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Martes, Hulyo 10, 2012
South Wales Evening Post commented Challenging times ahead for Swansea bars as nightlife hub evolves
BAR owners in Swansea's Wind Street are having to adapt their businesses to survive.
Sen Dantong, Hon Fulani didn?t die from gunshot ?STF
Commander of the Task Force, Major General Henry Ayoola who held a briefing around midnight of Sunday, said Rep Simon Davou Mwapkon who represents Barkin-Ladi/Riyom Federal Constituency in the House of Representatives who similarly slumped had been treated and discharged from hospital.
The STF Commander said, ?Today (Sunday), at about 2.00pm during the burial of the diseased persons of Maseh Village, there was sporadic shooting from the range of the hills surrounding the area which led to a stampede, in the course of which three honourable legislators slumped and were rushed to the hospital.
?Unfortunately, Senator Gyang Dantong (Plateau North Senatorial District) and Hon James Gyang Fulani of the Plateau State House of Assembly died, while Hon Simon Mwapkon of the Federal House of Representatives survived and has been discharged.?
He said about 63 people had been confirmed dead following the incident that took place on Saturday, July 7, when ?unknown gunmen attacked Kakuruk and about eight neighbouring villages in Barkin Ladi and Riyom local government areas.?
He said the search for the assailants was on and called on members of the public to volunteer any information that could help in unravelling the case.
He assured that the situation in the affected areas had been brought under control but advised residents where a partial curfew had been imposed to abide by it.
Plateau State Governor, Jonah Jang, placed a curfew on Jos North, Jos South, Barkin Ladi and Riyom local government areas where tension rose Sunday especially after it became known that Senator Gyang Dantong and Hon James Gyang Fulani had died.
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Lunes, Hulyo 9, 2012
European shares fall
European equities fell for a fourth straight session.
|||European equities fell for a fourth straight session on Monday, led by miners, and were poised for further weakness as a result of a growing batch of gloomy economic and corporate data.
Basic resources and tech shares led fallers as disappointing Chinese inflation and weak numbers from Japan's services and manufacturing sectors came hard on the heels of a worse-than-expected US jobs report on Friday.
“Some investors (had been) expecting the Chinese would continue to grow and manage their slowdown, which would mean that European exports would still go well,” the head of institutional sales at a leading investment bank in London said.
The FTSEurofirst 300 index of top European shares provisionally closed down 0.3 percent at 1,030.83 points. - Reuters
Source: http://www.iol.co.za/european-shares-fall-1.1337393
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Copper steadies from week low
Copper rose slightly on hopes for more monetary easing moves by top metals consumer China.
|||Copper rose slightly on Monday on hopes for more monetary easing moves by top metals consumer China, but concerns that a euro group meeting may not yield concrete results for the region's economy kept gains limited.
China's annual consumer inflation came in at 2.2 percent, a lower rate than May's 3.0 percent, which left room for Beijing to ease policy without stoking upward price pressures and helped most commodities recover from the previous session's losses triggered by dismal US jobs data.
Three-month copper on the London Metal Exchange traded at $7,551 a tonne at 12:26 SA time, up 0.3 percent from a last bid of $7,530 a tonne on Friday.
But analysts said the boost to metals prices may prove short-lived, especially if Chinese gross domestic product figure this week shows that expansion is flagging in the world's second-biggest economy.
“Chinese inflation data showed a drop, so that might allow more easing to take place without causing inflationary pressures. More negative might be the GDP numbers since we had a rate cut last week. That could negative for copper,” Societe Generale analyst Robin Bhar said.
China is the world's top copper consumer, accounting for 40 percent of refined copper demand last year.
“The trend this week could be down. The euro is on its lows, and I think there could be more to come especially if today's (euro group) meeting disappoints,” Bhar added.
The euro hovered near a two-year low, and European shares fell on a darkening global growth outlook combined with low hopes of progress in Europe's debt crisis at a key meeting of finance ministers.
A weaker euro makes dollar-based commodities more expensive for holders of the single currency.
Copper prices earlier in the day sank to their lowest since late June at $7,486 a tonne and are not far from six-month lows of $7,219.50 in late June.
Copper prices have erased gains of more than 12 percent to trade in negative territory for the year.
“Reduced (US) quantitative easing expectations and warnings of slower activity in China are likely to weigh on overall metal sentiment in the coming sessions, particular as we head into the summer shutdown period,” Fastmarkets said in a note.
ALUMINIUM ATTRACTS
A build-out of social housing in China's eastern provinces suggest metals, many of which are near 2012 lows, represent value on a six-to-12-month time horizon, Goldman Sachs said in a note on Monday.
“We expect that a pick-up in Chinese activity, moderate US growth and a build-out of social housing will support metals from current levels ... prices across the complex generally present value to consumers ... assuming European 'containment',” it said.
The bank issued a buy recommendation for Sept 2012 aluminium call options, in particular, given the expected pick-up and its view that aluminium prices are low by historical standards.
“We believe aluminium calls are a good way to express our constructive view on aluminium ... A less leveraged way to trade this view would be to open a long September aluminium futures position with 15 percent upside to our forecast of $2,200/T,” it said.
Aluminium rose to $1,908.25 from a last bid of $1,896 a tonne on Friday.
In other metals, tin was at $18,600 from $18,500, while zinc, used in galvanising was at $1,850.50 from $1,844 a tonne on Friday's
close.
Battery material lead was at $1,863.75 from $1,860, while nickel was at $16,313 from $16,150. - Reuters
Source: http://www.iol.co.za/copper-steadies-from-week-low-1.1337220
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North Korea's Kim Jong Un seen with mystery woman
Speculation grows over identity of woman seen with North Korean leader on state TV at Kim Il-sung anniversary ceremony
A mysterious young woman appearing at the side of North Korea's new leader is the subject of speculation she could be Kim Jong-un's younger sister or even wife, but Pyongyang has released no details.
North Korean state TV on Sunday showed an elegant young woman wearing a black jacket and skirt bowing with Kim at a ceremony marking the 18th anniversary of the death of his grandfather, North Korea founder Kim Il-sung.
She is believed to be the same woman shown on Saturday seated next to Kim at a concert. North Korean state broadcaster showed her walking into the concert hall behind Kim, and they clapped together at the end of Friday's performance.
North Korea's Rodong Sinmun newspaper on Monday ran a photo of Kim and the woman on its website without identifying her. Her appearances with Kim were front-page news in South Korean media.
Little personal information is known about Kim, and even his exact age has not been announced, although he is believed to be in his late 20s. His younger sister Kim Yo Jong was born in 1987, according to Cheong Seong-chang, a North Korea analyst at the Sejong Institute in South Korea.
North Korean officials have refused to comment on speculation about Kim Jong Un's marital status, which has not been listed in official biographies for the young leader.
Kim has appeared regularly in state media since taking power in December after the death of his father, longstanding leader Kim Jong-il, but he is mostly seen with powerful officials and with citizens and cheering soldiers during regular tours of factories, parks and military bases.
Two exceptions have been his aunt ? Kim Jong Il's younger sister, Kim Kyong Hui ? and his uncle Jang Song Thaek, both powerful figures in the government and key advisers. During Kim Jong Il's rule, Kim Kyong Hui often accompanied her brother at official functions.
guardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/world/2012/jul/09/north-korea-kim-jong-un-mystery-woman
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Nigerian naira steadies
The Nigerian naira was flat against the US dollar on the interbank market.
|||The Nigerian naira was flat against the US dollar on the interbank market and firmed marginally at the central bank's bi-weekly auction on Monday with traders expecting the local currency to build on recent gains later this week.
The naira traded at 160.90 naira to the dollar in thin trade that saw some lenders selling dollars at the interbank.
“The market was quiet today with demand for the dollar dropping off from what we are used to seeing,” one dealer said.
Nigeria's currency firmed 1.2 percent last week, after a surge of inflows from foreign investors positioning to buy treasury bills and the central bank's dollar sales to banks.
Traders said an additional $200 million sold by Nigeria's “bad bank” AMCON to some lenders from its debt recovery efforts also provided support for the local currency.
“The outlook favours the naira gaining in the near term because of the gradual returns of offshore investors to the local debt market and possible dollar sales by some oil companies this week,” another dealer said.
Most offshore investors scaled down their investment in treasury bills and bonds two months ago on fears of rising inflation and the debt crisis in the Euro zone, which raised demand for the dollar and caused the naira to fall.
At the bi-weekly foreign exchange auction, the central bank sold $163 million at 155.87 to the dollar, short of the initial $200 million it offered and compared with $251 million sold at 155.90 naira to the dollar last Wednesday. - Reuters
Source: http://www.iol.co.za/nigerian-naira-steadies-1.1337383
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BMW accused of hypocrisy over opposition to European car targets
BMW lobbying against tougher emission proposals while talking up its green credentials as official Olympics car sponsor
BMW is lobbying to water down European plans to improve the fuel efficiency of cars at the same time as trumpeting its green credentials as the official car sponsor of the Olympic Games, according to internal documents seen by the Guardian.
The German car manufacturer ? which on Monday announced a �250m investment by the end of 2015 in three factories in the UK ? is providing 4,000 cars to ferry officials and athletes to and from Olympic sites as part of its deal with the games organisers. It saw off competition from Nissan, which had proposed a fleet of electric cars.
Unveiling the London 2012 cars in April, BMW UK's marketing director, Chris Brownridge, said: "Our cars are best in class in terms of fuel economy and emissions in every segment of the market." And on its Olympics website the company claims: "sustainability is embedded into everything we do."
But an internal BMW review written in June outlines the company's opposition to European commission proposals for a tougher limit on carbon emissions from new cars sold within the EU in 2020.
The company is thought to want to avoid the cost of adapting high-end BMW models to the stricter continent-wide target and has been circulating its document as part of discussions with commission officials and member states.
The document complains that the EU proposal "leads to a massive burden shift to the disadvantage of the premium manufacturers [such as BMW]." It also says that car makers such as BMW that have previously cut emissions "should not be punished by harder targets in the future." It discusses shifting the burden away from re-engineering the cars towards other measure such as use of biofuels.
If the company is successful in weakening the target it will mean that cars sold in Europe will be more expensive to run for drivers and produce more CO2 per mile travelled.
In 2007 and 2008, German car makers lobbied intensively against a 2015 target of 120g/CO2 per kilometre for the average emissions of a car maker's fleet, leading to a weaker target of 130g/CO2 per km eventually being agreed on by European governments. Average new car emissions in Europe were 135.7g in 2011, almost meeting the 2015 target four years early, which environmental campaigners have cited as evidence the targets were not set low enough.
Greg Archer, of campaign group Transport and Environment said: "It is time for the hypocrisy to stop. BMW should stop talking up how green and efficient their cars are whilst at the same time lobbying to weaken planned regulations to improve the fuel efficiency of cars. Car buyers want more fuel-efficient vehicles, that put money in drivers pockets through lower fuel bills."
Luca Lytton, a spokesman for the independent motoring research charity the RAC Foundation, said "We very much support the 95g target. It's clear that a lower CO2 target is better for British motorists' pockets. The target needs to be achievable but we think 95g is."
The car industry is split on the new EU proposals, with smaller car makers such as Fiat, Renault and Peugeot lining up with "progressive" makers such as Ford and Toyota against the German car makers, Volkswagen, BMW and Daimler. Paul Everitt, the chief executive of the UK motoring trade body, the SMMT, told the Guardian the 95g target was "fairly comfortable" ? albeit "technically challenging" ? for manufacturers.
The German car companies are understood to favour a "phase-in approach", where the cut-off date for their new fleets to meet the 95g target is pushed back to 2022, with only a percentage of their fleets required to meet it in 2020 and 2021. A similar phased-in approach was used for the 2015 target ? 75% of a manufacturer's fleet must meet the 2015 target by 2013.
A new version of the leaked proposals shows that additional allowances have been given to heavier and larger vehicles since the first proposals were leaked in early June.
BMW declined to comment.
Sara Ayech, climate campaigner at Greenpeace, said: "The new car efficiency targets being discussed by the EU this week must not let the big polluters off the hook. It's time for the European commission to face down [those] who want to water down the efficiency proposals. The UK government must push for strong car regulations. It will not only help hard-pressed British families to get more efficient vehicles, saving them money but it will be good for the planet by reducing carbon emissions."
On Monday, BMW announced it would be investing �250m in three factories in Oxford, Swindon and Hams Hall near Birmingham for its Mini line-up. "This additional investment is great news for all our employees in the UK and shows the BMW Group's commitment to Britain as a vital manufacturing base for us," said Harald Krueger, member of the board of management at BMW Group.
Tim Bradshaw, head of enterprise and innovation policy at the employers' body, the CBI, said: "BMW's decision to invest in its UK plants re-affirms our position as one of Europe's leading locations for car production, and will have benefits for the wider automotive supply chain."
guardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/environment/2012/jul/09/bmw-hypocrisy-european-car-targets
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