News & Comments: 01/17/12

Tuesday, January 17, 2012

Egypt - Mubarak 'not a tyrant', defence lawyer tells trial

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Hosni Mubarak was a 'just man, not a tyrant', according to his lawyer.

The former Egyptian President was again wheeled into court on a hospital trolley for his latest appearance at his trial.

He listened to the defence argue there was no legal case against him.

Unlike previous occasions when cameras have been present, this was a closed session.

Mubarak is a man with clean hands and a pure heart, the lawyer said, claiming the case was only brought because of public pressure.

USA - Gallup Reports Improvement in Unemployment

Uploaded by FinancialNewsOnline on Jan 17, 2012

U.S. unemployment is 8.3% in mid-January -- a slight improvement from 8.5% in December -- as measured by Gallup. This is without seasonal adjustment. The 8.3% is down from 9.9% in January a year ago. Gallup's mid-month unemployment reading, which is based on the 30 days ending January 15, serves as a preliminary estimate of the U.S. report. Gallup suggests the Bureau of Labor Statistics will likely report on the first Friday of February that its seasonally adjusted unemployment rate declined once again in January.

Gallup also reports that the percentage of U.S. employees who are working part time but want full-time work is at 9.8% in mid-January, the same as in December. The mid-January reading is considerably higher than the 9.1% in January 2011.

Latin America - PepsiCo and Ocean Spray Cranberries Form Strategic Alliance

Uploaded by FinancialNewsOnline on Jan 17, 2012

PepsiCo (NYSE:PEP) and Ocean Spray Cranberries announced Tuesday they have formed a strategic alliance in Latin America. As part of the deal, PepsiCo will have exclusive rights to manufacture and distribute a portfolio of cranberry- and blueberry-based beverages through its Latin America Beverages division.

The companies will share marketing responsibilities for the products and intend to collaborate on product innovation.

President of PepsiCo's Latin America Beverages Division Luis Montoya said, "We see tremendous opportunities to grow our beverage business in emerging markets throughoutLatin America, and we continue to take steps to strengthen our brand portfolio through product innovation, marketing and strategic partnerships. Ocean Spray is already a great PepsiCo partner in the U.S., and we believe this will be a winning combination for Latin American consumers and customers. It positions us well to continue to gain share of the growing juice category."

PepsiCo (NYSE:PEP) has potential upside of 7.3% based on a current price of $64.98 and an average consensus analyst price target of $69.75.

USA - Burger King tests out delivery service at some stores in Virginia and Maryland

Uploaded by FinancialNewsOnline on Jan 17, 2012

The operator of 7,500 fast-food restaurants in the U.S. and Canada is trying out delivery service at some stores in Virginia and Maryland as a way to boost sales, according to a report by Bloomberg. Burger King Holdings Inc. is offering delivery service from 11 a.m. to 10 p.m. in select stores in those states. Burger King's website says deliveries cost $2.00 and there is a minimum order of $8.00 to $10.00, depending on the market. The report says that 3G Capital Inc., a New York-based private-equity firm, bought Burger King for about $3.93 billion in 2010. It goes on to say that revenue rose 1.4% to $608.1 million in the three months ending September 30, compared with the year before.

Spain - Raw Video: Riding Horses Over Fire in San Bartolome de Pinares

Published on Jan 17, 2012 by AssociatedPress

The streets of San Bartolome de Pinares, Spain are filled of smoke, the glow of burning wood and the clatter of horse shoes on its streets. Jockeys are riding their horses as near as they dare to a bonfire to mark the Feast of Saint Anthony. (Jan. 17)

Italy - Damning tape of cruise ship's captain Francesco Schettino

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ As the captain of the stricken Costa Concordia Francesco Schettino was appearing in court, and the death toll rose to 11, a recording emerged purporting to show heated radio exchanges between him and the harbour master.

The Italian newspaper Corriere della Sera published the tape saying it was made after Francesco Schettini had left the vessel.

In it the harbour master tells the captain to get back on board and coordinate the rescue from there.

Schettino says he is in a lifeboat.

Lianne La Havas "Gone" music video (Live at Slaughtered Lamb, London )

Uploaded by LoveLiveMusicUk on Jun 14, 2011

Band: Hamish Jackson and Matt Ingram
Recorded by Sally J Freeman - June 13th
Twitter: www.twitter.com/LoveLiveMusicUK
www.LianneLaHavas.com

Holland - Global financial court promises firm rulings

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ The world's first international tribunal for complex financial litigation has opened in the Netherlands, headquartered at the Peace Palace in The Hague.

National or local governments and private companies may bring cases before the dispute resolution facility, called PRIME Finance, short for Panel of Recognised International Market Experts in Finance. There are more than 80 of these specialised 'judges'.

euronews science: French sound alpine glacier alarm

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Around the globe, in all latitudes, at all altitudes, glaciers are receding and disappearing at a rapid pace. At a speed that often exceeds even the most alarmist previsions made a few years ago. This tendency has been recently confirmed by a study of the French Alps carried out by researchers of the University of Savoie, located near Chambery.

When we talk about melting glaciers and global warming we often think of faraway polar regions. But here we are in the heart of Europe, close to Mont Blanc, and the surface area of glaciers is shrinking remarkably.

Europe - Eurozone inflation dips

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Inflation in the eurozone fell more than previously expected in December.

Consumer prices in the 17 countries sharing the euro rose 2.7 percent compared with the same month a year earlier.

Not including volatile energy costs, inflation was 1.9 percent, and stripping out food and fuel it was 1.6 percent.

That should give the European Central Bank more room to cut interest rates as the region's economy heads for recession.

Carnival (NYSE:CCL) Sells Off 17% On Costa Concordia Disaster

Uploaded by FinancialNewsOnline on Jan 17, 2012

Shares of Carnival Corp. (NYSE:CCL) are off 17% in premarket trading after the company's deadly accident off of the Italian coast and news that it may have been caused by human error.

The catastrophe transpired during the peak of "wave season," during which time almost 33% of all cruise vacations are booked.

Making matters worse, the company's CEO and Chairman, Micky Arison, has opted to oversee the response to Carnival's worst accident from Miami, more than 5,000 miles away from the site.

Leaving damage control to his regional managers will not create a shining image for the company with the press after an accident that left 6 dead and another 29 missing.

Carnival Corporation Common Sto (CCL) -NYSE

29.50

4.78(13.96%) 11:31AM EST - Nasdaq Real Time Price

Take-Two Interactive (NASDAQ:TTWO) Sells Off On "Max Payne 3" Delay, Sees FY 2 (potential upside 23.4%)012 Loss

Uploaded by FinancialNewsOnline on Jan 17, 2012

Shares of Take-Two Interactive (NASDAQ:TTWO) are trading slightly lower premarket, down 3.4%, after the company said it plans to introduce Max Payne 3 in May, vs. its prior release date in March.

Take Two said it expects to turn in a net loss for FY 2012, with its net revenue coming in $210 million - $230 million lower this year.

The company sees FY 2013 adjusted EPS over $2, vs. consensus estimates of $2.59.

The firm's Q3 results are due out February 2nd.

Take-Two Interactive Software (NASDAQ:TTWO) has potential upside of 23.4% based on a current price of $14.50 and an average consensus analyst price target of $17.90.

Citigroup (NYSE:C) Misses Earnings Estimates For Q4 (potential upside 41.7%)

Uploaded by FinancialNewsOnline on Jan 17, 2012

Citigroup (NYSE:C) reported fourth quarter earnings before the bell Tuesday, posting an EPS of $0.38, missing consensus estimates of $0.49 per share. Revenues for the quarter came in at $17.2 billion missing analysts expectations of $18.54 billion.

Vikram Pandit, Citi's Chief Executive Officer, said, "Overall, we made solid progress in 2011. We increased our net income to $11.3 billion, up 6% from the previous year, and reached key benchmarks in our consumer businesses, showing our strategy is achieving results. Clearly, the macro environment has impacted the capital markets and we will continue to right-size our businesses to match the environment. With Citi Holdings assets at 12% after the transfer of retail partner cards to Citicorp, we are increasingly focused on driving earnings through our core franchise and beginning to return capital to our shareholders this year."

Citigroup (NYSE:C) has potential upside of 41.7% based on a current price of $30.74 and an average consensus analyst price target of $43.57.

What's In The News: January 17, 2012 AT&T (NYSE:T) Dish Network (NASDAQ:DISH) AIG (NYSE:AIG)

Uploaded by FinancialNewsOnline on Jan 17, 2012

This is what's in the news for Tuesday January 17, 2012. The Wall Street Journal reports the European car market in 2011 declined 1.4% to 13.6M vehicles, the fourth consecutive yearly decline, and the outlook for 2012 remains bleak. The Wall Street Journal also reports the average price of iron ore for 2012 is likely to drop from last year's all-time high, as the steel making industry grows at a slower pace. Steel Index, a London-based reference-price supplier, sees an average decline of $10-$15 a ton to about $150-$160 a ton. Bloomberg reports AT&T (NYSE:T) is under so much pressure to add wireless spectrum after its failed $39B bid for Deutsche Telekom's (PINK:DTEGY) T- Mobile USA that it may pay the highest premium in more than a decade to purchase Dish Network (NASDAQ:DISH). Reuters reports AIA Group, about one-third owned by AIG (NYSE:AIG), may bid for the $6B Asian insurance operations of ING Groep (NYSE:ING), sources say, with significant competition expected.

Alaska - Raw Video: Nome Fuel Transfer Begins at Nome

Published on Jan 17, 2012 by AssociatedPress

Crews have begun transferring 1.3 million gallons of fuel from a Russian fuel tanker to the iced-in western Alaska city of Nome. (Jan. 17)

Europe - EU parliament elects Germany's Martin Schulz President

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Germany's Martin Schulz has been elected as the new president of the European Parliament.

Widely tipped to win, the leader of the centre-left socialist group received 387 votes out of a possible 670.

A pre-existing deal between the chamber's two biggest parties meant Schulz's victory was all but certain.

Nevertheless, he failed to achieve a total landslide. Rival runners for the presidency, British MEPs Diana Wallis and Nirj Deva, enjoyed substantial support, taking just over 140 votes a piece.

China - economic growth weakens output growing by 8.9 per cent

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Growth in the world's second biggest economy, China, slowed to its weakest pace for two and a half years at the end of 2011.

In the fourth quarter, China's total economic output grew by 8.9 per cent. The figure for the year as a whole was 9.2 per cent.

They are still figures that stand head-and-shoulders above economic growth in the majority of the world, but analysts are warning that the Chinese slowdown has not stopped yet.

ABC World News Now: Webcast: Italy Cruise Ship Sinking; Wikipedia Goes Offline

Uploaded by ABCNews on Jan 17, 2012

today's top ABC News headlines: including why Wikipedia will be shutting off its website on January 18th.

Goldbug100 - Geely Automobile Holdings Ltd. (0175.HK) increased shareholding by 100%

at HK$ 2.03 bring the average purchase price down to HK$2.31

0175.HK 7:59AM 2.06 0.08 4.04%

Geely Automobile Holdings Ltd (0175.HK) Company Profile - Reuters

Google Finance

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article

Geely Automobile Holdings Ltd’s Emgrand EC7 family hatchback and saloon will be something of a first when it goes on sale in the UK. Geely, which is currently mid-way through a UK dealer recruitment programme targeting 40 dealers, appears to be trying to do what Hyundai and Kia have done in recent years and build a position quickly from scratch by offering “good quality, really good value for money and a long warranty.”

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Matthew Cheyne, market development director Geely Auto UK said: “Initially this year we are looking to appoint between 30 and 40 dealers to provide sales and service facilities in the UK, including Northern Ireland. More will be appointed in 2013 as the brand grows and more new models arrive.”

Uploaded by GeelyenChile on Jul 8, 2011

Romania - Anger in Bucharest after days of violence

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ In Bucharest, the clean-up has begun in earnest following violent protests against government spending cuts.

Marches have been held for four straight days, but the past two have been marred by clashes with police.

Residents want tough punishment for those who vandalised local businesses.

"My opinion is that everything started good and finished bad. Those hooligan gangs have come and done what we can see in the whole of Bucharest," said one woman.

Hungary - threatened with legal action

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ The Hungarian government of Prime Minister Viktor Orban faces possible legal action by the European Commission. It is due to several controversial changes to the country's constitution. The unpopular laws include allowing the prime minister to appoint a new central bank deputy governor but that may violate the EU treaty.

S and P downgrades downplayed

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ In the aftermath of the so-called 'Black Friday' mass downgrading of eurozone countries, politicians and economists were quick to play down the significance and impact of the move.

Indeed at an auction of short-term French government bonds on Monday the country's borrowing costs went down.

On Friday, France and Austria lost their AAA credit ratings from Standard and Poor's - slipping one notch to AA+.

ТИЗЕР - Глюк'oZa "Мой порок" / Teaser - Glyuk'oZa "My fault"

Uploaded by ello on Jan 16, 2012

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