Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
Dow 12,980.60 +41.89 0.32%
S&P 500 1,361.19 +3.53 0.26%
Nasdaq 2,950.32 +17.15 0.58%
Ticker Volume Price Price Delta
STOXX 50 2,508.08 -10.92 -0.43%
FTSE 100 5,937.89 +21.34 0.36%
DAX 6,809.46 -34.41 -0.50%
Ticker Volume Price Price Delta
Nikkei 9,595.57 +41.57 0.44%
TOPIX 829.35 +3.95 0.48%
Hang Seng 21,381.00 -168.29 -0.78%
Gold 1,786.70 +0.87%
EUR-USD 1.3305 0.4251%
Nasdaq 2,950.32 +0.58%
Dow 12,980.60 +0.32%
S&P 500 1,361.19 +0.26%
FTSE 100 5,937.89 +0.36%
STOXX 50 2,508.08 -0.43%
DAX 6,809.46 -0.50%
Oil (WTI) 106.66 +0.36%
U.S. 10-year 2.028% +0.026
BAC:US 8.03 +0.94%
8411:JP 132.00 +1.54%
Live TV

Aquino Takes Responsibility for Bus Siege That Killed 8 Hong Kong People

Philippine President Benigno Aquino said today he takes full responsibility for the outcome of the bus siege that killed eight members of a Hong Kong tour group.

“At the end of the day, I’m responsible for everything that has transpired,” in part because he retained direct control of the police when he formed his government in June, Aquino told reporters in Manila. “What happened last week was a wake-up call for our security agencies.”

The eight Hong Kong residents died during a bloody standoff on Aug. 23 when an armed former police officer seized their bus and demanded his job back. Aquino, who was elected in May pledging to improve economic growth by doubling tourism and curbing corruption, is under fire for the handling of the 12- hour siege.

Hong Kong Chief Executive Donald Tsang said after the standoff that he was disappointed with the way the “major tragedy” had been handled, adding he hadn’t been able to get through to Aquino on the telephone at the time.

“The president owning up to this is just one thing,” said Eman Villanueva, secretary-general of the United Filipinos in Hong Kong, an alliance representing thousands of Filipinos who work in the city, many as domestic helpers. “I think the one directing the ground troops on that day has to be identified.”

Leave of Absence

While no one has resigned or been fired, Manila Police Director Rodolfo Magtibay, the ground commander during the siege, is on a leave of absence.

Interior Undersecretary Rico Puno today said Aquino summoned him to his office to help monitor the situation even if he was “ not capable of handling hostage situations.” Manila Mayor Alfredo Lim said he set up the war room in a restaurant s because he hadn’t eaten yet, hampering his ability to monitor the situation because the establishment didn’t have a TV.

The bus siege may cut earnings of the Philippine tourism industry by $70 million and may scare away about 100,000 tourists from Hong Kong and China, Philippine Star reported on Sept. 1, citing Tourism Secretary Alberto Lim.

To contact the reporter on this story: Joel Guinto at jguinto1@bloomberg.net; Cecilia Yap at cyap19@bloomberg.net

Sponsored Links

Headlines