October 18, 2011 at 5:33am
Deals of the day — mergers and acquisitions
** MTN Group , Africa’s largest mobile operator, is
in talks to acquire Vodacom’s wireless unit in the
Democratic Republic of Congo, Bloomberg said on Tuesday, citing
two unidentified sources.** Danone SA is in talks with Japanese beverage
firm Suntory Holdings about a sale of the French
group’s water assets, Bloomberg News reported on Tuesday.** Saudi Arabia’s Savola Group on Monday signed an
agreement to buy a 78 percent stake in two Egyptian firms for
557 million Egyptian Pounds ($97.8 million), it said in a
statement on Tuesday.** Danish energy group DONG Energy will enter
the UK natural gas sales market through the acquisition of gas
sales and marketing company Shell Gas Direct, part of energy
group Royal Dutch Shell Plc (RDSa.L), for 30 million pounds
($47.3 million).** ITV , Britain’s biggest free-to-air commercial
broadcaster, has agreed to buy Channel Islands broadcaster
Channel Television from Yattendon, bringing an independent
corner of its regional network under its ownership.** Taiwan smartphone maker HTC Corp said on
Tuesday it plans to buy Inquisitive Minds, a U.S. maker of
children’s software, for $13 million to expand its offering of
applications.
October 14, 2011 at 3:15am
Indian wives fast, luxuriously, for husbands
“Since a very long time ago, we have been looking at our mothers celebrate,” says the 25-year-old Syal, who is making her Karva Chauth debut as a newlywed. “It is our turn now.”But it’s different for the teacher-turned-homemaker, who, as a member of India’s rapidly growing middle class, will be doing a lot more than her mother ever did for the festival.While it is customary for women to apply henna on their hands, buy clothes and expect gifts from relatives, the new generation of fast-keepers, with money to spare, is exploring a range of pampering options. They are spoilt for choice.Syal will indulge in a 5,000 rupee ($102) diamond facial and body spa treatment to make sure she looks her best.Also on the must-have list for the urban elite are botox, laser-hair reduction and chemical peel treatments at spas and beauty parlors offering Karva Chauth packages.”There is a 30 to 40 percent increase in the number of patients who look for cosmetic procedures around this time,” says Amit Bangia, head of the department of dermatology at the Asian Institute of Medical Sciences.The origins of the festival are shrouded in mystery, but one tale tells of a queen being duped by her brothers into breaking her fast before moonrise, leading to the king’s immediate death. She is given a second chance, fasts faithfully — and he returns to life.SWAROVSKI SIEVESA booming economy and wave of consumerism have given India’s middle-class more spending power, and malls and luxury stores are wooing women with items such as Swarovski crystal-studded channis, the sieve traditionally used to look at the moon before breaking the day’s fast.For the tech-savvy, jewelry firm Tanishq has introduced a Karva Chauth smartphone app to complement its festival line-up. The app converts the phone into a sieve for the night.Even mehendi-wallas, the artists who apply henna, make a killing with their custom-made designs. Some charge 5,100 rupees to do both hands.But not everyone indulges.Shalini Sood Bhaduri, a former marketing professional, finds the festival “absolutely ridiculous” and “off-putting.”“I really don’t believe that by observing the fast for one day, it is going to add to his life,” she said.Some feminists, however, believe it may be too simplistic to dismiss Karva Chauth as a patriarchal custom. Madhu Kishwar, a senior fellow at the Center for the Study of Developing Societies in Delhi, sees it as an interesting “game-play between men and women.”“There are so many rituals that women seem to have devised to raise the testosterone level of men … that is when men are more likely to be indulgent partners,” she said.Recently, Bollywood hits such as “Dilwale Dulhania Le Jayenge” — “Large-Hearted Person will Take the Bride Away,” starring Shah Rukh Khan — have also made the festival more even-handed, with the hero fasting for his beloved.Rohan Vasudeva, a Delhi-based businessman, observed the fast for his fiance last year when they were engaged. This time, Vasudeva will leave the fasting to his wife. But he is still counting down to Saturday.”I am looking forward to taking her out to dinner.”
October 13, 2011 at 5:45pm
UPDATE 1-Canada approves LNG exports for Apache-led project
The gas will come from conventional reserves and shale gas
projects in Western Canada, and will be taken by pipeline to a
liquefaction plant at Kitimat, British Columbia.The plant and pipeline still require provincial approval.Apache has a 40 percent stake in the Kitimat LNG project on
the Pacific Coast, while EOG Resources Inc and Encana
Corp each own 20 percent.Plans call for the LNG to be shipped by tanker to markets
in the Asia-Pacific region.
October 12, 2011 at 3:46am
UPDATE 1-Former News Corp exec recalled to hacking hearing
* Les Hinton to appear before UK parliament againBy Kate HoltonLONDON, Oct 11 (Reuters) - Rupert Murdoch’s former
lieutenant, Les Hinton, is set to appear for a second time
before a powerful British parliamentary committee to answer
questions about the phone hacking scandal that forced his
resignation.The recall for Hinton, who worked with the News Corp
boss for more than half a century, will reignite the
scandal at a time when the media group is working to move on by
announcing donations to charity and the departure of staff.Hinton resigned in July at the height of the drama as it
emerged that people working for the News of the World tabloid
had hacked the phones of people ranging from celebrities to
crime victims in search of exclusive stories.He is likely to face tough questions when he appears before
the committee on Oct. 24 as part of its investigation into how
the criminal activity continued unchecked at the paper, then
Britain’s most popular Sunday tabloid, for such a long time.The debonair executive appeared before the Parliament Select
Committee in 2009 to answer questions about the scandal. He also
went before it in 2007 to discuss wider press issues, but took
questions too on allegations about hacking.In 2007 Hinton told the committee the company had carried
out a “full, rigorous internal inquiry” into the use of illegal
phone hacking and he was “absolutely convinced” the practice was
limited to a single reporter.Since then, however, further investigation by the committee
has revealed that that single reporter wrote a letter to Hinton
just days before he appeared before the committee, telling him
that phone hacking was widespread throughout the paper.Hinton is the most senior News Corp executive to be damaged
by the scandal so far.He was executive chairman at News Corp’s parent, News
International, at the time when much of the hacking was alleged
to have occurred and moved on to run the New York-based Dow
Jones & Co., another arm of Murdoch’s empire.Two lawyers involved in the scandal will appear before the
committee on Oct. 19.CHARITABLE DONATIONNews of Hinton’s recall is likely to detract from the
announcement earlier in the day that News International would
donate to British and Irish charities 2.8 million pounds ($4.4
million) from sales of the last edition of News of the World.Tom Mockridge, the new chief executive of News Corp, the
group’s British newspaper arm, said the money had been raised
from the sale of 3.8 million copies of the paper’s final edition
in July.He also announced that following the paper’s closure, nearly
200 people had left the company and 65 members of staff were
redeployed.Mazher Mahmood, the investigative reporter dubbed the “Fake
Sheikh”, has moved to Murdoch’s Sunday Times. Mockridge said 81
members of staff had taken the early-leaver option and around
100 were made redundant.New International closed the tabloid in a bid to contain the
crisis which had hammered News Corp’s value and reputation.The 2.8 million pounds will be donated to three UK-based
charities while five charities in Ireland will split the profits
from the Irish sale.Many of the paper’s staff said the hacking occurred before
their time there and felt they had been fired to protect the
reputation and jobs of senior managers. Several have since told
Reuters they have had difficulty finding work because they had
been employed by News of the World.The National Union of Journalists has condemned the loss of
jobs and criticised the paper’s management.”The systemic abuse and corruption at the News of the World
came from the top of the operation,” NUJ General Secretary
Michelle Stanistreet said in a statement on Tuesday.”They have consistently tried to shield themselves from
blame and they are prepared to shove everyone else out the door
to save themselves. Putting scores of journalists on the dole
represents another crass attempt to draw a line under the
scandal.”
