Mossberg. “In my tests, video looked just fine, but not as good as on the regular iPad.”


It’s kind of expensive!


The $ 329 the iPad Mini is not the $ 199 Kindle Fire HD, and it is not the $ 199 Google Nexus 7. It’s significantly more expensive, but it’s also built out of aluminum and glass rather than plastic. Expensive is bad, right? No, silly goose. We’re talking about an Apple product here. The fact that it cost so much is practically generous on Apple’s part. “By pricing the Mini so high, Apple allows the $ 200 class of seven-inch Android tablets and readers to live (Google Nexus, Kindle Fire HD, Nook HD),” wrote David Pogue at The New York Times. “But the iPad Mini is a far classier, more attractive, thinner machine. It has two cameras instead of one. Its fit and finish are far more refined. And above all, it offers that colossal app catalog, which Android tablet owners can only dream about.”


Class, glass and apps. All in the iPad Mini. Get in line now.


Gadgets News Headlines – Yahoo! News



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Israeli-Palestinian drama ‘The Other Son’ wins Tokyo Film Fest

























LOS ANGELES (TheWrap.com) – Lorraine Levy‘s Palestinian/Israeli drama, “The Other Son,” won the Tokyo Sakura Grand Prix, the top award at the 25th Tokyo International Film Festival, on Sunday night. Levy also took home the best director honors at the festival, which marks the final go-round for festival chairman, Tom Yoda.


The special jury prize went to Kang Yi-kwan’s “Juvenile Offender.” Seo Young-joo, who stars in the film, was awarded the best actor prize. The best actress award went to Neslihan Atagul for “Araf – Somewhere in Between.” Tetsuaki Matsui‘s “Flashback Memories 3D,” about a Japanese didgeridoo player who loses his memory, took home the audience award. The Toyota Earth Grand Prix for the best nature-themed fiction or documentary was given to Valerie Berteau’s “Himself He Cooks.”





















“All the films were excellent,” said Roger Corman, president of the international competition jury. “They each demonstrate the glory and power of cinema to entertain, inform, and teach us.”


For the first time this year, TIFFCOM, the market arm of the festival took place in Odaiba, a man-made island in Tokyo Bay. At TIFFCOM, there were 227 exhibiting companies from 25 countries and regions, up from last year’s 20 countries, with 111 of those entities were new exhibitors.


At the close of the festival, Yoda reflected back on his five years as chairman.


“It is the fifth year since the introduction of the Green Carpet and the Toyota Earth Grand Prix. It is also the 25th memorable year for us. On such as special year, I am very happy to have had the world respected Roger Corman leading the member of the jury,” he said.


Movies News Headlines – Yahoo! News



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NYU Medical Center Evacuated

























Paramedics and other medical workers began to evacuate patients from New York University Langone Medical Center due to a power outage caused by Tropical Storm Sandy, followed by a failure of backup generators at the hospital, New York City officials said Monday night.


About 200 patients, roughly 45 of whom are critical care patients, were moved out of NYU via private ambulance with the assistance of the New York Fire Department, city officials said. ABC News’ Chris Murphey reported a long line of ambulances outside of NYU Langone waiting to transport patients to other hospitals in the city.





















The hospital had a total of 800 patients two days ago, some patients were discharged before tonight’s evacuation, which was described by emergency management officials as “a total evacuation.”




NYU Medical Center Forced to Evacuate Over 200 Patients Watch Video



According to ABC’s Josh Haskell, 24 ambulances lined the street, waiting to be waved in to pick up patients from NYU Langone Medical Center. “Every 4 minutes a patient comes out and an empty ambulance pulls up. The lobby of the Medical Center is full of hospital personnel, family members, and patients,” Haskell reports.


The patients were moved to a number of area hospitals and according to officials at NYU, the receiving hospitals would notify family members.


Sloan Kettering Hospital spokesman Chris Hickey confirmed to ABC News’ Gitika Ahuja that it is receiving 26 adult patients from NYU, at their request. Hickey said she didn’t know whether they had been admitted yet or what their conditions were.


NewYork-Presbyterian Hospital spokesman Wade Bryan Dotson said it is also accepting patients from NYU at both campuses, Columbia and Weill Cornell.


Meanwhile, ABC News affiliate WABC captured footage of patients being evacuated; among the first patients brought out of the hospital on gurneys was a mother and her newborn child.


On Monday morning, NYU Langone Medical Center had issued a press release that indicated the hospital’s emergency preparedness plan had been activated and that there were “no plans to evacuate” at the time.


Shortly after the reports of an evacuation at NYU Langone, city officials reported that a second major New York City hospital, Bellevue Hospital, was about to lose backup power due to a generator failure.


Requests for more information from NYU Langone Medical Center spokespeople were not immediately returned.


Health News Headlines – Yahoo! News



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