Today: Mostly cloudy and becoming windy. Showers at times. An afternoon high in the upper 50s to low 60s. An increasing North wind at 10-20mph.
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Deal recognizes Georgia Tourism Day, unveils 2013 Travel Guide
Gov. Nathan Deal joined Georgia tourism leaders today for the annual Tourism & Hospitality Day to spotlight the major contribution the industry makes to Georgia’s economy. Representatives from the tourism industry presented Deal with a check representing the $1.263 billion in state tax revenue generated from tourism-related expenditures in 2011.
“Georgia’s tourism industry is a main driver of our economy and employment with 10.3 percent of all jobs in the state directly or indirectly sustained by tourism activities,” said Deal. “The tourism industry has a positive effect on nearly every community in Georgia.”
Deal also unveiled the new 2013 annual Georgia Travel Guide. This full-color, magazine-size guide features the city of Senoia on dual covers. Twenty-five miles south of Atlanta, Senoia offers visitors a contemporary and modern feel with the authenticity, heritage and hospitality of the South. Highlighting the growth and importance of Georgia’s entertainment industry, Senoia has been the backdrop to more than 25 movies and television shows. Downtown Senoia is currently the filming location for the most watched drama in basic cable history “The Walking Dead.” Not only has this small town been seen around the world on the silver and small screens, but musician and Georgia native Zac Brown, recently opened Southern Ground Social Club, a combination restaurant, store and live music venue in downtown Senoia. The guide provides visitors with information on Georgia’s tourism assets including trip ideas, attractions, accommodations, events and more. 750,000 guides are distributed through the state’s 11 Visitor Information Centers, www.ExploreGeorgia.org, travel and trade shows and 1-800-VISIT GA. The Georgia Department of Economic Development partnered with Emmis Custom Publishing (publisher of Atlanta Magazine) on the state’s official travel guide.
“Tourism generated $49 billion, an increase of 8.9 percent, in business sales, including indirect and induced impacts,” said Kevin Langston, deputy commissioner for tourism for the Georgia Department of Economic Development. “Georgia now ranks seventh in the U.S. in both travel-generated employment and travel expenditures, second only to Florida in the Southeast.”
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Last Update on October 31, 2014 07:28 GMT
SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.
Other Asian stock markets were also higher after the Japanese central bank's announcement Friday. The dollar rose 1.2 percent to 110.64 yen.
The bank said it would increase its asset purchases by between 10 trillion yen and 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually.
The Nikkei was up 4.6 percent at 16,380.11 after shedding some of its initial gains. Hong Kong's Hang Seng rose 1.2 percent and Seoul's Kospi was up 0.1 percent.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Today. the Commerce Department will release its September report on consumer spending, which accounts for 70 percent of economic activity in the U.S.
Also, the University of Michigan will issue its monthly index of consumer sentiment for October. In September, the index reached its highest level since July 2013, led by greater optimism that the economy will grow and incomes will rise.
The Labor Department will also release the third-quarter employment cost index.
Before the market opens, Exxon Mobil will report its quarterly financial results.
NEW YORK (AP) -- Citigroup is slashing its third-quarter earnings by $600 million, saying that recent investigations by regulators have altered the results it reported earlier this month.
The New York-based bank on Thursday revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.
The bank's operating expenses rose from $12.36 billion to about $13 billion.
The company said in a statement the unexpected increase came from "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters."
Citi previously reported third-quarter net income of $3.44 billion, or $1.07 per share, on Oct. 14. The results exceeded Wall Street estimates.
Like other major banks, Citigroup has been the target of lawsuits and government investigations for its role in the mortgage meltdown that helped spur the financial crisis of 2008.
SURGICAL GOWNS LAWSUIT
LOS ANGELES (AP) -- A lawsuit says Kimberly-Clark Corp. falsely claimed its surgical gowns met the highest standards for protecting against Ebola and other infectious diseases.
Lead attorney Michael Avenatti says the Texas hospital where two nurses contracted Ebola used to stock the gowns but it's not clear if the nurses had used them.
The $500 million fraud suit was filed Wednesday in federal court in Los Angeles on behalf of a surgeon who wore the gowns.
The lawsuit says Kimberly-Clark knew for a year that the gowns failed industry tests and allowed the transfer of bodily fluids, bacteria and viruses, but the company still promoted them as having the highest level of impermeability.
The maker of Kleenex and other consumer products says it doesn't comment on lawsuits but stands behind its products' safety.
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