David Beckham selects Miami for new MLS franchise
David Beckham has chosen Miami as the location for the Major League Soccer team he intends to set up.
The former England captain is thought to be able to buy the US franchise for a discounted $25m (£15.6m) from MLS.
The 38-year-old's option to purchase a franchise is believed to be part of the financial package he negotiated when he joined LA Galaxy in 2007 as a player.
Beckham said he was "excited" by the prospect of Miami when he visited Florida in June.
Any deal has yet to be finalised but 12 potential investor groups from around the world are said to have made contact with the former Manchester United, Real Madrid and AC Milan midfielder, who retired in May after making 10 appearances for his final club Paris St-Germain.
There are currently 19 teams in MLS, but the league hopes to expand to 24 by 2020.
Tiger Woods dropped by EA Sports
Tiger Woods has been clubbed into the long grass by EA Sports after the games manufacturer ended its association with the world's most famous golfer.
Woods, 37, won the last of his 14 major titles back in 2008, but this year returned to world No.1 after replacing Rory McIlroy at the top of the rankings.
There were 14 editions of the video game bearing his name, which was played by millions of golf fans across the world.
Writing on EA's official website, the company's vice-president and general manager Daryl Holt commented: "EA Sports and Tiger Woods have made a mutual decision to end our partnership, which includes Tiger's named PGA Tour golf game. We've always been big fans of Tiger and we wish him continued success in all his future endeavors.
Gatorade, AT&T and Accenture and Tag Heuer all withdrew sponsorship or did not renew their deals following the revelations of Woods' infidelity and subsequent divorce from Elin Nordegren -- costing him $20 million in earnings.
Source-ESPN
Miami Heats beat the Chicago Bulls
About 30 minutes before the start of Tuesday's game, Miami city police officers surrounded a table at midcourt that contained the Heat's championship rings.
It wouldn't be long before LeBron James and his teammates formed a similar barricade around Derrick Rose to restrict access to the rim in his first NBA regular-season game following 18 months of recovery from major knee surgery.
The Heat were not emotionally overwhelmed by their rings nor the return of Rose on the way to building a 25-point lead en route to a 107-95 victory at American Airlines Arena. This was more than a welcome-back moment on a marquee stage for Rose. It also served as a reality check.
LAKERS BEAT THE CLIPPERS
Shock were the faces of many after the Lakers games between the Lakers & Clippers.
Xavier Henry scored a career-high 22 points, Jordan Farmar added 16, and five Los Angeles Lakers reserves surged past the Los Angeles Clippers in the fourth quarter for a surprising 116-103 victory in both clubs' season opener Tuesday night.
With Kobe Bryant watching in street clothes behind Pau Gasol and Steve Nash on the Lakers' bench, Jodie Meeks scored nine of his 13 points in the fourth quarter as the Lakers stunned their Staples Center rivals in Clippers coach Doc Rivers' debut.
The Lakers did it down the stretch with a lineup comprised entirely of backups - including three who weren't on the team last season. Henry, the former first-round pick who burned out in Memphis and New Orleans, scored 12 points in the fourth quarter while leading a decisive 28-8 run.
The reserves were led by Farmar, the two-time NBA champion guard who returned to the Lakers from Turkey this summer, and Henry, who impressed the Lakers throughout training camp.
Coach Mike D'Antoni suggested the Lakers will use 11 players many nights to counteract Bryant's absence and Nash's fragile health - and the early results of that plan were awfully encouraging.
Clippers Blake Griffin scored 19 points and Chris Paul had 15 points and 11 assists.
Celebrity Adam Levin from the Voice tweeted that he was jumping up and down after the win while Jackson Nicolson grinned and whistled as the Lakers pulled away in the 4th.
Radio Turks & Caicos Launches Blackberry App On November 1, 2013
Radio Turks & Caicos will officially launch their blackberry App on November 1, 2013.
The App was developed with the approval of BlackBerry developer RIM on Monday October 28th, 2013 and brings RTC FM live on BlackBerry APP, making the station truly mobile as it offers News, Sports, Entertainment, Weather, classified adverts and an event calendar among other special features on the go.
Director of RTC Chris Jarrett said in a statement issued on Wednesday October 30: "the BBM app will be available for free download for all Blackberry smartphones and works nicely on the Curve, Bold & Z10 to name a few.
The APP will come on stream at 10:19pm in the TCI (10:19p.m. European Time) on November 1st. The team tied the APP's on air debut with the numbers in the frequency 101.9fm.
To download the APP to your Blackberry phones, users will have to log onto www.rtc107fm.com and scan the RTC QR code to activate the app.
The RTC APP will also feature the stations twitter posts and facebook posts and will offer a special surprise for the party goers on thanksgiving day November 28th.
"With more than a billion BlackBerry smartphones in the market worldwide, this is first APP of its kind in the Turks & Caicos offered by a radio station. This is absolutely the right time to bring an APP to the market, as the man on the go wants to be connected to his radio at all times,” Jarrett said.
"More & More you are seeing the young and old sporting a BB phone in the TCI and while BB is facing challenges in the stock market, its a must have phone for the TCI,' said RTC Team member and the station's assistant director Lynette Thomas. She predicts that while phones come and go, Blackberry will be around for a long time and so will this app.
The BB APP is a part of RTC's celebration of over 40 years of broadcasting, with still more to come.
Bahamas To Introduce Value Added Tax
The Bahamian Government has announced that it will introduce a value-added tax (VAT), to broaden the tax base, from July 1, 2014.
The Government explained that VAT is to be introduced to offset the eventual reductions to import duty rates that will accompany the Bahamas' accession to the World Trade Organization, and to begin to consolidate the territory's finances.
From July 1, 2014, the Bahamas will apply a 15% VAT to a broad range of goods and services - the median rate in other Caribbean territories that have implemented VAT.
VAT will replace the Hotel Occupancy Tax, but a concessionary rate of 10% will apply to the business of hotels, including food and drink sold on their premises.
Excise duties will fall by around 15% on goods that will be subject to VAT when the regime is introduced.
A zero rate will apply to exports and the international transport of goods and passengers. Exempt goods and services will include:
• Food and agricultural products that benefit from duty-free status under the Tariff Act;
• Other imports that benefit from the same, aforementioned status;
• Health and education services;
• Transfers of leases of land and residential buildings;
• Financial services;
• Social and community services.
VAT filing and payment will be required on a monthly basis, and the VAT threshold will be set at USD50,000 - requiring 3,800 local businesses to register to collect and remit VAT revenues to the Government.
Rabobank fined $1bn over Libor
Dutch bank Rabobank says it has agreed to pay fines of 774m euros ($1bn; £662m) imposed by US, UK and Dutch regulators over the Libor interest rate-fixing scandal.
The bank added that its chief executive, Piet Moerland, had stepped down.
Libor rates are used to set trillions of dollars of financial contracts.
These include many car loans and mortgages, as well as complex financial transactions around the world.
Regulators have been investigating the manipulation of Libor inter-bank lending rates since 2012 in the wake of Barclays' £290m ($454m) fine by US and UK authorities.
A string of international banks have been implicated in the affair, while several criminal charges have been brought against traders.
Nokia telecoms division profits down by a third
Operating profit at Nokia's telecoms solutions and networks - its main business once its phones division is sold - fell 33% in the third quarter to 218m euros ($300m; £186.6m).
The Finnish firm forecasts the business's profit margin will rise sharply next quarter to 12% from 8.4%.
That lifted its shares by 6%.
Sales of its Lumia smartphones rose 19% to almost nine million units. They will be sold with the rest of the phones division to Microsoft early next year.
The US tech giant is paying 5.4bn euros in the deal.
Sales of Nokia's basic mobile phones rose 4% to 55.8 million units.
Core operating profit at Nokia's telecoms solution and networks business was down from 324m euros in the same period last year.
Once the mobile business changes hands, Nokia will continue to license its patents and mapping services to Microsoft.
About 32,000 Nokia employees will transfer to Microsoft.
Nokia has fallen behind rivals Samsung and Apple, while critics say Microsoft has been slow into the mobile market.
US shares hit fresh all-time highs
US shares hit fresh all-time highs on Tuesday, ahead of the conclusion of a Federal Reserve meeting that is expected to see economic stimulus measures maintained.
On Wall Street the Dow Jones closed up 111 points at 15,680 - beating the previous high set in September.
The Nasdaq was up 12 points at 3,952, just short of its March 2000 record.
The S&P 500 closed at a fresh high of 1,772, after gaining almost 10 points in the day's trading.
US traders broadly expect the US Fed to keep its programme of quantitative easing in place for several more months, and analysts say the economic indicators support that view.
The level of support provided to the economy by the Fed has become a significant factor in market sentiment in recent months.
Any sign that the economic recovery is stumbling is taken as an indication that stimulus measures will be kept in place, and will not be gradually tapered.
"The Fed has been pretty clear about making decisions dependant on data and the data the Fed has received since the last meeting have certainly not been upbeat," said Art Hogan, head of product strategy equity research at Lazard Capital Markets.
"So therefore making a move towards tapering would be difficult to explain."
On Monday, figures suggested US manufacturing output barely rose in September, while contracts to buy previously owned homes recorded their largest drop in nearly three and a half years.
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That period does not cover the recent US government shutdown, which is also expected to have hit economic growth.
India raises interest rates for the second month running
India's new central bank governor has raised interest rates for the second consecutive month by a quarter of one percent to 7.75% to try to fight inflation.
The move applies to the benchmark repo rate - the rate at which the central bank lends to commercial banks.
The cash reserve ratio - the percentage of banks' deposits they must keep in cash - has been kept unchanged.
India's inflation hit a seven-month-high annual rate of 6.46% in September.
"The policy stance and measures ... are intended to curb mounting inflationary pressures and manage inflation expectations in a situation of weak growth," bank chief Raghuram Rajan said in a statement.
"It is important to break the spiral of rising price pressures in order to curb the erosion of financial saving and strengthen the foundations of growth," he said.
India's main share index rose 0.20% to 20,611.27 points after Mr Rajan's announcement.
Mr Rajan, who took over as the head of the central bank in September, surprised markets by raising interest rates in his first monetary policy meeting.
India's economy has been hurt by a range of factors in recent months.
A slowdown in key sectors such as mining and manufacturing has curbed its growth rate.
At the same time, foreign investors have pulled out money from the country because of the government's failure to enact key reforms, as well as improving economic conditions in the US.