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Archive for May 11, 2006

May 1 – May 5, 2006

May 11, 2006 Leave a comment

Call it the Return of the Beast, blogs Om Malik, who sees Microsoft awakening from its slumber to crush Google—just like Netscape. First step: Make Microsoft’s search engine the default in Explorer. Google’s objecting, but Clickety Clack writes that this setting is easy to change, just like Firefox’s default setting for Google, so what’s the problem? Cry me a river, Google, writes Jeremy Zawodny, who reminds us that Google bought its way into the Firefox default with a revenue-sharing agreement. It’s only when someone else plays browser games that default becomes a big deal.

 Second step: Find (or buy) allies. With Google’s dominance of search increasing, BetaNews reports Microsoft has been discussing acquiring a stake in Yahoo. Not everyone in Redmond is on board, but search is going to be commoditized someday, so Microsoft should spend what it takes to catch up. And it is. NYTimes reports that Microsoft spending will rise sharply next year, more than $2 billion over previous estimates, to address the threat. Third step: Get others to replace Google search with MSN Live.com searches, which is what happened with Amazon over the weekend.

People close to Larry and Sergey are worried about Microsoft says John Battelle’s Searchblog. But Google can’t be too concerned since Microsoft announced Windows Vista slipped again to the second quarter of 2007 (via OSNews) and Gartner advises holding off migrating until 2008!

In Web 2.0 news, Yahoo launched it’s first content play in 5 years with a new gadget-review portal called Yahoo Tech. It combines reviews from Consumer Reports, Yahoo users, and in-house advisors like The Mom to compete with Cnet’s reviews. business2blog rounds up a trio of lukewarm reviews. The Spotback personalized news portal launched, claiming to learn from user preferences over time. TechCrunch likes it because users can customize their page, tag stories, ask for more like this, and get Top Stories as rated by all Spotback users. Best of all: no user account because it’s cookie-driven. Michael Arrington also gives the thumbs up to  Sphere, a blog search engine that lets you sort for relevance in lots of ways. Also get ready: Google Press Day is next week and plenty of announcements are expected including Google Health and video in search results says USA Today’s Kevin Maney. What’s next? Google Gum.

And burn rate re-enters the vocabulary as YouTube is rumored to have raised another $25 million in VC while blowing nearly $1 million a month in bandwidth fees alone, writes TechCrunch. At that rate, Valleywag blogs, YouTube will go bankrupt just in time to miss homemade bootlegs of Hillary’s concession speech in 2008.

In politics, the “day without immigrants” went off peacefully as hundreds of thousands rallied around the country for immigrant rights. Daily Kos wraps up major-media coverage here and Facing South covers the thousands who rallied in the Southeast. Up in the Midwest, Michelle Malkin seethes over a University of  Minnesota instructor, Susana De Leon, who used the May Day march to call white people “wetbacks” and posts photos of signs and symbols used by less politically savvy protesters—Che Guevara, anyone? Aztlan?—here and here .

But forget immigration, gas prices, Iran or Iraq. The blogoshphere was aflame over one of the most jaw-dropping public appearances in the modern era. Stephen Colbert is a dangerous man — a bomb thrower, an assassin, a terrorist with boring hair and rimless glasses says Salon and his brilliant performance unplugged the Bush myth machine. His send up of everyone in sight at the White House Correspondents’ Dinner brought a heavily sheltered president face to face with public outrage and revulsion, blogs Scott Rosenberg. But while the Colbert Report may be the best show on television, Colbert’s liberal bias shows through, blogs Huffington Post. Please please, liberals, stop it. You’re embarrassing all of us says Wonkette. It was just a decent standup act with a lousy audience. And it took 4 days but the NY Times finally noticed the ground-breaking, witheringly sarcastic attack says Boing Boing. Catch the whole thing here on Comedy Central Videos.

Categories: Uncategorized

May 1 – May 5, 2006

May 11, 2006 Leave a comment

Call it the Return of the Beast, blogs Om Malik, who sees Microsoft awakening from its slumber to crush Google—just like Netscape. First step: Make Microsoft’s search engine the default in Explorer. Google’s objecting, but Clickety Clack writes that this setting is easy to change, just like Firefox’s default setting for Google, so what’s the problem? Cry me a river, Google, writes Jeremy Zawodny, who reminds us that Google bought its way into the Firefox default with a revenue-sharing agreement. It’s only when someone else plays browser games that default becomes a big deal.

 Second step: Find (or buy) allies. With Google’s dominance of search increasing, BetaNews reports Microsoft has been discussing acquiring a stake in Yahoo. Not everyone in Redmond is on board, but search is going to be commoditized someday, so Microsoft should spend what it takes to catch up. And it is. NYTimes reports that Microsoft spending will rise sharply next year, more than $2 billion over previous estimates, to address the threat. Third step: Get others to replace Google search with MSN Live.com searches, which is what happened with Amazon over the weekend.

People close to Larry and Sergey are worried about Microsoft says John Battelle’s Searchblog. But Google can’t be too concerned since Microsoft announced Windows Vista slipped again to the second quarter of 2007 (via OSNews) and Gartner advises holding off migrating until 2008!

In Web 2.0 news, Yahoo launched it’s first content play in 5 years with a new gadget-review portal called Yahoo Tech. It combines reviews from Consumer Reports, Yahoo users, and in-house advisors like The Mom to compete with Cnet’s reviews. business2blog rounds up a trio of lukewarm reviews. The Spotback personalized news portal launched, claiming to learn from user preferences over time. TechCrunch likes it because users can customize their page, tag stories, ask for more like this, and get Top Stories as rated by all Spotback users. Best of all: no user account because it’s cookie-driven. Michael Arrington also gives the thumbs up to  Sphere, a blog search engine that lets you sort for relevance in lots of ways. Also get ready: Google Press Day is next week and plenty of announcements are expected including Google Health and video in search results says USA Today’s Kevin Maney. What’s next? Google Gum.

And burn rate re-enters the vocabulary as YouTube is rumored to have raised another $25 million in VC while blowing nearly $1 million a month in bandwidth fees alone, writes TechCrunch. At that rate, Valleywag blogs, YouTube will go bankrupt just in time to miss homemade bootlegs of Hillary’s concession speech in 2008.

In politics, the “day without immigrants” went off peacefully as hundreds of thousands rallied around the country for immigrant rights. Daily Kos wraps up major-media coverage here and Facing South covers the thousands who rallied in the Southeast. Up in the Midwest, Michelle Malkin seethes over a University of  Minnesota instructor, Susana De Leon, who used the May Day march to call white people “wetbacks” and posts photos of signs and symbols used by less politically savvy protesters—Che Guevara, anyone? Aztlan?—here and here .

But forget immigration, gas prices, Iran or Iraq. The blogoshphere was aflame over one of the most jaw-dropping public appearances in the modern era. Stephen Colbert is a dangerous man — a bomb thrower, an assassin, a terrorist with boring hair and rimless glasses says Salon and his brilliant performance unplugged the Bush myth machine. His send up of everyone in sight at the White House Correspondents’ Dinner brought a heavily sheltered president face to face with public outrage and revulsion, blogs Scott Rosenberg. But while the Colbert Report may be the best show on television, Colbert’s liberal bias shows through, blogs Huffington Post. Please please, liberals, stop it. You’re embarrassing all of us says Wonkette. It was just a decent standup act with a lousy audience. And it took 4 days but the NY Times finally noticed the ground-breaking, witheringly sarcastic attack says Boing Boing. Catch the whole thing here on Comedy Central Videos.

Categories: Uncategorized

Politics this week: 6th – 12th May 2006

May 11, 2006 Leave a comment

Politics this week

May 11th 2006
From The Economist print edition

Reuters
Reuters

After a poor result for the Labour Party in local elections, Tony Blair, Britain’s prime minister, sought to reassert his authority by reshuffling his cabinet. Among the changes, he removed Jack Straw from the post of foreign secretary (Margaret Beckett becomes the first woman to hold the job), and sacked Charles Clarke, the home secretary. Mr Blair promised there would be an orderly transition to his likely successor, Gordon Brown. But just not yet. See articleE+

The parliamentary Intelligence and Security Committee concluded that a lack of resources prevented Britain’s security services from stopping the suicide-bombings that took place in London on July 7th last year. See articleE+

Many European countries expressed concerns over a new Polish government that includes two populist parties of the far left and far right. At least the new coalition, unlike the old, will have a parliamentary majority. See articleE+

Vladimir Putin, Russia’s president, gave warning of the malign effect of a shrinking population, and suggested measures to raise the Russian birth rate. In his annual state address, he also called for more defence spending, and reproved external critics and enemies.

Nicolas Sarkozy, France’s interior minister and would-be president, testified to investigating judges in the “Clearstream affair”. President Jacques Chirac expressed total confidence in the government led by Mr Sarkozy’s rival, Dominique de Villepin, but many saw that as a prelude to Mr de Villepin’s departure.

The Middle East Quartet (America, the European Union, Russia and the UN) agreed to a still undefined “temporary mechanism” for getting aid to the Palestinians while bypassing the Palestinian Authority, now run by the Islamists and sometime terrorists of Hamas. Conditions in the West Bank and Gaza deteriorated further when the Israeli firm that provides the Palestinian territories with fuel cut off supplies because it had not been paid. See article

Violence continued unabated in Iraq as the prime minister, Nouri al-Maliki, deliberated on the formation of a new cabinet. In the Kurdish region in the north, two old adversaries, Massoud Barzani and Talal Jalabani, decided to form a joint government.

Iran’s president, Mahmoud Ahmadinejad, opened direct communication with America, cut off after Iran’s 1979 revolution, with a 15-page litany of grievances and no new proposals to end its nuclear dispute with the UN Security Council. Russia and China continued to hold out against a resolution that would threaten sanctions. See articleE+

EPA
EPA

After last week’s peace deal between the Sudanese government and the main rebel group in the Darfur region, America pressed for the UN to send troops to the region as soon as possible. See articleE+

Jacob Zuma, formerly deputy president of South Africa, was cleared of a charge of rape by a court in Johannesburg. His reputation has been diminished by some of his testimony in the trial, and he now faces another trial for corruption in July. See articleE+

Heavy fighting in the Somali capital, Mogadishu, after the collapse of a ceasefire between rival warlords, left hundreds of people dead and wounded.

George Bush nominated air-force General Michael Hayden to head the CIA after the abrupt resignation of Porter Goss. Many in Congress, including senior Republicans, criticised Mr Bush’s choice; General Hayden was in charge of the National Security Agency when a controversial domestic eavesdropping programme was introduced. See articleE+

Mr Bush seemed likely to achieve an extension to his tax cuts on dividends and capital gains as Republicans in Congress agreed to a $70 billion package that also delays the imposition of the alternative minimum tax on 15m upper middle-income families.

The Census Bureau reported that the Hispanic population in the United States had grown to 42.7m in 2005 and accounted for half of the total growth in population since 2004. Births, rather than immigration, provided much of the increase. The data is more grist for the mill in the debate on illegal immigrants.

Venezuela announced yet another tax increase on foreign oil companies, this one on six firms which have invested $17 billion in extracting 600,000 barrels per day of synthetic oil from the Orinoco tar belt. President Hugo Chávez’s government said it would levy taxes and royalties totalling 83.3% on these projects, up from 50.6%.

Óscar Arias took office as Costa Rica’s president, after narrowly winning an election in February. Mr Arias supports ratification of a free-trade agreement with the United States, but may not be able to secure its approval since he lacks a majority in his country’s Congress.

Facing criticism over the nationalisation of Brazilian-operated gasfields in Bolivia, Brazil’s government inaugurated a uranium-enrichment plant capable of producing nuclear fuel. Brazil has forsworn nuclear weapons. It previously sent its uranium to Europe for enrichment.

Singapore’s ruling People’s Action Party won a general election for the tenth time in a row. But its share of the vote in contested seats dropped slightly, to 67%. See article

Thailand’s Constitutional Court annulled the general election of April 2nd. It is still not clear when a new election will be held, nor what the position of Thaksin Shinawatra, who resigned as prime minister because of mass public protests, now is. See articleE+

Reuters
Reuters

India’s Communist parties did well in state elections, winning Kerala and holding on to West Bengal. The Communists support the government, but tend to exercise a block on reform. See articleE+

Despite their poor human-rights records, China, Cuba, Pakistan, Russia and Saudi Arabia all won seats on the UN‘s new Human Rights Council. Iran and Venezuela failed to get elected by the General Assembly, while other rights abusers did not even dare try. The United States, which refused to stand, promised to work to ensure the council was effective.

Categories: Uncategorized

Politics this week: 6th – 12th May 2006

May 11, 2006 Leave a comment

Politics this week

May 11th 2006
From The Economist print edition

Reuters
Reuters

After a poor result for the Labour Party in local elections, Tony Blair, Britain’s prime minister, sought to reassert his authority by reshuffling his cabinet. Among the changes, he removed Jack Straw from the post of foreign secretary (Margaret Beckett becomes the first woman to hold the job), and sacked Charles Clarke, the home secretary. Mr Blair promised there would be an orderly transition to his likely successor, Gordon Brown. But just not yet. See articleE+

The parliamentary Intelligence and Security Committee concluded that a lack of resources prevented Britain’s security services from stopping the suicide-bombings that took place in London on July 7th last year. See articleE+

Many European countries expressed concerns over a new Polish government that includes two populist parties of the far left and far right. At least the new coalition, unlike the old, will have a parliamentary majority. See articleE+

Vladimir Putin, Russia’s president, gave warning of the malign effect of a shrinking population, and suggested measures to raise the Russian birth rate. In his annual state address, he also called for more defence spending, and reproved external critics and enemies.

Nicolas Sarkozy, France’s interior minister and would-be president, testified to investigating judges in the “Clearstream affair”. President Jacques Chirac expressed total confidence in the government led by Mr Sarkozy’s rival, Dominique de Villepin, but many saw that as a prelude to Mr de Villepin’s departure.

The Middle East Quartet (America, the European Union, Russia and the UN) agreed to a still undefined “temporary mechanism” for getting aid to the Palestinians while bypassing the Palestinian Authority, now run by the Islamists and sometime terrorists of Hamas. Conditions in the West Bank and Gaza deteriorated further when the Israeli firm that provides the Palestinian territories with fuel cut off supplies because it had not been paid. See article

Violence continued unabated in Iraq as the prime minister, Nouri al-Maliki, deliberated on the formation of a new cabinet. In the Kurdish region in the north, two old adversaries, Massoud Barzani and Talal Jalabani, decided to form a joint government.

Iran’s president, Mahmoud Ahmadinejad, opened direct communication with America, cut off after Iran’s 1979 revolution, with a 15-page litany of grievances and no new proposals to end its nuclear dispute with the UN Security Council. Russia and China continued to hold out against a resolution that would threaten sanctions. See articleE+

EPA
EPA

After last week’s peace deal between the Sudanese government and the main rebel group in the Darfur region, America pressed for the UN to send troops to the region as soon as possible. See articleE+

Jacob Zuma, formerly deputy president of South Africa, was cleared of a charge of rape by a court in Johannesburg. His reputation has been diminished by some of his testimony in the trial, and he now faces another trial for corruption in July. See articleE+

Heavy fighting in the Somali capital, Mogadishu, after the collapse of a ceasefire between rival warlords, left hundreds of people dead and wounded.

George Bush nominated air-force General Michael Hayden to head the CIA after the abrupt resignation of Porter Goss. Many in Congress, including senior Republicans, criticised Mr Bush’s choice; General Hayden was in charge of the National Security Agency when a controversial domestic eavesdropping programme was introduced. See articleE+

Mr Bush seemed likely to achieve an extension to his tax cuts on dividends and capital gains as Republicans in Congress agreed to a $70 billion package that also delays the imposition of the alternative minimum tax on 15m upper middle-income families.

The Census Bureau reported that the Hispanic population in the United States had grown to 42.7m in 2005 and accounted for half of the total growth in population since 2004. Births, rather than immigration, provided much of the increase. The data is more grist for the mill in the debate on illegal immigrants.

Venezuela announced yet another tax increase on foreign oil companies, this one on six firms which have invested $17 billion in extracting 600,000 barrels per day of synthetic oil from the Orinoco tar belt. President Hugo Chávez’s government said it would levy taxes and royalties totalling 83.3% on these projects, up from 50.6%.

Óscar Arias took office as Costa Rica’s president, after narrowly winning an election in February. Mr Arias supports ratification of a free-trade agreement with the United States, but may not be able to secure its approval since he lacks a majority in his country’s Congress.

Facing criticism over the nationalisation of Brazilian-operated gasfields in Bolivia, Brazil’s government inaugurated a uranium-enrichment plant capable of producing nuclear fuel. Brazil has forsworn nuclear weapons. It previously sent its uranium to Europe for enrichment.

Singapore’s ruling People’s Action Party won a general election for the tenth time in a row. But its share of the vote in contested seats dropped slightly, to 67%. See article

Thailand’s Constitutional Court annulled the general election of April 2nd. It is still not clear when a new election will be held, nor what the position of Thaksin Shinawatra, who resigned as prime minister because of mass public protests, now is. See articleE+

Reuters
Reuters

India’s Communist parties did well in state elections, winning Kerala and holding on to West Bengal. The Communists support the government, but tend to exercise a block on reform. See articleE+

Despite their poor human-rights records, China, Cuba, Pakistan, Russia and Saudi Arabia all won seats on the UN‘s new Human Rights Council. Iran and Venezuela failed to get elected by the General Assembly, while other rights abusers did not even dare try. The United States, which refused to stand, promised to work to ensure the council was effective.

Categories: Uncategorized

Business this week: 6th – 12th May 2006

May 11, 2006 Leave a comment

Business this week

May 11th 2006
From The Economist print edition

Wachovia, America’s fourth-largest bank, launched a takeover for Golden West Financial, a Californian savings-and-loan, in a deal that Wachovia valued at $25.5 billion. However, Wachovia’s share price fell as investors fretted that the bank had paid too much for Golden West in an uncertain housing market. See articleE+

In its biggest acquisition since 2000, UBS said it would pay up to $2.5 billion for Banco Pactual, a Brazilian equities and investments firm. The move opens Swiss-based UBS to Latin America’s growing asset-and-wealth-management market.

NASDAQ further increased its holding in the London Stock Exchange, to 24.1%, putting other exchanges that may be contemplating a bid for the LSE on the back foot. Meanwhile, it emerged that French insurer AXA has taken a 10.6% stake in NASDAQ, purely for “investment purposes”.

Warren Buffett suggested he would make more overseas deals following Berkshire Hathaway’s first non-American acquisition. The investment group bought an 80% stake, for $4 billion, in Iscar, an Israeli cutting-tools firm. See articleE+

A bankruptcy judge began hearing Delphi’s arguments as to why it should be allowed to cancel its labour contracts. Unions are threatening to strike if the auto-parts supplier carries out the move as a step in a wide-ranging restructuring. General Motors’ chief executive, Rick Wagoner, reiterated that the carmaker badly wanted to settle the dispute, because production would suffer from a strike at Delphi. Meanwhile, GM said regulators had allowed it to revise its accounting of a deal with unions on health care, which reverses its first-quarter loss to a $445m net profit. Investors were happy, boosting GM‘s share price by 9%. See article

United Airlines’parent company posted a net profit of $23 billion for the first quarter as it discharged liabilities from exiting bankruptcy, without which it lost $306m.

Toyota reported a record net profit of ¥1.37 trillion ($12.1 billion) for the year ending March 31st. Japan’s biggest carmaker has seen sales of its vehicles rise in every region of the world (except Japan) and is steadily advancing in the North American market, outstripping Chrysler in April.

Apple Corps, the Beatles’ music company, said it would appeal a judge’s ruling to allow Apple Computer to continue displaying its multi-coloured logo on its iTunes digital music site. Apple Corps, which depicts a green apple as its logo, argued the computer-maker had breached a 1991 agreement that limited the use of each other’s symbols to music and computing respectively.

A court in Britain granted GlaxoSmithKline an injunction against an animal-rights group that intends to publish personal details of GSK shareholders. The activists threatened the action in letters sent to investors because the drug company uses Huntingdon Life Sciences, a controversial animal-testing company.

Two New England-based firms specialising in laboratory services, Thermo Electron and Fisher Scientific, agreed to merge in a $10.6 billion deal that creates America’s biggest supplier of research equipment.

Just a few days after launching a bid, Macquarie Bank withdrew from the hotly contested takeover battle for Patrick, Australia’s biggest cargo handler. Toll Holdings, a land-transport and storage firm which launched a hostile bid for Patrick last August, said it would not raise its A$6.2 billion ($4.8 billion) offer.

OMV, an Austrian oil firm, is to merge with Verbund, a utility, in a combination worth euro29 billion ($37 billion). The move, in which Austria’s government will swap its 51% stake in Verbund for shares (it also retains a large stake in OMV), comes soon after the country’s gas supply was disrupted by Gazprom’s dispute with Ukraine.

Lakshmi Mittal said he could reduce his control of Mittal Steel and raise the offer for Arcelor if the Luxembourg-based firm dropped its opposition to Mittal’s bid. The move is the latest shot in a long-running takeover battle.

Speculation grew over the consolidation in Canada’s mining industry, as Teck Cominco made a C$17.8 billion ($16.1 billion) hostile bid for Inco, which in turn said it remained committed to its much-delayed takeover of Falconbridge. Others are expected to join the fray.

The price of gold continued its relentless ascent and broke the barrier of $700 a troy ounce, less than a month after passing $600. A contributing factor was the weak dollar, which led investors to diversify into precious metals.

Categories: Uncategorized

Business this week: 6th – 12th May 2006

May 11, 2006 Leave a comment

Business this week

May 11th 2006
From The Economist print edition

Wachovia, America’s fourth-largest bank, launched a takeover for Golden West Financial, a Californian savings-and-loan, in a deal that Wachovia valued at $25.5 billion. However, Wachovia’s share price fell as investors fretted that the bank had paid too much for Golden West in an uncertain housing market. See articleE+

In its biggest acquisition since 2000, UBS said it would pay up to $2.5 billion for Banco Pactual, a Brazilian equities and investments firm. The move opens Swiss-based UBS to Latin America’s growing asset-and-wealth-management market.

NASDAQ further increased its holding in the London Stock Exchange, to 24.1%, putting other exchanges that may be contemplating a bid for the LSE on the back foot. Meanwhile, it emerged that French insurer AXA has taken a 10.6% stake in NASDAQ, purely for “investment purposes”.

Warren Buffett suggested he would make more overseas deals following Berkshire Hathaway’s first non-American acquisition. The investment group bought an 80% stake, for $4 billion, in Iscar, an Israeli cutting-tools firm. See articleE+

A bankruptcy judge began hearing Delphi’s arguments as to why it should be allowed to cancel its labour contracts. Unions are threatening to strike if the auto-parts supplier carries out the move as a step in a wide-ranging restructuring. General Motors’ chief executive, Rick Wagoner, reiterated that the carmaker badly wanted to settle the dispute, because production would suffer from a strike at Delphi. Meanwhile, GM said regulators had allowed it to revise its accounting of a deal with unions on health care, which reverses its first-quarter loss to a $445m net profit. Investors were happy, boosting GM‘s share price by 9%. See article

United Airlines’parent company posted a net profit of $23 billion for the first quarter as it discharged liabilities from exiting bankruptcy, without which it lost $306m.

Toyota reported a record net profit of ¥1.37 trillion ($12.1 billion) for the year ending March 31st. Japan’s biggest carmaker has seen sales of its vehicles rise in every region of the world (except Japan) and is steadily advancing in the North American market, outstripping Chrysler in April.

Apple Corps, the Beatles’ music company, said it would appeal a judge’s ruling to allow Apple Computer to continue displaying its multi-coloured logo on its iTunes digital music site. Apple Corps, which depicts a green apple as its logo, argued the computer-maker had breached a 1991 agreement that limited the use of each other’s symbols to music and computing respectively.

A court in Britain granted GlaxoSmithKline an injunction against an animal-rights group that intends to publish personal details of GSK shareholders. The activists threatened the action in letters sent to investors because the drug company uses Huntingdon Life Sciences, a controversial animal-testing company.

Two New England-based firms specialising in laboratory services, Thermo Electron and Fisher Scientific, agreed to merge in a $10.6 billion deal that creates America’s biggest supplier of research equipment.

Just a few days after launching a bid, Macquarie Bank withdrew from the hotly contested takeover battle for Patrick, Australia’s biggest cargo handler. Toll Holdings, a land-transport and storage firm which launched a hostile bid for Patrick last August, said it would not raise its A$6.2 billion ($4.8 billion) offer.

OMV, an Austrian oil firm, is to merge with Verbund, a utility, in a combination worth euro29 billion ($37 billion). The move, in which Austria’s government will swap its 51% stake in Verbund for shares (it also retains a large stake in OMV), comes soon after the country’s gas supply was disrupted by Gazprom’s dispute with Ukraine.

Lakshmi Mittal said he could reduce his control of Mittal Steel and raise the offer for Arcelor if the Luxembourg-based firm dropped its opposition to Mittal’s bid. The move is the latest shot in a long-running takeover battle.

Speculation grew over the consolidation in Canada’s mining industry, as Teck Cominco made a C$17.8 billion ($16.1 billion) hostile bid for Inco, which in turn said it remained committed to its much-delayed takeover of Falconbridge. Others are expected to join the fray.

The price of gold continued its relentless ascent and broke the barrier of $700 a troy ounce, less than a month after passing $600. A contributing factor was the weak dollar, which led investors to diversify into precious metals.

Categories: Uncategorized

TN Updates

May 11, 2006 Leave a comment

View Vote Tally     |     View Alliances      |     View Vote Share     |     View Vote Change

Total Leads : 234      |      Total Results : 224      |      Total Seat: 234

Party Name

Leads

Results

DMK

93
91
Vote Share

Vote Change

ADMK

65
57
Vote Share

Vote Change

INC

34
34
Vote Share

Vote Change

PMK

18
18
Vote Share

Vote Change

CPM

10
10
Vote Share

Vote Change

CPI

6
6
Vote Share

Vote Change

MDMK

6
6
Vote Share

Vote Change

VCK

1
1
Vote Share

Vote Change

IND

1
1

From – IBN Live

Categories: Uncategorized

TN Updates

May 11, 2006 Leave a comment

View Vote Tally     |     View Alliances      |     View Vote Share     |     View Vote Change

Total Leads : 234      |      Total Results : 224      |      Total Seat: 234

Party Name

Leads

Results

DMK

93
91
Vote Share

Vote Change

ADMK

65
57
Vote Share

Vote Change

INC

34
34
Vote Share

Vote Change

PMK

18
18
Vote Share

Vote Change

CPM

10
10
Vote Share

Vote Change

CPI

6
6
Vote Share

Vote Change

MDMK

6
6
Vote Share

Vote Change

VCK

1
1
Vote Share

Vote Change

IND

1
1

From – IBN Live

Categories: Uncategorized