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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Red Cross East Tennessee Names New Regional CEO
Michelle Hankes has been named Chief Executive Officer of the American Red Cross East Tennessee Region, which has oversight of the nonprofit’s operations in 36 counties. Her first day will be July 8, 2013.
Hankes, the previously President and CEO of United Way of Blount County, comes to the Red Cross after many years of nonprofit experience and is highly respected throughout East Tennessee. She holds a Master’s Degree in education from the University of Iowa, and a certification in nonprofit management from Iowa State University.
“We are very excited that Michelle has chosen to join the American Red Cross and are confident she will provide outstanding leadership,” said Mary Ann Mulhern, American Red Cross Tennessee Mountain Valley Interim Board Chair.
“I am honored to accept this position and excited to be with the Red Cross,” Hankes said. “I look forward to engaging with our community leaders and working with our volunteers and staff across East Tennessee to help make a difference in the lives of those we serve.”
Hankes has been active in several community organizations including serving on the boards of the Blount County Chamber, Blount County Chamber Foundation, the Blount County Public Library, Blount County Newcomers Club, and the Tennessee Access to Justice Committee among others. She was a Leadership Blount graduate in 2009, was named one of the Knoxville Area’s 40 under 40 in 2011 and was a nominee for the 2013 Blount County Athena Award.
She is married with two children and has family in the Maryville area.
Red Cross East Tennessee Names New Regional CEO
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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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