LOAN SHARK (HUTRESS)

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.

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.

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?

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.

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.

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.

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...

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.

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.

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

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

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.

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.

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".