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Saturday, 26 May 2012

Euro Crisis: We'll stop migrants if euro collapses ~ May

Posted on 08:56 by Unknown

In an interview in The Daily Telegraph, Theresa May says “work is ongoing” to restrict European immigration in the event of a financial collapse.
People from throughout the EU, with the exception of new member countries such as Romania and Bulgaria, are able to work anywhere in the single market.
However, there are growing concerns that if Greece was forced to leave the euro, it would effectively go bankrupt and millions could lose their jobs and consider looking for work abroad.
The crisis could spread quickly to other vulnerable countries such as Spain, Ireland and Portugal, although Britain is regarded as a safe haven because it is outside the single currency.
Details of the contingency plan emerged as the euro crisis deepened further yesterday.
Catalonia was forced to turn to the Spanish government for a bail-out and speculation mounted that Bankia, the troubled Spanish bank, would need £15  billion in state support. European markets fell again as the euro dropped in value against other major currencies.
The Home Secretary says that the Government is already “looking at the trends” to determine whether immigration from beleaguered European countries is increasing. While there is no evidence of increased migration at present, she adds that it is “difficult to say how it is going to develop in coming weeks”.
On the subject of whether emergency immigration controls are under consideration, Mrs May says: “It is right that we do some contingency planning on this [and] that is work that is ongoing.”
The introduction of immigration controls within the EU would undermine a key part of the single market. However, it is allowed in “exceptional” circumstances under European law.
Controls are most likely to include restrictions on people seeking to work in Britain, who could be made to apply for visas.
Several European governments introduced temporary immigration controls when countries such as Poland and the Czech Republic joined the EU, to stop an influx of workers. France also threatened to reintroduce passport controls at the Italian border following an influx of Libyan and Tunisian refugees during the Arab Spring.
David Cameron has already said that Britain has made contingency plans to deal with the break-up of the single currency.
They involve preparations to evacuate Britons from Greece if civil disobedience spirals out of control, and for banks to take steps to protect
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Thursday, 24 May 2012

Facebook stock slipping: lawsuits add to IPO troubles

Posted on 06:37 by Unknown
Facebook’s initial public offering is the subject of two congressional inquiries and mounting lawsuits as the social network enters its fifth day of public trading. The shares regained some ground Wednesday, rising $1, or 3.2 percent, to close at $32. They were up another 50 cents, or 1.6 percent, to $32.50 in early premarket trading Thursday. But they are still more than 14 percent below their $38 per share IPO price last week.

The stock’s rocky inaugural trading day last Friday was followed by a two-day decline. The launch was held up by a half-hour delay, caused by glitches on the Nasdaq Stock Market. It was marred further this week as investors began accusing the banks that arranged the IPO of sharing important information about Facebook’s business prospects with some clients and not others.
Several shareholders who bought stock in the IPO have filed lawsuits against Facebook, its executives and Morgan Stanley, the IPO’s lead underwriter. At question is whether analysts at the big underwriter investment banks cut their second-quarter and full-year forecasts for Facebook just before the IPO, and told only a handful of clients about it.
One lawsuit, filed in U.S. District Court in New York, claims Facebook’s IPO documents contained untrue statements and omitted important facts, such as a “severe reduction in revenue growth” that Facebook was experiencing at the time of the offering. The suit’s three plaintiffs, who bought Facebook stock on its first day of trading May 18, claim they were damaged in the process.

Morgan Stanley declined to comment. Facebook said the lawsuit is without merit.
Another lawsuit, filed in San Mateo County Superior Court in California, claims Facebook and underwriters misled investors in Facebook’s IPO documents. Both lawsuits seek class action status on behalf of investors who bought Facebook stock and lost money on Friday. “No one gets it perfect, as far as saying what the financial results are,” said Anthony Michael Sabino, professor at St. John’s University’s Peter J. Tobin College of Business. The bottom line, he added, is whether Facebook or the underwriter had material information about Facebook’s finances that was not disclosed publicly. “At this moment, it’s still too early to say,” Sabino said. “We don’t know enough, but this could turn out to be an issue.”
What is known is that, in March, Facebook began meeting with analysts at the underwriting firms. The gatherings are a customary part of the IPO process and are designed to help analysts understand the company’s business so they can make accurate financial projections. On May 9, the third day of Facebook’s pre-IPO roadshow to meet with prospective investors, the company filed an amended IPO document that said its number of mobile users was growing faster than its revenue. According to a person familiar with the matter, Facebook then had another meeting with analysts and told them that based on the new information in the filings, the analysts’ forecasts should be at the low end of the range that the company gave them in April. The person spoke on the condition of anonymity because they were not publicly authorized to discuss the matter.
Adding to Wednesday’s events, Facebook was in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after the botched offering, according to a person familiar with the matter. The person spoke on the condition of anonymity because they were not authorized to speak publicly. The news of the talks was first reported by Reuters.
NYSE spokesman Rich Adamonis said: “There have been no discussions with Facebook regarding switching their listing in light of the events of the last week, nor do we think a discussion along those lines would be appropriate at this time.”
A Nasdaq spokesman declined to comment.
Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee, said late Wednesday that his panel wants to learn more about the social network’s initial offering. The committee seeks briefings with Facebook representatives, regulatory agencies and others. After the briefings, Johnson said, he will determine whether a hearing should be held.
Also gathering information about Facebook’s IPO is the House Financial Services Committee. An aide to that panel said its staff is getting briefings. The subject is likely to be raised in hearings by the committee in the coming weeks, even though no hearings are planned specifically on the Facebook IPO, the aide said. The aide spoke on condition of anonymity because the House committee’s planned inquiry hasn’t been publicly announced.
[EW]
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Australian Woman is World’s Richest Woman

Posted on 06:00 by Unknown
Damn! Ma'am is sure eating deep into her money!
Americans no longer hold claim to the world’s richest people.First, Bill Gates lost the "world’s richest man" crown to Carlos Slim, the Mexican businessman. Now, according to Australia’s BRW magazine, Gina Rinehart – the Australian mining magnate – has become the world’s richest woman. She takes the crown from Wal-Mart heiress Christy Walton, who held the title of world’s richest woman for seven years.

According to BRW’s 2012 Rich 200 List, Ms. Rinehart’s net worth is now $29.7 billion. That tops Ms. Walton’s $26 billion pile. Ms. Rinehart’s fortune has nearly tripled over the past year – at the rate of more than $1 million per hour – due to the mining boom in Australia and strong commodity prices. 
 Of course, guessing people’s wealth is usually a guess. And the Bloomberg Billionaire Index lists Ms. Rinehart's current wealth at a mere $18 billion, putting her well below Christy. So there is room for disagreement.
BRW said Ms. Rinehart could become the richest person in the world if commodity prices and Ms. Rinehart’s mining projects continue to grow. (The same boast is being made by Brazilian mining magnate Eike Batista).
Yet with her new crown comes anxiety. Ms. Rinehart, as my readers might recall, has been engaged in a vicious battle with her own kids over control of the family business empire.  Three of Rinehart's four kids - John Hancock, Bianca Rinehart and Hope Welker – are suing her to oust her as trustee of the multibillion-dollar family trust established by her late father Lang Hancock. 
Ms. Rinehart has said that her kids are unfit to run the business. “None of the plaintiffs (her children) has the requisite capacity or skill, nor the knowledge, experience, judgment or responsible work ethic to administer a trust in the nature of the trust in particular as part of the growing HPPL Group,” she claimed in court papers.
She is also facing new claims from Aboriginal landowners who say her company isn’t paying them enough for royalty payments.
Apparently, it’s not easy at the top – even with $28 billion.
[CNBC]
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Wednesday, 23 May 2012

Big Brother Africa 2012 Sex: Jessica and Luke getting it in

Posted on 07:37 by Unknown
If  you are familiar with the Big Brother Reality show, you will know that the reason while it has people glued to their TV sets is because of the random sexual actions here an there. This year's show, the Big Brother Star game is not an exception. The Big Brother Star Game's first sexual encounter involves Namibian housemate Jessica and Liberian counterpart Luke.
The bonking happened on Sunday, May 16, 2012 hours before Luke got booted out of the house along Yadel (Liberia) and Dalphin (Sierra Leone)
While everyone was sleeping, the two decided it was time to get it in. From the look though, Jessica is def not bad at her game. Ha!

Viewer Discretion Advised: 18+


Watch Here
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Tuesday, 22 May 2012

Lagos Doctors Solidarity Strike Illegal ~ Reps

Posted on 07:59 by Unknown
The House of Representatives Committee on Health yesterday described as unconstitutional the indefinite strike by doctors in the employment of the Federal Government in solidarity with their sacked Lagos State counterparts and appealed to them to go back to work immediately.

There were also strong indications last night that the Nigerian Medical Association (NMA), Lagos State chapter may have a rethink concerning the crisis.
The NMA, in the wake of the strike, had threatened to ground health services in the state, if the government fails to end the face off with its doctors, within a given period of time.
However, Lagos State chapter of the Action Congress of Nigeria (ACN) has decried the threats and intimidations being dished out by the disengaged striking Lagos doctors on the newly recruited doctors.
But Chairman of the committee, Hon. Ndudi Elumelu, who led other members to an emergency meeting with Chief Medical Directors (CMDs) of the four Federal Government owned hospitals in Lagos, expressed worry over the crisis in the health sector.
"We are getting too many strikes in the health industry. It is important that for every action that we take, there is need to look at the legality and constitutionality of such actions. You do not use conflicts to resolve conflict. Continuous dialogue is the best option," he said.
The chairman expressed concern over the plights of the patients, particularly the masses, who according to him, do not have better means of achieving better alternative health care. "The question now is that we have patients who have been left unattended to and not being cared for and as this strike is going on should we say that the salary should be stopped and that if we resolve the issues salary will start running?" he said.
Addressing the journalists after the meeting, Elumelu expressed optimism that the outcome of the meeting will achieve progress as the doctors promised to call an emergency meeting for the benefit of all.
Reacting to a question, Elumelu said: "We are here in respect of the Federal Government employees, who are on solidarity strike. That informed our visit."
He hinted further that, "during our deliberation, it was agreed that doctors agreed to embark on this solidarity strike at their own meeting and for them to call it off, they also need that emergency meeting to enable them discuss, review the reasons for embarking on the strike and be able to come up with a quick resolution. Now you will agree with me that they need that space before the close of business today and which they have agreed they will do."
Chairman of NMA, Lagos Chapter, Dr Edamisan Temiye, in response to the meeting, said NMA had agreed to hold an emergency meeting soonest to review the situation on ground, assuring that in the main time, the doctors would continue to take care of the in-patients on admission.
Meanwhile, ACN's Publicity Secretary of the party, Mr. Joe Igbokwe, advised the sacked doctors to embrace dialogue and peace offered by Lagos State government position that it is still ready to listen to the sacked doctors and stop thinking they can be allowed to cripple the health sector in Lagos.
"We see the threat messages to the newly recruited doctors as a condemnable act that aims to completely paralysing health delivery in Lagos in the wake of the intransigence of the sacked doctors who decided to abandon their professional calling for personal comfort and other trivial benefits.
"We see this unprofessional conduct as demeaning of the status of doctors who should not be associated with anything that constitutes threat to lives and we condemn those behind this effort to scare away the newly recruited doctors from taking up the responsibilities the sacked doctors abandoned.
"While we condemn this resort to uncivilised self help by the sacked doctors, we urge them to go back to the negotiation table with the state government, which has declared that its doors are still open for further engagement with the sacked doctors.
"We urge them to put their acts together and signify intent to go back to work so as to allow for further talks with the government. We restate our position that medical doctors are life savers and that they undermine their professional callings by abandoning their professional duties in pursuit of added comfort," the party stated.
[Thisday]
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Bye Drogba: Chelsea confirm Drogba is leaving next month

Posted on 07:49 by Unknown
Chelsea have confirmed their star, Didier Drogba will leave the club when his contract expires in June.
The news follows a report in France that claimed the Ivory Coast striker had told his Chelsea team-mates that he had kicked his last ball for the newly-crowned European champions.
"Didier is undoubtedly a Chelsea legend and will always be part of the Chelsea family. He is certainly leaving on a high after Saturday night but he feels the time is right for a new challenge," Chelsea chief executive Ron Gourlay said.
"Of course Didier has contributed so much to all of Chelsea's recent successes. He has been a consummate professional during his entire time here and as one of the natural leaders in our squad he has been an inspiration to a lot of our younger players.
"We have known for some time that this outcome was likely but Didier and the club only made a final decision on that in the last couple of days, because for obvious reasons neither Didier nor the club wanted to distract focus away from the Champions League final.
"The talks were amicable all the way through and we wish him all the best for the future. He is welcome back to Stamford Bridge at any time - either as a player or as a guest of ours."
The striker, 34, who has been heavily linked with a move to Shanghai Shenhua where he could link up with former Chelsea team-mate Nicolas Anelka, thanked his team-mates and owner Roman Abramovich after spending eight years at the club during which time he scored 157 goals in 341 appearances while winning three Premier League titles, four FA Cups, two League Cups and the Champions League.
"I wanted to put an end to all the speculation and confirm that I am leaving Chelsea. It has been a very difficult decision for me to make and I am very proud of what we have achieved but the time is right for a new challenge for me.
"As a team we have accomplished so much and have won every single trophy possible. Saturday was a very special moment for everyone at the club and for all the fans, and I am very proud to have played my part in bringing many trophies to this club, which has been my home for the last eight years.
"I would like to take this opportunity to thank everyone at the club especially Roman and my team-mates, many of whom have become very close friends and will be my friends for life. I would also like to say a very special thank you to the Chelsea fans who have shown me so much love and support over the years.
"I wish the club all the best and continued success for the future - you will always be in my heart." 
[Telegraph]

Also Read: Jose Mourinho is Madrid for Life.... pens new contract
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Jose Mourinho is Madrid for Life.... pens new contract

Posted on 07:28 by Unknown
 Real Madrid  boastful coach Jose Mourinho has signed a new four year contract with Spanish club giant Real Madrid which will see him staying at the Bernabeu till 2016.
The Portuguese coach , 49, took over at Real in 2010 and guided his team to success in the Copa del Rey in his first campaign in charge.
This season, he led Real to their first league title in four years.
Mourinho won the Premier League twice with Chelsea and has won domestic and Champions League titles with both Porto and Inter Milan.
Real went out of their domestic cup competition at the quarter-final stage this season, losing 4-3 on aggregate to Barcelona and lost on penalties in the Champions League semi-finals to defeated finalists Bayern Munich.
But they won La Liga by nine points, their 32nd title in all but their first since 2007-08. Their totals of 100 points and 121 goals were new Primera Division records.
We must say that we honestly don't see the proud one Jose staying out his contract. Fingers crossed.
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