viktorg7

323

2011-07-19T02:09:00.001-07:00

H.323 is a recommendation from the ITU Telecommunication Standardization Sector (ITU-T) that defines the protocols to provide audio-visual communication sessions on any packet network. The H.323 standard addresses call signaling and control, multimedia transport and control, and bandwidth control for point-to-point and multi-point conferences.[1]
It is widely implemented by voice and videoconferencing equipment manufacturers, is used within various Internet real-time applications such as GnuGK and NetMeeting and is widely deployed worldwide by service providers and enterprises for both voice and video services over IP networks.
It is a part of the ITU-T H.32x series of protocols, which also address multimedia communications over ISDN, the PSTN or SS7, and 3G mobile networks.
H.323 call signaling is based on the ITU-T Recommendation Q.931 protocol and is suited for transmitting calls across networks using a mixture of IP, PSTN, ISDN, and QSIG over ISDN. A call model, similar to the ISDN call model, eases the introduction of IP telephony into existing networks of ISDN-based PBX systems, including transitions to IP-based PBXs.
Within the context of H.323, an IP-based PBX might be a gatekeeper or other call control element which provides service to telephones or videophones. Such a device may provide or facilitate both basic services and supplementary services, such as call transfer, park, pick-up, and hold.
While H.323 excels at providing basic telephony functionality and interoperability, H.323’s strength lies in multimedia communication functionality designed specifically for IP networks.

With this number I was dreaming all night.

Barroso, who’s lying?

2010-08-15T03:49:00.001-07:00

Barroso, who’s lying? Your Majesty, again rains the some confusion over who owes what to who? That the promise yet to be delivered on? If you want to ask me: ‘Are you proud of the people around me?’ Are you glad to know them and happy to be in their company?’ I’ll for sure tell you, - No. Unnecessary to remember that even the most wonderful folk, - annoy each other from time to time. If I feel attracted to someone really good, - I can resist even to you, and to yours cold-hearted charms, and you know it. Our relationship isn’t perfect. Because of money, and why the Barroso sleep and dream to see me out of this Planet. No arrangement is possible or is ever ideal. But look, in our heart, we all know the difference between a minor irritation and the major source (like the EU –UK) incompatibility. Only you can decide which of the two it is. Personally, if you think it’s not a big deal, it may be better to move on than to keep trying to move a mountain. The last thought, - I may find yet that I can (should), in my “sort” of way to handle this happily…

Jewellery stolen from two London stores. Sunday, August 15 08:39 am. Jewellery was stolen in a smash-and-grab raid from two shops at an exclusive shopping centre, police have said. Burglars broke into De Beers and Omega at the Royal Exchange in the City. City of London police said they did not yet know the value of the stolen jewellery. A spokesman said: "Just after 10pm last night De Beers and Omega were broken into at the Royal Exchange and a burglary took place. "Police are now investigating the incident." The Royal Exchange, built in 1565, is located between Threadneedle Street and Cornhill and boasts more than 30 luxury stores.

Filha do milionário Tomé Feteira diz que Duarte Lima terá recebido 5 milhões

2010-08-11T01:47:00.001-07:00

Filha do milionário Tomé Feteira diz que Duarte Lima terá recebido 5 milhões
Wednesday 11/08/2010. Money was in Switzerland and have been transferred to the lawyer's bill by Rosalina Ribeiro, who was murdered in December. The daughter of Lucius Thomas Fern, the Portuguese trader who died ten years ago and whose fortune has been partly diverted by the former secretary and companion (though murdered at the end of last year, in Brazil), said yesterday the public that the lawyer Domingos Duarte Lima will have received in 2001 in five transfers, more than 5.2 million.That money, according to the daughter of the entrepreneur, may be part of the many millions who disappeared from his father's accounts in Switzerland. "I do not know if Lima Duarte was a lawyer Rosalina [Rosalina Ribeiro was the secretary of Fern Thomas for about 30 years] because I never saw him in court. What I know is that Rosalina pulled out all the money, either in Switzerland or in England either in the United States, and made transfers to Lima Duarte, "said Fern Olympia. The heir to the industry, died in 2000, finds it odd that the lawyer could receive fees in excess of 5.2 million euros (this is the sum of five transfers from banks in Switzerland) and ensures that there is much more money diverted from other accounts and other countries. "For now I do not want to dwell too much on the subject, since we [the family Fern and their attorneys] to finalize a communication in this case," said Fern still Olympia. After the death of Lucius Thomas Fern popped the controversy concerning the inheritance. Rosalina Ribeiro will have lost an action in a Brazilian court, where he claimed part of the fortune is supposed to have lived maritally with the businessman.However, the court gave no reason. The daughter of businessman wanted since then to know why the father's accounts were handled by his former secretary and questioned the fate of the money that is not possible, for now, count should exceed 30 million. The December 7 last year, Lima Duarte, who represented Rosalina Ribeiro, moved to Rio de Janeiro to have a meeting with her work. In principle they would handle issues related to the assets of the former secretary. Have dined together, and 15 minutes after they had separated in a deserted spot where Rosalina will request to be taken, the woman, 74, was eventually shot. He died with two bullets in the chest and one in the head. The gun used was a .38 caliber revolver, the same as the Mafia uses in its crimes.Also the shots (all fatal and one addressed to the head) suggest, somehow, the mode of action of the same conspiracy. Lima Duarte stated that only came to have knowledge of the death of Rosalina December 21, at a time that was already in London and was preparing to travel to Hong Kong. Then, as told PUBLIC sent a written statement to the police in Rio de Janeiro explaining all the steps that gave the victim the day it was killed. The PJ has made several efforts in Switzerland to try to find out what drives the money of Thomas Fern. After numerous requests and correspondence have been established that will have been Rosalina who handled the money and that it will have been partially remitted to an account of Duarte Lima. In April 2001 there was yet another shipment of 1.1 million euros, which have been made to the account of a man not yet fully identified. THE PUBLIC has made several efforts to collect testimony from Lima Duarte, without, however, no call has been answered or that the questions submitted electronically have been answered. On Monday, by telephone, former member of the PSD had said could not dwell on the process since it is under investigation.

The European natural gas market

2010-08-04T01:40:00.001-07:00

The European natural gas market as being driven by three components – a) economic development, b) substitution from coal and nuclear to natural gas for electricity generation, and c) weather. Substitution from coal and nuclear could be what now primarily drives European demand for natural gas.
• It is projected that between now and 2020; Europe will need to develop additional natural gas supplies of approximately 120 – 150 Gcm/a (thousand million cubic meters per year) from more distant sources, if demand as projected by EIA and IEA is to be met.
• As of 2009 Europe obtained approximately 47% of its natural gas supplies from distant sources; this is projected to grow to more than 70 % by 2020.
• Europe’s growing dependence on natural gas from more distant sources may also impact its future policies to ensure security of energy supplies.
• If additional supplies fail to appear, Europe could see an imbalance in natural gas supply and demand starting as early as 2011/2012.
EU and Norway’s collective proven natural gas reserves appear to have peaked in 2001 and have since been in decline. As of end of 2009, the Netherlands held around 75 % of EU’s proven natural gas reserves.

Warsaw pulls signing gas agreement with Moscow. Wednesday, 04 August 2010. 5:47. WARSAW, Aug. 4. Poland should be "a little more time" to set the optimum form of additions to the gas agreement with Russia. According to ITAR-TASS news agency, told a press conference, Prime Minister Donald Tusk. "We will try to optimize the solution so that gas from Russia needed the Polish economy and consumers, was possible and cheaper to make our relationship (under contract) are flexible," - he said. "We do not rule out that the agreement will be signed in the form of which we have already agreed," - added the Premier. Terms of additions to the gas agreement with Russia from 1993 on increased supplies of natural gas to 10.3 billion cubic meters per year and extend the contract up to 2037 have been agreed between Russia's Gazprom and the Polish gas company PGNiG few months ago. In April, long-term supply agreement was reached during a meeting of the prime ministers of two countries, but the intergovernmental agreement has been signed. According to Tusk, is due to the necessity of compliance with the contract law of the European Commission, which has criticized some of his points, as well as doubts about the Polish expert on long-term time frame agreements and gas prices. "We do not want to make a mistake" - he said. Polish Minister of Economy Waldemar Pawlak, who was responsible for signing the contract and declared that "it is a matter of weeks, has transferred its powers in this matter to Foreign Minister Radoslaw Sikorski republic. According to him, such a decision due to the fact that the document "has acquired an international dimension." How to declare local experts by October Poland will spend the entire amount of natural gas specified in the contract with the Russian side for this year and will face difficulty in securing its energy consumers in the winter. Earlier, the President of Poland Bronislaw Komorowski said that the republic will be able to refuse to supply gas from Russia, if it finds itself in sufficient supplies of shale gas. According to him, the first well in Poland will be ready in a few months. Assessment of shale gas will take several years. Poland require 14 billion cubic meters of gas annually, two thirds of this amount it receives from Russia. Earlier, the representative of the Ministry of Economy of Poland, warned that Warsaw may be left without Russian gas in October, if not sign the treaty in the coming months.

EU Seeks Turkmen, Azeri Gas Pact to Reduce Russia Dependence. Aug 3, 2010. The European Union is seeking an agreement on a natural-gas pipeline between Turkmenistan and Azerbaijan as the 27-nation bloc aims to import Caspian fuel and reduce its dependence on Russia. The EU regulator’s energy unit drafted a document the parties could use as the basis for a deal on building at least one pipeline across the Caspian Sea, according to a copy of the non-binding paper obtained by Bloomberg.
The EU, seeking less reliance on Russia, wants Turkmen gas for the proposed Nabucco pipeline. Turkmenistan, where foreign investment was held back until the 2006 death of isolationist President-for-Life Saparmurat Niyazov, ships gas to Russia and Iran, and opened a pipeline to China last year. Plans to build a link across the Caspian Sea have been frustrated by unresolved marine borders and opposition from Russia and Iran. “Without Turkmen gas, Nabucco wouldn’t make sense,” said Alexander Rahr, a Russia and Eurasia expert at the German Council on Foreign Relations in Berlin. “The EU is trying to get this pipeline through, but they’re running out of time as the Turkmen are sending more gas to China.”
Azerbaijan attended an EU-hosted meeting in Brussels with Turkmenistan and no agreements were signed, said Vagif Aliyev, head of investment at The State Oil Co. of Azerbaijan. Marlene Holzner, a spokeswoman for the European Commission’s Directorate-General for Energy, declined to comment on the document. Phone calls to Turkmenistan’s department of foreign economic relations went unanswered.
No Concrete Proposal. Azerbaijan has yet to receive a concrete proposal from Turkmenistan, holder of the world’s fourth-largest gas reserves, Aliyev said by phone from Baku. “We are ready to provide transit for Turkmen gas,” he said. The EU must get “serious” about Nabucco to compete with Russia’s OAO Gazprom for Caspian natural gas, Azeri President Ilham Aliyev said in January. Nabucco lacks a clear leader able to attract the necessary financing or hold talks with suppliers and transit countries, Aliyev said.
“The European Commission is showing that a way can be navigated through this tangle of countries and we actually are in the course of doing so,” EU Energy Commissioner Guenther Oettinger said in a copy of a July 27 speech the regulator posted on its website. “We may need extraordinary measures to achieve success, such as the Caspian Development Corporation or the building of a trans-Caspian pipeline link.”
Optimal Use. Turkmenistan and Azerbaijan would have to assure that the owner of the link maintains optimal use of the asset subject to market conditions, according to the draft document. The owner wouldn’t be able to refuse to offer free capacity or reject requests to use available capacity, according to the paper, which does not specify the capacity or route of the pipeline. The two governments would have to consult one another before designating entities that can request to use the pipe, the energy department’s draft said. The link could be used to transport gas in either direction, according to the document. After Niyazov’s death, governments from the EU to Asia jostled for access to Turkmenistan’s gas reserves, estimated at 8.1 trillion cubic meters by BP Plc. That’s enough to meet current German demand for more than a century. Russia wants Turkmenistan and Kazakhstan to build a new gas pipeline along the Caspian coast to keep control over the former Soviet republics’ energy exports. Iran has presented an alternative plan envisioning a network of shipping routes and pipelines that would turn the country into a regional hub for Caspian energy exports. East-West Link. Turkmenistan is building a $2 billion East-West pipeline that will carry about 30 billion cubic meters of gas from the country’s biggest fields toward the Caspian coast when opened in June 2015 as it seeks to increase fuel exports.
The 7.9 billion-euro ($10.4 billion) OMV AG-led Nabucco pipeline is planned to stretch more than 3,300 kilometers (2,050 miles) from Turkey to Austria to send gas to Europe and reduce the region’s dependence on Russia. Nabucco is also seeking to source gas from Azerbaijan and Iraq. The Nabucco partners, which also include Essen, Germany- based RWE AG, Budapest-based Mol Nyrt., Bulgargaz EAD, Romania’s Transgaz SA and Ankara-based Botas, have said they’ll decide on the investment by the end of this year. Construction is set to begin in 2011 and shipments may start at the end of 2014, according to the venture’s website. While Nabucco welcomes increased support from the EU for a southern gas corridor, the venture doesn’t have any formal knowledge of efforts to push for an Azeri-Turkmen deal on a pipe between the countries, spokeswoman Gabriele Egartner said in an e-mailed response to questions.
Sub-soil Jurisdiction. The proposed framework isn’t to be interpreted as affecting Azerbaijan or Turkmenistan’s jurisdiction over sub-soil resources or their sovereign rights under international law to the Caspian Sea, according to the document. The delineation of the Caspian Sea became an issue after the 1991 breakup of the Soviet Union, when Iran found itself with four neighbors on the body of water instead of one. “We think that defining the borders is not the main problem blocking such a project,” Vagif Aliyev said. The main issue is coming up with a commercial project that will be profitable to investors, he said. “We, as investors, are not ready at this moment.”

BP agrees to sell Colombian business to Ecopetrol. Wednesday 4th August, 2010 BP has agreed to sell its oil and gas exploration business in Colombia. The company has announced the sale for $1.9 billion to a consortium of Ecopetrol, Colombia's national oil company, and Talisman of Canada. BP recently announced plans to sell a number of worldwide assets to help cover the costs from the Gulf of Mexico oil spill. It has said it needs to raise around $30 billion from assets. In the next round of sales, interests in Pakistan and Vietnam will also go.

The Councillor Troy from the 19_11 team.

2010-08-03T02:13:00.000-07:00

The Councillor Troy from the 19_11 team. If I run the show, how can I restore the ‘universal’ balance and harmony? The true is, - that I cannot just sit by (and still receiving hitting in my head) while the “friends”, “partners”, “co-workers” and those in “authority” try to rule the roost. And me, yours stupid ass, dauntingly moving (very secretly) simultaneously – the “house” and the all folks? In and out? You know, it happens to me before, that theirs (those in “authority”) bark may be worst than their bite? Should I try to favour some victory, even if my “mum” is not my keeper? Or just carry on and bide “my time”? Be for four-five days in such rude way rushed, pushed, and angst-ridden had had a price… It does not just know that I’m still ‘in the running’. It’s a personal responsibilities’ which eventually bestow a certain leeway to don’t die in my uninterrupted sleep too.

1). Xstrata Profit More Than Triples, Beating Estimates, as Metal Prices Jump. Aug 3, 2010. Xstrata Plc, the largest exporter of coal used for power, said first-half profit more than tripled after metal prices jumped from a year earlier. Net income rose to $2.3 billion from $690 million a year earlier, the Zug, Switzerland-based company said today in a statement. That beat the $2.1 billion average estimate of five analysts surveyed by Bloomberg. Sales advanced 43 percent to $13.7 billion. Chief Executive Officer Mick Davis is spending $14 billion to expand output 50 percent by 2014, betting on a revival in metal and coal demand as the global economy recovers from last year’s recession. Metal prices were on average 66 percent higher in the first half than in the same period a year ago, according to a measure of six metals on the London Metal Exchange. “We remain very confident in the buoyant outlook for Xstrata’s commodities in the medium term,” Davis said in the statement. “In particular, I am encouraged by the outlook for thermal coal and copper, our two core commodities.” Xstrata rose 59.5 pence, or 5.9 percent, to 1,075 pence at the close of trading in London yesterday. The company will pay an interim dividend of 5 cents. Operating profit excluding exceptional items doubled to $3.2 billion, Xstrata said. The company is on schedule to meet the targeted 50 percent jump in output by 2014 after approving $8 billion in new projects in the first half, it said. Xstrata today approved the $4.2 billion Las Bambas copper project in southern Peru and the $1.1 billion Ulan West coal venture in Australia, the company said in separate statements. Last month Xstrata approved investment of $1.5 billion to develop the Antapaccay copper mine in Peru.

2). Kinross to buy Red Back Mining for $7.1bn. Traverse City, Michigan. August 3 2010 04:13. Kinross Gold of Toronto is set to take full control of Vancouver-based Red Back Mining in a deal valued at $7.1bn, broadening Kinross’s reach to west Africa, where Red Back’s operations are focused. Kinross said the agreed all-share acquisition would match its own high-quality mines and proven track record with Red Back’s early-stage projects and potential for expansion. According to Kinross, analysts expect the combined company’s annual gold production to reach about 3.9m ounces after Red Back’s two key projects in Ghana and Mauritania come on stream in 2015. In comparison, Barrick Gold, the world’s biggest producer, estimated last week that its output will total between 7.6m and 8.1m ounces this year.
The acquisition follows a well-worn pattern in the gold mining industry in which entrepreneurial exploration companies seek capital and expertise from more seasoned operators to develop their mineral deposits. Kinross took a 9.4 per cent stake in Red Back earlier this year. Tye Burt, chief executive of Kinross, said that “the significant upside in reserves that we believe exists at Red Back, and Kinross’s ability to accelerate that potential, makes this an outstanding prospect for shareholders of both companies”. Kinross currently has operating mines and exploration projects in Canada, the US, Brazil, Chile, Ecuador and Russia. Under the proposed deal, Red Back shareholders will receive 1.778 Kinross common shares and 0.110 of a Kinross common share purchase warrant for each Red Back share. Current Kinross shareholders will own about 63 per cent of the combined company. Lukas Lundin, Red Back’s chairman, and Richard Clark, chief executive, will join the Kinross board.

3). Kremlin advised Deripaska and Potanin share of Norilsk Nickel from a third party. Reuters 03/08/2010, 10:58. The Kremlin ordered prosecutors to understand the conflict of shareholders "Norilsk nickel "and suggested that Oleg Deripaska and Vladimir Potanin to share the property with a third party, excluding the participation of the state capital of the world largest producer of nickel and palladium, the Russian news agency quoted a source in the Kremlin. Owners blocking "Norilsk Nickel "- UC Rusal and Deripaska "Interros"Vladimir Potanin - quarreled for the third time in recent years after the shareholders 'Norilsk Nickel, which UC Rusal has lost one seat on the board of directors. Both sides want to buy packages from each other, but not out of hand, but as one of the options out of the situation, analysts and sources discussing the sale of shares to the state. ""Norilsk Nickel"- a private company. So in the future should be. The company must be in private hands "- link made in the Kremlin, Russian agency a source in the presidential administration. "theoretically optimal way would be buying a package by a third party. At the same time in the Kremlin believe that this should not be the state, including state corporation "Russian Technologies", - transmits "Interfax source said. RIA "News "wrote that President Dmitry Medvedev has received from Deripaska to set out its position in the conflict. "The President instructed the Prosecutor General's office investigate. No wonder there had been violations or not, each side has its own truth. But a large company, and not very good that there is such a serious conflict between the shareholders ", - quotes agency source.

4). Plane crash in Siberia in 1911 claimed the lives. Tuesday, August 3, 2010 8:14 MSD
MOSCOW (Reuters) - Eleven people died and four remain in hospital in the crash of passenger plane An-24 airlines KatekAvia that occurred on Tuesday night when landing at the airport Igarka Krasnoyarsk region, Russian news agencies broadcast. On board were 15 people - four crew and 11 passengers. As a result of the crash, according to latest figures, killed 11 people, including a child and hostess. According to investigators, the accident could have occurred because of heavy fog: "During the initial inquiry, and conducted the initial investigation revealed that on August 3 at 01.19 local time in the airport Igarka Krasnoyarsk Territory during landing because of heavy fog wrecked aircraft AN-24, following a flight number 9357 Airport Cheremshanka "Krasnoyarsk - Airport Igarka" - ITAR-TASS referring to the investigative committee of the Procuracy of the RF. The plane flew from Krasnoyarsk on Monday at 21:41 local time, in the crash, he burst into flames. The four survivors are in a plane crash in central Igarka District Hospital, among them police - flying Igarka on a business trip and three crew members - aircraft commander Nikolai Kozlov, Igor Kabanov copilot and flight engineer Eugene Pertunin. Their condition is satisfactory.

The nails.

2010-08-02T02:32:00.001-07:00

I can start with Galp Energia. The guys who want sale the part of its gas distribution business. I can start with consumer’s price (again, - of the gas) which seriously jump from 1 of August in Ukraine. Or, how the Minregion (i.e. the Ministry of Regional Development) after the 20 years from the start of the TACIS and PHARE Programmes, - ‘resolve to do something’. To officialise a new rule by which the price of communal services (water and gas) for those who do not have meters, from 1 of January 2011 will grow by half, and in 2012 – four times. But, in any way, all this fuss are “they”, not the “us”. The “us”, don’t sleep all night from Friday to Saturday (30 to 31). IMPORTANT: I never experienced such big angst in my life. I try and can’t sleep because of uninterrupted biting and nightmares. Well, the biting is regular, like you know. But this time, the all dreams (after biting) – where of pure anxiety, worry, sorrow and fear. For many hours after wakeup, I was frightening and with heavy transpiration. All Saturday can’t compose my self! Doing nothing, just feeling amorphous, feeling paralyzed. I wrote in facebook one of the nightmares. Because they all were short and quite clear. Like the small messages. In one of them, I saw myself to giving money to the big snail. (To see others giving money away, suggests that you are feeling ignored, overlooked or neglected. Someone is not paying enough attention and showing enough affection toward you.) In the other, I’m with black Nicole Sarkozi in the garage (To dream that you are in a garage, signifies a period of inactivity and idleness in your life. You feel that you are lacking direction or guidance in achieving your goals.) She’s very smiley after ‘the rocket science’… Than, I try to put my boots on and see how they all full of nails. (To see nails in your dream, symbolize long and hard work for little compensation and pay. It may also be analogous to some rugged or tough force.). (Black symbolizes the unknown, the unconscious, danger, mystery, darkness, death, mourning, rejection, hate or malice. The color invites you to delve deeper in your unconscious in order to gain a better understanding of yourself. It also signifies a lack of love and lack of support.). Dam you the all Elizabeth the II of the world. I’m mortal. I’m not deity, mentalist, or guru. I’ve never pretend to be. If my writing are messing with you, who’s in key position, - say so! At least, - you know my numbers. I have no time, or health, or too many options to going fencing with you around. Save time for both of us.

Secret Haider-million discovered in Liechtenstein. © sueddeutsche.de - published on 07.31.2010 15:22 clock. Vienna (dpa) - The investigation into Hypo Group Alpe Adria now cast a new light on the financial policies of the late Austrian right-wing populist Joerg Haider. In the course of account openings in Liechtenstein front companies from twelve o'clock Haider was found, in which 5 million euros have been reserved, as the Austrian magazine "profil" reported on Saturday. According to current Ermittlungsstand to the property originally have amounted to € 45 million. Where the money comes from and who it to benefit in, a check according to the report today.Claudia Haider, widow of former Carinthian Governor told the press agency APA that they knew nothing of the accounts. Investigators from Austria, Germany and Liechtenstein are currently investigating possible cases of embezzlement, fraud and corruption around the sale of the now nationalized Carinthian Hypo Group at BayernLB in 2007, and a possible case of corruption around the Austrian ex-finance minister and Haider's friend Karl -Heinz Grasser. About Liechtenstein black money to decision-makers could have flowed. A total of 46 front companies in Vaduz and Schaan were opened. Money flows to political parties and politicians in Austria is difficult to understand.Larger donations must still be reported to the Court, but there are under wraps.Haider was known to his accident in 2008 for his extravagant lifestyle and expensive election campaigns.

Li Ka-shing buys EDF arm for £5.8bn. By Ed Crooks. Published: July 30 2010 00:10 | Last updated: July 30 2010 07:29. EDF of France is to sell its UK electricity networks business to Cheung Kong Infrastructure of Hong Kong for £5.8bn ($9bn) – 45 per cent more than the price originally suggested for the deal. The state-controlled French electricity group announced the sale with its half-year results on Friday morning. The deal at a stroke reaches the €5bn ($6.5bn) target the French utility set for disposals by the end of 2011. CKI, controlled by Li Ka-shing, the Hong Kong billionaire, outbid a consortium of Macquarie of Australia, the Abu Dhabi Investment Authority, and Canada Pension Plan. In EDF Networks, it has acquired low-voltage electricity distribution networks in the east and south of England, and long-term contracts with businesses such as the London Underground, Heathrow and Gatwick airports, and the Channel tunnel. Vincent de Rivaz, EDF’s chief executive in the UK, had previously opposed the sale plan, arguing that the networks business had great potential for the development of “smart grids”, using information technology to save energy and make it easier for customers to generate their own power. The sale was proposed under Pierre Gadonneix, the previous EDF group chief executive, and for months it was unclear whether Henri Proglio, who succeeded him last year, would go through with it. The attractive price offered – well above the threshold of about £5bn suggested recently – appears to have convinced him. CKI holds a 39 per cent stake in Hongkong Electric, the electricity supplier, and the two companies will be teaming up to run EDF Networks, as they have done for other energy assets in the UK, including Northern Gas Networks, a gas distribution business that was acquired in 2004. The price achieved for EDF Networks, which represents a 27 per cent premium to the regulated asset value of the business, is a sign the market for European energy companies may be improving, and could encourage other companies with network assets in Britain, such asEon of Germany and Iberdrola of Spain, to put their similar businesses up for sale. CKI was advised by RBS, EDF by Deutsche Bank, Barclays Capital and BNP. EDF reported on Friday a 47 per cent drop in first-half profit after making a provision on nuclear development in the US because of financing delays. Net income was €1.7bn in the first half compared with €3.1bn the previous year. Earnings before interest, tax, depreciation and amortisation rose 4 per cent to €10.4bn, EDF said. The utility took a provision of €1.1bn for its North American activities due to delays in developing nuclear reactors and said building its Flamanville EPR model in France would cost more and be delayed. EDF is also expected to make a statement on Friday on taking a larger stake in Areva, the French nuclear engineering group, after the French government this week urged the two companies to form a more effective strategic partnership to win overseas contracts. Areva has been given the go-ahead for a 15 per cent capital increase, in which EDF could raise its 2.4 per cent stake to 7 per cent, according to officials.

BP may sell German gas stations for $2.6 billion. Sat Jul 31, 5:59 am ET. VIENNA (Reuters) – BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans. Wirtschaftswoche said France's Total, Russia's Rosneft and Avia, an independent chain of filling stations, were among the possible buyers. Rosneft would also be interested in BP's two German refineries, it said. Aral is the market leader in Germany where around 2,400 filling stations operate under its brand, it says on its website. BP bought the chain in 2002 as part of a larger deal with German energy group E.ON. BP was not immediately available for comment.

LOAN SHARK (HUTRESS)

2010-07-29T08:44:00.001-07:00

LOAN SHARK (HUTRESS)

138 anos depois, abre um novo banco comercial no Reino Unido. 29 Julho 2010 | 10:55
O Metro Bank é o primeiro a responder ao repto do governo inglês de que haja mais concorrência no sector, ao anunciar a abertura do seu primeiro banco de retalho. Corria o ano de 1872 quando o último banco comercial tinha aberto portas. Uma sondagem levada a cabo pelo site uSwitch.com revelou que 38% dos consumidores no Reino Unido estariam dispostos a considerar mudar de banco. 57% dos inquiridos vêem o sector bancário sob uma “luz sombria”, e 37% consideraram que o aparecimento de novos bancos transformaria o sector para melhor. Se há um sector que sofreu com a crise que, hoje, afecta todo o mundo, é o sector bancário. Os resgates que os governos se viram obrigados a fazer para salvar alguns bancos da falência podem tê-los salvo financeiramente, mas o rombo que tais medidas significaram na reputação das instituições só agora se está a aferir verdadeiramente. É, por isso, compreensível que os governos clamem por maior concorrência. Exige-se sangue novo. No Reino Unido o Metro Bank foi o primeiro a corresponder ao pedido do governo. Acaba de anunciar a abertura do primeiro balcão, em Holborn, Londres, e a intenção de, até 2020, abrir mais 200 balcões. O tal sangue novo começa, assim, a preencher as artérias de Londres. Anthony Thomson, presidente e co-fundador da instituição, aponta como meta para 2020, deter 10% de quota no mercado de bancos de retalho. Para tal, nos próximos três anos o banco poderá angariar 250 milhões de libras (300 milhões de euros) para financiar a expansão, provavelmente, através e uma subscrição pública de capital, adiantou Thomson em entrevista à Bloomberg, no novo banco de Holborn. “Nós vemos uma enorme oportunidade de crescimento no m ercado actual. A única forma de outros bancos aumentarem os seus lucros é através de cortes nos custos. Nós investiremos em serviços porque nós estamos no mercado de tirar quota aos outros bancos”, garantiu Thomson à Bloomberg. A intenção de Thomson é, assim, capitalizar no colapso financeiro de instituições, até há pouco tempo, imbatíveis, como o Northern Rock e “roubar” clientes aos (ainda) maiores bancos do país (HSBC, Barclays, Lloyds Banking e Royal Banking of Scotland) cuja reputação sofreu um revés com o despoletar da crise financeira global. O plano, para já, contempla trunfos como horários de abertura mais longos e durante sete dias por semana e a oferta de melhores e mais rápidos serviços que os seus concorrentes, dos quais são exemplos um serviço de “call-center” disponível 24 horas e serviços bancários online. A tarefa, no entanto não se afigura fácil. “Bancos novos terão dificuldades em oferecer novos produtos e melhores preços”, adianta Ralph Silva, estratega da Silva Research Network, em declarações à Bloomberg. “Os clientes precisam de saber em que medida os novos bancos serão diferentes, se lhes darão vantagens nas suas hipotecas, por exemplo, relativamente aos outros”, conclui. As declarações de Silva encontram reflexo nas de Leslie Tully, trabalhadora de 32 anos de uma empresa de segurança em Londres que, desde há cinco anos, é cliente do HSBC. “Eu preciso de saber se um novo banco me vai oferecer algo de consideravelmente diferente daquilo que me é oferecido pelo meu banco actual”, antes de decidir mudar. “Não sei exactamente o quê, mas porque não um incentivo monetário?” Porque não? O Metro Bank, fundado por Thomson e Vernon Hill (fundador do Commerce Bank, no EUA, em 1973), não promete incentivos monetário, mas desde já adianta que disponibilizará produtos como hipotecas, cartões de crédito, empréstimos e contas-poupança, com taxas “justas e transparentes”. Sem adiantar muito mais, o presidente da instituição garante que o banco a que preside se distinguirá dos restantes não só através das taxas praticadas mas pelo serviço ao consumidor. O Metro Bank é o primeiro desde 1872 (ano em que o Co-operative Bank entrou no mercado) mas outros se seguirão. O Virgin Bank do milionário Richard Branson planeia entrar no mercado em 2011, ano em que Peter Levene, presidente do Lloyd de Londres, planeia abrir o Project New Bank. Um novo movimento parece, assim, estar em andamento. Resta saber se haverá correspondência por parte dos consumidores. “O grande desafio por trás de toda esta nova actividade no sector será o de saber se os consumidores mudarão ou não de contas, para novos bancos”, adiantou Steve Davies, chefe da secção de bancos de retalho na PricewaterhouseCoopers. “Novos bancos trarão uma nova perspectiva ao sector bancário no Reino Unido, mas será uma maratona. Não um ‘sprint’”, concluiu. Sendo uma prova de resistência ou de velocidade, uma coisa é certa: o disparo de pistola já soou.

Hi Viktor, Your application for 'Russian Speaking Office Coordinator' (#126192030) has been received and forwarded to the agency or employer. Job details: Agency/Employer: Huntress Agency/Employer job reference: vs/fpo Position: Russian Speaking Office Coordinator Location: London, London. All futher information we have for this vacancy can be found at http://www.cv-library.co.uk/cgi-bin/jdb_view_vacancy.cgi?jobref=126192030, where you can also find contact details for the agency/employer. Please DO NOT contact us to find out the status of your application - we will not know - replies to this email are not monitored. Other people who have applied for this vacancy have also shown an interest in these: Amazing PA opportunity to support a CEO!!! - http://www.cv-library.co.uk/cgi-bin/jdb_view_vacancy.cgi?jobref=126190506 You can view a list of all of your job applications at http://www.cv-library.co.uk/cgi-bin/showapplications.cgi Search jobs at http://www.cv-library.co.uk/jobs Many thanks, CV-library.co.uk. http://www.cv-library.co.uk.

From: Vicky Smith (drop@broadbean.net)
Sent: 29 July 2010 08:41:59 (But, in reality @15:40-15:45)
To: Viktor Glugovsky
Dear Viktor Glugovsky , Many thanks for your application to Huntress. We endeavour to process applications immediately and speak with all candidates personally, although due to the sheer volume of responses this is becoming increasingly challenging. Please note that if a consultant has not contacted you within seven days it is fair to assume that due to a number of possible reasons your application will not be pursued further in this instance. We will, however, retain your details on our database and contact you with any suitable opportunities in the future. If you wish to de-register from Huntress at any time please email us and we will delete your record from our database. Huntress Search operates as both an employment business and agency. If your application is for a position based in the UK, under European Employment Law you must be eligible to live and work in the UK. Thank you for approaching Huntress and good luck with your search for employment. Kind Regards, Vicky Smith. Huntress Search Ltd. www.huntress.co.uk

El ingenioso hidalgo don Quijote de la Mancha.

2010-07-29T03:36:00.001-07:00

El ingenioso hidalgo don Quijote de la Mancha. Maybe I fight something inevitable, like my age? Maybe, in place of this, I should embrace the changes and see what they (for example, the 11C at the winter) can bring to me? Maybe to be more ‘open’, keeping the ‘maintenance’ of me realised? Logically confirming that the change of events that are taking place, - all to my advantage? Carry on to cooperate in order to get along “better” with my “clients”, “personnel”, “co-workers”, “clients” and management? In my mind, - it’s not me causing the problem: it’s everyone else. Off course, it’s good idea to instead of giving away my power by determining that everyone else has more influence (i.e. WB, EBRD, IDA, etc.) over my mood and attitude than I do… To “discounting” (i.e. dispose like a garbage in “our case”) my huge experience to working with directors, customers, and other such representatives… I can’t (??) control them, but, I can (or must?) adapt myself to their idiosyncrasies. That’s the fact. Now, should I 24/7 run around trying to find the impossible balance between keeping other people happy and my ambitions? The Goldman Sucs with three cherno-jopyh russkih kozlo-voniuchih bankira, s protianutoy rukoy pod mestnoy bulochnoy? “We” “need” a little technology to help us to “do it”? ‘I can, you can, printer Canon can’, - is of the common knowledge… But does it make any of my achievements any the less remarkable?

Dead babies found in French village. Wednesday, July 28 10:58 pm. French police have arrested a husband and wife after discovering the corpses of eight new-born babies. The couple, in their 40s, were detained after the bodies were found at two different sites in the village of Villers-au-Tertre in northern France. Public prosecutor Eric Vaillant said: "Two people are being held in custody. They are the mother and father of the children."

Fire in German freighter hold, Alicante. Wednesday, July 28, 2010. On July 26 in the morning spark from wielding works ispired fire in cargo hold of general cargo Bonacieux, berthed in Alicante, Spain. In hold were wind turbine fiberglass blades, smoke billowed from hold and was seen from city and local beaches. 5 fire teams fighted fire for about 5 hours till finally extinguished it. No injures, damages estimating. Bonacieux – IMO 9505297, dwt 3300, built 2010, flag Gibraltar, manager Briese Schiffahrts GmbH Spain media.

BP May Sell Venezuela Oil Stakes to Russian TNK-BP Venture. Jul 29, 2010. BP Plc has told Venezuela’s state oil company it’s interested in selling stakes in three projects to its Russian venture, TNK-BP Holding, Petroleos de Venezuela SA Vice President Eulogio del Pino said. BP needs the Venezuelan government’s approval to begin negotiations on the proposed sale, del Pino said in a mobile phone text message. BP, seeking to overcome cleanup costs and liabilities from the Gulf of Mexico oil spill disaster, didn’t indicate a value for the assets, he said late yesterday. “We received a letter from BP raising the possibility of transferring its stakes of 16.66 percent in Petromonagas and its minority stakes” in two further ventures to TNK-BP, he said. BP said July 27 it plans to dispose of as much as $30 billion in assets in the next 18 months, after reporting a record second-quarter loss because of the costs of the Gulf of Mexico oil spill. BP is in talks with TNK-BP over the sale of a $1 billion package of Venezuelan projects, the Times reported earlier today, without saying where it got the information. “Both companies may lose as a result of such a deal,” said Alexander Nazarov, a Moscow-based analyst with IFC Metropol. “BP needs to get the highest price for its assets. TNK-BP would be seeking a considerable discount from BP, being a BP associate. Moreover, the deal would be subject for a close consideration by regulative authorities, as a related party transaction.” Vladimir Buyanov, a BP spokesman based in Moscow, said the company wasn’t commenting on its divestment plans. Pakistan, Vietnam. BP said last week that it sold $7 billion of assets in the U.S., Canada and Egypt to Apache Corp. It also plans to sell holdings in Pakistan and Vietnam. BP may revive the sale of fields in Alaska after they failed to make it into the Apache deal, two people with knowledge of the matter said last week. “TNK-BP would have no problem,” paying about $1 billion dollars for new assets, said Svetlana Grizan, a Moscow-based analyst with VTB Capital. In Venezuela, BP has stakes in the Petroperija and Boqueron oil fields and the Petromonagas heavy oil-upgrading project, which produces 110,000 barrels of oil a day, according to BP’s website. Petroperija and Boqueron produce a combined 19,500 barrels a day, according toPDVSA’s website. The largest, Petromonagas, was formerly known as Cerro Negro and was operated by Exxon Mobil Corp. It includes wells, pipelines and an upgrader to convert tar-like crude into lighter synthetic crude. Nationalization Drive: Venezuela took over the project on May 1, 2007 along with other privately operated oil ventures as part of a nationalization drive by President Hugo Chavez. Exxon demanded about $5 billion in compensation for the project, according to Venezuela’s ambassador to the U.S. at the time,Bernardo Alvarez. Morgan Stanley and Royal Bank of Scotland Group Plc may be involved in BP’s negotiations with TNK-BP, the London-based Times said in its report. The Gulf of Mexico disaster has cost Tony Hayward his job as BP’s chief executive officer. He will be replaced Oct. 1 by Robert Dudley who was forced to leave Russia two years ago in a battle for control of the 50-50 venture with the company’s billionaire shareholders. BP plans to nominate Hayward as a non-executive director of TNK-BP, the U.K. producer said July 27. He will also remain on the BP board until Nov. 30. Russian Billionaires: TNK-BP shareholder German Khan said July 27 he had congratulated Dudley on his appointment. “We also welcome the possibility that Tony Hayward will be named to the board of TNK- BP,” Khan said. “We think he’s highly qualified specialist and was the victim of a subjective situation.” Moscow-based TNK-BP accounts for about a quarter of BP’s production, a fifth of reserves and about a tenth of earnings. In 2008, TNK-BP’s partner AAR, a group of companies owned by Khan, Mikhail Fridman, Viktor Vekselberg and Len Blavatnik, called for Dudley’s ouster in a dispute over strategy at Russia’s third-biggest oil company, alleging he ignored their interests. Dudley denied the charge. BP reported a record $17.2 billion second-quarter loss on July 27. It is reducing its debt to as little as $10 billion in the next 18 months after cutting it by $5 billion to $23.2 billion last quarter from a year earlier. To raise funds for President Barack Obama’s $20 billion spill fund and shore up investor confidence, BP last month canceled the $10 billion dividend for three quarters and said it would reduce investment to raise funds. BP has spent $4 billion on the spill response so far, and analysts say the total bill is likely to be about $33 billion, according to the median of 11 estimates in a Bloomberg survey.

Lukoil to invest in themselves. American ConocoPhillips this year can come out of capital "Lukoil ", and he - to buy its own shares, paying nearly $ 9 billion This will be the largest deal in Russian oil industry since the sale of Yukos assets 29.07.2010,Until the end of 2011 ConocoPhillips will sell its entire stake in "Lukoil"- 19,21% of the capital, announced yesterday an American company. Already signed an agreement to sell itself "Lukoil 7,6% aqueous package (buy it "daughter "companies - Lukoil Finance Ltd) for $ 3.44 billion The deal should close by 16 August, and to purchase the remaining 11.61% is the option to September 26, 2010, said "Lukoil ". Option price of its representatives did not disclose. A message from Conoco that the package can be sold on the market.
Conoco five years was a shareholder and general partner of "Lukoil " (see the cutout), but last year the company decided to sell the assets at $ 10 billion over two years to reduce debt by a third. And in March, the president "Lukoil's Alekperov said that Conoco offered his company to buy up to 10% of its own shares. Y "Lukoil "is preferred right of redemption, said Alekperov, but enjoy his company does not intend: "While I do not see the need. Quotes "Lukoil "will not be affected if selling the package on the market in small portions, he explained. Until the end of June Alekperov more than once declared that "Lukoil "is not going to buy from Conoco own shares. "We believe that today our company has other problems - explained the president. - I, as leader, would not want to jeopardize the financial stability of company especially in 2010-2011. because, in our view, crises have not yet ceased to influence the industry. " What has changed over the last month and why "Lukoil yet decided on a deal with Conoco, "Vedomosti "of unknown. Managers of "Lukoil "did not want to comment on the position of President, to get comments from him "Vedomosti "failed. A spokesman for Prime Minister Dmitry Peskov assured that the Russian government no recommendation "Lukoil "to deal with Conoco did not give - "neither formal nor informal. Immediately after yesterday's message "Lukoil "has begun to appreciate. By the end of the day it's capitalization has grown RTS by 3,4%, on MICEX - by 3,5% (both indices declined). The market clearly believes that "Lukoil comes rationally, said employee. The deal price by 5% below the quotations on the LSE before the announcement, but almost at the level of average prices last week. So, the deal was in absolutely the market price, said managing partner "Dashevsky & Partners Steven Dashevsky. Perhaps, "Lukoil "decided on the deal because Conoco to sell 19% stake in the shortest possible time, argues the Bank of Moscow analyst Denis Borisov, since a seamless selling such a package should be four years. It quotes "Lukoil grow, because repurchases - is a signal: management believes in the growth of capitalization of the company, adds analyst.Problems with the resources at "Lukoil "should not be: by April 1 on its accounts was $ 3.3 billion, the ratio of net debt to EBITDA - 0,5, which means that it may well bring the market up to $ 20 billion If the "Lukoil "will acquire all shares of its common costs will be close to $ 8.7 billion (the price is already a transaction). And then it will be the largest deal in the oil industry in Russia since the sale of assets of Yukos (which "Rosneft"has spent nearly $ 26 billion). Conoco plans in Russia is not yet clear. The experience of the company was "positive ", including the authorities of the country, and Conoco awaits "productive relationship in the future ", cited in the press release of its CEO Jim Mulva. While in March Financial Times, he explained the decision to get rid of investments in "Lukoil "that "major strategic opportunities were reserved for companies that are 100% Russian, we knew it. "

De Beers after Penny – report. Gareth Penny's decision to quit as De Beers CEO came as little surprise to diamond analysts in London, writes Sunday Times. His contribution to the diamond company has been praised by chairman Nicholas Oppenheimer. But De Beers has still to define a direction to address the results of management follies that stretch back decades, the report said. While the $2.6 billion sales of rough diamonds during this year's first half were much higher than the catastrophic $1.4 billion of 2009's first half and the second half's $1.8 billion, the sufferings of the recession are far from over. The sales improvements owe much to restocking by cutters and the trade, now about complete. Achieving a degree of stability now depends on actual purchases at retail jewellers. And that demand remains fragile in North America and Europe, though the group says it is "encouraged" by demand in Asian markets.
On this will depend the group's ability to continue to generate positive free cash flow needed to manage its recently restructured $1.98 billion external debt and shareholders' loans of $785 million, the report said. It might be possible to clear some debt by selling more South African assets, following those of the Cullinan and Kimberley underground mines to Petra Diamonds. Selling stakes in the partially-owned Botswana mines, which delivered two-thirds of the past six months' 15.4million carats, is simply not on.
Much the same goes for the Namibian properties. Gaborone and Windhoek have progressively reversed the years of what they saw as one-sided "exploitation" by De Beers. Finding a replacement for Penny will be an exercise in horse-trading between the dominant shareholders Anglo American (45%) and the Botswana government (15%). Despite its 40% shareholding, the Oppenheimer family is increasingly viewed as the junior partner. Finance director Stuart Brown and commercial director Bruce Cleaver will act as interim joint CEOs. Penny will remain until the end of September, but will defer to the two.
Suggestions that he might be replaced by fourth-generation Jonathan Oppenheimer are unofficially dismissed by Anglo insiders. They are aware that Anglo must be sensitive to its own shareholders' insistence that De Beers be led by someone competent to fill the CEO's position. Anglo is itself undergoing a thorough change of direction and focus, and that has called for fresh approaches to influential shareholders, said the report. Outsiders place the odds on Brown becoming CEO, if an insider is selected. But Anglo itself brought in an outsider as CEO, Cynthia Carroll, when it felt the need for a fresh focus and a clean leadership break from the old Oppenheimer influence. Among issues the new CEO will need to address is the outcome of the folly of believing lawyers might enable De Beers to beat class actions in the US. The hope that making an offer and coughing up millions might work has been proved baseless by the court's recent overturning of a proposed settlement, the report said.
What does Anglo plan to do with its minority stake in De Beers?

Ambiguous day.

2010-07-28T10:21:00.000-07:00

Ambiguous day. The risks are great, but the results in the event of success will be significant. A bit puzzled to search for reliable allies. With them I can much easier to move forward into the new "territory". In terms of communicating the day is not the easiest: is not so much trying to find common ground with others, - they keep to impose. Than though, - cavalry is not coming. Even when I feel completely surrounded.

Reliance, Essar eye BP's Africa retail ops-sources. 1:21pm BST. DELHI/MUMBAI (Reuters) - BP Plc is in talks with India's Reliance Industries and Essar Group to sell its African retail assets that could be worth as much as $500 million (320 million pounds), four sources with direct knowledge of the matter told Reuters on Wednesday. It was not immediately known whether BP was showing the African assets to other potential buyers. BP plans to sell $30 billion (19 billion pounds) of assets over the next 18 months to cover costs related to the worst oil spill in U.S. history. Reliance Industries, India's largest listed conglomerate, declined to comment, while a spokesman for steel-to-shipping conglomerate Essar said "We don't comment on speculations." BP intends to sell its marketing business in Namibia, Malawi, Tanzania and Botswana and focus on South Africa and Mozambique. Billionaire Mukesh Ambani-controlled Reliance, whose interests include petrochemicals, refining, oil and gas exploration, and retail, is expanding its presence overseas by investing in new areas such as shale gas. The Essar Group, controlled by billionaire brothers Shashi and Ravi Ruia, is also nursing ambitious expansion plans and recently raised $1.95 billion (1.25 billion pounds) through an initial public offering of its energy and power businesses in London. In September 2007, Reliance acquired Gulf Africa Petroleum Corp (GAPCO), an east African oil retailer, to gain access to the rapidly growing economies of the region and a growing demand for petroleum products. "Reliance is looking into this opportunity as it has a presence in the African continent through GAPCO," one of the sources said. All the sources declined to be named as they were not authorised to speak to the media. BP's planned asset sales are aimed at helping it pay for its liabilities and create a leaner company with the potential for higher growth. The company agreed to a $7 billion (4 billion pounds) sale of oil and gas fields to Apache Corp last week. India's state-run explorer Oil and Natural Gas Corp and state-backed Petrovietnam are expected to submit a joint formal offer within weeks to buy BP's stake in the Nam Con Son gas project in Vietnam, India's oil secretary, S. Sundareshan said on Tuesday.

Tiger on the loose in South Africa. Tuesday, July 27 06:39 pm. A tiger escaped from the back of a truck in South Africa on Tuesday and remained on the run as police used helicopters to hunt it down.
The 17-month-old tiger called Panjo escaped while it was being driven by its owner to a veterinary clinic in the town of Springs east of Johannesburg. The tiger's owner, Rose Fernandes, told local radio she did not know how the tiger had managed to escape. She said the tiger was used to humans but police urged local residents to be vigilant and report any sightings. Tigers, who are native to Asia, are only found in zoos in South Africa. The 140 kg (310 lb) tiger remained on the run and police used helicopters and microlight aircraft to locate it. "This is certainly the biggest tiger hunt that Africa has ever seen," said Andre Snyman, head of a private security network coordinating the search. Fernandes said anyone who came across the tiger should treat it "like a dog" by picking up a stick and saying "No" in a loud voice. She added that giving it meat, especially chicken, would also be likely to keep it happy.

ConocoPhillips to Sell Lukoil Stake After Posting Profit Gain. Jul 28, 2010 2:51 PM GMT
ConocoPhillips plans to sell its entire 20 percent stake in Russia’s OAO Lukoil, valued at about $9 billion, after gains in crude prices spurred a jump in second-quarter profit at the third-largest U.S. oil company.
Lukoil agreed to buy back 7.6 percent of its stock from ConocoPhillips for $3.44 billion, according to a statement today by the Houston-based seller. ConocoPhillips said it will sell its remaining Lukoil interest, about 12.4 percent of the Russian company’s stock, by the end of next year. The company, which is in the middle of a $10 billion asset- sale program, canceled plans to upgrade its Wilhelmshaven refinery in Germany and this year pulled out of a refining project in Saudi Arabia and an Abu Dhabi natural-gas venture. The Lukoil sale isn’t included in the $10 billion divestiture target. ConocoPhillips previously said it would sell half of its stake in Lukoil, Russia’s largest non-state oil producer.

OUTSTANDING DEBTS (CONTINUATION): German football star's estranged wife demands breast reduction. The former German football captain, Lothar Matthaeus, is fighting demands from his estranged wife that he pays for a breast enlargement reversal. Published: 5:02PM BST 28 Jul 2010. Ukrainian-born, Liliana, 22, claims Mr Matthaeus, 49, should foot the €2,800 (£2,300) bill for the reduction, which has already taken place, as he paid for the original operation as a school-leaving present for her in 2008. The collapse of the former Bayern Munich and Inter Milan star's fourth marriage has been given extensive coverage in Germany. Mrs Matthaeus' stylist, Samuel Sohebi, said the couple been separated for several weeks. Until recently, Matthaeus was coach of Israeli side Maccabi Netanya.

At least 5 died in China factory explosion. Published: July 28, 2010 at 8:03 AM. NANJING, China, July 28 (UPI) -- At least five people were killed Wednesday and more than 100 others injured following a factory explosion in eastern China, officials in Jiangsu province say. A spokesman for the city government of Nanjing said the blast at an abandoned plastics factory damaged buildings and vehicles within 300 feet of the factory, China's official news agency Xinhua reported.

Shit hit the fun?

2010-07-28T01:30:00.000-07:00

Shit hit the fun? When the BBC shamelessly exchanging my face by the face of Lord Kitchener from Karachi, - you’ll for certain, got a new coin called ‘countdown’… From MY smelter… Maybe the objectivity has never been easy thing for me,… however, today, (especially this night and morning) it takes the cake. Please, don’t ashamed yourself, - keep your frenzy feeding.

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PT suspended by Euronext. Jul 28, 2010 7:59 AM GMT. Telefonica SA reached an initial agreement to buy Portugal Telecom SGPS SA’s stake in Brazil’s Vivo Participacoes SA after raising its bid a third time to 7.5 billion euros ($9.8 billion), a person close to the talks said. The accord was reached late yesterday and the boards of both companies have yet to ratify it, said the person who declined to be identified before an official announcement. Madrid-based Telefonica holds its monthly board meeting today. Telefonica Chairman Cesar Alierta has raised the offer by 32 percent from his initial bid in May to gain control of Vivo, Brazil’s largest wireless company. Alierta wants to merge Vivo with Telecomunicacoes de Sao Paulo SA, or Telesp, the Spanish company’s fixed-line unit in Brazil, to ride the growth in the Latin American country as business slows at home. “Strategically, this was clearly necessary for Telefonica and the price reflects that,” said Alberto Espelosin, who helps manage about $12 billion at Ibercaja Gestion in Zaragoza, Spain, and owns Telefonica shares. Portugal Telecom shares were suspended from trading, Euronext said today. A Telefonica spokeswoman declined to comment. Calls to Portugal Telecom’s press office and investor relations departments weren’t immediately returned. Telefonica on May 6 offered 5.7 billion euros for Portugal Telecom’s stake in Brasilcel NV, their 50-50 venture that owns 60 percent of Vivo. It raised the bid to 6.5 billion euros in June and in the same month increased it to 7.15 billion euros, after the two earlier offers were rejected by the company. Veto Powers. The third offer, which won approval from the Lisbon-based company’s investors, was blocked by the Portuguese government last month using special veto powers. The latest agreement was reported earlier today by newspaper El Pais. Portugal Telecom will use about half of the proceeds to buy a stake of between 20 percent and 25 percent in Tele Norte Leste Participacoes SA, known as Oi, El Pais said, citing unidentified people close to talks. The Portuguese government had defined Portugal Telecom’s stake in Vivo as “strategic” for the country. Both companies have sought growth in Brazil as markets at home cooled. Vivo had 30 percent of Brazil’s 179 million wireless subscriptions at the end of March, according to Anatel, the country’s phone regulator. Brazil is growing at the fastest pace in more than two decades even as European demand slows. Telefonica, whose Brazilian unit Telesp’s first-quarter sales fell 1.4 percent in local-currency terms, needs a greater mobile-phone presence in the country. Portugal Telecom. Portugal Telecom has relied on Brazil for growth, with sales from the Latin American country rising 27 percent in the first quarter, while revenue at home fell 3.6 percent. Since 2006, Vivo has overtaken the fixed-line unit as the company’s biggest revenue contributor, accounting for half of sales in the first quarter. Portugal Telecom may reach an agreement within days to buy a stake in Oi as talks are advancing, a person with direct knowledge of the negotiations said yesterday. The owners of Oi would likely control Brazil’s biggest phone operator under the terms, which are still being discussed, said the person, who declined to be identified because the talks are private.

How BBC called this guy? Andy Kite? Tuesday, July 27 11:21 pm. A father believed to have slit the throats of his wife and two young daughters before hanging himself was facing bankruptcy, it has emerged. Detectives confirmed they are not seeking anyone else in connection with the deaths of Andrew Case, 33, his wife Vicky, 31, and their two children Phoebe, two and Nereya, one. Their bodies were discovered at their home in in Fordingbridge, Hampshire, by the children's grandmother on Monday. HGV driver Mr Case, who was believed to have been found hanging on the landing, had reportedly filed a formal alternative to bankruptcy known as an Individual Voluntary Assessment. It said the status of his case on the Individual Insolvency Register was marked as "current" while the address was given as his former home in a rural part of the New Forest. After filing it with Salisbury County Court in 2006 it appeared Mr Case was coming to the end of his agreement to pay back creditors a percentage of his debts over five years. It is understood that after the deadline the outstanding balance of the debts is written off if payments have been kept up. A spokesman for Hampshire Police said they were continuing to investigate the background and circumstances that led to the four deaths. Post-mortem examinations have revealed that Mr Case died as a result of a ligature suspension while his wife died from knife wounds.
The cause of death of the two girls has yet to be established although post-mortem examinations were due to take place on Tuesday.

Plane crashes in Pakistan. 7 minutes ago. ISLAMABAD (Reuters) - A commercial Pakistani passenger plane with more than 150 people on board crashed in bad weather on Wednesday in hills near the capital, Islamabad, an aviation spokesman said. One body had been recovered, an official said. The plane belonging to AirBlue, a private airliner, lost contact with the control room of the Islamabad International Airport at 0443 GMT while flying from the southern city of Karachi. "There were 146 passengers and six crewmen on board. We are gathering information. We have no more details," Mubarik Shah, spokesman of the state-run Civil Aviation Authority, told Reuters. A thick blanket of cloud could be seen rising from the forested Margalla Hills near Islamabad and a helicopter hovering overhead amid rain. "It was raining. I saw the plane flying very low from the window of my office," witness Khadim Hussain said. Pakistan's AAJ television showed footage of at least one helicopter hovering over what appeared to be the site of the crash, with columns of smoke billowing from heavily forested ground. Flames licked at trees in the area. The cause of the crash could not be immediately ascertained.

Importance to being Earnest.

2010-07-27T02:31:00.001-07:00

Importance to being Earnest. Finding yourself catch up in NEGOTIATIONS after such ‘gorgeous’ results of crash-test, - is annoying at least. Personally, I’m positive that it better to be privy to what’s going on rather than sitting around wondering who is saying what to whom…

Princess blackout, Carribean. Monday, July 26, 2010. Travellers onboard the 3,114-berth Emerald Princess (built 2007) grabbed their cell phones Monday to type text about a power outage that left the ship crippled during a Caribbean cruise. "We were a floating paperweight for four hours as they tried to repair generator and computer problems," one passenger said in a note posted on a popular industry message board. The US Coast Guard (USCG) says the vessel lost power shortly after leaving Fort Lauderdale. "Meanwhile, of course, no a/c [air conditioning], limited lights and cancellation of shows, entertainment," wrote the Princess patron, adding: "The dinner menu was limited to a few items and the poor waiters were melting in their uniforms!" A spokesman for the Los Angeles-based cruise line says power has been restored to the vessel but refused to elaborate further. According to passengers Princess cancelled a scheduled stop at its private beach in the Bahamas, but the rest of the itinerary hasn't changed. The Bermuda-flagged Emerald Princess is among 20 ships in the fleet of the Carnival Corp subsidiary. Emerald Princess - IMO 9333151 Flag Bermuda build 2007 GT 113561 Capacity: 3,114 passengers Crew: 1,200.

T. Hayward, BP chief executive sent to upstairs in Russia. To date, BP has officially stated that the executive director of the British oil giant BP, Tony Hayward, will retire on Oct. 1 2010. Now he enters the board of directors of the Russian-British TNK-BP as an independent director. According to Chairman of the Board of Directors of BP Carl-Henric Svanberg, the leadership of the company deeply regretted the "loss" of the Executive Director, who for three years successfully managed the company. However, K-H.Svanberg noted that BP is still a strong company with attractive assets and an excellent team of specialists, so that the oil giant has played an important role in the global energy sector. It is interesting to note that shift worker T. Hayward until 2008. led by TNK-BP, which now will go the outgoing head of BP. In May of 2008. it became known that the Russian shareholders of TNK-BP agreed to dismissal of Robert Dudley from his post as head of the company, since he, in their opinion, acted only in the interests of the British side. After three months of conflict loud R. Dudley nevertheless resigned as head of TNK-BP. Soon, he was appointed a member of the board of directors of BP. That R. Dudley on the order of the Board of Directors BP Carl-Henric Svanberg took over the operation to eliminate the effects of oil spill into the Gulf Coast.Initially, the operation led BP T. Hayward, but he was severely criticized by the U.S. Congress, White House administration and international environmental organizations. Recall that the accident on a drilling platform Deepwater Horizon, leased by BP, occurred in the Gulf of Mexico in April 2010. Only July 19 specialists to remove the cap set on the emergency hole, but the oil spill continued. It later emerged that the source of oil spill is located 3 km from the well. In total, BP spent $ 4 billion to eliminate the effects of environmental disasters in the Gulf of Mexico.

Bank Stress Test.

2010-07-23T10:57:00.000-07:00

Bank Stress Test.
Swiss tourist train in deadly derailing in Alps. One of Switzerland's best-known tourist trains, the Glacier Express, derailed on Friday in the Alps at the peak of the holiday season, killing one and leaving 42 injured, a railway official said. The Swiss news agency ATS reported that most of the injured were Japanese tourists. Six of them were in a serious condition. The Glacier Express is a major Swiss attraction, as it travels from St. Moritz to Zermatt, through some spectacular Alpine views. Swiss media said the accident took place between the skiing resort of Lax and the village of Fiesch, near the Swiss-Italian border and the mouth of the Aletsch glacier, Europe's largest icemass. Photographs posted on Swiss media websites showed at least three carriages toppled over.

Bank Stress Test. Executive summary: The Committee of European Banking Supervisors (CEBS) was mandated by the ECOFIN of the European Council to conduct in cooperation with the European Central Bank (ECB), the European Commission and the EU national supervisory authorities a second EU-wide stress test exercise. Sample of banks: The 2010 stress test exercise has been conducted on a sample of 91 European banks1. In total national supervisory authorities from 20 EU Member States participated in the exercise. In each of the 27 Member States, the sample has been built by including banks, in descending order of size, so as to cover at least 50% of the respective national banking sector, as expressed in terms of total assets. Scenarios used in the exercise: For the purpose of stress testing the credit risk and simulating the profit and losses, two sets of macro-economic scenarios (benchmark and adverse) have been developed, in close cooperation with the ECB and the EU Commission. The benchmark scenario was based on the EU Commission Autumn 2009 forecast and the European Commission Interim Forecast in February 2010, with several adaptations to reflect recent macro-economic developments in a number of countries. The adverse macro-economic scenario was based on ECB estimates. Within the adverse scenario, the exercise also envisages a “sovereign risk shock”, reflecting adverse conditions in financial markets. The benchmark macro-economic scenario assumes a mild recovery from the severe downturn of 2008-2009, whereas the adverse scenario assumes a “double-dip” recession. For the euro area, the GDP growth under the benchmark scenario is assumed at a level of +0.7 (2010) and +1.5% (2011), whereas under the adverse scenario the euro area would see a decrease of GDP by -0.2% in 2010 and -0.6% in 2011. For the whole European Union (EU27) the benchmark scenario assumes a +1.0% growth of GDP in 2010 and +1.7% in 2011, whereas under the adverse scenario the GDP would not grow in 2010 and would decline by -0.4% in 2011. Aggregate results: Based on the results of the calculations, the aggregate Tier 1 capital ratio, used as a common measure of banks’ resilience to shocks, would decrease under the adverse scenario including sovereign shock from 10.3% in 2009 to 9.2% by the end of 2011. It should be noted that the aggregate Tier 1 capital ratio incorporates approximately 169.6 bn € of government capital support provided until 1 July 2010, which represents approximately 1.2 percentage point of the aggregate Tier 1 capital ratio. Probabilities of Default and Loss given Default: Estimates of probabilities of default (PD)13 and loss given default (LGD)14 parameters were computed at the country level for five main portfolios (financial institutions, sovereign, corporate, consumer credit and retail real estate). For all countries in the exercise, these parameters were computed for both the benchmark and adverse scenarios for 2010 to 2011.15. 17 For details see “www.moodyskmv.com”. 18 PD and LGD levels for 2009 were calibrated on the basis of results from data collections from national authorities, various surveys conducted by the CEBS and the ECB, and market information. Sovereign bond haircuts: The increase in bond yields affects the valuation of holdings of government debt in the banks’ trading books,19 and in the exercise its impact is not offset by changes in the valuation of derivative positions (credit derivatives, interest rate swaps, etc.) that are used to hedge the sovereign bond exposures. For the purposes of estimating valuation haircuts, it was agreed among participating supervisors that a five-year maturity was representative of the approximate duration of sovereign bond holdings held by banks in the EU. Hence, the haircuts for sovereign bonds are computed in two steps, first by estimating five-year bond yields, consistent with the assumptions for ten-year yields and then, in a second step, translating these five-year yields into their corresponding sovereign bond prices.

US Stocks Mixed After Bank Stress Test Results. JULY 23, 2010, 12:24 P.M. ET. NEW YORK (Dow Jones)--U.S. stocks edged up Friday after all but seven European banks passed stress tests, but investors questioned whether the tests had been rigorous enough to allay concerns over their stability. The Dow Jones Industrial Average recently rose 20 points, or 0.2%, to 10344. The Standard & Poor's 500-share index edged up to 1094. The Nasdaq Composite slipped 0.3% to 2240. "Most trading desks as well as the market are still trying to digest the headlines, but for the most part it seems like banks have passed the stress tests," said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management. "The question regarding the stress tests is the metrics behind the tests themselves in terms of what European regulators looked at. It's still somewhat of an uncertainty." All French, Portuguese and Dutch banks passed the tests, as did all but one of Germany's banks, but more than one of Spain's banks failed. But investors have questioned whether the tests were rigorous enough to prevent confidence from eroding in the future.

Ball playing – I’m watching.

2010-07-23T00:31:00.001-07:00

My friend George is having a belated birthday party this week. Half of Hollywood was there. The other half were sitting at home, wondering what they're missing. Sadly, I can't make it. I live too far away. What? You too? And do you really mean to say that you don't even know George? What a gap there must be in your life. Or, er... is there? The Full Moon brings a warning to all (including George) this weekend, not to decide they'd be happier if only they were somewhere else, doing something different.

Colombian diplomats have 72 hours to leave. WESTERN HEMISPHERE. The Venezuelan government has set a 72-hour deadline for Colombian diplomats to leave the country, shortly after Venezuelan President Hugo Chávez severed ties with Colombia, Venezuelan Minister of Foreign Affairs Nicolás Maduro reported on Thursday. "We have sent a diplomatic note to the chargé d'affaires of the Republic of Colombia in Caracas for them to shut their embassy down within 72 hours and leave the country," Maduro said. The Venezuelan Head of State ordered Venezuelan troops on the Colombian border to keep alert and prepare in the event of raid.

Dismissal for cause "equals" a special reason. Economico with Lusa. 22/07/10 20:03. The entrepreneur Belmiro de Azevedo argued today that dismissal for cause "equals" a special reason. The businessman stated that "just cause is a special reason if fair." "We still do not quite understand what it is," said today the chairman of Sonae on the preliminary draft constitutional revision of the PSD, with changes on the redundancies, which refers to the law defining the concept of "special reason". For Belmiro de Azevedo, who spoke on the sidelines of a protocol with the Board of Matosinhos, "just cause" and "special reason" is equal, but they say no, "adding that" just cause is a special reason if it is just " .
"Frankly, I think is like or even less," he said, recommending the same to talk "with a professor of Portuguese." The PSD Policy Committee approved Wednesday, in general, the preliminary draft constitutional revision of the party, with amendments, including an addition on the redundancies, which refers to a law defining the term "special reason". This decision was announced by the secretary general of the PSD, Miguel Relvas, at a press conference at the Centro Cultural and Congress of Aveiro, where tonight meets the National Council of the PSD. Miguel Relvas took the opportunity to point out that "an ordinance of 1975, was prime minister of Portugal General Vasco Goncalves," admitted "the termination of individual employment contract by dismissal promoted by the employer or public authority, based on reason attendable" . "But it goes further: the employee may be fired with cause were well founded, provided that it be given notice," said Miguel Relvas, accusing him of "demagoguery" Critics of the proposal of the PSD, which replaces the term "good cause" for "special reason" regarding the prohibition of dismissal. The decision of the Political Commission of the PSD was to keep the wording of the preliminary design for the article about the dismissal, but with an addition, which states that the concept of "special reason" is defined "in accordance with law."

A Taiwanese television presenter suffered an asthma attack live on air after choking on a mosquito that flew into her mouth.

Real hare invades greyhound race. Thu Jul 22 10:13AM. Greyhounds racing in Australia were left seeing double when a real hare sprinted across the track. The intruder made an unscheduled appearance in a race at Shepparton in Victoria, crossing the track in front of a pack of speeding dogs. One greyhound, Ginny Lou, gave chase but the hare managed to dart off the track just in time. The 20/1 shot was placed third at the time, and the race was declared void. Bookies refunded around £18,000 punters had wagered on the race.

BNP leader barred from Queen's garden party. 4 News. 22 July 2010. The leader of the British National Party tells 4 News the "British political elite" is to blame for a decision to revoke his invitation to today's royal garden party. Nick Griffin has described the move as "politically motivated". Mr Griffin had been eligible to be one of the party's 8,000 guests in his capacity as an elected member of the European parliament. The BNP leader was in his hotel waiting to set off for the event when he learned that Buckingham Palacehad withdrawn his invitation. A statement from the palace said Mr Griffin would not be welcome at the event, "due to the fact he has overtly used his personal invitation for Party political purposes through the media. "This in turn has increased the security threat and the potential discomfort to the many other guests also attending." In an interview with Channel 4 News, the BNP leader said the 'British political elite' was behind the decision to bar him from Buckingham Palace. He said: "If the palace really had a rule to say that you mustn't make anything that could be perceived as political out of this, it shoud have been in the list of rules along with 'don't bring a mobile phone', 'don't bring a camera' and it's not."

The good indian...

2010-07-22T02:54:00.000-07:00

Financial issues have never been at the top of my list of things I find simple to deal with -- with romance, of course, coming in a close second. That's extra true right now, and especially so if I’m at the dead center. Mean be in the UK+Chap man). If someone are bring me a speculative document and claims it must be signed immediately? (…” President José Eduardo dos Santos promises to pay debts to SMEs in two months. published on 07.19.2010 at 18:21. Angolan President José Eduardo dos Santos, said today that Angola's debts to Small and Medium Enterprises (SMEs) Portuguese will be paid within two years. In a press conference after a meeting with the Portuguese President, Cavaco Silva, who began today a state visit to Angola, the Angolan President also said that the debts will be paid to large companies at 40 percent initially and then will be made for rescheduling for one, two years. " Without specifying the amount of debt to the Portuguese companies, Eduardo dos Santos referred to the overall debt to Angolan firms, from 6.8 billion dollars (5.2 billion euros), estimating that "30 percent of this value" is referring to Portuguese companies. Lusa. NYSE Liffe defends London cocoa market. July 21 2010 12:07. The London cocoa exchange has said it saw “no evidence of abusive behaviour” in the market last week, responding to complaints from small and medium-sized processors about the recent spike in prices to a 33-year high of £2,732 a tonne. Armajaro, the trading house and commodities hedge fund, took physical delivery of almost all the cocoa inventories held in Europe after the expiry last week of the Liffe July futures contract, triggering complaints of a squeeze. The delivery, equal to about 7 per cent of the global cocoa crop, was the largest in Europe in 14 years. NYSE Liffe, which operates the cocoa exchange, said the market had been orderly in spite of the swing in prices and the large delivery. In a letter to a group of cocoa processors which had complained about what they viewed as speculation, it said: “While we are sensitive to the points you have made regarding market volatility, from our investigations there is no evidence of abusive behaviour or that any market participant is trading with the specific purpose of distorting the price of the July 2010 delivery month.” The letter was a response to a protest from the processors, which had accused the London-based market of lacking transparency and control. “What we are experiencing today is clearly a manipulation of the contract, which is bringing the London market into disrepute and which, we believe, should not be allowed,” the critics said. Chris Herman, NYSE Liffe’s head of operations, replied: “We note your assertion that the current price activity is due to speculation. We are unclear on what factual basis that conclusion can be reached.” The exchange added that its contracts supported the needs of a range of market participants, “including those who wish to use the market to make or take physical delivery” as well as those using the market to hedge physical risk. The exchange and the German Cocoa Trade Association, one of signatories to the critics’ letter, declined to comment on Wednesday. The processors and Liffe plan to meet in London next Tuesday to discuss last week’s events. But the exchange said in its letter that it wanted to address the matter directly rather than through the media, in reference to public complaints by the German association in recent weeks. “Although it has been interesting to read the inevitably disparate views expressed as a result of this week’s media coverage, we consider that the interests of the market as a whole are better served by a more direct dialogue,” Liffe said. The exchange has also promised that it will soon start publishing a report stating the number of contracts in the hands of speculators and commercial operators. Liffe said the report had been delayed, in part because it needed to develop new systems. Cocoa for delivery in September in London fell on Wednesday to £2,314 a tonne. Traders said prices could remain subdued in July and early August, before picking up again in September”…) I should first find out what the rush is all about? ISIT? Is there something crucial that I need to know in the fine print?

BP Rises After Agreeing on $7 Billion Sale of Fields to Apache. Jul 21, 2010. BP Plc rose in London trading after agreeing to sell oil and gas fields in the U.S., Canada and Egypt to Apache Corp. for $7 billion, raising cash to meet the costs of the Gulf of Mexico spill. BP climbed as much as 4 percent and traded at 402.65 pence as of 10:20 a.m. local time. The stock is down 39 percent since the Deepwater Horizon rig exploded on April 20, killing 11 workers and triggering the worst oil spill in U.S. history. Europe’s largest oil producer by volume said last month it would sell $10 billion of assets to raise cash for the $20 billion fund demanded by President Barack Obama to compensate victims of the oil spill. BP said yesterday that it plans to sell assets in Pakistan and Vietnam, and the company was said to be in talks with Apache earlier this week about selling half its stake in Alaska’s Prudhoe Bay oil field. “It’s a nice tidying up of the portfolio,” said Iain Armstrong, an analyst at Brewin Dolphin Ltd., which overseas more than $31 billion in London, including BP shares. “If they can get rid of Vietnam and Pakistan assets as well, even better.” Apache will buy BP’s Permian Basin holdings in Texas and southeast New Mexico and gas properties in western Canada, London-based BP said yesterday after the close of trading. BP also agreed to sell exploration concessions in Egypt. Cash Deposit. BP said Apache will pay a deposit of $5 billion in cash on July 30. The total price of $7 billion includes $3.1 billion for the Permian properties, $3.25 billion for assets in western Canada and $650 million for the Egyptian assets, according to BP’s statement. The Prudhoe Bay stake was on track to be sold for $10 billion to $11 billion, according to a person with knowledge of the matter. Jason Kenney, an analyst at ING Wholesale Banking in Edinburgh, values BP’s assets in Vietnam and Pakistan at about $1.7 billion altogether. BP suspended its $10 billion annual dividend for three quarters and cut investment spending to help pay for spill costs, which Brewin Dolphin’s Armstrong predicts will reach $40 billion. BP reports second-quarter earnings July 27. Robert Dudley, the BP executive running the spill cleanup operation, is the front-runner to replace Chief Executive Officer Tony Hayward, who is set to step down in the next 10 weeks, the London-based Times reported today, citing unidentified people close to the company. Hayward has the full support of the board and will stay in his post, a BP spokesman said.

The power of suggestion.

2010-07-19T14:26:00.000-07:00

The power of suggestion. Viktor, what’s going on? We need to know, - and we think you now have a chance to find this out. Almost certainly it is not quite what you think is going on. But, if you ask leading questions that are ‘designed’ to support a presupposition, - you can get replies that (bolster) your belief. Put aside your biggest ideas (Skolko ‘vo’) and believe in yours strongest assumptions. Overcome your fear of uncovering uncomfortable ‘information’! Relieve yourself. Trust us, you’ll feel much better…

Telefónica / Portugal Telecom. And the Portland 450 cement is what? July 19 2010 16:33. Negotiating a divorce is even harder when the mother-in-law takes a seat at the table. The Portuguese government last month blocked Telefónica’s €7.2bn offer to buy Portugal Telecom out of Vivo, their joint mobile venture in Brazil. Now the Spaniards have ended attempts to revive the offer – they are (not unreasonably) tired of negotiating with shareholders and Portuguese politicians at the same time. Lisbon says it is acting in PT’s best interests; in fact it has damaged the company while doing Telefónica a favour. Not that the deal is necessarily dead. Lisbon remains meddlesome by insisting that PT stay in Brazil: it could buy into a different Brazilian operator (probably Oi) and then take Telefónica’s money. But Oi’s ownership structure is complicated and if PT is to avoid a shareholder revolt it must secure more than a minority stake. Buying in Brazil would also be expensive: Telefónica’s offer, which valued Vivo at about 10 times expected earnings before interest, tax, depreciation and amortisation, has had the effect of inflating everyone else’s expectations. Telecom Italia, for example, would be unlikely to accept less than €13bn for its Brazilian mobile operator, Tim Brasil. The worst-case scenario for PT, meanwhile, would see Telefónica take the case successfully to arbitration court in The Hague, dissolve the joint venture and seize control on the cheap.

Deutsche Bank returns to have a qualified holding in Portugal Telecom. July 19, 2010 | 18:31. The German bank has bought 2,820,533 ordinary shares of Portugal Telecom now holds 2.23% stake of the operator. Once you have sold, June 8, 2010, 1,132,825 shares of Portugal Telecom, Deutsche Bank acquired 2,820,533 shares on the day following the operator's back to hold a qualifying holding in the company. In total, the German bank holds 19,948,715 ordinary shares of Portugal Telecom, representing 2.23% of its share capital and corresponding voting rights. The actions of Portugal ended today losing 0.34% to 8.02 euros.

Gem falls as output misses target. Gem Diamonds Ltd., a miner of the precious stones in Lesotho and Australia, fell the most in almost three weeks in London trading after first-half production in Australia missed company forecasts, Bloomberg reported. “Plant availability and rain hampered plant throughput from March to June and has resulted in an underperformance against targets,” the London-based company said today in a statement. “Both tonnage treated and carats recovered are likely to be slightly below target for the full year.” Shares in Gem fell 8.2 pence, or 3.7%, to close at 212.8 pence at 4:30 p.m. in London, the biggest daily fall since July 1, according to the Bloomberg report.

Viktor Vekselberg, the Russian billionaire, has launched a High Court action against Christie's after it sold him a 'forged' Boris Kustodiev painting for £1.7 million. Published: 6:28AM BST 18 Jul 2010.

BM&F Bovespa.

2010-07-17T10:36:00.000-07:00

BM&F Bovespa. Vivo is the largest mobile phone service provider in Brazil and in South America with over 50 million users. Most of its network was initially IS-95/cdmaOne based, although there were parts of it that were still analogAMPS and parts (resulting from acquisition of other companies) using TDMA (IS-136). These are all being converted to GSM since 2006, when, after years being the only CDMA network, Vivo announced a GSMnetwork, and that it would operate in both CDMA and GSM. The CDMA network is being gradually converted to CDMA2000 in the major cities, where the company now provides mobile Internet access. The Vivo brand was launched on April 13, 2003. Until 2006, the group was composed of six holding companies which, as announced in November 2005, merged into a single holding company, Vivo Participações S.A.. The operation was concluded on February 22, 2006. Vivo also operates an UMTS 3G network.

Telefonica withdraws bid for Vivo. Brazil. 17/07/10 14:15. Telefónica announced to the market that the supply of 7150 million by Vivo expired for not having been a response to administration of PT by the deadline specified. The board of directors of PT was convened yesterday in the afternoon, having reached a final decision on the proposal that Telefónica had the support of BES and opposition from the Portuguese Government. PT has yet attempted to negotiate an extension of the deadline, but Cesar Alierta, who had already warned he would not give more time to the business, not given to the intentions of the National Telecom. This will not, however, the last episode of a longstanding war for control of the Brazilian market. And now there are two certainties in the market: Telefónica will not give up in Brazil and the Portuguese Government will have a say if the Spanish return to the live load. Moreover, the proposal was now withdrawn from the start, doomed to failure. Just yesterday, in briefing the Council of Ministers, Pedro Silva Pereira has guaranteed that, if supply was maintained, the Government would have the same position expressed in the AG's June 30, or veto the deal against the wishes of shareholders. The largest shareholder of PT, BES, has, however, a different position. Ricardo Salgado said he feared a takeover bid from Telefonica and PT to the group reaffirmed that partnership in Vivo is "exhausted" by the telecom should seek alternative solutions in Brazil. It has defended the sale of Telefónica Vivo by 7150 millions of euros. What remains now is how the market will react to the withdrawal of the offer, and various investment houses anticipated a decline in PT shares if the deal does not materialize, projecting three possible scenarios: Telefonica raises the price of the Offer by Vivo, Telefonica launches a hostile bid for PT, or withdraws from Telefónica and Vivo in Brazil looking for another solution.

7150

2010-07-17T03:23:00.000-07:00

You see how the very “old family issue”, the 8%, the one that I’ve been dealing with forever, or at least so it seems by me and by them (i.e. by the Royal Family of Lancaster’s), has once again popped in? The second time ‘Mister COP15’, the second time. Also it seems that this one, - for an extended, should I say, prolonged visit. Not that I’m ill or something, no, - I’m just distressed by it. And so are my so-called “colleagues” and “co-workers”. (The some times I call them “Brotherhood of City”). The truth be told, there’s no one left, who isn’t sick of it. With the egos involved, (what do you expect from the “Racist issue” and the “African Question” Your Majesty?), - no one is willing to let it go, at least (‘Oh!’, ‘Not again!’) until I do something about it. Just because you are convinced that it is my inconsistency which is lead me down. With which I strongly disagree. At least, by the last two decades. ‘Unfortunately’, - I am very observant and can quite easily to spot the emerging trends. To discounting the strong and continuous emotional manipulation, which has been applied upon me. Before Your Majesty decide what need to happen next, you have to understand more what has happen in the past, and why the things have been developed as they are… (“Cynism – is asset also…”). And the exact reasons that keep be not interested in cleaning the oily shits for your “Wellfair2Work”... Why you permit this routine of subconscious limitations (in “my” case, - the constant hitting on my head) with inadvertent irritation, - is up to you. May be it’s because the warm word will replace the chilly criticism? From the bottom of my pocket, - the deep illumination for you...

Train broke in half, in Ovar. Accident cuts the Northern Line. A freight train, which contained flammable products and wood, derailed yesterday afternoon near the way station of Válega in Ovar.The train, which broke in half and damaged the power transmission posts, cut the Northern line in that area. At the end of last night, rail traffic would be to reopen so constrained. According to a source of CP will require about a week for the circulation returns to normal. The accident, at 15:45, frightened residents of the quiet village of Válega."I heard a huge bang. When I looked I saw many flames, because the cables are all gone," said Anthony Rodrigues CM. As the cause of the derailment CP indicates "an extension of the line, which made the axes oscillate.

Indian Landmine Explosion Kills Five Security Personnel, Xinhua Reports. Jul 17, 2010. A landmine explosion in the central Indian state of Jharkhand today killed five members of the security forces, China’s Xinhua news agency reported, citing police. To contact the reporter on this story: Sydney at @bloomberg.net

PT asks Telefónica more time to negotiate and put the executive committee to lead the process. July 16, 2010 | 22:06. PT wants the negotiations to deepen. Asked for more time to Telefónica, which will be granted. PT will move the negotiations of the board for the executive committee. There are several options on the table. Portugal Telecom to Telefónica asked for more time to see if it comes to understanding Brazil, found the business. Telefónica is now deciding whether to give this time, and keeps saying the proposal of 7150 million euros to buy part of the PT in Vivo. However, in recent days stepped up negotiations and the positions are not moved away. That's what led to the decision of the board of PT. The aim is to continue with negotiations, but at a deeper level, through the board's executive committee for the PT. Telefónica must accept to keep the negotiations and expects to be in the communique to be issued this evening we can come up with a term. The Government today reiterated its opposition to the sale of Vivo, the same day that Ricardo Salgado stressed that PT should accept to sell the mobile operator, to stay with the availability of funds to seek alternatives in Brazil. For the Government, the condition is that PT will remain in Brazil.

Goldman and BP suffer costly reputational hangover. JUL 16, 2010 15:47 BST. It’s nearly over. Wall Street bank Goldman Sachs has settled fraud allegations with the U.S. Securities and Exchange Commission with a $550 million slap on the wrist. BP has shown it can halt the flow of oil from its bust well in the Gulf of Mexico, giving confidence to recent research that the leak could cost the UK oil group less than $30 billion. But shareholders have paid a far heavier price for these episodes than the quantifiable damage suggests. That deficit has one obvious explanation: the cost of reputational damage.
Take Goldman. Its shares rose only modestly on Thursday’s deal with the regulator, leaving its market capitalisation at $74.8 billion, 21 percent lower than its value on April 15, the last day before the SEC filed charges. Almost half of that is attributable to the fall in global equity markets, taking the MSCI World Index as a benchmark. After backing out the paltry fine, there is $9.7 billion of value destruction to explain — 11 percent of Goldman’s value adjusted for falling markets. It’s a similar story at BP. The group is worth 77.6 billion pounds, 36 percent less than its value before the Gulf well blew on April 20. Adjust for the fall in global markets over the course of the spill, and back out 19 billion pounds for the latest estimate of the known costs of the clean up and compensation, and there’s still 16.1 billion pounds of value destruction to account for. That is 14 percent of BP’s adjusted market value. It would be too crude to conclude from this analysis that reputation is worth about 12.5 percent of market cap, or that BP somehow has a higher “reputational beta” than Goldman. Both companies face continuing business challenges arising from the episodes, and the UK oil group’s predicament is still much more uncertain than Goldman’s. But what is clear is that reputation has huge value. Companies need to guard it more vigilantly.

кремлёвские сосунки

2010-07-15T03:48:00.000-07:00

The oбосранные на будущие 35-50 лет кремлёвские сосунки: ‘It’s not that (artificial) uncertainties caused you by you lowering my confidence. Is the light of proper professional decisions helping me see all this night избивания. This shouldn’t be looked at (i.e. 35-50 years) as a negative. Or, as a position when I don’t stop telling to myself that I’m trapped. Now, if I feel that I have been seriously manipulated emotionally (i.e. cтрочит пулемётчик…), and, I am by the козло-вонючие кацапские твари, and others english speaking Almohads, - I say so. For long periods, my way with words has been golden. So, logically, - the all yours of last 30 years financial exploits, naturally revealing by theirs selves like the pocтом невышли… And that the futures become very similar to that oбосранный малыш. (See the photos). None of worries! Which is again, - ‘Alleluia’! Nothing of surprises for the next 35-50 years… Our civilisation is you: ‘What can’t you have’? ‘What can’t you change’? Let’s the vybliadki of Vekselberga and Youshenka “keep contemplating” this restrictions. Trust me, from my side, - I’m not trying to depress you…

KKR Joins Blackstone in Stock Market Disillusioned With Buyouts. Jul 15, 2010. KKR & Co., the firm that made its name in the biggest leveraged buyouts, may find that private equity is its biggest stumbling block in winning over public investors when it debuts in its hometown of New York today. KKR, which depends on private equity investments for 62 percent of fee-related income, traded at about six times estimated earnings in Amsterdam, where it combined last year with its listed fund. Larger rival Blackstone Group LP, which has reduced dependence on buyouts to 29 percent of fee income, has a price-to-earnings ratio of 10. Both firms are trading at less than half their price when they first went public, with valuations that are trailing those of more traditional asset managers such as Legg Mason Inc., whose multiple is about 19. Public investors have shunned private-equity stocks since Blackstone, the largest buyout firm, sold shares three years ago, just before the credit crisis ended a three-year boom that saw $1.6 trillion in announced deals, many of which have yet to turn a profit. “The wheels of the model need to start turning because, from an investor’s perspective, private equity is sitting idle again,” said Roger Freeman, an analyst with Barclays Capital in New York. KKR rose 30 cents, or 2.9 percent, to $10.50 yesterday in its last day of Amsterdam trading. Blackstone fell 26 cents, or 2.5 percent, to $10.28 yesterday in New York Stock Exchange composite trading. KKR’s Journey. KKR, which originally filed to go public in 2007, abandoned that plan amid the global credit crisis, then opted to merge with its European publicly traded fund. The combined firm is shifting its listing to New York from Amsterdam. Both Blackstone and KKR’s Europe fund have traded below their IPO prices since almost immediately after their offering. KKR’s European fund hasn’t risen above its $25 IPO price. Blackstone’s all-time high of $35.06 came on June 22, the day after its initial offering. Shareholders in publicly traded private-equity companies are entitled to earnings from fees that the firms charge for managing funds, and from so-called performance fees that depend on the funds’ profits. Analysts tracking Blackstone and KKR base their estimates on a measure called economic net income, which doesn’t conform to generally accepted accounting principles, or GAAP. In Blackstone’s case, the firm uses ENI in part because it will post net losses for several years related to non-cash costs tied to its initial public offering. Fund Losses. KKR, which has $42.5 billion in fee-paying assets under management, said in May that it had economic net income of $674.8 million in the first quarter. Blackstone, with $98.1 billion in fee-earning assets, has reported economic net income of $360 million for the period. Both firms have posted paper losses on buyout funds raised since the beginning of the LBO boom in 2005, hurting performance fees. KKR’s funds are down $708 million and Blackstone’s have lost $861 million, according to regulatory filings. KKR earned no performance fees from its private-equity funds during the first quarter, with all of the $12.5 million in incentive fees from its public markets unit, where it makes fixed-income investments. Blackstone said it had $54 million in realized performance fees and $131.8 million in unrealized performance fees in the first quarter across all of its businesses. Seeking Fees. Blackstone and KKR have responded to the buyout drought by diversifying. KKR, which pushed buyouts into the mainstream with the $30 billion purchase of RJR Nabisco Inc. in 1989 and led the record buyout of energy producer TXU Corp. for $43.2 billion in 2007, has more recently expanded into areas such as capital markets, underwriting equity and debt offerings for its portfolio companies. The capital markets and principal activities business had fee-related earnings of $18.5 million, or about 20 percent of the total. KKR, created in 1976 by Henry Kravis and George Roberts, is also diversifying geographically to boost assets and diminish its reliance on large U.S.-focused investment funds. The firm is currently marketing a fund that will make investments in China and hopes to secure $800 million in commitments for it. KKR is also targeting $1 billion for a pool that will buy traditional oil and gas businesses. The private markets segment that includes private equity accounted for 62 percent of KKR’s total fee-related earnings in the first quarter. Blackstone relies on private equity for 29 percent. Most fee-related earnings come from its fund-of-hedge- funds, which contribute 35 percent of the total. ‘Sensitive’. Blackstone may report a profit of 17 cents when it published second-quarter results on July 22, based on a survey of nine analysts by Bloomberg. That would be the firm’s fifth- straight profit, after losses from the third quarter of 2008 until the first quarter of 2009, during the peak of the credit crisis. “Blackstone’s revenues and earnings are highly sensitive to the investment performance of the company’s underlying investment products,” Keefe, Bruyette & Woods analyst Robert Lee wrote in a July 13 note to clients previewing Blackstone and other managers’ earnings. “The sharp selloff in the stocks of alternative managers in the second quarter was way overdone and there is good value in the group.” Lee, who rates the stock “outperform,” has a price target of $17 a share.
KKR may post a loss of $1.27 a share for the second quarter, on an economic net income basis, Michael Kim, an analyst at Sandler O’Neill & Partners in New York, told clients in a July 6 note. KKR will probably mark down the value of some of its private-equity investments, he said in the note.

Tanker collided with yacht, one dead, Italy. Chemical tanker Martina collided with yacht Aliva near Santa Marinella, Italy, on July 13, one yachtsman dead. Both vessels detained for investigation. Martina – IMO 9143439, dwt 11137, built 1998, flag Italy. Fire on tanker, one crew missing. Fire on board of chemical tanker Eastern Honesty occurred on July 12 in South China sea off Malaysia coast, one crew missing, two injured. Eastern Honesty – IMO 9246944, dwt 8719, built 2002, flag Panama.

Federation of Trade Unions protest against increases in gas prices. 07/15/2010 12:40. Federation of Trade Unions of Ukraine expresses categorical protest against the increase from 1 August to 50% natural gas prices for households. It said in a statement released today, trade unions, who believe that the decision "a gross violation of accepted laws and principles of social dialogue. National Electricity Regulatory Commission ignored the Ukraine Cabinet of Ministers of Ukraine from February 24, 2010 N184 to the irreversibility in 2010 gas prices for households. Touched upon in the agreement under the General Agreement on binding agreement with unions such decisions. No single conciliation on to increase gas prices for households was conducted, "- said in a statement FPU. "It is sad to note that the Government of M. Azarov began operations in ignoring public opinion when making such a socially important decision that affects the welfare of virtually every family. And this is when the head of state constantly stresses the need to strengthen social dialogue and calculation views public "- summarized in the federation. It also emphasizes the message: "This is a significant step backwards, since even the previous government of Yulia Timoshenko this alone does not allow, despite the fact that Federation of Trade Unions of Ukraine stayed with him in the collective labor disputes at the national level." Federation of Trade Unions demands of the National Electricity Regulatory Commission to cancel the "illegal decision to increase from August 1, 2010 natural gas prices for households and avoid making further such decisions without the consent of trade unions. Remember, pursuant to the National Electricity Regulatory Commission of Ukraine N812 of 13 July 2010, retail prices for natural gas for the population from 1 August to rise by 50%.

BP полностью перекрыла утечку нефти в Мексиканский залив. Российская газета — RG.RU, 1 час назад. Утечка нефти из поврежденной скважины в Мексиканском заливе полностью прекращена. (BP proibida de fazer novas perfurações "offshore" nos próximos setes anos). Инженеры BP приступили к тестированию нового защитного купола, который должен поставить точку в работах по ликвидации аварии. Роботы постепенно закрывают три специальных клапана на куполе (эта работа потребует нескольких дней), после чего утечка нефти полностью прекратится.

Alrosa considers Gohkran sales. The Russian state diamond company's chief executive Fyodor Andreyev said in his address to the 34th World Diamond Congress on Sunday that Alrosa and the state stockpile agency Gokhran are considering the sale out of Gokhran stocks of “$500 million to $800 million worth of rough...by the end of the year in order to stop supporting the speculative demand from the market." Andreyev said that there is a danger of an unsustainable bubble in prices. “A price bubble is emerging in the international diamond market,” he told delegates, adding that Alrosa’s long term supply contracts are one way of combating speculative price tendencies. Another way was by using Gokhran stock sales, such as De Beers's Central Selling Organisation used before De Beers liquidated its buffer stocks. "Prices are already close to the price level of 2008,” Andreyev said, “and the situation begins to repeat itself. So we are once again faced with the question of how to regulate this market. Stable, predictable market transparency is the keyword today," he claimed. “The state is now becoming an active player in the market. There is currently in discussion with the Finance Ministry [the idea] that one source of price-fixing deficiency and protection against ‘bubble’ could be those [stockpile] reserves that are accumulated by the State.” Although Russia’s diamond stockpile volumes, values, and operations have always been classified a state secret, Andreyev told delegates that operations with the Gokhran stockpile would add transparency to the market, and to bank lenders to diamond miners like Alrosa.
Andreyev: "At the peak of the crisis, the main issue that arose from the banks - this was the opacity of the industry, its pricing mechanisms, the capacity of production. And all this we have to change. Now we have become more open, to give information to the market, and interact with manufacturers.” Following Andreyev’s comments that the current price trend in the rough market is speculative and that supply continues to fall short of demand, De Beers issued a statement saying: "We believe that this process is due to strong demand in the holiday season and is not a speculative growth."

Today's interests.

2010-07-14T11:11:00.001-07:00

Today's minority interest is tomorrow's popular pastime! The many activities that once seemed eccentric or strange had to gone-on to become a part of mainstream culture. People, for example, used to laugh at folk who went to pop festivals. Now, think back to some of the ideas that “we” had long ago and which others dismissed or failed to support. “We” began to suspect that “we” might be alone in our dreams forever. Not so.

1). Project / Program Manager, 5 years ETRM STP Oil exp London Base. Oliver Tovey. Fenwick Ryan. Tel: 01329 288 666. Email: oliver.24245.284@fenwickryan.aplitrak.com
2). Energy Sales Consultant. Curtis Clarke. ACT Management Solutions Ltd. Tel: 0844 351 0431. Email: curtis@act-ms.com. Web: www.act-ms.com
3). Specialist Engineering Recruitment Consultants. Kate Meager. James Lewis. Tel: 07737 126327. Email: kate@j-lc.co.uk. Web: www.j-lc.co.uk
4). Senior Structural Engineers - Oil and Gas. Jodie Cattermole. Resourcing Solutions Ltd. Tel: 0118 932 0100. Email: Jodie.Cattermole.84264.231@rsl.aplitrak.com

El Ejecutivo comunitario aprueba la fusión entre Iberia y British Airways. La Comisión autoriza también la alianza de la española y la británica con American Airlines. AGENCIAS - Madrid - 14/07/2010. La Comisión ha aprobado el plan de fusión entre Iberia y British Airways tras concluir que la nueva entidad seguirá enfrentada a una competencia suficiente, por lo que no ha impuesto ningún tipo de condición. La aerolínea fusionada será la tercera mayor de Europa, por detrás de Lufthansa y Air France-KLM, y una de las cinco más importantes del mundo. En lo referente al transporte de pasajeros, la Comisión examinó en particular el impacto de la transacción prevista en las rutas cortas Londres-Madrid y Londres-Barcelona, determinando que no sería perjudicial para la competencia ya que hay suficientes transportistas alternativos que operan esos trayectos. Del mismo modo se examinaron una serie de rutas, largas y cortas, con escalas y sin escalas, y los resultados fueron idénticos: la compañía fusionada no violará las leyes de la competencia. Tampoco lo hará, según las conclusiones del Ejecutivo comunitario, en los mercados de transporte aéreo de mercancías, de servicios de asistencia en tierra, y de mantenimiento, reparación y revisión. Ambas aerolíneas conservarán su marca y respetarán sus operaciones y dimensión nacional, pero juntas tendrán una flota de más de 420 aviones y abarcarán destinos a más de cien países. Además esperan ahorrar alrededor de 400 millones de euros anuales a partir del quinto año de funcionamiento conjunto. La compañía española ha dicho en un comunicado que "la aprobación de las autoridades comunitarias y etadounidenses representa un paso importante en el proceso de fusión de las dos aerolíneas, que se prevée llevar a cabo a finales de 2010". También recuerda que ya recibieron el visto bueno de las autoridades de Estados Unidos el pasado mes de junio. Alianza entre Iberia, British Airways y American Airlines La Comisión Europea ha autorizado también la alianza de Iberia, British Airways y American Airlines, dando por buenas las concesiones que dichas compañías ofrecieron para resolver los problemas de competencia que pudieran ocasionar. El Ejecutivo comunitario había acusado en septiembre del año pasado a las tres compañías, pertenecientes a la alianza One World, de pretender constituir una entente que restringiera indebidamente la competencia en los vuelos transatlánticos. Las aerolíneas propusieron adoptar una serie de medidas con el fin de permitir que otras compañías pudieran empezar a operar en las rutas donde la alianza mermaba la competencia. En concreto, Iberia, BA y AA han ofrecido derechos de vuelo en Londres Heathrow o Londres Gatwick en los destinos Boston, Dallas, Nueva York y Miami. Los competidores podrán podrán operar 49 vuelos de ida y vuelta por semana entre la capital inglesa y las cuatro ciudades norteamericanas. Asimismo proponen ceder derechos en el aeropuerto JFK de Nueva York para los trayectos desde Londres. Los operadores se comprometen también a permitir la participación de otras compañías en sus programas de fidelización de clientes, posibilitando a los pasajeros acumular y canjear puntos en las rutas pertinentes. Del mismo modo, proponen ofrecer acuerdos y combinaciones de tarifas para tales vuelos. Las partes presentarán periódicamente los datos relativos a su cooperación para facilitar la evaluación del impacto de la alianza en los mercados. Un administrador supervisará los compromisos adoptados por las tres aerlíneas y en caso de que rompieran alguno de ellos la Comisión Europea podría imponer una multa de hasta el 10% de la facturación anual de cada compañía. El comisario de Competencia y vicepresidente del Ejecutivo comunitario, Joaquín Almunia, ha afirmado que "la decisión adoptada hoy permitirá a las aerolíneas poner en marcha la alianza transatlántica a la que aspiraban desde hace mucho tiempo, pero garantizando que garantizando que los aproximadamente 2,5 millones de pasajeros que anualmente utilizan la ruta Londres - Nueva York y otras afectadas sigan beneficiándose de un abanico de de frecuencias y precios competitivos". Las autoridades norteamericanas, por su parte, ya habían dado el visto bueno a la operación el pasado 14 de febrero. Iberia, British Airways y American Airlines coordinarán sus actividades comerciales, operativas y de mercadotecnia, gestionarán conjuntamente horarios, capacidad y precios, y compartirán ingresos; todo ello en las rutas transatlánticas entre América del Norte (EEUU, Canadá, México y Puerto Rico) y Europa (UE, Noruega y Suiza).

The 5% of measuring equipment.

2010-07-14T02:55:00.001-07:00

The 5% of measuring equipment. You know how is difficult to correctly orchestrate simple task, - ‘How to figure out where to seat everyone at a diner party’? Especially, when this event is taking place in my life? The identity theft is a huge problem, when, it’s obvious by now, - I’m the victim. It’s not to simply update your password, keep your credit cards in a safe place, and don’t reveal the personal information to the “inquisitive acquaintances”. You know who they are. The synonyms, like the firewall in your PC, used by me to protect “lock, stock and barrel” my persona. This note is same. What to put first? The COP15’s Portland 450 cement, or, - my passport with name Socrates on it? My “dear” “colleagues” and “co-workers”, - don’t let the uncertainty confuse you! You need to be strong, to be on your toes and be ready to make changes if you are called for!

Telecommunications: Telefónica does ultimatum to accept its offer of VIVO. 14/07/10 07:30. Cesar Alierta, chairman of Telefonica, warns that the offer expires on 16 Alive and threatens to dissolve the Brasilcel in court.Telefonica yesterday launched a counterattack in the battle for Brazilian Vivo. The president of the Spanish company, César Alierta, warned yesterday that the offer to PT 7.15 billion by Vivo ends Friday and recalled that the ongoing negotiations concern only the two companies, a clear message to Prime Minister Jose Socrates. Also yesterday, reiterated the Spanish press that Telefonica could go ahead with the dissolution of Brasilcel in court if there is no agreement with PT until July 16. "No one should interfere. The marriage took place between Portugal Telecom and Telefonica, and thus continues to be," said Cesar Alierta, quoted by the Spanish agency EFE, referring to the joint-venture of two companies in Brasilcel, the 'holding company that controls 60% of Vivo. For the sources contacted by the Economic Daily, these statements constitute a 'message' to the Portuguese Prime Minister, who at the general meeting of PT, June 30, vetoed the sale of Vivo using the 'golden share' of 500 shares of The category which the State holds in the operator. Statements of Alierta explain the urgency with which Telefónica has to resolve the impasse in Vivo. Every day that passes, the Spanish group is losing money due to the problems of Telesp, its fixed operator in Brazil. The merger with Vivo is seen as the solution to these problems, so that Telefonica can not afford to wait many months for a negotiated solution. Remember that the Portuguese Government gave the impression that whatever negotiations take place without hasty decisions, which makes guessing long months of waiting to reach an agreement.

BP's Crisis Could Soon Become Great Britain's. With the oil continuing to flow into the Gulf of Mexico, BP is facing ever greater challenges. Already, the company has lost half its market value. Should it be unable to cap the leaking well soon, the British oil giant may be forced to sell of assets. That could spell disaster for Great Britain. Such a crash has never before been seen. Fewer than 12 weeks ago, the multinational oil giant BP still held an uncontested fourth place on the list of the world's largest companies. Its impressive balance sheet boasted annual sales of roughly $246 billion (€195 billion), a market value of more than $190 billion and after-tax profits of almost $17 billion. Indeed, insurance companies, retirement funds and pension funds worldwide viewed BP as a safe haven, an almost risk-free investment in an otherwise turbulent market. The company, many believed, would have no trouble weathering even the severest of crises. BP's global earnings appeared safe, its cash and petroleum reserves seemed impervious. But April 20, the day that the company's Deepwater Horizon oil platform in the Gulf of Mexico exploded, marked an end to the once unshakable faith the financial markets had in the oil giant. The company has made several attempts to staunch the ensuing leak, all of which have failed. On Tuesday, the company was voicing optimism that yet another effort -- the installation of an enormous cap said to be an improvement over its predecessors -- may stop the leak entirely. Few are holding their breaths. Experts estimate that more than 60,000 barrels of crude oil are surging out of the well and into the Gulf of Mexico each day. Already, the accident is one of the largest environmental catastrophes in US history -- one that will have immeasurable effects on wildlife, eco-systems and the economy. Experts have estimated that it will cost more than €60 billion to repair the damages. With every extra day that goes by without a solution to the gushing oil, the threat facing the environment, and BP itself, increases. Bankruptcy is no longer seen as an impossibility. A Disaster for Great Britain. Since its oil rig sank on April 22, BP has lost roughly half of its market value, some ratings agencies have downgraded its bonds to junk value, and public faith in the leadership skills of BP CEO Tony Hayward has almost completely evaporated. BP competitors, such as the French energy firm Total, have already indicated interest should BP be forced to sell parts of the company. Total CEO Christophe de Margerie said "of course it would be looked at" should BP begin divesting itself of assets. In order to fend off possible attacks and avert a sell-off, BP's Hayward travelled to the Middle East and beyond last week. There, he reportedly tried to convince sovereign funds from Kuwait, Qatar and Singapore to make major purchases of BP shares in order to help stabilize the corporation over the coming weeks and months. For Great Britain, the crash of its largest company has been a disaster, particularly given the timing -- concurrent with Prime Minister David Cameron's deep spending cuts in an effort to bring down the country's substantial budget deficit and sovereign debt. Cameron has taken a keen interest in the BP debacle; a team of government experts is feverishly drafting an emergency plan. The effects of a breakup, a bankruptcy and even a partial nationalization are all reportedly being evaluated. The 10,000 British jobs BP provides isn't the only issue. BP pays out nearly €7 billion each year in taxes and fees to the British state. Likewise, the company owns large segments of the country's energy infrastructure. 'National Concern'. Even more ominous, however, is the fact that a significant chunk of British pensions depend on BP's well-being. Whether directly or via large private-equity funds, many Britons own a piece of the company. Their pension funds have taken a serious hit from the company's precipitous drop in value and missed dividend payments. London Mayor Boris Johnson has warned that the oil giant's financial problems have become an issue of "national concern." For the moment, it remains unclear whether British taxpayers will have to leap into the breach or whether BP will be able to rescue itself with the help of sovereign wealth funds. Whether the company can make progress in sealing the leak and begin improving its public image may prove decisive. According to experts like Rainer Wiek, editor-in-chief of the Hamburg-based energy information service EID, doing so is the only way that BP can win back the trust of the skeptical financial markets -- and of the increasingly incensed US government, which delivered a new ultimatum to BP last week, demanding more transparency and increased clarity about the measures the company intends to take in coming weeks. Just how far BP's reputation has fallen among Americans can be seen from a recent survey jointly conducted by the Wall Street Journal and the television broadcaster NBC. BP landed just three percentages points higher than ex-Iraqi dictator Saddam Hussein on a scale measuring public approval. The reasons for BP's unpopularity are not difficult to find: disregard of safety measures mandated for deep-sea drilling; insufficient emergency response plans; and repeatedly unfulfilled promises by Tony Hayward that the leak would be rapidly staunched. The Price of Failure. Twice, BP failed in efforts to cover the leak with a type steel bell meant to capture the oil and pump it into a tanker on the Gulf's surface. The much-touted "Top Kill" method -- essentially involving plugging the leak from above by jamming it full of heavy sludge -- likewise proved unsuccessful. Instead, millions of liters of crude oil have continued to surge into the open sea. The resulting oil slick - which now covers an area as large as the three Benelux countries of Belgium, Luxembourg and the Netherlands -- threatens a number of coastal regions. The multi-billion-dollar fishing and tourism industries on the US Gulf Coast are suffering mightily. Every day, BP must ante up approximately $100 million to at least partially cope with the consequences of the catastrophe. Many experts estimate the company may ultimately have to pay up to $60 billion to compensate for environmental harm, penalties and damage claims. Still, even these gigantic sums don't frighten off most analysts. BP, they feel, is in a position to easily cope with such figures, particularly given that such payments will likely be spread out over many years, as has been the case with previous such disasters. Furthermore, sovereign wealth funds from Middle Eastern countries could inject fresh cash into BP's coffers. Prayers and Petitions. For that to happen, however, BP must succeed in implementing its most recent plan -- that of drilling a relief well to finally stop the leak. The company estimates the oil will be stopped by late July or, at the latest, early August. Still, this so-called "bottom kill" method is complicated. It involves having a special drill precisely intersect with the approximately 20-centimeter-wide (7.9-inch-wide) oil well at a point roughly 4,000 meters below the ocean floor. Once the intersection succeeds, well pressure would be relieved enough to make a permanent plug possible. Chances are, however, that the effort won't succeed on the first try -- and the operation could also fail completely. That, of course, would be the worst-possible scenario for the environment. It would also mean that BP would likely be forced to sell off lucrative oil fields and gas station chains, such as Aral, at discount prices. Such a scenario may also include a bankruptcy declaration for the company's US subsidiary or even a partial nationalization in Great Britain. Prime Minister David Cameron appears no longer willing to completely rule out this eventuality. Next week, Cameron will be flying to Washington with Chris Huhne, his energy minister, to discuss the crisis with the administration of US President Barack Obama. The trip's top priority is that of capping the amount BP could be held liable for.

Brussels is ready to give itself 5% pay rise. Nicholas Cecil, Chief Political Correspondent 13.07.10. Brussels bureaucrats sparked outrage today by proposing that their pay bill rise by an inflation-busting five per cent next year. MPs condemned the increase which comes as millions of workers across the Continent face pay freezes or cuts and the threat of losing their jobs. The British government is also opposing the rise, which would infuriate millions of taxpayers. Conservative MP Bill Cash, chairman of the Commons European Scrutiny Committee, warned against large pay rises for the 30,000 Commission staff who already have generous tax breaks. He said: “This is inconceivable. With intense crises throughout the EU, the European Commission has absolutely no basis to be suggesting pay rises which far exceed inflation.” The Commission's draft budget indicated that remuneration and normal entitlements of staff were due to increase by five per cent to €2.26 billion (£1.9 billion)next year. European Commission sources claim the higher bill is to pay for more staff for MEPs and the new external service, not a five per cent pay rise.

In St. Petersburg, shot himself the head of a major construction company. On Monday, the St. Petersburg suicide President of OAO "Lenstroydetal Vladimir Filippov. The body of 52-year-old businessman with a bullet through his head was found yesterday at 18:45 Moscow time in the apartment owned by his wife on Vasilevsky Island. According to RBC in the city police department, the man shot himself in the head with a gun Benelli Argo. According to police, the deceased left no suicide note. At present, verify the circumstances of death "Honored Builder of Russia".

Fed up mean fed-up, isn’t?

2010-07-13T01:06:00.001-07:00

Fed up mean fed-up, isn’t? Mean that some one having had enough with something? Or someone? Mean despondent, depressed, and unhappy with the present situation and, with his “job”? Who also, don’t have a clue what he is writing? Of whom the “confusion” regarding directions is overwhelming that he make chooses of themes (like the BP), for afterwards, the jump of +/- 9%, - was absolutely unexpected and startling? The someone who keep thinking (stubbornly) to try his “luck” at promotion? How!? If the “bosses”, “colleagues” and the “co-workers” are “less” involved in workplace dynamics than usual? Maintaining to saturate my life with a long-time-by-now, - sidelined ideas? The monkey work techniques? Only dedicated to do everything in their power to stand in conceited manner instead to accept that I may indeed be acquainted with? Convinced that’s too much ask to put my case forward?

Energy Sales Consultant (12 July 2010 16:00:09)
Energy Sales Consultant - Nationwide
Our client is an industry leading, multi billion pound energy business, as well as being a highly ambitious organisation, they heavily encourage ambition, and growth, as such, a unique opportunity has now developed in there rapidly growing energy consultation division.
Required; is a technically minded, tenacious, sales hunter, to take up the opportunity as a public facing, Energy Sales Consultant, with the drive to progress to a Team Leader, and the passion and leadership skills to become a regional manager.
As a Energy Sales consultant you will be expected to carry out the following requirements:
* Visiting Pre-booked customers to secure additional services and cover - maintenance, boiler warranty, loft insulations, insurance etc.
* Convert pre booked leads into sales - making full use of the product portfolio to maximise deal size.
* You will be required to act heavily on initiative to aggressively pursue both the leads you are provided with, and the ones you source on your own merit.
You will require 2 - 3 years strong experience in energy sales
Any knowledge of home energy, boiler and or heat / ventilation systems are highly desirable as the cost of sales will average at �3k.
As well as the chance to spearhead your career- if you fit the criteria, there is also generous benefits package available - which dependant on circumstance, can include:
* Competitive salary, Plus potential Car Allowance - dependant on results
* OTE 70k - Top earner earning in excess of 100k last year
* Uncapped Commission scheme
* 25 days' holiday per year plus statutory holidays.
* Share savers scheme (an option to save up to �250 a month)
* Bonuses, and Incentives
This unique embarkment as an Energy Sales Consultant will power your career, and offers an excellent training package that is rivalled by the whole industry, immense career building opportunities as well as astounding rewards and incentives - If you feel you will add immense value to the business, please apply with full resume, and any supporting sales performance documentation you have.
Salaried or Self Employed Routes availible
Project / Program Manager, 5 years ETRM STP Oil exp London Base (13 July 2010 06:48:58)
Project / Program Manager, 5 years ETRM / STP Oil exp, London Base
* Opportunity to move into an Associate Program Director position in a year
* CEO / Board Level exposure as well as middle management
* Get a unique mix of large >£1- 5m single projects through to managing 5 -10 <£50K projects.
* Base yourself from London but enjoy International Travel predominantly across Western Europe.
* Join possibly the strongest team of Oil ETRM Project and Program Manager guru's globally
* Company has in excess of 850 staff with a global presence
* Excellent product training and business training specific to the each client.
* Company are continually expanding at 25% per year
* Universally renowned for high quality business solutions plus unsurpassed delivery and deployment track record.
* Other markets include electricity, natural gas and natural gas liquids, crude oil and refined products, precious and base metals, coal, weather derivatives, emissions, bandwidth, soft commodities, and foreign exchange.
* The company also offer a tried and well test Financial TRM suite.
* Experience with Allegro ETRM, OpenLink Endur, SunGard ETRM, Amphora Symphony, Solarc highly beneficial.
This company are looking to build their Program / Project Management team by attracting a strong Senior Project or Program Manager with a comprehensive background of 5-10 years in OIL + delivering Front, Middle and Back Office technology & professional service solutions for Trading, Risk Management and operational requirements such as (STP) Straight Through Processing. You will be supported by first rate business consultants, technologists and support staff who have an extensive knowledge of this market place and can only add value to your team.
You will undergo thorough training on the software principles and the architecture plus any other skills based training required. You should already be Prince 2 qualified with a strong ability to manage client relationships including often complex inter-company politics. You will also be well versed in the Project Management lifecycle with experience of using MS Office and MS Project. Initially you will shadow an existing PM to learn the process and principles of software. It is expected that you have are educated to degree level but this is not essential.
The role will require travel and therefore you must be willing to visit clients throughout Western Europe.
Send CV in word format or call in confidence first.

BP ready to test oil spill cap. 7:48am BST. NEW ORLEANS/HOUSTON (Reuters) - BP Plc prepared on Tuesday to try sealing off its runaway well with a new cap that it says could for the first time in 12 weeks finally arrest the flow of oil spewing from the floor of the Gulf of Mexico. The energy giant has suffered numerous setbacks in its struggle to control the 85-day-old gusher that stands as the worst offshore oil spill in U.S. history. And BP cautioned that tests of its latest containment system were not sure to succeed. But BP shares, battered for weeks as damage to the U.S. Gulf Coast economy and cleanup costs mounted, surged nearly 8 percent in New York on Monday by promising developments at sea and by news that U.S. energy company Apach Corp and other bidders were in talks to buy up to $10 billion (6.67 billion pound) worth of BP assets. The potential breakthrough in efforts to fully contain BP's ruptured wellhead also came as the Obama administration issued a revised moratorium on deep-water oil drilling that critics called a mere repackaging of an earlier ban struck down by the courts. The prospect of legal battles over the administration's bid to suspend deep-sea energy exploration in the Gulf already has had a chilling effect on drilling, putting tens of thousands of jobs at risk, industry officials and analysts said. The drilling moratorium and its toll on the oil and gas industry were expected to highlight the agenda on Tuesday for a second day of hearings by President Barack Obama's independent oil spill commission, meeting in New Orleans. Even as the seven-member panel began its investigation into the cause and effects of the spill, BP reported a potential turning point in the crisis. Hours after starting up a new oil-siphoning system, BP said Monday night it had installed a 40-ton containment cap atop its leaking wellhead a mile (1.6 km) underwater -- a device larger and tighter-fitting than the one it removed on Friday. Crude oil continued to pour into the sea for the time being, but BP said it planned to begin testing the new cap, and the internal pressure of the well, on Tuesday by closing off valves on the device to constrict the flow of oil. POSSIBLE TURNING POINT. If the test goes as intended, it would mark the first time that the flow of oil from the crippled well has been halted, at least temporarily, since the April 20 explosion and blowout of the Deepwater Horizon drilling rig that killed 11 crewmen.
The test was expected to last six to 48 hours, during which time two smaller siphoning systems, including the one brought online on Monday, will be turned off. But BP warned the outcome was uncertain.
"The sealing cap system never before has been deployed at these depths or under these conditions, and its efficiency and ability to contain the oil and gas cannot be assured," it said in a statement.
Depending on test results, BP will either keep the cap closed entirely or use it to resume siphoning oil to ships on the surface. If it works effectively, the cap should either hold all the oil in or allow it to be safely captured and funnelled away. BP said it plans to permanently block the oil flow in August with a relief well being drilled deep beneath the seabed that will intercept the original well and plug it. In Washington, Interior Secretary Ken Salazar unveiled the administration's new deep-water oil exploration moratorium in a plan worded differently from an earlier drilling ban struck down by a U.S. appeals court last week.
The new ban would run until November 30 and applies to the same oil and gas rigs as before, though it is defined by the types of drilling technologies used rather than the depth of the offshore operations, as the original plan was. Obama is under pressure to make offshore drilling safer and hold BP accountable as the spill devastates the multibillion-dollar tourism and fishing industries across all five states along the Gulf of Mexico. The oil industry reacted to the new drilling ban by saying it would make matters worse.

Aon to buy Hewitt for $4.9 billion. Mon, Jul 12 2010. NEW YORK/BANGALORE (Reuters) - Aon Corp (AON.N: Quote, Profile, Research) will spend $4.9 billion to buy Hewitt Associates Inc (HEW.N: Quote, Profile, Research), in an aggressive bid to leapfrog archrival Marsh and McLennan (MMC.N: Quote, Profile, Research) and create the world's largest human resource services company.
Aon, in its largest-ever deal, would issue 64 million shares and pay a 41 percent premium for Hewitt. The deal did not sit well with shareholders who knocked Aon's stock price down as much as 8.5 percent to $35.10 in regular trade on the New York Stock Exchange.
"They are using a significantly undervalued stock to pay for it," Stifel, Nicolaus & Co analyst Meyer Shields said. "It is going to be fairly tough for Aon to cross-sell its products into Hewitt's customer base."
Aon Chief Executive Greg Case, who had been eyeing Hewitt for a while, approached Russ Fradin, his counterpart at the HR firm, in early June with an informal offer, starting one-on-one talks that led to the agreement, sources close to the deal said. Aon, the world's largest insurance brokerage, announced on Monday a $50 per share offer for Hewitt, consisting of $25.61 in cash and 0.6362 in Aon stock. The deal comes amid a trend toward consolidation in HR services in the last few years as firms look to cut costs amid tough economic times, search for efficiencies and scale and eye global markets, especially in emerging countries. Marsh's Mercer consulting business had revenue of $3.3 billion in 2009. Marsh shares were off 2.3 percent to $22.59 on the NYSE. It surpasses the $4 billion Towers Perrin and Watson Wyatt merger, which created the world's largest HR consultants when it closed in January 2010. Aon bought Benfield, a London-based reinsurance broker, in 2008, and was looking to grow its consulting business. Aon's consulting business had 2009 revenue of about $1.2 billion. With the Hewitt purchase, its revenue would grow to $4.3 billion. Its bid is a preemptive move, as it believed others might have been interested in Hewitt as well, said the sources, who requested anonymity because they were not authorized to speak publicly about the deal. "If he really wanted to become the biggest and the best in HR services, Hewitt was the last and only deal to make that happen," one of the sources said, referring to Case. Hewitt provides services such as creating and managing retirement programs, designing and delivering health programs, reducing HR costs and attracting and rewarding talent. The two businesses do not overlap much, with Aon tending to focus on middle-market companies while Hewitt focuses large companies, the second source said. Aon expects the deal to add to 2011 and 2012 earnings and generate about $355 million in annual cost savings in 2013, primarily from reduction in back-office areas. An added attraction for Aon was the Hewitt brand and the chance to bring its consulting business under it, the source said.
Aon plans to integrate Hewitt with its existing consulting and outsourcing operation. The combined unit would be named Aon Hewitt and headed by Fradin, who would report to Case. RICH PREMIUM
The offer is 41 percent more than Hewitt's closing stock price on Friday, and 14 percent more than Hewitt's all-time high, reached in December. Hewitt shares went up as much as 34 percent to $47.42 in regular trade on the NYSE. Morningstar analyst Bill Bergman said he was concerned about the premium, which he said implied a fair value loss for Aon's shareholders of $3 per share. The price is at a multiple of about 7.5 times Hewitt's fiscal year 2010 consensus estimates earnings before interest, taxes, depreciation and amortization (EBITDA). The multiple is a "higher multiple than Hewitt's shares have seen in quite some time," said Timothy McHugh, an analyst at William Blair & Co. But taking the synergies into account, the multiple is closer to 5 times EBITDA, McHugh said, adding that at that level the "price isn't exceptionally high." The insurance brokerage has financing commitments from Credit Suisse (CSGN.VX: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) for a three-year $1 billion bank term loan and a $1.5 billion bridge loan facility. Hewitt will have to pay a termination fee of $85 million or $190 million, as applicable, to Aon if the deal falls through, a filing with the U.S. Securities and Exchange Commission showed. Aon will have to pay $190 million as termination fee to Hewitt, or $225 million if the deal is terminated due to Aon's failure to get required financing, the filing showed. The deal is expected to close by mid-November. Credit Suisse acted as financial adviser to Aon, and Sidley Austin LLP is serving as legal counsel. Citigroup Global Markets served as exclusive financial advisor to Hewitt, and Debevoise & Plimpton LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel.

Takatoshi Ito: “Prisoners in Euroland”.

2010-07-12T08:59:00.001-07:00

Takatoshi Ito: “Prisoners in Euroland”.

Santander buys SEB’s German branches. July 12 2010 11:54. Santander of Spain, the eurozone’s largest bank by market capitalisation, on Monday said it had agreed to buy the German retail bank business of Skandinaviska Enskilda Banken for €555m ($698m). The agreement, which had been expected, is the latest move by Santander to expand outside its home market in Spain. “Germany is a core market for Santander,” Emilio Botín, Santander chairman, said in a statement. “This acquisition is a significant step towards achieving our goal of being a full-service retail bank in Europe’s largest market.” Santander Consumer Bank AG is already a leading provider of auto finance and consumer loans in Germany, with 6m customers. The deal to buy SEB’s 173 German branches, which is expected to be completed next year following regulatory approvals, will nearly double the size of Santander’s German branch network. The SEB branches serve 1m customers, including 10,000 small and medium-sized businesses, mainly through making mortgage loans and taking deposits. Santander said the purchase would cost it about 10 basis points in the group’s core capital ratio, which stood at 8.8 per cent of assets at the end of the first quarter. Santander’s increased presence in Germany brings it into more direct competition with incumbents such as Deutsche Bank and Commerzbank in the fierce battle for German retail deposits. The country’s retail banking market is extremely fragmented, with most Germans using small local savings banks and co-operatives. Deutsche has attempted to build scale by buying a stake in 2008 in Postbank, which it is expected to take over completely within the next year. Commerzbank bought Dresdner Bank in 2008, in an attempt to become the largest bank serving German retail customers. Foreign banks have rarely been attracted to the German high-street banking market, although Italy’s UniCredit bought HypoVereinsBank in 2005, in the biggest cross-border banking deal in Europe. UniCredit had also been in the running for the SEB business to try to expand its presence. The other large non-German rival in the market is Credit Mutuel, the French mutual, which bought Citibank’s German retail business in 2008. SEB’s sale of its German business would signal defeat for the lender in its efforts to become a force in German retail banking 11 years after entering the market. The Swedish bank has been considering a sale since 2008, but efforts to find a buyer were abandoned during the financial crisis.
Annika Falkengren, SEB chief executive, has long made clear her dissatisfaction with the German retail operation, which has suffered from low profitability and lack of scale in a fiercely competitive market.
SEB entered the German retail market in 1999 through the acquisition of BfG Bank from Credit Lyonnais for €1.6bn. But Germany has increasingly taken a back seat, as the Swedish bank focused on expansion in the Baltic states of Latvia, Lithuania and Estonia over the following decade. Elsewhere in Europe, Santander is also expected to win the auction for a network of UK retail branches being sold by Royal Bank of Scotland. Aside from Europe, Mr Botín has focused on the US and Latin America in recent months. Brazil is already a big contributor to the group’s global profits. Last month, Santander paid $2.5bn to buy Bank of America’s minority stake in its Mexican operations and so take back full control of the business. Francisco Luzón, managing director of Santander’s Americas division, has meanwhile told the Financial Times of the bank’s desire to increase its presence in Latin American countries where it has only a small share of the market, notably Peru and Colombia.

Germany wants' controlled bankrupt "poor countries. 07/12/2010, 16:55. Euro exchange rate is rapidly declining against the dollar after the publication of Der Spiegel that Germany has proposed a plan of "controlled bankruptcy "of countries with high debt. The plan, according to the publication, can lead to serious losses among investors that invested in government bonds. Plan "controlled bankruptcy "- part of a strategy Germanic Chancellor Angela Merkel to establish procedures for bankruptcy countries - members of the eurozone, which no longer cope with their obligations. In this strategy, according to Spiegel, also includes the creation of "the Berlin club "- a union of states, who will oversee the bankruptcy and to serve as a guarantor of all pledged in a payment plan. This club should be independent and not politicized. When the idea of Germany will become a reality, is not yet known. The representative of the Minister of Finance of the country in an interview with Western media has refused to comment on what he called the"intermediate steps ". If the plan is "controlled bankruptcy "will enter into force, the lenders would lose half of the nominal value of government bonds issued bankrotyaschimisya eurozone countries.
According to Spiegel, Germany's finance minister , Wolfgang Schäuble explained the need for such a strategy with a quotation from a working draft of the law: "When a company is bankrupt, the creditors have had to abandon some of their demands, and so too should happen in case of bankruptcy of the States. " The private sector should be included in the process so that taxpayers are not forced to assume the full financial burden, says the German edition of the Government initiative. According to the plan holders of government bonds as an incentive to participate in the restructuring of debts will be able to count on a guaranteed payment of half the nominal value of securities. In Germany, this should help the IMF, which is planned to be involved in the restructuring from the outset. One of the important points of the plan is that in case of bankruptcy of the state will not be able to manage their own finances. They will feed into the "person or group of people familiar with the regional characteristics of the nation ". These people will be appointed by the Berlin club. Even the theoretical possibility of the appearance of the Berlin club with all the attendant was enough to derail the euro. For now the euro has lost 0.43% against the U.S. currency. Since the beginning of the year the euro, according to Bloomberg Correlation-Weighted Indexes, lost 8.8%. For comparison: the dollar has risen by 5,1% and the yen - 10%.

Paula Maria von Hafe Teixeira da Cruz (n. Luanda) é uma advogada portuguesa: “Foi o medo dos tribunais que juntou PT e Telefónica”

Cavaco answering to Crugman statements say that ‘The Portugal will not be out of Euro’. Economico with Lusa. 12/07/10 13:56. "I do not believe that Portugal ever leave the euro zone," Cavaco Silva said today in reaction to statements from Paul Krugman. "I studied much of the eurozone, have published books on the euro area, I do not believe that Portugal ever leave the euro zone, nor do I believe that Greece will leave," said the head of state, Anibal Cavaco Silva, when asked on the statements of Paul Krugman, Nobel Prize for Economics. In an interview published yesterday in El Pais, Paul Krugman said he believed "there is a plausible possibility that Greece was forced to leave the euro" and found that infected all other eurozone countries, with special reference to Portugal. "I guess it's a lack of knowledge of what is in fact the euro zone, I think it would be a disaster for Europe, it was not for Greece, Portugal, to Ireland or Spain, would be a disaster for Europe is no accident that this building is the European Monetary Union would collapse, "he said Cavaco Silva, who spoke to reporters on the sidelines of the Fourth round of the Roadmap for Innovative Local Communities. Stressing that one should not "go that way" because, in his opinion, this is "an entirely unlikely," the President said he believed the "wisdom" of European leaders not to allow this to happen. "We really rely on the euro, I am an advocate of the euro, the euro gives us a hand remarkable that we do not always realize," he noted. A "help", the head of state, passes through each country do not have to worry about the devaluation of the currency, but also by reduced costs for currency trading. Also, he said, the doors of international financial markets were open. "It is known that the advantages for a small country belonging to the euro zone are much larger than a big country," also admitted, recalling that the transaction costs with weak currencies was always much higher than the transaction costs with currencies.

Prisoners in Euroland. July 2, 2010 | 24:32. Takatoshi Ito. Americans (and some Asians) often call the eurozone to "Euroland". Given the similarity with the word "Disneyland", a fantasy land, turns out to be a much more ironic than helpful. Americans (and some Asians) often call the eurozone to "Euroland". Given the similarity with the word "Disneyland", a fantasy land, turns out to be a much more ironic than helpful. Since the euro was conceived, skeptics (mostly Americans) and supporters (mostly European) heatedly debated the initial economic conditions of the single currency, the benefits for their members and their political viability. The Asian economies that promote regional integration in Asia watched this debate with surprise, since the line was not based on economic philosophy, as "Neoclassical vs. Keynesian" or "liberal vs. conservative", but a geographical division transatlantic. The American economists, led by Martin Feldstein, have argued that the economies of the eurozone are very different, with many institutional differences and rigid labor markets, to form an optimum currency area. Furthermore, a common monetary policy combined with an independent fiscal policy is doomed to failure: the first increases unemployment in the weaker economies because the interest rate reflects the average indicators of the Eurozone (where Germany and France have a large weight) but keeps costs low enough debt to governments of weaker economies can finance the fiscal profligacy. Supporters insist that the European single currency is really based on strong political desire to maintain the eternal peace in Europe. Even though in principle the Eurozone does not meet the pre-economic conditions, economic variables will converge in the future. The middle-income countries and low prices and wages would grow faster with an inflation rate higher. The Stability and Growth Pact would ensure fiscal discipline. During the first and prosperous decade of the eurozone, the European supporters appeared to have won the debate. The eurozone countries have grown at a fairly high rate, income per capita and price levels have converged, the spreads of interest rates declined and there were occasional small market turmoil.Several countries have integrated successfully, the eurozone after fiscal and monetary reforms. And more are waiting to do. The euro became the second most important currency of the international financial system. The Asian crisis noted the Greek with a quiet sense of revenge. In 1997, many thought that the Asians who suffered speculative attacks on Asian currencies at the time were unjustified, the Prime Minister of Malaysia, Mahathir Mohamad, to lead the charges against the speculators. In response to the crisis, Asians have tried to create the Asian Monetary Fund, which would help any country reached the crisis, providing massive liquidity. It was hoped that the mere announcement of the creation of this fund halt the attacks. But the International Monetary Fund and the United States rejected this idea. Now the Europeans are to establish the International Monetary Fund - to name who might oppose - in cooperation with the International Monetary Fund. But announcing a program of the International Monetary Fund (with support bilateral cooperation) was not that calmed the markets in South Korea and Indonesia in 1997. In the end, South Korea was rescued coordinated through refinancings and forced loans from foreign banks (why not try the same in Greece?) And Indonesia experienced a financial turmoil because the country failed to meet most of the conditions of the Fund IMF (a new and kinder IMF dispensed with such requirements in the case of Greece). There are two differences between the 1997 Asian crisis and the crisis that currently live in Greece. One has to do with who borrow money. In Greece, the problem has to do with public deficits (most of them hidden for a long time), while the problem in Asia was the private sector debt, which grew out of control. The second difference has to do with the system of exchange rates. The United States, the International Monetary Fund and others have encouraged Asian countries to increase the flexibility of exchange rates.The depreciation that followed the crisis helped to speed recovery by increasing exports. In fact, since depreciation is a key instrument to set a quick economic recovery, why not invite Greece to leave the Eurozone? After all, by staying in the euro, the country is impossible to register a rapid recovery based on increased exports. The other way to achieve a reduction in real terms is through a massive deflation of domestic prices, together with a severe recession. Moreover, all the structural problems of Greece (weak tax base, a large number of public officials who receive bonuses and generous pensions) can not be sustainable in the Eurozone. But solving any of them will be extremely difficult and if these problems were not solved in Greece, and other troubled countries of the Eurozone, those countries will follow the same trend. Even the International Monetary Fund may not be enough to solve the problem, because those who are now in the rescue team may need help in the future. Any financial crisis seems a liquidity crisis for those involved in it - or close to it. The same attack is similar to a solvency crisis for those who are geographically distant. And crises are repeated in different regions, driven by similar economic and financial mechanisms, although details are different. How to write Carmen Reinhart and Ken Rogoff, all people who deal closely with a financial crisis thinking "this time is different." But the evolution of the Greek crisis is different from the Asian crisis. Europeans are now a regional monetary fund, the Asians wanted but might not have. The political will to protect the euro is strong - perhaps strong enough to overcome concerns about moral hazard. Keep the Eurozone intact, regardless of cost, has become the only viable option in Europe since the single currency was adopted. So while the "Euroland" is in danger of collapse due to the Greek crisis, economists point out the enigmatic last line of the Eagles song "Hotel California" 70s: "You Can check out any time you like, But you Can never leave. " This phrase echoes while Germany and Greece have come a common destiny. Their concerns are a good lesson for those Asians who continue to think of further economic integration through a single currency. Takatoshi Ito, an economics professor at Tokyo University, is a former vice finance minister for the Japanese International Affairs and Senior Adviser in the Research Department, International Monetary Fund.

(much to my relief)

2010-07-12T01:41:00.001-07:00

Like I was mentioning for couple times, - I was working like a Responsible for Central and Eastern Europe Marketing Department of Partex CPS. After leaving for “private sector”, in a couples of years, this firm (created in 1924, after the WWI), - cease to exist. I have been detailed during the last decades, to describing all the reasons of “why this happen”. The way, that such big intellectual heritage, by some hand, was simply lie-out. So what, if the bulk of all political, human and economical reasons were big? So was the Hitler… This case only gives us the result. Which is, - ‘not strange to see me presently only like an emotional and financial wreck’. It’s secondary if I still seeing ‘who’s there just for a good times’. Also, not important how’s life come since the Partex CPS. Important is the striking similarities between the Partex CPS and the BP. Personally, - I have one word for you. Feed-up. And to put an end in this entire situation, that are killing me, that is bothering me for 15 years, that is a Total unemploy. I’ll opt by speak my mind, - I need the at least 115 000 of Great British Pounds per year in a “naked form”. Without the famous by-the-side “arrangements”. Without the “ver se tira cartola ou nao o respeitoso Senhor Barroso”. Let’s be honest, - this kind of the opening-up in the career opportunity, (much to my relief), are setting me actually to a plum position, which is at least quite decent.

Japan PM: to stay after upper house election loss. 2010-07-11 15:58 (UTC). TOKYO, July 12 (Reuters) - Japanese Prime Minister Naoto Kan said on Monday he wanted to stay in his job despite a mauling in upper house elections, saying he would like to continue to responsibly take policy steps. Voters dealt Japan's government a stinging loss the election for parliament's upper house, a reverse that may thwart its ambitions to curb the country's massive public debt and threatens the premier's job.

PetroChina open to closer ties with BP. (AFP) – 1 hour ago. 12/07/2010 07:13:32. BEIJING — Chinese oil giant PetroChina has said it would "welcome" closer ties with BP as the British energy group battles to contain the massive oil leak in the Gulf of Mexico, a report said Monday. Mao Zefeng, head of investor relations at PetroChina, told the Financial Times that the company's first reaction to BP's problems in the Gulf of Mexico was to see how it could "help BP to quickly fix the problem". "We contacted them to see if there is anything we can help with in terms of engineering or technical help," Mao said. The official declined to discuss possible financial assistance, saying: "We have no comment on market rumours. But if there was some opportunity to work more closely together, we would welcome that." Mao and other officials at PetroChina were not immediately available to comment on the report. Chinese energy companies have this year invested billions of dollars on overseas acquisitions, including a deal by China's top refiner Sinopec in April to acquire a stake in a Canadian oil sands project for 4.65 billion dollars. PetroChina -- which is listed in New York, Hong Kong and Shanghai -- said in May that it would invest 60 billion dollars abroad over the next decade in order to secure much-needed resources to fuel China's red-hot economy. BP acquired a stake in PetroChina when it went public in 2000. In 2004, it sold those shares, which at the time accounted for a two percent equity stake, according to statements from the two companies. The two firms have a joint venture to operate petrol stations in the southern province of Guangdong. The Financial Times said PetroChina was unlikely to make a full bid for BP due to political considerations but could invest in further joint ventures.

Exxon hunts BP. Energy Industry: speculation about takeover. Süddeutsche Zeitung GmbH 07/12/2010, 07:58. The British oil company BP is easy prey: Two U.S. competitors seem to show interest in acquiring the beleaguered firm. One of them is Exxon.But BP has other plans. The oil disaster in the Gulf can waver BP - and the competition takes on the weather. U.S. rival Exxon apparently is considering the acquisition of the ailing group. As the British Sunday Times reported, companies could be that of the U.S. Government give an assurance that an offer to buy BP regulatory hurdles in the way would not. And not only that: even one other U.S. company should Washington have indicated that a takeover was possible .. These are presumably acting at Chevron, told the paper. Possible partial sale to Apache. Remains uncertain however, whether the groups would perform such a step. The report shows that BP is also looking into the sale of billions in activities at the U.S. company Apache. The two companies were negotiating business parts worth twelve billion dollars, including BP's stake in an oil field in Alaska, told the newspaper. BP is due to the oil spill in the Gulf of Mexico and struck the resulting, almost as predictable costs. Therefore, it is speculated in recent weeks about a takeover of the group. In early July was reported from circles that BP with numerous state funds, including Abu Dhabi, Kuwait, Qatar and Singapore, have talked about an alliance to fend off a takeover. Meanwhile, BP's engineers are trying to stop a new start in the swirling eleven weeks since the oil well in the Gulf of Mexico. This desire to place with the help of remote-controlled robots, a 100-ton Absaugzylinder on the leak. Tour de force: 'Top Hat 10 " The experts hope to catch almost all emerging and pump out oil to ships. The earliest on Wednesday was clear, however, whether the action "Top Hat 10" was successful, or - as several attempts before - once again end in failure, they say. In a first step, the technician dismantled to another container on the leak, which had been at least part of the raw oil collected. As a result, the crude oil currently flowing unimpeded into the sea completely. The experts expressed cautious optimism. "We are pleased, as it precedes," said BP's top manager Kent Wells. The whole operation should be between four and last seven days. "

GAS PIPELINE: Nabucco consortium wants to break Gazprom. WELT ONLINE. 08:38|. The energy giant Gazprom wants to undermine the pipeline project of European countries. With Nabucco want the country reduce its dependence on Russia.The Russian gas giant Gazprom wants to prevent the energy companies, initiated by several European Nabucco pipeline. Gazprom deputy chairman Alexander Medvedev had invited the Essen RWE group, to participate in the Nabucco, South Stream project competitors, reports the Handelsblatt, citing negotiating circles. South Stream is a project that essentially by Gazprom and Italian energy group ENI is being driven. Would succeed in Gazprom, RWE break away from the Nabucco consortium, the project would be to hold no more, the paper adds.Gazprom to selectively use the current weakness of the Nabucco consortium. Nabucco will bring gas from countries such as Turkmenistan and Azerbaijan to Western Europe. Negotiations with potential suppliers to make difficult. Despite years of efforts, the Nabucco consortium show no reliable delivery commitments for the pipeline. As long as this is not the case, the construction of the 3300 km long pipeline, which will lead the Turkish eastern border to Austria not start. Nabucco is still applicable under the present plan by 2015 the first gas supply to Western Europe. The pipeline, whose construction will be welcomed by the EU would reduce dependence on Russian gas: A quarter of the natural gas consumed in Europe comes from Russia, in Germany the figure is as high as 37 percent. Gazprom aims against the South Stream project aims to reduce the impact of the pipeline transit countries Belarus and Ukraine. Both countries had in recent years been frequent disputes that led to serious disruption of gas supplies. The wiring of South Stream deal the two countries.

BP expands Sale.

2010-07-11T15:50:00.001-07:00

BP expands Sale. BP may sell assets to $ 5 billion more than promised, but the market is discussing a possible takeover. 07/12/2010, In mid-June, BP promised to reserve $ 20 billion in case of payments in connection with the liquidation of consequences of the accident in the Gulf of Mexico. The company will sell non-core deposits of $ 8 billion, cut capital costs by $ 2 billion and freeze dividends ($ 7.8 billion). BP plans to sell additional assets for another $ 5 billion, wrote Friday in The Times. According to the press service of BP, plans to remain the same - the sale of assets by $ 10 billion a year. BP is now in exclusive talks with Apache Corp. to sell assets worth $ 12 billion, including shares in North America's largest oil field - Prudhoe Bay in Alaska, now the parties agree on deal structure, according to The Sunday Times. Representatives of BP and Apache is not commenting. BP is operator and owns approximately 26% of the project Prudhoe Bay, where a year produced 20 million tons of oil equivalent. This is one of the most valuable production assets BP, but its fate could affect BP negative attitude towards the U.S., says analyst "Troika Dialogue " Valery Nesterov. In 2006 on the Prudhoe Bay oil pipeline ruptured and leaked more than 1000 tons of oil, and BP was fined $ 20 million. Last week, BP began seeking investors to help it protect against absorption, and Middle Eastern investors have already made a proposal. Yesterday, The Sunday Times reported that the White House would not mind if Exxon or perhaps, Chevron will try to buy BP for $ 150 billion, "Exxon negotiator expressed serious interest. It's too early to talk about the proposal, but that is all there is "- said The Sunday Times ranking source in the oil industry. The deal would create a company with a capitalization of over $ 400 billion On a possible takeover by BP Exxon recently told an analyst at JPMorgan Fred Lucas. In his opinion, Exxon can afford to offer for a BP more than 50% premium over the market ($ 133 billion for the company). Assets of BP is also interested in mining giant BHP Billiton, said Bloomberg analyst at Morgan Stanley Campbell, Craig. On Wednesday, CEO of BP , Tony Hayward, offered to buy 10% stake in Crown Prince of Abu Dhabi Mohammed Bin Zayed Al Nahyan, broadcast Dow Jones. BP representative confirmed the meeting, reiterating that the company has no plans an additional issue. It has 1.85 billion of treasury shares, according to the materials of the Securities USA. On Friday, the package was worth $ 10.2 billion About 90% of these securities is not used in the programs of distribution of shares among employees and can be sold, says FT. At this stage, the absorption of BP is unlikely, says Nesterov, but if the total damage from the disaster BP reach $ 50-70 billion, even the sale of treasury shares will not save her from the absorption.

One word: - Scandal.

2010-07-08T08:11:00.001-07:00

One word: - Scandal.

"We hope that the administration of PT safeguard" the interests of shareholders. July 8, 2010 | 14:31. The Government expects the board of PT "safeguard" the interests of shareholders in the round of negotiations that should be being initiated. "We see a positive statement of Telefónica to providing" what should have been done from the beginning: to negotiate. It was so Pedro Silva Pereira commented on the statement of an official of the Spanish operator who said that there willingness to negotiate. Telefónica "is willing to maintain dialogue with Portugal Telecom and open to find the best solution for the situation," a source told Lusa the Spanish operator. "We see this as a positive statement," but now "only indicates a willingness not yet produced a material change," stressed the head. "The Government has spoken out in general meeting and said he had to say on the proposal [Telefónica]: failed to offset the strategic interests of Portugal Telecom to Live" and "if the proposal [that appears] is not different, the government's position may not be different from that which formalized the general assembly, "noted Pedro Silva Pereira. "We hope that the administration of PT safeguard" the interests of shareholders, cautioned. And it was peremptory: "There is no shareholder of Portugal Telecom is unaware that the special rights of the State at that company," with investments being made with knowledge "full rights". Pedro Silva Pereira said not even believe someone thought that "there [these special rights] would not be used."

PHOTO DE MEIA-CARA: Barroso "applauds" the decision of the European Court of Justice. July 8, 2010 | 11:05. The European Commission President Jose Manuel Barroso today welcomed the decision with undisguised satisfaction of the Court of Justice to consider illegal the special rights (commonly called "golden shares") of the Portuguese state in PT. In a press conference today in Brussels, Barroso said that "golden shares are anti-market" and against the principle of free movement of capital, thus sharing the position taken by the European Court of Justice. In the opinion of the Court, expressed this morning, the veto rights of Portugal in the deliberations of the PT "attribute to the Portuguese influence on decision making of the company could discourage investment by operators from other Member States" . According to Bloomberg, the decision may open the path leading to the acceptance of a proposal from Telefonica to buy the Brazilian operator Vivo.

Present for Mervin King.

2010-07-08T02:21:00.000-07:00

Present for Mervin King. Exactly about this, “non-profitable” ‘Club de Paris’ I speak about. In one sense my mind can be soundly clear (the markets, financial “arrangements”, geo-political play/s, business and/or traffic of influences). It’s accurately also, that here some subtle pressure have been applied upon me. (The my recent play to catch-up with an old friend, “colleague” and “co-worker”. Even when I “don’t understand” completely a few situations, - I still have a personal angles the appreciation for some going-on’s. Particularly, if this wheels around the shared possessions and finances. (The face of Bettencourt). Subconsciously, - I’m already know the answer for what I’m looking for. (The dream was in four points: 1) The French stewardesses; 2) The eight bullets and eight empty ‘slugs’ casings; 3) A new revolver for Mervin King like a present; 4) The City Square;). Well my friends, I continue to be “hopeful” like always, even in the face of incredible obstacles. My belief, hope and endless affection are not in vain. This time brings more reason to expect and more “tools” to get the kindness I desire, - to win respect that I crave.

1). Truth and lies in oil-skimming statistics. Felix Salmon. JUL 6, 2010 10:13 EDT. Kimberly Kindy has an excellent and very sobering report on the monstrous discrepancies between the various numbers being bandied around when it comes to the amount of oil that BP is able to skim off the Gulf of Mexico every day. As commenter hsvkitty points out, BP only got the permits to start drilling at the Deepwater Horizon site in the first place because the Minerals Management Service believed their statement that they “could recover 197 percent of the daily discharge from an uncontrolled blowout of 250,000 barrels per day”: a March report from BP said that it had the capacity to skim and remove 491,721 barrels of oil per day. Even after the explosion, BP was still insisting that it had “skimming capacity of more than 171,000 barrels per day, with more available if needed.” So far, it has managed to skim less than 900 barrels per day. Add burn-offs, and you get to just over 300,000 barrels in total, over 77 days — that’s less than 4,000 barrels per day. BP’s reaction to being massively wrong, by a factor of over 100, is to grab onto the biggest numbers it can find — to try, in other words, to deal with the optics, rather than the reality. Take the much-vaunted super-skimmer, for instance. Some reports say that it “can collect up to half a million barrels of oil a day”, but it’s much more accurate to say that it can theoretically collect that many barrels of contaminated water, which is only about 10% oil. And, as Kindy drily notes, “thus far, it has been unable to produce those results in the gulf.” BP knew full well that a blow-out at the Deepwater Horizon site would involve oil bubbling up to the surface from miles below sea level, rather than being spilled directly onto the surface from a tanker. But it never seemed to stop to think that much of the oil would never surface. BP also said that much of its skimming capacity would come from outsourcing skimming operations to Marine Spill Response — but BP never asked MSR whether they could hit its marks, and neither did MMS, when BP submitted its insanely overoptimistic numbers. All of which is a sign of the knee-jerk credulity that most of us exhibit when faced with a large and seemingly highly accurate number. 491,721, you say? Well, that must be true — or at least in the ballpark. It would be interesting to compare that number with other oil companies’ projections of their oil-skimming capacity in the Gulf. Their rigs haven’t exploded, of course, but what did they say they could skim off in the event that the unthinkable were to happen? In hindsight, it seems that any number over a few thousand barrels per day would clearly have been a massive overestimate. But of course the bigger the number submitted, the easier it was to get the necessary approvals. You can see why BP exaggerated so much, and why there would have been enormous incentives for its rivals to do likewise.

2). Israel's H1 trade figures up. Polished diamond exports from Israel rose 92% in the January - June period, compared to the same period last year, according to figures released by the Ministry of Industry, Trade and Labour. In total, Israel exported $3 billion worth of polished during the January - June period. This compares to $1.6 billion in the same period last year. Polished imports rose 105% in the first half. Rough exports during the first half of this year totalled $1.6 billion, an increase of 104% over the 2009 January - June period. Rough imports soared 113% compared to the first half of 2009 to $1.8 billion.
The United States remained the main export destination for polished during the first half of 2010, followed by Hong Kong, Belgium, Switzerland and India.

3). L'Oréal Affair Reaches Sarkozy. Questionable ties with billionaire L'Oréal heiress Liliane Bettencourt have put French Labor Minister Eric Woerth at the center of a major political scandal. New accusations this week have drawn President Nicolas Sarkozy into the affair. The allegations could threaten the restructuring of the pension system that are the heart of Sarkozy's planned reforms. At times, there must have been something like a run on the salon of the villa on the outskirts of Paris. High-ranking conservative politicians would flock to the home to obtain cash-filled envelopes directly from the hands of the Bettencourts. Sometimes it was €10,000, sometimes €20,000, but even as high as €50,000 or €100,000. In this discrete manner, the billionaire family at the helm of the L'Oréal cosmetics empire put their stamp on French politics. The latest twist in the case came on Tuesday, when the French website Mediapart published claims by a former accountant for heiress Liliane Bettencourt, who answered police questions about missing ledgers in the billionaire's books last week. Claire T. then shared her revelations with the site. She claims that the happy recipients of the cash gifts at Bettencourt's palatial home were prominent conservatives. At the time the gifts were allegedly given, French President Nicolas Sarkozy -- then mayor of Neuilly-sur-Seine, the well-heeled Paris suburb where Bettencourt lives -- was a frequent visitor. The sensational details about the Bettencourts and their relations with France's political leadership come at a bad time for Sarkozy: Up until this week, the architect of his important pension reforms, Labor Minister Eric Woerth, had previously been the highest official entangled in the affair. Élysée Palace, the president's office, has strenuously denied all claims of wrongdoing. It has also dismissed claims that Sarkozy obtained cash from the Bettencourts as "totally false." On Tuesday, Sarkozy described the allegations as "libel that aims only to smear, without the slightest basis in reality." And Woerth said he was "outraged" by the claim and that he has "never received the slightest euro that wasn't legal." ettencourt herself has said she acted within the legal limits with donations she made to Sarkozy's Union for a Popular Movement (UMP) party. Embarrasing New Revelations. Still, the government has been burdened by the almost daily series of embarrassing new revelations in the scandal. Sarkozy had hoped that the allegations about the possible participation of his labor and treasury ministers could be whitewashed through the firing over the weekend of two state secretaries embroiled in an expenses scandal. But the public glimpse of the incestuous relationship between money and power still threatens to shake the country's leadership -- because, for the first time now, the president is being personally drawn into the scandal. Claire T. has claimed to police that she herself was responsible for withdrawing the cash from a branch of BNP bank in Paris' 16th arrondissement. At times, she says, the accounts would be replenished with cash from Switzerland -- but that was primarily the work of the Bettencourt's financial advisor Patrice de Maistre. Among those T. alleges profited from the generosity were senior leaders of the conservative and now defunct Rally of the Republic (RPR) party, including former Prime Minister Édouard Balladur or, more recently, UMP party treasurer Woerth, who she claims received a generous €150,000 for Sarkozy's presidential election campaign. "Sarkozy got his envelopes, too," Mediapart has quoted the accountant as saying. "That usually happened after the meal, and everyone in the house knew it." Sarkozy had made frequent visits to the Bettencourts. "It happened in a small living room on the ground floor, and because the Bettencourts had hearing problems, they spoke loudly to the politicians and you could understand everything," she claims, according to the news site. It will be difficult for prosecutors to confirm Claire T.'s claims. According to the bookkeeper, the amounts given out were noted in three different account books, and any cash political contribution was labeled "Betencourt" so that Claire T. "would leave no traces of the contributions to politicians." Mediapart director Edvy Plenel said that Claire T. is "aware of the seriousness of her allegations." Explaining her motive for coming forward, he said: "She is upset about the mixing of public and private interests and the highest national level -- right up to the presidency." Love, Money and a Lot of Trouble. Initially, the Bettencourt saga had little to with politics. Instead, love was behind it -- the love and affection an 87-year-old billionaire has for a man 25 years her junior, the photographer François-Marie Banier. But it had a money hook, too. It has been reported that, since 1995, the wealthy L'Oréal heiress has given the gay photographer gifts worth somewhere between €600 million and €1 billion ($750 million and $1.25 billion), though no one can say exactly how much for sure. "That's only a few percent of her total wealth," the widow's attorney points out, adding that Bettencourt is free to spend her money as she pleases. For his part, the photographer says: "All of it is nothing compared with what I have been allowed to learn from her." Banier has been a family friend since 1987. At the time, Bettencourt's husband, André, was still alive, and the three of them would vacation together. In an interview, Banier said he always prized Liliane's independent spirit. She, in turn, financed his photo exhibitions and even learned to appreciate rock 'n' roll for his sake. But shortly after her father died in November 2007, Françoise Bettencourt-Meyers, Liliane and André's only child, filed a legal complaint against her mother's companion, claiming that he was exploiting the elderly lady's alleged mental frailty to fraudulently enrich himself. At first, the case was suspended. But, then, one of the family's butlers hid a recording device under Liliane Bettencourt's desk, with which he taped conversations she had with her financial adviser. In May, the butler handed over the recordings -- 28 CDs holding almost 100 hours of conversation -- to Françoise, which in turn were anonymously leaked to the French news website Mediapart. From Family to National Affair. Since then, the recordings have not only become a major headache for the widow and the photographer; they have also become a threat to both Woerth's political career and the country's planned pension reform, which Sarkozy hopes will become the hallmark legislation of his term in office. Woerth, who previously served as budget minister under Sarkozy, is the man in charge of pushing the president's controversial legislation through.
Knowing full-well that this push will entail his biggest political battle to date, the labor minister for months now has been consulting experts, having financial models calculated and convening roundtables with representatives drawn from various civic organizations. Failure to push these reforms through, on the one hand, could severely hurt Sarkozy. On the other, if the president, unlike his predecessor, succeeds, he could prevent France's pension funds from becoming even more mired in a spreading pool of debt that is already in the billions. Now, everything could hinge on the allegations made by Claire T. and just one short bit of the secret recordings made by a butler who could no longer stand to watch his boss being exploited. The recordings not only uncovered that Liliane Bettencourt had Swiss bank accounts holding a total of €78 million, but also that she owned an island in the Seychelles that wasn't one of her declared personal assets and had dubious transactions in Liechtenstein. They also revealed how Sarkozy and his staff had gotten directly involved in the legal proceedings that Bettencourt's daughter set in motion.
Uncomfortably Close. Furthermore, the tapes document that there were ties between the wealthy widow and Woerth, that the ties were, in fact, very close -- and that they were perhaps even a bit too close. Until her very recent retirement, Woerth's wife, Florence, worked at Clymène, the investment house in charge of administering Bettencourt's assets. Likewise, the minister is believed to have assisted Bettencourt in her efforts to buy certain property, to have personally nominated her financial adviser, Patrice de Maistre, to receive the Legion of Honor, one of France's highest awards, and to have received several checks from the L'Oréal heiress for his political party, UMP. None of this squares with the image Woerth has always cultivated for himself: that of a matter-of-fact, capable and upright man. This, of course, is the same man who received information about several thousand French tax dodgers who had hidden their money in Switzerland, and handed it straight over to the public prosecutor's office.
Martine Aubry, head of the left-leaning Socialist Party (PS), has called for the creation of an investigative committee in parliament, although the soonest it could be convened would be in the autumn given that the conservatives hold the majority. That's why Aubry spoke directly at Sarkozy, saying: "The president of the republic must, with all clarity and transparency, explain (the events) and as quickly as possible." Otherwise, "today's crisis of confidence could become a political crisis." And Ségolène Royal, head of the Poitou-Charentes region and Sarkozy's challenger for the Socialists in the 2007 election, added: "Nicolas Sarkozy said he would clean up the Paris suburbs with a Kärcher (the brand name of a high-pressure hose), but he will need a whole lot of them in light of what is happening inside the Sarkozy System today." On Wednesday, a French judicial offical said that the prosecutor's office in the Paris suburb of Nanterre has opened a preliminary investigation into the allegations. A Man with Two Hats. Denials or not, one thing is already certain: Woerth doesn't always make a clear distinction between his ministerial duties and the interests of his party. Of course, that's not exactly a rarity in France; but, in this case, it might also lead to his demise. In early 2008, for example, Woerth hosted a reception in a government-owned palace on the Rue de Lille that looks out over the Seine and the Tuileries Garden -- and whose own garden is the final resting place of Coco, the last dog of Queen Marie-Antoinette. The guest list for the evening included a dozen bankers, industrialists and real estate agents as well as de Maistre. Robert Peugeot, the heir of the automotive fortune, made an appearance as well. In this case, however, Eric Woerth was not hosting the party wearing his hat as budget minister but, rather, that of treasurer of the ruling UMP party. For years, he has played this double role with a certain dexterity: By day, he has collected taxes and administered the federal budget; by night, he has solicited donations for his own party -- even from the tax cheats. Since the butler's revelations, the French have been asking themselves questions about just how much Woerth's ministerial obligations have conflicted with those of being a party operative. Could Woerth have somehow impeded the Justice Ministry from looking into Liliane Bettencourt's hidden accounts? Could he have used the widow to help avoid paying some taxes of his own? And shouldn't he have discouraged his wife from working for Bettencourt? Last Tuesday, Nicolas Sarkozy defended his minister, saying that "Eric is honesty incarnate." That same day, French Prime Minister François Fillon stood before Woerth in parliament during the last hour of questions before the summer recess and accused the Socialists of launching attacks that "assault the Democratic principles of the republic." Speaking for himself, Woerth told parliament that he is the victim of a witch hunt, that he has never shared sensitive, job-related information with his wife, and that he has done nothing worthy of blame. By that time, though, it had already been a while since the Mediapart website and the weekly magazine Le Point had published the incriminating statements from the recordings. Since then, the architect and chief negotiator of Sarkozy's most ambitious project has been doing everything he can to limit the damage to his reputation. And it's not like he doesn't already have enough on his hands trying to revamp France's ailing retirement and pension system. France's Pension Predicament. Each year, the gap between what France has set aside in its coffers to pay retirement entitlements to its aging population and what it has actually obliged itself to pay is growing. Indeed, if the current system remains unchanged, it is estimated that, by 2018, the shortfall in the budget could swell to €42 billion. To counter this danger, in addition to introducing a series of tax hikes, the government hopes to gradually raise the retirement age by two years. According to its plan, beginning next summer, the government will bump the retirement age up by four months each year so that it can eventually reach 62 by 2018. Even then, it will still be low when compared with the European average. Still -- despite the global economic crisis, rising unemployment and all the rigorous austerity measures -- most French are opposed to the plan. In fact, according to a recent poll, 63 percent are opposed to having to work any longer than they already have to. They view Woerth's reforms as an assault on their hard-won gains, and some of them even see them as the beginning of the end of the French welfare state. In their eyes, 60 -- the legal age of retirement introduced by President François Mitterrand in 1983 -- is sacrosanct. Two weeks ago, according to union estimates, up to 2 million workers all across France participated in a mass protest against the reforms that would have made the Jacobins proud. They bore banners proclaiming: "Forty years of work is already too much." At the helm was Martine Aubry, the leader of the Socialist Party (PS), who has already pledged to repeal any and all of the retirement-reform measures should her party come to power after the 2012 elections. On her side are six unions, ranging from the Force Ouvrière to those representing communists, civil servants, teachers and railway employees. In other words, half of France. La Belle Vie, But at a High Price. At the same time, no one has any idea how France's pension system can be paid for. The major reason behind the deficit is the fact that the French leave the active workforce much earlier than workers in other countries. According to a study published by the Organization for Economic Cooperation and Development (OECD), the average age for doing so in France is 58.7. In Germany, by way of comparison, the figure is 62.1. The second problem is that the French also live longer than others, which only compounds the financial strains on the pension system. The average person in the OECD's 31 countries enjoys 18 years of life after retiring. In France, that figure is 24 -- which is great for the French, but expensive for the state. Of course, you can partially attribute such longevity to healthy food, red wine, olive oil, good medical care and the like. But it also has something to do with having to work less.
On top of all this come the special retirement arrangements -- the so-called "régimes spéciaux" -- that have been negotiated for certain classes of workers, including firemen, train drivers and even, for example, working women who have had three children. Many of the workers belonging to one of these classes can already retire at 50. That means that they often have far fewer than 40.5 years of contribution to the general retirement fund behind them, which is the minimum number needed in order to be entitled to a full pension. These days, the French unions are also lobbying to have special provisions introduced for other classes of workers, particularly those required to perform hard physical labor, such as roofers, masons and shift workers. Both Woerth, who is in charge of labor matters, and Sarkozy oppose these efforts. If their reforms go through, special provisions will only be granted after occupational health physicians have carried out examinations that confirm a disability. Furthermore, the French are now suffering from what -- for them -- is a completely new type of occupational disability. In 2007, the most frequently diagnosed causes of work-related illness were depression and anxiety. "If you adhere to the traditional criteria for hard labor," says Monika Queisser, the head of the OECD's social policy division, "a lot of the affected people fall out of the (labor) system." As she sees it, the only way around this is to have people claiming such disabilities be individually examined by a physician. 'Bettencourtgate'
Of all of the reform efforts that Sarkozy has launched, pension reform is not only one of the most complicated, but also one of the most urgent. For a while, it looked like he and Woerth's efforts were on a guaranteed path to success. But then came "Bettencourtgate," the name the media has given to the scandal involving Liliane Bettencourt, her photographer friend, her billions and the labor minister.
While campaigning, Sarkozy once claimed that he wanted an "impeccable republic," one that had more efficiency and more transparency. But now he has a labor minister who is under constant fire. Last Friday, Woerth even had to defend himself against accusations of having personally approved a €30 million tax refund for Liliane Bettencourt in March 2008. His ministry responded to this charge by saying that a minister doesn't get personally involved in the tax returns of individual citizens, which other people are responsible for. "People are trying to shoot me down," Woerth had previously explained, "because I'm an easy target." "It's depressing," Bettencourt said last Friday during an interview on the evening news broadcast of the French television channel TF1. But, in this case, she was referring to her troubled relationship with her daughter rather than the political implications of the scandal. The 87-year-old widow wore white sneakers, white slacks, an apricot-colored sweater and a scarf around her neck. She spoke slowly, but clearly. During the course of the interview, an interesting detail emerged. While it is apparently usual for wealthy individuals in France to be audited every three years, Bettencourt claimed that she hadn't been audited in 15 years. In the meantime, Sarkozy has reacted with unusual reserve to the scandals. He has pledged a restructuring of his cabinet in the autumn, and he also appears to be preparing a direct television address to his people. July 13 has been named as a possible date -- the day in which pension reform will be debated in paraliament and the day before Bastille Day -- a day in which the French Revolution is celebrated with fireworks, music and dance. But Sarkozy has little to celebrate this year, and he has already cancelled the "Garden Party" traditionally held at Élysée Palace. That will save a whole €700,000. At least.

4). Fire on board of living stock carrier, Beirut. Thursday, July 08, 2010. Large plumes of smoke tore through the Beirut skyline Tuesday lunchtime, after a cargo ship unexpectedly caught fire in the Port of Beirut. The Almahmoud 2, a Panama-registered ship, which has been docked in Beirut since February, burned for approximately 40 minutes as six fire crews battled to put out the flames. The cause of the fire which originated in dock 9 has not been confirmed, but firefighters and army personnel at the scene attributed the blast to an overheating generator, which was reportedly left next to a full tank of diesel. But wellinformed security sources have blamed the blaze on the ship’s gasoline reservoir. The reservoir ignited when it came into contact with red-hot sparks emanating from a blowtorch, they told The Daily Star. The ship, which was traditionally designed to ferry motor vehicles, had been undergoing a process of conversion into a livestock carrier for the transportation of sheep and cattle and was being adapted to house livestock feed when it caught fire. The incident is not being regarded as suspicious and has been dismissed as human or technical error by port authorities who have declined to comment publicly on the blast. A United Nations Interim Force in Lebanon (UNIFIL) boat was docked at a nearby dock at the time but was in no way affected by the fire. The rear of the 6,100 ton freighter, built in 1986, was left charred by the blast, while the smoke forced its way to the front of the vessel, blowing out windows. The predominantly Lebanese crew was evacuated and allowed back on board after little more than an hour, while fire crews continuing to douse the hull. Although ambulance crews were called to the scene, no casualties were reported. Almahmoud 2 IMO 8417625 Flag Panama Vehicle Carrier build 1986 DWT 6183.

SAVE THE DOLPHINS?

2010-07-07T07:29:00.000-07:00

SAVE THE DOLPHINS? About some of the things I dislike. Why I don’t like them? What’s wrong with them? Some of my preferences are based on deep (moral) objections. These absolutely must be honoured and upheld. Others, though, involve much more minor matters of personal taste. They may involve things that I could probably learn to like if I really tried – or if I really had to. (For example: - The shot behind my ear, when I sleep). Might one such comparatively trivial annoyance now masquerading as a serious threat? Common wealth from Wellfair2Work, choose your battles carefully today.

Top Manager of the Savings Bank was killed in an accident. Infox.ru. Head of Central Russian bank Sberbank Andrei Uspensky was killed in an accident.Savings have not yet provided official information about the incident. Chairman of Central Russian bank Sberbank of Russia Andrei Uspensky was killed in a car accident, told RIA Novosti source in banking circles. Savings Bank promises to provide official information to the end of the day. Crednerussky Savings Bank provides services in seven areas of the Central Federal District - Moscow, Bryansk, Kaluga, Ryazan, Smolensk, Tver and Tula. Two months ago at the age of 37 years died deputy chairman of Sberbank Dmitry Davydov. Davydov, in charge of the retail unit, came to the central office of Sberbank in November 2008. The bank in its scope of work included supervision of the retail unit, development of operations with deposits, bank cards, loans to individuals, as well as exchange operations. On reaching the post of deputy chairman, Davydov said that the scope needs to be reformed. Before being transferred to Moscow, he served as chairman of the Volga-Vyatka Bank of Sberbank. Savings Bank - the biggest bank in Russia and CIS. Its assets amount to a quarter of country's banking system, while the share of banking capital is at a level of 30%. According to the magazine The Banker, Sberbank held 38 th place in terms of core capital (Tier I capital) among the largest banks in the world. The branch network includes 17 territorial banks, 783 branches and more than 19,5 thousand of internal business units. The founder and main shareholder of Sberbank is the Central Bank, which owns more than 60% of the voting shares and 57% in the share capital of Sberbank.

Surgutneftegaz has acquired 15% of GC "Video International. Quote.rbc. 07.07.2010
OJSC "Surgutneftegas"has acquired 15% of CJSC" Group "Video International", said the oil company. Previously, "Surgutneftegaz"shares were owned by Video International." Changes in the share of companies registered on July 5 2010. The amount of the transaction were not disclosed. Earlier, citing sources reported that the structure of the bank "Russia" and its founders - "Surgutneftegaz"and" Severgrupp Alexei Mordashov - can buy 45% of Video International for an amount of about 225 million dollars. In mid-May this year Federal Antimonopoly Service (FAS) of Russia reported having received an application to acquire up to 45% of the company Video International entities affiliated with the bank "Russia". The request had been marked by four companies of the buyer, including members of the group "Russia - SOGAZ," Abros and Management Company "Leader".Fourth buyer's Office did not call. The head of the FAS Igor Artemyev did not rule out the possibility that the transaction may require the consent of the Commission on Strategic Investments. Recall that the structures affiliated with the bank "Russia", whose largest shareholder is Yury Kovalchuk, a prominent businessman, after the completion of the transaction received a 100 per cent control over the advertising monopoly. As a result, Y. Kovalchuk became one of the most influential players in the Russian media market. Structures businessman owns "National Media", 68% of REN TV, 72% of the TRC "Petersburg - Fifth Channel, 51% of the newspaper" Izvestia ", 49% ID" News media "(newspapers," Your Day "," Life for the whole week ", Journal of Heat", Internet portals and Life.ru Marker.ru.) etc. OJSC "Bank" Russia "(St. Petersburg) was founded in 1990. The main shareholders are: entrepreneurs Yury Kovalchuk (28.334%), Dmitry Gorelov, and Nicholas Shamalov (the proportion of each 11.730%), OOO" Transoil CIS (8.890%), JSC Severgrupp (6,667%),Surgutneftegaz(6.587%) and OOO IK Abros (5.864%). In the banking group "Russia" includes the insurer - the group "SOGAZ", a group of leasing companies "Zest", "National Media", JSC "STC" and a number of service companies.

Egypt of 1:12:03 lot.

2010-07-06T10:33:00.000-07:00

Egypt of 1:12:03 lot. I’m keep wondering, will be Mister Obama with Mister Netanyahu asking me if I know the best and the biggest construction firm in all russia? I’ll answered them that I know. And that theirs address is: Moskva-City, Red Square, ul. Medvedev’s Portland 450 cement, No1910. And that they, - are very high specialized on settlements, moratoriums, and, in the building theirs wealth on the money from others pockets. The masters in misleading statements about bail-out cash payments made by the sranaia churka Chigirinski’s Oil Company in return for a set of real state assets… I would tell them a lot of analytic stuff in five languages. But, right now, - I will just complete ‘this day’ job.

Bus driver 'shoots dead six near Cairo'. Tuesday, July 6 02:33 pm. A construction firm bus driver shot dead six workers and wounded six others as he sprayed passengers with gunfire near the Egyptian capital on Tuesday, a senior local official said. "Six employees were killed and six others wounded before the other workers were able to overpower" the driver, provincial governor Fathi Saad said on public television. An official with Egypt's security services earlier told AFP that 16 of the passengers were wounded. The driver for the company Arab Contractors was taking 22 employees to their workplace in Giza when he stopped the bus at Meniel Shiha, 20 kilometres (12 miles) south of Cairo, and suddenly started firing, the official said. The assailant was arrested but no immediate word emerged on his motives, although survivors were quoted as saying the driver had been suffering depression due to a job transfer. Arab Contractors, one of Egypt's biggest building firms, said the incident took place about 200 metres (yards) from one of its sites. "The passengers were shocked to see driver Mahmud Taha Ahmad Sueilem, 54, pull out an automatic weapon from under his seat and start firing indiscriminately on the passengers," it said in a statement. The local governor said the violence was all the more shocking because Sueilem had "a good reputation."

Fire in building at the Park of Nations. A fire is taking place since shortly after 16:00 on a 13-story building under construction in the Park of Nations, on Avenue D. John II, separating the Centro Comercial Vasco da Gama and Gare do Oriente.Are in place, fighting the fire,13 vehicles and about 50 firefighters. Today at 17:06. Sparked a fire in a building with 13 floors located at Avenida Dom João II, lote 1:12:03 in the Park of Nations, at around 16.20. The fire is still active, according to deputy chief Antonio Vinagre, Sappers Firemen of Lisbon, but the situation is being monitored for 13 cars and about 50 firefighters. The origin of the fire is still unknown, but Antonio Vinagre advances that fire "broke out on the outside of the building, in the coating.

In the center of Moscow, carried out an armed raid on Citibank. РосБизнесКонсалтинг - ‎21 минута назад‎. An armed attack was launched tonight at the center of Moscow. Unknown robbed the bank, located at: Komsomol prospectus, 32. According to the officer of Information and Public Relations Internal Affairs of Moscow Gennady Bogachev, the raiders managed to escape. Now the scene is working task force. The amount stolen and the circumstances of the incident are established, clarified G. Bogachev. As we found out by RBC, to the specified address is Department of Citibank.The press service of the bank have confirmed the attack.

Further restrictions on Iran Air in new EU blacklist. The European Union has extended its restrictions on Iran Air in its latest list of blacklisted airlines, released today. Published: 4:00PM BST 06 Jul 2010. All except 23 of the Tehran-based carrier’s 64 aircraft are now banned from entering EU airspace. A Transport Commission spokeswoman denied that the move was related to UN sanctions imposed against Iran because of its nuclear programme. She said that the restrictions were extended after a safety audit by the European Aviation Safety Agency revealed that the airline was unable to properly maintain its Boeing 747, 727 and Airbus A320 aircraft. “We deal purely with safety requirements,” she added. “Our controls focus entirely on safety, nothing else.” The Surinamese carrier Blue Wings Airlines has been added to the list following a series of incidents and “serious deficiencies” uncovered during a subsequent inspection. Two Indonesian airlines – Metro Batavia and Indonesia Air Asia – have had restrictions lifted, although 45 remain on the blacklist, following a string of accidents in recent years. A total of 278 airlines remain banned, mostly small carriers from African and Asian countries. They include all airlines from Benin, the Republic of Congo, the Democratic Republic of Congo, Djibouti, Equatorial Guinea, Liberia, the Philippines, Sao Tome and Principe, Sierra Leone, Sudan, Swaziland and Zambia. Ariana Afghan Airlines is also banned, as are 18 Angolan airlines, 58 carriers from Kazakhstan, and 19 from the Kyrgyz Republic.

The credit crunch (continuation).

2010-07-06T03:53:00.001-07:00

The credit crunch (continuation). I don’t think that the intervention of medvedev was casual. Speaking a hours before the Astana meeting, I see this like his individual play. When they, (you know how I call them), exercise pressure (the obvious harassment), - even to hind it behind the ‘quick’ flirtation and long romantic invitations, - I see only no more than his new pent-house in Manhattan. With him, or with others, the message is simple; - don’t rely on talker promising do great things for you. Even these ‘powerful’ people with enormous resources can find that there are some factors they cannot adjust. The same is with me. The man who looking at the Ronaldo appeared son, or at the $12 million paid by Shachtar to buy-back (after receiving the $24 million), the one of theirs ‘players’, - are conscious of his limitations. Who also aware of the reason why, long ago had dropped a “plan” in favour of some easier way to proceed… Will be just great, if the “colleague”, (“friend”, “co-worker” or institution) feel motivated by the words. We’ll can to achieve a lot together.

Medvedev: mortgage rates. 02/07/2010, 13:58. Russian President Dmitry Medvedev believes that Russian banks continue to decline in mortgage interest rates. The economic recovery can’t come soon enough for Russia’s property developers and mortgage issuers with both waiting for signs of a pickup in the market.In 2009, mortgage lending slumped to 152.5 billion rubles but with some signs of a bottoming out late in the year and further signs of some life at the start of 2010. For 1Q 2010 mortgage lending totaled 60.8 billion roubles compared with 56 billion roubles lent in the first six months of 2009. Irina Veliyeva, the head of the credit institution ratings at Expert Ratings agency says a range of factors came together to help shape the rebound, with despite bad loans continuing to grow.

Ex-Sibir boss fined in Russian tycoon case. July 5 2010 22:43. The former chief executive of scandal-hit Sibir Energy has been fined £350,000 ($529,877) by the City watchdog for failing to disclose cash payments made by the company to one of its largest shareholders, the Russian tycoon Chalva Tchigirinski. The fine against Henry Cameron for market abuse, which will be announced on Tuesday by the Financial Services Authority, brings the curtain down on a corporate intrigue surrounding what was once the biggest company on London’s Aim alternative market with a value of £2.5bn. The FSA will say that Mr Cameron gave false and misleading statements about bail-out cash payments made by the Russian-focused oil company to Mr Tchigirinski in return for a set of real estate assets in October and December 2008. People close to Sibir said Mr Cameron agreed to the £350,000 fine as part of an early settlement with the regulator, and received a 30 per cent discount. Mr Cameron never stood to benefit directly from the property transaction. Mr Cameron and an FSA spokesman declined to comment. In February 2009, trading in Sibir shares was stopped. This was after it emerged that Mr Tchigirinski had in fact been paid $313.5m (£207m), rather than the $115m originally disclosed by Sibir – an act that the FSA believes gave a false and misleading impression about the value of Sibir shares. Mr Tchigirinski, not accused of wrongdoing by the FSA, held a 23.5 per cent stake in Sibir and was facing margin calls on borrowing secured against his shares as global markets tumbled after the collapse of Lehman Brothers.
Mr Cameron agreed to have Sibir advance $115m to Mr Tchigirinski in October 2008 as partial payment for the Sovietsky Hotel and the New Sovietskaya development in Moscow. Sibir then agreed a plan to buy a further $340m of real estate assets from Mr Tchigirinski in December 2008. The deals were withdrawn by the Sibir board, however, before the advanced payments had been disclosed. At the time Sibir justified the transactions with Mr Tchigirinski by arguing that a forced sale of his stake would have “devastated the share price and destroyed the existing shareholder structure, exposing the company to ruthless predatory activity”. Mr Cameron stepped down from Sibir after an internal investigation into the real estate deals was launched, with the company’s board later launching legal action against both Mr Cameron and Mr Tchigirinski in an attempt to recover $400m from the property deal. As part of its legal proceedings, Sibir secured an entitlement to the proceeds of Mr Tchigirinski’s Eaton Square house sale after a mortgage on the property was repaid, a person close to Sibir told the Financial Times in July last year.
Mr Tchigirinski sold the mansion for a knock-down price of £33m last year. In late 2009 Sibir was de-listed after Gazprom Neft, its partner in the Moscow oil refinery project, bought a 80 per cent stake in the company. The City of Moscow holds a 19 per cent stake.

Europäische Kommission prüft Schritte gegen Apple. 06.07.2010. Apple droht weiter Ärger mit der Europäischen Kommission. Der EU-Behörde ist das geschlossene System zwischen dem iPhone und dem App Store ein Dorn im Auge. Die Kommission könnte Apple zwingen, das System zu öffnen.
Die Europäische Kommissarin für die Digitale Agenda, Neelie Kroes, möchte die Interoperabilität zwischen verschiedenen Smartphone-Plattformenprüfen. Ein Problem könnte sein, dass Apple über den App Store kontrolliert, wer für das iOS welche Apps entwickelt und wie er dies tut. Durch die Geschäftspraktik konnte Apple bisher Flash vom iPhone und iPad fern halten und dafür sorgen, dass Entwickler ihre Apps nur mit dem Apple-eigenen Tool Xcode schreiben. Die Kommission könnte Hardware-Hersteller mit einem geschlossenen Software-System für den Zugang auf den europäischen Markt zwingen, Lizenzen zu vergeben oder das System eben ganz zu öffnen. Ziel ist, Innovationen und den Wettbewerb zu fördern.
In Zukunft möchte die Kommission dabei nicht nur gegen Unternehmen mit einer “dominanten” Position auf einem Markt vorgehen, sondern auch Schritte gegen Unternehmen mit einer “signifikanten” Marktstellung prüfen. Somit könnte Apple noch schneller in die Schusslinie der Behörde gelangen. In der Vergangenheit hatte die Kommission beispielsweise Microsoft gezwungen, eine Version des Desktop-Betriebssystems Windows ohne den Internet Explorer anzubieten.

After years of discussions Russia, Kazakhstan and Belarus have launched a customs union as a first step towards forming a broader EU-type economic alliance of former Soviet states.
Meeting in Astana, Kazakhstan on Monday, the leaders of the three nations signed a declaration stating that the customs union comes into effect on July 6. The meeting was held on the sidelines of a summit of the Eurasian Economic Community (Eurasec), a looser alliance that also includes Armenia, Kyrgyzstan, Tajikistan, and Ukraine.

Lloyds Banking Group agrees to sell control of finance unit. Updated Tuesday, July 6, 2010 12:53 am TWN, AP. LONDON -- Lloyds Banking Group has agreed to sell a controlling stake in its Bank of Scotland Integrated Finance business. Lloyds said Monday that Coller Capital, a private equity company, is paying 332 million pounds (US$504 million) for a 70 percent stake in the unit. Lloyds will remain as a minority partner with a 30 percent stake. Lloyds, which was bailed out by the British government during the financial crisis, says it has now disposed of 750 million pounds in assets.

K1 Global, K1 Fund and K1 Invest. Well, - just key…

2010-07-05T12:06:00.001-07:00

K1 Global, K1 Fund and K1 Invest. Well, - just key… It’s never easy handling out advice, whether it’s invited or uninvited. The worst, when this advice is directed to the person who’s some kind of YOUR tutor, coach, “and the Guru”. And you are just the member of huge “cambada dos inuteis”. Either way, the odds are good that I (i.e. ‘the receiver’) doesn’t actually take it, even after they’ve (see the previous pictures) spent at least one day (the yesterday) reciting to me theirs ‘best lines’. I speak here about the козлиная упрямость (i.e. the alien stubbornness), - which, by the third time are proposing to me, through the www.workinglinks.co.uk. Position to clean the future shit of Mitre stables. Maybe it’s because my face the colour of chestnut? I don’t know. But, when the “City of London Corporation” culture offer, to my valuation, the face of “ponta-de-lança” from the present German team, - I smell rats… It’s true, it’s me, who listen, then puckered brow, then shaking head – start to cite a long, drawn-out list of reasons why I (!!!!!) who’s just can’t put YOURS plan in action. It’s doesn’t matter if Repsol gas blow yesterday in Amarante. I read these 45 minutes after the sending through the internet my Blog “Oí?” (Guilty in that that I should put the “exclamation” in place of “interrogation”…) My “dear co-workers”, - isn’t this a good time to conclude a number of unpleasant cases? And, simply try to achieve the final address for the several of our important issues?

Amarante: wounded by explosion in critical condition. 05/07/2010 - 11:49 h. One of two wounded in an explosion yesterday at a restaurant in Amarante is in serious condition at the Hospital of St. John. Is "in grave situation" one of two men injured following an explosion at a restaurant in Amarante yesterday. The man, 55 years, with burns of 1. And 2. Degrees on the face, trunk and abdomen, adding 35 percent of the body, is hospitalized in Intensive Care Unit Service Emergency Hospital of St John in Porto, Lusa reported. The second wounded, "was admitted to the general surgery service," without further details. This man, 65, has also burns 1. And 2. Degrees, but to a lesser extent, particularly in the face, forearms and hands. The explosion at the restaurant said to have originated in a gas cylinder, and the building was totally destroyed on the inside and the fire spread to other areas near the establishment. "In principle, the explosion has been caused by a gas cylinder. It was a building with ground-floor, first and second floors. The fire spread quickly because the building is quite old, "reported the commander of the Volunteer Firemen of Amarante, Jorge Rocha. Military aircraft caught fire on takeoff in Romania, 8 people died. RIA "News " 05/07/2010, 19:58. Military aircraft caught fire on Monday during takeoff from the airfield in the city of Tuzla in the south-eastern Romania, told Reuters referring to local media. According to the TV Realitatea, on board the plane were 11 people. According to preliminary data, the incident killed eight of them, but the power this information has not yet confirmed. Other details of the incident were not disclosed.

BP Plc, seeking cash to meet the costs of the worst U.S. spill, is considering selling fields in Colombia, Venezuela and Vietnam, a person with knowledge of the matter said.BP may also dispose of its 60 percent holding in Pan American Energy LLC, Argentina’s second-largest oil producer, the person said, declining to be identified because the information is confidential. The London-based company has a gas field and pipeline in Vietnam and holds stakes in three production ventures in Venezuela. BP is a partner in Colombia’s two biggest oil fields, where production peaked in 1999. The oil spill in the Gulf of Mexico has so far cost BP $3.12bn (£2bn), the company said this morning as it emerged that the oil giant is demanding that its partners in the well pick up at least part of the bill. Last month, BP sent out demands for almost $400m to Anadarko and Japan's Mitsui Oil Exploration Company, both of whom are minority shareholders in the well. That is equivalent to 40% of the $1bn BP said it spent in May. Anadarko owns 25% of the well and Mitsui has 10%.

FRANCE: Alain Joyandet, secretary of state for overseas development and Christian Blanc, state secretary for the Greater Paris region stepped down on Sunday evening.

K1 fund manager kills himself. in Berlin. July 5 2010 16:37. A man arrested in connection with an investigation of an alleged €300m Ponzi scheme involving Germany’s K1 hedge-fund group has committed suicide, state prosecutors in the southern German city of Würzburg said. A spokesman for the prosecutors said Dieter Frerichs, managing director of K1 funds K1 Global and K1 Invest, shot himself on Saturday as Spanish police tried to detain him after a Madrid court ordered his extradition. Mr Frerichs had been arrested in Spain mid-April and released conditionally as part of a German probe into K1’s founder Helmut Kiener, who has been detained without bail in his home town of Würzburg since late last year. German prosecutors claim Mr Kiener and several associates defrauded small-time investors and Barclays, BNP Paribas and JPMorgan of more than €300m ($375m), funnelling funds into their own pockets via a web of entities. Since Mr Kiener was arrested last October, K1 Global and K1 Invest, based in the British Virgin Islands, have filed for liquidation. Liquidators Grant Thornton said in December that at least the latter fund looked to be worthless. Mr Kiener has repeatedly denied any wrongdoing while acting as an adviser to the funds. His Munich-based lawyer Lutz Libbertz was not immediately available for comment by telephone and did not reply to an e-mail. Prosecutors claim Mr Kiener paid for a lavish lifestyle – including Miami property and private planes – using funds from private investors and big banks, which he had won with the pledge of investing them in hedge funds. Although authorities have widened the number of suspects from two to four, it remains unclear how long the investigation will continue and what – if any – criminal charges prosecutors will file against Mr Kiener and others.

Oi?

2010-07-05T02:56:00.001-07:00

Oi? As much as I’m don’t want to let others to put me down, - I have to follow my dreams. I’m now referring to the ‘good start’ on “ship” of Belgium Presidency. (“… On the deck of a ship, a navigator plots his course”. Between us, I will just call him ‘Rompuy - pompi’. If you read about chinoca-Gazprom’s Congo-Belgic ‘African Question’). Even if I’m told how much I could do (if I stick around for more 15 years), - I know, sticking around isn’t what’s going to fix anything. The dream was of me in colyba? (The type of Alp’s chalet). I’m changing, and changing, and changing them frequently, passing from one to another. Like the nation… make with me the first decade, and the Almohads having results now (see the shrinking ‘invention of lucky politicians’ of козло…) In this one, with bare walls, I see only the plate with rusted cocked rice (I explained before, rice in portuguese ‘roz’, - i.e. морды). And I’m observing how the local aborigine having “relations” with the ‘poor Jo’ behind my back. Doing ‘theirs’ hush-hush business since the Anglo-Iranian Oil Company… This entire dream is commented by the reddish female through ukrainian language. Catch my cliff? (That sranaia of arabs churka Valia, judging by her national costume)… Putting the pictures of these (i.e. “fuerza” of NATO), - from Arcelor’s ‘Rompuy - pompi’ , you’ll see what I mean. For the several reasons. Well, maybe I don’t feel like to be diplomatic, or being flexible, or, just being in my communications worst days. The true is this, even if you’d like that I clean the future shit, independently, - you still be: 1)not in my team; 2) too ‘a little recommended; 3) stupid machines; 4) too much english speaking romantics; 5) pederasts;

Government refers to a merger with PT Oi. 05/07/10 00:09. Vieira da Silva, Minister of Economy, says that Government has nothing to do with a possible merger between PT and Oi, one possible solution for some investors.After using the 'golden share' to halt the sale of its stake in Portugal Telecom (PT) in Vivo to Spain's Telefonica, the government refers to the shareholders the decision on a possible merger with the also Brazilian Oi, as reported the Daily Economic issue on Saturday. "I have the same knowledge that all the Portuguese, is a story that appeared in newspapers, (Who win the Poland elections, for example. VAG) but it is a responsibility that rests solely in terms of decision and development to the company and its leaders," said Vieira da Silva, Minister of Economy, cited by TSF. The officer was responding well to headline Saturday's Economic Daily, which stated that investors would be the reference operator to consider a merger with the operator Hi, thereby circumventing the veto of the proposal by Telefónica participation of PT in Vivo.
The Spanish offered 7150 million by about 33% that the PT has the largest mobile operator deal approved in general meeting, with 73.9% of shareholders in favor but with the state to use the "golden share 'to veto the sale. Moreover, the Brazilian newspaper O Globo that advances Jose Socrates has informed the Brazilian president Lula da Silva that would veto the deal. To circumvent this block, some shareholders of reference are to consider a merger with Oi, which would lead to a major 'player' Lusophone world, which probably would get the green light from the Government to complete the sale of Vivo, a Since the country's strategic interests could be safeguarded in this way. Another hypothesis, reported by the Brazilian newspaper "Globe", involves the purchase of at least half the capital of Oi, keeping the shared control of the telecommunications group in Brazil. And states that the solution would be addressed by the shareholders as BES and Ongoing. With a merger with Oi, PT would maintain its presence in Brazil without spending the entire capital embedded with the sale of Vivo. This capital could then be channeled into investment in other developing geographies, particularly in sub-Saharan Africa - one of the pillars of the PT, to bring down debt or to solve the deficit of the pension fund operator. On the other hand, would allow Prime Minister Jose Socrates, after he vetoed the deal, could approve the sale of the participation of PT in Vivo without getting a contradiction to the argument of "defending the strategic interest of the country." The Brazilian newspaper also gives as the sale of some part of PT in Vivo. However, the deal will only progress from July 8, when the European Court will rule on whether the existence of the 'golden share' (see text below). And it would have the approval of the governments of both countries because they would continue to be represented by public banks: Caixa Geral de Depósitos and BNDES. The greatest difficulty is in convincing shareholders of Hi to sell their shares "but everyone has a price”. It is a matter of time", reports O Globo, citing an unidentified source. In a statement sent to the CMVM, at the request of the entity, PT stated yesterday at the end of the day that "the board did not meet or discuss these issues" and that there was "no representative to negotiate with third parties any merger or acquisition with Hi direct or indirect participation in Hi. " PT added that the board "is not specifically to study any particular operation of acquisition or merger the Brazilian market." Already Ongoing, which owns the Economic Daily, which holds 6.77% stake in PT, guaranteed that "there are no negotiations." At Lusa Nuno Vasconcellos, CEO, stated that "always said that the Brazilian market is strategic for PT but the alternatives have to be seen and proposals within the PT itself."

IMF mission agrees on $14.9 billion loan for Ukraine. 6:23pm BST. KIEV (Reuters) - An International Monetary Fund mission said on Saturday it had agreed to recommend a loan of $14.9 billion (9.8 billion pounds) for Ukraine in a deal to help fill the country's budget gap and boost investor confidence. The deal commits the ex-Soviet republic to cut its budget deficit faster than it planned, to 3.5 percent of GDP next year, and the IMF said in a statement its board would consider the deal for approval at the end of July after Ukraine made agreed adjustments to its budget and financial sector. Assuming approval by the IMF board, the programme will last two and a half years. The final amount was slightly lower than expected as the mission had been discussing a new stand-by facility worth up to $19 billion in negotiations that dragged on for months. "Policies under the programme include fiscal adjustment to contain the 2010 consolidated general government deficit to 5.5 percent of GDP ... and 3.5 percent in 2011 with a view to setting public debt firmly on a declining path," it said. "The fiscal adjustment is to be achieved by tax and social security structural reforms, expenditure rationalisation, combined with efforts to improve tax administration." The statement came a day after U.S. Secretary of State Hillary Clinton said the United States hoped Ukraine would win the deal. "Implementing a stand-by agreement with the IMF will allow Ukraine to secure social and economic stability and development while it overcomes the crisis and carries out large-scale structural reforms in the economy and society," Ukraine's government said in a statement. The IMF last year suspended Ukraine's $16.4 billion rescue programme because the former administration of President Viktor Yushchenko, who was at odds with his government, reneged on promises of financial restraint. Talks on a new stand-by facility have been prolonged as the IMF urged the government to set more ambitious fiscal tightening targets. The new government of President Viktor Yanukovich adopted the 2010 budget with a deficit target of 5.3 percent of gross domestic product and said it would reduce the gap by 1 percentage point a year for the next five years. Last year the budget deficit stood at 3.9 percent of GDP but the government increased planned spending by a third this year to help the economy recover and to raise social security payments such as pensions. The IMF had indicated it wanted Ukraine to set more ambitious targets for cutting the budget deficit -- which would probably require unpopular measures such as hiking utilities tariffs and reducing pensions or raising the retirement age. As well as providing much-needed cash, a new deal will help restore investor confidence and give a boost to Ukraine's $1.3 billion Eurobond issue planned later this month, analysts say.

In the port of Mumbai have faced two submarines.04 July 2010 | 20:34 | FOCUS News Agency. In the harbor of the Indian city of Mumbai have faced two submarines. This is reported by local media, with reference to the War Department in New Delhi. According to official figures, the incident no one was hurt. Both submarines were only minor damage. It is assumed that repair of the Indians hold their own.
According to some reports, the accident took place a further 10 days ago, but Indian authorities have all this time chose not to disclose details of the incident. In New Delhi, claim that such emergency is not uncommon for maneuvering in port. Indian Navy has 16 submarines.

Fire kills 24 aboard China steel company bus. BEIJING | Mon Jul 5, 2010 2:48am BST
(Reuters) - Twenty-four people died on board a steel company bus that erupted in flames in eastern China, state media reported on Monday. The shuttle bus, carrying night shift workers of a steel company in Wuxi in Jiangsu province, caught fire late on Sunday when passing through a tunnel, China's national radio service said on its website (www.cnr.cn). There were a total of 45 people on the bus, it added.
Nineteen passengers were injured, the official Xinhua news agency said. The reports did not say what may have caused the fire.

My name is Luca (Из лука).

2010-07-03T02:09:00.000-07:00

My name is Luca (Из лука). When I more dedicate to the personal, private matter in my notes, the more everyone feel right to come inside of my life within a voice shouting range. Maybe it’s because the bed english intensity with which I’m blogging. The good news is that whatever I say, - it’s really needs to be said, so, the more later, the ends definitely justify the means. I try to be gracious as much as possible, which is not simple to do when you think about the how I am. More, the some kind of dread feeling seems to be getting better. You know that mixed couple of narcomans (the “put – in” with spouse, the “medvedev” with spouse, that “cavaco” with espouse) living in the first floor in my building? You know which middle-high class Audi’s and Mercedes’s cars are covering them? Which faces of ‘Mittals’ (that, from Tony Blair’s “Israeli’s Arcelor-Mittal”), who do the same at the Eastern entrance of my building? Even at days when I wake up feeling like it might actually be on its way out for good, - the fools says or do something to make me worry again and again. Before going to bed, I put memo to myself: ‘If I sleep bad, - I should accuse the ““salgado de Brusselas” and all his “german” money.” Not because I stop to respect him, but because it is always the money. Okay, god be with him. The yesterday, to see how WHITE Laurence John Fishburne III (the “Ray” from CSI) enters with cocaine Gazprom’s Europe of the PT and Telephonica, - I feel like to break the World in half. (see the ‘The case is C-441/07 P for Parikh, Polonium and Ruthenium’ blog). This “blind bosses” are so busy to judge me and each other that they simply don’t notice how much of my energy and positivity they merely drain out.

Bulk carrier seriously damaged by explosions and fire, Lochaber Scotland. Friday, July 02, 2010. Major fire tackled on cargo ship in Lochaber. Friday, 2 July 2010 22:42 UK BBC
Firefighters are tackling a major fire on a cargo ship on the west coast of Scotland. The 100,000 tonne bulk carrier Yeoman Bontrup had been loading material at the Glensanda quarry on the Morven peninsula in Lochaber. No-one has been seriously injured but the vessel is believed to have been extensively damaged. A coastguard spokesman said the fire broke out on a conveyor belt and had caused explosions on board. The blaze took hold on the Bahamas-registered ship at about 1530 BST on Friday on the conveyor belt used to carry material from the quarry to the ship. Because of Glensanda's remote location, firefighters had to travel by barge. Highlands and Islands Fire and Rescue Service said the fire spread to the ship and set off an explosion involving gas cylinders on board. The coastguard said all crew members were safe, however the area of the vessel housing the crew quarters suffered significant damage.
One man was taken to Oban Hospital for treatment to injuries which are not thought to be life threatening. A number of crew members were also treated for the effects of smoke inhalation and for minor injuries. Yeoman Bontrup IMO 8912297 Flag Bahamas Bulk Carrier build 1991 DWT 96772. As on June 03 2010 crew 27, all Ukranian.

My name is Luca (Из лука): Police launched large-scale operation: Judge stays gone. n-tv.de NEWS - 2 hours ago. The Berlin police will continue searching for a vanished youth adjudicator. The 48-year-old was last seen five days ago. She is known for its crackdown on juvenile criminals. The police closed an abduction from the past.The search for the missing prominent youth Judges Kirsten Heisig from Berlin is once again been extended. As one about two square kilometers area in the Tegeler forest on the northern outskirts of Berlin so far without success has been combed through large forces searched the forest towards the village in the neighboring state of Brandenburg Hennig off. About 60 police officers were deployed, "said a spokeswoman. The judge was known throughout Germany were last seen Monday evening. On Wednesday, the lawyer, through consistent action against criminal youth was known to her, a friend reported as missing. The search then continued immediately. Also Thursday, dozens officers with sticks and dogs combed through the woods without success. No evidence of abduction. Two special dogs ran through the forest in the district Heiligensee, where the abandoned car was found Wednesday on the judge.The man trailing dog should smell traces of the missing women's record and direction show that, "in which the person could be gone." The first dog had been traveling for one hours. Results were not disclosed. A farewell letter from the mother of two daughters was not found. A kidnapping, the police closed in the past. Justice Senator Gisela von der Aue had said on Thursday "subject", there was no evidence of a crime. Supposed to become a private background.

Ukraine: return 180 degrees. Peter Kościński 02-07-2010, last updated: 02-07-2010 21:14
Subsequent events in Kiev confirmed that Ukraine seeks quick steps to the east and away from Europe. For us it is bad news. The Law on the principles of domestic and foreign policy, was adopted by the Ukrainian parliament, clearly states: The country intends to remain outside any military blocs, and therefore do not want to join NATO. This might be expected, since President Viktor Yanukovych has never manifested sympathy towards the North Atlantic Alliance. But the promised referendum on the possible entry into NATO. Now it is known that any referendum will not be because the decision has already been taken, and appeal to the will of the people is not needed. It is true that in the said Act talks about Ukraine's quest for membership in the European Union, but unlike NATO, which was ready to offer Kiev MAP - an action plan for membership - the EU in general does not speak about the possibility of its joining. One could say that the issue of entry into the Union is the only ornament that is obscure fundamental change in Ukrainian foreign policy, which makes a return of 180 degrees: from the pro-European is pro-Russian. Even more disturbing are the events of recent days - a call by the Ukrainian Ministry of Foreign Affairs several ambassadors of EU countries, including Polish, and explain to them how it should look the activities of NGOs in the country. Key: foundations, such as Adenauer and Batory, should not support the Ukrainian opposition. It's already working in the style of Belarus, meaning that the new authorities in Kiev, the desire to abandon not only the integration with Europe, but also the most important European standards. If Yanukovych to resign not only with NATO, but with democracy and human rights, he will build a new wall on the Bug River. And that is why you need a specific activity of Polish. Right now we have to convince the Ukrainian authorities and the public that they should not be reversed from Europe. Otherwise, instead of a strategic partner in the East will have a strategic problem.

Brazilian bankers’ year-long carnival comes cheap. JUL 3, 2010 03:39 BST. Brazil promises a yearlong carnival for investment bankers. The planned sale of some $82 billion of stock by oil giant Petrobras could make or break the global underwriting rankings banks use to hawk their services. But the honor won’t include a big payday. Chalk it up to two major factors. First, the companies spearheading the whopper deals are controlled by the Brazilian government. And with elections in October, the Brasilia bureaucrats are being understandably frugal. State-owned Banco do Brasil’s sale of 9.8 billion reais ($5.4 billion) of new and existing shares on Wednesday is a case in point. The deal’s underwriters walk away with a fee of just 0.5 percent of the total offering. It may be a long way from the meager 10 basis points underwriters earned for the Telebras privatization in the late 1990s. But it’s still low by today’s Wall Street standards, and represents about a quarter of the fees in previous offerings for private banks in Brazil. Moreover, the $27 million will have to feed many mouths. In addition to Banco do Brasil’s BB Banco de Investimento securities arm, local broker BTG Pactual and the local divisions of Bank of America Merrill Lynch, Citigroup and JPMorgan underwrote the offer. Divvy up the spoils, and they’re less than $6 million each — not chump change, but hardly enough to keep dealmakers in the helicopters needed to evade Sao Paulo traffic jams. This reflects the tough competition. Elbows are sharpening, as the country’s big local institutions, including Bradesco, Itau and Santander, square off with Wall Street and European investment banks. Moreover, the willingness to accept such relatively low compensation for normally pricier labors sets a precedent. The next big issuance will be of Petrobras stock to finance a purchase of offshore oil reserves from the government and to fund a gap in its capital expenditure plans. While underwriters are only likely to receive fees for the portion of the deal sold to minority shareholders, this could still be some $50 billion — along with the accompanying league-table credit. The Petrobras fees don’t appear finalized yet. And other firms are expected to flank the leads. But with the prestige of being one of the top underwriters in the world, the government can practically name its price — and it won’t be a big one.

Police storm Stockholm bank after hostage drama. Published Friday, 02 July 2010 12:07. The police stormed a Stockholm bank after a robber locked himself in together with both customers and bank staff. A lone robber locked himself in a branch of Handelsbanken on Östermalm, a central part of the Swedish capital, together with both customers and bank staff, midday Friday. The alarm call was received at 11.31am. The police stormed the bank 2.10pm and the perpetrator was arrested. "Two teams stormed the bank, using smoke and flash grenades", an eyewitness told The Swedish Wire. "All the streets were closed off and there were armed police officers everywhere". The police were quickly on the spot and surrounded the premises. A large police force was on the location, armed with automatic weapons. A hostage negotiators was also present at the scene to try to talk to the man. The man was not reported to be carrying a firearm. According to the Stockholm police, no one is reported to be hurt. “He has been loud and intimidating. But what we know, no one has yet been injured”, police spokesman Ulf Lindgren told the Dagens Nyheter website. "He was equipped with some kind of weapon". The event brings back memories of the 1973 Norrmalmstorg robbery in Stockholm, in which the bank robbers held bank employees hostage from August 23 to August 28. In this case, the victims became emotionally attached to their captors, giving name to the paradoxical psychological phenomenon called "The Stockholm Syndrome".
Last year six men have been arrested over a dramatic helicopter raid on a Swedish cash storage depot, in which millions of dollars were reportedly stolen.

The case is C – 441/07 P (P for Parikh. Polonium and Ruthenium).

2010-07-02T11:01:00.000-07:00

The case is C – 441/07 P (P for Parikh. Polonium and Ruthenium). Well, to don’t ‘sit on laurels’ and preserve the pole position, when the “bosses”, who actually, the blind pricks, mean, - take a risk. It’s clear, that will be fare to just a bit crisp the edge of my notes. Dare to true discussion instead of keeping my salary under the wraps. When it comes to money or, the handling of what I can (and I “can do nothing” under the Anglo-Saxon Economic Model standards), - it’s becomes just perilous. More yet, when “we” have a situation that I must do a little finagling to get myself a desirable bond… Even, after hearing that the Telephonica are considering a lawsuit against the ALL Portuguese State, can “we” interpret this like a way to support my “certain” synonyms in the “concrete” faces respect? Because, of some my experiences are easier to communicate than others. Don’t matter if past, - is past, and what’s gone, - is gone, it’s always material (and I recall here the ends of 80’s and the first half of 90’s), - who “gets to the first corner”.

Yanukovych has already managed to inspire States. Hillary Clinton is satisfied with the meeting with Yanukovych. We discussed energy and freedom of the media.Today in Kyiv meeting of President Viktor Yanukovich and U.S. Secretary of State Hillary Clinton. "We have a president (Yanukovych) was a very productive meeting. We discussed how the Philippines and the U.S. can deepen and expand strategic partnership. My visit comes at a crucial moment in the history of Ukraine. Past elections - is the path to democracy. And while the Philippines is moving forward, you will become a question about his place in the region and the world. Many people will force you to choose between the West and Russia. But Ukraine - an independent state. We hope that it will have good relations with its neighbors, including Russia. We do not believe that the concept of spheres of influence is correct and we are confident that the Ukrainians themselves have to make their way. In this way Ukraine can rely on U.S. support "- Clinton said. "President (Yanukovich) and I discussed the economic reform, which will force the country to develop and transform Ukraine into a producer of energy, not just the consumer and save money Ukrainians. We also discussed the importance of protection of Ukrainian democracy by supporting civil society, media independence and transparency of public sector ", - she said.
"Mr. President, your commitment to the development of democracy inspires us in the U.S. and around the world. I want to thank you for your hospitality "- Clinton said.

S Korea’s KNOC in talks over £1.5bn Dana offer. July 2 2010 12:03. KNOC, South Korea’s national oil company, is exploring a £1.5bn takeover offer for UK-listed oil explorer Dana Petroleum as it seeks foreign acquisitions to bolster its production. Any deal would have to be friendly and KNOC would want the existing management to remain at the subsumed company, people close to the situation said.
KNOC would have to pay a “significant premium” for Dana shares, they said, which would typically be about 40 per cent – or £16.45 based on Dana’s closing price on Thursday. Tom Cross, Dana’s chief executive who holds a 1.9 per cent stake in the business, would stand to make about £28.5m at that price. Shares in Dana jumped 18.5 per cent to £13.95 in mid-morning trading on Friday, the best performers on London’s second-line FTSE 250 index. In response to a Financial Times report on Thursday, KNOC on Friday issued a statement confirming it had approached Dana and had entered “very preliminary discussions regarding a possible cash offer”. It cautioned that there was no certainty that any offer would ultimately be made. Dana issued a statement late on Thursday confirming it had received a preliminary approach from a company it declined to name, which “may or may not lead to an offer”.
Royal Bank of Scotland is advising Dana while Bank of America-Merrill Lynch is acting for KNOC. Royal Bank of Canada is Dana’s joint corporate broker. KNOC has previously said it is committed to doubling its production from 130m barrels a day to 300m by 2012, and has been studying various foreign acquisitions with a budget of $6.5bn for this year alone. A person familiar with KNOC’s thinking said the company was flexible regarding the geographical location of any acquisition, as long as it would bolster its reserves and production. At the end of 2009, Dana had proven and probable reserves of 223m barrels of oil equivalent, producing from 36 fields in the UK North Sea, Egypt and in North and West Africa. Earlier this month Dana purchased £270m of Dutch North Sea assets from Canada’s Suncor, more than doubling its headcount and adding 20 per cent to its daily production. Last year KNOC acquired Canada’s Harvest Energy for C$1.8bn, which was seen as a watershed deal for Korean energy expansion after a string of frustrations in trying to buy up foreign reserves. The Harvest deal helped lift Korea’s energy self-sufficiency to about 8 per cent from about 6 per cent. The country’s end target is 18 per cent by 2012, when KNOC is expected to pump about 300,000 barrels a day.

S Korea's KNOC buys Kazakh Sumbe. Song Jung-a in Seoul, 12:00, Tuesday 29 December 2009
State-run Korea National Oil Corp has acquired Kazakhstan's Sumbe for about $335m as competition intensifies among Asian peers such as China and India to secure overseas natural resources. The deal announced on Tuesday came after talks between China's Sinochem and Sumbe, which owns two oilfields, fell through due to differences over the offer price, according to KNOC. It is the latest overseas acquisition by the Korean energy company, charged with boosting the country's energy security. KNOC took over Canada's Harvest Energy for C$4.1bn (US$4bn) in October in the country's largest overseas energy investment. KNOC said it would continue its hunt for overseas oil assets next year to expand its daily production capacity by six times to 300,000 barrels by 2012. "We are likely to acquire two more foreign companies in the first half of 2010," said a company spokesman. Seoul's energy ministry sees Kazakhstan as the base for KNOC's future oil development projects in central Asia. KNOC will buy an 85 per cent stake in Sumbe while an unnamed Kazakh partner will take the remainder. The deal is subject to Kazakhstan government approval. KNOC officials said they were interested in Sumbe as Kazakhstan is one of the most politically stable countries in the region and the country also provides tax benefits for foreign investors. KNOC already runs about four oil projects in the country. Sumbe has two oilfields in western Kazakhstan, with one under test production and the other still under exploration. The Kazakh oil company is expected to produce up to 20,000 barrels a day by 2014. KNOC estimates it will be able to recoup its investment about five years after production begins. South Korea, the world's fifth-largest oil importer, has stepped up its search for overseas energy acquisitions amid concerns over the stability of its supplies. Like Japan, it imports nearly all of its energy needs. Earlier this year, KNOC said it was looking at five to 10 oil companies overseas, each producing 50,000-100,000 barrels a day. But the country's efforts to secure energy assets have been met with fierce competition from China in the past. In June, KNOC narrowly lost out to Sinopec in a bid for Addax Petroleum (AXC.TO - news) , a company active in west Africa and Kurdistan. The Chinese state-controlled refiner eventually bought Addax for US$7.2bn.

Minority of Spain and Portugal Luso study sue the state for vetoing the sale of live. 02/07/2010 Expansión.com. The Spanish Association of Minority Shareholders of Listed Companies (AEMEC), and Portugal Associacao of Investor and Analyst Technicians do Capitais Market (ATM) are considering a lawsuit against the Portuguese State to veto takeover by Vivo Telefonica, a "prejudicial act" for "the legitimate interests of shareholders" and the "proper functioning of the market." The Portuguese government used its "golden share 'in Portugal Telecom (PT) to prevent the Spanish carrier was made with the Brazilian mobile operator, a purchase approved by the general meeting of shareholders of PT meeting on Wednesday June 30 in Lisbon. The associations have stated that the "golden share", an "anachronistic and arbitrary interference of political power", provides a mechanism on numerous occasions by the European Union as "incompatible" with EU law, especially with the principle of free movement of capital. In a strong statement of six points, both groups have stressed that the shareholders of the companies gathered at a general meeting, representing the "sovereign power" in corporations and therefore those who "hold the legitimacy for decision making affecting the same. " In this connection, recalled that the PT board adopted by a large majority (73.9%) accepting the bid for 7150 million euros by Telefónica, expressing the "true will of the company," the Portuguese Government "intends to curtail." Both associations have added that his stance has the full support of the European Federation of Associations of Shareholders (Euroshareholders), which are a part.

The case is C-441/07 P: EU ruling Alrosa, DB backed by top court. A diamond sales agreement between ZAO Alrosa and De Beers doesn’t need to be reassessed by the European Union after antitrust regulators won a challenge in the region’s highest court to a prior ruling, Bloomberg reported. The European Commission was correct when it decided that pledges by De Beers to overcome anti-competitive effects of the deal should be legally binding, the European Court of Justice in Luxembourg ruled today. The court overturned a previous ruling in favor of Alrosa that said the settlement was “disproportionate”, the report said. “The commission did not make an error of law or a manifest error of assessment or breach the principle of proportionality,” an 11-judge panel said today. The court also rejected a lower tribunal’s argument that the commission had breached Alrosa’s right to be heard. De Beers, the world’s largest diamond company, and Alrosa struck an agreement in 2002 worth $800 million a year. To settle EU charges the deal would harm competition, De Beers, which is 45 percent-owned by Anglo American Plc, in 2006 agreed to phase out purchases of uncut gems from Alrosa with a complete stop from Jan. 1, 2009, said the report. By dismissing the lower tribunal’s ruling, the EU’s top court today rejected Alrosa’s initial appeal because the company “has not succeeded in showing that the individual commitments offered by De Beers and made binding by the commission manifestly went beyond what was necessary.” Alrosa spokesman Andrei Polyakov declined to comment. Today’s ruling is “very important” because it’s the first by the EU’s top court on a decision to make binding a company’s commitments, the commission said in a statement. “It recognizes the commitment procedure as an effective and distinct instrument providing a more rapid solution resolving competition problems,” the commission said. The EU agency said the judgment also “clarifies the rights of interested parties in commission proceedings and confirms that the commission’s handling of the case was appropriate and fully respected the rights of defense of third parties.” Alrosa in July 2007 won a challenge at the European Court of First Instance that the EU limits to its deal with De Beers were unfair and disproportionate. The lower EU court said the commission had “merely accepted the commitments proposed by De Beers at face value, without looking for alternative solutions.” The case is C-441/07 P, Commission v Alrosa. Bloomberg.

AWDC elects new President. The Board of Directors of the Antwerp World Diamond Centre has elected Nishit Parikh to serve as AWDC President for the coming two years. In a statement, AWDC said Mr. Parikh will be the first person of Indian origin to stand at the head of the Antwerp diamond sector’s primary representative organisation. The AWDC Board of Directors also elected two vice presidents to serve alongside Mr. Parikh. They are Philippe Barsamian, who is a representative of the Antwerp diamond bourses, and Stéphane Fischler, who represents the manufacturers’ associations. Mr. Parikh was one of six of the AWDC’s 12-person Board of Directors to be elected by direct election on June 16, and is serving a second term as an AWDC director, having first been elected in 2006. Mr. Parikh todays heads Diarough, which employs a staff of 50 in Antwerp, is a De Beers sightholder, and cuts and polishes diamonds in its own factories in India, Thailand, Botswana, South Africa and Canada. Mr. Parikh succeeds Jacky Roth as AWDC President. Mr. Roth served in the position for four years.

Goldman Sachs Pressed for Derivatives Data.

2010-07-01T19:54:00.001-07:00

Goldman Sachs Pressed for Derivatives Data. Jul 02, 2010. Goldman Sachs Group Inc. refused a request from theFinancial Crisis Inquiry Commission to reveal how much itmakes trading derivatives, saying the bank doesn’t separate the figure from other businesses. “Some other firms have provided us with that data when we’ve asked for it and Goldman Sachs hasn’t,” CommissionerBrooksley Born said today in Washington on the second day of a hearing investigating the role of derivatives in the 2008 credit crisis, which sparked the worst recession since the 1930s. “It makes one wonder why Goldman has the incentive or impetus to not release this information.” Banks including JPMorgan Chase & Co., the biggest derivatives dealer, have provided estimates to investors. The top five U.S. commercial banks, including Goldman Sachs, generated an estimated $28 billion in revenue from privately negotiated derivatives in 2009, according to company reports collected by the Federal Reserve and people familiar with banks’ income sources. Goldman Sachs, the most profitable Wall Street firm in history, is being questioned about credit-default swap trades withAmerican International Group Inc., the insurer bailed out by the U.S. government after AIG was unable to meet collateral demands from trading partners on the contracts. The swaps, used by Goldman Sachs and other banks to hedge against declines in the value of mortgage-linked debt, caused losses at AIG as housing prices collapsed. ‘It’s Integrated’ Goldman Sachs Chief Financial Officer David Viniar testified today that the firm has no way of separating out its derivatives data from trading in cash securities. “We don’t have a separate derivatives business,” Viniar told the panel. “It’s integrated into the rest of our business.” Commissioner Byron Georgiou said he doubted Goldman Sachs was unable to provide the information. “When you tell us that you don’t know how much you make in your derivatives business, nobody here really believes it,” Georgiou told Viniar. “Nobody here believes that you don’t know how much money you’re making on the various aspects of your business, it doesn’t make any sense.” $49.1 Trillion. Goldman Sachs held a gross amount of $49.1 trillion of derivatives contracts as of March 31, according to an Office of the Comptroller of the Currency report last month. The bank reported total trading revenue of $7.65 billion during the first quarter. That follows total trading revenue of $23.2 billion in 2009, according to a filing with the Federal Reserve. “It’s kind of dangerous, don’t you think, to claim to the FCIC that you don’t know the profitability of a major line of business,” said Craig Pirrong, a finance professor at the University of Houston. “How can you rationally allocate capital, for instance, if you don’t know the return to that capital?” Under a March 2008 amendment to derivatives accounting standards, companies are exempt from breaking out gains or losses on derivatives used as part of a trading book that also includes cash securities, if other information on the trading activities is provided, according to the Financial Accounting Standards Board’s Statement No. 161. Goldman Sachs is “definitely capable of providing the data that was asked for, but I can understand their fear of doing so,” said Brian Yelvington, head of fixed-income strategy at broker-dealer Knight Libertas LLC in Greenwich, Connecticut, and a former credit swaps trader. Derivatives Revenue. “There is a potential for such a number to vastly overstate the amount of profit or loss captured by a particular business because much of that business may be symbiotic with another,” Yelvington said. “They may have made money on the derivatives leg of a trade, for example, and lost it on the cash leg.” JPMorgan said in February 2009 that about 8 percent of its total revenue from 2006 to 2008 came from derivatives in its investment-banking unit, according to a presentation made to investors. That breakdown and revenue figures from regulatory filings imply that half of JPMorgan’s $31.2 billion in trading revenue those years came from derivatives, according to Alexander Yavorsky, a senior analyst at Moody’s Investors Service in New York. ‘Highly Imprecise’
“Reporting a revenue number, just the profit on derivatives without looking at cash positions associated with hedging those, is going to be a highly imprecise exercise,” Yavorsky said in an interview today.
Goldman Sachs was subpoenaed by the commission last month after the New York-based firm sent more than a billion pages of documents to the panel, a shipment so sizable that panel members called it an attempt to hinder their probe. “We did not ask them to pull up a dump truck to our offices and dump a bunch of rubbish,” Chairman Phil Angelides, who previously served as California’s treasurer, said June 7. “This has been a very deliberate effort over time to run out the clock.” The commission, which will report its findings to Congress and President Barack Obama by December, said June 29 that the bank had been more responsive to information requests since being subpoenaed. Separately, Goldman Sachs faces a U.S. Securities and Exchange Commission fraud suit over sales of a mortgage-linked security. The bank has said the SEC suit is unfounded. Born’s Warning. Born had warned in 1998, as chairman of the Commodity Futures Trading Commission, that the unregulated over-the- counter derivatives market posed a danger to the global financial system. She moved to address changes in how swaps based on interest rates, commodities or currencies were traded and was stopped by then-Federal Reserve Chairman Alan Greenspan, SEC Chairman Arthur Levitt and Treasury Secretary Robert Rubin, who all argued the market could regulate itself. Born said last year that the banks that caused the crisis were trying to stop the congressional overhaul of the market. “Special interests in the financial-services industry are beginning to advocate a return to business as usual,” Born said in May 2009 as she accepted a Profile in Courage award from the John F. Kennedy Library Foundation.

Had been just reasonable?

2010-07-01T08:00:00.001-07:00

Had been just reasonable? The key figures opinion about the 2nd (the first was the Cimpor, after the COP15) important “arrangement”, - I resolve to not translate. The “from Spain, there are neither good winds nor good marriages”, - is one of many other reasons to mentioned here. I don’t know if too, my personal, quite emotional and insignificant intellectual side is fair enough to impartially mediate. However, the differences, as well the technical problems, in my opinion, can be easier if “we” just settle down and put “our” ‘Trustees’ – do the talk. The every time I try to simplify, I had the similar (if you remember) to AIG/Goldman headache. Who, - when the AIG paid off its bank creditors in full, with the help of that monster government bailout, it also signed a clausal forfeiting its right to sue the banks, including the Goldman. In a way, it’s similar picture to the Portugal Telecom, Telephonica and, (a little bit like the case of Cimpor) – of the EU. The government for the AIG/Goldman issued a huge document, in one place of which is stated: “…Each of AIG-FP and AIG Inc, for good and valuable consideration, the sufficiency of which it hereby acknowledges, forever releases the Counterparty from any and all Claims of any nature whatsoever that AIG-FP or AIG Inc ever had, now has or can, shall or may have, by reason of any matter, cause or thing occurring from the beginning for the world to the Termination Date that arises out of or in any way relates to the CDS Transactions.” But come back to the reason why I don’t want translate. She lie in quite dull question: ‘Is this legitimate?’ Because, - I don’t see the other way around if not hearing back, (after the couple days, weeks, months, centuries),: - ‘It’s depends on the motivation…’ Which “I’ll be happily” supporting… “Off course, ‘meus caros Senhores’, - if the reason was to avoid a slew of lawsuits that could have further destabilize the system in short term, this way have been just reasonable…”

Declarations: Salgado, Bava and Granadeiro in direct speech. Económico. 01/07/10 11:50. Ricardo Salgado explica por que votou a favor da Telefónica, Granadeiro diz-se conformado com a decisão do Estado e Zeinal Bava revela-se preocupado com a reacção do mercado.
Ricardo Salgado, presidente do BES
O que levou o BES a votar a favor da Telefónica?
Ao fim destes anos é essencial para a sobrevivência da PT, uma empresa independente, deixar a parceria com a Telefónica na Vivo. A proposta realizada ontem à noite representa 90% da capitalização bolsista da PT. O BES votou com a maioria dos accionistas porque considera que a melhor forma de contribuir para o futuro da PT é a libertação desta parceria.
Como viu a intervenção do Estado no negócio?
A decisão do Estado é uma decisão soberana. Respeitamos completamente a decisão do Governo. A subsistência da golden share pode estar por semanas.
O mercado não gosta de medidas administrativas que interfiram na decisão do mercado de capitais. Temos de respeitar a decisão do Estado, mas é bom saber-se que o mercado de capitais não gosta dessas intervenções. Era bom que não demorasse uma decisão [em Bruxelas] porque a imagem do nosso país pode ser afectada.
A nova proposta da Telefónica convenceu o BES?
Esta proposta parece-me que já está dentro de valores aceitáveis. Actuamos para manter a PT e a sua administração independente. Acreditamos que esta é a melhor forma de proteger a PT. O BES está muito orgulhoso da gestão da PT.
O BES admite vender a sua posição na PT?
Continuamos a pretender não vender a posição no BES. Mas está aí para ser aprovada até ao final do ano um BAL III. Nós temos que aguardar a legislação, temos muitos receios sobre o que vai acontecer, gostaríamos muito de manter a posição na PT mas atendendo às condições actuais não podemos dar uma garantia absoluta.

Henrique Granadeiro, 'chairman' da PT
Qual é agora a perspectiva da PT no sentido de segurar este activo depois de usada a golden share?
Este é um problema sobre o qual o conselho de administração já tem reiterado a sua posição ao longo de todo este processo. O Conselho de Administração tinha a convicção de que não era aplicável a golden share a estas matérias mas a autoridade para decidir sobre isso é do presidente da mesa da AG que admitiu a utilização da golden share, e vetou...
Isto não acaba por ser uma vitória de batota?
A PT tem o seu estatuto, os accionistas conhecem o estatuto da PT, o entendimento do presidente da assembleia foi exercido e reflectiu a decisão da AG. E nós confirmamos a decisão da Assembleia Geral.
Concorda com a aplicação da ‘golden share'?
Concordar ou não, estar ou satisfeito ou não estar satisfeito, eu lido com factos, e portanto é dentro deste quadro criado com as autoridades dependentes, que eu vou conduzir com o conselho de administração (...)
Não ficam fragilizados com esta decisão?
Quem decide sobre essa matéria é o presidente da assembleia-geral. O que esta aqui em causa é uma posição legal que respeitaremos. Sobre isso (impugnação desta decisão) não me pronuncio, isso fica a cargo da Telefónica enquanto accionista, e do Estado também enquanto accionista, por isso entre assuntos de terceiros não me pronuncio.
Qual é o futuro desta parceria com a Telefónica?
Vamos começar hoje mesmo a desenvolver um negócio como temos vindo a fazer. Já lembrei que não é a primeira vez que houve uma divergência entre a PT e a Telefónica em matérias subserventivas, caso da Sonaecom, mas isso não nos impediu de fazer hoje um trabalho espectacular na Vivo.
Se a Telefónica assim se decidir, a PT tem dinheiro para comprar a sua posição?
Não me pronuncio sobre cenários hipotéticos. Os factos são estes. Não sei se isto acabou por ser o melhor se o pior, o futuro o dirá, os factos são aqueles que foram criados aqui.
A administração não queria vender, portanto?
A administração tomou uma posição relativamente a proposta de 6,5 mil milhões de euros. Relativamente a nova, o conselho não chegou sequer a discutir essa nova proposta, não aprovou, e como tal não temos nenhuma posição sobre isso.

Zeinal Bava, CEO da PT
Fica desiludido com estes dados?
O quórum foi de 62% e isso significa que tivemos um grande apoio dos accionistas em relação àquilo que foi a posição que a PT sempre assumiu. Dito isto, naturalmente foi a um preço de 6,5 porque o novo preço foi apresentado muito tarde, ontem a noite, por isso, o conselho de administração fez o trabalho que lhe competia, que era criar condições para que os accionistas votassem o pilar.
Não acha que foi uma vitória de secretaria?
O que achamos ou deixamos de achar nesta altura é irrelevante porque prevalece a decisão da Assembleia Geral...
Como acha que os investidores financeiros recebem esta decisão da golden share?
Penso que em primeiro caso, já temos experiencia nestes casos, as acções estão suspensas, vamos ver o que acontece nos próximos dias. Acima de tudo vamos continuar a trabalhar no sentido de fazermos da PT uma referência, como temos sempre dito, a nível internacional. A única informação que esta a ser tornada publica é um press-release que está a ser libertado pela assembleia-geral, com a votação toda, e estes 62% provam que numa proposta a 6,5 os accionistas tinham uma opinião alinhada com aquilo que podia ser um cenário distinto daquele que se revelou. Acho que os accionistas são soberanos, temos de respeitar a decisão.
Fizemos o que nos competia, demos a informação em tempo útil, no site, nos mercados, sempre que fomos mandatados para fazer alguma coisa fizemos, e por isso, desse ponto de vista, acho que todos os colaboradores da PT mostraram uma grande capacidade de mobilização e de trabalhar num período que foi difícil para todos nós mas que a empresa continuou a apresentar bons resultados. Do ponto de vista da PT tudo foi feito para que as pessoas tivessem a informação e tomar a melhor decisão.

Ate dignidade tem o preço…

2010-07-01T02:08:00.000-07:00

Ate dignidade tem o preço… diz o Salgado em Nova York. Passou nem um més, - toma. Ė agora esta a frisar: “…O mercado não gosta de medidas administrativas que interfiram na decisão do mercado de capitais. Temos de respeitar a decisão do Estado (e do meu cimento?), mas é bom saber-se que o mercado de capitais não gosta dessas intervenções. Era bom que não demorasse uma decisão [em Bruxelas] porque a imagem do nosso país pode ser afectada"… Even the eng. Carreira come to bring me the Contract…, confirming that I’m the shepherd (“of a big Kahoona burger”?), - and not the sheep. That a well knowing story of 8%. The lot of people at least ones, hear about it. The same is with the slow growth of China’s manufacturing figures. Before the ‘meeting’ my associate, - was this restless subject in quite ugly form “assisting” me to recognise the set of further commitments and directions. It’s important for me, because if I’m treated unfairly or disrespectfully. Why nobody yet, after 12 years “не навел мне стрелки”? To only limiting theirs actions by the waiting for me at the gate of Brussels’ garage? I take this ‘actions’ deeply. Not at all like ‘water off a duck’s back’… Fact, - if I can manage to forgive, - I never quite forget. It’s had to get some value, when, after the my intervention, only pass four hours, the common sense (EU), - react “brusquely”. Another thing, my dear mano gringo: ‘The rats, - in Africa rats too…’ I’m talking here about the Google’s operating licence and the ‘Autorite de la Concurence’ who was like quite noisy musketeers last night. Words can be ugly, but, I mean business and it shows.

Simulator Theme Park Plunge Kills Six. 7 hours 54 mins ago. Six people have been killed and 10 others injured when an amusement park ride plunged 50ft in China. The accident happened on the Space Journey simulator ride at Overseas China Town East theme park in the coastal city of Shenzen on Tuesday. Survivors said there was a power cut and loud explosion moments before the ride dropped.
The Space Journey works by elevating and spinning 11 cabins which each carry four passengers. It is thought one cabin came loose during a high-speed spin and hit the surrounding cabins which then plummeted to the ground. The exact cause of the accident is not known but part of the park has been closed for safety checks. Five of those injured were in a serious condition in hospital. Shenzen, in the south of China, is one hour's drive from Hong Kong.

Telefonica extends offer period until July 16. 30/06/10 20:25. The proposal remains on the table and the new timetable is not innocent. Brussels decides on a 'golden share' to July 8 and Telefónica keeps 7150 million by July 16. Telefónica does not give up and move in terms of the bid to circumvent the only obstacle to take control of Vivo: the Portuguese state. Knowing that the European Court of Justice will rule on the 'golden share' to July 8 and that it will come out probably the end of the special powers of the state in PT, Telefónica keeps the offer on the table but prolongs deadline for acceptance for July 16. Instead of embarking on this stage for an endless struggle that divined from the Courts, Cesar Alierta play with the factor time: wait until after the 'golden share' to get control of Vivo, since the AG today more than 70 % of shareholders voted in favor of Spanish telecom. In a statement issued in the Spanish regulator, Telefónica considers that says "The veto is illegal" and announces that "extends the offer period until 23:59 (Lisbon time) on July 16, 2010."

Tata Power To Sell Stake In Coal SPVs To Olympus Capital. Thursday July 01, 2010 01:33:00 EDT. (RTTNews) - Integrated private sector power utility company Tata Power Company Ltd., or TPC, said it would raise $300 million or Rs. 1,390 crore by selling about 14%-15% of its stake in two coal Special Purpose Vehicles or SPVs to equity firm Olympus Capital Holdings Asia. The two SPVs own 30 percent in KPC and Arutmin, which own Bumi Resources coal mines in Indonesia. Tata Power holds interest in the KPC and Arutmin coal mines through these SPVs. The investment is subject to certain regulatory and lender approvals.

Reaction to the “Cafeisinho de Brusselas…”:

2010-06-30T08:55:00.000-07:00

Reaction to the “Cafeisinho de Brusselas…”: Brussels condemns use of 'golden share' in PT. 30/06/10 16:00. The European Commission has reacted to the decision of the Portuguese state to make use of 'golden share' in the PT to block the sale of Vivo."The Commission believes that the 'golden share' is incompatible with European law because it constitutes an unjustified restriction on free movement of capital", reads a 'statement' of the European Commission. "By not giving up 'golden share' in Portugal Telecom, the Portuguese government failed to fulfill their obligations in terms of free movement of capital," he adds. In that document, Brussels, points 'sued' Lisbon on this subject in 2005 and in 2008 handed the matter to the European Court of Justice, which shall take a position as early as next week, July 8.

Lisbon blocks Telefónica’s Vivo bid. June 30 2010 15:18. The Lisbon government on Wednesday used special veto rights to override shareholders and block Telefónica’s €7.15bn offer to buyPortugal Telecom out of Vivo, their Brazilian mobile phone joint venture. Portugal’s controversial use of its “golden share” to overrule 74 per cent of shareholders who voted in favour of the offer gave a new twist to the acrimonious bid battle between the two Iberian operators. People close to the meeting said the government intervention had caused widespread surprise among investors. Lisbon-based analysts said the veto was also likely to lead to intense legal wrangling. The government’s intervention is expected to be challenged by the European Commission and by Telefónica, which had raised its bid by 10 per cent to €7.15bn only hours before the Portugal Telecom shareholders met to vote on the offer. According to shareholders attending the closed meeting, members of the Portugal Telecom board had called on the government not to intervene. The board called an emergency meeting on Wednesday. Some core Portuguese shareholders, including Banco Espírito Santo and Ongoing, who had rejected Telefónica’s previous bids of €5.17bn and €6.5bn voted in favour of the sweetened offer. However, José Socrates, Portugal’s centre-left prime minister, said Telefónica’s offer did not reflect the value of Vivo to Portugal Telecom. The government was “acting in the interest of the country”, he said. The “golden share” was there to be used. Pedro Passos Coelho, leader of Portugal’s main centre-right opposition party, also said the sale of Portugal Telecom’s stake in Vivo would be a “bad deal” for Portugal. The government owns 500 “golden shares” in Portugal Telecom, which give the state special veto rights over important company decisions. However, the legality of the state’s rights in the company is being challenged in the European Court of Justice, which is expected to issue a ruling on July 8. The court is widely expected to find the “golden share” invalid. Zeinal Bava, Portugal Telecom’s chief executive, had previously said the bid for Vivo was not a case where the “golden share” could be used. However, he said on Wednesday that the decision of the chairman of the meeting to accept the use of the government veto had precedence over “whatever the board may or may not think”. Relations between the two companies have soured over Telefónica’s bid to gain control of Vivo, Latin America’s largest mobile operator, and merge it with Telesp, its underperforming fixed-line operator in Brazil. After launching an initial €5.7bn offer for the Vivo stake in May, the Spanish group said it was keeping open an option to launch a hostiletakeover bid for Portugal Telecom itself – a move that would arouse fervent political opposition in Portugal. Mr Sócrates had told parliament last week it was in the “strategic interest” of Portugal to ensure the country had a telecommunications company with an international dimension on the existing scale of Portugal Telecom.
This would enable Portugal to advance in the areas of research and development, innovation and engineering, he said in an answer to a question in parliament. Telefónica is seeking exclusive control of Vivo, Brazil’s largest mobile operator, as part of efforts to improve its faltering position in Brazil. But the Portugal Telecom board and core Portuguese shareholders said the previous Telefónica offers of €5.7bn and €6.5bn failed to reflect the “strategic value” of Vivo to the Spanish operator. Telefónica’s latest offer is almost three times the market value of Vivo in May when it the Spanish group announced its first bid and 98 per cent of the market value of Portugal Telecom.

Tories and Labour at war over unemployment figures. Normally one side briefs and then the other counter-briefs, but this time they interrupted each other's spin, contradicting one another and hurling statistics and comparisons at one another at a rate of knots. There was a fantastic spat today over Larry Elliott's exclusive piece in the Guardian claiming the Treasury had not published a forecast prepared for the emergency budget showing it would increase unemployment by 1.3m.

Number of unemployed is approaching 3 million mark. Wednesday 30 June 2010, 15:30 clock. Nuremberg / Berlin (Reuters) - The robust economic recovery, unemployment in Germany pushes closer and closer to the mark of three million. Registered in June, the Federal Employment Agency (BA) - as expected by experts - only 3.15 million people without jobs, and thus so few not seen since December 2008. "We are back to the level before the crisis", Federal Labour Minister Ursula von der Leyen said in Berlin on Wednesday. "The labor market shows to be stable, but he still is not dynamic, limited the CDU politician.The positive trend was not as strong as in May have been. BA chief Frank-Juergen Weise believes it, despite the skepticism of many experts, the possibility that the unemployment figure drops below three million by year-end: "The opportunity is there. The Nuremberg authorities counted 257 000 Erwerblose less than a year ago and 88,000 fewer than in May. That was in each case, the fourth decline in a row. In a June 1992 modified so few people have been registered without a job. The unemployment rate fell slightly by 0.2 points to 7.5 percent. Adjusted for seasonal factors, unemployment has increased compared to May fell by 21,000. Bright spots were also in East Germany: between Elbe and Oder, the unemployment rate fell for the first time this year under the one-million mark. "The demand for employees is increasing," explained manner. In open places to sit on the positive side, now would exceed the previous year's figures. In social insurance jobs and that there was an increase. Relief has the effect remains the short-time working. Last we counted 613 000 short-time workers - in the middle of the recession of the violent post-war history were it 2009 times more than twice as many. Decreases there is here, especially in the automotive, engineering and logistics industry. During the year reckoned with even less short-time workers.

Cafeisinho de Brusselas… or, (a кино III).

2010-06-30T04:50:00.001-07:00

Cafeisinho de Brusselas… or, (a кино III). Clashing with those you appreciate over what you do or don’t want, - is never easy. They may paint out things you don’t want to admit, and you say things they don’t want to hear… Whatever it is, - why should I walk on tiptoes? Just because you have a face of Ruthenium? And than knowing this, - you deny me what’s rightfully is mine? Conducting an adventure when the “Money never sleep”, - is daunting. You well know it.

1). Samsun Boryeong From: AAP June 29, 2010 A Man has leapt overboard after being set alight in an explosion on a coal ship off central Queensland. The ship is 240 nautical miles off Mackay and is too far out to be reached by the RACQ-CQ Rescue helicopter. The ship is headed towards the coast and the chopper will be within range to reach him tonight. Samsun Boryeong IMO 9035412 Flag Panama build 1993 DWT 149475.

2). In the north of Moscow burning building Concern Almaz-Antey. A major fire occurred this morning in the north of Moscow: lit 7-story building near the Sokol metro. According to RBC in the fire authorities of the capital, a fire occurred in the house 80 Block 2 on the Leningrad prospectus in the attic of the building belonging to the concern Almaz-Antey ". The area of fire is 800 square meters. meters.
According to the spokesperson of the capital's emergency department of Russia Yevgeny Bobylev, ignition signal received at 10:30 Moscow time. Are currently being evacuated, fire is assigned 5-I (highest) category of complexity, the scene has 25 firefighters calculations and Search and Rescue Team. At the scene of a fire are also working with the fire helicopters water reservoirs. Motion close to the house is blocked. Information about the victims yet. According to recent data from the building evacuated over 1000 people. As of 13:30 fire have been contained. With the company "Almaz-Antey" refused to give comments.

3). Guest drop to Yanukovich the idea where he can look for oil. UNIAN - 17 minutes ago. According to an UNIAN correspondent, it said that Sri Lankan President Mahinda Rajapakse at a joint press conference with President of Ukraine Viktor Yanukovych after talks in Kiev. "We offered to find oil in your land”.

4). LKI to be de-listed from NYSE Amex. Lazare Kaplan announced it will be delisted after failing to file required financial statements.Below follows the full press release: “…Lazare Kaplan International Reports on Receiving a Notice From NYSE Amex LLC of its Intent to Initiate Delisting Proceedings. NEW YORK, June 24, 2010 /PRNewswire via COMTEX/ -- Lazare Kaplan International Inc. (LKI 2.56, +2.56, %) (the "Company") announced today that by letter dated June 18, 2010 (the "Notice"), the staff (the "Staff") of the NYSE Amex LLC (the "Exchange") notified the Company of the Exchange's intent to strike the common stock of the Company from the Exchange by filing a delisting application with the Securities and Exchange Commission (the "SEC"), pursuant to Section 1009 of the NYSE Amex Company Guide (the "Company Guide")…”

5). Nestle's $28.1 Billion Payday Gives It Google-Size Cash Pile. Jun 30, 2010. Nestle SA has a $28.1 billion question and investors have plenty of answers. Europe’s largest company by market value could buy almost any publicly traded food asset with cash when it gets paid for itsAlcon Inc. stake in the second half. Investors want the maker of KitKat bars and Haagen-Dazs ice cream to expand in emerging markets to catch up with Unilever, which gets about half of its sales in developing countries. “The world is their oyster, but the pearls can’t be too expensive,” said Wendy Trevisani, a fund manager at Thornburg Investment Management in Santa Fe, New Mexico, which has more than $700 million invested in Nestle shares. “They’re clearly a laggard in emerging markets.” Nestle will receive $28.1 billion from Novartis AG for its majority stake in Alcon, the maker of Opti-Free contact lens cleaners, giving it a cash pile exceeding the $26.5 billion that Google Inc. had on its books at the end of March. The Swiss company is starting a new 10 billion-francbuyback program, though Nestle would rather invest in its business or make acquisitions, Chief Financial Officer Jim Singh said June 22. About 1 billion consumers in emerging markets will increase their incomes enough to be able to afford Nestle products within the next decade, the Vevey, Switzerland-based company estimates. The world’s largest food company gets about a third of its revenue from emerging economies and Chief Executive Officer Paul Bulcke aims to lift that to 45 percent within a decade. Bottled Water?Nestle’s sales in emerging markets rose 8.5 percent last year, double the rate of the company’s total revenue. Its sales from those regions totaled 35 billion francs, more than any rival. Nestle shares, which no analyst recommends selling according to 42 ratings tracked by Bloomberg, are up 4 percent this year. They fell 0.3 percent to 52.20 francs at 12:04 p.m. in Zurich today. Unilever has dropped 0.8 percent this year. Kraft Foods Inc., the world’s second-largest foodmaker, has gained 4.6 percent. Nestle may purchase bottled water businesses in markets such as China, Frits van Dijk, head of Nestle’s Asian business, said June 22. Acquisitions would also be considered to expand its business selling nutrition products for athletes, such as PowerBar, Nestle Nutrition CEO Richard Laube said. Pet Food
Possible targets may include Synutra International Inc., the $950 million Chinese infant-formula company, according to Katherine Lu, an analyst at Oppenheimer & Co. Nestle should consider buying natural pet-food makers to better compete with Procter & Gamble Co., which agreed to buy Natura Pet Products Inc. on May 5, or enter new bottled water markets in India and Africa, said James Targett, an analyst at Consumer Equity Research. Nestle Waters CEOJohn Harris said June 18 the company has a list of five new markets it would like to enter. “The cash lets Nestle have the stomach to invest behind their existing businesses and markets,” said Thomas Russo, a partner at Gardner Russo & Gardner in Lancaster, Pennsylvania, which holds more than $350 million of Nestle shares for clients. “They have the field pretty much to themselves at the moment.” Nestle spokesman Ferhat Soygenis declined to comment.
Bulcke, 55, has made only one purchase of more than $1 billion since taking over as CEO in April 2008, the $3.7 billion purchase of Kraft’s North American frozen pizza business announced one day after the Alcon sale. The CEO has pledged to spend as much as 3 billion francs a year on acquisitions of smaller companies, and Nestle has said the company doesn’t need to make “transformational” purchases.
Possible Targets The cash due from Novartis is enough to buy any of Nestle’s rivals in food and non-alcoholic beverages save the six biggest. That includes adding a 22 percent average premium that Nestle paid for its acquisitions of listed companies since 2000. “They’re going to use the money to buy assets, at least a big chunk of it,” said David Hayes of Nomura. According to Hayes, Nestle may look at General Mills Inc., the maker of Betty Crocker cake mix, which has a market value of $24.8 billion.
The only listed food and non-alcoholic beverage companies with market capitalizations of more than $28.1 billion are Coca- Cola Co., PepsiCo Inc., Unilever, Kraft and Groupe Danone SA. H.J. Heinz Co. or Hershey Co. could also be targets for Nestle, Euromonitor said in a May 20 report. Heinz would allow scope for lower costs in culinary aids and baby food, and Hershey would strengthen Nestle in its weakest region for chocolate, the market research company said. Heinz has a market value of about $14 billion and Hershey is valued at $11 billion. ‘Hidden Gems’ Nestle should avoid buying big companies that would make managers spend too much time selling assets to satisfy antitrust regulators, Thornburg’s Trevisani said.
“Ideally they find a few hidden gems like Nespresso out there that may not look great at first glance, but over time develop into really viable growth businesses,” Trevisani said. Investors would also like to see share buybacks and dividends funded by the money it will receive for selling the stake, said Joerg de Vries-Hippen, who counted Nestle as the biggestholding in his Allianz RCM Swiss Fund at the end of 2009.
“The right thing is a mix,” said de Vries-Hippen, who helps manage 16 billion euros ($19.5 billion) at Allianz Global Investors in Frankfurt. “If you’d win the big jackpot, 30 million, and the first thing you do is buy a big house, 10 cars and maybe give your family a lot of money, in the end you will have lost all your money.” Nestle needs to give investors more clarity on what it will do with the money, or else analysts might become less willing to recommend buying the stock, said Carl Short, an equity analyst at Standard & Poor’s Equity Research. He moved to “hold” from “strong buy” in October, partly on such concern.
“It becomes a bit of a problem, because if you’re telling someone to buy the stock, they can turn around and say ‘what am I really buying?’” Short said. “You could buy Nestle today and in six weeks time, it’s a completely different company.”

6). "It's very difficult to have another opportunity like this to sell"
Spain ends today, the EU presidency. Starting tomorrow, the community will guide the work of Belgium. The Spanish presidency was - according to commentators - bad, but not the worst. First of all, this was the first six months under the new Lisbon Treaty, which undermines the role of the country chairing the work of the Community. On the picture, the Spanish Prime Minister Jose Luis Rodriguez Zapatero, President of the European Council, Herman Van Rompuy and European Commission President Manuel Barroso. Spain has prepared a very ambitious agenda for the six-month presidency, and it is not, and the President of the European Council, Herman Van Rompuy was playing first violin in the Union.

The sinister icy black hand of dead club…

2010-06-30T00:54:00.001-07:00

The sinister icy black hand of dead club… You know nation…, - what is my idea of an ideal relationship? Is when I involve the combining my interests (financial or otherwise), with, to later on assemble them to come up with one solid, grounded asset that I and my “colleagues”, “co-workers” (i.e. ‘no-one-interview-in-the-six-months’), can share. Even, when my “acquaintances” know more about “these” matters than I.

METADE DE NOSSO CAMELO OU GOLP DE MISRECORDIA: TELEFONICA INCREASES OFFER FOR 7.15 BILLION. 29/06/10 23:30. It's the ultimate ploy to gain control in Brazil. On the eve of decisive AG, Telefonica rose once again, the offer, this time to 7150 million. Spain's Telefonica, on the eve of the general assembly of Portugal Telecom, has decided to revise upwards the price of the offering to buy the 50% that the Portuguese company owns Brasilcel, the 'holding company that controls 60% stake in Vivo. In a statement sent to the CMVM by the end of the day, Telefónica announced a 10% increase in the offer price to buy Vivo. The Spaniards are now willing to pay 7150 million, in a last attempt to convince PT shareholders to accept its takeover offer on the Brazilian operator. A new proposal for another 650 million euros, is valid until July 2 and Telefónica retains all other stipulations and conditions contained in the latest offer, including the possible purchase of PT, or appoint someone to acquire a position of about 10% in the capital of Portuguese operator. This is the second time that the Spanish company revises upwards the amount payable to shareholders of PT. The initial proposal was 5.7 billion euros and was subsequently improved to 6.5 billion. The board of directors of PT had already said that the 6.5 billion does not reflect the value that may live for Telefonica in the long term. This latter figure may weigh in the decision of the shareholders who will be meeting tomorrow in an extraordinary general meeting, from 10 hours, at the Congress Centre of Lisbon. Follow the AG's PT, live, from 10:00 in Etv and www.economico.pt. Government assesses use of 'golden share' to catch Telefónica Climb the last hour of purchase price eases Vivo

European Economics Preview: German Unemployment Data Due. Wednesday June 30, 2010 01:40:00 EDT. (RTTNews) - Unemployment data from Germany along with inflation data from the eurozone and business investment data from the U.K. are due on Wednesday, headlining a busy day for European economic news. All times in ET. Major economic news released on Tuesday were mixed, with eurozone economic sentiment rising unexpectedly while U.K. mortgage approvals fell slightly. French consumer sentiment continued to fall in June.

Merkel Faces Test of Leadership in Secret Ballot on Presidency. Jun 30 2010. Chancellor Angela Merkel faces the biggest test of her second term today in a secret ballot to elect Germany’s largely ceremonial president, a vote that threatens to rattle her coalition.

Oil Worker Killed In Lindsey Refinery Blast. Wednesday, June 30 03:18 am. An oil worker has been found dead following an explosion at a refinery in North Lincolnshire. The man, who has not been named, had been working close to a crude oil distillation unit which caught alight then exploded at the Lindsey Oil Refinery, at about noon yesterday. More than 50 firefighters from Humberside Fire and Rescue Service were called to the plant where black smoke was seen billowing from burning crude oil. Some 10 appliances were brought in to tackle the blaze. People living in the area surrounding the plant in North Killingholme reported hearing the explosion. Employees said the fire started in a superheated industrial heater close to where they walked to work. In a statement oil company Total, which runs the refinery, said: "It is with deep regret that Total Lindsey Oil Refinery can confirm that there has been a fatality following the fire and explosion at 11.57. "The deceased has yet to be formally identified. "Formal investigations have been launched by the Police and the Health and Safety Executive. "We are fully co-operating with these inquiries in order to understand exactly why this tragic incident occurred." Two people were treated for minor injuries following the blast. One was taken to the Diana Princess of Wales Hospital in Grimsby. Humberside Police initially warned residents to stay indoors and keep their windows closed but people have since been told they can safely leave their homes. Police are now working with the fire service to determine the cause of the fire which has been extinguished.

A century old antagonism, or “Mapa côr de rosa”….

2010-06-29T06:44:00.001-07:00

A century old antagonism, or “Mapa côr de rosa”…. Imagine me walking along the Thames. Then, think about if I trip. What’s happen next? Can I fall over? Well, - the possibility will be that I’m just stumble. For my age, this is important. Making today the article compilation, - I am asking to myself: - ‘It’s you the mammoth? The gigantic proportions faux pas? The social blunder of enormous indiscretion? It’s almost vital to know. More yet, after such hectic last week. So what, - if I try too hard? It’s a regular procedure by now. But, if this effort is the case of backfire? When this quantity of money moves occurred, - the extreme caution are demanded from the euro-schizophrenics like me. Recording the how sranaia churka Alekperov was buying the Picasso’s “Maму”, - how I can preserve my interests, and, to invest in myself? It’s, if not, - not sense, not logic or fare. When the “someone” (i.e. козло-вонючиe кацапскиe твари) change at work (i.e. the spies with ongoing piggy faces), - keep want to put more responsibilities’ on me. If I don’t speak about the being COMPENSATED for my effort, - not the EU (energy), not the Portland 450 cement (salary), not the Santander, mum-m, the “Santanders”, - never will! Even in my “case”, the old ways just aren’t working any more. The proper ‘universe’ is challenging me and you to think in new, “bigger”, and more progressive ways. I will not calling your attention to the fact that this isn’t my strong point. (Since I appreciate the tradition and decency). Since I have right insights into other people’s motives, to carry on carve out an adequate niche.

Their briefs. ENGLAND’SWorld Cup flops suffered one last indignity before heading home in ignominy – robbed of their underwear by cleaners at their five-star hotel. The players, whose trouncing by Germanywas blamed yesterday on ‘tiredness’, discovered Ј7,000 of football kit and souvenirs had been taken from their rooms. The haul included socks, underpants, a commemorative Fifa medal, crockery
and even the shirts they had swapped with the US players.

BP staked its future on expanding offshore drilling a month before the catastrophic explosion on the Deepwater Horizon triggered the United States' worst environmental disaster, according to company documents revealed yesterday. The investigative web site ProPublica published a March 2010 strategy document in which BP named "expanding deepwater" as its number one area for long-term growth.

Telefonica's Vivo Bid Stirs Portuguese Hostility Before Vote. Jun 29, 2010. The vote on Telefonica SA’s 6.5 billion-euro ($8 billion) offer forPortugal Telecom SGPS SA’s stake in their Brazilian venture may be too close to call, turning on how a centuries-old antagonism plays out. Portuguese investors probably control 40 percent to 50 percent of the vote, according to Banco BPI analyst Pedro Pinto Oliveira, meaning the bid’s success may hinge on whether they cast their ballot at tomorrow’s meeting along nationalistic lines. Portuguese Prime Minister Jose Socrates last week asked state-owned lender Caixa Geral de Depositos SA, with 7.3 percent of Portugal Telecom, to reject the bid.
Telefonica’s offer may come up against a four-century-old distrust on the Iberian Peninsula that’s given rise to the Portuguese adage that “from Spain, there are neither good winds nor good marriages.” The two countries are squaring off today too, playing each other in the World Cup soccer match to determine which team goes to the quarterfinals. “There is a certain element of hostility there,” said Roger Appleyard, head of global credit research at RBC Capital Markets in London. “It would probably not be the same if the bid were from a company such as Deutsche Telekom.” Telefonica is offering to buy Portugal Telecom’s stake in their 50-50 venture Brasilcel NV, which owns 60 percent of Vivo Participacoes SA, Brazil’s largest wireless company. Portugal’s Socrates has called the stake in the asset in Brazil, a former Portuguese colony, “strategic.” ‘National Champion’ “It’s a national issue,” Jorge Felix, president of the Portugal Telecom workers’ union. “No one can deny the strategic value Vivo has for the growth of Portugal Telecom, or the strategic interest for the country of having a company that has the capacity to invest and help in its technological development. It’s as much or more important for Portugal than it is for Spain.” Portugal Telecom relies on Brazil for growth, with sales from the Latin American country rising 27 percent in the first quarter, while revenue at home fell 3.6 percent. Yet Portugal Telecom this month acknowledged that the company can provide “no assurance” that “similar value will be delivered to the shareholders for Vivo” should Telefonica’s bid fail. “Portugal wants to remain having a national champion and that’s all fine, but it does not make rational economic sense to reject the offer because it’s significantly more than the Vivo stake value on any measure,” said Appleyard. Telefonica Stake About 36 percent of Portugal Telecom is held by Portuguese investors, according the company’s website. U.S. holders own 23 percent, 21 percent is owned by investors based in the U.K. and Ireland and 19 percent by shareholders in the rest of Europe. Telefonica held 10 percent of Portugal Telecom before reducing its stake to 2 percent last week. Telefonica still controls 10 percent of the voting rights, Portugal’s securities market regulator said yesterday. Antonio Menezes Cordeiro, chairman of the shareholders’ meeting, will decide if the Spanish company can exercise its voting rights or whether it would represent a conflict of interest. Institutional Shareholder Services, the influential group that advises investors, recommended June 14 that Portugal Telecom shareholders accept Telefonica’s offer. On June 18, Proxinvest, another shareholder advisory service, recommended that the bid be rejected. Two large Portuguese shareholders have said they will reject the bid. Ongoing Strategy Investments SGPS SA, which owns a 6.8 percent of the Portuguese company and has board representation, plans to vote against the offer. Close Call The price is not sufficient, Jose Maria Espirito Santo Ricciardi, chief executive officer of Banco Espirito Santo SA’s investment banking unit, said in May. Banco Espirito Santo owns about 8 percent of the stock. “It will be a close call,” said Teresa Martinho, an analyst at Banif Investment Bank in Lisbon. “I still think at this price it will be hard to pass.” Portugal Telecom Chief Executive Officer Zeinal Bava has sought to step up the fight to force his counterpart at Telefonica SA, Cesar Alierta, to put more money on the table. Alierta has refrained from boosting the bid a second time, Portugal Telecom, which rejected an initial 5.7 billion-euro bid without a shareholders vote, has said the revised offer “does not reflect the strategic value of this asset for Telefonica.” Madrid-based Telefonica, which said its first offer was “fair, full and final,” wants control of Vivo to merge it with Telecomunicacoes de Sao Paulo SA, or Telesp, its fixed-line unit in Brazil. ‘Regional Rivalry’ “The offer is more than reasonable and that should be enough,” said Alberto Espelosin, who helps manage about $12 billion at Ibercaja Gestion in Zaragoza, Spain. Still, for some investors, voting on the offer may be less about reason and more about history. Portugal fought off invading Spanish armies in the 1600s as well as the 1800s, when they attacked with Napoleon’s forces. Spain ruled over Portugal for 60 years between the late 1500s and early 1600s. That history is the backdrop for most of Portugal’s dealings with its neighbor -- from business to soccer. “It’s a regional rivalry in every aspect,” said Carlos Queiroz, the Portugal team’s coach said at a press conference yesterday in South Africa. “A Portugal-Spain is a special titbit, like Argentina-Brazil or England-Germany. They are menus you don’t see every day.”

Miller's Gazprom increased. "Gazprom has increased its payments to its senior executives by 25% - a man had more than 60 million rubles. And this despite the fact that last year the company lost and markets, and revenues.

In a warehouse next to the ID "Izvestia in Moscow there was a fire. June 29, 2010, 14:: 44. On Tuesday afternoon near the Publishing House (ID) Izvestia in Moscow warehouse caught fire with waste paper products, said spokesman capital MOE. According to him, pressed paper and waste paper products caught fire at 13.18 in a two-story warehouse at: Nastasyinsky lane, 4. "Arrived at the scene firefighters quickly coped with the fire. The area of the fire was 30 square meters ", - said the spokesman, reports RIA Novosti. He did not specify whether the stock belongs to the ID "Izvestia", or other organization. Causes of fires are set, they said in the main emergency department of Moscow.

Odessa stolen Caravaggio painting worth $ 100 million found in Germany. proUA / 29.6.2010 half past eight. Police found the stolen Caravaggio painting "Christ Taking into custody, or Judas Kiss" by law enforcement searched for two years, the "Today". As writes edition, the picture cost $ 100 million were deported from Ukraine in skrutyvshy tube. In pursuit operations hijackers attended special secret police. "Caravaggio found! Painting found in Berlin on June 25. On suspicion of kidnapping arrested three citizens of Ukraine. First, the picture will bring to Kyiv. And then sent home to the Museum of Western and Eastern art "- not hide the joy, the chief of the Odessa Regional Police Michael Yatskov.
In Ukraine, after two years of searches canvas delivered accompanied by Interior Ministry special employees "Titan". "Delayed attackers had already invaded the field of law enforcement. But then their involvement in the theft of paintings by Caravaggio show failed. Now, after examination by the German and Ukrainian specialists, established reliability and picture because it was necessary to ensure that no copy of it "- said the chief adviser to Interior Minister Konstantin Stogniy. Stogniy confirmed that employees were involved in operations of one of the structural units of central MIA.According to the paper, it is police officers from the newly established Office of the secret special operations, dealing with the operational development of organized criminal groups. "Germany got the sight long ago. There's a large black market among connoisseurs of Russian art. We contacted the German police, which began to process underground antiques dealers. "Judas Kiss" found by chance - three Ukrainian suspected of illegally selling a totally different work of art and searched the apartment of one of them.Caravaggio was also found other masterpieces. That is a picture of robbers tied up in the carriage. Because of this paint on canvas potriskalasya somewhat, but minor damage "- says a source in the Odessa police. Despite assurances from police that the accuracy of the painting is set in Odessa Museum until no hurry to rejoice. "I am afraid that this finding was not the same holder as information about the sale of Caravaggio on one of Moscow's websites for 60 million rubles. Later it turned out that the "duck", launched by police who tried to catch the thieves to "alive". If the picture is really ours, provide a good reception. There will be an exhibition of one painting - "Caravaggio", - said museum director Vladimir Ostrovsky. Recall brilliant masterpiece of Michelangelo and Caravaggio Merizi "taking Christ into custody, or Judas Kiss" worth about $ 100 million stolen, presumably Odessa law enforcement officers the night of August 4, 2008.

Santander.

2010-06-28T16:53:00.000-07:00

Santander. It’s a bit mental when the Santander personally wants to ‘limpar o meu cebo’… It feels like a true challenge for my off soul… The small intuition is wandering if I can (however the results I had), transform my dare into a success. How had the recent developments changed my view for future directions? If “one team” died, (Deepwater) and other simply “seized” during the (Visa card) acquisition? Was my Values Chart Theme switched out? The hot words have been exchanged, but, for the first time I can see the things from a more detached point of view… And they are telling me that it’s good time to spend my time (and the santander’s value chart), - and to be focused on money. Focused on how I can save, how I can make more, or, at least, how I can make what I have last longer. Once my finances fell into place, - I can start appreciate those from left side (EdF, - for example), of the brain more.

- Who is the Juror?
- Santander, your Highness…

Spanish banks rage at end of ECB offer. June 28 2010 19:43. Spanish banks have been lobbying the European Central Bank to act to ease the systemic fallout from the expiry of a €442bn ($542bn) funding programme this week, accusing the central bank of “absurd” behaviour in not renewing the scheme. On Thursday, the clock runs out on the ECB financing programme – the largest amount ever lent in a single liquidity operation by the central bank – under the terms of the one-year special liquidity facility launched last summer. One senior bank executive said: “Any central bank has to have the obligation to supply liquidity. But this is not the policy of the ECB. We are fighting them every day on this. It’s absurd.” Another top director said: “The ECB’s policy is that they don’t want to provide maturity of more than three months. But they have to adapt.” Banks across the eurozone, but in Spain in particular, have found it hard in recent weeks to secure liquid funding in the commercial markets, with inter-bank funding virtually non-existent. The €442bn ECB facility, which charges interest at a rate of 1 per cent, is not set to be renewed, something that banks in Spain and elsewhere in Europe say ignores current commercial realities. A special offer of six-day liquidity will tide banks over until the following week’s regular offer of seven-day funds. On Wednesday, the ECB will also be offering unlimited three month liquidity, and further offers of three-month liquidity will keep banks going until at least the end of the year. “The system is just not working,” agrees Simon Samuels, banks analyst at Barclays Capital in London. “We’re approaching the third year of liquidity support and still the market cannot survive unaided.” BarCap estimates that at least €150bn of the ECB funding that is maturing will not be rolled over into shorter-term three-month schemes, forcing banks to shrink their own lending. Spain’s banks have been among the hardest hit by the faltering confidence in the eurozone economies in recent months following problems with the country’s smaller savings banks, or cajas. The bigger commercial banks, led by Santander and BBVA, feel unfairly tarred. The euro’s monetary guardian has also come under pressure from German banks to provide one-year loans. It stopped offering such loans late last year, when it began unwinding exceptional measures taken after the collapse of Lehman Brothers. It resisted reintroducing such offers even when its “exit strategy” was thrown into reverse last month by the escalating eurozone debt crisis. ECB policymakers worry that providing cheap loans for such a long period distort markets and could restrict the room for manoeuvre in monetary policy. Lending by eurozone banks to businesses and households is improving only modestly, in spite of the pickup in economic activity. Loans to the private sector grew at an annual rate of 0.2 per cent in May, up from 0.1 per cent in April, according to ECB figures released on Monday. Lending to households was strongest, although the annual rate of decline in lending to corporations also slowed.

PT falls 3% as telecom and is the most falls in Europe. 28/06/10 15:00. The square deal in Portuguese adverse terrain falls heavily influenced mainly by Portugal Telecom and Brisa. The index includes the key listed nationals, the PSI 20, retreated 0.58% to 7177.04 points on Thursday sesssão consecutive losses in Lisbon, while 13 shares protagonists gains. The Portuguese stock market went in the opposite direction to the other European markets, which recorded the first session of gains in five sessions. Leading the falls were in the PSI 20 Portugal Telecom shares, which fell 3.16% to 8.28 euros, following the 'downgrade' the recommendation given by Santander. The Spanish bank has revised downward today the recommendation for the Portuguese operator to 'buy' to 'hold' due to the gains won by almost 30% since early May and maintained a price target of PT in 8 euros per share, below the current quote. PT thus presents the worst performance on the Bloomberg index that gathers 21 European telecoms and showed slight gains of 0.65%. Brisa already lost 2.2% to 5.32 euros, after BNP Paribas of these papers have initiated coverage with a recommendation from 'underperform' and a 'target' of 5.50 euros. The press were also the titles of banking, with BCP and BES dropping 0.9%. BPI, in turn, followed in the opposite direction, advancing 0.6%.

Man arrested after bank siege. Monday, June 28 08:44 pm. A man in his 30s has been arrested after an armed siege at a bank.The arrest came three hours after a suspected gunman took a number of hostages in the incident at Barclays Bank in Church Road, Ashford, west London. Superintendent Duncan Greenhalgh of Surrey Police said: "Shortly before 4pm, Surrey Police received reports that a man with a firearm had entered Barclays Bank in Church Road, Ashford. A number of people were inside the bank at the time and being prevented from leaving. "This was a fast-moving incident and police were on the scene within minutes. Trained hostage negotiators made contact with an individual inside the bank and just after 7pm a man came out of the bank and was contained by armed police. The man, said to be in his 30s, was detained after a three-hour armed siege by police at a branch of Barclays Bank in Ashford, Middlesex.
It is believed he entered the bank at 4pm brandishing a sawn-off shotgun then handcuffed the staff and customers using plastic cable ties and made them put on white boiler suits. One of the hostages said he ordered them to blackout the windows of the bank using spray paint. When police responded to the scene and told the suspect to surrender he is understood to have shouted to them that he had “dynamite” with him inside. A witness who saw the arrest said that a “shaven-headed, white portly man” finally emerged from the bank smoking a cigarette before he was handcuffed and led away. All the people involved are being assessed by medical teams but there have been no serious injuries. "This was obviously a very traumatic experience for those members of the public and bank staff caught up in it but I am extremely pleased with the quick and effective response from officers who brought this situation to a close without injury to anyone, including the suspect."

US authorities 'bust Russian spy ring'. Monday, June 28 10:25 pm. 4 mins ago. Ten alleged members of a “deep- cover” Russian spy ring whose ultimate goal was to infiltrate U.S. policy-making circles have been arrested, the Justice Department said. The arrests yesterday in the New York area, in Boston and in Arlington, Virginia, are the result of an investigation by U.S. authorities into the ring, which began operating in the 1990s, according to two criminal complaints unsealed today. The alleged agents posed as American and Canadian citizens, some of them living in the U.S. for more than 20 years, with the goal of becoming “Americanized” and passing intelligence back to the Russian Federation, according to the complaints. The conspiracy involved at least three unnamed Russian government officials, according to the complaints. U.S. officials collected evidence on the alleged spies through wiretaps and e-mail monitoring, the use of hidden microphones and video cameras and secret searches of some of the defendants’ homes, according to the charges. The alleged spies were instructed to remain in place for years before they could deliver useful intelligence, according to the charges. According to the charges, two of the defendants, known as Richard Murphy and Cynthia Murphy, received a coded message in 2009 from the Moscow headquarters of the Russian Federation foreign intelligence service, instructing them on their duties. ‘Service Trip’ “You were sent to USA for long-term service trip,” read the message, decoded by the Federal Bureau of Investigation, according to the government. “Your education, bank accounts, car, house etc. -- all these serve one goal: fulfill your main mission, i.e. to search and develop ties in policymaking circles in U.S. and send intels [intelligence reports] to C[enter].” By using illegal documents, agents assumed false identities before getting university degrees, took jobs and joined professional associations, according to the complaint. Agents also lived together, posing as married couples and having children to deepen their cover, or “legend,” the FBI said. Before coming to the U.S., agents were trained in spycraft, learning foreign languages, the use of encrypted messages and the avoidance of detection of their work, according to the FBI. One method that agents learned was a “brush-pass” or “flash meeting” in which they secretly passed items or payments to another while walking past them in public, according to the FBI. Encrypted Messages. Prosecutors said federal agents determined the defendants used a process called “steganography,” or messages that are secretly encrypted within electronic images. Federal agents found such encrypted messages on a computer disk recovered from a 2005 search of the New Jersey residence. The defendants also made use of “radiograms” in which they used coded bursts of data sent by a radio transmitter that can be picked up by a radio receiver set to a proper frequency. As the messages are transmitted, radiograms sound like the transmission of Morse code, the U.S. said in court papers. The government charged 11 individuals, including the 10 arrested, with conspiring to act as illegal agents of the Russian Federation within the U.S., according to a Justice Department statement. The 10 defendants are expected to appear in court today. The 11th hasn’t been arrested, according to the statement. Nine of the defendants are charged with conspiracy to commit money laundering. The defendants face as many as 20 years in prison on the money laundering conspiracy charges. The charges of conspiracy to act as an agent of a foreign government without notifying the U.S. attorney general carries a prison sentence of as long as five years.

France Telecom to pull out of Le Monde bid. June 28 2010 12:46. A trio of businessmen have won the race to take over Le Monde, France’s most prestigious daily newspaper, after a rival consortium including France Telecom and Prisa of Spain said on Monday it would withdraw its offer. The winning trio of Matthieu Pigasse, a Lazard banker, Pierre Bergé, the former business partner of Yves Saint Laurent, and Xavier Niel, the telecoms billionaire have agreed to invest around €100m in return for control of the cash-strapped daily. Le Monde’s supervisory board will meet on Monday afternoon – in theory to choose a new owner. In fact, it has no choice because France Telecom and Claude Perdriel, owner of Le Nouvel Observateur magazine, said they would terminate their joint bid with Prisa, the Spanish media group, after it was overwhelmingly rejected in a vote by Le Monde staff on Friday. In a statement, France Telecom said it and Le Nouvel Observateur had agreed to keep its offer on the table “out of respect for Le Monde board members” but said it would withdraw it after the board meeting “whatever the decision”. The victory of Mr Pigasse, Mr Bergé and Mr Niel is a blow to President Nicolas Sarkozy who intervened in the recapitalisation to try to thwart their bid. Mr Sarkozy summoned Eric Fottorino, Le Monde’s editor, to the Elysée palace this month and threatened to withhold state subsidies to the newspaper’s printworks if the trio took ownership of such highly influential title. Mr Sarkozy took issue with the suitability of Mr Niel, who started his fortune investing in adult entertainment. But the president’s motives were more likely political, given the sympathies of Mr Pigasse and Mr Bergé for Mr Sarkozy’s socialist opponents and the trio’s determination not take instructions from the Elysée. Le Monde journalists were furious at Mr Sarkozy’s interference and suspicious about the involvement of France Telecom, which is 26 per cent owned by the French state. The journalists voted by 91 per cent on Friday in favour of the Pigasse-Bergé-Niel bid because it offered better guarantees of editorial independence, was a “more coherent offer” and promised to avoid redundancies. In particular, the winning trio say they want to bring about closer integration of Le Monde’s newspaper and website operations, which are not only editorially separate but are owned separately. Le Monde’s journalists stand to do much better from the winning bid than had been expected when the race to recapitalise the highly indebted newspaper was launched this year. Under the existing complex ownership structure, the editorial staff have a control of a majority of the capital and a veto over the editorial line and choice of editor. Staff expected to lose their guarantees of editorial independence as a result of the recapitalisation and dilution of their stake. But the winning consortium has promised to preserve the staff’s power of veto over the choice of editor and any subsequent takeover. The journalists may even maintain a blocking minority through a foundation set up on their behalf by their generous new owners. However, there remain some question marks about the complex transactions required to complete the recapitalisation, not least whether Lagardère, the French media group, and Prisa will remain as investors in Le Monde. The new owners may also have to dig deeper into their pockets if they want to return Le Monde to health.

Per day.

2010-06-28T05:06:00.001-07:00

Per day. Was right when was telling you that the old whore (Portugal Telecom, Telefonica, GTL Infra) will be participating in my life? In this, a) incredible complex; b) the emotionally demanding issue. Who is keeping enjoying the troika from my pocket? Not the “your-highness”? I was right (i.e. dreams) “a little recommended people”, time to speak for myself, - is now. For you, - Elizabeth the II - old whore is still be not clear the www.workinglinks.co.uk arrival of EdF warden with piggy face of Charles the II from “rusia petroleum” with monkey ears (of MACACO), - knocking at my door to ask (after I have been finishing this issue) for, - ‘How much gas I waste’… Personally, for me this anglo-saxon-rusia-Perugia economics of “gee”, “this year”, “buy the cycle”, “buy the bicycle”, “buy the chair”,- even not start yet… Well, the shit of козло-вонючиx кацапскиx тварeй from camel turned around, - fortunately we are in transformation. With his question, “we” now can pinpoint which areas of “our”, - is in need to be revamped… Tipping “us”, - the Windsor Palace bunch, in questions of friends, business and love life. I am not sure if these philosophies have shaped theirs “personalities” in the fundamental ways. Not at all. Which, again, - is good enough for me. When instead of only black and white, - I start to see, the nation of the shit of козло-вонючиx кацапскиx тварeй from camel turned around, - some shades of grey…

Prince Harry falls off polo pony in New York. 2 hours 15 mins ago. Prince Harry has taken a tumble from his horse before his defeat in a New York polo match against the world's Figueras' Black Watch.

BP Loses $22 Billion in Legacy of Share Buybacks. By Brian Swint and Jessica Resnick-Ault - Jun 28, 2010 Add $22 billion and counting to the loss for BP Plc from the Gulf of Mexico disaster. BP agreed on June 16 to set up a $20 billion escrow fund to be administered independently. Raymond James & Associates Inc. has estimated that the spill may cost BP about $62.9 billion. BP’s leak at its Macondo well illustrates the risk in reducing a company’s cash cushion. For some companies, buybacks are a standard way to allocate cash and can be done “irrationally,” said Weiss. “Companies would be better off not buying back shares when prices are good,” he said. Aside from the $20 billion escrow fund, BP has $5 billion in cash, $5 billion in banking facilities and $5 billion in standby credit lines, according to Odone.
The company has obtained a further $5 billion from banks, according to two people familiar with the matter who declined to be identified because the arrangements aren’t public.

Harry Winston in $100 mn credit facility. Harry Winston Diamond Corp. has it entered into a $100 million revolving credit facility with Standard Chartered Bank, The Associated Press reported. The loan facility will mature on June 24, 2013 and has two one-year extensions at Harry Winston's option. The company said it will use the financing for general corporate purposes. The company said there are no scheduled repayments required before maturity. CEO Robert Gannicott said the financing provides "strengthened liquidity" for the company, which is based in Toronto. Harry Winston Diamond supplies rough diamonds to the global market from its 40 percent ownership interest in the Diavik Diamond Mine. It also sells diamonds and luxury watches at retail locations in including New York, Paris, London, Beijing, Tokyo, and Beverly Hills, Calif., the report said. The Associated Press.

Continuation of the “… discussed at my terms”.

2010-06-28T00:34:00.001-07:00

Continuation of the “… discussed at my terms”. Getting clear to myself about my priorities, about to what I really want, and, to what degree I am prepared to act to get it, - I’m not interested to waste my time trying to get others understand what I mean or what I feel. If the memories want to play a major role, than, - I tell you what: ‘ Então, caros participadores das acçõês, estão lembrar-se dos meus 8%’? The one trivial question which comes from the ultimate “NADA”… Who is only have been utterly pragmatic (not again!), - to avoid the loss. Because, to collecting outstanding debts from ongoing… (you know how I call them), - will help me to realise where I’m standing financially, and, how I (and maybe you) can improve my current situation.

Bava, Bava, - a держава?
Corporate Profile
GTL Infrastructure, established in 2004 and part of Global group, is the pioneer in Shared Telecom Infrastructure in India. GTL Infrastructure offers ready to use passive infrastructure to wireless telecom operators. The company is in the midst of rolling out a Pan India network of 23,700 towers by 2010/11, and is offering the infrastructure to the leading service providers in India. It is a publicly listed company (BSE: 532775 & NSE: GTL Infra), and has emerged as the largest independent tower company in India. GTL Infra is registered with the Department of Telecommunications as an Infrastructure Provider in Category I (IP-I). The Company builds, owns, operates and maintains passive network infrastructure on a shared basis in order to cater to the rapidly growing infrastructure needs of cellular telecom operators.

GTL Infra, Reliance Infratel Create Largest Telecom Infra Unit. Monday June 28, 2010 01:10:00 EDT. (RTTNews) - GTL Infrastructure, of the Global Group Enterprise and a pioneer in shared passive telecom infrastructure, has tied up with Reliance Infratel to form the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator. The GTL board approved in principle for the over-Rs.50,000- crore transaction with Reliance Infratel, a subsidiary of Reliance Communications (R.Com). Both companies agreed to merge Reliance Infratel's assets into GTL Infrastructure. R.Com will receive stock and cash in return. Based on developments in the Indian telecom sector, the likely future demand for telecom infrastructure in India from 14 2G players, the merged entity is expected to derive substantially higher tenancy ratios, apart from ensuring scale benefits and operational synergies. The recent acquisition of tower business of Aircel and Reliance Infratel, would improve tenancy for GTL Infrastructure. Post-merger, the company would have over 80,000 towers and more than 1,25,000 tenancies from over ten telecom operators, including R.Com., Aircel, Etisalat DB Telecom, Idea, Vodafone, Bharti Airtel, MTS, Uninor Telecom, Videocon Mobile, Tata Tele-services and STel. Also, the merged entity will have a firm option of additional 75,000 tenancies from leading players, the company said. R.Com. will utilize the cash proceeds to reduce its consolidated gross debt and improve leverage ratios, effecting enhanced financial flexibility. The shares that the company receives in the newly-merged entity will enable its continued participation in prospects of the high-growth telecom infrastructure sector, a company statement said. The transaction will help R.Com. more than halve its debt, as the Anil Ambani-led company prepares to roll out high-speed wireless services--known as 3G. R.Com. board has separately approved in principle a proposal to induct strategic and/or private equity investors for a 26% share-holding in the company and may become debt-free, say media reports. The proposed transaction will achieve final closing over the next six months. Standard Chartered Bank is the financial advisor to GTL Infra. At the BSE, shares of Reliance Communications are trading at Rs.199.15, up by Rs.6.65 or 3.45% and that of GTL Infrastructure are trading at Rs.48.30, up by Rs.2.95 or 6.50% .

Telecommunications: Administration of PT meets the 24 hours of AG. Economico – Alves. 28/06/10 00:05. California Fund, which has yet to know their vote will be decisive in the House on Wednesday. The board of directors of PT will perform tomorrow afternoon a regular meeting 24 hours before the general meeting of shareholders who must decide on the sale of 50% of Vivo to Telefónica, official sources confirmed the company's Economico Daily. The meeting was scheduled and the agenda are "issues of daily management of the company and not to bid for Living." However, given the proximity of the general assembly, any movement of Telefónica eventually, of course, on condition the agenda. Moreover, it remains unclear whether the latest move by Telefónica to ensure a favorable vote of the shareholders of the Portuguese operator to offer 6.5 billion euros, and even if there is one last attempt.
First, Telefonica rehearsed a proposal on special distribution of dividends, which was lead by Chairman of the General Assembly, Menezes Cordeiro, then sold 8% stake it held in PT, through an 'equity swap' operation aimed at secure more votes in the House on Wednesday and is under close analysis of the CMVM. Within this framework, uncertainty, which PT and Telefonica have guns to the meeting that will decide the future of Vivo. After the declarations of the Portuguese shareholders long term against the bid of Telefónica (CGD Ongoing and [owner's Economic Daily]) and the expected rejection of the BES, all eyes are turning to the major shareholders who have not taken a position on the business, with emphasis on fund Brandes, which is the second largest investor in PT, with 7.89% stake.

Queen Saves The Day For Stranded Dad-To-Be. Sunday, June 27 05:27 am. It's been a standing gag in the Harrison household that my birth received the Royal seal of approval. Skip related content Thirty-seven years later, just as I thought I'd heard the story recounted for the last time - it's about to be dusted off and given the red carpet treatment.

Continuation of the “Like a Rule”.

2010-06-27T10:15:00.001-07:00

Continuation of the “Like a Rule”. I was telling you how the Potatine of Anglogold, of AngloAmerican Platinum, and of the Black Web’s of Prince Charles the II (never hear call him before “a preto”) was reading something very fun from high tribune, and than I receive the bullet in my left temple? I was telling you too, how I put the two-neck-picture of the “REM soloists” in my Blog, and at night the ‘posted picture’ – hit me in the back of my head? Was I, - who was telling “story” about yesterday two brothers run at my direction at the nearest HSBC? No? And before that, - the General (I’m not joking) of Salvation Army, ‘de bolina serrada’ making me гоп-стоп “nearby” the Balmorals Palace side-street? Only because he extort from me (actually a big sum for “my high”) money having all this covered with the “his contoro” structure… Well, to be shorty I “start explain” the ‘Boring situation’: a routine procedure, situation, or way of life that has become uninteresting and tiresome. Exm. - I felt I was in a rut. (Almohads say: (Estar na foça) The Latin people also say: - ‘Vingança – e um prato frio…’ For me, its have a special meaning. To completely understand, or “interpret”, - the english speaking World say, that leftover food can sometimes taste nicer, than it did on the day it was cooked. Well, than, my ‘respectful’ G-8 “co-workers” and “colleagues” let’s start “OUR” frenzy feeding. Starting with Byelorussia (not Belarus like you like Prince Charles the II) valve… Which, we all see how for short period of time SHE was too frequently “in-and-out”. More later you understand why the Lukashenko even recall the two (2), not the two billion of Great Britain Pounds, but, ‘two pounds’ LEND to him by the sranaia, of cocaine from Roayl Family of Lancaster’s churka, - in this “case” Aliev’s… Which the www.workinglinks.co.uk called: - ‘Family-Business-…,-not-one-interview-in-six-months…’ And I, “naively” call this, - the Royalties & Concessions. Like I should, but always choosing the path of “Claiming space” message… Not strangely that in these times generally, and this weeks particularly things are a) incredible complex; b) emotionally too demanding. The new (?) long term relationships, the “that” ground-breaking (you nation of the shit of козло-вонючиx кацапскиx тварeй from camel turned around understand what I mean? Do you?), commitments to common goals, - WILL NOW OPENLY DISSCUSSED AT MY TERMS.

Which at the moment, as a matter of fact, I must say, - I’m completely torn between what I should do and what I want to do… Which for the old fxxxx whore is none of compassion; and at least for two decades… in her egoism, - she’ll never understand photon/electron physics between my personal responsibilities’, and …the money. With all her ardour, tomorrow, she will start to exercise upon me the “practical” application. Inundating me in the Sea of Uncertainty, like only the British Natural History Museum can do. Regardless of the “rusia petroleum” broken hub… You liked this “Big Cahoona” burger plate? Let’s to the deserts… Which, actually have a lot to do with “these days” my internet connection. With the invulnerable side, whereas my insight, desirable luck is within a very ‘definite limits’… And this is exactly at the period of the most important, fundamental and systematic issues. In place will be to mention the “European engine’s” SMS gap? Or “we” keep be happy with the “even-the-one-interview-in-six-months-you-”don’t have””? Cary on through my head, - request an additional information? The one example for the old fxxxx whore: Having, with blood accumulating a reasonable credit in my account, which after 12 (twelve) years was doubled. I make the vital acquisition without closely even in approximates, to the previously agreed limit. I sure, that you old fxxxx whore, - know the rest of story… Than, “we” want that I ask my-self for advice, support and the possible maintains? Fat mouths, - like my desert?

Assassins collectors looking for the best investigators CID . Early Sunday morning in downtown Moscow was an armed attack on the armored truck, which killed three members of the non-banking credit organization "Inkahran. As it turned out, one of three killed himself was the shooter in the collectors. According to preliminary reports, shots were fired inside the car. Not far from the car was found a student ID card, but it is unclear whether this is related to the crime. "Until we know for certain that the shots were made from the IZH system Makarov and TT pistol," the money was carrying employees of chop, but not professional as collectors. As it became known, died collectors - are employees non-bank credit organization "Inkahran.

Grupo de 40 jovens ameaça e tenta assaltos em comboio, obrigando PSP a intervir e fazer detenções. RTP. 22:04. Lisboa, 26 jun (lusa) -- Um grupo de cerca de 40 jovens provocou hoje o alarme, com desacatos e tentativas de assalto, entre os passageiros de um comboio da linha Lisboa-Cascais, obrigando à intervenção da Polícia de Segurança Pública (PSP)

Money for the calculation with Gazprom for the gas delivered lent Belarus Azerbaijani President Ilham Aliyev, said the president of the republic, Alexander Lukashenko.

Reason: Gabriel had proposed to the chancellor and CDU chairman for the Office of the President of the former GDR civil rights as a bipartisan candidate Joachim Gauck - Merkel's brief reply SMS "Thanks for the info and was cordial greetings to the" (short for Angela Merkel) to The media arrives. According to "mirror" the detuning Merkel is so large that they attempt an apology Gabriels answered by SMS sent.
Joachim Gauck, a former head of the Stasi Records Authority goes for SPD and Greens in the race for the Kohler's successor. Born in Rostock was a potential presidential candidate for the CDU and FDP traded several times. But it was different.

El presidente de la compañía lusa Portugal Telecom (PT), Zeinal Bava, considera que la oferta de la española Telefónica al operador portugués por hacerse con el control de la brasileña Vivo "no es una opa sobre la PT, pero sí sobre la mitad de la PT". En una entrevista que publica hoy sábado el semanario luso Expresso, Bava recuerda que la empresa que dirige está "siempre" preparada y avisa de que cuando les subestiman "las cosas van mal". Telefónica ofrece desde el pasado 2 de junio 6.500 millones de euros para hacerse con el 100% de Brasilcel, la empresa con la que PT y Telefónica controlan a medias el 60% de Vivo. La firma portuguesa decidió llevar esta propuesta a su asamblea general del próximo 30 de junio. Durante la entrevista, el presidente de PT se reafirma en sus declaraciones recientes -tilda de "traición" la operación de Telefónica- e insiste en que la empresa lusa quiere mantener Vivo, operador móvil líder en Brasil, porque "va a crear mucho valor en el futuro". "Voy a la Asamblea General del día 30 con la convicción de que todos los inversores a largo plazo nos van a apoyar", manifiesta Bava. Los principales accionistas de PT, después de que Telefónica vendiese esta semana un 8% de su participación, son el grupo financiero portugués Espírito Santo (7,99%), el fondo estadounidense Brandes Investment Partners (7,89%), al banco público Caixa Geral de Depósitos (CGD) (7,30%) y el conglomerado portugués Ongoing (6,74). Por su parte, el primer ministro de Portugal, José Sócrates, afirmó ayer que el Estado luso, que mantiene en PT derechos especiales de veto, ha dado indicaciones a la CGD para votar contra la oferta de Telefónica.

Like a rule.

2010-06-26T04:21:00.000-07:00

Like a rule, I like to make the constant assessment in orientation on the reactions of who’s important. This by all means, understandable and completely normal. Maybe it’s because I “become” so sensible (with fifteen years time-frame), - that the others resolve to “shatter the silence” and ‘run at my direction’ to declare theirs feelings… Seems, that I’m (“surprisingly”) become very well connected? Or just because of the some Lunar Eclipse take his place in opposite side of
козло-вонючиx кацапскиx тварeй? Well, the absolute козло-вонючиe кацапскиe твари, - you should remember and MUST understood, that whether or not one relationship is FUNDAMENTALLY over, what’s happens next (the козло-вонючaя кацапская тварь), - is designed to do the unconditional opposite…

On the track "Dawn" with holiday-bus collided with a truck. 25 June 2010. The bus was traveling from Bryansk in Anapa, collided in the Voronezh region with a truck KAMAZ. As a result of the incident has affected. According to RBC in the regional emergencies department, the accident occurred at 00:25 Moscow time on the 717 th km of the "Don" in Verhnemamonskom area. As a result, affected 10 people - the bus driver and nine passengers. Condition of three of them rated as difficult. Causes of accidents are established. Recall, on Thursday a major accident occurred in the Omsk region. There KAMAZ drove into the oncoming lane, where crashed into a convoy of buses with children, accompanied by a DPS vehicle. The incident resulted in death of a child and two adults who were traveling together with students in summer camp. The verification and investigation of a criminal case over an accident in the Omsk region has assumed the Prosecutor General of Russia. The case of part 5 st.264 Criminal Code - "Violation of traffic rules and operation of vehicles, negligently caused the death of two or more people" - brought against the driver of the truck.

Rosrybolovstva lays catch. Escape from his pursuers, the official threw the car the 10 million bribes. This thriller was played on Thursday evening in Moscow. After receiving a bribe of 10 million rubles., The clerk Rosrybolovstva tried to escape in his Ford on the FSB, but realizing that the escape does not succeed, started on the move shook the package on the roadway money. As a result, the 5000th bills scattered on the Warsaw highway, where the events took place. GAI staff had to quickly block the traffic, but the enterprising motorists had to pick up about 1 million rubles. Yesterday the investigative committee at the Federal Procurator Rosrybolovstva officially warned about the need to "eliminate the causes, contributing to corruption. In Office, promised to reform. The story begins with a banal check the Federal Agency for Fisheries (Rosrybolovstva) of "Lucia +" engaged in the provision of services in the field of sports and recreational fishing. Fishers, this structure is more commonly known as angling club golden carp, which organizes a paid fishing on ponds and lakes near Kaluga, Simferopol and Riga highway. Audited the head of the department of state control, supervision and protection of water biological resources and their habitat Moscow-Oka Territorial Administration Rosrybolovstva Roman Postnikov and his deputy Boris Simonov found that agreement among merchants was concluded with the Federal Mosrybvod "back in 2006. Meanwhile, since the federal law has changed, introducing a new procedure for the provision of services on a fee fishing. However, the leadership LLC Lucia + "paper does not re-executed. As a result, Mr. Postnikov allegedly threatened to cancel the contract with the merchants, referring to the appropriate order from the department on Feb. 16, 2010. In this case, entrepreneurs, he said, also would have to pay for breaking the law a huge compensation that, in fact, could lead to bankruptcy of the company. However, the parties settled on an alternative solution. According to investigators, Mr Postnikov agreed to sign an agreement backdated to the entry into force of amendments to the legislation. For this service official demanded that CEO LTD Lucia + Vladimir Petrushin 10 million rubles. The details of the transaction the parties began to discuss in March. At the same time the businessman turned to law enforcement. June 18 Roman Postnikov and Boris Simonov was invited to his office at the Warsaw highway, 39A Mr Petrushina which showed him the contract with his firm, dated February 2010. Subsequent events unfolded as follows. June 24 M. Postnikov arrived at the club "Golden carp" in the Podolsk district, Moscow region, where the Lord gave Peter's signed contract. Partner businessman Anton Krasilnikov was at this time, together with Boris Simonov near the office clerk. After Vladimir Petrushin Mr. Krasilnikov said by telephone that the documents received, he gave 10 million rubles. Mr. Simonov. When the officer got into his Jeep and Ford moved, they tried to block the machine operatives FSB. But Ford, crashing into the stand at the side of the car, burst into the Warsaw highway. However, realizing that clogged the road to chase him not to leave, Boris Simonov on the move began to shake out of the package of money. Five-thousand labeled bills scattered on the Warsaw highway. Inspector had to quickly block the traffic for about three-kilometer section of road. When the money collected, it became clear that lacks about 1 million rubles. That managed to pick up at passing motorists. Mr. Simon himself, just like his boss, the staff managed to keep the FSB. For them, the investigating committee of the RF Prosecutor instituted criminal proceedings under art. 290 of the Criminal Code (Bribe-taking "). Today consequence is planning to apply to court for their arrest. In Rosrybolovstva Kommersant reported that the signals on Roman Postnikov and Boris Simonov, the last six months there were leadership several times. "We have informed about this law enforcement agencies, in the end and resulted in this thriller - told Kommersant director for public relations agencies Alexander Saveliev. The representatives of LLC "Lucia +" yesterday for comment were not available. In turn, a spokesman for the investigative committee at the Prosecutor's Office Vladimir Markin said that the investigation is going forward to the leadership Rosrybolovstva idea of eliminating the causes contributing to the occurrence of corruption crimes by members of the Ministry. "If the leadership Rosrybolovstva not be taken serious measures to prevent similar cases, the perpetrators of such heinous crimes can get systemic," - said Mr. Markin, recalling that in April this year was a criminal case against the assistant manager Rosrybolovstva Igor Bakulina detainee when receiving a bribe of $ 250 thousand (details about the case of Kommersant told April 24). In Rosrybolovstva promised to continue to cooperate fully with law enforcement authorities in the fight against corruption. "We will burn the evil red-hot iron" - promised the ITAR-Tass Rosrybolovstva Andrei Krainov.

Kозло-вонючиe кацапскиe твари.

2010-06-25T12:03:00.000-07:00

Last thing I do козло-вонючaя кацапская тварь… Maybe not start with this? Maybe, just start cry and describe how “somebody” not the козло-вонючaя кацапский подонок design the Prohorov with rooten teeth, reading my blog. But, turned to the North… And I receive the blow in my temple? Or describe in my notes the how much cвинячее ebalo of yours lucky dwarf pay for his Coca Cola? Or pass you, the ‘rusia petroleum’ degenerates, and receive from the ‘Inturist’s-жевачка-of-one-pound-Guardian’ In Afro-‘british-power’ variant? Of what? Of козло-вонючиx кацапскиx тварeй свинячих шкур цвет? This козло-вонючиe кацапскиe козлы, - is the price for next century Vardaniana… For you, diplomatically speaking, - take the yours Vassilenko. And only then, start is real for well known ‘rusia petroleum’. For me enough is nothing less if not HAEБКИ from absolute козло-вонючиe кацапскиe твари. The “our” stirred love and relationships seems to be going NOWHERE. Could than, this evolution move us closer to talk about the marriage?

Basel III Agreement

2010-06-25T04:56:00.000-07:00

I liked how the Institute for International Finance resolves the Basel III Agreement nicely describing by the Reuters article. That’s is why I don’t liked how the a very manipulative “colleague” resume to assume “Total” control over the someone else, the empty “Shell” joint account. After seeing this pictures, should I say that ‘someone’s’ joint-venture has been compromised? And after this, walking around me, and wondering in how can I insist to put my foot down even at the risk to destroying an important (?) relationship? Should I remind to these Zorba the Greek “co-worker” how enormous have been this ‘collaborative’ effort? The “one interview per six months”, who will be not feeling comfortable? My school’s German-Greek? Which “we” should put the price tag, when the natural order of things – are disrupted? The secretary, - Madame Shreder with the bottle of “virgin” olive oil in “her” hands? Should I being surprised if one of these (ever best) ideas are rejected? No, I shouldn’t. In other hand, - I know, what has been possible so far.

Zorba the Greek Offside?: Exclusive Interview Expresso / SIC. Zeinal Bava, CEO of PT, argues that the operation that Telefonica has made to move their operations to the hands of banks and investment funds deserves action by the CMVM. It was a move made to reach the same goal. And the truth is that the passage of shares in Telefónica's hands (which was precluded from voting) to banks and investment funds on the eve of the Assembly General (AG of PT) can have decisive consequences on the future of Vivo. With this passage, which apparently is not a sale but an operation temporary financial (equity swaps), Telefonica wanted to bypass the impediment to vote at AGM next 30 days. But still not sure what you achieve. PT asked the Commission to intervene in Securities Markets and president of AG, because they think it is a false sale and that the new holders of shares must also be prevented from voting. The attempted purchase by Telefónica of Vivo is thus transformed into a war far more complex than Sonaecom takeover of PT. And especially, played with much more unexpected.

Shares: PT and BPI fall 4% at a session of nerves in Lisbon. 24/06/10 16:43. The national stock market today has the worst performance in a month. On the day that the risk of the Greek debt reached its historical peak, with the probability of default to standing at 56.71%, the major European markets lost more than 2%.

Basel III: Grounds for optimism. MAY 26, 2010 10:15 EDT. If you’re not a central banker and don’t even know any central bankers, chances are that you’ve never heard of Global Risk Regulator, a trade publication in London. But right now it’s very much worth paying attention to them, because their sources in and around Basel are unsurpassed. And it turns out, reading the cover story from their latest issue — which they’ve been nice enough to put online for free — that the central bankers seem to have the upper hand, right now, in the fight with the bankers.

Executive launches new line of credit of 700 million. 25/06/10 10:24. Companies that have used the funding will have a new credit line of 700 million euros. Jose Socrates opened the debate biweekly today with the announcement of three new measures to accelerate implementation of the NSRF. Among them is opening a new credit line of 700 million euros to support the companies that have resorted to financing and "they experience difficulties in bank credit," said the prime minister. The difficulty that the new market conditions require firms thus leads the government to open an exceptional period of three months for them to recast their projects already submitted and approved by the NSRF, adapted to the new environment. Accounts Executive do anticipate supporting more than 3,100 companies, with projects in excess of 3,400 million euros and generating 9700 jobs. The government will also launch two new bids to fund new projects internationalization of companies and research and development projects worth 150 million euros.

Косточки в ряд, звёздочки в ряд, - трамвай переехал отряд октябрят…

2010-06-24T04:25:00.001-07:00

Косточки в ряд, звёздочки в ряд, - трамвай переехал отряд октябрят… Because, - I’m “confuse”. Like the “loss” in my position, status, “salary” and the self-respect? Or just think a bit deeper about to be risky involved onto the nuttier-than-a-fruit-cake hope? Perhaps, it’s because I had a “disturbed” view of a “new” situation? And now, at least, - it feels not clear enough to me? Darling, how was that, about the CTT Correios? In the ways of the ‘Barata Feio Todobom’? It’s not the title of today, - it’s my dream. Was the interesting one this night. A little disperse, but, - have the all making my mind details. Call yours attention my “friends”, “colleagues” and “co-workers”, - it’s just a dream, like Tom Cruse singing, - just a dream. That, I’m the landlord of very shick apartment in the noisy centre of Lisbon. In the very posh area. At the ground floor. (Off course, the referring to the monumental position from Brussels and Strasburg of the “benção dada ao bastardo” which is of course, my 120 000 tones per year of Portland 450 cement). All furnished at the high standards, modernly equipped, but, the dining room are furnished in the years fifties style. However, the kitchen is in complete mess. The empty “shell” without flooring, full of rubbish. ‘Orienting’ my self by the furniture, - I have a little Irish story to this dream attached. To which I don’t go to referring here… for the sick of Paraguayan colonels. In stead, I just put what the people says about. ((To dream about an apartment, symbolizes a financial or situational state (the estadistas in this “case”). To dream of a large, lavish apartment, indicates an increase to your financial situation or an improvement to your family life. To dream of a shabby and dark apartment (the Chelsea Barracks “kitchen”), indicates misfortune and possible loss.)) This kind of my version of rising voice and “some one” else’s is of course open to interpretations. But there’s too, - I don’t have another way (who’s guilty?) to be heard. Whatever is my value system. However is the my way to have a “few” bad experiences which notably eroded my natural resilience. In a way that I had nothing, even the VOSTRO left.

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Prince of Wales's emotional Chelsea Barracks letter revealed. Full details of how the Prince of Wales lobbied the Prime Minister of Qatar to withdraw a £3 billion development scheme for the Chelsea Barracks site in central London have been revealed. 7:30AM BST 24 Jun 2010. To date only extracts from the Prince's letter, in which he said his "heart sank" at seeing Lord Rogers' modernist plan, have been read to the High Court. But now Mr Justice Vos has allowed the whole two-page letter, packed with emotional language about the perils of modern architecture, to be made public. In the personally signed letter to Sheikh Hamad bin Jassim bin Jabr Al-Thani, the Prince likened Lord Rogers' Chelsea Barracks proposal – for a series of concrete, glass and steel blocks – to what he called other "Brutalist" developments that amounted to a "gigantic experiment with the very soul of our capital city". By contrast, he lauded Georgian areas such as central Bath and Edinburgh, as "timeless" – one of 14 words he underlined for added emphasis. He wrote: "I only mention this because, quite frankly, my heart sank when I saw the plans that have been produced for the old Chelsea Barracks site." He continued: "I am so sorry to have to write to you on this subject, and thus be so interfering, but it is a site of great [underlined] importance in London and therefore deserves something that is appropriate to its context and worthy of its position next to the Royal Hospital." Three months after the March 2009 letter, Qatari Diar, a development company owned by the Gulf state's royal family, withdrew its application – just days before it was due to go before Westminster City Council's planning officers. The decision sparked an £81 million legal dispute between Qatari Diar and its co-developer, Christian Candy. The letter – the existence of which was leaked – also reignited the debate about whether the Prince should wield his considerable influence to change the planning process. It is his most significant intervention since he described a proposed extension for the National Gallery as "a monstrous carbuncle" 26 years ago, which resulted in the plan being changed. In the 600-word letter the Prince also attached an alternative neo-Georgian scheme by Quinlan Terry, his favourite architect, saying to the sheikh "I wonder if you might be interested to see" them. He repeatedly pressed the sheikh to reconsider in favour of something with " 'old-fashioned' virtues". "I hate to labour this point, but I really do not think I am alone in being deeply concerned about what happens to the old Chelsea Barracks site," he wrote. Nine weeks later Sheikh Hamad responded defending the scheme. He wrote: "We believed that in choosing a leading British architect, a super-high end residential London developer, we have met our aim ... [of] ... balancing excellence with environmentally, socially and commercially sustainable large-scale developments". However, Qatari Diar withdrew the plan soon afterwards, following a face-to-face meeting between the Prince and the Emir of Qatar, who is Sheikh Hamad's cousin. Mr Candy's company, CPC Group, is claiming the Emir influenced that decision, leading to a breach of the contract between the two developers. Qatari Diar claims it withdrew because of indications that the plan would be rejected by Westminster council or the Mayor of London. Mr Justice Vos is due to hand down his verdict on Friday.

In Spain, the train brought down 26 people, 12 killed. MADRID. Thu Jun 24, 2010 3:53am EDT. (Reuters) - Twelve people were killed when a high-speed train slammed into them as they tried to cross a railway line to get to a festival on a beach near Barcelona late on Wednesday. Thirteen others were injured in the accident at about 11:30 p.m. (2130 GMT) as a group of mostly young people headed for the annual Saint John's Day celebration at the town of Castelldefels, the Catalan government said. Emergency services found dismembered bodies scattered at the scene, a short distance from the Castelldefels beach. One youth told SER radio the revelers had just got off a train. "At that moment a train came from the other direction and ran everyone over," said the youth, who gave his name only as Fernando. "The accident has taken 12 lives and there's 13 injured, three in critical condition. I wish them a quick recovery," said Joan Saura, the Catalan regional government's interior minister. Dozens of people had been trying to cross the track at an unauthorized point instead of using an underpass on the line between Barcelona and Alicante, the mayor of Castelldefels said. Earlier reports suggested the underpass had been closed or not well signed, but the mayor said it had been open.
Railway operator Renfe said it would carry out a full investigation. Spain's public works minister Jose Blanco said he would cut short his visit to Luxembourg to go to the scene later on Thursday. He urged an investigation as soon as possible. St. John's Day, June 24, is a public holiday in many parts of Spain and bonfire celebrations traditionally begin the night before. The accident was Spain's worst rail accident since 2003, when 19 people died when two trains collided near the central town of Chinchilla.

The daughter of ‘rusia petroleum’ A Rainha Isabel, dos Santos threat hangs in the entry of Petrobras Galp. 24/06/10 00:05. The manager wrote the Americo Amorim to reinforce the intention of leaving Amorim Energia and go directly to Galp. Otherwise, the threat hangs entry of Brazilians. The differences between Amorim and businesswoman Isabel dos Santos, daughter of Angolan President Jose Eduardo dos Santos, turned sour and the promise and puffing. The focus of contention is, again, Galp. Indirect shareholder of Portuguese oil by Amorim Energia, the manager has already announced formally Amorim who is dissatisfied with the current ratio. The Economic Daily knows that a letter signed by her husband, Sindika Dokolo - which is representative of 'holding' Espéraza in Amorim Energia - the company expressed the same dissatisfaction and intention to leave the capital of this company which currently owns 33.34% Galp. The purpose of Isabel dos Santos is to ensure direct entry in the Portuguese oil. A scenario that opens with the eventual departure of Eni - whose position at Galp is being negotiated with Brazil's Petrobras - but has been hampered by the alliance with Amorim. Long-standing strategic partner of Galp, the Italian energy group Eni is finalizing the sale of 25% of its shares and the price is the last obstacle to overcome lack. The Brazilians would like, however, see the operation achieved before the capital increase of Petrobras - which was yesterday postponed to September - and the general elections in that country, scheduled for October.

Como a minha esquerda esta sheio de agua, - não vou comentar…:

2010-06-23T07:44:00.000-07:00

Como a minha esquerda esta sheio de agua, - não vou comentar…:

CMVM seeks clarification from the PT and Telefónica. Economico with Lusa. 23/06/10 14:40. The CMVM requested information from the PT and Telefónica on the possible sale of a position he holds in the Spanish Portuguese company. CMVM official source said "have already been requested clarification from the PT and Telefónica," after the Journal of businesses have reported today that Telefonica has sold 8% of the roughly 10% holding in Portugal Telecom. This at a time that is missing about a week to the general meeting of shareholders of the Portuguese operator, who will decide on the proposed purchase of 30% that the PT holds in Vivo by Telefónica. The Spanish company offers 6.5 billion euros for this position, a value that the company's management believes that Portugal does not reflect the strategic value of the Brazilian operator. Telefonica has a qualifying holding in PT 10%, and the proximity of the general meeting of shareholders determines that sales operations positions of this size is communicated to the market as soon as possible. The Portuguese operator Telefonica and each hold a 50% holoding Brasilcel, which controls in turn, 60% of the Brazilian mobile operator Vivo.

Telefónica sells 8% to other shareholders of PT. Economico. 23/06/10 13:05. The Spanish telecom has sold 8% of PT, ie, almost all of their position in PT. The report, put forward by the Business Journal, needs clarification, since the operation was not communicated to the market regulator, neither Portuguese nor Spanish. Why have lowered his position to a level below 5%, Telefónica is obliged to communicate the business market. The same source, which does not help where it obtained the information, writes that these 8% were sold in several blocks to other shareholders of Portugal Telecom (PT). The news comes on the eve of the general meeting of PT, scheduled for June 30, where shareholders will decide whether to sell to Telefónica Vivo against the will of Zeinal Bava and Granadeiro. PT shares little changed following (-0.07%) at 894 euros, while the roles of Telefonica falls 0.6% to 16.26 euros.

The left full of water.

2010-06-23T02:37:00.000-07:00

The left full of water. Separating private and professional ventures has never been more confounding and revealing. But, it’s in one side. At the other, - it’s feels like I’m continuously the 24/7 still be not interested. More yet in the presence of an utterly cantankerous client, which everyone know how I’m calling them. Which, again, everyone know how they calling me, - i.e. “what-you-do-to-find-the-job”. However, at the same time, I sense that him, or her to approve me. Judge by yourself. The first dream was the butter holder, which slip from my hands. This is simple to interpret. It’s кацапских тварей Eurasia. (The TV Licence, with face of Valentina Vassilenko - knock at my door in this moment…) I try to pick it up, but, have a big Kaзaнь (i.e. pan) instead… The huge electric shock runs through my body… The second dream, - a couple (one with the chinese face of Miller), walking away from desperate and angry small girl… (To see couple in your dream, symbolize marriage, your parents, or a relationship. Concider what the couple are doing in your dream for additional clues about their significance. I.e. the Belarus energy vector). In place to mention how it’s happen that the because of the medvedev’s high, - he become a heavy-metal fun and now the heterophilist for many years? From the simple question of who had the difference between the $32 billion (for Kyrgyzstan), and the $22 billion (for Skolko vo)? Well darlings, - I know the answer. It’s me darlings. It’s me and not the dog who still keep out the key even for you, - the darling asylum’s inmates. And you know what I mean. Kозло-вонючие козловидные, - it’s what you like most to paint from my persona. But, someday you’ll understand how erratic behaviour is wearing on everybody’s Peter Pan’s nerves. By me, - I’ll keep it simple and effective.

President of Russia presented the award to Chubais. Head of state corporations Rosnano Anatoly Chubais, was awarded the Order of Merit "IV degree. As stated in the decree of President Dmitry Medvedev, the award was awarded "for his great contribution to the implementation of state policy in nanotechnology and many years of diligent work." The document is dated June 16, 2010.

Russian leader Medvedev starts first US visit. (AFP) – 2 hours ago. SAN FRANCISCO — Russian President Dmitry Medvedev started his first US visit with a stop in California to tap into the innovative power that has made Silicon Valley a hotbed for winning technology firms. Medvedev met with actor-turned-governor Arnold Schwarzenegger late Tuesday after arriving in San Francisco. Apple, Google, Twitter, and Cisco were on his itinerary for the following day and he is reportedly interested in getting talent or pacts from the Silicon Valley stars.

Belarus Cuts Off Gas Transited to Europe. Gas shortages may affect Poland, Lithuania, and Germany. A day after Russia cut back gas supplies to Belarus over a debt dispute, Minsk announced that it would block Russian gas from traveling through Belarus to the rest of Europe. “I ordered that the government block gas transit through Belarus until Russian state-controlled gas company Gasprom paid for transit fees,” Belarusian President Alexander Lukashenko said at a meeting with Russia’s Foreign Minister Sergey Lavrov on Tuesday. Lukashenko promised to repay the debt using the money he had “borrowed from his friends,” as there was no spare cash available. On Monday, Gasprom cut gas supplies to Belarus by 30 percent because of an unpaid debt of $192 million. Russia in turn, owes Belarus over $200 million in fees for gas transited to European countries. Belarus’s debt to Russia has been accumulating because since January, Minsk had been paying for Russian gas at 2009 rates. Meanwhile, Russia had increased gas prices for Belarus from $150 per 1,000 cubic meters to $169 in the first quarter of 2010, and $184 in the second quarter. European Commission energy spokeswoman Marlene Holzner said on June 22 that the gas interruptions would likely affect Poland, Lithuania, and Germany. A similar incident happened last January between Ukraine and Russia that left parts of Europe without Russian gas for two weeks during the winter. The current gas issue creates a political reason for Moscow to make Belarus join a Kremlin-headed customs union with Kazakhstan, according to analysts. Last May, the three countries failed to sign an agreement on the customs union due to a disagreement by Belarus over duties on oil and petroleum. Russia claimed that it was looking for alternative routes to transport the gas to Europe. Ukraine has already stated it could supply the extra gas to Europe. Russia supplies 20 percent of its natural gas to Europe using Belarus's transportation system, the rest is transported through Ukraine.

BASF seals €3.1bn Cognis deal. June 23 2010 07:46. BASF on Wednesday sealed a €3.1bn ($3.8bn) deal to take over smaller rival Cognis, in one of the largest acquisitions the chemicals sector has seen this year. The world’s largest chemicals company by revenues said it had reached an agreement with Cognis’s owners – US investment bank Goldman Sachs and British private equity group Permira – to buy the company for an equity purchasing price of €700m. Including Cognis’ high debt load and the speciality chemicals maker’s pension obligations, the deal values the company at €3.1bn. The move, which is subject to regulatory approval and is expected to be formally completed by November, marks a fast return to acquisitions for BASF after its almost €4bn takeover of Swiss rival Ciba in 2008. The deal will give the German chemical maker a boost in its drive to diversify away from oil-based products into environmentally friendly and higher margin products with natural ingredients. Cognis produces cosmetics and personal care products made from natural resources such as coconut oil. “With the acquisition of Cognis, we are strengthening our portfolio with cyclically robust and profitable businesses and further expanding our position as the world’s leading chemical company,” Jürgen Hambrecht, BASF’s chief executive, said. The deal could mark Mr Hambrecht’s last major strategic step, who is set to be replaced by chief financial officer Kurt Bock next year. BASF is planning to integrate the business into its performance products segment, which made revenues of €9.4bn in the past year. “By purchasing Cognis, we will in particular expand our portfolio with products based on renewable raw materials,” John Feldmann, head of BASF’s performance products, said. Antonio Trius, Cognis’ chief executive officer, said: “The transaction combines expertise and synergies in technologies, innovations and market know-how. We also believe that Cognis’ excellent market position and clear focus on the trends wellness and sustainability, especially our green products, make a perfect strategic fit.” The purchasing price for Cognis, which made revenues of €2.6bn in the past year, is in line with analysts’ expectations. A multiple of 1.1 to 1.3 times sales had been viewed as reasonable by some analysts. Cognis’ owners, Goldman Sachs and Permira, had been haggling for months with BASF over the price for the medium-sized German speciality chemicals maker. While Goldman and Permira hoped to fetch up to €3.5bn, BASF, which has been advised by investment bank Lazard, initially hesitated to pay more than €3bn as it was wary not to be seen as overpaying after its acquisition of Ciba drew criticism. Goldman and Permira have turned down a partly-share financed offer by rival Lubrizol recently as they were not interested in owning a stake in the US specialty chemicals maker.

'A Biko Holding шукати нэ будеш...'

2010-06-21T01:40:00.000-07:00

'A Biko Holding шукати нэ будеш...':
The $32 billion for Kirgizstan minus $22 billion for Skolkovo = $10 billion in who’s pocket?

Australian mining tycoon Ken Talbot goes missing over Africa. Britons reportedly among 11 on chartered flight from Cameroon to Congo-Brazzaville. Sunday 20 June 2010 23.38 BST. Australian mining executives and one of the country's richest men are feared dead after their chartered plane went missing over central Africa. Some reports said Britons were also aboard. Ken Talbot, who made his fortune in coal mining in Queensland, was among nine passengers on the plane chartered by Sundance Resources, a Perth-based iron ore company, the firm said in a statement. The plane disappeared yesterday as it flew from the Cameroon capital, Yaoundé, to the neighboring Congo-Brazzaville, where the firm has mining interests. Talbot is a non-executive director of Sundance and his investment company, Talbot Group, owns almost a fifth of it. Also on the plane were Sundance's chief executive, chairman, company secretary and two other non-executive directors. Separately, Talbot's company named a seventh passenger as one of its own executives, Natasha Flason Brian, who is from France but lives in Australia. The plane is said to have had two crew. Some local reports said British nationals were believed to be among the others missing. The Foreign Office in London said it was aware of the reports. A search was launched this morning involving planes from Cameroon and Congo. "The families of the missing have been notified and are being supported during this deeply distressing time," Sundance said, adding that the company had asked Australia's stock market to halt trading in its shares. Australia's foreign minister, Stephen Smith, said six Australians were confirmed as being on the flight, which was travelling over a region of dense jungle. "We are seriously concerned about their safety and wellbeing," he said. A spokesman for Talbot Group said they had not heard from Talbot for 24 hours and "we're keeping our fingers crossed". He told the Sydney Morning Herald: "It's a very remote part of the world, where communications are at very best satellite communications only. Until the search party gets out there, which has just happened, we're not sure."
Talbot, the son of a New South Wales truck driver, was a mining executive for decades before setting up his own venture, Macarthur Coal, in 1995. Just seven years later, it floated on stock markets with a value of almost £2bn. He later sold his stake and has a personal fortune estimated at nearly AU$1bn (£585m), with luxury homes in locations including Paris and Lake Como, Italy. Rather than retire, he set up Talbot Group to look for new investments, saying: "All I know is the coal industry. If I was not working in the coal industry I would get bored." Talbot hit controversy when a Queensland state MP, Gordon Nuttall, was accused of corruptly accepting about £175,000 from him. Nuttall was jailed in 2009 for seven years. Talbot was due to appear in court this August charged with making corrupt payments, which he denied.
Sundance's main business venture in the region is the huge Mbalam project in the far south of Cameroon, stretching into Congo-Brazzaville.

Australia and China sign over $8bn worth of deals. SYDNEY/CANBERRA, June 21 (Reuters) - Australia and China signed commercial deals worth more than $8.8bn on Monday, largely in mining, in another sign that a new Australian mining tax has failed to dampen inward Chinese investment.
The signings, witnessed by visiting Chinese Vice-President Xi Jinping, included deals for state-owned China Development Bank to provide financing for several major mining projects, including a $1.2bn loan for an iron ore development. Australian Prime Minister Kevin Rudd, who is fighting a fierce mining backlash against the 40 per cent mine-profits tax, highlighted that seven of the 10 bilateral deals signed on Monday covered the resources and energy industries. “The Chinese are still active partners with all of our resource companies. There is a lot of good stuff going on out there,” Mr Rudd told reporters after the signings.
“It is important to separate the facts of what’s going on from some of the fear that is being pushed by some companies who object to paying a bit more tax.” Miners have threatened to axe more than $20bn in new Australian projects if the tax is introduced in its current form. The world’s second biggest iron ore miner, Rio Tinto, has said that Australia is now its top sovereign-risk issue worldwide. The miners’ warnings, backed up by a multi-million-dollar industry ad campaign, has unnerved the public ahead of a general election expected to be held late this year, with opinion polls showing almost half voters against the new tax. But the industry’s campaign has begun to be undermined by a continued wave of investment into the sector since the tax was first unveiled on May 2. Even while campaigning against the tax, miners have announced project advancements or deals with foreign investors worth more than $10bn.
Far from being spooked by the new tax, due to apply from mid-2012, Chinese firms could see it as a chance to strengthen their grip on Australian raw materials, especially iron ore, by providing financing in return for long-term supply agreements. The China Development Bank agreed on Monday a $1.2bn loan facility for the $2bn Karara iron ore project in west Australia, which is being developed by Australia’s Gindalbie Metals Ltd and China’s Angang Steel Co. The bank also inked a preliminary deal to help fund projects for miner Aquila Resources, including its $3.45bn West Pilbara iron ore project, also in west Australia. Mr Rudd, who aims to use the mining tax to help fund his re-election platform this year, oversaw the signings along with Mr Xi, regarded as heir apparent to China’s President Hu Jintao.
Monday’s agreements also included an expanded partnership between Australia’s dominant phone company, Telstra Corp, and China’sZTE Corp, whereby Telstra would become preferred telecoms supplier to ZTE worldwide. In addition, Australian airline Qantas also announced on Monday an expanded code-sharing alliance with China Eastern Airlines.