Yahoo, Alibaba reach $7.1 billion deal


Yahoo, Alibaba reach $7.1 billion deal

By Kevin Voigt, CNN

May 21, 2012 — Updated 0329 GMT (1129 HKT)

Jack Ma, Chief Executive of the Alibaba Group, a press conference in Beijing in 2005.

Jack Ma, Chief Executive of the Alibaba Group, a press conference in Beijing in 2005.

Hong Kong (CNN) — Yahoo and China’s Alibaba Group have agreed to a $7.1 billion deal in which the Hangzhou-based internet behemoth buys back half of Yahoo’s 40% stake in the company.

The agreement will give a much-welcomed cash injection to Yahoo, which has lost 65% of its value since its 2006 peak and is smarting from the resume-padding scandal of ex-CEO Scott Thompson, the third chief executive to lead the beleaguered web portal in three years.

Yahoo’s 40% stake in Alibaba, purchased in 2005 for $1 billion, is widely considered the company’s greatest asset. But the relationship has been a fractious one, punctuated with public disagreements over company direction, as well as Yahoo siding with Google in its 2010 fight with Chinese regulators.

Alibaba CEO Jack Ma publicly said in September he might be interested in buying Yahoo. “This transaction opens a new chapter in our relationship with Yahoo,” Ma said in a news release Monday.

Alibaba is a leading e-commerce provider in China, the world’s largest internet market.

“Today’s agreement provides clarity for our shareholders on a substantial component of Yahoo!’s value and reaffirms the significance of our relationship with Alibaba,” said Ross Levinsohn, interim CEO of Yahoo, in a release on the deal.

Under the terms of the deal, Yahoo will get $6.3 billion in cash and up to $800 million in newly issued Alibaba preferred stock.

“We look forward to delivering the proceeds of the near-term transaction to our shareholders, and to the further enhancement of value and the additional monetization in the future that this agreement enables,” said Timothy R. Morse, chief financial officer of Yahoo.

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Yahoo, Alibaba reach $7.1 billion deal

Bee Gee Robin Gibb dies

Robin Gibb, one of three brothers who made up the disco group The Bee Gees, died Sunday, May 20. He was 62.Robin Gibb, one of three brothers who made up the disco group The Bee Gees, died Sunday, May 20. He was 62.

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(CNN) — Robin Gibb, one of three brothers who made up the group the Bee Gees behind “Saturday Night Fever” and other now-iconic sounds from the 1970s, died on Sunday, according to a statement on his website.

He was 62.

Gibb “passed away today following his long battle with cancer and intestinal surgery,” said the statement, which was attributed to his family. He died in England at 10:47 a.m. (5:47 a.m. ET), according to a post on his official Twitter feed.

News of his death set off a torrent of reaction in social media. Musician Bryan Adams, for instance, lamented “another great singer dying too young” on Twitter, while fellow British band Duran Duran and current pop sensation Bruno Mars were among many who posted their condolences.

“The Bee Gees were/are the gold standard when it comes to pop/r&b melody, harmony and vocal arrangement. Massive loss,” wrote prolific pop songwriter Claude Kelly on his Twitter feed.

Queen’s Brian May lauded Gibb and his “amazing voice, so distinctive and expressive” in a statement on his website.

“For me, the music of the Bee Gees really has peaks as high as any mountain ever climbed by a Pop/Rock group,” May said. “The Bee Gees will never be forgotten.”

Read what other celebrities said about Gibb on Twitter

Diagnosed with colon and liver cancer, Gibb had been in a coma as he battled pneumonia earlier this spring, representative Doug Wright said.

Doctors believe that Gibb had a secondary tumor, Wright said April 14, confirming a news account in the UK newspaper The Sun. Gibb had emergency surgery in 2010 for a blocked bowel and then had more surgery for a twisted bowel, Wright confirmed.

The only surviving member of the three Bee Gees is brother Barry, 65.

Robin’s twin brother, Maurice, died in 2003 from a twisted bowel. And younger brother Andy Gibb — who was not part of the group — died at 30 from a heart infection.

Robin Gibb’s death followed by just three days the loss of another major star of the 1970s disco era — Donna Summer, who died Thursday of lung cancer at 63.

“First Donna Summer passes and now another 70s icon, Robin Gibb of the Bee Gees passes,” actress Marlee Matlin tweeted Sunday.

Robin Gibb was born in 1949 on Isle of Man off the British coast, and the Gibb boys grew up in Manchester. The family later moved to Redcliffe, Australia, where their group performed on television as the B.G.’s — a moniker they later altered to the Bee Gees. Their father, Hughie, was a drummer and big-band leader.

The family returned to England in the 1960s, and they began to emerge on an international scale. Through the end of that decade and into the next, they crafted melodies that utilized their unique voices to gain acclaim thanks to songs like “To Love Somebody,” “Lonely Days” and “How Can You Mend a Broken Heart.”

By the mid-1970s, they transitioned to develop more dance-oriented hits such as “Jive Talkin’ ” and “Nights on Broadway.”

Yet for all these earlier successes, the Bee Gees skyrocketed to new heights with the 1977 release of “Saturday Night Fever,” a movie starring John Travolta that was built around the group’s falsetto voices and disco-friendly songs.

In the latter part of the 1970s, the Bee Gees “dominated dance floors and airwaves. With their matching white suits, soaring high harmonies and polished, radio-friendly records, they remain one of the essential touchstones to that ultra-commercial era,” the Rock and Roll Hall of Fame says on its website.

“Saturday Night Fever” and the group’s 1979 album “Spirits Having Flown” yielded six No. 1 hits, “making the Bee Gees the only group in pop history to write, produce and record that many consecutive chart-topping singles,” according to the Hall of Fame.

While often more in the background, Robin Gibb was the lead singer on several of the Bee Gees’ top tunes including “I Started a Joke” and “I’ve Gotta Get a Message to You.” He also recorded several solo albums during his career.

Inducted into the Rock and Roll Hall of Fame in 1997, the Bee Gees sold more than 200 million albums, and their soundtrack album to “Saturday Night Fever” was the top-selling album until Michael Jackson’s “Thriller” claimed that distinction in the 1980s.

In a 2008 interview with Music Week, Robin Gibb shared one of his all-important rules for songwriting: “always keep a tape running,” in order to capture a moment of brilliance and inspiration.

“You never know in a three-hour writing session when you are going to come up with something and then if you’ll remember it completely,” he said. “All the ideas, everything, will be on tape and then you can always refer back at any time.

“Melodies will be born for the first time during writing and unless you have it on tape you haven’t got any way of remembering them. That is a cardinal rule.”

He also spoke of how he found it “good to have deadlines and pressure.”

“We certainly had a deadline with ‘Fever’ to write all those songs. I think, in one week, we wrote ‘How Deep Is Your Love,’ ‘Night Fever,’ ‘Stayin’ Alive,’ ‘If I Can’t Have You’ and the rest. Having a deadline sharpens you up, it gets you out of bed and it stops you going to bed, too,” Gibb said.

Gibb is survived by his wife, Dwina; his daughter, Melissa, and sons Spencer and Robin-John.

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Bee Gee Robin Gibb dies

Oil & Gas iQ und IACCM präsentieren Lehrgang über Vertragsentwurf und Risikomanagement für Öl & Gas 2.0

London (ots/PRNewswire) – Whrend l- und Gasunternehmen neue internationale Mrkte in einem rechtlichen Umfeld betreten, das von Macondo geprgt ist, kommt es mehr denn je darauf an dafr zu sorgen, dass Vertrge sorgfltig ausgearbeitet, frei von Risiken und vorteilhaft sind. Rechtsfachleute sehen sich unzhligen komplexen Risiken und Herausforderungen gegenber. Es ist wichtig, dass sie ihre Unternehmen schtzen, whrend sie sich auf einem in stetigem Wandel begriffenen Gebiet bewegen.

Vor diesem Hintergrund fhrte Oil und Gas iQ Anfang 2012 eine Branchenumfrage durch und gewann die in der l- und Gasbranche ttigen Rechtsberater fr eine Untersuchung ber aktuelle Herausforderungen, Interessensschwerpunkte sowie Anforderungen an Schulung und Entwicklung.

Auf Grundlage der Umfrageergebnisse entwickelte Oil und Gas iQ den Lehrgang Contract Drafting and Risk Management Training for Oil & Gas 2.0. [http://www.contractrisktraining.com/press ] (Vertragsentwurfs- und Risikomanagement-Training fr l und Gas 2.0) und lud Jim Bergman, Vizeprsident fr Schulung bei IACCM, dazu ein, diesen Lehrgang zu leiten. Bestandteile des Lehrgangs sind Prsentationen, einzigartige Analysen und kritische Einblicke in Themen wie:

        - Risiken nach Macondoera verhandeln, und zwar durch eine Analyse der
          nachfolgenden Vorgnge
        - Wertmaximierung durch Bohr- und Bohrturm-Servicevertrge
        - Ausschpfung grsserer Vertragsmglichkeiten durch Mehrparteien-Projekte
          und Joint Ventures
        - Integration hervorragender Vertragspraktiken in Ihre Service- und
          Ausrstungsvertrge
        - Schaffung finanzieller Vorteile fr Ihr Unternehmen durch finanzielle
          Bedingungen und Vergtungsmodelle
        - Effizienter Umgang mit Projektverzgerungen und Schadensfllen durch
          wirksame Vertrge
        - Verwaltung und Minderung von Risiken durch Prfung der Haftungsbeschrnkung,
          gegenseitigen Regressverzicht und Kndigungsklauseln
        - Risiken im Zusammenhang mit FEED-, EPC-, EPCIC- und EPCICM-Vertrgen
          begreifen
        - Sicherstellen, dass Ihr Unternehmen die Bestimmungen ber lokalen Anteil,
          Arbeitsschutz und Umweltbelastung erfllt 

Fr weitere Informationen ber den Lehrgang und den Dozenten, laden Sie bitte hier das Lehrgangsprogramm [http://www.contractriskt raining.com/Event.aspx?id=747652&utm_campaign=PRNews&utm_medium=web&u tm_source=PRNews&utm_content=Agenda&MAC=20386.003PR ] herunter. Alternativ besuchen Sie bitte http://www.contractrisktraining.com/press oder senden Sie eine E-Mail an enquire@iqpc.co.uk.

ber IQPC

IQPC bietet den Fhrungskrften auf der ganzen Welt massgeschneiderte praktische Konferenzen, gross angelegte Events, Themenseminare und interne Schulungsprogramme an, um sie ber Branchentrends, technologische Entwicklungen und rechtliche Vorschriften auf dem Laufenden zu halten. IQPC veranstaltet weltweit jhrlich mehr als 1.500 Events und wchst weiter. IQPC bedient sich globaler Forschungsergebnisse ber bewhrte Praktiken zur Schaffung eines konkurrenzlosen Portfolios von Konferenzen. http://www.iqpc.com.

Pressekontakt:

Pressekontakt: JJ Xue Han, +44(0)20-7368-9300,
jj.xuehan@iqpc.co.uk. Die Presse ist zum Besuch dieses wichtigen
Branchenforums eingeladen. Fr einen kostenlosen Presseausweis wenden
Sie
sich bitte per E-Mail an: JJ Xue Han at jj.xuehan@iqpc.co.uk. 

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Oil & Gas iQ und IACCM präsentieren Lehrgang über Vertragsentwurf und Risikomanagement für Öl & Gas 2.0

ots.Audio: Alles im Kasten? Das gehört in Ihren Auto-Verbandkasten!

Baierbrunn (ots) – Einen Verbandkasten hat wohl jeder Autofahrer an Bord. Erstens ist es Vorschrift und zweitens kann der kleine Kasten im Notfall Leben retten. Doch wo sich der Verbandkasten im Auto befindet, wissen viele Autofahrer gar nicht, wie eine Umfrage im Auftrag der “Apotheken Umschau” ergab. Chefredakteur Peter Kanzler:

O-Ton 16 sec.

“Die Zahlen stimmen in der Tat nachdenklich. Jeder siebte Autofahrer, so eine aktuelle Umfrage der Apotheken Umschau, wei nicht genau, wo sich im Wagen der Verbandkasten befindet. Das kann im Ernstfall sehr fatal sein und was viele nicht wissen: bei Verkehrskontrollen wird oft nach dem Verbandkasten gefragt.”

Und wer den Polizeibeamten dann keinen vollstndigen Verbandkasten prsentieren kann, muss mit einem Bugeld rechnen. Fr den Inhalt des Kastens gibt es genaue Vorschriften:

O-Ton 18 sec.

“Das wird durch eine DIN-Norm geregelt. Enthalten sein mssen unter anderem Pflaster, diverse Verbnde, Kompressen, Binden, eine Rettungsdecke, eine Schere und Einweghandschuhe. Und jeder Verbandkasten muss ber ein Inhaltsverzeichnis verfgen, da knnen Sie auch nachlesen, ob alle Elemente enthalten sind.”

Empfehlenswert ist es, den Verbandkasten regelmig zu berprfen. Denn manche Inhalte sind nur fr eine begrenzte Zeit verwendbar:

O-Ton 12 sec.

“Die sterilen Inhalte haben ein Verfallsdatum. Danach mssen sie ausgetauscht werden. Gleiches gilt fr Verbandsstoffe, die mit der Zeit nicht mehr elastisch sind oder Pflaster, die nicht mehr kleben. Lassen Sie sich in der Apotheke beraten.”

Wie der Verbandkasten aussieht, spielt laut “Apotheken Umschau” keine Rolle. Es kann eine Plastikkiste sein oder ein Kissen – Hauptsache, der Inhalt stimmt und er ist im Notfall schnell zur Hand.

ACHTUNG REDAKTIONEN: 

Das Tonmaterial ist honorarfrei zur Verwendung. Sendemitschnitt bitte
an ots.audio@newsaktuell.de. 

Pressekontakt:

Ruth Pirhalla
Tel. 089 / 744 33 123
Fax 089 / 744 33 459
E-Mail: pirhalla@wortundbildverlag.de
www.wortundbildverlag.de
www.apotheken-umschau.de 

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ots.Audio: Alles im Kasten? Das gehört in Ihren Auto-Verbandkasten!

Arrests, tussles as police clash with NATO protesters

Protesters rally in Chicago on Sunday, May 20, the first day of the NATO summit. A week of demonstrations led up to the two-day meeting, which brought together the leaders of more than 50 nations.Protesters rally in Chicago on Sunday, May 20, the first day of the NATO summit. A week of demonstrations led up to the two-day meeting, which brought together the leaders of more than 50 nations.

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Chicago (CNN) — Protesters and police clashed outside the NATO summit in Chicago, where world leaders met to discuss the way forward in Afghanistan.

Police hit protesters with batons as they pushed against a line of officers, video from CNN affiliate WLS showed. The clashes came toward the end of a day of peaceful protests.

At least 45 people were arrested Sunday and four officers were taken to the hospital with injuries, said Chicago Police Superintendent Garry McCarthy. One officer had been stabbed in the leg, he said.

“They rallied. They charged the cops and they assaulted the officers,” McCarthy said. “The finger should be pointed at the people who assaulted the cops.”

Occupy Chicago, one of the groups that helped organize the demonstrations, similarly reported that some people were injured.

“The police have several demonstrators detained behind their lines, calling for medics. Bloodied protesters being dragged out of sight now,” the group wrote on its Twitter page earlier in the day.

A city official, who was not authorized to talk to the media on police matters, told CNN that between 75-100 protesters had refused to leave the area after being told to disperse.

They threw bottles and other objects at police, the official said.

“Quite frankly, I think it’s been an incredibly successful event in spite of some of these issues,” said McCarthy, who offered high praise for his officers. “We’re not here to get battered.”

He accused some protesters of splashing red paint on themselves to make it look like they had been wounded.

The clashes took place just blocks from the NATO summit. Inside that meeting, U.S. President Barack Obama met with Afghan President Hamid Karzai and hosted other world leaders. He stressed that more work must be done before NATO troops pull out of Afghanistan.

“There will be great challenges ahead. The loss of life continues in Afghanistan. There will be hard days,” Obama said at the summit. “But we are confident we are on the right track and (what) this NATO summit reflects is that the world is behind the strategy we’ve laid out. Now it’s our task to implement it effectively and I believe we can do so in part because of the tremendous strength and resilience of the Afghan people.”

Obama and other world leaders were expected to draw up a road map out of the war in Afghanistan. The summit comes at a key time for NATO countries, who are trying to figure out how to meet a 2014 deadline to withdraw from an unpopular war in Afghanistan while shoring up that nation’s security forces.

“There will be no rush for the exits. We will stay committed to our operations in Afghanistan and see it through to a successful end. Our goal, our strategy, our timetable remains unchanged,” NATO Secretary General Anders Fogh Rasmussen said Sunday.

“Once the Afghans have full responsibility by the end of 2014, our combat mission will come to an end. But we will not walk away,” he added later in the day.

Also Sunday, NATO leaders inked a deal to acquire five unarmed drones as part of “smart defense,” a term used to describe efforts to do more with less at a time when many nations’ defense budgets are being slashed, Rasmussen said. More than a dozen countries will help to buy the drones.

“NATO in itself is smart defense because it is about helping each other instead of re-nationalizing defense,” said the secretary general.

Security was tight at the summit following Saturday’s arrest of three men, described by authorities as anarchists who plotted to attack Obama’s Chicago campaign headquarters and lob Molotov cocktails at police during the summit.

Two other men, not believed to be part of the alleged plot, appeared in court Sunday to face charges from “related investigations,” authorities said.

Police insist there were no imminent threats to the leaders of more than 50 nations gathering at the summit.

The leaders are expected to formally adopt a timetable to transition security from the NATO-led International Security Assistance Force to Afghan forces, senior administration officials told CNN.

Why ordinary Afghans worry about NATO summit

There is heightened security for the upcoming NATO summit in Chicago, Illinois. Officials estimated over 500 demonstrators came out to protest on Saturday.

There is heightened security for the upcoming NATO summit in Chicago, Illinois. Officials estimated over 500 demonstrators came out to protest on Saturday.

The officials, speaking on condition of anonymity as a matter of practice, said the plan will also lay out NATO’s training and advisory role after 2014.

A small contingent of British forces could remain after NATO forces leave in 2014, a senior British official said. A senior U.S. official said the United Kingdom may keep some troops in Afghanistan post-2014 f
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or counter-terrorism purposes. Both officials requested anonymity because they were not authorized to speak to the media.

One of the key issues to be considered by the NATO leaders is who will pay for the buildup of Afghan forces as ISAF draws down its troops. Afghan security forces are expected to total 350,000 by 2015, according to CNN National Security Analyst Peter Bergen.

Afghan President Karzai, who is attending the summit along with Pakistani President Asif Ali Zardari, can only afford to cover a fraction of the cost of building up his country’s forces. The cost of building up forces is expected to total roughly $4 billion annually by 2014, Bergen said.

Rasmussen said Sunday that he was optimistic that other countries will contribute.

“At the end of the day, it is less expensive to finance the Afghan security forces to do the combat than to deploy our own troops,” he told CNN’s “State of the Union.”

A user’s guide to the Chicago NATO summit

As expected, France’s new president, Francois Hollande, announced the withdrawal of French combat troops from Afghanistan by year’s end. As part of ISAF, French trainers will remain.

A Taliban spokesman said Sunday that Hollande’s declaration “is a decision based on realities and a reflection of the opinion of (his) nation.”

“We call upon all the other NATO member countries to avoid working for the political interests of American officials and answer the call of your own people by immediately removing all your troops from Afghanistan,” Taliban spokesman Zabiullah Mujahid said in a statement, describing what he said was the “savagery” of troops in Afghanistan.

“The invasion of Afghanistan by America and its allies under the banner of ‘war of terror’ was an unjustified and tyrannical action which was only carried out for political and economical gains,” he said.

Also at issue at the NATO summit is Islamabad’s continued blockade of much-needed NATO supplies shipped over Pakistani roads to Afghanistan.

Pakistan closed the ground routes after a NATO airstrike in November killed two dozen of its soldiers. NATO insists the incident was an accident.

The United States and Pakistan have not come to an agreement on the price of opening the supply lines, according to senior administration officials.

U.S. Secretary of State Hillary Clinton met Sunday with Pakistani President Zardari to discuss the lines, reconciliation and Pakistani commitments to go after extremists, the officials said.

Without a deal, officials said Obama would not meet with Zardari at the summit. The two were scheduled to hold trilateral talks with Karzai on political reconciliation in Afghanistan. Pakistan’s support in reaching a deal with the Taliban is seen as critical in ending the war in Afghanistan.

U.S. Republican presidential frontrunner Mitt Romney was not at the summit, but he weighed in Sunday with an op-ed piece in the Chicago Tribune, arguing that many NATO countries have not contributed enough to the alliance. The Obama administration’s defense budget cuts have further fueled the problem, he said.

“The administration’s irresponsible defense cuts are clearing the way for
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our partners to do even less,” Romney wrote. “An alliance not undergirded by military strength and U.S. leadership may soon become an alliance in name only.”

CNN’s Jessica Yellin, Jim Spellman, Ted Rowlands, Paul Vercammon, Bill Kirkos, Katherine Wojtecki, Greg Morrison and Chelsea J. Carter contributed to this report.

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Arrests, tussles as police clash with NATO protesters

EU summit to raise pressure on Merkel


EU summit to raise pressure on Merkel

By Peter Spiegel and Patrick Jenkins, FT.com

May 21, 2012 — Updated 0058 GMT (0858 HKT)

German Chancellor Angela Merkel is expected to face growing pressure at an informal eurozone summit this week.

German Chancellor Angela Merkel is expected to face growing pressure at an informal eurozone summit this week.

(Financial Times) — European leaders are drawing up a series of crisis-fighting proposals to raise at an informal EU summit this week that have in the past been rejected by Germany putting further pressure on Chancellor Angela Merkel.

The proposals, which could include empowering the eurozone’s €500bn rescue fund to directly recapitalise faltering European banks and commonly backed eurozone bonds, have been backed by some leaders in the past but forced off the agenda by the German chancellor’s objections.

The discussions have gained urgency amid signs of stress in parts of the banking system that some analysts have likened to a slow motion bank run.

Their resurrection is the latest sign François Hollande’s election in France has shifted the terms of the eurozone crisis debate, giving advocates of such measures — who include José Manuel Barroso, president of the European Commission, and Mario Monti, Italian prime minister — a powerful new ally.

It also reflects the growing belief among some leaders that instability in Greece necessitates revisiting the crisis procedures to ensure they are sufficient to deal with a Greek eurozone exit.

“If we let Greece go down, the ring fence for the rest of the eurozone will [have to] be much more solid,” said one senior politician involved in the deliberations.

European officials cautioned that Wednesday’s summit would focus on proposals to spur growth rather than crisis-response measures. But one senior European official said the Greek crisis has spurred “parallel” discussions, particularly on ways to shore up Europe’s banking sector.

Senior officials said those talks have focused on using the €500bn European Stability Mechanism to directly inject capital into banks, discussions that have intensified in the run-up to the summit. Mr Hollande also said after the weekend’s Group of Eight summit he had backing from other leaders to raise the eurozone bond issue.

Another controversial measure back on the public agenda is unlimited purchases of Spanish and Italian sovereign bonds by the European Central Bank, a proposal opposed by Germany but advocated by the Polish finance minister in an article published in Monday’s Financial Times.

“Europe must escape the devil’s alternative of not being able to keep Greece in the euro, and not being able to risk it leaving,” writes Jacek Rostowski. “We need the ECB’s readiness to intervene massively in sovereign bond markets only in the case of a country actually leaving the euro.”

Officials said while eurozone bonds remain controversial, the bank bailout scheme appeared to be gaining traction, even though Germany has blocked it in the past. “We lost the battle last time around and I’m not sure there’s been enough movement in the member states, particularly one member state,” said one advocate involved in negotiations.

Currently, EU rescue funds intended for banks can only be lent to national governments, who then recapitalise weak banks based in their country. Such lending adds to a nation’s sovereign debt, however, essentially solving one problem but creating another.

The issue has gained new urgency in Spain, facing renewed concerns over the cost of supporting its banks, given the extent of the property crash there. Some analysts estimate the sector needs €50bn-€100bn of fresh capital to allow banks to recognise latent losses on property loans, money that may be hard to raise without EU aid.

© The Financial Times Limited 2012

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A woman casts her vote for Greece's general elections in Athens on May 6, 2012.

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jurre hermans

Eleven-year-old Jurre Hermans entered a pizza-based plan for saving the Eurozone into the Wolfson Economics Prize.

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Samsung fears shrinking China demand


Samsung fears shrinking China demand

By Robin Kwong, FT.com

May 21, 2012 — Updated 0012 GMT (0812 HKT)

Models hold the new Samsung Galaxy Nexus Android phone during its official launch in Hong Kong on October 19, 2011.

Models hold the new Samsung Galaxy Nexus Android phone during its official launch in Hong Kong on October 19, 2011.

(Financial Times) — Samsung has admitted to concerns over “worrying” weakness in Chinese consumer spending as customer sentiment, damped by government austerity measures, turns against spending on technology products.

Kim Young-ha, chief executive of Samsung Electronics China, said the overall market for technology goods in China will probably grow by only about 7 per cent this year, down from 10 per cent in 2011. He pointed to disappointing sales of televisions during the “Golden Week” holiday at the beginning of May — traditionally a strong sales period — as evidence of lacklustre demand.

A Chinese slowdown would have grave implications for a global economy already hit by the eurozone crisis.

The comments highlight anxiety about one of the key growth engines in the world’s second-biggest economy: consumer demand. “It is a concern. The situation is not ideal,” said Mr Kim.

His comments come amid signs of slowing growth in China, home to the world’s biggest internet, smartphone and flat-panel TV markets. It has been seeking to reorient its economy towards domestic consumption, but a survey of consumer confidence published by Nielsen last week indicated cooling towards discretionary spending. Official statistics show that retail sales growth slowed to 14.1 per cent in April, the lowest in more than a year.

Mr Kim is well placed to assess the strength of Chinese consumer spending because of the broad array of electronic goods sold by the world’s biggest technology company by sales.

The end of stimulus measures that Beijing introduced to counter the global financial crisis, including rebates to encourage rural purchases of appliances and electronics, has led to weaker demand, “but a bigger impact comes from lowered consumer sentiment. The Chinese government has been implementing austerity measures targeted at the real estate market and that has had an impact [on spending],” he said.

China is Samsung’s third biggest market after Europe and the US — accounting for $9.6bn, or 9 per cent, of brand revenues last year — and a big battleground in its contest with Apple . Despite weaker consumer spending this year, Mr Kim said he was confident Samsung would still achieve 30 to 40 per cent revenue growth there.

Analysts say Samsung’s growth targets are aggressive, but achievable. There is still “no other [big] market that is growing faster than China,” Chin Sung-hye, analyst at Hyundai Securities, said.

Additional reporting by Song Jung-a in Seoul

© The Financial Times Limited 2012

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Mitteldeutsche Zeitung: Linkspartei Parteivize Bierbaum will Reformflügel in Parteispitze einbinden

Mitteldeutsche Zeitung: Linkspartei
Parteivize Bierbaum will Reformflgel in Parteispitze einbinden

Halle (ots) – Der stellvertretende Vorsitzende der Linkspartei und Vertraute Oskar Lafontaines, Heinz Bierbaum, will den Reformflgel um Dietmar Bartsch in die knftige Parteifhrung einbinden. “Wir mssen noch vor dem Parteitag zu einer integrativen Lsung kommen”, sagte er der in Halle erscheinenden “Mitteldeutschen Zeitung” (Montag-Ausgabe). “Und die Krfte, fr die Bartsch steht, mssen eingebunden werden – auch personell.” Dabei solle man sich aber “nicht endgltig auf Namen festlegen”. Bierbaum zeigte sich “sicher, dass es zu keiner Spaltung der Partei kommt. Denn alle wissen, dass wir dann keine Chance haben – weder in Ost noch in West.”

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Parteivize Bierbaum will Reformflügel in Parteispitze einbinden

Bee Gee Robin Gibb dies after cancer battle

Robin Gibb, one of three brothers who made up the disco group The Bee Gees, died Sunday, May 20. He was 62.Robin Gibb, one of three brothers who made up the disco group The Bee Gees, died Sunday, May 20. He was 62.

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(CNN) — Robin Gibb, one of three brothers who made up the disco group the Bee Gees behind “Saturday Night Fever” and other hits from the 1970s, died on Sunday, according to a statement on his website.

He was 62.

Gibb “passed away today following his long battle with cancer and intestinal surgery,” said the statement, which was attributed to his family. He died in England at 10:47 a.m. (5:47 a.m. ET), according to a post on his official Twitter feed.

Diagnosed with colon and liver cancer, Gibbs had been in a coma as he battled pneumonia earlier this spring, representative Doug Wright said.

Doctors believe that Gibb had a secondary tumor, Wright said April 14, confirming a news account in the U.K. newspaper The Sun. Gibb had emergency surgery in 2010 for a blocked bowel and then had more surgery for a twisted bowel, Wright confirmed.

The only surviving member of the three Bee Gees is brother Barry, 65.

Robin’s twin brother, Maurice, died in 2003 from a twisted bowel.

And younger brother Andy Gibb died at age 30 from a heart infection.

The Brothers Gibb — calling themselves the Bee Gees — soared to renown after the 1977 film “Saturday Night Fever” starring John Travolta was built around the group’s falsetto voices and disco songs.

In the latter part of the 1970s, the British-born Bee Gees “dominated dance floors and airwaves. With their matching white suits, soaring high harmonies and polished, radio-friendly records, they remain one of the essential touchstones to that ultra-commercial era,” the Rock and Roll Hall of Fame says on its website.

“Saturday Night Fever” and the group’s 1979 album “Spirits Having Flown” yielded six No. 1 hits, “making the Bee Gees the only group in pop history to write, produce and record that many consecutive chart-topping singles,” according to the Hall of Fame.

While often more in the background, Robin Gibb was the lead singer on several of the Bee Gees’ top tunes including “I Started a Joke” and “I’ve Gotta Get a Message to You.” He also recorded several solo albums during his career.

Inducted into the Rock and Roll Hall of Fame in 1997, the Bee Gees sold more than 200 million albums, and their soundtrack album to “Saturday Night Fever” was the top-selling album until Michael Jackson’s “Thriller” claimed that distinction in the 1980s.

Robin Gibb was born in 1949 on Isle of Man off the British coast, and the Gibb boys grew up in Manchester. They later moved to Redcliffe, Australia, where their group performed on television as the B.G.’s — a moniker they later altered to the Bee Gees. Their father, Hughie, was a drummer and big-band leader.

The family returned to England in the 1960s.

In a 2008 interview with Music Week, Robin Gibb shared one of his all-important rules for songwriting: “always keep a tape running,” in order to capture a moment of brilliance and inspiration.

“You never know in a three-hour writing session when you are going to come up with something and then if you’ll remember it completely,” he said. “All the ideas, everything, will be on tape and then you can always refer back at any time.

“Melodies will be born for the first time during writing and unless you have it on tape you haven’t got any way of remembering them. That is a cardinal rule.”

He also spoke of how he found it “good to have deadlines and pressure.”

“We certainly had a deadline with ‘Fever’ to write all those songs. I think, in one week, we wrote ‘How Deep Is Your Love,’ ‘Night Fever,’ ‘Stayin’ Alive,’ ‘If I Can’t Have You’ and the rest. Having a deadline sharpens you up, it gets you out of bed and it stops you going to bed, too,” Gibb said.

Gibb is survived by his wife, Dwina; his daughter, Melissa, and sons Spencer and Robin-John.

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Bee Gee Robin Gibb dies after cancer battle

Police, protesters clash at NATO summit

Protesters rally in Chicago on Sunday, May 20, the first day of the NATO summit. A week of demonstrations led up to the two-day meeting, which brought together the leaders of more than 50 nations.Protesters rally in Chicago on Sunday, May 20, the first day of the NATO summit. A week of demonstrations led up to the two-day meeting, which brought together the leaders of more than 50 nations.

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Chicago (CNN) — Protesters and police clashed Sunday outside the NATO summit in Chicago, where world leaders met to discuss the way forward in Afghanistan.

Police hit protesters with batons as they pushed against a line of officers, video from CNN affiliate WLS showed. The clashes came toward the end of a day of peaceful protests.

Occupy Chicago, one of the groups that helped to organize the demonstrations, reported some people were injured.

“The police have several demonstrators detained behind their lines, calling for medics. Bloodied protesters being dragged out of sight now,” the group wrote on its Twitter page.

An official with the city, who was not authorized to talk to the media, told CNN that between 50-75 protesters had refused to leave the area and had thrown objects at police. Individuals identified as aggressors were “extracted,” the official said.

As violence raged outside, inside the NATO meeting U.S. President Barack Obama met with Afghan President Ham
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id Karzai and hosted other world leaders. He stressed that more work must be done before NATO troops pull out of Afghanistan.

“There will be great challenges ahead. The loss of life continues in Afghanistan. There will be hard days,” Obama said at the NATO summit. “But we are confident we are on the right track and (what) this NATO summit reflects is that the world is behind the strategy we’ve laid out. Now it’s our task to implement it effectively and I believe we can do so in part because of the tremendous strength and resilience of the Afghan people.”

Obama and other world leaders were expected to draw up a road map out of the war in Afghanistan. The summit comes at a key time for NATO countries, who are trying to figure out how to meet a 2014 deadline to withdraw from an unpopular war in Afghanistan while shoring up that nation’s security forces.

“There will be no rush for the exits. We will stay committed to our operations in Afghanistan and see it through to a successful end. Our goal, our strategy, our timetable remains unchanged,” NATO Secretary General Anders Fogh Rasmussen said Sunday.

Security was tight at the summit following Saturday’s arrest of three men, described by authorities as anarchists who plotted to attack Obama’s Chicago campaign headquarters and lob Molotov cocktails at police during the summit.

Two other men, not believed to be part of the alleged plot, appeared in court Sunday to face charges from “related investigations,” authorities said.

Sebastian Senakiewicz, 24, of Chicago, is charged with falsely making a terrorist threat, prosecutors said in a statement. Mark Neiweem, 28, also believed to be from Chicago, is charged with attempted possession of explosives or incendiary devices. Bond was set at $750,000 for Senakiewicz and $500,000 for Neiweem.

“While the cases that were charged in court today arose from related investigations, the two defendants are not charged with any involvement in the terrorist case from yesterday, and today’s cases are separate matters. The two defendants … each face their own charges arising from separate incidents,” prosecutors said.

Police insist there were no imminent threats to the leaders of more than 50 nations gathering at the summit.

The leaders are expected to formally adopt a timetable to transition security from the NATO-led International Security Assistance Force to Afghan forces, senior administration officials told CNN.

Why ordinary Afghans worry about NATO summit

There is heightened security for the upcoming NATO summit in Chicago, Illinois. Officials estimated over 500 demonstrators came out to protest on Saturday.

There is heightened security for the upcoming NATO summit in Chicago, Illinois. Officials estimated over 500 demonstrators came out to protest on Saturday.

The officials, speaking on condition of anonymity as a matter of practice, said the plan will also lay out NATO’s training and advisory role after 2014.

A small contingent of British forces could remain after NATO forces leave in 2014, a senior British official said. A senior U.S. official said the United Kingdom may keep some troops in Afghanistan post-2014 for counter-terrorism purposes. Both officials requested anonymity because they were not authorized to speak to the media.

One of the key issues to be considered by the NATO leaders is who will pay for the buildup of Afghan forces as ISAF draws down its troops. Afghan security forces are expected to total 350,000 by 2015, according to CNN National Security Analyst Peter Bergen.

Afghan President Karzai, who is attending the summit along with Pakistani President Asif Ali Zardari, can only afford to cover a fraction of the cost of building up his country’s forces. The cost of building up forces is expected to total roughly $4 billion annually by 2014, Bergen said.

Rasmussen said Sunday that he was optimistic that other countr
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ies will contribute.

“At the end of the day, it is less expensive to finance the Afghan security forces to do the combat than to deploy our own troops,” he told CNN’s “State of the Union.”

A user’s guide to the Chicago NATO summit

France’s new president, Francois Hollande, is widely expected to announce the withdrawal of French troops from Afghanistan by year’s end.

A Taliban spokesman said Sunday that Hollande’s declaration “is a decision based on realities and a reflection of the opinion of (his) nation.”

“We call upon all the other NATO member countries to avoid working for the political interests of American officials and answer the call of your own people by immediately removing all your troops from Afghanistan,” Taliban spokesman Zabiullah Mujahid said in a statement, describing what he said was the “savagery” of troops in Afghanistan.

“The invasion of Afghanistan by America and its allies under the banner of ‘war of terror’ was an unjustified and tyrannical action which was only carried out for political and economical gains,” he said.

Two senior U.S. officials said NATO leaders would agree Sunday to purchase shared surveillance drones as part of “smart defense,” a term used to describe efforts to do more with less at a time when many nations’ defense budgets are being slashed. Thirteen countries will buy the drones, while other NATO members will help with logistics and data analysis, the officials said.

Also at issue at the NATO summit is Islamabad’s continued blockade of much-needed NATO supplies shipped over Pakistani roads to Afghanistan.

Pakistan closed the ground routes after a NATO airstrike in November killed two dozen of its soldiers. NATO insists the incident was an accident.

The United States and Pakistan have not come to an agreement on the price of opening the supply lines, according to senior administration officials.

U.S. Secretary of State Hillary Clinton met Sunday with Pakistani President Zardari to discuss the lines, reconciliation and Pakistani commitments to go after extremists, the officials said.

Without a deal, officials said Obama would not meet with Zardari at the summit. The two are scheduled to hold trilateral talks with Karzai on political reconciliation in Afghanistan. Pakistan’s support in reaching a deal with the Taliban is seen as critical in ending the war in Afghanistan.

Still, a U.S. official said he was confident a deal would eventaully be reached.

“We believe we are moving in the right trajectory and that we can accomplish what is a shared objective with the Pakistanis, opening the resupply lines,” said Deputy National Security Adviser Ben Rhodes.

U.S. Republican presidential frontrunner Mitt Romney was not at the summit, but he weighed in Sunday with an op-ed piece in the Chicago Tribune, arguing that many NATO countries have not contributed enough to the alliance. The Obama administration’s defense budget cuts have further fueled the problem, he said.

“The administration’s irresponsible defense cuts are clearing the way for our partners to do even less,” Romney wrote. “An alliance not undergirded by military strength and U.S. leadership
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may soon become an alliance in name only.”

CNN’s Jessica Yellin, Jim Spellman, Ted Rowlands, Paul Vercammon, Bill Kirkos, Katherine Wojtecki, Greg Morrison and Chelsea J. Carter contributed to this report.

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Police, protesters clash at NATO summit