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Susan Smith-Harmon

Susan Smith-Harmon

Ted Drewes Chippewa store to reopen after small fire

Monday, 11 November 2013 01:44 Published in Local News

   A beloved south city business will reopen this morning after fire forced it to close early Sunday.  

   Employees at the Ted Drewes Frozen Custard stand on Chippewa called firefighters about 1:00 p.m. after smelling smoke.  Fire crews discovered a small electrical fire that apparently started in the attic. It was quickly extinguished. 

   The iconic building sustained smoke and water damage.  Crews spent the rest of the day Sunday cleaning up the mess and company officials say it will reopen at 11 a.m. Monday.

   The water in some parts of Edwardsville may be a little brown, but it's still safe to drink.  That's the message from Public Works Director Tim Harr.  

   He says a break in a 14 inch transmission line caused workers to reroute water city-wide and that may have stirred up sediment.  As a result, about a thousand of the more than 9,000 water customers in Edwardsville, including the Public Works Department, are seeing discolored water from their taps.  

   Harr says the water is safe to drink. "We’ve tested it," he said.  "The chlorine residuals are where they’re supposed to be, within the epa regulations.  It doesn’t taste funny.  It just looks a little funny with the sedimentation."

   Harr says city workers opened 4-5 hydrants Wednesday to help flush the system and it might help if residents run their own taps 10-15 minutes to flush the lines.

World markets cautiously await key US data

Thursday, 07 November 2013 03:50 Published in National News

   KUALA LUMPUR, Malaysia (AP) — Global stock markets were mostly weaker Thursday, with a cautious mood prevailing ahead of key U.S. data that will provide further clues on when the Federal Reserve will cut monetary stimulus.

   Major European benchmarks were muted in early trading. Britain's FTSE 100 fell 0.3 percent to 6,724.16 and France's CAC-40 added 0.1 percent to 4,290.43. Germany's DAX gained 0.1 percent to 9,047.30.

   Futures pointed to a weaker open on Wall Street where Twitter will start trading following an initial public offering that valued the social network at $18 billion. S&P 500 and Dow Jones futures were both down 0.1 percent.

   Stan Shamu, market strategist for IG in Melbourne, Australia, said investors are staying on the sidelines ahead of the release of the advance estimate of U.S. third quarter economic growth later Thursday and October jobs figures on Friday.

   Both reports could signal how much longer the Federal Reserve will continue its bond purchases at the current $85 billion a month rate. That program has held down interest rates, kept bond yields low and made stocks more attractive for investors.

   Market expectations are also growing that the European Central Bank and the Bank of England may disappoint and not cut interest rates at policy meetings Thursday to shore up a recovery from recession, he said.

   "With two central banks, a U.S. GDP and jobs report all due out, we were always bound to see some nervous trading," Shamu said.

   DBS Vickers in Hong Kong said in a market commentary that the ECB is likely to put off a rate cut amid a pick-up in production and confidence, but it may open the door for possible easing in December when it releases its quarterly economic projections,

   Earlier in Asia, Japan's Nikkei 225 shed 0.8 percent to 14,228.44 and Hong Kong's Hang Seng lost 0.7 percent at 22,881.03. China's Shanghai Composite fell 0.5 percent to 2,129.40 and Seoul's Kospi dropped 0.5 percent to 2004.04.

   Benchmark crude for December delivery was down 17 cents at $94.63 in electronic trading at the New York Mercantile Exchange. The contract rose $1.43 to close at $94.80 a barrel on Wednesday.

   The euro rose to $1.3520 from $1.3510 late Wednesday. The dollar was little changed at 98.68 yen.

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