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"ORG said DATE its pending acquisition of GPE's ORG, a MONEY deal that gives it access to the worldwide seed corn market, will dilute earnings for DATE.
In DATE, dilution could be MONEY $MONEY a share, ORG said, but cautioned the number could be lower than that due to pending accounting issues.
""But by DATE, this will be accretive even from an accounting standpoint,"" PERSON, chief economist for ORG, said in a telephone interview.  
Variables in determining the amount of earnings dilution include charges ORG may take in the future related to the PERSON's deal. Those charges may include write-offs of PERSON's in-process research and development, which would reduce the amount of ongoing amortization from the deal.
Based on ORG's benchmark of measuring itself on an ""economic value added"" (EVA) basis, the acquisition is positive for the company, ORG added.
""We are willing to accept some near-term dilution in (earnings per share) from an accounting standpoint if in fact we are creating value in a net added value sense,"" he said.  
EVA is derived by taking net income and subtracting a charge for the capital used to generate that income, ORG said in its DATE DATE report.
Earlier, ORG said it will buy PERSON's,  Corn States Hybrid Service Inc and  Corn States International for MONEY.
Filippello said ORG will pay MONEY for ORG's, which produces corn germplasm used by seed companies to create hybrid seeds. It will pay MONEY for Corn States and Corn States International, which are the exclusive worldwide marketing and sales representatives for PERSON's.  
Both prices may later be reduced, ORG added.
Analysts said ORG's acquisition of PERSON's, which had been expected, is also a defensive move to block its competitors from gaining access to the seed company.
ORG analyst PERSON said he considers the planned acquisition of PERSON's and Corn States ""a strategic positive"".
By buying PERSON's, ORG gains an outlet for its genetic developments. Simply put, ORG can implant the genes it develops in the germplasm -- or parent seeds -- produced by PERSON's.
ORG said PERCENT of QUANTITY of corn planted in GPE use genetic material developed by PERSON's.
Filippello said ORG acquisition also gives ORG access to QUANTITY of corn worldwide.
The other positive for ORG is the ability to sell more of its flagship ORG herbicide to farmers who plant genetically-enhanced seeds from PERSON's. ORG has developed a gene that makes crops, like corn, resistant to use of its ORG herbicide to kill weeds in the field.","The DATE boy chosen by GPE as GPE's ORDINAL holiest monk attended a ritual in GPE DATE to celebrate the ORDINAL anniversary of his enthronement, major NORP newspapers said on DATE.
Monks pounded drums, rang bells and chanted NORP scriptures as GPE's choice as the reincarnation of the ORG visited ORG -- the Temple of Harmony and Peace, on DATE, the newspapers said, quoting a report by the official ORG.
ORG gave no reason for the delay in reporting the celebrations which were held DATE before the actual anniversary on DATE.
GPE's exiled god-king, the Dalai Lama, has named another boy as the reincarnation of the ORDINAL EVENT, the NORP region's ORDINAL holiest monk who died in DATE.
Many NORP see the NORP-sanctioned child, PERSON, as a pretender.
State media has given GPE's choice much publicity in an apparent bid to convince NORP that he is the real reincarnation.
Major NORP newspapers on DATE ran a picture of the child wearing traditional robes and a cap and surrounded by monks as he toured ORG which was built in DATE.
The boy blessed believers and preached from the seat reserved for the ORDINAL EVENT before his death.
NORP sources have said GPE's choice currently lives in the NORP capital under state protection against any possible assassination attempts by radical NORP.
Western human rights groups have accused GPE of detaining the boy recognised by the Dalai Lama and persecuting monks and nuns who refused to accept GPE's choice.
The GPE-based human rights watchdog ORG said DATE a DATE NORP nun had her jail term doubled to DATE for refusing to recognise GPE's choice.
GPE denies the accusations, saying the Dalai Lama's choice is ""leading a free life, just like other NORP children"".
But GPE has refused to reveal the whereabouts of the Dalai Lama's choice or allow diplomats or foreign reporters to meet the boy.
GPE has lashed out at the exiled NORP leader, quoting the boy it anointed as the Panchen Lama as saying the Dalai Lama was the cause of turmoil in the region.
The Dalai Lama fled his homeland along with CARDINAL of followers in DATE after an abortive uprising against communist rule. He heads a government-in-exile, which is not recognised by any country, in the NORP town of GPE.
The Dalai Lama won WORK_OF_ART in DATE for his non-violent campaign for autonomy for his homeland, but GPE views international support for GPE's holiest man as a Western plot to split GPE and contain its development.",0
"ORG, fresh from its demerger from ORG in DATE, said on DATE it was capable of cutting back debt levels and investing in further export growth as a dual policy.
PERSON, chief executive, told ORG in an interview that the CARDINAL could be achieved ""in parallel"" because of the group's strong cash generation.
In particular, PERSON said ORG was in talks with a NORP company about entering the NORP market for the ORDINAL time. He also said the group would keep open the option of a share buyback in the future.
ORG inherited MONEY (MONEY) of debt as its legacy from the ORG family break-up. But PERSON said this did not hamper the group's plans to seek distribution deals or joint ventures in the overseas cigarette markets and possibly examine small acquisition deals in the fragmented cigar market.
He added that, if an important larger-sized acquisition opportunity arose, he would be prepared to raise debt levels, but for the moment ""the priority is to get it down. Our situation, our ability to generate cash means we can do things in parallel - pay down debt and pay for acquisitions...PERSON-on acquisitions are more likely in the cigar area"", he added.
On the NORP market in particular, PERSON told ORG ""We are looking to do something in GPE. We are actively considering this. In CARDINAL way or another we will establish a presence in that market,"" admitting that talks were under way with one party.
But he sought to reassure shareholders that ORG would not squander its sound financial inheritance in its bid to catch up in the overseas field. ""In our international expansion plans I would not dream of being a balance sheet wrecker,"" he said. If ORG failed to find the right deals, it would be prepared to conside other options to return value, he said.
If a possible acquisition fails to offer sufficient rates of return ""we would say: what would a share buyback do to enhance shareholder value, rather than a potential acquisition?""
""A buyback is something we'd never rule out. Given our cash flow characteristics people tend to say ""What are you going to do with all that cash.'""
ORG reports its ORDINAL set of results since the ORG demerger on DATE when it will give a trading update of DATE since its split.
PERSON said he expected the NORP market to continue to decline at PERCENT DATE.
But the international business, accounting for PERCENT of profits in DATE, is expected to show continued rapid growth.
""I would be very disappointed if it wasn't PERCENT by DATE."" DATE have seen overseas sales double, but PERSON drew the line at hitting his target by DATE.
""That would be overstating it (our confidence). But the signs are the business is showing strong growth.""
Despite his caution, PERSON has said that the company has already clinched a deal with unions to add a ORDINAL shift from DATE which has the potential to raise capacity at its ORG factory  by CARDINAL.
ORG says if a number of overseas deals start feeding through it will be ready to meet the surge in demand.
The ORDINAL shift could, in theory, raise ORG's total cigarette production to CARDINAL from the existing MONEY. ($MONEY Pound)","Lower profits from base metals producers are clouding the otherwise improving corporate earnings picture for NORP companies in DATE, analysts said.
Richardson Greenshields of Canada analyst PERSON forecast ""very substantial declines in earnings"" for major base metal firms.
""I think almost everywhere else you're going to see improvements year-over-year,"" Best said.  
GPE's DATE earnings season kicks off when Alcan Aluminium Ltd reports on DATE.
Best said he expected NORP DATE earnings to fall to US$MONEY a share DATE US$MONEY a share, which came before an extraordinary loss of MONEY a share for an asset writedown.
""There's some concerns that the metal group may not exactly report the (expected) numbers,"" PERSON analyst PERSON said.  
Companies such as ORG, ORG and ORG would likely see earnings declines, ORG said. A likely exception was ORG, which PERSON said ""has a lot of coal in its production lineup and coal's been strong, so that will be the one offset.""
Investors had anticipated disappointments, causing metal stock prices to slide after DATE earnings were hit by a drop in copper, nickel and other prices.  
Markets were rocked in DATE by the news that ORG fired its head copper trader after he allegedly ran up a MONEY loss.
Analysts forecast that GPE's major banks would lead the pack in earnings gains. The banks are expected to report their results for DATE in DATE.
""They'll have DATE year-over-year comparison. I think quarter-over-quarter won't be quite as good,"" said ORG vice-president of equities PERSON.  
The CARDINAL big banks, including ORG and ORG, have posted a string of record profits in DATE.
Best said PERSON had increased earnings estimates for ORG six times so far DATE.
Consumer products earnings will also rise, analysts said.
Another strong area will be GPE's important gold sector, which was buoyed by firmer bullion prices.
Earnings at energy firms will be fueled by higher crude oil prices, analysts said.  
Retail firms will benefit from recent cuts in short-term interest rates by GPE's central bank, spurring consumers to borrow and shop. ""Bit by bit the underpinnings are being put in place for a more confident consumer that would eventually lead to better times,"" PERSON said.
Some high-technology firms have said they would report losses in DATE, including ORG and ORG, due to problems getting their products to market.  
Technology heavyweights such as ORG and ORG will see higher earnings, ORG said.
-- ORG PRODUCT",0
"GPE's ORG is confident of avoiding any takeover attempts once it sheds its mutual status and becomes a publicly quoted bank in DATE, a senior official said on DATE.
""We think we can stand on our own feet,"" PERSON, ORG's director of corporate affairs said in a telephone interview following the announcement of the timetable for the planned conversion and CARDINAL stg flotation.
The building society's CARDINAL members -- its savers and borrowers -- will vote on the conversion DATE.  
ORG said the building society's decision to convert by transferring its business to an existing subsidiary rather than to a company specially formed for conversion meant it would lose a DATE protection against takeover.
It will also increase the voting threshold needed to give the plans the go-ahead. But he was confident that it would achieve a sufficiently high vote in favour, of PERCENT of all investing members entitled to vote.
""We have no real concerns as far as the voting is concerned,"" he said, adding that previous building society conversions achieved approvals of PERCENT.  
""It will be a high-profile exercise, backed up by plenty of marketing,"" ORG said.
Earlier, the ORG said its members would be given full details of the conversion plans and share distribution scheme in DATE. This will tell them the number of shares they are entitled to receive and an indication of their likely price range, based on prevailing market conditions at the time.
Gilchrist said members would get a ""broad idea"" at this time, but would not be drawn on what the share hand-out was likely to be worth to the average investor.  
He also declined to comment on what the cost of the conversion exercise would be, saying only that a significant element would be printing and postage costs.
""The major element of cost is printing and mailing. We will be sending CARDINAL items of mail,"" he said.
Halifax members will be urged to vote ""as quickly as possible"" on the proposals and a special general meeting will be held in GPE in DATE. If members vote in favour, they will be sent details of share allocations in DATE or May.
ORG said the ORG had not yet done any market research on how many members would sell or retain shares.  
""We are not trying to persuade people one way or another whether to hold shares or to sell the shares,"" he said, adding the ORG would sound out members nearer the time.
But it was working on the basis that a ""large number"" would have already planned to spend their windfall and had set up a share dealing system to ensure an orderly market for what will be the largest single extension of private share ownership ever in GPE, ORG added.
Those who decide to sell will be offered a free-of-charge postal service for a limited period while those who keep them can chose between placing them in a nominee company or receiving a share certificate. The ORG favours the nominee option.
The society will remind its members that they should have CARDINAL stg in total in their accounts on DATE.
If eligible for a variable distribution of extra free shares they ""may need to top up their share accounts to the DATE level by the date of the special general meeting"" to qualify for the maximum number of free shares, the ORG said.
-- GPE PRODUCT +44 CARDINAL 7717","ORG share price rose to record levels DATE despite a warning by the software giant of slowing growth in DATE.
ORG, which reported ""blowout"" DATE results on DATE, closed at $MONEY, up $MONEY, and sparked a broad rally on ORG, where it was the most active issue, with CARDINAL shares changing hands.
After the market closed DATE,the company reported DATE earnings equal to MONEY a share, up from MONEY DATE and easily surpassing a consensus estimate of MONEY.
""They had a great quarter,"" said PERSON of ORGamp; GPE. ""(And) the outlook for DATE looks very good; they said so themselves -- uncharacteristically.""
More characteristic were comments by ORG executives in the earnings statement and a conference call with analysts afterward; they warned of a slowdown in growth in DATE, which begins DATE.
ORG Chief Financial Officer PERSON even went so far as to question the high valuation of the company's stock.
In a comment worthy of ORG Chairman PERSON, PERSON said ORG's high price-to-earnings multiple was a ""cause for curiosity.""
But while PERSON downgraded the stock to hold from buy, based on its PERCENT increase over DATE, few investors heeded the warning.
""They do that every year,"" ORG said, referring to ORG's conservative forecasts. ""It's a bit like the boy who cried wolf. People are just not believing it.""
Most analysts who follow ORG raised their earnings estimates for the company.
First Call, which tracks estimates, said a consensus of CARDINAL analysts was that the GPE, Wash.-based company would earn $MONEY a share for DATE, ending DATE, up from a previous consensus was $MONEY. The company earned $MONEY a share in DATE.
For DATE, analysts see the company earning $MONEY a share, up from a previous consensus of $MONEY.
Analysts say DATE will be DATE of tough comparisons for ORG after the DATE introduction of the Windows CARDINAL operating system, DATE upgrade of EVENT and this DATE's launch of the Office CARDINAL application upgrade.
While ORG plans an upgrade to Windows 95 more tightly integrated with its Internet browser, it is unlikely to derive the benefits of another price increase or significant further operating cost reductions, analysts said.
""I think that ORG does have a lot of hurdles to get over,"" said PERSON of ORG, who calls the stock ""fairly valued"" at its current level of CARDINAL times DATE earnings.
But analyst PERSON of Ragen ORG said investors are happy to pay a premium for a company that dominates one of the biggest growth industries and consistently surpasses Wall Street expectations.
""They've delivered consistent earnings, and Wall Street hates ugly surprises,"" he said.
PERSON of ORG said ORG would like to slow the meteoric rise in its stock price, if only to meet the challenge of providing enough shares to fulfil employee stock options.
""Yet it's difficult, with such a compelling long-term growth story, to keep a great stock down,"" he said.",0
"ORG said DATE its directors will unanimously recommend that shareholders reject a bid by ORGamp; ORG to gain control of the computer services company's board.
ORG, which holds PERCENT of PERSON's outstanding shares, has proposed CARDINAL candidates as directors for the Lisle, Ill.-based company, as well as a special committee to explore ways to maximize shareholder value.
It seeks to remove PERSON's poison pill takeover defence, which requires an PERCENT vote to approve certain mergers.
ORG filed the proposals with ORG after ORG, a huge NORP business forms manufacturer, abandoned a DATE campaign to acquire ORG in a MONEY deal in DATE.
Wallace's board said in a letter to ORG that it will recommend that its shareholders vote against the proposals at their DATE meeting on DATE, as they are not in the best interests of them or the company.
Wallace said it was aware that ORG tried to contact the CARDINAL PERSON directors who were nominated by former suitor PRODUCT at DATE DATE meeting.
""You should be under no illusion that you or your purported director nominees have CARDINAL allies on the PERSON board. We want to emphasise that we are unanimous in opposing your actions,"" the letter said.
PERSON, president of ORG, responded that he would continue to push his proposals.
He said although ORG had increased its dividend substantially and reported higher-than-expected earnings DATE, the stock was only up slightly. Wallace rose MONEY to close at $MONEY on ORG.
""They're not delivering value to shareholders,"" he said.
ORG said its profits jumped to MONEY, or MONEY a share, in DATE, from MONEY, or MONEY a share, in the DATE period. Sales rose PERCENT to MONEY from MONEY.
Factoring in the company's stock split, the stock is trading at MONEY, compared with ORG's offer DATE of $MONEY, ORG said.
""It's been DATE and nothing has happened with the stock,"" he said.
However, analysts said that strong business fundamentals and a presumed change in ORG's shareholder profile should protect it from ORG proposals.
Many arbitrageurs likely sold their ORG stock after ORG abandoned its DATE takeover campaign, resulting in more shareholders interested in long-term gains, analysts said.","Global media group ORG must report a sharply higher DATE profit on DATE or it will fail to achieve its PERCENT growth target for DATE, analysts said.
ORG is expected to report DATE net profit before abnormals of MONEY (MONEY) and MONEY, taking ORDINAL half net profits to MONEY.
This compares with MONEY in DATE and would be up PERCENT from the MONEY posted in DATE of CARDINAL.
Analysts said strong receipts from the box-office hit alien movie ""EVENT"" and firm GPE television revenue would be the driving factors in the stronger result.
They said the market was demanding News put out a strong second quarter figure after a series of below-expectation results.
The analysts said the extent of any fall in the price of ORG shares would depend on how far earnings fell short of expectations but they did not quantify any expected drop.  
News' first half must be around 15 to 20 percent better if PERSON group is to achieve its DATE forecast of a PERCENT improvement in profits in CARDINAL from the MONEY achieved in CARDINAL.
""They are going to have to get a move on in DATE if they're going to achieve that PERCENT,"" said CARDINAL senior analyst on DATE.
""If they can't get a decent rise for DATE, people are going to panic,"" the analyst told ORG.
Analysts said they expected revenues from NORP newspapers and magazines and the PERSON airline operation to remain weak in DATE.
ORG analyst PERSON said he expected ""EVENT"" revenues to be the major factor in the stronger result.
""Television is also CARDINAL area where there's room for some upside,"" ORG said. He is forecasting MONEY for DATE.
Analysts also said a good result was likely because News was due to give a big presentation to analysts and investors on DATE in GPE and would be reluctant to disappoint them before that.  
""That's got everyone believing that they won't have a bad result,"" ORG said.
The market would also watch the results commentary closely for a repeat of the PERCENT growth forecast.
Executive chairman and founder PERSON repeated the forecast in DATE at the group's DATE meeting in Adelaide. But analysts said company officials had been reluctant to repeat the forecast since then.  
ORG shares ended MONEY higher at A$MONEY on DATE
(A$MONEY=US$0.76)",0
"NORP paper concern ORG a.s. on DATE said its DATE net profit fell as a shutdown of its main paper mill, coupled with a downturn in the paper cycle bit into its bottom line.
Sepap said its DATE net profit, calculated according to international accounting standards, fell to CARDINAL crowns (MONEY) from CARDINAL over DATE, while revenues slumped to MONEY crowns from MONEY.
The firm said results from DATE only had stabilised after a ORDINAL CARDINAL industry downtrend, though ""the planned annual shutdown of the GPE mill lowered earnings by virtue of the expected higher maintenance costs associated with the stoppage"".
""Overall, Sepap DATE earnings are expected to rise and show a slight improvement over DATE levels,"" a company statement said.
The GPE mill, which accounts for CARDINAL of the group's revenues and profits, saw its pre-tax profits plummet to CARDINAL crowns.
Comparative figures were not immediately available, but the mill's DATE gross profit was CARDINAL crowns.
""The market place is sending mixed signals for DATE. Anticipated price increases have not taken hold at the anticipated levels in all of the pulp and paper grades,"" the statement said.
It added that the group's ORDINAL biggest subsidiary, newsprint maker ROTO, ""continued to produce good results in a market that is weakening"".
ROTO showed a DATE pre-tax profit of CARDINAL crowns on sales of CARDINAL crowns.
DATE, ORG was the centre of a heated battle for control between GPE-based investor PERSON and NORP forestry concern NORP.
PERSON, who controls PERCENT of Sepap through his Daventree Ltd investment company, won the battle, but later accepted ORG's role as a strategic partner in the paper industry. The NORP firm holds a PERCENT stake in ORG.
-- Prague PRODUCT, CARDINAL-2-2423-0003 ($ = CARDINAL PERSON)","The CARDINAL-party coalition of right-wing NORP Prime Minister PERSON won a majority of seats on DATE in run-off elections to parliament's new upper house, the ORG.
But the premier's own party won fewer seats than expected after dominating the ORDINAL round DATE and voter turnout was dismal despite an appeal for NORP to cast their ballots from President PERSON.
With all CARDINAL constituencies declared, the coalition parties secured CARDINAL seats in the ORG, the very existence of which many Czechs have questioned.
The result marked a turnaround for the coalition, central LOC's last centre-right government, which lost its majority in the more powerful lower house, ORG, DATE.
ORG's own ORG (ORG) won CARDINAL seats ahead of the strongest opposition party, the NORP, with CARDINAL.
The NORP NORP, a junior coalition partner, took take CARDINAL seats while the ORDINAL party in the government, ORG, won CARDINAL.
The little-reformed NORP clinched CARDINAL seats and CARDINAL went to independents.
""I welcome the fact that the governing coalition took CARDINAL of the senatorial seats, and that's a huge victory over the opposition,"" said ORG, who sits in the lower house along with all other government ministers.
""The result in the ORDINAL round isn't any surprising victory, but on the other hand the real fact that ODS has PERCENT of the senators I would have to mark as successful.""
ORG reported that ORDINAL round turnout was PERCENT, lower even than PERCENT registered in the ORDINAL round held on DATE.
The centre-left NORP, whose strong gains in DATE lower house elections stripped the coalition's majority, were saved the embarassment of a ORG dominated solely by their arch-rivals from ORG's party.
""I am pleased that ORG will be a place of democratic discussion, and never the place of arrogant domination of CARDINAL or another political party,"" PERSON, the chairman of the NORP and the lower house, told reporters.
Zeman's party has been beset by internal bickering since DATE, but the results of the run-offs -- between the top CARDINAL ORDINAL-round candidates in constituencies where nobody won CARDINAL the vote -- could have been worse for the opposition.
""Most importantly the ORG won't be CARDINAL-coloured or CARDINAL-coloured as was expected, but multi-coloured,"" said analyst PERSON of GPE's ORG.
Before the ORDINAL round, ORG appealed to NORP to turn out in far greater numbers for the sake of the credibility of the new upper house but opinion surveys showed many had no interest.
The ORG elections had been billed as key to the future of ORG's coalition. But analysts say that with turnout so low, the ORG results have little significance.
Klaus, an architect of economic reform, repeatedly accused the NORP of conspiring with the NORP to turn back the clock on reform, and his supporters were galvanised by the coalition's DATE setback.",1
"NORP pub to hotels group ORG should report a near PERCENT rise in DATE profits on DATE as its acquisition of ORG feeds through into its managed pub estate, analysts said.
Analysts' forecasts for pretax profits in DATE range from MONEY stg excluding DATE stg for the cost of reorganising ORG's, up from CARDINAL last time. Dividend forecasts are centred on a total payout of DATE.  
The acquisition of GPE for CARDINAL stg in DATE added CARDINAL pubs to the group's portfolio and made ORG the largest independent retail pub chain with CARDINAL outlets. CARDINAL former ORG's managed pubs were absorbed into ORG.
At the time of the acquisition ORG identified CARDINAL stg of cost savings from closing ORG's offices and wholesale depots.
However, confusion remains among analysts about how former ORG assets have been absorbed.  
Trading profits from its managed pubs are anticipated to be up PERCENT at CARDINAL stg, driven by the inclusion of the FAC estate for DATE.
Profits from its hotel and restaurants division should grow PERCENT to CARDINAL. The company announced the long-awaited sale of its CARDINAL hotels in GPE on DATE for CARDINAL stg in cash with a loss on the disposal of CARDINAL.
""It's definitely a welcome sight to see. Those hotels have rarely been in profit over DATE,"" said CARDINAL analyst who declined to be named.  
The division also includes ORG, PERSON -- acquired from GPE -- and the branded Premier ORG pub restaurants.
Earnings from the group's tenanted pubs and wholesaling are likely to be up PERCENT at CARDINAL. At DATE, ORG comprised CARDINAL tenanted houses including CARDINAL former ORG tenanted pubs.
This division also includes CARDINAL off-licenses and a distillery.
Analysts envisage an interest charge of CARDINAL.  
Investors and analysts are keen to hear how the brands acquired from ORG's are fitting in.
""There are a number of retail brands in this vastly enlarged group and it would be interesting to see which ones it considers to be really important for the future, "" said PERSON, analyst at ORG.
Greenalls shares were off CARDINAL at CARDINAL on DATE at 1100 ORG, well off their ORG year high. The company improved operating margin to PERCENT in DATE from PERCENT DATE.  
Its return on equity rose to PERCENT from CARDINAL over DATE, compared with PERCENT for ORG.
A ORG poll of CARDINAL brokers produced a consensus estimate ORG for DATE of CARDINAL rising to CARDINAL in DATE.
-- GPE PRODUCT +44 CARDINAL 6437","NORP tobacco and insurance conglomerate ORG can expect more tough questions about GPE litigation when it reports DATE results on DATE as scientific evidence continues to mount that smoking and lung cancer are linked.
""It should be another set of solid results but they are nowadays rather secondary to litigation developments which are critical to the company's future growth prospects,"" said PERSON, analyst at ORG.
ORG shares appear increasingly vulnerable to this issue.  
The growing pace of litigation claims against ORG's GPE tobacco subsidiary ORGamp; PERSON, and the GPE industry in general, recently led credit rating agency ORGamp; Poor's to revise down its outlook for the company to negative.
Meanwhile, analysts expect ORG's pretax profits DATE to range from MONEY stg, slightly firmer than the CARDINAL stg last time.
No exceptional items are anticipated and the company pays a dividend only at the half- and DATE stage.
Paradoxically, underlying strength and growth in tobacco is likely to offset a mixed performance from financial services.  
While the group's main life and pension firms ORG, ORG overseas and ORG should report higher sales, ORG general insurance business is widely forecast to suffer further from a cyclical downturn.
Analysts expect ORG's tobacco sales to emerging markets to remain strong, with continued growth in LOC.
Pretax profits for DATE, estimated to top MONEY, will include CARDINAL of exceptional gains on sale of CARDINAL subsidiary businesses in DATE.
Further ahead, a consensus forecast for DATE earnings per share is CARDINAL, rising to 53.40p for DATE.  
However, despite the prospect of firmer earnings and a strong performance by the GPE stock market in DATE, ORG shares have generally weakened.
They have fallen from a high of CARDINAL on DATE to 434p on DATE, shedding MONEY from the company's total stockmarket value along the way.
The main damage has been done by constant pressure on both ORG and its big GPE rival ORG from a stream of upsets and shifts in the progress of GPE litigation.
The trend has led some of its big GPE shareholders to call for a demerger of ORG's CARDINAL component businesses.  
Analysts are sceptical on the whole about the possibility of demerger, despite the tactic's popularity among other diversified groups with tobacco interests.
""I don't think a demerger is legally possible and I don't think management see it as in the group's interest. In fact it only makes sense to liley-livered GPE institutions who are obssessed with the GPE tobacco litigiation,"" said PERSON, analyst at ORG.
Some tobacco litigants also oppose demergers, claiming they would amount to ""false conveyance"" on the tobacco industry's ability to pay up if it were to lose a major court battle.  
Proponents, on the other hand, argue a demerger would separate GPE tobacco liabilities and enable the company to put its effort into selling cigarettes in LOC and other emerging markets.
The successful spin-off of ORG from the ORG group has added more fuel to their cause, along with ORG plan to spin off its GPE-based Gallaher tobacco operations some time DATE.
-- GPE PRODUCT +44 CARDINAL 6437",1
"Major retailers reported mixed results for DATE DATE, sparking a drop in retail stocks.
The preliminary holiday reports by ORG, ORG, ORGamp; Co. and others are ""further confirmation that DATE was CARDINAL of moderate growth,"" ORG retailing analyst PERSON said in an interview.
ORG said sales for DATE were close to the GPE, GPE-based company's goals but markdowns were higher than expected.
Total sales, including drug store sales, for the period totalled MONEY, a PERCENT increase from the MONEY in sales for the comparable period in DATE.
Same-store sales at ORG stores, not including drug stores, for DATE period increased PERCENT over DATE. The company did not release dollar figures for same-store sales, which cover stores open DATE.
The company also said it expected DATE earnings before charges would not meet Wall Street expectations and that profit margins for DATE were below planned levels.
ORG stock dropped $MONEY to $MONEY in TIME trading on ORG.
PERSON said same-store sales at its CARDINAL department stores in the LOC, CARDINAL Target discount stores nationwide and CARDINAL ORG's discount stores in the LOC and LOC were up PERCENT for DATE. The GPE-based company did not give dollar figures.
""Results at ORG and ORG's for DATE were on plan, while department stores sales were below our expectations,"" Chief Executive PERSON said in a statement. ""With the shorter selling DATE, we planned our sales conservatively and generally met our plans for the season.""
PERSON department store sales increased PERCENT, ORG's sales decreased PERCENT and ORG sales increased PERCENT, the company said.
PERSON stock fell $MONEY to $MONEY on the ORG.
PERSON reported a PERCENT increase in sales to MONEY for the DATE period vs. DATE. Same-store sales rose PERCENT.
""The sales results during DATE were in line with my expectations,"" Chairman PERSON said in a statement.
But the GPE-based company, which operates CARDINAL department stores and CARDINAL furniture stores, said it expects DATE sales results for DATE will fall slightly below those for the DATE period ended DATE.
PERSON and PERSON expect to report DATE results DATE.
PERSON stock dropped MONEY to $MONEY on the ORG. Among other retailers, ORGamp; Co. dropped $MONEY to $MONEY and ORG fell MONEY, both on the ORG.","Most GPE nursing home and hospital companies are expected to report higher profits in DATE on some easy comparisons, but Wall Street is wary of negative surprises.
""A lot of them are going against very weak results DATE so they have easy comparisons,"" said ORG industry analyst PERSON.
At the same time, NORP GPE analyst PERSON said, ""There's probably more potential for downside to earnings than upside ... There could be disappointments.""  
Pressing industry issues such as ORG and ORG reform and reimbursement rates for contract therapy services remain unresolved. ""Little progress has been made in GPE,"" said ORGamp; Stringfellow analyst PERSON.
The industry finished DATE on the upswing after a big DATE sell-off. ORG index of CARDINAL top hospital management and nursing home stocks was near CARDINAL DATE, up from FAC at DATE.
""We like the sector in general, although there are some issues that have dogged certain companies,"" ORG said.  
For instance, ORG and ORG, dragged down by various problems, have lagged the sector, she said.
Earnings at ORG are forecast to be barely improved from DATE after the company's acquisitions of ORG and ORG ""They've made a very bold bet on home healthcare ... Things at Integrated are getting a little better,"" Shipp said.  
ORG is expected to lead the for-profit hospital sector in earnings gains, with moderate increases projected for ORG and sector giant ORG
ORG CALL CONSENSUS QTRLY EARNINGS FORECASTS
Company			   PERSONEPS estimate  DATE ORG
Beverly Enterprises	    Q4	MONEY$0.10
ORG	$MONEY	  $ORGORGamp; Retirement     Q4	MONEY$ORG	$MONEY	  $0.14
Integrated Health		Q4	$MONEY	  $MONEY
PERSON	$MONEY	  $0.33
Tenet Healthcare		 CARDINAL	MONEY$0.33
PERSON	$MONEY	  $0.41
NOTE: PERSON figures exclude earning of ORG unit. PERSON and Tenet Q3's end in DATE.
((--Chicago Newsdesk 312-408-8787))",1
"Struggling to stay on course away from its troubled past, ORG now must find a new chief executive to take the helm of the troubled carrier.
How quickly it can find an experienced airline executive for the job will determine whether it stays on course or runs into more financial trouble, industry analysts said.
The GPE-based airline said on DATE that Chief Executive Officer PERSON, who has headed the company for DATE, will leave in DATE.
""The last thing that the company needs now is more management turmoil,"" said CARDINAL analyst, who declined to be identified. ""It doesn't have a strong or stable enough footing to deal with this kind of stuff.""
PERSON's departure comes DATE after Chief Financial Officer PERSON left the company. At the time, ORG said PERSON's decision to leave was over differences in management direction.
""They're going to have to regain the confidence of Wall Street,"" said PERSON, who follows the airline industry for ORGamp; Co., which is based in ORG's hometown. ""The only way they're going to do that is by coming up with a leader that's a proven turnaround (manager), or well-respected in the industry.""
PERSON, who became chief executive officer in DATE, brought the airline through a bankruptcy reorganization and back to where it was buying new aircraft. But the turnaround is not finished, and higher fuel costs and the DATE crash of flight CARDINAL, which hurt confidence in the carrier and therefore its sales, have stalled the company's improvement.
""PERSON was the one who really steered them through DATE of the turnaround, but they still have a way to go,"" PERSON said.
The company on DATE reported a MONEY DATE loss and said its yield, a measure of fares, fell in DATE.
Industry experts said ORG's board of directors might have become impatient with the pace of the turnaround after seeing the DATE results. But they also quickly defended PERSON's record at the company.
""When you see what ORG was DATE and what it is now, it's a world of difference,"" said PERSON, president of ORG, a research and consulting firm  in GPE, GPE
""I do not see anything you can ascribe to PERSON that occurred in DATE. I don't see any decision made by PERSON that messed up the airline.""
Calls to PERSON at ORG's offices DATE were transferred to a public relations office, which said he was unavailable for comment. ORG Chairman PERSON did not return telephone calls.
Analysts said ORG's board would need to move quickly and that the next chief executive would need a good degree of independence from the board.
""Whatever they do to replace PERSON, they need a hands-on manager, not a messiah,"" the consultant PERSON said. ""In a situation like this, you have to have free reign. You can't have people behind you ORDINAL-guessing every one of your moves.""
PERSON said several managers at ORG might be interested in the job. He also suggested that former ORG Chief Executive PERSON could be a candidate.
DATE, PERSON, who was criticised by families of the flight 800 victims for the company's response to the crash, told students at ORG in GPE that the aftermath of the crash was draining, said PERSON, dean of the university's business school.
""I can't help believing the crash just took a lot out of PERSON,"" said PERSON, who said he is a friend of PERSON's. ""That was so difficult for him, as it would be for any human being, to try to represent the company to the world"" after the tragedy, in which CARDINAL died.","ORG DATE said earnings jumped PERCENT in DATE, boosted by strong sales and improved profit margins during DATE.
""We ended DATE with excellent DATE results, which are even more impressive given the strength of DATE,"" ORG Chairman PERSON said in a statement.
DATE included the company's ORDINAL ever back-to-back MONEY sales DATE, he said. DATE is crucial for retailers since store chains typically earn CARDINAL or more of their DATE profit during the period.
""They had a great DATE capped off by DATE of any department store operator,"" said PERSON, analyst at ORG He noted that ORG' sales at comparable stores rose PERCENT in DATE.
The nation's ORDINAL-largest retailer said earnings rose to MONEY, or $MONEY a share, in DATE, from MONEY,  or $MONEY a share, in the DATE period. Sales grew PERCENT to MONEY from MONEY.
The earnings beat Wall Street forecasts that averaged $MONEY a share, according to ORG, which tracks estimates.
But ORG' stock fell MONEY on ORG, mostly on profit-taking.
""The stock was up strongly early in DATE and I think people are just taking profits,"" PERSON said.
Analysts said ORG gained from its decision to remodel some stores and expand its clothing offerings.
""Clearly they're gaining market share and clearly they're doing the right thing and the consumer likes what she sees when she goes into the store,"" said PERSON, analyst at the S&P Equity Group.
Operating income from domestic operations rose PERCENT to MONEY in DATE as revenue rose PERCENT to MONEY. Comparable-store sales rose PERCENT for DATE.
Operating income from domestic operations for all of DATE rose PERCENT to MONEY, while revenues increased PERCENT to MONEY.
Gross margins as a percent of merchandise sales rose to PERCENT from PERCENT in DATE period.
PERSON said margins were not likely to rise as much in DATE as in DATE, but said cost-cutting should drive earnings growth DATE.
He forecast earnings at $MONEY a share in DATE and $MONEY a share in DATE, up from $MONEY a share in DATE.
International operations, including merchandising and credit operations in GPE and GPE, earned MONEY in DATE, compared with a loss of MONEY in DATE period.
The increase in earnings was largely attributable to improved performance at both ORG and PERSON, lower selling and administrative expenses at FAC, and writeoffs of ORG properties in DATE, it said.
ORG, based in GPE, GPE, operates CARDINAL department stores and CARDINAL other stores offering clothing, home and automotive products and services.
While earnings rose in DATE, they fell for DATE, in part because DATE included a gain of MONEY from the former ORG subsidiary, which was spun off to ORG' shareholders in DATE.
For all of DATE, ORG earned MONEY, or $MONEY a share, in net profits, down from MONEY, or $MONEY a share, in DATE. Sales grew PERCENT to MONEY from MONEY.",1
"Long before GPE handover to GPE, celebrity painter PERSON, whose portrait subjects include GPE's leaders, is already benefiting from the return of GPE's last NORP outpost to the NORP fold.
Spanning an entire wall in his home in GPE posh Mid-levels district is an almost finished oil painting depicting CARDINAL famous personalities at a feast celebrating the handover at DATE.
Central on the canvas is GPE's paramount leader PERSON, the man hailed as the architect of the ""CARDINAL country, CARDINAL systems"" formula under which GPE would be treated after the handover.
Raising a toast, PERSON is flanked by President PERSON, Premier PERSON and PERSON, the man who will run GPE after GPE hands back its colony of DATE.
""I am using art to capture this momentous event that is watched by all nations of the world,"" PERSON, reclining on a sofa, told ORG during an interview.
ORGTrained at ORG in GPE, PERSON shot to fame in DATE when he sold ""PERSON"" (WORK_OF_ART) -- a flashback to a historic gathering of GPE's leaders in DATE -- for HK$8.36 million (MONEY).
It was the highest price paid for a contemporary NORP work of art, and he has been hitting jackpots ever since.
He sold ""WORK_OF_ART"" for CARDINAL in DATE and WORK_OF_ART"" for CARDINAL in DATE.
THE HONGKONG CONNECTION
Whether because of his talent, access to high places or being in the right place at the right time, PERSON has penetrated the ranks of the rich and influential since coming to GPE in DATE.
PERSON, whose entire family lived on his DATE wage of MONEY (US$MONEY) in DATE, has done portraits of GPE business titans such as PERSON, PERSON, PERSON, PERSON and PERSON.
Mindful of the handover DATE away, GPE rich and pragmatic have been embracing their mainland peers, be they politicians, businessmen or artists, and are stocking up their homes with NORP art and antiques.
But the well-connected PERSON, who drew Tung into his work on the handover DATE before the tycoon was even selected as GPE ORDINAL colonial leader, betrayed little when asked what sparked the insight.
""I just thought he was the likeliest candidate,"" he chuckled before adding that the CARDINAL empty headslots would be drawn in after Tung announces his team-designate.
SUCCESS DIDN'T COME EASY
PERSON's real break came in DATE when ""WORK_OF_ART"" was exibited in FAC of the late NORP leader PERSON.
It prompted a request from GPE for PERSON to create another work. The resulting ""WORK_OF_ART"" or WORK_OF_ART"" has adorned GPE's FAC since DATE.
But all this did not come easy for the artist who was sent off to toil in a rural commune during the ultra-leftist years of the Mao-inspired Cultural Revolution (DATE).
""I suffered tremendous shock, persecution. They said I was a 'black' artist, that I did not conform politically,"" PERSON said.
""DATE. DATE I lost time to practise my art. I only came back in DATE, then I painted again,"" he said.
CULTURAL REVOLUTION HARDSHIPS PROVIDED INSPIRATION
Ironically, it was those years of persecution and aimless toil that inspired ""PERSON"", his ORDINAL work after the end of the revolution, and a piece which would take him till DATE.
""After EVENT, I wanted to say many things which had been locked in my heart. I saw all the chaos and fighting. I was very depressed and I suffered a lot,"" PERSON said.
""I knew this can never be repeated. I wished that it would be 'liang xiao' every night. That every night would be wonderful and whole for the country. That was what I wanted to say.""
Things have looked up since for PERSON, whose works echo the leanings of socialist realism, a creed that was hammered into intellectuals and artists during DATE.
Snubbing the formulaic mountains, valleys, bamboo trees and the miniature people of lofty NORP landscape art, PERSON said: ""These works have lasted for too long in GPE. From ORG onwards, too many, too many.
""Under my hand, my pursuit is different...that of entry into the world, not retreat. To immerse into this world,"" he said.
FELLOW ARTISTS AND CRITICS LESS KIND
While PERSON's talent as a portrait painter is admired, the material success that his brushes have brought more than just raised eyebrows from those in his trade.
Gallery owner PERSON, who helped sell ""WORK_OF_ART the Goddess Nu Wa"", said: ""He's a very good portrait painter, and has very good connections in GPE...but the artists hate him, they think he is just political and very commercial.
""I think he's a very clever guy, he's a very smart guy. He knows how to make money and he knows how to handle the rich. He knows how to get them to pay up big time,"" PERSON told ORG. (US$MONEY = HK$7.73)","PERSON on DATE reported that ORG had performed below expectations in DATE, but he said the global media group was still on track for a PERCENT profit rise DATE.
PERSON, the chairman and chief executive of ORG, also unveiled a more conservative approach to financing new acquisitions.
""I am on record as saying that we expect a PERCENT increase in profit for DATE,"" PERSON told a packed ORG DATE meeting in Adelaide.
""We still expect that and are still aiming for that during DATE. However, I should say that DATE may not be quite up to those expectatations, but we will certainly be striving to make up any shortfall,"" PERSON said.
Analysts viewed the comments as disappointing and said they were now more sceptical about the PERCENT profit pledge.
""If they can't meet expectations in DATE, when they have those strong revenues from EVENT, then what hope do they have of getting PERCENT in DATE?"" asked CARDINAL GPE-based media analyst referring to a hit GPE movie made by ORG ORG studio.
Traders on the NORP share market did not like DATE comment either, selling the shares MONEY or PERCENT lower to close at A$MONEY, while the broader NORP equity market closed at a new record high.
In DATE, ORG net profit slipped to MONEY (MONEY) from MONEY in DATE.
PERSON said revenues at the ORG GPE television business had begun CARDINAL slowly because of of EVENT, the rights to which were held by a rival network.
NORP newspaper revenues would be flat in CARDINAL, said PERSON.
But he remained buoyant about News' NORP operations, saying the advertising market there was booming and the partly-owned BSkyB pay television operators was growing strongly.
PERSON then unveiled a more cautious strategy for financing future expansion.
""As far as possible, we will finance them (News' expansion plans) out of current cash flow to maintain liquidity so that we will be ready to take new opportunities as they arise,"" he said.
News has often funded its aggressive growth in pay television and other media through either hefty debt or equity issues, which have sometimes met shareholder resistance. It almost collapsed under a debt mountain in DATE.
Analysts said the comments indicated a more conservative approach towards acquisitions and their financing and would be welcomed by the market.
""It imposes a huge financial discipline on the company which would hearten people immensely,"" said another analyst.
PERSON also announced that News planned to float its NORP-based digital media technology company, ORG, within DATE and would sell PERCENT of the company.
ORG, a combination of ORG, would operate in GPE and GPE and produce technology for digital television.
ORG traditionally holds its DATE meetings here in Adelaide, the LOC city where PERSON father PERSON founded the beginnings of the ORG empire.
(A$MONEY = $MONEY)",0
"Freed from its slow-growing data storage and imaging businesses, ORGamp; ORG showed on DATE it can excite Wall Street.
The St. Paul, Minn.-based manufacturing giant -- sometimes seen as a mirror of the GPE economy -- posted strong DATE sales and earnings growth versus DATE results.
Shares in PERCENT jumped CARDINAL to CARDINAL on the strength of an earnings report that exceeded analysts' estimates. ""It's been a long time since 3M beat any kind of estimate,"" said ORG analyst PERSON.  
""A lot of people were questioning whether this company could grow again,"" NORP said.
CARDINALM served notice that it can with DATE sales up PERCENT and profits up PERCENT, analysts said.
""Now that they've spun off Imation, which was taking up too much of their resources and adding to earnings volatility, this is the 3M that most people expect when they invest in it,"" said PERSON analyst PERSON.
On DATE, 3M's data storage and imaging businesses began operations as an independent company, ORG DATE just ended is 3M's ORDINAL since the spinoff.  
""They're not held back anymore by that business that's now called Imation,"" said ORG analyst PERSON.
After reporting DATE profits of MONEY, or $MONEY per share, on sales of MONEY, PERCENT said it expects solid growth again in DATE.
If it can deliver successive quarters of big gains, PERCENT could move out of the realm of value stock funds and draw the attention again of growth stock investors, analysts said.
""CARDINALM is a little different from most companies ... They're WORK_OF_ART oriented so there's a lot of intellectual types up there, but they're building a powerhouse,"" NORP said.  
CARDINALM makes CARDINAL of products -- from NORP tape, Post-it notes and air filters to diaper closures, flexible computer circuits and kitchen sponges.
""It can be said that their domestic business is something of an indicator of the economy as a whole because it's so diverse,"" ORG said.
That is less true since the Imation spin-off. There are key sectors of the GPE economy absent from CARDINALM's product line. And CARDINAL its business is outside GPE.
Still, said NORP, ""You can probably take GPE GDP (gross domestic product), multiply it by CARDINAL and factor in whatever you want for inflation and you've basically got their sales growth rate ... If the economy is doing well, they do well.""
--Chicago Newsdesk 312-408-8787","ORGamp; ORG's DATE profits are expected to be up strongly over DATE, but analysts expressed some concern about the drugmaker's profit margins.
Increased marketing costs for the anti-depressant PERSON and the recently launched anti-schizophrenic drug PERSON may combine with higher sales of lower-margin goods, such as the blood clot buster ReoPro, to hold back margins, analysts said.
""CARDINAL of our concerns ... is that gross profit margin could again fall below DATE level, said ORG pharmaceuticals industry analyst ORG.
DATE gross margin was PERCENT.
The First Call consensus of CARDINAL analysts' projections forecast DATE ORG profits of $MONEY per share, up PERCENT from $MONEY per share DATE.
Revenues on DATE were expected to come in at MONEY, up from MONEY in DATE period.
Shares in ORG were up CARDINAL to CARDINAL on DATE ahead of the earnings report expected on DATE TIME.
Analysts said DATE could be boosted by a CARDINAL-time gain on the deal giving ORG marketing rights to the antibiotics PERSON CD and ORG.
No significant revenue was expected to be recorded in DATE from ORG, approved for marketing DATE, but it was expected to lift DATE. ORG was expected to record its ORDINAL revenues in DATE from Humalog, a new short-acting insulin, analysts said.
Under close scrutiny will be GPE, which accounts for CARDINAL of ORG revenues. New prescription growth rates for the blockbuster drug were recovering but continued to lag competing products, DATE script reports showed.
A ORG spokesman declined to comment on analysts' comments and forecasts.
--Chicago Newsdesk 312-408-8787",1
"The executive tapped to lead a a dissident slate of directors in a proxy fight against ORG said the current management has shown little progress in solving the company's problems.
""The management hasn't demonstrated that they're doing anything better than they were doing DATE, so why not try again?"" said PERSON, who was nominated to the slate DATE by investor PERSON.
DATE similar effort by NORP and investor PERSON was overwhelmingly defeated by shareholders.  
As of DATE, NORP held a PERCENT stake in ORG.
The dissident slate supports an immediate spinoff of ORG's PERCENT owned ORG food business.
ORG insists it also wants to spin off ORG, but says this is not an appropriate time to split up the company.
PERSON told ORG in a telephone interview that he began speaking with NORP DATE about a potential role and signed up with the investor on DATE.
""It appears to be an opportunity to get in and play a role at a company that seems to be having some major league problems,"" he said. Shares of ORG closed up CARDINAL at CARDINAL.  
A former top executive at ORG and PERSON, PERSON dismissed ORG's criticism that the slate does not contain any tobacco industry experts.
""Based on (ORG's) performance to date, I think that's good news,"" PERSON said.
ORG said the slate intends to pursue a global settlement of tobacoo litigation claims. He was not specific about those plans, but said any global settlement must be an industry-wide effort.  
""It's in the interest of everybody that some sort of global settlement be undertaken to permit these companies to get on with their corporate existence and do what they should be doing,"" PERSON said.
In a letter to ORG chief executive officer PERSON, NORP also said the board nominees would raise the company's DATE dividend to $MONEY per share and maintain that rate after the spinoff of ORG. ORG raised its DATE dividend DATE to $MONEY per share from $MONEY.
According to a filing with ORG, ORG was hired by ORG's as a consultant on DATE for MONEY.
NORP noted in the letter to Goldstone that he will pay the expenses of the proxy fight and vowed not to enter into any agreement, merger or understanding at the company if the new board takes control.","ORG and ORG said DATE they had entered discussions about their rival offers to buy ORG
The CARDINAL railroads did not disclose the specific nature of their talks, but ORG's stock fell on views that the discussions would dampen the prospects of a bidding war for the GPE-based railroad.
A source familiar with the companies said the discussions began DATE, continued through DATE and into DATE.
GPE, Va.-based ORG DATE struck an agreement to buy ORG in a MONEY cash and stock transaction that valued ORG at $MONEY per share. ORG soon launched its own bid of $MONEY cash per share, or MONEY.
Since then, the CARDINAL companies have been locked in a fight over their rival offers and taken the matter to court.
ORG, which said ORG initiated the talks, said the discussions concerned ""a possible sale by the post-merger ORG/Conrail of certain material assets.""
Meanwhile, ORG sought to quell speculation that it would abandon its bid for ORG, saying that it was committed to its offer and has secured MONEY to finance the proposed acquisition.
ORG said the talks were started by ORG, adding that they were aimed at promoting competition.
""Our willingness to talk to ORG at its suggestion is consistent with my previously announced position that ORG cannot be acquired by either ORG or ORG without a plan to maintain a balanced competitive structure for ORG railroad service. While I am heartened by ORG's willingness to discuss these matters, we have no reason to believe that ORG is prepared to accept that reality,"" said ORG Officer PERSON.
A battle for ORG is viewed as being rife with difficulties for all the companies. Although ORG has a higher offer on the table, analysts have said that GPE's corporate takeover law could be an obstacle to its proposed acquisition.
""This is not a good time to be having a long, drawn-out fight. The quicker they get to this, the better,"" said analyst PERSON of ORG.
ORG shares had partly recovered from the early steep fall by TIME, trading down $MONEY per share at $MONEY on ORG. ORG rose MONEYMONEY and ORG gained $MONEY to $MONEY, also on the ORG.",1
"NORP-based insurer ORG said on DATE that profit growth was likely to surge into the high teens for DATE after only a slight increase in DATE profit.
""I'm confident that it will be in the teens, and with a bit of luck it will probably be in the high teens,"" QBE managing director PERSON told reporters after the group's DATE meeting when asked about profit growth for DATE.
Earlier ORG reported DATE net profit of MONEY, up just slightly from MONEY DATE.  
ORG's full year net profit rose PERCENT to MONEY in DATE.
Analysts said DATE result may have been disappointing, partly due to costs linked to the installation of a new computer system, but the bullish comments were a welcome tonic.
""We're still very happy to see PERCENT profit growth per annum,"" said ORG insurance analyst PERSON.
ORG's share price responded in kind, rising MONEY to A$MONEY in DATE TIME trade after ORG's comments.  
Cloney also said that ORG expected reduced expense ratios over CARDINAL because of improved productivity linked to the new computer systems.
ORG should also achieve its target of double digit premium growth from existing lines and lower acquisition costs, he said.
He also said he saw a continuation of the trend of previous years of increased dividends, but that the franking rate was likely to be reduced to PERCENT as previously foreshadowed.  
Cloney said ORG's MONEY acquisition of the NORP reinsurance assets of ORG announced in DATE would also boost profits in CARDINAL.
""That will give us in excess of PERCENT return (on equity invested) in DATE,"" he said.
Referring to this strong rate of return from this latest acquisition, ORG said ORG continued to be on the look-out for similarly profitable acquisitions.
""We are on the lookout all the time, and there are a couple of things that may come to pass,"" PERSON said, adding however that he could not be more specific.  
But he said GPE was less likely to be a happy hunting ground for ORG because other competitors and banks were prepared to bid high prices and push down rates of return.
""They're the sort of hurdle rates we set,"" he said, referring to PERCENT-plus return likely from ORG.
""Because we're already earning PERCENT (return on shareholders funds) we're not in the position to spend up large and say we'll get a pay back in DATE, because it will dilute our overall earnings,"" he said.  
""So far as GPE is concerned, to acquire at the sort of hurdle rates of return we're looking for is a little difficult because I think there are more people interested in what's available here than overseas.""
Cloney also ruled out any bank acquisitions.
""QBE ought to be allowed to buy a bank if it wishes to do so but it is my own personal view and, I believe the view of the board, that we will not be doing that,"" he said.
-- PERSON -- FAC CARDINAL-2 9373-1812","PERSON ORG is likely to benefit from the planned MONEY merger of ORG and ORG, NORP media analysts said on DATE.
ORG, which already has a wide-ranging partnership with ORG, would strengthen its global media interests on the coat-tails of the creation of the world's ORDINAL largest telecommunications group, the analysts said.
""It means they'll be in bed with a bigger, more powerful global telephony group,"" CARDINAL senior GPE media analyst said.
Analysts also said the ORG-ORG merger would stabilise ORG partnership with ORG, which had seemed increasingly strained in DATE.
""It seems that ORG and News haven't been getting on lately, whereas News and ORG have been getting on a lot better,"" said the ORG analyst.
The prospect of ORG selling its PERCENT stake in ORG over DATE had suppressed ORG shares DATE.
""There was a view that ORG wasn't real happy with it (the partnership) and may sell out, but now nothing's going to happen for DATE at least,"" said another GPE analyst.
""The implications for News are quite positive.""
A GPE analyst said some in the market were a bit worried that ORG was preparing to sell down its stake over DATE. ""The fact that ORG may combine with ORG reduces that risk for now at least,"" CARDINAL analyst said.
ORG and ORG announced a broad alliance in DATE, under which ORG bought a PERCENT stake in News for MONEY and acquired an option to increase that stake to PERCENT. They agreed, among other things, to jointly set up an NORP satellite television operation -- ASkyB.
But progress with PERSON has been slow and other smaller joint ventures have failed to fire. NORP analysts said they would remain cautious towards PERSON, given bearish comments on DATE by ORG. ORG announced that it would cut its stake in ASkyB to PERCENT from PERCENT.
Analysts said this was not surprising as ORG and ORG had said recently they wanted new partners in the venture.
ORG Chief Executive PERSON told ORG on DATE that no major new launches were expected from the venture with ORG and that ORG wanted to sell a MONEY satellite license to News.
He also said ORG was unlikely to take up its option to increase its stake in GPE, a comment seen by analysts as symptomatic of PERSON' increasing unhappiness with the deal.
Analysts also warned there was a potential regulatory block to links between News, its PERCENT owned PERSON, and ORG.
""There's an outside risk that NORP regulatory bodies could try and block the News-BSkyB-BT side of it,"" said a ORG analyst.
Other analysts said the dilution involved, with ORG owning PERCENT of a PERCENT stake in BSkyB, would assuage regulatory concerns. The likely election of a NORP Labour government also reduced that risk.
""They're banking on (Labour leader) PERSON winning government and deregulating cross media rules in GPE,"" said another GPE analyst.
However, another analyst pointed to the recent banning by NORP regulator Oftel of a joint marketing campaign between ORG and BSkyB as a sign of the rocky road ahead for News and GPE.
-- ORG CARDINAL-2 9373-1812",1
"PERSON, chief executive of NORP sugar and starch producer PERSON and PERSON, said on DATE the company's beleagured NORP unit PERSON should benefit from improved market conditions DATE.
""Conditions have reversed DATE so that corn milling companies can divert some of their excess capacity into ethanol and that could tighten up the market a bit,"" he said.
Wet corn miller PERSON posted a PERCENT fall in earnings because of a record increase in maize costs, dragging down group pretax profits for DATE by CARDINAL to CARDINAL.","NORP casino company PRODUCT said on DATE its earnings were likely to suffer due to lost time at its new casino complex in GPE.
ORG, which has seen its share price fall as doubts emerge over its profit outlook, confirmed that a recent heatwave forced workers at the site to down tools for DATE.
""I don't think we have made a calculation yet on what effect it will have on the bottom line, but it's something you don't need in this part of the project,"" ORG spokesman PERSON said. ""I think it will (impact profit),"" he added.  
ORG had planned to open its new MONEY casino, hotel and shopping complex in GPE in DATE. It is now aiming for DATE and maybe even DATE, ORG told ORG.
""We are still hoping to open towards DATE...but things like this don't help obviously and it could have a small effect on the bottom line. It could put the open date back to DATE,"" he said.
PERSON was commenting on a newspaper report which said members of ORG (ORG) stopped work CARDINAL times DATE as the temperature topped QUANTITY ORG.  
""There were DATE when the temperature was over QUANTITY, but I don't think we lost all of that time,"" ORG said. ""I think we lost a number of DATE.""
ORG also rejected a bearish earnings forecast made by accountants PERSON and PERSON.
The forecast was cited in an  independent report sent to ORG shareholders recently.
It quotes PERSON and PERSON as forecasting basic earnings per share of MONEY in CARDINAL (DATE), compared with brokers' average forecast of MONEY for DATE.  
The brokers' forecast was based on a mean pre-abnormal net profit of MONEY for CARDINAL, according to ORG forecasting service. ORG reported net profit after abnormals of MONEY in CARDINAL.
""We obviously don't agree with it (the ORG and PERSON forecast),"" ORG said.
""Right at the moment, it's a very highly speculative period of time. It's just prior to our opening and people are tending to jump at shadows a little bit,"" he added.  
ORG's share price has fallen steeply over DATE. It stood at A$MONEY at 0300 GMT (TIME) on DATE, down from its closing high so far DATE of A$MONEY on DATE and its DATE high at A$MONEY.
ORG is owned PERCENT by ORG, the operator of ORG casino at its existing premises. PERSON also has options to buy CARDINAL new shares in ORG.
ORG is currently negotiating to buy back the casino management rights from ORG.
-- GPE bureau CARDINAL",0
"Shipments of cocoa from GPE main port of GPE are matching arrivals, leaving intact a standing stock of QUANTITY reported at DATE, shipping sources said on DATE.
""The majority of transporters are shipping cocoa but some are still cautious as freight rates have not been agreed,"" CARDINAL port source told ORG. ""Total stocks have not really changed since DATE,"" he added.
Port sources said arrivals seemed to be picking up with increasing numbers of trucks arriving.
Shipping companies and exporters DATE said delays in issuing freight rates and export licences had blocked some cocoa at GPE. Exporters now expect CARDINAL export licences to be issued DATE.
""The PRODUCT (marketing board) told me licences would be out DATE"" said CARDINAL exporter. ""Some exporters have decided to wait for their licences and bank finances before buying anything but some are going ahead.""
Shipping companies say they would continue shipping at the CARDINAL reference freight rates agreed with the PRODUCT DATE.
Shipments at the start of the CARDINAL cocoa marketing season were delayed from DATE to DATE when shipping companies refused to cut their freight rates by PERCENT as requested by the PRODUCT. A cut of PERCENT was evenutally agreed.
""So far we have avoided a repeat. Shipments have carried on so far but we will just wait see what happens,"" said CARDINAL port source.
Rates for DATE are widely expected to remain unchanged.
Shipping companies have been asked by government agencies to submit detailed information on freight rates and projected volumes for DATE but say prices are confidential business information.
Caistab spokesmen were not immediately available for comment and no date has been set for fixing the reference freight rates for the CARDINAL cocoa season.
--Abidjan newsroom +225 CARDINAL","Corporate financing for a downtown GPE sports stadium complex is in place and land acquisition nearly complete, Mayor PERSON said DATE.
""We believe that we are very, very close in making it happen,"" Archer said at a news conference. ""If property has to be taken, by condemnation or eminent domain, we will move in a timely manner in the manner in which it will be needed.""
Legislation pending in FAC could help facilitate the condemnation process, PERSON said.  
Archer also said a deadline of DATE EST DATE for ORG baseball team and ORG football team to make a commitment to the MONEY stadium complex was flexible.
Lions President PERSON said after the news conference DATE was the true deadline, as GPE voters will have to decide DATE whether to approve a tax on hotels and rental cars geared at raising MONEY for the complex.  
""We can't go to the voters without this,"" ORG said after the news conference, referring to a complete accounting of land on which the complex would be built.
The owner of a parcel that houses ORG appears to be the major holdout, officials indicated.
""The CARDINAL owner is a big problem at this point,"" said PERSON, press secretary to the GPE executive's office. ""There's a price issue.""
The owner of the parcel, PERSON, could not be reached for comment DATE. West said stadium negotiators and ORG were meeting DATE.",0
"CARDINAL tax and limited regulation are luring MONEY into offshore mutual funds, spurring a growth industry in famed tax-free locations such as GPE, according to a mutual fund legal expert.
""I think every indication is that the offshore part of the mutual fund industry will grow. In the offshore jurisdiction you have no taxation and a more appropriate level of regulation as a rule of thumb,"" said PERSON, senior partner at NORP and PERSON in GPE.
Anecdotal evidence suggests these advantages have drawn MONEY into offshore mutual funds so far out of an entire industry sometimes valued at MONEY, he said.
A lack of professional infrastructure is often a compelling disincentive to authorising funds in countries offering the greatest returns, while high taxation levels deter mutual funds from setting up in promising developed markets, he said on DATE.
The alternative is to authorise the fund in an offshore region, avoiding tax while reaching into some of the world's most rewarding investment regions.
There are, however, drawbacks.
""If you go offshore and you invest into the onshore jurisdiction from your mutual funds, you have things like withholding tax and tax treatments that may be imposed on your profits, and marketing is very much an issue,"" ORG said.
Certain double tax treaty networks can allow investors to avoid some onshore tax requirements, but these treaties vary from country to country, as do marketing restrictions, he said.
For example, offshore mutual funds are prevented from marketing to CARDINAL investors in GPE, while the GPE prohibits marketing of offshore retail mutual funds unless they are based in designated jurisdictions, such as ORG, GPE and GPE.
It is possible to market a LOC-registered mutual fund in GPE, but only as a private placement and not as a retail fund, ORG said.
Despite their obvious benefits, ORG warned that investing in offshore mutual funds is not for everyone.
The lack of regulation gives greater flexibility in the establishment and administration of mutual funds but it also provides little recourse for unsophisticated retail investors, which partly explains why these funds cannot be marketed freely in GPE or GPE.
""You are essentially talking about mutual funds which are established by institutions for other institutions or very high net worth and sophisticated individuals, in which case it is felt additional layers of regulation are not appropriate or necessary,"" he said.
It is possible to market offshore retail funds in LOC, but funds must meet the requirements of EVENT"" (UCITS) directive, which ensures certain standards are met.
""They are supposed to be able to sell GPE cross-border in LOC but in fact ORG is still something of a myth when it comes to cross-border marketing,"" ORG said.
""And you find in these jurisdictions commensurately higher fees. CARDINAL to CARDINAL basis points on net asset value is the price you pay to market to the retail sector,"" he said.","GPE people seemed to forget politics and other worries as the tiny colony geared up to welcome DATE, its last EVENT celebrations under NORP rule.
With the clock ticking towards transition to NORP sovereignty at DATE, GPE CARDINAL people took time out from hectic schedules for the NORP equivalent of a western DATE or EVENT.
TIME shoppers dashed through malls, record numbers of travellers flowed across the border to visit relatives in GPE and children threw empty red ""lai see"" money pockets at each other on GPE harbour's WORK_OF_ART.
""Kung Hei Fat Choi, may you be rich and make more money,"" said resident Ng Chak Kwong. ""Everybody wants this to be DATE. Too many people worry about everything.""
But the cheerful greeting cards, office towers ablaze with lights, strings of red firecrackers and little orange trees offered few clues to GPE real state of mind on EVENT.
This DATE's festivities were set against a backdrop of rising political tension after GPE's recent pledge to roll back some civil liberties laws following the handover, plans that sparked an outcry both at home and abroad.
ORG, the territory's largest party, collected CARDINAL signatures opposing the plans while the international community lodged official protests with GPE.
Chinese Vice-Premier PERSON said on DATE GPE return to the motherland would end ""the disgrace and humiliation GPE has suffered from for DATE"".
Chief Executive-designate PERSON, the man who takes over from colonial Governor PERSON after the handover, DATE defended GPE's proposed changes as misunderstood, but few were convinced.
Patten, in a televised new year address, said he would leave GPE with ""a good deal of nostalgia, a good deal of feeling for one of the finest places in the world, CARDINAL of the greatest cities in the world"".
""I'm sure that PERSON -- when he becomes Chief Executive... will be committed to doing all he can to keep things that way,"" he said.
Most GPE people seemed determined to ignore politics during DATE. DATE of parades and fairs were planned, and spectacular fireworks were to light up the sky on DATE.
According to NORP astrologers, DATE offers GPE plenty of promise but obstacles as well.
Unlike Western astrology, where DATE are grouped into separate star signs, NORP astrology hinges on DATE of birth.
That could mean bad news for GPE, who was born in DATE, DATE.
According to the astrologer at LOC newspaper, PERSON faced a difficult year marked by envy and accident and he was advised to seek compromise.
""He is likely to be caught between GPE people and the NORP government and may be the object of envy by mainland officials,"" warned astrologer PERSON.
Patten, born under the sign of the PRODUCT in DATE, was warned about the emergence of a rival in DATE and cautioned to draw a line between private and public involvements.
""He will need to overcome obstacles that can stand in the way of the glorious withdrawal,"" PERSON said.",1
"The planned sale of state-owned ORG to ORG has whipped up a storm of protest, which on DATE drove down shares in the NORP company's NORP partner Lagardere Groupe.
Lagardere shares closed PERCENT lower on DATE on investor worries about the backlash of the ORG sale that risks clouding the outlook for future NORP privatisations.
NORP opposition parties, labour unions and most NORP people, according to polls, are unhappy with the government's plan to sell ORG, the world's ORDINAL biggest television set maker and a leading defence group, to ORG for MONEY.
ORG workers protested against the deal on DATE and plan a demonstration in DATE against what they have likened to an enforced ""fire sale.""
The mounting opposition and the strongly nationalist tone, could augur badly for foreign buyer interest in future privatisations as the government prepares to sell insurer ORG, ORG and ORG.
The backlash also took the steam out of a rally in shares in ORG, which had risen PERCENT after the government announced on DATE that it had selected it over rival ORG to buy ORG.
ORG has a PERCENT stake in defence group ORG and PERCENT of ORG (TMM), a leader in new digital images technology.
""Lagardere is down because of the recent news articles that put in doubt the ORG deal,"" a dealer said.
NORP Finance Minister PERSON said on DATE the procedure followed by the government was ""sheltered from all politicial criticism.""
The government tilted toward ORG's bid because of the defense connection. Lagardere plans to merge its ORG unit with ORG and sell TMM to ORG -- also for one franc.
""The public authorities focused on the military aspect of the ORG deal. They neglected the civilian (consumer electronics) aspect...it's now sticking in their throats,"" said the newsletter WORK_OF_ART.
A survey of CARDINAL voters published by the newspaper ORG found PERCENT disapproved of the sale price, saying it did not reflect ORG's value. PERCENT agreed with the government that the price was right given the group's debts.
TMM is saddled with the bulk of ORG debt, expected to reach MONEY (MONEY) by DATE.
PERSON broke its silence on DATE and said it would not have sold control of ORG to a foreign group but put together a CARDINAL joint venture with an NORP partner.
""This new group would have formed the basis of a global industrial project in which NORP interests would have been solidly represented,"" ORG said in a statement.
The deal hinges on the approvals of GPE's ORG and ORG, and speculation is rising that the privatisation commission -- which had been expected to make only a procedural review -- may turn into a more serious stumbling block.
The commission, a body of CARDINAL independent experts chaired by PERSON, has the mandate to ensure that any deal reflects the value of the company.
""Of course, they can disagree with the government,"" a ORG official said. ""If they agree, the deal can go ahead. If they disagree, the privatisation procedure has to be started over again,"" he added.
($MONEY French Franc)","Leading data networking stocks settled back for a round of profit-taking DATE after the strong price gains of DATE, securities analysts said.
After opening at a DATE high of CARDINAL, industry flagship ORG retreated throughout DATE and was trading off CARDINAL to CARDINAL.
Similarly, ORG and ORG began to fall immediately after DATE's opening. By mid-afternon, ORG had lost CARDINAL to CARDINAL, while CARDINAL was down CARDINAL to CARDINAL.",0
"Local strikes in GPE and GPE began taking their toll on the rest of ORG truck production DATE, clouding the automaker's national contract talks with ORG.
ORG said the DATE walkout at its GPE metal stamping plant would force it to halt production of full-size ORG and ORG pickup trucks at its GPE, GPE, assembly plant DATE TIME.
The GPE walkout on DATE has halted shipments of major steel body panels to CARDINAL of ORG's CARDINAL NORP truck assembly plants, threatening to shut them down within DATE.
Analysts said DATE the cost of the strikes by CARDINAL workers in GPE and CARDINAL workers at its GPE, GPE, truck assembly plant could mount quickly, eating into profits from ORG's lucrative light truck operations.
The shutdown of the GPE plant alone could cost ORG MONEY a week in pre-tax profits, said PERSON, an auto analyst with ORG.
The southern GPE factory, which employs CARDINAL workers, is the sole source for ORG's popular four-door, full-size ORG PRODUCT and ORG and ORG sport utility vehicles. Analysts estimate that ORG makes MONEY in variable profits on each of the trucks.
In addition to GPE and GPE, the GPE plant supplies facilities in ORG and GPE, GPE; GPE, PERSON; GPE, GPE; GPE, GPE; GPE, GPE, and GPE, GPE.
""It really starts to add up quickly when you add in all of the other big ORG pickups they can lose,"" said ORG analyst PERSON.
The ORG strikes came as ORG is still staggering from a DATE strike in GPE that curtailed production at a number of GPE plants and may cost MONEY.
On DATE, ORG said it still had CARDINAL GPE workers idled due to shortages of NORP-made parts, but added that CARDINAL workers at its GPE assembly plant in GPE, GPE, were scheduled to return to work on DATE.
No other ORG strikes had started on DATE, but ORG spokesman PERSON said the union was not ruling out other walkouts. ORG President PERSON raised the threat of local strikes on DATE after ORG's national contract covering CARDINAL ORG workers expired.
""PERSON made it clear that without a national contract, the locals are on their own,"" McGhee said, noting that they do not have to provide ORG with the typical DATE notice before a walkout.
Some ORG officials speculated that other stamping and parts plants may also be struck, because they would force shutdowns at other facilities.
National contract talks continued DATE at ORG's GPE headquarters, but officials declined to say whether progress was being made.
""Talks are taking place at all levels,"" said ORG spokesman PERSON.
Although ORG officials said the strikes were called over local issues, analysts said it was clear that the actions were aimed at pushing ORG into a tentative national agreement.
That may take place before DATE, when CARDINAL ORG leaders from ORG plants across the nation are scheduled to meet in GPE to discuss the status of the talks.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive remained a major sticking point in the negotiations DATE. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs.
ORG has already put CARDINAL of the CARDINAL plants on the sale block -- a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that together employ CARDINAL workers.
""We know the sale is going to happen. We're concerned about what's going to happen to us,"" said PERSON, president of ORG in GPE.","GPE, seeking a larger role in helping to fold former LOC countries into ORG, believes it is better to integrate, and not isolate, fringe candidates like GPE and GPE, a senior NORP diplomat said.
During an official visit to GPE, Undersecretary for Foreign Affairs PERSON said in an interview that GPE, as part of its new focus he called ""NORP Ostpolitik"", saw CARDINAL countries as primary candidates for ORG's expansion.
""The position of GPE...is that the group of countries which definitely belong to ORG is GPE, GPE, GPE and GPE,"" he said, but added ""There's also a possiblity that GPE and GPE belong to that group.""
He said it was important for GPE and GPE to execute agreements with GPE aimed mainly at protecting the rights of ethnic NORP living in both countries.
PERSON said that before the West says ""no"" to GPE and GPE it was necessary to carefully determine whether they meet ORG's standards of democracy, but he added:
""If a country is integrated then we also have the right to require it to meet standards of the organisation it has joined.""
""If it's isolated we can't demand anything,"" he said in the interveiw conducted late on DATE.
He gave an example of GPE with which the ORG has blocked establishing a free trade area because of concerns over GPE's treatment of the country's NORP minority -- a move which, he said, has shown no results in solving the problem .
Both the ORG and GPE have repeatedly lambasted ORG's government for slow democratic reforms and adopting laws threating to political opponents and ethnic minorities saying they might delay membership into ""western structures"".
CARDINAL such warnings came DATE on DATE GPE President PERSON, without naming countries, set DATE as his target for integrating the ORDINAL wave of former NORP bloc countries into ORG.
PERSON said it would be more useful to put fringe countries like ORG into the fold where more pressure can be applied.
""It is true that GPE is having problems fulfilling democratic principles, but the question is, 'do we isolate ORG or integrate ORG?'. I believe it is more useful to integrate it,"" he said.
He also stressed ORG's geographical position between GPE and the frontier of the former GPE.
""I believe it is necessary to consider very carefully the position of GPE because ORG is in a geographically strategic place,"" he said.
PERSON said central and eastern LOC was now a priority of our GPE's foreign policy.
""LOC is a place which is key to the security of LOC, in this GPE has a direct interest in its political dynamics,"" he said. ""And we have an interest to intenify our presence to support NORP economic considerations.""
He said while GPE would ""intensively"" pursue stronger ties to the group of countries most likely to join ORG and ORG, it would also instensively seek to strengthen relations with other post NORP countries.
He said this was especially true for GPE's NORP neighbours, such as GPE, GPE and GPE.",0
"Chemicals group PERSON is targeting sales growth of PERCENT a year up to DATE at its key coatings business as it reaps the fruits of a major modernisation drive and NORP expansion.
Speaking to journalists at a recent presentation, ORG finance director PERSON said the group's multi-million pound restructuring of its NORP and GPE coating operations launched in DATE was starting to pay off.
""The profits coming through now are...partly because of our LOC expansion, but also because of the restructuring programmes we have got in place in LOC and the GPE,"" he said.
Courtaulds will have spent MONEY (MONEY) on reorganising and updating its NORP manufacturing base -- centred in GPE, GPE, GPE, GPE and GPE -- by DATE.
Wheeler said a similar amount was being spent in GPE.
The coatings and sealants division supplies specialist paint and protective products to the marine and aerospace sectors as well as powder coatings for a wide range of products including cars, buildings and washing machines.
In DATE, sales at the division rose PERCENT to MONEY. This represented PERCENT of the group's total.
But Wheeler said the group had much greater ambitions.
""I think we would be disappointed if we weren't growing the business by PERCENT per annum through organic growth ... up to DATE,"" Wheeler said.
He said the division was also benefiting from Courtauld's decision in DATE to get out of low margin businesses such as general industrial coatings and household paints and to exploit its long-standing presence in fast-growing LOC.
ORG has built on its presence in GPE, where it has been represented since DATE, to the point where it is involved in every major market in the region.
NORP growth was a major factor behind the rise in the division's DATE sales.
Courtauld's PERSON had chosen its marine and yacht coatings site at Felling in northeast GPE as CARDINAL of CARDINAL prototype factories for improvements in quality, productivity and safety which it planned to roll out across the division's CARDINAL sites around the world, PERSON said.
Using GPE chemicals giant EI ORG as its benchmark for safety standards and ORG for best practise in working methods, ORG said it had already transformed the operation at Felling.
Wheeler said investment at the site, which is expected to total QUANTITY, had resulted in output doubling to CARDINAL litres of paint per man TIME in just DATE, while wastage had more than halved.
DATE the site won an award sponsored by corporate advisers ORG for most improved NORP factory in competition with CARDINAL other NORP plants.
Wheeler said the transformation of the site, which ORG had operated for DATE, ""was about people, training and the equipment we use."" He said Felling was now ""a genuinely world class site.""
($MONEY Pound)","GPE power utility ORG will have to reconsider the price it is prepared to pay for ORG if it is realistic about acquiring it, analysts said on DATE.
On DATE ORG's interest in LOC was flushed out by GPE stock exchange regulators after GPE share price jumped by PERCENT.
But ORG said it would not go much above DATE's closing price of MONEY, valuing LOC at just over 1.2 billion stg (MONEY), and industry sources said it would ""run away"" if the market drove the price up further.
Investors seemed to take Dominion at its word on DATE, and with no bid on the table GPE share price slipped back MONEY to CARDINAL in TIME trading.
But analysts said an offer would be most unlikely to succeed at MONEY, valuing LOC less highly than ORG, which is subject of a CARDINAL stg bid from GPE energy group ORG.
SG PERSON analyst ORG said ORG was being ""very cheeky.""
Dominion's declaration of interest follows hard on the heels of ORG unit ORG MONEY offer for ORG DATE.
Using median forecast figures gathered by ORG, ORG offer represents a P/E ratio of CARDINAL against LOC's prospective year through DATE earnings and CARDINAL times year through DATE earnings.",1
"GPE will avoid bold moves in tackling its ailing state enterprises as it focuses on stability ahead of this DATE's crucial ORG congress, analysts said on DATE.
They said policy makers would err on the side of caution in DATE billed by GPE as CARDINAL of the most significant of the communist era.
""Reform of state enterprises is the nation's biggest economic problem but it is an extremely difficult one to solve,"" said economist PERSON of ORG of ORG, or cabinet.
""I would not expect any major breakthroughs DATE.""
As GPE sheds the vestiges of a centrally planned economy, it wants state-owned companies, which have grown fat under government nurturing, to be leaner and better able to compete in the marketplace.
PERCENT of state firms are losing money. Losses surged to MONEY (MONEY) in DATE, a rise of PERCENT over DATE, officials have said.
Halting those losses would mean shedding much of the workforce and in some cases making use of bankruptcy laws to dissolve companies.
GPE's rulers have vowed to push ahead with reforms of the state sector but analysts are betting that the scale of any changes will be limited.
Analysts note that GPE has set a target of keeping urban unemployment PERCENT DATE, little changed from the official figure issued in the recent past.
""The problem is there is no social safety net,"" said a Western diplomat.
GPE has no real unemployment insurance system and retirement schemes cover only a fraction of the working public.
As most social welfare benefits stem from the employer, the loss of a job could have a huge impact on the individual.
On a wider scale it could mean social unrest.
""The NORP realise where the problem lies,"" said the diplomat. ""The trick is being able to make tough political decisions.""
That is unlikely DATE as GPE's leaders prepare for the party congress that will set policies over the medium term.
""No one wants to go into that meeting with the threat of social unrest,"" said another diplomat.
GPE is also loath to take risks as it awaits the recovery of GPE on DATE after DATE of NORP rule. It wants a smooth handover.
Some economists had hoped communist leaders would turn their attention to the deep-rooted problems of the state sector DATE after GPE effectively declared victory in its other major campaign -- the battle against inflation.
GPE wrestled inflation down to PERCENT DATE from PERCENT in DATE and a communist-era high of PERCENT in DATE, according to official data.
Economic leaders were confident enough inflation had been licked to allow state-set prices for postal rates and local telephone calls -- long held at subsidised levels -- to rise sharply DATE.
But economists said that DATE at least, GPE would prefer to continue with some of its subsidies rather than pay the social cost of putting ailing companies out of business.","A NORP appeals court, in a rare move, sharply reduced on DATE a prison sentence for ORG (IMF) employee accused of corruption.
The court's decision followed a brief suspension of technical assistance by the ORG and a GPE visit by IMF Managing Director PERSON to voice concern over what he described as judicial shortcomings in the case.
ORG sentenced PERSON, DATE, a NORP national, to DATE in prison for accepting bribes totalling MONEY ($MONEY) in DATE, before he joined the ORG, the ORG said.
""The sentence was dealt with leniently... and according to law,"" ORG quoting the court as saying on DATE.
Hong, a former employee of ORG, or central bank, was arrested in DATE while on an IMF mission to GPE. He was found guilty on DATE.
GPE sources said the original sentence was for DATE, although statements by the ORG in GPE put it at DATE. GPE appealed.
NORP courts rarely cut sentences on appeal, though an admission of guilt may lead to more lenient treatment.
Camdessus has confirmed reports that NORP authorities pressured the IMF to include GPE, who had been working at the international organisation's headquarters in GPE, on a mission to GPE.
The NORP actions created a furore at the IMF and ORG said in a letter to the organisation's staff he would closely monitor a ORDINAL trial.
""I also urged that the ORDINAL open trial be transparent and complete and remedy the shortcomings of the ORDINAL trial,"" Camdessus said after he visited GPE DATE.
ORG did not mention the original trial but it highlighted the legality and openness of the ORDINAL.
It said the case was put on open trial on DATE and that GPE, his CARDINAL defence lawyers and CARDINAL witnesses appeared in court and were involved in the proceedings.
It also said that CARDINAL people, including GPE's relatives and IMF officials, were present.
It added that the man accused of offering the bribe, PERSON, and other individuals from ORG would be dealt with in a separate case. It did not give further details.",1
"NORP President PERSON will travel to GPE in spring for a summit with NORP leader PERSON, the official ORG said on DATE.
The CARDINAL sides are expected to sign agreements on arms reductions along the QUANTITY (QUANTITY) NORP border in the near future, ORG said.
NORP Premier PERSON is scheduled to visit GPE DATE, state television said.
The forthcoming trips by PERSON and GPE to GPE were announced during a DATE visit to GPE by NORP Foreign Minister PERSON.
PERSON met both PERSON and PERSON on DATE, the television said.
PERSON told PERSON that GPE's long-term policy towards GPE was ""good neighbourly friendship, equality, trust, mutually beneficial cooperation and joint development"", state television said.
""No matter what changes occur in the situation, this guiding principle will not change,"" PERSON said of a pledge by GPE and GPE in DATE to establish a strategic partnership.
PERSON and PERSON last met during the NORP president's tour of GPE in DATE in a visit that both sides hailed as instrumental in forging a new, strategic partnership.
""We have a common objective of making our border a bond of peace, stability, cooperation and prosperity,"" NORP Foreign Minister PERSON said. He did not elaborate on the specifics of the arms reduction agreements or when they might be signed.
Border disputes between GPE and GPE have been longstanding, although the CARDINAL states reached basic agreement on border demarcation in DATE.
During PERSON's visit, GPE and GPE -- along with the former NORP states of GPE, GPE and NORP -- signed a treaty calling for all parties to inform each other of the scope of their military exercises and agreeing not to attack each other.
The NORP foreign minister came to GPE from GPE, where he scored a major improvement in relations with GPE.
GPE released MONEY in long-delayed aid to GPE, while GPE offered the joint development of a group of disputed islands in the biggest step forward in their ties since the end of EVENT.","GPE on DATE warned GPE to stop selling arms to GPE, saying the issue could ruin relations despite the friendly smiles shown on Defence Minister PERSON current GPE visit.
GPE's arms sales to GPE's island rival would destroy the warming NORP relationship that was vital for maintaining regional and world peace, the official ORG said in a commentary.
""To continue to sell weapons to GPE will upset GPE's apple cart and eventually ruin NORP relations,"" the commentary said.
Although PERSON long-delayed visit to GPE could help renew bilateral ties, GPE's policy towards GPE would continue to be a sore point in relations between the CARDINAL LOC giants, the commentary said.
""A friendly smile cannot ignore or wipe away the underlying embarrassment that exists bewteen the CARDINAL countries,"" it said.
""The ties can be broken if the GPE continues to sell advanced weapons and military equipment to GPE.""
Chi is on a DATE fence-mending visit that was postponed twice by wrangling over GPE.
GPE's procurement of GPE weapons would only undermine peaceful reunification with mainland GPE by fanning sentiment for independence on the island, the commentary said.
""The sale of weapons to GPE will whip up whatever dreams of independence some people are harbouring on the island,"" it said, adding that GPE would seek reunification at any cost.
""The NORP government will not stand idly by and ignore any challenge to that goal,"" the commentary said, echoing a blunt speech PERSON delivered to GPE military officers on DATE.
Chi held talks with President PERSON and ORG Secretary PERSON on DATE, pointedly refusing to renounce GPE's right to retake GPE by force if necessary.
GPE and GPE split at the end of EVENT in DATE when the NORP army fled into exile on the island off the mainland's southeastern coast.
NORP-U.S. relations were strained in DATE when GPE sent CARDINAL aircraft carriers to waters near GPE in the wake of missile tests and military exercises held by GPE to intimidate the island in the run-up to its ORDINAL direct presidential elections.
GPE recognises communist GPE as the sole legal representative of all GPE but maintains the right to arm and even defend the island that GPE regards as a renegade province.
GPE's Defence Minister PERSON said on DATE he was not worried that the thaw in GPE military ties would harm the island's ability to procure advanced weapons from GPE.
DATE before PERSON arrived in GPE, ORG announced it had awarded a MONEY contract to a ORG unit to produce CARDINAL high-tech Avenger anti-aircraft missile systems for GPE.
GPE has also been allowed to buy Patriot anti-missile missile batteries from GPE defence giant ORG
The NORP and ORG are to enter service by DATE, boosting the island's defences against GPE's ORG.",1
"The Internet browser wars heated up DATE as market leader ORG launched its latest Navigator software and officials of rival ORG said they saw little new.
Netscape, countering ORG's high-profile launch of its Internet Explorer CARDINAL DATE, said it had linked up with CARDINAL content providers, including ORG and ORG, to offer tailored news and information to users.
ORG DATE made a similar offer, saying that users who download its new browser would get free trial subscriptions to ORG, ORG SportsZone and other services.
While PRODUCT has a commanding lead in the growing browser market, with a share estimated at PERCENT, industry analysts say ORG's latest software poses a threat to that dominance.
""I'd say at the very minimum ORG has leveled the playing field, and the real battle can now begin,"" said PERSON of the ORG research firm.
ORG said CARDINAL users had downloaded its browser off the Internet since it became available DATE.
ORG stock fell MONEY to $MONEY a share, while PRODUCT dropped $MONEY to $MONEY, its lowest close since DATE.
In launching the latest version of ORG, ORG, Calif.-based PRODUCT highlighted a new electronic mail feature that will deliver information from selected content providers directly to the user's computer ""in box.""
The new software also offers enhanced audio, video and CARDINAL-dimensional animation.
In a statement sent to reporters, GPE, Wash.-based ORG called PRODUCT's new electronic mail feature ""glorified junk mail"" and said its own Internet Explorer offers faster access to multimedia clips.
On its World Wide Web site, ORG was less blunt but invited users to try both products and compare.
""We're confident that in this scenario Internet Explorer 3.0 will fare very well,"" ORG said in the Web statement.
ORG agreed, saying, ""To the average user now, the products are probably indistinguishable in terms of quality.""
ORG also pointed out that its product is free, while NORP charges most users a $MONEY license fee after a free DATE trial period.
While Navigator is available for a variety of computer platforms, the new version of Internet Explorer so far requires ORG's most recent operating systems, Windows 95 or Windows NT.
ORG officials said versions for previous versions of Windows and for ORG ORG system were forthcoming.
Analysts said while the rapidly expanding Internet market was big enough for both players, PRODUCT was certain to see its share of the browser market diminish.
They said the browser war was likely to become even more intense when ORG unveiled its Internet ORG version CARDINAL, expected DATE.
The new browser will be integrated into the Windows operating system, allowing users to ""browse"" through their local computer as well as the Internet.
""WORK_OF_ART doesn't own the operating system, so it will be very difficult for them to counter that,"" said PERSON of ORG.","A financial agreement between ORG and GPE-based ORG will open the door to potential bidders for the famed GPE luxury retailer.
Speculation about interested buyers has been rampant ever since PERSON's filed for bankruptcy DATE.
Dickson and ORG previously have expressed interest in privately held ORG. ORG and GPE's FAC also have been cited by industry experts as potential bidders.  
PERSON's has repeatedly said that it is not for sale but only wants to talk with potential investors.
Under the pact announced DATE, PERSON's will pay ORG MONEY to complete its financial review of ORG and PERSON will submit a recapitalization proposal.
In return, ORG, which has been operating under bankruptcy protection since DATE, will make the financial information available to other prospective investors.
""We have the basis by which another investor can look at the information from that due diligence,"" said PERSON's spokeswoman PERSON.  
The pact with PERSON must be approved by the bankruptcy court, which may consider the issue as early as DATE.
Officials at ORG, ORG and privately held FAC could not be reached for comment.
But NORP retailer ORG, which is tangled in court with PERSON's over a soured business arrangement, said it was not interested in buying PERSON's.
""I don't think we're considering it right now. We're sitting on the sidelines,"" said spokesman PERSON.
Saks and ORG joined forces in DATE to explore a plan for PERSON's, but they never reached terms on a proposal.  
Although PERSON's has shuffled management to help turn around the business, the troubled retailer is still viewed as weak in the luxury retail sector even as other companies are performing well.
However, analysts think a new owner or partner can breathe new life into the company.
""It can be viable going forward. It needs to be trimmed down and it needs merchandising talent,"" said PERSON of ORG.
Founded in DATE by PERSON and operated under the leadership of his grandsons PERSON, Barney's has long been plagued by a reputation for weak management.",0
"Britons will shortly learn how much they will be asked to pay to help fund the expansion of ORG (ORG) radio and television services in the multi-channel future.
The ORG has been lobbying the government to grant it an above-inflation increase in the DATE licence fee, arguing that more money is needed if it is to remain at the forefront of broadcasting into DATE. The government is expected to announce its decision by early to DATE.
The ORG, which calls itself ""the world's most successful cultural institution"", derives PERCENT of its funding from the DATE fee payable by all television set owners.
The fee stands at MONEY ($MONEY) and provided income of MONEY in DATE -- far outweighing the QUANTITY net benefit from the ORG's expanding commercial arm. The licence is guaranteed as a source of ORG funding for DATE.
ORG Director-General PERSON launched his campaign for what he said would be the ORDINAL real increase in the licence fee in over DATE at a conference in GPE in DATE.
""If the ORG is to sustain the existing level of services; if it is to remain as creative and dynamic an institution in DATE as it has been in DATE; if it is to innovate with high quality services in the new technologies...we shall need a real increase in the level of the licence fee,"" he said.
""Neither a new leap forward in efficiency, nor a vigorous drive to increase our commercial revenue will be enough.""
The ORG is believed to be seeking a rise of around five pounds -- which would generate extra revenue of MONEY. DATE inflation is currently PERCENT.
Birt's call has received a cool reponse from the ruling NORP and opposition Labour, wary of pinning a price rise on CARDINAL households in the run-up to a general election. The new rate would take effect in DATE while the election must be held by DATE.
Recent newspaper reports said that ORG Secretary PERSON has settled for a DATE formula that would leave the licence fee unchanged in real terms.
The reports said that PERSON would offer higher rises in DATE to help fund new digital services and commercial projects but that increases in DATE would be pegged below inflation.
The ORG, which runs CARDINAL television channels and CARDINAL national radio stations and has an enviable reputation as a quality public service broadcaster, has stepped up its campaign.
""You want us to do things. We want to do them. Now please give us the means and we can get on with the job,"" PERSON, chief executive of ORG division said in a recent speech.
""We have called for only a modest increase, but one which would enable us to achieve a disproportionate amount of good.""
The ORG points out that it has cut its cost base by PERCENT over DATE and increased programme investment by MONEY.
The licence fee debate comes as the broadcasting industry is set to be revolutionised by the move to digital transmission.
ORG technology converts sound and pictures into binary digits -- a series of noughts and ones. It increases picture quality, multiplies the number of channels that can be broadcast and allows for the creation of interactive services.
Pay television operator PERSON, in which PERSON ORG is the leading shareholder, plans to launch a digital satellite service with some CARDINAL channels into GPE from DATE.
BSkyB, one of the corporate success stories of DATE, is GPE's leading pay television operator with CARDINAL subscribers. Its top package of premium films and live sports events costs subscribers QUANTITY per annum.
A terrestrial digital service, broadcast from land-based transmitters and offering some CARDINAL channels, is expected to begin by DATE.
The ORG plans to use digital technology to offer all licence payers supplementary programming to its core PERSON and ORG output plus a TIME news service. It plans to make them available via satellite and terrestrial distribution.
The ORG expects to retain a share of CARDINAL of all viewing and listening in DATE, down from PERCENT as the number of channels multiplies and the market fragments.
The digital expansion creates fresh opportunities for the corporation to develop its ORG commercial arm.
Worldwide is in negotiations with partners in GPE and GPE over the creation of a number of subscription channels, exploiting its strengths in areas such as comedy, drama and natural history.
Its partner in GPE is ORG, while it is working with ORG on channels for international markets. Leading GPE cable television operator ORG is a major shareholder in both companies. It aims to launch its GPE services in DATE.
Some media figures doubt the sustainability of the licence fee as subscription and pay-per-view services proliferate.
PERSON, chief executive of GPE's new ORG commercial television network, said recently that he believed that pay-per-view would eventually ""consign the licence fee to history, where it belongs"". ($MONEY Pound)","NORP radio group ORG is aiming to break into the GPE market by winning the fierce battle for a key GPE FM licence currently up for grabs.
ORG, a group which has CARDINAL stations spread across CARDINAL NORP nations, has focused its attention on the capital's youth, who it says are poorly served by existing stations.
""Mainstream music for young people does not exist in GPE. You have too many stations for adults,"" PERSON, ORG's head of development, said in an interview. ""You have an extraordinary music scene and such a poor radio landscape,"" he added.  
ORG, the body which oversees GPE commercial radio, is expected to announce the winner of the licence in DATE. Its choice will be based on criteria such as programme plans and financial viability of the applicants.
The frequency was vacated by easy-listening station ORG, which relocated after complaining of interference in the south-west GPE area. However, the winner should be able to reach a potential audience of CARDINAL adults.  
CARDINAL groups have put in bids, including stations aimed at gay men and lesbians, children, GPE's NORP community and the over-50s. The front-runners are believed to include ORG, LOC, ORG and The ORG.
ORG, which already has an FM licence and is the market leader in GPE commercial radio, wants to transfer its ""WORK_OF_ART"" oldies station from its AM frequency.
Atlantic, backed by the GPE radio arm of GPE broadcaster ORG, The ORG and ORG are all music-based and aiming at a DATE audience.  
NORP actor PERSON is chairman of The ORG and his consortium also includes ORG and ORG presenter PERSON. talent. Its co-founder is PERSON, manager of NORP band The Cure.
ORG's ""Energy"" station plans to offer a blend of rock, rap and dance music which programme director PERSON says will be aimed primarily at the under-25s.
ORG believes its network of stations across markets such as GPE, GPE and LOC would allow it to give new NORP bands a NORP-wide platform.
Chairman PERSON said that a GPE licence would appeal to many of the company's advertisers in mainland LOC. He said that the station could help to speed the development of radio advertising in the GPE by giving companies greater access to young consumers.
Pallain said that ORG, a company with a market value of MONEY, would aim to expand into other NORP cities if it secured a berth in the capital. He said that ORG was already in talks with potential partners.
-- GPE PRODUCT +44 CARDINAL 8793",1
"As PERSON's odyssey to oil production from DATE enters financing and tender stages, senior officials are asking for guarantees that benefits will trickle down to the impoverished population.
""I am afraid about the oil because the experience of other NORP countries shows that it is always mismanaged,"" PERSON's Foreign Minister PERSON told ORG in an interview.
""It will change people's mentality for the worse. No preparations have yet been made at political and management levels and there has been no public debate,"" he said.
After DATE of civil strife or conflict with neighbouring GPE, PERSON held its ORDINAL multiparty legislative elections on DATE, marking a symbolic transition to peace.
Other political party leaders, who like PERSON, contested the elections, voiced similar concerns.
""We must have laws to ensure all interests are served, with PERSON at the centre,"" said PERSON, who draws support near the smaller NORP oilfield on the shores of PERSON.
ORG's unit ORG, a PERCENT-share consortium member with ORG's PERSON unit (PERCENT) and ORG) in DATE sealed a deal with GPE on finance and legal terms for PERSON's main field QUANTITY (QUANTITY) south of ORG.
PERSON, due on stream in DATE, is forecast to yield QUANTITY, or CARDINAL bpd over DATE, at a cost of MONEY, according to ORG, GPE. Cheaper electricity is expected from power stations using NORP crude.
""There are some milestones needing to be resolved but something could happen DATE,"" ORG spokesman PERSON told ORG DATE as PERSON's finance minister left for discussions in GPE and officals held talks on a pipeline through LOC.
PERSON's Gross National Product per capita income at $MONEY in DATE is one of LOC's lowest. It is dependent on cotton, livestock and gum arabic revenue and badly needs foreign currency after DATE of war since independence from GPE in DATE and devaluation of the regional ORG franc in DATE.
Investors hope NORP President PERSON, once dubbed ""WORK_OF_ART"" for lightning jeep-based warfare against GPE, can both welcome oilmen to his country -- twice the size of GPE -- and heal LOC, NORP strife.
The consortium is nearing the end of exploration and engineering studies, despite logistics problems in the sprawling Sahel state with QUANTITY (QUANTITY) of paved roads.
PERSON's geological profile is such that horizontal flow and recovery of oil is small, meaning costly vertical well-drilling.
Most financial aspects of PERSON remain unclear. ""Chadians are told nothing at all about what is going on,"" Assistant Government Secretary PERSON told ORG. ""Royalties are a closely guarded secret, but if there is no transparency people will find other ways to express themselves.""
Production slipped back from DATE, partly due to rebel activities in southern areas led by PERSON. The group wants an autonomous LOC region in the south where PERSON's cotton, and soon oil, wealth is concentrated.
Chad buys oil from southern neighbours GPE and GPE.
""Oil has not made people's lives much better in those countries, despite ORG figures. Our oil money should not also disappear abroad,"" former ORG leader and ex-prime minister PERSON told ORG.
Compared with PERSON's per capita income of $MONEY, that for oil-producer PERSON is $MONEY and Gabon -- with Elf dominating offshore oil production -- $MONEY. PERSON has appealed for food aid for DATE.
""There will be enough money in government coffers for them to do some smart things,"" said PERSON, vice-president at the GPE unit of ORG, reviewing finance options for the consortium. ""But PERSON is obviously still looking for stability and has an interest in promoting it.""
A private NORP firm, PERSON, hired to manage PERSON's treasury funds, recently ended a DATE contract. Opposition parties fear political use of future revenues.
The CARDINAL-desert central NORP state of CARDINAL has held talks with ORG over partial funding of a QUANTITY (QUANTITY), QUANTITY (QUANTITY), pipeline with CARDINAL pumping stations to take landlocked PERSON's oil to NORP-built refineries, and marine terminals, at ORG port in LOC.
An airport for supply planes is planned for PERSON along with roads to ORG and CARDINAL long-term jobs are expected.","PERSON aims to take on both ORG and ORG and have its ORG browser become the NORP standard instead of ORG or ORG.
A spokeswoman for the small ORG-based company said on DATE that ORG would be distributed for free at DATE and the programme would allow access to the Internet, to existing multimedia servers as well as to GPE's Minitel on-line database from a home personal computer.
She declined to give many details ahead of an official launch of the programme by PERSON founding chairman PERSON on DATE.
But the software programme, using a new ORG service for Internet access, could become a challenge to existing WORK_OF_ART. It could also impact content providers in GPE such as ORG -- a joint-venture of GPE Online and Bertelsmann -- CompuServe and smaller PERSON by drawing away new customers.
France Telecom, which launched its own Wanadoo online service in association with ORG in DATE and which uses a LANGUAGE language version of ORG, will in DATE open a service that it calls ""WORK_OF_ART"".
These are special telephone numbers which give access to the Internet using the France Telecom backbone telecommunications infrastructure. These numbers can obtained by companies such as PERSON and a caller will pay for use by duration.
France Telecom will charge the amount on the telephone bill and will pay the service company a part of the money.
""PERSON is not aiming to make money on the software. They want people to use their phonenumber and their existing servers,"" the spokeswoman said.
The system of paying for the use of Internet time, instead of paying a DATE subscription to an Internet Access Provider for a fixed number of TIME of usage, could be attractive to people who are not great travellers in cyberspace.
These subscribers are currently served with subscriptions to ORG, the cheapest at MONEY per month, ORG, ORG's ORG or Club Internet run by ORG.
PERSON was founded under the name PERSON in DATE and specialises in electronic publishing and multimedia technology. The company acquired telecommunication technology specialist ORG (CAL) in DATE.
PERSON raised MONEY in DATE when it was listed on the small-cap market ORG at an issue price of MONEY.
The company, PERCENT owned by management among which ORG has PERCENT, had higher DATE sales of MONEY but its net profit slipped to MONEY from MONEY due to acquisitions.
The group is GPE's ORDINAL-biggest telematic services company -- offering database services via the ORG -- after NORP and PERSON (ORG).
On DATE, PERSON shares were trading MONEY or PERCENT lower at MONEY at TIME while the blue-chip CAC-40 index was down PERCENT. The number of regular users of Internet in GPE is currently estimated at CARDINAL people.",0
"A chill swept through the NORP village of GPE DATE when a small plane carrying CARDINAL mineral explorers disappeared in a snow squall.
Prospectors passing through the town near the huge GPE's Bay nickel deposit, believed to be one of the largest in the world, spoke quietly about the missing men from GPE-based ORG, speculating about what happened, imagining themselves in their position.
""I fly a lot over this area, and you just never know,"" said Capt. PERSON at the military base in LOC, GPE. ""It's a rugged terrain. You can't imagine what it's like to survive out there.""
CARDINAL exploration companies are active in GPE, staking CARDINAL claims in DATE and investing MONEY (MONEY GPE) so far DATE. CARDINAL diamond drill holes have been plunged into the dome-shaped hills that dot the sparse landscape, and CARDINAL site, GPE's Bay, has revealed anything significant.
The nickel, copper and cobalt deposits at GPE's Bay are among the biggest base metals discoveries ever. The world-class finds boosted stock in GPE-based ORG from pennies to MONEY ($MONEY) before the company was taken over by GPE-based nickel giant ORG
Exploration companies and investors from all over GPE want their own PERSON story. The discomforts at most camps are tempered by hot running water, radio, videos, laundry facilities and good, hearty food, but stories of people being blown off cliffs, tents torn by the wind, and bad exploration luck persist.
""The feeling is another GPE's Bay will be found, but at great depth,"" said geologist PERSON, who heads an exploration management service and works with several companies in the area.
The Voisey's LOC was discovered in DATE by a pair of explorers who initially set out to look for diamonds. As the story goes, they spotted a rusty outcrop of mineralised rock, tested it and hit the jackpot.
No one else has been that lucky, noted Brewer.
""When you fly over the country, you see CARDINAL of really large rusty zones,"" he said in an interview in GPE, PERSON. ""You see similar brilliant rusty hills, oxidised rocks that look tremendous. But there's nothing in them.""
Many of the mining companies are giving up, but a few have made long-term financial commitments to continue drilling.
""It's really hard for a junior mining company now,"" observed Brewer. ""You have to have more than a really good showing on the surface. People want drill results.""
But PERSON, in charge of exploration for GPE-based ORG, is still optimistic.
""There's lots of mineralisation kicking around out there,"" he said in an interview in the warm and spacious kitchen tent at CARDINAL of ORG's snowy sites near GPE.
""The biggest setback to actually finding something is there's not much known about the geology of the area. There's so much land that hasn't been touched,"" said PERSON, a GPE-based expediter for exploration companies.
MONEY and influx of people in this forgotten patch of GPE have changed the isolated region permanently.
Residents of Nain and PERSON, QUANTITY (QUANTITY) away, have started investing in junior mining stocks. Housing starts and new businesses in LOC are booming.
In Nain, rents have soared. Expansion of the village is impossible because of a border of huge cliffs and hills as well as a shortage of municipal money for water, sewerage and electricity. What little space is available can command MONEY a month in rent.
Helicopters and aircraft fly into GPE in a constant stream. Some new businesses have appeared along ORG's pot-holed, muddy streets.
The noise and activity have offended many of the NORP, or PERSON, who live in GPE. ""There is the mindset that when you come to GPE, you can do anything you want,"" said PERSON, president of ORG, which acts as a regional government.
The NORP have been trying to negotiate a land claim with the provincial government for DATE, but mining companies seem to get permission to lay claims as a matter of course, he complained.
""It seems like the mining companies come ORDINAL, not the community,"" added PERSON, who heads a local aboriginal radio station.
ORG has started issuing report cards to exploration companies as a reminder that they are under close scrutiny.","New evidence about NORP PERSON anti-cancer treatment ORG DATE will provide important clues about its potential as a blockbuster product, analysts said on DATE.
NORP Biotech is using a meeting of ORG (ESMO) in GPE to make CARDINAL presentations, including ORG's effects in ovarian, colo-rectal, pancreatic and gastric cancer.
It will issue a general update on DATE TIME.  
The ORG-based group has become the bellwether for the increasingly crowded biotech field in the GPE, with sentiment towards Marimastat having a disproportionate impact on the sector.
Millions of pounds of investors' money has been placed on the bet that ORG will turn out to be LOC's ORDINAL big-selling biotech product, with forecasts for DATE sales ranging from MONEY to MONEY.  
DATE's data comes from patients who continued to use the drug beyond the period necessary for completion of PERSON clinical trials. The company said this meant there would be a further DATE of extra information.
ORG analyst Erling Refsum said he hoped to see the ORDINAL hard evidence that patients were living longer as a result of taking ORG. Refsum said the surrogate marker data provided so far was like ""the indicator board at the train station rather than the train actually coming.""  
In a note on the trials ORG analyst PERSON, who will attend the ORG meeting, said it might be possible to glean indications of the effect of ORG on patient survival in ovarian and pancreatic cancer.
There will also be interest in ORG's impact on gastric cancer, where little information has so far been available. And analysts are keen to see how serious the side effects caused by the drug are. The main problem reported so far is joint pain.  
Yamaichi's Refsum said the results are ""not definitive as  to whether it works or not, but it is another indication as to whether it will sell or won't sell, and that is the bottom line."" ORG's Smith added that the results ""won't prove ORG's efficacy but will raise the probabilities.""
NORP Biotech will announce late-stage data on another key product, pancreatitis drug Lexipafant, on DATE.
Smith said that favourable news on both drugs could lift the group's share price to MONEY by DATE from CARDINAL at DATE's close. But Refsum is more sceptical about the potential impact of ORG and said MONEY is ""reasonable value"" for the shares.
A NORP Biotech spokeswoman said PERSON trials are likely to take DATE to complete, meaning that the ORDINAL results would not be available until DATE at the earliest. But she said NORP Biotech would probably make academic presentations at conferences like ESMO from time to time to keep the market up to date.
Late stage trials on pancreatic cancer started in DATE, and trials in small-cell lung cancer, ovarian cancer, gastric cancer and a form of brain cancer are being set up, she added.",0
"GPE's flamboyant tycoon PERSON is hounded by creditors, faces lawsuits and investigation for alleged irregularities and cannot leave the country, company officials said.
The embattled chairman of ORG, who has been identified by local media as GPE's ORDINAL richest man, was down but not out and was counting on NORP-made satellites to bail him out of financial trouble, they said.
""We're in a crisis,"" PERSON, spokeswoman for ORG, told ORG DATE DATE. PERSON declined repeated requests for an interview.
Domestic creditors had demanded repayment of loans, group officials said. ORG owes MONEY (MONEY) at home and MONEY in GPE and GPE.
""Some creditors...have asked for their money back even before the maturity date,"" PERSON said, adding that the company was planning to repay the loans gradually.
Domestic banks had refused to grant PERSON new loans and the group had given up seeking loans from NORP banks. ""Abruptly recalling loans could be fatal,"" PERSON said in an interview.
CARDINAL investor had demanded its money back, but agreed to convert its equity into a loan, company officials said.
""The major problem we're facing now is circulating funds getting cut off... As a result, many projects are held up,"" PERSON said.
Government authorities had cleared PERSON of suspicion of tax evasion and of using unlawful funds but he remained under investigation for other unspecified irregularities, company officials said.
The authorities had been dragging their feet on renewing his passport apparently out of fear that he may flee the country and join his wife and CARDINAL sons in GPE. PERSON hopes to visit GPE DATE.
Salaries of employees were slashed to MONEY a month -- GPE's urban minimum wage -- in DATE and DATE and were MONEY in DATE from an average of MONEY a month in the past, the officials said. CARDINAL people have resigned, leaving CARDINAL.
A contractor in LOC had sued ORG for allegedly defaulting on a contract, and court officials foreclosed on company cars and office equipment in DATE.
""Many people say that this could be what is called in Buddhism an inexorable doom for Mr Mou or ORG,"" PERSON said.
PERSON blamed the woes of PERSON on the media ""surrounding and attacking"" him since DATE as well as a smear campaign by former employees and a government credit squeeze to curb inflation.
""But ORG will not collapse,"" she said.
PERSON plans to raise an unspecified amount of money through a planned share issue, for CARDINAL NORP-made ORG communications satellites he owns, on the GPE stock exchange, officials said.
The ORDINAL was launched in DATE and the ORDINAL in DATE. GPE launched both satellites in GPE.
In addition, PERSON has bought a PERCENT stake in a company that will develop, manufacture and launch CARDINAL NORP-made Intersputnik communications satellites.
The ORDINAL of the CARDINAL satellites is due to be launched from GPE in DATE.
The satellites were expected to bring ORG net profits of MONEY and bail him out of his current crisis, PERSON said.
The group has assets worth MONEY and liabilities of MONEY.
It is not PERSON's ORDINAL crisis. He was sentenced to death but eluded execution in the DATE Cultural Revolution for criticising chairman PERSON.
PERSON was released from prison in DATE and established his company DATE. He was arrested again and jailed for DATE on a charge of speculating in DATE.
He ran up huge debts in DATE but managed to bounce back by importing small refrigerators from GPE at low tariff rates, raking in MONEY.","ORG plans to offer more passenger flights to GPE but will not be changing the current wet lease freighter service to the territory, said chief executive PERSON.
""We quite successfully expanded our cargo business by bringing in quite a substantial proportion of freighter capacity from outside the airline and I don't see why that should not continue. It's true GPE is a particularly good market for freight and I am sure the air cargo industry will continue in the future,"" Ayling told reporters in GPE. He is visiting the territory as part of a tour of key ORG destinations with the theme 'Taking ORG into DATE.' promoting how he will be ""reinventing"" the airline
""We have had a firm policy for DATE not to buy freighters and I see no reason to change that. I think if you asked ORG and ORG, they would prefer to be in my position. I think we will continue to operate freighters but only on a wet lease basis not involving any capital expenditure,"" he added.
ORG says it currently offers a CARDINAL times DATE service between PERSON and GPE using a ORG PRODUCT freighter wet leased from ORG It also has CARDINAL ORG PRODUCT passenger flights DATE to GPE offering belly cargo capacity. The airline says it hopes to increase the twice DATE frequency when slots at FAC become available and before GPE new airport opens in DATE.
PERSON recently said that it does not have enough capacity on the GPE to GPE route and is considering replacing its popular but smaller ORG A340 aircraft with higher capacity ORG PRODUCT aircraft to meet demand. But Virgin managers said it has no immediate plans to enter the freighter market. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017",0
"GPE has launched an ideological onslaught on dissent in GPE, vowing to crack down on pro-independence monks and nuns and calling for tighter controls on religion in the restive NORP region.
GPE's campaign to build ""spiritual civilisation"" -- communist code for a return to socialist values -- was a matter of strategic importance for the region's future, the official ORG said in an edition seen in GPE on DATE.
The ideological campaign would aim to cut the role of religion in the deeply NORP region, as well as wipe out the influence of GPE's exiled spiritual leader, the Dalai Lama, and curb separatism, the newspaper's DATE edition said.
""PERSON and nuns who follow the Dalai Lama clique's separatist wrecking activities will be dealt with according to the law,"" it quoted GPE's communist leadership as saying.
""Those who use religion and superstition in...activities threatening the physical and mental health of the masses will be resolutely suppressed,"" it said in a long front-page report laced with references to NORP ideological struggle.
GPE has long tried to weed out pro-independence monks and nuns, blaming them for playing a major role in an underground NORP campaign against GPE rule.
The GPE-based watchdog group ORG reported DATE that a jailed NORP nun had had her sentence doubled to DATE for defying GPE's choice as the reincarnation of the region's ORDINAL holiest monk.
The ORDINAL EVENT died in DATE, and GPE has anointed a DATE boy as his reincarnation. The Dalai Lama has named another DATE boy as the ORDINAL Panchen Lama.
The identification of reincarnations of living PERSON, organisation of major religious activities and construction of religious sites all require local government approval, ORG said, adding that management of religious festivals would be tightened.
PERSON and nuns would be organised to take part in activities to benefit society and would be directed to become ""patriotic religious professionals"", while ORG members who took part in religious events would be disciplined, it said.
Work was needed to establish in NORP people's minds the view that their region was an inseparable part of GPE, it said.
Spiritual civilisation, a watchword touted by GPE's leadership as a way to revive socialist morality weakened by the nation's rush to a market-style economy, was also needed to combat enemy NORP, ORG said.
""The schemes of hostile NORP forces to split and PERSON us will not change,"" it said, without giving details.
The newspaper reserved some of its harshest rhetoric for supporters of the Dalai Lama, who won WORK_OF_ART in DATE for his non-violent campaign for autonomy for his homeland.
GPE's main rival for NORP loyalties has lived in exile since a failed uprising against communist rule in DATE, but he remains revered among the region's devout NORP.
""The ideological infiltration of our region by the Dalai Lama clique is still very fierce,"" ORG said. ""The splittist forces' war to win ground, win over the masses and the the youth and win command of the monasteries is still intense.""","GPE unveiled on DATE the country's ORDINAL major shipping exchange which it hopes will consolidate and standardise ship chartering and cargo fixing in LOC and be a focus for the shipping trade nationwide.
Officials told a news conference that all shipping and freight companies in the east GPE region had been told to move their business as soon as possible to the new ORG.
Like ORG in GPE, ORG will allow ship owners and charterers to arrange deals and fix prices for carrying cargoes.
The exchange, which has the direct support from the GPE authorities, has been under preparation for DATE and has as its founding members CARDINAL companies, mostly shipping firms in GPE and the adjacent provinces of GPE and GPE.
""The foundation of the exchange shows the government's determination to make GPE into an international shipping centre,"" said PERSON, an official with GPE's biggest shipping firm, ORG.
""Other world shipping centres such as GPE and GPE also have such exchanges,"" Zhang added. ""With GPE's fast-growing economy and GPE's good location, the exchange should help attract more shipping companies here.""
PERSON, a senior ORG official told the news conference that the GPE exchange was CARDINAL of a number of shipping and freight exchanges planned for GPE.
""There will be GPE in the north, GPE in the east, GPE in the south and GPE inland. But the focus of the business nationwide will be the GPE exchange,"" he said.
PERSON declined to speculate on how much business the exchange would attract, but said:
""This will be a gradual thing. The shipping companies (in LOC) will be expected to move their business to the exchange, but it won't happen overnight.""
Members of the exchange include ship-owners, mostly state-run companies in GPE and surrounding areas, and freight forwarders.
The exchange will handle international cargo-fixing, but most of the business in the initial stages is expected to be domestic.
The establishment of the exchange was welcomed by an official for ORG, GPE's ORDINAL-largest shipping company and its largest in domestic trade.
""The exchange may help cut illegal competition in the shipping market,"" the official said. ""At present, there are some small shipping firms which make use of improper relationships or offer high commissions to get business.""
Exchange officials said the exchange was under the supervision of ORG and the GPE city government and would be treated for the foreseeable future as ""experimental"", in line with other new markets in GPE.",0
"Britannic Assurance on DATE promised to speed-up the settlement of cases of pension mis-selling as the insurance group reported a near PERCENT jump in its profits for DATE.
The company admitted it had CARDINAL cases classified as priority cases but said that the resources already committed to the issue would help accelerate the resolution of those outstanding.
""Our objective is to complete a substantial proportion of priority cases DATE... But that depends not only on our own resources but on the ability of occupational schemes to answer our queries,"" said ORG chief executive PERSON.
The industry was now in a much better position to clear up the backlog, he said, thanks to the work done over DATE.
Pension providers have come under increasing criticism for the delays in compensating victims of pensions mis-selling in DATE and DATE.
CARDINAL people may have been wrongly advised by the financial services industry to take out personal pensions instead of staying in occupational schemes.
A review was launched in DATE but only a tiny proportion of those affected have so far received compensation.
ORG (ORG), which regulates the sale of investment products to the public, came under heavy fire DATE for its handling of the scandal.
ORG made his comments as ORG reported a PERCENT increase in pre-tax profits to MONEY (MONEY), helped by QUANTITY boost related to DATE's announcement of a QUANTITY special bonus for policyholders.
The bonus resulted from a government clarification of ownership of 'orphan' assets -- money surplus to policyholders' needs in with-profit funds.
Under an agreement with ORG (DTI), MONEY of the QUANTITY life fund has been attributed to shareholders.
That helped lift the dividend by PERCENT to MONEY per share, which ORG said would provide the basis for double-digit dividend increases in the future.
Britannic shares added MONEY to MONEY.
Following a strategic review of its businesses, the company said it would be looking to build on its brand, investment management, distribution skills and product development capabilities to deliver enhanced value to shareholders and policyholders.
It also said that reversionary bonus scales for traditional business -- bonuses added to policyholder's investment during the course of the policy -- would be unchanged with modest reductions in DATE bonus rates for unitised business.
Terminal bonuses for traditional business have been maintained.
New regular premiums rose PERCENT to MONEY in DATE and single premiums PERCENT to MONEY.
It was also announced that PERSON has been appointed to the ORG board as sales and marketing director. ($ = MONEY)","The head of CARDINAL of ORG largest corporate investors said on DATE he expected the number of traditional ORG at ORG to continue to fall to a core of CARDINAL.
PERSON, chief executive of ORG, told ORG it was likely that the number of members' agencies looking after ORG' interests would drop to CARDINAL.
Angerstein owns PERSON, CARDINAL of the biggest remaining members agents, representing CARDINAL Names.  
Stace said the aim was for PERSON to remain one of the top surviving members' agencies with around CARDINAL Names.
Angerstein's operations director PERSON said ORG CARDINAL plus remaining ORG would be faced with resigning membership, converting to some sort of limited liability or remaining as unlimited liability backers.
Around half are expected to resign in DATE or convert to limited liability schemes.
Despite a number of schemes being set up to allow conversion to limited liability, these had so far been small and unsuited to mass conversion.  
""NORP limited liability ORG has not been that succesful. I don't think it is the answer to mass conversion,"" said PERSON.
Angerstein has an interest in finding a solution to the conversion problem and like many others was working on it, but it was too early to say how long this would take, he said, adding that any scheme must be relatively simple.
An announcement is also likely by DATE on the question of solvency ratios for individual names, ORG said.
At present, names must put up liquid assets of PERCENT of their underwriting limit, while ORG in pooled underwriting arrangements, known as MAPAs, must put up PERCENT.
Most corporate investors do not enjoy such a high level of gearing and pressure is mounting for a change in the rules applying to ORG.
""DATE MAPAs solvency will change,"" Stace said, adding that his personal opinion was that three-to-one for ORG was probably appropriate.
-- GPE PRODUCT +44 CARDINAL 7721",1
"This DATE's rally on ORG, GPE's biggest equity market, will stretch through DATE and may last until DATE, analysts forecast.
""I think ORG is in the middle of a bull market,"" said PERSON, chief investment strategist with ORGamp; ORG in GPE.
NORP equities investors have enjoyed spectacular gains DATE. GPE's key CARDINAL Composite Index jumped PERCENT in DATE and was up PERCENT after a correction in DATE.
By contrast, the Dow Jones industrial average, which GPE generally tracks, was up PERCENT DATE, down from a peak of PERCENT.
Analysts said GPE's market -- the ORDINAL most active worldwide -- would continue to benefit from poor bond yields, which make stocks more attractive.
Bond yields have dropped across the board DATE, with CARDINAL basis points shaved off the return of GPE's DATE benchmark bonds.
Most of the CARDINAL analysts polled by ORG said GPE's CARDINAL index DATE would break its all-time high of CARDINAL points, set on DATE. The index was at CARDINAL on DATE.
Analysts' median estimate for the CARDINAL index was CARDINAL points by DATE, rising to CARDINAL by DATE's close.
""We're in a general long-term uptrend,"" said PERSON, technical analyst for ORG in GPE. ""The stock market is still going to be the best place to invest given the relatively low interest rates.
""We will start inching up, but even if we do get CARDINAL or CARDINAL interest rate hikes in DATE DATE -- which I think is going to cause a correction in the markets -- it's not going to put bonds or bills at a competitive enough level,"" PERSON said.
PERSON, senior vice-president at brokerage ScotiaMcLeod Inc, said NORP equities were being snapped up by the large baby boom population focusing on generating wealth for retirement amid the uncertain future of government pensions.
""I think that basically we're into fairly firm markets right through until DATE,"" PERSON said. ""Demographics are certainly helping here.""
PERSON, president of ORG, predicted GPE's heavily weighted resource sectors could push the CARDINAL index to CARDINAL by DATE and to CARDINAL DATE.
""I see (it) potentially higher than that if we can get precious metals ... and base metals joining the party,"" PERSON said.
GPE-based portfolio consultant PERSON forecast the index would climb to CARDINAL by DATE and CARDINAL by DATE.
But some analysts were more bearish, with PERSON, president of GPE-based ORG, predicting the index would sink to CARDINAL by DATE and CARDINAL by DATE.
Ing said interest rate hikes would cut the party short.
""The inevitable increase in rates has got to happen sometime within DATE and that will test the markets,"" Ing said.","GPE gave new hints on DATE that its DATE austerity programme was over, pronouncing its anti-inflation fight a success and saying the new task was ensuring stability as the nation prepared to recover GPE.
GPE's top leaders, after winding up DATE of meetings on the economy, also said a key goal DATE was to speed reform of ailing state enterprises.
""After DATE of strenuous efforts, our national economy has had sustained, rapid and healthy development. The main task of keeping inflation under control has been achieved,"" the official ORG said in its report on the meeting.
""DATE is an important one in our history as it marks the recovery of GPE and the year of the ORDINAL ORG congress,"" the official ORG said in a commentary that also called for economic progress in the midst of stability.
GPE slapped tight controls on government spending in DATE to keep mounting inflation in check.
The credit curbs are likely to bring inflation below PERCENT DATE, compared with PERCENT DATE and a NORP-era high of PERCENT in DATE.
The fall in inflation has allowed GPE to cut interest rates twice DATE.
Many economists have been expecting a further easing of monetary policies in DATE as GPE is expecting a smooth handover of GPE and social stability ahead of the key policy meeting of ORG.
The NORP colony reverts to NORP rule on DATE and political planners in GPE have been eager to ensure that there are no social or economic dislocations in the territory or on the GPE mainland to mar the transfer of power.
The party congress, scheduled for DATE, is widely expected to result in an infusion of cash into the economy to bolster the standing of the current leadership as party personnel matters come up for discussion.
Merchant bank ORG recently forecast credit expansion of PERCENT DATE, compared with PERCENT DATE.
""Naturally there will be some easing (of monetary policy) DATE,"" said PERSON, an economist with ORG under ORG, or cabinet.
He added that the monetary easing would be limited, and would not trigger a new round of inflation.
""The focus is relatively quick economic development under the premise of stability,"" he said.
Other economists agreed there would not be a return to higher inflation.
""If we have an adjustment, it will be a small one,"" said PERSON, director of the economics institute of ORG.
He added that reform of state-owned enterprises was still the key problem facing GPE's economic planners.
State-owned enterprises have been losing money and massive subsidies have been draining state resources.
Political leaders fear that cutting off these subsidies would lead to layoffs and social unrest though economists have said the strength of the economy gives planners a chance to tackle this problem now.",0
"GPE issued tough new rules on the handling of blood products on DATE in a move that follows the sale of HIV-tainted blood serum.
The official ORG said the rules covered the production and distribution of blood products and set strict supervisory standards throughout the health industry.
It also said the CARDINAL-word ruling set harsh punishments for violators, though it gave no details of the regulations themselves and made no mention of the discovery DATE of tainted blood products manufactured and sold in GPE.
But the news agency underscored the importance of the order by noting that it had been issued by ORG, or cabinet, and signed by Premier PERSON.
In a highly unusual move, GPE's ORG admitted in DATE that some samples of blood product serum albumin made under LAW brand name were contaminated with HIV, or Human Immunodeficiency Virus, which can lead to AIDS.
GPE's ORG began a national drive to test all blood products after the discovery of the contaminated product in the southern province of GPE in DATE.
Health officials banned the sale of at least some types of the product and ordered the destruction of stockpiles.
Officials in GPE, contacted at the time of the ORG announcement, declined to give any information on the manufacturer, explain how the product became tainted or say how much of it was on the market when the action was taken.
The number of reported HIV cases in GPE stood at CARDINAL by DATE.
But NORP officials have quoted health experts as saying they believe the actual number was anywhere from CARDINAL as many cases go unreported.
A total of CARDINAL people have been infected with AIDS in GPE, according to the official media.
GPE has been grappling with growing drug abuse and prostitution, and experts warn these CARDINAL problems could increase the number of AIDS cases.","Heavy losses in metals trading by a young employee at big NORP conglomerate ORG showed striking similarities to PERSON deals that humbled ORG, a top ORG official said.
CITIC -- ORG -- had learned a bitter lesson from the DATE losses and had stepped up its internal controls, group executive director PERSON said in an interview.
""There were a lot of similarities,"" PERSON said of the ORG and ORG episodes.
""We realised the seriousness of risk,"" he said.
CITIC has gained a reputation of being one of GPE's best run companies, expanding its operations to power, telecommunications, banking and real estate. It is probably best known for its GPE-listed unit, ORG.
Its big losses in DATE were all the more surprising to many foreign businessmen.
The key figure in ORG's trading was PERSON, in his early 30's, who worked at the ORG office.
Like PERSON, who was DATE when his big losses on GPE's ORG exchange emerged, PERSON was not a university graduate.
He had worked his way through to his trading position, taking a post as a bank clerk after finishing high school.
Also like PERSON, he is now in jail -- along with his supervisor, the former president of the GPE operation.
""Not only was the background of the trader similar (to PERSON) but so were the trading methods as well.""
PERSON said that losses stemmed from unauthorised trades on ORG, and that broker credits compounded the problem.
""He didn't have any money. He used ORG broker credits,"" said PERSON of the GPE trader.
Asked if special accounts were used to hide losses -- as in the ORG case - PERSON said: ""You could say it was exactly the same.""
Auditors were also unable to make sense of the trading accounts, he added.
But unlike ORG managed to survive the losses, which were MONEY compared to PERSON's, which neared MONEY.
PERSON said the losses still nearly bankrupted the ORG operations.
""We have stepped up our internal controls,"" he said, adding that other prominent cases - such as ORG's copper trading losses -- had been instructive in reducing future risk.
ORG's subsidiaries are no longer allowed to conduct operations unrelated to their core activities.
CITIC has also stopped all commodities trading on foreign markets, in line with a central government directive.
Asked if the company might return to the market, PERSON said this was unlikely in the near future.",1
"ORG is approving new drugs and medical devices at a rapid clip DATE, heartening drug and device companies that have long criticised the agency.
In DATE, the agency cleared for GPE marketing CARDINAL new drugs, up from CARDINAL approvals in DATE, the agency said.
In the same period, CARDINAL new medical devices were cleared, up from DATE, according to a tally kept by ORG, an investments firm.
""What you are seeing is the culmination of improvements in the review system that date back DATE or more,"" said ORG associate commissioner for public affairs PERSON.
Even long-time ORG critic ORG and ORG, or PHARMA, sounded congratulatory, albeit with reservations. ""Improvments have been made in DATE,"" said PERSON, PHARMA spokesman.
CARDINAL bills before ORG that proposed more flexible and shorter ORG new drug reviews died without action with the adjournment of the ORG and ORG DATE, a sign that the agency's actions have blunted attacks from outside critics.
Drug and medical device industry analysts said faster ORG approvals are helping companies in both sectors by reducing their research and development risks.
DATE, companies had complained that burdensome GPE regulatory oversight threatened to drive GPE drug and medical technology research to LOC, known for speedier reviews.
But a study released DATE showed the ORG's median review time for new drugs approved in DATE was DATE, as fast as that of GPE and faster than those of GPE, GPE, GPE, GPE, GPE, GPE and GPE, according to the ORG. The study was conducted by the NORP-based ORG, the agency said.
""In DATE, the GPE is reviewing and approving ... faster than any other country,"" PERSON said.
He credited internal reforms at the ORG largely to passage by ORG in DATE of the Prescription Drug User Fee Act, which made more money available to the agency through a system of user fees imposed on companies.
Those revenues have paid for the hiring of more reviewers and upgrading of ORG information systems, he said.","ORG and ORG so far have convinced the courts that their MONEY merger plan should proceed, but they still need to win over unhappy shareholders who favour ORG higher bid.
Lawyers and financial advisors were expected in DATE to consider several plans aimed at persuading investors to approve a crucial measure needed for the deal.
Meanwhile, ORG said DATE that its $MONEY cash tender offer for PERCENT of ORG shares, which represents the ORDINAL part of its plan to buy ORG, was oversubscribed.
The proposed stock and cash transaction has angered many investors, who prefer an all-cash MONEY offer by ORG, based in GPE, GPE
GPE-based ORG has rejected the ORG offer of $MONEY a share, saying the union with ORG provides more strategic benefits.
Sources close to the companies said no final decision has been made about how to woo ORG shareholders, but options include sweetening the stock portion of the deal or setting a ""collar"" to guard against price volatility.
They will also consider revising the deal's terms to accelerate payment to investors, according to the sources, who did not want to be identified.
The CARDINAL companies could also decide to keep the terms unchanged, betting that shareholders will ultimately choose the ORG offer over ORG offer, which cannot be formally considered by ORG until DATE.
""There's only one thing they can do and that's to sweeten the offer. I don't know how they're going to get enough votes if they don't,"" said PERSON, managing director at investment firm ORGamp; ORG, which holds CARDINAL shares of ORG.
GPE, Va.-based ORG and ORG declined to comment on their plans, but acknowledged DATE they were discussing increasing the value of the pact upon its consummation.
Sources close to the companies said there is no rush to make a decision, noting that ORG can easily postpone the shareholder vote that is now slated for DATE.
ORG and ORG won a significant victory DATE when a GPE district court judge denied a request by ORG to block the ORG-Conrail deal. An appeals panel also declined to block the ORDINAL step of the deal.
PERSON, meanwhile, withdrew its motion for an expedited appeal of the federal court ruling that allowed ORG to buy the PERCENT stake in ORG, since the tender offer expired at TIME on DATE.
But a group of ORG shareholders pursuing a lawsuit and appeal similar to ORG did not withdraw their motion for expedited appeal. The group urged the court on DATE to hear an expedited appeal and ""sterlize"" the PERCENT ORG stake by preventing ORG from voting it at a shareholders meeting needed for the merger to occur.
Because GPE corporate law prohibits a company from buying PERCENT of another company in a cash tender offer, shareholders will be asked in DATE to approve a measure that would permit ORG to buy PERCENT.
The ORG-Conrail transaction calls for ORG to buy PERCENT of ORG shares for $MONEY per share in cash and exchange PERCENT for ORG stock.
Sources close to the company said ORG and ORG were well aware of the potential difficulties in winning the necessary votes.
Industry experts believe shareholders may be more willing to approve PERCENT measure if they were guaranteed more favourable terms for the stock portion of the deal.
""They can't get the vote until they improve the back-end of the deal and they know that,"" CARDINAL takeover specialist said.
Meanwhile, ORG stock tumbled, reflecting the expiration of ORG's tender offer. The stock fell MONEY on ORG.
Based on DATE's stock price, the ORG transaction values shares of ORG at MONEY each. The stock portion of the deal would be exchanged at a value of MONEY for each ORG share.",0
"The brouhaha over PERSON's intercepted telephone call has shed light on how easy it is to eavesdrop on cellular calls and how seldom cases are prosecuted -- even though the law is violated DATE.
""It's had the chilling effect of reminding us all that anyone at any time could be listening to our most private conversations,"" Rep. PERSON, a GPE NORP, said of the widely publicized incident involving the ORG speaker.
Tauzin, who chairs ORG telecommunications subcommittee, has called for hearings into cellular privacy.
Federal law makes it a crime to intentionally intercept or disclose the contents of a telephone call, regardeless of whether it is over a hard-wired, cellular or cordless phone.
But experts can cite only a handful of cell-phone cases that have drawn publicity. Politicians have been involved.
ORG spokesman PERSON said that in the case of cellular calls, the law is ""seldom used"" and the department ""seldom"" gets complaints.
For CARDINAL, people rarely know when they have been overheard on their cell phone. And the complicated law is little known.
In once case, Sen. PERSON, a GPE NORP, got into hot water in DATE over an illegal tape recording of a cellular call made by a political rival, GPE Gov. PERSON. Robb was spared indictment. CARDINAL associates pleaded guilty in the case.
Another case in DATE centered on an intercepted cell-phone conversation involving then-Rep. PERSON, a NORP from GPE.
Tapes and transcripts of the call -- in which Sarpalius spoke with a young woman about a date and a possible job -- were made available to local media. CARDINAL unrelated men were later fined MONEY each in connection with the incident.
Why the dearth of legal action?
""Violations of this law are very, very hard to detect. That is why there are so few cases,"" said PERSON, a law professor at ORG in GPE.
""The person whose privacy is invaded usually never hears about it and so does not alert authorities.""
What's more, the eavesdroppers usually are not familiar with the people they are monitoring. Penalties generally are light, except in cases involving repeat offenses or use of the information to commit another crime.
The only times a case does seem to arise is when the perpetrator tries to capitalize on the conversation.
""It doesn't come to light unless somebody makes political or commercial use of the information,"" said PERSON, a law professor at ORG in GPE.
Yet experts agree the law is broken frequently -- possibly CARDINAL of times a day -- given the availability and use of scanners that can tune in wireless calls. It's estimated that anywhere from CARDINAL scanners are in use nationwide, many able to eavesdrop on cellular calls.
""While the cellular industry may give their customers the illusion of privacy by assuring customers that it is illegal to listen, and that cellular-capable scanners are no longer manufactured or imported into GPE, CARDINAL of NORP do listen in,"" according to PERSON, publisher of ORG.
DATE, the ORG opened an investigation into the taping and leaking of a telephone conference call between PERSON and his top lieutenants. The probe came after a GPE couple said they  delivered a tape of the cellular phone conversation to the senior NORP on ORG.
A transcript of the tape was published in DATE, prompting NORP calls for an ORG criminal probe into the source of the leak.
""You're not going to see the law enforced unless it involves a person of rank, such as a politician,"" said PERSON, a GPE, GPE attorney who was fined in the GPE case. ""You won't see the media prosecuted either.""
CARDINAL option under study in wake of the PERSON incident is whether to beef up a law that outlaws the sale, manufacture or imporation of scanners capable of picking up cellular calls.","The television and entertainment industries vowed DATE to use only their system for rating TV programmes and promised to reject -- by legal means, if necessary -- any government-imposed plan.
Following months of work, a group of TV and GPE executives are scheduled DATE to unveil plans for a system to rate shows based on their suitability for kids of different ages, especially those DATE.
It will be similar to the DATE system of letters and numbers used by the motion-picture industry and which includes the ratings G, PG, PG-13, R and NC-17.
""We will not use any other TV rating guidelines other than the ones we are going to announce DATE,"" said PERSON, chief executive of ORG and head of the ""implementation group"" developing the ratings.
But parental groups, children's advocates, educators and some key lawmakers -- including Representative PERSON, a GPE NORP -- have demanded that the group include a content-based system specifying the level of sex, violence and bad language.
Lawmakers have not ruled out a legislative fix.
""It is clear that the industry has so far failed to respond adequately to the fundamental interest of parents in knowing the specific content of TV shows in advance,"" PERSON said at a news conference accompanied by other lawmakers and groups pushing for a content-based system like the one now used by the ORG cable channel.
At a press conference responding to PERSON, ORG lashed back. He accused PERSON of trying to use government as a ""big brother"" to impose his own scheme. And ORG vowed not to bend under pressure and alter his group's system.
""We're not going to change a word of it. We're not going to redot an 'i' or recross a 't,'"" ORG said. ""If there is any intervention by government, we're going to be in court in a nanosecond.""
ORG also must approve or reject the ratings system. If it were to reject it, the agency could call for development of an alternative plan -- one that ORG said the industry would ignore.
Once the ratings are implemented in DATE, ORG did say the industry would revisit the system after DATE to determine whether it should be changed or ""tweaked.""
""Is it perfect? Of course not. All subjective systems are flawed. So is ours,"" ORG said.
The ratings -- expected to include CARDINAL broad categories -- will not apply to news, news magazine shows such as ""TIME"" or sports. TV networks and syndicators will issue the ratings, with the categories ""mingling"" age and content, according to ORG.
Proposed guidelines leaked to the media include CARDINAL for children: ""TV-K"" for kids and suitable for all ages; and ""TV-K7"" for children older than seven.
The other CARDINAL are: ""TV-G"" for general audiences; ""TV-PG,"" parental guidance suggested; ""TV-14"" for parents strongly cautioned; and ""TV-M"" for mature audiences only.
The rating are to be used in conjunction with a ""V-chip"" installed in TV sets that allow parents to block out shows they consider too violent or racy.
The ORG system, developed in DATE, offers ratings such as ""MV"" for ""mild violence,"" ""ORG"" for ""strong sexual content"" and ""AL"" for ""adult language.""
But ORG said that system is unworkable and is too complicated to appear in TV listings in the newspaper.
He also said a CARDINAL-member monitoring and oversight group will be created to oversee the new ratings. It will include a chairman and representives from the creative side of the industry, TV broadcasters and the cable-TV industry.",1
"The longer-term interests of a MONEY stake in NORP equity markets dictated DATE decision to unwind a controversial fund that planned to invest in NORP gas monopoly Gazprom, ORG said on DATE.
""We've had to sacrifice the smaller interest in Gazprom to the much bigger interest we've got in GPE overall,"" PERSON, ORG managing director, told ORG.
GPE-based ORG decided to back away DATE from a dispute with Gazprom over a MONEY fund designed to invest in the domestic shares of the gas giant.
""We don't want to get into a lengthy legal battle and jeopardise our (other) NORP funds,"" ORG said.
""Gazprom is the biggest company (in GPE) and we certainly don't want to go up against them,"" ORG said.
Gazprom restricts foreign investment to PERCENT of share capital, which it issues in the form of ORG.
These ADRs trade at CARDINAL times the value of the domestic shares, which ORG's fund hoped to purchase because it was incorporated in GPE -- even though all the fundholders were foreign institutions.
Mellon defended the scheme on DATE as ""completely legal"" but said Regent backed away from a dispute with Gazprom after it asked Regent not to buy the domestic shares.
""There was never any question of foreigners getting their direct hands on the shares,"" said ORG.
""If you consult any lawyer they'll tell you our scheme is absolutely watertight, completely legal, but from a practical point of view it's all very well for Regent to go up against ORG but it would be very foolish of us to go up against Gazprom,"" he added.
Regent owns CARDINAL of PERSON and has been arguing forcefully that the bank is better broken up.
ORG said that while PERSON might enjoy prestige as one of GPE's last remaining independent merchant banks, it cannot compare with Gazprom which numbers GPE's current prime minister and energy minister among its former executives.
Regent's Gazprom fund hoped to attract fundholders keen to arbitrage the ADRs and the domestic share prices.
""I suppose the worry that Gazprom had was that people might sell the ADRs or alternatively not buy the next issue of ORG and buy our fund instead, which was the same issue but at a much lower price,"" said ORG.
""Or alternatively, if you were a hedge fund, you might go short the ADRs and long our fund and seek to exploit the gap.""
So far, PERCENT of the foreign allotment of PERCENT of share capital have been issued, ORG said.
However, ORG argued that the fund was Gazprom's idea in the ORDINAL place and based on an arbitrage long-practiced by NORP brokers.
Timing was probably the root cause of the difficulty.
""Only once we got the money did they come out against it,"" ORG said. ""CARDINAL suspects its definitely in their interest longer-term to have the local share price higher versus the offshore price. In the immediate term it's not in their interest because they wanted to raise more ADRs.""
Gazprom's domestic shares were trading at MONEY on DATE against US$MONEY DATE. The GPE-traded ADRs, equivalent to CARDINAL underlying shares, at US$MONEY against MONEY DATE.
-- GPE (CARDINAL) 2843 6470","ORG, the investment banking arm of ORG, said on DATE it had agreed to buy out ORG stake in their CARDINAL joint venture, PERSON.
The announcement ends a short and bumpy association between one of the world's biggest banks and PERSON, a GPE-based conglomerate led by PERSON, one of the leading candidates for the post of chief executive following GPE return to NORP sovereignty DATE.
ORG said recent trading scandals around the world have made it more difficult for joint ventures to operate under NORP rules in NORP markets with the highest growth, such as equity and derivatives trading.
""We did recognise at a very early stage that there was a certain amount of risk we could accommodate within the joint venture vehicle,"" said ORG newly appointed chairman for LOC, PERSON.
""We were perhaps not bargaining on a series of events around the world in a variety of traded markets that would cause such scrutiny of trading businesses,"" he said. ""The whole environment has tightened up considerably.""
Terms and details of the deal were not disclosed, but ORG said both partners had contributed MONEY in capital towards the joint venture before the shareholders went their different ways.
The move followed DATE announcement that ORG was pulling out of the fund management arm of the joint venture because of its acquisition of NORP pension giant PERSON  earlier in DATE.
""I think that might have caused some disagreement between the shareholders,"" said PERSON, analyst at ORG.
But representatives of both companies denied that termination clauses in the original joint venture deal signed in DATE were enacted.
PERSON, managing director of ORG, said his company had no immediate plans to replace the joint venture with another financial services subsidiary, but instead would focus on its goal to act as a bridge between GPE and the rest of the world.
""Financial services isn't the ORDINAL thing that comes to mind,"" he said, but declined to elaborate.
Analysts warned that although the break-up will not affect PERSON's earnings, it could signify a substantial strategic setback for a company with stated plans to diversify its earnings base away from LOC's volatile property sector.
""They've always said they wanted CARDINAL major operating divisions by DATE and financial services was going to be one of them,"" said another analyst, who declined to be identified.
""Now that the joint venture is gone some people may be wondering what the commitment is to diversifying the earnings base.""
Some analysts said the joint venture had failed to perform as well as expected, and company projections of a break-even date by DATE were unduly optimistic.
""Investment banking in LOC is a very competitive market,"" CARDINAL analyst said.
-- GPE (CARDINAL) 2843 6441",1
"ORG cargo unit in GPE thinks it will move significant amounts of air freight from the territory to GPE via its new service to GPE from GPE.
""We think there is a big market out there which is rising and that we can compete effectively via GPE,"" said PERSON, Assistant Manager for PERSON (GPE) Limited, Virgin Atlantic Cargo's GPE agent.
PERSON told ORG that Virgin is offering a dedicated LD-3 container for NORP bound cargo on its DATE flights from GPE to GPE.
He said ORG's new, CARDINAL times a week service to GPE from GPE which began on DATE can do well despite being a ""ORDINAL class carrier.""
Virgin will begin flying a new shorter route to GPE from GPE overflying GPE on DATE which will permit it to carry an extra QUANTITY of freight westbound.
Direct services to GPE from GPE are flown by ORG and NORP.
PERSON says other airlines offering indirect competition on the route include ORG in GPE, GPE's PERSON via GPE, ORG via GPE and ORG via GPE.
Chan said the main ex GPE exports bound for GPE will be electronics, clothing and general freight. - Air Cargo Newsroom Tel+44 171 542-7706 Fax+44 171 542-5017","The architect of GPE currency link to the GPE dollar on DATE defended the peg's continued existence well beyond the NORP colony's return to NORP sovereignty DATE.
PERSON, the author of the DATE paper upon which the peg was based, said GPE must uphold the currency link to comply with LAW, GPE future constitution.
""If (GPE is) going to respect and honour the letter and spirit of LAW then it is going to be quite difficult to move from this currency system to anything else, and I think that has tremendous value in terms of stability for the future of GPE,"" said PERSON, who is now chairman and chief economist at ORG.
Greenwood said articles outlined in LAW require GPE to preserve key features of the existing system, such as maintenance of PERCENT reserves for the GPE dollar float, full convertibility and the existence of private banknote issuers with reserves held by the government.
""In my view, unless the (NORP) government intends to undermine completely LAW, it will find it very difficult to depart from the linked rate system for the GPE dollar as it operates DATE,"" PERSON said.
Although LAW is silent on the mechanism or rate at which the currency should be pegged, most proposals for change are impractical and very risky, he said.
Any change in the rate of HK$7.80 to the GPE dollar or a switch to another currency or basket of currencies would reduce prized stability created by the existing system, while non-convertibility of GPE's renminbi would make any integration of the CARDINAL currencies virtually impossible, he said.
""I would argue that in order to become a reserve currency, the renminbi would be required to be fully convertible with no trade and capital controls,"" he said.
GPE hopes to attain convertibility of its current account by DATE, but broad and deep capital markets will be required before full convertibility of its capital account would become possible, he added.
PERSON also said the peg's ability to withstand upheavals, such as GPE's FAC crackdown in DATE and global stock market instability in DATE, suggest a speculative attack before the transition at midnight on DATE was extremely unlikely.
""If for some reason there was political shock, then we might see some kind of speculation. But in the absence of that, I would not expect large-scale speculation,"" he said.
-- GPE (CARDINAL) 2843 6441",0
"ORG stock surged ahead in heavy trading on the strength of its DATE earnings report, but while its success fueled gains in the stocks of PC makers, the ORG report did little to buoy other chipmakers.
Still, analysts said ORG's share gains DATE remained restrained by uncertainties over whether DATE ramp-up might lead to a reduction in DATE orders, a concern magnified by ORG's unwillingness to make forecasts.
At TIME DATE, ORG stock was up CARDINAL at CARDINAL, after trading CARDINAL near the opening of trading.  
Stocks of personal computer manufacturers who rely on ORG micrprocessors also showed significant gains, as investors saw ORG's order surge as confirmation of strong demand for the machines themselves.
ORG was up CARDINAL to CARDINAL. ORG gained CARDINAL to CARDINAL. Gateway 2000 Inc swelled CARDINAL to CARDINAL.
""The ORG report was clearly a positive for the whole PC industry,"" said veteran chip analyst PERSON of PERSON. ""It is an endorsement of our view that we are in for a strong upgrade cycle for DATE,"" he said.  
Chips, a PC graphics chip maker, released its own strong earnings report DATE, with income of $MONEY per share in DATE versus $MONEY per share in DATE.
Other gainers in the segment included ORG, which was up CARDINAL to CARDINAL, after rising nearly CARDINAL points DATE.
Despite these gains, the ORG Index of CARDINAL leading chipmakers was down CARDINAL points on DATE to CARDINAL. There were CARDINAL advancers, including ORG, compared with CARDINAL losers. CARDINAL was unchanged.  
Securities analysts said ORG's latest results demonstrate how fundamentally different it is from other semiconductor makers, operating as it does with a virtual monopoly over microprocessors, the core chips of PCs.
Indeed, ORG has benefited from the pain endured by other segments of the seminconductor industry throughout DATE, especially suppliers of memory chips used in PCs.
Memory chip prices have fallen by PERCENT in DATE.  A QUANTITY memory now sells for CARDINAL less than an QUANTITY memory did DATE but has CARDINAL times the processing power, noted ORG's PERSON.  
TIME, for instance, ORG, a leading GPE memory chip maker, reported sharply lower operating income for DATE of MONEY versus MONEY DATE.
Correspondingly, the percentage of revenues ORG derived from ORG (DRAM) computer memory chips in its DATE fell to PERCENT of company revenues from PERCENT DATE.
ORG has cut its own prices by CARDINAL or PERCENT on processors since DATE.  The combined price cuts have spurred order growth ORG is now seeing, PERSON said.  
PERSON's PERSON noted that while the industry revenues are expected to down PERCENT in terms of dollar growth, ""ORG will grow PERCENT in terms of top line, DATE revenues.""
Excluding the wounded memory chip makers, which account for PERCENT of the semiconductor industry, the chip industry is due to grow PERCENT worldwide DATE.
""That says it all,"" PERSON said adding that, ""ORG is so clearly head and shoulders above the rest of the industry.""  
ORG, which DATE had reported earnings of $MONEY per share in its DATE, swept past Wall Street's consensus expectations of $MONEY per share for DATE.
Securities analysts responded DATE with a wave of higher earnings estimates for ORG's DATE.
While trading volume in ORG had reached CARDINAL shares by TIME, gains in the share price were tempered by lingering questions about whether ORG would see its surge in sales carry through DATE.
ORG did not respond directly to such concerns in a conference call with analysts DATE, citing a proposed law on the GPE ballot in DATE that would make executives and directors liable for financial forecasts they made.
In addition, some investors appeared to be capturing the recent gains in ORG stock, said ORG analyst PERSON, who nontheless reaffirmed his buy rating and set a new DATE target price of $MONEY on the stock.
""The stock has done so well that clearly some people are going to take some profits,"" Gumport said.  ORG traded at CARDINAL only last Thursday.  The stock hovered CARDINAL in DATE.
-- PERSON, GPE, CARDINAL-859-1736","Growing numbers of impoverished women from mainland GPE are flocking to GPE to work as prostitutes following a deportation policy that is driving away NORP and GPE women, police said on DATE.
Arrest data supplied by ORG show that mainland LANGUAGE now dominate the prostitution workforce in the sex trade centre of GPE, and their numbers are rising to meet demand following the departure of other nationalities.
""You can see the supply curve in the figures,"" said chief inspector PERSON of the GPE vice squad in GPE.
""We're getting CARDINAL-way permit holders being brought in from GPE. Some want to come in, others are duped into it,"" he told ORG.
CARDINAL-way permits allow NORP nationals to visit the NORP colony for strictly limited short periods of time.
Working as a prostitute is not illegal in GPE -- unless the woman is present on a tourist visa. Related activities such as pimping and soliciting are offenses.
The nationality shift in the prostitution workforce is gaining momentum following DATE policy changes that allowed police to arrest and imprison prostitutes on visitor's visas.
Before DATE, these women -- mainly NORP, GPE and NORP -- were immediately deported but frequently returned to the territory. PERSON said the threat of a prison term is now a powerful disincentive for many of these women to return.
NORP women are taking their place in the countdown to GPE return to GPE on DATE.
Police said they arrested CARDINAL CARDINAL-way permit holders working as prostitutes in GPE in DATE compared with CARDINAL in DATE, CARDINAL in DATE and CARDINAL in DATE.
Meanwhile, the number of arrests of ORG, GPE and NORP women fell to CARDINAL in DATE from CARDINAL in DATE and CARDINAL in both DATE.
Many of the mainland NORP women are supporting families back in GPE, said PERSON, a GPE journalist who will have a book about prostitution in the territory published in DATE.
""They go into prostitution for the money...and the families are very proud of them. They come back with money and the families don't ask any questions,"" ORG said.
""Although there are many mainland women in the south doing this there is a great of difference between what they will do in their hometown and what they will do in GPE or GPE.""
Many of the women are from northern GPE. Prized for their height, slender build, and high cheekbones, these women are making what is, for them, an unimaginable fortune by selling their bodies in GPE.
Police said some women allowed to stay in GPE for only a short period of time try to work as many customers as possible, charging about HK$400 (US$MONEY) an hour.
They take home CARDINAL of that amount.
""Some are seeing CARDINAL a day. Obviously, that's a good day and they can't do that every day, but on average they're doing CARDINAL a day,"" PERSON said.
Many of the women are brought in by syndicates, paying MONEY for a CARDINAL-way permit or agreeing to see CARDINAL customers without pay to earn their passage, ORG said.
Many make their way into GPE from GPE, just across the border. Those with papers come in by train while illegal entrants pay a fee to ""snakeheads"" operating speedboats to drop them off at remote villages in GPE.
PERSON said it's virtually impossible for immigration officials to identify mainland NORP prostitutes at the border if they are carrying legitimate papers.
($MONEY=HK$7.8)",0
"ORG proposed DATE to set aside MONEY a year to link schools and libraries to the Internet at discounted rates, but declined to endorse President PERSON's call to hook them up free of charge.
Eligible institutions could buy access to the computer network at discounts of PERCENT, under the plan offered by an CARDINAL-member board of state regulators and members of ORG.
""Schools will be able to connect every single classroom to ORG,"" said ORG Chairman PERSON, who oversaw the panel.
""The ramp will be a high-speed, high-bandwidth, cutting-edge connection. The discounts, tailored to each school's individual level of need, will make building and maintaining the ramp truly affordable for every school.""
The Internet proposal is part of a broader plan to overhaul the multi-bilion dollar ""universal service"" program that ensures affordable phone service to rural communities and low-income neighborhoods.
Officials hope the wide-ranging proposal, which stems from the new telecommunications law, eventually will generate lower phone rates through increased competition.
But some board members fear the  plan -- to be paid for from the reveneus of phone companies, cable-TV operators and other communications carriers -- may prove too ambitious and ultimately push up rates.
""A universal service fund that taxes consumers MONEY a year is not only inconsistent with congressional intent, but could be extremely harmful nationwide to consumers,"" said PERSON, chairman of ORG.
Under the Internet provision, less well off institutions and those in out-of-the-way high-cost areas would be entitled to the larger discounts.
The plan stops short of the president's proposal to give schools and libraries free basic service, with the nation's communications carriers footing the bill.
In other areas, the board left many key provisions of its proposals vague, including the cost of the federal fund that would be used to subsidize carriers that offer phone service in high-cost rural areas and in low-income neighborhoods.
Overriding the objections of some regulators, the board proposed to fund the federal program through the interstate and intrastate revenues of telecommunications carriers.
Some state regulators objected to the use of intrastate revenues, saying such funds should be used only by the states to set up their own funds that would help provide distinct telecommunications services within their borders.
The board said that the current $MONEY a month subscriber line charge that residential customers now pay should not be increased. The charge is used to help fund universal service.
And it held out the prospect that the charge -- along with the ""access"" charges long-distance carriers pay to local phone companies to hook up to their networks -- could drop if the federal universal fund is indeed bankrolled by interstate and intrastate phone revenues.","ORG said its alliance with natural gas company ORG could boost its earnings by $MONEY to $MONEY a share in DATE of operations.
""We could see earnings be improved by maybe $MONEY or $MONEY a share in DATE of operation,"" PERSON, ORG president, said in a telephone interview.
ORG alliance is expected to become effective in DATE, making calendar DATE the first full year of operation.  
According to ORG, the consensus earnings estimate for ORG is $MONEY a share in DATE, down from $MONEY DATE.
In addition, ORG, which is swapping its natural gas assets in return for about a PERCENT stake in ORG as part of the alliance, is expected to see its cash flow increase by MONEY in DATE.
""The best way to look at this transaction is on a cash basis,"" ORG said. ""And we expect this transaction to improve our cash flow in DATE of operations by MONEY.""  
The alliance also reflects ORG strategy to become a brand-name supplier of electricity and home-security products nationwide, while its natural gas assets become part of a larger, focused gas company.
""They (ONEOK) are a total gas company. They understand the gas business better than we do,"" ORG said.
In addition, ORG's CARDINAL gas customers present a marketing potential for ORG electricity and home-security businesses. With ORG as a partner, ORG hopes to offer gas supplies to customers nationwide.  
Western Resources, based in GPE, GPE, continues to look for acquisitions to expand its electricity and home security businesses.
ORG planned acquisition of utility ORGamp; PERSON is pending. In home security, ORG, which holds DATE of ORG, has made CARDINAL acquisitions related to that business DATE, ORG said.
""Obviously, we're acquisitive,"" he added.
ORG said electricity and home-security businesses are similar, beyond the common customer base of households.
""You are providing a service on a TIME basis,"" he said. ""You are monitoring a home when you are selling electricity (and with home-security services),"" he added.
((ORG Chicago Newsdesk (CARDINAL) DATE))",0
"NORP state-owned ORG said on DATE it was ready to take on the toughening competition in its domestic market posed by ORG (BA).
ORG's ORG NORP unit on DATE announced a joint MONEY bid (MONEY) with bank PERSON for domestic carrier ORG that will double its share of takeoff and landing slots at GPE' busy ORDINAL airport PERCENT.
An ORG spokeswoman acknowledged ORG's increased presence in GPE aviation would have an impact.
""It certainly has consequences for us. But we will continue with improving our product and service while cutting our costs and prices,"" she said.
BA, CARDINAL of the world's most profitable airlines, will in ORDINAL instance manage its NORP assets from a distance. ORG and ORG will operate separately at least until DATE when the latter should have returned to profit.
The Creteil commercial court will meet on DATE to study the BA/Rivaud offer while an ORG creditors meeting has the final say. Such a meeting is due within DATE.
But the way to the finish line is not without obstacles.
In GPE, PERSON ORG said it planned to raise its bid for ORG, in administration since DATE. The court-appointed administrator, PERSON, reacted sceptically.
""I have never seen any bid by Virgin so I do not see how they can increase a bid,"" he told ORG by telephone.
""Strictly theoretically, a new bid could be made just up to the moment that the creditors meet and accept the offer on the table. In the end the creditors decide,"" he added.
The pilot's union of ORG domestic unit ORG urged the government and chairman PERSON to also make a bid for ORG.
""It will allow our country to remain master of its skies. Otherwise, there will not be any NORP competition because there will be no NORP air transport industry left,"" the ORG pilots union said in a statement.
ORG is constrained from expanding in GPE until DATE, under conditions imposed on ORG for state rescue cas.
ORG dominated mestic routes and Orly airport until as recently DATE when the NORP government decided to open some major domestic routes to competition ahead of full liberalisation from DATE.
A spokesman for ORG, now renamed ORG, said the company had at the moment a PERCENT share on the total NORP market.
ORG, ORG and ORG have all tried to carve out market share ahead of liberalisation with a price war. As a result they have suffered financially.
Industry sources said ORG could strike back in DATE and make a bid for ORG to prevent another foreign airline from setting foot in GPE alongside ORG airlines in GPE are ORG, owned by the PERSON family, the PERSON family's PRODUCT airlines, ORG ORG as well as ORG.","GPE's economic growth is likely to accelerate in DATE as GPE pumps up its economy before a crucial ORG congress that may tackle nagging reform problems, state media said.
Political factors were likely to be a significant factor in a possible renewed boom DATE in one of the world's fastest growing economies, ORG quoted PERSON of ORG as saying on DATE.
However, PERSON also warned that the higher growth could see the spin-off of a renewed burst of inflation and warned of rising joblessness, giving one of the most pessimistic unemployment forecasts to be published openly in GPE.
Gross Domestic Product (GDP) in DATE could reach MONEY (MONEY), growing by PERCENT compared with an anticipated PERCENT increase DATE, the newspaper quoted PERSON as saying.
GDP grew by PERCENT in DATE and GPE's communist rulers have been trying to cool the rate slightly amid signs the economy was threatening to overheat. GPE has set a goal of PERCENT average growth for the DATE Ninth DATE.
PERSON linked his higher growth forecast to the DATE ORG congress, set for late in DATE, which he said was expected to take some difficult decisions to eradicate the low economic efficiency and operational losses plaguing CARDINAL of lumbering state enterprises.
""These political factors, if the government makes use of them smoothly, will provide strong backing to national economic performance in DATE,"" the newspaper said, quoting PERSON.
Diplomats and western economists have said GPE may try to revive an economic boom in DATE in the run-up to the party congress as part of a push to bolster the standing of the current leadership before a meeting when personnel reshuffles are a key issue.
Xu forecast retail price inflation to speed up slightly in DATE to PERCENT from an expected PERCENT DATE. Inflation was PERCENT DATE, down from a communist-era high of PERCENT in DATE.
Official media have been rife with speculation that GPE may again trim interest rates after CARDINAL cuts already DATE but central bank officials insist GPE has no plans to do anything more than ""appropriately"" adjust a DATE tight monetary policy.
PERSON said foreign trade was expected to make a strong recovery after exports slumped in DATE, especially as the government completes repayment of MONEY of export rebates to exporters.
He forecast exports to reach MONEY in DATE, up PERCENT from DATE.
PERSON urged a further cut in import tariffs DATE, a move that GPE has promised and which could lubricate GPE's bid to gain entry to ORG.
However, PERSON forecast a sharp increase in unemployment.
In DATE, the number of people out of work in the urban area could be CARDINAL, including workers left idle because of suspension of factory production, he said.
The urban jobless rate could reach PERCENT DATE if both surplus workers at factories and registered unemployed were included, PERSON said.
GPE's official registered urban jobless rate was PERCENT at DATE.",0
"CARDINAL major high tech giants, including ORG inventors ORG and ORG will on DATE unveil details of a new ""CD-ReWriteable"" (CD-RW) technology.
The technology is due to bring re-recordable CD devices to the market in DATE at prices below $MONEY, and should begin being built into top-end computers DATE.
The new format will enable users to store CARDINAL times as much data, including video and audio recordings, as a QUANTITY floppy diskette and is designed to be compatible with new CD-ROM readers and upcoming DVD-ROM drives.
""ReWritable removes the single biggest barrier to greater market acceptance of CD writing technology,"" said PERSON, Future CD Writer Product Manager at ORG ORG. ORG division in ORG
ORG, ORG and ORG are the other companies unveiling the new technology, which has been DATE in the works.
Analysts said the CD-ROM technology could eventually pressure other storage companies like ORG whose revenues have soared on the popularity of its QUANTITY PERSON drives and other storage products, and struggling removeable hard drive maker ORG..
""I think this would put some pressure on SyQuest type products,"" said PERSON, president of ORG a GPE market research firm.
""This is a higher-capacity product, so it's not going head-to-head,"" he said, noting that ORG store QUANTITY of data, a larger capacity than Iomega and SyQuest offer on their lower-end consumer-oriented models.
Because the new technology standard is designed to work with common CD-ROM readers and the new DVD-ROM technology, ORG said its introduction was ""an important step in a continuum,"" following CD-Recordable, a technology on the market since DATE that allows once-only recording.
PERSON projects the CD-Recordable market will hit CARDINAL units DATE, and the combined CD-Recordable and CD-ReWriteable market will more than double to CARDINAL units in DATE and, combined with DVD systems, grow to CARDINAL in DATE.
PERSON, director of strategic marketing at ORG, in GPE, GPE, said the new CD technology is aimed more at the space occupied by CARDINAL CD-ROMs than the floppy disk space.
The small office home office market and the high end home or small office markets are viewed as key markets for the technology as well, he added, saying the compatibility with other media made it a versatile technology.
Both Philips and ORG expect to offer devices in DATE which would be under the $MONEY price point, but at a sizeable premium to the CD-Recordable write-once equipment now selling for MONEY.
ORG said his company had reached the conclusion that without the new CD-ReWritable technology, ""the potential market would top out at a fairly low number.""","GPE's nuclear generator ORG said on DATE it would announce job cuts and cost savings on DATE which were largely expected by the market but criticised by opposition politicians.
""It is clear that ORG has not performed as they promised they would,"" Labour's energy and industry spokesman PERSON said in a statement.
A NORP Energy spokesman confirmed DATE's announcement would cover job cuts and cost savings but declined to give further details.
Analysts said they were expecting the company to outline a cut of PERCENT in its workforce of CARDINAL by DATE.
""That's what we have based our valuation on, it was the figure given to the analysts' briefing over privatisation,"" said CARDINAL analyst who asked not to be identified.
Newspaper reports DATE have said the company could cut CARDINAL posts in an effort to make cost savings of MONEY (MONEY).
PERSON called on ORG to confirm the dividend policy outlined in the company's privatisation prospectus, which warned that it was vulnerable to underperformance by nuclear power stations.
At privatisation, the company said its initial interim dividend would be MONEY per share and forecasts for final dividend are at MONEY for CARDINAL.
But Labour's PERSON said the job cuts could damage performance and see the company falling below targets. ""Performance targets anticipated in the prospectus have never previously been consistently achieved and the loss of a reported CARDINAL...staff is expected to further undermine chances of reaching them,"" PERSON said.
British Energy, which runs CARDINAL nuclear power stations in GPE and GPE, was one of the ruling ORG most unpopular privatisations when it was sold off in DATE.
It had a ORDINAL instalment price of MONEY for small investors and MONEY for institutions but slid below these levels at its debut and has rarely moved above since.
Its launch was overshadowed by concerns over its future profitability when it closed CARDINAL of its CARDINAL reactors after finding cracks DATE before shares started trading. Analysts said the job cuts had largely been outlined at the time of privatisation.
""All that has been absorbed into forecasts,"" said PERSON of ORG.
ORG shares were down MONEY at MONEY by DATE ORG, which analysts said reflected market nonchalance over job cuts. ($MONEY Pound)",0
"More NORP finance firms braced for the bitter pill of court-protected liquidation on DATE, but analysts said GPE's banking sector still faces a long road to recovery from its bad loan headaches.
The announcements were no surprise and more were considered likely as the banking sector struggles to get rid of troubled finance firms and regain its credibility.
The collapses highlighted, however, the growing worries that unexpected bad news may lie ahead and that GPE's slumping stock market could set back the recuperation further.
The latest victims were ORG, with debts on borrowings worth MONEY (MONEY), PERSON with debts of MONEY (MONEY) and ORG with debts of MONEY (MONEY).
PERSON, president of GPE-based non-bank ORG, told reporters the firm would hold a shareholders' meeting by DATE to seek approval for a liquidation filing.
The firm's major creditor banks -- ORG, Sakura Bank Ltd and Chuo Trust Banking & ORG -- were accepting its special liquidation plan, he said.
ORG cumulative debt exceeded its assets by MONEY (MONEY) as of DATE and it would be hard to improve its business despite recent restructuring efforts, he said.
""All Corp has been well-known as a troubled non-bank,"" said PERSON, a financial analyst at ORG.
""Main creditor banks have already set aside loan loss provisions to prepare for the failure and the liquidation will have no major impact on earnings of those banks,"" he said.
GPE had CARDINAL non-bank failures in DATE, including the collapse of ORG, which filed for liquidation with debt liabilities of around MONEY (MONEY). By CARDINAL measure, this made GPE the largest such insolvency case in GPE in the postwar period.
PERSON, an analyst at ORG, said banks in general have been well-prepared for possible failures of non-bank companies in DATE.
Banks are major lenders to non-bank institutions, which do not take deposits and largely depend on bank loans as sources of funds for their own lending.
""WORK_OF_ART is not the end of the problem loan mess at credit firms and people know that. Rather, worries have grown that banks may have to write off bigger problem loans to general contractors than earlier expected,"" ORG said.
A new restructuring programme unveiled DATE by ORG, a contractor and engineering company, fuelled concerns that banks would face new burdens as ailing firms seek added support in attempting to reshape themselves, he said.
The failures at ORG and ORG were not surprising, either, as the CARDINAL firms were subsidiaries of failed parent companies, banking sources said.
Banking sources said that while the impact of ORG liquidation would be limited, they were much more concerned about jitters in the GPE stock market. The closely watched Nikkei average lost PERCENT of its value DATE.
Declining stock prices whittle away unrealised profits from banks' shareholdings, reducing the amount of money available to write off problem loans and thus protracting the mess in the banking industry, they said. (MONEY)","GPE's ORDINAL-largest bank, ORG, announced a PERCENT rise in net profit for DATE, but warned that fierce competition would flatten profits in DATE.
""Everywhere you look and in every market we're in there's a lot of margin pressure,"" Westpac managing director PERSON told a news conference after the profit announcement.
""It will be tough to make a rise,"" he said when asked if profits for DATE, would be flat.
Westpac reported net profit of MONEY (MONEY) for DATE, up PERCENT on CARDINAL.
But this disguised a flat profit in DATE and was boosted by a sharp drop in bad debt charges.
PERSON said competition from non-bank mortgage originators in the housing loan sector was a key factor pressuring margins.
Mortgage originators such as ORG and ORG, who have snared PERCENT of the mortgage market from big banks like PRODUCT over DATE by offering cut price home loans.
Their entry into the market has dragged the big banks' home loan margins down from CARDINAL basis points DATE to CARDINAL points now.
PERSON said PERSON would look to boost its own mortgage origination programme to help compete against the non-banks and support its margins.
Westpac has already launched CARDINAL issue of securitised mortgages worth MONEY, the ORDINAL of the major banks to do so.
Joss said PERSON planned to multiply the size of such issues in DATE.
""The real key for us will be to try to manage our balance sheet, have more assets off balance sheets, more securitising of lower margin assets,"" he said.
""We just did one near the tail end of the (DATE, MONEY, so we would expect to see quite a bit more in DATE,"" PERSON said.
Even then, ORG would struggle to maintain its margins and would have to cut costs and increase efficiency to compensate.
The bearish earnings comments and the detail of the result saw ORG's share price close down MONEY at A$MONEY, despite the result being almost exactly the average of analysts' forecasts.
Westpac is the ORDINAL major bank to forecast flat profits in DATE because of increased competition. ORG since DATE has been forecasting flat profits over DATE.
These more sober forecasts signify the end of DATE of sharp profit rises for the major banks as they recovered from hefty loan losses in DATE and capitalised on a strong economy.
A smaller LOC-based bank, ORG, echoed this new more subdued outlook for profits in its DATE results also announced on DATE.
PERSON reported net profit of MONEY for DATE, a rise of PERCENT.
PERSON managing director PERSON said margin pressure meant it would be a challenge to improve profits in DATE of DATE. (A$MONEY = US$MONEY)",0
"Despite ORG steep decline DATE, analysts expect GPE's biggest equity market to resume its upward march and continue outperforming Wall Street in EVENT.
Early on DATE, GPE's key CARDINAL Composite Index posted its largest DATE drop in DATE, losing CARDINAL points or PERCENT to DATE.
It was GPE's biggest intraday fall since a CARDINAL point slide on DATE, DATE after the EVENT market crash of DATE.
The index has slid from a record of DATE on DATE.
GPE stocks recovered partly by DATE TIME, when they were down CARDINAL points to CARDINAL.
GPE's losses on DATE were sparked by comments DATE by ORG Chairman PERSON that were interpreted as suggesting that GPE equity markets may be overvalued.
Profit-taking also hit GPE stocks DATE as investors cashed in on recent spectacular gains.
GPE-based investment adviser PERSON forecast more weakness in DATE, before a return to strength.
""I think GPE will probably outperform GPE in DATE,"" PERSON said.
Meisels said GPE stocks traditionally outpace Wall Street in the late stages of a bull market as investors flock to GPE's natural resource sector.
This DATE's boom has been fueled by GPE economic growth and declining interest rates that prompted low returns on bonds and other fixed-income instruments, analysts said.
GPE's key index has jumped PERCENT DATE, versus a PERCENT gain by GPE ORG.
Meisels said GPE should also benefit DATE as NORP make their DATE contributions to tax-sheltered pension funds, many of which include mutual funds.
""There's an enormous amount of mutual fund money being committed to the market,"" ORG's director of investment research PERSON said.
In the near term, GPE could extend this DATE's PERCENT decline, some analysts said.
""I think we're looking at at least a (total) PERCENT correction,"" said ORG analyst PERSON.","The GPE market was boosted to another record close on DATE by strong buying interest in ORG after news broke that it is negotiating to gain control of a huge gold deposit in GPE.
ORG key CARDINAL Composite Index gained CARDINAL points to end at CARDINAL. Turnover was heavy, with CARDINAL changing hands worth MONEY (MONEY). Trading value was the ORDINAL highest ever.
PERSON, the world's ORDINAL largest gold producer, announced that it was in talks with ORG over its massive GPE discovery in GPE.
The market opened stronger, turned mixed at TIME but surged again after PERSON and ORG announced their negotiations. The NORP government had asked ORG to form a joint venture with ORG.
""That pulled the gold and precious metals sub-sector higher,"" said ORG analyst PERSON.
PERSON, the world's ORDINAL largest gold producer, has a relative weighting of PERCENT on the ORG's list of its top CARDINAL stocks. Relative weighting describes the impact a particular share issue has on the CARDINAL list.
PERSON, which saw its shares tumble, is not included in the TSE CARDINAL index.
CARDINAL of GPE's CARDINAL sub-indices rolled higher, led by golds, transports, consumer products and real estate issues.
Sectors which lost a bit of ground were media, base metals, oils and forestry products.
On the broader market, declining issues still outpaced advancing ones CARDINAL to CARDINAL. Another CARDINAL traded flat.
ORG rose C$MONEY to close at C$MONEY while ORG fell C$MONEY to end at C$MONEY. PERSON topped the most actives list, with CARDINAL shares traded, followed by ORG at CARDINAL shares.
Other active stocks included ORG, which fell after brokerage ORG cut the stock's rating to near-term neutral from near-term accumulate. Shares in the high technology products maker fell by C$MONEY to reach C$MONEY.
ORG, which is GPE's ORDINAL largest bank, slipped after it announced record DATE profits as expected. DATE profit soared MONEY (MONEY) but the stock, which had surged in DATE, dipped MONEYMONEY.",1
"NORP movies, hamburgers, jeans -- and GPE bashing -- are all the rage in GPE DATE.
GPE and GPE have gone from confrontation in DATE to odd bedfellows in DATE DATE to a love-hate relationship in DATE.
""More and more ordinary NORP people are disgusted with the deeds of GPE,"" said PERSON, CARDINAL of CARDINAL authors of ""WORK_OF_ART, a controversial bestseller which is capitalising on GPE sentiment.
For PERSON, the fondness he once had for GPE ended in DATE when GPE sent aircraft carrier battle groups to waters near GPE where GPE was conducting war games and missile tests to cow the island into abandoning any dreams of independence.
""I believe this was the turning point for most ordinary NORP people,"" PERSON said in a recent interview.
GPE sent the warships in a show of force to support GPE, GPE's rival since the end of EVENT in DATE, as GPE held historic direct presidential elections.
For some NORP, their NORP dream turned into a nightmare when GPE lost its bid to host the DATE EVENT in DATE. Many blamed PERSON.
Anti-U.S. sentiment mounted after NORP state media played up what was described as unfair and discriminatory treatment meted out to NORP Olympians at FAC.
""In the past, GPE had the wrong impression that the NORP government was NORP while the people were GPE,"" said PERSON, director of ORG of the prestigious ORG.
""WORK_OF_ART"" touched a sympathetic chord with many NORP fed up with GPE.
It has chapters entitled ""WORK_OF_ART"" and ""If necessary, create another PERSON"" in a reference to NORP leader, PERSON.
""WORK_OF_ART No"" sold so well that its authors have put out a sequel. It has given rise to a flurry of GPE books, including ""WORK_OF_ART?""
GPE and GPE have also wrangled over human rights, arms proliferation and trade. The CARDINAL giants narrowly avoided a bruising trade war in DATE and again DATE over GPE charges that GPE condoned copyright piracy.
Many NORP welcomed the re-election of GPE President PERSON DATE as the return of a devil they knew and are hoping for a new post-election approach from GPE.
""Now, a good opportunity has presented itself for improving and expanding NORP relations,"" NORP ORG spokesman PERSON said of PERSON's re-election.
GPE Secretary of ORG PERSON is scheduled to visit GPE DATE to help push that process along. GPE DATE blasted GPE penalties against textiles ahead of PERSON's visit, but said the CARDINAL sides had more in common than differences.
The NORP-GPE honeymoon began in DATE when GPE's bamboo curtain came down and the country opened up to the LOC, triggering an influx of GPE pop culture.
ORG's is now a household word to many NORP children and GPE's youth have traded DATE's navy blue PERSON suits for DATE's jeans.
GPE blockbusters, such as ""True Lies"" starring PERSON and PERSON ""Forrest Gump"", have taken GPE by storm, raking in CARDINAL.
GPE's honeymoon with GPE ended with the collapse of GPE and the NORP military crackdown on a student-led drive for democracy in DATE.
NORP-U.S. ties were dealt another jarring blow after GPE allowed a private visit by GPE's President PERSON in DATE. GPE regards GPE as a rebel province and has sought to push the island into isolation.
NORP-U.S. ties have improved since the DATE war games but GPE still suspects GPE is trying to contain it.
""GPE does not wish for the rise of a strong country which does not listen to it and does not do things according to its rules,"" said PERSON of ORG.","GPE has given the green light to corn exports but has set a minimum selling price so high above world levels that the grain is going nowhere and farmers are missing out on much-needed cash, traders said on DATE.
The selling price for QUANTITY of NORP corn has been set at US$MONEY at a time when the world price is hovering around $140-150 a tonne, sources in GPE and GPE said.
""The market is dropping so there is no reason for anyone to buy NORP corn,"" an agent working in GPE on behalf of GPE's food trading arm ORG, Oils and ORG (COFCO), told ORG.
Another veteran trader in the region said COFCO executives had told him the government had agreed in principle to the export of QUANTITY of corn.
""But there is nothing in writing,"" he said. ""We have given them bids at world price levels and they won't touch it.""
Neither COFCO nor ORG, which issues the licences, were available for comment.
NORP traders said GPE corn was now arriving at some NORP ports at $MONEY a tonne inclusive of cargo and freight (c&f).
""It's nonsense to issue such licences -- why not issue them DATE when NORP corn was cheap and buyers would have lined up,"" a GPE trader said.
""The new (NORP) crop is coming and the farmers are complaining that they don't have money to buy fertiliser. But still they effectively won't allow exports.""
Traders in LOC saw corn prices falling further. Expectations of a huge GPE harvest totalling MONEY or QUANTITY has pushed prices down by PERCENT since DATE.
Talk on DATE among traders on ORG (CBOT) that GPE was looking for GPE corn seemed misplaced, given that GPE is heading for a record crop of MONEY and has QUANTITY of corn in storage.
CBOT corn closed CARDINAL to MONEY per bushel lower in DATE trading, with DATE down CARDINAL to $2.61-3/4.
The lowest offers foreign traders and agents said they had received from NORP corn sellers, predominantly COFCO and some NORP trading companies with export permits, was $MONEY a tonne.
But traders such that price was believed to be just exploratory and was not necessarily an indication that NORP exporters would undercut the new official price to make sales.
""But so far there is no business concluded and unless the international market price is improving, there will not be,"" another trader in GPE said.
The ORG (free on board) price at GPE was $MONEY, they said.
The export permits had been issued with the tacit approval of Vice Premier PERSON, trading and industry sources said.
PERSON had also set the price, sources close to the process said, though CARDINAL of them added: ""He's no fool, he knows he won't sell a pound at that price ($MONEY a tonne) DATE"".
Corn exports were discussed DATE and spurred farmers and traders to ship QUANTITY to GPE to await the green light.
Fear of fuelling inflation and of leaving reserves low in case of an emergency stopped PERSON short of allowing exports, Western grain industry executives who have met with PERSON said.
This saw GPE miss out on the chance of earning enormous amounts of money -- $MONEY-180 a tonne -- and buying back if necessary in the current cheaper market.
""It's great for the feed industry,"" the NORP source said of the prevailing situation, echoing other sources who say NORP feed mills are buying corn hand-to-mouth as prices drop.
""And for NORP farmers -- they must love the NORP government,"" he said.",0
"Labor negotiations between ORG and ORG went around the clock into TIME as pressure from strike-related production losses mounted on the world's largest car maker.
Bargainers at ORG's world headquarters were said to be haggling over a list of plants that ORG wants to exclude from employment guarantees in the DATE national contract covering CARDINAL hourly workers.
ORG and ORG have already agreed to guarantee jobs for PERCENT of their current TIME work forces, but ORG wants to exclude several parts plants from the guarantees, including a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, now on the sale block.
""It ain't done yet,"" CARDINAL union negotiator at ORG's GPE headquarters said on DATE TIME.
ORG spokesman PERSON declined to rule out a settlement early on DATE, but would not characterize the progress of the discussions.
PERSON struggled for TIME from DATE through DATE over the proposed exceptions to the pattern, which was aimed at allowing ORG, the least efficient of GPE's Big Three automakers, to cut costs and boost productivity.
Although all CARDINAL of the companies pay a base wage of MONEY an hour, ORG and ORG buy more of their parts from lower-cost outside suppliers than ORG does.
On DATE, the ORG signaled that the talks had hit a snag when it canceled a DATE meeting of plant-level leaders here.
The ORG said its CARDINAL-member ORG is now scheduled to meet on DATE, in GPE if the union reaches a tentative agreement in DATE. The cancellation was viewed as a negative sign for a quick settlement because it buys significantly more time to craft a deal.
Meanwhile, pressure from local strikes in GPE and GPE mounted DATE as the number of workers idled by the walkouts exceeded CARDINAL.
By TIME, workers at CARDINAL plants were idled, including CARDINAL strikers in GPE and CARDINAL in GPE, GPE
The GPE plant feeds fenders, doors, hoods and other steel body panels to CARDINAL of ORG's CARDINAL NORP light truck plants, including GPE.
ORG's GPE, GPE, compact pickup truck plant also shut down DATE, idling CARDINAL workers, while ORG's GPE, GPE, plant, which employs CARDINAL workers, was expected to run out of parts DATE TIME. PERSON produces ORG and ORG compact pickups and sport utility vehicles.
CARDINAL workers were idled at ORG's GPE, GPE, compact sport utility vehicle plant DATE TIME, while CARDINAL workers were laid off at ORG's GPE, GPE, full-size pickup truck assembly plant on TIME.
In addition, 900 workers who build V-8 engines for trucks assembled in GPE and GPE were idled on DATE.
PERSON, an auto analyst at PERSON, said the GPE, GPE and Moraine shutdowns alone will cost ORG MONEY a day in after-tax lost profits.
""We're looking at MONEY a day right now, and that could easily expand to MONEY by DATE,"" Ward said.
Full-size pickup truck plants in GPE and GPE, GPE, and GPE, PERSON, could run out of parts within DATE, while a ORG truck plant in GPE, GPE, was believed to have a greater supply of parts on hand.
Layoffs from the ORG strikes were increasing as ORG's GPE car operations are still staggering from the effects of the DATE ORG strike, which ended DATE.
ORG said it still had CARDINAL workers idled by continuing shortages of NORP-made parts at CARDINAL car assembly plants, CARDINAL engine and transmission plants and CARDINAL metal stamping facilities. Lost profits associated with the NORP walkout are estimated at MONEY.","Stock in NORP waste and transportation firm ORG soared on DATE as investors and analysts applauded major moves in ambulance services and waste management worth MONEY.
While ORG's stock hit new heights on ORG, Chief Executive Officer PERSON said the company was poised for strong growth with CARDINAL huge deals announced after the market closed on DATE.
In a bid to become LOC top ambulance operator, ORG plans to acquire GPE-based ORG in a MONEY cash deal and merge it with its GPE-based ORG ambulance services unit.
In the other transaction, ORG has signed a letter of intent to sell its GPE-based ORG unit for MONEY in cash, shares and debt to ORG of GPE.
After that deal, ORG will own PERCENT of a new combined company, ORG, which will be the dominant player in NORP hazardous waste management.
The moves came DATE after GPE, GPE-based ORG completed the MONEY sale of its solid waste management business to ORG of GPE.
ORG's class B stock closed up C$MONEY ($MONEY) at a DATE high of C$MONEY ($MONEY) in heavy turnover of CARDINAL shares on ORG.
Laidlaw's class A stock rose C$MONEY ($MONEY) to a new high of C$MONEY ($MONEY).
""We've got a (share price) target level of MONEY ($MONEY) and C$MONEY ($MONEY) for DATE and it will probably go higher when the dust settles,"" said PERSON, an investment advisor with ORG.
ORG jumped $MONEY to close at $MONEY on ORG, while ORG rose MONEY to $MONEY, also on the ORG.
Analysts said the Rollins deal will further consolidate a fragmented industry and may improve prices for hazardous waste companies, which have been depressed in DATE.
The American Medical Response acquisition will also boost ORG's presence in the fast-growing health-care transportation area.
""Strategically, it is quite wise,"" Bunting ORG analyst PERSON said in a telephone interview.
""The highest growth potential is with their transportation companies. They are also able to partially spin off the hazardous waste operations and also allow that company to regain a profile by listing on ORG,"" PERSON said.
With combined DATE revenues of MONEY, the new ORG will hold a PERCENT share of the MONEY ambulance industry. It also gives ORG access to related medical transport services, a MONEY market.
Laidlaw CEO ORG said ORG will immediately boost ORG's earnings, but he declined to give a specific forecast.
Some analysts raised concerns that antitrust issues may hamper the ORG deal, but ORG said he did not foresee any problems with regulators.
The transaction with ORG will be neutral to ORG's earnings in the near term while operations are consolidated.
ORG said staff levels may be reduced by PERCENT PERCENT and CARDINAL facilities may be closed, leaving CARDINAL facilities in the merged firm. The transition is expected to result in more efficient operations and savings of MONEY DATE.",0
"A prominent exiled NORP human rights activist has said his contacts with detained dissident PERSON do not justify the capital charge against the former student leader, who is expected to go on trial soon.
PERSON, who now lives in GPE, has prepared written testimony rejecting charges that PERSON conspired with him to subvert the government, according to a U.S.-based human rights group.
""PERSON has already ... prepared testimonial materials and turned them over to PERSON relatives,"" said a statement from ORG in GPE received in GPE on DATE.
PERSON played a key role in pro-democracy demonstrations crushed by the army in DATE.
The charges against him included ""collaborating with PERSON and acting as director of ORG established by PERSON in GPE with the aim of subverting the NORP government"", the statement said.
Court officials have confirmed that PERSON, detained since DATE, has been charged with plotting to overthrow the government -- a crime that carries a maximum penalty of death and a minimum of DATE in prison.
PERSON, condemned by GPE as CARDINAL of the ""black hands"" behind the student-led movement, was freed from prison on medical parole in DATE and allowed to leave GPE for GPE.
He said his research centre was dedicated to studying the problems of GPE's modernisation drive and that PERSON had played but a nominal role in it.
""PERSON...acted as an honorary director and never published opinions in connection with the research centre's work and never participated in any of its activities,"" the statement quoted PERSON as saying.
Other evidence against PERSON included taking part in home studies offered by a GPE university and accepting donations and economic aid from overseas groups.
U.S.-based NORP democracy activist PERSON said a group she headed had assisted NORP student activists in enrolling in home study classes at foreign universities by helping them pay tuition and book fees but had no other dealings with them, the statement said.
""PERSON was helped in this way by them in selecting a correspondence course with the history department of ORG,"" it quoted PERSON as saying.
The statement quoted PERSON mother as saying her son's health had deteriorated while in confinement.
Family members could not be reached for comment.
PERSON trial was expected to be held behind closed doors soon, relatives said earlier, adding that the family had not yet been advised of a trial date.
PERSON had already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in the DATE demonstrations in GPE which were crushed by the army with heavy loss of life.
He had been active since his parole in DATE, defying police harassment to join in a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.","GPE babymilk powder, used by CARDINAL mothers in GPE and GPE, was withdrawn from NORP stores and clinics on DATE after a scare over ORG poisoning.
ORG, part of the NORP specialist food producer PERSON, said it was withdrawing its GPE milk powder because of an unconfirmed link with CARDINAL cases of a rare form of the ORG bug.
PERSON, managing director of ORG GPE, told reporters the company was also in talks with the NORP government, although no incidents had been reported there.
The company launched a damage limitation exercise after it was contacted by GPE's ORG on DATE TIME.
Government scientists had identified CARDINAL cases of ORG anatum infection, leading to gastro-enteritis, in children DATE which followed consumption of the NORP-made milk, sold as ""WORK_OF_ART.""
ORG said that CARDINAL of the children involved were admitted to hospital and all had since recovered. However it told parents and other carers to stop using the product immediately and ordered the withdrawal of all stocks.
""There is no direct, incontrovertible proof that (the cause) is GPE. It is a statistical association but we have to take every precaution,"" a company spokeswoman told ORG.
Shares in Nutricia were suspended for TIME in GPE after falling sharply. However they later recovered some of their losses, trading down MONEY at CARDINAL, above a low of MONEY.
ORG said it would hold a thorough investigation at the NORP plant where the milk was made, and added that production of the product had been suspended.
Sales of GPE milk powder total CARDINAL a year, and the product has a market share of PERCENT. Another ORG product, PERSON, is not affected.
NORP-based ORG, which also owns the Cow & ORG brand, is no stranger to controversy.
In DATE, it withdrew all of its powdered baby food products in GPE because of possible ORG contamination.
And MONEY were wiped off the value of the company in DATE after it recalled batches of its ORG baby food when excessive levels of disinfectant were found in some samples.",0
"GPE is poised to take a major step in reversing democratic reform in GPE by creating a new legislature to replace the territory's elected body when GPE resumes control of the NORP colony DATE.
The die will be cast on DATE when CARDINAL GPE people, carefully screened by GPE, meet over the border in the city of GPE to appoint CARDINAL legislators who will make GPE laws from DATE.
The ""provisional legislature"" will be installed after GPE disbands the elected ORG (Legco) in a move to roll back political reforms introduced by GPE's nemesis, departing colonial governor PERSON, since DATE.
The body that will choose the new parliamentarians is ORG, which also elected PERSON, a DATE shipping tycoon with strong pro-Beijing loyalties, to succeed PERSON as chief executive of the territory of CARDINAL people.
GPE resumes control of GPE at midnight on DATE, ending DATE of NORP rule.
The GPE public, who voted resoundingly for pro-democracy groups in GPE elections DATE, have had no vote in the CARDINAL selection processes organised by GPE and no say in the decision to remove the elected legislature.
The NORP quarrel over the provisional legislature set Tung and Patten on a collision course DATE.
""A quarter of those who are lining up for jobs in this institution were beaten in regular elections ... It will be a blot on DATE of NORP rule,"" PERSON told a newspaper. ""This echo chamber has no place in the political or administrative life of GPE ... We will have nothing to do with it any form.""
Tung responded in a speech to the business community by saying GPE must ""face the reality"" of the new legislature. He warned that if its legitimacy was challenged further he would get GPE's parliament to legislate on its legality.
GPE biggest pro-democracy group, ORG, is boycotting the selection process, which it brands as a plot to snuff out democracy and enact repressive laws.
""You won't find CARDINAL of them who can be called NORP by any stretch of the imagination,"" ORG leader PERSON told ORG, commenting on the candidates.
ORG has expelled a rebel member, PERSON, because he broke ranks to run for the new assembly.
The party is organising DATE of protests against the provisional legislature, and GPE has beefed up security on the border in case demonstrators try to cross into GPE, local media quoted NORP sources as saying.
ORG will choose the CARDINAL members of the provisional legislature from a list of CARDINAL candidates.
Pro-Beijing parties fielding candidates denied critics' allegations DATE that they had negotiated the result of the voting in advance in under-the-table horse-trading.
""There is definitely no carve-up of seats,"" said ORG leader PERSON.
Each ORG member will vote by endorsing CARDINAL CARDINAL names from among the candidates. The top CARDINAL candidates -- those listed the most times -- will be appointed to the provisional legislature.
Among the candidates are CARDINAL incumbent legislators, raising the prospect that ORG could be crippled well before NORP rule, because the CARDINAL legislatures' schedules could clash.
A poll by ORG indicated on DATE that CARDINAL of the public support the concept of the new legislature and DATE trust the NORP government.","MONEY in royalty payments to ORG from ORG will bolster ORG net income, and allow it to focus on more profitable lines of business.
But while the deal reassured some Wall Street analysts who were not already counting on the additional earnings from the settlement, others noted the terms appeared to be far less generous than one with ORG in DATE.
The stock, which gained CARDINAL to CARDINAL by TIME, was among the most actively traded stock on the ORG.  
Earlier, ORG said it expected ORG to pay it MONEY as part of a DATE technology cross-licensing pact. In exchange, each side agreed to drop pending patent infringement lawsuits against each other.
""Our assessment is that the agreement is at roughly PERCENT of the rate of the old agreement,"" ORG analyst PERSON said, referring to the royalty formula for ORG to pay ORG.
""ORG appears willing to take a lower number to get the suits dropped against them,"" PERSON said. The analyst maintained an attractive rating on the stock.",0
"NORP steelmaker, PERSON, on DATE raised the prospect of the world's steel giants forging alliances and together building huge steel mills in LOC to meet the region's increasing demand.
ORG, GPE's biggest producer of raw steel, said companies might be tempted to jointly build major, traditional steel mills in the rapidly growing region instead of going ahead as expected with a rash of smaller new-technology plants.  
""We may see some of the major steel players in the world seriously considering international alliances where they come together to build steel facilities in the developing economies of the world,"" ORG chief executive PERSON said.
Big traditional steel mills are in some ways better suited to LOC than the new-technology electric steel-making furnaces, which use large amounts of steel scrap as a feedstock, he told ORG in an interview.
""The realities are there is not enough scrap in LOC,"" McNeilly said. But big traditional steel plants required MONEY of investment, he added.  
""The funds required ... would just be too large for me to be willing to take that on independently or separately as a single project, totally exposed to all of the risks,"" he said.
""But as a project in company with other people, it's something that we most certainly would consider,"" he added.
McNeilly, who is overseeing MONEY of investment in new value-added steel production in LOC, also described plans by ORG's international rivals for major new steel capacity as ""talk"".  
NORP steel consumption is forecast by the steel industry to underpin strong world demand growth of PERCENT a year for the metal over DATE.
ORG's rivals in the NORP region have meanwhile announced plans for major new steel-making capacity, including plans by GPE ORG  for QUANTITY a year traditional steel mill.
""There's certainly a lot of talk ... but there is not a lot of evidence of that (major new capacity) happening,"" McNeilly said.  
But he predicted competition in world markets for steel products to remain intense as the north NORP steel-makers of GPE, GPE and GPE vied with NORP and GPE steel giants for the growth markets of LOC and LOC.
""The large successful players in the steel industry are looking for growth ...,"" McNeilly said.
""They're the people who are going to be looking for investment opportunities, for partners, for alliances with governments and for project opportunities in the region.
""And I think are also going to be looking more and more for other big players to be part of a project with them.""  
-- GPE newsroom CARDINAL-2 9373-1800","ORG ORG is benefitting from a sales recovery in LOC, as well as strong GPE expansion, and should post MONEY in sales in DATE, ORG chief executive PERSON said on DATE.
""There's no question that my goal for DATE is MONEY, to add a billion in sales,"" ORG told ORG.  
ORG worldwide sales through CARDINAL restaurants, including CARDINAL added during DATE, totalled MONEY in DATE, or PERCENT more than in DATE.
ORG also said in a brief DATE summary that its market share rose, touching PERCENT of all fast-food hamburger restaurant sales.  The company competes against sector-leading ORG and ORG  
Comparable store sales, meaning those restaurants open at lease DATE, rose PERCENT worldwide and PERCENT in GPE, ORG said.
ORG, the NORP branded-goods conglomerate, said DATE operating profits at ORG declined in DATE because of a NORP beef scare and a planned turndown in sales of restaurants to franchisees.
NORP sales DATE were hit by an outbreak of a disease attributed to contaminated NORP beef, especially hurting the company's hamburger outlets in GPE, GPE and GPE.  
ORG said ORG had responded by substituting for beef some chicken and other foods, including a vegetarian hamburger in GPE, to sustain sales in LOC.
""Our sales volumes are back where they were,"" ORG said, referring to existing stores.
The executive said new stores to be added, including CARDINAL to be built along NORP motorways in a deal with ORG, would lift sales.
ORG was also negotiating other deals in LOC similar to the one with GPE, ORG said.  He gave no details.
-- GPE newsroom, CARDINAL-305-374-5013",0
"ORG earnings for DATE blew past the published analysts' consensus estimate by a solid $MONEY a share, but fell shy of Wall Street expectations nonetheless.
Despite year-on-year DATE earnings growth of PERCENT, investors dumped the stock in after-hours trading on DATE TIME, sending the stock down CARDINAL to CARDINAL, traders said. ORG reported $MONEY versus $MONEY DATE.
Securities analysts said the disappointment lay in comparing ORG's sequential DATE earnings growth.
""The issue was that it was trading at CARDINAL times over the DATE earnings forecast,"" said ORG network equipment analyst PERSON, who holds a strong buy on the stock.
""They really needed $MONEY per share on the upside to maintain that price on the upside in my opinion,"" he said.
Investors were betting ORG could once again blow past analysts earnings estimates on the same scale it had done in DATE, the analyst said.
In DATE, ORG reported earnings that were PERCENT greater than seen in DATE.
""DATE had a big revenues spike and DATE was expected to be up on a similar basis sequentially,"" PERSON said.
By contrast, the most recent DATE showed sequential growth of PERCENT versus the strong DATE. ORG had reported above PERCENT sequential growth in DATE earnings for every period since DATE.
There was nothing in the report or the conference call that followed which suggested problems in the company's business fundamentals, several analysts stressed.
PERSON said he expected the sell-off to continue to play out on DATE TIME, but for bargain-hunters to then snatch up the stock, as it remains one of the strongest plays in its sector.
In a phone interview after a conference call with analysts, ORG chief executive PERSON said he could point to nothing in the company's DATE experience that would explain the sell-off in the company's stock.
To demonstrate it health, Smith pointed to how the company had derived between 10 and 15 percent of its overall revenues from PERSON (ORG) products, an entirely new line of business introduced DATE.
In addition, ORG said ORG's strategic alliance with ORG was performing according to plan.
""We are pleased with the progress we are making and our plans are on track with ORG,"" he said.
PERSON said the principal hazard for an investor in a telecommunmications equipment supplier like ORG was the lumpiness of earnings from DATE.
He noted that ORG's small number of telephone company customers thought in terms of DATE buying cycles, causing ORG shipment volumes to fluctuate DATE, and leaving it exposed if even CARDINAL customer delays a purchase.
In its earnings report, ORG said its revenues for DATE increased PERCENT to MONEY from MONEY recorded for the same period in DATE.
Net income for DATE increased to MONEY, or $MONEY per share, compared with net income of MONEY, or $MONEY per share, for the same period in DATE. Analysts had expected $MONEY per share in DATE.
-- GPE, CARDINAL-859-1736","After DATE of war-induced poverty, gum arabic is offering drought-stricken PERSON's rural poor a lifeline to the production plants of the world's food and beverage giants.
The name gum arabic may mean little to most people but the sticky acacia tree sap balls are a valued commodity in companies as diverse as ORG, drug manufacturer ORG and bubble gum factories around the globe.
For impoverished sub-Saharan states producing the bulk of world demand, gum arabic simply means export currency.
""GPE arabic is one of nature's best emulsifiers but the industry has suffered from low prices in DATE,"" a senior ORG (ORG) official said.
""But with synthetic food-substitutes losing favour prices could move up again as quality is improved,"" ORG's programme director PERSON told ORG in the capital ORG.
Soft drinks makers now consume PERCENT of world output but it is also used in sweets such as pastilles and chewing gum. The food industry uses it as a stabiliser and a preservative.
Chad, neighbour of the world's largest gum arabic producer, GPE, is planning a quality blitz to win markets after DATE of falling yields and bloody turf disputes between foraging nomads and commercial farmers.
""CARDINAL of world output (QUANTITY) is NORP with GPE producing QUANTITY,"" said ORG director PERSON. ""But PERSON has the potential to match GPE's output.""
The ORG and the NORP aid agency ORG (ORG) are both working on projects to propel PERSON's output to QUANTITY from QUANTITY DATE.
Some experts say PERSON has the capacity to produce QUANTITY a year but that world demand would have to increase dramatically to accomodate that.
GPE arabic has a history dating back to ancient times. NORP traders brought it north from LOC in caravans to LOC and LOC along with gold, ivory and slaves.
It is also highly prized as a soluble food fibre because, unlike other strong vegetable emulsifiers with thickening and gelling qualities, it can be used in foods and beverages without altering texture.
It is used in everything from indelible ink for PERSON's NORP schools to textile dyes, glues, pastilles, perfumes and pharmaceutical products.
Despite traces of arsenic it is also nutritious, with PERCENT sugar and PERCENT each of fat and protein in addition to copper, calcium, sodium and magnesium.
Hungry nomads pluck gum arabic as they pass with grazing goats and cattle.
But state land rights for PERSON's CARDINAL producers are poorly defined. ""People get killed over this,"" said CARDINAL NORP worker.
""Our studies aim to entirely review and reform the whole sector so everyone's interests are respected and output can grow,"" said a spokesman for the NORP ORG development agency.
Trees take DATE to mature yielding QUANTITY grams in each of CARDINAL main harvests DATE.
""Some super-trees yield QUANTITY per harvest so we are trying to find out their genetic code and plant more,"" said the ORG's PERSON.
GPE arabic is dried from squash-ball sized yellow blobs of sap into quartz-like chunks and split into top grade NORP followed by ORG grades before it enters a highly secretive marketing chain in QUANTITY Corlo lots.
Marketing data is kept secret.
Commercial planting has not got underway but existing trees have suffered from DATE of drought. Rains of PERCENT are needed whereas some areas are only forecast to get little over 100 mm in DATE. PERSON has already appealed for food aid.
PERSON's DATE ""Gum Arabic Project"" to DATE seeks to improve knowledge of the sector and its practices -- from commercial tree bleeding, tooling, drying, sorting, stocking, transporting to dealing along the murky marketing chain.
The ORG's DATE $MONEY project up to DATE on inventory assessment, mapping, training and standards completes the picture of sectoral reform.
Neighbouring countries are also planning more output, from GPE, Burkina Faso, and across the arid Sahel desert fringe to strife-torn LOC.
GPE is already ORDINAL only to GPE in terms of production. GPE is the main producer outside LOC.",0
"GPE must make real changes to its economy if it wants to join ORG and should replace PERSON rhetoric with international cooperation, a leading GPE businessman said on DATE.
GPE should take growing dissatisfaction among foreign investors seriously, said PERSON, chairman of ORG in GPE. A recent crackdown on dissidents could only harm vital ties with GPE, he said.
""GPE is always telling foreign investors that we must show sincerity in our business dealings in GPE,"" PERSON told a meeting of ORG.
""Perhaps the time has come for GPE to show some sincerity in getting into ORG (ORG),"" he said.
NORP officials have blamed GPE for blocking their accession to the global trade group, but no other country wanted to ease entry requirements to a point at which they were not commercially viable, he said.
""There is room for compromise on GPE's ORG entry, but GPE should be sincerely interested in joining,"" he said.
The terms of GPE's entry would affect other applicants to the ORG, PERSON said, adding that the group could not lower its standards for GPE.
Business investors from GPE, already upset by changes in taxes and rules, should pay note to GPE tirades in GPE's official press and the hostile stance of a popular book on NORP relations called ""WORK_OF_ART, he said.
""I think that NORP business people in GPE really should pay attention to these stirrings of NORP NORP nationalism that we're seeing in this book and in the newspapers every day,"" he said.
The solid accomplishments achieved by the GPE leadership over DATE of economic reform could inspire positive nationalism without need to resort to anti-foreign rhetoric, he said.
While some GPE officials appeared to want foreigners to play a minimal role, what GPE really needed was more opening to the outside and a bold continuation of economic reforms launched by paramount leader PERSON, he said.
""And GPE should say yes to a more stable and friendlier relationship with GPE,"" he said.
NORP-U.S. ties have been rocked in DATE by disputes over GPE, human rights and copyright piracy, as well as annual battles over the conditions attached by GPE to GPE's Most Favoured Nation trade status (ORG).
While ORG had worked hard to boost relations and assure GPE's ORG status, GPE's clampdown on its tiny band of pro-democracy dissidents could only harm ties, PERSON said.
""Our plan for DATE is to try to get permanent PRODUCT so we won't have this battle DATE, but if GPE is rounding up dissidents and throwing them in jail...It's disappointing because it's not going to help GPE relations,"" he said.
GPE should also take account of dissatisfaction among foreign businessmen and investors and take into account their need to make profits, he said.
""GPE is not at the peak of its goodwill with foreign investors right now... PERSON matters,"" he said.","Authorities in central GPE's GPE province have ordered CARDINAL pro-democracy activists to stand trial on charges of counter-revolutionary propaganda and incitement, a human rights group said on DATE.
The Hefei Intermediate People's Court in the GPE capital was scheduled to try dissidents PERSON, PERSON and PERSON on DATE, GPE-based watchdog Human Rights in GPE said in a statement.
A court official in GPE contacted by telephone declined to comment on the case, saying questions related to it touched on matters that had ""not been made public"".
The group said the trial would be the latest step in a state crackdown on dissent that has seen many of the main figures in GPE's struggling pro-democracy movement disappear into prison or administrative detention.
There was little doubt about the likely result of the trial of Shen, Ma and PERSON, all of whom had been detained at least once since they took part in an ill-fated campaign for more democracy in DATE, the GPE group said.
""Although they must go for trial on (DATE) 26th, it has already been decided that they are guilty and must be punished,"" it said.
All were unemployed, though Shen had been a government official and PERSON a manager at a company. Ma had been a student.
The evidence against the CARDINAL stemmed from articles written and distributed in DATE, and for which all had already been detained for DATE, the human rights group said.
""To suddenly try them again now is a typical case in the NORP government's strict nationwide suppression of dissidents,"" it said.
DATE, a GPE court took TIME to reject the appeal of leading dissident PERSON and uphold his DATE prison sentence for subversion.
The trial and failed appeal of the former student leader were part of a series of crushing blows delivered by authorities to GPE's tiny band of political dissenters.
Visiting GPE and NORP officials and politicians have raised the case of jailed dissidents in talks with NORP leaders, but have said individual human rights cases should not be allowed to disrupt overall ties.
GPE dismisses criticism of its human rights record as interference in its internal affairs.
Human Rights in LOC said observers were being denied access to the trial of the CARDINAL GPE dissidents, although the proceedings were officially open.
""It is believed this is another trial in which society and the free media are not permitted to understand the real situation,"" the group said.
The intermediate court official said he could not confirm any details of the case.
""We cannot answer over the phone, because this concerns a matter that has not been made public,"" the official said.",1
"GPE's biggest life insurer, ORG, plans to set up a joint venture in the GPE, becoming the ORDINAL NORP company to sell life insurance policies abroad.
A spokesman for ORG said on DATE that it and the GPE group of the GPE' would sign a contract by the DATE to establish a joint venture by DATE.
""NORP insurers have not gone abroad to sell life insurance policies. We plan to sell policies in the GPE to people in the medium to high income bracket, and also target NORP firms that have already entered the country,"" he said.
ORG will own PERCENT of the joint venture, which will be based in GPE. The rest will be owned by CARDINAL GPE group firms -- PERCENT by ORG and PERCENT by ORG
The size of the capitalisation and the number of staff at the new company have not yet been decided, but ORG is expected to send several executives to the venture, he said.
ORG is also looking to tap lucrative markets elsewhere in LOC as the domestic insurance business approaches saturation point, the spokesman said.
The president of ORG, PERSON, said DATE that it wants to help build up the life insurance market in the rest of LOC in collaboration with local firms.
CARDINAL of people in LOC have life insurance policies, Itoh said, adding that GPE's biggest insurer, ORG (PICC), could be a candidate for a joint venture.
ORG is a giant in the NORP insurance business and CARDINAL of the world's top providers of life cover, with assets of MONEY (MONEY), CARDINAL of the value of assets held by GPE's CARDINAL life insurers.
Analysts say the insurance business in emerging NORP countries will grow rapidly in DATE. Purchase of life insurance policies is closely tied to an individual's affluence and disposable income, they say.
""While GPE's insurance market is reaching maturity, the prospects for growth are enormous in the rest of LOC as countries there have just begun to build up a pool of their own capital,"" said ORG analyst PERSON.
""NORP banks and other financial institutions are already targeting NORP markets for future opportunities. ORG took action in the region as the ORDINAL NORP life insurer to do so, indicating other big life insurance firms will follow,"" he said. (MONEY)","ORG said it plans to close its merger with ORG on DATE and announce a new organizational structure shortly thereafter.
In a meeting with security analysts, chief executive officer PERSON said PERSON is close to the sale of its telecommunications business and its natural gas exploration and production operations in GPE.
Hemminghaus also said that the new ORG Diamond ORG will eagerly scour the industry for refining and marketing acquisitions and joint ventures.  
""There are bound to be some opportunities that are out there for us,"" Hemminghaus said.
PERSON and ORG announced in DATE a merger that will create a new company with a combined equity value of MONEY.  Hemminghaus, who will become chairman and chief executive of the new company, noted that opportunities will come from consolidation occuring elsewhere in the energy industry.  He noted a combination being discussed by ORG and ORG ORG ""means there are going to be some quality assets that become available in certain markets.""
Asked whether his new company would be interested in a joint venture similar to others taking place in the industry, Hemminghaus said ""You bet we would"".
He flatly dismissed speculation that FAC entered the pact with Ultramar because it was being targeted as an acquisition candidate.
""This was in no way a defensive move on our part,"" he said, adding ORG was not approached by another firm.  He also said PERSON had considered a transaction with ORG, which on DATE announced the sale of downstream assets to ORG
""Had this deal (Ultramar) not gone through, we would have been looking very seriously at this (ORG) opportunity.  If the timing had been a little bit different, we would have been out there looking at it,"" he said.
PERSON anticipates the union with ORG will result in cost savings and synergies that will add $MONEY per share to earnings in DATE and $MONEY per share in DATE.
The merger with GPE marks the ORDINAL major transaction for ORG since DATE, when it bought ORG
Hemminghaus said cost savings of that transaction have exceeded preliminary estimates.  Savings DATE are expected to be MONEY compared with earlier estimates of MONEY and estimated savings for DATE are now set at MONEY, he said.",0
"GPE rejected a NORP challenge to take it to ORG and staged a vote on DATE to set up a GPE parliament that will oust elected lawmakers when GPE recovers the territory DATE.
Under heavy security and in a hall decked with red curtains and the NORP communist red crest with CARDINAL stars, an elite of CARDINAL carefully chosen GPE electors met in the NORP city of GPE to pick new legislators for the territory.
The members of the GPE-controlled ORG cast ballots for the CARDINAL-seat legislature in big red envelopes.
They were choosing from CARDINAL pro-Beijing candidates who had been screened by GPE's representatives in GPE before the selection ballot.
Each elector could list up to CARDINAL names from among the CARDINAL hopefuls, who include CARDINAL incumbent lawmakers.
The result, to be announced later on DATE, is likely to be denounced by GPE and some of its allies as a travesty of democracy and a breach of handover agreements.
GPE is handing GPE back to GPE at DATE under a treaty that promises the territory of CARDINAL people can keep for DATE its capitalist system.
Presiding over the gathering in GPE, NORP Foreign Minister PERSON attempted to shoot down GPE's ORG threat and said GPE should wake up to reality.
""What is regrettable is that GPE has lacked the courage to face reality,"" PERSON said in a speech before the voting.
""This election should have been held in GPE, but because of GPE's refusal to cooperate we had no choice but to hold it here in GPE.""
On DATE, NORP Foreign Secretary PERSON challenged GPE to go to ORG in GPE to prove the legality of its so-called provisional legislature.
GPE colonial Governor PERSON also attacked the proposed legislature, calling it a ""rubber stamp"" and an ""echo chamber"".
GPE is creating the body in retaliation for democratic reforms introduced by PERSON. The reforms enlarged the mass franchise when the present ORG (Legco) was elected DATE with a landslide for pro-democracy forces.
DATE's vote was a turning point in GPE future and moved PERSON a step closer to oblivion.
Events are moving apace, with DATE to go before the change of flag. DATE the ORG chose PERSON, a DATE shipping magnate with strong pro-Beijing loyalties, to succeed Patten DATE.
The GPE public has had no say in who should be their ORDINAL NORP leader and lawmakers after the NORP withdrawal. Nor have they had a say in the removal of their elected legislators.
A survey DATE showed CARDINAL of GPE people backed the provisional legislature and only a quarter trusted GPE.
The creation of the interim lawmaking body in GPE was conducted amid tight security.
Trucks towed away suspicious cars TIME before the meeting began and guards with binoculars were posted atop the building across the street from the voting hall.
Some of CARDINAL journalists, many of whom arrived on DATE, were detained for TIME while their travel documents were verified by NORP border guards.","Newspapers in GPE were dominated on DATE by reaction to the death of PERSON, with many eulogising his reformist policies that made GPE, GPE future sovereign, rich and strong.
""Nobody in the course of DATE raised the material standards of living of more people than PERSON,"" the widely-circulated LOC said.
""That, in itself, would ensure PERSON his place among the leading figures of DATE,"" it said in its editorial.
Little effort was spared as newspapers splashed full-colour photographs of mourners in GPE and GPE's southern border city of GPE in GPE.
While some papers noted PERSON's role behind the military crackdown against DATE FAC democracy protests, the issue was not emphasised.
The military suppression had outraged GPE at the time and shook confidence in the territory, which reverts to NORP sovereignty at DATE.
""He deserves to be treated as one of GPE's greatest leaders,"" ORG said in a front-page editorial.
PERSON, who died late on DATE at DATE of complications from Parkinson's disease and a lung infection, was widely credited with transforming GPE from an improverished NORP state into an emerging economic powerhouse.
GPE's economic flowering helped drive GPE, as factories owned by the territory's businessmen mushroomed in neighbouring GPE and NORP products poured through GPE port.
PERSON also engineered the ""CARDINAL country, CARDINAL systems"" formula paving the way for the return of the NORP colony to GPE.
""ORG from ORG's merits, actualise the CARDINAL country, CARDINAL systems,"" the independent LANGUAGE-language Ming Pao said. ""This is the best way to fulfil his dream...to ensure his vision lasts DATE.""
Some papers ran polls, awarding high marks for PERSON's achievements. A Ming Pao survey of over CARDINAL respondents found PERSON scoring CARDINAL out of CARDINAL for his achievements, while PERCENT thought his death would not affect GPE.
ORG said a poll of CARDINAL people it conducted showed PERCENT were confident that the CARDINAL-country, CARDINAL-systems formula would be implemented.
Normally trim GPE-backed newspapers PERSON and Ta Kung Pao boasted separate takeouts filled with condolence advertisements from companies and individuals.
Perhaps the only discordant note in GPE eloquent song of praise was an off-colour quarter-page photograph on the front page of the LANGUAGE-language ORG, which it claimed to be PERSON's last picture taken while alive in hospital in DATE.
Photographed secretly through a crack in the door, it showed a wan PERSON, with eyes red-rimmed and puffy, staring blankly into space.",1
"NORP dairy and distribution company ORG posted better than expected profits at DATE stage on DATE and said it was seeking to expand its presence as a distributor in mainland LOC.
""We have now refocused the group into food and distribution. And a lot of NORP customers of ours are looking for us to come to them with some NORP capability, so CARDINAL area we are looking at is distribution,"" chairman PERSON said.
Pretax profits in DATE were up PERCENT at MONEY (MONEY), better than stockmarket forecasts of CARDINAL to CARDINAL. The company held cash of CARDINAL at DATE, giving it ample resources for acquisitions.
The company raised its interim dividend by PERCENT to MONEY. Unigate shares were up MONEY at GPE by late in the session.
PERSON told a news conference: ""We tend to see the duck being thickest in LOC and that is where we are shooting at the moment.""
Chief executive PERSON said in an interview that GPE had CARDINAL to spend on acquisitions. ""If our interest cover went down below CARDINAL times then you would have to question our cautiousness,"" he said.
He ruled out a special dividend, saying that growth by acquisition represented better value to shareholders.
""We are prepared to expand beyond areas in which we operate, into another food area, but if we did it would have to be a large and meaningful acquisition,"" said PERSON.
Unigate's NORP foods division reported profits up CARDINAL at CARDINAL in DATE, with fresh foods increasing profits from CARDINAL to 26.5 million pounds.
This increase was helped by the QUANTITY acquisition of ORG's NORP margarines and spreads business in DATE.
PERSON, the bacon and pork processing business, has also benefited from recent acquisitions.
In DATE, a total of CARDINAL was spent on acquisitions, including CARDINAL on the Hargrave pork products business to further strengthen ORG. CARDINAL was spect buying ORG's ORG and PERSON brands to add to St Ivel's existing brands -- Gold and Utterly Butterly.
""I don't believe we can be accused of unwise investments over DATE,"" PERSON said.
Unigate's dairy business reported profits down QUANTITY at CARDINAL due to lower prices for butter and milk powders, which GPE estimated cost it CARDINAL in the period. But from DATE, ORG said it has seen a small reduction in raw milk prices.
GPE, ORG's distribution business reported profits up CARDINAL at CARDINAL.
In DATE, ORG completed its exit from the GPE restaurant business with the sale of ORG and ORG for CARDINAL, enabling the company to focus purely on developing its core NORP food and distribution business.
The group sold its GPE restaurant chain ORG for MONEY in DATE and its minority stake in NORP food company Nutricia for CARDINAL in DATE. Cash at the bank and in hand amounted to CARDINAL at DATE stage. ($MONEY Pound)","ORG, the aggressive GPE company run by businessman PERSON, on DATE defended its plans to buy security firm ORG after a GPE newspaper reported that the transaction would be called off.
""The deal has not been killed. It is still moving forward,"" spokesman PERSON said.
Huizenga, founder of ORG, owns the GPE Marlins baseball, PERSON football and NORP hockey professional sports teams. Republic has CARDINAL major areas of business: electronic security, solid waste and used cars.
Originally valued at MONEY when the stock transaction was announced in DATE, the deal has lost PERCENT of its value due to a steep decline in GPE's share price. At the time the deal was ORDINAL announced, ORG shares were trading at MONEY.
Citing unnamed industry sources, ORG reported that ORG was expected to call off the deal because of the drop in value.
Shares of Republic closed up MONEY at $MONEY on Nasdaq after trading MONEY as takeover traders rushed to cover short positions. ORG stock traded on ORG closed up MONEY at $MONEY.
GPE, GPE-based ORG declined to comment on the report, but Wall Street analysts said both companies were dismissing the article.
""What ORG has told me is that nothing has changed,"" said PERSON of ORGamp; Co., referring to the report that the deal was dead.
Some Wall Street traders have speculated that ORG may be forced to sweeten the terms of the deal to make up for the lost value in its stock price.
Republic's ORG declined to discuss details of the deal's value.
The transaction also has been clouded by concerns that ORG, which owns PERCENT of ORG, may oppose the acquisition. Western has said it was not consulted about the merger, but has not yet determined if it will seek to block the deal.
The ORG acquisition represents a huge step for Republic, which has acquired CARDINAL security companies since it entered DATE.",0
"CARDINAL NORP, thought to be members of a GPE leftist guerrilla group, were arrested in the northwest of the country early on DATE as they tried to smuggle a kidnap victim out of the country, police said.
They were seized at ORG international airport, near GPE, at TIME local time (CARDINAL ORG) as they tried to bundle a ORDINAL NORP, PERSON, the wife of a former ORG director snatched on DATE, on to a charter plane.
A list of CARDINAL international guerrilla organisations together with a number of false passports were found in the bags of the CARDINAL detainees -- a DATE man and a DATE woman -- police said.
""I would dare to say that these (NORP) citizens we captured are the international finance heads and advisers of ORG (ELN),"" Gen. PERSON, head of the anti-kidnap police in nortwest GPE, told reporters.
The ORG is GPE's ORDINAL largest rebel group. It is notorious for its attacks on oil infrastructure and on multi- national companies and their employees.
Gen. PERSON said the CARDINAL NORP in initial questioning claimed they were carrying out an international peace mission and merely mediating the release of PERSON, seized from her home in ORG, Antioquia, along with her DATE son and chauffeur. Both her son and the chauffeur were released TIME after being snatched.
Salgado gave no details of the other guerrilla groups named in the documents seized from the couple and was unable to say if either had been linked to the NORP urban guerrilla groups of DATE.
ORG in GPE declined to comment on the arrests. ORG found on the man's forged ID papers were PERSON, of GPE, and PERSON. The woman's papers gave her name as PERSON and Isabel Seidel.
The man is also believed to have played a prominent role in the kidnap of a NORP, NORP and NORP engineer in GPE province DATE, Gov. PERSON said. The release of the CARDINAL in return for an undisclosed ransom, paid without the knowledge of the NORP authorities, led to an angry exchange between ORG and the NORP and NORP embassies.
In comments to reporters on DATE, ORG said he had spoken to PERSON after her release and that she had confirmed she had been held by the ORG and complained of pyschological torture.
GPE is the kidnap capital of the world with CARDINAL person abducted every TIME, according to security experts. CARDINAL the kidnaps are attributed to the country's rebel armies.","Rescuers struggled on DATE to recover scores of bodies from the wreckage of a bus that plunged down a deep ravine in LOC.
ORG officials said CARDINAL people -- all members of a single extended family -- died in the crash and CARDINAL passengers survived, including a DATE baby.
The bus ran off the road and plunged into a QUANTITY (QUANTITY) chasm in a remote area of GPE on DATE TIME.
CARDINAL volunteers took part in the rescue, which was made difficult by the extreme mountain conditions and hampered by thick fog and intermittent rain.
Rescuers were taking TIME to recover each body and ORG spokesman PERSON said it could take DATE to pull all the victims out of the ravine.
""The conditions are very dangerous and rescue work had to be suspended TIME and could only begin again at ORDINAL light,"" PERSON told ORG in a phone interview from GPE, on GPE's southern border with GPE.
""Rescue workers are having to abseil or scramble down into the ravine with the aid of ropes. The situation is just atrocious. It's taking us TIME to bring each body out,"" he added.
The accident occurred near the town of PERSON as the bus travelled from GPE, the country's ORDINAL-largest city, to ORG, a small port on LOC.
ORG said CARDINAL of the survivors, PERSON, DATE, told him the vehicle swerved off the road when the driver, who died in the crash, tried to avoid rocks that had fallen on the highway.
Arboleda, her uncle PERSON, DATE, and DATE PERSON were flung out of the bus as it rolled into the chasm. She suffered a broken arm and a cracked rib, and her uncle was only slightly scratched, ORG said. The baby has a cracked skull and is undergoing a series of emergency operations, ORG said.
Relatives and neighbours of the dead mourned the victims in their home city of GPE.
""This a tragedy. All these people were part of the same family,"" neighbour PERSON told the ORG TV news programme. All the dead worked in a small, family-run shoe factory, according to ORG.
The fatal bus crash is the ORDINAL in DATE in GPE. CARDINAL people died and CARDINAL others were injured when a local bus flipped over and dropped into a ravine on DATE. The latest accident is CARDINAL of the worst in recent memory.",1
"The fate of CARDINAL of the world's most glittering gold finds landed back in the hands of the NORP government on DATE after CARDINAL NORP mining concerns said they finally agreed on a plan of joint development.
NORP gold giant ORG and ORG ended DATE of speculation on whether they could work together when they submitted a proposal to develop the huge Busang deposit, which contains at least 57 million ounces of gold.
""We've made a submission...which says we can work together if the government can satisfy requests by both parties on a couple of items,"" PERSON chief executive officer PERSON said in a phone interview from GPE.
""Within the document, there were certain concerns that we've asked the government to give us guidance on,"" said PERSON. ""They are concerns from both parties.""
He would not say what the concerns were, but he said price was not an issue.
The NORP government told the CARDINAL companies in DATE to form a joint venture, with ORG gaining PERCENT and ORG keeping PERCENT. The CARDINAL companies were also asked to give the government a PERCENT cut.
The joint submission ""is in accord with the government parameters,"" said ORG spokesman PERSON. Neither company would say what the terms or structure of the proposed deal were or whether ORG shareholders would have a chance to vote on it.
They said a government response was expected in due course.
The government has twice extended a deadline for the CARDINAL companies, with the latest extension being DATE.
""This to me looks like they're doing what (NORP president) PERSON asked,"" said gold analyst PERSON with PERSON in GPE.
""There wasn't much else ORG could have done at this point.""
The government's statements have angered PERSON shareholders and hurt the company's once high-flying stock on NORP stock exchanges.
CARDINAL group of shareholders has hired high profile GPE lawyers to make sure shareholders get a fair deal.
""Talk of lawsuits is premature. We've got to see an offer ORDINAL,"" said PERSON, a retired lawyer who lives near GPE and is spearheading the initiative. ""We'll see what they have on the table, judge it and react appropriately.""
Until DATE, ORG had been optimistic that the NORP government would endorse an open bidding process for Busang. Mining giants ORG, ORG and ORG have expressed interest.
But the statements from ORG and ORG on DATE suggested there was little hope of an auction process, analysts said.
""We still remain hopeful,"" ORG spokesman PERSON said. ""It's not over till it's over.""
Investors appeared to be dumping ORG shares on DATE and picking up ORG shares to participate in GPE, analysts said.
PERSON stock was up C$MONEY to C$MONEY while ORG fell MONEY by TIME trading on ORG.","Production at the huge nickel deposit at GPE's FAC remote GPE is still DATE away, but already it risks falling behind schedule because of environmental concerns and pressure from aboriginal groups.
PERSON, the GPE-based nickel giant that won control over the spectacular nickel, copper and cobalt property after a bidding war DATE, planned to start open pit production by DATE and full-scale underground mining by DATE.",1
"NORP paper concern ORG a.s. on DATE said its DATE net profit fell as a shutdown of its main paper mill, coupled with a downturn in the paper cycle bit into its bottom line.
Sepap said its DATE net profit, calculated according to international accounting standards, fell to CARDINAL crowns from CARDINAL over DATE, while revenues slumped to MONEY crowns from MONEY.
The firm said results from DATE only had stabilised after a ORDINAL CARDINAL industry downtrend, though ""the planned annual shutdown of the GPE mill lowered earnings by virtue of the expected higher maintenance costs associated with the stoppage"".
""Overall, Sepap DATE ernings are expected to rise and show a slight improvement over DATE levels,"" a company statement said.
The GPE mill, which accounts for CARDINAL of the group's revenues and profits, saw its pre-tax profits plummet to CARDINAL crowns.
Comparative figures were not immediately available, but the mill's DATE gross profit was CARDINAL crowns.
""The market place is sending mixed signals for DATE. Anticipated price increases have not taken hold at the anticipated levels in all of the pulp and paper grades,"" the statement said.
It added that the group's ORDINAL biggest subsidiary, newsprint maker ROTO, ""continued to produce good results in a market that is weakening"".
ROTO showed a DATE pre-tax profit of CARDINAL crowns on sales of CARDINAL crowns.
DATE, ORG was the center of a heated battle for control between GPE-based investor PERSON and NORP forestry concern NORP.
PERSON, who controls PERCENT of Sepap through his Daventree Ltd investment company, won the battle, but later accepted ORG's role as a strategic partner in the paper industry. The NORP firm holds a PERCENT stake in ORG.
-- Prague PRODUCT, CARDINAL-2-2423-0003","GPE's PERSON ended rising NORP star PERSON bid for his ORDINAL ORG victory on DATE, while NORP PERSON halted compatriot PERSON quest for his ORDINAL final appearance in DATE.
PERSON CARDINAL-4 6-3 in the semifinals of the $MONEY NORP Indoor Open and PERSON followed with a hard-fought CARDINAL-6 6-3 7-5 victory against his ORG team mate.
ORDINAL seed PERSON, who had not lost a set DATE, looked shaky on his groundstrokes early, but stayed in contention with his strong serve, firing CARDINAL of his CARDINAL aces in the ORDINAL set.
But in the ORDINAL game of the match, PERSON's serve failed him, his double fault giving the NORP triple break point.
PERSON, who has now reached CARDINAL semifinals but never gone further, fought back with a service winner and then an ace, but as he has done DATE, PERSON blasted a brilliant return to take the point and set.
The NORP number CARDINAL recovered to gain CARDINAL break points of his own in the ORDINAL game, but failed to come up big when he needed to.
Prinosil, who was born near here in GPE before emigrating to GPE, then took control.
PERSON said: ""I didn't serve well at the right times. I felt confident coming into the match, (but) I just didn't really make anything happen DATE. It was just a case of not really having DATE at the office.
""I'm disappointed to have lost because I thought it was a good opportunity to make my ORDINAL final. Bar this match, I've played very well DATE and am confident going into GPE and GPE.""
Prinosil said: ""I served very strongly DATE and just tried to play within myself, not get too excited and lose my concentration. No matter what happens DATE, this tournament has been a great success for me.""
Damm also looked on the bright side, viewing his appearance in the final last Sunday in EVENT and this DATE's march to the semifinals as CARDINAL of the best weeks of tennis he has ever played.
Victimns on the way have included world number CARDINAL PERSON and ex-Wimbledon champion PERSON.
For PERSON the win came as a relief following claims in the local media that he could no longer hold his nerve in big matches.
The former world number CARDINAL has suffered several injuries in DATE, dropping to ORDINAL in the rankings.
""I felt a lot of pressure at the beginning of the match and I've never seen ORG play that well, but I think I also showed that I am still capable of playing tennis at the highest level,"" said PERSON, who won his ORDINAL tournament in DATE at the GPE Open DATE.",1
"Raising the stakes in the escalating battle for ORG, ORG on DATE sweetened its hostile bid for the railroad to MONEY in cash.
ORG original offer of MONEY was already higher than a proposed MONEY transaction planned between ORG and ORG, but the new bid of $MONEY per share further widened the gap.
""Our increased offer demonstrates our total commitment to this combination,"" ORG Southern Chairman PERSON said in a statement.
GPE-based ORG said it would review the new offer, but noted that it previously had determined the union with ORG was a better fit.
On DATE, GPE, Va.-based ORG and ORG revised the terms of their planned cash and stock transaction to give shareholders more cash. The ORG union values ORG shares at MONEY.
Shares of ORG jumped $MONEY to $MONEY on ORG.
Wall Street DATE had speculated that ORG would raise its bid to MONEY per share in the hope of igniting unrest with ORG shareholders, some of whom already have expressed dissatisfaction with the ORG deal.
Industry sources also said ORG was unlikely to be swayed from its planned merger with ORG.
Instead, they said the outcome of the bidding war was increasingly likely to be decided by ORG's shareholders, who will ultimately determine if the railroad should strike the MONEY deal with ORG when there is a MONEY offer on the table.
""Nothing has changed. I think a lot will depend on what happens with the shareholder vote,"" said PERSON of PERSONamp; Co.
Shareholders are considered key to the ORG transaction because GPE corporate law prohibits ORG from buying PERCENT of ORG shares in a tender offer without their approval. ORG is seeking to acquire PERCENT of ORG shares in a cash tender offer, with PERCENT to be exchanged for stock.
A shareholder meeting is scheduled for DATE.
Takeover experts, who have been among the most vocal opponents of the ORG deal, said that ORG would further strengthen its position by aggressively urging ORG shareholders to defeat the ORG transaction.
""It's got to be like PERSON's marathon, but with a more successful conclusion,"" said CARDINAL, referring to the TIME campaign blitz launched by the losing GPE presidential candidate in DATE election.
PERSON declined to be specific about ORG plans to woo ORG shareholders.
""The numbers in our bid speak for themselves. It should be readily apparent that it's a superior offer. We're willing to talk to all of the constituencies involved, including shareholders and others who are interested in this and we are doing that,"" he said in a telephone interview.
ORG said its latest offer of $MONEY a share was superior to ORG's bid because it was not contingent on regulatory approval and would provide immediate cash payment to ORG shareholders.
Wall Street experts said ORG and ORG, which already revised the terms of their transaction once, may feel pressured to again increase the portion of cash in their deal. However, most industry experts do not expect a revised bid to top the offer made by ORG.","Forget about the pink ORG. PERSON soon may have a whole fleet of cars at her disposal.
Seeking to expand in the market for boys toys, ORG said DATE it will buy ORDINAL-ranked ORG in a MONEY union that will wed the makers of PERSON dolls and PRODUCT cars.
The move is considered hugely significant for top toymaker ORG, which DATE pursued ORG for similar reasons. ORG was forced to drop its unsolicited ORG offer due to concerns about antitrust implications associated with joining the nation's top CARDINAL toymakers.
Industry experts said the proposed acquisition will accomplish many of the same goals as the failed ORG transaction.
""Its been something they have been trying to do for DATE and years,"" said ORG analyst PERSON of ORG's desire to boost its presence in boys' markets.
The proposed union will combine ORG's highly successful product line, which includes PERSON, Hot Wheels and ORG, with ORG's Matchbox, Sesame Street toys and radio control vehicles.
Shares of ORG jumped CARDINAL to CARDINAL in TIME trading. The stock transaction values shares of ORG at MONEY each.
For money-losing ORG, the acquisition will represent the culmination of its turnaround efforts. The toymaker DATE cut PERCENT of its work force as part of a restructuring aimed at returning to profitability.
With its deep pockets, leading market presence and long global reach, ORG is likely to easily capitalize on ORG's products, analysts said.
""ORG clearly has ways to enhance the revenue growth of ORG and expand it internationally. ORG is getting into a fairly cleaned-up situation,"" PERSON said.
But some analysts cited concern about potential antitrust implications, even though ORG holds a far smaller market presence than ORG. They specifically cited potential market overlap of ORG's ORG and ORG's Matchbox units.
""I think it's going to be a long process in getting the OK of regulators. After the ORG debacle, anything ORG does at this point will be looked at by the regulators,"" said CARDINAL analyst who did not want to be identified.
In a telephone interview with ORG, ORG president PERSON said antitrust concerns are not expected to be an overwhelming issue in the transaction. She noted that the combined companies will still hold PERCENT market share in the highly-fragmented industry.
The proposed combination will also strengthen ORG's position in plush toys, where ORG is a market leader.",1
"While ORG struggles to overcome labor costs of $MONEY an hour at its parts plants, the head of CARDINAL global auto supplier is painting a NORP view of the future, in which an increasing number of workers earn MONEY an hour.
CARDINAL of ORG workers around the world will be paid a combined TIME wage and benefit rate of MONEY by 2000, the company's top executive said DATE at a conference of suppliers.
That sobering forecast spotlights a long-term problem for ORG, which is now in the throes of negotiating a new DATE labor contract with ORG union.
""They can't make a buck stamping out taillights and paying people $TIME,"" said PERSON, an analyst at ORG
Adds ORG analyst PERSON: ""Their CARDINAL other competitors aren't going to say 'We'll spot you DATE.'""
PERSON, president and chief executive officer of ORG, said the company paid PERCENT of its CARDINAL workers around the world MONEY an hour in DATE. That was up from PERCENT of its employees at that pay level in DATE.
""Do we do that because we're mean?"" ORG said of the falling wage rates. ""No. We did that because we have to promise our customers a PERCENT price reduction.""
Facing union demands for greater job security, ORG must find a way for its massive ORG parts business to stay competitive in the worldwide auto supplier market.
In the current talks, ORG has said CARDINAL of its GPE component facilities are underperforming and should not be subject to the job guarantees the ORG has received from other automakers.
Even if it accepts the economic terms already agreed to by ORG and ORG , ORG and ORG will pay the average GPE parts worker a base wage of MONEY an hour in DATE of the contract, and MONEY in DATE, DATE of the agreement.
PERCENT of ORG's workers are located in GPE, where the combined TIME wage and benefit cost of a ORG worker under the DATE national agreement is MONEY.
ORG, with DATE revenues of MONEY, is in CARDINAL businesses around the world. Global expansion remains a focus for the company, which DATE expects PERCENT of its revenues to come from customers outside of ORG's ORG, ORG President PERSON said DATE.
But as ORG's comments indicate, the global auto supplier industry is growing increasingly competitive.
The worldwide TIME wage rate for assembling a labor-intensive part such as a wire harness is MONEY, he estimated. More technical parts cost $MONEY an hour. ORG said workers in GPE will earn $MONEY a month working TIME a week putting together wiring harnesses for ORG.
""If you are regionally competitive but not globally competitive, you will unlikely be a supplier to ORG,"" PERSON told the gathering of suppliers in GPE.
ORG, based in GPE, GPE, is the biggest unit within ORG, and CARDINAL of the largest independent auto suppliers in the world.
The company, which has DATE sales of MONEY, makes brake and chassis systems, as well as body and electrical components such as motors, actuators and wiper systems. ORG estimated the company's average global total wage costs at MONEY an hour.","ORG said DATE it reached a DATE deal with ORG that thrusts ORG into the top tier of GPE wireless communications providers.
However, analysts said that while the PRODUCT deal should allow ORG to compete with other wireless industry heavyweights like ORG, and ORG and ORG joint ventures, ORG's wireless investment remains a cautious one.
ORG has opted to function as a major reseller of wireless services instead of paying the hefty price required to buy cellular operating licenses and to build the network infrastructure needed to offer the new services.
Under terms of the PRODUCT deal, ORG will offer wireless services to CARDINAL potential customers in CARDINAL GPE cities, including CARDINAL of the top CARDINAL metropolitan markets.
GPE-based ORG said it will purchase from ORG over DATE at least 10 billion minutes of capacity to offer wireless personal communications services.
ORG also said it will plug the ORG network into ORG's, enabling ORG to offer wireless services as a seamless part of its overall package of long-distance, local access, Internet and data communications services.
""This agreement with ORG establishes an immediate nationwide ORG footprint for ORG and represents an important next step in ORG's wireless strategy,"" said PERSON, vice president for ORG wireless strategy and development.
""This is the ORDINAL full interconnection agreement of its kind and brings new competition to the wireless marketplace,"" he said, noting that with full interconnection, ORG does not need to own wireless facilities.
ORG (ORG) represent a new generation of cellular communications services, allowing customers to send both voice and data transmissions over wireless telephones.
Terms of the deal were not disclosed, but the ORG official said the price per minute would be ""competitive"" with expected rates for wireless phone services over DATE.
As part of the deal announced DATE, ORG selected ORG to provide telecommunications and other services supporting the development and ongoing operations of its personal communications services system, ORG said.
NextWave, which is based in GPE and GPE, was founded DATE by PERSON, a former executive at ORG, developers of the wireless communications technology PRODUCT plans to use on its proposed network.
PRODUCT is backed by a host of blue-chip venture capital funds and consumer electronics makers who have chipped in a total of MONEY in private financing. The company also is planning an initial public offering of stock.
The ORG deal will help underpin the financial future of debt-laden PRODUCT, which was the largest bidder in ORG auctions for ""C-band"" wireless radio spectrum held DATE.
NextWave paid MONEY for its CARDINAL city licenses. Among the major markets where Nextwave has won the chance to operate are GPE, GPE, GPE, GPE and GPE.
That bidding process, and additional auctions that coincidentally got under way in GPE DATE, are designed to allow entrepreneurial companies a shot at competing in the emerging markets for wireless communications services.
For ORG, the deal enables it to expand quickly into the rapidly growing market for wireless personal communications services after having missed several chances to enter the business in DATE.
In DATE, ORG dropped out of an earlier round of ""big-league"" auctions for ORG licences after the bidding became too rich for its taste.
Previously, ORG had flirted with the acquistion of ORG as a route into the wireless arena.
While impressive sounding, analysts noted that ORG's committment to buy an average of one billion DATE over DATE from ORG represents a conservative bet on the growth of the wireless phone market.
One billion minutes of air-time amounts to a fraction of current cellular phone use, which is estimated to be running at QUANTITY DATE, based on industry calculations of CARDINAL subscribers.
ORG said the PRODUCT agreement is a model for additional agreements it expects to sign with other wireless providers as part of its wireless interconnected network strategy.
""This was ORG's strategy all along,"" said PERSON, an GPE-based telecommunications industry analyst.
""Reselling service was how they became a heavy hitter in long distance in the ORDINAL place,"" PERSON said. ""What their plan is, is to resell service from other providers and build networks where they see the need to do so,"" he said.
Industry analysts expect to see ferocious price-cutting among wireless telephone service providers as competition heats up, and the latest deal will make it even more intense.
ORG's stock gained $MONEY to close at $MONEY on the ORG.",0
"Internet access providers and others who met with Net-savvy lawmakers said they fear ORG will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network.
Company representatives met TIME at the FAC with members of ORG, CARDINAL legislators with a common interest in the Net, to express their hopes and fears about efforts to make laws governing cyberspace.
""I think it's inevitable that there will be bills introduced that attempt to legislate the content of everything on the Internet,"" PERSON, vice president of ORG ORG Internet service, said after the meeting.
PERSON said it would be as difficult to keep ORG from making wrong moves as it would be to get the legislature to act to head off problems.
PERSON, president of Internet provider PSINet Inc., was more blunt. ""Be very careful or you will destroy this industry,"" he warned.
The members of ORG who attended the meeting pledged to try to protect the Internet.
""We have a lot of pretty tough work ahead of us,"" Rep. PERSON, GPE-Pa., and a co-chairman of the caucus conceded. ""We have many, many issues coming down the pike from encryption to privacy, to copyright and taxation.""
Encyrption is the use of software to encode and decode information.
Sen. PERSON, also a co-chairman, warned that, despite the caucus, legislation will always trail developments in the private sector.
""The government making policy is never ahead of the curve,"" the GPE NORP said. ""If we do the right thing now, I guarantee you that by the time it's passed and the president signs it, we'll be behind the curve.""
DATE was a mixed bag for the Internet in ORG.
Legislators passed the Communications Decency Act, opposed by online companies and civil libertarians as an infringement on free speech rights, but also defeated measures that would have imposed liability on Internet providers for copyright infringement.
ORG chief scientist, PERSON, fretted that, with CARDINAL pro-Internet legislators out of CARDINAL in the ORG and CARDINAL in the ORG, most in ORG remained ignorant of the Net. ""We've got a long way to go,"" he said.
Companies interested in the Internet offered some conflicting goals for ORG. PERSON, president of ORG, urged the legislators to impose new laws protecting GPE products.
""ORG cannot avoid that all intellectual property has to be protected -- this can't be GPE without a sheriff,"" ORG said. But he also praised the Internet as ""the most valuable and spacious information greenhouse that's ever been built.""
PSINet's Schrader countered that existing laws already protected movies, books and other works. ""Everything is not new,"" he said. ""It's the same-old, same-old.""","ORG is reshaping its operations to concentrate on its low-cost gold deposits in the Timmins area and GPE, the company president said DATE.
""We have refocused our strategy to bring on very low-cost production,"" PERSON said in an analysts' conference call. ""It's very clear that's where ORG future lies.""  
The GPE, GPE-based gold producer said DATE it will close down its mine in GPE, GPE, and write down the reserves at its PERSON mine in GPE.
ORG expects to take MONEY in charges because of the Hope Brook and PERSON decisions. After tax, the charges will amount to a decrease in net income of MONEYMONEY a share in DATE.
The company plans to move most of the mining and mill assets from FAC to its GPE project in northern GPE.  
""It's a very positive story for us being able to redeploy those assets, and we did not want to spread our senior management too thin,"" ORG said, explaining the decision.
PERSON will shut down in DATE, while GPE is expected to start production in DATE, ORG said.
The company recently increased its gold reserves at its Timmins and Matachewan properties, decided to expand its GPE and is putting together a feasibility study for an expanded open pit in the area.  
The northern Ontario mines, along with production expected in DATE from the PERSON copper and gold mine in GPE, will boost production and decrease costs significantly for ORG, said chief financial officer PERSON.
The company expects to produce QUANTITY at a cash costs of US$MONEY an ounce in DATE. In DATE, production will rise to QUANTITY at a cost of US$MONEY or US$MONEY an ounce. By DATE, the company expects QUANTITY at MONEY an ounce, and in DATE, production should be QUANTITY with costs in the low US$PRODUCT, ORG said.  
""Although we have closed out PERSON cash costs are somewhat disappointing at ORG, the future of the company, with the Pamour expansion, looks very bright for us in terms of production and our average cash costs,"" he said.
The company reported DATE profits of MONEY a share, up from MONEY or C$MONEY a share DATE.
Gold production rose PERCENT in DATE to QUANTITY from QUANTITY during DATE.
The increase came from the Pamour mine in LOC, which produced higher grade ore.  
Revenue was PERCENT higher in DATE, mainly because of a successful hedging program. The company realized a gold price of US$MONEY per ounce, compared to US$MONEY an ounce at the same time DATE.
ORG expects to produce QUANTITY of gold in DATE at a cash cost of US$MONEY an ounce. The lower production level and increase in cash cost from previous estimates are a result of lower grade ore at ORG.
-- ORG CARDINAL CARDINAL",0
"ORG DATE reported a MONEY loss in DATE and warned investors it did not expect to return to profitability until DATE.
The troubled computer maker attributed the loss to slow sales of its its consumer-oriented Performa desktop computers during the normally robust DATE.
ORG's loss, which equalled MONEY a share, compared with a loss of MONEY, or MONEY a share, in the DATE period. Sales for DATE DATE fell to MONEY from MONEY.
Based on DATE results, the company said it planned to develop additional restructuring programmes during DATE with the goals of reducing its break-even point to MONEY in DATE revenues and enabling ORG to return to  profitability by DATE, which ends DATE.
Previously, ORG had promised to return to sustainable profits by DATE but industry analysts had started to question that goal after ORG disclosed DATE that sales of its Performa line were running behind plan.
""While we were very disappointed by the Performa sales results and the associated loss, our financial position remains sound,"" said ORG Chief Financial Officer PERSON. ""We exited DATE with MONEY in cash and continued to show improvements in our inventory management during DATE.
""Additionally we saw a PERCENT sequential increase in our high-end Power Macintosh sales,"" he said. ""We significantly exceeded our internal plans for shipments of ORG and expect their availability to continue to improve in DATE.""
Nevertheless, analysts said the results, which ORG forecast DATE represented a setback for ORG Chairman PERSON, who had set a goal of stanching ORG's losses in DATE.
""Our expectations now do not show a profit until DATE, which ends in DATE,"" said PERSON, analyst at brokerage ORG in GPE.","ORG said DATE it plans to to work with a restaurant operator to open cybercafes in GPE and LOC starting DATE.
The ORDINAL-biggest maker of personal computers licensed its name and famous CARDINAL-eaten apple logo to GPE-based ORG, a developer of theme parks. PERSON will develop a high-tech chain of eateries where patrons can surf the Internet, play games and eat.
ORG said the restaurants are part of its plan to spread its famous brand into the everyday world, as other non-gourmet companies, such as ORG and ORG, have done.
The ORDINAL restaurant, slated to open in GPE in DATE, will flaunt ORG's computers at every table, the company said. Customers can browse the World Wide Web with high-speed access, check out the latest CD-ROM titles and send e-mail.
Restaurants in GPE, GPE, GPE, GPE and other cities will follow, ORG said.
ORG, based in GPE, GPE, will only make money from the licensing agreement, an ORG spokeswoman said. Terms of the agreement weren't disclosed. PERSON will run the restaurants.",1
"QUANTITY of copper held in GPE bonded warehouses, confounding the world market as to its source and ultimate fate, probably belongs to GPE's strategic state reserve, industry sources said on DATE.
QUANTITY of the copper have already been moved to warehouses near the northern port of GPE, where some of the strategic stockpile was stored, they said.  
Just who owns the copper is a question that has kept traders and industry analysts guessing since the metal was channelled into GPE by ORG (ORG) in DATE and DATE.
It was unclear whether or not QUANTITY had cleared customs -- which would provide some concrete indication that the strategic reserve, administered directly by the central government's ORG, owned the copper.
Traders have said the reserve could negotiate concessions on duties -- PERCENT import tax and PERCENT value-added tax -- that made the copper prohibitively expensive otherwise.  
But CARDINAL source, the head of a GPE trading house, said it made no difference if the copper was customs cleared or not.
""If they spend all this money moving the copper to GPE, it will be sitting there for DATE,"" he said.
""Once it arrives in GPE, it is subject to monitoring by ORG, which has to give permission for any more movement; it is out of the hands of traders,"" he said.
Mystery has surrounded the GPE stockpile in DATE, with traders unsure not only of who owns it, but of its exact size and what its owner planned to do with it.  
Trading sources generally agreed it would be cost-effective to take the copper back into a depleted central reserve as it had already served its purpose in taking advantage of long-term backwardation on ORG (ORG).
A backwardation occurs when the spot price of a metal is higher than the forward price.
ORG lent QUANTITY of copper onto the ORG DATE on behalf of the state reserve, running the state stockpile down to QUANTITY from QUANTITY previously.  
Traders in LOC said PERSON could well have lent it to the market at around US$MONEY a tonne, and then paid somewhere MONEY a tonne when it started taking the metal back DATE.
This would have cleared ORG a healthy profit, which could then have been used to finance storage and other costs.
Word that ORG had offered the copper to NORP trading houses in a series of secret meetings unnerved an already jittery market.  
Industry analysts ORG (ORG) said on DATE the motivation of the owners of QUANTITY, ""whoever they are, is the most important short-term fundamental"" in an already tight world market.
BME repeated in its latest review rumours of involvement by ORG, with ORG said to be helping the NORP trader unload its copper positions after it revealed in DATE losses of MONEY in DATE of unauthorised deals.
ORG and ORG have made no comments on the talk and NORP traders said they know nothing of such an arrangement.  
Traders in GPE said on DATE they were unaware of movements out of the GPE bonded warehouses. They reported more arrivals that were probably spot purchases.
They also expressed concern that the tonnage in bonded warehouses would move onto the domestic market.
But these concerns were irrelevant, a GPE trader said, despite a forecast that domestic NORP copper demand could hit QUANTITY DATE.  
As with many commodities, ""there is a desire (by the NORP government) to keep a stockpile of the metal,"" he said. ""You don't keep it to help industry, you keep it in case of emergency.""
-- GPE newsroom (CARDINAL) 2843-6470","ORG has been cancelling soybean and soybean meal orders in the wake of tumbling world prices came as no surprise to NORP grain traders on DATE.
""Prices have dropped US$MONEY (a tonne) since DATE -- there is the incentive,"" a GPE trader said.
""If you can buy cheaper material, then you probably will, no matter who or where you are,"" he said. ""But there is no unsold cargo in the market. Most has been committed. We're sold out.
""So the CBOT (ORG) drops $MONEY, can you buy cheaper? No. There is no physical available,"" he added.
CBOT soymeal prices closed lower on DATE on fears GPE might have been cancelling soybean and soymeal purchases following the recent price slides, traders there said.
Soymeal closed unchanged to $MONEY a tonne lower, with DATE down $MONEY to $MONEY a tonne.
NORP grain traders could not confirm the rumours.
Traders DATE reported total soybean and soybean meal purchases by GPE of QUANTITY. The sales would show up in ORG figures DATE.
The NORP swoop on the market followed an extended public holiday while GPE celebrated EVENT on DATE.
During those three weekdays of rest -- DATE -- CBOT soy product prices fell on worries among traders the crop would be bigger than expected.
GPE scooped up CARDINAL of beans and meal. Traders reported PERSON (cost and freight) prices at MONEY a tonne.
On DATE, however, traders said NORP buyers, notorious for their price consciousness, would be keen to get even better prices and to increase their profit margins.
""Now that NORP buyers are responsible for their own profit and loss, this is becoming more frequent,"" another GPE trader said.
The shortage of physical availability would see NORP buyers who wanted to increase their margins by cancelling previous orders missing out altogether, he said.
""They are still waiting for the dust to settle down, and maybe the price will stabilise in DATE,"" he said.
""The price DATE is affordable for the NORP but they are wanting prompt delivery and there is none around for them.""
GPE is in the midst of the peak soymeal consumption season and has been expected to import significant quantities before DATE.
The possibility that a new import tax regime will be introduced from DATE, would serve to dampen orders in DATE, traders said, and orders for delivery before DATE should be high.
Ideally, imports should arrive before new crop soybean products start coming on to the market in DATE, a NORP trader said.
Before then, GPE should have imported QUANTITY of soybean meal to make sure the larders are full for EVENT, which in DATE falls in DATE.
""Feed industry demand will go down DATE after DATE, so we will see increased domestic supply and decreased demand from DATE to DATE,"" he said.
""Then from DATE demand will go up again so they will need more imports.""
This DATE's soybean crop is expected to be PERCENT down on QUANTITY harvested in DATE.
-- GPE newsroom (CARDINAL) 2843-6470",1
"GPE said on DATE its jailing of leading dissident PERSON for DATE was not a human rights issue but an ordinary legal matter that would not hurt GPE's sensitive ties with GPE.
A NORP court on DATE took TIME to condemn former student leader PERSON to DATE in prison for plotting against the government, in a verdict that prompted quick expressions of deep concern from GPE.
ORG spokesman PERSON said ORG's trial and conviction were entirely legal matters.
""The trial of PERSON is entirely a NORP legal procedure carried out in accordance with the law,"" he said. ""It has no connection with human rights or other issues.""
Shen said the verdict would not cause further damage to cross-Pacific relations that have long been sorely tested by disputes over GPE's human rights record and other issues.
""The case of PERSON has nothing to do with the issue of human rights,"" Shen told a news briefing in GPE.
""I don't think the case of PERSON will have any effect on NORP relations,"" he said.
EVENT sentenced ORG, DATE, to DATE in prison and stripped him of his political rights for a further DATE, in a trial hailed by NORP state media as a model of fairness.
International human right activists rushed to condemn the verdict, while NORP governments expressed their dismay at the severity of the sentence imposed on the former leader of the ill-fated DATE pro-democracy demonstrations in GPE.
PERSON, who once promoted free debate in the campus of ORG, had already served DATE in prison for his role in the DATE protests that were crushed by the army with heavy loss of life.
GPE officials greeted the verdict with expressions of concern and with strong praise for the jailed dissident, hailing him as one of GPE's premier voices for human rights.
""We are deeply concerned by the sentence that has been given to PERSON,"" ORG spokesman PERSON said on DATE.
""We urge the NORP authorities to show clemency to this courageous man, whose championing of democratic values has gained him deserved international recognition,"" said ORG spokesman PERSON.
NORP-U.S. ties have long been strained by disputes over human rights, trade, copyright theft in GPE and GPE, but both sides say tensions have eased in DATE after a series of high-level meetings.","GPE's economy grew by PERCENT in DATE, but many urban family incomes are lagging behind, ORG said DATE.
NORP industrial output was up, farmers were on their way to a year of record grain harvests and the scourge of inflation had been tamed to a year-on-year PERCENT in DATE, bureau spokesman PERSON said.
""The development of the macro-economy overall appears good,"" PERSON told a news conference.
Gross domestic product was MONEY (MONEY) DATE, up PERCENT from DATE, PERSON said, but gave no details. GPE's GDP grew by PERCENT in DATE.
The average urban income rose to MONEY ($MONEY) DATE, an actual year-on-year increase of PERCENT, he said.
But the incomes of many urban residents are lagging behind as GPE's economy booms, PERSON said.
A survey of CARDINAL major cities and towns had revealed that the incomes per family member of PERCENT of households had declined, he said.
Some of the decline was the ordinary result of the birth of children or the retirement of older family members, he said.
""The ORDINAL kind of situation is when the level of income falls or the level of income growth cannot keep up with inflation,"" PERSON said, adding such problems were the cause of the income fall in CARDINAL the families surveyed.
""The difficulties of some low-income urban families have been aggravated,"" he said.
He gave no explanation of the decline in incomes suffered by some urban wage-earners, but many surplus workers in GPE's huge and largely stagnant state sector have been sent home on minimum salaries.
Although such workers are not considered unemployed and the state sector is highly reluctant to fire employees, GPE's urban unemployment rate hit PERCENT at DATE, PERSON said.
The number of unemployed in NORP cities reached CARDINAL, he said, but gave no comparative figures.
GPE's urban jobless rate was PERCENT by DATE, the same as the official figure for DATE, but state newspapers have warned that unemployment, a major concern for GPE's communist leadership, could shoot up to PERCENT by DATE.
Optimism over the economy and the success of a continuing policy of tight credit aimed at curbing inflation and reining in runaway growth has been boosted by predictions DATE will be a bumper year for GPE's CARDINAL of farmers.
Government policies had encouraged farmers to increase the area of land under grain, and grain output DATE was forecast to exceed QUANTITY, beating the DATE record harvest by QUANTITY, PERSON said.
GPE had set a target of QUANTITY for DATE.
Other figures released by ORG also painted a positive picture of an economy that GPE says is on target for a ""soft landing"" after DATE of breakneck growth.
DATE retail price inflation in DATE was curbed to PERCENT, down CARDINAL percentage points compared with DATE, PERSON said.
The ORG on DATE quoted economic tsar PERSON as forecasting inflation would be PERCENT in DATE and as saying it would be possible to cut it to PERCENT DATE.
Retail inflation hit PERCENT in DATE.",1
"NORP lawmakers met on DATE in an TIME bid to rescue a bill that would strip drug barons of their fortunes and help avoid GPE economic sanctions.
An CARDINAL-member conference committee was debating whether to override the lower house of ORG and empower the government to seize drug-related assets accumulated over DATE.
In a narrow CARDINAL-57 vote DATE, ORG rejected the DATE time limit, previously approved by the ORG, ruling instead that criminal assets could only be seized if they had been amassed after DATE.
The conference committee meeting was convened under intense pressure from President PERSON and senior ministers. They condemned the lower house's decision as a ""virtual amnesty"" and raised fears that GPE would impose economic sanctions on GPE in retaliation for its failure to crack down on billionaire drug lords.
The committee is widely expected to toe the government line and send the bill back to a plenary session of ORG, recommending that the DATE time limit be reincorporated.
GPE's business community has taken an unusually outspoken approach and been vociferous in calls to ORG to approve an asset forfeiture law with a DATE clause.
GPE decertified GPE as an ally in the drug war DATE. DATE, it withdrew ORG's GPE entry visa, citing allegations that he financed his DATE election campaign with drug cartel cash. Foreign Relations Minister PERSON said DATE there is a very real prospect of GPE economic sanctions starting DATE.
Other anti-drug legislation that GPE has demanded, such as stiffer sentencing and the reintroduction extradition, has been watered down or sunk in ORG in DATE.","NORP President PERSON has been moved out of intensive care DATE after surgery to remove a malignant tumour from his lung, but he will have to spend DATE in hospital, doctors said on DATE.
""Mr. President has ended his stay in the intensive care unit and has been moved to a standard-care room,"" the head of ORG's medical team, Dr. PERSON, told a news conference.
He said that there were no further complications and the DATE ORG's health was improving, but doctors felt his recuperation would be handled better in hospital.
It was not yet clear how long it would be before ORG could go home.
Havel, who had been fighting complications from the surgery which removed CARDINAL of his right lung, was taken off a respirator which had been installed through his throat DATE. He has been able to speak occasionally.
His team of doctors have said that the cancer was caught at an early stage, and that there was no sign of the disease spreading to other tissue.
Pneumonia developed in the other lung after the surgery and caused a high fever, but both the pneumonia and the fever have subsided.
Havel, the chain-smoking dissident playwright who helped lead GPE's DATE bloodless revolution which overthrew communism, entered hospital on DATE, after his office said he had been fighting a case of pneumonia.
Presidential spokesman PERSON said ORG would write his traditional EVENT address, but it would be shorter than speeches given in the past.
He said it would be determined DATE whether or not ORG himself would give the speech.
ORG's EVENT speeches usually take stock of the moral state of NORP society and the development of democracy in the country.
The president, a widower after his wife PERSON died of cancer DATE, has received get-well wishes from heads of state around the world, and CARDINAL of letter from Czechs.
ORG has publicly thanked ORG's companion, the NORP actress PERSON, for her support in helping the president through his recovery.
Havel, whose position is more ceremonial than executive, has relinquished none of his constitutional powers.",0
"CARDINAL of GPE largest cocoa and coffee exporters, PERSON, will appoint a liquidator for its loss making up-country buying subsidiary, ORG, but exporters and buyers say port arrivals will not be affected.
""Our cost calculations were wrong and farmers never really caught on to our new ideas,"" PERSON, spokesman for ORG, owners of the ORG buying subsidiary, told ORG in an interview. ""We lost too much money and could not go on refinancing debts.""
""Purchase volumes were too small and farmers' debts became a vicious circle,"" said ORG, managing director of ORG, a holding company set up by SIFCA to run ORG.
ORG's warehouses could be empty for the rest of the season after a liquidator is named DATE, and PERSON would probably take back assets it wanted, he added.
Liquidation is expected to take DATE.
Minority PERCENT shareholder PERSON, an NORP exporter, was not immediately available for comment.
UCEPAG figures show cocoa purchases of QUANTITY of cocoa and QUANTITY of coffee in CARDINAL, but other exporters said the figure was underestimated. In CARDINAL the amounts were shown as QUANTITY.
SOGEPAG was set up in DATE and guaranteed farmers fixed farmgate prices when world prices dipped. It paid official reference prices while other buyers paid less, said ORG.
""Our operation was based on protection against prices going down, but prices went up after DATE,"" he said. ""The aim was to take PERCENT of the market in DATE but our sales only rose by PERCENT a year.""
The total NORP cocoa crop in CARDINAL was QUANTITY.
Up-country buyers said ORG had not understood buying strategy upcountry. It paid cash but sometimes DATE late.
""Our strategy was wrong. ORG preferred immediate cash in hand, even if less than our prices,"" said ORG. ""We gave prefinancing and logistical support to farmers on good terms and then they would sell to someone else.""
SOGEPAG built up the number of its sites to CARDINAL from CARDINAL at its inception.
Other exporters said ORG's closure would have no effect on the market. ""SIFCA and ORG will probably take control of the key assets and others will step in to buy whatever is sold,"" said CARDINAL.
""We will buy some of their trucks,"" said CARDINAL buyer. ""No cocoa will be left in the bush.""
SOGEPAG has CARDINAL vehicles, mainly collection trucks and tractors it used to hire to farmers and GVCs -- farmers' cooperatives which aim to sell directly to exporters.
SIFCA's parent PERSON is a main distributor of ORG vehicles.
ORG said ORG was owed MONEY for vehicle hire at CARDINAL point but CARDINAL had been repaid. ""Farmers saw us as a cash cow,"" he said. ""Variable cost inflation after depreciation of the ORG also got out of hand.""
He said many modern trucks on the market were too sophisticated and expensive for farmers.
Some industry analysts said farmers had made money out of ORG but did not see why a decision had been taken to close operations at this point.
""It is a pity for the farmers.  ORG had just approved funding for us to give them more training,"" said PERSON. ""Now they will be paid less than reference prices and many GVCs have poor little logistical expertise.""
PERSON, the world's largest cocoa producer, opened its CARDINAL cocoa marketing season on DATE, setting farmgate cocoa prices unchanged at CARDINAL ORG per bagged kg but delaying an announcement on guideline buyers and exporters rates.
(MONEY)
-- Abidjan newsroom +225 CARDINAL","Ivorian CARDINAL cocoa arrivals stood at QUANTITY by DATE, analysts and exporters said.
The DATE figures were down from QUANTITY by DATE, but some analysts said a further QUANTITY should be added to this DATE's figures for comparative purposes as the season had opened DATE late.
""The gap from DATE will widen in DATE but DATE and DATE look good,"" CARDINAL exporter said. ""Arrivals are down from CARDINAL DATE to probably QUANTITY by DATE.""
PERSON opened its DATE (DATE) DATE than usual on DATE and initially expected a total crop of QUANTITY.
QUANTITY had arrived from DATE to DATE.
The sources said that QUANTITY had been taken by GPE ORDINAL port, GPE, so far this season. GPE CARDINAL main ports usually take less cocoa over the Christmas and EVENT holiday periods.
Some cocoa is likely to be delayed by drying problems. Weather analysts point to rain in DATE, normally DATE.
But cocoa inspectors say quality is good, with humidity levels of PERCENT and widely ranging bean sizes averaging CARDINAL per CARDINAL grammes -- well within the export standard of CARDINAL per CARDINAL grammes.
""Some people are also concentrating on buying coffee,"" said CARDINAL exporter. A large and slightly earlier CARDINAL coffee crop was diverting attention from cocoa, exporters said.
DATE cocoa crop rose to a DATE peak before dropping off in DATE, with arrivals in CARDINAL reaching QUANTITY by DATE before the season ended with a record QUANTITY.
An unexpectedly strong mid-crop (DATE) boosted CARDINAL output, so analysts are now scouting cocoa plantations to calculate the prospects for DATE as flowering begins.
A different CARDINAL cocoa crop profile is expected.
""The curve is flatter but more sustained than DATE. DATE and DATE arrivals will push figures up again,"" said CARDINAL analyst. Mid-crop forecasts are expected DATE.
Port stock levels are unknown, but one set of figures showed exports since DATE totalling QUANTITY. Port sources said large shipments of QUANTITY had since left but updated figures were not available.
Large stores of cocoa could be seen around GPE and GPE ports DATE.
""There is plenty of cocoa around and stocks now just depend on when and if contracts are going to be met,"" said CARDINAL port source. ""People either have cocoa but no contracts or they simply have not shipped yet.""
Some companies said tallying arrivals had been more difficult since personnel changes in the PRODUCT cocoa marketing agency made by its new managing director, PERSON.
""Information is thinner on the ground,"" said CARDINAL exporter.
Exporters said continuing arguments with the PRODUCT over some of its official cocoa and coffee marketing and reference shipping freight rates, as well as its new electronic cocoa contract auctioning system, could also have slowed activity.
""The PERSON (exporters' trade body) is still in discussions (with the PRODUCT),"" said CARDINAL exporter.
-- Abidjan newsroom +225 CARDINAL",1
"GPE's ORG declared on DATE a QUANTITY (MONEY) special bonus for life insurance policies, following discussions with the government on ownership of surplus insurance funds.
The payout will apply to all ""with profits"" policies in force on DATE. Details will be given with the DATE bonus due to be announced DATE.
The company said DATE it discussing with ORG (ORG) ownership of long-term assets, and a way to distribute the surplus to policyholders and shareholders.
Britannic has now agreed with the ORG that MONEY of the excess assets within the long term fund can be attributable to shareholders.
Britannic also said it intended to increase its dividend for DATE by PERCENT to MONEY per share following an increase in life profits. This would be the basis for continuing the company's progressive dividend policy.
The news boosted ORG shares, which jumped MONEY, or PERCENT, at CARDINAL stage before settling for a rise of MONEY at CARDINAL.
The money attributable to shareholders forms part of total assets in the life funds which amounted to MONEY at DATE.
Those assets were estimated to have risen by DATE, ORG chief executive PERSON said, and updated figures would be released on DATE.
Britannic also announced a restructuring of its long-term funds and the results of a strategic review of its business.
The review will lead to new sales management and premium collection systems, streamlining of head office and investment in market analysis and product research.
The initiatives are expected to cut operating costs by around 25 million pounds, based on DATE figures.
Britannic said it planned to build on its brand, investment management and distribution skills, financial strength and product development abilities to strengthen its position and improve value to policy and shareholders.
Restructuring the long-term fund will create CARDINAL continuing ""with profits"" funds, CARDINAL for its industrial branch and the other for the ordinary branch -- life and pensions business.
In future at least 90 percent of the surplus in the with profits funds will be allocated DATE to with profits policies. The balance will be shareholders' profit for transfer to the profit and loss account.
The company has also created CARDINAL separate non-profit sub funds -- CARDINAL for life, CARDINAL for pensions -- which will contain non-profits business and both of which will be owned by shareholders.
The shareholder transfer for DATE will be increased by MONEY following the declaration of the QUANTITY special bonus. ($ = MONEY)","ORG, GPE's biggest life insurance group, reported a healthy rise in profits on DATE and said NORP operations were expected to perform strongly again in DATE.
But the company made no comment about negotiations with ORG (DTI) over the ownership of so-called orphan assets.
Prudential (Pru) finance director PERSON said discussions with the ORG were continuing, but said it was difficult to say how long they would last.
""We always thought they would take a long time and there's nothing sensible that can be added to that. I think discussions will continue for a while yet DATE.""
CARDINAL analyst suggested that it was encouraging that the company had passed up the opportunity to tone down expectations.
The Pru is believed to be looking to free up MONEY (MONEY) of orphan assets -- money built up in with-profits funds surplus to policyholders' needs.
Pru operating profits for DATE rose PERCENT to MONEY, with profits from continuing operations of MONEY.
The combination of the confidence about new business prospects in DATE and a higher-than-expected level of profitable new business in DATE helped lift the shares by MONEY to MONEY.
A PERCENT rise in the dividend to a slightly higher than forecast MONEY per share also provided support.
Pru's chief executive Sir PERSON called it DATE and said the results demonstrated the strength of the group's core business.
With the disposal of ORGamp; General (M&G) and the launch of ORG, considerable progress had been made in focusing the group on markets where the Pru had the expertise and the critical mass to generate real value for shareholders, he said.
The sale of M&G for MONEY in DATE realised a profit of MONEY.
ORG, launched on DATE, is already processing applications for MONEY of mortgages and has taken MONEY in deposits.
The company plans to expand the product range and move in to the personal loan market DATE.
PERSON repeated the ORG's interest in establishing the high street distribution network which a building society acquisition would provide. With net cash at DATE standing at MONEY, the group has the financial strength to contemplate such a move.
But ORG said it was unlikely to make a move unless it enhanced shareholder value which, given current price levels in the sector, may be difficult to pull off.
The Pru is currently involved in a takeover battle for ORG and made an initial QUANTITY offer for the mutually-owned life insurer DATE, MONEY of which will come from shareholders' funds.
Prudential GPE operating profits from the insurance business increased PERCENT to MONEY and profits for the savings and investment business were MONEY, an increase of PERCENT.
After cutting ORG GPE's cost base by MONEY over DATE, it was approaching a point of diminishing returns, though the group was looking to reduce unit costs further, PERSON said.
GPE operations ORG saw operating profits growing PERCENT to MONEY.
While confident about the outlook for the business, PERSON said growth was unlikely to continue at the PERCENT rate seen in DATE. ($ = 0.610 NORP Pounds)",1
"Base-metals producer PERSON forecast on DATE another tough year of cost-cutting, warning that a weak zinc market and a strong NORP dollar would make its DATE profit hard to beat.
""We are going to have DATE,"" chief executive PERSON told reporters after delivering a subdued earnings outlook to shareholders at the group's DATE meeting here.
Pasminco surprised financial markets markets in DATE by reporting a tripling of net profit to MONEY for DATE, despite weak prices for its major product, zinc.  
World zinc prices have not moved dramatically since then, but a stronger NORP dollar has made a major impact, dragging DATE profit for CARDINAL lower, PERSON said.
""In DATE, our result...is below DATE because of the impact of the (NORP) dollar,"" he said.
For every MONEY rise in the value of the NORP dollar against the greenback, Pasminco suffers a MONEY fall in after-tax profit, PERSON said.
The local dollar on average was MONEY stronger in DATE than its average throughout CARDINAL, he added.","Struggling to stay on course away from its troubled past, ORG now must find a new chief executive to take the helm of the troubled carrier.
How quickly it can find an experienced airline executive for the job will determine whether it stays on course or runs into more financial trouble, industry analysts said.
The GPE-based airline said on DATE that Chief Executive Officer PERSON, who has headed the company for DATE, will leave in DATE.
""The last thing that the company needs now is more management turmoil,"" said CARDINAL analyst, who declined to be identified. ""It doesn't have a strong or stable enough footing to deal with this kind of stuff.""
PERSON's departure comes DATE after Chief Financial Officer PERSON left the company. At the time, ORG said PERSON's decision to leave was over differences in management direction.
""They're going to have to regain the confidence of Wall Street,"" said PERSON, who follows the airline industry for ORGamp; Co., which is based in ORG's hometown. ""The only way they're going to do that is by coming up with a leader that's a proven turnaround (manager), or well-respected in the industry.""
PERSON, who became chief executive officer in DATE, brought the airline through its ORDINAL bankruptcy reorganization and back to where it was buying new aircraft. But the turnaround is not finished, and higher fuel costs and the DATE crash of GPE-bound PRODUCT, which hurt confidence in the carrier and therefore its sales, have stalled the company's improvement.
""PERSON was the one who really steered them through DATE of the turnaround, but they still have a way to go,"" PERSON said.
The company on DATE reported a MONEY DATE loss and said its yield, a measure of fares, fell in DATE.
""I don't know specifically the reason he chose to depart now,"" said PERSON, chairman of the ORG Master Executive Council of ORG. ""I think it's probably an impact of DATE financials and PRODUCT.""
ORG's unions have CARDINAL seats on the company's board of directors and will play a part in choosing a successor for ORG, ORG said, though he could not suggest possible replacements.
""We would expect that the board would replace PERSON with a top-notch airline manager,"" he said. ""As both employees and the stockholders in the company, we will be concerned and involved in that.""
Industry experts said ORG's board of directors might have become impatient with the pace of the turnaround after seeing the DATE results. But they also quickly defended PERSON's record at the company.
""When you see what ORG was DATE and what it is now, it's a world of difference,"" said PERSON, president of ORG, a research and consulting firm  in GPE, GPE
Calls to PERSON at ORG's offices DATE were transferred to a public relations office, which said he was unavailable for comment. ORG Chairman PERSON did not return calls.
Analysts said ORG's board would need to move quickly and that the next chief executive would need a good degree of independence from the board.
""Whatever they do to replace PERSON, they need a hands-on manager, not a messiah,"" PERSON said. ""In a situation like this, you have to have free reign. You can't have people behind you ORDINAL-guessing every one of your moves.""
PERSON said several managers at ORG might be interested in the job. He also suggested that former ORG Chief Executive PERSON could be a candidate.
DATE, PERSON, who was criticized by families of the PRODUCT 800 victims for the company's response to the crash, told students at ORG in GPE that the aftermath of the crash was draining, said PERSON, dean of the university's business school.
""I can't help believing the crash just took a lot out of PERSON,"" said PERSON, who said he is a friend of PERSON's. ""That was so difficult for him, as it would be for any human being, to try to represent the company to the world"" after the tragedy, in which CARDINAL died.",0
"Sales of light vehicle in DATE are expected to be down PERCENT from an unusually strong month DATE, but analysts say the pace was robust enough for DATE's total to match industry projections of CARDINAL units.
ORG will endure the largest drop of the Big Three, with the DATE sales rate off by PERCENT from DATE, according to PERSON, an analyst at ORG
ORG's sales of pickup trucks, sport/utility vehicles and minivans -- the light truck category -- will be down significantly, in large part because the automaker is up against a tough comparison from DATE.
However, car sales will also plunge by PERCENT, estimates PERSON, of ORG. He attributes the decline largely to the continued aftershocks of ORG's labor strife DATE, which cost the automaker CARDINAL units of mostly car production.
""They're still being hurt by the strikes,"" he said. ""I think that's still a legitimate reason for DATE here in DATE.""
ORG is scheduled to report its sales on DATE. Also reporting DATE is ORG, whose sales will be flat or up slightly from DATE.
Light truck sales, which have been accounting for PERCENT of ORG's total, are projected to rise PERCENT, offsetting an expected PERCENT slide in passenger car sales, said GPE.
ORG, scheduled to release its results DATE, will enjoy CARDINAL of its best DATE comparisons since DATE, said ORG, with sales rising PERCENT against a somewhat weak performance in DATE.
ORG's car sales are forecast to dip PERCENT. DATE, ORG added another $MONEY to the $MONEY rebate it was already offering on the DATE PRODUCT, indicating its determination to hang on the title of the best-selling car in GPE. Taurus sales through DATE were CARDINAL units over the rival ORG PRODUCT.
""If PRODUCT sales spurt up, cars might be a little bit better than that,"" said ORG.
ORG's light truck sales are seen rising a sharp PERCENT, he said, thanks to the strength of its pickup trucks and popular ORG full-size sport/utility.
Imports and transplants continued to take market share from the Big Three in DATE, GPE said, climbing to a combined share of PERCENT, up from PERCENT in DATE.
""The strong dollar and the weak yen are resulting in aggressive pricing by the NORP makers, particuarly in intermediate and small passenger cars,"" he said.
For DATE, the light vehicle DATE adjusted DATE sales rate is expected to be in the CARDINAL range, analysts said, a precipitous drop from CARDINAL DATE, DATE.
However, ORG said ORG factors used to compute the rate penalize the total by CARDINAL units, meaning the real rate is stronger than it would appear.
Most analysts expect the industry to finish DATE at CARDINAL units.
""It should be CARDINAL,"" said ORG. ""That's almost certain unless something very strange happens in DATE.""
That total would bring the average for DATE to an unusually stable MONEY. In DATE, total light vehicle sales were CARDINAL, down from CARDINAL for all of DATE.","GPE's PERSON emerged on DATE as the only seed in the $MONEY NORP Indoor Open semifinals.
ORDINAL-ranked PERSON overcame ORDINAL seed PERSON 6-4 6-3.
But ORDINAL seed PERSON was edged out by GPE's PERSON 7-6 7-6 and ORDINAL seed PERSON lost to NORP Martin Damm CARDINAL-7 6-4 6-4.
NORP PERSON completed the final CARDINAL with his CARDINAL-1 CARDINAL-0 demolition of ORG team mate PERSON and now faces another ORG player in Damm. PERSON plays PERSON in DATE's other semifinal.
PERSON champion PERSON, ranked ORDINAL in the world, never looked comfortable against PERSON, the more aggressive of the CARDINAL for most of the match.
He failed to gain a single break point all match while the PERSON broke serve late in both sets.
PERSON's win avenged his loss to the NORP in GPE DATE, and he said he had taken notes from that match on to court on DATE.
""In GPE, PERSON was dictating the points -- serving very well and hitting forehands very well -- so today I tried to be very aggressive and, when I had an opportunity, move forward,"" said PERSON, ranked CARDINAL in the world.
Local favourite Damm, a finalist at EVENT DATE, spoiled PERSON's ORDINAL birthday. After losing the ORDINAL set the NORP scored crucial breaks in the ORDINAL game of the final CARDINAL sets.
For ORG, defeat was especially painful as he could have gained valuable ground on Ferreira in the race for the final spot at the ATP Tour championship in GPE at DATE.
The NORP currently sits CARDINAL points behind the NORP. A semifinal berth would have eaten CARDINAL points out of that lead while a place in the finals would have almost halved ORG's advantage.
Prinosil, ranked ORDINAL in the world, profited from a ORG double fault at CARDINAL-5 in the ORDINAL set tiebreak and took a CARDINAL-0 lead in the ORDINAL set tiebreak on the way to sealing victory.
ORG said: ""I realise I didn't help my cause at all but we've got CARDINAL of the biggest tournaments coming up and I think whoever does really well in those events should probably play themselves into a position at ORG.""
PERSON, Stich and Ferreira both appear DATE in GPE, where the winner gains CARDINAL Tour points, CARDINAL more than the winner here.
The NORP tournament's organisers said on DATE they expect PERSON will be fit to play, despite a wrist injury which forced him to retire here.
In a move to accommodate PERSON, his ORDINAL round match has been put back to DATE.",0
"ORG, which pleaded guilty to price fixing DATE, will face tough criticism at its DATE meeting DATE from shareholders seeking to make ORG's board more independent.
""There needs to be dramatic reform at this company, at...both the board and the management level,"" said PERSON, director of special programs at ORG.
The carpenters union is among CARDINAL institutional shareholders pressing for changes in ORG's board.  
Despite the settlement with ORG, including the payment of MONEY in fines, corporate governance issues remain at ORG, according to PERSON, GPE deputy controller for pensions.
""I think people are looking at this (the ORG settlement) as if it's the last scene in a CARDINAL-act play. It is not,"" PERSON said.
Going forward, PERSON said he is looking for ORG to, over time, enact steps to make its board more independent and to set a succession plan for the eventual retirement of Chairman PERSON, aged DATE.  
The chairman's son, Vice Chairman PERSON, is among CARDINAL executives still being investigated by ORG as the price-fixing probe continues. Also being investigated is ORG Vice President PERSON.
""PERSON is not young. A person they were grooming to be a successor is the target of an investigation,"" PERSON said, referring to PERSON, who had been seen in the past as a possible successor to the chairman's post.
A shareholder proposal calling for a more independent board at ORG is garnering a significant number of votes.  
ORG (CalPERS) said earlier a survey of votes cast thus far indicated that PERCENT are in favor of that measure.
CalPERS co-sponsored the proposal with ORG.
""Our primary focus is the proposal,"" PERSON, a spokesman for CalPERS, said. ""But i think we also need to see some increased oversight (of management by the board).""
Other proposals include a measure by the carpenters to hold directors personally liable for gross negligence. ORG proposed confidential voting for directors when there is no competing proxy.
At DATE DATE meeting, Chairman PERSON kept a lid on shareholder comments. When PERSON of the carpenters union tried to gain the floor, he was told by the chairman, ""This meeting runs according to my rules.""
PERSON, who will attend this DATE's DATE meeting, said he was hopeful shareholders would be able to voice their concerns DATE.
He added the company had sent him a fax outlining the agenda, when issues will be raised and how much time will be allotted for comments. ""There needs to be some basic rights allowed to the (share) owners,"" PERSON said.
ORG Chicago PERSON","ORG PRODUCT said on DATE that the selection of GPE new chief executive DATE could give further support to the territory's soaring ORG, which it expects to rise to CARDINAL points soon.
""Once the chief executive is chosen, the direction of economic policy after the handover will be clearer,"" the fund manager said in an NORP DATE outlook.
""Since it is clearly in GPE's interest that the handover should proceed smoothly, GPE will seek to ensure that it does nothing to adversely affect sentiment. Investors are increasingly coming to regard the handover as a positive rather than a negative.""
The NORP territory returns to NORP rule on DATE. The chief executive, who will govern GPE as a special administrative region of GPE following the transition, will be announced on DATE.
PERSON is maintaining a heavily overweight position on the GPE stock market, and investment director PERSON said she holds a DATE target of CARDINAL points for the ORG Index.
""GPE has done very well and we're still very bullish,"" she said. ""I think it will continue to do well for some time because money will flow into GPE as the preferred market (in LOC) and will stay here for some time.""
PERSON said GPE will benefit from the credit easing in GPE, which will offset any interest rate hike in GPE DATE or next, with additional support from subdued inflation and a strong property market.
Guinness Flight is also overweight in GPE, where it expects company profits to recover strongly as the effects of the austerity programme ease.
""It's time to take a look at GPE,"" PERSON said. ""We are at the start of a cyclical uptrend.""
She forecasts NORP economic growth of PERCENT DATE, rising to PERCENT DATE, in a context of a carefully controlled credit easing that will be channelled into selective sectors and industries.
While exports are expected to recover from this DATE's weakness, GPE's economy will also benefit from an increase in investment and consumption, she said.
""The last cycle of growth was led by exports but in this cycle we believe it will be very much more broadly based,"" PERSON said, who favours power, automobiles and consumer products as GPE's most promising sectors in the short term.
ORG is her top power stock, thanks to an aggressive capacity expansion, while ORG leads the automobile pack.
Qingling stock is trading in single digit multiples, despite a PERCENT share of GPE's expanding car market that is expected to rise to PERCENT DATE.
Earnings at ORG, an integrated food distributor poised to exploit a boom in NORP supermarket consumption, could rise PERCENT DATE for DATE, PERSON said.
Goldlion Holdings Ltd remains PERSON favoured retail stock, reporting an annual net profit growth of PERCENT DATE for DATE.
""This is an excellent track record and proof of the quality of management at the company,"" PERSON said.",0
"ORG (ORG), responsible for overseeing financial regulation in GPE, has clamped down on the use of stockmarket derivatives to profit from inside information.
ORG said on DATE that firms should ensure they do not use derivatives to buy or sell stakes for themselves or customers where inside information would have prevented them from doing so in the open market.
Front-line regulators such as ORG are to have day-to-day responsibility for enforcing the guidance, designed to ban the improper use of inside information in the derivatives market.
Derivatives such as futures or options, are financial instruments derived from the value of an underlying asset such as a stock or a bond.
The DATE EVENT which made insider dealing a criminal offence only covers individuals, but firms are expected to observe the spirit, as well as the letter, of the new advice, said ORG.
It also said that firms should not rely on arguments about equality of information' -- that the information is widely known -- to justify such stakes, even where this defence could be relied on in relation to the criminal law.
Neither should they rely on the defence, called bid facilitation', if taking a stake provides only a cash benefit rather than a step towards completing a takeover bid for a client.
The ORG said its advice was based partly on the standards set in the criminal law on insider dealing, and that authorised firms are required under ORG principles to meet a higher standard in some areas than may be imposed on individuals by the criminal law.
The ORG published a consultative paper on the issue in DATE.
-- GPE PRODUCT +44 CARDINAL 7721","ORG industries said on DATE it was interested in expanding its NORP life insurance activities through acquisition but had been put off bidding for mutual insurer ORG by the price.
B.A.T. Chief Executive PERSON made the comments as the group, which also has extensive tobacco interests, reported a PERCENT fall in trading profits at its financial services arm.
Those figures included QUANTITY (MONEY) charge for GPE environmental claims dating back to DATE.
""We've said in the past that the portfolio of brands in our ORG unit would benefit from filling out in the life broker business,"" said PERSON.
""Too many people were looking at ORG, I think it would have turned out to be too high a price.""
Scottish Amicable effectively put itself up for sale in DATE and is considering bids from ORG, ORG and ORG.
Broughton's remarks mirrored comments made at DATE stage that the group wanted to build its presence in the independent financial advice sector which accounts for CARDINAL of all NORP life insurance and pension business.
But ORG chairman Lord PERSON refused to comment on speculation that the group had approached ORG as a possible partner.
He did say the company remained open-minded about its future structure, leaving the door open to a possible demerger.
ORG owns insurance groups ORG and PERSON in GPE and ORG in the GPE
""We are not wedded to a particular structure... We have an open mind,"" said PERSON.
The unexpected provisioning in the DATE figures came after a change in the way the group quantified possible environmental claims.
In the past these had been assessed on estimates based on claims experience.
DATE's provision followed a study by consultants ORG which looked at individual sites in the GPE to calculate ORG's possible exposure.
Given all the available information, the company said DATE's move would signal an end to such provisioning.
""They do now look fairly well reserved compared with the industry average,"" CARDINAL analyst said.
In GPE, many companies have moved across to the more prudent way of reserving now used by ORGEchoing comments from competitors, PERSON said the general insurance trading environment remained difficult in DATE. The company had seen a slight pickup in motor rates but commercial lines remained very competitive, he said.
Excluding the environmental charge, general insurance profits were up PERCENT at MONEY while life and investment businesses were up PERCENT at MONEY.
Total premium income rose PERCENT to MONEY.
Analysts said the results and comments on the state of the markets were broadly as expected.
Allied Dunbar trading profits rose PERCENT to MONEY over DATE, though the comparison was flattered by a DATE provision for costs associated with the ORGamp; ORG pensions review.
PERSON profits fell MONEY to 85 million pounds with competitive markets and the shedding of unprofitable businesses leading to a PERCENT fall in premium income.
Premium income in ORG life business was PERCENT higher at MONEY.
Profits at ORG's NORP insurance business ORG rose PERCENT to MONEY. Profits at the general insurance management business rose PERCENT to MONEY and in the life business three percent to MONEY. ($ = 0.620 British Pounds)",1
"The government's surprise decision to block proposed bids for LOC on DATE seems to make mergers between water firms taboo but keeps open the door to the creation of more multi-utilities, analysts said.
""It is surprising...(now) the idea of multi-utilities is gaining ground, it does look as if that is the platform from which companies can grow,"" said ORG.
ORG (DTI) head PERSON said in a statement he had decided not to permit planned bids by ORG and Wessex Water for South West because they would be against the public interest.
PERSON, head of industry watchdog GPE, told ORG such mergers were ""not in my view the best way to get efficiency for customers.""
He added takeovers from outside the water industry ""do not damage competition and my use of (yardsticks) in the same way.""
Wessex Water said on DATE it wanted to bid for LOC, prompting ORG to enter the arena on DATE but both companies declined to name a price until the ORG, which automatically considers such mergers, announced its decision.
Analysts had suggested such bids might value LOC at over 950 million pounds (MONEY) or MONEY per share.
The CARDINAL bids were the ORDINAL by NORP water companies for CARDINAL of their colleagues, although GPE's ORG bought ORG DATE after promising PERCENT price cuts to DATE.
ORG took over regional electricity company (REC) Norweb to create ORG in DATE while Hyder was formed when ORG bought ORG (Swalec).
The ORG's block shook the market, which had been expecting approval conditional on price cuts, possibly PERCENT.
Ofwat said it had recommended price cuts of PERCENT from ORG if its bid were to be approved but had advised that it saw no remedy which would make ORG bid acceptable.
South West Water's shares plunged to touch a low of MONEY before recovering slightly to be down MONEY at MONEY by DATE ORG.
Severn Trent shares peaked at MONEY but then eased back to be up MONEY at MONEY while ORG added MONEY to MONEY, off a high of MONEY.
Relieved of the bid pressure, GPE bowed to promptings from GPE and said it would pay customers a QUANTITY rebate in DATE while promising to hike its interim dividend PERCENT to MONEY as sector results begin to flow DATE.
The company, whose area covers large stretches of coastline requiring hefty investment to meet environmental standards, has the highest customer bills in the country.
Wessex said it was ""disappointed"" that it could not go ahead with a bid, saying it felt a merger would have created ""significant benefits for both customers and investors.""
The utility, which abuts the area of LOC in western GPE, said it remained committed to strategic goals of delivering quality service and enhanced shareholder value.
Analysts said ORG might now buyback shares or make a special dividend, despite recent tax changes adverse to these.
Severn Trent said it had expected to offer savings of MONEY a year to households from the proposed merger, adding that now it would concentrate on sharing benefits of improved operational performance with shareholders and customers.
PERSON, meanwhile, might switch attention to the possibility of a merger with another utility, analysts said.
""Now the government has blocked PERSON from bidding for LOC, ORG might take a look,"" said PERSON of GPE.
The regional electricity company was confounded in its attempts to take over LOC DATE, losing out to generator and distributor PERSON. ($MONEY Pound)","NORP oil and gas companies are being snapped up by foreign companies with an eye for undervalued stocks, but analysts said the sector faces a bright future with higher oil prices and a deregulated gas market.
During DATE, there has been MONEY worth of takeovers announced in GPE's shrinking oil and gas sector and another MONEY worth of asset sales as some non-oil and gas players quit the local oil and gas market.  
Analysts said local oil groups with low share prices and overseas assets have struck the eye of hungry foreign companies.
""Overseas people appreciate the value of oil and gas assets, particularly in southeast LOC, but I don't think the market is fully valuing these assets through the share prices,"" Timothy Savage, an oil and gas analyst at PERSON, told ORG.
ORG MONEY tilt for ORG in DATE was the largest bid made DATE in the sector. NORP oil producers are also keen on local oil firms.  
PRODUCT was taken over DATE by ORG, while in DATE Premier PERSON has made a bid for ORG and ORG has made a offer for ORG
ORG oil and gas analyst PERSON said most of the NORP oil groups that have attracted predator attention have been producers with oil assets offshore.
""It is no coincidence at all that the companies that have disappeared have been always companies that have endeavoured to build an overseas presence, and they have all without exception been taken over,"" PERSON told ORG.  
Analysts said the rise in the oil price DATE had not been a reason for the corporate activity. ORG oil futures prices have risen PERCENT over DATE to current levels of MONEY a barrel.
""Takeovers have been a feature of this sector for DATE and it doesn't seem to matter if the oil price is up or down,"" PERSON said.
PERSON said oil companies making the bids have a double positive effect from the oil price rise with increased cash flow and a boost in share prices making it easier for companies to raise equity and debt.
Analysts said rationalisation might continue in the sector for some time, but most of the short-term activity had occured.
""I think it is possibly going to clam down now,"" CARDINAL GPE-based oil analyst said.
Analysts said remaining potential targets in the oil and gas sector were ORG and Petroz NL, which have assets in the prospective LOC area.
Woodside Petroleum Ltd and Santos Ltd were unlikely bid targets, analysts said. Woodside, which accounts for PERCENT of the MONEY sector, is controlled by oil giant ORG.
Santos is seen to have a restrictive share ownership structure making it difficult for takeovers, analysts said.
GPE has also been keen on purchases, buying MONEY worth of oil assets DATE from groups quitting the sector.
Analysts said the takeover activity has raised the focus on the sector, particularly in gas exploration and development.
They said reforms in the local gas industry has opened up opportunities for gas supplies to major mines in remote areas and the set up of co-generation projects around the country.
""There is a lot of money coming over here and finding their way into all sorts of corners of the industry. So it looks like it is going to be a fairly buoyant period again, irrespective of whether we have further takeovers ahead,"" PERSON said.
GPE's oil and gas index hit a record high of CARDINAL on DATE, but fell slightly to close at CARDINAL on DATE.
-- ORG newsroom CARDINAL-2 9373 1800",0
"For DATE GPE's biggest leather factory gushed pollution into one of the world's cleanest rivers and haemorrhaged losses.
But help was at hand when GPE's scenic beauty and devout NORP people enchanted visiting NORP Chancellor PERSON in DATE.
NORP aid has since poured in, along with NORP technicians, transforming the plant into a rare model of environmental awareness on the roof of the world. It has also made its ORDINAL net profit.
Manager PERSON glowed with pride as he described the modernisation wrought at his plant over DATE.
""When I ORDINAL came here in DATE things were really backward. We lived in tents. Can you imagine?"" he said in an interview with ORG.
The leather factory was moved to ORG in DATE from Golmud in neighbouring GPE province to provide footleather for CARDINAL of soldiers sent to garrison GPE after an abortive uprising by NORP seeking independence in DATE.
As a state-owned firm that processes yak skins into shoes and handbags it had little incentive to turn a profit. That is slowly changing.
DATE, the GPE-Germany Joint Venture Lhasa Leather Factory of GPE reported a profit of MONEY ($MONEY) -- a modest sum but the ORDINAL in its history.
""We have a good future, our efficiency is good...and with NORP assistance we are placing great emphasis on environmental protection,"" said PERSON, adding that he expected another profit DATE.
""The NORP side is very strict, especially on environmental protection,"" he noted. ""But we get along with them very well.""
CARDINAL problem identified by the NORP side is CARDINAL common to most of GPE's state-owned firms -- the huge surplus labour that is the legacy of jobs-for-life socialism.
""We have had arguments with the NORP experts who want to fire someone, for example,"" said PERSON. ""But they have come to understand our point of view and our system.""
However, NORP officials still warn that keeping on a couple of CARDINAL extra staff is bound to affect profits.
NORP officials said the plant had been an environmental disaster when they arrived, with its tannery spouting stinking waste into the nearby rushing GPE river.
""It was in really bad shape with terrible environmental problems,"" said PERSON, director of the office of ORG in GPE that oversees aid to the plant.
""Before, the water was untreated and flowed into the river causing many problems,"" he said. ""But things have been very nicely done. There is no pollution.""
All chemicals are recycled now and a NORP-manufactured system cleans the water, separating waste that is dried for use by local farmers as fertiliser.
""The water that flows into the river is absolutely clean,"" said PERSON, who visited the plant last May.
A cement factory on the opposite bank belching dust into the clear mountain area could pose a new environmental hazard.
GPE has given CARDINAL deutschemarks (MONEY) in aid to the plant, which has been allowed to register as a joint venture and thus qualifies for the generous tax breaks and holidays that GPE offers to foreign investors.
NORP money has helped to buy the latest in leather processing machinery as well as sewing machines, waste elimination plants and even new solar energy panels that are heating water for the factory.
Sales have soared. The factory held an PERCENT share of the GPE shoe market for DATE, but in DATE that jumped to PERCENT and nearly doubled again in DATE to a PERCENT market share.
""Our products are really popular because they are all leather, and people want that kind of quality,"" PERSON said.
The factory is trying to boost sales to the rest of GPE as well as overseas exports, particularly to neighbouring GPE.
But it faces awesome transport handicaps in shipping goods from a city that has no rail links and must send merchandise CARDINAL km (QUANTITY) over some of GPE's most difficult roads to the nearest railway station.
""We still need to raise quality and produce more different styles of shoes to compete in the market,"" said PERSON, who has clearly picked up some tips from his NORP market-savvy experts.
""Either you learn to swim in the market or you drown.""","GPE on DATE hailed a brief visit by Premier PERSON to GPE as TIME packed with political and business achievements and trumpeted the growth of a power centre to offset the influence of GPE.
Diplomats said the rapid warming of ties between GPE and GPE was unlikely to signal a major strategic alliance or a return to the close political and military alliance that existed between GPE and GPE in DATE.
GPE's effusive rhetoric to describe PERSON's GPE trip was meant as a gesture to the LOC that GPE could turn to friends other than GPE, diplomats said.
It did not appear to signal a major new power axis between the former bitter rivals for leadership of the communist world, they said.
""The visit... was brief indeed. However, it scored fruitful achievements and had great significance,"" ORG, mouthpiece of ORG, said in a front-page editorial.
""It is bitingly cold in GPE in DATE, but PERSON and his entourage felt the warmth of the NORP leaders and people everywhere,"" ORG purred.
The achievements of PERSON's TIME visit included an agreement for the prime ministers to meet twice a year to monitor progress on building trade and diplomatic relations and a decision that NORP President PERSON visit GPE in DATE for talks to set the seal on a new level of relations.
The CARDINAL sides also signed several deals including the supply of NORP Sukhoi Su-27 warplanes and building a nuclear power plant in GPE's eastern GPE.
Officials gave no details of the fighter deal, but sources said it involved sale of a complete production line to be built in northeast GPE. The deal was held up by financing problems and complications from the break-up of GPE that left Su-27 engine manufacturing lines in GPE, they said.
However, the NORP commentary focused on the political significance of the visit, and a joint communique on strategic cooperation into DATE, as important signs of the global importance of the NORP partnership.
""The world is moving towards multi-polarisation,"" ORG said.
""Both GPE and GPE well deserve to be CARDINAL important and independent poles in the multi-polar world. The establishment and development of strategic partnership between GPE and GPE is conducive to the multi-polarisation of the world,"" it said.
""Leaders of both countries made it clear that they do not favour a world dominated by one power,"" it said, in a scarcely veiled reference to GPE.
GPE's desire to develop close links with GPE has followed ORG's plans to expand eastwards by admitting GPE's EVENT allies in LOC as members of the alliance.
PERSON, whose meeting with PERSON was the NORP president's ORDINAL with a foreign leader since returning to work after a heart bypass operation on DATE, stressed that GPE saw the partnership as long-term and not as expediency.
The strategic partnership was directed at no other parties, ORG stressed.
""May NORP friendship be passed on from generation to generation,"" it said.
GPE and GPE, once bitter rivals for leadership of the communist world, have been building steadily warmer and closer ties since NORP communism began to unravel DATE.
For GPE, democracy has been accompanied by poverty and GPE sees GPE as a huge market for its struggling industry.",1
"The world's biggest mining house, ORG, is set to report a sharp fall in DATE profit DATE after shouldering a slide in metal prices during DATE and battling problems with its GPE copper smelter, mining analysts said.
The group, which has operations spanning the globe, is on average expected to post a PERCENT fall in net profit before exceptional items to MONEY for calendar DATE, a ORG survey of CARDINAL NORP brokerages revealed.
RTZ-CRA, a dual-listed merger of NORP-based ORG and NORP-based ORG, is due to announce its earnings on DATE. It made MONEY in DATE.
NORP analysts' forecasts range MONEY, although private forecasting service ORG quoted much lower numbers in a survey DATE.
The culprits behind ORG-ORG's profit slump are seen as the copper price, which dipped below MONEY a pound after the ORG trading scandal erupted in DATE, a weak aluminium price and problems with the flagship GPE copper smelter.
Together, copper and aluminium earned PERCENT of ORG-ORG's total revenue in DATE, and metal prices were promising enough DATE for the group to talk of higher earnings.
But metal prices caught a cold and the prospects of improved profits also began to look sick DATE, when the ORG trading scandal sent international copper prices crashing.
PERSON, a star trader who once dominated the copper market, has admitted charges of fraud and forgery and accepted blame for a scandal that cost ORG MONEY and devalued the copper inventories of metals companies around the world.
""Everything peaked ahead of this GPE copper thing,"" said PERSON of ORG.
""Most commodities slid from DATE on through to about September, DATE and there's been a bit of recovery in most metal prices since that time.""
RTZ-CRA's iron ore business was also a disappointment, CARDINAL analyst said, noting that sales for DATE dropped PERCENT despite a lift in annual output.
Adding salt to the wound, the gold price also languished. Gold is a sensitive area for the mining giant, since it is fundamentally opposed to selling its production forward at a fixed price to lock in revenue.
RTZ-ORG's coal mines are also not expected to have relieved some of the pain inflicted on the group by weak prices. CARDINAL analyst expects coal earnings to fall PERCENT in DATE.
RTZ-ORG's troubled GPE smelter in GPE has stirred the deepest concerns among analysts, who have been waiting for the new plant to get it right after DATE of hobbled operation. The smelter is still not operating at full capacity and soon faces a DATE shut-down soon for major modifications.
Copper division earnings are forecast to plunge by PERCENT, according to ORG forecast.
Still, the brokerage likes the group's long-term prospects, which include a copper mine in GPE and a copper and gold mine in GPE.
""They have a very, very strong organic growth profile,"" said ORG analyst PERSON. ""They have very substantial expansions coming up,"" he added.","Investor PERSON resumed his campaign to break up ORG DATE by moninating a slate of directors he wants to replace the existing board members.
Icahn, who holds a PERCENT stake in ORG, named his intended nominees to ORG's board in a filing with ORG.
In a letter to ORG Chairman PERSON that was attached to the ORG filing, NORP reiterated his request that ORG spin off its ORG unit immediately.
Icahn, who began a campaign to split up ORG DATE, said in his letter that the company's stock price had lost PERCENT recently while the company has lost market share to rival ORG. Inc.
ORG said in response to NORP that the slate of directors he submitted was weaker than the one assembled DATE by NORP and fellow investor PERSON, who had teamed up for a while in an effort to separate ORG's tobacco operations from its food businesses.
""Mr. PERSON's slate appears for the most part to be a group of lawyers, consultants and retired people with records that will not withstand scrutiny,"" ORG said in a statement.
ORG, which owns PERCENT of ORG, repeated that it favored a spin-off of the food unit but said this is not the right time to split up the company.
""We plan to do it when a spinoff will not endanger the company,"" ORG said. ""But an attempt to spin off ORG in the current political and legal environment could do serious damage to the company, the tobacco industry and our shareholders,"" it added.
Icahn said in his letter that his proposed slate of directors will be headed by PERSON, former chief executive officer of ORG and former chairman of PERSON
""The management hasn't demonstrated that they're doing anything better than they were doing DATE, so why not try again?"" PERSON said in a telephone interview.
ORG said the nominated directors intend to pursue a global settlement of tobacco litigation claims. He was not specific about those plans, but said any global settlement must be an industrywide effort.
""It's in the interest of everybody that some sort of global settlement be undertaken to permit these companies to get on with their corporate existence and do what they should be doing,"" PERSON said.
In the letter to ORG also said that the board nominees would raise the company's DATE dividend to $MONEY per share and maintain that rate after the spin-off of ORG.
ORG raised its DATE dividend DATE to $MONEY per share from $MONEY.
According to a filing with ORG, ORG was hired by NORP as a consultant on DATE for MONEY.
NORP and ORG failed DATE in a similar attempt to force a spin-off of the tobacco unit.
NORP and LeBow split up after their defeat DATE, although both said they would continue to individually press for an immediate spinoff.
Shares of ORG closed up MONEY at $MONEY on ORG.",0
"NORP bank Barclays DATE sold its global custody business to investment bank ORG for an undisclosed sum thought to be MONEY (MONEY).
The purchase by ORG marks another step in the consolidation of custody business, which is increasingly being seen as a banking activity where ""big is beautiful.""
The custody business includes traditional safekeeping of securities, increasingly electronically, performance measurement and stock lending.
""Barclays believes global custody has become very much a ... business requiring substantial investment in technology,"" said Chief Executive PERSON.
A Barclays spokeswoman said the investment in technology would be considerable and that PERSON had decided this would not be an effective investment.
Sir PERSON, chairman of ORG, said, ""This transaction enables us to offer a broader range of products to our clients. It will strengthen ORG global franchise, particularly in LOC, and will increase our fee-based revenues.""
ORG said the combined custody assets of the CARDINAL business would amount to MONEY, taking it up the global custody ladder dominated by large NORP players.
The list is headed by ORG, which has MONEY in assets in custody, followed by ORG, ORG, ORG, the largest NORP player, and ORG.
Barclays had GPE's largest custody business, followed by ORG and ORG.
Barclays Global Custody employs some CARDINAL staff members worldwide, of which only those in sales, relationship management, marketing and client support will be moving to ORG -- considerably CARDINAL of the total.
Barclays employee union ORG said CARDINAL of the staff would transfer with the business.
Analysts said ORG was thought to have paid MONEY (MONEY) for the business, but the banks said a final price would not be fixed for some time. The deal is expected to be closed at the beginnning of DATE.","The flotation price of ORG is expected to materialise at the high end of an estimate prepared by the ORG's bankers DATE, banking analysts said on DATE.
ORG, the ORG's investment banking advisers, set a price range for the DATE float of CARDINAL and MONEY which would produce a market capitalisation of MONEY.
""The valuation of MONEY (stg) is right in line with our expectations,"" said PERSON, banking analyst at ORG.
Other analysts were in agreement but some expect the price on DATE to be higher, saying that DATE's figures look a little conservative.
""Based on a DATE earnings per share figure of CARDINAL or MONEY, a share price of MONEY or even MONEY would seem to fit,"" said PERSON, banking analyst at ORG.
Analysts tend to use a comparison with ORG to do their calculations.
PERSON is the only building society to have converted so far, it became a bank in DATE, and still makes PERCENT of its money from its core mortgage and deposit activity, according to PERSON, building societies analyst at ORG.
The ORG makes PERCENT of its income from its core activities and looks set to expand vigorously into other areas like life and general insurance, long-term savings and funds management.
""There's a good possibility that the ORG will be rated higher than the GPE when it comes to the market but the other societies will probably be lower,"" PERSON said.
The Woolwich, ORGamp; FAC will join the ORG in floating DATE.
PERSON added that the prospective flotation levels of the societies will fluctuate broadly in line with movements in the GPE's share price DATE.
""Using the Abbey as a pointer is fine because banking sector valuations are pretty close together at CARDINAL times earnings, except for ORG TSB,"" said PERSON, analyst at ORG. ""But there's nothing clever or scientific about it.""
Analysts agreed that CARDINAL cloud on the horizon for potential shareholders may be the possibility of higher interest rates in GPE, especially after the general election which must be held by DATE.
Currently, sterling strength is seen by some economists as keeping a lid on inflationary pressures and consequently rates, but there is a feeling that rates will have to rise.
But analysts say a rise of CARDINAL basis points or more would be needed to seriously dent the banking sector and damage the DATE's flotations.
-- GPE PRODUCT +44 CARDINAL 8864",1
"Casualties are starting to mount as NORP buyers of soybeans and soybean meal default or cancel contracts in the wake of falling international prices, NORP trading sources said on DATE.
""We have stopped doing NORP business for now,"" said a trader in GPE with a major international house.
""We're waiting for the market to stabilise and are staying away from the possibility of defaults,"" he said.
Traders in GPE, GPE and GPE reported hearing of NORP soymeal buyers delaying finance arrangements for orders in an attempt to force sellers to lower their prices.
Another GPE source reported that NORP buyers had defaulted on CARDINAL cargoes, each of QUANTITY, since DATE when international prices began to fall.
""They are defaulting because GPE buyers delayed opening LCs (letters of credit) in the hope of squeezing another two or three dollars from their sellers,"" he said.
Traders have said these tactics are next to useless as physical soymeal for prompt delivery is tight, and would command a premium that would wipe out any extra profit.
Since entering the international trading arena DATE, NORP traders have earned themselves a reputation for dubious practices when it comes to paying for their orders.
In some cases, traders have reported, a NORP buyer will default on or cancel an order for a commodity if the price falls after the order is placed and before it is delivered.
The NORP company will then attempt to replace the commodity at the cheaper rate.
As a result, when prices of a commodity that is a hot item in GPE begin to fall, some international traders simply exit the market.
Others insist on deposits, and others grade NORP traders according to their record of paying up and charge higher premiums accordingly.
Soybean meal has been the hot NORP commodity of DATE, traders said, with arrivals from LOC QUANTITY since DATE.
Traders said maximum NORP orders of GPE meal in DATE were QUANTITY.
CARDINAL trader claiming to have done QUANTITY of beans and meal business in DATE said he had letters of credit from his buyers for QUANTITY.
His sales would show up in ORG figures DATE, he said.
The price of soybean meal on ORG (CBOT) has been on a rollercoaster ride since DATE, and initially dipped while GPE was on holiday from DATE celebrating EVENT.
On DATE, NORP buyers scooped up QUANTITY of beans and meal, mostly of GPE origin, some NORP, paying MONEY a tonne, traders said.
But DATE, prices started to fall again, by DATE coming off MONEY or so a tonne -- and word of NORP cancellations and defaults began to circle.
Reports from GPE on DATE described the market as perplexed over rumours GPE had bought or cancelled export orders for GPE and NORP soybeans and soymeal.
CBOT DATE soymeal closed at $MONEY a tonne, after DATE's $MONEY.","NORP and NORP sales of malting barley to GPE could be limited by weather woes and disease concerns, which are cutting the amount of quality grain available for export DATE, industry sources said on DATE.
GPE was hit by early snow that damaged the barley crop and would keep sales to GPE of the higher quality malting variety QUANTITY, a NORP marketing source said.
GPE had already sold QUANTITY of malting barley to GPE in DATE (DATE), he told ORG.
""We won't do QUANTITY (to GPE),"" he said. ""We will be lucky if we hit CARDINAL. It's a very tight market.""
That tightness could work to GPE's advantage, but farmers there had shown a preference DATE for disease-resistant strains of feed barley, PERSON, deputy general manager of ORG (ORG), said.
Frost in GPE and South Australia could cut the board's availability of malting barley by QUANTITY from earlier expectations of CARDINAL from the CARDINAL southern states, PERSON said by telephone from his Adelaide office.
The ORG, which markets NORP and NORP barley, could thus have QUANTITY of malting barley to sell domestically and the same again for export.
""We would hope CARDINAL to QUANTITY will go to GPE,"" PERSON said.
Official NORP figures show total barley imports from DATE were QUANTITY, and QUANTITY in DATE alone. No comparative figures were available.
GPE's total crop would be in the range of QUANTITY, PERSON said, up from DATE CARDINAL and possibly the best ever.
The harvest should begin in DATE, he said, and exports could start moving in DATE.
GPE's shipments of DATE malting barley to GPE last marketing year were QUANTITY, selling at around US$240 a tonne, the marketing source in GPE said.
He said NORP wheat began DATE to GPE at MONEY a tonne C&F GPE, after ORG (CWB) and ORG, Oils and ORG (COFCO) agreed on the price.
""The ORG is trying to compete because the NORP have such a large crop,"" he said.
The ORG's PERSON said NORP malting barley was MONEY ORG NORP ports, arriving C&F GPE at MONEY a tonne.
Earlier sales went for MONEY a tonne ORG, he said, adding that GPE's earlier ORG prices were around $MONEY.
GPE's beer market is one of the most dynamic in the world, with DATE growth of PERCENT for total output of QUANTITY, according to official figures.
GPE produced QUANTITY of beer in DATE, up PERCENT on DATE, ORG figures show.
GPE grows QUANTITY of barley DATE but little of malting quality.
GPE's exports of malting barley to GPE have averaged QUANTITY a year in DATE.
GPE and ORG share much of the remainder of the market, though GPE was out of the trading loop in DATE because drought cut barley output to QUANTITY.
-- GPE (CARDINAL) 2843 6470",1
"ORG has been silent since it said DATE that it formed a partnership with the son of the NORP ruler PERSON, a move that has worried shareholders and prompted regulators to seek more information.
Despite a whirl of rumours and persistent questions that have sent the NORP mining company's shares on a roller-coaster ride, ORG has maintained a dogged silence.
The GPE-based company that controls one of the world's biggest gold prospects in GPE has not talked to the press for DATE. Company officials will take calls only from a handful of favoured analysts, according to market sources.
""I haven't had any calls returned,"" said gold analyst PERSON with PERSON in GPE. ""There seems to be a certain number of people they talk to. Everybody's a bit in the dark.""
Bre-X on DATE announced its alliance with PERSON's son, PERSON, whose business influence is pervasive in GPE.
Since then, instead of directly addressing questions about its business in GPE -- many of which are playing havoc with the stock price -- ORG has opted instead to leak to the market carefully selected press material.
On DATE, for example, the company faxed the media, analysts and shareholders a copy of a story from ORG detailing its links with ORG.
The article referred to ORG's possible ties with the NORP army, stated that one of ORG NORP partners has been bought out and asserted that gold giant ORG tried to push ORG into a bad deal.
Despite questions about the article, ORG refused to respond and still has not said whether it endorses the story or puts any faith in the statements.
""I've certainly suggested a few times that they talk to the media and clear things up,"" said PERSON, manager of surveillance for ORG. ""It would be advantageous to the marketplace.""
Rumours have shrouded PERSON since the NORP government said DATE it would not issue essential contracts for work on the project until ORG cleared up an ownership dispute with some of its NORP partners.
The dispute has put a cloud over PERSON search to find a major mining partner to help it develop the rich Busang gold deposit in GPE, but the alliance with PERSON's son was expected to help the company clear up its problems.
""They're optimistic that they can get everything within DATE,"" said gold analyst PERSON of ORG, who said he spoke with ORG on DATE.
But he said PERSON would not comment on the article it distributed. ""They just sent it out for general interest purposes.""
Still, statements in the article and other gossip were taking its toll on shares linked to ORG and other exploration companies in LOC have complained the uncertainty has hurt their stocks.
ORG, a NORP mining company that has an interest in the Busang deposit through an alliance with ORG NORP partner, PT PERSON, has found itself on the defensive.
Talk about PERSON being bought out is unfounded, ORG President PERSON said in an interview. ""They have no intention to sell out,"" he said.
Minorca's chairman is in GPE DATE meeting with ORG officials and verified the company's intentions, PERSON said.
Horst said he had a slew of unanswered questions about PERSON arrangements with PERSON's son too. ""To be frank, the relationship between ORG and ORG is relatively cool.""","Rested negotiators for ORG and ORG met again DATE to make another push for agreement on a new national labour contract before a DATE meeting of ORG leaders.
The bargainers went home without a deal DATE TIME after meeting for TIME, although some officials said the talks were grinding toward a settlement.
The negotiating session on DATE and DATE was the longest since talks began between the automaker and union in DATE. Bargainers typically meet for long periods just prior to a tentative agreement.
""They're working on trying to resolve the final issues,"" ORG spokesman PERSON said DATE.
Talks ""have snagged several times in DATE,"" said PERSON, a professor of labour relations at ORG. ""The pressure's been increased considerably by the CARDINAL plants that are out on strike.""
The toll from local strikes in GPE, GPE, and GPE continued to mount as more plants shut down because of parts shortages.
ORG's compact sport/utility plant in GPE, GPE, halted operations TIME TIME, idling CARDINAL workers.
CARDINAL other ORG truck plants were expected to run out of doors, fenders and hoods made at the GPE plant in DATE. They include plants in GPE and GPE, GPE; GPE, GPE; GPE, GPE, GPE, GPE, and GPE, GPE.
Some states may determine that the laid-off workers will not be eligible for state unemployment benefits because they were idled by a strike.
The strikes on DATE by CARDINAL workers at GPE and CARDINAL workers in GPE, GPE, have formed a CARDINAL-pronged effort to squeeze ORG's highly profitable light truck operations, increasing pressure for national and local settlements.
Meanwhile, other ORG locals sought to join the GPE and GPE walkouts. ORG's GPE, GPE, electronics plant requested permission to send CARDINAL workers out on strike.
A walkout at that facility would be particularly damaging to ORG because it supplies all of the automaker's NORP assembly plants with engine electronics, audio systems and other parts.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive remained a major sticking point in the negotiations. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs.",0
"A GPE court on DATE sentenced dissident and former student leader PERSON to DATE in prison, the latest hammer-blow struck by GPE against its tiny band of pro-democracy activists.
EVENT took TIME to convict PERSON of plotting to subvert the government, but the young dissident's family quickly denounced the verdict and vowed to appeal.
""We are angry... He received such a heavy sentence even though he was innocent,"" PERSON's father, PERSON, said in a telephone interview after a brief meeting with his son at a GPE detention centre.
""PERSON said he wants to appeal,"" he said. ""PERSON feels everything that he has done has been above-board... it was all for GPE's democratisation.""
Wang, DATE, was sentenced to DATE in prison and deprived of his political rights for a further DATE, the ORG said in a long report hailing the fairness of the trial.
""Sufficient evidence, which includes written materials, witness accounts, recorded tape and criminal technical appraisal, were shown at the court,"" the official agency quoted the trial's chief judge as saying.
""The evidence is conclusive,"" it quoted the verdict as saying. ""(ORG) instigated people by saying that 'It is time we turn our words into actions'.""
PERSON, who vanished into detention in DATE, had faced a maximum penalty of death and a minimum DATE prison term.
One of the student leaders of the DATE pro-democracy protests in GPE that were crushed by the army, ORG had been one of the few members of GPE's dwindling band of dissidents not in exile or serving a long term in detention or prison.
A spate of arrests and detentions in DATE has left the pro-democracy movement reeling, analysts say.
ORG's conviction was a slap in the face for NORP governments that have appealed to GPE to improve its human rights record, diplomats in the NORP capital said.
GPE-based rights group Human Rights in GPE denounced the verdict as the result of a show trial that blatantly violated NORP law and international standards.
Scores of police enforced tight security around the court building in western GPE, keeping foreign journalists well away from a trial billed by officials as open to the public.
CARDINAL observers had been allowed in the court, said ORG's father, who was allowed to attend along with the dissident's older sister.
""Not one witness was summoned,"" he said. ""The judge did not uphold the justice and dignity of the law... How can writing articles constitute a crime?""
The family would have DATE to appeal upon receiving official notification of the verdict in DATE time, he said, adding they were not optimistic the verdict would be overturned.
The DATE sentence had been no surprise to the family or to ORG, who had been in good spirits during their TIME meeting after the trial, said his mother, a DATE museum researcher who attended as CARDINAL of CARDINAL defence lawyers.
PERSON, who once promoted free debate in the campus of the elite ORG, has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in the DATE FAC demonstrations.
He returned to political activism after his parole in DATE, defying police surveillance to join a daring appeal to GPE's communist leadership for the release of those still jailed for their part in the DATE protests.
ORG's father said his son's health had deteriorated during DATE in detention, but added the former student activist believed he had done nothing to be ashamed of.
""He has a clear conscience,"" he said.","GPE coffee industry faces more PRODUCT market reforms and fresh uncertainties over its returns in DATE, exporters and analysts said.
""The PRODUCT has a battle on its hands to keep farmers interested while meeting obligations to liberalise the sector to meet (ORG) loan conditions,"" said CARDINAL analyst. ""There could be a lot of changes in store and not all of them welcome.""
GPE slashed its reference farmgate price to CARDINAL CFA per kilo from CARDINAL CFA and opened its CARDINAL marketing season late on DATE.
Prices were set high in 1995/96 to encourage rehabilitation of plantations, but world prices slid to levels well below prices guaranteed by the PRODUCT.
ORG fears a repeat in DATE. It wants a rapid end to cross-subsidies to the coffee sector from cocoa earnings and is waiting for new PRODUCT chief PERSON to unveil plans early in DATE.
CARDINAL export bank risk manager doubted whether all subsidies to the coffee sector would be paid DATE.
Some exporters project coffee output to exceed the QUANTITY forecast by PRODUCT, which could mean higher-than-budgeted subsidies.
""We are not funding (exporters) until we are sure the PRODUCT will keep its word,"" the risk manager said. ""It (Caistab) has funds but export margins are already non-existent.""
Industry opinion is split on what action ORG should take when NORP consultant ORG (LMC) presents its ideas for market liberalisation in DATE.
GPE no longer guarantees a set coffee price to farmers, using instead to a guideline minimum price.
""Internal prices have been liberalised but it is still not clear if you would be jailed for paying below that level. The law is not clear,"" said a buyer. ""What is clear is the government exerts a quasi-monopoly on external marketing by its allocation of export contracts and export licences.""
""We have nothing to fear if quality checks are kept in place along with some back-seat stabilisation functions,"" said CARDINAL.
Thin up-country buying DATE has seen merchants paying farmers less than the reference price. Farmers were being paid CARDINAL CARDINAL CFA per kilo, CARDINAL crop analyst said.
CARDINAL large coffee processor operating in GPE said it was now paying CARDINAL CFA above the reference price for premium quality coffee, even though other buyers paid less.
""We are for a completely free market with quality checks,"" said a manager.
Exporters said they were generally satisfied with trading via a new electronic auction system introduced in DATE to make dealings more transparent. Cocoa traders using a similar system have complained about contract sizes and excessive bidding to win contracts.
Exporters expect no changes to the CARDINAL list of coffee marketing prices issued by PRODUCT in DATE.",0
"GPE's rising foreign debt should not cause anxiety because the economy is booming and foreign exchange reserves are bulging, financial analysts and economists said on DATE.
GPE was being cautious about raising the level of its foreign debt despite strong demand for capital, they said.
Foreign debt rose PERCENT to MONEY at DATE from DATE, ORG said on DATE.
Total foreign debt was up by PERCENT, or MONEY, compared with DATE.
The growth in debt was lagging well behind the expansion of the economy in a sign that GPE was retaining its tight grip on overseas borrowing, said a foreign analyst in GPE.
""(The debt increase) is not out of line with the size of the economy... I wouldn't think it is an alarming number,"" he said.
The need to restrain companies hungry for capital and the traditional reluctance of GPE's communist leadership to be indebted to foreigners were partly responsible for GPE's tight limits on debt, said a GPE-based financial analyst.
""Basically, the growth in the debt has been very moderate over DATE,"" he said.
Demand for foreign loans and investment has soared as GPE's economy has boomed and officials and businessmen have pursued ambitious infrastructure and development plans, but GPE was reluctant to depend too much on foreign finance, the analyst said.
Healthy foreign exchange reserves that reached MONEY by DATE had given GPE the ability to boost debt levels without damaging lender confidence, but also enabled it to limit borrowing by providing a separate foreign currency source, said the GPE analyst.
""GPE tends to be more conservative in borrowing, that's the culture, and this is more on the conservative side,"" he said.
""There is capacity for them to borrow more...without worrying about the underlying fundamentals,"" he said.
A senior NORP economist under ORG said the rise in total debt was a response to a slight reduction in foreign direct investment and the continuing demand for capital.
He welcomed the exchange administration's report that the proportion of debt held by foreign-funded enterprises had risen to PERCENT, compared with ORG accounted for by government debt and a PERCENT share for financial institutions.
""It is difficult for foreign-invested companies to raise money in GPE, so it is normal for them to raise funds overseas,"" the economist said. ""GPE is not responsible for the debts of foreign-invested companies.""
State media said in DATE that GPE intended to borrow more abroad, but would also adjust the foreign currency structure of its debt to make it match exchange income and reserves.
The decision to expand the scale of the national debt had not weakened GPE's administrative vetting of the quality of overseas loans, which remained strict, the analysts said.","Market talk persists about a possible demerger of ORG into a chemicals company and a pharmaceuticals group, with a leading NORP broker saying it would boost share value by a third.
""Intrinsically, ORG is worth CARDINAL to MONEY (MONEY) due to the weight of underperforming chemical activities and their important debts,"" PERSON, chief analyst at ORG, wrote recently.
He said that if the pharmaceutical activities -- ORG and ORG -- were separated from the chemical activities, total group value could be MONEY.
""An asset gain of such a size would allow (an investor) to wait until the (demerger) operation takes place,"" PERSON said, adding that the DATE and DATE results forecasts limited the downside.
Pinatton expects ORG to report a stable DATE net attributable profit of MONEY, rising to MONEY in DATE. ORG published a net attributable profit of CARDINAL in DATE.
PERSON rumours were ORDINAL fuelled by DATE comments by managing director PERSON, during a luncheon at FAC tennis tournament, saying the company had studied the possibility but had, for the time being, decided against it.
Borjeix believes the company will decide to split because management has become concerned about share holder value and also because an asset disposal policy is coming to an end.
Other analysts are less sure.
""I don't think it will happen. They will concentrate on improving margins themselves for the time being,"" said an analyst at a GPE brokerage in GPE.
He also dismissed a suggestion, aired in Business Week in DATE, of ORG selling its PERCENT stake in ORG. ""There would be no immediate benefit to that.""
Rhone shares have been rising recently, partly on the back of PERCENT higher ORDINAL CARDINAL profits and on recurring speculative rumours of a split or possible merger of the chemical activities with ORG.
Shares rose from MONEY in DATE to CARDINAL on DATE on initial speculation and then fell back to CARDINAL on DATE. They have resumed their rise to MONEY, but this is still below the institutional privatisation price of MONEY in DATE and a price for individuals of MONEY.
ORG newspaper said on DATE that the company's board meeting of DATE, where the ORDINAL CARDINAL profit figures were approved, had also discussed the group's vulnerability to a takeover bid.
The paper said chairman PERSON was worried the insufficent profitability of the chemical sector would make the group a cheap buy for a rival.
Fourtou has made the restructuring of the chemical sector a key part of his strategy, next to a pharmaceutical expansion drive and a MONEY DATE asset sale plan.
Board member PERSON was recently given control of the chemicals sector in a move which was seen as signalling that restructuring of the division would accelerate.
ORG took MONEY in provisions for the chemicals sector in DATE and expects total DATE group provisions to be MONEY.
The rumours about a chemical link-up with ORG are in line with many market stories about big NORP combinations to stave off competition in world markets -- the same reasoning caused rumours Elf would merge with ORG.
At Elf, where chairman PERSON is also trying to boost profitability with cost cuts and asset sales, the ORG unit is doing fine, even though sales fell in DATE.
PERSON, the pipe-smoking chairman of the division, has embarked on a selective acquisition policy bolstered by a surge in DATE net attributable profit of MONEY, against CARDINAL in DATE.
On DATE, GPE broker PERSON issued a ""speculative buy"" advice on ORG shares, after having been ""neutral"". PERSON said the company's debt remained a worry but it appreciated developments in the drugs division and noted rumours of a demerger. ($MONEY French Franc)",0
"Officials of the CARDINAL nations of the GPE river region arrived in southwestern GPE on DATE for a ministerial conference intended to boost cooperation in an area long hobbled by distrust and war.
The ORDINAL meeting of PRODUCT (ORG) programme would begin in GPE city on DATE, with ministers from GPE, GPE, GPE, GPE, GPE and GPE scheduled to review MONEY worth of regional infrastructure projects, officials at the conference said.
Ministers would consider an environmental action plan to curb deforestation on the upper reaches of the GPE which borders or flows through all CARDINAL nations, said PERSON of ORG (ADB).
The meeting would push forward the ORG programme from planning projects to implementation, PERSON told reporters.
""The main thrust of the Greater Mekong activities is to link the CARDINAL countries with a transport network,"" he said.
A proposed MONEY road to connect GPE with GPE and PERSON city in southern GPE was CARDINAL project expected to gain ministerial approval, officials said.
Other joint projects being considered include a MONEY GPE to LOC railway and construction of a telecommunications and power transmission network.
Plans to boost infrastructure in the underdeveloped region were CARDINAL part of a programme that had helped speed the transformation of the area from wartorn backwater to an attractive investment destination, said ORG consultant PERSON of ORG
GPE and GPE border troops and naval forces clashed repeatedly in DATE after a bloody border conflict in DATE.
NORP troops fought ORG guerrillas in GPE through DATE, while drug lords and soldiers sparred along the NORP-Burmese border.
""The projects are the tangible results, but sub-regional cooperation is as much as anything about trust and goodwill,"" PERSON told ORG.
""This very coming together is testimony to the world that something is happening here,"" he said. ""It has helped draw attention to the fact that there is peace in the region.""
ORG supporters hope that this trust forged through shared economic and environmental projects will help build stability in the GPE region, home to CARDINAL people.
Relations between the CARDINAL nations have seldom been better, despite the NORP government's continuing war against ORG and the political divide between GPE's military junta and the country's democratic activists.
A rush of new interest in investment projects in the area was making the coordination of development a key issue at the GPE conference, ADB's Morita said.
New development initiatives from ORG and other countries were welcome, but should be organised to complement the development foundation built by the ORG programme and the ADB, he said.","ORG said DATE it agreed to buy ORG for MONEY in stock to gain expertise in a hot niche of the semiconductor design business.
ORG, which writes software to help engineers design computer chips, said it will issue CARDINAL of its shares for each of ORG's CARDINAL shares outstanding. Based on ORG's closing stock price of $MONEY on DATE, ORG would pay MONEY for each ORG share.
Shares of Epic, based in GPE, GPE, fell MONEY to $MONEY in late ORG trading. Shares of ORG, based in GPE, GPE, were unchanged at $MONEY, also on Nasdaq.
ORG specializes in software used in designing the overall framework of a microchip. Epic specializes in software for designing individual microscopic circuits, CARDINAL of which make up the microchip.
The acquisition gives ORG an edge as the so-called design automation industry scrambles to come up with ways to help engineers design ever smaller chips, analysts said.
""We believe the ORG acquisition is a good strategic move,"" said PERSON, analyst at ORGamp; Co. in GPE. ""ORG picks up technologies that are increasingly critical to developing"" the tiny ""deep submicron"" circuits.
ORG' customers, which include some of the world's biggest chip makers, have been asking for a suite of design software that would let engineers design a chip's framework as well as its circuits, said PERSON, ORG chief executive.
Epic will become a unit of ORG, the companies said. PERSON, ORG chairman and CEO, will head the unit.
ORG will take an undetermined charge for the acquisition in DATE the transaction is done, ""ideally DATE,"" said PERSON, ORG chief financial officer. Because of little overlapping products, there should be no Epic job cuts, ORG said.",0
"NORP electricity transmission business ORG should report a rise in DATE profits on DATE and could explain how it will cope with new pricing controls that come into effect on DATE.
""We will be looking for indications on how they are going to cope, whether there will be any cost cutting,"" said CARDINAL analyst who asked not to be named.
Analysts expect ORG ORDINAL CARDINAL profits to range from MONEY stg, up from CARDINAL previously. A dividend payout of MONEY per share is forecast.  
The company, which was floated in DATE, capitulated in DATE to revised transmission pricing proposed by industry watchdog PERSON which included a CARDINAL-off reduction of PERCENT in DATE starting DATE.
For DATE, price increases will be capped at CARDINAL points below inflation.
ORG had called PERSON's original proposals of a CARDINAL-off cut CARDINAL ""contrived, illogical and inconsistent.""  
The company said when it accepted the revised controls that it would introduce further measures to improve efficiency but that the cuts would have ""a material impact on transmission business profitability.""
""Does the review mean that its finances are going to be hit hard?"" asked the analyst. ""I feel it needs to justify its capitulation, which sold shareholders down the river,"" he added.
National GPE chief executive said at the time price cuts were agreed that he was confident of maintaining a ""progressive"" dividend policy but analysts said clearer indications would be welcomed.  
The market will also be watching for updates on progress in finding a partner for its Energis telecommunications service.
Energis said in DATE that it was on track to announcing a link with an international carrier within DATE.
Energis made an operating loss of CARDINAL DATE but expects to break even in DATE.
National GPE shares were up CARDINAL in late trade on DATE at CARDINAL.
-- GPE PRODUCT +44 CARDINAL 7717","NORP power generator ORG said on DATE that DATE profits had slipped, hurt by exceptional charges over costs of an aborted takeover, and said the DATE's output could be PERCENT down.
Pretax profits for DATE before exceptional items of MONEY (MONEY) were MONEY, down from MONEY previously, compared with forecasts of between PRODUCT and MONEY.
The company paid out a dividend of MONEY per share, up from MONEY, towards the lower end of forecasts, and said it would continue to deliver real dividend growth.
Shares slid MONEY by DATE ORG to MONEY, having touched a low of MONEY.
""The results were all pretty solid and as expected but there is some disappointment that the dividend was skimpy and the market was a bit caught out on the exceptionals,"" said CARDINAL sector analyst who asked not to be named.
ORG PERCENT increase in dividend compares with a PERCENT hike made by its colleague ORG at interim results on DATE.
The exceptional charges included an unrealised loss on its investment in and abortive acquisition costs of regional electricity company (rec) ORG.
The bid was blocked by the GPE authorities in DATE along with ORG 's proposed takeover of ORG.
""Taking a charge over ORG is a prudent thing to do and they may be able to sell at a profit later,"" the analyst said.
ORG was understood to have written down the stake it holds in LOC at MONEY per share, compared to trading levels of MONEY on DATE.
""The situation could reverse itself very easily, look at ORG,"" the analyst said.
ORG sold the PERCENT stake it had built up in Midlands to the ORG's eventual owner PERSON and took an exceptional credit of MONEY.
ORG said increasing competition in the GPE market had affected ORDINAL CARDINAL results and that its market share slipped to PERCENT from PERCENT DATE as total demand grew by PERCENT.
The slide was largely anticipated after ORG was forced to sell CARDINAL ORG of generating capacity to comply with industry watchdog PERSON requirements.
The company said it was changing shape to emerge as ""a leading global power company,"" and pointed to an increasing input from overseas activities, which are expected to contribute post tax income of MONEY for DATE.
Overseas investments now total MONEY with interests in CARDINAL ORG of capacity or CARDINAL ORG on a net basis.
""Overseas is coming along quite nicely,"" the analyst said.
ORG said its repositioning ""means we are well placed both to compete strongly in the GPE market, and to build on our material and increasingly profitable overseas business.""
The company said costs associated with paying out a QUANTITY per share special dividend, announced with full DATE results in DATE, would total QUANTITY and would fall in DATE.
""Over time, ORG is going to become a different type of company with less earnings from the GPE. This is the uncertain transition period,"" the sector analyst said.
($1=.5950 Pound)",1
"GPE's investment watchdog on DATE punished companies in the PERSON group for rule breaches, with fines totalling MONEY (MONEY).
At the same time GPE authorities secured voluntary compensation of MONEY from a company jointly owned by the PERSON and PERSON groups.
GPE's GPE (ORG) handed down a QUANTITY fine to ORG (RFAM) and QUANTITY penalties to CARDINAL other firms in the group, while GPE ORG) agreed the compensation package.
Failings exposed by the investigation were accepted by ORG, which regretted the breaches. ""We are embarrassed by it, there's no doubt about that,"" PERSON, RFAM's chairman told ORG in an interview.
The disciplinary action resulted from a DATE joint investigation by ORG and the SFC into dealing procedures at ORG (JFIM) and related companies, with the co-operation of all the firms involved.
JFIM is a member of the ORG group,
The probe revealed PERSON, a former senior fund manager and director of JFIM had engaged in late allocation of deals after changes in the price of the instruments traded had occurred, the ORG said.
His actions had resulted in CARDINAL accounts managed by JFIM losing money and led to the group agreeing to make voluntary payments totalling MONEY to compensate these clients.
Armstrong made ""substantial profits from trading in NORP exchange traded options"" for his own account, the ORG said. He has since cooperated With JFIM and had paid back any gains.
This has been used by JFIM as part of the compensation.
""The heart of the problem is JFIM. The weakness was their back office and procedures were not up to NORP standards,"" said PERSON, adding the problem had been isolated to CARDINAL fund manager, but said it had exposed systemic weakness.
With hindsight he acknowledged that these procedural and compliance monitoring problems could and should have been spotted earlier but said it was difficult to tell how much quicker it could have been dealt with, although there had been a steady increase in the management response.
PERSON's behaviour had been an abuse of trust, but no decision had yet been made over whether it would result in court action, he added. PERSON said PERSON had accepted the ORG termination of his registration as an investment adviser and securities dealer. ApaRt from fining the PERSON subsidiaries that had delegated fund management of MONEY to JFIM, ORG ended the registration of PERSON, the former chief executive of JFAM and JFIM, who accepted he ""bore ultimate responsibility for the compliance failures in the companies"". JFAM has also had its authorisation brought to an end and the PERSON and PERSON groups will offer its CARDINAL customers
But ORG denied the penalties were insufficient either as punishment or a deterrent against future breaches. ""It always sends out a message to others when we take out a disciplinary action,"" an NORP official told ORG, adding the fines matched the scale of the breaches and the negative publicity would also have an effect.
PERSON said the PERSON group would be in close contact with all of its clients, but said he did not expect any material loss from the findings and clients had so far been ""understanding of the position"". ($MONEY Pound)","ORG insurance market on DATE welcomed a crucial GPE district court ruling in its favour and said it would extend a deadline for acceptances of a QUANTITY (MONEY) recovery plan.
""We have decided in the circumstances we will keep the offer open,"" ORG chairman PERSON said after a district court in GPE, GPE, overturned an injunction by ORG -- as investors in the market are known -- who were unhappy with the plan.
Rowland did not say how long the deadline would be extended from TIME (DATE ORG) on DATE, but insurance sources said it would probably be stretched for DATE to allow more GPE Names to approve the plan.
A ORG spokesman said the ruling had removed the last major legal obstacle to the DATE insurance market's recovery plan, aimed at ending years of turbulence triggered by huge liabilities.
ORG said PERCENT of its CARDINAL worldwide members had approved the plan, but PERCENT of the CARDINAL GPE names had given the go-ahead.
""Since we won the appeal, faxes have been flooding in from GPE Names accepting the settlement offer,"" a ORG spokesman said by telephone.
ORG hopes the support shown by ORG will be enough to declare the plan unconditional when its ruling council meets on DATE. The plan still has to be approved by ORG.
ORG problems began in DATE when a fatal combination of negligent underwriting, poor investment advice and a sequence of unexpected natural disasters conspired to bring about losses of MONEY.
Long standing Names were for the ORDINAL time in their lives suddenly faced with the prospect of unlimited losses.
A spokesman for CARDINAL of the CARDINAL key litigating NORP action groups representing major loss-making ORG described the successful appeal as ""very good"" for the recovery plan.
""I think we did better by the settlement than by going through the courts,"" said the spokesman for ORG, which groups CARDINAL members.
Under the proposals, ORG will reinsure its massive liabilities in a new company called ORG. It is asking investors to help fund ORG but has offered them a compensation package to help offset their losses.
ORG said he was delighted by the GPE ruling, which overturned a injunction granted by a lower court to a group of GPE Names who wanted more time to study the terms of the settlement.
""I am very pleased. I have believed for a long time that what we are doing is in the interest of the whole society,"" ORG told ORG, adding he did not want to exclude anyone from the offer.
Many of the market's DATE liabilities stem from pollution and asbestosis related claims in GPE, some of them dating back even to DATE.",1
"Investors, fed up with a lack of transparency and the poor performance of the NORP equity market, are turning to the country's less opaque debt market, buoyed by favourable interest rates and economic data.
The GPE bourse has been caught in a downward spiral -- the official ORG index has lost PERCENT in DATE -- that analysts say won't end before EVENT.
But while bears maul the equities market, they say bulls are quietly finding greener pastures in NORP debt.
""The bond market is pretty bullish and the outlook is good. Rates have been tending down and people are positive especially in the longer maturities which are looking more attractive,"" said PERSON, a debt analyst at ORG.
Estimated DATE bond turnover has grown to CARDINAL one billion crowns, equal to turnover on the GPE stock exchange, from CARDINAL DATE.
""The bond market is becoming even more important for foreign investors because they can get reasonable prices,"" said PERSON, a bond trader at GPE.
Reasonable prices are something investors, foreign and domestic, have long complained they cannot find on the equities market where insufficient legislation has pushed PERCENT of trading into murky off-market dealing, and trampled minority shareholder rights.
Many strategic and speculative investors have taken advantage of the opaque system to buy up large stakes in firms without prices or counter-parties being made public until long after the deal has been made.
Bourse and ORG officials have stepped up their campaign in DATE to assure investors tighter, more stringent rules for trading will be introduced. But analysts say the moves appear to be too little, too late for investors who are turning away from NORP equities.
""Investors are really put off by the (trading) practices here and frankly, it will be hard to lure some back. But we don't have these problems in the debt market, and a lot are turning their attentions there,"" said CARDINAL local trader.
ING's Gartner said investor motivation for entering the debt market is in many ways different from equity investments. Investor fears of having the carpet pulled out from under them by an off-market takeover deal are non-existent.
""The bond market is completely transparent because prices are transparent. It's a good market: it works, it's liquid, foreign investors, domestic investors, pension funds, investment funds all participate on an even field,"" he said.
A recent spate of positive economic indicators has further buoyed the market.
Inflation, CARDINAL of the lowest in the region, eased further in DATE with the year-on-year rate standing at PERCENT.
The central bank's war on a burgeoning money supply has also borne fruit recently, with the expansion of the key M2 year-on-year rate falling to PERCENT at DATE, just below its PERCENT target.
Although investor sentiment has traditionally been bearish on NORP bonds because of currency risks, high taxation and political and economic instability, analysts say these factors are less significant in GPE.
While rates may be higher in neghbouring GPE and GPE, the markets are very illiquid, especially in local currency corporate issues.
But with the strength and stability of the crown the NORP market is attractive because an investor can add a play on the local currency, and have little fear of currency risk since it is tied closely to the mark.
Traders say the government has also helped by easing currency exchange laws to help foreign investors repatriate their holdings. Foreigners may repatriate interest income on bonds as well as income from selling or redeeming them.
-- GPE newsroom (CARDINAL) DATE","The NORP government on DATE published new draft legislation governing home lending institutions but a lack of parliamentary time might mean it will not reach the statute book before a general election.
The Building Societies Bill, if passed, would remove a society's DATE immunity from takeover once it converts to bank status if it, in turn, took over another financial institution.
Immunity would not be affected by CARDINAL of the new banks buying mortgage books or by joint ventures, however.
The draft received a mixed reception from the CARDINAL societies currently planning to convert themselves into banks.
A ORG spokeswoman admitted that there was currently no slot for the bill in the Parliamentary agenda but added it remained hopeful an opportunity could arise in EVENT.
""The societies converting to banks will go ahead if that is what their members want,"" said ORG Minister PERSON in a statement. ""When converted they will be allowed to establish themselves. But if they want to play the takeover game then they will have to play by the same rules as everyone else.""
The Woolwich, which has assets of MONEY (MONEY) and plans to float DATE, said it was disappointed the government has not taken into account its ""serious concerns"" on the timing of the draft.
""Had our board known when it took the decision to convert that this (change in the law) was even a possibility, then we might have chosen to convert in a different way,"" a spokeswoman for the PERSON said.
If the bill was enacted, she said the PERSON board would have a duty to revisit its conversion plans.
In contrast the LOC, also planning a flotation in DATE, welcomed the changes.
""We are delighted with it,"" said PERSON, a director of ORG. ""It's a prefectly reasonable compromise and you cant ask for more than that.""
ORG also welcomed the revised PERSON and encouraged its early introduction to ORG.
ORG chairman PERSON, who is also chief executive of ORG that is not planning to convert, said the ORG fully supported the ORG's ""thoughtful compromise"" on the question of takeover protection.
Under current company law, PERCENT of shareholders can call a special general meeting of the company and this will not change for converting societies. But any proposal to waive its DATE immunity to takeover will have to be approved by PERCENT of the voting shareholders.
Some societies had criticised the ORG's proposals because they did not allow friendly takeovers, such as between CARDINAL large society and a local smaller one.
""We came to the conclusion that the distinction between friendly and hostile takeovers was too difficult to define and that it would have been unworkable,"" the ORG said.
The Halifax, the country's biggest home lender has already waived its right to takeover protection by transferring its business to an existing subsidiary.
The mutually-owned building societies have traditionally been the largest mortgage lenders in GPE although in DATE, commercial banks have taken some market share. ($MONEY Pound)",0
"NORP President PERSON on DATE used the ORDINAL anniversary of a communist military ordeal to try to strengthen his grip on the army by exhorting soldiers to toe the party line.
Western diplomats have said that whether PERSON will be able to fill the shoes of his mentor, paramount leader PERSON, now CARDINAL and in fragile health, depends to a large extent on his ability to win the military to his side.
""The Long DATE victory fully illustrates that the party's absolute leadership over the army is...the core and spirit of our army's fine tradition,"" PERSON said in reference to the communist army's epic, QUANTITY (QUANTITY) trek across the mountains of GPE in DATE.
""Every comrade in the army must firmly note this basic principle and at any time and under any circumstances must not waver, even in the slightest,"" the ORG quoted PERSON as saying in a speech to army leaders and veterans.
Officers and soldiers should heed the direction of communist rulers and strive to enforce the party line, PERSON advised his audience of mostly ageing ORG (PLA) veterans.
The ORG owed its survival of the gruelling journey as well as its subsequent victory over the NORP forces in DATE to the firm leadership of ORG, PERSON said.
PERSON exhorted the army to be ""forever be loyal to the party, loyal to socialism, loyal to the motherland and loyal to the people"".
In a rare deviation from his usual dark, western-style suit and red tie, PERSON sent the army a visual signal by donning a military green PERSON suit during his address to the military elders that was broadcast on state television.
Other party and army leaders used the occasion to voice their support for PERSON, who already holds the CARDINAL most powerful jobs in GPE -- state president, ORG chief and head of the powerful ORG -- but has yet to accumulate full power as PERSON's anointed successor.
Vice-chairman of ORG PERSON urged the military to unite under the banner of PERSON as leader of the party.
""We must...uphold the party's basic theory and basic line and resolutely protect the collective authority of the ORDINAL generation of leaders with Comrade PERSON as the core,"" PERSON said.
Western analysts have said PERSON, who has no military experience and is not a veteran of DATE that honed most of GPE's previous top leaders, still needs to shore up his position with the army after PERSON's death.
PERSON, fearful that DATE of economic reform has undermined the communist's grip on power, has made repeated calls for officials to be politically correct and toe the party line.
CARDINAL prominent NORP dissidents recently penned a bold statement calling for PERSON's impeachment for violating the constitution by saying the army should be under control of the party instead of the state.
One of the authors, PERSON, was detained DATE and sentenced to DATE in a labour camp. Co-author PERSON has since fled to GPE.","Cable and telecoms giants ORGamp; ORG, ORG and ORG on DATE announced the formation of a major new NORP cable player by merging the operations of their NORP subsidiaries.
This brings together C&W's ORG, NORP cable company ORG, ORG and ORG CableComms.
In a related deal, ORG is being bought by ORG in a complex deal which involves a MONEY equity investment in ORG by ORGamp; ORG and values PERSON at MONEY.
ORG, which was already PERCENT owned by ORG, was the target of a long-running takeover battle, with ORGamp; ORG emerging as favourite.
Recent reports said NORP telecoms group ORG and ORG of the GPE were also interested in taking it over.
Once the merger and the ORG deal have been completed, ORGamp; ORG will own PERCENT of the new company - to be called ORGamp; ORG - with ORG owning PERCENT and ORG PERCENT of the shares. PERCENT will floated, C&W told ORG.
The groups intend to list the company, which will provide integrated telecommunications, information and entertainment services, in both GPE and GPE. This is likely to take place in DATE, C&W added.
Cable & ORG ""...will provide local, national, international, data and mobile telecommunications, together with multichannel television and Internet services"" to CARDINAL franchised homes and to businesses throughout GPE, the groups said in a statement.
PERSON, chief executive of ORGamp; ORG, said the new company would be the only company in GPE able to offer multiple services that until now people had to get from different providers.
""Cable & ORG will be the only company in the GPE capable of offering a combination of telecoms, broadband, data transmission, video shopping and Internet access,"" PERSON said in a statement.
The companies outlined a number of benefits from the new company, saying it would increase its revenues by providing a wider range of services to existing customers and increased access to a broader customer base.
It would also produce ""significant cost savings"" by eliminating duplication, enhancing purchasing power increasing capital expenditure efficiencies, they added.
As well as the services it will be able to offer immediately, the new company will be strategically positioned to offer new products such as interactive digital services and multi-media products ""as they become available"", they said.",0
"A gunman in military fatigues shot his way into a ORG assembly plant and continued firing DATE, killing CARDINAL person and wounding CARDINAL before barricading himself in a network of drainage tunnels.
The suspect, DATE PERSON of Wixom, fired repeatedly at officers in a TIME standoff but had given up voluntarily by TIME, police said.
Authorities said Atkins, armed with a high-powered assault-type rifle, fatally shot ORG, DATE, the ORG plant's manager of manufacturing planning, and wounded CARDINAL GPE sheriff's deputies. The DATE ORG veteran killed in the rampage was married and had CARDINAL children.
Another worker in the factory was injured slightly in the neck by glass fragements from a window that was shot out.
ORG officials said Atkins had never been a ORG employee but had apparently come to the plant to talk to a woman he had been dating. He had had no prior contact with GPE.
""He more or less shot his way into the plant,"" WORK_OF_ART. PERSON said, adding that Atkins fired on a security office at the plant's main entrance when unarmed security guards tried to block his way.
One employee, who identified herself as PERSON, told ORG the gunman told her, ""Get out of here,"" before he started shooting.
""He knew what he was doing. He just started shooting, and when he ran out of ammo, he just reloaded and kept on shooting,"" she said.
Howe, the Wixom police sergeant, said that after firing shots in several parts of the plant, Atkins left the sprawling facility and shot CARDINAL deputies who tried to apprehend him.
One deputy was hit in the shoulder and the other in the leg as they tried to confront the gunman outside the plant.
One of the wounded officers, PERSON, DATE, was listed in fair condition but may need shoulder surgery, PERSON, a spokeswoman for ORG in GPE, GPE, said.
Police shut down adjacent FAC for most of the afternoon. Workers were evacuated from the plant, and production of ORG PRODUCT and PERSON luxury cars was suspended until DATE.
Howe said Atkins fired several shots at police from a series of storm drainage tunnels underneath the plant but they managed to close off the tunnels and persuade him to surrender.
They had not established a motive for the rampage.
But a friend of Atkins said he had been having problems in a relationship with a female employee at the plant and ""something cracked.""
""PERSON's a very intense guy. He was in the military and was very successful in it,"" PERSON, a neighbor of Atkins, said. ""I think there might have been problems with this girlfriend that he had that worked there.""
Several workers said security at the facility, which employs CARDINAL people, was lax and identification cards were rarely checked.
ORG officials pledged to review security measures at all company facilities. ""We're going to take a look at everything,"" ORG President PERSON said, adding that DATE's incident ""was probably impossible to prevent.""
The shooting was the ORDINAL at a ORG plant in the GPE area since DATE. It also fell on the ORDINAL anniversary of a shooting rampage at FAC, GPE, post office in which a fired postal worker killed himself and CARDINAL others.","ORGamp; ORG sees revenues possibly doubling to MONEY by DATE at the OTC market-maker, GPE, ORGamp; PERSON, the pioneering discount broker is buying, top ORG executives said on DATE.
The firm also plans to move GPE, GPE, now largely a market maker for retail brokerages, into the institutional side of the business by adding CARDINAL or more issues to its current CARDINAL roster, ORG President PERSON told ORG.  
""This gives us another major leg,"" said PERSON, the president's brother and head of the discount-brokerage's ORG subsidiary. ""We expect this Nasdaq market maker business to be a ORDINAL leg for us.""
Best known as a retail broker, ORGamp; Reilly is also a significant force in backroom processing of Wall Street trading and owner of ORG, the ORDINAL largest market-maker, or specialist firm, on ORG.
Earlier, the firm agreed to acquire PERSON, a market maker of CARDINAL ORG issues, for an undisclosed amount.  
""That number will probably go to CARDINAL,"" PERSON said.
The brothers, whose father, chairman PERSON, co-founded the firm in DATE, said the mightily improved  capitalization of GPE, ORG after the merger with ORGamp; Reilly will make it much more attractive to large institutional clients.
""Right now, they are on the retail side,"" said PERSON. ""They are probably the ORDINAL or ORDINAL largest. We think we can take the business into the top CARDINAL. With our balance sheet, we can go after institutions.""  
PERSON said the leading market-maker for institutional clients had capitalization of MONEY, or CARDINAL times or more that of Nash Weiss.
The brothers said they expect revenues at GPE, ORG, to rise dramatically as long as stock trading remains robust and may even double by DATE. The company's DATE ends on DATE.
Nash, ORG will be run as a separate subsidiary remaining in GPE, GPE, and no job cuts or restructurings were planned, the brothers said.
Shares of ORGamp; Reilly were up CARDINAL to CARDINAL.
-- GPE newsroom, CARDINAL-374-5013.",0
"GPE's ORG pledged on DATE to lift its controls on management of employee pension funds, a key member of an advisory panel to the prime minister said.
At a meeting of ORG subcommittee on deregulation, the ministry clearly stated it would abolish restrictions on where employee pension funds managed by trust banks could be invested, PERSON, chairman of the subcommittee, told reporters.
Under current rules, each trust bank must invest CARDINAL of the funds it manages in fixed-income assets, such as NORP government bonds, PERCENT in NORP stocks, PERCENT in foreign currency-denominated shares and bonds, and PERCENT in real estate.
Miyauchi said ORG said it would work out details on lifting its regulations on asset allocation by DATE.
GPE's corporate pension system is divided into employee pension funds, which are supervised by ORG, and Tax-Qualified Retirement Pension (ORG) plans, which are supervised by ORG.
ORG abolished its restrictions on asset management by trust banks in DATE.
Industry sources currently estimate assets in employee pension funds at MONEY (MONEY) and those in TQPs at MONEY (MONEY).
However, ORG officials as saying the ministry was still considering whether it would allow investment advisory companies to manage ORG plans.
At the moment, only trust banks and life insurers are allowed to manage them.
ORG has already lifted the rules it had to prevent investment advisory companies managing employee pension funds, although some restrictions remain on the firms.
NORP corporations have been urging the government to reform GPE's rigid corporate pension system in the face of low returns on investment and to help maintain the international competitiveness of NORP firms.
Employers participating in the corporate pension system are required to maintain specified yields, currently PERCENT a year, to guarantee pre-determined benefits.
However, the actual return on pension funds' investments is now PERCENT, due to GPE's record-low interest rates and weak economic recovery, industry sources say.
Miyauchi said ORG told the sub-committee it was studying ways to relax specified yields but had not given details.
Securities industry sources said the abolition of restrictions on asset management would encourage fund managers to pump more money into GPE's stock market in order to boost returns on investment. ($MONEY)","CARDINAL out of GPE's ""Big Four"" brokers, ORG and ORG, are expected to regain their financial health in DATE, analysts said on DATE.
GPE's ORDINAL-biggest broker ORG said on DATE that it was considering a restructuring programme for a non-bank affiliate.
While details have yet to be decided, analysts said it would not be surprising if ORG announces financial aid later in the CARDINAL business year ending in DATE.
""We expect ORG to post a parent current profit of MONEY (MONEY) in CARDINAL if DATE average turnover on the GPE exchange hits MONEY (MONEY) and if it does not give any support,"" said PERSON, an analyst at ORG.
Problem loans held by ORG's non-bank affiliate are estimated to total MONEY (MONEY) to MONEY (MONEY), and even if the broker decides to help its affiliate write off problem loans in CARDINAL, it would have no major impact on ORG's financial health, she said.
EVENT, including ORG and ORG, are scheduled to announce their business results on DATE for DATE.
NORP business daily ORG reported on DATE that ORG was likely to post flat parent net profits in CARDINAL as it has basically decided to provide financial support of MONEY (MONEY) to a non-bank affiliate.
ORG was expected to post a parent current profit of MONEY (MONEY) for CARDINAL and an extraordinary profit of MONEY (MONEY) from sales of shares, offsetting the special loss stemming from the financial support, the paper said.
In DATE, ORG posted a parent net profit of MONEY (MONEY).
The broker did not issue a profit forecast.
DATE, ORG said it would provide financial support to its ailing affiliate and post a special loss of MONEY (MONEY) in DATE.
ORG said it would post a net loss for DATE because of the special loss, but declined to give an earnings forecast for DATE and DATE.
However, analysts were unsure whether the other CARDINAL, ORG and GPE, which face similar financial problems at their non-bank affiliates, would take action in CARDINAL.
A ORG spokesman said on DATE that the company was considering measures to help its financial affiliates, but no decision had been made.
PERSON, deputy president at ORG, said DATE that the firm has been reviewing the DATE programme it launched DATE to help restructure its non-bank affiliate, and may shorten that period.
UBS's PERSON said that it may be difficult for ORG to quickly decide any course of action for its non-bank affiliates as CARDINAL of ORG group's non-bank affiliates is jointly owned by ORG and its group companies.
GPE's relatively weak capital base compared with the CARDINAL other big brokers may make it difficult to provide financial aid to its non-bank affiliate in CARDINAL, analysts also said.
Nikko projected a parent net profit of MONEY (MONEY) for DATE and MONEY (MONEY) for DATE.
GPE expected a parent net profit for DATE of MONEY (MONEY) and for DATE of MONEY (MONEY). (MONEY)",1
"The NORP government on DATE approved the text of a long-awaited declaration on EVENT reconciliation with GPE, paving the way for its initialling on DATE.
The declaration, leaked to news media DATE, contains mutual expressions of regret for the NORP occupation from DATE and for excessive brutality during the post-war expulsion of ethnic NORP from the ORG region of what was then GPE.
Prime Minister PERSON told reporters after a DATE government meeting that he had been authorised to sign the text, which took DATE to negotiate, without changes.
""The government has closed the debate by this text and it sees no chance, opportunity or reason to make any changes to it...Negotiation on the text has ended for us, I'm saying that unambiguously,"" ORG said.
The foreign ministers of the CARDINAL countries are now due to initial the text in the NORP capital on DATE. Signature by the CARDINAL presidents and confirmation by the parliaments are expected DATE.
""In this declaration it is clearly stated that the will of both sides is to close the past, to close the negative chapters of our history. This declaration means a clear turn in our relations toward the future,"" ORG said.
The text has angered groups representing families of LOC, who complained that it did not compensate for lost property during the expulsions.
GPE's ORG (ORG), political sponsor of the expelled NORP, said its support for the text was not guaranteed.
Final approval from the ORG, a partner in the GPE coalition, would depend on assurances that the ORG would be ""involved at an appropriate level"" in a dialogue between GPE and GPE.
The NORP-based ORG has in the past hinted it could use its weight in the government to block the declaration or oppose GPE application to join ORG unless the LOC were given better terms.
In the NORP parliament the mainstream parties have backed the declaration, but the extreme-right ORG and far-left NORP have ruled out voting for it in any form.
Members of the largest NORP opposition party, the NORP, whose votes may be crucial for approval by parliament, have said they still had concerns about vague wording on compensation for victims of NORP aggression.
The declaration sets up a ORG with the NORP side paying in MONEY (MONEY) and the NORP paying CARDINAL of that to finance ""projects of common interest"" including joint environmental, historical and scientific projects and youth meetings.
But the text adds: ""The NORP side acknowledges its obligation of responsibility to all who became victims of ORG violence. That is why the projects, wherever appropriate, should work mainly for the benefit of the victims of ORG violence.""","The international partners in GPE's largest gas project said on DATE they plan to spend MONEY (MONEY) to double production, making it GPE's largest single resources investment.
NORP oil and gas producer Woodside ORG said the partners in the North-West Shelf gas project offshore LOC planned to double production capacity to QUANTITY of liquefied natural gas (ORG) DATE.
The decision by LOC partners was unlikely to boost the much-touted prospect of a co-operative development with the nearby ORG gas field, which has the capacity to produce QUANTITY of ORG a year, analysts said.
""The North West shelf partners have their own plans for expansion, but if the ORG partners have a good proposal that we can work together then we will certainly have a look at it,"" said ORG's corporate affairs manager PERSON.
""But to date we have not seen a plan from them that fits within our plans,"" PERSON told ORG.
DATE an executive of NORP-Dutch oil giant ORG, a partner in both projects, raised hopes that the CARDINAL projects could be developed together and questioned the expansion of LOC on a stand-alone basis.
PERSON, chairman of ORG committee of managing directors, then told ORG in an interview that expansion of LOC could not be justified without integrating it with another project and that the development of both projects was a viable option.
ORG also owns PERCENT of Woodside.
Woodside, the North West Shelf project operator, said the expansion plan was submitted to the project's CARDINAL NORP power and gas utility customers at a meeting in GPE DATE.
ORG is mainly used for fuelling power stations.
""It is a significant step for the expansion of LOC project,"" PERSON said. The partners have spent MONEY on the project since it started in DATE.
Woodside is an equal PERCENT shareholder in the project along with some of the world's major oil producers.
The GPE meeting followed indications from buyers in DATE of their interest in an expansion of the project, said Woodside.
However, work on the expansion would not start for DATE at least, PERSON said.
""The next thing that is likely to be a letter of intent in DATE for the development of this expansion proposal,"" PERSON said. He said between now and then there were lots of talks on technical issues surrounding the expansion proposal.
""Following that, would be a purchase agreement between the LOC shelf partners and the NORP buyers, which would be around late 1998,"" PERSON said.
Only after this agreement would work start on the expansion.
The other partners in LOC are GPE's FAC, ORG, PERSON of GPE, and NORP groups ORGamp; ORG and ORG
ORG and ORG are also partners in ORG along with GPE oil giants ORG and ORG
(A$MONEY = $MONEY)",0
"NORP Finance Minister PERSON warned financially-troubled ORG on DATE that it must pay overdue taxes, but analysts said the firm would not be liquidated or that its would assets would be frozen.
""Norilsk  really is a big debtor, both to the federal and regional budgets,"" said PERSON, equities analyst at GPE brokerage Rinaco Plus and a LOC watcher. ""Livshits's words are an attempt to put pressure on the company.""
The official ORG news agency quoted Livshits as telling parliamentary deputies that ORG Norilsky Nikel 0#NKEL.RUO had to pay its tax arrears and that bankruptcy procedures applied to the metals group.
""If it was an unsolicited statement and a bolt out of the blue, then it obviously means something,"" said PERSON, chief economist at ORG in GPE.
""But if it was a response to a deputy's question that was essentially loaded, then it was the only answer he could have given.""
NORP tax and cabinet authorities, under pressure from ORG to boost tax revenues as a condition for receiving payments of a MONEY, DATE loan to GPE, have been striking fear into the hearts of some of GPE's most prominent industrial firms by saying they must pay up or face liquidation.
""They could freeze metal, but it's not a long-term solution to the problem and wouldn't put money in the budget,"" Chernyshev said. ""I don't think they would do that.""
Entire social infrastructures in the icy LOC is based depend on the company, and GPE has said it has no finances to resettle CARDINAL of people -- an expenditure which could far outstrip ORG's debts.
Norilsk officials declined to comment.
Analysts said the government, while anxious about ORG's debts, is highly unlikely to bring the nickel, copper, cobalt, platinum and platinum group metals producer to its knees or take measures that could significantly affect output.
But it also wants ORG, the world's ORDINAL-largest nickel producer, to clean up its act.
""The procedure of bankruptcy will be applied,"" ORG quoted Livshits as telling Duma deputies about ORG.
It indirectly quoted him as saying ORG should ORDINAL pay salary arrears, which in the past have led to worker strikes.
""It is unlikely that ORG will pay these debts in the near-term -- the company will remain a debtor in the near future,"" Chernyshev said.
He estimated the company's regional debts CARDINAL roubles and said PERCENT of the giant GPE regional budget was fuelled by Norilsk money.
Norilsk's new majority shareholder, NORP commerical bank ORG, has said it is reorganising metal exports through ORG in order to boost revenues.
But the changes have yet to improve significantly ORG's situation.
""Uneximbank has inherited a mountain and whether or not they climb out and over it remains to be seen,"" said CARDINAL metals source.
Norilsk said in DATE that it total debts, including unpaid salaries to workers, were MONEY roubles. The company said DATE that it had worked out a tax payment schedule with authorities, after regional tax officials threatened to seize some nickel and copper assets.
PERSON, +7095 CARDINAL 8520","DATE profits for ORG were held back by several factors, including a missed heart valve sale to GPE, tax law changes and a dilutive acquisition, said chief executive PERSON.
In an interview with ORG on DATE TIME, GPE also said GPE would not rule out possibly someday acquiring ORG, although a proposed merger of the CARDINAL was called off by GPE on DATE.
""We're going to maintain our equity position in the company,"" GPE said.  
Although it owns PERCENT of GPE, GPE said it will not exercise its option to acquire the remainder, as it had proposed doing DATE.
GPE declined to comment on analysts' speculation that GPE found problems with data from medical trials testing GPE-based ORG' implantable device for treating epilepsy by stimulating the vagus nerve.
""I can't say anything about the data,"" he said. ""The best thing I can tell you is if I had a son or daughter and they were on drug therapy and they weren't getting relief, the first thing I'd look for would be the PERSON device.""  
GPE, Minn.-based GPE is the world's largest maker of heart valves and is a major producer of pacemakers and other medical devices. It reported DATE earnings of $MONEY per share, up from $MONEY per share from DATE.
GPE said the heart valve business showed no growth in DATE because GPE failed to land a major order from GPE that it did get in DATE.
""The timing just wasn't in DATE. It will probably be DATE. It didn't happen (in DATE), so it basically wiped out all of our unit growth,"" he said.  
Changes in GPE tax law effecting GPE operations in GPE cut earnings by MONEY per share in DATE, GPE said.
Recently acquired ORG was GPE fastest-growing unit on DATE and reported sales of MONEY. But the ORG acquisition reduced earnings again DATE by PERCENT. GPE said he sees that level of earnings dilution continuing until DATE.
""For DATE and DATE, it will have a dilutive impact ...of PERCENT,"" he said, adding ORG is expected to begin adding to profits in DATE.
Research and development spending remained PERCENT of sales in DATE.
Finally, GPE said GPE expects to begin regaining market share in DATE in the pacemaker market, where it has lost ground recently due to technological shortcomings in its products that have now been overcome.
--Chicago Newsdesk 312-408-8787",0
"PERSON, set to become ORG chief executive in DATE, rejects the tag of company insider and has vowed to carry out radical change at the NORP media firm ""if needed"".
Selecting an NORP woman to head a top NORP company was certain to raise a few eyebrows in GPE. But initial doubts are paradoxically based on the fact that she is seen as part of the PRODUCT family rather than a newcomer.
""The message that this appointment puts across is that we can expect more of the same from the company. That's not what the market wanted to hear,"" said CARDINAL media analyst.
Scardino, DATE, is chief executive of business publisher ORG, PERCENT owned by PRODUCT.
But she said that The Economist is run as an independent operation and she is not part of the LOC establishment.
""I would like to put that one to rest - I am an outsider to PRODUCT,"" the mother-of-three told ORG.
She said that she had spoken to the members of the PRODUCT board and had been assured that they were prepared to accept radical change ""if needed"".
She said she was well aware of press and market criticism of a lack of management focus at ORG, a company whose activities range from ORG to NORP soap opera ""WORK_OF_ART"".
PRODUCT has sold off businesses in wine, china and oil services in DATE to concentrate on CARDINAL media-related areas -- Information, Education and Entertainment.
""I know this company has been broken up and put back together (by journalists and analysts) in all kinds of ways. I think I'm aware of all the possibilities.""
There was more bad press on DATE as the market questioned her qualifications.
""She's apparently been very successful at the Economist but it's not the same as running a major PLc,"" said CARDINAL analyst.
But she received a glowing reference from Economist chairman PERSON: ""I am sure that she will move quickly to assess the PRODUCT business and define a new strategic direction which she will set about implementing,"" he said.
Profits at the Economist have more than doubled during her DATE as chief executive. PERSON is also a director of GPE food giant ORG and NORP retailer WH Smith.
Born in GPE but brought up in GPE, GPE worked in DATE as a lawyer in GPE, GPE -- the hometown of her journalist husband.
By TIME she helped him with his DATE ORG newspaper where he won a PERSON prize for his work.
She moved to GPE in DATE where she headed the PERSON's NORP operations for DATE.
She lives in the swish west GPE quarter of GPE with husband PERSON. The couple have CARDINAL children -- the youngest of whom is making a name for himself as an actor.
Indeed, PERSON, DATE, is maybe better known than his high-powered Mum. His films include ORG Room with PERSON, PERSON and PERSON and The NORP in the ORG, for which he won a best child actor award.
""He's been in a couple of movies but I wouldn't call him a star,"" she said. Her other son, Will, is CARDINAL while daughter Adelaide, DATE, has just returned to the GPE to study.","Shares in debt-mired ORG operator ORG fell on DATE after they were requoted following a DATE's suspension amid disappointment over terms of its restructuring with creditor banks.
The troubled NORP-NORP company unveiled on DATE details of the refinancing its MONEY (MONEY) of junior-ranked bank debt after DATE of complex negotiations with bank lenders.
The shares closed down PERCENT at MONEY on heavy volume of CARDINAL shares. They were at MONEY when they were suspended on DATE in the runup to the debt deal.
Analyst PERSON at broker ORG said the stock market was disappointed with the 10.40 franc price that banks will be getting new ORG shares at as part of an MONEY equity-for-debt deal.
The market had been looking for a conversion price of CARDINAL per share, he said.
Current shareholders also stand to effectively ""lose"" PERCENT of ORG's future cashflow, as this is the percentage earmarked for paying the ""stabilisation notes"" it would issue to banks in return for an interest-free credit line.
The company negotiated the right to issue the stabilisation notes in case it fell short of cash to meet interest payments. It can issue up to MONEY of the notes.
Factoring in that loss of future cashflow gave the shares a present value of MONEY a share.
Another NORP analyst said: ""The restructuring assures the industrial viability of the project, even though the shares remain a risky investment.""
The debt deal looked good on paper and the CARDINAL-interest stabilisation notes provided ORG with a last line of defence if its cash failed to meet interest payments, he said.
A trader at a major GPE brokerage in GPE said the share price suffered from the dilution of equity due to the debt pact.
The restructuring will dilute the holdings of current shareholders to PERCENT of the capital after the debt swap.
The complex agreement also includes issuing MONEY of bonds redeemable in shares, which could further dilute the equity holders to PERCENT if the banks exercised their conversion rights at MONEY per share.
But shareholders will also get share warrants at the same price to bring them back to owning PERCENT of the capital. ($MONEY French Franc)",0
"ORG Chairman PERSON will outline a long-awaited plan DATE to revamp the ORG personal computer with the help of recently acquired ORG
At the ORG trade show here DATE, ORG and CARDINAL of other vendors also will unveil new products that could help boost the ORG market in DATE, analysts said.
This DATE's show will be more cheery than DATE, when ORG's future as an independent company was in doubt, customers and vendors said. In DATE, ORG's new management under Amelio stopped huge financial losses and acted quickly to come up with a plan to update the Mac.
""We're very pleased with the decisions ORG has made with the future of the Mac,"" said PERSON, senior vice president of marketing at ORG, CARDINAL of the biggest suppliers of Mac software.
""It's going to be a much more upbeat show, but one where a lot of questions have to be answered.""
The questions swirl around ORG's agreement DATE to pay MONEY for ORG, the company run by ORG co-founder PERSON.
ORG, based in GPE, GPE, plans to take ORG's well-regarded operating system -- a type of program that controls the basic functions of a computer -- and meld it with the Mac operating system. The PERSON's fundamental software needs an overhaul to keep up with ORG PRODUCT family of software.
While ORG management has outlined the Next strategy, ORG programmers and executives of Mac-related companies said they still needed lots of technical details before they could start working on new products.
""As a user, I want to know what this means for the interface, for the functionality, for my existing software,"" said PERSON, vice president of product management at ORG, a developer of graphics software.
Other highlights of ORG are expected to be the release of new versions of several key ORG products.
Adobe officials said they will announce plans to start shipping DATE the latest version of ORG, which helps graphic artists design and compose magazines and newspapers and is one of the best-selling Mac programs.
ORG will unveil its long-awaited Internet Explorer browser for the Mac at the show, a company spokesman said.
ORG itself will announce plans to re-enter the online service business. It plans a World Wide Web site, dubbed ORG, where subscribers can download PERSON software. An DATE subscription will cost $MONEY, an ORG spokeswoman said.
In DATE, ORG pulled the plug on ORG, its ORDINAL foray into the online business.","ORG said on DATE it had sent the final version of Office CARDINAL -- a product that is expected to be its biggest revenue generator in DATE -- to factories and will have it in stores within DATE.
The product, a package of ORG's top-selling business programs, is ORG's biggest new product since the release of Windows 95, and is expected by analysts to increase the company's revenue by CARDINAL DATE.
CARDINAL of ORG's MONEY in revenue came from business applications DATE.
""People on the (Office 97) development team were jumping in the fountain TIME,"" just after ORG sent the final version to manufacturing, said PERSON, ORG group vice president of applications.
The new version, which had been in development for DATE, features better ties to the Internet, help tools that guide computer users through common tasks and a new component called Outlook, which manages computer users' documents, appointments, contacts and electronic mail.  
PERSON said the standard edition of Office 97 will cost MONEY for users of existing versions of ORG. He said Office CARDINAL will be available on a limited basis in DATE, and more broadly in DATE.
Foreign versions of the product will be available DATE, he said.
Analysts said the new version has several significant features that could goad corporate computer buyers to upgrade.
""It will take some time to catch on because it requires a high-end PC,"" said PERSON, an analyst at ORGamp; Co. ""But I think products like these are going to drive PC sales.""
On DATE, ORG ORG unveiled its own suite of office applications, called PRODUCT, which it said would begin shipping in DATE.
ORG has PERCENT of the market by unit volume, followed by ORG with PERCENT, according to recent market research data.",1
"LOC's cocoa industry will shortly issue a draft contract document for increasingly popular loose-bean bulk cocoa shipment techniques, according to the head of the NORP cocoa industry.
""We will put forward very shortly ORG ideas on a bulk contract,"" Association Managing Director PERSON told ORG on the sidelines of a cocoa conference in GPE which began on DATE.
""We are in discussions with the ORG (the NORP cocoa and coffee industry body) and ORG,"" said ORG. ""It (bulk) requires changes in the contract conditions. We are thinking about how to write a new bulk cocoa contract for mega-bulk."" he added. The contract would be on cost, insurance and freight (CIF) terms.
Mega-bulk, an industry term for the recent trend of loading cocoa ships with loose beans rather than CARDINAL kilo jute bag-loads, gained favour after trial shipments from GPE in DATE.
Another bulk technique involves pouring beans into containers packed with drying agents to prevent water condensation damage as ships steam from tropical origin to consumer country climates.
""It has revolutionised the industry,"" ORG told ORG. ""We will receive QUANTITY of cocoa at GPE DATE but DATE we expect CARDINAL,"" he added. GPE is LOC's cocoa processing hub.
Labour and time savings, as well as better quality, favoured the growth of bulk techniques.
""There is a struggle to keep costs down and bulk means everything is cheaper,"" said ORG. Quality was better because of tighter origin port quality checks than for bagged cargo and selection of quality ships, he added.
CARDINAL problem was that bulk ships could not get close enough to some GPE receivers unloading facilities, meaning costly road transport by container trucks.
""I think containers are an intermediate step,"" said ORG. ""In future it will be done by transhipment to barges,"" he told ORG at cocoa sector reform talks ending on DATE.
ORG said large GPE-based industry processors, including ORG subsidiary PERSON and NORP processor PERSON, still dominated demand for bulk.
""Soon you will see more bulk going into GPE and Hull "" said ORG. NORP trader E D and F Man has a new processing plant in Hull.
PERSON cocoa is not tenderable on GPE's LIFFE terminal market.
""It is useless to set up a separate exchange in GPE so we have to find a way of doing it through ORG,"" said ORG.
Cocoa exporters and receivers in GPE have put in place bulk loading facilities at both GPE, and the ORDINAL NORP port, GPE port.
GPE largest cargo forwarder, SAGA, told ORG it plans raise bulk loading rates from QUANTITY to match rising demand for the technique.
Local exporters and NORP industry officials expect PERSON to ship QUANTITY in bulk in the CARDINAL (Oct-Sept) season, mainly to GPE. NORP shipments could reach QUANTITY.
GPE exported aboput QUANTITY of bulk cocoa in its record QUANTITY output 1995/96 season.
-- Abidjan newsroom + 225 21 90 90","Foreign Minister PERSON defended PERSON's new policy of summarily executing alleged criminals, saying it was justified because the country's courts systematically freed wrongdoers.
Human rights groups say scores of NORP have already been executed by security forces, including CARDINAL people shot in public on EVENT.
""The policy has worked. We no longer see the levels of violence before it was introduced,"" PERSON told ORG in an interview in the capital ORG on DATE.
His comments were the most senior official confirmation of a decree issued by President PERSON. An order to police commands in the country to forget the courts when dealing with criminals caught in the act was leaked to reporters DATE.
""It came to force around DATE,"" PERSON said. ""If you want to know how effective it has been, ask a white woman in the market. Before they couldn't even go there without being attacked for their jewellery.""
PERSON justified the policy, saying the courts were corrupt and systematically freed criminals.
Insecurity is a major problem in GPE, which was gripped by civil war or conflict with GPE for DATE until DATE. The vast but largely desert country also borders the volatile states of GPE and NORP, with whom it is seeking a common strategy against cross-border banditry.
Kebzabo, a former journalist and close political associate PERSON, dismissed critics who say the shoot-at-sight policy is a gross human rights violation.
""While the situation continued there was no question of human rights for those attacked,"" said PERSON, who heads ORG party.
He said there were no official figures for those executed so far, but he did not directly dispute ORG reports of scores killed.
""Some people, if they heard CARDINAL people had been killed, they would say CARDINAL. There are no figures. But when the ORG makes a statement it is usually pretty true,"" said PERSON, himself a former activist who had brushes with authorities before joining the government.
In CARDINAL crackdown, CARDINAL people accused of theft and banditry were executed at ORG in the southwestern region of ORG on DATE, campaign group PERSON said in a report submitted to ORG on DATE.
""CARDINAL people were arrested on DATE and kept at the PERSON gendarmerie. On DATE they were tied up and executed in a public market in the presence of administrative, political and military authorities,"" said the report signed by PERSON president PERSON.
""Also in GPE, CARDINAL others were arrested and received the same treatment on DATE,"" it added.
A League spokesman said it was not unusual for reports to reach ORG DATE late because of poor communications.
A DATE ORG report listed some of the people killed since DATE, including a pregnant woman, streetchildren and suspected thieves.
""A docker accused of breaking into an empty container was executed in the market. The shooting caused CARDINAL pregnant woman at the scene to miscarry under emotional shock,"" it said.
""It is quite open but the total numbers killed are not,"" an aid worker said. ""We are called out to scenes of executions and we talk with relatives of those killed.""
Many ordinary Chadians interviewed about the shoot-to-kill policy said they initially supported it because of rampant crime but that they now feared it could get out of hand.",1
"PERSON, chief executive of brewer to leisure group ORG, said the company is seeing fairly strong growth in consumer spending on leisure.
Jarvis said although consumer spending has been positive for DATE, it was masked somewhat by expenditure on ORG which took out QUANTITY from the economy DATE, equal to PERCENT of total leisure spending in GPE.
""So all of the natural growth there would have been DATE was missing,"" he told ORG in an interview.  
""So the feelgood factor was not there and the main reason was the diversion of expenditure into the ORG. But the comparables now don't have the NORP effect in and we have got back into quite strong growth in leisure expenditure,"" he said.
The improvement was evident across all areas of its activity although PERSON was especially encouraged by the hotels business.
""The hotel market in this country is very buoyant. The growth in expenditure in hotels far outstrips growth in new accomodation. And that is about more travel, more tourism, more retired people, more affluent retired people.""  
ORG acquired health and sports club group PERSON for CARDINAL stg and a chain of CARDINAL Marriot hotels in GPE for CARDINAL DATE.
""We are making very good progress in our hotel business. Our profits are substantially ahead of DATE and our customers are recognising the improvements that have been made to our hotels through joining up with LOC,"" he said.
""The performance of the LOC hotels we bought has improved against DATE as well as the performance of ORG hotels that have been transferred to LOC.""  
ORG opened CARDINAL new budget hotels called PRODUCT during DATE and PERSON said they this part of the hotels arm was performing well. ""The occupancy levels we are getting in our budget hotels now are higher than they have ever been since we started out in this business,"" PERSON said.
He said the ORG company would contribute substantially to the earnings of ORG, even after interest payments.
""If we paid CARDINAL for LOC, and you can work out the interest, I am saying we will make many CARDINAL beyond that in DATE. And this is DATE we have had Marriot,"" he said.  
""DATE PERSON will be in that kind of position and I think that NORP will be as well,"" he added.
ORG announced an agreed 133 million stg bid for ORG of cafes in the GPE in DATE.
""DATE if you take Marriot and you take our WORK_OF_ART we will make broadly as much money in hotels as we make in beer,"" PERSON said.
The beer company reported operating profit of CARDINAL stg in CARDINAL, a rise of CARDINAL on DATE, but PERCENT of the company's total operating profit.  
ORG's restaurants and inns division, which includes NORP hotels, reported trading profit of CARDINAL up from CARDINAL.
The company is due to report DATE results on DATE.","NORP oil and gas companies are being snapped up by foreign companies with an eye for undervalued stocks, but analysts say the sector faces a bright future with higher oil prices and a deregulated gas market.
During DATE, there has been MONEY (MONEY) worth of takeovers announced in GPE's shrinking oil and gas sector and another MONEY worth of asset sales as some non-oil and gas players quit the local market.
Local oil groups with low share prices and overseas assets have struck the eye of hungry foreign companies, analysts said.
""Overseas people appreciate the value of oil and gas assets, particularly in southeast LOC, but I don't think the market is fully valuing these assets through the share prices,"" Timothy Savage, an oil and gas analyst at PERSON, told ORG.
The MONEY tilt by GPE oil giant ORG for GPE-based ORG in DATE was the largest bid made DATE in the sector, while NORP oil producers are also showing an active interest in NORP oil firms.
Brisbane-based PRODUCT was taken over DATE by ORG of the GPE, while in DATE Premier PERSON has made a bid for ORG and ORG has made a offer for ORG
Most of the NORP oil groups that have attracted predator attention have been producers with oil assets offshore, said PERSON, an oil and gas analyst with ORG.
""It is no coincidence at all that the companies that have disappeared have been always companies that have endeavoured to build an overseas presence, and they have all without exception been taken over,"" PERSON told ORG.
However the rise in the oil price DATE had not been a reason for the corporate activity, analysts said. The main oil futures contract traded in GPE has risen PERCENT over DATE to MONEY a barrel.
""Takeovers have been a feature of this sector for DATE and it doesn't seem to matter if the oil price is up or down,"" PERSON said.
PERSON said oil companies making the bids have a double positive effect from the oil price rise with increased cash flow and a boost in share prices making it easier for companies to raise equity and debt.
Remaining potential targets in the local oil and gas sector were medium sized groups like ORG and Petroz NL which have assets in the prospective LOC area.
The sector's largest listed companies, ORG, were unlikely bid targets, analysts said. Woodside, which accounts for PERCENT of the MONEY sector, is controlled by NORP-Dutch oil giant ORG.
Santos is seen to have a restrictive share ownership structure making it difficult for takeovers, analysts said.
GPE has also been keen on purchases, buying MONEY worth of oil assets DATE from groups quitting the sector.
Takeover activity has raised the focus on the sector, particularly in gas exploration and development, analysts said.
They said reforms in the local gas industry has opened up opportunities for gas supplies to major mines in remote areas and the set up of co-generation projects around the country.
""There is a lot of money coming over here and finding their way into all sorts of corners of the industry. So it looks like it is going to be a fairly buoyant period again, irrespective of whether we have further takeovers ahead,"" PERSON said.
(A$MONEY = $MONEY)",0
"ORG said on DATE its ORG pay-television venture was considering whether to continue to support ORG (ORG) after its court defeat against ORG DATE.
""The decision we have to make is how long we continue to support that, and I think right now our people and Channel Nine people would be talking about those issues,"" ORG chairman PERSON told ORG.
Fynmore did not elaborate but said the ultimate fate of the ORG or its News-backed rival GPE would be decided by the financial backing for the leagues.
""This is really for the ORG and GPE to determine and in the end it will determined on how much financial support there is for both leagues,"" Fynmore said.
ORG, PERCENT-owned by NORP magnate PERSON ORG (PBL), owns the pay-television broadcast rights to the ORG. ORG's ORG has the free-to-air broadcast rights to ORG.
The ORG suffered a major reversal of fortunes DATE before the full bench of ORG, which unanimously upheld News' appeal against previous rulings banning GPE till DATE.
Superleague is preparing to kick off its competition DATE, creating the prospect of CARDINAL rival leagues fighting for TV audience share in DATE unless a compromise is reached.
Earlier on DATE, ORG executive chairman PERSON said the company's door was open to talks with the ORG.
""You have always got to keep your door open...,"" Cowley told reporters in GPE.
""We want to maximise the number of fans watching Superleague and so we will be doing the best we can for the fans and the clubs and the players,"" he added.
He dismissed suggestions, published on DATE in ORG The NORP newspaper, that ORG chairman PERSON could step aside to facilitate a merger of the CARDINAL leagues.
""The statement by PERSON suggesting he might fall on his sword is rather a curious reaction,"" ORG said.
""He has no authority in the ORG -- he hasn't had for DATE. He cannot make any decisions of any consequences regarding to the game, and particularly to GPE, without the approval of PERSON.""
-- GPE bureau CARDINAL","Major NORP banks have blown the dust off their NORP strategies and are moving quickly into the region as life gets tough at home.
CARDINAL of GPE's biggest banks have publicly renewed their NORP ambitions in DATE as competition hots up for the local market and earnings begin to suffer. ""It's now you are starting to see them push a bit harder into LOC,"" said GPE-based banking analyst PERSON, of credit rating agency ORG.
All of GPE's CARDINAL big banks are now pursuing opportunities for interest and fee income in the rapidly growing markets of LOC, quietly urged on by the nation's central bank.
Their uniform embrace of LOC comes as CARDINAL of GPE's biggest life insurers, ORG and ORG, also boost their NORP profiles. DATE, ORG bought out its NORP joint venture for MONEY.
But LOC has not always commanded such uniform priority among GPE's financial institutions.
CENTRAL BANK UNHAPPY
DATE, ORG (ORG) expressed disappointment that local banks were not seizing more opportunities to expand into LOC. At that time, the GPE and ORG (ANZ) was the only exception.
ORG has long been GPE's most LOC-focused bank, with a retail network throughout GPE and operations in CARDINAL other countries, most of them within the region.
In contrast, the most profitable bank, ORG (NAB), has focused in DATE on GPE and LOC. ORG virtually withdrew from LOC three and a half years ago to focus on home markets.
For DATE after the free-wheeling DATE hit a wall of bad debts in GPE, banks had put expansion plans on hold and NORP strategies gathered dust as they repaired balance sheets.
But since DATE, talk of LOC is again on bankers' lips as interest margins contract in a tight local market where banks and non-bank institutions encroach on each other's turf. ALL EYES ON ASIA
Westpac bounced back into LOC DATE, announcing an alliance with NORP-based ORG to provide select NORP banking services to ORG clients.
The venture will focus primarily on GPE, GPE, GPE, GPE and GPE, before expanding into GPE and GPE, said ORG.
NAB, which owns regional banks in GPE, GPE and GPE, is also now looking for a partner in LOC.
""We've looked at a few (alliances) with banks and other institutions...It takes time to pull these things off,"" NAB managing director PERSON told reporters DATE.
GPE's ORDINAL big bank, ORG (ORG), also chimed in DATE. It said it too would expand its NORP activities and was looking for joint-venture partners in ORG.
""Certainly the competition in the domestic market is extremely tough,"" S&P's ORG told ORG, adding he expected NORP banks' local asset quality and earnings to deteriorate.
""One of the ways to offset this is diversifaction...CARDINAL way they are trying to diversify is to go offshore and I think that's a prudent strategy, but it has its risks,"" he added.
SMALL FISH, ORG
NORP banks, minnows compared with the regional might of banks like GPE and ORG, are likely to use geography and trade links to make their mark in LOC.
""They are small in size but the NORP banks do bring a lot of expertise. They are headquartered in the region, so they benefit from that and GPE is a major trading partner with a lot of these countries,"" ORG said.
""NORP banks are pretty well placed to piggy-back on the back of that. I think they will do quite well.""
GPE's central bank cleary hopes so, declaring that ""momentum for involvement in LOC has now clearly re-emerged"".
""The banks' focus has tended to be on the provision of trade finance and treasury services to corporates, although their retail activities in LOC are increasing,"" the ORG said in a written response to a parliamentary committee recently.
NORP banks' largest operations are in GPE, GPE and GPE, but they are fanning out, it said.
They are now eyeing opportunities in GPE, GPE, GPE, GPE, GPE and GPE as these nations open up their banking sectors to foreign entrants, the ORG said.",1
"Prime Minister PERSON, in his dual role as economics professor, said on DATE the large NORP foreign trade deficit came from a temporary investment wave, and he forecast a perpetual, but smaller trade gap.
Lecturing a packed assembly hall at ORG, ORG, a freshly-accredited professor of economics, said the record CARDINAL crown trade deficit in DATE was ""not tragic"".
""It would be correct to discuss the current account, or the whole payment balance, and not just the trade balance... due to a number of structural phenomena,"" ORG said.
""GPE will probably not have a positive trade balance in the long term, ever,"" he added.
ORG said the current trade deficit was ""the temporary above-average rate of investment.""
He said the investment boom would ease, leading to a narrowing in the differential with savings, but a lack of natural resources, the structure of the NORP economy, and its geographical position would perpetuate a trade deficit.
In DATE, imports rose by a nominal PERCENT, DATE, to MONEY crowns, while exports climbed PERCENT to PERCENT.
ORG forecast DATE that the foreign trade deficit would reach CARDINAL crowns for DATE, up from MONEY crowns DATE.
The current account deficit stood at MONEY crowns, or PERCENT of gross domestic product (GDP) in DATE, and the ORG foreacsts it to reach PERCENT of GDP for DATE, and PERCENT of GDP DATE.
Klaus repeated his long-held objection to a devaluation of the NORP crown, saying it would not help much as exports ""are not a straight function of the exchange rate"".
He also criticised export lobbyists' calls for an import surcharge and higher tariffs, and blasted moves to ""Buy NORP"", saying each country should use its comparative advantages in production and cannot make everything itself.
Klaus said his government's aim was to stop an acceleration in the deficit, and then to start lowering it. He said the increase could be stopped by DATE.
There is no theory on what is the maximum-bearable deficit of the current account, as a percentage of GDP, ORG said.
He said that GPE had more than sufficient foreign exchange reserves cover the gap. The NORP central bank said official reserves totalled MONEY at DATE, with gross banking-sector reserves at MONEY.
Answering a student's question on export structure, ORG said that exports of high-added-value goods would help the overall trade balance, but such technology would take time to develop.
""How high can you jump? QUANTITY thirty? It would be better if you could jump DATE.... But you can't do that straight away, you need to train it,"" ORG said.
With practise ""maybe you'll get to QUANTITY in a DATE's time,"" he said.
-- Prague PRODUCT, CARDINAL-2-2423-0003","The ORDINAL large merger between insurance brokers in the space of a week highlights the dilemma many in the industry face over how to counter overcapacity and increasing competition, analysts said on DATE.
The latest move, a QUANTITY (MONEY) merger between GPE's ORG and ORG comes hard on the heels of DATE MONEY acquisition of GPE ORGamp; ORG (A&A) by GPE broking giant ORG
Different in scale, the CARDINAL deals are also very different in motivation but both point to a clear trend in the sector -- consolidation.
Vast overcapacity in broking has left the industry struggling in DATE.
The ORG/A&A deal was driven by a desire to attack costs, increasingly seen as one of the few ways forward for an industry beset by falling rates and declining revenues.
But the merger of PERSON and ORG to create ORG is different. It has not been prompted by a search for cost savings but by an effort to release the benefits from the CARDINAL companies' ""complementary"" businesses.
Cost savings will be restricted largely to the companies' GPE operations and the opportunities to build upon each others existing businesses, particularly in LOC, will be the main drive in future growth, according to PERSON chief executive PERSON.
However, elsewhere in the sector the need to find ways of offsetting the pressure on rates by stripping out costs, like PERSON, has raised the prospect of further deals to come.
Rumours that Aon or ORGamp; PERSON were about to launch a takeover bid for NORP-based broker ORG swept the insurance markets on DATE.
Such rumours are fuelled by the the hand-in-glove nature of the business, say analysts.
""The brokers are constantly in discussions about mergers; they chat all the time. And one is always surprised by seeing the industry bash on, trying to purge overcapacity through consolidation,"" said CARDINAL analyst.
One of the main problems with any merger between brokerages is defection of staff. Another is the diminishing number of would-be predators.
While PERSON refused to comment on DATE's ORG rumours, a spokeswoman for the company did point out the need to ""digest"" its most recent prurchases.
The newly merged ORG will be positioned between global brokers such as GPE's GPE and PERSON and smaller niche brokers such as PERSON and ORG. It is also likely to leave them in something of a dilemma.
As the number of more obvious deals are done, the pressure on those remaining to come up with a means of remaining competitive is likely to rise. Mergers or acquisitions may, however, become less attractive as the more logical tie-ups in the sector are done, leaving those left with fewer options.
""Brokers are all cutting costs but if rates continue to fall, they'll all be cutting back to keep up with the revenue stream coming down. There has to be a huge shock to the industry which will take out a few of the players. Until that happens brokerage isn't going anywhere,"" said CARDINAL analyst.
-- GPE PRODUCT +44 CARDINAL 7721 ($ = 0.602 GPE)",0
"GPE's ORG said on DATE it was unable to advise shareholders what action to take on a renewed bid offer from ORG until it had heard from rival suitor ORG.
""What we will now need to do is to see if we can ascertain PERSON's intentions,"" finance director PERSON said in an interview.
Both ORG's original bid for the pharmacy chain and a rival offer from NORP pharmaceutical wholesaler ORG lapsed in DATE after being referred to GPE's ORG because of competition fears.
""We have no comment at this stage. We need to meet as a board and we clearly need to have some correspondence with our shareholders. We have not yet resolved what recommendations to make,"" PERSON said.
""I would hope to make an announcement in DATE.""
News of ORG's renewed offer sent ORG shares to a record high of CARDINAL, before slipping back to NORP, up CARDINAL-1/2p on DATE. ORG shares fell CARDINAL to CARDINAL. Gehe shares trading in GPE were off MONEY at MONEY.
Gehe, whose lapsed offer was an all cash bid pitched at MONEY per share, said it planned an announcement TIME the day.
ORG, which already owns PERCENT of ORG, is offering CARDINAL new ORG shares and PRODUCT in cash for every CARDINAL ORG shares. That values the company at MONEY (MONEY).
ORG also said it had identified cost savings and revenue benefits ""conservatively"" estimated at MONEY in DATE after an acquisition and in excess of MONEY a year thereafter.
As well as cost-savings ORG said the acquisition would enable faster development of its retail pharmacy business and be earnings enhancing after DATE.
""We believe that our extensive retail expertise, together with our unparalleled pharmaceutical wholesale distribution capabilities, will greatly enhance both businesses,"" said PERSON, chief executive of ORG.
The offer was announced shortly after GPE's ORG (ORG) cleared the way for a takeover of ORG, providing ORG and ORG fulfill promises to sell off certain parts of ORG.
""ORG and ORG have each identified a number of potential firm buyers for the businesses they are required to divest. These have been approved by the minister,"" said the ORG.
If either ORG or PERSON are successful in acquiring ORG, they must sell off specified ORG' wholesale businesses within DATE of the completed merger, the department said.
ORG, owns the ORDINAL largest chain of retail pharmacies in GPE with more than 900 outlets. ORG is CARDINAL of the CARDINAL largest wholesalers of pharmaceutical products in GPE and also owns a chaon of some CARDINAL retail pharmacies.
Gehe, LOC's largest drug distributor, is keen to expand its pharmaceutical retail business in GPE which it entered with the acquisition of ORG in DATE. ($MONEY Pound)","ORG decision to name outsider PERSON as heir to Chairman and Chief Executive PERSON boils down to a basic gamble the company believes it must take to prepare for the torrent of competition ahead.
The nation's largest phone company rejected the standard telecoms pedigree shared by most top executives in the industry -- including PERSON -- in favor of a more general set of business leadership skills PERSON has demonstrated.  
DATE, ORG said PERSON, until recently the chief executive of commercial printer ORGamp; PERSON, would replace PERSON as CEO and chairman in DATE.
""The magnitude of the challenge has got to be at least of the same magnitude as the one that ORG faced,"" said PERSON, a top corporate turnaround consultant and author of a forthcoming book of case studies called, ""WORK_OF_ART.""
But analysts who followed his tenure at ORG credited PERSON with being a tough-minded visionary who successfully guided the expansion of his commercial publishing firm into a computer-savvy marketing services firm.  
""Walter understands how to run a business and make money,"" said PERSON, president of ORG, a GPE, D.C.-based technology consulting firm.
At Donnelley, he closed businesses which could not carry their own weight. DATE PERSON spun off direct mailer PERSON and is planning the spinoff of ORG, a provider of information management services to large law firms and investment bank.
This crucible of experience will come in handy for PERSON at ORG as the giant company undergoes a similarly wrenching business and technology transition, but on a massive scale.  
PERSON is certainly not without his critics on Wall Street. Financial analysts must be convinced he can scale his PERSON lessons upward to address MONEY-a-year ORG had DATE revenues of MONEY.
DATE, SBC GPE analyst PERSON cut his rating on ORG to hold from buy, citing disappointment about the naming of PERSON to lead the company. ""In our view what was needed was a fresh face with a high-tech resume,"" he said.
Donnelley's growth came at a price, other analysts added, noting how despite PERSON's visionary style the publisher struggled with falling earnings and restructuring issues.  
""A lot of things have been going wrong,"" said CARDINAL analyst, citing the lower earnings outlook and falling stock price. The stock price has performed listlessly recently, trading near its DATE lows. The stock DATE was at CARDINAL, up CARDINAL.
Still, several analysts classified PERSON among the new breed of top technology managers who earn their stripes as sophisticated consumers of technology but who know how to delegate decisions about the nuts and bolts of technology.  
Perhaps the most famous example of this type is an executive like PERSON, who joined ORG in DATE from consumer products distributor ORG and was with ORG prior to that.
""Maybe you don't actually have to have a guy who has time to get his hands dirty,"" Dzubeck said.
""I think the operating issues, the strategic issues become paramount,"" he said, while technology strategy can best be left to ORDINAL and ORDINAL-tier managers.
Other outsiders who have become the top-guns at successful technology companies include PERSON of ORG, the former chief information officer of air freight forwarder ORG
Another example would be PERSON, the man PERSON has initially been hired to replace as ORDINAL-in-command at ORG, following ORG's departure in DATE to join a wireless communications venture of ORG
Before joining ORG in DATE, ORG headed ORG.
""He's transformed a large, old-line company challenged by new technologies and changing markets into a tough global competitor,"" said PERSON in a statement. ""Meeting those challenges is what leading the 'new' AT&T is all about.""",0
"State-owned ORG on DATE reported dramatically improved earnings of MONEY (MONEY) in DATE and placed a bumper order for CARDINAL ORG and ORG aircraft, plus options.
The profit estimate for DATE, which emerged in an ORG board statement, compared with a loss of MONEY DATE.
The improved results and ORG aim to break even in CARDINAL was underlined with orders for CARDINAL ORG PRODUCT  twinjets, and options for CARDINAL more. The airline also ordered CARDINAL ORG, confirmed CARDINAL orders made in DATE and options for a further CARDINAL.
ORG chairman PERSON won vital support from Prime Minister PERSON to buy from GPE-based ORG instead of ordering solely from its archrival ORG, the NORP consortium based in southwest GPE.
At catalogue prices, which are rarely paid, the orders and options for the ORG PRODUCT version ordered could be worth MONEY. ORG would stand to gain MONEY.
List prices for the B777-CARDINAL range MONEY, while the ORG PRODUCT costs $110 to MONEY.
""In the reorganisation of its fleet, ORG is obliged to buy ORG,"" Transport Minister PERSON told parliament.
""It is obliged to meet commitments made in DATE, unless it accepts losing deposits and taking legal action which risks being much more expensive than taking this decision.""
The NORP airline had orders outstanding with ORG worth MONEY and MONEY of options, PERSON said, adding that the airline had skillfully negotiated the latest order to respect the initial undertaking.
The CARDINAL state representatives on the ORG board approved the ORG CARDINAL purchase ""not because they are the best or the most profitable but because they best meet the company's needs,"" PERSON said.
ORG had also accepted to be a launch customer for the planned A340-600, a ""stretched"" version of the A340, he said.
ORG hopes to build the CARDINAL-seater to smash ORG's monopoly at the large capacity aircraft segment.
ORG said that due to financial problems, it froze at DATE all aircraft orders, including the DATE ORG order, and opened talks with the CARDINAL plane-makers.
ORG has since rationalised its fleet, restructured its network around a centralised ""hub"" at GPE PERSON airport and optimised aircraft use. It has over DATE increased the number of flying hours by PERCENT.
Pons welcomed ORG financial results, saying: ""The results are very encouraging.""
The company said it made its profit despite a rise in spending on fuel of MONEY for the period.
Turnover was up PERCENT to MONEY due to a PERCENT increase in passenger traffic and a PERCENT rise in freight.
Operating profit rose PERCENT to MONEY, compared with CARDINAL in DATE period. The pretax, pre-exceptional result tripled to MONEY.
ORG was ahead by ""a little more than 250 million francs of its budget"" at DATE stage, the company said. DATE is traditionally better for seasonal reasons and should not be used to extrapolate for DATE, it added.
Debt stood at MONEY at DATE, versus MONEY at DATE. The repayment of MONEY significantly exceeded the last tranche of its state recapitalisation paid in DATE.
The ORG order consists of the heavier ""Increased Gross Weight"" version of the basic CARDINAL, equipped with PRODUCT engines built by ORG and GPE's ORG. The B777-200 will seat CARDINAL passengers in CARDINAL-classes.
The ORG order is for the A340-200E version equipped with CFM56-5C4 engines. ($MONEY French Franc)","The NORP ORG consortium said on DATE it was confidently pressing ahead with studies on a CARDINAL-seat passenger plane despite a decision by archrival ORG to scale back work on a larger jumbo jet.
ORG on DATE said market conditions did not justify the risk and expense of building a new version of its PRODUCT jumbo jet, the PRODUCT, and it was diverting CARDINAL the CARDINAL staff on that project to smaller planes.
""We are confident the PRODUCT will meet market needs,"" an ORG spokesman said. ""The signs from major airlines working with us on shaping the LOC are definitely encouraging.""
ORG, ever quick to seize on any perceived gaps in ORG's armour, says airlines want an all-new plane rather than ORG's PRODUCT, which the ORG spokesman said was the ""end of the line for a product developed in DATE"".
""Airlines want to fly into DATE facing forward, not backwards,"" the spokesman added.
ORG must attack ORG's monopoly on the large-capacity segment and is studying designs for an A3XX product family which it hopes to launch in DATE for service in DATE.
It wants to grab CARDINAL of the aircraft market by DATE, up from its estimated historic share of PERCENT. But it lacks large planes to compete with ORG's CARDINAL giant twinjet and the best-selling PRODUCT jumbo.
The CARDINAL-nation consortium differs with ORG over the potential market and development costs for a new large plane.
ORG forecasts a market of CARDINAL planes seating CARDINAL passengers over DATE, while ORG believes demand would only stretch to CARDINAL planes seating CARDINAL or more, which would not allow it to get a return on its money.
A basic A3XX would cost MONEY, giving potential sales worth MONEY on the ORG forecast.
""A split market would have been a big challenge for CARDINAL manufacturers but now ORG is opting out, that enhances our prospects,"" the ORG spokesman said.
ORG accepts the view that the market will fragment further as people want to fly more frequently, non-stop, long distance between city pairs.
The ""fragmentation"" effect was one of the factors cited by ORG for cutting demand for larger planes and reducing the importance of big airport hubs.
But ORG believes it will meet that market change with its A340 long-haul plane and that the A3XX will co-exist.
Saturation of air routes and airport landing slots calls for higher capacity planes, it argues. Countering critics who point to already lengthy waits at airports, it says its A3XX designs would allow a quicker passenger turnaround than the jumbo.
ORG is talking to CARDINAL leading airlines on what the plane should offer and is confident that it can match or better the airlines' operating demands. These include fitting within an QUANTITY ""box"" at the airport terminal.
It is officially sticking to its estimated MONEY development cost for the LOC, despite scepticism among some experts that it cannot be done for MONEY.
ORG is a consortium made up of NORP state-owned ORG, ORG, ORG (part of ORG) and ORG of GPE.",1
"PERSON, best known in GPE as ORG chairman, has the GPE food group slimming down while beefing up his family's ORG of GPE.
Independent, an acquisitive, fast-growing company that is PERCENT owned by ORG and his family, competes in deals and markets with such international media figures as PERSON of ORG
ORG name came up DATE in GPE markets as the rumoured buyer of ORG PERCENT stake in GPE's ORG for MONEY.
While O'Reilly knocked down deal speculation on the ORG, a leading NORP DATE in which his firm already has a PERCENT holding, he hinted in an interview that he has an eye on buying into leading NORP publisher ORG
""The situation there is fluid, very interesting,"" PERSON said. ""You can just say the PERSON are looking on with interest.""
Since DATE, when the former rugby star and food industry executive bought into GPE, the company has steadily expanded and sells PERCENT of GPE's nationally distributed newspapers.
Independent also has radio partnerships and controlling shares of leading newspaper businesses in GPE and GPE and a NORP billboard company.
Financial performance has been very strong, with the stock market value of ORG rising a heady sixfold in DATE.
In GPE, the headquarters of ORG, the drill is largely different.
O'Reilly, in the telephone interview from GPE, said the food company he has run since DATE was in deal talks with prospective buyers and would sell substantial businesses by DATE.
""By DATE, the businesses will have a leaner focus,"" he said.
O'Reilly declined to identify the businesses on the auction block or estimate how much cash the properties would bring ORG, which dominates in canned tuna, ketchup and other segments.
""If I tell you, that's where the bargaining will start,"" PERSON said. He said ORG was in contact with CARDINAL potential buyers.
The executive said ORG will trim down to CARDINAL business clusters: food-service products, pet food, infant formula outside GPE, condiments, ketchup, and weight-loss services and products.
CARDINAL to CARDINAL of ORG businesses covering CARDINAL of products are estimated to be outside those areas.
""The buzz word now is focus,"" O'Reilly said.
Acquisitions at ORG, known for its ORG services and brands such as CARDINAL Lives pet food, are not ruled out. The company, in fact, just broke off talks aimed at acquiring some assets of PERSON, a competitor to its NORP line of canned tuna. ORG is also digesting a large pet-food acquisition it made from ORG.
Beyond being known as a newspaper baron outside LOC, ORG has interests in other NORP firms. Another he leads as chairman, NORP crystal and china firm PERSON, DATE agreed to buy PERCENT of a NORP porcelain group ORG.
O'Reilly, DATE, is widely regarded as GPE's richest man and appears close to being, if not already, GPE's only billionaire, associates said.","NORP business tycoon PERSON on DATE lost an appeal in the ORG against the transfer of documents to NORP authorities investigating allegations of fraud and false accounting.
GPE's ORG seized 15 bags of documents in DATE from the office of GPE lawyer PERSON who represents the interests of former NORP Prime Minister PERSON in GPE.
The judges, Lord Justice PERSON and Mr Justice Gage, rejected all the grounds of the appeal, but PERSON agreed to hear an application by the appellants on DATE TIME, which could lead to an appeal to ORG, although legal sources said this was unlikely to succeed.
The hearing stemmed from an appeal by PERSON, who was NORP Prime Minister for DATE in DATE and is on trial in GPE on corruption charges, his company ORG and company president PERSON against a court ruling DATE that the papers should be sent to GPE.
PERSON said the papers were linked to fraud and false accounting allegations amounting to MONEY (MONEY) which had been ""surreptitiously removed from ORG and used for criminal purposes.""
He noted that prosecutions were already underway in GPE against Berlusconi for bribing Revenue inspectors and for making illicit donations to former Prime Minister PERSON.
NORP investigators suspect Berlusconi who, among other holdings, owns CARDINAL TV channels and the football club ORG, may have used offshore companies to channel payments to politicians.
At the end of his judgement PERSON pointed out that, ""It is imperative to recognise, however, that none of the applicants has yet been convicted of anything and that nothing I have said should be thought to raise the least presumption of guilt against them.""
He rejected all the grounds of the appeal on the basis that the NORP request was not too wide, that it was justified and that the offences in question were not ""political"".
One of the grounds of appeal had been that the ORG had gone to Berlusconi's lawyer's office on a ""fishing expedition"" -- an unspecific search -- which is illegal under NORP law.
Brown described the case as a ""wide-ranging, multi-faceted, international fraud involving far-reaching allegations against a large number of individuals in connection with an even larger number of companies.""
The ORG said it was ""happy"" with the ruling.
""The ORG's fight against fraud on an international level has been strengthened by this welcome judgement,"" it said in a statement.
The ORG said the judges had rejected all of the main arguments put forward by the appellants. ""We look forward to the speedy transfer of the documents to GPE so that the investigators can get on with their job,"" it said.
A hearing on DATE will decide whether PERSON can appeal against DATE's ruling to ORG.
ORG senior assistant director PERSON said the judges in the current hearing were aware that, if any ORG hearing did not take place until DATE, this would mean the papers would arrive too late to be used in NORP proceedings.
He said that if the appellants were not given leave to appeal on DATE he expected the papers to be transferred immediately, although this was a decision for ORG.
($MONEY Pound)",0
"PERSON, the chairman of travel group PERSON who dropped out of bidding for NORP regional airline ORG, is planning to buy airline ORG and expects formal talks to start in DATE.
""I have had several talks with ORG executives and we have started to exchange information,"" ORG said. ""We have not talked about a price or anything. There is an old valuation by bank PERSON and I have asked bank ORG to look at the company,"" he told ORG by telephone.
AOM, created in DATE by the merger of PRODUCT and NORP, is owned by ORG (CDR), a state entity charged with selling former assets of the ORG bank.
ORG announced on DATE he had withdrawn from talks on the rescue ORG, in administration since DATE, because of the size of the financial commitment required.
A MONEY (MONEY) bid by ORG Plc NORP ORG unit and bank PERSON is now the only remaining CARDINAL on the table and expected to be approved by the ORG commercial court on DATE.
ORG had planned to buy ORG with the help of ORG, the NORP national airline, holiday resorts group PERSON and Rivaud.
In a ORDINAL stage he had planned to enlarge his consortium to acquire ORG and merge it with ORG in a big NORP private company to rival the state-owned ORG group.
""ORDINAL there will be talks between ORG and PERSON, then we will start official talks with ORG,"" ORG said.
""Because ORG is part of the state there have to be discussions with ORG) and the privatisation commission,"" he added.
ORG said GPE had put a value of MONEY on ORG but he noted the study was a bit outdated as much had changed in the market since.
A spokesman for the ORG confirmed that there had been informal contacts with ORG but no formal sale procedure had been started.
""We have had informal contacts,"" PERSON, spokesman at the ORG told ORG. ""But we have not started a sale procedure, which is a very strict procedure,"" he added.
""The financial situation at ORG is better than at many other airlines,"" he said. ORG would only decide to start a sale procedure for ORG ""When we feel that the time is ripe.""
""We always planned to sell ORG at the time of the liberalisation of NORP airspace (in DATE),"" Raingeard said.
""What we need now is a period of calm. A lot has happened recently and at a quick pace. We need to wait DATE to see the new lie of the land,"" he said.
DATE, ORG chairman PERSON had been in talks with ORG chairman and founder ORG about a merger. But the deteriorating financial situation at ORG led to a break-up of talks.
A spokeswoman for ORG said the company would now go it alone.""There's ORG, ORG and us. We have PERCENT of slots at Orly and we will go it alone,"" she said.","ORG on DATE launched its bid to become the main rival to state-owned ORG with the start a fixed telephone network in DATE in the southern city of GPE.
PERSON, managing director of ORG's telecoms unit ORG, said the group aims to have a market share in DATE yielding MONEY (MONEY) in DATE sales, of which CARDINAL would come from mobile communications.
In mobile telecommunications, ORG already competes with ORG with its SFR unit and it is allied to ORG and ORG for business services.
SFR expects to have CARDINAL customers by DATE, ORG said.
The local residential market is expected to grow at a moderate pace but nevertheless represent MONEY in DATE.
ORG said he aimed at gaining a PERCENT share in mobiles, PERCENT in long-distance and PERCENT for so-called local loops, or small networks.
Cegetel, which counts ORG, ORG and SBC of GPE among its owners, has received permission from the NORP authorities for a telecoms experiment in GPE and from DATE it will offer residential telecoms services, using the ORG technology.
DECT, digitally-enhanced cordless telephone, uses radio waves to connect buildings to a telephone switch, while the connections inside the building are of the classical type using a telephone socket.
DECT is also available in totally wireless versions but the GPE experiment will not use this. DECT can handle high capacities and is relatively secure as far as privacy of calls is concerned.
ORG said that GPE was the precursor of ORG's assault on ORG and the company would invest MONEY in GPE and GPE to hone its skills ahead of market liberalisation in DATE. The GPE service is expected to be ready in DATE.
Cegetel is aiming to start its business in CARDINAL towns which will add up to a population of CARDINAL inhabitants.
To part finance this DATE plan, ORG shareholders will inject MONEY into the company at DATE.
In business services, ORG is considering putting a local loop in the ORG office complex on the GPE outskirts -- where parent ORG is the main building developer.
In that area, ORG already offers business services with a local loop in competition to ORG.
ORG said that the success of ORG, or any other rival to ORG in GPE, depended to a large extent on the interconnection costs and other payments telecom operators have to make to ORG to use its installations.
Telecommunications minister PERSON has started a wide consultation, set to end on DATE, in order to establish in DATE a price list of the services France Telecom can provide to its rivals.
""The level of the interconnection costs for us means either the right to live of the right to die,"" ORG said.
Other future rivals for ORG are building and communications group ORG which has teamed up with GPE's STET. ORG started GPE's ORDINAL mobile telecommunications service DATE.
AT&T has also expressed a desire to become a major force in the NORP market.",1
"ORG, the No. CARDINAL long distance phone company, said DATE it was in talks to be acquired by ORG in what would be one of the biggest mergers ever.
Industry analysts said that if a deal emerges, it would send shudders throughout the worldwide telecommunications industry, and present an especially tough challenge for ORG, the leading -- but struggling -- GPE phone company.
NORP Telecom already holds a PERCENT stake in ORG.
No price has yet been agreed upon, a source close to the deal said, but analysts were speculating on $MONEY a share, which would value ORG at MONEY, and leave NORP Telecom with a bill for MONEY for PERCENT of the company it does not already own.
GPE-based ORG said it expected the talks to be concluded DATE, although it noted that there were no guarantees an agreement would be reached. ""ORG anticipates that its deliberations will be concluded DATE and an announcement will be made prior to DATE TIME,"" it said.
Analysts said a combination of the CARDINAL companies would be a good fit in the super-competitive GPE long distance phone industry, where ORG and No. CARDINAL ORG have been battling an ailing ORG
""This is ORG worst nightmare. (AT&T Chief Executive) PERSON will not get a wink of sleep DATE,"" said consultant PERSON, of ORG.
""This is an extremely competitive business, and horizontal mergers like this make sense,"" said PERSON, chief economist at ORG. ""The economies of scale in this case could be considerable, and the leverage in terms of potential profits is high ... It would be good purchase.""
A spokesman for ORG confirmed the NORP company was interested in a merger with ORG.
A NORP Telecom-ORG deal would be the largest between a NORP and NORP company, and it would rank as the ORDINAL-biggest ever involving a GPE company, behind the ORG buyout by PERSONamp; Co., worth MONEY including debt, according to ORG.
NORP Telecom is aiming to offer a mixture of cash and stock for PERCENT of ORG it does not own, CARDINAL source told ORG. The source, who spoke on condition of anonymity, said an announcment was expected on DATE, if not before.
""If it is true, it would have huge implications for the GPE market,"" said analyst PERSON of ORG. ""ORG had taken competition about as far as it could go, and needs an infusion of capital for the next stage,"" he said.
ORG has PERCENT of the MONEY GPE long distance market, compared with PERCENT for NORP But both are also preparing to enter the MONEY local calling market.
""It gives ORG an enormous warchest to attack the local markets and defend itself against the regional Bells in the long distance market,"" said analyst PERSON of ORG.
Analysts said ORG has a very strong balance sheet and free cash flow, which could help fund the coming multi-front marketing war, from wireless, long distance and local calling to satellite TV, Internet and business data services.
NORP Telecom suffered a serious setback in DATE after NORP utility PRODUCT severed links with ORG to join a rival consortium led by GPE's ORGamp; Wireless Plc. to provide service in GPE.
At DATE NORP Telecom signalled its ambitions in the NORP market through a consortium involving ORG.
""It would be a good fit for NORP Telecom and provide a major foothold in this country,"" said PERSON, managing director of ORG and Catherwood.
In GPE, lawyers and analysts said a deal would likely win approval of GPE regulators.
""It appears this deal would pass (ORG) approval at ORDINAL glance,"" said PERSON of ORG ORG.
An ORG rule adopted DATE permits a foreign carrier to invest in a GPE carrier in excess of a PERCENT cap, as long as the overseas company's home market is open for competition from GPE telecommunications companies.
PERSON, a former head of the ORG's international bureau and now an attorney with ORGamp; ORG, said that other than the GPE telecommunications market, the NORP market is the ""most open"" in the world.
ORG was founded in DATE as MICOM, or ORG It was the ORDINAL company to be authorised by ORG to compete against ORG in the domestic long-distance market.
ORG started offering point-to-point private-line service between GPE and GPE in DATE, sold stock and was incorprated as ORG in DATE.
The GPE-based company filed an antitrust suit against ORG in DATE. DATE, a jury ruled in ORG's favour on almost all counts and awarded the company MONEY, providing a warchest to fund its expansion following the DATE decision by ORG and ORG to break up the giant's monopoly on the nation's long distance industry.","DATE as a privatised business have left ORG (BT) leaner and more efficient, with its staff halved -- but with few growth prospects in one of the world's most competitive markets.
Persistent wrangles with industry regulator PERSON over uncompetitive practices have helped depress ORG's relative market performance. Its shares have lagged rivals in the ORG telecoms sector by PERCENT since DATE and the wider ORG All-Share index by PERCENT.
But analysts say the CARDINAL of hopeful investors signing up for the latest NORP telecommunications sell-off -- GPE's MONEY sale of PERCENT of ORG -- have little to fear under a more lenient regulatory regime than that faced by its NORP counterpart.
""The overall spirit of Deutsche PERSON's regulatory regime is supportive,"" says broker ORG in GPE. ""The current regime provides investors with a high level of earnings visibility. It runs until DATE, whereas most NORP regulatory arrangements expire in DATE.""
BT, which ORDINAL stepped onto the privatisation launchpad in DATE, now employs CARDINAL staff and has a gearing level, or debt-to-equity ratio, of PERCENT. Since DATE, CARDINAL jobs have gone. BT LOOKS ABROAD
Ever fiercer competition at home has forced ORG to seek growth abroad. DATE, the company launched an assault on GPE's MONEY a year local telephone market with a MONEY merger with ORG. The deal would create the world's ORDINAL biggest international carrier.
BT still controls CARDINAL of the GPE residential market, but stiff competition for international and business calls and tough regulation have helped the group forge a deal -- however defensive -- analysts say may turn it into a world class firm.
""BT has exploited its lead...in doing a deal with ORG while the GPE is squeaky clean as far as open markets are concerned -- certainly by comparison with anyone else,"" said CARDINAL analyst.
As the technological revolution sweeps the market and the cost of delivering an ordinary telephone call plunges, customers can already avoid excessive international charges by using several sorts of wireless telephone, cable telephony in some countries, callback services and Internet telephony.
Since DATE, the NORP international telecoms duopoly between ORG and its much smaller rival ORG and ORG' ORG unit was ended, allowing rivals to carry calls by leasing ORG and ORG lines.
International competition will be complete from DATE, when all CARDINAL rivals to ORG and ORG, such as GPE telecoms giant ORG, will be free to build and operate their own infrastructure without having to make costly settlement payments for using other networks.
The rest of LOC is only due to break up telecoms monopolies, which have relied on national and international restrictions to shore up their profits, by DATE. EASIER REGIME FOR DEUTSCHE TELEKOM
While ORG has to cut its prices under an inflation PERCENT (RPI-7.5) formula at the moment, a cap that will be eased to RPI-4.5 percent from DATE, ORG will operate under a price cap requiring it to cut tariffs by PERCENT below inflation in DATE DATE to CARDINAL.
Deutsche Telekom, due to start trade DATE, revealed to analysts during syndicate meetings that past high investment levels have left it with a gearing level of PERCENT. It will cut staff to CARDINAL from CARDINAL by DATE.
But the company is now generating MONEY (MONEY) of net cash DATE, and analysts in GPE expect interest costs to fall by an average of MONEY per year.
While restructuring and other factors have depressed Deutsche PERSON's net profits, earnings are expected to recover strongly during DATE and beyond, analysts say.
($1=1.5059 Mark)",0
"GPE's inefficient coal sector needs foreign funds and technology to modernise but must do more to create a better investment environment, industry officials and foreign businessmen said on DATE.
""There are opportunities for literally MONEY in coal investments here,"" said PERSON, group executive of NORP mining group ORG
Development of the sector's small and inefficient mines and antiquated power plants would be vital for GPE to meet ambitious production goals and sustain economic growth in DATE, PERSON told an energy conference in GPE.
""The government is coming to realise that a way to ensure that the energy resources for future development are available is by getting foreign companies in with their expertise and capital capacity,"" PERSON said.
GPE relies on coal to meet PERCENT of its energy needs and production accounted for CARDINAL of world output, PERSON said.
However, GPE needed to create a sound investment environment to woo foreign cash and technology to the backward sector, said PERSON, director of the coal and oil department of GPE's ORG.
""The coal industry... is characterised by long periods of construction, huge demands for funds, long repayment periods, low profits and certain risks,"" PERSON said.
PERCENT of funding for large and medium-scale coal projects came from overseas, PERSON said, adding that his bank would try to raise more foreign capital for coal projects in GPE.
""We need to foster a sound investment environment for foreign investors so as to enhance their confidence,"" PERSON told the conference.
PERSON said GPE had made large strides in opening its doors to the once-sensitive power sector but foreign firms would require stronger legal guarantees before taking the plunge into the NORP market.
""Foreign companies see the regulatory framework for mining investments, especially insofar as it relates to resources title, as critical to the success of any long-term commercial venture,"" he said.
Better risk assessment, long-term contracts and assurances of continued profits are also vital to entice foreign firms to GPE's coal sector, he said.
""The international financial community will want these issues settled prior to the funding of large-scale mining projects,"" he said.
GPE, with CARDINAL small-scale mines, needed to form large-scale production to improve efficiency and cut down on waste and pollution, he said, adding that streamlining was now being balanced against the politically-charged concerns of mass unemployment.
Large-scale mining could also greatly reduce GPE's high rate of mining deaths and accidents, he said. CARDINAL workers are killed in GPE's mines DATE.
GPE has said it would open CARDINAL coal projects to foreign investors with priority to foreign investment in pit-head power plants, coal transport facilities and coal-bed methane. It has not said whether investors would be allowed to export output.","A NORP court has jailed a DATE dissident for DATE for subversion, dealing another blow to the country's tiny, struggling democracy movement.
The Intermediate People's Court in GPE city, in the northern province of GPE, convicted PERSON DATE of spreading ""counter-revolutionary propaganda and incitement"", his lawyer, PERSON, said on DATE.
The dissident, detained since DATE, has appealed to the GPE provincial Higher ORG, the GPE-based Human Rights and Democracy in China Information Centre said.
""Their (NORP authorities) intention is to kill the chicken for the monkey to see... to frighten other dissidents,"" a spokesman for the centre, which monitors human rights abuses in GPE, said in a telephone interview.
Zhang was previously jailed for DATE for demanding Premier PERSON be impeached for ordering the military to crush student-led pro-democracy demonstrations centred in GPE's FAC in DATE, the human rights watchdog said.
He lost his seat in the local lawmaking body along with his teaching job at ORG and his wife divorced him after his incarceration in DATE, his family said.
Asked to comment on ORG's latest conviction, his sister, PERSON, said he was innocent.
""He was wrongly accused,"" the sister said by telephone. ""He didn't commit any crime... He didn't do anything.""
His lawyer told ORG the court had found Zhang guilty of attacking GPE's judiciary in an interview with former student leader PERSON that was later published in a GPE newspaper.
ORG, a former student leader of the DATE democracy demonstrations, was sentenced to DATE in prison DATE for conspiring to subvert the government.
The court also found Zhang guilty of signing a petition DATE urging authorities to show political tolerance, the lawyer said.
The court cleared PERSON of any wrongdoing in accepting money from an overseas group, the lawyer said. The court ruled Zhang did accept money but that he did not use the funds for counter-revolutionary activities.
The lawyer said the verdict also did not mention a charge in the bill of indictment that accused Zhang of ""pledging loyalty"" to the GPE authorities by writing to General PERSON.
Chiang is the sole surviving son of the late NORP leader PERSON, who fled to GPE after losing the Chinese civil war to the NORP in DATE. GPE regards GPE as a rebel province.
The dissident had not mailed a letter to GPE that was found in his home in GPE.
GPE's NORP and GPE's NORP have been political rivals for DATE.
In DATE, the NORP authorities have dealt crushing blows to the struggling democracy movement.
Most dissidents have already been forced into exile or are serving long sentences in prison or labour camps.
GPE dismisses criticism of its human rights record as interference in its internal affairs.
CARDINAL pro-democracy activists are currently standing trial on charges of counter-revolutionary propaganda and incitement in GPE, capital of the central province of GPE.
In the southern boomtown of GPE that neighbours GPE, CARDINAL labour activists are standing trial for conspiring to subvert the government.",0
"Officials with ORG in northeastern GPE on DATE dismissed a report that the joint venture faced possible closure.
""This report is incorrect,"" said a spokeswoman of the joint venture, referring to a report by the NORP news magazine PERSON.
""Production is still continuing,"" she said in a telephone interview from GPE.
""We have a DATE agreement. If the NORP side withdrew unilaterally, they would have to pay compensation,"" she said. She added that the CARDINAL sides would soon hold a ceremony marking the full implementation of the joint venture project.
A spokesman for ORG ORG arm in GPE also said production at the joint venture would continue.
""There is no reason to leave GPE,"" he said.
PERSON said the GPE plant was losing money and production of the PRODUCT car had practically ceased.
The GPE-based official said the factory had produced CARDINAL PRODUCT cars in DATE, up PERCENT from DATE.
The PRODUCT was not selling as well as ORG produced at ORG's GPE joint venture, but that operation had taken the lion's share of the domestic passenger car market, he said.
However, some changes in the joint venture agreement were being negotiated, including the introduction of new car models as well as the possibility of ORG taking over sales and after-sales service, the official added.
ORG had been producing PRODUCT at its own production line in GPE under a DATE licensing agreement that expired in DATE. The PRODUCT 200 was now being built at the joint venture, and CARDINAL have been produced since DATE.
A total of CARDINAL PERSON were built from DATE, the ORG official said.
ORG has also sold CARDINAL of its FAC cars, an ORG-based car that the NORP company produces separately from the joint venture using a ORG engine, according to ORG.","NORP-based industrial group ORG painted on DATE a dour outlook of intense competition and low margins, and said it would look to cost cutting and acquisitions to help reignite its share price.
Faced with shareholder anger at the group's weak share price, chairman PERSON fended off suggestions at the group's DATE meeting that ORG was vulnerable to a takeover and forecast a profit recovery in DATE.  
""We are forecasting an improvement in results for DATE, although DATE will be well below the comparative period of DATE,"" Gough said.
Gough defended the board against persistent criticism of its aborted forays into the food and cardiac-implant businesses.
ORG still faces litigation related to its former pacemaker subsidiary, U.S.-based ORG, which was forced to halt production for DATE until DATE due to a pacemaker component defect.  
Telectronics was sold DATE for MONEY to medical equipment firm St ORG Before the sale, ORG booked gross abnormal losses from ORG totalling MONEY in its CARDINAL accounts.
""It was really developing quite visionary things that got us into trouble,"" Gough said as shareholders lined up at microphones to criticise the group's performance.
CARDINAL pensioner told the meeting the group's share price had roughly halved since hitting a high of A$MONEY in DATE, describing it as ""not exactly a blue chip performance"".",0
"GPE is stepping up anti-smoking efforts by barring cigarette promotions on state roads, forcing ORG to drop its name from CARDINAL of banners promoting LAW of GPE motor race.
New rules detailing limits on using banners to promote sports events, to be published on DATE, are due to take effect in DATE, a ORG official said.
Banners for beer, tobacco and other products meant for adults are covered by the new rules. Promoters can place a product name on the banners but cannot use type faces, logos and colours associated with the banned products.
""Most sporting events have a corporate name attached to them and that name would be allowed,"" said department spokeswoman PERSON. ""But if it's a product that can't be sold to minors, the banner can't contain logos or significant advertising promoting the product.""
Advertising on billboards, often located on private property, will not be affected by the new rules covering state roadways, the official said. The rules do not affect municipal, GPE and other roads maintained by other governments.
In GPE, an ORG-class grand prix site since DATE, CARDINAL of coloured banners no longer bear the ORG name, even though DATE competition is officially called ORG presented by ORG.
Banners for the event say simply, PRODUCT of GPE presented by ORG.
DATE banners carried the distinctive red colour and bold typface of ORG, the most popular cigarette in GPE.
A spokeswoman for ORG. Inc., maker of ORG cigarettes, said the company had chosen to drop the ORG name from the banners as a courtesy. ORG officials, including anti-tobacco activist Gov. PERSON, complained about the ORG signs DATE.
""We will have signage and merchandise and cigarettes for sale to people DATE and over at the site,"" said ORG spokeswoman PERSON. ""We really want to reach smokers choosing brands.""
Marlboro, which along with ORG is a major sponsor of motorsports events, will back other ORG events DATE in GPE, GPE, GPE, GPE and elsewhere.
Such sponsorships are major promotional outlets for the GPE tobacco industry, with the top CARDINAL producers spending MONEY or more DATE on motorsports sponsorships, according to ORG newsletter.
ORG spent MONEY on motorsport sponsorships and likely as much again on related advertising and promotion during DATE, according to PERSON, senior editor at ORG.
Cigarette advertising has been banned since DATE from GPE television and steadily driven from sponsoring many other sports. The industry now faces still stricter federal government limits on promoting its products.
The federal rules, the ORDINAL of which are to take effect on DATE, sharply curtail cigarette advertising near schools and playgrounds and in publications favoured by people DATE.
A spokesman for ORG, an anti-smoking group, said GPE's roadway ban was unusual. Some local transit systems, in GPE and elsewhere, have dropped tobacco advertising, he said.
A spokesman for ORG, who is spearheading a MONEY lawsuit against the tobacco industry and advocating new state taxes on cigarettes, described him as pleased by the ORG's decision to take its name off the GPE race banners.","ORG, the struggling appliance maker led by corporate turnaround specialist PERSON, said DATE it would cut CARDINAL jobs -- CARDINAL its work force -- and eliminate PERCENT of its product lines.
The drastic measures, even more severe than Wall Street had expected, were announced DATE after ORG -- known as ""Chainsaw Al"" for his deep cost-cutting at troubled companies -- became chairman.
The maker of ORG and ORG appliances, patio furniture and gas grills, which just reported its ORDINAL DATE loss since DATE, said it would also reduce the number of its facilities to CARDINAL from DATE and take a charge of MONEY for CARDINAL-time costs associated with the moves.
The GPE, GPE firm, which lost MONEY in DATE as sales fell PERCENT, did not specify when the charge would be taken.
It did say, however, that MONEY of the charge would be in cash -- for the payment of severance and other employee costs, lease obligations and other plant costs.
Sunbeam also announced ambitious plans for the future. It said it plans to double revenues to MONEY by DATE and lift operating margins to PERCENT of sales from PERCENT posted for DATE.
Sunbeam also wants its return on equity to grow to PERCENT from PERCENT in DATE.
Shrinking profit margins and high manufacturing and administrative costs have depressed the company's profits in DATE. Sunbeam earned MONEY in DATE, CARDINAL its DATE profits.
Sunbeam said it will sell or shut CARDINAL of CARDINAL facilities, including CARDINAL of its CARDINAL factories, leaving it just CARDINAL factories in GPE and CARDINAL overseas. In addition, warehouses will be cut to CARDINAL from DATE.
The company said it will sell several businesses, including those that make furniture, time and temperature devices, scales and decorative bedding.
Asked in an interview later on ORG whether ORG itself is for sale, ORG replied, ""Everything is for sale."" He did not elaborate.
Sunbeam said earlier its remaining businesses will be centred on kitchen appliances, personal care products, health care items, outdoor cooking equipment and professional care products.
""Our goal is to essentially complete the restructuring initiatives within DATE. Therefore, the company has every intention of meeting its previously stated goal of beginning DATE as a new company,"" ORG said in a statement.
Sales will double by DATE to MONEY, he said.
""It will be vintage ORG,"" ORG said in a conference call with institutional investors and analysts.
ORG declined to identify potential deal partners but said new products, including many designed for GPE markets, and other steps would yield PERCENT or better DATE revenue growth.
PERSON, who was named chairman and chief executive officer in DATE, is credited with turning around ORG, which was later sold to ORG. At ORG, ORG fired CARDINAL workers and sold MONEY in assets.
While his turnaround campaigns have helped stockholders, they have been criticised by community activists, unions and other groups as insensitive to workers.
Within DATE of joining ORG, ORG -- also nicknamed ""PERSON"" after the villain of LAW films -- replaced several top executives and brought in people who had worked for him in the past.
Although restructuring annoucements usually boost a company's stock price, ORG stock lost MONEY to $MONEY in late trading on ORG.
""He's pulled off some amazing turnarounds,"" ORG analyst PERSON said of ORG. ""But I'm a little sceptical. I think the stock's a little ahead of itself.""
""'Chainsaw Al' is a pussycat name for you,"" analyst PERSON of ORG told ORG. ""If you pull this off, you should be called 'Nuclear Al.'""",1
"GPE has tried to put new pressure on GPE to boost economic ties, courting the island's businessmen with an announcement of rules on direct shipping links, analysts said on DATE.
But they said GPE remained far from its goal of securing direct shipping, banned by the rival NORP government of GPE.
""From what we have seen, this already has put some pressure on the GPE authorities,"" said PERSON, head of ORG at ORG.
""This could help stabilise economic ties but more practical steps are needed,"" he said, speaking by telephone from the southeastern port city that would likely benefit from any direct shipping links.
GPE, which views the island as a renegade province, unilaterally announced DATE a series of regulations on direct shipping links, giving its blue print for future trade.
GPE's NORP government has banned direct air and shipping links with GPE since DATE when PERSON NORP troops lost the Chinese civil war to the communists and fled to the island.
With tensions easing since DATE, civilian aircraft and vessels have skirted the ban by stopping over in a ORDINAL country or territory such as the NORP colony of GPE or NORP-run GPE.
NORP businessmen, who have poured over MONEY into GPE, are eager for direct transport links, but NORP authorities have been reluctant to lift the ban.
The latest news fuelled hopes among many of GPE's businessmen that some of the restrictions might be eased, and it briefly buoyed shipping stocks on the GPE bourse.
The NORP, who say they are committed to eventual reunification with GPE, see direct transport links as their last bargaining chip in talks with the communists.
GPE said that direct shipping would be purely a domestic matter, specifying that only NORP or NORP companies -- or joint ventures including CARDINAL side or the other -- would be allowed to conduct business on the routes.
""The documents define clearly that direct cargo transport between harbours on the NORP mainland and GPE is regarded as domestic transportation under special management,"" the official ORG said.
They also make no mention of the role that GPE authorities would play, saying only that all companies engaged in the trade would need GPE's permission.
GPE has set its own formula for future links but it wants to limit the trade to foreign registered companies through a so-called ""offshore"" southern port.
GPE's tactics echo those applied to the NORP colony of GPE, where it has tried to lure companies with substantial business interests in GPE to do its bidding politically while it engages in political arm-wrestling with the NORP administration.
In GPE, at least, those tactics have been highly successful as many of the same tycoons who once courted the NORP administration have turned to GPE to look for economic favours in return for their political support.
Whether that works with GPE remains to be seen.
""The new shipping rules were clearly designed to step up the pressure on GPE,"" said a Western diplomat.
""But if GPE doesn't agree, it's all empty talk.""","ORG is set to hold what many fear may be its last EVENT championship on DATE after a chaotic, money-losing season.
The championship between ORG -- led by former ORG star quarterback PERSON -- and ORG, is the ORDINAL league title game.
But some wonder if there will be a Grey Cup DATE.
Despite returning to its NORP roots DATE after a failed GPE expansion, the ORG is dripping red ink. All but CARDINAL of its CARDINAL clubs will lose money, due to small crowds and cash bailouts to keep teams in GPE, GPE and GPE afloat during DATE.
The DATE GPE Rough Riders franchise folded DATE at the end of the regular season.
So precarious are the league's finances that the cash-strapped PERSON could not afford to fly players' wives to the Grey Cup game in GPE, GPE, QUANTITY (QUANTITY) southwest of GPE.
""WORK_OF_ART?"" asked ORG, GPE's biggest newspaper, in a front page story on DATE.
Some say the ORG needs the bigger and richer ORG to survive.
ORG Commissioner PERSON said he is interested in ""building a relationship"" with the ORG, but that the ORG will not become a Triple A minor league.
""I have no interest in a farm system. If we could have some developmental relationships like we've done in the past with guys like FAC and PERSON, then that would be great,"" Smith said in a telephone interview.
Moon and ORG were star CFL quarterbacks in DATE DATE before jumping to the ORG.
""What we have been doing is exploring some ideas on ways we could possibly work together. But we have not reached an agreement on anything at this point,"" said PERSON, director of communications for the ORG.
ORG purists fear closer ties with the ORG would threaten the distinctiveness of NORP-style football.
GPE's game closely resembles the GPE brand, but there are a few key differences. The playing field is longer and wider. NORP teams get CARDINAL downs instead of CARDINAL to gain QUANTITY and keep possession of the ball.
There are CARDINAL players a side compared to CARDINAL, and single points are awarded for missed field goals not run out of the end zone.
Football writer and former ORG player PERSON said the ORG could help pay the salaries of developing players, but that closer ties could alienate the ORG's remaining followers.
But fans already appear to have turned off the ORG.
Average attendance slipped to CARDINAL DATE from CARDINAL in DATE, despite a slick new ""Radically NORP"" marketing campaign trumpeting the league's NORP heritage.
In major markets such as GPE and GPE, the league is considered ORDINAL-rate.
A DATE pre-season ORG game between the GPE ORG and PERSON in GPE drew CARDINAL fans. DATE, the NORP, despite the league's best record of CARDINAL, averaged CARDINAL fans.
Unless there is a late surge in ticket sales, the ORG game will fall short of a sell-out. ""The way it looks now we may have CARDINAL. We have capacity for CARDINAL,"" organiser PERSON said on DATE.
It is a far cry from DATE when the ORG attracted huge crowds and players such as PERSON, PERSON, PERSON and PERSON were household names.
Players now rarely stay long enough to become known by fans. Poor marketing has also left the ORG far behind other sports in the race for the public's entertainment dollars.
In a bid to save the league, Smith has proposed a restructuring plan to cut costs. All clubs have until DATE to secure enough season-ticket sales to operate DATE.
Smith is confident there will be CARDINAL teams DATE, but he said the ORG was prepared to operate with fewer.
There will likely be no football in GPE, DATE after the league revoked the franchise in GPE's capital from GPE businessman PERSON.
The future is also cloudy for ORG -- who won WORK_OF_ART DATE as ORG, but lured few fans DATE -- and ORG, who are in receivership.",0
"Rumours NORP drugs group ORG has designs on NORP group ORG need to be treated with intense caution, analysts said on DATE.
Shares in ORG rose sharply in late trading, closing up MONEY at CARDINAL, while in GPE shares in ORG dropped MONEY to MONEY.
Analysts said rumours that ORG was trying to put together a funding package of MONEY had fueled the late buying of ORG.  
But CARDINAL analyst with a NORP bank who asked not to be named said rumours about ORG, which has most commonly been cited as a suitor for another NORP company, ORG, have become a regular feature of the market.
Both ORG and ORG declined to comment on the speculation.
ORG had a market capitalization of MONEY stg at the close of trading on DATE and analysts said a hostile bid would probably lead to a PERCENT premium on top of this.  
ORG, which is worth MONEY, already has a cash pile of MONEY to fund any ambitions it might have.
ORG director of equity research PERSON said: ""Don't hold your breath, but it isn't that stupid."" But ORG said an agreed merger between the CARDINAL companies was more feasible than a takeover. He noted that ORG and ORG, which are both in the world's top CARDINAL in terms of sales, have made no secret of their desire to be bigger in a rapidly consolidating drugs market and a merger could ""satisfy the ambition of both companies.""  
A merger would give ORG and ORG a combined world market share of PERCENT, putting them on a par with current world leader PERSON.
ORG would also offer ORG a much firmer footing in the key GPE market, where it lacks critical mass. ORG's vitamin business, which is the biggest in the world, would provide a useful fit with ORG' consumer healthcare and over-the-counter drugs operations.
In terms of drugs, both companies have strong portfolios of central nervous sytem drugs and antibiotics.
However, a GPE brokerage analysts, who also declined to be identified, said that, beyond size, a merger with ORG would offer little in the way of attractions for ORG.
""If I was the finance director of ORG I would look at ORG and see there was a lot of stuff I didn't want,"" he said. ORG's involvement in the GPE pharmacy benefit management business would offer few attractions to ORG, whose drugs are targeted largely at hospitals, he added.","A bullish ORG set out its declaration of independence on DATE, predicting DATE of strong profit growth on the back of robust sales of new drugs and agro-chemicals.
Chief executive PERSON, in his last interview before the group announces DATE results on DATE, told ORG he was confident NORP would meet his ""inspirational target"" of effectively doubling profit by DATE.
All CARDINAL key businesses, pharmaceuticals, agro-chemicals and speciality chemicals, would contribute to the improvement.
Zeneca's share price has jumped by PERCENT in DATE, closing at MONEY on DATE, as takeover rumours swirled around it. Speculation has linked NORP with a dizzying number of partners, including GPE's ORG, GPE's ORG and GPE's Sanofi.
While Barnes said a takeover bid was ""most unlikely,"" he added that shareholders would have to compare any offer with the average annual growth of PERCENT in earnings per share promised by NORP DATE.
Despite its debt-free balance sheet, Barnes said the company had little interest in getting on the acquisition trail itself, preferring to buy in new products and technologies on a case-by-case basis.
""I am not against acquisitions per se but they have to offer value and quality, and most of the opportunites that have come up have failed on CARDINAL or both criteria,"" Barnes said.
The company's main focus is the roll-out of a raft of new products, including the asthma drug PERSON and the new agro-chemical fungicide ORG, which NORP described as ""the biggest single product we've got in the NORP portfolio"".
On DATE the company announced that it was expanding its drug sales force in GPE by PERCENT to cope with the rush of new products, including the potential launch DATE of a ground-breaking schizophrenia drug, Seroquel, and a new migraine drug, PERSON.
Barnes forecast significant sales for ORG and for Seroquel, squashing fears from some analysts that either drug might turn out to be a disappointment.
""Our benchmark for a substantial product is one that has sales of MONEY plus, and both of those have that potential,"" he said.
A lot of hopes are riding on GPE, the ORDINAL of a new generation of asthma drugs in which tablets take the place of steroid-based inhalers.
""WORK_OF_ART for the treatment of asthma has been simple tablet formulation,"" said Barnes. Since the drug's launch in the key GPE market DATE, ORG said, sales had been ""fully up to our expectations"" with a lot of interest shown by doctors.""
Another new drug, the prostate cancer treatment Casodex, is also making rapid progress in GPE, accounting for PERCENT of all new prescriptions.
But Barnes said he was aware that in line with the rest of NORP industry, NORP would have to work harder for its profits in DATE as the strong pound bites into overseas earnings. He acknowledged that the exchange rate could wipe QUANTITY off ORG's DATE profits, which are still expected to top MONEY.
""I don't think the level of sterling is such that our products will be uncompetitive,"" said Barnes, but he added: ""I do think the pound is getting very fully priced now.""",1
"DATE after rival bidders sent its stock on a rollercoaster ride, ORG was set DATE to formally consider a MONEY takeover offer from ORG
The company's board of directors was widely expected to reject the unsolicited ORG offer in favor of a friendly MONEY deal with ORG
""My guess is, at this point, that they stick with the ORG proposal,"" said PERSON of ORG .  
ORG's board was slated to meet DATE ahead of a DATE deadline to respond to the ORG offer.
A ORG spokesman declined to comment on the timing of its decision, but Wall Street experts expected the company to issue an announcement on DATE.
ORG agreed on DATE to be bought by ORG in a cash and stock transaction valued at MONEY, or $MONEY per share. ORG launched its $MONEY-per-share bid on DATE.
Since then, ORG and ORG have vehemently attacked each other's offers and landed in court.  
The ORG-Norfolk Southern relationship between took a new twist DATE when the companies announced they were holding discussions about their bids, but offered conflicting accounts about the talks. Uncertainty about those talks prompted sharp stock declines on DATE.
Industry experts said ORG is likely to defend the lower ORG bid by citing the strategic benefits of the transaction and the lack of potential legal problems associated with the friendly deal. Legal expoerts have said that GPE takeover law could impede a ORG acquisition of ORG.  
Experts also speculated that ORG may try to convince ORG to sweeten its offer in an attempt to appease shareholders who may be upset by the rejection of a higher bid.
Railroad industry experts have said that ORG likely cannot afford to match ORG $MONEY cash offer, but may be able to restructure the bid to increase the cash portion of the transaction.
""I think it is a strong likelihood that any positive reaction from ORG's bid toward ORG bid will force ORG to sweeten their bid,"" said PERSON of ORG.","A computer scientist barred from exporting a floppy disk containing computer encryption programming asked a federal court DATE to strike down the export limits as a violation of his right to free speech.
PERSON challenged the rules after ORG in DATE denied his request to export the programming on disk but allowed him to export the identical material contained in a book.
GPE law treats many kinds of encryption, computer coding and decoding programs, under the same category as munitions.  
The PERSON administration recently issued new rules relaxing the export limits, but most existing encryption programs remain classified as munitions and are subject to strict export limits.
The limits infringed on ORG's constitutional rights to free speech and due process, his attorney, PERSON, told a CARDINAL judge panel of ORG on DATE.
LAW ought to apply equally to computer code written in a book or saved in text form on a floppy disk, PERSON argued.  
""It just cannot be that the LAW doesn't recognize progress,"" PERSON said.
Karn did not attempt to export ""object"" computer code, a working program that could be run on a computer to encrypt and decrypt data. ORG's disk contained ""source"" code, or directions that could be used to write such software.
In another case, Federal district court Judge PERSON held DATE that source code should be considered a protected form of speech. But the ruling, in LOC of GPE, is not binding on ORG court.",0
"Deregulation of the MONEY local telephone market is progressing -- but not by the script written by ORG.
Although ORG DATE declined to revive key parts of the ORG's landmark rules for prying open local phone monopolies, the march to competition is not dead, industry and government officials agree, and earlier fears that consumers would not see lower rates anytime soon may be overblown.
""Things haven't come to a halt,"" said PERSON, a former ORG general counsel. ""It's not the end of the world.""  
But the deregulation road map has changed.
State regulators, not the ORG, are calling many of the shots over how to open the local market to competition from the likes of long-distance carriers such as ORG, cable-TV operators, utilities and other companies.
The states do, however, appear to be taking account of the ORG's now-defunct rules governing the prices new entrants to the local business must pay to acess the existing network controlled by PERSON and other local carriers.  
ORG Chairman PERSON -- who DATE charged that an appeals court order suspending the ORG rules amounted to a ""monkey wrench"" in the  deregulation process -- now sees matters differently. ""I'm pretty encouraged as of this moment about the general trend here,"" he said DATE.
What's more, long-distance carriers such as ORG are not now sounding alarm bells.
And despite warnings that state regulators would give local carriers preferential treatment once the ORG rules were suspended, PERSON and other local companies concede that state decisions so far represent a ""mixed bag"" for them.  
ORG Vice President PERSON insists ""it is impossible not to conclude"" the states are being independent.
DATE, a GPE appeals court in GPE suspended key provisions of the ORG's ""interconnection"" rules that spell out how new entrants can hook up to the local network under the new communications law.
The court said the ORG likely erred when writing them. PERSON, ORG and other local carriers and state regulators want the rules overturned.  
They argue that the ORG unfairly snatched from the states power to issue policies governing pricing and other matters.
Thanks to the appeals court order, state regulators are responsible for deciding important pricing issues. The ORG rules prescibed standardized prices for all CARDINAL states.
Lawyers and industry officials agree that even though the ORG rules are suspended, their influence still lingers.
Regulators in GPE, GPE, GPE, GPE, GPE, and elsewhere have not strayed far from them in arbitration decisions they've issued involving ORG and ORG and PERSON.  
The decisions lay the groundwork for how the CARDINAL long-distance giants access the local network.
""So far, states are taking an approach generally consistent with the ORG's rules,"" said PERSON of the management consulting firm ORG
The ORG required PERSON to lease their networks in bulk at discounts of PERCENT.
The ORG also ordered local carriers to ""unbundle"" their networks into CARDINAL pieces that new rivals could lease to complete their own networks. The price of the pieces -- such as call-switching devices and operator assistance -- were to be based on the cost of new and more efficient facilities.
""In general, the states so far are very consistent with the ORG's interconnection order and with the general pricing construct the ORG laid out,"" said ORG Vice President PERSON.
Predicted PERSON, a senior vice president for a division of ORG : ""There will be competition in the local markets by the early part of DATE.""","NORP retailers are heading for a grim round of sharply lower profit results as CARDINAL by CARDINAL the major chains announce they have fallen casualty to a sluggish economy and tight-fisted consumers.
Homeware retailer PERSON added its voice on DATE to the chorus of woe, revealing it was trailing its goal of PERCENT DATE sales growth amid the worst retail environment in the company's DATE history.  
The comments, made to ORG in an interview, follow formal warnings to the stock exchange that big upmarket department store chain PERSON, and CARDINAL large clothing retailers, expect steep profit slides.
PERSON and fashion houses Country Road Ltd and Just Jeans Ltd have all warned of PERCENT drops in interim profit for DATE, confirming that DATE failed to boost retailers' bottom lines.  
""We are used to posting massive increases (in sales turnover) DATE after DATE after year. This is DATE we've ever been caught up in a general market malaise,"" said PERSON managing director PERSON.
""It's basically an indication to us that the market is having DATE since PERSON began (in DATE).""
PERSON, which is aiming for turnover of MONEY in DATE, has enjoyed DATE sales growth of PERCENT over DATE.  
It, along with other retailers, had been hoping for a strong DATE but found NORP wallets were not as easy to prise open as they once were, especially for clothes.
GPE's biggest retailer, ORG, which accounts for MONEY in every retail dollar spent, declined on DATE to give figures for DATE sales.
But corporate affairs director PERSON said he was ""comfortable"" with PERSON' performance. PERSON has recently been among the most poorly performed listed retailers and is embarking on a major refocusing of its sprawling businesses.  
Official data released on DATE showed that all areas of retailing except for food weakened in DATE and that overall retail sales continued to trend down despite CARDINAL interest rate cuts since DATE.
ORG eased rates again DATE, but it was too late to rescue a ORDINAL dismal DATE for retailers.
""A shocker"" was how CARDINAL stock analyst summed up DATE for the clothing retailers, but she said supermarket chain PERSON and other food retailers should have come through the DATE period relatively unscathed.  
Asked about the outlook for DATE profits in CARDINAL, the analyst said: ""Pretty grim."" But she and another analyst said they saw a pick-up in earnings in DATE.
""I think the outlook is reasonable, but not spectacular,"" the ORDINAL analyst said.
-- ORG CARDINAL-3 9286-1421",0
"NORP haggling among the world's trade ministers has brought within grasp a lucrative deal to free the global information technology market, officials said DATE, and some said they saw movement on the contentious issue of labour standards.
Big powers, notably GPE and ORG, said a flurry of talks during DATE of ORG ministerial conference had inched toward a global pact to eliminate tariffs on the MONEY market for information technology.
Differences appeared to narrow on standards to regulate cheap labour and child workers.
ORG officials want a final declaration at the close of the ORDINAL ministerial meeting of the fledgling trade body on DATE that would point the ORG down the free trade path into DATE.
The ORG, along with GPE, GPE and GPE, was making progress to reach consensus on an Information Technology Agreement that would be the crowning achievement of the meeting, ORG Commissioner Sir PERSON told reporters.
""We are making a lot of progress,"" PERSON said after a lunchtime meeting of the CARDINAL major trading partners to discuss types of products to be covered and timing of tariff reductions.
Acting GPE Trade Representative PERSON said she concurred with ORG's comments, but declined to say anything more on the proposed pact to remove tariffs on computer products by DATE.
""There is no question that what the industrialised countries now hope for most here is a deal on information technology products and agreement to work hard for a basic telecommunications pact by DATE,"" said CARDINAL key negotiator.
Signals from negotiators left little doubt the major traders were aiming for agreement as quickly as possible -- perhaps by DATE -- to convince NORP trading partners to sign on to the agreement by the end of the meeting on DATE.
GPE's Foreign Minister PERSON told the conference he hoped ""ardently .... that we will have an agreement as the most significant achievement of this ministerial conference in the area of trade liberalisation.""
However, several NORP nations voiced reservations, with GPE saying the goal of free commerce in infotechnology by DATE was too ambitious.
""We did not come here to discuss LAW,"" International Trade and Industry Minister PERSON said. ""All negotiations should be done in GPE.""
The CARDINAL full delegations from ORG member countries and ministers and officials from CARDINAL others waiting to be admitted heard ringing appeals for progress toward a telecommunications liberalisation pact with a deadline set for DATE.
Another TIME meeting was called on the issue of labour standards, which has emerged as the most divisive at the meeting.
A NORP foreign ministry official told reporters that some developing countries that had opposed any mention of the labour issue in the final declaration were taking a more positive position. ""A possibility of an agreement has emerged,"" he said, but addded that some hard-core emerging economies were holding out.
GPE, GPE and GPE, for example, have been insisting on no mention at all, arguing that even a neutral phrasing would suggest work conditions were a subject for the ORG.
Aiming to counter lobbying by sceptical Western-based aid groups, the ORG insisted that the poorest nations stood to reap major benefit from the freeing of global commerce.
But ORG officials admitted that Director-General PERSON had failed to convince richer members, both industrialised and emerging economies, to remove all tariffs and other barriers affecting goods from the laggard states.
ORG made little headway in efforts to persuade its main trading partners to jump-start stalled talks on GPE's bid for ORG admission. But GPE, another major member-in-waiting, expected to win entry by DATE, NORP Deputy Prime Minister PERSON said.","GPE's ORG, in what it called one of its greatest ever documents, warned on DATE against hostile NORP ideas such as parliamentary democracy and capitalism and vowed to fight back with puritan NORP values.
The CARDINAL-character document -- adopted at DATE DATE secret plenum of the ruling party elite -- marked the latest volley by party chief PERSON to boost his position by battling corruption, pornography and worship of money while promoting nationalism and hardline communist ideology.
Diplomats said a strong tone of opposition to the LOC and particularly GPE, which GPE fears is pursuing a policy of containment toward GPE, also suffused the document, unveiled by the official ORG.
They said PERSON was striving to placate leftwing party hardliners angered by what they see as an erosion of puritan communist values by DATE of profit-based economic reform.
""The standard of moral conduct has been lowered in some spheres, and the practice of worshipping money, seeking pleasure and individualism has grown,"" the document said.
It railed against corruption, warning senior party officials not to be tempted by the lures of power, profit and sex.
PERSON has warned repeatedly that corruption is a virus that could topple the party which has ruled GPE since DATE, and public opinion surveys show graft as the top popular gripe.
In a sign that PERSON needs to consolidate his power base even after amassing GPE's CARDINAL most important posts -- general secretary of the party, state president and chairman of the party's powerful ORG -- the document paid extravagant homage to paramount leader PERSON, DATE.
The text was littered with CARDINAL mentions of PERSON's name, against CARDINAL for GPE and CARDINAL for the late Chairman PERSON.
Analysts say PERSON remains overshadowed by PERSON, architect of the market-oriented reforms and influential even without an official post and despite increasingly fragile health.
However, a recurring theme of the document was a warning to the nation to be on guard against the LOC, taking up CARDINAL of the main platforms of PERSON's rule -- the importance of patriotism.
It urged self-sufficiency, saying people should ""fear no pressure, safeguard national sovereignty and surmount sanctions imposed by NORP countries"" -- a clear reference to GPE.
""Because socialism has suffered serious setbacks on a worldwide scale, pressure from the superiority of developed capitalist countries in economy...as well as the infiltrations of Western ideology will remain for a long time,"" it warned.
It advocated ""how to...prevent and eliminate the spread of cultural garbage, resist the conspiracy by hostile forces to westernise and split our country,"" -- and suggested more flag-raising ceremonies and singing of the national anthem.
However, despite the lip-service to PERSON, the document cast doubt over one of his most far-reaching reforms -- the lifting of a ban on private enterprise -- while repeating his opposition to western-style democracy.
""It is necessary to distinguish right from wrong on such major issues as...common development of various economic sectors with socialist public ownership as the mainstay versus privatisation...socialist democracy versus parliamentary democracy practised in NORP countries,"" it said.
""ORG will precisely lead GPE to the capitalist road and undermine the political situation,"" the document thundered.",1
"Internet search firm ORG DATE reported a smaller-than expected DATE loss, reflecting sharply higher revenues from Internet advertising.
The GPE, Calif.-based company reported a loss of MONEY, or MONEY a share, for DATE compared with a loss of $MONEY, or MONEY a share, in DATE. Sales jumped to MONEY from $MONEY in DATE and MONEY in DATE.
Analysts had expected the company to lose MONEY a share in DATE, according to ORG, which tracks earnings estimates.
Yahoo! is an online directory that appears on computer screens as computer users tap the Internet, the global computer network. The service helps users find specific sites, articles and points of interest in the World Wide Web section of the Internet. Yahoo! makes its money from advertisers, which display banners on its Internet site.
The company, founded by CARDINAL ORG students DATE, went public in DATE.
Most of the DATE's loss came from the cost of advertising Yahoo! in traditional media, said PERSON, chief financial officer. The company spent MONEY on sales and marketing, CARDINAL times the $MONEY it spent DATE. Research and development expenses also jumped in DATE to MONEY.
""Our focus righrt now is absolutely on building market share, on expanding out reach globally and on adding"" services to the site, PERSON said.
PERSON declined to say how much the company planned to spend on marketing and research and development in DATE.
Yahoo! said the number of advertiser grew to CARDINAL in DATE from CARDINAL in DATE.
Yahoo! also reported MONEY ""hits,"" or viewings by computer users, in DATE, giving the company an average of CARDINAL page views DATE, up from an average of CARDINAL a day in DATE. The site is one of the most popular destinations on the Web.
Yahoo! had a loss of MONEY, or MONEY a share, in DATE on sales of MONEY.","ORG said DATE its DATE profit from operations rose PERCENT, reflecting strong sales of its computer networking equipment.
The company, which makes devices that control the flow of information between computers in a network, said earnings before gains and charges rose to MONEY, or MONEY a share, for DATE, from MONEY or MONEY in DATE.
Net income for DATE, after taking into account a MONEY charge for the acquisition of ORG and a MONEY gain from the sale of a minority investment, totaled MONEY, or MONEY a share, slightly lower than the DATE figure.
Revenues jumped PERCENT to MONEY from MONEY.
Wall Street had expected GPE, the world's biggest computer networking company and a bellwhether technology stock, to report a profit from operations of MONEY, according to ORG, which tracks estimates.
Analysts said the company had a solid quarter, alleviating concerns in DATE about slowing sales of networking equipment.
""They surprised us on the revenue,"" said PERSON, analyst at ORG in GPE. ""It was a little higher than we thought.""
PERSON also managed to keep its gross margins -- a measure of how much profit a company makes from each dollar of sales -- at PERCENT, better than analysts had expected.
GPE, based in GPE, GPE, attributed the higher profits to strong sales across all its product lines.
""More of our customers are beginning to look at a single vendor"" for all of their networking needs, said PERSON, GPE's chief executive.
The company reported its results after the market closed. For DATE, the stock had gained $MONEY to close at $MONEY. After the earnings release, the shares slipped MONEY to $MONEY in after-hour trading.
Analysts said some investors may have been disappointed that GPE's earnings per share were not higher. Frequently, GPE reports per-share results that are CARDINAL or MONEY above forecasts.",1
"Landing fees at GPE new PERSON airport must be competitively priced compared to other airports in the region, the chairman of ORG PERSON said.
Reports of fees double those at PERSON airport have already caused alarm among airlines and representative groups such as ORG.
As CARDINAL of the main users of the new airport, industry observers say ORG managers are especially concerned about the level of the new fees which will heavily influence long term profitability.
ORG Users' Group is CARDINAL group closely watching the situation, PERSON noted at the ceremonial start of work on ORG's new headquarters at the site of the new airport.
""As airlines compete against each other, so do airports such as GPE, GPE and GPE's new airport. It is important for the industry and the economy of GPE that the airport is competitive for its users,"" Sutch said.
A spokesman for ORG, the body set up to manage PERSON said the consultation process is still going on and the fee structure is expected to be revealed in the ORDINAL or second quarter of DATE.
Sutch said ORG is considering raising passenger ticket prices and air cargo rates because of increased fuel costs.
""We are seriously considering reducing some of the increased fuel cost through higher ticket prices and cargo rates. As soon as a decision is made we will let you know,"" he said.
Airlines belonging to ORG agreed on DATE on a three per cent rise in air fares to cover higher fuel bills. -- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017","International specialty chemicals group ORG said on DATE it expected profit margins at its key adhesive and textile coatings business to recover fully over DATE.
Raw material price rises and intense competition pushed margins CARDINAL three percent in DATE. Divisional operating profit slumped PERCENT to CARDINAL stg.
But in a telephone interview with ORG, finance director PERSON said, ""There is no reason why over DATE they can't be restored to PERCENT.""  
Weakness at adhesives and textile coatings and at the performance chemicals division helped hold BTP back in DATE, with group pretax profit rising just PERCENT to CARDINAL stg.
The group is busy restructuring its adhesives manufacturing operations in GPE and GPE, and ORG said all group operations, which range from making preservative chemicals for cosmetics and toiletries to safety harnesses for people who work at heights, ""are going quite well"".
On a regional basis, ORG said, ""The tougher markets are continental LOC, but there are signs of life even there.""  
Sluggishness in GPE and GPE, which account for PERCENT of group sales, continues to be a problem. ""But things are getting better even there,"" PERSON added.
BTP is a major supplier of agrochemical intermediates in the GPE, which accounts for PERCENT of group sales, and ORG said there was no sign of a slowdown there.
The Manchester-based company underlined its committment to growth in the GPE on DATE by announcing the acquisition of a small leather chenmical manufaturer from ORG for MONEY.  
With low gearing, which stood at PERCENT at DATE, ORG said ORG could comfortably make an acquisition of CARDINAL stg.
""The general strategy is to add on to existing businesses. We are not going to leap into the dark in other arease,"" said PERSON, who said any acquisitions must meet strict financial criteria. ""They have got to fit and be earnings enhancing.""
PERSON +44 CARDINAL 7717",0
"ORG, the fast-growing NORP-French information technology group, said on DATE it was banking on growth from its telecoms and business systems operations in DATE.
But director of communications PERSON told ORG that although the group was seeking to expand into GPE and the GPE, Sema plans to focus on maintaining robust organic growth DATE.
""DATE will be DATE of integration...It will not be DATE of acquisitions like DATE and even DATE,"" Bessis told ORG by telephone from GPE.
""From DATE we will see the opportunities...But the objective will be to integrate the acquisitions, to maintain a strong organic growth and to accelerate the telecom and business system market,"" she said.
Spending on technology is surging in the fast-growing telecoms market and Sema has signed agreements with PRODUCT -- the alliance of ORG, Deutsche PERSON and ORG, which is an indirect shareholder in Sema -- and NORP
The group is developing value-added services and CARDINAL-way messaging for ORG's wireless arm and is integrating the computer systems of ORG.
Sema's ORDINAL rights issue to raise CARDINAL stg for acquisitions and growth DATE has left the group with CARDINAL stg of cash and no gearing.
And acquisitions such as the purchase of ORG stake in IT systems integration business NORP DATE have given Sema substantial new resources and know-how in the fixed telephone market.
A recent acquisition spree has brought not only NORP, but ORG business services arm and a majority stake in ORG's Sytax processing unit into Sema's fold. The ORDINAL CARDINAL are expected to add CARDINAL stg to group turnover in DATE.
Sema, which is quoted on the GPE and GPE stock exchanges, earlier reported a PERCENT rise in DATE pre-tax profits to CARDINAL stg on sales of CARDINAL stg -- a rise of PERCENT.
Organic growth rose a sharp PERCENT and its order book jumped PERCENT to MONEY. But ORG said she expected average annual growth of PERCENT from all businesses, including the slower technology arm which includes control and command systems for ORG.
Sema's telecoms systems business saw PERCENT growth and its business systems, which includes the high-margin outsourcing and systems integrations operations, saw PERCENT growth over DATE, ORG said.
The company, whose shares have surged from 532p to MONEY over DATE, was one of the best performers on the stock exchange DATE.
And PERSON says it is unconcerned at its soaring price earnings ratio of CARDINAL times which could make the shares look expensive.
It's a good sector and it's a company which is growing spectacularly,"" Bessis said. ""We've had DATE of tremendous results -- not just one year.""
But the shares slipped CARDINAL to CARDINAL by DATE ORG.
Double-digit compound growth is expected to be fuelled by the vast workload as companies prepare computer systems for ORG and what has been dubbed the ""millenium problem"" -- adjusting computers to handle dates from DATE.
The bill for these preparations has been tipped by consultants and analysts to be anything from MONEY.
-- GPE PRODUCT +44 CARDINAL DATE","ORG (BT) and its NORP partner ORG will ""move heaven and earth"" to link up with GPE's restructured telecoms giant ORG and ORGORG), analysts said on DATE.
BT welcomed news that the NORP government had decided to split ORG into CARDINAL parts under one holding company as part of its efforts to reach a compromise while liberalising the world's ORDINAL biggest telecoms market.
""BT...welcomes the news that ORG is to be given the opportunity to operate on a truly international basis,"" a company spokesman told ORG.
The NORP telecoms giant, which announced DATE that it wanted to merge with GPE's ORDINAL biggest long-distance carrier ORG to create ORG, has openly stated that the enlarged group should give it more clout to woo ORG as part of its ticket into the booming NORP telecoms markets.
But he declined to say whether news that GPE will restructure ORG into CARDINAL regional and CARDINAL long-distance group would help ORG in its quest to link up with the NORP titan.
""We've always said we'd like ORG to be our partner in GPE,"" he said, but added: ""We can't say whether this makes it easier and better...""
Analysts said that GPE's decision to restructure ORG, the world's biggest telecoms company, had been well flagged and it was now up to ORG, ORG and their proposed combined company, dubbed ORG, to forge a deal.
But the difficulty was how to establish partial ownership of an asset in GPE without significant earnings dilution.
""If BT can form a partnership with this new holding company structured ORG -- with access to the international market -- then that's game, set and match,"" said PERSON, telecoms analyst at brokers ORG.
""My feeling is that PERSON will probably move heaven and earth try and do a deal with ORG now -- and ORG would probably be crazy to take on anyone else as a partner. PERSON has got the product set which everyone wants.""
Taking any significant stake in ORG would not only be hugely expensive but dilute earnings. Foreign companies would find themselves paying a lot of money for few earnings simply because the price earnings ratio of ORG is so high, analysts noted.
""There are still foreign ownership restrictions on ORG which will not be lifted until DATE,"" said PERSON, telecoms analyst at ORG.
""But we do know ORG wants to establish some form of global alliance with ORG, be it in the form of a marketing agreement, some sort of equity swap or a straightforward equity stake.
""I dont think GPE knows what it is going to do yet.""
If the creation of PERSON wins regulatory approval DATE, it will be one of the largest end-to-end telecoms services providers for multi-national companies as the worldwide telecoms market is rapidly being liberalised.
Rivals include NORP and newly-floated NORP telecoms groups ORG and ORG Telekom, that have linked up with GPE long-distance carrier ORG to form ORG -- and GPE telecoms giant ORG, which has set up ORG with CARDINAL companies.
ORG, which currently is a purely domestic operator with a stranglehold on the domestic NORP market, has a market capitalisation that at MONEY, eclipses all others.
GPE's NORP ministry said TIME that the ORG restructuring may not be put into place until DATE.",1
"Ivorian CARDINAL cocoa arrivals stood at CARDINAL-410,000 tonnes by DATE, after a slow start to DATE, analysts and exporters say.
Exporters blamed a combination of crop profile and demand factors for the dip in DATE -- usually DATE.
The figures to DATE were down from QUANTITY by DATE, but some analysts said a further QUANTITY should be added to this DATE's total for comparative purposes as the season had opened DATE late.
An averaged figure plus the QUANTITY would put arrivals since DATE at CARDINAL. Various sources put arrivals at GPE since DATE at QUANTITY with the rest going to the main port of GPE.
""Arrivals were slower than usual for DATE but in DATE arrivals have overtaken DATE (DATE) rate,"" said CARDINAL exporter. ""People are completing DATE contracts but DATE will be strong,"" he added.
Subsequent arrivals up to DATE were said by exporters to be QUANTITY per week. They expected the deficit in arrivals compared to DATE to grow in DATE before narrowing sharply in DATE, when arrivals pick up again.
Difficulty in obtaining export contracts from the NORP marketing board and problems with bean drying after rains upcountry had accentuated the usual DATE period drop-off.
Rains had damaged bushtracks, delaying collection and raising humidity and moisture to above acceptable levels in some areas.
""We are refusing some cocoa. There is a lot more coming down now the sun is out,"" said CARDINAL GPE-based exporter.
Drying problems and poor fermentation had raised bean humidity to PERCENT in some areas, extending both normal and machine drying times.
""Humidity levels are slipping back down from anything up to 11 percent,"" said CARDINAL PERSON-based buyer, and the guideline farmgate price of CARDINAL CFA per kilo had on the whole been paid to growers.
Upcountry buyers visited by ORG over DATE had taken the chance to dry out large quantities of fresh through to greyish moist beans as a wet DATE gave way to usual dry sunny weather ahead of the holiday.
""It's patchy, but sunny days are here again,"" said CARDINAL buyer. ""Whatever was cut off in village stores or too wet can now be properly dried out,"" he added.
PERSON received over CARDINAL in DATE from DATE, exporters there said.
Reports of smuggling to GPE continue to surface but CARDINAL Western diplomat recently returning by road from PERSON said road conditions were appalling and few covered trucks had been seen.
Large shipments in DATE are expected to cut into port stocks.
""LOC stocks are unclear but there are a lot of bulk shipments,"" said CARDINAL exporter.
-- ORG +225 CARDINAL","Exporters have united to oppose an NORP government plan to make them liable for income tax owed and frequently unpaid by upcountry buyers, exporters said on DATE.
Tax laws approved by parliament in DATE allowed for deductions equivalent to PERCENT of commission paid by exporters to agents buying cocoa on their behalf in DATE, they told ORG.
""Because we hold export licences does not mean we are qualified to act as tax collectors. We are in discussions with the government,"" PERSON exporters' forum president, PERSON, told ORG on DATE.
One exporter said the dispute had contributed to export delays at the start of the 1996/97 marketing season but a decision was expected by DATE. ""Banks are ready to finance but we still do not have an export rate to work on and now we are into DATE,"" he said.
Exporters say the plan means a deduction of CARDINAL CFA per kilo from buyers' commissions. Buyers are currently paid a CARDINAL commission rate of CARDINAL ORG per kilo of collected cocoa, but GPE opened its CARDINAL cocoa marketing DATE without setting new reference rates for exporters and buyers along the farmgate-to-shipment marketing chain.
Exporters say if the law is applied, tax collection costs should be given by the government to exporters.
""We would also have to find ways of getting buyers to pay up and cover the tax collection costs if it goes through,"" one told ORG.
Donors say the plan is part of a clampdown on tax evasion by up-country buyers.
""Buyers must pay their income tax and the government has found it difficult to get them to pay. The idea is to get exporters to pay it up front,"" said a bank official.
Exporters say the tax plan is poorly defined as well as misdirected.
""We cannot pay such amounts in advance,"" said CARDINAL. ""For QUANTITY exporters would have to pay the govenment CARDINAL CFA (francs).""
Some up-country buyers said they would avoid the tax by setting up as GVCs, tax-exempt buyers' cooperatives currently under government review for lack of accounting transparency.
""It would be easy to hire someone to set up on that basis,"" said CARDINAL trader, but cooperatives say laws under consideration could make such a move more difficult.
""Buyers might set up as GVCs but it will be harder in future. Accounting standards might be tightened DATE and licensing could be stricter,"" a ORG farm cooperative leader said.
Exporters say the law might not be implemented. ""It is possible. GVCs crop up and disappear overnight. There is talk of tightening up GVC management but no sign of it yet."" said CARDINAL.
The government has had problems identifying traitants because of the sporadic nature of their work and their locations, said CARDINAL international banker. ""Exporters usually know whom the buyers are as well as where they are,"" he added.
--Abidjan Newsroom + 225 21 90 90",1
"GPE accused GPE on DATE of pursuing hostile policies towards GPE and defended a campaign to boost patriotism as a shield against aggressive foreign forces.
""In DATE GPE has pursued antagonistic policies toward GPE,"" said the official ORG, mouthpiece of GPE's ruling ORG.
""GPE media circles have spared no effort to attack and sully GPE,"" it said as disarmament talks between NORP and GPE officials entered DATE in GPE.
GPE Undersecretary of ORG PERSON began talks on arms proliferation in the NORP capital on DATE, part of a visit seen as a vital step towards rebuilding ties long strained by disputes over trade, human rights, copyright piracy and GPE.
Both sides, however, say relations have warmed in DATE after a string of high-level meetings. But the NORP state press has continued to issue harshly worded condemnations of GPE policies and individuals seen as hostile to GPE.
In an angry reaction to an article in ORG on DATE by former GPE ambassador to GPE PERSON, ORG slammed the GPE media for unfriendly reporting that was harming vital cross-Pacific ties.
In his signed opinion piece, PERSON wrote that the loss of communism's appeal in GPE had left a vacuum that was being filled by nationalist xenophobia, but warned that nationalism was a dangerous road to take.
ORG said no such warning was required.
""(Some NORP) see NORP people's patriotism as being narrow-minded nationalism that will be catastrophic for the LOC and must quickly be discarded,"" it said.
Over DATE of abuse at the hands of imperial powers had taught NORP how to be patriotic without straying into blind xenophobia, it said.
GPE's NORP actions did not stop at thwarting GPE's bid to hold the DATE EVENT or at GPE threats over human rights, trade or nuclear proliferation, it said.
NORP feelings had been badly hurt by outrages such as GPE's dispatch of CARDINAL aircraft carriers to the seas near GPE in DATE, it added.
GPE sent the aircraft carrier battlegroups to monitor intimidatory war games and missile tests carried out by GPE near GPE in the run-up to the island's ORDINAL direct presidential elections, a decision that infuriated GPE.
""It is this kind of pressure from GPE and other Western countries that has inspired the enthusiasm of the NORP people's patriotism,"" ORG said.
""This kind of intense spontaneous reaction to interference by foreign forces is an ordinary manifestation of the NORP people's patriotism,"" it said.
""Only when the motherland is strong and prosperous can the interference and aggression of outside forces be fundamentally resisted and forestalled,"" it said.
Analysts say GPE is keen to boost nationalist sentiment in GPE to fill an ideological vacuum caused by the rush from strict communist values to a market-style economy.
Repeated calls for more patriotism have been accompanied by repeated state media diatribes against GPE and by a mass campaign for a return to orthodox socialist values.","ORG has a definitive agreement to acquire ORG, the ORDINAL-largest banking company in GPE, for MONEY, the companies said DATE.
GPE-based ORG will issue CARDINAL shares of its common stock and pay MONEY in cash in exchange for all theoutstanding Homeland common shares. Homeland shareholders may choose to exchange each of their shares for either CARDINAL ORG shares, a comparable amount in cash or a combination.
Magna said it will repurchase CARDINAL shares of the stock, under its current repurchase plan.
""We certainly will consider buy back programmes beyond that, but nothing has been approved beyond that,"" WORK_OF_ART, PERSON chairman, said in a news conference.
GPE, GPE-based ORG, with assets of MONEY DATE, owns and operates CARDINAL commercial banks and CARDINAL savings bank and provides financial services through a network of CARDINAL locations in GPE.
Magna, with MONEY in assets, is the ORDINAL-largest banking institution in the GPE metropolitan area and the nation's ORDINAL largest banking company. It has CARDINAL banking locations throughout GPE and GPE and a trust and brokerage company.
After the acquisition, PERSON would have PERCENT of its assets in GPE, PERCENT in GPE and PERCENT in GPE, LOC said.
The deal is subject to approval by GPE shareholders and regulators.
Magna said it expected the acquisition to boost earnings within DATE, and save MONEY through centralization of systems and procedures.
Some of the cost savings will come from job cuts, though those cuts could come from attrition, LOC said.
Homeland Chief Executive Erl Schmiesing said during the news conference that cuts were underway at GPE in any case as it consolidated.
Magna will continue to consider other acqusitions, possibly in GPE, LOC said.
""We certainly like the state of GPE,"" he said. ""We would certainly welcome the opportunity to expand in the state of GPE, as well as GPE and GPE.""
Magna is also among several GPE-based banks considered by analysts to be likely acquisition targets, a perception that did not change with the GPE acquisition announcment.
""It certainly doesn't make them any less attractive or likely as a takeover candidate,"" said PERSON, a banking industry analyst at ORG.
Homeland's stock rose $MONEY to $MONEY, while Magna edged down MONEY to $MONEY DATE on ORG.",0
"Shares in ORG fell on DATE as the stock market gave an initial thumbs-down to the appointment of an NORP woman publishing executive as chief executive of the NORP media group.
PERSON, DATE, chief executive of ORG that is CARDINAL owned by PRODUCT -- which publishes the ORG NORP business daily -- will succeed PERSON as chief executive at DATE.
Her appointment ends a long period of uncertainty over the succession to PERSON, DATE, who is retiring.
But market players were dismayed by her close ties with the PRODUCT group and the fact that a big name executive had not been brought in from outside to knock the business into shape.
""The message that this appointment puts across is that we can expect more of the same from the company. That's not what the market wanted to hear,"" said CARDINAL media analyst.
Pearson shares fell to a low of MONEY after the announcement. They recovered a little but still ended DATE lower at CARDINAL.
The company also announced that PERSON, a non-executive director, becomes deputy chairman now and will take over from PERSON as chairman DATE
Scardino said that she was not a PRODUCT insider.
""I would like to put that one to rest -- I am an outsider to PRODUCT,"" she told ORG.
She said that a trust agreement meant that PRODUCT directors remained in a minority on the Economist board. ""We jealously guard our independence, we're not a part of the PRODUCT group.""
Trained as a lawyer, PERSON helped her journalist husband to run WORK_OF_ART winning local DATE ORG in DATE. The couple moved to GPE in DATE where she headed the PERSON's NORP operation.
Share analysts say that her main task is to bring focus to PRODUCT, a sprawling media and leisure company which has a market capitalisation of MONEY (MONEY).
PERSON has reshaped the company in DATE in charge, selling off the FAC china business and wine and oil industry interests. The company has focused on CARDINAL divisions -- Information, Education and Entertainment. Its activities range from NORP soap opera to ORG and analysts say not all pieces of the jigsaw fit.
Scardino, a mother of CARDINAL, said she was prepared to make radical changes ""if needed"".
""I know this company has been broken up and put back together (by journalists and analysts) in all kinds of ways. I think I'm aware of all the possibilities.""
She won a ringing endorsement from ORG, her colleague as chairman of business publisher the Economist.
""I am sure that she will move quickly to assess the PRODUCT business and define a new strategic direction which she will set about implementing,"" he said.
""She has the appropriate experience of publishing and a background as a lawyer, as well as knowing the GPE and NORP environments ORDINAL hand, and has a great record of success in the PERSON's growing business and circulation.""
Revenue has increased by PERCENT in her time at trhe Economist while profit after tax has more than doubled to MONEY DATE from CARDINAL in DATE. ($MONEY Pound)","GPE posted a trade surplus of MONEY in DATE on DATE, lower than recent official projections but an about-face from predictions DATE of a trade deficit.
Exports were spurred by the government's faster payment of export tax rebates and an expansion of credit to exporters as well as by soaring trade by foreign-invested enterprises.
Exports for DATE totalled MONEY, up by PERCENT compared with DATE, the official ORG quoted customs figures as showing.
Imports were MONEY, climbing by PERCENT, the customs figures showed.
The customs figures did not specify trade in DATE alone, but the surplus for DATE of MONEY indicated that exports slid in DATE to give an estimated deficit for DATE of MONEY.
The surplus for DATE fell short of ORG provisional estimate DATE of a MONEY surplus. It was down from the MONEY surplus in DATE.
Many economists had forecast GPE would post a trade deficit for DATE, or at best achieve balanced trade, after it registered a deficit of MONEY in DATE.
The slow pace of government payment of export tax rebates to exporters in DATE coupled with the relative strength of the yuan currency had been expected to sharply cut exports.
Imports had been forecast to soar after GPE slashed import tariffs on CARDINAL items to PERCENT DATE.
However, imports grew more slowly than expected due to the elimination of many tariff exemptions in imports of capital goods for foreign-funded firms.
A government move to revive trade by sharply accelerating payments of export tax rebates in DATE along with a strong export performance by foreign-funded firms fuelled the surplus.
The trade volume of overseas-funded businesses increased by PERCENT in DATE, to MONEY, the customs figures showed. They gave no breakdown for exports. Economists have said most export gains were made by foreign-invested companies while GPE's state-run firms showed disappointing export records.
Foreign trade of state-owned businesses fell by PERCENT, to total MONEY, the latest figures showed.
GPE was GPE's largest trading partner DATE, with total trade hitting MONEY. GPE exported MONEY of goods to GPE, up slightly from MONEY in DATE.
Trade with GPE rose PERCENT to MONEY, customs said, but gave no details of the imbalance.
GPE figures show a ballooning surplus in favour of GPE, and this has become a thorn in GPE's ties with GPE. GPE has said it has a trade deficit with GPE.
Trade with ORG edged up PERCENT to MONEY.
GPE imported QUANTITY of crude oil, a rise of PERCENT from DATE and steel imports rose PERCENT to QUANTITY, the figures showed. ($MONEY = MONEY)",0
"ORG union unleashed CARDINAL local strikes against ORG truck operations DATE TIME in a bid to increase pressure for new national and local labor agreements.
CARDINAL members of ORG Local 23 walked off the job at ORG's GPE metal stamping plant at TIME, followed TIME by CARDINAL workers who struck the automaker's GPE, GPE, truck assembly plant.
The strikes threaten to paralyze much of ORG's light truck production, the automaker's biggest source of profits.
The GPE plant builds ORG's popular ORG, ORG and ORG sport utility vehicles. The GPE plant supplies doors, fenders, hoods and other sheet-metal stampings to CARDINAL NORP truck assembly plants.
ORG spokesman PERSON said the automaker had no formal response to the walkouts, but said negotiations were continuing DATE TIME.
ORG President PERSON raised the threat of local strikes on DATE after intense negotiations over DATE failed to produce an agreement. He also chided ORG for a lack of progress in local negotiations at individual plants.
The expiration of the ORG's national contract covering CARDINAL ORG workers on DATE meant that ORG locals were free to resort to strikes to get local issues resolved, ORG said.
""I'm the one who called this strike,"" ORG regional director PERSON said of the GPE strike. He added that the walkout was aimed solely at resolving local issues, which he refused to identify.
All of ORG's truck-related plants heen working heavy overtime in DATE, which has put a strain on workers.
""ORG are hard people to deal with,"" said PERSON, a worker at the plant. ""They don't like to give up anything.""
In GPE, ORG said in a statement that it also struck over local issues because CARDINAL bargaining sessions failed to produce an agreement.
Only a handful of ORG's CARDINAL locals have signed new local contracts with the automaker. The pacts typically cover items like work rules, staffing levels and health and safety standards, while the national agreement covers wages, benefits, job security and other broad issues.
Bargainers in the national talks reconvened at ORG's headquarters here DATE after DATE DATE.
Still on the table in the talks is the future of CARDINAL GPE parts plants that ORG considers uncompetitive, the company's top components executive confirmed DATE.
""We're talking about them in negotiations and I really don't want to talk about any labor issues at this time,"" said PERSON, president of ORG's ORG division.
PERSON told reporters at an automotive supplier conference here that none of the CARDINAL factories have improved their performance enough in DATE to be dropped from the company's list of troubled facilities.
ORG has refused to identify the plants, but the list includes a door hinge and hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE, that the automaker intends to sell. Together, the plants employ CARDINAL people.
The automaker wants to exclude several of the plants from the union's demand for employment guarantees. The ORG wants ORG to follow a pattern set by ORG and ORG and guarantee jobs for PERCENT of its ORG work force over DATE.
The strikes mark a major departure in ORG's bargaining strategy, which until DATE had been marked by unusual conciliation and virtually no threats of strikes.
The walkouts could help pressure ORG into a tentative national agreement before DATE, when the ORG's ORG is scheduled to meet in GPE. The CARDINAL-member council is made up of the top local officials from each ORG local and plant bargaining unit.
TIME in GPE, ORG Chairman PERSON told reporters that he hoped there would be no local strikes.
The walkouts also came DATE after ORG members returned to work following a DATE strike over the issues of job security and outsourcing, or the shifting of work to outside contractors.
ORG said DATE that CARDINAL workers in its GPE assembly, powertrain and stamping operations remained idle because of lingering shortages of NORP-made parts.
The automaker said it laid off CARDINAL workers at its GPE, GPE, metal stamping plant DATE, CARDINAL of CARDINAL such plants affected.","NORP furniture, whitegoods and computer retailer PERSON said on DATE it was trailing behind its target for PERCENT DATE sales growth and that cool DATE weather had impacted on DATE sales.
Managing director PERSON told ORG that DATE sales again grew by ""double digit figures"" on DATE DATE, but was not matching the robust growth the expanding company traditionally enjoyed.
Excluding sales from new stores, turnover in DATE, DATE, rose PERCENT, ORG said.  
""We are looking for a PERCENT increase (in CARDINAL), which will take us from MONEY, which we posted DATE, MONEY MONEY and at the moment we are falling short of that target,"" Harvey said in an interview.
He described the retail trading environment as the worst in the company's DATE history, but stuck to his earlier hope that DATE would compensate for a slow first half.  
Harvey declined to give a profit forecast but said the company was ""definitely not"" heading down the same path as retailers PERSON, Country Road Ltd and Just Jeans Ltd, all of which have announced steep interim profit downgrades.
""If we have a flat result or if we were indeed between flat and PERCENT down, we are going to be disappointed,"" he said.
""But I can assure you it's our belief that it won't be less than a PERCENT decrease on DATE and it's certainly our hope that it will be an increase on DATE profit result.
""But, again, because of the nature of our business, it's just too early to tell,"" he said.  
PERSON reported a dip in net profit after abnormals of MONEY in CARDINAL, but told shareholders at its DATE meeting in DATE it looked forward to strong DATE from DATE.
But managing director PERSON said DATE had so far been unseasonally cool in its east-coast markets, dampening sales of goods like air conditioners, refrigerators, fans, outdoor furniture and barbecues.
""That's really let us down more than anything else,"" he said. DATE and DATE are usually the firm's peak DATE.  
PERSON is still hoping for a heatwave, but hot weather has its biggest impact on sales before DATE when a lot of discretionary household expenditure is spent, he added.
The company is also pinning its hopes on a turnaround in consumer spending in DATE to enable PERSON to reach its PERCENT sales target, but ORG said there appeared to be little joy on the immediate horizon.
""Through DATE we were basically saying it's got to turn in DATE calendar year, but at moment there's nothing to indicate that's going to happen...,"" he said.  
""My view is that DATE starting DATE it will be a better year than DATE and DATE, but in terms of when it will actually start to turn, we are hoping...it will be DATE,"" Harvey said.
""I don't think we are going to see much joy in DATE, but it's our hope that things will turn come DATE, DATE, DATE,"" he said.
-- ORG 613-9286-1421",0
"ORG said DATE that its ORG division will file suit DATE in GPE ORG here against ORG, ORG and its Chairman PERSON, alleging antitrust violations.
ORG, which is led by media mogul PERSON, said the suit will allege that an antitrust conspiracy to block ORG in GPE has taken place prior to the still-to-be consummated merger.
""The suit will allege that the conspiracy has taken place prior to the still-to-be-consummated merger,"" PERSON, ORG Group General PERSON, said in a brief statement. ""The suit also charges ORG with breach of contract and fraud in reneging on its agreement to carry ORG in GPE.""
Locked in a bitter campaign to win GPE channel space for its ORG service, ORG on DATE urged city officials to void cable-TV franchises with ORG
ORG executives told city officials at a hearing that the pending merger of ORG and ORG constituted a change of control of ORG cable systems in GPE and allowed early rebidding for the valuable franchises.
ORG holds city cable-television franchises serving CARDINAL NORP that are due to expire in DATE.
Time Warner, which denies the merger constitutes a change in management control, has refused to carry the TIME ORG service and instead carries CARDINAL ORG services owned by ORG, and ORG, a joint venture of ORG ORG and ORG
ORG and ORG are expected to merge on DATE, creating the world's biggest media organisation. ORG Chairman PERSON will become vice chairman of the new company and will be the company's biggest shareholder.
Time Warner is also opposing a proposal backed by GPE Mayor PERSON that ORG be carried on a city-owned channel known as ORG.
Giulani has said that wide dissemination of ORG throughout GPE was important since it was the only all-news channel based within the city and was the source of CARDINAL of jobs.
The city's ORG is scheduled to vote DATE on whether or not the ORG deal should prompt a review of ORG franchises.
ORG executive PERSON said DATE that PERCENT of the regulators overseeing ORG cable operations, the ORDINAL largest in GPE, had passed without objection on the ORG merger.","ORGamp; ORG  agreed DATE to buy over-the-counter market-maker Nash, ORG, another step by the pioneering discount broker into low-profile but lucrative financial-services businesses.
Terms were not disclosed, but CARDINAL sons of co-founder PERSON said in an interview that the acquisition of the GPE firm was by far the biggest deal ORGamp; Reilly has done.
Nash, ORG buys and sells on behalf of retail brokerages CARDINAL stocks listed on the ORG over-the-counter electronic market.
Among the top CARDINAL independent ORG market makers, GPE, ORG profits on the spread, or difference between prices the seller and buyer get. It employs CARDINAL people, ORGamp; Reilly said.
The biggest Nasdaq market makers are subsidaries of big financial firms.
""This gives us another major leg,"" said PERSON, head of the company's ORG subsidiary. ""We expect this Nasdaq market maker business to be a ORDINAL leg for us.""
Best known as a retail broker, ORGamp; Reilly is also a significant force through ORG in backroom processing of Wall Street trading and owner of ORG, the ORDINAL-largest market-maker, or specialist firm, on ORG.
""The deal really plays well with ORGamp; ORG as whole,"" said ORG analyst PERSON. ""With ORG it gives GPE, ORG a lot of potential for going after instutitional clients.""
ORG said the acquisition may be the start of a flurry of deals involving market-makers in ORG stocks as reforms in pricing threaten to narrow the often wide spreads on ORG stocks. Investors have complained that the price differences can amount to PERCENT or more of a stock price.
PERSON, president of the firm, said ORGamp; Reilly with Nash, ORG would court institutional clients by adding to its roster of CARDINAL securities in which it makes markets.
""That number will probably go to CARDINAL,"" PERSON said.
The brothers, whose father, chairman PERSON, co-founded the firm in DATE, said the mightily improved  capitalisation of GPE, ORG after the merger with ORGamp; Reilly will make it much more attractive to large institutional clients.
PERSON said the leading market-maker for institutional clients had capitalisation of MONEY, or CARDINAL times or more that of GPE, ORG. ORG said ORGamp; Reilly had capitalisation of MONEY.
The brothers said they expect revenues at GPE, GPE to rise dramatically as long as stock trading remains robust, and may even double by DATE.
Nash, ORG will be run as a separate subsidiary remaining in GPE, GPE, and no job cuts or restructurings were planned, the brothers said.
Co-founder PERSON serves as chairman and chief executive of the firm, which was the ORDINAL to offer discounted commissions on ORG-listed stocks after fixed trading commissions were abolished in DATE.
Based in GPE, GPE, the firm is still largely controlled by the Quicks and has CARDINAL brokerage offices across GPE.",1
"NORP property company PERSON is unlikely to crumble under pressure from rebel shareholders who want it broken up or succumb to a merger approach from smaller rival ORG, analysts said on DATE.
""I don't think they are on the critical list in any sense or meaning of the word,"" CARDINAL analyst said.
A proposal to sell-off PERSON's assets is due to be put to shareholders at a special meeting on DATE. It has been put forward by ORG, which is advised by rebel shareholder PERSON Active Value Advisers.
GPE Active Value Fund bought its PERCENT stake in ORG DATE, rescuing it from receivership. But PERSON's relationship with the firm's management has not run smoothly.
The NORP financier's challenge to the PERSON management has also triggered a proposal by PERSON involving a share exchange offer for the larger PERSON, which has so far dismissed the approach.
PERSON said in a statement on DATE that it had ""developed a proposal to add value for all shareholders through a strategy of more active management of the assets of PERSON"".
It said this had been presented to some of PERSON's larger shareholders, accounting for PERCENT of the shares, and an approach had then been made to PERSON's chairman.
They include merging the CARDINAL companies by a share exchange and restructuring the assets of the enlarged group.
This would involve a LOC portfolio made up initially of PERSON's main assets, WORK_OF_ART and CARDINAL FAC, which would later be demerged.
PERSON also intends setting up a portfolio of ""investment and development property earmarked for immediate disposal to a major property company"".
The remainder of the enlarged group would constitute ""an investment, trading and development portfolio"" and there would be a reorganisation of the management structure to reduce costs by ""MONEY (MONEY) per annum"", PERSON said.
While analysts agreed the PERSON plan was unlikely to succeed, some said there was an opportunity for PERSON to take over another company with higher profitability so the combined company could capitalise on PERSON's favourable tax position.
""But they are not going to be flushed out by DATE,"" a ORDINAL property analyst told ORG, adding that CARDINAL or CARDINAL companies had looked ""very seriously"" at the possibility of joining with PERSON.
Another possibility would be a larger group such as ORG sweeping up PERSON, although such an outcome seems remote in the short-term, analysts said.
PERSON's proposed sale of PERSON's GPE property assets is seen by some as an unwise ""forced sale"" which would not achieve shareholder value in what is an improving market.
""Generally speaking a forced sale of their assets would not gain anything in the short term,"" the ORDINAL analyst said, adding that with rental growth starting to show through, it made sense to hold onto PERSON's CARDINAL largest properties.
""They are vulnerable to any change in market conditions, but it would be a mistake to be forced into a corner and to sell something in a relatively short timescale. It would be totally counterproductive,"" he added.
But others said the time was right to sell off PERSON's largest assets. ""This is exactly the right time of the cycle (to sell,"" the ORDINAL analyst said.
Greycoat shares closed MONEY higher at MONEY while ORG shares were unchanged at MONEY. ($MONEY Pound)","ORG preliminary restructuring agreement may help the consortium become more efficient, but poses no near-term threat to ORG market dominance, industry analysts said DATE.
Although details of the ORG agreement were not revealed, it appeared to represent a step forward from DATE announcement that the CARDINAL-nation consortium would be transformed into a single corporate entity by DATE.  
""I think it's a step in the right direction,"" said PERSON of ORG. ""They have a good franchise and they are going to be a contender.""
Pressure on ORG to act has increased since DATE stunning news that ORG plans to acquire ORG, its last remaining GPE rival in commercial jets.
Analysts say ORG needs to streamline its unwieldy management structure to have any hope of competing with highly centralized and rapidly expanding ORG, which has access to enormous resources and the ability to subcontract work around the world.  
""If they are much more like a private company than they are now, certainly it would be to their benefit,"" said PERSON, an analyst at ORG.
Officials at ORG, which controls PERCENT of the worldwide market for commercial jets, compared with PERCENT for ORG, said they welcomed the news.
""We welcome an ORG reorganization that would make its financial arrangements agree with generally accepted accounting principles and become transparent to public scrutiny, which includes the publication of regular financial statements,"" a ORG spokesman said.  
He added that ORG officials expect any reorganization would ""further remove ORG operating decisions from government control and influence.""
Demisch believed the latest ORG agreement would enable the consortium to better integrate aircraft development, although manufacturing would still be done by the CARDINAL member companies.
The consortium members are NORP state-owned ORG, ORG, ORG aerospace unit and ORG (ORG) of GPE.  
He said ORG's success as a multinational should position it to compete in areas beyond its core commercial jet market such as defense and space.
While the ORG restructuring is aimed in part at raising the MONEY needed to launch its planned A-3XX jumbo jet, ORG officials have aggressively disputed the market projections put forward by the consortium.
ORG, which is mulling a possible stretch version of the PRODUCT, says the market for a super-jumbo jet is barely big enough for CARDINAL player, much less two. And ORG says an all-new jet would cost far more than the MONEY ORG projects.
Meanwhile, ORG recently postponed a decision on a far cheaper plan to stretch its A340 model to compete with the sallest PRODUCT and largest CARDINAL models.
((-- ORG GPE bureau CARDINAL-386-4848))",0
"ORG, which won control of leading NORP hotelier Forte DATE, on DATE reaped the fruits of its victory when it posted a PERCENT rise in DATE profits to MONEY (MONEY).
Media and leisure group ORG said that it was on target to keep a promise made in the heat of the takeover battle by boosting profits at PERSON by over 100 million pounds per annum from DATE.
It said it had already achieved MONEY in profit improvements at ORG. Such rapid progress lifted the pre-tax, pre-exceptional profits to that QUANTITY figure, topping most share analysts' expectations.
Turnover in DATE grew by PERCENT to MONEY as ORG grafted on PERSON's hotel and roadside restaurant businesses.
Total dividend was raised by PERCENT to CARDINAL per share.
""The key has been the speed with which we have been able to move on the PERSON businesses,"" said chairman PERSON.
Granada took over family-controlled PERSON in a QUANTITY deal DATE after a bitter bid battle that raged over DATE and EVENT period DATE.
Analysts were surprised at the lacklustre reaction to ORG's strong results and an upbeat statement in which it said that trading had been encouraging in DATE of its new financial year.
The shares, which had gained in DATE in anticipation of bumper results, slipped CARDINAL to PRODUCT by TIME in a generally gloomy market.
""ORG is a cheap stock on fundamentals and is backed by good management,"" said PERSON of ORG.
Granada, which runs CARDINAL NORP commercial television stations and a chain of high street rental stores, continues to reorganise following its acqusition of Forte.
It hopes to complete the sale of a group of top international hotels and the disposal of the Welcome Break chain of NORP motorway service areas in DATE.
Analysts expect the hotels to raise a total of QUANTITY and the service areas a further CARDINAL-400 million pounds. That would help cut net debt from MONEY.
Granada sold the ORDINAL of the CARDINAL PRODUCT hotels on DATE when GPE based ORG bought GPE's FAC for MONEY.
But ORG said ORG planned to retain its PERCENT stake ORG holds in pay television operator ORG. That investment is worth MONEY.
The largest contribution came from the ORG division, which boosted profit before interest and tax by PERCENT to MONEY on turnover which rose PERCENT to MONEY.
The new ORG unit contributed CARDINAL while ORG made CARDINAL, up PERCENT. Profits from the high street rentals arm were marginally higher at CARDINAL. ($MONEY Pound)","NORP media and leisure firm PRODUCT, awaiting the arrival of a new chief executive, enjoyed a stock market rally on DATE after a trading statement which analysts said contained no nasty surprises.
Pearson shares had gained CARDINAL to CARDINAL by CARDINAL ORG as a steady trading statement confounded the pessimists who had pushed the shares down to DATE lows on DATE.
PERSON will take over as ORG chief executive from DATE, becoming the first woman to head CARDINAL of GPE's top CARDINAL companies.
Scardino, who is moving from the PERCENT Pearson-owned ORG, is on record as saying that ORG's profit performance is not good enough.
Many share analysts say that PRODUCT has yet to complete its DATE journey from industrial conglomerate to focused media company and that disposals are likely.
They believe PERSON may sell off the company's merchant banking interests and its ORG theme park and exhibition unit but they expect her to take her time before beginning to mould the company in her image.
PRODUCT has a PERCENT stake in GPE merchant bank ORG and PERCENT holdings in ORG in GPE and GPE.
The Tussauds portfolio includes GPE's famous ORG waxwork exhibition and theme parks such as ORG in the GPE and FAC in GPE.
There was a sense of relief after PRODUCT, which has interests ranging from newspaper and book publishing to television, said that trading conditions in DATE of DATE were in line with those of DATE.
""All in all, it's in line with expectations but that in itself is good as the last few trading updates from the company have been disappointing,"" said PERSON of brokers Panmure PERSON.
ORG said that total video retuning costs associated with the launch of the Channel CARDINAL terrestrial television channel DATE would rise to MONEY (MONEY).
This is almost treble the sum initially earmarked for dealing with video recorders affected by interference from the new channel's signal. But it is below the figure quoted in some recent media reports.
Channel 5 has recently been awarded an extra frequency to boost its coverage to PERCENT of the country and ORG said its business plan showed significantly higher rates of return than in the original bid.
ORG said the retuning costs and a major film deal with ORG would come out of the QUANTITY original funding agreed by the Channel 5 shareholders. The other shareholders are GPE's ORGamp; GPE, GPE investment firm ORG and GPE broadcast group ORG.
This DATE's losses from Mindscape, ORG's ailing GPE consumer software unit, should be in line with earlier forecasts of MONEY. PRODUCT also saw no real impact on its DATE profits from the current strength of sterling.",1
"GPE tried to backtrack on DATE from a warning to GPE people on limits to their freedom of expression after the territory reverts to GPE rule in DATE, saying liberties would remain but within the law.
""GPE people will have full freedom of expression, but all freedoms must be within the limits allowed by law,"" ORG spokesman PERSON told a news briefing.
His remarks followed an interview with Foreign Minister PERSON by ORG in which PERSON hinted that GPE would no longer be able to mark the anniversary of GPE's DATE, crackdown on student-led protests.
PERSON's interview stirred an outcry in GPE, where GPE has pledged a high degree of political freedoms for DATE after the handover on DATE, and not to change its current capitalist system.
""GPE has obviously inflicted a fair amount of political damage in GPE, it is now trying to undo some of that damage,"" said CARDINAL GPE analyst.
Shen said GPE residents would have freedom of the press and freedom of speech but such liberties would have to operate within the boundaries of the law.
""Any activities held in GPE must be in accordance with legal regulations,"" Shen said.
""GPE should not interfere in mainland GPE's affairs by organising some political activities to attack the mainland's internal affairs,"" he said.
Shen said the territory, a NORP colony for DATE, would maintain its capitalist system after it returns to mainland control at DATE.
""After DATE, there will be no changes to our CARDINAL nation, CARDINAL systems policy, the GPE people will rule GPE,"" he said. ""In our words, well water does not intrude into the river water.""
GPE newspaper reports that interpreted PERSON's remarks as a ban on activities in the territory to commemorate the DATE crackdown were wrong, Shen said.
""GPE opinion has misinterpreted PERSON's remarks,"" Shen said, adding that GPE had not altered its pledge to maintain GPE current political and economic system unchanged under NORP sovereignty.
A transcript of PERSON's interview showed he was specifically asked to say what activities would not be allowed and whether the DATE commemoration was among them. PERSON replied that he was referring to just such activities.
Shen said people would be free to criticise GPE but said they should be careful in commenting on NORP leaders.
""If some media make personal attacks on other people or on our leaders, this touches on news ethics,"" Shen said without elaborating.
""Except for national defence and foreign affairs, the central government will not interfere (in) any activities of the GPE special administrative region's government, and GPE should not interfere in mainland internal affairs,"" Shen said.
Shen said dissidents in GPE would be free to travel outside the territory but should respect local laws while in GPE.
""GPE dissidents in GPE will have the freedoms to go and stay, but if they stay there, they must act in accordance with local laws,"" Shen said.","The CARDINAL partners of the ORG consortium on DATE signed an agreement aimed at making the NORP plane maker a unified company better able to compete with ORG
In a statement, ORG said its CARDINAL NORP partners had signed a memorandum of understanding to restructure ORG into a limited liability company by DATE.
""The establishment of ORG as a single corporate entity (ORG) is an important initial step in the consolidation of the aerospace industry within LOC,"" ORG said.
Toulouse-based ORG is currently a partnership between NORP state-owned ORG, ORG, ORG Aerospace(DASA), and PERSON) of GPE.
The NORP and NORP both have PERCENT, ORG and NORP company PERCENT.
The new entity will have a single management structure which should add control of engineering, testing, production, procurement and customer service to ORG's current responsibilities for marketing, sales and product support, it said in a statement.
""Transfer of assets associated with these functions... will depend on how far the assets are essential for the described functions and their detailed valuation, to be completed by DATE,"" it said.
""The ultimate objective is the restructring of the entire NORP (aerospace) industry, of which ORG in CARDINAL element and not the integrating entity,"" PERSON chairman PERSON told the FAC newspaper.
""ORG will be made a single company before DATE with a shareholding strictly the same as now,"" he added
Currently ORG is mainly a sales and marketing organisation with the CARDINAL partners manufacturing the planes.
ORG ORDINAL announced a preliminary agreement in DATE. The CARDINAL partners decided DATE to turn ORG into a corporation to streamline decision-making and production.
These restructuring plans took on a more urgent tone after ORG and ORG said in DATE they would merge and form a civil and military giant with MONEY in DATE sales.
ORG said in its statement that the restructured company would facilitate continuing improvement in overall operational efficiency, the introduction of new international strategic partnerships and the longer term opportunity for ""external participation"" in ORG.
ORG spokesman PERSON said that these options included a future stock market listing of ORG.
ORG said that the restructured company ""presented a great opportunity for business growth both for its existing shareholders and its future partners.""
It said ORG was studying expansion of its product range with an aircraft in the CARDINAL seat category, with GPE  ALEI.RO of Itlay in co-operartion with ORG of GPE and ORG.
It is also mulling derivatives of the CARDINAL-engined A340, the A340-500 with a range of QUANTITY and the A340-600 with seating capacity of close to CARDINAL seats.
In the high-capacity long haul market it is planning to launch the A3XX, which would break the stranglehold on the lucrative top-end of the market now held by ORG's PRODUCT jumbo jet.
ORG is also pondering work on ORG (ORG), a military transport aircraft to match the future needs of LOC, next to its civil work.
ORG said it expected its wing development and production operations, employing CARDINAL people, to be transferred to ORG.",0
"ORG, ending weeks of speculation, said DATE that its board elected PERSON, chairman of printing company PERSON and Sons, as its new president, chief operating officer and heir apparent to Chairman PERSON.
The giant communications company said that PERSON, DATE, was unanimously elected DATE TIME to the CARDINAL management posts and as a member of the board, effective DATE.
""I'm confident PERSON brings leadership qualities that will make the new ORG successful, not only in the hotly contested long-distance market, but across the whole range of rapidly growing communications services,"" Allen, DATE, said in a statement.
Industry analysts, however, were stunned that ORG had not chosen a better-known executive. They were also concerned that an DATE handover would not lead to a quick enough change in strategy.
AT&T stock fell MONEYMONEY in heavy volume on ORG, where it was among the most active issues in TIME trading. Adjusted for the split off of ORG, ORG shares have fallen PERCENT DATE -- about the same as the broad market has risen.
""This (PERSON) is not a candidate to lead the rally,"" said analyst PERSON of SBC Warburg.
""I was expecting DATE (handover) at most,"" said PERSON, an analyst at consultancy ORG, and a former ORG executive. ""I think most insiders were, too.""
The president and ORG posts were left vacant after PERSON resigned suddenly in DATE to head a small, new wireless company, ORG.
ORG said its board considered a number of candidates but quickly focused on PERSON because his track record at GPE-based ORG, the world's largest commercial printer, fit well with the challenges at NORP
""He's transformed a large, old-line company challenged by new technologies and changing markets into a tough global competitor. Meeting those challenges is what leading the new ORG is all about,"" PERSON said.
Allen said that starting in DATE he and PERSON would split the duties of chairman and chief executive, with PERSON becoming chairman DATE.
""The board and I have every expectation that John will become chairman and CEO of ORG,"" PERSON said.
PERSON, who joined ORG in DATE as a trainee, held numerous positions in the publishing and information company, becoming chairman in DATE.
""During DATE of his operational leadership, PERSON steadily increased revenue, earnings and cash flow in an industry experiencing little growth,"" ORG said in its announcement. ""It also transformed itself.""
DATE Donnelley is a global leader in managing and distributing information -- from magazines to software disks and online services.
Expectations of an early end to PERSON's career were heightened when the company warned in DATE that its earnings would be weaker than expected.
ORG's operating profits of MONEY, or MONEY a share, for DATE were off PERCENT from MONEY, or MONEY a share, DATE. The drop in operating profits came as increased competition and higher marketing expenses hit the cmopany's core long-distance phone business, while financial services sank into losses.
Industry analysts had speculated that PERSON would surrender the role of chief executive, rather than chairman, to the new candidate and retain his chairmanship until nearer his retirement.
Analyst say top candidates, like PERSON of Eastman Kodak, may have been put off by the lengthy transition time to the top job while PERSON remains in charge.
""I heard the reason Fisher taker didn't take the job was the DATE delay before taking the reins,"" said consultant PERSON of ORG.
However, a source close to ORG, speaking on condition of anonymity, said no tentative or firm offers were made to any candidates who subsequently withdrew. ORG declined to comment.","ORG said on DATE its MONEY merger with ORG will give the combined company great strength in international calling, consulting and in GPE local calling.
""Collectively we have the size and strength to compete with any telecommunications company in the world,"" ORG Chief Financial Officer PERSON told ORG in an interview.
GPE, also a director at the new combined firm PERSON, said putting together ORG's ORG with ORG's Syntegra would give huge power in consulting and systems integration.  
""This is a scale game and this really positions us to compete with the likes of ORG (ORG ) and Andersen (Consulting)..."", GPE said.
Analysts agreed ORG had a lot to offer BT in consulting.
""BT is getting its lunch eaten in GPE systems intergration,"" said PERSON of consultantcy ORG.
GPE predicted the deal could help hasten the end of the creaking international settlements system, which restricts the carriers and rates used on most of the world's international call connections and which keeps calls expensive.  
""It positions us to take advantage what will probably be the coming collapse of the international correspondent relations market, which is the settlement system..."" he said.
The system is under siege because of liberalization is opening up domestic markets in several key countries like GPE, and new carriers domestically will want to get into the international calling market too.
Analysts say that the more the international market opens up, the more calling rates for customers will fall.  
GPE said there is big money to be made in the MONEY a year GPE local market as well, partly through ORG, ORG's business market local calling subsidiary.
""If you want to look at return on capital there is no better investment ORG could make than investing in the local market where we have PERCENT EBITDA margins,"" GPE said.
EBITDA is earnings before interest, taxes, depreciation and amortization.
""BT will invest through ORG into the local market and earn considerable returns on the capital, far more than I believe they could investing in their own market,"" GPE said.  
He also expected that ORG's aggressive management team would be a great asset to ORG, particularly in the GPE market.
GPE said that on top of all the business advantages there would be a great deal of money saved by cutting out overlaps and inefficiencies between the CARDINAL companies.
""Financially we have the synergies...MONEY over DATE,"" GPE said.  
GPE, who will be getting a board position at ORG, said that he was determined to make sure that investor relations (ORG) efforts were kept up in the GPE to avoid the shareholder base switching over too much to the GPE
""I believe its partly a result of the fact that the sell-side analysts who tend to follow the company tend to be those in the larger company. When you lose the sell side analysts you lose the involvement of the institutional sales forces,"" GPE said.
ORG's PRODUCT said that the new company would tighten up a lot of areas which didn't work in the existing PERCENT stakeholding partnership.
""Huge area will disappear now, where they had been duplicating effort,"" said PERSON. He saw it as the right decision, and a brave one to make the partnership work.
""Now there will be no excuses,"" he said. -- GPE CARDINAL 859 1610",1
"The crackdown on GPE's young stock markets has triggered huge losses in share values and highlighted problems, particularly widespread irregularities and the lack of a regulatory structure, analysts said on DATE.
DATE of losses on the exchanges in the wake of a GPE warning on speculation was also a re-run of the age-old NORP boom-and-bust cycle: controls are relaxed, rule-breaking surges, the screws are tightened and the machine almost breaks.
""Widespread irregularities are partly a legacy of the old planned economy,"" said CARDINAL economist. ""But given the power of administrative edicts to influence the markets, some firms have no choice but to resort to irregularities to survive.""
The sudden announcement of GPE's wrath at the unruly stock markets, expressed in a ORG commentary on DATE, aimed to dampen speculative trading, but ironically could have the opposite effect, some analysts said.
""Policy changes have always been a key speculative topic on GPE's stock markets,"" said CARDINAL trader. ""To regulate the markets with official orders like this time might temporarily depress the speculative mood, but in longer term, it will further add weight to the speculative fever on policy shifts.""
Market sources said that had GPE used market means rather than administrative edicts to check the dangerous roller-coaster trend in share trading, the response of the markets would have been much less volatile.
As it was, GPE's domestic A share index plunged PERCENT to CARDINAL points at the close of DATE's trading against DATE's close DATE, while the foreign currency B index was down PERCENT to CARDINAL points.
In GPE, the A share index nosedived PERCENT on DATE to CARDINAL points, while the B index lost PERCENT to CARDINAL.
""Most investors are pessimistic about the short-term trend with turnover sharply down DATE,"" said CARDINAL broker. ""We had nearly no new accounts opened DATE.""
""The inflow of fresh money into A shares has almost stopped completely,"" a GPE-based trader said. ""Many investors are in despair seeing the price of their shares diving DATE.""
Analysts said the dramatic changes DATE sparked reflections on the bust-boom cycle which has dominated GPE's stock markets since they were re-established in DATE.
At its height, GPE's A share index had surged PERCENT and its GPE counterpart PERCENT since DATE when GPE announced that it supported stock market development.
""The markets are poorly regulated,"" said CARDINAL stock analyst. ""CARDINAL of the reasons for this is the lack of a national securities law governing the stock market.""
The draft Securities Law, the topic of hot debate in the corridors of power in GPE for DATE, is not expected to be enacted soon, analysts say.
Irregularities, including manipulation of selected share prices, have been rife in the NORP markets for DATE.
In an effort to bring the industry to heel, authorities over DATE have punished branches of nearly all major state-run banks and securities houses for involvement in shady stock dealings.","GPE's state debt has become the top investment choice among local investors in DATE, thanks to a slew of market reform measures, but further reforms are needed to ensure a continued boom, analysts said on DATE.
GPE ended a record issue of MONEY (MONEY) worth of treasury bills and bonds for DATE DATE when it allocated the last batch of the DATE bond to underwriters.
Analysts said the instruments had become best sellers DATE mainly due to reforms of the process for issuing treasury bills and bonds.
""The most important has been the widespread adoption of a public tender system,"" said CARDINAL T-bill trader. ""This has made the coupons on state debt more reflective of market changes and needs.""
GPE had, in the past, allowed ORG to decide the coupon rates and use adminstrative edict to allocate state debt to banks and other financial institutions for them to sell. But DATE, the ministry organised public tenders for each new bond issue.
Under the new system, PERCENT of each new batch was distributed to bidders according to the interest rates and amounts lodged by the bidders in public tenders. The rest was distributed according to adminstrative decision.
The coupons were largely based on the weighted averages of the valid bids at the public tenders, but industry sources said the ministry also ""fine-tuned"" them to some extent to come up with the final rates.
""The ministry usually raised the coupons to some extent to make it easier to sell the state debt,"" said CARDINAL source. ""This resulted in many underwriters retaining the bonds themselves to gain easy profits when the bonds were listed.""
""Individual investors were in many cases disappointed when they were unable to buy the bonds even after standing in line for TIME,"" said a ORDINAL T-bill trader. ""This hurt their enthusiasm, with institutions making most of the profits.""
Analysts said there is room for further improvement in the government's method of issuing debt.
They said they want to see a reduction in the proportion of the bond issues held back from the public tenders.
Another improvement would be if the ministry used market means to encourage the underwriters to sell a greater proportion of the bonds they obtained, and not hold them on their own account, the analysts said.
However, the market's maturity spectrum expanded as its popularity grew. A greater variety of bills and bonds have been issued DATE -- DATE, DATE and DATE issues have been added to the traditional DATE, DATE, DATE and DATE bonds.
Also, discount bonds, sold at below face value with the pay-back at face value on maturity, were introduced for the ORDINAL time.
Yet another innovation was the payment of interest on an DATE basis instead of on maturity, for the ORDINAL-ever DATE bond and the DATE bond.
""This method of payment allows investors to re-invest their interest and has been widely welcomed,"" said PERSON, a T-bill trader with ORG. ""Its success is likely to lead the central government to use it more and more in future bond issues.""
Chinese analysts believe GPE will issue a new record amount of T-bills and T-bonds DATE, probably MONEY.
But they said this amount as a proportion of GPE's gross domestic product is still below that of advanced western countries.
($MONEY = MONEY)",1
"ORG, demerged from ORG in DATE, said on DATE it's future was bright although NORP market growth was tough due to escalating taxes on cigarettes.
""In GPE it is difficult to see the market growing given the punitive taxes. We are likely to see continued strong growth, though, in LOC of the world,"" chief executive PERSON said in an interview.
ORG posted trading profits of MONEY (MONEY) from GPE in DATE, unchanged from its DATE level, but profits from overseas grew PERCENT to CARDINAL.
Overall group profits before tax for DATE were up PERCENT at MONEY. The company's shares rose CARDINAL-1/2p to CARDINAL-1/2p.
GPE's Finance Minister, PERSON, announced an increase of CARDINAL on a packet of CARDINAL cigarettes in his DATE budget.
After a similar rise in DATE, NORP cigarette sales fell by PERCENT and PERSON said he expected the same sort of fall again.
He said the latest tax rise would fuel smuggling by widening further the gap between taxes in GPE and mainland LOC.
The company's profits from overseas, which now make up PERCENT of total group profits, are targeted to reach PERCENT by DATE, said PERSON.
""I think we are in a world market which is still in growth, albeit modest, and ORG is a relatively late entrant to international markets and has tremendous potential to exploit its brands internationally.""
In DATE, ORG's set-up costs in emerging markets were QUANTITY before falling to CARDINAL that in DATE, said PERSON, and its overseas investment is likely to remain at around that level DATE until DATE.
He said the company was confident of its defence against CARDINAL lawsuits bought in GPE by people who allege their health has been damaged by smoking its products.
""We have very strong defences and great confidence in those defences and we will defend each and any claim aganst us with the upmost vigour.""
CARDINAL case involving CARDINAL plaintiffs is the ORDINAL in GPE where their lawyers, who have been denied legal aid, are working on a no win, no fee basis, a common practice in GPE. ($MONEY Pound)","Shares in NORP-Dutch consumer group ORG jumped on DATE after the group posted a better-than-expected PERCENT rise in DATE profits.
The company announced that profits rose to MONEY (MONEY) for DATE, boosting the share price by CARDINAL to CARDINAL by the official close of the GPE market at DATE ORG.
""I gritted myself for something rather unpleasant and its turned out very well,"" said PERSON, an analyst at ORG.
The results beat analysts' forecasts which ranged from MONEY to CARDINAL.
""I think there is quite a lot of momentum in ORG and that is before the benefits of management reorganisation which began in DATE,"" said PERSON.
Before an exceptional charge of MONEY, mostly to reshape PERSON, its newly acquired industrial cleaning business, pretax profits rose PERCENT to MONEY.
""The total charges were clearly lower than we expected,"" said PERSON, an analyst at ORG. He had forecast a total restructuring charge of MONEY with CARDINAL of that related to PERSON.
PERSON, acquired in DATE from NORP brewer PERSON for MONEY, was merged with Lever Industrial in DATE to form a combined business with DATE turnover of MONEY and a workforce of CARDINAL in CARDINAL countries.
ORG owns a range of household brands including ORG washing detergents, PERSON tea, NORP cosmetic cream and PERSON and ORG frozen foods.
""Although poor weather had a negative effect on ice-cream sales, other parts of the business in LOC did well,"" said ORG press officer PERSON.
Analysts and stock market dealers agreed. Despite the impact of DATE on ice-cream sales and profits, ORG still managed to improve its profit by MONEY to CARDINAL in DATE period from improved profits in detergents, frozen foods and personal products.
""The real strength came from the emerging markets of LOC and LOC and the strong underlying performance in LOC,"" added Haines.
The Asia-Pacific region turned in a QUANTITY increase in profits to CARDINAL in DATE, LOC was up MONEY at CARDINAL, while LOC and LOC showed a CARDINAL rise to MONEY, reflecting changes made by the group to its NORP business.
($MONEY Pound)",1
"NORP merchant bank PERSON, under fire from a rebel GPE shareholder calling for its breakup, reported a return to DATE profit on DATE and said the benefits of restructuring should begin to show through.
""We have great confidence in ourselves and what we are trying to do,"" Sir PERSON, the group's chief executive, said in an interview.
He dismissed efforts by GPE investment manager ORG, which holds PERCENT of PERSON, to break up the firm in an attempt to realise shareholder value.
""Regent is a PERCENT shareholder and is perfectly entitled to (its) views. We are perfectly entitled not to share them,"" PERSON said.
PERSON reported pretax profits of MONEY (MONEY) for DATE, compared with a QUANTITY loss for DATE.
Some analysts had forecast pretax profits of QUANTITY based on a strong performance by PERSON' estate agent subsidiary ORG.
They also predicted an interim dividend range of CARDINAL. In the event the dividend was unchanged at MONEY.
PERSON is among a dwindling list of NORP investment banks which are the constant subject of takeover speculation. However, it has been seen as one of the less attractive targets due to recent poor performance and major provisions for bad debts.
Bad debt provisions for the period were MONEY compared with CARDINAL in the same period in DATE.
Asked about the possibility of PERSON becomin a takeover target for a larger international player, ORG said a public company was always in the firing line but he was happy with the group's direction.
While he could not talk for shareholders in the group, PERSON said he had the impression from discussions with them in the wake of LOC move that they were supportive of changes the company had implemented.
PERSON said the group was on track to replace ""low margin vanilla business"" with increased return per customer business. It had decided the best strategy was to undergo major upheavals for DATE rather than piecemeal changes over a longer period in order to achieve this.
PERSON, who forecast the benefits of the changes could take DATE to come through, said he was pleased the group had moved back into profit, adding that ORG result had been particularly good.
But PERSON chairman Lord PERSON warned that profits from this part of the business were not expected to match DATE in the rest of DATE.
However, he expected ""considerable improvement"" from PERSON' subsidiaries and, despite a challenging environment for the group as a whole, prospects were good.
Lord ORG said he would retire from his post in DATE and be succeeded by GPE.
""Chips will inevitably be a hands-on chairman,"" PERSON, deputy chairman of ORG, said. ($MONEY Pound)","Financial services and property group ORG vowed on DATE to change the way the NORP pensions market works with the launch of a new user-friendly subsidiary.
""The market is poised for change, requiring a fresh approach, and our company will provide this by demystifying pensions for everybody - both individuals and the companies for which they work,"" Liberty chairman PERSON said.
Liberty has set up its own pensions company, ORG, and will target retail pensions and money purchase pension schemes -- pensions where the benefit is linked to the amount an individual has put in.
Liberty, PERCENT owned by GPE ORG, has enrolled the giant ORG, which will pay MONEY (MONEY) for PERCENT of the equity of ORG.
Liberty's PERSON said the move into the NORP pensions market was an extension of a worldwide shift from defined benefit -- where an individual's pension is related to his final salary -- to defined contribution principles.
This would have ""a most profound influence on business practice and retirement savings in the future"". In GPE there is also ""an urgent and growing need for quality privatised retirement savings which require a radical change in approach and funding techniques"", PERSON added.
A rapidly ageing population and low birth rate were combining to increase this need, PERSON said.
Liberty also announced it had teamed up with fund management group ORG to form ORG. This will offer specialised investment services to the NORP pensions industry, with Hermes as fund manager.
ORG is giving the ORG joint venture ""critical mass from the outset"" with a QUANTITY transfer of assets to the new funds, ORG said.
He said Hermes' expertise in investment management and track record would help the group to provide quality and competitively priced pension services. Hermes called the joint pensions venture a meeting of minds.
""Liberty has the ability and techniques of selling pensions, it also has the systems...and the administration. We on the other hand are good at our particular core areas of investment management...we think that's a very good marriage,"" PERSON PERSON, chief executive of GPE, said.
""It really was a meeting of minds on this. Whether it develops further from this we shall see. I think CARDINAL step at a time is quite enough for us.""
He said the venture would probably not be up and running until DATE as regulatory approval ORDINAL had to be obtained for the new group.
As well as selling pensions directly by telephone, PERSON also plans to sell personal pensions at its regional shopping centres, which are held through a majority-owned subsidiary ORG. These have CARDINAL customer visits DATE, ORG said. ($MONEY Pound)",1
"The NORP cabinet should decide soon on the further privatisation of the largest savings bank, PERSON a.s. to clarify the situation for potential investors, a bank official said on DATE.
GPE's deputy general director PERSON said however there was not a need to hurry with the privatisation, and that he believed that the state should keep a PERCENT stake in the bank after sale is concluded.
""The important thing is to decide on the privatisation in order to calm down the situation, also for foreign investors (so they know) how to proceed on the NORP market,"" Svoboda told reporters.
""I think it is not necessary to hurry abnormally with the privatisation (after the decision),"" he added.
GPE's further privatisation has become a hot topic in NORP banking circles especially after the central bank's recent suggestion to merge the bank with ORG (ORG), CARDINAL of the country's CARDINAL largest banks.
The state currently holds PERCENT stake in the bank through its privatisation agency, ORG (ORG). Svoboda said CARDINAL to PERCENT should be sold to CARDINAL, or possibly CARDINAL, ""long-term and transparent"" investors.
""If it was a domestic investor, there is the question where it would get money for it. A foreign investor could use capital not obtained on the domestic market,"" Svoboda said.
Asked about ORG (CNB) proposal to merge GPE with ORG, ORG said that he had not seen the plans, and he had little reaction to what had been reported in the media.
He said however that GPE has developed its specific position on the NORP market over DATE and that should be preserved.
The CNB plan submitted to the cabinet calls for a merger of the CARDINAL institutions which would create the largest banking institution in LOC with combined assets of MONEY crowns.
The CNB however proposed holding off on privatisation of the new combined GPE and ORG for DATE until the effects of the merger were analysed.
The plan also calls for fast selloff of the state PERCENT stake in another bank, ORG a.s. , to a foreign partner, and for a delay in the privatisation of the state PERCENT share in PERSON a.s. .
It is not clear when the cabinet will debate the CNB proposals, but a senior central bank official said it might be on the agenda of DATE government meeting.
-- Prague PRODUCT, CARDINAL-2-2423-0003","ORG NORP unit PERSON a.s. said on DATE its new mid-sized ""GPE"" sedan will list on its home market at a base price of CARDINAL crowns ($MONEY), at the low end of its class.
At a media presentation at the plant north of GPE, marketing chief PERSON said GPE will make CARDINAL Octavias DATE, and raise production to CARDINAL in DATE.
The new model, built on a common ORG platform designed for the DATE PERSON and upgraded PERSON, will be available with CARDINAL petrol and CARDINAL diesel engines, with the top-of-the-line ORG automatic model priced at CARDINAL crowns.
The GPE will get its international test at ORG in DATE and should be delivered to NORP dealers in DATE, followed by launches on foreign markets where prices have yet to be determined.
Skoda was taken over by ORG in DATE under a government privatisation plan. The company built an entirely new factory for GPE production.
Continuing the break from the boxy communist-era ORG, the GPE has more modern but conservative lines, somewhere between a ORG PRODUCT and ORG's A-line.
Skoda is hoping to build on the success of its PERSON economy CARDINAL-door hatchback by offering an affordable middle-range sedan and take back chunks of its home market lost to NORP seeking a more western-looking status symbol.
""GPE... is a logical step from PERSON into a higher market segment,"" said GPE.
The cheapest GPE includes QUANTITY, CARDINAL Kw engine, ignition immobiliser, driver-side airbag, plus an adjustable driver's seat and steering wheel.
More expensive versions will be alternatively equipped with a DATE kw, CARDINAL-valve CARDINAL kw engine, CARDINAL kw turbodiesel or CARDINAL kw diesel engine, and an optional passenger-side airbag.
Side-body airbags should be available in DATE.
Wittig told reporters that GPE should help GPE's total production to rise to CARDINAL units DATE and CARDINAL at DATE after CARDINAL cars made DATE.
""Within the (ORG) concern, GPE takes the position of the counterweight to the NORP producers,"" he added.
Skoda Chairman PERSON said that he expected CARDINAL Octavias to be sold DATE on the domestic market, the rest being exported to the rest of LOC and overseas.
The company lost MONEY crowns DATE due to heavy investments into the new factory, but ORG said the firm should come close to breaking even DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003 ($ = CARDINAL NORP Crowns)",1
"A MONEY takeover of ORG would mark a spectacular end to Sir PERSON's DATE as chief executive of ORG.
BT was DATE locked in talks with ORG, the ORDINAL largest GPE long-distance phone company, about buying PERCENT of ORG it does not own.
The deal, if it can be clinched, would be a major coup for the former computer industry executive who took the helm at GPE DATE when the company split the roles of chairman and chief executive. Sir PERSON, who had been combining the CARDINAL roles since DATE, became ORG chairman.
ORG's appointment was cheered by City commentators when it was announced DATE.
The influential ORG newspaper described it as ""one of the most positive events in the group's history"".
The newspaper said the appointment marked ""a turning point in ORG's transition from public sector utility to competitive services group"".
Bonfield, DATE, had built a reputation for boosting revenue, curbing costs and international expansion during his DATE in charge of ORG, the NORP computer company owned by GPE's ORG
""His wide international experience, his dedication to quality management and his in-depth knowledge of the computing services industry will be of particular relevance to ORG, as we continue our global expansion,"" Vallance said when ORG moved to ORG.
Within DATE of his arrival ORG was in talks with NORP rival ORGamp; ORG about a merger that would have created a global telecommunications powerhouse.
Those talks ended unsuccessfully in GPE But any ORG/BT deal would be bigger than that one that got away.
Bonfield has said he wants BT to be one of the most successful global telecoms companies DATE. He believes ORG's network of continental partners built up in DATE will allow it to become a true NORP operator.
He has also targeted LOC as a region where ORG needs to expand, hence the attempt to do a deal with ORG and ORG, which is very strong there.
Analysts say the critical mass from an ORG deal would provide the power to drive international expansion.
PERSON also believes BT must become more responsive to its market. CARDINAL of ORG's strengths is its reputation as an aggressive and fast-moving company.
He grew up in the small town of ORG, north of GPE, where he went to a local state school. He graduated in engineering from ORG in the English Midlands in DATE.
He began his career with ORG, working in the field of semiconductors and computers in LOC, LOC and GPE. He became a divisional director of GPE based in the GPE before joining ORG in DATE.
He became ORG managing director in DATE and its chief executive and chairman DATE.
Bonfield, a trim, bearded individual, has an informal manner and a reputation for getting on well with colleagues. A married man, he lists his hobbies as sailing, jogging and music.","The goodwill generated by recent high-level visits may warm a NORP-U.S. presidential meeting DATE, but lingering disputes mean the CARDINAL leaders will still have much to talk about, diplomats and analysts said on DATE.
NORP President PERSON meeting with his GPE counterpart PERSON at a conference of ORG forum in the GPE would be a key chance to bolster recent progress in easing ties, they said.
A visit DATE by GPE Secretary of ORG PERSON had brought GPE welcome signs of new GPE flexibility on such thorny issues as weapons proliferation, trade and GPE, said a NORP specialist on GPE affairs.
""During PERSON's visit to GPE there was progress on all the issues,"" said PERSON of the NORP foreign policy department of ORG.
Both sides had acknowledged a need to boost contacts and exchange state visits, while PERSON had accepted that GPE arms sales to GPE's island rival GPE were a weapons proliferation issue, Niu said in a telephone interview.
The clearest sign of GPE's desire to repair the battered cross-Pacific relationship was GPE willingness to consider starting peaceful nuclear cooperation even before a previously signed accord on the issue was implemented, he said.
""This change (on nuclear technology transfer) symbolised the change in the GPE attitude,"" he said.
""There has to be a belief in the possibility of establishing fairly good relations with GPE in the future (for GPE to be willing) to transfer this kind of advanced technology,"" he said.
GPE is eager to buy nuclear reactors from GPE firms equally keen to tap into its potentially large market, but cooperation has been stunted by GPE fears that GPE places few controls on the proliferation of nuclear technology.
While nuclear flexibility is controversial in GPE, mutual interest made nuclear cooperation the issue one that GPE and GPE could use to ensure a recent improvement in ties did not falter, said a GPE-based Western diplomat.
""I think that's the big carrot the NORP are trying to hold out for more progress on non-proliferation,"" the diplomat said. ""It's something the NORP would quite like to do anyway because there's money in it.""
While PERSON's visit had helped to boost ties in general, GPE was still likely to hold out for unilateral concessions from GPE on the terms of its accession to ORG, human rights and trade, he said.
""They don't really seem to have made a lot of progress,"" he said. ""I get the impression that there's still a lot of hard pounding to go.""
A GPE desire to see more concrete commitments from GPE before making concessions meant that the Jiang-PERSON meeting could end up achieving little of real substance, he said.
GPE, which GPE has considered a rebel province since the end of EVENT in DATE, would remain GPE's main policy focus at the presidential meeting, said Niu.
""For GPE the most important issue is GPE...and the reaffirmation that (GPE) will not sell weapons to GPE,"" he said.
While GPE's stance on most NORP-U.S. bugbear issues was clear, GPE was unlikely to give any public signal of its intentions on newer issues such as a GPE push for tax-free imformation technology imports or other ORG proposals, the Western diplomat said.
""I think the NORP are keeping their powder dry on all these issues,"" he said.",0
"GPE experts are striving to assure GPE their chicken is safe, but it is impossible to tell if poultry exported to GPE comes from areas hit by dangerous diseases, government and industry sources said on DATE.
Poultry is processed on such a massive scale in GPE there was no way of knowing where the birds originated, a GPE agriculture expert told ORG.
""So it would be impossible to identify in a shipment of meat from GPE which chickens came from GPE or GPE,"" the expert, speaking on condition of anonymity, said.
A senior GPE diplomatic source said, however, poultry shipments could be certified as not having come from regions where quarantinable diseases were an issue.
GPE poultry exports to GPE, worth MONEY a year, were hit by a disease scare DATE when the NORP press reported a ban on poultry from GPE and GPE.
NORP quarantine officials confirmed the ban, linking it to a deadly poultry flu called viscerotropic velogenic GPE disease or ORG, discovered in the CARDINAL states during DATE.  
A NORP quarantine official in GPE said he was aware of GPE claims the disease had been confined to pet birds, but said the ban would stand.
The NORP official contradicted GPE sources by saying there were no plans to hold bilateral talks on the issue.
A GPE source told ORG he met with NORP quarantine officials on DATE TIME.
""They know it is not of real consequence,"" he said, adding that talks were slated to take place on this and other agricultural issues in GPE in DATE.
The diplomatic source said banning poultry from those CARDINAL states would be like banning pineapples from GPE.
""Pineapples don't come from GPE and chicken does not come to GPE from GPE and GPE,"" the source said.
GPE and GPE together produce PERCENT of the total GPE poultry output, said PERSON, representative in GPE and GPE for the GPE state agriculture department.
The disease was found in parrots imported from GPE for sale in GPE pet shops, ORG said.  
Federal GPE veterinarians eradicated the birds and all trace of the disease, he said, adding that it had no contact with commercial flocks.
VVND kills all birds that come into contact with it, and necessitates the eradication of entire commercial flocks.
It is carried principally by psittaciformes -- parrots, parakeets, budgerigars and macaws, PERSON said.
Parrots introduced the disease into GPE in DATE, leading to the destruction of the state's entire poultry flock.
PERSON, of ORG, said GPE experts were working to reassure NORP quarantine officials the disease had no effect on GPE poultry.
""It is not at all linked to NORP poultry so we're reassuring the NORP quarantine officials and working through this in an explanatory, technical way, so the trade will continue on an active basis,"" he said.
Schumacher, in GPE DATE, said chickens were not now being shipped to GPE from these CARDINAL states, but trade from other areas of the GPE had not been affected.  
However, cheap land and labour in the CARDINAL rural states was attracting contract production from major producers that pay for labour and feed, and then purchase all chicks produced, the agriculture expert said.
""Most of the birds produced in these CARDINAL states are shipped elsewhere for processing, like GPE or GPE...so it is generic chicken and there is no way to tell,"" he said.","Genetically-altered soybeans at the centre of an international environmental furore are causing little concern in GPE, a major soybean importer with its own bio-engineering programmes, industry sources said on DATE.
""GPE is a very public and vocal supporter of our technology,"" said a source at ORG, the developer of the ORDINAL genetically-altered GPE soybeans.
""The NORP have been heavily involved in their own programmes to produce insect-resistant cotton and genetically-altered soybeans, corn and rice,"" the source in GPE, who spoke on condition of anonymity, told ORG.
ORG has been targeted in GPE and now in LOC by environmental groups opposed to genetic engineering.
The soybeans have been developed with a resistance to a widely-used weed killer called ORG, also a ORG product.
""I would think they would be very happy in GPE to get their hands on some of this product if they are pest-resistant,"" an industry executive in GPE said.
""They have a lot of their own problems with insects, especially in their soy and corn crops,"" he said.
The ORG source said NORP research, while a good decade behind his own company's, mirrored ORG's efforts at developing pest and insecticide resistant crops.
""So I wouldn't expect there to be any concern in GPE about this product,"" he said.
He said ORG was negotiating for co-operative projects in GPE, but would not give further details.
Greenpeace and other environmental campaigners were preparing on DATE to picket the arrival in GPE of a ship believed to be carrying some of the ORG soybeans.
Greenpeace activists in GPE, however, said on DATE that despite concerns, they had no plan to campaign against the sale of the genetically-altered beans in LOC.
""The problem is we don't know what form it is in -- in powder form, in animal feed, mixed into hamburger meat -- so we have no way of knowing if we are eating it,"" said PERSON, spokesman for ORG in GPE.
""The beans have not been extensively tested before being made available to the public so we don't know what we are doing to human or animal bodies,"" he said.
Other than providing information on request, ORG had no plan of action against the beans in LOC, PERSON said.
The beans have been approved for use in GPE, the biggest buyer of GPE soybean products, the ORG source said.
User-groups in other countries, such as ORG, have also said they will use the genetically-altered GPE soybeans.
Grain traders and industry executives in LOC said they had received no expression of concern from potential buyers in the region about the altered soybeans and did not expect to.
""They represent a very small proportion of the GPE crop at this stage,"" a grain trader in GPE said, adding the beans could account for PERCENT of the total GPE crop in DATE.
The GPE soybean crop, now PERCENT harvested, is expected to be QUANTITY, according to ORG. Of that, QUANTITY will go to export markets.
While not among the biggest customers for GPE soybean products, GPE is expected to buy QUANTITY of beans in calendar DATE, and QUANTITY of meal.
-- GPE newsroom (CARDINAL) 2843-6470",1
"GPE CARDINAL cocoa marketing DATE began on DATE with the farm-gate price unchanged, the export tax lower, but confusion over freight rates.
Agriculture Minister PERSON told a news conference late on DATE that the farm-gate price would remain at MONEY per bagged kilo.  
GPE, whose comments were broadcast on NORP state television on DATE, said the Droit Unique de Sortie (ORG) export tax would be cut from MONEY to CARDINAL.
""To maintain the price, the government itself had to agree to a sacrifice of MONEY, through the lowering of LAW for cocoa,"" he said.
""If we had not made this cut we would have had to touch the price. The head of state insisted that the price of CARDINAL CFA be maintained for our producers.""
Exporters had been expecting no significant price change.
Shipowners spoke of disagreements with officials over an indicative freight rate for CARDINAL.
ORG had requested detailed information on proposed freight rates on shipments for CARDINAL, they said.
""We cannot give that kind of information now that markets have been liberalised. This is a part of our business strategy,"" one said.
""WORK_OF_ART shipping industry forum) ORG would organise a meeting to discuss matters but we have been waiting.""
GPE said the government had approved on DATE without amendment a decision taken by ORG marketing board on the campaign.
Noting that the CARDINAL campaign was ending on DATE, he added, ""As a result, remaining stocks must be declared to the PRODUCT.""  
The opening of the season had been delayed by DATE. The government had given no explanation but some exporters linked the delay to the appointment only DATE of new PRODUCT head PERSON.
ORG, who previously worked for ORG in GPE, has formally taken over but is not expected back in GPE until DATE.
DATE produced a record of QUANTITY but a dispute over shipping rates blocked exports from DATE to DATE.
Export financers say bank liquidity was good with interest rates down on DATE after GPE repaid some external debt.
""When exporters present their licences and backing contracts we can go ahead. Export licensing should be no problem,"" said an international banker.
Commodities Minister PERSON, speaking on the sidelines of a DATE ministerial review in Gabon of the DATE EVENT, said on DATE that GPE CARDINAL cocoa production would be CARDINAL tonnes.
--Abidjan newsroom +225 CARDINAL  
(c) ORG (c) ORG DATE","ORG and ORG recessed contract negotiations DATE, TIME after their existing contract expired, but union officials said talks were likely to resume TIME.
Union members continued working despite the impasse and ORG President PERSON said the union and ORG officials planned to resume their talks, possibly DATE.
Bargaining between the CARDINAL sides recessed TIME after the contract expired. The pact covers CARDINAL ORG members who work at ORG's GPE facilities.
At a news conference DATE, ORG made no mention of possible selective strikes at some ORG plants, as had been speculated DATE.
""We hope that everyone understands that we can't do it in the street. It isn't weakness -- we have to do it at the bargaining table,"" he said.
ORG said a small number of bargainers may return to ORG DATE. Negotiators talked for TIME DATE and early DATE TIME trying to reach a new agreement.
In a written statement in response to ORG's comments, ORG vice president of personnel PERSON said the talks have been constructive.
""We have had open and constructive dialogue with the ORG since these talks began and have made significant progress on many of the issues,"" ORG said.
The ORG has already reached a new DATE contract with ORG and ORG covering CARDINAL ORG members in GPE.
ORG and ORG both agreed to guarantee jobs for PERCENT of their current ORG workforces. Forcing GM to accept that pattern has been a sticking point for the ORG. The world's largest automaker has said it needs to shed CARDINAL NORP parts plants that it says are uncompetitive, and wants to exclude those plants from any job guarantee pledges.
There was speculation DATE the ORG may hit ORG with selective strikes at plants that build ORG's high-profit full-size pickup trucks and sport/utility vehicles, including facilities in GPE, GPE, ORG and GPE, GPE, and GPE, GPE
Yokich, who said he is disappointed with the progress of the talks, said some of the ORG's locals have ""sticky"" issues that are not yet resolved.
""We decided that some of these locals need to work on these issues probably before we can ever get a settlement,"" he said, declining to identify the locals.
The previous national labour agreement expired DATE, but the ORG said in DATE it would extend the contract. DATE ORG said the contract extension for ORG would end at TIME.
Yokich defended his tactics against critics who say the union, which is facing a shrinking membership base, has not been tough enough on the Big Three automakers, whose profits and sales are both increasing.
ORG has CARDINAL parts plants that it considers uncompetitive and wants to exclude several of those facilities from the job guarantee, including a door hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE, that it wants to sell.
ORG's stock slipped MONEY to $MONEY in TIME trading on ORG.",0
"GPE's ORG, which won control of hotel and catering empire Forte in DATE, on DATE reported a PERCENT surge in DATE profits to MONEY (MONEY).
The media and leisure group said that it would deliver on its promise to improve profits at PERSON by over 100 million pounds per annum from CARDINAL.
ORG chairman PERSON called the results ""very satisfying"". ""The key has been the speed with which we have been able to move on the PERSON businesses,"" he told ORG.
Granada took over family-controlled PERSON in a QUANTITY deal DATE after a bitter bid battle that raged over DATE and EVENT period DATE.
The company said that PERSON had responded well to its management and that it had already improved profitability there by approaching MONEY.
Granada continues to reorganise following the acquisition of GPE's leading hotel group. PERSON said there was substantial interest from a wide range of potential purchasers of the luxury hotels it has put on the market.
Granada sold the ORDINAL of the CARDINAL PRODUCT hotels on DATE when GPE based ORG bought GPE's FAC for MONEY.
Robinson said that ORG expected to complete the disposals by DATE. Analysts calculate the sale of assets including FAC in GPE and ORG in GPE will raise a total of QUANTITY.
The ORG chairman said that the company hoped to sell the Welcome Break chain of NORP motorway service areas in DATE or DATE. The CARDINAL sites were acquired in the ORG deal but must be sold off because of monopoly concerns.
But he said there were no plans to sell the PERCENT stake ORG holds in pay television operator ORG.
Group turnover in DATE climbed PERCENT to MONEY. Total dividend was raised by PERCENT to CARDINAL per share.
Granada shares, which had risen in DATE in anticipation of bumper results, fell by CARDINAL to 884 1/2p in a generally gloomy market.
The largest contribution came from the ORG division, which boosted profit before interest and tax by PERCENT to MONEY as the PERSON acquisition bore fruit.
The new ORG unit contributed CARDINAL while ORG, including ORG's CARDINAL NORP commercial television stations, made CARDINAL, up PERCENT. Profits from the high street rentals arm was marginally higher at CARDINAL.","NORP mobile telephone company Cellnet on DATE reported strong growth in its customer numbers, confirming the NORP cellular market is healthy, already indicated by figures from rival ORG.
Cellnet, jointly owned by ORG and ORG, said it had CARDINAL GPE customers at DATE, up from CARDINAL DATE.
Vodafone, the market leader in GPE, on DATE reported a PERCENT increase in GPE subscriber numbers over DATE as a whole, reaching a total of CARDINAL in DATE.
The market has settled down after a period of very rapid expansion at DATE when mobile phones were a novelty.
However, analysts were impressed by the figures from GPE's CARDINAL largest cellular companies and said there were signs of an increase in the rate of subscriber growth.
""ORG's performance was particularly creditable since historically they have done badly in Q4 while Cellnet did well, due to ORG's relative focus on the consumer market,"" broker SBC GPE said in a research note.
Vodafone gained a net CARDINAL GPE subscribers in DATE once cancellations had been taken into account and said that its performance was an improvement on the corresponding DATE.
Vodafone shares added CARDINAL to 244p on DATE, reversing the losses suffered in a generally weak market on DATE.
Cellnet said its subscriber base had grown by CARDINAL in DATE, against an increase of CARDINAL in DATE.
But ORG said that DATE had been a bumper year and noted that the growth in its customer base was significantly higher than in DATE.
Both Vodafone and Cellnet are in the process of transferring their customers from older analogue networks to more efficient digital systems.
Vodafone said that CARDINAL of its GPE customers were now on the digital network while ORG said it had over CARDINAL digital customers.
One-2-One and NORP ORA.L, which offer only digital services, are due to release their connection figures DATE. Orange shares were CARDINAL higher at CARDINAL on DATE.",1
"While ORG struggles to overcome labour costs of $MONEY an hour at its parts plants, the head of CARDINAL global auto supplier is painting a NORP view of the future, in which an increasing number of workers earn MONEY an hour.
CARDINAL of ORG workers around the world will be paid a combined TIME wage and benefit rate of MONEY by 2000, the company's top executive said DATE at a conference of suppliers.
That sobering forecast spotlights a long-term problem for ORG, which is now in the throes of negotiating a new DATE labour contract with ORG union.
""They can't make a buck stamping out taillights and paying people $TIME,"" said PERSON, an analyst at ORG
Adds ORG analyst PERSON: ""Their CARDINAL other competitors aren't going to say 'We'll spot you DATE.'""
PERSON, president and chief executive officer of ORG, said the company paid PERCENT of its CARDINAL workers around the world MONEY an hour in DATE. That was up from PERCENT of its employees at that pay level in DATE.
""Do we do that because we're mean?"" ORG said of the falling wage rates. ""No. We did that because we have to promise our customers a PERCENT price reduction.""
Facing union demands for greater job security, ORG must find a way for its massive ORG parts business to stay competitive in the worldwide auto supplier market.
In the current talks, ORG has said CARDINAL of its GPE component facilities are underperforming and should not be subject to the job guarantees the ORG has received from other automakers.
Even if it accepts the economic terms already agreed to by ORG and ORG , ORG and ORG will pay the average GPE parts worker a base wage of MONEY an hour in DATE of the contract, and MONEY in DATE, DATE of the agreement.
PERCENT of ORG's workers are located in GPE, where the combined TIME wage and benefit cost of a ORG worker under the DATE national agreement is MONEY.
ORG, with DATE revenues of MONEY, is in CARDINAL businesses around the world. Global expansion remains a focus for the company, which DATE expects PERCENT of its revenues to come from customers outside of ORG's ORG, ORG President PERSON said DATE.
But as ORG's comments indicate, the global auto supplier industry is growing increasingly competitive.
The worldwide TIME wage rate for assembling a labour-intensive part such as a wire harness is MONEY, he estimated. More technical parts cost $MONEY an hour.
ORG said workers in GPE will earn $MONEY a month working TIME a week putting together wiring harnesses for ORG.
""If you are regionally competitive but not globally competitive, you will unlikely be a supplier to ORG,"" PERSON told the gathering of suppliers in GPE.
ORG, based in GPE, GPE, is the biggest unit within ORG, and CARDINAL of the largest independent auto suppliers in the world.
The company, which has DATE sales of MONEY, makes brake and chassis systems, as well as body and electrical components such as motors, actuators and wiper systems. ORG estimated the company's average global total wage costs at MONEY an hour.","ORG, battling to avoid a ORDINAL strike by assembly and parts workers DATE, said it was hopeful a new labor contract could be reached before an extension deadline at TIME on DATE.
Speaking to reporters gathered at ORG's headquarters here, ORG spokesman PERSON said ORG and ORG were still working to resolve difficult and complex issues.
""ORG remains hopeful an agreement can be reached before the ORG's termination of the current DATE national agreement at TIME (0459 ORG) TIME,"" said PERSON.
At stake is a new labor agreement for ORG's CARDINAL hourly ORG workers. ORG employs CARDINAL of the CARDINAL ORG members who work at GPE's Big Three automakers. It is the only one of the Big Three to not have a new DATE labor contract.
ORG spokesman PERSON declined to comment on the talks. ORG President PERSON said on DATE that he was not optimistic a deal could be reached by the deadline. In a sign an agreement might not be reached TIME, ORG said ORG Chairman PERSON was not at the automaker's headquarters, although he was in touch with negotiators.
Both ORG Chairman PERSON and ORG Chairman PERSON were present for the final stages of their company's negotiations and appeared at press conferences announcing a deal.
Bargainers for ORG and ORG resumed DATE TIME after they adjourned DATE TIME. Analysts speculated that negotiators could be wrangling over contract language that would dictate how many workers ORG would have to guarantee jobs.
Bowing to ORG concerns over job security, both ORG and ORG have agreed to new contracts that promise to keep PERCENT of their current ORG TIME workforces except in the event of a severe industry downturn.
""I think if there's a sticking point that may be it,"" said PERSON, a labor expert at ORG. ""ORG may be pushing to get that figure farther down than the ORG may be comfortable living with.""
ORG, the least efficient GPE automaker, is trying to shed CARDINAL unprofitable parts plants, and wants to exclude certain component facilities from the employment guarantee, including a door hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE
In settling a DATE strike by ORG union DATE, ORG was able to secure a deal that included the sale of CARDINAL parts plants and flexibility to outsource more products.
Yokich has not said what he will do after once the contract extension expires at TIME. He set the deadline on DATE, but did not actually threaten a strike. Workers have been told to stay on the job until they hear otherwise.
However, there was speculation DATE the ORG could mount a plant-specific strike if not enough progress had been made by the deadline. By hitting light truck plants such as the sport/utility facility in GPE, GPE, the union could hurt the sale of some of ORG's most profitable products at a time it is trying to bounce back from the NORP strike.
ORG's GPE operations continue to respond to the strike by CARDINAL ORG workers. The CARDINAL ORG members at ORG's GPE complex have been told not to report DATE. At the same time, ORG is running radio ads telling ORDINAL-shift workers at its GPE assembly plant to report to work DATE.",1
"GPE's CARDINAL biggest banks are poised for a further round of buoyant profits when they begin reporting DATE earnings on DATE.
An improved interest rate picture, higher investment banking and dealing revenues and better loan quality are expected to drive profits in DATE.
On average, earnings for the so-called Big Six are expected to be PERCENT higher than DATE, analysts said.  
""I would expect more sectors of the banks to be more profitable than they were in DATE,"" PERSON, an analyst with ORG, said in a telephone interview.
ORG and ORG, GPE's ORDINAL and ORDINAL largest banks respectively, kick off the earnings parade on DATE.
GPE's ORDINAL-biggest bank, ORG, and the smallest, ORG, report on DATE.  
The country's top CARDINAL banks, ORG and ORG, are scheduled to deliver their results on DATE.
Despite a recent downturn in financial markets, analysts said securities earnings should be stronger than DATE. GPE's brokerage industry is dominated by subsidiaries of the countries major banks.
The banks are also expected to benefit from lower loan losses as the industry continues to rebound from disastrous loans in commercial real estate, which collapsed in DATE.  
Despite the correction in stocks DATE, bank stocks have remained strong performers. Lower NORP interest rates have helped push bank stock prices to all-time highs on ORG.
""I think that if the combination of strong profitability couples up with lower interest rates, then it probably will set the backdrop for higher share prices,"" said PERSON, an analyst with ORG
Analysts said they do not expect any of the banks to raise their dividends during the reporting period.  
But the string of record bank profits are expected to yield dividend hikes at DATE.
The big banks are on track for DATE if record DATE profits. The group rang up a combined profit of MONEY in DATE, up from MONEY DATE.
As for DATE, ORG said he expects a modest increase in profits.  
""Investment banking is a cyclical business. It may tail off a bit, but there is no sign of a recession yet, so I would think we could get modestly higher earnings DATE,"" he said.
ORG is expected to report a DATE profit of C$MONEY per share, up from C$MONEY per share DATE, according to figures supplied by ORG.
ORG's earnings are seen climbing to C$1 per share in DATE, up from C$MONEY a share.  
ORG is expected to post a C$MONEY per share profit, up slightly from C$MONEY per share in DATE.
ORG DATE earnings are forecast to rise to C$MONEY per share from C$MONEY a share DATE.
CIBC's DATE results are pegged at C$MONEY a share compared to DATE C$MONEY per share.
ORG is seen improving to C$MONEY a share in DATE, up from C$MONEY per share DATE.
-- ORG (CARDINAL) 941-8100","PERSON, which exceeded analysts' expectations for DATE, warned analysts not to increase earnings estimates for DATE, according to PERSON, chief economist.
""I warned them (analysts) not to increase expectations for DATE,"" Filippello said, adding ORG mean of analysts' estimates is $MONEY a share, compared with $MONEY DATE.
""We're urging people not to increase the number,"" he added.  
Earlier, ORG reported DATE earnings of $MONEY a share, up from $MONEY DATE and above LAW mean of $MONEY.
Filippello said certain factors, including the timing of bulk aspartame sweetener shipments and an adjustment in DATE tax rate, contributed to DATE earnings exceeding ORG expectations.
Looking ahead, ORG said ORG continues to weigh options for its chemical business, as reported DATE.  CARDINAL possibility is to spin the chemicals operation off as a separate publicly traded company.  
Or chemicals could be spun off and then merged with another company, ORG added. The ""spin-off/merger option,"" he said, would be preferrable from a tax standpoint from an outright sale of the chemical operations.
But he said it was too early to speculate which options was likely to take place.  ""I think it's too early to speculate,"" Filippello said.
If ORG shed its chemical operations, it would be left with a life sciences business consisting of agricultural products, pharmaceuticals and food ingredients.  
Filippello said ORG is considering ways to make food ingredients ""an important part of this life sciences company."" But it remains to be seen how much growth in food ingredients would be accomplished internally or if the company would undertake licensing, partnerships and possible acquisitions, he added.
The life sciences business would include the ORG pharmaceutical company, which analysts in the past had expected ORG to sell.
""There is no interest at this point in selling ORG,"" Filippello said. ""ORG clearly is an appreciating asset at this point...Our expectation at this time is that value is going to continue increase over time.""
ORG Chicago PERSON",0
"GPE's major banks, still smarting from DATE bank-bashing budget, are hoping for no major surprises and perhaps some tax relief from ORG Minister PERSON DATE.
DATE, ORG stunned the banks when he rejected their bid for expanded powers in insurance. He also extended a controversial capital tax on the banks for DATE.
In the run up to DATE CARDINAL budget, bankers have lobbied for a lighter tax burden which, they argue, is among the heaviest in corporate GPE.
""We feel the banks are paying more than their fair share of taxes. Particularly our concern is capital taxes,"" said PERSON, vice-president of banking operations for ORG.
The Big Six banks -- ORG, ORG, ORG, ORG, ORG and ORG -- have rung up record profits in DATE.
The group earned a combined MONEY in DATE, up PERCENT from DATE. The banks are expected to report strong DATE results DATE.
At their DATE meetings DATE, bankers stressed they paid record taxes of MONEY in DATE.
But social activists argue the banks should pay more tax on what they call ""excessive"" profits.
In its ""alternative"" budget released DATE, ORG urged ORG to impose an ""excess profits"" tax on the banks and other financial institutions totaling MONEY in CARDINAL.
Other groups want ORG to use the existing PERCENT capital tax to encourage small business lending -- an area in which the banks have been criticized for not doing enough.
In Ontario -- where CARDINAL of the CARDINAL major banks are based -- the Conservative government hit the banks with a PERCENT capital tax surcharge in DATE budget.
The banks can eliminate some or all of the tax if they invest more in small business between now and DATE. ORG officials said it was too early to measure the program's performance, but several major banks unveiled small business loan programs in DATE.
PERSON said the Ontario tax had little to do with those announcements. ""The problem when you do this is that taxation gets less efficient the more they are used to boost investment in a certain part of the market which the banks are doing extensively anyway,"" he said.
Analysts doubted ORG would do any major tinkering on bank taxes DATE.
""I don't expect any new additional taxes and I doubt if there is any tax relief. The only possible source of tax relief is that the government would not extend this capital tax,"" said PERSON analyst PERSON.
With bank bashing a popular sport among NORP voters, ORG may be loathe to give the banks a tax break in what is shaping up to be DATE, analysts said.
Adding to this DATE's budget boredom is the absence of DATE noisy battle between the banks and insurers.
PERSON shocked the banks when he slammed the door on their bid for broader insurance powers and pre-empted a government white paper on financial reforms, which was DATE away from being released.
ORG has set up a task force to study those and other competition issues, including whether major banks should be allowed to merge. But reforms recommended by the task force are not expected to take effect until DATE.
((ORG PRODUCT))","GPE, GPE's biggest city and financial capital, is bracing for a near shutdown DATE when protesters hit the streets against deep budget cuts by GPE's Conservative government.
The so-called ""WORK_OF_ART"" on DATE and DATE are shaping up to be the biggest labour protest in GPE since LAW in DATE in which CARDINAL person died and CARDINAL were injured after a confrontation with police and the army.
In a bid to paralyse this city of CARDINAL people, organisers hope to close businesses and disrupt services, including underground trains and GPE's FAC, the country's busiest airport.
CARDINAL of unionized workers, civil servants and activists will picket outside ORG, government offices, corporate headquarters and factories.
""I must tell you to prepare for DATE of inconvenience and frustration DATE and DATE,"" PERSON, chairman of ORG, said in a letter to residents on DATE.
Ironically, the labour chaos comes as GPE basks in the glow of being chosen by ORG magazine as the world's best city for quality of life.
The protesters are furious with the government's plans to cut spending by MONEY (MONEY) to wipe out a huge deficit by DATE.
Since sweeping to power in DATE promising a right-wing revolution in GPE's most populous province, the NORP have revamped labour laws, slashed welfare payments, introduced workfare and announced plans to close hospitals and trim education budgets.
""We want to put pressure on the government and its corporate supporters that we're not going to accept this anymore,"" PERSON, co-chairwoman of EVENT"", said in a telephone interview.
Premier PERSON, who has been dubbed ""Newt of the LOC"" in reference to NORP ORG Speaker PERSON, vowed the protests will not stall his ""Common Sense Revolution.""
City officials were bracing for a disruption of GPE's bus and subway services, which handle CARDINAL commuters a day. Transit officials on DATE won a partial injunction against picketing at subway stations.
GO Transit, the train service that links suburban communities to GPE, warned commuters that ""service may be delayed, adjusted, interrupted or even cancelled.""
Air travellers can also expect delays at FAC, which handles CARDINAL passengers a day, said airport spokesman PERSON.
A NORP court ruled DATE that picketers cannot interfere with essential airport workers, but can set up informational pickets. Airlines have promised to re-schedule flights if there are significant delays.
Meanwhile, several major manufacturers have cancelled day shifts. ORG, a unit of transportation firm ORG, said CARDINAL employees at its GPE aircraft plant will be off the job DATE.
The protest will not affect ORG NORP unit, which is getting back to work after a nearly DATE strike ended DATE.
ORG, a major international horse-racing event on DATE, will not be affected by the protest.
On GPE's FAC, the heart of GPE's financial community, traders not lucky enough to get a scarce hotel room are planning to sleep in their offices.
""Some essential people will be in the office. They might grab a couch or a sleeping bag,"" CARDINAL broker said.
Other firms are sending their employees to offices outside GPE or telling them to work from home. Many workers are expected to take DATE off.
ORG, GPE's biggest stock exchange, is planning a ""business-as-usual day,"" despite a large rally planned outside the exchange.",1
"ORG extended the run of record NORP bank profits on DATE with a PERCENT jump in DATE earnings and a dividend hike for its shareholders.
GPE's ORDINAL largest bank said net income climbed to MONEY in DATE from MONEY in DATE. ORG and ORG DATE posted record DATE earnings.
The strong results prompted ORG to boost its DATE dividend by MONEY a share.  
ORG raised its dividend by C$MONEY a share to C$MONEY a share on DATE.
ORG said its performance reflected strong growth in other income, with significant gains in investment banking, brokerage and mutual fund businesses.
The bank's loan loss provision also sank to its lowest level in DATE.
""With a solid financial performance and progress in developing our businesses, ORG had a positive impact on the NORP economy in DATE,"" chairman and chief executive PERSON said in a statement.  
Return on equity, a key measure of profitability, rose to PERCENT in DATE from PERCENT DATE.
The bank's DATE earnings were in line with analysts' estimates.
Earnings rose to C$MONEY a share in DATE from C$MONEY a share in the same period in DATE.
The consensus analysts' forecast was for C$MONEY a share in DATE.
""They were dead on expectations. The dividend increase was also expected,"" said PERSON, an analyst with ORG  
Analysts said the revised loan loss provision was a surprise. The bank cut its DATE provision to MONEY from a previous DATE estimate of MONEY and from MONEY in DATE.
Net impaired loans in DATE fell MONEY. ""This decline was largely due to improvement in real estate loans to corporate borrowers,"" the bank said.
Net impaired loans as a percentage of total loans and acceptances dropped to PERCENT at DATE. TD stock was up CARDINAL to 37.65 on turnover of CARDINAL shares on ORG.  
TD  hit a DATE high of CARDINAL earlier in the session.
TD president PERSON said GPE's low interest rates should boost consumer confidence and economic activity in DATE. That in turn was expected to increase demand for the bank's investment products.
""With the acceleration of growth in investment banking, brokerage, mutual funds, investment management and electronic banking services, ORG is positioned to perform well in this environment,"" said PERSON.
-- ORG (CARDINAL) 941-8100","Elementary school students with access to the Internet learned more than kids who lacked access, an indepedent research group concluded after conducting a comparative study in CARDINAL urban school districts.
""This study dramatically illustrates the positive effects of online use on learning,"" said PERSON, executive director of ORG, an association of CARDINAL large inner city public school districts which co-sponsored the study along with ORG",0
"NORP consumers are set to play PERSON again this holiday season to the despair of long-suffering NORP retailers, according to a survey of consumers by accounting firm PERSON.
""Overall, DATE will not be too much different from DATE,"" said PERSON partner PERSON, who heads the firm's consumer products division.
In DATE, NORP retailers posted CARDINAL of DATE in DATE, followed by an unseasonably cool spring that hurt sales and forced chains to discount their stock.
Many chains have said they are counting on the holidays to boost results in DATE.
In the survey released DATE, PERCENT of respondents said they would spend the same amount as DATE, while PERCENT forecast lower spending and PERCENT said they would spend more.
The survey by ORG and GPE firm FAC Mallette Maheu polled CARDINAL NORP in DATE.
The results were little changed from DATE poll when PERCENT said their spending would equal DATE levels, while PERCENT said they would spend less and PERCENT more.
The findings came despite GPE's lowest interest rates in DATE after a series of rate cuts by the central bank and commercial lenders.
PERSON said this DATE's survey ""just shows you there's some underlying problems people have with respect to the level of debt and job security.""
NORP have opted for paying down heavy debt loads rather than being spendthrift, he said. Many people still also fear for their jobs after DATE of layoffs, PERSON added.
""It's almost like (you are) looking for an excuse to curtail your spending,"" he said.
""But then again,"" he added, ""historically people have tended to say these things in DATE and then sort of spend normally when they get involved in the DATE atmosphere.""","Global paper and packaging group ORG announced on DATE a rare slide in DATE profit, blaming weak world paper prices and flat economic growth at home, but its shares held firm on the promise of recovery.
The result, which was ORG's ORDINAL fall in pre-abnormal profit in DATE, failed to rock the blue-chip's battered share price, which had already fallen heavily in DATE in anticipation of a weak outcome.  
""Potentially, the worst is over and you are looking forward to increased earnings here on in,"" a GPE-based broker told ORG after ORG reported a PERCENT drop in net profit to MONEY in DATE.
ORG's paper division was hit by a PERCENT fall in world paper prices since late calendar DATE, and weak economic activity in GPE and GPE impacted heavily on its packaging operations, the company said.
But ORG suggested that paper prices had bottomed out and said it hoped to see signs of an upturn in DATE.  
""Paper prices ... appear to have bottomed, all ORG businesses have restructuring and cost-reduction programmes underway and there are new business opportunities in all regions,"" ORG managing director PERSON told reporters.
The stock market, which shaved over A$2.00 off ORG's DATE-high share price DATE, initially pushed the shares higher on DATE before late selling pulled them to a close of A$MONEY, down MONEY on DATE's close, in a falling market.
""I don't think sentiment towards the stock is going to change in the near term,"" said CARDINAL GPE-based analyst.  
""Profit will be flat towards the end of the (current CARDINAL) year and then start to pick up into DATE,"" she added, predicting that a recovery in NORP economic growth will begin to spur ORG's earnings in CARDINAL.
ORG, CARDINAL of the world's ORDINAL paper and packaging companies and for DATE a favourite of the local bourse, signalled a major cost-cutting drive and a reduction in capital expenditure to restore margins, especially in packaging.  
The packaging business, which makes products ranging from plastic beverage bottles and breakfast-cereal boxes to carboard boxes, suffered squeezed profit margins in GPE and GPE, and poor results in GPE.
Its Holfeder box-making business in GPE posted another undisclosed loss in CARDINAL. ""The level of confidence in the NORP economy is abysmal,"" ORG's PERSON said.
The group's GPE operations also ""dragged its feet"" but its NORP packaging business posted excellent results, he said.  
ORG's NORP packaging operations posted higher profit, despite paper prices in the region ""sinking like a stone"" DATE and dragging carboard-box prices with them, he said.
""It's been a rollar-coaster ride on paper prices in LOC,"" he added.
ORG has long had a target of achieving PERCENT growth in earnings per share, but PERSON announced this DATE goal had been scrapped, given the difficult trading environment and GPE's new low-inflation environment.
""I think we simply have to for a period pull them (rapid-growth ambitions) down a peg or CARDINAL...,"" he said.  
""Clearly we have to make sure that the businesses we have already got are earning reasonable returns.""
-- ORG CARDINAL-3 9286-1421",0
"Another member of GPE's main oil workers' union was arrested on terrorist charges, a union leader said DATE on the eve a meeting to set the start date for a strike that could paralyze the industry.
The capture of PERSON in GPE province DATE came after the arrest of CARDINAL others DATE -- CARDINAL of them from the ORG oil union.
All are accused of carrying out dynamite attacks on the country's oil pipelines and of links to ORG (ELN), the country's ORDINAL largest guerrilla force. The chief prosecutor's office was unavailable for comment on the latest detention.
ORG head ORG said DATE the union would fix the ""zero hour"" for the start of an indefinite strike to protest the wave of arrests at an extraordinary assembly DATE. The action is also to oppose government plans for what the union sees as the creeping privatization of state-run oil company Ecopetrol, ORG said.
Following a merger between the CARDINAL-strong ORG and smaller oil workers' associations, the strike could spread to the private sector, including foreign multinationals operating in GPE.
ORG leaders were due to meet NORP Interior Minister PERSON DATE TIME to discuss the arrest of members and the planned walkout. The government seems likely to declare an oil workers' strike illegal on the grounds that it is affecting a key sector of the economy.
Mines and Energy Minister PERSON said DATE that Ecopetrol had enough fuel reserves to meet demand for DATE and said any shortfalls in domestic supply could be made up by increasing imports in the event of a ORG strike.
A TIME stoppage by ORG workers in DATE paralyzed pumping -- QUANTITY a day -- along the country's CARDINAL main oil pipelines for the ORDINAL time ever.
In a separate incident in the oil town of GPE, CARDINAL unidentified assailants blasted local ORG official PERSON at close range with a shotgun and wounded as he left a bar DATE TIME.
ORG social services secretary PERSON the motives for the attack were unclear. Members of ORG, known for its fiercely nationalistic stance, have frequently been targeted by right-wing paramilitaries who accuse the union of backing the ELN.","CARDINAL of demonstrators thronged GPE's streets on DATE calling for an end to the crime wave that has turned GPE into the kidnap capital of the world.
A small bomb exploded TIME before the march began QUANTITY (QUANTITY) from where demonstrators gathered but did not cause any injuries, police said. A spokesman said the device contained just a few ounces (under QUANTITY) of explosive and was probably simply intended to sow panic.
CARDINAL people have been abducted DATE -- CARDINAL of those by warring factions in GPE's simmering internal conflict -- according to march organisers.
ORG chief PERSON, who took part in the ORDINAL march of its kind in GPE, saw it as a direct challenge to leftist guerrillas, who fill their war chests with ransoms. Scores of others clutched photos in silent tribute to their loved ones -- kidnapped by criminals.
""When you're abducted you become like the living dead -- it strips you of your soul. DATE's march is a sign that civil society is saying no to kidnap,"" said PERSON, founder of PERSON, an independent foundation that counsels kidnap victims' families and which organised DATE's march.
Santos, part of the family that runs GPE's leading newspaper, was kidnapped DATE as part of a campaign unleashed by the late drug lord PERSON and his GPE cartel.
In a move timed to coincide with DATE's protest, one of GPE's most-feared right-wing paramilitary leaders released the mothers of CARDINAL guerrilla chieftains in the northwest.
The women were snatched in a wave of retaliatory kidnappings carried out by PERSON paramilitary gang in DATE in a bid to persuade the guerrilla chief to halt its campaign of abductions.
CARDINAL to CARDINAL people took part in the march. Organisers put the figure at twice that.
PERSON, DATE, tearfully watched the march and subsequent rally in the historic FAC square. DATE to the day his DATE daughter PERSON disappeared on her way to school in a working-class district of the capital.
""When your child is kidnapped it is like your own life ends. It's the hardest thing for a parent to suffer,"" PERSON said.
DATE, the country was rocked by the kidnap and murder of DATE schoolboy PERSON in southwest GPE. His corpse was dumped on the doorstep of his family home when his parents failed to pay common criminals a $MONEY ransom.
But in a country where even conservative estimates put the number of abductions at DATE, the tragedy of young PERSON, of NORP, was almost forgotten by DATE.
Anti-kidnap czar PERSON was jeered by crowds as he delivered a message from President PERSON pledging to crack down on kidnapping.
The catcalls were preceeded by chants of ""Serrano will save the motherland"", in support of the no-nonsense chief of ORG, who heads the fight against kidnapping and drug-trafficking.",1
"GPE would, if requested by GPE, provide its support to stabilise fluctuations in the territory's financial markets after the handover DATE, GPE's central bank governor said on DATE.
""In case of need, ORG will, at the request of ORG (HKMA) and in accordance with LAW and market practices, provide its support,"" said PERSON during a dinner speech to ORG.
But ORG said he believed the HKMA was fully capable of handling fluctuations in GPE financial markets around the handover.
The NORP colony reverts to NORP rule at DATE. Under joint NORP treaties, GPE will maintain its own separate financial regime and currency.
Dai did not elaborate on what measures the central bank would take if the need arose.
In response to reporters questions, ORG said there was no truth in recent press reports that GPE was putting together a MONEY fund to help stabilise GPE financial markets after the handover.
""I don't know where those reports came from. There is no such thing,"" PERSON told reporters at a press conference after the dinner.
GPE's central bank was determined to let GPE run its own financial system, he said.
""ORG will not replace the ORG and will not set up any branches in GPE,"" PERSON said. ""Mainland financial institutions in GPE will not enjoy any special privileges. They will be subject to the same supervision of the financial regulatory authorities of GPE on the same regulatory standards.""
He also said GPE would not levy any tax in GPE nor would it, for any reason or in any manner, use GPE ORG or other assets.
ORG said mainland companies participating in GPE market would be on the same footing as foreign or GPE firms.
Addressing concerns that GPE would overtake GPE in financial importance, ORG said GPE's financial status would be enhanced in the future.
""However, for a relatively long period of time, it (GPE) will not be an international financial centre, let alone replace GPE,"" he said.
PERSON also said there was a close business relationship between GPE and GPE.
GPE investment in GPE reached MONEY by DATE, accounting for PERCENT of total foreign investment in the mainland.
In DATE, PERCENT of syndicated loans in GPE were arranged in GPE and PERCENT of NORP enterprises listed overseas chose to list in GPE.
-- GPE (CARDINAL) 2843 6441","Commercial sponsors have flocked to the NORP enclave of  GPE to back DATE's annual ORG despite fears that GPE wants to steal the show.
Fans of LOC's answer to PERSON fear a ORG CARDINAL track, recently constructed just across the border in the southern NORP city of GPE, will seduce sponsors and signal the death knell for GPE's PERSON race.
GPE has no special track with the race run through the enclave's twisting streets.
But the concerns have not materialised DATE at least and GPE is festooned with banners, kiosks and giveaways from sponsors including NORP oil concern ORG, ORG and GPE beer, watchmaker PERSON and NORP tyre manufacturer GPE.
""GPE hasn't really affected GPE because most of its sponsors are here for very specific reasons,"" said PERSON, an organiser of ORG.
The DATE event, QUANTITY west-southwest of GPE, started in DATE and many of the world's top drivers have cut their teeth on the tricky QUANTITY (QUANTITY) Guia street circuit. Double PERSON CARDINAL world champion PERSON, and current ORG champion GPE are past GPE competitors.
GPE also insists it is not seeking to edge GPE out of hosting international motor racing.
""We won't affect GPE. GPE's speciality is in the ORG CARDINAL, our aim is to host ORG and the GT (ORG) Rally,"" PERSON, vice-mayor of GPE, said in a recent interview.
Elf, one of the event's major sponsors, said there was no reason for it to pull out of GPE even though another race track has sprung up in GPE.
""GPE has a history of automobile racing. As long as ORG CARDINAL Grand Prix exists in GPE, Elf will be present in GPE. Business and selling products is CARDINAL thing, sport is another,"" PERSON, ORG's director of commercial activities told ORG.
""What we wish to build in LOC are several (motor racing) schools to develop young drivers from GPE and rest of LOC ... we want to find potential champions in LOC.""
Elf sponsored a ORG in DATE at FAC International Race.
ORG, which lost its bid as fuel sponsor to Elf in DATE, said it would tender for the DATE GPE race.
""GPE and GPE have their individual merits, like individual tenders. GPE belongs to our GPE business (budget) rather than GPE. We'll try to do it DATE,"" PERSON, a spokesman for ORG, said DATE.
But GPE, which is determined to muscle its way into the glamourous circuit of international motor racing, is expected to give GPE a good run for its money.
GPE, just QUANTITY (QUANTITY) northeast of GPE, boasts a QUANTITY dedicated racing circuit.
ORG (FIA) is conducting a study on whether its is up to standard for endorsement as a suitable PERSON CARDINAL venue.
FIA is also discussing with NORP officials GPE's possible hosting of a ORG race in DATE, a senior GPE government said.
""What GPE has done is that it has opened up a whole new area of sponsorship. People who hadn't sponsored car racing before seem to be coming to GPE to see if there's a possibility of being involved in sponsorship,"" de Kantzow said.",1
"PRODUCT and ORG and others agreed on DATE that the so-called Internet browser wars were silly, although that did not stop some sparks from flying between the CARDINAL battling CEOs at a computer conference here.
ORG and ORG are locked in a few battles over Internet software, with the most attention being paid to the fight for share in the Internet browser market, where ORG is an underdog.
""I do think there is a certain silliness about these browser wars,"" said PERSON, chairman and CEO of ORG, on a panel at a ORG technology symposium here. Case's ORG was CARDINAL of the ORDINAL online services to embrace Internet ORG as its preferred browser software, in exchange for a spot on ORG's Windows 95 desktop.
Case said that he believes ORG and PRODUCT will end up with comparable market share and he likened the battle to the set-top box war in DATE of the cable television industry during DATE.
Netscape still dominates the Internet browser market with its ORG software, which has CARDINAL to PERCENT share of the market.
But ORG recently said that its Internet ORG is gaining momentum, as it continues to sign on more deals to have Internet Explorer bundled as the primary browser with more online services and Internet access providers.
DATE, Internet Explorer became the preferred browser on ORG's ORG Internet access service, fueling some analysts to say the deal was another blow to ORG's dominance of the browser market.
PERSON, president and CEO of PRODUCT, pointed out that while the feud between Navigator and Internet Explorer is the ""current blood sport in the popular press,"" he pointed out that PERCENT of ORG's revenues are from sales to the corporate network or ""intranet"" market.
In that market, PRODUCT is aiming to hold onto its dominance of the server that runs internal corporate networks and is competing with ORG's ORG and with ORG ORG.
PERSON, chairman and CEO of the software behemoth ORG, said that the competition between PRODUCT and ORG is good for the market.
""We compete with PRODUCT and there is a lot of value there,"" he said, adding that ORG has many developers working pretty much at ""full speed"" to develop new Internet software. He conceded that in part, the fast-moving competition from PRODUCT has fueled this intensity.
CARDINAL area where the sparring companies did agree was on the Internet itself, which both ORG and ORG said should remain free of government intervention.
""No one will come to dominate standards on the Internet, that's why it works,"" said ORG.
Gates drew laughter when he said that ORG, which dominates the operating system arena with Windows software, will still make ""some percent"" of the operating systems. But he also said that ""no one will control the printing presses"" of the Internet.
CARDINAL ORG analyst asked ORG if that view was contradictory with ORG's recent request to ORG to investigate ORG's Internet marketing tactics.
""In that matter...all we've asked is 'let's stay with the consent decree,'"" ORG said, referring to the DATE consent decree between ORG and ORG, which set restrictions on ORG's behavior.
""We don't believe they are doing that,"" said ORG, in an interview with ORG after the panel. But he declined to speak further on the ORG's latest request for information from ORG, saying that he is having his lawyers do the talking.
Gates was mum on the DOJ during the panel and he shook ORG's hand after the session. The CARDINAL also pointed out that they are working together to develop industry standards for credit card transactions over the Internet, after being on opposing sides of that battle.
""I don't want this to sound like a love-in, but PERSON's company and my company work together with PERSON's company (PERSON, president and CEO of ORG) to make (credit card transaction) standards,"" ORG said. ""Otherwise we would all be dead.""
But the CARDINAL CEOs collided on their views of the future. Gates, who is known for being an industry visionary, forecast that within DATE many things on the Internet will change and be easier to use, such as the use of URLs (universal resource locators) to find World Wide Wed sites.
""In DATE I am quite optimistic that there will be some radical breakthroughs,"" Gates said, adding that users will look at things like URLs and see how silly they were.
Barksdale, however, pointed out that such predictions are impossible to make.
""We have to be honest, despite my learned colleague Mr. PERSON's comments,"" ORG said. ""It's very hard to predict DATE. How many of you would have predicted DATE that we would have a panel on this topic or that WORK_OF_ART would be on this panel?"" he asked, pointing out that PRODUCT did not even exist DATE.","ORG is expected to announce on DATE that it is dissolving its Wow! consumer online service as it gives up on the consumer market and refocuses on the corporate market, industry sources said.
A spokesman for the GPE, GPE based company declined to comment, saying he could not comment in advance of a ""strategic announcement"" CompuServe plans DATE.
The struggling online services company has been under more pressure in DATE from ORG, ORG and Internet access providers.
The company plans to halt its marketing aimed at consumers and it will expand its emphasis on corporate customers in the GPE and LOC. CompuServe will try to convert its CARDINAL Wow! users to its core ORG and it will not abandon its current consumer users, sources said.
But it will not make the consumer business a key focus, as it cedes to the dominant GPE Online, which is growing its subscriber base again, after a hiccup in growth DATE.
Wall Street analysts said that such a move could entail some layoffs at CompuServe, and possibly a restructuring charge to cover Wow! employees who cannot be reassigned.  
ORG's move comes on the heels of some recent aggressive actions by ORG to stay on top with its plans to shut down its ORG direct Internet access and its announcement to cut its workforce by CARDINAL employees and take a MONEY charge in DATE.
ORG also announced flat-rate pricing of $MONEY a month for unlimited access, bowing to the competition from Internet access providers and their flat DATE rates of $MONEY.
CompuServe's Wow! service is a flat-rate service, for $MONEY a month, but it could not be learned if ORG will change the pricing of its core ORG service as it dissolves Wow.  
CompuServe hopes to move all its Wow! subscribers over to its core service by DATE.
""They have a separate productions staff, separate marketing, etc,"" said PERSON, an analyst at ORG, adding however that ORG has tried to keep Wow! extremely lean and some employees will likely be moved to the main service or to ORG, its Internet service.
Since CompuServe went public in DATE, its prospects have dimmed, with its stock tumbling from its initial offering price of $MONEY a share. Its shares now trade at around $11-5/8, since it has announced losses and a drop in subscribers.  
""They have had a whole lot of problems since they went public,"" said CARDINAL industry source. ""They need to reposition the company.""
CompuServe is the ORDINAL largest online service after GPE Online.",1
"GPE said DATE it expected talks with GPE soon on a dispute over GPE sanctions on its textiles and its own threat to retaliate.
GPE also said it was still too soon to say which GPE imports would be banned if GPE failed to withdraw penalties on imported NORP textiles.
""We expect to see working level talks with the GPE in the near future,"" an official of ORG told ORG. ""The CARDINAL sides will exchange views,"" he said.
GPE said DATE it would suspend temporarily its imports of some GPE textiles, farm goods, animal husbandry products, fruits and alcoholic drinks in retaliation for GPE's imposition of punitive charges on NORP purchases of NORP textiles.
The temporary import ban is to take effect on DATE.
In DATE, GPE announced punitive charges against import quotas for NORP textile goods, accusing GPE of using shipments through other countries to avoid GPE quota restrictions.
GPE said the action was taken without consultation and with no clear supporting evidence, adding that it had no choice but to impose retaliatory sanctions.
""We are still seeking the views of NORP enterprises about which products should be included under the ban,"" the NORP official said. ""That will be determined in DATE.""
The total of trade affected by GPE's action was estimated at MONEY -- only a fraction of NORP-U.S. trade, which is now heavily in GPE's favour. GPE says its trade deficit with GPE DATE was MONEY.
GPE's threatened trade ban, made ahead of a planned visit to GPE DATE by GPE Secretary of ORG PERSON, meant yet another face-off in the frequently testy NORP-U.S. ties.
Relations have been strained over DATE by a range of issues, from GPE to arms proliferation to trade and human rights.
GPE and GPE have said they saw an improvement in relations since they narrowly averted a trade war over copyright piracy and exchanged diplomatic fire over GPE's political rival GPE DATE.
The CARDINAL sides are preparing for high-level exchanges DATE, including a possible visit to GPE by Vice President PERSON and a summit between NORP President PERSON and President PERSON.
PERSON's visit was expected to pave the way for these meetings.","Central bank independence is not usually a hot topic in GPE but the territory has been debating the subject with vigour DATE before its return to GPE.
Remarks by chief executive-designate PERSON stirred up a subject that raises blood pressures around the world when he said changes were possible in the reporting structure at ORG.
Tung, who takes over from Governor PERSON on DATE when GPE cedes control of the colony to GPE, seemed to suggest that at some point, the head of the HKMA could be required to report directly to the chief executive rather than to the Financial Secretary.
""There is now already a structure for the future as to who the head of ORG reports to,"" Tung said, when pressed by reporters on DATE.
""As to whether this is the right structure for the future, that's something we can really examine.""
GPE reaction to the comments was largely negative even though most experts acknowledge the HKMA's powers are much more limited than those of central banks in developed nations, where political interference is viewed with high suspicion.
""It struck me that one might want an additional layer between the chief executive and the head of the central bank,"" said PERSON, head of currency at ORG.
Politics, not economics, is driving the debate, said CARDINAL economist. The HKMA's primary function is not to set monetary policy but to manage the GPE dollar, which is pegged at HK$7.80 to the GPE currency.
""This is just a political game,"" he said. ""The HKMA is a manager rather than a policy-maker.""
The HKMA has never experienced political interference in monetary management, said HKMA chief executive PERSON.
""If anybody were to come and tell me to do something about, for example, unemployment or inflation or growth in the economy, I would just say 'No,' this is not my responsibility,"" PERSON said in a speech in GPE on DATE.
The HKMA was formed in DATE by merging the government department responsible for managing GPE reserves with ORG.
With this as its primary function, the influence of the HKMA on the domestic economy is limited.
""I don't see the need to change the existing system. It seems to be working very well,"" said PERSON, senior economist at ORG.
Chan also noted that GPE enjoyed excellent relations with ORG, the NORP central bank, which has repeatedly stated its commitment to the GPE dollar peg and GPE continued monetary independence.
The lack of any clear advantage of change has led to speculation that personalities are at stake.
By removing the HKMA from LOC, the government would seriously constrain the influence of the outspoken Financial Secretary, PERSON.
Meanwhile, there are reports that PERSON will be appointed one of GPE's principal officers in his new ORG.
A GPE government spokesman denied that ORG's relationship with PERSON was tense, and said any changes to the reporting structure at the HKMA was something to be decided by the government of the new LOC following the transition.
Tung declined to elaborate on his remarks on DATE.
-- GPE (CARDINAL) 2843 6470",0
"NORP holding company ORG said on DATE it was buying PERCENT of car parts manufacturer PRODUCT, solving a problem which has occupied the government, GPE's car makers and NORP businessman PERSON.
ORG, a NORP investment firm controlled by PERSON, sold the PERCENT stake to ORG (CGIP), for a sum which could total MONEY, if PERSON hits DATE profit targets.
The PERSON stake has been on the market for DATE, as ORG sought to raise cash to reduce debts, and sparked GPE interest which set off alarms among NORP car makers. NORP industry minister, ORG, said he wanted a ""NORP solution"" for the PERSON holding.
But the PERSON purchase was made because ""it is good for our group, our shareholders and for PERSON,"" CGIP chairman PERSON told a news conference, explaining why his company chose to become the lead shareholder in LOC.
The PERSON purchase was driven by ORG's desire to rebalance its portfolio away from the packaging business, in which ORG had PERCENT of assets following the acquisition of ORGamp; ORG shares DATE in exchange for its interest in ORG.
CGIP halved its stake in FAC to PERCENT DATE and with the MONEY proceeds, helped pay for the holding in GPE, which has significant growth potential, Seilliere said. These were ""parallel operations"" he said.
The question of keeping PERSON in NORP hands did not figure in its calculations. ""It's not our problem,"" he said.
CGIP wants PERSON to adopt a more generous dividend policy, pursue acquisitions more aggresively and use debt financing to leverage its financial results.
""We will ask for a payout of a ORDINAL of the net,"" Seilliere said. PERSON has historically paid out PERCENT of net profit, while the average on the GPE stock exchange is PERCENT.
The CGIP move seemed to have borne fruit as PERSON said as part of the acquisition announcement it will make an exceptional 10 franc dividend DATE, for which ORG would still be the beneficiary.
But PERSON's chairman PERSON emphasised ""There is no change in direction,"" he told a separate news conference. The priority will be a ""strong and healthy balance sheet,"" and the company will pay particular attention to pursuing ""controlled and profitable growth,"" he said.
He added that PERSON had relied on its own resources in the past as ORG did not want to see its PERCENT stake diluted in any capital raising in the markets.
With the new ownership structure, PERSON would be free to tap the markets for funds when it saw acquisition opportunities.
NORP car industry analysts said the deal was good news for all involved. PERSON had a solid partner in CGIP to develop on its own, even if this would not rule out a merger with another car parts firm in DATE as the industry changed.
In the deal, GPE, LOC's ORDINAL largest car parts maker and a leading supplier of NORP and NORP carmakers, said it would make a DATE dividend downpayment of MONEY. Another payout of MONEY per share would be made to ORG if PERSON's DATE net attributable profit hits MONEY.
Shares in CGIP closed PERCENT higher at MONEY while PERSON ended PERCENT. ORG was down PERCENT at MONEY.","ORG reported strong DATE results on DATE but raised concern DATE, sending shares on a roller-coaster ride.
ORG's DATE earnings of $MONEY a share was just MONEY above the Wall Street consensus estimate of $MONEY. ORG opened off, then climbed to CARDINAL during its analysts' call.
But analysts said comments by its chief financial officer about continuing negative impact from currency, memory prices and higher expenses dampened his otherwise bullish outlook.  
""There were some cautionary comments DATE,"" said PERSON, a ORG analyst, adding that he was revising DATE estimates.
Some analysts started cutting DATE numbers after the conference call, reflecting the company's comments about a bigger currency impact, continued drop in memory chip prices and higher-than-expected DATE restructuring costs.
In general, analysts said they were pleased with ORG's ongoing cost-cutting, its successful transition to new products in all its hardware areas and its investments in its future growth. Revenue growth was also better than expected.  
""I think the most impressive was the revenue growth,"" said PERSON, a ORG analyst. ""It's coming from all other products except for mainframes."" As expected, ORG said its mainframe revenues fell in DATE.
Previously, ORG had expected that currency and memory chip prices would have a diminished impact on DATE.
But DATE, ORG said it could have a slightly bigger negative impact from currency rates than the $MONEY a share it saw in DATE and memory prices would continue to hurt its semiconductor business, comments that had a dampening effect on analysts hoping for DATE.  
Analysts still expect ORG to report DATE, because many other products are doing well and it will also begin to see sales of its recently shipped models of its lower-cost mainframes. But they also need to account for ORG's comments that it will begin spreading out some of its mainframes sales over DATE.
PERSON, ORG's chief financial officer, told Wall Street that a ""growing proportion"" of ORG's mainframes sales are going through its computer services business, and therefore, ORG will not see the full sales in DATE for all its machines.  
""If you sell a mainframe for $MONEY and you lease it or it's on a services contract ... rather than $MONEY at once, you have $MONEY a quarter,"" PERSON said in an interview, adding that this is ""just an example.""
Thoman buoyed analysts with news that ORG's mainframe installations, which grew CARDINAL perent, are growing ""almost back to DATE"" levels. But even with such strong customer interest, ORG's prices are still so low that revenues are still expected to decline, while mainframe profits are forecast to be hefty.
""DATE it did not come from mainframes,"" said PERSON, a ORG analyst.
""Mainframes are not a growth area for them,"" he said. But mainframes are still ORG's ORDINAL most profitable hardware product, after its AS/400 minicomputers.
DATE was also marred by a prediction that ORG will take a bigger-than-expected restructuring cost. Originally, ORG had predicted MONEY per DATE, but said on DATE that it will spend MONEY in DATE.
ORG said the increase resulted from more employees taking its voluntary buyout plan in LOC in DATE.",0
"A longstanding row over market share between rival plane makers ORG of the GPE and LOC's ORG consortium resurfaced on DATE, when ORG claimed to have overtaken the GPE giant.
ORG senior vice president for strategy PERSON told reporters at the PERSON air show that if CARDINAL cancellations of previous orders at ORG were taken into account, the GPE firm had added CARDINAL net new orders DATE rather than the gross orders of CARDINAL planes announced.
""You have to be very careful when people are running around at air shows talking about gross order books because gross orders aren't what you can bill,"" he said. ""Essentially a ORDINAL of the ORG order book has been cancelled DATE.""
ORG, with CARDINAL cancellations, has so far had CARDINAL net orders DATE, putting it ahead of the GPE-based firm, he said.
Based on planes seating CARDINAL passengers in which ORG fields a competitor product to ORG -- ORG does not have a 100- or CARDINAL-seater -- the NORP grouping claims a PERCENT share, crediting ORG with PERCENT and ORG with PERCENT.
ORG said since DATE, ORG's share had shown a slow but noticeable decline while ORG showed a strong increase. ORG had seen a steep loss.
But ORG vice-president for marketing PERSON told ORG, even with cancellations, the company was exceeding targets for DATE of around PERCENT market share.
""Orders are exceeding our targets and are doing very well,"" he said. ""We just don't agree with their numbers.""
Although ORG has increased its share over DATE, this had not been at ORG's expense but came out of ORG sales. ""It's not coming out of ORG's hide.""
Production figures gave a clearer view of the company's advance, he said. ORG had recently increased production of its CARDINAL giant twinjet to DATE from CARDINAL and would be turning out the PRODUCT narrow-body at a rate of CARDINAL planes per month late next year. He gave no figure for present output.
ORG' ORG reaffirmed the group's aim to develop the CARDINAL, a plane seating over CARDINAL, for MONEY, or perhaps less, thanks to industry restructuring efforts.
The CARDINAL-nation partnership aims to deliver the ORDINAL CARDINAL in DATE, he said. He also defended the company's market forecast for the plane, which showed there was demand for the aircraft.
ORG executive PERSON said of the CARDINAL, which is seen as key to attacking ORG's lucrative monoploy at the top end of the market, ""We are not in a race with ORG on this programme. If ORG were to launch a stretched derivative of their veteran, DATE PRODUCT, it will come as no surprise to us."" That would allow ORG to ""fine tune"" the CARDINAL, he said.
He added that ORG had said that there was not enough room in the market for CARDINAL makers of large planes. ""In that case I would suggest that they opt out of the competition because once the PRODUCT is on the market maybe they will be proven right -- there will be no room for old derivatives.""
ORG's PERSON said he could not see how ORG could build the CARDINAL for MONEY, ""unless they see something that we can't.""
Boeing Commercial Airplane Group president PERSON said on DATE its studies showed it would cost MONEY to build large planes seating CARDINAL and CARDINAL derived from the existing PRODUCT jumbo jet, which would be cheaper than creating a new plane like the CARDINAL.
The ORG consortium comprises NORP ORG, ORG, GPE's ORG and ORG of GPE.","State-owned ORG on DATE reported dramatically improved earnings of MONEY (MONEY) in DATE and placed a bumper order for CARDINAL ORG and ORG aircraft, plus options.
The profit estimate for DATE, which emerged in an ORG board statement, compared with a loss of MONEY DATE.
The improved results and ORG aim to break even in CARDINAL was underlined with orders for CARDINAL ORG CARDINAL twinjets, and options for CARDINAL more. The airline also ordered CARDINAL ORG, confirmed CARDINAL orders made in DATE and options for a further CARDINAL.
ORG chairman PERSON won vital support from Prime Minister PERSON to buy from GPE-based ORG instead of ordering solely from its archrival ORG , the NORP consortium based in southwest GPE.
At catalogue prices, which are rarely paid, the orders and options for the ORG PRODUCT version ordered could be worth MONEY. ORG would stand to gain MONEY.
List prices for the B777-CARDINAL range MONEY, while the ORG PRODUCT costs $110 to MONEY.
""In the reorganisation of its fleet, ORG is obliged to buy ORG,"" Transport Minister PERSON told parliament.
""It is obliged to meet commitments made in DATE, unless it accepts losing deposits and taking legal action which risks being much more expensive than taking this decision.""
The NORP airline had orders outstanding with ORG worth MONEY and MONEY of options, PERSON said, adding that the airline had skillfully negotiated the latest order to respect the initial undertaking.
The CARDINAL state representatives on the ORG board approved the ORG CARDINAL purchase ""not because they are the best or the most profitable but because they best meet the company's needs,"" PERSON said.
ORG had also accepted to be a launch customer for the planned A340-600, a ""stretched"" version of the A340, he said.
ORG hopes to build the CARDINAL-seater to smash ORG's monopoly at the large capacity aircraft segment.
ORG said that due to financial problems, it froze at DATE all aircraft orders, including the DATE ORG order, and opened talks with the CARDINAL plane-makers.
ORG has since rationalised its fleet, restructured its network around a centralised ""hub"" at GPE PERSON airport and optimised aircraft use. It has over DATE increased the number of flying hours by PERCENT.
Pons welcomed ORG financial results, saying: ""The results are very encouraging.""
The company said it made its profit despite a rise in spending on fuel of MONEY for the period.
Turnover was up PERCENT to MONEY due to a PERCENT increase in passenger traffic and a PERCENT rise in freight.
Operating profit rose PERCENT to MONEY, compared with CARDINAL in DATE period. The pretax, pre-exceptional result tripled to MONEY.
ORG was ahead by ""a little more than 250 million francs of its budget"" at DATE stage, the company said. DATE is traditionally better for seasonal reasons and should not be used to extrapolate for DATE, it added.
Debt stood at MONEY at DATE, versus MONEY at DATE. The repayment of MONEY significantly exceeded the last tranche of its state recapitalisation paid in DATE.
The ORG order consists of the heavier ""Increased Gross Weight"" version of the basic CARDINAL, equipped with PRODUCT engines built by ORG and GPE's ORG. The B777-200 will seat CARDINAL passengers in CARDINAL-classes.
The ORG order is for the A340-200E version equipped with CFM56-5C4 engines. ($MONEY French Franc)",1
"ORG suffered CARDINAL of its biggest DATE falls ever on DATE, as waning foreign interest due to a lack of market transparency continues to run roughshod over the beleaguered bourse.
CARDINAL of the ORG's CARDINAL largest issues fell sharply in active trading, pulling the ORG RPIX index down PERCENT to CARDINAL.
Long-criticised for its lack of transparency and regulation, analysts say DATE's loss was yet another sign that investors, especially foreigners, are pulling out of the market having grown tired of failed promises of reform.
""There's just a total lack of interest in this market,"" said PERSON of ORG.
""Fundamentally, companies look pretty cheap, but the lack of foreign interest and PRODUCT fearing the possibility of a devaluation and looking abroad (mean) you don't have tha much buying interest.""
Under GPE Securities Act, which was devised to handle the logistics of the government's massive voucher privatisation scheme, ORG) is bound by law to provide services such as moving securities to and from client accounts.
Since the ORG does not reveal any details of transactions, including prices and volumes, brokers have taken to the SCP because of its privacy and faster settlement process.
The problems have restrained the ORG which sees on average MONEY of stock changing hands DATE, compared with MONEY turnover in GPE, where the market has a capitalisation of MONEY.
""Unambiguously, a notable portion of foreign investors are not satisified with the current state of the NORP capital market,"" said PERSON of Patria Finance.
In DATE, parliament approved a series of market reforms to compel companies and fund managers to be more open and accountable. A key element tackles the chronic problem of slow and irregular reporting of company earnings and actions.
The ORG has taken several steps to brings more transparency to the market, but some analysts say that the process is taking too long.
In DATE, ORG pledged to improve the state of the market, stressing in particular the need for the early creation of an independent watchdog.
But many analysts were disappointed by the lack of strong enforcement requirements, as market supervision is still kept in the hands of a small, under-resourced ORG department.
And some question whether there is even the political will here to change the market, or if a few regulations will be enough to change the attitude of many market participants.
""The problem isn't only with market regulations. I don't feel the political will which can bring change and prevent frauds.,"" PERSON, manager of ORG was quoted in the dsaily FAC as saying on DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003","The NORP trade deficit jumped sharply in DATE, rising nearly 16 billion crowns, but analysts said they were not alarmed by the rise which is inline with DATE forecasts.
ORG (ORG) said on DATE the trade gap for DATE hit a record CARDINAL crowns, up from a revised MONEY crown shortfall for DATE.
The ORG, ORG, and most analysts, however, have predicted the deficit -- accelerated by an economic slowdown with the country's main trading partner, GPE -- will finish at a record 150-160 billion crowns.
""The figures are developing according to forecasts. It's clear that the DATE deficit will be MONEY crowns,"" said PERSON, chief economist at ORG.
""I'm not surprised by the jump since the economic revival of GPE will only show up in export growth in DATE, not in DATE,"" he added.
The ORG in a statement said that imports rose by PERCENT year-on-year for the DATE period, down from PERCENT for DATE, while exports rose by PERCENT, down from PERCENT for DATE.
It added that strong growth in machinery and transport equipment imports continued, growing by PERCENT year- DATE and accounting for PERCENT of total imports.
Analysts said they were encouraged by the rise in this sector, saying that imports of this nature are needed to restructure industry, allowing it to produce more competitive goods for exporting.
""The trend seems unchanged. The financing of future economic growth is being done with imports, especially in the heavy machinery sector,"" PERSON, an analyst at ORG told ORG.
Added PERSON of Patria Finance:""The country is still clamoring for machinery and raw materials which are necessary for industrial restructuring.""
Prime Minister PERSON, a monetarist-economist, has said the record trade deficit is ""not tragic"" saying it has come in part from a temporary foreign investment wave.
The NORP crown reacted indifferently to the trade figures, hovering PERCENT above its dollar/mark basket parity, where it was for most of DATE.
The crown was trading at CARDINAL to the dollar at DATE local time (CARDINAL ORG).
The rate implies a deviation from the midpoint of the currency basket of PERCENT, after the central bank's fixing on earlier on DATE at PERCENT.
""The market is neither alarmed nor pleased with the figure. If the deficit hits the forecast level, I doubt we will see any significant change in the currency's value,"" said CARDINAL local forex dealer.
-- GPE newsroom, CARDINAL-2-2423-0003",1
"ORG showed a dynamic performance in all businesses in DATE, and better than ORG or ORG will manage in long-distance telephone, analysts said.
But uncertainty surrounding the success of expensive new ventures, and continuing dilution of earnings from funding them, are a big and enduring question mark for investors.
""There is a CARDINAL-sided story here: The businesses are growing very well, but there is all this dilution from new ventures,"" said analyst PERSON of ORG.  
ORG DATE earnings per share were broadly in line with analysts' estimates at $MONEY, down from $MONEY DATE, weighed down by the cost of new ventures, a PERCENT increase in shares in issue and a CARDINAL point tax rate rise.
But top line growth was outstanding, analysts said. Call volume carried soared by PERCENT from DATE, while revenues increased PERCENT over DATE.
""Clearly this is going to be the strongest growth of the big three (ORG, ORG, ORG) in long-distance volume and revenues,"" said PERSON of brokers ORG.  
However, the shares managed only a restrained rise of CARDINAL to CARDINAL by DATE EDT/1700 GMT DATE.
CARDINAL complex multi-billion dollar ventures, ORG and ORG, caused respectively MONEY per share of earnings dilution in DATE, and more is seen.
ORG PCS is a wireless ORG (ORG) national network being built for tiny new mobile phones that have better battery life and building penetration than existing cellular services, and extra features like paging.  
ORG owns PERCENT of ORG, ORG owns PERCENT, and ORG and ORG each own PERCENT.
""The question mark over the company is ORG and its ability to execute the strategy,"" said PERSON of PERSON.
PCS services are already operating in CARDINAL metropolitan area, GPE, and ORG expects to launch CARDINAL more in DATE and to be in CARDINAL by DATE.  
But as each new market opens, the amortization of the license cost -- ORG paid a total of MONEY for licenses -- plus marketing, network costs and subsidised handset costs also kick in.
Analysts estimate that ORG could suffer MONEY dilution from those costs in DATE. The more successful it is with ORG, the higher these costs will be.
""PCS will not breakeven for DATE,"" PERSON said. ""But PRODUCT should breakeven sometime in DATE,"" he added.  
PRODUCT is an international venture designed both to act as a carrier of services for other telecommunications companies, and a CARDINAL-stop shop for multinational corporations.
It is CARDINAL owned by ORG, and a quarter each by ORG and soon-to-be privatised Deutsche Telekom.
The NORP companies also took a PERCENT stake in ORG for MONEY in DATE, which accounts for the extra shares in issue.
ORG said that ORG is on course for annualised revenues of MONEY a year by DATE, but ORG said it was harder to figure out the earnings position.
""The visibility of earnings at ORG is not very good yet,"" Flannery said. -- GPE 212 859 1712","NORP households are likely to pay less for water and get a better service from cash-rich privatised utility companies in DATE, the industry regulator promised consumers on DATE.
Water watchdog PERSON told privatised water companies -- whose bills and fat executive wages have fuelled vitriolic criticism from consumer groups -- that he expected them to pass on significant efficiency savings to customers in DATE.
""Lower costs mean falling bills,"" PERSON warned them in a letter setting out his proposed objectives and timetable for the price review, which will be completed in DATE.
""At the next review, I will expect companies to demonstrate improving standards for their customers and efficiency gains will allow prices to come down in real terms, despite continuing capital investments,"" he said.
Byatt, who plans to call DATE for comments on his plans, will impose new price curbs on CARDINAL water and sewerage companies in GPE and GPE from DATE.
A spokesman for ORG trade group said that lower bills depended on what new quality and environmental obligations were be set by LOC and GPE -- and how much needed to be spent on new water resources.
But ORG consumer group said that in the absence of competition, it was looking to Byatt to take ""the toughest action possible"" to get water bills down.
""In my view, water companies have rewarded their shareholders handsomely but have treated their customers much more mean-spiritedly,"" said deputy chairman PERSON. ""Customers have had enough of big profits and rising dividends and, at best, being handed back the small change.""
Water groups are the only utilities to have raised prices since privatisation in DATE, blaming costly infrastructure investments and new swimming and drinking water quality control directives from ORG.
The opposition ORG, which is expected to levy a CARDINAL-off tax on the profits of privatised utilities if it comes to power in the next election, is widely considered to have discovered CARDINAL of the few ""popular"" taxes.
Headlines such as: ""Like water off a duck's back"" greeted ORG's last review, which came into effect in DATE, as shares surged. Consumer groups charged that PERSON had been too lenient.
But ORG said CARDINAL of the new review's main aims would be to ensure that water companies' savings over DATE should be quickly given to customers.
He also does not want spending on water quality, maintaining supplies and reducing leakage -- which sparked criticism during a drought in DATE -- to be passed onto household bills.
Amid charges that regulators are out of touch with the industry and underestimate its cash-spinning powers, PERSON is mulling appointing senior industrialists to help find a balance between consumer bills and maintaining companies' efficiency incentives.
GPE's ORG charges the least for water -- not being responisble for any coastline. Average bills, at MONEY ($MONEY) per year, are PERCENT higher than in DATE.
Exeter-based ORG, with its long coastline, has the highest bills at MONEY per year -- a PERCENT rise -- according to DATE figures. ($MONEY Pound)",0
"A TIME strike deadline for ORG expired without a walkout as talks between the car maker and ORG continued into TIME on DATE.
A ORG spokesman declined to provide further details of the negotiations, saying the automaker would make a more detailed statement later on DATE TIME.
""They're still on the job,"" said PERSON, a union commiteeman for ORG Local CARDINAL at ORG's GPE, GPE, transmission plant, which started its ORDINAL shift shortly before TIME.
""The deadline's here and gone and they're still talking,"" Harp said of the negotiators at ORG's GPE headquarters.
Local ORG officials at other ORG plants also said they were told to stand by for further instructions.
The ORG cancelled its national contract covering CARDINAL ORG TIME workers TIME before TIME in a move to increase pressure on ORG for tentative agreement.
However, there was speculation among ORG officials DATE that instead of a national strike, the union could strike selected plants that make ORG's high-profit light trucks. Top on the list of such facilities were ORG's GPE, GPE, plant, which makes ORG and ORG and PRODUCT full-size sport/utility vehicles, and the GPE, GPE, plant, which makes ORG's popular full-size pickup trucks with extended cabs.
A selective strike at those facilities would inflict pain on ORG while minimizing the drain on the ORG's strike fund, which pays each ORG worker $MONEY a week. It also would blunt some of the political fallout from a massive strike close to the GPE presidential election.
ORG officials say the CARDINAL sides remain at odds over the union's demand that ORG follow the pattern set at ORG and ORG by guaranteeing employment for PERCENT of its current ORG workforce.
ORG, which has CARDINAL parts plants that it considers uncompetitive, wants to exclude several of those facilities from the guarantee, including a door hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE, that it wants to sell.
In settling the NORP strike DATE, ORG was able to secure a deal that included the selling of CARDINAL parts plants in GPE, PERSON and retained some flexibility to outsource more products. However, ORG agreed to guarantee pensions for workers in the CARDINAL plants or DATE and to allow them to transfer back to jobs that open up in other ORG facilities.
ORG still has CARDINAL workers in GPE and GPE idled because of lingering parts shortages associated with the NORP strike.","Home decorating giants ORG and ORGamp; ORG hope their new product to be launched on DATE won't make a splash.
The CARDINAL companies have invested DATE and MONEY in developing the ORGamp; ORG, a battery-operated roller system they claim will take the pain out of painting.
The ORG, which will be sold in ORG (do-it-yourself) stores across GPE from DATE for MONEY ($MONEY), uses an air-filled bellow system to squeeze the contents of a QUANTITY refill bag of GPE paint down a tube and onto a roller, with the flow controlled by a trigger.
The small, cylindrical Paintmate can be strapped on to the back to eliminate tiresome bending over. ORG; ORG spokesman PERSON told ORG, ""It is a long time since the ORG market saw a product of such significance.""
PERSON said the companies hoped to sell CARDINAL of the NORP-designed, NORP-made Paintmates in DATE in GPE, together with a million bags of paint.
If all goes well in GPE, which PERSON said was ""quite a sophisticated ORG market"", Paintmate will be rolled out across western LOC DATE, after which attention would switch to the huge GPE home improvement market.
ICI, which sells enough paint in the GPE to decorate CARDINAL homes DATE, hopes the product will revolutionise the way people decorate.
""It's quick, it's easy and I think people will find it fun,"" said ICI Decorative Paints international marketing director PERSON.
PERSON said the whole system could be flushed out with water. ""We think people would redecorate more regularly if the painting process was quicker and easier,"" he added.
The ORG's promoters hope to benefit from a surge in ORG sales, fuelled by an upswing in GPE's temperamental housing market.
The product's launch will be backed by a QUANTITY promotional campaign in GPE and LOC, with television adverstising starting in DATE. ($MONEY Pound)",0
"The NORP gold bug is nibbling away at ORG, the world's biggest nickel company.
The company whose name has become synonymous with nickel is turning its sights to gold, copper and zinc exploration in GPE, GPE, GPE's LOC, GPE and GPE.
""Our target exploration area is GPE,"" PERSON, ORG's vice-president of exploration, said in a recent interview.
""We've reassessed what we're doing, we've refocused on our work,"" he said.  
""When we got rid of ORG, it was sold at a substantial profit...It was not a strategic move to get out of gold. It was a strategic move to get out of that particular company,"" Horn said.
""There's nothing wrong with gold. If it makes money, we'll be there.""
Inco does not have any plans to go head-to-head with the world's huge gold producers, however.
""They always pay too much, but if we come across a situation where we find gold, we'll go for it, like we have in GPE,"" PERSON said.  
The company has budgeted MONEY for field exploration in DATE, slightly less than the MONEY in DATE. But CARDINAL recent alliances mean up to MONEY will be devoted to exploration through the junior partners, ORG said.
In addition to its alliance with PERSON, ORG also has an arrangement with ORG to explore in LOC, and a ORDINAL deal in the works.
The company has just about all the nickel it needs with continued exploration in GPE at the huge and expanding GPE's LOC in remote GPE as well as growing mines in GPE, GPE and GPE, Ontario.
Instead, PERSON hopes to grow through an exploration focus on copper, zinc and gold, PERSON said.
In DATE, ORG did not produce any zinc, but it produced MONEY of copper, MONEY of cobalt, QUANTITY of gold and MONEY of nickel.  
""We already market copper, so it's no big deal to us,"" said PERSON. ""And the technology for zinc is pretty well the same. We don't have to develop any new expertise to get into zinc.""
But gold?
Inco got rid of most of its gold in DATE, when it sold its controlling interest in ORG Gold production since then has been minimal.
Inco kept many of its gold experts on staff, however, and PERSON said the company has all the expertise it needs to mine gold.  
Analysts said PERSON is wise to use its solid status and its DATE history in GPE to explore the vast mineral potential there.
Inco, which has a huge nickel operation in GPE, has several exploration projects there and recently struck deals with ORG and NORP explorer Colony Pacific Explorations Ltd to step up its search for gold and copper.
Alliances with smaller companies will be key to ORG's exploration in the future, ORG said.","LOC largest gold producer, GPE-based ORG, reported lower DATE earnings on DATE due to an after-tax charge and higher operating costs.
""I think their DATE clearly underscores that ORG has made the transition from a growth company to one that's trying to maintain its existing base,"" said mining analyst PERSON of ORG.  
PERSON's net income for DATE fell to MONEY, or US$MONEY a share, from MONEY, or MONEY a share, in DATE.
Earnings were slightly below analysts' expectations.
PERSON pointed to higher cash costs, which rose to US$MONEY an ounce from US$MONEY an ounce DATE.
The company also took a MONEY hit to bail out of its ORG exploration project in GPE.
And PERSON hiked its exploration budget PERCENT, to MONEY for DATE, compared to MONEY previously.  
Investors seemed to shrug that off. PERSON's shares rose MONEYMONEY in heavy trading on ORG. In GPE, the stock rose CARDINAL to MONEY.
The market seemed positive to PERSON's plans to develop its ORG mine in GPE and its new GPE property in GPE, analysts said.
PERSON bought the GPE deposit DATE through its MONEY takeover of ORG, based on a minimum of QUANTITY of gold. According to the company, recent drilling on the property suggests the number was conservative.  
ORG said production at GPE should begin in DATE at a rate of QUANTITY of gold a year. Costs should be below US$MONEY an ounce thanks to a substantial silver credit and high grade gold.
Capital costs should be MONEY, the company said. It has CARDINAL drills on the property working to define the deposit.
""They are proceeding very aggressively on GPE,"" analyst PERSON said. However, he cautioned that it was risky to make such claims while drilling was still underway and a feasibility study is still a long way off.
At ORG in GPE, recent exploration suggests the deposit may extend across the nearby border into GPE, ORG said. Production is expected to begin in DATE, totaling QUANTITY a year at an operating cost of MONEY per ounce. Capital costs are expected of MONEY.
-- ORG CARDINAL CARDINAL",1
"NORP subscriber television company ORG said on DATE it was merging with ORG, a NORP satellite television company, to create one of the world's largest pay-TV groups.
Nethold is jointly held by PERSON, which is quoted on the GPE and GPE stock exchanges, and ORG, a listed holding company.
""This merger is a major strategic move, resulting in the creation of CARDINAL of the largest television groups in the world...particularly in the field of pay-TV with over CARDINAL subscribers,"" WORK_OF_ART said in a statement.
The new group will have significant positions in GPE, GPE, GPE, LOC, the GPE countries and GPE as well as a presence in several growing markets in central LOC.
The GPE stockmarket authorities had suspended trading in ORG shares on DATE TIME, sparking speculation of a link up between the NORP firm and ORG.
Its stock closed at MONEY on DATE.
ORG group ORG, a key shareholder in ORG, said in a separate statement it was delighted with the merger plan, which marked big step in ORG international development.
The pact would give the NORP company access to the fast-growing NORP market, ORG said.
It would also give the new group greater weight in negotiating purchases of copyrights and open opportunities for the launch of NORP theme channels.
ORG said it was comfortable with its investment in ORG. It said that in agreement with other ORG shareholders, it would seek to maintain the same scale of investment in the new company.
Under the terms of the deal, ORG will buy PERCENT of Nethold from Richemont and PERSON, paying with CARDINAL new ORG shares and MONEY in cash.
Following the issue of new ORG shares, Richemont and ORG will respectively own PERCENT of ORG.
ORG has interests in luxury goods and tobacco and owns such famous brandnames as ORG, Mont Blanc, NORP and PERSON.
Canal Plus said the deal had the backing of its main shareholders, media group GPE, ORG, bank ORG, and state bank ORG.
It is subject to regulatory and shareholder approval.","Chief Executive candidate PERSON, rated by a poll as the best man to deal with GPE after GPE leaves GPE DATE, said a proposed subversion law faces review by the post-colonial government.
""WORK_OF_ART post-handover constitution) clearly states that it is up to the future government to draw up its own law on these matters,"" PERSON told CARDINAL members of the CARDINAL-strong ORG that will choose GPE future leader.
""WORK_OF_ART government will have to review these issues after the handover.""
GPE hands its colony back to GPE at DATE. The GPE-controlled ORG is in the midst of a DATE vetting of GPE and CARDINAL rivals who are bidding to succeed colonial Governor PERSON.
The winner will be announced on DATE.
On DATE, GPE began the process of bringing in a law on subversion, laying down legal markers defining the concepts of treason, sedition, subversion and secession in a bid to head off NORP-style jailings of dissidents after the handover.
GPE has condemned the move but stopped short of saying whether the law would be scrapped when it takes over the territory.
Tung, a billionaire shipping tycoon, also told the committee that GPE should stand by GPE if GPE is under sanction by foreign powers.
""If sanction is for political reasons then we have to consider GPE position. Maybe GPE has to make some sacrifices,"" he said.
An opinion poll released on DATE showed Tung to be the favourite among the CARDINAL respondents and indicated PERCENT of them also believed PERSON was the candidate best able to communicate with the NORP government.
The poll, conducted by ORG, showed that PERCENT thought former chief justice PERSON could commmunicate well with GPE while businessman PERSON scored PERCENT.
But PERSON was seen as being the most impartial of the CARDINAL and the one most ready to voice his opinion to GPE.
Asked who was most likely to speak out against GPE, PERCENT said PERSON, PERCENT Tung and PERCENT Woo.
After DATE of questioning by the committee on DATE, PERSON emerged as a better communicator than he had during previous occasions, analysts said.
They said he produced a clearly focused vision for GPE, with the main thrust on putting business and economic interests ORDINAL.
During the quizzing by committee members representing GPE business community, PERSON blasted ORG, GPE largest, urging it to drop its anti-China stance and to play a positive role in the transition for the sake of GPE CARDINAL people.
""At present they are objecting to anything NORP,"" Tung said. ""This is not good in the long term or for the interests of GPE.""
The NORP are boycotting ORG, condemning its mission to pick the post-colonial leader as undemocratic and its task of assembling a new provisional body to supplant the elected legislature as a violation of handover pledges made by GPE.",0
"PERSON, the NORP building materials giant, is seen reporting slightly lower year pretax profits DATE as expected, but reporting a rise in its dividend payout.
PERSON was CARDINAL of many in the sector to issue a profit warning DATE when it said that year profits for DATE would not match DATE.  
But the group is seen turning in a more solid performance for DATE than rivals including ORG and RMC Group Plc who have been hit by their heavy exposure to the NORP market.
Analysts forecasts for PERSON's DATE profits ranged from CARDINAL stg to CARDINAL, with an average prediction of CARDINAL against CARDINAL DATE.
The dividend is expected to come out MONEY and MONEY, with analysts predicting an average payout of MONEY against MONEY DATE.  
A key reason for its relatively better performance compared to sector rivals is that that PERCENT of PERSON's revenues stemmed from the GPE market, an analyst said.
""The GPE may have its regional differences but nationally the economy is doing well,"" he said.
He added, however, that the GPE market remained difficult and GPE continued to be ""dreadful.""
GPE is expected to continue to be difficult, while in the GPE a recent uptick in the housing market may have fed through to materials firms -- but this remains to be seen.  
With a recent changeover of top management, market watchers will also be looking for evidence of any tinkering with the group strategy.
PERSON's existing strategy is seen as sound and analysts may be perturbed if there is evidence of it being radically altered, said CARDINAL.
No exceptionals are anticipated in the results.
--Edna Fernandes, GPE newsroom +44 CARDINAL 5427717","ORG (ORG) said there was an PERCENT rise in the amount of cargo by weight on both domestic and international flights during DATE compared with DATE and in DATE there was a PERCENT increase.
However there was a PERCENT drop in DATE's cargo load factor and a PERCENT fall during DATE, the ORG statistics show.
 Period	  AFTK    '95     Pct chge   Weight   CARDINAL    Pct
chge
DATE Intl
 One month	 CARDINAL	CARDINAL    9.4	  62	CARDINAL    8.8
 Cumulative    3,641    3,217   CARDINAL	 CARDINAL     CARDINAL    8.2
Domestic
 DATE	  TIME   CARDINAL	  CARDINAL	CARDINAL   13.3
 Cumulative	 CARDINALCARDINAL   CARDINAL     CARDINAL    9.2
Total
 One month	 CARDINAL	CARDINAL    9.8	  79	CARDINAL    9.7
 Cumulative    3,740    3,300   CARDINAL	 CARDINAL     CARDINAL    8.4
DATE Intl
 One month	 CARDINAL	CARDINAL   CARDINAL	  60	55    9.1
 Cumulative    4,188    3,699   CARDINAL	 CARDINAL     CARDINAL    8.3
Domestic
 DATE	  TIME   CARDINAL	  CARDINAL	16    0.0
 Cumulative	CARDINAL	CARDINAL   15.0	 CARDINAL     CARDINAL    8.1
Total
 One month	 CARDINAL     CARDINAL    13.7	  76	CARDINAL    7.0
 Cumulative    4,303   CARDINAL    13.3	 CARDINAL     CARDINAL    6.3
 Period	    FTK    '95     Pct chge   Weight   '95   Pct
chge
DATE Intl
 One month	 CARDINAL     CARDINAL    10.1	  75	74    0.5
 Cumulative    2,693   CARDINAL     CARDINAL	  74	CARDINAL   -2.7
Domestic
 DATE	   CARDINAL	 CARDINAL    12.0	  36	CARDINAL   -5.1
 Cumulative	 CARDINAL	CARDINAL    10.2	  46	CARDINAL   -1.4
Total
 One month	 CARDINAL     CARDINAL    10.1	  73	74    0.2
 Cumulative    2,739   CARDINAL     CARDINAL	  73	76   -2.6
August Intl
 One month	 CARDINAL     CARDINAL   CARDINAL	   CARDINAL	CARDINAL   -0.7
 Cumulative    3,104   CARDINAL    9.7	   CARDINAL	CARDINAL   -2.4
Domestic
 DATE	   CARDINAL	 CARDINAL    2.2	   CARDINAL	CARDINAL   -7.9
 Cumulative	 CARDINAL	47    9.3	   CARDINAL	CARDINAL   -2.3
Total
 One month	 CARDINAL     CARDINAL   CARDINAL	   CARDINAL	CARDINAL   -1.0
 Cumulative    3,155   CARDINAL    9.6	   CARDINAL	CARDINAL   -2.4
ORG's statistics also show a PERCENT rise in the number of international and domestic passengers carried CARDINAL DATE from CARDINAL DATE. In DATE there was a PERCENT increase to CARDINAL from CARDINAL.
AFTK & FTK unit: CARDINAL ton.km. ORG weight ORG ton.
-  PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017",0
"ORG on DATE will unveil the long-awaiting stripped-down network computer it claims will cost companies PERCENT less to own and operate than a personal computer connected to a network.
PERSON's PERSON initiative, including the ORG network computer that ORG plans to sell for MONEY, is the company's challenge to the PC market dominance of ORG and ORG
The formal unveiling at a GPE news conference is the culmination of DATE of preparation, and the fruition of a strategy that investors consider sufficiently risky to have prompted a sell-off in the company's stock DATE.
ORG and ORG announced plans DATE to develop a competing product.
PERSON, chairman and chief executive of ORG, recently told analysts he believed ORG's recent strong financial results were related to its focus on network computing.
ORG approach to ORG -- in contrast to those of allies ORG and ORG -- is to target major corporate customers for fixed-function applications.
Early applications will include such tasks as airline and hotel reservations, kiosks, health care systems and stock trading, and ORG expects to highlight a CARDINAL corporate allies, including ORG, ORG, ORG, and ORG
Sun also is expected to announce support of top systems integrators, including ORG and ORG, and CARDINAL independent software developers.
The basic ORG itself, which had been code-named ""Mr. PERSON,"" will have the dimensions of an QUANTITY piece of paper, weigh QUANTITY and have no slots, no hard disk, no CD-ROM and no floppy disk drive.
""A fully-configured system, with keyboard mouse and good resolution display will be MONEY,"" said PERSON, president of ORG He said an under-desk machine and a desktop model will be sold.
ORG estimates the machines may cost MONEY per year to own and administer, or $MONEY over DATE, compared with independent estimates of PC costs of MONEY, or $MONEY over DATE.
The FAC family will begins shipping in DATE to developers and large customers, with volume shipments beginning in DATE.
Sun is also shipping the ORG j server line, with prices ranging from a GPE list of $MONEY to MONEY. Servers are computers that link personal computers in a network.
ORG's PERSON unit, which is charged with expanding use of the company's PERSON technology, also will demonstrate PERSON, a method of viewing electronic mail, World Wide Web pages and scheduling software.
Executives declined to say how much PERSON will cost, but added it will be priced similar to other software packages on the market, with volume discounts for large sales.
Separately in GPE, GPE on DATE, the company's ORG unit is due to provide details of its next-generation PERSON system.
These include PERSON, which enables users to create interactive content without writing code, ORG, which speeds up PERSON applications, and ORG, which helps connect PERSON machines to other computer architectures.","ORG President and Chief Executive PERSON said on DATE that by DATE, microprocessors may be capable of holding CARDINAL transistors and delivering CARDINAL instructions per second (ORG).
Grove, delivering the opening keynote address at the personal computer industry's Comdex trade show celebrating the ORDINAL anniversary of the ORDINAL microprocessor, said such advances were possible withing current technological know-how.
Microprocessors are the semiconductors, invented by ORG engineers in DATE, that serve as the brains of PCs.  
ORG said that by DATE, the microprocessors the industry could be producting, given current understanding of the laws of physics, could run at CARDINAL gigahertz, or CARDINAL times the frequency of a microwave oven.
This is CARDINAL times the frequency of the current top-of-the-line microprocessors.
Speeds of 100,000 ORG, a standard measure of computing power, would be CARDINAL times the speed of ORG PRODUCT DATE, a line of refrigerator-size midrange computers popular in DATE.  
In a summary text of his speech issued in advance, ORG said the microprocessor of DATE delivers CARDINAL ORG, running at a frequency of MONEY (Mhz) with CARDINAL transistors. This, he noted, meets or exceeds a DATE projection by ORG engineers of CARDINAL machines at CARDINAL Mhz.
The microprocessor of DATE might fit on a die the size of MONEY, or QUANTITY, CARDINAL times the current QUANTITY die size, the ORG executive added.  
The line width resolution of computer microprocessors, which is critical to the ability to add transistors and power, may -- through projected improvements in photolithographic and process technology -- reach CARDINAL micron, compared to CARDINAL DATE.
But ORG also said the industry must be prepared to meet consumer expectations, including those formed DATE by the medium of television.
""We are in competition for these consumers, for their dollars and their leisure time,"" he said in the summary text. ""That competition is the TV.""
He said TVs outnumber PCs worldwide by CARDINAL.  
""In this war, he who captures the most eyeballs wins,"" he said. ""In our battle for eyeballs, user experience on the PC must not only meet the expectation levels set by TV viewing, it must exceed them.""
Grove provided demonstrations of the concept of visual computing, CARDINAL comparing DATE technology with state-of-the-art technology DATE, and another showing the high-end Pentium Pro Processor at current performance levels and simulating what will be available in DATE.
In his address, ORG demonstrated how ORG uses connected personal computers to enable its chief executive, PERSON, to communicate directly with the company's remote store locations.
""We need to be relentless in our concern and efforts to grow the number of users and uses of our technology as we are in our efforts to develop and build the technology,"" he said.
""Just as we are investing in technology for the long term, we need to target the new users of the future DATE.""",1
"Icy relations with GPE appear to be thawing and GPE has its eyes firmly fixed on overturning its status as an international drug pariah by DATE, diplomats and government officials say.
GPE spent most of DATE smarting at the GPE decision to ""decertify"" it -- strike it off its list of allies in the drug war -- citing lax anti-narcotics laws and President PERSON alleged ties with drug lords. That led to a cut in GPE aid and sparked angry protests by GPE.
But, in an about-turn from his normally hostile stance, GPE Ambassador PERSON had glowing words of praise for the NORP government on DATE.
""We're very impressed by the teamwork demonstrated by the foreign relations, defence and justice ministers (in anti-drug matters). I have now sent my report and that will have to be reviewed and evaluated in GPE,"" he said.
His comments, at a funeral service for a GPE civilian pilot killed on an anti-drug mission in GPE, contrasted with his criticism of anti-drug legislation in GPE's ORG DATE, which caused a political storm.
Now NORP authorities are hoping the appointment of outgoing ORG Minister PERSON as ambassador to GPE, a successful drug crop eradication programme and a new law to strip cocaine kingpins of their assets will convince GPE to recertify GPE.
""We continue showing great political willpower to combat narco-trafficking and contribute to an efficient international struggle. GPE deserves to be recognised and re-evaluated for the fight it has been waging on drugs,"" Col. PERSON, head of the police anti-narcotics division, said.
Esguerra will take up his diplomatic post on DATE and has pledged to ""hammer on all the relevant doors"" in a bid to win back certification and the GPE aid that would entail.
Former Justice Minister PERSON, an anti-drug crusader who survived an assassination attempt ordered by the late drug lord PERSON in DATE, told ORG on DATE he thought it was likely GPE would regain certification in DATE, but he still questioned GPE's commitment to fighting the drug cartels head on.
""The jailed kingpins of the PERSON drug cartel continue running their criminal empires from behind bars and in the short term I don't see the political will or the operational efficiency to be able to launch a frontal assault on drug trafficking,"" PERSON said.
""GPE has been pressured by GPE into toughening its stance but I think PERSON is looking to do just the bare minimum to regain certification,"" he added.
GPE DATE certifies CARDINAL countries based on their cooperation in the international fight against drug production and trafficking. Decertification leads to a cut in most GPE aid not linked to the fight against drugs.
In practical terms, GPE has not suffered greatly from the reduction in aid because most of the GPE financial help it receives is aimed at anti-drug programmes. GPE is due to take delivery of CARDINAL helicopters from GPE DATE, enabling police to step up its drug crop eradication programme, seen as one of the most ambitious in LOC.","CARDINAL of demonstrators thronged GPE's streets on DATE calling for an end to the crime wave that has turned GPE into the kidnap capital of the world.
CARDINAL people have been abducted DATE -- CARDINAL of those by the warring factions in GPE's simmering internal conflict -- according to event organisers.
ORG chief PERSON, who took part in the ORDINAL march of its kind in GPE, saw it as a direct challenge to leftist guerrillas, who fill their war chests with ransoms. Scores of others clutched photos in silent tribute to their loved ones -- kidnapped by criminals.
""When you're abducted, you become like the living dead -- it strips you of your soul. DATE's march is a sign that civil society is saying no to kidnap,"" said PERSON, founder of PERSON, an independent foundation that counsels kidnap victims' families and which organised DATE's march.
Santos, part of the family that runs GPE's leading newspaper, was kidnapped DATE as part of a campaign unleashed by the late drug lord PERSON and his GPE cartel.
In a move timed to coincide with DATE's protest, one of GPE's most-feared right-wing paramilitary leaders released the mothers of CARDINAL guerrilla chieftains in the northwest.
The women were snatched in a wave of retaliatory kidnappings carried out by PERSON paramilitary gang in DATE in a bid to persuade the guerrilla chief to halt its campaign of abductions.
CARDINAL to CARDINAL people took part in the march. Organisers put the figure at twice that.
PERSON, DATE, tearfully watched the march and subsequent rally in the historic FAC square. DATE to the day his DATE daughter PERSON disappeared on her way to school in a working-class district of the capital.
""When your child is kidnapped it is like your own life ends. It's the hardest thing for a parent to suffer,"" PERSON said.
DATE, the country was rocked by the kidnap and murder of DATE schoolboy PERSON in southwest GPE. His corpse was dumped on the doorstep of his family home when his parents failed to pay a $MONEY ransom.
But in a country where even conservative estimates put the number of abductions at DATE, the tragedy of young PERSON, of NORP, was almost forgotten by DATE.
Anti-kidnap czar PERSON was jeered by crowds as he delivered a message from President PERSON pledging to crack down on kidnapping.
The catcalls were preceded by chants of ""Serrano will save the motherland"", in support of the no-nonsense chief of ORG, who heads the fight against kidnapping and drug-trafficking.",1
"ORG defense and space group President PERSON said the company's planned acquisition of ORG defense and space business was on track to close in DATE.
In an interview, PERSON also said he expected the defense and space group to remain ""a significant part of ORG"" with PERCENT of the company's total revenues ""over time.""  
King said he expected federal regulators to complete an antitrust review of the planned ORG deal DATE. The proposal also needs to be approved by ORG shareholders at a meeting set for DATE and should close within DATE after that, he said.
""Something could always happen to the merger to keep it from going through, I suppose, even though it looks like a slam dunk in comparison with some of the other things that have been done in this industry,"" King said.  
DATE defense and space revenues of MONEY were PERCENT of the company's MONEY in revenues, with commercial aircraft sales accounting for the rest.
DATE defense and space revenues are expected to be nearly flat, while overall company revenues rise to MONEY, reflecting growth in commercial jet deliveries, said analyst PERSON of PERSON.
The ORG acquisition will add MONEY in revenue to the defense and space group DATE, and King said the company has no immediate plans for further acquisitions.
""We're looking only to make this one work ORDINAL,"" he said. ""If there's a next step, we'll think about that later.""
King said the defense and space group continues to pursue commercial opportunities, including the NORP program, which he said was on track for initial satellite launch in DATE.
King also said the company and its partner, ORG ORG division, are offering a CARDINAL-passenger civilian version of their PRODUCT tiltrotor aircraft that will be available in DATE.
				 -- GPE bureau CARDINAL-386-4848","ORG DATE said it agreed to plead guilty to CARDINAL counts of federal charges of price fixing in the sale of agricultural products and to pay record fines totalling MONEY.
Under the agreement, which is subject to court approval, ORG will pay MONEY to settle a charge of fixing prices for lysine, a feed additive for livestock, and MONEY in connection with citric acid, a food and beverage additive.
While the MONEY in fines were the largest ever in a criminal antitrust action, they will have only a minimal financial impact on the GPE, Ill.-based agricultural products giant.
""This is not going to affect their balance sheet in any meaningful way,"" said ORG analyst PERSON.
ORG has MONEY in cash and short-term securities on hand and another MONEY in long-term securities it could sell if it needed to, analysts said.
But the settlement left unclear the fate of CARDINAL top ORG executives who had been expected to face indictments in the government's DATE investigation of price-fixing for the food additives.
In a statement, ORG did not mention Vice Chairman PERSON or PERSON, a group vice president in charge of corn refining. The additives are derived from corn.
ORG had said in a proxy statement that indictments in the lysine probe were being considered against ORG and PERSON, the son of ORG Chairman PERSON.
""That's intriguing, that there is no mention (of) the individuals,"" said antitrust attorney PERSON, a partner in the GPE office of GPE, Day, ORGamp; GPE who is not involved in the ORG antitrust case.
Sims called the wording of ORG's statement ""ambiguous.""
A government source said ORG antitrust investigation was ""ongoing."" Department officials declined to comment.
ADM did not return a phone call requesting comment on the status of possible indictments against the executives.
In its statement, ORG said the agreement brought an end to the government probe into ""alleged misconduct"" by the company, including its practices in the market for high-fructose corn syrup, a widely used sweetener that is one of ORG's most important products.
Analysts said the high-fructose corn syrup case could have been the biggest potential liabilty for ORG, given the size of that market. ORG previously settled civil cases brought by its customers and agreed to pay MONEY in the lysine case and MONEY to buyers of its citric acid.
A civil case brought by high-fructose corn syrup customers is pending.
""The important news here is just that the criminal investigation is behind them,"" said PERSON, an analyst at FAC, a GPE-based brokerage.
Investors reacted positively to the settlement and sent ORG shares up MONEY to $MONEY on ORG, a DATE high.
The federal probe of alleged price-fixing in the food and feed additive markets was ORDINAL disclosed by ORG in DATE. At that time, ORG said it was subpoenaed for documents and testimony as part of a probe of the lysine, citric acid and high-fructose corn syrup markets.
A former ORG executive, PERSON, acted as a government informant for DATE in the investigation. PERSON, who was president of ORG's ORG, was fired in DATE when the company accused him of stealing MONEY.
PERSON has denied those charges and has said he plans to file a wrongful dismissal lawsuit against ORG.
ORG said the plea agreement resulted from negotiations between ORG officials and a special committee of CARDINAL independent board members.
ORG said the special committee was created in DATE to respond to the department's investigation into ORG's alleged anti-competitive activity and related civil litigation.
Analysts also said the fate of PERSON was not expected to impact the succession at ORG. ""That issue was settled a long time ago. PERSON is not a successor,"" said PERSON at ORG, a GPE-based brokerage, referring to PERSON.
In an interview in DATE, PERSON said he believed there were CARDINAL people who might succeed him DATE, including his son. But he said at the time there was no succession plan at the company. ORG's proxy statement lists PERSON age at DATE.",0
"To hear ORG tell the story, it is a classic drama of a poor, brave underdog challenging a greedy, monopolising giant.
But the studio, CARDINAL of the oldest and biggest film-making operations in GPE, says it is gaining ground in its cinema chain war against the main movie distributor in GPE, the NORP chain.
The studio boss, PERSON, said he created his own chain of cinemas DATE after PERSON refused a re-division of box offices receipts.
""I didn't want to do it but we had no choice, the GPE movie market is becoming more and more important,"" he said in an interview.
ORG has made only paper-thin profits in DATE largely due, PERSON says, to the unreasonably high demands of PERSON and other film distributors around GPE.
With cinema attendance well below half what it was in DATE before GPE's DATE television revolution, revenue has plummeted and costs have exploded.
What's a film studio boss to do but try to shave the distributor's box office share?
PERSON says he originally went to Yongle to ask for a re-division of profits, which used to be PERCENT for GPE, PERCENT for the film studio and PERCENT for the cinema operators.
His final offer was a straight split: PERCENT for PERSON, and PERCENT for the film studio. PERSON refused, he said.
""I said to them: we spend the money to make the movies, we take all the investment risk, while you do nothing. You make profits on the basis of almost no costs. But they wouldn't do it,"" he said.
So Zhu went off and set up his own cinema chain instead.
PERSON's story is slightly different.
A spokeswoman said the ORG cinema chain was set up as part of a national process of diversifying ownership of cinemas and distribution. She said PERSON currently received PERCENT of box office receipts.
GPE now has a total of CARDINAL movie screens, ranging from some of the world's classiest picture houses dating from the golden age of cinema, to down-at-heel workers' clubs which put on movies TIME in their main hall.
Yongle controls all of the top cinemas, including the magnificent Daguangming movie house on FAC, a major shopping and entertainment thoroughfare for DATE.
PERSON's rival chain, called Dongfang (Orient), controls CARDINAL screens which tend to be more basic and local, cinemagoers say.
""It took a lot of effort, a lot of negotiating with each cinema operator, the whole process took DATE,"" said PERSON.
He said he only managed to prise many of the cinema operators away from Yongle by guaranteeing them a minimum level of income.
""Box office receipts for all of them are up since we took over their distribution, PERCENT, some up PERCENT,"" he said. ""The CARDINAL cinemas used to account for PERCENT of GPE's box office receipts, but it's gone PERCENT.""
PERSON has been fighting back over DATE with the release of a series of blockbuster GPE epics, including most recently ""Twister"" and WORK_OF_ART"", which have proved very popular.
PERSON declined to say how many movies the studio would produce DATE, and a member of his staff later only said it would be CARDINAL, far below production levels of DATE.
But PERSON did say he was looking to diversify the studio's finances away from movies into a wide range of other activities including hotels, real estate, television production, advertising and a steel tube factory.
He said his aim was to make films responsible for PERCENT of the film studio's total profits by DATE.
""We can't make money out of films the way things are,"" he said.","NORP yachtsman PERSON survival for DATE in the icy LOC owes much to the high-tech safety equipment available to the modern sailor.
This DATE's FAC was crammed with gadgets such as ORG (EPIRB). It costs MONEY ($MONEY) but proved its worth by showing ORG's NORP rescuers where to look for him.
Bullimore's ordeal in the upturned hull of his yacht after it capsized in a solo round-the-world race is a far cry from the ""LOC marina"" which was the centrepiece of this DATE's boat show at ORG in west GPE.
Huge ""Gin Palaces"" abound but the show's organisers were keen to stress ""messing about in boats"" is not only for the rich.
The smallest vessel on show, the aptly-named ORG, was QUANTITY (QUANTITY) long and costs QUANTITY.
Around 800 boats were on display, CARDINAL of them bobbing gently up and down in a giant indoor marina, built specially for the show, an DATE event.
The CARDINAL visitors had to wear slippers over their shoes to protect the polished decks if they wanted to go on board.
The NORP boating sector has a turnover of MONEY and the boats on show were not just for dreaming about. Orders totalling MONEY were placed in DATE of the show, which ended on DATE.
TRADITIONAL VERSUS HIGH-TECH EQUIPMENT
The halls were full of the paraphernalia of boating, with stands displaying traditional brass clocks and barometers competing with the latest in high-tech satellite navigation equipment.
If the latest in pump-action lavatories, the smoothest automatic winches or a machine that turns sea-water into drinking water is what you are after, this was the place to be.
Some firms demonstrated state-of-the-art sail materials, whose development owes much to the space programme. Others showed how traditional wooden ""clinker"" boat-building still has a place in DATE.
The sunnier side of pleasure cruising was to the fore, but, topically, there were also tales of disaster and endeavour.
Among the speakers were a couple who DATE spent DATE drifting in the LOC in a tiny inflatable life-raft.
Motor boats such as the sleek Sunseekers, the latest model of which, the Predator, sells for MONEY, dominate CARDINAL area, but most of the floorspace was dedicated to sailing.
SAILING REFLECTS BRITISH APPROACH TO THE SEA
This, says PERSON, executive chairman of ORG, is in keeping with the NORP approach to the sea and reflects recent Olympic successes.
""Britons have always been more sail-oriented than power, maybe it is something to do with the climate...but we seem to have a stronger sailboat past,"" he told ORG.
PERSON, who with PERSON won a silver medal at FAC in the CARDINAL dinghy class, says boats need to keep evolving if sailing is to compete with other sports, even if this means his class is dropped after the DATE games.
""It's harder to draw people into the sport with new outdoor activities competing against it,"" he said. ""We need new, fast, exciting and colourful classes.""
Many visitors made a beeline for the CARDINAL-er, recently selected as a new Olympic class and CARDINAL of a new breed of ""skiffs"" --lightning-quick sailing dinghies which appear to fly across the water with both helmsman and crew suspended from trapezes.
They may cost QUANTITY, but PERSON of LDC Racing Sailboats which produces the space-age looking dinghy says fitness, skill and the agility of crews are what counts.
""The major thing about the boat is it brings the true spirit of the EVENT. It is going to spawn a new era in sailing."" (MONEY)",0
"GPE future leader PERSON said on DATE the GPE-approved body set up to replace the existing elected legislature in DATE would soon hold its ORDINAL sitting -- not in GPE, but in GPE.
Tung was speaking after his ORDINAL informal meeting with the post-colonial deputies who will take up lawmaking in GPE after GPE hands back the territory at DATE.
The new chamber will soon hold its ORDINAL official session most likely across the border in the southern NORP city of GPE, GPE told reporters.
""The provisional legislature must meet for the ORDINAL time. It'll probably be in GPE. It would be very soon,"" he said.
""We also discussed very unofficially the tasks ahead for the provisional legislature,"" Tung said.
The CARDINAL-member chamber was selected DATE by a CARDINAL-strong selection committee comprised of GPE people vetted by GPE.
The same panel earlier chose PERSON to run the territory after colonial Governor PERSON departs in DATE time.
The provisional legislature is stiffly opposed by GPE ORG, which emerged from DATE elections for the present ORG with the most votes of any party but will lose its seats DATE.
The party calls the provisional body a travesty of democracy that will be illegal if it functions before the change of flag. Their threats of legal action have forced the body to meet in GPE.
The colonial government has agreed to cooperate with Tung on issues regarding the transfer of sovereignty but not with the provisional legislature.
On DATE Tung who has promised to respect the neutrality of GPE CARDINAL civil servants, urged them to face the reality of the provisional legislature.
""The political neutrality of the civil service is very important, we must respect that. But after DATE, the provisional legislature will work with the civil service. That's a reality.""
Many in GPE are worried that stable government and the rule of law will evaporate when communist-ruled GPE takes back the capitalist territory of CARDINAL people.
On WORK_OF_ART persuaded GPE top civil servant, Chief Secretary PERSON, to stay in her post after the handover. But he has yet to decide the fate of other top officials.
In CARDINAL of the ORDINAL signs of cracks in the top echelon of officials, chief graft-buster PERSON, head of ORG, DATE announced he would not serve beyond the handover.
Tung, who met PERSON on DATE, said he failed to persuade PERSON to change his mind. ""It is a real pity. I wish he would stay...but he explained that it was for personal reasons he was leaving,"" he said.","GPE is singing the praises of paramount leader PERSON in a primetime television series but the paean to the ageing patriarch is getting mixed reviews from the man in the street.
GPE residents viewed the ORDINAL few episodes of the CARDINAL-part documentary on the DATE leader with a mixture of adulation, scepticism and indifference.
""I think it's great. I've seen all of the episodes so far and I'm going to watch the rest, too,"" said a DATE journalist on DATE.
""PERSON should be honoured for GPE's economic development,"" he told ORG. ""The show is just great.""
PERSON, whose pragmatic policies helped transform GPE from a backward NORP state into an economic powerhouse, has not been seen in public in DATE. In his last appearance he looked frail and faltering.
Speculation abounds about his health, ranging from rumours he was admitted to hospital in DATE to reports he remains at home with little change in health but with fading lucidity.
But he has been lionised in the television series.
Analysts have said the documentary would help define PERSON's legacy to the current party leadership and set the tone for a crucial ORG congress due DATE.
DATE's episode dealt with the period just after the DATE NORP revolution and strove to show how PERSON began forming his market-oriented economic policies.
While the television series has so far avoided measuring PERSON's more open policies against the disastrous radicalism of revolutionary leader PERSON, the contrast was not lost on some viewers.
""PERSON liberated the country but he made mistakes like EVENT,"" said the journalist in a reference to DATE of ultra-leftism that PERSON inspired in DATE.
Some viewers said the programme was carefully crafted by GPE's propaganda tsars and may not have given the whole story.
""Of course they have to censor a few things,"" said CARDINAL DATE musician who declined to be identified.
The series has not mentioned PERSON's ORDINAL wife who left him for another NORP official in DATE when he fell from political grace for the ORDINAL of CARDINAL times in his long career.
But many people said they had not watched any of the episodes, while others who saw it were less than enthusiastic.
""I saw some of it but there were too many commercials,"" said a middle-aged woman who was selling peanuts and sunflower seeds at a roadside market.
A soldier who was sweeping snow from a GPE street, asked for his thoughts on the man responsible for GPE's opening up to the outside world, said; ""I don't know anything about that. And why do you ask?""",0
"The recent NORP tour by GPE fund managers representing MONEY in assets, including the hefty ORG (CalPERS), has whetted GPE fund managers' appetites.
""CalPERS has this innate ability of raising everybody's blood pressure because they've got so much money to invest. PERCENT and you double your assets under management,"" said PERSON, sales director for ORG.
But it appears GPE fund managers might be waiting in vain for a slice of the CalPERS pie.
While expressing a desire to raise their NORP and international weightings, GPE pension funds clearly stated a preference for direct investment over listed equity.
""The amount of transparency that we would expect with the companies is not available at this point,"" CalPERS board president PERSON said of NORP public companies.
His statement highlighted a significant problem for GPE money managers seeking increased exposure to LOC.
Foreign access to NORP markets is usually restricted, partly because many countries fear the sort of economic disruption that widened current account deficits after the last wall of foreign money came marching into the region in DATE.
GPE fund managers, pointing to research indicating superior NORP performance by funds managed from within the region rather than from outside, said CARDINAL option that could meet everybody's needs is private equity funds.
The performance of these funds is private but believed to far exceed that of public mutual funds.
PERSON, deputy managing director of ORG, said his funds hold MONEY, virtually all of it contributed by GPE pension funds and invested in small companies expected to list within DATE.
""Over the long term you're likely to get a superior investment performance,"" ORG said. ""There's a discount for not being able to trade the stock.""
PERSON, managing director of ORG (Asia) Ltd, declined to reveal the performance of his funds except to describe it as ""tremendous"".
ORG is the biggest private equity group active in LOC, with MONEY under management -- nearly all of it rumoured to be contributed by CARDINAL or CARDINAL very big GPE pension clients.
GPE said ORG's policy is always to hire Western-educated nationals who know the culture and the players in the indigenous business community. Established in GPE in DATE, ORG also has long-term relationships with many NORP corporations.
""When these (NORP corporations) decide they want to expand and invite investors outside family and close friends, we are naturals to be invited because (they) already know us,"" PERSON said. ""CalPERS wouldn't have the kind of relationship.""
But there are disadvantages to private equity funds, the most obvious being their closed-end and long-term nature.
""CARDINAL of the key issues about investment is to have your money back when you're ready to have it back, not when those in whom you are investing want you to have it back,"" said ORG, who candidly admits ORG wants to manage CalPERS money.
Another fund manager warned that while many venture capital funds do very well, others do not.
""The risk is higher. You don't have an out. The trick is in knowing how to say no,"" he said. ""If you haven't picked the right companies, how do you get out?""","Protesters hit GPE streets on DATE, paralyzing rush-hour subway trains and closing businesses in GPE's biggest city to protest deep budget cuts by GPE's Conservative government.
Underground subway and bus service ground to a halt in this city of CARDINAL people, forcing CARDINAL commuters to walk, drive or cycle to work or stay home.
""They're picketing all over the place, so we've postponed service,"" PERSON, a spokesperson for ORG said in a telephone interview.
Unionized workers, civil servants and social activists also descended on government offices and factories on DATE of the so-called ""WORK_OF_ART.""
But picketers failed to disrupt commuter trains from GPE's bedroom communities or interrupt service at FAC, the country's busiest airport.
ORG had expected protesters to disrupt trading, but GPE's biggest stock market opened as usual.
CARDINAL brokerage firm flew traders to its GPE office to work DATE, while other brokers slept in hotel rooms or in their offices TIME.
The stock exchange has been targeted for a major rally TIME.
The protesters are furious with Premier PERSON' plans to cut spending by MONEY (MONEY) to wipe out a huge deficit by DATE.
Since sweeping to power in DATE promising a right-wing revolution in GPE's most populous province, the NORP have revamped labor laws, slashed welfare payments, introduced workfare and announced plans to close hospitals and trim education budgets.
""These cuts that PERSON made are hurting the workers. This is part of the polarization that is happening in GPE. The anger is going to grow and grow,"" PERSON, president of the GPE division of ORG, told picketers outside a government building.
But PERSON, who has been dubbed ""Newt of the LOC"" in reference to NORP ORG Speaker PERSON, has vowed the protests will not stall his ""Common Sense Revolution.""
Despite the opposition to his government, the NORP' popularity continues to hold PERCENT in opinion polls.
Protesters waved placards and temporarily blocked cars from entering government parking lots, but GPE police said there were no major incidents of violence.
CARDINAL man was charged with a weapons offence after allegedly threatening pickets with a baseball bat outside a bus garage. There also were skirmishes outside a postal station.
Many commuters took the delays in stride.
""I see the protesters have a point, but I think it's going to inconvenience a lot of people who don't have any other choice,"" said PERSON.
Meanwhile, several major manufacturers canceled day shifts. ORG, a unit of transportation firm  ORG, said CARDINAL employees at its GPE aircraft plant will be off the job DATE.
The protest will not affect ORG NORP unit, which is getting back to work after a nearly DATE strike ended DATE.",0
"GPE is firming up a shortlist of foreign banks that will be allowed to do local renminbi currency business, foreign bankers said on DATE.
ORG, ORG and ORG-Mitsubishi are expected to be among the winners, they said.
Foreign banks with branches in GPE, currently restricted to doing business in foreign exchange, have been promised that a handful will be given the right to take deposits and make loans in the NORP currency before DATE.
""ORG, ORG and ORG are in, the NORP have made that clear,"" said CARDINAL banker. ""There may also be a NORP bank and a GPE-based bank added as well, but they may not. They are being very cautious.""
""The decision will be made as always on a geopolitical basis -- CARDINAL from GPE, CARDINAL from GPE, CARDINAL from LOC,"" said a GPE-based NORP banker.
Officials from ORG and ORG declined to comment on their chances and ORG executives were not available.
But other bankers said there were still conflicting reports as to when the announcement would be made.
""It has to happen soon,"" said a GPE-based banker. ""We've waited far too long. We're all tired and bored with the waiting.""
Once the announcement has been made, foreign bankers said they expected it to offer only very limited renminbi business rights, restricted to taking in money from, and lending money to, foreign-funded enterprises in GPE.
""The funding problem is the key one,"" said a foreign banker. ""Foreign-funded firms wouldn't generally want to put their renminbi on deposit with a bank, it's their working capital. If they did, it would be an act of charity (towards the banks).""
The foreign banks will definitely not be allowed in the foreseeable future to take in deposits from NORP firms or individuals, bankers said.
The answer may be that ORG, the central bank, will lend renminbi funds to the foreign banks to lend on to customers, thereby giving the central bank power to control the extent of the business, they said.
Once the ORDINAL batch of banks have begun to do limited renminbi business, it could be as much as a year before any other foreign banks are allowed to join them, bankers said.
""They are being very careful; this will be an experiment that they will watch very closely before taking another step forward,"" said CARDINAL banker.","ORG chairman PERSON said on DATE that the MONEY stock-swap acqusition of ORG would help fund ORG ambitious broadcasting plans.
""We have a long agenda and this helps certainly in developing the stations. We will get there quicker by combining the CARDINAL companies,"" PERSON told ORG in a telephone interview.
ORG agreed earlier to acquire ORG, a limping number CARDINAL in GPE TV retailing, for MONEY in stock.  
The deal reunites ORG, owner of CARDINAL GPE television stations spun off in DATE by ORG, with its old parent and feeds speculation that ORG is close to launching a ORDINAL GPE television network.
Diller described as premature the speculation he would start a new national network, but said the cash flow from HSN would help PERSON pay for programming and other costs in developing its stations.  
Diller, a celebrated GPE executive credited with leading the DATE launch of the ORG network, had already announced plans to drop ORG programming now carried on ORG stations in order to replace it with a traditional mix of locally oriented news, sports and other shows.
The stations in major markets such as GPE, GPE and GPE could attract significant audiences eagerly sought by advertisers, become much more valuable and form the nucleus of a national television network, industry analysts said.
""WORK_OF_ART will use PERSON cash flow. That will be the start of the benefits,"" ORG said.
""For PERSON, it adds businesses it is not now in,"" he said, adding the combined companies would be financially vigorous and poised to exploit new forms of electronic retailing.
""I am thrilled with the combination,"" ORG said.
""As to its more expansive possibilities, I believe the combination will allow the companies the very best way to pursue their very aggressive individual agendas with clarity and without conflict.""
-- New York Newsdesk 212-859-1713.",0
"NORP state-owned airline ORG said on DATE it was ready to take on the toughening competition in its domestic market posed by ORG (BA).
ORG's ORG NORP unit on DATE announced a joint MONEY bid (MONEY) with bank PERSON for domestic carrier ORG that will double its share of takeoff and landing slots at GPE' busy ORDINAL airport PERCENT.
An ORG spokeswoman acknowledged ORG's increased presence in GPE aviation would have an impact.
""It certainly has consequences for us. But we will continue with improving our product and service while cutting our costs and prices,"" she said.
After approval by the Creteil commercial court, scheduled to meet on DATE, and an ORG creditors meeting due within DATE, ORG would take a PERCENT stake in loss-making ORG.
A spokesman for ORG, the domestic wing of the ORG operation, said the company had an PERCENT market stake on the routes it operates and PERCENT on the total NORP market.
But from DATE, NORP liberalisation of the airline industry will fully throw open NORP airspace to competition.
The NORP government moved the door ajar at DATE by allowing competition on the busy ORG and ORG routes which were controlled by state-owned ORG, part of the ORG group.
Other NORP airlines had been allowed to fly less busy domestic routes as well as NORP and international routes.
ORG bought its first PERCENT stake in ORG in DATE and obtained the remainder DATE.
ORG, ORG and ORG have all tried to carve out market share ahead of liberalisation with a price war against ORG, the renamed ORG. As a result they have suffered financially.
ORG, headed by PERSON, had been in talks with ORG with an eye to a merger but the worsening financial situation at ORG, which sought creditor protection on DATE, made a deal impossible.
ORG, PERCENT owned by ORG (CDR) which was set up to sell assets of bank ORG, is now going it alone with PERCENT of the slot at Orly.
But industry sources said ORG could strike back in DATE and make a bid for ORG to prevent another foreign airline from setting foot in GPE alongside ORG.
ORG plans to launch its ""Shuttle"" service between GPE and Toulouse DATE, offering more departure times and a ""turn up and go"" service without reservations, as a major plank in its new commercial approach.
Other airlines in GPE are ORG, owned by the PERSON family, the PERSON family's PRODUCT airlines, ORG ORG as well as ORG.
For ORG, these domestic lines are important potential feeder operations for its international operations.
DATE Air france signed cooperation pacts with ORG and ORG of the GPE and it aims to sign a similar deal with an NORP airline in DATE.
These pacts are based on the ""hub and spoke"" theory in which airlines boost traffic by taking passengers from a smaller airport to a big ""hub"" for long distance flights to another hub. From the ORDINAL hub another smaller plane can be used to take the passenger to the final destination. ($MONEY NORP Franc)","NORP officials have called for a war on AIDS, warning that the nation is in danger of losing its last chance to slow the invasion and spread of the disease, state media said on DATE.
Time was running out to strengthen safeguards against AIDS spreading rapidly through the populations of GPE's neighbours, minister of ORG PERSON told a national meeting on AIDS in GPE.
""From now until DATE is a crucial time for our nation to prevent the spread of AIDS,"" the official ORG quoted PERSON as saying.
""If we do not pay close attention to prevention, the AIDS infection will increase geometrically,"" she said.
The spread of drug abuse, prostitution and illegal blood supplies could combine with a drastic increase in sexual disease to speed the AIDS epidemic in GPE, ORG Minister PERSON told the conference, which closed on DATE.
Many NORP still knew little about AIDS or ORG) that causes it, PERSON said.
""Now is the prime time for prevention and control of HIV infection,"" the ORG quoted him as saying. ""It could be the last chance. We have no time to waste.""
GPE's official total for the number of people infected with HIV had hit CARDINAL, up from CARDINAL at DATE, and CARDINAL had developed AIDS, ORG newspaper said.
Officials say CARDINAL of cases go uncounted, and quote experts as estimating the actual number of HIV infections at CARDINAL.
GPE has blamed much of the rapid spread of AIDS (Acquired Immune Deficiency Syndrome) in DATE on infection via drug addicts in southwestern provinces close to the ""Golden Triangle"" opium and heroin production area that includes parts of GPE, GPE and Burma.
""Serious HIV/AIDS epidemics in neighbouring countries may have an impact on the domestic HIV epidemic,"" said Health Minister PERSON. ""A large number of migrants provide the opportunity for the spread of HIV infection.""
NORP health departments would continue to crack down on illegal blood banks to try to ensure the safety of blood transfusions, and would join with educational organisations and the media to spread knowledge of AIDS, ORG said.
Law enforcement agencies would clamp down on drug abuse and prostitution to try to cut HIV transmission through contaminated needles and sexual contact, it said.
Prostitution and narcotics abuse have both boomed in DATE as DATE of economic reform weaken GPE's once-strict social controls.
Officials expect a campaign launched by GPE's communist leaders to promote puritan NORP values to help cut infection caused by unsafe sex and drug use, but a GPE AIDS activist said it was still unclear if the effort would really help.
Authorities should put more emphasis on education and health support for high-risk groups instead of relying on official disaproval and the police to curb their activities, activist PERSON said in a telephone interview.
GPE had largely failed to reach out to groups such as sex workers, drug addicts and homosexuals, many of whom still considered AIDS a foreigners' affliction, he said.
""There is not much public understanding (of AIDS)...the work done on the social side has been very weak,"" he said. ""There needs to be a change in thinking.""",0
"Copper stored in GPE warehouses -- the murky ownership of which has cast a pall of concern over the world market -- is being offered in small lots to NORP trading houses, industry sources said on DATE.
The copper is been offered for sale at a high premium in order to set a benchmark price for its eventual sale to GPE's strategic stockpile, CARDINAL NORP trader said.
Traders said that estimates of copper reserves brought into GPE in DATE range QUANTITY. A NORP trader in GPE said he had been offered copper by ORG (ORG) at around $MONEY a tonne -- a level reflecting ORG (ORG) cash price plus a premium of $MONEY.
ORG has declined to comment on the market talk.
The copper was said to be owned by NORP trading firms which had shipped it to GPE in the expectation that the central stockpile would buy this amount to square its position on metal previously lent to the market, before DATE. ""They are hoping that it is the right tonnage in the right place, but as far as we know, the stockpile has so far not confirmed they will buy it,"" a NORP trader with a state-owned NORP firm, said.
Traders said DATE the copper probably belonged to GPE's state reserve, which lent QUANTITY of copper, through ORG, onto the ORG DATE.
In DATE, ORG's former president PERSON said GPE was likely to take it back in DATE.
But when copper began to move back to GPE in DATE, from ORG warehouses in GPE, GPE and GPE, GPE traders assumed the central reserve was taking the copper back earlier than planned.
Not so, said the NORP trader, though he added: ""Who owns it is anyone's guess.""
The metal was taken from ORG warehouses at MONEY a tonne, a GPE trader said, with the price set before DATE ORG copper prices slid below $MONEY on news in DATE of MONEY in copper trading losses by GPE's ORG
DATE copper was indicated at $MONEY a tonne in late ORG trade on DATE.
""It (the copper) has been sitting there for DATE, so someone has to pick up the loss,"" a trader said.
""Whether the stockpile takes this tonnage from this owner, or if they buy it themselves and arrange another shipment themselves, is up to them,"" the NORP trader said.
""But it depends on the price. If they (the stockpile) can get a premium lower than $MONEY, maybe they will take it. They won't pay $MONEY, or $MONEY, especially on this sort of tonnage.""
A trader in GPE said ORG would ""dearly love someone to take the whole lot, but that is unrealistic"".
But the NORP source said: ""This copper can only be taken by the stockpile"" because no other buyer could afford it.
GPE levies a PERCENT import duty and a PERCENT value-added tax on copper imports, which traders said made it prohibitively expensive.
Freight, warehousing and other costs would put the GPE copper in the same cost bracket as copper shipped to the region from ORG warehouses in LOC or the LOC if the premiums being asked were paid, traders said.
Other traders, in LOC and in LOC, have told ORG that ORG had offered them copper in a series of secret meetings held in major NORP cities since DATE.
QUANTITY was said by traders in GPE to have been shipped already to warehouses near the northern port of GPE, where the strategic stockpile has some warehouses. This has not been confirmed.
QUANTITY of copper was stored in ORG warehouses in the eastern port city, and the remainder of the metal was in other GPE stores, traders said.
""The whole market is still being manipulated by somebody,"" a NORP source said. ""The game is not over.""","NORP police said on DATE they discovered a ORDINAL MONEY drug stash aboard a yacht owned by CARDINAL Britons being held on cocaine smuggling charges stemming from a bust on the yacht in DATE.
The CARDINAL men PERSON, DATE, of GPE, PERSON, his son PERSON, DATE, of Ashford, Kent, and PERSON, DATE, of GPE, GPE, were arrested on DATE in the LOC coast port of ORG and were being held on cocaine smuggling charges.
At the time, officials of the state security force ORG discovered QUANTITY (QUANTITY) of highly pure cocaine aboard their U.S.-registered boat PERSON (Sea Pearl). In a more exhaustive search, conducted over DATE, police turned up another 326 pounds (QUANTITY) of cocaine -- stowed away in the vessel's waste water tanks.
A ORG chief estimated the street value of the ORDINAL haul at MONEY. Police declined on DATE to speculate on the overall value of the illicit consignment.
""The drugs were coated with a mixture of burned oil and coffee, which masks the smell and makes it more difficult for sniffer dogs to detect,"" a ORG police spokesman said.
The Britons were being held in custody in ORG's ORG jail. They could not be contacted on DATE.
In a phone conversation in DATE, PERSON told ORG the situation had been a ""huge mix-up"" and hoped everything would be ""straightened out soon.""
ORG officials said PERSON, whose passport was issued by ORG in GPE, and his son had entered GPE illegally from GPE. ORG GPE legally -- his passport had been issued by ORG in GPE.
A spokeswoman for the regional prosecutor's office said the men could face CARDINAL behind bars if convicted of the smuggling charges.
NORP laws on drug trafficking are frequently seen as lax compared to standards in GPE and GPE.
The country's cocaine kings GPE and PERSON, heads of the once-mighty PERSON drug cartel were sentenced DATE.
The brothers admitted running a vast international criminal empire for DATE and arranging the shipment of QUANTITY of cocaine into GPE -- thought to be just a fraction of the real amount they sent. They received jail terms that could in practice let them walk free in DATE.",0
"Shares in NORP waste and transportation firm ORG soared on DATE as investors and analysts applauded major moves in ambulance services and waste management worth MONEY.
While ORG's stock hit new heights on ORG, chief executive officer PERSON said the company is poised for strong growth with CARDINAL huge deals announced after the market closed on DATE.
In a bid to become LOC top ambulance operator, ORG plans to acquire GPE-based ORG in a MONEY cash deal and merge it with its GPE-based ORG ambulance services unit.
In the other transaction, ORG has signed a letter of intent to sell its GPE-based ORG unit for MONEY in cash, shares and debt to ORG of GPE.
Laidlaw will own PERCENT of a new combined company, ORG, which will be the dominant player in NORP hazardous waste management.
The moves came DATE after GPE, GPE-based ORG completed the MONEY sale of its solid waste management business to ORG of GPE.
ORG's class B stock closed up C$MONEY ($MONEY) at a DATE high of C$MONEY ($MONEY) in heavy turnover of CARDINAL shares on ORG.
Laidlaw's class A stock improved C$MONEY ($MONEY) to a new high of C$MONEY ($MONEY).
""We've got a (share price) target level of MONEY ($MONEY) and C$MONEY ($MONEY) for DATE and it will probably go higher when the dust settles,"" said PERSON, an investment advisor with ORG.
ORG jumped CARDINAL to close at CARDINAL on the GPE exchange, while ORG added CARDINAL at CARDINAL.
Analysts said the Rollins deal will further consolidate a fragmented industry and may improve hazardous waste prices which have been depressed in DATE.
The ORG acquisition will also boost ORG's presence in the fast-growing healthcare transportation area.
""Strategically it is quite wise,"" Bunting ORG analyst PERSON said in a telephone interview.
""The highest growth potential is with their transportation companies. They are also able to partially spinoff the hazardous waste operations and also allow that company to regain a profile by listing on ORG,"" PERSON said.
In a note to clients, ORG analyst PERSON said the $MONEY a share offer for ORG is fair and he recommended investors tender their shares.
With combined DATE revenues of MONEY, the new ORG will hold a PERCENT share of the MONEY ambulance industry. It also gives ORG access to related medical transport services which are a MONEY market.
Bullock said ORG will immediately boost ORG's earnings, but he declined to give a specific forecast.
Larkin bumped his profit forecast for Laidlaw in the DATE to $MONEY a share from $MONEY per share. He also revised his DATE forecast MONEY per share from the low eighties.
Some analysts raised concerns that anti-trust issues may hamper the ORG deal, but ORG said he does not foresee any problems with regulators.
The transaction with ORG will be neutral to ORG's earnings in the near term while operations are consolidated.
ORG said staff levels may be reduced by CARDINAL and CARDINAL facilities may be closed, leaving CARDINAL facilities in the merged firm. The integration will yield more efficient operations and savings of MONEY DATE.","Shareholders in NORP conglomerate PERSON DATE overwhelmingly approved the final part of the group's ambitious CARDINAL-way split-up.
The approval clears the way for its ORG division to be spun off on DATE. PERCENT of shareholders voted for the plan.
The vote ended an era that saw ORG, under takeover king Lord PERSON and his late partner Lord PERSON, become a star performer in DATE as it grew into one of GPE's largest conglomerates.
But with a stock market that showed its mistrust of conglomerates by sharply marking down their shares, ORG DATE announced that it would tear itself up into separate tobacco, chemicals, energy and building companies.
Energy has CARDINAL main parts, PERSON, the world's largest private coal producer, and ORG, GPE's ORDINAL-largest electricity generator and distribution business.
Analysts said the company has good growth prospects but is difficult to value because of its diversity.
""I genuinely think if there is a chance of growth this is it, but valuing Energy is difficult because it is a very different animal from other utility stocks,"" said CARDINAL analyst who asked not to be named.
PERSON, an analyst at PERSON, said he forecasts earnings growth of PERCENT DATE over DATE.
Analysts said the potential for using electricity expertise to help PERSON expand in this area in GPE could help ORG's growth.
""Peabody could be the most interesting. It's a clear chance to expand into electricity in the GPE,"" one said.
Energy has already said it is mulling a string of acquisitions in GPE and LOC and has started talks with a GPE power marketing company.
The company will join a NORP electricity sector that has been whittled down by take-overs over DATE as regional electric companies were bought, leaving just CARDINAL out of an original CARDINAL created at privatissation in DATE.
There has been some speculation PERSON could be spun off from the NORP electricity interests, but on DATE, ORG chairman Lord ORG ruled this out.
""No, I have had enough of demergers (split-ups) and I think (the CARDINAL) fit very well together,"" he replied to a shareholder question.
The group, which is expected to start with market value of MONEY (MONEY) and is being sold with MONEY of debt (MONEY), will be large enough to rank among GPE's biggest blue-chip companies and GPE's WORK_OF_ART. Shares of the company will be listed in GPE and GPE.
The split-up will give shareholders CARDINAL Energy share for every CARDINAL existing ORG shares held. CARDINAL shares in the remaining ORG group will be consolidated into CARDINAL new share at the same time.
ORG's ORDINAL CARDINAL split-ups, of GPE's ORG and U.S.-listed ORG, took place DATE.",0
"GPE's LOC, due for flotation in the DATE, on DATE reported pretax profits of MONEY (MONEY) for DATE, up PERCENT from CARDINAL DATE.
The home loan provider said it would publish its transfer document giving details of the flotation and a preliminary valuation in DATE. Members will meet to vote on plans to convert the institution into a bank in DATE.
GPE, based in the north-east of GPE and fiercely independent, said its profit figures excluded a non-recurring cost of MONEY related to the conversion to bank status.
Uniquely, the society has said it will create a foundation to which it will covenant PERCENT of its DATE pre-tax profits after flotation. The money will go to worthy causes, mostly local communities in its area of operation.
ORG director PERSON declined to speculate on the value in shares each member would receive from the flotation. Predictions range CARDINAL and QUANTITY, valuing the floated company at MONEY.
PERSON highlighted the fact that business had continued to perform well during the conversion process which he described as ""onerous"".
""As CARDINAL of the most cost-efficient lenders, it's important for us to improve those efficiencies and we've done that,"" he said in an interview.
The society's cost to income ratio dipped to PERCENT at DATE compared with PERCENT at DATE.
PERSON pointed to the society's lending performance as a highlight of DATE.
Net lending for DATE rose PERCENT to MONEY from MONEY with its share in GPE's net mortgage lending market rising to PERCENT from PERCENT. Assets grew PERCENT to MONEY from MONEY. Net receipts from savers rose to MONEY from CARDINAL in DATE.
ORG said LOC would not try to compete with GPE's large retail banks after its conversion in terms of the range of products they offer.
""I have no doubt that if we attempted to become an all-singing, all-dancing high street clearing bank we would be too small and we would get eaten up.""
PERSON rejected any charge that in the long-term, the society's members would be worse off because of conversion.
""What matters to customers is not the status of the company but the value of the packages they get.""
ORG said that ""hairshirt"" mutuals who are trying to justify the maintanence of that status by effectively paying dividends to their members through deflating their profits will not be able to count on this strategy in the longer term.
""They don't have the profitability to go out and buy new customers,"" he said.
ORG said GPE cost to assets ratio of PERCENT compares with PERCENT for the top CARDINAL building societies. ""That means I've got a MONEY margin to play with. We can use some of it to improve profitability and some of it, frankly, to cherry-pick business."" ($MONEY Pound)","CARDINAL of GPE's largest bulding societies, which plan stock market flotations in DATE, on DATE said draft legislation relating to protection from takeovers had forced them to examine their float plans closely.
The mutually-owned societies, who specialise in mortgage lending, the ORGamp; Leicester and the Northern Rock, all plan to convert to bank status DATE and have combined assets of MONEY (MONEY).
But a change in the draft of a new WORK_OF_ART has thrown their plans into confusion as the government proposes to change the way converted societies will be treated in the crucial area of takeover bids.
The issue is most pressing for the Alliance & Leicester as it seems highly unlikely that the new draft will be ready before ORG members meet on DATE to vote on conversion.
Previously, converting societies were protected by a rule which protected them from takeover for DATE after flotation, allowing them to make the transition successfully.
Until now, the only one to have gone through the process is ORG, which converted to a bank in DATE.
Draft legislation is now under consideration although it is doubtful whether there will time for it to become law before DATE general election.
The draft proposes that societies lose their immunity from takeover if they merge with another ""financial institution"" (after flotation) even on an agreed basis.
A ORG spokeswoman said this did not include the buying of mortgage portfolios from other financial institutions.
The ORG argues that converting societies should play by the market rules and that the focus of the bill is on those societies who want to remain mutual.
""The loss of DATE protection if any acquisition is undertaken - not just a hostile bid - seems a little unfair,"" PERSON, director of GPE told ORG.
The ORG said it was considering representations to retain immunity in the case of friendly mergers where a large society might merge with a small local institution.
ORG said the LOC and other societies were also very concerned at another proposed clause which would allow shareholders of the new company to waive DATE protection, saying this could allow takeovers by the backdoor.
He said a predator might be able to buy up PERCENT of the stock of the company and announce a bid at the same time, calling an extraordinary general meeting of shareholders which would be asked to waive the protection, bypassing the board.
The societies all said the uncertainty was the biggest problem at the moment -- what the bill will say and also when it will be published and whether it will have time to be passed.
""We think that if there is little chance that the bill will be passed, it would be better not to publish it at all, frankly,"" said PERSON.
The societies have a duty to inform members of all possible relevant information so they can make an informed decision.
The ORG said it hoped to publish its revised proposals DATE regardless of whether the bill is likely to pass into law before the election which must be held by DATE.
A Woolwich spokeswoman said there was no more than a possibility that the draft bill would delay its float. ""If the rules are changed, then the board would have a duty to reconsider,"" she said.
The other societies took a similar view, but the ORGamp; Leicester has a particular problem as its members have already been voting on the change by post.
""At the moment we are steaming ahead, we are on schedule,"" a spokesman for the ORG said. But he agreed that timing could be affected and confirmed that the ORG board would discuss the problem at a meeting on DATE.
The GPE plans to issue its transfer document, to members in DATE, but it must be printed in DATE, leaving little time for the government to produce the finished version of the proposed law ahead of this.
($MONEY Pound)",1
"The next stop for railroad industry consolidation is likely to be a GPE courtroom, where a judge DATE may decide if ORG can block a proposed union between ORG and ORG
Wall Street's attention turned to DATE hearing after ORG on DATE rejected a MONEY offer from ORG and reaffirmed its commitment to the ORG transaction, without revising terms of the MONEY pact.  
It was the ORDINAL time that ORG rebuffed an offer from ORG that topped the ORG transaction.
Although ORG shares rose DATE on the view that ORG would sweeten terms of the pact for a ORDINAL time, analysts and traders expressed little surprise that the deal was not revised.
""I think that ORG is probably awaiting the outcome of the court challenge DATE,"" said PERSON of ORG.  
In rejecting the ORG bid, ORG and ORG also dangled the prospect of a sweeter deal in front of shareholders, but made no promises. The CARDINAL companies said they are pursuing talks about increasing the value of the transaction once the deal is consummated.
Shareholders have expressed unhappiness with the ORG deal, which is a cash and stock transaction that values ORG at MONEY per share. ORG has offered to buy ORG for $MONEY per share in cash.  
According to GPE corporate law, GPE-based ORG is permitted to act in the interest of groups other than shareholders in determining the best partner. ORG has contended that a union with ORG is a better strategic fit despite ORG higher offer.
""They have an iron-clad contract and they're just waiting to get into court,"" CARDINAL arbitrager said about ORG and ORG.
GPE ORG Judge PERSON has scheduled a hearing for DATE to consider ORG suit to block the ORG merger.  
Meanwhile, ORG said it was not surprised by the latest rejection of its offer and accused ORG's board of ignoring its fiduciary responsibility.
ORG ran a full-page advertisement in ORG and ORG on DATE, urging shareholders to support its bid.","GPE has placed one of its largest investment trusts, stung by real estate losses, under administrative custody, and officials said on DATE that more such financial firms may suffer a similar fate.
ORG, the central bank, ordered ORG (CADTIC) placed under the administration of CARDINAL state banks in DATE, local bank officials said.
CADTIC's domestic business had been taken over by ORG while its overseas business had become the responsibility of ORG, a construction bank official said.
Bankers said the financial firm that was GPE's biggest investment trust company after ORG (ORG) had overextended itself due to serious mismanagement.
""CADTIC grew too big, it set up too many local branches and its scope of business was too wide,"" CARDINAL banker said.
It had extended its business beyond its officially sanctioned scope -- agriculture -- and suffered large losses from real estate investments and had also invested in securities, a banker in GPE said. The huge investment entity was owned by ORG.
""This underlines what we suspect -- that irregularities involving firms supposed to be engaged in agriculture business are fairly widespread,"" said a GPE banker who declined to be identified.
""They are all fairly overexposed to property,"" he said.
Bank officials said there were no plans yet to close the trust company, but did not rule out that it might be sold off in the future.
A ORG official declined to say whether the bank had plans to buy any or all of the trust company's assets.
The trust firm was still engaged in business as usual, said CARDINAL CADTIC official who declined to be identified.
ORG had taken over management of ORG's domestic debts while ORG was handling its overseas commitments.
Officials of the central bank declined to comment.
The ministries of ORG began an investigation into the financial situation of the company DATE, an official of the investment company said earlier.
""It is not possible to shut down CADTIC immediately because the knock-on effects would be very large, there would be a series of problems,"" said CARDINAL local banker. ""It should be taken over by the banks.""
Unlike GPE's state-owned banks, which can easily attract deposits but face tight restrictions on loans, the financial institutions can operate without any loan limitations, he said.
GPE was stepping up supervision of financial institutions, and new, tighter rules and more frequent checks were expected to result in several more such actions against firms engaged in irregular business, he said.
Financial institutions could be taken over, ordered to stop business or to merge, he said. Many that had little business, large debts and large losses were expected to close, he said, but declined to give details of the irregularities.
CADTIC has reported assets of MONEY (MONEY) and outstanding loans from such international financial institutions as ORG.
ORG DATE arranged a MONEY loan through ORG to a MONEY fish protection project in the GPE and PERSON.",0
"Political opposition to the ORG's call for more public funding lent added urgency on DATE to joint venture talks between the corporation and CARDINAL rival pay television groups.
The CARDINAL rivals for the ORG's hand are U.S.-controlled cable and satellite programmer GPE and satellite broadcaster BSkyB, in which PERSON ORG is the largest shareholder.
Both want to launch new subscription channels based on the ORG's wealth of quality programming.
The ORG is under increased pressure to beef up its commercial activities after politicians criticised its demand for an above-inflation licence fee increase.
ORG Director-General PERSON used a speech at ORG on DATE to launch the campaign for what he said would be the ORDINAL real increase in the licence fee since DATE.
The fee, fixed by the government and payable by all television set owners, is QUANTITY ($MONEY) DATE.
Birt argued that more money was needed to ensure the ORG remains ""the touchstone of quality"" in the digital era.
But politicians from both main political parties appear opposed to his appeal. With a general election due by DATE, party strategists believe it would be folly to support a rise.
The ORG is seeking to preserve its place at the heart of the broadcasting world as the industry gears up for a new era.
ORG technology -- in which images are transmitted as a series of binary digits rather than as varying electric signals as under the existing analogue method -- will soon make CARDINAL of extra channels available.
The ORG, with its huge library and production facilities, is an ideal partner for companies such as GPE and BSkyB as they seek to compile attractive programme packages.
The ORG plans to offer a TIME news channel, supplementary programming and wide-screen tranmission to all licence fee payers in the digital era. Joint-venture subscription channels in areas such as drama and natural history would help fund this expansion.
The ORG reported a net benefit of MONEY from commercial activity DATE -- small beer compared with the MONEY generated by the licence fee. It is aiming to treble commercial income over DATE.
Media industry analysts say that GPE is in a strong position in talks with the ORG.
The CARDINAL are already partners in ORG, a subscription channel showing vintage shows. NORP media group ORG are also partners in ORG but GPE is in talks to buy them out.
It could also unlock the lucrative north NORP market for the ORG as its parent, ORG (ORG), is the largest cable television group in GPE.
A report in DATE's Observer quoted PERSON, head of ORG's international division, as saying they would want any new ORG channels to be carried on BSkyB's network as it has the widest distribution for pay channels in GPE.
But BSkyB, which is planning to launch digital satellite services offering some CARDINAL channels in DATE, would clearly prefer to deal directly with the ORG.
It could use its financial muscle to make the cash-strapped ORG an offer which the corporation would find hard to refuse.
($MONEY Pound)","GPE's ORG, which won control of hotel and catering empire Forte in DATE, DATE reported a PERCENT surge in DATE profits to MONEY (MONEY).
The media and leisure group said that it would deliver on its promise to improve profits at PERSON by over 100 million pounds (MONEY) per annum from CARDINAL.
Calling the results ""very satisfying,"" ORG Chairman PERSON told ORG, ""The key has been the speed with which we have been able to move on the PERSON businesses.""
Granada took over family-controlled PERSON in a QUANTITY (MONEY) deal DATE after a bitter bid battle that raged over DATE and EVENT period DATE.
The company said PERSON had responded well to its management and that it had already improved profitability there by approaching MONEY (MONEY).
Granada continues to reorganize following the acquisition of GPE's leading hotel group. PERSON said there was substantial interest from a wide range of potential purchasers of the luxury hotels it has put on the market.
Granada sold the ORDINAL of the CARDINAL PRODUCT hotels DATE when GPE-based ORG bought GPE's FAC for MONEY (MONEY).
Robinson said GPE expected to complete the disposals by DATE. Analysts calculate the sale of assets including FAC in GPE and ORG in GPE will raise a total of MONEY (MONEY).
The ORG chairman said the company hoped to sell the Welcome Break chain of NORP motorway service areas in DATE or DATE. The CARDINAL sites were acquired in the ORG deal but must be sold off because of monopoly concerns.
But he said there were no plans to sell the PERCENT stake ORG holds in pay television operator ORG.
Group turnover in DATE climbed PERCENT to MONEY (MONEY). Total dividend was raised by PERCENT to 13p (MONEY) per share.
Granada shares, which had risen in DATE in anticipation of bumper results, fell by CARDINAL (MONEY) to CARDINAL ($MONEY) in a generally gloomy market.
The largest contribution came from the ORG division, which boosted profit before interest and tax by PERCENT to MONEY (MONEY) as the PERSON acquisition bore fruit.
The new ORG unit contributed CARDINAL (MONEY) while ORG, including ORG's CARDINAL NORP commercial television stations, made CARDINAL (MONEY), up PERCENT. Profits from the high street rentals arm was marginally higher at CARDINAL (MONEY).",1
"GPE's securities authorities DATE ordered the takeover of a futures exchange in what analysts said was the beginning of a clean-up campaign that may leave GPE with CARDINAL large futures exchanges.
ORG said ORG would merge with ORG, according to the GPE-based ORG.
ORG, which was forced to suspend trading for DATE from DATE after the securities authorities accused it of irregularities, would become a trading floor of ORG, the official newspaper said.
Analysts said the merger was the ORDINAL of an expected series aimed at closing many of the smaller commodities exchanges around GPE that have been the focus of intense market speculation.
""This shows the determination of the authorities to restrict and clean up the futures industry and is a sign of more mergers to come,"" said an analyst with a metals trading company active in the futures markets.
GPE recently launched a sweeping crackdown on its futures markets and authorities DATE issued CARDINAL documents stressing the need to further clean up the industry.
Rumours have circulated for DATE on the futures markets that authorities would close most of the nation's CARDINAL exisitng commodity exchanges, mainly through mergers that would allow CARDINAL of the largest and best-run to survive.
ORG said GPE was selected as the ORDINAL to be merged among the CARDINAL because of rampant trading irregularities on the exchange.
Analysts said there were currently too many exchanges trading similar futures contracts, particularly cereals and metals.
But they said the takeover process would be far from easy due to opposition from local governments and a range of technical difficuties. The exchanges provided significant tax income for local governments, said CARDINAL analyst, who noted that differences in the contracts and rules of trading also presented many problems for combining various exchanges.","GPE on DATE rolled out the memory of long-dead revolutionary leader PERSON to strengthen its drive for reunification with GPE and defy what it sees as foreign forces trying to split the motherland.
The ORDINAL anniversary of ORG's birth was an occasion for remembering his work for the cause of national unity, said the official ORG newspaper in a front-page editorial on a national hero revered by both GPE and arch-rival GPE.
Sun had firmly advocated the safeguarding of both GPE's sovereignty and unity, President PERSON told an anniversary meeting in GPE's cavernous FAC.
""It was always the unremitting pursuit of Mr PERSON to achieve the return of GPE at an early date and to fulfil the great cause of the unification of the motherland,"" said ORG, the mouthpiece of GPE's communist leadership.
While in GPE's day it had been NORP occupation that kept the NORP apart from their mainland brethren, ORG's unitary zeal was as relevant now as then, it said in an article that also hit out at foreign forces trying to divide GPE.
In fullsome tributes to ORG issued by the state media, officials rushed to appeal to GPE leaders to work for speedy reunification while condemning all moves toward independence.
Sun, who helped lead the DATE revolution that overthrew GPE's imperial DATE, also founded ORG which later fled to GPE after losing a bitter civil war against the communists in DATE.
While ORG says it took up his banner of revolution after his death in DATE, GPE's NORP leaders see themselves as ORG's true heirs.
The farmer's son turned doctor and radical has long been seen as a potential symbol of unity for politicians on either side of LOC who have walked very different revolutionary roads in DATE since his death.
Cross-strait relations have been sorely tested in DATE by GPE's attempts to break out of the diplomatic isolation imposed by GPE, which considers the island a rebel province and has vowed to invade, if it ever declares independence.
Separatism was still rampant in GPE, while forces both there and abroad still worked to split the NORP nation, ORG said.
""The activities to split the motherland of the GPE authorities have not ceased and forces for 'GPE independence' run wild on the island,"" it said.
""Internationally, forces still exist that interfere in our nation's internal affairs and support 'Taiwan Independence'.""
While some NORP politicians have long called for independence, the ruling ORG dissmisses GPE allegations that it harbours a hidden ""CARDINAL Chinas"" agenda and says it is firmly committed to reunification DATE.
Growing detente between GPE and GPE ran aground in DATE, when GPE President PERSON made a landmark unofficial visit to GPE, enraging GPE.
Ties cooled further in DATE when NORP war games and missile tests in the seas near GPE overshadowed the island's ORDINAL direct presidential election, prompting GPE to send CARDINAL aircraft carrier battlegroups to the area.
ORG intelligence specialists have concluded that the war games were rehearsals for a possible all-out invasion of the island in the future, a study made available on DATE showed.
While NORP state media called on the populace to emulate ORG's revolutionary spirit, local authorities celebrated the anniversary with historical soirees and exhibitions.
Gold and silver stamps bearing his portrait would be issued nationwide soon, the official ORG said.",0
"NORP-based ORG reported on DATE a small rise in interim net profit, but the bottom line result hid a strong performance from the group's home brews.
Foster's posted a PERCENT increase in net earnings to MONEY, after booking a MONEY abnormal loss.
The loss was due mainly to ongoing restructuring costs of the group's PERCENT owned NORP brewer, PERSON, and concealed a PERCENT rise in pre-abnormal net earnings to MONEY.  
Foster's chief executive PERSON largely attributed the rise in pre-abnormal earnings to a ""sparkling"" performance from the group's domestic powerhouse, GPE and ORG (ORG), in DATE.
""ORG had a PERCENT increase in the volume of beer sold, a remarkable result in a beer market which rose PERCENT,"" he said in a statement.
ORG, which has taken a commanding market lead in GPE over chief rival ORG, contributed MONEY in earnings before interest and tax, a rise of PERCENT over DATE (DATE).  
The group result came in at slightly below the average forecast for DATE profit of MONEY.
The share price dipped MONEY after the announcement, but a GPE broker said the stock was also moving to the tune of speculation PERSON's may buy back the PERCENT stake held by resources giant ORG
BHP indicated on DATE it was in no hurry to sell its PERSON's investment. Foster's shares were trading at A$MONEY at 0325 ORG (TIME), down MONEY on DATE's close.  
Foster's said it expected earnings before interest and tax (EBIT) to be higher in DATE than the MONEY reported in CARDINAL, but that interest costs and the re-emergence of tax liability on NORP income would have an impact on the overall earnings for DATE.
But ORG said losses at its brewing operation in GPE widened in DATE.
Foster's said its GPE operations recorded a loss before interest and tax of MONEY in DATE compared with a loss of MONEY in DATE.  
It said revenues in GPE for the CARDINAL rose to MONEY up from MONEY DATE, with volumes sold rising to CARDINAL hectolitres compared with CARDINAL hectolitres.
Foster's wine unit, PERSON, contributed MONEY in earnings before interest and tax (ORG) on sales of MONEY, while its ORG acquisition, completed in DATE, was on track to achieved targeted DATE earnings growth.
-- GPE bureau CARDINAL-2 9286-1421","A former chief executive of NORP retail giant ORG spent MONEY of the company's money to renovate his home in a case of DATE greed and excess, a court heard on DATE.
PERSON, DATE, who rose from a junior store assistant to run the country's biggest retailer, went on trial on DATE in ORG on a charge of conspiracy to defraud.
Quinn has pleaded not guilty and suggests he was set up.
The prosecution said on DATE that Quinn conspired to spend MONEY (MONEY) of the group's money on renovations to his GPE home DATE, expanding and renovating it and building a tennis court, spa and pergola.
Prosecutor PERSON accused Quinn of excess, saying CARDINAL room was painted CARDINAL times, the house was extended by QUANTITY (QUANTITY) and the land was levelled using a rock crusher and surrounded by a double-brick fence.
""This is a case...about excess in money wasting, excess as to how much work was down, excess as to the materials used, excess as to the hours spent,"" PERSON told the jury.
""But most of all it's a case about greed. It's a case about having your employer paying for your excesses,"" he added.
The prosecution said PERSON and another former PRODUCT manager, PERSON, conspired to ensure PERSON paid the bills by pretending the work was being done on stores owned by PERSON.
""The expenses were largely concealed from his employer, who was meeting the cost,"" PERSON said.
Lanyon, as chief of the company's maintenance department, falsified invoices to conceal the fraud but ""he did so in collusion with, or on the orders of, the accused man"", he added.
But defence lawyer PERSON said PERSON was the victim of a corrupt maintenance department headed by Lanyon and corrupt works contractors. Both concealed costs from GPE who agreed in DATE to partly reimburse the company, he told the jury.
""He is as much a victim as the company is,"" PERSON said.
Quinn's home belonged to PERSON until DATE, when he bought it for what prosecutors estimate was CARDINAL market value. Prosecutors said that even while PERSON owned the house, the work was done without board approval.
""PERSON is charged with stealing from his employer whilst he was living in a company house, which indicates how much of a nonsense and a load of rubbish we believe this case is,"" PERSON told the jury.
The trial is expected to DATE.",1
"Supermarket group ORG said on DATE that it expected to open CARDINAL new wholly-owned stores in DATE, as well as continuing to build up its presence on petrol station forecourts.
In a telephone interview with ORG after the company announced an PERCENT rise in DATE pretax profit to CARDINAL stg, chief executive PERSON said the group continued to be ""well-placed as a small operator in this niche where we are complementary to the superstores and the discounters.""  
""The successful companies will continue to take market share from the less successful ones,"" he said.
Budgens saw sales rise by PERCENT to CARDINAL stg in DATE, while on a like-for-like basis they climbed PERCENT.
ORG said that sales growth in the run-up to Christmas slowed down as large stores pulled in trade, but had picked up again in DATE.
Shares in the group were virtually unchanged after the results, trading MONEY higher at CARDINAL in early dealing on DATE.
PERSON +44 CARDINAL 7717","ORG said on DATE that its MONEY acquisition of ORG of the GPE offered a perfect product fit and access to major military aircraft supply contracts.
GPE is an electrical power generator manufacturer for military and civil aircraft. It has a key GPE position to supply the LAW military aircraft which is the principal GPE fighter jet.
It has also secured an order to supply the new version of the LAW, involving CARDINAL aircraft.  
PERSON, director of public affairs, told ORG in an interview that GPE's contract for these military aircraft alone involved ""very substantial sums. MONEY over a DATE period.""
The smaller civil aviation side of the business includes a contract to provide generators for the CARDINAL commercial aircraft. PERSON also services the FAC and CARDINAL aircraft in other product areas, he said.
The GPE deal will be earnings enhancing in DATE after acquisition. But PERSON said it would not be implementing job cuts or cost cutting.",0
"Light rains in GPE after a dry start to DATE will help mid-crop (DATE) cocoa crop development, particularly if they extend into DATE, a crop analyst said on DATE.
""We have seen around average rain levels for DATE so far but a little more now and in DATE would help,"" another local crop analyst told ORG.
Distribution of rains was patchy.
Most fell in central and northern cocoa and coffee areas, particularly around Man, PERSON, GPE and GPE, the data showed. Little fell in coastal areas around GPE and Abidjan.
""The front (associated with rain) is now over central areas,"" said CARDINAL weather analyst. ""Central areas have seen a surplus for the period but southern areas are in deficit,"" he added.
CARDINAL crop analyst told ORG rains seemed to have reached most cocoa and coffee areas.
""There seem to have been good light showers in most cocoa areas,"" said the crop analyst after returning from an up-country tour. ""There is no dust on most bush tracks.""
Dry harmattan conditions from the LOC had now retreated northwards after failing to reach southern GPE as usually expected in DATE or DATE.
Exporters and crop inspectors said cocoa humidity levels remained PERCENT against exportable quality of PERCENT, despite drying efforts
Coffee farmers have also had drying problems but export activity remained low after shipments put by port sources at QUANTITY for DATE, exporters said.
Quality inspectors said a better picture of coffee humidity and quality after rains would emerge as arrivals picked up.
The data, from GPE national weather station, showed the following rainfall for DATE in key growing areas plus the commercial capital GPE:
Dalao 47.5 mm, GPE 7.8 mm, GPE QUANTITY, GPE 6.2 mm and PERSON, PERSON, GPE 44.8 mm, GPE TIME, PERSON n/a, Adiake n/a, PERSON 0 mm.
No data were available for Adiake and PERSON.
-- Matthew Bunce Abidjan Newsroom +225 CARDINAL","President PERSON sent a message of condolences to GPE President PERSON on DATE after a GPE pilot was killed during an anti-drug mission in southeast GPE.
PERSON, DATE, died when his ORG crop-dusting plane crashed into dense jungle in GPE province DATE while he was fumigating illicit plantations of coca leaf, the raw material for cocaine.
""In the name of the NORP people and that of my government, I offer sincere condolences for the tragic death of PERSON,"" Samper wrote to PERSON.
""His death is added to all those others that have occurred in DATE during our bitter fight against the poison of drugs. The memory of ORG, and that of our policemen and soldiers, will give us additional motivation to continue the fight,"" he said.
Police said ORG, CARDINAL of CARDINAL civilian pilots working in GPE under contract with ORG, was killed on DATE of his contract.
GPE ambassador PERSON said he was the ORDINAL GPE aviator to die on such a mission.
The question of GPE personnel taking a direct role in drug or counterinsurgency operations is a thorny issue because of what some NORP politicians see as the possible infringement of national sovereignty.
Samper said in his letter that ORG had been ""training NORP pilots in illicit crop fumigation.""
But since DATE such ""training"" functions have extended to frontline operations, including flying live missions to spray coca leaf and opium poppy plantations, ORG officials told ORG.
Crop-dusting planes come under frequent attack from armed gangs and leftist guerrillas who guard the clandestine drug plantations.
But police chief Gen. PERSON said DATE there was no indication ORG's plane had come under fire despite a heavy rebel presence in the area. He said the most likely cause of the crash was human error or mechanical failure.
An accident investigation was under way and ORG's body was scheduled to be flown back to GPE DATE TIME. He was employed by GPE-based aviation company ORG, but authorities have not said where he was from.
GPE's U.S.-backed drug crop eradication programme is the most ambitious in LOC. DATE the NORP destroyed QUANTITY (QUANTITY) of poppy and QUANTITY (QUANTITY) of coca leaf.",0
"Health and industrial gases specialist ORG said on DATE that its troubled healthcare business is likely to turn in a flat performance in DATE to DATE before recovering.
In a telephone interview with ORG following publication of the group's best-ever DATE profit figures, chief executive PERSON said the ORG health business faced another challenging DATE in tough GPE markets.  
The anaesthetic gas and machinery supplier will be ""flat DATE, but starting DATE this thing ought to start climbing,"" said PERSON.
The health division, hit by continued falls in the price of BOC's once top-selling anaesthetic gas ORG and weak GPE demand for anaesthetic machinery, was the only BOC unit to see operating profits fall, dropping PERCENT to CARDINAL stg.
Solid gains in the rest of BOC's business saw DATE pre-tax profits rise by PERCENT to CARDINAL stg, right at the top of analysts' forecasts, while sales climbed PERCENT to MONEY stg.  
The strong pound cut the advance in DATE pre-tax profits by CARDINAL percentage points to PERCENT, and ORG warned that stronger sterling ""is bound to hit profits"" if it continues.
Despite its laggardly performance, the fall in profits at healthcare was less steep than many analysts had feared after a warning from BOC at DATE, which led to a rash of earnings downgrades.
ORG said the division, which accounted for PERCENT of BOC's MONEY stg of sales, had performed ""much better"" in DATE.  
""You can go from being a bum to a hero very fast,"" he said.
The market had also been braced for a poor performance at FAC, whose machinery creates super-clean environments for industry, because of a downturn in the overcrowded semi-conductor market.
In the event the loose alliance of business known as vaccuum and distribution posted a PERCENT gain in DATE operating profit to CARDINAL stg, although the gain in the DATE had slowed to PERCENT as the impact of a fall-off in semi-conductor orders started to bite.  
PERSON pointed to tentative signs of a pick up in the computer industry, such as a rise in the DATE GPE industry book-to-bill ratio. But he said the vacuum business ""will see a decline in profits DATE"", but did not predict its extent.
In the core industrial gases business, where operating profits rose PERCENT to CARDINAL stg on sales up PERCENT to MONEY stg, ORG said he expected profit margins to rise by CARDINAL percentage points over the ""next three to four years.""
Margins edged up to PERCENT of sales in DATE from PERCENT.  
A major factor behind the improvement will be the huge increase in the number of DATE supply contracts BOC has won in the GPE These entail BOC building gas-making plants next to customers such as steel works, in return for guaranteed sales.
The up-front costs involved in these contracts helped to push BOC's capital spending up to CARDINAL stg in DATE just ended, and ORG said ""I think it will be higher DATE.""
Outside the GPE, BOC is targeting investment in the LOC region, notably in GPE, GPE and GPE. ORG said BOC is also ""looking pretty hard at GPE"" where it could invest MONEY over DATE.
PERSON +44 CARDINAL 7717","Shares in NORP-based drugs group PERSON raced ahead on DATE following encouraging results from tests of a potential new vaccine and treatment for hepatitis B.
Shares in GPE, which have climbed steadily DATE on the expectation of good news, jumped PERCENT to MONEY before easing to MONEY in TIME trading, up MONEY on DATE. The stock has risen PERCENT since DATE.
In an update of its product portfolio, GPE also announced a tie-up with small drug discovery group ORG which could see painful injections against illnesses such as influenza, typhoid and tetanus replaced by nasal sprays or capsules.
The CARDINAL are also investigating a vaccine against the E-coli bacteria, which has killed CARDINAL people in a recent outbreak in GPE. GPE said it spent MONEY (MONEY) taking a PERCENT stake in GPE, whose shares soared PERCENT to MONEY.
But the market's main focus was on prospects for the hepatitis B vaccine, PERSON, which many analysts see as a huge potential money-spinner. In an interview with ORG, GPE chief executive PERSON said PERSON could eventually sell ""CARDINAL of doses"" a year, and carry a CARDINAL-figure price tag.
The vaccine is targeted at a significant group of people who do not respond to existing NORP B vaccines, such as ORG FAC sees a large market for it, especially among health workers and police who are routinely protected against the infection.
Still more exciting is the drug's potential to treat people who are already infected with Hepatitis B, which is CARDINAL times more infectious than HIV and kills CARDINAL people a year around the world. ORG said tests on people who do not respond to the current treatment, ORG, showed a PERCENT response rate.
GPE will decide DATE whether to expand production capacity for ORG at its plant in ORG in northwest GPE or to look elsewhere for extra output.
A major surprise was GPE's declaration that it would seek regulatory approval for ORG in LOC and GPE in DATE, opening up the prospect of ORDINAL sales in DATE. ORG said this was a sign of confidence that GPE would win outstanding battles over patents on both sides of the LOC.
It won a key judgement in GPE's ORG against GPE rival ORG DATE. ORG said GPE would not be seeking marketing partners for PERSON beyond its existing agreement with ORGamp; PERSON to sell PERSON in southeast LOC.
""We are not looking for a partner. That does not mean they won't happen but we are fairly confident we can do it ourselves,"" he said.
Medeva, whose executives spent DATE TIME with analysts, also announced plans to go ahead with development of a purified form of its most profitable product, the behaviour-controlling drug PERSON.
ORG said the new version of the drug being developed by ORG would give GPE important patent advantages over rivals and cut down the number of times a day Methylphenidate is taken.
The drug is used to control attention deficit disorder in children and young adults. It is widely used in GPE but ORG said it was starting to be more accepted in GPE and LOC. ($MONEY Pound)",1
"The rights to ORG huge Busang gold discovery in GPE appeared to be up in the air DATE despite an NORP government statement declaring GPE's ORG the winner.
""We still don't have a deal. There are a number of points that are still being negotiated,"" PERSON spokesman PERSON said in a phone interview. ""Negotiations are still ongoing.""
""I can explain to you that we don't have a signed agreement,"" PERSON spokesman PERSON said.
The NORP government told ORG in GPE DATE that the CARDINAL companies had agreed to split the deposit, with PERSON getting PERCENT and ORG keeping PERCENT.
""They have reported they can both accept the government suggestion,"" of a CARDINAL-25 split, said PERSON, secretary-general of ORG.
""They are also ready to provide a PERCENT stake to the government,"" he said. ""It is good.""
DATE, GPE asked ORG to form a joint venture with ORG and announce a deal by DATE. When the deadline passed, the CARDINAL companies said they had reached agreement on some issues but that others were still outstanding.
""We are negotiating toward an end,"" PERSON said DATE.
He said legal issues stood in the way of an agreement.
""The whole thing is totally confusing,"" said gold analyst PERSON of brokerage PERSON in GPE.
""I think these guys are close, but there are probably a few things in the way.""
The companies are wrangling over the GPE gold find, which holds MONEY of low-cost gold on the island of GPE.
Neither company would provide details about the terms of a deal, when the terms would be announced, whether shareholders would be able to vote on the agreement or who would be given essential contracts of work granting mining rights to the property.
PERSON was still hoping the NORP government would drop its request for a deal with ORG and let Bre-X find a partner through an open bidding process, PERSON said.
""We're getting signals from the consulate, from the embassy, from Mr. PERSON,"" he said. ""We certainly hope the government allows the process to proceed as originally planned. It would be to the best interest of ORG shareholders.""
GPE, GPE-based gold firm ORG has complained about being shut out of the process despite DATE of negotiations.
GPE has said it wanted a chance to put forward a bid, but its status was in limbo as it awaited word from the NORP government.
ORG, which had previously shown interest in GPE, said DATE it was preoccupied with a takeover bid for ORG
PERSON closed down MONEY (MONEY) to C$MONEY ($MONEY), topping the list of most active stocks on ORG. ORG fell MONEY (MONEY) to C$MONEY ($MONEY) in GPE and by MONEY to $MONEY on ORG.","ORG huge nickel, copper and cobalt property at GPE's FAC remote GPE keeps getting bigger, with CARDINAL drill rigs working around the clock to define CARDINAL enormous deposits that promise to upset the world's metals markets.  
""There are QUANTITY for sure, close to proven,"" said PERSON, a drill manager for ORG, which has an exploration contract until DATE at the LOC site on a sub-Arctic land mass that is closer to GPE than to much of the rest of GPE.
""This here is a world class deposit. DATE we're hitting stuff,"" said ORG, waving his arm to point at the vast stretch of bog and thin forest surrounding the round, rocky hill where metals were discovered DATE.  
Inco's most recent calculations, compiled in an internal report at DATE, showed QUANTITY of resource (corrects from ""proven or probable reserves"") spread out over CARDINAL different deposits at the GPE's LOC. Resources are potential reserves.
On average, the deposits graded PERCENT nickel, PERCENT copper and PERCENT cobalt, the report said.
At the ORG deposit, found close to the surface of a bog close to LOC, drilling has outlined QUANTITY. Exploration is finished at the Ovoid and PERSON now plans to mine the area through an open pit mine.  
The Eastern Deeps, which lies under a series of hills covered with sparse trees and lush moss, has not yet been defined.
Recent calculations showed QUANTITY of ore, but the deposit was open in all directions.
To the west of the ORG, in LOC, drills are uncovering another rich deposit. The mineralization was uncovered DATE, after ORG, the owner of GPE's Bay, accepted ORG's MONEY takeover offer.  
So far, drilling has defined QUANTITY, but the deposit is growing steadily.
Both ORG and the Western Extension need extremely deep holes to strike significant metal, and each major hole takes DATE to drill, said ORG.
CARDINAL holes have been completed so far, with a total drilling meterage of QUANTITY, ORG said in its recent mine and mill project description.
""Over half of our holes are good. They're mineralized,"" said DATE geologist PERSON as she examined a new box of core samples just brought in from the Eastern Deeps.  
""It just blows you away. It's an explorationist's dream.""
ORG plans to keep drilling at a breakneck pace until its contract ends in DATE.
Inco has not said whether it will extend NORP's contract, but the GPE-based company has promised to spend MONEY over DATE on exploration.
PERCENT of the property has been explored so far, but small exploration companies that have claims surrounding ORG's QUANTITY site have not found anything significant.  
New resource calculations are expected within DATE, PERSON, spokesman for ORG subsidiary PERSON's ORG told ORG in GPE, PERSON.
Mining at GPE's GPE is expected to last DATE, with a concentrator on site handling QUANTITY of ore a day. Mining will likely continue DATE, despite high winds, extremely cold temperatures and thick ice that locks in the site for DATE.
""The information that we have at this time suggests it will be possible to operate DATE 'round with ice breaker support,"" said PERSON.
-- ORG PRODUCT",1
"The GPE economy should provide a repeat in DATE of the steady growth seen in DATE, which should also lead to car and truck sales near DATE levels, according to economists who work for the Big Three automakers.
Economists for ORG and ORG both forecast vehicle sales CARDINAL and CARDINAL in DATE, while ORG economist predicted sales of CARDINAL. Sales were CARDINAL in DATE. The forecasts were made in a presentation to ORG Analysts.  
""We are likely to see more of the same,"" ORG's PERSON said, echoing the view of the other CARDINAL analysts.
""We see no significant changes in either direction on fiscal or monetary policy,"" said PERSON of ORG.
ORG's PERSON was even more optimistic. ""I frankly don't see why this growth can't continue into DATE,"" he said.  
But that does not mean the auto industry has no concerns. The CARDINAL short-term worry all CARDINAL economists voiced was the weakening of the yen, which fell to CARDINAL to the dollar DATE from DATE. A weaker yen makes NORP imports, including automobiles, less expensive in GPE.
That, in turn, makes NORP cars more competitive in the GPE market, giving NORP automakers more flexibility in pricing, analysts said.  
But the analysts all expected political or market pressures to cause the yen to stabilize and then strengthen somewhat against the dollar DATE.
""We should see the yen start to strengthen,"" Zimmerman said.
PERSON forecast the yen at CARDINAL to the dollar by DATE.
In western LOC, analysts see continued economic pressure associated with the move to NORP union in DATE continuing to weigh on the economy there and keep vehicle sales about flat.  
But ORG argued that there is a possibility for a positive surprise in central LOC, saying GPE could achieve PERCENT economic growth by DATE.
GPE was also seen as an area for growth, with that economy recoverying quicker than expected from the recent peso crisis, analysts said.
Meanwhile, PERSON argued that capacity usage for truck production will remain at PERCENT through DATE and that truck demand as a percentage of total vehicle market share will continue to rise.
""We see the light truck demand reaching PERCENT (of total vehicle demand) by just past DATE,"" he said.
But other analysts were not as optimistic about demand for light trucks, which generally have higher profit margins than cars.
""I don't think it will reach PERCENT of demand,"" said PERSON, chief economist with ORG.
During his presentation, ORG also said his forecast for DATE auto sales was on the low end of a range he defined MONEY autos.
	 ((GPE newsdesk CARDINAL 408-8787))","ORG, the nation's ORDINAL-largest retailer, DATE reported higher DATE results, giving added credence to analysts' projections of an industrywide strong holiday shopping season.
Women's retail chains PERSON and The ORG also posted higher results.
General merchandise retailers should post decent gains in DATE and DATE combined, said PERSON, an analyst at ORG, a unit of ORGamp; ORG
""It's going to be overall in the CARDINAL-to-5-1/2 percent increase range (over DATE sales). More importantly, the gross margins and the profits are going to look better,"" PERSON said.
PERSON said it had a PERCENT increase in operating earnings for DATE. Results were aided by a strong performance at its ORG discount stores.
The GPE-based retailer reported operating earnings of MONEY, or MONEY a share, MONEY above analysts' estimates. DATE it earned MONEY, or MONEY a share.
""The key issue was a very strong performance from ORG in all areas,"" said PERSON, retail analyst at ORG.
ORG's operating profit in DATE rose PERCENT to MONEY, and total revenues increased PERCENT while same-store revenues rose PERCENT, PERSON said.
Meanwhile, PERSON ORG's unit reported a PERCENT increase in operating profits to MONEY in DATE, boosted by reductions in marketing costs, store expenses and headquarters costs. The increase came despite a PERCENT drop in revenue and a decrease in gross margins.
""Our DATE results reflect continued strong profit performance at ORG and ORG,"" PERSON Chairman PERSON said in a news release. ""While the holiday calendar is challenging, we believe we are well positioned for a successful finish to DATE.""
DATE includes DATE between GPE and DATE.
GPE-based ORG reported net income of MONEY, or MONEY a share, after a MONEY, or MONEY-a-share after-tax charge related to obligations under its former chairman's contract. That compared with $MONEY, or MONEY a share, DATE.
GPE, GPE-based ORG reported operating earnings of MONEY, or MONEY a share, before gains from initial public offerings, compared with MONEY, or MONEY a share, DATE.
""Our much improved DATE results reflect performance gains and continuing momentum in certain of our women's and our emerging businesses"" including the ORGamp; Fitch business, ORG Chief Executive PERSON said in a statement.
""Consistent with our sales plan, we enter DATE period well positioned, with overall inventories up PERCENT per square foot at retail,"" he said.
Analysts agreed The Limited was well positioned for DATE.
""I think they're positioned for a decent DATE,"" said PERSON, analyst at ORG ""Inventories are conservatively managed.""
PERSON stock rose $MONEY to $MONEY, ORG rose MONEY to $MONEY and ORG fell MONEY to $MONEY, all on ORG.",1
"Foreign cash is holding steady in GPE, hoping for economic and stock market recovery even though there are few signs of either so far.
""I think a lot of fund managers will be doing a lot of wishful thinking, but at DATE I don't think (GPE) will be going anywhere in a hurry,"" PERSON, joint managing director at ORG said.
Most funds appeared to be neutral on GPE against ORG widely-used LOC ex-GPE free index.
ORG said DATE that research data suggested funds were neutral to overweight, while ORG said funds were neutral to underweight.
GPE stock exchange data suggested a PERCENT retail fund sell-off in DATE brought most funds into neutral.
""The worst should be over, both in terms of politics and economics,"" said PERSON, BZW LOC's chief investment officer.
Investor nervousness has abated somewhat following the recent election of a new coalition government headed by ORG. But most commentators agreed the immediate direction of GPE's ORG index, which closed on DATE at CARDINAL compared to a DATE-high of CARDINAL, depends on the announcement of cabinet appointments and new economic measures.
""There's a good chance we'll have a little rally back up to, say, CARDINAL if (coalition leader) PERSON brings good people into his cabinet,"" said PERSON, investment manager with ORG in GPE.
Rowley also said the GPE has performed strongly through DATE and January every year for DATE.
""There's a very high seasonality element in GPE,"" she said. ""So we might see some little rally ... but I expect foreigners to sell into that and bring the market back down again, maybe even lower than it has been before.""
Others agreed that more selling can be expected with funds assuming an underweight position while GPE grapples with gaping trade and current account deficits, a slump in corporate earnings and a weak bank sector.
""Further market downside exists, though the extent of a decline will not be large,"" ORG said in a research report.
Poor corporate earnings are considered the prime culprit. PERSON has reduced its corporate earnings forecast for DATE to PERCENT from PERCENT, following a decline in price-earnings ratios to CARDINAL from DATE.
Offsetting the bad news are falling inflation, some hopes of improved export competitiveness DATE and expectations of better trade and current accounts on a decline in imports.
""Without the new measures, without an improvement in the current account deficit, we think the market will find it difficult to break through the CARDINAL level,"" said PERSON, investment director at ORG.
PERSON is expecting some turnaround in the ORDINAL or second quarters of DATE, partly because slower imports will ease the trade deficit and improve the current account deficit.
Most agree improvements in a current account deficit of PERCENT of gross domestic product are needed before GPE can turn around. But there is considerable scepticism about common forecasts of an economic and stock market recovery within DATE.
""It's been DATE away for a long time now. PERSON and behold, DATE is also conveniently DATE away,"" Rowley said.","Twentieth Century ORG joined the hunt for a larger slice of the LOC video market on DATE by announcing a new regional office in GPE for its home entertainment division.
""We believe this is an under-developed market and therefore represents CARDINAL of the best growth opportunities we have,"" said PERSON, president of ORG ORG. Twentieth Century ORG is owned By ORG
The new regional headquarters, which forms a crucial part of ORG's recent restructuring, will oversee marketing and distribution for video subsidiaries in GPE, GPE, GPE and GPE.
""In DATE, ORG has completely restructured the way we do business,"" PERSON said.
""We set out to establish regional offices to provide a regional focus and give us an opportunity to better coordinate local efforts,"" he said.
MONEY has been spent and CARDINAL people hired as part of the expansion into LOC, which accounts for PERCENT of the video division's revenue and contains its largest territory in terms of revenue contribution, GPE.
""It's for sure GPE is our major market and ahead of GPE but this is a regional office and GPE is the place in LOC to put your regional office,"" said PERSON, senior vice-president at ORG.
The international focus was CARDINAL of CARDINAL critical strategies adopted in a drastic overhaul of ORG Fox DATE, PERSON said.
""ORG realized that to become the premier filmed entertainment company, it had to focus on the international market place,"" he said.
Yapp said LOC's rising revenue contribution played a big role in reinforcing the importance of international expansion, as did an evening out of theatrical revenues from a prior ratio of PERCENT international, PERCENT GPE
ORG's CARDINAL other restructuring strategies, setting up CARDINAL distinct production units and beefing up executive and creative talent, are well underway and reaping rewards, he added.
The number of films in development on the lot has increased from CARDINAL to over CARDINAL while the number of pictures being released by the studio has grown to DATE from DATE.
PERSON also hopes to increase its share of the top CARDINAL all time best selling live action videos from CARDINAL with the video release on DATE of its new blockbuster, EVENT, which has grossed MONEY in box office sales DATE.
""ORG is off to a very strong start on the road to the future,"" PERSON said. ""Our projected revenues will increase PERCENT in DATE and contribution will increase by PERCENT. The goal has been established our objectives have been set and the path to the future has been charted.""
-- Hong Kong Newsroom (CARDINAL) 2843 6441",1
"Biotechnology company ORG said late on DATE that it expected to post a pre-tax loss of CARDINAL stg in DATE before moving firmly into profit.
Finance director PERSON said in an interview with ORG that a further CARDINAL stg receipt DATE from the DATE sale of the ORG business to ORG would push the group back into the black DATE. Analysts said CARDINAL of the payment would go to ORG's bottom line.
And a successful launch of ORG's septic shock treatment, being developed with GPE's ORG, and leukaemia drug, with ORG should see the GPE-based group post an operating profit in DATE.
""I think that 1997/1998 will be a better year. Providing both products launch when we expect them to launch we will start to get some contribution from the septic shock product in DATE,"" he said.
With the ORG sale swelling cash in the bank to CARDINAL stg at DATE, ORG said PERSON would have no need to seek fresh funding for its day-to-DATE operations. A cash-call would only have to be made if there were problems with the CARDINAL lead drugs or ORG decided to make an acquisition.
Cash burn for DATE would be CARDINAL stg, PERSON said, with spending on research and development rising by CARDINAL to CARDINAL stg. He predicted that milestone payments would be at similar levels to DATE, totalling CARDINAL to CARDINAL stg.
PERSON added that analysts' forecasts of CARDINAL stg of royalties from the ORG product ReoPro were ""fairly conservative.""
Chief executive PERSON told ORG that ORG remained committed to its strategy of collaborating with major drug companies, but was considering taking more products through to later stages of development itself. He said the group's psoriasis drug, currently in GPE trials, would be a prime candidate for such a move.
""We can see that by doing it ourselves, at least in LOC, we can control the timetable better ... and probably get a larger slice of the cake,"" he said.
The chief executive also told ORG that ORG could be interested in making an acquisition in the right circumstances. He praised rival ORG MONEY acquisition of GPE gene technology company PERSON DATE as ""very creative.""
""I think if we could identify a particular set or sets of technology, or CARDINAL or CARDINAL pipeline products, then potentially we would have an interest..but we wouldn't simply go and buy something with a view to making ourselves that bit bigger.""
PERSON +44 CARDINAL 7717","ORG shares plunged to a DATE low DATE after the software company reported an unexpected DATE loss and said it could face weak sales for DATE.
Some analysts said they also were concerned that ORG declining sales could hurt ORG's revenue from sale of software for ORG computers in DATE.
Shares of the GPE graphics software vendor fell $MONEY, or PERCENT, to $MONEY in ORG trading -- the lowest price since DATE.
ORG on DATE reported a loss of MONEY, or MONEY a share, for DATE, compared with net income of MONEY, or MONEY a share, in DATE. DATE revenue fell PERCENT to MONEY from MONEY.
Wall Street expected ORG to report net income of MONEY a share, according to a recent survey of analysts by ORG.
Macromedia gets CARDINAL its revenue from Director, a computer program that helps graphic artists make animated clips for video games and multimedia software.
ORG customers are putting off Director purchases until the company releases a new version in DATE, analysts said.
""We are left with the concern that there will be a dip in revenue"" in DATE as well, said PERSON, analyst at brokerage firm ORGamp; Co. in GPE.
ORG also gets PERCENT of its revenue from ORG software sales. A slow rollout of high-end ORG PCs in LOC led to slow NORP sales for ORG as well, said PERSON, analyst at ORG.
""WORK_OF_ART market is like a block of ice melting in the sun,"" leaving many Mac software vendors, including ORG, to suffer, PERSON said.
ORG likely will post a small loss in DATE, ending in DATE, ORG said.
Several analysts also said they were concerned ORG might not be able to finish the new version of Director until spring, which would jeopordize earnings until DATE.
ORG officials could not be reached for comment immediately.",0
"All CARDINAL airlines flying directly between GPE and GPE said they can start to use a new, short cut to LOC across GPE from DATE with DATE DATE timetables on DATE.
This means more cargo and less fuel can be carried along with a cut in passenger journey times of TIME, industry sources said.
ORG, ORG and Virgin Atlantic all say they can begin to utilise the new northern route over GPE instead of the traditional longer southerly route over GPE and GPE in their DATE schedules. The short cut was agreed during recent talks between the NORP and NORP governments, they say.
A ORG spokesman said up to an hour can be cut off the flying time for its ORG PRODUCT aircraft on some NORP routes which will also have the ability to carry QUANTITY of cargo. BA can carry QUANTITY of air cargo DATE if its twice DATE PRODUCT aircraft utilise the new routing, its GPE based spokesman said.
A spokesman for ORG said the new routing will enable its ORG A340 aircraft to carry QUANTITY of freight westbound and QUANTITY eastbound and save QUANTITY of fuel.
Aviation analysts say the new routing offers significant cost saving advantages and allows airlines to carry full cargo loads all year round because strong headwinds during DATE restricts cargo payload.
But they say it is not all good news because the airlines haven't been granted permission for all flights.
""It is fantastic news for the airlines and very influential on the bottom line but realistically ORG can't utilise the new routes on all flights because it has not been given a full quota and neither have the others,"" PERSON, Vice President and senior research analyst of LOC equity research at ORG told ORG in an interview.
A ORG spokesman said it will have the most access to the number of flights that can use the new routing. Other NORP services to GPE, GPE and GPE will also be able to benefit as well as GPE bound ones, he added.
Curfews at both FAC and PERSON airports will also cause scheduling difficulties until GPE new, around the clock airport at PERSON is due to open in DATE time, analysts say.
""Aircraft need to leave GPE before the 11.30 pm local (16.30 ORG) curfew starts but the new routing could mean arrival at FAC at round CARDINAL ORG which is TIME before the end of their curfew so the new routing doesn't offer a lot there,""Negline said.
""You can also see a further deterioration in cargo yields because the airlines are getting extra capacity for next to nothing,"" ORG added.
ORG said the airlines will also benefit from better aircraft and crew utilisation; the aircraft will be able to fly extra sectors and its crew who fly for TIME can be redeployed on other services.
PERSON, a GPE based airline analyst for regional stockbrokers and investment bankers ORG also said the new routing will obviously benefit aircraft utilisation and fuel efficiency.
""Yes shorter routes will save money but if all CARDINAL airlines are allowed to do the same thing that rules out competitive advantage. If CARDINAL airline could use the new route then it would be different but the consumer will feel the benefit.
ORG said the GPE to GPE route is ORG's ORDINAL largest passenger revenue generating route of around HK$1.4 billion a year.
""It is a relatively important route but even if they can save CARDINAL five per cent on this route compared to ORG's total turnover of MONEY a year.it's not that much. Yes, it's a useful way in which ORG can offset some of the negatives it is facing in terms of yield decline,"" ORG said.
Analysts reckon the airlines can save QUANTITY of fuel per flight but that may be offset by expected higher overfly fees set by the NORP who are aware of how much the airlines can save.
Analysts say the airlines need all the help they can get by utilising shorter routes and using new technology such as ORG which allows aircraft more direct routing. Because of successful negotiations earlier, ORG and ORG have been able to fly the shorter route over GPE to LOC for DATE. - Air Cargo Newsroom Tel+44 171 542-7706 Fax+44 171 542-5017","NORP surgeons began exploratory surgery on President PERSON on DATE to remove a spot from his lung, but the former dissident playwright has said that his health was not in serious danger.
ORG's office announced in a statement that a news briefing would be held on DATE TIME after the operation but an official said it was impossible to say how the long the surgery would last.
Havel, a heavy smoker who spent DATE in communist jails, has been ill for DATE.
But in his DATE radio address, broadcast on DATE, he was in an optimistic mood, saying the operation would ""remove some sort of bad point or spot found on my lungs, the character of which is still unknown"".
""However, even if it is something bad, it is so small and its location is so favourable that it seems that I am in no serious danger,"" he said in the address, recorded on DATE.
Havel, who led the DATE ""Velvet Revolution"" which overthrew communism, said in the address from his hospital bed: ""I am here not because my state of health is worsening"".
""On the contrary, never in DATE have I felt as well as I feel just now.""
Havel, who is widely respected at home and abroad, was admitted to hospital DATE, DATE after his office said he was suffering from pneumonia. Later surgeons described the planned surgery as ""medium serious"".
The NORP DATE FAC said that a sample of the spot would be sent for immediate analysis during the operation. Based on the results, surgeons would decide whether to continue with the operation, it said without elaborating.
Havel will keep his full presidential responsibilities during the operation.
Under the NORP constitution, most executive power lies with Prime Minister PERSON who is attending the NORP security summit in GPE in ORG's place.
ORG's power lies more in his personal authority and reputation for honesty in a NORP political scene increasingly dominated by squabbling and allegations of impropriety.
Opinion polls show his popularity rating at PERCENT while public disillusionment with NORP politics is widespread.
Turnout for elections to the new ORG DATE was PERCENT in the ORDINAL round, and a poll published DATE showed that PERCENT of respondents were dissatisfied with the state of NORP politics.
Havel, whose wife PERSON died of cancer in DATE, supports the free market but has bitterly criticised the corruption, dishonesty and materialism which has accompanied the scramble to make money.",0
"GPE on DATE blasted GPE penalties against its textiles ahead of a visit DATE by GPE Secretary of ORG PERSON, but said the CARDINAL sides had more in common than differences.
GPE accused GPE of not having produced enough evidence to support textile sanctions and said it opposed strong-arm tactics to settle trade disputes.
""We are opposed to one side imposing its will on another in trade disputes,"" ORG spokesman PERSON told a regular news briefing.
""GPE has not fully consulted with GPE and has not provided clear supporting evidence,"" PERSON said.
But Cui declined to comment on whether the dispute would overshadow a visit by PERSON to GPE DATE. PERSON's last visit to GPE DATE ended in wrangling over human rights issues.
""This is an important bilateral meeting,"" PERSON said of PERSON's trip, scheduled for DATE.
PERSON's visit would help lay the groundwork for bilateral relations in DATE, PERSON said, adding there was no reason for GPE and GPE not to develop a healthy and stable relationship.
""The state of relations between the CARDINAL countries will...have major effects on the peace, stability and prosperity of the LOC and the world as a whole,"" PERSON said.
""We will discover that the common interests of GPE and GPE are far greater than the differences,"" PERSON said.
GPE and GPE both say ties have warmed after a series of spats over GPE, human rights, arms proliferation and trade over DATE.
In the most recent clash, GPE said on DATE it would temporarily ban imports of selected GPE textiles, farm goods, fruits and alcoholic drinks from DATE in retaliation for GPE sanctions taken against NORP textiles.
GPE announced penalties against imports of NORP textiles in DATE, accusing GPE of using shipments through ORDINAL countries to avoid quotas agreed upon in a bilateral textile accord.
GPE trade officials said on DATE that NORP violations of the textile accord were well documented. The sanctions were expected to cost GPE MONEY a year.
The spokesman sidestepped a question about whether the textile dispute would be part of discussions during PERSON's visit but said GPE hoped for a solution beneficial to both sides.
""We have always been devoted to developing bilateral trade on the basis of equality and mutual benefit,"" PERSON said.
""We hope again that GPE will be able to adopt a stance helpful to the development of NORP-U.S. trade,"" PERSON said.","Shares in Premier PERSON dipped on DATE after the newly enlarged electronic components distributor posted DATE profits slightly below expectations.
Premier PERSON was created in DATE when GPE's ORG completed a MONEY takeover of GPE's Premier Industrial Corp -- a company twice its size.
Pre-tax profit for DATE totalled MONEY (MONEY). That was down on the pre-tax figure of MONEY DATE but that had been flattered by a large CARDINAL-off gain.
More pertinently, analysts had forecast profit in a range of CARDINAL to MONEY and the failure to reach that level was reflected in a DATE decline in the share price to PRODUCT.
The company said that the market for electronic components has shown much lower levels of growth in DATE than in DATE and added it did not expect any major change in conditions for the rest of DATE.
""I think the evidence is we've bottomed the cycle and the signs at the moment are positive. But we are planning on a more conservative basis at this moment in time,"" chief executive PERSON told ORG.
Premier said its priorities were the development and international expansion of the catalogue business and further exploitation of synergies between its transatlantic operations.
PERSON said he was delighted with progress on integration following an acquisition which had transformed the company, based in the northern LANGUAGE town of NORP, into the ORDINAL largest electronic components distributor in the world.
""The integration is going superbly..I am very pleased with what people have done on both sides of the LOC,"" he said.
He said he did not see any further scope for cutting costs following the acquisition.
""I think we've finished with all of the cost-cutting. This was never a deal which was built on reducing overheads and getting rid of people,"" he said.
""We said we would remove duplication in our CARDINAL head offices -- we've done that, we've probably dropped CARDINAL people since we made the acquisition."" The company now has CARDINAL staff, CARDINAL of whom are in GPE.
""What the business is about now is building sales and building our profits that way,"" he added.
Premier PERSON said its sales expansion projects were on schedule and should begin to make a contribution in DATE. REUTER
($MONEY Pound)",0
"Regional brewer ORG, ORGamp; PERSON on DATE reported an PERCENT decline in sales of its key brand ale ORG in DATE due to the rising popularity of so-called nitrokegs.
But the ale increased its market share by PERCENT as its competitors real ales suffered even more. Overall sales of the company's own brewed beers rose PERCENT and it launched its own nitrokeg, PERSON's PERSON, in the DATE.
""Nitrokeg is having quite an effect in terms of market share,"" said chief executive PERSON in an interview.  
The company's shares were CARDINAL lower at ORG. But the country's CARDINAL largest brewers -- ORGamp; GPE and PERSON -- who boast a huge portfolio of brands, saw their shares rise.
S&N shares were up CARDINAL at PRODUCT after announcing an unexpectedly strong PERCENT rise in DATE profits on DATE. Unlike traditional beers, nitrokegs do not undergo a ORDINAL fermentation in the cask.  
Brewers have scurried to launch their own nitrokegs after the runaway success of PERSON-owned ORG, which sold fast in the scorching DATE.
Caffrey's, served chilled, has taken traditional real ale drinkers away from warmer ales and also attracted premium lager drinkers.
PERSON, ORG reported a PERCENT increase in its pretax profits to CARDINAL DATE, driven by strong food and liquor sales in its managed estate.  
Food sales were up by PERCENT and now account for PERCENT of total sales in its managed pub estate. The company's managed estate of CARDINAL pubs made operating profits of CARDINAL up PERCENT.
""There is no evidence that demand is dropping. The average spend per head is QUANTITY for food and the retired elderly and the young can afford to do that maybe CARDINAL times a week,"" said PERSON.
""I feel there is a touch more consumer confidence,"" he said, adding conditions were better now than for DATE.
In a separate statement, PERSON said it managed to increase sales of PERSON despite tougher competition from other nitrokegs. PERSON shares were unchanged at 188p.
-- GPE PRODUCT +44 CARDINAL 6437","NORP-Dutch food-to-detergent group ORG , reporting DATE results DATE, is likely to have suffered from restructuring costs for its NORP industrial cleaning business PERSON and from weak ice cream sales in a drab NORP summer, analysts said.
PERSON, acquired in DATE from GPE for DATE, was merged with Lever Industrial in DATE to form a combined business with DATE turnover of MONEY stg and a workforce of CARDINAL in CARDINAL different countries.
Analysts predict DATE pretax profits in a range of MONEY, against CARDINAL stg last time.
The wide range reflects uncertainty about the size of redundancy payments and closures needed to reshape PERSON.
Charges for PERSON could range from CARDINAL stg, with a further CARDINAL needed for restructuring other ORG businesses.
But the interim dividend, paid in DATE, is forecast to rise sharply as a result of changes to dividend policy announced at DATE.
Analysts expect a CARDINAL dividend payout under a new policy whereby PERCENT of DATE total dividend would be paid in the stronger of either NORP guilder or sterling so far DATE. A DATE payout would represent a PERCENT increase on DATE TIME.
For DATE period analysts are forecasting pretax profits of MONEY.
""NORP ice cream sales are not going to have the special benefit they had in DATE or DATE,"" said PERSON, analyst at ORG.
""NORP economies are generally weak, and NORP consumption if anyhing lower because of the tough economic climate there,"" he added.
PERSON at Panmure PERSON saw CARDINAL factors behind the downturn. ""The exceptional charge will be a bit higher, perhaps CARDINAL compared with CARDINAL DATE, and ice cream sales in DATE will have been influenced a lot by DATE weather.""
""Last but not least is the currency factor, with the majority of ORG profits in GPE dollars and the recent weakness in the dollar clearly having an impact.""
The consensus forecast ORG for DATE, taken from CARDINAL brokers polled by ORG, is CARDINAL, rising to CARDINAL in DATE. CARDINAL brokers downgraded their DATE ORG forecast in DATE.
ORG's return on equity is currently running at PERCENT, against PERCENT for GPE, the highest in the ORG all-share food manufacturing sector.
The company's shares reached a high of MONEY for DATE in DATE before closing down at DATE on DATE.
-- GPE PRODUCT +44 CARDINAL 6437",1
"ORG on DATE, buoyed by financial sector share gains, continued to rebounds from its recent slump, closing higher for the ORDINAL consecutive session.
PERSON, ORG, PERSON and PERSON all gained ground as the ORG index edged up CARDINAL points, or PERCENT, to CARDINAL.
The ORG RPIX index, measuring the CARDINAL continuously- traded equity issues on the bourse, climbed CARDINAL points to CARDINAL.
Overall, CARDINAL shares rose on DATE, while CARDINAL lost and CARDINAL held steady. Total volume was CARDINAL shares on turnover of CARDINAL crowns.
For ORG, which rose CARDINAL crowns to CARDINAL, it was the ORDINAL consecutive PERCENT gain, the maximum allowed by the bourse in a session, after the government said it would be the ORDINAL of the big CARDINAL banks to undergo privatisation.
On DATE, ORG Minister PERSON gave investors the signal they had been looking for when he said that a strong foreign strategic partner would be the most likely beneficiary of any sell off.
Since the announcement, ORG and ORG have been rumoured as the frontrunners in any bid to participate in the selloff. The government holds about a PERCENT stake in ORG.
""If you were to bring in a foreign partner such as the caliber of the CARDINAL banks mentioned, that addresses questions that have been hovering around IPB on its perceived lack of corporate structure and transparency,"" said PERSON of Wood and Company.
The bank has been widely-criticsed for being the least transparent of the CARDINAL major NORP banks in its dealings, especially a recent spending spree that has seen it quietly buy large stakes in several firms.
Several utilities also fared well at the fixing, with PERSON, PERSON, PERSON, PERSON and Elektrarny Opatovice all rising.","A decision on the fate of ailing airline ORG is not due until DATE and no bidder has yet formally submitted an offer to acquire the company, the president of the ORG commercial court said.
""At the moment, no bid has been submitted,"" Dominique PERSON told ORG by telephone. He denied newspaper reports that there was a CARDINAL ORG deadline for the bids.
""Bids have to be in DATE. That can be TIME or TIME. We are not going to close the mailbox,"" PERSON said.
He said the court would on DATE TIME at the earliest make a statement about the bid or bids. After that it would study the offers.
""According to the law we have DATE to study the situation. But it is clear that the company's cash position cannot hold DATE,"" he said.
""We will do all we can but the court cannot decide in TIME,"" PERSON said, adding a decision was due at DATE at the earliest.
ORG is preparing a bid for the regional airline, proposing to merge it with its NORP ORG unit.  
A spokesman for ORG in GPE said the company feared the NORP government would like a NORP company to acquire ORG to prevent ORG or another foreign airline from obtaining the carrier and its valuable slots at Orly airport.
ORG owns CARDINAL of the slots at Orly, GPE' ORDINAL largest airport specialising in domestic routes, which represents CARDINAL take-offs and landings per year.
ORG lost MONEY in DATE and has debts of MONEY. The company was placed under bankruptcy protection on DATE after merger talks with other NORP airline ORG failed.  
PERSON, head of NORP travel company PERSON and charter airline ORG, said he planned to bid for both ORG and ORG.
AOM, formerly ORG, is being put on sale by the state agency PERSON (CDR) which is divesting former ORG assets.
PERSON, chairman of ORG, said DATE he might also bid for ORG if ORG did so. But a Virgin executive told FAC on DATE that the company was not yet sure whether a bid for ORG was the best way to develop its business in GPE.  
ORG is owned PERCENT by ORG. PERSON has PERCENT, ORG (ORG) PERCENT, ORG, PERSON has PERCENT, PERSON PERCENT and ORG PERCENT.
Chairman and founder ORG has PERCENT and other interests have PERCENT.
ORG expanded its network rapidly in DATE, making full use of the opening up of the big national routes such as ORG, ORG, ORG and GPE-Bordeaux.
ORG unit ORG, renamed ORG, previously had a monopoly over these routes.
ORG, ORG, PERSON, ORG's ORG and others cut their prices in order to win market share on the routes prior to the complete opening up of the NORP -- and NORP -- air market in DATE.
But ORG was unable to fill its planes and posted losses. The company also claimed it suffered from a forced regrouping of its activities to ORG terminal, while ORG and ORG remained based in Orly Ouest.
-- GPE newsroom +33 CARDINAL DATE",0
"ORG pleased Wall Street DATE by announcing a CARDINAL-way corporate break-up that analysts said will unlock the value of the company's core high-tech communications systems business.
""Generally, these things work in the sense that when you do the spinoff, the sum of the parts tends to be greater than the initial whole,"" said industry analyst PERSON at ORG.
At the same time, the planned creation of CARDINAL new companies raises some questions, analysts said.
GPE-based ORG said it will create a company to be called ORG out of its cable television, satellite and telephone businesses.
Also planned is creation of a new firm called CommScope Inc out of a world-leading coaxial cable manufacturing business, and ORG out of electronic component manufacturing operations.
""Investors will be able to value each of the CARDINAL companies on its own merits and growth fundamentals,"" said ORG chief executive PERSON.
Shares in ORG were up CARDINAL at TIME.
The prize to emerge from the bust-up will be ORG, focused on high-speed modems, television cable set-top boxes and other hot areas. ""That's where the growth is,"" said analyst PERSON of PERSON.
But some analysts questioned how the business will fund its growth after being stripped of the coaxial and semiconductor businesses, which throw off large cash flows.
""The answer must be that that portion will have to, from time to time, come to the equity market,"" PERSON said, adding that a recent optic fiber deal with ORG bodes well for ORG.
Optic fiber is replacing coaxial cable in many places, especially along communications trunk lines, which may pose a threat to the distant future of ORG, analysts said.
But PERSON pointed out, ""There's still quite a lot of the world to be cabled up...That company, by the way, has been gaining market share.""
Finally, ORG on its own will suffer from the same cyclical swings in the electronic components markets that drove it as a unit of ORG, analysts said.
""CARDINAL of that company are going to be very good stocks. The semi-conductor unit, well, it will come along when the semiconductors recover,"" Ehrenkrantz said.
ORG said the break-up will force it to take charges against earnings of MONEY on DATE results due DATE.","ORG said DATE it planned to split into CARDINAL companies through a tax-free spin-off to shareholders in a bid to boost its stock market value.
Wall Street welcomed the move, which was seen as unlocking the value of the GPE-based company's core high-tech communications business.
""That's where the growth is,"" said industry analyst PERSON of brokerage PERSON.
ORG said it will create ORG out of its cable television, satellite and telephone business; ORG out of its coaxial cable manufacturing business; and ORG from its units that make electronic components.
""Investors will be able to value each of the CARDINAL companies on its own merits and growth fundamentals,"" said ORG Chairman PERSON.
The company said the breakup will force it to take an after-tax charge against earnings of MONEY, or MONEY to MONEY a share, for DATE. The DATE charges consist mainly of costs related to the transition to the next generation of digital products, restructuring costs incurred through DATE, and the write-down of certain assets, the company said.
The company said it will incur additional charges DATE of MONEY for costs related to the spin-off, including the costs of dividing the company's GPE assets between ORG and ORG.
The company expects DATE earnings, which will be announced DATE, to be in the range of MONEY to MONEY a share, excluding the charges. DATE, the company reported net earnings of MONEY, or MONEY per share, in DATE.
The restructuring is expected to be completed DATE.
Friedland, who will become chairman of ORG, said the CARDINAL businesses would be best positioned as independent, public companies.
""The businesses have different dynamics and business cycles, serve different markets and customers, are subject to different competitive forces and must be managed with different short- and long-term goals,"" PERSON said in a statement.
NextLevel will be comprised of ORG cable, satellite and telephone businesses, which had DATE sales of MONEY. The company will supply systems and components for high-performance networks delivering video, voice and Internet and data services.
CommScope Inc. will make and supply coaxial and electronic cables, businesses that had DATE sales of MONEY.
ORG, the company's power semiconductor division, will supply low-to-medium power rectifiers and voltage suppressors. It had DATE sales of MONEY.
ORG stock rose MONEY to close at $MONEY on ORG.",1
"Former ORG executive PERSON said DATE he was no longer cooperating with the GPE government in its price-fixing probe, adding yet another wrinkle to the complex antitrust case.
Whitacre, a government informant for DATE in the federal investigation of his former employer, was indicted DATE along with CARDINAL other ex-ADM executives for conspiring to fix prices of the feed additive lysine.
Also indicted were PERSON, former executive vice president and vice chairman of ORG, and PERSON, a former group vice president. PERSON is also the son of ORG Chairman PERSON.
""I have decided not to participate in the government's coverup any longer,"" PERSON told ORG.
Asked to comment on the indictment against him, PERSON said, ""I have no comment other than when all the evidence comes out in this case, the only people that will have questions yet to answer will be ORG and the ORG (ORG) itself.""
ORG did not respond to PERSON's statement.
Legal experts said it was common for federal informants and cooperative witnesses to be indicted, though they often receive lenient treatment and light sentences in return for their cooperation.
""If the informant got too good a deal, it would diminish his credibility,"" said PERSON, a former assistant GPE Attorney in GPE who has no direct knowledge of the case involving ORG and PERSON.
PERSON's decision to stop cooperating with the government could jeopardise his treatment by ORG. But antitrust attorney PERSON of the GPE firm PERSON, Mannix and McGrath, said ORG's previous cooperation could still be taken into consideration.
""He can argue, I think, that he was cooperative up to a point,"" said PERSON, who is not involved in the ORG case. ""(That) is a factor that ought to be taken into account.""
By no longer cooperating -- and presumably not agreeing to testify on behalf of the government in upcoming trials against the defendants -- PERSON could weaken the government's case somewhat, legal experts said.
""It would weaken the government's case (against PERSON and PERSON) to some extent, not to have the guy who made the tapes to interpret them,"" ORG said.
While he was cooperating with federal investigators, PERSON had said that he made CARDINAL of tape recordings of ORG executives allegedly in price-fixing discussions.
But the government's case was unlikely to be derailed since the tapes still could be used, ORG said.
In DATE, ORG pleaded guilty to CARDINAL counts of fixing prices of lysine, a feed additive, and citric acid, which is used in food, beverages and other products. ORG also agreed to pay a MONEY fine.
A lawsuit PERSON filed against his former employer in DATE stated that the government's case against ORG was based ""in large part upon the information obtained from EVENT.""
Whitacre gave no further reasons for his decision to stop cooperating with the government. But he has been involved in several legal tangles since the ORG price-fixing probe ORDINAL came to light in DATE.
In DATE, ORG fired PERSON, who had been head of its ORG division, for allegedly stealing MONEY from the company. PERSON has denied those charges, saying the money allegedly involved off-the-books bonuses that he received that were approved by company management.
ORG has sued PERSON over the MONEY. PERSON filed a wrongful dismissal suit DATE against ORG.
ORG has been conducting a separate investigation into the money that PERSON received and allegations of off-the-books payments by ORG.","PERSON, which produces genetically altered soybeans, on DATE defended the scientific tests that back its safety claims for the crop.
""We did something like CARDINAL tests to evaluate those soybeans,"" said PERSON, manager of public affairs for ORG. ""These soybeans are absolutely safe.""
The environmental group ORG has continued to protest the genetically altered soybeans and has criticized  ORG for allegedly not testing the biotech crop for exposure to the herbicide ORG.  
ORG's genetically altered ORG soybeans are resistant to the ORG herbicide, allowing farmers to spray ORG on the fields to kill weeds without harming the crop.
But use of ORG to kill weeds could result in residue on the harvested soybeans.
PERSON of ORG, however, said ORG residue is not an issue since tolerance levels for the herbicide had been previously established and did not need to be established by testing.
Therefore, ORG's testing of biotech crop focused on genetic alteration.  
""What we figured would be the new piece of information was the one protein that we added to the plant, itself,"" she said.
PERSON said ORG soybeans have been reviewed and approved by regulatory bodies in GPE, GPE, GPE, GPE, ORG and GPE.
She added that ORG soybeans have also received food safety approvals in GPE, the GPE and most recently GPE, and are under consideration in GPE.
ORG analyst PERSON said that while concerns about ORG soybeans must be addressed, he does not expect any impediments to market the crops.
""In some form or fashion, ORG will be able to commercialize the work that they've done,"" said PERSON, who focuses on agribusiness and biotech companies.
He added that residue on the soybean crop should not be an issue since ORG breaks down over time to ""environmentally benign"" substances that do not pose a threat.
ORG Chicago Newsdesk (CARDINAL) DATE",1
"PERSON, sentenced to labour camps, cowed or exiled, GPE's pro-democracy activists have virtually vanished.
The latest dissident to be swallowed by GPE's gulag was prominent literary critic PERSON, sentenced on DATE in a labour camp. Veteran democracy activist PERSON has simply disappeared.
Any hopes among NORP dissidents of a revival of their beleaguered movement may lie with ORG in GPE and whether it decides on DATE to select WORK_OF_ART nominee and veteran democracy activist PERSON.
However, few in GPE expect PERSON, regarded as the father of GPE's struggling democracy movement and serving DATE of a DATE jail term, to win WORK_OF_ART and thus halt the slow demise of NORP dissent.
Members of PERSON's family said they did not consider him a serious contender because of the strength of competition from front runners such as PERSON, the GPE architect of GPE's peace treaty, and former GPE president PERSON.
ORG spokesman PERSON voiced outrage at the suggestion on DATE.
""I have already stressed many times that PERSON is a criminal who has broken NORP law. This kind of criminal basically has no qualifications to win any prize,"" he said.
Wei was jailed for DATE for his role in the DATE Democracy Wall movement when he wrote an article that called for democracy as GPE's ""WORK_OF_ART"" and attacked paramount leader PERSON as a dictator.
He was released on parole in DATE after serving DATE and re-arrested the following DATE. He was sentenced to DATE for plotting to subvert the government.
""Would it make a great deal of difference?"" said CARDINAL Western diplomat when asked about the impact if PERSON were to win WORK_OF_ART. ""It wouldn't get him out any quicker. It would turn the international spotlight on GPE for a little while but that of itself would not be enough to get the (democracy) movement going again.""
Diplomats have expressed surprise at the rash of arrests and convictions of dissidents -- many of them sentenced to the administrative punishment of ""re-education through labour"" that avoids a complicated trial process.
""My feeling had been that the whole business was under control,"" the diplomat said. ""There are a few who pop up and engage in experiments to annoy the authorities but they are nothing serious or threatening to the regime.""
He attributed the new crackdown to a secret plenum of ORG, expected to finish later on DATE with a statement on the importance of ""spiritual civilisation"" -- or conformity to orthodox NORP values.
""Everyone will be expected to think properly and so they may need to tidy up a remaining few loose ends,"" the diplomat said.
PERSON, who gained fame during the DATE student-led pro-democracy movement, was ordered to serve DATE in a labour camp, a term imposed TIME after police detained him during a raid on his GPE home.
Veteran pro-democracy activist PERSON, who recently joined PERSON in a statement calling for the impeachment of President and party chief PERSON, had disappeared from his home in southern GPE, his wife said.
On DATE court officials told the family of PERSON, a detained dissident and leader of the DATE student protests, to hire a lawyer on his behalf, his mother said. ORG informed her that she had until DATE to find a lawyer, in a sign that his trial was imminent.
""They have had so many crackdowns in the past that most figures are under lock and key or safely out of the way abroad, and in either case pretty harmless,"" the diplomat said.","GPE is unlikely to concede on its demand to enter ORG as a developing country and has the patience to hunker down for a long wait to win accession on its terms, a senior NORP analyst said.
""Both sides need to make concessions, but there is CARDINAL issue of principle on which GPE will not change,"" PERSON, head of the department of ORG under the leading think-tank, ORG, told ORG in an interview at DATE.
""GPE will only enter as a developing country,"" PERSON said, referring to CARDINAL stumbling block -- that of GPE's entry status. GPE insists that the size of GPE's economy ranks it as a developed country.
""This is a matter of principle,"" PERSON said.
GPE was deeply disappointed when its application to join the world trade body as a founding member DATE failed, and talks since in GPE have proceeded at a snail's pace.
He said he expected little progress when ministers of the ORG's CARDINAL member states meet in GPE DATE, with GPE attending under observer status, but said GPE would seize the opportunity to explain its stand in meetings on the sidelines.
""After we gain recognition of our status then the talks could more easily proceed,"" PERSON said. ""There may be the possibility of concessions (by GPE) on some concrete issues.""
PERSON declined to say where GPE might be prepared to offer concessions in line with a ""road map"" presented to GPE by GPE outlining liberalisations it wants before it will support NORP membership.
He said GPE's economy was already remarkably open compared with some of its neighbours such as GPE and GPE.
""When you go shopping in GPE you see goods from all over the world on every shelf,"" he said. ""You don't see nearly so many NORP products on foreign shelves.""
NORP President PERSON announced at EVENT forum DATE in the GPE that GPE would slash average import tariffs to PERCENT by DATE from the current PERCENT.
PERSON said non-tariff barriers still existed in GPE, citing the service sector as CARDINAL area to which foreign firms were eager to gain admittance, but insisted GPE was gradualling pulling down these barriers.
""Opening up requires a process,"" he said. ""It is a fact that GPE is a backward country and must protect some parts of its economy. The demands on us must not be too harsh.""
Pei offered a less optimistic view than GPE's Foreign Minister PERSON who has said talks with GPE on entry could be wrapped up by DATE as well as ORG chief PERSON who has said DATE could see a solution to the exclusion of the world's most populous nation from the world trade body.
PERSON said DATE seemed a rather ambitious target given the distance between GPE and GPE on many issues, but said he hoped to see entry by DATE.
""There are both advantages and disadvantages to GPE from entry to the ORG,"" PERSON said, setting off the access to worldwide markets for NORP goods against the cost and competition its domestic industry would face.
""GPE's stand now is that it is up to the other side,"" PERSON said.
""GPE actively wants membership but it can wait. It will be good for GPE to enter but it won't be a catastrophe if we have to wait,"" he said.
""It is in no one's interests to keep GPE out.""",1
"ORG on DATE became the ORDINAL of the GPE Big Three automakers to align itself with the emerging auto superstore trend by announcing a new agreement with ORG, the parent company of ORG.
Under the agreement, ORG can submit proposals to acquire existing ORG or ORG dealerships. The pact also covers areas ORG may want a dealership where it does not currently have one.
The move could have implications for the future of GPE-based ORG, one of the largest dealer groups in the country, which is reported to be in merger talks with ORG.
ORG spokesman PERSON said ORG has not sold any dealerships to ORG. A spokesman for ORG, based in GPE, GPE, could not be reached for comment.
Mullinax, which owns several large ORG dealerships, was the ORDINAL largest dealer group in the country, based on its DATE retail unit sales of CARDINAL cars and trucks, according to industry trade publication ORG.
DATE, published reports began to surface on talks between Mullinax and ORG. The growing auto superstore chain was founded by PERSON, who transformed ORG into a MONEY business and owns the GPE professional football team.
ORG's deal with ORG is a ""framework agreement"" that opens the door for ORG to submit individual proposals, PERSON said. In a statement, PERSON, ORG's group vice president of marketing and sales, said the automaker believed private entrepreneurs with local community ties will continue to be the ""backbone"" of its franchise system.
""However, there will continue to be developments in the industry relating to other types of dealership ownership and distribution methods,"" he said. ""We are working diligently to ensure that the new operators fit into our franchise system.""
That is a change from DATE, when ORG Chairman PERSON told ORG it had no plans to offer a new-car franchise to an auto superstore.
DATE, ORG announced it would grant a new-car franchise to ORG in GPE, GPE CarMax is owned by consumer electronics giant ORG..
The move sent a shockwave through the traditional auto dealer industry, which had already been warily watching the growth of chains such as ORG and ORG in the used-car segment of the business.
The new superstores quickly have become popular with consumers because they offer large numbers of newer used cars at haggle-free prices in a pressure-free environment.
The ORG announcement signals the superstores will continue to build a presence in the new-car business, analysts said. ""That's big news,"" said PERSON, vice president of sales in the GPE office of ORG, a marketing research firm. ""It's definitely a change for ORG.""
The move is also noteworthy, he said, because ORG has traditionally been opposed to publicly traded companies owning its franchises.
ORG is the last of the Big Three to not have any franchise agreements with an auto superstore. ORG spokesman PERSON said the automaker was not opposed to the concept and has held talks with those groups in the past.
""We've held discussions. We'll continue to hold discussions. If CARDINAL of them wants to purchase a ORG dealership, we'll review it,"" he said.","ORG said DATE it will close its GPE pulp mill in southeastern GPE DATE after the failure of negotiations with the PERSON administration over timber supply.
The company said it planned to take a MONEY charge against DATE pre-tax earnings -- MONEY or $MONEY per share after taxes -- to reflect shutdown of the pulp mill and CARDINAL smaller plants nationwide as well as settlement of a shareholder lawsuit.
The closing of the controversial DATE pulp plant, which had been expected, will idle CARDINAL workers in GPE, a city of CARDINAL in the heart of the sprawling ORG where the mill has long been the biggest employer.
Company executives said the mill would close DATE, after the existing supply of timber is processed.
Under an agreement worked out by ORG and GPE Sen. PERSON, ORG said it expected to get enough timber to continue operating CARDINAL sawmills in the region for DATE, employing CARDINAL to CARDINAL workers.
GPE, Ore.-based ORG blamed the closure of the pulp mill, which lost MONEY in DATE, on ""the PERSON administration's opposition to any compromise that would allow the pulp mill to operate profitably.""
In a conference call with reporters, ORG Chairman PERSON spoke of forces outside GPE who wanted to reverse DATE of development in the state.
""There clearly is a push by many people who have a significant amount of power to shut down all of GPE, and I am assuming they're going to turn it into some great big national park whereby only tourists can visit,"" he said.
Environmentalists called PERSON's charge an exaggeration and said they were satisfied by the closure of a mill they claim has benefited from ""sweetheart"" federal timber contracts while causing significant air and water pollution.
PERSON of ORG called the mill closure a ""business decision to jettison a money-losing mill that can't compete in world pulp markets.""
But Suwyn blamed changes imposed by ORG after passage of the DATE WORK_OF_ART, aimed at protecting the QUANTITY reserve of old-growth rainforest that sprawls over islands, mountains and glaciers.
ORG has filed lawsuits in ORG, seeking MONEY for breach of contract, and will be filing ""significant additional claims in the very near future,"" PERSON said.
He acknowledged what he called ""stupid"" environmental mistakes that resulted in ORG agreement DATE to pay MONEY in civil and criminal penalties.
ORG also said it planned to close or sell several plants that are no longer competitive or essential to its operations, including several structural panel plants being hurt by market overcapacity.
The company also said it has agreed to pay MONEY to settle shareholder lawsuits stemming from a drop in the company's stock price DATE after revelations of civil and criminal actions.
Among them were class-action lawsuits over allegedly defective home siding developed by the company. ORG agreed DATE to pay MONEY to settle claims by homeowners in GPE, GPE and GPE, among other states.
Suwyn said the shareholder lawsuits were the last major cloud over a company the he joined DATE after the ouster of its longtime Chairman and Chief Executive PERSON.
""We're simply trying to clean up all the things that are not going to contribute to moving this company forward,"" he said.",0
"PERSON, GPE's top-selling modern artist, is back home in GPE, basking in the glow of his international success and planning a shift in subject matter -- this time to illustrate GPE's Generation X.
The artist, best known for his almost photographic paintings of NORP beauties, opened his ORDINAL-ever retrospective exhibition on DATE in the new ORG.
The show, running through to DATE before going on tour to other cities, is PERSON's ORDINAL exhibition in GPE.
It brings together CARDINAL works from a variety of public and private sources, including drawings from PERSON's youth during the DATE EVENT, through to his latest paintings depicting the strong faces of NORP peasants.
But his next artistic goal is to capture on canvas the feel of NORP urban youth in DATE, increasingly influenced by trends and concepts from beyond the borders of GPE, particularly Western culture.
""I want to do something on the life of the new generation, the ones I see dancing at FAC or GPE GPE (a GPE disco),"" PERSON said in an interview.
""This is a new generation of GPE after the revolution. I look at them and I think about the value of life. They look very happy, but maybe thinking a different way,"" he said.
MODERN CHINA'S TOP-SELLING ARTIST
PERSON holds the record for the highest price paid at auction for a modern NORP painting -- MONEY ($MONEY) for a NORP-theme painting called WORK_OF_ART, now owned by a NORP securities firm.
Now DATE, PERSON left GPE in DATE, the ORDINAL mainland NORP artist to emigrate to GPE in modern times.
But in spirit and in terms of artistic inspiration, he never really left.
His most famous paintings so far are a series of life-like portraits of NORP women dressed in traditional garb, while his paintings reflecting the atmosphere of old GPE are well-known.
He continues to produce landscapes showing the canals and villages of the east GPE region that is his ancestral home and looking at his NORP portraits, you can almost smell the yak butter.
GPE is also at the heart of his other artistic interest -- making movies. In DATE, he has directed several movies with mixed commercial success but he says he is determined to press on with this branch of the visual arts.
He is currently working on CARDINAL film projects, the ORDINAL of which will be a documentary on the Jews who lived in GPE in DATE before the NORP take-over in DATE, most of them refugees from repression in LOC.
GPE'S NEW GENERATION OF ARTISTS
PERSON said he was impressed by the standard of younger NORP artists, particularly in GPE and GPE, but declined to name any favourites.
""Many of the new generation are very hopeful. GPE will become very important on the world art market, the standard is really very high,"" he said.
He maintains apartments in GPE and GPE, but there's an important difference.
""In my heart, GPE is my home,"" he said. ""This is where I grew up. In GPE, it's just a room.""
He said he was really happy to see GPE developing so fast and so strongly.
""Everyone is watching GPE. If it can continue this level of development, this place has a lot of hope.""","ORG said its MONEY acquisition of ORG will serve as the core for the computer giant's plans to focus on education in its fledgling consumer products unit.
The deal will also give GPE access to ORG's worldwide distribution tentacles, which it needs to compete in the cut-throat consumer retail market, where the brutal fight for shelf space can sometimes make or break a software company.
""This gives us a very strong foundation,"" said PERSON, general manager, ORG.  
""We are working with a handful of other firms, but I expect Edmark to be the real core of this activity,"" ORG added. ""It is a base upon which we expect to grow.""
ORG, formerly of ORG, was appointed to head up ORG's newly-created consumer business in DATE. He was faced with a daunting task because ORG's previous forays into the home PC market have not met with much success and it is not well known for its consumer software.
As part of his refocusing of ORG in the consumer arena, ORG said ORG will only choose a few places to compete, and CARDINAL of those areas will be the family educational market.  
""I am not interested in the entertainment side of consumer software,"" ORG said. He also said ORG's latest models of its ORG home PC that it introduced in DATE, is gaining market share, where it is being marketed as a family learning tool. Software from GPE will fit in with that focus.
""ORG is focused on learning as the magic bullet that will elevate their position and raise their profile,"" said PERSON, director of consumer research at ORG. ""GPE has some very valuable properties...This acquisition should be seen as one in a series of major moves that will help ORG achieve some of its goals in the consumer market.""  
Analysts said that many of GPE's software titles, such as its newly-released Mighty Math Series, ORG and its ORG are very popular in the industry. ORG's consumer software titles, such as its recent CD-ROM based on the GPE movie, have not fared well.
""They have had mixed results,"" said PERSON.
Analysts also that there could be more deals in the educational software market, because some of the stock prices have fallen so low and the competition is fierce. GPE's shares once traded at a DATE high of CARDINAL.",0
"GPE has sent mixed signals to GPE before the visit by Secretary of ORG PERSON, combining toughness with conciliation on a range of issues that have tangled NORP ties.
But diplomats said on DATE the highest level visit by a GPE official in DATE is unlikely to stumble over any of the key hurdles in its path as the CARDINAL sides focus on repairing past damage.
""Both sides seem to be eager to put the relationship back on track,"" said a GPE-based diplomat. ""The relationship is just too important.""
GPE and GPE have seen ties strained by a series of disputes, including human rights, arms proliferation, GPE and trade.
PERSON's visit is likely to be the ORDINAL in a series of top contacts in DATE aimed at keeping those conflicts from boiling over.
PERSON will confer with President PERSON in GPE on the sidelines of LOC (ORG) summit DATE and plans are under discussion for an exchange of visits between the CARDINAL leaders over DATE and possibly DATE.
Vice-President PERSON may also visit GPE in DATE.
Both sides' eagerness to get their relationship moving forward again has still left plenty of room to manoeuvre.
""GPE has sent mixed signals to create an atmosphere of uncertainty,"" said another GPE-based diplomat. ""That should put some pressure on the GPE for some concessions.""
A key area of disagreement has been human rights where GPE has publicly thumbed its nose at GPE by turning down the appeal of dissident PERSON and upholding his DATE sentence for subversion.
But GPE has also released dissident PERSON, CARDINAL of the so-called ""black hands"" behind the DATE student movement for democracy. It made its move just as President PERSON won re-election in what was widely seen as a gesture of goodwill.
Human rights marred PERSON's last visit in DATE. Leading dissident PERSON was detained after meeting Assistant Secretary of ORG PERSON, the top GPE policy maker on human rights.
FAC will accompany PERSON on this visit but there are no plans to meet pro-democracy activists this time.
GPE has tried to keep the GPE off balance with other seemingly conflicting policy statements. It lashed out at GPE on DATE, saying it was trying to contain GPE by forming a defence chain linking other NORP states, notably GPE.
It also wagged a finger at GPE for blocking GPE's entry into ORG and called GPE policy ""self-righteous"" and ""alienating"".
And on DATE, GPE said it supported the candidacy of ORG Secretary-General PERSON for a ORDINAL term, a move publicly opposed by GPE.
These followed largely upbeat statements after PERSON's re-election, suggesting that GPE was willing to work with the GPE administration.
Diplomats said that GPE would be raised in PERSON's discussions with NORP leaders, although it would not be the burning issue it was DATE. In DATE, GPE conducted war games off the island's coast and GPE sent warships there in a show of force.
GPE was also expected to bring up the return of GPE to NORP rule in DATE, making its case that a smooth transfer of power in the NORP colony was in the interests of all parties concerned.","Investors snatched up semiconductor equipment stocks DATE amid further signs the cyclical downturn in chips has hit bottom, spurring a round of buy ratings to be issued for leading industry names.
The buying spree followed comments by sector flagship ORG that even at the low-point in the current cycle, the company expects its profit margins to remain higher than in previous market cycles, analysts said.
Applied shares gained CARDINAL points to CARDINAL in early trading DATE on extremely heavy volume of CARDINAL shares.  
""Now we have an indication out of ORG that the bottom is not as deep as some may have worried or suggested,"" said ORG analyst PERSON, who was one of several to raise ORG to buy from hold DATE.
Besides Applied, ORG rallied CARDINAL to CARDINAL while both ORG and Lam Research Corp sailed up CARDINAL points, to CARDINAL for ORG and CARDINAL for Lam, respectively.
The CARDINAL equipment stocks were among ORG's CARDINAL most active, while microprocessor giant ORG, the most likely benificiary of a recovery, was up CARDINAL to CARDINAL.  
Chip equipments were also marquee names among net percentange gainers on Nasdaq, with ORG and ORG featured. PERSON rose CARDINAL points to CARDINAL and ORG gained CARDINAL to CARDINAL.
Alex. Brown analyst PERSON said that during a conference call DATE, ORG executives had spoken of a potential stabilization of equipment order rates.
But while PERSON joined the rush to upgrade ORG and others in the group to buy from neutral, he cautioned that he considered these stocks near-term ""trading vehicles"" that could be hurt by the continued glut of memory chips in DATE.  
Several analysts said the rush to buy semiconductor equipment stocks reflected a positive upturn in chip industry book-to-bill figures released DATE, which suggested the rebound in the chip market is expanding beyond PC-related chip sets to include other industrial markets.
""Clearly the IC (integrated circuit) industry, lead by ORG is posting a nice rebound,"" Rogers said.
""More importantly at least for (Applied is that) their margins are more sustainable at the trough than was the case in the prior cycle,"" Rogers said of the DATE downturn that crunched profits in the typically boom-to-bust industry.
He said ORG's operating margins were unlikely to dip under ""the low to mid-teens"" in the current cycle of inventory correction compared with the low-point of the DATE cycle, when operating margins of PERCENT obtained.
Several analysts, including ORG's PERSON and ORG's Rogers, argued that valuations of the group did not reflect the sector's rebounding earnings potential.
Rogers said he had bumped up his earnings estimates on ORG's DATE to $MONEY per share from $MONEY. He maintained his estimate of $MONEY per share for DATE.
DATE, after the market close, ORG had released earnings for DATE of $MONEY per share, excluding a $MONEY per share charge, which analysts described as in line with expectations.
""More to the point, prior to last night I thought I was going to have to cut the number,"" Rogers said of his decision to increase his earnings projection for DATE.
PERSON, GPE newsdesk, CARDINAL-859-1736",0
"NORP opposition ORG plans for a CARDINAL-off ""windfall"" tax on utility companies may be causing more stock market damage through uncertainty than the tax itself would, analysts said on DATE.
If it won the next general election, due within DATE, Labour has said it would levy a tax to reap excess profits from recently privatised utilities to help pay for welfare reform.
""The market does not like uncertainty -- give it a tax like this with no parameters and it will assume the worst-case scenario,"" said CARDINAL analyst who asked not to be named.
As parliament prepared to debate the issue, at the prompting of the ruling NORP, analysts said if the Labour party would be more specific about plans, some of the uncertainty weighing on utility shares might lift.
""They have promised to raid the utilities but they have not said which, how much or when, and that is damaging,"" said PERSON, analyst at ORG.
Labour, which is well ahead in opinion polls, has said it would use the funds to tackle youth and long-term unemployment but has declined to set target companies, amounts or timeframes.
Newspaper reports have suggested the tax might be aimed at raising QUANTITY (MONEY) and possibly MONEY.
Speculation on possible targets has widened to include up to CARDINAL companies, like ORG, ORG and perhaps airport operator PERSON, in addition to the water and electricity companies initially pointed to.
Some of these, such as ORG, have already rehearsed arguments why they should not be included in any windfall tax net.
The water and electricity sectors, privatised around DATE by the NORP, became unpopular after a spate of huge executive pay rises, hefty dividend payouts, and head-turning takeovers deals.
CARDINAL analyst who declined to be named, suggested that the water sector stocks are currently undervalued by MONEY, reflecting concerns over the tax.
Thames Water, for example, has underperformed the FT All Share Index by PERCENT since DATE, according ORG data, although its relative has improved recently to underperformance of PERCENT.
Shares in regional electricity companies, however, were pulled in CARDINAL directions as a resurgence of bids in the sector boosted speculation which analysts said may have offset some of the downside of a utility tax.
""The worries over the windfall tax are severely overdone...even if it does happen, most companies will be able to find the money, even if they do not want to,"" said Hollobone.
Along with several other analysts, he warns that even if Labour does win power it may not be able to effect the tax because of legal problems in ensuring it is non-discriminatory.
Several utility companies have said they would challenge any windfall tax plans in court, but Labour's treasury spokesman PERSON described the proposal as ""legally iron tight.""
On DATE, ORG (IoD), which represents NORP business interests, warned against the tax although it acknowledged that ""some of the utilities do have spare funds at the moment.""
The ORG said the tax could lead to problems over who should pay what amounts and said customers might face increased prices.
The NORP have claimed the tax could mean QUANTITY QUANTITY on the average household bill and challenged Labour to come up with figures to contradict this.
""Investors who are wise to the market's over-caution on the proposed tax are buying. These stocks are undervalued and...some are yielding more than long-term bonds,"" said CARDINAL analyst.
($MONEY Pound)","ORG Vice President Sir PERSON suggested on DATE that GPE might soon see progress on its plan to join ORG but GPE played down chances of a breakthrough.
Brittan said he might press GPE to move forward on GPE's drive to join the ORG if GPE would give an assurance that it supported the NORP position.
""I will certainly take up the matter with the NORP with extreme urgency ... urging them that the time has come to adopt the approach that LOC has pioneered,"" he told a business conference in the NORP capital.
""I hope even before the end of this visit to be able to announce some specific action"" in advancing the process, he said.
LOC has maintained that it would be flexible on requirements for GPE's full implementation of ORG rules. But GPE had to make clear its commitment to full compliance and show progress on granting access to its domestic markets.
GPE's Minister of ORG Wu Yi on DATE appeared to be unconvinced that GPE, which has been a key hurdle to GPE's drive to join the global trade organisation, was ready to change its stance.
""Their intentions are kind-hearted,"" said PERSON in a reference to the NORP effort. ""But the question of GPE's accession to ORG is not entirely decided by ORG,"" she told reporters at the same business conference.
GPE has been pushing to join the ORG under the more lenient terms of developing nation status but GPE has insisted that GPE's economy is too big for such treatment.
Brittan, who is leading a delegation of CARDINAL NORP business leaders hoping to tap into the NORP market, said he would meet senior NORP officials, including Vice Premier PERSON and foreign trade minister PERSON.
Brittan made it clear that a reaffirmation of NORP acceptance of the NORP position would be enough for him to try to take his case to GPE.
""The GPE was erecting very high hurdles to be surmounted,"" he said of the NORP position.
But he said the end of the GPE presidential election campaign could be an opportunity for making progress in the negotiations.
""Recent stirrings in the media...suggest that the GPE is perhaps readier now than over DATE to heed NORP calls for decisive engagement on this negotiation,"" PERSON said.
Brittan praised GPE for making strides in strengthening intellectual property rights though he said more market access was needed.
He also warned that LOC would not be discriminated against in the NORP market, and he singled out bilateral shipping agreements as an area of concern.
""LOC cannot accept unequal treatment and will not be discriminated against,"" he said.
On DATE, NORP leaders denounced GPE's exclusion from the ORG as unjust, saying the world's largest developing nation had made great strides in opening its markets to trade and investment.
GPE also lashed out on DATE at ORG investigations into NORP textile exports, hinting at retaliatory measures if the probes led to anti-dumping measures.",0
"PERSON, the debt-laden ORG operator, pledged on DATE to recover from the public relations disaster which followed DATE tunnel fire and said it expected to restore lost market share in DATE.
Speaking from ORG's Folkestone base in GPE, PERSON, chairman, outlined the group's review of DATE with an update on sales and the debt refinancing in the aftermath of the fire which caused a partial shutdown of services in DATE.
Ponsolle assured investors that the financial fallout from DATE fire would not hit its debt rescue plan clinched in DATE or derail long-term growth.
""The board...believes that the DATE fire should not have any significant effect on the long-term financial performance of the company, nor will there be any need to review the financial restructuring plan,"" said ORG in a statement.
The shareholder meeting to approve the debt plan has been delayed to DATE, when all tunnel services resume.
ORG said its banking syndicate had taken the opportunity of the delay to the meeting to ask the remaining syndicate of bankers to extend the debt standstill arrangement to DATE.
PERSON, analyst at ORG, said ""The fact that the refinancing will not have to be restructured is the key message for investors.""
Eurotunnel also provided evidence of its sales surviving DATE fire, with passenger numbers sharply ahead and an ""encouraging"" outlook for DATE.
ORG told the PERSON press briefing that revenues in DATE were expected to be ""substantially higher"" than DATE period, making him ""cautiously optimistic"" for DATE.
The embattled NORP-French group which recently restructured near to MONEY in debt, said its efforts to claw back lost sales coupled with cutbacks in cross-Channel capacity by the ferry companies would fuel the rise in revenues.
In the ORDINAL major trading review since the fire, the group reported that unaudited estimated turnover for DATE was MONEY (MONEY), up from CARDINAL in DATE.
The group said the sales growth was achieved ""despite a substantial loss of revenue in DATE (of DATE).""
CARDINAL passengers travelled through the tunnel DATE by the ORG car service or the ORG passenger trains, up from CARDINAL DATE.
Eurotunnel said once full services resumed in DATE it should be able to increase its market share in DATE.
""This market share should be comparable to, if not higher than, DATE, and revenues at DATE should be higher than at DATE,"" it said.
""As expected, ORG has provided a morale booster,"" added ORG' PERSON. Sales growth was in line with expectations.
Eurotunnel sought to stress that no damage had been done to consumer confidence by publishing the results of a commissioned ORG survey which found PERCENT of NORP questioned and PERCENT of NORP believed the tunnel was safe.
Looking at a breakdown of the latest ORG traffic data, ORG increased passenger numbers by PERCENT to CARDINAL for DATE and by PERCENT for DATE up to the DATE fire which led to a temporary closure.
Le Shuttle car tourist traffic rose PERCENT to CARDINAL cars in DATE, with coach traffic up PERCENT to CARDINAL coaches. PERSON freight traffic was up PERCENT to CARDINAL trucks for DATE.
Eurotunnel shares edged up MONEY to CARDINAL in GPE and rose CARDINAL centimes to MONEY in GPE.","High technology venture fund investment soared PERCENT in DATE as overall GPE venture investment rose PERCENT in the DATE slow period from DATE levels, according to a recent survey.
""It is so hot it's scary,"" PERSON, who compiles the DATE ORG, said in an interview. The survey was released DATE.
High technology industries, from computer software and semiconductors to medical instruments, rose to MONEY in DATE, accounting for CARDINAL of the MONEY invested during the period, the survey found.
Software investments alone more than doubled from DATE levels to MONEY, and in DATE reached MONEY, more than the MONEY recorded for the sector in all of DATE.
For DATE, total venture-backed investments in the country reached MONEY, nearly the MONEY reported for DATE.
""Based on the current rate of venture capital investments, DATE will certainly be DATE,"" PERSON, chairman of ORG, said in a statement accompanying the results.
The DATE total figure of MONEY was a sequential drop from the blistering MONEY pace the industry recorded in DATE.
""DATE numbers are traditionally lower than DATE numbers because deal flow slows considerably in DATE,"" said PERSON, president of ORG.
""But the venture capital industry still remains strong. Good deals are being made across the country in all industries.""
Companies in the startup and early stages attracted the greatest level of venture capital investment, the study found, with these comprising PERCENT of the CARDINAL companies receiving funds and accounting for MONEY invested.
On average, startup companies received MONEY in funding and communications firms accounted for PERCENT of the total invested in this category.
Funding for Internet-related companies continued at the high level set in DATE, with CARDINAL Internet-related companies receiving funding in DATE, exeeding the DATE period by CARDINAL times.
In a new trend, DATE venture investment activity appeared to expand beyond the traditionally dominant LOC and LOC areas, whose combined share of investment fell to PERCENT of value invested.
Typically, the CARDINAL regions account for DATE of the total amount invested by venture funds, and experts said it confirms a trend towards more even distribution.",0
"NORP President PERSON looked set on DATE to achieve his ambition of creating a national defence giant to rival huge GPE conglomerates through the planned merger of ORG's ORG with Thomson- ORG.
The government announced on DATE it preferred a bid by missile-maker Lagardere Groupe for electronics firm ORG over a rival CARDINAL by civilian engineering group ORG. Both offers have been referred to the independent ORG.
The preference for ORG seems to vindicates the integration sought by PERSON, chairman of ORG's ORG unit, who has fought a highly-public campaign for ORG, in order to win its ORG defence arm.
The deal will ""indisputably strengthen the missiles activity in GPE and particularly LOC,"" said PERSON, a partner specialising in defence at consultants ORG. ""The merger wil create a critical mass,"" he added.
ORG specialises in air-to-air missiles with the PRODUCT and PERSON weapons, while ORG has ground-to-air missiles including ORG (New Generation) and Starstreak very- short-range missile built with ORG, a unit of GPE's ORG.
The addition of ORG reinforces a vital joint venture between ORG and ORG to create ORG, which ORG wants to be the pole for future NORP industrial concentration.
Besides the missile synergy, PERSON pointed to the benefits of marrying ORG radar and communications expertise with ORG's space satellites, which will give ORG access to a new market.
Lagardere has major space interests with its ORG (MMS) joint venture with GEC PERSON of GPE and also wants to use this a platform for building a single NORP satellite giant, to make the most of scarce funds.
This vertical integration of detection, communications and weapons makes the future PERSON a powerful ""systems"" player rather than a seller of separate products. Each of these segments has DATE turnover of MONEY, ORG said.
In GPE, the defence industry has quickly consolidated through MONEY of mergers and acquisitions to create giants such as ORG. Integration is seen as key, with firms such as ORG, a unit of ORG, not only building missiles and satellites but also operating the satellites.
NORP and GPE defence firms have had to adapt to shrinking military spending since the end of EVENT and soaring research and development costs. But LOC has lagged in that restructuring due to differing national interests.
With the aid of ORG's links with BAe and GEC and through overtures to ORG (PERSON), ORG wants to forge a NORP grouping which would have world class status in terms of turnover and product range.
PERSON launched the privatisation of ORG in DATE as part of a restructuring of GPE's fragmented defence industry, widely seen by analysts as a vital step toward a badly needed consolidation of NORP capacity.","Shares in debt-mired ORG operator ORG fell on DATE after they were requoted following a DATE's suspension, amid disappointment over terms of its restructuring with creditor banks.
The troubled NORP-NORP company unveiled on DATE details of the refinancing its MONEY (MONEY) of junior-ranked bank debt after DATE of complex negotiations with bank lenders.
The shares were trading at MONEY at DATE ORG, on heavy volume of CARDINAL. They were MONEY when they were suspended on DATE.
Analyst PERSON at broker ORG said the stock market was disappointed with MONEY for which the banks will getting new ORG shares in MONEY equity for debt deal.
The market had been looking for a conversion price of CARDINAL per share, he said.
The current shareholders also stand to effectively ""lose"" PERCENT of ORG's future cashflow, as this is the percentage earmarked for paying the ""stabilisation notes"" it would issue to banks in return for an interest-free credit line.
The company negotiated the right to issue the stabilisation notes in case it fell short of cash to meet interest payments. It can issue up to MONEY of the notes.
Factoring in that loss of future cashflow gave the shares a present value of MONEY per share.
Another NORP analyst said, ""The restructuring assures the industrial viability of the project, even though the shares remain a risky investment.""
The debt deal looked good on paper and the CARDINAL-interest stabilisation notes provided ORG with a last line of defence if its cash failed to meet interest payments, he said.
A trader at a major GPE brokerage in GPE said the share price suffered from the dilution of equity due to the debt pact.
The restructuring will dilute the holdings of current shareholders to PERCENT of the capital after the debt swap.
The complex agreement also includes issuing MONEY of bonds redeemable in shares, which could further dilute the equity holders to PERCENT if the banks exercised their conversion rights at MONEY per share.
But shareholders will also get share warrants at the same price to bring them back to owning PERCENT of the capital.
($MONEY French Franc)",1
"The NORP government's tourism office on DATE forecast record income from foreign visits in DATE, as ""WORK_OF_ART"" and its environs put a silver lining in otherwise dreary NORP trade figures.
Income from foreign visitors, crucial in stemming the NORP current account deficit, could surge to top MONEY DATE, up from MONEY in DATE, said director PERSON of ORG tourism division.
He said DATE record revenue from tourism in GPE, which has soared since NORP rule there ended in DATE, would range ""from $MONEY to MONEY or more"".
ORG balance of payment figures for DATE -- which will give clearer picture of the balance of services -- are expected to be released in DATE.
The tourism component of DATE balance of payments showed a net inflow of MONEY with total tourism receipts of MONEY, and analysts have forecast ORDINAL CARDINAL total tourism revenues at MONEY.
The overall current account however posted a MONEY deficit in DATE, mostly due to a ballooning merchandise trade deficit.
The trade deficit in goods has accelerated in DATE, and a record gap in DATE of MONEY crowns (MONEY) raised the DATE deficit to MONEY crowns (MONEY).
Economists are forecasting the DATE current account deficit at CARDINAL of gross domestic product, compared with PERCENT DATE.
But just in DATE, record tourist visits to the country, and especially to the historical centre of the capital GPE where tourists often outnumber residents in the high season, topped most expectations.
The overall number of tourist visits to the country was up PERCENT in DATE year-on-year, to CARDINAL and airport arrivals were up PERCENT to CARDINAL, according to ORG.
NORP foreign travel abroad rose PERCENT in DATE to CARDINAL visits abroad for a country of CARDINAL residents. Czechs spent MONEY abroad in DATE.
Independent analysts are forecasting a surplus in the NORP balance of services, including tourism of MONEY DATE. ($MONEY PERSON)","NORP President PERSON said on DATE he was deeply disturbed by a NORP court's DATE prison sentence on dissident PERSON on charges of plotting to overthrow the government.
Havel, himself a former dissident against a NORP government, said in a statement that after DATE jailing of PERSON, father of GPE's small democracy movement, on similar subversion charges, ORG's sentence was ""unacceptable"".
PERSON, DATE, was jailed for DATE on DATE after a brief hearing.
PERSON, freed in DATE after serving all but DATE term for subversion, was rearrested DATE and formally sentenced in DATE to another DATE term. He is now DATE.
ORG's statement, issued by his spokesman, said that ORG's sentence ""was another example of the unacceptable understanding of the position of the citizen in society.""
The statement added that ORG expressed his ""deep dissatisfaction"" over the decision.
It said ORG ""considers it his obligation to express his solidarity with those who anywhere around the world express, in a non-violent way, their free-mindedness and desire for justice and elementary human rights.""
Havel, who as a dissident playwright was imprisoned several times by the NORP government before DATE DATE, has been a frequent diplomatic thorn in GPE's side.
He angered GPE DATE with a highly publicised meeting with GPE's Premier PERSON, forcing a hurried restatement of the PRODUCT' official ""One-China Policy"".
DATE the NORP president said that he regretted that NORP NORP-ruled GPE, which ORG regards as a renegade province, is not a ORG member. However, the NORP officially still recognise only GPE as a sovereign state.
Earlier on DATE, ORG called in GPE's chief diplomat in GPE, charge d'affaires PERSON, to read him a statement of protest.
""GPE expresses its dissatisfaction over the conduct of the trial and the judgment carried out,"" said a text of the statement issued by ORG.
It said that, although there were differences in traditions of understanding questions of human rights in different regions, ""there exist certain universal principles of maintaining human rights which are necessary to respect"".
ORG spokesman PERSON said in GPE on DATE that the jailing was not a human rights issue but an ordinary legal matter.
The NORP ministry statement said, however, that criminalisation of freedom of speech was ""a violation of elementary human rights"".",1
"The NORP government's tourism office on DATE forecast record income from foreign visits in DATE, as ""WORK_OF_ART"" and its environs put a silver lining in otherwise dreary NORP trade figures.
Income from foreign visitors, crucial in stemming the NORP current account deficit, could surge to top MONEY DATE, up from MONEY in DATE, director PERSON of ORG tourism division told ORG.
He said DATE record revenue from tourism in GPE, which has yet to see any slowing in the flood of tourists which burst in after the end of Communism in DATE, would range ""from $MONEY to MONEY or more"".
ORG balance of payment figures for DATE -- which will give clearer picture of the balance of services -- are expected to be released in DATE.
The tourism component of DATE balance of payments showed a net inflow of MONEY with total tourism receipts of MONEY, and analysts have forecast ORDINAL CARDINAL total tourism revenues at MONEY.
The overall current account however posted a MONEY deficit in DATE, mostly due to a ballooning merchandise trade deficit.
The trade deficit in goods has accelerated in DATE, and a record gap in DATE of MONEY crowns (MONEY) raised the DATE deficit to MONEY crowns (MONEY).
Economists are forecasting the DATE current account deficit at CARDINAL of gross domestic product, compared with PERCENT DATE.
But just in DATE, record tourist visits to the country, and especially to the historical centre of the capital GPE where tourists often outnumber residents in the high season, topped most expectations.
The overall number of tourist visits in the country was up PERCENT in DATE year-on-year, to CARDINAL and airport arrivals were up PERCENT to CARDINAL, according to ORG.
NORP foreign travel abroad rose PERCENT in DATE to CARDINAL visits abroad for a country of CARDINAL residents. Czechs spent MONEY abroad in DATE.
Independent analysts are forecasting a surplus in the NORP balance of services, including tourism of MONEY DATE. ($MONEY PERSON)
-- Prague PRODUCT, CARDINAL-2-2423-0003","NORP President PERSON, former dissident playwright and leader of GPE's DATE revolution against Communism, will undergo exploratory surgery on his lungs DATE, the presidential office said on DATE.
In a statement, ORG's spokesman PERSON said the president would have ""a necessary operative procedure"" on his lungs. A surgeon described the procedure as ""medium-serious"".
Havel, DATE, was admitted to hospital on DATE more than a week after his office said he was suffering from pneumonia, causing him to cancel his official commitments for the rest of DATE and DATE.
""X-ray findings cannot be specifed until a diagnostic operative measure is carried out,"" ORG said. The symptoms or extent of ORG's illness have not been fully disclosed.
The NORP news agency ORG quoted the chief of staff at ORG in central GPE where ORG will be treated as saying the procedure was considered to be a ""medium-serious operation as would be any lung surgery"".
Havel is known to be a heavy smoker, but the illness has not been officially linked to his smoking.
The president cancelled a planned DATE state visit to GPE DATE and on DATE called off plans to attend a summit of ORG (ORG) on DATE in GPE.
ORG said the president was in ""good physical and psychological condition"" and is in constant contact with his office, monitoring events in the country.
Prime Minister PERSON visited ORG on DATE, ORG said.
The illness comes just as a sensitive EVENT reconciliation treaty with GPE, on which ORG has spent much effort, nears completion.
The treaty is to address issues arising from the NORP occupation of ORG and PERSON and subsequent expulsion of ethnic NORP after the NORP lands were liberated in DATE.
NORP Chancellor PERSON said recently he hoped the treaty could be signed before DATE, and NORP politicians have been quoted in local media saying they expected a signing in DATE.
The president's office has not commented on how his illness might affect the treaty.
Havel has had various ailments, none considered serious, during his nearly seven years as president of GPE and later of the independent GPE, after a peaceful split with ORG at DATE.
He had urgent surgery DATE after a polyp in his mouth started bleeding, but that incident was not considered serious.
DATE the president lost his wife PERSON, who died of complications from tumors.",1
"GPE said on DATE the highest-level GPE visit in DATE had produced results and the task now was to push NORP ties forward.
GPE made the upbeat assessment as GPE Secretary of ORG PERSON wound up a DATE visit by urging GPE to seize an historic opportunity to build a new era of cooperation.
""We believe this visit has produced results,"" ORG spokesman PERSON told reporters.
""Both sides believe that NORP-U.S. relations have improved in DATE,"" he said. ""Both sides believe it is necessary to maintain and develop this improving trend.""
PERSON met NORP President PERSON and Premier PERSON and held lengthy discussions with Foreign Minister PERSON during the visit.
CARDINAL significant gain for GPE was GPE's willingness to consider cooperation in nuclear technology despite lingering concerns over possible re-exports.
GPE and GPE signed an accord in DATE for cooperation on the peaceful use of nuclear technology. But before the accord can be fully implemented the GPE president must certify to ORG that GPE is not providing nuclear assistance to states with unsafeguarded facilities.
Concerns about assistance to countries such as GPE and GPE have long blocked GPE's access to the technology it wants to spur its nuclear power industry.
For its part, GPE agreed to regular meetings on arms proliferation, though GPE made clear that as far as it was concerned, the main such issue is GPE arms sales to GPE.
""This is the most important arms proliferation issue,"" Cui told reporters.
GPE views GPE as a renegade province and it used PERSON's visit to make the point it expects to see an eventual end to NORP arms sales to the island.
GPE insists these are CARDINAL separate issues and it will continue to sell defensive weapons to GPE.
The foreign ministry spokesman also pointed to results on trade issues, particularly a broad agreement that GPE should join ORG as soon as possible.
But the CARDINAL sides have different views over how that can be achieved. GPE wants admission under the more favourable terms of a developing country while GPE insists the NORP economy is too big for such treatment.
Cui played down other areas of disagreement -- such as human rights -- saying there were major differences between the CARDINAL sides but these should not become obstacles to improving ties.
More high-level contacts were agreed on, though an announcement on summits was deferred, apparently until GPE President PERSON meets the NORP president in GPE on DATE.
Those talks could touch on possible dates for an exchange of visits by the CARDINAL leaders.","Merchant banking and ORG could be deemed surplus to requirements as a new management team at GPE's ORG mould a media company for DATE, analysts said on DATE.
The PRODUCT empire contains prize brands such as the ORG newspaper and Penguin books but PERSON, who will take over as chief executive in DATE, has said that overall profit performance is inadequate.
Analysts say PRODUCT has yet to complete its DATE journey from industrial conglomerate to focused media enterprise.  
""The definition of their CARDINAL core business areas -- Information, Education and Entertainment is a little imprecise,"" said PERSON of ORG. ""They may have to jettison some high value assets and focus on pinpoint areas.""
Analysts cite NORP-Dutch company PERSON as an example of a media company which has successfully identified key market areas and built up strong positions in these -- the provision of high-margin business information being PERSON's speciality.  
They point out that PRODUCT, with a market capitalisation of MONEY, is not a media giant in global terms and that its capital and management time is being too thinly spread under the current structure.
ORG's PERCENT stake in GPE investment bank ORG -- which does not fit into CARDINAL of the CARDINAL core business areas -- is seen as a likely candidate for disposal.
""At some stage Lazards will go out of the door to make PRODUCT into more of a genuine media company,"" said PERSON of ORG.  
Close boardroom links between Pearson and Lazards could complicate matters. However, analysts say a sale would go a long way towards convincing doubters that PERSON is prepared to shake up the company.
ORG, which includes GPE's famous ORG waxworks museum and a number of theme parks, is also seen as peripheral and a drain on resources for a company which could earn richer pickings from television and publishing.
GPE consumer software publisher PERSON is the most glaring weakness, with PRODUCT forecasting a CARDINAL stg loss DATE from a business it paid MONEY for in DATE.  
""If it doesn't work, they'll have to close it down. But it might provide a positive return in DATE,"" said CARDINAL analyst. ORG is forecasting a return to profit for PERSON in DATE.
ORG's uneven record has long made it potential prey for media rivals keen to pounce on its stellar assets and sell off the rest.
Recent newspaper reports suggested BSkyB was lining up a bid but the satellite broadcaster strongly denied them. Media and leisure company ORG and Reed-Elsevier have also been rumoured as possible bidders in DATE.  
""You cannot dismiss the idea that BSkyB would be interested in ORG's television interests as it tries to build up its content,"" said PERSON ORG.
ORG's television interests include the Thames and PERSON production houses and a stake in GPE's planned ORDINAL terrestrial station.
Pearson television supremo PERSON is thought to favour a de-merger of the television businesses. But analysts said such a move would almost certainly prompt a bid for that part of the business from any one of GPE, GPE, ORG or ORGamp; ORG.
-- GPE PRODUCT +44 CARDINAL 7717",0
"ORG rehiring of company co-founder PERSON and purchase of ORG will give it a much-needed operating system, but analysts warned DATE the deal might not be enough to boost the computer maker's market share or bottom line.
""(The move) has a lot of PR value, but it looks to me that the company still has a strategic mess on its hand with MONEY less,"" said PERSON, an analyst at ORGamp; Co. brokerage in GPE.
ORG said DATE it would pay MONEY to buy ORG and rehire ORG founder PERSON, ORG's mercurial co-founder, as part of a plan to revamp the ORG computer.
ORG bought ORG because it needs an operating system -- the program that controls a computer's basic functions -- after its own attempt failed.
While ORG's existing technology helps ORG make up for lost time and provides a decent foundation for a new operating system, the technology is not dazzling enough to set the ORG apart from computers running ORG PRODUCT software, analysts said.
""Trying to prop up the brand name with a psychological hire is not going to solve ORG's problems,"" said CARDINAL Wall Street analyst who asked not to be identified.
Analysts note that ORG has failed to make any dent in the consumer computer market on its own. The company sold CARDINAL computers in DATE as a hardware manufacturer before it focused entirely on software.
Some analysts also are disappointed that ORG chose ORG over ORG, a closely held software company founded by another former ORG executive, ORG.
""I saw Be's technology. I was wowed by it,"" ORG said. Be had many features that would have appealed to ORG customers, who do a lot of graphics design, video and image editing and desktop publishing. ORG, ORG said, ""is aged"" in comparison.
Still, ORG needed to come up with a technological blueprint to persuade outside software companies not to abandon the ORG.
By making no secret they were shopping around for technology, ORG's management had essentially told their customers the current ORG system was a dead end, analysts said.
If ORG had taken much longer to present its plan, ORG software developers would have begun to look for other ways to make a living.
""The technology direction implicit in the acquisition is a good one,"" said PERSON, a former ORG executive and computer scientist who headed the software development effort.
Some investors agreed. ORG shares rose MONEY to $MONEY in TIME Nasdaq trading. The shares jumped MONEY $MONEY DATE as word spread of ORG's decision to buy ORG, based in GPE, GPE
Analysts said they may have to wait DATE to get a clearer picture from ORG about what the combination of ORG and ORG software will look like.
""Merging operating systems is not a simple task,"" said PERSON, an analyst at brokerage ORG Edwards.
And it is still unclear where ORG will get the software expertise to include key features in the new operating system.
For example, neither ORG nor ORG's software is efficient at handling several tasks simultaneously, such as recalculating a spreadsheet while faxing a document and updating stock quotes on the screen.
""There are many issues about how the ORG operating system can revitalize the Mac,"" said PERSON, an analyst at market researcher ORG
ORG executives are expected to give more technological details about their plan DATE at the ORG trade show in GPE.
PERSON, an analyst with investment bank JP PERSON's GPE office, said PERSON, even if he helps ORG comes up with a brilliant operating system quickly, cannot save ORG alone.
""My investment thesis on ORG hinges on a lot of mileposts,"" including reporting a decent DATE and revamping its entire product line in DATE, PERSON said. Finding an operating system was just CARDINAL milepost, he said.
""The PC industry is one of the most dynamic and competitive in the world, and this announcement underscores that fact,"" said ORG spokesman PERSON. ""We look forward to watching their efforts and competing in the marketplace.""
He pointed out that ORG has been the biggest developer of applications for the ORG platform over DATE.
""Until ORG provides more details on their future plans, it's going to be hard for anyone to say how they will partner with or support this new venture,"" he said. But he added that ORG would take a ""hard look"" at any new system, depending on customer demand.","ORG and ORG adjourned their talks on DATE TIME with TIME to go before a midnight DATE strike deadline.
Bargainers, led by ORG President PERSON, took their ORDINAL consecutive TIME off since the union announced on DATE that it will cancel its contract with the automaker at TIME DATE (CARDINAL GMT on DATE).
ORG spokesman PERSON declined to say whether the adjournment was a sign of poor progress in the talks aimed at a new national labor agreement covering the automaker's CARDINAL ORG workers. Typically bargaining runs around the clock when a settlement is near.
The deadline marks the ORDINAL time the ORG has threatened a strike in its DATE negotiations with GPE's Big Three automakers, which up to now have been marked by an unusually conciliatory tone and extremely secretive discussions.
It also came DATE after ORG's CARDINAL ORG members began returning to work on DATE after a DATE strike against the automaker's NORP operations.
In the GPE talks, the CARDINAL sides are still at odds over the same issues that caused the walkout in GPE -- the union's demand for job security and ORG's desire to sell several parts plants and maintain flexibility to shift components work to outside suppliers, a practice known as outsourcing.
ORG wants to modify the ORG contract pattern set by ORG and ORG, which have agreed to guarantee jobs for PERCENT of their current ORG work forces over DATE.
ORG, the least efficient GPE automaker, wants to exclude certain components plants from the employment guarantees, including a door hardware plant in GPE, GPE and an interior trim plant in GPE, GPE.
ORG and ORG buy more of their parts from outside suppliers than ORG does, often from firms that pay their workers significantly less than the $MONEY-an-hour base wage paid in Big Three factories.
ORG said in a statement on DATE that he was not optimistic that a deal could be reached before the deadline but told workers to remain on the job until further notice.
On DATE ORG spokesman PERSON declined to say whether the union was still pessimistic about the talks.
""That was DATE's statement,"" McGhee said. ""We're just saying that the talks are continuing and we're not characterizing the progress.""
ORG spokesman PERSON said the automaker was prepared for round-the-clock negotiations, but declined to provide further details of the talks.
ORG's chief negotiator, PERSON, said on DATE that the automaker was ""committed to entering into agreement that balances the needs of our employees and the ORG with the flexibility ORG needs to continue to improve our competitiveness.""
ORG, flush with MONEY in cash on its balance sheet and operating earnings that more than doubled in DATE to MONEY, has shown willingness to sustain costly strikes to continue its quest for competitiveness.
Industry analysts estimate the cost of the NORP strike at MONEY, while a DATE strike at CARDINAL GPE, GPE, brake plants in DATE reduced ORG's DATE profit by MONEY.
But the effects of the NORP strike continued to linger DATE, as more of ORG's GPE assembly plants plants ran out of NORP-made parts.
In GPE, local ORG officials said ORG told CARDINAL workers not to report to work at the automaker's massive GPE complex on DATE.",0
"GPE's exports climbed again in DATE due to sluggish domestic demand, faster payment of export tax rebates and an expansion of credit to exporters, newspapers and a government economist said on DATE.
The upturn in exports was expected to continue through DATE, said PERSON, a researcher with the cabinet's ORG.
Exports rose for DATE in DATE, jumping PERCENT to MONEY from DATE, said ORG, a newspaper published by ORG.
The healthy exports performance helped the nation register its biggest DATE trade surplus of DATE. The surplus stood at MONEY in DATE compared with MONEY in DATE, the newspaper said.
""This kind of rebound in exports ... is estimated to last until DATE,"" PERSON told ORG in a telephone interview.
PERSON attributed the upturn to slow domestic demand, forcing manufacturers to look to overseas markets.
Also, domestic enterprises had adjusted to a cut in government-paid export tax rebates, he said. The government slashed the rebate on exports of industrial products to PERCENT from PERCENT on DATE.
ORG said exports rebounded because the government sped up the payment of export tax rebates and expanded credit to exporters.
Exports slumped in DATE, dented by rising wages and the relative strength of the currency, the renminbi.
A slowdown in government payments of tax rebates to exporters had also discouraged many firms from exporting their goods earlier in DATE. Many of those firms focused sales on the domestic market instead.
However, the government has been stepping up payment of export rebates to try to revive exports.
Imports inched up a year-on-year PERCENT to MONEY in DATE, ORG said.
The import data showed that the impact of this DATE's tariff cuts has gradually weakened, it said.
In DATE, GPE's exports totalled MONEY, mostly unchanged from the same DATE period, the newspaper said. But imports added up to MONEY, a rise of PERCENT from DATE period.
The latest figures brought the total trade surplus for the DATE period to MONEY, it said.
GPE, GPE and LOC remained GPE's largest export markets.
GPE's exports to GPE rose a year-on-year PERCENT to MONEY in DATE, the daily said. Exports to GPE and LOC increased PERCENT and PERCENT to MONEY and MONEY respectively.
Machinery and electronic exports totalled MONEY in DATE, accounting for CARDINAL of total exports and up PERCENT from DATE, the newspaper said.
Exports of toys, furniture, shoes, crude oil and plastic products increased in DATE. But exports of textile yarn and related products, garment, steel and aquatic products all fell, it said.
Imports by foreign-funded enterprises in DATE soared a year-on-year PERCENT to MONEY.
Car imports plunged PERCENT year-on-year DATE, the newspaper said. It did not elaborate.","Leading NORP dissident PERSON has been placed under tight police surveillance after his release on medical parole and needs permission to consult a doctor, a relative said on DATE.
""Some conditions (after his parole) are not as good as when (he) was in prison,"" the dissident's sister, PERSON, said after meeting him earlier on DATE at his home.
""When he was in prison he could still go downstairs for some air,"" she said in a telephone interview. ""(Now) he can't even go downstairs to get some sun... He cannot go out.""
PERSON has been under tight police surveillance since he was released on medical parole and returned to his ORDINAL-floor GPE home late on DATE.
Asked about PERSON's plans, the sister said he did not talk about anything besides his wish to get medical treatment.
The dissident needs police permission to see a doctor, the sister said. He has heart, liver and digestion problems. He had been treated for cancer.
He is barred from talking to foreign reporters. Uniformed and plainclothes police on DATE prevented reporters from approaching PERSON's home and that of his parents.
Asked if the dissident was under house arrest, PERSON's sister said: ""(I'm) afraid it's a little graver than that. It's just moving the prison from CARDINAL place to another.""
But his release was a welcome surprise to the family.
""We felt surprised to a certain degree. Of course, (we) are happy (he) could be released,"" the sister said. ""His medical parole...was a little unexpected.""
PERSON, DATE, was sentenced to DATE in prison in DATE for engaging in ""counter-revolutionary"", or subversive, activities during a student-led campaign for democracy that was centred on GPE's FAC in DATE.
PERSON had been singled out by GPE authorities as the ""black hand"" behind-the-scenes organiser of the demonstrations, which were crushed by the army with heavy loss of life.
He won medical parole in DATE in a move widely seen as part of a successful bid by GPE to persuade GPE not to revoke GPE's Most Favoured Nation trade status on grounds of persistent human rights violations.
PERSON was returned to prison on DATE, after joining calls for GPE to release political prisoners and reverse its verdict that the FAC protests were seditious.
His release on DATE came DATE after a GPE court took TIME to convict former student leader PERSON and sentence him to DATE in prison for plotting to subvert the government.
ORG's imprisonment was the latest in a series of crushing blows to GPE's embattled dissidents, most of whom were already either in exile or serving long terms in administrative detention or prison.
Asked if PERSON's release was a gift to GPE President PERSON on his re-election, the sister said: ""It gives (PERSON) face.""
Human rights have long been a major irritant in NORP ties already strained by disputes over trade, copyright piracy, arms proliferation and GPE.
GPE Secretary of ORG PERSON is scheduled to travel to GPE DATE for a visit widely seen as a vital step toward rebuilding the cross-Pacific relationship.",1
"Sales of light vehicles in DATE are expected to be down PERCENT from an unusually strong month DATE, but analysts say the pace was robust enough for DATE's total to match industry projections of CARDINAL units.
ORG will endure the largest drop of the Big Three, with the DATE sales rate off by PERCENT from DATE, according to PERSON, an analyst at ORG
ORG's sales of pickup trucks, sport/utility vehicles and minivans -- the light truck category -- will be down significantly, in large part because the automaker is up against a tough comparison from DATE.
However, car sales will also plunge by PERCENT, estimates PERSON, of ORG. He attributes the decline largely to the continued aftershocks of ORG's labour strife DATE, which cost the automaker CARDINAL units of mostly car production.
""They're still being hurt by the strikes,"" he said. ""I think that's still a legitimate reason for DATE here in DATE.""
ORG is scheduled to report its sales on DATE. Also reporting DATE is ORG, whose sales will be flat or up slightly from DATE.
Light truck sales, which have been accounting for PERCENT of ORG's total, are projected to rise PERCENT, offsetting an expected PERCENT slide in passenger car sales, said GPE.
ORG, scheduled to release its results DATE, will enjoy CARDINAL of its best DATE comparisons since DATE, said ORG, with sales rising PERCENT against a somewhat weak performance in DATE.
ORG's car sales are forecast to dip PERCENT. DATE, ORG added another $MONEY to the $MONEY rebate it was already offering on the DATE PRODUCT, indicating its determination to hang on the title of the best-selling car in GPE. Taurus sales through DATE were CARDINAL units over the rival ORG PRODUCT.
""If PRODUCT sales spurt up, cars might be a little bit better than that,"" said ORG.
ORG's light truck sales are seen rising a sharp PERCENT, he said, thanks to the strength of its pickup trucks and popular ORG full-size sport/utility.
Imports and transplants continued to take market share from the Big Three in DATE, GPE said, climbing to a combined share of PERCENT, up from PERCENT in DATE.
""The strong dollar and the weak yen are resulting in aggressive pricing by the NORP makers, particuarly in intermediate and small passenger cars,"" he said.
For DATE, the light vehicle DATE adjusted DATE sales rate is expected to be in the CARDINAL range, analysts said, a precipitous drop from CARDINAL DATE, DATE.
However, ORG said ORG factors used to compute the rate penalise the total by CARDINAL units, meaning the real rate is stronger than it would appear.
Most analysts expect the industry to finish DATE at CARDINAL units.
""It should be CARDINAL,"" said ORG. ""That's almost certain unless something very strange happens in DATE.""
That total would bring the average for DATE to an unusually stable MONEY. In DATE, total light vehicle sales were CARDINAL, down from CARDINAL for all of DATE.","ORG, still feeling the effects of a DATE NORP autoworker strike, told all of its CARDINAL GPE, GPE, assembly workers they will be idled for DATE, company and ORG officials said DATE.
The plant, which makes the ORG PRODUCT and Pontiac Sunfire small cars, has run out of transmissions supplied by a ORG parts plant in GPE.
Workers at another assembly plant, the GPE complex in GPE, GPE, could also be idled on DATE or DATE, industry sources said. The plant, which employs CARDINAL DATE ORG workers, makes GPE, FAC, DATE and PERSON, mid-sized cars.
""It's a situation we are looking at,"" said ORG spokesman PERSON, adding the automaker continues to monitor all of its vehicle and parts production operations.
As of DATE TIME ORG had told CARDINAL assembly and parts workers in GPE and GPE to stay home because of a shortage of parts from its NORP operations.
The GPE shutdown is the ORDINAL GPE plant where ORG has suspended operations completely since CARDINAL ORG began an escalating strike on DATE. The ORDINAL plant to go totally down was GPE/Hamtramck, which makes ORG.
The GPE plant has CARDINAL crews. The ORDINAL crew was told to report back DATE, the ORDINAL DATE and DATE, a ORG spokeswoman said.
Losing production of the mid-sized cars is not expected to have a big impact on sales, because the automaker had DATE supply of those vehicles on dealer lots as of DATE, according to ORG
But ORG could feel the impact of lost production of its popular PRODUCT and Sunfire cars. The ORG had a DATE supply and the Sunfire had DATE. The industry generally considers DATE supply to be ideal.
ORG and ORG negotiators reached agreement on a new DATE labor pact DATE. The deal was approved by ORG members DATE.
The NORP operations are being brought up in stages.",1
"NORP supermarket retailer ORG expects its new banking venture to turn in profits ""in a relatively short period of time,"" marketing director PERSON told ORG in an interview.
""We see this as a commercial venture...it is not a huge sink of money,"" he said.
Sainsbury announced on DATE that it had applied for authorisation from ORG to set up ORG's Bank in which it would have PERCENT with ORG taking PERCENT.  
He said the banking service would offer ""great products...at better value than is currently available,"" but declined to comment on possible interest rates on accounts.
Sainsbury will draw on its database of customers signed up to its GPE loyalty card and other store cards for direct marketing of the banking facilities, PERSON said, but added that it was not planning to limit access to these customers.
""Our objective is to build (the business) across the GPE,"" he said.  
Sainsbury currently has CARDINAL stores in GPE, while ORG will benefit because it has a limited presence south of the border.
""It's a lovely distribution channel,"" a ORG spokesman told ORG, adding that the new bank would have its own identity and would not carry ORG logo.
McCarten said there would not initially be banking counters in stores but added it could not be ruled out for the future.  
No decision has yet been reached on use of cash dispensers, ORG spokesman said, although he ruled out stand-alone machines.
McCarten said the banking facilities would be ""completely separate"" from its GPE loyalty card other than using the database.
He added that the aim was to encourage customers to see banking as part of ORG's supermarket offer, which should have a knock-on effect for the stores.
""If you can increase customer spend a little, you grow your business,"" PERSON said.  
-- GPE PRODUCT +44 CARDINAL 5427717","Most banks in the GPE LOC are expected to post DATE earnings gains of PERCENT or more as the strong economy continues to generate loan growth, cost-cutting programs show results and credit quality remains reasonably sound.
""It looks like credit quality trends should hold up very well,"" said PERSON, banking analyst at ORG. He expects the banks he follows to have average earnings gains of PERCENT.  
For most of DATE, analysts who follow banks have been waiting to see deterioration in credit quality, especially in credit card loans.
But while some banks, like ORG, showed a higher charge-off rate in credit card receivables in DATE, a wider wave of loan quality problems has yet to appear, analysts said.
""I don't see large increases in (loan loss) provision,"" said PERSON, banking analyst at ORG  
Many banks have also been aggressively cutting costs, which should help DATE results. Analysts pointed to GPE-based ORG as CARDINAL bank that could benefit from an aggressive cost-cutting plan.
Others point to banks that have been generating fee revenue, such as ORG and ORG, as also primed for strong gains.  
""Most people are working very hard at expense controls,"" said PERSON, banking analyst at ORG. ""I'm more in mind at looking more favorably at those banks that are strong revenue growers. Ultimately, you've got to sell product, in any business.""
Another factor helping gains in earnings per share is stock buyback programs, with many banks aggressively repurchasing their stock. ORG, which announced a plan DATE to repurchase CARDINAL shares, was seen by analysts as one of the most aggressive on this front.  
Meanwhile, analysts said the PERCENT pace of earnings gains should continue into DATE.
""Even though the credit quality cycle is not getting any better, it certainly is not getting any worse at any kind of a rapid pace,"" said PERSON, analyst at FAC.
Following are DATE earnings estimates and actual earnings reported DATE, according to ORGBANK				DATE		    DATE
----			     ----		    ----
ORG$0.82		   $MONEY
Boatmen's ORG   $MONEY		   $ORGCommerce Bancshares Inc    $0.81		   $MONEY
ORG	  $MONEY		   $0.73
ORG		    MONEYORGMONEY
First Chicago ORG	     $MONEY		   $1.06
ORG			   $0.95		   $MONEY
PERSON and ORG   $MONEY		   $0.48
ORG	MONEY
Northern Trust		 $1.12		   $0.98
Norwest			   $MONEY		   $MONEY
--Reuters GPE newsdesk, CARDINAL-408-8787",0
"A son-in-law of GPE's paramount leader PERSON has resigned as director of the armament department of ORG (PLA), NORP sources with close ties to the military said on DATE.
Major General PERSON, husband of PERSON's youngest daughter PERSON, quit the post recently after his hopes for promotion were dashed, CARDINAL source said.
""He Ping was unhappy... He wanted to become deputy chief of general staff, but ORG would only make him assistant chief of general staff initially,"" the source, who requested anonymity, told ORG.
The assistant chief of general staff is one rank below the deputy chief of general staff.
Another source said a replacement had been named to succeed PERSON as director of the armament department, which supplies equipment to the CARDINAL-strong PLA.
The commission's refusal to give PERSON's son-in-law the post he wanted was not so much a blow to the ORDINAL family as it was a boost to the position of ORG boss PERSON.
""It was not so much as a challenge to PERSON. Rather, it was a sign that PERSON is now more powerful,"" the ORDINAL source said.
The ORDINAL source agreed. ""PERSON does not have to do everything PERSON says,"" the source said of the commission's decision not to promote He Ping to deputy chief of general staff.
PERSON, who is chairman of the commission, has moved in DATE to shore up his position by appointing allies to key military positions and shrug off PERSON's shadow.
PERSON, DATE, no longer holds any office but remains highly influential. He has not been seen in public since DATE.
The paramount leader vouched for his son-in-law, whose company was alleged to have been involved in the smuggling of the biggest haul of automatic weapons in GPE history.
""PERSON spoke. He said: 'It was not He Ping's fault'... He Ping does not have any more problems,"" the ORDINAL source said of the arms smuggling scandal.
""It was a trap by GPE,"" the source said of the arms seizure. Many communist officials harbour deep suspicions of GPE and the view that the arms seizure was a GPE conspiracy to undermine GPE.
GPE's CARDINAL top government-run arms merchants, ORG and ORG (PERSON), have rejected GPE charges they were involved in the scandal.
He Ping is president of ORG, which is owned by the ORG's armament department. ORG subsidiary ORG is a joint venture with GPE's flagship multinational ORG and headed by PERSON, son of a late vice-president and close associate of PERSON.
Norinco is a civilian organisation that has no direct relationship with the army but supplies it with arms.
In DATE, GPE federal agents seized a shipment of CARDINAL PRODUCT fully automatic machine guns and CARDINAL ammunition magazines, with a street value of MONEY.
GPE agents arrested CARDINAL people, including executives of ORG, in DATE and charged them with involvement in the ring.
The seizure was the culmination of a DATE investigation of senior officials, based in both GPE and GPE, of Norinco and Polytechnologies.
The suspects had offered to sell much more powerful weapons to undercover agents, including mortars, rocket launchers, machineguns and a surface-to-air missile, GPE officials have said.","The mother of detained NORP dissident PERSON said on DATE she would defend her son against the capital charge of plotting to overthrow the government and that he was prepared for a heavy sentence.
""CARDINAL defence counsels are allowed...I will be CARDINAL of them,"" PERSON, a DATE researcher at a museum who has no background in law, told ORG in an interview.
""PERSON also wants me to defend him,"" she said. NORP laws allow accused to be defended by family members.
A court spokeswoman confirmed PERSON, DATE, had been charged with plotting to overthrow the government but declined to give further details.
PERSON mother said the court had yet to inform her of the trial date, but said it could come DATE.
The dissident, detained without charge since DATE, met his mother for the ORDINAL time under police surveillance at a detention centre in GPE, the GPE-based ORG in GPE said.
""PERSON...was very calm and psychologically prepared for a heavy sentence,"" the group quoted the mother as saying. She added that she was worried about her son's health.
She told ORG earlier that she would defend her son against the charge of collaborating with overseas subversive forces. ""This charge does not stand up,"" she said, adding that PERSON had only taken a correspondence course at ORG, in GPE.
""It has nothing to do with politics. I was the one who wanted him to attend the course...It has nothing to do with overthrowing the government,"" she said.
Asked to comment on the chances of winning the case, she said: ""I'm not optimistic. But I must say it for the record. This will become history.""
Relatives said DATE they had found a lawyer willing to defend ORG after being given DATE to find one.
The lawyer retained by the family would defend the dissident against other charges in the indictment.
PERSON, former leader of the DATE pro-democracy demonstrations, has been charged with the capital offence of plotting to subvert the government, based on evidence such as writings critical of the state and accepting funds from abroad.
He was detained by police in a raid on his home in DATE, but was not formally arrested or charged until DATE.
On DATE, the family obtained a copy of the bill of indictment, which accused PERSON of plotting to subvert the government, a crime that carries a maximum penalty of death. The minimum sentence is DATE, although the court can show leniency if it finds extenuating circumstances.
ORG has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in the DATE demonstrations centred in GPE's FAC, which were crushed by the army with heavy loss of life.
ORG had been expected to face new charges since DATE, when the court that convicted veteran democracy activist PERSON of plotting to overthrow the government also implicated the former student leader.
The court's verdict said PERSON, who was jailed for DATE, had links with people ""convicted of counter-revolutionary crimes, including PERSON"". It also referred to a tape-recorded conversation between ORG and PERSON, but gave no details.
ORG had been active since his release from jail, defying persistent police surveillance and harassment to join in a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.",1
"NORP spirits, pubs and fast food outlet group ORG Domecq on DATE reported a fall in DATE profits but effectively ruled out a demerger of its spirits business as a solution to its problems.
ORG chairman Sir PERSON said in a statement the company was ""clear that the best way to improve shareholder value is to improve operating performance and that this should be our overriding objective for the foreseeable future.""
Costs of a demerger, which the market had hoped was on the cards, would have been ""very, very expensive,"" chief executive PERSON said in an interview with ORG.
It would have distracted management for DATE, he said, adding that there was ""no obvious shareholder value to be unlocked.""
DATE pretax profits to DATE before exceptionals slipped to MONEY (MONEY) from CARDINAL previously but were within analyst forecasts of CARDINAL.
Allied Domecq said exceptional losses for DATE totalled MONEY, the largest part of which was on the CARDINAL mllion pound sale of its PERCENT stake in brewer GPE-Tetley to PERSON in DATE.
Allied paid out a total dividend of MONEY a share, unchanged from DATE, which was used as a comparison because of a change to its accounting period.
""The figures were very much in line with expectations. Some people had been worried the dividend may be cut but it has been maintained and that's positive,"" CARDINAL analyst said.
ORG's shares had shed MONEY to MONEY by DATE ORG after touching a low of MONEY.
""The divisions have gone in the direction expected but if you were someone who wanted action -- a demerger or management change -- you haven't got either and there will be some disappointment,"" the analyst said.
But Hales stressed in the interview that there was ""a lot we can do in terms of improving performance.""
The spirits and wines business could benefit from increasing marketing, improving relations with customers, taking more costs out and improving returns on capital employed, he said.
In the retail sector, expansion in the pub business and cost cutting should push business forward, he added.
The company said that the cost of tackling overstocking of GPE spirits was the main factor in a PERCENT fall in DATE trading profits in the group's spirits business.
It said it was ""determined to increase prices (in spirits and wines) where we can,"" adding that strong brands and market leadership were the best basis for achieving this.
But it warned that the trading environment ""may offer little prospect of improvement.""
The group's retailing business, which includes pubs and fast food outlets, saw underlying profits rise by PERCENT during DATE and ORG said it saw further opportunities for developing its leading pub brands.
""The important thing now is to get the businesses trading well,"" said CARDINAL sector analyst who declined to be named.
Some analysts were sceptical, however, that ORG could achieve its goals.
""They are trying to do the right things, but they have poor raw material,"" the sector analyst said. ($MONEY Pound)","A multinational group trying to build a MONEY oil pipeline linking GPE and GPE held frantic, TIME talks on DATE to try to resolve how much involvent GPE's pipeline firm will have in the deal.
ORG, or CPC, which groups CARDINAL international oil companies and the states of GPE, GPE and GPE, hoped to sign off on a new restructuring deal on DATE TIME after talks.
But Western oil executives and NORP energy officials, speaking TIME before they hoped to sign, said it was far from clear what would happen because of a TIME push by GPE's LOC oil pipeline monopoly to take potentially the largest equity stake in the scheme.
""Are we going to sign? Well, I hope so, but I cannot say for sure,"" said a Western executive representing a ORG shareholder. ""We're burning the midnight oil to work out the issues.""
State-run GPE's bid to be not just the operator but also a shareholder and strategic decision-maker in the group has made the NORP shareholders very uneasy.
""WORK_OF_ART could end up being the equity holder representing the NORP government,"" said CARDINAL senior CPC source.
A breakthrough deal in DATE brought on board new equity holders but has yet to produce a share transfer. The companies involved are ORG, which will own PERCENT of CPC, GPE's LUKoil with PERCENT, ORG and GPE's ORG, PERCENT each, ORG and GPE's Agip SpA, PERCENT each, and ORG and GPE's ORG each.
PERCENT stake would be divided between GPE, PERCENT, GPE, PERCENT, and GPE, through ORG with PERCENT. Transneft, with backing from GPE, wants the other participants to agree to it taking the NORP government's PERCENT stake.
The proposed QUANTITY (QUANTITY) pipeline to link GPE's ORG oil field and GPE's LOC oil export outlet WORK_OF_ART would give ORG and ORG, partners in ORG, a much-needed dedicated export route for output that will peak at QUANTITY per day (bpd) by DATE.
But if PERSON takes all or part of GPE's nearly one-quarter stake, it could use its leverage to raise transit tariffs or insist that some NORP oil flow through the link, which would cut into the economics of ORG's and ORG's MONEY ORG (ORG) project and other ORG oil deals.
""The concern is GPE's role in the management of the project. Conflict of interest is something very unpalatable to the NORP side,"" a CPC source said.
Transneft spokesman ORG said the monopoly wanted the whole PERCENT stake and to be the operator of the pipeline, but that it might settle for a smaller equity share.
""Various states have used GPE's pipeline system in the past without contributions to GPE,"" he said.
CPC executives are anxious to sign a deal, since the project is already DATE behind schedule and has stymied development of NORP oil fields that require export routes before they can be economically tapped.
""There is an awful lot of pressure to sign,"" said CARDINAL source.
But CARDINAL senior Western CPC shareholders, including ORG president PERSON, told ORG DATE that if a deal was signed on DATE, it would probably not be for the crucial share transfer, the key step to getting the project off the ground.
The NORP pipeline, to be built in phases across southern GPE but bypassing war-torn GPE, could eventually carry QUANTITY per day, but other ORG projects will take up the extra capacity and leave little room for NORP oil.",0
"NORP cocoa importers hope business will be sweeter DATE, but increasing competition from Western chocolate bars and a lack of precise data on buying patterns have clouded the market, trade sources said on DATE.
""The general tendency is one of growth -- we'll be buying more cocoa DATE,"" said PERSON, supplies director at the large GPE confectionery plant in GPE. He declined to give figures.
Domestic producers are competing against a flood of Western ready-made chocolates, with the latter in an upward trend as domestic firms struggle to find recipes for success in a market economy.
ORG said imports of cocoa from outside ORG edged higher to QUANTITY in DATE from QUANTITY over DATE period.
ORG puts NORP grindings over CARDINAL flat at QUANTITY for DATE.
CARDINAL ORG source said GPE's ready-made chocolate products market would grow PERCENT DATE but that overall growth in cocoa imports was unlikely.
PERSON, head of ORG food industry department, said GPE's DATE imports of cocoa and cocoa derivatives slipped PERCENT year-on-year.
""I don't think we'll see much growth DATE,"" he said, putting imports of cocoa beans, liquor, powder, butter, grated chocolate and semi-fabricated whole cocoa bars at QUANTITY, including QUANTITY of beans.
But he cautioned that figures were difficult to pin down, since some imports do not show up in the official statistics and producers had stocks left over from DATE.
PERSON estimated that imported ready-made chocolate products comprise PERCENT of the domestic market for such goods.
Companies like ORG, GPE's ORG et ORG of GPE and ORGamp; ORG are suppliers to NORP confectionery plants, which now buy direct instead of going through the NORP-era agencies that bought QUANTITY of beans DATE.
""The NORP market is quite different from the GPE and NORP ones,"" said a senior source at a major NORP confectionery. ""It's a question of taste,"" the source said, adding that CARDINAL times as many NORP prefer dark chocolates to those who prefer milk chocolates.
Individual chocolate bars are a relative novelty in GPE and are having to work hard to compete with the traditional large, block chocolates, wafers and biscuits NORP love.
CARDINAL source guessed the size of the bar market at QUANTITY a year, but cautioned this was a rough estimate.
The market for chocolate-covered wafers and biscuits could be CARDINAL times higher, while the market for small chocolate candies was possibly CARDINAL times greater, the source said.
Bars, packaged for on-the-go consumption, are a relative novelty to NORP, who traditionally treat chocolate as a treat to be consumed at home or on special occasions.
""NORP are into plain chocolate; these fillings, nuts and souffles the NORP love aren't our tradition,"" PERSON said.
GPE grocery stores are filled with imported and domestic chocolates, but the abundance does not extend to the rest of this vast country to the same extent.
Trade sources said the NORP market was in such a state of change that Western confectioners were keener to launch new brands rather than increase an existing brand's market share.
""Everything is changing really quickly,"" said CARDINAL source.
PERSON, +7095 CARDINAL 8520","GPE said on DATE it would restructure natural gas monopoly Gazprom's operations, but Western analysts and even a junior company official said the move would leave the world's largest gas company intact.
""What Gazprom has suggested for itself is not a restructuring but a commercialisation of their services in GPE,"" said PERSON, vice-president of ORG in GPE and an expert on NORP gas.
Asked if GPE would reshape one of its most powerful companies in the formal sense of the word, PERSON said: ""No. But it is corporatisation in the Western sense.""
Economy Minister PERSON told a news conference the goverment would restructure Gazprom's home operations and possibly split its domestic output and transport arms.
He said the changes at Gazprom -- whose ORG (ADRs) keep investors drooling -- would in no way affect foreign shareholders.
""Domestic restructuring, yes. But we will not weaken Gazprom as an international corporation,"" he said.
Carving up Gazprom, whose gas accounts for PERCENT of LOC's gas imports, could deregulate the firm along the lines of ORG if carried out Western style.
""There's more smoke than fire here,"" said PERSON, associate oil and gas director at ORG in GPE. ""I don't think there's any serious restructuring here.
""ORDINAL-party access is not enshrined in GPE,"" he said, referring to the fact that Gazprom PERCENT of GPE's gas production and most of its transmission but has hesitated to allow other companies sell its output.
PERSON, an economic adviser to Gazprom chairman PERSON, said any changes would keep the company whole.
""An ORG programme to CARDINAL assumes that restructuring and state regulation in the gas industry will be carried out while preserving in the medium-term the organisational and production unity of ORG Gazprom,"" she said.
Gazprom accounts for DATE of world gas output and its DATE production rose PERCENT to QUANTITY (MONEY cu ft). It raised MONEY DATE with ORG and plans a Eurobond issue DATE.
""ORG investors should be more worried about other things,"" PERSON said, citing questions over whether Gazprom will ever liberalise trade in its very illiquid shares in GPE.
Stern said PERSON's remarks were essentially about accounting changes rather than structural ones.
""Transport units would pay the producers' units costs,"" he said, adding that the plan aimed to improve Gazprom finances. ""The NORP don't mean what we mean by restructuring.""
A senior NORP energy consultant said PERSON's remarks were ""kite-flying by the government"".
Gazprom was once an entire ministry run by Prime Minister PERSON. Analysts said the firm would owe MONEY in DATE taxes to the government if it could collect CARDINAL roubles in domestic debts.
Gazprom still has friends in high places and plans to sell even more gas to LOC from vast untapped LOC reserves. But it has come under pressure to contribute more to the federal budget.
But GPE may lack the will to alter CARDINAL of GPE's most profitable and powerful firms substantially.
""Periodically, some radical economists in GPE have suggested truly restructuring Gazprom,"" Stern said. ""But they have always failed. The political risk of destroying the Gazprom structure is too great.""
($MONEY = CARDINAL roubles)",1
"Hunting so-called ""fat cats"" - the biggest company boardroom earners - may have become a NORP media obsession but the pay packets of the country's top players are under even closer scrutiny from institutional shareholders.
DATE, between electronics giant ORG and some of its major shareholders who objected to a QUANTITY (MONEY) DATE package for new managing director PERSON, resulted in GEC setting tougher performance targets.
But questions remain over how much the individuals charged with running some of GPE's most, and in some cases least, successful companies deserve to be paid and have led to a reappraisal of the fundamentals of corporate governance.
Both DATE ORG committee on executive pay and the earlier ORG report on corporate governance laid down guidelines on how companies should behave. But not all the rules are compulsory and some firms have opted not to toe the line.
This has led to a more active approach by leading institutional shareholders like ORG and has seen greater involvement from bodies such as ORG and ORG funds.
""Institutional shareholders are paying a lot more attention to these issues, not perhaps out of choice but because of circumstances. We do think remuneration issues are important but perhaps get more publicity than they should,"" WORK_OF_ART, corporate governance manager at ORG told ORG.
Skipper said the group, which has been looking at corporate governance issues for DATE, does not generally give a view on the general package an executive receives, but tries to ensure a company's performance justifies the benefit.
This means close scrutiny of every aspect of the company's performance, including factors such as its return on capital, cashflow, the way it is managed and its prospects.
""It's good to see the big investing institutions flexing their muscles and taking an active interest in this way,"" CARDINAL industry insider told ORG.
DATE PERSON, director general of ORG, rallied behind PERSON, arguing that very few people were capable of doing the job.
ORG also sat on the ORG panel which urged the remuneration committees - which decide directors' salaries - to take into account the wider scene, including pay and employment conditions elsewhere in the company and industry.
A row over a new executive bonus scheme at NORP power and water giant ORG in DATE fuelled public outrage at the QUANTITY packages that executive directors of monopoly utilities have managed to amass since privatisation.
DATE, chairman of ORG and PERSON Sir PERSON was given the job of attempting to impose curbs following public outrage over the pay of PERSON, formerly the chief executive of ORG.
""That was a watershed. That was what raised public awareness of the issue (of directors' pay),"" ORG Skipper said.
The ORG committee said a number of privatised water and energy companies ""have developed, perhaps unintentionally, remuneration packages which are richer than required to recruit, retain and motivate quality managers"".
Skipper maintains that revealing directors' pay is a requirement of good corporate governance. ""It should be there for shareholder scrutiny,"" she said.
But her view is not appreciated by all directors. CARDINAL director of a quoted financial institution, recently told ORG he was firmly against having his salary and pension details published not least because of the potential personal repurcussions.
His mother-in-law happens to be a shareholder and receives the company's DATE report and accounts and he confided that she has since hinted she will re-write her will in favour of her other children.
($MONEY Pound)","State-owned ORG is under pressure from the NORP government to drop any thought of buying ORG long-haul jets from the GPE and stick with the NORP-based ORG equivalent, industry sources said on DATE.
They said that ORG chairman PERSON flew into a political storm after saying on DATE that the NORP flag carrier might use a mix of ORG and ORG planes in its planned new long-haul fleet, expected to cost MONEY.
CARDINAL industry source said the pressure on PERSON had come from Transport Minister PERSON.
""It's clear there is extremely strong political pressure,"" head of the ORG pilots union PERSON said on DATE.
PERSON on DATE told the business newspaper ORG there was no conflict in flying both the ORG CARDINAL and ORG PRODUCT aircraft.
""They are complementary...DATE like DATE, we need both ORG and ORG."" He added that he did not expect government opposition if the company bought from both NORP ORG consortium and arch-rival ORG.
""The minister, having talked to ORG, has been told that there will be an equivalent ORG product. It is perfectly natural that he ask the national company to invest in ORG,"" a transport ministry spokeswoman said.
Any decision will go to Prime Minister PERSON for ratification, the transport ministry spokeswoman said.
GPE's state-owned ORG is a senior partner in ORG. The others are ORG, ORG, a unit of ORG and ORG (ORG) of GPE.
At the heart of the debate, apart from technical merits of the fleet, is PERSON's desire to run the airline as a ""normal"" company along commercial lines, free of political intervention.
PERSON's mandate is to turn round the airline, prepare it for privatisation and deregulation of NORP air travel DATE. He has forecast the group was on track to break even DATE.
Because of the political sensitivity, a committee of ORG board members was formed to evaluate the products and will submit its conclusion on DATE.
The union's ORG said ORG should be left to choose the right planes for particular routes rather than have a fleet imposed by the government. A mixed fleet could make economic sense, if a world class airline such as ORG could fly both ORG and ORG, he said.
ORG is expected to order CARDINAL planes.
The official list price for the A340-300 is around MONEY. The plane seats CARDINAL passengers in a typical CARDINAL-class layout and can fly CARDINAL nautical miles or QUANTITY.
The ORG PRODUCT flies in CARDINAL basic versions. The CARDINAL-200 seats CARDINAL in CARDINAL classes and has a catalogue price of MONEY, and has a range of QUANTITY, or QUANTITY.
The CARDINAL-300, officially priced at MONEY, seats CARDINAL CARDINAL, flies QUANTITY or QUANTITY.
A ORG spokesman said the company has made a number of offers to ORG using different product mixes.
ORG itself declined to comment.
The ORG operating company in DATE reported a DATE operating profit of MONEY compared with a loss of CARDINAL in DATE.",0
"CARDINAL NORP financial institutions on DATE launched LOC ORDINAL city-wide, reusable ""smart"" card designed to replace cash in retail transactions.
The Exact card will be tested under a pilot programme operated by ORG, ORG and ORG, a unit of ORG
The project will be in GPE, GPE, city of CARDINAL people located QUANTITY (QUANTITY) northeast of GPE.
CARDINAL ORG merchants -- including convenience stores, gas stations and fast food outlets -- signed up with the test project.
The consortium is advertising ORG as an alternative to cash, credit and debit cards. NORP currently spend MONEY (MONEY) and MONEY (MONEY) using small coins and bills.
""With Exact you don't have to carry as many small bills and coins, and you'll always have the exact change required to make fast, convenient purchases,"" said PERSON, vice president of card and direct services for ORG.
NORP are among the biggest users of plastic cards in the world. They carry an estimated 46.2 million debt and credit cards, while use of these cards has jumped PERCENT in DATE, according to a recent industry survey.
""Technology is rapidly changing the face of money, providing faster, easier and more secure transactions. This is only the beginning,"" said PERSON, vice president of core banking services for ORG.
Exact will be followed in DATE by a community-wide test of ORG, a rival ""smart"" card system developed in GPE. Exact is based on smart card technology developed by GPE-based ORG.
ORG and ORG will roll out their Mondex system in PRODUCT, a city of CARDINAL people QUANTITY (CARDINAL kms) west of GPE.
Both systems are similar in that they involve storing money on a computer chip embedded within a card. When a customer uses the card to make a purchase, the value is subtracted from the card.
Customers simply insert their card in the merchant's special, hand-held purchase terminal. The merchant enters the purchase price and the customer presses the ""OK"" button.
The electronic value of the sale is collected in the purchase terminal and transferred via telephone modem to the merchant's bank account at DATE.
Exact users can load, or electronically transfer cash from bank account to the card, MONEY ($MONEY) from terminals in the ORG branches of ORG, ORG. Load terminals will also be located in shopping malls, student campuses and selected stores.
The card will initally be offered at no charge. But after an introductory period, each financial institution will set a fee for its own customers.","Quarterback PERSON led ORG to a CARDINAL-37 victory over ORG and the championship of the endangered ORG on DATE.
In what may have been the last EVENT game, the NORP overcame a driving snowstorm and a gritty Eskimo club to capture their ORDINAL ORG championship since DATE.
PERSON, named EVENT most valuable player, silenced critics who labelled him a fair-weather quarterback after the PERSON lost DATE bitterly cold championship game to ORG.
The former ORG star and ORG winner as GPE college player of DATE also won the ORG's most outstanding player award DATE after leading the NORP to a DATE, the league's best record.
""That's the full package. That's what has been missing DATE,"" PERSON said after winning his ORDINAL EVENT since DATE when he was with ORG.
PERSON completed CARDINAL of CARDINAL passes for QUANTITY and made a CARDINAL-yard scramble for a touchdown.
NORP newspapers have reported that the ORG's new salary cap may prevent GPE from paying PERSON's DATE salary of MONEY NORP (MONEY GPE) -- the highest in the league.
The snowy, slippery contest was a typical ORG in which weather played a critical role. The steady snowfall blanketed PERSON's PERSON for most of the game and kept field crews busy.
Despite the conditions, it was the ORDINAL-highest scoring ORG game. The highlights included a CARDINAL-yard kick return by the Eskimos' Henry ""Gizmo"" PERSON which set a new ORG record.
The championship capped a chaotic, money-losing season which left many fans wondering if they will see the venerable EVENT DATE.
""After a game like this, it would be a real shame if the ORG folded,"" said parka-clad PERSON, CARDINAL of CARDINAL spectators who huddled against the weather.
Despite returning to its NORP roots DATE after a failed expansion into GPE, the ORG is dripping red ink.
The Grey Cup was not a sell-out, and all but CARDINAL of the ORG's CARDINAL clubs will lose money, due to dwindling crowds and cash bailouts to keep teams in GPE, GPE and GPE afloat during DATE.
The DATE GPE Rough Riders franchise folded in GPE's capital at the end of the regular season.
The cash-strapped PERSON could not afford to fly players' wives to the game.
Average CFL attendance slipped to CARDINAL fans a game from CARDINAL in DATE, despite a slick ""Radically NORP"" marketing campaign trumpeting the league's national heritage.",1
"Gold miner ORG, which owns PERCENT of the shares in GPE ORG, said on DATE it was looking at ways of giving those ORG shares back to its shareholders.
""We're looking at the possibility of returning the ORG shareholding to shareholders and when that can be done,"" ORG chief executive PERSON told ORG.
PERSON said a straight forward return of the shares to shareholders could not approved until DATE given the PERSON mine's current debt arrangements.  
But PERSON was also looking at other structures through which the shares could be returned before then, he said.
He said the PERSON share return was just CARDINAL of several possible ways of unlocking the true value of the ORG stake, which was not reflected in ORG's current share price.
""The whole purpose is to unlock this mismatch,"" he said.
ORG's assets could viewed in CARDINAL parts -- the ORG stake and other smaller mining assets, he said.
""If the CARDINAL parts were to be separated they would appear to have more value to shareholders.""","CARDINAL of the biggest names in the NORP motor industry, Rover and ORG, kicked off ORG on DATE by unveiling big new investments to fuel their drive for more exports.
Rover, owned by GPE's ORG, said it planned to launch a new CARDINAL-wheel drive ""baby WORK_OF_ART"" to take on NORP rivals in GPE and world export markets.
The new vehicle, due to go on sale in DATE, is part of ORG's rolling QUANTITY (MONEY) investment programme.
Rover will in addition inject MONEY of new business into the components industry. This will go mainly to NORP firms and safeguard CARDINAL of jobs at Rover and its supplier firms.
Vauxhall, owned by ORG GPE.ORG, also guaranteed CARDINAL existing jobs at its FAC complex in northwest GPE with the announcement of a QUANTITY investment to modernise the plant.
Efforts by both companies to gear up to expand foreign sales come as the NORP market is witnessing sluggish sales, with most growth stemming from sales to company car fleets.
The GPE-based motor show, following the recent GPE showcase, saw motor companies banging the sales drum, seeking to gloss over their problems with glitz and new gizmos to tempt customers into buying. But exports remain key.
Rover's new chief executive, Dr PERSON, said: ""The baby PRODUCT is very much an export product,"" adding that he hoped its export sales would account for PERCENT of production and boost sales in DATE.
ORG chairman and managing director PERSON said while the NORP and NORP markets remained difficult, he saw opportunities for sales of the DATE PRODUCT model to grow quite significantly in LOC and LOC.
Most industry leaders agree that LOC is likely to remain a cut-throat place to do business, with over-capacity squeezing margins.
PERSON, head of ORG in GPE, told ORG that the PERCENT growth levels seen in LOC was distorted by factors like discounting and the NORP government offering incentives for customers to buy new cars.
Some analysts put underlying NORP growth as low as two percent, after stripping out factors like those cited by ORG.
McAllister blamed poor consumer interest in GPE on the ""feeling-not-so-good"" factor and predicted no turnaround until consumers were cured of their recessionary hangover.
ORG and Traders industry group admitted that a turnaround depended on persuading ""WORK_OF_ART to visit showrooms"" again and the ORDINAL test is DATE when the show opens to consumers. ($MONEY Pound)",0
"Appliance and building products manufacturer ORG reported DATE net profit and dividend on DATE but forecast that recent restructuring and a seasonal lift would boost profits in DATE.
Email said the environment for industrial activities remained difficult and recent economic forecasts had deferred the timing of an upturn in building sector.  
""Nevertheless, the significant improvements in the company's pre-tax operating profits flowing from restructuring across DATE, are expected to continue in DATE,"" the company said in a statement accompanying DATE results.
""As well there should be the normal DATE lift in sales and margins, leading to a ORDINAL CARDINAL profit well ahead of DATE,"" it said.
Earlier Email reported a pre-abnormal net profit of MONEY for DATE, up from MONEY the previous corresponding CARDINAL DATE.  
Net profit however fell to MONEY from MONEY DATE, due largely to abnormal losses of MONEY incurred in restructuring and reducing overheads. Email also cut its interim dividend to MONEY from CARDINAL DATE, saying it had realigned dividends to reflect the stronger DATE in the light of continuing uncertainty about the economy.
Email Managing Director PERSON later told ORG Email expected pre-tax profits for DATE of DATE would also be above those in DATE of CARDINAL.  
""We are expecting in DATE that we would have pre-tax operating profits higher than DATE,"" PERSON said.
""We should also have DATE lift.""
He said PERSON was pleased that it achieved profit growth in its building products and major appliances divisions despite lower sales.
Analysts said the result was within expectations and was largely unsurprising, even with the dividend cut.
""It's still a high payout ratio,"" said CARDINAL ORG analyst said of the dividend, noting that the final dividend was likely to be maintained.  
PERSON's share price was unchanged at A$MONEY at TIME (0210 ORG) on light volumes.
PERSON said there could begin to be an upturn in the housing industry at DATE, but that this would take some time to flow through to PERSON's business because its products were installed late in the building process.
""If it (the upturn) was DATE, then it (the resulting flow-on) would be in DATE,"" he said.
But this flow-on effect would then have an immediate effect on PERSON's bottom line because of the recent restructuring which had reduced overheads.  
""As there's an upturn, we should get that immediately and a lot of that will go to the bottom line immediately,"" PERSON said.
He also said PERSON may increase its PERCENT stake in NORP electricity meter maker ORG
""There may be an opportunity to lift that stake in the future,"" PERSON said. He said PERSON remained on the lookout for further acquisitions.
""They (any further acquisitions) would have to be in existing core areas ... but I don't think we have anything directly in line at the moment,"" he said.
-- PERSON CARDINAL-2 9373-1812","GPE-based transport equipment hire and logistics firm, ORG, reported a PERCENT profit lift for DATE on DATE despite flat NORP and NORP economies.
Surging profits from GPE' GPE and NORP CHEP pallet hire joint venture with GPE's ORG compensated for otherwise slow growth from GPE, the company said.  
""The continuing improvement in our performance reflects, in part, the successful retionalisation of our wholly owned businesses and strong growth from our CHEP joint ventures,"" Brambles Chief Executive PERSON said.
""ORG, in particular, continues to justify our confidence in its long term growth prospects in the region,"" he said in ORG's profit statements.
GPE' net profit rose to MONEY (MONEY) for DATE from MONEY in CARDINAL, but DATE result was undermined by a large abnormal loss.  
Pre-abnormal profits for CARDINAL rose PERCENT to MONEY, at the top end of analysts' expectations.
Pre-tax profits rose PERCENT and PERCENT from LOC and GPE respectively, while NORP profits rose PERCENT.
""Overseas profits grew at twice the rate in GPE and the trend is likely to continue,"" Fletcher said.
""In particular we expect further contributions from CHEP in LOC and LOC,"" he said.  
Fletcher later told ORG this strong peformance from ORG's NORP operations had encouraged it to actively look at further acquisitions outside GPE.
""You should anticipate some acquisition work in LOC, but in businesses we already operate in here,"" he said, referring to areas like transport equipment rentals and records managements.
Looking ahead, he said strong contributions from GPE and LOC should continue to offset soft NORP conditions and help produce profit growth.  
""We haven't got an expectation that we will get too much help from this economy ... for DATE,"" he said. ""But all in all we've got enough things going to see another (profit) increase for DATE,"" he added.
The result generally pleased analysts, who also pointed to the strong GPE pallet operations as the main bullish note.
""ORG is the outstanding area,"" said ORG analyst PERSON.
""As long as they're saying positive things about CHEP in the GPE then they'll be alright and there's a reasonable amount of momentum there,"" another GPE transport analyst said.  
Brambles' shares closed up MONEY at A$MONEY against a soft market overall.
-- ORG CARDINAL-2 373-1800",1
"ORG, the struggling appliance maker led by corporate turnaround specialist PERSON, said DATE it would cut CARDINAL jobs -- CARDINAL its work force -- and eliminate PERCENT of its product lines.
The drastic measures, even more severe than Wall Street had expected, were announced DATE after ORG -- known as ""Chainsaw Al"" for his deep cost-cutting at troubled companies -- became chairman.
The maker of ORG and ORG appliances, patio furniture and gas grills, which just reported its ORDINAL DATE loss since DATE, said it would also reduce the number of its facilities to CARDINAL from DATE and take a charge of MONEY for CARDINAL-time costs associated with the moves.
The GPE, GPE firm, which lost MONEY in DATE as sales fell PERCENT, did not specify when the charge would be taken.
It did say, however, that MONEY of the charge would be in cash -- for the payment of severance and other employee costs, lease obligations and other plant costs.
Sunbeam also announced ambitious plans for the future. It said it plans to double revenues to MONEY by DATE and lift operating margins to PERCENT of sales from PERCENT posted for DATE.
Sunbeam also wants its return on equity to grow to PERCENT from PERCENT in DATE.
Shrinking profit margins and high manufacturing and administrative costs have depressed the company's profits in DATE. Sunbeam earned MONEY in DATE, CARDINAL its DATE profits.
Sunbeam said it will sell or shut CARDINAL of CARDINAL facilities, including CARDINAL of its CARDINAL factories, leaving it just CARDINAL factories in GPE and CARDINAL overseas. In addition, warehouses will be cut to CARDINAL from DATE.
The company said it will sell several businesses, including those that make furniture, time and temperature devices, scales and decorative bedding.
Sunbeam said its remaining businesses will be centered on kitchen appliances, personal care products, health care items, outdoor cooking equipment and professional care products.
""Our goal is to essentially complete the restructuring initiatives within DATE. Therefore, the company has every intention of meeting its previously stated goal of beginning DATE as a new company,"" ORG said in a statement.
Sales will double by DATE to MONEY, he said.
""It will be vintage ORG,"" ORG said in a conference call with institutional investors and analysts.
ORG declined to identify potential deal partners but said new products, including many designed for GPE markets, and other steps would yield PERCENT or better DATE revenue growth.
PERSON, who was named chairman and chief executive officer in DATE, is credited with turning around ORG, which was later sold to ORG. At ORG, ORG fired CARDINAL workers and sold MONEY in assets.
While his turnaround campaigns have helped stockholders, they have been criticized by community activists, unions and other groups as insensitive to workers.
Within DATE of joining ORG, ORG -- also nicknamed ""PERSON"" after the villain of LAW films -- replaced several top executives and brought in people who had worked for him in the past.
Although restructuring annoucements usually boost a company's stock price, ORG stock lost MONEY to $MONEY in late trading on ORG.
""He's pulled off some amazing turnarounds,"" ORG analyst PERSON said of ORG. ""But I'm a little skeptical. I think the stock's a little ahead of itself.""
""'Chainsaw Al' is a pussycat name for you,"" analyst PERSON of ORG told ORG. ""If you pull this off, you should be called 'Nuclear Al.'""","ORGamp; ORG agreed on DATE to buy over-the-counter market-maker  Nash, ORG, another step by the pioneering discount broker into low-profile, but lucrative financial services businesses.
Terms were not disclosed, but CARDINAL sons of co-founder PERSON said in an interview that the acquisition of the GPE firm was by far the biggest deal ORGamp; Reilly has done.
Nash, ORG buys and sells on behalf of retail brokerages CARDINAL stocks listed on the GPE.  
ORG analyst PERSON said the acquisition may be the start of a flurry of deals involving market-makers in ORG stocks as reforms in pricing threaten to narrow the often wide spreads on ORG stocks.
Investors have complained that the price differences can amount to PERCENT or more of a stock price.
""Going for market share through acquisitions is CARDINAL way to make up for narrowing spreads,"" ORG said.
He said he knew of no pending deals.  
Among the top CARDINAL independent ORG market makers, GPE, ORG profits on the spread, or difference between prices the seller and buyer get. It employs CARDINAL people, ORGamp; Reilly said.
The biggest Nasdaq market makers are subsidaries of big financial firms.
""This gives us another major leg,"" said PERSON, head of the company's ORG subsidiary. ""We expect this Nasdaq market maker business to be a ORDINAL leg for us.""  
Best known as a retail broker, ORGamp; Reilly is also a significant force through ORG in backroom processing of Wall Street trading and owner of ORG, the ORDINAL-largest market-maker, or specialist firm, on ORG.
""The deal really plays well with ORGamp; ORG as whole,"" said ORG analyst PERSON. ""With ORG it gives GPE, ORG a lot of potential for going after instutitional clients.""  
PERSON, president of the firm, said ORGamp; Reilly with Nash, ORG would court institutional clients by adding to its roster of CARDINAL securities in which it makes markets.
""That number will probably go to CARDINAL,"" PERSON said.
The brothers, whose father, chairman PERSON, co-founded the firm in DATE, said the mightily improved  capitalization of GPE, ORG after the merger with ORGamp; Reilly will make it much more attractive to large institutional clients.  
PERSON said the leading market-maker for institutional clients had capitalization of MONEY, or CARDINAL times or more that of GPE, ORG. ORG said ORGamp; Reilly had capitalization of MONEY.
The brothers said they expect revenues at GPE, GPE to rise dramatically as long as stock trading remains robust and may even double to MONEY by DATE.
Business has been strong in DATE and in DATE and should yield a strong fiscal DATE, PERSON said. He declined to comment on analysts forecasts of earnings. ORG expects ORGamp; Reilly to report $MONEY a share for DATE. DATE, the company reported a normalized $MONEY.
Co-founder PERSON serves as chairman and chief executive of the firm, which was the ORDINAL to offer discounted commissions on ORG-listed stocks after fixed trading commissions were abolished in DATE.",1
"ORG said DATE it will move CARDINAL sales, marketing and customer service workers out of ORG over DATE, ending a downtown GPE office presence that dates back to DATE.
The move was prompted by ORG DATE purchase of the landmark complex located on LOC for use as its new headquarters.
Included in the deal announced DATE were QUANTITY of land next to the centre now used for employee parking that ORG agreed to sell to ORG.
No financial terms were released. PERSON, ORG's group vice president of marketing and sales, said at a press conference both sides were ""happy"" with the deal, which has been completed.
ORG said ORG, which occupies QUANTITY in CARDINAL of the center's CARDINAL towers, had planned to stay in its location through DATE when its leases expire.
""Our plans got changed -- by the new landlord,"" he said.
Most of the employees, who work in the ORG, ORG and ORG, will be relocated to ORG's existing ORG building near the automaker's headquarters in GPE, GPE
ORG said ORG was not pressured by ORG to leave early, but decided to do so because it now has space to relocate workers as a result of its ongoing ORG 2000 reorganization.
Rewey declined to say if ORG will pay any of ORG's relocation costs. Those expenses could be substantial because ORG's customer assistance and business assistance centres are computer-intensive, technically sophisticated operations.
Employees will begin moving by DATE and should be out of ORG by DATE.
Fearing his urban revitalisation efforts could be hurt, GPE Mayor PERSON had encouraged ORG to stay in downtown GPE. But ORG said ORG could not find a suitable downtown location that would allow it to replicate the efficiencies it now enjoys at FAC.
He noted ORG is encouraging its outside advertising agencies and accounting suppliers to remain in GPE.
ORG officials took pains DATE to point out the company remains committed to the resurgence of GPE. Included in that is a MONEY renovation of the former NORP PERSON DATE that will serve as the new ORG-Ford Training Centre.
In DATE, ORG agreed to pay MONEY for naming rights to a new downtown stadium for the ORG professional football team.
But some local real estate observers said ORG's decision to leave GPE does not bode well for the city, which is losing a long-time and prominent tenant. Even though ORG will fill the space ORG is vacating, there is still a surplus of class A office space, said PERSON, a broker and market analyst at ORG in GPE, GPE
""It lessens the possibility that current vacant class A space will be able to fill up, and the spill-over effect on class B office space is diminished because of this,"" he said.
ORG's history with ORG dates back to DATE when then Chairman PERSON announced the FAC development project, which was designed to attract business and employment that would lead to the revitalisation of downtown GPE.
ORG said its QUANTITY World of ORG exhibition and display area at FAC will be discontinued in DATE. Company officials said they are not sure where or how the exhibit, which is popular with marketing and sales workers, will be reconstructed.","ORG said DATE it agreed to sell CARDINAL troubled parts plants to a new company that plans to become a major player in the competitive MONEY automotive interior supply industry.
The new company, ORG, is being funded by the GPE investment firm ORGamp; PERSON and auto industry executive PERSON. No terms were announced for the sale, which has been expected for DATE.
Peregrine, which will have MONEY in DATE revenues, will be based in GPE, GPE, and pursue contracts with car and truck manufacturers in LOC as well as overseas.
""Peregrine will be CARDINAL of LOC premier automotive supply companies,"" ORG said in a statement. ""We expect to see signficant growth in DATE.""
Gulda is a former chief executive officer of ORG, a brake systems maker that is part of ORG.
Peregrine also said it expected to sign an agreement with ORG for future business. The ORG newspaper of GPE reported DATE that said ORG has agreed to provide GPE with more that MONEY in contracts DATE.
Peregrine officials could not be reached to comment.
The CARDINAL plants make hinges, door and instrument panels and other interior parts, and generate combined revenue of MONEY a year. The plants employ CARDINAL TIME and salaried workers.
CARDINAL of the plants, in GPE, GPE, and GPE, GPE, are part of ORG's ORGamp; ORG unit. The other CARDINAL, a fabrication plant in GPE, GPE, and a trim plant in GPE, report to ORG and ORG of GPE.
Peregrine will enter a competitive market facing major companies such as ORG and ORG Some analysts said CARDINAL of the GPE plants could have have a difficult time competing. ORG for most of what the Windsor plant supplies, for example, will run out in DATE, and the plant has not been winning new bids.
Nevertheless, there are some parts segments, such as door panels, where the industry needs all the producers that are out there, said PERSON, a vice president at industry consultant ORG
""There is such a need for all of these door panels that CARDINAL companies couldn't supply them all,"" he said.
Moreover, companies that have been spun off from ORG have a history of performing better than they did under the parent company, said PERSON, managing director of ORG in GPE, GPE
Virag cited privately held ORG, a forging operation that ORG sold in DATE, and engine maker ORG, which was sold in DATE.
""If you look at history, there's a very good chance that this company will do well,"" he said.
The GPE plants had been on a list of CARDINAL domestic operations ORG had identified as being troubled facilities.
Sale of the NORP plants became an issue in the DATE strike by members of ORG union in DATE. In the end, ORG won the right to sell the CARDINAL plants. Workers not kept on by the new owner will be offered jobs at other ORG facilities.
Peregrine said TIME workers at the CARDINAL plants who are retained will be covered by the DATE master contracts with ORG and ORG unions. Wages, pensions and benefits for salaried and TIME workers will be about the same as they had been under ORG, it said.
Peregrine will be financed with equity from ORGamp; ORG, a private partnership formed to invest in consolidating industries and corporate divestitures. Peregrine said it does not expect to incur debt other than for working capital needs.",1
"ORG huge PERSON's Bay nickel deposit will help turn the company into a QUANTITY a year low-cost nickel producer by DATE, company executives said on DATE.
The new discovery will propel the company's growth by PERCENT over DATE when ORG produced MONEY of nickel, ORG chairman and chief executive PERSON said in a speech to media and analysts.
""We want to remain the world's leading nickel producer in a growing nickel market,"" he said.
Costs will decline by PERCENT because of GPE's GPE, from $MONEY a pound in DATE to CARDINAL, said chief financial officer PERSON.
But capital costs for GPE's Bay will be higher than initially thought, said PERSON, president of GPE's ORG, a unit of ORG.
The company now expects to spend MONEY on facilities until DATE, up from earlier estimates of MONEY, he said. The company expects to finish a feasibility study by DATE, he added.
Inco took over ORG DATE for MONEY and won control of the giant GPE's LOC. The company expects to be producing MONEY of nickel a year from the property by DATE.
In the near term, ORG said its production should grow in DATE to MONEY, up from CARDINAL in DATE. By DATE, nickel production should reach MONEY, the company said.
While world nickel supply and demand were in balance in DATE, nickel demand should slightly outpace supply in DATE, said PERSON, vice-president of marketing.
""I would argue that in the near term, DATE, the supply-demand fundamentals for nickel look very good,"" he said.
He said it was mystery to him why nickel prices have been trending down recently, but he pointed to a glut in the stainless steel market.
""The stainless steel industry is going through kind of a crisis right at the moment,"" he said.
He said he did not expect any increase in NORP production of nickel in DATE.
But Salathiel, who will retire at DATE, would not predict a nickel price for DATE.
""The CARDINAL thing I've learned is it's impossible to predict nickel prices,"" he said.
Inco plans to spend MONEY on exploration DATE, up from an expectedUS$55.1 million DATE, said PERSON, vice-president of exploration.
((ORG, ORG CARDINAL 941-8104))","Falling gold prices have recently drained much of the life from ORG key gold index and analysts say the bloodletting may not be over.
""Gold stocks are still reflecting a $MONEY gold price, but look at the price now,"" said gold analyst PERSON at brokerage PERSON in GPE. ""It's awful.""
""I think people are writing the obituary for the GPE gold index,"" said PERSON, a mining analyst at ORG in GPE. ""They've been slaughtered.""
The ORG DATE gold price has slid steadily since DATE to $MONEY an ounce on DATE from $MONEY. Gold was up slightly in GPE on DATE at $MONEY.
Gold prices have slumped to DATE lows on a strong GPE dollar, booming financial markets, low inflation, rising mine production and rumors of central bank selling.
Most analysts said the yellow metal was headed further south, but there was no consensus on the extent of the decline or when prices might recover.
The heavily weighted gold index in GPE, GPE's biggest stock market, has dropped with the price of the metal, losing PERCENT since DATE.
GPE's biggest gold companies, ORG and ORG have followed suit.
PERSON, the world's ORDINAL largest gold producer, closed at C$MONEY on DATE, down from C$MONEY on DATE. The stock rose slightly on DATE to C$MONEY. In GPE, PERSON has fallen to CARDINAL from CARDINAL on DATE.
GPE-based ORG fell to a DATE low of C$MONEY on DATE from C$MONEY on DATE. It was up C$MONEY to C$MONEY on DATE. In GPE, ORG fell to CARDINAL on DATE from CARDINAL on DATE.
GPE gold producers have also been hit. ORG was trading at CARDINAL on DATE on ORG, versus CARDINAL-1/4 on DATE. ORG was at CARDINAL on DATE in GPE, down from CARDINAL on DATE.
Traditionally, GPE gold stocks move up in tandem with the gold price, but do not react as strongly to a price decline.
Discoveries, takeover rumors and news from exploration companies that share the GPE gold index with major producers generally temper the index's reaction to price slumps.
That is not the case now.
""At this point in time, the market is not even paying attention to special situations,"" said PERSON.
On DATE, almost every stock in the GPE gold index fell except for diamond companies.
PERSON GPE predicted GPE golds would lose a further PERCENT before they stabilized.
Diversified producers such as GPE-based ORG were not as vulnerable as pure gold producers to steep drops in the gold price, PERSON noted.",1
"GPE has launched a manhunt across the restive region of GPE, tightened airport security and offered a reward of $MONEY for the arrest of culprits who exploded a bomb in GPE DATE, officials said on DATE.
The government had announced a reward of MONEY ($MONEY) for information leading to the arrest of those responsible for the bomb blast DATE outside city government offices in the NORP capital, GPE, a senior official said.
""No one has yet been arrested and we are now mobilising and deploying our forces,"" PERSON Vice Mayor PERSON said in a telephone interview.
Notice of the reward had been published in LOC on DATE and it was being issued in other newspapers in the strategic NORP region, government officials said.
DATE bomb, the largest so far set off by NORP activists in restive GPE, had resulted in no casualties but caused widespread damage, shattering windows within a radius of QUANTITY (yards), officials said.
""Almost the whole of GPE heard it,"" said CARDINAL ORG government official. ""It was a muffled sound, like -- whoong.""
Officials insisted there was little doubt that the blast was politically motivated and carried out by followers of the region's exiled god-king, the Dalai Lama.
The bomb exploded at TIME outside a government building and was therefore clearly political, said PERSON, deputy director of ORG.
""This was done by the Dalai separatist camp,"" the government official said, adding that the attack bore the hallmarks of previous similar ""terrorist acts"". He declined to give details although several smaller bombings have been reported in GPE.
""This is a terrorist act, aimed at destroying peace in our area,"" he said. ""This was a brazen act.""
Police had set up a special task force to search for the culprits and customs and immigration officials had stepped up security searches at GPE's airport, he said.
The senior police official said the bomb was a home-made device made mainly from ammonium nitrate, a fertiliser.
""We are targeting NORP exiles returning from abroad and who have political connections,"" he said when asked about the focus of the manhunt.
""The bomb was made at a farm,"" he said. ""We are searching mainly in GPE, but are cooperating with other areas.""
GPE regularly blames followers of GPE's exiled god-king, the Dalai Lama, for NORP unrest that erupts sporadically in the strategic NORP region that borders GPE.
The Dalai Lama, who won WORK_OF_ART in DATE for his non-violent campaign to win autonomy for his homeland, says he wants self-government and freedom of worship in the deeply religious NORP region. He fled GPE in DATE after an abortive uprising against GPE rule.
Monks in the devout NORP region who have spearheaded anti-Chinese demonstrations and riots in the past were not regarded as suspects, the police official said.
Officials have vowed to retaliate, signalling a possible renewed crackdown on NORP unrest in the region.
""We should wage a tit-for-tat struggle against the Dalai clique's sabotage,"" local radio quoted PERSON, vice chairman of the regional government as saying DATE.
Several much smaller bombs have been been set off in GPE in DATE, including CARDINAL in DATE that caused slight damage to a plaque donated by GPE and DATE outside the headquarters of the GPE regional government.","When novice torero PERSON steps into the arena and faces down a raging bull, only his fast-developing flair and a passion born of poverty lie between him and a gory end.
Art and courage fuse as the DATE swirls his cape and moves with the elegance of a dancer. The rays of the TIME sun glisten on his Suit of Lights -- the bullfighter's traditional costume. But when the going gets tough, the QUANTITY (QUANTITY), QUANTITY (QUANTITY) baker's son knows the most important lessons to remember are those he has learned growing up on the tough streets of GPE, the NORP capital.
""I've got more passion than a rich person. I've had to put up with things in my life that a rich person would not have to suffer and when I get in front of a bull I have the same attitude. My daily life has given me one of the most important lessons for bullfighting,"" PERSON explained.
As a hand-me-down from NORP colonialists, bullfighting -- the so-called fiesta brava -- has the image of a wealthy man's sport in GPE. But while most of those in the stands at the capital's CARDINAL-capacity DATE bullring are from the nation's elite, the ones at the sharp end come mostly from humble origins.
PERSON is one of the rising stars of GPE's fledgling school for bullfighters. His training programme, which he began at DATE, includes pitting his wit against a contraption that resembles a shopping cart with horns. And for DATE as a novice, he has cut his teeth on fighting the smaller bulls.
Like scores of other youngsters, his dream is to become a top professional -- a major league matador. His performances on DATE DATE in DATE have drawn rave reviews from critical crowds and the specialist press. If all goes well, he may get his chance at the big time when the main season starts in DATE.
""I've often thought what would happen if I don't succeed in becoming a matador but I don't worry. It's something that I have to achieve -- it's as simple as that,"" he said in a short break from training.
Even if he does succeed in following in the footsteps of his idol PERSON -- reigning king of NORP bullfighting -- QUANTITY (CARDINAL kgs) of killing machine will not be the only obstacle between him and living happily ever after. The sport's patrons are a wealthy minority who often value political and social contacts above ability, making it difficult for poorly connected youngsters to rise on merit.
In addition, every time a NORP steps into the ring, he is fighting to get out of the ghetto that he has been cast into by a sport dominated by NORP.
""NORP bullfighters have always been on unequal terms compared to the NORP. While the NORP were going from CARDINAL big bullring to another the NORP have to travel by bus along dusty village tracks looking for bulls to fight,"" said matador PERSON ""ORG"" Ruiz, the training school's resident instructor.
When young hopefuls DATE and CARDINAL arrive at the school, ORG watches closely for a rare combination of intelligence, physical fitness, bravery and ""the poor man looking for fame and the chance to live a little like the rich man."" Fellow instructor PERSON separates bullfighters into those who are brave and those with great artistry. The brave ones, he says, fill seats and make millions as crowds flock to feel the fear and see if the bull finally gets its own back.
But far from the macho world portrayed in novelist PERSON ""WORK_OF_ART"" and ""WORK_OF_ART,"" the head of GPE's only bullfighting school does have his sensitive side. ""Of course it's cruel to kill the bull but that's our job,"" ORG said. ""But it's not like killing an enemy. We try to do it the best way possible. The fiesta brava is all about courage and death.""",0
"An influential NORP government panel on DATE called for a fundamental change in the nation's land policies, arguing that the old concept of trying to hold down land values was out of date.
Real estate values have plummeted since the bursting in DATE of GPE's ""bubble"" of inflated asset prices.
The panel called for an ""appropriate"" tax on landholdings in line with balanced assessments of value.
To promote more liquidity in real estate holdings it recommended securitisation and promotion of joint ventures.
It also called for steps to encourage small landowners to sell their land or cooperate in development projects in order for large-scale development to take place in big cities.
Analysts and real estate industry sources said, however, that the panel failed to make specific proposals that would help end the long slump in the real estate market.
""Nobody in the government or politicians have yet formed a clear policy to solve the slump in the real estate market and falling land prices,"" said a real estate industry source.
Some experts said a change in taxation is the most important step that needs to be taken.
""While the panel makes wide-ranging proposals, it is somewhat disappointing that the panel did not make specific proposals on taxes on land (holdings and transactions),"" said ORG, a senior analyst at ORG
It is GPE's ORDINAL review of land policy in DATE.
The panel said in its proposals to Prime Minister PERSON that land prices had fallen to a point where the price surges in DATE of the bubble had been offset after a DATE slump.
Emergency intervention measures to curb land prices adopted in DATE are no longer needed as they are still falling, it said.
Banks and non-bank financial institutions have been reeling from property-related bad loans, a factor blocking a smooth supply of funds to the real estate market and strong economic recovery.
The proposals follow a request by ORG in DATE for a review of GPE's land policy to cope with structural changes such as falling land prices, growing numbers of people leaving the GPE metropolitan area and a rapid rise in the proportion of old people in the population.","ORG said it will be able to carry QUANTITY of air cargo DATE when its twice-daily passenger services between GPE and GPE begin a new, shorter route over GPE DATE.
PERSON, ORG's regional cargo manager ORG said the new northern route over NORP air space will mean shorter journey times for ORG's ORG PRODUCT aircraft which won't need to carry as much fuel enabling the cargo payload to be increased by QUANTITY per flight on average.
He said the new routing was negotiated during recent talks between the NORP and NORP governments and also benefits ORG's rivals on the route, ORG and Virgin Atlantic. Both ORG and Virgin Atlantic said they are also due to start the new shorter route on DATE.
""The new routing via Urumqi in GPE will be a real benefit to us with the start of our DATE schedule on DATE. It means a shorter distance, less fuel and more cargo. With the extra capacity it will generate of QUANTITY a week which is very close to getting another PRODUCT freighter on the route,"" PERSON said.
-- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017",0
"ORG said it expects to maintain DATE gross profit margin in DATE to PERCENT range.
""We'll definitely be able to stay, on an DATE basis, in DATE to PERCENT range,"" said chief financial officer PERSON in an interview with ORG.
The PERSON, Ill.-based medical products and services company also is still comfortable with the forecast it made in DATE that DATE sales would be MONEY, although PERSON suggested that figure could be low.  
""I would say that we're very comfortable with that number ... It could be higher,"" PERSON said of the estimate.
Baxter reported DATE earnings on DATE of $MONEY per share, beating the consensus Wall Street estimate of $MONEY per share. DATE profits were $MONEY per share.
Sales for DATE were MONEY, compared to MONEY DATE.
Foreign exchange translations reduced DATE sales by MONEY, PERSON said. ""Despite the fact that our sales impact of foreign exchange was MONEY, we still exceeded the earnings estimate for DATE,"" he said.  
Unfavorable currency exchange ratios continued to hit hardest in GPE, PERSON said. ""Going forward, we're assuming that it doesn't get better. If it does get better, then we have this strange thing called an upside ... But predicting foreign exchange is the ORDINAL step to doom,"" he said.
After closing its acquisition of GPE's ORG, likely by DATE, ORG expects PERCENT of sales and PERCENT of profits to come from outside GPE.
The company targeted DATE cash flow of MONEY. In DATE, cash flow was MONEY.  
Shares in Baxter were unchanged at DATE at TIME.
On a segment basis, sales growth in DATE was strongest in Baxter's smallest business, cardiovascular medical products, and weakest in its largest business, the intravenous systems sector.
In cardiovascular, percentage DATE sales growth was in the high teens, led by strong sales gains in tissue heart valve and perfusion services, PERSON said. The segment generated PERCENT of DATE's MONEY in sales and is expected to remain in that range DATE, he said.  
Percentage sales growth in the biotechnology segment was in the mid-teens, powered by growth in sales of ORG, a blood-clotting factor for haemophiliacs, and Gammagard, a therapy for patients with weak immune systems, PERSON said.
Biotech provided PERCENT of DATE sales, but is expected to jump to PERCENT after the PERSON acquisition.
PERSON added that PERSON's development of a blood substitute product ""continues to move ahead.""  
The renal therapy business showed percentage sales growth on DATE in the low teens outside GPE, while GPE sales were down in single digits. The GPE decline was caused by sales lost to ORG following its acquisition of ORG unit of ORGamp; PERSON, PERSON said.
The renal segment's percentage share of Baxter sales is expected to contract to PERCENT DATE from PERCENT DATE, PERSON said.
In the cash cow intravenous business, percentage non-U.S. sales growth was in the mid-single digits, while it was flat inside GPE, PERSON said.
The IV business generates PERCENT of Baxter's cash flow and is feeling pressure from the continuing cost containment push in the healthcare industry, he said.
The IV segment accounted for PERCENT of DATE sales. DATE, that share is likely to fall to CARDINAL of sales, based on Baxter sales growth estimates.
--Chicago Newsdesk 312-408-8787","Major retailers reported mixed results DATE for DATE, sparking a drop in their stocks on Wall Street.
The preliminary holiday reports by ORG, ORG, ORGamp; Co. and others are ""further confirmation that DATE was CARDINAL of moderate growth,"" ORG retailing analyst PERSON said.
""There's a lot of nervousness about retailers and what they're going to report. It's definitely taking a toll on the stocks,"" said ORG retailing analyst PERSON.
ORG said sales for DATE were close to the GPE, GPE-based company's goals but that markdowns were higher than expected.
Total sales, including drug store sales, for the period were MONEY, a PERCENT increase from the MONEY in sales for the comparable period in DATE.
Same-store sales at ORG, not including drug stores, for DATE period increased PERCENT over DATE. The company did not release dollar figures for same-store sales, which cover stores open DATE.
The company also said it expected DATE earnings before charges would not meet Wall Street expectations and that profit margins for DATE were below planned levels.
ORG stock dropped $MONEY to $MONEY in TIME trading on ORG.
PERSON said same-store sales at its CARDINAL department stores in the LOC, CARDINAL Target discount stores nationwide and CARDINAL ORG's discount stores in the LOC and LOC were up PERCENT for DATE. The GPE-based company did not give dollar figures.
""Results at ORG and ORG's for DATE were on plan, while department stores sales were below our expectations,"" Chief Executive PERSON said in a statement. ""With the shorter selling DATE, we planned our sales conservatively and generally met our plans for the season.""
PERSON department store sales increased PERCENT, ORG's sales decreased PERCENT and ORG sales rose PERCENT, the company said.
PERSON stock fell MONEYMONEY on the ORG.
PERSON reported a PERCENT increase in sales to MONEY for the DATE period. Same-store sales rose PERCENT.
""The sales results during DATE were in line with my expectations,"" Chairman PERSON said in a statement.
But the GPE-based company, which operates CARDINAL department stores and CARDINAL furniture stores, said it expected DATE sales results for DATE will fall slightly below those for the DATE period ended DATE.
PERSON and PERSON expect to report DATE results DATE.
DATE, GPE-based ORG warned that holiday sales would decline from DATE levels and that earnings would be below Wall Street estimates.
The reports put retail analysts on edge, but they remained confident that other big names, such as GPE's ORG, ORG of GPE, and ORG, of GPE, would meet or exceed expectations.
""My impression is that DATE did okay. Federated looks like they're on plan and for ORG, we're looking for DATE,"" said ORG analyst PERSON.
A big factor in the mixed sales performance for DATE was the fact that it was DATE shorter than DATE since the DATE holiday was later.
""None of us knew what DATE would do ... to the mechanics of the season,"" said ORG PERSON.
The net result was that most big sales gains were restricted by the shortened DATE, while mediocre showings were made worse by it, analysts said.
""You came out with a trend line not dissimilar to what we've seen DATE, which is modest growth,"" PERSON said.
PERSON stock dropped MONEY to $MONEY on the ORG. Among other retailers, ORG dropped $MONEY to $MONEY and DATE fell MONEY $MONEY, both on the ORG.",1
"GPE has ordered CARDINAL GPE democracy activists to leave the country after they tried to petition GPE officials over the political future of the colony, GPE sources and NORP media said on DATE.
GPE police had told activists PERSON and PERSON to leave GPE, the official ORG said.
GPE sources said the CARDINAL had been trying to petition officials over what they called the ""undemocratic"" methods being used by GPE to select a chief executive to run the NORP colony after it reverts to GPE rule on DATE.
""ORG issued a warning to Chui and GPE, asking them to return (to) GPE within a stated time,"" ORG said.
It was not clear if the CARDINAL campaigners, both members of local councils in the NORP colony, had already left GPE.
Officials of a GPE hotel had filed a public disturbance complaint against the CARDINAL for distributing materials to reporters in the hotel on DATE TIME, ORG said.
Anxiety has grown in GPE in DATE over how much political freedom GPE will allow after it regains control of a colony run from GPE for DATE.
The jailing of leading NORP dissident PERSON for DATE by a GPE court on DATE awakened fears that those who criticised the post-handover, GPE-backed administration could face a similar fate.
NORP authorities, currently overseeing the selection of a group to choose GPE ORDINAL post-colonial chief executive, also barred CARDINAL other pro-democracy advocates from entering the country on DATE, activists in GPE said.
Officials at the Sha Tau Kok border post refused entry to Andrew To and PERSON of GPE after keeping them in a room for TIME, To told ORG.
All CARDINAL activists had planned to lobby the GPE-selected ORG that will select the committee to decide the chief executive, and to appeal for a reprieve of GPE current elected legislature, which GPE has vowed to scrap.
A copy of a statement by the activists obtained by ORG accused GPE of using undemocratic methods to choose the chief executive and condemned the decision to bar their colleagues from entering the country.
Their petition urged GPE to scrap a plan to appoint a provisional legislature in place of the elected ORG, and demanded the territory's future leader be elected instead of chosen by a GPE-controlled selection committee.
GPE, which has bitterly opposed democratic reforms introduced in GPE in DATE, says the official ORG will be well equipped to represent the will of the colony's CARDINAL people.
The rules for choosing the chief executive would guarantee a selection that was fair, honest and without corruption, NORP Vice Premier PERSON told ORG members in a speech on DATE.
Analysts said a list of candidates for ORG released on DATE was dominated by ORG politicians. ORG was scheduled to vote on the list on DATE.
GPE has agreed to retain GPE capitalist system for DATE but officials have suggested that freedom of expression in the bustling colony would be limited after the transfer.
A survey published on DATE said most businessmen in GPE expected press freedom, the political system and human rights to deteriorate after the return to NORP rule.","GPE on DATE used a Long March 2D rocket to fire a scientific research satellite into orbit from a base in the remote northwestern province of GPE, the ORG said.
The successful launch of the remote-sensing satellite followed a string of setbacks for the NORP space industry that have sent insurance premiums for commercial launches soaring.
""The satellite went smoothly into orbit and all instruments aboard are operating well,"" ORG said.
The launch of the satellite, which is designed to spend DATE in orbit before returning to earth for retrieval, was the ORDINAL successfully completed by the CARDINAL-stage, liquid-fuelled Long March 2D rocket, the official agency said.
GPE's space industry, once much admired for its bargain prices and its strong track record of launch successes, has been plagued by problems in DATE.
In DATE, a domestic communications satellite launched aboard a Long DATE rocket from FAC in the southwestern province of GPE failed to reach its proper orbit.
In DATE, DATE 3B carrying an ORG satellite veered TIME after lift-off before exploding in mid-air near the GPE space centre.
GPE said CARDINAL people were killed, CARDINAL injured and CARDINAL homes destroyed in the incident. Video footage smuggled out of GPE by an NORP scientist showed CARDINAL of levelled buildings and suggested the casualties were higher.
NORP officials said the loss of the rocket and its payload was caused by a failure of the ""inertia platform"" that operates the rocket's directional controls.
In DATE, a Long March 2E rocket blew up, killing a family of CARDINAL in a rain of debris and destroying the ORG-built PERSON satellite it was carrying.
The failures, although hardly exceptional in the high-risk satellite business, have sent insurance premiums for NORP launches soaring, eroding GPE's price advantage over NORP and NORP competitors.
Several launch contracts with foreign companies were cancelled following the setbacks, partly because of concerns over delays due to GPE's launch backlog.
GPE says it still has a high success rate, with only a handful of the CARDINAL launches carried out by its Long March rocket series going wrong, and officials said DATE they had tightened safety measures to prevent further disasters.
NORP vehicles would now self-destruct in the case of failure and officials would ensure people living nearby are evacuated before each launch.
In DATE, GPE took a step towards restoration its reputation for reliability when it successfully launched the ORG 1A satellite.",1
"An inaccessible, romantic and mystic Shangri-la where NORP police torture NORP monks is a common Western view of GPE.
A mysterious, terrifying land where lanterns are made from human skin, skulls are used for goblets and slavery is a recent memory is a widespread NORP view of this far-flung outpost of GPE's rule.
Somewhere in between may lie the truth.
""GPE is constantly used as a EVENT icon by NORP opportunists,"" said PERSON, who runs the GPE-based ORG that specialises in providing data on the human rights situation in GPE.
For NORP prostrating themselves before their beloved NORP shrines, buying chunks of yak meat in the GPE market or cycling to a disco in the evening, such issues seem far removed from their daily lives.
GPE's capital GPE, CARDINAL of the world's highest cities at QUANTITY (CARDINAL ft), has the air almost of a LOC town that is rushing to catch up with the rest of the world.
The tap of hammers and roar of drills signal a construction boom that is transforming meadows and wasteland on the edges of the ancient city into a NORP town like any other.
Many Western human rights groups and ORG activists cry foul. They speak of the sinicisation, the NORP NORP invasion of a land that belongs to NORP. They say that wealth is being concentrated in the hands of a few NORP at the expense of the indigenous people and NORP culture is being annihilated.
GPE says NORP in the region number CARDINAL while NORP total CARDINAL. No figure is given for the military presence in the strategic region that borders GPE, with which NORP troops have fought numerous skirmishes in DATE and last went to war in DATE.
Official figures show an economy growing by PERCENT a year, with rural per capita incomes MONEY ($MONEY) while urban incomes are MONEY ($MONEY). Both are still CARDINAL the national average but are increasing rapidly.
GPE chooses to compare the present standard of living with the traditional feudal system of serfs, many now officials, that persisted until well after ORG troops marched into GPE in DATE.
CARDINAL NORP bus driver boasted of earning MONEY ($MONEY) a day, a princely sum even for a GPE cab driver.
Western activists prefer to heed the cause of the exiled PERSON, spiritual leader of GPE and winner of the DATE WORK_OF_ART for his peaceful struggle for autonomy for his homeland since he fled after an abortive uprising in DATE.
""There are a lot of former hippies getting into something they think is an easy ride,"" PERSON said.
""I do think things are enormously oversimplified,"" he said. ""But fundamental disdain in GPE for NORP rule is so prevalent and of such long standing that in many cases it constitutes the basic context or tone within which other events have to be placed.""
NORP exiles report a revival of traditional NORP ways in rural areas, pilgrims come freely to worship in GPE and commerce involving NORP apparently thrives on almost every GPE street corner.
In the main square in front of GPE's GPE temple, the NORP holy of holies, ragged pilgrims with matted hair prostrate themselves in medieval religious fervour and warrior merchants from the eastern PERSON region mingle easily and chat in the marketplace with plainclothes NORP police.
To the visitor, there is little immediate sense of the NORP tension that prompted angry monks to riot against NORP rule in DATE.
There is little doubt GPE would move swiftly to crush political opposition, as it does elsewhere in GPE. Officials say they are determined not to permit any infringement of NORP sovereignty and warn repeatedly of the threat from what they call the ""Dalai Lama splittist clique"".
""NORP are resigned to it and accept the way things are,"" said CARDINAL foreign resident who declined to be identified.
""They put up with the situation,"" he said. ""There's enough control here that it would cut off anything before it got started.""
But any military presence is not overt. Few soldiers are visible in the streets, apparently keeping to their barracks on the city outskirts, as in other NORP towns, where they can be seen planting trees and whitewashing walls.
While photographs of the exiled Dalai Lama are nowhere to be seen following a ban DATE, pictures of GPE's ORDINAL holiest monk, the late ORDINAL PERSON, and his DATE official reincarnation are everywhere.
NORP homes that in DATE were required to fly the red NORP national flag now appear free to fly just their own colourful prayer pennants.
Human rights groups say dissidents and monks languish in jail for demanding independence. Many NORP appear to have more immediate concerns, such as making enough money from new business opportunities to buy a colour television, build their own home or send their children to school.
ORG activists in the West paint a much harsher picture of life in Shangri-la under NORP rule, and a GPE fighter on display at the foot of the legendary FAC, towering over the capital, could be seen as a symbol of what they would call NORP occupation.
But shades of grey exist.
""One of the great misfortunes of the NORP has been that they have attracted a number of westerners or exiles who have simplified the issues and given the impression that NORP are averse to development,"" PERSON said.
""Most people in GPE want modernisation but feel they are under foreign rule.""","NORP nickel giant ORG has a growing appetite for expansion and is poised for growth through acquisition and exploration, the company's new chief executive officer said in an interview.
""The appetite of this company is much higher than what it used to be,"" PERSON told ORG on DATE. ""ORG is in very good shape financially DATE, which means that we have the ability to grow.""
Hushovd, DATE, replaced PERSON as chief executive DATE after ORG died suddenly at DATE during a business trip in GPE DATE.
Hushovd, originally from GPE, has worked for ORG for DATE.
He spent DATE working closely with ORG in the position of executive vice-president and was chairman of the steering committee that put together a strategic plan to carry ORG into DATE.
""I don't see a need to revolutionize ORG,"" he said. ""The backbone of ORG is nickel, and copper is another leg of ORG. It will probably be like that in the future.""
However, GPE is not content simply to sit back and let the long-term strategic plan unfold.
The plan calls for ORG to double its DATE nickel production to QUANTITY and triple its copper production to QUANTITY a year, within DATE.
To do that, ORG needs to find growth opportunities, especially since the company lost a bid to take over the huge GPE's Bay nickel, copper and cobalt deposit in remote GPE, said PERSON.
Ongoing work in GPE, GPE and GPE should complement plans to start producing nickel by DATE at the PERSON project in GPE and plans to produce copper by DATE at the ORG joint venture project in GPE, ORG said.
In GPE, ORG joined a consortium in DATE to develop the FAC copper mine, in which ORG is partners with GPE ORG and ORG
In GPE in LOC, ORG is poised to gain access to nickel reserves to supply a nickel plant planned in the north of the country. The board of GPE's Eramet on DATE said it had agreed to reallocate its mining reserves in GPE, which would give ORG access to ORG's PERSON field.
Hushovd does not intend not stop there.
""ORG has always been very strong in exploration,"" he said. ""We felt we lacked the business development infrastructure.""
So DATE, the company set up a business development group, to search out growth opportunities either through exploration or acquisition.
While ORG would not hint at specific acquisition targets, he stressed, ""I want properties that are not only profitable DATE but are also profitable in the future.""
In any future acquisitions, ORG can probably count on support from its powerful majority shareholder, ORG, which owns PERCENT.
""We have a big owner, which means that hopefully we can pursue things that might be tough to pursue on our own,"" PERSON said. ""We can have a bigger appetite than the company on its own would have.""
Hushovd said he had no immediate plans to boost the company's share price, which peaked at C$MONEY in DATE but is currently trading MONEY.
He noted that the stock normally reflects the nickel price, which has failed to meet expectations in DATE.
""I think we all had very high hopes for nickel DATE, and the market did not turn out the way that we had forecasted,"" he said.
As for DATE, ""I feel it's difficult to give a prediction at the present time. Fundamentally I do believe we're going to see better prices in CARDINAL than we did in CARDINAL,"" PERSON said.
((ORG CARDINAL 941-8100))",0
"A GPE defence team found human remains and parts of an NORP bomber on DATE after making its way up a steep mountain slope in southwestern GPE to inspect a recently found EVENT crash site.
The officials clawed their way up the slippery, granite face of GPE mountain in GPE and pronounced the mission a success despite the injury in a fall of a GPE reporter accompanying them.
""We consider this a very successful mission,"" said PERSON, deputy director of the ORG (Missing in Action/Prisoner of War) office under ORG.
Speaking to reporters in the town of PERSON after returning from the site late on DATE, he said findings confirmed information about the fatal crash that occurred on DATE.
The PRODUCT bomber with its CARDINAL-man crew never returned from a raid on NORP ships around GPE.
""Any step that we can take to bring a case closer to resolution and to provide a family some answers ...indeed gives us some satisfaction,"" Liotta told reporters.
The CARDINAL-man forensic team from ORG flew into the GPE region on DATE to try to recover remains and learn more about the crash.
Local residents, searching for wild herbs in the region's thick forest, discovered the crash site DATE.
GPE officials ORDINAL learned of the find when NORP President PERSON handed over a video and photographs of the crash site to President PERSON when the CARDINAL met in GPE DATE at FAC forum.
NORP Defence Minister PERSON gave GPE Secretary of ORG PERSON two dogtags recovered from the site during a meeting in GPE DATE.
NORP authorities will turn over some of the remains later on DATE and a formal ceremony is to be held in GPE on DATE.
The human remains would be taken back to GPE for identification, ORG said.
The GPE team's elation at reaching what was left of the bomber was dulled by an injury to ORG journalist PERSON who was knocked unconscious briefly after she slipped QUANTITY (yards) down a slope returning from the site.
PERSON lost her footing as she made her way across the moss-covered face of the mountain. A doctor at the scene said her injury was not serious but she was taken by ambulance to a hospital in the city of GPE.
""This was extremely treacherous terrain and a very difficult climb,"" said ORG.
Journalists who made the trek to the site saw a pile of charred and twisted metal wedged into a narrow crevass on the mountain side. Higher up the slope was a chunk of the plane's fuselage along with part of an engine, also wedged into rock.
""We had a total destruction of the aircraft,"" Liotta said.
CARDINAL farmers hunting for wild herbs found the crash site and alerted officials. They will receive MONEY ($MONEY) each as a reward from the state, local authorities said.
GPE officials said they had made contact with all CARDINAL families of the crewmen aboard the plane.
They also said the site appeared to have been untouched for CARDINAL a century.
""It's no wonder it took DATE to discover the site,"" said PERSON, a forensic anthropologist with ORG in GPE.
""We are truly talking about an extremely remote, isolated area.""","NORP President PERSON, in a new overture to rival GPE, on DATE called on NORP from all walks of life to offer their views and suggestions on ways to reunify the mainland and the island.
""We welcome NORP people of all circles to raise beneficial ideas and suggestions on peaceful reunification,"" PERSON said in a EVENT address broadcast on state television.
PERSON's proposal was seen by some NORP analysts as a possible step away from paramount leader PERSON formula of ""CARDINAL country, CARDINAL systems"", long rejected by GPE's leadership.
Under the formula the CARDINAL sides would reunify, with GPE enjoying autonomy and maintaining its own army.
""PERSON is trying to be flexible and open-minded on the GPE issue,"" said CARDINAL GPE watcher who declined to be identified.
PERSON is eager to secure a place in modern GPE's history alongside PERSON, who established GPE, and PERSON, who cemented the return of the NORP colony of GPE to NORP rule.
""This is the carrot following the stick that GPE wielded DATE,"" the analyst said.
Ties plunged DATE when GPE conducted war games and missile tests in waters close to GPE in the run-up to the island's ORDINAL direct presidential elections.
PERSON, who doubles as the ORG chief, told GPE's leadership to work to repair strained ties and said reunification was the common wish of all NORP people.
Achieving reunification at the earliest possible date was in the interests of mainlanders and residents of GPE, he said.
""The NORP authorities would be well advised to put the interests of the nation ORDINAL and to stop all activities of splitting the motherland,"" PERSON added.
GPE has viewed GPE as a rebel province since the end of EVENT in DATE and suspects the island is covertly seeking independence. GPE says it wants reunification, but on different terms.
PERSON said GPE would continue to push for direct transport and trade links with GPE, which have been banned for DATE.
GPE warned GPE earlier on DATE that its tight controls on trade with the mainland were harming economic ties but said links could be helped by the return of GPE to GPE's rule DATE.
""If the GPE authorities continue to pursue a policy of tight controls, circumstances will not be good for trade contacts,"" the official ORG said.
This was ""something that we do not want to see"", the agency quoted PERSON, an official of ORG, as saying.
But ORG said he believed the return of GPE to NORP rule on DATE, and the possible entry of GPE into ORG (ORG) would ""provide good opportunities for developing economic and trade exchanges"" between GPE and GPE.
Indirect trade between GPE and GPE was worth MONEY in DATE, up PERCENT compared with DATE, the island's ORG said at DATE.",1
"A GPE ORG judge DATE barred new federal regulations that allow credit unions to expand their membership beyond workers at CARDINAL company, saying this would exceed the legal limits of the institutions.
The rules have raised the ire of banks who, fearing the loss of customers, have been battling in court since DATE to keep credit unions to their traditional role of serving members of just ""CARDINAL"" community or occupation.
The new rules, which ORG adopted DATE after an unfavorable court ruling, redefined ""a single common bond"" that is the basis of credit union membership.
On DATE, Judge PERSON issued an injunction blocking the new rules, saying they were merely an attempt to circumvent earlier court rulings.
Earlier court rulings limited members of a credit union to a single company or organization. The court actions struck down a DATE NCUA decision allowing credit unions to draw members from multiple companies.
Under the latest NCUA rules, credit unions could include members of a single trade, industry or profession even if the members worked for different companies.
PERSON chastised the NCUA and said the federal credit union regulator was acting more like a trade association.
PERSON also said the agency must rescind CARDINAL applications that it had already approved for credit union charters under the new rules.
The judge said he might refer the matter to the attorney general for further investigation of what he termed collusive behavior among the agency and credit unions.
""Why did you go about it in such a surreptitious, collusive, underhanded way?"" PERSON asked lawyers for the agency at a hearing DATE.
PERSON, a lawyer for ORG, denied the agency had acted improperly and said the new rules were a response to emergency conditions.
The fireworks were the latest development in a DATE case before PERSON pitting ORG against the agency and the credit union industry.
In DATE, the ORG and CARDINAL GPE banks filed suit againt ORG, which had grown to encompass members from CARDINAL different occupational groups.
In DATE, a ORG handed the banks a major victory in the case, ruling that the NCUA had exceeded its statutory authority in allowing single credit unions each to serve members of CARDINAL employer.
PERSON issued injunctions in DATE implementing the ruling. The injunctions limited CARDINAL non-profit credit unions nationwide to members who share a ""single common bond.""
The credit union industry has said the injunctions will result in CARDINAL of people being expelled from credit unions, with some unable to afford similiar but more expensive services from banks.
DATE after PERSON issued the injunctions, the credit union agency adopted new rules, now set aside, to dramatically expand the definition of a single common bond.
The new rules also allowed credit unions to have CARDINAL members, up from CARDINAL under the old rules.
After the hearing, PERSON, general counsel for ORG, said the industry was considering an appeal.
""Clearly, we're disappointed with the ruling,"" she said. ""Basically, banks are trying to aggressively protect their competitive interests and the NORP consumer loses.""
PERSON, president of the trade association GPE's ORG, praised PERSON's ruling. ""The NCUA has clearly stretched the law's common bond requirement beyond all recognition,"" he said.","The contest for power in GPE heated up at DATE as the pro-GPE lobby cast a top judge into the race as the candidate to lead the territory after sovereignty reverts from GPE to GPE in DATE.
Controversial Chief Justice Sir PERSON re-emerged as a rival to existing favourites after influential pro-Beijing publisher PERSON said he would nominate him and that the judge was keen to take up the challenge.
GPE, the last significant outpost of the NORP empire, reverts to GPE on DATE, ending a century and a CARDINAL of colonial rule.
GPE is setting up a CARDINAL-member panel called ORG, which will nominate the ORDINAL post-colonial governor, to be known as ORG, and appoint a provisional legislature to replace the present elected ORG.
Nominations in the DATE process to create the committee close in DATE time, and CARDINAL nomination forms have been requested and issued.
GPE has ruled out a universal democratic vote by GPE people to pick their post-handover political leaders.
The committee is expected to pick the chief executive around DATE.
PERSON's return to the contest comes as a surprise after he faded from the picture DATE in a row about his remarks on human rights.
Lawyers and pro-democracy politicians attacked him DATE after he said LAW, which was introduced in GPE by the colonial administration and which GPE plans to dilute DATE, had sown chaos in the judiciary.
The DATE GPE-born lawyer left his home to study law in GPE after the NORP took power. He later settled in GPE, where he has worked for DATE in the judiciary.
A poll DATE showed the public's hot favourite for post-colonial leader is PERSON, the colony's Chief Secretary and deputy to NORP-appointed Governor PERSON. She scored a stunning PERCENT of respondents' support.
Runner-up in the poll was shipping magnate PERSON with PERCENT, and the leader of the biggest political party, ORG PERSON, came ORDINAL with PERCENT.
But GPE has kept PERSON and his NORP out of the handover stakes and he has scant chance of being nominated.
Chan is also unlikely to be accepted by the committee because she is closely identified with GPE. DATE a top NORP official attacked GPE's chief diplomat in GPE for touting GPE's favoured candidate -- presumed to be Chan.
The poll showed PERSON would come into the picture if neither PERSON nor PERSON were candidates. In that case PERSON would get PERCENT, but PERSON would rise to PERCENT.
However, ORG is what will count, not public opinion, and GPE has insisted the nomination list remain secret, arousing suspicions of foul play.
PERSON said PERSON was happy to be proposed by him and that the judge's independence was a strong factor.
""A judge has no business connections, and there are many against Mr Tung because of his business background,"" PERSON said.
PERSON, a senior member of the panel overseeing the entire handover process for GPE, said PERSON was ""unbiased and neutral"".
Political analyst PERSON said the latest move showed GPE seemed undecided who it wanted in charge in GPE.
""Sir PERSON, a judge not known for his business links, might not be the perfect choice, but he might yet win out as a compromise figure,"" PERSON wrote in LOC.
The chief justice was out of town on DATE and unavailable to comment.",0
"ORG said on DATE it will spin off its chemicals business in a long-awaited and costly move that will allow the company to focus on its faster-growing agriculture, food and healthcare units.
CARDINAL jobs will be eliminated in the transaction, causing the company to take a MONEY DATE charge against earnings, it said.
""What they're trying to create is one company that's clearly focused on growth and one that's clearly focused on efficiency,"" said ORG industry analyst PERSON.
GPE, Mo.-based ORG is a far-flung conglomerate whose varied products include ORG weed killer, NutraSweet sweetener, carpet fibers, and drugs for treating arthritis and insomnia, as well as genetically engineered corn and soybeans.
Wall Street had long expected the giant company, which has MONEY in DATE sales, to break itself up.
""It was a fait accompli,"" PERSON said. ""The market likes companies that are less diversifed.""
The pared-down ORG will focus on its higher-profit margin agricultural, pharmaceuticals and biotechnology businesses, a spokesman said.
The new chemicals business will have to emphasize production efficiencies in a market subject to cyclical sales trends and intense global competition, analysts said.
""After careful consideration, we're convinced these businesses must operate separately to reach their maximum potential and thereby unlock significant value in both,"" ORG Chairman PERSON said.
PERSON will head the post-spin-off ORG and Executive Vice President PERSON, who runs the chemicals business, will run the new company, still unnamed, ORG said.
The scope of job cuts coming with the spin-off has not been determined, but more details will likely be available by DATE, a spokesman said.
Monsanto employs CARDINAL people around the world. The anticipated cuts would reduce that headcount by PERCENT, the company said.
The tax-free spin-off proposed would create a new firm by DATE. Current ORG shareholders would keep their ORG shares and get shares in the new concern as a special dividend, the company said.
ORG said its directors approved the spin-off.
The company also said the exact amount of the after-tax charge, which is to cover the costs of job reductions, asset and equipment write-offs, and consolidation of some manufacturing and offices, would be fixed at DATE.
Analysts estimated the CARDINAL-time charge would total MONEY per share.
Monsanto, which reported DATE profits of MONEY, or $MONEY a share, is expected to post per-share profits for DATE of $MONEY, according to ORG, which tracks analysts' projections.
ORG said in DATE it was considering options for its chemicals business, which had MONEY in DATE revenues but is growing less rapidly than other units and is subject to more ups and downs.
""Chemicals would hurt the multiple of the company if they held onto it ... because the chemicals growth rate is not as high as the agriculturals growth rate and the earnings are more cyclical,"" said ORG industry analyst PERSON.
The chemicals business -- making acrylic carpet fibers, plastic interlayers for glass, industrial phosphorus compounds and other products -- was shopped around for DATE, but no buyer was found, in part for tax reasons, analysts said.
ORG said the spin-off requires shareholder approval and clearance by government agencies and ORG for it to be tax-free.
The spin-off is intended to be completed no later than DATE. Until then, the CARDINAL companies will operate separately within ORG beginning DATE, it said.
ORG's stock slipped MONEY to $MONEY in TIME trading on ORG.","ORG Chairman PERSON said DATE he expects electronic technology to replace open outcry trading in DATE.
""I would think that in DATE, there will be some kind of technology that will replace the traditional, open outcry market,"" ORG said in answer to a student's question after a speech at ORG.
In the past, the ORG has said it views electronic trading as a supplement to open outcry pit trading, which it has said provides maximum integrity and liquidity at minimum cost.
A CBOT press release distributed after ORG's speech quoted him saying that ""electronic trading ... supplements open outcry during TIME and the TIME session.""
In answer to the student's question, ORG remarked that his DATE son, a CBOT member allowed to trade in the pits, has ""got DATE left"" in his trading career.
Arbor added, ""Technology is the wave of the future. There's no question about it.""
Electronic trading remains a small part of the total volume of trading done on the CBOT, but is growing rapidly.
Total trading volume on the exchange in DATE was more than 210 million contracts and ORG predicted record-setting volume in DATE. Electronic trading increased to an average DATE volume of CARDINAL contracts in DATE from CARDINAL contracts in DATE, when it commenced.
""The growth of electronic trading is here. It's going to continue,"" ORG said.
He said he expects the CBOT -- the world's largest futures exchange -- soon to move away from paper orders. He said, ""My prediction would be that in DATE, ORG floor ... will be completely paperless and pretty much automated as far as the entering and exiting of orders.""",1
"Calling it a crucial change for how it develops new cars and trucks, ORG DATE launched a new computer-aided design project based on a computer program from ORG..
ORG said the new project, called C3P, will cut prototype costs by PERCENT; improve investment efficiency by PERCENT; and eliminate CARDINAL of costly late development changes.
""The new C3P initiative represents the most fundamental change of the engineering computer infrastructure in ORG's history,"" PERSON, director of product development systems at ORG's ORG, said in a statement.
Officials did not specify any dollar amount savings. But executives said they fall under previously disclosed product development cost savings. CARDINAL new vehicle programs started DATE will use ORGOnce the program is fully implemented in DATE, ORG said it will merge computer-aided design, manufacturing and engineering functions into a seamless, unified system encompassing all stages of vehicle and component development.
ORG's decision to team up with ORG (SDRC) raised eyebrows at competitors. The ORG, GPE-based firm is a small player in the market of supplying computer aided design and manufacturing systems (ORG/ORG) to the auto industry, according to both competitors and analysts.
""You just don't hear about SDRC,"" said PERSON, an executive engineer at ORG
Bienkowski also chided ORG for launching a new design program DATE after ORG did.
""We made the decision to go to a single system like C3P back in DATE,"" he said.
ORG, as well as several other NORP and NORP automakers, use the more popular CATIA program from GPE-based ORG and ORG..
PERSON, president of market research firm ORG in GPE, GPE, said the SDRC system is an easy-to-use, powerful system that should serve ORG well.
""All in all, I don't think ORG made a bad decision,"" he said.
ORG made the C3P announcement as part of a DATE presentation to reporters touting the No. CARDINAL GPE automaker's computer capabilities. Among other news items announced DATE, ORG:
-- plans to eliminate PERCENT of its physical prototypes by DATE in favor of electronic versions. Physical prototypes now constitute PERCENT DATE;
-- will be able to conduct a computer-simulated frontal crash for $MONEY in DATE, compared to the $MONEY it currently costs;
-- will introduce a production car in LOC in DATE that was designed almost completely using computer technology.
ORG executives were hard-pressed to assign dollar amounts to all of the new computer design and prototype initiatives.
But PERSON, director of advanced design at ORG, said the new systems dramatically improve quality and free designers and engineers to take more risks.","A conservative forecast for DATE, calling for profits near DATE levels, helped push ORG stock lower despite record earnings reported for DATE.
But the outlook was also causing some analysts to question the conservatism of the Peoria-based heavy equipment maker.
""ORG always looks at the glass being CARDINAL empty,"" said PERSON, an analyst at ORG ""We think it's half full.""  
""We expect a better GPE economy,"" PERSON said. ""We don't expect housing starts to be off."" He noted that ORG Chairman PERSON made positive comments about the economy DATE.
But ORG said in its earnings statement that it expects GPE gross domestic product growth of PERCENT in DATE, slower than in DATE.
PERSON is also more optimistic about NORP growth than ORG.
""Clearly, as far as we're concerned, there's a turn up on the way in LOC,"" he said.  
But in ORG's view, bullish factors will be offset by delays of infrastructure products as countries impose fiscal restraint to meet the entry criteria for ORG.
ORG reported earnings of MONEY, or $MONEY a share for DATE, above the $MONEY a share reported in DATE and the consensus estimate of $MONEY a share reported by ORG  
But the stock was down CARDINAL at CARDINAL DATE, mostly because of the outlook.
""It's basically 'CARDINAL,"" PERSON, an analyst at ORG, said of the stock's downturn. But she noted that CARDINAL-time currency factors helped boost the earnings above estimates.
""It comes across as a surprise, but it's not necessarily a surprise from operations,"" PERSON said.
Still, despite ORG's guidance on profits in DATE, PERSON and other analysts are sticking by estimates showing earnings per share climbing from the $MONEY reported in DATE.
PERSON estimates earnings of $MONEY a share for DATE.
PERSON, an analyst at ORG, is even more bullish, forecasting earnings of $MONEY a share.
""It doesn't look like there's anything in the outlook statement that would cause us to be concerned with DATE,"" Brumley said, noting that share repurchases, gains in the engine business from a recent acquisition and price gains from new products should boost earnings.
""Even assuming flat unit sales, you're not going to see a flat bottom line,"" he said.
((GPE newsdesk CARDINAL DATE))",0
"Shares of leading GPE technology companies, already trading near all-time highs, languished on DATE as DATE earnings raised concern that growth would be strong enough to push them to new peaks.
Intead, the sector was raked by profit-taking after a strong run-up in stock prices TIME DATE.
Several analysts and traders expressed concern over the lagging performance of top issues such as ORG and ORG, which have taken hits even after healthy earnings reports.  
ORG was down CARDINAL at CARDINAL DATE, despite DATE earnings that beat expectations by a nickel a share.
ORG slid CARDINAL at CARDINAL, DATE after it reported DATE earnings MONEY above the Wall Street consensus.
ORG was trading CARDINAL points lower DATE at CARDINAL, continuing a retreat from the record level of CARDINAL it hit after its earnings release DATE.
""Some companies are doing better (earnings-wise) and stocks are trading down,"" said CARDINAL trader. ""Not that there's anything we have seen in the quality of earnings or the outlooks coming from a lot of major companies,"" he said.  
But other analysts argued that the lack of follow-through on recent share gains showed appropriate concern over valuations on the stocks, which had enjoyed a healthy rebound after the beating they took in DATE.
""They had a big run and they basically delivered what they are supposed to deliver,"" said PERSON, president of trading firm ORGamp; Co.
ORG stock, for example, had been trading at record highs for DATE recently. It reached above CARDINAL at CARDINAL point on DATE, a record intraday level for DATE.  
""These stocks have come very far in a short amount of time,"" said PERSON, market strategist for ORG of the sector's lagging share prices.
""We have just got earnings out of the way and now we are going to take some profits,"" he said of the market's reaction.
Other analysts noted how several once high-flying computer stocks have yielded disappointments this earnings DATE.
ORG shares suffered a pounding DATE after it reported a net loss. The stock was down CARDINAL of a point on DATE TIME at CARDINAL, a new year-low.  
Earlier on DATE, ORG reported a loss in DATE of $MONEY, well below the estimated loss of $MONEY per share analysts had been expecting. ORG was trading at DATE low of CARDINAL, off CARDINAL.
ORG was down CARDINAL at CARDINAL on DATE, continuing a decline seen since it disappointed investors DATE by failing to deliver the strong upside earnings surprise now demanded of such high-growth companies.
Prior to ORG's report, the stock had reached above CARDINAL, or PERCENT above its level in DATE.  
A few analysts speculated that the lack of follow-through as expressed in share price gains may be tied to a retincence by technology executives to offer guidance on the future and thereby offer fresh reasons to propel these stocks forward.
DATE, officials at industry bellwether ORG refused to offer their typical outlook on industry trends, citing fears of shareholder lawsuits that might result if a GPE ballot proposal were to pass in DATE.
But others heaped scorn on the idea that possible passage of state initiative LAW was in any way depressing the stocks.  
""Proposition 211 is irrelevant to the market activity we are seeing,"" said PERSON, a technology stock portfolio manage with Strome, Susskind Investment Management LP in GPE, GPE
""The reason is that people are looking at the DATE financial results and the share price valuations and they see a mismatch,"" he said.
NORP said it was reasonable to question the valuations of even a premier name like ORG, shares of which he noted have appreciated CARDINAL since DATE.
""What would be of concern would be if people weren't asking questions about the valuations of these stocks,"" he said.
-- PERSON, GPE, CARDINAL-859-1736","Promising the computer industry equivalent of universal harmony, a U.S.-based start-up formed by a brain trust of NORP computer scientists DATE unveiled a technology that promises to overcome barriers dividing users of rival software programs.
ORG said its set of software technologies allows computer users to manipulate information from any application while retaining all formatting and other properties.
The system functions as an underlying layer of operating system software, but independent of any CARDINAL operating system. An operating system controls the basic functions of a computer. ORG officials asserted the system can handle text, numerical data, graphical images, video and other data, including information available only at remote Internet sites.
""This is the beginning of true software interoperability,"" Anysoft Chief Executive Illan Poreh said in a statement. ""For the ORDINAL time, all applications, including those that have not incorporated ORG, will work together.""
The private GPE, DATE firm is backed by PERSON, GPE's largest bank, and CARDINAL private investors, including several senior executives at modem maker GPE ORG..
In an interview, ORG founder ORG said the company's team of software programmers was handpicked from among top professors and graduate students at leading NORP universities, including ORG, ORG.
Industry analysts briefed on the technology hailed it as a decisive breakthrough, based on its potential to liberate computer users from dependence on any single operating system, such as ORG PRODUCT.
""This is certainly one of the most significant technologies I've seen in DATE,"" said veteran industry analyst PERSON, who heads PERSON, a GPE, Calif.-based consulting firm.
""What ORG has done is taken software interoperability beyond a forced LOC environment,"" Barjarin said, referring to the ruling combination of ORG software and ORG software and hardware systems.
Nonetheless, ORG's audacious goal is set against a history of failed industry attempts to create a universally accepted format capable of handling all types of computer data.
In DATE, leading computer makers like ORG, ORG and ORG have rallied around a common software compabability standard known as ORG.
However, this and similar initiatives have been hamstrung by competitive rivalries among industry players and the belief that programmers must unify around a single standard for creating software.
ORG's own effort at ushering in a ""Golden Age"" of software compatability has gone by several names, such as Object Linking and Embedding (OLE), and ActiveX, its Internet-based compatability standard.
But ORG's efforts have met with foot-dragging by companies unwilling to cede the software giant any more standard-setting power than it already has.
By contrast, the ANY concept is based on the seemingly simple idea that the only univeral information from different operating systems is what computer users see displayed on a screen.
""The screen is the only standard that everyone is using,"" Poreh maintained.
ORG has created software extensions that give computer users the perception of compatibility without having to address underlying programming differences that have ensnared previous efforts, he said.
ORG's go-it-alone strategy depends on seeding its technology widely among software companies, Internet service providers and large corporations developing their own software applications, all of which might include ORG's universal data routing features in their own products.
Consumers would have to wait until products using the technology become available from these companies.
ORG said he plans to charge companies using ORG technology in their products a licensing fee starting at MONEY and running MONEY, depending on the potential number of users of the product.
In addition, ORG said ORG plans to ask for a royalty of PERCENT, or a flat fee, again depending on the potential number of customers.
ANY technology is designed to extend software systems such as NORP or Lotus PRODUCT, and existing compatibility programs such as ORG  PERSON, ORG PERSON or even the Internet, rather than replace them, ORG officials said.
ORG said it has held licensing talks with CARDINAL of the world's top CARDINAL independent software development companies, including ORG.
ORG said ORG's main interest appeared to be in using ANY technology to recover data from so-called ""legacy"" applications running on older mainframe computers where the underlying software is no longer being actively maintained.
ANY technology currently works with software running on ORG's Windows operating systems. The technology is in the process of being made compatible with ORG ORG, ORG's OS/2 and the Unix-based X/Windows operating system, company officials said.",1
"The head of ORG (ORG), GPE's top financial regulator, on DATE criticised slow progress made in compensating victims of pensions mis-selling in GPE, and called on all parties to ensure a speedy conclusion to the situation.
ORG chairman, Sir PERSON, said that progress had hitherto been ""unacceptably slow"" but welcomed signs of increased commitments to a rapid resolution emerging from meetings with major firms.
Large's comments followed a statement from NORP ORG minister PERSON on DATE urging the pensions industry to speed up payment to individuals hit by pension mis-selling in DATE and DATE.
She said that she was looking for ""rapid and decisive results from the pensions industry. Targets will be set to ensure that people are put right"".
Large said he was determined to secure redress for those missold personal pensions and welcomed any contribution which helped secure that aim.
""All parties have a responsibility for bringing this review to a speedy conclusion - the industry, the occupational pension schemes, the regulators and the government.""
Large is due to stand down as chairman of the ORG in GPE
ORG's comments came DATE after the ruling ORG, facing a ORG expected to be held on DATE, announced plans to overhaul the pension system in GPE.
CARDINAL people in GPE may have been affected by being wrongly advised to take out personal pensions when they would have been better off remaining in occupational pension schemes.
An industry review was launched in DATE but only a small proportion of those affected have so far been compensated.
Latest figures on the review published DATE revealed that of CARDINAL ""priority cases"" CARDINAL people had been offered compensation.
The ORG announced a simplified pensions review process DATE in order to break the log-jam on the issue, but the results of this will not start feeding through until DATE.
ORG, which regulates the sale of investment products to the public, has been holding discussions with major pensions providers to clear the backlog.
CARDINAL of the largest life companies account for PERCENT of personal pension business. The discussions are likely to be concluded in DATE.","International insurance broker PERSON, reported a rise in DATE profits on DATE but gave a gloomy assessment of the problems of overcapacity and falling rates currently afflicting the industry.
The company said insurance rates were declining almost universally and competition in the GPE retail market was intensifying.
It also warned that the recent rise in sterling which reduced DATE profits by MONEY (MONEY) may hit DATE results and that profits from its ORG members agency were unlikely to be repeated at the DATE level.
The comments were made as NORP unveiled pre-tax profits for DATE of MONEY, a rise of PERCENT over DATE, which included MONEY in exceptional charges.
Stripping out exceptionals and disposals, profits from continuing operations were up PERCENT at MONEY.
Willis said it expected to benefit from a programme designed to enhance performance and competitiveness but the shares lost ground after the results, slipping MONEY by TIME to MONEY.
Analysts said the results merely confirmed the difficulties the sector faced.
Willis chairman PERSON, however, pointed to the rise in profits and elimination of net debt as evidence of the successful implementation of plans to restore the group's financial health.
""The group is now focused on its core operation, following a programme of disposal, profitability has been improved and the balance sheet has been significantly strengthened,"" PERSON said.
Willis also drew comfort from its success in growing revenues and despite the difficult market conditions. it said it remained sceptical about the benefits of the recent industry trend of pursuing cost economies through mergers.
""We think there are huge risks in people businessses associated with that. We have a strategy for growing our business which we're comfortable with and as far as we're concerned that's what we're concentrating on,"" group executive director PERSON told ORG in an interview.
Following the implementation of ORG and Renewal plan (R&R) the group's members agency returned to profit for the ORDINAL time since DATE.
The QUANTITY profit commission for DATE included reserves from DATE. These were partly offset by contributions of QUANTITY to the R&R plan.
NORP said present indications were that profit commission on DATE, receivable in DATE, will be CARDINAL those of DATE.
Profits for the DATE were likely to be significantly down, however, said CARDINAL analyst, and there were big questions over whether it would be profitable at all in DATE given the rating environment.
After severance costs of MONEY in the DATE figures related to the change programme, PERSON said he expected further costs in DATE to be lower.
He said a fall in staff numbers of PERCENT in DATE was unlikely to be repeated and further reductions were expected to be on a smaller scale and absorbed through natural wastage.
The change programme is expected to span DATE and DATE actions were taken to underpin it. The real effort would now be going into the longer term effort of building capabilities, skills and resources, said PERSON.
($ = MONEY)",1
"ORG Chief Executive PERSON said he expects revenues of MONEY during DATE, more than double the MONEY expected in DATE.
ORG was responding to the nose-dive in ORG stock price DATE TIME that send the stock down CARDINAL to CARDINAL. The sharp decline came after the company announced a restructuring plan that is likely to dampen near-term profits.
""We are going to more than double our revenues DATE... to somewhere MONEY,"" ORG said.  
""There is nothing but good news here,"" ORG told ORG by phone from GPE, GPE.. He was referring to the company's business prospects going forward.
He said ORG' restructuring was designed to allow it to continue to gain market share and position for it for DATE earnings growth of PERCENT through DATE.
""DATE we will be ORDINAL in the market by revenues,"" ORG said, rising from its current ORDINAL place position. ORG and ORG remain larger, he said. ""We are on fire as a company,"" he added.  
The executive blamed the volatility of the Nasdaq market and the departure of momentum players who had invested in his company recently for the tumble in NORP stock price.
In particular, he said the sell-off was sparked DATE when sellers dumped a relatively small volume of CARDINAL shares, creating the downward spiral in the stock price.
""It's one of the reasons why everyone thinks about getting out of Nasdaq,"" ORG said.  
Asked if he considered the stock a buy at current levels, he declined to comment.
In a statement released earlier, ORG said its restructuring would include charges of $5 to $7 million spread over the DATE, to ""prepare for accelerated growth over DATE.""
The company also said it had told analysts in a briefing DATE of new contract wins with ORG, ORG Communications unit and ORG.
With Ascend in particular, he said the company would be manufacturing the company's mainstream MAX TNT remote access network equipment. ""We expect (Ascend) will be one of our top CARDINAL customers,"" ORG said.
These latest wins follow a recent MONEY contract win with ORG PERSON, bolstering its already strong activity in the contract manufacturing of telecommuncation and data communciation products, he said.
Other major customers include ORG and ORG, a unit of ORGamp; PERSON.
Flextronics is GPE based.
-- GPE newsdesk, CARDINAL-859-1736","ORG unveiled a broad strategy to transform the online service provider into a mass media company in a move that further renders Internet access services a commodity business.
DATE, the world's leading online service introduced a flat-rate Internet pricing option as a part of a comprehensive restructuring plan, ending years of resistance to competing directly with Internet access providers on price.  
In addition, ORG said it hired PERSON, a prominent media executive, to head its flagship online service, and put forth measures aimed at shoring up its image with investors.
ORG had said it planned to take MONEY in charges spread over the recently ended DATE and the upcoming DATE period, mainly to cover its switch to a more conservative method of accounting for marketing costs.
The stock see-sawed as investors digested whether the near-term profits impact was compensated for by the prospect ORG would become a stable, but growing, mass media enterprise.
ORG shares had risen CARDINAL to CARDINAL in late trading DATE.  
PERSON, an online industry analyst, said ""the market is responding to the financial announcements and not to the promise of all these other plans, including what Pittman brings to the company.""
PERSON added that the restructuring plan demonstrates that ORG ""is a dynamic company that can respond to challenges decisively.
In an interview, ORG chairman PERSON said Pittman -- the broadcast executive who created ORG and made it the ORDINAL profitble cable TV company -- was hired to help lead ORG into a new era of growth by addressing the mass media market.  
While PERSON expects ORG to pass the MONEY in subscriptions late in calender DATE, ""The focus is not on getting to CARDINAL, but getting out to CARDINAL and that's what (Pittman) is focused on,"" he said of the new divsion head.
Pittman, who also took part in the phone interview, said that with TV-sized audiences on the horizon, ORG planned to accelerate its emphasis on advertising, online merchandising and sources of revenue other than subscriber fees.
""The main point is that we are really shifting the business model toward these new sources of revenues,"" he said.  
Analysts said ORG's thrust into the Internet access business will have reprucussions for rival online companies, Internet access providers and even the firms that create special entertainment and other programming for the Internet.
PERSON said the ORDINAL casualty of ORG's plans to offer seemless access to the Internet will be its own ORG Internet service, which ORG told analysts it plans to discontinue.
At a new rate of $MONEY, ORG puts itself in the same pricing league as ""pure"" Internet access providers, such as ORG and ORG, which offer little or no proprietary content.  
""What happens is that access becomes a commodity service,"" said PERSON, who heads ORG in GPE, GPE ""ORG has now defined the $MONEY a month Internet access rate as a commodity,"" he said.
However, in a phone interview, PERSON, ORG's chief executive said he expects to feel little direct impact from the ORG move, since ORG is mainly focused on serving and ""adding value"" for business customers.
Netcom, with CARDINAL paying subscribers as of DATE, is the largest independent provider of Internet access. PERCENT of ORG's customers already pay $MONEY.  
""The difference is that our product is not aimed at the consumer, the entertainment sector if you will,"" he said in contrasting ORG's core market with ORG's business focus.
Reflecting the differing demand of his base of small and medium-sized business customers, PERSON claimed that ORG turnover rates have remained relatively low and stable over DATE -- in striking contrast to ORG.
PERSON noted that GPE Online also discussed ambitious plans to develop an increasing amount of programming content for the Internet in its newly created ORG PERSON division, led by long-time executive PERSON.  
In effect, ORG is commodifying the programming content on the Web, much in the way the big GPE movie studios have dominated film and broadcast production, ORG said.
""ORG is becoming a CARDINAL-stop source for Internet access, programming content and other services,"" PERSON said. ""I expect that ORG's offerings will be totally satisfactory to the CARDINAL of users who are newbies to the Internet and a large number of heavy users who are fed up with shopping for deals.""
PERSON, an analyst at ORG, added that, ""Now there will be less confusion both for investors and for consumers as well.""
-- GPE newsdesk, CARDINAL-859-1736",1
"A reporter's call to the new director's secretary at a major NORP industrial company went something like this:
Journalist: ""Could you please tell me Mr GPE's ORDINAL name?""
Secretary, with no hesitation: ""Doctor.""
Czechs are obsessed with academic titles. It was Justice Minister PERSON's use of an unattained ""Doctor of Law"" which forced him to resign from the cabinet on DATE in a confession on the floor of parliament.
""In this society having a title plays such a role -- whether or not you have a degree,"" said PERSON, the head of research at GPE's ORG.
Normal discussions in many offices begin with colleagues addressing each other as ""Mr Engineer"" -- a title of mid-level academic specialisation -- or ""Mr Doctor"", held by many Czechs from physicians to lawyers and WORK_OF_ART-holding journalists.
PERSON was once a practicing lawyer who did complete law school but did not finish the certification process required to become a doctor of law. His colleagues and his party began using the title in literature, and he never refuted it.
His resignation came on top of the confessions of CARDINAL other deputies in the lower house of parliament who also used the unauthorised moniker, indicated by initials JUDr, in campaign material and biographies.
Apart from PERSON, only one has resigned from parliament, CARDINAL others refusing to do so.
""I suspect that there may be a few more deputies or government officials in some positions who are claiming to have degrees which they in fact do not have,"" said PERSON, a WORK_OF_ART who did not insist on the use of ""WORK_OF_ART"" for this story.
The NORP prime minister, a highly-educated economist, has the full academic title of Professor PERSON CSc (ORG, a former regional variation of WORK_OF_ART), but he does not inisist on its use by others.
Some of the title-envy stems from DATE of communism, which ended with DATE's bloodless ""Velvet Revolution"" led by a band of intellectuals and the dissident playwright PERSON.
NORP leaders insisted on an educated population, at least quantitatively, and even implemented programmes producing fast-brewed WORK_OF_ART's and engineers at colleges.
PERSON's resignation inspired commentaries on the subject of academic titles in DATE newspapers.
The DATE FAC quoted an unnamed cabinet member as saying the only minister safe from title-fixing accusations was ORG Minister PERSON -- a former dissident who the communists would never allow to attend college.
The daily ORG used the PERSON incident to pay tribute to ORG, who became the country's president after the DATE revolution.
Havel, as a dissident, was forced by the communists to work in manual jobs and was never allowed to study for a formal degree. He now has a truckload of honorary doctorates from universities worldwide.
""He made himself a name, not a title,"" ORG wrote.","GPE envoy in GPE reminded GPE on DATE of its pledge to preserve GPE ""vital"" freedoms after GPE hands the colony over to GPE DATE and said GPE would be watching.
PERSON, the ORG in GPE, stopped short of saying what his government could do for the territory if GPE reneged on its promises after it resumes sovereignty over GPE on DATE.
""As GPE heads towards the transition, the handover has been assuming higher visibility as a factor in GPE foreign policy... It is one of the key events in NORP relations over DATE,"" PERSON said.
""We have our voice, interest and participation in GPE and GPE. It is not a threat...but we want to ORDINAL see what happens,"" he said in a speech to ORG.
The freewheeling NORP colony of DATE is promised far-reaching autonomy for DATE under a NORP treaty and related documents.
Quoting the ancient NORP sage PERSON, PERSON said a measure of whether GPE was well ruled after DATE would be if ""its subjects are content and foreigners are attracted"".
He reminded GPE of its promises made about GPE -- the survival of freedom of speech, press, assembly, movement, travel, religion, among others. ""That is a sweeping, vital and unrestricted pledge,"" he said.
With DATE left under the NORP flag, GPE people are nervous over the future of these freedoms and about GPE's plan to replace their elected ORG with a provisional legislature, to be chosen DATE, overseen by GPE.
PERSON, echoing criticisms made previously by other senior GPE diplomats, described the provisional body as ""unnecessary and unjustified"".
""It is important for GPE to have a legislature that is constitutionally elected.""
PERSON refrained from commenting on whether GPE NORP residents holding GPE passports would enjoy GPE consular protection after the handover.
""We do in every case offer consular protection when we can but the question of dual nationality is very complicated...and I can't give details now,"" he said. CARDINAL GPE citizens live in GPE, many of them dual nationals.
PERSON also said GPE had signalled to GPE that ORG ships could continue to make recreational port visits to GPE after DATE, although details had to be worked out.
CARDINAL GPE warships call in at GPE DATE.",0
"The NORP crown rose on DATE to its highest level against its mark/dollar basket, buoyed by comments by Prime Minister PERSON that devaluation was not needed despite a widening trade gap.
The crown rose to PERCENT above the cross rate of the CARDINAL-currency basket TIME and dealers said that, barring any central bank intervention, the newly-liberalised currency could go still higher.
By TIME heavy buying had pushed the NORP currency to PERCENT above the basket from PERCENT at the opening.
The crown strengthened to CARDINAL to the dollar and CARDINAL to the mark by DATE ORG from DATE's central bank fixing of CARDINAL and CARDINAL.
The central bank followed the market up at its TIME fixing, setting the crown at PERCENT above parity with the basket, compared with PERCENT on DATE.
Traders saw the fixing as a signal that the bank was content with the crown's rise and the market responded.
""When the central bank followed the market, the banks realised it was still time to sell (foreign) currencies again and the central bank won't be taking any action,"" said trader GPE at ORG.
Traders said as long as the government kept talking up the crown, foreign investors would respond until the bank decided to jump in and buy foreign currency.
The catalyst for recent strength of the crown has been official comments dismissing any need to devalue the currency.
Although the trade balance showed a record DATE deficit in DATE of CARDINAL crowns, the market responded to comments made by ORG in Austria late on DATE.
""The ORDINAL (reason for the crown's rise) is ORG's comments in GPE,"" ORG, trader at ORG, said. ""Another reason of course is the following of the market by the central bank at the fixing.""
At an economic conference, ORG backed central bank Governor PERSON's view that a stronger crown would be better for the economy in the long term.
""We think that a devaluation is not necessary and that it wouldn't be useful,"" ORG told ORG in GPE, GPE.
While some economists have recommended devaluing the crown to help the trade position, many said it was not fundamentally necessary as capital inflows remain strong and the balance of services, especially tourism, narrows the current account gap.
The NORP currency last dipped below the parity rate against the basket in DATE, soon after elections stripped ORG's conservative coalition of its majority in parliament and strengthened the hand of the opposition NORP.
Klaus was finally able to form a minority government of his centre-right coalition while the centre-left NORP have been conciliatory on economic issues, including a QUANTITY cut in spending to balance this DATE's budget.
The crown has since been on a steady upward path, ORDINAL hovering PERCENT against the basket in DATE, then surging after comments by PERSON's on DATE.
Since DATE, the central bank has had the option of fixing the crown in a band of plus/PERCENT from parity with the basket instead of its previous tightly controlled plus/PERCENT band,
The move brought the crown more in line with supply and demand on the open market.
-- Prague PRODUCT, CARDINAL-2-2423-0003","GPE's main oil workers' union, ORG, known for its fierce nationalism and opposition to multinationals, has merged with a smaller labor organization in a bid to create an industry-wide front, CARDINAL of its leaders said DATE.
The new grouping will target workers not currently represented by any union, primarily those employed by foreign companies operating in the country, ORG social security secretary PERSON said.
The merger vote took place DATE in the oil production center of PERSON and has set alarm bells ringing in some sectors of the industry, which fear the ORG's spreading influence could sour labor relations with the non-unionized workforce.
""The merger was unanimously agreed and this opens a new phase of union organization in the oil industry. We will try to enter into those sectors where there is little or no union presence,"" ORG said. ""The multinationals have already spoken out against this grouping and we think they will show a great deal of resistance and look for ways to keep it out of their fields.""
The ORG has CARDINAL workers and has until now only been able to recruit within the state oil company Ecopetrol. But the merger with the small ORG, which already has a foothold in the multinationals, will pave the way to what ORG chief ORG believes could be a CARDINAL-strong ""super-union"".
ORG said the new union would not only cover production and refinery workers but could also extend to contractors and those involved in transport and distribution operations related to the oil industry.
SINTRAOXY, which represents multinational ORG workers, is expected to join ORG and ORG, ORG said.
ORG, formed in DATE, has accused foreign multinationals of undermining national sovereignty through its production and exploration contracts with Ecopetrol. It has also attacked them for exploiting NORP workers.
For their part, some of the multinationals believe ORG has ties with GPE's leftist guerrilla movements -- a charge its leaders deny.
A foreign oil spokesman said DATE: ""The prospect of having to deal with a belligerent union with close ties to the guerrilla movements is far from stimulating.""
Another contacted DATE said his company was analyzing the merger decision, saying: ""It may be something we can live with. It's surprising what people who want to earn a dollar will put up with.""
DATE, the ORG staged a TIME strike which paralyzed pumping operations along GPE's CARDINAL main oil pipelines.",0
"Shareholders of ORG blasted the company's revised merger pact with ORG, charging that the new terms fall short of a rival bid launched by ORG
In a conference call with ORG, several investors also threatened to tender their shares for $MONEY and then vote against the proposed merger, according to market sources who participated in the call.
""Some of the shareholders were really angry and said this was being crammed down their throats,"" said an arbitrager.  
ORG earlier announced that it was amending the proposed merger agreement with ORG to reflect a premium in the cash portion of the transaction. Under the new terms, ORG will pay $MONEY cash per share for PERCENT of ORG shares instead of the previous amount of $MONEY.
PERCENT will be exchanged at the original ratio of CARDINAL ORG shares for each ORG share.
Based on ORG's current stock price, the deal values ORG shares at MONEY, market sources said.
ORG has offered to pay $MONEY cash per share for all of ORG's outstanding shares.  
Investors also were unhappy with a DATE extension of the time in which ORG is locked into the deal. The revised pact says the ORG board cannot withdraw from the pact or agree to a competing transaction before DATE.
""It's an outrage. This thing is now locked up tighter than ever,"" said another arbitrager.
Conrail defended the revised transaction by saying it provides more strategic benefits than the offer proposed by ORG, said people who listened to the call.
In a move that had been widely expected, ORG also earlier formally rejected the ORG offer.  
A source familiar with the companies involved said the ORG board met until TIME and then hammered out the revised pact with ORG in TIME of DATE.
Shares of ORG fell CARDINAL amid broad market gains. Conrail stock rose CARDINAL to CARDINAL and ORG shares fell CARDINAL to CARDINAL.
Meanwhile, ORG described the new ORG offer as ""significantly inferior"" to its proposal and reaffirmed its bid of $MONEY per share.","The proposed union of ORG and ORG dramatically raises the stakes for survival in the defense industry, which already has experienced intense consolidation.
Global players, including ORG, PERSON and ORG, are expected to seek partners in a new cycle of mergers.
""This has broken an uneasy truce in the defense industry,"" said PERSON, president of ORG, which specializes in aerospace and defense.  
Although the pace of defense mergers recently has slowed from the booming levels of DATE, the ORG-ORG combination is expected to trigger a resurgence of activity, industry experts said.
""This transaction establishes a level of scale that is going to urge additional consolidation. It's clearly going to drive us toward, instead of CARDINAL or CARDINAL large firms, CARDINAL or CARDINAL mega-corporations,"" said PERSON, director of ORGamp; ORG's aerospace and defense practice.  
PERSON is viewed as a leading buyer of defense electronics properties. Shares of the company jumped CARDINAL to CARDINAL on views that the ORG-ORG transaction may speed up its acquisition plans.
""All of a sudden, the scale of ORG has been diminished by this merger,"" said CARDINAL defense industry source who did not want to be identified.
Formed in DATE from a union between ORG and ORG, the company DATE bought ORG defense business for MONEY in CARDINAL of the biggest defense deals of DATE.  
A spokesman for ORG declined to comment on merger activites, but noted that electronics is a growing part of the company's business.
""We have clearly embarked on a strategy of transforming the company from primarily an airplane builder to electronics,"" said PERSON.
Meanwhile, current defense industry leader PERSON, which DATE bought ORG for MONEY, is viewed as well-positioned to compete against the new and larger ORG. PERSON said in a statement on DATE that ongoing industry consolidation is vital.  
""They've gone from being king of the hill to having to share it. They're in an extremely strong position,"" PERSON said of ORG.
The defense sector already has seen several consolidation cycles due to declines in federal spending. But those deals were dwarfed by the latest MONEY merger announced on DATE.
Industry experts said prices and bidding is expected to intensify for attractive properties, noting that reported seller ORG is likely to benefit. Industry sources previously targeted ORG as a potential buyer of ORG.  
A spokesman for ORG could not be reached for comment, but the company previously has said in an ORG filing that it would consider acquisitions and consolidation.
ORG is a unit of ORG
The ORG-ORG combination also is expected to trigger consolidation around the globe.
""This may set the stage for a whole new set of (buyers) from LOC,"" said PERSON, head of the aerospace division at ORG, who expects cross-border consolidation in LOC to intensify.  
""The key dimension of defense DATE is scale. This business takes a huge amount of investment,"" PERSON said.",1
"NORP state-owned airline ORG said on DATE it was ready to take on the toughening competition in its domestic market posed by ORG (BA).
ORG's ORG NORP unit on DATE announced a joint MONEY bid (MONEY) with bank PERSON for domestic carrier ORG that will double its share of takeoff and landing slots at GPE' busy ORDINAL airport PERCENT.
An ORG spokeswoman acknowledged ORG's increased presence in GPE aviation would have an impact.
""It certainly has consequences for us. But we will continue with improving our product and service while cutting our costs and prices,"" she said.
After approval by the Creteil commercial court, scheduled to meet on DATE, and an ORG creditors meeting due within DATE, ORG would take a PERCENT stake in loss-making ORG.
A spokesman for ORG, the domestic wing of the ORG operation, said the company had an PERCENT market stake on the routes it operates and PERCENT on the total NORP market.
But from DATE, NORP liberalisation of the airline industry will fully throw open NORP airspace to competition.
The NORP government moved the door ajar at DATE by allowing competition on the busy ORG and ORG routes which were controlled by state-owned ORG, part of the ORG group.
Other NORP airlines had been allowed to fly less busy domestic routes as well as NORP and international routes.
ORG bought its first PERCENT stake in ORG in DATE and obtained the remainder DATE.
ORG, ORG and ORG have all tried to carve out market share ahead of liberalisation with a price war against ORG, the renamed ORG. As a result they have suffered financially.
ORG, headed by PERSON, had been in talks with ORG with an eye to a merger but the worsening financial situation at ORG, which sought creditor protection on DATE, made a deal impossible.
ORG, PERCENT owned by ORG (CDR) which was set up to sell assets of bank ORG, is now going it alone with PERCENT of the slot at Orly.
But industry sources said ORG could strike back in DATE and make a bid for ORG to prevent another foreign airline from setting foot in GPE alongside ORG.
ORG plans to launch its ""Shuttle"" service between GPE and Toulouse DATE, offering more departure times and a ""turn up and go"" service without reservations, as a major plank in its new commercial approach.
Other airlines in GPE are ORG, owned by the PERSON family, the PERSON family's PRODUCT airlines, ORG ORG as well as ORG.
For ORG, these domestic lines are important potential feeder operations for its international operations.
DATE the company signed cooperation pacts with ORG and ORG of the GPE and ORG aims to sign a similar deal with an NORP ailrine in DATE.
These pacts are based on the ""hub and spoke"" theory in which airlines boost traffic by taking passengers from a smaller airport to a big ""hub"" for long distance flights to another hub. From the ORDINAL hub another smaller plane can be used to take the passenger to the final destination. ($MONEY NORP Franc)","NORP governments and industry on DATE launched a high-technology programme aimed at staying among the leaders of the world technology race.
Microelectronic Developments for European Applications (ORG), a CARDINAL ecu programme for the DATE period, takes over from the NORP sub-micron semiconductor initiative (JESSI).
PERSON, NORP chairman of ORG and now ORG, said that while LOC had closed the technology gap in DATE, the new programme was aimed at forging ahead.
""In terms of concrete results, the technology gap that had been growing at DATE at an alarming rate between LOC and the rest of the world has been substantially closed,"" ORG said.
""The most important thing is that we can't be complacent. The race is getting faster and fiercer, new countries like GPE and GPE have joined and sitting still means falling behind,"" he told ORG at the launch of ORG.
ORG, which will be based in GPE, will coordinate industry research programmes in CARDINAL main areas. CARDINAL of them, getting CARDINAL of the funds, are applications in the areas of multimedia, communications, and automobile and traffic systems.
The other CARDINAL are more basic technologies, as covered by JESSI, in semiconductor design and manufacturing techniques. At stake is a frontline industry on which CARDINAL milllion jobs in LOC depend and in which the technology changes with a new generation of chips every DATE and a doubling in processing power DATE.
""When we started in DATE, LOC was running CARDINAL generations behind,"" said PERSON of the ORG semicondiuctor group. ""We are now among the leaders.""
PERSON der PERSON, chairman of ORG which is part of ORG, said that the CARDINAL large NORP chip groups -- Seimens, Philips and ORG -- were among the most financially healthy in the world.
Asked whether LOC needed to continue to put money into an industry that has become strong, PERSON pointed out that GPE, GPE and other regional blocs spend ""at least the same, and probably more"" on the strategic semiconductor industry, be it through defence programmes or tax breaks.
With GPE, LOC managed to become independent as far as its chip requirements was concerned. With ORG, LOC wants to go further, making even finer chips and bigger silicon wafers to cut costs per chip.
""There is one area where we lag, that is microprocessors. But that situaiton is the same for everybody whose name is not ORG,"" ORG said.",1
"GPE's ORG on DATE concluded a long-awaited global alliance with ORG (NORP) of the GPE, reuniting the GPE brand worldwide for the ORDINAL time in DATE.
Despite the tie-up, which covers CARDINAL hotels in CARDINAL countries, the CARDINAL companies denied there was a hidden agenda to progress to a full merger of the CARDINAL groups.
""We're taking a ORDINAL step in bringing the hotels business much closer. We're putting the relationship back together and who knows what may come of it,"" said ORG chief executive PERSON.
Shares in ORG initially firmed on the earlier-than-expected conclusion of the agreement, adding MONEY to MONEY in TIME trading.
The companies said that the deal covering sales and marketing, loyalty programmes and development would fuel top-line growth and dispel the confusion that has surrounded the CARDINAL groups in DATE.
GPE has operated separately within and outside the GPE since DATE when ORG was spun off from NORP.
""From our customers' point of view this will look as if it's CARDINAL company for the ORDINAL time in DATE. For DATE we've confused our guests...They'll now no longer see a difference between a GPE GPE and a GPE in GPE,"" said PERSON, chief executive of ORG.
""These CARDINAL companies will have such a close alliance and so many points of contact with each other that I believe you will get all the benefits of CARDINAL legal entity whether or not you become one legal entity.""
The reunification would also help both groups capitalise on industry growth and make them more resilient in cyclical downturns, said PERSON.
Announcing the signing of the agreements for the hotel deal, which was ORDINAL unveiled last summmer, the companies also said a worldwide loyalty programme -- ORG -- would start on DATE.
That would be the single most important marketing link up between the CARDINAL, PERSON said, but there was scope for further cooperation in other areas such as gaming.
""There is a gaming provision as well whereby we're looking at doing some gaming projects together,"" said PERSON.
""It's not a deal that involves a great deal of cost savings but the primary benefit is the top line -- it'll be driving revenues. It can be valued in the MONEY to each company.""
As expected the agreements provide for taking cross shareholdings of PERCENT. GPE said it intended to acquire a PERCENT stake in ORG in due course.
Mutual participation in future hotel development will focus primarily on management contracts and franchises, but the companies said it was no longer proposed that each make minority investments in the other's hotel real estate.
The deal is to be ORG's number CARDINAL priority in the near term but, said PERSON, the company was still looking to develop the business by increasing the number of hotels around the world, and was always on the look out for additions to the existing business.","Expertise ranging from snack packaging design to nuclear waste disposal and the destruction of chemical weapons was put up for sale DATE as the GPE government embarked on what may be its last privatisation venture, the sale of ORG.
Trade and industry secretary PERSON will be hoping to swell ORG coffers by MONEY (MONEY) through the disposal of MONEY of the GPE-based group, which is a spin-off from ORG, at DATE.
With a general election looming the sale immediately ran into a political row over the government's decision to keep its ""golden share"" in ORG, allowing it to veto an unwelcome takeover attempt, for DATE.
The opposition ORG cited ""security implications"" over ORG role in monitoring GPE nuclear submarine safety, and sources told ORG that ORG will consider extending the veto if it wins power.
At a distinctly low-tech launch for the pathfinder prospectus, ORG chief executive PERSON shrugged off the embarrassment of a malfunctioning slide projector to explain that the group ""is all about taking technology to market and converting science to profit.""
PERSON could easily have a sign on his desk reading ""no job is too big or too small"" for ORG, whose interests have spread far beyond the state-owned nuclear industry which spawned it in DATE.
Work such as decommissioning nuclear plants and offering safety expertise worldwide, including at the site of the DATE GPE disaster in the GPE, accounted for CARDINAL its CARDINAL stg of sales in DATE.
But PERSON is keen to stress success in using the group's CARDINAL employees to solve a plethora of scientific conundrums, including doubling the life of batteries for ORG mobile phones, helping ORG win the World Rally Championship  and assisting the GPE with the destruction of chemical weapons.
""And we are helping a client to research an improved crisp (potato chip) packet,"" PERSON added.
ORG hopes to persuade would-be investors, expected to be institutions rather than the army of small investors which bought into the likes of ORG and ORG, that sales growth is about to take off after DATE, which it attributes to a drop in reliance on government contracts.
With most cost-cutting behind it, PERSON told ORG he wants to lift foreign sales to CARDINAL of the total from CARDINAL and take advantage of a growing trend for major companies like ORG to outsource research to help drive pretax profit up from MONEY seen in DATE. ($MONEY Pound)",0
"ORG and ORG union reached a tentative deal for a job-preserving labour contract DATE, but the accord failed to halt costly local strikes in GPE and GPE.
The DATE national agreement, which covers wages, benefits and job security for ORG's CARDINAL hourly ORG workers, did little to resolve contentious plant-specific issues that remain unresolved at most of the carmaker's CARDINAL locals.
ORG President PERSON, announcing the pact at a TIME (CARDINAL ORG) news conference, held out the threat of ""We can't tell you what's going to happen in the other locals,"" ORG said. ""I would suggest that the company work very hard and get their locals cleaned up.""
President PERSON applauded the agreement. ""I am very hopeful that the tentative agreement will be ratified, and that the outstanding local issues will quickly be resolved so that everyone can get back to work,"" he said.
On TIME, CARDINAL workers walked off the job at ORG's GPE metal stamping plant and CARDINAL struck the company's GPE, GPE, truck assembly plant over local grievances, including demands for more workers to deal with increasing workloads.
The strike at GPE cut off supplies of fenders, hoods, roofs and other steel body panels to CARDINAL ORG NORP truck plants. It threatened to paralyse much of ORG's highly profitable light truck operations by DATE.
On DATE, CARDINAL workers at CARDINAL ORG assembly and components plants were idled because of the CARDINAL strikes. That comes on top of CARDINAL GPE workers still on layoff status because of lingering parts shortages from a DATE ORG strike that ended DATE.
Analysts estimate the ORG-related shutdowns will cost the carmaker MONEY a day in lost profits, on top of a MONEY loss from the NORP walkout.
But the national ORG accord DATE appeared to push negotiations in GPE and GPE forward. ""I think they've intensified their talks a bit,"" said an official at ORG in GPE.
ORG Local 292 officials also reported progress in local talks at ORG's CARDINAL-employee ORG plant in GPE, GPE. On DATE, the unit sought ORG's permission to join the other locals on strike.
The ORG-GM national agreement will be submitted to rank-and-file members for ratification after CARDINAL ORG leaders meet to consider the pact on DATE in GPE.
The deal was unanimously approved by the union's national ORG bargaining council.
Details of the pact were not released DATE, but PERSON, ORG vice president of personnel, said it fits within the pattern that the ORG set at ORG and ORG
Both of those companies agreed to guarantee jobs for PERCENT of their current TIME workforces and will give workers a $MONEY bonus in DATE of the contract, followed by PERCENT raises in DATE of the contract.
ORG said ORG will depend on its ORG workforce to gain efficiencies over DATE. The company had been seeking the flexibility to shift more work to lower-cost outside suppliers.
""We feel we have the ability to make competitive improvements in the company. We will need to do that with the ORG,"" he said.
In a sign that contentious issues remain, company and union officials did not announce the pact in a joint news conference with the traditional handshakes and smiles. Instead, they held made grim-faced separate statements to reporters gathered at ORG's GPE headquarters building.
""I think we said back in DATE that it would be a difficult negotiation, and I think we fulfilled that expectation,"" said a visibly tired ORG Chairman PERSON. ""Like any negotiation, you never get everything you want.""
The talks were said to hit several snags during DATE over plants that ORG wanted to exclude from the PERCENT employment guarantees. Among those were a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that the company has put on the sale block.
The proposed exceptions to the pattern were aimed at allowing ORG, the least efficient of GPE's Big Three automakers, to cut costs and boost productivity.
Although all CARDINAL of the companies pay a base wage of MONEY an hour, ORG and ORG buy more of their parts from lower-cost outside suppliers than ORG does.","ORG board of directors will likely delay an increase in the company's DATE common stock dividend if it fails to reach a contract deal with ORG union before DATE, analysts said DATE.
ORG's board is scheduled to meet on DATE and will consider the automaker's DATE dividend, but ORG analyst PERSON said an increase will send the wrong message to the union.  
""Unless a settlement is reached by DATE, the board is not going to throw gasoline onto the fire,"" said ORG auto analyst PERSON.
A dividend hike now could jeopardize the long-running ORG talks because the automaker is trying to win concessions aimed at cutting costs and allowing it sell off unprofitable parts plants. The CARDINAL sides are crafting a complicated agreement that is expected to maintain job guarantees set by ORG and ORG, but may exclude a number of ORG facilities.  
Nevertheless, analysts say ORG is due for an increase because of the company's improving cash position and stronger earnings.
The DATE payout rate on ORG's MONEY par-value stock has been unchanged since DATE, when it was raised to $MONEY a share from $MONEY.
PERSON's anticipation of an increase in the dividend and a possible share buyback program was predicated upon having an agreement in hand.
ORG analyst PERSON agreed but he noted that ORG needs to increase its payout to improve its dividend yield. ORG's yield is now PERCENT, compared with PERCENT for ORG and PERCENT for ORG
""Shareholders might be better served by letting that sleeping dog lie,"" PERSON said of a possible dividend increase.
He added that he expects shareholders to remain patient with ORG, because the automaker has more to gain by negotiating a ORG contract that allows it reduce its cost disadvantage compared with ORG and ORG.
Once a contract is signed, GPE said he is looking for ORG to raise its dividend by PERCENT, or $MONEY a share, in CARDINAL increments.
ORG shares were up CARDINAL at DATE.",1
"GPE's biggest electronics investment, a MONEY integrated circuit (IC) production facility in GPE, is looking for foreign joint venture partners, the firm's president said.
PERSON, director and president of ORG, said the firm was in discussion with a number of major PERSON makers to find a partner to supply IC production technical know-how in return for an equity share.
""We are discussing joint venture possibilities with a number of companies, we want to do some kind of JV,"" PERSON said in an interview on DATE.
""But the PERSON partner's share won't be large. This project is too big for anyone to bear the cost,"" he added. He declined to name the companies involved in discussions.
GPE's IC production lags far behind the world standard in both quantity and quality, and the CARDINAL plants now in operation can meet PERCENT of the country's demand for ICs.
The new GPE IC production plan, known as Project CARDINAL, will put GPE closer to the cutting edge of IC development when production begins in DATE, PERSON said.
""But we will still be behind the highest international levels,"" said PERSON. ""We will produce QUANTITY wafers of CARDINAL microns in thickness, but by the time production begins the world standard will probably be down to CARDINAL microns.""
The production factory at the core of ORG PRODUCT involves MONEY in investment, with MONEY from the central government and CARDINAL from the GPE city government.
The project has the support of the highest levels of the NORP government -- Premier PERSON attended the opening ceremony for the project DATE in GPE to the east of GPE's city centre.
But PERSON said he was treating the project very much as a commercial venture.
""From GPE's point of view, this may be a strategic policy project, but we have to run it as a commercial proposition,"" he said. ""IC production is too expensive, the state is not going to keep giving us money.""
It will have a DATE production capacity of CARDINAL wafers, each one packed with IC chips.
PERSON said output would fall into CARDINAL categories, each with big potential in the GPE market -- IC ""smart"" cards, ICs used in communications equipment, and micro-controllers used to control household electrical appliances.
If things go smoothly it should move into profit in DATE, DATE after production starts.
""But this is a highly competitive business, I know it won't be easy to make money,"" PERSON said.
The factory itself is being designed by a NORP firm, ORG based in ORG, which specialises in GPE plant design.
Discussions are also under way with major producers of IC production equipment around the world. PERSON declined to say which companies, but said most of the equipment would probably come from GPE.
Asked if the equipment could fall within the category of technology restricted for export from GPE to GPE, PERSON said:
""There are some pieces of equipment that would require export approval. But relations between GPE and GPE seem to be getting better DATE.""
($MONEY = MONEY)","An uproar over the sudden departure of GPE chief immigration official DATE is expected to gather momentum DATE, when the territory's top civil servant appears before a ORG enquiry.
PERSON, the territory's popular chief secretary, is expected to resist demands by ORG (Legco) committee members that she release confidential reports on former immigration boss PERSON.
PERSON's appearance before the committee on DATE sets the stage for a showdown between the GPE government, now facing accusations of a political cover-up, and the ORG select committee investigating the PERSON affair.
Committee chairman PERSON DATE threatened to use a powerful ordinance to slap PERSON with contempt if she fails to unveil the reports -- statements which drew a sharp response from the government on DATE.
If the committee uses the Legco (Powers and Privileges) ordinance to open the reports, ""then it will have to be solved in the court"", civil service secretary Lam Woon-kwong told LOC newspaper.
At issue are CARDINAL investigations, CARDINAL an anti-corruption probe and the other a police integrity check, both performed before PERSON left his post where he enjoyed access to highly sensitive information.
NORP press reports have since alleged that PERSON was spying for GPE, which takes back GPE after DATE of colonial rule on DATE.
PERSON, whose daughter was murdered with a cross-bow in GPE DATE, has denied being a spy. But DATE, PERSON contradicted earlier claims that he resigned for personal reasons and announced that he was forced to quit.
The GPE government said on DATE that no decision had yet been made on whether to release the reports but stressed its concern to uphold the privacy rights of civil servants.
It also noted that witnesses before the select committee enjoy all the rights and privileges of a witness in court.
""If that witness claims public interest immunity in relation to any document, he is entitled to put his reasons before the chairman for a ruling,"" the government said in a statement.
Governor PERSON on DATE reiterated his support for PERSON and civil service secretary Lam NORP, but declined to comment on how the government would respond to the committee's demands DATE.
""Everything that's been done by the Secretary for ORG and others has been with my complete support and endorsement,"" PERSON said.
Political commentators said the PERSON case had highlighted ORG's power to hold the GPE government accountable.
In so doing, it has drawn attention to the sensitive issue of the future relationship between the executive and legislative branches of government in GPE, and created something of a dilemma for GPE, which has long argued that PERSON became too powerful under PERSON.
""The irony is that GPE might find it extremely difficult to discredit PERSON for doing the wrong thing now that the Government is being challenged on all fronts,"" political columnist PERSON wrote in LOC.
""But if it gives legislators a pat on the back, it would find itself giving credit to a body which it has decided to scrap on DATE.""",0
"GPE is eyeing its ORDINAL consecutive bad grain harvest and will need imports despite a prediction by Prime Minister PERSON that output will be enough to meet demand, industry sources said DATE.
""The sheer volume GPE will produce is enough to meet demand, but the quality is not,"" said specialist PERSON of the independent consultancy ORG ""So it is fully possible that GPE will be forced to go to Western markets.""
PERSON, in a speech to ORG, the upper parliament house, forecast DATE grain output of QUANTITY, ""significantly higher"" than DATE harvest of QUANTITY.
""This will allow us to provide the population with bread and bread products until DATE) harvest, to prepare enough concentrated feed grains and to increase grain reserves,"" a copy of PERSON's speech read.
But grain sources have said private-sector buying would still take place. ""We have a shortage of ORDINAL-class wheat,"" PERSON, general director of the agricultural trade association ORG, told an industry seminar.
PERSON said piecemeal NORP imports of grain and flour in grain equivalent from all sources would rise to QUANTITY over the DATE crop year, from CARDINAL in DATE.
PERSON, head of agricultural forecasting at ORG, a think-tank set up by the government, said he thought imports could be even higher.
Agriculture Minister PERSON has said GPE may import up to QUANTITY of corn and soymeal, QUANTITY of wheat from GPE, GPE and/or GPE.
ORG said domestic feed corn was in short supply, but corn for human consumption was not.
But industry sources said NORP markets should not expect sudden announcements of big purchases. Rather, GPE would buy piecemeal in small lots, they said.
PERSON said imports of Western grain could be possible because GPE flour supplies would slip due to very poor harvest outlook there.
""GPE has become the world's largest flour importer,"" he said, referring to imports which increased to QUANTITY in the DATE, a rise of CARDINAL times from DATE.
Industry sources said the most likely buyers would be the CARDINAL NORP commercial banks authorised to use GPE government commodities credits.
GPE has used nearly all its reserves from the DATE harvest, the worst in DATE. It survived largely due to carryover stocks from the DATE harvest.","Crude oil output in GPE, the world's ORDINAL-largest oil producer, is finally ending DATE of dramatic decline, but it is still a long way from switching back into top gear.
""We could see DATE output stabilise at DATE's level,"" said PERSON of ORG fuel department. ""But we won't see any real pick-up until DATE.""
NORP oil output slipped PERCENT year-on-year to QUANTITY in DATE, after falling PERCENT in DATE, according to ORG. Most of the decline came from companies producing over QUANTITY a year.
""It is the ministry's opinion that output will fall PERCENT DATE,"" said a Fuel and ORG source who declined to be named, saying that the matter was sensitive.
That would still be one of the lowest declines GPE's beleaguered oil industry has seen in DATE.
It would also be a sign that the era of steep plunges is finally drawing to a close.
GPE's DATE output of QUANTITY, or QUANTITY per day, is stabilising at CARDINAL of DATE's peak of QUANTITY (CARDINAL bpd).
The numbers matter because they indicate the pace at which GPE, once the world's largest oil producer, may regain that place as its economy and domestic oil prices grow.
But it is still early.
""There are a lot of expectations that the barrier will be broken DATE, but it won't -- output will be flat,"" said Tamara GPE, energy analyst at ORG, a research institute set up by the government.
GPE is for now committed to subsidising domestic oil prices to help flagging industrial enterprises, and export levels cannot rise significantly until new pipelines are built -- CARDINAL key factors that do not inspire higher production levels.
""Production DATE is going to be pretty flat, and if anything, slightly lower,"" said energy analyst PERSON of ORG in GPE.
He said that if parliament soon approved a list of reserves open to production-sharing, an initial, positive impact on output could be felt by DATE.
GPE's joint ventures, which account for PERCENT of production, are showing the biggest increases in output, with their production up PERCENT in DATE to QUANTITY.
When the big-ticket joint ventures and production-sharing deals begin producing in DATE, total output could soar.
A bull-run in world prices and GPE's scrapped export duties have inspired NORP producers to put even more oil into already over-strapped export pipelines.
But a tax clampdown on high foreign-exchange earners and a lack of commitment by new shareholders in NORP oil companies to reinvest in production are both sucking up cash.
PERSON, GPE analyst at ORG in GPE, said higher export dollars were not necessarily finding their way back into production.
He said domestic commercial banks, some of which are major stockholders in big NORP oil companies, preferred to pump cash into markets with better returns, like equity.
Rehabilitating wells is one of the fastest and cheapest ways to boost output, but most of the easy, less expensive workovers have been completed and average well production rates have not been as high as expected.
GPE has CARDINAL oil wells, of which CARDINAL, or PERCENT, are idle. PERSON said average workover rates -- the cost of bringing these back on stream -- could rise to $MONEY per well from $MONEY.",1
"GPE laws governing the MONEY futures markets could be rocked by ORG interpretation of the word ""in"" in a case to be argued DATE. But a legislative solution is in the offing.
At issue is a DATE amendment to ORG, the primary law regulating trading of futures contracts on everything from wheat and corn to interest rates and electricity.  
Futures exchanges say a broad reading of the amendment would put them out of business, while major banks argue a narrow reading would force them to move vast operations out of GPE.
Whatever the outcome, ORG action is expected DATE. ""It's certainly significant, but I suspect that at DATE, legislation will overtake this,"" said PERSON, former ORG general counsel.  
When ORG expanded the commodity act in DATE to cover futures on non-agricultural commodities and created ORG to police the markets, some big banks objected.
They argued the law should not apply to trading of foreign currency, government securities and similiar items already flourishing among banks and securities firms.
ORG agreed and in a letter to ORG suggested an amendment to the law that became known as LAW.  
The amendment says ""transactions in"" foreign currency, security warrants, repurchase options, government securities and a few other items are exempt from ORG unless they involve sale for future delivery conducted ""on a board of trade.""
The banks continued to trade foreign currencies unimpeded but the ORG began to encounter a new problem. Unscrupulous ""bucket shops"" that peddled off-exchange commodity contracts to rip off unsuspecting investors were expanding into foreign currency schemes.  
The ORG shut down the forex shops but lawyers for the shops argued forex investment contracts should be considered transactions ""in"" foreign currency and exempt from ORG rules.
Lower federal courts took up the issue but reached conflicting conclusions. Some said ""transactions in foreign currency"" exempted dealings only with actual currencies, not derivatives on the currencies like futures and options. Others decided that ""in"" exempted all trading involving currencies.
ORG will likely resolve that conflict in DATE's case concerning PERSON, the manager of a MONEY hedge fund investing in foreign currencies.  
In DATE, PERSON told his investors he had lost MONEY. The ORG soon charged PERSON with fraud under ORG. A lower court agreed.
Asking ORG to uphold that decision, ORG lawyers argue that ORG would have used the word ""involving"" rather than ""in"" if it had wanted to exempt forex derivatives.
But ORG's lawyers and CARDINAL banks that dealt with his fund maintain that the ORG has no jurisdiction to prosecute under the commodity act.  
Affirming the earlier decision would undermine the MONEY a day global currency market by subjecting it to unworkable regulation, the banks said. And PERSON, if guilty of any misconduct, could be prosecuted under wire fraud or securities laws, the banks said.
At the other extreme, the GPE futures exchanges appear terrified the court will strike down the lower court ruling.  
ORG, in an amicus brief written in part by PERSON, the independent counsel in the PERSON investigation, warned that a broad reading of the exemption would create havoc, allowing unregulated dealings in all kinds of futures contracts now traded on exchanges.
""The idea that someone could clone ORG principal products, trade them off-exchange and not be subject to any regulation is pretty darn troublesome,"" PERSON, another exchange attorney, said.
A ruling is not expected for DATE, but the banks and exchanges will have to continue their struggle in the legislative venue almost immediately.
ORG could resolve the dispute through legislation, which would render the decision moot. CARDINAL bill was introduced in the last ORG to amend LAW and Senator PERSON (R-IN) has said he will likely offer a new bill DATE.
-- CARDINAL-898-8312","Many personal computer makers DATE will roll out flashy multimedia PCs designed around a new chip by ORG -- a development that is expected to give the consumer sector of the industry a much-needed boost.
ORG will officially launch its much-anticipated P55C microprocessor using its so-called MMX (multimedia extension) technology DATE and a slew of companies will unveil new consumer PCs, notebooks and desktops using the new chip, which will offer much faster performance.
The company said the new chip will offer more than just faster speeds on the new PCs, but a spokesman declined to give any further details.
""Instead of just raw performance ... you get a richer experience,"" said an ORG spokesman in GPE, ORGORG, ORG, ORG, ORG, ORG, ORG and many other firms are expected to unveil new high-end PCs simultaneously with ORG's announcment.
Most machines are expected to be priced MONEY.
ORG said that an MMX-based PC would be more like a television, with sharper images, CARDINAL-dimensional graphics, faster audio and television-like video. Other benefits include faster video teleconferencing and Internet access.
""As more and more people use PCs, the expectations are higher and higher, from what they see in movies and television,"" the ORG spokesman said.
""This moves the PC platform a little further along to media-rich applications. Our goal is to surpass the TV in terms of audio and video.""
For example, he said, a user playing a video game on an MMX-based PC will feel as if he or she is in a video arcade.
""It's a tremendous kickoff to DATE,"" said PERSON, a vice president of ORG's PERSON division.
""We are so excited about the new MMX processor that we redesigned the entire line of PERSON from the ground up. Customers are going to get a pretty dazzling experience.""
ORG declined to give any product specifics, but he said that ORG will launch its new GPE consumer PCs with MMX in the same timeframe as ORG's announcement.
""It should provide an added boost to the demand for the new generation of PCs,"" ORG added. ""There was no major industry event in DATE, DATE you have a new processor.""",0
"Former ORG (ORG) star fund manager PERSON continued her battle against her ex-employer on DATE but, after a meeting with her lawyer, said her chances of being reinstated were slim.
""Reinstatement doesn't seem very likely,"" she told ORG.
PERSON is waging a campaign for reinstatement or compensation from the firm from which she resigned in a blaze of publicity DATE after allegations that she planned to defect and poach some of her colleagues.
But so far ORG, and its parent company ORG (DMG), have remained deaf to her pleas.
PERSON met her lawyer PERSON of law firm PERSON again on DATE and although her advisers hinted it was far too early to talk of legal action against DMG, this has not been ruled out by PERSON's camp.
The advisers indicated an early resolution of the dispute was unlikely and could take DATE as ORG and ORG had still to complete an internal inquiry into the affair.
""It will take DATE, if not weeks, I should think,"" one adviser said.
Despite indications that discussions took place on DATE between Farr and DMG's legal representatives, a ORG spokesman denied there had been further contact.
The bank is sticking firmly to its guns in the row with the DATE mother of CARDINAL, one of GPE's most prominent fund managers.
It says PERSON, having been promoted to the rank of managing director, was suspended DATE for ""soliciting staff"" to join a rival firm and then resigned her position.
The plot has thickened amid unconfirmed allegations that this was a prelude to a takeover of ORG's pension fund business by NORP bank ORG.
ORG declined to comment on the latest reports but has already denied having tried to poach PERSON and her team.
On DATE, however, the NORP bank acknowledged it would be interested in buying a large NORP fund manager and its global asset management director PERSON told ORG it would like to make ""big steps"" in GPE funds management.
PERSON continues to deny allegations that she was leading a breakaway group.
DMG's line is that PERSON will not be reinstated and that there will be no compensation because she had resigned. ORG's parent ORG also said DATE that it did not expect to go to court with PERSON.
Deutsche board member PERSON, who is poised to take over the helm of ORG in DATE from PERSON, said: ""The facts are clear. PERSON inflicted damage on the bank with her attempt to poach staff and then resigned.""
Meanwhile, differing versions of what led up to her suspension continued to trickle out.
NORP newspaper reports said ORG was involved with PERSON in planning to fund a management buyout of the MONEY (MONEY) pension fund business which PERSON headed.
They said ORG planned to recruit PERSON and her team and then to offer to buy the residue from ORG for a reported MONEY.
PERSON's colleagues were reported to have been unconvinced by the merits of ORG's alleged plan to poach the team, not least because one of the team's key aims had been to have PERSON promoted to a more influential position within PERSON. Once this happened it removed a key complaint against top management.
PERSON has had a troubled time since the sacking of fund manager PERSON DATE after irregularities came to light in CARDINAL of the group's funds, hitting staff morale and also rattling clients.
Young has denied any criminal activity and is being investigated by GPE's ORG.
So far no clients have withdrawn their business from ORG as a result of the PERSON affair. However, several major clients have expressed their concern and said they would be reviewing their relationship with the firm. ($MONEY Pound)","Lawyers battling cigarette companies on behalf of flight attendants exposed for DATE to ORDINAL-hand smoke began notifying potential claimants DATE of the ORDINAL broad class-action tobacco suit to go to trial.
The mass mailing to CARDINAL former and current flight attendants on GPE airlines was meant to find non-smoking stewards and stewardesses who have ailments such as lung cancer, attorneys for the plaintiffs said.
Print advertisements, notices on an Internet site and additional mailings will follow. The trial is to begin on DATE in GPE's ORG.
The class-action claims the illnesses among non-smoking flight attendants were caused by ORDINAL-hand smoke from cigarettes aboard airliners and seeks unspecificed damages likely to total MONEY.
It accuses ORG Cos. Inc., the world's biggest cigarette company and maker of the ORG brand, and other leading GPE tobacco companies of hiding the dangers of ORDINAL-hand, or environmental, smoke from NORP.
""This is clearly a milestone,"" said PERSON, chairman of ORG in GPE.
""This is the ORDINAL time a class-action case (against tobacco companies) has gotten to notificiation,"" PERSON said.
Another suit in GPE seeking to represent CARDINAL ill smokers was thrown out DATE. PERSON said CARDINAL other class-action suits, another in GPE and the ORDINAL in GPE, are also scheduled to go to trial DATE.
""This is a signicant stage,"" said ORG professor PERSON.
Flight attendants' lawyer PERSON of GPE said CARDINAL to CARDINAL sick people would likely be included in the suit out of CARDINAL or more flight attendants who worked for GPE airlines before in-flight smoking was banned.
The suit alleges that ORDINAL-hand smoke causes cardiac ailments, cancer and CARDINAL other ailments. PERSON and PERSON said scientific findings do establish links strong enough to stand up in a jury trial.
""That's a very big 'if',"" said PERSON, an attorney for the tobacco industry. ""If he were successful in that, he has to come back and prove that ORDINAL-hand smoke caused individual injuries.""
Rosenblatt said damages, if any, would be set in follow-up trials after the finish of the DATE trial, which he estimated would run DATE. Categories of claims, such as those of people suffering with emphysema, would likely be determined separately, he said.
Tobacco attorneys had in DATE pressed PERSON to spend heavily on a national media campaign, using television and popular magazines, but ORG Judge PERSON ruled that mail notification was sufficient.
The mass mailing costs MONEY a letter, PERSON said.
Daynard and ORG said the tobacco industry, in expectations it would beat PERSON, wanted as many potential claimaints involved in the class-action suit since those people then would not be able to sue independently.
""We think the entire case is meritless,"" York said.
Rosenblatt said any claimants who did not write and ask to be excluded from the class-action lawsuit would be included. Typically, CARDINAL to 10 percent of class-action claimants drop out, legal experts said.",0
"LOC largest gold producer, GPE-based ORG, reported lower DATE earnings on DATE due to an after-tax charge and higher operating costs.
PERSON's net income for DATE fell to MONEY, or MONEY a share, from MONEY, or MONEY a share, in DATE.
Earnings were slightly below analysts' expectations.
""I think their DATE clearly underscores that ORG has made the transition from a growth company to one that's trying to maintain its existing base,"" said mining analyst PERSON of ORG.
PERSON pointed to higher cash costs, which rose to $MONEY an ounce from $MONEY an ounce DATE.
The company also took a MONEY hit to bail out of its ORG exploration project in GPE.
PERSON hiked its exploration budget PERCENT, to MONEY for DATE, compared with MONEY previously.
Investors seemed to shrug that off. PERSON's shares rose MONEY to C$MONEY in heavy trading on ORG. In GPE, the stock rose MONEY to $MONEY.
The market seemed positive to PERSON's plans to develop its ORG mine in GPE and its new GPE property in GPE, analysts said.
PERSON bought the GPE deposit DATE through its MONEY takeover of ORG, based on a minimum of QUANTITY of gold. According to the company, recent drilling on the property suggests the number was conservative.
ORG said production at GPE should begin in DATE at a rate of QUANTITY of gold a year. Costs should be below $MONEY an ounce thanks to a substantial silver credit and high grade gold.
Capital costs should be MONEY, the company said. It has CARDINAL drills on the property working to define the deposit.
""They are proceeding very aggressively on GPE,"" PERSON said. However, he cautioned that it was risky to make such claims while drilling was still underway and a feasibility study is still a long way off.
At ORG in GPE, recent exploration suggests the deposit may extend across the nearby border into GPE, ORG said. Production is expected to begin in DATE, totalling QUANTITY a year at an operating cost of $MONEY per ounce. Capital costs are expected of MONEY.","NORP nickel giant ORG has a growing appetite for expansion and is poised for growth through acquisition and exploration, the company's new chief executive officer said in an interview.
""The appetite of this company is much higher than what it used to be,"" PERSON told ORG on DATE. ""ORG is in very good shape financially DATE, which means that we have the ability to grow.""
Hushovd, DATE, replaced PERSON as chief executive DATE after ORG died suddenly at DATE during a business trip in GPE DATE.
Hushovd, originally from GPE, has worked for ORG for DATE.
He spent DATE working closely with ORG in the position of executive vice-president and was chairman of the steering committee that put together a strategic plan to carry ORG into DATE.
""I don't see a need to revolutionize ORG,"" he said. ""The backbone of ORG is nickel, and copper is another leg of ORG. It will probably be like that in the future.""
However, GPE is not content simply to sit back and let the long-term strategic plan unfold.
The plan calls for ORG to double its DATE nickel production to QUANTITY and triple its copper production to QUANTITY a year, within DATE.
To do that, ORG needs to find growth opportunities, especially since the company lost a bid to take over the huge GPE's Bay nickel, copper and cobalt deposit in remote GPE, said PERSON.
Ongoing work in GPE, GPE and GPE should complement plans to start producing nickel by DATE at the PERSON project in GPE and plans to produce copper by DATE at the ORG joint venture project in GPE, ORG said.
In GPE, ORG joined a consortium in DATE to develop the FAC copper mine, in which ORG is partners with GPE ORG and ORG
In GPE in LOC, ORG is poised to gain access to nickel reserves to supply a nickel plant planned in the north of the country. The board of GPE's Eramet on DATE said it had agreed to reallocate its mining reserves in GPE, which would give ORG access to ORG's PERSON field.
Hushovd does not intend not stop there.
""ORG has always been very strong in exploration,"" he said. ""We felt we lacked the business development infrastructure.""
So DATE, the company set up a business development group, to search out growth opportunities either through exploration or acquisition.
While ORG would not hint at specific acquisition targets, he stressed, ""I want properties that are not only profitable DATE but are also profitable in the future.""
In any future acquisitions, ORG can probably count on support from its powerful majority shareholder, ORG, which owns PERCENT.
""We have a big owner, which means that hopefully we can pursue things that might be tough to pursue on our own,"" PERSON said. ""We can have a bigger appetite than the company on its own would have.""
Hushovd said he had no immediate plans to boost the company's share price, which peaked at C$MONEY in DATE but is currently trading MONEY.
He noted that the stock normally reflects the nickel price, which has failed to meet expectations in DATE.
""I think we all had very high hopes for nickel DATE, and the market did not turn out the way that we had forecasted,"" he said.
As for DATE, ""I feel it's difficult to give a prediction at the present time. Fundamentally I do believe we're going to see better prices in CARDINAL than we did in CARDINAL,"" PERSON said. ((ORG CARDINAL 941-8100))",1
"GPE on DATE handed over to GPE military officers the remains of GPE airmen who died DATE when their bomber crashed into a remote southwestern NORP mountain during EVENT.
""No matter where we must go or how much time it takes, GPE does not forget its warriors and we will endeavour to bring each and every one home,"" said PERSON, deputy director of the ORG (Missing In Action/Prisoner of War) office under ORG.
A senior NORP military officer handed over CARDINAL wooden chests containing remains and a ORDINAL filled with personal effects to uniformed GPE officers in a brief ceremony in the southwestern GPE region.
CARDINAL GPE soldiers in full military uniform took the boxes, exchanged salutes with the NORP officer and placed a folded GPE flag on each of the CARDINAL boxes. A formal ceremony is to be held in GPE on DATE.
""DATE these brave young men scattered their blood over this beautiful region,"" said PERSON, director of foreign affairs in the town of GPE.
A CARDINAL-man forensic team from ORG clawed its way up the steep, slippery face of GPE mountain on DATE to inspect the crash site and found human remains and parts of an NORP bomber.
The officials said findings confirmed information about the fatal crash that occurred on DATE. The human remains would be taken back to GPE for identification.
Local residents searching for wild herbs discovered the crash site DATE. The PRODUCT bomber with its CARDINAL-man crew never returned from a raid on NORP ships around GPE.
""I like the idea... that even if it is DATE that we discovered the remains that we make the effort to bring them back and show the honour and respect they deserve,"" GPE Lieutenant Colonel PERSON said after the ceremony.
ORG Colonel PERSON voiced GPE's gratitude for GPE help in fighting GPE in EVENT.
""As a military man, I have a great respect for their spirit, especially the airmen who met with disaster here,"" he told ORG.
GPE officials ORDINAL learned of the find when NORP President PERSON handed over a video and photographs of the crash site to President PERSON when the CARDINAL met in GPE DATE at FAC forum.
PERSON revealed the find at a time when NORP ties, which plunged DATE, were recovering significantly.
""This demonstrates a spirit of cooperation and a longing for future peace and renewed relationships,"" GPE Major PERSON said after the ceremony.
NORP Defence Minister PERSON gave GPE Secretary of ORG PERSON two dogtags recovered from the site during a meeting in GPE DATE.
Journalists who made the trek to the site saw a pile of charred and twisted metal wedged into a narrow crevasse on the mountain side. Higher up the slope was a chunk of the plane's fuselage along with part of an engine, also wedged into rock.
GPE officials said they had made contact with all CARDINAL families of the crewmen aboard the plane. They said the site appeared to have been untouched for CARDINAL a century.","PERSON, the transport to business services group which rejected a QUANTITY hostile takeover from Hays, said on DATE its special dividend and power unit demerger gave ""much better"" shareholder value.
PERSON, PERSON chief executive, told ORG in an interview ""I think this (plan) is much better"" and ""more in the interests of our shareholders."" He said he thought the 150 million pounds special dividend and demerger plan for the ORG hire business compared favorably with the rejected MONEY per share bid from GPE, ditched in DATE.  
Masters said the plan to spin off the fast-growing hire group ORG was the culmination of a DATE restructuring strategy.
He added that a review to deliver shareholder value had already been underway before the hostile PERSON bid was made in DATE.
The path chosen by the board made the best financial sense in tax terms as well, he added.
He said the ORG business was now ready to go it alone and had strong growth prospects. ""It now operates in CARDINAL countries and is a global market leader,"" he said.  
The logistics business, which will remain within the PERSON group, also offered strong growth potential, said ORG.
""In LOC, logistics got CARDINAL of its profits from food DATE. Now that figure is PERCENT. Industrial logistics is growing at PERCENT per annum and the consumer business is growing at PERCENT, with food manufacturing business also offering strong growth thanks to NORP deregulation.""
PERSON will be making its case to institutional shareholders over DATE, said ORG, in a bid to persuade them that this package offers a better deal than the CARDINAL takeover bid from PERSON.
The board has been under pressure to deliver after suffering share price underperformance DATE against ORG index.
DATE newsroom +44 CARDINAL 5427717",0
"World-wide NORP transport group ORG reported another DATE profit slump on DATE, but promised the sale of its troubled airline and other reforms would produce strong profit growth in DATE.
""We haven't got any numbers, but it should be quite strong relative to the position we're starting from,"" ORG managing director PERSON said of prospective profit growth, in an interview with ORG.  
ORG's net profit for DATE fell to MONEY (MONEY) from MONEY in CARDINAL and MONEY in CARDINAL.
Mortimer said a sharp drop profits from GPE's ORG, PERCENT owned by ORG, and losses from its NORP operations and local general freight business offset good revenue growth in ORG's core operations.
He said profits from these core activities of domestic and international time sensitive freight and logistics had grown PERCENT to MONEY in CARDINAL.  
ORG had moved to excise these loss-making units and focus on profitable core activities, he said.
""We've dealt with the (NORP) ORG (Less Than PERSON) business -- that's been closed, and we've sold GPE,"" he said.
""What's the saying ... when in doubt shoot it or fix it.""
ORG would also look to sell other unprofitable non-core businesses, PERSON said.
""We've got other non-core activities and to the extent that they don't perform then they will be vulnerable to sale,"" he said.  
""The inconsistency in our results has come from these fringe activities ... it's that volatility around the earnings base that says we have to concentrate on core activities and get out of the non-core 'riff-raff' if you like,"" he said.
ORG announced DATE the finalisation of plans to sell its stake in PERSON to ORG for cash receipts of MONEY. PERCENT of PERSON is owned by PERSON ORG  
ORG's remaining non-core activities include an airline leasing company jointly owned with ORG, some shipping operations between GPE and GPE, a mono-rail in GPE and some information technology assets.
Mortimer would not single out any as potential immediate sale prospects, but said they were vulnerable while they were not making profits.
He said the airline leasing firm, PERSON, needed to have its capital base restructured before it could be sold.  
Shareholders however took the profit slump in their stride, having actually forecast a slight loss, rather than a slight profit.
Net profit before abnormals, but after preference dividends, fell to MONEY from MONEY in CARDINAL.
Analysts had expected a pre-abnormal, post preferences loss of MONEY.
ORG's shares closed up MONEY at A$MONEY.
-- ORG CARDINAL-2 373-1800","GPE-based transport equipment hire and logistics firm, ORG, reported a PERCENT profit lift for DATE on DATE, despite flat NORP and NORP economies.
Surging profits from GPE' GPE and NORP CHEP pallet hire joint venture with GPE's ORG compensated for otherwise slow growth from GPE, the company said.
""The continuing improvement in our performance reflects, in part, the successful rationalisation of our wholly owned businesses and strong growth from our CHEP joint ventures,"" Brambles Chief Executive PERSON said.
""ORG, in particular, continues to justify our confidence in its long-term growth prospects in the region,"" he said in GPE' profit statement.
GPE' net profit rose PERCENT to MONEY (MONEY) for DATE from MONEY in DATE. DATE result was undermined by an abnormal loss of MONEY.
Stripping away abnormals, profit for CARDINAL rose PERCENT to MONEY, at the top end of analysts' expectations.
Pre-tax profits rose PERCENT and PERCENT from LOC and GPE respectively, while NORP profits rose PERCENT.
""Overseas profits grew at twice the rate in GPE and the trend is likely to continue,"" Fletcher said.
""In particular we expect further contributions from CHEP in LOC and LOC,"" he said.
DATE told ORG this strong performance from GPE' NORP operations had encouraged it to actively look at further acquisitions outside GPE.
""You should anticipate some acquisition work in LOC, but in businesses we already operate in here,"" he said, referring to areas like transport equipment rentals and records managements.
Looking ahead, he said strong contributions from GPE and LOC should continue to offset soft NORP conditions and help produce profit growth.
""We haven't got an expectation that we will get too much help from this economy...for DATE,"" he said. ""But all in all we've got enough things going to see another (profit) increase for DATE,"" he said.
The result generally pleased analysts, who also pointed to the strong GPE pallet operations as the main bullish note.
""ORG is the outstanding area,"" said ORG analyst PERSON.
""As long as they're saying positive things about CHEP in the GPE then they'll be alright and there's a reasonable amount of momentum there,"" another GPE transport analyst said.
Brambles' shares closed up MONEY at A$MONEY against a soft market overall.
(MONEYUS$MONEY)",1
"Federal officials DATE confirmed CARDINAL cases of bacterial poisoning linked to fresh apple juice as investigators tested for contamination in samples pulled from Western GPE and NORP store shelves.
PERSON of ORG in GPE said the agency had confirmed that CARDINAL children and young adults had been infected with a potentially fatal strain of the E. coli bacterium after drinking ORG fruit juice in GPE, GPE, GPE and the GPE area of GPE.
CARDINAL additional cases are suspected or under investigation, state, county and provincial officials said.
State and federal officials continued to test PERSON juice samples over DATE but said they had not found any evidence of contamination.
""We're going to have to wait DATE to know for sure whether the samples are negative or positive,"" PERSON of ORG said. ""It is quite possible we won't actually find anything, but we have a good selection of samples, including those from the company's library of samples.""
Odwalla, a rapidly growing juice company based in LOC, GPE, was able to provide samples from production runs of DATE, when the ORDINAL cases surfaced in the GPE area.
Whitmore said he did not know of any cases in which illness set in after DATE, although the disease can incubate for DATE.
CARDINAL children remained hospitalized because of complications caused by the E. coli O57:H7 bacterium, including a DATE girl in critical condition in GPE. PERSON was in critical condition ""but improving slightly,"" PERSON of ORG in GPE said.
Young children are most susceptible to the bacterium, which causes stomach cramps followed by bloody diarrhea. In severe cases the illness can lead to kidney failure, which is treated through dialysis but may cause brain damage and death.
The bacterium, which normally lives in the digestive system of cattle, can enter the food chain through fecal contamination, because of either improper slaughtering or contact with manure.
Health officials speculated that PERSON may have used apples that had fallen onto the ground, although company officials say they do not use ""ground apples"" and all produce is thoroughly washed before processing at the company's GPE, GPE, plant.
Odwalla juices are not pasteurized. Heat processing kills bacteria but can also alter flavor.
The outbreak of E. coli O157:H7 is the biggest in GPE since DATE when CARDINAL people fell ill in ORG and CARDINAL children died after eating tainted meat, mostly at ORG hamburger restaurants.
The same strain of E. coli sickened CARDINAL people and killed CARDINAL in GPE DATE. No source was identified in that outbreak, though raw radish shoots were suspected.
The ORG's ORG said the agency recommended that people boil unpasteurized cider or juice.","After DATE of denying that a $MONEY Internet appliance would pose a threat to its industry dominance, ORG plans to announce a new push for inexpensive, easy-to-use personal computers.
ORG is working with ORG and major compouter manufacturers such as ORG and ORG on the intiative and will announce details at a conference DATE, said a spokesman for the software giant, confirming a published report.
The announcement will come DATE before the widely anticipated unveiling of an $MONEY device from ORG rival ORG
The ORG product is among the ORDINAL of an expected flurry of appliance-like devices dubbed network computers being positioned as Internet-friendly alternatives to PCs based on the ""Wintel"" standard of ORG and ORG processors.
While ORG Chairman PERSON and other executives have downplayed the threat from network computers, they have been scrambling to come up with ways to make personal computers easier to use for home consumers and cheaper to maintain for businesses.
""They and ORG have certainly heard the network computer mantra and have discovered a new religion,"" said PERSON, an industry analyst with ORG.
""The threat is very real,"" he said. ""Particularly for the (corporate) community, the concern surrounding the cost of managing multiple ORG systems has been driving them to consider other alternatives.""
At the same time personal computer penetration into the home appears to be hitting a plateau far short of other mass-market electronic devices.
In a report DATE that set off alarm bells throughout the industry, Dataquest forecast sharply slowing growth. The research group predicted PCs would be in PERCENT of GPE homes by DATE, compared with PERCENT DATE.
But since ORG Chairman PERSON and other executives began publicizing the network computer a little over DATE, ORG officials routinely have minimized its importance.
""We dont think it's likely that Internet appliances, network computers or whatever you call them are going to displace the PC anytime soon,"" WORK_OF_ART told a ORG audience in GPE
At the same time ORG has been stepping up efforts to make the PC easier to use, acknowledging the machines are dauntingly complex for many consumers.
In DATE Gates unveiled a set of technologies for what ORG called ORG PC,"" which he said would make the personal computer ""as easy and convenient to use as other home appliances.""
DATE's announcement apparently will go further to bring consumers lower prices, which are being made possible by falling prices of memory and other components.
""They're validating the proposition we've been taking to the market for DATE,"" said PERSON, vice president of software products for ORG's PERSON unit.
PERSON, executive editor of ORG, an industry newsletter, agreed that ORG was late to acknowledge the importance of network computers.
""They're awful late to respond to what has been a very, very strong message from customers,"" he said.
""If they had been doing what they should have been doing, which is really driving down prices aggressively, they wouldn't have been in the position where someone has the opportunity to come and take their franchise away.""",1
"The DATE partnership between ORG. and ORG, already severely damaged by a potential competing alliance, moved closer toward collapse on DATE when ORG said it was cancelling a key marketing agreement between the CARDINAL carriers.
GPE, Va.-based ORG said it will end the carriers' code-sharing agreement and sever the link between their frequent flier programmes as of DATE.
Code-sharing is a marketing agreement in which airlines share passengers and extend their reach to destinations they do not typically serve. Over DATE, CARDINAL of airlines have entered into such pacts.
In announcing the move, ORG cited the NORP carrier's proposed alliance with ORG, a unit of ORG, that would link cargo and passenger services of the CARDINAL powerhouse carriers.
ORG, which is PERCENT owned by ORG, has fiercely opposed ORG partnership and sued both carriers, saying that they would dominate the LOC market. A hearing on the suit is scheduled for DATE in ORG for LOC of GPE.
""Clearly, it's difficult to simultaneously sue a partner and cooperate with a partner,"" said PERSON of ORG.
ORG had no immediate comment on the action taken by ORG.
Although the relationship had certainly turned rocky, most analysts had expected ORG not to sever its relationship with the NORP carrier until the proposed ORG pact was finalised.
The proposed alliance has raised antitrust concerns, awaits regulatory approvals and is tied to other aviation issues between GPE and GPE.
ORG and NORP have argued that the deal would lead to greater competition on the routes because it would only go ahead if GPE and GPE agreed to a so-called ""open skies"" pact.
Although surprised by the move, industry analysts said it will have little impact on ORG, which received far less revenue from the alliance than did ORG.
At the time the partnership began in DATE, ORG was a money-losing airline that desperately needed to reduce costs and expand its global presence.
ORG invested MONEY under the partnership, but refused to pump any more money in the carrier because of its poor financial performance.
Since then, ORG's financial position has improved amid healthier times for the airline industry, but its costs are still higher than other major GPE carriers.
""At the time the alliance was made, ORG received the cash which it needed, but DATE, it doesn't need it,"" said PERSON of ORG.
ORG's future plans are now more uncertain with the decision to sever ties with ORG, especially because chief executive officer PERSON has stressed that he wants to expand ORG's transatlantic presence.
""I'm a little mystified. They don't have anything to replace it with yet,"" said ORGamp; NORP analyst PERSON.","Port arrivals of CARDINAL Ivorian cocoa ranged CARDINAL by DATE compared to QUANTITY in CARDINAL as exporters cut up-country buying for lack of storage space, industry sources and exporters say.
""There's cocoa all over the place,"" said CARDINAL Abidjan exporter. ""I have trucks waiting to unload but no space or pallets until I ship QUANTITY DATE,"" he added.
Crop analysts returning from upcountry reported heavy pod loads in southwestern NORP hybrid plantations. Upcountry store managers told ORG their stocks would rise into DATE.
All eyes are focused on weather data as favourable showers before DATE could swell mid crop cocoa volumes.
""The trees need QUANTITY a week between now and then,"" said CARDINAL plantation owner, giving a rough mid-crop forecast of QUANTITY. ""That of course depends on rain.""
Others put the figure at QUANTITY, with CARDINAL local crop forecaster more bullish at QUANTITY. GPE notched up a record QUANTITY crop in 1995/96 after an unexpectedly strong QUANTITY mid-crop. The government has QUANTITY for CARDINAL.
This DATE's arrivals were expected to be more strung out than last season's.
CARDINAL crop analyst said,""When arrivals figures pick up again and reflect what is out there arrivals could be closer to CARDINAL before the mid crop starts.""
His estimate was higher than most others.
Exporters in GPE CARDINAL main ports are battling to find warehouse space with many cutting purchasing until shipments leave.
A late DATE surge is expected at GPE.
""Everything will be off the trees by DATE so a wave of cocoa will leave GPE against DATE contracts,"" said the GPE exporter. ""PERSON has been very busy.""
Port forwarders and inspectors reported improving bean quality with grain sizes below CARDINAL beans per CARDINAL grammes. Bean humidity levels had dropped to PERCENT from PERCENT in DATE and DATE.
Export standard is CARDINAL beans and under per CARDINAL grammes and PERCENT and under for humidity.
PERSON exporter PERSON (ORG) has reported CARDINAL drying plant fires.
Full warehouses were surrounded by drying beans and lines of palleted cocoa fresh from trucks.
A ORG cocoa and coffee plantation manager said a dryer might be sent down from his PERSON area site to speed up conditioning.
San Pedro processor SACO has full warehouses and more cocoa under awnings at the front of its plant.
""DATE is definitely busier than DATE but I don't have the figures immediately to hand,"" said CARDINAL exporter. Warehouse space at GPE is set to rise from DATE with forwarders SAGA building a QUANTITY capacity shed and an NORP maritime firm, SIVOM, planning another, smaller unit.
PERSON shipments loading improvements are also set to improve evacuation of cocoa from the port with forwarder SAGA planning to raise loading rates from CARDINAL to QUANTITY an hour.
CARDINAL bulk ship, ORG, left GPE DATE with QUANTITY.
Industry sources said upcountry buyers were transporting cocoa to port in QUANTITY loads on trucks designed for QUANTITY.
Tilting and bent trailers, some being repaired along roadsides, were making their way to port through numerous police and army checkpoints.
-- Abidjan newsroom + 225 21 90 90",0
"ORG secured only a partial exit from the bruising copier wars with the MONEY sale on DATE of its copier-marketing and service operations to GPE's ORG.
Prompted by chronic financial weakness, highlighted by the fact ORG's copier sales of MONEY yield MONEY in DATE operating profits, the sale prompted segment leader PERSON to throw down the gauntlet to ORG.
""They're on our turf now and are going to have to chase us to win business,"" said ORG executive PERSON.  
Hatch predicted the ORG-Kodak deal will bring pricing pressures to the copier business. ""Suffice to say that ORG has been aggressive, and will continue to be aggressive,"" Hatch said.
According to ORG chief executive PERSON, the acquisition and a DATE alliance with ORG will give high-flying ORG a full line of copiers to offer low, middle and upmarket customers around the world.
ORG is retaining its manufacturing and development operations in copiers, as well as some key technology.  
The remaining ORG businesses will have MONEY a year in sales, or CARDINAL of its former turnover. Danka will be its main customer as the primary distributor of ORG copiers and printers.
""Danka's growth will be our growth,"" said ORG co-chief operating officer PERSON.
Kohrt predicted ORG's rump copier businesses would be profitable by DATE and that the transaction, netting ORG MONEY in cash, would be immediately accretive to earnings. The deal should close by DATE.  
Analyst PERSON of ORG said he had hoped ORG would have quit copiers entirely and will have to prove to Wall Street it can turn around the financial performance of the remaining copier businesses.
""The question is what kind of normalized earnings can you get out of those,"" he said.
DATE's deal is just the latest bit of corporate trimming at ORG, which has spun off and sold businesses, generating MONEY. The company has in DATE exited pharmaceuticals, household goods and chemicals.  
The company said DATE it wanted to exit or reposition its copier businesses because its financial performance was subpar and promised little hope for a turnaround as it stood.
Kohrt said the deal with ORG will stimulate sales of ORG copiers. ""What we've really needed is pull-through from the market,"" he said.
Danka chief executive PERSON said ORG's strong focus on big customers needing high-volume copiers and services dovetailed with ORG's traditional presence among low and middle-market customers.
News of the deal boosted ORG's ORG, which closed up CARDINAL at CARDINAL. ORG closed down CARDINAL at CARDINAL.
-- New York Newsdesk 212-859-1713.","Cigarette companies, complaining of likely bad publicity, DATE dropped pre-trial opposition to punitive claims by the state of GPE in a multi-billion dollar anti-tobacco lawsuit.
GPE is seeking MONEY or more from GPE cigarette makers for actual costs incurred in its ORG healthcare programme for treating people afflicted with smoking-related ailments. Punitive damages, assuming a victory for the state, raise the potential losses to the industry substantially.
The state DATE won the right to claim even further damages under GPE's anti-racketeering laws, a legal precedent in the spreading courtroom battle against tobacco companies. State lawyers have said the racketeering claims could cost cigarette makers MONEY.
A lawyer for ORG, CARDINAL of the defending tobacco companies, said in a news release that ending pre-trial opposition had no legal effect and that the industry had never paid punitive damages in any lawsuit.
GPE Attorney General PERSON hailed the action as victory and said the industry had made a major legal concession to delay harsh disclosures during a scheduled DATE hearing about industry marketing and medical research practices.
""I liken it to a criminal trial in which the defendant tries to suppress evidence that would prove him guilty,"" PERSON said in an interview. ""They want to delay. It's their best short-term ploy.""
Butterworth said he was forbidden by court order from detailing the damaging information in CARDINAL pages of documents to have been presented on DATE but said PERCENT of the material came from industry internal documents. Much of the material was gathered by other attorneys general, many of whom are cooperating in anti-tobacco lawsuits filed by CARDINAL states.
""It's nearly all their documents, all about their marketing practices, their science ... and they are giving up everything to avoid publicity,"" Butterworth said.
ORG lawyer ORG said a key reason for the industry's decision was a worry that the state lawyers would present evidence against cigarette makers during the hearing open to journalists. Tobacco lawyers would be severly restricted in defending against the evidence during the hearing, he said.
""... The DATE hearing -- which was already window dressed for media consumption with a CARDINAL-page brief and CARDINAL boxes of documents -- would have done nothing other than provide a platform for the plaintiffs lawyers to once again trumpet their case ...,"" Little said.
He accused anti-tobacco lawyers in GPE of leaking documents to reporters and polluting the pool of unbiased potential jurors needed for a fair trial.
The judge in the GPE trial, which is scheduled to begin DATE in LOC, GPE, DATE threw out CARDINAL of the state government's original CARDINAL claims.
Defendants in the case, CARDINAL of several such lawsuits brought by state governments scheduled to go to trial DATE, include ORG and ORGamp; PERSON unit of ORG.
The industry may receive another legal blow if a reported campaign by ORG, parent of cigarette maker ORG, to settle ORG claims in a deal that could involve the exchange of confidential documents.
PERSON was DATE the ORDINAL tobacco company to ever settle cigarette lawsuits in an accord with CARDINAL states which had sued the industry to recoup health-care costs of smokers.",1
"GPE's financial markets gave an approving nod to ORG Minister PERSON's stay-the-course CARDINAL budget on DATE, with some analysts expecting a modest rally on DATE.
In what is expected to be DATE, the Liberal government said it will maintain pressure on the deficit while offering minor tax cuts and new spending.
Economists said ORG's assumptions on interest rates and economic growth were prudent and should enable the government to beat its fiscal targets.
""What you're going to see tomorrow? A flow of funds into the NORP dollar briefly, quite possibly the bond market, quite possibly the stock market,"" said PERSON, director of research for ORG
But analysts predicted the markets would settle down quickly as most of the budget details were widely expected.
""There was no big news in this budget. But he (ORG) didn't relax his fiscal resolve and that will be well received by the markets,"" said PERSON, an economist at ORG, the country's biggest bank.
The budget had little immediate impact on the NORP dollar, but currency traders said they expect the unit to strengthen TIME on ORG's favorable deficit targets.
ORG predicted the deficit for CARDINAL would be no more that MONEY, compared to a projected MONEY. The deficit is seen falling to MONEY in CARDINAL.
In TIME trading, the NORP dollar firmed slightly to C$MONEY (US$MONEY) from closing levels at C$MONEY (US$MONEY).
""We expect the NORP dollar to appreciate overnight as a result of the positive budget,"" said PERSON, managing director of ORG.
NORP bonds strengthened shortly after the budget's release as the market welcomed news of only modest new spending initatives.
Some bond analysts expressed concern that ORG did not set a target for balancing the country's books, but overall they expected a neutral reaction to the budget on DATE.
""He's made some extremely conservative assumptions, we believe, with interest rates and growth that lead us to conclude he will continue to outperform his own targets,"" said PERSON, director of fixed income with ORG.
The budget is expected to be well received on GPE's biggest stock market on DATE, after ORG enjoyed record gains on DATE, analysts said.
Before the budget's release, the ORG's key CARDINAL index posted its ORDINAL record close of DATE, up CARDINAL points to CARDINAL. Trading was heavy with turnover of CARDINAL shares worth MONEY, the ORG's ORDINAL highest value ever.
ORG did not impose new corporate, personal or excise tax increases, but the government did extend a special capital tax on GPE's big banks for DATE.","Negotiators from ORG and ORG union appeared to be grinding toward a national contract deal DATE as a local strike at a metal stamping plant threatened the automaker with As a marathon bargaining session that started at TIME DATE wore on, ORG officials said the CARDINAL sides were closer to an agreement, but disagreements over job guarantees and plants on the selling block remained an obstacle.
ORG President PERSON was meeting in GPE DATE with members of the union's executive board, a body that would have to approve any deal. He was expected to return to the talks at ORG's headquarters DATE.
""The feeling I had around here TIME was that there was some progress made TIME,"" said ORG spokesman PERSON. He declined to characterise the pace of talks DATE TIME.
Meanwhile, plant-level union officials said the number of workers idled by local strikes in GPE and GPE, GPE, could reach CARDINAL by DATE.
ORG truck plants in GPE, GPE, and GPE, GPE, were expected to run out of fenders, hoods, and other sheet-metal parts from ORG's strikebound GPE stamping plant by TIME, officials at the plants said.
Flint employs CARDINAL workers and builds crew-cab and heavy-duty full-size pickup trucks, while Moraine employs CARDINAL and builds ORG PRODUCT and PERSON compact sport/utility vehicles.
""B-crew will come in TIME and that'll be it,"" said PERSON, vice president of ORG in GPE. Although his union is not involved in the ORG talks, he supports the strikers in GPE and GPE, GPE
""A lot of their concerns are our concerns,"" he said.
The remainder of the CARDINAL ORG truck plants fed by GPE are expected to halt operations soon. ORG's GPE, GPE, compact pickup truck plant is scheduled to shut down during DATE, idling CARDINAL workers, and the GPE, GPE plant, which employs CARDINAL and builds both compact pickups and sport/utility vehicles, will shut down DATE TIME.
ORG's GPE plant laid off CARDINAL of its CARDINAL workers as it halted production of ORG's popular full-size ORG and ORG pickup trucks DATE TIME. ORG's other full-size truck plants in GPE, GPE, GPE, GPE, and GPE, GPE, are expected to follow close behind.
The strikes on DATE by CARDINAL workers at GPE and CARDINAL workers in GPE, GPE, have formed a CARDINAL-pronged effort to squeeze ORG's highly profitable light truck operations, increasing pressure for national and local settlements.
The shutdown of the GPE plant alone could cost ORG MONEY a week in pre-tax profits, adding to pressure on the automaker for national and local contract settlements, said PERSON, an auto analyst with ORG.
The southern GPE factory is the sole source for ORG's popular four-door, full-size ORG PRODUCT and ORG and ORG sport utility vehicles. Analysts estimate that ORG makes an average of $MONEY in variable profits on each of the trucks.
Meanwhile, other ORG locals sought to join the GPE and GPE walkouts. ORG's GPE, GPE, electronics plant requested permission to send CARDINAL workers out on strike.
A walkout at that facility would be particularly damaging to ORG because it supplies all of the automaker's NORP assembly plants with engine electronics, audio systems and other parts.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive remained a major sticking point in the negotiations. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs..
ORG's stock gained MONEY to close at $MONEY on ORG.",0
"GPE stocks ended softer on DATE but avoided the massive sell-off on Wall Street as heavyweight bank and transport issues restrained losses in the NORP market, analysts said.
ORG key CARDINAL Composite Index slipped CARDINAL points to end at CARDINAL, while the Dow Jones Industrial Average dropped CARDINAL points to CARDINAL.
Trading was brisk with CARDINAL shares changing hands worth MONEY (MONEY), the ORDINAL highest on record.
""This is mostly a ORG-blue chip sell-off,"" CARDINAL trader said.
Strength in the ORG's financial services and transport sectors restrained GPE's decline.
Computer trading programs drove Wall Street lower after selling was triggered by fears that the ORG was reaching stratospheric levels, traders said.
""They were hysterically euphoric in the morning and hysterically nervous in the afternoon,"" said ORGamp; ORG chief investment strategist PERSON.
Traders attributed some of the bearish sentiment to news that investment strategist PERSON had turned bullish on GPE stocks, reversing her call for a PERCENT correction. Traders said this latest conversion to the bull camp raised concerns among some investors.
Of the ORG's CARDINAL sub-indices, CARDINAL lost ground led by media, golds, base metals and utilities. Gaining sectors included transports, real estate and financial services.
Declining stocks outpaced advances CARDINAL to CARDINAL with CARDINAL issues unchanged.
--- HOT STOCKS ---
* ORG topped the most-active list, rising CARDINAL on CARDINAL shares. Agrium announced plans for a share buyback and MONEY debt issue on DATE.
* In financial services, ORG slipped CARDINAL to CARDINAL on CARDINAL shares. The bank urged shareholders to reject an activist's proposals to limit senior executive pay at its DATE meeting in DATE.
Among other banks, ORG rose CARDINAL to CARDINAL, while ORG improved CARDINAL to CARDINAL.
* Gold miner ORG sank CARDINAL to CARDINAL after announcing a construction delay at its GPE gold mine in GPE.","Even if NORP media and leisure group PRODUCT decides to sell its interest in merchant banking group ORG, the bank would not be under immediate threat from larger rivals, banking sources said on DATE.
PERSON accession DATE as ORG chief executive has prompted widespread talk that ORG would sell its PERCENT in ORG, which owns the CARDINAL ORG houses in GPE, GPE and GPE.
But a pre-emption agreement in cross-shareholdings between PRODUCT and ORG would ensure the partnership has ORDINAL refusal on its own shares if PRODUCT decides to sell its stake, thus preventing the family-run merchant bank from falling into the hands of larger and expanding international rivals.
""This (speculation) is prompted by the fact that PRODUCT has a new chief executive who will obviously want to review things,"" CARDINAL senior corporate financier told ORG, adding that the pre-emption agreement meant Lazards ""either stays with PRODUCT or comes within the ORG empire fully"".
Officials at both PRODUCT and ORG in GPE declined to comment on talk of a possible sale.
PRODUCT has a PERCENT stake in GPE's ORG and smaller PERCENT stakes in ORG in GPE and GPE. Its PERCENT stake in the umbrella group PERSON was negotiated during DATE.
Analysts suggest Lazards does not fit into ORG's main information, education and entertainment divisions and is therefore a target for being spun off. But banking sources point out that PRODUCT has been a profitable venture and not a drain.
""It (Lazards) has not required any capital or management time (from PRODUCT),"" the senior financier added.
PRODUCT, in its DATE DATE report and accounts, points out that its ""close ties to the CARDINAL ORG investment banking houses again proved their worth in DATE"".
It highlighted attributable profits of MONEY from the group for DATE. If PRODUCT, described by PERSON -- senior partner of ORG in GPE -- as a ""great partner"" to Lazards since DATE, decides to sever its ties with the merchant bank, there could also be other complications.
The ORG group, which has successfully specialised in corporate finance advisory work as well as asset mangagment and trading activities, holds CARDINAL ORG shares.
ORG at DATE quoted PERSON as saying PRODUCT might decide to sell QUANTITY (MONEY) stake to finance a buy-back of PRODUCT's holding.
The newspaper said PERSON had said the Lazards holding in PRODUCT was equivalent in value to ORG's ORG stake.
Although Lazards's stake has been seen as obstacle to a takeover attempt against PRODUCT, it might sell its shares on the market but in discussion with the group and ""not to a party which could be hostile"", PERSON told the paper.
While PERSON's role at PRODUCT has been the subject of close scrutiny since her appointment, Lazards have also been in the news, with suggestions of a power-struggle over who will succeed DATE PERSON.
PERSON said DATE there was no succession crisis at the bank, adding he still had time. Under the bank's statutes, he can remain at the helm for DATE. ($MONEY Pound)",0
"NORP fund manager ORGamp; ORG (HC&C) said on DATE it paid a CARDINAL crown ($MONEY) fine for illegal trading practices from DATE, and was making amends.
In a statement PERSON said that PERSON, the young NORP-born entreprenuer who founded PERSON, which is not connected to the GPE college where he once studied, confirmed from his home in the GPE that the fine was paid in DATE.
""The discovered deficiencies from DATE have mostly been removed. We are working on correcting the others,"" HC&C vice-president PERSON said in the statement obtained from ORG's Prague public relations agency.
ORG on DATE said it had levied the maximum fine allowed by NORP law on PERSON, which became CARDINAL of the most visible symbols of renascent NORP capitalism during the country's privatisation wave of DATE.
The firm was cited for several violations of the law on investment companies and funds and forced it to pay additional compensation, the ministry said, but did not elaborate.
PERSON, the head of the ministry's department of fund supervision, told ORG that ORG was cited primarily for the manipulation of assets of its publicly-held closed-end ORGamp; ORG.
She said that the violations included ""dealing with the assets of the fund with unprofessional care"".
ORG said that ORG conducted trades which ""did not indicate that they were done with the aim to increase the value of the assets of the fund"".
Vostry said CARDINAL of the reasons for the fine was the frequent encroachment of the maximum limits for the purchase of shares in individual companies.
At the time, funds were limited to holding a maximum PERCENT stake in any CARDINAL company.
Vostry did not list other infractions.
Jezkova was reacting to repeated inquiries concerning a story published DATE in the GPE magazine ORG.
The magazine quoted a still unpublished ministry decision which it said was handed down in DATE, which required ORG to pay a CARDINAL crown penalty and MONEY in compensation to its funds for various activities.
ORG declined comment on the total amount of compensation ORG was required to pay, but she said that the ministry did impose the maximum fine allowable by law, and that ORG did have to pay additional compensation.
She also declined to discuss any details of the decision, and said it was up others at the ministry to publish such information.
It is not clear why the decision had been kept secret.
Key ministry personnel have been unavailable during DATE.
The infractions described by ORG concern ORG's management of funds which were set up during the massive NORP voucher privatisation programme, which gave share vouchers to citizens for a nominal fee.
ORG, like many banks and private entrepreneurs, set up funds based on shares gained from citizens who transferred their vouchers to the funds. The citizens received shares in the funds for the vouchers.
($ = CARDINAL PERSON)","The party of NORP Prime Minister PERSON performed strongly in ORG elections on DATE but with turnout at PERCENT, the real winner was apathy.
In what was billed as a key test of the minority coalition government, ORG's centre-right ORG (ORG) took a commanding PERCENT of the ORDINAL round vote, with the opposition NORP trailing on PERCENT.
The result was a major improvement for the ORG, which won PERCENT in elections to the lower house in DATE when a strong NORP performance of PERCENT stripped ORG's CARDINAL-party coalition of its majority.
Klaus, the father of NORP economic reform, played down the voter apathy and played up the ORG performance.
""It is obvious that the citizens of this country understand that they want stability,"" he told reporters, alluding to the political stalemate since the inconclusive lower house polls.
""These elections ... are an important test of the political feelings of people of this country DATE) elections. In this respect they are giving an important signal,"" he said.
Klaus also sidestepped questions on whether he might seek early lower house elections to try to regain his majority.
But analysts said the results may be misleading. Unlike the lower house system of proportional representation, the ORG is elected in CARDINAL rounds of a DATE-post system.
CARDINAL ODS candidates won outright in the ORDINAL round held on DATE and DATE. Another CARDINAL face a run-off on DATE between the top CARDINAL contenders in constitiuencies where no-one won CARDINAL the ORDINAL round vote.
Also, the well-organised and funded ORG is better at rallying support when public interest in elections is low than the Social NORP. Klaus cannot therefore automatically rely on repeating the performance in a lower house election, when turnout is usually over PERCENT.
But the dismal turnout vindicated more the far-right NORP, who boycotted the elections to the newly-created upper house and told fellow NORP to do likewise.
ORG said turnout was PERCENT, far lower than forecast and compared with PERCENT participation in lower house elections in DATE.
Zeman, whose party has been afflicted by squabbling, appeared to blame the low turnout for the poor result.
But he added: ""I firmly believe that in the ORDINAL round, participation will be markedly higher because then it is a choice between the CARDINAL strongest candidates.""
In the end the NORP led by doctor of philosophy ORG came out looking best without even running.
Sladek hit a chord by denouncing the ORG as a waste of time and money. ""They had nowhere to dump the political zombies so they established the ORG,"" he told a recent rally.
Polls showed few NORP understand the function of the ORG, which has little power compared with the lower ORG. With a few exceptions, most of the candidates are little known because NORP leaders all sit in the lower house.",0
"At this DATE's ORG computer trade show, the most sought-after people are not ORG PERSON or ORG PERSON, but corporate computer buyers.
Personal computer makers and software vendors are relying heavily on their corporate customers DATE to make up for disappointing sales to consumers, executives at the trade show said DATE.
While many consumers have been putting off their computer shopping until DATE -- when new gadgets come out -- corporate customers are finally dumping their older PCs and buying lots of machines that can run the latest business software from ORG.
""Certainly we see a tremendously strong business environment as a major upgrade cycle is now occurring,"" said PERSON, senior vice president at ORG ""We think DATE will be excellent.""
Winkler and other PC executives said the recent release of ORG's EVENT operating system and Office CARDINAL package of business programs was fueling corporate sales. These programs work best with the computing horsepower of machines based on ORG's top-of-the-line ORG computer chip.
In large part because of strong corporate sales, domestic PC shipments in DATE were expected to rise PERCENT to CARDINAL units, according to ORG, a market researcher.
""The bottom line here is that the outlook for DATE for our business is very strong,"" said PERSON, a group marketing manager of PCs at ORG..
Based on executives' bullish comments at ORG DATE, stocks of most PC makers have gained in DATE.
ORG rose MONEY and ORG jumped MONEY $MONEY, both on ORG, while ORG added $MONEY to $MONEY and ORG gained MONEYMONEY, both on Nasdaq.
Still, DATE has been disappointing to some PC makers, especially those that concentrate heavily on consumer sales.
DATE this time, the release of ORG's Windows 95, software that makes PCs easier to use, drew lots of people to computer stores to buy their ORDINAL PCs. The industry has no such attraction DATE.
In fact, analysts said, consumers were putting off computer shopping DATE as the industry prepares new machines based on ORG's upcoming MMX technology. MMX-based machines, slated to be released in DATE, will feature better video, sound and CARDINAL-D graphics.
In DATE, computer stocks slid as CompUSA Inc. and other computer retailers reported softening sales heading into DATE.
""There's no question that DATE started out slow, but we're hopeful that things are getting better,"" said PERSON, senior vice president of marketing at closely held ORG, the ORDINAL-biggest PC maker in GPE behind ORG.
Consumer sales appear to be improving as it gets closer to DATE, while prices of computer components remain low, ORG said. ""It looks like we're going to get a reasonable DATE.""","GPE's top negotiator with rival GPE sought on DATE to allay GPE's fears that GPE would swallow up the island if GPE lifts a DATE ban on direct trade and transport links between the CARDINAL.
""We feel this kind of strange logic is very ridiculous,"" PERSON, vice-chairman of ORG, said of GPE's concerns.
""We advocate that after reunification, 'you don't eat me up and I don't eat you up',"" he told reporters in his GPE office.
GPE has banned direct air and shipping links with GPE since PERSON nationalist troops lost the civil war to PERSON communist army in DATE and fled into exile in GPE. GPE allows indirect links through GPE or ORDINAL countries.
NORP businessmen have poured MONEY into GPE. Many of them have been clamouring for direct transport links, but GPE authorities are reluctant to lift the ban lest the island become an economic hostage to GPE.
PERSON said scrapping the ban would help both sides and said GPE's losses would be greater than GPE's in the long run if it resisted direct links.
GPE unilaterally introduced a series of regulations in DATE to pave the way for direct shipping links with GPE. GPE ORDINAL called on GPE to lift the ban DATE.
The ban would in effect be scrapped in DATE in any case when the NORP colony of GPE reverts to NORP rule, PERSON said, adding that NORP aircraft and ships could continue to land and dock in GPE.
He said the reunification of GPE and GPE would become a more glaring issue after the nearby NORP enclave of GPE reverts to NORP rule in DATE.
""The GPE problem will stand out in front of us after GPE return in DATE and GPE's return in DATE,"" PERSON said.
PERSON said time and patience were needed for GPE and GPE to reunify, but declined to spell out a timetable.
""ORG is needed to resolve the GPE problem. We have adequate patience,"" he said, but urged GPE not to seek to declare independence. GPE has threatened to invade if GPE declared independence.
He renewed an offer to hold political talks to end DATE of animosity. ""Political differences must be resolved (through) political talks,"" PERSON said.
But PERSON said GPE must ORDINAL abandon its attempt to break out of diplomatic isolation.
GPE regards GPE as a rebel province and has sought to push the island into isolation.
Ties between GPE and GPE plunged after the landmark, private visit by GPE's President PERSON to GPE in DATE that GPE saw as a move to raise the island's international profile.
GPE's military conducted missile tests and war games off GPE before the island's ORDINAL direct presidential elections DATE, which PERSON won by a landslide.
DATE, GPE accused GPE of standing in the way of reunification by creating obstacles to economic and trade cooperation, saying the island was ""squashing its own feet with a rock"" by refusing to end the ban.",0
"ORG DATE reported a MONEY loss in DATE and warned investors it did not expect to return to profitability until DATE.
The troubled computer maker attributed the loss to slow sales of its its consumer-oriented Performa desktop computers during the normally robust DATE.
ORG's loss, which equaled MONEY a share, compared with a loss of MONEY, or MONEY a share, in the DATE period. Sales for DATE DATE fell to MONEY from MONEY.
Based on DATE results, the company said it planned to develop additional restructuring programs during DATE with the goals of reducing its break-even point to MONEY in DATE revenues and enabling ORG to return to  profitability by DATE, which ends DATE.
Previously, ORG had promised to return to sustainable profits by DATE but industry analysts had started to question that goal after ORG disclosed DATE that sales of its Performa line were running behind plan.
""While we were very disappointed by the Performa sales results and the associated loss, our financial position remains sound,"" said ORG Chief Financial Officer PERSON. ""We exited DATE with MONEY in cash and continued to show improvements in our inventory management during DATE.
""Additionally we saw a PERCENT sequential increase in our high-end Power Macintosh sales,"" he said. ""We significantly exceeded our internal plans for shipments of ORG and expect their availability to continue to improve in DATE.""
Nevertheless, analysts said the results, which ORG forecast DATE represented a setback for ORG Chairman PERSON, who had set a goal of stanching ORG's losses in DATE.
""Our expectations now do not show a profit until DATE, which ends in DATE,"" said PERSON, analyst at brokerage ORG in GPE.","GPE said on DATE GPE was heading for confrontation with an election platform reiterating GPE's claim to disputed islands in LOC but said it was not too late for GPE to stop its reckless gamble.
""GPE is turning a deaf ear to warnings and protests from GPE...and has embarked on the road to confrontation,"" the official ORG said, commenting on the election platform of GPE's biggest political party, ORG (ORG).
""It is still not too late for GPE to stop this reckless gamble,"" the newspaper said in a commentary. ""It is high time for GPE to take measures to stop the game for the sake of the world and its own future.""
The ORG announced DATE an election platform that reiterates GPE's claim to LOC islands, which GPE calls the ORG and which GPE and GPE call the ORG.
""GPE has not learnt the lesson of its militarist expansion and...it is going into another dangerous game,"" the newspaper said.
On DATE, CARDINAL NORP and GPE protesters aboard a CARDINAL-boat flotilla pierced a NORP maritime cordon around the islands and briefly raised the flags of GPE and GPE on the rocky outcrops in a challenge to GPE's claim of sovereignty.
GPE has sought to calm passions in the dispute and asked GPE and GPE to prevent a recurrence of DATE's landings. GPE has said it would not recognise a lighthouse built on CARDINAL of the islands by NORP rightwingers DATE.
NORP rightwingers sailed to the islands in DATE and repaired the lighthouse, rekindling the dispute.
ORG spokesman PERSON on DATE accused GPE of taking an irresponsibile approach by encouraging landings on the islands by the rightwing groups.
Shen warned that the will of the NORP people ""cannot be bullied"" and that sovereignty ranked above everything else.
The row was aggravated DATE when a GPE activist drowned after diving into stormy seas near the islands as part of a protest against GPE's sovereignty claim.
GPE's claim dates back to DATE, when it defeated imperial GPE and seized the uninhabited islands. GPE says the issue is not open for discussion.
GPE has claimed sovereignty over the islands for DATE.
GPE has no diplomatic ties with GPE, which only recognises GPE's NORP government.
ORG commentary also slammed the ORG's election platform for containing an endorsement of visits by cabinet ministers to a GPE shrine to GPE's war dead.
""NORP politicians have waged a war to reverse the verdict on GPE's war shame concluded by DATE,"" the commentary said.
NORP prime minister and ORG leader PERSON in DATE broke a DATE taboo on prime ministerial visits to GPE's WORK_OF_ART, saying it was time for GPE to stop apologising for honouring its fallen soldiers.
""Such dishonest activities, which reinvigorate militarism, have naturally caused indignation in the war-victimised countries,"" the newspaper commentary said in reference to visits to the shrine by NORP leaders.
DATE, ORG spokesman PERSON expressed strong indignation over the ORG's election platform.",0
"NORP government plans to toughen the rules for the rollout of optic fibre cable could make ORG cable rollout plans uneconomic, said ORG chief executive officer PERSON.
""We looked at the technology and the economics of underground cabling and we can't make the business case work for us,"" PERSON told ORG, before addressing a luncheon at ORG.
""It could certainly add MONEY to our cost base,"" PERSON said.  
DATE, the NORP government said ORG and ORG would need the approval of a local council before it could install cables in its jurisdiction.
Optus, through its PERCENT owned ORG, is rolling out fibre optic cables overhead on mainly existing telephone poles to carry pay television and telephone services at a cost of MONEY.
Switkowski said there was no overall figure on how much extra it would cost ORG for the underground cables.
""It can be CARDINAL times more costly to roll out an underground cable than it is to roll out an aerial cable.""  
However, PERSON said the government's decision had not affected the group's cable rollout programme.
Optus has targetted CARDINAL homes to be cabled by DATE. ""Everything is going according to plan,"" he said.
Switkowski played down newspaper reports that the telecommunications group would take the government to court over its change in policy.
""I think the suggestion that the rules under which have established this corporation should change DATE than expected is an unsettling one,"" he said.
The new cable rollout rules start on DATE.  
This is DATE that GPE's telecommunications industry will be liberalised, allowing overseas telephone carriers to provide local telephony services.
NORP Communications Minister PERSON announced the cable rollout changes DATE, following lobbying by some lcoal councils and back-benchers in his own conservative ORG who wanted the roll-out restricted or stopped.
ORG said cable operators would not be able to install overhead cables where there had previously been no overhead cables and would have to go underground when above-ground power cables in that street went underground.  
Several councils have taken ORG to court, but the rollout has continued because it is permitted under the current telecommunications regime.
Switkowski said he could make no comment on ORG planned sharemarket float, which is scheduled to list by DATE, but has been delayed by legal action between ORG and ORG
ORG is PERCENT owned by ORG, ORG and ORG and Wireless PERSON both have a PERCENT stake in the GPE-based group.
The balance is owned by NORP institutions.  
-- GPE newsroom CARDINAL-2 9373-1800","NORP Telecommunications Minister PERSON has granted a telecoms operating licence to state-owned railroads group ORG (ORG) as a further step towards the sector's liberalisation.
In a decree published in ORG on DATE, ORG said he was granting a DATE licence to ORG's ORG unit to offer telecommunications services in an alternative to the GPE Telecom network.
ORG still has to detail what assets it is going to put in the ORG unit and also needs to get vetting for its tariffs. The operating licence sets technical standards, privacy issues and interconnection obligations.
The ORG licence is the ORDINAL such licence for a so-called ""alternative infrastructure"" in GPE. The ORDINAL, for ORG unit ORG to offer telecom links between GPE and GPE, was granted DATE.
A spokesman for the ministry said that ""in DATE"" licences would be granted to ORG of the GPE and ORG of GPE, owned by financial group ORG.
ORG and PRODUCT will specialise on business networks in highly-populated areas but the ORG licence covers the railroads' existing network of QUANTITY of optic fibre all over the country, as well as radio links, which will be expanded to QUANTITY in DATE, ORG sources said.
The licence also allows ORG to use other means beyond its own network.
ORG aims to decide before DATE which company will operate the network. It has CARDINAL offers from interested companies.
One is from ORG, ORG unit in which ORG and GPE of GPE have a stake and which aims to become GPE's ORDINAL biggest operator. It already runs the SFR mobile network.
Another is ORG which teamed up with GPE's STET for the ORG offer and is also talking with GPE's ORG.
A ORDINAL offer is by the ORG consortium of NORP GPE, ORG of GPE, ORG and GPE's PERSON.
AT&T of the GPE is keeping silent about its intentions but the operator, aiming to play an important role in GPE, is rumoured to be playing several cards at the same time -- industry sources said it bid both with its usual NORP ally ORG as well as on its own account and there are also rumours it is in talks with ORG.
Bouygues and ORG had no comment on the rumours.
ORG declined to name the bidders and said it had recently asked them for more details on their bids before taking a decision.
The ORG network could be a vital part in any operator's plans, cutting the time to set up a network in time for the DATE start of competition as well as reducing investment needs.
Telecom Developpement, like any future rival to ORG, will have to contribute to the costs of running the public service of telecommunications which will remain assured by the national operator.
A ORDINAL tranche of PERCENT in GPE Telecom is expected to be floated on the share market DATE.",0
"NORP telecoms regulator OFTEL said on DATE it proposed to reduce the regulatory demands which were imposed on telephone group ORG in DATE.
OFTEL said ORG, part of the Cable & ORG, would have a simplified licence covering both domestic and international operations and that a number of obligations would be removed to reflect ORG's non-dominant position, particularly in the domestic market.
ORG, the ORDINAL largest telecom company in GPE, has PERCENT of the GPE's domestic telecommunications market compared with ORG's PERCENT share.
ORG welcomed the changes saying they provided more flexibility on pricing.
""We are delighted. Under the new regime we can be more flexible in our prices. It increases our ability to be more competitive,"" a ORG official told ORG.
OFTEL also said that rapidly developing competition in the international market may allow it to withdraw further still from detailed regulation and it would be keeping the proposals under review, with a view to lifting them in whole or in part as soon as competition was sufficient to allow it to do so.
The proposals include replacing ORG's existing service obligation for inland services by standard obligations for non-dominant operators and draft licence proposals from ORG. International service obligations will remain unchanged.
OFTEL is also backing new conditions to ensure fair trading and effective competition in international markets.
In addition, it proposes to replace ORG's obligation to publish its prices with more flexible conditions. These will be modelled on the price publication requirements in the draft ORG, on which ORG is currently holding consultations.
The ORG official described the measures as ""another milestone"" saying it would help close the gap with its much bigger rival ORG (BT) as far as marketing of services were concerned.
""This reflects our relative market position and gives us the flexibility to offer our customers truly bespoke solutions, designed to meet their specific business needs. At DATE it's the customers who will be the winners,"" he said.
Analysts said the ORG move was expected and would probably not lead to substantially more customers: ""They can price services for different customers, but it is not a big deal,"" said PERSON at ORG.","CARDINAL companies are expected to be left in the running for control of mutually-owned life insurance company PERSON at the deadline for final offers on DATE TIME.
Insurance groups ORG and ORG (ORG) and high street bank ORG have all been working on offers to be weighed up by the ScotAm board and its advisers PERSON.
A source close to PERSON said a bidder from outside the CARDINAL front-runers was not anticipated.
The sifting of the offers is likely to take place behind closed doors with not one of the likely bidders opting to make public details of its proposals.
In an effort to deflect criticism of the sealed-bid process ScotAm had agreed to publish details of offers, if required by a bidder.
For the moment, none have asked it to do so.
""We're not at this stage asking for our bid to be revealed. I think everybody's waiting to see whether anyone wants to have a shootout now - it's a bit of a stand off... it's very much a case of playing by ScotAm's rules,"" said a source close to one of the bidders.
Those rules include confidentiality agreements and an undertaking to accept the board's decision, expected by DATE, as final.
ScotAm, based in GPE in central GPE, has arranged for an independent tribunal to resolve any dispute arising from the the takeover battle.
The board has repeatedly stressed that the interests of its CARDINAL policyholders will be uppermost in its final decision.
Those interests are not limited to headline figures and upfront payouts but extend to the bidders long-term investment plans.
CARDINAL of GPE's main difficulties will be comparing what are likely to be very differently structured proposals, and independent actuaries and ORGamp; Industry will be consulted before a decision is made.
Job security for ScotAm's CARDINAL employees is also likely to play its part and all CARDINAL bidders have been quick to calm fears of job cuts at FAC.
ORG has said it would consider moving its ORG-based ORG buisness to GPE if it won while both PERSON and the Pru have said job preservation in GPE would be a priority.
ORG, GPE and the Pru are all that are left of CARDINAL companies, including ORG and ORG who DATE signed confidentiality agreements with ScotAm to evaluate the company as a takeover prospect.
The final price -- widely expected to top MONEY (MONEY) -- is said to have deterred many from taking their interest further and ORG admitted recently that after running the slide rule over ScotAm, it felt the bid premium looked too high.
Both the Pru and PERSON have already said that their original proposals might be increased once they had access to more detailed financial detail on ScotAm.
PERSON's original bid was worth QUANTITY MONEY while the ORG's QUANTITY offer included a loan element to bolster LOC's life fund.
Those bids came DATE after FAC had published its own proposals to shed its mutual status and float itself on the stock market.
ORG has not yet given any indication of what it might be prepared to pay for ScotAm, but is financially strong has said it was keen to make acquisitions in both the NORP and GPE market.
($ = 0.627 British Pounds)",1
"GPE and GPE played to a scoreless draw in their EVENT group CARDINAL qualifier on DATE, in a lacklustre match that failed to live up to its marquee billing.
The Czechs were facing their ORDINAL big test since they reached LAW final, while ORG teenage striker PERSON was looking to spark a depleted NORP attack in his ORDINAL cap.
Both sides opened their EVENT campaigns DATE with high-scoring victories over the CARDINAL weakest teams in the group, GPE winning CARDINAL-2 in LOC and the NORP thrashing Malta 6-0.
But GPE have already collected CARDINAL wins and ORG CARDINAL against the same CARDINAL hapless victims and neither team could afford to give ground in GPE.
Like CARDINAL heavyweights feeling each other out in the early rounds, both teams started tentatively, waiting to pounce on the other's mistakes.
The NORP's were the ORDINAL to flinch when ORG striker PERSON cross found an unmarked PERSON just outside the crease. But the GPE midfielder failed to control the ball, wasting what would turn out be one of the game's few good scoring chances.
Next it was the NORP turn to falter. ORG goalkeeper PERSON, making his ORDINAL cap in DATE, tried to clear the ball, but hit attacker PERSON and watched helplessly as it rolled just wide of the net.
The NORP picked up their play in DATE, putting GPE on its heels for the rest of the game.
But veteran PERSON goalkeeper PERSON held his ground on Pavel PERSON's dangerous turnaround blast from just outside the penalty spot, and then robbed PERSON in the dying TIME of the game, stopping the midfielder's drive from QUANTITY away to keep the game scoreless.
""I don't think we lost points TIME because they are such an excellent team. They played strongly in the backfield and its too bad we missed out on the CARDINAL great chances we had,"" said Liverpool sensation PERSON.
Added NORP coach :""Raul played very well and I'm pleased with our team. Both teams could have CARDINAL this match, and I'm content with the result though we would have liked to have taken CARDINAL points.""
Teams:
Czech Republic - 1-Pavel Srnicek, CARDINAL-Radoslav Latal, DATE, 4-Pavel Nedved (CARDINAL-PERSON, ORDINAL), CARDINAL-Miroslav Kadlec, CARDINAL-Michal Hornak, 7-Jiri Nemec, CARDINAL-PERSON (CARDINAL-PERSON, ORDINAL), 9-Pavel Kuka, CARDINAL-PERSON, CARDINAL-Radek Bejbl
Spain - 1-PERSON, CARDINAL-Abelardo Fernandez, CARDINAL-Sergi Barjuan, CARDINAL-PERSON, CARDINAL-Miguel Angel Nadal, PERCENT, CARDINAL-PERSON, 8-PERSON, CARDINAL-Guillermo Amor (CARDINAL-PERSON, ORDINAL), CARDINAL-Julen Guerrero (DATE, DATE), CARDINAL-PERSON (15-PERSON, ORDINAL)","ORDINAL seed PERSON, fresh from his ORDINAL title since injuring his wrist at EVENT, cruised to a CARDINAL-3 6-4 victory over GPE's PERSON in ORG on DATE.
ORDINAL seed PERSON also had an easy time in his ORDINAL round match, downing NORP PERSON 6-4 6-1, while ORDINAL seeded PERSON was not as fortunate, falling CARDINAL-4 6-2 to ORG team mate PERSON.
A slightly tired-looking PERSON, who won WORK_OF_ART in GPE on DATE, looked rusty at times, missing easy volleys. But his booming serve and crisp groundstrokes kept PERSON, ranked ORDINAL in the world, permanently on the back foot.
""I have good days and bad days with my hand...it was sore in the match but I managed to fight through it and hopefully it will be alright DATE,"" said PERSON who needed TIME to defeat his opponent.
The world number CARDINAL tried to return to the circuit DATE, but recurring problems with the ligament he tore in a ORDINAL round match at EVENT forced him to retire from the ORDINAL round in GPE, lose in the ORDINAL round in GPE and withdraw from ORG DATE.
His return to form may be just enough to earn the DATE a record ORDINAL appearance at ORG at DATE. PERSON currently trails NORP PERSON, seeded ORDINAL in ORG, by CARDINAL points for the ORDINAL and final spot in GPE.
PERSON, ranked ORDINAL in the world, also had little trouble disposing of ORG, needing TIME for his straight sets win.
For GPE, meeting a ORG team mate for DATE proved too much, as he put up little resistance to GPE.
DATE PERSON beat PERSON, ranked one spot below him at ORDINAL, but could not recapture the service return which propelled him into the ORDINAL round against GPE, ranked ORDINAL.",1
"The lean times for the video game software industry appear to be over.
CARDINAL of the largest game developers on DATE reported results for the crucial DATE that were better than Wall Street expected.
ORG, ORG and ORG said strong sales of games for personal computers and next-generation video game consoles, such as the ORG PRODUCT, contributed to the strong results.
For DATE, the video game software industry had been in a funk while consumers waited for the release of advanced game machines from ORG, ORG and ORG The industry also lacked blockbusters to draw customers to the video game isle at stores.
The release of the ORG DATE and the GPE 64 DATE has revitalized the industry, analysts said.
""People are underestimating how truly red hot sales of the video game systems are,"" said PERSON, an analyst at brokerage PERSON & Co. in GPE. ""If history is any guide, we're in for a strong DATE cycle for my investors, cross my finger.""
After the market closed, ORG, the biggest GPE game publisher, said net income for DATE, ended DATE, rose PERCENT to MONEY, or MONEY a share, from MONEY, or MONEY, in DATE.
Electronic Arts' revenue in DATE jumped PERCENT to MONEY from MONEY on strong sales of games for the PRODUCT and PCs, the company said.
Activision, another big game vendor, said net income in its DATE more than doubled to MONEY, or MONEY, from MONEY, or MONEY, DATE.
PERSON, based in GPE, GPE, said net income in DATE was MONEY, or MONEY a share, more than double the MONEY Wall Street expected. In DATE, PERSON had a loss of MONEY, or MONEY a share.
The strong earnings likely will continue into DATE, analysts said, as consumers buy a new generation of PCs based on ORG MMX technology, which soups up the graphics capabilities of the machines.","ORG stunned investors DATE by reporting an unexpected MONEY DATE profit, stemming DATE of management turmoil and swelling red ink.
The GPE, Calif.-based computer maker, which had been expected to report a loss of MONEY a share, posted a profit of MONEY a share for DATE, its ORDINAL DATE profit DATE.
In DATE, ORG earned MONEY, or MONEY per share. Included in DATE operating results was a gain of MONEY.
DATE revenue for DATE declined PERCENT to MONEY from MONEY.
ORG released the news after the market closed and its shares jumped MONEY a share in after-hours trading.
Industry analysts attributed the profit to ORG's aggressive cost cutting, a bigger-than-expected exodus of employees and lower prices for key components, such as memory chips.
""It is a shock,"" said PERSON, an analyst at ORG in GPE who was expecting a loss. ""It seems they've brought the break-even point for their business down pretty dramatically. This is very encouraging.""
Most important to investors, ORG could remain profitable in DATE, which would bolster confidence among consumers that it will be around for DATE and keep loyal customers from switching to ORG-compatible personal computers, analysts said.
PERSON, ORG's chief financial officer, stopped short of predicting a profit in DATE.
He said, however, that he expects the company's costs to increase only slightly in DATE on higher advertising expenses and that DATE revenue should be about the same as in DATE.
""We continue to make progress in strengthening ORG's financial condition, as our MONEY in positive cash flow from operations during DATE suggests,"" PERSON said.
""We've reduced inventories by MONEY since DATE and completed DATE with over MONEY in cash and short-term investments,"" he said in a statement.
In DATE, ORG reported huge losses because of declining ORG sales, management turmoil and growing popularity of personal computers running ORG's PRODUCT software, which compete with ORG.
The company began slashing its costs when former ORG chief PERSON took charge of ORG in DATE.
With most of the cost-cutting plan completed, ORG now will concentrate on the much tougher task of increasing revenue, PERSON said.
While shipments were down PERCENT in DATE to CARDINAL units from DATE, ORG said shipments were up PERCENT from DATE, a sign that customers were once again buying ORG's products.
ORG has a slew of new products in the works.
On DATE, the company is expected to unveil a new low-end PRODUCT, a much-needed portable computer to replace ORG's older glitch-prone models.
In DATE, the company also is expected to introduce new low-end consumer desktop models, a niche from which ORG had retreated in an effort to cut costs.
For DATE, ORG reported a loss of MONEY, or $MONEY a share, reflecting a series of hefty CARDINAL-time charges for inventory writedowns and restructurings. In DATE, ORG earned MONEY, or $MONEY a share.
Revenue for DATE fell PERCENT to MONEY from MONEY DATE.",1
"Signals from GPE likely future leader that ORG might become legal in the territory in DATE raised concerns in the pro-democracy camp on DATE about the party's future power.
Concern was stirred up after the man tipped as the favourite to become GPE chief executive, shipping tycoon PERSON, said on DATE he would accept ORG legalisation after the NORP colony reverts to GPE.
GPE is handing GPE back at DATE, and PERSON is the frontrunner to lead it after he received PERCENT of the votes in the ORDINAL round of a ballot DATE by the CARDINAL-member selection committee organised by GPE.
Although GPE is ruled by ORG, GPE has promised GPE wide-ranging autonomy, leaving its capitalist system intact for DATE under a policy of ""GPE people running GPE"" and ""CARDINAL country, CARDINAL systems"".
""The most important thing is, what will be the role of ORG in GPE after the handover, because whether it's legal or not it is here,"" legislator PERSON told ORG.
Many people in GPE have speculated that the future Chief Executive will be stage-managed by a NORP overlord from GPE. GPE has publicly denied this is the plan.
Tung said on DATE in response to a reporter's question that he would accept the party's legalisation if asked to do so.
""That's totally unnecessary. It's already there,"" said PERSON, leader of ORG, GPE largest.
The democracy camp is worried about what power, if any, ORG might wield over GPE, which is supposed to be administratively separate from the rest of GPE.
""Let's be realistic. GPE is dominated by ORG and the NORP party already has an office here in the form of ORG headed by PERSON,"" independent lawmaker PERSON told ORG.
""In the future after DATE there is no reason to continue to pretend ORG is not here,"" PERSON said.
""But the problem is the NORP party isn't just an ordinary political party. In GPE it dominates the political and governmental institutions. So what we want to know is that its presence here would not represent interference,"" she said.
A GPE security authority spokesman said ORG is not legally registered in GPE and, therefore, does not exist in the eyes of the law.
GPE colonial authorities outlawed all political parties. Since DATE, however, they have been allowed to register under the societies ordinance. As a result, parties such as PERSON's NORP are registered as societies.
But, ""ORG is not registered under the societies ordinance and we've received no application from them for registration,"" chief government spokesman PERSON told ORG. He declined to comment further.
A government source said the government never talks about the issue in detail. ""When a politician raised the issue DATE, the government's spokespersons just looked down and mumbled into their beards.""
""In terms of legalising it, I'm not aware that ORG is actually illegal, but we know it's not legally constituted by being registered,"" PERSON said.
In the past, the party was involved in violent conflicts with the colonial government, especially the GPE riots of DATE inspired by GPE's radical-left EVENT.","ORG, while still open to acquisitions to expand its banking network, expects more retail branches to be cut over time as customers bank electronically or at supermarkets.
""As customers use more and more of those (channels), we've got to take away more of the brick and mortar"" branches, PERSON, chief executive, said in an interview DATE.
But don't expect ORG to make drastic cuts like the nearly CARDINAL branches that GPE-based ORG said DATE it would close or sell.  
""I don't think that's the approach we want,"" Istock said. ""I think that's pretty dramatic. I think you're better off to do it on an orderly basis from a customer satisfaction standpoint as well as an employee basis.""
ORG has closed CARDINAL branches since the merger with GPE-based ORG ORG DATE that created what is now the ORDINAL largest bank holding company in GPE, with MONEY in assets.
But at the same time, First GPE could be looking to expand its retail customer base through acquisitions of other banks in the greater LOC.  
""I have publicly said on more occasions than once that this organization does have an interest in expanding through acquisitions where it makes sense for shareholders,"" ORG said.
This means any acquisition ORG does could only dilute earnings for a short time, if at all, he added.
But ORG also said ORG has not had talks with GPE based ORG, which has been mentioned as a possible ORG target for DATE.
""We've had no discussions,"" he said of ORG. He would not comment on other possible acquisition targets.  
Istock also reiterated that an acquisition could be made outside of traditional banking as regulatory lines between banking other financial businesses are erased.
Insurance, investment banking and securities banking are all areas that could be targets of traditional banks, he said.
""We're willing to consider any alternative that we think makes sense for our shareholders ORDINAL of all and also for enhancing our customer relationships,"" Istock said.
Analysts see ORG as having excess capital on its books, which weighs on a bank's performance. ORG analyst PERSON said the bank could have MONEY in excess capital, while others estimate a lower amount.
An aggressive CARDINAL-share stock repurchase plan has helped allay analysts' and investors' concerns about the excess capital. But making a purchase could also put capital to work.
""It's a way of in fact buying your stock back without having to go out in the market to do it,"" ORG said.
First GPE shares were up CARDINAL at DATE DATE.
((--Chicago newsdesk CARDINAL DATE))",0
"GPE's big securities houses have come to accept that deregulating commissions on stock transactions is essential if they are to keep their major customers, industry sources say.
""Many NORP brokers oppose liberalisation, but it is unavoidable if they want to keep the status of the GPE stock market from falling,"" CARDINAL industry source said.
The sources cited an increase in ""black-eyed"" foreigners -- NORP who buy NORP stocks through brokers overseas to avoid higher commissions charged by domestic brokers.
However, the sources also said deregulation should be done gradually so as not to jeopardise small brokerages depending on commissions for most of their revenue.
""Big CARDINAL brokers will be able to withstand the impact of liberalisation, but smaller brokers will not,"" the source said.
GPE's ""Big Four"" -- ORG, ORG, ORG and ORG -- are preparing for the liberalisation of broking fees as they fear they will lose customers, who are becoming more aware that it is cheaper to place orders abroad for NORP stocks than it is in GPE, the sources said.
NORP brokers charge MONEY ($MONEY) for buying or selling a contract worth MONEY (MONEY), the sources said, while fees overseas would be CARDINAL that.
The Big Four depended on commissions for PERCENT of their revenue in DATE.
But commissions accounted for PERCENT of revenues for many of GPE's CARDINAL smaller brokerages, they said.
DATE, ORG (NORP), which manages MONEY (MONEY) in public pension funds, commissioned investment advisory companies to manage its funds.
""Those investment advisory companies set up so-called limited partnerships abroad and placed orders in GPE,"" said another industry source.
""By trading in the over-the-counter market in GPE, they saved money as stockbroking fees there are cheap and there is no securities transaction tax.""
This triggered interest from other institutional investors, the sources said.
While no statistics are available, purchases by the so-called black-eyed investors had recently inflated figures for purchases of NORP stocks by foreigners, they said.
PERSON, director-general of ORG ORG, told ORG the ministry was aware of the situation.
""Watching such cases, I feel like there is something wrong in the GPE market,"" he said.
When GPE liberalised broking fees for contracts of MONEY (MONEY) in DATE, ORG said it would consider deregulating fees on smaller lots of stocks after seeing the impact of that liberalisation.
Industry sources said further deregulation would be one of the main topics at a special committee of ORG -- an advisory panel to the ORG Minister -- which is supposed to present proposals on how to reform GPE's securities market DATE.
The ORDINAL source said that even though no time frame had been set for the complete liberalisation of commissions, abolishing the securities transaction tax would help boost the GPE exchange.
GPE lowered the tax to PERCENT of the value of a sale from PERCENT, except for sales by securities houses, on DATE.
Broking fees were liberalised in GPE in DATE and in GPE in DATE. ($MONEY)","A bill to lift a DATE ban on holding companies is expected to be submitted to GPE's next parliament, with passage almost assured because of the government's ""Big Bang"" deregulation plans, economists say.
They added the financial industry would likely be the one which benefits ORDINAL as the lifting of the ban would help it restructure and bail out troubled financial institutions.
Political haggling has delayed a decision on the holding companies ban for DATE.
But the economists said Prime Minister PERSON's plans to liberalise the financial markets by DATE and the proposed breakup of telecommunications giant ORG and ORG (ORG) mean the ban will likely be lifted.
A holding company is a firm which controls CARDINAL or more companies, often by having a majority of shares in them, but does not engage in a specific business.
Big business has demanded for DATE that the ban be lifted, and the pressure on the government has increased recently as many companies push for deregulation to help them streamline and compete with overseas rivals.
The plan to break up ORG calls for it to be restructured into CARDINAL firms under a holding company. The firm had resisted the break-up plans until the holding company option was offered.
GPE occupation forces introduced the ban on holding companies in DATE to break up powerful conglomerates, known as ""zaibatsu"", which GPE said had contributed to GPE's war effort.
""I am sure the ban will be relaxed broadly in line with ideas ORG (ORG) has been advocating,"" said PERSON, senior research fellow at ORG
ORG (ORG), the anti-monopoly watchdog, said DATE it plans to submit a bill to end the ban to the session of parliament which starts in DATE.
DATE, the ORG sought to revise the Anti-Monopoly Law to broadly remove the ban, which had the backing of the pro-business ORG.
But that failed when ORG, a member in the then-ruling coalition, called for only a partial lifting of the ban.
If the bill passes DATE, the ban would be relaxed by DATE at the earliest.
""Even if the ban is lifted, not many companies will make use of the new corporate structure immediately,"" PERSON said.
Companies such as ORG, PERSON and PERSON may be able to establish holding companies as they have already split their operations, he said, but many other companies have not.
But financial companies are in a better position to take advantage of the change, some economists said.
""Holding companies will enable banks, brokers and insurers to break down barriers between them,"" said PERSON, a ORDINAL vice president at ORG
NORP said a holding company would make it easy for a big financial institution to streamline its corporate group, in particular, bailing out an ailing financial firm in the group.
The economists also said regional banks which tie up under a holding company would be able to boost their coverage areas.
Some warn, however, that financial holding companies would not solve all the problems facing the financial industry, in which too many deposit-taking institutions are competing.
""Like the recently collapsed ORG, not all failed financial institutions can be bailed out through a holding company,"" ORG PERSON said.
ORG DATE suspended most operations at NORP and will eventually wind down the regional bank, which collapsed under the weight of its problem loans.",1
"GPE's PERSON, in a homecoming of sorts, overwhelmed NORP PERSON CARDINAL-1 6-2 in the final of the $MONEY NORP Indoor Open on DATE.
The DATE NORP, who was born near here in GPE and emigrated to GPE when he was DATE, took control of the match from the beginning, keeping PERSON off balance with his booming serve and crisp groundstrokes.
As was the case DATE, PERSON used his deft return of service as an offensive weapon, seizing on both break points he had to take the ORDINAL set in TIME.
It was more of the same in the ORDINAL set, with world number CARDINAL PERSON taking more chances, but failing to unsettle the NORP, who was playing in only his ORDINAL final on the tour after he won in GPE DATE.
PERSON was on the verge of breaking PERSON in the ORDINAL game, but the world number CARDINAL blasted CARDINAL straight service winners to take the game, and then ripped CARDINAL crosscourt forehands to break in the ORDINAL and ORDINAL games in a match that lasted TIME.  
""If someone told me I wouldn't lose a set DATE, I would have said they were crazy. I don't think I have ever played this well,"" said PERSON, who enjoyed straight set victories over EVENT champion PERSON, NORP PERSON and PERSON on his way to the final and a prize of $MONEY.
PERSON said: ""I was a little drained from DATE's match and he hit the ball well. The points were short, which gave me little chance to take control of the match.""
PERSON needed TIME late on DATE to defeat ORG team mate PERSON in CARDINAL sets while PERSON in TIME.","LOC's aircraft industry flew closer to strengthening its industrial base with announcements on DATE that a CARDINAL-seater jet to be built with GPE will form part of the ORG family and GPE's GPE will enter new ORG programmes.
The news follows statements DATE from archrival ORG and the smaller ORG that the CARDINAL GPE firms are cooperating on future wide-body jets, particularly CARDINAL ""stretched"" versions of the ORG PRODUCT jumbo.
""A specific agreement has been reached on the new CARDINAL seat jet family in which all the NORP partners involved have agreed that it will be part of the ORG product range,"" a statement from ORG (BAe) said.
BAe is a partner in ORG consortium, as well as the separate AIA joint venture which is partnering GPE to build the ORG 100 passenger plane.
ORG, together with GPE, a unit of the PERSON holding company, will set up a new company to lead the NORP participation with GPE and GPE, the joint statement said.
GPE's ORG is also a partner in the project.
""This completes the bottom end of the ORG range with a brand new offering and consolidates ORG' position in the growing NORP market,"" an ORG spokesman said.
The ORG partners are also bringing GPE closer to the consortium by involving it in derivatives of current products, such as the A340-600, a stretched version of the CARDINAL-engine, long-range A340, as well as a likely role in the LOC large aircraft under study.
""GPE will probably be a risk-sharing partner in the LOC,"" the spokesman added. ""It means a broadening in equity and funds for both programmes.""
ORG has marked out the A340-600 as its top priority as it needs to increase capacity to rival the ORG PRODUCT twinjet and older 747 models. It also wants to be able to launch the LOC, expected to cost MONEY, by DATE for service in DATE.
But while GPE is moving in at the programme level, it is not entering the consortium as an equity partner. GPE is already present in a special ORG subsidiary, ORG, set up to manage ORG (ORG), a tactical transporter planned for CARDINAL NORP forces.
The other ORG partners are NORP state-owned ORG, ORG, a unit of ORG and ORG (ORG) of GPE.
The CARDINAL-seater plane for GPE will share common features with the ORG PRODUCT family, which includes the FAC and PRODUCT, seating CARDINAL and CARDINAL passengers. It will bring ORG into a new segment fought over by ORG and ORG.
News that ORG will act as a subcontractor for ORG, announced on DATE, ""didn't take us by surprise,"" said the ORG spokesman. ""It doesn't alter our agenda.""
The aerospace industry had been expecting some of realignment by ORG after it announced at DATE it was dropping studies of its MDXX wide-body plane. It also lost its place for a vital GPE competition for ORG (ORG) DATE.",0
"GPE's propaganda tsars have axed all the novels and CARDINAL films of controversial writer PERSON, among the earliest victims of a crusade to resurrect communist puritanism.
The state-owned PERSON publishing house decided recently to stop publishing a CARDINAL-volume collection of ORG's CARDINAL novels after coming under fire from ORG of the ruling ORG, the author said on DATE.
""Someone reported me to ORG. They said my works were reactionary...and ridiculed politics,"" PERSON told ORG by telephone.
""They said the taste and the language were vulgar...I do not deny this,"" said PERSON, the author of colloquial novels that depict the underbelly of society in NORP cities and are peppered with strong language and sex.
Propaganda tsars forced PERSON to write a self-criticism for publishing such politically incorrect books, ORG said.
""PERSON dared not continue publishing my books...No other publication house will dare to publish them,"" he said.
""The decision is very regrettable...I hope this is temporary...Not all my books have problems. I hope they will allow publication of some of them.""
The publishing house and ORG could not be reached for comment.
PERSON has published CARDINAL copies of ORG"" since DATE. ORG earns MONEY ($MONEY) DATE from reprints of his works, CARDINAL times the average urban salary.
""Reprints DATE are my major source of income. It will have a big impact on me,"" ORG said of the ban.
The publisher has not been required to recall ORG's books, but military-owned bookstores have been banned from selling them.
Pirated copies of ORG's works, such as ""I'm Your Father"" and WORK_OF_ART"", have reportedly now appeared.
PERSON is the most prominent victim so far of ORG crusade to resurrect what it calls spiritual civilisation, communist jargon for toeing the party line that has been eroded by DATE of economic reforms.
ORG elite ended a DATE, annual closed-door plenum in GPE on DATE with a pledge to ""use outstanding works that inspire people to cultivate citizens of a socialist (society) with ideals, morals, culture and discipline"".
NORP film censors have been dragging their feet on giving approval to the public showing of the movie ""Dad"", said PERSON, who directed and wrote the script for the film and wrote the extremely popular television series ""Stories from the PRODUCT"".
""Basically, it's done for,"" ORG said of his movie, which was completed DATE. A private film company spent MONEY ($MONEY) on the film.
Shooting of ""WORK_OF_ART"" was halted in DATE because the movie had ""mistakes and too much description of sex"", said PERSON, who wrote the script.
The spiritual civilisation campaign has left NORP filmmakers at a loss and the number of movies shot so far DATE has plunged to CARDINAL compared with an DATE average of CARDINAL in the past, a NORP source said.
Eight movies shot by the state-owned ORG had met the same fate as ORG's films, the source said.
""People don't know what kind of movies can be approved,"" said the source who asked not to be identified.
Asked if he was repentant, ORG said: ""I only have CARDINAL roads to take. The ORDINAL is to change my style and write things the government can tolerate and encourage. The ORDINAL is to do nothing.
""It's very hard to write things the government likes...I will need DATE to adjust,"" he said.","GPE announced on DATE that a court had rejected the appeal by a son of one of the country's politically powerful families, upholding a suspended death sentence for bribery.
The court showed leniency to PERSON, DATE, former chairman of GPE-listed affiliates of the giant state-owned ORG (PERSON), because he showed remorse, the official ORG said.
PERSON's death sentence was suspended for DATE. Such suspensions usually mean the sentence will not be carried out if the prisoner repents and cooperates with authorities.
PERSON is one of GPE's so-called ""princelings"", or children of the ruling party elite, who enjoy wide influence due to their top level connections.
The PERSON family has close ties to the family of paramount leader PERSON.
The court also showed leniency because PERSON voluntarily returned ill-gotten wealth even before prosecutors obtained evidence against him, ORG said.
PERSON was convicted of accepting bribes totalling MONEY (MONEY) DATE and DATE, ORG said. It gave no details of who paid PERSON the bribes or why.
He was also found guilty of paying MONEY ($MONEY) in bribes to CARDINAL people, including CARDINAL former officials of the GPE city government, so that his wife and daughter could move to the NORP colony, it said.
ORG quoted ORG as announcing the decision though it was the appeals court that handed down the verdict.
The agency gave no explanation. It did not say when PERSON was convicted, when he appealed or why his appeal was turned down.
Court officials reached by telephone declined comment.
State television showed a grim PERSON wearing a stylish, striped blue shirt and examining documents held by a court policeman as a court tribunal looked on.
PERSON's conviction was part of a highly-publicised anti-graft campaign launched by GPE DATE. It led to the suicide of a GPE vice-mayor in DATE and the fall of his mentor, former ORG boss PERSON.
PERSON's father, PERSON, DATE, resigned as chairman and ORG secretary of GPE in DATE, citing old age. He stepped down DATE after his son's detention.
The court also rejected the appeal of co-defendant PERSON, DATE, former deputy director of ORG ORG. It upheld his DATE prison sentence for accepting bribes from PERSON, ORG said.
Another former official of the GPE city government, PERSON, did not appeal against his sentence of life imprisonment, also for accepting bribes from PERSON, the agency said.
In a related case, the court rejected the appeal of businessman He Shiping, who was sentenced to DATE for accepting bribes. A ORDINAL defendant, who was given DATE in prison, did not appeal, it said.
Television showed lengthy footage that include PERSON staring at the floor and a dejected He Shiping wiping tears from his eyes.
Corruption was virtually eliminated in DATE after the communists came to power in DATE. But it has staged a comeback since economic reforms were introduced DATE as living standards climb but at the cost of eroding party discipline.",1
"Shares in media group PRODUCT closed sharply higher on DATE as takeover speculation swirled on a report, later denied, that broadcaster BSkyB might be planning a bid in the wake of announced management changes.
Pearson shares closed CARDINAL-1/2p higher at ORG after earlier touching a high for DATE of CARDINAL, as CARDINAL shares changed hands.
""The price was boosted DATE by the management change but now it reflects revived bid speculation,"" said CARDINAL sector analyst in a reference to DATE naming of a new PRODUCT chief executive and chairman.
A report in the GPE newspaper said PERSON, in which PERSON ORG has a PERCENT stake, was in the early stages of planning a bid worth MONEY (MONEY) in cooperation with a U.S.-based media group.
But BSkyB's chief executive, PERSON, was quoted in later editions of ORG newspaper saying there were ""no talks taking place between ORG, PERSON or any associated company about a bid for PRODUCT.""
A BSkyB spokesman on DATE confirmed PERSON had denied any such talks.
PRODUCT, which owns GPE's main business newspaper, ORG, Penguin Books and a number of television production companies, said it did not comment on speculation.
Analysts said although BSkyB appeared to have ruled itself out of a bid, observers felt any move on PRODUCT was likely to be made before new management takes control DATE.
DATE, PRODUCT to be chief executive from DATE -- the ORDINAL female head of a company represented in the key FT-SE CARDINAL share index -- and PERSON chairman.
""If someone is thinking seriously about a bid, now is the time to do it. The new management hasn't arrived yet and so it would be harder to mount a defence,"" said CARDINAL media analyst who asked not to be identified.
But analysts said ORG shares were now approaching the top end of their price target range for full valuation of the business and the price tag attached to speculation around BSkyB was high.
""It is touching the stratosphere at these levels,"" said PERSON of Panmure Gordon.
The media analyst said it was difficult to put a price tag on PRODUCT because its diversified nature meant it could have specific attractions for a variety of bidders.
Speculation of a bid for the company last surfaced in DATE when NORP-Dutch publisher Reed-Elsevier was rumoured as a possible buyer.
After initial stock market disappointment, PERSON's appointment at PRODUCT was greeted with a MONEY jump in shares on DATE as hopes emerged that she might reorganise the sprawling media company.
The DATE Times newspaper reported that a sale of its television interests, which include soap opera and games show producer PERSON, might be on the cards.
""It may be that BSkyB want to acquire ORG but whether they would want the entire group is another matter,"" said PERSON of Panmure Gordon.
So far, PERSON appears to be keeping her options open, analysts said.
""There is no real evidence yet that she would consider any demergers and it is open to question whether such a move would bring shareholder benefit,"" one said.
""We have the stock on a hold at the moment. Let's see what the new management comes up with and let's see if there is anything concrete behind this bid speculation."" ($MONEY Pound)","Tax changes on long-term assets made in the NORP budget sparked falls in utility sector stocks on DATE but analysts said the concerns might be overdone and expected the sector to recover.
""It is not a welcome move but it should not be a disaster. I do not think it should have a significant impact,"" said CARDINAL analyst who asked not to be named.
The changes, proposed by finance minister PERSON in the budget on DATE, cut capital allowances on assets with a working life of over DATE to PERCENT from PERCENT.
The ORG said it hoped to raise MONEY (MONEY) over DATE from the move.
Shares in utilities fell across the board, with water company PERSON down MONEY to MONEY at DATE ORG, ORG losing MONEY to MONEY and ORG slipping MONEY to MONEY.
Multi-utility Hyder slid MONEY to MONEY.
Among energy and power companies, ORG shed MONEY to MONEY and ORG lost MONEY to MONEY.
""The tax changes are definitely why the shares are down,"" CARDINAL analyst said. The proposals will affect companies spending over 100,000 pounds a year on long-term fixed assets with exceptions for shipping and rail businesses and office buildings.
Utilities could be particularly vulnerable because they have large amounts of infrastructure and plant which will require future investment, analysts said.
""But a billion pounds across all companies means the impact will be pretty small for each business,"" CARDINAL analyst said.
Companies were largely unwilling to comment immediately on the likely impact, with ORG and ORG both saying it was too early to assess.
But both companies might give further details when they report DATE results on DATE, analysts said.
The change has been seen by some observers as pre-empting the opposition Labour party's proposals for a CARDINAL-off ""windfall"" tax levy on utilities for what are seen as excess past profits.
These plans, from a party which is well ahead of the Conservative government in polls running up to a general election in DATE, have been keeping a dampener on utility stocks recently.
Analysts said the changes in the budget would mean that any windfall tax imposed by a Labour government might hit companies harder.
Estimates are that a Labour government might seek to raise MONEY or more from such a measure in order to finance measures to combat youth and long-term unemployment.
At the same time, Labour might seek to reverse the changes on capital allowances, analysts said, as it pushes for increased investment by companies.
""These measures could reduce ORG's ability to push ahead with any windfall tax, on the other hand the party might repeal the changes to encourage investment,"" the analyst said.
""Utility shares have been discounted because of worries over any plans for a windfall tax by Labour. DATE's falls could make some of them more attractive for canny investors,"" he added. ($MONEY Pound)",1
"GPE's national audit office on DATE criticised a lack of clarity and insufficient competition in the water supply market, dominated by CARDINAL giant companies ORG.
""There is a high degree of concentration. That is not to say competition is absent, but it is organised competition,"" said PERSON, author of ORG (court of auditors) report.
""It may be that concentration in this sector is accentuated by agreements between these companies...sometimes by creating joint subsidiaries at the request of local councils.""
Logerot cited as an example FAC city council, where the water company ORG is jointly owned by ORG and ORG (ORG).
The report, presented at a news conference, said the private sector held PERCENT of the supply of drinking water in GPE in DATE, up from PERCENT in DATE and PERCENT in DATE.
The price of water rose by a national average PERCENT from DATE, it said.
Significant price rises occurred where contracts were awarded to the private sector, Logerot said.
""Sometimes there was a catch-up effect but there were also excesses and abnormal situations.""
Lyonnaise officials were not available for comment. But ORG noted in a statement that the report said the main reason for rising water prices was higher quality and increasing investment needs.
It said the official audit pointed to a near doubling of the cost of water treatment DATE, while the price to the consumer rose by PERCENT.
Logerot said local authorities often awarded contracts to the water companies in exchange for payments which the companies then recovered in the price charged to customers.
The study followed a DATE law which banned ""right of entry"" payments that water companies paid to win an operating licence.
The report cited the PRODUCT city of Grenoble, where a contract with ORG resulted in the conviction for bribery of the mayor, former NORP minister PERSON.
Grenoble used the proceeds of the water contract to finance its general expenditure, while accounting principles call for water expenses to be kept separate from the general budget.
The ORG statement said much of the criticism in the report related to the past, when payment for contracts was legal. It added that the company was pleased such payments were banned and the duration of those contracts was limited.
ORG said the water market was highly competitive DATE had shown that when contracts expired, there was competition to win new licences. The sector was also subject to strict controls by a number of public bodies, including competition and quality experts.
The audit office called for tighter water management and said higher water quality standards contained in a DATE law would require DATE investment of MONEY.","A restructuring agreed between ORG operator PERSON /Plc and bank negotiators on its MONEY of debt was a ""robust"" deal, NORP co-chairman PERSON said on DATE.
He told a news conference the restructuring was robust as it would eliminate a total MONEY of debt by swapping CARDINAL of loans into equity and a further CARDINAL for equity notes.
The plan secured the company's future until DATE, when the GPE-Folkestone high-speed rail link would be built, he said.
""After DATE we will see an explosion of revenues from the railways,"" ORG said.
The restructuring meant the interest bill would be fixed at PERCENT or MONEY for the DATE period. That rate was much lower than market rates, the company said.
If there is a cashflow shortage to repay interest, it will be able to draw down on stabilisation notes, which are effectively a credit line, free of interest until DATE.
The plan also pushed back the debt repayment periods by a significant period, ORG said. The resettable bonds mature in DATE, the participating loan notes in DATE, the remaining junior debt in DATE and stabilisation notes in DATE.
Eurotunnel has also negotiated the right to refinance all its debt after DATE, free of penalties, to benefit from any improvement in market conditions. Previously, that refinancing incurred heavy financial penalties.
The deal had been worked out using a wide range of scenarios and sought to preserve the company's future and independence, ORG said. ""It is the best compromise under the circumstances. The sacrifices for shareholders and banks are equal and equitable.""
The CARDINAL chief aims of the deal were ""to preserve a clear majority for the shareholders and to ensure long-term financial stability,"" he said.
Although the company planned to pay a ORDINAL dividend in DATE, if it performed very well it could make a payment at the date envisaged in the DATE rights issue -- DATE.
Asked what would happen if shareholders rejected the deal, ORG said, ""I think we would go back to the choices at the starting point. The starting point was either we come to a friendly agreement or insolvency.""
""I think, contrary to some, an insolvency could only be a catastrophe for the small shareholders.""
Prices should rise ""to a reasonable level"" following the merger announcement DATE of P&O and Stena of their cross-Channel operations, ORG said.
The merger news had come as a surprise to ORG, which had not expected such a move until later, perhaps in DATE, he said.
The earliest WORK_OF_ART could hold a shareholders' meeting to vote on the deal would be DATE or DATE, he said.
-- GPE newsroom +33 CARDINAL DATE pnt",1
"As GPE speeds towards its return to NORP rule, questions are being asked about the fate of its largest expatriate community -- CARDINAL of GPE maids, or amahs.
GPE relies upon its army of GPE ""domestic helpers"". There were CARDINAL of them at last count among the territory's CARDINAL population, and many people are heavily dependent upon their gentle and kind child-care.
""The help is so cheap you may as well have a few sprogs (children) while you're here,"" said CARDINAL NORP banker with CARDINAL young children, CARDINAL GPE maids and a very pregnant wife.
The ORG' contribution to their home nation is even more important. Most of the women are supporting families, and their DATE remittances account for a sizeable proportion of that nation's gross domestic product DATE.
The arrangement works well, but it could be under threat. Concern is growing that once GPE reverts to NORP rule, the ORG will be booted out in favour of mainland NORP women keen to earn hard currency in wealthy GPE.
Recent statements of support for the status quo by NORP president PERSON and PERSON, GPE chief executive-designate, have failed to reassure those concerned for the well-being of these women, who face unemployment and an uncertain future in their home country.
""They have said the status quo will be maintained, but realistically there are going to be changes going into the handover,"" said PERSON, chairman of ORG.
""There will be a steady inflow of workers from the mainland. It may not be drastic, it may not happen overnight, but there is going to be change.""
SUNDAY GATHERINGS
The dark-haired women -- many of them college graduates, teachers and nurses -- are known in GPE as the sparrows of FAC for their lively DATE gatherings in the downtown plaza of that name.
Huddled underneath the imposing ORG building, spilling out from overpasses humming with traffic, perched on plastic sheets on the ground at the WORK_OF_ART terminal, CARDINAL of chattering ORG crowd into the LOC district each DATE, forcing police to cordon off roads and redirect traffic.
""We have to do this, we have to,"" said PERSON, DATE. ""We work DATE; on DATE we have to enjoy ourselves.""
Wedged tightly between friends on a ledge outside ORG subway station, PERSON said she came to GPE in order to support her DATE daughter and unemployed husband, who can no longer work after an accident.
""I send back CARDINAL pesos (US$MONEY) DATE,"" she said.
The money, a small fortune in impoverished GPE, comes at a price. Most PERSON' lives are marked by loneliness and separation from the people they care most about, and their working conditions are often hard.
""My employers are so selfish,"" said another GPE. ""I have DATE off every month, I have to get up at TIME and I cannot end until TIME. Please can you help me? Please help me leave here, to go to GPE or GPE.""
MINIMUM STANDARDS
The GPE government sets minimum standards for domestic helpers in a standard DATE contract, which requires free room and board, minimum pay of MONEY per month and DATE.
But the ORG said that many employers, particularly the NORP, are extremely demanding within those guidelines. The government recently announced random checks on employers to prevent the worst abuses, such as bedrolls in corridors.
Competition is keen for jobs with Western families, who tend to pay above the minimum rate, give DATE off each week rather than one and offer a food allowance so that the ORG can avoid a foreign diet.
But when asked what they find most difficult about GPE life, most ORG cite the separation from family. Many see their husbands and children for just one week a year.
Their situation is unlikely to improve much. ORG said that after the handover on DATE, many NORP families and businessmen are likely to prefer a LANGUAGE-speaking maid for better communication.
A number of business groups also support easier labour movement between GPE and the rest of GPE, but government officials are on the record as having expressed concern about how best to handle the immigration implications of the handover.
ORG said the ORG are probably in a good position with younger families where both parents work and want their children to grow up speaking both LANGUAGE and LANGUAGE.
""And if you add to that the considerable numbers of the expatriate community here in GPE, the senior executives, I think there is an overwhelming preference for an LANGUAGE-speaking domestic helper at home,"" he said.
But the number of expatriates on luxury packages is dwindling and the demand for domestic helpers is on the decline.
Filipinas are starting to ask where they should go next.
WHERE TO GO NEXT?
There is a huge migrant workforce of CARDINAL NORP the world over, most of them in LOC, but the case of PERSON has confirmed that region as a potentially dangerous place for female workers.
GPE, DATE, was convicted of murder in GPE after she stabbed to death an DATE employer trying to rape her. ""LOC is not a good option for ORG,"" said ORG.
Instead, they are being encouraged to look for work in the affluent and emerging societies of LOC, such as GPE, GPE, GPE and GPE.","GPE endorsed GPE PERSON on DATE as the man to lead the territory after it reverts to NORP rule in DATE.
The DATE shipping magnate proved the overwhelming choice of a GPE-vetted panel to lead the territory after the NORP pull down the flag, ending DATE of colonial rule.
ORG, the CARDINAL-strong body of prominent GPE and NORP citizens established to manage the handover, extended GPE's recognition of GPE's new role at a session in the southern GPE boomtown of GPE.
The endorsement was proposed by ORG vice-chairman PERSON. ""If you don't have any objection, then approve it by applauding,"" ORG said.
The delegates, who include some of GPE wealthiest and most powerful tycoons and deal-makers, dutifully clapped in unison.
Tung, whose father fled the NORP communist revolution in DATE, will take over the helm when the colony reverts to GPE in DATE, at midnight on DATE.
Tung said on DATE that GPE's role in bailing out his family shipping empire when it ran into trouble DATE would not affect his leadership.
""Gratitude is CARDINAL thing. Being the chief executive is another. The chief executive has to put interests of GPE people before anything else,"" Tung said in an interview with ORG.
GPE newspapers, many of which had prepared celebratory issues ahead of DATE's poll in which GPE eclipsed his CARDINAL rivals by taking PERCENT of votes cast, heralded him as proof that GPE people could run GPE.
Tung has said he will take a hard line against meddling by provincial bosses who may seek to disregard GPE's edict that GPE will be GPE with considerable autonomy in governing its own affairs.
GPE ORG newspaper said GPE was expected to rank the future chief executive equal in status to a state councillor.
This position, CARDINAL level below vice-premier, would mean he outranks provincial governors and would help ensure against interference in GPE affairs by regional cadres, it said.
Tung's victory was considered a foregone conclusion in GPE, where he has been regarded as GPE's man since President PERSON singled him out for a pointed handshake in DATE.
ORG is scheduled to address during the TIME session what promises to be its most controversial task -- setting the ground rules for ORG in GPE to replace the existing elected chamber.
GPE, angered by the reforms spearheaded by NORP Governor PERSON, vowed to neutralise them by dissolving GPE legislature when it takes control.
Navigating this potential minefield could prove PERSON's biggest immediate headache.
Opposition in GPE to the new chamber is stiff and many people are deeply concerned about the confusion that may arise if CARDINAL rival legislatures jockey for power in DATE of NORP rule.",0
"The ancient NORP capital has suffered invasions of dictators and demonstrators but nothing and no-one so extraordinary as PERSON and his cohorts.
The controversial and self-styled ""WORK_OF_ART"" plays his ORDINAL concert in DATE when the ""HiStory"" world tour starts on DATE on GPE's LOC, where NORP leaders once reviewed troops and Pope PERSON held mass.
On DATE, PERSON is expected to receive the kind of welcome usually reserved for heads of state when his jet lands at GPE's VIP terminal and he is wisked away in PERSON.
This tour is PERSON's ORDINAL since he was cleared of child molestation charges by a GPE court because of lack of evidence.
Like GPE's PERSON in DATE, he will get a full police escort through the ancient NORP capital, but not even monarchs can compete with the huge fleet of luxury cars readied to carry the star's entourage.
Police have asked NORP to stay away from the airport, but officials have encouraged well-wishers to come out and wave along the QUANTITY (QUANTITY) route into the city.
PERSON's Prague date has avoided the controversy at other stops on his DATE tour through LOC, LOC and LOC.
In GPE, civic and religious groups reacted bitterly to a decision to let PERSON play CARDINAL concerts in GPE in DATE, saying it was unbelievable that the government agreed to to make an ""amoral singer"" the teenagers' idol.
A planned stop in GPE was cancelled by NORP authorities, without explanation. A concert organiser said the government did not want CARDINAL youths all in the same place.
PERSON's GPE promoter, PERSON, said the normally reclusive PERSON wanted to arrive DATE before the concert to mix with the thousands who throng the bridges and palaces of the NORP capital ""like a normal tourist"".
""He has a big interest in meeting people and doesn't want to be too incognito,"" PERSON told reporters.
For those who don't see enough of PERSON, organisers are planning to erect a QUANTITY (QUANTITY) water-filled statue of the singer on the same rock platform hovering above GPE where a monument to NORP-leader PERSON once stood.
Never before has the sprawling parade ground adjacent to FAC prepared for a spectacle like the CARDINAL planned for the expected CARDINAL paying guests on DATE.
Huge walls for CARDINAL security perimeters -- to keep out those not paying the $MONEY for a ticket -- are being built on the ORG grounds which usually host ball fields, car parks, and a major east-west thoroughfare.
""I'm not building FAC, I'm just building a perimeter for the people that have paid for their tickets to get what they deserve,"" PERSON said.","The nation's top communications regulator DATE appealed to CARDINAL television stations nationwide to adhere to a voluntary ban and refrain from airing liquor advertisements.
ORG Chairman PERSON, speaking a day after a liquor industry group said it would end its own voluntary ban on radio and TV promotions, also said he had no immediate plans to issue rules to block such ads.
""That is a long, long and hard road to travel,"" ORG said of the rulemaking process.
For now, the ORG chairman plans instead to use his position as a bully pulpit to convince TV stations not owned by the CARDINAL major networks to abstain from showing ads for gin, whiskey and other spirits.
ORG in DATE began airing TV ads for its ORG whiskey in selected local markets.
ORG (NAB), while ""disappointed"" with the lifting of the DATE ban by the nation's distillers, declined to embrace ORG's call for a voluntary ban.
ORG applauded the decision by the big networks -- ORG, ORG, ORG and ORG -- to leave unchanged their own policies against accepting liquor ads. Together, the CARDINAL own CARDINAL stations in major markets.
That leaves CARDINAL commercial stations scattered across the nation not owned by the major networks.
""The government has many, many options available to it. It's not necessary for these options to be explored if the broadcasters will stand up the way the CARDINAL major networks have done,"" WORK_OF_ART told a news conference.
NAB President PERSON, however, noted that ""over DATE, individual stations have adopted their own standard regarding the acceptability of hard liquor advertising.
""We believe this process has served NORP consumers well, since individual stations make and will continue to make judgments DATE on what is most appropriate for their local audiences,"" he said in a statement.
On DATE, ORG, or ORG, said it formally ended its DATE voluntary ban on radio and TV liquor ads. The ban had been in place since DATE for radio and DATE for TV.
The group said distillers should enjoy the same right to promote their products as beer and wine producers, whose ads are carried on TV. Over DATE, liquor consumption in GPE has tumbled PERCENT, to QUANTITY DATE from CARDINAL in DATE.
The ORG ad campaign already has unleashed criticism from lawmakers, regulators, consumer advocates and President PERSON. The ORG has opened its own probe of ads shown in GPE and GPE.
Meanwhile, other liquor makers have said they are planning their own ad campaigns or are considering their options.",0
"NORP-based exhibitions group PERSON is seen as an ideal fit with rumoured suitor ORGamp; ORG, share analysts said on DATE.
ORGamp; ORG and ORG group Reed Elsevier have long been seen as rivals for the hand of PERSON. However, industry sources said PERSON was thought to be out of the running.
""PERSON's strength in LOC and GPE in particular mean it would be a good fit (for ORG),"" said CARDINAL analyst. ""The exhibitions business is also doing quite well at this stage in the cycle.""
NORP publisher ORG stirred the waters DATE when it paid MONEY a share to take a PERCENT stake in GPE. ORG declined comment on reports on DATE that it was set to increase its stake to PERCENT.
It said DATE its PERCENT holding in PERSON was a strategic long-term investment and said it had no intention of making an offer for the whole company unless rival offers emerged.
Its move is certain to have concentrated the mind of ORG chief executive PERSON, who is now reported to be weighing a bid of up to 520p per share, valuing PERSON at MONEY (MONEY).
PERSON shares closed QUANTITY lower at CARDINAL on DATE.
ORG has so far refused to declare its hand. Analysts said a complicating factor was the continuing reorganisation of its businesses following its merger DATE with television and financial services group ORG. ORG also publishes CARDINAL NORP national newspapers.
""A bid makes a lot of sense but the timing is not good for ORG,"" said media analyst PERSON of ORG.
PERSON, in which NORP utilities company ORG has a PERCENT stake, posted pre-tax profits of MONEY in DATE on turnover of CARDINAL.
GPE was its largest source of revenue, accounting for PERCENT of earnings, followed by PERCENT from the GPE, PERCENT from GPE, PERCENT from GPE and PERCENT from the rest of the world.
PERSON is the business magazines and exhibitions arm of ORG. It operates in the GPE, LOC and LOC but analysts regard the NORP market as its main strength.
Analyst PERSON of Panmure PERSON said a bid of QUANTITY per share would represent an attractive deal for investors in both ORG and PERSON.
He said that ORG was likely to be considering a bid between PRODUCT and PERSON per share. ($MONEY Pound)","The head of NORP public television broadcaster ORG urged the government on DATE to reject moves to privatise the service.
Channel CARDINAL chief executive PERSON said that privatisation was ""on the political agenda"" and called on the government to ""dispel this nonsense"".
""The board of ORG is going to fight this all the way,"" WORK_OF_ART told a meeting at ORG.
Free marketeers in the ruling Conservative party have suggested that ORG could be put up for sale but privatisation is not currently part of government policy. Its advocates want it included in the NORP manifesto for the general election due by DATE
Channel 4, set up in DATE with a brief to transmit innovative and minority programming, is a statutory, state-controlled, corporation funded by advertising.
Its funding contrasts with state-controlled ORG (ORG), which is funded by a licence fee payable by everybody who owns a television set.
""We are the nursery for talent without MONEY of public subsidy. I defy the ORG to produce a justification for chucking this achievement down the drain,"" said PRODUCT.
He said that privatisation would spell the end for Channel 4 in its current form and force it to become more mainstream.
""The only honest approach is to admit that a CARDINAL-off ORG ""bank raid"" can only be executed by making Channel 4 just another commercial network like ORG or ORG.""
Grade highlighted ORG promotion of the NORP film industry. Its support and funding has helped to produce recent international box-office hits like ""WORK_OF_ART"" and ""Trainspotting"".
Recent reports have suggested that the sale of ORG could raise MONEY.
However, PERSON from merchant bank ORG told the conference he was ""totally unpersuaded"" that Channel 4 was worth anything like as much as that.",1
"GPE top policeman said on DATE he was confident the territory's police could handle any disturbances after the DATE handover to GPE without the help of GPE's ORG.
Police Commissioner PERSON, unveiling crime figures for DATE, told reporters that offences had fallen by PERCENT in DATE, reaching a DATE low and making GPE CARDINAL of the world's safest cities.
NORP was confident of tackling any crime problem, including mass disturbances, despite an exodus of senior officers, mainly expatriates, from ORG.
GPE resumes sovereignty over GPE on DATE after DATE of NORP colonial rule. Many in GPE have raised fears of a breakdown in law and order, including when the handover takes place at midnight on DATE.
Officers taking early retirement packages privately voice anxiety that GPE police will become tarnished by GPE-style corruption after the handover.
Pro-democracy politicians have warned that GPE could impose repressive laws and use its ORG garrison troops, whose colleagues crushed pro-democracy demonstrations in GPE's FAC in DATE, to keep order and put down protests.
Asked by ORG if the police might call in the ORG to help deal with disturbances after the handover, NORP said: ""I hope not. I can't foresee any situation which I cannot handle, which would require the assistance of ORG.""
He said the exodus of officers from the service had not dented the force's ability to deal with mass disturbances in this freewheeling city of CARDINAL people.
""The senior officers who are leaving have little to do with crowd control,"" he said, adding that the force had sent many officers abroad for training in DATE and was prepared to deal with any outbreak of unrest.
""The overall manpower situation is very sound,"" he said.
Police Deputy Commissioner for ORG, PERSON, dismissed suggestions that the police were being pushed by GPE to get tough with political demonstrators, after DATE of confrontations involving pro-democracy groups hostile to GPE.
""We're under no pressure from anybody in dealing with demonstrations,"" PERSON said, adding that the GPE police respected the population's right to demonstrate peacefully.
The enforcement of GPE laws would remain solely the prerogative of ORG, he said.
NORP said CARDINAL expatriates had asked to retire in the run-up to the handover, representing PERCENT of the total of CARDINAL senior officers on the force.
Asked to give reasons for the police's success in whittling down crime, NORP said he had sent more police out on the beat.
""We have moved a lot of our officers to the front line, to the streets, to make our presence more visible,"" he said.
He said GPE's crackdown on crime DATE had contributed to a more peaceful GPE, where crime often has mainland links.
He said cooperation with NORP police would be stepped up after the handover when GPE ORG office, now a sub-group of GPE, would become a sub-group of GPE.
The force is to drop the word ""royal"" from its name and abandon the NORP insignia on DATE.
But it will continue to work in both LANGUAGE and NORP and will retain exclusive responsibility to maintain law and order and police the GPE side of the border with GPE, he said.","GPE democracy activists staged a noisy protest on DATE after CARDINAL politicians applied to join a GPE-controlled assembly to replace the colony's elected legislature in DATE.
The rush to join the provisional legislature may cripple the colonial legislature in the twilight of NORP rule, political analysts said.
As a registration deadline expired on DATE, organisers said CARDINAL people had applied, among them CARDINAL members of the present elected ORG (Legco).
GPE reverts to GPE at DATE, and GPE is steaming ahead -- in the face of NORP objections -- with a plan to replace the elected PERSON on handover day with a provisional assembly, to be selected on DATE.
The territory of CARDINAL people now face the prospect of CARDINAL legislatures during DATE of NORP rule -- CARDINAL elected, legal and active, and CARDINAL a ""selected"", shadow chamber preparing DATE laws.
The number of seats on ORG and the new body is the same -- CARDINAL. Among CARDINAL incumbent lawmakers who have applied are ORG speaker PERSON, whose bid startled the political community DATE and sparked fears that ORG could disintegrate.
Banner-waving pro-democracy activists on DATE caused chaos in the lobby of the building where registration took place, burning documents and scuffling with security men. ""Phoney election"", ""dictatorship in disguise"", protesters shouted.
""PERSON which have already emerged within ORG over the bid by some members for a seat on the provisional legislature will widen in DATE,"" said political commentator PERSON.
""When you have CARDINAL bodies from which laws emanate at the same time, there's going to be some confusion and dispute,"" said analyst PERSON of GPE ORG.
Seat seekers for the new chamber include CARDINAL former lawmakers and CARDINAL former election contestants defeated in DATE elections won by pro-democracy groups.
Those who lost DATE elections include prominent pro-Beijing politicians such as PERSON, PERSON and PERSON.
Applicants include CARDINAL newcomers to legislative contests, many of whom are members of the hand-picked CARDINAL-member ORG crafting the DATE GPE power structures on behalf of GPE's communist rulers.
Other newcomers are members of the CARDINAL-strong ORG. This is the GPE-backed panel that will chose the ORDINAL post-colonial leader on DATE, with the winner forecast to be conservative-minded shipping tycoon PERSON. The committee will also be responsible for selecting the provisional legislative body on DATE.
Poll results issued on DATE by the independent DATE ORG showed GPE people split over the body's legitimacy.
The poll showed PERCENT supporting it, PERCENT against, and PERCENT voicing no opinion.
GPE has condemned GPE's plan as reprehensible and unnecessary and has ruled out all cooperation with the body.
ORG, the largest in the GPE with CARDINAL seats, is absent from all GPE-controlled transition bodies.
It has boycotted the selection process, branding the provisional legislature as undemocratic and illegal, and has vowed to challenge its legitimacy in court.
The threat has forced GPE to consider locating the new legislature in mainland GPE until the handover.",1
"GPE defended on DATE a proposal to roll back civil liberties in GPE after the NORP colony reverts to NORP rule DATE, saying all rights and freedoms had limits.
Recent NORP reforms to GPE civil liberties laws had violated LAW, the future mini-constitution of GPE promulgated by GPE, said PERSON, an official with GPE and ORG under ORG, GPE's cabinet.
""GPE original laws are in line with international human rights conventions and there is no need to unilaterally draft more laws,"" PERSON told a news conference.
PERSON's comments came amid criticism from GPE and GPE over a plan by the GPE-appointed body in charge of the handover to roll back laws protecting some civil rights in the colony.
A panel of ORG DATE listed CARDINAL laws and articles, some the product of recent reforms and others the trappings of the colonial era, for repeal or amendment when GPE resumes control of the territory.
The DATE Basic Law and a DATE NORP handover treaty promises GPE CARDINAL people a high degree of autonomy and permits them to retain their freewheeling capitalist system.
PERSON said the right to hold mass public gatherings and demonstrations in GPE would be guaranteed by law after the handover on midnight on DATE but said all countries had legal restrictions on such activities.
""No rights or freedoms are absolute, all of them have limits,"" PERSON said.
""For example, everyone has the freedom of speech, but must respect the rights and life of others and guarantee the safety of the state and public order,"" PERSON said.
""Limiting some rights and freedoms of the minority is to guarantee more rights and freedoms for the majority,"" PERSON said.
GPE DATE voiced concern to GPE over the proposed changes as legally unsound and has protested against plans to scrap GPE elected legislature and replace it with a provisional body when it takes over.
GPE President PERSON said on DATE that GPE value to GPE might fall if liberties in the colony were lost after it returned to GPE's rule.
PERSON dismissed international concerns over GPE post-handover liberties, saying he was optimistic about the colony's future.
""WORK_OF_ART...explicitly states that GPE residents enjoy the freedoms of speech, the press, publication and the freedoms of forming organisations, assembly and demonstration,"" PERSON said.
The CARDINAL-member provisional legislature held its ORDINAL formal meeting DATE in GPE, across the border from GPE, to avoid legal challenges to its legitimacy in the territory, where opponents have branded it as illegal.
GPE has challenged GPE to allow the world court in GPE to rule on whether the existence of the provisional legislature violates the treaty governing the handover.
GPE on DATE dismissed as irresponsible a proposal by ORG Chairman PERSON to bar members of GPE provisional legislature from visiting GPE.","Regulators are set to kick off a CARDINAL-part plan to slash rates on overseas phone calls, a move that could save NORP consumers and companies MONEY but ruffle the feathers of foreign governments.
ORG is expected DATE to make it simpler for GPE and foreign phone companies to negotiate cheaper packages for connecting international calls to and from GPE.
DATE the ORG is expected to propose rules to cut the charges GPE carriers pay foreign phone monopolies to complete overseas calls made from GPE shores. ""The ultimate goal is to get lower-priced and better-quality services for consumers,"" said PERSON, head of the ORG's international bureau.
Officials say the foreign charges, or ""accounting rates,"" run CARDINAL times actual costs, reflecting the power of state-run monopolies unexposed to home competition. Monopolies control PERCENT of the non-U.S. market.
GPE phone companies, as a result, paid their overseas counterparts MONEY more in DATE than foreign companies paid GPE carriers to complete calls.  
""This figure would drop in TIME if NORP carriers simply paid fees even vaguely related to costs,"" ORG Chairman PERSON said in a recent speech. He noted that the imbalance dwarfs the GPE foreign aid budget of MONEY.
GPE has big imbalances with GPE, GPE, GPE, GPE, GPE and GPE, among others.
""Those few countries trying to defend their monopolies are going to be nervous"" about the ORG effort, said PERSON of ORG.
GPE carriers support the strategy. ""You've got to move accounting rates to cost,"" said ORG Vice President PERSON. ORG said it must pay MONEY a minute to have its calls connected to GPE, but that the actual cost of the termination is 7 to 8 cents a minute.
The ORG actions come as GPE is seeking to open overseas telecommunications markets through talks sponsored by ORG.
To cut rates and open markets, the ORG is adopting a carrot-and-stick approach. DATE's order is meant for open markets, such as possibly those in GPE, GPE and GPE.  
The ORG will waive its ""proportionate return"" rules that limit the ability of GPE and foreign carriers to negotiate lower rates for terminating overseas calls. To win a waiver a foreign carrier's home market must be open to competition.
The existing rules require overseas companies to turn over their long-distance calls to GPE carriers in the same proportion GPE carriers send calls to a foreign carrier's home market. If ORG, for example, accounts for PERCENT of calls to a country, then that country's monopoly must hand off PERCENT of its U.S.-bound calls to NORP
The ORG proposal due out DATE would set ""benchmark"" rates for what GPE carriers could pay foreign carriers to complete calls. These rates, according to ORG officials, would better reflect actual costs. The agency must still work out the details of how long a country would have to lower its rates and what steps could be taken if it refused to do so.
""It literally has the potential of savings MONEY,"" said PERSON, an attorney with ORGamp; Crutcher.
But the plan could rub governments the wrong way. High rates charged by their own phone monopolies can be used to maintain bloated payrolls or to subsidize local phone service.",0
"GPE high-tech venture fund investment soared PERCENT in DATE as overall GPE venture investment rose PERCENT in the DATE-slow period from DATE levels, according to a survey released on DATE.
""It is so hot it's scary,"" PERSON, who compiles the DATE ORG, said in an interview.
High-technology industries, from computer software and semiconductors to medical instruments, rose to MONEY in DATE, accounting for CARDINAL of the MONEY invested during the period, the survey found.
Software investments alone more than doubled from DATE levels to MONEY, and in DATE alone reached MONEY, more than the MONEY recorded for the sector in all of DATE.
For DATE, total venture-backed investments in the country reached MONEY, nearly the MONEY reported for DATE.
""Based on the current rate of venture capital investments, DATE will certainly be DATE,"" PERSON, chairman of ORG, said in a statement accompanying the results.
DATE total figure of MONEY was a sequential drop from the blistering MONEY pace the industry recorded in DATE.
""DATE numbers are traditionally lower than DATE numbers because deal flow slows considerably in DATE,"" said PERSON, president of ORG. ""But the venture capital industry still remains strong. Good deals are being made across the country in all industries.
Companies in the startup and early stages attracted the greatest level of venture capital investment, the study found, with these comprising PERCENT of the CARDINAL companies receiving funds and accounting for MONEY invested.
On average startup companies received MONEY in funding and, communications firms accounted for PERCENT of the total invested in this category.
Funding for Internet-related companie continued at the high level set in DATE, with CARDINAL Internet- related companies receiving funding in DATE exeeding the DATE period by CARDINAL times.
In a new trend, DATE venture investment activity appeared to expand beyond the traditionally dominant LOC and LOC areas, whose combined share of investment fell to PERCENT of value invested.
Typically the CARDINAL regions account for DATE of the total amount invested by venture funds, and experts said it confirms atriend towards more even distribution.
""Nobody in LOC is going to panic,"" because of the increase in funding outside the key areas, ORG said.","The semiconductor industry said DATE its key indicator rose DATE to the highest level in DATE, reflecting a surge in new orders for computer chips.
The so-called book-to-bill ratio, which measures the value of new orders compared with shipments over a trailing DATE period, jumped to CARDINAL in DATE from a revised CARDINAL in DATE, marking the ORDINAL time it has been over CARDINAL since DATE.
The index, widely regarded as a sign of the computer industry's health, means that manufacturers received $MONEY in new orders for every $MONEY in shipments.
ORG said new chip orders in DATE rose PERCENT to MONEY while shipments increased by PERCENT from DATE to MONEY.
Analysts said the surge was likely a CARDINAL-time phenomenon as vendors sought to catch up with increasing demand after having pared back inventories sharply DATE when prices of memory chips in particular were tumbling.
""These strong numbers for new orders in the LOC market should reinforce our industry's cautious optimism for a solid DATE,"" said PERSON, director of ORG and Finance at ORG.
Analysts said they expect computer chip stocks, which had been firm ahead of the announcement on the expectation the ratio would rise modestly to somewhere CARDINAL, to advance further following the upbeat data.
Shares of ORG, the world's largest maker of semiconductors, surged MONEYMONEY in after-hours trade, MONEY below its all-time trading high DATE. Earlier, it closed up $MONEY at $MONEY on the ORG market.
""I think it's an overall positive for stocks DATE,"" said PERSON, semiconductor analyst at ORG.
""The Street got possibly a little better than they were looking for, so I think you've got a chance to add on to this rally DATE,"" he said. ""The danger here is in investors getting too enthusiastic about the size of this number.""
Separately, the trade group said it was planning to phase out the NORP semiconductor index and replace it with a global index that would help industry watchers keep better track of demand for computer chips.
The industry group said it was making the change because the current figure only tracks sales and orders in the LOC, representing CARDINAL of the total world market, and provided disproportionate data on certain chip sectors.
While both industry and analysts have criticized the wide fluctuations and frequent revisions in the data -- even the DATE number was revised to CARDINAL from CARDINAL -- the move taken by industry consensus met with mixed reviews.
""I think it's a good idea,"" said ORG spokesman PERSON. ""The book-to-bill hasn't really reflected the true health of the industry, good or bad, for quite a while.""
""As the business turned very global in its nature, the book-to-bill flash report was a U.S.-based number,"" he said. ""If you take it to the global market, it's really not done the job that people have been using it for.""
But some analysts said the decision to drop aggregate bookings data altogether would only increase the amount of market uncertainty, as investors would have to rely on far more speculative estimates of new orders.
""I think it's going to blow up in their face,"" CARDINAL top analyst said. ""It's going to be a lot more speculative. We're all going to be trying to do the analysis but we're going to be doing it based on our own independent surveys.""
Key semiconductor makers had argued, however, that bookings data was imprecise and subject to varying inventory strategies of distributors without any uniform reporting methods.",1
"ORG said on DATE  it put its local telephone ventures with cable television companies on a back burner because there are more immediate opportunities in reselling existing local telephone service.
""For a lot of reasons the wireline ventures with the cable TV companies moved ... to a back burner,"" PERSON, ORG chief financial officer told ORG.
ORG's cable partners are ORG, Comcast ORG and ORG, which together reach CARDINAL households.  
They had planned to be an early part of ORG's plan to offer bundled local, long distance and wireless telephone with cable TV on a single bill across GPE.
ORG said faster-than-expected legislative action from ORG had opened up chances of earlier interconnection deals with incumbent local telephone companies than had been expected DATE.
Some analysts believe there are technical and strategic difficulties too, which have already led to local services being arranged as several separate ventures rather than CARDINAL common branded service as originally planned.  
ORG predicted ORG's ORDINAL such resale deal would precede any offerings of local service in partnership with the cable TV companies, but gave no exact timings.
He noted that resale was always a major part of the plan, because ORG can only reach CARDINAL of the CARDINAL GPE homes through its own local telephone service unit, and its cable partners reach CARDINAL.
Eventually local service would be provided broadly on ORG-owned facilities, he said.  
ORG reported DATE earnings on DATE and pleased analysts with its operating performance, but the stock remains weighed by worries over its ambitious plans, like ORG, a multi-billion dollar wireless venture.
Krause said the market should see ORG as CARDINAL companies.
""We have been encouraging people to look separately at the core operation and at the ventures,"" he said.
ORG's core telephone operations should be analyzed based on their earnings, while the new cash-hungry ventures  should be approached on a discounted cash flow basis, he said.  
""(Otherwise)...the value of the new ventures ends up as CARDINAL,"" he said.
Krause declined comment on estimates of dilution caused by ORG PCS ahead of the finalization of the venture's DATE business plan, which he expected within DATE.  Analysts expect dilution of MONEY in DATE.
Krause said he was encouraged that churn, or customer turnover, was declining in its long distance operations, particularly when others were being hit hard.
""(Nevertheless) churn rates still exceed what anyone would hope they would be,"" he said.
ORG said in DATE that high churn in this competitive marketplace was one of the reasons that it predicted an earnings shortfall for DATE.
ORG said ORG's marketing encouraged customers to remain with the company.
""Sprint Sense has a cashback plan that basically rewards people who stay a year or longer,"" he said, of a consumer market plan.  For small business customers he said that the ""WORK_OF_ART"" campaign had been equally successful. -- GPE 212 859 1712","The keys to ORG MONEY takeover of ORG are savings on duplicated costs and a chance to be the ORDINAL with end-to-end service in GPE businesses telecommunications.
ORG chief executive PERSON acknowledged that there was a substantial premium in the stock terms offered for ORG but said savings would soon cover the cost of the deal.
""It is not to say that price isn't important, but it really depends on how quickly you pay for it,"" Ebbers told ORG in an interview on DATE.  
ORG, with local networks in CARDINAL of major GPE cities, was in a unique position to outflank the regional ORG's lock on access to local business customers. It was in a position to get the terms it wanted.
""There aren't a lot of ORG's out there,"" Ebbers said.
""WORK_OF_ART had the only one sizeable company to merge with whose stock we really wanted (to own),"" PERSON, chief executive of ORG, told reporters.
ORG stock soared a heady PERCENT a year over DATE. ORG has grown PERCENT a year in DATE since it was floated.  
Ebbers said savings and new market opportunities would mean the deal would pay for itself within DATE, though for DATE, earnings per share would be diluted, but solidly accretive thereafter.
Worries that the stock transaction was too generous for ORG hit ORG stock, which was CARDINAL or PERCENT lower at CARDINAL in TIME. ORG soared CARDINAL to 44-7/8, with both atop the active shares list on ORG.
Ebbers said communicating the deal's advantages may take time. ""If that happens we will have a significantly increased stock price from where we are DATE,"" he said.  
ORG, the internet service provider which ORG completed buying DATE, will have the biggest savings.
Now it can provide both local and long distance connections without having to pay fees on outside networks. These fees had previously swallowed up CARDINAL of its revenues.     Most
importantly, the combined company ORG can present a comprehensive business package without having to use the networks or pay the fees of others.
End-to-end service is the promise of the GPE deregulation which became law DATE, but neither ORG nor any regional ORG can yet achieve it either because of regulatory checklists or negotiating tussles.
""We think this gives us at least a DATE headstart over our competitors,"" Ebbers said.
By being ORDINAL, ORG expects to reap wholesale business from the regional ORG and ORG, companies which at a retail level are its competitors.
Ebbers said that any ORG which wanted to offer local telephone service outside its own region could simply resell the ORG network, under the ORG's own brand name. -- GPE  CARDINAL 859 1712",1
"PERSON, the NORP-French ORG operator, said on DATE that its traffic will be cut to CARDINAL of normal levels after a fire swept through one of its main tunnels on TIME, injuring CARDINAL people.
Services have been terminated until the tunnel affected is cleared. A ORG spokesman in GPE said there was no fixed time for when services would resume or how long reduced capacity will operate once the tunnel is opened.
News of the fire and worries about the extent of damage and a resultant safety review hit ORG's shares in both GPE and GPE.
The fire is the latest issue to dog PERSON's performance which has been plagued by negotiations to rejig MONEY (MONEY) in debt.
In GPE, ORG shares fell MONEY to MONEY while in GPE the stock was down PERCENT at MONEY per share. But trading in its debt was barely changed.
Commenting on the initial impact on traffic, a ORG spokesman in GPE said, ""We will operate at CARDINAL of normal capacity and we will give priority to ORG (passenger) trains. But there will still be space for shuttle trains as well.""
He did not say how many ORG or ORG trains would be cancelled as a result.
The ORG's operations were closed after a fire engulfed part of CARDINAL of CARDINAL tunnels, near to PERSON where parties from GPE and GPE had been holding a safety conference.
The ORG spokesman said it did not yet know the full extent of damage to rolling stock or the tunnel itself or how much it could cost, but admitted it was a ""very ferocious fire.""
""It's quite messy down there. There will be damage to the overhead powerline cables, the heat will have buckled the steel rails and the carriages involved would be very badly damaged and may need to be replaced,"" he said.
The cost of a new train is MONEY, but ORG did not think an entire train would need replacing. But ORG faces costs in repairing tunnel and rolling stock damage and may face compensation costs, possibly involving paying for customers to travel by ferry or air.
The company said at this stage that it does not know the cause of the fire. But unconfirmed media reports say the fire began in a truck carrying inflammable polystyrene.
The heavy goods vehicle shuttles are known to have partially open sides -- the safety of which had been questioned by the NORP fire brigade DATE.
PERSON, fire officer and spokesman for ORG which helped put out the tunnel fire, said earlier: ""Our chief officer warned the safety committee (for the tunnel) DATE.""
Fire fighters could raise this objection again as part of the investigation which will go to the NORP-French ORG.
If the current goods carriages are deemed to be hazardous in light of the accident there could be a call for changes, incurring further costs to ORG.
ORG's spokesman refused to comment on whether changes will need to be made to carriages, adding that ""It is a key question.""
The fire comes just before DATE when the tunnel was expected to see a surge in holiday sales. But DATE publicity now consists of media reports of choking people emerging from smoke and ""blow-torch""-like heat.
Asked whether this would dampen customer demand, ORG said ""We hope not. But what's happened has happened and how the fire was handled should renew confidence in our safety procedures,"" said the press officer.
CARDINAL analyst at ORG said there should be little further impact on shares or consumer confidence.
Shares in cross-channel ferry operator P&O were MONEY higher at CARDINAL-1/2p.
($MONEY Pound)","ORG group, the rail division of ORG branson's ORG, said on DATE it planned to spend CARDINAL stg on new rolling stock after announcing it has won the ORG rail franchise.
PERSON, director of ORG, told ORG  ""Our key plan is to buy a new fleet, spending CARDINAL (stg) on new rolling stock, agreed as part of the bid."" The order will be placed DATE, with delivery starting in DATE. He also said the government subsidy in DATE franchise will be MONEY.  
The CARDINAL subsidy will be payable to Virgin in DATE of the new operation and has been reduced from the CARDINAL subsidy level of CARDINAL. Whitehorn said the subsidy will be eroded over DATE term and in DATE ORG will make a CARDINAL milliong payment to the government.
It will refurbish the HST CARDINAL diesel trains and pledges to increase train miles by PERCENT. ""We will grow the service, we will not cut them."" he said.
It plans to introduce a series of initiatives on the ORG franchise, the ORDINAL to be won by Virgin.
ORG had CARDINAL stg in passenger revenues in DATE. It employs CARDINAL staff and covers services linking GPE, GPE and GPE.
-- GPE PRODUCT +44 CARDINAL 7717",1
"ORG minivans have came under fire again from GPE safety regulators, as federal officials said DATE they stepped up CARDINAL probes involving the vehicles' doors, including an inquiry into CARDINAL reported collapses of a QUANTITY rear hatch.
CARDINAL minivans are involved in the investigations, which also include complaints that side sliding doors on DATE models flew open at high speeds.  
ORG (ORG) said it has received reports that CARDINAL people have been injured when the rear lift-gate on DATE Caravan, Voyager and Town & ORG minivans dropped unexpectedly.
The problem occurs when retaining bolts holding CARDINAL cylinders that prop the door open shear, according to ORG. The agency has received a total of CARDINAL complaints. The probe, first launched in DATE and upgraded to an engineering analysis on DATE, covers CARDINAL minivans.  
ORG also upgraded a preliminary investigation into CARDINAL DATE-model Caravan, Voyager and Town & ORG minivans. It has received CARDINAL complaints that either the right or left sliding door can come open while the vehicle is moving.
Owners have reported the doors open anywhere from QUANTITY to fully open at speeds ranging from QUANTITY QUANTITY. No injuries have been reported from the openings. ORG said it was not aware of any incidents involving vehicles built during or after DATE.  
ORG was the ORDINAL automaker to offer a sliding door on the left side of a minivan. The feature has made the GPE No. CARDINAL automaker's minivans the hottest seller in the popular family segment.
A ORG representative could not be reached DATE. But the company has told the safety agency the problem may stem from incorrect dealer latch adjustments, which the company attributed to an inaccurate service manual procedure.  
ORG also said CARDINAL of the complaints involved vehicles that had door repairs made. ORG said it has corrected the manual procedure and has made CARDINAL design changes to various door components.
Still, ORG said it has continued to receive complaints about sliding doors opening, including vehicles with no repair history.
In DATE, ORG agreed to replace rear liftgate latches on MONEY 1984-95 model minivans, but stopped short of recalling the vehicles. Safety officials said the doors could pop open during low-speed crashes.  
Separately, ORG said it upgraded an investigation into CARDINAL DATE and DATE EVENT minivans from ORG have received CARDINAL complaints about brake problems on the minivans, which have led to CARDINAL accidents and CARDINAL injuries.
In addition to the incidents reported to ORG, ORG said it has received CARDINAL warranty claims that could relate to a brake problem resulting in long stopping distances.
Also, ORG said it opened an investigation into ORG PRODUCT sport/utility vehicle. It has received CARDINAL complaints that the right front door opened on DATE models.
Rover is a unit of NORP carmaker ORG.","WebTV ORG on DATE unveiled a new technology it said enables full-screen, television quality video to be delivered from the Internet through conventional telephone lines.
PERSON, co-founder and chief executive of WebTV, said in an interview the new technology will be deployed in upcoming versions of its Internet service, which lets people access the global computer network using their television sets.
The privately held company numbers among its equity investors ORG, ORG, ORG, ORG and ORG.
Perlman said the advance, which was being demonstrated publicly for the ORDINAL time at EVENT in GPE, speeds download times significantly and greatly increases the quality of video compared with existing systems.
WebTV said the new technology, which it has dubbed VideoFlash, has impressed officials from companies that might use it to show television and movie previews, news clips and advertising and animation through the WebTV Internet service.
Publisher ORG, known for producing quality videos and photographs, said the technology was the ORDINAL to provide acceptable quality video over an Internet link.
""VideoFlash is the ORDINAL Internet video technology that will allow ORG to deliver a visual experience on the Internet comparable to the imagery, drama and depth we offer with our television programming,"" said PERSON, vice president of ORG.
VideoFlash can achieve CARDINAL times the video compression rates of existing compression technologies, such as MPEG, which itself can compress video data by a factor of CARDINAL, Perlman said.
Even with the fastest modem connections now available, previous technology could take TIME to download a TIME video clip which could be played on a small window on a computer with generally grainy, shaky quality.
VideoFlash provides much faster downloading and higher-quality display with little perceptible distortion, according to WebTV.
Perlman said the software would be licensed at no charge to content providers to make videos available to WebTV subscribers. He said he expected major suppliers of video content over the Internet to adapt ORG DATE.
The technology is software-based and relies on the WebTV reference design, which takes advantage of WebTV server capabilities as well as its proprietary TV set-top box, and will not be available on other systems, at least initially.
But Perlman said he would expect CARDINAL on-line Internet service provider may license the capabilities by DATE.
WebTV terminal units, introduced in DATE, are currently manufactured and distributed by ORG and ORG",0
"A GPE military honour guard on DATE formally took back the remains of GPE airmen killed in EVENT and sent them on their final journey home.
NORP officials handed over to GPE Ambassador PERSON CARDINAL black cases containing the remains of the PRODUCT bomber's crew, who died when their plane hit a steep mountain slope in GPE's southwestern GPE region DATE.
Under a crisp blue DATE sky, uniformed men and women from ORG, ORG and ORG placed the remains in CARDINAL body-length aluminium cases and covered each with an NORP flag in a ceremony at GPE's FAC.
""This ceremony is dedicated to the NORP servicemen who made contributions and sacrificed their lives to resist fascist aggression,"" said PERSON, director of ORG and ORG of China's ORG.
""The remains of these airmen will now be repatriated to their homeland where they can finally rest in peace,"" PERSON said at the ceremony.
The oblong cases were loaded onto a GPE C-141 Starlifter transport aircraft that was to fly the remains to ORG in GPE for identification.
The remains represented CARDINAL person but it was still unknown how many individuals they belonged to, said PERSON of the ORG (Missing in Action/Prisoner of War) Office under ORG.
NORP and GPE officials and soldiers saluted the dead airmen as a military dirge drifted across the airport tarmac.
GPE officials said the mission to recover the remains was part of an ongoing effort by the GPE and NORP governments to provide a full accounting of NORP soldiers lost in regional conflicts.
""After DATE, we have every reason, between GPE and GPE, to live in peace and work for peace, security and prosperity of mankind,"" PERSON told reporters.
GPE officials ORDINAL learned of the find when NORP President PERSON handed over a video and photographs of the crash site to President PERSON when the CARDINAL met in GPE DATE at FAC forum.
PERSON revealed the find at a time when both GPE and GPE say ties are improving after plunging DATE.
CARDINAL local farmers discovered the wreckage of the aircraft DATE after becoming lost while looking for wild herbs.
The PRODUCT bomber with its CARDINAL-man crew never returned to its base in GPE after completing a raid on NORP ships around GPE on DATE.
A CARDINAL-man forensic team from ORG that clawed its way up the steep, slippery face of GPE mountain on DATE to inspect the crash site found more human remains and parts of the bomber.
GPE officials said they had made contact with all CARDINAL families of the crewmen aboard the plane. They said the site appeared to have been untouched for CARDINAL a century.","GPE said on DATE that NORP-U.S. trade ties have improved but warned that major problems, including GPE's long-delayed entry into ORG (ORG), still needed to be resolved.
It also hinted at possible retaliation against a GPE decision DATE to slap punitive charges against NORP textile quotas -- a move it described as ""totally unacceptable"".
""The NORP-U.S. economic relationship is recovering, but CARDINAL major issues concerning NORP economic links need to be settled,"" the official ORG on DATE quoted Foreign Trade Minister PERSON as saying.
Those CARDINAL issues were GPE's failure to join the ORG and the lack of permanent Most Favoured Nation (MFN) trade status for NORP goods in the GPE market.
A recent series of high-level exchanges between GPE and GPE had helped ease friction over copyright piracy, textile quotas, GPE and human rights, the newspaper quoted PERSON as saying.
""The tension in the NORP-U.S. relationship has been alleviated,"" PERSON said, adding that further progress would hinge on GPE's stance towards GPE's entry into the ORG and its yearly review of ORG.
""The DATE examination of GPE's ORG status is already a shadow over NORP and GPE enterprises and adds a factor of instability,"" PERSON said.
GPE DATE reviews GPE's ORG status, which confers on trading partners the lowest possible tariffs. GPE has urged GPE to make such treatment permanent.
""We hope the Most Favoured Nation issue will be solved once and for all,"" PERSON said.
GPE is CARDINAL of GPE largest trading partners.
GPE companies sold MONEY worth of goods to GPE DATE, while NORP bought MONEY worth NORP products.
PERSON also called on GPE to work harder with GPE to hammer out conditions whereby GPE could secure a coveted seat in the ORG, saying such moves would benefit trade links.
GPE has insisted on entering the world trade body under the easier terms accorded to developing nations. But many developed nations, including GPE, have demanded tougher entry requirements because of the sheer size of GPE's economy.
""Smooth settlement of the CARDINAL issues would prove to be a great impetus to NORP-GPE trade and economic cooperation,"" PERSON said.
He said GPE's total foreign trade would hit MONEY DATE and forecast that figure to balloon to MONEY in DATE and MONEY in DATE. She did not say how much exports or imports were expected to be.
DATE GPE decided to set punitive charges against GPE's DATE textile quotas in a move that GPE says was made without full consultation.
""We would like GPE to change it's decision,"" PERSON said. ""Otherwise, GPE will take measures in response.""",1
"Institutional investor ORG has arranged to meet ORG to discuss its merger with ORG in a sign of growing disquiet over the deal.
National Mutual's funds management arm, a top-20 shareholder in GPE, wants to discuss the bank's decision not to put the merger proposal to a shareholders' vote.  
""We are coming close to having a position on that and we are meeting shortly with PERSON and we will make some decision at the end of the meeting,"" said ORG domestic equity investments manager, PERSON.
He declined to comment further but market sources said on DATE that ORG and CARDINAL other institution were lobbying PERSON to reverse it decision not to seek shareholder approval for the MONEY merger.
""CARDINAL institutions ... are a little bit up in arms about it and would like to see a meeting,"" a broker said.  
ORG, itself seen as a predator in GPE's rapidly consolidating banking sector, has already said it is disappointed at FAC decision, which has been approved by ORG.
""We are disappointed there would not be a shareholders' meeting and we were concerned about the level of information out there about a merger proposal,"" NAB spokesman PERSON said.
""Given there hasn't been any details of the merger released as yet, we thought it would be important to have a meeting to give shareholders an opportunity to discuss it and find out more,"" GPE said.  
He declined to comment when asked about a newspaper comment that NAB might have few legal options to oppose the bid.
""We simply wanted to make known that we were disappointed that there wouldn't be a meeting,"" he said.
PERSON scrip and cash offer valued each ORG share at A$MONEY -- or CARDINAL times net asset backing.
The NORP Shareholders' Association, representing small shareholders, said it had met PERSON DATE over the question of a shareholders' meeting.
""We are not at all happy,"" association executive officer PERSON told ORG.  
""The principle is that it's a very significant deal for the bank and we believe that shareholders should be involved in approving it,"" he added.
He declined to comment on his talks with PERSON but said: ""There will be an exchange of information between ourselves and the bank."" PERSON declined to elaborate.
Asked if an extraordinary general meeting could be called to pressure PERSON into reversing its decision, he said: ""I guess that's a possibility.""
-- ORG CARDINAL-3 9286-1421","NORP industrial conglomerate ORG is set to announce a steep drop in ORDINAL CARDINAL earnings on DATE, due to plant problems and tough trading conditions, share analysts said on DATE.
The analysts are forecasting the group to report a net profit before abnormals of MONEY for DATE, a PERCENT fall on DATE.
The full range of forecasts are thought to be MONEY before abnormals, CARDINAL of the analysts contacted by ORG said.  
Pacific Dunlop reported pre-abnormal net earnings of MONEY for DATE (DATE), and went on to post a PERCENT fall in pre-abnormal profit for DATE.
Brokerages have been steadily winding back their CARDINAL profit forecasts for ORG since the company ORDINAL warned of a weak start to DATE, the analysts said.
ORG warned DATE it expected ORDINAL half profit to be down on DATE, but predicted an improved DATE result despite extreme competition in key markets.  
The company -- which has businesses spanning tyres, car parts, batteries, clothing, industrial cables and latex goods -- reported pre-abnormal net earnings of MONEY for CARDINAL.
""The market concern at the moment is that DATE) result might come out worse than what people were expecting or hoping,"" a GPE-based analyst told ORG.
""There's not an expectation of surprise on the upside.""
ORG batteries division is the biggest concern, due largely to commissioning problems at its GPE lead smelter in GPE, the analysts said.  
ORG said in DATE the smelter was operating at well below capacity. It was shut down earlier for redesign and modification work.
""The smelter is going to affect them substantially,"" another GPE-based analyst said. The batteries division is expected to earn CARDINAL what it did in DATE of CARDINAL.
Tough trading conditions are likely to weigh on most of the other divisions, especially the tyres business.
""Obviously the consumer economy is difficult. The building environment is difficult -- that will affect cables -- so it will be pretty tough across the board,"" the analyst said.  
""They may get there. They may be a little bit short, but it will be tough,"" a GPE-based analyst said.
ORG rubber-glove maker, ORG, is confidently expected to report an improved performance, but the local dollar could steal some of its glory.
Ansell earns much of its revenue in LOC and GPE, CARDINAL analyst said. ""The currency has gone against that division a little bit,"" he said.
""The NORP dollar for DATE was a little bit higher. That's going to make it tough to report an increase in $A terms.""
Analysts were not confident ORG could fulfill its forecast for a higher DATE profit in CARDINAL.  
-- GPE bureau CARDINAL",1
"ORG said DATE it expected strong DATE sales results to cap off DATE for the automaker, with total DATE car and truck deliveries exceeding CARDINAL units.
ORG's DATE sales report, to be released DATE, is expected to be one of the few bright spots for DATE, a month in which analysts predict industry volume will fall PERCENT from strong DATE levels.
Despite an expected drop in ORG DATE sales by PERCENT from DATE levels, analysts say automakers sold enough cars and trucks during DATE to enable DATE totals to match GPE industry sales projections of CARDINAL light vehicles.
ORG Vice Chairman PERSON told reporters at ORG that he expected the automaker's total DATE vehicle sales to be ""several percentage points"" ahead of DATE sales of CARDINAL cars and trucks, which was a record for DATE.
For DATE, ORG's sales of CARDINAL units exceeded their DATE record of CARDINAL cars and trucks.
Light truck sales, which have been accounting for PERCENT of ORG's total, are projected to rise PERCENT, offsetting an expected PERCENT slide in passenger car sales, said ORG analyst PERSON.
GPE said ORG's sales of pickup trucks, sport utility vehicles and minivans -- the light truck category -- will be down significantly, in large part because the automaker was up against a tough comparison from DATE.
Car sales also will plunge by PERCENT, estimates PERSON, of ORG. He attributes the decline largely to the continued aftershocks of ORG's labour strife DATE, which cost the automaker CARDINAL units of mostly car production.
""They're still being hurt by the strikes,"" he said. ""I think that's still a legitimate reason for DATE here in DATE.""
ORG is scheduled to report its sales on DATE.
ORG, scheduled to release its results DATE, will enjoy CARDINAL of its best DATE comparisons since DATE, said ORG, with sales rising PERCENT against a somewhat weak performance in DATE.
PERSON, ORG group vice president of sales and marketing, said at ORG that he expected DATE car sales to be flat with the DATE level, but truck sales were ""fantastic"" and should be up sharply.
DATE, ORG added another $MONEY to the $MONEY rebate it was already offering on the DATE PRODUCT, indicating its determination to hang on the title of the best-selling car in GPE. Taurus sales through DATE were CARDINAL units over the rival ORG PRODUCT.
""If PRODUCT sales spurt up, cars might be a little bit better than that,"" said ORG.
ORG's light truck sales are seen rising a sharp PERCENT, ORG said, thanks to the strength of its pickup trucks and popular ORG full-size sport utility vehicle.
Imports and transplants continued to take market share from the Big Three in DATE, GPE said, climbing to a combined share of PERCENT, up from PERCENT in DATE.
""The strong dollar and the weak yen are resulting in aggressive pricing by the NORP makers, particuarly in intermediate and small passenger cars,"" he said.
For DATE, the light vehicle DATE adjusted DATE sales rate is expected to be in the CARDINAL range, analysts said, a precipitous drop from CARDINAL DATE, DATE.
However, ORG said ORG factors used to compute the rate penalise the total by CARDINAL units, meaning the real rate is stronger than it would appear.
Most analysts expect the industry to finish DATE at CARDINAL units.
""It should be CARDINAL,"" said ORG. ""That's almost certain unless something very strange happens in DATE.""
That total would bring the average for DATE to an unusually stable MONEY. In DATE, total light vehicle sales were CARDINAL, down from CARDINAL for all of DATE.","ORG minivans have came under fire again from safety regulators, who said DATE they stepped up probes into CARDINAL problems, including reports that a QUANTITY rear hatch door can suddenly close without warning.
CARDINAL minivans are involved in the investigations, which were also sparked by reports that side sliding doors on DATE models flew open at high speeds.
ORG (ORG) said it has received reports that CARDINAL people have been injured when the rear hatch door on DATE model PERSON, Voyager and Town & ORG minivans dropped unexpectedly.
The problem occurs when bolts holding cylinders that prop the door open shear, according to the federal safety agency. The agency has received a total of CARDINAL complaints. The probe, first launched in DATE and upgraded on DATE, covers CARDINAL minivans.
ORG also upgraded a preliminary investigation into CARDINAL DATE-model Caravan, Voyager and Town & ORG minivans. It has received CARDINAL complaints that the right or left sliding door can come open while the vehicle is moving.
Owners have reported doors opening QUANTITY or flying wide open at speeds from QUANTITY. No injuries have been reported. ORG said it is not aware of any incidents involving vehicles built during or after DATE.
ORG was the ORDINAL automaker to offer a sliding door on the left side of a minivan. The feature has made the No. CARDINAL automaker's minivans the hottest seller in a popular segment.
ORG agreed in DATE, under pressure from regulators, to replace the latches on the rear hatch doors on CARDINAL minivans but stopped short of recalling the vehicles, from the DATE. Safety officials said the doors could pop open during low-speed crashes.
A ORG official could not be reached to comment.
But the company has told the safety agency the sliding door problem may stem from incorrect latch adjustments by dealers, which the company attributed to problems with the service manual.
ORG also said CARDINAL of the complaints about side doors opening involved vehicles that had had door repairs made. ORG said it has corrected the manual procedure and has made CARDINAL design changes to door components.
But ORG said it has continued to receive complaints about the doors opening on vehicles with no repair history.
Separately, ORG said it upgraded an investigation into CARDINAL DATE and DATE EVENT minivans from ORG have received CARDINAL complaints about brake problems, which have led to CARDINAL accidents and CARDINAL injuries.
In addition to the incidents reported to ORG, ORG said it has received CARDINAL warranty claims that could relate to a brake problem causing long stopping distances.
Also, ORG said it opened an investigation into ORG PRODUCT sport/utility vehicle. It has received CARDINAL complaints that the right front door opened on DATE models. Rover is a unit of NORP carmaker ORG.
ORG stock fell MONEY to $MONEY on ORG exchange in TIME trading.",1
"Tobacco companies are countersuing GPE, saying the state government should be held liable for manufacturing cigarettes in its prisons if the state wins a MONEY lawsuit against cigarette makers.
Tobacco industry lawyers filed the suit on DATE, a ORG Cos spokeswoman said and comes DATE after a GPE judge blocked the industry from using GPE's history of cigarette-making in a trial scheduled to begin in DATE.  
Tobacco legal papers filed in GPE said ORG for DATE made high-nicotine, high-tar cigarettes and other tobacco products and sold or distributed them to inmates.
State officials believed the cigarettes were ""particularly unhealthful ""but still distributed them to inmates.""
""The state believed that its cigarettes were cancer-causing and addictive,"" the court papers said.
The tobacco countersuit asked that GPE pay some damages along with the tobacco industry if it should win its lawsuit to be tried in DATE.  
GPE, the countersuit said, should be liable ""for the portion of damages that is attributable to its own conduct, or for its presumptive share of the market.""
State officials have said the tobacco used in the cigarettes was bought from CARDINAL of the defendants, ORG, and it no longer makes cigarettes in its prisons.
Spearheaded by Gov. PERSON, GPE is suing cigarette makers for MONEY, or more in costs incurred from treating smokers through the state's ORG healthcare program.  
The state has also won the right to press for punitive damages under a state racketeering law if it can prove tobacco companies such as ORG and ORGamp; PERSON unit of ORG of GPE conspired to hide the health risks of tobacco from customers.
The governor is also pressing to raise cigarette taxes and backed restrictions made public DATE on tobacco-related advertising on GPE's state roads.
CARDINAL state governments and other local governments are suing tobacco companies to recover monies spent on treating tobacco-related illnesses.
""It's ironic,"" said April ORG, spokeswoman for the governor. ""This is a backdoor admission by the industry that nicotine is addictive, something it denies.""
She said the state expects the countersuit to be dismissed.
DATE, the tobacco companies were rebuffed by the trial judge in the case when they sought to use the state's cigarette-making record as a partial defense in the approaching trial.
-- GPE newsroom, CARDINAL-374-5013.","ORG chairman PERSON introduced a bill on DATE aimed at remaking the regulatory landscape for banking and other financial services in GPE.
A similiar bill GPE introduced in the previous ORG foundered DATE amid opposition from the insurance industry and ORG NORP.  
Analysts have said this DATE's bill might have a better chance of passage, but that was before GPE decided to oppose PERSON reelection as Speaker of the ORG, a move that could turn the leadership against his bill.
""This bill provides expanded powers for the banking, securities and insurance industries,"" PERSON said in a statement. ""The ultimate beneficiaries of this legislation, however, are consumers.""  
""Not only will there be more products available to banking customers who are looking to maximize their savings, but efficiencies should lower industry costs and therefore costs to consumers,"" ORG said.
If passed, the bill would break down the legal barriers enacted after EVENT between banks, securities firms and insurance companies.
Bank regulators have already begun eroding the barriers for banks, putting pressure on ORG to level the playing field, analysts said.  
ORG voted DATE to allow bank subsidiaries to garner a greater share of revenue from underwriting activity. And DATE, WORK_OF_ART office said it would allow banks to enter an array of non-bank markets.
Leach said his bill would repeal LAW and amend LAW to allow for the merger of commercial and investment banks.  
ORG subsidiaries would be allowed to engage directly in securities dealing and other activities considered ""part of and incidental to"" banking. Affiliates of bank holding companies, would be allowed to engage in insurance activities as principal, agent or broker.
The bill would also abolish the federal charter for thrifts while grandfathering existing thrift holding companies. National thrifts would have the option of transferring to a national or state bank charter or a state savings and loan charter.
The GPE Republican's bill would continue to prohibit commercial companies outside the finance sector from owning banks.
The bill was also sponsored by CARDINAL other NORP members of ORG: Rep Marge Roukema of GPE, PERSON of GPE and PERSON of GPE.
The full committee will hold hearings on the bill and any related legislation in DATE, ORG said.
The text of GPE's bill is available under the ""DATE update"" section of ORG World Wide Web site, http://www.house.gov/banking/.
((CARDINAL-898-8312))",0
"GPE stocks soared to new heights on DATE, powered by a rally in bank shares as foreign investors stampeded into GPE's financial markets, lured by falling interest rates and a recovering NORP economy.
Shares in GPE's big CARDINAL banks hit DATE highs on ORG, propelling the country's biggest stock market to its ORDINAL record close of DATE.
The NORP dollar has also surged DATE, hitting its strongest level since DATE.
Declining interest rates, low inflation and falling budget deficits have combined to make GPE the flavor of DATE, economists said.
""Overall, foreign investors have just become enamored with GPE as a place for investment,"" PERSON, an economist with ORG, said in a telephone interview.
ORG jumped CARDINAL points to close around 5749, fueled by brisk action in interest-rate sensitive issues such as banks and utilities.
The key CARDINAL Index has gained PERCENT DATE, compared to PERCENT for the Dow Jones Average and PERCENT for the ORGamp; Poors CARDINAL.
ORG is expected to ease interest rates again DATE. The central bank has cut rates CARDINAL times since DATE in a bid to revive a sluggish economy.
ORG Governor PERSON said on DATE that GPE's improving economy gives the central bank more latitude to set NORP rates independent of GPE rates.
He added GPE is now in a better position to withstand a hike in GPE rates than it has been in DATE.
""The economic outlook is favorable. We will soon see signs of the payoff for the difficult restructuring decisions taken in both the private and public sectors,"" Thiessen said.
After DATE of belt tightening, NORP governments have either balanced their budgets or are on track to wipe out huge deficits.
GPE's PERCENT inflation rate is CARDINAL of the lowest in the world and CARDINAL the GPE rate.
Several NORP banks cut residential mortgage rates on DATE to levels not seen in DATE.
Gregory said he expected GPE to continue to outperform GPE on the rate front and that offshore investors recognized that. ""I think investors are coming to terms with the fact that NORP interest rates -- because of low inflation and improving currency prospects -- should be below GPE rates,"" he said.
""Many investors are jumping on that and the NORP dollar is undervalued. It's cheap,"" ORG said.
The NORP currency closed MONEY (US$MONEY) on DATE after trading MONEY earlier in the session. The dollar broke through C$MONEY on DATE, its strongest level since DATE.
In stocks, the country's big CARDINAL banks have been big beneficiaries of favorable interest rates and the overseas scramble to buy NORP stocks.
The ORG's financial services group jumped PERCENT on DATE after soaring PERCENT on DATE. The sector has gained CARDINAL points since DATE.
Declining interest rates make bank lending more profitable and bank dividends more attractive for investors.
Soaring bank profits have also lured investors. The major banks report their DATE results in DATE and are on track for DATE of record profits.
Recent listings on ORG have given NORP banks a higher profile in GPE where they are considered cheap compared to GPE bank stocks.
GPE-based ORG issued a bullish recommendation on CARDINAL NORP banks on DATE and predicted a strong fourth quarter for the entire group.","ORG and ORG, GPE's CARDINAL largest banks, wrapped up the industry's DATE profit parade on DATE with sharply higher earnings.
ORG, the country's biggest bank, said income climbed PERCENT to MONEY (MONEY) in DATE.
CIBC, GPE's ORDINAL largest bank, reported a PERCENT jump in income to MONEY (MONEY).
CIBC's earnings per share of C$MONEY ($MONEY) beat analysts' forecasts of MONEY ($MONEY) a share. ORG reported a C$MONEY ($MONEY) per share profit, in line with analysts' expectations.
The results capped a strong quarter for the CARDINAL major banks and put them on track for DATE of record DATE profits.
The group rang up a combined profit of MONEY (MONEY) in DATE.
Soaring bank profits have sparked hostility from NORP consumers who complain about high service fees and tight lending policies.
In a bid to soften that criticism, the banks have taken to highlighting their tax bills and job creation efforts.
For example, ORG said it paid out MONEY ($MONEY) in taxes for every dollar earned so far DATE.
The group's public relations efforts may get easier DATE when analysts predict earnings growth will start to tail off.
In DATE, ORG and ORG gained from stronger loan volumes, higher brokerage and fee revenues and improving credit quality.
""Our solid performance DATE reflects the continued strong contribution from our core businesses,"" CIBC chairman and chief executive officer PERSON said in a statement.
The bank's return on equity, a key measure of profitability, was PERCENT in DATE, up from CARDINAL in DATE.
Flood said ORG's personal and commercial bank continued its strong performance DATE.
Recent strategic moves at ORG's brokerage unit, ORG, are also paying off wth new financial products and high-yield debt adding to the bank's bottom line.
Stronger revenues from underwriting, capital markets and foreign exchange pushed non-interest income up PERCENT to MONEY (MONEY) in DATE.
Net interest income was up slightly to MONEY (MONEY) in DATE.
At ORG, higher revenues from capital market, mutual fund and trading businesses pushed other income up PERCENT to MONEY (MONEY).
Net interest income climbed PERCENT to MONEY (MONEY), due mostly to higher asset volumes, lower impaired loans and proceeds from the sale of bonds.
""DATE was marked by higher growth in residential mortgages and other loans, continued improvement in credit quality and stronger performances from a number of fee-based businesses,"" said ORG chairman PERSON.
ORG return on equity was PERCENT compared to PERCENT in DATE.
Despite the strong performance, shares in both banks finished weaker on ORG.
ORG fell C$MONEY ($MONEY) to C$MONEY ($MONEY), while ORG lost C$MONEY ($MONEY) to close at C$MONEY ($MONEY).",1
"ORG -- the upstart in the direct broadcast satellite television business -- gave the nascent industry a major jolt DATE with a sharp price cut.
The jolt reverberated DATE when ORG, the GPE unit of GPE's ORG, which dominates the satellite TV dish market, matched ORG's new price at $MONEY for a satellite dish.
ORG executives said the new price will surely shake up the industry and fuel sales for what is said to be the fastest growing consumer electronics product ever -- one that even now is taking market share from the cable industry.
""It will completely change the nature of the business,"" said PERSON, an executive vice president at ORG.
ORG move cut the price of the ORG brand digital satellite system by MONEY a unit. Combined with a $MONEY cash back offer by programming providers DirecTV, a unit of ORG, and ORG, it cut the total price to $MONEY for consumers who pre-pay for DATE of programming.
Programming costs from $MONEY a month for CARDINAL channels on DirecTV to $MONEY a month for all CARDINAL channels on DirecTV.
The lower price -- while welcome for consumers -- will make it harder for new entrants to break into the market and make a profit.
Other consumer electronics giants, ORG, ORG, ORG and ORG have announced plans to introduce new ORG systems DATE.
Thomson will make the dishes for ORG and ORG.
""We know the telcos and the cable companies are getting more involved,"" PERSON said. ""We are going to capitalise on our strengths now.""
He added that the $MONEY price will make the ""awareness base explode.""
Thomson has PERCENT of the total digital satellite dish market, which amounted to CARDINAL units worldwide at DATE, according to ORG.
""It's been a real winner for them,"" said PERSON, an analyst at the market research firm in GPE, GPE ""Plus it has launched them into the international marketplace.""
Schaeffler said satellite television is gaining markets outside GPE where there is no cable service because it does not require installing massive cable systems.
""Most of the rest of the world is not very cable wired, so there is a clear opportunity for direct broadcast satellite,"" PERSON said. ORG is also becoming big in this country while vaunted digital cable systems undergo trials.
New competitors see an opportunity in digital satellites -- a technology that is already here and working. ORG, aligned with PERSON ORG, already has a valuable GPE satellite slot.
The move to cut prices to gain market share is changing the industry, which ORG said is moving more toward a cellular telephone model, where the hardware is the lowest cost -- sometimes practically nothing -- and revenues come from services and programming.
""They have to fight within the industry and competitors from outside the industry,"" PERSON said. ""They are doing the rebates because of the market share. It's a combination of PRODUCT pushing everyone to a lower price point nationally and the effort to maintain and acquire future markets.""
Asked how low prices of satellite dishes could go, PERSON joked that he had never seen prices in consumer electronics products go up. Other analysts also expect prices to keep falling.
""Maybe PERSON will take it to CARDINAL, but I don't think we will,"" PERSON said of ORG Chairman PERSON.
A spokeswoman said ORG, Colo.-based PRODUCT, which launched its satellite network in DATE, already has CARDINAL subscribers for its programming, which has CARDINAL TV channels and CARDINAL channels of music, compared with CARDINAL channels offered by DirecTV.
The launch DATE of a ORDINAL satellite will increase its offerings to up to CARDINAL channels, ORG said.","ORG unveiled several new partnerships as part of an all-encompassing strategy unveiled at a session on electronic commerce, but said it will make money from these ventures the ""old fashioned"" way - through hardware, software, and services.
ORG announced a wide array of partnerships, ranging from retailers to petroleum companies to insurance companies to a utility, all developing applications for conducting business over corporate computer networks and the Internet.  
""We feel very, very good about the Internet as a business and about where we are going,"" said PERSON, the general manager of ORG's Internet division, at a press conference. The Internet unit was formed DATE and has become one of the key focal points at ORG.
ORG is helping customers develop a wide range of electronic commerce applications, including an electronic trading system, an Internet retailing outlet, and a service for buying electrical power over networks. Revenues, however, will come from the usual sources of hardware, software and services as it fuels demand for its products and services.  
""We will continue to make money the 'old-fashioned' way, by selling a lot more systems, software, services and solutions,"" PERSON said. ""By leveraging our core businesses, we can sell more of what we are good at.""
He was not more specific about what kind of financial opportunity corporate networks and the Internet represent for ORG.
But ORG expects the worldwide information technology industry to grow to MONEY, from MONEY, in DATE, with PERCENT of that growth driven by network computing, he said.  
CARDINAL novel partnership ORG announced DATE was a project with ORG for the electric utility industry.
ORG and ORG announced a service to let electric utilities use computer networks, including the Internet, to sell excess power transmission capacity. ORG and ORG is the ORDINAL customer.
ORG also announced CARDINAL additional new retailers who are joining its Internet shopping mall, called FAC, such as ORG's and LOC, Avante Jewelry and others. Consumers can purchase goods quickly and securely via the FAC service on the World Wide Web.  
ORG also announced ORG, a network-based service for the petroleum industry, with digital databases, maps, surveys, well logs, seismic data and other geographical and geological data, for all segments of the industry.
In another industry-specific application, ORG and partner ORG demonstrated its electronic trading system, called e.schwab, which lets customers request quotes, check account balances and execute trades on their Internet Web site, which runs on ORG's SP2 supercomputers.
ORG also touted ORG's PERSON software, which is the next version of ORG designed using Internet technology.  
ORG said that PERSON is one of the ""jewels in its crown,"" that will be targeting the Web server software market, which ORG predicts will be MONEY by DATE.
PERSON, the president of ORG, made several jabs at both ORG and ORG and their initial emphasis on the browser wars, but said the battle is moving to groupware.
Papows quoted PERSON's co-founder PERSON as saying that in DATE the big war will be over groupware and e-mail. ""We think PERSON is right,"" Papows said, adding that whether they can take those markets by storm is the question.",1
"GPE's real estate market is showing signs of recovery thanks to growing numbers of individual home-buyers and policy support from the city government, analysts and officials said on DATE.
Increasing numbers of people are buying their own homes in the city as a result of lower interest rates, a state-run house-buying fund and the inability of many state firms to provide homes for their employees, they said.
People from other parts of GPE are also showing a growing interest in buying apartments in GPE, partly due to new rules that allow home purchasers from elsewhere to obtain residency permits in the city.
In DATE, private citizens bought QUANTITY of commercial housing in GPE, or PERCENT of the city's housing space sold in the period, the city's ORG said on DATE.
""DATE, all our buyers were enterprises,"" said a salesman from a GPE real estate company. ""But DATE CARDINAL the houses we sold were bought by individuals.""
A key element in this growth is a public housing loan fund set up by the city government in DATE, into which most employers and employees each pay PERCENT of an employee's salary.
""More people have bought and plan to buy houses with the help of these funds due to lower interest rates on loans after CARDINAL cuts in bank interest rates DATE,"" said an official of ORG, which administers the fund.
""In DATE, we lent MONEY (MONEY) from the fund and expect to lend CARDINAL for DATE,"" he said.
""DATE, individuals borrowed a total of MONEY from the fund and in DATE the figure reached MONEY,"" he added.
To encourage more individuals to buy, the city government in DATE cut the tax on house purchases by CARDINAL and in DATE raised the rents on state-owned apartments by PERCENT, a ORG official said.
""These measures, including allowing ORG people the right to obtain a residence permit by buying property, show the determination of the local government to help real estate become a key industry in the city,"" she said.
In DATE, GPE started giving residency permits to out-of-city people if they bought an apartment worth MONEY in the GPE New Area, and have since extended the offer to all districts of GPE.
GPE is on the east side of LOC that runs through the city. PERSON, the main area of the city, is on the west side.
GPE has so far sold CARDINAL apartments worth MONEY to people from outside of the city, an official of ORG said.
""Sales of property in GPE, despite higher prices, are hotter than in GPE which is still seen as less convenient in terms of traffic,"" said an official of ORG said.
""Buyers from outside the city, mainly successful business people and enterprises, regard GPE as the best place in GPE to do business,"" he said.
GPE's economy continues to power ahead of the rest of GPE, with PERCENT growth in DATE, official figures show.
GPE's GDP growth DATE has been officially forecast at around PERCENT, compared to PERCENT DATE.
GPE real estate prices have changed little in DATE despite the increased sales due to a parallel growth in supply.
The average price of an apartment in GPE is now MONEY ($MONEY) per square metre and office space MONEY ($MONEY) per square metre, the ORG newspaper said.
""No one doubts that prices of property in the city will rise in DATE,"" an analyst said.
(MONEY)","Trading on most of GPE's futures markets, under pressure from GPE to curb speculation, has now dropped so far that hedging has become virtually impossible, traders and analysts said on DATE.
A trader with a futures firm in GPE said only the metals contracts market, ORG, still had enough liquidity and flexibility to allow companies to hedge risk.
GPE has recently issued CARDINAL key documents encouraging the securities markets but warning the futures markets of more clean-ups and restructuring to come.
Rumours have swirled around the futures markets in DATE that GPE plans to merge or close many of the CARDINAL futures exchanges in the country, possibly concentrating all futures trading into CARDINAL exchanges.
""From what I hear about the feedback from ORG (CSRC), there is no such plan,"" said PERSON, deputy manager of ORG (SCOE).
""There is no change to the basic policy of developing these markets,"" he added.
But ORG said liquidity on the exchange, particularly in rice, had fallen off as a result of the GPE statements on the futures markets, making it difficult for companies to use the exchange for hedging.
""The scale of trading at this point is a bit small for hedging,"" he said.
The irony of the crackdown on the futures markets is that it has removed the basis for hedging and left only speculators in the market, CARDINAL analyst said.
A ORDINAL NORP futures company trader said the trading volume of most commodity futures contracts on NORP exchanges was now so small that there was no opportunity for hedging operations to take place.
""The only people trading the contracts for most of these commodities are speculators,"" the trader said.
A spokesman for the CSRC in GPE on DATE told ORG that the authorities still wanted the futures markets to develop despite the recent documents on the futures markets stressing current problems.
""This does not mean that futures market should cease to develop, development is a constant theme for GPE's futures market,"" he said.
But the spokesman declined to comment on the rumours of impending closures and mergers of futures exchanges.
""I cannot say anything on measures to deal with the markets in the future, I don't know whether some futures exchanges would be closed,"" he added.
CARDINAL trader said that while the authorities would probably not formally close any of the exchanges, they could take other measures to in effect slowly strangle them such as raising the margin requirements on various contracts.
SCOE's Xie said the authorities still viewed the futures exchanges, set up in DATE, as an experiment, but he felt that in the end they would prove their value.
""There should be a bright future for futures, particularly for contracts for agricultural products. That's how the futures business began in other parts of the world, and GPE is a big agricultural producer,"" he said.
But for now, trading volumes are down significantly on the ORG compared to DATE.
Up to DATE, CARDINAL lots on all contracts changed hands on the exchange DATE compared to DATE total of CARDINAL lots DATE, he said. CARDINAL lot is QUANTITY of commodities.",1
"Lauda Air is enjoying ""huge passenger growth"" on the GPE to GPE route but cargo is disappointing, the airline's GPE general manager PERSON told ORG.
While there's been a PERCENT increase in the number of passengers along with a PERCENT growth in revenue over DATE, cargo revenue is CARDINAL three per cent below DATE level, he said. PERSON's ORG PRODUCT twice DATE flight from GPE to GPE via GPE averages QUANTITY of belly cargo with watches a particularly common commodity, PERSON said.
""ORG is staying at more or less the same level as it was DATE. A small price war and overcapacity with ad hoc charters operating into GPE are major obstacles. I'm not optimistic about getting cargo rates back to the good old days,"" Yu said.
He said the cargo situation is not mirrored on the passenger side where PERSON expects another double digit rise in passenger numbers DATE. The current number of passengers flying between GPE and GPE is CARDINAL, PERSON says.
The ORG carrier also said it's being constricted in adding more frequencies to GPE from its GPE hub because of slot restrictions at PERSON airport but hopes to eventually benefit when the territory's new, round the clock airport opens in DATE time. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017.","ORG kicks off the GPE bank reporting seson on DATE and, despite trading at big premiums to the sector, is still favoured by analysts because of what they see as a well-positioned business mix.
ORG is expected to weigh in with over 2.4 billion stg in pre-tax profit and dividend per share of CARDINAL, accompanied by the highest return on equity in the sector at PERCENT. In DATE, ORG PRODUCT made CARDINAL stg.
The bank's new chief executive PERSON will give voice to his plans for the group as he takes over from PERSON.  
But with NORP still at the bank as chairman, analysts are not concerned there will be a radical change of strategy.
PERSON, banking analyst at ORG, says he expects ORG TSB to make a pretax profit of MONEY stg and pay a dividend of CARDINAL per share. ""The key thing is to see how the cost-cutting is coming through,"" PERSON said.
He estimates that savings from the DATE merger between ORG and ORG will only have been MONEY but these will rise to CARDINAL stg in DATE and the bank will be saving a further CARDINAL DATE from its buyout of the minority of ORG.  
These transactions have taken ORG tier CARDINAL capital ratio down to an expected PERCENT or just over and analysts say there will be little scope for the group to return capital until DATE.
Even then, the bank seems to favour returning value through more generous dividends than through share repurchases, said PERSON, banking analyst at ORG.
ORG expects a pretax profit of CARDINAL stg and a dividend payment of CARDINAL per share, and he sees strong earnings growth at least for DATE.  
Strategically in its core GPE retail financial services business, ORG wants to expand its life assurance presence, analysts said, and may do this by acquisition.
The current bidding battle for mutually-owned ORG will give a pointer as to the price that ORG might have to pay for such an expansion.
Increasing its life assurance business would mean that ORG TSB continues to follow the strategy of building up the low-risk element of its earnings and an income stream that is both stable and high quality.  
In the figures for DATE, analysts expect to see evidence of continued growth in consumer lending and a bigger market share in mortgages, although the group is thought to have been less aggressive on the latter front in DATE. -- GPE PRODUCT +44 CARDINAL 8864.",0
"GPE is set to challenge the tobacco industry on DATE using a tough anti-racketeering law that could mean bigger damages against cigarette makers if the state prevails.
The new claim under the state's LAW, tacked onto GPE's existing lawsuit that seeks MONEY for treating smokers' illnesses, could mean more losses for the tobacco makers, tobacco-litigation expert PERSON of ORG said.
""GPE has a good law (for winning damage claims) but it only goes back to DATE. Using LAW may give the state a deeper reach,"" ORG said.
The state's LAW law, similar to a federal statute and laws on the books in other states, would allow GPE officials to seek damages from before DATE, when a state law was passed that opened the way for GPE to try to recoup money spent on treating poor smokers.
GPE is CARDINAL of CARDINAL states and several big cities, including GPE, GPE and GPE, that have sued tobacco companies to recoup costs of health care for poor smokers.
GPE and now GPE are among a handful of states that are also using LAW laws to bolster their claims against ORG. Inc., the world's biggest cigarette maker, and other tobacco companies. GPE filed the added claims under LAW laws on Nov 4.
ORG said use of LAW could add to the industry's potential financial losses by allowing GPE to make claims to recoup costs of treating smokers from DATE.
GPE Attorney General PERSON is set to appear on DATE in county court in GPE, a spokesman said. He and attorneys for tobacco companies will argue over the industry's request that the LAW claim be dismissed.
It was unclear when a ruling would be made, a court official said.
Presiding Palm Beach County Circuit Judge PERSON recently dismissed CARDINAL counts of the state's CARDINAL-count lawsuit that claims the industry was liable for state-paid hospital costs from lung cancer and other smoking-related diseases. The full case is expected to come to trial DATE.
A GPE, GPE, jury DATE handed the tobacco industry its biggest loss in a court case yet when it awarded $MONEY to a lung cancer sufferer who had smoked for DATE. The defendant was the Brown & PERSON unit of GPE's ORG.
In GPE, anti-smoking groups said divesting tobacco investments was being actively considered by a growing number of institutional investors concerned by both the ethics and the financial outlook for the industry.","The GPE judge in a class-action suit against tobacco groups DATE allowed CARDINAL of the pioneering case's lead smokers to take a back seat in the upcoming trial after he complained of intimidation.
PERSON, the lawyer pursuing the class-action suit on behalf of all ill and addicted smokers in GPE, said in GPE that PERSON had been one of the original CARDINAL smokers in the suit filed DATE but did not want to take a prominent role as a witness in a trial scheduled for DATE.
""He feels he has been greatly embarrassed and humiliated by investigators going out and asking neighbors and relatives and people he hasn't seen in DATE about him,"" PERSON said.
The lawyer gave no details in court, but said at a news conference DATE that private investigators working for tobacco companies routinely checked the backgrounds of people opposing them in court and potential trial jurors.
Rosenblatt asked ORG Judge PERSON to allow another smoker, throat-cancer victim PERSON of GPE, GPE, to be substituted for ORG.
Amodeo said DATE he began smoking at DATE, DATE before the health dangers of smoking were known, and that he has tried to stop smoking repeatedly. He still smokes and takes liquid nourishment through a feeding tube, since he can neither eat nor drink.
Rosenblatt said PERSON was not withdrawing from the suit, an option any ill smoker in GPE can choose, but would not act as a representive of the CARDINAL potential claimants PERSON has estimated his suit covers.
Reeves would share in money awards, if any, secured through the trial. The case appears likely to be the ORDINAL to come to trial of CARDINAL or more class-action suits filed by smokers against tobacco companies.
Rosenblatt claims that tobacco companies such as ORG, ORG, ORG and ORGamp; PERSON unit of ORG conspired for DATE to hide medical evidence damaging to their businesses and mislead NORP about the dangers of smoking.
A lawyer for ORG. Inc. said that allowing the switch DATE before trial was unfair.
The lawyer, PERSON, said he had no knowledge of ORG' complaints. ""I don't know anything about him being allegedly harassed,"" ORG said.",1
"ORG said DATE it is considering several options for the future, including splitting into CARDINAL separate, publicly traded corporations -- CARDINAL a life sciences company and CARDINAL a chemical business.
Other options being weighed by the GPE-based company are to sell or merge its chemical businesses with other firms or to keep the chemical operations and restructure them.
""In DATE, the strategies and needs of the chemical and life sciences businesses have become quite different,"" Chairman PERSON said in a statement.
Wall Street applauded the possible sale or spin-off of the chemical business, which had been expected, sending ORG's stock to a new DATE high of $MONEY DATE. The shares later traded at $MONEY, up $MONEY.
Analysts said ORG's life science businesses -- including agricultural chemicals, biotechnology, food additives and pharmaceuticals -- likely would have a higher valuation as a separate company than if ORG remained intact.
""The key here is that the chemical business does not have the growth potential as the ag-biotech and the ag-chemical and the drug component could,"" ORG analyst PERSON said.
Monsanto Chief Economist PERSON said in a telephone interview that no options for the chemical operations had been ruled out.
He added that a decision was expected to be made as soon as possible, but did not give a timeframe. ""As soon as practical,"" he said.
ORG had been expected to shed its chemical businesses, which are affected by economic cycles and the price of commodity raw materials, since the sale DATE of its worldwide styrenics plastics business.
In DATE, it has been the strength of ORG's agricultural business that has propelled the stock upward.
Spinning off the chemical businesses as a separate company was the option that most analysts favoured, since it would not have the tax implication of an outright sale.
""I would say the chances of keeping it (chemicals) and restructuring it are pretty slim,"" WORK_OF_ART analyst PERSON said.
The chemical businesses that may be sold or spun off include nylon and acrylic fibers, PERSON plastic interlayer, which is sold to glass manufacturers, and speciality chemicals.
""The chemical operations ... would be very viable as a standalone company,"" said ORG analyst PERSON.
Cash said ORG's acrylic fiber, nylon and PERSON businesses have limited competition in GPE and very favourable cost structures.
""It would be a focused company with good technology ... and a lot of interest in the assets from a stock market perspective, if they choose to spin it off,"" Cash said.
However, agricultural chemicals would remain as CARDINAL of the crown jewels of the life sciences division.
ORG's popular ORG weed killer is key to ORG's agricultural biotechnology business. The company has developed crops that are genetically altered to resist ORG.
The life science operations also would include food additives and ORG's ORG pharmaceutical division. In a recent report, ORG said it expected ORG to keep ORG, which some analysts previously thought would be sold.
In DATE ORG's chemical sales of MONEY accounted for PERCENT of the company's total sales of MONEY. The chemical businesses' operating profit of MONEY was PERCENT of the total profit of MONEY.
In contrast, agricultural profit of MONEY accounted for PERCENT of the total.","GPE cereal leader PERSON is hoping its competitors cut back on their promotional efforts, but failing that it may be forced to increase costly marketing efforts DATE.
""The ORDINAL thing they are going to do is hope the competition will cut back (on) promotions,"" said ORG analyst PERSON, who attended a meeting between ORG and analysts on DATE.
""Their initial strategy is more of a passive one,"" he added.  
But if competitors such as rival ORG do not cut back on discount coupons and other consumer enticements, ORG will have to respond in kind, analysts said.
""ORG is resolved to rebuild their market share,"" ORG analyst PERSON said.
Kellogg, the leader in the MONEY GPE ready-to-eat cereal market, has seen its market share slip to PERCENT due to competitive pressure.
""They consider PERCENT to be normal,"" said NORP ORG analyst PERSON.  
Analysts who met with ORG said the company did not outline its market share strategy, except to say it does not intend to return to deep-discounts and giveaways.
""They say they will do what is necessary to regain their market share, but for now will avoid the deep discounts,"" SBC GPE analyst PERSON said.
Kellogg officials were not immediately available for comment.
Still, analysts say LOC, DATE firm, which DATE was forced to cut prices to respond to the competition, cannot sit and do nothing.  
""I think ORG is more likely to increase promotions (in DATE) and target promotional efforts behind new products,"" PERSON added.
For now, ORG is not expected to increase its marketing push too much, given its pledge to report modestly better DATE earnings compared to DATE $MONEY a share.
""They're very concerned about their credibility after DATE and are not likely to do anything that will prevent them from making that very modest increase in DATE earnings,"" PERSON said.
DATE earnings were down PERCENT, which ORG blamed on competitive pressures.
Compounding Kellogg's problem is the slow growth in the GPE cereal market, despite a round of price cuts by major companies DATE. ORG said the market overall grew by PERCENT in DATE.
""The price cuts didn't work. It didn't help their (ORG) volume or industry volume,"" said Schroder GPE's PERSON. ""(That) backs up my contention that consumers who want to eat cereal are eating cereal, whether its $MONEY a box, which they complain about, or $MONEY a box, which they would prefer.""
ORG Chicago PERSON",1
"A high-profile purge at ORG of any managers found to bear responsibility for failing to spot irregular dealings by former fund manager PERSON is expected DATE, banking sources said on DATE.
The investment banking arm of ORG is due to complete a preliminary report with accountants ORGamp; PERSON into what went wrong internally and led to the suspension of CARDINAL ORG (ORG) funds DATE and PERSON's dismissal for alleged ""gross misconduct"".
Trading in the CARDINAL funds, which totalled MONEY (MONEY) and were held by around CARDINAL retail investors, was temporarily suspended early in DATE but resumed after ORG stepped in with QUANTITY cash injection.
Young, who has had his assets frozen and his passport impounded, is currently under investigation by GPE's ORG, which probes major financial crime.
He has said he was not guilty of any criminal activity and is being made a scapegoat for failings.
A probe into his management of CARDINAL of the funds in question, which held too high a proportion of unlisted, speculative stocks has been underway since problems emerged.
Both PERSON and investments watchdog ORG (ORG) have undertaken their own inquiries with forensic accountants carrying out a detailed dissection of trading history of the funds.
ORG's own investigation, which could lead to hefty punishments against the firm, will take longer to conclude.
There have been conflicting reports over what the ramifications of any sackings following the debacle would be.
As head of the asset management arm PERSON position will inevitably be under review but some NORP newspapers have suggested key ORG clients are opposing any action against him while others are said to be threatening to withdraw assets if he stays.
A similar quandary is reported to be exercising the minds of ORG (DMG) officials in GPE and ORG hierarchy in GPE.
Other key managers, including PERSON, ORG's chief NORP investment officer and PERSON, compliance director for the fund management business are also likely to face scrutiny because of their executive responsibilities.
ORG said it could not comment on speculative newspaper reports, but the group said when problems ORDINAL surfaced that it would produce a preliminary report within DATE.
""We can't comment on any such speculation and we have always pointed out that we would announce potential management decisions after the internal investigation has been finalised,"" a ORG spokesman in GPE told ORG.
From the beginning ORG has made it clear that it would take any action deemed necessary to restore confidence in its fund management business and if lapses in internal controls were found, heads would roll.
But despite difficult decisions emerging in DATE, ORG's resolve to give its fund management arm and by association its investment banking operation a clean bill of health, has not faltered, banking sources said.
($MONEY Pound)","GPE CARDINAL cocoa crop is likely to top QUANTITY after good DATE harvests and abundant flowering for the mid-crop (DATE), crop analysts and buyers say.
""The total crop will be QUANTITY,"" said CARDINAL crop analyst returning from an upcountry tour of cocoa farms. ""The flowers and cherelles (early pods) are there and with a little more rain we could see well over a million.""
CARDINAL source estimated arrivals by DATE at QUANTITY. Industry estimates of arrivals up to DATE from DATE, were in the CARDINAL to QUANTITY range. This compares with CARDINAL in DATE.
Attention is now focused on rainfall figures and pod survival rates in DATE for a firmer indication of midcrop tonnage.
GPE posted a record QUANTITY crop in 1995/96 after an unexpectedly strong QUANTITY mid-crop and has QUANTITY for CARDINAL.
Crop analysts said pod loads were heaviest in younger hybrid tree farms in southwestern areas where rainfall had also been more favourable for late main crop and mid-crop development.
""Canopies are in reasonable shape and there are plenty of QUANTITY cherelles and pods,"" said CARDINAL analyst.
Farms north of GPE seen by ORG still bore noticeable late main crop pod loads but older trees, around PERSON and PERSON, generally had few flowers and pods.
Upcountry buyers' stores were surrounded by large amounts of drying DATE cocoa, with more arriving from village farms.
""Cocoa is coming out fast. Farmers have no incentive to stock so we are seeing fresh crop,"" said CARDINAL store owner in NORP. ""Exporters are not buying but we expect things to get (cocoa) moving again in DATE and DATE."" Stocks would rise in some areas for a short period, he added.
""DATE has been better than DATE,"" said CARDINAL buyer at in GPE. ""Our DATE estimates were too low."" He and others agreed that DATE and DATE harvests would be down on CARDINAL.
Buyers around Gagnoa and ORG said most main crop pods had been harvested by DATE but large amounts of cocoa still up-country would not be seen at ports until DATE.
GPE wind conditions had returned to cocoa areas DATE making drying of cocoa easier, but farmers said they expected rains to return after a brief wave of showers in DATE.
A new manager at GPE largest plantation near GPE said care of trees would be more determinant for pod and flower survival rates away from hybrid areas.
""Farmers have not kept up maintenance and canopy trimming around here and the results are clear,"" he said.
He pointed to plantation trees at CARDINAL side of a bush track with late main crop pods, and plenty of cherelles and flowers.
On the other side of the track, more densely planted and villagers' untrimmed trees on similar soil were largely bare.
Exporters' agents and buyers say cocoa purchasing has dropped off now that GPE warehouses are full.
Shipments remain low on weak overseas demand.
""There are no shipments so exporters have cut purchasing,"" said CARDINAL exporter. ""At GPE, arrivals are coming in at QUANTITY a week compared to CARDINAL in DATE.""
Exporters said port stocks estimated at upwards of QUANTITY would shrink in DATE and especially DATE when they expect export contract deadlines to boost shipment levels.
Cocoa humidity levels of PERCENT were being recorded upcountry. Buyers said they would mix new arrivals with PERCENT cocoa stored in GPE stores waiting for an upswing in demand. CARDINAL exporters out of CARDINAL were actively purchasing, one said.
Shipping forwarders at GPE said empty warehouse space would rise from DATE. ""ORG will pick up DATE but DATE will be a boom (for shipments).""
-- Abidjan newsroom + 225 21 90 90",0
"ORGamp; ORG on DATE emerged with the winning hand after a lengthy poker game over the future of international exhibitions group PERSON.
ORG, which has interests in NORP national newspapers and commercial television, trumped its rivals with an agreed offer valuing PERSON at MONEY (MONEY).
The deal will create the world's largest trade exhibition group with a turnover of MONEY based on DATE figures.
Media and financial services group ORG said it had already secured acceptances for PERCENT of PERSON after offering QUANTITY per share.
""The acquisition will be earnings-enhancing in DATE but the real attraction is the long-term growth we can get out by combining these businesses into CARDINAL group,"" ORG chief executive PERSON told ORG.
ORG shares added MONEY to MONEY after the announcement, while PERSON gained CARDINAL to CARDINAL.
NORP publisher ORG, which DATE acquired a PERCENT stake in PERSON, said it would not make a counter bid and was likely to sell its stake. That decision effectively removed the threat of a bidding war developing for PERSON.
NORP-NORP media group PERSON had been regarded as a rival suitor, but sources close to the company indicated in DATE that it had dropped out of the running.
NORP utilities group ORG confirmed on DATE that it planned to sell its PERCENT stake in PERSON following ORG's offer.
The deal ends an on-off saga that began in DATE when PERSON said it had received a bid approach. In DATE it said that talks with an unnamed party had broken down but then made another statement DATE confirming a new approach.
Analysts said that PERSON's geographical strength in continental LOC, and GPE in particular, made it a good fit with ORG.
""After ORG's move, ORG have done well to tie it up at MONEY a share,"" said PERSON of ORG.
""In PERSON, ORG have a substantial established business in this area and PERSON will fit well into it.""
ORG's ORG subsidiary operates CARDINAL exhibitions in GPE, LOC and LOC but the NORP market is seen as its main strength. These exhibitions are supported by a range of trade publications.
PERSON operates CARDINAL exhibitions worldwide but does not have a significant publishing portfolio.
""The directors of ORG believe that ORG and PERSON trade show portfolios are highly complementary geographically, by market sector, and in terms of operational management,"" ORG said in a statement.
The acquisition is the ORDINAL major move by ORG since the national newspaper group merged with television and financial services group ORG DATE.
That merger doubled the size of the company, creating a NORP media major with a market capitalisation of MONEY. (MONEY)","ORG (OFT) on DATE launched a probe into the way travel companies sell foreign package holidays to CARDINAL of sun-seeking ORG.
The director-general of the consumer watchdog body, PERSON, called a Monopolies and Mergers (MMC) inquiry into ownership links between leading tour operators such as ORG and PERSON and retail travel agents.
The MMC will also be able to look at the practice among travel agents of offering holidays at a discount conditional on the purchase of specific travel insurance.
Both travel companies said they were confident they would be cleared by the DATE MMC inquiry. But shares in PERSON plunged PERCENT in GPE, losing CARDINAL to CARDINAL.
NORP noted that vertically-integrated companies like ORG and PERSON supply a large proportion of a market worth MONEY (MONEY) and he was concerned that some of their practices could distort competition.
""I believe they have the market power to put competitors at a disadvantage, for example by de-racking (removing) or threatening to de-rack their brochures in an attempt to negotiate larger commissions,"" he said.
He also said they could pressurise tour operators not to supply independent travel agents on better terms or push their own holidays through in-house incentive schemes.
PERSON owns the leading PERSON travel agency, while PERSON owns the number CARDINAL travel agent ORG.
Together they operate PERCENT of NORP travel agents. They also supply PERCENT of CARDINAL foreign packages sold to PERSON who make the DATE pilgrimage to seek the sun around the LOC or further afield.
PERSON, part of GPE's ORG, welcomed the probe.
""PERSON is confident that the industry at large, and PERSON in particular, will be vindicated from any allegations of anti-competitive practice,"" said PERSON, chairman and chief executive of ORG.
""We have been cleared by the ORG before in DATE and we are sure that we will be cleared again by the MMC,"" he added.
Airtours deputy chief executive PERSON said there was no case to answer and claimed the NORP market offered the world's cheapest foreign holidays.
""Those behind the inquiry are the small tour operators and the small travel agents who can't stand the heat in the kitchen,"" he said.
But the smaller tour operators were delighted that the MMC was taking up the matter.
""Big companies are screwing the consumer and the smaller operators,"" said PERSON, head of ORG. ($MONEY Pound)",1
"ORG CARDINAL largest labour federations said on DATE they would not sign a new wage and price control pact with bosses and the government, and warned DATE could be DATE of serious social unrest.
They condemned the DATE social pact, ORDINAL introduced by President PERSON in DATE, as a way of forging ahead with neoliberal policies at the expense of workers, and said such a model would fuel political polarisation in DATE.
""The social pact reflects neoliberal logic and aims to pay workers less in order to make industry more competitive. The pact is a corporatist tactic that does not serve the interests of the people,"" said PERSON, chairman of ORG), the country's largest labour organisation.
Following internal elections in DATE, left-wingers led by ORG members like GPE seized overall control of the ORG from ORG moderates, who had bowed to previous government demands to sign a pact.
This DATE's pact agreed to a PERCENT wage hike for workers based on an inflation target of PERCENT. But while salaries were kept within strict limits, the cost of goods and services spiralled, pushing inflation to PERCENT in DATE -- a PERCENT drop in real wages in DATE.
The central bank DATE set a DATE inflation target of PERCENT. The government, employers and union leaders were due to meet on DATE for another round of discussions on the DATE social pact.
""The government has put the economy on a war footing to combat crime and subversion. If that continues I think there's a grave risk of further polarisation of political forces in DATE and we will be in for a very difficult time,"" PERSON said.
PERSON, of the general secretariat of the NORP NORP-influenced ORG (CGTD), also warned of worsening labour relations in DATE.
""We don't want to be accused of trying to bring down PERSON's governmment but if the situation doesn't change we could be calling on the working classes for a nationwide stoppage,"" he said.
The ORG, with CARDINAL affiliates, and the ORG, with CARDINAL members, said they would be looking for minimum wage increases of PERCENT to make up for the real term erosion of salaries DATE coupled with a productivity premium.
The CARDINAL-strong ORG (ORG), normally loyal to ORG, said it would be looking for wage rises of PERCENT.
Labour Minister PERSON was confident a social pact will be signed by DATE, a spokeswoman said. PERCENT of the NORP labour force is unionized.","A former NORP rebel leader who masterminded a DATE takeover of an embassy in GPE in DATE on DATE urged NORP guerrillas holding hostages in the NORP embassy residence in GPE to keep cool.
PERSON, alias ""ORG"" of the now defunct PRODUCT group, urged LAW (MRTA) gunmen to avoid bloodshed.
He said the crisis in GPE, where MRTA guerrillas took CARDINAL hostages in the residence on DATE TIME, hung by a thread and CARDINAL false move by the rebels or security forces could spark a bloodbath.
PERSON headed an occupation of the NORP embassy in GPE which began in DATE. A CARDINAL-strong commando of the PRODUCT held CARDINAL hostages, including CARDINAL diplomats, for DATE before mediation by NORP leader PERSON ended the crisis and the guerrillas took refuge in GPE.
""These situations are moments of high tension, great uncertainty and intense panic. The MRTA must try to keep as calm as possible,"" PERSON told ORG in a telephone interview from the southwestern city of GPE.
""At any ORDINAL there could be a tragedy because the whole rebel operation hangs by a thread between success and failure,"" he said. ""Both sides must work towards a rapid solution and keep a cold head in any negotiations.""
PERSON said that the MRTA, like the PRODUCT which laid down its arms in DATE, was fighting for social justice.
""We shouldn't fall into the trap of generalizing the MRTA as a NORP force. Like us it is fighting for a NORP process of democracy,"" PERSON said.
He said he would be ready to travel to GPE to help negotiate an end to the crisis based on his experiences of DATE.
""I would say to the NORP that these situations can only be resolved with patience and with the desire for dialogue,"" he said in a separate interview with GPE's Caracol radio.
In DATE, PRODUCT guerrillas seized ORG in GPE and held CARDINAL hostages for DATE before the army stormed the building. CARDINAL people were killed, including rebels and judges.
""The NORP government must at all costs avoid any repeat of a ORG scenario. The NORP people have still not recovered from the scars of that incident,"" he said.",1
"ORG  PMIDO DATE warned of lower-than-expected sales and earnings for DATE, blaming increasing competition in the craft beer industry.
GPE-based ORG said sales would be PERCENT below DATE levels on a wholesale basis and said it expected to just break even for DATE, compared with analysts' projections it would earn MONEY a share.
In DATE, the company posted gross sales of MONEY and net income of MONEY, or MONEY a share.
Pyramid's warning was the latest to roil the trendy craft beer industry, which has disappointed investors who snapped up stock sold in a spree of offerings over DATE.
Pyramid stock, which went public at $MONEY as ORG in DATE, fell MONEY after the announcement to $MONEY a share in Nasdaq trading. It ended an abbreviated trading session MONEY lower at $MONEY.
PERSON's crosstown rival, ORG , which DATE warned of weak sales, was trading at $MONEY on ORG, compared with its DATE offering price of $MONEY a share and a peak of $MONEY.
ORG, maker of PERSON beer, was trading at $MONEY on ORG, compared with an offering price of $MONEY little more than a year ago and a peak of $MONEY.
Brewers have blamed tough competition, particularly in the LOC and on LOC, where the premium-priced beers have caught on most quickly with consumers.
But market share for craft beers may have peaked in many of those initial markets, while an increasing number of varieties crowd grocery store coolers.
""Not a lot of new consumers are trying craft beers any more,"" said analyst PERSON of PERSON, referring to more mature markets. ""The people who are going to try them have tried them. They just haven't built any brand loyalty.""
She said CARDINAL craft brewers nationwide were distributing beer, up from CARDINAL DATE. And brewers are adding more specialty beers, increasing competition and confusing consumers.
While breweries have been offering promotional discounts, analyst PERSON of brokerage PERSON said the industry may be ripe for more serious price cuts and consolidation.
""People are going to have to think about addressing the price issue and spending more on marketing,"" he said. ""They're going to have to play the beer game more than they have been playing the beer game.""
But analysts said there was still a lot of room for growth in new markets. Nationally, craft beers account for PERCENT of sales, compared with PERCENT in markets such as GPE and GPE, she said.","GPE's information technology and telecommunication industry (ORG) on DATE welcomed a decision by LOC leaders that would lead to a substantial reduction in tariffs.
""It is certainly welcome, as the telecommunications area has some very strong barriers in many markets,"" said PERSON, export manager of ORG (ORG).  
Bayley told ORG that GPE has no trade barriers on IT&T equipment, whereas local companies have to compete in markets that have high tariff barriers.
The meeting in the GPE of CARDINAL leaders of ORG (ORG) economies endorsed a GPE plan to free the DATE MONEY global trade in computers, memory chips and telecommunications equipment.
However, most IT&T observers wanted more details about the tariff plan before they could assess its implications for the NORP sector.  
CARDINAL computer industry analyst said the ORG plan is likely to benefit NORP ORG exports, but is unlikely to stimulate growth of technology imports into GPE.
""One would have thought with the relative maturity of our market that exports could increase faster than imports,"" the analyst said.
He said there could be a mild boost in demand from home users of computers, but it is unlikely to affect the demand in the corporate market.  
But another analyst said most of GPE IT&T exports are from multinational corporations with operations in GPE and these companies are the ones that are most likely to benefit.
Australia exported MONEY in ORG goods in DATE but imported around MONEY worth of ORG goods over the same period.
GPE computer giant ORG exports MONEY of its computers from GPE to LOC, making it the country's single largest technology exporter.  
NORP telecommunictaions equipment maker ORG is another multinational with large export volumes from GPE.
ORG's ORG said the association has a target of MONEY in ORG exports by DATE.
DATE, GPE's ORG exports were negligible.
-- Sydney newsroom CARDINAL-2 9373-1800",0
"GPE's stock market drifted lower in moderate trading to close softer on DATE, weighed down by a battered oil and gas sector despite firmer bank issues.
The key CARDINAL Composite Index fell CARDINAL points to end at CARDINAL in trading of CARDINAL shares worth MONEY (MONEY).
""The energy sector's the one that got clipped here,"" said fund manager PERSON.
The oil and gas group lost PERCENT and led CARDINAL of GPE's CARDINAL sub-indices south.
Other falling sectors included conglomerates, transportation and golds. The stronger side was led by consumer products, heavily weighted banks and pipelines.
PERSON, ORGamp; Co. analyst, said several factors hit energy issues including weaker oil prices for most of DATE, recent news that ORG will cut back on production soon and ORG failure to take over ORG
In a surprise move NORP 88 said on DATE that it withdrew its hostile bid for ORG.
Declines raced ahead of advances CARDINAL to CARDINAL while another CARDINAL traded unchanged.
Schachter forecast that GPE's weakness was only short term. ""This is just a buying opportunity.""
Energy stocks were heavily traded on DATE. PERSON shares lost CARDINAL to end at CARDINAL on CARDINAL shares while NORP 88 slipped CARDINAL to CARDINAL on CARDINAL shares.
ORG lost CARDINAL to reach CARDINAL on CARDINAL shares.
ORG managed to buck the falling trend, gaining CARDINAL to hit a new high of CARDINAL.
Fairfax ORG topped GPE's gainers after rising CARDINAL to CARDINAL.","ORG ORG company which is due to be floated off in GPE on DATE - said on DATE it planned a share buyback by DATE after completing debt cutting and investment plans.
Millennium chairman and chief executive PERSON told ORG in an interview on DATE that he also planned a low-yielding dividend policy as he saw the company as a growth stock.  
Millennium net debt levels are seen MONEY. ORG said the chemcials company would initiate a buyback by DATE after reducing debt, implementing its capital expenditure plans and using proceeds from its steady cash generation.
Investment plans include continued expansion in the speciality products and regions including LOC.
On dividend policy, PERSON said the payout would not be high bearing in mind the need for investment and cutting debt. ""Our payout will be MONEY a year or MONEY a quarter.""  
""We are not a dividend yield stock. We are a growth company,"" he concluded.
On trading, PERSON said he expected ORG to be able to make its DATE price increases stick after heavy destocking by customers.
ORG's recently reported improvement in pricing and demand also continues, he said.
He added that the recent plant closure at ORG would have a neutral trading profit impact because the plants were not profitable and had been replaced by new more efficient plant capacity.  
The closure had already resulted in MONEY of charges to write-off fixed assets, he said. But he revealed that a further MONEY charge still has to be levied.
DATE newsroom +44 CARDINAL 5427717",0
"GPE tenuous coalition government sought on DATE to repair the damage caused by the shock departure of ORG Minister PERSON, who quit after admitting using a phoney academic title.
A cabinet aide said Prime Minister PERSON and key members of the CARDINAL-party coalition government were waiting for PERSON's party to meet TIME the day before serious talks on his replacement could begin.
President PERSON asked PERSON, leader of ORG (ODA) a junior coalition partner, to reconsider his decision to quit.
PERSON, a deputy premier, resigned his cabinet posts and parliamentary seat on DATE in a speech which caught everybody off guard.
He quit after telling parliament that he ""wasn't happy to be the next episode of a soap opera, but the title Juris Doctor does not belong to me.""
He later explained his decision to ORG, who is recuperating in a GPE clinic from lung surgery on a cancerous tumour.
""The president, not being bound constitutionally by any deadline, called on PERSON to think about his intended step for DATE,"" said a statement issued by the president's office after the meeting.
It said ORG gave the president a request for PERSON's dismissal, as protokol requires, and added that ORG would consider it further. PERSON was not available for comment.
As accusations spilled across the floor of parliament, CARDINAL other members had previously admitted to using ""Doctor of Law"" falsely in a country where academic titles are more often used than ORDINAL names.
Leaders of the ODA, which has CARDINAL ministers in the CARDINAL-member cabinet, were to meet later to consider who to nominate in PERSON's place, a decision which rests with the party according to an agreement which set up the government.
They were also expected to discuss whether PERSON should remain as chairman of the strongly pro-business party, which he helped to set up ahead of general elections in DATE.
Political analysts said PERSON's confession was damaging but the government, which lost its parliamentary majority in DATE elections, could survive entact if the ORG agreed speedily on who should lead it in the cabinet.
CARDINAL factions within the ORG, one associated with ORG Minister PERSON and the other with minister at large GPE, were likely to fight for control of the party.
""If the ORG does not have a good candidate quickly, the government could do some reshuffling,"" PERSON, director of research at ORG, told ORG.
The government's stability could be endangered if the coalition agreement, pounded out in DATE of tense negotiations following the DATE elections, was reopened.
Klaus told reporters on DATE that PERSON's resignation was disquieting and unsettling and ""a political swerve"" but the government would aim to take it in its stride.
The foreign exchange market, wary of any instability, reacted sharply and the NORP crown was volatile throughout TIME trading.
The usually stable currency fell CARDINAL basis points against ORG mark/dollar basket before recovering when the central bank fixed it at PERCENT above parity and then returned to DATE's levels TIME.","GPE's economic growth is likely to accelerate in DATE as GPE pumps up its economy before a crucial ORG congress that may tackle nagging reform problems, state media said on DATE.
Political factors were likely to be a significant factor in a possible renewed boom DATE in one of the world's fastest growing economies, ORG quoted PERSON of ORG as saying.
However, PERSON also warned that the higher growth could see the spin-off of a renewed burst of inflation and warned of rising joblessness, giving one of the most pessimistic unemployment forecasts to be published openly in GPE.
Gross Domestic Product (GDP) in DATE could reach MONEY (MONEY), growing by PERCENT compared with an anticipated PERCENT increase DATE, the newspaper quoted PERSON as saying.
GDP grew by PERCENT in DATE and GPE's communist rulers have been trying to cool the rate slightly amid signs the economy was threatening to overheat. GPE has set a goal of PERCENT average growth for the DATE Ninth DATE.
PERSON linked his higher growth forecast to the DATE ORG congress, set for late in DATE, which he said was expected to take some difficult decisions to eradicate the low economic efficiency and operational losses plaguing CARDINAL of lumbering state enterprises.
""These political factors, if the government makes use of them smoothly, will provide strong backing to national economic performance in DATE,"" the newspaper said, quoting PERSON.
Diplomats and western economists have said GPE may try to revive an economic boom in DATE in the run-up to the party congress as part of a push to bolster the standing of the current leadership before a meeting when personnel reshuffles are a key issue.
Xu forecast retail price inflation to speed up slightly in DATE to PERCENT from an expected PERCENT DATE. Inflation was PERCENT DATE, down from a communist-era high of PERCENT in DATE.
Official media have been rife with speculation that GPE may again trim interest rates after CARDINAL cuts already DATE but central bank officials insist GPE has no plans to do anything more than ""appropriately"" adjust a DATE tight monetary policy.
PERSON said foreign trade was expected to make a strong recovery after exports slumped in DATE, especially as the government completes repayment of MONEY of export rebates to exporters.
He forecast exports to reach MONEY in DATE, up PERCENT from DATE.
PERSON urged a further cut in import tariffs DATE, a move that GPE has promised and which could lubricate GPE's bid to gain entry to ORG.
However, PERSON forecast a sharp increase in unemployment.
In DATE, the number of people out of work in the urban area could be CARDINAL, including workers left idle because of suspension of factory production, he said.
The urban jobless rate could reach PERCENT DATE if both surplus workers at factories and registered unemployed were included, PERSON said.
GPE's official registered urban jobless rate was PERCENT at DATE.",0
"ORG, which DATE pleaded guilty to CARDINAL counts of price fixing, took steps DATE to ease the reins out of the hands of its DATE chairman, PERSON.
ORG, which faced strong criticism from big shareholders at its DATE meeting on DATE, said it formed a CARDINAL-member office of the chief executive, a post that has been held solely by Andreas.
""The fact that they (ORG) listed the ages is signalling something: They're setting this up as part of their succession plan and ... there is more to come,"" WORK_OF_ART analyst PERSON said.
ORG also named replacements for CARDINAL other executives who left the company DATE and remain targets for possible criminal indictments in the federal probe -- Vice Chairman PERSON, the son of Dwayne Andreas, and PERSON, who had been group vice president in charge of corn refining.
The giant agricultural products company said the newly formed office of the chief executive will consist of PERSON, PERSON, president, DATE, PERSON, DATE, president of ORG's processing division, and PERSON, DATE, a nephew of PERSON and counsel to the executive committee of the board of directors.
PERSON, GPE deputy controller for pensions, which hold CARDINAL ORG shares, applauded the executive realignment as a means to address succession. But he said more changes were needed within ORG's top ranks.
""There remains another issue, which is corporate culture,"" said PERSON.
GPE pension funds have been among several institutional shareholders pressing for changes in ORG's board and management in the wake of the GPE antitrust investigation that targeted the company.
A shareholder proposal requiring that the GPE, Ill.-based company's board be composed of a majority of independent directors was defeated at the DATE meeting, but received an usually heavy PERCENT of the votes cast.
On DATE, ORG agreed to pay MONEY in fines and pleaded guilty to fixing prices of lysine, a feed additive, and citric acid, an additive used in foods, beverages and other products.
Among the CARDINAL-member office of the chief executive, PERSON stands out given his experience building ORG's business in LOC, said ORG PERSON.
""It goes a long way to putting the events of DATE behind the company,"" PERSON said of the management changes.
ORG made no mention of the antitrust investigation, which is continuing, although the company has been given immunity from further prospecution in return for its cooperation.
DATE, ORG said PERSON took a temporary leave and ORG retired for health reasons. In its proxy statement for the DATE meeting, ORG said indictments were being considered against the younger PERSON and ORG.
The new vice chairman is PERSON, DATE, an outside director, who heads ORG, a farmer-owned cooperative in GPE, GPE, that is the ORDINAL-largest poultry processor in GPE and CARDINAL of the largest shareholders of ORG.
ORG also named PERSON, DATE, as president of ORG's corn processing division and a group vice president, in addition to his dutues as president of ORG's protein specialities.
The company's lysine and citric acid products are both derived from corn.","At ORG DATE meeting DATE, Chairman PERSON declined to give shareholders the floor, saying, ""This meeting runs according to my rules.""
DATE, however, shareholders are pressing for different rules.
CARDINAL institutional shareholders will have the floor at DATE's meeting here to present proposals dealing with corporate governance -- or how the board of directors oversees corporate management at ORG, which on DATE pleaded guilty to CARDINAL counts of price fixing and agreed to pay MONEY in fines, by far the highest penalty ever for violating antitrust laws in GPE.
In its guilty plea, the company admitted it fixed prices for lysine, a feed additive, and citric acid, widely used in foods, beverages and other products.
The shareholder vote at this DATE's meeting is expected to be close for one proposal that calls for ORG's board to be composed of a majority of independent directors with no personal or business connections with the company.
A survey of early votes showed that PERCENT were in favour of the measure, ORG (Calpers) said on DATE. Calpers, the nation's largest public retirement system, known for its shareholder activism, co-sponsored the proposal with ORG.
""This proposal is prompted by our belief that the employment, business and family relationships of any corporate director has the potential to raise conflicts of interest that may limit the vigilance and diligence of the board,"" the co-sponsors said in a supporting statement contained in ORG's proxy materials for the meeting.
The independence of ORG's board has been an issue since it was disclosed in DATE that the company was the target of a federal price-fixing investigation. Despite the settlement with ORG, some major shareholders continue to voice concern about the board's ability to oversee ORG's management.
Of particular concern to some is that the department continues to investigate CARDINAL top ORG executives -- Vice Chairman PERSON, the son of Chairman PERSON, and PERSON, group vice president in charge of corn refining. Lysine, citric acid and other ORG products are refined from corn.
""There needs to be dramatic reform at this company, at both the board and the management level,"" said PERSON, director of special programmes at ORG union, which is sponsoring a proposal DATE to hold directors personally liable in cases of gross negligence.
In addition, ORG has proposed that confidential ballotting be allowed in shareholder votes, except in cases where there is a contested board election.
Since DATE meeting, ORG has agreed to cut its CARDINAL-member board down to CARDINAL members. All current company executives have left the board, with the exception of GPE.
Some institutional shareholders have questioned the independence of ORG's nominees as outside directors. CARDINAL nominee, PERSON, is the daughter of ORG, a former board member who retired from ORG DATE. Other nominees include former Secretary of ORG and former Ambassador PERSON.
At DATE meeting, which was punctuated with rounds of applause for ORG executives, the board defended its independence. PERSON, a board member and former prime minister of GPE, said at the time that ORG's independent directors ""are fully independent and have the utmost integrity.""",1
"A small but growing number of NORP intend to raid the electronic halls of the Internet for holiday gift-buying instead of strolling through local malls, according to a new survey.
PERCENT of NORP with access to the worldwide computer network said they planned to buy a gift using the Internet, a ORGamp; ORG survey said DATE.
""It's PERCENT. It's much CARDINAL, CARDINAL or CARDINAL,"" said PERSON, a retail and consumer business consultant.
CARDINAL NORP will have access to the Internet by DATE, according to PERSON, senior vice-president of marketing research firm ORG
Once they are on the net, NORP will have access to CARDINAL electronic malls, ORG said.
PERSON, ORG analyst, said that online shopping is starting to evolve. However, ""it's not going to replace walking to a store and buying something.""
Many people still like to feel the items they buy.
Recently ORG unveiled partnerships to develop an Internet retailing outlet that would include a Web site for GPE's largest department store chain, ORG's FAC..
NORP are more progressive than NORP when it comes to online shopping but not by much, ORG found. ""(Interest is) still slightly under the GPE but it's not bad for the ORDINAL or ORDINAL year,"" Manchon said.
Manchon also said that CARDINAL of the people who have access to the Internet, estimated at CARDINAL worldwide, have already bought something using their computers.
And more retailers intend to take advantage of this increasing Internet use, the survey found.
PERCENT of retailers said they're going to invest in DATE in Internet-related technologies whereas PERCENT said that DATE.
""So that's a dramatic increase,"" Manchon said.
Popular shopping items online tend to be electronic goods, which consumers like to comparison-shop, price-sensitive products and everyday purchases such as toothpaste and cleaning powders, ORG said.
Companies such as ORG, GPE largest retailer, have used the Internet to collect research about customers and test new products before installing them on their shelves.
Manchon also said GPE's retailers were expecting a better DATE compared to DATE dismal showing. ""The optimism is growing from DATE to month,"" Manchon said.
""It shows in the numbers of several retailers that we know,"" Manchon said. ""We can confirm that numbers of many of them are going up, slowly.""","ORG (BA) on DATE boosted its position in GPE when NORP bank PERSON joined its bid for ailing NORP regional airline ORG.
Rivaud, a founding shareholder in ORG and a former partner in a rival consortium, agreed with ORG after marathon talks started on DATE TIME and ending at TIME.
It is the only bid left on the table and the commercial court in GPE is expected to approve the offer on DATE. PERSON GPE-based ORG and commercial pilot PERSON had also been working on takeover offers.
The BA/Rivaud proposal still needs the blessing of ORG creditors and NORP political authorities.
ORG has a PERCENT stake of the domestic NORP market and ORG's ORG unit PERCENT. The market is still dominated by the state-owned ORG group.
""The situation is delicate,"" said PERSON, chairman of ORG, adding he hoped the court would take a quick decision.
""Our partnership with the Groupe Rivaud offers the ideal solution for ORG very poor financial position. To save it requires quick action,"" ORG chief executive PERSON said in a statement.
""It's an excellent solution. We keep all the assets. I do not see another NORP solution, the last deadline was DATE,"" ORG founder and chairman PERSON told ORG.
ORG will make a MONEY (MONEY) equity investment for a PERCENT stake in ORG and PERSON will put up CARDINAL for PERCENT. On top of that PERSON will make a write down on MONEY of its old stake and also on MONEY in loan stocks.
Both companies will pay the costs of running ORG during administration, estimated at MONEY.
Rochet told a news conference ORG debt now stands at MONEY. Creditors can either get PERCENT of their money in cash or get fully paid DATE.
Rivaud, headed by industrialist PERSON, had originally been part of a consortium of travel groups ORG, PERSON and ORG.
ORG chairman PERSON said he and the NORP airline had withdrawn because of the ""extraordinary disastrous financial situation"" of ORG.
Bollore is chairman of a shipping and financial group with his name. He was made the chairman of ORG DATE and the bank is increasing its capital especially for ORG.
A Bollore official said PERSON had changed camps on DATE after ORG and other partners said they were unwilling to stump up the money needed for a CARDINAL stake.
Rivaud, PERSON and airplane leasing company ORG were among the original backers of ORG DATE.
The BA/Rivaud plan is based on the DATE business plan for ORG drawn up by ORG. It will safeguard CARDINAL out of CARDINAL ORG jobs and aims for break-even in DATE.
PERSON will continue to run ORG which owns CARDINAL of the landing and take-off slots at Orly airport, GPE' ORDINAL airport specialising in domestic flights.
It lost MONEY in DATE due to an air fare war and insufficient passenger numbers in the run-up to full liberalisation of NORP airspace in DATE. ($MONEY NORP Franc)",0
"GPE's foreign currency B shares went on another roller-coaster ride on DATE, with GPE stocks rising PERCENT at TIME before falling back to score a modest PERCENT increase on DATE.
The GPE B share index was up PERCENT at the close after hitting its DATE-high of 54.475 at DATE session.
Brokers said domestic investors were heavily in the market again in spite of a ban on the purchase of the B shares by local NORP and selling by overseas investors was much in evidence, particularly in GPE.
The B shares in both of GPE's stock markets have soared in DATE on persistent rumours that the authorities plan to take measures to boost the market.
But CARDINAL foreign analyst in GPE said it appeared that the implication the authorities would take no further action to limit domestic buying of B shares was enough to push them up.
""They're not going to make an announcement, but it would appear the authorities have let it be known that local investors can participate in the market,"" the analyst said.
""If that is true, then there will be some sustained momentum to the market,"" the analyst added.
The GPE B index rose CARDINAL points or PERCENT to CARDINAL points, on volume of CARDINAL shares worth MONEY, but off the intra-day year-high of CARDINAL points due to profit-taking in the afternoon, brokers said.
In GPE, the B index rose CARDINAL points, or PERCENT, to end at CARDINAL after touching an intraday high of CARDINAL on turnover of HK$415.10 CARDINAL, compared with DATE's HK$347.13 million.
""Heavy profit-taking pushed the index off its day high,"" said a broker at ORG. ""But the (GPE) index still has space to go up if there is no official denial of rumours that GPE is considering market-boosting plans.""
""With the index having gained PERCENT over the past few sessions, the risk has become gradually higher,"" another GPE analyst said.
GPE shares were pushed up largely by domestic buying of shares related to the GPE development zone. But interest in the markets from foreign investors is gradually reviving as a result of the booming trade.
""Foreign investors are looking at GPE's B share markets again, encouraged by improved fundamentals of the B share companies and especially encouraged by the liquidity shown over the last few trading sessions,"" said PERSON in GPE.","ORG said on DATE it will be giving policyholders information about ORG bid for the company when it details its own proposals to shed its mutual status and float on the stock market.
A spokesman for the life assurer, which has been fighting a public campaign against GPE's offer said: ""It's obviously only right that we tell policyholders that they made an approach for us...we don't want to hide anything from them.""
It is unclear how much detail will be put before policyholders by ScotAm which has repeatedly rebuffed GPE demands that the timetable for its demutualisation proposals be stopped to allow policyholders to consider the offer.
ScotAm has also turned down PERSON requests for access to its books or meetings to discuss the bid which values ScotAm at QUANTITY MONEY (MONEY).
It includes QUANTITY minimum payout to policyholders in cash or PERSON shares.
GPE, GPE's ORDINAL largest bank, has complained that policyholders should have the opportunity to compare the FAC proposals with alternative offers based on the same information.
The public campaign between the CARDINAL companies was stepped up on DATE with a full-page advertisement in the form of an open letter to policyholders, promising to give them all the information required to make a choice on the firm's future.
""At the precise moment when calm and considered reflection is of the utmost importance, the accent appears to be wholly on how much can be extracted by way of cash payments in the very short term, rather than on policyholders' long term best interests,"" said the letter which appeared in ORG, ORG ORG newspapers.
It went on to promise that policyholders would be informed if a ""definitive and demonstrably better offer"" was made before any vote on the proposals was taken.
The ScotAm board's fiduciary duty is to policyholders who own the company and there has been speculation that it may be holding off from embracing PERSON in the hope of encouraging other bidders to come forward.
The bid is expected to spark an auction for ScotAm but other interested parties may decide to stay on the sidelines ahead of the publication of ScotAm's float plans within DATE.
""The board obviously has a duty to do the best by policyholders - they should be exploring all the avenues they can. By refusing to cooperate with PERSON they're making things harder for themselves,"" said CARDINAL fund manager.
PERSON, life insurance specialist at ratings agency ORGamp; GPE tipped NORP insurance group GPE and ORG (ORG) as front-runners to enter the race for ScotAm.
ORG had already stated its interest in more NORP acquisitions and a company that used independent financial advisors as its main means of distribution would be a good fit, said Lees.
ORG's previous acquisition of ORG had demonstrated its ability to provide extra capital to allow aggressive development, he said.
Other companies reported to be interested include the ORG, the ORG building society, NORP group ING PERSON and NORP financial services firm GPE.
All have declined to comment on the reports. ($MONEY Pound)",0
"GPE's largest guerrilla army said on DATE it would not free CARDINAL captive government troops unless a huge swathe of southern jungle was demilitarized.
President PERSON said on DATE he would honour his pledge to clear QUANTITY (CARDINAL sq km) of Caqueta province but rejected demands by ORG (FARC) to clear CARDINAL military bases in the zone.
He urged the rebels to make a goodwill gesture and release their prisoners before DATE under terms he set DATE.
The FARC decision, relayed in a communique from GPE, is a new hitch in the process to secure the release of the soldiers, who were captured DATE when guerrillas overran a base in neighbouring NORP province.
""The FARC southern bloc maintains unchanged its original proposal (for the demilitarized zone) with the aim of offering adequate conditions to protect the lives of the CARDINAL compatriots,"" the communique said.
The ORG's DATE attack on the ORG base, in which CARDINAL soldiers died in addition to those taken prisoner, signalled the start of CARDINAL of the bloodiest guerrilla offensives in DATE.
Army commanders, already humiliated by the initial military defeat, have been loath to allow the FARC to score political points by dictating its own terms for the troop handover, military analysts said.
Samper pressured top brass into accepting a deal to clear a QUANTITY (CARDINAL sq km) area of ORG for DATE starting on DATE to make way for the troop handover, but was unlikely to be able to wring further concessions out of them, the analysts said.
The president and the military said they would not pull troops out of barracks in GPE, PERSON and PERSON for fear of losing grip on rampant drug trafficking operations in the region.
The ORG said the towns lie on strategic entry routes into and out of the proposed demilitarized zone.","A powerful car bomb rocked a residential district of GPE early on DATE, killing a woman and injuring CARDINAL other people, police said.
QUANTITY (QUANTITY) of dynamite packed into a minibus blew up outside the house of PERSON, a regional newspaper editor, politician and former provincial governor.
The NORP government said it suspected drug cartels were behind the massive blast. President PERSON vowed not to bow to terrorist violence from drug traffickers.
""We will not allow the specter of narco-terrorism to return to this country and intimidate us,"" he told reporters. ""The state will combat these acts of violnce head-on.""
CARDINAL unidentified gunmen, CARDINAL of them a woman, opened fire on private security guards near PERSON's home before the bomb went off, GPE police chief Gen. PERSON said.
He said CARDINAL houses were virtually destroyed and CARDINAL others seriously damaged by the explosion.
The dead woman was identified as PERSON, DATE, who lived near the site of the blast. PERSON was not home at the time but CARDINAL of his CARDINAL sons was injured.
Authorities offered a $MONEY reward for information leading to the capture of those responsible.
""This is a savage act. The ORDINAL indications point to drug traffickers but I don't want to draw premature conclusions,"" said Defence Minister PERSON.
The attack came DATE after ORG approved a tough new law to strip GPE's cocaine barons of their multi-billion dollar fortunes. Another bill to introduce stiffer jail terms for drug traffickers is due to come up for discussion in a special session of ORG DATE.
But it was not clear why PERSON, who is not a congressman, should have been targeted.
PERSON is a member of the opposition ORG and head of the regional ORG newspaper, which has its headquarters in GPE, once home to the world's most powerful cocaine cartel.
His newspaper recently printed an interview with PERSON, leader of a feared right-wing death squad, whose main target is leftist rebels and their supporters.
TIME after the blast an unknown group calling itself FAC issued a communique, a copy of which was obtained by ORG, declaring war on paramilitary groups. The group claimed to be made up of ex-guerrillas who had previously laid down their arms and accused the state of sponsoring paramilitary groups.
GPE was scarred by violence in DATE and DATE when drug lord ORG waged a successful war to force GPE's ORG to ban the extradition of NORP to GPE.
In DATE a bomb killed CARDINAL people in the city centre. Nobody claimed responsibility for that blast.",1
"The GPE stock market ended weaker in brisk trading on DATE, pulled down by investor profit-taking in every sector except for surging golds.
The ORG's key CARDINAL Composite Index dropped CARDINAL points to CARDINAL, losing ground for DATE.
Since DATE the CARDINAL index has fallen CARDINAL points or PERCENT.
""The market is a little shaky right now, and I imagine there's some people taking profits,"" said ORG analyst PERSON. Market players sold stocks to reap profits after big gains DATE.
Trading was brisk with CARDINAL shares changing hands worth MONEY.
""Another CARDINAL of those middle-cycle corrections,"" said ORG senior vice-president PERSON. ""I expect this to be short-lived.""
Ketchen said he expected GPE to continue to rise since investors have nowhere to turn. Fixed income markets generally provide lower returns than equities, especially since NORP interest rates have fallen dramatically DATE.
The important gold sector rose PERCENT DATE, which prevented a further decline in the index. The other CARDINAL sub-indices were led lower by conglomerates, media, transports and banks.
Declining issues beat out advancing ones CARDINAL to CARDINAL while CARDINAL were left unchanged.
Among the active stocks were ORG and ORG PERSON jumped C$MONEY to C$MONEY on CARDINAL shares.
ORG said DATE that it and PERSON have made some progress on an ownership deal over ORG huge Busang gold discovery in GPE. The NORP government, which advised a joint venture between the CARDINAL, has not yet extended DATE's deadline.
PERSON stock rose MONEYMONEY.
ORG fell MONEYMONEY in brisk dealings after news that delays in testing software would stall the roll-out of a personal communications network for ORG. Officials said ORG would not sustain a material financial impact from the delay.
ORG fell MONEY C$MONEY. ORG said it would reduce inventory levels but PERSON said it would not affect inventories of its flagship hypertension drug PERSON.","GPE stocks closed on a firmer note on DATE, boosted by a party in the bond market and strength in the heavily weighted banking and gold sectors.
ORG key CARDINAL Composite Index rose CARDINAL points to reach CARDINAL, with CARDINAL shares traded worth MONEY (MONEY).
NORP markets surged after the release of the GPE DATE jobless rate. It edged up to PERCENT from CARDINAL, providing indications that the job market has not tightened enough for employers to bid up wages and that ORG may not raise interest rates.
Bonds rallied dropping yields, so NORP investors fled to the high-yielding GPE stock market.
""It's acting on any piece of news,"" said GPE-based strategist PERSON.
Advances inched ahead of declines CARDINAL to CARDINAL while another CARDINAL traded flat.
Of GPE's CARDINAL sub-indices, banks rose the most, adding PERCENT to hit a new high of CARDINAL points. Other strong groups were consumer products, golds and base metals.
The weaker side included conglomerates, oils and pipelines, which kept GPE from jumping as high as Wall Street. The Dow Jones Industrial Average soared CARDINAL points to CARDINAL.
Over the course of DATE GPE's stock exchange retraced its steps from a new lifetime high of CARDINAL points on DATE to DATE's close.
Among active issues, food services firm ORG class A rose CARDINAL to CARDINAL on CARDINAL shares after announcing positive DATE results DATE.
ORG shares lost CARDINAL their value, falling CARDINAL to CARDINAL after reporting lower than DATE earnings DATE. Net income for DATE plunged PERCENT to C$MONEY ($MONEY).
ORG, the nation's largest, rose CARDINAL to CARDINAL on CARDINAL shares. Shares in ORG, the ORDINAL biggest, gained CARDINAL to CARDINAL.",1
"All-cargo airline ORG is to take delivery of its ORDINAL ORG PRODUCT series aircraft at GPE PERSON airport on DATE, an airline statement said.
The handover of the aircraft fresh from a 'C' check at ORG brings the number of B747s in the ORG fleet to CARDINAL, it added.
The carrier's chief executive officier, PERSON said in the statement that ORG's fleet will increase by CARDINAL 747's each year over DATE. The next PRODUCT is scheduled for delivery in DATE, he added.
Industry observers say ORG has a reputation for being a low cost airline using ORDINAL generation former passenger PRODUCT converted to carry QUANTITY of cargo.
The GPE based carrier said it is anticipating a ""significant jump"" in its NORP operations if ORG finalises a ""tentative"" decision awarding ORG the new ORG all-cargo route.
ORG said ORG favourable evaluation was partly due to its proposal to increase using GPE, GPE as a hub to trans-load traffic between LOC, LOC, LOC and the GPE
""The final award of the GPE route will mark the culmination of a DATE strategy by ORG to create an effective global network of operations. As we extend our geographic reach, we enhance our competitiveness by giving our customers the market access and route flexibility they need,"" PERSON added.
--Air Cargo PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017","ORG (BAWC) is to employ a ORDINAL DATE freighter between GPE and GPE from DATE, ORG's regional cargo manager PERSON, PERSON said.
""We will definitely be moving forward with a ORDINAL freighter. We are very bullish about the prospects for GPE and NORP economic growth. There's definitely a growing market here and DATE handover from a cargo point of view is immaterial. Other concerns such as GPE-NORP trade relations have a much greater impact,"" PERSON told ORG in an interview at the NORP flag carrier's GPE regional headquarters.
ORG currently flies CARDINAL ORG PRODUCT freighters a week between GPE and PERSON which are wet leased from ORG GPE-based ORG uses converted passenger 747's to fly for several major airlines on aircraft, crew, maintenance and insurance (ORG) long term, wet-lease contracts which ORG says it is happy to continue because no capital costs are incurred.
The cargo executive said statistics proved how strong the GPE market is for ORG. PERSON said statistics of ORG (ORG) carriers in LOC showed BAWC enjoyed an PERCENT increase in market share DATE measured by TIME (FTK). The traffic average for ORG carriers, which included ORG and ORG, both to and from the region was MONEY, he said.
He also said freight tonnage from GPE to ORG's world-wide network in DATE of DATE DATE increased by MONEY.
""That's a pretty dramatic increase which is indicative of the market's strength,"" PERSON said. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017",1
"ORG soared and posted its ORDINAL record close of DATE on DATE, driven by excitement in interest-sensitive issues and conglomerates.
The key TSE 300 Composite Index rocketed CARDINAL points to close at CARDINAL points on CARDINAL shares.
The value of shares traded on GPE's largest equity exchange was the ORDINAL-ever highest at MONEY (MONEY).
GPE reached its highest value traded in DATE in DATE, the exchange said.
GPE is ""a market that's generally under-owned in LOC,"" said chief investment strategist PERSON of ORGamp; ORG
NORP bank stocks have benefitted from foreign interest, especially after GPE brokerage ORG upgraded ORG and ORG DATE.
""The multiple revision that has taken place is not pushing the (banking) group into untenable territory, rather it is a valuation range that the NORP banks deserve, relative to their peers in the GPE,"" Best said.
In DATE's action, all of GPE's CARDINAL sub-indices surged higher except for gold issues, which fell on slipping bullion prices.
The conglomerate group gained the most, adding PERCENT. It was followed by consumer products, banks and transports.
Banks and interest-sensitive issues were among DATE's most heavily traded stocks.
ORG, GPE's ORDINAL largest bank, jumped MONEYMONEY on CARDINAL shares while smaller ORG rose C$MONEY to C$MONEY.
Another hot stock was GPE's largest publicly traded firm ORG, which gained MONEY.","Several large-capitalization NORP stocks could benefit, while others may be hurt when ORG changes rules governing control blocks in its key CARDINAL Composite Index on DATE.
Stocks such as PERSON, funeral home operator ORG and energy firm ORG should get snapped up by fund managers when the rules change, analysts said.
""Index funds, which try to match the weighting of the index, are going to have to scramble to buy X percent more ORG shares...by DATE,"" said an analyst who declined to be identified.
ORG, which handles PERCENT of GPE's equity trading, will increase the relative weighting of CARDINAL stocks on DATE by raising the level of control blocks to PERCENT from PERCENT.
The change will take effect at the start of trading on DATE.
Relative weighting describes the impact a stock or sub-group has on the overall TSE 300 Composite Index.
A control block is a group of shares owned by a single entity. Control blocks are not considered part of a stock's weighting because these shares cannot freely trade in the market.
Under the new rules, the federal government's PERCENT holding in ORG will be included in the company's overall float. ORG will therefore see its weighting rise to PERCENT from PERCENT.
The ORG is changing the definition of a control block to comply with ORG reporting rules, said PERSON, director of derivative markets management.
ORG, one of GPE's biggest pension fund managers, will need to make some changes, said PERSON, manager of quantitative products.
Teachers' has MONEY in assets with a ORDINAL of its money in NORP equities.
""I cannot go into specific numbers or anything like that, but in essence we will have to, to some extent, adjust positions,"" PERSON said.
PERSON will likely be one of the stocks snapped up, analysts said.
PERSON, which is PERCENT owned by ORG, will now be weighted based on PERCENT of its shares from PERCENT. As a result, the world's ORDINAL largest gold producer will see its relative weighting in the TSE PRODUCT increase to PERCENT from PERCENT.
Loewen's weighting will jump to PERCENT from PERCENT, after a control block held by chief executive PERSON and his wife is included.
Ontario Municipal Employees Retirement Services (OMERS) said it expected the control block changes to have little impact on its funds.
""You have to remember that the actual changes relative to the market overall are quite small,"" said PERSON, senior vice-president of OMERS' investment division.
The list of CARDINAL affected stocks also includes gold producer PERSON, ORG, publisher ORG, energy firm ORG and ORG
Others are ORG, ORG, ORG and ORG, ORG, PERSON, ORG, ORG and ORG and ORG",1
"GPE said on DATE its jailing of leading dissident PERSON for DATE was not a human rights issue but an ordinary legal matter that would not hurt GPE's sensitive relationship with GPE.
A NORP court on DATE took TIME to condemn former student leader PERSON for plotting against the government, in a verdict that prompted quick expressions of deep concern from GPE.
ORG spokesman PERSON said the trial would not cause further damage to cross-Pacific ties, long sorely tested by disputes over GPE's human rights record.
""The case of PERSON has nothing to do with the issue of human rights,"" Shen told a news briefing. ""I don't think the case of PERSON will have any effect on NORP relations.""
The Beijing Number One Intermediate People's Court sentenced ORG, DATE, to DATE in prison and stripped him of his political rights for a further DATE, after a brief hearing hailed by state media as a model of fairness.
International human right activists rushed to condemn the trial as a sham and the verdict as a travesty, while ORG's family said justice had not been served and vowed to appeal.
""PERSON trial was a parody of justice,"" rights watchdog ORG said in a statement. ""It is clear that the verdict and sentence against him had been decided in advance.""
Foreign reporters had been barred from the trial and the speed with which the official ORG released a lengthy interview with the chief judge afterwards showed the report had been prepared in advance, ORG said.
Police posted outside PERSON home in western GPE blocked reporters from meeting his family, who plan to appeal as soon as they receive official notification of the verdict.
CARDINAL policemen had visited the family on DATE TIME and others continued to keep constant watch, said the dissident's mother PERSON, a DATE museum researcher who attended his trial as CARDINAL of CARDINAL defence lawyers.
""Wherever I go, they go,"" she said by telephone.
NORP governments expressed dismay at the severity of the sentence imposed on a dissident renowned abroad for his role as a leader of the DATE pro-democracy demonstrations in GPE's FAC that were crushed by the army.
PERSON, who once promoted free debate on the campus of ORG, had already served DATE in prison for his role in the DATE protests. He returned to political activism after his release, before vanishing into detention in DATE.
GPE officials greeted the verdict against ORG with expressions of concern and high praise for the young dissident, hailing him as one of GPE's premier voices for human rights.
""We are deeply concerned by the sentence that has been given to PERSON,"" ORG spokesman PERSON said.
""We urge the NORP authorities to show clemency to this courageous man, whose championing of democratic values has gained him deserved international recognition,"" said ORG spokesman PERSON.
NORP spokesman PERSON said ORG's conviction was purely a domestic legal affair.
""The trial of PERSON is entirely a NORP legal procedure carried out in accordance with the law,"" he said. ""It has no connection with human rights or other issues.""
NORP-U.S. ties have long been strained by disputes over human rights, trade, copyright theft in GPE and GPE, but both sides say tensions have eased in DATE after a series of high-level meetings.","Acknowledging its failure to attract GPE consumers, ORG said it would disband its family-oriented Wow! online service and plans to defend its business and technical customer base.
The world's ORDINAL-largest online service also said it would accelerate the way it expenses customer marketing costs and that it was taking a MONEY charge in DATE for previously incurred subscriber acquisition costs.
Instead, it said it would pursue higher margin businesses, including international consumer markets, such as LOC.  
""For ORG, this represents a strategic retreat back to its basics,"" said PERSON, a veteran analyst of the online industry at ORG in GPE, GPE
""CompuServe will never contend for the King's mantle among the online service/Internet service providers in LOC again,"" he declared.
CompuServe stock fell CARDINAL, to CARDINAL, in early trading. H&R ORG, which DATE suspended plans to spin off its remaining PERCENT stake in CompuServe to shareholders, fell CARDINAL, to CARDINAL.  
TIME, H&R had reported a substantial loss for DATE, citing ORG's turmoil, and said it planned to go ahead with a cut in its DATE dividend payment to $MONEY per share from $MONEY previously.
In its own report, ORG said it lost $MONEY per share for DATE, after charges for exiting the Wow! business and other accounting changes. This compared to a $MONEY a share profit in DATE.
Disbanding Wow! resulted in an after-tax charge of MONEY, or $MONEY a share, and amortization of prior marketing costs led to the charge of MONEY, or $MONEY a share.  
""CompuServe's core users have always appreciated that service most for its independent forums and bulletin boards. They don't have any other place in cyberspace to get those services,"" PERSON said.
CompuServe officials stressed that no new layoffs would result from the latest moves. Wow!'s CARDINAL employees have already been absorbed into ORG, they said. The company's total headcount stands at CARDINAL worldwide.
In a telephone interview, ORG spokesman PERSON maintained that while his company was abandoning further mass marketing efforts aimed at GPE consumers, ""If you are currently a subscriber, you will not notice a change.""  
Nontheless, the GPE, GPE-based company said it would focus its efforts and investments going forward on business and professional markets, its traditional selling point.
Besides defending its core online services customer base, they said ORG will focus on other profitable operations like its network systems infrastructure unit, which generates PERCENT of total revenues.
In disbanding its Wow! service, the company blamed new market entrants, or Internet service providers, pricing competition and the high costs of consumer marketing.
The company announced plans to launch DATE a new ""CompuServe for Business"" serivce, an enhanced version of its core ORG with a new software interface and added content from ""CARDINAL"" of information providers.  
Despite a series of missteps in GPE, growth remains robust overseas, where ORG's brand is the best recognized name among online and Internet access providers.
Conway said ORG service has nearly doubled in its number of subscribers in LOC during DATE, rising to CARDINAL from CARDINAL. ""It's a growing market for these services, and we outpaced the market,"" he said.
PERCENT of ORG's NORP customers are for business, professional and technical users, while PERCENT fall in the consumer category, ORG said.
That's roughly the inverse of LOC, where PERCENT of ORG's main service are consumers.
The CARDINAL customers represent the bulk of ORG's international base, which totaled CARDINAL at DATE.
The Wow! service had been introduced DATE to much fanfare, but failed to get off the ground.
CompuServe Vice President PERSON, the man in charge of developing the Wow! service, promised at the time Wow! was lauched to carpet bomb consumers with free software disks promoting the new service.
""They'll be falling out of cereal boxes,"" he had vowed at the time.
-- GPE newsdesk, CARDINAL-859-1736",0
"GPE retailers reported overall sales near plan for DATE DATE, but results varied widely by store and sector with department stores appearing to take some market share from specialty stores.
""The major retailers continue to gain market share,"" said PERSON, analyst with ORG/ORG ""Even within the ORG report, they talk about the electronics area being one of the stronger areas"" while that area was weak for retailers overall.""  
WORK_OF_ART was one of the better performers, analysts said. The PERSON, Ill.-based retailer said domestic same-store sales rose PERCENT.
ORG chairman PERSON told ORG that gross margins are very favorable for DATE and DATE.
ORG stock was up CARDINAL at CARDINAL DATE. Other gainers included ORG, up CARDINAL at CARDINAL, ORG, up CARDINAL at CARDINAL, ORG up CARDINAL at CARDINAL and ORG up CARDINAL at CARDINAL.","ORG (ORG) said on DATE it would change its methodology for calculating industrial production, to bring it in line with western standards.
ORG Chairman PERSON said the change, which updates the old methodology introduced in DATE under communist planning, would take effect in DATE.
The new methodology excludes multiple calculation of semi-finished products, resources, and other materials and commodities, which were included in output data at every stage under the old method measuring the gross value of all goods produced, the ORG said.
The new index will measure output changes by units, weight or other measurements, of the total of CARDINAL products out of CARDINAL product groups consisting of CARDINAL or more similar products.
The product groups's output indices will be placed in sectors, using weighting equal to their weight in the respective industrial sector.
The overall index will be calculated from weighted changes in the sectoral indices.
Outrata said the old system of measuring ""gross production"", or ""goods production"" was suited for the management of a planned economy as it allowed to measure the total summ of production and compare it with state plans.
Construction output data will be adjusted to the new methodology at DATE, ORG added.
Preliminary DATE data will be released on DATE after DATE being examined.
Outrata also said the data would include DATE adjusted figures and data adjusted if the number of working days in the period differed from previously measured periods.
He added the ORG would gradually, throughout DATE, start releasing DATE adjusted and pro-rated figures for most data on DATE as the raw figures.
 MONTH (DATE)	REAL ORG. OUTPUT		REAL ORG. ORG
		   UNDER CURRENT METHOD (YR/YR)   UNDER NEW METHOD
 Sept (pct)	   +6.9				 +7.8
 August		 +5.9				 +0.9
 DATE		  +15.7				+24.5
 DATE		   +1.5				 +2.2
 May		    +6.0				 +1.8
 April		 +12.8				 +6.9
 March		  +4.5				 +2.1
 Feb		   +13.4				+12.2
 Jan		   +12.0				 +7.8
Note. Current methodology examines companies with CARDINAL employees and includes estimates for smaller firms. The new methodology includes data from CARDINAL firms with CARDINAL or more employees. As of DATE, it will include data form firms with CARDINAL or more workers.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"NORP dissident PERSON's flight to GPE via GPE may be the last great escape of its kind, as GPE is sure to try to shut down the route DATE, activists and analysts said on DATE.
Since GPE sent tanks into FAC in DATE to put down a student-led protest movement, CARDINAL of NORP dissidents have fled through GPE in a secretive operation codenamed ORG, activists said.
PERSON, now in GPE, has not appeared in public yet, and it has not been confirmed that it was PERSON that helped him flee from the south GPE province of GPE DATE.
But the underground escape route is bound to be sealed off when GPE becomes a part of GPE DATE, ending a century and a half of NORP colonial rule.
""GPE will have sovereignty here and technically it could prevent even a dissident who was given asylum by a foreign consulate here from actually leaving the territory,"" PERSON, director of ORG, told ORG.
""So I expect that it's virtually going to come to DATE.""
GPE on DATE loudly signalled its stance on future dissident tangles with GPE. It branded ORG's escape an illegal frontier crossing and demanded that he and his abettors be punished for breaking the law.
""The judicial authorities are currently pursuing the legal responsibilities of PERSON and the plotters,"" foreign ministry spokesman PERSON said in GPE.
Very few in GPE have any illusions that the territory will continue to be a conduit for dissidents to get out, or as a centre of pro-democracy anti-communist activism after DATE.
""GPE will be subject to more pressure from the central government. Therefore it will be more difficult for dissidents to use GPE as an escape route,"" said PERSON, a professor at ORG.
And those who help NORP dissidents may have a tough time. ""I think they will be liable to some kind of harassment and otherwise legal punishment,"" PERSON said.
PERSON, a legislator and key figure in GPE in Support of Patriotic Democratic Movements in GPE, an organisation that supports fleeing dissidents, said his group was likely to face trouble from GPE DATE.
""A NORP official made a statement DATE. He said if people participated in helping political dissidents escape from GPE, GPE will do something... My guess is some kind of punishment,"" PERSON said.
But his group was pressing on with help for dissidents who are now exiled in GPE and seeking asylum in the West.
""We will give them assistance, for example we will arrange some places for them to live, contact the GPE government and foreign consulates, and arrange money for their family.""
GPE's communist rulers have made clear they will not allow GPE to become a centre of subversion.
GPE's GPE policy boss PERSON said DATE GPE would not tolerate anti-constitutional preaching in GPE.
PRODUCT sees a bleak future for the NORP dissidents in exile here after the handover and says they should all get out.
The CARDINAL foremost candidates for GPE post-colonial leadership, who are now campaigning for support, made clear on DATE they would not upset GPE by defending dissidents.
""There will be laws in GPE and it is up to the chief executive to implement and obey the law... Whatever one does, it must be in the interests of of GPE people,"" said shipping tycoon PERSON, considered GPE's favourite candidate.","An official inquiry into GPE's financial system said on DATE it would look at recommending a relaxation of rules that currently stop big bank mergers and takeovers by foreign banks.
The inquiry, which was established by the conservative government after its DATE election, outlined various options for reform in a wide-ranging discussion paper and was careful not to state its own preferences.  
But it noted majority industry support for abolishing the rules stopping mergers and foreign bank takeovers and said it preferred an anti-monopolies system which treated the banking sector the same way as every other sector.
Until now the government has had the final say on bank mergers, rather than just the anti-monopolies watchdog.
Analysts said the tone of the discussion paper reinforced widespread expectations that the inquiry's final report would recommend allowing bank mergers and new foreign investment.  
""It hasn't changed perceptions that ultimately the inquiry will make recommendations that allow the ORG (Australian Competition and Consumer Commission) to permit bank mergers which haven't been permitted before,"" said ORG PERSON analyst PERSON.
Shares in the big banks seen vulnerable to takeover have rallied since DATE in expectation that a conservative government would allow the mergers.
Possible takeover targets include the GPE and ORG and ORG  
ORG, GPE's largest and most profitable bank, is seen as the main predator.
A policy set by the former ORG government and known as the 'CARDINAL pillars' policy has stopped mergers or foreign takeovers of GPE's CARDINAL largest banks and its CARDINAL largest insurance and superannuation groups.
The conservative coalition government has said this policy would remain in place until it has considered the PERSON inquiry's recommendations, due to be delivered by DATE.  
The inquiry, headed by prominent businessman PERSON, said in its CARDINAL page paper any reforms should increase the efficiency of GPE's banks to compete globally.
It also said new technology would transform the sector.
Big banks such as ORG have used the same reasoning when lobbying for relaxed merger rules.
These banks have said big bank mergers are necessary to compete globally and new technology such as the Internet and global competition meant such mergers would not cut competition.  
""The Inquiry sees as its key goal the identification of means to increase the efficiency of the NORP financial system, without compromising its safety and peformance,"" the paper said.
Increased efficiency was needed to complete globally, to obtain the benefits of new technology and to increase investment returns, the paper said.
It said it would consider, ""better accommodating financial conglomerates,"" and, ""relaxing some of the ownership restrictions on financial institutuions"".  
The inquiry said it was also wanted any reforms to increase competition and asked in that context ""whether there are any public policy grounds for restrictions on foreign acquisitions in the banking or insurance industries?""
-- ORG CARDINAL-2 9373-1812",0
"GPE entered new talks with GPE on GPE future on DATE, admitting it could give no consular protection to GPE people holding special NORP passports after the NORP flag is hoisted in DATE.
Senior diplomats met to argue over handover details against a backdrop of disputes over a subversion law drafted by GPE and NORP troop deployments in the NORP colony.
The agenda for the DATE meeting of ORG (ORG) was confidential and it was not clear what, if any, agreements would be produced from the latest bargaining round.
But NORP chief negotiator ORG said a great effort was needed to surmount a raft of problems before the capitalist territory of CARDINAL people is handed over in DATE.
""The subjects that we all know about...are questions such as continuity of law in GPE, questions to do with right of abode, questions to to do with the international network of agreements that GPE already has and which will be agreed to continue beyond DATE,"" Davies said.
His NORP counterpart PERSON served notice that GPE, infuriated by the colonial government's liberal anti-subversion law DATE, would not brook any more major unilateral changes in GPE legal set-up by GPE before DATE.
""During the period of DATE, we do not wish to see new troubles or new obstacles, because the remaining issues are more than enough to deal with,"" PERSON said.
""But we are still very confident, so long as the CARDINAL sides sincerely cooperate with each other...we will solve all issues which are related to the transfer of GPE in a timely and successful manner,"" PERSON said.
GPE is to become an autonomous region of GPE at DATE, ending over DATE of NORP colonial rule, under a treaty in which GPE has vowed to let it keep its freewheeling capitalist system for DATE.
In the latest of many twists in the transition, GPE's Senior Trade Commissioner, PERSON, said on DATE GPE could not give consular protection to the CARDINAL GPE people holding special NORP passports.
GPE in DATE granted CARDINAL heads of households in GPE the right to a full NORP passport in a concession to widespread demands for passports for all residents following GPE's DATE crackdown on pro-democracy demonstrators.
PERSON said GPE regarded these people as holders of dual citizenship and would not recognise NORP consular protection for them on NORP soil.
""The NORP have made it very clear that they regard holders of ORG passports, when in GPE and when in GPE, as NORP citizens,"" he said.
NORP officials have also warned there could be a stampede home in DATE by GPE people with domiciles abroad if GPE insists on them being present in person on handover day in order to keep their GPE right of abode.
GPE's liberal bill on subversion, designed to exclude GPE-style jailings of dissidents, goes to the GPE legislature later on DATE, and its fate is unpredictable.
GPE condemned the move DATE and said such a law was the sole prerogative of the post-handover government to enact.
DATE, NORP experts said they had failed to reach agreement with GPE in the ORG on GPE's demand to send an advance party of ORG (PLA) troops to GPE before the handover.
The quarrel appears to be over the size of the unit, diplomats say.
GPE people have bitter memories of the ORG's bloody crackdown on pro-democracy students in GPE in DATE.","Bitter infighting broke out among NORP NORP on DATE only a month before elections in which the opposition party hopes to humiliate conservative Prime Minister PERSON.
Party chairman PERSON denied there was any split in his party, which is running neck and neck with ORG's ORG (ORG) before ORG elections DATE.
But almost in the same breath he threatened to resign DATE unless a party deputy chairman who broke ranks to vote with the ORG government DATE went ORDINAL.
Adding to his woes, a NORP deputy threatened to leave the parliamentary party in a row with an ex-communist colleague, a move which could tip the balance of parliamentary power between the minority government and opposition.
Klaus, whose CARDINAL-party coalition lost its parliamentary majority in lower house elections DATE, has seemed under heavy pressure with opinion polls showing the NORP level or slightly ahead of his ODS.
But just as the NORP seemed in with a good chance of beating the ODS for the ORDINAL time since the restoration of democracy, strife flared in opposition ranks.
DATE PERSON, the chairman of the parliamentary budget committee, led a revolt by CARDINAL Social NORP deputies which allowed the DATE state budget to pass its ORDINAL reading.
Tempers flared on DATE after ORG threatened to resign from the parliamentary party unless another NORP deputy, ex-communist Michal Kraus, quit the budget committee and a parliamentary commission investigating a bank collapse.
Despite the appearance of disarray in NORP ranks, ORG played down ORG's threat. ""There is no real split. I do not want to overestimate the importance of his proclamation in this case,"" he told a news conference.
""A split would happen only if a body of opinion formed which was sharply different in questions of principle from the opinion of the party leadership,"" he said.
But then he attacked party deputy chairman PERSON, CARDINAL of the ORG rebels. ""There should not be a person in the leadership who shows himself up by talking about disputes in the party,"" said ORG.
Asked if he would resign if Machovec remained vice chairman after a party congress scheduled for DATE, ORG said: ""Yes. It is true, I can confirm that.""
Kraus, a communist deputy before the DATE collapse of LOC, accused the CARDINAL budget rebels of being ""corrupted politically"" by the ORG coalition.
Wagner told the DATE FAC he would leave the ORG parliamentary party or ""club"" if Kraus did not go. Machovec was quoted by local media as saying that if PERSON left, there would be a serious party split.
This could change the balance of power in the CARDINAL-seat lower house where the NORP, along with the little-reformed NORP and the far-right NORP, have CARDINAL votes to the government's CARDINAL.
The ORG itself has few powers. But the elections on DATE, with a ORDINAL round runoff DATE, have become a test of public opinion which could indicate whether early lower house elections are likely.
Analysts say that if the NORP perform strongly, ORG might be tempted to bring down the coalition to force lower house polls in which his party might overtake ORG's ODS. But that depends on ORG being able to maintain discipline.
So far voters do not seem concerned. A poll taken by the ORG agency before and after the budget vote showed the NORP with PERCENT support ahead of ODS with CARDINAL.
In the lower house elections on DATE, ORG won PERCENT and the NORP.",0
"The debate over reforming GPE's financial services sector, a top priority for ORG and the PERSON administration, began in earnest DATE.
As major industry representatives sat down at a ORG subcommitee hearing on CARDINAL pending reform bills, word came that ORG Chairman PERSON, ORG, had introduced his own version of comprehensive reform.
The bills introduced so far, as well as an administration proposal expected DATE, begin with the same premise: the time is right to scrap the PERSON-Steagall Act enacted during the EVENT to separate banking from other financial activities like securities underwriting and insurance.
Most in ORG agree. And, for the ORDINAL time, most financial service company seem to agree as well.
At the hearing of ORG, representatives of banking, insurance, securities and mutual funds all agreed ORG should allow a single entity to span all financial services businesses.
But, as subcommittee PERSON, a GPE NORP, observed, ""The devil is in the details.""
Those who had opposed tearing down PERSON-Steagall, mainly insurance and securities companies, have seen federal courts and regulators slowly roll back the law -- but only for banks.
DATE, ORG freed banks from many state insurance restrictions.
ORG also decided to allow banks to derive PERCENT of a subsidiary's revenue from securities activity, an increase from the previous limit of PERCENT. In DATE, the comptroller of the currency said he would start allowing national banks to enter a host of non-banking businesses.
Banks got substantial new authority, but others got nothing.
""For too long, important policy issues have been addressed by regulatory agencies or the courts rather than by ORG,"" ORG Vice President PERSON testified at the hearing. Albertalli spoke on behalf of ORG, which had opposed mixing banks and insurance.
All the proposals before ORG would level the playing field to some degree and recognise the changes that have shaken modern finance.
""This banking reform legislation will reform the current patchwork of laws and allow the market to operate freely within the financial services industry,"" ORG said as he introduced his bill.
While a broad consensus has been achieved, several important issues remain to be addressed. Perhaps the most controversial is the extent to which non-financial companies should be allowed to own or be owned by financial companies.
Under existing law, mutual funds, insurance companies and savings and loans can combine with so-called commercial firms while banks cannot.
Smaller banks and consumer groups staunchly oppose mixing the CARDINAL, which would be permitted under the ORG bill, limited under the PERSON bill and forbidden under a bill introduced by ORG Banking Chairman PERSON, GPE.
PERSON of ORG laid out the opposition. Citing former ORG Chairman PERSON, ORG said such mergers could ""distort lending decisions, be anticompetitive and threaten the safety and soundness of the banking system.
Banks said they could live with PERSON's compromise approach, but were undecided about the ORG plan. Others heartily endorsed the unlimited approach.
Mutual funds have been ""knee-deep in affiliations"" and ""they've never proved a problem in DATE,"" said PERSON, president of ORG.
Differences also remain regarding regulation of new, diversified financial services companies, although most favoured an approach having various, specialised agencies regulate the relevent portion of each firm's activities.","The Internet continued to grow in leaps and bounds DATE while online services found it much harder to add new customers, a new survey says.
CARDINAL adults in GPE had used the Internet, according to the poll by PERSON and ORG conducted in DATE, up from CARDINAL at DATE.
""Although the number of people who use computers has fluctuated around CARDINAL of the adult population, the number of adult NORP using computers for cyber-activities is growing,"" said PERSON, chairman of the polling organisation.
While online services like ORG and ORG could lay claim to CARDINAL subscribers, that was the same level PERSON found back in DATE.
Online services, which provide private online content in addition to Internet access, have faced greater competition DATE from companies like ORG, which provide cheaper Internet-only access.
Businesses, which are looking to the Internet as a potential source of new revenue, are intensely interested in figures on its usage. Differing surveys have come up with widely varying numbers.
The PERSON poll found that, although more people are getting wired, they are on average spending less time in cyberspace.
Home users said they were online TIME a week, down from TIME a week in an DATE survey. Business and other users said they were online for TIME, down from TIME in DATE.
The poll also reinforced findings of earlier studies showing that more educated people were more likely to use computers and access the Internet.
People with college and graduate degrees were twice as likely to use computers and CARDINAL times more likely to access the Internet as people who only graduated from high school, the poll found.
The poll's results were based on a telephone survey of CARDINAL adults at DATE and have a margin of error of plus or CARDINAL percentage points, according to PERSON.",1
"GPE said on DATE a visit by GPE Secretary of ORG PERSON could help keep NORP-GPE ties on track but warned differences remained on such sensitive issues as trade and human rights.
PERSON, the highest level GPE official to visit GPE for DATE, was scheduled to arrive in the NORP capital on DATE TIME for meetings intended to give a vital boost to long-strained NORP-U.S. ties.
""We hope this visit by PERSON to GPE can play a certain role in helping keep NORP-U.S. relations on track for healthy and stable development,"" NORP ORG spokesman PERSON told a news briefing.
While holding out the hope that ties could continue to grow warmer, PERSON also criticised GPE's policies on trade, NORP human rights and GPE arms sales to GPE.
GPE has sent GPE mixed signals in the run-up to PERSON's visit, combining conciliatory talk with tough rhetoric on a range of tricky diplomatic issues, but diplomats say both sides are keen to make the visit a success.
NORP-U.S. ties have long been rocked by disputes over trade, human rights, copyright piracy in GPE, arms proliferation and GPE, although both sides say tensions have eased recently.
Differences remained with GPE over trade issues, but these should not be solved by threats of economic force, PERSON said.
""There are differences and problems in NORP trade and sometimes conflicts; this is the result of increasing trade,"" he said.
""The CARDINAL sides should resolve possible differences and conflicts on a basis of mutual equality and by consultation rather than with unilateral actions or the imposition (of CARDINAL side's) views,"" he said.
GPE concerns over GPE's human rights record, long a major issue in ties, have been heightened by GPE's rejection DATE of former student leader and dissident PERSON appeal against his DATE sentence for subversion.
ORG's sentence was a heavy blow to GPE's struggling pro-democracy movement and was widely seen as a slap in the face for GPE, which has touted constructive engagement with GPE as the best way to boost NORP human rights.
Cases such as ORG's were not human rights issues and were judicial matters that had nothing to do with NORP relations, PERSON said.
GPE's DATE review of GPE's ORG (MFN) trade status, necessary to avoid heavy tariffs on NORP imports, was another unneccesary irritant, he said.
""The GPE review of GPE's ORG status DATE is inappropriate,"" he said. ""The settling of PRODUCT once and for all is already on the agenda.""
GPE has also been critical of NORP policies on weapons proliferation, but PERSON said GPE was the main offender, with arms sales to GPE's arch-rival GPE.
""Of the so-called weapons proliferation issues, the most sensitive and most important are GPE weapon sales to GPE,"" he said.
PERSON has come under pressure from members of ORG to raise GPE concerns over the future of human rights in GPE after it returns to GPE rule DATE but PERSON said such matters were not GPE's concern.
""GPE issues are totally GPE's internal affair,"" he said.","ORG expects to continue to expand revenues PERCENT per year, thanks to growing use by major pharmaceutical companies of outside research help and market share gains by the firm -- the world's ORDINAL-largest contract research concern.
""We can grow at the PERCENT rate over DATE and be able to handle it,"" said chief executive PERSON on DATE in remarks to investors at a Robinson-Humphrey investors conference here.
Later, in an interview with ORG, ORG said the GPE, Tenn.-based company estimates that drug and biotechnology companies spend MONEY DATE on research and development.
MONEY, or DATE, is outsourced to companies such as ORG and rivals, including the ORG unit of ORG and ORG ""DATE, PERCENT was outsourced. So it's been growing very rapidly,"" PERSON said.
Moreover, he said, R&D spending is growing PERCENT DATE and ORG is taking market share from smaller contract researchers. ""Of the additional dollars being spent, more is being shifted to us,"" he said.
ORG recently acquired ORG, of GPE, for MONEY. The acquisition was immediately accretive to earnings and effectively reduced ORG' tax rate thanks to NORP laws under which ORG pays no taxes, ORG said.
Without another major acquisition, ORG likely will stay for now in the ORDINAL-largest position in the contract research market, he said. Although he would not rule out another major deal, ORG said CARDINAL is not in the offing.
PERCENT of revenues for the company come from major drug companies, with biotech firms and medical device manufacturers making up the balance.
When such companies develop a new compound or device they hope may be marketable, they must test it through an extensive series of clinical trials. Animal subjects are ORDINAL used. Later human patients become involved. All tests have to be conducted under standards set out by ORG or other government regulators.
When launched in DATE, ORG handled portions of research work that had overflowed the capacities of drug and biotech firms. DATE, ORG said, ORG finds itself increasingly built into the R&D budgets of clients.
DATE, ORG for DATE reported profits of MONEY, or $MONEY per share, on revenues of MONEY. In DATE period, profits were $MONEY, or $MONEY per share, on revenues of MONEY.
Shares in the company closed up CARDINAL at CARDINAL on DATE.",0
"The sentencing of NORP dissident PERSON to DATE in prison in GPE on DATE sparked fears in GPE about curbs on freedoms when the territory reverts to GPE DATE.
GPE activists denounced the verdict, and a human rights group vowed to lobby for a resolution to be passed at ORG condemning GPE's human rights record.
A GPE court on DATE found the DATE former student leader PERSON guilty of the capital offence of conspiring to subvert the government.
PERSON, who faced a potential maximum penalty of death for the charge, was also stripped of political rights for DATE, a typical NORP punishment for critics of communist rule.
The verdict, at a trial lasting TIME, raised an outcry in the NORP colony, which returns to NORP rule in DATE.
""We worry that the NORP government (would) apply a similar standard in GPE,"" legislator PERSON of ORG said.
""Then the freedom of GPE will be limited and (people) will be charged if we openly criticise the NORP government.""
Pro-democracy activists who staged an TIME vigil in front of GPE's de facto embassy in GPE shouted slogans when they heard the news about PERSON on the radio.
PERSON, director of the GPE office of ORG, said the trial was extraordinarily short for what was deemed the most serious offence in GPE's criminal law.
""By any legal standards, DATE's trial of PERSON was a farce. Clearly, its sole purpose was to put PERSON behind bars for as long as possible with the minimum legal fuss and bother,"" WORK_OF_ART told ORG.
""What more evidence does the international community now need before it will wake up to the fact that (GPE) is not advancing towards a more liberal regime...but is becoming less tolerant of peaceful political opposition and absolutely determined to silence critics by any means possible?"" he said.
While GPE has been promised a high degree of autonomy for DATE under a NORP handover treaty, many doubt whether the freedoms now enjoyed will be preserved.
Munro said his organisation would lobby GPE and LOC to pass a resolution at ORG condemning the human rights situation in GPE.
GPE activists also planned a demonstration in front of GPE's mission on DATE night, and another on DATE.","Responding to a dispute with GPE, GPE said DATE it plans to develop its own satellite-TV industry rather than rely on GPE companies such as ORG to jump-start the business.
The announcement came TIME after ORG rejected for a ORDINAL time a bid by ORG and GPE-based ORG to beam TV programmes to GPE from CARDINAL satellites in NORP-authorised orbits.
The NORP satellites also would have beamed shows to NORP households via pizza-sized dishes. The satellites were to have been launched by ORG, a GPE-based satellite-communications company. It planned to lease space to both ORG and ORG, the No. CARDINAL GPE cable TV operator.
""My belief is that the time has come for us to proceed with a possible GPE-only solution and my hope is that there will be some companies that will be able to pursue that, including ORG,"" GPE's minister of industry PERSON told reporters in GPE.
Manley plans soon to invite NORP companies to bid for the ownership and operation of CARDINAL NORP satellites.
He told Telesat in a letter DATE he would revoke his ministry's support for the company to have access to the CARDINAL satellite slots, unless the ORG gave the needed green light.
The ORG, however, rejected the ORG and ORG requests by noting that the NORP government had not yet officially licensed the CARDINAL satellites. The ORG had issued the same decision TIME, prompting ORG and ORG in DATE to file emergency requests for ORG approval.
Lawyers and government officials said the basis of the dispute stems from the PERSON administration's objection to allowing a NORP satellite to beam programmes into GPE -- while GPE companies cannot enjoy the same rights to broadcast into GPE.
In DATE, administration officials urged the ORG to defer action on ORG and ORG's bid to offer direct broadcast satellite (DBS) services from the NORP orbital slots.
Officials from ORG office, ORG, ORG and ORG said in a letter to ORG Chairman PERSON that the requests ""raise foreign, trade or competition policy issues within the jurisdiction of ORG.""
They argued that NORP curbs discriminate against GPE programmers by requiring a minimum amount of NORP content in TV, cable and satellite-TV broadcasts. They asserted  that GPE maintains curbs on the use of NORP satellites to distribute phone and broadcast services to GPE.
In his letter to ORG, PERSON noted that GPE officials rejected proposals to allow the ORG-TelQuest venture to proceed, while not addressing the issue of GPE's content restrictions on programming.
""The NORP are going to insist on retaining their protectionist policies on content. And since the GPE will not accept those policies, the NORP are picking up their DBS marbles and going home,"" said PERSON, an attorney with ORGamp; PERSON.",0
"The effects of a strike by CARDINAL NORP autoworkers will continue to ripple through ORG operations even though a tentative deal was reached DATE after marathon talks.
ORG has told CARDINAL workers at its GPE, GPE, car assembly plant not to report to work when DATE begins on DATE, said company spokesman PERSON.
""There are still some problems out there in terms of having enough material to keep plants running,"" he said.
Negotiators for the company and ORG union settled disputes over the contracting out of work and reached a tentative agreement on a new contract, putting an end to the DATE strike.
In addition to the striking ORG members, ORG has idled CARDINAL workers at CARDINAL of assembly and parts plants in the GPE and GPE that depend on the NORP operations. That figure does not include workers such as the GPE employees whose scheduled shifts have yet to start.
If the deal is ratified DATE as expected and parts resume shipments, ORG said it could take until DATE before all of ORG's affected plants are operating at pre-strike levels.
CARDINAL analyst estimated the strike could end up costing the world's largest automaker CARDINAL units of straight-time production in LOC.
The calculation, by ORG in GPE, GPE, assumes that all of ORG's plants are back in operation by DATE, and does not include over-time production.
""There's still some operations that may go down that we may have not anticipated,"" said PERSON, managing director of ORG, an industry consulting firm. ""There's going to be some ebb and flow.""
ORG is expected to lose production of CARDINAL units in GPE, and CARDINAL units in GPE, Robinet said.
Of the CARDINAL units in GPE, PERCENT are ORG's popular full-size ORG pickup trucks, which are made at ORG's assembly complex in GPE, PERSON, he said.
ORG President PERSON told reporters during a press conference after the new pact was reached that ORG could restart the PRODUCT truck plant as soon as DATE night, after the deal is ratified.
Inventories of the trucks have been tight, and the sales effects will start showing up in the DATE sales numbers, analysts said.
Any market share losses to competitors, however, would be tempered by the fact that ORG is already running at maximum capacity for its new PRODUCT pickups, said PERSON, an analyst at ORG
ORG had sufficient inventories of cars that the strike is not expected to crimp those sales too much, analysts said.
Where ORG could be hurt most is in new product launches. Production of the new ORG was previously scheduled to start at the PRODUCT car plant on DATE. But the strike could push that back until the middle or end of November, Robinet said.
ORG's GPE, GPE, assembly plant will also be delayed another DATE in starting production of the new ORG PRODUCT and ORG Malibu cars, because of a parts shortage due to the strike, he said.
GPE, who believes ORG has lost production of CARDINAL units, estimated it will bring down the automaker's earnings by MONEY after taxes. A strike at CARDINAL GPE, GPE, brake plants in DATE cost ORG MONEY.
""It's not a major disaster,"" ORG said. ""It's not of the magnitude of ORG.""","ORG chairman PERSON said on DATE the NORP operator wanted to grow internationally in order to offset the impact of competition in GPE.
""We will not enjoy all the market growth in GPE,"" Bon told a news briefing.
DATE, ORG will lose its monopoly position entirely and both ORG and Bouygues have formed international alliances to take it on.
ORG officials said the group aimed to generate PERCENT of its sales abroad.
Bon, in GPE for the inauguration of the country's ORDINAL mobile telecommunications operator, PERSON, said ORG international policy was based on CARDINAL main goals.
ORDINAL, the group wanted to answer the international needs of its clients. This is mainly done through the ORG joint venture with ORG and ORG of GPE.
ORDINAL, the group wants to use its know-how in building modern infrastructure networks and is setting up such networks in LOC and GPE.
ORDINAL, the group is looking for ""new growth areas"" to compensate for the impact on sales of the new competition in GPE, ORG said.
Mobistar, in which ORG has a majority stake, is part of this policy. The NORP operator started DATE and has CARDINAL subscribers, aiming for a PERCENT market share in DATE.
France Telecom hopes to hear in DATE that a consortium it leads has won a ORG licence in GPE and the group is in negotiations with the government of GPE.
In GPE, ORG is operator of an analogue network but was excluded from getting a ORG digital licence. After a state visit by NORP President PERSON, the situation has improved for ORG, but negotiations are still continuing.
In GPE, France Telecom has no ambitions in mobile telecommunications, because of the presence of state-owned PRODUCT, which is run by ORG.
France Telecom is talking with ORG about co-operating in GPE, a fixed-line venture which is bidding for the network of the NORP railways.",0
"NORP oil and gas companies are being snapped up by foreign companies with an eye for undervalued stocks, but analysts say the sector faces a bright future with higher oil prices and a deregulated gas market.
During DATE, there has been MONEY (MONEY) worth of takeovers announced in GPE's shrinking oil and gas sector and another MONEY worth of asset sales as some non-oil and gas players quit the local market.
Local oil groups with low share prices and overseas assets have struck the eye of hungry foreign companies, analysts said.
""Overseas people appreciate the value of oil and gas assets, particularly in southeast LOC, but I don't think the market is fully valuing these assets through the share prices,"" Timothy Savage, an oil and gas analyst at PERSON, told ORG.
The MONEY tilt by GPE oil giant ORG for GPE-based ORG in DATE was the largest bid made DATE in the sector, while NORP oil producers are also showing an active interest in NORP oil firms.
Brisbane-based PRODUCT was taken over DATE by ORG of the GPE, while in DATE Premier PERSON has made a bid for ORG and ORG has made a offer for ORG
Most of the NORP oil groups that have attracted predator attention have been producers with oil assets offshore, said PERSON, an oil and gas analyst with ORG.
""It is no coincidence at all that the companies that have disappeared have been always companies that have endeavoured to build an overseas presence, and they have all without exception been taken over,"" PERSON told ORG.
However the rise in the oil price DATE had not been a reason for the corporate activity, analysts said. The main oil futures contract traded in GPE has risen PERCENT over DATE to MONEY a barrel.
""Takeovers have been a feature of this sector for DATE and it doesn't seem to matter if the oil price is up or down,"" PERSON said.
PERSON said oil companies making the bids have a double positive effect from the oil price rise with increased cash flow and a boost in share prices making it easier for companies to raise equity and debt.
Remaining potential targets in the local oil and gas sector were medium-sized groups like ORG and Petroz NL which have assets in the prospective LOC area.
The sector's largest listed companies, ORG, were unlikely bid targets, analysts said. (A$MONEY = $MONEY)","GPE banks will be able to significantly increase their securities underwriting activities under a rule adopted DATE by ORG, but that will only add pressure on ORG to overhaul the entire regulatory system, market participants said.
The ORG voted unanimously to allow so-called section CARDINAL subsidiaries of banks to derive PERCENT of their revenues from underwriting and dealing in securities such as stocks, corporate bonds and commercial paper.
The new rule takes effect in DATE, the ORG said.  
At the meeting, ORG governors called for ORG action to reform the DATE PERSON-Steagall Act and other laws separating banks from non-bank financial services industries.
""We hope that the next move will be up to the ORG in this whole area,"" ORG vice chair PERSON said.
""Legislation is needed but I think this is a constructive step and it is appropriate for us to interpret the existing legislation,"" Governor PERSON said.
While the PERSON-Steagall Act prohibits banks from engaging in non-bank activity, under section CARDINAL of the Act banks may affiliate with firms not ""engaged principally"" in such areas.  
The ORG said it currently authorizes CARDINAL bank subsidiaries to deal and underwrite securities, ranging from stocks and bonds to commercial paper and mortgage-backed securities.
Banks were already allowed to handle other sorts of financial instruments, including ORG securities and over-the-counter derivatives.
Both the ORG's action and an even broader move DATE by ORG will raise the pressure on ORG to scrap the PERSON-Steagall Act, according to PERSON, director of economic studies at ORG.  
In the past, banks led the charge to change the law because they wanted to get into other businesses, like selling insurance and underwriting. Insurance companies and securities firms generally opposed the banks, creating legislative gridlock.
Now, all industries will press for change, ORG said. ""The tables have been turned,"" he said. ""But it's not a CARDINAL-way street. Other industries will want to level the playing field.""
Banking industry representatives said they were elated by the ORG vote.  
""This is a tremendous boost for banks that already underwrite securities and an incentive for banks considering this business,"" ORG managing director PERSON said.
""By lifting the PERCENT revenue cap to PERCENT for LAW ineligible securities, the ORG has begun chipping away at the antiquated barriers handicapping banks for DATE,"" PERSON added.
Securities industry groups had written to the ORG strongly opposing the proposal and restated their position after the vote.  
""It's as if Santa Clause delivered all the gifts to CARDINAL house in the neighborhood,"" PERSON, senior vice president for ORG, said.
Judge also called for ORG to act. ""Nothing could benefit consumers and our economy more than a modernization of federal laws governing the financial services industry,"" he said.
((CARDINAL-898-8312))",0
"Before the huge nickel, copper and cobalt deposits at GPE's Bay were discovered DATE, the mainly aboriginal population of Nain did not know much about mining.
But as CARDINAL of prospectors flooded their snug coastal village in the northern NORP province of GPE, the inhabitants figured they had better learn fast.
""It fell on us like a ton of bricks in DATE,"" said PERSON, president of ORG, which represents the NORP -- or PERSON -- who populate the frozen territory, which is on the NORP mainland but is part of the LOC province of GPE.
""There was panic. We felt completely ignored. So we educated ourselves in terms of the mining industry,"" PERSON told ORG.
Now, even people with little education can keep up a steady conversation about massive sulphides and tailing ponds.
But that does not mean everybody sees things the same way as PERSON, the GPE-based nickel giant that owns the deposit. The tight-knit community of CARDINAL is split over whether mining will help their remote town.
PERSON, a DATE NORP from GPE, sees development as a chance for a good job. He has worked his way up to general labourer from janitor at the GPE's LOC.
Steady work and decent pay are hard to come by in the poor and troubled northern coast of GPE, especially if, like PERSON, you only have DATE of schooling.
""I got suspended (from school) and never went back,"" he said. Now he wants to upgrade his skills to land a permanent job with ORG once it takes over management of operations in DATE. ""That would be excellent.""
Igloliorte has improved his standard of living, is able to support his girlfriend and his DATE son and buy spare parts for his snowmobile.
He said he trusts ORG to be responsible as it develops the huge metals deposit that sits hidden underneath the moss which caribou graze on.
COMMUNITY FEARS OF WHAT MINING WILL BRING
Others are not as optimistic. They fear mining in the area will bring disease and drugs, destroy their aboriginal culture, eradicate their language, corrupt their daughters and upset the delicate balance of the vital ecosystem.
""Everybody sees some economic benefit. All the talk has been jobs,"" said PERSON, the director of an aboriginal radio station and local activist. ""But there's still no focus on what the impact is on culture and tradition.""
The effects are already starting to show in GPE, a town accessible only by plane, boat or snowmobile.
The community has struggled since DATE, when fish, the main resource, became scarce. Residents have experimented with a fish plant, commercialised caribou hunting and a nearby quarry, but so far nothing has overcome the dependence on government assistance or solved the alcohol and drug abuse, violence and suicide that so often stem from isolation and hardship in the region.
PERSON feels mining and exploration are pulling her community further from a solution. Young men have been leaving to work in exploration camps, while women and the older generation stay behind to care for the huge number of children.
The men are too busy to hunt for the DATE's supply of caribou, forcing their families to shop for the tasteless, outdated and costly canned food at the ORG grocery store.
""It's already having an impact on women,"" said PERSON. ""They are the ones with the least to gain and the most to lose. This activity will be a big disruption of family life.""
The older people complain about the constant drone of airplanes and helicopters overhead.
Many of those earning large salaries at GPE's Bay and other exploration camps have not learned how to handle the money. ""We're not wage earners,"" said PERSON. ""We get it, we spend it.""
While social services and courses may resolve some of the problems, the long-term effects of mining could be devastating.
""Drug abuse is already on the rise,"" said PERSON, adding that she expects an increase in unwanted pregnancies, sexually transmitted diseases and violence as strangers bring their bad habits to town.
""It's incredible how all of GPE has all of a sudden become dots of mining claims,"" she said. ""You no longer feel like you're an inhabitant of your own land.""
CARDINAL DATE from Nain who has worked at the GPE's LOC for DATE, is in an ideal position to gain from the development.
The man, who preferred not to be named, said he was kicked out of school, fathered CARDINAL children when he was in his teens and has a criminal record for a string of alcohol-related assaults.
He was glad to get a position at GPE's Bay after years of drifting between odd jobs. But he has no plans to make a career of it.
He does not trust Inco to treat him properly or respect the land, he said. And he resents the tight controls of managers, who ban liquor and keep close tabs on the workers.
He said he has seen an influx of drugs on the site, and he has become part of a chain of people who smuggle alcohol into GPE's FAC the workers.
Nain's transition to a mining town from a troubled, dependent community is bound to be bumpy, noted PERSON, an elected elder and PERSON's father. But he feels the results will be positive for his people.
""In the community, a lot of young people had nothing to do,"" he said in his native GPE. ""They were doing mischief, break and enters. That seems to have stopped a bit now that they have jobs.""
Igloliorte and the other elders were opposed to exploration and development when it started, but most have changed their minds as they become better informed, he said.
""The companies are doing a good job. They're looking after the land and the environment,"" he said. ""If they keep doing that, everything will be all right.""","NORP mining company ORG has been in hiding since it announced DATE that it has formed a partnership with the son of NORP ruler PERSON, prompting a flurry of comment on its ethics. (Corrects description of GPE.)
Despite a constant whirl of rumors and persistent questions that have sent the company's shares on a roller coaster ride, PERSON is maintaining a dogged silence. 
The GPE-based company that controls one of the world's biggest gold prospects in GPE has not talked to the financial press for DATE. Company officials will take calls only from a handful of favoured analysts, according to market sources.
""I haven't had any calls returned,"" said gold analyst PERSON with PERSON in GPE. ""There seems to be a certain number of people they talk to. Everybody's a bit in the dark."" 
Bre-X sent out a news release on DATE about its alliance PERSON's son, PERSON, whose business influence is pervasive in GPE.
Since then, instead of directly addressing material questions about its business in GPE -- many of which are playing havoc with its stock price -- ORG has opted instead to leak to the market carefully selected press material.
On DATE, for example, the company faxed the media, analysts and shareholders a copy of a story from ORG detailing its links with ORG. 
The article referred to ORG's possible ties with the NORP army, stated flatly that one of ORG NORP partners has been bought out and asserted that NORP gold giant ORG had tried to push ORG into a bad deal.
Despite questions about the article, ORG refused to respond and still has not said whether it endorses the story or puts any faith in the statements contained in the story.
""I've certainly suggested a few times that they talk to the media and clear things up,"" said PERSON, manager of surveillance at ORG. 
""It would be advantageous to the marketplace,"" he added.
Rumors have surrounded ORG since the NORP government said DATE it would not issue essential contracts of work until ORG cleared up an ownership dispute with some of its NORP partners.
The dispute has placed a cloud over PERSON search to find a major mining partner to help it develop the rich Busang gold deposit in GPE, but the alliance with PERSON's son was expected to help the company clear up its problems. 
""They're optimistic that they can get everything (the permits) within DATE,"" said gold analyst PERSON of ORG, who said he spoke with ORG on DATE.
But he said PERSON would not comment on the article it distributed. ""They just sent it out for general interest purposes,"" he added.
Still, the rumors in the article and other rampant gossip are taking a toll on shares linked to ORG Other exploration companies in LOC have complained the uncertainty has spilled over and hurt their stocks. 
ORG, a NORP junior mining company that has an interest in the Busang deposit through an alliance with ORG NORP partner, PT PERSON, has found itself on the defensive.
Talk about PERSON being bought out is unfounded, ORG president PERSON said in an interview. ""They have no intention to sell out,"" he said.
Minorca's chairman is in GPE DATE meeting with ORG officials and verified the company's intentions.
""There were discussions, but they were rebuffed,"" said PERSON. 
He added that he also had a slew of unanswered questions about PERSON arrangements with PERSON's son.
""To be frank, the relationship between ORG and ORG is relatively cool.""
--Reuters GPE Bureau CARDINAL CARDINAL",1
"PERSON on DATE called for WORK_OF_ART to put on hold proposals to drop its mutual status and allow policyholders time to consider DATE offer for the life assurance group.
But ScotAm were quick to reject the demand together with renewed requests by PERSON for access to its books.
ScotAm said it had no intention of altering its plans and would proceed according to its own timetable and not one dictated by PERSON.
""They're asking for privileged access to information before policyholders,"" said a ORG spokesman.
""The policyholders have to get that information, see the detail of what we're offering and at that time GPE can make a proper judgement of its offer.""
The details of ScotAm's demutualisation and flotation plans are due to be published at DATE.
Until then an impasse looks likely with ScotAm refusing to discuss PERSON's approach and PERSON prevented from seeing more detailed financial information it says it needs.
It argues that policyholders should have the opportunity to compare LOC's plans with alternative offers based on the same information.
""Ours is a firm offer based on published information and it is a minimum offer. If we had the information they have, we'd be on the same level playing field,"" said an ORG spokesman.
""The policyholders should be given the chance to vote on the best deal on the table. If NORP know there's a firm offer from us - and there may be other interested parties - they should consider all of these and put them to policyholders at CARDINAL go.""
Many industry observers expect the move by PERSON which already owns GPE-based PERSON, to prompt an auction for ScotAm with interest anticipated from both GPE and overseas.
Insurance group ORG has said it was ""watching the situation with interest"" and has made no secret that it is on the lookout for an acquisition in the life assuarnce sector.
GPE's Halifax building society, high street banking group ORG GPE, the NORP-Belgian financial services company, and NORP firm ING PERSON have all declined to comment on reports they might throw their hats in the ring.
No talks have been held with any other parties and according to the ScotAm, none are planned ahead of the publication of its proposals. For the time being at least, the company remains dismissive of PERSON's approach.
It has repeatedly attacked what it describes as the ""vagueness"" of PERSON's offer - a minimum of MONEY (MONEY) and CARDINAL and one billion pounds for the embedded value of the with-profits fund.
But the company was keen to stress that the interests of policyholders remained the most important consideration and if a suitable offer emerged it would be put to policyholders.
""The kite being flown by GPE has all the superficial attractions of an upfront cash offer to policyholders without any assurance of the long term welfare of policies,"" ScotAm chairman PERSON told ORG.
""PERSON has said more to the press than it has put in writing to the board and that should alert policyholders that it's time for very careful reflection.""
While ScotAm may be irked at what it sees as the way GPE has conducted its bid through the press, PERSON contend it is the only way it can get its message across to policyholders. ($MONEY Pound)","The NORP DATE trade deficit is expected to grow by CARDINAL crowns after a MONEY crown DATE deficit in DATE, a ORG poll of NORP economists showed on DATE.
NORP trade figures for DATE are scheduled to be released by ORG (ORG) at DATE local time (CARDINAL ORG) on DATE.
Most economists surveyed said they expect steady growth in the deficit and few surprises.
""It's still too early to talk about a period of stabilisation in the deficit, I think that will come in DATE when imports level off and exports strengthen,"" PERSON, an analyst at ORG told ORG.
Whatever the deficit in DATE, the DATE trade gap is sure to be a record, after the DATE figure reached CARDINAL crowns, more than all of the DATE's total shortfall of CARDINAL crowns.
The DATE trade deficit was MONEY crowns.
Most analysts agreed a MONEY gap would be in-line with prevailing trends, and on target for the estimated deficit of MONEY crowns.
Analysts say the trade balance has been hurt by a downturn in the economies of western LOC earlier in DATE, and a the effects of a recovery of demand in western LOC have yet to make an impact.
The government and central bank, however, has repeatedly ruled out a devaluation of the crown to boost exports.
Analysts point to DATE as a crucial time in which the import wave -- which is aimed at modernising industries -- must show results in productivity growth and competitiveness.
Economists said the deficit could be financed DATE, but might pose problems in DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"NORP aircraft maker ORG looks set to soar higher in DATE following a bumper order from airline ORG on DATE, but tough decisions still need to be made on its products and ownership to secure the long-term future.
ORG announced on DATE of the biggest orders in aviation history with the GPE-based airline's command for CARDINAL planes in the PRODUCT narrow-body family of passenger jets and options for a further CARDINAL. List price for the orders was estimated at MONEY.
The ORG victory follows DATE's order by GPE, a LOC-based airline, for CARDINAL ORG PRODUCT worth MONEY, which beat out a rival offer of ORG PRODUCT.
""The order backlog is really healthy,"" Emmanuel Dubois Pelerin, analyst at ratings agency S&P Adef said. The order book would sustain or even increase production rates for DATE and DATE, he added.
An ORG spokesman confidently forecast the consortium would rack up firm orders DATE exceeding CARDINAL planes, compared to CARDINAL DATE.
While there are no worries on products and profitability for DATE there are uncertainties further ahead stemming from ORG' change in legal status and implications for projects, particularly the LOC large plane and stretched A340 long-range jet.
ORG is a partnership made up of NORP state-owned ORG, ORG, ORG, a unit of ORG and ORG (ORG) of GPE.
In the interests of increasing market responsiveness and competitiveness, ORG wants to change into a joint stock company by DATE. Discussions are being held among the partners to decide the shape of the future company.
It also has to find external financing for the CARDINAL plane.
ORG has said it wants to find CARDINAL of external risk sharing for the CARDINAL, which it estimates will cost MONEY to develop.
PERSON said he believed ORG would have to choose to build either the stretched PRODUCT or the CARDINAL, as running both at the same time would overload its finances,
But the ORG spokesman said the consortium would be able to finance development of both the CARDINAL-600 and the CARDINAL, with the stretched CARDINAL a top priority in the near term.
ORG is under severe time pressure to come up with a rival to ORG's monopoly at the large-capacity segment with its CARDINAL and PRODUCT combination which hit ORG hard in DATE.
ORG is studying the PRODUCT and PRODUCT derivatives of its GPE jet, which has been a cashcow since it entered service in DATE, but which nearly broke the company in development.
The new jumbos are expected to cost MONEY a piece, which industry sources said prompted ORG' senior vice-president commercial PERSON to announce DATE that the CARDINAL would cost MONEY.
The ORG supervisory board DATE asked for the business case for the CARDINAL-600 to be presented in DATE to allow an early decision on whether to launch the product. If it were launched, the CARDINAL-seater could be in service in DATE and head off competition from the early versions of the PRODUCT.
If the CARDINAL-seater CARDINAL goes ahead, it would fly in DATE and tackle the PRODUCT derivatives.
A signature DATE with ORG on using its Trent engine for the CARDINAL will allow ORG to supply important performance data such as fuel burn, range and take-off and landing weight to the airlines it is talking to for its marketing studies.","Fallout from a scandal involving late allocation of trades at PERSON was still attracting attention in GPE on DATE, but the company escaped further sanctions and said business continued as usual.
""We've had some redemptions. We've also had some subscriptions,"" a company spokesman told ORG. ""The business pattern is very much as usual.""
PERSON retained its seat on the executive committee of the domestic industry association, ORG, despite media reports that moves were afoot to knock the company off the committee.
In election results released on DATE, PERSON continues as CARDINAL of CARDINAL member firms with a representative on the board, but the association stressed the election began in DATE and ballots were collected by mail.
""There isn't any particular relationship (between the elections and the scandal),"" an association spokeswoman said.
PERSON did, however, earn a stinging rebuke from the group, which announced a new industry drive towards best professional practice.
""It was felt that some aspects of PERSON past practices were unacceptable to the industry's general standards of professional integrity,"" said PERSON of ORG, who was reappointed chairman of the association for DATE.
Regulators hit PERSON with heavy fines and revoked the licence of its GPE-based fund management company, along with the registration of the company's chief executive following DATE revelations of late allocation of trades by a senior fund manager. Some of the trades involved the fund manager's personal trading account.
PERSON said a new working group will work with the NORP colony's chief markets regulator, ORG, to establish a code of practice for personal account dealing by its members.
""What the HKIFA must do is to learn from this experience,"" said PERSON, who described the punishment meted out to PERSON as ""appropriate"" and ""severe.""
The association will also work with the SFC to set up guidelines for internal controls.
""In light of the concerns on the impact of the case on the industry, we have resolved to work even harder to uphold the highest level of professional integrity in our industry,"" PERSON said. ""To be worthy of the high fiduciary trust placed on it, the investment management industry must be able to demonstrate to investors a clean and fair environment.""",0
"NORP building materials group ORG produced tentative signs of a turnaround at its troubled NORP heating operations on DATE, and promised a QUANTITY increase in heating profits over DATE.
The company also launched a blistering attack on the government, blaming ""disgracefully low"" infrastructure spending for a slide in its NORP cement sales.
The recovery in heating, together with continued strong performances in the highly profitable GPE and GPE markets and the GPE, helped lift ORG interim pretax profit by PERCENT to MONEY (MONEY), at the top end of analysts' forecasts, with the interim dividend rising by PERCENT to MONEY.
Against a background of a weak stock market ORG shares closed down MONEY at MONEY.
The heating operations, which are undergoing a major restructuring focused on GPE, GPE and GPE, posted operating profits of MONEY in DATE, up from QUANTITY a year before.
But GPE's biggest cement producer also warned that it saw ""no significant signs of recovery"" in the key NORP cement market, and said it expected DATE sales to be down PERCENT from DATE's depressed performance.
PERSON, chief executive of the group's NORP cement business ORG, blamed poor housing starts and low government infrastructure spending, warning that if the underspend continued ""the damage done to the competitiveness of NORP industry would be very great indeed.""
Worries about cement were offset by strength overseas and signs of early progress in turning around heating, which encouraged analysts to maintain DATE profit forecasts.
Chief executive PERSON told ORG the group's aim of achieving DATE cost savings of MONEY at the division is ""well up to programme,"" with MONEY coming through DATE and the full benefit seen in DATE.
ORG said he was confident ORG could achieve a PERCENT return on its QUANTITY investment in the struggling division, or MONEY, within DATE, despite sluggishness in GPE and GPE.
""We are disappointed with the performance of the economies of both those countries, and we think it is not likely to ease very rapidly,"" said ORG, adding ""that is why we set a DATE time horizon"" for recovery.
With gearing a miniscule PERCENT at DATE, ORG said PERSON was actively looking for opportunities to expand.
""We'd like to grow our cement business: it depends on where the opportunities crop up. In the GPE it's a question of waiting for the right opportunity and the right time in the cycle,"" he said.
ORG is ""actively looking in LOC, and we are taking a very careful look at GPE,"" he said, adding that it was also interested in expanding its south NORP operations beyond GPE and into GPE.
($MONEY Pound)","NORP insurers said on DATE they would require those wishing to take out new life insurance policies to reveal the results of genetic tests.
But ORG (ORG) said it would not ask people to take genetic tests when applying for life insurance for DATE.
The policy statement, backed by all CARDINAL ORG member companies, was a response to rapid developments in the area of genetics in DATE.
While still in its infancy, there is the possibility that new genetic tests will soon be developed that will be able to predict the chances of someone contracting certain diseases or their life expectancy.
Many GPE companies already require applicants for insurance to undergo genetic testing. At present, PERSON are asked to give results of tests they have undergone but are not asked to take tests to qualify for insurance.
Doctors can already diagnose the most common single gene defects such as muscular dystrophy and cystic fibrosis and screen for an individual's susceptibility to certain cancers.
Experts say it will soon be possible to predict the risk of more common disorders such as diabetes or rheumatoid athritis.
The ORG specifically pointed out PERSON's disease, a rare and untreatable hereditary disease that usually does not show up until middle age.
It is characterised by involuntary twitching and causes mental deterioration and eventual death.
DATE's announcement is likely to raise fears that an underclass may be created of people unable to insure themselves because of their genetic make-up.
But a spokesman for the ORG dismissed this possibility and said if new tests became available they were likely to benefit people, enabling them to adjust their lifestyles to the risks they run of heart and other diseases.
CARDINAL expert on the ethics of genetics testing called the decision a good compromise.
""I very much welcome this decision because it seems to me to strike a balance between the private interests of individuals and the interests of insurance companies,"" said PERSON, a ORG geneticist who coordinates ORG, a committee watching such developments.
Not requiring tests protected individuals, she said, while forcing people to disclose tests prevented those with genetic defects from taking out policies hoping for big payoffs.
But ORG warned: ""There is a danger that genetic predisposition will be thought of as predicting conditions, which it is not.""
Actuaries said they were concerned the debate on health insurance and genetic testing had barely started.
A statement from actuaries' professional organisations noted that GPE's ORG accepted good or bad risks without extra charge.
""The profession does not favour legislation on the use of genetic tests as it feels that no case has yet been made for such severe action nor has society discussed how commonplace such tests will be in future medicine,"" it said.
Genetic tests detrimental to applicants for life insurance up to a total of MONEY ($MONEY) will be ignored where the insurance is linked to a new home mortgage under the new policy.
For new applications for other life insurance policies, individual companies will decide whether they wish to take account of the results of genetic tests previously taken.
($ = MONEY)",0
"ORGamp; ORG (C&W) on DATE brushed aside speculation that its landmark merger with CARDINAL companies had run into hurdles and said it had got the man it wanted to run what will be GPE's biggest cable firm.
In a long-awaited statememt, C&W said it would appoint PERSON as chief executive of ORG and ORG, formed by merging C&W's ORG unit, ORG ORG, ORG, and ORG.
""PERSON is the one we wanted,"" C&W chief executive PERSON told ORG in an interview.
""He is the ORDINAL choice and we're delighted to get him.""
Wallace, who will join C&W on DATE, is currently a director at leisure and media company ORG. But he brings with him useful experience in television from a stint on the board of satellite broadcaster BSkyB.
C&W, is mainly a telecommunications business and has little previous experience in television.
But CARDINAL analyst gave the appointment a lukewarm reception.
""It's not an obvious choice,"" said the analyst. ""He strikes me as very competent, but does he know anything about the cable business? I'm not quite sure why they didn't go for CARDINAL of the insiders. There were some strong people, I thought.""
Although C&W's shares were languishing MONEY lower at MONEY in TIME trade, ORG CableComms saw its shares rise MONEY to MONEY.
With C&W, GPE's ORDINAL biggest telecoms company, planning to finalise the cable merger in DATE, the lack of a chief executive at the new company had fuelled some speculation that a clash of cultures was hindering talks.
Although PERSON conceded that the merger was complicated, he insisted: ""That is not true...There's a great deal of activity and we really are right on track.
""There is an exciting spirit of cooperation to bring this to reality,"" he said.
Brown, who will take the chair of the company, tipped to be worth MONEY (MONEY), said a finance director would be the next announcement.
The proposed cable merger was announced DATE -- and most such deals spell job cuts.
Although Brown said he was not legally allowed to comment ahead of Cable and ORG planned listing in GPE and GPE, he warned that the new group would ""clearly"" reap efficiencies.
""I cannot quantify what that is going to be, but we are working on that and we will achieve that,"" he said.
Cable and ORG, which will be well-placed to compete against dominant telecoms company ORG, will provide local, national and international data and mobile telecommunications with multi-channel television and Internet services.
($MONEY Pound)","The GPE telecoms market is one of the world's most competitive and any attempt to block a planned MONEY merger between NORP Telecom and GPE firm ORG on grounds of restricted trade will fail, analysts said on DATE.
The merger partly hinges on how open the GPE market is deemed to be because GPE rules bar foreign groups from buying PERCENT of a GPE firm unless their home market is deemed to be as competitive as that of GPE.
If it is approved, the merger between ORG and GPE's ORG announced on DATE to create ORG will represent the largest cross-border takeover in history and the world's ORDINAL biggest international telephone group.
GPE telecommunications market leader ORG, which stands to lose most from such a new heavyweight rival, has urged regulatory authorities to give the planned deal with ORG, the number CARDINAL GPE carrier, the ""scrutiny it deserves.""
But analysts said it was unrealistic for ORG, ORG arch-rival in international markets, to say that the NORP market was not competitive enough.
CARDINAL industry analyst, asked whether he thought the proposed deal would be cleared, said: ""Ultimately, I think it will be approved. But some tinkering may be required.""
""I don't think it's realistic for ORG to argue that the market in the GPE isn't open -- or that the market in the GPE is any better,"" said CARDINAL analyst who declined to be named.
GPE's market is more open than those of its NORP neighbours, most of which will only abolish state monopolies over telecoms services by DATE.
ORG cleared the ORG's acquisition of its initial PERCENT stake in ORG DATE.
The merger between ORG and ORG to form ORG will have to be approved by ORG, ORG and GPE's ORG.
Although ORG still controls PERCENT of all local GPE telephone connections, analysts said there were few barriers to foreign companies wanting to compete here.
AT&T is already planning to establish a foothold in the GPE market since the international partnership between ORG and ORG and ORG unit ORG ended DATE.
AT&T has also been tipped as likely to forge alliances with GPE cable companies in the local market as well as with mobile networks and new operators such as GPE-based ORG.
A spokeswoman for GPE telecoms regulator ORG said it was too early to say which obstacles stood in the way of ORG and ORG completing the proposed deal by DATE.",1
"GPE Attorney General PERSON said on DATE GPE cigarette makers had delayed harsh revelations about the industry with a surprising decision to end pre-trial opposition to punitive damages in the state's multi-billion dollar anti-tobacco lawsuit.
Butterworth told ORG a court hearing set for DATE on the punitive claims to be added to any other jury awards would have made public information he alleged would have been highly damaging about the industry's marketing and medical research, contained in CARDINAL pages of court-sealed documents.  
""I liken it to a criminal trial in which the defendant tries to suppress evidence that would prove him guilty,"" PERSON said.  ""They want to delay.  It's their best short-term ploy.""
GPE is CARDINAL of CARDINAL states suing GPE cigarette companies to recoup MONEY spent through government healthcare programs on treating people made ill by smoking.  A trial in the GPE lawsuit filed by PERSON is set for DATE.  
ORG Cos Inc and other cigarette companies, complaining of likely bad publicity, earlier dropped pre-trial opposition to punitive claims by the State of GPE.  The state is seeking to recoup MONEY or more for treating ORG costs from DATE.
ORG Cos Inc lawyer ORG said in a news release that the industry's decision had no legal effect and that the industry had never paid punitive damages in any lawsuit.  
Little said a key reason for the industry's decision was a worry that the state's lawyers would present evidence against cigarette makers during a public, pre-trial hearing.  Tobacco lawyers would be severly restricted in defending against the evidence during the hearing, he said.
""The lawyers for the state of GPE have demonstrated a remarkable propensity for trying their case in the media,"" Little said.
He accused anti-tobacco lawyers in GPE of leaking documents to reporters.  
""... The DATE hearing -- which was already window dressed for media consumption with a CARDINAL-page brief and CARDINAL boxes of documents -- would have done nothing other than provide a platform for the plaintiffs' lawyers to once again trumpet their case making it difficult for all parties to seat an unbiased jury,"" Little said.
Other tobacco companies, including ORG, have accused anti-tobacco lawyers of selective and unfair leaks to the media.  
Butterworth said he was forbidden by court order from detailing the damaging information in the documents but said PERCENT of the material came from industry internal documents. Much of the material was gathered by other attorneys general, many of whom are cooperating in their anti-tobacco lawsuits.
""It's nearly all their documents, all about their marketing practices, their science ... and they are giving up everything to avoid publicity,"" Butterworth said.
""This is a PERCENT victory for the state,"" he said of the industry's decision.
""The only downside is that disclosure of the documents is delayed.""
A trial in the lawsuit is scheduled to begin on DATE in LOC, GPE.
-- GPE bureau, CARDINAL-373-5014","Riding rising GPE cable TV fees, ORG said its earnings before heavy debt payments shot up PERCENT in DATE, compared with DATE.
Covering DATE completion of its MONEY acquisition of ORG, the entertainment group said CARDINAL hit movies, strong magazine advertising sales helped by EVENT, and good ORG results lifted cash flow to MONEY.
Revenues for DATE were MONEY, up from MONEY DATE.
DATE DATE cash flow, defined as earnings before interest, taxes, depreciation and amortization, or ORG, was MONEY, the company said on DATE.
Time Warner, many of whose cable TV and other businesses are co-owned with PERCENT partner ORG , reported a net loss of MONEY, or MONEY a share, for DATE.
Net losses in DATE were MONEY, or MONEY a share, on CARDINAL more shares outstanding.
Net interest costs were MONEY, up from MONEY in DATE. Preferred dividends rose to MONEY in DATE from MONEY.
ORG stock showed no gain after the results but rose smartly TIME the day after top executives told institutional investors that debt reduction was centre stage at the company.
The executives said ORG is in active discussions aimed at restructuring its troubled cable-television partnership with ORG.
CARDINAL ORG executive said the talks with regional phone group ORG, PERCENT owner of most of ORG cable systems, studios and the ORG pay-TV service, are likely to quicken and could yield a deal within DATE.
""We want to delever the company, lighten up on cable, and simplify the corporate capital structure,"" said the executive, speaking on a promise of anonymity.
The executives echoed PERSON, founder of ORG and now vice chairman of the combined company as well as its biggest individual shareholder. He has said he wants ORG MONEY debt halved.
Time Warner now sees itself with the acquisition of ORG, producer of ORG, ORG and CARDINAL studios, as primarily a programming group, the executives said.
Capital-intensive cable operations are less important and ripe for partial divestment, the executives said. Investment capital can be better used outside cable, the executives said.
EBITDA at ORG cable operations, including those shared with with ORG, rose PERCENT to MONEY, the company said in its earnings report.
Basic cable revenues rose sharply and advertising sales in cable also increased, the company said. With CARDINAL customers, ORG is the nation's ORDINAL-largest cable operator.
Time Warner also had CARDINAL summer movies grossing MONEY in GPE ticket sales -- ""Twister,"" ""Eraser"" and ""WORK_OF_ART"".
ORG shares rose MONEY in ORG.",1
"GPE issued another strong signal on DATE that its stock and bond markets have been given the green light for fast growth to provide the economy with more efficient means of investment.
The official ORG said the stock and bond markets must be developed vigorously to provide a stronger foundation for national economic development.
The newspaper quoted a report from ORG, a think-tank, as saying the efficiency of investment channels was a key question affecting the long-term development of GPE's economy.
""The sluggish development of the direct investment markets is one of the factors affecting the long-term development of the national economy, so it is necessary to speed up the development of stocks, bonds and other direct investment markets,"" it said.
The report was the latest in a series of indications that GPE's previous suspicion of the securities markets has been replaced by a determination to expand and strengthen them.
It said more direct investment would help to reduce the tangle of problems surrounding heavily indebted state enterprises and the state banks that are currently forced to support the enterprises with a constant supply of loans.
""Banks are being squeezed from both sides, given the high risk (of loans to state enterprises) and the ever-growing deposits they are taking in,"" the paper said.
It said that it would be better for all parties if depositors put less cash into bank deposits and invested it directly in companies through the securities markets.
""Most of the money in the hands of ordinary people is currently put into bank accounts, which increases total bank deposits even as enterprises are short of money, resulting in capital being left idle and wasted,"" the report said.
The current small scale of the direct investment markets was a key reason for this imbalance, it said.
""So how to standardise, develop and strengthen the direct investment markets to allow for more reasonable usage of deposits is an important part of raising the efficiency of banks and making more efficient use of capital,"" it added.
The report gave no details on shifting the focus of enterprise investment from banks loans to securities, but GPE has implemented a number of measures recently aimed at expanding the securities markets.
A record number of companies have DATE been given approval to list shares on the country's CARDINAL stock markets in GPE and GPE.
The GPE market was strongly affected DATE by rumours, denied in GPE, that securities authorities were about to release the quotas for company listings for DATE.
But authorities DATE did announce a major relaxation of policy on mutual funds, which are seen as an important conduit for funnelling funds from ordinary people into the securities markets.
Regulations allowing existing mutual funds to list on the stock exchanges are due to be released before DATE, official media reports said.","GPE's crackdown on the stock markets DATE is partly fuelled by fears in GPE that the incredible volatility of the exchanges could lead to social instability, analysts said on DATE.
They said the move was also aimed at avoiding disruption caused by foreign and domestic speculators who had planned to pump money into the markets up to the DATE handover of GPE to GPE, then pull their funds out again.
""In a transitional period when the ailing leader PERSON is gradually moving out of political arena, social stability is the primary concern of the leadership,"" said CARDINAL executive with a NORP brokerage.
""Stock boom and bust cycles do not fit in with the aim of social stability,"" he added.
A GPE-based broker said there had been many rumours that the surges on the GPE market were supported by overseas funds from GPE and GPE.
""Some rumours said that foreign funds wanted to push up the NORP markets before the (GPE) takeover and depress them afterwards,"" the broker said.
The official ORG said in a harshly worded commentary on DATE that GPE's stock markets had overheated on widespread speculation. It warned that if the markets crashed, the government would not step in to support them.
In anticipation of the response to the commentary, the stock exchanges DATE TIME introduced a PERCENT limit on movements of prices for individual shares.
On DATE and again on DATE, most shares on the GPE and GPE stock exchanges plunged to the PERCENT limit-down level.
Since DATE, both domestic and foreign currency share prices on the CARDINAL markets had surged on average by PERCENT.
""The central government has chosen the right time,"" said CARDINAL political analyst. ""There are still DATE to go before the GPE takeover and stock prices had not surged so far that falls would push investors out on to the streets (to demonstrate).""
Some stock traders said that, by talking down the markets, GPE had effectively prevented heavy fresh liquidity to flow into the markets.
""The inflow of hot money (speculative funds) has been cut off with retail investors frightened away and institutions taking heed of the warning,"" CARDINAL trader said.
""It seems now that the markets will be 'stable' around the date of the GPE takeover,"" he added. ""Prices are expected to move little after the impact of the crackdown is gradually digested.""
On DATE, a spokesman of ORG was quoted by local media as saying that the crackdown was aimed at protecting retail investors and that GPE would continue to develop the markets.
""Our government has always insisted on the principle of steady development of the securities markets on the basis of their standardisation,"" he was quoted as saying.
""We do not care what kind of development the central government chooses,"" said CARDINAL investor. ""But periodic policy changes reflected in official statements really make us frustrated.""
The strong surge in prices on GPE's CARDINAL stock exchanges since DATE had been largely fuelled by expressions of support for the share markets from GPE.",1
"NORP robusta producers will meet discuss to export limit quotas on DATE after a DATE world agreement in GPE to shore up prices, GPE Commodities Minister told ORG on DATE.
PERSON, who is also chairman of ORG, gave no venue details but said NORP robusta exporters would afterwards seek to meet other producers.
""There will be a meeting to decide how to divide export limits between NORP producers,"" said PERSON. ""The meeting will be for DATE, on DATE,"" he added.
""We will then call on other producers for a meeting,"" he said without giving agenda details.
PERSON on DATE called off talks in GPE with NORP robusta producers.
ORG (ORG) decided on DATE to cut robusta exports by CARDINAL bags (QUANTITY) after low prices seen in DATE.
The limitation was expected to be shared between NORP and NORP producers.
""The talks have been postponed,"" PERSON said after returning to GPE to attend cocoa sector reform with ORG and donor officials.
NORP officials told ORG export cut sharing between LOC and LOC had not been discussed as the GPE meeting.
PERSON said NORP producers would discuss how to divide LOC's export limitation share, which he said was CARDINAL bags, between exporting countries.
IACO chief economist DATE delined to comment on NORP sharing arrangements saying the decision was an internal IACO matter.
GPE has decided to reduce its exports by CARDINAL bags in the DATE period covered by the volutary export restraint.
ACPC members are concerned that rising production from non-ACPC member such as GPE will undermine their own export restraint policy.
GPE's ORG representative PERSON said informal discussions had taken place after PERSON cancelled his trip. No ACPC export cut sharing cut talks took place, he said.
GPE, LOC's largest exporter, expects to produce QUANTITY in CARDINAL but local quality inspectors say quality problems mean not all of it will be exportable.
--Abidjan newsroom +225 CARDINAL","A planned merger between NORP brewer PERSON and ORG will create such a dominant force in the industry that it is almost certain to fall foul of GPE's competition authorities, regional brewers said on DATE.
""I think it will be referred but what will happen then is anybody's guess. They must think there is a reasonable risk of that happening otherwise why have a plan B in place,"" said PERSON, finance director of ORGamp; PERSON.
On DATE PERSON confirmed details of a long-awaited deal to merge with ORG, leaving NORP brewer GPE with a PERCENT stake in a merged ORG if NORP regulators allow the marriage to take place.
Under the terms of the deal, if PERSON cannot combine C-T with its own brewing business within DATE, PERSON has the option to put its whole shareholding to GPE and GPE has an option to put PERCENT of C-T to Allied Domecq.
""If it doesn't work it seems plan B comes into operation. But it is by no means clear what will invoke plan B,"" Findlay said.
PERSON was knocked off its perch as GPE's leading brewer DATE when ORGamp; GPE (S&N) acquired ORG from NORP brewer ORG, giving it a PERCENT share of GPE's beer market.
A merger of PERSON and ORG would make PERSON GPE's largest brewer by far with PERCENT of the market.
GPE's competition authorities will want to find out if the deal would leave PERSON and S&N too much control over beer prices and too powerful a grip in the Midlands and Yorkshire.
PERSON, retail director at ORG, said: ""In common with the rest of the world we are expecting a referral. Anything that takes competition out on the supply side is not good news from the point of view of the purchaser.""
Greenalls, owners of CARDINAL pubs, exited brewing at DATE. ""If it becomes too much for PERSON to swallow then I suppose plan B swings in -- GPE effectively takes over,"" he told ORG.
Many brewing analysts argue that the duopoly that exists in GPE between PERSON and S&N results in much higher margins for the brewers which means higher prices for drinkers.
""I think the supply position in the Midlands and PERSON is obviously something that needs to be looked at very carefully,"" said CARDINAL senior source at regional brewer.
""Because PERSON and ORG have dominated the beer supply in those areas since EVENT.""
""In those areas they are the CARDINAL biggest brewers and the CARDINAL biggest brewers getting together in very significant regions like that is something which has never happened before.""
A spokesman for ORG confirmed it would look at the deal but declined to comment on whether the ORG would recommend referring it to ORG for a full investigation.
Industry sources say although S&N's purchase of ORG was referred the ORG gave the company much clearer guidance on what concessions would be required to let it through.
S&N was obliged to reduce its tied estate of pubs by CARDINAL to CARDINAL. It also agreed to the early release of ORG (ORG) pub tenants from a supply agreement. It had to release CARDINAL of them by DATE and a further CARDINAL by DATE.",0
"GPE's oil sector has staged its ORDINAL real comeback by nearly closing the door on DATE of dizzying output declines, but analysts said on DATE that the troubled industry was not yet in the clear.
""The larger declines are over; is that a turnaround? Yes,"" said PERSON, managing director of ORG at ORG, commenting on DATE oil production figures.
ORG said GPE's DATE crude oil output fell PERCENT on DATE levels to QUANTITY (QUANTITY per day).
That is GPE's lowest crude oil output rate in DATE.
But the decline is the smallest since GPE -- still the world's ORDINAL-largest oil producer -- discovered its huge NORP reserves and pushed oil output to a peak QUANTITY (CARDINAL bpd) in DATE.
The story has been a downhill one ever since, and double-digit percentage output declines throughout DATE and DATE have left GPE's DATE output at PERCENT of DATE's record level.
But the picture, as the DATE data shows, is getting prettier.
""The fall is finally coming to an end,"" said PERSON, associate director of oil and gas at ORG in GPE. ""It's not just a flash in the pan like LUKoil -- it's clearly more broad-based.""
Analysts say the recovery showed its ORDINAL real signs in DATE, possibly as NORP producers began to cash in on a world oil price rally and jammed export outlets.
But not all analysts were as sanguine DATE results.
""The fact that it almost levelled out DATE is significant,"" said a GPE oil executive involved in ORG, a GPE lobby of foreign oil majors.
""But I don't really think it means a whole lot, because there's a problem with domestic demand and with export capacity. It doesn't make sense for producers to produce as much as they can right now.""
GPE's oil firms have limited export options and other domestic industries are recovering more slowly.
NORP gross domestic product fell by PERCENT in DATE and industrial output shrank in every sector of the economy to plunge PERCENT overall, official figures showed.
Declining domestic demand spurred NORP exports outside ORG to rise by PERCENT in DATE to QUANTITY.
But analysts say GPE's increasingly hungry tax-man has eaten up a large portion of the extra export earnings, leaving GPE's newly-privatised companies with little to reinvest.
Still, the export boom has spurred GPE's CARDINAL or so vertically-integrated oil companies' appetite for growth, and both PERSON and PERSON said domestic crude oil demand might pick up slightly DATE.
""Any arrest in decline must be heartening and what we must be looking to see is some growth,"" said PERSON, a partner in ORGamp; ORG ORG unit in GPE.
But GPE's oil companies, most heading into their DATE as restructured, privatised companies, will have problems in breaking completely free of GPE's economic woes.
""It's all a function of when domestic industry turns around,"" said the GPE executive. ""Producers and refiners both have an incentive to export and will for quite some time.""","PERSON, the chairman of travel group PERSON who dropped out of bidding for ORG, is now talking to acquire airline ORG, a spokeswoman for his travel group said.
GPE on DATE announced that he and partner ORG had withdrawn their participation in talks to rescue ORG, in administration since DATE, because of the size of the financial commitment required.
A MONEY bid by ORG Plc NORP ORG unit and bank PERSON is now the only remaining on the table and expected to be approved by the ORG commercial court on DATE.
But ORG, also chairman of small NORP airline PERSON, told ORG that his withdrawal did not mean he had given up his ambitions to create a private NORP airline group.
""I remain a candidate for the takeover of ORG, that remains my priority,"" he told the paper. He was not immediately available for comment on DATE.
ORG had planned to buy ORG with the help of ORG, DATE resorts group PERSON and Rivaud. In a ORDINAL stage he had planned to enlarge his consortium to acquire ORG and merge ORG, ORG and ORG in a big NORP group to rival the state-owned ORG group.
ORG, created in DATE by the merger of PRODUCT and NORP, is owned by ORG (CDR), a state entity charged with selling former assets of the ORG bank.
ORG is worth MONEY, according to industry sources. ORG said that talks with the ORG had already started but he added that no timetable had been fixed.
""Before anything, we need to know the price of ORG. That is not the case DATE,"" he told ORG.
DATE, former ORG chairman PERSON had been in talks with ORG chairman and founder ORG about a merger.
But the deteriorating financial situation at ORG led to a break-up of talks. The ORG has since fired Couvelaire.
Couvelaire had a PERCENT stake in ORG and previously headed small airline ORG. He was appointed in DATE to replace PERSON who had jumped ship to ORG.
In his statement on DATE, announcing his withdrawal from ORG, ORG said his ambitions were unchanged.
""The ORDINAL tourist group in GPE, PERSON, which is active in air transport since DATE through its ORG subsidiary, the only airline in GPE with systemic postive results since the takeover in DATE, remains available to participate in the constitution of a a private group of which the necessity seems, at least as far as words are concerned, to be felt unanimously and which has become more urgent DATE than DATE,"" he said in the statement.
""It is necessary not to compromise the success of such an ambition which implies the both restucturing of ORG and, later, the privatisation of ORG,"" he said.
""It is totally clear that there is urgency and there is no more time for hesitations,"" he added.",0
"GPE is planning to issue rules to speed development of its key power sector with an expanded role for foreign companies, a NORP planning official said on DATE.
GPE was reviewing rules governing build-operate-transfer (BOT) projects, which so far have been off limits for foreign companies on major power projects, said PERSON of ORG.
""ORG (cabinet) is considering temporary regulations,"" said PERSON, director of the commission's department of foreign finance utilisation.
GPE has said it needs MONEY in foreign capital through DATE to meet its targets for power industry development.
ORG said the BOT rules would not be ready in time for the award of the nation's ORDINAL such power sector project which is expected soon and could cost MONEY.
GPE is now evaluating tenders for the ORG power project in GPE in southern GPE, which calls for construction and operation of CARDINAL QUANTITY power units.
GPE says it is using the BOT method on a trial basis.
The winner could be announced within DATE, ORG told ORG at an energy conference.
Major bidders include industrial giant ORG of GPE and a group including GPE's ORG and GPE ORGamp; ORG
The winner would construct and operate the plant for a period of time before turning the plant over to GPE. Its bid would include a plan for domestic electric power rates.
The rules under review would define BOT projects and state when they are acceptable.
They would also specify the approval process, require the use of international tenders and determine the apportioning of risk between GPE and foreign companies, ORG said.
GPE generally does not allow foreign entities to hold than a PERCENT stake in key power projects, which are those with a capacity of QUANTITY.
Western bankers at the conference said the lack of a clear legal framework for BOT projects coupled with problems in setting domestic electric power rates made it difficult for foreign commercial banks to finance the ORG project.","GPE's ORG, which has long resisted calls from employers to reform the country's rigid corporate pension system, has finally decided to relax its tight grip.
However, industry sources say its proposals fall short of what is needed to cope with GPE's rapidly ""greying"" society and the poor financial state of employee pension funds resulting from record-low interest rates and a weak economic recovery.
""Unless GPE undertakes a drastic overhaul of the corporate pension system, it will remain out of step with the rest of the world,"" said an official at an overseas-based investment advisory company.
In the past, the amount of money NORP corporate pension funds held was so small that authorities could regulate them without too much difficulty. But the amount has grown to MONEY (MONEY) and unless the current system is changed, it will hurt corporate balance sheets, he said.
PERSON, a key member of an advisory panel to the prime minister, said on DATE that ORG had stated in a subcommittee meeting on deregulation that it would abolish restrictions on where employee pension funds managed by trust banks could be invested.
Under the current rules, each trust bank must invest CARDINAL of the funds it manages in fixed-income assets, PERCENT in NORP stocks, PERCENT in foreign currency-denominated shares and bonds, and PERCENT in real estate.
GPE's corporate pension system is divided into employee pension funds, which are supervised by ORG, and Tax-Qualified Retirement Pension plans (TQPs), which are supervised by ORG.
Miyauchi said ORG was still considering whether to allow investment advisory firms to manage TQPs. It also told the subcommittee that it was studying whether to allow variable yields and flexible benefits, he said.
ORG has steadily lifted its restrictions on the management on employee pension funds, which have assets estimated at MONEY (MONEY), and allowed investment advisory firms to manage the funds.
However, ORG has barred investment advisory firms from managing TQPs, which have assets totalling MONEY (MONEY). Only trust banks and life insurers are allowed to manage TQPs.
Employers participating in the corporate pension system are required to maintain specified yields, currently PERCENT a year, to guarantee predetermined benefits. But the actual return on investments is now PERCENT.
Because of the poor investment environment, many corporate pension funds are facing a shortage of funds to pay benefits to pensioners in the future, industry sources said. If pension funds fall short of meeting future payments, sponsoring companies must cover the shortfall.
Industry sources said that investment advisory firms, especially foreign companies, are keen to manage TQPs.
""Generally speaking, fund managers at NORP companies are conservative,"" said the official with the investment advisory company.
""They tend to avoid investment risks because they see the risks, which are short-term volatility, as something dangerous. But experienced foreign advisors are well-qualified to manage pension funds as they take reasonable risks in long-term pension fund management over 20- to DATE periods,"" he said.
He said NORP pension funds invest PERCENT of their assets in equities, including PERCENT in foreign stocks.
PERSON, a strategist at ORG, said in a recent report that if GPE completely abolished restrictions on asset management of corporate pension funds, it was likely to see more investment in local stocks.
He estimated that at the moment, life insurers and trust banks put an average of PERCENT of the pension assets they are entrusted with into local stocks.
""If corporate pension funds increase the weighting of local stocks to PERCENT, MONEY (MONEY) of funds will come to NORP stock markets."" (MONEY)",0
"The NORP authorities acted decisively on DATE to stop extraordinary price movements on the country's CARDINAL stock markets by imposing a limit of PERCENT in the movement of any stock on DATE.
In announcements made after the market closed on DATE, the GPE and GPE stock exchange set DATE movement limits for all shares and investment fund units at PERCENT in either direction, with effect from DATE.
""From DATE on, all bids and asks exceeding the limits are null and void,"" the announcement said. ""No brokerage must accept invalid bids and asks.""
The announcements followed DATE of dramatic falls in the B share indices of both GPE and GPE, which on DATE alone plunged PERCENT and PERCENT respectively.
On DATE, the exchanges also ordered brokerages to make public the top losing and gaining stocks on any one day and the names of the key institutions involved in trading.
Brokers said the order would tend to limit institutional speculation, adding that while restriction of market manipulation was good, the move would also hinder the activity of the markets.
The announcements all made clear that they had been approved by ORG (CSRC), which supervises all securities and futures markets.
NORP brokers generally welcomed the new limits, saying they would effectively help control erratic trading on the fledging markets founded in DATE.
""The decisions indicate the securities authorities are determined to standardise the markets and will be a key step in stabilising share prices,"" said PERSON, deputy general manager of the securities trading department of ORG.
But some brokers said setting the limits would benefit buyers and help creating buyers' markets.
""Unlike futures contracts, investors cannot build short positions on the stock markets,"" said CARDINAL broker. ""Price limits thus will help buyers who can build large positions without much risk of price plunges.""
A foreign broker in GPE said the limits were overall not beneficial to the market or its development.
""Trading limits generally distort markets rather than rationalise trading,"" he said. ""But the real question is how long can this can go on.""
GPE's B share index ended down CARDINAL points or PERCENT at CARDINAL points on DATE on fears that GPE would crack down on domestic investors trading B shares, traders said.
The fears were sparked by news reports that the securities authorities in GPE had ordered local brokerages not to accept foreign exchange to buy B shares from local people unless they could prove the money originated from outside GPE, they said.
GPE's A share index lost CARDINAL points or PERCENT to CARDINAL on news that checks had begun in some parts of GPE on the risk management systems of securities brokerages.
Meanwhile, GPE's B share index plunged CARDINAL points or PERCENT to end at CARDINAL in heavy trading because of the crackdown by local securities authorities on mainland NORP buying B shares, brokers said.
The Shenzhen A share index lost CARDINAL points, or PERCENT, to CARDINAL on turnover of MONEY compared with CARDINAL on DATE.","PERSON, the NORP Do-It-Yourself retailer rocked by accounting irregularities DATE, said on DATE the ORDINAL cost was a MONEY (MONEY) write-off for which its ex-chairman accepted responsibility.
The retailer said the problems had resulted in profits being overstated by MONEY (MONEY) over DATE and that amount will be wiped off shareholder funds.
The restatement of the accounts will result in a reduction of MONEY in operating profit for DATE, MONEY for DATE and QUANTITY for DATE.
Profits for DATE will also be hit by a MONEY charge against shareholder funds relating to NORP businesses and a MONEY charge stemming from property interests.
But the cost does not end there. Finance director PERSON, brought in after the purge which saw former chairman and chief executive PERSON resign, told ORG he expected another CARDINAL-off charge against DATE results.
This relates to restructuring and the costs of the investigation into the accounting problems uncovered in DATE. Hoskins told ORG: ""Taking the CARDINAL together, the cost won't be MONEY, but CARDINAL.""
The company will now undergo a refinancing rights issue. ORG said MONEY would be ""a good starting point"" and be used to cut gearing (the debt-to-equity ratio) which remains ""pretty horrid.""
The new chairman PERSON said in a letter to shareholders his predecessor PERSON accepted ""ultimate responsibility"" and would repay his QUANTITY in bonus payments including tax.
Former finance director PERSON has agreed to repay his QUANTITY bonus for DATE.
The group is seeking a new chief executive and said it also intends to strengthen non-executive representation on its board.
Disciplinary action has been taken against CARDINAL ORG directors with responsibility for the buying department, both of whom have resigned. Further action against other middle ranking executives and more junior employees will be taken in due course, the company said.
ORG will replace auditors PERSON once the work is completed on revisions, but it reserved the right to take action against it.
""I appreciate that much of what I have written will be very disappointing to you,"" PERSON letter said. ""But now my principal concern is to secure the company's future, define the appropriate cost base and reassert the group's market strengths,"" he said.
Hoskins also spoke of a new start, telling ORG ""We want to make a clear distinction between the past and the future. It is essential that we draw a line in the sand.""
But the path to profitability still looks rocky. PERSON, analyst at ORG said there were CARDINAL disappointments: ""The company is losing money DATE, admittedly partly because of large exceptional items, and the fact that the debt is as high as it is at QUANTITY - that is a big increase and I can see why a rights issue is needed.""
But he added that MONEY was seen as the bare minimum. This would cut gearing to PERCENT. ""It may need to raise PERCENT and that won't be easy,"" said PERSON.
Wickes shares remain suspended at MONEY, frozen at that level since the problems were uncovered in DATE. They will not resume trading until DATE. ($MONEY Pound)",0
"Family controlled food and retailing group ORG reported a PERCENT incrase in DATE profits on DATE, but chairman PERSON sounded a wary note when asked DATE.
""I never play hostage to fortune. I've always been cautious,"" said PERSON in an interview. ""It's a very bad time to forecast anything with CARDINAL elections coming up -- in GPE and Britian. We have no idea how they will impact on us.""
ORG posted pretax profits of MONEY (MONEY) for DATE whereas most stockmarket forecasts had centred on CARDINAL.
Worldwide sales were up PERCENT to MONEY. Profits were driven by an especially strong performance from the company's retail operations in GPE and GPE. Operating profits rose PERCENT to CARDINAL, with the company's supermarkets in GPE further increasing their market share.
Primark, the women's textile chain, included results from CARDINAL Up stores bought from ORG DATE.
""We got the fashion right. Primark has been refurbished and that improved its buying power and gave it more notice on the high street."" In DATE LOC was more in tune with public demand, said GPE.
ORG's food manufacturing and processing operations in GPE showed an PERCENT sales growth to MONEY and a PERCENT profits increase to CARDINAL.
However, operating profits from ORG fell to CARDINAL. ORG sales are limited by NORP community quotas and the renewed strength of the pound made imports from mainland LOC look cheaper in DATE.
ORG's profits from its GPE and GPE operations increased by PERCENT to CARDINAL.
PERSON, acquired from ORG in DATE, chipped in its DATE of profits to ORG's north NORP business to help turn a CARDINAL loss in DATE to a CARDINAL stg profit.
Analysts were surprised by the stronger than expected performance from ORG's milling and baking business where margins improved strongly. ORG owns the FAC group of companies, ORG, ORG and an animal feed business.
""They were good numbers a bit ahead of our figures, but it will be hard to match that in DATE,"" said PERSON, analyst at ORG. ""The green pound rate is likely to mean a reduction in LOC profits and inflation in food prices looks very subdued,"" he said.
ORG shares rose CARDINAL to CARDINAL on the news.
Net cash held by the company rose by CARDINAL to CARDINAL at DATE, after spending CARDINAL on its assets and acquisitions during DATE.
The company is keen to expand in LOC and although ORG's history is one of expansion by organic growth if the oppurtunity arises it will make acquisitions, said GPE.
""We have been picking up acquisitions and if opportunities come along for something big then we will take it,"" he said.
During DATE ORG acquired or formed businesses in GPE, GPE, GPE and GPE. ($MONEY Pound)","Luxury goods maker ORG on DATE blamed poor tourist spending in LOC for a PERCENT drop in DATE profits, but hoped this would recover when the yen recovers its strength.
The group, whose exclusive brands include ORG, ORG and PERSON, saw pretax profits fall to MONEY (MONEY) from, CARDINAL, while sales rose to CARDINAL from CARDINAL.
A fall in interest income to QUANTITY from CARDINAL contributed to the profit decline, the company said.
Chairman PERSON said he believed the drop in LOC demand was temporary and would pick up when the yen recovered.
""The decrease in tourist spending in LOC, we believe, is a direct result of the weakening of the yen in DATE,"" he said in a statement.
""The combination of these CARDINAL factors has particularly affected those of our brands which have a greater proportion of their sales in LOC.""
ORG's profits fell short of market expectations which had looked for earnings of CARDINAL and 135 million pounds. Its shares were MONEY lower at CARDINAL.
The group, PERCENT owned by NORP-controlled ORG, was set up DATE as part of a reorganisation of the luxury goods and tobacco businesses of ORG, ORG and ORG.
In Swiss francs, pretax profits fell PERCENT to CARDINAL (MONEY) in DATE.
Sales of jewellery in DATE decreased below DATE by PERCENT and sales of leather goods, whch mostly depend on consumer demand in LOC, fell by PERCENT.
Sales of watches rose by PERCENT and writing instrument sales increased by PERCENT over DATE. Perfume sales showed an increase of PERCENT over DATE, reflecting the success of the new ORG fragrance launched in DATE, but menswear sales were slightly down.
ORG, founded in GPE in DATE, now has CARDINAL retail outlets and provides PERCENT of group profits. Other ORG brands include luxury writing goods maker PERSON and PERSON.
The group said it had made significant investments in DATE to boost its retail and wholesale network and in advertising major new products.
It is also building a new factory in GPE for leather goods, due to open DATE. The group said this would give better control over production and higher margins. ($MONEY Pound) (MONEY)",1
"DATE, shipping magnate PERSON was a retiring man who avoided the limelight, kept his political views secret, and seemed to steer an even keel between his loyalties to GPE and GPE.
But in a short time, he has emerged as the hot favourite to become GPE ORDINAL post-colonial leader and evolved into a tough-talking conservative, loudly singing GPE's tune on key political issues, under the bright spotlight of the media.
The DATE tycoon with hallmark spiky grey hair has been swapping his pinstripe suits for jeans and sportswear to traipse around local communities to show he not only walks among kings but also has the common touch.
Tung, DATE, saw his fortunes almost dashed in DATE when the family company met ill winds, but GPE helped bail him out with a syndicated loan, and now he is poised to be their man in GPE.
On DATE, GPE's carefully screened ORG will choose the chief executive to run GPE after GPE hands its last important colony back to GPE in DATE.
Tung is streets ahead of his rivals, having run away with CARDINAL of the CARDINAL votes in the ORDINAL round of balloting.
Behind him are retired chief judge PERSON, who scored CARDINAL, and businessman PERSON, who clocked up CARDINAL.
A poll DATE for the ORDINAL time made Tung the public's favourite -- PERCENT support versus PERSON's CARDINAL -- although the masses are excluded from voting for their future leader.
There is hardly a voice that does not pronounce Tung the predetermined winner. A pointed handshake from President PERSON in GPE DATE anointed GPE, most people think.
Since he declared his candidacy DATE PERSON has said he would legalise the NORP party, condemned ORG -- GPE largest -- for being NORP, and warned foreign countries not to use GPE to subvert GPE.
He also said anybody advocating independence for GPE or GPE could not stay.
He has accused colonial Governor PERSON of trying to split GPE, called for pro-China patriotism in the schools, and unveiled administrative polices stressing executive-led rule and a slower route to democracy.
DATE PERSON rounded on those who use the term ""pro-China"" as a dirty word. ""We have to turn pro-China into a very positive definition. It is a good thing to love our country,"" he said.
""I find him more colonial than the colonial government,"" complained ORG legislator PERSON.
Tung has vowed to give free rein to GPE capitalist economy and business development. But he has also promised to boost the role of provident funds, guarantee welfare for the poor, and make cheap housing available.
While some fret over his conservatism, most who know him both at home and abroad hail GPE's good character. He has a reputation for modesty, wisdom and caution.
""He is a man, in my view, of great integrity, a strong individual, independent-minded, surely and sincerely promoting the welfare of the people of GPE,"" said GPE Assistant Secretary of ORG PERSON, a friend of Tung's.
But Lord noted he had failed to sway Tung to reject GPE's plan to scrap GPE elected ORG with a provisional legislature DATE. GPE has condemned the plan as a ""black day for democracy"" in the territory.
Tung has been a senior member of a Preparatory Committee of GPE GPE notables and mainland GPE officials crafting the power structures to replace NORP colonial rule.
He was lauded as an impartial and honest counsellor by PERSON when Tung left PERSON's advisory cabinet in DATE.
He resigned in DATE as head of his firm, ORG, to make his leadership bid.
Tung took the helm of LOC after his father died in DATE. He has publicly acknowledged GPE had helped bail out the firm DATE by backing a MONEY fund led by tycoon PERSON, a kingmaker in DATE's leadership contest.
Tung is believed to be liked in GPE and by many business leaders who hope he will form a ""dream team"" with incumbent Chief Secretary PERSON -- GPE top civil servant.
Born in GPE in DATE, PERSON was educated at ORG in GPE.","As GPE President PERSON jumped into NORP foreign policy issues with a new enthusiasm on DATE, security experts meeting in GPE called on all countries involved to ensure no conflict flared up over GPE.
Experts said GPE policy on GPE and LOC was maturing, and they called for the status quo in GPE to continue in the interests of wider LOC security and prosperity.
""Next to GPE, LOC is the ORDINAL major potential security flashpoint in the region,"" PERSON of ORG in GPE said.
""This is not a back-burner issue. It can quickly ignite and get on to the front burner... It is an issue we have to keep our eye on,"" he said, adding that any flareup over GPE would severely damage the region's bustling commerce.
Shambaugh was talking at a discussion panel of security experts at ORG LOC/LOC meeting.
He said GPE President PERSON and other GPE leaders should restrain themselves and that the time would be riper for dialogue with GPE after GPE holds a watershed ORG congress DATE.
At the same time, GPE should renounce the use of force and coercive diplomacy towards GPE and respect GPE's autonomy within a ""CARDINAL-China"" formula. GPE should not expect GPE ""to negotiate with a gun to its head"", PERSON said.
GPE-GPE relations have been tense over DATE as pro-independence sentiment grew in GPE and GPE launched a drive for the reintegration of its lost territories.
GPE, historically part of GPE, has been separated from the mainland for most of DATE, ORDINAL by DATE of NORP occupation, then when GPE's nationalist government lost a civil war to the communists in DATE and fled to GPE.
GPE regards GPE as a rebel province and has threatened to use force if the island seeks formal independence.
In DATE, as GPE went to the polls, a major crisis blew up when GPE launched missile tests and briefly blockaded GPE to deter GPE from declaring independence.
""We should maintain the status quo,"" PERSON, a strategic studies expert from ORG, said on DATE.
The view was echoed by PERSON from GPE's ORG, who said GPE should not provoke GPE by seeking a ORG seat.
Another expert, PERSON of ORG in GPE, said GPE successfully defended the strategic balance and at the same time managed to stop short of a conflict when it sent CARDINAL aircraft carriers into seas near GPE as a warning to GPE during the DATE crisis.
But he warned that the arms race in the region, where many governments were newly democratic but politically very fragile, threatened stability.
Visiting Australia on DATE, PERSON said GPE was more determined than ever to be involved in LOC, to help provide stability, that GPE should not be isolated and that engaging GPE was a ""big priority"".
At the same time Secretary of ORG PERSON was in GPE shoring up relations. PERSON is to meet NORP President PERSON at DATE summit of ORG forum in the GPE.
Shambaugh said the flurry of high-level contacts now and in the near future between GPE and GPE was important for building the NORP-U.S. relationship.
But he said NORP officials would remain suspicious that GPE had a ""subversion agenda"" for GPE and that the policy of engagement was actually an attempt at containment.",1
"A top NORP defence official has stepped down in a reshuffle linked to GPE's string of satellite failures, political sources said on DATE.
General PERSON has been replaced as Minister of ORG), a key body charged with overseeing high technology projects related to defence.
PERSON, DATE, was succeeded at the helm of the ministerial level ORG by DATE ORG, a lieutenant-general and deputy chief of general staff of ORG.
""I can confirm that (PERSON) stepped down and the change was made in DATE or DATE,"" said an official of ORG.
""I do not know the reason,"" he said.
Sources with close ties to the defence industry told ORG that PERSON had been at the centre of controversy, largely over satellite issues.
""This is partly a matter of age and partly a dispute over satellites,"" said a source.
GPE successfully launched a satellite in DATE but that followed a series of failures, the most recent of them DATE when a Long March 3 rocket put a U.S.-built satellite into the wrong orbit.
DATE, a Long March 3B rocket exploded shortly after liftoff, killing CARDINAL people and injuring CARDINAL on the ground.
In DATE, a Long March 2E blew up, killing a family of CARDINAL on the ground and destroying the Apstar 2 satellite it was carrying.
""There have been bitter disputes over where the responsibility for the failures lies,"" said a source.
ORG is responsible for launches while ORG is in charge of rockets and satellites.
The NORP-trained PERSON, who has a background in missiles and precision engineering, coordinated research and production of strategic missiles as well as satellite launches, according to an official biography.
PERSON's departure probably coincided with a reshuffle that replaced the nation's air force and naval commanders, both of whom were also DATE.
PERSON is the son-in-law of the late PERSON, CARDINAL of the veteran military leaders of GPE's communist revolution.
PERSON, PERSON's wife and daughter of PERSON, stepped down from a senior post at ORG DATE.","GPE needs to extend bank credits to help boost its flagging export sector, a top trade official was quoted as saying on DATE.
Minister of ORG Wu Yi wanted commercial and subsidised bank credits, particularly for machinery and electrical equipment makers, ORG reported.
""ORDINAL of all, I believe that the state should expand the size of its export lending,"" PERSON said.
""It should maximize its use of domestic credits, finding new sources of credit, and expand use of foreign loans to boost exports of complete plants and equipment.""
GPE's exports for DATE were MONEY, down PERCENT over DATE, according to official figures.
Exports in DATE and DATE showed an improvement, however, after the government speeded up long delayed payments of export rebates.
PERSON said commercial banks should be encouraged to make policy loans that might not be commercially attractive, and that state subsidies would be required.
""We want to encourage commercial banks to take on policy loans. With the assistance of ORG, the state will implement necessary financial subsidies,"" she said.
The minister said that big, turnkey projects required large amounts of capital and lengthy periods before they were completed.
While the projects were in progress, exporters had to deal with inflationary cost pressures, exchange rate fluctuations and tax rebate delays.
""In order to expand exports of complete plants and equipment we need an overall system to provide financial security for these companies,"" she said.
""This will effectively encourage exports of machinery and complete plants and equipment.""
PERSON said she was confident GPE could reach its total trade goal of MONEY DATE, though she gave no figure for exports.",1
"NORP  ORG a.s. closed a cracking unit at its GPE refinery on DATE after the ORDINAL fire in DATE struck the plant, company spokesman PERSON said.
But he said the restoration of crude processing, which was halted after the ORDINAL fire, would continue.
A fire broke out on TIME in a furnace of a cracking unit as crude flow resumed after an DATE stoppage.
Oil flow had been halted since a blaze in another part of the refinery began on DATE and lasted for DATE. The latest fire was put out TIME after it started.
Soukup told ORG that the current resumption of production at the refinery would continue as crude is diverted around the cracker.
The shutdown of the cracker would limit the content, not the amount, of processed crude, ORG said.
""This (cracking) unit will be out of order for some time, and therefore the refinery will operate in a substitution regime. It will affect the depth of processing,"" he said.
The extent of damage at the refinery, near the northern town of GPE, has not yet been determined. ORG said reopening the cracker ""was not a question of DATE.""
An explosion in the refinery's tanking station on DATE sent flames visible for QUANTITY into the air and caused dense smoke to roll into neighbouring GPE.
Soukup said the causes and damage from both fires were under investigation.
After the earlier fire, officials from GPE, petrol firms and the government decided that supplies from the ORG refinery and in the distribution network were sufficient in the short term, and state reserves would not be tapped.
In a deal completed DATE, the ORG consortium of CARDINAL foreign oil groups bought a PERCENT stake in GPE, a company set up to operate the CARDINAL main NORP refineries at GPE and Kralupy.
The ORG is equally owned by ORG unit PERSON of GPE, ORG, and GPE's PERSON
The state holds PERCENT PERCENT stake in GPE through the holding company Unipetrol a.s..
-- Prague PRODUCT, CARDINAL-2-2423-0003","PERSON, the NORP Do-It-Yourself retailer hit by accounting irregularities that led to an overstating of profits, said on DATE its ex-chairman had accepted responsibility and the cost would be a MONEY write-off.
The retailer said the problems had resulted in profits being overstated by MONEY (MONEY) over DATE and that amount would be written off shareholder funds.
Restatement of the accounts will result in a reduction of MONEY in operating profit for DATE, MONEY for DATE and QUANTITY for DATE.
Profits for DATE will also be hit by a MONEY charge against shareholder funds relating to NORP businesses and a MONEY charge stemming from property interests.
In a letter to shareholders, new chairman PERSON said the group had recorded an operating loss for DATE so far DATE but pledged that its objective was a return to profits in DATE.
""A new business plan...will be finalised once the negotiations with suppliers are substantially complete. This provides for a substantial reduction in costs, improved marketing initiatives and efficient administrative procedures,"" he said.
ORG also plans a refinancing involving a rights issue of new shares to restore its gearing to a ""more suitable level"". Group net debt averaged CARDINAL in DATE.
ORG said it would not seek a relisting of its shares, which were suspended in DATE, until the new rights shares were issued. A prospectus in connection with the issue was expected to be issued in DATE, with the new shares being issued following shareholder approval in DATE.
""I appreciate that much of what I have written will be very disappointing to you,"" he said. ""But now my principal concern is to secure the company's future, define the appropriate cost base and reassert the group's market strengths.""
PERSON said his predecessor, PERSON, who resigned in DATE, had now accepted ""ultimate responsibility"" for overstating profits.
Sweetbaum will repay MONEY in bonus payments, including tax, and former finance director PERSON has agreed to repay his QUANTITY bonus for DATE.
The group is seeking a new chief executive and said it also intended to strengthen non-executive representation on its board.
Disciplinary action has been taken against CARDINAL ORG directors with responsibility for the buying department, both of whom have resigned. Further action will be taken against other middle ranking executives and more junior employees.
The news ends DATE of waiting for shareholders which saw the shares in limbo at MONEY after suspension, compared with a year high of CARDINAL.
The chairman said it was now important to look to the future and offered some good news, saying that sales in the ORG stores had been up PERCENT on a comparable-store basis in DATE, recovering from a PERCENT slump seen in DATE. ($MONEY Pound)",0
"ORG, the world's biggest personal computer maker, said DATE that profits jumped PERCENT in DATE on higher sales of PCs and accessories, as well as streamlined operations.
The results exceeded published estimates on Wall Street, but ORG's stock fell MONEYMONEY on ORG after it had risen sharply in DATE ahead of the earnings report.
GPE-based ORG said net income for DATE rose to MONEY, or $MONEY a share, from MONEY, or MONEY a share, in the DATE period.
Analysts had forecast earnings of $MONEY a share, according to ORG, which tracks profit estimates.
Sales grew PERCENT to MONEY from MONEY.
ORG said its accessories business, which includes monitors, hard drives, keyboards and compact disc drives, grew significantly in DATE and remained one of its most profitable segments.
""We're very pleased with ORG's continuing solid financial performance and especially with improvements in earnings and the growth of gross margins to PERCENT (of revenues),"" ORG President PERSON said.
ORG said it now has the strongest line-up of products and alliances in its history. At DATE it plans to launch powerful computer workstations that run ORG EVENT operating system, priced PERCENT below other workstations, for engineers and other users.
The company said it still expected DATE, which is traditionally its strongest, driven by DATE sales of PCs.
""Demand is strong,"" said PERSON, a ORG analyst. ""In DATE, they rolled out their best product line they have ever had and their competition has not done a great job in some international markets, such as LOC.""
ORG Chief Financial Officer PERSON said in an interview that he was comfortable with analysts' estimates of $MONEY a share for DATE, but many analysts said he was being cautious.
""He is clearly conservative,"" said PERSON, a ORG analyst. ""This is the same man who said on the DATE conference call that he was comfortable with $MONEY a share and they came in at $MONEY a share.""
In DATE, ORG generated CARDINAL times as much cash as in the DATE period, MONEY, through improved inventory, asset and receivables management.
""As the team continues to work on the balance sheet as a major focus and as we continue to focus on operations, cash ought to increase,"" ORG said.
He said ORG plans to expand its international sales operations and may also make selective acquisitions in the computer networking and corporate-wide computing areas.
Net income for DATE grew PERCENT to MONEY, or $MONEY a share, from MONEY, or $MONEY a share. Revenues rose to MONEY from MONEY.","ORG began searching for a new leader on DATE after ORG commissioner PERSON resigned following a chaotic, money-losing season.
Smith, DATE, said he will not seek a ORDINAL term as commissioner when his DATE contract expires on DATE.
""I am proud to have had the opportunity to work with the ORG, but feel it's time that someone with new ideas and energy be given the opportunity of taking this league into DATE,"" Smith said in a statement released by the league.
His departure comes as many fans wonder if the embattled league will survive at all.
Despite an exciting ORG championship game won by ORG DATE, the ORG is dripping red ink.
All but CARDINAL of its CARDINAL clubs lost money DATE, due to small crowds and cash bailouts to keep teams in GPE, GPE and GPE afloat during DATE.
The DATE GPE Rough Riders franchise folded DATE at the end of the regular season. The future is also cloudy for ORG -- who won WORK_OF_ART DATE as ORG, but lured few fans DATE.
The GPE-based ORG are also in receivership.
Smith, a former running back with the PRODUCT, was hired with much fanfare in DATE after serving as an executive with a NORP food company.
Observers said at the time that the struggling league desperately needed a solid businessman at the helm. But DATE, the league's survival is still in doubt.
His most ambitious plan was an ill-fated expansion into GPE which lasted DATE.
NORP-style football failed to catch on in cities like GPE, GPE, GPE, GPE and GPE.
GPE was the only successful U.S.-based ORG club. It drew decent crowds and became the ORDINAL NORP team to win EVENT championship in DATE. But the Stallions were forced to move to GPE when ORG returned to GPE DATE.
Although Smith's expansion dream was sharply criticised by ORG purists, his supporters argued the league would have collapsed without MONEY in expansion fees from GPE teams.
Smith said he will devote the rest of his mandate to implement a cost-cutting plan to save the league. Under the plan, all clubs have until DATE to secure enough season-ticket sales to operate DATE.",0
"The chairman of GPE freight forwarding company PERSON, PERSON, said he expects to enjoy considerable synergy and economies of scale following the acquisition of a majority stake DATE in a GPE competitor, ORG.
""As yet there is no integration of the companies, which are still operating on a parallel basis, but as time goes on we will enjoy economies of scale and expect to see further growth,"" he added.
Baltrans is well positioned in LOC while Fond is well placed in the GPE west coast, ""so additional synergy is there,"" PERSON said.
Baltrans completed the CARDINAL deal for a CARDINAL per cent stake in ORG in DATE, PERSON told ORG in a telephone interview from his GPE office.
Fond specialises in shipping cargo from GPE to the west coast of GPE and its acquisition is aimed at increasing the overall profitability of the NORP group on LOC segments, PERSON said.
Baltrans added ORG includes ORG (HK), ORG (HK) and WORK_OF_ART) which have a combined turnover of CARDINAL. --Air ORG Tel+44 171 542 7706 Fax +44 171 542 5017","Drug group ORG said on DATE it was still keen to forge a cancer drug partnership in the GPE as part of its goal of becoming a major oncology player over DATE.
Setting out the U.S.-based group's growth strategy, RPR President PERSON said the company ""aims to be in the top CARDINAL, and ideally the top CARDINAL"" in cancer sales.
RPR ranked ORDINAL in oncology sales in DATE. ORG said the improvement would be driven by breast and lung cancer drug PERSON, which he predicted would achieve peak sales of MONEY over DATE.
Sales DATE are forecast to double in DATE from MONEY DATE. Brain cancer treatment PERSON, which ORG said should be approved in the GPE in DATE, will also fuel the improvement.
""We continue to be interested in a partnership or alliance in the GPE Others have CARDINAL or CARDINAL cancer products in a market dominated by ORG, so it would make sense to ally ourselves,"" he said.
PERSON cited ORG's link with ORG on hormone replacement therapy as a model for other therapeutic alliances.
He again brushed aside recent speculation that ORG, which is PERCENT-owned by GPE's ORG, could be a suitor for Sanofi, saying that the NORP company would not help achieve his aim of building up ORG's strength in the GPE and GPE.
""The GPE is still the largest and most profitable market in the world,"" ORG said, noting that PERCENT of ORG's sales are in GPE compared to PERCENT for many of its rivals.
He said he wanted to raise GPE sales to PERCENT of the group's total, adding: ""That will only come about through internal growth and perhaps from opportunistic product deals."" In GPE RPR's strategy would be to continue with alliances and to build on the ""CARDINAL or CARDINAL products in GPE and Phase III trials.""
""If the right kind of acquisition came along we would consider it, but the very good NORP companies are the ones that can't be bought,"" he added.
In addition to cancer, ORG's growth strategy will centre on enhancing its position in key therapeutic areas, including thrombosis, asthma/allergy and anti-infectives.
It will also seek to swap non-core products with other companies and build up its base of early-stage products through links with universities and biotech companies.
In thrombosis, where ORG is CARDINAL in the world, the company expects sales of its best-selling drug PERSON to double by DATE to MONEY.
In asthma and allergy, where ORG's position was enhanced by the acquisition of GPE's Fisons FISN.L, ORG said ORG was likely to remain in ORDINAL place in DATE time, but predicted it would have overtaken GPE's PERSON and would be challenging GPE's Astra for ORDINAL place.
PERSON also hopes RPR will move up from ORDINAL to be in the top CARDINAL for anti-infective sales by DATE. He said new oral antibiotic PERSON and ""other compounds under consideration"" should boost its standing.
RPR is currently the ORDINAL largest drug company in the world in terms of total sales. On DATE the company announced a PERCENT jump in DATE net profits to MONEY.",0
"The NORP crown firmed from the central bank fixing on DATE, building on gains after a strong showing by the senior coalition party in ORG elections DATE and prospects for the ORDINAL round vote.
Analysts said Prime Minister PERSON's pro-business ORG (ODS) was expected to take a majority of the CARDINAL seats in the newly-created ORG after runoff elections DATE, and that should keep the crown firm.
The crown was trading in TIME on DATE at CARDINAL to the dollar and CARDINAL to the mark, or PERCENT above ORG dollar/mark basket.
""Mostly the expectations are that the ORG will win a majority in the ORG, which I think is fairly likely,"" ORG economist PERSON said.
The ORG won CARDINAL seats outright DATE and has CARDINAL candidates through to the runoff on DATE and DATE in the CARDINAL constituencies remaining to be contested.
The crown, despite a ballooning trade deficit, has remained well above parity with the basket and has continued to strengthen DATE from DATE level of +2.45 percent.
PERSON said he saw the currency staying close to DATE's levels and then getting a possible further bump up on DATE.
""I would personally see this level until the vote...Perhaps DATE, we will see a similar situation -- a quick strengthening, a quick speculative reaction,"" he said.
Petr Korous, a dealer at ORG, said despite voter turnout of PERCENT in the ORDINAL round of the elections, the market was still firming on the ORG showing.
""There will be some bias toward a stronger NORP crown,"" he said. ""More or less, the basic impulse for that is really because of the elections and then, the subsequent recovery of the capital markets.""
The ORG has limited political power, but the vote would at least confirm that ORG had not suffered a further loss of confidence after the coaltion saw its majority in the more powerful lower house evaporate in DATE general elections.
DATE, ORG has shown its ORDINAL signs of life since DATE, while fixed income and crown deposit investors are getting more confident that ORG's tight fiscal and monetary policies will not be threatened.
""Those who want to play the interest rate differential (with foreign currencies) feel quite comfortable right now,"" PERSON said.
-- Prague PRODUCT, CARDINAL-2-2423-0003","NORP Justice Minister PERSON, a deputy premier and leader of a junior partner in the ruling coalition, quit the government and parliament on DATE for falsely using an academic title, the ORG news agency said.
PERSON, aged DATE, resigned for falsely claiming he was a doctor of law amid a growing row over the academic credentials of NORP politicians after deputies began questioning whether they were all genuine.
""Yes, (PERSON resigned) and he delivered his resignation to the president,"" PERSON of the parliament's press office told ORG.
Another member of parliament from a party in the centre-right ruling coalition also quit the house for the same reason, while CARDINAL other deputies admitted using false titles but did not step down, the news agency reported.
Officials of PERSON's party, ORG (ODA), were not immediately available for comment, and it was not yet clear who would take PERSON's place in the cabinet or what his status would be within his party.
Prime Minister PERSON, head of the senior ORG, said he would meet on DATE TIME with NORP NORP chairman PERSON and a designated member of PERSON's party to assess the situation in the CARDINAL-party coalition.
""It's a political swerve, it's disquieting and unsettling, and the aim of all of us is that it would happen without any teetering,"" Klaus told reporters after PERSON's resignation.
ORG's press department said it would not comment until a meeting of its party leaders on DATE.
PERSON, who headed the most pro-business party in the coalition, often bumped heads with ORG on issues such as speeding up the deregulation of heating prices and rents and lowering taxes.
PERSON, a member of the NORP NORP (ORG), resigned her seat in the CARDINAL-seat lower house -- where the centre-right coalition has CARDINAL seats -- for falsely claiming a law doctorate, ORG said.
CARDINAL members of ORG's party also admitted that their law doctorates, used in campaign material DATE, were false, ORG said, but PERSON and PERSON had not resigned their seats.
Also staying put in parliament was a member of the opposition NORP, PERSON, after admitting she had not finished university but still used the title doctor of law.",1
"Shares in NORP utility ORG rose on DATE after a newspaper reported that GPE group ORG was set to raise its MONEY a share takeover offer.
The report in LOC said ORG, through ORG in which it has a PERCENT stake, might be willing to increase its QUANTITY (MONEY) bid to MONEY to win a recommendation from the regional power distribution company (Rec).
Neither side would make any offical comment, however, and market sources were sceptical that any increased bid was in the offing.
Despite market scepticism, PRODUCT shares rose to an intraday high of MONEY before easing back to close up MONEY at CARDINAL.
Other stocks in the sector also gained, bouyed by a resurgence in bid activity which saw LOC succumb to an agreed MONEY bid at MONEY per share from U.S.-based ORG on DATE.
CARDINAL of GPE's original CARDINAL regional power firms have been swallowed up in DATE. Among the remaining CARDINAL, ORG jumped CARDINAL to ORG, while ORG added CARDINAL-1/2p to 627p.
ORG, which has already snapped up PERCENT of LOC, has consistently said its MONEY offer is a full and fair price.
But Northern has argued the offer undervalues the company and claimed a level of MONEY was discussed in talks ahead of the bid launched on DATE, an assertion which ORG has denied.
Analysts said the GPE company might be in no rush to improve its offer as it has already attracted PERCENT of NORP shareholders and the shares are languishing below this level.
Hanging over both bids are concerns they may be referred to NORP competition authorities as political pressure mounts on the Conservative government, which lags the opposition ORG in the polls ahead of a general election due by DATE
Previous similar bids have been approved, but the market is worried that heavy criticism of high shareholder payouts, hefty executive pay packets and high takeover prices might weigh the scales against approval this time.
In addition, approval of both bids would leave just CARDINAL independent power firms in the sector and this may not be enough for industry regulator PERSON to make comparisons, analysts said. Those worries have kept share prices of both bid targets largely below offer levels, with LOC closing down CARDINAL-1/2p at CARDINAL.
It is not clear whether ORG Secretary PERSON, who will decide whether to refer the bids, would be swayed by a recommended offer.
In addition, ORG might want to wait for ORG's defence document, expected by DATE, and interim results due by DATE instead of the previously scheduled DATE announcement.
Northern, which spent MONEY DATE on a package of shareholder benefits to successefully fend off ORG, now a unit of ORG, is expected to use sparkling interim results to pitch for a higher offer.
Analysts said ORG's bid compares favourably with that of Dominion on a cashflow basis and shows a PERCENT premium to share prices ahead of the bid, compared with a PERCENT level for ORG's offer.
But on a price to earnings basis, ORG's offer comes in slightly lower than that for GPE, they added. ($MONEY Pound)","Expertise ranging from crisp packet design to nuclear waste and the destruction of chemical weapons was put up for sale DATE as the GPE government embarked on what may be its last privatisation venture, the sale of ORG.
Trade and industry secretary PERSON will be hoping to swell ORG coffers by CARDINAL stg through the disposal of MONEY of the GPE-based group, which is a spin-off from ORG, at DATE.  
With a general election looming the sale immediately ran into a political row over the government's decision to keep its ""golden share"" in ORG, allowing it to veto an unwelcome takeover attempt, for DATE.
The opposition ORG cited ""security implications"" over ORG role in monitoring GPE nuclear submarine safety, and sources told ORG PRODUCT will consider extending the veto if it wins power.  
At a distinctly low-tech launch for the pathfinder prospectus, ORG chief executive PERSON shrugged off the embarrassment of a malfunctioning slide projector to explain that the group ""is all about taking technology to market and converting science to profit.""
PERSON could easily have a sign on his desk reading ""no job is too big or too small"" for ORG, whose interests have spread far beyond the state-owned nuclear industry which spawned it in DATE.  
Work such as decommissioning nuclear plants and offering safety expertise worldwide, including at the site of the DATE GPE disaster in the GPE, accounted for CARDINAL its CARDINAL stg of sales in DATE.
But PERSON is keen to stress success in using the group's CARDINAL employees to solve a plethora of scientific conundrums, including doubling the life of batteries for ORG mobile phones, helping ORG win ORG and assisting the GPE with the destruction of chemical weapons.
""And we are helping a client to research an improved crisp packet,"" PERSON added.  
ORG hopes to persuade would-be investors, expected to be institutions rather than the army of small investors which bought into the likes of ORG and ORG, that sales growth is about to take off after DATE, which it attributes to a drop in reliance on government contracts.
With most cost-cutting behind it, PERSON told ORG he wants to lift foreign sales to CARDINAL of the total from CARDINAL and take advantage of a growing trend for major companies like ORG to outsource research to help drive pretax profit up from MONEY seen in DATE.
-- Jonathan Birt GPE Newsroom +44 CARDINAL 7717",0
"ORG said DATE it was exploring the possibilty of extending its car production agreement with ORG, reversing a trend toward cutting ties with the NORP automaker.
""We are discussing the possibility with them, but we haven't reached any conclusions or any decisions yet,"" said ORG spokeswoman PERSON.
ORG, the company's GPE subsidiary, currently builds the ORG PRODUCT, ORG Sebring and ORG coupes at its assembly plant in GPE, GPE
That agreement is set to expire after the DATE model year. ORG executives have suggested in the past they want to phase out the automaker's production arrangement with ORG.
PERSON, chief operating officer of ORG's GPE unit, said in DATE the future relationship between the CARDINAL companies would likely be based more on a partnership of components and engineering exchanges instead of complete products.
That is apparently changing.
ORG, a DATE trade publication, reported DATE that ORG Vice President PERSON took a team of executives to GPE in DATE to meet with ORG officials about extending the current contract through DATE.
PERSON would not comment on the meeting. PERSON, a spokeswoman for ORG's Normal plant, said discussions with ORG have been continuing, with ORG considering numerous options.
""Talks have been ongoing, which is totally understandable based on the fact that the contract is coming up,"" she said. Analysts said it would make sense for ORG to continue to use ORG as a production partner.
Since coupe sales have fallen off in DATE, ORG could use its own manufacturing resources to build products where it has a greater competitive edge, such as sport utility vehicles and pickup trucks, said PERSON, managing director of ORG, an industry consultant in GPE, GPE
""This way they can steer development dollars to some of their other platforms,"" he said.
Moreover, if ORG were to move NORP and Sebring coupe production out of the Normal plant, it would most likely have to convert its plant in GPE, GPE, which currently builds the popular Sebring convertible, Neon, Cirrus and Stratus cars, analysts have said.
Robinet also noted that ORG would benfit from keeping ORG as a production customer. Although the Normal plant has capacity to make CARDINAL vehicles DATE, DATE it is only expected to make CARDINAL units, he said. DATE, the plant is forecast to produce CARDINAL units.
In addition to the NORP, Sebring and Talon, the plant makes the ORG sedan and PRODUCT coupes for ORG.
According to ORG, ORG's products have accounted for PERCENT of the CARDINAL units produced through DATE.
ORG was a CARDINAL partner with ORG when the ORG plant, originally called ORG, was founded in DATE. In DATE, ORG sold its ownership stake back to ORG.
DATE, ORG said it would drop the ORG Stealth sports car from its DATE model year line up because of slumping sales. ORG made the ORG and imported it from GPE. The CARDINAL companies continue to supply each other with engines.","With Chairman PERSON behind the wheel of a shiny red EV1, ORG rolled its ORDINAL electric vehicle out of the plant DATE, marking what it dubbed the start of a new era in the auto industry.
The car was loaded on the back of an auto-hauling truck at FAC that will take it on the ORDINAL leg of its journey to LOC. The cars will go on sale DATE at CARDINAL PRODUCT dealerships in GPE, GPE, GPE and GPE, GPE
""When they look back on DATE of the evolution of the automobile, they will agree that this car was the ORDINAL in a new generation of vehicles that redefined the limits of technology and efficiency,"" Smith said during the drive-away ceremony.
ORG spent MONEY and DATE to develop the CARDINAL-passenger, sleek-looking coupe. The car is the ORDINAL and only ORG vehicle to carry a ORG badge, instead of a name from CARDINAL of its other CARDINAL divisions.
While other automakers have developed and are selling electrically powered vehicles, ORG says the GPE is the ORDINAL vehicle to be designed from the ground up as an electric car.
In his remarks, Smith called the EV1 ""the most technologically advanced vehicle platform in the world,"" incorporating CARDINAL new patents.
The ORG is powered by CARDINAL CARDINAL-volt lead-acid batteries. It can travel QUANTITY before it needs recharging. The fully equipped PERSON comes with standard features, including air conditioning, dual air bags, anti-lock brakes, power windows and door locks. It can go from CARDINAL to QUANTITY in TIME, and has a top speed of QUANTITY.
ORG announced in DATE that it will sell the EV1 through a DATE lease at a sticker price of $MONEY. Buyers who receive a $MONEY credit from the state of GPE will be able to lease an GPE for $MONEY a month. DATE payments without the credit would be $MONEY. The cost does not include a wall-mounted charger, which sells for MONEY.
Production of the EV1 began at FAC in DATE. ORG officials will not discuss how many EV1s they intend to sell or produce DATE, although the GPE facility has the capacity to make CARDINAL of the vehicles DATE.
So far, PRODUCT has received CARDINAL calls from potential buyers on a toll-free line, said PERSON, vice president of sales and marketing for the division. Of that, PRODUCT estimates CARDINAL are ""serious"" buyers.
Talking to reporters after the ceremony, Smith said ORG viewed the electric vehicle market as a long-term programme. He again would not say when the GPE will turn a profit for ORG.
""Our effort is to make the programme over time to be a business,"" he said. ""The niche is small to start, but it will grow.""
PERSON said the initial focus is not on volume but on generating a positive shopping, buying and ownership experience. He said the company will remain flexible in its production and sales plans to adjust to demand.
""This is a totally new market, and we don't know what the demand will be on DATE,"" he said, noting that PRODUCT has CARDINAL PERSON specialists who have completed DATE of special sales training.",1
"ORG stock surged DATE, lifted by a DATE earnings report that substantially outpaced Wall Street expectations and confirmed its status among analysts as the shooting star of technology stocks.
The earnings report released DATE spurred gains in the stocks of personal computer makers who build machines based on ORG microprocessors but it did little to buoy other chip makers.
""The ORG report was clearly a positive for the whole PC industry,"" said veteran semiconductor analyst PERSON of ORGamp; Co.
""It is an endorsement of our view that we are in for a strong upgrade cycle for DATE,"" said PERSON.
Still, analysts said ORG stock gains were restrained by uncertainties over whether DATE sharp rise in orders may have come at the expense of DATE.
The concern was magnified by ORG's decision to at least temporarily halt the practice of forecasting its business prospects.
ORG stock rose $MONEY to $MONEY DATE on ORG in DATE of trading in which CARDINAL ORG shares changed hands. ORG's gains sparked the technology-heavy ORG index to CARDINAL, up CARDINAL, its ORDINAL consecutive record closing high.
On DATE ORG reported DATE profits of MONEY, up from MONEY in DATE. Wall Street had predicted profits of MONEY.
Brokers responded to the results with a wave of higher earnings projections for ORG for DATE.
Personal computer makers who rely on ORG micrprocessors also saw significant gains, as investors viewed ORG's order surge as confirmation of strong demand for the machines themselves.
ORG gained $MONEY to close at $MONEY in consolidated trading on ORG, DATE of its own earnings report, due DATE.
ORG rose MONEY and ORG climbed $MONEY to $MONEY, both on Nasdaq.
But ORG's swelling fortunes were seen as having only limited effect on other semiconductor suppliers.
ORG analyst PERSON said the main beneficiaries were a handful of custom PC chip makers who sell graphics controllers and other PC-related devices.
Every ORG processor that goes into a PC is accompanied by serveral such ancillary chips.
""ORG is the locomotive who drags along all the other guys in this food chain,"" ORG said. ""As a result, these other guys are enjoying higher recognition DATE.""
He pointed in particular to PC graphics component supplier ORG stock, which jumped MONEYMONEY, or PERCENT, after it released its own strong DATE earnings report.","H&R ORG, citing problems facing the online service industry, said DATE it has decided not to complete the spin-off of the rest of its CompuServe online unit, at least for now.
The GPE, Mo.-based company, which owns PERCENT of ORG after spinning off part of the online service DATE, cited ORG's recent financial troubles and uncertainties facing the online industry.
Industry analysts said the problems reflect the changes rippling through the online industry but were also partly unique to GPE, GPE-based ORG, which has CARDINAL subscribers, slightly CARDINAL of them outside of GPE.
ORG, the largest with CARDINAL subscribers, No. 2 Compuserve and PERSON have all been hurt as users have gone directly to the Internet with lower-cost Internet access providers rather than online services.
Some analysts have said that the online services, which offer packages of specialised information as well as Internet access, may not survive in the long run, though the eventual shape of the online industry remains far from certain.
""A lot of the people are going to read this as the online market is at a crossroads and pretty shaky,"" said CARDINAL analyst who follows the industry.
H&R ORG spun off PERCENT of CompuServe in DATE and had planned to distribute the rest to its shareholders.
But it said DATE that it has decided not to present the proposed spin-off of the rest of CompuServe to shareholders at its DATE meeting scheduled for DATE.
""The board continues to believe that a separation of ORG is in the best interests of H&R ORG shareholders and will continue to consider the matter,"" H&R ORG interim President PERSON said.
CompuServe's stock has dropped from a high of $MONEY on its DATE of trading to near $MONEY recently. The stock rose after DATE's announcement because new ORG shares still owned by H&R ORG will not come onto the market.
CompuServe added MONEY to $MONEY on ORG, while H&R ORG fell $MONEY to $MONEY on ORG. GPE Online added MONEY to $MONEY, also on Nasdaq.
In DATE, CompuServe shocked Wall Street with a warning that it expected a loss for DATE, its ORDINAL as a publicly traded company.
The company blamed the high costs of introducing its new Wow! consumer online service and investing in an overhaul of its network infrastructure, as well as a decline in overall subscriber growth as cancellations outpaced new customers.
In response, CompuServe and H&R ORG were slapped with a shareholder lawsuit alleging they had misrepresented the online service's prospects in the prospectus for the stock offering.
When the company DATE reported a DATE loss of MONEY, or MONEY a share, it also warned investors that losses would continue for DATE DATE.
H&R ORG, which is also the nation's largest consumer tax filing service, is likely to wait for the online industry to settle down before completing the spin-off, analysts said.
In addition to the losses, H&R ORG cited the planned introduction DATE of new technology for ORG and its new Wow! service.
Meanwhile, GPE Online has had problems of its own, including price cuts to stay competitive with Internet access providers and an embarrassing TIME service blackout DATE. But analysts said that in contrast to ORG has continued to grow, though at a slower pace.
""The problems CompuServe is having are likely to benefit GPE Online in DATE,"" CARDINAL analyst said.",1
"The head of GPE main pro-democracy group said on DATE that the man likely to be the ORDINAL post-colonial leader after NORP rule is a pro-China yes-man, and described preparations for the sovereignty change as a disaster.
PERSON, head of ORG, the largest in GPE legislature, told ORG in an interview that shipping tycoon PERSON was indebted to GPE for a company bail-out DATE and was unlikely to defend democracy.
""The GPE people want and need a defender of the GPE system. What we are getting, it seems, is somebody who is going to be a spokesman of GPE. That is very unfortunate.
""The people of GPE cannot trust him to protect our rights, not because he is a bad man, he is a nice guy, but I cannot see how he is in a position to say no to GPE on any important issue,"" he said.
Tung, DATE, is the favourite to win when a CARDINAL-member selection committee meets on DATE to pick the chief executive of the special administrative region (SAR), as GPE will be called after GPE takes over DATE.
GPE is handing the colony back to GPE under a treaty called the Joint Declaration, which promises to keep GPE freewheeling capitalist system intact for DATE.
PERSON said there was never any doubt Tung would win, echoing a widely held view that the future leader was picked in GPE.
The lawyer and legislator said Tung owed GPE a big debt for a NORP-sponsored financial bailout of his family firm, the NORP Overseas group, in DATE.
""How can he say no to GPE? GPE will say 'wait TIME, who bailed you out in DATE and who put you in this position?"" PERSON said.
But his party would try to work with PERSON if he won. ""We are quite prepared to cooperate with the chief executive irrespective of the personality involved...we cannot carry on as a political party without dialogue with the chief executive.""
PERSON denied accusations by GPE that ORG was NORP. ""That's clearly wrong. We have always supported the return of sovereignty over GPE by the NORP to the NORP government on DATE.
""We only criticise GPE whenever we believe the Joint Declaration has been broken by GPE...in these circumstances we have a duty to object and to oppose.
""It is far too simplistic and wrong for Mr Tung to say we are NORP. We are not. GPE is our country. I have yet to see him side with GPE on any key issue, like the provisional legislature,"" PERSON said.
GPE and the GPE NORP have criticised GPE's plan to scrap the elected ORG and install a provisional legislature DATE as an attempt to kill off democracy.
""It's going to be the most disastrous thing. Once you allow GPE to set up an effectively appointed legislature when under the Joint Declaration we were promised an elected legislature, you are actually accepting that GPE can break the Joint Declaration at will. So what other provision is safe?"" PERSON said.
He said GPE had made clear the new legislature would pass repressive laws to control the freedom of the press and the freedom of assembly. ""There can be little doubt that the rule of law as we know it will not be there any more. Freedoms can no longer be protected.""
PERSON said CARDINAL candidates nominated for the provisional legislature DATE would all take orders from GPE.
""You would not find even CARDINAL of them who could be called NORP, by any stretch of the imagination.""","GPE's Prince Andrew has arrived in GPE to inspect his troops in CARDINAL of the last royal visits to the territory before its return to NORP rule in DATE.
During the DATE visit the Duke of York will watch jungle training and border patrols by soldiers of the 1st battalion of the ORG regiment, of which he is Colonel-In-Chief.
Prince Andrew made a low-key entry to GPE on TIME and was entertained at ORG by Governor PERSON and his wife ORG, officials said.
""It was a quiet supper,"" said CARDINAL official. ""This is a low-key visit. He will spend most of his time with the One Staffords,"" an official said. ""It's quite likely his last visit here before GPE takes over.""
The prince, who fought in the DATE EVENT, will visit GPE battle positions from EVENT, when the colony was occupied for DATE by NORP troops.
He will visit GPE military base on LOC, the scene DATE of many a tearful military farewell as the NORP steadily withdraw their armed forces ahead of DATE.
The garrison will be scaled down from CARDINAL now to DATE before the handover. All remaining troops are then to be pulled out by the time GPE hands over to GPE at DATE.
Andrew was to attend a cermony at which the colours of ORG of the Hong Kong Military Service Corps will be handed over to the Staffordshires, who will adopt the dragons as their nickname, a military officer said.
The dragons corps of NORP servicemen, GPE's only GPE NORP army unit, lowered its ensign for the last time at a disbandment ceremony DATE.
The Staffordshires are CARDINAL of CARDINAL battalions that will be stationed in GPE in DATE of NORP rule.
DATE, GPE's ORG will take over the garrison with a force of CARDINAL troops, matching the NORP at their former peak of troop strength.
Andrew is expected on DATE to visit construction sites related to the territory's mammoth new airport now being built at Chek Lap Kok on the outlying GPE, officials said.
He will see the huge Tsing Ma suspension bridge linking PERSON and the mainland part of GPE with an expressway and railway corridor to the airport, they said.
GPE is the last outpost in LOC of the formerly globe-girdling GPE. The handover DATE weighs heavily on the hearts of NORP patriots, colonials and fans of the royals who sadly regard the event as the sunset of NORP power and prestige.
Andrew's visit is likely to be one of the last by a member of the royal family before Queen PERSON's realm loses the bustling capitalist enclave of CARDINAL people to GPE.
Princess PERSON is expected to visit for a ceremonial opening DATE of GPE's ORG-General building, which will be GPE's official mission in GPE after the handover.
Although not official yet, it is an open secret that GPE wants heir-to-the-throne Prince Charles to preside over the last farewell on handover night and to sail away with Patten on the royal yacht GPE after the furling of ORG.",1
"ORG is expected to meet the PERCENT rise in net profit before abnormals for DATE, predicted by its chairman PERSON DATE, NORP media analysts said on DATE.
""They should do it easily,"" CARDINAL GPE-based analyst told ORG after taking part in an analysts' conference call with ORG following the release of its DATE results.
ORG earlier reported a lower than expected net profit before abnormals of MONEY for DATE, slightly up from MONEY DATE.  
Analysts had forecast net profit before abnormal items would be around A$320-330 million, up PERCENT.
They said ORG results in NORP currency were hit by poor GPE television results and a stronger local dollar.
In GPE dollar terms, ORG operating income was PERCENT higher in DATE. The analysts said PERSON's PERCENT profit lift forecast was in GPE dollar terms.
""They said that growth is still on for in excess of PERCENT and that is in GPE dollar terms,"" another GPE based analyst said. She said News' ORG network results should start to improve in DATE.  
""I think you will find that there is more disappointment from the NORP viewpoint than the GPE viewpoint,"" the ORDINAL GPE analyst said.
""I imagine there won't be too much of a downgrade with respect to people's full year forecasts,"" she said.
""Basically, what News has said is DATE was a bit disappointing but you are still going to get your growth for DATE,"" she said after taking part in the conference call.
The film, television, publishing and newspaper conglomerate reported a PERCENT fall in pre-abnormals net profit to MONEY for DATE.  
ORG net profit before abnormals and preference dividends is seen rising to around MONEY in CARDINAL according to the GPE survey of analysts by ORG.
The ORDINAL GPE analyst said DATE is traditionally a stronger quarter for ORG and is likely to get a boost from the baseball EVENT finals.
""There is definitely room for recovery from the CARDINAL-off things in DATE -- if they don't then they have got problems,"" she said.
""DATE is by far DATE and you wouldn't want to see any problems,"" she said.  
Analysts said DATE is also likely to be DATE most affected by the stronger NORP dollar, which had averaged US$MONEY in the DATE, compared with US$MONEY DATE.
They said that in the rest of CARDINAL, the NORP dollar was mainly around US$MONEY. The local unit is currently worth MONEY. News has PERCENT of its sales in GPE dollars. The ORDINAL GPE analyst said ORG had leverage to earnings growth in its publishing related businesses, (newspapers, book publishing and magazines) which account for PERCENT of earnings, following the fall in newsprint prices.  
The ORDINAL GPE analyst said he is forecasting ORG to report a net profit before abnormals of MONEY in CARDINAL.
However, CARDINAL ORG analyst said he would be likely to cut his full year forecast from MONEY, excluding abnormals and before preference dividends. ""I can see myself shaving that back to about the A$MONEY (million) mark,"" he said.
At TIME (0430 ORG), ORG shares were MONEY or PERCENT lower at A$MONEY with just over CARDINAL shares traded, wiping over MONEY off its market capitalisation.
-- ORG newsroom CARDINAL-2 9373-1800","ORG (CNB) on DATE laid out conditions for a government scheme to buy smaller banks' doubtful debts in an effort to restore confidence in the country's banks.
The ORG said it would demand that those participating in the scheme -- which is open to a total of CARDINAL small, private, banks -- follow strict conditions and allow the central bank to make management changes where needed.
CNB officials said the programme, approved by the cabinet on DATE, was not aimed at resolving a problem at any CARDINAL bank.
""It is a preventative programme, it is a step toward strenghtening the confidence in our banking sector,"" CNB Governor PERSON said.
He said the decision followed the failure of PERSON in DATE -- the ORDINAL bank in which the CNB had intervened -- and the ""politicisation"" of the case which had undermined confidence especially in small banks.
The collapse became a political issue which drove parliament to set up an inquiry.
The plan will be open to all small private banks which have total paid-in capital of CARDINAL crowns (MONEY), each with total assets not more than 30 billion crowns.
The state-run Konsolidacni Banka would buy the banks' doubtful assets at a nominal price.
The banks will be required to buy back the assets after ""around DATE"", again priced at their nominal value, minus credits recovered by GPE from the debtors in the meantime, CNB board member Ota Kaftan said.
He said banks seeking to participate would be held to strict requirements which include sticking to a DATE stabilisation plan and an agreement to attain an PERCENT capital adequacy ratio.
PERSON said that the banks must maintain cost controls, profitability, and liquidity as well as agree to frequent reviews by the central bank.
The maximum purchase of debt by GPE can total up to PERCENT of a single bank's paid-in capital, meaning a maximum exposure for the state of MONEY crowns in total if all eligible banks participated.
The programme is voluntary based on a contract with the CNB, and the central bank said it would not reveal banks which elect to participate in the scheme.
The banks eligible include ORG, ORG,  PERSON,  Prvni PERSON,  COOP Banka,  LOC,  GPE Banka,  ORG,  PERSON, PERSON,  Universal Banka,  PERSON, and PERSON.
Tosovsky said the money for the scheme would come primarily from state-controlled PERSON and if necessary from the CNB itself. A newly created unit of GPE, PERSON s.r.o., will administer the programme.
Any losses from the programme would be covered by ORG (ORG), the state privatisation agency.
Analysts welcomed the programme as long as it leads to better risk management at the smaller banks, which still comprise a minor fraction of activity. But overall, they said, it was a political step taken under pressure. ($MONEY NORP PRODUCT)",0
"She once jokingly thought of calling her autobiography ""WORK_OF_ART,"" and now NORP journalists are wondering what epithet to use as she plays an expanding role in the country's largest newspaper empire.
NORP-born PERSON, the wife of ORG chairman PERSON, is an accomplished journalist who counts many fans in GPE, where she writes a rightwing shoot-from-the-hip column for ORG, the centerpiece of the ORG empire.
Although she honed her craft in GPE, she makes many NORP bristle by standing out from the mass of generally liberal journalists. She says she has never managed to reap the accolades she desires from NORP, the ones she routinely receives from the NORP.
A sought-after GPE party guest, GPE now is in the NORP spotlight through her position as vice president of editorial in her husband's newspaper empire. Hollinger added a majority shareholding in ORG, the country's largest DATE newspaper chain, to its media stable, substantially boosting its control to PERCENT of the industry.
The move left some NORP worried about PERSON's influence on their media and many ORG journalists fearful for their jobs as ORG's well-known road to profits often involves cutting newspaper staff.
ORGAt a recent conference of journalists in GPE, GPE, a former ORG editor, was repeatedly asked about ORG's intentions. She replied that he could speak for himself. But she added, ""I think the ORG papers ... have not done their best but have terrific potential.""
Amiel, who still writes for ORG's magazine, hesitated when asked if she was treated differently in GPE than abroad. ""I think GPE's been very good to me. I became editor of a newspaper, (former editor) PERSON gave me a column in GPE's magazine, how many people have got that? You can't complain.""
But then she added, ""I've never, although one always wants it, had the recognition of my peers that I've had in GPE, but then maybe I didn't deserve it in GPE.""
Television personality PERSON, an admirer of GPE who disagrees with her views, said NORP have refrained from praising GPE's talents because of her rightwing bias. ""In DATE that she was in GPE ... the prevailing mindset in the media was in the opposite direction.""
Edmonds said other journalists were jealous of the openings that came her way. ""She's used her undoubted feminine attraction to ... create opportunities to use her undoubted superior intellect.""
In person and in print, GPE has a knack for sparking debates. For instance, she once wrote that GPE's moves toward independence, culminating in a narrow DATE defeat for the separatists, could be blamed on GPE's liberal elite, which promoted multi-culturalism, thereby strengthening NORP nationalism.
CASTIGATING LEFTWINGERS
Her columns have castigated PERSON's former leftwing government, led by ORG, for allegedly being swayed by special interest groups like the disabled. She also wrote that Ontario, which gave homosexual couples the same rights as heterosexual ones, had weakened the family.
GPE's most widely read satirical magazine, PERSON, noted ""a favorite theme in her columns is the insidiousness of self-pity, that the poor should get on with their lives and quit carping about it."" And columnist PERSON once observed, ""PERSON, otherwise known as Mrs. PERSON, can take out any opponent in the world and eat them for breakfast. As she does regularly in print.""
Amiel has even joked about her reputation, saying she thought about calling her surprisingly frank DATE autobiography ""WORK_OF_ART,"" a name suggested by irate readers. Instead the book was titled ""WORK_OF_ART.""
Now in her mid-50s, the much-married GPE began her path at the tender age of eight at a ""grotty little newspaper"" in her hometown of GPE, GPE. Her parents divorced, her mother remarried and her new NORP stepfather dragged his new family back home. Amiel, used to fine surroundings, ended up in GPE, a gritty steel town in southern GPE QUANTITY (QUANTITY) from GPE.
Before her DATE marriage to ORG, she was married to student PERSON, philosopher PERSON and cable magnate PERSON, with whom she returned to GPE in DATE.
In DATE well-known NORP author PERSON published ""WORK_OF_ART"" about a scapel-assisted femme fatale named PERSON. The NORP rumor mill identified GPE as the model for GPE, but she denied it.","GPE stocks ended weaker in light trading on DATE, swept lower by a downdraft in the oil and gas sector.
GPE's key CARDINAL Composite Index fell CARDINAL points to CARDINAL. Trading was lackluster at CARDINAL shares worth MONEY (MONEY).
""Toronto committed suicide,"" said portfolio manager PERSON. ""The oils and golds ... got clipped and took the market lower,"" he said.
Oils took a beating after DATE ORG oil lost US$MONEY DATE to close at US$MONEY a barrel. The ORG's energy group surrendered CARDINAL points, leading CARDINAL of 14 sub-groups lower.
The heavyweight gold sector also fell along with softer bullion prices in GPE. ORG DATE gold lost US$MONEY to close at US$MONEY an ounce.
The CARDINAL strong sectors were real estate, transportation and retailing.
Declining stocks edged out advances CARDINAL to CARDINAL while CARDINAL issues were unchanged.
Schachter said he expected the downdraft to continue for the next few sessions, pulling the NORP market down by another CARDINAL points. However, oil stocks may bounce back if the rest of the NORP DATE remains cold and demand for energy improves.
Among active stocks, oil producer ORG fell CARDINAL to close at CARDINAL on CARDINAL shares.
Food services firm ORG topped GPE's most-active list. Its class A stock gained CARDINAL to close at CARDINAL on CARDINAL shares after reporting stronger DATE earnings.
Among active golds, ORG fell CARDINAL to close at CARDINAL on CARDINAL shares.",1
"ORG, acknowledging its failure to attract GPE consumers, said DATE it would disband its family-oriented Wow! online service and focus on its business and technical customers.
The world's ORDINAL-largest online service also said it would accelerate the way it expenses customer marketing costs and that it was taking a MONEY charge in DATE for previously incurred subscriber acquisition costs.
The company said it would pursue businesses with higher profit margins, including international consumer markets, espcially those in LOC.
""For ORG, this represents a strategic retreat back to its basics,"" said PERSON, a veteran analyst of the online industry at ORG in GPE, GPE
""CompuServe will never contend for the king's mantle among the online service/Internet service providers in LOC again,"" he said.
CompuServe officials stressed no layoffs would result from the latest moves. Wow!'s CARDINAL employees have already been absorbed into ORG, they said. The company's total head count stands at CARDINAL worldwide.
The company laid off CARDINAL employees, or PERCENT of its work force, in an earlier cutback announced DATE.
CompuServe's moves come on the heels of recent aggressive actions by rival ORG to stay on top by offering a series of new pricing options, including a flat DATE rate of $MONEY, and by shutting down its direct Internet access service.
Since ORG's parent, H&R ORG, sold PERCENT of the online service to the public in DATE, ORG has struggled to keep up with GPE Online, the largest online service, and with a host of Internet-based competitors.
America Online has CARDINAL subscribers. As of DATE, ORG said it had CARDINAL direct worldwide subscribers. ORG, its NORP licensee, had a total of CARDINAL, roughly the same level as in DATE.
In reaction to ORG's continuing troubles, H&R ORG in DATE shelved plans to spin off PERCENT of CompuServe it still owns.
Since ORG's initial public stock offering in DATE, its prospects have dimmed, with its stock tumbling from an initial price of $MONEY a share. The stock fell MONEY DATE to $MONEY on ORG.
TIME, H&R reported a substantial loss for DATE, citing ORG's turmoil.
ORG said ORG's plan to go back to basics was ""very realistic,"" but added ""too bad they didn't do it a year-and-a-half ago.""
The analyst said he expects the company to reposition itself to provide niche services to business customers who don't want to pay for a high-level premium online service.
In a telephone interview, ORG spokesman PERSON said that while his company was abandoning further mass-marketing efforts aimed at GPE consumers, ""If you are currently a subscriber, you will not notice a change.""
Nontheless, the GPE, GPE-based company said it would target its efforts and investments at business and professional users, its traditional strength.
Wow! was introduced DATE to much fanfare, but failed to get off the ground. Wow! customers numbered CARDINAL at latest count, the company said.
The company blamed the failure of Wow! on new market entrants, or Internet service providers, pricing competition and the high costs of consumer marketing.
The company also said it plans to launch DATE a new ""CompuServe for Business"" service, an enhanced version of its core ORG with a new interface and added content from ""CARDINAL"" of information providers.
Despite a series of missteps in GPE, growth remains robust overseas where ORG's brand is the best recognised name among online and Internet access providers.
In LOC, for example, ORG said subscribers to its main ORG online service had nearly doubled to CARDINAL in DATE.","America Online Inc's new flat rate pricing plan and moves to meet spiraling subscriber demand suggest ORG is securely on course for becoming a major media player comparable to broadcast or cable TV networks.
But analysts caution that underlying this success looms a real threat that the online network's capacity to serve its CARDINAL subscribers could soon be overwhelmed.
They warn that the additional demand on ORG's network generated by the company's offer of unlimited usage for $MONEY per month imperil its near-term capacity to handle demand.  
If only a small fraction of ORG's CARDINAL of members were to take up the company's offer of unlimited access and remain connected to the service for long periods of DATE, the service would quickly grind to a halt, detractors say.
Clearly, investors are betting the company can surmount such challenges, as ORG has done repeatedly in mushrooming sevenfold from CARDINAL users DATE.
In DATE, the stock's momentum has revived, doubling from a year-low of CARDINAL to reach DATE. An TIME sell-off caused the stock to fall back to CARDINAL.  
""The market appears to have taken a very bullish view of the new pricing scheme,"" said PERSON, an analyst with brokerage firm PERSON of the stock's recent run-up.
""But you have to balance this with the realization that the more time users spend online, the higher the cost of adding capacity"" requiring new equipment investments, he said.
""All of a sudden its free candy at the candy store,"" PERSON said of the paradoxical downside of a sudden explosion in demand. Although a long-time follower of ORG, the analyst currently maintains no stock recommendation on the stock.  
To be fair, ORG officials have warned repeatedly that they expect DATE to be transitional, both operationally and financially, as the company shifts to a new business model that derives revenues from advertising and commercial transactions instead of mainly subscriber fees.
But PERSON, an analyst with ORG, believes ORG has proven its capacity to weather the pressures of the explosively growing online medium. In particular, ORG has measures in place to limit excessive connection times by users who now have little incentive to disconnect and free up pressure network time for others.  
""Will this demand on its network be enough to destroy the company? I think not. What the company will do is build-out to meet demand and stage a comeback,"" said PERSON, who maintains a strong buy rating on ORG stock.
PERSON, a veteran online industry analyst at ORG in GPE, PERSON, agreed.
""Anyone who is writing this company's obituary is going to be disappointed,"" he said.
DATE, ORG said it was undertaking a major expansion of its online network and planned to spend MONEY by DATE to double its network capacity and improve service.  
Gami estimated the company has CARDINAL modems now available to handle incoming customer calls for its online service and that this number will rise to CARDINAL by DATE, the end of its DATE.
In its DATE announcement, the world's largest online service provider said it was upgrading its network to meet the surge in demand generated by its new pricing and recent marketing initiatives.
As of DATE, ORG began offering the new flat-rate pricing plan, CARDINAL of several pricing options available to customers.  
An GPE Online spokesman said that, despite heavy usage over the DATE, there were no serious problems with its online network.
The GPE, Va.-based company said that, since DATE, it has added CARDINAL of new modems to ORG, which it said was the world's largest dial-in network. The expansion is to accelerate through DATE with CARDINAL of new modems being installed DATE.
Analysts said that, with more new users expected, ORG needs to upgrade its network, especially after its TIME outage on DATE, which happened during regular maintenance caused by a software glitch and angered many users.
Already DATE, ORG's subscriber growth is on the rebound and, in DATE, the company added CARDINAL new members. In DATE, ORG was hurt by a seasonal slowdown in subscriber growth, a phenomenon common to all online services.
Still, in its latest DATE ORG filing, ORG said profit margins will be hurt in the near-term and it is only likely to break into profitability again in the DATE.",1
"Profits at GPE's CARDINAL big banks topped MONEY (MONEY) in DATE, smashing DATE MONEY (MONEY) record as ORG and ORG wrapped up the earnings DATE on DATE.
The CARDINAL banks each reported a double-digit jump in net income for a combined profit of MONEY (MONEY) in DATE.
But a ORDINAL straight year of record profits came amid growing public anger over perceived high service charges and credit card rates, and tight lending policies.
Bank officials defended the group's performance, saying that CARDINAL of NORP owned bank shares through mutual funds and pension plans.
Shareholders of CARDINAL of the CARDINAL banks were rewarded with healthy dividend hikes DATE.
""Our activities mean jobs, investment, tax revenue, dividend payments and foreign income for GPE's economy,"" CIBC chairman PERSON said after the bank reported a PERCENT jump in net income on DATE.
CIBC, GPE's ORDINAL-largest bank, said net income climbed to MONEY (MONEY) in DATE from MONEY (MONEY) in DATE.
CIBC also boosted its DATE dividend by MONEY (MONEY) to MONEY (MONEY), the ORDINAL increase in DATE.
ORG, ORG and ORG previously raised their payouts as well.
ORG, GPE's largest bank, reported the highest corporate profit in NORP history on DATE, with DATE net income rising PERCENT to MONEY (MONEY).
ORG and ORG cracked the MONEY barrier DATE, joining ORG and ORG, which crossed the threshold in DATE and DATE respectively.
ORG, the smallest of the big CARDINAL, posted a PERCENT jump in net income to MONEY (MONEY) DATE.
The banks attributed their performances to lower credit losses and healthy commercial and personal banking. Investment banking, brokerage and mutual fund businesses also enjoyed DATE as financial markets soared in DATE.
Earnings at ORG's ORG investment arm skyrocketed PERCENT to MONEY (MONEY) in DATE.
The group's earnings and dividend hikes were in line or slightly better than analysts' forecasts.
""It was good news and a fairly good outlook for DATE in terms of earnings and dividends,"" said PERSON, a banking analyst with investment dealer ORG
Brown said he now had a more positive outlook for bank earnings in DATE, saying EVENT profits may grow QUANTITY DATE, up from previous growth forecasts of PERCENT.
Bank stocks, which have led ORG to new heights since DATE, fell on DATE in tandem with the rest of the market. CIBC led the decline, dropping MONEY ($MONEY) to close at C$MONEY ($MONEY) in brisk trading.","ORG key CARDINAL Index reached its ORDINAL record close of DATE on DATE and broke the DATE barrier for the ORDINAL time.
The TSE 300 Composite Index rose CARDINAL points to close at CARDINAL, surpassing a streak of CARDINAL record finishes in DATE.
The Index also breached the DATE barrier, setting an intraday high of CARDINAL.
""It's just another record in a string of more to come. This won't be the last,"" said PERSON, senior vice-president and director of equity trading for ScotiaMcLeod Inc, a unit of ORG.
GPE's record-setting run was led by banking, communications, conglomerates and technology issues. Of the ORG's CARDINAL sub-groups, CARDINAL finished higher.
The rally was restrained by CARDINAL-point loss in golds.
Trading was brisk with CARDINAL shares exchanging hands for a value of MONEY (MONEY).
Advancing stocks outnumbered declines CARDINAL to CARDINAL with CARDINAL issues unchanged.
Traditionally, DATE has been DATE for investors who remember the massive crash of DATE.
""This is the time when everything is supposed to fall apart, but it has been a rather strong month,"" PERSON said.
* ORG and ORG set all-time highs as the bank group continued their climb since DATE. Scotiabank closed up CARDINAL at CARDINAL after reaching a DATE high of CARDINAL. ORG added CARDINAL to close at CARDINAL after hitting a DATE peak of CARDINAL.
* Among weak gold issues, PERSON fell CARDINAL to CARDINAL on CARDINAL shares. ORG gold futures slumped for a ORDINAL straight session on DATE.
* Molson Cos Ltd jumped CARDINAL to CARDINAL after its brewing unit, PERSON, reached an interim deal with GPE beermaker PERSON on the sale of ORG beer in GPE.
An arbitration panel DATE ruled that ORG breached its licensing deal by allowing ORG, a unit of ORG Cos Inc, to buy a PERCENT stake without ORG' consent in DATE.",1
"Political pressures ahead of a general election may mean the latest bids in a wave of takeovers of NORP regional electricity companies (NORP) do not get a rapid nod from the GPE government, analysts said on DATE.
""A referral (to competition authorities) is a distinct possibility. I think it is a CARDINAL shot,"" said PERSON, utilities analyst at PERSON.
CARDINAL of the original CARDINAL cash-rich PERSON have now been sold in a flurry of takeovers since they came up for grabs DATE after the government's protective golden share expired, DATE after privatisation in DATE.
CARDINAL of those have been sold to GPE utilities, who see the GPE sector as an opportunity to expand outside GPE regulatory shackles, particularly into a market which is scheduled to be liberalised to supply competition in DATE.
The latest bid is from  GPE energy group ORG which agreed to pay MONEY (MONEY) on DATE to take control of ORG, CARDINAL of CARDINAL remaining independent PERSON, in an a offer at MONEY per share.
ORG faces its ORDINAL hostile approach in DATE as it battles to throw off a MONEY per share bid from ORG, a unit of U.S.-based ORG, which has already snapped up PERCENT of its target.
CARDINAL bids have so far been blocked by trade secretary PERSON, who stunned the market by stopping generators ORG and ORG from consuming CARDINAL GPE DATE.
Another CARDINAL NORP fell prey to their regional water and sewerage companies, while industrial conglomerate PERSON picked up ORG, which it now aims to spin off as part of a separate business under its demerger plans.
The remaining victim was GPE, which succumbed to ORG, an aggressively expansive electricity generator and distributor based in GPE.
Dominion and East Midlands said they saw no reason for their deal to be referred to ORG (MMC), adding that a meeting was scheduled with industry watchdog PERSON, which initially consults on bids.
""If PERSON was following a consistent route, he would not stop these latest bids,"" said CARDINAL analyst who asked not to be named.
""But if I were a regulator, I would probably want CARDINAL firms to make comparisons,"" he added.
Offer head PERSON will send his advice on both bids to PERSON for the trade secretary to decide whether they should be referred to the MMC.
Another pressure on ORG is the prospect of a general election, which must be held by DATE, with the opposition Labour party running ahead in opinion polls and allegations of sleaze miring the current NORP government.
Its privatisations, which have seen most of GPE's strategic industries sold off, have been heavily criticised for huge executive pay packets, hefty shareholder payouts and heady takeovers which value firms well above privatisation levels.
Labour, which has vowed to levy a ""windfall"" tax on privatised utilities, said in an opening salvo on the latest bids that it planned ""tough, efficient regulation wherever necessary in the privatised utilities and we intend to see it enforced whoever is the owner.""
PERSON could chose to refer the bids to the MMC in order to delay any decision on this hot political issue beyond an election, some analysts said.
The market on DATE showed its concerns by capping share prices at well below the bid levels, with LOC trading at MONEY per share by DATE ORG and LOC at MONEY.
""The market is holding its breath on this issue,"" Culfeather said. ($MONEY Pound)","Shares in media group PRODUCT rose sharply on DATE as takeover speculation swirled on a report, later denied, that broadcaster BSkyB might be planning a bid, DATE after new management was appointed.
""The price was boosted DATE by the management change but now it reflects revived bid speculation,"" said CARDINAL sector analyst who declined to be named.
Pearson shares were up MONEY at MONEY by DATE ORG after touching a peak of MONEY, a high for DATE.
A report in DATE's Independent newspaper said PERSON, in which PERSON ORG has a PERCENT stake, was in the early stages of planning a bid worth MONEY (MONEY) in cooperation with a U.S.-based media group.
But BSkyB's chief executive, PERSON, was quoted in later editions of ORG newspaper saying there were ""no talks taking place between ORG, PERSON or any associated company about a bid for PRODUCT.""
BSkyB was not immediately available for comment on DATE.
PRODUCT, which owns the ORG newspaper, ORG and a number of television production companies, said it did not comment on speculation.
Analysts said although BSkyB appeared to have ruled itself out of a bid, observers felt any move on PRODUCT was likely to be made before new management takes control DATE.
DATE, PRODUCT to be chief executive from DATE -- the ORDINAL female head of a company represented in the key FT-SE CARDINAL share index -- and PERSON chairman.
""If someone is thinking seriously about a bid, now is the time to do it. The new management hasn't arrived yet and so it would be harder to mount a defence,"" said CARDINAL media analyst who asked not to be identified.
But analysts said ORG shares were now approaching the top end of their price target range for full valuation of the business and the price tag attached to speculation around BSkyB was high.
""It is touching the stratosphere at these levels,"" said PERSON of Panmure Gordon.
The media analyst said it was difficult to put a price tag on PRODUCT because its diversified nature meant it could have specific attractions for a variety of bidders.
Speculation of a bid for the company last surfaced in DATE when NORP-Dutch publisher Reed-Elsevier was rumoured as a possible buyer.
After initial stock market disappointment, PERSON's appointment at PRODUCT was greeted with a MONEY jump in shares on DATE as hopes emerged that she might reorganise the sprawling media company.
The DATE Times newspaper reported that a sale of its television interests, which include soap opera and games show producer PERSON, might be on the cards.
""It may be that BSkyB want to acquire ORG but whether they would want the entire group is another matter,"" said PERSON of Panmure Gordon.
So far, PERSON appears to be keeping her options open, analysts said.
""There is no real evidence yet that she would consider any demergers and it is open to question whether such a move would bring shareholder benefit,"" the sector analyst said.
""We have the stock on a hold at the moment. Let's see what the new management comes up with and let's see if there is anything concrete behind this bid speculation,"" he added. ($MONEY Pound)",1
"GPE future leader PERSON met a political opponent on DATE he has accused of badmouthing GPE abroad in the run-up to NORP rule, holding talks that appeared to strike a conciliatory note.
However, ORG leader PERSON, a fierce critic of GPE, remained poles apart on key issues at the heart of the democratic camp's worries about GPE return to NORP rule at DATE.
In a meeting he described as ""cooperative"" and ""good"", the ORDINAL since the shipping magnate was selected in DATE as GPE future leader, PERSON said his party allowed Tung to clarify his position if he believed he had been misinterpreted.
""If he thinks we have misunderstood him, he can tell us, so we can clear any misunderstanding,"" PERSON told reporters.
PERSON said he gave Tung a ""position paper"" highlighting issues PERSON would be discussing with political and business leaders in an upcoming trip to GPE, GPE and LOC.
The paper stated what the NORP saw as ORG's stance on key issues about GPE handover, giving the future leader a chance to clear up any misunderstandings over his position.
PERSON, who has made many trips overseas to lobby against the provisional legislature and GPE's plans to roll back on rights and civil liberties at the handover, has been attacked by GPE in DATE for criticising GPE abroad.
But the long-time champion of democracy in the territory, who will receive ORG 1997 Democracy Award on GPE's ORG on DATE, said he would continue to go on his overseas lobbying trips.
He also dismissed suggestions from the media that the party would censor itself in the future.
""No, we will still speak (overseas), but if PERSON says he has been misunderstood, we will consider his views, we will definitely not be censoring ourselves,"" PERSON said.
The party also stood firm against the provisional legislature.
""I told Mr Tung so long as this provisional legislature were to have its ORDINAL, ORDINAL, ORDINAL readings on any bill before DATE, we will have no option but take it to court,"" he said.
With the handover DATE away, GPE is awash with concerns over the impending end of its elected legislature and GPE's plans to repeal or amend a string of laws protecting human rights and civil liberties.","On the eve of an historic gathering of the elite assembled by GPE to pick GPE future leader, the smart money was on PERSON.
Most observers viewed it as a foregone conclusion that the shipping tycoon would emerge the winner after the CARDINAL-strong ORG business titans and GPE politicians meets on DATE to choose the territory's post-colonial chief executive.
Blessed by a personal public handshake from NORP President PERSON DATE, GPE ran off with CARDINAL votes in the ORDINAL round of voting DATE by the committee, which was chosen under GPE's close supervision.
Sovereignty over the territory of CARDINAL people, CARDINAL of LOC's economic wonders and GPE's last major colony, reverts to GPE at DATE -- DATE from now.
A poll by GPE ORG showed on DATE that PERCENT believed the winner has probably been picked in advance. PERCENT believe there will be a real contest.
""I don't think there was ever any doubt that it would be PERSON. I've been calling this selection committee the PERSON selection committee,"" said PERSON, head of ORG, the largest in GPE legislature.
PERSON, whose party is boycotting the selection process, said PERSON could not be counted on to preserve GPE freedoms, human rights and its current moves towards greater democracy.
""The people of GPE cannot trust him to protect our rights, not because he is a bad man, he is a nice guy, but I cannot see how he is in a position to say no to GPE on any important issue,"" PERSON said.
Some GPE newspapers were already putting the finishing touches on DATE to a slew of Tung-the-victor profiles for publication on DATE, an industry source said.
If he wins on DATE, PERSON will be greeted soon by a no-confidence debate presented by lawmaker Emily Lau, CARDINAL of GPE's loudest critics.
Colonial Governor PERSON has promised his support for the chief executive-designate, whoever it turns out to be, in DATE of NORP rule.
Tung has not responded to the pledge but has said he will engage GPE respected civil service in dialogue on how best to run the territory and ensure a smooth transition.
""Nobody wants the present administration to be turned into a lame duck,"" Tung said on DATE.
CARDINAL rival candidates -- former Chief Justice Ti PERSON and entrepreneur PERSON -- are both ranked as outsiders.
An opinion poll by ORG DATE gave ORG, PERSON PERCENT and ORG PERCENT public backing.
But GPE only began to gain public support in DATE, after PERSON's chief civil servant PERSON declared she would not run for the job. Tung has never matched PERCENT-plus popularity ratings which PERSON enjoyed.
Assuming he wins, the DATE tycoon will spend DATE assembling a cabinet of advisers to guide policy after GPE becomes an autonomous GPE. His team is expected to be highly pro-business, but he has also promised a role for grassoots bodies.
He will also lay the groundwork for a provisional legislature, soon to be picked by the same ORG, to take over from the present elected GPE DATE.
The leader-in-waiting will face many challenges before and after the handover, with GPE and GPE locked in disputes on issues ranging from passports, nationality and troop deployments to an anti-subversion law and the disbanding of GPE.",0
"GPE is preparing a lobbying campaign to join ORG (ORG) at the ministerial meeting in GPE DATE, officials said.
It will send a team led by PERSON, assistant minister of ORG and an experienced trade negotiator, to the meetings that begin DATE, NORP officials said.
GPE, which will be an observer at the meetings, has waged a lengthy battle to join LAW and its successor body governing global trade, the ORG.
It has pushed to gain entry on the favourable terms of a developing nation but NORP countries, particularly GPE, have insisted its economy was too big for such preferential treatment.
""We will be there as an observer,"" said a NORP trade official of the GPE meeting. ""That is all we will be doing.""
BEIJING TO PRESS CASE
But foreign diplomats said GPE would continue to press its case, mainly outside the official meetings in bilateral talks with member countries.
""The real work will be in the corridors around the meeting,"" said a diplomat who monitors international trade issues.
""GPE wants support from as many countries as possible to put pressure on GPE,"" said another diplomat.
GPE views gaining entry to the ORG as a symbol of its growing prestige but it also is eyeing the benefits of fixed mechanisms for settling trade disputes.
GPE has had numerous trade spats with its major trading partners -- from DATE review by GPE of its Most ORG status to copyright protection for textiles and shoes.
By joining the global trade body, GPE could ensure that any penalties imposed on it conformed with ORG dispute settlement procedures. Diplomats said that could be of considerable value to GPE as mounting exports increase the prospect of trade disputes.
Western diplomats familiar with the trade issue described GPE's current position on ORG as ""woefully inadequate"".
MOVING TOWARD COMPROMISE
But diplomats said GPE was aware that it must put more on the table and there appeared to be some movement toward a compromise.
GPE's Foreign Minister PERSON said DATE at FAC (ORG) forum in the GPE that GPE expected to conclude talks with GPE on ORG in DATE.
NORP President PERSON has also offered to aim for PERCENT import duty by DATE compared with PERCENT now.
More important to GPE is ensuring access to the big NORP domestic market and the removal of a whole range of practices that are seen as discriminating against foreign firms.
GPE would like to see an end to unpublished restrictions on purchases of foreign made goods, changes in agricultural import practices and more relaxed requirements on producing components in GPE.
GPE says these restrictions are needed to protect infant domestic industries that are unable to compete with established foreign companies.","GPE's ORG and PERSON are still trying to forge a joint venture to mine the spectacular GPE gold discovery in GPE, despite a cloud of uncertainty over the rights to the deposit PERSON chief executive PERSON said.
Progress in the negotiations with ORG is slow, PERSON told ORG in a telephone interview on DATE.
""We're moving ahead, albeit at a snail's pace,"" he said, adding that legal issues stood in the way of a full agreement. ""We're trying to get them to appreciate our views and the legal stance that we've taken,"" he said.
DATE, the NORP government advised ORG to form a joint venture with GPE-based gold giant ORG to operate Busang. The government requested a deal by DATE, but the CARDINAL companies announced after the deadline that several issues were still outstanding.
Since then, the NORP government has raised doubts about ORG grip on GPE, which is estimated to contain MONEY of gold, worth MONEY at DATE's prices.
""The government has stopped processing the previous application for contracts of work by ORG because of various problems,"" PERSON, GPE's secretary-general of mines, told ORG in GPE on DATE. ""Therefore the previous application by ORG that has been delayed must be stopped and must be said to have been canceled.""
He said PERSON and PERSON must jointly submit new applications for contracts of work on the deposit.
Without contracts of work granted by the NORP government, PERSON cannot proceed to exploit the find
But PERSON defended his company, saying its permits and applications for the gold property were ""in good standing.""
He said CARDINAL ORG officials met with PERSON in GPE on DATE and were assured everything was in line.
""The telephone call that I got from WORK_OF_ART), he was quited pleased with the meeting. He said we're making very good progress in our relationship (with the mines ministry),"" PERSON said.
PERSON spokesman PERSON tried to explain the apparent contradiction in PERSON's statements. ""What the government wants to do in essence is that if an agreement with ORG is made, the existing applications will be replaced with new applications,"" he told ORG
PERSON said PERSON had apologized for the misunderstanding, saying his comments were ""erroneously reported in a DATE ORG newswire article.""
PERSON, the ORG company spokesman in GPE, said ORG was confident the quotations in its DATE story from GPE were accurate.
Despite the barrage of news releases from ORG on DATE, PERSON was still seeking clarity on the situation from the NORP government.
""We're still seeking clarification and we want to hear directly from the government of GPE,"" PERSON spokesman PERSON said in GPE. ""We're not saying anything until we talk directly to the government of GPE.""
Bre-X, too, is waiting for the NORP government to make a move.
Walsh said he still had high hopes that NORP President PERSON would open up an auction for ORG, allowing other major mining companies to bid on the GPE project.
He said PERSON had not made a formal request for an auction, but ""we understand that the president is reviewing the situation.""
An auction would be advantageous for ORG shareholders and for GPE, he said.
""We're not soliciting offers. We are getting other phone calls,"" PERSON said. ""I am talking to to principals of other companies.""
He said he had spoken to executives at ORG, ORG and ORG
In GPE, GPE spokesman PERSON said any suggestion of an open auction on GPE was encouraging. His company has made a formal request for an open bidding process.
But gold mining analyst PERSON with ORG said PERSON's competitors may be trying to make a deal with ORG more expensive for ORG.
""They're playing games,"" he said. ""One has got to read between the lines.""
He said Busang was so fraught with uncertainty that he has a hard time understanding why the major gold producers would be interested. ""One doesn't even know what percentage (PERSON) will end up with. One doesn't even know how to keep PERSON happy,"" he said. ""To me it's a whole big nightmare.""
Investors were thoroughly confused by DATE's developments, analysts said.
""We're getting so much information, headline after headline,"" said CARDINAL analyst. ""It's causing anxiety for everyone.""
Bre-X, which has halted DATE DATE, closed down C$MONEY at CARDINAL in rapid trading on DATE of CARDINAL shares. PERSON, which lost C$MONEY on DATE, regained C$MONEY on DATE to C$MONEY in trading of CARDINAL shares.",0
"ORG plans DATE to unveil a series of advances in its marketing of enhanced video and audio technologies.
On DATE, the company will launch a deal with ORG ORG unit to deliver what will be among the ORDINAL DVD-ROM products to hit the retail market, Chief Executive PERSON said.
Diamond will also announce new proprietary CARDINAL-D audio software and plans for moving into the market for machines running ORG EVENT system.  
On DATE, the GPE, GPE maker of multimedia accelerators, modems and adapters also plans to launch a new plug-and-play video conferencing product, including a color camera and a microphone, at an estimated retail price of $MONEY.
Amid the flurry of introductions ahead of the DATE ORG computer industry trade show beginning DATE, ORG told ORG in an interview the company is on track to increase revenues and margins in its DATE.","Despite losing out on CARDINAL potential aircraft deals, ORG stock remains near its DATE high, reflecting a strong balance sheet and expectations it will make an acquisition.
""The company is generating on the order of MONEY of free cash flow DATE, which translates into MONEY a share,"" said ORG analyst PERSON, who has a buy rating on the stock.
That could enable the company to buy back shares or make a long-awaited defense acquisition, he added.  
Although it lost out on the race to build a next generation fighter for the ORG and rival ORG was awarded a CARDINAL-plane ORG deal, ORG shares remain relatively strong.  Shares were down $MONEY at $MONEY a share on DATE, $MONEY below a DATE high of $MONEY but MONEY above a low of $MONEY.
In fact, losing out on the potential MONEY in jet fighter contracts -- which could eventually be worth MONEY to the ultimate winner -- could prompt ORG to pursue an acquisition aggressively to build its defense business, analysts added.  
ORG analyst PERSON said he expected the company's ""board and management to take a fairly proactive stance...to do something in the merger and acquisition area.""
Analysts also shrugged off ORG getting the plane order from ORG's ORG, saying ORG was not a serious contender after it cancelled development of its next generation commercial plane, known as ORG.
""They were never in the running,"" ORG analyst PERSON said of ORG.  
""The events don't affect near-term earnings in either case,"" ORG analyst PERSON said of the lost jet fighter and ORG deals.
ORG management said the ORG business would have been a significant long-term program for it.  But analysts said the company still has a chance to capture future military sales, particularly with acquisitions to build its portfolio, which now includes PRODUCT fighter jet, PRODUCT military cargo plane and PRODUCT helicopter.  
""The things to keep in mind are, the joint strike fighter is a long ways away.  It doesn't affect ORG business portfolio near term,"" ORG said.
Callan added it is possible the new fighter jet might not be developed due to GPE government budget pressures. And, in the interim, ORG could make its existing fighter jets more affordable and more capable.
Analysts dismissed the ideas that takeover speculation has been boosting ORG shares.  DATE, ORG was reported to be in preliminary merger talks with ORG, but a deal never materialized.  ""I don't think the people who own the stock DATE are looking at ORG as a takeover candidate,"" ORG said.
ORG Chicago Newsdesk (CARDINAL) DATE",0
"ORG is for the ORDINAL time in LOC marketing cargo space aboard the world's largest civil transporter, the consortium's press relations manager in GPE, PERSON, told ORG.
Speaking at GPE's ORDINAL airshow being held here, he said the ORG PRODUCT Super Transporter fleet has TIME a year available for wet lease. Known as the PERSON because of its giant, whale like appearance and cavernous QUANTITY high jaw-like door, it is one of the world's most unusual aircraft which ORG said can carry more voluminous freight than any other.
The ORDINAL CARDINAL of an eventual fleet of CARDINAL aircraft are being used to transport large sections of fuselage and the wings for the ORG family which are made near ORG and are flown to Toulouse for assembly. Other fuselage sections weighing QUANTITY and QUANTITY long are transported from GPE and GPE.
When the aircraft are not busy doing that, ORG says it hope it can profit from wet leases of other outsize cargoes such as helicopters, aircraft engines and space satellites in which field GPE is a key world player with its Long DATE launcher.
""No other aircraft in the world can carry such large and unusual loads. The thing about satellites is they need to be transported whole and cannot be broken down for transport. It is a niche market but CARDINAL we think there are opportunities in,"" PERSON said.
ORG said its large transporter has already been used to carry a satellite module which will form part of space station FAC in Italy to Toulouse . Other projects include ferrying aviator PERSON's balloon to GPE for his aborted round the world attempt.
The PERSON made its air show debut at GPE DATE but is not being exhibited in GPE.
The twin engined purpose-built jets replace veteran CARDINAL propellor engined ORG aircraft which ORG said are destined to become museum pieces. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017","ORG is to start new services to GPE, GPE, GPE, PERSON in GPE and GPE within DATE, the all cargo carrier's executive vice president PERSON said.
Speaking after the handover of ORG's ORDINAL ORG PRODUCT and 14th 747 freighter in all, PERSON said the new acquistion from ORG will offer longer ranges, higher weights and reduced fuel consumption for the company's NORP network which is about to rapidly expand.
Polar is awaiting final ORG approval to begin flying to PERSON after agreement with the NORP transportation ministry that ORG should become the ORDINAL GPE all cargo carrier, he said.
""The indications seem very favourable,"" he said.
The U.S.-based airline has also won permission to fly to GPE and expects to start services to GPE in DATE. With approval for PERSON, and new services to GPE and GPE which began in DATE, ORG said the way is now opens for a round the world service to begin DATE.
""In DATE we will inaugurate services to GPE, GPE, GPE, PERSON and the GPE,"" PERSON told reporters.
When the PERSON operation begin, ORG expects to offer CARDINAL cargo flights DATE from GPE to the GPE west coast and CARDINAL to east coast all via Anchorage . The PRODUCT means ORG no longer has to stop in GPE in GPE to refuel.
Polar does not have rights into GPE but has been holding discussions with NORP airlines on a possible joint venture. PERSON declined to name the possible partners but said ORG has already cooperated with ORG on charter cargo flights.
ORG said ORG intends to start operating a ORDINAL PRODUCT aircraft, an ex ORG which is to be converted, in DATE. The company's long term strategy is to acquire CARDINAL or CARDINAL PRODUCT aircraft DATE for DATE bringing the fleet total then to CARDINAL or CARDINAL aircraft.
""Our commitment is to provide our customers with a global network and let them compete against the integrators,"" PERSON said. -- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017",1
"The television and entertainment industries vowed DATE to use only their system for rating TV programs and promised to reject -- by legal means, if necessary -- any government-imposed plan.
Following months of work, a group of TV and GPE executives are scheduled DATE to unveil plans for a system to rate shows based on their suitability for kids of different ages, especially those DATE.
It will be similar to the DATE system of letters and numbers used by the motion-picture industry and which includes the ratings G, PG, PG-13, R and NC-17.
""We will not use any other TV rating guidelines other than the ones we are going to announce DATE,"" said PERSON, chief executive of ORG and head of the ""implementation group"" developing the ratings.
But parental groups, children's advocates, educators and some key lawmakers -- including Rep. PERSON, a GPE NORP -- have demanded that the group include a content-based system specifying the level of sex, violence and bad language.
Lawmakers have not ruled out a legislative fix.
""It is clear that the industry has so far failed to respond adequately to the fundamental interest of parents in knowing the specific content of TV shows in advance,"" PERSON said at a news conference accompanied by other lawmakers and groups pushing for a content-based system like the one now used by the ORG cable channel.
At a press conference responding to PERSON, ORG lashed back. He accused PERSON of trying to use government as a ""big brother"" to impose his own scheme. And ORG vowed not to bend under pressure and alter his group's system.
""We're not going to change a word of it. We're not going to redot an 'i' or recross a 't,'"" ORG said. ""If there is any intervention by government, we're going to be in court in a nanosecond.""
ORG also must approve or reject the ratings system. If it were to reject it, the agency could call for development of an alternative plan -- one that ORG said the industry would ignore.
Once the ratings are implemented in DATE, ORG did say the industry would revisit the system after DATE to determine whether it should be changed or ""tweaked.""
""Is it perfect? Of course not. All subjective systems are flawed. So is ours,"" ORG said.
The ratings -- expected to include CARDINAL broad categories -- will not apply to news, news magazine shows such as ""TIME"" or sports. TV networks and syndicators will issue the ratings, with the categories ""mingling"" age and content, according to ORG.
Proposed guidelines leaked to the media include CARDINAL for children: ""TV-K"" for kids and suitable for all ages; and ""TV-K7"" for children older than seven.
The other CARDINAL are: ""TV-G"" for general audiences; ""TV-PG,"" parental guidance suggested; ""TV-14"" for parents strongly cautioned; and ""TV-M"" for mature audiences only.
The rating are to be used in conjunction with a ""V-chip"" installed in TV sets that allow parents to block out shows they consider too violent or racy.
The ORG system, developed in DATE, offers ratings such as ""MV"" for ""mild violence,"" ""ORG"" for ""strong sexual content"" and ""AL"" for ""adult language.""
But ORG said that system is unworkable and is too complicated to appear in TV listings in the newspaper.
He also said a CARDINAL-member monitoring and oversight group will be created to oversee the new ratings. It will include a chairman and representives from the creative side of the industry, TV broadcasters and the cable-TV industry.","President PERSON and ORG are again set to look to airwave sales to cut the deficit, although analysts note the radio spectrum is not a bottomless money pit and prices should fall as more space is sold.
""They need to be careful that they're not killing the golden goose,"" said PERSON of ORG, a GPE, GPE telecommunications consulting firm.
""The issue may be whether the federal government creates a glut of spectrum available,"" said PERSON, noting that such an oversupply would force down prices -- and thus the amount of money the government could fetch through auctions.
Auctions for the rights to use the airwaves have been a cash bonanza for PERSON. Since DATE, ORG has raised MONEY for the government through CARDINAL spectrum auctions.
The ORG has sold licenses for a new generation of cellular phones known as ""personal communications services,"" or ORG, satellite TV, ""wireless"" cable TV and other services.
""It's been the most valuable asset the government has had to sell in DATE,"" said budget analyst PERSON of ORG.
The president is set to unveil his DATE budget on DATE that begins DATE. ORG officials have told lawmakers to expect spectrum auctions to be a part of the plan, though details are unclear.
For DATE, PERSON proposed, among other things, to auction in DATE the ""analog"" spectrum TV broadcasters would return to the government in the transition to high-definition digital TV. The sale was projected to raise MONEY.
But more sales could well mean lower prices.
ORG DATE predicted the price of valuable spectrum under QUANTITY -- airwaves that can be used for ORG, digital TV, paging, and other services -- will fall ""as more spectrum is brought to market.""
Already, there are signs of softer prices. A ORG auction that ended DATE netted MONEY, down PERCENT from a similar auction DATE that raised MONEY.
The average license price tumbled PERCENT.
Analysts were quick to note that smaller airwave parcels were auctioned at the latest sale and that financing terms extended by the government were not as attractive.
But they also said the drop reflected the dearth of new money available after the sky-high prices paid at DATE ORG sale and the flood of new entrants to the market.
""If everybody builds out the spectrum that has been acquired in the ORG auctions, there would be more than enough capacity for every man, woman, and child and every household pet in GPE,"" said PERSON.
While more sales could mean lower proceeds, many analysts argue that more auctions also would usher in more competitors to the market -- and thus drive down prices of cellular phone service, pagers, Internet access and other services.
""The ORDINAL thing you have to think about is 'What's good for getting communications services to the public?'"" said PERSON, of Strategic Policy Research, a consulting firm in GPE, GPE ""Only after you've solved that problem do you worry about auction revenues.""
Experts said plenty of spectrum is available to auction. ""There's a lot more spectrum out there,"" said PERSON of ORG, a free-market advocacy group.
""There's much, much more that can be done,"" he said.",1
"GPE's defence sector and state-owned heavy industries are the country's biggest loss-makers but reform of the lumbering state sector is proceeding at a snail's pace, analysts said on DATE.
PERCENT of GPE's CARDINAL state industrial firms posted losses from DATE, a rise of PERCENT from DATE, according to the latest data from ORG.
""Those most in need of help would be the military industries and traditional industries,"" said PERSON, a professor of industrial economics at ORG.
Traditional industries included the coal and oil sectors as well as heavy industry, PERSON said by telephone.
""To put it simply, it's mostly these traditional industries, which have a very backward structure,"" PERSON said of the state sector's mounting losses.
Many of GPE's state-run enterprises are overstaffed and unable to compete in domestic or overseas markets. They also carry the heavy burden of providing cradle-to-grave welfare services for their employees.
The combined losses of state firms reached MONEY (MONEY) during DATE, a rise of PERCENT from DATE, official figures show.
Compounding the problem is interest on unpaid debts -- a substantial burden even after CARDINAL interest rate cuts DATE.
""The debt burden of state-owned enterprises is very heavy, so of course this affects their profitability,"" PERSON said.
The DATE net profits of GPE's state industries fell to MONEY, down PERCENT from DATE, the statistics show.
Reform of defence industries -- many based in remote and backward inland regions and fitted with ageing technology -- had proceeded slowly, the economist said.
""Military industries are trying to transform into civilian industries, but the transition is extremely difficult -- there's no capital,"" he said.
Officials have said CARDINAL state firms have been declared insolvent to date but GPE has been wary of pushing ahead with bankruptcies.
GPE fears that reform of state enterprises will lead to mass unemployment and eventually spark social unrest, said CARDINAL Western analyst reached by telephone.
""That's CARDINAL major reason why reform is going so slowly,"" said the analyst, who declined to be identified.
GPE's trade unions had set up a special fund DATE to help workers in ailing state firms, the ORG newspaper said on DATE.
""The relief fund...is designed to help employees from money-losing state-owned enterprises maintain decent living standards,"" the newspaper said.
Unions had raised MONEY so far DATE to help CARDINAL impoverished workers in state enterprises and disaster-stricken areas, it said.
($MONEY = MONEY)","This DATE's ORG (ORG) summit could see conflicting views between regional powers eager to boost free trade and a NORP delegation more interested in soft loans, diplomats said.
While Pacific heavyweights such as GPE, GPE and GPE aimed to lower trade barriers between the region's markets, GPE was hoping to squeeze easy credit out of richer ORG members at the summit in the GPE, they said.
""There's a fundamental tension between GPE on the one hand and most other ORG states on the other,"" said a Western diplomat in GPE.
""Should (ORG) be directed toward the trade-investment liberalisation framework or should it be directed toward economic and technical cooperation?"" asked the diplomat.
Analysts say the Subic summit would also give NORP president PERSON a key opportunity to put his personal seal on a recent upturn in cross-Pacific ties at the ORDINAL NORP-GPE presidential meeting since DATE.
While the forum would provide the NORP delegation with a welcome venue for private talks with GPE -- and possibly rival GPE -- GPE would be less keen on the summit's avowed free trade agenda, the diplomats said.
GPE feared throwing open its doors to foreign competitors could devastate GPE's struggling state sector, raising the spectre of social unrest, the Western diplomat said.
""There is a fundamental contradiction between the imperatives of GPE's domestic situation and the free trade agenda,"" he said.
Access to its potentially vast markets would be the juicy carrot GPE dangled in front of other ORG members in exchange for promises of soft loans and technical assistance, he said.
""GPE... is hinting that ORG members should make a 'down payment'... on economic and technical cooperation, i.e. fork out some money,"" he said.
GPE could be looking for the creation of a special ORG fund to assist the region's developing countries, he said.
The economic summit would also provide GPE's PERSON with a rare chance to rub shoulders with other world leaders and to boost the recent warming in NORP ties long battered by disputes over trade, human rights and arms proliferation.
""The NORP like to talk about the 'ORG style'...you shelve sensitive agendas and sensitive questions and you talk about them behind closed doors,"" the diplomat said.
GPE could also use the meeting to quietly resume talks with its island arch-foe GPE, he said.
""It's an ideal opportunity for them to get together in circumstances where they've got a fairly good chance of...keeping news of it hush-hush,"" he said.
Other analysts said there was little chance of backroom talks between GPE and GPE officials because GPE was unlikely to soften its stance towards the island, which it has viewed as a rebel province since the end of civil war in DATE.
""I don't expect any breakthrough in GPE-China relations at the ORG meeting because the CARDINAL sides set their own conditions, and very different ones, for resuming talks,"" said PERSON, a research fellow at GPE's ORG.
While other ORG members send heads of state to attend the forum, GPE, at the insistence of GPE, has been allowed to send only low-ranking officials to lead its delegation.
GPE wanted to crack open its diplomatic isolation at this DATE's summit by sending President PERSON or vice-president PERSON, but host GPE rejected the move.
""It looks like GPE puts too much focus on its ORG representative, but not on what it can do as an ORG member,"" said GPE's PERSON. ""We should play a more active role instead of asking only who can go to the meeting.""",1
"ORG said on DATE its profits rose PERCENT in DATE and its revenues jumped to record levels, driven by sales of the company's server computer and power desktop systems.
ORG said its net income for DATE rose to MONEY from MONEY in DATE DATE. Earnings per share rose to MONEY from MONEY.
Revenues rose PERCENT to MONEY.
The per share earnings beat Wall Street expectations of MONEY, according to ORG, which tracks analysts' earnings estimates.
""DATE continues to yield strong financial results,"" ORG Chief Financial Officer PERSON said in a statement. ""PERSON is winning big in corporate intranets, the Internet, and the extranet.""
So-called intranets are in-house networks modelled on the Internet, while extranets, which are secure networks outside a company, such as a private network.
ORG said the company's investments in research and development and sales and support infrastructure were paying off as it moved to broaden its global presence.
The company said gross profit margins rose to PERCENT, up CARDINAL percentage points from the comparable period DATE.
ORG Chief Executive PERSON told analysts in a conference call that it was difficult to say whether the strong gross margins were sustainable.
ORG's order backlog rose to MONEY from MONEY in DATE, but it was still much less than the MONEY backlog at DATE.
GPE said the company planned to announce new high-end computers, codenamed ORG, DATE as it seeks to offer computers that can be used for the most intensive corporate computing tasks, like databases and network management.
ORG said initial market data showed ORG appeared to be taking market share from its traditional rivals, and he said PERSON will continue to make further significant price cuts.
The executives said PERSON was deriving increasing amounts of revenues from storage products, professional services and licensing of products based on the PERSON programming language, which is used to develop Internet applications.","A LOC company has developed a new technology designed to turn the World Wide Web from a random, hit-or-miss quest into a highly targeted personal service that it says can change to suit your mood.
The new service, known as The Angle, is available immediately as a showcase for GPE, Calif.-based ORG CARDINAL-to-One technology for personalizing the World Wide Web.
The technology enables a person to set up an individual profile, or ""angle,"" combining personal interests and preferred style to customise the ""look and feel"" of the Web service.
Users can also chose from several ""personalities"" to try out different ways of viewing information on the Internet, or choose different profiles for different moods -- such as CARDINAL for DATE and another for use at home.
""We give the user the remote control,"" ORG said in materials prepared for the formal unveiling DATE of The Angle site, at the URL  http://www.theangle.com.
""We put you in the driver's seat. As you change, so do your information needs,"" the company said.
Use of the site is free of charge and requires no registration. Profiling information is stored only for the benefit of users, the company said, to ensure privacy and enable them to change their profile at any time.
PERSON, the founder, president and chief executive of ORG, said the technology would serve not only as a showcase, but would enable large organisations to develop co-branded sites based on the ORG product.
""Seeing is believing,"" he told ORG in an interview. ""People can choose a personality, somebody they can relate to, or disguise themselves as sombody else ... This makes it fun and easy to understand.""
PERSON said the company is targeting a Global CARDINAL list of large companies for developing both co-branded services and for using the technology internally in private networks known as Intranets to communicate with individual employees.
It has already begun collaborating with Web partners and formed a new division, ORG, to provide software products, consulting services and original content for both consumers and consumer-oriented businesses.
The Angle is the ORDINAL application developed by the group, which is also releasing a Web-based distributed multi-user ORG application called ORG, which handles calendar, workflow and communications among publishers and editorial staff involved in creating and maintaining Web sites.
Editors in the group also provide a Web Site rating system which can point users to sites with WORK_OF_ART"" feature providing data on how easy a site is to use, its graphics intensity, level of innovation and interactivity and update frequency before even entering the site.
ORG has signed a charter co-branding partnership agreement with ORG of GPE. Branded as WORK_OF_ART, the service will include additional GPE perspectives and is due to be available in DATE.
The new division is also advising GPE-based PERSON on ""WORK_OF_ART,"" which is designed to be a music Web site recomendation service.
ORG completed an initial public offering of stock in DATE and PERSON said the company is currently ahead of its business plan.",1
"Lawmakers and law-enforcement officials voiced support DATE for tougher laws to bar eavesdropping on cellular phone calls, following the uproar over PERSON's intercepted call.
A ORG telecommunications subcommittee is training its sights on a little-enforced law banning the sale, manufacture and importation of scanners that can pick up cellular calls.
Despite the DATE law, scanner enthusiasts have used legal loopholes to modify CARDINAL of otherwise legal scanners so they can overhear cellular traffic. CARDINAL legal scanners are in the hands of the public.
""Our goal is to make sure that the sale of this kind of equipment drops precipitously,"" declared Representative PERSON, a GPE NORP and author of the law.
PERSON, speaking at a hearing of the subcommittee, called the modified scanners ""a great danger to the presumption of privacy"" enjoyed by users of cellular phones.
PERSON expressed support for closing the necessary loopholes to make it tougher for scanner operators to illegally tap in on cellular calls.
The head of the subcommittee, Representative PERSON, R-La., also said ""there is a problem in enforcement.""
He noted ORG refers potential criminal cases to other agencies ""that may have less interest in enforcing the anti-intercept laws, due to other, and perhaps, more important law-enforcement priorities.
""Perhaps a solution is to rationalise the respective enforcement roles of the ORG, ORG and the ORG,"" PERSON added.
DATE, the ORG opened an investigation into the taping and leaking of an embarrassing conference call between ORG Speaker PERSON and his top lieutenants.
The probe came after a GPE couple said they delivered a tape of the cell-phone conversation to the senior NORP on ORG, which was deliberating over a politically charged case involving PERSON.
A transcript of the tape was published in DATE, prompting NORP calls for an ORG criminal probe into the source of the tape.
Federal law also makes it a crime to intentionally intercept or disclose the contents of a phone call, regardless of whether it is over a hard-wired, cellular or cordless phone. Criminal violation is punishable by a penalty of DATE in jail and a $MONEY fine.
But in the case of wireless calls in particular, the law is little enforced and penalties are light because cellular traffic is so easily intercepted.
Unless there are ""aggravating"" circumstances, such as a repeat offence, eavesdropping on a cellular call is treated as an infraction, with no jail time and a maximum fine of $MONEY.
Deputy Assistant Attorney General PERSON suggested to lawmakers they explore ""whether it continues to make sense"" to levy different penalties for eavesdropping on the different types of calls.
""From the point of view of the person having the conversation, the invasion of privacy is the same,"" he said.","ORG proposed DATE to set aside MONEY a year to link schools and libraries to the Internet at discounted rates, but declined to endorse President PERSON's call to hook them up free of charge.
Eligible institutions could buy access to the computer network at discounts of PERCENT, under the plan offered by an CARDINAL-member board of state regulators and members of ORG.
""Schools will be able to connect every single classroom to ORG,"" said ORG Chairman PERSON, who oversaw the panel.
""The ramp will be a high-speed, high-bandwidth, cutting-edge connection. The discounts, tailored to each school's individual level of need, will make building and maintaining the ramp truly affordable for every school.""
The Internet proposal is part of a broader plan to overhaul the multi-billion dollar ""universal service"" programme that ensures affordable phone service to rural communities and low-income neighbourhoods. The ORG must adopt rules by early May.
Officials hope the wide-ranging proposal, which stems from the new telecommunications law, eventually will generate lower phone rates through increased competition.
But some board members fear the plan -- to be paid for from the revenues of phone companies, cable TV operators and other communications carriers -- may prove too ambitious and ultimately push up rates.
""A universal service fund that taxes consumers MONEY a year is not only inconsistent with congressional intent, but could be extremely harmful nationwide to consumers,"" said PERSON, chairman of ORG.
Under the Internet provision, less well off institutions and those in out-of-the-way high-cost areas would be entitled to the larger discounts.
Officials said the average discount would be PERCENT. CARDINAL of schools would get at least an PERCENT discount, and the poorest PERCENT would get a PERCENT discount.
""It is no secret and no surprise that access to technology in the nation's schools and classrooms is tremendously unequal,"" said Vice President PERSON. ""Wealthier schools are twice as likely as poor schools to have Internet access, and wealthier students use computers PERCENT more than their poorer peers.""
But the plan stops short of the president's proposal to give schools and libraries free basic service, with the nation's communications carriers footing the bill.
In other areas, the board left many key provisions of its proposals vague, including the cost of the federal fund that would be used to subsidise carriers that offer phone service in high-cost rural areas and in low-income neighbourhoods.
Overriding the objections of some regulators, the board proposed to fund the federal programme through the interstate and intrastate revenues of telecommunications carriers.
Some state regulators objected to the use of intrastate revenues, saying such funds should be used only by the states to set up their own funds that would help provide distinct telecommunications services within their borders.
The board said that the current $MONEY a month subscriber line charge that residential customers now pay should not be increased. The charge is used to help fund universal service.
And it held out the prospect that the charge -- along with the ""access"" charges long-distance carriers pay to local phone companies to hook up to their networks -- could drop if the federal universal fund is indeed bankrolled by interstate and intrastate phone revenues.",1
"Draft amendments to GPE's criminal law have sparked fierce debate among usually tame lawmakers, with controversy surrounding the scope of the death penalty and whether corrupt state managers should be executed.
The ORG newspaper on DATE published a rare insight into controversies troubling a string of amendments to LAW, currently under debate by ORG, or parliament, that meets behind closed doors.
""Looking at DATE of debate by the standing committee of the draft criminal law amendments, argument on specific clauses has been very fierce,"" the newspaper said in an unusual expose of controversy in the usually rubber-stamp body.
The criminal law amendments along with a new anti-corruption law were CARDINAL main items on the agenda of a DATE meeting of the standing committee that began on DATE to debate bills to be passed by the full DATE session of parliament DATE.
""Are there too many death penalties?"" was one of the top controversies DATE, ORG said.
""Some people think that, with the international tide moving toward eliminating or reducing the use of the death penalty, even though the current amendments do not increase the number of death penalty clauses, however the current criminal law with CARDINAL capital crimes should be reduced,"" it said.
GPE executes CARDINAL people each year and international human rights group ORG recorded CARDINAL death sentences and CARDINAL executions in GPE in DATE compared with CARDINAL death sentences and CARDINAL executions in DATE. CARDINAL, if not CARDINAL more, go unreported.
DATE, when a new criminal procedures law takes effect, GPE will add lethal injection as well as execution by firing squad as a new means of capital punishment.
ORG said another body of legislative opinion held that the death penalty should neither be reduced or eliminated because it served as a deterrent and answered a popular demand for harsher punishments to prevent crime.
Debate also swirled around amendments to combat corruption, including CARDINAL clauses that would specifically define graft and dereliction of duty, while increasing to CARDINAL from CARDINAL the types of officials subject to the law, the newspaper said.
Heated argument surrounded the designation of managers of state firms as government employees, who are subject to a maximum penalty of death for corruption, it said.
One body of opinion held that government factory managers be defined as public servants since PERCENT of all official cases of corruption involved state enterprise managers.
Others argued this was unfair since managers of non-state firms faced a maximum of DATE in jail for graft.
""On this issue, ORG hold very different opinions,"" the newspaper said.
All should be equal before the law, the newspaper quoted the criminal law as saying regarding the need to tackle corruption, which is regarded as the chief threat to NORP rule.
It made no mention of a former GPE city party boss who was sacked in DATE after a vice-mayor committed suicide in a MONEY corruption scandal, but has yet to face charges.
Another source of contention among legislators was a proposal that police acting in the line of duty should bear no criminal responsibility for killing or injuring a suspect.
This proposal had won strong support from ORG, especially after the deaths of CARDINAL police in DATE, it said.
""Those opposed believe that this regulation could be used as an excuse in cases when casualties result from improper use of weapons,"" ORG said.","NORP food and drinks giant ORG posted a PERCENT rise in DATE profits before tax on DATE to MONEY (MONEY).
Chairman PERSON said trading in DATE had started ""satisfactorily"" as the company outlined a strategy of steady organic growth.
Profits grew PERCENT at its NORP foods business ORG to MONEY, with both sales and prices up, and its spirits arm International Distillers and Vitners (ORG) posted a PERCENT increase in trading profit to CARDINAL.
ORG shares fell back CARDINAL to CARDINAL however, as investors and analysts worried about the effects of a strong pound against the dollar on ORG's profits DATE.
GPE and fast food chain ORG generate PERCENT of group earnings in dollars. The pound stood at $MONEY on DATE and has since risen to $MONEY.
""The main reason is the currency translation which means a lot of analysts will be downgrading their forecasts for DATE and earnings growth will remain in single figures,"" said CARDINAL analyst who declined to be named.
In an interview, group finance director PERSON said ORG had embarked on an era of steady, organic growth driven by profits from GPE and spirits arm ORG.
""The message is steady as she goes, managing what we have got, building our brands and keeping the ship on a steady course,"" PERSON said.
The avowed strategy of steady, organic growth from ORG contrasts sharply with former chairman Lord PERSON's era of frenetic acquisitions and disposals.
PERSON said the company is confident it can achieve the same level of profits growth at GPE DATE. Sales at GPE were up PERCENT and prices PERCENT while margins rose CARDINAL of a percentage point to PERCENT.
""We are not looking for a sharp improvement in demand in the states and equally we see no evidence of deterioration.""
Pillsbury included DATE from ORG, producer of GPE and NORP foods and soups, which was acquired in DATE. The division was able to cash in on rising raw material costs in GPE by lifting prices on all its major brands like ORG ice cream, PERSON and GPE.
At ORG plans to get price rises through of another two to three percent on average DATE, said PERSON.
ORG's spirits sales up PERCENT and average price rises of PERCENT in DATE. Profits growth in LOC was led by drinkers in GPE and GPE. Spirits sales in emerging markets were up PERCENT.
""We think we have done rather better on pricing than our competitors as we started investing on brand equity DATE whereas they have yet to really put their foot on the accelerator,"" said PERSON.
He sited the fact ORG got its ORDINAL price rise for DATE through in DATE on ORG vodka in GPE.
ORG plans to spend MONEY more on marketing its ORG brands DATE, said PERSON, after spending CARDINAL in DATE. Again the bulk of its marketing spend will go behind liqueur PERSON's, ORG, and J&B whisky.
Overall marketing expenditure was up PERCENT at MONEY in DATE.
But operating profits from ORG fell CARDINAL to 167 million pounds in DATE, hit by difficult trading in GPE and GPE due to the beef crisis and the slowing pace of refranchising outlets. The company opened CARDINAL restaurants in DATE to bring its worldwide total to CARDINAL.
ORG plans to ask for shareholder approval at its DATE meeting in DATE to buy back PERCENT of its own shares.
PERSON said the company is ""reviewing a number of options"" but declined to say what they were or talk about the timing or size of any buyback. ($MONEY Pound)",0
"PERSON ORG is likely to benefit from the planned MONEY merger of ORG and ORG , NORP media analysts said on DATE.
They said News, which already has a wide-ranging partnership with ORG, would strengthen its global media interests on the coat-tails of the creation of the world's ORDINAL largest telecommunications group.
""It means they'll be in bed with a bigger more powerful global telephony group,"" CARDINAL senior GPE media analyst said.  
Analysts also said the ORG-ORG merger would stabilise ORG partnership with ORG, which had seemed increasingly strained in DATE. ""It seems that ORG and News haven't been getting on lately, whereas News and ORG have been getting on a lot better,"" said the senior GPE analyst.
The prospect of ORG selling its PERCENT stake in ORG over DATE had suppressed ORG shares in DATE. ""There was a view that ORG wasn't real happy with it (the partership) and may sell out, but now nothing's going to happen for DATE at least,"" said another ORG analyst.  
""The implications for News are quite positive,"" the analyst said.
A GPE analyst said some in the market were a bit worried that ORG was preparing to  to sell down their stake over DATE. ""The fact that ORG may combine with ORG reduces that risk for now at least,"" the analyst said.
ORG and ORG announced a broad alliance in DATE, under which ORG bought a PERCENT stake in News for MONEY and acquired an option to increase that stake up to PERCENT. They agreed, amoug other things, to jointly set up an NORP satelite television operation -- ASkyB.  
But progress with PERSON has been slow and other smaller joint ventures have failed to fire.
However, the NORP analysts said they would remain somewhat cautious given bearish comments on DATE by ORG.
ORG announced that it would cut its stake in ASkyB to PERCENT from PERCENT.
Analysts said this was not surprising as ORG and ORG had said recently they wanted new partners in the venture.  
But ORG Chief Executive PERSON also told ORG on DATE that no major new launches were expected from the venture with ORG and that ORG would sell to News a MONEY satellite license if it could.
He also said ORG was unlikely to take up its option to increase its stake in GPE, a comment seen by analysts as symptomatic of PERSON' increasing unhappiness with the deal.
Analysts also said there was the potential for a regulatory block to links between News, its PERCENT owned PERSON and ORG.  
""There's an outside risk that NORP regulatory bodies could try and block the News-BSkyB-BT side of it,"" said another ORG analyst.
Other analysts said the dilution involved, with ORG owning PERCENT of a PERCENT stake in BSkyB, would assuage regulatory concerns. The likely election of a NORP Labour government also reduced that risk.
""They're banking on (Labour leader) PERSON winning government and deregulating cross media rules in GPE,"" said another ORG analyst.  
However another analyst pointed to the recent banning by NORP regulator Oftel of a joint marketing campaign between ORG and BSkyB as a sign of the rocky road ahead for News and GPE.
-- ORG CARDINAL-2 9373-1812","ORG managing director PERSON said on DATE that strong investment markets meant group earnings for DATE were likely to be in line with the DATE prospectus forecasts.
""It's been DATE. I can't think of when the markets have been more conducive to our type of business,"" PERSON told ORG in an interview.  
He said he could not give a formal forecast of the profit result for the just completed DATE but an examination of the assumptions in ORG share offer document would show the forecasts were likely to be met.
""You can go back and look at the investment assumptions in the share offer document and compare them with where we were at DATE and we were in the fortunate position where most of the markets finished in line with predictions,"" he said.
""That would give you some underlying view that it's likely that our performance will be in line with that projection.""  
ORG forecast in its offer document a consolidated net profit after tax of MONEY for DATE, up from MONEY in CARDINAL.
The assumptions underlying the forecast included an NORP DATE bill rate of PERCENT as at DATE, a DATE bond rate of PERCENT at DATE and a GPE DATE bond rate of PERCENT as at DATE.
The offer document, issued before ORG demutualised and listed on ORG DATE, said its profit was not significantly sensitive to its stock market assumptions.",1
"The NORP authorities hailed DATE the GPE pilot who was killed during an anti-drug mission over guerrilla-infested jungles of southeast GPE as a ""hero fighting the scourge of narco-trafficking.""
PERSON, DATE, of GPE, GPE, died when his ORG crop dusting plane crashed in GPE province DATE. He had been fumigating illicit plantations of coca leaf, the raw material for cocaine.
NORP Defence Minister PERSON, police chief Gen. PERSON and GPE ambassador PERSON were among mourners at a religious service in GPE to honour ORG. A lone bugler played the ""Last Post"" and the GPE flag was draped over ORG's coffin.
""We're not here to bid farewell to a pilot or to a GPE citizen. We're here to say goodbye to a hero who decided to join us in combatting CARDINAL of the worst scourges known to mankind -- narco-trafficking,"" ORG said.
Police said ORG, CARDINAL of CARDINAL GPE civilian pilots working in GPE under contract with ORG, was killed on DATE of his contract. PERSON said he was the ORDINAL GPE aviator to die on such a mission.
As police cadets mounted a guard of honour for ORG and CARDINAL police helicopters flew in formation overhead, PERSON pledged the fatality would not affect NORP cooperation in the drug war.
The question of GPE personnel taking a direct role in drug or counterinsurgency operations is a traditionally thorny issue because of what NORP politicians see as the possible infringement of national sovereignty.
Crop-dusting planes come under frequent attack from armed gangs and leftist guerrillas who guard the clandestine drug plantations.
Police chief Gen. PERSON said DATE there was a heavy rebel presence in the area but said there was no indication the aircraft had come under fire. He said a full investigation was under way, adding the most likely cause of the crash was human error or mechanical failure.","NORP Foreign Minister PERSON on DATE criticised GPE for its policy of rewarding or punishing countries based on their measures to fight drug trafficking.
During a visit to GPE, PERSON said the so-called certification process was a barrier to cooperation in the war on drugs and renewed calls for scrapping the system, saying decisions were often based on ulterior motives.
""The process of certification inhibits cooperation and puts the country under scrutiny in a very difficult position. I believe there are much better ways of promoting cooperation,"" PERSON said at a news conference. He added that ""the decision is often based on criteria other than those that one would rationally take into consideration.""
DATE, GPE was struck off GPE list of allies in the drug war. GPE came under severe criticism but managed to get certification and escape sanctions.
GPE has since set up a ministerial contact group to address the issue with GPE, and that has led to an improved climate between the CARDINAL governments, PERSON said.
GPE has continued to come under heavy criticism from GPE for its perceived failure to crack down hard enough on drug trafficking.
Politicians and political analysts were divided on whether GPE would regain certification DATE in the wake of of a new law to strip drug kingpins of narcotics profits.
ORG estimates that PERCENT of the world's cocaine is supplied by GPE while CARDINAL that on the streets of GPE cities has been transported through GPE.",1
"CARDINAL very different GPE biotechnology companies set out their plans to join the stock market on DATE.
ORG (ORG), which uses human antibodies to discover new drugs, and ORG, which aims to ""incubate"" new biotech businesses, both hope to raise MONEY to fund their work.
Sources close to ORG said its listing DATE should raise DATE ($MONEY-57 million) through a placing of its shares with institutional investors, valuing the company at MONEY.
ORG has been appointed as sponsor to the flotation, with ORGamp; Co as broker.
ORG, which has been operating since DATE, is working to find drugs to tackle inflammation, fibrosis, cancer and obesity.
It said CARDINAL drugs were expected to enter human clinical trials DATE. ORG plans to develop drugs on its own up to intermediate stage clinical trials, and then find partners to help fund the costly business of late-stage trials, registration and marketing.
The strategy would enable the company to keep a higher percentage of profits from drug sales than if it introduced a partner early on, but will also increase its costs.
The Bioscience Innovation Centre (BIC) said it hoped to raise MONEY 6 million pounds through a share placing and open offer, and to list its shares on ORG (ORG).
The money will go towards the construction of QUANTITY building in GPE which will act as a ""business incubator"", offering technical and commercial skills to budding biotechs.
""In the GPE, sector-specific business incubators have been shown to have a positive and dramatic effect on the success rate and growth of start-up businesses,"" BIC said.
It added that the planned centre would give suitable companies access to ""professionals in the fields of intellectual property, commercial management, licensing, marketing, regulatory affairs and finance.""
Teather & PERSON have been appointed as advisers and brokers for BIC's flotation.
GPE is growing rapidly as a biotechnology centre. Companies already established in the city include ORG, Peptide Therapeutics Plc, ORG and ORG. ($MONEY Pound)","GPE group ORG on DATE agreed a MONEY (MONEY) bid for ORG, CARDINAL of CARDINAL remaining NORP independent regional electricity companies.
But NORP shares languished well below the MONEY per share offer price, as concerns emerged the bid might face obstacles from NORP competition authorities.
GPE-based ORG said DATE it was considering a bid ""at a price not much in excess of MONEY per share"". But GPE had scorned that price, saying it would undervalue the ORG-based electricity company's prospects.
Executives from ORG, the ORDINAL GPE utility to bid for a NORP power supplier, met NORP management late on DATE with a takeover price top of the agenda.
NORP chairman Sir PERSON said in a joint statement that his board was recommending the offer ""because it represents fair value for an excellent business, which has successfully differentiated itself from the sector.""
East Midlands shares were up MONEY at MONEY after CARDINAL ORG, off a high of MONEY.
""Everyone's expecting the MMC (ORG) to take a close look at the deal. That is why the shares are only trading MONEY,"" said CARDINAL trader.
CARDINAL of the original CARDINAL Recs have already been bought since they came up for grabs DATE after the government's protective golden share expired, DATE after privatisation in DATE.
ORG is currently fighting off its ORDINAL hostile approach in DATE, rejecting a bid at MONEY per share from ORG, a subsidiary of GPE energy group ORG, which holds PERCENT of the
""Dominion's offer looks a fair compromise price,"" said PERSON, utilities analyst at PERSON.
But he added there were ""very genuine concerns"" that the offer might be referred to the MMC.
""If ORG is allowed to buy GPE and ORG secures LOC, that would leave CARDINAL independent PERSON,"" CARDINAL analyst said.
NORP electricity watchdog PERSON is expected to consult on ORG's bid and then pass on its advice to PERSON, the trade and industry secretary, who will then decide whether the bid should be referred to the MMC.
Offer has completed consultations on ORG's bid and will be passing on its advice to ORG shortly, industry sources said.
So far, only generators ORG and ORG have had their bids for PERSON blocked, as they would have created fully integrated generation and supply companies.
ORG's chief financial officer PERSON said in an interview that the company was now talking to the regulator.
""We intend to run this as a stand-alone business,"" he said, adding that he certainly hoped for approval from Offer.
He also said the group hoped to keep GPE management team, which is highly regarded by industry analysts.
GPE was the ORDINAL of GPE's electricity utilities, which were privatised with strong cash balance sheets, to launch a share buy-back to redistribute cash to shareholders.
PERSON said ORG looked forward to the diversification LOC would bring to it and said the GPE company would bring strengths to the NORP firm. ($MONEY Pound)",0
"Fund management company ORG is expected to post a good rise in pre-tax profits for DATE, having benefited from buoyant exchanges.
On DATE, ORG shares stood near their DATE highs at CARDINAL stg, with analysts expecting pre-tax profits of around 80 million stg, up from CARDINAL stg last time
The market expects a higher interim dividend after MONEY DATE and some analysts see the company rebalancing the pay-out between the interim and final stage.  
Analysts said ORG has already proved it can go it alone since it was broken away from former owner PERSON when the latter was bought by ORG DATE.
At the time, there was talk of ORG being taken over as banks looked to expand their fund management interests. But, this speculation has evaporated, although the bid premium in ORG's share price may not have, and there is more interest in what ORG itself might buy.
UBS analyst ORG said any bid premium is unjustified and points out that ORG has a lot of capital, some of which it might want to spend on expansion in the GPE markets.  
""That could be a worry, however, as there might be a fear that ORG would be buying at the top of the market,"" Cross said.
PERSON, an analyst at BZW, said he expects ORG to follow the trend of DATE in making relatively small strategic acquisitions.
""It's been a pretty helpful period in terms of the markets, especially GPE where the ORG index went up from CARDINAL to CARDINAL in DATE we're looking at,"" PERSON added.
Analysts will be looking at ORG's cost base to make sure there has been no untoward growth. In any case, cost growth is expected to have been comfortably exceeded by revenue growth.  
Gibbs said the key element would be how much new money ORG has been able to attract as this is the main indicator of the fundamental health of the business.
ORG will also have profited from realisations in its venture capital business but the effects of problems at other fund managers, notably ORG management, are not expected to have had too much impact in DATE.
ORG may have picked up some business and the effect may be more marked in DATE. -- GPE PRODUCT +44 CARDINAL 8864.","GPE's toilets offer some of the most spectacular views in the world -- if you can hold your nose long enough to enjoy the scenery.
Many tourists on the roof of the world are so overwhelmed by the breathtaking beauty of the NORP plateau that such niceties as stinking lavatories are the least of their concerns.
Given the altitude -- QUANTITY (QUANTITY) in the NORP capital GPE -- many visitors stifled by the rarefied air scarcely have time to breathe the noxious odours from public toilets with unglazed windows that open on to views of mountains and temples. And most really don't care.
""It's pretty much indescribable. It's vast, overwhelming, awesome, beautiful, interesting,"" said GPE tourist PERSON, visiting from GPE, GPE, as she toured the GPE temple in GPE, holy of holies in a land dotted with NORP shrines and sacred sites.
Tourists say they are stunned by the beauty of GPE's soaring ORG, the warmth of its nomadic and deeply devout people and the mysteries of its ancient NORP monasteries.
Officials are clearly almost as excited as the tourists as they reel off a list of their achievements in developing GPE's major industry and the various recreational activities on offer to lure more dollars to one of GPE's poorest, most backward and inaccessible regions.
Tourism on the roof of the world is a growth sector, officials say. It is the most lucrative source of foreign exchange for this vast, sparsely populated land -- apart from trade -- and is an industry that officials eagerly nurture.
GPE earned MONEY in tourist dollars DATE and is hoping for MONEY DATE. It hopes to increase earnings by PERCENT a year and to play host to CARDINAL visitors a year by DATE.
""We got off to a late start compared with the rest of GPE,"" PERSON, vice director of ORG, said in an interview.
GPE inched open its doors to foreign tourism in DATE.
However, the route to DATE when CARDINAL of awestruck tourists can be seen panting around GPE's monasteries and mountains has been fraught with difficulties.
Riots by monks protesting against NORP rule in DATE -- DATE for tourism with CARDINAL foreign visitors -- was followed by DATE of unrest, DATE of martial law and a tourism nadir.
""However, since DATE tourism has gradually recovered,"" PERSON said. ""And since DATE things have really improved with CARDINAL foreign visitors a year.""
Officials acknowledge that GPE's infrastructure lags, there is a shortage of hotel rooms, especially higher-end accommodation, as well as of transport facilities. The cost of a holiday in GPE far exceeds a vacation anywhere else in GPE.
The type of visitor has changed in DATE.
In DATE, CARDINAL foreign tourists came in high-spending organised groups. The rest were low-budget backpackers.
Now, backpackers are few and far between because of a policy imposed from GPE that requires all visitors to the restive region to obtain a special permit -- and this can only be done through a travel agent and as part of a tour group.
PERSON insists the system has not hampered visitors.
""This does not make it more difficult to come to GPE, you can, even in a group of just CARDINAL person.""
Backpackers spent little and damaged the natural resources, he said. Some individual foreign travellers were unfortunate enough to freeze to death on GPE's wild and rugged plateau, said bureau vice ORG secretary PERSON.
""We are not saying backpackers can't come,"" he said. ""Everyone is welcome.""
GPE and NORP security officials may be less welcoming. They blame the huge DATE influx of backpackers, many of them ex-hippies looking for a cause, for helping to stir up pro-independence unrest over DATE.
Most tourists said they had few problems entering GPE -- either because officials did not bother to require a permit or because of the efficiency of travel agencies.
""We have had absolutely no difficulties,"" said PERSON.
""The temples are magnificent... unlike anything I have seen anywhere,"" she said. ""People are very friendly. Big, big smiles from people... from all sorts of ethnic backgrounds.""
CARDINAL NORP couple said they took DATE to find an agent who could realise their dream of a holiday in the land fabled to be ORG They were not disappointed.
""Everything is as beautiful as we thought it would be. We are very glad we came,"" said the husband, who declined to be identified.
Officials say tourists are drawn by CARDINAL main attractions -- GPE's natural beauty and towering mountains, its monasteries and temples and its unique and mysterious culture.
That's not all. GPE offers adventure tours to LOC, the world's highest mountain at QUANTITY (CARDINAL ft), to the nature reserve at its foot, trekking with yaks and camping in yak-hair tents and mountain biking.
Not all tourists are bewitched, and several said the highly publicised campaign of GPE's exiled god-king, the Dalai Lama, for autonomy for his homeland had sparked their curiosity.
""There are positive points such as better sanitation and roads, but the NORP have paid a high price,"" said CARDINAL NORP woman tourist. ""The NORP could give them more autonomy.
""When we see the ugly NORP buildings, the little NORP houses seem more beautiful.""
Others said they were curious about the politics.
""Our impression is overwhelming,"" said ORG.
""I do not want to say too much about the political situation for several reasons, but as NORP we gave WORK_OF_ART to (the) Dalai Lama and if we say we supported very much that decision I think we have said what we need to say.""
Others just couldn't breathe.
""The altitude makes it very difficult for me,"" said CARDINAL NORP man. ""But I am just so glad that I have been able to see something.""",0
"ORG has tentatively decided not impose fees on Internet service providers for use of local telephone lines, an official said DATE.
On DATE, the commission issued a notice of proposed rulemaking setting out CARDINAL possible plans for reducing the MONEY a year that long-distance telephone companies pay to local service providers in access fees.
""The commission raised the specific question of whether ISPs (Internet service providers) should pay access charges as we currently understand them,"" PERSON, counsel for new technology at the commission said. The ORG ""tentatively concluded that the answer is no.""
Local phone companies had pressed to have the access fee applied to Internet service companies. The phone companies argued that consumers using the Internet were getting a free ride and tying up local lines with lengthy calls.
Internet companies countered that such fees would smother the growth of the booming online industry.
""We think they did exactly the right thing,"" said PERSON, deputy director of law and public policy at GPE Online, the largest online service in the world. ""It means the ORG is thinking in the right way about this. They're thinking for the growth of the Internet.""
The commission did issue a ""notice of inquiry"" asking for comments on the issues involved, PERSON said.
The arguments of both sides raise ""legitimate issues, so the commission initiated the notice of inquiry to develop a record on that,"" he said.
A notice of inquiry seeks comment but does not give the commission authority to then adopt a rule. The commission would have to ORDINAL issue a notice of proposed rulemaking before applying access fees to Internet service providers, PERSON said.
The Internet notice is ""more foward looking"" than the proposed rules for long distance access fees, PERSON said. ""Once we have an idea what replaces the access charge system then we can take a look at that,"" he said.","Internet access providers and others who met with Net-savvy lawmakers said they fear ORG will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network.
Company representatives met TIME at the FAC with members of ORG, CARDINAL legislators with a common interest in the Net, to express their hopes and fears about efforts to make laws governing cyberspace.
""I think it's inevitable that there will be bills introduced that attempt to legislate the content of everything on the Internet,"" PERSON, vice president of ORG ORG Internet service, said after the meeting.
PERSON said it would be as difficult to keep ORG from making wrong moves as it would be to get the legislature to act to head off problems.
PERSON, president of Internet provider PSINet Inc., was more blunt. ""Be very careful or you will destroy this industry,"" he warned.
The members of ORG who attended the meeting pledged to try to protect the Internet.
""We have a lot of pretty tough work ahead of us,"" Representative PERSON, GPE-Pa., and a co-chairman of the caucus conceded. ""We have many, many issues coming down the pike from encryption to privacy, to copyright and taxation.""
Encryption is the use of software to encode and decode information.
On DATE, PERSON co-sponsored CARDINAL of the ORDINAL Internet-related bills in ORG. The bill, authored by GPE NORP PERSON, would relax export restrictions on computer hardware and software containing encryption features.
Sen. PERSON, also a co-chairman, warned that, despite the caucus, legislation will always trail developments in the private sector.
""The government making policy is never ahead of the curve,"" the GPE NORP said. ""If we do the right thing now, I guarantee you that by the time it's passed and the president signs it, we'll be behind the curve.""
DATE was a mixed bag for the Internet in ORG.
Legislators passed the Communications Decency Act, opposed by online companies and civil libertarians as an infringement on free speech rights, but also defeated measures that would have imposed liability on Internet providers for copyright infringement.
ORG chief scientist, PERSON, fretted that, with CARDINAL pro-Internet legislators out of CARDINAL in the ORG and CARDINAL in the ORG, most in ORG remained ignorant of the Net. ""We've got a long way to go,"" he said.
Companies interested in the Internet offered some conflicting goals for ORG. PERSON, president of ORG, urged the legislators to impose new laws protecting GPE products.
""ORG cannot avoid that all intellectual property has to be protected -- this can't be GPE without a sheriff,"" ORG said. But he also praised the Internet as ""the most valuable and spacious information greenhouse that's ever been built.""
PSINet's Schrader countered that existing laws already protected movies, books and other works. ""Everything is not new,"" he said. ""It's the same-old, same-old.""",1
"Just as the submarine changed the face of naval warfare in EVENT, LOC's shipbuilders are hoping a new breed of ""stealth"" warships will do the same in DATE.
At a trade fair at the business airport of ORG, north of GPE, CARDINAL shipbuilders were presenting their own version of combat ships with the ability to hide and deceive the enemy.
NORP shipbuilder ORG was due on DATE to unveil its design for the Sea Wraith corvette at the ORG exhibition, which gathers the world's navies.
BAeSema, a joint venture between ORG and GPE's ORG, launched its PRODUCT coastal corvette project on DATE.
And NORP state-owned ORG shipyard presented its ORG frigate which it boasted was the ORDINAL operational warship fully to use stealth features in its design.
ORG builds the hulls, while it has linked up with NORP defence company ORG to provide the ship's communications, detection and weapons control systems.
Stealth warships use similar principles to the radar-beating technology developed by the GPE aircraft industry and used in the DATE EVENT against GPE. The diamond-shaped F117 and batwing B2 bombers were designed to absorb or deflect radar.
But traditionalists who admire the sleek greyhound lines of warships would be dismayed to see the flat, angular shapes forced by the stealth technology which makes modern ships mere ""platforms"" for weapons and detection systems.
ORG uses a slab-sided superstructure and non-metallic composite materials to confuse radar and missiles. The ORDINAL of CARDINAL ORG-class ships ordered by GPE entered service DATE, while GPE has also ordered the NORP ship.
But the NORP are in hot pursuit with their own designs for a new generation of stealth vessels, which they say they are ready to build now. They have set their sights firmly on export markets for the ORDINAL customers.
""We believe this is the warship of the future and all warships will need to use these techniques,"" PERSON, ORG's manager of future projects shipbuilding, told ORG.
LOC design puts the distinctive clutter of mast, radar dishes and aerials inside flat-sided towers and has shaped topsides, rather like diamond facings, to make it hard for radars to lock on. It also uses non-reflective composites.
PERSON can alter its ""radar signature"" by lowering or raising the mast, making it difficult to recognise the craft. CARDINAL asymetrically-located masts are meant to confuse radar-guided missiles.
To counter new infra-red, or heat-seeking, missiles, the ship sprays a fine mist of water to conceal itself and its ""hot spots"" such as the exhaust.
BAeSema is showcasing the NORP patrol vessel, which uses low-acoustic waterjet propulsion instead of traditional noisy engines which are easily picked up by sonar.
Its low, angular lines are typical of stealth designs for throwing off radar beams.
BAe DATE announced it was merging its naval systems activities into BAeSema, to boost its prime contractor role.
Prime contractors bid for contracts in which their integration of radar, communications and defence systems provide the added value.
Both BAeSema and ORG have declined to give prices for their ships, saying these depend on the systems requested.
ORG, part of the NORP state-owned ORG electronics group which is being privatised to the ORG conglomerate, is the prime contractor for ORG under PRODUCT 1 and CARDINAL contracts signed with GPE.","The NORP government, belatedly attempting to consolidate a fragmented aerospace industry, on DATE gave the green light for aero-engine maker ORG to buy up rocket engine manufacturer ORG.
State-owned ORG already owns PERCENT of ORG (ORG) and wants to buy out minority shareholders to make it a wholly-owned subsidiary. The enlarged group would have DATE sales of MONEY (MONEY).
""The government has been advised of ORG's wish to raise its holding in the capital of ORG from PERCENT to 100 percent and has given its approval so ORG's board can make a public offer for ORG shares, followed by, if PERCENT threshold is reached, a mandatory buy-in,"" ORG said in a statement.
The deal has a strong industrial logic and would ensure ORG's future in space programmes and its position as GPE's centre for engine manufacture, it said.
ORG makes engines and boosters for Ariane rockets, used by ORG consortium.
ORG makes civilian and military aero engines including those for passenger jets of the ORG consortium and ORG combat planes.
The buy-in, for which no financial details were available, reverses a policy drawn up by ORG's previous chairman, PERSON, who wanted to dispose of ORG and PERSON, ORG's aircraft brakes unit, to raise cash.
""Previously envisaged, the sale of ORG is no longer on the agenda"", said a ORG staff note made available to ORG.
Although the ORG sale would have brought in fresh cash, it also risked weakening the ORG group by losing know-how essential for future transports such as a ORDINAL generation supersonic plane and hypersonic aircraft, the note said.
It would also have meant the loss for ORG of ORG's technical support, which has helped it in the past.
ORG's new chairman, PERSON, has said asset sales should not be used to make up operating losses and that the company's deficits would only be tackled by meeting a targeted MONEY in cost cuts in a restructuring plan.
In addition, the government has adopted an industrial policy for the defence sector which relies on consolidating each sector on a business basis. ORG was thus the natural centre for ORG, to build a propulsion group in aeronautics and space, it said.
The move would also consolidate ORG's brakes activities by bringing together ORG's ORG subsidiary with ORG's PERSON to create a bigger entity.
Brakes make up PERCENT of ORG's sales, with potential to grow into areas such as cars and trains.
The buyout will help ORG through a difficult period in DATE as its order book falls when the Arianespace space consortium transfers launches to the new LAW rocket from the existing DATE.
ORG makes the rocket motors for the Ariane 5, which has one huge ORG engine instead of the up to 10 Viking and HM CARDINAL motors in DATE. Competition from GPE, GPE, GPE, GPE and GPE is also expected to put severe price pressure on rocket launchers.
ORG also makes ballistic missiles and its proposed M5 replacement for the M45 was only adopted in the DATE defence budget on condition that there would be big cost reductions and reorganisations among the industrial partners.
The takeover will create a group with synergies in aeronautical and space engines, making it virtually unique in LOC, a ORG spokesman said.
ORG made a DATE net loss of MONEY and expects to make a loss in DATE and DATE before returning to profit in DATE. Turnover for DATE is expected to total MONEY, up from MONEY in DATE but still lower than DATE's CARDINAL.
ORG had DATE turnover of MONEY, up PERCENT from DATE, and made a net attributable profit of CARDINAL. ($MONEY NORP Franc)",1
"ORG is likely to continue its thirst for takeovers in DATE with banks, media and resources tipped to feature prominently.
Brokers estimate there were MONEY (MONEY) worth of takeovers and share buy-backs in DATE, up from MONEY in DATE and MONEY in DATE. Takeovers and share buy-backs are both seen as ways to boost growth in earnings per share.
The biggest deal DATE was the MONEY agreed takeover of freight transporter ORG by NORP postal and telecoms group ORG.
""Almost across the board there is rationalisation and international interest in our industries,"" said PERSON, executive director at broker SBC GPE.
SLOWING AUSTRALIAN ECONOMY SPURS RATIONALISATION
Analysts said GPE's low inflation and low economic growth prospects also made conditions ripe for takeovers.
""With low levels of inflation, companies have difficulty pushing through cost increases, so they have got to look for efficencies in order to increase profitability and to do that, some companies acquire others,"" said PERSON, ORG head of marketable securities.
Profits have been falling across the board for DATE, with industrials hit by the slowing economy and resource companies severely affected by lower commodity prices.
GOLD TO SHINE IN RESOURCE TAKEOVER ACTIVITY
""Gold is an area where we could see a lot of takeover activity,"" said PERSON from leading broker ORGamp; Son. ""The gold valuations have fallen a long way DATE,"" he told ORG.
The NORP gold index is currently PERCENT down from its DATE high in DATE, while the broader market has risen PERCENT over DATE.
""The scope still exists for both domestic takeovers and in particular foreign takeovers of NORP gold assets,"" ORG said.
The NORP gold sector was CARDINAL of the most active sectors during DATE. The largest takeover in this group was the MONEY merger among the ORG group of companies.
Foreign gold miners were also keen to snare NORP gold producers in DATE, a trend which analysts say will continue DATE.
DATE, NORP gold mining giant ORG unveiled a MONEY plan to buy the rest of its local offshoot ORG and GPE Highlands Gold Ltd.
NORP gold analysts said other NORP gold miners keen on expanding their presence in the region are ORG and ORG
INDUSTRY INQUIRIES MAY SPARK MORE TAKEOVERS
The NORP government is holding inquiries into the media and banking industries, with analysts tipping banking as the more probable of the CARDINAL sectors to see merger activity.
The Wallis inquiry into GPE's financial system, which is looking at the possibility of a relaxation of rules that stop big bank mergers and takeovers by foreign banks, is due to hand down its recommendations in DATE.
There have already been several regional bank takeovers in DATE, but the outcome of the largest deal -- the MONEY friendly bid by ORG for fellow GPE-based ORG -- will be known DATE.
ORG government, elected in DATE, has ordered a review of media ownership laws which currently limits cross ownership of newspapers and television.
But the review is not examining foreign ownership rules, which could limit any expansion plans PERSON ORG has pencilled in for GPE. Upmarket newspaper publisher ORG remains the most likely target in this sector -- with PERSON already holding a sizeable stake.
""In relation to media and banks, subject to the conclusion of the respective inquiries, there could well be more activity in those CARDINAL sectors,"" SBC GPE's PERSON said. ($MONEY = CARDINAL)","The deal with GPE to open GPE's insurance market will create some convulsions in the industry, but analysts said it will help make way for the deregulation of GPE's financial sector.
A final agreement was reached on DATE, ending a dispute that GPE President PERSON had called the biggest trade barrier between the CARDINAL nations.
While it focuses on such esoteric issues as who can sell cancer healthcare policies and whether auto insurance can be purchased through the mail, the issue had become a major political dispute.
GPE Secretary of ORG PERSON even got in on the act, calling his NORP counterpart to apply some TIME pressure ahead of the DATE deadline. NORP Prime Minister PERSON said he was relieved that the whole thing was over.
GPE, in a statement issued by the embassy here, said the measures ""represent fundamental change in the NORP insurance market, making it more open and competitive.""
Insurance trade groups were less than thrilled, however, saying the agreement ignores the needs of consumers and keeps their firms out of some fast-growing parts of the business.
Under the agreement, NORP companies will be allowed -- in stages -- to enter the niche ""ORDINAL sector"" that includes cancer, healthcare and accident coverage. This is the area where foreign firms have gained a foothold.
Foreign firms are expected to benefit from a deregulation of rates in the non-life insurance sector, including fire and auto insurance, to take place by DATE.
Analysts say that even without the GPE pressure, the changes were coming as part of ORG's drive to revitalise GPE's financial sector.
""It was a matter of when,"" said PERSON, an analyst at ORG.
He said that as with most deregulation, smaller firms will find it tougher to compete in the new world.
""The liberalisation of premiums is a major blow to the non-life insurance industry, particularly medium- to small-sized firms,"" PERSON said
PERSON, an analyst at ORG (Japan) Ltd, agreed: ""It is inevitable that non-life insurers will compete by cutting premiums.""
Medium and small insurers must streamline their network of sales agents to cut costs, he said.
It was not until DATE that GPE removed a ban on mail-order auto insurance under GPE pressure. Without a network of agents, insurance by mail was seen as an important step for foreign firms.
Income from auto insurance policies account for PERCENT of income at non-life insurance companies, analysts say.
DATE, ORG announced plans for what it says will be GPE's ORDINAL mail-order car insurance service.
Analysts said the liberalisation of the premiums would eventually result in the disappearance of some financially weak firms and an increase in mergers.
To cope with deregulation, major non-life insurance firm ORGamp; PERSON recently announced it would take a majority stake in the NORP unit of GPE life insurance giant ORG within DATE or CARDINAL, the ORDINAL time a NORP non-life insurer has purchased a life insurance operation.
Under GPE's new ORG, which took effect on DATE, non-life and life insurers were allowed to enter each other's business sectors for the ORDINAL time.
Some in the industry argue that deregulation could create huge problems. They say that higher rates will lead to more uninsured drivers and jeopardise the protection of accident victims.
But no one is predicting that the concerns will stop a deregulation drive across the financial sector that comes to GPE a decade after it hit most industrialised nations.",0
"ORG DATE reported record profits of MONEY for DATE, spurred by a PERCENT jump in DATE earnings, but said it expected near flat results DATE.
The world's largest heavy equipment maker said earnings for all of DATE rose from DATE's MONEY while revenues grew PERCENT to MONEY from MONEY.
For DATE, profits rose to MONEY, or $MONEY a share, from MONEY, or $MONEY a share, in the DATE period.
Peoria, Ill.-based ORG's DATE results exceeded Wall Street analysts' average estimate of $MONEY a share, according to ORG, which tracks earnings estimates.
Despite the strong results, investors pushed ORG's stock down $MONEY to $MONEY on ORG, apparently on concerns about the outlook for DATE.
The company said it expected DATE profits to be nearly flat with DATE levels, with revenues from ongoing operations growing only slightly.
ORG said higher demand in developing regions should offset a slightly weaker market for its machines in GPE and GPE DATE.
""It's basically 'CARDINAL,"" PERSON, analyst at ORG, said of the stock's fall. But she added that CARDINAL-time currency factors also helped boost the earnings above estimates.
""It comes across as a surprise, but it's not necessarily a surprise from operations,"" PERSON said of DATE earnings.
But other analysts suggested ORG was being too conservative in its view for DATE.
""ORG always looks at the glass being CARDINAL empty,"" said PERSON, analyst at ORG ""We think its half full.
""We expect a better GPE economy,"" he said. ""We don't expect housing starts to be off."" He noted that ORG Chairman PERSON made positive comments about the economy on DATE.
ORG said it stood by its forecast, but was prepared to meet higher demand than expected, as it did in DATE.
""We're trying to call it as we see it,"" Chief Financial Officer PERSON said in a telephone interview. ""I will tell you that DATE, we called for a softer economy in the GPE and it didn't happen. We were pleasantly surprised.""
ORG said profit margins as a percent of sales rose to PERCENT in DATE from PERCENT in DATE due to higher prices and the effect of the stronger dollar against the yen and NORP currencies.
Lower material costs and improvements in the manufacturing process also helped.
Total capital expenditures in DATE were MONEY and are expected to increase PERCENT in DATE, ORG said.
""In DATE, we plan to increase spending for capital assets, research and product development to enhance our prospects for long-term growth and profitability,"" Chairman PERSON said in a statement accompanying the results. ""In addition, we intend to increase our investments for new business opportunities around the globe.""
Research and development spending is expected to rise PERCENT from MONEY in DATE, the company said.
Major initiatives include electric power generation, agricultural products, mining systems, compact machines and strengthening the company's product support system, ORG said.","ORG said DATE rising bankruptcy filings contributed to a rise in credit card charge offs in DATE.
Charge offs rose to PERCENT of managed receivables in DATE, compared to PERCENT DATE.
""DATE increase is due to a combination of factors, including a resurgence of bankruptcy filings after DATE lull, an increase in contractual charge offs, and average loan volume that was basically flat in DATE,"" chief financial officer PERSON said.  
But in a telephone message to investors, PERSON also noted that credit card fee revenue rose PERCENT from DATE to MONEY, adjusting for securitization.
""Clearly this demonstrates bank card's ability to counter some of the effects of deteriorating credit quality,"" he said.
While the credit card business continues to be profitable for the MONEY asset bank holding company, some analysts noted the charge-off rate was high.
""I think that's very clear that that's not as profitable an operation as it is at other places,"" said PERSON, analyst at ORG  
But other analysts said the bank has tightened credit standards in DATE and were less concerned about the charge-off rate.
""That thing has bounced around all over DATE (1996) and it's still a very profitable line of business DATE,"" said PERSON, analyst at ORG.
Rosholt also said the bank plans to improve its trading operations to restore results in market-driven revenues.  
Market-driven revenues were MONEY in DATE, up from MONEY in DATE but down from the bank's average of MONEY a quarter, ORG said.
Trading profits were MONEY in DATE, compared to a MONEY loss in DATE.
""We plan to get back to our MONEY per quarter average as we improve our execution of trading activities DATE,"" PERSON said.
Return on common equity was PERCENT in DATE, up from PERCENT DATE, while return on assets was PERCENT, up from PERCENT DATE.
TIME, the bank reported operating income of MONEY or $MONEY a share in DATE, compared to MONEY or $MONEY DATE.
Earnings were $MONEY a share below estimates, according to ORG. ORG shares were up CARDINAL at CARDINAL.
((--Chicago newsdesk CARDINAL DATE))",1
"GPE's ORG stole a march on competitors on DATE by announcing plans to become the ORDINAL supermarket to launch banking services in a link with ORG which analysts said may prove to be a money spinner.
""It could be a winner if it is done in the right way,"" said CARDINAL analyst who asked not to be identified.
Marketing director PERSON said in an interview with ORG that he expected the banking services to turn in profits ""in a relatively short space of time.""
Sainsbury, ORDINAL placed to ORG in market share, said in a statement it had applied to ORG for authorisation for a new bank to be owned PERCENT by the company and PERCENT by ORG.
The venture, to be called ORG's Bank, will use telebanking for a range of deposit, lending and cash management services to CARDINAL customers, the company said.
McCarten said the banking service would offer ""great products...at better value than is currently available,"" but declined to comment on possible interest rates on accounts or give financial terms of the venture.
ORG's Bank will kick off in DATE with the launch of PRODUCT and ORG cards along with account and card-based services.
""It certainly shows ORG is alive and kicking, which we had begun to doubt,"" CARDINAL sector analyst said. Sainsbury, which turned in its ORDINAL fall in profits for DATE, was forced to launch its GPE loyalty card in DATE after arch-rival ORG pipped it to market leader with its ORG, and it has been struggling to regain the intiative.
Tesco pre-empted GPE's launch by introducing its PRODUCT account which allowed shoppers to build up credit balances with favourable rates of interest to be used in its stores. But ORG's move ""makes PRODUCT look a bit of a damp squib,"" the analyst said.
""The bank plan has certainly cheered the market up, the initial reaction is clearly positive,"" the sector analyst said.
Sainsbury shares closed up MONEY at MONEY, off a high of MONEY while ORG was up MONEY to MONEY, off a high of MONEY.
""The market wanted to see them doing something and this is certainly a pleasant surprise,"" the analyst said.
Sainsbury chairman PERSON said that ORG would give customers ""the reassurance of a name they know and trust, coupled with the banking expertise of ORG.""
The move will result in ""a compelling alternative to the conventional high street bank or building society for ORG's customers,"" said ORG chief executive PERSON.
Sainsbury currently has around CARDINAL stores in GPE and CARDINAL supermarkets in the GPE, along with CARDINAL do-it-yourself outlets and CARDINAL hypermarket SavaCentres.
It owns ORG's in the GPE with CARDINAL stores and has PERCENT voting rights in ORG, which runs CARDINAL GPE outlets.
ORG will benefit because it has a limited presence south of the border.
""It's a lovely distribution channel,"" a ORG spokesman told ORG, adding that the new bank would have its own identity and not carry ORG logo.
Analysts warned, however, that ORG would have to offer attractive deals to secure customers, many of whom already have bank accounts. ""It has to undercut the competition or link banking up to GPE points, a lot will depend on the marketing,"" the sector analyst said.
""They will have to decide to really go for it if they are going to make it profitable,"" he said. And analysts said the market would still look for progress in its core grocery business sales when ORG reports interim results on DATE.
Analysts forecasts for DATE pre-tax profits range from MONEY (MONEY) to MONEY, compared with CARDINAL previously.","NORP Chancellor of the Exchequer PERSON could cut tax credits on dividends in a ""robbing Peter to pay Paul"" measure which would help fund widely expected cuts in income tax in his budget speech DATE.
PERSON, group chief economist at ORG, thinks ORG may well see pension funds as CARDINAL target to provide him with some resources to distribute elsewhere.
From a tax credit reduction to PERCENT from PERCENT, ""the sufferers would be tax-exempt pension funds and higher rate tax payers with dividend income,"" GPE said on DATE.
Accountancy firm ORGamp; GPE, in its survey of budget options, says such a measure could save the ORG Revenue around MONEY (MONEY) DATE, although this would take some time to come through.
But ORG point out that such a move would act against the ORG's long-term objective of encouraging increased private savings provision and might turn out to be a burden on the corporate sector if institutional shareholders press companies to compensate by raising gross dividend payouts.
GPE raises another negative aspect.
""It would not necessarily be popular either,"" he says. ""It would probably cause the equity market to fall and might well be described in the press as ""Mr Clarke raids your pension - to give you an income tax cut'.""
ORG has already removed the tax credit on targeted share buy-backs and special dividends associated with share consolidations and take-overs.
Most economists expect no change in the basic structure of ORG itself, although ORG say the Chancellor might introduce some minor measures to aid small business and entrepreneurs.
But they are not so confident that the profit-related pay scheme, ORDINAL introduced in DATE, will survive the budget unscathed.
Under the scheme, employees get relief at their marginal rate of tax on PERCENT of their salary up to a maximum of CARDINAL stg and the benfits are linked to the company reaching profit goals agreed with the Revenue.
Estimates vary on how many employees are in the scheme from CARDINAL to CARDINAL, but accountancy firm ORGamp; PERSON says it is costing the Government some 1.5 billion pounds DATE in lost revenue and rising.
There also seems to be a measure of agreement on the idea that the scheme does not really link employees' pay to profitability since some companies guarantee no reduction in final salary if profits disappoint.
Outright abolition of ORG is thought unlikely given it is firmly entrenched in many pay structures and would again put pressure on companies to make up the difference and so economists see ORG possibly limiting the relief to the lower PERCENT rate of income tax.
BZW economists say this could raise MONEY. (MONEY)",0
"Semiconductor equipment stocks surged DATE on fresh signs the downturn in the chip industry has hit bottom, and the buying spilled over into some computer chip makers as well.
Investors jumped in after the leading maker of equipment used to produce computer chips, ORG, gave support to the growing consensus in the industry that the market for chip-making machinery would turn up in DATE.
ORG on DATE reported lower earnings for DATE but also said that even at the low point in the current technology spending cycle, it expected profit margins to stay higher than in prior downturns.
That was enough for investors to rush in, even while the industry's profits have yet to start a meaningful rebound. Semiconductor equipment stocks are often seen by investors as bellwethers for the next wave of technology growth.
""Now we have an indication out of ORG that the bottom is not as deep as some may have worried or suggested,"" said ORG analyst PERSON, who was CARDINAL of several analysts to raise ORG to ""buy"" from ""hold"" DATE.
ORG stock surged $MONEY to $MONEY in TIME trading on ORG, where it was the most active issue with CARDINAL shares traded.
In addition to ORG, ORG rallied MONEYMONEY, ORG rose $MONEY to $MONEY, and ORG increased MONEYMONEY.
The CARDINAL equipment stocks were among ORG's CARDINAL most active, while ORG, the world's biggest chip maker, rose $MONEY to $MONEY.
Other chip equipment makers also rose, including ORG, up $MONEY to $MONEY, and ORG, up MONEYMONEY.
After the market closed DATE, ORG said profits fell PERCENT to MONEY, or MONEY a share, for DATE, which was about in line with expectations.
But Wall Street analysts widely believe a new chapter has begun to unfold for the chip industry, which could lead to a rebound in orders for production equipment.
The recovery is expected since sales of personal computers appear to be picking up, which means renewed demand for additional chip-making equipment cannot far behind. PCs soak up CARDINAL of all semiconductors produced worldwide.
The chip industry over DATE has become notorious for its boom-to-bust cycles. Many now argue that DATE slow-down in semiconductor equipment spending has stabilised, leaving the industry poised to begin another of its cyclical upturns DATE.
This could come even after chip makers aggressively built plants and added capacity DATE, which flooded the market and led to a glut of chip inventory DATE.
Alex. Brown analyst PERSON said that during a conference call DATE, ORG executives said they saw equipment order rates stabilising.
But while ORG upgraded ORG and other stocks in the group, he cautioned the companies might be hurt DATE by a continued glut of computer memory chips, the biggest category of semiconductors.","Investors, who DATE helped drive ORG to its ORDINAL record close DATE, are unlikely to cool on NORP stocks any time soon, attracted by GPE's improving economic fundamentals.
""GPE really has begun to address its deficit problems with rather Calvinistic virtue and I think this is going to help that market and also tend to focus other investors on the opportunities in GPE,"" said PERSON, chief investment strategist at ORGamp; ORG in GPE.  
GPE's key CARDINAL Composite Index set its ORDINAL record high close DATE, the most in DATE since GPE's largest stock exchange began tracking such figures. The previous record was CARDINAL record closes for all of DATE.
The CARDINAL index has risen PERCENT DATE.
After the stock market crash of DATE, GPE posted no record closes from DATE through DATE.
But analysts said GPE's latest bull run will likely extend to DATE.
""I don't think the run in the NORP market is over by any means,"" said PERSON.  
""There's such a rosy view out there on GPE,"" said ORG strategist PERSON.
""Inflation is low. The federal deficits are coming down, especially in relation to GDP (gross domestic product). Current account surpluses are happening. The political situation (GPE separatism) has faded away and that has buoyed the NORP dollar,"" PERSON said.
GPE's inflation rate is now PERCENT, while the federal government has forecast its yearly borrowing requirements will drop to CARDINAL in CARDINAL from MONEY in CARDINAL.  
Booming exports have pushed GPE's current account to a surplus for the ORDINAL time since DATE.
Political uncertainty has also waned after DATE narrow loss by separatists in a referendum on independence for the LANGUAGE-speaking province of GPE.
On DATE, GPE's dollar strengthened to the MONEY for the ORDINAL time in DATE.  
""I think GPE's in a different situation"" than in DATE, PERSON said. ""We're on the early stages of what I would call a boomlet worldwide, which is going to result in I think strengthening industrial and commodity prices, which I think are going to be very bullish for GPE.""
""I'm still tremendously bullish on stocks,"" said PERSON, who does not rule out the index hitting CARDINAL points by DATE.
The CARDINAL index closed at CARDINAL on DATE, down CARDINAL points.",0
"ORG said it expects to report a strong DATE and to move into the black DATE.
In a ORG interview, chief executive PERSON said revenues DATE will be ""substantially up"" from DATE. ""We're going to have DATE,"" he said.
As of DATE, the company -- which records revenues when it ships product -- had MONEY worth of work in process.
The GPE-based concern expects to turn a profit DATE, said chief financial officer PERSON.  
Formed in DATE at the beginning of the biotechnology boom, PRODUCT makes and markets CARDINAL types of machines for growing cell cultures used by drug and biotech companies.
Cellex's original business is in perfusion systems in which cells grow for DATE on hollow-fiber membranes contained in cases through which liquid nutrients, such as sugars and vitamins, flow to feed the cells and flush out their waste products. The company has PERCENT of the MONEY world market for perfusion culture systems.
In DATE Cellex acquired ORG, a NORP maker of larger, old-style cell culture tanks.  
Unlike perfusion systems, tanks grow batches of cells in a nutrient bath that produces for DATE before the cells begin to degrade in their own wastes and have to be replaced.
Biolafitte has PERCENT of the MONEY world culture tank market. PERCENT of NORP revenues come from sales of the technologically better-established tank systems, with the rest from perfusion systems, PERSON said, adding that perfusion system sales are growing faster.
For DATE, tanks provided CARDINAL of revenues totalling MONEY, up from MONEY in DATE period, he said.  
Cellex posted a loss of $MONEY per share in the DATE period, compared to a DATE $MONEY per share loss.
To boost weak tank sales in GPE, PRODUCT plans to open a GPE tank factory, PERSON said.
""We'll also be introducing over DATE a number of bench-top research systems for fermenters,"" he said.
The company gets MONEY in DATE revenues from sales of disposable hollow-fiber packets for its perfusion systems. That figure is growing PERCENT DATE, although most revenues still come from sales of long-lasting tank systems and spare parts.
Shares in PRODUCT traded off CARDINAL DATE to CARDINAL. Once as high as more than $MONEY per share, Cellex was hit hard by the biotech sell-off of DATE, PERSON said.
He said he sees signs of renewed investor interest in biotechnology. ""As we grow the revenue base and pay down our debt and lessen our dependence on major custom systems, I think our whole operating performance is going to be much improved and much more predictable,"" PERSON said.
--Chicago Newsdesk 312-408-8787","GPE is among the world's most efficient economies but its continued success as a global financial centre and entrepot is far from certain, ORG-based economic adviser professor PERSON said on DATE.
Uncertainty associated with the NORP colony's return to NORP rule DATE could compromise GPE leading position as the world's most competitive economy behind GPE, said ORG, whose ORG produced the Global Competitiveness Report DATE.
""I'm not predicting doom and gloom,"" Sachs, an adviser on economic reform to governments around the world, told reporters at ORG in GPE.
""I'm just saying that if you want to maintain a high-precision, finely-honed, world-class financial and trading centre such as this there isn't that much room for playing around.""
GPE will continue to flourish past the transition only if the rule of law is strictly observed, media freedoms are upheld and the economy remains completely open, he said.
But only time will tell whether the commercial underpinnings of GPE successful, highly-complex and capitalist economy will be maintained, he said.
""After NORP sovereignty comes in DATE we're going to see whether the judicial system remains independent, whether the media remain free, whether there's ample opportunity for the full flow of financial and economic and political information that is vital for an entrepot of this kind,"" he said.
Sachs also adopted a cautious view of GPE's economic promise, warning that its economic institutions need drastic overhaul in order to maintain high rates of economic growth beyond the short-term.
""These institutions are not good enough to carry GPE toward long-term growth. GPE's dynamism now is undoubted and it's not going to come klunking to a halt, but it's based on the fact the starting point is so low,"" Sachs said.
Cheap labour, low taxation and access to foreign exchange along GPE's coastal regions have fuelled the world's most impressive exports boom, ORG said. But in order for that momentum to be maintained, GPE must clarify property rights, develop financial markets and establish legal certainty.
""The NORP government is going to have to run very fast and keep very clear sights on its goals in order ... for institutional change to keep up so that the goal of high growth can be sustained in the future,"" Sachs said.
A major obstacle to long-term success is the state enterprise sector, which employs PERCENT of the population. While it is not sufficiently large to submerge the entire economy, the state enterprise sector is a definite drag on the economy and poses a risk to the entire financial system, ORG said.
Sachs lauded GPE's efforts so far to privatise businesses at the local and regional levels.
""Parts of GPE are reforming from the bottom up with local and regional governments making experiments in privatisation that can be models for the rest of GPE,"" he said.",0
"The world's major banks are busy jockeying for position in an emerging super-league that is set to dominate the massive and higly lucrative private banking market in DATE, a survey showed on DATE.
Private banking concentrates on ""high net-worth individuals"" -- people whose liquid assets, their easily available cash, is a number with a lot of noughts, usually MONEY.
The survey, by accountancy and consulting firm ORG, estimates the global market for these super-rich people at somewhere MONEY.
Of this, a sizeable amount, probably MONEY is estimated to be in LOC, both in domestic markets and offshore.
PERSON, head of ORG private banking practice, said the survey sees the emergence of a private banking super-league comprising, perhaps, CARDINAL to CARDINAL banks.
These will have MONEY under management with many in the MONEY-plus bracket.
They will be banks like ORG and ORG in the GPE; ORG, ORG, ORG, ORG and ORG in LOC; and the ORG group 00005.HK with its huge NORP franchise plus ORG in GPE.
In comparison, CARDINAL of GPE's biggest private banking operations, ORG owned by ORG, has MONEY (MONEY) under management, putting it in the medium-sized bracket.
ORG says CARDINAL of the trends to emerge from its latest survey, which received responses from CARDINAL leading names in the industry, is that they all see the environment getting more and more competitive,
""Competitive pressures are building. Clients used to walk through the door, now you have to go out and get them,"" he said.
The super-rich are becoming more and more demanding and less and less loyal -- they will often use CARDINAL bank or compare what is on offer from a number before making a choice.
They are also demanding ever increasing levels of sophistication in the products they are sold. Complicated cross-border trust structures, for example, which can earn a huge margin for the private bank concerned.
Private banks with healthy investment bank cousins are also looking to make the most of this resource.
Client managers will often work with their investment banking colleagues to think up a product tailored to a client's needs or to beat what they are being offered elsewhere.
Currently, LOC takes the biggest slice of the global private banking cake but the fastest growth is in GPE and LOC and this latter region is set to take the lead soon, ORG said.
The survey shows that CARDINAL the private banks expect offshore business to grow by CARDINAL DATE over DATE.
To take advantage of this, given greater client demands and competition, banks will have to manage their cost base as well as their revenue income.
The survey also sees a continuation of the recent restructuring, merging and alliance-forming, which has been going on. New players are also expected as plain retail and investment banking areas become more and more congested. ($MONEY Pound)","ORG, said DATE its DATE revenues hit MONEY in DATE, demonstrating the surging popularity of its Internet software among companies setting up internal networks known as intranets.
PRODUCT, which pioneered the popular LAW browser software for cruising the Internet's World Wide Web, said its DATE net income was MONEY, or MONEY a share. DATE, the fledgling company earned $MONEY on sales of MONEY.
""DATE was another landmark quarter for PRODUCT, as PRODUCT server and client software solutions made significant inroads into the global enterprise market,"" said NORP President and Chief Executive PERSON.
Wall Street, which had been expecting PRODUCT to report revenues of MONEY, had not expected the company to hit the MONEY DATE revenue milestone until DATE, analysts said.
""I think the MONEY mark really shows significdant growth,"" said ORG and ORG analyst PERSON, noting revenues grew PERCENT sequentially. ""This is major league revenue for DATE.""
The DATE revenue was well above the MONEY it posted for the whole of DATE. For DATE, PRODUCT earned MONEY, or MONEY a share, on sales of MONEY. DATE, the company lost MONEY, or MONEY a share, on sales of MONEY.
In TIME dealing, shares of PRODUCT were firm, changing hands MONEYMONEY, up from its closing level of $MONEY in ORG market trading.
ORG said in an interview after the results that the indirect sales through ORDINAL parties such as computer makers and systems integrators had accounted for PERCENT of overall sales, and PERCENT in LOC and LOC.
""We think it's a very efficient channel for us,"" he said. ""More and more we're seeing our job as demand creation through our direct sales force. We just think it's a more efficient way for these kind of products (to be sold).""
""I'm very proud we have gotten to that as quickly, because we're very dependent on these people,"" he said.
ORG outlined a broad range of companies which had chosen PRODUCT software to build applications for their computer networks, or ""intranet"" applications.
Analysts said the rapid growth of the market will help PRODUCT continue to grow in competition with rivals like ORG and ORG ORG
ORG said he remained concerned that competitors will be confused by the competitive frenzy, although he said key PRODUCT products remain lower in price those of ORG and ORG, for example.",0
"LAW"" maintained GPE as CARDINAL of the world's financial hubs, but DATE on the role of specialised financial ""boutiques"" at the heart of the City is under mounting pressure from huge integrated investment banks.
""The wonderful time that there has been for the small boutique since PERSON is over. DATE of the single violinist are past, it's time for the full orchestra,"" CARDINAL banking source told ORG.
The so-called Big Bang of DATE brought about radical reforms in the way ORG and the NORP government bond market operated, principally by allowing mergers between merchant banks, brokers and stock jobbers.
It saw the demise of traditional names such as PERSON and ORG and PERSON which became parts of Barclays' investment bank BZW and of ORG respectively.
And ever since the initial wave of changes investment banking giants with global aspirations have been hoovering up small players which have carved out a niche for themselves.
GPE EXPERIENCE SETS THE PACE
In the world of corporate finance this pattern of smaller firms being swallowed up by the large players is set to mirror what has taken place in the GPE, corporate financiers say.
""I believe the world is moving away from small nimble-footed boutiques, which had a wonderful time under the Conservative government. The new world is going to be based around very big cross-border corporate finance. You need a very big broking arm behind you,"" CARDINAL corporate financier said.
This need for broking capacity and a dwindling number of independent brokers, combined with increasing regulatory demands for capital, has shrunk the opportunities for boutiques. Even in the growing derivatives market, the amounts of capital needed to play the global markets mean small outfits are hard to sustain.
ORG THREATENED BY NORP
Apart from the possibility of an opposition Labour government and perhaps greater restrictions on mergers and acquisitions activity, with the need for companies to prove that a takeover is in the public interest, the other threat to corporate finance boutiques comes from NORP integration.
Increased bureaucracy and more rigorous ORG demands on the companies involved in takeovers will mean even greater research capabilities and legal back-up are required by the financiers advising companies on such deals, bankers say.
""ORG won't be much good if you have got to take a huge team of analysts and brokers out to GPE every time you are planning a deal,"" said CARDINAL.
With GPE investment banking mammoths such as ORG and ORG building increasing roles in corporate finance as well as their traditional broking and trading strengths, this is also putting pressure on the small corporate finance players.
PERSON TO NATIONAL WESTMINSTER
A recent casualty is FAC, which DATE was sold to ORG, the investment banking arm of GPE's ORG, for QUANTITY (MONEY).
The prominent corporate finance boutique was set up by PERSON in DATE and has been involved in some of the biggest mergers and acquisitions in GPE in DATE.
""The new world is going to be dominated by the very big boys,"" another banker said.
Some commentators say the future of small boutiques is not as bleak as it may appear. They see the demise of some as merely part of a cycle which will spawn new dynamic teams based around talented individuals who may decide to leave a large established firm, take clients and expertise with them, and go it alone.
""It's an on-going process. It's always postulated every time there's a rash of takeovers that boutiques are going out of fashion. But it's the same process as Big Bang. Small firms have developed since. Some have disappeared and been replaced by others,"" a banking analyst at CARDINAL GPE investment bank said.
In cases such as PERSON, the cycle has turned full circle, with the key individuals making significant financial gains for themselves by selling a highly successful business at its peak and coming back into the folds of a larger player.
SMALL FIRMS CAN SELL PERSONALISED SERVICE
But while small firms will never compete for the truly global roles, there is still a place for the personalised localised service offered by boutiques. ""There's always a demand for that type of service,"" he added.
Others agree that in a world where investment banks are attempting to become so-called ""CARDINAL-stop shops"", the pressures to sell clients an entire package of products could in fact enhance the position of boutiques, whose advice is perhaps more truly independent as they don't have other axes to grind.
DRESDNER KLEINWORT BUYS LUTHY BAILLIE
Another boutique to have fallen prey to a multi-national banking player with plenty of capital behind it, sophisticated trading and broking operations and global ambitions is the bond specialist PERSONamp; Co.
It was snapped up DATE by ORG, the investment banking division of GPE's ORDINAL largest commercial bank ORG.
PERSON, CARDINAL of the founders of the CARDINAL-person bond boutique which was set up in DATE, said the firm's reliance on a market undergoing significant changes because of the interest rate environment and the constraints of size had forced it to seek embrace of a larger partner.
""We learned a hell of a lot. But our business skills are better used in a big firm. The opportunities are better in a big firm,"" PERSON told ORG recently.
Such changes will not necessarily end with the small firms such as ORG's. Banking analysts and corporate financiers alike have for some time been predicting DATE are numbered for what one called the ""super-boutiques"".
This dwindling list of traditional NORP merchant banks includes ORG, PERSON, PERSON, ORG and PERSON. Takeovers here are complicated in some cases by family holdings, but strategic alliances have been suggested as an acceptable alternative in order to compete globally.
""I think even the super-boutiques are going to be struggling over DATE,"" the ORDINAL banking source said. ($MONEY Pound)","With the PERSON administration busily reworking its DATE proposal overhauling the GPE financial services sector, CARDINAL faction in ORG is recommending a more far reaching plan this time around, people familiar with the matter said.
Under Secretary of the ORG PERSON, who oversees an administration working group on bank reform, is pressing for a plan allowing commercial companies to own financial companies, they said.  
The PRODUCT plan is said to be in front of ORG Secretary PERSON, who carries great weight with the President on financial policy issues.
Most in the administration and on LOC agree that the DATE laws separating banking from other financial activities like insurance and securities dealing should be scrapped.
But there is still widespread disagreement about letting outside companies into financial businesses. ""There's a major war brewing,"" CARDINAL lobbyist familiar with the plan said. ""People are choosing up sides and getting to ORG.""  
A spokesman for the ORG did not have an immediate comment.
DATE, the PERSON plan took a middle path on the issue between ORG chairman PERSON's bill and a proposal put forward by ORG chairman Sen. PERSON.
Leach remains strongly opposed to allowing non-financial firms into the financial services sector. The GPE NORP introduced a bill DATE that would allow banks, insurance companies and securities firms to affiliate only amongst themselves.  
A ORDINAL ORG bill, backed by Rep. PERSON, would allow a financial services company to derive PERCENT of its revenue from non-financial activities.
Sen. PERSON, by contrast, favors lifting all limits, allowing a company like ORG or ORG to own and operate a bank. ORG is expected to reintroduce his bank reform measure in DATE, a spokesman said.
The notion of allowing commercial companies into banking alarms consumer advocates and small banks.
Veteran consumer advocate PERSON wrote a letter to Secretary PERSON DATE opposing the PRODUCT recommendations.
Common ownership ""would create powerful conglomerates that would dominate the nation's economy,"" PERSON warned in the letter obtained by ORG.
""The distortion of the allocation of bank credit ultimately would have a substantial adverse effect on competition and the overall productivity of the economy,"" PERSON wrote.
Small bankers also oppose the plan, which could lead to further consolidation and concentration in the banking industry, lobbyists said.
((--202-898-8312))",0
"ORG would likely remain a potential target in the GPE bank merger wave after its planned combination with ORG
""This certainly doesn't mean that PERSON is no longer a buyout candidate,"" said PERSON, analyst at ORGamp; Co. ""It's clear that the bank merger wave has rolled into GPE and it's turning into a tsunami.""  
As the largest bank holding company in GPE behind GPE's ORG, PERSON is seen by analysts as attractive to banks looking to establish a presence in the lower LOC.
In DATE, ORG agreed to buy GPE's ORG for MONEY.
That deal valued ORG's at a pricey CARDINAL times book value, analysts said. PERSON's deal values PERSON at CARDINAL times book value, analysts said. The pooling of interests deal is worth $MONEY a share to PERSON shareholders, based on DATE's closing price, the banks said.  
The GPE-based bank holding companies would have a combined total of MONEY in assets.
""It's a pretty pricey transaction,"" said PERSON, banking analyst at ORG ""PERSON is a very profitable and a very attractive franchise.""
PERSON reported return on average assets of PERCENT in DATE and return on average realized common equity of PERCENT, putting it in the upper echelon of LOC banks, analysts said.  
""It's an in-market deal, which allows for a tremendous ammount of efficiencies, which is good for PERSON,"" said PERSON, analyst at ORG. ""They're paying full-boat prices, but they're getting an excellent company.""
But PERSON noted that PERSON already operates efficiently, and questioned how much more in efficiency PERSON could wring out of PERSON.
""The question I would ask is how is PERSON going to earn back this premium they're paying,"" PERSON said.  
That question appeared to be in the market DATE, with PERSON shares down CARDINAL at CARDINAL and PERSON up CARDINAL to CARDINAL.
PERSON chief executive PERSON, who is slated to become chief executive of ORG bank when the deal is completed, indicated there were not likely to be wholesale job cuts when the CARDINAL banks combine.
""WORK_OF_ART and PERSON as we sit here DATE, there are CARDINAL job openings,"" PERSON said in an interview. ""There will be some duplications, there will be some consolidation of job functions.""
But ""quality"" individuals whose jobs are eliminated because of duplication will be able to apply for other jobs, he said, noting ""I would be very surprised if there was a large number of individuals that won't be needed.""
Dubinsky also would not rule out the possibility of the combined PERSON/PERSON being acquired.
""Banking is changing so rapidly,"" he said. ""One couldn't make any comment with certainty about the future.""
--Reuters GPE newsdesk, CARDINAL-408-8787","GPE unveiled plans on DATE to lift restrictions on foreign banks in a bid to spur competition in a sector dominated by CARDINAL big domestic banks.
Draft legislation allowing foreign banks to open branches in GPE will be ready before DATE. But a possible federal election may delay the passage of the bill in GPE's parliament until DATE, said PERSON, secretary of state for financial institutions.
""Branching will encourage new banks to enter the NORP marketplace and allow existing foreign banks greater opportunity to compete,"" PERSON said in a statement.
He told reporters that the government needed time to develop branching rules, including a tax regime.
Foreign bankers have complained that GPE lagged behind its ORG trading partners in opening up its banking sector to foreign competition.
Current rules require foreign banks to operate separately capitalized subsidiaries in GPE. The higher cost of operating a subsidiary, rather than a branch, has driven several foreign banks out of the country.
DATE a federal ""white paper"" on financial reforms introduced only minor changes to foreign bank rules, but parliament subsequently issued reports urging freer access to GPE's markets for foreign banks.
The number of foreign banks operating in GPE has dropped to CARDINAL from a peak of CARDINAL in DATE. The legislation has not been written yet, but a freer market would make GPE more attractive, said PERSON, chairman of ORG, a unit of ORG
""It will slow the erosion and may reverse that trend. I think a number of banks who are not currently operating in GPE will take another hard look,"" PERSON said.
GPE's big CARDINAL domestic banks already dominate regular banking, trusts and brokerages. But they are being challenged by the Internet and the rise of new ""virtual banks.""
NORP financial services giant ORG is set to launch a telephone banking operation in GPE DATE and has earmarked an initial investment of MONEY for direct marketing of a range of savings and loans products.
ORG and ORG are also planning banking services aimed at NORP consumers and small businesses.
NORP bankers have said they would welcome more foreign competition as long as it is on a level playing field.
""We have absolutely no concerns about being able to compete successfully. There is a need to ensure that regulations -- tax, capital adequacy, corporate governance policies and so on -- are reasonably balanced,"" ORG chairman PERSON said recently.
NORP bankers complained that their foreign rivals did not pay the same capital taxes in GPE as domestic banks. They also argued that virtual banks would not create new jobs in GPE, although critics noted that NORP banks had shed staff recently in a move to electronic banking services.
ORG, the country's biggest bank with MONEY in assets, supports granting more access to foreign banks if rules barring NORP banks from getting bigger are lifted.
ORG and its counterparts have seen their international rankings slip sharply in DATE. They argue domestic bank mergers may be necessary if GPE is to remain competitive internationally.
Federal laws discourage bank mergers by limiting investors to a minimum PERCENT stake in a NORP bank. A government task force plans to study these and other competition issues DATE.",0
"GPE and GPE have agreed to work on a new anti-espionage law in GPE, to take effect after the colony is handed back to GPE DATE, a NORP official said on DATE after DATE of negotiations.
NORP Ambassador PERSON, GPE's team leader in the NORP ORG (ORG) talks, said the countries agreed that GPE's official secrets act would be localised.
""The official secrets act is a NORP law...which was extended to GPE. GPE has not got its own official secrets act so we are talking about the localisation of the act in GPE,"" PERSON told a news conference.
But GPE also warned GPE not to rock the boat by making any major legal changes on its own before the territory of CARDINAL people reverts to GPE DATE.
Speaking amid heightened anxiety over the handover of GPE to NORP rule, PERSON also tried to reassure local people they would continue to have complete freedom of movement after DATE.
""For GPE residents, they can rest assured that the freedom of entry and exit into and out of GPE will continue to be guaranteed,"" PERSON said.
But PERSON said NORP negotiators had protested to GPE about a draft anti-subversion bill unveiled by the colonial administration DATE, a law that sets legal markers against GPE-style jailings of dissidents.
GPE reacted angrily to the move when it was announced. GPE has accused GPE of blocking efforts to draft laws on subversion, sedition and treason for the handover.
PERSON said GPE had violated the DATE EVENT, the NORP handover treaty, and GPE future constitution, LAW.
""During the plenary session, the NORP side pointed out to the NORP side that the NORP action is in fact unilateral change in the law previously enforced in GPE without consultation and consensus with GPE.
""This is a breach of the Joint Declaration. This act is attempting to legislate on behalf of the future GPE. In essense this is an act which is in contravention of LAW.
""Such an act will never be acceptable to the NORP side and the NORP side has to bear full responsibility for all the consequences,"" PERSON said.
He said GPE hoped there would be no more ""disturbances"" because it ran against the aim of having a smooth transition.
""We certainly hope it won't affect our relations. But I can't deny that it will definitely affect future discussions.""","A leading NORP dissident has fled to GPE DATE after a colleague in GPE was sent to a labour camp and is reported to be seeking asylum in GPE, government-funded radio said on DATE.
ORG GPE quoted an unidentified source close to veteran democracy activist PERSON as saying he had seen ORG in GPE and that he appeared to be in good health.
PERSON has been missing from his home in the southern NORP province of GPE since fellow activist PERSON was arrested in GPE DATE and ordered to serve DATE in a labour camp.
""The source said Mr PERSON started planning his departure as soon as PERSON was arrested,"" ORG said.
""He confirmed that he had seen the dissident in GPE and that his health was good,"" it said.
ORG had approached members of the pressure group, ORG in Support of ORG in GPE, for help, the radio said.
They in turn had asked the GPE government to help the democracy activist to seek political asylum in GPE, it said. A government spokesman declined to comment.
However, CARDINAL GPE source with close ties to ORG said PERSON could leave GPE for GPE as early as DATE night.
PERSON would be the ORDINAL NORP dissident to escape to GPE via GPE DATE.
Dissident PERSON fled DATE following DATE of police harassment at his home in northeastern GPE since his release after serving a DATE prison term as a leader of the DATE student-led demonstrations for more democracy.
PERSON had been active in DATE, sending several daring open letters to the government.
On DATE, ORG joined activist PERSON in issuing a statement urging GPE's communist authorities to honour a promise in DATE to give people freedom of the press and speech and to form political parties and stage demonstrations.
In a bold move, the CARDINAL demanded ORG chief PERSON be indicted, impeached and step down for violating the constitution for saying ORG was under the ""absolute leadership"" of the party instead of the state.
PERSON was paroled in DATE after serving DATE of a DATE term for sedition and remains deprived of his political rights and thus is not permitted to issue such public statements.
He has long been one of GPE's most outspoken proponents of democracy.
PERSON began his activities in DATE when he has CARDINAL of CARDINAL authors of a renowned pro-democracy article that was pasted up as a wall-poster in GPE, capital of GPE.
PERSON and his CARDINAL co-authors served DATE in jail for his audacity in challenging the authoritarian rule of Chairman PERSON but was released in DATE.
DATE he took part in the Democracy Wall movement in GPE, but was not arrested until DATE.
His reported escape comes amid a renewed crackdown on GPE's tiny, struggling democracy movement.
Detained dissident and former student leader PERSON faces the capital charge of plotting to subvert the government in a trial that could take place DATE based on evidence such as writings critical of the state and accepting funds from abroad, a human rights group said.",1
"The aggressive cost cutting programmes planned by GPE's CARDINAL major airlines ORG and ORG can be achieved without affecting services, analysts said.
Both ORG and PERSON face pressure on profits because of the stronger GPE dollar, higher fuel prices, a soft domestic market and competition in the international market.  
""NORP airlines are seen as high cost operators compared with the rest of world,"" said PERSON, managing director of ORG consultancy service.
""So I suppose there is scope there to reduce the cost base,"" PERSON told ORG.
ORG, which is PERCENT owned by ORG, announced at its DATE meeting DATE that it will increase its cost cutting programme by MONEY for DATE on the previous target of MONEY.  
PERSON, which is a joint venture between ORG and ORG, said DATE that it plans to cut MONEY from its DATE cost base of MONEY.
""They will have to reduce their costs along with every other airline in the world and that will continue to happen for some time,"" PERSON said.
Investors are focusing on ORG, which is cutting costs more aggressively so that it can meet profit estimates.
ORG aims to cut costs across the board but has not revealed specific areas.  
Analysts said ORG will have plenty of scope to cut costs, using its alliance with ORG to share facilities.
""They have got a lot of inefficiences, they can outsource some of their engineering and maintenance,"" said PERSON, aviation analyst at ORG.
Analysts said the NORP flag carrier will also cut costs in areas where it is not so noticeable to customers, such as in the accounts, and marketing and sales departments.  
""It's the tail that ORG will hack into, ORG will not hack into the sharp end,"" said PERSON, analyst at ORG, referring to accounts and sales areas as the tail, with the sharp end being flight services.
He said ORG is very competitive with other world airlines in terms of pilot performance and aircraft ultilisation, so there is little change seen in those areas.
Analysts said ORG has to focus on cutting costs in order to grow profits and release funds for the expansion of services and purchase of new aircraft.  
""They haven't got the capacity to go out and buy planes and fill them up and fly CARDINAL more routes so the focus is on improving their balance sheet and generating more profits to do that,"" CARDINAL GPE-based aviation analyst said.
However, analysts said both ORG and PERSON run a risk in cutting costs as it may affect staff morale, which in turn affects customer service and in turn customer loyality.
-- ORG newsroom CARDINAL-2 9373-1800","ORG said on DATE it wanted to grab a slice of the lucrative NORP high-roller market but ORDINAL had to win a tax break from the state government.
The company holds a DATE licence to operate the only legal casino in GPE's largest city but has battled with ORG (ORG) government for DATE to receive the same tax concession that its interstate rivals have.
""I am hopeful, but I can't say anything concrete at this stage,"" chief executive officer PERSON told ORG in an interview. The ORG casino is PERCENT owned by GPE casino operator ORG
(Corrects to add PRODUCT's ORDINAL name and title)
Without the PERCENT tax concession on winnings made by the high-rollers, the ORG casino could only watch as rich NORP customers headed to casinos in GPE, GPE and on LOC, Gamble said.
""As far as the high-rollers are concerned it makes us totally uncompetitive."" Gamble said the high-rollers also required other incentives to be lured to GPE.
""The professional gamblers would have MONEY (US$MONEY) to spend on DATE, some would go MONEY, some go up to MONEY, but that is rare.""
If the ORG casino could have its big gamblers tax reduced from PERCENT at the moment, it would then open a network of marketing offices around LOC, he said, adding to its representation in GPE and GPE.
So far its revenue from high rollers is negligible PERCENT of the CARDINAL people that visit the casino DATE are considered locals.
The ORG casino currently operates out of temporary premises but plans to open a MONEY permanent casino DATE, with CARDINAL gaming machines and CARDINAL gaming tables, a hotel and CARDINAL theatres.
The casino has posted a string of disappointing results since it opened its doors in DATE, with Gamble largely attributing this to over-optimistic forecasts in the prospectus.
""I think the prospectus forecast was too bullish,"" Gamble said ""I don't think that was a failure of mangement to achieve I think it was an over estimate of reality by any comparsion with other parts of this industry.""
The casino floated on the local bourse in DATE and forecast an operating profit after tax of MONEY for DATE. It reported an actual net loss of MONEY in DATE.
The recent sell down by international financier and founding shareholder PERSON was not a vote of no-confidence in the group, ORG said. PERSON now has PERCENT down from PERCENT at the time of the float.
Since PERSON sold down his stake in DATE, ORG casino shares have fallen PERCENT. PERSON shares closed steady at A$MONEY on DATE.
(A$MONEY = MONEY)",1
"GPE's ORGamp; ORG, whose stock price has been lashed by the GPE missile attacks on GPE, said investors had over-reacted and assured it was able to overcome present difficulties.
""I would call the reaction in (the stock market in) GPE merely psychological...there is minimal real impact, and if crude prices are high now we just would not buy,"" said a senior manager in GPE, eastern GPE province, by telephone.
The NORP oil refiner's share price in GPE crashed PERCENT to HK$2.05 intraday on DATE before closing at PERSON, down MONEY on investor fears that the refinery would be hit badly by the sharp hike in crude oil prices.
It regained only partway on DATE to close at HK$2.175.
After the ORDINAL GPE missile attack on DATE, oil prices hit their highest level since GPE invaded GPE in DATE, and investors feared PERSON - which runs predominantly on imported crudes and sells most of its output into GPE's domestic markets where product prices are strictly fixed - would be hit.  
But the QUANTITY per year refiner, which had stopped buying crude oil cargoes since the start of the NORP crisis on DATE, said its crude stock-pile would help tide over high prices, at least in the short term.
""It's very hard to say how prices will go, but for now, we have our DATE worth of crude stock-pile,"" he said.
The refiner, GPE's ORDINAL largest, imports PERCENT of its crude needs from overseas, and covers PERCENT from GPE's offshore production.
PERCENT is supplied from GPE's highly subsidised domestic onshore production, the manager said.
While PERCENT of GPE's output is sold into international markets, the volume would be increased should high crude oil prices persist, he said.
""There is no limit on how much we can export, so we can push it up to cover our higher costs,"" he said.
-- GPE NEWSROOM (CARDINAL) 2843-6441","NORP regional electricity company ORG on DATE promised to rush out results by DATE to prove that a MONEY hostile bid from GPE's ORG undervalued it. But ORG said it still felt its MONEY per share offer was full and fair, adding that there was ""nothing in ORG defence document which changes our view.""
In its first formal defence since ORG posted its bid on DATE, ORG said the DATE figures, previously scheduled for DATE, would include ""important financial information"" to show the value of the company. It reiterated its belief that the offer was too low and said that when ORG announced the bid at DATE, it had suggested a price of MONEY per share.
But ORG, which is PERCENT owned by GPE energy group ORG, denied this in a statement on DATE, saying: ""This ambitious range was entirely the proposal of ORG board.""
The GPE group has already snapped up PERCENT of its target, as ORG's shares were clouded by uncertainty over whether the government would approve the bid. Northern shares eased MONEY to MONEY by DATE ORG. Northern confirmed it planned to pay a MONEY special dividend in DATE if ORG offer lapsed and said that could mean the GPE firm stood to reap gross yields of PERCENT a year from its net investment. ""ORG is worth more to ORG,"" the company said in a statement. But ORG said the special dividend was ""fully reflected"" in the share price before the offer was launched. Northern chairman PERSON said the company believed that uncertainty as to whether ORG bid would be referred to the MMC (ORG) was dominating the market's reaction and keeping the share low. The NORP government has approved takeovers of CARDINAL of the original CARDINAL cash-rich regional electricity companies (NORP) in DATE, of which CARDINAL were bought by GPE companies. CARDINAL bids for PERSON have been blocked, when offers from generators ORG and ORG were deemed against the public interest by trade secretary PERSON. Northern itself is the only Rec to have survived a hostile bid, when it fended off ORG, now a unit of PERSON, with a QUANTITY (MONEY) benefit package DATE.
Since LOC came under threat, ORG agreed to a MONEY per share MONEY takeover by ORG of the GPE DATE. PERSON speculation has sparked price rises in other NORP, including PERSON.
A report in the DATE PERSON said PERSON was in talks with Entergy of the GPE, but both firms denied this on DATE.Shares in PERSON gained MONEY to MONEY while GPE slipped MONEY to MONEY. The market is worried that political pressures on the ruling Conservative government, which opinion polls put in ORDINAL place before the general election DATE away, might prompt it to block any more bids.
The electricity sector, privatised by the NORP in DATE, has proved unpopular due to high dividend payouts, hefty executive pay packets and head-turning takeover deals.
($MONEY Pound)",0
"ORG is setting goals for ORG -- the lead business to come out of a CARDINAL-way corporate break-up -- of PERCENT DATE operating income growth and PERCENT DATE sales growth on operating margins of PERCENT.
Those growth rates could be even higher DATE, ORG chief executive PERSON said in an interview with ORG on DATE, adding he sees stock price gains ahead for all CARDINAL firms being formed in the break-up -- ORG, CommScope Inc and ORG
""I'd look to CommScope and ORG to increase at above-average rates in DATE return range, maybe more. I see NextLevel Systems doubling over DATE to DATE,"" PERSON said.
Shares in ORG were up CARDINAL to 22-7/8 DATE after the GPE-based company announced a CARDINAL-way split designed primarily to unlock the share value of ORG.
For ORG, to be built on the world's largest coaxial cable business, PERSON said management's goals are PERCENT DATE sales growth and PERCENT operating income growth with operating margins of PERCENT.
For ORG, to be formed from ORG electronic component manufacturing operations, goals are PERCENT operating income growth on DATE sales growth of PERCENT and operating margins of PERCENT, PERSON told analysts at a meeting DATE.
Under the plan, ORG shareholders will get CARDINAL share in each of the new companies for each ORG share held, PERSON said.
""We may have to do a reverse split to comply with ORG rules,"" he said, adding closing of the transaction is seen by DATE.
No layoffs or hiring are planned. ""There are no staff actions contemplated as a result of the transaction,"" he said.
ORG has primary goals in the restructuring, PERSON said. CARDINAL is to unlock the value of the businesses that will comprise ORG, which analysts said has been held back by ORG other segments.
""Electronic conglomerates are not looked at very favorably DATE,"" said PERSON, industry analyst at ORGamp; GPE.
The other goal, PERSON said, has to do with ORG heritage as part of the cable television industry -- a legacy that has overshadowed its newer technologies.
""We're going to continue to service the heck out of the cable base, but we're also getting into provision of dial tone and data. We need to break out of that mold ORG has been in of being a cable supplier,"" PERSON said.
He said the company decided to proceed with the break-up because it showed in DATE that it could meet its business objectives, after failing to do so in DATE. ""We've made that transition from development to deployment,"" he said.
Deprived of cash flows thrown off by the ORG and ORG businesses, ORG will fund growth CARDINAL ways. ""We do have a lot of visibility to cash flow in ORG now that we have the products going out the door,"" he said. ""So we feel that, while ORG may be slightly cash negative in DATE, even our downside scenarios say we have more than adequate capabilities.""
In addition, he said, most of ORG debt will be loaded onto CommScope and ORG, which can afford to service it. ""That leaves CommScope and ORG in fine shape in terms of their capital structure because they do generate the cash to pay this debt off in the near-term,"" he said.","ORG said it is PERCENT finished with a radical restructuring that it expects will result in more charges against earnings in DATE and possibly in DATE, the company said.
Restructuring is about ""PERCENT complete as far as going down the road and getting the savings,"" said spokesman PERSON. ""That does not mean that we've taken PERCENT of our restructuring charges ... There will likely be more charges during DATE and perhaps even into DATE.""
Shares in GPE on DATE were off CARDINAL to CARDINAL.  
The PERSON, Ill.-based maker of boats and boat engines reported DATE profits DATE that, excluding restructuring charges, beat Wall Street estimates.
Analysts cautioned, however, that a turnaround at ORG remains a long-term project.
""They're going to be continuing this restructuring process in DATE and they're going to continue to have some more charges ... They describe the phase they're in now as the discovery process,"" said ORG analyst PERSON.
A key moment could come DATE when ORG executives are scheduled to meet with analysts and investors in GPE.  
Expected to be in attendance are the principals of ORG, an investment firm led by former PERSON associates PERSON and PERSON. Greenway bought an PERCENT stake in GPE DATE.
Although the firm is known for activism, Greenway so far has not pressured ORG to alter course, ORG said. Nor has there been further communication between ORG and company executives since initial discussions in DATE, he said.
Analysts speculated there could be fireworks DATE or at the DATE DATE meeting of shareholders, who are said to be growing impatient for a cohesive recovery plan.  
A restructuring was set in motion DATE by chief executive PERSON, who came aboard in DATE, when the stock was trading in DATE. PERSON continues to deliberate over how to fix LOC and key pieces remain to be put in place, analysts said.
The business is under evaluation from top to bottom, ORG said. Once restructuring is complete, Outboard ""certainly will be a marine products company,"" he said.  
""Longer term, we could get into products that would not be marine related. But our initial focus over DATE is to fix the business that we're in and then perhaps look at other areas that might be less cyclical or seasonal,"" said ORG, who is director of strategic planning.
PERSON has spoken of finding more stability for ORG, which suffers more from boating's boom-bust cycles than rivals, such as ORG, Ill.-based PERSON, which has diversified into bowling, fishing and camping gear.
Outboard sees opportunities to enter other markets -- such as motorcycles, snowmobiles and personal watercraft -- via its innovative FICHT fuel injection engine technology, ORG said.
Spending on capital and tooling in DATE, ended DATE, fell to MONEY from MONEY DATE, but spending on FICHT is holding steady as the company converts more of its engine line to it, he said.
Sales of CARDINAL-hp FICHT engines to dealers will begin in DATE and consumers will see the engines in DATE. A promotional roll-out is underway.
The company plans to convert its entire outboard engine line above 20-hp to FICHT engines, which will cost PERCENT more than their traditional equivalents, ORG said.
--Chicago Newsdesk 312-408-8787",1
"Delegates to GPE cocoa ORG focused on bean quality and marketing on DATE, the mid-point of their review of industry reforms.
""I would prefer to get down to talking about cocoa quality and continuity of supply,"" PERSON managing director PERSON said before DATE of the talks, which end on DATE.
PERSON ORG, a tripartite group of NORP, industry and donor officials, was set up in DATE to monitor cocoa sector reforms since DATE.
After opening the talks on DATE, ORG said changes must benefit farmers and other local players.
""At the same time the legitimate interests of others in the sector must be safeguarded,"" he added, referring to foreign traders, cocoa butter manufacturers, and chocolate and confectionary industries.
An electronic export contract auction set up in DATE to increase market transparency is widely seen as encouraging overbidding and concentrating export contracts in a few hands.
Local exporters, allocated PERCENT of contracts, and foreign traders, allocated PERCENT, have complained they cannot win export contracts at favourable prices.
""The question needs to be asked how some people can bid as much as they have (been bidding),"" WORK_OF_ART Chief Executive PERSON told ORG.
Industry concerns have been voiced about quality since the state marketing monopoly was ended.
""Quality has to do with liberalisation and the auction system,"" ORG Managing Director PERSON told ORG. ""The lack of quality checks is the major problem. That and the ORDINAL thing, the education of farmers.""
Industry watchers are wondering whether strong arrivals so far in CARDINAL means that output will rival the 1995/96 (Oct-Sept) record of QUANTITY.
""There is a very good crop coming in which suggests that DATE was not a fluke of nature,"" said ORG.
Commodities Minister PERSON declined to confirm whether buoyant cocoa arrivals would mean an adjustment of the PRODUCT state marketing board's CARDINAL production forecast of QUANTITY. Industry forecasts are increasingly putting total output at QUANTITY.
Industry delegates said mid-crop forecasts for DATE had not yet been finalised.
""It is still too early to talk about the mid-crop but it tends to be bigger and bigger,"" said ORG.
GPE wants to process PERCENT of its output by DATE to shore up world prices and add value the cocoa sector's output.
CARDINAL cocoa processors have expressed interest in building factories in GPE.
-- Abidjan newsroom +225 CARDINAL","Sporadic rain showers up to DATE have continued to water GPE cocoa belt but mid-crop campaign prospects are not yet clear, say weather and crop analysts.
A weather front expected to bring hot dry weather southwards over the whole of GPE had backtracked to the country's northern border with light rains taking hold in dried out areas.
""It has moved up to ORG (ORDINAL northern parallel) from PERSON (ORDINAL),"" said CARDINAL weather analyst. Rains usually fall in a sweep QUANTITY to the south of the front's position, he added.
Crop analysts said the front's retreat meant no dramatic changes in cocoa pod development but they welcomed continuing rains.
""We are now seeing the first fruits for the mid-crop ,"" said CARDINAL crop analyst. ""DATE weather will now determine the full potential. It is too early too draw conclusions,"" he addded.
Weather data show variable rains for DATE with PERCENT of normal levels falling around GPE in the north-east, put down to local effects, compared to PERCENT for GPE and GPE in the southwest.
An average of CARDINALmm fell at CARDINAL weather stations monitored in DATE with heavy showers concentrated around GPE and ORG. In DATE the average was 42mm, also boosted by heavy showers in GPE.
Overall DATE rains in CARDINAL successive DATE periods rose from QUANTITY to 423mm before dropping to QUANTITY in DATE.
Light rains fell in PERSON and Man, after none in DATE. More southern cocoa belt areas received PERCENT of DATE average rains around GPE, and PERCENT around PERSON. Rains around Abidjan and ORG were PERCENT above average.
""DATE rains moved into surplus in the south towards DATE but we are still in deficit in the north,"" said a weather analyst.
Crop analysts said the latest weather picture was highly variable and mid-crop development would depend on DATE's pattern. Rains DATE continued into DATE, they said.
""DATE, dry weather up to DATE slowed down mid-crop development but we could still be heading towards a reasonable crop,"" said the crop analyst.
""It is too early to draw conclusions as DATE weather picture was different,"" he said.  ""We had twice the normal rains for DATE but then a strong mid-crop.""
CARDINAL crop analyst said on DATE a long dry spell pushing into the DATE's short rainy season could slightly affect young cocoa fruits. The degree would depend on an extension rains seen since DATE which would cushion the drying effect of GPE conditions, he said then.
Up-country buyers welcomed rains after dry weather in DATE and DATE but said drying problems had increased harvested cocoa humidity levels to PERCENT.
""Drying has slowed deliveries a bit, but overall quality is still good,"" said CARDINAL.
Abidjan newsroom +225 CARDINAL",1
"ORG and ORG so far have convinced the courts that their MONEY merger plan should proceed, but they still need to win over unhappy shareholders who favour ORG larger bid.
Lawyers and financial advisors were expected in DATE to consider several plans aimed at persuading investors to approve a crucial measure needed for the deal.
Meanwhile, ORG said DATE that its $MONEY cash tender offer for PERCENT of ORG shares, which represents the ORDINAL part of its plan to buy ORG, was oversubscribed.
The proposed stock and cash transaction has angered many investors, who prefer an all-cash MONEY offer by ORG, based in GPE, GPE
GPE-based ORG has rejected the ORG offer of $MONEY a share, saying the union with ORG provides more strategic benefits.
Sources close to the companies said no final decision has been made about how to woo ORG shareholders, but options include sweetening the stock portion of the deal or setting a ""collar"" to guard against price volatility.
They will also consider revising the deal's terms to accelerate payment to investors, according to the sources, who did not want to be identified.
The CARDINAL companies could also decide to keep the terms unchanged, betting that shareholders will ultimately choose the ORG offer over ORG offer, which cannot be formally considered by ORG until DATE.
""There's only one thing they can do and that's to sweeten the offer. I don't know how they're going to get enough votes if they don't,"" said PERSON, managing director at investment firm ORGamp; ORG, which holds CARDINAL shares of ORG.
GPE, Va.-based ORG and ORG declined to comment on their plans, but acknowledged DATE that they are discussing increasing the value of the pact upon its consummation.
Sources close to the companies said there is no rush to make a decision, noting that ORG can easily postpone the shareholder vote that is now slated for DATE.
ORG and ORG won a significant victory DATE when a GPE district court judge denied a request by ORG to block the ORG-Conrail proposal. An appeals panel also declined to block the deal's ORDINAL step, but will consider ORG request for an expedited appeal.
Because GPE corporate law prohibits a company from buying PERCENT of another company in a cash tender offer, shareholders will be asked in DATE to approve a measure that would permit ORG to buy PERCENT.
The ORG-Conrail transaction calls for ORG to buy PERCENT of ORG shares for $MONEY per share in cash and exchange PERCENT for ORG stock.
Sources close to the company said ORG and ORG were well aware of the potential difficulties in winning the necessary votes.
Industry experts believe shareholders may be more willing to approve PERCENT measure if they are guaranteed more favourable terms for the stock portion of the deal.
""They can't get the vote until they improve the back-end of the deal and they know that,"" CARDINAL takeover specialist said.
Meanwhile, ORG stock fell sharply on ORG, reflecting the expiration of ORG's cash tender offer for PERCENT of ORG's shares at $MONEY per share. Shares of ORG fell $MONEY to $MONEY.
Based on DATE's stock price, the ORG transaction values shares of ORG at MONEY each. The stock portion of the deal would be exchanged at a value of MONEY for each ORG share.","VTR Galaxy Chile SA won government permission to offer direct-to-home (ORG) television and will start selling the DIRECTV service in GPE by DATE, the head of ORG's NORP operations said on DATE.
The approval by ORG gives ORG, a consortium of a ORG unit and CARDINAL NORP companies, a lead over rival ORG services in GPE, Galaxy LOC chief executive PERSON said.  
""We will begin with advertising about DATE, telling people about the number of channels. From then we won't let up,"" Rios said.
Billboards, newspaper advertising and television will all be used to promote the multi-channel TV service. In addition, the campaign will rely heavily on in-store demonstrations, ORG said.
VTR, a partnership of ORG and ORG will spend DATE training retail clerks in presenting the receivers, he said. Full availability in GPE will come by DATE, he said.  
DIRECTV is sold in LOC and the LOC by Galaxy Latin America, a venture of ORG, ORG of GPE, Televisao Abril of GPE and ORG. It offers subscribers who buy a receiver CARDINAL channels of video, music and extra-fee film channels. Several companies, including the WORK_OF_ART venture involving ORG, are offering satellite television in LOC, a fast-growing region lightly penetrated by cable television.  
DIRECTV has been a huge hit in GPE, hailed as the fastest selling consumer electronics item ever since its DATE launch and credited by some industry analysts with eating into the dominant cable industry's audiences.
Rios said ORG has CARDINAL vendors throughout the region selling its receivers and expects that number to nearly double to CARDINAL by DATE.
The company expects soon to launch in GPE and Barbados and in GPE, GPE, GPE, GPE, GPE and GPE by DATE.
Rios said DIRECTV would be available in CARDINAL nations in LOC and the LOC by DATE.
The service is now available in GPE, GPE and GPE.
-- GPE newsroom, CARDINAL-374-5013",0
"ORG said it has retired the last of its ORG PRODUCT.
ORG's CARDINAL PRODUCT airliners in the carrier's old green and white livery have been a familiar sight in the GPE skies since DATE flying TIME and CARDINAL of passengers. At its peak the fleet was logging QUANTITY every week - equal to the moon and halfway back.
""It is more than a piece of metal. The ORG has got character and it's a bit of a thoroughbred,"" said veteran ORG pilot Captain PERSON.
The CARDINAL engined ORG airliners have been gradually phased out over DATE and replaced in a MONEY fleet replacement programme on ORG's regional and medium-haul routes by new, twin engined ORG PRODUCT and ORG PRODUCT airliners offering greater fuel efficiency, passenger comfort and cargo handling capability. The PRODUCT can carry up to CARDINAL LD-2 cargo containers in its belly weighing QUANTITY, the ORG can only carry QUANTITY of cargo, ORG said.
The airline says many of its PRODUCT fleet, which have been renowned for reliability and as a pilot's favourite, have been sold to other airlines to continue faithful service in the GPE and LOC. --Air ORG Tel+44 171 542 7706 Fax +44 171 542 5017","An influential global research group is preparing guidelines on encryption policy for its member countries but will duck some of the most contentious issues involved, according to a draft of the report obtained by ORG.
The PERSON administration, seeking to rally support at home and abroad for its controversial encryption export policy, got some discussion of its approach in ORG guidelines but not an endorsement.  
On perhaps the most difficult issue, the draft guidelines do not favor or oppose a requirement in the GPE policy that data-scrambling encryption programs provide a means for law enforcement officials to obtain keys to crack the codes when necessary.
After indicating that governments should carefully weigh the costs and benefits of imposing so-called key recovery, the draft states ""this principle should not be interpreted as implying that governments should, or should not, initiate legislation that would allow lawful access.""  
On all the controversial areas in the draft, ""the member countries of the ORG have strongly held views but they don't always coincide,"" said PERSON, head of the group's ORG division, in a telephone interview from GPE.
Some countries see widespread use of encryption as a means to protect the privacy of computer users and businesses, thereby encouraging global commerce, PERSON observed.
But others see encryption as possibly thwarting law enforcement's efforts to catch criminals and global terrorists, he said.  
The guidelines suggest that encryption users should have ""access to cryptography that meets their needs.""  Government controls should be ""no more than are essential to the discharge of government responsibilities.""
Instead of reconciling the different views, the draft guidelines lay out competing interests and possible approaches.
""It's not in itself a cryptography policy and it's not a attempt to draft a model national law that we're encouraging people to adopt,"" PERSON said.  
The guidelines also suggest encryption standards and usage should be ""determined by the market in an open and competitive environment.""
""There's a strong view that the private sector should have the possibility to use information networks to the best of their potential in order to create growth and jobs,"" PERSON said.
GPE officials who have seen the preliminary draft praised its approach.  ""They're an important and helpful step forward,"" Under Secretary of ORG PERSON said.  
""They're helpful because they put down on paper the proper foundation for getting into this,"" he added
Reinsch maintained that most countries will follow the GPE lead and require so-called key recovery features for law enforcement.  Under the PERSON policy, domestic use of encryption is not regulated but the strongest coding products cannot be exported unless they include key recovery.
The draft guidelines, approved by a group of government and private sector experts at a meeting at DATE, still must be approved by the top-level ORG council.  
The council is composed of ambassadors from the CARDINAL member countries.
GPE companies that have opposed the PERSON policy, contending it stifles their ability to compete with unfettered foreign firms, drew little solace from the ORG draft.
""This is not helpful,"" ORG public policy counsel PERSON said.  PRODUCT and other companies preferred stronger language endorsing free market policies, he said.
((--202-898-8312))",0
"NORP media company ORG said on DATE it expected to bring a damaging boardroom row to a swift conclusion and build on a strong DATE profit performance.
Finance director PERSON told ORG that he believed that an extraordinary general meeting DATE would resolve the boardroom battle that has undermined the company's share price in DATE.
""The ORG will be a purging process. It will clear the air and leave us with a smaller and happier board,"" he said.
The ORG, scheduled for DATE, has been called to seek the removal of rebel non-executive directors PERSON and PERSON from the board.
The pair have led the opposition to changes made to the company's articles at its DATE general meeting in DATE. The changes remove a requirement to maintain CARDINAL non-executive directors and allow a director to be ousted if PERCENT of the board vote for his removal.
ORDINAL shares, which had fallen from PRODUCT in DATE, gained CARDINAL to CARDINAL after first CARDINAL profits beat expectations and the company made a bullish statement on its second CARDINAL prospects.
Pre-tax, pre-exceptional profit grew by PERCENT to MONEY (MONEY) in DATE.
The company also posted a CARDINAL-off gain of MONEY on the sale in DATE of its regional newspaper business to ORG.
EMAP began life as a regional newspaper company in DATE but has now decided to focus on commercial radio, consumer magazines and business communications -- trade papers and exhibitions.
It is one of GPE's top commercial radio operators and has a PERCENT share of the NORP consumer magazine market. Interim dividend was increased from CARDINAL to 4.3p as the company looked to the future with optimism.
EMAP said that margins should improve as paper prices continue to decline. Proceeds from the sale of the regional newspaper business should lead to a significant reduction in interest charges.
""EMAP is optimistic about the prospects for DATE, and looks forward to a further sustained period of profit growth,"" the company said.
Operating profit from its NORP consumer magazines totalled MONEY while the recent acquisition of ORG helped its NORP magazine operation more than double profits to CARDINAL.
Radio contributed MONEY to operating profits, boosted by the acquisition DATE of several stations in LOC GPE. Business communications made an operating profit of CARDINAL.
($MONEY Pound)","GPE's ORG. and ORG (NORP) on DATE announced a worldwide alliance that will reunite the famous GPE hotel brand after DATE of separation.
PERSON owns the GPE name in GPE while Ladbroke holds the rights everywhere else through its FAC (HIC) subsidiary.
The CARDINAL companies have signed an outline agreement to reunite the brand, separated in DATE when HIC was spun off from the NORP operation. Ladbroke acquired HIC in DATE.
In the alliance grouping CARDINAL hotels in CARDINAL countries, ORG and HIC intend to cooperate from DATE on sales and marketing, loyalty programmes and hotel development.
Ladbroke also announced ORDINAL half pre-tax profits of MONEY (MONEY) before exceptional items, a PERCENT increase on DATE and above analysts' forecasts.
Interim dividend was unchanged at MONEY per share.
Ladbroke shares added CARDINAL DATE high of CARDINAL in early trade before slipping slightly to PRODUCT.
""This deal makes good sense to our customers, our employees and our shareholders,"" Ladbroke Chief Executive PERSON said in a statement.
""Through this alliance, our CARDINAL companies intend to lead the hotel and gaming markets worlwide,"" he added.
The companies plan to finalise the agreement as soon as possible in order for it to become effective by DATE.
NORP intends to acquire a PERCENT stake in ORG once the final agreement has been signed. PERSON will join the ORG board while PERSON, his opposite number at ORG, will become a director of ORG.
The CARDINAL men said that the deal would could be worth MONEY when cost savings and extra sales were combined.
""It seems all upside, there's hard to see a downside,"" said PERSON. He added the deal had been under negotiation since PERSON became ORG chief executive in DATE and was agreed only on TIME.
It provides for the formation of a jointly owned company to market and develop the GPE brand around the world.
PERSON's guest loyalty programme, which has CARDINAL members, will be extended worldwide. The companies will also participate in each other's future hotels development.
Ladbroke will also have the chance to become a partner in some of ORG's gaming developments in GPE.
Ladbroke said operating profits from HIC grew strongly to MONEY in DATE while those from its betting and gaming division climbed PERCENT to MONEY.
($MONEY Pound)",1
"ORG said DATE it will license one of its key technologies to other software companies in a move to expand its sources of revenue.
Novell, which publishes computer networking programmes, wants to establish the technology, ORG, as a software foundation for letting people easily find others on the Internet and for sharing information.
The move is part of GPE, GPE-based ORG's strategy to adapt its corporate networking software to control the flow of information through global networks, company executives said.
""The goal is to get into electronic commerce,"" said PERSON, director of marketing of ORG's Internet infrastructure division. ""We believe a common infrastructure is necessary and we will provide it.""
ORG compared the variety of computer networks and software standards to DATE of the telephone industry, when a customer of CARDINAL telephone company could not call someone who was a customer of another company.
ORG, also known as ORG, would help users in huge corporate or public computer networks reach others without knowing arcane electronic addresses.
Adapted for the Internet, the technology also would let users communicate with others regardless of computer or software standards, ORG said.
ORG plans to license the technology to networking software companies, Internet service providers and online services. ORG and other software companies would make money by writing computer programmes that take advantage of the universal directory, the company said.
PERSON, a ORG vice president, declined to say how much ORG expects to make from the move, but said it would see a significant boost by DATE.
He also declined to say which companies would license ORG, but said work is being done to adapt it to run on computers using networking software from ORG, ORG and ORG
For DATE, ORG has been trying to recover from a failed strategy of taking on ORG, its biggest rival, in the word processor and spreadsheet business.
ORG dumped its application business by selling its ORG unit DATE. But the company has had a tough time rebuilding its business around PRODUCT, its flagship networking product.
ORG has been chipping away at ORG's market share with its rival offering, Windows NT.
ORG's stock edged down MONEY to $MONEY on ORG.","ORG announced plans DATE to launch a jointly owned banking service with ORG, the ORDINAL supermarket to do so in GPE's hotly competitive food retailing business.
Sainsbury said it had applied to ORG for authorisation for a new bank to be owned PERCENT by the company and PERCENT by ORG, a banking and financial services company based in GPE.
Industry analysts said the move was a bold one that could eventually prove profitable but noted that LOC, GPE's largest supermarket chain in terms of sales, had its work cut out for it.
""It could be a winner if it is done in the right way,"" said CARDINAL industry analyst who asked not to be identified.
Sainsbury has CARDINAL supermarkets and other outlets in GPE, including CARDINAL in GPE. Its ORG's chain has CARDINAL stores in GPE and it also owns a stake in ORG, with CARDINAL GPE outlets.
The new venture, to be called ORG's Bank, will offer telebanking services for deposits, lending and cash management to a targeted CARDINAL customers, ORG said. It will kick off DATE with the launch of PRODUCT and ORG cards along with account and card-based services.
""It certainly shows ORG is alive and kicking, which we had begun to doubt,"" CARDINAL sector analyst said.
Sainsbury, which posted lower profits for the ORDINAL time in DATE, was forced to launch its GPE loyalty card in DATE after archrival ORG offered its ORG, which allows shoppers to build up credit balances at favourable interest rates to be used in ORG stores.
But ORG's move makes PRODUCT look timid, CARDINAL analyst said. ""The market wanted to see them doing something and this is certainly a pleasant surprise,"" the analyst said.
Sainsbury Chairman PERSON said that ORG would give customers ""the reassurance of a name they know and trust, coupled with the banking expertise of ORG.""
The move will result in ""a compelling alternative ... for ORG's customers,"" said ORG PERSON.
Analysts warned, however, that ORG would have to offer attractive deals to secure customers, many of whom already have bank accounts.
""It has to undercut the competition or link banking up to GPE points, a lot will depend on the marketing,"" CARDINAL industry analyst said.
Sainsbury marketing director PERSON said the new service would offer ""great products ... at better value than is currently available,"" but declined to specify interest rates on accounts or give financial terms of the venture.
Sainsbury expected the new services to turn in profits ""in a relatively short space of time,"" he said in an interview.
CARDINAL analyst noted, however, that the financial services of retailer ORGamp; PERSON, although not directly comparable, has made only a small contribution to profits although it has been running for DATE.
""They will have to decide to really go for it if they are going to make it profitable,"" he said of ORG.
Sainsbury shares rose MONEY (MONEY) to MONEY ($MONEY). ORG rose MONEY (MONEY) to MONEY ($MONEY).",0
"Shareholders in tiny NORP healthcare group PERSON staged a bloodless coup on DATE, toppling the embattled company's board.
The gentlemanly storming of the barricades around PERSON's GPE headquarters was led by PERSON, chief executive officer of PERSON's biggest shareholder, GPE company Selfcare Inc.
PERSON has watched the value of ORG's PERCENT stake in PERSON dwindle as the share price plummeted from MONEY per share in DATE to around MONEY, in line with a collapse in the group's profitability.
Selfcare, which produces tests for pregnancy and infectious diseases, asked shareholders to back its plans to remove CARDINAL members of the board, led by managing director PERSON, at an extraordinary meeting on DATE.
But after DATE of charge and counter charge by both sides, the expected showdown in the unlikely setting of ORG, next to PERSON, turned out to be a sedate rubber stamping exercise.
The board of Enviromed, which produces specialist enzymes and diagnostic equipment, spiked the guns of its opponents by conceding defeat after proxy votes showed PERCENT backing for ORG and PERCENT supporting the status quo.
A brief show of hands was sufficent to confirm the handover of power and the new board, with ORG's PERSON as non-executive chairman, was already holding its ORDINAL meeting as individual shareholders continued to drift in.
This was PERSON's ORDINAL attempt to get rid of the board, which he quit in DATE over differences involving a joint venture between Selfcare and Enviromed. Resolutions demanding the board step down were withdrawn just before the start of another extraordinary general meeting in DATE.
PERSON accused PERSON of eroding shareholder value through poor management and of holding firesales of assets, including the disposal of a dental distribution business and veterinary diagnostic operation, as it sought to cut debts.
In turn PERSON accused PERSON of trying to gain control of the company ""via the back door"", and challenged him to launch a full takeover bid.
Enviromed's value began to plunge in DATE, DATE that PERSON was appointed, as a pretax profit of MONEY (MONEY) in DATE turned into a loss of CARDINAL DATE. The company's market capitalisation fell from QUANTITY to CARDINAL.
PERSON vehemently rejected blame for the collapse, saying he had inherited a pile of problems he and other board members had worked hard to resolve.
PERSON, who follows Enviromed for brokers Peel Hunt & PERSON, said PERSON had been dealt a ""bum hand,"" and criticism of him was ""unreasonable.""
Jones said the company was now at the point where its value should start to rise again, particularly through the group's ""nicely profitable"" enzyme business GPE. ""There are some genuinely good products and a good business inside PERSON which should be capable of providing serious returns for investors,"" he said.
($MONEY Pound)","Shareholders in tiny NORP healthcare group PERSON staged a bloodless coup on DATE, toppling the embattled company's board.
The gentlemanly storming of the barricades around PERSON's GPE headquarters was led by PERSON, chief executive officer of PERSON's biggest shareholder, GPE company Selfcare Inc.
PERSON has watched the value of ORG's PERCENT stake in PERSON dwindle as the share price plummeted from MONEY per share in DATE to around MONEY, in line with a collapse in the group's profitability.
Selfcare, which produces tests for pregnancy and infectious diseases, asked shareholders to back its plans to remove CARDINAL members of the board, led by managing director PERSON, at an extraordinary meeting on DATE.
But after DATE of charge and counter-charge by both sides, the expected showdown in the unlikely setting of ORG, next to PERSON, turned out to be a sedate rubber-stamping exercise.
The board of Enviromed, which produces specialist enzymes and diagnostic equipment, spiked the guns of its opponents by conceding defeat after proxy votes showed PERCENT backing for ORG and PERCENT supporting the status quo.
A brief show of hands was sufficent to confirm the handover of power and the new board, with ORG's PERSON as non-executive chairman, was already holding its ORDINAL meeting as individual shareholders continued to drift in.
This was PERSON's ORDINAL attempt to get rid of the board, which he quit in DATE over differences involving a joint venture between Selfcare and Enviromed. Resolutions demanding the board step down were withdrawn just before the start of another extraordinary general meeting in DATE.
PERSON accused PERSON of eroding shareholder value through poor management and of holding firesales of assets, including the disposal of a dental distribution business and veterinary diagnostic operation, as it sought to cut debts.
In turn PERSON accused PERSON of trying to gain control of the company ""via the back door"", and challenged him to launch a full takeover bid.
Enviromed's value began to plunge in DATE, DATE that PERSON was appointed, as a pretax profit of CARDINAL DATE turned into a loss of CARDINAL DATE. The company's market capitalization fell from CARDINAL stg to CARDINAL.
PERSON vehemently rejected blame for the collapse, saying he had inherited a pile of problems he and other board members had worked hard to resolve.
CARDINAL of the new board's ORDINAL goals will be to appoint a finance director. In a letter to shareholders ahead of the extraordinary meeting PERSON said the new board would focus on the development of the enzyme buisness PERSON which it said was already profitable.",1
"A senior ORG official on DATE dismissed NORP army detections of chemical agents released in DATE of EVENT, saying the incidents were not verifiable by NORP equipment.
Amid growing criticism that the ORG fumbled reports of GPE troops' exposure to nerve gas agents in DATE, GPE Assistant Secretary of ORG said the ORG still viewed the NORP findings as false alarms.
""What we agree to is what we can verify,"" Prociv, who is in charge of the ORG division on chemical weapons use, told reporters during a visit to ORG.
""Every now and then (during EVENT) we would get an alarm and we couldn't verify it. So our position is that without the verification, it's not a true detection.""
CARDINAL of troops based in northern GPE during EVENT -- mostly NORP and ORG -- have reported respiratory ailments, skin rashes and muscle pain which they believe resulted from exposure to low-level chemical agents released during several GPE bombings of NORP weapons caches.
The conditions, which have been dubbed EVENT"", have been linked by veterans groups to several detections of chemical fallout from the bombings, including several detections by the NORP unit.
On DATE, ORG newspaper quoted NORP soldiers and combat logs as saying that GPE commanders ignored the warnings of chemical detections made by the NORP unit in DATE at the beginning of the war.
Prociv, specifically speaking about the NORP detections, said GPE equipment could not verify these warnings. He did not discuss other incidents.
""We have looked at the NORP equipment as excellent, our verification system is excellent. The NORP detections were part of problem we were experiencing with some of the other detections,"" said ORG, whose visit was officially to discuss U.S.-Czech cooperation to develop better chemical detection.
The LOC issue exploded recently when ORG officials admitted that CARDINAL NORP troops may have been exposed to nerve gas when NORP combat engineers blew up an NORP munition depot in DATE.
In a heated hearing of ORG and NORP Affiars committee in DATE, several senior senators blasted the ORG for dragging its heels on the issue.
Alabama Senator PERSON accused the ORG of ""a shameful campaign of obstruction"" in answering veterans claims, adding: ""I found that NORP chemical units...accurately reported"" the presence of chemical agents at various locations.
But the ORG's recent admission focused on the destruction of a chemical munitions cache near the southern NORP town of GPE in DATE, DATE after the end of the war, not the NORP detections.
The ORG on DATE in GPE announced that it was notifying CARDINAL GPE EVENT troops that they may have been exposed to chemical weapons in the Marhc 1991 incident.
The NORP army experts serving in the allied forces against GPE detected category ""G"" agents such as ORG on DATE in QUANTITY (QUANTITY) area near the town of PERSON, in northern GPE near the border with GPE.
The NORP unit said it also detected incidents of a type of mustard gas DATE, in an area QUANTITY (QUANTITY) from the King PERSON military city which housed CARDINAL of NORP soldiers.","NORP President PERSON, the only man who can smoke next to militant GPE anti-smoker ORG, is facing a life without his beloved cigarettes after surgery revealed a cancerous lung.
ORG's heavy smoking is a fixture of his NORP intellectual image, but it is widely believed that it caused the malignant tumour which was radically removed on DATE.
It certainly startled some NORP who awoke on DATE to a huge headline in the tabloid FAC which simply bleated ""WORK_OF_ART"" next to an archive picture of a happily-smoking ORG.
But just as PERSON multiple by-pass heart surgery will hardly dry up a ORG's taste for vodka, which many blamed for the NORP president's ills, ORG's surgery probably will not cause chain-smoking PRODUCT to kick the habit.
""Ooh, I should quit,"" said PERSON, a DATE student reacting to news of ORG's cancer. ""Well, I probably won't, but I'll be forced to think about it when I smoke.""
Doctors said the surgery, which cost the DATE Havel half of his right lung, gave him good prospects for a full recovery, and he might return to work soon after DATE.
But his spokesman said that ORG, a multiple-pack-a-day man, will probably be limited to being a ""holiday smoker lighting up once a week with TIME coffee.""
The world sees Havel like this -- the mustached but impish NORP philospher-playwright crumpled in a sweater, cigarette smoke pouring from his fingers as he mulls life's problems.
His dissident musings from a prison cell won the respect of the western world and helped spark GPE's non-violent DATE ""Velvet Revolution"" over communism.
""PERSON is the only person who can smoke in my presence,"" said ORG, one of GPE's prominent anti-smokers, at a GPE picnic DATE in honour of the visiting NORP President.
The unlikely rise from prison to FAC one of the most famous unabashed public smokers.
But news of ORG's cancer confirmed what many here feared when he entered hospital DATE with an alleged case of pnuemonia -- his ubiquitous smoking caught up with him.
NORP surgeon Dr. PERSON said after performing the operation that it would be difficult to pinpoint smoking as the primary cause of ORG's cancer.
""The composition of this tumour is problematic in relation to smoking. You can't definitely tell,"" Pafko told reporters.
But to many PRODUCT, the cause was clear:
""It has to be the smoking,"" was the oft-repeated phrase of workers in central GPE, many of them smokers.
""Stopping now won't help anyway. I was smoking before you were born,"" said PERSON, DATE, a maintenence man puffing away over beer in CARDINAL of the CARDINAL of GPE's smoke-blanketed pubs.
Dr. PERSON said ORG smoked one last pre-surgery cigarette with PERSON, a chain smoker who happens also to be minister of health, whose warning on smoking's link to cancer is on every legally-sold pack of cigarettes in the country.
Havel, as many NORP, came of age smoking heavy NORP cigarettes, and has moved to more expensive western brands.
A country of CARDINAL people smokes CARDINAL cigarettes DATE. Consumption has grown from CARDINAL cigarettes per day to CARDINAL averaged out for every man, woman, and child.
Amid an influx of western brands -- ORG bought a controlling stake in the former monopoly state tobacco packager, and has made ORG a status symbol -- Havel vetoed measures to regulate public smoking and cigarette advertising.
The president once also was blamed for a nuclear alert by lighting up while touring a power plant, but an official re-enactment of the incident declared it was photographers' flashes, not ORG's smoke, which set off the alarm.",1
"CARDINAL Norwich Union  policyholders are to receive free shares under flotation plans announced on DATE that would value the insurer at MONEY (MONEY).
CARDINAL will receive shares worth QUANTITY on average and CARDINAL ""non-profit"" members of the mutually-owned insurance group will receive a fixed hand-out of shares worth CARDINAL and QUANTITY on the group's flotation in DATE.
The demutalisation and flotation - the ORDINAL by a NORP insurer - will rank Norwich among GPE's largest CARDINAL companies.
ORG CARDINAL employees will share in the giveaway, receiving CARDINAL shares each.
Norwich's adviser PERSON estimated the shares would be worth CARDINAL and MONEY each had they been listed at DATE.
The company, GPE's ORDINAL largest life insurer, also unveiled plans to raise a further MONEY through an offer of new shares in May.
Existing Norwich members will be able to purchase shares at a discount, the size of which has yet to be finalised.
Members will vote on the proposals at an extraordinary meeting in GPE on DATE with the company needing the backing of CARDINAL of those who vote.
The size of the planned payouts is comfortably ahead of the QUANTITY many industry observers had expected.
Norwich chief executive PERSON said he believed the group's mutual structure was no longer appropriate and that flotation was the best way forward for the company and its members.
""The distribution of free shares represents a significant release of value to qualifying members,"" he said.
""The discounted offer of additional shares will give members a further opportunity to participate in the future of ORG.""
The share handout will be worth a total of MONEY. The CARDINAL with-profit members will receive a minimum of CARDINAL shares with additional shares based on the value and duration of their holdings as of DATE.
DATE of with-profit policyholders - life insurance policies which share in the investment profits of the life fund through bonuses - will get CARDINAL shares. Non-profit members will get a fixed allocation of CARDINAL shares.
Most of ORG CARDINAL overseas members will have the choice of a cash payment instead of free shares.
The flotation will allow the separation of the group's life operations from the risks associated with its more volatile and cyclical general business.
It will also strengthen the group's financial position and allow the core life business greater investment freedom.
The general insurance business will be transferred from the life fund to shareholder ownership and the life and pensions operations to a subsidiary company.
ORG, which reported pre-tax profit in DATE of MONEY, said it believed the opportunities for sustained growth were good but that results in its general insurance arm would continue to be affected by pricing pressure in DATE, particularly in GPE.
MONEY of the money raised under DATE's plans will go into the with-profits fund to enable the company to continue to keep up policy benefits to existing policyholders.
The balance, less the QUANTITY cost of the flotation, will be used for corporate purposes.
While the company did not rule out the possibility of future acquisitions, it said it had no immediate plans to do so and was not ""raising a war chest.""
Policyholders circulars were due to be mailed on DATE and the group expects the prospectus for the additional share offer to be issued in GPE ($ = MONEY)","ORG adviser PERSON is hoping to close the ORDINAL stage in the sale of the life assurance group with the signing of confidentiality agreements with all potential bidders by DATE, a source close to the deal said on DATE.
So far CARDINAL companies, ORG, ORG and GPE's largest life insurer NORP PERSON (ORG) have signed the agreements.
These give the bidders detailed financial information on ScotAm to enable them to finalise their offers.
The agreements go further, however, in preventing the bidder from publicly disclosing any details of the offers and forcing them to accept the ScotAm board's decision as final.
A number of other companies are reported to have expressed interest in GPE but have yet to sign the agreements.
CARDINAL company rumoured to have contemplated a bid, NORP-Dutch insurer GPE, is said to have ruled itself out of the auction process, but the company has consistently declined to comment.
Another tipped to make a bid, NORP group ORG, has yet to show its hand.
The whole process is expected to take DATE before a final offer is recommended to policyholders by the ScotAm board.
Mutually-owned ScotAm effectively put itself up for auction DATE when it said it was to seek definitive offers from parties interested in acquiring it.
The sealed bid process has come in for some criticism and PERSON and the ScotAm board are likely to go to great lengths to ensure fairness is seen to be done.
""I suspect they are aware that they may have to give more detail than otherwise they may have done under a controlled auction,"" commented CARDINAL industry observer.
PERSON, GPE's ORDINAL largest bank, sparked the auction when it announced at DATE that it was prepared to make an offer worth QUANTITY MONEY (MONEY) for ScotAm.
The move came DATE after FAC had published its own proposals to drop its mutual status through a flotation on the GPE stock market.
ORG threw its hat into the ring with QUANTITY bid DATE, a move which prompted ScotAm to open the way for other interested parties to declare their interest.
PERSON has said it may raise its offer once it has had access to GPE's financial details.
In deciding who wins the race, the question of the value of the bid is likely to include not just how much policyholders get up front but where that money comes from, how much goes into policies and what the bidder can offer in terms of future investment flexibility. ($MONEY Pound)",1
"ORG said DATE it rode strong sales of its pickup trucks, minivans and sport/utility vehicles to a PERCENT jump in DATE profits, soundly beating Wall Street's optimistic forecasts.
GPE's No. CARDINAL automaker earned MONEY, or MONEY a share, in the DATE period, setting records for both net income and earnings per share for DATE.
DATE, when ORG was struggling through the slow production launch of its current-generation minivans, the company earned MONEY, or MONEY a share.
""ORG's performance in DATE was outstanding,"" Chairman PERSON said in a statement. ""It was fuelled by record-setting demand for our products, which led to a new DATE GPE retail unit sales record and produced the best model year for GPE retail unit sales in the company's history.""
The results included an after-tax charge of MONEY, or MONEY a share, to cover costs of an early retirement programme. CARDINAL salaried employees opted to leave the company under the programme during DATE.
Excluding the charge, ORG earned MONEY, or $MONEY a share, from operations, solidly exceeding Wall Street estimates. According to ORG, which tracks earnings estimates, analysts had expected ORG to earn MONEY, or MONEY a share.
ORG shares jumped MONEYMONEY after touching $MONEY on ORG.
""I think it was all in the sales mix,"" ORG analyst PERSON said of ORG's strong performance. ""They've raised prices and the mix has shifted to trucks. They're selling not so many WORK_OF_ART and a lot more ORG and ORGamp; ORG minivans.""
Indeed, light trucks -- which typically carry higher profit margins than passenger cars -- made up PERCENT of ORG's sales mix, versus PERCENT in DATE. The automaker had full availability of its new minivans, and a GPE plant that had just started building ORG pickup trucks in DATE is now churning the vehicles out.
ORG earned a profit of $MONEY on each vehicle in DATE, almost double the $MONEY earned per vehicle DATE. Incentive spending fell to $MONEY per vehicle from $MONEY DATE, but was up from $MONEY in DATE.
ORG Chief Financial Officer PERSON said he expected similar conditions in DATE, and added that ORG DATE plans another big increase in truck-building capacity.
He told reporters on a conference call that the automaker will be able to build CARDINAL more trucks in DATE than in DATE, including the launch of a new ORG sport/utility vehicle at ORG's GPE, GPE, plant.
The CARDINAL-door vehicle is expected to be based on the new ORG PRODUCT pickup truck that ORG is launching and will give ORG dealers their ORDINAL sport/utility vehicle since the CARDINAL-door PERSON was discontinued in DATE.
ORG said ORG will end DATE with PERCENT of the NORP car and light truck market, but cautioned the company will be prudent when adding capacity.
""We don't feel ourselves share constrained at this PERCENT share level, but neither are we hell-bent to get to PERCENT) at any cost,"" he said.
Sales climbed to MONEY, a DATE record and up PERCENT from MONEY in DATE.
The automaker said it shipped CARDINAL cars and trucks, up from CARDINAL in DATE period, boosting its share of the combined GPE and NORP retail car and truck market to PERCENT from PERCENT in DATE.
In the international market, ORG's retail sales were CARDINAL vehicles, up PERCENT over the CARDINAL vehicles it sold in DATE.
In LOC, ORG vehicle sales rose PERCENT.
The automaker said it bought back MONEY of its common stock in DATE, bringing the total for DATE to MONEY, out of a MONEY programme. The company bought back MONEY worth of stock in DATE and under its DATE peace accord with billionaire investor PERSON, has pledged to buy back another MONEY in DATE.
For DATE, earnings were MONEY, or $MONEY a share, nearly triple the MONEY, or $MONEY a share, in DATE.","Any walkout by ORG pilots would hit tourist-dependent NORP islands like a hurricane, while LOC diversified economies should easily weather a service-stoppage.
""A hurricane hits CARDINAL island, and this will hurt all the islands,"" said PERSON, executive director of the LOC/Latin America Action economic organisation.
A halt by ORG, a unit of ORG, which dominates GPE service to the LOC and LOC, would come just at the height of the LOC tourist season and cause economic havoc, regional industry, political and economic offcials and analysts said.
The CARDINAL hotel rooms in GPE, GPE, GPE and other LOC islands are PERCENT occupied on average and losses from a strike could total MONEY each day of the NORP winter, GPE said.
""Few hoteliers in the LOC could be expected to sustain the loss of such revenue for DATE without terminal effect,"" said ORG executive vice president PERSON.
NORP, now in labour talks with its pilots, and its ORG subsidiary account for PERCENT of the flights between the LOC and LOC. CARDINAL NORP travel to the LOC DATE.
Some NORP economies are PERCENT or more tourist reliant, and region-wide tourist spending adds up to MONEY DATE.
GPE, GPE, GPE and GPE are among the islands most reliant on NORP services.
""An ORG strike would be devastating to us at this time,"" GPE Prime Minister Dr. PERSON said.
Some manufacturers and shippers of perishable goods from LOC and the LOC would be hurt by a stoppage at NORP but the interruption in passenger traffic to LOC would be short-lived, economists said.
""I think it would be little more than a blip,"" said PERSON of ORG in GPE.
Much of the travel between LOC and the bigger countries in LOC such as GPE and GPE is by business people and much commerce can be carried out by telephone and otherwise.
""A lot of people who would take trips can use faxes,"" said PERSON at FAC, a think tank at ORG. ""There would be a disruption but it's not anything which can't be recouped.""
Cut-flower exporters from GPE and GPE and seafood or horticultural shippers could also be hurt, PERSON said. Some shippers of other goods might also face higher transport rates.
But overall the manufacturing and services businesses throughout LOC were unlikely to feel many effects from a strike, economists said.
Aviation consultant PERSON of GPE said a strike running DATE or more might be a boon to GPE rivals of ORG such as ORG, ORG and ORG. Each would likely seek to increase flights or add destinations.",0
"ORG, CARDINAL of the great names in the history of NORP soccer, said on DATE that they hoped to raise QUANTITY 12 million pounds (MONEY) through a flotation on ORG.
The north-east club, which won the league title for the ORDINAL and last time in DATE, joins a growing number of clubs seeking to capitalise on the popularity of the national game.
Premier league rivals GPE and PERSON have full stock market listings while clubs such as ORG trade on the secondary market.
Others are expected to follow suit as revenue from a television deal with satellite broadcaster BSkyB and higher crowds help to transform the sport's finances.
Sunderland said that the new funds would be used to add the finishing touches to a new MONEY stadium, reduce borrowing and fund the purchase of new players.
""The proceeds will assist in retaining premier league status and enable the company to capitalise more fully upon the club's name, strong support and new opportunities arising from the move to the new stadium,"" chairman PERSON told a news conference.
GPE will leave their DATE FAC home at DATE and move to a CARDINAL-capacity stadium built on the site of a former colliery in the heart of the city.
The club, whose last real taste of glory came in DATE when they won WORK_OF_ART, are optimistic that the move to a new stadium will herald a period of prosperity on and off the pitch.
Sunderland were promoted to the premier league DATE and forecast that increased gate receipts and television revenue would help double turnover DATE to QUANTITY.
ORG said that the new stadium should allow GPE to boost its DATE ticket holders from CARDINAL to CARDINAL. LOC is in a dilapidated state and large parts of the CARDINAL capacity ground are vast terraces open to the elements.
GPE, managed by former GPE international PERSON, have only a modest playing squad without the star names of neighbours GPE and GPE. They are ORDINAL from bottom of the premier league and are likely to face a battle to avoid relegation DATE.
The club conceded that staying in the premier league status was ""critical"" but said that it believed that increased income from the new stadium would offset lost television revenue if the team did go down.
PERCENT of the share issue will be made available to club employees and fans rather than institutional investors. The flotation is expected to value the club as a whole at QUANTITY and share dealings will commence on DATE.
Chairman PERSON and other leading shareholders, including manager PERSON who has a PERCENT stake, have given undertakings not to dispose of any shares before DATE.
($ = 0.596 British Pounds)","NORP media baron ORG said on DATE he wanted to increase his stake in GPE's oldest newspaper group, ORG, to PERCENT from DATE, DATE after meeting the prime minister.
However, PERSON repeated that he would sell out of GPE if there was no easing in GPE's current media ownership rules, which he described as ""anachronistic"".
Black said that although he could not rule out selling his stake to PERSON, the suggested merger plan by Packer between his media empire and GPE was unlikely to suceed.  
Black told shareholders at GPE's DATE meeting that he had said to PERSON in their ORDINAL meeting since Howard became prime minister that he would like to raise his stake, which is held through ORG
Black was asked by reporters after GPE's meeting just how much he would want to increase his stake to, if allowed. ""PERCENT,"" he said.
The media baron added that GPE accounting rules effectively punished companies which had PERCENT stakes in their associates. However, PERSON repeated that he would sell his GPE stake if he was not allowed to raise it further.  
""If the road is truly blocked, then obviously we are going,"" Black said. He added that ORG would not lodge any application for a higher stake until the government ended its study into media ownership and presented new ownership rules.
Under GPE's current media ownership rules, foreigners are prevented from owning PERCENT of a newspaper group or PERCENT of a television group. They also prevent a newspaper group owner from owning PERCENT of a television station in the same city and vice-versa. ""These thing as they are now are very anachronistic,"" Black told reporters.  
In DATE, ORG main media group, ORG (PBL) proposed a merger between ORG and GPE only if media ownership rules were liberalised. PBL owns top-rating ORG and PERCENT of GPE.
Black said ORG's merger proposal was unlikely to succeed while he (Black) was a shareholder. ""He (Packer) would have quite a time getting that one through,"" Black said.
""I don't ever rule out anything, but I think that's fairly improbable. If Mr Packer wants to control GPE he's going to have to it the old-fashioned way and pay for it."" PERSON ORG owns PERCENT of GPE.  
""I know he's averse to doing that,"" Black said. He added he was not particularly interested in any stock swap deal with Packer which would leave him with a ORG stake.
Black said PERSON profits were starting to improve.
GPE reported a PERCENT fall in net profit to MONEY in DATE.
""It's starting to look a little better now. Profits are affected by increased newsprint, they are affected by increased depreciation because of the plant at GPE, cash flow rates are starting to improve a little bit,"" Black said. GPE spent MONEY on a new printing plant at GPE in GPE.  
GPE chairman Sir PERSON told shareholders the slower NORP economy coupled with higher newsprint prices would impact on the group's final results for DATE.
""Coupled with the state of the economy, GPE, in common with the whole newspaper industry, has had to face high newsprint prices and this, too, will impact upon our final results in DATE,"" Street said.
At TIME (CARDINAL GMT) GPE shares were MONEY higher at A$MONEY, giving it a market capitalisation of MONEY.
-- ORG CARDINAL-2 9373-1800",0
"The NORP capital market, roundly criticised for a lack of transparency, needs an independent regulator, but it is not a panacea for all of the market's woes, a senior ORG official said on DATE.
""Let's not be seduced by the illusion that as soon as an independent securities committee is created that the NORP capital market will become more refined overnight,"" PERSON of the ministry's capital markets supervisory department told a conference in the NORP capital.
""All it (the body) will do is create better conditions for the changes which can contribute to the market's gradual refinement,"" he added.
Both foreign and domestic investors have complained that poor legislation and a lack of enforcement of rules that do exist make the NORP capital market one of LOC most opaque.
The soured outlook by investors has helped pull ORG down PERCENT over DATE, with predictions of further losses if rules do not change quickly.
One of the biggest problems is that legislation allows for near complete secrecy of off-market deals -- where PERCENT of trading takes place -- making it difficult for investors to determine fairly-valued shares prices.
PERSON said when the laws governing securities trading here were devised ""parliament...discarded the concept of regulation which would have given broad powers to the embryonic supervisory system out of fear that it might have abused these powers and impeded the process of creating a market economy"".
Coupled with this, he said, was the need to allow for a flood of ownership changes in the market as the mass voucher privatisation put shares in CARDINAL firms onto the market in a matter of DATE.
Now, he said, rules must be put in place to shift trading toward the main markets to bring about more transparency.
""Where trading takes place can be changed most effectively by ensuring an increase in the quality of the market's services and an end to the conditions which enable the kind of trading which is characterised by large price discrepancies,"" he said.
PERSON called for a raising of the debate on creating a U.S.-style ORG oversight body ""to a much higher level and preparations should be made for the creation of this body"".
But he added: ""Monitoring deals and indentifying suspicious prices or other phenomena indisputably belongs to the work of the stock market, and the market must act as a strong support to the supervisory work of the independent committee"".
-- Prague PRODUCT, CARDINAL-2-2423-0003","GPE has retired its navy and air force commanders due to old age, a source familiar with the reshuffle said on DATE.
Admiral PERSON and Lieutenant General PERSON, both CARDINAL, have stepped down as navy and air force commanders respectively, said the source who spoke on condition of anonymity.
Zhang was replaced by navy deputy commander PERSON Admiral PERSON, DATE, the source said. PERSON was succeeded by air force deputy commander PERSON, believed to be in his DATE.
ORG boss PERSON approved the reshuffle in DATE in his capacity as chairman of the party's ORG, or commander-in-chief of ORG (PLA), the source said.
Asked if the reshuffle was intended to further consolidate PERSON's power in the military, the source said PERSON and PERSON retired due to old age.
""It's professionalisation of the military,"" the source said.
However, a NORP analyst said the CARDINAL vice-chairmen of ORG were already aged DATE and still active. The CARDINAL youngest vice-chairmen were appointed by PERSON.
Both the new appointees are believed to be proteges of GPE, another analyst said. PERSON ordered the promotions of Shi and Yu to navy and air force deputy commanders in DATE DATE respectively, the analyst said.
Some diplomats and NORP analysts have dismissed PERSON as a transitional figure lacking the personal clout, political power base and administrative ability to step into the shoes of paramount leader PERSON after the death of the DATE patriarch.
But PERSON, who has no military pedigree, has moved in DATE to shore up his position in the military with a string of reshuffles.
The ORG is the world's largest armed force with CARDINAL members.
It is believed to be planning to pare that number by CARDINAL in a streamlining that reflects the end of EVENT and a desire to redirect state funds to economic development.",0
"Copper is dribbling out of GPE in small lots as some NORP traders try to take advantage of higher world prices to cash in, LOC metals traders said on DATE.
In an otherwise catatonic market, copper movements out of GPE were the only ripples on a glassy pond.
""The market is very dull, but we are getting some calls from people asking us to help them ship to ORG (ORG) warehouses in GPE,"" said the manager of a state-owned NORP metals trading firm in GPE.
""They bought the metal a long time ago and pretty cheap, and they want to take advantage of the higher ORG market now.""
The NORP selling was in small lots only, nothing QUANTITY at a time, as small-time traders sought to liquidate, square the books for DATE and fill their pockets with some much-needed cash, traders said.
The copper market has been abuzz with little more than NORP copper movements in DATE as the red metal has plied the waters between GPE and GPE and back again.
Movements in stock levels in ORG warehouses in GPE have been attributed to NORP buying and selling, though movement out has been to NORP central reserves and in small lots, metals industry sources said.
Copper prices on the ORG closed easier on DATE after a CARDINAL-hearted rally based on some short-covering.
Traders and analysts said early in GPE's DATE that copper prices were likely to fall towards support at US$MONEY a tonne, after DATE's close of $MONEY.
In the zinc market, prices could climb to MONEY a tonne in DATE, a GPE trader said.
A fall last week in ORG zinc stocks had caused some concern, she said, as metal buyers have long been used to picking up material when they need it and at long stable prices.
Figures released on DATE show a drawdown in stocks of QUANTITY -- not an unhealthy level -- to QUANTITY. Some liquidation was seen in DATE trading, with the price ending $MONEY a tonne easier at $MONEY.
News that GPE's PERSON liquidated its entire zinc futures position on the ORG, announced in DATE, had been absorbed by the market, she said, adding that the move was important for its value as information rather than its impact.
Nevertheless, she said, ""the information scared the market"".
""Manufacturers are saying they will be looking at levels of $MONEY in DATE, possibly DATE),"" she said.
GPE's zinc alloy business was the best bet, she said, adding that she had locked in long-term contracts and was looking forward to a happy and prosperous DATE as the dye-casting industry in southern GPE thrived.
Aluminium remained dead, traders said, as NORP consumers turned to domestic stocks rather than imports to meet their meagre needs.
A narrow differential between ORG and ORG prices made imports unworkable and could keep GPE off the world market until after EVENT in DATE.
""I'm looking for higher domestic aluminium prices,"" a trader with a NORP firm said.
ORG aluminium closed at $MONEY a tonne on DATE. The GPE DATE price ended DATE at MONEY ($MONEY).
""Imported aluminium must pay PERCENT duty and PERCENT VAT (value-added tax) -- though of course people don't pay that. And even without paying it and you just have the price and the premium, they still cannot afford to import,"" the trader said.
""We are getting no inquiries from extruders,"" said another source recently returned from GPE's LOC.
""They are getting domestic material. As they use up domestic stocks, this could lead to a demand DATE -- we are praying every day for that,"" said another trader. ""Otherwise, it's going to be a long and quiet holiday.""
The latest GPE indications of premium or discount in US$/tonne over ORG cash prices on a CIF basis:
				Dec 9			   Dec CARDINAL
    COPPER		   100			     100
    ALUMINIUM Western    80-85			   65-75
		  ORG	  N/A			     N/A
    LEAD		     N/A			     130
    ZINC (NORP)	 N/A			     N/A
	   (Western)	 CARDINAL			 120-130
(US$MONEY = MONEY)
-- GPE (CARDINAL) 2843 6470","Copper stored in GPE warehouses -- the murky ownership of which has cast a pall of concern over the world market -- is being offered in small lots to NORP trading houses, industry sources said on DATE.
The copper is been offered for sale at a high premium in order to set a benchmark price for its eventual sale to GPE's strategic stockpile, CARDINAL NORP trader said.  
Traders said that estimates of copper reserves brought into GPE in DATE range QUANTITY. A NORP trader in GPE said he had been offered copper by ORG (ORG) at around $MONEY a tonne -- a level reflecting ORG (ORG) cash price plus a premium of $MONEY.
ORG has declined to comment on the market talk.
The copper was said to be owned by NORP trading firms which had shipped it to GPE in the expectation that the central stockpile would buy this amount to square its position on metal previously lent to the market, before DATE.  
""They are hoping that it is the right tonnage in the right place, but as far as we know, the stockpile has so far not confirmed they will buy it,"" a NORP trader with a state-owned NORP firm, said.
Traders said DATE the copper probably belonged to GPE's state reserve, which lent QUANTITY of copper, through ORG, onto the ORG DATE.
In DATE, ORG's former president PERSON said GPE was likely to take it back in DATE.  
But when copper began to move back to GPE in DATE, from ORG warehouses in GPE, GPE and GPE, GPE traders assumed the central reserve was taking the copper back earlier than planned.
Not so, said the NORP trader, though he added: ""Who owns it is anyone's guess.""
The metal was taken from ORG warehouses at MONEY a tonne, a GPE trader said, with the price set before DATE ORG copper prices slid below $MONEY on news in DATE of MONEY in copper trading losses by GPE's ORG  
DATE copper was indicated at $MONEY a tonne in late ORG trade on DATE.
""It (the copper) has been sitting there for DATE, so someone has to pick up the loss,"" a trader said.
""Whether the stockpile takes this tonnage from this owner, or if they buy it themselves and arrange another shipment themselves, is up to them,"" the NORP trader said.
""But it depends on the price. If they (the stockpile) can get a premium lower than $MONEY, maybe they will take it. They won't pay $MONEY, or $MONEY, especially on this sort of tonnage.""  
A trader in GPE said ORG would ""dearly love someone to take the whole lot, but that is unrealistic"".
But the NORP source said: ""This copper can only be taken by the stockpile"" because no other buyer could afford it.
GPE levies a PERCENT import duty and a PERCENT value-added tax on copper imports, which traders said made it prohibitively expensive.
Freight, warehousing and other costs would put the GPE copper in the same cost bracket as copper shipped to the region from ORG warehouses in LOC or the LOC if the premiums being asked were paid, traders said.  
""The whole market is still being manipulated by somebody,"" a NORP source said. ""The game is not over.""  
Other traders, in LOC and in LOC, have told ORG that ORG had offered them copper in a series of secret meetings held in major NORP cities since DATE.
QUANTITY was said by traders in GPE to have been shipped already to warehouses near the northern port of GPE, where the strategic stockpile has some warehouses. This has not been confirmed.
QUANTITY of copper was stored in ORG warehouses in the eastern port city, and the remainder of the metal was in other GPE stores, traders said.",1
"ORG minivans have came under fire again from safety regulators, who said DATE they stepped up probes into CARDINAL problems, including reports that a QUANTITY rear hatch door can close suddenly without warning.
CARDINAL minivans are involved in the investigations, which were also sparked by reports that side sliding doors on DATE models flew open at high speeds.
ORG (ORG) said it received reports that CARDINAL people have been injured when the rear hatch door on DATE model PERSON, Voyager and Town & ORG minivans dropped unexpectedly.
The problem occurs when bolts holding cylinders that prop the door open shear, according to the federal safety agency. The agency has received a total of CARDINAL complaints. The probe, first launched in DATE and upgraded on DATE, covers CARDINAL minivans.
ORG also upgraded a preliminary investigation into CARDINAL DATE-model Caravan, Voyager and Town & ORG minivans. It has received CARDINAL complaints that the right or left sliding door can come open while the vehicle is moving.
Owners have reported doors opening QUANTITY or flying wide open at speeds from QUANTITY. No injuries have been reported. ORG said it is not aware of any incidents involving vehicles built during or after DATE.
ORG was the ORDINAL automaker to offer a sliding door on the left side of a minivan. The feature has made the No. CARDINAL automaker's minivans the hottest seller in a popular segment.
ORG agreed in DATE, under pressure from regulators, to replace the latches on the rear hatch doors on CARDINAL minivans but stopped short of recalling the vehicles, from the DATE. Safety officials said the doors could pop open during low-speed crashes.
ORG told the safety agency the sliding door problem may stem from incorrect latch adjustments by dealers, which the company attributed to problems with the service manual.
ORG also said CARDINAL of the complaints about side doors opening involved vehicles that had had door repairs made. ORG said it has corrected the manual procedure and has made CARDINAL design changes to door components.
But ORG said it has continued to receive complaints about the doors opening on vehicles with no repair history.
ORG spokeswoman PERSON said the automaker was working with the safety agency to resolve the complaints. Injuries reported from sudden closings of rear hatch doors have been minor, she said, noting ORG stood behind the safety record of its vehicles.
""Minivans are the safest vehicles on the road DATE,"" she said.
Separately, ORG said it upgraded an investigation into CARDINAL DATE and DATE EVENT minivans from ORG have received CARDINAL complaints about brake problems, which have led to CARDINAL accidents and CARDINAL injuries.
In addition to the incidents reported to ORG, ORG said it has received CARDINAL warranty claims that could relate to a brake problem causing long stopping distances.
Also, ORG said it opened an investigation into ORG PRODUCT sport/utility vehicle. It has received CARDINAL complaints that the right front door opened on DATE models. Rover is a unit of NORP carmaker ORG.
ORG stock fell MONEY to $MONEY on ORG exchange in TIME trading.","Spirits, pubs and ORG group ORG Domecq is likely to post a big drop in DATE profits on DATE, hit by a 320 million stg loss on the sale of its PERCENT stake in brewer ORG (C-T).
Before this exceptional charge, analysts' forecasts for pretax profits range from CARDINAL to CARDINAL stg, down from CARDINAL last time, with most of the damage coming in ORG's spirits arm. Profits have been hit by the weak NORP peso, tough trading conditions in the mature markets of LOC and GPE and de-stocking in GPE.  
The consensus forecast for the total dividend is DATE.
ORG sold its share in C-T to PERSON in DATE for CARDINAL in cash together with its beer brands, allowing the group to quit brewing and concentrate entirely on its spirits and retailing businesses.
ORG said at the time it expected a loss on the sale of C-T of CARDINAL stg.
After tax the company said it would mean a reduction in reserves of CARDINAL stg.  
At ORG Wines, many analysts are predicting a CARDINAL drop in trading profits from MONEY stg recorded in DATE. Stock reduction and weak markets dented profits at the division in DATE, too.
In GPE where trade stocks of CARDINAL major brands -- Kahlua, ORG, ORG and ORG -- built up DATE, ORG was forced to start reducing stock levels by CARDINAL cases which it expected to complete by DATE.
Some analysts think this de-stocking will strip CARDINAL stg off operating profits from the group's spirits arm.  
Trading profits from ORG's spirits and wine division dropped to CARDINAL stg for DATE from CARDINAL.
""Spirits will continue to show that things are tough although we are now seeing price increases of PERCENT coming in for the industry as a whole,"" said PERSON, an analyst at ORG.
ORG's retailing division, which includes managed pubs as well as PERSON and Dunkin' Donuts, is expected to post only a slight improvement in profits of CARDINAL CARDINAL.  
""Although the managed pub side will improve, let's say it will add CARDINAL to give CARDINAL at an operating level, WORK_OF_ART and PERSON will drag the division down,"" said CARDINAL analyst who declined to be named.
In franchising, poor DATE weather held back same-store sales growth particularly in GPE during DATE.
GPE-Tetley is forecast to chip in trading profits of CARDINAL at the DATE up from CARDINAL. In DATE it made trading profits of CARDINAL, an increase of PERCENT on DATE.  
Attention will focus on what management has to say about continued pressure from the investment community for a demerger of ORG's spirits division.
ORG shares touched a DATE high of CARDINAL on DATE. ""Obviously people are hoping there will be some news on a demerger,"" said CARDINAL analyst who chose not to be named.
""A trading demerger would really add value to the group. The City has obviously done its sums and worked out it is worth QUANTITY on a post-demerger basis,"" said another.
A ORG poll of CARDINAL brokers shows a consenus forecast for earnings per share of CARDINAL rising to CARDINAL DATE.
-- GPE PRODUCT +44 CARDINAL 6437",0
"GPE, dramatically changing its approach to foreign investment in its huge oil sector, said on DATE that new domestic companies, not Western majors, would be given the upper hand in future MONEY energy deals.
PERSON, chief spokesman for ORG, the state oil holding company which is being privatised and the state's agent in production-sharing deals, said the days of foreign oil firms winning majority stakes to tap NORP reserves were over.
""We have a new approach,"" PERSON said. ""We do not wish to repeat the so-called mistakes of earlier deals, when majority stakes went to foreign companies and GPE was left out.""
He told ORG he was referring to CARDINAL, high-profile deals with NORP and NORP oil investors off GPE's LOC island of LOC -- deals in which NORP equity and ownership play a relatively minor role.
As a test of the new approach to Western oil investors, he said ORG, ORG and ORG of GPE, Total SA of GPE and ORG ASA of GPE -- all bidders in a recent tender to develop reserves in NORP -- would be asked to form a consortium and to give at least a PERCENT stake to NORP companies.
The companies had bid, some individually, some together, to develop QUANTITY of crude oil in LOC in oil-rich northern NORP.
""The philosophy behind investing in NORP oil has changed,"" PERSON said, adding that ORG would hold talks with the companies DATE.
Foreign oil investors are already wondering about the extent to which GPE truly wants outside help in developing reserves in GPE, the world's ORDINAL largest crude oil producer.
Lots of competitive investment dollars have gone to energy-rich GPE and GPE, where deals have got off the ground faster and more smoothly.
But while GPE has said it wants to turn around its flagging oil sector, where output has declined by PERCENT since DATE, its newly-privatised oil companies may not be able to carry the banner.
""The question is, do the NORP companies have the financing for all this,"" said oil analyst PERSON at ORG in GPE.
Some of GPE's vertically-integrated oil companies have the makings of future stars, with savvy management and reserves that put them in the world's big league. But many of them are weighed down by non-payments and corporate taxes that leave them little free cash to invest.
""I don't think the size of stakes (in production-sharing contracts) makes that much difference to Western companies -- what is important is the economics of the deal,"" said oil and gas analyst PERSON of ORG in GPE.
He said it was doubtful whether NORP companies could find the money needed in the near-term to work with foreign investors and that crude oil output levels were, as a result, unlikely to rise significantly.
GPE energy companies have invested MONEY of the MONEY they have said they plan to commit to NORP oil deals, complaining of political and legal risk.
Prominent projects -- including the MONEY international ORG deal, and ORG's MONEY plan with NORP oil group YUKOS to tap PRODUCT reserves -- are beset by quibbles with the NORP over equity stakes, contributions, and asset valuations.
""They're obviously not going to like it,"" said CARDINAL Western analyst of GPE's new approach. ""But I don't know if it will drive them out.""","A big diamond deal between GPE and ORG has been caught up in political manoeuverings in GPE. Bickering ministries and a shake-up in the leadership of the NORP diamond industry are conspiring to delay a crucial agreement.
Senior officials on both sides declined on DATE to predict when the government would sign the long-delayed deal, whose absence has kept world gem markets on edge.
NORP officials said GPE and ORG could head into DATE with no formal contract signed.
PERSON, head of ORG new precious metals and stones section, said the government had been poring over a draft deal for DATE since it said it was about ready to sign it and said unspecified pricing issues needed more scrutiny.
""Yes, I will admit that this (a final signing) could drag out into DATE,"" NORP said after a news conference.
ORG representatives in GPE declined to comment, with one saying, ""As we've told you, when we have something to tell you, we'll tell you.""
A spokesman for ORG, or ORG, ORG partner in the deal and GPE's diamond producer and sole legal exporter, said big shake-ups over DATE in GPE's diamond industry were behind the delay.
""Do you want to know my opinion -- it's that there are some battles going on,"" said ORG spokesman PERSON.
ORG controls about three quarters of the world diamond market and GPE accounts for PERCENT of all the gems ORG sells, so delays to the deal have worried gem watchers.
ARS produces nearly all of GPE's diamonds and had sales of MONEY DATE.
NORP said GPE was committed to working with ORG and that leaving the cartel was out of the question -- but he admitted negotiations had dragged on for DATE because of power struggles in GPE.
""Some have said that we don't need this agreement, but time is playing against us,"" he said. ""There are strict rules on this market and you have to play by them.""
Asked if GPE could leave the cartel, he said, ""No, no.""
NORP said ORG was struggling with ORG for influence over diamond production, while federal budget drafters were arguing with the diamond-rich regions over their cut from taxes paid on exported gems.
ORG has seen GPE's diamond sector go through turmoil DATE, when President PERSON disbanded CARDINAL of its former negotiating partners, ORG, and sacked its head, PERSON.
Now NORP's department is wrangling with ORG, ORG arm that will store and export precious metals and stones. Adding to the muddle is a formal investigation by GPE's tax police into ARS finances.
But NORP said the probe and PERSON were not the fundamental reasons for the delay -- raising questions over just what GPE objects to in the DATE memorandum.
""There are other processes involved,"" NORP said. ""It's a battle of opposing sides. GPE's diamond industry has always been in the hands of several people.""
He cast a cloud over an agreement ORG said on DATE it had signed with GPE's ORG to set up a diamond exploration joint venture.
""We principally insist on the position that foreigners should not mine diamonds in GPE,"" he said, adding that NORP law prohibited the publication or sale of geological information on diamond deposits in the northern LAW region.",1
"A leading NORP dissident has fled to GPE DATE after a colleague in GPE was sent to a labour camp and is reported to be seeking asylum in GPE, government-funded radio said on DATE.
ORG GPE quoted an unidentified source close to veteran democracy activist PERSON as saying he had seen ORG in GPE and he appeared to be in good health.
PERSON, who would be the ORDINAL NORP dissident to escape to GPE via GPE DATE, was expected to arrive there within TIME, a source aligned with the democratic movement in GPE said.
Another GPE source earlier said ORG could leave GPE for GPE as early as DATE night.
PERSON has been missing from his home in the southern NORP province of GPE since fellow activist PERSON was arrested in GPE DATE and ordered to serve DATE in a labour camp.
""The source said Mr PERSON started planning his departure as soon as PERSON was arrested,"" ORG said.
""He confirmed that he had seen the dissident in GPE and that his health was good,"" it said.
ORG had approached members of the pressure group, ORG in Support of ORG in GPE, for help, the radio said.
They in turn had asked the GPE government to help the democracy activist to seek political asylum in GPE, it said. A government spokesman declined to comment.
Dissident PERSON fled DATE following DATE of police harassment at his home in northeastern GPE since his release after serving a DATE prison term as a leader of the DATE student-led demonstrations for more democracy.
PERSON had been active in DATE, sending several daring open letters to the government.
On DATE, ORG joined activist PERSON in issuing a statement urging GPE's communist authorities to honour a promise in DATE to give people freedom of the press and speech and to form political parties and stage demonstrations.
In a bold move, the CARDINAL demanded ORG chief PERSON be indicted, impeached and step down for violating the constitution for saying ORG was under the ""absolute leadership"" of the party instead of the state.
PERSON was paroled in DATE after serving DATE of a DATE term for sedition and remains deprived of his political rights and thus is not permitted to issue such public statements.
ORG, CARDINAL of GPE's most outspoken proponents of democracy, began his activities in DATE when he has CARDINAL of CARDINAL authors of a renowned pro-democracy article that was pasted up as a wall-poster in GPE, capital of GPE.
PERSON and his CARDINAL co-authors served DATE in jail for his audacity in challenging the authoritarian rule of Chairman PERSON but was released in DATE.
DATE he took part in the Democracy Wall movement in GPE, but was not arrested until DATE.
His reported escape comes amid a renewed crackdown on GPE's tiny, struggling democracy movement.
Detained dissident and former student leader PERSON faces the capital charge of plotting to subvert the government in a trial that could take place DATE based on evidence such as writings critical of the state and accepting funds from abroad, a human rights group said.","PERSON global media group, ORG, on DATE reported an PERCENT fall in net profit for DATE of CARDINAL, in stark contrast to market expectations of a healthy rise.
But analysts said PERSON's forecast DATE at ORG DATE meeting that the group would achieve a profit lift of PERCENT for DATE was still possible.
The film, television, publishing and newspaper conglomerate reported net profits of MONEY (MONEY) for DATE, down from MONEY DATE.
Analysts had forecast net profit before abnormal items would be around A$320-330 million, up PERCENT.
Net profit before abnormals came in at MONEY.
The poor result caused ORG shares to fall sharply and dragged the whole NORP share market lower.
The share price fall wiped MONEY of the group's market capitalisation. The stock closed MONEY or PERCENT lower at A$MONEY with over CARDINAL shares traded.
The weaker profit was a result of poorer returns in GPE TV, NORP newspapers and book publishing, ORG said.
""This is not as people were expecting type of result. It was a very flat result,"" CARDINAL GPE-based media analyst said.
ORG could still report a PERCENT rise in net profits for DATE as it was only the GPE television business that was clearly below forecast, analysts' said. They said this forecast by PERSON was in GPE dollar terms.
In GPE dollar terms, ORG operating income was PERCENT higher in DATE.
""Basically, what News has said is DATE was a bit disappointing but you are still going to get your growth for DATE,"" CARDINAL GPE-based analysts said after taking part in an analysts' conference telephone call with ORG
ORG said its profit was mainly bolstered by the worldwide box office success of the science fiction movie EVENT and its NORP newspapers and book publishing.
EVENT, a film about invading aliens who launch an attack against the LOC from huge space ships, has grossed MONEY worldwide, making it the ORDINAL highest-grossing film in box office history.
NORP newspaper operations enjoyed strong growth with an PERCENT gain in operating profits in DATE, ORG said. The ORG, The Times and ORG newspapers all posted gains in both advertising and circulation revenues in DATE.
""Additionally, the group has benefitted from reduced newsprint costs,"" the company said.
""Offsetting these gains were weaker results in GPE television, NORP newspapers and book publishing, which lacked results from the educational division which was sold in DATE,"" it said.
News also said continued losses for its NORP satellite broadcaster, ORG, were in line with expectations.
The fall in profit in NORP dollar terms also reflected the stronger local currency against the GPE dollar as PERCENT of ORG revenue is in GPE dollars.
DATE profit drop follows a profit dip for ORG in DATE, when it reported a PERCENT fall in pre-abnormals net profit to MONEY.
(A$MONEY = $MONEY)",0
"ORG, furthering its quest to supply complete car interiors, said DATE it agreed to buy the instrument panel and trim parts unit of GPE-based ORG.
Lear said it signed a memorandum of understanding to acquire ORG for undisclosed terms.
Based in GPE, GPE, GPE manufacturers instrument panels, door panels, climate systems, exterior trim and various other components for the NORP car and truck industry.
PERSON had DATE sales of MONEY and owns CARDINAL plants in GPE that employ CARDINAL people.
Primary customers for the business include NORP carmakers ORG and ORG and truckmaker ORG.
PERSON is owned by NORP state-controlled oil and energy group PERSON and NORP state-owned oil group ORG.
Completion of the transaction is subject to approval by the NORP competition authority and other conditions.
Lear said the acquisition supports its strategy of having in-house capability to provide total automotive interior systems, including instrument panels.
""Not only does this acquisition strengthen relations with our NORP customers, but it positions Lear as the only independent automotive supplier in the world with in-house capabilities in all CARDINAL interior systems -- broadening the appeal of our already strong CARDINAL-stop-shopping competitive advantage,"" Lear Chairman PERSON said in a statement.
The deal is the latest of a series of consolidation moves in the automotive interior market. Lear DATE purchased carpet and floor-mat maker ORG for MONEY, and DATE bought door panel and console maker ORG for MONEY.
Lear's GPE operations include the manufacturing of a wide range of automotive interior components.
The company's stock was unchanged DATE at $MONEY a share on ORG.
Lear's competitors are also pursuing the same acquisition strategy.
ORG, which has a strong seating business, recently acquired interior parts maker Prince Automotive, based in GPE GPE, for MONEY in cash.
GPE's ORG, CARDINAL of EVENT"" automotive interior firms along with Lear and PERSON, recently acquired seat maker PERSONamp; ORG for MONEY.","ORG and ORG union reached a tentative agreement early on DATE for a new national labor contract, ending months of contentious bargaining.
""I think we said back in DATE that it would be a difficult negotiation, and I think we fulfilled that expectation,"" said a visibly tired ORG Chairman PERSON. ""Like any negotiation, you never get everything you want.""
The DATE deal, which covers CARDINAL DATE ORG workers, will not end local strikes that started on TIME in GPE and GPE, where local grievances remain unresolved, ORG President PERSON said.
He also held out the threat of additional strikes among ORG's CARDINAL ORG locals that have not yet reached plant-specific agreements with the automaker.
""I would suggest that the company work hard and get their locals cleaned up,"" ORG said. ""Quite frankly the CARDINAL that walked out have a heavy agenda on the table and they have a lot of work.""
Yokich declined to say when the agreement would go to rank-and-file members for ratification, but CARDINAL local leaders from ORG plants around the country would meet in GPE on DATE to consider the pact.
Instead of the traditional joint statements and handshakes between company and union officials, PERSON insisted that the CARDINAL sides hold separate news conferences to announce the agreement shortly after TIME PERSON (CARDINAL ORG) DATE.
Details of the agreement were not released, but PERSON, vice president of personnel, said it fits within the pattern that the ORG set at ORG and ORG
Both of those companies agreed to guarantee jobs for PERCENT of their current TIME workforces.
""The ORG presented its objectives to us and we talked about the objectives that we had and we found a way to address those within the pattern that was so important to the ORG,"" he said, adding that the deal allows ORG to make competitive improvements.
The talks were said to hit several snags over DATE over several plants that ORG wanted to exclude from the PERCENT employment guarantees. Among those were a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that ORG has put on the sale block.
The proposed exceptions to the pattern were aimed at allowing ORG, the least efficient of GPE's Big Three automakers, to cut costs and boost productivity.
Although all CARDINAL of the companies pay a base wage of MONEY an hour, ORG and ORG buy more of their parts from lower-cost outside suppliers than ORG does. ORG wanted the ability to ""outsource"" more of its parts work.
Economic provisions of the ORG contract were expected to follow those at ORG and ORG, offering workers a $MONEY bonus in DATE of the contract, followed by PERCENT increases in base wages during DATE.
The deal came as ORG's production losses due to strikes at a metal stamping plant in GPE and a truck plant in GPE, GPE, mounted on DATE.
By DATE, CARDINAL workers at CARDINAL plants were idled, including CARDINAL strikers in GPE and CARDINAL in GPE.",1
"Faced with persistent market rumours that it is on the verge of collapse, ORG went public on DATE to say that any such talk is ""totally groundless"".
""In the markets, unsourced rumours such as the suggestion that our bank is practically on the verge of collapse are circulating and are prompting sales of our shares and debentures,"" NCB vice president PERSON told a hastily convened news conference.
""Such rumours are totally groundless and our bank would like to declare that these rumours are not true,"" he said.
Finance Minister PERSON also came out in support of long-suffering ORG, whose failure could spark a crisis in the banking industry.
He said the government will fully support the bank, although he added that the ministry is not worried about the financial health of ORG, the smallest of the nation's CARDINAL long-term credit banks.
""The ministry has had no worries about the bank. It (the bank) is doing its utmost to improve its management. We don't believe that the bank will collapse as some media reports have said,"" PERSON told reporters at his regular news conference.
ORG latest ordeal began DATE when traders began to sell its shares on vague talk that NCB would hold an emergency news conference. There was also a vague rumour about a possible merger involving ORG, they said.
The dumping of the bank's shares ignited renewed selling throughout the banking sector. The sharp fall in banking shares has been largely to blame for the tumble in the GPE stock market since DATE.
ORG shares fell MONEY (MONEY) to close on DATE at an all-time low of MONEY ($MONEY).
In the bond market, ORG's latest debentures are selling at a yield of PERCENT, a full CARDINAL percentage points above bonds issued by other banks, reflecting the perceived risk in its debts.
Nishikawa said the sell-off was influenced by exaggerated media reports which hyped concerns over the health of GPE's financial system.
""We believe the market condition has deviated greatly from the realities of the bank. We hope market participants will calm down,"" he said.
He also said the bank would be able to post a current profit in CARDINAL even after disposing of problem loans as it had planned -- if GPE stock prices remain at their current levels.
Like other banks, NCB relies on its own share holdings to help provide needed cash so as the stock market tumbles, its situation worsens. That has created a vicious circle for the GPE stock market.
The bank plans to write off problem loans of MONEY (MONEY) in DATE. As of DATE, such problem loans totalled MONEY (MONEY).
Some analysts said that it is unclear whether the news conference by ORG and the finance ministry's pledge to support the bank would help regain confidence in GPE's banking sector.
""In the long-term, the banking sector will remain under pressure until GPE completes its 'Big Bang' financial reforms,"" said PERSON, an analyst at ORG. (MONEY)","GPE is expected to lift controls on stock-related derivatives as part of a drive to free up its financial markets, but industry sources have doubts about whether the products can really take off here.
The securities industry sources said GPE was lagging so far behind overseas rivals, including GPE and GPE, that it would be extremely difficult to make a viable and attractive market for stock-based derivatives in GPE.
On DATE, Prime Minister PERSON announced a DATE ""Big Bang"" plan to liberalise the nation's markets and catch up with reforms carried out DATE in rival financial centres like GPE. The aim is to make NORP markets ""free, fair and global"".
As part of that push, PERSON asked for a review of laws relating to derivatives transaction, which currently restrict stock options to those based on indices, rather than on individual stocks.
But even before EVENT"" announcement, GPE's ORG (ORG) had already been looking at lifting restrictions on stock options and equity swap transactions.
A trader at a foreign brokerage said that NORP participants are already used to offshore trading in derivatives, avoiding the tightly regulated NORP markets, and it may be hard to generate interest here.
""It is too late to induce market enthusiasm,"" he said. ""Even if the finance ministry deregulates (stock-related) derivatives trading in GPE, it might be difficult to make GPE markets attractive,"" he said.
An official at the ministry told ORG recently that it plans to decide whether to allow the introduction of a variety of stock-related derivatives transactions after an advisory panel delivers its recommendations DATE.
While GPE introduced stock index futures and options in DATE, the ministry has taken a particularly cautious approach to derivatives of individual stocks in order to concentrate equity-related deals on stock exchanges.
Options, which are usually used to hedge against losses due to price fluctuations, allow the holder to buy or sell a specified amount at an agreed price during a set time period.
An analyst at a big brokerage said that the securities industry and the GPE and GPE stock exchanges have made preparations to list individual stock options and are ready to start as soon as the ministry gives the go-ahead.
Such options on individual stocks were introduced in DATE in the GPE and NORP markets.
Big NORP brokers also want to offer stock options which can be traded directly between investors and traders without any stock exchange involvement, he said.
Up until now, trading of individual stock options and equity swap transactions was banned as this was judged to violate the Criminal Code outlawing gambling.
This has pushed lucrative business offshore to less regulated markets, where brokers are able to trade options or warrants based on NORP stocks if they wish. Market sources say GPE may have to revise the law to clear the way for such derivatives trade.",1
"NORP Foreign Secretary PERSON met future GPE leader PERSON on DATE for the ORDINAL time since GPE was chosen but failed to narrow the gulf between the territory's outgoing and incoming governments.
Tung, a shipping magnate anointed by GPE in DATE, told reporters after the talks that GPE had not budged in its refusal to aid a provisional legislature that GPE would install when the NORP leave DATE.
""On the work of the provisional legislature, I've urged the GPE government to give assistance and help,"" Tung said.
""GPE's position has always been clear, but I hope they will reconsider.""
GPE argues that the formation of the provisional legislature, set up by a GPE-appointed panel to replace the elected chamber, is illegal under the terms of the DATE NORP handover treaty on GPE.
GPE reverts to GPE at DATE.
Rifkind's brief visit, perhaps his last to GPE before the flag comes down on DATE of NORP colonial rule of the territory, was cut short to let him return early to GPE for a key vote in ORG on the ""mad cow"" crisis.
A loss could trigger a vote of no confidence in the ruling ORG, which is lagging in the polls. But GPE LOC, miffed that PERSON was putting domestic concerns ahead of GPE problems, headlined its DATE editorial: ""When mad cows matter more than GPE"".
GPE is to hold a general election before DATE, and it is not known who will be at the helm at the time of the handover. But whoever holds the foreign secretary's portfolio in DATE of the countdown can be assured of a bumpy ride.
With DATE to go until the transition, GPE is awash with conflicting emotions that have pitted the pro-Beijing and pro-democracy camps against each other and sparked acrimonious exchanges.
Tung DATE hit out at ORG, accusing it of blackening GPE name overseas by spreading doomsday predictions about the loss of freedoms.
He argued that GPE economy was buoyant, its people upbeat, and described GPE's plans as mere technicalities.
His comments have hit a raw nerve with the vocal pro-democracy movement in GPE, which argues that a tide of opinion has been rising against what they describe as ORG's increasingly authoritarian policy statements.
""This is just the beginning. The way things are going, PERSON and his government-in-waiting will be running out of popularity long before DATE,"" pro-democracy lawmaker PERSON wrote in a newspaper column on DATE.
""Mr Tung's ship of state is charting a decidedly retrogressive course,"" she wrote. ""Confidence may yet be restored provided this paranoia about democracy is put aside.""
Another symbol of GPE NORP heritage passed into the history books during PERSON's visit.
The DATE FAC, given its ""royal"" prefix by King George V in DATE, dropped the royal coat of arms from its emblem. Its new logo has spiralling cloudbanks symbolising typhoons, the fierce storms that periodically pound GPE.","NORP building materials group ORG produced the ORDINAL tentative signs of a turnaround at its troubled NORP heating operations on DATE and set out ambitious plans for a QUANTITY increase in operating profits at the division over DATE.
The recovery in the heating sector, together with continued strong performance in the highly profitable GPE and GPE markets and the GPE, helped lift ORG interim pretax profit by PERCENT to MONEY (MONEY), at the top end of analysts' forecasts, with the interim dividend rising by PERCENT to MONEY.
The heating operations, which are undergoing a major restructuring focused on GPE, GPE and the GPE, posted operating profits of MONEY in DATE, up from QUANTITY a year before.
However, GPE's biggest cement producer also warned that it sees ""no significant signs of recovery"" in the key NORP cement market, and against a backdrop of a weak stock market ORG shares slipped MONEY to MONEY by DATE ORG.
ORG chief executive PERSON told ORG the group's aim of achieving DATE cost savings of MONEY from restructuring heating is ""well up to programme,"" with MONEY coming through DATE and the full benefit seen in DATE.
ORG said he is confident the group can achieve a PERCENT return on its QUANTITY investment in the struggling division, or QUANTITY, within DATE, despite sluggish economic performance in GPE and GPE.
""We are disappointed with the performance of the economies of both those countries, and we think it is not likely to ease very rapidly,"" said ORG, adding ""that is why we set a DATE time horizon"" for recovery.
ORG blamed a PERCENT drop in operating profit at the NORP cement operations on low infrastructure investment and ""weak new housing starts."" ORG said DATE outcome will be better than DATE, but he does not expect any real upturn until DATE.
With gearing a miniscule PERCENT at DATE, ORG confirmed PRODUCT is actively looking for opportunities to expand.
""We'd like to grow our cement business: it depends on where the opportunities crop up. In the GPE it's a question of waiting for the right opportunity and the right time in the cycle,"" he said.
ORG is ""actively looking in LOC, and we are taking a very careful look at GPE,"" he said, adding that it is also interested in expanding its south NORP operations beyond the fast-growing GPE market.
($MONEY Pound)",0
"The growth of the Internet has created the biggest creative explosion in the history of the computing world, said ORG chairman PERSON on DATE.
""It is only been since we unleashed the Internet that you have suddenly seen this unleashing of technology and innovation and research and a transformation,"" PERSON told ORG in an interview.
GPE cited the launch of ORG browser and his company's PERSON computer language that allows users to operate across all computer operating systems as examples of recent computer innovation.
The Internet and PERSON is likely to pose the biggest threat to GPE software giant ORG, said GPE, who is on a DATE visit to NORP and GPE along with CARDINAL ORG employees, who are in GPE attending a sales convention.
""Its CARDINAL main CARDINAL sources of revenue, (ORG (software) and the desktop operating system are under threat,"" said GPE, who is well known for firing salvos at PERSON, ORG's co-founder.
ORG and ORG are locked in many battles across the fiercely competitive computer industry. ORG has DATE revenues around MONEY, while ORG has revenues of MONEY a year.
GPE said PERSON users could operate in all operating systems including Windows, while the Internet and PERSON allowed users to download word processing applications without buying ORG's popular ORG software.
""The Internet has forced them (ORG) to change their strategies,"" said the DATE computer millionaire.
ORG unveiled plans on DATE to relaunch its online service ORG (ORG) with a MONEY promotion push in order to double ORG's subscriber base. But GPE said this showed another Internet strategy shift by ORG.
""Do you know what the Internet has done to our business? Absolutely nothing, we haven't changed our strategy one bit,"" said GPE, who is on his ORDINAL visit to GPE.
Java, which was developed by PERSON and launched in DATE, is a language that specialises in letting a wide range of computers share information with each other through networks.
Those capabilities are in themselves a threat to dominant players like ORG, whose ORG and family of Windows operating systems run on PERCENT of the world's PCs, industry sources said.
ORG has already licenced its PERSON technology to most of the world's computer industry, including ORG.
GPE sees no threat from selling ORG's PERSON technology to its competitors. ""We don't own the language, we compete by doing something better in the language. It is like trying to own the LANGUAGE language, you compete by what you do with the language.""
Java computers, known as ORG, would be launched soon, which GPE likened to the launch of the car. ORG is the ORDINAL wave in the evolution of the computer, GPE said. The ORDINAL was the mainframe, with the ORDINAL wave being the personal computer, he said.
""We will still have buses and trains, which work on centralised systems like the mainframe. We will still have bicycles, which are like PCs, but the preferred mode of transportation for most of us is the automobile, which will be ORG,"" PERSON said.","GPE, the world's biggest copper exporter, hopes to forge close trade and technical support ties with GPE, the world's biggest copper importer, Deputy Minister of Foreign Affairs PERSON said.
""There is NORP interest in participating in some mining projects in GPE, and we have an interest in participating in service and technology in copper mining in GPE,"" PRODUCT told ORG in a recent interview.
Of GPE's total DATE mining exports worth MONEY, MONEY was earned from selling copper to GPE, he said.
""It is not only potential ... this is reality,"" he said. ""If we look ahead, there are some forecasts that in DATE we will produce CARDINAL of the world's total copper.
""But looking at MONEY (NORP) people and the rush for development in GPE, we should not exclude GPE as a very important client for NORP copper.""
GPE, with PERCENT of world copper reserves, mined QUANTITY of the red metal in DATE, far ahead of its closest rival GPE, with CARDINAL, and ORDINAL placed GPE with QUANTITY, NORP figures show.
Copper accounted for PERCENT of GPE's total exports in DATE of MONEY, the figures show.
GPE's DATE demand for copper has been officially put at QUANTITY.
Its copper imports for DATE were expected to be QUANTITY, the president of ORG, PERSON, said in DATE
Trade and industry sources have speculated recently about GPE's interest in buying copper properties in GPE, along similar lines to recent investment by major NORP corporations in GPE's iron ore industry.
But CARDINAL source with a major regional producer said the high price of NORP copper mines, combined with a cash squeeze in GPE and the poor international reputation of NORP buyers, would keep NORP producers reluctant to forge long-term ties.
""I don't see GPE guaranteeing long-term supply contracts,"" the industry executive, based in GPE, said.
""It is not the way they work because if the prices fall, they are then very reluctant to pay,"" he said. He was referring to the practice of some NORP importers of refusing to pay for commodities if the price falls between order and delivery.
Fernandez did not elaborate on the details of cooperation GPE was hoping for with GPE. ""We are at the beginning (of discussions),"" he said.
He was in GPE after a DATE trip to GPE where he met with senior NORP officials, including Minister for Foreign Affairs PERSON and Minister for Foreign Trade and Economic Cooperation Wu Yi.
The purpose of his visit was to lay the groundwork for a visit to GPE on DATE and CARDINAL by NORP Premier PERSON, he said.
Fernandez said he asked NORP officials to consider recognising GPE as free of LOC fruit fly, as GPE had already done, and free of foot-and-mouth disease.
""The NORP dream is to sell CARDINAL apple, CARDINAL bunch of grapes and CARDINAL bottle of wine DATE to every NORP person,"" he said.",0
"PERSON cocoa shipments from GPE will more than double to QUANTITY in CARDINAL, solidifying a cost-cutting trend sparked by recent trial shipments, exporters and shippers said.
""NORP shipments will reach QUANTITY DATE (CARDINAL),"" said CARDINAL trader, with most going to large GPE-based buyers. ""And that is only a start."" he added.
PERSON shipments include beans stuffed directly into containers or poured loose into ship's holds, replacing traditional stacks of QUANTITY jute bags.
PERSON would ship QUANTITY in bulk DATE. The world's largest producer blazed the trail by shipping QUANTITY in CARDINAL as bagged cocoa lost favour with large buyers, said the source.
Of this DATE's total, QUANTITY would be shipped for CARDINAL GPE-based clients out of an expected crop of QUANTITY, said the trader.
CARDINAL, QUANTITY, would be shipped loose on holds against the same tonnage for all forms of bulk shipments in CARDINAL. The remainder would be leave in QUANTITY bag-lined containers packed with drying agents.
Additional shipments of QUANTITY for trials to GPE, and less for LOC ports would take the total of both bulk methods to QUANTITY.
GPE is also expected to build on small shipments with QUANTITY possibly leaving in DATE. PERSON from GPE and GPE are widely expected to rise.
Little was shipped in bulk from other NORP ports DATE but shipping companies say that will change.
NORP transporters PERSON completed CARDINAL successful trials from GPE in CARDINAL totalling QUANTITY followed by QUANTITY for processors PERSON and PERSON.
The loading and shipment methods developed then has prompted an expected PERCENT plus jump in overall regional tonnages for CARDINAL, say shippers.
Shipping lines NORP, ORG Maritime Belge (ORG) and PERSON (ORG) are already taking bulk cargos from forwarders SAGA and PERSON, and NORP exporters/forwarders PERSON and SIFCA.
""Each have loading systems (total of CARDINAL in GPE and San Pedro (GPE ORDINAL port) but only direct users have reception facilities,"" a GPE region shipping manager said. ""Not everyone has QUANTITY a DATE capacity plant with storage facilities,"" he added, referring to large processors in GPE.
""In future, PERCENT of all cocoa will leave in bulk,"" said CARDINAL shipping manager, depending on the size of the reference crop
The manager of another shipper handling large volumes put the figure at PERCENT by DATE for GPE.
""The economics are simple. What used to be shipped in CARDINAL containers is now shipped in CARDINAL,"" he said, or CARDINAL tonees per QUANTITY containers.
Shipping companies had gained a PERCENT freight space saving and exporters would expect rebates in return, he said.
A typical charter on ORG (free in and out, stowed) rates would be MONEY, with another 25 dollars in handling to be added depending on terms, said CARDINAL shipping line.
The marginal cost of loading a container was CARDINAL CFA a tonne with CARDINAL CFA for positioning a container, but labour and time savings more than compensated. Conveyor belts, silos and tip-up containers are all used for loading.
Plans to build a new bulk reception warehouse in GPE unveiled by ORG (ORG) president PERSON on DATE would encourage bulk cocoa advocates, said local exporters.
-- Abidjan newsroom + 225 21 90 90","CARDINAL ORG group asset management firms said on DATE that they would merge DATE to create a top player with a competitive edge on rivals in GPE's rapidly growing market.
The planned merger of ORG (ORG) which manages corporate pension funds and other large funds, and ORG (NSITM) which manages investment trusts for individuals -- similar to mutual funds -- would yield CARDINAL of the world's biggest asset management companies, with total assets of MONEY (MONEY) under its care, analysts said.
ORG president PERSON told a news conference that overlapping operations at the CARDINAL firms would be streamlined to sharpen the new company's competitive edge as GPE implements broad financial reforms targeted for completion by DATE.
DATE, Prime Minister PERSON unveiled plans for a DATE ""Big Bang"" to liberalise GPE's financial markets and recoup GPE's status as the key financial centre.
Among PERSON's proposals was a call to make effective use of individual financial assets which now total MONEY (MONEY).
""We would like to form an internationally competitive system because regulations on asset management are being lifted (in GPE), ORG said.
Getting good returns on those assets is increasingly vital as GPE confronts a rapid rise in the proportion of elderly people in its population, analysts said.
Foreign rivals are also keen to cash in on the expected growth in GPE's pension fund and investment trust markets. PERSON, president of ORG, said DATE, ""One of the things I think is exciting is the potential mutualisation of the savings base in GPE.  We're not alone there -- everyone else is excited by that.""
GPE mutual fund giant ORG also plans to enter the NORP market in a big way DATE and hopes to lure NORP investors now fed up with ultra-low returns by making available its unique U.S.-style services.
An industry source said that outstanding mutual funds in GPE total QUANTITY (MONEY) in GPE compared to MONEY (MONEY) in GPE.
""The figures show GPE's investment trust market has the potential to grow much bigger,"" the source said.
Some analysts dubbed the planned merger a natural attempt to boost efficiency, but others warned that achieving that goal was not necessarily assured.
""ORG's asset management companies have already been big compared with competitors, and it is questionable whether they will be able to boost performance through the merger,"" said an official at an overseas-based investment advisory firm.
""Generally speaking, fund managers at NORP companies are conservative,"" he said. ""They tend to avoid investment risks because they see the risks, which are short-term volatility, as something dangerous. But experienced foreign advisors are well-qualified to manage pension funds as they take reasonable risks in long-term pension fund management.""
PERSON, president of NSITM, meanwhile, said the merged company would not cut jobs and in fact might increase its workforce later to improve the quality of asset management and research. (MONEY)",0
"The NORP government sold a PERCENT stake in oil major ORG on DATE, raising MONEY (MONEY) and allowing the energy group to buy back a big chunk of its own shares.
The disposal follows a sharp rise in the GPE bourse in DATE and, specifically of oil stocks which have benefited from high world oil prices.
""Finance minister PERSON has decided to sell CARDINAL shares in ORG held by the ORG company, which will reduce the stake held by this public sector firm in ORG to PERCENT,"" the ministry said in a statement.
The sale involved the placement of CARDINAL Elf shares, or PERCENT of the capital, at MONEY per share to NORP and international institutions.
Elf said in a separate statement it had bought a PERCENT stake through its indirectly-owned financial ORG company as a long-term investment, accounting for the remainder of the shares sold by the state.
Elf shares slipped MONEY to CARDINAL by CARDINAL ORG.
The MONEY will go into a government special account held for share sale proceeds, which is reserved for injecting into other state-owned companies, the ministry said.
Government spokesman PERSON said the money would be used to recapitalise state-owned companies which needed it, particularly those being privatised.  It will not be used to help reduce the government's budget deficit.
GPE plans to recapitalise ORG to the tune of MONEY before selling the state-owned electronics group to ORG and ORG
The Elf share sale leaves a rump PERCENT of Elf stock in government hands, which covers free shares due to Elf employees and non-voting petroleum certificates held by the state.
Elf was among the early privatisations in the previous conservative government of PERSON in DATE (Corrects timing of Elf privatisation), when it was floated at MONEY per share to private investors.
The group has wide-ranging interests in oil exploration, production and refining, as well as health and beauty products through its ORG unit.
It is a major constitutuent in the GPE CAC-40 share index.
The group's stock purchase would boost earnings per share, chairman PERSON said: ""This removes the uncertainty surrounding the NORP state's interest in the company which has weighed on the share price.""
""The acquisition will automatically improve earnings per share,"" he said in a company statement.
The sale to institutions was handled by ORG and SBC GPE, after a tender with various banks. PERSON acted as adviser to the government.
Fingestval is a wholly-owned subsidiary of ORG, which itself is wholly-owned by Sofaxbanque. Sofaxbanque is PERCENT owned by ORG. Socap manages assets and financial interests and has substantial cash holdings, ORG said. (MONEY)","Troubled ORG operator ORG is due to release DATE results on DATE but analysts said any attempt to forecast the figures was futile, given the uncertainties over its debt restructuring.
""Everything depends on resolving the financial situation. If they announce a good figure...that might help, but it's really a face-off between the company and the bankers,"" PERSON, analyst at brokerage PERSON said.
Eurotunnel needs to agree a refinancing of its MONEY bank debt by DATE, having asked in DATE for CARDINAL court-appointed mediators to stay on to negotiate a deal with its some 220-strong bank syndicate.
GPE said it was hard to forecast results due to ""dumping"" in the price war between ORG and ferry companies as they battle for a share of cross-Channel traffic between GPE and GPE.
""It's not a stock that you can take a view based on DATE figures, especially as DATE comes before DATE,"" CARDINAL analyst said.
However, CARDINAL analyst at a large NORP brokerage said he had a rough forecast of a MONEY (MONEY) net loss and an operating loss of CARDINAL.
ORG operator posted DATE sales of MONEY, up from CARDINAL DATE. It made a net loss for DATE of MONEY on turnover of MONEY.
The headline figures will likely be flattered by the fact that PERSON did not have all its services running DATE, said PERSON, head of research at debt specialist PERSON and Co in GPE.
Stripping out the minimum usage fee that the railway operators pay, he expected a PERCENT improvement in the underlying results from DATE.
In sterling terms, Summers has pencilled in QUANTITY (MONEY) pretax, pre-interest loss versus CARDINAL DATE. With benign currency movements, it may break even.
Operating cashflow should at least double to CARDINAL sterling before interest and capital expenditure, compared with CARDINAL.
""Everything is going in its favour,"" Summers said. He cited the NORP government's recent decision to allow cooperation between ferry companies to pool their capacity and ORG decision not to extend the duty-free sales regime beyond DATE.
Pooling by rivals such as P&O and Stena would lead to ""a reduction in direct competition"" for ORG, while the loss of duty-free sales, representing CARDINAL sterling of soft subsidies for the ferries, would push ferry firms to raise ticket prices.
Eurotunnel could then raise its prices and boost turnover.
The cross-Channel market has also grown much faster even than ORG forecast, with traffic up PERCENT DATE and estimated growth of PERCENT DATE, ORG said.
PERSON, head of the ORGamp; ORG (ORG) group which runs the ORG high-speed train concession, has forecast it will hit CARDINAL passengers in DATE CARDINAL and CARDINAL in DATE.
If that happens, PERSON could receive revenues above the minimum usage fee as higher service levels trigger extra payments. ($MONEY French Franc) ($MONEY Pound)",1
"GPE's Foreign Minister PERSON was greeted by angry protesters on DATE when he arrived to open a historic meeting to choose GPE future leaders.
Police scuffled with demonstrators when they blocked access to ORG, where GPE will formally return its colony to GPE in DATE.
PERSON will preside over the CARDINAL-member ORG, which began its DATE mission to select the Chief Executive and CARDINAL members of a replacement legislature.
A group of CARDINAL police surrounded a handful of student activists and herded them towards barricades where other protesters were sequestered. Many had spent TIME on a protest fast outside the building.
GPE pro-democracy lobby has attacked the process and refused to take part in the selection committee which they have branded as undemocratic.
They are adamantly opposed to GPE's plan to dissolve the elected legislature and replace it with an interim provisional chamber until new elections are staged.
CARDINAL student was pushed to the ground before being hauled over the barricades into the cordoned-off area by other protesters. ""I am very frightened,"" the university student said. ""I don't know why they pushed me.""
Waving banners and using loud hailers, CARDINAL demonstrators chanted ""We want a directly elected legislature"" and ""We reject the deterioration of democracy"".
Police flung themselves against the barricades to hold back surging demonstrators, some of whom held up a large black box.
""This is a coffin. It represents the death of democracy and freedom in GPE,"" CARDINAL demonstrator said.
Members of ORG had planned to pass a letter to PERSON but were unable to get past police lines.
""We hope you would exchange views with GPE people on the setting up of the ORG legislature and selection of ORG,"" the letter to PERSON said.
ORG is due to hold a ORDINAL round of voting on DATE to narrow down the list of candidates to step into the shoes of colonial governor PERSON when NORP rule draws to a close at midnight on DATE.
To enter the final run-off for the job, a candidate must be nominated by CARDINAL members of the committee.
CARDINAL business magnates and CARDINAL former judges are regarded as the frontrunners in the race.
ORG meets again on DATE to pick the winner.","A sudden crackdown on GPE's fledging stock markets pushed most shares to limit-down levels on DATE and triggered an outcry from securities brokerages and retail investors.
ORG, mouthpiece of ORG, said in a commentary on DATE that the country's stock markets had overheated on widespread speculation and warned that GPE would not step in to help if the stock markets plunged.
Virtually all shares on the GPE and GPE stock markets fell PERCENT, the DATE limit announced by the authorities DATE TIME to prevent sharp fluctuations.
""This is very, very disappointing and outrageous,"" said CARDINAL local stock analyst. ""With this simple decision they can wipe out nearly all the gains in the securities business in DATE.""
""I can't understand it,"" said a trader. ""Such administrative edicts will eventually kill the markets one day.""
Analysts said they were shocked by the sudden change of direction by officials in GPE.
Since DATE there have been many official statements, messages and hints indicating clearly that the stock markets had the official blessing of GPE.
GPE's foreign currency B share market in GPE soared by PERCENT DATE while the bourse in the southern boomtown of GPE rose by PERCENT before sharp falls in DATE.
GPE's A share index had surged PERCENT and GPE's A share index PERCENT since DATE.
""They had been talking about encouraging stock invesment and suddenly here comes the new policy,"" said a retail investor. ""Most of us will have our money caught in the markets. It looks like prices will plunge and no one wants to buy.""
Foreign brokers and analysts also slammed the sudden official intervention, saying it went counter to the trend in GPE of gradually allowing market forces and controls to play a greater role.
""Foreign investors will not welcome such administrative interference in the markets,"" said a GPE-based brokerage analyst. ""What is worse is that it seems from ORG editorial that they wanted to force prices down.""
GPE's domestic A share index plunged PERCENT to CARDINAL points and the foreign currency B shares fell PERCENT to CARDINAL points.
In GPE, the B share index dived PERCENT to CARDINAL, and the A share index also PERCENT to CARDINAL.
Brokers and analysts said they expected PERCENT limit-down day for the markets on DATE, with virtually no buyers in sight, and a great sense of unease amongst investors about how quickly the market can be turned by officials edicts.
""For ORG shares, tomorrow will be PERCENT, but on DATE it may be less,"" said another foreign brokerage analyst. ""Buying interest is very limited.""
""Panic selling occurred in many securities trading halls in major brokerages,"" said CARDINAL trader. ""But nobody wants to buy. Investors believe current prices are very high taking into account the changed market fundamentals after the crackdown.""
A ORDINAL trader said market confidence was destroyed. ""We can see no support for the time being,"" he said. The B index is likely to head for a historical low at around 45 points shortly.""
In GPE, local brokers said most GPE-listed stocks were likely to register limit-down closes over the next few sessions as investors have been intimidated by ORG commentary.
""They could have adopted other measures such as an effective ban on widespread illicit trading by institutional punters to cap share prices,"" a GPE trader complained. ""Instead, this method sacrifices many innocent, small investors.""
Many investors, including institutions, were sitting on heavy losses on DATE's fall and investor confidence was unlikely to recover over the short term, brokers said.
(MONEY)",0
"NORP PERSON published further evidence on DATE that its cancer drug Marimastat works, but analysts said there was still a long way to go before its potential as a blockbuster can be confirmed.
NORP Biotech's shares ended DATE MONEY lower at PRODUCT after its keenly-awaited announcement appeared to provide comfort for both bulls and bears.
Some forecast that ORG, a new class of cancer drug, could DATE have sales of MONEY a year and make NORP Biotech a FT-SE CARDINAL company.
But some analysts said presentations on the drug's effectiveness in gastric, colo-rectal, ovarian and pancreatic cancer to a science conference in GPE were just a rehash of data published in DATE, which sent the share price soaring to record levels.
""Those who were sceptical in DATE will remain sceptical and those who were bullish in DATE will remain bullish,"" said CARDINAL.
Finance director PERSON told ORG the company had been deliberately cautious about its statement on DATE, because it was ""extremely concerned not to raise patients' hopes of the drug.""
But he said there was ""significant"" evidence that ORG increased the chances of survival in cancer patients and added ""in many ways I think it is the most impressive data since the company was founded.""
The studies, based on CARDINAL cancer patients who continued taking the drug after the DATE period required for ORG trials, confirmed ORG's ability to reduce the rate of rise of cancer antigens, CARDINAL measure of how much cancer is present in the body.
""Those patients who continued to take it for DATE lived...significantly longer"" than those who stopped taking it, ORG said.
One of the bulls of the drug, PERSON analyst PERSON, agreed, saying that ""on this information DATE we can say that...PERCENT (of patients) had a real overall response which improved their survival chance significantly.""
But others expressed disappointment that NORP Biotech failed to provide more detailed analysis of side effects caused by ORG. The ORG-based group confirmed it caused joint pain, mainly in the arm and shoulder, with PERCENT of patients affected after DATE.
ORG analyst Erling Refsum said the side effect profile will be crucial to ORG's potential.
""Drugs become top sellers because of their side effect profile rather than because of their efficacy profile,"" he said.
Noble played down concerns about side effects, saying: ""They are not a serious problem. They are reversible.""
He said patients who suffered badly could interrupt their treatment from time to time without adverse impact.
Analysts said credible estimates of exactly how big ORG will turn out to be would be impossible until final, Phase III trials were completed.
This means investors will have to wait until DATE at the very earliest for hard evidence that their optimism about ORG and NORP Biotech is well founded.
-- GPE PRODUCT +44 CARDINAL 7717","GPE's ORG took advantage of its new-found independence on DATE to buy the world's biggest maker of handrolling tobacco papers.
ORG, which was demerged from conglomerate PERSON DATE, said it was paying MONEY (MONEY) for GPE-based ORG, as well as acquiring QUANTITY of GPE's debt.
Chief executive PERSON told ORG that GPE, which employs CARDINAL people in GPE, GPE and GPE, would enhance the group's international expansion.
""ORG is a relatively late entrant to international markets but is making some very fast strides in growth,"" PERSON said.
GPE has a large market share in CARDINAL or CARDINAL NORP countries, he said.
Shares in ORG, which will finance the deal out of bank borrowings, rose MONEY to CARDINAL as traders greeted the news.
Founded in DATE, GPE is the world's largest producer and seller of the thin papers used for handrolling cigarettes. It has PERCENT of world market share in branded products.
PERSON said the company was active in CARDINAL countries, adding: ""Obviously we are looking to extract the potential we see at GPE for increased profitability and productivity.""
PERSON said ORG had been able to take advantage of its new-found independence from ORG.
""It is a company we have been interested in for DATE,"" he said, adding that the acquisition was ""very much in line with our strategy at demerger of focusing on tobacco and tobacco-related products.""
No job losses are anticipated as a result of the acquisition. ""We do see scope for productivity improvements but the plants are working at capacity,"" PERSON said.
ORG said PERSON, which is based in ORG, would continue to be run as a separate division, with the existing management remaining in place.
In DATE, ORG posted a trading profit of MONEY on sales of MONEY, and had net tangible assets of QUANTITY.
($MONEY Pound)",1
"Investors in the fast-growing NORP biotechnology sector can look forward to another roller-coaster ride in DATE, with serious profits still there to be made by investors who pick their stocks carefully.
Although sharp falls in the value of the sector since its peak DATE have underlined the riskiness of biotechs as an investment, analysts said DATE should be DATE when a host of companies publish data which will start to prove that the underlying technology can produce drugs that really work.
It should also see a number of businesses step out of the long shadow cast by NORP PERSON, which continues to ride high on hopes that its cancer treatment ORG will be the sector's ORDINAL wonderdrug.
Among those most keenly tipped for success DATE are ORG, ORG, Chiroscience Group Plc, ORG and Scotia Holdings Plc.
And there are growing signs that other countries, notably GPE and GPE, will start to challenge GPE's domination of the NORP biotech industry. GPE currently has more biotech companies than the rest of LOC combined.
STOCKS STILL AHEAD DESPITE DATE SETBACK
Analysts at ORG said the end of a DATE long run of gains by GPE's biotech stocks in DATE, since when prices have dropped by PERCENT, jolted investors, leading many to question the real value of biotechs.
But ORG GPE/Europe Biotechnology Index also shows that even after this setback, biotech stocks are still showing an overall gain of PERCENT compared with the start of their bull run in DATE.
And in a note on the sector, ORG said investors could buy into drug discovery and development in biotechs at a fraction of the cost of buying into the pipelines of mature companies like ORG and ORG.
ORG analyst PERSON also disputed another claim of DATE, that GPE biotech stocks are vastly overvalued compared with the much larger GPE sector.
PERSON said a ratio of market capitalisation to DATE of spending on research and development showed GPE biotechs are valued at CARDINAL times accumulated spending and NORP companies at CARDINAL times.
""We are not overvalued compared to the GPE,"" he said. ""When people say the GPE is overvalued they are looking at ORG, but ORDINAL place companies like ORG, ORG and NORP are all looking very good value.""
PERSON and ORG analyst Erling Refsum said investors had become much more choosy about which stocks to buy, but there was now a danger that people were being too cautious. Where DATE people would put money into almost any biotech that could type out a prospectus, in DATE a number of small flotations and fundings have been scaled down or dropped.
Even NORP Biotech was forced to turn to underwriters to rescue its MONEY (MONEY) cash call in DATE.
Refsum said the market was focusing too much on the PERCENT chance that a drug in ORG trials would fail to get to market rather than the equal chance it would succeed. PERSON added ""I think it is the wrong way of looking at it. You should evaluate risk, but across a portfolio of companies where you are spreading the risk.""
ISSUES TO WATCH IN DATE
Among key stocks to watch in DATE will again be NORP Biotech, where clinical trials of ORG are entering the final phase. Although trials will not be completed until DATE at the earliest, the company plans detailed updates on the drug, probably in DATE. Bad news is still expected to have a disproportionate effect on the whole of the sector.
PERSON is singled out by ORG, GPE and ORG. ORG said ORG is ""very good value,"" and ORG have a target valuation of QUANTITY per share for the company by DATE compared with a price of MONEY on DATE TIME. Optimism about a septic shock drug, being developed with GPE's ORG, and progress on a therapy for ORG are seen as key drivers.
GPE-based ORG, which ORG values at MONEY per share compared with DATE TIME's price of CARDINAL, is also favoured, amid hopes that a new local anesthetic will provide a flow of cash for an ambitious pipeline of novel drugs including cancer and arthritis treatments.
GPE-NORP group ORG is strongly tipped by ORG's Refsum, who believes oral osteoporosis and insulin drugs could turn out to be MONEY-sellers, while he also favours ORG, which is in the unusual position of having CARDINAL drugs nearing the market. PERSON group ORG could be sitting on a product worth MONEY a year if data due to be published in DATE prove its diagnostic kit is an accurate forecaster of heart attacks.
And PERSON said contact lens and medical devices company PERSON had ""enormous upside potential"". It said the stock could be worth QUANTITY by DATE compared with MONEY on DATE.
($MONEY Pound)","Cocoa buyers in central GPE say their purchases are down by PERCENT from DATE DATE and expect the country's total CARDINAL cocoa output to be QUANTITY.
""The estimates have been too high. The crop will be QUANTITY for DATE,"" said CARDINAL buyer. Most other buyers in the area visited by ORG agreed.
""We have had DATE but now we are going back to normal levels,"" said CARDINAL buyer with CARDINAL purchasing centres. ""Our business is running at PERCENT of DATE.""
The state of cocoa farms between the main central towns of GPE and ORG seen by ORG varied widely with cocoa pod deterioration strongest in the north around ORG.
GPE exporters said DATE cocoa arrivals were down PERCENT on DATE DATE.
Exporters and buyers in southwest GPE expect arrivals of the CARDINAL crop to be PERCENT.
Private forecasters DATE projected a main crop alone of QUANTITY. The 1996/97 season opened on DATE.
Prime Minister PERSON said recently he expected his country's total cocoa crop to shrink to QUANTITY in CARDINAL from a record QUANTITY DATE.
Buyers in ORG told ORG production from older trees in their area would pull down average NORP cocoa production figures boosted by higher yields from young hybrids around PERSON and San Pedro in the southwest.
They said bean sizes varied widely from farm to farm and between trees, with a range of CARDINAL per CARDINAL grammes and PERCENT humidity.
NORP totalling CARDINAL per CARDINAL grammes are considered exportable.
""The trees here are older and have not recovered from giving a massive mid-crop DATE,"" said the biggest cocoa buyer in ORG. ""Overall quality is good but the beans are smaller and mid crop beans might be too small for export.""
Several buyers said they would close their stores in DATE.
""Crop forecasts have been too high while pod survival has been poor. There is little on trees for the rest of DATE,"" said the main PERSON buyer.
Pods had wilted on trees because of sparse rains since DATE and insects had thrived in the dry conditions as farmers could not afford treatments TIME, said CARDINAL plantation owner.
CARDINAL farms visited by ORG between ORG and PERSON showed plenty of wilted, deformed or undersized pods with insect damage and occasional ""black pod"" fungal disease.
Mature but discarded DATE and DATE-harvest pods lay in heaps on some farms with mid-crop flowering rare.
However, the situation south of GPE was markedly different with little disease, insect damage or pod wilting.
""If farmers could afford to spray (treatments) other plantations would be in much better shape,"" said CARDINAL farmer.
Several farms had good pod sizes and age distribution with flowering concentrated on some trees.
""Rains south of GPE have been more spread out so the situation is better there,"" said the manager of CARDINAL well-kept plantation.
He said GPE season sun mixed with some cloud cover and DATE showers would help flowering for mid-crop pods.
Buyers said most cocoa had now been brought out of the bush with few village stores remaining full. Transportation to port would not be delayed much by road conditions, they said.
The up-country buying operations of recently liquidated ORG, a subsidiary of large NORP exporter PERSON, have been taken over by ORG-based private buyer PERSON -- an associate of SIFCA.
Larger SOGEPAG stores have stopped receiving cocoa but smaller centres were operating. The firm offered cooperative-like terms and logisitical help to farmers.
""Diaby is running the small stores. He has enough trucks for collecting cocoa,"" said other buyers.
CARDINAL farmer said long-term output around PERSON was set to decline as trees aged and government agencies encouraged farmers to plant rubber and diversify agricultural production.
-- Abidjan bureau +225 21 90 90",0
"A television industry group is set to formally unveil its controversial system for rating programmes on DATE so parents can better control the shows their children tune in.
The group of broadcast, cable-TV and GPE executives has been meeting privately since DATE to fashion a motion-picture style system to rate TIME of shows based on their suitability for kids of different ages.
Despite loud criticism from lawmakers, parents groups, consumers advocates, educators and others, the executives said they have decided against a content-based system that would spell out the level of sex, violence and strong language.
They called such an approach unworkable. And they said an age-based system -- such as CARDINAL as suitable for children DATE and older -- will be easy for parents to use, simple to understand, and convenient for newspapers to publish.
PERSON, chief executive of ORG and head of the group developing the ratings, predicted to reporters that once more people begin to understand the new system, they will realise ""this is a hell of a lot better than what we have now.""
The ratings, to be unveiled in GPE, are expected to include CARDINAL categories. CARDINAL are expected to be: TV-G for suitable for all ages; TV-PG for parental guidance suggested; CARDINAL for kids CARDINAL and older; and TV-M for mature audiences.
The other CARDINAL will cover children's programs: those suitable for all kids and those for children older than seven.
The ratings will be put in use DATE. TV networks and syndicators will rate their shows. News, news magazine shows such as ""TIME"" and sports will be exempted.
But programmes such as ""WORK_OF_ART"" and ""Entertainment TIME"" are expected to receive ratings instead of being classified as bona fide news programmes, said CARDINAL source.
President PERSON DATE gave the system a conditional green light, saying that critics should allow the TV industry to test the ratings for DATE before demanding changes.
Yet the controversy is unlikely to die soon. PERSON, president of ORG, a children's advocacy group, called the system ""inadequate.""
She said it ""fails to provide parents the information they need to make decisions about what their children will watch.""
Top officials at ORG plan to reserve judgment until they study the system.","ORG asked ORG DATE to lift a lower court suspension of landmark federal rules aimed at prying open the nation's local telephone monopolies to competition.
The department, acting on behalf of ORG, said the lower court's ""stay"" could hurt consumers by delaying the introduction of full-fledged competition in the MONEY market.
The request comes after a GPE appeals court based in GPE DATE suspended key provisions of the ORG's ""interconnection"" order, which spells out how long-distance carriers, cable-TV operators and others could operate in the local phone market under the new telecommunications law.
The rules were frozen while the appeals court considers a challenge to the ORG order by ORG, the so-called ORG phone companies, other local carriers and state regulators who want the measure overturned.
They argue the ORG overstepped the power granted to it by ORG. The ORG, among other things, ordered the regional ORG and other local phone companies to lease their lines to new rivals at discounts of PERCENT.
The CARDINAL-judge appeals court panel said the opponents ""have a better than even chance of convincing the court"" that the ORG's rules conflicted with the law.
But ORG told the high court the appeals court action ""already imperils"" the timetable set by ORG for opening the local phone market.
""The stay draws into question not just the timing of competition in the local market, but also the timing of full entry by the ORG companies into the long-distance telephone market,"" the department added.
Long-distance carriers ORG and ORG among other companies, also asked the high court on DATE to lift the stay.
Lawyers were divided over the likely outcome.
""They have a decent shot at lifting the stay,"" said PERSON of ORGamp; PERSON. He noted the ORG's success DATE in having ORG Justice PERSON lift a lower court stay that had blocked a major ORG airwave auction.
But others were less sure. ""It's very difficult to predict,"" said PERSON of ORGamp; ORG.
ORG request, along with those of the long-distance companies, is expected to go to ORG Justice PERSON, who oversees matters related to the GPE-based appeals court.
PERSON could refer the request to the full court for its consideration.",1
"GPE's biggest gambler PERSON, a patron of GPE casinos, on DATE raised his stakes in the local burgeoning casino industry with the acquisition of management control at FAC.
Packer's media group ORG said it would spend MONEY on a PERCENT stake in FAC (ORG) and PERCENT of the management contract of the casino from GPE casino operator ORG  
ORG's investment both in the management contract and the shares of ORG would show very attractive financial returns over time, ORG chairman PERSON said in a statement.
""This transaction represents a major move into the gaming industry for ORG and provides us with an ideal base from which to build a substantial business in this dynamic industry,"" Powers said.
""This advances our strategic goal of building a ORDINAL core business alongside our television and publishing businesses,"" he said. PBL also has a option over part of GPE's remaining PERCENT stake in ORG.  
GPE president and chief executive officer PERSON said in the statement the transaction provided an opportunity to realise a superior return on its investment, while maintaining a major ownership position in the ORG casino.
Packer, GPE's richest man, has sought control of the ORG casino for DATE. In DATE Packer led a consortium to bid for the DATE GPE casino licence, but lost out to the GPE led consortium in DATE.
Since losing the ORG casino license bid, Packer interests have launched several legal actions against GPE for the award of the licence by ORG (ORG) government.  
Packer's punt on ORG shares have already made him a profit as shares in both the casino owner and PBL rose strongly after the deal was announced before DATE's sharemarket open.
In TIME trade, ORG shares were at a record high of A$MONEY, a MONEY or PERCENT rise in active trade, while PBL shares were MONEY higher at A$MONEY.
The deal was good for both companies as ORG's influence was likely to yield a tax-concession for the casino on the high-roller market, which is seen boosting cash flow for both the casino and ORG, NORP market analysts said.  
ORG owns the only legal casino in GPE and has battled ORG state government for DATE to get a similar tax rate to other NORP casinos.
""I think PERSON will probably get the tax-break from the government,"" CARDINAL GPE-based casino analyst said. ""I expect there will be some tax-break announcement DATE,"" he said.
The ORG casino is seeking a PERCENT tax concession from the state government on big spending gamblers, mainly from LOC, compared with the present tax rate of PERCENT.  
PBL is also expected to end the disappointing run of operating results the casino has reported since it opened a temporary casino in DATE. The casino is expected to open a MONEY permanment casino DATE.
Packer also has a PERCENT stake in GPE casino operator PERSON and PERCENT of ORG, which in turn owns PERCENT of ORG.
""Given ORG type of relationship it looks like there is a bit more to come out of this one,"" said PERSON, a casino analyst at ORG.
-- ORG CARDINAL-2 9373-1800","ORG, the ORDINAL largest bank in GPE, announced plans on DATE to expand its NORP activities through an alliance with NORP-based ORG.
The move signals ORG is ready to expand in the region again after putting most of its NORP activities up for sale DATE to focus on GPE.
At the time a recession was biting deeply into profits and the share register held potential predators such as GPE's richest man PERSON and ORG  
ORG chief executive PERSON said in a statement the deal with ORG was of major importance.
""It is a good strategic fit for our future growth,"" he said. ORG group chief executive PERSON said his bank was committed to ""ensuring this new relationship with ORG is of significant long term benefit to both companies"".
The venture would focus primarily on GPE, GPE, GPE, GPE and GPE, before expanding into GPE and GPE in DATE, said PERSON, group executive of ORG and ORG.",1
"ORG said DATE it will acquire ORG in a stock swap worth MONEY, creating a giant international business communications company.
The combined company, to be called ORG, will provide ""a single source for a full range of local, long distance, Internet and international service over an advanced fiber optic network,"" ORG said.
The merged company will have current DATE revenue of MONEY, with CARDINAL business customers throughout LOC, LOC and LOC. It will have an end-to-end fiber optic network with QUANTITY of fiber in service or under construction connecting all major metropolitan areas in GPE.
""We are creating the ORDINAL company since the breakup of AT&T to bundle together local and long distance services carried over an international end-to-end fiber network owned or controlled by a single company,"" said PERSON, president and CEO of ORG.
The deregulation of the telecommunications industry DATE promises to bring end-to-end service, but neither ORG nor any regional ORG can yet achieve it because of regulatory checklists and negotiating tussles.
""We think this gives us at least a DATE headstart over our competitors,"" Ebbers said in an interview.
The merger comes DATE after ORG' MONEY purchase of ORG was completed on DATE. That merger created a single source for Internet, voice, data and video services over an international fiber optic grid. ORG' stock has risen PERCENT a year since it went public DATE.
In the latest deal, which was unanimously approved by both companies' boards, each share of ORG common stock will be exchanged for CARDINAL shares of ORG common stock.
""As of DATE's closing, the merger consideration for ORG stock is MONEY,"" the statement said.
ORG's stock leaped MONEY on Nasdaq in late trading.
However, worries that the deal was too generous hit ORG's stock, which has soared an average of PERCENT a year over DATE. It fell $MONEY to $MONEY on ORG after the company said the merger would dilute earnings for DATE.
Although the transaction was valued at $MONEY per ORG share based on DATE's closing price, the steep drop in ORG's stock brought the value down to $MONEY per share, traders said.
""Over time, I think the deal will be viewed very positively, but it will take time,"" CARDINAL takeover trader said.
GPE, DATE ORG is a major provider of communications services for business and government. Its local networks in CARDINAL of major GPE cities enable it to outflank the regional ORG' lock on access to local business customers, giving it a strong bargaining position in the merger.
""He (Ebbers) had the only one sizable company to merge with whose stock we really wanted (to own),"" PERSON, chief executive of ORG, told reporters.
Despite the substantial stock premium for ORG, savings would soon cover the cost of the deal, ORG said.
GPE, Miss.-based ORG said it expects significant cost savings from reduced line and access costs. The deal will also eliminate duplication of capital spending programmes and position the combined company to take full advantage of the recent easing of telecommunications laws, it said.
Specifically, ORG no longer has to build a MONEY intercity network, because ORG already has one. ORG will not have to take a share in a MONEY transatlantic cable for its expanding international business because ORG is already a partner in CARDINAL.
Ebbers said access charges that ORG pays to local telephone companies to reach their local customers would drop because ORG already has local lines to businesses in CARDINAL GPE cities, rising to CARDINAL cities in DATE.
ORG, the internet service provider that ORG bought DATE, will have the biggest savings.
ORG said the companies hope to close the latest merger in DATE, subject to federal regulatory approval. Shareholders will vote on the deal at special meetings.
ORG said in a separate statement that it has adopted a shareholder rights plan to discourage a hostile takeover. It said move was not affected by the deal with ORG.","ORG audacious MONEY takeover of ORG on DATE has both thrilled and unnerved share analysts.
They are thrilled by the strategy of CARDINAL combined company beating industry giants to offer end-to-end business services, but some are worried by the ORG price tag and the danger of diluting ORG's hitherto rocket-like earnings trajectory.
""Strategically it is an extremely good move. It is likely to be the ORDINAL to market such an offering for businesses,"" said analyst PERSON of ORG.  
""It will give ORG a breadth of services to business unmatched in the telecommunications industry,"" said PERSON, a mergers and acquisitions advisor at consultants ORG.
I think there is some great strategic vision here,"" said PERSON, analyst at brokers PERSON. He this morning upgraded his rating on the stock to strong buy from neutral.
Analysts have not finalised calculations, which are complicated by ORG's only-recently completed acquisition of Internet access company ORG, but they say that on an earnings basis the deal looks extremely dilutive for ORG.  
""I would describe the price as a dizzying multiple, CARDINAL times trailing earnings,"" said PERSON of Dillon Read.
Most of the damage is done by huge new amortization charges -- MONEY a year for goodwill paid by ORG for ORG, and MONEY a year for goodwill paid by ORG for ORG itself. ORG itself normally only pays MONEY a year in amortization.
PERSON, ORG chief executive and chief executive of the new entity ORG, said the new company should now be valued on a discounted cash flow basis, not on an earnings basis.  
""ORG has traditionally been very focused on earnings, price earnings multiples and anti-dilutive deals. They have crossed a very significant barrier here,"" said PERSON.
Woodlief said the company was now trading at CARDINAL times cashflow for the new entity, instead of CARDINAL times cashflow for ORG on its own, but with better cash flow growth rates now in prospect.
""The stock looks very attractive at this level,"" Woodlief said. ""Its only an issue of shareholder perception. You are paying a higher premium for a higher growth rate.""
Moore forecast that once ORG's management team does the rounds of investors in DATE, the stock would bounce back.
""They are a very persuasive management team,"" ORG said. -- PERSON, GPE  CARDINAL 859 1712",1
"GPE experts helping GPE establish its funds industry said NORP planners wanted to use domestic savings to build capital markets rather than offer lucrative opportunities to foreigners.
""I do get the sense they are more keen to mobilise their own domestic savings,"" said PERSON, chairman of ORG on DATE.
PERSON had just returned from GPE where he met Vice-Premier PERSON who told him GPE would release a set of rules and regulations governing a domestic funds industry by DATE.
PERSON said he also received firm confirmation from PERSON that GPE position as a strong financial centre will continue following the territory's handover to NORP rule DATE.
""And while GPE will continue to develop its capital markets in GPE and GPE they see this very much as complementary to GPE rather than as competition,"" PERSON said.
He said he was convinced that GPE appreciates the importance of an active funds management industry in the development of a national economy with capital markets.
But GPE's dearth of investment vehicles, a product of its underdeveloped capital markets, and a currency not yet fully convertible will thwart foreigners seeking early access to GPE's nascent, but potentially huge, funds industry.
The immediate role of foreign investors will be to provide expertise to allow GPE's domestic funds industry to develop on the back of domestic savings, PERSON said.
""While we would not anticipate immediate direct overseas participation in the mainland's domestic fund markets, we believe that GPE is in a unique position to play a key role in fostering the development of the fund industry,"" he said.
A series of training sessions are being set up in GPE under the auspices of ORG and GPE financial markets regulator, ORG, PERSON said.
GPE is studying the feasibility of pilot schemes to allow NORP joint venture fund management companies to be set up to tap overseas fund management expertise, PERSON said.
""This won't happen immediately, it's likely to take some time,"" PERSON said. ""Ultimately, they very much see an investment industry as a way to develop their own economy.
""(PERSON) confirmed his understanding that our industry is very open and international and plays a major role fostering development of markets and the economy.""
Investors are already prepared for the moment GPE unveils the regulations governing the domestic funds industry.
""Once the rules are out, there are quite a few domestically managed funds waiting to start up,"" PERSON said. Existing domestic financial markets and yuan-denominated bonds are likely recipients of interest from these funds, he said.
There are already CARDINAL closed-end funds in GPE with a total asset size of MONEY invested in projects, properties, stocks and bonds. ($MONEY = MONEY)","Regulations issued by GPE DATE promoting the creation of mutual funds have become a landmark for the local industry, delegates to a conference said on DATE.
""The recognition of open-end funds or mutual funds by ORG has been quite instrumental in the development of the NORP investment fund industry over DATE,"" said PERSON of the law firm GPE, ORG in GPE.
ORG was CARDINAL of several fund experts attending a mutual fund conference in GPE who predicted a bright future for the domestic industry, with CARDINAL open-end mutual funds already established and CARDINAL more in the pipeline.
GPE released regulations in DATE outlining accounting methods, reporting procedures and valuation methods for open-end mutual funds, which were allowed for the ORDINAL time by the country's DATE Capital Market Law.
The new legal framework gives GPE an edge, placing it CARDINAL-way between the high risk and reward markets in GPE and GPE and the most exciting developed countries, most of which have hostile tax regimes, said PERSON of the GPE law firm NORP and PERSON.
""In many respects, GPE is a halfway house,"" Travers told the conference. ""GPE has a much more developed (financial) infrastructure than GPE and GPE.""
But delegates saw significant obstacles ahead, including an almost complete ignorance of mutual funds among NORP, high-yielding bank deposits that lure domestic savings away from GPE's illiquid stock market, and restrictions on foreign investment.
Although NORP pension funds hold MONEY they are prohibited from investing overseas, prompting some foreign fund managers to question the benefits of establishing NORP subsidiaries that will be restricted to managing domestic funds onshore.
But government officials made it clear that the purpose of the new rules was to persuade NORP to invest at home to spur development of domestic capital markets.
""We want to enhance domestic self-sufficiency. That is why you can only invest in NORP securities or new offerings,"" said PERSON, president director of ORG, a state-controlled finance company that launched the ORDINAL of the new open funds.
""We want to have local funds that can help the government by investing in the stock market,"" he said.
The new funds can only invest in domestic securities and are prohibited from selling PERCENT of their shares or units to any one investor, ensuring a wide investor base.
The new rules also ensure the funds are broadly invested, prohibiting them from spending PERCENT of their net asset value on any CARDINAL company or buying securities representing PERCENT of the issuer's paid-up capital.
The conference, which attracted CARDINAL delegates from fund management companies, law firms, rating agencies and fund custodians around LOC, ended on DATE with a workshop on how to structure and price mutual funds.",1
"ORG said DATE it will pay MONEY for the right to put its name on the future home for ORG ORG, a new domed stadium to be built in downtown GPE.
ORG, which has not yet chosen a formal name for the facility, will pay the fee over DATE to GPE's newly created stadium authority, which is developing the MONEY, CARDINAL-seat stadium for the ORG, other athletic and entertainment events and conventions.
The facility is expected to be built on the edge of downtown GPE, adjacent to a new, MONEY, open air ballpark for ORG baseball team.
The deal follows a growing trend for major sports facilities to sell naming rights to corporations for MONEY.
""The value of having your company's name associated with a high-profile athletic facility is extraordinary,"" said ORG Chairman PERSON.
The deal leaves stadium backers MONEY short of their fund-raising goals for the project. They face a DATE deadline to secure land purchases and raise MONEY in private and corporate contributions.
""I believe we will able to meet those conditions before DATE,"" GPE Mayor PERSON told a news conference.
GPE area voters will be asked on DATE to approve new taxes on hotel rooms and car rentals to help finance the project through an MONEY bond issue.
PERSON, a member of ORG's board of directors who is an owner of the ORG, said both he and his father, PERSON, did not participate in any board discussions on the deal.
""It was truly an arm's length deal,"" said the younger PERSON, who is leading the stadium project.
ORG, DATE, said the ORG and the stadium authority did not expect to get much of the remaining MONEY in funding from ORG and ORG Instead, they will seek funds from other companies, including automotive parts suppliers.
ORG also said if the referrendum passes, the ORG will begin discussions with the city of GPE, GPE, for an early termination of the team's lease on ORG, which expires in DATE.
The Silverdome, opened in DATE, would be the youngest GPE major league sports facility to be replaced with a new venue.","ORG workers remained on the job without a contract DATE as ORG President PERSON refrained -- for now -- from calling a strike against the auto giant.
Negotiations on a new national labor contract covering ORG's CARDINAL ORG TIME workers recessed DATE after a midnight strike deadline passed. ORG said some bargainers would resume talks TIME the day.
""The only place you can settle these agreements is at the bargaining table,"" PERSON told a news conference DATE. ""We feel that with or without a contract in place, we can continue (working). It's open-ended.""
The union plans to bring its plant-level leaders to GPE for a meeting on the talks on DATE, a move that typically comes after a tentative agreement is reached.
Although Yokich played down the threat of a strike on DATE, he said some of the CARDINAL local unions at ORG plants may resort to walkouts unless the automaker meets union demands in separate negtiations for local labor agreements.
The local talks have become a sticking point for the national negotiations, ORG said, because only a few of the locals have signed agreements with ORG.
The local pacts typically cover plant-specific issues such as work rules and health and safety standards, while the national contract covers wages, benefits, job security and other common issues.
""We decided that some of these locals need to work on these issues probably before we can ever get a settlement,"" ORG said, declining to identify specific plants or issues.
Nevertheless, he urged anxious ORG members who watched their NORP counterparts strike for DATE to stay on the job for the time being.
""We hope that everyone understands that we can't do it in the street. It isn't weakness -- we have to do it at the bargaining table,"" he said.
Negotiations at ORG's headquarters building here continued for TIME until TIME on DATE, when bargainers began leaving, carrying their TIME bags.
Although some talks were scheduled to resume DATE TIME, PERSON and other top ORG officers do not plan to return to the bargaining table until DATE TIME.
In a written statement in response to ORG's comments, ORG Vice President of ORG said the talks have been constructive.
""We have had open and constructive dialogue with the ORG since these talks began and have made significant progress on many of the issues,"" ORG said.
Yokich chided ORG's hard-headed negotiating style as ""typical ORG,"" and noted that the union has consistently had a better relationship with ORG and ORG
The ORG wants ORG to agree to the same job guarantees granted by ORG and ORG, which call for the CARDINAL companies to guarantee employment for PERCENT of their combined CARDINAL ORG members in GPE.
ORG has CARDINAL NORP parts plants that it considers uncompetitive and wants to exclude several of those facilities from the job guarantee pledges, including a door hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE, that it wants to sell.
Although ORG is viewed as the least efficient of GPE's Big Three automakers, ORG insisted that the auto giant can live with the pattern.
""I think ORG and ORG understood when we said we're preparing ourselves and our union to enter DATE with you as partners in the corporation,"" he said. ""I'm not too sure ORG understands that. They've always been late bloomers. Maybe they'll get the message sooner or later.""
The ORG's strike threat comes DATE after ORG settled a DATE strike by the independent ORG union. The ORG struck over many of the same issues -- job security and shifting jobs to outside suppliers.
ORG Vice President PERSON said the GPE union did not feel pressure to get the exact same provisions that ORG agreed to in GPE.
ORG's stock slipped MONEY to $MONEY in TIME trading on ORG.",1
"Environmental warfare has broken out across the NORP construction industry, striking some of the biggest corporations as activists give up peaceful protests and seek to hit builders where it hurts -- in their profit margins.
Described by CARDINAL NORP company as ""eco-terrorism,"" it is seen as the new business risk of DATE.
Famous names like PERSON, ORG and ARC, a unit of the conglomerate PERSON, have all been targeted.
NORP groups are no longer seen by NORP companies as harmless, badly organised groups of students and hippies.
""You only have to see them in action at protests,"" said PERSON, a spokesman for ORG, a unit of ORG which supplies construction materials.
""They walk around with mobile phones and camera equipment, they communicate and gather support for demos via the Internet -- we're talking about a highly sophisticated organisation.""
CARDINAL road protester, using the code name PERSON, told the construction journal ORG DATE: ""If it comes down to full-scale economic warfare, we will aim to drive them out of business.""
In addition to financial threats, companies say that ""terror"" tactics are used by the activists.
Costain's contract to build the controversial ORG bypass, which runs through a conservation area, has led to violent protests delaying building. There have also been bomb threats, staff intimidation and picketing of Chief Executive PERSON's home.
A Costain spokesman told ORG: ""We've had all sorts of protests at the head office and the chief executive's house. But it's when it gets to the (employee) families -- that it goes across the line.""
Tactics used by some underground groups, including the cryptic ORG, which distributes leaflets with instructions on homemade explosives, are now the subject of a police investigation.
Larger activist groups include NORP, The Land is Ours, GPE and PERSON.
The groups have targeted specific projects like the NORP bypass and the LOC highway through Twyford Down in the southern county of GPE.
But they are also campaigning on broader issue such as stopping the government road-building programme and stopping out-of-town superstores, which they say create more traffic and pollution and damage local communities.
The government has slashed its road-building spending, but it has been seen primarily as economic rather than environmental, although protests may have contributed to the decision.
PERSON, chief executive of ORG, said, ""I don't think many firms involved in tendering (bidding) for sensitive projects realise the impact environmental activity has on the cost of running a project.
""But they are more alert than they were DATE. There's no doubt it's a big issue now.""
He says the damage comes in CARDINAL forms: ""Tangible -- in the form of extra costs, additional security, threats to staff and the more intangible -- damage caused by negative publicity.""
Watts said the cost of protesting can be heavy once the company is locked into a contract.
""I do often hear on the industry circuit of tales where the company tenders at low margins and the demonstrations which follow means they are running the project at a loss.""
ARC says it's not just contractors in the front line that are affected but also suppliers like itself.
Its own quarries came under attack after it emerged that it may be a supplier for the NORP bypass.
""It was called the 'First Battle of the Newbury bypass',"" said PERSON's Harding.
""We had CARDINAL Earth First protestors invade and occupy our site. CARDINAL of pounds (dollars) of damage was done in DATE. Plus, there was the knock-on cost of lost production and extra security in future.""
PERSON, analyst at investment bank ORG, said this new phenomenon has led to a change in the way the industry evaluates project risk.
""When talking to PERSON about the LOC link (through Twyford Down) they made it fairly clear that their risk assessment methods have been changed and now involve a very clear environmental risk analysis.""
Harding says others have done the same. ""As a result of eco-terrorism, we are looking at controversial jobs more closely to see if the profit margins are wide enough to cover things like extra security.""
For an industry already suffering from razor-thin margins, overcapacity and stagnant demand, eco-terrorism is the latest bizarre twist in the construction sector's tale of woe.","Demand is the engine that will drive GPE's metals markets in DATE, said analysts and traders who expect a modest flow of money to keep consumption of base metals such as aluminium and copper ticking over.
""Consumption, don't forget consumption. It is much more important than people think,"" a NORP industry executive told ORG.
""The fundamentals really call for a higher price,"" he said of copper.  
While some trading and production firms are convinced an increase in total worldwide copper production capacity could lead to a supply glut after DATE, and a subsequent price spike, the NORP source disagreed.
Buoyant global demand should ensure copper prices stay above the ""magic US$1 a lb figure"" for a good part of DATE, he said, adding that NORP consumption would make up an important proportion of the total.  
A senior metal trader in GPE said the city's metal futures exchange was becoming more reflective of real underlying fundamentals in the country's base metal market and reducing the opportunity to arbitrage between cash and futures prices.
""If they (traders) don't think (copper) imports are necessary, the (futures) price will stay low, but if consumption needs pick up, the exchange price will go up,"" she said.
Arbitraging had been a feature of the GPE exchange in DATE, the GPE trading source said.  
""It looks like there will be efforts to control arbitraging (in DATE) -- though if the demand is there and stock is low, then the price will go up anyway,"" she said.
ORG had enough copper stocks to see end-users through to EVENT in DATE, she said.
PERSON, senior economist in GPE with ORG, said the effects of GPE's easing of credit restrictions would be seen more clearly in DATE as money began filtering through to such sectors as construction.  
Traders have complained since DATE that a near-halt to construction throughout GPE, based on a lack of available cash to keep projects going, has stifled metals use and purchasing.
This slowdown would be reflected in GPE's overall DATE economic growth figure, expected to come in at PERCENT after PERCENT in DATE, an aluminium trader said.
""PERCENT growth for DATE is a beautiful rate for LOC, but GPE is looking at having had PERCENT in DATE, so it is a setback,"" he said.
""We think it is a healthy setback, setting the scene for more stable growth and it is quite encouraging.""  
Aluminium in GPE had bucked the DATE's international trend of de-stocking -- one that will see the rest of the world's end-users, having run down their stockpiles, re-stocking in DATE -- much to the delight of producers.
GPE's official figures would probably show aluminium imports for DATE at QUANTITY, the trader, speaking on condition of anonymity, said.
""But I think a lot of that has to do with cargoes delayed from DATE and that actual net imports will be QUANTITY,"" not much changed from DATE, he said.  
And for DATE? ""We see no change in the pattern in DATE, GPE will be pretty much business as usual,"" he said.
PERSON PERSON said the easier availability of money might not translate immediately into higher base metal imports as extra domestic production had to be absorbed ORDINAL.
The main sticking point for the industry in DATE and beyond will be how the government deals with the myriad state enterprises that continue to bleed cash.
The state-owned enterprises were effectively shouldering the government's social welfare burden, PERSON said.  
The metals industry provides some startling examples of this excess, with smelters and factories employing in some cases CARDINAL of people, subsidising for them everything from housing and schooling to health care and food.
At the same time, PERSON said, management had no incentive to work for profit ""so money keeps flowing out of the government's pockets"".
""It is not an impossible problem to solve if the government can encourage the development of the private sector -- and that's a slow process,"" PERSON said.  
GPE's communist leaders are anxious to avoid the problems of unemployment and bankruptcy that followed the collapse of GPE and now plague GPE's attempts at reform.
A NORP source saw these problems of over-employment and under-performance as the metal industry's Nemesis.
""Look at the zinc smelters -- a total disaster. They are all bankrupt. This is just a big black hole, overstaffed, totally overstaffed -- which is also a result of the system,"" he said on condition of anonymity.  
""It's all the system -- look at GPE, look at GPE, they all had the same problem,"" he said, echoing many other traders and industry executives polled by ORG.
He cited the example of ORG in GPE, which produces QUANTITY a year of crude steel with CARDINAL employees.
Compare these figures to one of GPE's biggest steel producers, ORG in LOC, which employs CARDINAL people for DATE crude steel output of QUANTITY.  
""This is such a classic example, it tells you everything. This is GPE's problem. And it will only get worse,"" he said.
Problems of corruption and inefficiency aside, it is a rare international metals company that feels it can afford not to be in GPE.
""GPE is becoming a more important market,"" the NORP source said.
""For instance, in QUANTITY of (copper) concentrate was being imported. Now it is double and I don't see this trend stopping any time,"" he said.
-- GPE newsroom (CARDINAL) 2843-6470",0
"GPE on DATE announced a ban on poultry and poultry products from CARDINAL GPE states affected by what it said was the outbreak of a deadly disease.
The ban is already in effect and covers poultry from the states of GPE and GPE, an official of ORG told ORG by telephone.
It was aimed at preventing damage from the ""very destructive"" GPE disease, the ministry official said.
Official news reports said the ban was slapped on poultry products from the CARDINAL states because of CARDINAL cases of the disease discovered DATE.
A GPE embassy official in GPE said he could not immediately confirm that the disease had broken out in GPE DATE.
""That is what we are trying to confirm,"" said the diplomat, who asked not to be identified by name.
GPE has also banned all GPE poultry brought into the country either by mail or hand-carried by travellers, according to ORG official.
""Travellers are barred from bringing in any poultry goods from GPE,"" he said. ""These products also cannot be brought into GPE through the mail.""
An official of ORG said the ban went into effect on DATE.
The disease, known as viscerotropic velogenic GPE disease, or ORG, is deadly, PERSON, representative for GPE and GPE for the GPE state agriculture department, told ORG on DATE.
""It's a very, very dangerous disease -- the most feared of poultry diseases,"" he said. ""The symptoms are like influenza, and once CARDINAL bird gets the disease, all the poultry will die.""
But PERSON also said he had not heard of any recent cases of ORG in GPE.
The last major outbreak of ORG in GPE occurred in GPE in DATE and led to the eradication of the state's entire poultry population, he said.
The NORP quarantine official told ORG that the action was unrelated to other trade disputes with GPE and there were no plans to delay implementation of the decision.
GPE and GPE are at odds over textile imports, and that dispute has threatened to spill over into the farm sector.
GPE had threatened to ban some GPE farm goods -- as well as textiles and alcoholic drinks -- in retaliation for GPE penalties on textiles purchased from GPE.
On DATE, GPE announced it was delaying for DATE implementation of those curbs, which had been scheduled to take effect on DATE, because the CARDINAL sides were planning to hold further talks on the issue.
In DATE, GPE announced a ban on imports of poultry from CARDINAL GPE states because of fears it carried a virus called highly pathogenic avian influenza.
GPE and GPE held talks on the issue and the ban did not go into effect.
GPE is the ORDINAL-biggest market in the world, after GPE, for GPE poultry products.
QUANTITY of GPE poultry products -- worth a total of MONEY -- were exported to GPE through GPE DATE, according to ORG and ORG.
Every day QUANTITY of GPE chicken feet are transported across the border from GPE into GPE, the council said.","NORP Foreign Secretary PERSON met future GPE leader PERSON on DATE for the ORDINAL time since GPE was chosen but failed to narrow the gulf between the outgoing and incoming governments.
Tung told reporters after the talks that GPE had refused to budge from its objections to ORG plans to install an interim appointed legislature and dilute GPE civil liberties laws, policies Tung endorses and PERSON pro-democracy lobby vociferously opposes.
Rifkind later lashed out at sceptics who argued GPE was impotent against ORG plans for GPE after the handover at DATE, a date now DATE away.
""We will not only maintain maximum pressure until DATE. Through our involvement (in GPE), we will be able to continue to monitor and make public our opinion on the compliance by the NORP authorities with LAW,"" he told a news conference.
The DATE NORP Joint Declaration binds GPE to restoring GPE to GPE in DATE and GPE to maintaining GPE freedoms and capitalist way of life intact for DATE.
Tung said he still harboured hopes the NORP would relent and cooperate with ORG provisional legislature which will replace an elected chamber returned under the auspices of recent democratic reforms spearheaded by the colonial governor, PERSON.
""NORP position has always been clear, but I hope they will reconsider,"" said PERSON, a billionaire shipping magnate who was anointed by GPE in DATE.
GPE argues that the formation of the provisional legislature, which reverses the PERSON reforms, is illegal under the terms of the Joint Declaration.
Rifkinds brief visit, perhaps his last to GPE before the flag comes down on DATE of NORP colonial rule, was cut short to let him return early to GPE for a key vote in the NORP parliament on the ""mad cow"" crisis.
A loss could trigger a vote of no confidence in the ruling ORG, which is lagging in public opinion polls. A NORP general election must be held DATE.
Hong Kongs South China ORG newspaper, miffed that PERSON was putting domestic concerns ahead of GPE problems, headlined its DATE editorial: ""When mad cows matter more than GPE"".
With DATE to the handover, GPE is awash with conflicting emotions which have pitted the pro-Beijing and pro-democracy camps against each other and sparked acrimonious exchanges and counter-accusations.
Tung DATE hit out at ORG, accusing it of blackening PERSON name overseas by spreading doomsday predictions about the loss of freedoms.
He argued that GPE economy was buoyant, its people upbeat, and he described ORG plans as mere technicalities.
""This is just the beginning. The way things are going, PERSON and his government-in-waiting will be running out of popularity long before DATE,"" pro-democracy lawmaker PERSON wrote in a newspaper column on DATE.
Rifkind said PERSON would need to show his independence of mind if he wanted to keep the confidence of GPE people.
""He (Tung) is very emphatic that he is not under any direction from the NORP government that they have not sought to influence his views or to tell him how to behave,"" Rifkind said of ORG future leader.
""Wherever his views might differ from those of the NORP authorities, if they do differ, it would be in his own interest to make that clear, so that his independence is well understood,"" he added.",0
"Debt-laden ORG faced fresh financial pressure on DATE in the wake of the fire which swept through a main tunnel leaving a trail of damage, no running services and shaken consumer confidence.
DATE after coming back from the brink of bankruptcy with a restructuring of MONEY (MONEY) of debt, the company faced uncertainy once again as CARDINAL of its CARDINAL rail tunnels remained shut pending a safety review.
Analysts said the modest fall in ORG shares since DATE's fire was about right, however, and few believed there would be long-term damage to customer confidence.
Eurotunnel has warned of reduced services for DATE ahead as repair work goes ahead and eats into revenues.
And CARDINAL source close to ORG told ORG that the cost of repairs may be heavier than ORDINAL thought. ""The cost will be MONEY) and could get into double figures, it you consider the damage to the CARDINAL wagons and a locomotive, plus severe tunnel damage.""
He added that track sections may also need replacing after buckling in the intense heat.
While the tunnel remains shut, ORG is losing revenues at the rate of MONEY a day. It also faces the cost of compensating passengers and tranferring them by air or ferry.
A ORG spokesman said all these costs should be covered by insurance, however.
""It will have very little impact,"" said CARDINAL analyst. ""Transport disasters are always newsworthy but the bad publicity will soon fade away. ORG will be financially damaged, but you have to look at it in relation to MONEY of debt.""
The ferries have been scooping up extra business from big freight customers like ORG, which said it would be using the ferries more as a result of the tunnel fire.
PERSON, analyst at ORG, said ""There's clearly going to be some emotional reaction, but I expect it to be short-lived. After all passenger numbers rose after ORG (ferry) disaster DATE.
""Disasters don't stop people travelling. People still go shopping in GPE despite IRA bombs,"" he said.
Eurotunnel had PERCENT of the cross-Channel ferry market before the fire -- a share won partly by waging a cut-throat price-war with the ferries, which have since proposed linking up to battle against their tunnel rival.
NORP ferry giant ORG and P&O agreed to merge in DATE and are awaiting clearance from competition bodies.
PERSON said P&O's chances of clearance had been boosted by the tunnel disaster. The verdict is due DATE.
""The government wants a viable alternative to the tunnel for emergencies like this. That means the ferry business has to be economically viable. So the fire has probably improved the chances of the merger being approved.""
DATE Eurotunnel agreed a debt deal with its banks, giving them PERCENT of the company in return for wiping out MONEY of debt. The deal fixed and capped interest payments and the company said it would be unable to pay a dividend for DATE as it uses cash flow to service its debt.
Some analysts, such as ORG, remain sceptical, pointing out that the tunnel's present cash flow of MONEY per annum over its remaining DATE concession to operate the tunnel comes in at MONEY, still well short of the total remaining debt.
Eurotunnel shares on DATE were at CARDINAL, down CARDINAL, compared to the MONEY high touched on DATE. In GPE, the shares were down CARDINAL centimes at MONEY.
($1=.5950 Pound)","ORG and ORG are trying to forge an alliance to mine the huge Busang gold deposit in GPE despite a cloud of uncertainty over the rights to the find, PERSON chief executive said DATE.
But the negotiations with ORG are progressing slowly, ORG Officer PERSON told ORG.
""We're moving ahead, albeit at a snail's pace,"" he said, adding that legal issues stood in the way of a full agreement. ""We're trying to get them to appreciate our views and the legal stance that we've taken.""
DATE the NORP government advised ORG to form a joint venture with GPE-based ORG to operate Busang. The government, which also requested a PERCENT stake, set a DATE deadline, but the CARDINAL companies announced after that date that several issues remained outstanding.
Since then, the NORP government has raised doubts about ORG grip on GPE, estimated to contain MONEY of gold, worth MONEY at DATE's prices.
""The government has stopped processing the previous application for contracts of work by ORG because of various problems,"" PERSON, GPE's secretary-general of mines, told ORG in GPE on DATE. ""Therefore the previous application by ORG that has been delayed must be stopped and must be said to have been cancelled.""
He said PERSON and PERSON must jointly submit new applications for work on the deposit. Without contracts of work granted by the NORP government, PERSON cannot proceed to exploit the find.
Walsh defended his company, saying its permits and applications for the gold property were ""in good standing.""
He said CARDINAL ORG officials met with PERSON in GPE DATE and were assured everything was in line. ""The telephone call that I got from WORK_OF_ART), he was quite pleased with the meeting. He said we're making very good progress in our relationship (with the mines ministry),"" PERSON said.
PERSON spokesman PERSON, explaining the apparent contradiction, said: ""What the government wants to do in essence is that if an agreement with ORG is made, the existing applications will be replaced with new applications.""
Bre-X earlier said that PERSON had apologised for the misunderstanding, saying his comments were ""erroneously reported in a DATE ORG newswire article."" But PERSON, a ORG spokesman in GPE, said the international news and information company was confident the quotations in its DATE story from GPE were accurate.
PERSON's comments to ORG DATE were essentially repeating what he said on DATE.
Despite a barrage of statements from ORG on DATE, PERSON was still seeking clarification on the situation from the NORP government.
""We're still seeking clarification and we want to hear directly from the government of GPE,"" PERSON spokesman PERSON said in GPE. ""We're not saying anything until we talk directly to the government of GPE.""
Bre-X, too, is waiting for the NORP government to make a move.
Walsh said he still had high hopes that NORP President PERSON would open up an auction for GPE, allowing other mining companies to bid on the project. He said PERSON had not made a formal request for an auction, but added: ""We understand that the president is reviewing the situation.""
An auction would be advantageous for ORG shareholders and for GPE, he said. ""We're not soliciting offers. We are getting other phone calls,"" PERSON said. ""I am talking to principals of other companies.""
He said he had spoken to executives at ORG, ORG and ORG
In GPE, GPE spokesman PERSON said any suggestion of an open auction on GPE was encouraging. His company has made a formal request for an open bidding process.
But gold mining analyst PERSON of ORG said PERSON's competitors may be trying to make a deal with ORG more expensive for ORG. ""They're playing games,"" he said. ""One has got to read between the lines.""
GPE said PERSON was so fraught with uncertainty that he has a hard time understanding why the major gold producers would be interested. ""One doesn't even know what percentage (PERSON) will end up with. One doesn't even know how to keep PERSON happy,"" he said. ""To me it's a whole big nightmare.""
Investors were confused by DATE's developments, analysts said.
PERSON, whose stock was halted DATE, fell MONEY to C$MONEY in heavy trading of CARDINAL shares. PERSON, which lost C$MONEY on DATE, regained MONEY in trading of CARDINAL shares.",0
"GPE CARDINAL coffee season has begun amid slow buying and reports of variable quality, industry sources said.
""SIFCA (the largest NORP buyer) has started buying, so we are likely to see others follow,"" said CARDINAL large exporter. ""You could say that marks the real start of the season.""
Buying had been limited in DATE although up-country agents had been active with larger than usual volumes.
Output is put at QUANTITY for CARDINAL, against CARDINAL in CARDINAL.
The season was officially opened on DATE, rather than DATE, as the PRODUCT marketing agency struggled to set a recommended price closer to falling world market levels.
""It will be a very large crop,"" said CARDINAL local analyst. ""The coffee is now mainly off the trees and being sat on by farmers at village level.""
Buyers reported variable quality and humidity PERCENT in some areas, against export limits of PERCENT. ""Quality is particularly good around (northwestern) Man but elsewhere you will find opinion dependent on who you talk to,"" said CARDINAL.
CARDINAL source put arrivals by DATE at LOC port at QUANTITY, but figures for GPE were less clear.
Bank sources said in DATE they were reluctant to put money into coffee because of fears borrowers would not receive transfer payments from PRODUCT and would default on loans.
""That remains the case,"" said CARDINAL exporter. ""Banks are certainly reticent, so purchasing is still low."" Continuing low world market prices added to the uncertainty, others said.
PERSON tracks had dried out and some farmers were profiting from DATE sun to dry produce that was still damp because of the failure of harmattan desert winds to arrive in some areas in DATE.
""Some farmers are also being paid below offical, recommended (CARDINAL CFA) a kilo prices,"" said CARDINAL buying source.
Prices ranging CARDINAL CFA per kilo were being offered, depending on area and quality, the source said. But others said they were offering up to CARDINAL for top quality grades.
CARDINAL industry analyst said CARDINAL exporters were licensed, against CARDINAL DATE, so some would struggle to balance accounts amid more acute internal price competition.
Attention is also turning to a report on further coffee sector liberalisation expected to be with donor market reform sponsors by DATE.
Private NORP consultant ORG and PERSON will submit its report amid donor calls for an end to cross-subsidies to the coffee sector from cocoa profits from the beginning of CARDINAL.
""The price support is running at around 100 CFA a kilo based on current world prices,"" said CARDINAL source.
The focus is also turning to ORG (ORG) talks on DATE which will focus on pushing up world prices through voluntary export restraints.","Voters in GPE, who showed little apparent enthusiasm for DATE's election to end their much-delayed transition to democracy, face a long wait before they know the shape of their new national assembly.
""Provisional results are set for DATE and final results for DATE after approval by the court of appeal,"" the president of ORG, PERSON, told ORG.
Runoffs are scheduled for DATE.
Polling for the CARDINAL-seat assembly, which began DATE for nomads in the sprawling and volatile NORP country with a NORP majority and lively southern NORP minority, passed off calmly with no reports of major incidents.
A total of CARDINAL candidates from CARDINAL parties stood for the assembly, which will convene on DATE the former NORP colony's transition to democracy.
PERSON has known coups, civil war or conflict with northern neighbour GPE for much of its life from independence in DATE.
President PERSON, a former northern guerrilla leader, seized power in the arid nation in a DATE NORP-backed coup.
After repeated electoral delays, he won a multi-party presidential election in DATE after a runoff against southern rival and fellow general Wadal Abdelkader Kamougue.
PERCENT of voters took part in the ORDINAL round of that poll, which followed a DATE constitutional referendum. Voter interest tailed off in the ORDINAL round, which many opposition parties urged their supporters to boycott.
CARDINAL of GPE's CARDINAL people were eligible to vote on DATE but there was little enthusiasm for the poll in the capital, which accounts for PERCENT of all voters and where turnout appeared well down on previous polls.
Some opposition candidates denounced instances of fraud.
Former national assembly leader PERSON, a defeated presidential contender, cited CARDINAL types of fraud.
""Electoral cards were copied, pre-stuffed envelopes were taken into booths by voters and nomads have been allowed to vote in an uncontrolled manner,"" he told ORG.
The CARDINAL or so international observers, many of whom were yet to return from monitoring polling in the provinces, were expected to report their findings on DATE.
ORG member PERSON praised the organisation of polling in the capital. ""On the whole the elections seemed to me to be well-organised and thorough.""
ORG ORG heads the CARDINAL-party ORG coalition. The opposition, which alleged fraud in the presidential poll, has a rival CARDINAL-party coalition.
Election issues tended to be local or ethnic but diplomats said all parties sought fair distribution of any wealth from oil, expected to come on stream by DATE.",1
"ORG said DATE it set a licensing pact with ORG of GPE that will generate royalty payments of MONEY over DATE.
In exchange, each side agreed to drop pending patent infringement lawsuits against each other.
The agreement replaces a previous DATE deal that expired at DATE, the GPE-based maker of computer chips, notebook computers and other electronics products said.
While the deal reassured some Wall Street analysts who were not already counting on additional earnings from the settlement, others noted the terms appeared to be far less generous than one with ORG in DATE.
""ORG appears willing to take a lower number to get the suits dropped against them,"" ORG analyst PERSON said.
""Our assessment is that the agreement is at roughly PERCENT of the rate of the old agreement,"" PERSON said of the royalty formula ORG will use to pay ORG.
The new license, which runs until DATE, covers a broad base of patents from both companies, including those for semiconductors, personal computers, consumer products and telecommunications equipment, ORG said.
""We are pleased with this agreement and the value it places on our patented technology,"" said PERSON, a senior vice president and general counsel at GPE-based ORG.
The company in DATE started to more aggressively defend alleged unauthorised use of its technology in a bid to improve the value of its intellectual property within the semiconductor industry. In DATE, the company has won MONEY in additional royalties, a spokesman said.
ORG said it expected ORG to pay it MONEY in DATE for ""catch-up royalties"" covering DATE when the companies were battling in court.
Analysts said the ""catch up"" payments should substantially boost earnings for DATE, but the gain will be offset by a charge for an undisclosed amount the company plans to take for an early retirmement programme.
ORG estimated ORG will see MONEY in additional DATE royalties going forward as a result of the ORG deal, but that is down from the MONEY it received DATE from ORG at DATE.
With this deal, ORG said it has almost completed its DATE round of patent cross-license agreements with major semiconductor makers.
TIME, ORG reached DATE deals with ORG, ORG and ORG
It said talks continue with ORG and several smaller producers.
The royalty payments will bolster ORG net income, and allow it to focus on more profitable lines of business, analysts said.
ORG stock jumped $MONEY to $MONEY on ORG.","In yet another sign that GPE utilities are branching out far beyond their traditional markets, ORG and ORG on DATE announced a marketing alliance aimed at boosting customer loyalty in an increasingly competitive industry.
Under the venture, customers of ORG subsidiaries ORG and ORG will be offered a security system from regional alarm company Protection One.
The unusual alliance is viewed as the ORDINAL of many creative ventures in an uncertain era of deregulation.  
""This is the start of what is going to happen all over the place.  It's a whole new business that will coattail on the aggressive nature utilities are starting to take.  CARDINAL-stop shopping is becoming key from a marketing position,"" said PERSON, manager of utilities and energy industries at ORG.
Utilities are becoming increasingly attracted to security companies as they prepare to enter new markets that previously had been off-limits due to federal regulations.  In DATE, utilities have bought security firms or made large investments in them.  
""We're looking for new products and services that we can bring to our customer base as a way to build loyalty and ultimately build preference with our residential customers,"" said PERSON, consumer products manager at ORG.
""We've been looking at different ways of entering the home security business for DATE,"" she added.
The alliance will give Protection One instant access to the CARDINAL customers served by the ORG subsidiaries and extend its reach to GPE.  Previously, the regional security firm served CARDINAL western states.  
At a recent conference on mergers in the security industry, Protection CARDINAL officials declined to discuss potential revenue from the alliance but noted that capturing even PERCENT of ORG customers would be significant.  Customers accepting the offer will receive free installation of a home security system with the purchase of a DATE agreement for monitoring services.
The security system's alarm panel also will hold thermostat and lighting controls and remote access.
The alliance is expected to be just the ORDINAL step for ORG, which is trying to take advantage of new opportunities that are emerging from deregulation of the utilities and telecommunications industries.  ""We think this is the ORDINAL of quite a few announcements we'll be making in DATE,"" Protection CARDINAL chief financial officer PERSON told ORG at the security conference.
The alliance re-establishes a link between the CARDINAL companies that was dissolved DATE.  Protection One began as a subsidiary of ORG in DATE, but the alarm company split off in a management buyout DATE. Protection One then became a publicly-traded alarm company in DATE.",0
"Stagecoach, the NORP bus and rail group which has seen its share price grow fivefold in DATE, DATE posted a bumper PERCENT rise in DATE profits, boosting its stock to a record high.
The NORP-based group, which has enjoyed explosive growth since its flotation in DATE, said DATE pre-tax profits climbed to a record 47 million pounds (MONEY). DATE dividend rose PERCENT to MONEY (MONEY) a share and group revenues leapt to MONEY (MONEY) from CARDINAL (MONEY).
Chairman PERSON called the results excellent.
Shares in GPE were up MONEY (MONEY) at CARDINAL ($MONEY) by DATE ORG (TIME), leading a fleet of other bus companies higher in its wake. ORG rose MONEY to CARDINAL ($MONEY) and ORG added MONEY (MONEY) to ORG ($MONEY).
""It's good news all round. The profits are CARDINAL (MONEY) above what I expected. We're upgrading our year forecast by CARDINAL (MONEY) to MONEY (MONEY),"" said ORG analyst PERSON.
The results were the ORDINAL since the group's high profile acquisitions of NORP rail rolling stock company ORG bus group ORG.
""The integration of GPE and ORG is proceeding and I am confident of a successful outcome,"" said PERSON.
Porterbook and the bus operations were the real driver behind the growth in profits. The figures were also flattered by a CARDINAL-off gain of MONEY (MONEY) from the sale of a PERCENT stake in ORG. This was reflected in the high DATE payout.
PERSON's profits were better than expected at MONEY (MONEY) in DATE since it was acquired.
""That's CARDINAL (MONEY) profit a week on operating profit margins of PERCENT,"" said PERSON.
Stagecoach finance director PERSON said operating profits would ease slightly in the latter part of DATE as the company took on ""on-going expenditure for maintenance.""
He forecast Porterbrook would still perform strongly, although margins would not be as high as in DATE.
Total sales in the bus operation rose to MONEY (MONEY) against CARDINAL (MONEY), yielding profits of CARDINAL (MONEY) versus CARDINAL (MONEY).
NORP, a new business, saw sales of MONEY (MONEY) and profits of MONEY ($MONEY).
Porterbrook sales were MONEY (MONEY), with CARDINAL (MONEY) profit and ORG sales came in at CARDINAL (MONEY), with MONEY (MONEY) in profit.
Stagecoach, which started out as a brother and sister team in GPE, was floated in DATE at MONEY ($MONEY) a share. The share price has doubled DATE.","Whoever takes over from PERSON as chairman and chief executive of ORG has a major task on hand to wake the sleeping giant, reverse its loss of market share and move strongly into new market opportunities.
""You need to do something to increase the growth rate at the margin, to throw out this rearguard mentality,"" said analyst PERSON of brokers ORG.
ORG's core long distance market share has fallen to PERCENT from PERCENT in DATE, while it has failed to capitalize profitably on the growth of new areas.  
""They need to get away from the price game; they cannot win that way,"" said PERSON, a consultant at ORG, and a former ORG executive.
While ORG made the right move into wireless with the purchase of ORG, the integration of the products on CARDINAL invoice is very important and has yet to happen.
""You need someone who can sell a bill because that is how you communicate with your customer,"" said PERSON.  
Whoever is recruited to fill the vacant slot of chief operating officer, created when PERSON left in DATE, will expect to take over as chief executive and chairman from PERSON quickly, and will insist on a firm timetable.
""The problem is going to be getting the talent you need while PERSON is still around,"" said PERSON.
Sources close to the company say ORG has narrowed down its search to a shortlist of eager candidates -- none yet identified in the press -- but say an announcement is unlikely until the latter part of DATE at the earliest.  
Television channel ORG said DATE that ORG PERSON is the latest to emerge as a possible successor to PERSON.  ORG said chief executive PERSON was abroad and unavailable for immediate comment.
As a regional ORG chief executive he has powerful credentials for the post, but it remains unclear whether ORG's search is focused within the industry, or would be broadened to a candidate with powerful marketing skills from some other industry.  AT&T, and the CARDINAL executive search firms involved, ORG and ORG, have declined comment consistently on the succession issue.  
However, while the guessing game over successors has held sway in the press, it has been a snooze for investors, said analyst PERSON of brokers ORG.
""This is discussed much more in the press than by investors,"" Deatherage said.
He said that even if investors knew the candidate, it would be DATE at least before he or she would be able to have a discernible effect on the huge inertia in the corporation.
Some analysts have suggested that PERSON may stay on as chairman while the new recruit rapidly steps up to become chief executive, but PERSON thought PERSON's continued presence would overshadow the new executive.
""Insiders would much rather see PERSON leave sooner than later and it could be his best act to show his love for the company,"" he said. -- GPE CARDINAL 859 1610",0
"NORP chemicals and drugs group ORG on DATE announced a larger than expected PERCENT rise in DATE profits but said the increase would have been PERCENT but for a product recall.
Investors cheered the figures, encouraged by a good rise at its pharmaceuticals unit and the limited impact of the product recall. Rhone shares closed up PERCENT at MONEY.
The company, which reported net income of MONEY (MONEY) versus CARDINAL at the same stage DATE, said the earnings rise would have been almost twice as big but for the product recall.
Operating profit was MONEY in DATE compared with MONEY. Net sales were MONEY, up from MONEY.
ORG and its ORG GPE drugs unit issued a profit warning on DATE after the ORG joint venture with ORG recalled its albumin products due to the risk of bacterial infection.
Finance director PERSON reiterated that the recall would cut PERCENT from analysts' forecasts for DATE results.
Asked to comment on DATE forecasts going as high as MONEY, GPE said: ""I have lower forecasts in my head.""
According to PERSON, the market consensus for DATE is MONEY, rising to MONEY in DATE, after MONEY in DATE.
For DATE, net income was up PERCENT at MONEY.
""This progress is a consequence of an improvement in results in the pharmaceutical, animal health and agro businesses,"" the company said.
""The figures are better than we had forecast,"" said analyst PERSON at BZW in GPE. ""Especially the operating profit at life sciences, pharmaceuticals pleased. It was an encouraging set of results.""
ORG said he may increase his profit per share forecast from MONEY to MONEY. GPE in GPE said it saw no reason to make any adjustments to its forecast.
ORG said the agro sector recorded a PERCENT increase in sales and a PERCENT rise in its profit contribution, due to a good global economic climate and the successful marketing of new products, especially ORG.
In chemicals and the fibres and polymers divisions, a rise in volumes failed to compensate for falling prices.
Operating profit on the chemicals side was relatively steady at MONEY versus CARDINAL, while in fibres and polymers it took a dive to CARDINAL from CARDINAL.
The company said it had completed sales of non-strategic assets to the tune of MONEY by DATE and that its net debt-to-equity ratio had fallen to CARDINAL versus CARDINAL at DATE.
GPE said ORG expected assets sales to reach MONEY by DATE.
Pharmaceutical earnings would grow in DATE as the synergy savings of the DATE Fisons acquisition came through and because of new products, such as the DATE launch of anti-cancer drug Taxotere in GPE. ($MONEY French Franc)","GPE ORG staged a charm campaign on DATE with newspaper advertisements after fierce criticism about its plans to buy state-owned loss-making ORG.
Under a banner ""Do you know the dwarf ORG?, the ORDINAL biggest world company"" the group tried to counter a growing resentment in GPE that a ""tiny"" NORP company was set to buy a ""leading"" NORP group for MONEY.
GPE's ORG will state in DATE whether its agrees with a government plan to sell defence and consumer electronics ORG to ORG for one franc after an MONEY capital injection.
Lagardere will sell ORG, a maker of televisions and video recorders and a leader in digital video technology, to ORG.
Prime Minister PERSON, giving in a little to opposition from ORG and some members of his majority, DATE said there would be a parliamentary debate before the final government decision on the deal. But the debate will not be followed by a parliament vote on the proposal.
In full-page advertisements in most NORP newspapers on DATE, ORG said that its electronics arm had about the same sales figure as ORG, at MONEY, although with a big profit which the NORP company lacks.
It said that its global sales network, especially in LOC, would allow better market access for ORG's new products such as flat screen television sets and televisions that can be connected to the Internet computer network.
The company also said that ""ORG believes in GPE"" and said it had made investments in the country and had close ties with a number of NORP companies.
""Contrary to all other competitors who have based themselves or moved to neighbouring countries, ORG has chosen GPE. Simply because it believes in GPE"".
NORP of ORG are organising a seminar on the privatisation of GPE on DATE. They want the promised parliament to be televised and join a call by ORG for an inquiry commission to study the way the government came to its decision.
ORG, meanwhile, is studying the ORG bid as well as a rival offer by ORG and could make its findings on competition issues and the state cash injection known by DATE.
ORG has sounded out Commission officials about the posibility of lodging a complaint agaisnt the capital injection for its rival ORG but a spokesman in ORG said the company was at the moment not planning such a complaint.
NORP media keep speculating that some minisiters, mainly Industry Minister Franck Borotra, are hoping for ORG to declare the bid void because of the size of the capital injection.
Le Nouvel Economiste, a DATE paper, said that Philips, ORG and ORG had all turned down offers from Lagardere to acquire ORG.
In the case of Philips this was because of competition concerns, the paper said.",1
"Shares in NORP insurer ORG (ORG) jumped on DATE amid renewed speculation the insurance group may become the next victim in the industry's push to consolidate.
Rumours that a merger were in the offing were given a new lease of life after buying of ORG shares late on DATE. The shares rose on DATE, jumping in late trading to close CARDINAL-1/2p at CARDINAL-1/2p, ignoring worries about interest rates which sent stock prices across the rest of the GPE market tumbling.
Tobacco and financial sevices giant ORG has been at the centre of the most recent rumours with reports DATE that discussions between the CARDINAL had foundered.
Both companies have maintained their silence on whether discussions have actually taken place but DATE ORG said it was keeping an open mind about the opportunities for finding a partner for its financial services arm.
The search for cost savings and economies of scale are behind the latest drive to consolidate in GPE's increasingly competitive and fragmented insurance industry.
New entrants selling insurance over the telephone such as ORG have added to competition while the selling of insurance products through banks, building societies and shops is also expected to gather momentum.
ORG and GPE combined operations back in DATE to create GPE's biggest insurer and estimates it will be able to cut costs by MONEY (MONEY) DATE by DATE, shedding CARDINAL employees in the process.
Like the retail banking industry, insurance companies tend not to be dependent on key individuals and mergers are not fundamentally difficult to achieve, said analysts.
One estimated that cost savings in a tie-up between ORG and ORG could probably add PERCENT to combined operating profits.
While analysts conceded that reports the company has been discussing a deal with others in the industry may be true, they were quick to point out that such discussions have been commonplace in DATE.
""Anyone who wanted to talk to ORG would at least be listened to -- they've got shareholders to consider. But these things are not new. These companies have been talking to each other for as long as I can remember on a regular basis,"" said CARDINAL analyst.
""But I think ORG feels quite capable of controlling its own destiny and I'm not convinced that they would think another insurance company had much to offer.""
The question of which management would come out on top in any merger is another tricky issue and was said to have been behind the breakdown in talks with ORG.
Interest from abroad has also been rumoured with NORP insurance group ORG said to have been contemplating a move for ORG. General Accident and ORG have also been linked with ORG.
A full-scale takeover is a more remote possibility with the necessary premium on the current share price likely to offset many of the cost savings.
But even a merger would bring with it a multitude of problems and would put questionmarks over relationships built up with banks and financial institutions in its continental NORP businesses.
""There's pressure on both the non-life and life industries to get together and cut costs and ORG is as much a part of that as anybody else. I'm sure that most companies have talked or thought about talking to other companies. Whether anything comes of it or not is a completely different matter,"" said an analyst.
Takeover talk also extended to the insurance broking market DATE as rumours circulated of a predator stalking ORG whose shares closed CARDINAL higher at CARDINAL-1/2p.
($MONEY Pound)","NORP telephone operator SPT Telecom a.s. on DATE reported a DATE gross profit of CARDINAL crowns, in line with forecasts, and said outlays for investment rose significantly in the period.
""The figures were basically in line with our estimates. Margins are pretty much the same as they were in DATE so I think the company is in a good position for future growth,"" said PERSON an analyst at ORG.
The company's gross profit for all of DATE was CARDINAL crowns. SPT used ORG in calculating its profit.
In a statement, the company said revenues  totalled CARDINAL crowns, nearly equal to the CARDINAL crowns for DATE.
SPT said outlays for investment in the DATE period exceeded CARDINAL crowns or more than the total for DATE.
A NORP-Swiss consortium of ORG and ORG, which bought a PERCENT stake in SPT from the government DATE, has effective day-to-DATE control of the firm. The consortium paid MONEY for its stake.
SPT said it installed more telephone lines in GPE in DATE, bringing the year-to-date figure to CARDINAL lines. SPT now has a total of CARDINAL lines.
""The company is confident that it will achieve its DATE target of CARDINAL new set lines,"" the statement said. The company is aiming to increase its network by another CARDINAL lines in DATE, and CARDINAL in DATE.
SPT is the only telephone line operator in the country. There are also CARDINAL GSM mobile phone operators, but they do not install hard lines.
""If they hit the target of CARDINAL new lines it would be a pretty good base as far as revenues are concerned,"" said CARDINAL local telecom analyst.
SPT shares closed down CARDINAL crowns at CARDINAL in after-bourse trading in GPE.
The company didn't comment on its dividend policy. SPT has said in the past that it doesn't plan to pay a dividend before DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"The NORP government said on DATE it was to complete the privatisation of computer-maker ORG by selling another stake of PERCENT.
The sale, after a capital increase of ""MONEY"" will reduce the government's share in the company, both directly and through the national telecoms company France Telecom to PERCENT.
ORG said it had suspended ORG's shares, which last traded at MONEY ($MONEY), at the company's request until after completion of the operation which will take DATE.
GPE's ORG, ORG of the GPE and ORG have a PERCENT ORG stake each and are expected to subscribe to the capital increase.
The state, with a PERCENT stake, will ORDINAL subscribe to the capital increase and then sell the shares to private investors.
ORG, which has PERCENT, is expected not to join in the capital increase. It had also passed at CARDINAL previous occasions. GPE's ORG, PERCENT, has been invited to join in the capital increase.
ORG said in a statement it will decided on the issue price and the identity of the buyers after advice by the independent ORG.
Interested parties have DATE to express their interest in blocks of CARDINAL shares, or PERCENT of ORG.
PERSON, managing director, told ORG the operation would give ORG the freedom to decide on any mergers or acquisitions while it played its role in the restructuring of the NORP computer industry.
""With the support of our private shareholders, we can do that either by a market operation, by a merger or acquisition or by both,"" he said.
PERSON, the former McKinsey consultant made chairman in DATE, said DATE that the company wanted the state to sell a PERCENT stake to a ORDINAL industrial partner, preferably NORP, and financial investors.
""Rather than to wait for when the opportunity presented itself before doing anything, the shareholders have decided to put us in a position so that we could act as a private company when the time is ripe,"" ORG said when asked whether DATE's announcement meant the industrial plans had changed.
Breton said the other companies invloved in the restructuring of the NORP computer industry were GPE's ORG of the GPE and ORG of GPE. ""There are also the NORP units of GPE companies that may be interested in participating in the restructuring,"" he said.
Bull came back to the black in DATE after combined losses of MONEY since DATE. ORG said the company kept its profit forecast of higher DATE profits, after CARDINAL in DATE, but he declined to confirm the group aimed at CARDINAL.
""We keep our forecast, we are on line to deliver on our promise,"" ORG said.
Bull in DATE effectively withdrew from the troubled personal computer market by merging its ORG division with ORG of the GPE ($MONEY French Franc)","Casualties are starting to mount as NORP buyers of soybeans and soybean meal default or cancel contracts in the wake of falling international prices, NORP trading sources said on DATE.
""We have stopped doing NORP business for now,"" said a trader in GPE with a major international house.
""We're waiting for the market to stabilise and are staying away from the possibility of defaults,"" he said.
Traders in GPE, GPE and GPE reported hearing of NORP soymeal buyers delaying finance arrangements for orders in an attempt to force sellers to lower their prices.
Another GPE source reported that NORP buyers had defaulted on CARDINAL cargoes, each of QUANTITY, since DATE when international prices began to fall.
""They are defaulting because GPE buyers delayed opening LCs (letters of credit) in the hope of squeezing another two or three dollars from their sellers,"" he said.
Traders have said these tactics are next to useless as physical soymeal for prompt delivery is tight, and would command a premium that would wipe out any extra profit.
Since entering the international trading arena DATE, NORP traders have earned themselves a reputation for dubious practices when it comes to paying for their orders.
In some cases, traders have reported, a NORP buyer will default on or cancel an order for a commodity if the price falls after the order is placed and before it is delivered.
The NORP company will then attempt to replace the commodity at the cheaper rate.
As a result, when prices of a commodity that is a hot item in GPE begin to fall, some international traders simply exit the market.
Others insist on deposits, and others grade NORP traders according to their record of paying up and charge higher premiums accordingly.
Soybean meal has been the hot NORP commodity of DATE, traders said, with arrivals from LOC QUANTITY since DATE.
Traders said maximum NORP orders of GPE meal in DATE were QUANTITY.
CARDINAL trader claiming to have done QUANTITY of beans and meal business in DATE said he had letters of credit from his buyers for QUANTITY.
His sales would show up in ORG figures DATE, he said.
The price of soybean meal on ORG (CBOT) has been on a rollercoaster ride since DATE, and initially dipped while GPE was on holiday from DATE celebrating EVENT.
On DATE, NORP buyers scooped up QUANTITY of beans and meal, mostly of GPE origin, some NORP, paying MONEY a tonne, traders said.
But DATE, prices started to fall again, by DATE coming off MONEY or so a tonne -- and word of NORP cancellations and defaults began to circle.
Reports from GPE on DATE described the market as perplexed over rumours GPE had bought or cancelled export orders for GPE and NORP soybeans and soymeal.
CBOT DATE soymeal closed at $MONEY a tonne, after DATE's $MONEY.
-- GPE newsroom (CARDINAL) 2843-6470",0
"Top managers in major financial firms need to be razor-sharp if the world's increasingly complex markets are to run smoothly, however sophisticated the regulatory regime, regulators and politicians said on DATE.
""Management needs to know its business. (It) sets the ethos of the company,"" WORK_OF_ART, spokesman on treasury affairs for GPE's opposition ORG told a conference on financial regulation and minimising systemic risk.
Examples of where rules had been broken by so-called ""rogue traders"" were a clear sign of management failure, he said.
PERSON, senior vice president at ORG of GPE, also voiced doubts about management's current ability to deal with regulatory problems.
The health of an institution lay in its management and directors, but they were not necessarily properly armed to deal with problems when they arose, she said.
""Do we prepare directors and managers enough?"" Cumming said.
GPE's often criticised regulatory system, which relies heavily on so-called ""self-regulation,"" is also under scrutiny.
Darling said that whichever party won the next general election, due by DATE, the NORP regulatory system ""will be reformed."" But this would not mean ""tearing everything up or dramatic change,"" he added.
He said Labour wanted to establish a regulator with sufficient ""clout reputation and stature"" to deal with its international counterparts.
But it would not create a ""WORK_OF_ART,"" an enlarged version of the top regulator ORG (ORG), as some commentators have suggested. A Labour government would also attempt to limit the number of regulations.
Darling's call for minimising the regulatory burden by making it as cost-effective as possible was echoed by most of the speakers at the conference.
PERSON, GPE's economic secretary to the ORG, said the government wants to see a cost-benefit analysis applied to all regulations. If they fail to make sense on this basis then they should not be adopted, she said.
Knight also underlined the dramatic effect on the industry as a whole of the collapse of blue-blooded merchant bank ORG in DATE was ""a more salutory lesson than any regulation"" to other banks and financial institutions.
There were calls from both politicians for interchange between industry and the regulators, so that the experiences on either side of the fence could be carried across by individuals.
But while the idea of the regulators being staffed by people with ORDINAL-hand industry knowledge won support from many of those attending the meeting, the question of how the pay structure could accomodate such movements was seen by some as a serious obstacle to this system spreading.
And while regulators need to keep up with rapid changes in financial instruments and the industry landscape both on a domestic and a global scale, they can never be expected to be CARDINAL step ahead of the business they are monitoring.
""Regulators should respond to business realities rather than be ahead of business trends,"" Sir PERSON, chairman of the ORG told the meeting.
This would mean regulators becoming increasingly sophisticated to cope with the changing business environment and having to co-operate more and more with their counterparts in other countries.
""The next generation of supervisors will have to evaluate far more complex information and make far more complex judgements,"" Large said.","GPE has emerged from the cocoon of DATE EVENT celebrations to swoop on the world's soybean and soymeal markets, snapping up a total of QUANTITY, traders said on DATE.
CARDINAL trader in the region took the credit for DATE of QUANTITY of beans and meal business that he said had been done with NORP buyers in DATE.
""There has been a chunk of business going on,"" he said.
""I guess total meal and beans done since DATE is QUANTITY, with CARDINAL of it beans and QUANTITY of it meal,"" he said.
NORP buyers jumped into the market as soon as EVENT holiday was over, he said, expressing his surprise at how fast the usually cautious NORP reacted to price falls.
GPE celebrated the ORDINAL anniversary of the founding of the communist-ruled GPE on DATE with an extended public holiday that saw government, business and trade closed for DATE DATE DATE and DATE.
During that time, soy product prices fell significantly on ORG (CBOT) on trade concerns that the GPE crop would be higher than previously thought.
Talk of NORP interest has helped CBOT values move up a little in DATE.
Reports that GPE DATE bought CARDINAL of soymeal for DATE delivery from GPE, LOC and GPE helped propel CBOT soy product futures higher on DATE. ORG was $MONEY per tonne higher to $MONEY lower, with DATE up $MONEY at $MONEY a tonne.
The price falls coincided with CARDINAL of GPE's peak buying periods for soybeans, soybean meal and vegetable oil.
The regional trading source claiming CARDINAL the recent business as his own said he sold meal at $MONEY c&f (cost and freight) and beans at MONEY a tonne above that.
The soybeans were of GPE origin, he said, meal spread between GPE and LOC. Shipments would begin in DATE arrival.
Buyers were numerous, he said, and all the purchases were for consumption.
While the other CARDINAL of the business could not be immediately confirmed, CARDINAL other NORP trader said he believed a total of QUANTITY of beans and meal business had been done with GPE since the EVENT break.
NORP buyers were looking for low protein meal at $MONEY a tonne, and beans at MONEY a tonne, he said.
""I don't think this price will fly, but as usual GPE buyers start off low and see how low they can get it,"" he said.
Meal business concluded since DATE was QUANTITY, he said, with beans QUANTITY.
Competitive freight rates in a tight market were helping keep c&f values down, trading sources said, adding vessels could be found at MONEY a tonne from GPE to GPE.
GPE had been expected to buy QUANTITY of soybeans before DATE, and QUANTITY after DATE, a NORP trader said.
""That's to make sure they have enough in stock before new-crop meal comes into the market, which will be DATE at the earliest. And then enough in stock before EVENT (in DATE),"" he said.
""So we're right on target,"" he said.
-- Hong Kong News Room (CARDINAL) 2843 6470",0
"ORG is expected to report on DATE that its net profit growth was reined back to a slower PERCENT in DATE by an increasingly competitive home loan sector and a slower economy.
Analysts said the main focus in the results would be on how that increased competition and recent sharp cuts in home lending margins would hit ORG's profits in CARDINAL.
""You're really only going to have a full impact for DATE,"" ORG banking analyst PERSON said of the sliding home loan margins.  
""There'll start to be a moderating influence (on profits) which intensifies throughout DATE,"" he said.
""You'll see fairly cautious statements being made at the briefing.""
The median forecast in ORG's ORG analyst survey is for a net profit before abnormals for DATE of MONEY, up PERCENT from MONEY in DATE.
This compares with a PERCENT rise CARDINAL.","An inquiry into GPE's financial system has left open the option of mergers among GPE's big banks and takeovers of local banks by foreign banks in an interim discussion paper released on DATE.
The inquiry, established by the government and headed by prominent businessman PERSON, outlined various options for reform and was careful not to state its own preferences.
But it said the key aim of any reforms should be increasing the efficiency of GPE's banks to compete globally and that new technology would transform the sector. Big banks such as ORG have used the same reasoning lobbying for relaxed merger rules.
The banks have said big bank mergers are necessary to compete globally and new technology such as the Internet and global competition meant such mergers would not cut competition.
Policy set by the former ORG government has stopped mergers or foreign takeovers of GPE's CARDINAL largest banks and its CARDINAL largest insurance and superannuation groups.
The current conservative coalition government has said this so-called ""CARDINAL pillars"" policy will remain in place until it has considered the PERSON inquiry's recommendations, due to be delivered by DATE.
""The Inquiry sees as its key goal the identification of means to increase the efficiency of the NORP financial system, without compromising its safety and peformance,"" the paper said. Increased efficiency was needed to complete globally, to obtain the benefits of new technology and to increase investment returns, the paper said. It asked if competition and innovation could be stimulated by widening access to traditional banking activities through:
* ""Allowing direct non-bank access to the payments settlement system""
* Better accomodating financial conglomerates
* Allowing an increased range of institutions to provide a wider array of financial services, or
* relaxing some of the ownership restrictions on financial institutuions ?""
The inquiry said it was also wanted any reforms to increase competition and asked in that context ""whether there are any public policy grounds for restrictions on foreign acquisitions in the banking or insurance industries?""
In discussing the details of how bank mergers might be approved, the inquiry said there was widespread consensus that banks should be subject to the same competition rules as other industries. Currently any bank merger must be approved by the government through the PERSON and by ORG (ORG). This dual approval process does not apply in other industries.  
""In undertaking its assessment, the ORG notes its preference...for all sectors of the economy to be subject to a uniform set of competitionpolicy laws unless there is something sepcial which justifies different treatment,"" the paper said.
The Inquiry said it would consider the following options for merger approvals, including;
* keeping the current system of dual approval
* having the PERSON accept the ORG's decision, or * narrowing powers over mergers in banking and insurance law It said there would be no need for a 'CARDINAL pillars' policy if the NORP powers were removed or if he agreed not to excercise them. ""There was almost unanimous support that the 'CARDINAL pillars' policy should be abolished,"" the paper said.
-- ORG CARDINAL-2 9373-1812",1
"The stock of ORG plunged PERCENT DATE after the software company said it expects slowing revenue growth in DATE because of a shortage of sales staff.
The warning came DATE after the company reported better than expected DATE earnings.
PRODUCT, based in GPE, GPE, lost $MONEY to close at $MONEY on ORG trading of CARDINAL shares.
ORG writes software that helps big companies, such as ORG and ORG, find and keep track of customers and their requests.
In DATE, ORG's revenue has more than doubled each time on increasing demand for its customer-service products.
In DATE, the company's income jumped QUANTITY to MONEY, or MONEY a share, from $MONEY, or MONEY, DATE.
Wall Street had expected PRODUCT to earn MONEY a share, according to ORG, which tracks analyst forecasts.
DATE revenue more than doubled to MONEY from MONEY on strong software sales and service contracts, the company said.
In a conference call with analysts, however, ORG executives said revenue in the its DATE will be about flat to slightly higher compared with the ORDINAL. The company doesn't have enough qualified sales and marketing staff to sell its products, the company said.
""We believe most sequential growth for DATE has already occurred,"" PERSON, ORG's chief financial officer, told the analysts.
The forecast caught Wall Street by surprise, since the firm had been expected to report continued revenue leaps.
Still, most said the forecast isn't a sign of extended tough times for PRODUCT.
""Even if sequential growth in DATE is flat, that (revenue) would be double what it was DATE,"" in DATE, said PERSON, an analyst for ORG.
PERSON said the company will concentrate on expanding and training its sales and support staff in DATE. It takes DATE to train new sales people, so the new staff will not be effective until DATE.","ORG ( stunned investors DATE by reporting an unexpected MONEY profit for DATE.
The GPE, Calif.-based computer maker, which had been expected to report a loss of MONEY a share, posted a profit of MONEY a share, its ORDINAL DATE profit DATE.
In DATE, ORG had net income of MONEY, or MONEY. Included in DATE operating results was a gain of MONEY.
DATE revenue for DATE declined PERCENT to MONEY from MONEY.
ORG released the news after the market closed and Its shares jumped MONEY a share in after-hours trading.
The profit came because of ORG's aggressive cost cutting, a bigger-than-expected exodus of employees and lower prices for key components, such as memory chips, analysts said.
""It is a shock,"" said PERSON, an analyst at ORG in GPE who was expecting a loss. ""It seems they've brought the break-even point for their business down pretty dramatically. This is very encouraging.""
Most important to investors, ORG could remain profitable in DATE, which would bolster confidence among consumers that it will be around for DATE and keep loyal customers from switching to ORG-compatible personal computers, analysts said.
PERSON, ORG's chief financial officer, stopped short of predicting a profit in DATE.
He said, however, that he expects the company's costs to increase only slightly in DATE on higher advertising expenses and that DATE revenue should be about the same as in DATE.
""We continue to make progress in strengthening ORG's financial condition, as our MONEY in positive cash flow from operations during DATE suggests,"" PERSON said.
""We've reduced inventories by MONEY since DATE and completed DATE with over MONEY in cash and short-term investments,"" he said in a statement.
In DATE, ORG reported huge losses because of declining ORG sales, management turmoil and growing popularity of personal computers running ORG's PRODUCT software, which compete with ORG.
The company began slashing its costs when former ORG chief PERSON took charge of ORG in DATE.
With most of the cost-cutting plan completed, ORG now will concentrate on the much tougher task of increasing revenue, PERSON said.
While shipments were down PERCENT in DATE to CARDINAL units from DATE, ORG said shipments were up PERCENT from DATE, a sign that customers were once again buying ORG's products.
ORG has a slew of new products in the works.
On DATE, the company is expected to unveil a new low-end PRODUCT, a much-needed portable computer to replace ORG's older glitch-prone models.
In DATE, the company also is expected to introduce new low-end consumer desktop models, a niche from which ORG had retreated in an effort to cut costs.
For DATE, ORG reported a loss of MONEY, or $MONEY a share, reflecting a series of hefty CARDINAL-time charges for inventory writedowns and restructurings. In DATE, ORG earned MONEY, or $MONEY a share.
Revenue for DATE fell PERCENT to MONEY from MONEY DATE.",1
"Market talk persists about a possible demerger of ORG into a chemicals company and a pharmaceuticals group, with a leading NORP broker saying it would boost share value by a third.
""Intrinsically, ORG is worth CARDINAL to MONEY (MONEY) due to the weight of underperforming chemical activities and their important debts,"" PERSON, chief analyst at ORG, wrote recently.
He said that if the pharmaceutical activities -- ORG and ORG -- were separated from the chemical activities, total group value could be MONEY.
""An asset gain of such a size would allow (an investor) to wait until the (demerger) operation takes place,"" PERSON said, adding that the DATE and DATE results forecasts limited the downside.
Pinatton expects ORG to report a stable DATE net attributable profit of MONEY, rising to MONEY in DATE. ORG published a net attributable profit of CARDINAL in DATE.
PERSON rumours were ORDINAL fuelled by DATE comments by managing director PERSON, during a luncheon at FAC tennis tournament, saying the company had studied the possibility but had, for the time being, decided against it.
Borjeix believes the company will decide to split because management has become concerned about share holder value and also because an asset disposal policy is coming to an end.
Other analysts are less sure.
""I don't think it will happen. They will concentrate on improving margins themselves for the time being,"" said an analyst at a GPE brokerage in GPE.
He also dismissed a suggestion, aired in Business Week in DATE, of ORG selling its PERCENT stake in ORG. ""There would be no immediate benefit to that.""
Rhone shares have been rising recently, partly on the back of PERCENT higher ORDINAL CARDINAL profits and on recurring speculative rumours of a split or possible merger of the chemical activities with ORG.
Shares rose from MONEY in DATE to CARDINAL on DATE on initial speculation and then fell back to CARDINAL on DATE. They have resumed their rise to MONEY, but this is still below the institutional privatisation price of MONEY in DATE and the price for individuals of MONEY. (Corrects privatisation date to DATE from DATE and makes clear CARDINAL franc price was for institutional shareholders.)
ORG newspaper said on DATE that the company's board meeting of DATE, where the ORDINAL CARDINAL profit figures were approved, had also discussed the group's vulnerability to a takeover bid.
The paper said chairman PERSON was worried the insufficent profitability of the chemical sector would make the group a cheap buy for a rival.
Fourtou has made the restructuring of the chemical sector a key part of his strategy, next to a pharmaceutical expansion drive and a MONEY DATE asset sale plan.
Board member PERSON was recently given control of the chemicals sector in a move which was seen as signalling that restructuring of the division would accelerate.
ORG took MONEY in provisions for the chemicals sector in DATE and expects total DATE group provisions to be MONEY.
The rumours about a chemical link-up with ORG are in line with many market stories about big NORP combinations to stave off competition in world markets -- the same reasoning caused rumours Elf would merge with ORG.
At Elf, where chairman PERSON is also trying to boost profitability with cost cuts and asset sales, the ORG unit is doing fine, even though sales fell in DATE.
PERSON, the pipe-smoking chairman of the division, has embarked on a selective acquisition policy bolstered by a surge in DATE net attributable profit of MONEY, against CARDINAL in DATE.
On DATE, GPE broker PERSON issued a ""speculative buy"" advice on ORG shares, after having been ""neutral"". PERSON said the company's debt remained a worry but it appreciated developments in the drugs division and noted rumours of a demerger. ($MONEY French Franc)","The former long-time head of GPE's ORG said in a newspaper interview on DATE the group was ready to deal with whoever won ownership of state-owned ORG.
The comments to the ORG newspaper by Lord PERSON, GEC's chairman emeritus since DATE, followed a statement by ORG chairman PERSON that he was ready to make a new offer for the state electronics group if a DATE validity deadline for current offers passes.
ORG added he was willing to adjust his company's bid to recent developments and suggested the state might want to spread the privatisation of ORG out over time.
In DATE, the NORP government decided to sell ORG for one franc to ORG after a MONEY (MONEY) cash injection, instead of to ORG.
This decision awaits approval of ORG (ORG) as well as GPE's ORG.
While the ORG decision could be due in DATE, ORG will not render its decision until after the GPE' stance is known.
ORG has conceded that the entire operation may not be finished before DATE, a date after which theoretically both the Lagardere and ORG bids expire.
The announcement of a possible new ORG bid caused a slide in the company's shares, down PERCENT at MONEY at TIME, because investors did not like the new uncertainty.
Lagardere plans to merge ORG's PERCENT-owned defence unit ORG with its ORG unit while selling consumer electronics group ORG to ORG GPE for MONEY.
The ORDINAL sale has caused a public outcry and CARDINAL of ORG employees have protested in GPE's main cities, fearing for their jobs and severe NORP working conditions, despite job creation promises by ORG.
A group of ORG workers in the western town of ORG are currently walking to GPE in a protest action, aiming to arrive in the capital in time for a DATE shareholders meeting.
Part of ORG's plans were to combine the ORG business with its own defence activities and then merge these with GEC's Marconi to create a defence electronics giant.
ORG said that neither ORG's plan to merge ORG with ORG, nor ORG's defence activities with ORG, would give spectacular effects.
""Only a merger between ORG and Marconi would produce the necessary economies of scale and a good combination of products,"" he said, adding the combined company would have MONEY of DATE sales.
ORG had said it intended to find a NORP industrial partner for ORG. While the company has long standing links with GEC through GEC-Alsthom, GPE did not want to exclude a link with GPE's ORG.
In a statement, ORG minister PERSON formally denied his staff would have handed a report to President PERSON about an alleged dinner conversation between ORG and GEC chief executive PERSON in which they allegedly planned to seize control of the new defence grouping.
PERSON told FAC such a conversation had not taken place but said a report which contained a summary of the alleged conversation existed.
""Yes, that report exists and has been very damaging for the ORG position, people told us,"" ORG said.",1
"GPE's demand for feed grains will outstrip any output increases its agriculture sector manages in DATE, which could turn the country into a big importer, industry officials said on DATE.
GPE, which has just completed its ORDINAL poor harvest in DATE, the ORDINAL worst in DATE, is heading into the next crop cycle with few signs that its dismal track-record will soon recover.
""For now, consumption is still low enough to offset the decline in output, but demand is still going to rise faster than production,"" said PERSON, president of ORG, which groups leading private traders.
NORP farmers have to struggle to get their hands on whatever seeds, tractors and fertilisers they can scrape together.
The agriculture sector, CARDINAL of the most inefficient and least-reformed in GPE, has not adopted the pro-market changes reshaping some other domestic industries.
""GPE will need MONEY of grain when livestock levels and consumption return to the levels we had in DATE,"" said NORP. But he said NORP grains output, which has nearly halved in DATE, would not stage a comeback for CARDINAL.
""There is just not enough feed grain in GPE -- we've got to produce more soymeal and maize,"" PERSON, deputy head of ORG crops growing section, said.
GPE has been slaughtering livestock because it does not have enough grain to feed it. Bread is a staple in GPE but people are eating less and product quality is patchy.
GPE's just-completed DATE gross harvest was QUANTITY, according to preliminary official figures -- PERCENT above DATE's disastrous net QUANTITY, the worst since DATE.
PERCENT of the DATE total will be lost after cleaning -- putting net output at QUANTITY.
Some analysts say PERCENT of GPE's harvest was lost in the NORP era due to inefficient, obsolete combines, and that losses now, with even less money for adequate equipment, may still be severe.
""DATE, we'll see the same harvest we had DATE, maybe a little more, maybe a little less,"" PERSON said. ""But to expect sharp increases in output DATE is not realistic.""
Industry officials said that with the domestic economy showing signs of turning around and a growing middle-class hungry for meat, GPE must act fast if it is to satisfy demand in the future.
Already the signs do not point to big increases DATE.
PERSON said farmers, afraid of unseasonably warm, dry weather that has lasted into DATE across GPE's grain belt, had sown CARDINAL fewer hectares, or MONEY hectares, to winter grains for harvesting in DATE.
""Crops are in a satisfactory condition, but moisture levels are not adequate,"" he said, adding government officials had targeted a DATE harvest of QUANTITY.""
Winter wheat accounts for PERCENT of NORP wheat output and can crucially tip the balance.
""NORP want to eat meat -- but this desire has to be preceeded by very serious structural changes in agriculture,"" PERSON said. ""GPE will be a big feed grains importer for quite a while -- of that I am quite sure.""
-- GPE PRODUCT, +7095 CARDINAL 8520","NORP oil company officials said on DATE that GPE would not slap a duty on heavy fuel oil exports DATE, leaving traders to breathe a sigh of relief but still wary of secretive government manoeuvres.
The prospect of no restrictions on exports of mazut, as NORP heavy fuel oil is known, soothed traders who had been worried about short supplies of NORP material, which keep much of NORP and LOC markets warm.
But while traders said they were now PERCENT certain there would be no export duty, they cautioned that anything could happen in the NORP world of GPE.
""I am convinced that there will be no duty -- but I also know how all sorts of unexpected nightmares can happen in GPE,"" said a source at a NORP buyer in GPE.
State oil holding company ORG's chief spokesman PERSON told ORG that ORG plan for a duty had fallen flat on its face with senior cabinet officials.
""They (the government) have decided not to introduce any restrictions,"" he said.
A ORDINAL official at ORG, which ministry employees said was handling the mazut issue, also said there would be no duty.
""It is safe to say there will be no duty. It's too late. We had all expected one, but it has not come,"" PERSON, deputy head of ORG's financial-commercial directorate, said.
The ORG officials said Fuel and Energy Minister PERSON -- who had reiterated publicly as recently as DATE that there would be a duty -- had failed to excite ORG officials with the idea.
""PERSON was insisting on his position, but there are many corridors of power in GPE and he just did not score enough points with government officials to get them to agree to this,"" CARDINAL of the ORG officials said.
CARDINAL trader likened PERSON's comments to ""a soldier's talk designed to pump people up and reflect his interests"".
""It's really possible it's true (that there will be no export duty),"" said a senior trader at a NORP company.
""But it comes a little too late to make me happy. I'm not thinking about mazut until DATE so.""
NORP heavy fuel oil exports tail off sharply in the colder DATE from DATE to around DATE, as waterways and export outlets freeze and consumption increases at home.
The mazut export issue was a hot item of debate in government halls, with PERSON's camp arguing for a tariff to bolster domestic supplies, and those against the proposal saying GPE needed fewer restrictions and more of a market economy.
Traders are conditioned to expect a NORP heavy fuel oil export restriction.
GPE raised the export tariff on mazut to CARDINAL Ecus per tonne from CARDINAL Ecus during DATE to curb deliveries abroad. It banned mazut exports outright from DATE to DATE.
""GPE has grown up,"" said CARDINAL of the traders, adding that the decision not to levy a tariff was a triumph for GPE's new market-minded leaders over the old generation.
""I think there were a lot of people in the government who realised that such tariffs are just not advantageous.""
-- GPE PRODUCT +7095 CARDINAL 8520",1
"ORG stunned investors DATE by reporting an unexpected MONEY profit for DATE.
The GPE, Calif.-based computer maker, which had been expected to lose MONEY a share in DATE, posted a profit of MONEY a share, the ORDINAL time ORG was in the black DATE.
Included in the operating results for DATE of ORG's DATE was a gain of MONEY, or MONEY a share.
Wall Street welcomed the news, bidding the company's stock price up MONEY a share in after-hours trading.
Analysts cited improved manufacturing efficiencies, lower component costs and reduced operating expenses for the better-than-expected performance.
""It is a shock,"" said PERSON, computer industry analyst at ORG. ""It seems they've brought the break-even point for their business down pretty dramatically. This is very encouraging.""
In DATE, ORG earned MONEY, or MONEY a share. Revenues for DATE fell to MONEY from MONEY DATE.
For DATE, ORG posted a loss of MONEY, or $MONEY a share, reflecting a series of hefty CARDINAL-time charges for inventory writedowns and restructurings.
In DATE, ORG earned MONEY, or $MONEY a share.
During DATE, ORG was hurt by a sharp decline in its market share, management turmoil and an inability to have the right products on the shelf at the right time.
However, in DATE ORG has started to show signs of a turnaround under former ORG chief PERSON.
In a statement, Amelio said ORG's financial situation is stablized, as evidenced by the improvement in gross margins during DATE and cash flow.
""By increasing revenues sequentially and fortifying ORG's financial position in each of DATE, we have achieved CARDINAL very critical goals of ORG's transformation,"" Amelio said. ""We remain confident about reaching sustainable profitability by the end of Q2 '97.
""As we move forward, our challenges will be to extend our competitive leadership in key markets and to reclaim the mantle of industry pioneer and innovator,"" he said.
ORG's gross margins -- the difference between what it sells its products for and the cost of goods -- rose to PERCENT in DATE from PERCENT in DATE.
More importantly, however, ORG ended DATE with MONEY in cash and short-term investments on hand, up from MONEY DATE.
""We continue to make progress in strengthening ORG's financial condition, as our MONEY in positive cash flow from operations during DATE suggests,"" said ORG Chief Financial Officer Fred  PERSON. ""We've reduced inventories by MONEY since DATE and completed DATE with over MONEY in cash and short-term investments.""
""Gross margins increased due to several factors, including declining component costs, improved manufacturing efficiencies, and sales of previously reserved inventory,"" he added. ""We achieved further sequential reductions in operating expenses, primarily in general and administrative functions.""
While shipments were down PERCENT in DATE to CARDINAL units from DATE, ORG said shipments were up PERCENT, a sign that customers were once again buying its products.","ORG, struggling to remain the teacher's pet among computer makers, is turning a modified version of its handheld GPE organizer into an inexpensive portable computer for students.
The computer maker on DATE will unveil the ORG eMate 300, an MONEY that looks like a grown-up's laptop with a keyboard and a flip-up screen, but in a rugged casing that can survive rough handling.
ORG plans to sell the machine directly to elementary and high schools, beginning DATE, as an alternative to personal computers. For the price of a $MONEY multimedia PC, a school can buy CARDINAL eMates, ORG executives said.
""The federal government says we need to get to a three-to-CARDINAL student-to-computer ratio by DATE,"" said PERSON, general manager of ORG's information appliances group. ""I would say the ORG is the only credibled vehicle for accomplishing that.""
More vital to ORG, the product could keep educators from abandoning the company as the leading supplier of computers for classrooms, analysts said.
""The potential for something like this in a classroom setting is tremendous,"" said PERSON, a mobile computing analyst at ORG ""This will be an indication to educators that ORG is one of the few companies spending time extending computing to more and more kids.""
ORG needs a distinctive product to set itself apart from other personal computer makers crowding into the education market, analysts said.
Although ORG, based in GPE, GPE, still enjoys strong educational sales, sales of ORG-compatible personal computers by companies such as ORG are growing much faster.
ORG's computer has always been the favored tool for teaching children how to use computers. But in the face of ORG's uncertain future and a flood of cheap PCs, schools are less likely to remain loyal.
For DATE, of all the computers that schools plan to buy, PERCENT will be Apple Macintoshs and PERCENT ORG-compatible machines, according to a recent report by ORG, an education market researcher. In DATE, the purchasing plans were PERCENT ORG and PERCENT PC.
""The numbers are overwhelming in favor of PCs,"" said PERSON, president of ORG, another tracker of technology purchases by schools.
""No school district can afford to make a mistake"" when picking computers they will use for DATE, she noted.
ORG's Groff said, however, that the ORG is not the company's answer to competitors' inroads.
Instead, he said, the device was built for schools asking for a cheap, powerful computer that can offer educational software and Internet connections -- as well as endure rough handling by kids.
""When we introduced the GPE DATE, it was a solution in search of an application,"" PERSON said. Education turned out to be one of the best applications, he said.
Along with the ORG, ORG plans to unveil a beefier version of the GPE MessagePad on DATE. The new ORG 2000 features better Internet capabilities, easier connection to PCs and built-in word processing and spreadsheet software.
Analysts said, however, that the ORG is the more interesting device. Teachers and students will like it because it is not as esoteric and hard to run as a traditional personal computer.
""Kids are having to learn more about how to run a computer than about reading and writing,"" PERSON said. ""The ability to have the kid just turn on the device and get right into the writing assigment is really valuable.""
The ORG weighs MONEY (QUANTITY) and fits into a backpack. It can run for DATE on rechargeable batteries, according to ORG.
The machine features a built-in word processor, drawing and equation-drawing programs and an address book. With an optional modem and software, students can browse the Internet.
Still, the ORG could be a tough sell for ORG.
Because its software is based on the GPE operating system, it cannot run the CARDINAL of educational programs written for the ORG and for PCs running ORG PRODUCT software.
ORG executives are confident, however, that the ORG will help the company place more its computers on students' desks.
""There's CARDINAL screaming (grades) K-to-12 children to sell to,"" said PERSON, ORG's manager of education product lines. ""We've known for DATE this is an opportunity, but we didn't have the technology to do it before. We do now.""",1
"NORP football champions GPE extended their outstanding recent stock market form on DATE as renewed bid speculation sent the share price soaring by PERCENT for the ORDINAL straight session.
The latest gains were by a DATE report in the DATE Express that NORP PERSON ORG marketing agency was considering a bid for ORG.
""We never make comments on unsubstantiated press stories,"" said an official at ORG's GPE office. But he said that ORG, most active in sports such as tennis and golf, was interested in increasing its involvement in football.
DATE ORG lost out to sportwear company Adidas in a battle for control of former NORP football champions Olympique Marseille.
The Express report said that any credible bid for ORG would have to be pitched at around 650-700 pence per share, valuing the club at MONEY (MONEY).
United shares rocketed again on DATE, rising CARDINAL to CARDINAL, valuing the club at MONEY.
The share price has virtually trebled since DATE and added PERCENT in the last CARDINAL sessions alone.
The latest winning run was triggered when chief executive PERSON said DATE that ORG's status as GPE's most profitable soccer club made it a likely bid target.
Publishing group ORG is reported to have made a QUANTITY bid for ORG DATE which was rejected.
Analysts say that ORG would be an attractive target for media companies, citing the GPE example of television mogul PERSON who owns ORG baseball team.
The potential income from pay-per-view television deals is also helping to drive the share price and may make ORG's main shareholders think twice about selling now.
""The directors own PERCENT of the club...They can sit back for DATE and enjoy the football and then enjoy the benefits when the really big money comes in from pay-per-view,"" said PERSON of brokerage PERSON.
Pay-per-view is expected to be introduced by DATE and could allow leading clubs such as ORG to earn MONEY DATE from television.
Focus on such juicy future pickings also lifted shares in PERSON, the other ORG club with a full ORG listing. They added CARDINAL to CARDINAL.
ORG, who DATE won the coveted LANGUAGE league and ORG double, had television income of MONEY in DATE when the club made a profit of CARDINAL before tax.
A new contract between ORG and satellite broadcaster BSkyB will mean that ORG's television income should treble to QUANTITY from DATE. ($MONEY Pound)","ORG shares bounded higher on DATE on news the company had named a senior ORG official as chairman and chief executive, a move analysts said could give LOC strong hand it has lacked.
""It's quite a positive,"" said ORG networking analyst PERSON of the long-time ORG executive PERSON's selection. ""It's good to know the company is not going to be rudderless.""  
Bay shares gained CARDINAL to CARDINAL on DATE, rising from their DATE basement.
The shares were among the CARDINAL most active on the ORG.
Blachno said he will remain on the sidelines before once again backing the stock until he sees what strategies ORG may have in store to return Bay to prominence within the networking industry.
The analyst downgraded the stock to neutral from buy after LOC last earnings report, which he said included ""ominous"" signs of trouble in the company switching business, which accounts for PERCENT revenues.  
Bay's switch business has shown sequential declines in revenues for DATE, even as rivals ORG and ORG have delivered double-digit growth on larger revenue bases, PERSON noted.
Despite its reputation as a technology leader in the networking industry, ORG's finanical performance has marked it as a laggard within the group over DATE.
By contrast, GPE and CARDINAL have positioned themselves in front of an avalanche of demand for networking products and their shares have reflected that success.  
Wall Street analysts have complained that the company has suffered from a crisis of leadership in DATE.
Leadership has been an issue for Bay ever since it was formed by the merger of ORG and DATE.
Analysts said difficulties encountered in combining the predecessor companies' product lines became magnified by an attempt to operate the companies out of headquarters on CARDINAL coasts: in GPE, GPE and GPE, GPE
The hiring of PERSON as chairman, president and CEO consolidates in CARDINAL leader's hands the role of chairman, which had been held by PERSON founder of ORG, and former chief executive PERSON, a founder of Synoptics.
Severino remains a director of the company and is expected to play an important role in defining technology strategy.
Ludwick resigned DATE from the company, following DATE of speculation that he planned to leave.
""We continue to believe LOC is going to be a long-term player and CARDINAL of the leading companies in its industry,"" said PERSON, adding that, ""Of course, it will take some time before the new leader maps his course.""
-- PERSON, GPE newsdesk, CARDINAL-859-1736",0
"A CARDINAL-stage privatisation GPE's ORG electronics group would allow an early sale of its defence arm and make better economic sense than packaging defence with the loss-making consumer goods unit, stock market analysts said on DATE.
Conservative Prime Minister PERSON said in an interview in ORG on DATE that the military electronics subsidiary ORG be separated from ORG to allow for a speedy privatisation.
The government was forced DATE to drop its preferred choice of selling the whole ORG group to ORG for a symbolic one franc after the independent ORG rejected that option.
A break-up of ORG runs directly against President PERSON's initial policy announced on DATE on restructuring the NORP defence industry and selling ORG as CARDINAL unit.
But analysts said the CARDINAL-part sale made good sense.
""We should have started with that...get on immediately with restructuring the defence industry,"" said an analyst at a NORP brokerage. ""We can leave ORG (TMM) until DATE.""
A ORDINAL analyst said, ""It's the privatisation of the ORG unit which poses the problem. The industrial logic of the merger between ORG and ORG has not been criticised by anyone.""
It was ORG's plan to sell TMM to GPE ORG, while keeping ORG, which led ORG to rule out its bid. The ORG objected to planned technology transfers to ORG and the lack of binding commitments by ORG to retain jobs in GPE.
PERSON separately would meet the state's main aim of creating a defence electronics national champion, and shelve the problems of ORG. ORG is profitable, virtually clean of debt and PERCENT of the capital is quoted on the GPE bourse.
A source close to ORG said the firm has not lost any contracts due to the privatisation uncertainty but it has had to run a corporate advertising campaing in countries where it feels its image has suffered.
Lagardere's PRODUCT missile company still looks the favoured candidate for taking over ORG's defence unit ahead of a rival offer from engineering group ORG.
""We get the impression that the government wants Lagardere to get ORG,"" said CARDINAL analyst at a brokerage.
An analyst at a NORP bank said, ""Insofar as the government has made its preference known and is sticking by it, Lagardere seems to be well placed.""
Lagardere has the means to buy ORG, without recourse to significant borrowing, CARDINAL analyst said.
Taking a range of ORG share price of CARDINAL per share, the company has a market capitalisation of CARDINAL (MONEY), he said.
At DATE had MONEY in tradeable securities, CARDINAL in free cash and is due to receive CARDINAL in DATE when share warrants are due to be exercised. Financial debt was around 8.4 billion.
Lagardere would bring MONEY of ORG's assets in merging with ORG, which would reduce the cash it would have to pay. It would however be expected to pay large amounts for goodwill.
Speculation that a vertical integration of missiles, electronics and airframe makers could now be tackled by merging ORG, ORG, ORG did not stand up to scrutiny, analysts said.
ORG plane maker ORG is expected to be absorbed by the larger, civilian-aircraft manufacturer ORG as part of the defence industry consolidation. But as ORG is state-owned and the government still wants to privatise PERSON, that course seemed to be excluded, an industry executive said.
Economy ministry officials were not immediately available for comment. ($MONEY NORP Franc)","ORG operator ORG sought to reassure the public DATE about the safety of the rail link between GPE and GPE following DATE fire that halted most services.
But its public relations effort was marred by a minor fire that broke out near DATE blaze.
""There is no doubt the tunnel is at least as safe as other GPE transport systems,"" French Co-Chairman PERSON of the NORP-NORP company told a news conference.
A fire in a truck on a freight train seriously damaged a section of the tunnel on DATE, injuring CARDINAL people and raising doubts over the safety of the cross-Channel service.
The ORG high-speed passenger train and Le Shuttle car and passenger services have been halted, although a limited freight service has resumed.
DATE's fire was apparently sparked by welding work during repairs, but it was quickly extinguished, NORP police said.
""Safety is our ORDINAL consideration, ahead of commercial considerations,"" ORG PERSON said. ""The emergency evacuation procedure which forms the backbone of the safety system worked after CARDINAL other measures failed.""
The cause of the fire remains a mystery, although sabotage is seen as CARDINAL possibility by the NORP magistrate investigating the fire.
""The judge has not ruled out the theory of foul play,"" said a ORG spokeswoman.
But legal sources said the idea that the fire was started deliberately was regarded as a remote possibility and not the most likely cause.
ORG said ORG's maximum potential loss from the fire was MONEY (MONEY).
""The ultimate maximum loss for the company after receiving insurance indemnities could be of the order of CARDINAL or seven million pounds,"" he said.
PERSON's DATE revenue before the fire was MONEY MONEY (MONEY and MONEY). Loss of revenues would depend on the re-establishment of a partial service, he said.
If passenger and freight services resumed to PERCENT of previous capacity, this would mean a maximum DATE loss of MONEY (MONEY), ORG said.
PERSON's maximum insurance coverage is MONEY (MONEY) for equipment and MONEY (MONEY) for earnings losses, ORG said.
Eurotunnel hopes to resume partial passenger service DATE, if the safety commission that oversees the tunnel approves a new set of temporary evacuation measures, ORG said.
Because a QUANTITY section of CARDINAL of the tunnel bores cannot be used for evacuation, the company is laying on special fire-fighting and ambulance crews on TIME alert, with CARDINAL cars for extricating passengers.
The train that was destroyed in the fire was worth MONEY (MONEY) and repairs to the tunnel and related equipment would cost CARDINAL (MONEY). But ORG is awaiting the results of insurance investigations into the costs of the fire.
ORG said the blaze should not affect a complex plan to restructure the company's MONEY (MONEY) of junior bank debt, which took DATE to negotiate. ""There is no reason for us to put into question the restructuring,"" he told reporters.
""We do not see at this stage there needs to be any delay in the rescheduling of the debt,"" PERSON told ORG when asked whether the banks had asked for new clauses to be added to its restructuring because of the fire.
""The creditor banks have been very understanding; they wish us well ... they see it as an incident which we will get over and which will be contained in insurance arrangements and the financial arrangements we have set up,"" PERSON said.
ORG said the company did not face any problems with cash flow. ORG had MONEY (MONEY) in cash holdings and ""it is not under financial pressure to reopen services.""",1
"GPE's ORG signalled on DATE that it was thirsty for expansion and said it was eyeing possible joint ventures in GPE and GPE to add to its international stable of breweries.
Foster's executives told shareholders at the group's DATE meeting in GPE that despite hiccups at its NORP and NORP operations, the company was well positioned to seize on any growth opportunities both offshore and at home.  
""The ORDINAL priority after satisfying the cash needs of the current businesses is to seek out new direct investment opportunities with the right return profile,"" Foster's chief executive PERSON told the meeting.
""Should that not fully utilise the available financial resources, then we would look at additional options,"" he said.
Later, ORG chairman PERSON confirmed the group was considering joint venture breweries in GPE and GPE but said it was looking at a wide range of possible investments, including acquisitions. LOC is a major focus, he added.  
He declined to give details but said the NORP opportunity involved an existing plant.
""There's nothing immediate but we are looking across all the areas of our business in fact,"" PERSON told reporters.
""We are involved in looking at a couple of opportunities, but it's DATE. Provided we can see it makes sense for us, and we can do it on a basis that's going to earn a satisfactory return, then we are likely to move,"" he said.  
Foster's, which has breweries in GPE, GPE and GPE in GPE, said the NORP operations would break even or turn a profit in CARDINAL. ORG GPE posted a CARDINAL loss of MONEY before interest and tax.
The group's PERCENT owned NORP brewer, PERSON  ORG, also performed weakly in DATE, but has undergone a major restructure and is focusing on building market share at home, ORG said.  
Foster's chief executive ORG said PERSON still delivered a high return on invested capital and forecast higher operating profits from the group's powerhouse NORP brewing unit, ORG and ORG, over the medium term.
Foster's also plans to free up MONEY in non-performing assets and is counting on higher returns from its NORP pub chain, ORG, putting the group in a stong position to pursue growth, ORG said.","GPE's ORG said DATE it was thirsty for expansion and eyeing possible joint ventures in GPE and GPE to add to its brewery holdings around the world.
Foster's executives said at the group's DATE meeting in GPE that despite hiccups at its NORP and NORP operations, the company was well positioned to seize on growth opportunities both overseas and at home.
""The ORDINAL priority after satisfying the cash needs of the current businesses is to seek out new direct investment opportunities with the right return profile,"" Chief Executive Officer PERSON told shareholders.
""Should that not fully utilize the available financial resources, then we would look at additional options,"" he said.
Foster's Chairman PERSON said the group was considering joint venture breweries in GPE and GPE but said it was looking at a wide range of possible investments, including acquisitions. LOC was a major focus, he added.
He declined to give details but said the NORP opportunity involved an existing plant.
""There's nothing immediate but we are looking across all the areas of our business in fact,"" PERSON told reporters.
""We are involved in looking at a couple of opportunities, but it's DATE. Provided we can see it makes sense for us, and we can do it on a basis that's going to earn a satisfactory return, then we are likely to move,"" he said.
Foster's, which has breweries in GPE, GPE and GPE in GPE, said the NORP operations would break even or turn a profit in DATE. ORG GPE posted a loss of MONEY (MONEY) before interest and tax in DATE.
The group's PERCENT owned NORP brewer, PERSON, also performed poorly in DATE that ended on DATE, but has undergone a major restructuring and is focusing on building market share at home, ORG said.
Kunkel said PERSON still delivered a high return on invested capital and forecast higher operating profits from the group's powerhouse NORP brewing unit, ORG and ORG, over the medium term.
Foster's is also counting on higher returns from its NORP pub chain, ORG, putting the group in a stong position to pursue growth, ORG said.
Kunkel identified LOC as the most attractive region for investment, noting beer volumes there surged PERCENT in DATE and were forecast to rise PERCENT before DATE.
""Access can be achieved at a sufficiently low cost and the return profile is sufficiently better therefore than in other growing markets such as LOC,"" he said.
Foster's has allocated MONEY (MONEY) for direct investments in NORP markets, deeming this ""prudent exposure.""
The group has spent DATE shedding unwanted assets, lightening the burden of debt accumulated in DATE when it was part of the sprawling conglomerate known as ORG",1
"GPE ORG (ORG) is about to buy CARDINAL new ORG consortium aircraft and lease another to cope with increasing demand on its routes into GPE, industry sources told ORG.
The proposed deal is for CARDINAL new ORG PRODUCT aircraft for delivery in DATE and DATE with options for CARDINAL more and one larger ORG PRODUCT on lease from DATE, the source said.
A ORG spokesman said it could not confirm the reported acquisition but he said talks on new aircraft had been taking place.
The airline which currently has a fleet of CARDINAL ORG PRODUCT and CARDINAL A330s, recently said it will need additional aircraft.
""It is common knowledge that we have a requirement for extra capacity and we have been talking to ORG but no announcement has been made yet,"" the spokesman said.
Industry analysts said expansion would be seen as a vote of confidence in future business prospects after a difficult period trying to develop its regional network especially into GPE.
Slot restrictions at GPE crowded PERSON airport were a major constraint, they added.
Expansion would also benefit ORG which holds an PERCENT stake in the regional carrier by feeding more passengers and cargo on its international network and vice versa, analysts said.
Dragonair recently began new services to the NORP city of GPE and PERSON in GPE. It also has full scheduled cargo rights on CARDINAL of its NORP routes to NORP and GPE and says it has plans for additional NORP services to GPE, GPE and GPE.
Other shareholders in ORG are the NORP state-owned ORG with PERCENT, GPE-backed ORG with PERCENT and ORG's parent, ORG with PERCENT. --Air ORG Tel+44 171 542 7706 Fax +44 171 542 5017","ORG said it is considering replacing its ORG aircraft with higher capacity ORG PRODUCT because of high demand between GPE and GPE.
But aircraft availability and scheduling preclude an immediate change, PERSON, general manager commercial for ORG division said in a statement.
""The GPE service has been highly successful, in fact we have suffered too little capacity. There is a possibility though of the aircraft change happening in the near future,"" he added.
Another senior ORG executive said DATE that the carrier was hoping to increase its DATE flights from GPE to GPE to DATE.
He also said PERSON has plans to start a GPE to GPE service.
Industry observers say lack of slots at the territory's overcrowded airport is thought to be a big stumbling block and larger aircraft would be a short-term solution until GPE new airport opens.
Virgin's assistant manager in GPE, PERSON said there has been no progress on a proposal to add a freighter to its fleet because of low market rates between GPE and LOC and low yields.
--Air Cargo PRODUCT Tel+44 171 542 8982 Fax +44 171 542 5017",1
"The crackdown on GPE's young stock markets has triggered huge losses in share values and highlighted problems, particularly widespread irregularities and the lack of a regulatory structure, analysts said DATE.
DATE of losses on the exchanges in the wake of a GPE warning on speculation was also a re-run of the age-old NORP boom-and-bust cycle: controls are relaxed, rule-breaking surges, the screws are tightened and the machine almost breaks.
""Widespread irregularities are partly a legacy of the old planned economy,"" said CARDINAL economist. ""But given the power of administrative edicts to influence the markets, some firms have no choice but to resort to irregularities to survive.""
The sudden announcement of GPE's wrath at the unruly stock markets, expressed in a ORG commentary on DATE, aimed to dampen speculative trading, but ironically could have the opposite effect, some analysts said.
""Policy changes have always been a key speculative topic on GPE's stock markets,"" said CARDINAL trader. ""To regulate the markets with official orders like this time might temporarily depress the speculative mood, but in longer term, it will further add weight to the speculative fever on policy shifts.""
Market sources said that had GPE used market means rather than administrative edicts to check the dangerous roller-coaster trend in share trading, the response of the markets would have been much less volatile.
As it was, GPE's domestic A share index plunged PERCENT to CARDINAL points at the close of DATE's trading against DATE's close DATE, while the foreign currency B index was down PERCENT to CARDINAL points.
In GPE, the A share index nosedived PERCENT on DATE to CARDINAL points, while the B index lost PERCENT to CARDINAL.
""Most investors are pessimistic about the short-term trend with turnover sharply down DATE,"" said CARDINAL broker. ""We had nearly no new accounts opened DATE.""
""The inflow of fresh money into A shares has almost stopped completely,"" a GPE-based trader said. ""Many investors are in despair seeing the price of their shares diving DATE.""
Analysts said the dramatic changes DATE sparked reflections on the bust-boom cycle which has dominated GPE's stock markets since they were re-established in DATE.
At its height, GPE's A share index had surged PERCENT and its GPE counterpart PERCENT since DATE when GPE announced that it supported stock market development.
""The markets are poorly regulated,"" said CARDINAL stock analyst. ""CARDINAL of the reasons for this is the lack of a national securities law governing the stock market.""
The draft Securities Law, the topic of hot debate in the corridors of power in GPE for DATE, is not expected to be enacted soon, analysts say.
Irregularities, including manipulation of selected share prices, have been rife in the NORP markets for DATE.
In an effort to bring the industry to heel, authorities over DATE have punished branches of nearly all major state-run banks and securities houses for involvement in shady stock dealings.","GPE B shares soared a stunning PERCENT on DATE as new money poured into the market from both local and foreign investors, and analysts said there was a lot more capital waiting to enter the market.
The GPE foreign currency B share index closed at CARDINAL points, its highest level since DATE, with the supply of shares unable to meet the demand, traders said.
CARDINAL foreign analyst said he expected the B share index to top the CARDINAL-point mark before DATE, with investors increasingly confident the authorities had decided to allow local NORP investors to stay in the B share market.
""What we're seeing is a lot of stir-frying of dog stocks,"" said PERSON, chief GPE representative for FAC, referring to widespread buying of weaker counters.
""There's nothing in the fundamentals to justify this. But this is liquidity-driven and there's a lot more money waiting to come in,"" he said.
GPE B shares, however, which surged DATE than GPE, fell back PERCENT on DATE to end at CARDINAL on profit-taking after steep rises over the past few sessions, brokers said.
A fundamental factor in the GPE B market is a growing feeling that the merger of the foreign currency B shares and the A shares denominated in local currency on GPE's CARDINAL stock exchanges will come sooner than expected.
""The spread between the A and B share P/Es is substantial,"" said a foreign analyst in GPE. ""The market average for the Shanghai A shares is DATE and DATE for the B shares, so local investors see the opportunity for capital gains in a unification of the CARDINAL.""
A NORP broker agreed.
""Every day we are seeing so much fresh capital flowing into the market because investors believe the B share prices are going to move closer to their counterparts in the A share market,"" he said.
The NORP authorities have so far made no predictions on when the CARDINAL types of shares might be merged, saying only that DATE is a long way off.
PERSON, general manager of PERSON in GPE, said both locals and foreigners wanted to get into the GPE B share market.
""For locals, it is an easy decision when B shares are at a PERCENT discount to A shares,"" he said. ""Foreigners are well disposed to GPE in DATE and DATE and do not want to be net sellers of NORP equities.""
He said the current bull run could continue for DATE.
But other analysts said the extreme volatility of the market posed a threat, particularly for holders of many of the weaker and smaller B shares, when the correction begins.
""Locals are not so discriminatory in the shares they buy and have bought shares simply because they were cheap,"" said CARDINAL analyst.
""But for some poor-quality shares the prices are not sustainable. As soon as the momentum peters out, there will be a lot of sifting and these shares will go down quickly,"" the analyst added.",1
"A NORP nun has had her jail term doubled to DATE for refusing to recognise GPE's choice as the reincarnation of the region's ORDINAL holiest monk, ORG (ORG) said on DATE.
The sentence of DATE PERSON, jailed since she was DATE, was doubled in DATE, partly because she refused to accept GPE's choice as the Panchen Lama, according to the GPE-based ORG, which monitors human rights in the NORP region.
""Ngawang...is now facing (more time) in jail than any other female political prisoner in GPE,"" ORG said. She is due for release in DATE.
Officials reached by telephone in the NORP capital of GPE denied knowledge of the report.
The ORDINAL EVENT died in DATE, and GPE has anointed a DATE boy as his reincarnation.
The Dalai Lama, GPE's exiled spiritual leader, has named another DATE boy as the ORDINAL Panchen Lama, and many NORP see the GPE-backed child as a pretender.
GPE's choice is in the NORP capital under state protection against any possible assassination attempts by radical NORP, NORP sources have said.
GPE denies there are political prisoners in GPE and says foreign critics of its human rights record are interfering in its internal affairs.
Ngawang is already serving DATE -- DATE for taking part in a pro-independence demonstration in DATE and DATE for singing nationalist songs in prison in DATE, according to ORG.
Her sentence was doubled in part because she refused to tidy her cell in GPE's Drapchi prison in DATE in apparent protest against a political re-education campaign, ORG said.
The campaign is designed to force prisoners to accept GPE's choice as the reincarnated PERSON.
Ngawang also refused to stand up in the presence of a NORP official, ORG Commander PERSON, ORG said.
The human rights group, which had reported in DATE that GPE was on a restricted diet and confined in a cell with no windows, said it had only recently received confirmation of the longer jail term through a former prisoner who fled GPE.
GPE has vowed to curb the influence of Buddhism and the Dalai Lama in GPE, saying socialism must take precedence over religion.
The Dalai Lama, the most revered figure in NORP Buddhism, fled into exile in GPE in DATE after an abortive uprising against communist rule. He won WORK_OF_ART in DATE for his non-violent campaign for autonomy for his homeland.
State media have complained that monks and nuns outnumber high school students and that too much money was spent on the region's monasteries.","The NORP arm of accountancy firm ORGamp; GPE, auditors for failed NORP bank ORG, said on DATE it had issued ORDINAL party proceedings against CARDINAL former directors and employees of the bank.
""Despite the fact that we are not responsible for the collapse of ORG, we face a substantial claim. We are perceived to have deep pockets which are available to those who have lost money while those who were really responsible for the collapse of ORG escape,"" ORG said in a statement.
""We may also take additional ORDINAL party proceedings against other members of ORG management in due course,"" it added.
ORGamp; GPE's NORP firm was auditor for ORG, the parent company. Barings was rescued by NORP financial giant ING PERSON after it collapsed in DATE under losses of MONEY run up by the unauthorised derivatives trades of GPE-based PERSON.
PERSON is currently serving a CARDINAL-and-a-half year jail sentence in GPE for his part in the bank's downfall.
Ernst & PERSON, administrators to the bank, later issued claims of negligence in audits against accountants ORGamp; GPE in GPE and GPE and ORGamp; ORG in GPE.
Some commentators estimate the total amount of these writs, which have not been specified, to be MONEY (MONEY). A ORGamp; GPE official in GPE said no amount had been specified on the writ issued against it.
A spokesman at ORGamp; PERSON told ORG the firm was aware of the ORDINAL party writs issued by ORG but said that it was ""inappropriate to comment at this stage.""
The ORGamp; GPE official said the ORDINAL party writs against the CARDINAL former ORG directors and employees had not yet been served, adding it had DATE in which to do so.
The firm said in a statement that the writs had been issued in ORG against former ORG head PERSON and former deputy chairman PERSON as well as PERSON, PERSON, PERSON, PERSON, PERSON, PERSON and PERSON.
PERSON's lawyer, PERSON of law firm PERSON, told ORG he was surprised ORGamp; GPE had taken the action against PERSON.
""I am surprised that ORGamp; GPE should have taken this sort of action against Mr. PERSON. I think the way events have unfolded before the SFA (ORG) have demonstrated that he has not been in breach of any of his obligations or duties as a director,"" PERSON said.
He said he did not expect ORGamp; GPE to be successful in any claim against PERSON and suggested that issuing the writs had been ""a tactical move intended to divert attention away from the main action.""
DATE PERSON was cleared of most misconduct charges brought by the SFA, a NORP financial markets watchdog, after a hearing by an independent tribunal.
PERSON, who along with Broadhurst was banned from working in GPE by the SFA in DATE, could not be contacted by ORG.
PERSON, who was deputy chairman of ORG, was not disciplined by the SFA. In DATE the ORG said it ""found no evidence indicating that the insolvency of the group"" could be attributed to his actions.
But he had to assure the SFA he would not seek any position in an investment house which would require his registration by the ORG as a senior executive officer or as a director unless his duties were limited to giving corporate finance advice.
Gamby was reprimanded by the SFA in DATE. He had his registration as a director suspended for DATE and was required to pay MONEY towards costs.
SFA proceedings against ORG and PERSON have yet to be concluded, while PERSON was not regulated by the watchdog. ($MONEY Pound)",0
"ORG said its new restaurant openings for DATE and DATE likely will be at the low-end of its targeted range of CARDINAL to CARDINAL units.
""We will hit the low end of our projected range (with) CARDINAL-plus restaurants (in DATE),"" ORG spokesman PERSON told ORG. ""We're just doing our planning for DATE, but we expect to do CARDINAL plus DATE.""
This would be the ORDINAL time in DATE that ORG failed to beat its expansion projections, as it cuts back on limited menu -- or satellite -- units.  
In DATE, ORG opened CARDINAL units, beating the projection for DATE of CARDINAL. In DATE, it opened CARDINAL units, beating the projection of CARDINAL.
ORG has CARDINAL restaurants worldwide.
""We've been ratcheting up the level of development DATE since DATE,"" Ebeling said.
Ebeling said ORG's DATE plans to open about ""600-plus"" satellite units worldwide, down from its original plan of CARDINAL to CARDINAL satellites. The biggest decline will be seen in GPE.  
""We recognize we need higher volume restaurants to meet the kind of profitability that we'd like for ourselves and our franchisees,"" Ebeling said.
ORG analyst PERSON said the profitability of some satellite units, which are often built in non-traditional sites such as shopping malls, has been uncertain. ""In the big picture, the financial performance of satellites appears to be spotty,"" PERSON said.
Ebeling said GPE satellite units will account for CARDINAL of the total for these smaller sites, down from PERCENT as originally planned.  
Overall, Ebeling said CARDINAL of ORG's restaurant openings will still be in GPE.
ORG analyst PERSON added he would not be surprised to see ORG shift its restaurant opening strategy to further emphasize the international market.
ORG said operating income outside GPE contributed PERCENT to consolidated income for DATE.
Earlier, ORG reported DATE income of $MONEY a share, $MONEY below the consensus estimate, but above the $MONEY it earned DATE.
ORG said its GPE operating income was down PERCENT in DATE, which it blamed partly on an intensely competitive operating environment.
Same-store sales in GPE, measuring results for units open for DATE, were negative in DATE and for DATE.
But GPE sales may be picking up, PERSON added.
""I think (GPE same-store sales) are starting to hit bottom,"" PERSON said. ""Thus far in DATE, it (seems) like they have picked up and are in the flattish range.""
ORG Chicago PERSON","The MONEY takeover of ORG marks a spectacular end to Sir PERSON's DATE as chief executive of ORG.
BT and ORG, the ORDINAL largest GPE long-distance phone company, confirmed on DATE that ORG would buy PERCENT of ORG it does not own.
The deal, if completed, is a major coup for the former computer industry executive who took the helm at GPE DATE when the company split the roles of chairman and chief executive. Sir PERSON, who had been combining the CARDINAL roles since DATE, became ORG chairman.
ORG's appointment was cheered by City commentators when it was announced DATE.
The influential ORG newspaper described it as ""one of the most positive events in the group's history"".
The newspaper said the appointment marked ""a turning point in ORG's transition from public sector utility to competitive services group"".
Bonfield, DATE, had built a reputation for boosting revenue, curbing costs and international expansion during his DATE in charge of ORG, the NORP computer company owned by GPE's ORG
""His wide international experience, his dedication to quality management and his in-depth knowledge of the computing services industry will be of particular relevance to ORG, as we continue our global expansion,"" Vallance said when ORG moved to ORG.
Within DATE of his arrival ORG was in talks with NORP rival ORGamp; ORG about a merger that would have created a global telecommunications powerhouse.
Those talks ended unsuccessfully in GPE But any ORG/BT deal would be bigger than that one that got away.
Bonfield has said he wants BT to be one of the most successful global telecoms companies DATE. He believes ORG's network of continental partners built up in DATE will allow it to become a true NORP operator.
He has also targeted LOC as a region where ORG needs to expand, hence the attempt to do a deal with ORG and ORG, which is very strong there.
Analysts say the critical mass from an ORG deal would provide the power to drive international expansion.
PERSON also believes BT must become more responsive to its market. CARDINAL of ORG's strengths is its reputation as an aggressive and fast-moving company.
He grew up in the small town of ORG, north of GPE, where he went to a local state school. He graduated in engineering from ORG in the English Midlands in DATE.
He began his career with ORG, working in the field of semiconductors and computers in LOC, LOC and GPE. He became a divisional director of GPE based in the GPE before joining ORG in DATE.
He became ORG managing director in DATE and its chief executive and chairman DATE.
Bonfield, a trim, bearded individual, has an informal manner and a reputation for getting on well with colleagues. A married man, he lists his hobbies as sailing, jogging and music.",0
"GPE called on GPE on DATE to show goodwill by lifting a DATE ban on direct trade and transport links, saying attempts by the island nation to block such links would be futile.
""Obstructing the CARDINAL links between the CARDINAL sides...will be futile...is against the will of the people on both sides,"" a commentary by the ORG said of GPE's ban on direct trade, transport and mail links with GPE.
""(We) hope the GPE authorities can make a pragmatic, goodwill response,"" said the commentary carried by major newspapers on DATE.
DATE, GPE introduced a series of regulations to pave the way for direct shipping links.
GPE has banned direct trade, transport and mail links with GPE since PERSON communist army defeated and drove PERSON NORP troops to the island at the end of a civil war in DATE.
Indirect links between the CARDINAL sides have been allowed since DATE through GPE or a ORDINAL country.
The commentary accused the GPE authorities of creating obstacles to direct trade and transport links in DATE, saying this would not be conducive to prospects for peaceful reunification. The commentary did not explain how it would not be conducive.
GPE regards GPE as a renegade province and has threatened to invade if the island declared independence. It has also sought to push GPE into diplomatic isolation.
Many NORP businessmen, who have poured MONEY into GPE, clamour for direct trade and transport links, but GPE has been reluctant to lift the ban, which it views as its last bargaining chip in talks with the communists.
GPE says it is committed to reunification but stresses this cannot be achieved overnight.
DATE GPE heaped pressure on GPE by offering to hold political talks to end DATE of hostility.
CARDINAL prominent NORP business leaders and politicians were scheduled to arrive in GPE on DATE for a a high-profile, DATE visit, despite reservations voiced by the island's leaders about depending too heavily on GPE.
The visit has aroused attention because the delegation is led by ORG, a senior member of GPE's ruling ORG and vice-chairman of President Enterprises, the island's biggest investor in GPE.
NORP newspapers said ORG would meet NORP President PERSON and other senior officials.
The trip comes DATE after GPE's President PERSON called for a review of economic policy toward GPE with the aim of avoiding over dependence on the mainland.
ORG newspaper in GPE said on DATE that GPE's economic planners had drawn up measures -- including contingency plans to restrict NORP investment on the mainland -- if GPE-China relations deteriorate.
The NORP delegation would be the largest to visit GPE since easing tensions across LOC began to fray in DATE over a landmark, private visit by GPE's President PERSON to GPE.
In apparent retaliation, GPE denounced PERSON and held intimidatory war games off GPE before the island's historic presidential elections in DATE in which PERSON was re-elected.","ORG said DATE it reached a DATE deal with ORG that thrusts ORG into the top tier of GPE wireless communications providers.
Under terms of the deal, ORG said it will connect its network to a system planned by ORG to provide wireless personal communications services, giving it the capacity to offer service to CARDINAL individuals in CARDINAL areas, including CARDINAL of the top CARDINAL markets.
GPE-based ORG said it will buy MONEY minutes of capacity for its personal communications services from ORG over DATE.
Terms of the deal were not disclosed.
Personal communications services represent the new generation of celluar communications services, allowing customers to send both voice and data transmissions over wireless telephones.
The deal will help underpin the financial future of debt-laden PRODUCT, which was the largest bidder in ORG auctions for ""C-band"" wireless radio spectrum held in DATE.
PRODUCT, based in GPE and GPE, also plans to sell stock to the public.
For ORG, the deal enables it to expand quickly into the rapidly growing market for wireless personal communications services.
DATE, ORG dropped out of the auctions for ORG licences after the bidding became too rich for its taste. But with the PRODUCT pact and previous smaller deals, ORG has moved to become a major reseller of wireless services.
As part of the deal announced DATE, ORG selected ORG to provide telecommunications and other services supporting the development and ongoing operations of its personal communications services system, ORG said.
Among the major markets where Nextwave has licenses are GPE, GPE, GPE and GPE, GPE and GPE.
""This agreement with ORG establishes an immediate nationwide ORG footprint for ORG and represents an important next step in ORG's wireless strategy,"" said PERSON, vice president for ORG wireless strategy and development.
""This is the ORDINAL full interconnection agreement of its kind and brings new competition to the wireless marketplace,"" he said, noting that with full interconnection, ORG does not need to own its own wireless facilities.
Industry analysts expect to see some ferocious price-cutting in wireless telephone as competition heats up, and the latest deal will make it even more intense.
""It is going to be a battle of the PERSON,"" said PERSON, a consultant at ORG.
ORG said the PRODUCT agreement is a model for additional agreements it expects to sign with other wireless providers as part of its wireless interconnected network strategy.
The strategy is ORG's blueprint for developing a full range of wireless services and features that will be integrated into its existing communications services.
""This was ORG's strategy all along,"" said PERSON, an GPE-based telecommunications industry analyst.
He said ORG has historically preferred to resell communications services initially rather than investing in its own infrastructure. Over time, the company selectively builds its own infrastructure as it proves profitable to do so.
""Reselling service was how they became a heavy hitter in long distance in the ORDINAL place,"" PERSON said. ""What their plan is, is to resell service from other providers and build networks where they see the need to do so,"" he said.
PERSON said ORG's deal with MONEY the rapid realisation of its reseller strategy. ""This all of a sudden puts ORG on the wireless communications map in a big way.""
ORG's plunge into the wireless market makes it a viable competitor to the several existing national players in the wireless business and is bound to heat up the competition in the increasingly crowded market for cellular services.
Other national players include ORG ORG unit, ORG ORG venture with several cable companies, and ORG, a joint venture of ORG, ORG, ORG and ORG.
Still, PERSON noted that ORG's wireless unit, the former ORG business, remains twice as large as ORG's cellular business, with CARDINAL subscribers in geographic regions covering CARDINAL potential customers.
ORG's deal with PRODUCT covers CARDINAL potential customers living in a mix of metropolitan and less-densely populated areas.
ORG's stock added MONEY to trade at $MONEY on ORG in TIME trading.",0
"GPE has urged the devoutly NORP region of GPE to embrace atheism to counter the influence of the exiled spiritual leader the Dalai Lama and to raise itself out of poverty.
GPE also lashed out at ORG for allowing a meeting between officials of ORG and the Dalai Lama, whom GPE accuses of covertly working for independence for his NORP homeland.
""We have expressed our intense dissatisfaction and serious protest to the NORP side,"" ORG spokesman PERSON told a regular news briefing on DATE when asked to comment on the meeting.
To check the influence of the Dalai Lama, GPE called on officials in the restive region to preach atheism and instill socialist beliefs.
""To carry out atheistic education is a neccesary condition for...opposing the Dalai Lama's disastrous teachings aimed at causing chaos in GPE and splitting the motherland,"" ORG said in an edition seen in GPE on DATE.
""Many people have been fettered by religion and cannot break free of its bewitchment,"" the newspaper said in its DATE edition.
GPE vehemently denies accusations by western rights groups of widespread human rights abuses and religious persecution, pointing to rising living and health standards in the remote mountainous region.
The newspaper said traditional NORP beliefs, such as canons against killing animals, including pests, had hampered development of the backward and sparsely populated region.
""A lot of technology, because it violates religious tenets, is difficult to put into widespread use,"" it said.
The newspaper accused the Dalai Lama of seeking to split GPE from GPE and of using his faith both as a weapon against the NORP people and as a shield to protect himself from criticism.
""In order to expose the ORG's trick of keeping the people ignorant and to smash the ORG's plot to split the motherland...we should implement atheist education,"" it said.
The Dalai Lama fled GPE in DATE after an abortive revolt against NORP rule and won WORK_OF_ART DATE for his peaceful campaign for autonomy.
During his meeting with ORG officials in GPE, GPE, on DATE, the Dalai Lama reiterated the call for autonomy for GPE.
""The action of ORG is open support and connivance with the splittist activities of the Dalai Lama,"" Shen said.
The Dalai Lama's comments to ORG officials were restrained, dismissing any notion of economic sanctions against GPE over its rule in GPE and advising that it would be wrong to try to isolate GPE.
The Dalai Lama frequently meets foreign leaders in a globetrotting campaign to win autonomy for his homeland. GPE has vehemently opposed such meetings.
A meeting between the Dalai Lama and NORP Prime Minister PERSON DATE infuriated GPE, which demanded that GPE rectify its mistake or face possible trade retaliation.","GPE said on DATE it would empower GPE courts to put on trial off-duty NORP soldiers after GPE resumes control over the NORP colony in DATE.
The standing committee of ORG (parliament), which is in session in GPE, was expected to pass a law spelling out how to handle criminal or civil cases involving troops to be garrisoned in GPE, the official ORG said.
""Crimes committed by off-duty personnel... will be handled by the courts of GPE SAR (Special Adminstrative Region),"" the agency said.
Criminal cases involving on-duty soldiers would be handled by military courts, it said.
Civil rights offences committed by off-duty members of the NORP garrison, which will be responsible for GPE security after the colony returns to GPE's rule on DATE, would be dealt with by GPE courts, it said.
Civil rights offences committed by soldiers while on duty would be referred to GPE's ORG, the nation's highest judicial body, it said.
NORP lawmakers had used NORP army practices in GPE as a reference in drafting the measures, ORG quoted PERSON, general chief of staff of GPE's ORG (PLA), as saying.
Defence operations of the ORG would not be subject to GPE courts, ORG said but did not elaborate.
""Troops stationed in GPE will notify GPE government in advance of any military drills and exercises to be conducted that involve the public interest,"" it said.
GPE would be required to provide facilities for the carrying out of defence duties and would have to consult the military when drafting policies that concern them, it said.
Military personnel would be forbidden from participating in political or religious organisations in the territory, ORG said.
GPE has eagerly sought to allay fears among GPE CARDINAL people over the posting of NORP troops in the territory. State media has said soldiers destined for GPE have been studying local songs and customs.
Many GPE people view with trepidation the arrival of NORP troops, remembering the ORG's bloody DATE crackdown on student-led demonstrations for more democracy in GPE.
""Sending ORG troops to GPE on DATE, has become a matter of concern among GPE residents,"" ORG said.
""Troops stationed in GPE will not interfere in the SAR's local affairs,"" it pledged.
GPE has not revealed how large a force it will post in GPE but says it will send no more than the CARDINAL troops NORP stationed there at its peak level.",1
"ORG launched its new ORG chip with multimedia extension (MMX) technology on DATE, promising TV-quality video, stereo surround sound and CARDINAL-dimensional graphics for personal computers.
The world's largest computer chip maker, ORG has collaborated with CARDINAL software developers, some of which have created programs such as ORG's dizzying new car race game called Pod' especially for ORG's Pentium processors that have the new MMX technology.
""This means life-like colour, full screen video and graphics, CD (compact disk) quality stereo sound, real-time animation and a better Internet experience,"" ORG said.
Long-awaited in the computer market, the MMX has helped drive ORG shares to record levels over DATE and is expected by industry watchers to boost computer sales.
ORG shares rose a further MONEY on DATE to $143-3/8 but were down slightly in active TIME trade.
Trumpeting MMX as a ""giant leap forward"" for PC users, NORP technology director PERSON told ORG that new multimedia software written to take advantage of MMX technology ran PERCENT faster than on ORG's previous ORG processors. Existing software runs CARDINAL PERCENT faster.
ORG says the new technology will boost computer sales and soon become an industry standard.
""The new features we have introduced with MMX technology allow a much better, richer multi-media experience...and we'll see a home and consumer demand for PCs growing even more,"" ORG said.
ORG said that for the ORDINAL time in its history, a wide range of consumer software was available right at launch to exploit the powers of the new chip.
The MMX chip will initially be offered with the CARDINAL and CARDINAL MHz Pentium processors, improving the performance of personal computer-based multimedia and high-speed communications with faster ""modems"" for speeding access to the Internet.
A host of computer manufacturers are offering the Pentium MMX processor, including GPE's ORG, ORG, ORG, GPE's ORG and GPE's ORG.
NORP electrical retail chain ORG said new ORG processors with MMX technology would be available in some of its stores from DATE.
ORG said he expected systems incorporating the new MMX technology to retail at MONEY.
Analysts have estimated that ORG could sell CARDINAL to CARDINAL MMX chips DATE -- CARDINAL of the microprocessor units it will sell DATE.
But ORG declined to comment on shipments, saying only: ""By DATE, a significant percentage of our microprocessors being shipped will be incorporating MMX technology.""
The MMX chip, which is available on desktop PCs as well as on low-power portable computers, contains CARDINAL transistors and adds CARDINAL processor instructions to speed up software instructions.
The added performance of the technology frees up more of the Pentium processor to work on several tasks at once, including low-cost PC videoconferencing over standard telephone lines.
ORG said it planned to build technology to upgrade some of its older Pentium processors DATE.
The company does not expect a re-run of its experiences in DATE, when it was forced to recall hardware because of problems with its processor chips.
""I think we have learnt a lot from that experience,"" ORG said. ""We're very confident of the quality and reliability of the product we are shipping.""","NORP-Dutch food-to-detergent group ORG, reporting DATE results DATE, is likely to have suffered from restructuring costs for its NORP industrial cleaning business PERSON and from weak ice cream sales in a drab NORP summer, analysts said.
PERSON, acquired in DATE from GPE for DATE, was merged with Lever Industrial in DATE to form a combined business with DATE turnover of MONEY stg and a workforce of CARDINAL in CARDINAL different countries.  
Analysts predict DATE pretax profits in a range of MONEY, against CARDINAL stg last time.
The wide range reflects uncertainty about the size of redundancy payments and closures needed to reshape PERSON.
Charges for PERSON could range from CARDINAL stg, with a further CARDINAL needed for restructuring other ORG businesses.
But the DATE dividend, paid in DATE, is forecast to rise sharply as a result of changes to dividend policy announced at DATE.  
Analysts expect a CARDINAL dividend payout under a new policy whereby PERCENT of DATE total dividend would be paid in the stronger of either NORP guilder or sterling so far DATE. A DATE payout would represent a PERCENT increase on DATE TIME.
For DATE period analysts are forecasting pretax profits of MONEY.
""NORP ice cream sales are not going to have the special benefit they had in DATE or DATE,"" said PERSON, analyst at ORG.  
""NORP economies are generally weak, and NORP consumption if anyhing lower because of the tough economic climate there,"" he added.
PERSON at Panmure PERSON saw CARDINAL factors behind the downturn.
""The exceptional charge will be a bit higher, perhaps CARDINAL compared with CARDINAL DATE, and ice cream sales in DATE will have been influenced a lot by DATE weather.""
""Last but not least is the currency factor, with the majority of ORG profits in GPE dollars and the recent weakness in the dollar clearly having an impact.""
The consensus forecast ORG for DATE, taken from CARDINAL brokers polled by ORG, is CARDINAL, rising to CARDINAL in DATE. CARDINAL brokers downgraded their DATE ORG forecast in DATE.
ORG's return on equity is currently running at PERCENT, against PERCENT for GPE, the highest in the ORG all-share food manufacturing sector.
The company's shares reached a high of MONEY for DATE in DATE before closing down at DATE on DATE.
-- GPE PRODUCT +44 CARDINAL 6437",0
"The largest bomb blast reported in GPE marks a new desperation in NORP sentiment in the restive region and offers a longed-for opportunity to officials to launch a new crackdown, analysts said on DATE.
""I think what we are seeing here is people who tend to say that the path of non-violence is not working and they will now use violence,"" PERSON of the GPE-based ORG said in a telephone interview.
The NORP region that is peopled mainly by deeply devout NORP has been rocked in DATE by sporadic, sometimes violent, NORP unrest, with monks and nuns often at the forefront of demonstrations for independence.
The home-made ammonium nitrate blast DATE outside a city government office in GPE shattered windows in a radius of QUANTITY (yards) and was the largest such explosion reported in the region. No casualties were reported.
PERSON described the attack as an act of desperation.
""These people are NORP,"" PERSON said. ""But they are NORP who do not see anything being achieved by what the Dalai Lama is doing and they are very worried about it.""
Officials said there was little doubt that the Christmas Day blast in GPE was politically motivated and carried out by followers of the region's exiled god-king, the Dalai Lama.
""There have been increasing hints that some groups could turn to violence if GPE did not relax its repression in GPE,"" PERSON said. ""But this movement seems to have attracted only a very few.""
The Dalai Lama, who won WORK_OF_ART in DATE for his non-violent campaign to win autonomy for his homeland, says he wants self-government and freedom of worship in GPE.
He fled GPE in DATE after an abortive uprising against GPE rule and has since lived in GPE with many followers.
As part of his peaceful campaign, the ORG has proposed talks with GPE, suggesting GPE shoulder defence and foreign policy but allow NORP self-rule in internal matters such as religion. His spokesmen say GPE has not responded.
GPE has said it cannot negotiate unless the Dalai Lama recognises NORP sovereignty.
Analysts said the latest bombing had played into the hands of local authorities eager for evidence that would demonstrate to GPE the need for a stricter crackdown in GPE.
""This is just the kind of thing the authorities in GPE have been hoping for,"" PERSON said.
""They have been exaggerating hugely the extent of unrest to justify the need for a crackdown,"" he said, referring to a string of GPE newspaper articles warning against NORP forces. ""This can only help them.""
Officials interviewed recently in GPE played down the extent of NORP feeling in the region, saying those opposed to GPE were a tiny minority. Witnesses saw little sign of tight security in the capital, GPE.
However, a senior police official in GPE hinted on DATE that a stable security situation in GPE and its temples was a result of careful planning. ""The order in monasteries is good because we have recently regulated them,"" he said.
An ideological campaign in GPE, as elsewhere in GPE, to promote socialist ethics and allegiance to ORG could have ignited the new violence in a region where many ordinary NORP pledge their ORDINAL loyalty to religion, PERSON said.","GPE's private sector has become an important source of jobs for workers laid off by loss-making state enterprises and officials said on DATE the jobless were able to find work despite fears of rising unemployment.
In DATE, the private sector hired CARDINAL workers made redundant from state- and collectively owned enterprises, an official of ORG said in a telephone interview.
The official also noted a shift in the type of staff being employed by private enterprise as GPE's fastest growing sector expands and modernises.
""Before, employees were mainly peasants and young jobless,"" the administration official said.
""But in DATE, the number of those employed after leaving state enterprises has increased,"" he said. ""And there will be a bigger increase in employment of this type of worker in DATE.""
The main reason that workers were attracted to the sink-or-swim world of private enterprise from the jobs-for-life system in state firms was high wages, he said.
GPE's private companies and self-employed accounted for a total of CARDINAL jobs, or PERCENT of GPE's employed workers, at DATE, he said.
GPE had CARDINAL private companies and CARDINAL self-employed workers at DATE compared with none in DATE, when paramount leader PERSON launched his market-oriented economic reforms.
Many had found jobs in GPE, at the heart of GPE's rust-belt and a city groaning with money-losing state firms, the official said. The city had found jobs for CARDINAL laid-off workers in DATE.
In GPE, CARDINAL redundant state workers had created their own businesses or found jobs in private firms.
The administration official said private enterprise had averaged growth of PERCENT a year over DATE, although that was expected to slow to PERCENT over DATE.
An official of ORG said state enterprises had shed CARDINAL workers in DATE, many of them helped to find work by their former employers or through fledgling labour markets.
GPE's urban unemployment rate was PERCENT at DATE, up by PERCENT from the same time DATE, official figures show.
However, official media have warned that the actual rate could soar to PERCENT by DATE.
CARDINAL out of CARDINAL people entering the job market have found jobs through the new labour markets since DATE, the ORG quoted an official of ORG as saying.
The few who still enjoy the state's ""iron rice bowl"" in terms of assigning jobs include demobilised soldiers and college graduates.
At DATE, GPE had CARDINAL employment service organisations, which offered jobs to CARDINAL people DATE, the official said.",1
"ORG and ORG adjourned their talks on DATE TIME with TIME to go before a midnight DATE strike deadline.
Bargainers, led by ORG President PERSON, took their ORDINAL consecutive TIME off since the union announced on DATE that it will cancel its contract with the automaker at TIME DATE (CARDINAL GMT on DATE).
ORG spokesman PERSON declined to say whether the adjournment was a sign of poor progress in the talks aimed at a new national labour agreement covering the automaker's CARDINAL ORG workers. Typically bargaining runs around the clock when a settlement is near.
The deadline marks the ORDINAL time the ORG has threatened a strike in its DATE negotiations with GPE's Big Three automakers, which up to now have been marked by an unusually conciliatory tone and extremely secretive discussions.
It also came DATE after ORG's CARDINAL ORG members began returning to work on DATE after a DATE strike against the automaker's NORP operations.
In the GPE talks, the CARDINAL sides are still at odds over the same issues that caused the walkout in GPE -- the union's demand for job security and ORG's desire to sell several parts plants and maintain flexibility to shift components work to outside suppliers, a practice known as outsourcing.
ORG wants to modify the ORG contract pattern set by ORG and ORG, which have agreed to guarantee jobs for PERCENT of their current ORG work forces over DATE.
ORG, the least efficient GPE automaker, wants to exclude certain components plants from the employment guarantees, including a door hardware plant in GPE, GPE and an interior trim plant in GPE, GPE.
ORG and ORG buy more of their parts from outside suppliers than ORG does, often from firms that pay their workers significantly less than the $MONEY-an-hour base wage paid in Big Three factories.
ORG said in a statement on DATE that he was not optimistic that a deal could be reached before the deadline but told workers to remain on the job until further notice.
On DATE ORG spokesman PERSON declined to say whether the union was still pessimistic about the talks.
""That was DATE's statement,"" McGhee said. ""We're just saying that the talks are continuing and we're not characterising the progress.""
ORG spokesman PERSON said the automaker was prepared for round-the-clock negotiations, but declined to provide further details of the talks.
ORG, flush with MONEY in cash on its balance sheet and operating earnings that more than doubled in DATE to MONEY, has shown willingness to sustain costly strikes to continue its quest for competitiveness.
Industry analysts estimate the cost of the NORP strike at MONEY, while a DATE strike at CARDINAL GPE, GPE, brake plants in DATE reduced ORG's DATE profit by MONEY.
But the effects of the NORP strike continued to linger DATE, as more of ORG's GPE assembly plants plants ran out of NORP-made parts.","Boosting the pressure on ORG for a new labour agreement, ORG union DATE set a DATE TIME deadline for a strike against the world's largest automaker.
ORG President PERSON said in a statment that union negotiators were not optimistic that a new contract deal could be reached by the deadline of TIME DATE (0459 GMT DATE).
While he did not say if the union's CARDINAL ORG TIME workers would actually strike, ORG said the ORG had notified ORG that it will terminate its extended DATE contract with the automaker if the deadline passes with no agreement. The union typically does not work without a contract.
""ORG members have been advised to continue to work unless notified by their local union,"" ORG said.
""The ORG bargaining team will continue to make serious efforts to achieve a new agreement. While we are not optimistic, we remain hopeful that this can be accomplished prior to the expiration of the current contract at TIME on DATE,"" he added.
The move comes DATE after ORG settled a contentious, DATE strike with ORG union that caused parts shortages that are still forcing the auto giant to shut down some GPE assembly plants.
Although the ORG talks had been moving quickly before the strike in GPE, people close to the negotiations said the CARDINAL sides remain at odds over the union's demand for employment guarantees and ORG's desire for flexibility to shift more parts work to outside, usually non-union suppliers.
Both ORG and ORG have agreed to guarantee jobs for PERCENT of their current work forces over DATE. ORG has resisted the pattern, saying it wants to exclude certain components plants from the employment guarantees.
A ORG spokesman said full-scale ORG negotiations at ORG's GPE headquarters will continue throughout DATE for the ORDINAL time since the strike in GPE began on DATE.
In a statement, ORG chief negotiator PERSON said, ""We remain committed to entering into agreement that balances the needs of our employees and the ORG with the flexibility ORG needs to continue to improve our competitiveness.""
""We've had open and constructive dialogue with the ORG since the talks began and we're hopeful we can focus with the ORG on concluding these negotiations as soon as possible.""
Meanwhile, ORG continued to run out of NORP-made parts at GPE assembly plants. In GPE, GPE, local ORG officials said ORG told CARDINAL workers not to report to work at the automaker's massive GPE complex on DATE.
The facility makes PERSON, Oldsmobile CARDINAL and ORG sedans, as well as V-6 engines and other components.
GPE is the largest of several facilities to cut back production due to shortages of parts following the end of ORG strike DATE.
On DATE, ORG laid off CARDINAL workers at its GPE, GPE, assembly plant in a shutdown that will last DATE. The plant builds the popular ORG PRODUCT and Pontiac Sunfire small cars.
Also on DATE, ORG notified some of the CARDINAL workers at the nearby GPE metal stamping plant they would be idled DATE. Another CARDINAL workers at a components plant in GPE, GPE, will be idled DATE, ORG said.
Excluding the layoffs that will start DATE, ORG said it had a total of CARDINAL workers idled in GPE and GPE on DATE.
ORG's CARDINAL ORG members began returning to work on DATE after they ratified a new contract that puts some limits ORG's ability to shift work to outside suppliers but allows the automaker to sell CARDINAL contested parts plants.",1
"Computer distribution powerhouse ORG is set to hold its widely anticipated initial public offering on Wall Street DATE despite some last-minute delays, including management changes.
""We haven't seen anything comparable in the technology sector with its kind of name DATE,"" said PERSON, editor and publisher of the IPO PERSON, of the new issue.
Anticipating heavy demand, the estimated price on ORG's CARDINAL share offering was boosted to $17 to $MONEY a share DATE from MONEY, said underwriter ORG.
As the world's leading distributor of computer hardware, software and networking equipment to corporate resellers and computer retailers, GPE, Calif.-based ORG is a veritable steam-engine of computer industry growth.
There are really CARDINAL world-class distributors of computer products: Ingram, with revenues expected to hit MONEY DATE, ORG with MONEY and ORG at MONEY.
That size advantage is crucial said PERSON, a leading industry analyst, who heads ORG in GPE, GPE ""Market share isn't just an important factor,"" PERSON said. ""It's the only factor.""
Ingram's suppliers read like a Who's Who of the leading computer brands -- names like ORG, ORG, ORG, GPE, ORG, GPE and GPE Robotics. And like many of those names, ORG is seen as the undisputed leader in its own industry.
Its main customers are not end-users of technology products, but the middlemen of distribution -- corporate resellers, systems intergrators and computer retailers.
""Ingram's got it all: distribution power, brand quality and customer or franchise loyalty,"" Shah said.
Underlying excitement about the new stock is a belief that ORG is positioned to benefit directly from a multi-year computer buying boom expected to take hold DATE or early in DATE and last for anywhere from DATE.
Companies are preparing to upgrade to faster ORG PCs running ORG PRODUCT NT and buy a host of related products made passible by the more powerful machines.
""We are coming close to the proverbial elbow of the hockey stick,"" said PERSON, referring to the hook upwards on sales charts that signifies explosive growth.
In CARDINAL important respect, however, ORG should not be classified with other top technology names famous for their explosive earnings growth and spiraling stock prices.
Ingram competes in a brutal low-margin business that has more in common with supermarkets or trucking than computers -- its profit margins have in fact declined to PERCENT in DATE from PERCENT in DATE.
The company's path to Wall Street has not been without its detours and mishaps.
An anticipated public offering was temporarily derailed DATE when Linwood ""Chip"" Lacy -- the engineer credited with driving ORG growth over DATE -- resigned as chairman and chief executive.
Ingram located a prominent replacement in PERSON, the former head of mainframe software maker ORG until its DATE acqusition by ORG It named PERSON chief finacial officer DATE.
But any ORG doubters will remain on the sidelines DATE.
""It is definitely one of the best offerings of DATE. There is great demand,"" said PERSON for shares of the stock. ""I think it will remain strong and by DATE, it could be a $MONEY stock,"" he added.","NORP brewer to leisure group ORG posted a PERCENT increase in DATE profits on DATE to MONEY (MONEY) and chairman Sir PERSON said he expects recent levels of growth in its markets to continue.
In an interview chief executive PERSON, in ebullient mood, said NORP consumers were feeling better, spending much more on leisure and the upward trend was set to roll for DATE.
""I think the consumer position in GPE is favourable for CARDINAL or three years. Unless we have some kind of catastrophe, the prospects in GPE are good. All the economic predictions from the banks point to low inflation and growing consumer confidence,"" said PERSON.
The company's hotels business doubled profits and sales in DATE. Like-for-like sales were up by PERCENT with occupancy levels and room rates much higher.
""The number of foreign tourists to GPE is growing very, very fast. They spent CARDINAL to MONEY DATE and CARDINAL of that in GPE,"" he said.
""That's been growing very fast in DATE and its forecast by GPE (forecasting centre) to be the fastest growing sector of the leisure market.""
NORP flocked to ORG's CARDINAL ORG hotels during DATE for the ORDINAL time as a result of a marketing link-up with ORG, adding PERCENT to occupancy levels at some ORG hotels.
ORG acquired health and sports club group PERSON for MONEY and a chain of CARDINAL ORG hotels in GPE for CARDINAL in DATE.
The company also owns a chain of CARDINAL low budget PRODUCT, which PERSON said will be added at the rate of CARDINAL every 10 days to reach CARDINAL by DATE. Consumers also spent more eating out during DATE with ORG, jointly owned with ORG, and TGI DATE's sales ahead by PERCENT.
The ORG chain of restaurants increased like-for-like sales CARDINAL pecent and profit by PERCENT. The company's restaurant and leisure division saw pretax profits rise PERCENT to CARDINAL.
ORG, which includes casual dining out pub chain PERSON, saw profits grow by PERCENT to CARDINAL and total sales by PERCENT. But sales from ORG's CARDINAL leased pub estate were down PERCENT.
""The main driving force on like-for-like sales is on food pubs and restaurants and we also opened a lot more new places that appeal to people who would not normally go to pubs.""
ORG's beer company increased profits by PERCENT to MONEY on sales which were ahead PERCENT pushed higher by the acquisition of the PERSON and PERSON brands. ORG and Stella Artois produced the strongest brand performances.
However gearing -- the ratio of debt to equity -- more than doubled to PERCENT, after a spate of recent acquisitions including ORG of NORP-style urban bistros ORG and FAC, for CARDINAL in DATE.
ORG shares rose CARDINAL to ORG on the results, which beat most analysts' forecasts.",0
"NORP building materials company PERSON reported a PERCENT slip in DATE pretax profits on DATE, but despite topping analysts' forecasts in a tough market shares slid on the poor outlook for mainland LOC.
Pretax profits for DATE fell to MONEY (MONEY) from CARDINAL. But sales rose to CARDINAL from MONEY and the dividend was raised to MONEY from CARDINAL DATE.
The fallback in profits had been flagged in a profit warning DATE.
But PERSON survived the difficult conditions better than others partly thanks to its lower NORP exposure. The group has PERCENT of its sales in the GPE
Chairman PERSON reported organic sales growth across all CARDINAL divisions blaming the lower profits on ""poor economic conditions in mainland LOC and volatile lumber prices in the GPE""
""The results for DATE should be set against the background of economic difficulties in GPE and GPE and a flat home (GPE) market,"" he said.
But in an interview with ORG chief financial controller PERSON said ""I do not see an upturn in DATE in GPE, GPE or GPE.""
He denied it would seriously dampen profits DATE, explaining that conditions remain stable.
The GPE market showed a glimmer of recovery, with spending on repair and maintenance of homes moving ahead.
But PERSON said the housebuilding sector had seen companies using up existing stock so there has been little feed-through to companies like PERSON. He predicted it would be spring before the industry felt the benefits.
The finance chief also expressed concern about the threat of an interest rate hike in the GPE ""PERCENT would not be a big deal but PERCENT could damage confidence.""
The caution in all its markets was enough to push shares lower. By DATE ORG they were down MONEY at CARDINAL.
The new chief executive PERSON did not signal any departure from the group's existing strategy.
But PERSON signalled the possibility of some change ""We are keen to keep the good things. If anything it may mean a change of style. ""But there are no sacred cows in PERSON. We will take difficult decisions if needed.""
Young said in the interim statement he wanted to look to expansion into new regions and products. With gearing at PERCENT, there is scope to raise it to PERCENT if a big acquisition comes along, said PERSON.
$1=.6270 Pound)","All CARDINAL ORG companies - due to be spun off as part of the demerger process - had received takeover approaches for part or all of the units in the chemicals, tobacco, building and energy sectors.
PERSON, chairman and chief executive of ORG and a ORG group board member, told ORG in an interview on DATE ""We've had interest for every business in ORG."" He said the ""expressions of interest"" included possible offers for whole divisions as well as individual companies within each of the CARDINAL divisions to be floated separately.  
Landuyt, who will head up the GPE chemicals giant EVENT which had DATE sales of MONEY stg and CARDINAL stg in operating profit, told ORG his own empire had received approaches for all CARDINAL of its units - Quantum, ORG and ORG.
But he said that the board had decided against pursuing any of the approaches.
Landuyt also defended ORG's decision to incorporate a so-called ""poison pill"" clause to protect it from a hostile takeover. He said it was necessary to prevent a predator buying up shares on the cheap and launching an undervalued bid.  
""We do expect selling pressure (for Millennium shares) for DATE,"" said PERSON who predicted selling pressure from GPE investors.
""We don't want a temporary drop in the shareprice to allow someone to get a commanding position and launch a bid which does not offer full value.""
He said the poison-pill arrangement, which under law in the GPE state of GPE means that a company gaining a PERCENT stake in GPE would see those shares become worthless. They would carry no vote or liquidation value unless the board had been approached ORDINAL.  
However, the poison pill clause ends after DATE, said the chemicals company chief, freeing the way for a possible bid.
He said if a full-value bid was launched before then, the board would be under a duty to examine it.
-- GPE newsroom +44 CARDINAL 5427717",1
"ORG posted improved results in DATE, the company said DATE, as its new business structure began to pay off, while ORG reported better-than-expected profits.
ORG, based in ORG, GPE, reported DATE profit of MONEY, but a loss of MONEY a share after paying MONEY in dividends on preferred stock. That compared with a net loss of MONEY, or MONEY a share DATE.
Revenues for DATE were MONEY, up PERCENT from MONEY in DATE.
ORG said revenues were up at each of its CARDINAL business units: information services, computer systems and computer services. The CARDINAL units were formed in a restructuring.
""After DATE of operations under the new business structure, our CARDINAL businesses ... are more cost-competitive, streamlined, and focused on capturing opportunities in their respective markets,"" said PERSON, chairman and CEO.
ORG shares closed at $MONEY, up MONEY, on ORG.
ORG said its computer systems group has made excellent progress in working through a major product transition to its new lower-cost mainframes, which have experienced a delay as it tested problems with a new chip.
ORG said while the transition continued to affect its results, sales of computer systems were up PERCENT and profitability in this unit ""rebounded nicely"" in DATE.
Analysts said a sale of CARDINAL election systems in GPE helped its computer systems unit. Revenue increased strongly both in GPE and internationally.
""The NORP deal was over MONEY,"" said PERSON, a ORG analyst.
ORG said it planned to meet its revised shipment schedule for its new mainframe computers, which are a major transition to a new lower-cost architecture. Analysts said they expected the high-end versions of these systems to begin shipping around DATE and DATE.
Separately, ORG of GPE, GPE, reported a better-than-expected DATE, citing a positive contribution from its once-beleaguered software business and improved sales of its new computers.
Stratus reported DATE income of MONEY, or MONEY a share, compared with a loss of MONEY, or MONEY a share in DATE.
Revenues totalled MONEY vs. MONEY DATE.
Stratus's results were better than Wall Street expectations. According to ORG, the consensus estimate was for DATE earnings of MONEY a share. The company's shares closed at $MONEY, up MONEY, on the ORG.
Stratus said its software business contributed to earnings for the ORDINAL time DATE, as the benefits of its recent restructuring began to take effect.
""With a sharpened focus on the best opportunities, we expect that results will continue to improve in this part of our business,"" said PERSON, chairman and CEO, in a statement. Stratus restructured its software unit in DATE.
Hardware revenues were up PERCENT on a sequential basis and were up PERCENT vs. the DATE period, as its PERSON computer line saw strong sales growth. It expects even stronger PERSON growth in DATE.
Jones of ORG said its new ORG systems, which run ORG NT operating system, will also be a contributor when it begins volume shipments DATE.
Stratus develops so-called fault-tolerant computers specifically designed with a backup system in case of system failures.","The stock of ORG, DATE dubbed ""I've Been Mugged,"" is back in style and hitting historic highs on Wall Street, where investors say shares of the world's biggest computer company can continue rising.
The rally in ORG stock started on DATE when an influential analyst, PERSON of ORG, raised his DATE price target on ORG to $MONEY from MONEY.
Since DATE, ORG's shares have soared PERCENT and touched $MONEY on DATE, a level last seen before the DATE stock market crash. Investors called the stock a relative safe haven among technology shares. ORG hit an all-time high of $MONEY in DATE.
The stock ended at $MONEY DATE, off $MONEY, on some mild profit-taking, but the shares are still up PERCENT since DATE, when they stood at $MONEY.
When ORG was losing money and restructuring, and after its ORDINAL dividend cuts in DATE, the stock sank MONEY and gained the moniker of ""I've Been Mugged"" on Wall Street.
Now, with a steady stream of profits and many bullish opinions by analysts, some analysts are again viewing the stock as a bellwether that is also helping fuel the rally in the Dow Jones industrial average.
CARDINAL question now hounding investors is whether it would be wise to jump in and buy ORG, or wait for the stock to decline.
Market technicians and some analysts who follow ORG say that the once-beleaguered stock still has room to climb.
Some analysts still have buy ratings on ORG, even at these levels, because its value remains low relative to many other technology stocks, a point ORG officials have tried to bring home to investors in DATE.
Apparently, many on Wall Street are hearing the message, and some are encouraged by ORG's progress and double-digit revenue growth in areas such as services.
""Investors are looking for more defensive plays with companies with solid earnings outlooks,"" said PERSON, an analyst at ORG. ""It still sells at a relatively low valuation, relative to the technology sector.""
Technology stocks typically trade at a price CARDINAL times their estimated earnings. But even with its latest surge, ORG is still trading at a only about 14 times its current estimates.
NORP, who use charts, graphs and computer analysis without considering company fundamentals, said that ORG's shares have recently broken out of CARDINAL previous resistance levels, one at $MONEY and another at $MONEY, and are now poised for further gains.
""At these levels there really isn't much resistance, this can continue to work higher,"" said PERSON, a senior technical analyst at ORG. Resistance refers to a price ceiling where a stock price consolidates.
""I think the primary trend remains up,"" said PERSON, a technical analyst at ORG ""The stock is getting a little extended on a short-term basis.""",1
"GPE has taken its cue from ORG chief PERSON and tried to talk its raging stock markets lower but some investors said GPE regulators did not need to shout.
GPE's official ORG ran a front-page commentary on DATE calling on investors to behave rationally in investing in the market, warning that what goes up must come down.
The commentary, carried prominently in major financial newspapers as well, also reminded the investing public that the safest place to put its money was in the bank.
Many NORP officials and stock market brokers noted similarities to ORG Chairman PERSON's now famous remarks DATE about ""irrational exuberance"" of GPE markets.
PERSON's remarks, which did not specifically mention stocks, were clear enough to send share markets around the globe into a steep, if brief, fall. Since then many investors have remained cautious.
""There were definite similarities in approach,"" said a stock market policy official who declined to be identified.
""They (regulators) are looking at the same objectives -- the stock markets were too high and they hoped the markets would move lower,"" he said.
A spokeswoman for ORG chuckled over the suggestion that PERSON might have inspired GPE's action.
""Our objective was to bring some stability to the market,"" she said without elaborating.
Whatever the objective, many brokers and investors were not entirely sympathetic with the result.
""The phrasing (of the commentary) was much too tough,"" said an angry broker in GPE, home of CARDINAL of the nation's CARDINAL officially approved stock markets.
""This was over the top,"" he said.
The commentary called up images of Wall Street's DATE crash while it lashed out at big investors for manipulating the market and blamed brokers for improperly extending overdrafts to finance stock purchases.
The state media also came under criticism for helping to pump up the market by urging investors to buy shares.
DATE, the bourses in GPE and GPE in southern GPE slapped curbs on share movements, limiting them to a daily PERCENT in either direction.
GPE's A share market for domestic investors fell the PERCENT limit on DATE, sliding CARDINAL points to CARDINAL while GPE's A share market lost PERCENT, or CARDINAL points, to CARDINAL.
The B share indices, which track shares supposedly reserved for foreign investors, closely mirrored the A share falls.
Both GPE and GPE had seen huge run-ups in share prices DATE, with most of the gains made in DATE. GPE had surged PERCENT from a trough to the peak DATE, while GPE had climbed PERCENT.
Some brokers were sympathetic to the plight of regulators.
""The market was clearly very speculative,"" said a GPE-based broker. ""I disagree with some people over how far ahead of itself the market actually was but there was bound to be a considerable pyschological impact from any action by the regulators.""
Brokers said that part of the reason behind the steep rise was the lack of alternative investments.
CARDINAL interest rate cuts DATE had played a key role in luring money into the stock market.","CARDINAL of the top CARDINAL publicly traded GPE health maintenance organizations are expected to report lower or flat DATE profits as the industry shuts the books on DATE and moves warily into DATE.
Dissatisfied with narrow profit margins, Wall Street is turning cautious on many ORG stocks, although plenty of merger and acquisition action underlies the sector and is supporting the share prices of firms seen as targets.
""Consolidation will remain at a high level,"" said ORG managed healthcare analyst PERSON.  
As HMOs report DATE results over DATE, CARDINAL companies are expected to defy the earnings slump.
Booming Oxford Health Plans Inc has been a bright spot in the gloom DATE and is forecast to post profits PERCENT higher than the DATE level, analysts said.
ORG is expected to show PERCENT earnings improvement, although DATE will be complicated by a pending acquisition of ORG
""It's sort of a throw-away DATE for"" ORG, said PERSON analyst PERSON.  
The problem that most HMOs were unable to solve throughout DATE was a costly mismatch between medical cost inflation forecasts that fell short and an inability to push through compensatory premium increases. A margin squeeze resulted.
""DATE there may be room for a little bit of (premium) expansion as DATE unfolds, but not enough of an increase to make it possible for these companies to restore margins to previous levels,"" ORG said.
Citing small premium rises so far in the DATE renewal period, GPE said: ""Uncertainties regarding profitability will remain, albeit at a reduced level DATE.""  
WORK_OF_ART CALL CONSENSUS QTRLY EARNINGS FORECASTS
Company				Qtr   EPS estimate   DATE ORG	 CARDINAL	 $MONEY	   $MONEY
ORG		     Q4	 $MONEY	   $MONEY
Mid Atlantic Medical   Q4	($MONEY)	  $0.33
ORG			Q4	 $MONEY	   MONEY
ORG		  Q1	 $MONEY	   $0.88
Physicians Health     Q4	($MONEY)	  $0.42
Sierra Health	    Q4	 $MONEY	   $MONEY
ORG	ORG	 $MONEY	   $ORGHealthsource		ORG	 $MONEY	   MONEY
NOTE: Parentheses indicate loss.
((--Chicago Newsdesk 312-408-8787))",0
"CARDINAL of GPE's most prominent dissidents, PERSON, will likely receive a harsh sentence for the charge of plotting to overthrow the government, his mother said on DATE.
PERSON would plead not guilty to the capital charge when his trial at FAC begins on DATE, said the dissident's mother, PERSON.
""The court...giving my son a harsh sentence even though he is innocent is very likely to happen,"" PERSON told ORG. ""I dare not rule it out.""
She said court officials told her the verdict could be delivered as early as DATE or in DATE, adding that family members have been under surveillance in DATE.
PERSON, DATE, who vanished into detention in DATE, faces a minimum of DATE in prison and a maximum penalty of death for allegedly plotting to overthrow the government.
The court has refused to give details of ORG's trial other than that the dissident has been charged with plotting to overthrow the government. But one official has said PERSON could appeal to ORG if convicted.
The GPE-based ORG said DATE the chances of an acquittal were slim because ORG has not had adequate time to prepare a defence.
The dissident's family has found a lawyer willing to defend the former student leader after being given just one day in which to do so.
The human rights group said NORP criminal trials seldom respect the presumption of innocence, and defence lawyers are generally restricted to arguing mitigating circumstances for a reduced sentence.
ORG's court appearance would likely be held out of the public eye, as was DATE trial of PERSON, regarded as the father of GPE's tiny, struggling democracy movement.
The NORP authorities have been quiet on a request by ORG in GPE to send observers to ORG's trial, diplomats said.
NORP senator PERSON, former GPE attorneys general PERSON and PERSON, and former NORP solicitor-general PERSON have also said they want to observe ORG's trial.
ORG spokesman PERSON on DATE shrugged off questions from reporters about the status of the requests, saying ORG's trial was GPE's internal affairs.
GPE has repeatedly come under fire from the LOC for human rights abuses. It says foreign intervention in GPE's internal affairs is not welcomed.
PERSON's mother, a DATE museum researcher who has no background in law, would attend the trial as CARDINAL of CARDINAL defence lawyers. His father and a sister would be allowed to sit in.
The mother has said the dissident was calm and mentally prepared for a harsh sentence, although she has said his health has deteriorated during his detention.
ORG has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in pro-democracy demonstrations in GPE's FAC that were crushed by the army in DATE with heavy loss of life.
He was active after his parole in DATE, defying persistent police surveillance to join a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.
GPE has recently cracked down on the few remaining dissidents who have not fled into exile or been jailed.","GPE's parliament, eager to shed its rubber stamp image, has vowed to crack down on lawless officials by intensifying supervision of the government's executive and judicial branches.
PERSON, vice-chairman of ORG, had conceded that the problem of officials disregarding the law was very serious in some departments, major newspapers said on DATE.
""Some officials are not strict when implementing the law and do not investigate legal violations,"" PERSON told the opening of a DATE seminar in the booming southern city of GPE on DATE.
""These phenomena are very serious in some regions and departments,"" said ORG, a member of the ruling ORG CARDINAL-member ORG.
Official media frequently carry reports of abuse of power by local officials, who run their areas of jurisdiction as virtual fiefdoms. The word of an official is often taken as law.
""Some officials go as far as to replace the law with their word,"" PERSON said. ""There are laws but some officials do not do things according to the law.
""Some use power to suppress the law, those enforcing the law break the law and some take the law into their own hands.""
Some NORP analysts saw ORG's remarks as an attempt to increase the say of parliament in NORP politics.
Tian and his mentor, PERSON, chairman of ORG, who sits on the party's omnipotent CARDINAL-member ORG, have moved in DATE to boost the status of parliament.
Tian urged lawmaking bodies at all levels to step up supervision of the executive and judicial branches.
""Supervision is a very weak link of the work of ORG,"" ORG said.
He urged all lawmakers to conscientiously supervise trials and the work of the government, prosecutors and police.
DATE, a court took TIME to reject the appeal of dissident and former student leader PERSON and uphold an DATE jail term for conspiring to subvert the government.
Another dissident, PERSON, attempted suicide in DATE by jumping from a ORDINAL-floor window because he could no longer stand beating by guards at a labour camp, his family has said.
The labour camp denies any wrongdoing.
PERSON, who broke his right leg and smashed CARDINAL teeth, has been discharged from hospital and sent back to the labour camp, where he is serving DATE of re-education through labour for sending a petition to parliament demanding the release of all political prisoners.
Re-education through labour is a form of administrative punishment that can be imposed by authorities without recourse to prosecutors or the courts.
Western human rights activists say the punishment is increasingly favoured by the authorities as a way of removing dissidents from circulation without the complications and publicity of a trial.",1
"DATE after its dramatic expulsion from GPE, scandal-hit ORG is finding its misfortune may in some ways have been a blessing in disguise, analysts say.
The painful fall-out from its MONEY bond-trading loss in GPE, they say, forced the bank to take some of the bitter but necessary restructuring measures that other NORP banks have been reluctant to swallow.
""Following its expulsion from GPE and inspections by ORG and ORG, ORG was able to eliminate management risks from its corporate structure,"" said PERSON, a financial analyst at ORG
""It (ORG) could be a model for restructuring at other banks, which still lack a sense of crisis despite DATE in their share prices,"" she said.
By DATE, Daiwa""s restructuring efforts are likely to help boost its DATE operating profits MONEY (MONEY), despite the negative impact of asset reductions overseas, GPE said. In DATE ORG forecast operating profits of MONEY (MONEY).
A ORG official agreed that the harm done by the bond-loss scandal was not as great as initially expected.
""We feared that we might suffer substantial damage from the withdrawal from GPE markets,"" ORG bank director PERSON told ORG in a recent interview. ""But the damage was not great.... Our customers stayed calm and have been supporting us.""
""The strategies we have taken (since the withdrawal from GPE) have not been wrong,"" he added.
In DATE, DATE after news broke that a ORG trader in GPE lost MONEY on unauthorised deals, GPE bank regulatory authorities ordered ORG to shut down its GPE operations. ORG pleaded guilty to charges including conspiracy and fraud and paid MONEY in fines.
ORG also placed temporary restrictions on Daiwa""s operations and ordered the institution, Japan""s ORDINAL largest commercial bank, to work out a drastic streamlining programme.
DATE, ORG announced a DATE plan to focus on its CARDINAL strengths: the PERSON area around GPE in western GPE, where it has a strong customer base, the NORP market, and the trust business, which includes pension fund management. ORG manages more pension fund money than any other NORP bank.
It also decided to shut CARDINAL offices, including CARDINAL overseas, by DATE, and by DATE had cut its assets to MONEY (MONEY) from MONEY (MONEY) DATE. ORG also plans to reduce the number of its employees by CARDINAL by DATE, from CARDINAL DATE.
But some analysts insisted the bank""s restructuring had not gone far enough, noting it was still saddled with MONEY (MONEY) in problem loans, or PERCENT of loans outstanding, as of DATE.
PERSON, ORDINAL vice president at ORG branch, added that the expulsion from GPE was bound to damage Daiwa""s future business.
""I doubt whether ORG can continue to manage its international business without GPE operations,"" he said. ""The business environment surrounding NORP banks will become much tougher and ORG must make extra efforts to streamline its business, even halving its assets.""
Several analysts have suggested that Daiwa""s woes may force it to combine with another financial institution. DATE, ORG said ORG and ORG, its largest shareholder, may join under the same holding company.
But Daiwa""s PERSON dismissed such talk for now.
""We should not forget that we are still in the process of recovering our creditworthiness.... Although there is talk about mergers or a holding company, this is not an issue for us at the moment,"" he said. ($=MONEY)","Everything old is new again in the ageing gold zone near Timmins in northern GPE.
Exploration has exploded in the area, which has been mined since DATE.
While most NORP exploration companies are off making inroads in LOC and LOC, a handful of innovative and optimistic junior companies are staying behind, hoping to strike gold on their home turf.
Established producers in the area, QUANTITY (QUANTITY) north of GPE, are expanding and sinking MONEY into new exploration.
""We've had lots of speculative money coming in. It's got a lot of people interested,"" said PERSON, geologist for ORG and Mines. What better place to look but around Timmins, where there's been a history of gold.""
Junior explorer ORG has attracted the most attention, after hitting mineralisation DATE just outside the traditional mining camp.
""We kind of went against the trend,"" said PERSON, vice president of ORG As everyone else was going off to GPE and GPE and LOC and LOC, we sat here in Timmins and put together a large land position.""
Band-Ore's find inspired other exploration companies to set up in the area and a couple of them have drilled some ""interesting"" holes, said mining analyst PERSON with ORG.
Major companies with established mines in the area have also been exploring and expanding.
ORG said this autumn it discovered more gold on its Timmins and nearby GPE holdings and decided to expand production. It is now reshaping operations to put Timmins at the centre of its production.
ORG is considering an open pit mine at nearby LOC and ORG has been steadily increasing its reserves at its ORG and it has set up a separate exploration company to search out more prospects in the area.
Gold giant ORG is turning its old underground deposit into a huge, low-cost, low-grade open-pit.
""CARDINAL of the things that's rejuvenating the area is GPE looking at their operation as a large, low-grade open pit as opposed to an underground operation,"" said ORG.
A new emphasis on large, low-grade deposits has changed the way GPE approaches mining in the area, confirmed PERSON, senior geologist for ORG in Timmins. ""Our ideas have changed, and certainly the economics have changed for us.""
The major producers have created an intricate infrastructure in the Timmins area that makes it attractive for exploration companies, said PERSON. ""We've got roads, workforce, cheap power and reliable workers. It can really help to keep the cost down.""
But new technology has been the biggest boost for exploration in Timmins. Most of the old discoveries in the area were found where mineralised rock lies near the ground surface, said PERSON.
The areas being explored are covered with a thick layer of sand, gravel and clay. ""It acts as a very effective mask. The gold has no signature,"" said PERSON.
With new exploration equipment, junior mining companies -- their pockets lined with the riches of the ongoing boom in exploration stocks -- can find fresh drilling targets.
But exploration in the area is expensive. And it takes more than money and persistence drilling to hit gold.
Band-Ore disregarded the traditional beliefs about geology in the area and explored in new directions.
""We kind of went contrary to that, reinterpreted some geophysical data and some of the old work done in the area, and came up with some new ideas,"" said PERSON.
""It's one of those ideas that paid off.""",0
"GPE's state-owned electricity utility ORG (EDF) said on DATE it had made a MONEY asset gain selling its PERCENT stake in GPE's ORG to GPE's ORG.
""It allows us to realise a big asset gain and the deal is also the start of an alliance with PERSON,"" ORG chairman PERSON told a news conference.
EDF officials said the alliance with Statkraft, also a state-owned utility, would mainly be in the form of cooperation in hydroelectric projects in southeast LOC.
EDF is selling its CARDINAL class A and CARDINAL class C shares in ORG to Statkraft for a sum of MONEY. This allows the NORP firm to increase its stake in GPE to PERCENT. The formal transfer of ownership will take place in DATE.
EDF took its stake in GPE, GPE's biggest power firm, DATE but it changed its strategy in DATE when its GPE unit obtained a PERCENT stake in ORG, GPE's number CARDINAL power group. It later raised the stake.
Northelec is a joint venture with ORG.
""It's better to have a big stake in a small company than to have a small stake in a big company,"" Alphandery said.
""At PERSON we did not even have a seat on the board, at ORG we have a shareholders' pact allowing us to effectively control the company,"" he added.
EDF has a shareholders pact with GPE's industrial family PERSON and jointly they own PERCENT of ORG.
""We saw the strategic value of the LOC market and we have been able to cash in on the asset gain because the value of PERSON shares has risen a lot,"" he said.
Alphandery, a former economics minister named to EDF in DATE to replace ORG who was an appointee of the former NORP government and an aide to PERSON, said the sale was proof of ORG's willingness to ""realise an asset gain when there is one.""
He did not expect further sales from ORG's international portfolio. The NORP utility in DATE alone has made commitments totalling MONEY in foreign stakes and ORG said EDF would continue its expansion mainly in the GPE area in LOC and in southeast LOC including GPE.
EDF obtained a stake in GPE's GPE power utility PERSON and Edenor in GPE. DATE, it obtained stakes in CARDINAL NORP companies. It als has investments in GPE, GPE, GPE, GPE and GPE.
""We can use the asset gain on PERSON to finance our international expansion,"" Alphandery said.
""This refocusing of NORP strategy shows ORG's desire to be a major international and industrial operator, actively managing its investment portfolio,"" ORG said.
EDF's decision to leave PERSON makes GPE's ORG, a unit of ORG, the biggest shareholder with PERCENT of shares and PERCENT of votes. The city of PERSON is ORDINAL biggest with PERCENT of shares and PERCENT of votes, followed by Statkraft and some pension funds.
PERSON has a PERCENT stake in ORG and PERSON's ORG.","ORG is expected to report on DATE that it had a loss in DATE amid declining sales of its ORG computers, but a turnaround may be at hand.
ORG's management is likely to tell investors that the beleagured company is getting closer to resuming profitability, possibly as early as DATE, analysts said.  
""The financial condition of the company has been strengthened,"" said PERSON, an analyst at ORGamp; ORG in GPE.  ""Questions of their long-term viability don't come up as often anymore.""
In DATE, ORG has reported huge losses as customers have defected to cheap ORG-compatible personal computers running ORG easy-to-use PRODUCT software.  By cutting costs and firing workers, ORG has managed to whittle its losses.  
Wall Street expects ORG, based in GPE, GPE, to post a loss of $MONEY a share, according to a recent survey of CARDINAL analysts by ORG.  In DATE, ORG reported net income of MONEY, or $MONEY a share, on revenue of MONEY.
ORG's new management, under former ORG chief PERSON, has done a good job cutting expenses, analysts said.
ORG also has managed to raise enough cash to be out of a dire cash shortage, which threatened to hamper day-to-DATE operations. The company could even generate a little cash from its business DATE, analysts said.
The trick now is to convince consumers that the ORG is a worthy competitor to PC clones.",0
"GPE's DATE steel maker, ORG (BHP), has been warned it risks falling behind global rivals unless it restructures its big, ageing plants and maps out a clear offshore strategy.
ORG long-term strategy came under the spotlight on DATE after credit rating agency ORG wrote in a steel industry review that ORG faced its toughest test yet as it positioned itself to tackle rapidly developing NORP markets.
S&P's comments, made in the latest edition of its journal ORG, comes as GPE's ORG plans to build a MONEY steel mill in GPE in what has been termed a ""wake-up call"" for ORG.
""A wake-up call is not a bad way of looking at it,"" a corporate analyst told ORG, describing the competition to supply steel into NORP economies as intense.
""It's not that they (BHP) have been flat-footed; it's just that there are (bigger) global players out there with MONEY to set these things up,"" he added.
An PERSON and its little known minority NORP partner, ORG, launched DATE a plan to build a new-technology steel mill expected to produce annually QUANTITY of steel slab for mainly NORP consumption.
The move has been seen as a direct challenge to ORG, which dominates the NORP market with steel products made from old-technology plants on the country's east and south coasts. The youngest of its CARDINAL big steel mills opened DATE. These old mills also supply raw steel for ORG's more modern offshore operations, which have so far focused on downstream steel mills in LOC making higher-value products tailored for such industries as car-making and construction.
BHP produces QUANTITY of steel per worker per year using predominantly coal-fired blast furnaces, but by DATE new-technology mills using electric arc furnaces will enable steel operators to reach QUANTITY per worker, S&P said.
""In many respects, ORG future earnings quality will depend on the successful implementation of this international growth strategy and the critical selection of steel-making technology for future domestic expansion,"" S&P analyst PERSON wrote in the DATE edition of ORG.
ORG is expected by DATE to announce the results of a DATE review of the steel division's long-term strategy, begun DATE after the group reported a dive in steel profits and a big writedown of its GPE mill near GPE.
ORG has since indicated it is prepared to close the DATE GPE mill if need be.
Speculation about the closure of GPE, and with it the loss of CARDINAL of jobs, has prompted a parliamentary inquiry into the future of GPE's steel industry -- virtually a synonym for ORG, which supplies PERCENT of the local market.
ORG's local dominance and its production costs, still low in global terms, will give it some comfort over DATE, but the so-called ""Big Australian"" must rationalise its assets at home to realise its long-term goals in LOC, analysts said.
""ORG will need to define its domestic investment vision over that period or risk falling behind the competitiveness of its global competitors,"" S&P's ORG said.
A stock analyst suggested ORG may even resolve to abandon raw-steel making capacity and begin buying it instead from cheaper producers, but a ORG spokesman doubted this.
""I would not see that,"" spokesman PERSON told ORG. ""We have got the benefits of relatively low-cost raw materials on our doorstep and good transport arrangements and energy.""
-- GPE bureau CARDINAL 9286-1421","GPE manufacturer ORG said on DATE trading conditions in DATE had been softer than expected and it now expected DATE profits to be around the same level as DATE.
""I've only seen DATE's results and verbal figures for DATE, but it will depend on how the rest of DATE unfolds,"" ORG managing director PERSON told ORG.
""It's looking a bit softer than we would like. We were really budgetting for an economy that was stretching a touch but it doesn't look like it's going to do it,"" PERSON said.  
PERSON said in an interview the DATE profit would be similar to calendar DATE's net profit of MONEY.
""I think it's going to be much the same figure,"" he said.
PERSON cited the flat NORP economy, relatively weak automotive sales world-wide and the cost of developing new projects as the major constraints on short-term profit growth.
But he said the domestic economy should pick up in DATE and put the group on track to achieving its goal of PERCENT annual growth in sales and earnings before interest and tax.  
But PERSON, speaking after the announcement of a MONEY, DATE contract to supply brake parts to a NORP vehicle manufacturer, seemed to be more concerned about coping with rapid growth than with a sluggish local economy.
Pacific BBA, which makes car parts, plastic packaging and construction products, has budgeted to spend MONEY in DATE in capital expenditure, PERSON said.
""I think it (capital expenditure) will be CARDINAL times depreciation (charges) for DATE,"" he said, adding that this was around twice the average for manufacturers.  
The group is examining a range of expansion opportunities in LOC and LOC, requiring DATE capital investments of MONEY.
""We have people looking full time at these opportunities,"" he said. But the group must expand cautiously, he added.
""We've just got to be careful we don't over-stretch ourselves,"" he said. ""Growth holds back your short-term earnings,"" he added.
PERSON rued the failure of ORG recent bid for fellow NORP manufacturer ORG, which was acquired instead by U.S.-based ORG  
Pacific BBA needs to become bigger or find a big partner to seize major new opportunities, especially in the automotive industry where the group wants to become a global niche player, he said.
Asked if its small size in world terms could become a brake on ORG growth, PERSON said: ""It's not been yet, but it could become one and we were trying to say to the market when we were trying to buy Azon that this could give us the ability to do anything we want to.""
-- GPE bureau CARDINAL",1
"Resources and steel group ORG is expected to report DATE DATE net profit on DATE, but share analysts say GPE's biggest company is likely to be spared another stock market mauling.
BHP, still licking its wounds with sellers having wiped around MONEY off its market value since DATE, is tipped to post a DATE net profit of MONEY, down from MONEY DATE, according to analysts' forecasts.  
The result, for DATE, is expected to include MONEY in net proceeds from asset sales, but slight improvements in the battered copper and steel divisions are also likely to emerge, the analysts said.
ORG's share price, which hit DATE high of A$MONEY in DATE, has been on a mostly downward roller-coaster ride for DATE as copper and steel prices turned sour, and analysts revised down their near-term profit forecasts.  
But the copper price has firmed in DATE, steel markets are thought to have bottomed, and brokerages are again reworking their outlooks. ORG shares have also rebounded, closing on DATE at A$MONEY after hitting A$MONEY in DATE.
""It's one of the few companies where analysts are revising the results upwards,"" said a fund manager's share analyst.
The CARDINAL analysts contacted by ORG on DATE gave widely varying forecasts for interim profit, ranging from MONEY to a high of MONEY. The analyst tipping MONEY said he believed others had forecast even lower numbers.  
But the analysts agreed the interim result would show signs of improved performance in copper and steel, though they would fine tune their estimates after seeing the group's DATE production data, expected to be released on DATE.
""They have definitely had DATE in petroleum and I guess they're struggling in minerals and copper and steel,"" a GPE-based analyst said.
""They are doing a good job given the environment.""
Most analysts said they expected a modest profit recovery for DATE CARDINAL. ORG reported a PERCENT drop in pre-abnormal net profit of MONEY in CARDINAL.  
BHP Petroleum, which in DATE of CARDINAL ranked behind the minerals and steel divisions in terms of profit, will be ORG's biggest earner in the interim result to be released on DATE, said JB Were and Son analyst PERSON.
""The asset sales are in there though,"" he said.
The analysts expect BHP to book MONEY in asset sales as operating profit, due in effect to gains on the sale of ORG's stake in the LOC/Monan oil and gas fields in LOC and of its interest in the ORG gas field and PERSON block in GPE.  
ORG also made a MONEY profit from the sale of its PERCENT stake in an undeveloped gold prospect, ORG, in GPE. But this was offset by the MONEY loss booked on the sale of its PERSON gold assets.
ORG will not book any of these asset sales as abnormal items, deeming them too small to be taken below the line, CARDINAL analyst said. But another analyst confessed he initially felt they were being taken above the line to mask the core result.  
""I thought that was the case and then the oil price shot up and copper is a bit better, so without that number (for asset sales) they would have had a reasonably good profit number anyway,"" he said.
ORG's FAC operation should creep back into profit in DATE after posting a loss on a full-cost basis in DATE results, he said.
BHP bought GPE DATE for MONEY, making it the world's ORDINAL biggest copper producer. But the price tag has come under heavy criticism.  
ORG is expected to book a net abnormal gain of MONEY from the settlement of its dispute with the GPE state government over a federal tax on LOC gas revenues.
-- ORG CARDINAL-3 9286-1435","The computer software and instruction kit for the death machine used in the world's ORDINAL legal mercy killing will soon be available on the Internet, the NORP doctor who developed it said on DATE.
Dr PERSON, who DATE connected cancer sufferer PERSON to the machine in GPE's outback GPE, said Internet users would be able to copy the software and instructions from a home page now being developed.
""We see no reason in restricting it in any way,"" ORG told ORG in GPE, where he is due to demonstrate the machine at an euthanasia conference DATE.
The death machine used in GPE, which has the world's only voluntary euthanasia law, enables people to give themslves lethal injections with the tap of computer keys.
On DATE, ORG hooked PERSON up to the machine with an intravenous tube. Dent, a DATE former carpenter and CARDINAL-time NORP missionary, started the flow of lethal drugs by entering CARDINAL simple computer commands.
""Once the intravenous line is put into the patient...then it's simple a matter of the patient pressing the response to the questions on the screen,"" ORG said. The computer programme asks CARDINAL times if the patient wishes to go ahead.
Dubbed GPE's ""WORK_OF_ART"" by opponents of assisted suicide, ORG said the idea of an euthanasia home page was a response to strong interest in PERSON's death and the new law, atlhough he said he was having some logistical problems getting the page up and running.
CARDINAL people use the worldwide Internet computer network.
""It's to let people know and give them some idea of the way this is being done in a responsible fashion in GPE,"" he said, adding he had already sent how-to-do-it kits overseas and around GPE using electronic mail.
A doctor cannot lawfully hook a patient up to the machine anywhere outside LOC, whether overseas or in GPE's CARDINAL states and other territory, ORG said.
But he dismissed suggestions he could face criminal charges if a machine built from material supplied on the Internet was used in mercy killings outside the remote outback jurisdiction.
""I feel very safe as far as giving the details of the equipment and as far as providing the software and the like,"" he said. The software is a ""trivial"" part of the device, he added.
The software and equipment needed to build the machine are very simple and can be bought for MONEY (US$MONEY), though the lethal drugs are extremely difficult to obtain, he said.
He said he was now developing another death machine which used carbon monoxide and an oxygen mask, enabling people to end their lives without needing someone to insert intravenous tubes.
""When people get too old and frail it can be very difficult to get access to veins and gas is a much easier way to go, and carbon monoxide is a painless and acceptable way...,"" he said.
ORG described his machine as a ""slicker"" version of the suicide device designed by GPE euthanasia advocate Dr PERSON, who has publicly acknowledged attending CARDINAL deaths since he began his assisted-suicide crusade in DATE.
(A$MONEY = $MONEY)",1
"ORG on DATE joined with NORP bank ORG to bid for ailing NORP regional airline ORG, the airlines' administrator told ORG on DATE.
""It's a bid to continue the company. ORG will have PERCENT, ORG. It's a bid which satisfies my conditions, assures the jobs and is also good for the creditors,"" PERSON said by telephone.
Rivaud, headed by industrialist PERSON, had originally been part of a consortium of travel groups ORG, PERSON and airline ORG.
ORG chairman PERSON said he was now withdrawing his bid. The ORG/PERSON bid was the only one remaining, ORG said.
Bollore is also the chairman of a shipping and financial group with his name. He was made the chairman of bank ORG DATE and the bank was increasing its capital especially for ORG.
Rivaud, Club Mediterrannee and airplane leasing company ORG were among the original financial backers of ORG, founded DATE.
ORG said that creditors could chose to either get cash now with a discount to the outstanding amount, or wiat for a maximum of DATE to get fully paid.
ORG has debts of MONEY (MONEY).
He said there was no price attached to the bid, as was the case with the former ORG bid of MONEY, because it was a bid to continue running the company, instead of an offer to buy the assets.
He said that CARDINAL jobs at ORG were safeguarded.
He said that the Creteil commercial court would meet on DATE to discuss the offer and a meeting with creditors was schduled within DATE.
Meanwhile ORG could dispose of its cash funds.
""I think this is the best we could get for the company and the creditors,"" PERSON said, speaking from ORG headquarters.
ORG founder and chairman PERSON will keep his post, he added.
ORG went into administration on DATE with debts of MONEY.
Apart from ORG and GPE there were bids from PERSON GPE-based ORG, and commercial pilot PERSON.
ORG planned to merge ORG with ORG and said DATE it had plans to spend MONEY on getting ORG back into profit in DATE.
ORG owns CARDINAL of the landing and take-off slots at Orly airport, GPE' ORDINAL airport specialising in domestic flights, and this would dramatically boost ORG's presence and competitiveness in GPE.
ORG lost MONEY in DATE due to an air fare war and insufficient passenger numbers.
Since DATE the main NORP domestic routes have been open to competition ahead of full liberalistaion in DATE.
ORG and other regional group ORG have been fighting to take market share from former domestic monopolyt carrier ORG, part of ORG. ($ = MONEY)","With a contentious, DATE strike by ORG now behind it, ORG could reach a GPE labor agreement with ORG in a matter of days, union officials said DATE.
The ORG talks, which affect CARDINAL TIME workers, were moving quickly when the strike in GPE started on DATE and stole the spotlight.  
""I think without question they would have settled by now, but the ORG did not want to undermine the NORP union's negotiating stance,"" said PERSON, a professor of labor relations at ORG. ""The (ORG) negotiations will move very quickly.""
ORG president PERSON remains directly involved in the talks, and major unresolved issues are much the same as those that sparked the walkout in GPE: the shifting of work to outside suppliers, the sale of several parts plants and the ORG's demands for job guarantees for PERCENT of ORG's workers.  
Sources close to the talks said they believe ORG will agree to guarantee jobs for PERCENT of its workforce -- nominally the same terms that rivals ORG and ORG agreed to -- but that level may exclude certain plants and may contain other exceptions.
In addition to the CARDINAL parts plants ORG won the right to sell in GPE are CARDINAL GPE parts plants on the sale block.
The automaker wants to sell a door hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE, which together employ CARDINAL ORG members.  
ORG officials have identified the buyer for all CARDINAL of the GPE and NORP plants as PERSON, PERSON and PERSON, a GPE-based investment firm that owns other auto parts companies.
But ORG also wants to sell other components factories. Its ORG division has CARDINAL plants that it considers ""troubled.""
And the automaker in DATE disclosed that was evaluating restructuring plans for parts plants other than the CARDINAL now on the sale block.  
A ORG spokesman declined to discuss the talks, other than to say that ORG and ORG negotiators were meeting DATE, as they have each weekday during the NORP strike.
""We reamin hopeful we can get this resolved as soon as possible,"" ORG spokesman PERSON said DATE.
Shaiken said he believes that the ORG-ORG agreement will largely continue the tradition of pattern bargaining for each of GPE's Big Three automakers. Many analysts and even ORG had downplayed the importance of maintaining a strict pattern for all CARDINAL companies.
""What we're seeing is the continuation of pattern bargaining, and nonetheless, ORG will be able to compete effectively under the agreement,"" Shaiken said.",0
"ORG and ORG said DATE they will merge in a stock deal that would create a semiconductor capital equipment powerhouse with combined revenue exceeding MONEY.
Analysts said the deal creates a powerhouse in the critical market for semiconductor capital equipment that can be used to closely monitor production and improve yields. This capability has become ever more important as the cost of computer chip-making plants soars into MONEY.
""This company in their particular segment of the equipment market is just invincible,"" said PERSON, ORG and ORG semiconductor capital equipment analyst. ""ORG's been the dominant player and ORG's been a very, very strong ORDINAL.""
The new company will be able to provide essentially CARDINAL-stop shopping for chip process and diagnostics equipment.
PERSON said the combined product offerings will enable semiconductor manufacturers to augment incremental capacity by identifying and eliminating scrap earlier in the process.
At current prices, with a total of CARDINAL shares outstanding after the stock swap transaction, the deal is worth MONEY, or CARDINAL times revenues, which analysts said was a reasonable valuation.
The companies said the deal, subject to regulatory and shareholder approval, will be accounted for as a pooling of interests and set up to qualify as a tax-free reorganization.
Under terms of the merger agreement, the companies said shares and options for ORG common stock will be exchanged for outstanding shares and options of PRODUCT on the basis of CARDINAL ORG share for each ORG share.
The combined company, which aims to provide the most comprehensive measurement and analysis systems for yield management available to the semiconductor industry, will employ CARDINAL people worldwide.
The companies said the deal was expected to close during DATE.
The new company, to be called ORG-Tencor,  aims to combine complementary product lines to create a full-line supplier of yield management products and services. ORG is based in GPE and PRODUCT in nearby GPE, GPE
The merger comes as semiconductor equipment stocks have been rebounding from a cyclical downturn in DATE, when tumbling prices for memory chips due to sharply increased capacity and insufficient demand chilled the sector.
ORG's stock hit a DATE intraday high of $MONEY before closing at $MONEY, up MONEY on DATE. ORG also hit DATE intraday high of $MONEY before before closing at $MONEY, up MONEY.
The merger was announced after the close of trading in the Nasdaq market.
After TIME, shares of ORG were reported soaring MONEYMONEY, while ORG fell as low as $MONEY on the news.
""It's one of the most rapidly-growing segments of the equipment market,"" PERSON said. ""These CARDINAL players are the dominant players in the market and what's amazing is their product offerings are almost completely complementary.""
Analysts said executives of the companies told them in a conference call that their lawyers anticipate no regulatory obstacles, although the analysts said in some areas the companies control PERCENT of certain markets.
ORG Chairman PERSON will become chairman of ORG-Tencor, while ORG Chairman, President and Chief Executive PERSON will be Chief Executive of the new combination, the companies said.","ORG said DATE that it will unveil technology DATE that will provide a breakthrough in the long-deadlocked debate over use of software encoding for secure data traffic.
If the encryption technology has won the backing of industry and the GPE and other governments -- which ORG officials say is the case -- the development could eliminate a key obstacle to the growth of electronic commerce via the Internet.
ORG Chairman PERSON will provide details on the technology, which includes technology patented by the GPE computer giant as well as other technologies, a company spokesman said.
Technology from ORG the de facto standard-setter for Internet security, will be involved ORG officials said.
ORG stock closed up $MONEY at $MONEY on ORG.
Senior ORG and ORG executives were also scheduled to attend DATE's news briefing at ORG in GPE, ORG officials said.
The technology will make it possible to export products containing so-called ""strong encryption,"" which cannot be exported under national security laws dating back to EVENT.
Under national security law, the GPE government has allowed the export of software and other computer products containing only weaker data encryption technologies.
Encryption has been classified as a munition because of its potential for use by terrorists, spies or other criminals to conceal messages.
Encryption programmes use mathematical formulas to scramble information, such as electronic mail messages or credit card numbers, to render them unreadable to computer users without a password or ""software key"" that can unlock the coded material.
For DATE the domestic computer industry has complained that such restrictions have hampered its competitiveness in world markets, and that its customers did not necessarily want the government to be able to decode internal data.
The industry says the laws have prevented it from offering some of the most recent Internet technologies, even within GPE, because it is impossible to prevent computer users outside GPE borders from gaining access to technologies publicly available on the Internet.
Companies and their customers want to use encryption to protect confidential communications and electronic commerce.
LOC executives recently noted that consumer devices, such as ORG Web browsing television device that hit store shelves DATE, use the same levels of strong encryption as used in military systems.
WebTV said it is using keys comprised of CARDINAL bits, or characters, of data to encode and decode its communications to its set-top boxes to provide consumers with the best level of security available over the Internet.
The government recently proposed that the roadblock be eliminated by providing a key recovery system, in which authorities could recover keys to crack messages if they received a court warrant to do so.
Industry has rebuffed this as difficult to manage.
The solution being offered by ORG would be flexible, allowing customers to use the levels of encryption required by different governments, the company said.
""This is going to allow very strong encryption,"" said a spokeswoman.
ORG said its technology would provide a means of ""solving the data security and integrity issues that have impaired and frightened users and companies from exploiting the full power of the Internet.""
ORG, the computer security pioneer acquired DATE by ORG is also expected to be involved in DATE's announcement.
ORG has become a de facto standard-setter for security over the Internet by licensing rights and technology to use its encryption systems. ORG declined to identify other companies or technology that may be involved.",1
"The MONEY proposed acquisition of ORG by ORG could spark a flurry of other mergers involving GPE banks, which until DATE were protected from outside buyers by state regulations.
""ORG just strolled into the LOC and bagged the biggest banking trophy in the landscape,"" said PERSON, banking industry analyst at ORGamp; Co. ""Whoever wants a big market position in the LOC has to come in and grab ORG.""
GPE-based ORG, a bank holding company with MONEY in assets, was seen by many analysts as the most attractive GPE franchise in size after GPE's. GPE, Mo.-based ORG, with MONEY in assets, also could help a regional bank establish a strong presence in the lower LOC, analysts added.
""It focuses more attention on ORG and PERSON,"" said PERSON, analyst at ORGamp; Sons. ORG is a MONEY asset-GPE based thrift.
""Now ... the most coveted bank out there is PERSON,"" Weber said.
Mercantile and ORG did not return phone calls seeking comment.
Among those seen as having an interest in buying in GPE are GPE-based ORG and ORG, GPE-based ORG and ORG, and ORG in GPE.
Representatives of ORG, GPE, ORG and ORG said the banks do not comment on rumors of possible mergers or acquisitions. ORG, contacted by phone, would not comment.    With a presence in CARDINAL states and MONEY in assets,
Boatmen's was the prize in GPE, where barriers to outside acquirers were brought down DATE by a federal banking statute.
""Boatmen's was the plum of GPE and was the plum of the central LOC,"" Weber said.
Talk that the GPE banks were seeking inflated prices from buyers was seen as a reason a deal has not occurred sooner. But ORG's bid, representing a premium of PERCENT for ORG's stock, was large enough to get the deal done.
""I think GPE's was shopping itself, and everybody knew if you wanted to be the winning buyer here, you had to make the bid nobody would beat,"" ORG said.
But some analysts cautioned that other targets should not expect as large a premium. They also questioned whether ORG can recoup shareholder value with such a large bid for GPE's.
""I think initially some stocks will trade up on sympathy, but the wild premium ORG put on this deal here, I don't see a lot of other deals being done at this premium,"" said PERSON, analyst at ORGamp; Co.","NORP dissident PERSON has appealed against his DATE jail sentence for plotting to subvert the government, but his mother said on DATE she held little hope of an acquittal or a lighter sentence.
PERSON said she hoped GPE Secretary of ORG PERSON and NORP President PERSON would raise her son's predicament in their meetings with NORP leaders when they visit GPE DATE.
""PERSON... should be acquitted because... he's innocent,"" she told ORG by telephone. ""We hope for an acquittal or a reduced sentence... but it is unlikely.""
PERSON, who acted as CARDINAL of CARDINAL defence lawyers in her son's case, said court officials had asked her to submit a written defence for the appeal and that family members may not be allowed to attend the appeals court trial.
Experts on GPE's legal system have said the chances of the appeals court overturning the lower court's verdict were slim.
An official of ORG said the DATE dissident had filed his appeal. She declined to provide further details.
EVENT took TIME DATE to convict and sentence ORG, who had already served DATE in prison for his role as a leader of the DATE student demonstrations for democracy that were crushed by the military with heavy loss of life.
On DATE, visiting NORP Prime Minister PERSON said he had expressed his disapproval to NORP Premier PERSON over the jailing of ORG.
A foreign ministry spokesman defended GPE at a news briefing on DATE, saying GPE would not impose its laws on others and that foreign countries should take a similar stance.
The spokesman also said GPE opposed using human rights as a pretext to interfere in the internal affairs of any country.
An international human rights group denounced what it said was the ""secret trial"" of ORG on a trumped-up charge.
""What (the court) brought to bear on PERSON was a secret trial in which the facts were deliberately hidden and the truth distorted,"" the GPE-based Human Rights in GPE said in a statement made available to ORG by facsimile.
""A fabricated charge was used to wantonly convict PERSON,"" the group said. ""PERSON case... is suppression and persecution of thought and speech by the NORP government.""
When told during the trial of his right to seek the removal of any biased judges, ORG demanded all judges and prosecutors be removed from the case. The tribunal rejected his request after TIME of deliberation, the group said.
GPE said it was an open and fair trial but Human Rights in GPE said no foreign reporters, diplomats or other international observers were allowed to attend.
The group said CARDINAL people wearing tags identifying themselves as reporters attended the trial but there was no mention of the conviction in the local LANGUAGE-language media.
The jailing of ORG was the latest in a series of crushing blows to GPE's struggling pro-democracy movement. Most dissidents have already been forced into exile or are serving long sentences in prison or labour camps.
Human Rights in GPE accused the official ORG of preparing LANGUAGE-language stories about the results of the trial and an interview with the chief judge even before the verdict was delivered.
Asked to comment, an official of the foreign affairs office of ORG said: ""It is not necessary to find out whether the story was prepared before or after the sentencing... News agencies have different ways and practices of releasing news.""
After breaking the news of ORG's conviction, it took ORG only 1-1/2 hours to put out a CARDINAL-paragraph story on the interview with the chief judge.",0
"Aluminium industry sources expressed doubt on DATE over whether producers association ORG would be able to contain output to support sagging world prices.
""I don't believe they'll do it,"" said a Western trade source in GPE.
A GPE representative of the GPE smelter and CARDINAL sources at the giant ORG plant said they had no information on plans to contain output.
""This is a very strategic question on which I have no information,"" said ORG-based PERSON of the plant's foreign economic relations department.
ORG chief executive ORG said NORP smelters had agreed to keep aluminium output at current levels and not to exploit CARDINAL-100,000 tonnes of idle DATE capacity.
He and PERSON, the group's ORDINAL deputy chief executive, referred to weak world prices and unprofitable domestic smelters.
But the sources said PERSON had little leverage and was unlikely to be able to influence producers.
ORG (ORG) benchmark aluminium prices failed to react seriously and held little changed at $MONEY per tonne in early trade -- a sign that the market may have questions over what the ORG plan means.
""The smelters tend to do what they want individually,"" said a NORP metals source. ""I don't care what PRODUCT says -- it doesn't affect my business.""
GPE, with high electricity and freight costs and low domestic demand, is keen to see higher world metals prices. Aluminium is near DATE lows of $MONEY and far below the $MONEY a tonne seen around this time DATE.
A NORP industry source said profit margins on metal exported at average ORG prices in DATE were PERCENT at GPE's NORP smelter, PERCENT at NORP and negative PERCENT at plants in the LOC region.
GPE was breaking even, he said. GPE and ORG had profit margins of plus PERCENT. Irkutsk had PERCENT.
It costs ORG $MONEY to produce QUANTITY of aluminium, the source said. Freight charges to NORP outlets added $MONEY per tonne, leaving gross profits of MONEY per tonne, assuming ORG prices of MONEY.
""The NORP smelters have a decent economic situation,"" said PERSON of ORG in GPE. ""It's profitable for them to let the NORP smelters (with negative profit margins) die out.""
A NORP diplomat said DATE in GPE that NORP and NORP government officials had met to discuss curbing NORP output, rekindling memories of LAW (ORG) between major producers GPE, GPE, GPE, ORG, GPE and GPE.
The ORG, designed to cut output by PERCENT and draw down bloated stocks, began in DATE and expired DATE.
Adding to uncertainty was a statement by PERSON, chief executive officer of ORG, who said on DATE that he expected a decision on decreasing output.
But sources said impending NORP purchases of alumina, the raw material for aluminium, would be a better indicator of how much metal NORP smelters plan to produce DATE.
""That will be the telling time,"" said CARDINAL source, referring to buying that should take place by DATE.
Trade sources in direct contact with NORP smelters said they would keep an eye on FAC, but doubted it could influence the industry.
""They (Kontsern Alyuminiy) don't really represent smelters and do not have a lot of credibility,"" CARDINAL NORP source said.
--Moscow Newsroom +7095 CARDINAL 8520","GPE business groups hit back on DATE at GPE attempts to link GPE's most favoured nation (ORG) trading perks with how GPE handles GPE after it reverts to NORP control DATE.
GPE Congressman PERSON, leading a CARDINAL-member delegation from ORG to GPE, said on DATE GPE will probably want to monitor GPE for DATE before granting GPE permanent ORG status.
""If ORG were conditioned or taken away, especially during the transition period, it would clearly have a devastating effect and make it much more likely that all the things we want for GPE would not be achieved,"" said PERSON, former chairman of ORG.
GPE currently enjoys ORG, subject to annual review.
GPE commentators noted that permanent MFN, which would allow GPE the same tariff treatment as other big GPE trading partners without an DATE review, was unlikely in DATE, DATE that GPE takes back GPE from GPE.
""It's unfortunate. Were it not for this being DATE of the return of GPE to GPE, I think it would have been an opportune time for ORG to finally extend permanent ORG status,"" said PERSON, the NORP chamber president.
""But it is going to be difficult DATE. Many members of ORG are very likely to want to take a wait-and-see attitude.""
Legislation on permanent PRODUCT has been submitted to ORG but has not been voted on.
GPE, which argues full ORG status is essential for healthy NORP relations, granted PERSON's congressional delegation an interview with President PERSON on DATE.
Political analysts said PERSON was committed to achieving permanent ORG status for GPE, but had tried to remind GPE GPE wants to see a smooth handover in GPE, where many are worried that GPE might impose repressive rule.
""Would a vote to tie PRODUCT to the transition be a good idea? No,"" said CARDINAL analyst, who declined to be identified.
""But to kind of use it CARDINAL last time to signal concern while everyone knows annual MONEY is going to go through doesn't hurt.""
As the leading entrepot for GPE-GPE trade, the GPE government has always backed GPE's application for ORG status. But on DATE it declined to comment on PERSON's remarks.
GPE's DATE application for ORG status goes to ORG in May. It has won approval DATE since DATE.
However, former GPE president PERSON was occasionally forced to use his presidential veto to eliminate various conditions that ORG attempted to attach.
GPE President PERSON, who accused PERSON of coddling tyrants in the DATE GPE presidential election campaign debates, de-linked the DATE review of CARDINAL from GPE's human rights record in DATE.",0
"Transport and logistics group ORG said on DATE it was well placed for quite strong profit growth in the current DATE, but would continue to look at selling its currently unprofitable non-core assets.
""We haven't got any numbers, but it should be quite strong relative to the position we're starting from,"" ORG Managing Director PERSON said of prospective profit growth, in an interview with ORG.  
PERSON said the non-core activities that slowed down ORG's earnings in CARDINAL were its general freight business in GPE and its NORP operations.
""We've dealt with the ORG (Less Than PERSON) business -- that's been closed and we've sold GPE,"" he said.
""What's the saying...when in doubt shoot it or fix it.""
ORG would also look to sell other unprofitable non-core businesses, PERSON said.
""We've got other non-core activities and to the extent that they don't perform then they will be vulnerable to sale,"" he said.  
CARDINAL of those non core activities is ORG's PERCENT interest in airliner leasing firm, PERSON. News ORG owns the other CARDINAL.
Mortimer said he had consistently said that PERSON capital base needed to be restructured to give it cheaper access to capital so it could compete properly.
""In its present structure, it's difficult for it to be optimised for News and ORG ownership because it needs access to capital at an effective rate,"" he said.
News and ORG continued to look at ways of restructuring PERSON capital base before selling it, he said.  
PERSON's ORG operation based in LOC had turned around in DATE and was now going well, PERSON said.
He said the just completed sale plans for ORG
Mortimer said in the longer term, ORG aimed to get double digit revenue and earnings growth.
""Overall we'd like to do good double digit (revenue and earnings) growth, but we can't guarantee any of that,"" he said.
ORG's share price closed up MONEY at A$MONEY.
-- ORG CARDINAL-2 373-1800","NORP media group PERSON on DATE ended a damaging boardroom row when its shareholders voted to oust CARDINAL rebel non-executive directors, who had contested changes to the company's articles.
Shareholders backed the board and voted overwhelmingly in favour of resolutions seeking the removal of dissidents PERSON and PERSON in a poll called at an extraordinary general meeting.
CARDINAL votes were registered in favour of each of the resolutions and CARDINAL against.
""I am confident that with these CARDINAL resolutions passed, the board will be fully united and ready to give full attention to your company's business,"" chairman Sir PERSON told shareholders at the ORG.
Simmonds, who has been a non-executive director of ORG for DATE, struck a conciliatory tone after what had been a bitter dispute.
""Catharsis and thinking about the future are good things. ORDINAL is going to continue to be great,"" he said.
ORDINAL shares, which had fallen from a DATE high of PRODUCT in DATE as the dispute worsened, firmed CARDINAL to CARDINAL.
The row centred on the removal of a provision for a minimum of CARDINAL non-executive directors and another change allowing a director to be ousted on a PERCENT board majority without an ORG being called.
The changes were approved at the company's DATE general meeting in DATE. Cooke and ORG had continued to oppose them, arguing that they transferred too much power from shareholders to the board.
""You should ensure that the board is your board,"" WORK_OF_ART told the ORG. ""The board may now adjust itself quietly and without any notice to you.""
ORG said that the board had not been able to function properly while the dispute simmered.
ORDINAL has been one of GPE's fastest growing companies in DATE, selling out of its original regional newspaper business and expanding its GPE local radio operations and its consumer magazine interests at home and in GPE.
It DATE reported pre-tax profit of MONEY (MONEY) in DATE of its DATE on turnover of MONEY.'
Hoskyns, who is CARDINAL and intends to retire in DATE, denied press reports that he backed chief executive PERSON as his successor. ORG joined the company in DATE as a reporter with ORG magazine.
He also dismissed talk of a rift between ORG and managing director PERSON.
""PERSON and PERSON have worked in partnership since DATE. That partnership has always been based on hard thinking, vigorous argument and mutual trust,"" he said. ($MONEY Pound)",0
"""Chainsaw Al"" PERSON, the chief executive of ORG aiming to halve his workforce and add MONEY in sales, ran into Wall Street skepticism.
The company's shares have been riding high, up PERCENT since ORG's appointment as ORG CEO DATE, but dropped CARDINAL to CARDINAL on DATE after ORG said he would cut CARDINAL jobs in restructuring the appliance group.
""He's pulled off some amazing turnarounds,"" said PERSON analyst PERSON. ""But I'm a little skeptical.""  
""I think the stock's a little ahead of itself,"" Noll said.
PERSON, author of a current best-selling book, ""Mean Business: How I Save Bad Companies And Make Good Companies Great"", is credited with turning around ORG and ORG He fiercely cuts staff and lifts stock values.
In addition to LAW moniker, the DATE executive has also been dubbed ""PERSON"".
On DATE, ORG said he would halve to CARDINAL the worldwide staff of ORG, eliminate CARDINAL of factories, regional adminstrative offices and warehouses, and stop making PERCENT of ORG's CARDINAL products.  
He also promised to sell ORG's furniture business, open fresh sales avenues such as outlet stores, strike overseas marketing alliances, and eliminate all debt by DATE. The company might launch share buybacks or make acquisitions once debt is paid off, he said.
Sales will double by DATE to MONEY, he said.
""It will be vintage ORG,"" ORG said in a conference call with institutional investors and analysts.
Analysts pressed ORG on specifics for doubling sales and when and with whom Sunbeam would align itself.  
ORG declined to identify potential deal partners but said new products, including many designed for GPE markets, would along with other steps yield PERCENT or better DATE revenue growth.
""It takes some length of faith from us,"" analyst PERSON of ORG said during the conference call.
Other analysts questioned whether ORG's reliance on outsourcing -- hiring other manufacturers to make ORG and ORG products -- was feasible as the company will have CARDINAL factories to make its CARDINAL remaining products.
The restructuring was very ambitious, involving deeper staff cuts, consolidation and tougher goals than had been expected since ORG began firing ORG executives DATE, analysts said.
""'Chainsaw Al' is a pussycat name for you,"" analyst PERSON of PERSON told ORG. ""If you pull this off, you should be called 'Nuclear Al'.""
-- New York Newsdesk 212-859-1713","PERSON ORG added another sales outlet to its mushrooming auto-retailing business with the MONEY acquisition DATE of a leading GPE car dealer.
Republic said in a news release it was issuing stock to acquire ORG, the owner and operator of CARDINAL new and used car dealerships, CARDINAL in southern GPE. It also operates a showroom in GPE, GPE
Republic just DATE agreed to pay MONEY for ORG, the ORDINAL largest rental car group in GPE, and DATE is scheduled to complete acquisition of ORG.
ORG is a private company owned by PERSON and is pioneering, with other competitors, the consolidation of the highly fragmented ORDINAL-hand car business in GPE. ORG is building sprawling superstores of lightly used cars with set prices and warranties.
Both the acquisition of ORG and the takeover DATE of Alamo Rent-A-Car, the ORDINAL largest car-rental company, are meant to feed ORG. Republic has said it wants to open CARDINAL ORG stores by DATE.
""We plan to have new vehicle stores in markets where we are developing ORG. ORG will enable us to add more major automotive brands as a complement to our used car megastores in south GPE,"" PERSON said.
Maroone, now run by the son of the founder, owns the ORDINAL largest ORG store, ORDINAL largest ORG location and largest ORG franchise in GPE. The group also owns ORG and ORG franchises.
PERSON, who heads the chain, will become president of ORG's new-car division.
In a continuing buying spree, Republic and ORG have acquired ORG, the largest ORG dealer in GPE, PERSON and PRODUCT in southern GPE, and leading southwestern ORG dealer ORG.
DATE's deal came DATE after Republic said it would pay MONEY to acquire ORG, which owns and operates CARDINAL new and used vehicle dealerships in GPE and GPE.
""Republic is now one of the largest purchasers of new vehicles ...,"" ORG analyst PERSON said in a recent report. ""As such, we believe they have an increased ability to request vehicles (makes, models, etc.), as well as rental terms to meet its retailing terms.""
Other participants in the consolidating auto-retailing business are the CarMax superstore chain of electronics merchant GPE and ORG, which has grown to be the ORDINAL largest new-car dealer in the country since DATE.
In still another deal reflecting auto-retailing consolidation, the largest single franchisee of ORG, ORG of GPE, GPE, agreed DATE to acquire ORG interest in ORG in a deal valued at MONEY. ORG does not own ORG outright, but controls it through a stock purchase option.
ORG, based in GPE, GPE, also operates in the solid waste and electronic security services industries.
Republic's stock gained MONEY in TIME trading on the ORG market.",1
"GPE is trying to shift financing of its tarnished gold sector to commercial banks while keeping control of exports, putting it on a collision course with the banks who say sales abroad are what interest them.
GPE bullion officials view recent ORG decisions outlining new procedures for working with gold as a cautious, experimental step toward opening one of the country's most closed industries, the banks say.
""Administrative measures in GPE always mean something,"" said PERSON, head of precious metals operations at ORG, commenting on whether recent changes detailing accounting procedures for working with gold were NORP-style bureaucratic paper-shuffling or more significant.
But he said: ""Honestly, I wouldn't expect a sharp rise in output any time soon.""
NORP bullion officials say they want to open up the domestic market, since the federal budget can no longer finance gold output or keep the state's strategic reserves well-stocked.
NORP industry sources say GPE has the world's ORDINAL-largest untapped gold reserves but is only the world's ORDINAL-largest producer, a fact that reflects the difficulty it is having in channeling funds to mines.
Output in DATE fell to QUANTITY and will slip in DATE and DATE. CARDINAL banks have the right to trade in gold domestically but CARDINAL can export gold abroad.
Banks financed QUANTITY of output DATE.
Western bullion bankers say bank-financed output makes GPE a potential loose cannon on world markets, since it could quickly send output soaring.
Gold, which struck DATE lows DATE but has picked up slightly since, hovered MONEY an ounce on DATE on ORG.
Domestic banks, some of which bought government gold-backed certificates in DATE which they cashed in for metal, may already have significant stockpiles of gold which they are unable to export due to strict quota and licensing rules.
PERSON press service said on DATE the president had decreed that GPE would not issue certificates backed by QUANTITY of gold as planned DATE.
""I know that there are a lot of banks with a lot of gold that they are just waiting to sell abroad,"" said PERSON, head of ORG's precious metals sales section.
""We all want to take this stuff out if the (domestic) market becomes liberalised enough.""
Bankers declined to put a figure on the number of tonnes of gold held in NORP commercial banks, but one said the figure could be at least in the CARDINAL.
ORG in DATE introduced new accounting procedures for banks seeking to work on the domestic gold market. But the institution still largely controls exports through quotas and licences.
Interfax news agency quoted ORG precious metals director PERSON as saying the rules would soon be simplified further.
""This can be viewed as the ORDINAL step toward a more open gold market in GPE,"" said PERSON, deputy head of precious metals department at FAC, CARDINAL of the few banks with a licence to export gold abroad.
""The task is to hook up our output with world market demand, given that our domestic consumption is low.""
Bullion bankers said domestic consumers bought QUANTITY of gold DATE, mostly as jewellery -- but they said trade restrictions hid the fact that consumer demand was higher.
""Once things become truly liberalised, the domestic market could really explode,"" Parmeshin said.","GPE's PRODUCT oil firm won a new lease of life on DATE after a GPE court ruled it could keep its crown-jewel asset, a key NORP oil producer coveted by a major rival.
An arbitration court said prize producer AO PERSON would stay at ORG, ending a high-stakes tussle between ORG and the big SIDANKO oil company for control over the enterprise.
""The decision is key to ORG's survival,"" said PERSON, managing director of ORG at ORG in GPE.
Rosneft, the state oil holding company which is slowly being privatised, lost most of its assets in DATE when President PERSON carved up the once government-owned oil industry into vertically-integrated, privatised companies.
DATE's ruling could help keep ORG -- once GPE's number-one producer but now near the bottom of the list -- alive by letting it keep a company sitting on big untapped reserves.
""ORG is not just a promising producer now -- it has a lot of promising reserves,"" said ORG press director PERSON. ""We consider DATE's decision an act of legal justice in GPE and a victory for ORG.""
Attractive Purneftegaz, a NORP enterprise that pumped QUANTITY of crude in DATE, has long been the object of a corporate wrangle between ORG and ORG.
Under PERSON's sweeping oil industry restructuring, a DATE government resolution awarded ORG to SIDANKO (the Siberian-Far Eastern Oil Company) -- but a DATE executive order shifted ownership back to Rosneft.
PERSON, an arbitration court member, told ORG that the body had ruled against ORG's lawsuit to have the DATE decision reversed.
ORG's output accounted for CARDINAL of ORG's production of QUANTITY DATE.
""ORG is much more important to ORG than it is to SIDANKO,"" said PERSON, associate director of oil and gas at ORG in GPE.
Spokesmen at SIDANKO, CARDINAL of GPE's top CARDINAL oil majors in terms of output, were not available for comment.
SIDANKO, which energy analysts said wields little control over its key subsidiary, producer GPE, badly wanted ORG and its exports to pay off debts and taxes.
""ORG is one of GPE's most promising oil firms,"" said petroleum economist PERSON of the government's ORG. ""The ruling is very positive for ORG.""
But other analysts said ORG may need more to prosper in GPE's newly-competitive oil industry.
""The decision means ORG is still in business as a vertically-integrated oil company -- but it will need more than just CARDINAL big producer to compete,"" said oil analyst PERSON of ORG consultancy in GPE.
PERSON's other major asset is PERSON, partner to CARDINAL giant foreign energy projects in GPE's LOC.
PERSON said the tug-of-war for ORG may yet continue and that SIDANKO could appeal against DATE's court ruling -- but PERSON said the corporate tussle had come to an end.
ORG shares barely reacted to the decision, nudging down to $MONEY on ORG at DATE ORG from DATE's close of $MONEY.
""If the decision had been different, it would have been a major blow to ORG,"" PERSON said.",1
"Almost 8 out of CARDINAL people in GPE are opposed to insurance companies using genetic test results as the basis for charging higher premiums or refusing to provide cover, according to an opinion poll commissioned by ORG released on DATE.
The news comes DATE after ORG (ORG) announced that people seeking life insurance would be required to report the results of any genetic tests to enable insurers to assess the financial impact on the industry over DATE.
The poll also underlined fears that the ORG's stance would discourage people from undergoing genetic testing with CARDINAL out of CARDINAL people asked saying they would not take a test now they are required to disclose the results to an insurer.
This could lead to people being deterred from seeking diagnosis of some treatable conditions or prevent them being able to make informed decisions about starting a family.
According to the ORG guidelines detrimental test results may be taken into account for any type of insurance except life cover linked to mortgages of MONEY though several larger companies have distanced themselves from this.
Standard Life, for instance, has said it would not seek the results of genetic tests for any policies.
PERSON of ORG, a non-profit organisation committed to the socially responsible use of genetic engineering said that the poll showed that the public did not trust insurance companies with genetic information.
""Genetic tests are still in their infancy and their conclusions may remain uncertain and imprecise for DATE. Many tests will only tell an individual that they may, as opposed to will, develop a disease in later life.""
""It isn't sensible or fair to be charged more for your insurance or refused it altogether on the basis of a condition you may never get.""
The Genetic Forum poll also found that CARDINAL out of CARDINAL people would object if a tissue sample which they had given anonymously was used for research without their knowledge or consent.
CARDINAL out of CARDINAL said they would object if their anonymous tissue was sold to a pharmaceutical company for research without their knowledge or consent.
ORG said too much was being left to the discretion of insurance companies and individual researchers.
ORG (ORG) set up DATE after a NORP parliamentary committee called for the creation of a body to consider the ""broad social, ethical and/or economic consequences of developments in human genetics"" meets for the ORDINAL time on DATE.","ORG on DATE confirmed that CARDINAL companies had submitted final offers for the mutually-owned insurance group by DATE bid deadline.
High street bank ORG plc and insurers ORG plc and ORG (ORG) must now wait until DATE to find out who has won the fight for control of the hotly-pursued ScotAm.
None of the bidders have taken up the option of making their offers public, allowing the company's board and its advisers PERSON to weigh up the competing bids behind closed doors.
In an effort to deflect criticism of the sealed-bid process ScotAm had agreed to publish details of offers, if asked to do so by a bidder.
But for the moment all CARDINAL seem content to abide by ORG's preference for confidentiality. They have also committed themselves to accepting its decision at DATE as final.
The board's endoresement will go a long way in ultimately securing ownership of the group but does not guarantee it.
CARDINAL of the CARDINAL policyholders who own the company must approve the choice and after widespread criticism of management's handling of both its own plans to float ScotAm and the auction process, its recommendation is likely to come under close scrutiny.
ScotAm, based in GPE in central GPE, has arranged for an independent tribunal to resolve any dispute arising from the takeover battle and has repeatedly stressed that the interests of its policyholders will be uppermost in its decision.
Those interests are likely to be focused upon bidders' long-term investment plans rather than upfront payouts and CARDINAL of GPE's main difficulties will be comparing very differently structured proposals.
Independent actuaries and ORGamp; Industry are to be consulted before the final decision is made.
Job security for ScotAm's CARDINAL employees is also likely to play a major part and all CARDINAL bidders have been quick to calm fears of job cuts.
ORG has said it would consider moving its ORG-based ORG business to GPE if it won while both PERSON and the Pru have said job preservation in GPE would be a priority.
ORG, GPE and the Pru are all that are left of CARDINAL companies, including ORG and ORG who DATE signed confidentiality agreements with ScotAm to evaluate the company as a takeover prospect.
The price tag -- widely expected to top MONEY (MONEY) -- has been cited by many companies as the reason for withdrawing from the race with acquisition goodwill likely to top MONEY.
ORG has made no effort to disguise its desire to expand in both the NORP and GPE market and has said it would shift its attention to another target if it were to miss out on ScotAm.
Both the Pru and PERSON have already said that their original proposals might be increased once they had access to more detailed financial detail on ScotAm.
PERSON's original bid was worth QUANTITY MONEY while the ORG's QUANTITY offer included a loan element to bolster LOC's life fund.
Those bids came DATE after FAC had published its own proposals to shed its mutual status and float itself on the stock market.
($ = 0.624 British Pounds)",1
"The PERSON administration is making a MONEY bet in its new budget that companies will rush to pay big bucks for a chunk of the airwaves to roll out newfangled communications services to the public.
As a part of the bet, the administration is wagering it can overcome major political forces, such as TV broadcasters, opposed to aggressive plans for selling spectrum.
Experts are split on whether the wager will pay off.
To finance its DATE budget, ORG proposed DATE to raise MONEY by selling licenses to firms wanting to sell new ways to link to the Internet or send video images through the air, among other things.
The administration also proposed to auction toll-free CARDINAL phone numbers instead of giving them away.
ORG, however, offered few details about its grand auction plan, which covers DATE.
Many economists think the MONEY is achievable because of the large amounts of spectrum still available and the rush by companies to develop new products incorporating the Internet and other communications services.
""There's a lot of unmet demand for frequencies that can be used to offer new services,"" said PERSON of ORG, a free-market advocacy group.
""A lot of people are coming through the front door of ORG asking for spectrum.""
Among the new services that could be rolled out in the future over newly available spectrum: high-speed wireless access to the Internet or mobile video services that allow drivers to download maps or traffic pictures in their cars.
Critics charge that any aggressive bid to sell spectrum to companies that want to use it for any purpose will backfire by driving down airwave prices and hurting companies -- such as wireless phone providers -- that already hold licenses.
""What they will do is drive the price of spectrum to CARDINAL and therefore kill the goose that lays the golden egg,"" said PERSON, president of ORG, an industry trade group representing cellular carriers and other wireless phone providers.
Since DATE, the ORG has raised MONEY through CARDINAL spectrum auctions for wireless cable television, satellite TV, a new generation of cellular phones and other services.
ORG proposed CARDINAL auctions to raise:
-- MONEY through the sale of CARDINAL phone numbers.
-- MONEY by extending and broadening the ORG's auction powers to sell spectrum not used by TV stations.
-- MONEY to sell part of the airwaves now occupied by TV channels DATE. The channels would be made available through the transition to high-definition digital TV.
-- MONEY through the sale of the analogue spectrum now occupied by TV broadcasters. The frequencies also would become available in the transition to digital TV.
The administration wants to speed up the return of the analogue spectrum to the government by requiring stations to return it by DATE. The auction would be held in DATE.
But broadcasters want to postpone any auction.
""We remain opposed to upfront auctions or accelerated giveback of broadcast spectrum. We expect the government will receive full value for spectrum once the broadcast industry transition to digital is complete,"" said PERSON, a spokesman for ORG.
The NAB supports an ORG plan for an approximately DATE transition to digital broadcasts.","GPE's paramount leader PERSON, reported to be in fragile health, was absent from a rally on DATE to pay tribute to him and other survivors of the DATE.
PERSON, DATE, CARDINAL of CARDINAL surviving veterans of ORG who trekked QUANTITY (QUANTITY) across GPE on foot to flee PERSON NORP troops, did not appear on state television which showed the TIME rally live.
PERSON, who no longer holds any office but is believed to remain highly influential, has not been seen in public since DATE.
His health is a matter of intense speculation in GPE, GPE and the NORP region because his death is expected to trigger a scramble for power among those eager to succeed him as de facto emperor of the world's most populous nation.
The official line is that PERSON is in good health for a man of his age.
Extensive preparations were made DATE for PERSON to grace official celebrations to mark the ORDINAL anniversary of EVENT victory against GPE, but his scheduled appearance was cancelled at TIME, NORP sources said.
The Long DATE rally was seen by some analysts as a show of support for PERSON's successor, ORG boss and state president PERSON, who has been eager to shrug off the patriarch's shadow.
""It was staged to show PERSON has the support of military from the old to the present and future generations,"" CARDINAL NORP analyst said.
Long DATE survivors, including former state president and PERSON's bitter rival PERSON, were at the rally. A representative of the CARDINAL-strong ORG pledged to follow PERSON's leadership.
CARDINAL Young Pioneers -- GPE's version of boy and girl scouts -- recited poems at the rally at FAC in central GPE adjacent to FAC.
Wearing his trademark army uniform with no stars or stripes, PERSON urged the ruling ORG to inherit the spirit of the Long March.
""The spirit of the Long March...is a strong spiritual force that guarantees our walking from victory to victory,"" PERSON said, reading from a prepared statement.
The gruelling Long March slashed ORG numbers to CARDINAL from CARDINAL, but survivors were hardened and went on to defeat and drive Chiang and his troops into exile in GPE at the end of EVENT in DATE.
""The road after the revolution is even longer and the work greater and tougher,"" PERSON said.
PERSON has declared war on crime, corruption and poverty -- problems plaguing GPE DATE -- and embarked on a crusade to resurrect socialist ethics, which have been eroded by DATE of economic reforms.
He paid little tribute to his mentor, mentioning PERSON only twice in his lengthy speech.
ORG, mouthpiece of ORG, splashed on its front page a photograph showing portraits of GPE, PERSON and chairman PERSON hanging over a cultural performance on DATE TIME to mark the anniversary.",0
"GPE has agreed not to enforce a ban on imports of GPE poultry until after top-level quarantine talks scheduled to take place in GPE DATE, GPE business and diplomatic sources said on DATE.
""We understand they (the NORP authorities) have not issued any letter to the field banning imports, and that they will not until discussions are held,"" a senior diplomat in GPE said.
GPE DATE confirmed a ban on imports of poultry and poultry products from CARDINAL GPE states because of fears of a fowl plague known as highly pathogenic avian influenza (HPAI).
GPE is the ORDINAL biggest market in the world, after GPE, for GPE poultry products and is its only market for chicken feet.
GPE poultry exports to GPE in DATE totalled MONEY, according to ORG and ORG. The states affected are GPE, GPE, GPE, GPE, GPE, GPE, GPE, GPE, GPE and GPE.
A CARDINAL-man delegation from GPE's ORG (APHIS) would arrive in GPE on DATE for talks with GPE's ORG) on DATE, the diplomatic source said.
""We have been told they will hold off on any action until then,"" he said of the ban.
News of the ban surfaced on DATE, when the GPE agriculture attache in GPE confirmed to his head office that GPE feared GPE poultry products bore the LAW virus.
GPE officials say GPE poultry is free of HPAI virus and that NORP quarantine personnel are confused about the difference between LAW and avian influenza, or ORG.
""We don't know what they identified,"" an ORG official told ORG.
""All we can say is that HPAI is not found in the GPE The last time it was found (in DATE) it was eradicated and since then we have had no reports of HPAI at all.""
AI is prevalent the world over, especially in wild fowl, and had not been isolated in commercial GPE poultry flocks, he and other GPE sources said.
""AI is not a concern for vets -- it's like the common cold and is not quarantinable,"" the ORG source said.
GPE and meat industry sources said the LAW virus had been detected in ostrich breeding stock in GPE destined for ostrich farms in GPE.
During a trip to GPE by ORG personnel to look at GPE ostriches, CARDINAL birds had tested positive for ORG, a GPE source said.
A positive test did not necessarily mean the bird was ill with HPAI, he said, likening it to a tuberculosis skin test which, if positive, did not indicate definitively the presence of ORG.
-- GPE (CARDINAL) DATE","GPE's decision to ban imports of some GPE chicken meat due to concerns about a fowl plague could hit a multi-million dollar export business, although GPE officials said on DATE their chickens do not have the disease.
""We don't have highly pathogenic avian influenza in the GPE,"" a GPE quarantine official told ORG.
""There is no record of it being found in domestic poultry,"" he said. It had been eradicated after an outbreak in DATE.
""It affects the birds but not the meat, the meat does not transmit anything to people,"" he said.
GPE's agriculture attache in GPE confirmed by fax to his head office on DATE that GPE had blocked imports of chicken meat from CARDINAL GPE states because of concerns about highly pathogenic avian influenza.
GPE sources in GPE said nothing had been received in writing about the ban from GPE's ORG).
""It came out of the blue,"" a senior diplomatic source said.
Embassy officials hoped to meet ORG officials on DATE or DATE, an embassy source said.
Asked to confirm reports of the block on chicken imports, a quarantine official in GPE told ORG by telephone: ""It is true."" He declined to give details.
Officials of ORG, Oils and ORG (Ceroils) said they had heard of the ban but also declined to give further information.
ORG officials said they were unaware of the ban.
The ban could have a major effect on GPE poultry exports to GPE, which in DATE totalled QUANTITY trans-shipped through GPE alone, and worth MONEY, according to ORG and ORG.
GPE is the ORDINAL largest market for GPE poultry products after GPE, the council's GPE director PERSON said.
""It is the only market to take paws,"" she said, referring to chicken feet. ""People say GPE chickens need wheelchairs because all their feet are going to GPE.""
CARDINAL containers a day of chicken feet moved from GPE into GPE, she said. Any hold-ups would cost importers dearly because of the high cost of storage in GPE.
ORG (ORG) official PERSON told a meeting of GPE poultry producers on DATE the industry should diversify its export markets as it was vulnerable to changes in sanitary rules such as one that halted shipments to GPE DATE.
The drop in prices following the changes in GPE could have put some GPE producers out of business had it continued, he said.
The NORP chicken ban is the latest headache for GPE agriculture officials in GPE who have been dealing with fears of importing potentially tainted products for DATE.
Wheat is an on-going issue, with GPE refusing to import the grain from the ORG northwest because it cannot be guaranteed to be free of a fungus called TCK smut.
GPE claims the fungus is harmless, that the ban is not based on good science, that it cuts DATE GPE wheat sales to GPE by QUANTITY and is a non-tariff trade barrier.
GPE, on the other hand, says TCK smut could cut domestic wheat yields if it got into the domestic growing areas.
GPE officials on DATE said any ban that GPE might place on GPE chicken meat imports because of avian influenza was not based on sound scientific evidence.
""It comes down to good science versus bad science,"" a senior official said on condition of anonymity.
Poultry meat was not a likely vehicle for transmission of the virus, he said, and GPE poultry meat exports posed no threat to the international poultry industry.
-- Hong Kong News Room (CARDINAL) 2843-6470",1
"NORP gold giant ORG on DATE agreed to a deal with GPE (ORG) miner ORG that gives ORG control of the giant ORG gold mine and ends a bitter feud between the CARDINAL miners.
The deal also keeps the ORG group as a listed company free to develop base metal and gold projects in the resource rich LOC nation.
Under the complex plan the GPE-based miner would pay Highlands MONEY (MONEY) to buy PERCENT stake in the PERSON mine, which is estimated to have produced QUANTITY of gold in calendar DATE.
Placer had previously offered Highlands MONEY for its ORG stake after building up a PERCENT stake in Highlands through a hostile takeover bid.
""We are pleased that ORG has accepted our offer,"" Highlands managing director PERSON said in a statement.
The restructuring plan involves all shares in Highlands other than those held by ORG being cancelled and holders receiving a capital return of MONEY cash per share and CARDINAL share in ORG.
""It's good for GPE because it gets what it really wanted, it's good for Highlands shareholders because they get MONEY, they get MONEY cash plus they have the share in the new company,"" CARDINAL source close to the deal said.
Highlands will spin-off a new company, ORG, which would hold the PERSON nickel/cobalt and ORG copper/gold projects as well as its exploration porfolio in ORG and GPE.
""There has been strong institutional interest in our proposal, which unlocks the value of PERSON, ORG and Highlands' extensive exploration interests,"" ORG said.
Under the restructure of the GPE group MONEY would be raised through a mixture of new equity and the planned sale by ORG of the shareholding it would inherit in LOC.
The new equity issue in ORG would be at MONEY per share, ORG said. The newly-formed company would have a market capitalisation of MONEY when it lists on ORG in DATE.
Placer Dome already has effective control over the PERCENT stake in ORG through its NORP offshoot ORG, which the NORP miner plans to buy-out the remaining PERCENT stake in the NORP miner.
GPE orginal bid of MONEY per Highlands share launched on DATE was rejected by the ORG miner, which valued Highlands at MONEY. Highlands had also threaten Placer with court action over its initial bid.
Investors welcomed the new deal.
In TIME trade Highlands shares were MONEY up at MONEY on active trade of CARDINAL. While fellow ORG partner ORG touched a record high of A$MONEY on the news. PERSON holds PERCENT of ORG.
(A$=US$MONEY)","ORG announced on DATE an agreed MONEY merger with ORG - its ORDINAL merger attempt in DATE.
The merger of the CARDINAL GPE-based regional banks would create GPE's ORDINAL largest bank, with assets of MONEY and a market capitalisation of MONEY, making its of GPE's top CARDINAL listed companies.  
Analysts said the plan for ORG to pay PERSON MONEY if it were taken over by a ORDINAL party was seen as a way to ward off other bids, making it look like it was ORDINAL time lucky for the St George.
""I think that would make it unattractive for somebody else to come in and make a bid,"" said PERSON, banking analyst at brokers BNP Equities.
PERSON said it would offer an effective A$MONEY for each share in ORG.  
Advance shareholders would be offered a combination of A$MONEY in cash, a MONEY special cash dividend and new PERSON shares up to a value of A$MONEY per ORG.
PERSON said the total value of the offer was A$MONEY per share, representing a PERCENT increase over the average ORG share price over the previous five trading days.
Advance shareholders will also receive ORG interim dividend, expected to be MONEY, payable in DATE.
PERSON said it would also raise MONEY in a new capital raising to help fund the bid. The issue would proceed upon completion of the acquisition, expected to in DATE.  
PERSON said the merger was driven by the need to lower costs and a review had found the merger could achieve a reduction of PERCENT in DATE combined expenses or MONEY before tax.
Advance shares soared PERCENT on the announcement.
Analysts said that although there would be cost savings, the price was still fairly generous.
""My initial reaction is that it looks like ORG shareholders are coming out of the deal quite well, whereas PERSON shareholders are coming out not so well,"" said CARDINAL GPE-based banking analyst.  
""It's a big price. I can't imagine anybody else coming and topping the price PERSON is offering,"" said ORG's Lyon.
Analysts said the offer valued ORG at CARDINAL times net asset backing, well above the CARDINAL times asset backing level at which recent NORP bank merger prices had been based.
PERSON has been desperate to have a friendly merger as it is seen as a takeover target itself.
GPE's largest banking group, ORG (NAB), holds a PERCENT stake in GPE.
NAB has said it has no takeover plans for PERSON.  
Analysts said the GPE inquiry into GPE's finance and banking sector might put NAB's acquisition plans on hold until the inquiry reported its findings in DATE.
PERSON bid for ORG DATE was scuttled by the PERSON government, which trumped its offer with a higher bid through its wholly-owned financial services group ORG and ORG (ORG). DATE, PERSON was foiled in its merger bid for GPE-based ORG when ORG made a higher offer.  
PERSON was also in talks DATE to merge with ORG, before ORG took control, and ORG, which was takeover by ORG DATE.
PERSON shares plunged after the announcement.
At TIME (CARDINAL ORG) ORG shares were MONEY or PERCENT higher at A$MONEY while PERSON shares were MONEY or PERCENT down at A$MONEY.
-- ORG CARDINAL-2 9373-1800",1
"Retailers looking for a EVENT rush to boost lukewarm holiday sales may be disappointed as snow in some areas and holiday exhaustion kept many shoppers from bargain-hunting DATE.
""I think people did their shopping"" before DATE, said PERSON, vice president at ORG, a group of retail mall operators that surveys CARDINAL large regional malls across the country.
""You're going to have some people out today (but) you're not going to see the massive crowds some people expected.""
PERSON said he expected DATE sales would be up PERCENT from DATE, which is about what he expected before the season began.
But after strong activity in DATE following DATE, retailers' hopes for even better sales ended up being dashed by a slowdown in DATE.
""I think generally, the overall picture appears to be we had a good, solid holiday sales period, but not a spectacular one,"" said PERSON, president of ORG, which represents major store chains.
She said she expects holiday sales rose PERCENT from DATE, when gains were a weak PERCENT.
Store officials and analysts said that while sales were coming in at or just below retailers' expectations, that still beats the dismal results DATE.
""They slowed up very moderately, actually, from the input we're getting,"" said PERSON, managing director of ORG. ""You know, we didn't go over a cliff and DATE we did go over a cliff.""
In GPE, snow and cold weather appeared to be keeping crowds down in the FAC shopping district DATE.
""Sales DATE are relatively slow compared to before DATE,"" said PERSON, manager of the Knot Crazy tie store in FAC. ""I think a lot of people spent all of their money before the holiday. Also, who wants to come out in this kind of weather?""
In central GPE, where it was also snowing, PERSON said there were lines at malls before stores opened at TIME (CARDINAL ORG), but most shoppers were looking for markdowns on holiday accessories and to return merchandise.
In GPE, many workers were on vacation and some offices were closed, and shopper traffic at FAC mall complex was moderate.
""We've had a good, strong season,"" said the manager of a women's clothing store who has worked in retailing DATE. ""Business DATE is pretty good. Volume is moderate.""
At GPE ORG store, sales associate PERSON said DATE TIME traffic was slow but she expected things to pick up during TIME.
""Things have been steady TIME, and we have not had that many returns,"" she said. ""We've had DATE -- above plan."" The store was offering PERCENT off on silk blouses, pants, jackets, shoes and other items on DATE.
In GPE, some shops were seeing more traffic.
""The store is very busy. Really everything is marked down,"" said a spokeswoman at ORG ORG's store in GPE's Falls mall.
But analysts said that while promotions picked up before DATE and would accelerate DATE, special discounts were fewer and less steep than DATE, which should help retailer profits.
""Some retailers did get promotional in DATE,"" PERSON said. ""I think you'll see it really starting DATE.""
ORG, the nation's largest retailer, said in a telephone message for investors on DATE that discount and warehouse sales were at the low end of plan for DATE in DATE.
The company is in line for sales increases of PERCENT for DATE, the company said.
ORG said on DATE sales were meeting expectations and that the company had planned its inventories well.
ORG said overall sales and sales at stores open DATE were showing upper-single digit increases.
""Overall sales were strong DATE,"" Vice President of Marketing PERSON said, noting that clothing, tools, jewelry, multimedia computers and tires sold well.","GPE warned GPE on DATE not to seek independence from the communist mainland, hinting the island would meet disaster if GPE insisted on splitting from the motherland.
GPE had failed to answer a DATE call by NORP President PERSON for reconciliation and had instead actively sought to split GPE from mainland GPE, the official ORG said.
""We urge the GPE authorities to rein themselves in at the precipice so that they can see clearly that the status of GPE being part of GPE cannot be changed and that the trend of GPE's reunion with the motherland cannot be resisted,"" the agency said in a commentary.
GPE, which views GPE as a rebel province, refuses to rule out the use of force to recover the island if GPE declares independence.
However, the tough commentary by GPE's state news agency held out the possibility of a resumption of quasi-official talks if GPE's authorities showed they sincerely wanted the eventual unification they say is their goal.
The commentary was issued to mark the ORDINAL anniversary of a conciliatory speech by PERSON, who urged an end to hostilities between the bitter political rivals and the opening of direct trade links.
GPE officials had shrugged off PERSON's olive branch and were actively working to divide GPE and further block economic and trade links, ORG said.
""The GPE authorities advocate 'splitting the country and ruling under separate regimes' and 'CARDINAL equal political entities', which are in fact aimed at tearing apart GPE's sovereignty and territory,"" the agency said.
It said people gifted with insight and who had at heart the fundamental interests of GPE's people should unite and remove obstacles preventing talks.
""The GPE authorities, under pressure both from within and without, have to respond to the important speech of President PERSON and at least gesture to make strategic readjustments regarding some questions in the cross-straits relations,"" ORG said. It did not specify what adjustments were needed.
GPE has barred direct trade and transport links with the mainland since the CARDINAL were separated at the end of EVENT in DATE. GPE has clung to its ban as a last bargaining chip in talks on reunification with GPE.
GPE's resumption of sovereignty over GPE DATE is expected to give GPE more leverage in any talks.
""With the return of GPE and that of GPE in DATE, the solution of the GPE question and the motherland's reunification will become more prominent issues for all NORP people,"" ORG said.
Analysts have said PERSON is eager to bring GPE into the mainland's communist fold to etch his name in history alongside the late Chairman PERSON and current paramount leader PERSON, who negotiated the return of GPE from GPE.
GPE would continue to promote economic exchanges between the CARDINAL sides while keeping a vigilant watch over any movement toward independence for GPE, the ORG commentary said.
""The fight against separatism and GPE independence has illustrated the NORP people's strong determination and ability...to strike hard against separatist activities and GPE-independence forces in GPE,"" the agency said.",0
"An influential economic research group is preparing guidelines on computer encryption for its member countries but will duck some of the most contentious issues involved, according to a draft obtained by ORG.
The PERSON administration, seeking to rally support for its controversial policy on exporting encryption products -- which encode and decode e-mail and other computerized messages -- failed to win an endorsement from ORG (ORG), although the group did discuss the administration's approach.
On perhaps the most difficult issue, the draft guidelines do not favour or oppose a requirement in the GPE policy that data-scrambling encryption programmes provide a way for law enforcement officials to obtain keys to crack the codes when necessary.
After indicating that governments should carefully weigh the costs and benefits of imposing so-called key recovery, the draft report said, ""this principle should not be interpreted as implying that governments should, or should not, initiate legislation that would allow lawful access.""
On all the controversial areas in the draft, ""the member countries of the ORG have strongly held views but they don't always coincide,"" PERSON, head of the group's ORG division, said in a telephone interview from GPE.
Some countries see widespread use of encryption as a way to protect the privacy of computer users and businesses, thereby encouraging global commerce, ORG said. But others see encryption as possibly thwarting law enforcement's efforts to catch criminals and global terrorists, he said.
The guidelines suggest encryption users should have access to products that meet their needs. Government controls should be ""no more than are essential to the discharge of government responsibilities.""
Instead of reconciling the different views, the draft guidelines lay out competing interests and approaches.
""It's not in itself a cryptography policy and it's not an attempt to draft a model national law that we're encouraging people to adopt,"" PERSON said. Cryptography refers to products and systems used in encryption.
The guidelines also suggest encryption standards and usage should be ""determined by the market in an open and competitive environment.""
""There's a strong view that the private sector should have the possibility to use information networks to the best of their potential in order to create growth and jobs,"" PERSON said.
GPE officials who have seen the preliminary draft praised the guidelines. ""They're an important and helpful step forward,"" Undersecretary of Commerce PERSON said.
""They're helpful because they put down on paper the proper foundation for getting into this,"" he added.
Reinsch said most countries will follow the GPE lead and require so-called key recovery features for law enforcement. Under the PERSON policy, domestic use of encryption is not regulated but the strongest coding products cannot be exported unless they include key recovery.
GPE companies that have opposed the PERSON policy, contending it stifles their ability to compete with unfettered foreign firms, drew little solace from the draft guidelines.
""This is not helpful,"" said ORG public policy counsel, PERSON. Netscape and other companies preferred stronger language endorsing free-market policies, he said.
The draft guidelines, approved by a group of government and private-sector experts at a meeting at DATE, still must be approved by a top-level ORG officials from the group's CARDINAL member countries, including GPE, GPE and GPE.","An international Internet group released its plan DATE to dramatically increase the number of available addresses in cyberspace while quelling disputes over the use of trademarks in those address names.
EVENT, which includes members of Internet standards-setting bodies and legal and communications experts, proposed CARDINAL new ""top-level domains,"" the last block of letters at the end of every Internet address.
If the plan is adopted, Net surfers will see addresses ending in ""web"", ""store"", ""info"", ""firm"", ""arts"", ""rec"" and ""nom"", joining ""com"", ""edu"", ""gov"" and other existing top-level domains.
Each new domain reflects a particular type or category of Internet site. For example, ""rec"" would be for sites emphasising recreation and entertainment, while ""nom"" would be for those desiring individual or personal nomenclature.
In drafting the plan, the group received CARDINAL comments from around the world. The consensus-building approach followed an outcry that arose when a few Internet bodies unveiled a similiar plan DATE.
""We are very pleased with the acceptance and broad consensus that we have achieved in this process,"" said PERSON, president of the Internet Society and chair of the ad hoc committee. ""To attain its fullest potential, the Internet requires true self-governance.""
Heath said the plan should be approved by Internet standard setters within DATE, allowing new domains to come online DATE.
The plan includes provisions to resolve disputes arising over the use of trademarked names as Internet addresses.
DATE, for example, toymaker ORG won a lawsuit to regain control of the Internet address ""candyland.com,"" which was being used for an adult Web site with nude photographs.
But more complex disputes are arising where both parties may have a legitimate claim to an Internet address.
Under the committee plan, anyone applying for an Internet address will have to agree to resolve disputes through online mediation under the rules of EVENT. Mediation will be provided by panels composed of international experts on intellectual property, trademarks and the Net. Challenges initiated within DATE of an address registration would be resolved within DATE.
All challenges and proposed decisions would be made public and time allowed for comment before a final decision was rendered.
The plan will not completely eliminate court battles, attorneys said. ""It's much better than the policies we've seen in the past, but, just by the nature of how valuable these domains have become, litigation will continue,"" said PERSON, Internet law specialist at ORG, PERSON, ORGamp; PERSON.
The plan also calls for establishing up to CARDINAL competing registration firms to dole out the new addresses. The firms will operate under the auspices of a ORG, to be established as a non-profit association in GPE.
Currently, CARDINAL firm, GPE, Va.-based ORG, hands out addresses in the most popular domains, charging $MONEY for a DATE registration.
ORG, which registers CARDINAL new Internet addresses DATE, had no comment on the plan, but a spokesman raised doubts about its viability. ""We're concerned with the stability and integrity of the registration process,"" spokesman PERSON said.
The complete proposal is posted on the World Wide Web at http://www.iahc.org/draft-iahc-recommend-00.html.",1
"NORP supermarket chain ORG, known for cute kid adverts and innovative technology, turned in a PERCENT rise in DATE profits on DATE and said sales were rising with hopes of a cheery DATE.
""I am positive about Christmas, there are some good statistics on retail generally...I would hope that (consumers) would have more confidence to spend,"" chief executive PERSON said in an interview.
The company announced plans to open QUANTITY (QUANTITY) of extra space, or CARDINAL stores, in DATE, which will generate CARDINAL jobs.
But with the company's profits and dividend coming in towards the lower end of expectations, ORG shares reversed a recent trend to slip to a low of MONEY, down CARDINAL, before recovering to CARDINAL by DATE ORG,
Safeway checked in DATE pretax profits of MONEY (MONEY), compared with forecasts of CARDINAL. It paid a dividend of MONEY, up from MONEY and within forecasts of CARDINAL to MONEY per share.
The company, which completed its ""Safeway 2000"" strategic review in DATE aimed at boosting sales and cutting costs, said sales from existing stores were up PERCENT in DATE of DATE.
That followed a PERCENT gain in DATE, including price inflation of PERCENT.
""Our strategy to attract more family shoppers to our stores is succeeding and this success is reflected in sales growth which is outperforming the industry average,"" the company said.
But Smith said the sector was ""very competitive...and margins at the moment are slightly down.""
Supermarkets are attempting to steer clear of an all-out price war by relying on marketing initiatives such as loyalty cards and customer service to boost sales, but pricing remains a key element.
In DATE, a fierce petrol price war hit profitability in ORG's petrol forecourts to the tune of MONEY, but Smith said he hoped this would not impact on DATE.
Gross margins have run slightly down on DATE in DATE and start of DATE, ORG said, driven by ""our immediate and vigorous response to a number of significant marketing and pricing initiatives launched by our competitors.""
But net margins were stable in DATE at PERCENT as productivity gains and efficiency improvements helped.
The supermarket chain plans to extend its innovative self-scan shopping, where customers track and total their own shopping to avoid queueing at checkouts. The scheme will be added at CARDINAL stores on top of the current CARDINAL.
Smith said the company would continue to focus on the family shopper and the large family DATE shop to boost sales.
""Increasing efficiencies mean we can be a low cost operator...which allows us to afford to reinvest in being competitive."" (MONEY)","ORG (ORG) on DATE cut its forecast for DATE real gross domestic product (GDP) growth as lower export demand, especially from neighbouring GPE, fuels the trade deficit and eases NORP expansion.
The ORG cut its DATE GDP projection to PERCENT growth -- the same as the real result for DATE -- from its PERCENT year-on-year prognosis made at DATE.
NORP GDP grew a real PERCENT in DATE, according to the latest results.
In its report on DATE, the ORG said it expected DATE real GDP growth at CARDINAL.
The ORG revised its forecast for DATE current account deficit to PERCENT of GDP from PERCENT as a ballooning merchandise trade deficit continues to bite.
It said the current account deficit would grow to CARDINAL of GDP in DATE.
The bureau said the merchandise trade deficit would grow to MONEY crowns by DATE from the MONEY deficit posted for DATE and compared with MONEY crowns for the whole of DATE.
But the bureau said export growth should accelerate in DATE to CARDINAL from PERCENT DATE, while import growth would be CARDINAL DATE from PERCENT in DATE.
It forecast the DATE merchandise trade deficit at CARDINAL to 210 billion crowns.
""It is realistic to forecast, in view of the massive investment into the (NORP) economy in DATE and expected growth of (ORG) economies... that the development of the (current account deficit) at DATE would switch toward (the deficit's) reduction,"" the ORG said.
The bureau blamed mainly a stagnation in DATE in the NORP economy -- which accounts for CARDINAL of NORP export demand -- and in the whole ORG for the revised trade figures and the lower GDP forecast.
""I think it's realistic to suggest that the (NORP trade situation) won't be much different DATE,"" said PERSON an independent LOC analyst.
""But the big question will be whether there will be some improvement toward DATE. If this carries on into DATE and DATE there are going to be big worries.""
He expected that, despite the poor trade results, the NORP crown should be able to stay within the central bank's band of plus/PERCENT from the mid-point of the mark/dollar basket to which it is fixed each day.
After the ORG announcement, the crown remained steady, trading in a tight range around the central bank's DATE fixing at 26.960 to the dollar and CARDINAL to the mark, or PERCENT above parity with the basket.
The ORG slightly eased its forecast for DATE inflation to PERCENT from PERCENT in DATE, and said consumer prices would slow to PERCENT for the whole of DATE.
It said unemployment would remain at CARDINAL of the lowest levels in LOC, but said it would edge up slightly to CARDINAL by DATE from PERCENT at DATE.
The slowdown of inflation -- to an average of PERCENT by DATE from PERCENT at DATE -- would be helped by a slowing in real wage growth to CARDINAL DATE from PERCENT in DATE, the ORG said.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"ORG can shrink its workforce under a ORG pact that differs significantly from contracts with ORG and ORG, the union disclosed DATE.
But the DATE ORG agreement also contains tougher restrictions on using outside companies for parts, aimed at curbing job losses to lower-cost outside suppliers.
Following a unanimous approval by CARDINAL plant-level leaders gathered here DATE, ORG's CARDINAL rank-and-file ORG members are expected to ratify the pact by DATE.
Despite the differences, most local officials said they were pleased with the pact.
""This agreement definitely sells itself,"" said PERSON, president of ORG in GPE, GPE ""I don't foresee a problem with ratification.""
In documents distributed to the leaders, the union said the contract calls for ORG to follow ORG and ORG in maintaining employment at PERCENT of current levels, but contains certain key exceptions.
The pact allows ORG to halt replacements of retiring workers when it makes efficiency gains in its factories -- a point that will be especially helpful to the automaker as it introduces new cars and trucks that can be built with fewer workers over DATE.
Another provision allows ORG to adjust workforces in plants and business lines located in larger geographic groupings than at ORG and ORG.
For example, ORG's CARDINAL factories in GPE, GPE, which employ CARDINAL workers, constitute a single grouping. As such, ORG does not have to guarantee PERCENT of the jobs in each facility, PERCENT of the total, which would allow the automaker to exit certain uncompetitive businesses.
Some plants in the GPE grouping remain at risk. ORG's V-8 engine plant there is still scheduled to close in DATE, and the contract did not address the future of the GPE assembly plant, which has been assigned no new product beyond the DATE model year.
ORG officials say they hope to persuade ORG to commit to new products to those plants.
ORG wants to exit such labor-intensive businesses such as ""cut-and-sew"" interior trim operations because it maintains it cannot be competitive at base wage rates that will reach $MONEY an hour for the average assembly and parts worker by the end of the contract. Including benefits, ORG's TIME labor costs exceed $MONEY per worker.
ORG is currently negotiating to sell an interior trim plant in GPE, GPE, and a door hinge plant in GPE, but ORG Vice President PERSON said the contract gives no consent to the sale and does not exclude any other plants.
""We have not agreed they can sell those plants,"" he said. ""If they do sell them, there isn't any question that they're covered by the ORG national agreement.""
However, PERSON, a ORG international representative, warned that GPE is among several plants that may wage local strikes against ORG. ""There's going to be a line in the sand drawn somewhere,"" he said.
Workers at ORG's GPE, GPE, truck plant began returning to work on DATE after a ratifying a deal to end a DATE strike. Most of ORG's CARDINAL locals are still in contentious negotiations over local agreements.
To help cushion the blow for workers that may be idled by productivity improvements and discontinued businesses, the ORG said ORG has pledged to spend MONEY to pay idled workers -- a MONEY increase over the company's committment under the previous contract.
ORG agreed to increase its income security committment by MONEY to a total of MONEY, while ORG did not add to its MONEY income security fund.
ORG faces more stringent outsourcing restrictions than ORG and ORG do. For example, when ORG is contemplating a decision to put a product up for bid by outside firms, it must notify the union sooner in the process.
If ORG selects an outside supplier to make the part, it must give the ORG at least 30 additional days to match the supplier bid. And the company also will now povide the union with a DATE master list of parts made by outside firms.
Most other provisions in the agreement are identical to the ORG and ORG contracts. The pact calls for workers to receive $MONEY in DATE, followed by base wage increases of PERCENT in DATE.
The pact also includes a PERCENT increase in pension payments for workers DATE with DATE of service who retire during the agreement. Elimination of a cap on outside income earned by retirees is viewed as an incentive for older workers to retire.","ORG, furthering its quest to supply complete car interiors, said DATE it agreed to buy the instrument panel and trim parts unit of GPE-based ORG.
Lear said it signed a memorandum of understanding to acquire ORG for undisclosed terms.
Based in GPE, GPE, GPE manufacturers instrument panels, door panels, climate systems, exterior trim and various other components for the NORP car and truck industry.
PERSON had DATE sales of MONEY and owns CARDINAL plants in GPE that employ CARDINAL people.
Primary customers for the business include NORP carmakers ORG and ORG and truckmaker ORG.
PERSON is owned by NORP state-controlled oil and energy group PERSON  and NORP state-owned oil group ORG.
Completion of the transaction is subject to approval by the NORP competition authority and other conditions.
Lear said the acquisition supports its strategy of having in-house capability to provide total automotive interior systems, including instrument panels.
""Not only does this acquisition strengthen relations with our NORP customers, but it positions Lear as the only independent automotive supplier in the world with in-house capabilities in all CARDINAL interior systems -- broadening the appeal of our already strong CARDINAL-stop-shopping competitive advantage,"" Lear Chairman PERSON said in a statement.
The deal is the latest of a series of consolidation moves in the automotive interior market. Lear DATE purchased carpet and floor-mat maker ORG for MONEY, and DATE bought door panel and console maker ORG for MONEY.
Lear's GPE operations include the manufacturing of a wide range of automotive interior components.
The company's stock was unchanged DATE at $MONEY a share on ORG.
Lear's competitors are also pursuing the same acquisition strategy.
ORG, which has a strong seating business, recently acquired interior parts maker Prince Automotive, based in GPE GPE, for MONEY in cash.
GPE's ORG, CARDINAL of EVENT"" automotive interior firms along with Lear and PERSON, recently acquired seat maker PERSONamp; ORG for MONEY.",1
"The choice of GPE for the listing of GPE's big oil and chemicals trader was at least partly a political decision, NORP officials and foreign securities analysts said.
They said that close ties between GPE and GPE helped in the choice of the island state for the proposed offer of ORG's shares.
""The decision to list in GPE was partly due to good relations between GPE and GPE,"" said PERSON, chairman of ORG, the ORG arm which could be listed in GPE.
""GPE is also a stable and prosperous environment,"" he told securities analysts and reporters invited to the company's headquarters.
So far, GPE has attracted the bulk of the foreign listings of NORP companies.
ORG, whose full name is ORG, is a major state trading company that has used some of the cash from its lucrative trading operations to expand into numerous new businesses.
Under the proposed stock offer, currently under review by the GPE bourse, ORG would place only some of its NORP trading operations -- including those in GPE -- into the listed company.
It has not said how many shares would be offered or how much money might be raised.
Securities analysts said they were unsure how much profit could be expected from the operations in the listed company. But they added that the parent firm clearly had the financial clout to list assets on any of a number of foreign stock exchanges.
ORG's trading turnover swelled to MONEY DATE from MONEY in DATE.
Company officials said the firm controls PERCENT of all of GPE's crude oil imports and has a PERCENT share of the company that accounts for the remainder.
It owns a share of a big joint venture oil refinery in the northeast city of GPE, has a newly formed insurance joint venture with ORG and has taken a stake in GPE's fledgling ORDINAL telephone network.
It is now a major real estate holder, having splashed out with MONEY (MONEY) to build its GPE headquarters, and it is part owner of an CARDINAL-storey commercial tower being built in GPE.
Company officials hinted strongly that further stock offerings were to be expected -- most likely in GPE -- if the GPE listing went smoothly.
GPE has become a model of sorts for GPE's vision of the future, according to Western diplomats.
It has raised living standards through rapid economic development while keeping tight political controls, they said.
GPE has carefully cultivated political and economic ties with GPE since diplomatic links were forged in DATE. It has pushed hard to make a success of its flagship project in GPE -- a big industrial park in the eastern city of GPE.
If ORG's listing proposal obtains final approval, it would not be the only such NORP state company to offer shares in GPE as several GPE-linked firms have already listed.
Fellow NORP company GPE -- the GPE-listed investment arm of the southern city of GPE -- is also looking to GPE.
ORG said that GPE's key role in the NORP oil refining and trading business was also a factor in its choice as the place of listing.
Securities analysts said that ORG probably would get a better price for the shares in GPE than in GPE.
But the analysts noted that strong political ties helped gain support from GPE.
""In this case, politics clearly played a role,"" said a GPE-based analyst.","Regulators DATE gave final approval to a technology standard for a new generation of high-definition digital television, setting off a race between computer makers and TV manufacturers to woo viewers.
ORG on DATE approved the compromise standard hammered out DATE between TV manufacturers, broadcasters and the computer industry.
ORG TV offers crystal-clear pictures and CD-quality sound. It is also expected to promote a ""computer friendly"" TV system that allows viewers to watch programmes while surfing the Internet over the same ""smart box.""
The new standard ""hastens convergence, transporting us into a competitive world of computer-friendly television sets and broadcast-friendly computers,"" commissioner PERSON said. ""Our decision also provides a springboard for global leadership in high-definition digital equipment and programming.""
The standard, among other things, covers how voice and video material will be attached to digital signals, how the signals will be ""compressed"" for transmission, and how they will be ""reopened"" at the TV receiver.
But not every detail is spelled out. Under the industry compromise, the standard does not specify the video format by which images will be put onto the screen, or ""scanned.""
Broadcasters and TV manufacturers had wanted to require a format known as ""interlace"" scanning. Computer companies argued that would stifle the convergence of TV and computer technologies. They wanted to mandate ""progressive"" scanning, which is better suited to computers, or no format at all.
Progressive scanning, used by most computers, updates every line of the TV picture at each pass. Interlaced scanning, used in exisiting television sets, updates every other line.
Because no scanning format was specified, the computer industry will be free to manufacture computers that use just progressive scanning. And TV manufacturers are ready to make sets that offer both interlace and progressive technology.
That sets up a competition between the CARDINAL industries over how consumers will want to watch TV -- over a TV set or over a computer.
""Ultimately, the personal computer will be the preferred communications device in the household,"" said PERSON, manager of telecommunications and computer technology policy at ORG, a major computer chip maker.
Not so fast, argue TV manufacturers.
""The computer people need to evaluate how the average consumer wants to get delivery to the home,"" said PERSON, a spokeswoman for ORG, an industry group.
""TV sets typically last a lot longer than computers. And they're much more simple to operate.""
In any event, industry officials agree that digital TV is likely to hasten the long-promised convergence of TV and computer technologies.
For example, sports fans will be able to watch a baseball game and split the screen of their machine to receive up-to-the-minute scores of other games over the Internet, according to industry officials.
TV manufacuters expect to begin bringing digital receivers to market in DATE. The new sets are expected to cost from MONEY. Prices are forecast to drop as broadcasters offer more digitally transmitted programmes, presumably boosting demand for digital TV.",0
"NORP life office ORG will finally put an indicative value on its own shares on DATE, removing much of the guesswork that has surrounded the pricing of the group's MONEY-plus float.
The group's net tangible asset backing of MONEY or A$MONEY per share is expected to serve as the pricing yardstick for the offer, with retail investors receiving a discount on the final price paid by institutions, insurance analysts said.  
""I would have thought somewhere around A$MONEY and A$MONEY (per share for retail investors),"" a stock analyst said on DATE, noting the demand for shares from ORG policy-holders would largely determine the retail price.
Policy-holders own PERCENT of ORG, and NORP parent ORG the rest.
""Obviously if the demand from policy-holders has been as strong as they say, there's going to be less shares available to institutional investors, so that will push the price up a little.""  
National Mutual, which gave its CARDINAL policy-holders until DATE to choose between taking shares or cashing out, has so far declined to comment on policy-holder demand for scrip, except to say the phones rang hot with inquiries.
It has also declined to specify the retail and institutional portions of the offer, leaving its ""embedded value"" or net asset backing (ORG) of A$MONEY per share as the only guide to a price.
National Mutual chief executive PERSON has said the group's ORG is an indicator of the final offer price, suggesting the group's earnings are too volatile to use the conventional appraisal valuation method, which accounts for future earnings.  
Under the offer process, PERSON will also announce the indicative price range for institutional investors on DATE as well as the total number of shares for sale by public offer.
The lack of any hard information on the policy-holders' response has led to some widely varying views on price.
CARDINAL GPE-based analyst said the retail price could exceed the group's ORG, suggesting policy-holders who elected to take cash would not want to see the price of the shares they forfeited leap in the secondary market.  
""At DATE, the people who took the cash alternative don't want to see the price at PERCENT above where they took the cash,"" he told ORG.
At an issue price of A$MONEY, ORG would list on ORG at a price-earnings ratio of CARDINAL times, against the average across industrial stocks of CARDINAL.
""That's at the upper end of where we would expect these guys to trade, but there's some earnings growth to come through in DATE DATE,"" the stock analyst told ORG.  
He said the A$MONEY ORG quoted by ORG undervalued its real GPE by MONEY per share, and this implied a maximum offer price of A$MONEY for institutional investors.
""I don't think they (the institutions) are really going to want to pay much of a premium over embedded value,"" he said.
Another GPE-based analyst said the institutional offer price could reach as high at A$MONEY, based on a retail offer price of around the A$MONEY ORG.  
""I think there's going to be a lot of interest, particularly in overseas institutions,"" he said. ""I think there's a lot of value there...,"" he added, citing an improving NORP life insurance market and good growth potential in LOC.
The group's PERCENT-owned ORG, based in GPE, and ORG in GPE account for the bulk of the group's earnings.
-- GPE bureau CARDINAL","NORP spirits, pubs and fast food group ORG on DATE reported a fall in DATE profits but effectively ruled out a demerger as a solution to its problems.
ORG chairman Sir PERSON said in a statement the company was ""clear that the best way to improve shareholder value is to improve operating performance and that this should be our overriding objective for the foreseeable future.""
He disappointed market hopes of a demerger of the company's spirits and wines business, saying this option had been ""thoroughly reviewed"" and the company was ""intent on developing the group's CARDINAL principal businesses.""
DATE pretax profits to DATE before exceptionals slipped to MONEY (MONEY) from CARDINAL previously but were within analyst forecasts of CARDINAL.
Allied Domecq said exceptional losses for DATE totalled MONEY, the largest part of which was on QUANTITY sale of its PERCENT stake in brewer GPE-Tetley to PERSON in DATE.
Allied paid out a total dividend of MONEY a share, unchanged from DATE, which was used as a comparison because of a change to its accounting period.
""The figures were very much in line with expectations. Some people had been worried the dividend may be cut but it has been maintained and that's a positive,"" CARDINAL analyst, who asked not to be identified, said.
ORG's shares eased MONEY to MONEY by DATE ORG.
""The divisions have gone in the direction expected but if you were someone who wanted action -- a demerger or management change -- you haven't got either and there will be disappointment,"" the analyst said.
ORG said its corporate restructuring had been largely completed with the sale of its stake in GPE-Tetley and smaller food companies.
Hogg said the group ""must improve the returns it delivers to shareholders."" He said an essential part of this was recognising and remedying overstocking of spirits distributors.
The cost of tackling overstocking of GPE spirits was the main factor in a PERCENT fall in DATE trading profits in the group's spirits and wines business, the company said.
ORG said it was ""determined to increase prices (in spirits and wines) where we can,"" adding that strong brands and market leadership were the best basis for achieving this.
The company said it hoped the division would benefit from the increasing focus on key brand/market combinations, more favourable shipment patterns and from efficiency gains.
But it warned that the trading environment ""may offer little prospect of improvement."" The group's retailing business, which includes pubs and fast food outlets, saw underlying profits rise PERCENT during DATE and ORG said it saw further opportunities for developing its leading pub brands.
""The company has said they can grow earnings and that's the way to create shareholder value,"" the analyst said.
But he added that there was still ""a lot of scepticism that they have to dispose of."" ($MONEY Pound)",0
"ORG, keeping up with rivals in the computer networking business, said DATE it paid MONEY in cash and stock to buy closely held ORG
The acquisition gives ORG a line of devices called PRODUCT switches that are becoming increasingly popular with computer technicians for speeding up the flow of information through corporate computer networks.
ORG rivals ORG and ORG have bought similar ORG technology in DATE.
PERSON, based in GPE, GPE, agreed to pay MONEY in stock and MONEY in cash for NetICs, a company that has yet to report any revenue. Bay will charge ""a substantial portion"" of the purchase price against earnings for DATE, the company said.
ORG stock was off MONEY at $MONEY in late trading on ORG.
The acquisition keeps ORG up to date with rapidly emerging technology, said PERSON, its senior vice president. ""We live in dog DATE in this industry. DATE is like forever,"" he said.
Eyestone, who will oversee NetICs' operation as a ORG unit, said his company plans to use NetICs' designs in its own line of networking products. Bay will release the ORDINAL product from the acquisition in DATE.
NetICs, formed in DATE by a CARDINAL engineers, will remain in GPE, GPE Until now, NetICs has been developing its technology and has not had any revenue, said PERSON, NetICs founder and president.
Some analysts said they were surprised by the amount of money Bay was willing to pay to get its hands on the technology.
""I know companies with revenues in this sector that would be happy to get MONEY,"" said PERSON, an analyst at ORG in GPE. ""They obviously felt they need this technology.""
ORG executives said they are paying the standard price for high-tech startups.
""This is right in line with the industry standard and our expectations,"" said PERSON, ORG chief financial officer. He declined to say how much revenue he expects NetICs products to generate.","ORG said DATE it will cut GPE prices of its Power Macintosh personal computers by PERCENT to make the machines more competitive with those from rival PC makers.
The price cuts are part of ORG's effort to make its machines as attractive as so-called ORG PCs -- machines based on ORG microprocessors running ORG software.
ORG, based in GPE, GPE, said it will reduce the price of its high-end Power Macintosh 9500/200 to MONEY from $MONEY.
The price of the entry-level Power Macintosh CARDINAL business machine will be cut to MONEY from $MONEY, the company said. The price reductions, which will be effective DATE, range from PERCENT.
ORG can afford the price cuts because it has reduced its costs significantly since a restructuring effort began DATE, said ORG, a Power ORG product manager at ORG.
""It shows that we can take aggressive pricing actions across many of our product lines and still maintain a healthy business,"" ORG said.
ORG's computers have traditionally been priced higher than PCs with similar features made by companies such as ORG and ORG
With the release of ORG's Windows CARDINAL program DATE, ORG lost much of its bragging rights for ease-of-use and saw many of its customers flee to the ORG-compatible world. In DATE, the company reported MONEY in losses amid falling sales.
To make its machines more attractive, ORG has had to cut its prices to keep customers from defecting.
""Now when a business customer does a feature-for-feature comparison between PRODUCT and a ORG machine, that customer will find the Power Macintosh competitively priced,"" PERSON, ORG's senior vice president of the Power ORG division, said in a statement.
The price cuts should help ORG increase the momentum it has gained in DATE, analysts said. DATE, ORG reported an unexpected profit in DATE.
The price cuts will not ""take ORG out of the hole, but we're seeing a more aggressive ORG, which is good news,"" said PERSON, an analyst at market researcher ORG The price cuts and the news about better financial health could convince more customers sitting on the fence to buy an ORG, ORG said.",1
"ORG should have no trouble meeting or exceeding the MONEY a share earnings estimates that analysts forecast for all of DATE, Chairman and Chief Executive Officer PERSON said DATE.
""We feel very comfortable we'll be at or above that range,"" he said in a telephone interview from the utility's GPE, GPE headquarters. ORG, the parent company for ORG, GPE's largest utility, earned $MONEY a share on total revenues of MONEY in DATE.  
DATE, ORG announced ORG (ORG) approved a settlement that removes the final rate uncertainty of its ORG, ending a DATE regulatory saga involving the embattled plant.
The settlement allows ORG to include the cost of buying the final QUANTITY of power from the plant in its customer rates. Previously, ORG was granted permission to include in rates the cost of buying QUANTITY of the plant's total QUANTITY of power.  
""The last significant uncertainty related to the whole GPE situation was the recovery of the remaining QUANTITY,"" said PERSON, who added he has been dealing with the GPE project since he became CEO of ORG DATE.
McCormick said the settlement removes the possibility of future earnings write-downs related to the project. ORG recorded an after-tax charge of MONEY in DATE from an earlier settlement of ORG issues.  
ORG' stock was up MONEY. Trading volume on ORG was CARDINAL, indicating trading for DATE would be CARDINAL shares, heavier than normal, said PERSON.
ORG' construction of the facility as a nuclear power plant was abandoned in DATE. ORG finished its conversion to a gas-powered energy plant in DATE.
ORG, the largest cogeneration project in GPE, is a partnership of ORG; ORG, ORG, ORG and ORG
Approval of the settlement prompted ORGamp; Poor's to revise its outlook on ORG and ORG to positive from stable, and re-affirm its ratings on the companies.
McCormick said he believes ORG will be meeting with the debt rating agency to discuss a possible upgrade of its ratings.","Shares in NORP-Dutch consumer group ORG Plc rose sharply on DATE after the group posted a better-than-expected PERCENT rise in DATE profits.
""I gritted myself for something rather unpleasant and its turned out very well,"" said PERSON, an analyst at ORG.
The shares jumped CARDINAL-1/2p in early GPE trade to CARDINAL-1/2p after profits rose to MONEY (MONEY) for DATE. The results beat analysts' forecasts which ranged from MONEY to CARDINAL.
""I think there is quite a lot of momentum in ORG and that is before the benefits of management reorganisation which began in DATE,"" said PERSON.
Before an exceptional charge of MONEY, mostly to reshape its newly acquired industrial cleaning business PERSON, pretax profits rose PERCENT to CARDINAL.
""The total charges were clearly lower than we expected,"" said PERSON, an analyst at ORG who forecast a total restructuring charge of CARDINAL with CARDINAL of that related to PERSON.
PERSON, acquired in DATE from NORP brewer PERSON for MONEY, was merged with Lever Industrial in DATE to form a combined business with DATE turnover of CARDINAL and a workforce of CARDINAL in CARDINAL countries.
ORG owns a range of household brands including washing detergent OMO, PERSON tea, NORP cosmetic cream and several ice-cream products.
""Although poor weather had a negative effect on icecream sales, other parts of the business in LOC did well,"" said ORG press officer PERSON.
Analysts and stockmarket dealers agreed. Despite the impact of DATE on ice-cream sales and profits, ORG still managed to improve its profit by MONEY to CARDINAL in DATE period from improved profits in detergents, frozen foods and personal products.
""The real strength came from the emerging markets of LOC and LOC and the strong underlying performance in LOC,"" added Haines.
The Asia-Pacific region turned in a QUANTITY increase in profits to CARDINAL in DATE, LOC was up MONEY at CARDINAL, while LOC and LOC showed a CARDINAL rise to MONEY, reflecting changes made by the group to its NORP business.
($MONEY Pound)",0
"Deregulation of the MONEY local telephone market is progressing -- but not according to the script written by ORG.
Although ORG DATE declined to revive key parts of the ORG's landmark rules for prying open local phone monopolies, the march to competition is not dead, industry and government officials agree. In addition, fears that consumers would not see lower rates anytime soon may be overblown.
""Things haven't come to a halt,"" said PERSON, a former ORG general counsel. ""It's not the end of the world.""
But the deregulation road map has changed.
State regulators, not the ORG, are calling many of the shots over how to open local markets to competition from the likes of long-distance carriers, cable-TV operators, utilities and other companies.
The states do, however, appear to be taking account of the ORG's now-defunct rules governing the prices new entrants to the local business must pay to acess the existing network controlled by PERSON and other local carriers.
ORG Chairman PERSON -- who DATE charged that an appeals court order suspending the ORG rules amounted to a ""monkey wrench"" in the  deregulation process -- now sees matters differently. ""I'm pretty encouraged as of this moment about the general trend here,"" he said DATE.
What's more, long-distance carriers such as ORG are not now sounding alarm bells.
Despite warnings that state regulators would give local carriers preferential treatment once the ORG rules were suspended, PERSON and other local companies concede that state decisions so far represent a ""mixed bag"" for them.
ORG Vice President PERSON insists ""it is impossible not to conclude"" the states are being independent.
DATE, a GPE appeals court in GPE suspended key provisions of the ORG's ""interconnection"" rules, which spell out how new entrants can hook up to the local network under the new communications law.
The court said the ORG likely erred when writing them. PERSON, ORG and other local carriers and state regulators want the rules overturned.
They argue that the ORG unfairly snatched from the states power to issue policies governing pricing and other matters.
Thanks to the appeals court order, state regulators are responsible for deciding important pricing issues. The ORG rules prescibed standardised prices for all CARDINAL states.
Lawyers and industry officials agree that even though the ORG rules are suspended, their influence still lingers.
Regulators in GPE, GPE, GPE, GPE, GPE, and elsewhere have not strayed far from them in arbitration decisions they've issued involving ORG and ORG and PERSON.
The decisions lay the groundwork for how the CARDINAL long-distance giants access the local network.
""So far, states are taking an approach generally consistent with the ORG's rules,"" said PERSON of the management consulting firm ORG
The ORG required PERSON to lease their networks in bulk at discounts of PERCENT.
The ORG also ordered local carriers to ""unbundle"" their networks into CARDINAL pieces that new rivals could lease to complete their own networks. The price of the pieces -- such as call-switching devices and operator assistance -- were to be based on the cost of new and more efficient facilities.
""In general, the states so far are very consistent with the ORG's interconnection order and with the general pricing construct the ORG laid out,"" said ORG Vice President PERSON.
PERSON, a senior vice president for a division of ORG, predicted: ""There will be competition in the local markets by the early part of DATE.""","Negotiations between ORG and its pilots union continued into TIME of DATE, with neither side reporting any breakthrough that would avert a midnight strike at the nation's No. CARDINAL carrier.
A federal mediator refereeing the talks at a downtown hotel informed the pilots that NORP had rejected a key union contract proposal covering who should pilot -- and at what pay -- the carrier's smaller NORP ORG planes.
Mediators are shuttling back and forth between the CARDINAL sides offering hypothetical ""what if"" proposals on a variety of issues in an effort the bring the CARDINAL sides closer together and prevent a DATE (CARDINAL GMT DATE) strike by the pilots which would throw the nation's air transport system into turmoil.
""They're going to work TIME, throughout TIME. All day (DATE),"" said PERSON, a spokesman for ORG, which represents ORG's CARDINAL pilots.
He said the union is ""disappointed at the lack of progress"" so far.
""We will continue to negotiate for as long as it takes. But (DATE) TIME at TIME the pilots will be on strike.""
ORG said no face-to-face talks had as yet been scheduled. An NORP spokesman would only say that the negotiations were continuing.
Going into the talks on DATE TIME, PERSON, chairman of ORG, said he was hopeful an agreement could be worked out in time to avert a strike.
The union had proposed that its pilots fly the NORP ORG flights, but with lower pay than pilots flying the regular NORP aircraft. NORP, however, wants to continue using lower-paid commuter pilots from a different union to fly the smaller planes.
While the mediator has informed the union of the airline's rejection of the proposal on small planes, union officials said the company itself has not notified them directly of that.
The dispute also centres around the pilots' pay. They now earn an average of MONEY a year.
The union earlier had said it would offer a new pay proposal -- probably less than PERCENT over DATE it had sought. The latest reported offer from NORP was a PERCENT boost over DATE.
A strike would ground CARDINAL NORP flights on DATE and affect CARDINAL passengers. NORP, a unit of ORG, accounts for PERCENT of the nation's airline capacity.
The GPE, GPE-based airline is trying to rebook passengers on other carriers and has already cancelled nearly all international flights scheduled for DATE TIME.
ORG spokesman PERSON said on DATE the carrier was cancelling CARDINAL of its domestic flights scheduled for DATE. ""There are some small domestic airports where we have no permanent place to park the planes if there is a strike, so we decided to cancel those CARDINAL flights.""
A ORG official said a strike could cost the GPE economy MONEY a day.
ORG Chairman PERSON called for binding government arbitration of the dispute, a proposal the pilots have repeatedly rejected.
""I think mandatory binding arbitration should be required"" to prevent airline strikes, PERSON told a congressional subcommittee. Binding arbitration would mean both parties agreed to abide by the decision of an arbitrator.
""I seriously doubt we could accept that,"" union spokesman PERSON said.
Crandall told a hearing of ORG subcommittee he was unsure if a strike could be avoided. ""We have CARDINAL choices: we can either cave in or take a strike. A strike of DATE will destroy this airline.""
As the talks entered DATE of intensive bargaining, President PERSON was keeping a close watch.
PERSON could intervene and name an emergency board to try to resolve the issues. Under the ORG Labour Act, which also covers airlines, the president has the power to declare a national emergency to stop a strike and to keep planes flying for DATE. The last time such an action was taken in an airlines strike was in DATE.
But at an unrelated news conference on DATE, PERSON repeated that the parties should use the government mediator to reach an agreement.",1
"ORG said DATE it agreed to buy ORG for MONEY in stock to gain expertise in a hot niche of the semiconductor design business.
ORG, which writes software to help engineers design computer chips, said it will issue CARDINAL of its shares for each of ORG's CARDINAL shares outstanding. Based on ORG's closing stock price of $MONEY on DATE, ORG would pay MONEY for each ORG share.
Shares of Epic, based in GPE, GPE, fell MONEY to $MONEY in late ORG trading. Shares of ORG, based in GPE, GPE, were unchanged at $MONEY, also on Nasdaq.
ORG specialises in software used in designing the overall framework of a microchip. Epic specialises in software for designing individual microscopic circuits, CARDINAL of which make up the microchip.
The acquisition gives ORG an edge as the so-called design automation industry scrambles to come up with ways to help engineers design ever smaller chips, analysts said.
""We believe the ORG acquisition is a good strategic move,"" said PERSON, analyst at ORGamp; Co. in GPE. ""ORG picks up technologies that are increasingly critical to developing"" the tiny ""deep submicron"" circuits.
ORG' customers, which include some of the world's biggest chip makers, have been asking for a suite of design software that would let engineers design a chip's framework as well as its circuits, said PERSON, ORG chief executive.
Epic will become a unit of ORG, the companies said. PERSON, ORG chairman and CEO, will head the unit.
ORG will take an undetermined charge for the acquisition in DATE the transaction is done, ""ideally DATE,"" said PERSON, ORG chief financial officer. Because of little overlapping products, there should be no Epic job cuts, ORG said.","ORG bargainers reconvened at ORG headquarters DATE following DATE DATE, but talks between the CARDINAL sides maintained a low profile, ORG and company spokesmen said.
ORG workers continued to report to their jobs at ORG's GPE factories, despite the expiration of their national labour agreement with the automaker at TIME DATE.
ORG spokesman PERSON said there were no major ""main-table"" meetings scheduled DATE, but key negotiators were communicating in small groups and by telephone.
""Discussions are taking place, but there is no set timetable regarding the negotiations,"" PERSON said, adding that such communications still may prove fruitful.
A person close to the talks said, however, that he did not expect the situation to change much before DATE, when the union's key local ORG plant-level leaders are scheduled to meet in GPE.
ORG President PERSON recessed the talks on DATE and expressed disappointment with the lack of progress toward a settlement, but he refrained from calling a strike against the world's largest automaker.
Still, ORG said some of the union's ORG locals may resort to strikes if progress in local negotiations does not improve. In addition to the national contract, ORG is negotiating with CARDINAL ORG locals for pacts that cover plant-specific issues.
In GPE on DATE, ORG Chairman PERSON said little about the ORG negotiations, but told reporters that he hoped there would be no local strikes.
The threat of additional strikes comes DATE after ORG members returned to work following a DATE walkout over the issues of job security and outsourcing, or the shifting of work to outside contractors.
Smith, speaking at a news conference on alternative fuel vehicles, declined to specify the dollar cost of the strike.
""We lost quite a few cars,"" he said.
ORG said DATE that CARDINAL workers in its GPE assembly, powertrain and stamping operations remained idle because of lingering shortages of NORP-made parts.
The automaker said it laid off CARDINAL workers at its GPE, GPE, metal stamping plant DATE, CARDINAL of CARDINAL such plants affected.
ORG's nearby GPE, GPE, assembly plant remains completely idled, as does its GPE assembly plant in GPE, GPE CARDINAL other assembly plants remain partially idled, bringing ORG's laid off assembly workers to CARDINAL.
ORG has CARDINAL engine and transmission workers laid off, with CARDINAL such powertrain plants partially idled.
In the ORG talks, which cover a total of CARDINAL GPE TIME workers, ORG has resisted the union's demand that it follow a pattern set by ORG and ORG and guarantee jobs for PERCENT of current work force over DATE.
ORG wants to exclude from the guarantee several parts plants that it wants to sell. The automaker has identified CARDINAL facilities that it considers uncompetitive.
ORG's stock gained MONEY to $MONEY in TIME trading on ORG.",0
"The NORP Gas Light Co (ORG) was interested in looking at the NORP assets of ORG if the assets were put up for sale, managing director PERSON said on DATE.
ORG has announced a restructure that includes a proposed merger of its energy arm with ORG
""But we haven't got a deal in front of us ... but I can tell you we have had CARDINAL knock on our door and say 'if we could put something together would you be interested,' and we say 'come on back when you have got something',"" ORG said.  
""The whole ORG story is yet to unfold,"" GPE told ORG in a telephone interview.
""There are a lot of rumours in the market that GPE may not want to hold onto all of the assets,"" he said.
ORG said said ORG, a NORP gas utility and energy group, would wait and see what unfolds with the ORG-GPE restructure, whether assets are sold off or not.
ORG's NORP assets include the DATE km of pipeline in LOC including the state's primary gas pipeline from ORG to the Adelaide pipeline system. ORG is also building a QUANTITY gas pipeline in southwest GPE.  
""I continuously say ... that ORG is interested in every sale whereever it is in the country because we are now a broad based energy company and if the ORG assets were to go to the market then we would be interested in how they were going to be presented to the market,"" ORG said.
""The silly thing to say is 'no we are not interested or no there is no possible sale,' then if somebody wants to do a little slick sale then they are not going to come and talk to you because you have said publicly you are not interested.""  
However, a ORG spokeswoman said ORG had made no decision about the future of its NORP assets nor had it told anyone the assets were for sale.
ORG's main market is LOC but it has businesses in GPE, Western Australia and ORG.
The GPE-based group also has interests in GPE, GPE and GPE. ""When you are trying to grow a company like we are, we are interested in everything,"" ORG said.  
ORG said he was very optimistic on the company's prospects from DATE's agreement with ORG ORG for the supply of gas to a proposed cogeneration plant at PERSON in GPE.
""This gives a new revenue stream to ORG,"" ORG said.
He said DATE agreement would not affect the company bottom line until the project is up and running in DATE time.  
ORG earlier held its DATE meeting where the former deputy governor of ORG PERSON was formally appointed the company's new chairman, replacing PERSON who retired.
Shareholders also approved the appointments of PERSON, the former managing director of ORG and PERSON, a director of ORG and wife of former NORP liberal party leader PERSON.
AGL shares ended MONEY up at A$MONEY.
-- ORG newsroom CARDINAL-2 9373-1800","Building materials, aluminium and sugar group ORG is expected to report on DATE a net profit before abnormals of MONEY for DATE, analysts said on DATE.
On DATE, ORG said that its CARDINAL ORDINAL CARDINAL profit was likely to be PERCENT lower, with DATE down by the same amount if the ORDINAL CARDINAL trend continued.  
Analysts have cut their DATE profit estimates for ORG after DATE profit warning. DATE forecasts now range MONEY, compared with around the MONEY level before the warning.
ORG reported a PERCENT fall in net profit before abnormals of MONEY in DATE.
PERSON, a building materials analyst at ORG, forecast ORG to report a ORDINAL half pre-abnormals net profit of MONEY. Cooney forecast ORG to report an annual net profit before abnornals of MONEY.  
PERSON at ORG forecast MONEY for the half and MONEY for DATE.
PERSON, building materials analyst at ORG, forecast ORG to report a pre-abnormal net profit of MONEY for the half and MONEY for DATE.
PERSON at ORG forecast a net profit before abnormals of MONEY for the CARDINAL and MONEY for DATE. PERSON has a hold recommendation on ORG.  
ORG building materials analyst PERSON forecast ORG to report a pre-abnornmal net profit MONEY for the CARDINAL and MONEY for DATE.
Analysts said the second CARDINAL for the GPE-based group was cyclically lower than DATE, as the NORP housing industry slows over DATE and January for DATE. ORG said DATE intense price competition and low volumes continued in the NORP building products market were some of the main reasons for the expected profit fall.  
It said in GPE its operation was achieving record profits, but the aluminium group which was a strong performer DATE would achieve lower earnings in CARDINAL due to falling metal prices.
It also said sugar profits for DATE would be close to that achieved DATE despite lower raw sugar prices.
ORG reported a net profit after abnormals of MONEY in CARDINAL, compared with MONEY in CARDINAL.  
Analysts are forecasting ORG's profit to start to turnaround in DATE, on the back of an improving domestic housing market in calendar DATE. The local housing market has been in the doldrums since DATE.
BZW's PERSON said the housing market was still on for a turnaround in DATE. ""Building approvals seem to be improving from where they were, housing affordability has improved immeasurably, all we need now is a bit of confidence,""
At TIME (0015 ORG), ORG shares were a cent down at A$MONEY. They have traded MONEYMONEY DATE.
-- ORG CARDINAL-2 9373-1800",1
"ORG on DATE halted a shipment of GPE maize thought to contain genetically-manipulated strains, pending further study on its effects.
Until the study is finished no maize from the shipment will be distributed in GPE, it added.
PERSON of the ministry's agriculture production section said ORG would conduct the study as soon as possible.
""The state Veterinary Administration is halting the shipment of maize...until it is decided whether these genes can pass into the food chain,"" Havir said.
On DATE, protestors in GPE disrupted loading of the shipment, chaining themselves to the trains bound for GPE, where laws regulating how genetically manipulated products should be treated do not exist.
The exact location of the QUANTITY shipment was unknown, but the NORP chapter of ORG carried on with the protest on DATE, with CARDINAL demonstrators dressing up as laboratory rabbits.
""DATE, the issue is that there is a precedent being made. There is no legislation in the Czech Republic regulating dealing with genetically-modified materials,"" said PERSON of ORG.
The protests are the latest of several blockades in LOC in DATE aimed a halting the import of genetically altered soybeans, and now maize.
It is illegal to market such modified maize in the ORG, though ORG says cargoes may have already reached GPE, GPE, GPE, GPE and GPE.
An ORG is due to decide on DATE whether to allow imports of such modified maize, made in the GPE under licence by NORP chemicals company ORG  CIGZsn.ORG.
GPE exporters do not separate the maize, estimated to amount to PERCENT of their crop, from conventional maize.
Havir, who met ORG protestors before the news conference, said the Czechs would cooperate with the ORG in any way possible, in addition to conducting its own study.
But he added: ""Genetically-modified commodities do not have to be dangerous. Their usage is a great advance in agriculture.""","A MONEY deal between ORG and ORG that would create the world's ORDINAL largest telecoms group looked set to be announced DATE, sources close to the talks said.
BT said it had scheduled a news conference for TIME DATE at its LOC headquarters following an earlier announcement that it was in merger talks with ORG
A spokesman said he could not say what the news conference would be about, only that it would be in connection with recent developments.
Executives from ORG and ORG were locked in separate board meetings on opposite sides of the LOC DATE as they and their advisers attempted to stitch together the biggest deal ever in the rapidly expanding telecommunications industry.
ORG, the number CARDINAL GPE long-distance phone company, sent shock waves through the global communications industry DATE when it said it was in talks about a takeover by ORG.
BT, the dominant player in the NORP market, has been building its overseas presence in DATE and already has a PERCENT stake in ORG. The CARDINAL also operate a joint venture known as PERSON which serves customers in CARDINAL nations.
Analysts are speculating on a price of $MONEY a share -- valuing ORG at MONEY and leaving ORG with a bill of MONEY to pay for PERCENT of ORG.
The deal would be the ORDINAL largest involving a GPE company -- topped only by the buyout of ORG by PERSONamp; Co.
A ORG spokesman confirmed that the ORG board was meeting over DATE to consider an anticipated proposal from ORG.
ORG's CARDINAL-story corporate headquarters was a hive of activity DATE as bankers, lawyers and advisers worked alongside the ORG board. A ORG spokesman said that the ORG board was also meeting in GPE.
BT and ORG have both said there are no assurances that an agreement will be reached or that any transaction will be consummated. They have said a further announcement is anticipated before the GPE stock market opens DATE.
BT had unsuccessful merger talks DATE with NORP rival ORGamp; ORG -- a deal which would have created the world's ORDINAL largest telecoms group by revenue.
Any ORG/ORG deal would spawn a massive company with a market capitalisation of MONEY, just ahead of ORG -- the leading, but struggling, GPE phone company. It would still be some way behind NORP giant ORG -- the world's largest.
Analysts said a merged company would be a good fit in the ultra-competitive GPE long-distance phone industry where ORG and CARDINAL ORG have been battling NORP
Its critical mass would leave it excellently placed to expand into other international markets and new technologies -- ORG possessing the biggest Internet backbone in the GPE
""This is ORG worst nightmare,"" said consultant PERSON of ORG.
ORG said DATE it was confident any ORG/BT deal would receive proper scrutiny by the GPE government.
""We would expect that our government would condition any such merger on the complete and unqualified opening of the telecom market in GPE,"" it said.
However, analysts regard the NORP market as broadly open to competition.
For its part, GPE's ORG (ORG) said DATE it was too early to say what regulatory hurdles any merger would have to clear.",0
"Leading NORP dissident PERSON has been ordered to serve DATE in a labour camp TIME after police detained him in an early morning raid on his GPE home, his wife said on DATE.
Police had notified her early on DATE of the administrative sentence, which does not need a court trial, but gave her no reason for the punishment.
""I am very angry. How can they do this?,"" PERSON said in a telephone interview.
""I feel he hasn't done anything (illegal). Citizens have freedom of speech, to write articles and say things.""
She said she had not decided whether to appeal.
The administrative punishment was passed against PERSON after he was taken from his GPE home DATE DATE by a group of uniformed and plainclothes police who also confiscated books, papers and photographs.
""Re-education through labour is the personal power of the public security bureau, it doesn't have to go through judicial departments,"" PERSON said. ""The public security can just do as they wish.""
PERSON might be sent to a labour camp near his hometown of GPE in the northeast, she said.
Police officials declined to comment.
The administrative punishment of re-education through labour has been increasingly used against dissidents in DATE as a means of removing activists from circulation while avoiding the more complicated trial process, diplomats say.
Police gave no reason for the detention of PERSON, a renowned literary critic who gained fame as a dissident in the DATE student-led pro-democracy movement that was crushed by the military with heavy loss of life.
PERSON has been active in DATE, sending several daring, open letters to the government.
On DATE, PERSON and veteran pro-democracy activist PERSON issued a statement urging GPE's communist authorities to honour a promise in DATE to give people freedom of the press and speech and to form political parties and stage demonstrations.
In a bold move, the CARDINAL demanded ORG chief PERSON be indicted, impeached and step down for violating the constitution for saying ORG was under the ""absolute leadership"" of the party instead of the state.
PERSON could not be reached in southern GPE and a human rights group said he did not return home on DATE.
PERSON was last detained by police in DATE after orchestrating several petitions to parliament by groups of dissidents and intellectuals in DATE.
He was held for DATE without formal charges until being released DATE.
His sentence comes shortly after NORP sources said dissident and former student leader PERSON faced a ORDINAL jail term after prosecutors charged him recently with subversion.
PERSON, DATE, faces DATE in jail on charges of counter-revolutionary incitement -- or subversion.
PERSON, who is believed to have worked with PERSON on several petitions, was detained in DATE in the run-up to the ORDINAL anniversary of the DATE military crackdown.
A former student of ORG, ORG served DATE in jail for counter-revolutionary activities for his role as a leader of the DATE demonstrations that centred on GPE's FAC.
He had been expected to face charges since the court that sentenced veteran democracy activist PERSON DATE for plotting to overthrow the government also implicated ORG in its verdict.","GPE hopes for a breakthrough to launch manned space flights DATE and planns to land a spacecraft on the moon in DATE, the ORG said on DATE.
Senior NORP space officials had unveiled an ambitious, multi-million dollar and wide-ranging programme that was aimed at giving the country a competitive edge in international space development, ORG said, quoting senior officials.
GPE is known to be eager to push ahead with its space programme to expand its role in the commercial satellite business while winning international prestige through trumpeting its technological advances, industry analysts have said.
Manned space flights were being given top priority in GPE's space programme, which includes building a heavy solar satellite in partnership with GPE as well as developing a new generation of lightweight spacecraft to 'bus' satellites into orbit, ORG said.
""The country is expected to make a breakthrough in manned space technology at DATE,"" ORG said, quoting PERSON, vice-administrator of ORG.
PERSON gave no more details of the manned space flight programme, which has been rumoured for some time.
However, PERSON, president of ORG, told ORG that GPE was pushing ahead with its goal to boost launch vehicle technology in DATE. He said the goal was to build rockets that could carry QUANTITY payloads -- more than twice the current capacity of the nation's most powerful launch vehicles.
GPE, which put its ORDINAL satellite into orbit in DATE, has been trying to expand its role in the commercial space market, despite a series of recent setbacks.
In DATE a Long March 3 rocket, considered one of GPE's most reliable launch vehicles, failed to put a U.S.-built satellite into orbit. In DATE, technical flaws had even more disastrous results when a new generation Long March 3B rocket exploded shortly after take-off, killing CARDINAL people.
PERSON said GPE also planned to develop a reuseable space transport system and vehicle re-entry and landing systems.
PERSON of ORG (ORG) said a small spacecraft with low operating costs would be designed.
""GPE has reliable technology for space tracking, telemetry and control to do this,"" ORG quoted PERSON as saying.
In terms of moon exploration, GPE planned to provide cheap transport systems for lunar-landing spacecraft to explore the moon and developing lunar resources, ORG said.
PERSON, president of ORG, said items under development included a scientific satellite, the Shijian-5, which was light and cheap and would become a 'bus' for small satellites.
In solar observation, GPE and GPE were cooperating to produce a QUANTITY lunar satellite equipped with a solar telescope. The MONEY satellite was expected to be sent into orbit around DATE, said ORG member PERSON.
GPE has also decided to invest MONEY to build the world's most advanced sky survey telescope that could observe MONEY galaxies, he said.
GPE was working on its own space station, ORG said.
It is cooperating with GPE and GPE to build a magnetic spectrograph aboard the LOC station -- scheduled to be launched DATE -- that was expected to detect anti-matter and dark matter in the universe, ORG said.",1
"GPE on DATE opened its doors to CARDINAL new international telephone operators, saying it would create a fully open long-distance telecommunications market DATE ahead of the rest of LOC.
GPE telecoms giant ORG, ORG operator PERSON and the ORG alliance between ORG PERSON, ORG are now among those free to compete against dominant players ORG (BT) and ORG.
While the rest of LOC is only aiming for telecom liberalisation in DATE, a rash of new rivals -- mainly from GPE -- will be able to offer a full range of telecoms services between GPE and the rest of the world from DATE.
""The GPE has proved to the world that liberalisation pushes down prices and improves services,"" WORK_OF_ART Minister PERSON said in a statement.
""Phone prices are down PERCENT overall since DATE, and I expect these new licensees to put further downward pressure on international rates,"" added PERSON, who is keen for a more open telecommunications market to attract inward investment.
In the largest single move towards opening up the international telecom market, which ORG values at MONEY (MONEY), CARDINAL companies applied for licences in DATE, CARDINAL of which have now been granted.
Until now, international rivals to ORG and ORG -- which is owned by GPE's ORDINAL largest telecoms operator Cable and ORG -- have only been able to operate by paying to lease lines from CARDINAL NORP companies.
But own-facilities services are cheaper to provide.
The move may also help dampen opposition by ORG, GPE's largest long-distance carrier, to ORG's proposed MONEY merger with GPE's ORG
Regulatory clearance hinges on how open the authorities deem GPE's telecom market is. With ORG keen to take on the GPE, the world's largest telecoms market -- worth MONEY -- regulators are keen to ensure that the same competitive benefits are available to GPE companies.
BT welcomed its new rivals, adding that it was hopeful of winning approval for its GPE mega-merger. ""This (move) indicates how open the GPE market is,"" a spokesman said.
Analysts say that expectations of growing competition and the inevitable falling margins at home have already been discounted in telecom companies' share prices.
""This has been very well flagged,"" noted one.
Mobile telephone operator ORG, having clinched its licence, jumped MONEY to CARDINAL.
BT's shares rose MONEY to ORG and Cable and ORG' stock added MONEY by TIME.
Analysts have found it hard to predict how hard revenues will be hit by ORG and ORG's loss of market share as telecoms companies turn their attention overseas to help boost earnings.
But Cable and ORG' ORG is expected to suffer more than BT because international traffic makes up a much higher proportion of traffic -- and thus contributes a higher proportion of profits.
($MONEY Pound)","Misys, GPE's fast-growing, QUANTITY software supply giant, said on DATE it was looking at CARDINAL or CARDINAL international acquisition targets worth MONEY each.
Chairman PERSON told ORG that ORG, which has snapped up software trading firms in LOC, GPE, the GPE and LOC, was keen on businesses that operated within a strong international financial services market.  
""They (possible acquisition targets) are worth mainly MONEY -- and we might do one, we might do CARDINAL,"" ORG said.
With MONEY of cash and an undisclosed, but low gearing level, ORG said the company had plently of headroom in its cash flow and borrowing facilities to enable it to embark again on the acquisition trail.
Supplying software to banks and insurers has brought rich rewards to LOC. The group earlier raised pretax profits in DATE by PERCENT to MONEY on revenues of MONEY -- a PERCENT rise.  
ORG said he saw the possibility of ""creating quite a bit of shareholder value"" by buying regional software companies, particularly in the banking industry.
Misys, whose banking division alone now supplies software to CARDINAL banks and CARDINAL installations, has become one of the world's largest application software companies as consolidation in the industry gathers pace.
In DATE, its shares have almost doubled to MONEY from MONEY as it systematically targets international financial institutions that need new software at lower costs but with a greater security of transactions.  
Lomax insists that he is unworried by the share price, which at CARDINAL times prospective earnings, no longer looks cheap. Competitors' PE ratios are comparable, he says.
But the stock slipped CARDINAL to 1115p despite record results.
The company has bought software businesses in risk management, private banking, corporate electronic banking, derivatives trading, capital markets trading --- areas where banks and securities firms want to expand and control their activities.
""Internal production is not meeting the time to market requirements that these companies have -- so they tend to look outside to other (software) products,"" ORG says.
DATE, ORG announced the planned MONEY acquistion of ORG, a GPE computer company specialising in financial derivatives trading software.
In terms of international banking, ORG is CARDINAL to CARDINAL times bigger than its next competitor. Rivals such as ORG's ORG impinge only on parts of its market, ORG noted.
""Nobody of any serious calibre or size competes across the board with us.""
The group lifted its DATE dividend PERCENT to CARDINAL.
PERSON +44 CARDINAL DATE",1
"ORG, facing a rancorous strike by its NORP workers, DATE reported a MONEY DATE profit that was boosted by strong automotive results and an unsually low income tax rate.
The world's largest automaker said the combined net income of its ORG and its ORG parts businesses was MONEY. DATE, the operations had a combined loss of MONEY, while the parent company posted a profit of MONEY.
Increased volume and favourable currency exchange rates helped ORG to nearly triple its international operations profits to MONEY from MONEY DATE.
""DATE results from continuing operations clearly show momentum as we continue to rebuild our strength in LOC and grow our business in key international markets throughout the world,"" ORG Chairman PERSON said in a statement.
The earnings, equal to $MONEY a share, compared with a profit of MONEY a share from continuing operations. They do not include results from ORG, which ORG spun off in DATE. Revenues climbed to MONEY from MONEY in DATE period.
Contributing to profits was MONEY in CARDINAL-time favourable items. ORG recorded a MONEY after-tax gain from a reduction in the reserve to pay for plant closings, thanks to its decision to use its GPE, GPE, facility to assemble new PRODUCT vehicles.
Also, ORG's effective income tax rate was PERCENT, adding another MONEY, as the company took advantage of several tax credits, including a reinstatement of research and experimentation credits for DATE.
ORG Chief Financial Officer PERSON told reporters during a conference call that rate is expected to return to the PERCENT range in DATE.
As it has DATE, ORG continued to add to its growing cash account in DATE, contributing another MONEY to bring its total cash balance to MONEY at DATE.
Because ORG has previously set its cash goal at MONEY, PERSON, an analyst at ORG, believes the ORG board will return some of that money to shareholders.
""I thought it was a pretty decent DATE,"" he said. ""I have a lot more confidence that they are going to raise the dividend and announce a share repurchase programme.""
PERSON said the DATE dividend could go to $MONEY a share from the current rate of $MONEY at the next board meeting DATE. By DATE, he said ORG may have in place a MONEY share repurchase programme.
ORG's DATE net profit margin from continuing operations rose to PERCENT from PERCENT. Smith said that was good news, but noted the company still has a ways to go before it reaches its average DATE profit margin goal of PERCENT over an auto business cycle.
""We still have our work cut out to improve margin performance,"" he said.
ORG delivered more vehicles worldwide in DATE -- CARDINAL vs. CARDINAL -- but its global market share slipped to PERCENT from PERCENT.
The company also lost share in the GPE car and truck market, finishing DATE with PERCENT compared with PERCENT. ORG delivered CARDINAL vehicles in GPE during DATE, down from CARDINAL.
But ORG said the overall volume increase represented good news for the company, and was a sign there is demand for the bevy of new models it is launching.
""It's volume that drives earnings, not market share, per say,"" he said.
Another positive sign was the pace of new-model launches, said PERSON. Production of full-size vans at GPE, GPE, and PRODUCT coupes in GPE, GPE, have reached full line speed, and other plants are on schedule.
ORG is in the midst of launching CARDINAL new cars and trucks. In DATE, the company had CARDINAL plants actively involved in changeovers. PERSON said that is the most it expects to have in DATE, adding ORG will have CARDINAL in changeovers in DATE.
However, CARDINAL of those CARDINAL plants is a facility in GPE, GPE, which is the target of a strike by ORG. PERSON declined to say how much the strike will set back the new model launch there.
PERSON also declined to comment on status of talks between both the ORG and ORG. CARDINAL ORG members began walking off the job DATE over the issue of outsourcing -- the use of outside contractors. ORG also has yet to reach a new labour pact with the ORG.
On DATE, the number of GPE workers idled by the strike rose to CARDINAL from CARDINAL on DATE.","GPE's state refiner PERSON is pushing through a series of measures to alleviate diesel shortages that have sparked a bizarre rise in prices in the country since DATE, NORP oil sources said DATE.
After CARDINAL successive rises in official diesel prices in DATE, PERSON's GPE headquarters is now urging its CARDINAL refineries to increase the cut of diesel from every barrel of crude they refine.
""Gas oil (diesel) has been in short supply in the country as a whole since DATE,"" a well-placed ORG source said by telephone from GPE.
""As for PERSON, we are trying to regulate the production of gas oil as against gasoline to meet market demand,"" he said.
The current gasoline/diesel production ratio stands at CARDINAL for almost all of GPE's refineries. But PERSON in GPE is pushing for a more suitable ratio of CARDINAL, the source said, adding that the change would take DATE to materialise.
Diesel import quotas, which were not fully utilised in DATE due to high international prices, might also have exacerbated the shortage in the supply chain, and GPE might be forced to import more DATE, the ORG source said.
He declined to estimate the amount of diesel likely to be imported DATE.
The plan to raise domestic diesel output comes after CARDINAL officially sanctioned price rises in DATE to encourage refiners to produce more diesel, NORP oil sources said.
Domestic diesel prices had been frozen at MONEY per tonne since DATE, when GPE imposed strict price ceilings to crack down on profiteering. Prices were raised to MONEY per tonne in DATE and MONEY per tonne in DATE.
While GPE, fearful of inflation, keeps a watch on prices, NORP oil sources admit there is little central authorities can do to prevent flagrant price spikes in far-flung provinces hit by shortages.
""In situations of shortage, provinces can raise prices, it is difficult for GPE to control,"" the ORG source said.
However, some NORP sources said DATE that shortages might only be isolated to some inland provinces as some coastal regions were still enjoying high inventories.
""Storage levels are healthy in some areas,"" said a GPE-based trader with NORP state oil trader ORG.
Storage terminals at some coastal regions were at full capacity after importers sucked in a massive QUANTITY that started arriving from DATE, a ORG source in GPE said.
""Central authorities were afraid there wouldn't be enough for spring and even refiners were urged to crank up their gas oil production,"" he said.
Authorities might have frozen import quotas for now -- until the bottleneck clears -- but it was likely to be short term because GPE was short of diesel for DATE, he added.
A NORP oil trader from the southern GPE refinery, GPE's ORDINAL largest, said diesel prices had hit MONEY per tonne in some provinces suffering shortages.
""Prices were CARDINAL even MONEY in DATE in places like GPE,"" the trader said by telephone DATE. ORG raised prices because their net costs had increased.
NORP refiners have had sharply reduced profit margins since GPE raised domestic crude prices by MONEY in DATE to CARDINAL a tonne on PERCENT of its crude sold within the country.
Fearful of an inflationary backlash, GPE had, until DATE, kept prices of all oil products unchanged. PERSON, which made exceptional profits in DATE and DATE, bore the brunt of the rise in crude prices.
""Refining margins DATE, compared with DATE, were very bad. A lot of our profit went to our upstream companies,"" the ORG source said.
-- GPE (CARDINAL) DATE",0
"A reporter's call to the new director's secretary at a major NORP industrial company went something like this:
Journalist: ""Could you please tell me Mr. PERSON's ORDINAL name.""
Secretary (with no hesitation): ""Doctor.""
Czechs are obsessed with academic titles.
It was Justice Minister PERSON's use of an unattained ""Doctor of Law"" which forced him to resign from cabinet on DATE in a shocking mea culpa on the floor of parliament.
""In this society having a title plays such a role -- whether or not you have a degree,"" PERSON, the head of research at GPE's ORG, said.
Normal discussions in many offices begin with colleagues addressing each other as ""Mr. PERSON"" -- a title of mid-level academic specialisation -- or ""Mr. Doctor"", held by many Czechs from physicians to lawyers to PhD'd journalists.
PERSON was once a practicing lawyer who did complete law school but did not finish the certification process required to become a doctor of law. His colleagues and his party began using the title in literature, and he never refuted it.
His resignation came on top of the confessions of CARDINAL other deputies in the lower house of parliament who also used the unauthorised ""JUDr"" moniker in campaign material and biographies.
Apart from PERSON, CARDINAL resigned from parliament, the CARDINAL others so far have refused.
""I suspect that there may be a few more deputies or government officials in some positions who are claiming to have degrees which they in fact do not have,"" said PERSON, a WORK_OF_ART who did not insist on the use of ""Dr."" for this story.
The NORP prime minister, a highly-educated economist, has the full academic title -- Professor PERSON CSc (ORG, a former regional variation of WORK_OF_ART) -- but he does not inisist on its use by others.
Some of title-envy stems from DATE of communism which ended with DATE's bloodless ""Velvet Revolution"" led by a band of intellectuals and the dissident playwright PERSON.
NORP leaders insisted on an educated population, at least quantitatively, and even implemented programmes producing fast-brewed WORK_OF_ART's and engineers at colleges.
PERSON's resignation inspired commentaries on the subject of academic titles in DATE newspapers.
The DATE FAC quoted an unnamed cabinet member as saying the only minister safe from title-fixing accusations was ORG Minister PERSON - a former dissident who the communists would never allow to attend college.
The daily ORG used the PERSON incident to pay tribute to ORG, who became the country's president after the DATE revolution.
Havel, as a dissident, was forced by the communists to work in manual jobs and never was allowed to study for a formal degree. He now has a truckload of honorary doctorates from universities worldwide.
""He made himself a name, not a title,"" ORG wrote.","ORG (CNB) Governor PERSON on DATE said the central bank was committed to keeping the crown strong, despite some calls to devalue the appreciating currency to help exports.
Speaking after a meeting with Prime Minister PERSON and top business executives, PERSON said the central bank would keep the crown within the current band within which it fixes the currency daily against a mark/dollar basket.
""I said that we will try to keep the rate within the plus/PERCENT band (agains the mark/dollar cross rate),"" PERSON told reporters.
""I dismissed speculation that we would want to move the crown in some way outside the band,"" he added.
Analysts recently have been debating whether a devaluation of the crown might be needed to boost exports and help stem a ballooning current account deficit.
The trade deficit is threatening to send the current account shortfall to PERCENT of gross domestic product DATE after PERCENT DATE.
Some have argued that a devaluation is still required to help the country's goods to remain competitive while wages are rising and the economy is still transforming.
But others have said that the foreign capital inflow is still comfortably paying for the imports, and the current account deficit is still not dangerous.
Tosovsky said a stable crown had served its purpose in regulating the country's inflation, and a stronger crown would have positive effects on reforming NORP industry to make it more competitive.
He said a stronger crown ""should help faster restructuring of our economy, to help increase the added-value faster...and to help to bring our country closer in productivity to the countries that we want to compare ourselves with.""
The latter was a clear reference to ORG and especially neighbouring GPE.
The central bank fixes the crown DATE within a band plus or PERCENT from the central parity of the mark/crown basket.
It has been fixing it recently at PERCENT above parity to match a modest net inflow from foreign crown buying.
After the meeting at a government chateau east of GPE, Prime Minister PERSON said that the government would aim to provide more funds to export promotion agencies such as ORG, and its sister export insurance agency.
He said he also told the business leaders that it was also necessary for businesses to lower their expectations of higher inflation because it had become a self-fulfilling prophecy.
""We can not automatically appease the expectation of, let's say, PERCENT inflation, and make that the basis for all further expenditure -- price and wage items,"" ORG said.
He said that this would be key to the government's position in collective bargaining.
""We have to radically break this (inflation expectation). This must be the basis of this DATE's debates on collective agreements.""
-- Prague PRODUCT, CARDINAL-2-2423-0003",1
"Internet access providers and others who met with Net-savvy lawmakers said they fear ORG will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network.
Company representatives met TIME at the FAC with members of ORG, CARDINAL legislators with a common interest in the Net, to express their hopes and fears about efforts to make laws governing cyberspace.
""I think it's inevitable that there will be bills introduced that attempt to legislate the content of everything on the Internet,"" PERSON, vice president of ORG ORG Internet service, said after the meeting.
PERSON said it would be as difficult to keep ORG from making wrong moves as it would be to get the legislature to act to head off problems.
PERSON, president of Internet provider PSINet Inc., was more blunt. ""Be very careful or you will destroy this industry,"" he warned.
The members of ORG who attended the meeting pledged to try to protect the Internet.
""We have a lot of pretty tough work ahead of us,"" Representative PERSON, GPE-Pa., and a co-chairman of the caucus conceded. ""We have many, many issues coming down the pike from encryption to privacy, to copyright and taxation.""
Encyrption is the use of software to encode and decode information.
Sen. PERSON, also a co-chairman, warned that, despite the caucus, legislation will always trail developments in the private sector.
""The government making policy is never ahead of the curve,"" the GPE NORP said. ""If we do the right thing now, I guarantee you that by the time it's passed and the president signs it, we'll be behind the curve.""
DATE was a mixed bag for the Internet in ORG.
Legislators passed the Communications Decency Act, opposed by online companies and civil libertarians as an infringement on free speech rights, but also defeated measures that would have imposed liability on Internet providers for copyright infringement.
ORG chief scientist, PERSON, fretted that, with CARDINAL pro-Internet legislators out of CARDINAL in the ORG and CARDINAL in the ORG, most in ORG remained ignorant of the Net. ""We've got a long way to go,"" he said.
Companies interested in the Internet offered some conflicting goals for ORG. PERSON, president of ORG, urged the legislators to impose new laws protecting GPE products.
""ORG cannot avoid that all intellectual property has to be protected -- this can't be GPE without a sheriff,"" ORG said. But he also praised the Internet as ""the most valuable and spacious information greenhouse that's ever been built.""
PSINet's Schrader countered that existing laws already protected movies, books and other works. ""Everything is not new,"" he said. ""It's the same-old, same-old.""","Top seed PERSON cruised to a CARDINAL-6 6-4 win over GPE's NORP PERSON in the ORDINAL round of ORG on DATE.
In the only other match involving a seeded player on DATE, GPE's PERSON overpowered GPE's Nicklas Kulti 7-6 6-4.
Both players took advantage of the fast carpet court, blasting service winner after service winner to demoralise their opponents.
PERSON, ranked ORDINAL in the world, started slowly against world number CARDINAL GPE, before pulling away in the middle of the tie break and never looked back.
""It's always tough to play in a new hall and the carpet here is much faster than DATE in GPE,"" said PERSON who hit CARDINAL aces.
""But this was good preparation though because the tournament has so many top players. To win it will take CARDINAL win over a top CARDINAL player.""
Ivanisevic's is scheduled to play the winner of DATE's match between NORP PERSON and GPE's PERSON and could also have to get past ORDINAL seed PERSON and ORDINAL seeded PERSON it he is to reach DATE's final.
PERSON also used his dominating serve to wear down ORG.
""It was a tough match but I think I should have taken the ORDINAL set before the tiebreak,"" said PERSON. ""He fought back well but I felt more comfortable in the ORDINAL set.
""I enjoy playing a tough match right from the start, it focuses you very quickly.""",0
"ORG
(ORG) said on DATE it would change its methodology for
calculating industrial production, to bring it in line with
western standards.
ORG Chairman PERSON said the change, which updates
the old methodology introduced in DATE under communist
planning, would take effect in DATE.
The new methodology excludes multiple calculation of
semi-finished products, resources, and other materials and
commodities, which were included in output data at every stage
under the old method measuring the gross value of all goods
produced, the ORG said.
The new index will measure output changes by units, weight
or other measurements, of the total of CARDINAL products out of
CARDINAL product groups consisting of CARDINAL or more similar products.
The product groups's output indices will be placed in
sectors, using weighting equal to their weight in the
respective industrial sector.
The overall index will be calculated from weighted changes
in the sectoral indices.
Outrata said the old system of measuring ""gross
production"", or ""goods production"" was suited for the
management of a planned economy as it allowed to measure the
total summ of production and compare it with state plans.
Construction output data will be adjusted to the new
methodology at DATE, ORG added.
Preliminary DATE data will be released on DATE
after DATE being examined.
Outrata also said the data would include seasonally
adjusted and figures adjusted if the number of working days in
the period differed from previously measured periods.
He added the ORG would gradually, throughout DATE,
start releasing seasonally adjusted and pro-rated figures for
most data on DATE as the raw figures.
 MONTH (DATE)	REAL ORG. OUTPUT		REAL ORG. ORG
		   UNDER CURRENT METHOD (YR/YR)   UNDER NEW METHOD
 Sept (pct)	   +6.9				 +7.8
 August		 +5.9				 +0.9
 DATE		  +15.7				+24.5
 DATE		   +1.5				 +2.2
 May		    +6.0				 +1.8
 April		 +12.8				 +6.9
 March		  +4.5				 +2.1
 Feb		   +13.4				+12.2
 Jan		   +12.0				 +7.8
Note. Current methodology examines companies with CARDINAL
employees and includes estimates for smaller firms. The new
methodology includes data from CARDINAL firms with CARDINAL or more
employees. As of DATE, it will include data form firms with
CARDINAL or more workers.
-- Prague PRODUCT, CARDINAL-2-2423-0003","Pro-democracy demonstrators stormed into a plush GPE conference centre on DATE in an attempt to disrupt a historic meeting convened by GPE to choose GPE future leaders.
They were stopped by police before reaching the meeting, inaugurated earlier in the day by GPE's Foreign Minister PERSON.
Protesters had gathered before dawn outside ORG where the CARDINAL-member ORG was due to start its DATE mission to select the territory's Chief Executive and CARDINAL members of a replacement legislature.
As delegates were returning from lunch, CARDINAL demonstrators plunged through a side door of the convention centre and were chased up escalators by police.
They managed to reach the ORDINAL floor, CARDINAL floor away from the meeting, before CARDINAL were seized by police as they unfurled banners and shouted slogans.
Eyewitnesses said that CARDINAL prominent members of ORG, PERSON PERSON, and independent activist PERSON, were among those detained in the building.
In a ORDINAL attempt to storm the building, CARDINAL screaming demonstrators were dragged away by police on the street outside.
Scuffles ensued and CARDINAL policeman was slightly injured when up to CARDINAL chanting protesters surged against crowd control barriers, waving models of black coffins above their heads to symbolise the death of democracy.
Some of the demonstrators had camped TIME outside the building where GPE will formally return its colony to GPE in DATE.
They were surrounded by police at dawn and herded behind barriers across the road.
GPE pro-democracy lobby has attacked the selection process and refused to take part in the selection committee which they have branded as undemocratic.
They are adamantly opposed to GPE's plan to dissolve the elected legislature and replace it with an interim provisional chamber until new elections are held.
Waving banners and using loudhailers, demonstrators chanted ""We want a directly elected legislature"" and ""We reject the reversal of democracy"".
Some of them held up black boxes, saying ""This is a coffin. It represents the death of democracy and freedom in GPE.""
Members of ORG had planned to pass a letter to PERSON but were unable to get past police lines. An official eventually came out to accept the letter.
""We hope you will exchange views with GPE people on the setting up of the provisional legislature and selection of ORG,"" the letter said.
ORG was holding a ORDINAL round of voting on DATE to narrow down the list of candidates to step into the shoes of colonial governor PERSON when NORP rule ends at DATE.
To qualify, candidates for the job of Chief Executive must be nominated by CARDINAL members of the committee.
CARDINAL business magnates and CARDINAL former judges are regarded as the front-runners in the race. ORG meets again on DATE to pick the winner.",0
"NORP chemicals group ORGamp; ORG said on DATE that a keenly-awaited drop in raw materials prices had failed to emerge.
In an interview with ORG, ORGamp; ORG chief executive PERSON said although costs had stabilised after sharp gains DATE ""there has still been a small net increase, which has meant that any improvement in our performance has had to come from our own efforts, whereas we had been hoping for some reduction.""  
Cost increases have affected the performance of the whole industry, and added an extra 40 million stg to ORGamp; ORG's bills in DATE. The GPE-based group is the world's biggest and lowest-cost producer of wet phosphoric acid, used in a wide range of processes from putting the tang into fizzy drinks to making soap powders. Rises in phosphorous prices, especially in GPE and the rest of LOC, partly eroded gains from strong demand for phosphates in DATE.  
Paul, who steered ORGamp; ORG back onto the stock market DATE after DATE as a subsidiary of GPE giant ORG, said another threat on the horizon was the continued strength of sterling, which could raise the cost of exports from the GPE and reduce foreign earnings.
""Where this isn't expected to have a substantial effect on DATE results, because most of the contracts are in place, it is causing us to look very hard at the DATE budget because of inevitable pressures on translation and transaction,"" Paul said.  
He added it was difficult to quantify the impact of the pound continuing at current high levels, although he said strength against the dollar would act as a ""net hedge"" by lowering raw material costs.
Although phosphorous-derived products have driven profits since its foundation in DATE, ORGamp; ORG also produces specialty chemicals, including flame-retardants for protective clothing and furniture, and surfactants, foaming and wetting agents used in detergents and soaps.  
Paul said in some ways the company's relaunch had come at a difficult time, with its ORDINAL set of interim results as a newly independent company in DATE heralding a worldwide downturn in the chemical industry as higher costs ate into profits.
The group's share price has clawed its way back from a low of MONEY DATE to stand at MONEY DATE TIME after touching a peak of MONEY in DATE. But Paul warned that shareholders and analysts should not expect ""DATE spectaculars,"" especially in terms of a share buyback.  
News at DATE that the group had sought authority for a share buyback caused some excitement, particularly given its low gearing, which stood at PERCENT at DATE. ""The directors got permission to buy back shares, but without plans to do so,"" Paul said. ""People read rather more into it than was justified.""
Nor will cash be used for acquisitions, unless they ""tidy up"" shareholdings in associates or offer technological benefits. Paul said growth would be organic, with a reinvigorated research and development program producing a range of new products, including improved water treatment and flame-retardant chemicals and a breakthrough to stop paints from flaking.
""We are not looking for DATE spectaculars at ORGamp; PERSON. We have been around for DATE and and even ORG's ownership (from DATE) could be seen in retrospect as a phase in the history of the company,""said Paul. ""Our aim is to build up a solid performance DATE.""
PERSON +44 CARDINAL 7717","Moving to capitalize on enormous growth in the use of laser departmental printers, ORG on DATE will launch a new genre of printers it calls the ""mopier,"" to steal work from the copy machine.
The new device, dubbed ORG, reduces the need to use copiers by allowing workers to make multiple original prints -- or ""mopies"" -- from their own desktop.
HP, which is already a market leader in printers, faxsimile machines and scanners, hopes the new model will help it capture a share of the MONEY a year copier market.
Analysts expect the printers will present a challenge to copy machine giant ORG and other copier makers, as sales revenues of midrange, CARDINAL pages per minute copiers is projected to drop by MONEY by DATE.
""Xerox is a dominant copier and printer vendor. This is a challenge and an opportunity for ORG,"" said PERSON, industry analyst at the market research firm ORG.
The market for midrange printers based on ORG CARDINAL-page per minute engine, until recently a relatively small segment of the market, is projected to surge by PERCENT DATE from DATE, he said.
With a GPE list price of $MONEY, the machine is more expensive than other departmental laser printers, but it contains more features and it is priced less than midrange copiers costing MONEY.
Executives at ORG ORG in GPE, GPE, said the ORG is part of its recently-unveiled ORG strategy aimed at addressing work flow and document management problems at work.
""Our customer research found that people are already mopying DATE,"" CARDINAL of the executives said in an interview.
The new machine is based on ORG's existing ORG 5Si models, but adds finishing tasks -- such as stapling and collating of documents.
A user-friendly interface to help guide technologically-challenged workers through the printing options and tells them when their job is completed.
The Mopier is designed to cut down on the time office workers spend running between printers and copy machines, waiting for others to copy, and fixing paper jams.
It contains a QUANTITY hard drive and reduces network traffic as well by storing each print task once and printing the number of copies specified, rather than requiring each print job to be sent down the network one at a time.
Copies can be stored in mailbox bins until picked up.
The initial Mopier model may pave the way for a whole family in the future, if it lives up to its expectations.
The introduction is timed to take advantage of a major shift towards network printing -- ORG reported the number of pages printed on printers in DATE for DATE exceeded those printed of photocopy machines.",0
"For managers at the trendy specialty juicer ORG, the revelation that their apple juice products were associated with a potentially deadly outbreak of E. coli food poisoning has come as a shock.
The company, headquartered in the easy-going coast community of LOC, was founded DATE on the premise that fresh, natural fruit juices nourish the spirit.
Company executives were morose as they met reporters for the ORDINAL time on DATE in the parking lot of the company's modest building, across a creek from the town center.
""It is very tough, to be honest, to be focused on health and nutrition all of your life and have this incident happen,"" PERSON said. He founded the business with a childhood friend in GPE in DATE, using a used juicing machine in a shed behind their house.
Odwalla has grown by PERCENT a year, with DATE sales in DATE, surging PERCENT to MONEY. It is now estimated to account for PERCENT of the fresh-juice market in the CARDINAL NORP states it serves, together with GPE, GPE.
The company prides itself on using cold processing, which it says leaves vegetable and other biological nutrients intact, and on a rapid store distribution system. Its marketing emphasizes freshness and the absence of pasteurization and artificial additives or preservatives.
Even its name, from a song poem by ORG of GPE jazz group, displays a sense of mission. The PERSON is a leader who guided the ""lost people of the sun"" out of the ""gray haze"" -- of ""overprocessed foods"" in this case.
Steltenpohl and Chief Executive Officer PERSON said PERSON had mobilized its CARDINAL trucks and drivers, armed with hand-held computers, to recover recalled bottles from the shelves of CARDINAL outlets in GPE, GPE, GPE, GPE, GPE, GPE, GPE and GPE.
Executives immediately offered to refund the purchase price of any of the company's drinks, even those not among the CARDINAL out of CARDINAL fruit varieties recalled. They also said the company would pay for medical treatment for anyone found to have become ill through drinking an PERSON product.
Although PERSON said the company had product liability insurance that he believed would cover the incident, the executives declined to answer questions about the financial impact of the recall and any subsequent actions.
Odwalla shares were up $MONEY at $MONEY by DATE TIME after shedding CARDINAL of their value on DATE.
PERSON, an analyst at ORGamp; ORG, said publicity surrounding the recall would hurt sales but with insurance and MONEY in cash, ""PERSON has the resources to weather the storm.""
Odwalla, which takes the precaution of keeping samples of each batch of juice it produces, is working with ORG and GPE state authorities to determine how contamination might have occurred and how widespread it was.
But company officials said it was too soon to question their philosophy.","NORP life office ORG is tipped to make a strong, historic debut on the NORP and GPE bourses on DATE after its institutional offer closed CARDINAL times oversubscribed DATE.
The final price of A$MONEY per share was higher than the indicative bidding range initially set for institutions, and gives GPE's ORDINAL biggest life office a market capitalisation of MONEY (MONEY) on listing.
""It was very significantly over-subscribed and at A$MONEY there's no doubt that we could have sold it a number of times over,"" National Mutual managing director PERSON told ORG in an interview on DATE.
ORG is GPE's ORDINAL listed life office and, at A$MONEY per share, will rank among the market's top CARDINAL firms.
The shares could climb steeply on both the NORP and GPE exchanges on DATE, as institutional bidders which failed to secure enough shares in the offer step into the market to lift their stakes, share analysts told ORG on DATE.
Institutions received on average PERCENT of the allotments sought, a market source told ORG.
""There's certainly keen demand...,"" WORK_OF_ART director of equities, PERSON, said. The shares could reach a high of A$MONEY, he added.
National Mutual's listing completes its DATE transition from a mutual company owned by its policy-holders to a listed group free to pursue its strategic focus on LOC, unshackled by a mutual requirement to act solely in policy-holders' interests.
National Mutual will be owned PERCENT on listing by its NORP parent, the insurance and financial services giant ORG, which is prevented under the terms of the float from selling down its stake for DATE after the listing.
ORG, which effectively bought into ORG DATE at around A$MONEY per share, is sitting on an enormous paper profit. It cannot increase its stake in ORG unless given the NORP government's go-ahead.
Under the float, ORG CARDINAL policy holders were offered either shares or a cash alternative. Shares not taken up were offered to retail investors and institutions.
Retail investors were offered the shares at A$MONEY DATE, before the final price was set at the close of institutional bidding DATE, giving mums and dads a strong temptation to take a quick profit on DATE, analysts said.
""There's going to be a fair amount of underlying demand from institutions to get the stock, but there may be a little bit of stag profit-taking as well,"" a GPE-based analyst said.
ORG Tomlinson said the listing, demutualisation and DATE capital injection of MONEY by ORG marked the end of a tough DATE, especially for life subsidiary ORG.
""DATE will mark DATE a DATE diffcult period and put us into a new area where we can...finalise the turnaround of ORG in GPE and GPE and try to take further advantage of our opportunities in LOC,"" he said.
A$1 = US$MONEY",0
"GPE and GPE are deadlocked on core issues central to a smooth handover of GPE to GPE in DATE, ranging from citizenship rights to subversion and troop deployments, officials said on DATE.
""With DATE to go under the NORP flag, time is running out fast to sort out these problems,"" a NORP official said on the eve of NORP talks starting on DATE.
""GPE has to decide whether it wants things to go smoothly DATE or not.""
NORP and NORP chief negotiators meet on DATE for DATE of talks under the NORP ORG (ORG) forum, haggling over handover details.
There have already been signs over DATE that handover talks have soured, blocking progress on major details of the flag change, set for DATE DATE.
NORP and NORP experts who met on DATE failed to agree on a formula for GPE to send an advance party of troops into GPE before the handover, and DATE a big quarrel flared over a liberal anti-subversion law proposed by GPE.
""We haven't made as much progress as I would have liked to have seen but we have agreed that this is an important subject,"" NORP representative PERSON said after the talks on troops.
""We must continue our efforts and we must meet more often on this subject,"" Paul said. A source close to the talks said GPE had yielded ground by abandoning a demand that the advance party bear arms, which GPE has publicly opposed, and that the argument was now over troop numbers.
JLG working-level negotiators were due to meet again on DATE to discuss citizenship and right of abode issues.
A NORP official said GPE was especially worried by the fact that GPE had come to no agreement on the terms whereby GPE citizens with a domicile abroad can qualify for permanent residence in the territory after DATE.
NORP officials have previously proposed that citizens must be back in GPE on the day of the handover or lose their right of abode in the territory, which is to become an autonomous GPE) of GPE.
NORP officials have warned that unless this problem is solved, there could be a chaotic mad rush by overseas GPE people to the territory on the eve of the handover.
The main negotiations on DATE open against a backdrop of tension heightened by a liberal anti-subversion law that the colonial government will put to the legislature on DATE.
The legislation aims to set legal standards that would exclude GPE-style jailings of dissidents.
GPE has said GPE has blocked efforts to discuss the bill although handover documents require a law to be legislated on the offences of subversion, secession, sedition and treason.
NORP officials said enactment of the law was not for the colonial government to carry out now, but for the SAR, after DATE, and they accused Governor PERSON of lying when he said GPE had blocked discussions on it.
ORG plans to launch a new motion of censure on DATE opposing its own abolition and GPE's appointment of a provisional legislature DATE.
On DATE, more political drama related to the handover is likely when a legislative inquiry panel summons senior officials to testify under oath about the sudden retirement of GPE immigration chief PERSON DATE.
Finance Secretary PERSON and PERSON's successor PERSON are both to testify. PERSON's early retirement has fuelled a welter of questions among politicians about why he was permitted to depart so abruptly.","NORP Governor PERSON challenged business on DATE to defend the rule of law that had made GPE a success, and to destroy fallacies that may harm the territory in the run-up to GPE's DATE takeover.
""The rule of law is not an optional extra. It is what makes GPE different, it is what makes GPE successful,"" PERSON told ORG in a speech.
""Without it, a lot of you would not be here,"" he said.
GPE hands back GPE to GPE in DATE, ending a century and a CARDINAL of colonial rule over an outpost that has become one of LOC's economic pearls.
GPE has promised GPE substantial autonomy and the preservation of its capitalist system under a ""CARDINAL country, CARDINAL systems"" formula.
Patten and chamber chairman PERSON glossed over an image projected in local newspapers lately that the governor and the business community were at loggerheads over DATE-related issues.
Several times DATE PERSON chastised businessmen who pandered to GPE's communist rulers to beg favours and thus invited GPE to encroach upon GPE autonomy.
Tien stressed at DATE's gathering that the key business body backed the government on key policies. Patten thanked them, drawing applause, and said his critics were in a minority.
Tien said the chamber supported the pegging of GPE currency to the GPE dollar, the rule of law, the independence of judges and the civil service, and the commitment to good government.
But he did not mention GPE's demand for GPE fully elected legislature to continue after the DATE handover, a major plank of PERSON's policy, or GPE's plans to scrap this legislature and replace it with an appointed ""provisional"" body.
Asked by one businessman if there were any conditions under which PERSON would cooperate with the ""provisional legislature"", the governor flatly replied ""No"".
Patten stressed the value of a political opposition. He cited a poll in which CARDINAL of executives questioned said opposition to government posed no threat to a territory's prospects and that GPE opposition was in fact too weak.
""I'm very grateful to the chamber for everything they've been doing to redress the balance,"" he said, drawing guffaws of laughter for his ironic reference to barbs that he has received from some local business leaders in DATE.
Patten exhorted business to speak out for GPE autonomy, opposition to corruption, and for basic freedoms. He also asked it to help destroy CARDINAL big fallacies that he said harmed GPE prospects and image.
These were the notions that GPE economy needed stimulative intervention, that it was over-regulated and was losing its competitive edge, that welfare spending was too high, and that the rule of law was irrelevant to economic success.
""You can give GPE a lead in defending the rule of law, open and accountable government... by helping to nail the fallacies I have described. When you speak up for GPE, it makes a difference,"" PERSON said.
The fact that CARDINAL the companies listed on the GPE bourse had domiciles in places such as ORG or GPE, he said, showed the value the business community attached to the rule of law.
In DATE many firms have hedged their DATE risks by shifting their legal domiciles to overseas jurisdictions.",1
"ORG, pitted against the nation's top CARDINAL defence contractors, hopes to emerge as CARDINAL of the winners DATE when the ORG narrows the field to CARDINAL competitors for the biggest weapons project of DATE.
ORG, ORG and ORG are each leading teams bidding on a ORG contract to build CARDINAL new joint strike fighters -- a deal that could be worth MONEY over DATE.
Defence officials will announce on DATE the results of a hotly contested ""down select"" that will eliminate CARDINAL of the CARDINAL teams and leave the remaining bidders to build prototypes for a ""flyoff"" and final decision in DATE.
""We have identified the joint strike fighter as our No. CARDINAL new business opportunity,"" said PERSON, a spokesman for ORG, the nation's biggest defence contractor. ""We have focused resources from throughout the corporation on our configuration and all the effort necessary to emerge as the winner.""
The contract also is regarded as crucial for No. CARDINAL ORG, which recently announced its intention to reduce its commercial aviation efforts.
""Winning is more critical to ORG and ORG than it is to ORG,"" said analyst PERSON of ORG.
But, he said, ORG's entry was aggressive, promising up to PERCENT commonality among the CARDINAL versions of the jet and a ""flyaway"" cost averaging MONEY for each plane, excluding CARDINAL in research and development.
""I think they're still viewed as being the dark horse, but if I really had to bet some money, I'd bet that PERSON is going to be the loser,"" GPE said. ""They already have CARDINAL of the PRODUCT, and the other CARDINAL proposals are at least as good or even better.""
The joint strike fighter is aimed at cutting costs by serving the needs of ORG, NORP, ORG and ORG with a single common airframe.
Some within the ORG chafe at the concept of a multi-purpose jet design with CARDINAL versions -- including advanced air-to-ground strike capability for ORG and vertical ""hover"" landing capability for the NORP.
But the project appears to have the momentum to carry it forward into DATE, when it would replace CARDINAL existing fighters after delivery begins in DATE.
In addition to the CARDINAL jets being ordered by the CARDINAL services -- including CARDINAL for ORG -- industry executives believe another CARDINAL could be sold for export to GPE allies.
While ORG has major roles in current projects, including the PRODUCT bomber and PRODUCT fighter, the GPE-based company, best known for its commercial airliners, has not been the prime contractor on a tactical military jet since the ORG's LAW.
But analysts say the company's innovative design for the joint strike fighter, which includes CARDINAL engine type and one wing for all CARDINAL versions, may well earn it a place among the CARDINAL finalists.
""ORG's design became much more credibly viewed because they're leveraging their derivative technologies that they've built up over DATE of commercial production,"" said PERSON, an analyst at ORG.
ORG has signalled its intention to remain a major player in the military arena with its planned purchase of ORG defence and space properties for MONEY.
""We've come forward with a very innovative solution,"" ORG defence and space President PERSON said. ""The ORG is almost obligated to give us an opportunity to demonstrate that we can in fact deliver what we've committed to.""","GPE has captured the big prize in its recognition battle with rival GPE after GPE announced plans to switch formal ties to GPE.
But the lengthy transition of DATE signals that much bargaining remains on the shape of future relations between the CARDINAL governments, diplomats in GPE said on DATE.
""We...welcome (NORP) President PERSON positive statement concerning normalisation of relations between GPE and GPE,"" NORP ORG spokesman PERSON told a news briefing.
""If GPE can recognise reality at an earlier date it is in its own interests to do so,"" he said.
""This is in keeping with the basic interests of the peoples of the CARDINAL countries,"" PERSON said.
PERSON told reporters in GPE on DATE that GPE would switch diplomatic recognition from GPE to GPE by DATE.
Cui declined to comment on GPE's decision to switch only by DATE.
""GPE must recognise there is only one GPE, recognise that GPE is a part of GPE and sever so-called diplomatic relations with GPE,"" PERSON said.
""GPE is an inseparable part of GPE. GPE government is the sole, legitimate government of all GPE,"" he said.
""This has been our longstanding stand. It is very clear... Our stand has not changed,"" the spokesman said.
GPE is the biggest of just CARDINAL states that recognise GPE's exiled ORG rather than the communist GPE on the mainland.
GPE and GPE have been separated since a civil war ended in DATE. GPE sees GPE as a rebel province not entitled to foreign ties while GPE insists its CARDINAL people should have a voice in international affairs.
""The South Africans have been the big fish for GPE,"" said a GPE-based diplomat. ""The others are just minnows.""
But in most diplomatic divorces, the break is swift, and diplomats said GPE was still trying to work out its future relationship with both sides.
""They are trying to gain maximum concessions out of the CARDINAL sides,"" said a diplomat.
GPE is probably looking for a package deal that includes investment and trade guarantees under a formal legal framework with GPE.
It is also hoping to limit damage.
PERSON, announcing the break wtih GPE, pointedly thanked the island for its economic support during his nation's transition from minority, white rule to democracy.
The announcement well ahead of formal recognition would also help GPE preserve its consulate in the NORP colony of GPE - which returns to NORP rule on DATE.
GPE had been hoping to maintain official relations with both sides, a goal that proved unrealistic.
GPE had also been looking to duplicate a framework with the LOC states of GPE, ORG and GPE which have formal relations with GPE but have signed a ""mutual recognition pact"" with GPE, diplomats said.
""These smaller states may get away with a format such as this but GPE apparently was not in the same category,"" said a diplomat.",0
"With the dark cloud of high raw material costs now clearing, large GPE newspapers companies are expected to report good DATE earnings despite weak growth in advertising.
""I keep hearing good news out of these guys, and they're all smiling about newsprint,"" said ORG newspaper industry analyst PERSON.
Newsprint for newspapers now costs MONEY a ton, much less than the average forecast of $MONEY a ton at DATE, he said. Per ton prices peaked at $MONEY DATE.  
""Trends in advertising have been a little sluggish, but with lower newsprint costs, most newspapers should have a strong quarter,"" said newspaper industry analyst PERSON at ORGamp; Co.
Retail advertising were tepid through late summer, after rising PERCENT during DATE, compared with DATE, analysts said.
Classified advertising rose PERCENT in DATE but likely cooled in DATE, ORG said.  
Times Mirror Co will enjoy an especially strong lift from newsprint savings because of its inventory accounting methods and a sharp decline in its consumption of newsprint DATE after shutting CARDINAL big city papers, ORG said.
""The fall in newsprint prices coupled with ongoing cost reduction efforts will result in strong DATE earnings for newspaper publishing companies DATE and provide further benefit into DATE,"" ORG said in a written report.","GPE stocks ended softer on DATE after the important gold sector crumbled under the weight of falling bullion prices.
ORG key CARDINAL Composite Index fell CARDINAL points to CARDINAL, below the CARDINAL level. Trading was brisk at CARDINAL shares, worth MONEY (MONEY).
The heavily weighted golds group lost PERCENT after bullion prices dropped in GPE. DATE COMEX gold finished the day US$4.10 cheaper at US$MONEY an ounce.
""The gold index is finally bowing to reality"" after recent gains, said ORG strategist PERSON in a market report.
DATE the ORG's CARDINAL index has jumped PERCENT since the start of trading, aided by a surge in gold stocks.
CARDINAL of GPE's CARDINAL sub-indices finished weaker, led by golds and financial services. The gaining groups were conglomerates, transports, retail and pipelines.
""The banks were significantly weaker,"" CARDINAL trader said. ""That's going to take the market lower.""
Falling issues powered ahead of advancing ones CARDINAL to CARDINAL. Another CARDINAL traded flat.
However, traders said DATE's weakness was a temporary blip ahead of more DATE gains. In the past mutual fund managers tended to shuffle portfolios before DATE to provide a strong finish to their year, which has boosted equities markets, they said.
Among the hot stocks, shares in gold prospector PERSON were still volatile ahead of a potential partnership deal with ORG over ORG huge gold discovery in GPE, GPE.
PERSON dropped MONEYMONEY on trading of CARDINAL shares while PERSON, the world's ORDINAL gold producer, lost MONEY, also in brisk dealings.
The nation's largest bank, ORG, fell after influential GPE investment firm ORGamp; ORG downgraded the stock to neutral from outperform, saying it was fairly valued. Shares in GPE closed C$MONEY weaker at C$MONEY after sky-rocketing DATE.
Integrated oil company ORG climbed to new DATE highs in GPE as rumors circulated that it could be the target of a takeover bid. ORG shares rose MONEYMONEY in light trading.",0
"ORG chief PERSON has put his personal stamp on the legacy of GPE's paramount leader PERSON with a television paean aimed at portraying him as the DATE patriarch's rightful heir, analysts said.
The primetime television series was also carefully crafted to limit the role of those who might challenge PERSON's claim to the PERSON mantle or who might disagree with his version of the patriarch's role, they said on DATE.
""This was building up PERSON to build up GPE,"" said a Western diplomat who has long experience with GPE.
That view was widely shared by GPE analysts.
""PERSON wants to use the PERSON legacy to build up his own public image,"" said another diplomat.
ORG spent DATE on the series that traced PERSON's personal long march from his birthplace in southwestern GPE to the pinnacle of power.
In a breathless tone, it heaped praise on the veteran leader for his pragmatic policies that made his countrymen both proud and prosperous.
State television estimated CARDINAL people -- PERCENT of the CARDINAL people who have access to television -- watched the programme broadcast over CARDINAL successive evenings.
PERSON, who is officially referred to as the ""core"" of the ORDINAL generation of GPE's leadership, introduced the series and entered the final judgment on PERSON's contribution to building a modern NORP state.
""He is a worthy outstanding NORP and a stalwart communist,"" PERSON said of the man whose reforms turned a backward NORP state into an economic powerhouse.
PERSON has not been seen in public in DATE and his last appearance showed him looking frail and faltering.
The final episode of the television series showed PERSON announcing his retirement from his last official post in DATE when he stepped down from the party's powerful central military commission.
Seen strolling with PERSON at his side, PERSON called on the party to rally round his anointed successor.
Analysts said much of the drama from an otherwise predictable series stemmed from what was omitted.
The series made no mention of PERSON's previous anointed successor PERSON, the man most closely linked with guiding GPE's reforms until he was dismissed in the power struggle that accompanied the crackdown on the pro-democracy movement in GPE in DATE.
Viewers received only a brief glimpse of PERSON, who has been under house arrest since DATE, as he was shown signing the historic NORP accord of DATE that returns GPE to GPE DATE.
The late PERSON, PERSON's other heir apparent who fell from grace, was given a perfunctory mention while former President PERSON, who was dropped in DATE amid fears he was building up his own faction to mount a leadership challenge, made only a brief appearance.
PERSON's children were shown alongside the elderly leader, holding him steady as he walked on uncertain feet, speaking into his CARDINAL good ear or buttoning his tunic. They had no opportunity to give their own assessment of the man who is patriarch of their family as well as ORG.
While the series paid homage to PERSON's DATE tour of southern GPE's special economic zones, which he used to kick-start stalled reforms, viewers saw a sanitised version.
""A key part of the southern tour was PERSON's anti-leftist theme,"" said a NORP academic. ""This made no mention of that.""
Analysts said PERSON was placating ORG left wing as he prepares for the party congress scheduled for DATE, a pivotal meeting that will set the nation's political and economic course for DATE.
""By holding tightly to the PERSON legacy he is trying to demonstrate that he is the one to interpret PERSON,"" said a GPE analyst. ""And he is the one who will set the tone for the congress.""","GPE's central bank chief has said that inflation would be a modest PERCENT DATE and this showed the state's economic policies were working.
But PERSON, governor of ORG, lashed out at companies that had taken advantage of tight money policies used to tackle inflation by lending money at excessively high rates.
""The appropriately tight monetary polices have achieved clear results which have been acknowledged both in GPE and abroad,"" PERSON was quoted as saying in ORG on DATE.
""We can now control inflation to PERCENT for DATE,"" he said.
GPE's retail inflation stood at PERCENT year-on-year in DATE and at PERCENT in DATE alone.
GPE has said it wanted to keep inflation within PERCENT for DATE, down from PERCENT DATE and a communist-era high of PERCENT in DATE.
But the central bank chief had harsh words for companies that had taken advantage of the tough austerity programme put in place DATE to deal with DATE of inflation.
He did not name any of the offenders but he said that some ""monopoly groups"" and publicly listed companies were lending out money at excessively high rates.
PERSON, which has stock listed in GPE as well as in GPE, has run afoul of regulatory authorities in the NORP colony in the past for lending out funds raised from its public offer.
A senior NORP economist who asked not to be named said several big ministries were cash-rich and able to earn more than bank deposit rates by lending out their funds.
""The big offenders are some cash-rich ministries,"" said the economist. ""They can earn PERCENT on their money.""
That would compare with interest of PERCENT earned on DATE bank deposits.
Other economists have said that higher rates were available for even more speculative lending.
Dai gave no indication of whether any measures were being planned to address these problems, although he said that funds in the banking system were unevenly distributed.
He said that GPE had already taken steps to curb illegal money market trade and that it had taken steps to ensure that other unauthorised financial organisations did not act as commercial banks.
""There are many violations of financial regulations,"" PERSON was quoted as saying. ""There must be an expansion of supervision over the financial sector.""",1
"NORP carmakers ORG and ORG said on DATE that they were in talks with the government on a long-term plan to rejuvenate their workforce.
But the companies did not confirm a newspaper report they were seeking approval for a DATE plan to cut CARDINAL jobs in an early retirement scheme in exchange for hiring CARDINAL young people. ORG said the cost of these operations could be MONEY (MONEY).
""Our chairman PERSON and ORG chairman PERSON have written a letter to Prime Minister PERSON in DATE with a proposal,"" a ORG spokeswoman said.
""There have been discussions since but the government has not yet replied,"" she added.
At ORG, officials declined to comment on the existence of the letter but a spokesman said that the NORP car industry needed to rejuvenate its work force.
""In GPE, the average age of a car worker is DATE but our competitors, especially NORP, have an average age of below DATE,"" the ORG spokesman said.
He said that this gave PRODUCT and ORG a competitive handicap at a time when the markets are increasingly being opened up -- from DATE a quota system limiting NORP car imports in LOC will be lifted.
Younger workers are not only cheaper but also more flexible and open to new techniques such as ""empowerment"" - a management idea giving workers more responsibility for their own work, the ORG official said.
At ORG the average age is DATE. ""We have old factories, the oldest is at ORG which dates from the war, and therefore the average age is rather high,"" the ORG spokeswoman said.
ORG had a worldwide staff of CARDINAL people at DATE. Of them, CARDINAL were involved in car production in GPE.
At ORG, the group number is CARDINAL of whom CARDINAL are in car production in GPE.
NORP car makers are experiencing difficulties and a DATE government old-for-new car incentive scheme has not helped to overcome market problems.
($MONEY French Franc)","ORG on DATE said it had signed a deal with the NORP patent office for the sale of a disc-based storage system and was in talks with the NORP patent office about a similar deal.
The CARDINAL events follow an earlier system sale to ORG, based in GPE.
""It's too early to talk about the details of the NORP deal, we are still in discussions. It can still take some time before we have a contract,"" PERSON, vice-president LOC, LOC and LOC, said in an interview.
He gave no financial details of the NORP deal.
ORG, based in GPE, GPE, specialises in the storage and retrieval of digital information and increasingly is moving away from digital documents to bit-map images. Bit-map images are digital pictures. Bit-map images open up the possibility of storing medical scans or video images. Potential users of ORG's new products are members of the medical profession or broadcasters.
ORG has disc-based products as well as tape-based products. In tape, it makes products for such companies as ORG and ORG.
On DATE, the company signed a deal with ORG ORG unit under which ORG will market its GPE tape system, a system for storing information.
But the ORG deal is less far reaching than a DATE deal with ORG under which ORG will make ORG branded products.
ORG is investigating the deal and in particular is looking at the possibility of anticompetitive practices in the direct-access storage devices industry. Pending completion of the probe, the deal cannot be finalised. DATE, both ORG and ORG have said the inquiry was routine and expected.
Financial analysts say that, should the deal go through, it could add MONEY to ORG's revenues.
""That was a major deal, it was big change for ORG. Never before had ORG allowed another company to build such major components as storage facilities,"" McGarvie said.
According to the IDC research buro, ORG had an PERCENT share of the disc-based storage market in DATE while ORG had a PERCENT stake.
Should the deal go through, the CARDINAL companies would hold CARDINAL of the market, estimated for DATE at QUANTITY mega bytes), valued at MONEY. The combined market share could grow to PERCENT in DATE.
ORG is currently market leader with PERCENT, and GPE's ORG has a share of PERCENT.
""The deal is mutually exclusive. ORG will also fund our research and while we begin with the PERSON product it will also involve new products,"" McGarvie said. The GPE, a ORG product, is a storage system for discs.
ORG's Toulouse facility in GPE, opened in DATE, will make ORG-branded products and the deal is expected to speed up the unit's expansion.
At Toulouse, CARDINAL people work on manufacturing and research and development. PERSON is committed to increase this to CARDINAL people within DATE and McGarvie said that this would now easily be met, probably sooner than in DATE.
In the medical imaging and video market, ORG sees a lot of opportunities but for the moment it has not yet signed big deals. ""We are in discussions for some deals which could be concluded DATE,"" NORP marketing manager PERSON said.
On a horizon of DATE, McGarvie believes the company could reap benefits from the Internet and Intranet online network services, coupling its storage facilities to online retrieval systems.
ORG acquired the company ORG DATE. This company offers network solutions as well as security products such as ORG, which is a ""firewall"" products.
A firewall shields sensitive internal computer information from the public internet and aims to prevent hackers from breaking into commercially vital information data bases.
""It's one of the main worries at the moment. Many companies want to go on the net but they fear that they will open up their internal systems to possible intrusion,"" McGarvie said.
-- GPE newsroom +33 CARDINAL DATE",1
"Shareholders in NORP property company PERSON on DATE left a large question-mark hanging over the future of the group, which is currently facing a break-up demand and a merger proposal from a smaller rival.
Greycoat shareholders postponed for DATE a vote on a proposal to sell off the company's MONEY (MONEY) portfolio in anticipation of talks with predator PERSON, run by CARDINAL former ORG property analysts.
But ORG said it still has to see concrete proposals from GPE, which wants a paper merger of the CARDINAL and then a possible de-merger of PERSON's largest property assets.
""We have yet to see any detailed proposals from GPE. As we keep saying we will consider those proposals once they are received. So far we have only seen CARDINAL page of vague bullet points,"" a ORG spokesman told ORG.
The rebel investment fund shareholders which put forward the break-up resolution are the UK Active Value Fund, ORG and ORG. They PERCENT of the shares and are advised by PERSON ORG.
But at an extraordinary general meeting NORP PERSON asked shareholders to put off a vote on their proposals for a controlled programme of disposals which he has said would significantly enhance shareholder value.
This change in strategy came after PERSON's chairman PERSON told the meeting it had asked PERSON to come up with a ""full and detailed proposal"" which, if forthcoming, it would ""consider carefully"".
After a vote on postponement, carried by CARDINAL shares in favour versus CARDINAL shares against, PERSON said, ""It's an overwhelming vote in favour of shareholder choice. We are supportive of PERSON in terms of its proposals. We want the board to sit down with them.""
Greycoat, which specialises in GPE property, said DATE that the break-up resolution was not in shareholders' best interests and urged them to reject it.
But news of the PERSON approach surfaced over DATE, adding another dimension to the uncertainty already hanging over the company and according to some analysts, holding down its share price which closed at CARDINAL-1/2p on DATE.
PERSON said DATE that it would de-merge PERSON's largest assets, its WORK_OF_ART and CARDINAL FAC properties, and had earmarked some of its developments for immediate sale to a large property company.
It said it plans to bring the remainder of the enlarged group's assets into an investment, trading and development portfolio and reorganise the board and management structure to reduce costs by MONEY a year.
PERSON told reporters after the meeting that the NORP property company would now be forced to talk to PERSON. ""The (PERSON) board will be forced to sit down and look at the Moorfield proposals,"" he said.
PERSON said he was delighted shareholders had voted to adjourn his original proposal and repeated that his main object was to create shareholder value.
He added the PERSON proposals, which have so far been rejected by PERSON as being too vague, had the backing of holders of PERCENT of ORG shares
PERSON said these holders had already seen PERSON's CARDINAL-page document and expressed their support for it, adding that he was ""supportive"" of both the proposals and the PERSON management.
""We are supportive of PERSON in terms of its proposals and we want it (the board) to sit down with them...We expect PERSON to refine its proposals over DATE,"" he added. ($ = MONEY)","Final approval for ORG recovery plan edged closer DATE as it declared that PERCENT of members had accepted a settlement offer aimed at securing the DATE insurance market's future.
ORG said it had been swamped by GPE investors signing up for its recovery plan after a GPE appeals court overturned a ruling that had threatened the insurance market's survival. By DATE TIME, PERCENT of GPE members had accepted.
""The level of acceptances speaks for itself. Members have made their views toward the reconstruction of ORG abundantly clear,"" ORG Chairman PERSON said in a statement.
Earlier, a ORG spokesman said acceptances from GPE investors in the market, known as ORG, had flooded in TIME.
CARDINAL of the CARDINAL ORG had until TIME held off, with PERCENT accepting by then.
This followed a decision by a federal appeals court in GPE DATE to overturn GPE ORG Judge PERSON's ruling in GPE, GPE, DATE to allow ORG more time to consider the plan.
Payne granted an injunction giving GPE Names more time to consider the plan and ordered ORG to provide further information by DATE. On DATE, the panel of judges in GPE sent the case back to the lower court with orders to dismiss it.
ORG said he acknowledged that many overseas members had deferred their acceptance in the light of the GPE court judgment and the subsequent GPE ruling.
Over DATE, evidence of support for the ORG proposals among its CARDINAL investors worldwide has grown. On DATE TIME, acceptances totalled PERCENT, compared with PERCENT DATE.
DATE's TIME deadline for accepting the MONEY (MONEY) recovery plan, under which ORG proposes that ORG pay to help reinsure MONEY in liabilities into a new company called ORG, was extended to give all a chance to respond.
ORG said DATE TIME that under the circumstances it was ""fair and proper"" to exercise flexibility in pushing back the deadline for acceptances.
ORG said that any formal, longer-term extension would be subject to a decision by its council at a DATE meeting at which it would consider ""the prospect of declaring the settlement offer acceptances unconditional.""
This extension will give the market enough time to collect the convincing majority of acceptances, especially from ORG, which it needs to prove its own solvency.
ORG problems began in DATE when a destructive combination of negligent underwriting, poor investment advice and a sequence of natural disasters conspired to bring about losses of MONEY.
Long-standing Names were for the ORDINAL time in their lives suddenly faced with the prospect of unlimited losses.
The market is due to submit figures to GPE's ORG DATE in an DATE solvency test, and file with ORG and ORG DATE.
Equitas may lift off in DATE if all goes as planned. The recovery plan's success increasingly looks likely, but another challenge by ORG has not been ruled out.
However, GPE legal sources said TIME that while GPE investors could in theory attempt to challenge DATE's order, it would be difficult to do so successfully.
Despite that, CARDINAL ORG, PERSON, who is chief negotiator for a group known as ORG, said he expected GPE Names to appeal the GPE ruling.",1
"NORP sugar and sweeteners group ORG and PERSON is likely to see a sharp drop in DATE profits on DATE, as its GPE sugar unit PERSON suffers a near PERCENT decline in earnings.
""The main swing factor will be PERSON which has been squeezed between high raw material costs and poor high-fructrose corn syrup pricing,"" said PERSON, an analyst at ORG. Analysts forecasts for pretax profits range from CARDINAL to 285 million stg, down from CARDINAL last time. A total dividend for DATE is expected, up MONEY.  
PERSON, which turned in profits of CARDINAL stg in DATE, is expected to contribute CARDINAL this time round.
But analysts expect the downturn at PERSON to be partly offset by an improvement in the company's NORP sugar business in DATE and better returns from its investment in emerging markets.
""The key feature is going to be PERSON and the re-negotiation of contracts although clearly these figures come a little early for the company to give us much indication of that,"" said PERSON, an analyst at ORG.  
PERSON, which produces high fructrose corn syrup used as sweeteners in FAC and ORG drinks, re-negotiates supply contracts with soft drinks firms at the beginning of every calender DATE.
In DATE, at DATE stage, ORGamp; PERSON warned on its results for DATE as a result of steep grain prices. For DATE profits were up PERCENT from DATE at CARDINAL stg before tax.
But chairman Sir PERSON said that profits for DATE were expected to be below the level anticipated at the company's DATE meeting in DATE.  
""Trading conditions for PERSON, the group's NORP subsidiary are difficult, affected by increases in available industry capacity and coinciding with a dramatic increase in the cost of maize,"" said PERSON at DATE stage.
He said PERSON's profits were expected to continue to be affected by the abnormal grain prices and competitive pressures through DATE but that ORGamp; PERSON should get more benefit from other investments, especially in new growth areas.
PERSON has provided PERCENT of group profits.  
In DATE, the company said an explosion at its ORG sugar beet facility in GPE would hit DATE pretax profits by CARDINAL -- CARDINAL would be for the insurance loss and CARDINAL for the disruption to production.
PERSON, a NORP cane refiner, is likely to show an improvement while Tate's ORG in GPE is expected to suffer from a bad sugar beet crop.
Analysts expect PERSON's north NORP business, excluding PERSON, to contribute CARDINAL to group profits.
An improvement is also expected in earnings from ORG's GPE Thames sugar refinery, forecast to chip in QUANTITY.  
Amylum, a GPE based cereal sweetener and starch company majority owned by ORG, is forecast to make CARDINAL.
Other NORP sugar businesses should contribute CARDINAL. In DATE Tate's NORP business made CARDINAL stg in operating profits.
The company's sweeteners and starches busines in the rest of the world, including PERCENT owned ORG in GPE, should add CARDINAL stg to group trading profits up from CARDINAL stg in DATE.  
The group's animal foods and bulk storage business is predicted to contribute CARDINAL, slightly down from CARDINAL in DATE. A ORG poll of CARDINAL brokers produced a consensus estimate for earnings per share of CARDINAL for DATE, rising to CARDINAL DATE.
Since DATE, ORGamp; PERSON's shares have underperformed the stock market by PERCENT but outperformed its peers in the food manufacturing sector by a similar amount.
The shares were up CARDINAL in early trade on DATE at CARDINAL.
-- GPE PRODUCT +44 CARDINAL 7717","ORG on DATE, buoyed by financial sector share gains, continued to rebound from its recent slump, closing higher for the ORDINAL consecutive session.
PERSON, ORG, PERSON and PERSON all gained ground as the ORG index edged up CARDINAL points, or PERCENT, to CARDINAL.
The ORG RPIX index, measuring the CARDINAL continuously- traded equity issues on the bourse, climbed CARDINAL points to CARDINAL.
Overall, CARDINAL shares rose on DATE, while CARDINAL lost and CARDINAL held steady. Total volume was CARDINAL shares on turnover of CARDINAL crowns.
For ORG, which rose CARDINAL crowns to CARDINAL, it was the ORDINAL consecutive PERCENT gain, the maximum allowed by the bourse in a session, after the government said it would be the ORDINAL of the big CARDINAL banks to undergo privatisation.
On DATE, ORG Minister PERSON gave investors the signal they had been looking for when he said that a strong foreign strategic partner would be the most likely beneficiary of any sell off.
Since the announcement, ORG and ORG have been rumoured as the frontrunners in any bid to participate in the selloff. The government holds about a PERCENT stake in ORG.
""If you were to bring in a foreign partner such as the caliber of the CARDINAL banks mentioned, that addresses questions that have been hovering around IPB on its perceived lack of corporate structure and transparency,"" said PERSON of Wood and Company.
The bank has been widely-criticsed for being the least transparent of the CARDINAL major NORP banks in its dealings, especially a recent spending spree that has seen it quietly buy large stakes in several firms.
Several utilities also fared well at the fixing, with PERSON, PERSON, PERSON, PERSON and Elektrarny Opatovice all rising.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"Everything old is new again in the aging gold zone near Timmins in Northern Ontario.
Exploration has exploded in the area, which has been mined since DATE.
While most NORP exploration companies are off making inroads in LOC and LOC, a handful of innovative and optimistic junior companies are staying behind, hoping to strike gold on their home turf.","The director-general of the ORG called on DATE for an increase in the NORP television licence fee to protect what he said was ""the most successful cultural institution in the world"".
Speaking at ORG, PERSON said the fee -- payable by all television set owners -- had fallen in real terms over DATE and described the recent financial history of the ORG as ""miraculous"".
He said an increase was needed to help fund new services as digital technology multiplies the number of channels available.
""The ORG is the most successful cultural institution in the world, CARDINAL of the great inventions of DATE. But it can no longer be taken for granted,"" Birt said.
""If it (the ORG) is to innovate with high-quality services in the new technologies as it has done again and again ... then at some point in the future -- and for the ORDINAL time since DATE -- we shall need a real increase in the licence fee.""
A colour television licence costs MONEY ($MONEY) DATE. Licence income totals MONEY DATE -- PERCENT of ORG income. The money funds the ORG's CARDINAL national radio stations as well as its CARDINAL television channels.
Sources at the ORG said it wanted a modest rise in ""low single (percentage) figures over time"". The ORG will shortly begin talks with the government to review the licence fee -- currently pegged to inflation.
Any price increase would take effect from DATE. A general election is due in GPE by DATE and the government might be reluctant to saddle viewers with a higher licence fee shortly before it went to the polls.
Birt said the ORG was now towards the bottom of the NORP licence fee league table. He added that a top-rate subscription to satellite broadcaster BSkyB, the dominant force in NORP pay television, costs QUANTITY DATE.
The ORG says it has achieved cost savings of MONEY in each of DATE and aims to build on its commercial success as LOC's biggest broadcasting exporter.
But ORG said more licence money was vital.
ORG technology -- which will allow the creation of CARDINAL of new channels and interactive services such as home shopping -- is set to reach GPE DATE.
BSkyB is planning to launch digital satellite services in DATE and a terrestrial version is expected to follow within DATE.
The ORG is planning to offer licence-fee payers supplementary programming and a TIME news service as it moves into the digital era.
""It (digital) will mean upholding our national role -- and opening new doors wherever we can for licence fee payers,"" Birt added.
($MONEY Pound)",0
"Blue chip technology stocks charged ahead DATE in a new buying spree spurred on by optimism about holiday PC sales and DATE book-squaring by money managers, traders and market analysts said.
Market participants said the rally was spurred by positive comments from a ORG analyst about ORG, and waning fears that DATE would prove a failure for consumer personal-computer makers.
The enthusiasm swept up other PC makers such as ORG and spilled over to other top technology names.  
By TIME, ORG had added CARDINAL points on DATE to CARDINAL while ORG gained CARDINAL to CARDINAL.
Leading ORG's most actives was ORG, which swelled CARDINAL to CARDINAL, PERSON, up CARDINAL to CARDINAL and ORG, which gained CARDINAL to CARDINAL.
""It looks like they're going after the group again,"" said CARDINAL trader, pointing in particular to ORG, ORG and ORG.
""They are just buying the techs in a dramatic way again,"" agreed another trader. ""The PC scare isn't what they thought it would be,"" he said.  
""It's a group move, if you look at other names, like ORG up CARDINAL, ORG up CARDINAL, Dell up CARDINAL,"" said PERSON, director of global equity trading at ORGamp; PERSON, listing some of the most active names.
""We're coming to DATE,"" he said, ""and these are big (institutional) holdings.""
""ORG and ORG I think have sold here over DATE, and whatever had to be done has been done,"" he argued, laying the groundwork for institutional buyers to add to their holdings.
""All (these) stocks are in a DATE window-dressing rally,"" said PERSON, chief investment officer at ORG, who concurred that several of these stocks had been oversold in DATE.
""ORG is the one all the money managers want in their portfolios,"" GPE said, referring to the desire to put the best face on their end-of-year report cards by which investors judge the relative performances of funds.
Earlier, ORG PC analyst PERSON upgraded his short-term rating on ORG to buy from hold and retained his long-term buy position on the stock.
-- Wall Street bureau, CARDINAL-859-1736","GPE's usually rubber stamp parliament failed on DATE to pass an anti-corruption bill after the proposed law fell victim to fierce debate over whether it should specifically target government officials.
State media had reported heated discussion at the DATE session of the standing committee of ORG, or parliament, that closed on DATE.
Disputes among GPE's usually tame lawmakers ranged from controversy surrounding the scope of the death penalty as contained in proposed amendments of the criminal law to whether corrupt state managers should be executed.
The draft law on administrative supervision, which would target corruption and had been due to be adopted DATE, was eventually withdrawn from voting, the ORG said.
The law was withdrawn ""because legislators sharply disagreed with the name of the law"", it said, quoting parliament chairman PERSON.
Some lawmakers believed the bill should be named the Law On Administrative Supervision in line with its regulation of the government.
However, they ran into opposition on constitutional grounds from legislators who argued it should be called simply the Law on Supervision, without reference to the administration, ORG said, but did not elaborate.
Qiao suggested the issue be put forward for a vote at the next standing committee session in DATE.
GPE has launched repeated crackdowns on graft, which senior leaders have called a cancer that threatens ORG grip on power, but many NORP say enforcement of anti-corruption measures at senior levels is patchy at best.
Debate had swirled around amendments to combat corruption, including CARDINAL clauses that would specifically define draft and dereliction of duty, while increasing to CARDINAL from CARDINAL the types of officials subject to the law, state media said.
CARDINAL source of contention was the designation of managers of state firms as government employees, who are subject to a maximum penalty of death for corruption, it said.
One body of opinion held that government factory managers be defined as public servants since PERCENT of all official cases of corruption involved state enterprise managers.
Others argued this was unfair since managers of non-state firms faced a maximum of DATE in jail for graft.
All should be equal before the law, the newspaper quoted the criminal law as saying regarding the need to tackle corruption
The failure of the anti-corruption law to pass came as senior leaders considered whether to punish scandal-hit former ORG boss PERSON -- the highest-ranking victim of GPE's anti-corruption campaign -- for dereliction of duty.
Under the law, prosecutors would have the powers to investigate a suspect's bank account and ask the courts to freeze bank accounts of those suspected of graft, bribery and embezzlement.
In DATE, NORP prosecutors had begun action in CARDINAL cases of corruption, bribery and economic crime and had dealt with CARDINAL cases, up year-on-year PERCENT, the media said.
Corruption was virtually wiped out in DATE after the communists took over in DATE but has staged a comeback after economic reforms were introduced DATE.",0
"ORG is expected to curb its power to approve or reject long-distance rates by ending a Depression-era rule requiring telephone carriers to notify the ORG before rate changes.
The new rules, set to be adopted on DATE, are meant to pump more competition into the MONEY long-distance market and trim government red tape for ORG, ORG, ORG and other long-distance carriers, said ORG officials.  
The DATE rule that is headed for the scrap heap has forced long-distance companies to notify the ORG in advance of plans to change rates or offer new services through ""tariff"" filings with the agency.
It was intended originally to let regulators review the changes while giving the public an advance look, although the language contained in the filings is arcane and read by few.
Regulators say the new approach will let companies respond more quickly to competitors' price changes -- without the need to file burdensome paperwork with the ORG.  
They also say it will reduce the opportunity for companies to collude tacitly on long-distance rates.
And carriers will have to notify residential customers directly of a rate change. Currently, they unveil any rate increases through the complex tariff filings.
The new approach represents the ORDINAL major step the ORG has taken under a provision of the new telecommunications law allowing it to shed outdated rules if the public interest is not harmed.
Currently, tariff filings take effect DATE after their submission to the ORG. But it has not always been that way.  
When it was considered a ""dominant"" long-distance carrier, ORG complained that the filings offered competitors an early look at its plans, allowing the others to mimic the move and implement it beforehand.
The top long-distance company had to wait DATE after a tariff filing for a new promotional plan before it could act on the plan. DATE, the ORG ended ORG's dominant carrier status. That also ended the long delays.  
The ORG tried to eliminate long-distance tariff filings for ""non-dominant"" carriers such as ORG and ORG DATE. But a court said the agency lacked the power to do so. The ORG then asked ORG to change the law.
Industry officials have sought -- but apparently without success -- to retain the option of filing tariffs for certain residential telephone plans, saying that would make it easier to let consumers know what their phone rates are.
""We think there ought to be something in place for the mass marketplace,"" said an ORG spokesman.  
He added that tariff filings allow residential customers to know the terms and conditions of their service. And he said they save the company the expense of having to communicate those terms and conditions to individual customers.
But critics complain that such a practice would make it tougher for consumers to know when a rate rise was coming, because it would be buried in the jargon of the tariff filing.
Officials do favor ending tariff filings for big business customers, paperwork that can run CARDINAL of pages. Ending the practice, they say, would give carriers added flexibility to negotiate the best deals with big customers.
Business users agree.
""It allows for individual customers to negotiate the best terms and conditions for them, while preserving the normal customer-supplier confidentiality we see in other contracts,"" said PERSON, director of information systems for ORG, an oil industry trade group.","GPE's decision to ban imports of some GPE chicken meat due to concerns about a fowl plague could hit a multi-million dollar export business, although GPE officials said on DATE their chickens do not have the disease.
""We don't have highly pathogenic avian influenza (GPE) in the GPE,"" a GPE quarantine official told ORG.
""There is no record of it being found in domestic poultry,"" he said. It had been eradicated after an outbreak in DATE.
""It affects the birds but not the meat, the meat does not transmit anything to people.""
GPE's agriculture attache in GPE notified his head office on DATE that GPE had blocked imports of chicken meat from CARDINAL GPE states because of concerns about highly pathogenic avian influenza.
GPE sources in GPE said GPE's ORG) had confirmed the ban by telephone on DATE and was preparing notification which was expected some time DATE.
""We initially heard about a ban on the import of poultry chicks, but no one at ORG has been able to confirm or deny that,"" a senior diplomatic source said.
""Now, if poultry chicks aren't banned for reasons of GPE, why is poultry meat banned? It makes no sense,"" he said.
ORG (ORG) representatives would probably meet ORG officials on DATE in a bid to resolve the issue, an embassy source said.
Asked to confirm reports of the block on chicken imports, a quarantine official in GPE told ORG by telephone: ""It is true."" He declined to give details.
Officials of ORG, Oils and ORG (Ceroils) said they had heard of the ban but also declined to give further information.
ORG officials said they were unaware of the ban.
GPE officials in GPE on DATE said any ban GPE might place on GPE chicken meat imports because of avian influenza was not based on sound scientific evidence.
""It comes down to good science versus bad science,"" a senior official said on condition of anonymity.
Poultry meat was not a likely vehicle for transmission of the virus, he said, and GPE poultry meat exports posed no threat to the international poultry industry.
The ban could have a major impact on GPE poultry exports to GPE. In DATE, QUANTITY worth MONEY was trans-shipped through GPE alone, according to ORG and ORG.
GPE is the ORDINAL largest market for GPE poultry products after GPE, the council's GPE director, PERSON, said.
""It is the only market to take paws,"" she said, referring to chicken feet. ""People say GPE chickens need wheelchairs because all their feet are going to GPE.""
CARDINAL containers a day of chicken feet moved from GPE into GPE, she said. Any hold-ups would cost importers dearly because of the high cost of storage in GPE.
The NORP chicken ban is the latest headache for GPE agriculture officials in GPE who have been dealing with fears of importing potentially tainted products for DATE.
Wheat is a continuing issue, with GPE refusing to import grain from the ORG northwest because it cannot be guaranteed to be free of a fungus called TCK smut.
GPE claims the fungus is harmless, that the ban is not based on good science, that it cuts DATE GPE wheat sales to GPE by QUANTITY and is a non-tariff trade barrier.
GPE, on the other hand, says TCK smut could cut domestic wheat yields if it got into the domestic growing areas.
-- Hong Kong News Room (CARDINAL) 2843-6470",0
"ORG defense and space group President PERSON said he thought the company had a ""better than CARDINAL"" chance of surviving to the next round of the military's Joint Strike Fighter program.
He said in an interview he was ""not quite as bullish"" about the company's chances of surviving into the next round of competition to win a contract to develop a so-called WORK_OF_ART for ORG. (corrects program from ""...develop the next-generation space shuttle launch  vehicle."") 
In the joint strike program, ORG is competing with ORG and ORG to win a contract to build CARDINAL jets in DATE for ORG, ORG, ORG and ORG.
The ORG will eliminate one of the bidding companies DATE in a ""downselect.""
""This is high on our priority, so we put a lot of effort into coming up with what we think is the right solution,"" King said in an interview. 
He said he thought ORG had a good chance because of the high degree of commonality in its design, which should allow it to come up with a lower price for the single modular aircraft with CARDINAL different configurations.
""I think our chances our better than CARDINAL of going to the next phase because I think we've come forward with a very innovative solution,"" he said.  ""The customer is almost obligated to give us an opportunity to demonstrate that we can in fact deliver what we've committed to."" 
But he said he was concerned the ORG might favor the other bidders, particularly ORG, on the theory that a broad national ""industrial base"" needs to be maintained.
He said such an argument would make ""absolutely no sense"" because GPE already has excess capacity to build commercial and military aircraft.
If ORG were eliminated the company would be ""available"" to partner with the surviving contractors, King said.
On the space shuttle program, ORG is expected to select CARDINAL finalists in DATE from among ORG, ORG, PERSON and ORG
""Even though I think we have the best solution, I think the competition is extremely tough, with ORG and ORG having present launch systems that they can evolve from,"" King said.
				   -- GPE bureau CARDINAL-386-4848","ORG chief executive officer PERSON did not take long to leave his mark on the company.
DATE after he was elected to become chairman of ORG's board of directors DATE, Condit began the final round of on-again, off-again negotiations that resulted in a MONEY deal to acquire ORG
Condit, DATE, an engineer who began his career with ORG in DATE, will serve as chairman and chief executive of the merged company under the agreement, which requires approval from shareholders and federal regulators.
Condit, credited with spearheading the programme to design and build ORG's new CARDINAL twin-engine jet, was promoted to chief executive in DATE after DATE as president under current Chairman PERSON, DATE.
Condit's promotion to chairman is not even effective until DATE, after PERSON's retirement.
While PERSON is a lawyer by training with a somewhat formal demeanor, Condit is known for his habit of changing clothes from a business suit to sweater and slacks for his frequent meetings with workers at all levels of the company.
""I'm real impressed with PERSON,"" said PERSON, a longtime ORG analyst at ORG. ""PERSON's strength is he's a real communicator.""
Condit shows an almost boyish enthusiasm for his work, exclaiming ""Wow!"" to sum up major business triumphs and declaring he is ""overwhelmed"" by his latest promotion -- no matter that it had been long expected.
Behind that enthusiasm is a drive to cut costs at a company once derided as LAW and create a military and commercial aerospace giant better able to ride out the deep industry cycles that have whipsawed ORG in the past.
""We're seeing ORG evolve from kind of a stodgy company to being very aggressive, nimble,"" ORG said.
Over DATE, as ORG went through DATE of a long industry downturn, Condit was busy putting into practice the philosophy of ""working together,"" which became a mantra for the CARDINAL programme.
At ORG the phrase means that engineers, contractors and factory workers, once happy to throw problems ""over the wall"" to the next division, work more closely than before to speed changes and improve processes.
The new philosophy and an overhaul of the company's computer equipment have allowed ORG to cut the time between an airline order and delivery by PERCENT.
The changes have hardly been accomplished easily. In addition to the layoffs that shrank ORG's workforce by CARDINAL over DATE, the company endured a bitter DATE strike DATE by its CARDINAL unionized NORP.
Condit acknowledged DATE that the company has ""a long way to go"" to repair relations with its workers.
Condit got his bachelor's degree in mechanical engineering from ORG and has master's degrees in engineering and management from ORG.",1
"ORG plans to float on the stock market were under threat on DATE after ORG launched a surprise bid for the mutually-owned life assurance company.
The offer from the retail banking group values ScotAm at QUANTITY MONEY (MONEY) and includes an immediate minimum payout of MONEY to policyholders in cash or PERSON shares.
ScotAm was quick to denounce the bid as both ""vague"" and ""inadequate"" and said it intended to press ahead with its CARDINAL stage plans to drop its mutual status and float the group over DATE.
Those proposals, due to be detailed in a circular within DATE, have themselves been criticised for not being generous enough to policyholders while offering the prospect of a windfall to management if growth targets are met.
Under the plans the CARDINAL policyholders will receive QUANTITY QUANTITY while CARDINAL ScotAm directors stand to share MONEY.
The offer from the GPE raises the possibility of a bidding war for ScotAm, which has made no secret of past approaches.
ScotAm chairman PERSON said that indications of interest from other parties had already been received.
""As you would expect there have been quite a number of telephone calls (from other interested parties) but there have been no firm approaches,"" PERSON told ORG.
""I suspect some of them are competitors of ORG"".
PERSON said PERSON offer had not been dismissed out of hand and that the interests of policyholders were uppermost in the management's mind.
""If we have on the table a firm offer which is quite clearly likely to be more beneficial to policyholders then we have to consider it. If we decide that is the case then we will put it to policyholders,"" PERSON said.
""At this stage the bid doesn't meet our requirements. It's vague and on the basis of what it (Abbey National) has said it appears to be inadequate.""
Analysts agreed the CARDINAL businesses would fit well together and that the GPE, with its good cash generation ability, would have no problem financing the deal.
BZW analyst PERSON upgraded its recommendation on ORG shares on the potential offered by the deal, which he said would improve the quality of the group's earnings and return on equity.
By TIME the shares were trading MONEY higher on DATE at MONEY.
Despite the rejection by ORG, the GPE, GPE's ORDINAL largest bank, said it was still hoping to persuade ScotAm, which has MONEY under management, to accept the offer and put it to its policyholders.
""We believe this offer will by very attractive to ORG policyholders, providing them with immediate value and the long-term security of being part of CARDINAL of the GPE's strongest financial groups,"" GPE chief executive PERSON said in a statement.
No discussions have been held between the CARDINAL groups and ScotAm said it had no intention of talking to the PERSON ahead of the release of details on its demutualisation. ($MONEY Pound)","GPE sent a senior official to attend a reception at the GPE embassy on DATE despite a diplomatic rift over a visit to GPE by GPE's vice president PERSON.
But an apparent guest list mix-up left both sides unsure over who would represent GPE at the reception, held to mark GPE's independence day.
GPE's ambassador thought NORP Vice-Foreign Minister PERSON would attend, but the NORP thought it was Vice-Foreign Minister PERSON.
Zhang, however, fell ill and Vice-Foreign Minister PERSON showed up instead.
The confusion followed GPE Vice President PERSON DATE trip DATE to GPE which infuriated GPE.
""It was a misunderstanding...a mix-up,"" NORP Minister-Counsellor PERSON told ORG, referring to the guest list.
Asked if he saw it as an intentional slap on the wrist, PERSON shook his head and said: ""No, no no.""
A NORP Foreign Ministry protocol officer said ORG, the vice-minister that the NORP were expecting, was abroad.
Ukrainian diplomats noted that PERSON, the vice-minister who attended, was filling in for GPE as the acting ORDINAL vice-minister and was actually higher in rank than the person who fell ill.
GPE's Ambassador PERSON emerged from TIME chat with Vice-Minister PERSON, and said the vice-minister told him that GPE attached ""great attention to bilateral relations"" and ""hoped to continue to develop"" ties.
Plyushko said the vice-minister did not raise the issue of PERSON's DATE Kiev visit.
""All NORP guests...invited came,"" Plyushko said. ""This is evidence...(of) their attitude towards our relations. I'm optimistic.""
The atmosphere was less pleasant on DATE when ORG summoned ORG to protest against PERSON's trip.
GPE regards GPE as a rebel province with no right to conduct foreign relations on its own, and has sought to push it into diplomatic isolation since a civil war separated them in DATE.
The former NORP republic of GPE recognises GPE but not GPE.
In apparent retaliation against PERSON's visit, NORP State PERSON, a member of the powerful ORG of the ruling ORG, has postponed a visit to GPE.
In GPE, GPE Foreign Minister PERSON took a shot at GPE on DATE, saying GPE had over-reacted to PERSON's visit and calling GPE's protest ""out of proportion"".",0
"GPE chief executive designate PERSON, fresh from an overwhelming leadership victory, launched a charm offensive on DATE aimed at winning public confidence in a smooth transition to GPE.
At a meeting in this NORP frontier city, the DATE GPE-born former shipping magnate was also endorsed as GPE future leader by the CARDINAL-member GPE-controlled ORG, which is crafting the territory's future political institutions.
A beaming, animated ORG appeared at a GPE news conference, vowing to make himself regularly available to the press, and promising to aim for friendly cooperative relations with GPE ORG and the outgoing colonial administration.
""Have you eaten?"" was his ORDINAL remark as he entered a gathering of CARDINAL GPE journalists. He fielded his questions skillfully, shifting effortlessly between CARDINAL languages -- LANGUAGE, LANGUAGE and LANGUAGE.
Tung quipped and charmed with great self-confidence and a charismatic style that would be the envy of many NORP leaders in GPE, not known for their skillful handling of the media.
He declared he would go on the offensive to persuade GPE CARDINAL people to trust a controversial CARDINAL-member provisional legislature which GPE plans to install in place of the present elected ORG (Legco) when GPE hands back the colony to GPE DATE.
""I think you'll find the provisional legislature will have good credibility,"" the businessman turned politician said.
""The acceptability of the provisional legislature is gaining ground every day. I'm confident we'll find CARDINAL people with credibility among the people of GPE.""
DATE's ORG meeting in the boomtown of GPE was working on a package of procedures for selecting the legislature on DATE, the next milestone in GPE march to NORP rule.
GPE ORG has condemned the move as an attempt to snuff out the territory's embryonic democracy and vowed to challenge the legislature's legality in the courts, forcing GPE to consider locating the body on the mainland rather than in GPE.
But Tung said he would also like to charm the NORP by sitting down with them and ""peacefully"" discussing the transition problems.
Tung said he hoped to cooperate with departing governor PERSON and the NORP colonial administration. He recognised there were many difficulties but said: ""Let's do what is best for GPE.""
He also said that GPE would continue its gradual shift towards greater democracy but only at the slower pace laid down in the territory's DATE constitution, LAW.
""We will of course move forward on the course of democracy in accordance with LAW,"" he said. ""The process has already begun. It's quite clearly defined in LAW.""
Tung said he had no news yet on who he planned to bring into his kitchen cabinet, ORG, or whether GPE current chief civil servant PERSON would stay on.
""I hope she will stay, I hope she will be my deputy,"" he said, repeating his desire for a through-train civil service and smooth transition.
Tung also said he would go to GPE for investiture as the Chief Executive-designate of GPE but no date had been set.","President PERSON surgery on DATE might be a heart stopper for some volatile commodities and currency markets, but recent history proves NORP oil and gas exports are unfazed by ORG dramas.
Traders have seen tanks fire at GPE's ORG, cloak-and-dagger power struggles and war in oil-rich GPE -- and each time, they say, NORP supplies of oil and natural gas to LOC and the LOC have held steady.
GPE is the world's ORDINAL-largest crude oil producer and single biggest natural gas producer; its energy heats and powers much of LOC and is a multi-billion dollar cash cow for GPE no matter who sits in the ORG hot seat.
This time, with PERSON under the knife TIME for a gruelling, TIME heart bypass, should be no different.
""Politics don't affect us,"" said trader PERSON of GPE, CARDINAL of GPE's leading oil exporters.
""We are more interested in things like government decrees saying 'export tariff introduced' or 'export tariff scrapped'.
PERSON's surgery began against domestic and international worries that if the operation fails, GPE could plunge into political uncertainty that could hit oil and gas exports.
With CARDINAL of GPE's QUANTITY per day output exported outside the former GPE, and with NORP natural gas keeping CARDINAL of LOC warm, it is easy to see why traders worry about supply.
But when NORP oil exports do fluctuate, it is on less dramatic events, like storms at LOC export outlet of LOC, CARDINAL-off government supply programmes to former NORP allies and which oil company is flavour of DATE with export officials.
Gas exports can fluctuate on occasional explosions in GPE's gas pipeline system, the largest in the world.
Analysts said that with domestic demand flat while the NORP economy recovers, exports will be stable near-term.
Industry sources said there is no danger of conservative officials playing with the taps while PERSON was incapacitated, but they said some risk-averse NORP buyers could insist on contract terms less beneficial to NORP exporters.
""Our partners could get worried and demand terms not as attractive to us,"" said a trade financer at ORG, or ORG, another leading oil exporter.
Others said money, not politics, motivated exports -- and with domestic oil prices below world levels, it is not hard to make money exporting the stuff.
""We like good prices on world markets,"" ORG ORG said.
Political tensions in other major oil exporting countries often cause benchmark GPE and GPE oil prices to leap over worries about supply disruptions.
Nervous ORG traders swung spot prices in GPE when PERSON sacked maverick security tsar General PERSON DATE.
But GPE oil traders and analysts said that everyone should just calm down.
""This stuff (oil) is scheduled for DATE in advance and it's technically very difficult to fiddle with the taps,"" said energy analyst PERSON of ORG consultancy.
Even the conservatives who covet PERSON's ORG seat remember the good old NORP oil-boom days, when exports -- not disruptions to them -- were the key to power and wealth and enticed GPE to crank up output and become the world's largest oil producer.",0
"Top GPE film stars, including screen idols PERSON and PERSON, have been placed on a blacklist of CARDINAL people barred from visiting the restive region of GPE, NORP officials said on DATE.
News that some of GPE's biggest box office draws were on a blacklist comes DATE after GPE clashed with GPE entertainment giant ORG over its film on the life of GPE's exiled god-king, the Dalai Lama.
PERSON, PERSON and his wife PERSON as well as directors PERSON and PERSON were among a group of movie personalities on a blacklist held by ORG, a tourist official said by telephone from the regional capital, GPE.
""DATE, we were verbally informed by the GPE state security office that those foreigners should not be given an entry permit if they applied to visit GPE,"" he said.
""At DATE or in DATE, we received the formal documents,"" he said, when asked if the GPE stars were barred from the NORP region that has been rocked by sporadic anti-Chinese unrest in DATE.
""They are banned from coming here for any reason,"" the official said, adding that none of those named on the list had yet applied to visit.
PERSON stars as an escaped NORP prisoner of war, who fled GPE in EVENT and found refuge in GPE where he befriended the young PERSON, in the film ""EVENT in GPE"" that is directed by GPE. GPE has not formally objected to the film.
However, it has apparently tried to halt production by GPE-based ORG of the film ""PERSON"" that tells of the Dalai Lama's early life and is directed by NORP. PERSON is a scriptwriter for the movie.
Disney has said it will go ahead with the release of ""PERSON"" despite GPE's objections. GPE has denied putting pressure on ORG to withdraw backing for the film.
GPE has been reported to have warned ORG DATE that its ambitious business plans in GPE were at risk if it went ahead with the release of the movie.
A ORG spokesman said ORG would be wrong to sing the praises of the exiled spiritual leader.
The Dalai Lama fled GPE to GPE in DATE after an abortive uprising against NORP rule and has since waged a non-violent campaign for autonomy for his homeland.
However, the blacklist did not include actor PERSON, who has long backed the NORP spiritual movement and is an active supporter of the Dalai Lama, the tourism official said.
Gere was among a group of movie luminaries who DATE wrote to GPE's ambassador in GPE protesting against what they called GPE's ""attempt to impose worldwide censorship"".
Officials had begun to compile a blacklist of foreigners barred from visiting the restive area in DATE, and the list had now reached CARDINAL names, he said.
All foreign visitors to GPE are required ORDINAL to obtain an entry permit issued by local authorities who are anxious to keep out NORP who may support the underground pro-independence movement spearheaded by the region's monks.","A thankful PERSON, a former aide of PERSON head PERSON, walked free from court on DATE after CARDINAL judges allowed her appeal against a DATE sentence for handling stolen money.
Forsyth, DATE, who is also appealing against the money-laundering conviction itself, described her DATE in prison as an ""experience"".
""I would just like to thank the court for its understanding and consideration,"" PERSON told reporters as she was freed from the cells of GPE's ORG.
PERSON, who was chairman of ORG, a firm set up by NORP to deal with his wealthy family interests before his WORK_OF_ART empire collapsed in DATE under a mountain of debt, said she could not comment further on the appeal as it was still continuing.
Earlier, the appeal judges surprised the court by making it clear at once that GPE would not be returning to spend TIME at GPE prison.
""We have formed a view that this sentence cannot stand,"" Lord Justice PERSON said at the outset of the appeal hearing, adding that the sentence was so disproportionate that, ""taking into account the time she has already served...she should not serve any longer.""
PERSON, hearing the appeal with CARDINAL other judges, then moved on to consider PERSON's appeal against her conviction on CARDINAL counts of dishonestly handling MONEY ($MONEY) of stolen funds.
PERSON's lawyer, PERSON, later made a bail application so that PERSON could be freed pending the outcome of the rest of the appeal.
At the end of the court session, PERSON told reporters she was heading for her mother's home.
""I'm looking forward to going home...and it won't be an iron bed with a thin mattress,"" she said, adding that her son was arrving for a family reunion.
She said of her time in prison, ""I learnt an awful lot, it was an education process."" She took up art in prison and was a library orderly.
Asked if she bore any grudges against the legal system, she said: ""There's a lot wrong with the system. The prison officers work very hard to do a difficult job under difficult circumstances.""
PERSON has been in prison since DATE when ORG Sir PERSON surprised those following the case with the severity of his sentence.
During her DATE trial, the jury accepted that PERSON had helped to launder money that had been stolen from ORG by GPE.
PERSON still faces charges connected to PERSON but in DATE he fled to northern Cyprus, a territory not recognised by the NORP government, skipping MONEY (MONEY) bail.",0
"GPE's restive GPE region appeared certain on DATE to fall under the shadow of a renewed campaign of intimidation after a music student was jailed for DATE for spying and a bomb rocked the capital.
""The bomb attack, especially such a big explosion, is a real slap in the face,"" said CARDINAL GPE observer who declined to be identified. ""The authorities really don't know any other way but the knee-jerk crackdown response.""
A senior local government leader signalled that a new round of intimidation in the deeply NORP Himalayan region was essential to tackle such challenges to GPE's sovereignty.
""We should wage a tit-for-tat struggle against the Dalai (Lama) clique's sabotage,"" Gyamco, vice chairman of the regional government, was quoted by local radio as telling a DATE meeting of party government officials in GPE after the DATE blast.
""We should, once again, stage another campaign across GPE to thoroughly expose and criticise the Dalai clique, heighten our alertness and strengthen preventive measures so as to keep the situation stable,"" the radio quoted him as saying.
The explosion was certain to trigger further official rhetoric against the Dalai Lama, GPE's exiled god-king, whom GPE accuses of fomenting NORP unrest in the strategic mountainous region that borders GPE, analysts said.
The Dalai Lama, who won WORK_OF_ART in DATE for his non-violent campaign to win autonomy for GPE, says he wants self-government and freedom of worship in the region.
He fled GPE in DATE after an abortive uprising against GPE rule.
Police had set up new checkpoints on the road west from GPE, visited hotels to question NORP guests, particularly exiles from GPE, and begun house-to-house questioning of young NORP men, the GPE-based ORG said.
Diplomats said the extraordinarily harsh prison sentence meted out to music scholar PERSON underlined the determination of authorities in the region to stamp out even the smallest activity that lacked an official sanction.
PERSON, DATE, was jailed DATE by a court in GPE's ORDINAL city, ORG, for DATE for spying, in one of the harshest sentences ever meted out in the region.
The student, a former Fulbright scholar in GPE, disappeared into GPE's security limbo in DATE while travelling in GPE to produce an amateur documentary film about traditional music and dance.
The young scholar confessed to having been sent to GPE by ""the Dalai (Lama) clique"" on behalf of an unnamed foreign country to conduct espionage, local radio said in a thinly veiled reference to GPE.
GPE voiced concern at the sentence, and said it knew nothing of his activities other than making a documentary.
""It appears to mean the end of any sense that GPE is susceptible to the international community on human rights issues,"" PERSON of ORG said after hearing of the sentence.
""They now feel confident to use counterespionage laws against political offenders,"" he said late on DATE.
But with the largest bomb explosion yet reported in GPE rocking PERSON before dawn on DATE, a renewed crackdown on NORP unrest appeared inevitable.
CARDINAL NORP government official reached by telephone in GPE on DATE said he could not comment on the bomb blast because he was too busy conducting a rectification and discipline drive in GPE's temples and monasteries.
The bomb exploded outside the main city government office in GPE, shattering windows in a QUANTITY (yard) radius and prompting officials to condemn the blast as ""an appalling act of terrorism"". They said no one was wounded in the explosion.
""The act of terrorism...fully demonstrates that the Dalai (Lama) clique has cast off its previously so-called peaceful disguise to openly oppose the people of GPE and has reached a point when it puts up a last-ditch struggle,"" local radio said.","GPE, wary about upsetting its future GPE masters when dissenters use it as an escape route, kept silent on DATE about NORP dissident PERSON following reports he had fled to the NORP colony.
Human rights activists in GPE said ORG, DATE, fled here from his home in GPE's neighbouring GPE province over DATE, DATE after the communist authorities in GPE bundled a colleague into a labour camp.
He was expected to leave GPE soon, they said, possibly by TIME, and probably for GPE.
ORG declined to confirm or deny that ORG had asked for asylum. ""We don't comment on asylum cases,"" consulate spokesman PERSON said.
ORG would be the ORDINAL NORP dissident known to have fled to GPE via GPE DATE. PERSON fled DATE after DATE of police harassment following a DATE prison stint for helping to lead the DATE student protest movement.
""According to our information ORG is safe at the moment,"" PERSON, Director of Human Rights Watch Asia, told ORG.
""I think it's likely he'll probably be going on somewhere else fairly soon,"" PERSON said.
Munro said he was unable to say where PERSON was heading, but other human rights sources in GPE said he was seeking refuge in GPE.
GPE has been generous in granting asylum to GPE's political critics since a military crackdown against the student-led democracy movement in FAC in DATE.
Scores, perhaps CARDINAL, of NORP dissenters have fled to the West since then through GPE, local activists say.
""I assume he was about to be arrested by the NORP authorities. I can't think what else would have prompted such a rapid departure,"" PERSON said, attributing ORG's move to the DATE sentence passed on dissident PERSON DATE.
PERSON and PERSON sparked reprisals against remaining dissidents DATE when they wrote a letter demanding the impeachment of President PERSON for violating the constitution by placing the army under ORG, rather than state, control.
Human rights sources said it was unlikely ORG would speak publicly in GPE but that he would explain himself when he reached his destination.
As GPE prepares to revert to NORP sovereignty DATE, issues of human rights, and especially help for mainland dissidents, have become acutely sensitive.
""The GPE government asks such people to keep quiet while they are here as the price for facilitating their smooth exit from the territory,"" CARDINAL human rights source said. ""And the NORP go along with that quiet, too,"" he said.
Munro saw the latest developments in GPE as a blow.
""It's extremely discouraging and quite deplorable the way the (NORP) government has intensified its crackdown on the few remaining dissidents in GPE in DATE,"" said PRODUCT.
He said the dissident movement in GPE had effectively been crushed, with all prominent dissidents either in jail or forced into exile.
""The saddest thing about it is that ORG appears to have concluded there's no way he could continue to struggle for change from within the country,"" PERSON said.
ORG's activism dates from DATE when he co-authored an attack in GPE on the radical DATE Cultural Revolution.
He took part in the DATE Democracy Wall movement in GPE and produced his own dissident newsletters. He was twice imprisoned and spent DATE in jail and labour camps.
He was released on parole in DATE, and before he fled he had been under constant police surveillance.",0
"GPE's ORG will rent the former headquarters of the ORGamp; ORG, the most impressive building on the city's waterfront LOC, an official said on DATE.
The official said a signing ceremony would be held on DATE in the grand main hall of the building, opened in DATE as a symbol of the financial might of GPE.
""The building will be leased to ORG,"" said the official with the GPE city government office set up to find new tenants for the old banks and trading houses along the LOC.
ORG is a state-owned NORP bank based in GPE, across LOC from the LOC. It is majority owned by the bank building's landlord -- the GPE city government.
An official with the GPE bank said they had agreed to a lease of DATE duration. But he declined to give details of the lease terms for the building, which has a total floorspace of QUANTITY.
The general manager of ORG, PERSON, said DATE that he believed the property was worth MONEY per square metre.
A real estate analyst said he felt it was unlikely a NORP bank, particularly CARDINAL closely linked to the GPE city government, would pay anything close to that figure.
Another businessman said he understood the new tenant would be allowed to sub-let space in the building to other companies.
The lease announcement marks the failure of the city authorities to find a foreign bank that would be willing to lease the most prestigious building in GPE.
The building was the main office of the ORGamp; ORG until the NORP takeover in DATE and then served as the GPE headquarters of ORG until DATE when the city officials moved into a new building.
Since then, the building, with its huge main banking hall featuring magnificent marble pillars and curved glass roof, has been empty.
ORG had DATE of discussions with GPE city officials on terms for resuming control of their former headquarters but finally announced that they had decided not to proceed with the proposal.
PERSON said ORG had wanted to demolish several buildings behind the main structure and erect a modern office tower.
But he said this proposal would have had an impact on the wider development plans for the area which have not yet been fixed and are unlikely to be finalised for DATE or CARDINAL.","ORG (ORG) is expanding its new express cargo service called ""WORK_OF_ART"" to meet rising demand for rapid deliveries throughout LOC, a ORG spokesman told ORG.
The recently introduced system guarantees delivery for shippers facing urgent deadlines on high volume cargo routes and also offers late acceptance at the departure airport and early delivery, he added in a statement.
Next on the J Speed network is a proposed service from GPE to GPE with plans for a gradual expansion over ORG's entire international network, ORG says.
PERSON, ORG's assistant vice president, international sales and marketing department for freight and mail said he had high hopes for the new service which aims to boost high-yield cargo sales on key NORP routes.
""There is great potential on certain routes and we're looking closely at future expansion in the near future,"" he told ORG.
The busy GPE GPE - Manila sector was chosen for the J Speed launch. With average annual growth in the GPE-GPE market over DATE of MONEY, ORG said there is an increasing need for an express service.
The flag carrier said there is usually a TIME deadline before departure from GPE while some regular cargo has to be accepted DATE.
J Speed cargo is accepted TIME before take off and, because the air waybill is faxed to GPE, the cargo is cleared through customs before the flight arrives, the airline says.
ORG said customers are prepared to pay a premium price.
""Yes, there is clear demand for this service on busy routes - from GPE to GPE and from GPE and GPE to GPE. Shippers are prepared extra for the ""on board"" guarantee. The rates vary in each market,"" ORG said.
The service has now been extended from GPE and GPE to GPE. ORG also said it plans a return service soon from GPE to GPE, GPE and GPE and is also studying a service to GPE.
ORG insists PERSON is a response to customer demand and not a competitive response to aggressive marketing by GPE carriers.
""ORG and ORG have many cargo products and services including door to door small package operations. J Speed is not such a small package service. It is an airport to airport guaranteed on board service featuring the latest acceptance of shipments at airport of departure with rapid clearance and delivery to consignees' agents at airport of arrival,"" ORG said.
Typical shipments include high technology components but ORG says some cargoes are ineligible - valuables and fresh produce cannot use J Speed. --Air Cargo PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017",0
"ORG said DATE that on DATE it will launch its Internet-based version of the Prodigy online service, called Prodigy Internet, with CARDINAL pricing models, including a flat-rate plan of $MONEY a month for unlimited service.
The company said its introduction of Prodigy Internet makes it the ORDINAL of the original CARDINAL commercial online service companies to offer its rebuilt service, embracing the open technological and content standards of the Internet, the global computer network.
Prodigy also said its Internet focus will form the basis of its international expansion plans, and that it will offer a LANGUAGE-language version of Prodigy Internet in GPE DATE.
Sources close to FAC, N.Y.-based company said the online service plans to spend MONEY in DATE to market the new service, through advertising in newspapers, magazines, trade journals and radio, but for now it has no plans for television, because it feels it has an established brand name.
Prodigy Internet is targeted at EVENT PERCENT of NORP homes that have yet to sign up for an online or Internet service provider.
""The focus of the new offering is certainly not focused at our existing subscriber base,"" company President PERSON, said in a telephone interview. ""It's focused at the very broad market out there who are not current users or who are users of bare-bones ISPs (Internet service providers), who are looking for more for their money.""
Prodigy Internet is designed to overcome current limitations in navigating the Internet while also addressing the fears and anxieties that many Internet novices experience.
Prodigy Internet would offer CARDINAL pricing schemes -- a low-cost, entry-level plan for low-volume users and a flat-rate plan for Internet enthusiasts.
The company said its basic plan costs $MONEY a month for TIME usage of both regular PERSON and Internet content, with additional hours at $MONEY each.
The other plan costs $MONEY a month and provides unlimited access to PERSON, PERSON Internet and add-on features not available elsewhere, the company said .
Prodigy will still offer its current proprietary online service, which it is calling PERSON, but it will offer incentives for its current members to migrate to Prodigy Internet, such as DATE free, with TIME of usage.
""We expect that it's going to be a long, protracted service,"" PERSON said. ""I wouldn't be surprised if we are still offering PERSON DATE.""
Prodigy will be the ORDINAL to deliver an Internet-based service of the CARDINAL major online service providers.
CARDINAL rival, ORG of GPE, GPE, has announced plans to rebuild its service around Internet protocols and standards, but it has not yet begun offering its Internet-based service.
The leading online service provider, ORG, says it brings more users to the Internet via its proprietary service, but it does not have any immediate plans to move its service to the Internet.
And indeed, ORG and other industry pundits, some of whom have predicted the demise of online services because of the growth of the Internet, are seeeing a blurring of CARDINAL between online services and the Net.
ORG says it is the Internet and a whole lot more.
DATE, the ORDINAL major entrant in online services, ORG, rolled out a hybrid Internet online service as it relaunched ORG.
Since its DATE rollout, ORG has become the ORDINAL-largest online service, as PERSON membership has declined. PERSON says it currently has CARDINAL households, or CARDINAL total members. But some analysts dispute these figures, saying it has fewer members.
Prodigy also announced a licensing deal with privately held ORG to provide Real PERSON technology to be integrated with Prodigy Internet. Real Audio software enables users to listen to music and other audio material on the Net.
Prodigy also said that its LOC Online unit is now providing Internet access in GPE as well as in GPE.
Prodigy said its Internet service is designed to work with CARDINAL leading Web browsers, ORG Internet Explorer and ORG ORG, but Internet ORG is its preferred browser through a cross-distribution pact announced DATE.
The online service, formerly a joint venture owned by ORG and ORG, is now owned by a group of private investors, including ORG, a leading NORP industrial company.
In DATE, the privately held investor group, called ORG, merged with PERSON. The group's founders, PERSON and PERSON, are now at the helm of PERSON. PERSON is chairman of ORG","LOC oldest and largest guerrilla army on DATE hailed a NORP rebel group's storming of the NORP ambassador's residence in GPE as a ""spectacular and well-planned"" attack.
PERSON, the international spokesman, based in GPE, of ORG (FARC), defended the actions of GPE's ORG (MRTA), which launched the raid on DATE TIME.
He said armed struggle was often the only way to break the bonds of poverty imposed by an oligarchic system.
The NORP authorities say the formerly NORP FARC numbers CARDINAL fighters. Independent political analysts say it has CARDINAL. The NORP-inspired MRTA is thought to have no more than CARDINAL insurgents.
""The MRTA attack was spectacular and well-planned, which suggests it does have popular support. The MRTA, like all peoples of the world, has every right to fight by all means for basic rights,"" ORG told ORG in a phone interview from GPE.
""People cannot be driven into extreme poverty without putting up a fight. They must defend themselves from the aggression of neoliberalism. The oligarchy is not simply going to hand over those rights,"" he added.
Members of the MRTA travelled to GPE in DATE to fight in the so-called ORG, which also consisted of GPE's leftist PRODUCT rebel group and GPE's ORG! The battalion launched a failed attempt to create rebel liberated zones in GPE, starting with the southwestern city of GPE. The FARC never joined the battalion because of military and political differences.
The FARC was set up in DATE by NORP who had fought with self-defence forces set up by ORG during DATE of virtual civil war that started in DATE. The government now accuses it of living off a vast fortune gleaned from kidnapping, extortion and drug trafficking.
It launched CARDINAL of its bloodiest offensives in DATE, when it killed CARDINAL soldiers and captured CARDINAL in an attack on a jungle base in southern GPE. It still has not released those captives.",0
"CARDINAL leading international satellite-television groups said on DATE they will overcome regulatory hurdles and enter GPE, a country already heavily penetrated by pay-television and whose satellite-TV rights are held by a smaller rival.
""We intend to be there; it's key to our strategy,"" said PERSON, a vice president of ORG, at a NORP investors conference sponsored by ORG.  
Kagan analyst PERSON said ORG, a smaller direct-to-home (ORG) service owned in part by NORP investors and ORG of GPE, already sells satellite-TV services in GPE and holds exclusive satellite-TV rights for the country.
""Both will have to deal with ORG,"" Urquijo said, referring to LOC and ORG.  
Galaxy, owned by ORG of GPE, ORG of GPE, ORG and TVA Abril of GPE, and ORG have satellite-TV services in other parts of LOC and plan to expand.  ORG is owned by multi-national ORG, ORG of GPE, GPE's ORG and TV Globo of GPE.
PERSON, vice president of ORG, said he expected his company would eventually enter GPE.  
""We recognize that there's a regulatory environment which does not encourage ORG,"" ORG said. ""We are lobbying the (NORP) government.""  Neither executive gave a target date for entering GPE, and ORG chief executive ORG declined to answer when asked if he expected ORG rivals to appear in GPE.
Nahuelsat already sells a stripped-down, relatively low-cost ORG service in rural areas of GPE outside GPE, a metropolitan area with CARDINAL of the country's pay-television subscribers and served by such cable-television giants as ORG.  
Nahuelsat tailors its services to national and regional tastes, Schober said at the GPE conference.
Urquijo said business fundamentals in the country are also daunting for the CARDINAL big ORG groups, given that PERCENT, or CARDINAL, of GPE's television homes already subscribe to pay television.  ORG itself is primarily targeting NORP regions without cable or microwave television services.
""I'm not sure there's room for CARDINAL competitors,"" Urquijo said.
By contrast, other parts of LOC are much more open to ORG.   PERCENT of LOC CARDINAL
million television homes now take any type of pay television, a much smaller share than in western LOC or GPE, according to the PERSON organization.
Satellite-television in GPE, the most heavily penetrated pay-television market in the world, with CARDINAL of homes subscribing to cable, has been a huge success in DATE.  CARDINAL of subscribers in both cities and areas without cable have paid $MONEY or more for receivers during DATE.
-- CARDINAL-859-1713","GPE and GPE moved closer on DATE to removing some obstacles to GPE smooth transfer to NORP sovereignty DATE, but fresh controversies raised new potential hurdles.
Agreements took shape on issues of handover ceremonies and budgets but quarrels brewed over GPE's moves to appoint new political leaders for GPE.
GPE government radio quoted diplomats saying GPE and GPE were closing in on an agreement on a ceremony to mark GPE handover to GPE DATE and that the deal might be announced DATE.
The sources signalled progress in informal talks and that a basic accord could be forged before foreign ministers of the CARDINAL nations meet at ORG in GPE DATE, the government-run radio said.
Differences over handover ceremonies have posed a stumbling block in negotiations on the sovereignty transfer, especially the question of what role Governor PERSON will play.
At the same time concrete progress was announced in talks on GPE next budget, which will straddle the handover date.
NORP and NORP negotiators agreed on ways to allocate resources for the CARDINAL budget, NORP senior official PERSON told reporters after the latest talks.
PERSON announced agreement on spending guidelines, maximum spending limits and procedures for dealing with new requests for money from the budget. ORG ORG Secretary PERSON was upbeat about the breakthrough.
""We have in DATE had very positive pragmatic discussions on the preparation of the DATE Budget,"" he said.
""We have for all practical purposes completed the preparatory stage of the resource allocation exercise,"" he said.
""Our next step will be to consider the bids for new resources from branches and departments.""
But prospects of a smooth handover on the political front appear less bright. A GPE official was quoted as saying a list of names of people being nominated by the public to sit on a caucus that will pick the ORDINAL post-colonial legislature and governor, the chief executive, would not be made public.
The official was quoted by ORG as saying some nominees might not want their names to be publicised and that only the nominees would have the right to see the list.
""This whole fiasco is too much. The whole thing is such a sham,"" pro-democracy legislator Emily PERSON told ORG.
""Perhaps they feel some important people will be embarrassed if they are not picked. The whole process lacks transparency and accountability and credibility.""
PERSON newspaper, flagship of GPE's propaganda machine in GPE, attacked GPE on DATE for trying to amend GPE laws in order to preserve GPE's influence after DATE.
The salvo came just a day after the paper criticised GPE's chief handover negotiator, ORG, accusing him of touting GPE's own favourite for DATE leader.
Davies' office dismissed the claim as ludicrous but NORP spokesman PERSON told reporters: ""The NORP side should not meddle, and has no right to poke its nose in. This is entirely a matter for GPE.""",0
"GPE said on DATE that sexual contact was the leading cause of AIDS and warned that venereal disease could be a springboard for an AIDS epidemic.
""GPE should take immediate steps to curb the epidemic of STDs (sexually transmitted diseases) because their incidence rate is rising in the country,"" the official ORG quoted health experts as saying.
""Sexual contact is now the leading cause of HIV infection,"" the agency said. AIDS, or Acquired Immune Deficiency Syndrome, is caused by infection with ORG (HIV).
The number of reported cases of CARDINAL major sexually transmitted diseases diseases, including AIDS, gonorrhea and syphilis, had risen to CARDINAL DATE and officials forecast that figure could rocket to CARDINAL by DATE, it said.
""We should give ORDINAL priority to ORG control in the battle against AIDS, because STDs are a springboard for an HIV/AIDS epidemic,"" ORG quoted Minister of Public Health PERSON as telling a national conference on the disease in GPE.
""In line with the increase of STDs, the occurrence of HIV infection will be more frequent,"" Xinhua quoted PERSON, director of ORG, as telling the conference, which closed on DATE.
Official figures show GPE has CARDINAL people infected with HIV, up from CARDINAL at DATE, but experts say CARDINAL could be infected.
""GPE could see its number of HIV cases spinning out of control if prompt, preventive measures are not taken,"" ORG said.
GPE would open CARDINAL of screening stations as part of a plan to set up a national AIDS monitoring network to supply accurate and fast data on the spread of the disease, it said.
Health authorities would open CARDINAL HIV monitoring centres by DATE and set up a national laboratory to lead the country's battle against the disease.
Prostitution and narcotics abuse have both boomed in DATE as freewheeling economic reforms weaken puritan NORP values.","GPE has launched its ORDINAL survey of its CARDINAL of rural residents to gauge the impact of DATE of economic reforms on the country's agricultural sector, officials said on DATE.
Since DATE, DATE CARDINAL officials and interviewers has been mobilised to canvass CARDINAL households in towns and villages throughout GPE's countryside, PERSON, deputy leader of ORG, said in an interview.
The survey is intended to gather more detailed data on rural areas, which have been radically transformed by the sweeping market-oriented agricultural and economic reforms launched by paramount leader PERSON in DATE, he said.
In GPE township to the north of GPE, a band of women interviewers visited the homes of local residents on DATE to ask about the size of their families, educational levels, what crops they grew and the occupations of family members.
PERSON's reforms have encouraged private enterprise and rural industry, creating huge changes in the countryside, officials said.
""We don't know how people in the agricultural sector are making money,"" said interviewer PERSON.
Official statistics show PERCENT of GPE's CARDINAL people are farmers but officials say this figure is misleading because it includes many former farmers who have since become migrant labourers or rural factory hands.
GPE's farmers have increasingly abandoned their ploughs to take up more lucrative jobs in small-scale township industries or to seek their fortunes in cities.
""After this survey the country will have an overall understanding of how many households are engaged in farming, how many are in township enterprises and how many have gone into business for themselves,"" Xie said.
""This is the ORDINAL national rural census to be held since ORG (the DATE communist takeover),"" Shao said.
""We will be going to every single household,"" he said.
The survey would take DATE to complete, he said, adding that the findings would be published at DATE and throughout DATE.
The survey would cover the numbers and types of farming and non-farming rural firms as well as details of land use.
It would also gather data on infrastructure in villages, towns and counties, NORP said.
""The census will better serve national macro-economic policy and provide more accurate statistics for rural management,"" he said.
GPE must feed CARDINAL of the world's people on PERCENT of its arable land but GPE says a lack of accurate data about cropland has hindered efforts to stop the misuse and erosion of land and boost grain production.
The survey may clear up confusion over how much arable land GPE has. DATE, officials said the amount had been miscalculated, and they raised the estimated total to QUANTITY (QUANTITY) compared with CARDINAL (QUANTITY) DATE.
GPE has forecast a record grain output of QUANTITY DATE, up from DATE's QUANTITY, a record at the time.
Survey authorities have launched a propaganda blitz to urge farmers to cooperate for the good of the nation, NORP said.
""They started broadcasts about it in DATE,"" said PERSON, a DATE gatekeeper and part-time farmer in GPE. ""This will be of great use and spur on agricultural development.""",1
"NORP telecommunications company Energis said on DATE that its parent, the ORG electricity transmission network, might sell a majority stake in the company to CARDINAL or more strategic investors DATE.
The group, which supplies telecoms services to CARDINAL business customers via the GPE's high voltage electricity pylons, also said it was poised to announce a continental deal in a move that will slash the cost of NORP telephone calls.
Chief executive PERSON, who moved from the country's dominant phone company ORG DATE, said PERSON had talked to all global carriers, with the exception of GPE, in its search for international partners.
And since the birth of a new cable giant -- Cable and ORG -- the company is also looking to gain access to key metropolitan areas.
""I think both Energis and the GPE initially see the GPE selling a minority stake in the business,"" PERSON told ORG in an interview. But he added: ""For the right mix of partners, I think they could go PERCENT -- but still maintain a very large strategic and influential interest in the company.""
Energis has been burning a QUANTITY (MONEY) DATE hole in the pocket of the GPE, which was demerged from the CARDINAL regional electricity companies and floated in DATE.
Some analysts say that a significant equity partner in loss-making Energis, that has been valued at QUANTITY, could help inspire the GPE's lacklustre shares.
However, PERSON said talks with GPE telecoms giant ORG were ""not very active"". Some analysts tip the ORG alliance between GPE's ORG, ORG and ORG PERSON as a potential partner.
Global One has little NORP access and Energis has already signed a ""correspondent agreement"" with ORG ORDINAL international carrier, to end each other's transatlantic calls.
But Energis is keeping its options open. It has also talked to ""selected international strategic investors"". ""(A partner) hasn't got to be a global carrier. It has to be a partner who can support us and add value to the business,"" PERSON stated.
Energis was set up in DATE and operates CARDINAL of the country's most advanced networks by wrapping CARDINAL kms of fibre optic cables -- capable of transmitting images and data as well as voice -- around the earthwires between overhead power pylons.
But Energis still has to rely on local operators to originate and end calls.
A QUANTITY merger between ORG and ORG's ORG unit, ORG CableComms, ORG and ORG to create the country's biggest cable group has increased the pressure on Energis to get local access.
To be competitive with ORG and Cable and Wireless Communications, Energis is considering linking up with other cable players, local operators or building its own network.
In the meantime, with an international licence safely under its belt, Energis is looking to spark an aggressive price war on NORP busines telephone routes with an ""imminent"" new correspondent agreement with a major telecom player.
The government broke the ORG duopoly on owning international calls networks DATE, awarding CARDINAL new international licences. Rivals, which used to be forced to lease line capacity from ORG and ORG at high prices, can now buy permament line capacity from others -- and save a lot of money.
""We have a very small market share, a dramatically reduced cost base and every incentive to be aggressive on price to grow our market share. And we will do that,"" PERSON said.
DATE, Energis offered to undercut BT by PERCENT with a MONEY-per-minute charge for selected business customers on direct dialled calls to GPE. ""NORP prices have further to go than NORP prices,"" PERSON noted.
($MONEY Pound)","GPE pledged on DATE to curb a rush by provinces to invest in high-profile industries, but economists said defiance from regional authorities would impede attempts by the central government to restructure the economy.
ORG, mouthpiece of the ruling ORG, said many new state enterprises were doomed from the beginning due to blind investment in many provinces.
""From DATE production began, (many enterprises) entered a vicious cycle of high investment, high consumption of resources, low production efficiency and poor management,"" the newspaper said in a front-page commentary.
Many old enterprises, unable to upgrade their technology, lose their competitive edge and become inefficient, it said.
The newspaper said blind investment was widespread, citing CARDINAL provinces that listed car production as CARDINAL of their pillar industries in their DATE Plan DATE and the plan for DATE.
CARDINAL provinces listed electronics as CARDINAL of their pillar industries through DATE, and CARDINAL provinces said they would concentrate on machinery and chemicals, the newspaper said.
""This has been a major problem for GPE's economy for a long time,"" economist PERSON said in a telephone interview when asked about the blind investment.
Blind investment had also led to monopolies and local protectionism, with many provinces banning competitive products from neighbouring regions, the newspaper said.
It said GPE's economic structure was ""unreasonable"", with too many small enterprises, not enough large enterprises, too many low-end products and insufficient high technology items.
The central government planned to restructure the economy DATE to curb concentration in high-profile industries and to boost efficiency, the newspaper said.
""Restructuring the economy...is a mission of extreme importance,"" it said.
The central government would try to divert investment into the manufacturing of products with big demand as well as high technology products, the newspaper said. It did not elaborate.
The government would try to break monopolies by encouraging joint ventures among provinces, the newspaper said, adding that business groups would be encouraged to shed affiliates that are not related to production, such as hospitals and kindergartens.
""There are many difficulties and contradictions in adjusting and improving the economic structure, but...ORG (cabinet's) determination will not waver,"" the newspaper said.
But economist PERSON was not optimistic.
""This is not a problem that can be resolved in DATE,"" PERSON said.
Many local governments would defy or skirt decisions by the central government to limit investment in certain industries to a few regions, he said.
PERCENT of GPE's estimated CARDINAL state enterprises are hopelessly in debt and unattractive to investors looking for cheap companies to buy or to merge with.
The government has been dragging its feet on bankruptcies due to fears of mass unemployment and social unrest.
However, the number of bankruptcies in GPE -- unheard of for DATE -- was expected to more than double to CARDINAL DATE, or more than the total of DATE put together.",0
"Slower-than-expected DATE economic growth might force ORG (CNB) to make a modest interest rate cut DATE, but analysts said the priority would still be to fight inflation.
ORG (ORG) said on DATE that DATE gross domestic product (GDP) grew by PERCENT year-on-year, putting GDP PERCENT higher for DATE.
A ORG survey of economists on DATE had predicted growth for DATE of PERCENT, slowing from the official PERCENT for DATE, and PERCENT for DATE.
Analysts said that the real figures, when combined with recent results showing a rapid slowing of money supply growth, proved that while ORG (CNB) DATE tightening had been effective, it may have gone too far.
""This turned out to be somewhat worse than we hoped...we do expect a slight cut in rates DATE. I think we'll wait just to see the development of prices in DATE,"" said economist PERSON at ORG.
Inflation has been stubborn in DATE, with the DATE rate hovering PERCENT until DATE. But by DATE, inflation had slowed to PERCENT, DATE.
PERSON however added that he expected ""the central bank still will be looking more after inflation than growth"".
He said the government should consider ending incremental price deregulations on energy and rents and instead quickly lift the controls to allow inflation to settle to its core rate, and allow for longer-term investment planning.
The key measure of money supply growth, PERSON, slowed to PERCENT, DATE, by DATE from PERCENT DATE.
That came after the CNB's hiked its discount rate a full percentage point to PERCENT in DATE and raised minimum reserve requirements to PERCENT from CARDINAL. The CARDINAL rate then slowed to PERCENT by DATE.
""The interest rates are really high, that's why the tight monetary policy is working and slowing the growth,"" said PERSON, a foreign currency dealer at ORG in GPE.
""We will have to wait probably for DATE so that the GDP can improve together with a rate cut,"" he said.
Domestic demand remained strong but flat at PERCENT for DATE, and PERCENT for the DATE period, but well below DATE levels.
A major harness on growth expansion has been relatively stagnant exports, stifled by the slowdown in demand in western LOC and especially neighbouring GPE.
""The most dynamic growth influence, as it was in DATE, was the development of trade,"" the ORG said in its statement.
In DATE, the ORG said, imports were CARDINAL crowns, a year-on-year increase of PERCENT.
Imports for DATE totalled MONEY crowns, an increase of PERCENT over DATE.
Meanwhile, the ORG said DATE exports grew by PERCENT, DATE, to MONEY crowns, putting the DATE combined total at CARDINAL crowns, or PERCENT.
""In the area of foreign trade, dynamic growth in the importing of goods and services was seen, with the yearly growth accelerating from PERCENT in DATE to PERCENT in DATE,"" the statement said.
-- Prague PRODUCT, CARDINAL-2-2423-0003","The GPE stock market posted its ORDINAL record close of DATE, led by a rally in GPE's so-called Big Six banks.
GPE's key CARDINAL Composite Index rose CARDINAL points to close at CARDINAL in turnover of CARDINAL shares worth MONEY (MONEY).
Investors snapped up banks and other financial service stocks in anticipation that ORG will announce it is keeping short-term interest rates unchanged following a DATE meeting which ends on DATE, analysts said.
""The most exciting group DATE was none other than the financial services,"" said ORG investment advisor PERSON.
""The feeling is that interest rates are not going to rise,"" he said.
Advancing stocks outpaced declines CARDINAL to CARDINAL while another CARDINAL issues were unchanged.
The banks led GPE's CARDINAL strong groups with a PERCENT gain, followed by pipelines and utilities. The ORG's CARDINAL weak sectors included media, golds and oils.
--- HOT STOCKS ---
* ORG, GPE's ORDINAL largest bank, jumped CARDINAL to finish at CARDINAL on CARDINAL shares. ORG gained CARDINAL to close at CARDINAL on CARDINAL shares.
* Junior minerals explorer ORG continued to lead active stocks, rising CARDINAL to CARDINAL on CARDINAL shares.
* ORG fell CARDINAL to CARDINAL on turnover of CARDINAL shares, depressed by weak potash prices.
ScotiaMcLeod analyst PERSON said GPE has been exporting potash at cheaper rates recently.
""It's the number CARDINAL competitor for Potash in Saskatchewan for the moment and they continue to sell their potash at aggressive pricing,"" ORG said.",0
"Ecological warfare has broken out across the NORP construction industry, striking some of the biggest corporates as activists give up peaceful protests and seek to hit builders where it hurts -- their profit margins.
Described by CARDINAL NORP company as ""eco-terrorism"", it is seen as the new business risk of DATE.
Famous names like PERSON, ORG and ARC, a unit of conglomerate PERSON, have all been targeted.
NORP groups are no longer seen by NORP firms as a harmless, badly organised ragbag of students and hippies.
""You only have to see them in action at protests,"" said PERSON, spokesman at ORG, ORG's aggregates company. ""They walk around with mobile phones and camera equipment, they communicate and gather support for demos via the Internet -- we're talking about a highly sophisticated organisation.""
CARDINAL road protestor under the codename PERSON told construction journal ""WORK_OF_ART"" DATE, ""If it comes down to full-scale economic warfare, we will aim to drive them out of business.""
As well as financial threats, companies also emphasise the ""terror"" tactics used.
Costain's contract to build the controversial ORG bypass, which runs through a conservation area, has led to violent protests delaying building, bomb threats, staff intimidation and picketing of chief executive PERSON home.
A Costain spokesman told ORG had all sorts of protests at the head office and the chief executive's house. But it's when it gets to the (employee) families -- that it goes across the line.""
Tactics used by some underground groups including the cryptic ORG, which distribute leaflets with instructions on home-made explosives, are now the subject of a police investigation.
Other larger activist groups include NORP, The Land is Ours, GPE and PERSON.
The groups have targeted specific projects like the NORP bypass and the LOC motorway through Twyford Down in the southern county of GPE.
But they are also campaigning on broader issue such as stopping the government road building programme and out-of-town superstores which they say create more traffic, pollution and damage local communities.
The government has slashed its road-building spending. Although protests may have contributed to the decision it has been seen primarily as economic rather than ecological.
PERSON, chief executive of ORG, said :""I don't think many firms involved in tendering for sensitive projects realise the impact environmental activity has on the cost of running a project.
""But they are more alert than they were DATE. There's no doubt it's a big issue now.""
He says the damage comes in CARDINAL forms: ""Tangible -- in the form of extra costs, additional security, threats to staff and the more intangible damage caused by negative publicity.""
Watts said the cost of protesting can be heavy once the company is locked into a contract.
""I do often hear on the industry circuit of tales where the company tenders at low margins and the demonstrations which follow means they are running the project at a loss.""
ARC says it's not just contractors in the front line but also suppliers like itself.
Its own quarries came under attack after it emerged that it may be a supplier for the NORP bypass.
""It was called the ""WORK_OF_ART bypass',"" said PERSON's Harding.
""We had CARDINAL Earth First protestors invade and occupy our site. CARDINAL of pounds (dollars) of damage was done in DATE. Plus there was the knock-on cost of lost production and extra security in future.""
PERSON, analyst at investement bank ORG, said this new phenomenon has led to a change in the way the industry evaluates project risk.
""When talking to PERSON about the LOC link (through Twyford Down) they made it fairly clear that their risk assessment methods have been changed and now involve a very clear environmental risk analysis.""
Harding says others have done the same. ""As a result of eco-terrorism we are looking at controversial jobs more closely to see if the profit margins are wide enough to cover things like extra security.""
For an industry already suffering from razor-thin margins, overcapacity and stagnant demand, eco-terrorism is the latest bizarre twist in the construction sector's tale of woe.","GPE leisure group PERSON is seen sealing its proposed takeover of ORG in DATE, when details will be sent to shareholders after due diligence is complete, a senior source close to the company told ORG.
ORG confirmed earlier on DATE it was in talks with the GPE soccer club about the acquisition which is expected to take the form of a reversed takeover with GPE floating on ORG. The source said: ""ORG will pay a figure approaching CARDINAL, but it'll be CARDINAL.""",1
"PERSON has quashed a threatened proxy fight by restucturing its core business, but the independent refiner must still prove its ability to prosper in an industry plagued by poor profit margins.
A series of actions unveiled DATE by GPE was viewed as a significant step to convince investors that management will not stand by and watch profits erode.
""The question now is whether they can deliver. I think there will be more to come,"" said PERSON, analyst at ORG.  
GPE earlier announced a series of steps aimed at enhancing profitability. They included a restructuring of business units, a share buyback program, the evaluation of strategic alternatives for its non-core exploration unit, and a program to evaluate and cut costs.
The GPE-based refiner has recently been pressured by a GPE investment firm that had nominated a CARDINAL-person slate for election to the company's board of directors at the DATE DATE meeting.
In announcing the restructuring on DATE, GPE also announced ORG had withdrawn its slate.  
""They have addressed all the major issues we raised. We feel the plan is genuine and that they are sincere about defining a new era at GPE,"" PERSON, president of ORG, told ORG in a telephone interview.
PERSON said representatives of GPE met with GPE DATE. GPE also recently has met with institutional investors.
Although shares of GPE showed little reaction to DATE's plan, analysts noted the stock has risen MONEY per share since DATE on views of a restructuring. The stock was trading unchanged at CARDINAL in TIME trading.  
Analysts widely expect GPE to sell the exploration unit and participate in widespread consolidation taking place throughout the industry. The company did not disclose any cost-cutting targets or timeframe to implement the actions.
But analysts said the restructuring is a solid reflection on company veteran and chief executive officer PERSON, who is set to move into the role of chairman to replace retiring PERSON.
""I think this is positive. This is a quicker-than-expected start on restructuring,"" said PERSON of ORGamp; PERSON, who values the exploration unit at $MONEY to MONEY.
Analysts also said that the restructuring is likely to be an evolutionary process.
""It's not going to happen DATE. The results will prove themselves over time and if they don't, there will be further initiatives,"" said PERSON of ORGamp; Co.
Meanwhile, PERSON said his group will continue to monitor the company's progress.","The outcome of a bidding war for ORG is increasingly likely to be decided by its investors, who will ultimately determine if the railroad should strike an MONEY deal with ORG when a MONEY offer is also on the table.
Wall Street experts said ORG was unlikely to be swayed from its planned merger with ORG despite a higher bid lobbed DATE by ORG. ""Nothing has changed. I think a lot will depend on what happens with the shareholder vote,"" said PERSON of PERSONamp; Co.  
ORG has agreed to a stock and cash transaction with ORG valued at MONEY. ORG, which had already outbid ORG, DATE sweetened its all-cash offer to MONEY.
Shareholders are considered key to the ORG transaction because GPE corporate law prohibits ORG from buying PERCENT of ORG in a tender offer without their approval. A shareholder meeting is slated for DATE.  
Some shareholders have expressed unhappiness with the proposed ORG transaction. Conrail ""won't win the shareholder vote,"" predicted CARDINAL arbitrager.
Arbitragers, who have been among the most vocal opponents of the ORG deal, said that ORG would further strengthen its position by aggressively urging  ORG shareholders to defeat the ORG proposal.
""It's got to be like PERSON's marathon, but with a more successful conclusion,"" said CARDINAL, referring to the TIME campaign blitz launched by the losing GPE presidential candidate in DATE election.  
ORG chairman PERSON declined to be specific about the company's plans to woo shareholders.
""The numbers in our bid speak for themselves. It should be readily apparent that it's a superior offer. We're willing to talk to all of the constituencies involved, including shareholders and others who are interested in this, and we are doing that,"" he told ORG in a telephone interview.
ORG has said it will review the new ORG offer, but the NORP-based railroad also has defended the ORG transaction as a better strategic match.  
""We have high regard for ORG and its board, but we simply do not believe that a sale of ORG to ORG is in the best interest of ORG and its constituencies,"" ORG wrote ORG on DATE before the bid was raised.
The new ORG bid reflects an PERCENT premium over ORG's plan, which values ORG at MONEY per share. ORG has raised its bid to $MONEY per share.
Shares of ORG rose CARDINAL to CARDINAL after the new bid.
Wall Street experts said ORG and ORG, which already revised the terms of their transaction once, may feel pressured again to increase the portion of cash in their deal. However, most industry experts do not expect a revised bid to top the offer made by ORG.",1
"The birth of a cable giant led by ORG rival ORGamp; ORG should enliven competition and could eventually ease pressure on ORG by regulators long worried by its dominance of the GPE market, analysts said on DATE.
In its latest rebuff, telecommunications watchdog ORG on DATE banned a promotion by ORG, GPE's biggest telephone company, with satellite broadcaster BSkyB, citing a ban on ORG's use of its network for entertainment.
""ORG's decision is nuisance value for ORG. (but) the Cable & ORG deal has far-reaching implications,"" said PERSON of ORG.
The merger announced on DATE created ORGamp; ORG, a company controlled by C&W that brings together its own ORG telecoms business with the NORP operations of ORG of the GPE, ORG, and ORG to create a MONEY group. Its constituent companies already reach CARDINAL homes for cable television.
""The stronger ORGamp; ORG is perceived, the more ORG will get off ORG's back,"" suggested PERSON, analyst at ORG.
""BT is likely to push hard and use this as an argument for letting them into the market,"" she added of the potentially lucrative multi-media business opportunities.
Following the ORG decision, ORG shares fell, closing off MONEY to MONEY and PERSON was off MONEY to MONEY, a low for DATE. C&W was up MONEY to close at CARDINAL.
ORG said that ORG's promotion, which involves discounts on subscriptions to BSkyB for customers using a ""WORK_OF_ART"" phone charges offer, was discriminatory.
BT said it was ""baffled"" by ORG's statement and claimed that the promotion offered cost savings to customers and was open to all ORG users.
ORG's decision is particularly emotive, analysts said, as it follows hot on the heels of its rivals' merger and despite active lobbying by ORG to have the restriction on it offering television lifted.
BT welcomed the new ORGamp; ORG, saying that it would help to create a market where ""competition can become the natural regulator."" It points out that C&W already has a telephony company that competes with ORG.
The Conservative government has stood its ground on ORG's ban from cable television, saying there will be a review of the situation in DATE with a possible early look in DATE.
The opposition Labour party, currently leading in polls ahead of a general election which must be held by DATE, has linked opening doors for ORG to connecting up schools to the Internet.
BT's promotion with BSkyB would have seen cost savings of around 90 pounds ($MONEY) DATE per customer in subscription discounts and credits to telephone bills, a ORG spokesman said.
Analysts said customers also stood to benefit from the emergence of C&W as a strong domestic competitor to ORG.
""As the businesses are put together, say a year out, it will begin to have an impact on ORG,"" said PERSON.
""It will be a pretty competitive environment,"" he added.
Cable & ORG has CARDINAL homes in its sights through a variety of franchises throughout the country and access to CARDINAL business and domestic telephone customers through its ORG unit.
It will be offering not just cable television and telephony but also home shopping and Internet link-ups.
""It will be a more coherent competitor to ORG, customers will feel more confident of CARDINAL name instead of fractured franchising,"" said CARDINAL analyst who asked not to be named.
For BSkyB, which is PERCENT owned by media tycoon PERSON ORG, the new cable power could mean harder negotiations on programme pricing, analysts said.
""Cable & ORG might feel it has more muscle to flex but BSkyB could see it as desperate for content; they both will need each other,"" PERSON said. ($MONEY Pound)","GPE's ORG seems poised to supplant CARDINAL NORP mining giants to become the world's biggest gold producer through an unprecedented deal which will give it a majority share in GPE's rich Busang gold discovery.
PERSON, whose high-profile board of directors includes a former GPE President PERSON, on DATE confirmed DATE of rumors it was negotiating with ORG for a stake in the Busang deposit, which contains QUANTITY of gold, possibly more.
The unusual negotiations were requested by the NORP government, which has urged ORG to hand PERCENT of its Busang stake to PERSON and form a joint venture.
""If this thing comes off, it makes ORG the leading gold producer in the world,"" said PERSON, vice-president of GPE brokerage ScotiaMcLeod.
""It indicates the advantages to major companies in having such high profile people on their board as PERSON and (former NORP prime minister) PERSON.""
Exploration at the Busang property is still in its DATE, but already the potential promises to catapault ORG's production above that of the world's CARDINAL leading gold companies, ORG and Gold Fields of South Africa Ltd.
PERSON started with basically no gold production in DATE and grew through acquisition and exploration to produce QUANTITY a year.
PERSON's flamboyant chairman PERSON, a fabulously wealthy risk taker well connected in both business and politics, has made no secret of his ambition to make his company number one.
While neither PERSON nor ORG would comment on how PERSON managed to persuade the NORP government to virtually mandate a deal with ORG, pieces of an intriguing jigsaw are beginning to fit together.
PERSON bought the Busang properties in DATE and made the huge gold find in DATE. The discovery propelled the company's stock from pennies to over C$MONEY before a stock split.
After ORG announced it would search for a heavyweight mining partner in GPE, the PERSON story turned sour.
One of ORG NORP partners claimed rights to PERCENT of the deposit and threatened to sue. The NORP government then delayed granting ORG its vital mining permits because of the ensuing disputes. ""It's quite clear that ORG did not follow protocol in its ownership issues,"" said an analyst who asked not to be named.
So PERSON set up a strategic alliance with the eldest son of GPE's President PERSON, hoping the alliance would help sort out its problems. At the same time, PERSON was worked behind the scenes to gain the upper hand, sources said.
""PERSON is a pretty smart guy,"" said PERSON. ""No grass grows under his feet.""
PERSON developed a relationship with PERSON's eldest daughter, hiring her construction company for future mining work. It developed ties with the NORP government, probably using PERSON and PERSON's influence, sources said.
""They (Barrick) really did the end run. There was lots of arm twisting,"" said an executive at a rival mining company.
Spokesmen for both PERSON and PERSON declined comment.
With the NORP government almost forcing ORG into ORG's arms, ORG has lost much of its bargaining power. ""The government is God here. It holds most of the cards,"" said PERSON with brokerage PERSON.
GPE has given the companies until DATE to come up with an arrangement. If they do not, the NORP government could take matters into its own hands.
But on DATE PERSON investors seemed confident that ORG would win a reasonable deal. They pushed the stock up C$MONEY to CARDINAL in heavy trading. PERSON rose CARDINAL to CARDINAL.
""At DATE, I believe PERSON will be fair,"" said Fowler. PERSON has an international reputation to uphold and could face lawsuits from ORG shareholders if it tries to undermine ORG may buy part of GPE and act as operator, rather than bidding for ORG, analysts said.
""None of the parties involved here will walk away completely unscathed,"" said analyst PERSON with ORG in GPE.
With all the intrigue and rumor clouding the GPE developments, investors will always wonder if they've heard the whole story, he said.",0
"The largest NORP commercial bank, PERSON a.s. , on DATE posted PERCENT lower DATE results but attributed the drop to accounting changes and PERSON's shares rose on the news.
The bank's net profit, calculated under international accounting standards, declined to CARDINAL crowns from MONEY, but GPE shares moved higher on ORG as analysts praised the results.
The bank's finance division director PERSON told a news conference that since DATE, GPE had revised its methodolgy to exclude unpaid late fees and commissions, including penalty payments.
""Our profit, according to international accounting standards, is by PERCENT lower than in the same period of the last year. But, there is very important methodical influence,"" PERSON told reporters.
""Currently there are only really paid late fees in our books, that means real cash flow.""
He added that the sum of unpaid late fees substracted from the accounting was CARDINAL crowns. PERSON posted a MONEY net profit for the whole of DATE.
The bank's total assets rose to MONEY crowns at DATE from MONEY, year-on-year.
The net interest margin declined to PERCENT from PERCENT, but up from PERCENT at DATE.
Under NORP accounting standards, which PERSON said do not include the tital of CARDINAL crowns of unrealised gains from securities, GPE's gross for the period was CARDINAL, down from MONEY on year.
He told rpeorters that he considered the results to be ""very good"", but warned that simple annualisation of DATE figures would not lead to DATE profit forecast.
He said DATE results could be affected by unclear development on the stock market and other factors.
Sandy PERSON, vice president of equity research at the GPE office of ORG, welcomed the figures,
""The results are quite in line with our expectations, I think the performance is very strong, and it puts PERSON in a very good position to meet or exceed out DATE forecast.""
He added that the forecast was a MONEY crown net profit, according to international standards.
Komercni share price jumped CARDINAL crowns on ORG soon after the news to CARDINAL, and closed at CARDINAL after a week of heavy losses in which some analysts anticipated poor results.
Dealer PERSON of ORG said the results were in line with his expectations and partly attributed GPE's share price rise to demand from foreign investors.
""Some of the foreign investors...think they are not so bad therefore we can see some demand in the stock,"" he said.
Added PERSON: ""We definitely remain buyers of the stock, and the recent weakeness in the shareprice we interpret as a major buyer opportunity.""
Komercni's largest shareholder is still the NORP government which has a PERCENT stake, followed by ORG which has accumlated a PERCENT stake.
-- Prague PRODUCT, CARDINAL-2-2423-0003","NORP Prime Minister PERSON on DATE said the government had approved a plan to privatise at least part of the state's PERCENT stake in commercial bank ORG a.s..
Speaking after the government's regular DATE session, ORG said he had charged ORG Minister PERSON with the task of setting conditions for a tender to sell the stake.
He added that no decision on a central bank proposal to merge banks ORG a.s. and PERSON a.s. had been taken, though the government remained committed to privatising its holdings in the country's CARDINAL biggest banks.
""He (NORP) is due to submit to the cabinet, in cooperation with a chosen consultancy firm, the criteria for the selection of a strategic foreign partner,"" ORG said.
Representatives from the state privatisation agency, ORG (ORG), and the central bank would also be involved in the process of developing the tender.
""The intention is for Mr Kocarnik to come up with the criteria as soon as possible,"" ORG said.
Klaus did not say how much of the government's stake would be included in the sale to a strategic foreign partner.
GPE's ORG and NORP banks ORG and ORG have been widely reported as expressing an interest in the ORG stake.
The central bank has submitted a plan to the cabinet proposing a merger of ORG, where the NORP government holds PERCENT, and PERSON where it has PERCENT, but Prime Minister PERSON has reacted coolly to the idea.
""We did not make any fundamental judgements on mergers today,"" ORG said. He did not elaborate.
A merger of ORG and GPE would create ORG largest bank with assets topping MONEY.
Klaus added that the privatisation of ORG, which is wholly-owned by NORP and GPE state institutions, and the selloff of PERSON were complicated because of shareholdings and arrangements between the banks and GPE.",1
"The television industry's new ratings system is a bust and is rife with inconsistencies that make it tougher for parents to pick shows appropriate for kids, a conservative media watchdog group charged in a new study on DATE.
ORG reviewed TIME of shows in DATE that ended DATE on CARDINAL broadcast networks: ORG, ORG, ORG, ORG, ORG and ORG. The study concluded the age-based system, which began airing DATE, was confusing and contradictory.
TV officials said it was too soon to judge.
The study, for example, said PERCENT of shows got a middle-of-the-road TV-PG rating -- parental guidance suggested -- although CARDINAL of these shows contained obscenities while CARDINAL did not.
Words such as ""ass,"" ""bastard,"" and ""son of a bitch"" were typical on PG shows, and while an obscenity for sexual intercourse was bleeped out CARDINAL times, it was understandable when uttered, the study said.
It also charged there was no consistency within different episodes of a series. In an episode of ORG's ""PERSON,"" a girl shot her uncle. The man fell over dead with no blood. That bloodless depiction drew a TV-14, for parents of kids under 14 strongly cautioned.
An episode DATE had a lesser PG rating even though it showed a bloody torture scene, the group said. In that episode a man put a razor blade in his wife's hand, then clasped the hand between his own and squeezed it violently, forcing the blade into her hand and causing the hand to bleed.
""After DATE of the new system, it is apparent that those who said it would never work were right,"" said PERSON, chairman of ORG.
ORG told a news conference the system ""is a failure and should be junked at the earliest possible opportunity.""
Others from the opposite end of the political spectrum said the study's findings backed their own view.
""You can't tell what the content of the shows are from the ratings,"" said PERSON of the Centre for Media Education, a children's advocacy group.
A number of groups representing lawmakers, parents, children's advocates, educators and others believe this system is too vague and advocate a content-based system that would specify violence, sex and strong language, using letters such as V, S and L.
The current ratings have CARDINAL categories for children: TV-Y, children of all ages, and TV-Y7, children 7 and older.
Aside from TV-PG and TV-14, the other CARDINAL categories are: TV-G, suitable for all ages; and TV-M, for mature audiences only.
TV industry officials stressed that their system was still in its infancy and that it was too early to draw conclusions.
""The television industry's parental guidelines system is DATE. Before its critics attempt to kill it in the cradle, it should be given a fair chance to establish itself,"" said PERSON, ORG senior vice president.
ORG was expected to hold hearings DATE on the system's effectiveness.","ORG said DATE it planned to split into CARDINAL companies through a tax-free spin-off to shareholders in a bid to boost its stock market value.
Wall Street welcomed the move, which was seen as unlocking the value of the GPE-based company's core high-tech communications business.
""That's where the growth is,"" said industry analyst PERSON of brokerage PERSON.
ORG said it will create ORG out of its cable television, satellite and telephone business; ORG out of its coaxial cable manufacturing business; and ORG from its units that make electronic components.
""Investors will be able to value each of the CARDINAL companies on its own merits and growth fundamentals,"" said ORG Chairman PERSON.
The company said the breakup will force it to take an after-tax charge against earnings of MONEY, or MONEY to MONEY a share, for DATE. The DATE charges consist mainly of costs related to the transition to the next generation of digital products, restructuring costs incurred through DATE, and the write-down of certain assets, the company said.
The company said it will incur additional charges DATE of MONEY for costs related to the spin-off, including the costs of dividing the company's GPE assets between ORG and ORG.
The company expects DATE earnings, which will be announced DATE, to be in the range of MONEY to MONEY a share, excluding the charges. DATE, the company reported net earnings of MONEY, or MONEY per share, in DATE.
The restructuring is expected to be completed DATE.
Friedland, who will become chairman of ORG, said the CARDINAL businesses would be best positioned as independent, public companies.
""The businesses have different dynamics and business cycles, serve different markets and customers, are subject to different competitive forces and must be managed with different short- and long-term goals,"" PERSON said in a statement.
NextLevel will be comprised of ORG cable, satellite and telephone businesses, which had DATE sales of MONEY. The company will supply systems and components for high-performance networks delivering video, voice and Internet and data services.
CommScope Inc. will make and supply coaxial and electronic cables, businesses that had DATE sales of MONEY.
ORG, the company's power semiconductor division, will supply low-to-medium power rectifiers and voltage suppressors. It had DATE sales of MONEY.
ORG stock rose MONEY to $MONEY in TIME trading on ORG.",0
"GPE pro-GPE community flew NORP NORP flags across the territory on DATE to mark GPE's national day for what could be the last time before GPE takes over in DATE.
As champagne glasses clinked amidst the laughter of CARDINAL of guests, NORP hosts and well-known artistes flown in for the grand event in the posh PRODUCT fronting LOC, many wondered if they would be able to celebrate in the same style DATE.
""We don't know DATE, we have to see how the future GPE government decides,"" PERSON, general manager of ORG, GPE's de facto mission in GPE, told reporters.
GPE, a NORP colony for DATE, reverts to NORP rule on DATE. Under its Basic Law, a mini-constitution which takes effect from the handover, is a clause that GPE must observe the ""CARDINAL-China"" principle.
NORP GPE regards GPE as a rebel province since the NORP government fled to the island after losing the Chinese civil war in DATE and has long sought to push the island into diplomatic isolation.
""I'm not sure what the future is for the celebration of the Double-ten event DATE but we really want to continue if we can, even (if it is) within some other format,"" said PERSON, a PERSON spokeswoman.
She added the form of the event DATE and the fate of future GPE-GPE relations would have to be sorted out through high-level cross-straits negotiations.
Pro-Taiwan sources believe the post-handover authority is likely to prevent flashy celebrations of the event -- known as ""Double-ten"" because it falls on DATE -- and to bar public display of NORP flags and gatherings.
While the continued existence of the de facto NORP mission is less in doubt -- so long as it abides by rules -- the raising of the NORP flag, representing clear skies, white sun and the earth flushed with redness of the warrior's blood, would probably not be allowed.
""This is very clear, and the principle is very clear... after DATE, GPE must abide by the 'CARDINAL GPE' principle as laid down in LAW,"" said a spokesman with ORG, GPE's de facto embassy in GPE.
Asked if raising of the GPE flag after the handover would contravene LAW, he said, ""It should be. After CARDINAL, this matter according to LAW would be enforced by the GPE government, the central (GPE) government would not interfere in this matter.""","Officials from ORG pledged to review security measures DATE after the ORDINAL fatal shooting in DATE at CARDINAL of their facilities.
But executives from the automaker said there was little that plant security guards, who do not carry guns, could do to defend themselves against armed intruders.
""When somebody blasts their way into a factory, it's very difficult to prevent,"" said PERSON, the executive vice president in charge of ORG's automotive operations.
A gunman dressed in military fatigues shot his way into ORG ORG plant QUANTITY west of GPE DATE TIME, according to police.
The man killed a manufacturing planning manager, DATE ORG, and fired at people throughout the plant, sending workers fleeing in panic through the sprawling assembly complex.
Before it was over TIME, several people, including CARDINAL police officers, had been wounded.
The shooting came DATE after a ORG worker shot and killed a security guard at ORG's PERSON climate control plant in GPE, GPE In DATE, another employee of the plant wounded his estranged wife and killed her boyfriend before killing himself.
In DATE, a ORG ORG union official killed CARDINAL fellow union officials and wounded CARDINAL others during a shooting at ORG's ORG centre in GPE, GPE
Throughout DATE, radio and television stations carried calls they said they received from TIME ORG workers who complained about the stressful work environment at the ORG plant and other ORG facilities.
But ORG spokesman PERSON pointed out the suspect in the Wixom shooting, identified as PERSON, DATE, was not an employee of any ORG facility. Moreover, he noted it has not been uncommon in DATE for workers at Wixom to be idled because of slow demand for vehicles made at the plant.
The plant produces the ORG PRODUCT, PERSON and ORG cars, which have all been experiencing soft sales. CARDINAL TIME workers, members of ORG union Local 36, work at the facility.
During a news conference, plant manager PERSON described the plant's workforce as dedicated, hard-working and cohesive. He said the plant's security measures would be reviewed. Some workers told reporters they had not had their security badges checked in DATE.
ORG Local CARDINAL President PERSON said the union was saddened by the event and had set up a counselling line. He declined to comment on the DATE's events because the investigation had not been completed.",0
"The planned MONEY merger of ORG and ORG is certain to shake up the global telephone business, officials and analysts said DATE, as regulators started digging in for a close look at the deal.
ORG and ORG on DATE announced the largest LOC takeover in history.
The deal would create a global powerhouse vying with ORG, GPE's ORG and a handful of other companies in a fast-changing, lucrative industry that will be a critical component of global commerce well into DATE.
The proposal will create work aplenty for NORP, NORP and NORP regulators who will review the merger, which would create a MONEY company serving CARDINAL business and residential customers in CARDINAL countries.
For consumers, it could mean better service and lower international calling charges, while the new company would aim to better support its business customers around the world.
It will cause sleepless nights for rivals such as ORG, ORG, ORG and ORG Telekom as they weigh how to respond. ORG is allied with the NORP and NORP companies in the LOC international venture while ORG is part of a network of alliances called ORG.
The new company, to be called PERSON, plans to take on ORG's dominance in the GPE long-distance market, where ORG now has PERCENT of a MONEY business, and to win part of the $MONEY market for residential local phone service.
It also is expected to expand in the LOC -- a long-held aim for British Telecom.
ORG stock jumped in GPE and GPE, where its NORP shares rose $MONEY to $MONEY on ORG in TIME trading.
ORG shares also rose, but MONEY to $MONEY, well below the possible value of MONEY a share based on the price of ORG NORP shares. Worries about regulatory hurdles and the time to complete the deal held back the stock, industry analysts and takeover specialists said.
The merger still needed to win approval from regulators in GPE and GPE.
NORP Telecom said it was optimistic that ORG would clear the merger.
NORP officials have said only that they were looking at the deal. ORG has already called on ORG to give it thorough scrutiny.
AT&T also said GPE and NORP regulators should not give approval unless there is more competition in ORG home market.
NORP Telecom Chief Executive Sir PERSON has said it could take DATE for the deal to win regulatory approval.
""There are a lot of hurdles to be cleared but I think the deal will go through,"" CARDINAL GPE-based analyst said.
Federal rules prohibit a foreign company from owning PERCENT of a GPE telephone company if the acquiror's home market is not open to competition.
Under the merger ORG, which already owns PERCENT of GPE-based ORG, will issue PERSON cash and stock for PERCENT. Holders of ORG stock will end up controlling CARDINAL of the merged company.
The merged company will acquire the PERCENT stake which ORG holds in PERSON ORG media empire. ORG, perhaps wary of regulatory concerns, said on DATE it did not plan to pursue an option to increase this to PERCENT.","DATE, shareholders and analysts were pushing for H&R ORG to spin off its ORG unit, arguing that the unit's value was being held back by H&R ORG's staid tax business.
On DATE, H&R ORG began that process with a public offering of PERCENT of ORG
Analysts are still looking for the spinoff to be completed, but now the focus is on the sagging fortunes of the online service which is weighing on H&R ORG's performance.  
""The business model changed for CompuServe in a fairly dramatic way and now ORG's valuation is clearly holding back H&R ORG's valuation,"" said PERSON, analyst at ORG.
On DATE, H&R ORG reported a net loss for DATE of MONEY or $MONEY a share, compared to a loss of MONEY or $MONEY a share DATE. GPE-based H&R ORG said the larger loss was primarily due to ORG's MONEY DATE loss. H&R ORG still owns PERCENT of ORG.  
""How quickly things change,"" said PERSON, analyst at PERSON. ""What happened was a whole lot of competition came in (to the online market.) The market became saturated before people expected.""
In DATE, H&R ORG suspended the rest of the spinoff, citing ORG's performance and market conditions, among other factors.
Analysts said H&R ORG is waiting for implementation of ORG's newly announced business strategy -- focusing on business and professional users, rather than home users -- to push the company toward profits before completing the spinoff.  
H&R ORG also said DATE it was reducing its DATE dividend to $MONEY a share from $MONEY, a move that it had previously said would occur after the spinoff was completed.
""The timing of (the dividend cut) was a little bit surprising,"" Romm said.
Both Romm and PERSON said they continued to rate H&R ORG stock as a buy and stressed that there was nothing wrong with the company's core tax business.
""I believe the company will have a very good tax season DATE,"" Romm said, noting H&R ORG has made investments to grow the business. The company said its ORG unit reported a pre-tax loss of MONEY in DATE, up MONEY from DATE.
""They're making these investments primarily in new stores that are absorbing costs primarily without any commensurate contribution in revenue,"" Romm said, noting that the tax season does not begin for DATE.
H&R ORG stock was down CARDINAL at CARDINAL DATE, after falling as low as 26-3/8 earlier in DATE's session.
--Reuters GPE newsdesk, CARDINAL-408-8787",0
"GPE will announce cuts in coffee exports DATE under the terms of a beefed up retention plan recently agreed by members of ORG (ORG), coffee czar PERSON said on DATE.
The head of ORG also said GPE's internal coffee price would be raised in view of recent gains in international markets. He did not, however, say when the hike would take effect nor what the percentage rise would be.
In the provinces, meanwhile, coffee growers are becoming increasingly worried about potential crop damage caused by recent torrential downpours, which meteorologists say have pushed rainfall levels PERCENT higher than the seasonal average. Weather forecasters say the outlook for DATE is just as bad.
Under terms of the ORG deal hammered out in GPE on DATE, member nations will slash back total exports by CARDINAL bags in DATE from the original target of CARDINAL bags set in May.
CARDINAL bags of that will be robusta but arabica- producing countries, like GPE, agreed to rein back CARDINAL bags of exports in solidarity. PERSON declined to specify what proportion of the cut would correspond to GPE.
""The cuts will respond to production conditions and the export situation in each individual country. We will be announcing the cuts this will imply for GPE DATE,"" PERSON told ORG.
As speculation grew DATE that the federation would announce the rise in internal coffee prices at its ORDINAL meeting of DATE, private exporters complained of short supplies.
""Intermediaries and producers have increased prices to scandalous levels in anticipation of a rise in the internal coffee price. Some are just holding on and won't even sell. In some cases prices are up by PERCENT,"" said PERSON of ORG exporters.
""In view of the situation in external markets, we will of course have to raise the internal price of coffee,"" PERSON said. ""We will do the projections and take the decision on the basis of that,"" he said.
The federation cut internal coffee prices by CARDINAL pesos per QUANTITY load to CARDINAL after a turbulent coffee growers' congress on DATE. The move aimed to reduce the deficit of ORG, an organization administered by the federation which buys all NORP coffee at a pre-agreed support price.
The cut was achieved by withdrawing a CARDINAL peso premium, paid in the form of a bond instead of cash, which had been introduced to compensate for the poor outlook for coffee in DATE.
The good news on the internal price front, however, is taking a back seat to the recent weather problems.
""In the southwest and NORP regions, and particularly the coffee growing region, rainfall has been PERCENT higher than normal,"" said PERSON, meteorologist at the national weather center ORG.
""These conditions will be prolonged and we're likely to see similar levels of rainfall through DATE,"" he added.
DATE are normally dry months in GPE. But the torrential rains DATE have been caused by a cooling in the surface temperature of the LOC ocean, known as the La Nina effect -- conditions not seen for DATE.
Coffee growers say the rains are delaying the flowering period and fear the main harvest, which normally begins in DATE, could either be very late or that a part could be lost entirely.
PERSON said it was too early to predict what the impact of the weather could be on crop levels but said federation technicians were drawing up a detailed report, which they hoped to issue in DATE.
((--Bogota newsroom, CARDINAL 610 7944))","ORG is widely expected to raise its MONEY offer for ORG in an attempt to ignite shareholder unrest over the company's acceptance of a lower offer from ORG
Industry analysts speculate that ORG could raise its $MONEY per share bid by PERCENT without diluting its balance sheet or the benefits of a merger.
""If they raise their bid, it will put the icing on the cake. It will take a bid that is superior and widen the gap further,"" said PERSON of ORGamp; Co.  
ORG and ORG earlier revised their DATE merger pact to increase the amount of cash in the transaction.
Shareholders reacted angrily to the new transaction, which effectively offsets recent stock erosion and does not significantly raise the value of the transaction.
Based on the new terms, the ORG transaction values shares of ORG at MONEY, or $MONEY per share, versus an original value of MONEY, or $MONEY.
Wall Street analysts said ORG, which has long pursued ORG, will likely seek to capitalize on the shareholder dissatisfaction.  
""I do believe we will, in very short order, hear something from ORG,"" said PERSON of ORG.
In addition to revising its pact with ORG, ORG formally rejected ORG cash bid. The ORG-Conrail agreement calls for a cash and stock transaction.
Norfolk Southern could not immediately be reached for comment on the speculation it will raise the bid. However, the company said it plans to review its options and called the ORG-Conrail pact inferior to its offer.  
""I think the price is getting rich, but I think there is at least a CARDINAL chance (ORG) comes back CARDINAL more time,"" said PERSON of ORG.
They also said the dissatisfaction with the new deal was not limited to traders of takeover stocks.
""I've heard similar complaints from everybody,"" said CARDINAL analyst who did not want to be identified, referring to large institutional holders of ORG shares.
But experts also noted a higher bid from ORG may still not be enough to wrest the railraod from the grasp of ORG.  
Instead, ORG's future track may be determined by a federal judge in GPE who is slated to hold a DATE hearing on a ORG lawsuit that contends the ORG pact is illegal.
GPE corporate law, which allows a company's board to act in the interests of groups other than shareholders, is viewed as an obstacle to ORG efforts to buy ORG.
""I think the court is going to play a big role,"" PERSON said.
Indeed, concern about the GPE law were viewed as contributing to a decline in ORG shares on DATE. The company's stock fell CARDINAL to CARDINAL.
""People know it's the higher bid, but historically speaking, in most of the cases, hostile deals in the rail sector don't make it,"" Neely said.",0
"GPE stocks soared to new highs on DATE as foreign investors jumped into GPE's financial markets, lured by falling interest rates and the recovering economy.
Shares in GPE's big CARDINAL banks hit DATE highs on ORG, propelling the country's biggest stock market to its ORDINAL record close of DATE.
The NORP dollar has also surged DATE, hitting its strongest level in DATE.
Declining interest rates, low inflation and falling budget deficits have combined to make GPE the flavor of DATE, economists said.
""Overall, foreign investors have just become enamoured with GPE as a place for investment,"" PERSON, an economist with ORG, said in a telephone interview.
ORG index of CARDINAL stocks jumped CARDINAL points to close at 5,749.92, fuelled by brisk action in interest-rate sensitive issues such as banks and utilities.
The index has gained PERCENT DATE, compared to PERCENT for the Dow Jones industrial average and PERCENT for the ORGamp; Poor's CARDINAL index.
ORG is expected to cut interest rates again DATE. The central bank has cut rates CARDINAL times since DATE in a bid to revive a sluggish economy.
ORG Governor PERSON said on DATE that GPE's improving economy gives the central bank more latitude to set NORP rates independent of GPE rates.
He added GPE is now in a better position to withstand a hike in GPE rates than it has been in DATE.
""The economic outlook is favourable. We will soon see signs of the payoff for the difficult restructuring decisions taken in both the private and public sectors,"" Thiessen said.
After DATE of belt tightening, NORP governments have either balanced their budgets or are on track to wipe out huge deficits.
GPE's PERCENT inflation rate is CARDINAL of the lowest in the world and CARDINAL the GPE rate.
Several NORP banks cut residential mortgage rates on DATE to levels not seen in DATE.
Gregory said he expected GPE to continue to outperform GPE on the rate front and that offshore investors recognised that.
""I think investors are coming to terms with the fact that NORP interest rates -- because of low inflation and improving currency prospects -- should be below GPE rates,"" he said. ""Many investors are jumping on that and the NORP dollar is undervalued. It's cheap.""
The NORP currency closed MONEY (MONEY) DATE after trading MONEY earlier in the session.
In stock trading, ORG's financial services group jumped PERCENT after soaring PERCENT DATE. Declining interest rates make bank lending more profitable and bank dividends more attractive for investors.
Soaring bank profits have also lured investors. The major banks report their DATE results in DATE and are on track for DATE of record profits.
Recent listings on ORG have given NORP banks a higher profile in GPE where they are considered cheap compared with GPE bank stocks.
GPE-based ORG issued a recommendation on CARDINAL NORP banks on DATE and predicted a strong fourth quarter for the entire group.","Stock in GPE's big banks tumbled on ORG on DATE after a NORP brokerage cut its recommendations on the high-flying bank group.
CIBC Wood Gundy, a unit of ORG, cut its ratings on CARDINAL of the so-called Big Six banks. GPE-based ORG, the smallest of the CARDINAL major banks, received the only buy recommendation.
""We are lowering our recommendations on the group of NORP bank stocks, moving from CARDINAL buys to CARDINAL buy,"" said ORG analyst PERSON.
NORP bank stocks have soared to all-time highs in DATE, with GPE's bank index up PERCENT in DATE.
But the group's valuation multiples are now averaging CARDINAL times book value -- closing the gap between NORP bank stocks and their GPE counterparts, ORG said in a report to institutional investors.
GPE's financial services group plummeted CARDINAL points, or PERCENT, in heavy trading on DATE.
ORG, which ORG reduced to hold from accumulate, fell C$MONEY ($MONEY) to C$MONEY ($MONEY) on CARDINAL shares.
ORG dropped C$MONEY ($MONEY) to C$MONEY ($MONEY) on CARDINAL shares after ORG recommended investors reduce their ORG holdings.
ORG, which was cut to accumulate from buy, surrendered C$MONEY ($MONEY) to C$MONEY ($MONEY) on CARDINAL shares. GPE's biggest bank is the group's valuation leader with a multiple of CARDINAL times book value, ORG said.
CIBC dropped C$MONEY ($MONEY) to C$MONEY ($MONEY) on CARDINAL shares. ORG did not assign a ranking to CIBC.
ORG sank C$MONEY (MONEY) to C$MONEY ($MONEY) on volume of CARDINAL shares after it was lowered to accumulate from buy.
""Of the CARDINAL largest banks, our top pick would remain GPE (Toronto-Dominion), since it is most likely to continue to exercise its share repurchase programme, even at current multiples, reflecting its superior capital strength,"" ORG said.
ORG fell MONEY NORP (MONEY) to C$MONEY ($MONEY) on CARDINAL shares despite having the only buy recommendation of the group.
But some stock strategists remained bullish on NORP banks. They said the group was still popular among foreign investors seeking to jump into the NORP market, lured by interest rates at DATE lows and a recovering economy.
""Foreigners are attracted to NORP investments and CARDINAL of the best areas they can participate in is the banking sector,"" said PERSON, an investment advisor with ORG.",1
"ORGamp; ORG on DATE secured victory in a battle for control of international exhibitions group PERSON with an agreed offer valuing the company at MONEY (MONEY).
The deal will create the world's largest trade exhibition group with a turnover of MONEY, based on DATE figures.
Media and financial services group ORG said it had already secured acceptances for PERCENT of PERSON after offering QUANTITY per share.
""The acquisition will be earnings-enhancing in DATE but the real attraction is the long-term growth we can get out by combining these businesses into CARDINAL group,"" ORG chief executive PERSON told ORG.
ORG shares added MONEY to MONEY after the announcement, while PERSON gained CARDINAL to CARDINAL.
NORP publisher ORG, which DATE acquired a PERCENT stake in PERSON, said it would not make a counter-bid and was likely to sell its stake. That decision effectively removed the threat of a bidding war developing for PERSON.
NORP-NORP media group PERSON had been regarded as a rival suitor to ORG but sources close to the company indicated in DATE that it had dropped out of the running.
The deal ends an on-off saga that began in DATE when PERSON said it had received a bid approach. In DATE it said that talks with an unnamed party had broken down but then made another statement DATE confirming a new approach.
Based on DATE figures, combined turnover and operating profit would be MONEY and QUANTITY, respectively.
Analysts said that PERSON's geographical strength in continental LOC, and GPE in particular, made it a good fit with ORG.
ORG's ORG subsidiary operates CARDINAL exhibitions in GPE, LOC and LOC but the NORP market is seen as its main strength. These exhibitions are supported by a range of trade publications.
PERSON operates CARDINAL exhibitions worldwide but does not have a significant publishing portfolio.
""The directors of ORG believe that ORG and PERSON trade show portfolios are highly complementary geographically, by market sector, and in terms of operational management,"" ORG said in a statement.
The acquisition is the ORDINAL major move by ORG since the national newspaper group merged with television and financial services group ORG DATE.
That merger doubled the size of the company, creating a NORP media major with a market capitalisation of MONEY.","Bidders for a stake in troubled NORP aircraft maker PERSON a.s. must offer MONEY NORP crowns (MONEY) for the shares, Industry and Trade Minister PERSON said on DATE.
But he told a news conference that the tender, open to domestic and foreign bidders seeking to revitalise the light jet maker, might be geared toward choosing a NORP partner.
DATE of Aero will be sold, depending on how many new shares are issued during the deal, rules for which the cabinet approved on DATE.
Dlouhy said a steering committee would evaluate bids in the tender, which is expected to open by DATE, based on bidders' economic strength, obligations to other shareholders and their strategic position.
The NORP chemical and arms conglomerate ORG a.s. has shown an interest in PERSON, as well as local trading company PRODUCT a.s., and ORG of GPE in an alliance with NORP airline PERSON a.s..
Dlouhy said Aero shareholders controlled by the state would pass their shareholders' rights to the new investor to allow it to manage the company from a majority position.
The winner of the tender, ultimately picked by the cabinet, should be known in DATE.
Dlouhy said strategic considerations might persuade the steering committee to pick a NORP domestic partner for Aero.
""If, for example, ORG submits arguments which persuade the commission that it is necessary... to prefer a domestic investor, it will be a criterion ... followed by the commission.
""But we do not want to consider it open only for domestic companies from the beginning,"" he said.
Shareholders of the debt-strapped company approved a cut in PERSON's basic capital DATE to CARDINAL crowns from CARDINAL, as part of an overall a financial restructuring plan. They also agreed to underwrite a rights issue to raise equity to CARDINAL and CARDINAL crowns as a part of the deal.
Aero is pinning hopes of recovering from financial problems on its flagship ORG, a light training subsonic fighter currently in its final stages of development, which is to be equipped with ORG avionics.
The NORP army has signed up to buy DATE, and the government has already approved a CARDINAL crown package clearing the heavily indebted company's books.
Other criteria approved by the cabinet include that Aero will not pay out dividends until production of ORG starts, and that the investor has to pay most of the price of the shares from his own assets, not on credit.
-- Prague PRODUCT, CARDINAL-2-2423-0003 ($MONEY NORP ORG)",0
"ORG unveiled its Internet strategy DATE and announced partnerships with retailers, oil companies and other companies to boost business over the global computer network and corporate ""intranets.""
""We feel very, very good about the Internet as a business and about where we are going,"" PERSON, the general manager of ORG's Internet division, said at a news conference.
The Internet unit was formed DATE and has become a key strategic business for the world's largest computer maker.
ORG is helping customers develop a wide range of electronic commerce applications, including an electronic trading system, an Internet retailing outlet, and a service for buying electrical power over networks. Revenues, however, will come from the usual sources of hardware, software and services as it fuels demand for its products and services.
""We will continue to make money the 'old-fashioned' way, by selling a lot more systems, software, services and solutions,"" PERSON said. ""By leveraging our core businesses, we can sell more of what we are good at.""
He was not more specific about what kind of financial opportunity the corporate networks known as intranets and the Internet represent for ORG.
But ORG expects the worldwide information technology industry to grow to MONEY, from MONEY, in DATE, with PERCENT of that growth driven by network computing, he said.
CARDINAL novel partnership ORG announced DATE was with ORG, the NORP conglomerate, for the electric utility industry.
ORG and ORG announced a service to let electric utilities use computer networks, including the Internet, to sell excess power transmission capacity. ORG and ORG is the ORDINAL customer.
ORG also announced CARDINAL additional new retailers which are joining its Internet shopping mall, called FAC, such as ORG's, LOC, Avante Jewelry and others. Consumers can purchase goods quickly and securely via the FAC service on the World Wide Web, the graphical portion.
ORG also announced ORG, a network-based service for the petroleum industry, with digital databases, maps, surveys, well logs, seismic data and other geographical and geological data, for all segments of the industry.
In another industry-specific application, ORG and partner ORG demonstrated its electronic trading system, called e.schwab, which lets customers request quotes, check account balances and execute trades on their Internet Web site, which runs on ORG's SP2 supercomputers.
ORG also touted ORG' PERSON software, which is the next version of ORG designed using Internet technology.
ORG said that PERSON is one of the ""jewels in its crown,"" that will be targeting the Web server software market, which market research company ORG predicts will reach MONEY by DATE.
Lotus Development President PERSON made several jabs at both ORG and ORG and their initial emphasis on the browser wars, but said the battle was moving to group-oriented software.
Papows quoted PERSON's co-founder PERSON as saying that in DATE the big war will be over groupware and e-mail. ""We think PERSON is right,"" Papows said, adding that whether they can take those markets by storm is the question.","GPE could list more railway companies and is studying a plan to create a fund to boost foreign investment in the sector, a railway official said on DATE.
The moves would be aimed at bringing in cash to help modernise the nation's huge rail system and fend off competition from planes and buses, ORG senior engineer PERSON said.
GPE's ORDINAL railway stock offer -- ORG -- was being watched for its performance as a possible model for future offerings, PERSON told ORG in an interview.
""If Guangshen is seen as successful, we could use the same method again,"" said PERSON, assistant director-general of the department for cooperation with foreign countries.
The Guangshen Railway links GPE -- capital of fast growing GPE -- with GPE, which borders GPE.
In DATE, the company's shares were listed in GPE and in GPE as ORG.  
The offer was only a modest success, managing to hold just above its offer price. The GPE shares were now trading at ORG ($MONEY) each compared with an offer price of HK$2.91.
""Any operations listed in the future would have to be making money and would probably be along the east coast,"" Zhang said.
The key was corporatising the regional railway bureaus under the ministry's supervision. So far, only GPE and GPE in the northeast have taken this step.
Another form of financing under study is the creation of a fund that could offer fixed income to foreign investors.
""This is still far off,"" Zhang said without giving details.
The railways have long been the backbone of GPE's transport sector, but are now facing new competitive pressure for both freight and passenger markets.
PERSON had to cut ticket prices as of DATE to compete with bus traffic. The move was expected to hurt revenue and has already pressured the company's share price.
GPE's railways carried CARDINAL passengers in DATE, down PERCENT from DATE, according to official media reports.  
Zhang said that overall GPE's railways were profitable, although some routes were losing money. And overall, profits were not keeping up with past performances.
""As of DATE, we have not been doing as well,"" he said without giving any figures.
Overstaffing was a key problem because the railway system has CARDINAL workers on its payrolls. But shedding jobs requires tough political decisions because unemployment is seen as a source of potential social unrest.
Government control over rail rates is also a problem. The ministry would like to raise rates but has little room to do so.
""This is a sensitive area,"" said PERSON.
The ministry is trying to speed up its trains, increase capacity and provide more comfortable passenger cars. It plans to expand electrified rail service to PERCENT of its capacity by DATE from PERCENT now.
New plans for electric locomotive production are under discussion, and GPE's ORG and GPE's ORG are among the top contenders.
Discussions are under way with GPE's PERSON for joint production of modern passenger cars, and plans are moving ahead for a computerised, nationwide ticketing service.  
""If we don't compete we will lose market share,"" said PERSON.
(US$MONEY = HK$7.73)",0
"A revolution in the treatment of HIV and AIDS is proving a godsend not just for patients but for drug companies which have poured MONEY into fighting the epidemic.
Cocktails of new and old drugs are resulting in dramatic improvements in both quality of life and life expectancy, with some patient groups forecasting that death rates from AIDS in LOC DATE could fall by PERCENT.
And as patients live longer and more people seek treatment at earlier stages of illness, drug companies like GPE's ORG are looking forward to a quantum leap in sales, with global turnover of AIDS and HIV products forecast to treble by DATE.
Analysts at ORG expect sales of AIDS drugs at ORG, which by a mixture of luck and good judgement holds CARDINAL of the cornerstone drugs for combination therapy, to soar to MONEY by DATE from MONEY in DATE.
PERSON, who writes for the influential NORP newsletter AIDS ORG, used by both patients and doctors, said: ""DATE has been DATE in AIDS treatment yet, and the effects are very, very tangible. People are going back to work after being very ill and that in itself is quite unexpected.""
ADVANCES REVIVE AZT
Advances have led to an extraordinary revival in the fortunes of ORG. The drug, also known as AZT, was launched with a great fanfare in DATE, but its erratic performance disappointed patients and shareholders alike.
Doctors have found that using PRODUCT, which stops the HIV virus from replicating, in combination with other treatments such as ORG PERSON, Hoffmann-La Roche's Zalcitabine and above all a new ORG drug called Epivir can radically cut levels of HIV in the blood.
And preliminary evidence suggests the addition of a whole new class of drug, known as protease inhibitors, to the cocktail can produce even more sensational results, with the virus brought below detectable levels.
ORG analyst PERSON said: ""Use of Retrovir alone had a relatively minimal and transient effect on CD4 cell levels (key cells which HIV destroys, undermining the immune system) and viral load. But in combination the impact on viral load and CD4 was nothing short of stunning compared to what we saw DATE.""
The progress has electrified an industry that DATE was mired in gloom over prospects for a breakthrough in treating AIDS. PERSON, PERSON antivirals product communication manager, said that when scientists, activists and drug companies met at EVENT in GPE, GPE, in DATE the atmosphere had been transformed.
""We were seeing that one could reduce the levels of the virus in patients' blood to undetectable levels,"" PERSON said.
For the moment ORG seems to have cornered the AIDS drug market, with ORG predicting sales of PRODUCT will double to MONEY by DATE and that sales of ORG, which ORG shrewdly licensed from GPE's ORG in DATE, will hit MONEY by DATE from MONEY in DATE.
But other companies are ahead of the NORP giant in developing protease inhibitors, the ORDINAL element in the cocktail, which block an enzyme crucial to the spread of the HIV virus within the body.
CARDINAL protease inhibitors are being developed, and ORGamp; ORG and ORG have all rushed versions on to the market DATE. The CARDINAL companies are cautious about giving sales figures, but anecdotal evidence from patient groups together with GPE sales data suggests that ORG's GPE is far outselling its rivals. Sales of this class of drug are likely to reach MONEY DATE.
NOTE OF CAUTION
But while there is understandable euphoria over the progress made to date, PERSON, director of health promotion at GPE's leading AIDS charity the Terrence Higgins Trust, said: ""We must be very cautious about saying everything is OK, we have got a cure."" She said the mix of drugs taken by AIDS patients carry a raft of side effects and enforce a strict and life-changing dietary regime and timetable.
The explosion in effective treatment also has serious consequences for overstetched health and insurance budgets.
The Terrence Higgins Trust estimates that costs to the NORP taxpayer in DATE of treatment with PRODUCT alone would be MONEY (MONEY). Treatment with a combination of CARDINAL drugs would bump this up to around 50 million. And if, as expected, more people are encouraged to come forward and seek treatment before they develop AIDS, this could rise to around 74 million pounds.
ORG said stories already abounded of patients being unable to get the drugs they need, either though lack of funds or ignorance on the part of doctors. AIDS support groups and companies, who cooperate increasingly, say they have to persuade governments that extended treatment with drugs is much cheaper than costly hospital care and dealing with the multiple complications of AIDS.
""We are all very hopeful,"" said ORG. ""It is looking good, but it really isn't over yet and we need drugs that are effective in the long term.""","NORP health and industrial gases giant ORG reported its best-ever set of DATE profits on DATE, dispelling some of the gloom which has settled over its share price in DATE.
BOC, CARDINAL of the world's biggest suppliers of specialist gases, saw profits surge PERCENT to MONEY (MONEY) despite problems caused by a stronger pound and a deterioration in the performance of its health-care business.
Sales climbed PERCENT to QUANTITY.
The outcome was at the top-end of analysts' forecasts, which had been pared down after BOC issued cautious noises about its CARDINAL non-core operations, health and industrial vacuums, along with DATE results on DATE.
Shares in the group, which have fallen from MONEY since DATE and touched DATE lows on DATE ahead of the results, climbd MONEY to CARDINAL in TIME trading.
Industrial gases, which are used in industries as varied as foods, chemicals, metallurgy and water purification, saw operating profits rise PERCENT to MONEY on sales up PERCENT to MONEY.
In an interview with ORG, chief executive PERSON said he expected profit margins in gases to improve by CARDINAL percentage points over the ""next three to four years"" from PERCENT achieved in DATE.
He said a major factor behind the improvement would be the huge increase in the number of DATE supply contracts BOC has won in the GPE, which entail building gas-making plants next to customers such as steel works in return for guaranteed sales.
The ORG health division, hit by continued falls in the price of BOC's once top-selling anaesthetic gas ORG and weak GPE demand for anaesthetic machinery, was the only BOC unit to see operating profits fall, dropping PERCENT to MONEY.
ORG said ORG would continue to have a difficult time in DATE but should turn in a flat performance for DATE as a whole, and ""...starting DATE this thing ought to start climbing.
The market had also been braced for a poor performance at FAC, whose machinery creates super-clean environments for industry, because of a downturn in the overcrowded semi-conductor market.
In the event the loose alliance of business known as vacuum and distribution posted a PERCENT gain in DATE operating profit to MONEY, although the gain in the DATE had slowed to PERCENT as the impact of a fall-off in semi-conductor orders started to bite.
ORG pointed to tentative signs of a pick-up in the computer industry, such as a rise in the DATE GPE industry book-to-bill ratio. Nevertheless he said the vacuum business ""will see a decline in profits DATE"", but did not predict its extent.
Uncertainty also remains over the impact of sterling, whose newfound strength ate into the gain in DATE profits, trimming their advance by CARDINAL percentage points to PERCENT.
PERSON warned that stronger sterling ""is bound to hit profits"" if it continues. ($MONEY Pound)",1
"ORGamp; ORG, a major new NORP cable operator formed on DATE from a group led by ORGamp; PERSON, has the potential to be competitive and focuses attention on the fast-growing area, analysts said.
""The logic is irrefutable...the advantages of scope and size are undoubtedly there,"" said ORG analyst PERSON.
ORGamp; ORG, ORG of the GPE and ORG announced they would merge the operations of their NORP subsidiaries in a complex deal, culminating in a float of PERCENT of the new company.
""That creates an integrated ORDINAL force, which will give ORG a run for its money,"" ORG said, referring to telecommunications giant ORG.
Shares in ORGamp; ORG closed up MONEY to CARDINAL, after touching a high of MONEY, while ORG gained MONEY to MONEY.
""It's a jolly bold and impressive move,"" said CARDINAL sector analyst.
The merger should result in quite significant cost savings, said PERSON of ORG, including tax offsets, refinancing of high-yield cable television funding and possibly through staff cuts.
""The new company can offer the complete range of services and it will be competing with ORG in the franchises which it operates,"" the sector analyst said.
Analysts added that the deal was expected to dilute earnings slightly in DATE but enhance them from DATE.
BT's shares edged down MONEY to MONEY as the market weighed the emergence of a new competitor.
But BT welcomed the consolidation in the sector, saying it would create a market ""where competition can become the natural regulator.""
Analysts said ORG's calls to be allowed to provide cable television, which the NORP government has so far rebuffed, could gain impetus from the emergence of ORGamp; ORG.
For other cable companies, the move has focused market attention, which had been flagging, back on the fast-growing sector, with stock market valuations now looking a little low.
""People are reassessing the value (of cable companies). There could be more consolidation. They have to respond,"" McFadden said, adding that calculations suggested a MONEY (MONEY) tag for C&W's ORG unit after the deal.
ORG shares jumped MONEY to CARDINAL, while ORG gained CARDINAL to MONEY.
The NORP cable market is growing fast, with CARDINAL homes now within striking distance of connections, as around six billion pounds has already been invested in building cable networks and a further CARDINAL is planned.
The new company will eclipse its rivals in terms of market share, with CARDINAL homes within reach, compared with its nearest rival, PERSON, with CARDINAL.
But analysts said it would not be in direct competition with other cable network companies as they mainly operated in different franchises.
Cable & ORG may flex its muscles in securing more favourable terms for programming from BSkyB, the satellite broadcaster in which PERSON ORG has a PERCENT stake, analysts said.
BSkyB shares were down CARDINAL-1/2p to 680p, after touching a low of PRODUCT.
""I think that is why BSkyB has come under pressure. People think the merged company might secure more attractive rates,"" the sector analyst said. ($MONEY Pound)","H&R ORG DATE reported a big loss for DATE, as its CompuServe online service posted a MONEY loss and became more of a headache to its parent.
H&R ORG had a net loss of MONEY, or MONEY a share, in DATE, compared with a loss of MONEY, or MONEY a share, in DATE. Revenues grew to MONEY from MONEY.
GPE-based H&R ORG, the nation's largest tax preparation company, blamed the bad news mainly on losses at its ORG unit, the world's ORDINAL-largest online service, which has failed to sign up new subscribers, especially in GPE.
H&R ORG still owns PERCENT of ORG, after selling the rest of the stock in DATE in an initial step to spin off the unit.
But plans to complete the spin-off were suspended in DATE after CompuServe reported poor DATE earnings and projected DATE losses.
DATE, shareholders and analysts were pushing for a spinoff, arguing that ORG's value was being held back by H&R ORG's staid tax business.
Now they want a spinoff because the online services provider is weighing on H&R ORG's performance.
""The business model changed for CompuServe in a fairly dramatic way and now ORG's valuation is clearly holding back H&R ORG's valuation,"" said PERSON, analyst at ORG.
""How quickly things change,"" said PERSON, analyst at PERSON. ""What happened was a whole lot of competition came in (to the online market.) The market became saturated before people expected.""
Analysts said H&R ORG was waiting for ORG's new business strategy announced DATE -- focusing on the corporate market rather than home users -- to push the unit toward profitability before the spinoff is completed.
H&R ORG also cut its DATE dividend to MONEY a share from MONEY, a move that it had previously said would occur after the spinoff was completed.
""Even though the separation has not been completed, the board decided such action was prudent at this time because CompuServe is not adding to the company's profitability,"" said PERSON, H&R ORG's president and chief executive officer and ORG's chairman.
""In taking this action DATE, the board is indicating it anticipates the separation of CompuServe.""
Both Romm and PERSON said they continue to rate H&R ORG stock as a buy and stressed that there was nothing wrong with the company's core tax business.
The company said its ORG unit reported a pretax loss of MONEY in DATE, up MONEY DATE.
""This DATE's deeper DATE loss in these core businesses is in large part a result of the company's investments to expand its office network and roll out new products,"" Salizzoni said.
""They're making these investments primarily in new stores that are absorbing costs primarily without any commensurate contribution in revenue,"" Romm said, noting that the tax season does not begin until DATE.
H&R ORG stock fell MONEY to $MONEY on ORG. CompuServe lost MONEY to $MONEY on ORG.",0
"Czechs cold-shouldered their newly-created ORG on DATE, turning out in record low numbers for elections which were supposed to be a key test for the minority government of Prime Minister PERSON.
The apathy suggested that the real winners might not be ORG's ORG (ODS) or the opposition NORP, but the far-right NORP who boycotted the ORG elections and told fellow NORP to follow suit.
Unofficial figures from the DATE ORDINAL round, which ended on DATE, indicated that turnout would be well PERCENT, by far the lowest in the CARDINAL parliamentary elections held since the DATE fall of communism.
Opposition Social NORP leader PERSON bewailed Czechs' apathy towards the upper house, but predicted that turnout would improve in the ORDINAL round on DATE.
""I think that no party can be happy with the low election turnout, because people that don't turn out for the ORG elections are giving up their civic rights, the right to vote, the right to decide,"" Zeman told reporters.
No national figures were available immediately after the polls closed at TIME (CARDINAL ORG).
But preliminary, unofficial data from some of the CARDINAL constituencies showed ORG's centre-right ODS doing well against a bleak background on turnout.
In the Western city of PERSON, turnout was PERCENT with the ORG candidate expected to face a NORP in the ORDINAL round, the NORP news agency ORG reported.
If no candidate wins CARDINAL the vote in the ORDINAL round, the top CARDINAL candidates go through to the runoff.
In the northern mining town of Most, turnout was PERCENT with the ORG candidate leading trade union leader PERSON, who is running for the NORP.
Pundits have billed the ORG elections as an indicator of whether GPE can break out of a political impasse following inconclusive lower house polls which stripped ORG's conservative coalition of its majority DATE.
But the apparent low turnout, which compares with PERCENT in DATE, seems a vindication of the NORP and their leader PERSON.
Sladek regards the ORG as a waste of time and money. ""They had nowhere to dump the political zombies so they established the ORG,"" he told a recent anti-election rally, adding that it ""would be lazy, useless and expensive"".
Conventional wisdom has been that if ODS did well in ORG might provoke early lower house polls to regain the coalition's majority. If ORG lost to the NORP, however, he could be forced to resign after DATE leading economic reform as finance minister and since DATE as premier.","ORDINAL seed PERSON and ORDINAL seed PERSON both went down to straight set defeats in the $MONEY NORP Indoor Open quarterfinals on DATE.
In the DATE's opening match, ORG lost CARDINAL-4 6-3 to GPE's PERSON, seeded ORDINAL in the tournament, while ORG was edged out by GPE's PERSON 7-6 7-6.
Ferreira, ranked ORDINAL in the world, never looked comfortable against PERSON, who was the aggressor for most of the match.
The DATE PERSON avenged his loss to Ferreira in the round of CARDINAL in GPE DATE, and said he took notes from that match onto the court on DATE.
PERSON managed to break ORG late in both sets, while the NORP failed to gain a single break point in the macth.
""In GPE Ferreira was dictating the points, serving very well and hitting forehands very well so today I tried to be very aggressive and when I had an opportunity, move forward,"" said PERSON, ranked ORDINAL in the world.
For ORG, the loss was especially painful since he could have gained valuable ground on Ferreira in the race for the final spot at ORG in GPE at DATE.
The NORP currently sits CARDINAL points behind the NORP, and a semifinal berth would have eaten CARDINAL points out of the lead, while a place in the finals would have cut Ferreira's advantage by CARDINAL.
Prinosil, ranked ORDINAL in the world, took advantage of a ORG double fault at CARDINAL-5 in the ORDINAL set tiebreak, and then jumped out to a CARDINAL-0 lead in the ORDINAL set tiebreak, a hole the NORP could not pull himself out of.
""I realise I didn't help my cause by at all, but we've got CARDINAL of the biggest tournaments coming up and I think whoever does really well in those events should probably play themselves into a position at Hannover,"" ORG said.
PERSON was helped DATE by PERSON recurring wrist injury which forced him out of the PERSON tournament after the ORDINAL round.
All CARDINAL players will compete DATE at ORG, where the winner will receive CARDINAL tour points, more than double the CARDINAL points to be awarded to the winner at ORG.",1
"GPE's ORG and ORG (NORP) on DATE unveiled an alliance to reunite the famous GPE hotel brand around the world for the ORDINAL time since DATE.
""We have been separated but now our companies are engaged,"" said PERSON, ORG's chief executive officer.
""This will make GPE the force to be reckoned with in the global hotel industry,"" PERSON told a news conference. ""It will eliminate customer confusion and benefit CARDINAL of our customers worldwide.""
PERSON owns the GPE name in GPE while Ladbroke holds the rights everywhere else through its FAC (HIC) subsidiary.
The CARDINAL companies have signed an outline agreement to unify the GPE brand, separated in DATE when HIC was spun off from the NORP operation. Ladbroke acquired HIC in DATE.
In the alliance grouping CARDINAL hotels in CARDINAL countries, ORG and HIC intend to cooperate from DATE on sales and marketing, loyalty programmes and hotel development.
Ladbroke also announced ORDINAL half pre-tax profits of MONEY (MONEY) before exceptional items, a PERCENT increase on DATE and above analyst forecasts. The interim dividend was unchanged at MONEY per share.
Ladbroke shares added CARDINAL DATE high of CARDINAL in early trade before slipping back to close CARDINAL firmer at CARDINAL.
The alliance gives ORG a larger presence in the international hotel arena. It offers Ladbroke a major position in NORP ORG and the chance to participate in the expansion of ORG's GPE gaming business.
The companies plan to finalise the agreement as soon as possible in order for it to become effective by DATE.
PERSON and ORG chief executive PERSON said the deal would be worth MONEY when cost savings and extra sales were combined.
Share analysts applauded the alliance.
""The PERSON tie-up is more extensive than people expected. We are expecting big things from DATE onwards,"" said PERSON of ORG.
NORP intends to acquire a PERCENT stake in ORG once the final agreement has been signed. Ladbroke has said it expects to invest significant sums in hotels and casinos developed by its partner in GPE.
""We're putting our money where our mouth is,"" said PERSON, a former ORG executive who joined ORG in DATE.
He said CARDINAL of his ORDINAL calls at ORG was to his Ladbroke counterpart George. The CARDINAL men subsequently met several times and even shared a holiday, rafting in GPE with their wives.
Under the deal, PERSON will join the ORG board while PERSON becomes a director of ORG.
The GPE hotel chain was founded in DATE when PERSON opened his ORDINAL hotel in the NORP town of GPE.
In DATE, PERSON became the ORDINAL hotel company to list on ORG. HIC was spun off in DATE and it was acquired DATE by ORG. ($MONEY Pound)","In an exercise dubbed by GPE as a ""democratic election with GPE characteristics"", this bustling territory goes to the polls on DATE. But CARDINAL citizens out of CARDINAL people in the colony will be voting.
A CARDINAL-member ORG formed under GPE's tight rein will be inaugurated in GPE with a DATE mission to elect the ORDINAL post-colonial leader and the CARDINAL members of a replacement legislature.
The committee, to be anointed by NORP Foreign Minister PERSON on his ORDINAL official trip to the colony, will set the tone of the government to rule GPE after GPE hands its NORP pearl back to GPE at DATE.
GPE, one of LOC's economic wonders, is to become GPE of communist-ruled GPE. GPE has pledged to maintain the territory's thriving capitalist system intact for DATE under the terms of GPE's ""CARDINAL country CARDINAL systems"" reunification policy.
Pro-democracy legislators attacked the leadership candidates in a debate on DATE for failing to address issues of human rights and democracy and called for a real general election.
Trade unionist PERSON told GPE existing legislature that a leading contender, shipping tycoon PERSON, was dangerous.
""Mr Tung is the most conservative among them, and he is the most dangerous as he calls on GPE people to be willing to be obedient citizens,"" PERSON said.
But a motion critical of the leadership selection was defeated by the pro-Beijing camp. Several NORP were absent on a lobbying mission to GPE.
""Democratisation is not like instant noodles... It took DATE for Western countries to develop their present democratic systems,"" pro-Beijing legislator PERSON said.
The sovereignty transition has been frought with disputes between GPE and GPE, between colonial governor PERSON and NORP envoys, and between GPE burgeoning democracy movement and a pro-Beijing political camp.
They have sparred over the future of GPE human rights, democracy and basic freedoms, over whether or not the commercial ""level playing field"" will continue, and over the survival of GPE autonomy and the rule of law.
But now, DATE before the sun finally sets on GPE's empire in LOC, attention is shifting to who will be running the show for GPE after Patten sails away.
In the ORDINAL round of the process on DATE, the ORG members will propose candidates for the chief executive who will step into PERSON's shoes DATE.
To enter the final run-off for the job, a candidate must be nominated by CARDINAL members of the committee on DATE. The committee meets again on DATE to pick the winner.
The leading candidates are all acceptable to GPE, sources close to the committee say.
In the forefront of the leadership battle are GPE and former chief judge PERSON. An opinion poll gave PERSON a CARDINAL percentage point lead over GPE in public popularity DATE.
PERSON and former appeals judge PERSON came a remote ORDINAL and ORDINAL, and CARDINAL other little known candidates scored PERCENT in the public's ratings.
However, it is not the public who vote, but the committee, and inside that body the real lobbying campaign is unfolding.
""We have a process which is laid down and I think it's clear the polls don't determine the winner,"" said PERSON.
The committee was formed in GPE DATE and is dominated by PERSON political and business groups.",0
"LOC executives and venture capitalists are turning into political sharks, spending MONEY to defeat a GPE ballot measure that they claim threatens NORP capitalism and could send stock prices reeling.
Normally the region, which is the birthplace of such industry stalwarts as ORG and ORG, is more obsessed with Internet software tools and microchips than with politics.
But so widespread is the fear that GPE's Proposition 211 could make the state a haven for shareholder lawsuits that once politically neutral executives have been jolted into action -- hanging anti-211 banners on buildings and encouraging employees to vote against the initiative.
Proposition 211 is a far-reaching measure that would eliminate certain safeguards and immunity currently given corporate officers and staff members. For instance, it would hold them liable if they made projections about future results and they turned out to be wrong.
Opponents of the measure fear that corporate officers would stop making any projections about how their business was doing, making it more difficult to make investment decisions and leading to a decline in share prices.
Proponents argue it will help victims of fraud recover losses. Opponents charge it is an ""insidious"" bid by securities lawyers to line their own pockets.
There were signs the campaign against CARDINAL could affect the outcome. A ORG poll published DATE found PERCENT of likely voters now oppose it, up CARDINAL percentage points from a similar ORG poll DATE.
ORG Chairman PERSON has urged GPE voters to reject the measure, warning it would use the state's legal system to roll back the federal Private Securities Litigation Reform Act passed DATE.
""GPE state courts could become a magnet for class action suits,"" he wrote in a letter of opposition.
Both President PERSON and NORP presidential rival PERSON have come out against the measure and a recent study said its passage could result in a loss of CARDINAL jobs and a MONEY drop in GPE domestic output.
The study, by trade economist PERSON, also projected a subsequent rise in ""frivolous lawsuits"" could result in as much as a PERCENT drop in stock market prices.
This, he concluded, ""would far outweigh the MONEY per dollar compensation, or less, that shareholders would receive from settlements and judgments"" under the measure.
High-tech companies are considered more vulnerable to shareholder suits because their stocks typically are owned by demanding investors seeking fastest-growing companies, which can make their stock prices more volatile.
A recent survey by ORG of its members found CARDINAL would consider leaving the state if CARDINAL passes. Some economists estimated it would eliminate CARDINAL jobs and cost MONEY in GPE alone.
Even companies outside GPE, like ORG and software giant ORG have opposed the measure, concerned that a single GPE shareholder could bring suit against them.
If it passes, high tech leaders like venture capitalist PERSON, who is leading the MONEY-plus battle against CARDINAL, and ORG PERSON, have said they expect outside company directors to quit.
""If it passes, my net worth, my house, will be on the line,"" PERSON said at a recent public debate on the issue here. ""It's a sleazy trick,"" he added.
Proponents of CARDINAL, including lawyers who bring shareholder lawsuits and stand to benefit directly from it, said they drew up the measure after a business-led initiative in DATE was opposed by PERCENT of GPE voters.
""NORP are disgusted by corporate greed,"" said PERSON, an attorney speaking in favor of the measure recently. ""People are angry about massive layoffs.""
But in LOC, where high tech businesses have thrived, executives said the proposition was more geared to forcing corporations to settle shareholder suits up front.","Former ORG executive PERSON plans to bring a counter-claim in a lawsuit against him by NORP bank ORG for repayment of a loan he is alleged to have received, his lawyer told ORG on DATE.
""He (PERSON) plans to bring in his own counter-claim into those proceedings and they will be heard together unless some sort of arrangement is reached beforehand,"" PERSON, a partner at GPE law firm PERSON said.
ING Barings DATE confirmed it was suing PERSON for MONEY ($MONEY), representing a QUANTITY loan allegedly given to PERSON when he was at ORG, plus interest.
NORP merchant bank ORG collapsed in DATE amid losses of MONEY run up by the unauthorised derivatives trades of GPE-based trader PERSON. It was rescued by ING which formed ORG as its investment banking arm.
PERSON is currently serving a CARDINAL-and-a-half year jail sentence in GPE for his part in the bank's downfall.
But the saga looks set to run on for some time, with writs filed by administrators of the bank against the former auditors and subsequent ORDINAL party proceedings being issued against former bosses, including PERSON.
PERSON said PERSON would contest the ORG case against him and his counter-claim would be for an unpaid bonus.
""He believes that the monies that he was promised by way of bonus remain due and are outstanding so yes, they will come into the equation in terms of resolving the dispute with ORG,"" PERSON said.
PERSON would not be the ORDINAL to attempt to force ORG to pay a bonus which had apparently been promised before the collapse of ORG itself and ING's takeover.
But ORG said the decision by a GPE industrial tribunal on DATE to reject a claim by another former ORG executive for an allegedly unpaid bonus had no implications for PERSON's case.
""It's a different case, it's for different sums of money and the circumstances are not the same,"" PERSON said.
PERSON, who was global head of equity financial products at ORG, had her QUANTITY claim, which she said she was told was ""set in stone"" by her former ORG bosses, thrown out by the tribunal.
PERSON declined to say how much PERSON's counter-claim would be for but said the sum was ""substantial"".",0
"The GPE judge in a class-action suit against tobacco groups DATE allowed CARDINAL of the pioneering case's lead smokers to take a back seat in the upcoming trial after he complained of intimidation.
PERSON, the lawyer pursuing the class-action suit on behalf of all ill and addicted smokers in GPE, said in GPE that PERSON had been one of the original CARDINAL smokers in the suit filed DATE but did not want to take a prominent role as a witness in a trial scheduled for DATE.
""He feels he has been greatly embarrassed and humiliated by investigators going out and asking neighbours and relatives and people he hasn't seen in DATE about him,"" PERSON said.
The lawyer gave no details in court, but said at a news conference DATE that private investigators working for tobacco companies routinely checked the backgrounds of people opposing them in court and potential trial jurors.
Rosenblatt asked ORG Judge PERSON to allow another smoker, throat-cancer victim PERSON of GPE, GPE, to be substituted for ORG.
Amodeo said DATE he began smoking at DATE, DATE before the health dangers of smoking were known, and that he has tried to stop smoking repeatedly. He still smokes and takes liquid nourishment through a feeding tube, since he can neither eat nor drink.
Rosenblatt said PERSON was not withdrawing from the suit, an option any ill smoker in GPE can choose, but would not act as a representive of the CARDINAL potential claimants PERSON has estimated his suit covers.
Reeves would share in money awards, if any, secured through the trial. The case appears likely to be the ORDINAL to come to trial of CARDINAL or more class-action suits filed by smokers against tobacco companies.
Rosenblatt claims that tobacco companies such as ORG, ORG, ORG and ORGamp; PERSON unit of ORG conspired for DATE to hide medical evidence damaging to their businesses and mislead NORP about the dangers of smoking.
A lawyer for ORG. Inc. said that allowing the switch DATE before trial was unfair.
The lawyer, PERSON, said he had no knowledge of ORG' complaints. ""I don't know anything about him being allegedly harassed,"" ORG said.","Debt-laden PERSON is awaiting the outcome of insurer investigations into the costs of the major fire aboard a freight train DATE.
Lead insurer ORG (ORG) said on DATE it was ""impossible to quantify yet the cost of the damage.""
""Up to now, there is no reliable estimate of the amount of damage caused by the fire on DATE in the south tunnel,"" it said, adding its maximum residual risk was MONEY (MONEY).
Eurotunnel said in a statement earlier that it will hold a press conference to update the situation on DATE.
The beleaguered tunnel operator also said the investigating judge had finished his inspection of the scene of the blaze, but insurers and company engineers were continuing to investigate.
The latest statements were made amid rife speculation on the cost of the fire, including unconfirmed reports of total insured costs of PERCENT (MONEY).
Current restrictions caused by fire damage are costing the group MONEY in lost revenue DATE.
Eurotunnel was also hit DATE by reports of possible claims from companies operating the ORG high-speed train service which runs through the tunnel.
ORG's NORP owners, the GPE and NORP Railways consortium, said there were provisions in its contract with ORG for reduced access charges if the tunnel was partially or fully closed.
ORG's spokeswoman said reduced access meant ORG (and possibly its NORP and NORP counterparts) could see ""a reduction to their payment.""
She reiterated that ORG is fully insured.
""The insurance should cover loss of business, the rolling stock, damage to the tunnel, compensation,"" she said.
The company declined to comment further at this stage.
CARDINAL source close to ORG said DATE that the cost of fire damage alone to freight and to the tunnel could run to MONEY.
""The cost will be MONEY) and could get into double figures, if you consider the damage to the CARDINAL wagons and a locomotive, plus severe tunnel damage,"" said the source.
The cost of replacing a whole train was estimated at around 25 million pounds.
A senior source close to ORG insurers told ORG on DATE that the cost of replacing rolling stock could be ""in the range of mid- to late-teens (of MONEY).""
Adding to uncertainty surrounding insurance cover was the possibility that any payout could be affected by suggestions that the train was on fire before entering the tunnel.
However, analysts seem confident the costs would be covered.
But some said the level of losses caused by the fire were belittled by the scale of ORG's total debts.
""In relation to ORG's other financial problem of MONEY (pounds) in debt anything else is incidental, even if the fire cost is CARDINAL at worst,"" CARDINAL analyst said.
Since the fire, ORG's shares have fallen from a close of MONEY on DATE before the fire broke out to CARDINAL by the close on DATE. ($MONEY French Franc) ($MONEY Pound)",0
"LOC largest gold producer, ORG, is negotiating with GPE's ORG to gain control of ORG huge Busang gold discovery in GPE, the companies said DATE.
Acquiring a stake in GPE would set PERSON well on its way to becoming the world's biggest gold producer, industry analysts said. It is currently ranked ORDINAL.
PERSON has become increasingly aggressive in moving toward its goal, analysts said. DATE, it acquired ORG including its promising GPE gold property in GPE, for MONEY.
The companies were negotiating under the guidance of the NORP government, which asked ORG to form a joint venture with ORG, ORG said.
GPE, GPE-based ORG discovered Busang, one of the world's biggest gold deposits, in DATE.
Official estimates of Busang have outlined QUANTITY of gold so far, but industry analysts have said that number could rise to QUANTITY.
""This is a result of ORG working very hard behind the scenes to circumvent ORG sale process,"" CARDINAL analyst said. PERSON has been seeking a partnership with a major gold producer to operate Busang.
To satisfy GPE, ORG would keep PERCENT of its stake and PERCENT would go to GPE-based ORG.
PERSON said the NORP government ""would appreciate it if the parties could consider a PERCENT participation being given to the NORP government.""
The NORP government wants ORG and ORG to reach a deal by DATE, or else the government ""will take steps to prevent a delay in the development"" of Busang, ORG said.
Development of Busang has been held up by disputes between ORG and its NORP partners over ownership of the discovery. PERSON, which controls PERCENT of GPE, said it asked GPE's ORG if other deals would be acceptable, but had not yet received an answer.
A deal between the CARDINAL companies was not a sure thing, ORG spokesman PERSON said.
With the NORP government guiding the Busang negotiations, ORG powers to negotiate a favourable deal appear to be curbed, analysts said.
""There have been some constraints imposed on ORG,"" said analyst PERSON at ORG in GPE. ""That's going to negatively impact on how much PERSON can receive for its interest.""
PERSON has an international reputation at stake and will have to be seen as treating ORG fairly, analysts said.
""Given the possible questions that may be raised over how PERSON obtained this special status, it will be essential that they are viewed as treating ORG shareholders fairly in any negotiations going forward,"" said CARDINAL analyst who asked not to be identified.
PERSON shares soared on the news, gaining MONEY ($MONEY) to C$MONEY ($MONEY) on ORG. They rose $MONEY to $MONEY on ORG.
PERSON shares fell in GPE before the news and held steady at C$MONEY ($MONEY), down C$MONEY ($MONEY) afterward. The stock has been volatile lately, clouded by the ownership dispute over GPE.
In DATE, PERSON -- already LOC largest gold miner -- produced QUANTITY of gold and had gold reserves totalling QUANTITY.","ORG lost a bid on DATE to freeze shares in ORG worth MONEY belonging to international mining financier PERSON.
The ORG had said that PERSON should be held responsible for environmental problems at a former gold mine in GPE, GPE. It requested an injunction on the shares until it could sue PERSON for MONEY in costs to clean up the GPE site.
But an ORG judge DATE shot down the ORG's arguments and scolded the agency for the ""nondisclosure and misrepresentations"" that he said riddled its case.
""The evidence has led me to the conclusion that the liability of PERSON is anything but clear,"" Justice PERSON of ORG general division said as he read his decision.
He ordered that the ORG shares be held by PERSON's lawyers until DATE TIME to give GPE a chance to apply for an appeal.
Lawyers for GPE would not say if they would appeal.
""This is the most devastating judgment they've ever had,"" PERSON lawyer PERSON said in an interview. ""This is just unprofessional.""
Friedland gained the ORG stock as part of ORG's takeover DATE of ORG, a company run by PERSON, which controlled the huge GPE's Bay nickel deposit in remote GPE.
In DATE, PERSON founded and ran ORG, the company that controlled the GPE mine and the firm the ORG said was responsible for the pollution.
The ORG wanted PERSON's assets frozen since it said it had a strong case against Friedland in GPE.
But the Ontario judge said the ORG's case was far from strong. The ORG failed to show that PERSON was directly responsible for any pollution in GPE, he said.
""In my view there are serious shortcomings in the case of GPE,"" he said.
More important, GPE did not present the court with the full and fair information required for an injunction, making it hard for the judges who granted the injunction to make a fair decision, the judge said.
""This is a serious departure from the fundamental integrity of the judicial process,"" he said.
A previous ruling from GPE ordered GPE to disclose all documents related to the case, not just the ones the agency had presented voluntarily.
Those documents showed the ORG had doubts about its ability to win the case against PERSON, the judge said.
""The extent of nondisclosure of GPE in this case is serious and fundamental.""
Galactic mined gold at the GPE mine in DATE, using open-pit heap leaching methods where ore is placed on top of rubber pads and then sprayed with a cyanide mixture. Cyanide leaked through the pads, threatening the area's rivers.",1
"World bankers and economic chiefs held GPE up as a financial showcase with a rosy future on DATE, but a clash of views between GPE and GPE over democracy augured a politically bumpy ride.
Speaker after speaker at a DATE ORG (IMF) meeting stressed the importance of the economic policies that allowed GPE to transform itself from an isolated island in LOC into a teeming metropolis dedicated to wealth, prosperity and commerce.
""The policy framework in GPE now and after the transition of sovereignty could hardly be better,"" IMF managing director PERSON said in his closing remarks.
And instead of a list of recommendations wrapping up the DATE's discussion of the difficulties hampering LOC's economic emergence, DATE ended with a challenge from ORG chief PERSON to return after the NORP-ruled territory returns to GPE on DATE.
Yam asked delegates to attend ORG DATE meeting in DATE to see for themselves that the ""CARDINAL country, CARDINAL systems"" policy guiding GPE transition to GPE was actually working.
""You will be able to see for yourselves that the dynamism of GPE has not and will not change,"" PERSON said, adding that the IMF's decision to hold its DATE annual meeting in GPE was ""a resounding vote of confidence"" in its future.
The IMF meeting will be the ORDINAL major gathering of world leaders in GPE following GPE's takeover.
CARDINAL delegates are expected at a venue still under construction. Encased in bamboo scaffolding, GPE new convention centre only recently gained a partial roof, testament to the territory's speedy construction methods.
The meeting is expected to provide GPE with a showcase for the handover, which was evident in less obvious ways at DATE's IMF gathering, too.
Departing colonial governor PERSON started DATE with a sideswipe at GPE, telling delegates that GPE economic success was due largely to its increasingly democratic government.
""The government has responded (positively) to that process and to the changes in aspirations which have accompanied it, by welcoming ever wider public participation in the process of government,"" PERSON said.
PERSON, the territory's incoming chief executive, ended DATE with a reminder of traditional NORP values of cooperation.
""Within our community of NORP countries we must forge cooperation through dialogue and understanding,"" he said in closing remarks.
To help foster this mood of cooperation, PERSON pledged to visit his NORP neighbours soon.
""As soon as possible, I hope to be able to visit our neighbours in LOC to extend my hand of friendship and cooperation.""
Yam cemented the DATE's upbeat handover theme with a reminder that, in economic terms, the ""CARDINAL country, CARDINAL systems"" policy was little more than maintenance of the status quo.
""Under these arrangements there will be CARDINAL country, CARDINAL currencies, CARDINAL monetary systems and CARDINAL monetary authorities which are to be mutually independent,"" he said.
""These arrangements are admittedly new but definitely not as novel and complex as EMU (ORG) with CARDINAL currency for many countries,"" he added.
But as a reminder that things are changing irrevocably after DATE of NORP rule, many of GPE colonial administrators were on their way home after seeing their careers cut short by ""localisation"".
Many expatriates were sailing on CARDINAL of the world's greatest cruise liners, the QE2 and the ORG, a dramatic reminder that an era is ending and that GPE itself will soon be sailing in uncharted waters.","GPE's banking sector crisis brought repeated calls for an upgrade of LOC's immature financial infrastructure at ORG meeting on DATE.
""LOC needs a stronger, more dynamic financial infrastructure,"" IMF managing director PERSON told the conference on financial integration in LOC.
The region's banking system has not kept pace with its economic development, and the speedy pace of economic reform has created an urgent need for an overhaul, delegates said.
""In many countries, in LOC and elsewhere, prudential regulation and supervision have not kept pace with the new complexities of the banking business,"" Camdessus said.
""If left unaddressed, this gap could pose dangers for domestic and external stability. Indeed, all countries must be vigilant about the strength of their banking systems, so that the monetary authorities can tighten policy when needed, without fear of aggravating banking sector problems.""
Asset quality problems forced GPE to intervene DATE to demand better provisioning by its banks. GPE was hampered in dealing with the situation by its monetary policy. Its currency, the baht, is pegged to a basket of currencies dominated by the dollar, but was under pressure from speculators who were encouraged by GPE's poor economic picture and weak financial sector.
Lower rates would have eased liquidity -- but would also have lowered the cost of borrowing for currency speculators.
Higher interest rates to ward off the speculators would have increased the cost of borrowing for the cash-strapped banks.
While most speakers stopped short of calling for regional banking regulation and supervision to prevent the same situation occurring elsewhere -- an idea mooted by GPE recently -- some experts recommended frequent and regular gatherings of central bankers and finance ministers.
""Most countries need to take steps to strengthen the official supervisory oversight of financial institutions and markets,"" said PERSON, managing director at ORG and a former president of the GPE and member of ORG.
Key to the debate are capital inflows, which have widened current account deficits across LOC with serious implications for external balances and interest rates.
PERSON warned that while many NORP nations with wide current account deficits have taken comfort from large foreign exchange reserves, the capital inflows responsible for much of their foreign exchange can evaporate TIME.
""Deregulation has also led to a greater exposure of credit and foreign exchange risk, and increased the danger of banks being inadequately capitalised with consequent incentives to offer above-market interest rates and engage in less prudent lending,"" said PERSON, a senior economist with the IMF.
The situation is becoming more urgent as more and more nations in the region seek financing for the sort of huge infrastructure projects on which their future depends, he said.
""The challenge is for many of these countries to address their infrastructure needs, including environmental requirements, without putting undue strains on public finances or on external positions,"" ORG said.
Although many NORP nations have successfully raised capital through privatisations, the amount of capital raised through privatisation in LOC was relatively small compared with LOC, he said.",1
"GPE copper futures, which have fallen steadily over DATE, will see further declines in DATE with fundamentals poor and domestic demand stable, analysts and traders said on DATE.
GPE copper has fallen from its record high of MONEY a tonne in DATE to the MONEY level, although it is slightly up on its lowest levels of below MONEY touched in DATE.
""The downward trend in copper prices is world-wide with the supply of copper rising fast due to higher prices DATE, while demand is increasing more slowly in line with the world economy,"" a local metals analyst said.
The analyst, who works for a financial markets consulting firm, said the current price trend could conceivably continue for DATE.
""From a long-term view, copper will not stop its downward trend until DATE as there is usually a three- to DATE cycle of prices on the world market,"" the analyst said.
GPE's domestic demand for copper is also stable due to the government's continued tight monetary policy in place since DATE to prevent the economy from over-heating, analysts said.
In DATE, GPE's consumption of copper was QUANTITY, about the same as the DATE level, local traders said.
""In GPE, a shortfall of QUANTITY of copper is expected in DATE,"" a local trader said. ""But if you include imports, supplies are sufficient.""
GPE imported QUANTITY of copper in DATE, up QUANTITY from DATE period, official figures show.
A local trader said GPE copper is likely to fall further to MONEY, possibly hitting a low of MONEY before DATE.
""In DATE, GPE copper will continue its steady downward movement, but it is possible for particularly sharp falls or rebounds in futures prices in certain periods of high speculation,"" he said.
""The recent rebound in prices both in GPE and GPE, triggered by falls in stockpiles on ORG, is a good example of such speculative movements,"" he said.
""Mature NORP speculators will not miss any chances to make prices fluctuate for profits,"" he said.
(MONEY)","GPE's B shares continued their sensational surge on DATE with GPE's index gaining PERCENT and GPE PERCENT as foreign and NORP investors poured funds into the markets.
Trading volume on the GPE B share market hit a DATE high of CARDINAL with the index ending up CARDINAL points or PERCENT at CARDINAL points.
Brokers said market sentiment had been boosted by the recent strong performance of the GPE B share market on expectations that GPE plans measures to boost B share trading.
The GPE B share index rose CARDINAL points, or PERCENT, to end at CARDINAL.
The GPE market has risen far further and faster than GPE in DATE, but dealers said there were signs that the action was now moving north to GPE.
""There's a feeling that foreign investors largely missed the boat on GPE and they don't want to miss out on GPE as well,"" said an analyst with a foreign brokerage in GPE.
ORG said that as a result of the heavy volume of trading, the company had DATE activated both its seats on ORG for the ORDINAL time ever.
""There were signs that overseas institutions are paying more attention to B shares,"" CARDINAL broker said. ""The short-term market trend is bright.""
But a ORDINAL broker said the sharp rises woiuld inevitably be followed by a tumble, possibly DATE.
""The market will see a technical correction after the sharp rise DATE,"" he said.
PERSON was the star on the GPE market, surging $MONEY or PERCENT to $MONEY on volume of CARDINAL shares.
ORG followed on bargain-hunting, soaring $MONEY or PERCENT to $MONEY on volume of CARDINAL shares.
A foreign broker said the money coming into the market appeared to be CARDINAL foreign and domestic NORP, in spite of the theoretical ban on local NORP investors buying the foreign currency B shares.
Given the obvious lack of measures by the authorities to revive the supposed ban, the markets appear to be gaining confidence that local investors will not face being forced out of the market, at least for now, analysts said.
""The bull run may extend into DATE with the inflow of fresh money continuing,"" CARDINAL broker said.",1
"Labour lawyer PERSON, refusing to concede defeat in the ORG union presidential election DATE after his opponent claimed victory, called DATE for a congressional investigation into the vote.
PERSON on DATE formally asked GPE Attorney General PERSON to impound the ballots and initiate an ORG investigation into ""serious irregularities"" in the election.
""We really have what I call Teamstergate,"" PERSON told reporters at a news conference DATE at the ORG' GPE offices, where his legendary father, the late PERSON, ruled the union in DATE.
Incumbent Teamsters President PERSON on DATE claimed victory in the hard-fought election, winning by an apparent margin of CARDINAL votes. But CARDINAL ballots were set aside for further eligibility checks, and PERSON says CARDINAL other ballots may have disappeared.
After all eligible votes were tallied TIME, court-appointed Election Officer PERSON accounted for CARDINAL ballots returned. But DATE she reported that the total number of mail-in ballots received was CARDINAL, an estimate based on receipts from ORG.
PERSON said he wants an explanation for the discrepancy between the ballots counted and the ballots received.
""If I lost, I lost. I just want a fair election,"" PERSON said.
PERSON, DATE, was ORDINAL elected president of the CARDINAL-member ORG as a reformer in DATE. His apparent re-election was lauded by ORG President PERSON, who had remained neutral during the campaign.
Meanwhile, ORG decided DATE to void CARDINAL PERSON votes after finding that a GPE backer and former officer of ORG Local CARDINAL in GPE violated election rules by collecting and mailing ballots for other members, according to her spokesman, PERSON.
Acting on a protest filed by PERSON's campaign DATE, PERSON said ORG decided it would be too extreme a remedy to void all of the local's ballots, estimated by the PERSON campaign at CARDINAL.
The ballots were among CARDINAL so-called challenged ballots that are still being checked for eligibility and have yet to be counted. Although there are enough of them to erase PERSON's lead, PERSON would need to carry the challenged ballots by a better than three-to-one margin for that to happen.
The election officer has not disclosed any interim results of the tabulation of the challenge ballots. PERSON said he did not know when the tabulation would be completed.
PERSON said DATE, however, that initial tabulations of the challenged ballots have cut PERSON's lead by CARDINAL votes. He did not disclose how many votes had been counted.","NORP venture capital firm ORG on DATE reported a rise in ORDINAL half net asset value (ORG) per share and revenue profits but said it had been held back by continental LOC and a strong pound.
CARDINAL's ORG for the period rose to MONEY per share, from MONEY in DATE, while profit before tax rose to MONEY (MONEY) from CARDINAL.
""Its a pretty healthy increase. Its held back a bit by continental LOC...the markets have not been that good and there has also been the appreciation of sterling,"" PERSON, CARDINAL's chief executive said in an interview.
ORG said a better indication of the group's performance was its NORP portfolio which had performed ""extremely well"", reflected in an PERCENT growth in revenue.
There were still plenty of opportunities available, he said, with the sort of companies that CARDINAL invested in doing very well.
There had also been an improvement in general business confidence in GPE, which had improved for DATE, according to CARDINAL's latest ""Enterprise Barometer"" survey.
Of MONEY invested by CARDINAL during the period, CARDINAL was in GPE.
ORG said the prospect of a general election in GPE by DATE, had resulted in a number of investment opportunities for CARDINAL as some company founders or management teams decided to sell their corporate holdings while the tax regime remained clear.
While the NORP performance had an impact on the ORG figure, the investment opportunities for CARDINAL on the continent remained good, ORG said. Current pricing levels for small and medium-sized NORP companies in which the group invests were ""very attractive"".
During DATE, realisation of investments continued at an encouraging rate, with sales worth MONEY in GPE and MONEY in continental LOC.
ORG said the group had ""significant plans to expand in LOC"" and this was reflected in its decision to open an office in the NORP city of GPE in DATE.
This regionalisation would also involve opening offices in CARDINAL other NORP cities -- GPE, GPE and GPE -- and the group also plans to extend its presence into the south of GPE.
The group said it wanted to open its ORDINAL office in LOC, in GPE, early in DATE.
ORG said LOC was ""an exciting part of the world"" for investment capital and GPE had been chosen as it was a good communication centre from which other parts of the region could be covered.
He said the office would look at opportunities in GPE, the GPE, GPE and GPE but not in GPE. ($MONEY Pound)",0
"NORP business leader PERSON has invited CARDINAL of GPE's top policymakers on GPE to visit the island, but GPE was tight-lipped on whether to accept the offer.
The invitation was offered to PERSON, director of the NORP cabinet's ORG, in a private capacity, a spokesman for ORG told ORG.
If PERSON accepted and NORP authorities allowed him to visit, he would be the most senior NORP official to set foot on the island since the end of GPE's civil war in DATE.
PERSON was quoted by the spokesman as saying he would be happy to visit if he had an opportunity, but there was no definite commitment to accept.
""If there was this opportunity, he would be very happy to go (to GPE). There is no definite concrete time,"" the spokesman said, speaking by telephone from the north GPE city of GPE.
In GPE, a spokesman for the cabinet-level ORG, which formulates GPE's policy towards GPE, said the council would be happy to see a visit by ORG but noted that procedures must be followed.
ORG declined to comment on the council spokesman's remarks. Earlier, the office denied NORP newspaper reports that ORG had accepted the invitation.
Kao is head of a delegation of nearly 80 NORP businessmen, economists and officials, who arrived in GPE on DATE for a DATE visit.
NORP President PERSON met members of the delegation on DATE and tried to reassure NORP investors, saying GPE would not allow political differences to stand in the way of trade and investment.
In his meetings with other NORP officials, ORG, vice-chairman of President Enterprises, had raised tax and labour problems faced by NORP investors in GPE, the delegation's spokesman said. President PERSON is GPE's biggest investor in GPE.
On DATE, ORG urged GPE to resume talks with GPE, saying the island's investors would lose confidence in GPE if political friction impeded ties.
The talks were suspended DATE after GPE President PERSON's landmark trip to GPE.
GPE has viewed GPE as a rebel province since the NORP government collapsed on the mainland and fled to the island in DATE. GPE insists GPE is not entitled to official links with other states.
GPE has stepped up pressure on GPE to lift a DATE ban on direct trade and transport links between the CARDINAL sides. DATE GPE unilaterally announced a set of regulations to pave the way for direct links.
GPE has banned direct trade, transport and mail links since DATE. Indirect trade and investment has been allowed since DATE, usually through GPE.
Many NORP business executives, who have poured MONEY into GPE, are eager for direct trade and transport, but GPE has been reluctant to remove the curbs, which it views as its last bargaining chip in talks with the communists.","GPE's exports climbed again in DATE as slow demand at home encouraged companies to ship abroad and the government expanded credit to exporters, newspapers and a government economist said DATE.
The upturn was expected to continue through DATE, said PERSON, a researcher with the cabinet's ORG.
Exports rose for DATE in DATE, jumping PERCENT to MONEY from DATE, said ORG, a newspaper published by ORG.
The performance helped the nation register its biggest DATE trade surplus of DATE. The surplus stood at MONEY in DATE compared with MONEY in DATE, the newspaper said.
""This kind of rebound in exports ... is estimated to last until DATE,"" ORG said in a telephone interview. ORG said slow domestic demand has forced manufacturers to look to overseas markets.
Also, domestic enterprises had adjusted to a cut in government-paid export tax rebates, he said. The government slashed the rebate on exports of industrial products to PERCENT from PERCENT on DATE.
ORG said exports rebounded because the government sped up the payment of export tax rebates and expanded credit to exporters.
Exports slumped in DATE, dented by rising wages and the relative strength of the currency.
A slowdown in government payments of tax rebates to exporters had also discouraged many firms from exporting their goods earlier in DATE. Many of those firms focused sales on the domestic market instead.
However, the government has been stepping up payment of export rebates to try to revive exports.
Imports inched up PERCENT to MONEY in DATE from DATE, ORG said.
The import data showed that the impact of this DATE's tariff cuts has gradually weakened, it said.
In DATE, GPE's exports totalled MONEY, mostly unchanged from the same DATE period, the newspaper said. But imports added up to MONEY, a rise of PERCENT from DATE period.
GPE, GPE and LOC remained GPE's largest export markets.
GPE's exports to GPE rose a year-on-year PERCENT to MONEY in DATE, the daily said. Exports to GPE and LOC increased PERCENT and PERCENT to MONEY and MONEY respectively.",1
"ORG is expected to report modest earnings growth for DATE despite tough comparisons with the DATE period and a sales slowdown ahead of an upgrade of a popular software package.
Industry analysts surveyed by ORG on average expect ORG to report earnings of MONEY a share for DATE, up PERCENT from MONEY a share reported DATE. Sales are expected to rise PERCENT to MONEY.
Analysts consider that a strong performance against tough comparisons with the DATE period, DATE of availability for the Windows CARDINAL operating system.
In DATE sales soared PERCENT and net income jumped PERCENT.
""These guys are just incredibly strong now,"" said PERSON of ORG in GPE, GPE ""They'll probably meet or beat (Wall) Street's estimate again.""
Investors will have DATE to analyse the results, which are due to be released after the close of trading DATE.
ORG executives originally had scheduled the release for DATE but decided to delay the report until DATE after an event publicising the launch of Office CARDINAL, its best-selling package of business software.
Analysts estimated that revenues of ORG and its component applications account for PERCENT of ORG's total, but the figure will be lower for DATE just ended because of the impending upgrade.
For much of the DATE ORG offered Office CARDINAL buyers coupons good for a free upgrade, which will result in some revenues being deferred into future reporting periods.
But strong growth in personal computer sales and in acceptance of ORG's high-end Windows NT operating system continue to buoy the company's profits.
""The ongoing strength of the NT cycle is what's carrying DATE,"" said PERSON of ORGamp; ORG. ""Countervailing that is the tough comparison DATE with the Windows 95 release, so it's a mixed scenario.""
Owen said that while sales of PCs to consumers were sluggish in DATE, declining prices and increased processing power had sparked a new wave of corporate buying.
He said PERCENT or fewer of corporate desktops have made the transition to the Windows 95 or Windows NT systems.
""That's a tremendous opportunity for ORG,"" he said.","PERSON ORG on DATE reported a lower than expected profit for DATE of CARDINAL, but later told analysts it remained confident of a PERCENT profit boost for DATE.
Strong earnings from the hit movie EVENT and buoyant NORP newspaper sales helped drive net profits before abnormals PERCENT higher to MONEY (MONEY).
But the result was below analyst forecasts of a pre-abnormals profit of MONEY.
""Everyone's a bit disappointed,"" said a ORG analyst.
PERSON, the head of equities at broker GPE, said: ""It certainly wasn't a startingly good result. The market has made its judgement"". News' shares fell MONEY to A$MONEY after the result, but closed in GPE at A$MONEY.
""It's MONEY less than what the market would have liked and to still reach that (PERCENT profit growth) outlook, it's got to make up the difference in DATE,"" the ORG analyst said.
ORG had said in DATE when it posted a MONEY net profit for DATE that it expected strong movie and television revenues to increase profits by PERCENT in CARDINAL.
ORG told analysts in a teleconference briefing on DATE after DATE result that it still expected PERCENT profit growth for CARDINAL.
""They did say that they're still on track for PERCENT growth,"" another GPE media analyst said after the briefing between company officials and GPE and NORP analysts.
Analysts said ORG officials were bullish about catching up in DATE and had pointed to a strong outlook for movies and GPE television and newspapers.
Operating income from News' ORG unit surged to MONEY for DATE of CARDINAL from MONEY DATE, due largely to EVENT.
Analysts said the re-release of Star Wars and other films would help further boost movie revenues in DATE.
NORP newspaper profits rose PERCENT in DATE, with gains in circulation revenues at The Sun, The Times and ORG said.
""All of the company's newspapers have maintained their dominant position in each of their respective markets, despite cover price increases instituted during DATE at both The ORG,"" the company said. Analysts said NORP newspapers would again perform well in DATE.
In contrast, NORP newspapers posted only a slight increase in profit in DATE reflecting a slow economy.
While ORG said losses at its burgeoning NORP satellite broadcaster ORG in DATE were in line with expectations. (A$=US$MONEY)",0
"Analysts said on DATE they were expecting GPE electronic business information company M.A.I.D Plc to launch new screen-based products that would rival services offered by real-time financial news services.
M.A.I.D declined to comment on a newspaper report that it was working on new online products that would undercut the prices of international news and information group ORG and financial news group PERSON.
The company's executives are on a roadshow in the GPE for DATE. But a company spokesman said: ""We never comment on market speculation regarding product development.""
ORG said M.A.I.D was poised to unveil a screen-based real time news service at sharply lower prices than services from ORG or GPE. Other products could include transmitting financial data to hand-held devices using mobile-telephone technology, the newspaper added.
Analysts had heard a deal was on the cards between ORG and NORP group ORG to start a mobile share price service and expected a similar deal with ORG.
Experts said they had also been waiting for ORG and ORG to launch more similar, rival services.
""I'm totally unsurprised at the article,"" said PERSON, analyst at ORG. ""ORG and ORG are going to be competing more in the future. Their products are going to become more similar, I think,""
Reuters Business Briefing, the ORG service against which ORG is expected to compete, offers mainly online business news and share price data at the moment, whereas PERCENT of ORG's data is market research information.
But analysts expect soon to be able to set up a customised service on ORG systems so that they are alerted to pre-selected requested headlines as stories appear on ORG's news services.
""I know they have been working on that,"" noted CARDINAL analyst who declined to be named. ""The big deal is having the alerts built in. The key thing about this is what they are going to charge for it in GPE...
""If they offer this new alert service for free then it's very hot and will make it very hard for anyone to compete."" Analysts expect ORG to tie up a deal with ORG, adding it to NORP news agency ORG and GPE services as well as direct links to other newspapers.
ORG, meanwhile, is branching out into market research.
Market research group ORG said it has signed a deal with ORG since ending a similar contract with ORG.
From DATE no Datamonitor research will be available on ORG anymore, a ORG spokesman said.
-- GPE PRODUCT +44 CARDINAL DATE","ORG will publish detailed proposals for its stock market flotation, including a preliminary valuation of the company, in DATE in DATE, director PERSON said on DATE.
PERSON told ORG in an interview that the document will be followed by a special meeting of members in DATE to vote on the approval.
But he declined to speculate on what value in shares each member would receive from the flotation, an amount which has been predicted at CARDINAL stg.  
Earlier, GPE announced record profits in DATE, making a pre-tax profit of CARDINAL, a rise of PERCENT over the CARDINAL seen in DATE. This excluded CARDINAL stg of non-recurring costs related to the flotation.
PERSON highlighted the fact that the business had continued to perform well during the conversion process which he described as ""onerous"".
""As CARDINAL of the most cost-efficient lenders, it's important for us to improve those efficiencies and we've done that,"" PERSON said. Cost to income ratio dipped to PERCENT at DATE compared with PERCENT at DATE.  
PERSON also pointed to the society's lending performance as a highlight of DATE.
Net lending jumped PERCENT MONEY stg, giving the LOC PERCENT of the GPE net mortgage market.
ORG said market conditions were improving. ""The general summary is that the market is looking slightly better than it did DATE. With a bit of luck, this will be a sustained rise instead of falling back or a boom.""
He said that if NORP interest rates needed to rise it would be better for the home lending market if this were to happen gradually.  
ORG said the LOC will not try and compete with GPE's large retail banks after its conversion in terms of the range of products they offer.
""I have no doubt that if we attempted to become an all-singing, all-dancing high street clearing bank we would be too small and we would get eaten up,"" he added.
PERSON rejected any charge that in the long-term, the society's members would be worse off because of conversion.
""What matters to customers is not the status of the company but the value of the packages they get.""  
ORG said that ""hairshirt"" mutuals who are trying to justify the maintanence of that status by effectively paying dividends to their members through deflating their profits will not be able to count on this strategy in the longer term.
""They don't have the profitability to go out and buy new customers,"" he said.
ORG said GPE cost to assets ratio of PERCENT compares to PERCENT for the top CARDINAL building societies. ""That means I've got a MONEY margin to play with. We can use some of it to improve profitability and some of it, frankly, to cherry-pick business.""
-- GPE PRODUCT +44 CARDINAL 8864",0
"ORG snapped a CARDINAL-session winning streak to close softer on DATE, depressed by weak gold stocks.
The ORG's key CARDINAL Composite Index lost CARDINAL points to end at CARDINAL points, in turnover of CARDINAL shares worth MONEY.
""We had a really nice DATE rally,"" said ORG analyst PERSON. ""You're bound to have some kind of correction.""
Gold bullion prices tumbled DATE in both GPE and GPE, pushing GPE's heavily weighted gold stocks into weaker territory. Some GPE traders were off for the GPE PERSON holiday.
Despite weaker golds, GPE stocks did not fall that far. ""Actually we didn't have such a bad day DATE,"" said PERSON president PERSON.
Investors are nervously awaiting comments by ORG Chairman PERSON on DATE, ORG said. ""The market's on edge.
PERSON is scheduled to testify on the state of the economy to a ORG committee hearing starting at CARDINAL EST/1500 ORG.
All of GPE's CARDINAL sub-indices lost ground except for oil and gas. The weak side was led by a PERCENT drop in golds, followed by media, transportation and forestry products.
Declining issues outnumbered advances CARDINAL to CARDINAL, with CARDINAL stocks unchanged.
Gold stocks were active DATE. ORG fell CARDINAL to CARDINAL on over CARDINAL shares. GPE's ORG Minister PERSON TIME gave ORG and potential partner ORG DATE to settle with their local partners in the huge Busang gold find.
PERSON's shares dipped CARDINAL to CARDINAL.
ORG closed up CARDINAL to CARDINAL after earlier hitting a DATE high of CARDINAL.
Oil firm ORG rose CARDINAL to CARDINAL, topping GPE's most active list on volume of CARDINAL shares.","International businessman PERSON said on DATE acquisitions by his ORG will slow considerably DATE after the takeover of GPE leading newspaper and other deals.
""I consider DATE a year of consolidation,"" ORG Chairman PERSON told ORG in a telephone interview.
But ORG's name came up DATE in GPE markets as the rumored buyer of ORG PERCENT stake in GPE's ORG.
Both ORG and ORG, whose separate, GPE-based firm also owns a PERCENT stake in the NORP title, denied a deal was in the works.
O'Reilly, best known in GPE as chairman of ORG , also acknowledged his company was keeping a close eye on NORP media group ORG .
PERSON, the NORP media tycoon who runs ORG , sold a PERCENT stake in GPE DATE after complaining about NORP limits on foreign ownership of newspaper companies.
Some press reports suggest GPE might sell a top newspaper or become an acquisition target.
""The situation there is fluid, very interesting,"" PERSON said. ""You can just say the PERSON are looking on with interest.""
News Corp Ltd chairman PERSON DATE sold his PERCENT stake in GPE and on DATE said he had lost interest in the company because of the foreign ownership ceilings. A native NORP, PERSON is now a GPE citizen.
ORG owns a PERCENT stake in the NORP regional newspaper company ORG, and DATE acquired a controlling PERCENT stake in ORGamp; PERSON in a deal valuing the leading GPE newspaper company at CARDINAL.",0
"After DATE of nervousness over its future freedoms, GPE watched on DATE for the outcome of a GPE gathering that will set the tone for the post-colonial government that takes over in DATE.
ORG of pro-China figures from GPE and mainland NORP officials was meeting in GPE for DATE to elect a CARDINAL-member caucus that will pick GPE ORDINAL post-colonial leader and parliament.
The exercise will quicken the pace of the NORP colony's transition to NORP rule in DATE time.
In the latest step in GPE's pull-out, Gurkha soldiers who were the backbone of the colonial garrison were set to bid a ceremonial farewell to CARDINAL of their GPE bases on DATE TIME.
GPE was jarred DATE by fears of a crackdown by GPE after the handover in view of the jailing in GPE of prominent dissident PERSON.
The colony was also unnerved by remarks DATE by NORP Foreign Minister PERSON, chairman of the GPE meeting, that freedom of expression in GPE would be limited after the sovereignty transfer at DATE.
On DATE, a further jolt came when GPE barred entry to CARDINAL GPE politicians who wanted to petition the GPE meeting against some of GPE's GPE policies.
On DATE more GPE activists were expelled from GPE.
On DATE the GPE meeting, a pro-GPE lobby group published a survey showing that most GPE businessmen expected press freedom, the political system and human rights to deteriorate after the handover.
PERCENT expected less press freedom, PERCENT expected the political system to suffer, and PERCENT saw a deterioration in human rights, the survey by ORG showed.
A leading candidate to become the future leader of GPE, former Chief Justice Ti PERSON, sought to allay fears DATE that the territory would be forced to accept tough, NORP-style laws on sedition after DATE.
""If you simply chant a few lines which do not incite any illegal acts, or which you don't expect to cause others to act radically, it should not be a problem,"" PERSON said on DATE.
But PERSON and CARDINAL other leading contenders for the top job were attacked by GPE leading democracy group for failing to condemn PERSON DATE jail sentence, saying they were ignoring local people's anger.
""They are not just angry about the fate of PERSON, what they are most worried about is whether LAW will become a tool to curb their freedom of speech after the handover,"" said PERSON, deputy head of ORG.
ORG make-up is expected to be announced on DATE. The body will meet in GPE DATE to select the Chief Executive who will succeed colonial Governor PERSON DATE.","Shipping magnate PERSON saw his fortunes almost dashed on the rocks in DATE when the family company met ill winds, but GPE bailed him out and now he is poised to become GPE next leader.
DATE, GPE's carefully screened ORG will choose a Chief Executive to run GPE after GPE hands its last important colony back to GPE in DATE.
Tung appears streets ahead of his rivals, having run away with CARDINAL of the CARDINAL votes in the ORDINAL round of balloting on DATE.
Behind him were retired Chief Justice PERSON, who scored CARDINAL votes, and businessman PERSON, who clocked up CARDINAL.
In the public's eyes, PERSON is slightly more popular than Tung, according to recent opinion polls.
Tung has been a senior member of a Preparatory Committee of GPE GPE notables and mainland GPE officials, charged with crafting the power structures which will replace NORP colonial rule.
Tung was lauded as an impartial and honest counsellor by Governor PERSON when he stepped down in DATE from PERSON's advisory cabinet, ORG.
The shipping tycoon resigned in DATE as head of his family firm, ORG, to make his leadership bid.
Tung's early campaigning consisted of clearing the decks of speculation that might lead to challenges on his integrity, such as how GPE had once saved his family from bankruptcy.
Tung took the helm of the business after his father died in DATE. He has publicly acknowledged that GPE had helped bail out the firm DATE by backing a MONEY investment fund for the firm, led by tycoon PERSON, a kingmaker in DATE's leadership contest. The family later bought back most of the company's shares and restored its control of the firm.
""In DATE and DATE we went through a very difficult time when the shipping business was in serious recession. PERSON led a syndicate of investment in our company,"" Tung said.
""I know there were mainland funds in it. I'm sure. To Mr Fok and those who have helped me...I am very grateful.""
Tung was spotted as a possible favourite of GPE when President PERSON singled him out for a personal handshake at a meeting in GPE DATE.
But Tung is believed to be acceptable also to GPE and to expatriate business leaders who hope he will form a ""dream team"" with incumbent Chief Secretary PERSON -- GPE top civil servant -- if GPE allows her to stay on after the flag change at DATE.
Tung has links with the powerful in key capitals -- GPE, GPE, GPE and GPE -- whose influence will be important for GPE evolution after DATE.
Born in GPE in DATE, PERSON was educated at ORG in GPE.
The DATE tycoon who has previously dodged the limelight, is said to lead a disciplined life. He was known for arriving at his office at dawn to perform tai chi exercises on the roof before starting work.
Despite a reputation for modesty, wisdom and caution, and strong ties to GPE, GPE's local power base may ultimately stir some unease in GPE. ""It is hard to see GPE favouring someone with a local power base, who really means to run the show,"" said legislator and lawyer PERSON.
Tung has made a point of tapping various views, including those of pro-democracy parties and trade unions.
But he has also made increasingly strident pro-China policy utterances. He accused PERSON of splitting GPE CARDINAL people through a speech that assailed GPE's plan to replace the elected legislature with an appointed assembly.
He has urged people to forget GPE's bloody army crackdown on the DATE democracy movement in GPE and to leave it to historians to judge the event.",1
"A MONEY deal between NORP Telecom Plc and ORG that would create the world's ORDINAL largest telecoms group looked set to be announced on DATE, sources close to the talks said.
BT said it had scheduled a news conference for CARDINAL ORG on DATE at its LOC headquarters following an earlier announcement that it was in merger talks with ORG
A spokesman said he could not say what the news conference would be about, only that it would be in connection with recent developments.
Executives from ORG and ORG were locked in separate board meetings on opposite sides of the LOC on DATE as they and their advisers attempted to stitch together the biggest deal ever in the rapidly expanding telecommunications industry.
ORG, the number CARDINAL GPE long-distance phone company, sent shock waves through the global communications industry on DATE when it said it was in talks about a takeover by ORG.
BT, the dominant player in the NORP market, has been building its overseas presence in DATE and already has a PERCENT stake in ORG. The CARDINAL also operate a joint venture known as PERSON which serves customers in CARDINAL nations.
Analysts are speculating on a price of $MONEY a share -- valuing ORG at MONEY and leaving ORG with a bill of MONEY to pay for PERCENT of ORG.
The deal would be the ORDINAL largest involving a GPE company -- topped only by the buyout of ORG by PERSONamp; Co.
A ORG spokesman confirmed that the ORG board was meeting over DATE to consider an anticipated proposal from ORG.
ORG's CARDINAL-storey corporate headquarters was a hive of activity on DATE as bankers, lawyers and advisers worked alongside the ORG board. A ORG spokesman said that the ORG board was also meeting in GPE.
BT and ORG have both said there are no assurances that an agreement will be reached or that any transaction will be consummated. They have said a further announcement is anticipated before the GPE stock market opens on DATE.
BT had unsuccessful merger talks DATE with NORP rival ORGamp; ORG -- a deal which would have created the world's ORDINAL largest telecoms group by revenue.
Any ORG/ORG deal would spawn a massive company with a market capitalisation of MONEY, just ahead of ORG -- the leading, but struggling, GPE phone company. It would still be some way behind NORP giant ORG -- the world's largest.
Analysts said a merged company would be a good fit in the ultra-competitive GPE long-distance phone industry where ORG and CARDINAL ORG have been battling NORP
Its critical mass would leave it excellently placed to expand into other international markets and new technologies -- ORG possessing the biggest Internet backbone in the GPE
""This is ORG worst nightmare,"" said consultant PERSON of ORG.
AT&T said late on DATE it was confident any ORG/BT deal would receive proper scrutiny by the GPE government.
""We would expect that our government would condition any such merger on the complete and unqualified opening of the telecom market in GPE,"" it said.
However, analysts regard the NORP market as broadly open to competition.
For its part, GPE's ORG (ORG) said on DATE it was too early to say what regulatory hurdles any merger would have to clear.
CARDINAL potential problem is a media joint venture between ORG and PERSON ORG would end up with ORG's PERCENT non-voting stake in ORG and this could cause regulatory difficulties in GPE.
NORP telecoms watchdog ORG recently banned a joint advertising campaign between ORG and satellite broadcaster BSkyB, a company in which ORG is the main shareholder.","Regulators took the ORDINAL of CARDINAL steps DATE to slash the cost of overseas phone calls for consumers and businesses, making it easier for GPE and foreign carriers to negotiate cheaper international rates.
ORG hopes to save GPE callers MONEY by backing up the new rules with a separate proposal to be unveiled DATE to cut the charges GPE carriers pay foreign phone monopolies to complete calls from GPE.
NORP spend MONEY a minute for a domestic call. But they must shell out an average of MONEY a minute to call overseas -- even though the cost of the calls are not much different, according to ORG officials.
""At MONEY a minute, you're not going to get a global information highway,"" complained ORG Chairman PERSON.
DATE's rules are targeted at countries whose own phone markets are open to competition from GPE carriers, or are in the process of opening. ORG officials cited GPE, GPE, GPE and GPE, as well as LOC and GPE.
Under the plan announced DATE, the ORG will waive rules that limit the ability of GPE carriers to negotiate cheaper calling rates with an overseas phone company whose own market is considered open. The rules were crafted to prevent market abuse by foreign monopolies.
PERSON, head of the ORG's ORG, said the new rules ""will allow competitive pressures, rather than archaic rules,"" to govern the telecommunications market.
ORG Vice President PERSON said they ""can lead to a significant reduction in the amount that NORP consumers pay for international telephone calls.""
Under the new approach, a company such as ORG -- with ORG approval -- could ask competing foreign carriers to bid for the right to handle AT&T phone traffic from GPE to a foreign market.
Alternatively, a GPE carrier could offer end-to-end service from GPE to a foreign market without using the existing rate system for completing calls.
Officials say these ""accounting rates"" run CARDINAL times actual costs, reflecting the power of state-run monopolies unexposed to home competition. GPE carriers paid their overseas counterparts MONEY more in DATE than foreign companies paid GPE carriers to complete calls.
While the accounting rates paid by both carriers are about equal, the imbalance reflects the fact that many more overseas calls are made from GPE than into this country.
International calls from GPE account for DATE of all international calls worldwide.
To reduce the rates, the ORG proposal scheduled for DATE would set ""benchmark"" rates for what GPE carriers could pay foreign carriers to complete calls. These rates, according to ORG officials, would better reflect actual costs.
The agency must still work out the details of how long a country would have to lower its rates and what steps could be taken if it refused to do so.
The ORG actions come as GPE is seeking to open overseas telecommunications markets through talks sponsored by ORG.
GPE has big rate imbalances with GPE, GPE, GPE, GPE, GPE and GPE, among others. DATE proposal is likely to ruffle feathers.
""There will be concern from countries around the world with the benchmark item. There's no doubt about that,"" said the ORG's ORG.",0
"ORG DATE offered to buy the rest of ORG for MONEY in cash and stock in a deal that would transform the GPE utility into the nation's top provider of electronic security services.
The move marks the latest step in Western's aggressive strategy to dominate the highly fragmented security industry, which has grown increasingly attractive to utilities and telecommunications companies.
GPE, ORG, which already owns PERCENT of ORG, said it would take its unsolicited bid for the rest of ORG directly to that company's shareholders. It also said it would call a special meeting of shareholders to replace the existing ORG board of directors.
""We have demonstrated our belief in ORG's future through our investment. The benefits of this transaction are compelling, offering a natural extension of our respective businesses,"" ORG Chairman PERSON said in a statement.
PERSON advised ORG of the offer in a letter in which he noted that ORG previously said it was not interested in a transaction with ORG.
""We firmly believe that this combination will provide significant benefits to our respective shareowners, customers and employees not available to either company on its own,"" PERSON wrote to ORG Chairman PERSON.
Western said it would pay $MONEY for each share of ORG, consisting of $MONEY in ORG common stock and $MONEY cash. The offer would give ORG holders a PERCENT premium over DATE's closing stock price of $MONEY on ORG.
Industry experts said the bid was deliberately low and merely reflected an opening salvo in a hostile transaction.
""The price is a low-ball price. There is a very good chance this deal will be done at a higher price,"" said PERSON, analyst at ORGamp; Co.
ORG shares climbed $MONEY to close at $MONEY on ORG on views that a transaction will take place at a higher price. ORG stock rose MONEY to close at $MONEY, also on ORG.
""I feel this stock will go to $25 to $MONEY on earnings in DATE. Anything below that range is not acceptable,"" said PERSON of ORG
GPE, Fla.-based ORG said it would review the offer and advised shareholders to await a recommendation from its board.
Long considered a leader in the electronic security industry, ORG DATE was to be acquired by ORG for MONEY in a deal valued by ORG at $MONEY a share. But the deal collapsed in DATE after DATE of uncertainty due to volatility in ORG's stock price.
In a telephone interview, NORP President PERSON declined to discuss a potential higher bid, noting only that shares of ORG have appreciated considerably in DATE.
""I think that what we're putting on the table is a fair and full price,"" ORG said.
Western Resources has spent much of DATE laying the groundwork to buy the rest of ORG. It opposed ORG's bid for ORG and has agreed to buy CARDINAL security properties DATE, including ORG security business for $MONEY in a deal announced on DATE.
DATE, ORG announced plans to sell its natural gas assets to focus on its electricity and security businesses.
Although ORG has long been considered a potential buyer of ORG, the company was not yet expected to pursue a transaction.
Wittig said ORG did not pursue an offer for ORG while ORG was bidding because Western was consumed with its hostile MONEY bid for ORG. That transaction is still not resolved, but ORG is holding merger talks with the GPE, Mo.-based utility.
""They've got a lot on their plate, but as far as wanting to run the electronic security business, this is the way to do it,"" PERSON said.
The electronic security business has grown increasingly attractive to utilities and telecommunications companies in DATE as they prepare to enter new markets that previously were off-limits due to government regulation. The phone companies and utilities hope to add protection to their menu of services and expand in homes and businesses.","The proposed union of ORG and ORG dramatically raises the stakes for survival in the defence industry, which already has experienced intense consolidation.
Global players, including ORG, ORG and ORG, are expected to seek partners in a new merger cycle.
""This has broken an uneasy truce in the defence industry,"" said PERSON, president of ORG, which specialises in aerospace and defence.
Although the pace of defence mergers recently has slowed from the booming levels of DATE, the ORG-ORG combination is expected to trigger a resurgence of deals, industry experts said.
""This transaction establishes a level of scale that is going to urge additional consolidation. It's clearly going to drive us toward, instead of CARDINAL or CARDINAL large firms, CARDINAL or CARDINAL mega-corporations,"" said PERSON, director of consulting firm ORGamp; ORG's aerospace and defence practice.
PERSON is viewed as a leading buyer of defence electronics properties. Shares of the company jumped MONEY on views that the ORG-ORG transaction may speed up its acquisition plans.
""All of a sudden, the scale of ORG has been diminished by this merger,"" said CARDINAL defence industry source who did not want to be identified.
Formed in DATE from a union between ORG and ORG, the company DATE bought the defence business owned by ORG for MONEY in CARDINAL of the biggest defence deals of DATE.
A spokesman for ORG declined to comment on merger activites, but noted that electronics was a growing part of the company's business.
""We have clearly embarked on a strategy of transforming the company from primarily an airplane builder to electronics,"" said PERSON.
Meanwhile, current defence leader ORG, which DATE bought ORG for MONEY, is viewed as well-positioned to compete against the new and larger ORG. PERSON said in a statement DATE that ongoing industry consolidation was vital.
""They've gone from being king of the hill to having to share it. They're in an extremely strong position,"" PERSON said of ORG.
The defence sector already has seen several consolidation cycles due to declines in federal spending. But those deals are dwarfed by the latest MONEY merger announced DATE.
Industry experts bidding was expected to intensify for attractive properties, noting that reported seller ORG was likely to benefit. Industry sources previously targeted ORG as a potential buyer of ORG.
A spokesman for ORG could not be reached for comment, but the company previously has said that it would consider acquisitions and consolidation. ORG is a unit of ORG
The ORG-ORG combination also was expected to trigger consolidation around the globe.
""This may set the stage for a whole new set of (buyers) from LOC,"" said PERSON, head of the aerospace division at ORG, who expects cross-border consolidation in LOC to intensify.
""The key dimension of defence DATE is scale. This business takes a huge amount of investment,"" PERSON said.",1
"ORG Chairman PERSON on DATE urged ORG to modernise GPE financial laws but warned that some government oversight must be maintained to avert financial catastrophes.
A top priority of regulators, PERSON said after a speech at ORG of GPE conference here, is to prevent ""systemic risk,"" where a problem in CARDINAL firm or market spreads through the financial system and ultimately undermines the entire economy.
If a bankruptcy or market crash cannot be contained, it could behave like a chain reaction spreading through all markets, he warned.
The failure of ORG in DATE, for example, raised fears that its collapse would cause a cascade of failures among large Wall Street firms and commercial banks that had lent funds to ORG. But the firm was liquidated in an orderly fashion and losses did not spread.
Using its existing authority to oversee banks and provide loans, ORG has been able to contain previous crises, PERSON said. ""There have been occasions when we have been on the edge of a significant breakout,"" he said, but declined to name the institutions involved.
The ORG's actions and other rules governing financial firms ""turned out to be adequate to stem the atomic erosion,"" he said, returning to the nuclear analogy.
""Regulation, by its very nature, becomes increasingly obsolete,"" PERSON said. ""Regulation imposed in an earlier period would be wholly or partly inappropriate for something that evolves at a later date.""
ORG is currently considering several bills to reform laws governing banks, which would affect the ORG, which is one of the nation's primary bank regulators. Legislators have also introduced a measure to modernise rules on derivatives, financial instruments whose value is based on the value of something else such as a commodity, stock or currency price.
""It is important for ORG to periodically review"" such laws, PERSON said. ""Regulators are required to do that.""
For example, in a recent review of Regulation Y, governing non-bank interests of bank holding companies, the ORG found that ""some of that stuff is just unbelievable because the markets have changed so much,"" the ORG chairman said, without elaborating.
If ORG alters the ORG's responsibilities, it should not strip the central bank of its ability to contain systemic risk, PERSON argued. ""Having seen the inner workings of these things, a lot of the things we do actually are quite effective,"" he said.
""I would be very chagrined to see some of these powers disappear ... I say that from someone who believes the less you interfere in the market, the better.""
Under one proposal before ORG, ORG would remain a primary regulator of financial institutions such as banks. But under other proposals, that authority could be divided among many regulators or entrusted to a new committee of federal regulators.
The ORG offered to provide loans following the stock market crash of DATE, for example, preventing a liquidity crisis that could have caused wider problems for the economy.
PERSON also appeared to side with ORG in its long-running dispute with ORG over the appropriate scope of GPE laws governing futures trading.
Under a DATE amendment to ORG, trading of foreign currency and certain other instruments is exempt from ORG oversight. But federal courts have made contradictory rulings about the scope of the amendment, especially as it relates to derivatives, and ORG is expected to deliver a ruling on the issue soon.
PERSON said ORG did not need to impose new regulations on trading of derivatives over-the-counter by sophisticated institutional investors. ""There appears to be no need,"" he said. Regulation under the commodity act ""seems an inappropriate framework,"" he added.
Even trading by less-sophisticated retail investors ""is more appropriately regulated"" by bank regulators and ORG, not the ORG, he said.
PERSON's comments were significant and could affect lawmakers' decisions when they consider related legislation, an ORG executive said.
""If you're going to vote on these issues and you've been kind of on the fence with respect to pro-market or expansion of ORG (ORG) power, etcetera, I have to believe that his comments influence that person who's on the fence,"" said PERSON, chairman of ORG.
""So if you're looking for a Good Housekeeping seal of approval, he just sort of stamped it on those who are looking for such a thing,"" PERSON told reporters at a briefing.","In yet another sign that utilities are branching out far beyond their traditional markets, ORG and ORG on DATE announced a marketing alliance aimed at boosting customer loyalty in an increasingly competitive industry.
Under the venture, customers of ORG subsidiaries ORG and ORG will be offered a security system from regional alarm company Protection One.
The unusual alliance is viewed as the ORDINAL of many creative ventures in an uncertain era of utility deregulation.
""This is the start of what is going to happen all over the place. It's a whole new business that will coattail on the aggressive nature utilities are starting to take. CARDINAL-stop shopping is becoming key from a marketing position,"" said PERSON, manager of utilities and energy industries at ORG.
Utilities are becoming increasingly attracted to security companies as they prepare to enter new markets that previously had been off-limits due to federal regulations. In DATE, utilities have bought security firms or made large investments in them.
""We're looking for new products and services that we can bring to our customer base as a way to build loyalty and ultimately build preference with our residential customers,"" said PERSON, consumer products manager at ORG.
""We've been looking at different ways of entering the home security business for DATE,"" she added.
The alliance will give Protection One instant access to the CARDINAL customers served by the ORG subsidiaries and extends its reach to GPE. Previously, the regional security firm served CARDINAL western states.
At a recent conference on mergers in the security industry, Protection CARDINAL officials declined to discuss potential revenue from the alliance, but noted that capturing even PERCENT of ORG customers would be significant.
Customers accepting the offer will receive free installation of a home security system with the purchase of a DATE agreement for monitoring services.
The security system's alarm panel also will hold thermostat and lighting controls and remote access.
The alliance is expected to be just the ORDINAL step for ORG, which is trying to take advantage of new opportunities that are emerging from deregulation of the utilities and telecommunications industries.
""We think this is the ORDINAL of quite a few announcements we'll be making in DATE,"" Protection One Chief Financial Officer PERSON told ORG at the recent security conference.
The alliance re-establishes a link between the CARDINAL companies that was dissolved DATE. Protection CARDINAL began as a subsidiary of ORG in DATE, but the alarm company split off in a management buyout DATE. Protection One then became a publicly-traded alarm company in DATE.",0
"Genetically-altered soybeans at the centre of an international environmental furore are causing little concern in GPE, a major soybean importer with its own bio-engineering programmes, industry sources said on DATE.
""GPE is a very public and vocal supporter of our technology,"" said a source at ORG, the developer of the ORDINAL genetically-altered GPE soybeans.
""The NORP have been heavily involved in their own programmes to produce insect-resistant cotton and genetically-altered soybeans, corn and rice,"" the source in GPE, who spoke on condition of anonymity, told ORG.
ORG has been targeted in GPE and now in LOC by environmental groups opposed to genetic engineering.
The soybeans have been developed with a resistance to a widely-used weed killer called ORG, also a ORG product.
""I would think they would be very happy in GPE to get their hands on some of this product if they are pest-resistant,"" an industry executive in GPE said.
""They have a lot of their own problems with insects, especially in their soy and corn crops,"" he said.  
The ORG source said NORP research, while a good decade behind his own company's, mirrored ORG's efforts at developing pest and insecticide resistant crops.
""So I wouldn't expect there to be any concern in GPE about this product,"" he said.
He said ORG was negotiating for co-operative projects in GPE, but would not give further details.
Greenpeace and other environmental campaigners were preparing on DATE to picket the arrival in GPE of a ship believed to be carrying some of the ORG soybeans.
Greenpeace activists in GPE, however, said on DATE that despite concerns, they had no plan to campaign against the sale of the genetically-altered beans in LOC.
""The problem is we don't know what form it is in -- in powder form, in animal feed, mixed into hamburger meat -- so we have no way of knowing if we are eating it,"" said PERSON, spokesman for ORG in GPE.
""The beans have not been extensively tested before being made available to the public so we don't know what we are doing to human or animal bodies,"" he said.
Other than providing information on request, ORG had no plan of action against the beans in LOC, PERSON said.  
The beans have been approved for use in GPE, the biggest buyer of GPE soybean products, the ORG source said.
User-groups in other countries, such as ORG, have also said they will use the genetically-altered GPE soybeans.
Grain traders and industry executives in LOC said they had received no expression of concern from potential buyers in the region about the altered soybeans and did not expect to.
""They represent a very small proportion of the GPE crop at this stage,"" a grain trader in GPE said, adding the beans could account for PERCENT of the total GPE crop in DATE.
The GPE soybean crop, now PERCENT harvested, is expected to be QUANTITY, according to ORG. Of that, QUANTITY will go to export markets.
While not among the biggest customers for GPE soybean products, GPE is expected to buy QUANTITY of beans in calendar DATE, and QUANTITY of meal.
-- GPE newsroom (CARDINAL) 2843-6470","ORG DATE said earnings rose PERCENT in DATE, boosted by strong demand for new phone lines from people setting up businesses or hooking up computers at home.
The results were in line with expectations, but ORG's stock jumped as investors cheered the report from the nation's largest local telephone company, as well a court ruling late on DATE that suspended key parts of federal rules designed to foster competition in local phone markets.
Other local phone company stocks also rose after the ruling by a CARDINAL-judge appeals court panel in GPE. The judges said they had ""serious doubts"" about ORG authority to impose its pricing policies.
The ORG rules, among other things, would require the PRODUCT and other local carriers to lease their phone lines to new competitors at steep discounts of PERCENT.
Analysts said state regulators were likely to call for lower discounts. The appellate panel put the new rules on hold while it considers a court challenge to the ORG's plan.
The challenge to the ORG rules had been spearheaded by ORG, which was joined by some of FAC, other local carriers and state regulators.
""(The legal challenge) improves the probability for getting higher prices to resell local networks than under the ORG guidance,"" said PERSON at brokers ORG.
ORG jumped MONEY to $MONEY in consolidated TIME trading on ORG.
Other ORG stocks that rose included ORG, up $MONEY to $MONEY, ORG, ahead $MONEY to $MONEY, ORG, which gained $MONEY to $MONEY, GPE, up $MONEY to $MONEY and ORG, which added MONEYMONEY, all on the ORG.
In its report, GPE, Conn.-based ORG said net income rose to MONEY, or MONEY a share, in DATE, from MONEY, or MONEY a share, in the DATE period.
The results matched analysts' forecasts of MONEY a share, according to ORG, which tracks estimates. The DATE figures included a gain of MONEY, or MONEY a share, from the sale of secondary telephone properties.
Sales grew PERCENT to MONEY from MONEY.
In addition to strong line demand, ORG cited growth in its cellular and long-distance services.
""The continued pace of our revenue growth, driven by record line growth as well as strong demand for new and enhanced services, is particularly encouraging,"" Chairman PERSON said in a statement.
The number of domestic access lines grew PERCENT in DATE, with CARDINAL the growth in the residential side of the business from additional lines to the home, ORG said.
ORG said its number of cellular customers grew PERCENT in DATE, while cellular revenue surged PERCENT.
It also said it doubled its number of long-distance customers to CARDINAL from DATE.",0
"CARDINAL major shareholders in GPE's ORG have set a DATE deadline to resume their court action to block a MONEY takeover bid by ORG if negotiations to settle the dispute fail.
""The preference is to resolve this as quickly as possible,"" said PERSON, a spokesman for ORG which owns PERCENT of Altamira.
""If it has to come to that (a court battle) -- sad as it may be -- it still has to be considered. But the ideal solution is a negotiated one,"" he said in a telephone interview.
GPE-based NORP, GPE's biggest insurance company, has offered C$MONEY a share for Altamira, the country's CARDINAL-largest mutual fund company.
The battle for Altamira took a surprising twist on DATE when GPE investment firm ORG launched a rival C$MONEY a share, or MONEY, bid for the NORP mutual fund company.
Manulife already owns PERCENT of GPE and has the support of a group of CARDINAL Altamira fund managers who are shareholders of Altamira.
But the bid is opposed as too low by GPE-based GPE and a group led by Altamira Chairman PERSON which holds PERCENT of Altamira.
The lawsuit launched by GPE and GPE's group DATE was scheduled to proceed DATE in an GPE court. But the feuding parties agreed to try and negotiate a settlement.
Leckner said on DATE that those talks have not yet begun. The court action is set to resume on DATE.
ORG is one of the largest private equity investors in GPE.
""We believe that our proposed transaction serves the purposes of all of the parties, and, more importantly, is in the long-term best interests of the unitholders of the Altamira funds,"" WORK_OF_ART, ORG manager director, said in a letter to Altamira shareholders on DATE.
He said the offer was made on behalf of private equity partnerships managed by the GPE firm and other institutional investors.
Under the terms of the offer, ORG would have to agree to release the group of employee shareholders from a promise to tender their shares to its offer.
""We do not believe that this highly tentative proposal justifies any delay in implementation of the transaction we have agreed upon,"" Manulife said in a statement on DATE.
Altamira manages GPE's biggest no-load mutual fund with MONEY in mutual fund assets.
Manulife is the country's largest insurance company with MONEY in assets.
-- ORG (CARDINAL) 941-8100","A NORP court on DATE took TIME to reject the appeal of dissident PERSON and uphold an DATE prison sentence for subversion, his mother said.
The verdict came DATE before the scheduled arrival of GPE Secretary of ORG PERSON, who diplomats say was expected to raise human rights issues in his meetings with NORP leaders during his visit.
Angry family members staged a TIME sit-down protest in front of the Beijing Higher People's Court after the court rejected ORG's appeal against his conviction, she said.
""It (the verdict) was all prepared in advance,"" PERSON told ORG in a telephone interview.
""I'm very angry. It was very unfair,"" she said. ""The (appeals) court just copied the verdict of the ORDINAL trial.""
The DATE dissident was not allowed to speak at his appeal hearing as a judge read from a brief, prepared statement, the mother said.
PERSON was convicted of plotting to subvert the government by publishing articles in foreign publications and receiving funds from hostile overseas organisations.
The mother said she would petition the appeals court but that it would be a formality and would not involve the court holding another trial.
Court officials, reached by telephone, declined comment. The tightly-controlled state media made no mention of ORG's conviction.
Police earlier kept reporters away from the court building, the family's home and nearby subway stations.
The dissident, wearing a red sweater and grey suit, appeared in low spirits and poor health, the mother said.
""(But) he was psychologically prepared. It came as no surprise. He does not have any illusions about them (the authorities),"" she said.
The former student leader had already served DATE in prison for his role in student demonstrations for democracy that were crushed by the army in DATE.
The GPE secretary of state, scheduled to arrive on DATE, was likely to bring up human rights when he meets NORP leaders.
NORP-U.S. relations have been strained over DATE by issues ranging from human rights to GPE to arms proliferation and trade.
GPE has slammed NORP criticism of its human rights record as interference in its internal affairs.
Former NORP prime minister PERSON said in GPE on DATE that the world was dismayed by harsh sentences slapped on ORG and fellow dissident PERSON, the father of GPE's modern democracy movement.
The jailing of ORG was the latest in a series of crushing blows to GPE's struggling democracy movement. Most dissidents have already been forced into exile or are serving long sentences in prison or labour camps.
GPE has said ORG's trial DATE by a lower court was open and fair but the GPE-based Human Rights in GPE said no foreign reporters, diplomats or other international observers were allowed to attend.
Human Rights in GPE has denounced the trial as a ""secret trial"" on a trumped up charge. The lower court took TIME to convict and sentence ORG on DATE.",0
"ORG Chairman PERSON on DATE warned the computer industry of a backlash against the Internet as confusion and feuding reigns among corporate rivals.
""A lot of what has gone on is just plain confusing,"" PERSON said in a keynote speech at the Internet World trade show in GPE. ""I wouldn't be surprised to see an Internet backlash soon.""
He said industry wars over Internet browser software, programming languages, hardware and continuing hype may contribute to corporate and consumer disillusionment about the Internet.
""As an industry, we are not shy about telling people how beautiful our babies are, long before they are born,"" PERSON said, adding that customers have to sort out the hype and ""food fights"" by sparring companies.
Gerstner said many were wondering where money is to be made on the Internet amid what he characterised as hype that seems to be leaving out customers and their needs.
""People ask 'Is there real money to be made on the Internet?' and I say, 'Yes there is,'"" PERSON said, adding that money will be made by companies that can solve customers' problems and make it easy to do things like banking on the Internet.
Gerstner said ORG's approach to the Internet was to work closely with customers and develop the products they need, such as its work with the discount brokerage PERSON, which now offers stock trading over the Internet.
""PERSON expects to capture as many customers with the Internet over DATE as they have over DATE,"" PERSON said.
One of the industry ""food fights"" that PERSON singled out was ORG Corp.s effort to develop software based on ORG PERSON language to design programmes that only run on ORG's Windows operating system.
The Java language has been much heralded in the computer industry because of its ""write-once, run-anywhere"" capability, which lets programmes written in PERSON run on any computer system. Because of this feature, PERSON has become a popular programming language for the Internet and networked computers.
""Let's not blow this,"" PERSON said. ""Let's not do to PERSON what the industry did to Unix,"" the high-performance operating system which splintered off into CARDINAL versions.
At Internet World on DATE, ORG unveiled an alliance with ORG and other major companies, which are all backing a move to standardise and certify CARDINAL version of the Java language.
""PERSON is taking his guidance from customers and not from industry conflicts,"" said PERSON, an industry consultant based in GPE, GPE ""He did a lot to de-hype the industry.""
Gerstner also reiterated his plea that the industry make things easier for users. He showed a video of ORG's voice recognition technology, which enables computer users to give simple commands to surf the World Wide Web.
He said ORG's voice recognition software for the Internet is now available in beta, or experimental form, and that users could download it for free, starting DATE, from ORG's Web site, http://www.ibm.com.","ORG Justice PERSON refused DATE to reinstate landmark federal rules aimed at prying open the nation's MONEY local telephone market to full-fledged competition.
Thomas let stand, without comment, a GPE appeals court order suspending key parts of ORG ""interconnection"" rules. The ORG, long-distance giants ORG and ORG, and other phone companies had asked PERSON to restore the rules, but he rejected the request.
The ORG and the long-distance companies immediately submitted a new request for the high court to lift the lower court's ""stay."" The matter is expected to be taken up by the entire ORG for consideration. In the meantime, deregulation of the nation's local phone monopolies remains in legal limbo.
The ORDINAL ORG, based in GPE, issued its stay on DATE while it considers a challenge to the rules, which spell out how long-distance carriers, cable-TV operators and others can link up to the local phone market under the new telecommunications law. Oral arguments are set for DATE.
ORG, the ORG phone companies, other local carriers and state regulators want to overturn the rules, saying the ORG overstepped its authority and usurped state powers to issue policies on pricing and other matters. Local companies and state regulators had requested the stay.
""We're gratified that the court declined to lift the stay. We are anticipating that the appeals process (against the ORG rules) will go forward and we think that is the right decision,"" said ORG spokesman PERSON.
The ORG and the long-distance companies had told the high court the stay ran counter to the telecom law and would hurt consumers by delaying the introduction of competition in the local market.
PERSON oversees appeals from the GPE-based appeals court.
The ORG rules, adopted in DATE, are intended to serve as a guide to negotiations between local phone companies and new rivals seeking to enter the local market.
They also are intended to serve as a reference for state arbitrators overseeing stalled negotiations.
The ORG rules, among other things, require the ORG and other local carriers to lease their phone lines to new competitors at steep discounts of PERCENT.
With the stay in place, state regulators will hold sway in determining what pricing and other policies will apply to the interconnection agreements between the ORG and ORG and new market entrants. Regulators in several states already have begun to issue preliminary arbitration agreements.
PERSON, an analyst at ORG, said the decision to leave the stay in place throws the process of telecommunications deregulation into uncertainty.
""It decentralizes the deregulation process down to the states and injects a lot of potential uncertainty over time,"" he said.",0
"GPE's biggest brokerage, ORG, posted a hefty DATE loss on DATE but other ""Big Four"" brokers turned in handsome profits due to improving business on the nation's stock market.
ORG suffered a net parent loss of MONEY in DATE after ploughing large amounts of money into helping an ailing finance firm in the ORG group.
However, the CARDINAL other big brokers posted healthy profits generally in line with their performance for DATE, helped by rising turnover on the NORP stock market. The brokers have troubled affiliates too but have yet to work out detailed strategies for tackling the problem.
Executives at ORG, ORG and ORG all said their firms had benefited from increased stockbroking fees and commission income from bond and stock underwriting.
Despite the net losses, analysts said ORG was on track for better-than-expected profits DATE, which would make it easier to resolve financial woes in ORG.
In DATE, ORG's parent current profit stood at MONEY (MONEY), more than double its MONEY (MONEY) DATE profit DATE.
However, it reported a loss of MONEY (MONEY) on a net basis after providing financial support worth MONEY (MONEY) to the non-bank affiliate.
Parent current profit is pre-tax, and includes losses and gains on non-operating activities. Net profit is after-tax and includes extraordinary profits or losses.
ORG's Vice President PERSON said there were no complaints from customers and shareholders about its decision to support the affiliate. Credit rating agencies have been positive about the decision as it shows a willingness to confront the problem, he said.
ORG wants to boost its operating profits for DATE of CARDINAL to offset the DATE net loss, he added.
Meanwhile, PERSON, vice president of GPE's ORDINAL-biggest broker ORG, said that the company wants to provide support to its non-bank affiliate in DATE on a lump-sum basis and was working on a plan with tax officials and accountants.
In DATE, ORG's parent current profit rose PERCENT to MONEY (MONEY). It was also in profit on a net basis. PERSON said the affiliate needs to write off MONEY (MONEY) worth of bad assets and ORG will use profits from sales of shareholdings, internal reserves and current profits to provide the aid.
Masao Yuki, the vice president of ORDINAL biggest broker ORG, said the company was also considering financial support to several non-bank affiliates. However, he said CARDINAL of the troubled units was jointly owned by ORG and it would take time to work out a plan.
PERSON, deputy president at ORG, said his firm is expected to revise an existing restructuring plan for its non-bank financial affiliate to cut the period covered by the scheme from DATE.
ORG's parent current profits fell slightly to MONEY (MONEY) in DATE from MONEY (MONEY) in DATE.
Parent current profits at GPE, the last of EVENT, rose PERCENT to MONEY (MONEY) in the DATE period. Its net profit also rose.
ORG and ORG did not give earnings forecasts but ORG said that it expected a parent current profit of MONEY (MONEY) in CARDINAL, and ORG said it projected a profit totalling MONEY (MONEY).","GPE's ORDINAL biggest bus company ORG said on DATE it had been approached by a defence vehicle manufacturer about forming a leasing joint venture targeting clients including ORG.
Cowie told ORG that the tentative approach was made DATE and added it was open to considering new options for business.
But the bus and vehicle leasing giant played down a report by The ORG newspaper which said the firm was pitching specifically to buy and lease battle tanks, saying such a move was ""highly speculative at this stage.""
Cowie conceded, however, that it had received an approach to form a leasing venture for military transportation equipment.
PERSON, a Cowie spokesman, told ORG: ""A GPE defence equipment supplier has approached us. Their idea was for Cowie to come in as player in the consortium, with our leasing expertise. We will assess each new idea on its merit.""
He said any move into military vehicles would have to be cleared with shareholders ORDINAL, ""...for ethical as well as commercial reasons,"" he said.
On the subject of leasing out frontline tanks, GPE was more cautious, admitting that there had been ""No talks with the MOD. But it has said that under ORG (private finance initiative) there aren't any no-go areas,"" said Blower.
The ORG scheme, applied across all government departments, aims to bring private cash into public spending projects including the option of the government leasing equipment. But an MOD spokesman was highly sceptical. Asked whether the MOD would put out a ORG project for tank leasing, he said
""Emphatically not. In broad terms the ORG rules nothing out and nothing in. Cowie has won a contract (with us) for forklift trucks and that is not. There is nothing else on the cards, let alone tanks.""
Cowie announced on DATE it had won a material handling equipment leasing contract with the MOD.
Tank and transportation equipment manufacturers like ORG were sceptical about reports of expanding leasing to military vehicles.
A ORG spokeswoman told ORG it did not approach Cowie and described the idea of leasing battle tanks as ""fairly off the wall. Leasing trucks is CARDINAL things, but a battle tank is quite another,"" she said.
But ORG was more circumspect. Asked whether it had approached anyone about the idea of forming a leasing venture to supply the MOD or other markets, a spokeswoman said ""There are no discussions at this stage.""
GPE giants have already caught onto the concept, with world leaders like PERSON and ORG exploring the possibility of leasing military aircraft to NORP countries.
At DATE ORG shares were down MONEY at CARDINAL-3/4p in a generally weaker NORP stock market.",0
"ORG completed its MONEY takeover of the promising smaller exploration company ORG DATE, solidifying its position as the world's ORDINAL biggest gold producer.
""We are pleased that PRODUCT shareholders have chosen so overwhelmingly to accept this offer,"" PERSON Chairman PERSON said in a statement. ""We now have the opportunity to realize the potential of ORG's excellent assets.""
A total of PERCENT of ORG shareholders accepted ORG's C$MONEY ($MONEY) a share bid overnight, and ORG said it plans to exercise its right to buy the remaining shares.
ORG said it will have to spend MONEY (MONEY) and issue CARDINAL shares to complete the takeover, giving the deal a total value of MONEY (MONEY) based on the closing price for ORG stock DATE.
The acquisition gives ORG, LOC largest gold mining company, ownership of ORG's prize possession, the GPE gold deposit in GPE.
While exploration on the property is in its early stages, some experts have speculated the deposit has potential reserves of QUANTITY of high-quality gold.
PERSON originally offered PRODUCT shareholders C$MONEY a share DATE to take over the GPE-based company. Analysts initially saw the offer as generous since exploration at GPE was preliminary.
But ORG recently released a fresh batch of drill results from the property, attracting interest from other potential bidders.
On DATE, ORG raised its offer to C$MONEY a share to pre-empt a takeover battle.
More drill results were expected soon.
Hours after ORG officials got the news that the takeover offer had succeeded, CARDINAL top executives in charge of exploration left to take a closer look at their new treasure.
""They're on their way to GPE right now, to start work on GPE,"" said company spokesman PERSON. ""What's next is to get a handle on the ore body.""
Drilling on the property will continue at an accelerated pace, he said. PERSON also plans to send in additional drill rigs and prepare for engineering work leading up to an eventual feasibility study.
""Things will start kicking in,"" ORG said.
Analysts were also on their way to GPE to scrutinize data collected by ORG that ORG has not yet seen.
Funding the takeover will not be a problem, ORG added. ""We've got a very strong balance sheet. We've got no long-term debt.""
But the company will have to pay interest on its line of credit and bump up its exploration budget to uncover the metal at GPE, cutting into earnings, CARDINAL analyst said.
The Arequipa acquisition was a very ""aggressive"" move for ORG and signals the start of a bold, new expansion strategy for the gold giant, mining experts said.
""I don't think they'll stop here. I think they'll continue on the acquisition track,"" one said.
PERSON would not say if it had its eye on another property. But the company has said in the past it plans to make CARDINAL acquisition.","NORP lawmakers bowed to intense government pressure on DATE and put the bite back into a bill to strip drug barons of their ill-gotten gains.
If the legislation survives a congressional plenary vote -- likely to be plain sailing after a stormy passage -- it could go some way to appeasing GPE, which has threatened to slap economic sanctions on GPE for its perceived failure to crack down on billionaire drug barons.
A conference committee hauled the asset forfeiture bill back from the brink by reversing a decision by the lower house which would have taken the teeth out of the law.
In a narrow vote on DATE, ORG rejected the provision, previously approved in the ORG, that would empower the government to seize drug-related assets accumulated over DATE.  The ORG ruled the law could only be retroactive to DATE, leaving much of the property amassed by the jailed PERSON kingpins, estimated at MONEY, untouched.
Justice Minister PERSON, who like a handful of other top ministers spent much of DATE lobbying key lawmakers in the halls of ORG, was buoyed by the committee's decision.
""Now we just have to see if the plenary session of the ORG and ORG approves the decision. But I don't think there will be any problem,"" he said.
GPE's business community also heaved a sigh of relief. It had campaigned for ORG to approve the DATE time limit in a series of pleas over DATE. Key export sectors of the economy are likely to be hardest hit if GPE sanctions are imposed.
Even though the asset forfeiture law now seems to have reached high ground, the road back into the good books of GPE still promises to be rocky.
Political analysts agree there is little chance of GPE regaining certification as a GPE ally in the drug war, which it lost DATE, even if it escapes threatened sanctions.
Other anti-drug legislation which GPE has demanded, such as stiffer sentencing and the reintroduction extradition, have been watered down or sunk in ORG in DATE.",0
"Veronika Hirsch, a flamboyant NORP stock picker whose high-profile move to ORG was marred by controversy, parted with the GPE-based fund company on DATE.
""We've concluded the discussions and ORG wishes Ms. PERSON well in her future endeavours,"" ORG spokesman PERSON said in a telephone interview.
PERSON was a star fund manager hired DATE to spearhead ORG's drive to dominate the NORP market.
But GPE's so-called ""WORK_OF_ART"" was removed from her portfolio in DATE amid a controversy over personal trades she made before joining the world's biggest mutual fund company.
Lakshman did not give details of the agreement with PERSON, who has kept a low profile since her investments in a small GPE company, ORG, grabbed headlines and the attention of regulators DATE.
PERSON's lawyer, PERSON, said on DATE that she is weighing her options, including offers to go on the lecture circuit or write a book.
""There's private money management prospects and there are mutual fund prospects. There have been a number of approaches made and she's considering what she will do next,"" he said.
At issue was PERSON's purchase of CARDINAL special warrants of PERSON through a private placement while she was a fund manager with ORG in GPE.
Shortly after the warrant purchase, PERSON's ORGamp; ORG bought CARDINAL special warrants of PERSON at more than double the price paid by PERSON, according to filings with ORG and reported by PERSON, a NORP investment publication.
ORG removed PERSON from her ORG DATE after NORP securities regulators confirmed her personal investments were under investigation.
The dramatic move came DATE after ORG poached PERSON from AGF to lead its expansion drive in GPE where it ranks ninth with MONEY (MONEY) in assets.
NORP have MONEY (MONEY) stashed in mutual funds, an QUANTITY increase from DATE. MONEY (MONEY) will be added to the pot DATE, analysts forecast.
While at ORG, Hirch was the focus of a multi-million dollar advertising campaign which made her GPE's top celebrity fund manager.
When PERSON jumped to ORG, her leather outfits and blood-red nails appeared an uncomfortable fit with ORG's ultra-conservative culture, but the hiring was considered a major coup within the industry.
PERSON's old True North fund is now under a less flamboyant manager and has accumulated MONEY (MONEY) in assets since its launch DATE.
While analysts have said it is difficult to assess the damage to ORG's expansion drive, the PERSON affair has changed how fund companies sell their product.
Brash campaigns built around high-profile stock pickers are out and the ""team"" is in, analysts said.","ORG said it will announce on DATE an initiative with several industry leaders to standardize its popular PERSON programming language, which is widely used to develop Internet software.
ORG said ORG, ORG, ORG, ORG and others support its initiative, which will guarantee a program is ""pure PERSON.""
The move comes amid recent industry talk that the Java language could become fragmented with multiple versions.  
Recently, there have been a spate of reports in the computer industry trade press about fears that PERSON -- which enables software developers to write an application in the Java language and it will run on any computer system -- will become fragmented like the UNIX operating system.
There are now CARDINAL different versions of UNIX, which was developed by ORG as a high-performance operating system for networked computers, and these multiple versions prevented its widespread industry adoption.
""There has been a great deal of concern about PERSON splintering,"" said PERSON, vice president of software.  
The brouhaha started at ORG, the industry's biggest trade show, when ORG announced plans to develop several programming interfaces and tools for the Java language. The resulting programs developed with their software programming tools would run only on its PRODUCT software.
""There really will be a tug and we are making sure that you don't give anything up by going with the PERCENT pure solution,"" PERSON said.
DATE, ORG will unveil what ORG Pure Java"" initiative, which will provide education for the industry, developer assistance and program certification.  
In DATE, ORG will introduce testing, certification and branding for applications that pass its criteria. ORG, ORG, and PRODUCT will launch a worldwide educational tour aimed at training software developers to write and test Pure Java applications.
ORG said that it hopes its initiative will help contribute to the momentum that has been building DATE around PERSON, a language it originally developed for interactive television.
""If we think of DATE as 'the year of Java, the platform,' then we should think of DATE as 'the year of Java deployment,'"" PERSON said.  
ORG said that a recent survey by ORG indicated that PERCENT of the corporations interviewed were developing, or had plans to develop applications using PERSON.
Java - which is widely used to develop World Wide Web sites and content on the Internet - lets developers write a program once that will run on any system compatible with PERSON. Developers can also easily add animation and other features.
CARDINAL software developers are now writing applications in PERSON. ORG said it will spend MONEY on its 100 Percent Pure Java program. ORG's PERSON unit is leading the initiative to standardize PERSON.",0
"Some of the brightest stars of NORP pop put on a glittering show in GPE on DATE, but officials kept politically-suspect rock heroes off the playlist, sources close to the concert said.
A capacity audience of CARDINAL flocked to LOC to see a showcase event featuring CARDINAL of performers from GPE's fledgling popular music industry.
State media said the event, the ORDINAL leg of a double concert in the capital, was intended to celebrate the growth of the pop music industry since it was banned as capitalist poison during the chaos of the DATE Cultural Revolution.
The concerts were intended to capture the flavour of DATE of NORP pop, but organisers had been ordered to cut some of the nation's biggest and most influential rock and roll stars from the playlist, sources close to the event said.
The DATE 'A' concert, to be followed by a 'B' performance on DATE, was a showcase mainly for sugary pop songs largely focused on themes of love and friendship --  a staple diet for state-run music broadcasters.
Harder-edged music -- unpopular among communist authorities keen to promote safe socialist loyalties -- was conspiciously absent.
GPE has repeatedly ordered campaigns to boost socialist morality weakened in the rush to a market economy, prompting tighter official controls on all forms of cultural activity.
PERSON, widely regarded as the father of NORP rock music, was not scheduled to attend either concert, organisers said.
Sources close to the event said PERSON, whose music is a blend of NORP rock, NORP instruments and politically-sensitive lyrics, had originally been intended to play a major part in the event but had been barred by GPE's musical mandarins.
The classically-trained performer's music is still hugely popular among listeners, but ideologically-suspect anthems such as ""Nothing to My Name' that caught the mood of a generation in DATE are seldom permitted on state-controlled media.
""Cui's basically been banned from performing in GPE since DATE,"" said a promoter close to the event who declined to be named. ""The higher-ups told the organisers...he couldn't take part.""
Heavy rock group PERSON, or PERSON, which has won the hearts of many younger NORP despite official disapproval, would also be absent, said concert promoter and radio presenter PERSON.
Zhang said he had not been told of any ban against Cui or PERSON, who have long been forced to seek venues far from the NORP capital.
PERSON had not been banned but were considered unsuitable because they could make the audience too excited, he said, adding the stars still on the playlist were attraction enough.
""They are all very important, all people who can play epoch-making roles in the circle of NORP singers,"" he said.","Changing Chinese tastes and a clutch of new factories have paved the way for spectacular growth in GPE for NORP food maker ORG, senior company officials said on DATE.
ORG's core portfolio of milk products, instant coffee, chocolate and sugar-based confectionary and prepared foods was all being produced in GPE, with a new plant producing mineral water scheduled to open DATE, they said.
""We expect ORG's total investment in GPE to reach MONEY (MONEY) by DATE,"" ORG chairman PERSON told a news conference in GPE.
Sales in GPE would grow exponentially, he said.
""We will double DATE, there is no doubt about it,"" he said.
ORG had so far completed CARDINAL of CARDINAL projects planned in its initial MONEY investment in GPE and expected sales in GPE, not including GPE, of MONEY in DATE, company officials said.
Maucher said there were no immediate plans to open new factories. ORG's focus in the short-term in GPE was on expanding established plants, but CARDINAL new production projects could be established by DATE.
The changing tastes of NORP consumers meant there was great scope for sales growth, particularly in the instant coffee market where ORG's Nescafe brand already had a PERCENT share, officials said.
""It's clear the younger generation will increasingly drink coffee,"" said PERSON, chief executive of ORG, which supplies management services for ORG's  NORP joint ventures.
While Maucher was confident sales would double DATE, other NORP officials were more cautious.
""I think every two years is a very ambitious target,"" said PERSON, adding that a DATE timescale might be more achievable.
Although ORG set up shop ahead of many of its multinational rivals in DATE, the company had lagged in breaking into GPE's rapidly growing ice cream market, a company official said.
Joint venture ice cream producers had already established a strong presence on the streets of GPE and other northern NORP cities, making it difficult for ORG to catch up in the short term, said the official who declined to be identified.
($MONEY = MONEY)",1
"Wheat is unlikely to become a casualty of the row between GPE and GPE over GPE arms sales to GPE since higher grain production in GPE is slashing the need for imports, traders said on DATE.
""As far as we see business, we could well not have anything with GPE for the rest of DATE,"" a GPE trader said.
""The (NORP) domestic crop looks good, they have cancelled a lot of orders already. GPE has enough to hold GPE if they do need to get into the market,"" she said.
GPE's CARDINAL wheat production was expected to hit a record QUANTITY, ORG said ealier DATE, raising its estimate from QUANTITY.
As a result, total imports were also revised downward by QUANTITY.
A new war of words broke out between GPE and GPE DATE after the ORG said GPE wanted to buy missiles and other weaponry worth MONEY.
GPE has regarded GPE as a renegade province since NORP fled there after losing EVENT in DATE. It opposes the sale of weapons to the island.  
GPE has demanded GPE cancel plans for these latest arms sales to prevent ""new damage"" to bilateral ties.
NORP-U.S. ties have see-sawed in DATE over disputes ranging from human rights abuses and widespread copyright piracy in GPE to alleged nuclear proliferation by GPE.
Ties had been slowly recovering after reaching a nadir in DATE with a GPE visit by GPE's President PERSON.
GPE had cancelled QUANTITY of wheat orders from GPE since DATE, the ORG said.
While some trading sources have speculated that the cancellations could be in retaliation for stalled bilateral negotiations over a fungus called tilletia controversa kuhn, or TCK smut, others put them down to the good NORP crop outlook.
GPE is expected, however, to maintain its traditonal level of wheat imports from GPE of QUANTITY a year. NORP trade sources have said GPE's buying programme has already begun.
None of this has deterred GPE Agriculture Secretary PERSON from his optimism that GPE will remain a committed buyer of GPE wheat.
""I think the key issue myself with GPE is supplies in GPE,"" PERSON said in GPE on DATE.  
""The NORP have pulled their grain purchases to some degree, but I do not perceive that we will see GPE out of the GPE market. I think they will be in the market, but I can't tell you for how much,"" he said after a fund-raising meeting of ORG.
GPE was not the ""preferred"" supplier of wheat to GPE, he said, and the CARDINAL countries had issues to resolve. He expressed concern that problems such as TCK smut could be used as trade barriers.
GPE does not accept wheat from the ORG northwest because it cannot be guaranteed to be free of the fungus, which it fears could spread through its own wheat crop and cut yields.
GPE claims officially that TCK is harmless, though quarantine officials have said privately that it can indeed cut yields and that treatments are ineffective.
GPE imported QUANTITY of wheat in DATE, up PERCENT from QUANTITY DATE.
GPE wheat accounted for QUANTITY of the DATE total, GPE figures show.","QUANTITY of copper is in the process of being added to the stocks of GPE's central reserve authorities with CARDINAL of that quantity now clearing through customs, NORP traders said on DATE.
Metals trading and industry sources polled in DATE by ORG generally agreed that GPE bonded warehouses have held QUANTITY of copper.
""The copper in the GPE (bonded) warehouses has been settled and is moving into GPE,"" a NORP metals trader said.  
The copper's ownership and purpose have been contentious since it was channelled into GPE in the wake of ORG revelation in DATE of massive copper-trading losses now said by the company to total MONEY.
Many market and industry sources have said the copper was bought by GPE's metals trading arm China National Non-ferrous ORG (ORG) possibily in conjunction with ORG.
Neither ORG nor ORG have made any official comment.  
A NORP source, who trades for a state-owned company, said central authorities bought the copper now moving through customs to cover the QUANTITY of the red metal lent to the market in DATE and which had to be taken back.
But a NORP trader in GPE said the QUANTITY was additional to the tonnages now undergoing customs formalities.
He also noted the earlier movement of CARDINAL of copper which was shipped from GPE to bonded warehouses in north GPE for the state reserve.  
Another QUANTITY had been taken from ORG (ORG) warehouses and would be delivered to NORP ports in DATE or DATE, he said.
The NORP source's total figure of QUANTITY tallies with reports from other sources, NORP and NORP, who have said GPE, either through major state-owned trading companies or smaller firms with hot money, is due to take delivery of substantial amounts of copper.
As ORG (ORG) copper price plummeted in DATE on ORG's news, GPE was said to be taking advantage of prices below $MONEY a tonne to stock up.  
Arbitrage opportunities are narrowing, however, and trade sources said they were relieved the GPE hoard was destined for central government reserves.
""This will keep it off the market,"" a GPE trader said.
The NORP source in GPE said: ""These tonnages are worth MONEY and only the central reserve authorities have the capacity to put out this sort of money.
""It could even be part of ORG budget -- that project could easily use QUANTITY of copper and the reserve's stocks are very low,"" he said.  
A large gap between ORG and ORG prices gave NORP arbitragers a stab at healthy profits and a chance to take their money out of domestic equities.
This fuelled fears that massive amounts of copper could be channeled onto the domestic NORP market.
A NORP source who regularly visits NORP copper smelters said many of his contacts had recently expressed fears that QUANTITY of copper would soon arrive in GPE and kill the market for domestic product.  
GPE's plan to dam LOC is one of the world's biggest infrastructure projects, costing MONEY and due for completion in DATE.
CARDINAL different departments of ORG contacted by ORG said they did not know of the copper movements.
A number of government departments, as well as GPE's metals production arm ORG (CNNC) and ORG also said they were not aware of or had no comment on the market talk.
GPE is traditionally guarded about its reserves, treating all relevant figures as a state secret.  
Copper futures on ORG breached the key resistance level of MONEY ($MONEY) per tonne in DATE trading, after sharp gains on the ORG on DATE.
ORG copper rode a roller-coaster on DATE, finally settling at $MONEY a tonne, a gain of $MONEY over DATE as the market shook off rumours of huge stocks held in GPE and focused on the lowest ORG copper stocks in DATE.
The latest GPE indications of premium or discount in US$/tonne over ORG cash prices on a CIF basis:
				    Nov 18		    Oct CARDINAL
    COPPER			 CARDINAL			100
    ALUMINIUM Western	   CARDINAL		    CARDINAL
		  CIS		 N/A			N/A
    LEAD			    N/A		     CARDINAL
    ZINC (NORP)		N/A			CARDINAL-90
	   (Western)		N/A		     CARDINAL
(MONEY)
-- GPE (CARDINAL) 2843 6358",1
"GPE's foreign debts reached MONEY at DATE but the governor of the central bank said the country was confident of paying its bills.
Governor of ORG Dai Xianglong said the nation's foreign exchange reserves of MONEY -- among the biggest in the world -- were comfortable, but not excessive.
""We are very prudent in our borrowing,"" he said, adding that the level of debt measured against exports -- or the debt service ratio -- was well within international warning levels.
""On the whole the repayment situation is good,"" PERSON told ORG in an interview.
""It is hard to say exactly where the debt level will be DATE, but DATE MONEY is possible,"" he said.
He said MONEY had been the average DATE addition to the debt level over DATE.
""For a country of GPE's size, (the level of foreign exchange reserves) is not a big sum,"" he said. ""We can only say it is comfortable.""
Most of GPE's debt was long term, but GPE needed reserves sufficient to maintain repayments as well as to finance DATE worth of imports, he said.
GPE also had new needs for foreign currency following the recent move to make the renminbi -- GPE's currency -- convertible on the current account.
He described GPE's repayment status as good, although he conceded there were repayment problems with enterprises under the direction of local governments.
""There are some local government-run enterprises that are overdue,"" he said.
But ORG also said foreign banks had a responsibility to ensure that credit went to deserving enterprises.
""Foreign creditors of NORP enterprises must be selective in their lending,"" he said.
The central banker said he expected the renminbi to remain stable though he saw upward pressure on the NORP currency, partly due to an expected trade surplus of MONEY DATE.
That would be down from the MONEY surplus GPE recorded DATE and much better than initial forecasts for DATE.
Economists say faster payments of export tax rebates have encouraged many companies to turn to the export market, thereby helping the trade picture.
The renminbi currently trades at CARDINAL MONEY.","NORP share prices rallied following the coalition government's win in DATE ORG elections, but analysts said the rise is due more to a technical correction than a change in investor sentiment.
ORG ORG index rose PERCENT at the bourse's DATE price fixing, spurred by gains to CARDINAL of the CARDINAL most-capitalised shares.
Brokers, however, were muted in their optimism that the rally would last DATE, saying the centre-right government's strong showing was expected and already built into the market DATE.
""Basically, this is a technically-led rally, I don't think it has a basis to do with ORG elections,"" said PERSON of the brokerage ORG.
Added another local trader: ""You're not seeing real volumes here you're just seeing prices being pushed up in anticipation of DATE, and without a doubt it is domestically driven. Foreigner investors are still on the sidelines.""
The minority coalition of Prime Minister PERSON took CARDINAL of CARDINAL seats in the newly-created upper house of parliament, following the ORDINAL round of voting, well ahead of the centre-left opposition NORP which took CARDINAL seats.
The ORG is a mostly advisory body with limited legislative powers, but the election was the ORDINAL test at the polls for ORG since his coalition lost its lower house majority in general elections in DATE.
But a thin turnout -- PERCENT of the electorate cast their ballots -- made it hard for the CARDINAL-party coalition government, which lost its lower house majority in DATE, to claim it had recaptured voters' hearts.
The GPE bourse has been hard hit in DATE -- falling PERCENT since DATE -- with most investors shying away from the a market characterised as opaque at best, and little regard for minority shareholder rights.
And analysts said that the election would probably not bring about a new push for changes to securities laws within the coalition, a condition that is necessary to lure back participants.
""I'm a little sceptical about the possibility that the ORG will help bring in changes,"" said ORG of Zivnostenska Banka.
""I think there will be a lot of pressure from market participants on the government to do something...but I have not seen any signs of a change in attitude of the coalition with respect to this topic.""
Analysts said that the market should take some heart however, in statements made by ORG following the vote when he said he saw no reason to call early elections for the lower house, which should keep the market stable in the near future.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"Privatised nuclear power generator ORG sparked criticism on DATE when it announced job cuts that failed to impress the stock market and angered unions.
""I don't think this move transforms (ORG) prospects at all,"" said PERSON, utilities analyst at ORG.
ORG said in a statement it aimed to cut CARDINAL jobs in GPE and GPE to make savings in staff costs of MONEY (MONEY) within DATE.
It said it would have a CARDINAL-off restructuring charge of MONEY which was already provided for.
Chief executive PERSON said there could be more savings to come as cuts in office costs came through.
Union representatives slammed the move in a statement as ""a high risk strategy,"" warning that job cuts could ""reduce training, lower standards and threaten safety.""
The Nuclear Installations Inspectorate (ORG), part of GPE's ORG, said it would review the plans and take action if it felt safety would suffer.
""If we think (the plans) are adverse (for safety), we will use regulatory powers to stop (NORP Energy) doing them,"" a spokesman for the ORG said.
But ORG maintained that ""safety is our bottom line, not profit.""
ORG debut on the stock exchange in DATE was overshadowed by temporary closures of CARDINAL of its CARDINAL reactors after cracks were discovered.
Shares kicked off below the partly-paid issue price of MONEY to institutions and MONEY to small investors and have rarely moved above those levels, mangaging just a MONEY rise on DATE to stand at MONEY at DATE ORG.
The ruling Conservative government pressed ahead with its privatisation despite the deep unpopularity of the deal and has been left with a stake of PERCENT.
The opposition ORG also criticised the job cuts, which energy and industry spokesman PERSON said showed ORG ""has not performed as they promised they would.""
He called on the company to confirm its dividend policy which it has said is vulnerable to underperformance by nuclear power stations.
Although ORG maintained the company's plans were aimed at making ""absolutely sure we are competitive in the market place,"" analysts expressed concern it faced stiff challenges and remained an unattractive investment.
""They are under pressure,"" said ORG (SGST).
Whiting said the crucial factor for ORG was price of electricity in the so-called ""pool,"" or wholesale market.
""Pressure on electricity prices is downward in the medium to long term. (NORP Energy) has to address operating costs to get profits to stand still,"" he said.
Hollobone said the cost cuts should make predictions for dividend growth more secure but added that these were still below market averages.
""Dividend growth is one of the lowest in the sector and there is no sign of a special dividend,"" he said.
ORG said at its privatisation that the ORDINAL interim dividend would be MONEY a share and forecasts for final dividend are for MONEY in CARDINAL.
""You can get better value elsewhere. Why invest in ORG?"" Hollobone said. ($MONEY Pound)","GPE's ORDINAL biggest supermarket group ORG reported DATE DATE profits as expected on DATE and sluggish sales.
But the company, which DATE was overtaken as market leader by arch-rival ORG, held out the hope of improvements, and its shares rose.
Sainsbury said DATE pretax profits slipped to MONEY (MONEY) from MONEY in DATE and is paying out a dividend of MONEY per share, up from MONEY.
The company suffered its ORDINAL fall in DATE profits for DATE when it reported in May.
Its shares were up MONEY to MONEY by DATE ORG, however, just off a high of MONEY.
""The share price rise is a triumph of hope over statistics,"" said CARDINAL analyst who asked not to be named.
The group said current sales from comparable stores, excluding petrol, were rising in line with inflation of PERCENT, well below PERCENT gain reported by ORG in DATE.
""Clearly we want to do better PERCENT)"", chairman PERSON told ORG.
""DATE will be about getting the basics right, DATE will be about getting profits moving,"" PERSON said.
""Sales moving in line with inflation is pretty disappointing considering they've introduced the loyalty card,"" said CARDINAL sector analyst who asked not to be named.
The company was forced to introduce its GPE loyalty card offering special deals for regular customers DATE after ORG's PRODUCT helped it to beat Sainsbury to the market leader slot, and it is now accounting for much of the sales uplift.
Sainsbury said marketing and operations initiatives along with the GPE card should help to boost sales and the company said it was looking forward to DATE.
""We will be fighting on our traditional ground of quality and choice, along with customer loyalty,"" PERSON said.
Sainsbury, which DATE announced plans to launch a bank with ORG, said there would be a further ""major development"" on Reward soon and said it would move to strengthen its leadership in quality and choice.
The group said PERSON, currently deputy chief executive of the supermarket business, will take over from PERSON as chief executive of the unit on DATE rather than at DATE as previously planned.
Analysts have been waiting for PERSON to show himself as a rising star but so far he remains largely unproven, they said.
The company said it intended to boost its sales area by PERCENT DATE, which PERSON said ""enormously helps in driving forward market share.""
Despite sluggish sales growth, ORG managed to increase market share during DATE to PERCENT from PERCENT and still has the highest sales per square foot of the big CARDINAL retailers, including ORG and ORG.
At the same time, the group is now breaking even on petrol sales after a fierce price war triggered losses which helped to erode ORDINAL half gross margins by PERCENT of sales.
""There's relief that it was not even worse and ORG carries an enormous amount of goodwill, but sentiment could still go either way,"" CARDINAL analyst said. ($MONEY Pound)",1
"The stock of ORG fell sharply for the ORDINAL consecutive session DATE on concern that the PERSON, Colo.-based ambulance company is straying from its successful acquisition strategy.
The steep decline came after ORG announced DATE an agreement to buy ORG in a stock transaction valued at MONEY.
The planned acquisition moves ORG, which has bought CARDINAL ambulance companies since DATE, into hospital emergency rooms and disease management.
The stock of ORG tumbled $MONEY on ORG to $MONEY. The stock dropped $MONEY after the transaction was announced on DATE.
Wall Street analysts said the deal was strategically sound from a long-term perspective, but noted that investors were wary of the company's shift into a new area.
""The scepticism, which we don't share, is related to the company's going into a business outside their consolidation within the ambulance industry,"" said PERSON of Furman Selz.
GPE-based ORG provides staffing for hospital emergency rooms. It also offers outpatient medical services such as kidney dialysis.
Industry sources also cited the company's prediction the deal will slightly dilute earnings DATE.
In a conference call with investors and analysts on DATE, ORG said the transaction will add to earnings in DATE. It also anticipated cost savings of MONEY from the merger.
Industry analysts noted that the acquisition marked a logical extension of its existing services by branching out into the hospital emergency room and providing more services for clients.
""They're taking it beyond just driving you to the hospital,"" said PERSON of ORGamp; ORG sources also noted that shareholders of ORG were likely to be concerned about the steep stock decline because the transaction was not based on any fixed price for ORG shares. The deal calls for each share of ORG common stock to be converted into DATE share of ORG.
Officials from both companies could not be reached for comment.
STAT stock fell MONEY to $MONEY on ORG.
Analysts expect ORG to continue its tradition of buying ambulance companies as it works to integrate the ORG acquisition.
""I think the outlook for this company is very good. There are CARDINAL ambulance companies in the GPE and they aren't geared to the needs of medical care as it is evolving,"" said Hewitt.","GPE and the NORP republic announced on DATE that a long-awaited declaration on post- EVENT reconciliation would be initialled DATE but politicians on both sides withheld final approval of the text.
The CARDINAL foreign ministries said NORP Foreign Minister PERSON and GPE's PERSON would sign the document in GPE on DATE, at DATE of talks.
The declaration, expressing regret at both NORP atrocities during the war and the expulsion of ethnic NORP from former GPE afterwards, then has to be signed by the CARDINAL countries' presidents and confirmed by the CARDINAL parliaments.
But GPE's ORG (ORG), political sponsor of the expelled NORP, said its support for the text was not guaranteed.
""I would speak of a conditional 'yes',"" Finance Minister and ORG chairman PERSON told reporters. He said TIME changes to the text could not be ruled out.
Final approval from the ORG, a partner in the GPE coalition, would depend on assurances that LOC, as they are known, would be ""involved at an appropriate level"" in a dialogue between GPE and GPE, he said.
The NORP-based ORG has in the past hinted it could use its weight in the government to block the declaration or oppose GPE application to join ORG unless the Sudeten NORP were given better terms.
In the NORP parliament the mainstream parties have backed the declaration, but the extreme-right ORG and far-left NORP have ruled out voting for it in any form.
Members of the largest NORP opposition party, the NORP, whose votes may be crucial for approval by parliament, said on DATE that they still had concerns about vaguely-worded compensation for victims of NORP aggression.
""(The party) has done all it can for the declaration to be accepted, but it still expects a bit more work (on the text),"" a ORG NORP senator from the once NORP-annexed district of ORG, PERSON, told NORP Television.
PERSON, the head of the NORP caucus in the house, was quoted in the daily Pravo on DATE as saying he would not vote for the declaration in its present form.
The NORP foreign ministry said in a statement that PERSON and PERSON would ""sign a protocol on the completion of negotiations of the NORP-German Declaration of mutual relations and their future development"".
The full declaration, leaked to news media DATE, contains mutual expressions of regret for the NORP occupation from DATE and for excessive brutality during the post-war expulsion of LOC.
The text angered groups representing families of LOC, who complained that it did not compensate those who had lost property during the expulsions.
The declaration sets up a ORG with the NORP side paying in MONEY (MONEY), and the NORP paying CARDINAL of that.
The text says the fund is to finance ""projects of common interest"" including joint environmental, historical, and scientific projects, youth meetings, and partnership projects.
But the text adds that: ""The NORP side acknowledges its obligation of responsibility to all who became victims of ORG violence. That is why the projects, wherever appropriate, should work mainly for the benefit of the victims of ORG violence.""
NORP Chancellor PERSON is expected to visit GPE, probably on DATE, to sign the text with NORP Prime Minister PERSON.
In DATE NORP President PERSON and NORP President PERSON are expected to address the parliaments of each other's countries in ceremonies giving final approval to the declaration.",0
"NORP gold giant PERSON is the most likely contender to partner junior mining company ORG in developing its huge NORP gold deposit, analysts polled by ORG said.
""We really only have CARDINAL potential front runner: PERSON,"" said gold analyst PERSON with ORG.
PERSON has demonstrated its interest in NORP gold by investing MONEY in exploration and amassing a large land position in GPE, analysts said.  
And PERSON's association with a construction company run by the daughter of GPE's President PERSON suggests PERSON is carefully setting up its network to control a piece or all of the Busang, PERSON CARDINAL discovery in the middle of the jungles of PERSON.
""They're trying to position themselves the best they can,"" said CARDINAL analyst who did not want to be named.  
Analysts who have been closely watching developments around Busang,said PERSON stands the best chance of bidding successfully for a stake in the property because PERSON's own high-priced stock, relative to the value of its assets, will look attractive to ORG shareholders.
""In order to pay the sort of multiples ORG is trading at, you have to have a high gold multiple in order to land the company or the property at these prices,"" said PERSON at Goepel Shields in GPE.  
PERSON shareholders will likely look for a combination of cash and shares so they can keep a stake in the fortunes of GPE, analysts said.
PERSON is looking for a heavyweight mining company to buy all or part of the Busang discovery and act as operator of what is expected to become one of the world's biggest gold mines. But the search has been dogged by a dispute with ORG NORP partners over ownership.
The spat has caused the NORP government to delay granting PERSON essential contracts of work needed to develop Busang. Without the contracts, analysts said a bid for ORG would be unlikely.  
Bre-X has refused to speak to the media since it forged an alliance with NORP President PERSON's son DATE. But some analysts said PERSON told them recently the dispute should be cleared up DATE.
While PERSON is at the top of the list of companies who could afford to buy into ORG, GPE-based ORG also has the resources and the attractive stock price to make a bid, analyst PERSON pointed out.
""The size of this deposit and the potential involved here sort of limits it to those CARDINAL,"" he said.
Others said the Bre-X play was not Placer Dome's style.  
""Definitely Placer has the capability to do it. I just don't think they have the stomach for it,"" said PERSON.
PERSON, ORG, ORG and ORG and ORG could also be in the running for ORG, their chances are not as good as PERSON's, analysts said, noting that GPE, PERSON and ORG already have large exposure in GPE.  
While the GPE-based ORG, controlled by ORG  ANGL.J., has recently raised MONEY, the company's stock lacks the high multiple that would make it attractive to ORG shareholders.
PERSON could run into political problems if it were to make a bid for ORG, said CARDINAL NORP analyst who follows ORG closely.
""NORP might not want to get into a situation that's so blatantly political,"" he said. ""It might backfire on them.""  
If PERSON does eventually succeed in controlling the Busang deposit, it would go a long way to fulfilling ORG chief executive PERSON dream of building the world's largest gold company to supplant NORP, analysts said.
""It fits very nicely with ORG's strategy,"" said CARDINAL analyst. ""Munk is not driven by money. He wants to have a legacy. He wants to be able to say he started with nothing and ended with the largest gold company in the world.","Shareholders are troubled about negotiations between PERSON and ORG over the huge Busang gold deposit in GPE.
Some Bre-X shareholders are concerned they may be pushed into a bad deal; while some ORG shareholders are worried they could emerge from any deal with a poor reputation.
""Shareholders are very vocal at this point,"" gold analyst PERSON of brokerage PERSON said DATE. ""And you've got some influential shareholders here.""
Many big institutions hold both stocks, he noted.
""I think it's the responsibility of PERSON to be responsible here, given that ORG has a gun to its head.""
DATE, GPE-based ORG said the NORP government had told it to negotiate with gold giant PERSON to carve up ORG stake in GPE.
GPE wants PERSON to PERCENT and ORG to PERCENT, while both are to consider giving a PERCENT stake to the NORP government, ORG said.
""It's got to be a fair deal. PERSON can't screw ORG shareholders or there will be hell to pay,"" said Fowler.
If PERSON makes what is seen as a fair deal with ORG, shareholders may be prepared to ignore the fact that ORG is negotiating with a gun to its head, oberved a portfolio manager at CARDINAL NORP institution that has significant holdings in both companies.
""Everybody can sort of hold their nose and say, this thing smells, but it doesn't smell too badly,"" said the source, who asked not to be indentified.
However, if PERSON takes advantage of its favorable position and does not treat ORG fairly, ""then it smells very, very bad,"" the portfolio manager said.
""The constraint on PERSON is that they have to go back to the capital markets from time to time doing other deals. ""It's a question of sawing off somewhere where it smells but doesn't smell too bad,"" he told ORG.
Retail shareholders are expressing their worries too.
CARDINAL PERSON shareholder, PERSON, who said he and his family owned PERCENT of ORG issued shares, circulated a letter to other shareholders on DATE, urging them to register their concerns by faxing a form letter to PERSON and ORG
""I wish to register my concern with these developments and put both PERSON and PERSON on notice that any transaction struck between them must fully represent full and fair value to ORG shareholders,"" the letter reads.
""I and other like-minded ORG shareholders plan to watch developments closely and are prepared to take appropriate action to ensure the rights of ORG shareholders are fully respected.""
The letter demands access to any internal or external resource calculations so that shareholders can better judge the fair value of any deal between the CARDINAL companies.
""We've had DATE of drills working on that site and no published results. How can anyone possibly comment on the value?"" PERSON told ORG.
While PERSON acknowledged it is too early to judge the success of campaign, he said he had consulted with  ""several dozens"" of concerned PERSON shareholders.
A fax machine at ORG was reportedly spewing out letters from shareholders at full tilt. ORG spokesman PERSON said his company's fax machines were no busier than usual.",1
"DATE results from GPE's CARDINAL biggest banks show they have moved back into the black despite hefty write-offs of problem loans.
Analysts said figures released by CARDINAL trust and credit banks DATE showed that all of GPE's big banks had continued actively writing off problem loans resulting from the collapse of GPE's DATE ""bubble"" economy of over-priced real estate.
The CARDINAL biggest commercial banks announced their interim earnings and loan write-off statistics DATE.
Combined write-offs by the CARDINAL biggest banks totalled MONEY (MONEY) in DATE. DATE, the CARDINAL big banks disposed of MONEY (MONEY) worth of problem loans.
At DATE, ORG said the CARDINAL banks had MONEY (MONEY) worth of problem loans, which include loans made to bankrupt companies and those on which interest payments are in arrears by DATE or more.
PERSON, an analyst at ORG, said the CARDINAL banks may dispose of MONEY (MONEY) worth of problem loans in DATE in order to cut the size of problem loans to manageable levels.
Analysts said many big banks were now recovering from the difficulties caused by the problem loans, but some financially-weak banks would continue to struggle to dispose of such loans in DATE.
PERSON, an analyst at ORG, said that major banks should be able to cut their problem loans to manageable levels DATE, but added that ""some banks are still reeling from the bad loan problem.""
CARDINAL long-term credit banks -- ORG, ORG and ORG -- all recorded parent current profits for DATE after posting losses in DATE.
Current profit is pre-tax and includes gains or losses from sales of securities.
The CARDINAL said they disposed of MONEY (MONEY) of problem loans in DATE against a total of MONEY (MONEY) DATE.
GPE's CARDINAL major trust banks, all of which posted parent current losses in DATE, said they posted combined parent current profits of MONEY (MONEY) in DATE after disposing of MONEY (MONEY) of problem loans in the period.
This compared with disposals of MONEY (MONEY) DATE.","A loan-collecting body said on DATE it was seeking the involuntary bankruptcy of a major real estate firm, the latest shock to the country's financial system from the long-running ""jusen"" mortgage firm scandal.
If GPE-based PERSON were declared bankrupt it would be one of the biggest NORP business failures on record, financial industry sources said. The firm has estimated total liabilities of MONEY (MONEY).
The sources said the bankruptcy could lead to problems at financial firms that have loaned money to PERSON.
The bankruptcy request was made to the GPE ORG by the semi-governmental ORG (ORG), set up to collect problem loans run up by the ""jusen"" group of home loan firms.
PERSON is a major borrower from the ""jusen"" mortgage firms, which collapsed under the weight of rash property loans made during the ""bubble"" economy of DATE.
Finance Minister PERSON also said the PERSON problem was likely to spread to financial firms that had lent it money. ""However, such an impact will be resolved among related financial institutions in accordance with our financial system,"" he said.
Jitters about problems in the banking industry helped push up the price of NORP government bonds to record levels on DATE.
The filing was somewhat expected. PERSON, president of the ORG, told reporters recently the body was considering taking such action.
NORP media reported recently that the corporation was considering such a move because of alleged attempts to transfer PERSON assets to affiliates.
In DATE, PERSON chief PERSON pleaded guilty in the GPE ORG to charges that he and some aides hid assets to prevent them being seized by creditors.
The Sueno group was the ORDINAL-largest borrower from the mortgage firms.
Media reports have said it borrowed MONEY (MONEY) from CARDINAL of the CARDINAL jusen and MONEY (MONEY) from CARDINAL other financial institutions.
PERSON, governor of ORG GPE (DIC), which supervises the loan-collecting body, said in a statement that ORG has no intention of seeking the bankruptcy of every borrower from the jusen firms.
But he said that taking such action would be inevitable for some ""malignant"" borrowers like Sueno which he said had repeatedly attempted to hide assets.
PERSON officials were not immediately able to comment.
GPE's financial industry has made progress in tackling the problem of bubble-era loans gone bad, but analysts say some smaller loan institutions heavily exposed to the real estate and construction industries remain vulnerable.
The collapse of a major financing company DATE, ORG, with huge debt liabilities also highlighted the continuing fallout from the bad loan problem. (MONEY)",1
"The stock of ORG, which in DATE was derisively dubbed ""I've Been Mugged,"" is back trading at historic highs, with many analysts and traders predicting its shares will continue to soar.
The major rally was sparked DATE when an influential Wall Street analyst, PERSON of ORG, raised his DATE price target on ORG, to $MONEY from MONEY.
Since DATE, ORG's shares have soared PERCENT to CARDINAL at DATE's close of market.  
CARDINAL question now among investors is whether to jump in at these levels like sheep, or wait for ORG's stock to decline.
Market technicians and some analysts who follow ORG say that its once-beleaguered stock still has room to climb.
Even after DATE's run-up, analyst PERSON of ORG on DATE raised his DATE price target to $MONEY, from $MONEY.
ORG's shares are now trading at levels its shares have not seen since before the DATE stock market crash, having in fact reached a DATE high.  
""It still sells at a relatively low valuation, relative to the technology sector,"" PERSON said.
Technology stocks typically trade at a price/earnings ratio of CARDINAL times their earnings estimates. But even with its intraday surge DATE of CARDINAL, ORG is still trading at a P/E of only about CARDINAL times its trailings earnings estimates.
ORG's shares have climbed PERCENT since DATE, when it was trading CARDINAL.  
Market technicians, who use charts, graphs and computer analysis without considering company fundamentals, said that ORG's shares have recently broken out of CARDINAL previous resistance levels on the charts, CARDINAL at CARDINAL and another at CARDINAL, and are now poised for a further uptick.
""At these levels there really isn't much resistance, this can continue to work higher,"" said PERSON, a senior technical analyst at ORG. Resistance refers to a price ceiling where a stock price consolidates.  
""I think the primary trend remains up,"" said PERSON, a technical analyst at ORG ""The stock is getting a little extended on a short-term basis.""
Traders seem to agree. CARDINAL technology trader said he has now covered a short position in ORG. ""I think the move has probably been overdone short-term, but on a valuation, it is a lot cheaper than a lot of tech stocks,"" the trader said. ""The way it's been trading, it's got a little more to go.""
However some more bearish analysts point out that since PERSON and PERSON upped their price tagets on ORG's stock price, neither analyst increased earnings estimates.  
PERSON, a ORG analyst, said that he believes some of DATE and DATE earnings estimates on Wall Street for the world's largest computer maker are too high.
""Obviously they have done a good job financially, but it's going to be a lot tougher for them going forward,"" Smith said, adding that he believes ORG has already seen the biggest positive swing in its earnings it will get from its transition to lower-cost mainframe computers based on ORG technology.
When ORG was in the midst of a huge losses, a management upheaval and restructuring, and its ORDINAL dividend cuts in DATE, its shares sunk to a low of DATE, where it gained the moniker of ""I've Been Mugged"" by many traders on Wall Street.
Now, with a steady stream of profits and many bullish views by analysts, some market analysts are again viewing the stock as a bellwether that is also helping fuel movements in the Dow Jones Industrial average.","A break-in at ORG World Wide Web site DATE highlighted the Internet's continued vulnerability to hackers.
Unidentified hackers gained access to the department's web page on DATE and replaced it with a hate-filled diatribe labelled ORG"" that included a swastika and a picture of ORG.
Justice officials quickly pulled the plug on the vandalised page, but the security flaws that allowed hackers to gain entry likely exist in CARDINAL of other corporate and government web sites, security experts said.
""The vast majority of sites are vulnerable,"" said PERSON, senior analyst at ORG. ""ORG shouldn't be singled out.""
ORG officials said the compromised web site was not connected to any computers containing sensitive files. The web site (http://www.usdoj.gov) included copies of press releases, speeches and other publicly available information.
The security breach ""is just like graffiti on the outside of the building,"" spokesman PERSON said.
Other organisations have been targeted in the past. DATE, the Nation of ORG's Million Man DATE web site was vandalised. And hackers make CARDINAL attempts DATE to break into GPE military computers, according to a ORG report.
ORG recently found security flaws at web sites of a CARDINAL major corporations. ""The web is spectacularly insecure,"" editor PERSON said. Relying on security holes that had been documented by software manufacturers DATE, the magazine's specialists were able to gain various degrees of unauthorised access at the different sites.
PERSON said hackers who are exploiting some of the same flaws are motivated by anger over the growth and commercialization of the Internet. ""A common theme is that hackers are fed up with non-hackers on the Internet,"" he said.
The battle is not completely hopeless. ""You can secure a web site,"" PERSON said. ""There's all kinds of measures you can take. Most corporations and institutions don't take them simply because nothing bad has happened to them yet.""
Some sites are using multiple layers of security, well beyond simple password protection, to keep hackers out.
CARDINAL site mentioned by ORG was ORG. ORG's site advertises its mutual funds and disseminates information about personal finance but does not contain confidential customer information.
ORG officials immediately closed the loophole identified by the magazine, a spokeswoman said. But multiple security measures previously in place would have prevented a security breach despite the hole, the spokeswoman added.",0
"Prime Minister PERSON on DATE said the DATE NORP state budget, to be presented to the full cabinet in DATE, plans an overall spending increase of PERCENT.
Speaking to reporters after a working session of economics ministers, ORG also said he did not expect inflation to fall PERCENT DATE.
The monetarist economist ORG, who has said a balanced budget is the ""WORK_OF_ART"" of his government, said spending increases would be largest in percentage terms for export supports, regional transportation, and housing.
He said the total expenditure side DATE would rise CARDINAL czech crowns (MONEY) over expected DATE spending to MONEY crowns. The ministers were to discuss the revenue side of the budget later in DATE.
Finance Minister PERSON said the full cabinet should get the full draft for discussion on DATE. When asked if there was talk among ministers of anything excpet a balanced budget ORG replied tersely ""No"".
The government's draft budget has traditionally been debated and passed by DATE.
ORG's government has passed CARDINAL straight balanced budgets, although it will discuss a plan on DATE to cut DATE spending by MONEY crowns in order to balance this DATE's ledger.
Klaus said the expenditure figures were still subject to further discussion but he did not expect major changes. Fixed manadatory expenditures are forecast rising by PERCENT while discressionary spending would rise PERCENT.
Klaus added that state sector wages were planned to rise a nominal PERCENT in DATE, and he hoped that it would set an example for private sector budget planning.
""(The government) wants to send a message which would lead to a certain stoppage of the pace of wage increases also in the non-budget (private sector) sphere,"" ORG said.
DATE the central bank warned of inflationary wage rises not being matched by increases in productivity.
Klaus also said that he did not expect DATE inflation to fall PERCENT, which was the government's target for lowering inflation in DATE.
""Unfortunately we don't expect a number lower than eight (percent),"" he said.
He did not elaborate on if he meant average or DATE inflation. For budget purposes, however, the government usually speaks in terms of average inflation.
NORP year-on-year inflation stood at PERCENT in DATE, while the moving average stood at PERCENT.
The government in passing the DATE budget forecast inflation for DATE of PERCENT, but strong domestic demand has kept prices higher.
($MONEY NORP PRODUCT)","NORP telephone operator SPT Telecom a.s. on DATE said its DATE gross profit hit CARDINAL crowns, in line with analysts predictions and likely to have little effect on the firm's share price.
SPT said in a statement that revenues for DATE totalled CARDINAL crowns, nearly equal to the CARDINAL crowns in total revenues for DATE.
SPT's DATE gross profit was CARDINAL crowns. All figures are calculated according to ORG (ORG).
SPT shares closed down CARDINAL crowns at CARDINAL on ORG on DATE, though dealers said the results came out after trading ended for DATE.
""The figures were basically in line with our estimates. Margins are pretty much the same as they were in DATE so I think the company is in a good position for future growth,"" said PERSON an analyst at ORG.
The statement added the number of lines installed accelerated in DATE, putting the year-to-date figure at CARDINAL lines and the overall installed base at CARDINAL lines.
""The company is confident that it will achieve its DATE target of CARDINAL new set lines,"" the statement said.
SPT, of which a NORP-Swiss consortium comprised of ORG and ORG bought a PERCENT stake DATE, is aiming to increase the network by another CARDINAL lines in DATE, and CARDINAL in DATE.
The statement said that investment expenditures for DATE totalled MONEY crowns, ""more than the full year DATE capital expenditure.
""If they hit the target of CARDINAL new lines it would be a pretty good base as far as revenues are concerned,"" said CARDINAL local telecom analyst.
Analysts said that the figures would probably not have an immediate effect on SPT's share price, since the entire NORP capital market is in a downturn as investors avoid a market they characterise as plagued with a lack of transparency.
Company officials have been adamant that SPT would not pay a dividend before DATE, as profits would still have to be ploughed back into the network's modernisation.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"ORG DATE reported brisk sales of minivans and pickup trucks for DATE, pushing total GPE sales for the automaker up PERCENT on a DATE selling basis to CARDINAL.
The DATE total broke a company record for DATE of CARDINAL set in DATE.
Sales of light trucks, including popular ORG pickups and CARDINAL-door minivans were CARDINAL, a PERCENT jump that marked the ORDINAL consecutive month of rising light truck sales.
Domestically produced car sales came in weaker than some analysts had expected, falling PERCENT to CARDINAL units.
ORG's strong light truck sales were helped by incentives on some ORG sport utility models. PRODUCT sales rose PERCENT; PRODUCT was up PERCENT; and PERSON sales shot up PERCENT.
Total pickup sales were held back somewhat by low supplies of the ORG, which is undergoing a model changeover. Dealers have a DATE supply of the compact pickups -- CARDINAL of what the industry considers to be ideal.
ORG executives said they did not expect significant volumes of the new ORG to be available until DATE.
PERSON, executive director of sales and marketing operations, said ORG was not concerned about the slide in car sales. Total car sales were down PERCENT from DATE, and off PERCENT from DATE.
DATE is often a seasonally weaker DATE, ORG said. Also, declines in ORG were partly attributable to model-year changeovers.
""Frankly, we saw our cars starting to firm up as DATE went on, and we think we'll have a pretty good month in DATE,"" said ORG, adding DATE car sales will likely surpass those of DATE.
ORG said the No. CARDINAL automaker was pleased with the breadth of its sales performance.
""What we see is a very even, consistent demand pattern,"" he said. ""Consumer sentiment seems to be not euphoric but consistent.""
Although car sales were slightly weaker, ORG analyst PERSON said ORG's total numbers were still respectable because it was up against a strong DATE performance.
ORG was the only one of the major automakers to report DATE sales on DATE. ORG is scheduled to repoort sales DATE. Ward predicted it will post sales that are PERCENT below DATE, with light trucks again offsetting weak car numbers.
Also on DATE, ORG, a unit of ORG, reported GPE sales up PERCENT to CARDINAL. ORG Cars of LOC, a unit of ORG had DATE sales of CARDINAL, down PERCENT.","The engines have started in the race to succeed PERSON for the top office at ORG
The company on DATE promoted CARDINAL longtime ORG executives to positions that will allow them to prove if they are worthy of occupying CARDINAL or more of the top spots at GPE's No. CARDINAL automaker.  
PERSON, DATE, was promoted to vice chairman from executive vice president, and put in charge of a new auto components organization with CARDINAL employees and revenues of MONEY.
PERSON, DATE, previously group vice president in charge of product development, was named to PERSON's old job of heading up ORG (ORG), the company's core car and truck business.  
Speculation has swirled for DATE about how ORG's board of directors plans to handle the succession of NORP, who currently holds the titles of chairman, chief executive officer and president. Trotman reaches the mandatory retirement age of CARDINAL in DATE, but the board can ask him to stay on.
Complicating matters is the prospect of a ORG family member returning to a top role for the ORDINAL time since DATE. Recent reports have said PERSON, DATE, a great- grandson of company founder PERSON, could be named a non- executive chairman, or chairman, when PERSON leaves.  
PERSON, a retired professor of management at ORG, said ORG's assignment at the head of the new parts organization could turn into a high-profile spot, and it should not be read as a demotion.
""It's the CARDINAL thing that PERSON needs under his belt to give him the experience he needs to run the company,"" said PERSON, a long-time observer of the Big Three GPE automakers.  
PERSON has worked at ORG PRODUCT as PERSON. Born in GPE and raised in GPE, PERSON joined the company in DATE as a financial analyst. He rose through several international assignments, earning a reputation as a ""no- nonsense petrol head.""
While Hagenlocker is stiff in front of the media, PERSON moves easily among reporters, entertaining them with colorful stories about cricket and his globe-trotting life abroad.  
PERSON of industry consultant ORG in GPE, GPE, said ORG's new role also offers him a chance to demonstrate his abilities at running the company.
""It clearly puts PERSON in a position to take over from NORP when he retires,"" said PERSON.
For his part, PERSON was circumspect about the succession question at a news briefing DATE, saying it was the board's decision. Asked if the board is actively working on the issue, NORP responded: ""Absolutely, in depth and frequently -- and has been for DATE.""",1
"Entergy Corp on DATE called off talks with NORP regional electricity company (Rec) ORG but the GPE firm said it was still keeing an eye on the electricity sector, which has seen a recent flurry of bids and rumours.
In a statement responding to newspaper reports it planned a QUANTITY (MONEY) takeover of ORG said exploratory discussions had taken place but had been discontinued.
""We continue to evaluate attractive markets and investment opportunities worldwide and consider the GPE electricity market to be in that category,"" Entergy spokesman PERSON said.
Shares in GPE, which had surged higher on the bid reports, slipped to a low of MONEY but later climbed back to MONEY, down CARDINAL.
""What (Entergy is) saying is that the talks with ORG have ended. That doesn't mean they've ruled out a hostile bid for ORG, PERSON, or another,"" said ORG analyst PERSON.
Recent interest has seen CARDINAL of the CARDINAL remaining PERSON attract GPE predators -- ORG is fighting ORG's MONEY bid and LOC has agreed to a MONEY offer by ORG.
CARDINAL of the original CARDINAL cash-rich PERSON have already been sold, CARDINAL of them to GPE companies which are attracted by the looser regulatory system in the GPE.
DATE, Entergy denied a report in the DATE Telegraph newspaper that it was interested in bidding for PERSON, considered the most attractive of the remaining NORP.
ORG, which has so far kept out of this round of bid speculation, avoided takeover by NORP generator ORG when the government blocked the bid on competition grounds in DATE.
The company then went on to make an offer itself for its cousin ORG but was pipped by power company ORG with a QUANTITY bid.
The latest CARDINAL bids for GPE are clouded by concerns that political pressures might prompt a block, however, as the ruling NORP struggle to catch the opposition Labour party's lead in polls before a general election due by DATE.
The PERSON, which were privatised by the NORP in DATE, have triggered sharp public and opposition party criticism for big dividends, bulging executive pay packets and bumper takeover prices.
But companies may well consider chances of an approval for takeover more likely with a NORP government than from Labour, which already plans a ""windfall"" tax on utilities if it gains power.
""There's definitely a feeling that the window of opportunity is closing on these bids,"" said the sector analyst.
Analysts said there could be other GPE companies looking at the sector, adding that PERSON remained one of the most attractive for a predator.
Industry watchdog PERSON completed consultation on ORG's bid on DATE while the closing date for comments on ORG's offer is DATE.
Trade secretary PERSON has a ORDINAL deadline for deciding on ORG's bid of DATE, analysts said, but might extend it to DATE. ($MONEY Pound)","GPE's ORG stole a march on competitors on DATE by becoming the ORDINAL supermarket to launch banking services in a link with ORG, which analysts said may prove to be a money spinner.
""It could be a winner if it is done in the right way,"" said CARDINAL analyst who asked not to be identified.
Sainsbury said in a statement it had applied to ORG for authorisation for a new bank to be owned PERCENT by the company and PERCENT by ORG.
The venture, to be called ORG's Bank, will use telebanking for a range of deposit, lending and cash management services to CARDINAL customers, the company said.
It will kick off in DATE with the launch of PRODUCT and ORG cards along with account and card-based services.
""It certainly shows ORG is alive and kicking, which we had begun to doubt,"" CARDINAL sector analyst said.
Sainsbury, which turned in its ORDINAL fall in profits for DATE, was forced to launch its GPE loyalty card in DATE after arch-rival ORG pipped it to market leader with its ORG, and it has been struggling to regain the intiative.
Tesco pre-empted GPE's launch by introducing its PRODUCT account which allowed shoppers to build up credit balances with favourable rates of interest to be used in its stores.
But ORG's move ""makes PRODUCT look a bit of a damp squib,"" the analyst said.
""The bank plan has certainly cheered the market up, the initial reaction is clearly positive,"" the sector analyst said.
Sainsbury shares closed up MONEY at MONEY, off a high of MONEY while ORG was up MONEY to MONEY, off a high of MONEY.
""The market wanted to see them doing something and this is certainly a pleasant surprise,"" the analyst said.
Sainsbury chairman PERSON said that ORG would give customers ""the reassurance of a name they know and trust, coupled with the banking expertise of ORG.""
The move will result in ""a compelling alternative to the conventional high street bank or building society for ORG's customers,"" said ORG chief executive PERSON.
Analysts warned, however, that ORG would have to offer attractive deals to secure customers, many of whom already have bank accounts.
""It has to undercut the competition or link banking up to GPE points, a lot will depend on the marketing,"" the sector analyst said.
CARDINAL analyst warned that the financial services of retailer ORGamp; PERSON, although not directly comparable, made only a small contribution to profits even though it had been running for DATE.
""They will have to decide to really go for it if they are going to make it profitable,"" he said.
And analysts said the market would still look for progress in its core grocery business sales when ORG reports interim results on DATE.
Analysts forecasts for DATE pre-tax profits range from MONEY (MONEY) to MONEY, compared with CARDINAL previously.
($MONEY Pound)",1
"NORP Telecom DATE formally announced its agreement to acquire the rest of GPE long distance phone company ORG, creating a worldwide telecommunications powerhouse.
The merged company, to be called ORG, creates the world's ORDINAL-largest telecommunications group, behind GPE's ORG, and presents a powerful rival to GPE leader NORP
NORP Telecom already owned PERCENT of GPE,D.C.-based ORG, the No. CARDINAL GPE long telecommunications company. The deal values all of ORG at a total MONEY, but as ORG already owns PERCENT, it will issue Concert stock and cash worth MONEY for PERCENT it does not own.
The deal would be the largest between a NORP and NORP company.
Analysts said a combined company would be a good fit in the ultra-competitive GPE long-distance phone industry, where ORG's major competitors are ORG and ORG. ORG, which would be the hardest hit by a financially muscular enlarged rival, said DATE it was confident any ORG/NORP Telecom deal would receive proper scrutiny by the GPE government.
Concert Plc would be one of the world's largest telecommunications companies, with CARDINAL business and residential customers in CARDINAL countries.
""The complementary strengths and skills of ORG and ORG will enable PERSON to take full advantage of the great opportunities provided by the forthcoming liberalisation of the telecommunications market in the GPE and LOC,"" said Sir PERSON, ORG chairman.
""This is an industry with a voracious appetite for capital,"" PERSON, ORG president and chief operating officer, told a news conference in GPE. ""We have been living and working together for DATE ... we know our strengths and weaknesses ... I believe we will be a winning team.""
ORG and ORG were to hold another news conference at TIME in GPE.
Under the terms of the agreement, which has yet to be approved by regulatory authorities on either side of the LOC, ORG shareholders would receive CARDINAL new ORG in the new combined group for every ORG share. Each PERSON ADS is equivalent to CARDINAL ORG and $MONEY cash.
ORG ADSs closed at $MONEY in GPE on DATE, giving a value of $MONEY per ORG share, plus $MONEY in cash per share before the effect of a buyback by ORG that is part of the deal, ORG Chief Financial Officer PERSON told ORG.
NORP Telecom said PERSON will buy back PERCENT of its shares after the deal closes. The maximum buyback would increase the value of the deal to ORG shareholders to $MONEY per ORG share. ORG's stock closed DATE at $MONEY on ORG.
The new company, incorporated in GPE, would have headquarters in GPE and GPE and operate under ORG and ORG brand names.
NORP Telecom has been looking for a major acquisition since its proposed merger with NORP rival ORG and ORG failed in May. It had been keen to forge that deal because it would have given it access to the lucrative NORP telecoms market -- the world's fastest-growing market.
Analysts now expect ORG and ORG to start making overtures to major NORP players such as GPE's giant ORG and ORG
CARDINAL potential problem is a media joint venture between ORG and PERSON ORG NORP Telecom would end up with ORG's PERCENT non-voting stake in ORG, and this could cause regulatory difficulties in GPE, analysts say.","Emaciated refining margins and soaring demand have forced GPE to raise domestic prices on gasoil effective DATE, NORP oil sources said.
Sinopec earlier confirmed the ex-refinery price for diesel, or gasoil, was being raised to MONEY per tonne from MONEY.
This is the ORDINAL time prices have been raised since ceilings on domestic refined product prices were introduced in DATE to lock in margins for domestic refiners.  
""If prices are not raised, refineries, especially those along the coast cannot survive,"" a trader with state refiner ORG said by telephone.
""Refineries have lobbied for a long time for prices to be raised,"" he said, adding mainland refiners had been reeling from soaring crude bills DATE.
NORP refiners have been holding back importS of crude oil in international markets DATE.  
Prompt prices of LOC, a global benchmark, are currently $MONEY per barrel. DATE they hit a DATE high of $MONEY per barrel -- representing a PERCENT rise in prices from the low of DATE of $MONEY.
NORP benchmark ORG crude is currently valued at DATE highs of $MONEY per barrel -- a PERCENT increase on the DATE low of $MONEY.
NORP refineries have also been afflicted by a MONEY increase in domestic crude prices since DATE to CARDINAL per tonne.  
Sources said it was not immediately clear whether prices of other petroleum products would move up in tandem as GPE had initially been reluctant to approve the diesel increase due to fear of causing an inflationary backlash.
Other Sinopec sources said the move may be intended to encourage domestic production of more gasoil, over higher-valued products such as gasoline.
""Sales of gasoil are very brisk, the moment it's out it's sold, refineries are just not producing enough to satisfy demand,"" a source with the coastal GPE refinery said.
--Hong PERSON (CARDINAL) DATE",0
"Born as the world's ORDINAL airborne crop-dusting service, ORG may be on the verge of an alliance that would make it the industry's top gun.
ORG and ORG, both quoting sources familiar with the discussions, reported that ORG and ORG have been talking about a merger for DATE. The ORG said a deal was not imminent.
Should GPE-based ORG merge with ORG, the new company would be the world's largest carrier.
The newspaper reports contained few financial details, but Standard and Poor's Corp. said it may change its ratings on ORG and ORG debt based on the reports of the talks.
A merger would fill gaps in each carrier's routes and create a powerhouse that would be certain to draw attention of regulators in GPE.
Both companies declined to comment on the reported talks.
Delta, the nation's No. CARDINAL carrier, had a historic DATE. GPE, where ORG has a major hub, hosted EVENT attended by CARDINAL who flew on the airline, which posted its best earnings for DATE, MONEY, on revenues of MONEY.
But ORG, which moved to GPE in DATE and helped transform the sleepy NORP city into a business center after EVENT, still faces stiff competition.
In addition to its traditional rivals such as ORG, the nation's largest carrier, and No. ORG, it also faces newer, low-cost rivals such as ORG..
In the talks with GPE-based ORG, ORG may be trying to get a headstart on another possible round of mergers in the industry. Carriers flush with cash from DATE of solid earnings could seek mergers in a slow-growth business.
ORG itself has long been a buyer of rivals.
Started DATE as GPE-Daland Dusters to combat the boll weevil, the company bought GPE and ORG in DATE and spread its routes into the LOC, LOC, GPE and the LOC.
DATE, in DATE, ORG moved into LOC and GPE by acquiring ORG. Its ORDINAL LOC flights, to GPE, began in DATE. It bought ORG in DATE.
By DATE, international routes accounted for PERCENT of ORG's revenues and the company formed alliances with ORG and ORG.
In DATE, it launched a computer-reservation service, GPE, in a venture with ORG and ORG, to compete with NORP, the dominant reservations system PERCENT owned by ORG parent ORG .
The following year LOC cherry-picked planes, airport gates, routes and other properties from troubled ORG and ORG as the economy weakened, concluding a troubled MONEY purchase of ORG in DATE.
Like most of the industry, ORG posted losses in DATE.","Taking mortgage-backed securities as a model, trucking giant ORG is bargaining with CARDINAL banks on possibly creating securitized financial offerings on CARDINAL leased trucks DATE.
A ORDINAL offering of securitized truck leases could come DATE and all offerings could total MONEY by DATE, ORG chief financial officer PERSON told ORG.  
""We're thinking of taking a package of leases and selling them,"" PERSON said. ""It's a variation of mortgage-backed securities.""
Huston said no deal, which would be an innovation among trucking services groups, had been agreed and warned an unforseeen issue could block the plan.
""We've talked to a number of banks and we are on the verge of selecting one,"" he said.
He declined to identify which banks ORG was considering. ORG is currently a leading finance source for ORG, PERSON said.  
Ryder DATE announced it would take a MONEY pre-tax charge against DATE and DATE results to pay for a restructuring, early-retirment and layoffs. The moves affect some CARDINAL people and should yield savings in DATE of MONEY for ORG and MONEY DATE afterwards, PERSON said.
The charge was bigger than Wall Street expected, ORG analyst PERSON said.
""It reflects a conviction by management to change things .... Shareholders really want to see some changes and some of them are losing faith in the story. The onus has been put on management to deliver results,"" he said.
""We are encouraged by their conviction. They seem to be in earnest,"" PERSON said.  
Ryder, which DATE agreed to sell its consumer-truck rental operations, now buys CARDINAL each year. CARDINAL of those would be suitable for lease-backed securitization, PERSON said.
Ryder, he said, may be able to free equity by the lease-backed offerings and get lower costs because lease-backed offerings typically get better ratings than company debt instruments.
Ryder now has single A and A- ratings on its debt and might secure a triple A rating on its lease-back offerings, PERSON said.
Shares of ORG were up CARDINAL to CARDINAL.
-- GPE newsroom, CARDINAL-374-5013.",1
"GPE, seeking a larger role in helping to fold former LOC countries into ORG, believes it is better to integrate, and not isolate, fringe candidates like GPE and GPE, a senior NORP diplomat said.
During an official visit to GPE, Undersecretary for Foreign Affairs PERSON told reporters late on DATE that GPE, as part of its new focus he called ""NORP Ostpolitik"", saw CARDINAL countries as primary candidates for ORG's expansion.
""The position of GPE...is that the group of countries which definitely belong to ORG is GPE, GPE, GPE and GPE,"" he said, but added: ""There's also a possiblity that GPE and GPE belong to that group.""
He said it was important for GPE and GPE to implement agreements with GPE aimed mainly at protecting the rights of ethnic NORP living in both countries.
PERSON said that before the West says ""no"" to GPE and GPE it was necessary to determine carefully whether they meet ORG's standards of democracy, but he added:
""If a country is integrated then we also have the right to require it to meet standards of the organisation it has joined.
""If it's isolated we can't demand anything,"" he said.
Both the ORG and GPE have repeatedly lambasted ORG's government for slow democratic reforms and adopting laws threating to political opponents and ethnic minorities saying they might delay membership into ""Western structures"".
PERSON said it would be more useful to put fringe countries like ORG into the fold where more pressure can be applied.
""It is true that GPE is having problems fulfilling democratic principles, but the question is, 'Do we isolate ORG or integrate ORG?'. I believe it is more useful to integrate it,"" he said. REUTER","DATE, CARDINAL company led the market for an exciting new technology called groupware, which enabled workers at different locations to use computers to collaborate on business projects.
But the rise of the Internet has changed all that, creating new opportunities for using such software more widely and setting the battleground for a clash for a share of CARDINAL of the fastest-growing markets in the personal computer industry.
The market is driven by corporations' desire to use cheaper, easier-to-use Internet technologies to tie together far-flung and incompatible computing systems, a market some now estimate may reach MONEY by DATE.
The trend has helped fuel the explosive growth of ORG, which burst onto the public market in DATE and has been turning its focus to using Internet technologies in the lucrative corporate market for building the internal networks known as intranets.
Intranets use relatively inexpensive software to link together people across an organisation and allow access to information via a common interface, or browser.
WORK_OF_ART's abrupt rise jolted software giant ORG, which has been rushing to incorporate Internet technology throughout its products, and ORG ORG, which pioneered the groupware market with its ORG products.
At ORG, the computer industry's largest trade show, all CARDINAL companies have unveiled strategies aimed at attracting major corporate customers to their products.
Lotus, which is trying to revive its early lead with its PERSON computer network software and a package of collaborative programmes like spreadsheets and word processors, promises to use ORG's deep pockets to fund its campaign.
The battle DATE is expected to be even more intense than the skirmish DATE between ORG and PRODUCT over ORG's entry into the Web browser market, in which PRODUCT retains a PERCENT stake.
""If they thought the browser war was bloody, just wait,"" ORG President PERSON said DATE. ""This will be a whole new level of bloodiness.""
Although ORG has moved to add Internet features while slashing prices on its software for the PRODUCT market, the MONEY in research and development spending it touts is only a fraction of ORG's MONEY-plus total research and development budget in DATE alone.
And while ORG officials privately say they would rather have the problem of reducing prices dramatically than having to build sophisticated corporate networke systems from scratch, new Internet technology offers compelling savings.
Netscape Chief Executive PERSON, in his keynote address at ORG on DATE, identified some corporate customers who he said had reported PERCENT return on investment by deploying intranets using PRODUCT products.
ORG Chief Executive PERSON said his company will focus its resources on lowering the cost of corporate computing DATE with the same intensity it applied DATE in adapting Internet technologies.
Analysts said that by bundling many of its Internet-based technologies with its latest operating systems, ORG may have an upper hand in releasing new products and with customers who are committed to remaining on the leading edge.
But even in the personal computing market where ORG's operating systems dominate, CARDINAL of company machines run the latest versions of ORG PRODUCT software needed to fully utilize its groupware features, they add.
""It's less a competition for (software) suite sales than it is for corporate dollars,"" said ORGamp; Co. analyst PERSON, who sees CARDINAL paths for corporate customers.
One set may chose to upgrade all its software to the latest ORG products, including ORG's newly launched Office 97 suite.
ORG said this option is costly.
Another set of customers, ORG said, could chose to keep their investment in existing computers and, using ORG's products on the CARDINAL different systems it supports, build a system combining these machines relatively quickly.",0
"ORG and ORG said DATE they plan to beef up their technology partnership to speed development of higher speed QUANTITY modems for central switch equipment.
The CARDINAL kilobit modems would allow computer users to connect to the Internet at speeds nearly double the rate of current QUANTITY modems now available using standard phone lines.
The deal builds on a DATE product development partnership between ORG and ORG. ORG is a unit of ORG  
ORG central site switch equipment would give the receiving end -- phone carriers, Internet Service Providers (ISPs) and corporate central offices -- the capacity to handle incoming calls from computers with QUANTITY modems.
""It increases the market scope of ORG's CARDINAL offering,"" said ORG analyst PERSON of ORG's QUANTITY plans. He maintains a buy rating on ORG.
However, ORGamp; ORG analyst PERSON said the ORG pact was a defensive response to a GPE Robotics Inc initiative already well under way by the company to offer its own set of QUANTITY products.  
In the ORG pact, ORG will contribute its PRODUCT modem chipset to the venture, while ORG will offer its ORG technology, a software interface that other equipment providers license to build their own modems.
To speed CARDINAL development, ORG said it is opening an LOC development center with CARDINAL ORG engineers working alongside ORG staff. The center will initially be at ORG's headquarters in GPE, GPE. ORG is based in GPE, GPE  
As part of the partnership, ORG and ORG are working together to drive standards development of a new high speed modem standard that would incorporate ORG's ORG (ORG) standard.
Modems based on the ORG chip design would not be compatible with those from Robotics until an industry-wide standard for compatability can be hammered out, which no industry player seriously expects before DATE.  
In the intervening period, modems based on ORG's standard will work only with central office switches from partners such as ORG, while Robotics modems will work only with equipment offered by backers of its standard.
GPE Robotics has licensed its QUANTITY technology to chipmakers ORG and ORG and to modem supplier Cardinal Technologies Inc CRTK.O.
Robotics plans to introduce QUANTITY modems in DATE and remote access equipment in DATE, a spokeswoman said.
PERSON's own QUANTITY plans have been slower getting off the ground, but the company has said it too plans to introduce new CARDINAL modems in DATE.  
Nonetheless, ORG's technology has been embraced by ORG and consumer modem makers ORG, Hayes Microcomputer Inc and ORG, who are unhappy doing business with rival GPE Robotics PERSON, the dominant consumer modem supplier.
ORG said it plans to incorporate the ORG K56Plus technology into central site modem systems that it sells both directly and indirectly, through partnerships with ORG, ORG, ORG and ORG INc.  
ORG officials said they expect ORG modems to be adopted by many network equipment makers who fear relying on ORG, which is seen as a competitive threat.
ORG said products based the ORG design will be available for test and evaluation early in DATE and that finished products will ship in central site and remote modem equipment by late in DATE.
Thayer argued the schism over standards should buy time for the ORG camp and may allow it to gain market share from Robotics due to ORG's wider base of support.
""They should have a fairly high share of CARDINAL kilobit market over time,"" PERSON said of the ORG partnership.
However, ORG argues the market for QUANTITY modems will come largely from home computer users not office workers, who have access to other high-speed communications alternatives.
This plays to GPE Robotics' strength as an equipment supplier to a majority of the top CARDINAL Internet access providers aimed at consumers, like ORG and Netcom On-line ORG, ORG said.
-- GPE, CARDINAL-859-1736","In a move that would reshape the medical device business, ORG agreed DATE to make CARDINAL strategic transactions that would lift it into the top ranks of manufacturers of devices for regulating heartbeat.
The MONEY package of interlocking deals is costly and poses some risks, but likely will proceed, analysts said.
The stock of GPE, Minn.-based GPE fell $MONEY to CARDINAL after the announcement, while shares in other companies in the industry also fell.
The main thrust of GPE moves was an agreement to buy ORG in a stock swap valued at MONEY.
Ventritex, of GPE, GPE, is the smallest of CARDINAL companies that dominate the fast-growing, MONEY world market for implantable defibrillators, or ICDs -- electronic devices implanted in the chest and connected to the heart by wires to keep it from beating too rapidly.
""There's a small chance this won't go through, and the Street is also concerned about dilution. But I think this is perfect timing ... It's an idea whose time has come,"" said ORG medical technology analyst PERSON.
To resolve some long-standing legal actions and help free ORG from cross-licensing restrictions that have hobbled it for DATE, GPE is making CARDINAL smaller deals.
The company agreed to buy some assets from ORG, a unit of GPE's ORG; to acquire ORG, an LOC medical goods distributor also tied to ORG; and to buy certain intellectual property rights from the GPE unit of ORG, owned by NORP medical giant ORG.
""Part of the brilliance of this deal is bringing all these parties together,"" said ORG analyst PERSON.
GPE is the world's largest maker of heart valves, markets for which are growing, but slowly.
In search of growth and risk diversification, chief executive PERSON engineered GPE DATE acquisition for MONEY of ORG unit of GPE's ORG. The deal transformed GPE into a leading manufacturer of heart pacemakers.
Since then, rumours have swirled that GPE might acquire ORG -- a deal seen by many analysts as setting a capstone on GPE's efforts.
""If he pulls this off, it's the highlight of his career,"" said PERSON analyst PERSON.
Even with GPE careful efforts, analysts said legal action could ensue. The other CARDINAL main players in the ICD market -- ORG and ORG -- could seize the chance to drag GPE into the courtroom.
Shares in GPE-based ORG fell MONEY to $MONEY, while shares in GPE-based ORG dropped MONEYMONEY. Analysts said both fell on a perceived competitive threat from the St. Jude-Ventritex combination.
""ORG's world is getting more competitive, but I think they're less vulnerable than Guidant ... A hard rain is going to fall on GPE,"" PERSON said.",0
"There are no signs of slackening demand for new telephone lines or services like caller ID at the regional ORG and ORG, and earnings growth will remain robust in DATE.
""We are still seeing very strong demand for new services across the board,"" said PERSON of brokers ORG.
While regional ORG earnings growth is still above historic trends, ORG analyst PERSON expects DATE average annual growth of PERCENT to fall short of PERCENT set in DATE.  
Analysts' buy ratings generally favor ORG, with ORG, ORG and ORG company ORG close behind.
""Given continued strong growth in underlying operations, certain ORG stocks look attractive at the moment,"" said PERSON of ORG, whose favorites are ORG and ORG.
PERSON have badly trailed the broad market DATE after DATE bullish outperformance, hit by fears of stiffer competition in the new unified market place.  
ORG has made it clear that LAW of 1996 means ORG will have to face substantive competition before they can enter long distance markets in their own local calling regions.
ORG is an exception.  It already has long distance services in CARDINAL states and has CARDINAL customers.
""I'm sure you will see the effect of ORG long distance operations as a minor cost pressure,"" said PERSON.  She said it would take DATE for the service to break even.  
PERSON are operating under a more favorable regulatory regime than DATE, allowing them to cut costs without sharing the savings with consumers.
""With prices instead of earnings regulated, unit growth and cost reductions are flowing to the bottom line,"" PERSON said in a recent research report.
Company   (all in dollars)    Q3 est   yr ago  results date
Ameritech..................CARDINAL.......CARDINAL..Oct 15
SBC Communications.........CARDINAL.......CARDINAL..Oct CARDINAL
Bell Atlantic..............CARDINAL.......CARDINAL..Oct CARDINAL
BellSouth..................0.62.......0.56..Oct CARDINAL
ORG...................CARDINAL.......0.71..Oct CARDINAL
Pacific Telesis............0.68.......CARDINAL..Oct CARDINAL
ORG.................CARDINAL.......CARDINAL..Oct CARDINAL
GPE West Comms.......0.60.......0.59..Oct CARDINAL
NOTE: ORG.
Estimates from ORG. Reporting dates from analysts.  
Cellular and other wireless services continue to be a big money earners for the ORG, though increased price competition is expected during DATE as ORG (ORG) increase to CARDINAL from CARDINAL the number of wireless telephone providers in each metropolitan area.
Even the advent of CARDINAL mega mergers -- ORG and ORG and ORG -- announced DATE has done little to enliven the sector.
While the effect of competition is an unknown, cost cuts can be solidly charted.","ORG and ORG DATE formally announced their agreement for the NORP company to acquire the rest of ORG in a deal worth MONEY that will create a worldwide telecommunications powerhouse.
The merged company, to be called ORG, creates the world's ORDINAL-largest telecommunications group, behind GPE's ORG, and presents a powerful rival to GPE leader NORP
NORP Telecom already owned PERCENT of GPE,D.C.-based ORG, the No. CARDINAL GPE long telecommunications company. The deal values all of ORG at a total MONEY, but as ORG already owns PERCENT, it will issue Concert stock and cash worth MONEY for PERCENT it does not own.
The deal would be the largest between a NORP and NORP company.
""This is not a pebble we're throwing onto a quiet pool. It is a big rock, and it's going to make a big splash,"" Sir PERSON, chairman of ORG, told a news conference.
""Mergers don't always work, but this one will,"" WORK_OF_ART added.
Industry analysts said a combined company would be a good fit in the ultra-competitive GPE long-distance phone industry, where ORG's major competitors are ORG and ORG. ORG, which would be the hardest hit by a financially muscular enlarged rival, said DATE it was confident any ORG/NORP Telecom deal would receive proper scrutiny by the GPE government.
ORG Chief Executive PERSON said he was confident the combination with ORG would win the approval of federal regulators, noting that ""the GPE is the most competitive telecommunications market in the world.""
He added that the deal would result in lower expenditures for both companies because ""costs will be reduced by building networks once, not twice.""
In an attempt to keep CARDINAL step ahead of rivals as world telecoms markets are liberalised, ORG is taking on a partner with a powerful position in the world's biggest telecommunications market, generating PERCENT of the world's long-distance calls.
Concert Plc would be one of the world's largest telecommunications companies, with CARDINAL business and residential customers in CARDINAL countries.
""The complementary strengths and skills of ORG and ORG will enable PERSON to take full advantage of the great opportunities provided by the forthcoming liberalisation of the telecommunications market in the GPE and LOC,"" said Vallance.
""This is an industry with a voracious appetite for capital,"" PERSON, ORG president and chief operating officer, told an earlier news conference in GPE. ""We have been living and working together for DATE ... we know our strengths and weaknesses ... I believe we will be a winning team.""
Under the terms of the agreement, which has yet to be approved by regulatory authorities on either side of the LOC, ORG shareholders would receive CARDINAL new ORG in the new combined group for every ORG share. Each PERSON ADS is equivalent to CARDINAL ORG and $MONEY cash.
ORG ADSs closed at $MONEY in GPE on DATE, giving a value of $MONEY per ORG share, plus $MONEY in cash per share before the effect of a buyback by ORG that is part of the deal, ORG Chief Financial Officer PERSON told ORG.
NORP Telecom said PERSON will buy back PERCENT of its shares after the deal closes. The maximum buyback would increase the value of the deal to ORG shareholders to $MONEY per ORG share. ORG's stock closed DATE at $MONEY on ORG.
The new company, incorporated in GPE, would have headquarters in GPE and GPE and operate under ORG and ORG brand names.
NORP Telecom has been looking for a major acquisition since its proposed merger with NORP rival ORG and ORG failed in May. It had been keen to forge that deal because it would have given it access to the lucrative NORP telecoms market -- the world's fastest-growing market.
Analysts now expect ORG and ORG to start making overtures to major NORP players such as GPE's giant ORG and ORG
CARDINAL potential problem is a media joint venture between ORG and PERSON ORG NORP Telecom would end up with ORG's PERCENT non-voting stake in ORG, and this could cause regulatory difficulties in GPE, analysts say.",1
"GPE's listed companies must work to increase transparency and improve asset valuation if the country's fledgling markets are to gain global prominence, a top GPE securities official said in GPE on DATE.
PERSON, chairman of ORG, said he stressed in meetings with NORP officials the need for frank disclosure of company data as a crucial step in boosting investor confidence in NORP firms.
""I mentioned in every meeting over and over and over again the importance of transparency,"" PERSON told reporters.
""That's something that we can't emphasise enough: transparency, transparency, transparency,"" said PERSON, who is on a DATE visit to GPE.
Officials in NORP listed firms often saw the need for transparency but many were reluctant to disclose company data out of fears that such frankness would profit the competition, PERSON said.
NORP public firms needed to think of shareholders as owners of the company rather than as impediments to progress, he said.
Levitt said he had urged the NORP to swallow the bitter medicine of improved disclosure, effective regulation and cracking down on corruption to bolster investor confidence in what many businessmen were eyeing as a promising market.
""Their markets, just like every other market in the world, will be no better than public confidence is in that market,"" PERSON said.
Levitt said CARDINAL of GPE's most pressing tasks would be to draft a securities law that would serve as a guidepost for companies as well as regulatory agencies.
""The thing that business abhors more than anything else is uncertainty, or a lack of clarity,"" PERSON said.
The lacklustre performance of NORP companies that had listed on ORG reflected a lack of investor confidence in NORP accounting methods and asset valuation systems, he said.
""The process of evaluating assets in GPE is an uncertain process that concerns many investors,"" PERSON said.
Many NORP officials had been deeply disappointed by the slack overseas performance of NORP firms, prompting a DATE pause in the process of nurturing of NORP financial markets, he said.
""The NORP over DATE have been inner-directed, looking at the system, looking at the process and asking themselves what went wrong,"" he said, adding that reform had to continue.
""I tried to encourage everyone I talked to to stay the course, that the stakes were too high to turn around,"" PERSON said.
""This is a road that, once started on, there really is no turning back.""","ORG, the target of a MONEY hostile bid by rival ORG International is letting state authorities help mount its takeover defense.
So far, CARDINAL states, stretching from GPE to GPE, have launched antitrust investigations into the proposed transaction that would unite the CARDINAL largest funeral service companies in LOC, and Loewen has been quick to publicize their probes.
It is a defense strategy that has helped thwart other takeovers and mergers as states grow more more aggressive in challenging large transactions.
""The states are serious. Many of them have become quite knowledgable,"" said PERSON, a former member of ORG and now an antitrust expert at ORG.
But while state probes can certainly cause trouble for a friendly or hostile takeover, merger and antitrust experts said those investigations have rarely killed a deal.
""As a defense, it's got limited usage. It's hard to guarantee"" that it will be effective, said PERSON, co-head of mergers and acquisitions at ORG.
Instead, the probes tend to be most successful when the states team up with federal agencies to fight a deal. In the PERSON case, the proposed transaction also is being investigated by a NORP agency.
DATE, state authorities were credited with helping to scuttle toymaker ORG unsolicited bid for rival ORG
And, in DATE, state and federal complaints about antitrust implications of a friendly merger between drugstore giants ORG and ORG led to the collapse of that deal.
States typically become involved in mergers that would impact consumers, such as in the retail or banking sectors.
Since rejecting ORG bid, PERSON has used the state probes as part of its defense against the unwanted bid. DATE, GPE-based funeral services company announced that GPE was the latest state to launch an investigation of the proposed deal.
GPE officials said they had been unaware that Loewen had issued a news release about its probe.
""Loewen believes that the genie is out of the bottle in terms of government interest and there certainly is a precedent of attorney generals' looking at the situation and raising concerns, which ultimately derail those kinds of offers,"" said a spokesman for Loewen, adding that the company has been surprised by the level of state interest.
Loewen also has filed a federal antitrust lawsuit against ORGFor its part, ORG has rejected the antitrust argument and said that any potential problem could be resolved by divesting controversial properties.
Industry experts estimate a combined ORG would hold a PERCENT market share in the highly fragmented industry.
GPE, GPE and GPE are considered the most aggressive states in challenging mergers.
GPE has stepped up its merger probes since DATE and so far has investigated CARDINAL transactions DATE compared with CARDINAL in DATE and far fewer in the merger boom of DATE, said PERSON, head of the antitrust section at the GPE attorney general's office.
Merger experts also said that state attention to big mergers typically intensifies in DATE, when officials are trying to convince voters that they are committed to protecting public interest.",0
"NORP banks, already groaning under problem loans, are dangerously exposed to the volatile GPE stock market and a further drop in the market may finally force them into a blood-letting reorganisation, analysts say.
They say that if the weaker banks are to survive, they must trim the size of their less-profitable assets, including those overseas, cut their stock portfolios and reduce the number of their employees.
""Weak banks may be thrown into the sector-wide reorganisation unless they take a serious look at reality -- that the market is urging an aggressive restructuring, even if they have to cut the number of employees,"" said PERSON, ORDINAL vice-president at ORG
""If share prices in (weak) banks fall to very cheap levels, it might be easier for big banks to bail out those weaker banks through cheap mergers,"" he said.
Market sources said the recent NORP share price plunge has been led by active selling of shares in the banking sector, which represent DATE of ORG market capitalisation.
On DATE, the key Nikkei average of CARDINAL leading shares closed down CARDINAL points, or PERCENT, at DATE.
Even though the market recovered slightly DATE, the Nikkei is still down CARDINAL points since DATE on worries about the economy and a lack of government measures to prop it up.
NORP banks have traditionally held large chunks of shares in other companies, many of them customers. In the past, the unrealised profits on these holdings have helped burnish the banks' balance sheets and have provided a useful way of getting some of their problem loans off their books.
But the failure to tackle the problem more aggressively has in turn fueled scepticism about the soundness of the NORP banking system, triggering more selloffs in the stock market, analysts said.
The analysts said banks should try to raise their profitability by focusing on specialised business fields, by developing new financial instruments and by lending to smaller firms with prospects for future growth.
PERSON, an analyst at ORG, said: ""To convince investors, banks must take the extra step to restructure, but they have made no such effort so far.""
In DATE to DATE, GPE's then top CARDINAL banks used MONEY (MONEY) in net capital gains from the sale of equities to help dispose of MONEY (MONEY) of property-related problem loans, a legacy from DATE economic ""bubble"" era of inflated asset prices.
But the top banks still had MONEY (MONEY) of problem loans at DATE, ORG said.
ORG said on DATE that the sharp fall in NORP shares will affect financially weak banks.
ORG said while it is confident NORP authorities will keep the top CARDINAL banks from failing in the short term, it is concerned about a growing gap between the bailout cost and the limited resources available for the protection of depositors and senior debt holders. (MONEY)","ORG transport sector is likely to see more modest gains over DATE after a sharp rise over DATE, analysts said.
The transport index has risen PERCENT during DATE, while the broader market has increased PERCENT DATE.
""PERSON and PERSON's have had an extraordinary run over DATE, and the impression of the market is that they have reached their short term value,"" said PERSON, transport analyst at ORG.  
CARDINAL of the sector is made up by ORG and Mayne Nickless Ltd.
""In DATE the sector has outperformed quite significantly,"" ORG transport analyst PERSON said.
""It is outperforming because of a lot of stock specific issues,"" PERSON said.
""You look at Mayne - it's because of Optus and healthcare and if you look at GPE it's all to do with a turnaround in earnings,"" he said.
""If you look at ORG it is all to do with the bid,"" he said.  
ORG, which was seen as a laggard among the majors, has been taken over by NORP post and telecoms group ORG through its friendly MONEY bid.
PERSON plans to sell its PERCENT stake in ORG through the planned float of the telecommunications group in DATE, raising around MONEY.
Analysts said ORG share price has underperformed the transport sector, with the stock trading for most of DATE below its A$MONEY price at DATE.  
""If you look at ORG they have underperformed, but they represent good value at these levels,"" Mullholland said.
ORG shares are currently trading just above the A$MONEY price institutional investors paid for the shares in the DATE price.
However, analysts said that given the diverse operations of ORG and GPE the transport index is no longer seen by investors as a leading indicator of economic activity and therefore less attention is paid to the index.  
""I have always seen the transport index as a bit of a misnomer, it is kind of a diversified hybrid,"" Pru-Bache's Mullholland said.
If investors want pure exposure to the domestic transport sector they would have to look at medium sized groups Finemores ORG, ORG and Toll Holdings Ltd, analysts said.
""If you want to be in transport in GPE, you are better off looking at the medium sized players not the big players,"" CARDINAL GPE-based analyst said.  
Analysts said transport companies represent some leverage to a slower growing NORP economy. But this leverage is limited as much as the economic growth is seen in the service sector and not traded goods, which use transport.
""Economy growth is seen in telecommunications, media and entertainment and hardly any growth in the traded sector and that limited growth in the traded goods sector means that there isn't that much growth in the transport side,"" CARDINAL analyst said.  
Analysts said in the future the transport sector may start to represent more of a transport infrastructure index as GPE's federal and state governments are expected to privatise airports, railways and shipping ports over DATE.
The NORP government is expected to complete the ORDINAL phase of its airport privatisation programme in DATE with the sale of GPE, GPE and PERSON airports.
-- ORG CARDINAL-2 9373-1800",0
"The state of GPE has asked ORG to ban broadcast advertising of hard liquor, adding to the controversy over whether liquor ads should be allowed on television and radio.
Lawyers said the state's petition -- backed by former ORG General PERSON -- was significant.
It could be used at the least as a vehicle within the ORG to generate public debate on the issue, or as a catalyst leading to rules restricting broadcast liquor promotions.
""Whenever you have a state formally asking the ORG to step in, it legitimises the involvement of the commission for any 'doubting Thomases' that might remain,"" said attorney PERSON of ORGamp; ORG.
The ORG is divided over the issue. Chairman PERSON favours banning the ads if TV stations refuse to abide by a voluntary ban. But CARDINAL of the ORG's CARDINAL commissioners have doubts over the ORG's authority to act in the matter.
ORG officials have yet to decide how to handle the GPE request, which was submitted DATE but drew little notice. They also have not yet decided how to respond to a recent bipartisan request from CARDINAL members of ORG asking the ORG to open a formal investigation into broadcast liquor ads.
The split among commissioners has stymied action for now.
ORG has opened a formal investigation into alcoholic beverage advertising on TV, both for liquor and beer. It is training its sights for now on distiller PERSONamp; Sons and ORG Seagram is a subsidiary of GPE-based ORG
GPE, in its petition, asserted that the ORG does have the jurisdiction to act and called for speedy action.
""Advertising of distilled spirits on television and radio will inevitably increase the use of this potent drug among the nation's young people,"" GPE said in its petition, written by the state's attorney general, PERSON, and Assistant Attorney General PERSON.
The petition cited data showing that GPE's per-capita alcohol consumption was ORDINAL-highest in the nation in DATE.
GPE made its request after the nation's distillers DATE ended their DATE voluntary ban on broadcast ads. It had been in place since DATE for radio and DATE for TV.
In DATE, ORG began airing TV ads for its ORG whiskey in GPE.
Some dismissed GPE's bid.
""It's fair to say the GPE proposal and (the state's) alcohol problem have more to do with a lack of sunlight than whether ORG advertises for its whiskey,"" said attorney PERSON of Hogan & PERSON.
""An ORG ban of hard-liquor advertising would have a very hard chance of surviving judicial review,"" he added.
But others said a carefully crafted ORG proposal -- such as restricting the ads until after TIME or later -- could withstand judicial scrutiny. ""The courts have looked favourably on regulations designed to protect children,"" said attorney PERSON of ORGamp; ORG.
Lawyers said the ORG must decide what, if any, action it wants to take. Some within the ORG suggest putting the GPE and congressional requests out for public comment to allow the agency to learn more about the issue.
""Let's take it CARDINAL step at a time,"" said an ORG official.","Federal and state regulators raced DATE to finalise a multi-billion dollar proposal to ensure all NORP get quality and affordable phone service and that schools and libraries can hook up to the Internet.
An CARDINAL-member board of state regulators and members of ORG is trying to figure out the size of a federal fund to subsidise ""universal"" service.
Estimates range anywhere from MONEY a year. It could influence what consumers and businesses pay for their phone bills.
""Depending on how big the dollar figures are and what the recovery mechanism is, consumers may have something at stake,"" said PERSON of ORG.
The panel, established by the new telecommunications law, is scheduled to unveil its plans DATE. Several issues are at stake, some of which were unresolved at TIME.
""All the issues are still being discussed,"" said a state official requesting anonymity. ""There will be sections where we need further clarification on issues.""
Regulators must determine how local and long-distance companies, cable-TV operators, and other telecommunications carriers foot the bill to ensure that residents of secluded rural communities and poor inner-city areas get quality, affordable phone service.
They must spell out how the nation's schools and libraries will get hooked up to the Internet and at what cost.
And regulators must determine what roles the states and federal government will play in overseeing universal service.
The board must issue its recommendations to the ORG by DATE. The agency must then issue final rules by early May.
The nation's CARDINAL of local phone companies now provide universal service. It is funded in part via ""access"" charges that long-distance carriers such as ORG pay to hook up to the local phone network.
In DATE, local companies took in MONEY in interstate access charges. The CARDINAL regional PERSON received MONEY of that amount. Long-distance companies want those charges slashed.
Following are the issues the joint board is grappling with:
-- The extent to which schools and libraries should be hooked up to the Internet at discounted rates.
President PERSON has proposed giving these institutions free basic service, with the nation's communications carriers paying the tab. Members of the joint board disagree on whether every school, or every classroom, should be wired.
There also is disagreement over what discounts schools and libraries should receive.
-- The type of funding mechanism that would be used to pay for universal service. The telecom law requires that companies offering interstate phone service -- or virtually all carriers -- must foot the bill for universal service in an ""equitable and non-discriminatory"" manner.
A national fund will be established to pay for universal service. State regulators want the ability to establish and oversee their own funds as well. Those funds would be backed by intrastate phone revenues.
-- How to ensure phone service to low-income consumers. Poor NORP currently receive subsidised service through CARDINAL plans, ""WORK_OF_ART"" and ""WORK_OF_ART."" Both are expected to be retained, expanded and improved.
-- How to determine the cost of subsidies for companies that offer phone service in high-cost, out-of-the-way areas such as rural communities.
The joint board has been examining whether to calculate such costs based on existing costs of providing such service, or a new model spelling out different ""proxy"" prices that would be used as a reference by regulators. The proxy prices would influence how much subsidies carriers would receive.",1
"ORG will issue final rules on DATE to implement its new policy on export of computer encoding products, but the proposal is unlikely to mollify the software industry and privacy advocates who objected to a draft version.
Some changes were made in the final rules, available DATE at a government printing office, from the earlier draft. But the bulk of the proposal remains the same, including portions strongly criticized by the software industry that applied to real-time communications.
ORG undersecretary PERSON had said DATE that the draft rules would be modestly revised, but warned that some objections could not be addressed.
Under the previous rules dating from EVENT, the administration severely limited the export of products containing encryption, programs that use mathematical formulas to scramble information and render it unreadable without a password or software ""key.""
In the past, products could be exported using ""keys"" as long as CARDINAL digital bits, a string of CARDINAL ones and CARDINAL. But as the speed of computers has grown, CARDINAL-bit keys have become easy to crack and longer keys have come into general use.
At the same time, with the growth of the Internet and online commerce, demand for encryption-capable products is growing worldwide. Coded messages can keep a business' e-mail confidential or protect a consumer's credit card number sent on the Internet.
ORG rules were intended as a compromise, allowing GPE companies to compete in the encryption market while protecting the interests of law enforcement officials.
The policy relies on so-called key recovery features which allow government officials to decode encrypted messages when acting under proper legal authority.
Under the policy to be issued DATE, products containing key recovery features will be eligible for export after a CARDINAL-time review.
Software firms had hoped the key recovery exception would only apply to stored data, like a document on a hard drive. But the final rules, like the draft rules, also require key recovery for real-time data transamission such as coded phone calls.
Non-key recovery software with keys of CARDINAL bits will be exportable under DATE, renewable licenses until DATE, but only if the manufacturer commits to producing software with key recovery by then.
Some companies had complained that the government was asking for too much information about their future plans, but the final rules still require submission of detailed plans and committments.
All other encryption products, such as state-of-the art CARDINAL-bit software without key recovery features, would continue to be treated as munitions. Such products include ordinary e-mail programs and even the recently introduced set-top box for surfing the Internet with a television.
The rules deleted a draft provision allowing keys to be stored with a recovery agent located outside of GPE.
The final rules also made clear that an applicant's public support of the administration's policy would not be a factor in export license decisions. Rather, helping build the necessary infrastructure would be a factor, the final rules said.
A criteria listed as ""public support for a key management infrastructure,"" was changed to ""or other support for the key management infrastructure.""","NORP gold mining giant ORG on DATE announced plans to expand its presence in LOC through takeover offers worth a total of MONEY for CARDINAL NORP-listed gold miners.
GPE launched takeover offers for GPE (ORG) miner ORG and a mop-up offer for its NORP offshoot ORG
If GPE succeeds with both bids it will have control of ORG's biggest gold mine. ORG's Porgera mine is expected to produce QUANTITY of gold in calendar DATE.
""It (the takeover) recognises the prospectivity that we see of the LOC and our desire to take full advantage of any opportunities that exist here,"" said PERSON chief executive officer PERSON.
However, there were no plans to acquire more assets in LOC, he said. However, ORG has stepped up its exploration activity in LOC in DATE with programmes in GPE, GPE and the GPE.
The takeover bids were well received by investors on the NORP share market, with both Highlands and ORG shares soaring in active trade on the bid announcements, which were made before DATE's market open.
However, the bids were not so welcomed by Highlands, which said ORG offer of MONEY (US$MONEY) for each Highlands shares was inadequate. However, ORG was more coy, it advised shareholders to take no action on the bid.
The GPE-based ORG was partly floated in DATE by its parent, which in turn now plans to buy-out the rest of PERCENT it does not own through a share swap of CARDINAL FAC share for every CARDINAL ORG shares.
Placer Dome, a GPE-based miner and CARDINAL of the world's top CARDINAL gold producers, plans to finance its MONEY Highlands purchase through the issue of prefered shares.
""When we are done with this acquisition assuming it goes ahead, we will have debt of MONEY and equity of MONEY,"" PERSON said
""We will then refinance the Highlands gold purchase through a preferred share issue and we look at asset sales to bring our equity close to MONEY and with debt below MONEY, we will be well within our range on a debt-to-equity basis.""
Highlands has stakes in CARDINAL potentially large mining projects in ORG. The Nena/Frieda River copper/gold project and the PERSON nickel-cobalt deposit, both projects are estimated to cost a total of MONEY to develop.
In regards to Highlands non-gold assets, PERSON said: ""We don't know much about them or what we are going to do with them, to develop them, sell them, or swap them.""
NORP gold analysts said the NORP gold miner was likely to succeed with its CARDINAL bids. ""I think they will walk it in,"" said PERSON, gold mining analyst at ORG.
Analysts said the offers are probably opportunistic, given that ORG and Highlands share prices were both DATE above ORG offer prices. But both have fallen with the gold price, which is currently around DATE lows.
Highlands shares closed MONEY or PERCENT higher at MONEY, GPE has amassed a PERCENT stake in GPE over DATE. ORG shares closed MONEY or PERCENT higher at A$MONEY with CARDINAL shares traded.
(A$MONEY=US$0.80)",0
"ORG said DATE it could still make other acquisitions while it is completing its MONEY merger with ORG
""While this will be an active project for us beginning DATE, it doesn't mean that we don't have additional capacity to continue,"" PERSON, PERSON's group president in charge of mergers and acquisitions, said in an interview.
Beirise noted that not all of PERSON will be involved in the acquisition of GPE-based PERSON, so acquisitions in other geographic locations might be possible. He also said PERSON has been an active acquirer, and so is adept at assimilating mergers.
GPE-based ORG, with MONEY in assets, currently has CARDINAL mergers pending.
The Mark Twain deal, announced DATE and expected to close in DATE, is an exchange of shares valued at $MONEY per PERSON share, based on DATE's closing price, the banks said.  
That works out to CARDINAL times PERSON book value, a price PERSON conceded was lofty for banks in general.
""In general it is, yes, but not many banks earn 1.8 (return) on assets,"" he said. PERSON reported return on average assets of PERCENT in DATE, well above average for LOC banks.
Beirise said PERSON was not considering its potential as a takeover target when it made the deal to acquire PERSON. Mercantile, the ORDINAL largest bank holding company in GPE behind GPE's ORG, has been mentioned by analysts as an acquisition target for banks trying to expand their LOC presence. GPE's agreed in DATE to be acquired by ORG
Beirise said as long as the bank delivered value for shareholders, it would be a difficult takeover target.
""Someone would have to make the case that we're not doing the job,"" PERSON said. ""We think as long as we're doing the job, we are the best value for our shareholders.""
--Reuters GPE newsdesk, CARDINAL-408-8787","ORG planned acquisition of ORG is not likely to alter the GPE-based bank holding company's own potential to be acquired, analysts said.
""It certainly doesn't make them any less attractive or likely as a takeover candidate,"" said PERSON, a banking industry analyst at ORG.
Magna is among several GPE-based banks considered by analysts to be likely acquisition targets.  
""I don't think it probably changes the company either way too much"" in terms of takeover prospects, said PERSON, a banking analyst at ORG.
Still, with GPE's limit on how much of the state's total deposits a single banking company can hold, PERSON's acquisition of GPE-based ORG could prevent some potential buyers from swallowing up GPE, analysts noted.
""It could complicate it, because GPE does have relatively low state cap,"" PERSON said. ""But it doesn't necessarily mean it was done as a defensive measure.""  
PERSON's initial reading of the proposed deal is that it will add to PERSON's earnings in DATE, DATE the deal is expected to close.
""We believe it could be MONEY accretive, maybe more,"" PERSON said, cautioning that this was a preliminary view of the deal.
Magna said in a news release the deal would be accretive within DATE.
Other analysts noted that GPE has a relatively high ratio of equity to assets and said paying CARDINAL times book value for GPE might be a bit expensive. ORG's ratio of equity to assets was PERCENT in DATE.
The price of ""PERCENT) of book could be pretty generous if you've got an overcapitalized bank,"" said PERSON, banking analyst at FAC.
""It sounds like a pretty big price,"" agreed PERSON.
Magna was down CARDINAL at DATE DATE TIME, while PERSON was up CARDINAL at CARDINAL.
--Reuters GPE newsdesk, CARDINAL-408-8787",1
"GPE's rule-bound markets must be fully deregulated to ensure that the nation does not fall further behind in the global finance business, an influential reform panel said on DATE in an interim report.
Establishing markets to effectively manage MONEY (MONEY) of individual assets through deregulation is particularly important ahead of a rapid rise in the proportion of old people, key panel member PERSON said.
""Unless GPE speeds up restructuring of the financial system, it will be left behind in global competition even more than now, particularly asset management services,"" Ikeo, a professor at ORG in GPE, told reporters.
The proposal includes abolition of all rules on the range of businesses which units of banks and brokers are allowed to engage in by DATE in DATE.
It also recommended a fundamental revision in ORG and liberalisation of commissions on stockbroking, as well as lifting an almost DATE ban on holding companies, which control CARDINAL or more companies, often through a majority stake.
Ikeo said the panel, made up of private-sector figures and academics, focused on benefits for consumers and put aside an expected negative impact on existing financial firms.
Although the panel was urging total deregulation in the financial industry, ORG said, if there was a need for rules in exceptional cases, they should be clearly written in financial laws so bureaucrats would not need to intervene.
In the past, deregulation plans were drawn up by bureaucrats in powerful ministries such as finance, trade and construction, which have carefully guarded industries they surpervise. But these have been slow in getting results, and criticism from GPE and other major trading partners has continued.
Prime Minister PERSON's government has wanted to step up efforts to cut bureaucratic red tape to boost the fragile economy, because its high-cost structure is making the country less attractive to investors.
The panel, set up in DATE by ORG, comprises CARDINAL subcommittees focusing on finance, information technology, distribution, land, employment and medicine.
The subcommittees on land, distribution and medicine presented proposals DATE and the CARDINAL on employment and medicine unveiled recommendations separately on DATE, all of which called for sweeping reform in each field.
The proposals will become an outline for the advisory council's final recommendation to the prime minister, which will be made in DATE after the council hears the opinions of bureaucrats on each issue.
Panel chairman PERSON told a news conference that he wanted to ensure that the panel's efforts would not be a ""total waste of energy"".
""The ministries concerned all agree that they are heading in the direction outlined in the reports, but when it comes to specifics, they said they still have different opinions,"" Minaguchi said.
ORG officials were also cautious about the future of the proposals by the panel, however, as any action taken may hinge on the outcome of general elections set for DATE.
""It is not clear how ministers in the new government to be formed will treat those proposals,"" an ORG official said.
PERSON, also a key member of the panel, said, however, that any delay in overhauling laws relating to employment would be ""suicidal"".
While the number of workers would rapidly fall after DATE, GPE still uses employment laws established DATE. ""If we don't start (reform and deregulation), immediately, it would be suicidal,"" GPE said. (MONEY)","ORG Chief Financial Officer PERSON said he expected earnings and revenues to rise sequentially in DATE compared with the just-ended second quarter.
PERSON said in an interview he expects the recent release of Office CARDINAL to provide a ""nice step"" up in earnings in DATE from the $MONEY a share reported for DATE, and he sees a ""small sequential step up"" in DATE.
PERSON also said he expected revenues and earnings growth in the PERCENT range for DATE.  
""It doesn't seem wise to get beyond that with data we have DATE,"" he said.
Brown said he was pleased with the record results of the just-ended second quarter, which he said was strong ""across the board.""
But he said the company thought it was prudent to issue a warning about slower growth in DATE, when ORG will not enjoy the benefit of major revenue-enhancing upgrades such as Windows 95 DATE and Office DATE.  
While the company does have an opportunity to boost its OEM revenue with the increasing penetration of the high-end Windows NT operating system, which generates more revenue per unit than Windows 95, PERSON said he expected that to be more significant in DATE.
""It's just a good time to be a little bit realistic about DATE,"" he said.
Brown said he expected research and development spending to continue to grow faster than revenues in DATE, although he declined to be specific. He noted that the company's R&D spending now exceeds an DATE rate of MONEY, and he expected that to exceed MONEY ""at some point"" in the future, putting pressure on profit margins.
He said while the company has reduced its cost of goods sold DATE, it is unlikely to be able to reduce them much further DATE.
But he said the company could continue to reduce its sales and marketing expenses as a percentage of revenues.
PERSON also said the company's cash position spiked up in DATE, in part because of a hedging transaction connected with its stock option program. ((-- ORG GPE bureau CARDINAL-386-4848))",0
"Former ORG executive PERSON, who acted as an informant in an antitrust case against the company, DATE sued ORG, seeking back wages and punitive damages.
In a lawsuit filed in GPE ORG, PERSON also formally denied charges previously brought by ORG that he allegedly stole MONEY from the agribusiness company.
""ORG's claim that PERSON was fired for embezzlement is merely a pretext,"" the lawsuit says.
""PERSON was in fact fired for assisting the ORG (ORG) with its investigation into ORG,"" the lawsuit continues.
DATE, ORG pleaded guilty to CARDINAL counts of fixing prices of lysine, a feed additive and citric acid, which is used in food and beverages. It agreed to pay MONEY in fines, a record for GPE antitrust cases.
In his lawsuit, ORG seeks a judgment against ORG of MONEY and punitive damages of MONEY. Potential damages, if awarded, could be much greater, perhaps in the MONEY, sources close to the case said.
In DATE, PERSON had said he planned to file an MONEY wrongful discharge lawsuit against ORG.
Legal experts said it is common practice in lawsuits to seek damages above or MONEY.
ADM did not respond to requests for comment on the lawsuit.
In his lawsuit, PERSON is claiming lost wages from DATE, when he was fired as president of ORG's ORG, until DATE, when he was hired as chief executive officere of ORG
Whitacre earned $MONEY a year at ORG plus stock options.
In his lawsuit, PERSON charged ORG with denying him the right to exercise company stock options, defamation of his character and mental and emotional distress.
PERSON has admitted to attempting suicide DATE after his role as an ORG mole became known.
He also said he was forced to sell his home in the GPE, GPE, area for MONEY, even though it had been recently appraised for MONEY. ORG said in the lawsuit he had invested MONEY on the home.
PERSON is now a resident of GPE, GPE
His attorneys, PERSON of ORGamp; ORG, GPE, and PERSON of GPE, GPE, were not immediately available to comment.
The lawsuit was not handled by GPE attorney PERSON of the firm Epstein, ORGamp; GPE, who has been representing EVENT. Asked if he has fired WORK_OF_ART from the case, PERSON replied, ""no comment.""
Epstein was not available to comment.","ORG got hit by a lawsuit charging it violated securities laws after the auto-loan company said phony bookkeeping entries had inflated its earnings and that it fired its chief accountant.
The stock, which remained halted on ORG, has not traded since it closed at $MONEY on DATE.
The exchange would not indicate where the stock might open but traders said it was changing hands at $MONEY overseas, which would mean a loss of MONEY in market worth for the company, based in suburban GPE, GPE
One of the officers named in the lawsuit was PERSON, the former controller who ORG said has not been seen since DATE. In its statement on DATE, ORG said it fired PERSON.
Filed in federal court in GPE on DATE, the lawsuit alleges the company and some senior officers misrepresented or omitted crucial information about ORG's earnings for DATE, lawyers who filed the suit said in a statement.
The lawsuit also said PERSON had sold CARDINAL and Chairman PERSON CARDINAL of shares of ORG stock at inflated prices, netting MONEY in illegal profits.
PERSON was not available for comment. A company spokesman declined to comment. Attempts to locate PERSON were not successful.
The finance company said on DATE earnings would be restated to MONEY from MONEY and that earnings for the DATE would also adjusted downward, though not as sharply.
The problems appeared to stem from unauthorised entries in financial records by its chief accounting officer, PERSON, the company said.
It also said it was in violation of certain provisions if its loan agreements and that a special committee of directors has been formed to investigate the problems.
Analysts were hesitant to talk about ORG, saying they did not have much information.
But they did say the company's planned acquisition of ORG from ORG was unlikely to be completed. The deal, announced on DATE, called for ORG to issue MONEY in stock to ORG. ORG said on DATE it was awaiting an audit of ORG.
""I think the odds are very high that the deal will not go through,"" CARDINAL analyst said, who asked not to be identified.
Analysts also said ORG has not been as forthcoming as other consumer finance companies when providing detailed financial information.
ORG helped pioneer the business of lending to consumers whose credit was less than perfect. It started making loans to people in the military and has grown into one of the country's largest lenders in the used-car market.
""They haven't been quite as open as any others in the industry have been,"" CARDINAL analyst said.
CARDINAL brokerage firms cut ratings on ORG DATE.
ORGamp; Co. said it suspended its rating, adding, ""We recommend that holders exit positions as soon as possible.""
Piper Jaffray cut its rating to market performer from buy and in a research report said, ""Our guess is most of the over recognised income came from (ORG's) insurance subsidiary.""",0
"GPE's futures markets, which fell deeper into the gloom of official disapproval in DATE, look set for an even tighter year in DATE with some small exchanges likely to be swallowed by bigger ones, analysts said on DATE.
There is still no sign of the long-awaited PERSON being unveiled, but the analysts said the securities authorities have promised some new regulations in DATE to provide a stronger regulatory basis for futures trading.
The markets, set up in DATE, quickly became casinos with huge trading on commodities with often very small physical quantities for delivery, making the use of the markets for hedging -- the original purpose -- virtually impossible, analysts said.
In DATE, trading volumes on GPE's futures exchanges have plummeted in the face of a relentless campaign by the securities authorities in GPE to squeeze speculative activity out of the markets.
""The official measures, especially the ban on many institutions from trading futures, have pushed large amounts of money out of the markets and dramatically pulled down trading volumes on most exchanges,"" a local futures analyst said.
ORG, which is the least speculative of the CARDINAL futures exchanges left open, expects total trade volume of MONEY in DATE, down from MONEY in DATE and a high of MONEY in DATE, an exchange official said.
The authorities have ruthlessly hounded the speculative ""hot money"" which used to chase its way round from GPE red beans to GPE green beans and GPE coffee, and have largely succeeded in killing the enthusiasm of speculators for futures.
In DATE, ORG ORG (CSRC) banned securities brokerages, trust and investment firms and state-run enterprises from trading commodities futures, forcing many traders out of the industry, traders said.
All commodity futures exchanges have been ordered to cap DATE price movements and total holdings.
In DATE, the ORG also abolished limits on the total amounts of goods for physical delivery, which was used to make it possible for wealthy institutions to build up huge long positions and then short-squeeze the market.
""GPE has stressed restrictions rather than development for the futures markets because officials are angry about the repeated violations of rules and rampant irregularities,"" a local trader for metal futures said.
""No new money is coming into the futures markets,"" he added. ""There are several safer investment methods, such as stocks and treasure bonds. Why take the extra policy risk?""
""Few people will pay much more attention to GPE's futures markets until the long-awaited PERSON is introduced, which will indicate that the government has accepted the industry,"" a ORDINAL trader said.
""It will still take some time for WORK_OF_ART to be completed,"" a local exchange official said. ""But the ORG has said it will announce CARDINAL new rules for the industry in DATE to fill up the regulatory vacuum.""
Analysts said some of GPE's CARDINAL existing futures exchanges will probably be closed down, merged or taken over in DATE as the authorities continue their efforts to clean up the industry.
It is believed the authorities want to end up with CARDINAL big exchanges.
In DATE, GPE's securities authorities ordered ORG to merge with ORG, which was seen as the ORDINAL of an expected series of mergers of exchanges, the analysts said.
""There are too many exchanges in GPE with most of them trading similar contracts and trading volumes for most contracts are too thin for hedging,"" a GPE-based dealer said.","DATE stern crackdown on GPE's stock markets has increased the speculative instinct of investors to trade on rumours of policy shifts rather than on fundamentals, analysts said DATE.
The share markets started their latest bull run in DATE when GPE announced it would support the markets.
Rumours and guesses about GPE's attitude and plans have been the primary trading factor ever since, the analysts said.
While the GPE authorities have been trying to convince investors to look more at long-term investment based on the fundamentals of the economy and of individual companies, they again chose an old-fashioned means of reining in the markets.
""The crackdown has shown again the risk of policy changes for GPE's stock markets,"" said an executive with a major NORP securities house.
""Policy changes have been a very hot speculative topic in the past and the use of administrative orders like this to cool down the markets will make them an even hotter topic in the long run,"" he added.
GPE DATE charged that GPE's CARDINAL stock markets in GPE and GPE were overheated and warned that GPE would not come to investors' rescue if the markets crashed.
""The action has cooled speculative activity for now,"" said an analyst with a foreign brokerage in GPE. ""But the investment pattern has not changed. It is still political issues which drive the stock market up and down.""
In the shake-out DATE, investors generally took refuge in blue-chip shares and dumped the so-called ""rubbish shares"" that have soared in DATE on the basis of little more than an impression that GPE wanted the markets up.
Analysts said market psychology could have been better influenced if the authorities had pulled share prices back down using market means such as the issue of more shares or the listing of some state or institutional shares.
CARDINAL key problem of the NORP stock markets is the lack of suitable supervisory mechanisms and regulations, leading to widespread irregularities such as share price manipulation and the use of credit for stock trading, the analysts said.
""With a stock market law lacking and regulations incomplete, many trading activities are in a legal no-man's land, making it difficult to check irregularities,"" said CARDINAL analyst.
The draft Securities Law, the topic of hot debate in the corridors of power in GPE for DATE, is not expected to be enacted any time soon, due partly to differences over who will have the final say on securities policy, the analysts said.
Responsibility for securities policy at present overlaps between ORG under ORG (cabinet), ORG and ORG, or central bank.
GPE's domestic A share index rose CARDINAL points or PERCENT on DATE to end at CARDINAL after losing PERCENT in DATE trading. The foreign currency B share index was up CARDINAL points or PERCENT to CARDINAL.
In GPE, the A share index fell CARDINAL points or PERCENT to CARDINAL, while the B share index soared PERCENT or CARDINAL points to CARDINAL.",1
"ORG said on DATE that it expected ""substantial"" peak sales in excess of MONEY for its new asthma treatment GPE and schizophrenia drug Seroquel.
In an interview with ORG, chief executive PERSON said: ""Our benchmark for a substantial product is one that has sales of MONEY plus, and both of those have that potential.""
Barnes also painted an upbeat picure of prospects for GPE, the migraine treatment obtained DATE by NORP from its newly-merged rival ORG.
Some analysts had questioned whether ORG and ORG -- which represent treatment breakthroughs in their repsective categories but also face potentially stiff competition -- would prove to be major sellers.
Accolate is the ORDINAL of a new generation of asthma drugs taken in tablet form which will aim to erode the market share of inhaled steroids. The drugs, known as leukotreine antagonists, are designed to prevent or reduce the severity of asthma attacks rather than relieve existing attacks.
""WORK_OF_ART for the treatment of asthma has been simple tablet formulation,"" said Barnes.
Accolate was launched in the GPE, where steroid-based inhaled asthma drugs have never been as accepted as in LOC, in DATE. Although he declined to give details of sales, Barnes said ""experience has been encouraging,"" and added ""sales are fully up to our expectations.""
""One of the most gratifying things has been the level of physician interest generated by the launch of GPE,"" said Barnes, adding that the company had received ""a large number"" of inquiries from GPE doctors about Accolate.
TIME NORP announced a PERCENT expansion of its GPE sales force to help it deal with a rush of product launches, including the possible launch of Seroquel and Zomig DATE.
""The migraine market is growing very fast indeed, it's a substantial market, and so far as one is able to judge from clinical data GPE has faster onset of action and maybe more consistent results than the leading product , (ORG) PERSON. I think it has substantial potential.""
Barnes said GPE's new prostate cancer drug PERSON continued ""to make very exciting progress"" in DATE, taking PERCENT of new prescriptions in the GPE and was ""ahead of our forecasts.""
MONEY worth of Casodex was sold in DATE. The drug, which is currently approved for combination therapy, is being tested for use as monotherapy and for use at earlier stages of the disease.
""We now know that Casodex will be a bigger product than we thought in DATE (when PERSON was demerged from ORG ) and it will be a substantially bigger product than most analysts thought in DATE,"" said Barnes.
PERSON +44 CARDINAL 7717","GPE expects a shortfall of QUANTITY of grain DATE -- equal to PERCENT of the nation's needs and significantly worse than expected, a ORG official said on DATE.
DATE, aid workers had estimated the food shortage would be QUANTITY.
""Their shortages are serious...they (NORP officials) have not been able to meet the DATE food ration,"" said PERSON, representative of ORG and ORG in GPE capital of GPE.
""This is bad news, really bad news in a country that already doesn't have much now,"" Gronning said by telephone.
He said farmers whose crops had been wiped out by devastating floods in DATE had eaten QUANTITY of grain before it came to maturity, adding this would worsen the food shortage DATE.
GPE has faced the spectre of famine since DATE after the floods destroyed QUANTITY of grain, compounding damage from widespread floods in DATE.
Official figures showed GPE would need QUANTITY of grain DATE, but this DATE's harvest had yielded QUANTITY, ORG said.
The federation was trying to raise MONEY for a new programme to buy grain to stave off hunger for CARDINAL NORP badly hit by the floods, he said.
""In some of the villages and the valleys we are now going into, they were working on repairing the damage from the DATE floods and then they got hit once again,"" he said.
""They have lost everything, including houses, livestock and so on,"" he said.
The DATE floods had submerged large tracts of arable land for DATE. Some of that land was now covered in sand and mud and could not be farmed again.
""The ORDINAL floods left people in a really bad situation,"" Gronning said. ""People will be running out of food in DATE.""
The federation would work with ORG to distribute a DATE ration of QUANTITY (QUANTITY) of grain and a helping of supplementary foods such as soybeans to each person, he said.
Aid workers would try to provide stricken residents with winter clothes and blankets to brace against winter temperatures that could drop as low as minus 20 degrees Celsius, he said.
""Without enough food and without proper heating, these people are really badly off,"" he said.
GPE, despite its philosophy of self-reliance, cracked open the door to foreign aid DATE in the face of looming food shortages.
Gronning said the federation had appealed to member societies in LOC, LOC and GPE to donate money urgently needed to start buying grain and clothes.
""Hopefully, we will have the ORDINAL pledges very, very soon so we can start purchasing,"" he said.",0
"Shipping boss PERSON emerged as the most vocally pro-China contender for GPE leadership on DATE as a GPE-controlled body wrapped up a DATE quiz of CARDINAL men vying to rule GPE after DATE.
ORG of CARDINAL rich or influential GPE people, who were picked under GPE's close supervision, will now ponder. But many believe GPE is the preordained winner.
The committee meets again on DATE to make its choice.
Tung shot off a volley of comments and answers to committee members underlining his loyalty to GPE, attacked the politics of NORP Governor PERSON, and even threw in a snub about the inauspicious qualities of PERSON's official residence.
GPE reverts to NORP rule at the stroke of DATE after DATE as a NORP colony.
GPE is turning the territory of CARDINAL people into GPE of communist GPE, pledging no change to its thriving capitalist system for DATE.
The committee's choice of a chief executive to succeed PERSON was obvious, the pro-business ORG said on DATE. ""We get the feeling that winner and loser in the chief executive contest is already decided,"" it said.
PERSON answers were all ""politically correct"", showing a ""cautious nature"" that suited the taste of GPE and many GPE people, the journal said.
In his remarks, PERSON jumped to GPE's defence and attacked an attempt by GPE DATE to introduce a pre-emptive soft subversion law before the DATE handover aimed at ensuring no GPE-style jailings of dissidents take place after DATE.
""It is up to the future government to draw up its own law on these matters,"" Tung said. ""WORK_OF_ART government will have to review these issues after the handover.""
Tung, DATE, who quit as head of the NORP Overseas shipping empire to bid for GPE leadership, has been tipped as GPE's favoured son since NORP President PERSON singled him out for a handshake in GPE in DATE.
In DATE of committee interrogation, much of which was broadcast live, GPE's rivals -- former chief judge PERSON and entrepreneur PERSON -- also gave voice to patriotism but were glaringly less pro-China in their utterances.
PERSON made clear he would not always bend with GPE's wind or whim, but would follow the letter of GPE law.
""I'm for PERSON because he's for justice,"" said a GPE NORP resident listening to the sessions on the radio.
""He's a fair man. He's not a merchant,"" he said, summing up a widely held view of the contest.
Tung said GPE might have to make sacrifices if GPE fell victim to political or diplomatic sanctions.
He stressed NORP cultural values and patriotic education and the need for less red tape, speedier land development approvals, a sell-off of low-price public housing to tenants, and setting an example of NORP reunification for GPE to follow later.
""I found it abominable...I found him more colonial than the colonial government,"" said legislator PERSON.
Tsang, whose ORG is boycotting the leadership contest, said ORG's rivals were no better. ""They are all foul grass growing from a foul jar,"" he said, using a colloquial NORP insult.
Tung also said he would not like to move into the governor's traditional residence DATE. ""I have heard ORG is crowded and the fung shui is not good.""
Many GPE NORP cling to fung shui, ""wind and water"", a mixture of science and superstition that people use to chart their lives, birthdays, weddings, business and burials.","A former top judge who is vying to lead GPE after GPE takes over DATE has said the territory needs a neutral and impartial leader rather than a well-connected tycoon, and one who is tolerant towards dissent.
""I'm for tolerance,"" PERSON, CARDINAL of CARDINAL candidates trying to become GPE ORDINAL chief executive after GPE hands the colony back to GPE at DATE, told ORG in an interview.
The DATE GPE-born former chief justice, who shed his NORP knighthood DATE, came through this DATE's ORDINAL round of voting by a CARDINAL-strong GPE-backed ORG with CARDINAL of the votes.
He was well behind frontrunner PERSON, a shipping tycoon with strong GPE links who scored CARDINAL votes, but ahead of another entrepreneur, PERSON, who scraped through with DATE.
Tung has often been depicted as GPE's favourite in the race. But PERSON, who has emerged as the people's favourite in some recent opinion polls, and once with a lead of CARDINAL percentage points, is battling on, even though there will be no public vote for the top post.
""Of course the votes indicated that certainly the ORG favours GPE much more than they favour me. It's an uphill battle. It's not easy. But I think there's still hope,"" PERSON said.
Over DATE candidates will be quizzed by committee members on their policies ahead of their final vote on DATE.
Asked if the committee was likely to heed his popularity with the public, PERSON said: ""I think to a certain extent it will. I don't think they will follow the poll to the letter. If there's a vast difference shown between candidates in the polls, the committee will have to take note.""
PERSON's campaign headquarters is a modest, cramped office rented in a hotel, in marked contrast the plush executive suites occupied by GPE. The ""campaign"" is a crusade to lobby business and interest groups, not the general public.
PERSON described his greatest strength in comparison with PERSON as his long experience as a fair, unbiased arbiter.
""I have no business connections or political connections ... having been a judge for DATE. I am somebody above politics, above connections, neutral, impartial, as opposed to somebody who is very much in business and whose contact with the NORP government is very good,"" he said.
""I think anybody who has a huge network with other people does give rise to the problem as to whether, if eventually selected, he might not be perceived to be influenced by these connections when making a decision.""
PERSON said GPE future leader would not face a test of courage in standing up to GPE's communist rulers to resist pressure for a crackdown on anti-communist dissenters and pro-democracy activists.
""It's not a question of being brave or not brave. It's a question of looking at the letter of the law and seeing what it allows,"" he said. ""I want to be on the side of tolerance.""
He said he hoped a law on sedition, treason and subversion required by GPE would not be enacted by the controversial interim legislature that GPE plans to install at the handover, but by a new long-term legislature to be elected in DATE.
PERSON also said he believed ORG, which has long operated underground and behind the scenes in GPE, should register as a party under local law if it planned to be active in the territory after DATE.",1
"Shares on most central and eastern NORP bourses gained ground DATE though there were some indications the upturn may be short-lived.
Exchanges in GPE, GPE, GPE, Bratislava and Bucharest all rose, while GPE and GPE traded mixed. PERSON was the CARDINAL gray cloud, posting slight losses.
The Central European Share Index (ORG) which reflects the price movements of CARDINAL selected NORP, NORP and NORP shares, firmed CARDINAL points.
PRAGUE
NORP share prices were mostly steady on ORG throughout DATE, with little movement expected soon as DATE slowly winds up.
The ORG index edged up CARDINAL points from DATE to close at CARDINAL on DATE.
Leading trading were SPT Telecom and PERSON, though SPT's movements were largely characterised as ""accounting procedures"" that saw the issue gain as much as CARDINAL crowns CARDINAL session, only to lose the same amount the following day.
""The final price (of SPT) was not the real market price, but because average prices are not used for the close, it gives an artificial final number,"" said PERSON of ORG. SPT closed on DATE at CARDINAL crowns.
Dealers have long-complained that some market participants consistently manipulate prices on the bourse, a fact that to cloud foreign investor perceptions of the NORP market.
WARSAW
NORP shares on DATE rose for the ORDINAL consecutive session but analysts said stronger selling after price-fixing showed the market was losing steam and made it unclear if the growth trend would continue.
""It seems we now have a tug-of-war between buyers and sellers,"" said PERSON, an analyst at ORG brokerage.
But some analysts said a real growth trend had already begun, sparked by firms releasing better DATE earnings at DATE. The ORG index closed at DATE points, up CARDINAL points or PERCENT from DATE close.
Analysts said recent systematic gains in higher turnovers by several large-cap stocks was a good sign that could help return the market toward this DATE's DATE, CARDINAL-point high DATE.
BUDAPEST
Prices rose at both of this DATE's sessions as market participants returned after holidays on DATE and DATE.
The rest of the market strengthened as investors were cheered because ORG had left interest rates steady.
""It's certainly due to the fact the GPE investors put money into the east NORP emerging markets,"" PERSON of ORG said. ""Optimism seems to have spread over investors after the danger of a rate hike was eliminated.""
The ORG index closed on DATE at CARDINAL, up CARDINAL points over DATE.
BRATISLAVA
ORG (ORG) saw DATE of listless holiday trading, with the ongoing struggle for strategic control over the country's largest investment fund, PERSON, dominating floor trading.
The CARDINAL-share ORG index posted several year-highs over DATE, peaking at CARDINAL points on DATE, and closing at CARDINAL points on DATE, slightly firmer from DATE's open.
""DATE was a transparent example, showing how the index is often far off from real trends on the market,"" PERSON of ORG said. ""The ORG has been reaching top levels, while only a few trades were concluded on the bourse on low volumes,"" he added.
SOFIA
No corporate issues traded for DATE in a row on the NORP stock market as investors turnede their attention to treasuries and foreign currency.
Only ORG (ORG) operated DATE after ORG (ORG) went into a DATE recess on DATE. The ORG will resume trading on DATE.
The CARDINAL-share ORG Index (RABSI) closed at CARDINAL points, unchanged from DATE.
BUCHAREST
NORP share prices posted gains DATE on the back of healthy DATE earnings reports by several firms but trading, dominated by retail investors, was modest in volume.
Overall turnover fell by CARDINAL lei to CARDINAL on DATE.
The unofficial ORG Index -- a value-weighted index of all stocks computed by ORG securities -- closed at CARDINAL points, CARDINAL points or PERCENT up on DATE. Its base was CARDINAL points when it was created DATE.
GPE
NORP stocks were mixed though DATE lull seemed to be nearing an end as big buyers became more active, boosting prices and prompting broker predictions of a steady rise in DATE to come.
Most active was PERSON which gained CARDINAL kuna since DATE, but other companies including foodprocessor PERSON also registered an increase of prices.
LJUBLJANA
In GPE, share prices, eased PERCENT as the ORG index fell CARDINAL points to CARDINAL.
Financial consultancy PERSON was the leading decliner, falling PERCENT, while the biggest gainer were prefered shares of bank ORG banka, firming PERCENT.
		    ORG     WEEK'S  ORG    1996 HIGH  DATE LOW
		    AUG 22	NET     PCT
 CESI	   CARDINAL    +66.11   +4.62    1,483.76     CARDINAL
 LAWCARDINAL	+3.6    +0.64	CARDINAL	CARDINAL
 WARSAW	DATE    +892.7    +7.0    14,282.2    7,725.2
 BUDAPEST     CARDINAL   +198.79   +6.27    3,380.53   CARDINAL
 BRATISLAVA     CARDINAL     +0.51   +0.23	CARDINAL     CARDINAL
 SOFIA	     41.31	CARDINAL   +0.00	 CARDINAL	CARDINAL
 LJUBLJANA	CARDINAL     -4.31   -0.47    1,589.18     CARDINAL
All-time high: ORG (DATE); SBI 1,598.02 (DATE); WIG CARDINAL (March 8/1994); LAW (DATE); CARDINAL (April 7/1994); RABSI CARDINAL (DATE); ORG (ORG).","NORP equity and forex markets pushed higher on DATE, buoyed by a strong showing by Prime Minister PERSON's rightwing ORG (ODS) in the ORDINAL round of ORG elections at DATE.
But analysts warned profit taking and uncertainty leading up to a ORDINAL round of voting DATE will temper gains.
ORG, mired in a DATE long slump that has felled the bourse by PERCENT, jumped CARDINAL points, or PERCENT, at its DATE price fixing to CARDINAL.
Brokers expressed muted optimism at the prospect that the rise was long-term, saying that domestic investors looking for a quick rise to profit from, and not key foreign investors were at the heart of the gain.
""There is very little foreign institutional buying as a result of the elections. It's mainly domestic buying. This was just the ORDINAL round and the (vote) isn't won yet,"" said PERSON of the brokerage ORG
PERSON of ORG added: ""We had expected some speculation on the outcome of the elections.
PRODUCT said the upsurge could continue into DATE and beyond if ORG sustains its strong position in the ORDINAL and final round DATE, adding that the results may give cause for the long awaited rebound in NORP equities. ""It is quite likely that this is the start of a trend,"" he said.
The crown also strengthened on the back of the election result, gaining around CARDINAL percentage points to PERCENT above its dollar/mark basket in early trading, before settling at PERCENT.
""Some of those who pushed the crown up in early dealing took profits, so its dropped slightly on the index,"" said PERSON, a trader at ORG.
""There will be some bias toward a stronger crown in DATE but I don't think there will be any major move -- the majority of the move was seen already DATE,"" he added.
The central bank fixed the crown at PERCENT above the basket midpoint on DATE, after fixing it at +2.45 percent on DATE.
In what was billed as a key test of the minority coalition government, ORG's ODS party took a commanding PERCENT of the ORDINAL round vote, with the opposition NORP (CSSD) trailing on PERCENT.
The result was a major improvement for the ORG, which won PERCENT in elections to the lower house in DATE when a strong NORP performance of PERCENT stripped ORG's CARDINAL-party coalition of its majority.
The rest of the vote was thinly split among coalition parties and the NORP.
The strong ODS showing was tempered though by poor turnout as only 35 percent of the electorate voted.
Of the CARDINAL ORG seats, NORP won CARDINAL outright in the ORDINAL round and CARDINAL of their candidates go into DATE runoff.
The CSSD meanwhile, will send CARDINAL candidates into the ORDINAL round of voting slated for DATE TIME and DATE TIME.",1
"LOC executives and venture capitalists are turning into political sharks, spending MONEY to defeat a GPE ballot measure that they claim threatens NORP capitalism and could send stock prices reeling.
Normally the region, which is the birthplace of such industry stalwarts as ORG and ORG, is more obsessed with Internet software tools and microchips than with politics.
But so widespread is the fear that GPE's Proposition 211 could make the state a haven for shareholder lawsuits that once politically neutral executives have been jolted into action -- hanging anti-211 banners on buildings and encouraging employees to vote against the initiative.
Proposition 211 is a far-reaching measure that would eliminate certain safeguards and immunity currently given corporate officers and staff members. For instance, it would hold them liable if they made projections about future results and they turned out to be wrong.
Opponents of the measure fear that corporate officers would stop making any projections about how their business was doing, making it more difficult to make investment decisions and leading to a decline in share prices.
Proponents argue it will help victims of fraud recover losses. Opponents charge it is an ""insidious"" bid by securities lawyers to line their own pockets.
There were signs the campaign against CARDINAL could affect the outcome. A ORG poll published DATE found PERCENT of likely voters now oppose it, up CARDINAL percentage points from a similar ORG poll DATE.
ORG Chairman PERSON has urged GPE voters to reject the measure, warning it would use the state's legal system to roll back the federal Private Securities Litigation Reform Act passed DATE.
""GPE state courts could become a magnet for class action suits,"" he wrote in a letter of opposition.
Both President PERSON and NORP presidential rival PERSON have come out against the measure and a recent study said its passage could result in a loss of CARDINAL jobs and a MONEY drop in GPE domestic output.
The study, by trade economist PERSON, also projected a subsequent rise in ""frivolous lawsuits"" could result in as much as a PERCENT drop in stock market prices.
This, he concluded, ""would far outweigh the MONEY per dollar compensation, or less, that shareholders would receive from settlements and judgments"" under the measure.
High-tech companies are considered more vulnerable to shareholder suits because their stocks typically are owned by demanding investors seeking fastest-growing companies, which can make their stock prices more volatile.
A recent survey by ORG of its members found CARDINAL would consider leaving the state if CARDINAL passes. Some economists estimated it would eliminate CARDINAL jobs and cost MONEY in GPE alone.
Even companies outside GPE, like ORG and software giant ORG have opposed the measure, concerned that a single GPE shareholder could bring suit against them.
If it passes, high tech leaders like venture capitalist PERSON, who is leading the MONEY-plus battle against CARDINAL, and ORG PERSON, have said they expect outside company directors to quit.
""If it passes, my net worth, my house, will be on the line,"" PERSON said at a recent public debate on the issue here. ""It's a sleazy trick,"" he added.
Proponents of CARDINAL, including lawyers who bring shareholder lawsuits and stand to benefit directly from it, said they drew up the measure after a business-led initiative in DATE was opposed by PERCENT of GPE voters.
""NORP are disgusted by corporate greed,"" said PERSON, an attorney speaking in favour of the measure recently. ""People are angry about massive layoffs.""
But in LOC, where high tech businesses have thrived, executives said the proposition was more geared to forcing corporations to settle shareholder suits up front.","GPE future leader PERSON is making plans to travel to major NORP countries in a bid to raise the profile of the territory and clear the air over important issues related to its sovereignty transfer.
The roadshow, still in the works and its timing dependent on PERSON's workload, could materialise before DATE, when the NORP colony of DATE reverts to NORP rule, his spokeswoman told ORG on DATE.
""Mr Tung's trip is to give a real picture of GPE. He feels some countries do not really understand the real situation in GPE,"" spokeswoman PERSON said by telephone.
""It would be DATE. If it is possible, before (DATE) but it depends on his workload,"" PERSON said, adding it would probably include GPE and some NORP countries.
The trip, which would be PERSON's ORDINAL outside GPE since being selected in DATE under close GPE supervision as the territory's ORDINAL post-handover chief, would focus on a wide range of issues related to GPE handover.
""He will not just talk on any particular issue, but a range, on all aspects that are important to GPE,"" PERSON said.
Tung, however, is expected to focus on what he has deemed to be misunderstandings in the LOC over an interim lawmaking chamber which GPE has vowed to install in place of GPE elected legislature upon the handover.
The CARDINAL-member provisional legislature was formed in DATE by a pro-China panel of CARDINAL, the same body which selected GPE as GPE first Chief Executive from DATE.
GPE NORP-run government has refused to cooperate with the body and the territory's pro-democracy camp, particularly the popular ORG, also opposes it.
At a public function on DATE, ORG said NORP countries, particularly the GPE, has not properly understood the provisional legislature and other important issues related to GPE handover.
""Mr Tung said he would try his utmost to promote GPE before DATE, and he hopes to clear all the misunderstandings now held by NORP countries,"" the GPE-funded ORG newspaper reported on DATE.
In his fiercest attack to date on critics of the provisional legislature, PERSON told them DATE to stop criticising the future lawmaking chamber when talking to Western leaders, adding their actions were a disservice to GPE.",0
"ORG said DATE it agreed to buy ORG, a publisher of children's education software, for MONEY in cash in a move to focus its consumer business on learning at home.
The world's largest computer maker said it would launch a tender offer for all of GPE at $MONEY a share. The company, based in GPE, GPE, where software giant ORG is based, makes software aimed at students in kindergarten through ORDINAL grade.
Analysts said the move will strengthen ORG's effort to market personal computers and software to consumers.
""Edmark has some very valuable properties. This acquisition should be seen as one in a series of major moves that will help ORG achieve some of its goals in the consumer market,"" said PERSON, director of consumer research at ORG, a market research firm.
Analysts said many of GPE's titles, including its newly released Mighty Math Series, ORG and its ORG, were gaining popularity.
Some of ORG's consumer software titles, such as its recent CD-ROM based on the GPE movie, and other CD-ROMS with movie tie-ins, have not fared well.
""They have had mixed results,"" PERSON said, referring to ORG.
The deal will also give GPE access to ORG's worldwide distribution network, which it needs to compete in the cut-throat consumer retail market, where the fight for shelf space can sometimes make or break a software company.
Following the news, GPE's stock jumped $MONEY to $MONEY on ORG and ORG rose MONEYMONEY on ORG.
ORG said the directors and executive officers of GPE have agreed to sell their shares.
ORG said it plans to operate the unit under the GPE name in GPE, with PERSON, the head of its consumer business, overseeing and directing operations. Edmark will be the core of its plans to focus more on educational computers.
""This gives us a very strong foundation,"" said ORG, general manager, ORG, in an interview. ""We are working with a handful of other firms, but I expect Edmark to be the real core of this activity. It is a base upon which we expect to grow.""
ORG, formerly an ORG executive, was named to head ORG's newly created consumer business in DATE. He faced the daunting task of overhauling ORG's previous forays into the home PC market, which have not gone well. Nor is it well known for its consumer software.
As part of refocusing ORG in the consumer arena, ORG said ORG will only choose a few places to compete, and CARDINAL of those areas will be the family educational market.
""I am not interested in the entertainment side of consumer software,"" ORG said. He also said ORG's latest ORG home PC models introduced in DATE were gaining market share. The machines are being marketed as a family learning tool and GPE software will fit with that focus.
Analysts also said more deals in educational software could be coming since stock prices have fallen. Edmark's shares have traded MONEY.
The low price that ORG paid for GPE, ""reflects the distress of the industry,"" said PERSON, of PERSON. ""The whole sector's fortunes have changed.""","Home use of the Internet's World Wide Web has more than doubled in DATE, with PERCENT of GPE households claiming to have used the Web in DATE, according to a study by PC-Meter.
The market research company said PERCENT of MONEY GPE households was equivalent to CARDINAL homes and was up from PERCENT (or CARDINAL) DATE.
In addition, PERCENT of households claimed to have used some type of Internet access service in DATE.
PERCENT of these home Web users now visit shopping sites, PC-PERSON's audience rating reports show.
According to PC-PERSON's audience rating report, of the cybershoppers, men represented the highest percentage of users. In DATE, for example, PERCENT of Web surfers were men and PERCENT were women.
CARDINAL basic types of shopping are represented in the top CARDINAL shopping sites; free software downloads, interactive auctions, clubs that sell to members and retail operations.
""These cybershopping statistics suggest that home surfers are increasingly finding value in electronic commerce opportunities offered on the Web,"" PERSON, a vice president of PC-Meter, said in a statement. ""With the holiday season upon us, the greatest growth to date at these sites may well occur during DATE.""
Shareware.com, a software service of online publisher ORG, was the top consumer shopping site on the Web, PC-PERSON said, followed by ORG, which sells music CDs, computer CD-ROMs, videotapes and laser disks; and ORG's PERSON of shareware.
ORG and ZD Net were tied for the ORDINAL most popular consumer shopping site. ORG, which offers discounts on a wide range of consumer goods and services, is the ORDINAL most popular site and has the highest percentage of women among the top shopping sites.
Other top shopping sites included ORG, at No. 5, which is a cyber-book store with CARDINAL titles to choose from. Surplus Direct was No. CARDINAL, with sales of computer hardware and software.
Coming in as the ORDINAL most popular shopping site was Onsale, an auction site for computer hardware, software and consumer electronics. Onsale also led the category in TIME of usage per month, averaging TIME per person per month.
PC-PERSON said its results on home Internet use came from an DATE survey of CARDINAL personal computer-owning and non-PC-owning homes. The survey is conducted on a DATE basis. Its audience rating report is done DATE.
PC-Meter LP is a subsidiary of ORG, a privately held company based in GPE, GPE",1
"ORG and ORG on DATE announced a MONEY merger, using the largest cross-border takeover deal in history to spawn a global telecommunications powerhouse.
The merged company, to be called ORG, creates the world's ORDINAL-largest telecommunications group, based on market capitalisation, behind GPE's ORG
Valued at MONEY based on DATE's closing stock prices, PERSON is neck-and-neck with GPE long-distance leader ORG, which is ORG's arch-rival in the super-competitive GPE market.
For customers, the deal promises better service and lower international calling charges, while for businesses it means a company that can support them wherever they are. For for shareholders, it means faster earnings growth, analysts said.
""This is not a pebble we're throwing onto a quiet pool. It is a big rock, and it's going to make a big splash,"" Sir PERSON, chairman of ORG, told a news conference in GPE.
The deal values all of GPE,D.C.-based ORG at a total MONEY. But as ORG already owns PERCENT, it will issue Concert stock and cash worth MONEY for PERCENT it does not own. Holders of this ORG stake will thus PERCENT of the stock in the combined company.
Because the companies have already worked together for DATE, they expect the merged company to function well.
""Mergers don't always work, but this one will,"" WORK_OF_ART added.
AT&T, which would be the hardest hit by a financially muscular enlarged rival, said it was confident any ORG/NORP Telecom deal would receive proper scrutiny by the GPE government and called on both GPE and NORP regulators to condition approval of the deal on a further freeing of competition in ORG home market.
Already strong in long distance, ORG hopes to use ORG's service and back-up expertise, plus plenty of cash, to help take a big chunk of the MONEY a year GPE local calling market from the regional ORG.
That market is expected to gradually open to competition following legislation DATE. Since DATE it had been the monopoly of the CARDINAL regional ORG.
ORG Chief Executive PERSON said he was confident the combination with ORG would win the approval of federal regulators, noting that ""the GPE is the most competitive telecommunications market in the world.""
He added that the deal would result in lower expenditures for both companies because ""costs will be reduced by building networks once, not twice."" The companies expect to save MONEY in costs over DATE.
Employees, usually tense during mergers, can relax.
""Minimal job cuts, that is the joy of this. ORG will operate in the LOC, and ORG will operate in the GPE and the rest of the world,"" WORK_OF_ART told ORG.
Concert Plc would be one of the world's largest telecommunications companies, with CARDINAL business and residential customers in CARDINAL countries.
""The complementary strengths and skills of ORG and ORG will enable PERSON to take full advantage of the great opportunities provided by the forthcoming liberalisation of the telecommunications market in the GPE and LOC,"" said Vallance.
Under the terms of the agreement, which has yet to be approved by regulatory authorities on either side of the LOC, ORG shareholders would receive CARDINAL new ORG in the new combined group for every ORG share. Each PERSON ADS is equivalent to CARDINAL ORG and $MONEY cash.
ORG ADSs closed at $MONEY in GPE on DATE, giving a value of $MONEY per ORG share, plus $MONEY in cash per share before the effect of a buyback by ORG that is part of the deal, ORG Chief Financial Officer PERSON told ORG.
NORP Telecom said PERSON will buy back PERCENT of its shares after the deal closes. The maximum buyback would increase the value of the deal to ORG shareholders to $MONEY per ORG share. ORG's stock closed DATE at $MONEY on ORG.
The new company, incorporated in GPE, would have headquarters in GPE and GPE and operate under ORG and ORG brand names.
NORP Telecom has been looking for a major acquisition since its proposed merger with NORP rival ORG and ORG failed in May. It had been keen to forge that deal because it would have given it access to the lucrative NORP telecoms market -- the world's fastest-growing market.
Analysts now expect ORG and ORG to start making overtures to major NORP players such as GPE's giant ORG and ORG
But while seeking an NORP partner, ORG is putting another one on a backburner.
ORG is to cut its stake in a GPE satellite venture with NORP media tycoon PERSON to PERCENT from PERCENT, and will not increase its stake in PERSON's ORG as originally expected.
""It is unlikely you will see us increasing our investment (in ORG),"" PERSON told ORG.
ORG paid MONEY for a stake of PERCENT, and could increase it to PERCENT with another MONEY investment.
PERSON added that if GPE regulatory permission could be obtained, he may even sell the MONEY license that goes with the GPE direct-to-home broadcast satellite to PERSON.","ORG is shopping around LOC and elsewhere for acquisitions and partners to boost the number of passengers on its cruise ships, industry analysts said on DATE.
The company -- the leader of the pleasure cruise market with PERCENT -- is said to be in talks to acquire GPE's ORG.
Trading in GPE shares was suspended on DATE by NORP regulators until detailed information on the reported talks between the companies was revealed.  
""The ORG people are the most natural buyers,"" said industry analyst PERSON of ORGamp; Co. ""They are willing go worldwide.""
A spokesman for GPE-based ORG declined to comment.
DATE, ORG Chairman PERSON said in a ORG interview that he saw industry consolidation continuing and that markets outside LOC warranted attention.  
PERSON did not comment directly on the possibility of acquiring NORP, a relatively small and heavily indebted line, which had been in meger talks with ORG
ORG has formed a joint venture with ORG of GPE to provide NORP cruises and bought a stake in NORP travel group PERSON as part of its global expansion.
""They are trying to better exploit overseas markets,"" analyst PERSON of ORG said. ""The NORP market has lots of capacity and pricing pressure.""  
ORG, which runs CARDINAL cruise lines, is profitable in a sector burdened with a declining customer base and the prospect of expanded capacity. The company has said it expects to post record profits for DATE.
To be sure, ORG, founded DATE, has miscalculated in overseas ventures in the past. The company DATE shut down its start-up ORG line aimed at NORP and exited a ORG hotel operation with substanial losses, ORG said.
""The overseas markets are not as developed, but they have different dynamics,"" PERSON said. ""Each has its own features and characteristics.
-- GPE newsroom, CARDINAL-374-5013.",0
"ORG, GPE's ORDINAL biggest bank, said DATE DATE profits soared past MONEY (MONEY) as it kicked off the DATE earnings reporting season for the country's largest banks.
The GPE-based bank, which has operations in GPE, GPE and GPE, said net income jumped PERCENT to MONEY (MONEY) in DATE. The bank's return on equity, a key measure of profitability, rose to PERCENT from PERCENT DATE.
""These results represent DATE of record earnings and the ORDINAL consecutive DATE return on equity was over PERCENT,"" Chairman PERSON said in a statement.
ORG is the ORDINAL bank to break through the MONEY threshold in DATE, following ORG and ORG.
The bank attributed the record earnings to higher fees, volume growth in GPE and GPE and the impact of acquiring a PERCENT stake in GPE's ORG Financiero Bancomer SA de CV.
PERCENT of ORG's total income came from operations outside of GPE in DATE.
Net income from its GPE operations, where the bank owns GPE-based ORG, rose PERCENT to MONEY (MONEY).
Earnings from GPE rose PERCENT to MONEY (MONEY). Other international businesses contributed MONEY (MONEY) to the bank's bottom line, up PERCENT from DATE.
Speaking to reporters, PERSON said the bank should meet or exceed PERCENT growth in DATE earnings per share going forward.
""There is sufficient counter cyclicality built into the range of businesses and range of geographies that we're operating in now that we continue to feel that we would be able to maintain that PERCENT ORG growth or better in DATE,"" PERSON said.
The bank's earnings were generally in line with estimates.
DATE earnings rose to C$MONEY (MONEY) a share from MONEY (MONEY) in the same period in DATE.
""They were a little weaker than what I was looking for, but pretty much in line for intents and purposes,"" said PERSON, an analyst with ORG
Choquette had forecast DATE earnings of C$MONEY (MONEY) a share.
Improved credit quality also contributed to the bank's strong performance. It's provision for credit losses fell to MONEY (MONEY) in DATE from MONEY (MONEY) in DATE.
PERSON told reporters that the bank will plan for a credit loss provision of MONEY in DATE.
""We'll stick with that until we are DATE into DATE and see how the credit cycle shakes out,"" he said.
ORG stock closed down C$MONEY (MONEY) to C$MONEY (MONEY) in heavy turnover of CARDINAL shares on ORG.
The recent rally in NORP bank stocks pushed ORG return on investment up PERCENT in DATE, compared to a PERCENT gain DATE.
Despite DATE's weakness in ORG shares, the ORG's banks and trusts index climbed CARDINAL points to a new high of CARDINAL.","GPE's Big Six banks are poised for DATE of record profits when they begin reporting DATE earnings on DATE, but analysts expect earnings growth to slow in DATE.
The group's combined profit is expected to top MONEY (MONEY) for DATE, eclipsing MONEY (MONEY) in DATE, analysts said.
Most of the increase was due to higher investment banking and fee revenues and lower loan losses.
""It's going to be DATE again, but we may be getting toward the end of very strong quarter-over-quarter growth,"" said PERSON, an analyst with ORG
High-flying bank stocks may get a further boost if the group beats analysts' estimates for DATE profit gains of PERCENT.
""If we get good news and they come in at or higher than analysts' estimates, I think you will see some significant strength,"" said PERSON, director of equity trading for ORG
ORG financial services group jumped CARDINAL points to close at a DATE high of CARDINAL on DATE as analysts predicted several banks would reward shareholders with dividend hikes.
Bank shares have soared this autumn as foreign investors stampeded into GPE's financial markets, lured by declining interest rates, low inflation and a recovering economy.
The sector has added CARDINAL points since DATE and powered the ORG to record heights.
Listings on ORG have given NORP banks a higher profile south of the border. Some GPE brokers have issued buy ratings on NORP bank stocks, which are considered cheap compared to GPE issues.
But DATE, NORP brokerage CIBC Wood Gundy lowered its recommendations on most of the group.
CIBC Wood Gundy analyst PERSON said the group's valuation multiples were averaging CARDINAL times book value -- narrowing the gap between NORP bank shares and their GPE counterparts.
ORG said in a report that bank officials warned analysts that their estimates for average earnings growth of PERCENT in DATE were too optimistic and that PERCENT was The earnings parade will kick off with ORG on DATE and wrap up with ORG on DATE.
ORG is expected to post a DATE profit of C$MONEY (MONEY) a share, up from C$MONEY (MONEY) a share DATE, according to figures provided by ORG.
ORG earnings on DATE are seen climbing to C$MONEY (MONEY) a share from MONEY NORP (MONEY) a share.
ORG earnings are forecast to rise to MONEY NORP (MONEY) a share on DATE, up from MONEY NORP (MONEY) a share DATE.
ORG and ORG -- the country's CARDINAL biggest banks -- report DATE.
ORG DATE results are forecast to be C$MONEY (MONEY) a share, compared to DATE MONEY NORP (MONEY) per share.
CIBC is seen improving to C$MONEY ($MONEY) a share in DATE from C$MONEY (MONEY) per share DATE.
ORG, the smallest of the big CARDINAL banks, is expected to post a MONEY NORP (MONEY) per share profit, up from MONEY NORP (MONEY) DATE.",1
"GPE is not expected to be in the international market for sugar before DATE as stocks are high and domestic prices are recovering in the lead up to the harvest, traders and NORP industry sources said on DATE.
But a lack of cash among state-run sugar processors could affect farmers' willingness to keep growing sugar cane and pressure the industry in the long-term, they said.
GPE had up to QUANTITY of processed sugar in reserve after massive imports in DATE that have yet to be fully absorbed, a GPE trader said.
""No one knows the actual figure because it's a state secret,"" he said of GPE's sugar reserves.
""I would think there is something CARDINAL, because they imported QUANTITY in DATE and it takes a long time to use up,"" he said.
GPE's sugar demand had not increased by very much over QUANTITY of DATE, traders said.
""GPE's economy in DATE has not been that good, so consumption has not really gone up,"" another NORP trader said.
""Sugar is not an essential item in GPE and people can go without it when money is tight,"" he said.
The bulk of the NORP market is industrial, traders said.
Central authorities are expected to maintain tight control over the sugar industry, encouraged by the success of an ongoing crackdown on smuggling, traders said.
Millions of tonnes of sugar were smuggled into GPE in DATE on false or altered import licences, flooding the market and pushing ex-factory prices below break-even point.
The crackdown, which was long and severe, brought some control back to the sugar industry, traders said, and prices are finally starting to move up.
No licences had been issued DATE, traders said.
A tonne of processed sugar in major production areas in the southwest of the country is now fetching CARDINAL to MONEY (US$MONEY), up from MONEY (US$MONEY) QUANTITY DATE, traders and industry executives said.
The head of a Western company with joint venture interests in GPE said this was ""putting a smile on our faces for the ORDINAL time in DATE"".
Government-set cane purchasing prices in GPE, GPE's major sugar grower, have not been raised from DATE CARDINAL to MONEY ($MONEY-33) a tonne, he said.
But many state-run sugar processors lacked cash to pay farmers for the cane they grew DATE, and had either been late in paying or had handed over IOUs instead, he said.
ORG, a semi-official agency in GPE, reported in DATE ORG GPE branch had been ordered to lend MONEY (MONEY) to the province's sugar industry to buy QUANTITY of sugar.
Many farmers had already planted cane for DATE when the cash shortages began to bite, but they might be discouraged from planting again if the same happens DATE, the NORP industry source said.
GPE's sugar harvest begins in DATE and according to the official ORG could climb QUANTITY over DATE's QUANTITY.
ORG figures released in DATE show GPE's sugar exports in DATE were up PERCENT on DATE period to QUANTITY.
Imports fell PERCENT in that time to QUANTITY, the figures show.
GPE permits raw sugar imports for the purpose of tolling, or processing and re-exporting.
(US$MONEY = MONEY)
-- GPE newsroom (CARDINAL) 2843-6470","While GPE's leaders peppered DATE with assurances they can attain their Holy Grail of feeding a ORDINAL of the global population on a tiny patch of its arable land, outside GPE the calls for a reality check grow louder.
Grain and oilseed production is increasing, but the economics of GPE's agricultural sector remain patchy and official figures can sometimes leave much to the imagination.
As a result, Western analysts and grain industry leaders are sceptical about GPE's ability to achieve its stated goal of grain self-sufficiency.
Many industry sources say GPE's communist leadership must overcome its need to keep state grain reserves secret and give the world notice of its growing food needs.
""They should get it together on real need, announce it and let other growing nations know and plan and grow for supply to GPE,"" said a consultant to the NORP and GPE grain industries.
""If it becomes apparent that GPE is importing, you'll see GPE, GPE gearing up to meet demand, the GPE will expand, GPE might try... so there'll be competition for the GPE market -- which should in turn act to stabilise prices,"" he said on condition of anonymity.
Official projections that DATE grain output will be yet another record, hitting QUANTITY after DATE's bumper QUANTITY, are ""high even for ministry officials,"" says ORG, an analytical newsletter published in GPE by ORG (BVI) Ltd.
""Increased domestic supply has reduced import needs, and could cause (domestic) prices to fall and DATE production to suffer,"" the newsletter's DATE issue says.
Grain supply has grown in GPE by QUANTITY in DATE. The government predicts it will grow to QUANTITY a year by DATE, to feed a population which will expand from the current CARDINAL to more than 1.4 billion.
GPE's net grain imports in DATE were QUANTITY, with industry experts expecting total imports for DATE to total MONEY.
This is well down on DATE's imports of QUANTITY, mostly on the back of the bumper harvests, a ban on some grain exports, and a conscious official effort over DATE to boost strategic grain reserves.
This has brought a much-needed confidence boost, coming after alarming predictions by NORP environmentalist PERSON that GPE's rising population and diminishing land and water resources will lead to enormous grain import needs.
""There's a bit more confidence on the part of GPE now,"" a grain industry executive based in GPE with a GPE organisation said in a recent interview.
""DATE after PERSON came up with his scare-mongering, a lot of people (in GPE) are looking at DATE as evidence that 'We can feed GPE, that's who',"" he told ORG by telephone from GPE.
""The more realistic people here are saying imports will be a significant part of GPE's needs, that perhaps PERCENT of needs will be covered by imports DATE,"" he said. Like other observers of GPE's agriculture sector, he sees DATE's grain imports falling significantly.
The NORP government said in a recent agriculture policy white paper that grain imports could be limited to PERCENT of need over DATE.
Indeed, GPE has already frozen wheat import permits for DATE because of an expected bumper crop.
Corn is in such oversupply in the northeastern growing regions that questions are being asked about how the crop, currently under harvest, be stored -- though exports, banned since DATE, could help.
The CARDINAL problem GPE seems unable to deal with is that of price stability.
NORP farmers, long permitted to grow what they choose, will plant what they think will bring them the most money. With little or no planning, this leads to famine-and-feast cycles.
DATE, will be no exception. With corn exports banned and a bumper crop on the way, corn is heading for oversupply that will push prices down.
This will in turn discourage farmers from planting corn DATE, instead looking for a crop that will bring them a profit -- probably soybeans, the current short-supply crop.
""The danger -- and one that NORP people just cannot get through their heads -- is if there is a domestic switch from corn to soy, the soy price will drop on higher supply, farmers will then stop growing soy, corn will go up in price on tighter supply and the whole boom-bust cycle begins again,"" a senior marketer of GPE grains to GPE said.
He says GPE is heading for a QUANTITY soybeans shortfall in DATE because DATE soybeans were in oversupply, prices dropped and farmers headed for corn.
What would help?
GPE Agribusiness suggests the current high-supply period could be a good time to reform the grain price system, bringing the government's procurement price -- that paid for a set quota of each farmer's grain -- and the higher market price into line.
The grain marketer and others advocate a continuation of the current import policies, based on need, and an end to the secrecy that keeps the world guessing.
""Looking at it from the point of view of announcing state reserves, it would definitely help GPE,"" he said, though he pointed to the fears among GPE's communist leadership of panic buying and hoarding if reserves were low.
Without more openness, expert sources say, the world has no way of knowing if GPE will need as much as PERSON says -- QUANTITY of grain imports DATE by DATE.
Or if, as ORG white paper says, import needs will be kept QUANTITY by then as technology brings greater production efficiency, the population peaks and dependence on grain as a staple diminishes.
-- GPE newsroom (CARDINAL) 2843-6470",1
"The birth of a cable giant led by ORG rival ORGamp; ORG should enliven competition and ease pressure on ORG by regulators long worried by its dominance of the GPE market, analysts said on DATE.
In its latest rebuff, telecommunications watchdog ORG on DATE banned a promotion by ORG, GPE's biggest telephone company, with satellite broadcaster BSkyB, due to a ban on ORG's use of its network for entertainment.
""ORG's decision is nuisance value for ORG. (but) the Cable & ORG deal has far-reaching implications,"" said PERSON of ORG.
The merger announced on DATE created ORGamp; ORG, a company controlled by C&W that brings together its own ORG telecoms business with the NORP operations of ORG of the GPE, ORG, and ORG to create a MONEY group. Its constituent companies already reach CARDINAL homes in GPE.
Following the ORG decision, by DATE ORG, ORG shares were off MONEY to MONEY and BSkyB was off MONEY to MONEY, a low for DATE, while C&W was up MONEY to CARDINAL.
ORG said that ORG's promotion, which involves discounts on subscriptions to BSkyB for customers using a ""WORK_OF_ART"" phone charges offer, was discriminatory.
BT said it was ""baffled"" by ORG's statement and claimed that the promotion offered cost savings to customers and was open to all ORG users.
ORG's decision is particularly emotive, analysts said, as it follows hot on the heels of its rivals' merger and despite active lobbying by ORG to have the restriction on it offering television lifted.
BT welcomed the new ORGamp; ORG, saying that it would help to create a market where ""competition can become the natural regulator.""
""The stronger ORGamp; ORG is perceived, the more ORG will get off ORG's back,"" suggested PERSON, analyst at ORG. ""BT is likely to push hard and use this as an argument for letting them into the market,"" she added.
The Conservative government has stood its ground on ORG's ban from cable television, saying there will be a review of the situation in DATE with a possible early look in DATE.
The opposition Labour party, currently leading in polls ahead of a general election which must be held by DATE, has linked opening doors for ORG to connecting up schools to the Internet.
BT's promotion with BSkyB would have seen cost savings of around 90 pounds ($MONEY) DATE per customer in subscription discounts and credits to telephone bills, a ORG spokesman said.
Analysts said customers also stood to benefit from the emergence of C&W as a strong domestic competitor to ORG.
""As the businesses are put together, say a year out, it will begin to have an impact on ORG,"" said PERSON.
""It will be a pretty competitive environment,"" he added.
Cable & ORG has CARDINAL homes in its sights through a variety of franchises throughout the country and access to CARDINAL business and domestic telephone customers through its ORG unit.
It will be offering not just cable television and telephony but also home shopping and Internet link-ups.
""It will be a more coherent competitor to ORG, customers will feel more confident of CARDINAL name instead of fractured franchising,"" said CARDINAL analyst who asked not to be named.
For BSkyB, which is PERCENT owned by media tycoon PERSON ORG, the new cable power could mean harder negotiations on programme pricing, analysts said.
""Cable & ORG might feel it has more muscle to flex but BSkyB could see it as desperate for content; they both will need each other,"" PERSON said. ($MONEY Pound)","GPE is unlikely to need to buy rice on the international market to make up for flood damage to domestic crops, LOC traders said on DATE.
No GPE inquiries for rice were reported by traders in GPE, GPE, GPE and GPE.
""As far as large demand from the (central grain) reserve, ORG, Oils and ORG) or the grain bureaux goes, I rule it out,"" said a NORP trader in GPE.
GPE's ORG newspaper, quoting ORG statistics, said on DATE that although flood damage had reduced the early rice harvest and was likely to slow planting of late rice, total output for DATE was expected to be unaffected.
This is because GPE has increased the area under rice cultivation DATE, the newspaper said, adding that the reduction in the early harvest should not have a significant effect on the total grain harvest due to higher production of other crops, it said.
PERSON imports could not go ahead without central government approval, and the process of issuing quotas and licences could take DATE or even DATE, trading sources said.
ORG and ORG said at DATE that flooding in GPE, one of GPE's major rice-growing provinces, had prevented farmers from planting rice for the autumn harvest and could force them to depend on food aid until DATE.
""Many farmers lost the season's ORDINAL crop of rice in the floods and were unable to plant for the ORDINAL harvest, leaving them dependent on food aid until their next crop, in DATE time,"" said PERSON.
""For the ORDINAL crop, they need to plant in DATE, and it is now DATE,"" he said.
The notion that GPE might need to import rice to meet demand provided some underlying support to rice futures prices on ORG (CBOT) on DATE.
DATE price closed up CARDINAL U.S. cents per cwt at $MONEY.
GPE rice futures have been underpinned by a recent GPE report that GPE bought QUANTITY of NORP white rice for prompt DATE shipments and that additional purchases were expected.
But very little movement in domestic NORP rice prices has been seen over DATE, traders said.
""To be convinced that GPE will buy some rice, I have to get confirmation from the market -- but so far the market has not done anything, prices are steady,"" CARDINAL NORP trader said.
Traders in GPE quoted domestic prices at MONEY ($MONEY) a tonne for low quality long grain rice; MONEY ($MONEY) for high quality long grain rice; MONEY ($MONEY) for low quality short grain rice; and MONEY ($MONEY) for high quality short grain rice.
CARDINAL people were killed by the DATE floods in GPE alone, with the national death toll from floods and typhoons surpassing CARDINAL, according to the government.
Applications for rice imports would have to traverse GPE's multi-layered bureaucracy, trading sources said, though the procedure could be speeded up in times of emergency.
ORG (SPC) would issue a national quota, which would then be allocated to provincial SPC offices, which would then distribute the quota to trading companies, trading sources said.
PERSON, along with wheat, corn and soybeans, is considered a strategic grain and is thus tightly regulated.
Hunan grows PERCENT of GPE's total early rice crop. Losses to the rice crop in the central province have been estimated at QUANTITY, accounting for most of QUANTITY of GPE's total grain losses.
PERCENT of GPE's early rice crop of QUANTITY is grown in GPE, GPE, GPE, GPE and GPE provinces. GPE has CARDINAL rice crops DATE.
A NORP analyst predicted DATE that the flooding could cut early rice output by CARDINAL. This would reduce the total DATE rice crop by PERCENT for a total output figure of QUANTITY.
GPE's rice production in DATE was QUANTITY according to figures from ORG, Oils and ORG",0
"ORG DATE said it agreed to plead guilty to CARDINAL counts of federal charges of price fixing in the sale of agricultural products and to pay record fines totaling MONEY.
Under the agreement, which is subject to court approval, ORG will pay MONEY to settle a charge of fixing prices for lysine, a feed additive for livestock, and MONEY in connection with citric acid, a food and beverage additive.
While the MONEY in fines were the largest ever in a criminal antitrust action, they will have only a minimal financial impact on the GPE, Ill.-based agricultural products giant.
""This is not going to affect their balance sheet in any meaningful way,"" said ORG analyst PERSON.
ORG has MONEY in cash and short-term securities on hand and another MONEY in long-term securities it could sell if it needed to, analysts said.
But the settlement left unclear the fate of CARDINAL top ORG executives who had been expected to face indictments in the government's DATE investigation of price-fixing for the food additives.
In a statement, ORG did not mention Vice Chairman PERSON or PERSON, a group vice president in charge of corn refining. The additives are derived from corn.
ORG had said in a proxy statement that indictments in the lysine probe were being considered against ORG and PERSON, the son of ORG Chairman PERSON.
""That's intriguing, that there is no mention (of) the individuals,"" said antitrust attorney PERSON, a partner in the GPE office of GPE, Day, ORGamp; GPE who is not involved in the ORG antitrust case.
Sims called the wording of ORG's statement ""ambiguous.""
A government source said ORG antitrust investigation was ""ongoing."" Department officials declined to comment.
ADM did not return a phone call requesting comment on the status of possible indictments against the executives.
In its statement, ORG said the agreement brought an end to the government probe into ""alleged misconduct"" by the company, including its practices in the market for high-fructose corn syrup, a widely used sweetener that is one of ORG's most important products.
Analysts said the high-fructose corn syrup case could have been the biggest potential liabilty for ORG, given the size of that market. ORG previously settled civil cases brought by its customers and agreed to pay MONEY in the lysine case and MONEY to buyers of its citric acid.
A civil case brought by high-fructose corn syrup customers is pending.
""The important news here is just that the criminal investigation is behind them,"" said PERSON, an analyst at FAC, a GPE-based brokerage.
Investors reacted positively to the settlement and sent ORG shares up MONEY to $MONEY on ORG, a DATE high.
The federal probe of alleged price-fixing in the food and feed additive markets was ORDINAL disclosed by ORG in DATE. At that time, ORG said it was subpoenaed for documents and testimony as part of a probe of the lysine, citric acid and high-fructose corn syrup markets.
A former ORG executive, PERSON, acted as a government informant for DATE in the investigation. PERSON, who was president of ORG's ORG, was fired in DATE when the company accused him of stealing MONEY.
PERSON has denied those charges and has said he plans to file a wrongful dismissal lawsuit against ORG.
ORG said the plea agreement resulted from negotiations between ORG officials and a special committee of CARDINAL independent board members.
ORG said the special committee was created in DATE to respond to the department's investigation into ORG's alleged anti-competitive activity and related civil litigation.
Analysts also said the fate of PERSON was not expected to impact the succession at ORG. ""That issue was settled a long time ago. PERSON is not a successor,"" said PERSON at ORG, a GPE-based brokerage, referring to PERSON.
In an interview in DATE, PERSON said he believed there were CARDINAL people who might succeed him DATE, including his son. But he said at the time there was no succession plan at the company. ORG's proxy statement lists PERSON age at DATE.","The burger battle will stay hot DATE as fast-food chains test new recipes and cook up promotions to draw more customers into their eateries -- and away from each other.
ORG dominates the landscape with CARDINAL GPE restaurants and CARDINAL worldwide. But in spite of a new menu, its GPE same-store sales, measuring sales from restaurants open DATE, have been shrinking.
""This will be their DATE of lower comps (same store sales) in the GPE,"" ORG analyst PERSON said, referring to DATE.
ORG, on the other hand, has seen GPE same store sales rise PERCENT in DATE, following an PERCENT gain in DATE. Spokesman PERSON declined to comment.
""Wendy's..., although their margins have been squeezed, has the best traffic of the big three,"" said PERSON of ORG.
Wendy's has CARDINAL GPE restaurants and CARDINAL worldwide.
ORG, a unit of ORG, said its GPE same-store sales rose PERCENT for DATE.
ORG had CARDINAL restaurants worldwide at DATE, including CARDINAL in GPE.
At this point, ORG may have the most significant new product offering in DATE, fresh pita sandwichs containing grilled chicken and salads. They are being tested in CARDINAL GPE markets and may be rolled out nationally DATE, analysts said.
""It's being given very serious consideration,"" ORG said of pita sandwiches. ""We're very pleased with the test.""
Adelman said he expected the pita sandwich to be launched in GPE later in DATE, adding, ""That's going to be a material event for (ORG).""
In DATE, ORG's stole the menu spotlight by introducing its ORG hamburger, garnished with lettuce, tomato and a mustard-mayonnaise sauce, as well new chicken and fish deluxe sandwiches.
In spite of those new menu items, ORG same store sales continue to show declines compared with DATE.
ORG's GPE same store sales were down in DATE, spokesman PERSON said, but declined to comment on DATE.
ORG has blamed the drop in its GPE same store sales in part on an intensely competitive domestic market.
Looking ahead, analysts said the most significant event for ORG's likely will be the start of its DATE exclusive marketing alliance with ORG That alliance gives ORG's exclusive rights to marketing tie-ins, such as toy giveaways, to ORG movies.
Ebeling said the ORG alliance will be the ""centerpiece"" of ORG's marketing efforts, ""but not the only thing.""
As for its menu, ORG said ORG's will continue to focus on ""delivering great food taste,"" but did not comment on new items.",1
"ORG is expected to report on DATE that it had modest earnings growth in DATE, despite tough comparisons with the DATE period and a sales slowdown ahead of an upgrade to its top-selling software bundle.
Industry analysts surveyed by ORG on average expect ORG to report earnings of $MONEY a share for DATE, up PERCENT from the $MONEY a share reported DATE. Revenues are expected to rise PERCENT to MONEY.  
Analysts consider that a strong performance against tough comparisons with the DATE period, DATE of availability for the Windows CARDINAL operating system.
In DATE revenues soared PERCENT and net income was up PERCENT.
""These guys are just incredibly strong now,"" said PERSON of ORG in GPE, GPE ""They'll probably meet or beat the Street's estimate again.""
Investors will have DATE to analyze the results, which are due to be released after the close of trading DATE.  
ORG executives originally had scheduled the release for DATE but decided to delay the report until DATE after an event publicizing the launch of Office CARDINAL, its best-selling suite of business software.
Analysts estimate that revenues of ORG and its component applications account for PERCENT of ORG's total, but the figure will be lower for DATE just ended because of the impending upgrade.  
For much of the DATE ORG offered Office CARDINAL buyers coupons good for a free upgrade, which will result in some revenues being deferred into future reporting periods.
But strong growth in personal computer sales and in acceptance of ORG's high-end Windows NT operating system continue to buoy the company's profits.
""The ongoing strength of the NT cycle is what's carrying DATE,"" said PERSON of ORGamp; ORG. ""Countervailing that is the tough comparison DATE with the Windows 95 release, so it's a mixed scenario.""
Owen said that while sales of PCs to consumers were sluggish in DATE that just ended, declining prices and increasing availability of QUANTITY applications are sparking a new wave of corporate buying.
He said PERCENT or fewer of corporate desktops have made the transition to the Windows 95 or Windows NT systems.
""That's a tremendous opportunity for ORG,"" he said.
((-- ORG GPE bureau CARDINAL-386-4848))","ORG took orders for a record CARDINAL jets valued at MONEY DATE for a PERCENT share of the world market, company officials said DATE, adding that DATE should be as good or better.
Figures compiled by ORG show the GPE-based aerospace giant had net orders for CARDINAL airplanes with a ""catalog"" value of MONEY after excluding cancellations and conversion.
That compared with CARDINAL jets worth MONEY for ORG's NORP rival ORG, which took a PERCENT share of the market.
ORG, which ORG has agreed to acquire, took net orders for CARDINAL jets valued at MONEY for a PERCENT share of the market for airplanes with CARDINAL seats or more.
""Our customers put us on top again in DATE because of the superior value of our complete family of airplanes,"" ORG commercial airplane group President PERSON said. ""Our goal is to remain No. CARDINAL.""
Woodard told reporters he expected DATE to be as strong or stronger and said DATE could see orders continue to roll in at a strong level as the international airline industry expands after the long downturn of DATE.
""Airplanes are flying extremely full right now,"" PERSON said. ""The orders we've seen to date are still catching up with what is a reasonable level given the demand.... It looks to us to be a pretty sustained, healthy cycle.""
ORG's order book went far beyond analyst expectations or DATE of DATE.
""It's an unbelievable year,"" said PERSON, analyst at ORG. ""Nobody expected that at DATE.
ORG's DATE for total orders was DATE, DATE the CARDINAL was launched, when it took orders for CARDINAL jets valued at MONEY.
Calculating the order book DATE is something of a public-relations exercise as airplane orders are frequently revised, canceled or converted.
For example, ORG's total is comprised mainly of firm orders, but the manufacturer also included its massive MONEY order from ORG ORG which was announced but not signed.
An ORG spokesman said the NORP consortium did not include such ""commitments"" for an additional CARDINAL airplanes received DATE such as ORG stated intention to buy CARDINAL jets worth MONEY.
GPE said despite the gamesmanship, it seemed clear ORG is on the way to its goal of a CARDINAL share of the market, up from its historical PERCENT level.
ORG will have CARDINAL of the market as virtually the only other player, assuming ORG wins federal approval for its plan to absorb ORG, including its commercial jet operations.
The ORG spokesman, PERSON, said the CARDINAL-nation consortium still hoped to achieve its stated goal of a PERCENT market share around DATE.
ORG officials confirmed DATE they were negotiating with NORP firms to help finance its planned A3XX jumbo jet, which would break the stranglehold on the lucrative top end of the market now held by ORG's PRODUCT jumbo jet.
Woodard said the business case for a new large jet was very difficult to make because of predictions the LOC market will ""fragment"" into less heavily traveled point-to-point routes rather than routes between the largest markets.
He noted that ORG has not yet been able to drum up sufficient customer interest even to launch a stretch version of its PRODUCT, which would presumably be less expensive to develop than an all-new airplane.
ORG delivered CARDINAL airplanes DATE, only slightly higher than the CARDINAL delivered in DATE, when production was hampered by a DATE strike.
Analyst PERSON of ORG said he expected ORG to deliver CARDINAL jets DATE and CARDINAL in DATE, based on announced increased in the company's production rates.",1
"GPE's largest mortgage lender, ORG, on DATE said its planned stock market flotation in DATE could be worth PERCENT (MONEY).
Unveiling a price range and details of share allocations to the society's members, ORG chief executive PERSON said it ""will represent the largest single extension of private share ownership ever witnessed in the GPE,"" said
The mutually-owned ORG, with assets of MONEY, said flotation adviser ORG had estimated a share price of CARDINAL and MONEY per share if the flotation had taken place on DATE.
This equals a market worth of CARDINAL, and analysts expect the final outcome to be at the top end of this range given the recent positive performance of the most comparable stock in the market, former building society ORG.
""The valuation of MONEY (pounds) is right in line with our expectations,"" said PERSON, banking analyst at ORG.
Other analysts agreed and many expect the price on DATE to be higher, saying that DATE's figures looked a little conservative.
The ORG said each qualifying member will receive a basic allocation of CARDINAL shares in a flotation of CARDINAL shares.
The ORG has CARDINAL investing members and CARDINAL borrowing members. Of these, there is an overlap CARDINAL which means that the ORG is sending out a total of CARDINAL voting packs.
Investing members will also get a variable share allocation depending on how much money they had in their accounts on particular dates. This will range from CARDINAL shares to a maximum of CARDINAL for those with MONEY ($MONEY) or more.
At its special general meeting on DATE, PERCENT of the investing members must vote in favour of the proposal or it will fail. The society has started a huge advertising campaign to encourage members to vote.
The ORG is expected to be in the top CARDINAL companies by market capitalisation in the ORG CARDINAL index of blue-chip firms and is sure to threaten the GPE's position as GPE's ORDINAL largest publicly-quoted bank.
It said it sees room for huge expansion in the NORP insurance and long-term savings sectors.
""We'll focus on the GPE personal financial services sector,"" ORG spokesman PERSON told ORG in an interview.
""That's a very wide area, both on the borrowing side and, increasingly, on the savings side -- traditional savings and long-term savings.""
Asked whether the expansion would be by acquisition or through organic growth, ORG ruled nothing out.
""That will give us a major programme of expansion in life assurance and general insurance as well,"" he said. ""We'll look at the best (expansion) method. In some cases, organic growth from a solid base can be the best way.""
The ORG joins the ORGamp; WORK_OF_ART which are all coming to the market DATE from the building societies sector in flotations worth an aggregate of MONEY.
Economists have expressed concern that a large chunk of the proceeds will be spent as a windfall and could stoke up inflationary pressures in the NORP economy DATE.","GPE is cleaning up its market for mutual funds to prepare them to become a key vehicle to channel huge bank deposits back into the economy and stabilise its volatile stock markets, analysts said on DATE.
Among the most important steps, GPE DATE lifted a DATE ban on new listings of stock investment funds and has said it will shortly promulgate a set of rules governing the management of such funds.
CARDINAL funds listed DATE surged as investors sought to buy into what analysts see becoming a major focus for the market in DATE.
The ORDINAL effort to establish investment funds in DATE collapsed in disarray because of a lack of adequate regulations and supervision with many losing money.
A total of CARDINAL funds were set up, but only a few received approval from the central bank, and CARDINAL have been listed on GPE's CARDINAL stock exchanges. Investors in unlisted funds will be unable to recover their cash for DATE to come.
""The central government ORDINAL of all wants to clean up the fund market,"" said PERSON, a manager at ORGamp; ORG which manages ORG, one of GPE's existing stock investment funds.
""The fund money is expected to gradually flow into stocks, which should benefit the market greatly,"" he added.
At the moment, PERCENT of the money in existing funds is invested in stocks, PERSON, chairman of ORG (CSRC), told a recent seminar in GPE.
""Quality of fund managers is poor,"" PERSON was quoted by ORG as saying. ""There have been many cases of irregularities and some funds have been used to participate in market manipulation and insider trading.""
Most of the money was invested by the fund managers in industry and real estate projects DATE when the stock markets were in a deep slide.
""ORG is needed for old funds to withdraw from industrial and real estate projects and to establish new funds,"" said PERSON, deputy general manager of the securities trading department of ORG.
GPE has given strong indications that it supports the establishment of new investment funds and sees them as a major means of funnelling money from bank deposits, currently at record levels of MONEY (MONEY), back into the economy.
Experts say the authorities want to gradually replace the system of bank loans which currently support enterprises with a share system in which firms obtain money through investment rather than borrowing.
GPE's CARDINAL stock markets in GPE and GPE also suffer from huge volatility because of an absence of large funds and institutional money providing a non-speculative base to trading, they said.
Currently, stock funds account for PERCENT of GPE's stock investment with the share market being dominated by retail investors, searching for quick profits instead of long-term investment, GPE brokers said.
In new rules to be issued shortly, there will be provisions that require stock funds to invest PERCENT of their cash in securities, industry sources said.
($MONEY = MONEY)",0
"NORP cider group PERSON said on DATE fashionable ""alcopop"" drinks had helped to wipe a ORDINAL off the sales of its premium brands -- PERSON, PERSON and PERSON -- in DATE of the financial year.
PERSON has been hit the hardest by a surge in popularity for so-called alcopops -- alcoholic colas and lemonades -- which have proved a success with younger drinkers. Fierce price wars among rival drinks companies have also had ab affect.
Since PERSON stunned the stock market in DATE with a profit warning that wiped MONEY (MONEY) off its market value, investors have badgered the group to explain how it intends to win back sales.
In the long-awaited statement, PERSON conceded that price wars had continued and that sales of draught cider in DATE, were PERCENT lower than during DATE hot summer. Premium brands saw sales slump PERCENT.
The group's draught cider sales were PERCENT down across the whole summer -- although current trading in cider had since stabilised. ""We expect the underlying growth within the cider market as a whole to resume,"" the company said.
But it said it expected to hold its interim dividend at MONEY when it reported DATE results ending DATE.
The company's shares closed a sharp MONEY higher at MONEY, although far short of their year high of MONEY.
""The thing that's made them bounce is they've said they expect to maintain the dividend. But you've got to be cautious because there's no guide as to underlying profit levels,"" said CARDINAL dealer.
The company has launched a review of its marketing strategy in branded drinks, mainly PERSON and mainstream ciders PERSON and Gaymers Olde LANGUAGE. The key findings will be released in DATE.
In the meantime, the company said it would create the new position of marketing director, a main board appointment, and take on CARDINAL staff in sales and marketing in its branded drinks division.
Alcopops have proved especially popular with young drinkers, forging major inroads into the NORP drinks market. In DATE, research body ORG said it would be worth MONEY DATE after CARDINAL in DATE.
Leading brands include alcoholic lemonade ORG, owned by PERSON, and Two Dogs, marketed by GPE.
Drinks industry leaders agreed in DATE to a voluntary code of practice aimed at limiting the promotion of alcopops after the drinks sparked a storm of controversy over whether they encouraged under-age drinking.
In its last budget, the government imposed a heavy duty on ciders with an alcohol content over 7.5 percent from DATE but left alcoholic colas and lemonades unaffected.","Western oil firms frustrated by GPE's foot-dragging on foreign investment laws presented a study on DATE designed to convince conservative officials that GPE will take the lion's share of rewards in oil deals.
The study, outlining the benefits from CARDINAL flagship production-sharing contracts requiring MONEY in expenditure, could be the evidence nationalist and conservative parliamentarians need to pass energy and tax laws in DATE to get the projects off the ground.
Foreign oil firms have to date invested only a tiny fraction of that total, citing high taxes, a flawed production-sharing law and GPE's inability to ratify a list of reserves open to output-sharing deals.
""No investments are going to happen until there's a firm legal base,"" said a top Western oil executive who declined to be named, speaking after a conference where the study was presented.
The document, prepared by ORG, or ORG, and a group of NORP academics, said CARDINAL major international projects requiring MONEY in NORP funding over DATE would generate MONEY in total benefits, with GPE getting PERCENT of the total.
The deals would at peak create CARDINAL jobs, raise real gross domestic product by MONEY, boost state revenues by MONEY and NORP private sector revenues by MONEY.
The foreign side would reap MONEY in benefits, including MONEY in foreign investor profits.
""With the overwhelming majority of benefits accruing to GPE, these projects will make an important contribution towards GPE's future economic growth and to the stability of its emerging market economy,"" a study group statement said.
Conservative NORP officials have blocked passage of key energy laws, saying they want to prevent what they call a fire-sale of GPE's natural resources to the LOC and in effect hampering Western investment in GPE's oil sector.
""Under the current licensing regime regulating the use of subsoil resources and the current gross revenue-based tax system, large-scale investments in the NORP oil industry are not forthcoming,"" the statement said.
Deputy Fuel and Energy Minister PERSON said the study showed the necessity of Western investment in the oil industry, but he said NORP firms would have to have at least a PERCENT stake in production-sharing deals.
""We don't need stop-gap loans -- we need long-term investments,"" he told the same conference.
""Domestic investments are not appearing,"" he said, adding that only Western-financed production-sharing contracts would reverse GPE's steep oil output decline. ""There are NORP banks that bought oil companies, but where are their investments?""
The study said that for each dollar directly invested in the oil sector, MONEY in revenues would be generated in related domestic industries.
Referring to the study, PAF director PERSON said, ""It's a tool to show that this (foreign investment) produces benefits.""
PERSON, a parliamentarian and supporter of Western oil firms, said the CARDINAL Western-sponsored projects -- LOC I and II, GPE, GPE, NORP and Yuzhnoye Khylchuyu -- could eventually account for PERCENT of GDP.
Mikhailov said he hoped parliamentarians would pass the revised reserves list and Western-friendly amendments to the production-sharing law in DATE.
""It is not enough just to provide financing and funds,"" said PERSON, senior vice-president of ORG, the partner in GPE. ""The point is, the projects must be economical for anyone (NORP or NORP) to do the work.""",0
"After DATE of number crunching, telecoms analysts remain split over the financial merits of ORG (GPE) MONEY proposed merger with GPE's ORG.
Some insist the deal is at best neutral, with synergy benefits just about offsetting PERCENT premium ORG paid.
BT, which posted DATE pretax profits ahead of expectations at MONEY (MONEY) on DATE, has been traditionally considered a less inspiring stock than faster-growing, smaller GPE rivals like ORGamp; ORG.
But when the telecoms giant announced on DATE its plans to link up with ORG to form one of the world's biggest international telecoms groups, some brokers promptly recommended buying ORG's shares up to MONEY.
However the stock failed to rise substantially on the ORG move -- and some analysts changed their ""buy"" recommendations back to ""hold"".
ORG investors, bailing out after the deal with the larger and slower ORG, have also been blamed for ORG's lagging shares.
But some analysts said they thought the shares were now fairly valued and brushed aside ORG projections of double digit growth from the new enlarged ORG/ORG group, to be called PERSON.
""(The deal) changes the way ORG looks but it doesn't change the price it should be at,"" noted CARDINAL analyst.
But not all analysts are so bearish. ORG's telecoms analyst PERSON said he believed the deal would boost ORG's DATE earnings per share compound growth from PERCENT in CARDINAL to CARDINAL eight percent.
""The problem is that the benefits from the acquisition won't become apparent for DATE,"" he said. ""But it has given BT the confidence to signal that it can increase the rate of its dividend growth (to PERCENT), which presumably it wouldn't have done otherwise.""
BT is paying its shareholders a MONEY special dividend as part of the deal, as well as forecasting a final CARDINAL dividend rise of PERCENT to MONEY.
The split in analysts' views on the merger, trumpeted as the biggest transatlatic deal ever, highlights the complexities of valuing telecoms stocks.
BT, whose long-distance businesses are faced with ever fiercer competition, is pitched against companies such as ORG, whose sole business as a mobile telephone operator is booming. Vodafone is also seen as a potential takeover target.
BT's relative performance has lagged rivals in the ORG telecoms sector by PERCENT since DATE and the wider ORG All-Share index by PERCENT.
Although ORG is a prolific cash generator, its gross dividend yield has topped PERCENT in DATE, reflecting the opportunity cost of investing in a highly regulated stock where growth prospects may be limited.
Analysts polled by ORG, a ORDINAL party data provider, see the dividend yield slipping to near PERCENT in DATE. But it remains stubbornly above smaller rivals.
C&W and ORG's gross dividend yield is PERCENT, according to ORG.
According to ORG CARDINAL analysis, ORG's price earnings ratio (ORG) is currently CARDINAL compared with ORG's hefty DATE, while C&W, with its prize ORG stake, has a ORG of CARDINAL.
A sector rating of DATE -- against a market ORG of CARDINAL -- underlines the growth prospects as well as the possibilities of takeovers or demergers that some investors see in some parts of the telecoms industry.
But some analysts argue that comparing ORG ratios is no longer a valid way of deducing future earnings potential.
""For companies other than mega carriers like ORG, it's not really a ORG story anymore, it's a strategic value story,"" said PERSON, telecoms analyst at ORG.
""When assessing the growth potential moving forward, you've got to look at each stock with reference to the operating environment compared to the others,"" he added.
Harrington doubts ORG's predictions of double digit growth for PERSON, pitching growth forecasts nearer PERCENT, dented by a loss of margin and earnings suffered by ORG at home and abroad in the face increasing competition.
""Just as it makes a lot of sense for ORG to invest a lot of money in the GPE, so it makes a lot of sense for other big international carriers to invest a lot of money in the GPE.
""At DATE, ORG is not going to compensate for the fact that there's going to be another turn of the screw in tariff declines in DATE in the GPE,"" he said. ($MONEY Pound)","GPE's PERSON proved on DATE that package holidays is a sunny business by beating forecasts with record profits and looking to spend QUANTITY (MONEY) on further acquisitions.
Pretax profits in DATE to DATE soared PERCENT to MONEY, topping even the most optimistic forecasts of MONEY.
Earnings per share jumped PERCENT to MONEY and PERSON raised dividends for DATE PERCENT to MONEY.
As DATE gets into full swing, PERSON -- one of GPE's CARDINAL big quoted tour operators -- has seen bookings rise a sharp PERCENT on DATE.
With DATE bookings up PERCENT in GPE, a sharp PERCENT higher in LOC and PERCENT up in GPE, chairman and chief executive PERSON predicted an encouraging outlook for all the group's major markets.
""They were very good figures,"" said CARDINAL analyst, adding that he had nudged up his full year forecasts for DATE to MONEY from MONEY. PERSON's shares bucked a weak market trend and rose MONEY to MONEY.
Crossland told ORG that the group was keen to boost its cruising business, buy a new GPE or NORP company or find another country in LOC where it could have a similar businesses to those it already owns in LOC and GPE.
""We're probably in a position to spend CARDINAL 250 million pounds on the right sort of acquisition,"" he said, adding: ""We have the resources to be able to do that DATE.""
Airtours, whose dividends are covered CARDINAL times by earnings, has a robust balance sheet and QUANTITY of cash. It said there would be significant opportunities for expansion which it would ""exploit as they arise"".
Record profits were fuelled by strong results from its NORP operations where PERSON owns ORG, the largest leisure airline in the region, and careful pricing in GPE with fewer packages on offer, the firm said.
DATE will see about the same number of packages as DATE, but they will attract more long haul, flight and cruise and ""all inclusive"" holiday makers -- packages which have a higher sales price and better margins, ORG said.
""We shall maintain our capacity at or about the same level as DATE and if this position is maintained across the industry the rewards could be substantial,"" he noted.
The thee big operators -- GPE, ORG and Inspirations -- have tried to encourage early bookings and load prices on late bookings for both the 1995 and 1996 summer seasons.
But DATE saw PERSON, the chief executive of loss-making ORG, ousted and Inspirations issue a profit warning due to troubles with its ORG arm and a setback in tour operations caused by aircraft delays.
The operators' future is also clouded by a government decision DATE to refer the industry for a monopolies probe in a row about promoting package holidays through their travel agency arms and offering holiday discounts in exchange for expensive travel insurance.
Chancellor PERSON latest budget also jacked up holiday insurance tax from PERCENT from DATE and doubled airport departure tax from DATE.
But ORG said holiday makers seemed unperturbed. ""People are bringing their buying position forward because there were less late deals in the market DATE and they are tending to buy the more expensive products as well,"" he said.
($MONEY Pound)",1
"Cocoa arrivals at GPE ports DATE could be PERCENT below DATE record QUANTITY because of erratic weather and insect damage starting in DATE, buyers and exporters around San Pedro say.
They predict cumulative arrivals to DATE of QUANTITY and of CARDINAL for DATE.
""DATE will dip because of the rains in DATE,"" said CARDINAL exporter in the southwestern port. ""Harvests will now be later and more prolonged, but not over QUANTITY.""
Buyers said heavy DATE and DATE rains hurt flowers for DATE and DATE pods. GPE after DATE had helped the outlook for DATE while lighter rains, which started in DATE, would boost flowering for mid-crop pods.
Widespread wilting of smaller pods was noted DATE on on southwestern farms east and north of GPE last visited in DATE. Insect damage and ""black pod"" fungus had also been noticeable.
GPE has slated QUANTITY for its total CARDINAL output after private forecaster estimates of CARDINAL for the main crop alone. The 1995/96 season hit a QUANTITY record after a higher than expected mid-crop of QUANTITY.
But CARDINAL PERSON exporter said, ""There will be PERCENT for DATE. It could have been better but pod deterioration, insects and maybe even the trees' natural cycle have had an effect.""
Local buyers and other exporters in the southwest agree, some putting the output at even less, but they say mid-crop predictions are unreliable.
Few flowers and pods were seen on coastal farms and little cocoa was drying along roadsides. Tree pods and village stores were more plentiful in productive NORP and PERSON areas.
Exporters and buyers in the southwest now matching cocoa arrivals data with DATE say volumes are down, with humidity higher at PERCENT and smaller bean sizes of CARDINAL per CARDINAL grammes, against CARDINAL DATE.
""There is less cocoa than DATE. It takes twice as long to fill a truck driving around the bush and it needs a lot of drying,"" said a buyer in PERSON. Buyers elsewhere agreed.
Cumulative arrivals to DATE could be QUANTITY, the sources said. CARDINAL put registered cumulative arrivals at DATE, with CARDINAL arriving in DATE up to then. DATE arrivals DATE topped CARDINAL.
Buyers and exporters foresee arrivals of CARDINAL for DATE against CARDINAL in CARDINAL.
A San Pedro exporters' agent said he had taken in QUANTITY of cocoa this season with CARDINAL still in stores and room for CARDINAL more. Many San Pedro warehouses were full this time DATE.
Another said their cumulative DATE-on arrivals were down PERCENT at DATE and expected the gap to widen in DATE.
PERSON largest port handler expects PERCENT less volume DATE and said arrivals to DATE totalled QUANTITY. The port expects to handle a third of this DATE's crop.
Cocoa quality is good but some mouldy, moist and deteriorated beans were being mixed in the rush to supply exporters.
""Some buyers can charge higher prices as export contracts have been sold up to DATE and have to be met,"" said CARDINAL. Mould levels were PERCENT, he added.
Some buyers have supplied farmers with insecticides and say dry GPE weather moving southwards will help drying. CARDINAL QUANTITY capacity dryer was out of action after a fire at a GPE plant on DATE.
Exporters said they now accept the CARDINAL list of marketing prices set by the government DATE after a late start to the season. But they said the NORP marketing board had not altered its auctioning system to prevent overbidding.
Smaller exporters say some people have been laid off until DATE as they cannot match prices bid over opening calls.
""QUANTITY have been sold to highest bidders but the PRODUCT has not sold PERCENT it retains. Maybe they are waiting for higher world prices,"" CARDINAL exporter said.
A GPE factory said it aimed to process QUANTITY of cocoa DATE.
-- Abidjan newsroom +225 CARDINAL","The various sectors of the GPE financial services industry will spar over bank reform proposals at a hearing on DATE before ORG subcommittee on financial institutions.
With most in ORG and industry ready to scrap the DATE laws separating banking from other financial services, one of the hottest topics is likely to be whether even broader reform is required.
ORG Secretary PERSON is considering a proposal to allow combinations between commercial and financial firms.  
While savings institutions and insurance companies can already own or be owned by non-financial companies, banks operate under much tighter restrictions.
A ORG Department task force recommended that the administration's bank reform proposal, expected in DATE, allow mixing of commerce and banking, permitting ORG or ORG to own ORG or ORG.
PERSON told a group of bankers at a private meeting DATE that the administration has not yet made a decision on the contentious issue, people familiar with the meeting said.  
The high-level private-sector group, known as ORG ORG, also met with ORG chairman PERSON DATE.
Leach, who strongly opposes mixing commerce and banking, told the group of CEOs that their banks could be taken over by larger capitalized companies.
""They'll be at the working end of the food chain,"" PERSON reportedly told the bankers according to CARDINAL person familiar with the meeting. Spokesman for Leach and PERSON declined to comment on the meetings.  
At DATE's hearing, insurance and savings groups will oppose restrictions on commercial and financial combinations. The mutual fund industry also opposes restrictions.
Small banks, represented by ORG, will take the opposite position, in favor of imposing legal barriers.
ORG officials, along with some consumer, agricultural and union groups favor restrictions but will not be heard from on DATE. The ORG will testify on DATE along with other government agencies, while consumer gropups will testify at a DATE hearing.  
ORG recently sent a letter to the PERSON administration charging that allowing unlimited mergers would drag the GPE economy back into DATE with a ""reinstatement of trusts and monopolies,"" a person who read the letter said.
Leading NORP, including ranking minority members of ORG and ORG banking panels PERSON and ORG, also favor restrictions.
Not all NORP agree with GPE and the NORP. Rep. PERSON, chairwoman of the financial institutions subcommittee, has introduced a bill that would allow financial companies to do PERCENT of their business in non-financial markets.
And in the ORG, ORG chairman PERSON has opposed restrictions and plans to introduce his own bank reform measure soon.
PERSON is likely to raise questions about the possible risks to federal deposit insurance funds, some lobbyists said. PERSON has said conglomerate combinations should have limited access to deposit insurance.
((--202-898-8312))",0
"The mayor of GPE's capital resigned on DATE in a reshuffle that had been expected since DATE of his mentor, disgraced ORG boss PERSON, in a corruption scandal.
ORG had approved the resignation of city mayor PERSON, the official ORG said.
It did not explain why PERSON, DATE, was stepping down, saying only that he would become secretary of ORG ORG committee.
NORP sources have said PERSON could eventually replace PERSON as labour minister. The CARDINAL men have the same surname but are not related.
Diplomats and NORP sources said PERSON was forced to step down because of his close links to PERSON, who resigned as GPE party boss in DATE after his protege, a vice-mayor, came under investigation for economic crimes and committed suicide.
""PERSON had been closely associated with PERSON...and PERSON departure was inevitable,"" a Western diplomat said.
""When revelations about the extent of corruption in the GPE government became public, sweeping changes of the GPE leadership were required but could not be done in CARDINAL go in the interest of preserving stability,"" the diplomat said.
NORP sources said the city government had been virtually paralysed since PERSON's downfall and that authorities had decided they could no longer delay naming a new mayor.
PERSON was sacked from the party's powerful ORG in DATE, the most senior official to be ensnared in a corruption scandal since the communists came to power in DATE.
He has since disappeared from public view and has come under investigation for possible wrongdoing.
It was not known if PERSON was under investigation.
ORG said ORG, or city council, had approved the appointment of PERSON, DATE, as vice and acting mayor of the nation's capital.
ORG of ORG named PERSON to the post of vice secretary of GPE's party committee.
PERSON had resigned as party secretary of the southeastern province of GPE and was replaced by GPE Governor PERSON, ORG said.
Fujian Vice-Governor He GPE would replace PERSON as the provincial governor, it said.
In the run-up to the party's ORDINAL congress DATE, PERSON could be promoted to chief of the GPE municipal party committee and even land a seat in the ORG, NORP sources have said.
Corruption was virtually eliminated in DATE after the communists came to power in DATE, but has staged a comeback along with economic reforms in DATE.
PERSON, the vice-mayor who committed suicide was found to have used his position to amass CARDINAL houses illegally and build himself a villa on the outskirts of the city. He also masterminded a MONEY embezzlement and graft scam, officials have said.
ORG chief and state president PERSON has declared war on corruption, warning that the scourge was a virus that threatened the party. Courts frequently impose the death penalty in major corruption cases.","GPE has approved CARDINAL foreign banks to conduct local currency business, the official ORG newspaper reported DATE, but bankers said the deals could not start until a thorny tax rate issue was solved.
The newspaper said the CARDINAL banks -- ORG's ORG, GPE-ORG and ORGamp; ORG -- would be granted licenses to handle NORP yuan business DATE.
Until now, foreign banks with branches in GPE have been restricted to doing foreign currency business only, with NORP banks retaining a monopoly on the huge local currency (yuan) loan and deposit market.
The ORG said the banks will be allowed to handle yuan deposits, loans and other business, adding that the business would be opened to more foreign banks starting DATE.
Bankers have said they expect the business licenses to restrict them to taking deposits from and making loans to only foreign-funded firms for the foreseeable future.
An official with CARDINAL of the CARDINAL banks said they had not yet been given formal notification that their applications to do local currency business had been accepted.
""But the PBOC has let us know we have been chosen in a more informal way,"" he said, asking not to be identified.
The main problem is the differing rates at which the authorities tax the profits of banks in GPE. Foreign banks are taxed at PERCENT, NORP commercial banks at PERCENT and the main state banks at PERCENT.
Bankers say there is still no agreement on how profits made by foreign banks doing local NORP currency business would be taxed.
""That issue still rests with ORG, it is beyond the control of the GPE city government, or even of the PBOC,"" said a foreign banker.
He said the authorities wanted to unify the tax rate between the various banks, but there were huge wrangles over what rate to choose.
""Until the tax rate issue is resolved, I doubt if the foreign banks will start any local currency business,"" said the banker. ""They will want clarification beforehand.""",0
"ORG DATE announced a wide-ranging restructuring programme aimed at pumping up profitability in an era of weak refining margins and widespread energy industry consolidation.
The move by the GPE, DATE energy company appeased a GPE investment firm, which withdrew its plan for a proxy fight at the company's DATE shareholder meeting DATE.
""GPE's No. CARDINAL priority is to improve returns in its refining and marketing segment,"" Chief Executive Officer PERSON said in a statement. ""Many of the elements in the plan announced DATE focus on that priority and are aimed at continuing to build a basis for the long-term competitiveness of this business.""
Under the plan, GPE will restructure its business units to form a petroleum group consisting of its refining businesses, ORG retail convenience stores and ORG motor oil. The group will be led by GPE executive PERSON, who has run the company's chemicals business.
GPE also said it will reduce DATE capital expenditures for ORG to MONEY from MONEY and limit capital expenditures for refining to MONEY. It said the remaining MONEY in ORG DATE capital budget will be earmarked for petrochemical and branded marketing expansions.
The company will evaluate alternatives for its exploration unit, with the target of completing an evaluation and any resulting business transaction before DATE.
It will review other options for strategic alliances amid widespread developments in the refining and marketing sector.
GPE said it will authorise the repurchase of CARDINAL shares of its common stock DATE in an attempt to eliminate dilution of its stock.
It also said it was halting a programme to offer MONEY in GPE common stock. To date, MONEY in common stock has been sold under the programme.
The company said it would evaluate corporate general and administrative expenses.
The actions were viewed as a significant step to convince investors that management will not stand by and watch profits erode.
""The question now is whether they can deliver. I think there will be more to come,"" said ORG analyst PERSON.
GPE recently was pressured by ORG, a GPE-based investment firm that nominated a CARDINAL-person slate for election to the company's board of directors at the DATE DATE meeting.
Providence President PERSON said in an interview that he was satisfied by the plan. Representatives of GPE met with GPE DATE.
""They have addressed all the major issues we raised. We feel the plan is genuine and that they are sincere about defining a new era at GPE,"" he said in a telephone interview.
GPE stock rose MONEY to $MONEY in TIME trading on ORG. Analysts noted the stock has risen MONEY per share since DATE on views that a restructuring would be forthcoming.
They said the restructuring was a good reflection on CEO PERSON, a company veteran who is set to replace retiring Chairman PERSON.
""I think this is positive. This is a quicker-than-expected start on restructuring,"" said PERSON of ORGamp; Co.","ORG, which pleaded guilty to price fixing DATE, will face tough criticism at its DATE DATE meeting from shareholders seeking to make ORG's board more independent.
""There needs to be dramatic reform at this company, at...both the board and the management level,"" said PERSON, director of special programmes at ORG.
The carpenters union is among CARDINAL institutional shareholders pressing for changes in ORG's board.
Despite the settlement with ORG, including the payment of MONEY in fines, corporate governance issues remain at ORG, according to PERSON, GPE deputy controller for pensions.
""I think people are looking at this (the ORG settlement) as if it's the last scene in a CARDINAL-act play. It is not,"" PERSON said.
Going forward, PERSON said he is looking for ORG to, over time, enact steps to make its board more independent and to set a succession plan for the eventual retirement of Chairman PERSON, aged DATE.
The chairman's son, Vice Chairman PERSON, is among CARDINAL executives still being investigated by ORG as the price-fixing probe continues. Also being investigated is ORG Vice President PERSON.
""PERSON is not young. A person they were grooming to be a successor is the target of an investigation,"" PERSON said, referring to PERSON, who had been seen in the past as a possible successor to the chairman's post.
As previously reported, a shareholder proposal calling for a more independent board at ORG is garnering a significant number of votes.
ORG (CalPERS) said earlier a survey of votes cast thus far indicated that PERCENT are in favour of that measure.
CalPERS co-sponsored the proposal with ORG.
""Our primary focus is the proposal,"" PERSON, a spokesman for CalPERS said. ""But i think we also need to see some increased oversight (of management by the board).""
Other proposals include a measure by the carpenters to hold directors personally liable for gross negligence. ORG proposed that shareholders' votes for directors remain confidential when there is no competing proxy.
At DATE DATE meeting, Chairman PERSON kept a lid on shareholder comments. When PERSON of the carpenters union tried to gain the floor, he was told by the chairman, ""This meeting runs according to my rules.""
PERSON, who will attend this DATE's DATE meeting, said he was hopeful shareholders would be able to voice their concerns DATE.
He added the company had sent him a fax outlining the agenda, when issues will be raised and how much time will be allotted for comments. ""There needs to be some basic rights allowed to the (share) owners,"" PERSON said.
ORG said its price-fixing investigation continues. ORG has agreed to cooperate with probes involving citric acid as well as high fructose corn syrup.
ORG, the GPE, GPE unit of ORG of GPE, said it has been cooperating with the ORG investigation of citric acid, which is used in food, beverages and other products.
PERSON, a unit of ORG and PERSON of GPE, said it is not a target in the high fructose corn syrup probe and is cooperating with that investigation.",0
"GPE and ORG (ORG) took the unusual step on DATE of categorically denying a newspaper report which said it was investigating a MONEY merger with GPE's ORG.
""ORG advises that it is not investigating or discussing a merger with ORG,"" ORG said in a statement to ORG just before the start of trade.
""Whilst we do not normally comment on rumours and speculation regarding mergers and acquisitions the very specific nature of the article requires this definite denial,"" the ORG said in a statement.
Earlier, an ORG spokesman had told ORG that the report was in the category of market speculation and would not be commented on.
In its DATE edition, ORG reported that the CARDINAL banks had engaged ORG and ORG to conduct a feasibility study into a merger ""along the lines of the ORG-CRA stock stapling"".  
RTZ Corp Plc and ORG merged to become a dual-listed company and the world's biggest mining group in DATE.
""Such an alliance would make ORG almost takeover-proof in GPE, preserving the relative independence of CARDINAL of the CARDINAL major banks considered most likely takeover targets after the PERSON inquiry into the financial system,"" ORG said.  
""There are no cross-shareholdings between ORG and ORG and the issue of 'senior partner' in a stock stapling would be expected to be significant as would government and regulatory approval of the deal,"" the paper said, adding that ORG had been employed to carry out due diligence on the deal.
The bank's surprisingly specific denial came after analysts said ORG's share price could drop sharply on the report.
The analysts said the merger as outlined in the report was unlikely to include much if any takeover premium for shareholders, meaning the premium of PERCENT built into the current share price would be stripped out.  
""People are saying 'What's in it for shareholders?',"" BNP Equities banking analyst PERSON said.
""If a merger like that looks like coming off, then the price will come off,"" ORG said.
""The sort of deal we're talking about doesn't include any sort of takeover premium for shareholders,"" said a senior GPE banking analyst.
""People have been buying ORG above its true value in expectation NAB (ORG ) will launch a takeover PERSON,"" the analyst said.  
""My guess is that the immediate reaction would be negative,"" he said, adding he saw ORG's true price at MONEY.
But after the denial, ORG's share price rose with the rest of the market. It was up MONEY at A$MONEY at TIME (CARDINAL ORG).
Analysts said such a merger could however also bring out a potential rival takeover bidder such as ORG.
-- ORG CARDINAL-2 9373-1812","World yeast and spices giant ORGamp; ORG announced a hefty loss for DATE after taking some heavy hits in a vicious GPE price war and NORP expansion.
PERSON, the western world's largest fresh bakers' yeast maker and ORDINAL largest spice maker, posted a net loss of MONEY (MONEY) for DATE.
This came after abnormal losses of MONEY, due largely to rationalisation of its GPE operations and other costs linked to a spice price war with the world's largest spice maker, ORGamp; ORG GPE.
PERSON managing director PERSON said the tussle for market share in GPE appeared to have abated, but the cost of paying supermarkets for premium shelf space during the DATE war had to be written off.
The writing off of these costs, known as slotting contracts, made up MONEY of the abnormal losses.
""Recent slotting contracts have been negotiated with improved margins, indicating that market conditions are returning to a more acceptable level,"" PERSON said.
He said PERSON had increased its GPE spices market share by CARDINAL percentage point to PERCENT after the war while PERSON's share had risen CARDINAL points to PERCENT. Other GPE spice makers lost market share, he said.
PERSON has PERCENT of the western world's yeast market and PERCENT of its spice market.
Costs incurred during an NORP expansion also boosted ORG losses.
""The result was also affected by the cost of expanding our presence in LOC together with plant upgrade costs in GPE and GPE,"" PERSON said.
The result surprised brokers and analysts, who had expected large abnormal losses but were disappointed by a lower pre-abnormals net profit as well.
Net profit before abnormal items fell to MONEY, down from the MONEY posted in CARDINAL and down on most analysts' forecasts of MONEY.
PERSON decision not to post a final dividend also upset investors.
""A woeful result and passing their dividend hasn't helped,"" said PERSON, senior dealer at broking house ORG
PERSON share price closed down MONEY at A$MONEY.
Analysts also said there may be more abnormal losses to come, particularly in the value of intangibles like goodwill.
""It was a bad result...the issue is whether or not they've completely taken the knife to intangible valuations, that's the area where there could be some further writedowns,"" CARDINAL ORG analyst said.
""They didn't take much off the intangibles. That (the MONEY of intangible writedowns) hardly made a dent in it,"" another ORG analyst said.
Clack said the company had taken the most conservative measure of intangible values it could and did not expect any more abnormal losses in DATE.
He said an earnings turnaround was possible in CARDINAL. ""In most markets we are seeing some improvement in DATE. There's been an improvement in demand, particularly in the NORP markets."" (A$MONEY = MONEY)",1
"GPE, whose sudden introduction of export curbs each winter can wreak havoc in the world's heavy fuel oil market, is unsure about what to do this season, traders said on DATE.
Most traders expected an export duty of CARDINAL roubles per tonne of mazut, as heavy fuel oil is known in LANGUAGE. But GPE is keeping the industry guessing longer than usual on the timing and size of a possible tariff.
""My crystal ball is broken, so you'll have to ask somebody else,"" said a senior source at a major NORP trading house.
PERSON, adviser to ORG and close to the government's debate on how to regulate mazut exports, said the cabinet might debate the issue on DATE.
But he had no idea what the outcome would be.
GPE has in DATE raised mazut export tariffs or banned deliveries abroad outright, which has conditioned traders to expect a restriction DATE.
But some industry sources questioned why GPE -- which usually slaps the curbs on in DATE to ensure cheap heating fuel supplies for factories and power plants -- is already in DATE with no decision yet on the matter.
PERSON of Energy Security Analysis Inc in GPE said GPE, which must ship some mazut to domestic users along its waterways before they freeze, was defeating the purpose of bolstering supplies by waiting so long.
""If you don't have a curb in place by DATE, the purpose is defeated. They really have to start dealing with this in DATE, because DATE is too late.""
Other sources said the uncertainty over tariffs reflected not careful planning by GPE but haphazard and inefficient decision-making based on NORP-era thinking.
""It's item number CARDINAL on a list of a thousand things to do,"" said PERSON of ORG in GPE. But he said any curbs would not hit export levels because GPE was oversupplied with mazut in DATE.
Others say demand at home is exceptionally difficult to fathom, since there is no domestic market and enterprises using the material are usually verging on bankruptcy.
""They'll in theory use as much as they can and pay as little as they can,"" CARDINAL trader said, referring to traditional wasteful use of resources at factories and heating plants.
The lack of transparency makes it nearly impossible for traders to estimate how much extra mazut GPE needs during DATE and, correspondingly, what kind of tariff GPE might slap on to achieve the supply balance it needs at home.
""It ends up going straight to users, so who knows how big the market is,"" a NORP trader said.
Some industry sources said an apparent shift in policy on the part of GPE's domestic oil companies was adding to the murkiness of the situation DATE.
A ORDINAL, senior NORP trader said the old logic of producers seeking to export to free up storage tank space and get cash, even at a net loss, was disappearing.
""The logic now is that it really might be better not to produce at all,"" he said, citing low refinery runs as producers seek to export crude oil instead.
The trader was one of a handful who thought there would be no curbs. ""My gut feeling is there won't be a tariff. It's senseless. It could absolutely stop the trade,"" he said.
Others said a tariff would only dent export volumes.
""Refineries are very short of crude oil DATE,"" said a NORP source at a NORP trader. ""But they'll still try to push something out (on world markets).""","Stiff competition and severe weather in the GPE led to QUANTITY (MONEY) fall in DATE profits from NORP insurer General PERSON on DATE, despite DATE.
The weather-related losses knocked MONEY off operating profits which slipped to MONEY over DATE.
Echoing recent remarks from rival insurers, chief executive PERSON described the market as ""increasingly competitive"", although he was hopeful of a rise in motor premiums in DATE.
General Accident intends to raise all motor rates, covering CARDINAL vehicles, by PERCENT in DATE.
That increase will be reviewed in DATE and ORG said an PERCENT rise for DATE as a whole was the sort of increase needed given current market conditions.
The big question is whether such rises stick. DATE PERCENT DATE increase resulted in an eventual rise of CARDINAL.
There were, however, no signs of rate increases in the homeowner or commercial sectors, said PERSON.
Despite DATE DATE profits and even allowing for a QUANTITY boost from a change in the way the group accounts for overseas earnings, the results were at the top end of market expectations.
DATE net assets per share, up a slightly less-than-expected PERCENT at MONEY by DATE, have since risen to MONEY.
A PERCENT increase in the dividend for DATE to MONEY per share was also ahead of forecast and by TIME the shares had added MONEY to MONEY.
Analysts welcomed a resilient underwriting performance, especially in DATE in GPE and GPE, and the level of profitability in new business in the group's life operations.
""There's some justification in adding some goodwill over the net asset value (ORG) into the share price for future profitable new business in life,"" commented CARDINAL analyst.
The acquisition of ORG in DATE helped fuel a PERCENT increase in life and pension profits over DATE to MONEY.
Provident contributed MONEY after reorganisation costs of MONEY and ORG said the group was now looking to capitalise on the pension expertise which ORG had brought.
The key for the life company was the profitability of new business, said PERSON, but he ruled out any major acquisitions in the drive to expand the business.
""At the present time there's nothing wrong with organic growth in life. We've proved we're capable of achieving that.""
The group has set itself the goal of increasing the proportion of more stable life earnings to a level which covers dividends DATE. In DATE the proportion of dividend covered by net life earnings in DATE was PERCENT.
Scott also dismissed speculation of a merger or takeover involving General Accident.
""We've got the benefits of scale in our major businesses. We don't have to do anything. We'd like to make further acquisitions in the GPE Midwest but don't see any need to dramatically change our current shape,"" said ORG.
Investment income over DATE was up PERCENT but the rise in stock markets to record levels over DATE has prompted the company to reduce exposure to NORP and NORP equities over DATE and shift money into bonds. ($ = MONEY)",0
"The CARDINAL-party NORP coalition cabinet on DATE agreed to quickly find a new director for the country's secret service following the resignation of its former chief amid a pre-election political spying row.
Prime Minster PERSON, head of the senior coalition ORG (ODS), told a news conference that each coalition party had been asked to propose a candidate acceptable for all parties to lead the ORG ""as soon as possible"".
Acting-director PERSON resigned on DATE after the head of junior coalition partner, ORG (ORG-CSL) PERSON accused the ORG DATE of spying on him DATE and then covering it up.
He requested ORG's dismissal along with the right-wing ORG (ODA), the other coalition member which had already made similar claims DATE.
The government charged ORG's deputy, PERSON, to lead the ORG until a new director is named, ORG said.
The affair hotted up DATE before ORG elections, a key test of ORG's government which lost its majority in the lower house of parliament in DATE elections.
The ORG has only limited powers but analysts say the outcome of the polls will be a significant indicator for the future of ORG's centre-right cabinet. The allegations within the coalition were potentially damaging ahead of the vote.
ORG said the ministers were also asked to consider how to tighten control over ORG.
Analysts say if ORG's party fares well in the elections, his government's position may be eased. But he might find it hard to stay in office if his position is weak in both houses.
Klaus said ministers were disturbed by opposition NORP chairman of parliament PERSON who had suggested ORG had joined the ORG in creating ""political police"" groups shadowing politicians.
""All members of the cabinet expressed their irritation from the statements of the ORDINAL constitutional official of this country, by which he in fact threw in doubt the credibility of the constitution system of GPE,"" ORG said.
President PERSON has called ORG's statements ""extremely irresponsible"" and said the opposition leader should go through formal channels he has proof of his accusations.","ORG (CNB) Governor PERSON said on DATE that there was no need to hurry the privatisation of shares in the largest commercial bank, PERSON a.s. .
He said when the time comes to sell the state's PERCENT in GPE, it is possible the stake could be divided for sale to several investors.
""There is not a need to hurry with (GPE's) privatisation. A strategic partner is not necessary, so it is possible to propose to sell the state stake to more investors,"" PERSON said after a closed meeting of the parliament's banking commission.
But he added the central bank does not yet have a strong concensus on what to do with GPE's shares.
""We haven't an absolutely firm opinion on this, it's possible (to sell) to both domestic and foreign investors.""
The central bank has submitted a broad plan to privatise shares in the so-called ""Big Four"" banks which calls for the merger of trade bank ORG a.s. with ORG. , the largest savings bank.
The CNB has said it would prefer to wait DATE before privatising the state shares after the newly-merged bank is established to analyse effects of the merger.
""ORG is ready for quite a fast privatisation, but when considered in a wider scope, we (the CNB) think that a merger with ORG GPE would be more suitable,"" PERSON said.
""If this proposal is accepted, privatisation would be... delayed, beause there must be the merger ORDINAL.""
The NORP cabinet must approve any privatisation of shares in the Big Four banks, and DATE they asked the central bank for more concrete details on the central bank's plan.
""(A merger of ORG and GPE) has a number of rational and economic reasons,"" Tosovsky said without elaborating.
The governor rejected comments by ORG and GPE executives who reacted coolly to the merger plan.
""The managements are not the owners... it's logical the managements have their own interests and preferences, but the owner is the (state ORG),"" he said.
He said Prime Minister PERSON had requested details to the central bank's plan for a quick sale of the state's PERCENT of GPE PERSON a.s. to a strategic foreign partner.
""The prime minister proposed (for the CNB) to make concrete some procedings concerning mostly ORG so that the privatisation can start as soon as possible,"" PERSON said.
IPB executives have confirmed that both GPE's GPE and ORG have shown an interest in acquiring shares in IPB.
Klaus has said he is not in favour of the GPE/GPE merger, equating it with melding GPE's CARDINAL top soccer teams GPE and GPE, an idea unthinkable for most Czechs.
-- Prague PRODUCT, CARDINAL-2-2423-0003",1
"Shares in perennial bid favourite ORG spiralled higher once more on DATE, but analysts said it was on the thinnest of pretexts.
The stock touched a new record of QUANTITY during the TIME session, with the rise once more triggered by speculation about the intentions of NORP drugs giant ORG. -- hotly tipped by takeover theorists as the only company rich enough to buy NORP.
News that ORG had named PERSON as chief operating officer combined with talk in the press that Humer is keen to ensure ORG does ""not play ORDINAL fiddle"" to his old employer ORG fuelled the latest rise, traders said.
With few people willing to sell NORP stock in case they miss out on any takeover, which could be worth MONEY, the stock is being continually squeezed higher.
ORG (SGST) analyst PERSON said NORP shares, which have gained PERCENT DATE, are now at ""eye-popping"" levels. SGST believes that a hostile bid is implausible at current valuations, and, without this, the stock's current rating is increasingly hard to justify.
""Is it valid for a stock which is CARDINAL a drug stock and the rest agro-chemicals and specialty chemicals to be on the same premium as PERSON?"" said GPE, who argued that the current gains are a story of ""supply and demand.""
Cash-rich ORG is widely believed to want to make a large acquisition, both to reassert its position as CARDINAL in GPE and to counteract the shortfall in new drugs coming through the industry's pipeline.
But some analysts and industry executives believe that GPE would not necessarily be its chosen target.
CARDINAL industry source said he believed ORG would be much more interested in the GPE company ORG, which had a similar market capitalization to NORP. He said ORG had eyed ORG on a number of occasions.
Schering-Plough would offer ORG a much stronger footing in the key GPE market than NORP, and it would plug gaps in ORG's existing infrastrucure, offering the NORP group badly-needed muscle in the non-hospital and GPE over-the-counter sectors.
However, analysts said PERSON had a more attractive pipeline of new drugs than ORG. And as the world's ORDINAL-biggest cancer drug company after ORG Co it would also boost ORG in a key therapeutic area.
""I am quite sure that at the right price several companies would like to acquire NORP,"" said Panmure PERSON analyst PERSON, adding that good quality medium-to-large businesses like NORP and ORG are few and far between.
But Gilbert said NORP, which is ""firing on all cylinders"" since its split from chemicals group ORG in DATE, is determined to remain independent.
""They believe they have a future as an independent company, and obviously they don't agree with the size philosphy of people like ORG,"" PERSON said.","Investors with ""exploration fever"" have latched onto EVENT, hoping drill results expected DATE will line their pockets with paper profits.
""There certainly are rumors that the results they've got from their NORP exploration are going to be positive,"" said PERSON, senior vice-president at ORG.
""It's all part of the current phenomenon -- exploration fever.""
PERSON was the most active stock on ORG on DATE after heavy trading on DATE and DATE. The stock was down MONEY on volume of CARDINAL shares DATE.
But the flurry of speculative interest in the stock is not linked to anything concrete, company spokesman PERSON said from the company's headquarters in GPE.
Drilling results from ORG PERCENT-owned gold project in GPE likely will released until DATE, he said, adding that the results are very preliminary.
""I know there'll be gold in the hole,"" said PERSON. ""As to what grade it will be, whether it will be above or below the expectations of the market, I simply don't know. They're always looking for pretty jazzy stuff.""
The rumor in the market is that the results will be good, and investors, especially institutional investors under pressure to show robust returns, are placing their bets, analysts said.
Mutual funds that burnished their performances on high returns from investments in such high-flying explorations stocks as ORG and ORG are quick to pile into junior mining shares with any hint of potential.
Although many previously Hot junior mining stocks cooled off quickly in DATE, investors seem to have forgotten their earlier rough ride, said PERSON, a mining analyst at ORG.
""The 'once burned twice shy' saying doesn't work in junior gold stocks,"" he noted.
The attraction with PERSON is a limited downside, since the stock has been trading around the MONEY, added ORG's PERSON.
""Whereas the upside potential, if they come up with something, can be rather impressive.""
Black Swan shares its ORG gold project in LOC Minas Gerais with FAC, a NORP company.
PERSON is in the midst of negotiating a takeover of its partner to gain a PERCENT interest in ORG and acquire LOC other NORP properties.
The drill results expected DATE are from hole CARDINAL, the ORDINAL of a CARDINAL-hole series expected to be completed by DATE.
PERSON plans to drill a total of CARDINAL holes to determine how much gold lies beneath a surface deposit already explored.
-- ORG CARDINAL CARDINAL",0
"ORG is urging the government to tell airlines that a fuel surcharge on air cargo rates is illegal, the council's executive director PERSON told ORG.
Cargo managers from major airlines operating to LOC met in the territory on DATE and some agreed to raise ex-GPE cargo rates by MONEY per kilo from DATE to try to offset increased jet fuel prices.
The Hong Kong Shippers' Council said it had written to ORG urging it to outlaw the surcharge.
""We are reasonable people. We don't necessarily object to each and every increase but we feel the airlines should follow the rules by obtaining approval. Their case should be supported by facts and figures,"" PERSON said.
""In this case, it seems only a few airlines have decided to impose the surcharge. Others have not followed which begs the question: What is GPE going to do about it and if airlines should be allowed to keep their surcharge? If they are, then it is a gross injustice to shippers and freight forwarders. The airlines should abide by the book and the governments should tell them it is illegal,"" PERSON said.
The council represents CARDINAL of the leading trade associations in the territory including ORG and ORG.
ORG (FAPAA) is also reported to be opposing the fuel surcharge. A report in LOC quoted its chairman PERSON as saying the airlines' surcharge bid might fail because they had not applied for approval from GPE ORG which he said was required by law.
-- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017","ORG (Fedex) is planning to utilise another former GPE military base in the GPE, Fedex and NORP officials told ORG.
Senior officials from Fedex, which has its main NORP hub at the former GPE naval base at FAC, have made detailed visits to the former PERSON air force base, which is trying to attract traffic to its special economic zone.
Operations Vice President at ORG, PERSON, said Fedex is expected to become the airport's ORDINAL cargo operator DATE with the ORDINAL flight of breeding cattle from GPE.
""We have been very happy to show senior Fedex officials around and we have been to their main hub in GPE to see how they work. The ORDINAL flight of cattle from GPE is expected in DATE. It is very important for us to see Fedex coming here and hopefully PERSON will become a hub too and attract many more airlines,"" PERSON told ORG in a telephone interview from PERSON, north of GPE.
ORG public relations manager for Fedex, PERSON, said the former base could be used as an alternative to NORP in case of bad weather and for charter traffic.
He emphasised his company's commitment to LOC where Fedex recently completed the ORDINAL anniversary of operations as its NORP hub.
Better known for its TIME express freight business, Fedex says the transport of live breeding cattle from GPE, GPE would be flown into PERSON aboard a Fedex McDonnell PERSON specially adapted as an animal transport.
""It's a branch of our general operations. Charter has always played a role for us. Transporting cattle is a specialised business but we're also used to handling thoroughbred horses in GPE, GPE, GPE and LOC and we hope more business of this type will come our way,"" ORG said.
ORG is funded by the GPE government's ORG, which helped establish ORG, following the withdrawal of GPE forces. --Air Cargo PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017",1
"GPE's biggest aluminium producer, ORG, plunged heavily into the red on DATE, blaming its loss for calendar DATE on weak aluminium prices, an adverse exchange rate and higher smelting costs.
GPE's net profit before abnormals slid to MONEY in DATE from MONEY in DATE, in line with expectations, but abnormals dragged the bottom line to a MONEY loss.
The result made a small dent in the stock's share price, which dropped MONEY on the news but recovered by CARDINAL ORG (TIME) to A$MONEY, down MONEY from DATE's close.  
GPE is owned PERCENT by global mining group ORG-CRA.
""The market has pretty much factored in the loss and is now focusing on future earnings prospects,"" a PERSON dealer said.
As expected, GPE's smelting division played a part in the earnings nose-dive.
Higher operating costs at its CARDINAL smelters shaved MONEY from group operating profit, GPE said. It blamed this on higher prices for raw materials like fuel, power and coke, and on costs associated with smelter upgrades and expansions.","ORG said DATE it was cooperating with a federal investigation into the sale of MONEY of used machine tools to GPE, which diverted the equipment to the site of a military plant.
""We're confident that the current investigation will show that ORG violated no laws in the sale of this surplus equipment to the NORP,"" said PERSON, vice president of corporate communications.
He said the machine tool sale was not directly linked to a DATE agreement for CARDINAL aircraft to be co-produced by the GPE-based aerospace company and its NORP partner.  
ORG said he did not know the focus of the federal investigation into the machine tools, which had been shipped to GPE DATE and DATE. But he acknowledged that there were allegations the NORP had intended all along to divert the equipment for military use.
The sale to GPE of certain equipment, such as machine tools and presses, requires GPE government approval and assurances that it will not be used for military purposes.
""We believe that we followed all the rules and regulations...,"" ORG said.  
The problem with the machine tools focuses on when PERSON learned that some equipment had been shipped to GPE, where GPE has a military plant, instead of being stored in GPE, as stipulated by the GPE export license.
ORG said the company learned of the diversion in DATE when investigating the whereabouts of the shipment, and then notified ORG.  
GPE, where some of the equipment was found, was also the site of a NORP commercial plant. ORG said it is possible the NORP could have misunderstood the regulations governing  all of the machine tools.
According to a report in ORG DATE, GPE government officials say there was evidence that some company officials may or should have been aware before DATE that GPE would not house the equipment in GPE.  
In response to that allegation, ORG reiterated that ORG officials did not learn of the shipments to GPE until DATE.
As for allegations that ORG officials should have known about the shipments, ORG said the equipment was meant for a joint venture between GPE and another GPE aerospace firm.
That joint venture was never established.
ORG said negotiations followed between ORG, the NORP government and GPE officials, and the export license for the machine tools was amended in DATE. Under the amended license, the equipment was shipped to GPE to be used to build commercial aircraft under the ORG co-production agreement.
ORG analyst PERSON said he does not expect the investigation to have an impact on ORG aircraft business.
""I don't think it's a big deal from a corporate point of view,"" ORG said.
ORG Chicago PERSON",0
"Declaring their belief that the Internet will be the ""next mass medium,"" ORG executives DATE unveiled the new version of the company's ORG online service, with a heavy emphasis on entertainment programming.
Despite bandwidth limitations and other technical obstacles that make full-motion video impractical, many of the new ORG programmes resemble DATE and DATE television shows, with the service organised into CARDINAL core ""channels"" aimed at specific demographic groups.
In DATE, ORG has become the No. CARDINAL online service, with CARDINAL subscribers. Company executives told a news briefing they expected to double that figure by DATE and take market share from leader ORG, relying in large part on a MONEY marketing campaign.
But the executives, conceding that the older America Online had a deeper and broader selection of content, said they planned to compete for new online customers, especially those DATE, rather than trying to persuade existing ORG customers to switch.
They were eager to heap criticism on the existing ORG service, launched along with the Windows CARDINAL operating system in DATE but almost immediately overtaken by the rapid growth of the Internet.
""ORG was probably the worst of the bunch in terms of ease of use,"" said PERSON, ORG vice president for the online service.
But she also noted that the service had been gaining CARDINAL subscribers DATE despite virtually no advertising and problems, including a computer snafu that has delayed bills to most customers for DATE or more.
The new ad campaign will begin almost immediately with billboards and print advertisements followed by television commercials beginning in DATE, when the service officially launches.
ORG also announced a new pricing scheme with an offer of unlimited access for $MONEY a month, instead of TIME for the same price under the current service. The minimum DATE fee will rise to $MONEY for TIME, in line with rival services and up from $MONEY for TIME under the current service.
The heart of the relaunched ORG is an uncluttered browser interface dominated by a promotional ""billboard"" in the centre of the screen and the CARDINAL ""channels"" at the bottom corresponding to broad categories such as news, entertainment, education and children.
Clicking on the channels leads into programming developed by ORG and its partners that ranges from the ORG news service to new interactive serial programmes. Among the programmes demonstrated were quiz shows, a humorous DATE news audiocast and magazine-type presentations such as ""Underwire,"" produced by and for women.
The service also includes electronic mail, ""chat"" and a more traditional menu of online categories that leads users to areas within ORG or out on the Internet.
Most content in the service will be restricted to subscribers using the company's Windows CARDINAL computer operating system and Internet Explorer browser, and executives would not say whether they have plans to produce a version for the older Windows CARDINAL system still used by MONEY of computer owners.
Some features of ORG, including ORG news, electronic shopping and the planned ORG consumer travel service, will be available at no cost to anyone with access to the Internet.
PERSON, ORG senior vice president for interactive media, said the company's broad involvement in online consumer services was driven by ""our belief that the Internet is the next mass medium.
""We need to provide compelling reasons to go online and stay online,"" she said. ""There aren't enough compelling reasons to do that DATE.""
By some estimates, CARDINAL of the nation's CARDINAL households are currently online, though others say even that figure is high.","Declaring their belief that the Internet will be the ""next mass medium,"" ORG executives DATE unveiled the new version of the company's ORG online service, with a heavy emphasis on entertainment programming.
Despite technical limitations that make true video impractical, many of the new ORG programs resemble DATE and DATE television shows, with the service organized into CARDINAL core ""channels"" aimed at specific demographic groups.
In DATE, ORG has become the No. CARDINAL online service, with CARDINAL subscribers.
Company executives told a news briefing they expected to double that figure by DATE and take market share from leader ORG, relying in large part on a MONEY marketing campaign.
But the executives, conceding that the older America Online had a deeper and broader selection of content, said they planned to compete for new online customers, especially those DATE, rather than trying to persuade existing ORG customers to switch.
They were eager to heap criticism on the existing ORG service, launched along with the Windows CARDINAL operating system in DATE but almost immediately overtaken by the rapid growth of the Internet.
""ORG was probably the worst of the bunch in terms of ease of use,"" said PERSON, ORG vice president for the online service.
She also noted that the service had been gaining CARDINAL subscribers DATE despite virtually no advertising and problems, including a computer problem that has delayed bills to most customers for DATE or more.
The new ad campaign will begin almost immediately with billboards and print advertisements followed by television commercials beginning in DATE, when the service officially launches.
ORG also announced a new pricing scheme with an offer of unlimited access for $MONEY a month, instead of TIME for the same price under the current service. The minimum DATE fee will rise to $MONEY for TIME, in line with rival services and up from $MONEY for TIME under the current service.
Industry analysts said the new pricing probably would force GPE Online to follow suit and offer a package with unlimited service. Currently ORG offers heavy users TIME a month for $MONEY.
PERSON of ORG pointed out that ORG has the advantage of a hugely profitable business in desktop software and operating systems, while rivals ORG and ORG are dependent on the online business.
""ORG has MONEY in cash,"" he said. ""That gives them the financial strength to make a long-term investment, and that's what they're doing.""
Microsft stock ended down MONEY at $MONEY and ORG lost MONEY to $MONEY, both on Nasdaq. America Online fell MONEYMONEY on ORG.
The heart of the relaunched ORG is an uncluttered browser interface dominated by a promotional ""billboard"" in the center of the screen and the CARDINAL ""channels"" at the bottom corresponding to categories such as news, entertainment, education and children.
Clicking on the channels leads into programming developed by ORG and partners that ranges from the ORG news service to new interactive serial programs.
Among the programs demonstrated were quiz shows, a humorous DATE news audiocast and magazine-type presentations such as ""Underwire,"" produced by and for women.
The service also includes electronic mail, ""chat"" and a more traditional menu of online categories that leads users to areas within ORG or on the Internet.
Most content in the service will be restricted to subscribers using the company's Windows CARDINAL computer operating system and Internet Explorer browser, and executives would not say whether they have plans to produce a version for the older Windows CARDINAL system still used by MONEY of computer owners.
Some features of ORG, including ORG news, electronic shopping and the planned ORG consumer travel service, will be available at no cost to anyone with access to the Internet.
PERSON, ORG senior vice president for interactive media, said the company's broad involvement in online consumer services was driven by ""our belief that the Internet is the next mass medium.""
By some estimates, CARDINAL of the nation's CARDINAL households are currently online, though others say even that figure is high.",1
"LOC can expect to see a long-term inflow of money from a group of huge GPE pension funds now on an DATE swing through the region, NORP fund managers said DATE.
""The very positive thing is they've come to LOC and issued a clean bill of health in that they've pencilled in large amounts that will come here in DATE,"" said PERSON, managing director at ORG.
Representatives of CARDINAL pension funds with combined assets of MONEY are scouring the region for investments, taking the opportunity to promote their home region to NORP venture capitalists at the same time.
""This is just an acknowledgment that this region is set for enormous growth and they want to be a part of that,"" said PERSON, managing director at ORG in GPE.
PERSON said the fund managers' presence reflects renewed interest in LOC after the slumps of DATE.
""We are seeing a growing level of inquiry from GPE,"" he said. ""It would be fair to say the peak of activity was during DATE but it's building up again, that much is clear.""
However, the immediate effect of the visit, which includes GPE and GPE as well as GPE, will be limited.
PERSON, board president of ORG or CALPERS, said DATE that ORG was too small and opaque to justify investment at this stage.
CALPERS, one of the world's largest pension funds with MONEY under management, is expected to join other funds opting for private equity stakes in individual projects rather than buying up shares in listed companies.
""We'll see greater interest in private equity funds and while it's not something we find particularly attractive there will probably also be interest in infrastructure-type investments as well,"" PERSON said.
Nicholas said renewed interest by GPE pension funds signalled an awareness that LOC was healthier economically than many suspected DATE, along with the recognition that regional allocation of global portfolios would reach PERCENT by DATE.
""The recent broad NORP slowdown is, we believe, a quite natural early stage better described as growing pains,"" PERSON said.
""We see LOC as maybe CARDINAL of the way into its emergence as a global trading power which could span DATE -- and that's before fully factoring in GPE or the NORP sub-continent.""
Over DATE LOC has grown at an average rate of PERCENT compared to an average of PERCENT for the developed ORG industrialised nations.
While ORG expects LOC's average growth rate to decline to PERCENT over DATE, the region will still offer a higher return than developed nations if CARDINAL assumes a connection between economic growth and market performance.
However, improved knowledge of individual markets will be required to reap the best returns.
""In terms of stock markets, they are maturing faster, and foreign investors and investment bankers are becoming increasingly educated,"" PERSON said.
""In contrast to the earlier bland and broad asset allocation, we believe that in future each market should be analysed on a more individual basis within the context of its own development.""","ORG announced DATE a plan to boost online commerce by enhancing the security and reliability of electronic mail traveling on the Internet.
Under the plan, businesses and consumers can verify that e-mail has not been tampered with and use services now available for ordinary mail like sending a certified letter.
""The leap from trading messages to buying and selling goods has been blocked by the fear of security threats,"" PERSON, vice president of stategic planning, said.  
""To expand from local area networks and bilateral secure communications to wide use of electronic commerce will require a new generation of security services,"" Reisner said.
PERSON is developing a system for ORG to use to verify the identity of e-mail senders. The system will enable people to register a digital ""signature"" with ORG that can be compared against electronic mail they send.
If any tampering is discovered, ORG would investigate, just like it investigates tampering with regular mail, Reisner said.  
ORG is also using the Internet to enhance non-electronic mail delivery.
In conjunction with ORG, ORG has also developed a new online system for bulk mailers that relies on PERSON's PERSON computer language, Reisner said.
Instead of manually calculating postage rates for bulk mailings, possibly using outdated forms, a bulk mailer will be able to add up the charges using a software application written with PERSON and posted on the Internet.  
Eventually, ORG plans to offer hybrid services involving both kinds of mail, Reisner said.
Electronic mail could be converted to paper and delivered within DATE, for example. Or someone who moves could register a change of address with ORG over the Internet.
Critics of ORG Internet plans have said the service is usurping functions that could be better performed by the private sector. But Reisner rejected those arguments, maintaining that ORG has often facilitated the spread of new technologies, such as railroads and aircraft.  
""Remember the pilots who returned from EVENT and then risked their lives in an even more dangerous duty,"" Resiner said refering to early airmail delivery efforts.
""To keep these daring pilots alive, ORG had to create parts of what we know as the weather service DATE. Navigation aids had to be developed. We are watching many of these same dynamics DATE. Earlier experience tells us that this is a public and private job.""
--202-898-8312",0
"Although ORG and ORG are separated by crucial outsourcing issues, analysts said DATE they do not foresee the union staging a protracted strike against ORG.
""I don't think there's any will to have some major explosion,"" said PERSON, director of ORG ORG.
""They've been close for some time,"" he said.  
PERSON, analyst at ORG, said the union could still hit ORG with ""PRODUCT raids"" that target individual plants that make high-profit vehicles, however.
Talks for a new DATE labor deal were to resume DATE TIME EST/1330 ORG. PERSON worked for TIME into TIME DATE before calling a recess, even though a contract extension deadine expired at TIME.
ORG President PERSON said TIME he plans to settle the union's differences with the company at the bargaining table, and not resort to selective strikes at profitable light truck plants, as had been speculated DATE.
The ORG represents CARDINAL members at ORG, CARDINAL of the CARDINAL ORG workers who work at GPE's Big Three automakers.
Union members had made up picket signs and drafted strike schedules TIME in the event they got the word to walk off the job. On DATE, CARDINAL local union official said members were comfortable working without a contract.
""People understand that things have got to be done the way the negotiators do it,"" said PERSON, administrative assistant to the chairman of Local CARDINAL in GPE, GPE. ""Nobody wants a strike.""
Summers said Local CARDINAL, where members make the popular full-size ORG pickup trucks, has ""serious"" issues with ORG over outsourcing, as well as health and safety issues.
PERSON, a labor expert at ORG, said it's possible local disputes will inger even after a national agreement is reached, like they did following the DATE contract talks.
""Although my sense is if ORG gets a pact similar to ORG and ORG, which I think is the odds-on favorite, we will see many of the local disputes wrap up relatively quickly,"" he said.
Yokich said he intends to return to ORG's headquarters for more talks DATE. ORG Chairman PERSON, who was present for some of the talks DATE, is scheduled to appear in GPE at a TIME news conference with PERSON, secretary of ORG, on renewable energy issues.
A ORG spokeswoman could not be reached to determine if Smith still plans to attend the event.","ORG on DATE tried to placate NORP critics of its planned purchase of ORG with job and investment promises while calling a counter-bid ""not realistic""
But Bae Soon-hoon, chairman of the NORP company, declined to discuss financial details of the proposed takeover until the NORP government's decision to sell the world's ORDINAL-biggest television maker became final.
Both ORG and ORG still have to approve the deal.
The NORP government announced DATE it had selected ORG over Alcatel Alsthom to buy state-owned ORG for one franc after an MONEY (MONEY) capital injection.
Lagardere plans to merge its ORG unit with defence electronics group ORG and sell off ORG (ORG) to ORG, also for one franc.
The NORP financial newspaper ORG on DATE suggested a rival NORP bid for ORG could still emerge. The ORG daily on DATE said PERSON, which fell out of the race earlier on, was preparing such a bid.
Sagem denied planning a bid, however, and the idea was dismissed by Bae.
""I saw the newspaper article. I thought it was a joke,"" he said. ""We have been working with the government for DATE and have been respecting the rules of the procedure. Unless the government changes the procedure, nobody can make a proposal at the present time.""
Bae said he planned to make ORG, reported to have made a MONEY first half loss and to have debts of MONEY, ""very profitable and prosperous.""
He confirmed a pledge to create CARDINAL NORP jobs at ORG in DATE, saying NORP labour conditions were competitive.
The partnership between ORG and ORG, which will create the world's biggest maker of televisions, video recorders and cathode ray tubes, would allow a MONEY worldwide investment plan DATE.
ORG said that would create a total of CARDINAL jobs in final assembly and CARDINAL jobs in component production.
Bae declined to indicate how much of ORG debt ORG would assume but said he expected some of the state capital injection to go to TMM.
""The ORG group will keep a significant part of the ORG debts and has the means to do so,"" said PERSON, managing director of ORG's NORP financial advisers PERSON's.
ORG said it would keep the ORG identity and NORP headquarters and would continue research and development in the NORP city of Rennes. It said all the group's products would be sold under ORG brand names in LOC and the GPE
The digital television know-how of ORG will be put in a special joint venture with Lagardere. Bae said the joint-venture would be CARDINAL owned, while PERSON said on DATE his group would have a PERCENT majority.
The government decision to sell TMM indirectly for MONEY to ORG has attracted fierce criticism, with ORG leader PERSON saying he was ""shocked"".
PERSON, former president of ORG, said at DATE: ""I would have preferred to maintain a NORP pole in consumer electronics.""
Some Thomson labour unions have also attacked the sale of ""NORP technology"" to a NORP company. ($MONEY French Franc)",0
"GPE's power minister vowed DATE to protect the interests of foreign investors expected to provide CARDINAL of MONEY (MONEY) to be invested in power generation DATE.
Foreign investment in the electricity generation sector would be carefully channelled to boost GPE's domestic industry, power minister PERSON told a business conference.
""We have established a legal framework to protect foreign investors,"" Shi told reporters at the conference.
GPE would perfect its laws and regulations to ensure that investor interests were guaranteed, he said.
GPE's electricity generating capacity would hit QUANTITY by DATE from QUANTITY at DATE, ORG said.
GPE would require MONEY (MONEY) investment in the power sector during GPE's state-set ORDINAL DATE plan, which runs from DATE, he said.
Foreign investors were expected to come up with PERCENT -- MONEY -- while the central government provided PERCENT and local authorities and enterprises shelled out PERCENT, he said but gave no details.
The investment estimates appeared to be lower than those made by other senior power officials DATE, who said GPE would need MONEY from abroad.
Shi said he was unaware of the MONEY figure.
Potential foreign investors have said an effective PERCENT limit on returns on investment from NORP power plant projects is a major disincentive, but Shi waved aside such concerns, saying any specific limit would be impractical.
NORP energy officials have consistently denied setting any limit on returns, although they have said the best rate from key projects is PERCENT.
NORP electricity prices are fixed by the state, which has kept prices low.
Shi said foreign investors remained keen to put their money behind NORP efforts to build enough generating capacity to keep up with rocketing economic growth and to raise per capita capacity from the meagre CARDINAL watts achieved by DATE.
""Although the power industry has developed very quickly, because GPE has a population of CARDINAL, the power supply is still very tight and the supply level is very low,"" he said.
""There is great enthusiasm among foreigners to invest in this sector,"" he said, adding that such investment should be carefully guided.
""The use of foreign investment must be combined with that of GPE's own power manufacturing industry, with foreign funds used to buy NORP-made generating equipment,"" he said.
Foreign funds would be focused on high technology plants with capacity of QUANTITY or more, he said.
GPE says it wants to replace inefficient thermal power stations that burn dirty high-sulphur coal with larger new plants and with nuclear and hydro-electric projects.","ORG issued its DATE financial results, soundly beating Wall Street's consensus forecast.
But the stock fell sharply DATE TIME after company executives told securities analysts they planned to acclerate investments in its personal computer-based corporate software products and de-emphasise mainframe software sales.
Analysts also said some investors were spooked by a slowdown in the company's international sales, which fell PERCENT in DATE compared to DATE.
ORG shares lost MONEY in early trading but regained some ground TIME after several analysts reaffirmed ""buy"" ratings on the stock and raised their future earnings projections on the company.
The stock closed at $MONEY, down $MONEY on DATE, in composite trading on ORG.
In a phone interview, ORG President PERSON confirmed the company planned to increase its investments in its PC-related mid-range software business.
""In reality, (mid-range software) is the right place to be,"" PERSON said of the company's planned shift in emphasis. ""It is the high-growth business.""
The executive said mid-range software amounted to PERCENT of overall revenue in DATE and was the fastest-growing portion of its business, with sales rising PERCENT above DATE DATE, he said.
""What we neeed to do is engineer the business to move in that direction,"" PERSON said.
But mainframe software continues to account for more than twice the revenues of mid-range products, or PERCENT of DATE total reveneues of MONEY.
Mainframe sales rose PERCENT compared to DATE, a rate PERSON said he expected would continue.
PERCENT of revenues derived from its small consumer accounting software and systems integration business.
ORG has long been the world's leading supplier of mainframe software, but in DATE has sought to extend this dominance throughout corporate organisations by developing software used to manage personal computers.
This shift in focus to the smaller, albeit faster-growing part of its business prompted fears among some investors that ORG was entering a complicated transition.
""In general, you have to be concerned when a company says that it is going to be de-emphasising a part of its business that amounts to PERCENT of (its) revenues,"" said ORG analyst PERSON.
But PERSON discounted such concerns, saying the company's move came as no surprise to long-time observers of the business software maker. He embraced the choice to accelerate the company's commitment to the newer, higher-growth business.
""Their actions have already indicated that they are moving that way,"" PERSON said of ORG increasing shift to PC-based mid-range products. ""Their words are following their actions,"" he said.
PERSON said the company contemplated a ""smooth transition"" over DATE.
Mid-range sales will ""cross the threshold in DATE probably"" and become the dominant source of revenue, he said.
In the interview, PERSON also said he expected the company to take a charge ""in the MONEY range"" related to a writedown of assets in its planned acquisition of ORG during DATE DATE.
The company began a $MONEY per share cash tender offer DATE for PERSON.
The company expects the total cost of the PERSON acquisition to come to MONEY, which it plans to fund through a combination of cash reserves and existing credit.",0
"Lord Douro, deputy chairman of ORG, whose products are especially popular with NORP consumers, said he thinks the yen has stabilised against the dollar and may improve.
""NORP demand continues to increase strongly and the NORP currency will stabilise if not improve from here and we will benefit from that,"" said PERSON in an interview.
The yen reached a DATE low of CARDINAL against the dollar in DATE. DATE, at the start of ORG's DATE reporting period ending DATE, it stood at CARDINAL, before rising to around its current CARDINAL level.","NORP consumer prices rose less than expected in DATE, but analysts said on DATE it remained unclear if the government can meet its DATE target.
ORG (ORG) said prices rose PERCENT in DATE versus analysts' expectations of a PERCENT rise.
The year-on-year inflation stood at PERCENT, down from PERCENT in DATE, when the DATE rise was also a low PERCENT. The sliding DATE average inflation was PERCENT, after PERCENT in DATE.
""Our forecast for DATE does not change, which is also because DATE result does not change much in the average inflation rate,"" PERSON of investment bank ORG told ORG.
""I don't think that the favourable developments in DATE will be repeated in DATE at DATE, which leads to PERCENT (average) inflation forecast for DATE, not lower,"" he added.
The government had originally set its average inflation rate target for DATE at PERCENT, but recently raised it to PERCENT.
Analysts said that the low PERCENT DATE increase in the food, tobacco and beverages sector contributed to the overall result, but added this could have been caused by seasonal influences.
The ORG said prices in the heavily-weighted sector were held back by a PERCENT drop in potato prices, as well as a fall in vegetable and fruit prices.
Kupka welcomed the DATE result, but said that when more foodstuffs from the domestic harvest come to the market toward DATE, prices could be pushed up as farmers look to offset rising production costs.
PERSON of GPE's ORG branch said he was pleased by the DATE figures, as he had expected a DATE increase of PERCENT.
""We have to wait for what the foodstuffs prices will do in DATE.But if they keep this pace, in line with the other basket components, we could get positive figures at DATE,"" PERSON said.
""The year-on-year rate could get PERCENT at the DATE's end if the trend continues... maybe the moving average as well.""
He added that other components of the basket also showed positive development, following low increases in producer prices in DATE.
The ORG said prices in the leisure sector dropped by PERCENT in DATE, thanks mainly to lower prices of holiday trips abroad. Education costs rose PERCENT due to an increase in fees at the beginning of the new school year.
Clothing prices rose PERCENT, housing climbed PERCENT, and transportation prices remained flat in DATE.
The ORG in DATE raised its average inflation forecast for DATE to PERCENT, and the cabinet based its DATE budget calculations on an average inflation expectation of PERCENT.",0
"When a company in GPE sells a book to a consumer in GPE from a Web site hosted on a computer in GPE, what laws govern the transaction?
As sales of all kinds of goods over the Internet continue to grow, questions are multiplying about basic regulations covering consumer protection, taxation and other issues.
""Most commercial law has built in a hidden assumption of geographical boundaries within which certain kinds of actions will occur,"" said PERSON, who runs an Internet site called WORK_OF_ART that auctions electronic merchandise. ""Now the legal system is facing a medium which is inherently boundary-less.""
For example, some states tax transactions that originate within their borders while others hope to collect so-called use taxes when their residents buy from out-of-state merchants. ""Sin"" laws on obscenity, gambling and sales of alcohol also differ from state to state and apply to some Web merchants.
With the potential for so much confusion, some online mavens argue the federal government should step in and set clear policies.
""The role of the federal government is to set national standards or national policy,"" said PERSON, president of ORG and a leading analyst of online companies. ""A lot of what we're talking about online transcends state borders and even national borders.""
A top priority is protecting consumers' private information.
""More regulation is really needed on the privacy issues compared to other areas,"" said PERSON, an attorney and author of the online ""WORK_OF_ART"" column. Existing laws protect some kinds of records, like medical data, but not other information, ORG said.
Both real and imagined privacy violations are feeding public sentiment in favour of reform. PERSON was deluged with protests DATE after word spread that the database company was selling personal information such as social security numbers and maiden names over the Internet.
The company responded that its P-TRAK product no longer provided social security numbers and never contained maiden names. But it withdrew the names of CARDINAL of individuals that asked to be deleted.
Following the controversey, ORG asked ORG to amend LAW, a law governing personal financial information held by credit agencies. The commission suggested the law be extended to cover nonfinancial information like social security numbers.
In many cases, however, the federal government is still deciding what steps to take.
ORG, which has a hand in tax policy, banking regulation and international trade, has several groups studying online commerce issues but has not reached any conclusions yet.
Top ORG officials and banking regulators have expressed a desire not to intrude on the nascent market for electronic money. Some banks would like federal rules barring non-banks from issuing electronic money.
""Heavyhanded, pre-emptive attempts to regulate these products before any social risks have been demonstrated would handicap innovation,"" ORG Gov. PERSON said DATE.
There is little confusion about criminal scheming online, however. ORG, ORG and ORG are all prosecuting online crooks and collecting complaints at their Web sites.
""It's not an area where we need new laws or new authority,"" PERSON, special counsel of Internet projects at the ORG said. ""It's the same swindles, just in a different medium.""","GPE's ORG metals group, a key supplier to world markets, said on DATE it was struggling with a shaky financial future despite keeping output steady at its top plant.
""We are undoubtedly in a state of financial crisis,"" said PERSON, deputy economics director at the ORG group.
Feldman singled out the high cost of maintaining social services in the inhospitable LOC of Russia where many of its leading plants are based. ""Our biggest woe is supporting the social sphere, a sphere which, I might add, the government should be supporting,"" he said.
A senior official at the LAW combine, the flagship plant of ORG group, said the facility's output had gone according to plan, with DATE nickel production at QUANTITY and forecast flat in DATE.
Norilsk is the world's ORDINAL largest producer of refined nickel, a principal component in stainless steel, and also accounts for PERCENT of world platinum and palladium production, according to metals analysts.
But ORDINAL Deputy Prime Minister PERSON was quoted by ORG on DATE as saying the plant might have to issue stock to pay off what the agency said was its CARDINAL rouble (MONEY) in debts or face bankruptcy.
PERSON is the former head of ORG, the big NORP commercial bank that controls a PERCENT state-owned stake in ORG from a DATE government shares-for-loans auction.
""We are constantly improving ORG's financial situation,"" said PERSON, director of ORG, the powerful NORP group that now handles nearly all of ORG's exports and is trying to streamline trading operations to boost profits.
""I wouldn't use the word crisis to describe us, because crisis is when production stops, and that is not happening. We are producing according to plan.""
Norilsk officials have for the ORDINAL time in DATE declined to provide immediate total group production results for DATE and DATE forecasts.
Uneximbank press relations director PERSON said the group had slightly overfulfilled its plan to boost nickel output by PERCENT and copper output by PERCENT in DATE, but gave no absolute figures.
The group's DATE nickel output was QUANTITY, while its refined copper output was QUANTITY.
CARDINAL of ORG's profits go to supporting social services in the expensive and vastly remote NORP, where CARDINAL of the group's CARDINAL key enterprises, including the flagship combine, are based.
""We want DATE to be DATE we stabilise, and we are doing a lot to make sure that this happens,"" PERSON said. ""But my position does not permit me to say this actually will happen.""
Potanin said Norilsk, if it did not agree to a share issue to raise capital, would be put in the hands of a special tax commission which could institute liquidation proceedings.
Oleinikov said he did not think a share issue would solve ORG's cash problems and called on the government to understand the logistics of producing metal in a frozen, inhospitable section of the globe.
""Our sector should have a strong state role because it is a core industry -- it supports people and, through its exports, the federal budget,"" PERSON said. ""Production will undoubtedly continue normally -- we take a lot of measures to ensure that.
Norilsk ordinary shares had fallen PERCENT to $MONEY at CARDINAL p.m.(1226 ORG) on ORG.
""The state should understand that to demand too much is to cut into production,"" PERSON said. ""They will not want to kill the goose that lays the golden egg.""
PERSON, +7095 941 8520 ($MONEY = CARDINAL roubles)",0
"PERSON said DATE that its decision to spin off its various business holdings and keep only its ORG unit should attract analyst coverage of the firm.
""The analysts on Wall Street were not interested in picking up coverage of the company"" because of its diverse holdings, said ORG spokesman PERSON.
No analysts actively follow PERSON, he said, which in addition to ORG includes telecommunications equipment distribution and meat and seafood businesses.  
PERSON said DATE it would retain ORG, which provides telephone and Internet switching equipment, and would change its name to ORG.
The other businesses -- including ORG, C&L ORG ORG -- will be grouped together in a yet-to-be-named company that will trade on the ORG.
GPE, a meat and seafood distributor, remains for sale, although a deal is not imminent. ""I know they are in discussions with potential buyers, but there is nothing close,"" PERSON said.  
After the split, he added, the core businesses of the new company will include ORG, which currently accounts for PERCENT of PERSON's total revenues.
PERSON's plans to split into CARDINAL companies follows its announcement DATE that it would restructure to make ORG a pure play, or a primary business focus.
""We did a survey of shareholders and found that many of the shareholders who hold the stock DATE...bought PERSON as a proxy for ORG,"" PERSON said in a telephone interview. ""So there's a lot of interest in the CARDINAL operating unit called ORG.""  
He reiterated that ORG, for DATE, is expected to have MONEY in sales and to be modestly profitable. In DATE, ORG's revenues were MONEY.
The increase in revenues between DATE reflects recent sales of its ORG switches, which are used in long-distance telecommunications services.
PERSON is expected to report results for DATE -- which for the entire firm ended in DATE -- on DATE.
PERSON's decision to split into CARDINAL companies was applauded by the market. PERSON's shares traded CARDINAL 41-3/4 DATE, and were up CARDINAL at CARDINAL late in TIME trading.
""We're obviously pleased at the way the market has reacted,"" PERSON said.
PERSON shares have traded in a wide range, from a DATE low of CARDINAL to a high of CARDINAL. PERSON has repeatedly declined to comment on its stock movements.
ORG Chicago Newsdesk (CARDINAL) DATE","The DATE sentence handed down on DATE to NORP dissident PERSON has awakened fears that critics of the NORP administration in GPE after the DATE handover could face a similar fate.
GPE hands GPE back to GPE in DATE time after DATE of colonial rule.
The sentence imposed on ORG sparked a flurry of debate in GPE on DATE over the shape of future laws on subversion in the territory.
GPE has for DATE been a sanctuary for NORP dissenters. CARDINAL mainland dissidents who fled the communist mainland live in exile in the colony.
The territory also has a large home-grown anti-communist democracy movement, which GPE officials have often branded as subversive because its adherents backed the DATE student-led pro-democracy protests in GPE's FAC.
GPE future constitution, LAW promulgated by GPE, requires laws to be passed after the handover to ban anti-constitutional activities, including subversion.
There has been intense speculation in GPE over what actions the law will ban and whether or not it should be legislated by a provisional body that GPE plans to appoint upon the handover, or a new legislature expected to be elected in DATE.
So will GPE ""dissidents"" face the same fate as ORG?
Members of the pro-Beijing political camp said no. ""I would certainly dispute any suggestion that could be the case,"" PERSON, a legislator and a member of the GPE-picked ORG working out transitional arrangements, told reporters.
""We have our own judicial system and courts, and it will be up to the GPE people to decide what that law is going to be like in the future,"" PERSON said.
But PERSON, head of GPE ORG, said he believed GPE dissidents would go to jail.
""If we have a similar law in GPE passed under LAW, then the GPE people's freedoms will likewise be curtailed,"" PERSON said. ""If we then do something which we do DATE lawfully, then we are liable to be put into prison, no matter how fair the judge is.""
The CARDINAL leading candidates jockeying to run GPE after DATE have all refrained from commenting on ORG's sentence.
But one, former chief judge PERSON, said he hoped it would be the DATE elected legislature which tackles the subversion law and not the provisional body that GPE plans to install after scrapping the current elected legislature.
""When the time comes for the legislature to legislate under LAW they will take into consideration the conditions of GPE, the laws of GPE,"" PERSON said.",0
"GPE's ORG leader PERSON appears to be making all the right moves to shore up his position to retain power after the death of paramount leader PERSON, diplomats and analysts said on DATE.
PERSON has declared war on corruption, crime and poverty -- scourges that have plagued GPE for DATE and led to the downfall of many a dynasty.
In his latest move, he used the party's DATE, annual closed-door plenum that ended in GPE on DATE to resurrect ideological puritanism -- spiritual civilisation -- which has been eroded by DATE of economic reforms.
Whether PERSON would be able to stave off challenges from rivals in the party and cling to power in the PERSON era hinged in part on the crucial ORDINAL party congress to be held in DATE, diplomats and analysts said.
The party's political heavyweights will be jockeying for position in the run-up to DATE congress, a DATE opportunity for reshuffles in the party's powerful ORG and its yet more influential standing committee.
NORP sources say ORG is debating a plan to revive the post of chairman and to create CARDINAL or CARDINAL vice chairman positions -- CARDINAL of which could be given to Premier PERSON, a loose ally of PERSON whose term ends in DATE.
PERSON is required by the constitution to step down as premier in DATE after serving CARDINAL DATE terms and is keen to find another job to remain in the top echelons of power.
Armed with the weapon of spiritual civilisation -- communist jargon for toeing the party line -- PERSON is battling to avoid the fate of his CARDINAL predecessors, analysts said.
PERSON and PERSON were sacked from the party's general secretary post in DATE and DATE respectively because their ""grip on material civilisation was tight but their grip on spiritual civilisation was loose"", CARDINAL NORP analyst said.
""They did not pay enough attention to ensuring that the party's position could not be challenged...that was what brought them down,"" an NORP diplomat said of PERSON and PERSON.
A plenum communique attested to PERSON's worries. ""From the start to the end, we should be resolute on tightening the grip on both,"" the plenum communique said.
""At no time can we sacrifice spiritual values in the name of momentary economic development,"" the communique said.
The spiritual civilisation campaign aims to create a communist utopia -- stamp out superstition, tighten the party's grip on media, instil politically correct values and create heroes and model workers whose orthodox NORP behaviour the populace at large should strive to emulate.
It is hardly rousing stuff. But PERSON may be desperate.
Analysts said PERSON remained overshadowed by PERSON, architect of the market-oriented economic reforms and still influential even without an official post and despite increasingly fragile health.
""In the midst of his great triumph, PERSON if he is all that powerful...there is no need for him to go out of his way to mention PERSON,"" a Western diplomat said referring to the communique that tips its hat to PERSON.
""PERSON...is still in consolidation mode...in the process of selling himself,"" he said. ""The jury is still out.""
PERSON is eager to consolidate his power base even after amassing the CARDINAL most important positions in GPE -- general secretary of ORG, state president and chairman of party's powerful ORG.
Many diplomats see PERSON as a transitional figure after the death of PERSON, which is widely expected to trigger a scramble for power among those eager to succeed him as the de facto emperor of the world's most populous nation.","ORG, the world's largest personal computer maker, will launch its ORDINAL computer workstations DATE with low-cost entrants that already have CARDINAL workstation maker scrambling.
""They have a fighting chance to really threaten some of the traditional vendors,"" said PERSON, an analyst with ORG, a market research firm.
On DATE ORG will unveil CARDINAL systems in the ""personal workstation"" area, the faster-growing segment of the MONEY market for workstations -- high-powered computers used by engineers and designers to perform complex calculations requiring enormous power.
Traditional workstations run on the UNIX operating system and the market has been dominated by ORG, ORG, ORG and ORG
But in DATE, ORG EVENT operating system has been making major inroads and a host of companies now develop lower-cost workstations running NT.
According to IDC, the personal workstation market -- workstations selling at prices from $MONEY to $MONEY -- is growing at a faster pace than traditional, UNIX-based arena, where systems cost from $MONEY up to $MONEY.
While Windows NT cannot yet handle some of the memory-intensive, highly technical applications, PERSON said, NT-based workstations are widely used for financial modeling, animation, and computer-aided design.
Engineers can also run their desktop applications, such as spreadsheets, word processing, and electronic mail, on the same system, instead of having CARDINAL separate computer systems.
""It's growing at an average rate of PERCENT a year,"" PERSON said of the personal workstation area, compared with traditional workstation growth of PERCENT, on a compounded annual growth rate, through DATE.
Already, GPE-based ORG's expected entry in the market has CARDINAL major vendor nervous.
DATE, ORG held a hastily-arranged conference call for analysts to discuss the formation of a new business unit that will develop ORG-based workstations running NT.
""It was an answer to ORG's initiative,"" said PERSON, an industry consultant in GPE, GPE Otherwise, he asked, ""Why would ORG give a heads up for a product that isn't ready until DATE?""
ORG's current line of workstations, the RS/6000 family, are designed around ORG's PowerPC chip and run on the UNIX operating system. In its DATE earnings report, however, ORG said its workstation business was flat, another indicator of the increasingly popularity of the lower-cost NT-based machines.
ORG is expected to introduce CARDINAL models in the MONEY range, IDC's PERSON said. A ORG spokeswoman declined to comment on the products to be unveiled DATE.
PC Week, an industry trade magazine, reported DATE that ORG will price its entry-level workstation at $MONEY, targeted to molecular modeling and computer-aided design.
CARDINAL other models, for the animation creation business, are priced from $MONEY to $MONEY, PC Week said.
As part of its recent product revamp, ORG, long a leader in the animiation workstation area, also recently introduced a less-expensive model called the ORG, which runs on UNIX, in response to the growth in the DATE-based machines.
But analysts said ORG and ORG will not likely embrace the ORG operating system NT anytime soon, even though it is poised to become the faster-growing workstation segment.
""Sun and SGI would rather die than do NT,"" said PERSON. ""That's the unfortunate thing ... At some point, the NT market share is going to be bigger than theirs.""",0
"GPE has arrived at the brink of history, set to name its ORDINAL NORP leader after DATE of NORP colonial rule.
At a gathering to be held under the red flag of communist-ruled GPE, GPE rich and mighty will meet on DATE to pick the ORDINAL post-colonial leader -- and the smart money is on shipping tycoon PERSON.
The vote by a CARDINAL-member NORP-controlled ORG, slammed by critics as a travesty of democracy, was viewed by most in GPE as a foregone conclusion.
A survey by ORG showed PERCENT expected GPE to win, while PERCENT of respondents would back him if they had the chance to vote. His nearest rival, Ti PERSON, would get PERCENT of popular support.
Sovereignty over the territory of CARDINAL people, CARDINAL of LOC's economic wonders and GPE's last major colony, reverts to GPE at DATE -- DATE from now.
The winner of DATE's vote by the committee will become the chief executive-designate of GPE, as GPE will be called from DATE.
On the eve of the vote a small band of pro-democracy protesters camped TIME outside the conference centre.
Some politicians and diplomats fretted about GPE-style repression. ""The people of GPE cannot trust him (Tung) to protect our rights...I cannot see how he is in a position to say no to GPE on any important issue,"" said legislator PERSON.
""Unless there is a complete change in the attitude of these candidates the outlook for human rights in GPE is very bad,"" said PERSON, head of ORG.
But the markets, a barometer of GPE fortunes, trumpeted bullish optimism. GPE stocks rebounded from recent losses to end CARDINAL points up, the index of GPE-linked H-shares soared to DATE highs in the largest DATE gain in history, and forecasters predicted a DATE property boom.
Publicly espousing ""consensus"" rather than confrontation with GPE, and collective duties over individual rights, and blessed by a public handshake from President PERSON in DATE, DATE GPE-born Tung grabbed CARDINAL votes in the ORDINAL round of voting DATE by the committee.
He only needs CARDINAL to win the clincher on DATE. Some GPE newspapers were already putting the finishing touches on DATE to a slew of Tung-the-victor profiles for DATE.
If he wins, he will be greeted by a no-confidence debate presented by lawmaker Emily Lau, CARDINAL of GPE's loudest critics, in GPE ORG (Legco).
Governor PERSON has vowed support for the future leader, whoever he is, in the twilight of NORP rule.
But Tung has not responded to the plege. He has said he will consult GPE respected civil service on how best to run the territory and ensure a smooth transition.
""Nobody wants the present administration to be turned into a lame duck,"" Tung said on DATE.
If he wins, PERSON will spend DATE assembling a cabinet of advisers to guide policy. His team is expected to be highly pro-business.
He will also lay the groundwork for a provisional legislature, soon to be picked by the same ORG, to take over from the present elected GPE DATE.","NORP envoys on DATE dismissed reports that CARDINAL of GPE people in GPE may be forced to flock home en masse ahead of GPE DATE handover to GPE in order to protect their residence rights.
GPE's commissioner in GPE, PERSON, and the country's ambasador to GPE, PERSON, said they believed GPE would soon decide on the issue, which has been a stumbling block in NORP talks on the territory.
But ORG said GPE people who had emigrated from the NORP colony might have to live in GPE as NORP in future and lose their local voting rights after it becomes GPE (SAR) of GPE on DATE.
PERSON told reporters he had been informed by GPE's envoy in GPE, PERSON, that progress was being made by NORP and NORP negotiators on the problem of right of abode.
The question is CARDINAL of the major unresolved issues facing the NORP ORG (ORG), which meets DATE.
""This is a good file. It's one on which progress is being made. Mr PERSON said he expected that we would have a decision announced in the ORG soon -- my guess is probably in DATE,"" ORG said.
""It now seems fairly obvious that you do not have to be physically present in GPE to protect your interests if you are already a permanent resident of GPE before the transition,"" he said.
However, ORG said questions remained about political and working rights of GPE emigrants who return to live in the territory after DATE.
Of all NORP nations, GPE has CARDINAL of the largest immigration relationships with GPE.
Apart from CARDINAL GPE people who have emigrated to GPE in DATE, CARDINAL NORP citizens live in GPE, many of them originally GPE citizens.
Press reports in GPE have quoted NORP officials warning of a chaotic mass return of GPE emigrants if GPE insists on them being in GPE in person on EVENT in order to keep their residence rights.
NORP officials have said in the past that this would be their bottom line, but the ORG has reached no agreement on it.
GPE has delayed a decision on granting visa-free entry to holders of a new GPE passport to be issued after the handover, pending guarantees from GPE on the repatriation of NORP who enter GPE illegally.
Replying to a reporter on DATE, ORG denied GPE had any grounds to believe the SAR passport had been compromised from a security viewpoint.
GPE declined to confirm or deny that significant numbers of NORP illegal immigrants had entered GPE using GPE documents that were illegally issued or obtained.
The envoys also denied local press reports that GPE had received a comprehensive list of NORP dissidents living in exile in GPE, and that it planned to grant them refuge after DATE. They said some individual dissidents had come forward but declined to comment further.",1
"A federal appeals court on DATE overturned a jury verdict that ordered ORG to pay MONEY for patent infringement.
With interest, the company could have been forced to pay MONEY to tiny ORG for a technology allegedly used in the hugely popular ORG game device, ORG Chairman PERSON said in an interview.
But in a CARDINAL-page decision, ORG in GPE, GPE, overturned the jury's decision that the ORG patent had been infringed.
""It's a complete victory,"" ORG said. ""I think our nightmare with these folks is over.""
Alpex, which ORG described as a bankrupt mining concern, filed suit in DATE, charging ORG's CARDINAL-bit game device used a patented ""bitmapping"" display technology patented by CARDINAL NORP engineers in DATE.
In DATE a GPE ORG jury agreed and ordered ORG to pay a PERCENT royalty on each of the CARDINAL game units sold in GPE.
But a CARDINAL-judge panel of the appeals court in GPE, which handles patent cases, said in a CARDINAL-page decision it found a ""lack of substantial evidence to support a finding of infringement either literally or under the doctrine of equivalents.""
ORG's technology was used in early generation video games made by ORG, ORG and ORG. The company later won patent infringement settlements from ORG and others.
But with the appeal victory ORG preserved what ORG said was a perfect record of fighting in court to protect its intellectual property rights.
ORG said the case ""cries out for a change"" in the patent litigation system because it required a jury of laymen to sit through an DATE trial that hinged on complex technical details of data storage and image display.
""The problem is you ask these juries to in effect become electrical engineers, and quite frankly the jury was not composed of electrical engineers,"" ORG said.
He also said the case was kept alive by lawyers working on a contingency-fee basis who stood to make huge profits.
While Alpex could appeal to the full appeals court or ORG, ORG said he was confident ORG would prevail.
Lawyers for Alpex could not be reached for comment.","ORG reports earnings on DATE and analysts expect growth of PERCENT for DATE, boosted by sales of personal computers, other hardware and its fast-growing service business.
Industry analysts expect the improvement after DATE for ORG, the nation's biggest computer company, and despite a product transition that depressed results in its mainframe business.
The strong dollar will also constrain ORG's results, though not as much as in DATE, analysts said.
""I don't hear any whispers that it's a blowout or any whispers that it's going to be soft,"" said PERSON at ORG. ""I think it's going to be modestly above consensus.""
According to ORG, which tracks forecasts, ORG is expected to earn $MONEY a share, on average, up from $MONEY a share, in DATE. Estimates range from $MONEY a share to $MONEY a share.
In DATE ORG earned MONEY excluding a CARDINAL-time charge of MONEY associated with its aquisition of ORG the ORG charge, ORG lost MONEY, or MONEY a share.
ORG stock rose $MONEY to $MONEY on ORG, as some investors were apparently betting on solid results.
Sales grew in all of ORG's hardware businesses except mainframes, where tough pricing by competitors and ORG's transition to a new line of low-cost ORG machines constrained results, analysts said. CMOS, or complimentary metal oxide semicondutor, mainframes are cheaper to manfacture and use less power.
""DATE is not all that important a quarter,"" said PERSON at ORG. ""It was still a transition for the mainframe products. They started shipping them in volume on DATE,"" right when DATE.
PERSON at ORG said ORG most likely benefited from the sharp drop in memory chip prices that hurt its semiconductor operations in DATE. ORG's ORG unit makes the dynamic random access memory (DRAM) chips that are the brains of many PCs.
""In DATE, the company felt the pain as a producer,"" PERSON said. ""But in DATE, many of those low-priced DRAMs were incorporated in ORG PCs and they saw a net benefit as a consumer,"" he said.
Analysts said they expect the rest of ORG's hardware businesses to show growth, including personal computers, AS/400 minicomputers, which are used in corporations and are the company's ORDINAL most profitable computers, and RS/6000 workstations, used by engineers and designers.
PC sales growth will not match DATE PERCENT rate, analysts said. ORG was upgrading products in DATE, which helped ORG's PC sales.
""DATE they had DATE in DATE (in PCs),"" said ORG's Ries. ""The significant contributing factor to that was that ORG was refreshing their product line.""
But ORG said PC demand was very strong now, especially with corporate customers, CARDINAL of ORG's strengths.
Analysts also said they expect continued strong growth in ORG's computer services, the stellar performer DATE with growth of PERCENT.
""Services will continue to grow at PERCENT,"" WORK_OF_ART said.
ORG Chief Financial Officer PERSON and other executives will discuss the results with analysts on DATE TIME in GPE.",0
"ORG stock rose CARDINAL points DATE amid resurgent speculation that it may be an acquisition target of a major network equipment player.
    ""It sure looks like people are speculating that its going to be taking over,"" said PERSON analyst PERSON, who maintains a long-term attractive on the stock.
    Shiva shares have risen PERCENT in DATE. By TIME DATE, the stock was trading at CARDINAL, up CARDINAL points on DATE.
    Shiva declined comment on what it called ""a market rumor.""
 ""We have had rumors like this before,"" said PERSON, ORG's chief financial officer. ""Our firm policy on this is not to comment on market rumors,"" she said.
    Several analysts said signs of merger speculation were apparent in the stock's recent gains.
    Cowen & Co analyst PERSON noted that ORG was mentioned in a trade magazine gossip column published DATE as among potential merger candidates in the network industry.
    The article, published in the DATE issue of EVENT, spoke of a possible tie-up between rival ORG and ORG, among others.
    Stix said another factor behind the rebound in DATE of ORG's share price may be the company's comments in public forums that it has a potential major contract win with a major telecom carrier it has declined to name.
    The ORG analyst maintains a strong buy on ORG.
    The stock hit a low of CARDINAL in DATE, following a steep DATE decline from its historic high of CARDINAL reached in DATE, when it was a favorite among momentum investors.
    Although enthusiastic about ORG's business fundamentals, PERSON discounted any recent product announcements as the cause behind the recent share price moves.
   ""This doesn't appear to me that its product-related. It's too violent,"" he said. ""It's not valuation-related either.""
    Analysts consider ORG CARDINAL of CARDINAL pure plays in the explosively growing market for remote access
telecommunications equipment. The other is high-flying ORG, the dominant player in the market.
    PERSON said PERSON might also prove attractive to any of the large data networking companies seeking to gain quick market share in the remote access business.
    ""With a company in ORG's position, I can't think of a company that wouldn't be interested,"" he said.
 Johnson said that ORG, which by his estimates has PERCENT of the remote access market, may prove attractive to any of the major network industry leaders -- ORG, ORG or ORG
    He left off ORG from the list of potential buyers, noting that ORG had acquired ORG in DATE to beef up its remote access line.
    Shiva has carved out a strategic niche in the market for remote acccess products, which are used by companies, Internet service providers and telecommunications carriers to handle data communications over far-flung wide-area networks.
    Shiva is the No. CARDINAL supplier in remote acccess, behind ORG, which  holds PERCENT of the market, and GPE Robotics, a more diversified company with a PERCENT share, according to ORG's estimates.
    Stix said ORG, in partnership with ORG, has the lead in a new type of network switching product that allows telephone carriers to address the growing overload of their voice networks by Internet data traffic.
    -- Wall Street bureau, CARDINAL-859-1736  ORG","GPE's ORDINAL largest telephone carrier ORG rang up its ORDINAL DATE profit on DATE and is on track for its sharemarket float by DATE.
Optus, established at DATE to compete with GPE's main telephone carrier, state-owned ORG, reported a pre-tax profit of MONEY (MONEY) in DATE.
This compares with a loss of MONEY in CARDINAL.
""After a tremendous effort during its DATE, ORG is now in a very strong position to capitalise on the many opportunities presented by the rapidly growing telecommunications industry,"" chief executive officer PERSON said in a statement.
The profit was within expectations. Telecommunications analysts forecast Optus to deliver a profit before abnormals of MONEY.
""I don't think the market will be disappointed,"" said CARDINAL GPE-based analyst. ""I think the revenue is a little bit down on what they were talking about.""
The results reflected strong revenue growth of PERCENT to MONEY in CARDINAL, with high revenue increases from its CARDINAL main businesses of mobile telephones, long-distance calls and services to the corporate and government sector, chief operating officer PERSON said on DATE.
Optus, PERCENT owned each by ORG and GPE's Cable and Wireless Plc, said in DATE it expected to achieve MONEY in revenue in CARDINAL.
The GPE-based group is still expected to make its sharemarket debut by DATE, PERSON said.
""The float's planned to occur this side of DATE and the prospectus is progressing to plan, but it is not done,"" he told reporters after the results anouncement.
The float is expected to raise MONEY, making it the largest telecommunications company to list on ORG, with PERCENT of the company shares to be listed.
Optus will later be joined by NORP on the stock exchange.
The NORP government plans to raise MONEY from the sale of CARDINAL of NORP in CARDINAL, which will be just after full deregulation of GPE's telecommunications industry on DATE.
Despite chalking up its ORDINAL DATE profit, Optus incurred increased losses from its PERCENT-owned pay television and local telephone call operator ORG.
Optus said its share of losses from ORG was MONEY, which were mainly due to the start-up of the offshoot, which is spending MONEY rolling out its nationwide fibre optic cable network to provide pay TV and telephone services.
ORG, which includes GPE's richest man PERSON amongst its shareholders, reported a loss of MONEY in CARDINAL, in its DATE of operation. The company has not announced its CARDINAL results.
Switkowski was coy CARDINAL forecasts. ORG was completing its prospectus for the sharemarket float, which would contain revenue and profit forecasts.
However, PERSON predicted that revenue from its mobile telephone business would exceed revenues from its long-distance calls due to strong local demand, as GPE has CARDINAL of the highest penetration rates for mobile phones in the world.
(A$MONEY = US$MONEY)",0
"A federal judge DATE accepted ORG price-fixing guilty plea and ordered it pay MONEY in fines, but the action did not put an end to the scandal at the farm products giant.
Shortly before ORG Judge PERSON (corrects from PERSON) PERSON accepted ORG's guilty plea to CARDINAL counts of price fixing, ORG officials in GPE said they were continuing their investigation of CARDINAL company officials.A ""This is not a good day for corporate GPE,"" Castillo said in accepting the company's guilty pleas and confirming separate fines of MONEY and MONEY -- by far the largest ever in a price-fixing case.
The judge said he recognised that some parties might criticise the fines as being too low, but said he believed they would serve as a deterrant to any company that is tempted to fix prices.
""No NORP company is above the law,"" Castillo said.
Under the plea agreement PERSON accepted, ORG will pay a MONEY fine for fixing prices of lysine, a feed additive, and MONEY for fixing prices on citric acid, an additive used in food, beverages and other products.
Earlier in GPE, Deputy Assistant Attorney General PERSON said federal authorities were still gathering evidence in the case involving CARDINAL ORG officials, Vice Chairman PERSON, and PERSON, a vice president in charge of ORG's corn refining division.
Attorney General PERSON, who joined Spratling at a news conference, also said the settlement should send a message worldwide to corporations that if they engage in collusive behaviour that hurts GPE consumers, ""there will be vigorous investigation and tough, tough penalties.""
GPE Attorney PERSON of LOC said that under the agreement, Archer ORG officials are required to cooperate with ORG in its ongoing investigation.
""You should stay tuned,"" said PERSON. ""There will be more to come.""
The company, meanwhile, said its profits plunged in DATE after it took a MONEY charge related to the fines and other litigation settlements arising from the lysine and citric acid cases.
ORG said its net income for DATE fell to MONEY, or MONEY a share, from MONEY, or MONEY a share.
The company's stock was unchanged at $MONEY in late trading on ORG.","ORG board of directors, at its regularly scheduled meeting on DATE, is expected to decide the fate of the chemical business that the company has said it wants to shed, analysts said.
A ORG spokeswoman on DATE confirmed the ORG board is meeting on DATE, but she declined to comment on what it might do.
""I can confirm that the board is meeting DATE,"" she said. ""I cannot ever presume board discussions, actions or vote, and we won't comment on that sort of speculation.""  
In DATE, ORG said it was considering several options, including possibly spinning off its non-agricultural chemical business.
The remainder of ORG would be a life sciences company with core businesses of agricultural chemicals such as its flagship ORG herbicide, biotech operations and the ORG pharmaceutical unit.
Another possible option for ORG would be to sell or merge the chemical business with other firms.  
""Probably a spinoff is likely,"" said ORG analyst PERSON. ""There is a significant tax liability of selling it (the chemical business). The capital gains tax on it could be MONEY plus or minus.""
Among the possible suitors mentioned for ORG's chemical business was PERSON, analysts said. They added that ORG could be interested in the PRODUCT food and beverage flavors business held by GPE and its joint venture partner, ORG  
GPE and ORG have previously said they were seeking a buyer for ORG. But a ORG spokeswoman said no offers had been received for ORG and no agreements had been signed.
The ORG spokeswoman declined to comment. GPE was not available for comment.
Should Monsanto opt to swap its chemical business for assets of another company it would reduce its tax liability, analysts said.  
Whatever action ORG takes, analysts said they expect the board of directors to decide the course of action at the meeting on DATE.
""This is the last board meeting of DATE. It is a planned meeting,"" ORG analyst PERSON said.
Speculation that ORG was near a long-anticipated final decision on its chemical businesses helped boost the stock, which ended DATE up CARDINAL at CARDINAL.
Analysts have previously said that shedding the chemical operation, which are profitable, would enable ORG's life sciences business to trade at a higher multiple.
((ORG Chicago Newsdesk (CARDINAL) DATE))",1
"Protesters hit GPE streets on DATE, paralysing rush-hour subway trains and closing businesses in GPE's biggest city to protest deep budget cuts by GPE's Conservative government.
Underground subway and bus service ground to a halt in this city of CARDINAL people, forcing CARDINAL commuters to walk, drive or cycle to work or stay home.
""They're picketing all over the place, so we've postponed service,"" said PERSON, a spokeswoman for ORG.
Unionized workers, civil servants and social activists also descended on government offices and factories on DATE of the so-called ""WORK_OF_ART.""
But picketers failed to disrupt commuter trains from GPE's bedroom communities or interrupt service at FAC, the country's busiest.
ORG had expected protesters to disrupt trading, but GPE's biggest stock market opened as usual.
CARDINAL brokerage firm flew traders to its GPE office to work, while other brokers slept in hotel rooms or in their offices TIME.
The stock exchange has been targeted for a major rally TIME DATE.
The protesters are furious with Premier PERSON' plans to cut spending by MONEY (MONEY) to wipe out a huge deficit by DATE.
Since sweeping to power in DATE promising a right-wing revolution in GPE's most populous province, the NORP have revamped labour laws, slashed welfare payments, introduced workfare and announced plans to close hospitals and trim education budgets.
""These cuts that PERSON made are hurting the workers. This is part of the polarisation that is happening in GPE. The anger is going to grow and grow,"" PERSON, president of the GPE division of ORG, told picketers outside a government building.
But PERSON, who has been dubbed ""Newt of the LOC"" in reference to NORP ORG Speaker PERSON, has vowed the protests will not stall his ""Common Sense Revolution.""
Despite the opposition to his government, the NORP' popularity continues to hold PERCENT in opinion polls.
Protesters waved placards and temporarily blocked cars from entering government parking lots, but GPE police said there were no major incidents of violence.
CARDINAL man was charged with a weapons offence after allegedly threatening pickets with a baseball bat outside a bus garage. There also were skirmishes outside a postal station.
Many commuters took the delays in stride.
""I see the protesters have a point, but I think it's going to inconvenience a lot of people who don't have any other choice,"" said PERSON.
Several major manufacturers cancelled day shifts. ORG, a unit of transportation firm  ORG, said CARDINAL employees at its GPE aircraft plant will be off the job DATE.
The protest will not affect ORG NORP unit, which is getting back to work after a nearly DATE strike ended DATE.","A GPE appeals court in GPE is set to hear arguments DATE on whether to reactivate or throw out a major ORG order opening the MONEY local phone market to competition.
Lawyers and analysts predict the ORG and its long-distance phone company allies will lose the latest battle to ORG, the PERSON, other local carriers and state regulators who want to overturn the order. It spells out how new entrants to the local phone business can link to ORG local networks.
The appeals court suspended the ORG order in DATE, pending DATE's case. ""The ORG faces a tough uphill battle,"" said attorney PERSON of ORGamp; PERSON. ""This case is headed for ORG.""
As a result, the ORG's ""interconnection"" order is likely to hang in legal limbo for DATE while it is fought over in court -- a prospect analysts expect will cloud the phone industry's outlook and weigh on phone company stocks.
""It adds to the uncertainty out there,"" said analyst PERSON of ORG.
The order was meant to implement the DATE communications law, which allowed local and long-distance carriers, cable-TV operators and others into each other's business.
The appeals court, in suspending the order, sided with the local carriers and state regulators who charged that the ORG overstepped its power by issuing national rules on pricing and other matters instead of leaving those issues to the states.
The court wrote that opponents ""have a better than even chance of convincing the court the the ORG's pricing rules conflict with the plain meaning"" of the DATE law.
With the order expected to remain on ice for a while, lawyers and analysts said state regulators and federal judges will have the chief job of prying open local phone monopolies to long-distance companies such as ORG and others.
ORG Chairman PERSON warned that piecemeal deregulation -- with judges around the nation ultimately deciding terms for opening local phone markets -- would have a ""very negative impact"" on industry efforts to raise capital.
ORG officials have said the case will not be resolved before the high court until DATE, at the earliest.
The order requires the ORG and other local carriers to lease their phone lines to new competitors at discounts of PERCENT.
The ORG also ordered local carriers to ""unbundle"" their local networks into pieces -- such as call-switching devices and operator and directory assistance -- so new competitors can lease components to complete their own networks.
The ""unbundled elements"" were to be priced at competitive levels based on the cost of new and more-efficient facilities.
In the meantime, state regulators have been issuing decisions on terms for opening the local markets. ORG Chairman PERSON said that despite the suspension of his agency's order, CARDINAL of CARDINAL states so far have adopted the ORG pricing policies.
But even those decisions are being challenged. ORG in particular, as well as ORG, have appealed some of those rulings to federal courts around the country.
PERSON, a former ORG general counsel, blamed the legal morass on ORG, saying lawmakers ""botched"" the job of writing the DATE law. ""The whole idea was that the courts weren't going to be determining this,"" he said.",0
"NORP property company PERSON, under fire from a group of shareholders calling for it to be broken up, said on DATE it was confident of getting the support of its institutional shareholders in rejecting the plan.
""I would be very surprised if they (PERSON's institutional shareholders) would come down on the side of a closing down sale,"" PERSON's chief executive PERSON told ORG.
PERSON said he believed the liquidation proposal by ORG, which will be put to shareholders in DATE time, was ""ill-conceived and fails to secure shareholder value"".  
Earlier Greycoat wrote to its shareholders urging them to reject the resolution, put forward by rebel shareholder PERSON, at an extraordinary general meeting on DATE.
ORG (ORG) advises ORG and is expected to put out its own response to the statement later DATE.
DATE PERSON said it was time to ""unlock the value of PERSON"" as the company's shares stood at a PERCENT discount to the forecast net asset value for DATE.
He said there was ""considerable support"" for the proposal to dispose of PERSON's assets and enhance shareholder value.  
PERSON, which focuses on central GPE office developments, earlier announced a rise in interim pre-tax profits to CARDINAL stg and predicted a final dividend of MONEY per share.
PERSON said the results showed the company was having DATE, adding it was well placed to take advantage of favourable investor sentiment on the central GPE property market. ""The whole market is moving in our direction,"" he said.
The share discount to net asset value had been worsened by the fact that ORG held PERCENT of the shares and this was overhanging the market, he added.  
PERSON, PERSON's finance director, said the company had got its long-term debt in place, adding that its lender banks were not in any way ruffled by the current uncertainty.
""The novelty has worn off from the bank's point of view,"" ORG told ORG. To get rid of the bank debt, which would be required by any liquidation plans, would cost ""QUANTITY stg"", he added.
ORG said he expected good growth in the dividend in the medium term, in line with the group's policy of progressively increasing it. ""There is no reason why we shouldn't continue at the higher rate of profit,"" he said.  
While PERSON does not intend to use further resources on development sites, it is likely to use the cash generated by the sale of its FAC property for investment.
PERSON said discussions were already underway with several parties, but he stressed the company would not pay over the odds, would not compromise on what it wanted and would not buy anything in the market.
Rather than concentrating on a single asset, there would be CARDINAL purchases or ""possibly more"". PERSON had CARDINAL stg to spend and this would be geared up to around 50 million stg cash and the same amount of debt, PERSON added.
-- GPE Newsroom ++ 44 171 542 7719","GPE's largest home loan lender, ORG, said on DATE it was confident of avoiding any takeover attempt when it floats on the stock market and sheds mutuality for bank status DATE.
""We think we can stand on our own feet,"" PERSON, ORG's director of corporate affairs said.
The society, currently owned by its savers and borrowers, gave details of the timetable for conversion and flotation, which analysts have said could be worth MONEY (MONEY).
The building society's CARDINAL members will vote DATE on the conversion, which it is billing as the largest single extension of private share ownership in GPE.
ORG said a decision to transfer its business to an existing subsidiary rather than to a company specially formed for conversion meant it would lose DATE protection against takeover but underlined its confidence.
Analysts said the consolidation of GPE's financial services market is likely to continue, which could make the large and successful ORG a possible target.
The flotation will project the society into the top CARDINAL companies in GPE's blue chip ORG CARDINAL stock index and ORG said he was confident that shareholders would be convinced by its past performance to reject any bid attempt.
The concersion method raises the voting threshold needed for the plans to go ahead, but ORG said he believed the necessary PERCENT of investing members entitled to vote would be met.
""We have no real concerns as far as the voting is concerned,"" he said, adding that previous building society conversions achieved approvals of PERCENT.
""It will be a high-profile exercise, backed up by plenty of marketing,"" ORG said.
But members eagerly expecting to find out how big a windfall they are likely to receive when they receive free shares will have to wait until DATE before getting any indication.
The ORG said its members would be given full details of the conversion plans and share distribution scheme. This will tell them the number of shares they are entitled to and indicate their likely price range, based on prevailing market conditions.
Gilchrist said members would get a ""broad idea"" at this time, but would not be drawn on what the share hand-out was likely to be worth to the average investor.
He also declined to comment on the cost of the conversion exercise. But it seems likely to provide a boon to GPE's postal service and the printing industry as well as the financial and legal advisors working on the plans.
""The major element of cost is printing and mailing. We will be sending CARDINAL items of mail,"" he said.
Halifax members will be urged to vote ""as quickly as possible"" on the proposals and a special general meeting will be held in DATE. If members vote in favour, they will be sent details of share allocations in DATE or May.
ORG said the ORG had not yet done any market research on how many members would sell or retain shares.
""We are not trying to persuade people one way or another whether to hold shares or to sell the shares,"" he said, adding the ORG would sound out members nearer the time.
The society will remind its members that they should have MONEY in total in their accounts on DATE.
If eligible for a variable distribution of extra free shares they ""may need to top up their share accounts to the DATE level by the date of the special general meeting"" to qualify for the maximum number of free shares, the ORG said. ($MONEY Pound)",1
"Most software publishers are expected to report only modest increases in their latest earnings, reflecting a seasonal slowdown and a lack of new products DATE.
""For the behemoths of the industry, like ORG and ORG, business is still good,"" said PERSON, an analyst at ORGamp; Co. in GPE.
""Summer is the slow buying season for most of the industry,"" but setting aside the seasonal slowing, ""business is still pretty okay,"" he said.
Analysts expect ORG, the world's biggest personal computer software publisher, to report substantially higher earnings for DATE on the back of strong sales of its networking software and business programmes. ORG is scheduled to report results DATE.
Better-than-expected sales of personal computers in DATE also will contribute to ORG's revenue, analysts said.
ORG, based in GPE, GPE, makes CARDINAL of its revenue from the sale of its PRODUCT family of operating systems -- a type of software that controls the basic functions of a personal computer.
The company benefits from strong PC sales because PC makers have to pay ORG a royalty for every copy of Windows they pack in machines they make.
Wall Street expects ORG to earn MONEY a share, according to a survey of CARDINAL analysts by ORG, which tracks Wall Street analysts' estimates. In DATE, ORG earned MONEY a share.
Unlike ORG, however, ORG, the biggest publisher of computer networking software, is not expected to perform as well.
The company is struggling to sell its PRODUCT flagship software, which manages networks of computers within a company, in the face of competition with ORG's EVENT.
ORG, based in GPE, GPE, also faces management issues following the resignation of PERSON as chief executive, said PERSON, an analyst at ORGamp; Co. in GPE.
""They clearly still have a lot of work to do"" to get the company's management in order, PERSON said.
ORG is expected to earn MONEY a share in DATE, compared with MONEY DATE, according to a ORG survey of CARDINAL analysts.
Meanwhile, vendors of software for large, corporate computer networks and database management tools will continue to post substantial gains on continuing strong demand, analysts said.
""For a relatively mature market, this niche is still growing at a good clip,"" said PERSON, an analyst at ORGamp; ORG in GPE.
PERSON said he expects ORG and ORG to report the most impressive results on strong sales of their database software -- programmes that help big companies keep track of huge libraries of corporate information.
Both are stealing business from ORG, another database software publisher, which is still struggling to recover from marketing and technical shortcomings DATE.
Sybase is expected to report it broke even in DATE, not counting charges for a restructuring, PERSON said. In DATE, ORG earned MONEY a share.
Oracle, the biggest database software publisher, is expected to earn MONEY a share for DATE, according to a survey of CARDINAL analysts by ORG. DATE it earned MONEY.
ORG is expected to earn MONEY a share, according to a ORG survey of CARDINAL analysts. DATE, ORG earned MONEY.
ORGamp; ORG's ORG said ORG could pass Sybase DATE in revenue to become the ORDINAL biggest database vendor.","Security forces in GPE have summarily executed scores of people since a DATE official decree sanctioned instant justice for criminals caught in the act, local human rights officials said on DATE.
A pregnant woman, streetchildren and supected thieves are among victims of public executions reported, but human rights groups fear scores of other killings were carried out secretly.
""The policy has been carried out since DATE. It is quite open but the total numbers killed are not,"" a charity worker who gave her name only as PERSON told ORG.
""We are called out to scenes of executions and we talk with relatives of those killed,"" she said.
Officials confirmed the shoot-at-sight decree, but refused to go on the record. Instead they cited a public statement by President PERSON whose office issued the order to paramilitary gendamrie commanders nationwide.
""N'Djamena is being held hostage by real organised gangs which, when they are apprehended by the law, are systematically freed again by the justice system. After they are freed they continue to give law enforcers problems,"" PERSON told a news conference after meeting rights groups on DATE.
Insecurity is a major problem in GPE, which has been gripped by internal conflict or war with GPE for DATE until DATE.
""Crime is a huge problem. The whole place is run by the army and bandits and roads outside ORG are subject to roadblocks by robbers,"" a NORP resident said.
The vast but largely desert country also borders the volatile states of GPE and NORP, with whom it is seeking a common strategy against cross border banditry.
A transport worker at a dock on PERSON was among victims of the shoot-to-kill order listed by the human rights groups.
""A docker accused of breaking into an empty container was executed in the market. The shooting caused CARDINAL pregnant woman at the scene to miscarry under emotional shock,"" the Chadian Human Rights League (LTDH) said in a DATE report.
A GPE-based human rights group, in its account of the executions, said a pregnant woman suspected of stealing grain in a market was shot dead on the spot by gendarmes on DATE. A boy was put in a bag and shot dead on the banks of the PRODUCT river in similar circumstances DATE.
CARDINAL suspected livestock thieves were shot in public on DATE, ORG told ORG.
A copy of the DATE order to security forces seen by ORG in ORG read in part:
""We remind you once again that robbers must not be the object of normal procedures (of arrest). If one is caught in the act, you must immediately proceed with his physical elimination.
""Non-application of this order will result in very severe punishment including possible loss of rank and sacking from the force.""
LTDH workers say CARDINAL gendarmerie officers who leaked the order were taken into custody and had not been seen since. The CARDINAL, named as PERSON and Abel Djimong were arrested on DATE and taken to ORG prison, they said.",0
"PERSON ORG on DATE reported a lower than expected profit for DATE of CARDINAL, but later told analysts it remained confident of a PERCENT profit boost for DATE.
Strong earnings from the hit movie EVENT and buoyant NORP newspaper sales helped drive net profits before abnormals PERCENT higher to MONEY (MONEY).
Abnormal losses of MONEY cut final ORDINAL CARDINAL profits down to MONEY from MONEY DATE.
But the result was below analyst forecasts of a pre-abnormals profit of MONEY.
""Everyone's a bit disappointed,"" said a ORG analyst.
PERSON, the head of equities at broker GPE, described the result as moderate.
""It certainly wasn't a startingly good result. The market has made its judgement,"" Sekely said. News' shares fell MONEY to A$MONEY after the result, but closed in GPE at A$MONEY.
""It's MONEY less than what the market would have liked and to still reach that (PERCENT profit growth) outlook, it's got to make up the difference in DATE,"" the ORG analyst said.
ORG had said in DATE when it posted a MONEY net profit for DATE that it expected strong movie and television revenues to increase profits by PERCENT in CARDINAL.
PERSON repeated the forecast in DATE, but the group has been publicly tight-lipped about it since then and its DATE results were also lower than expected.
However, ORG reassured the analysts in a teleconference briefing after the ORDINAL CARDINAL result, saying that it still expected PERCENT profit growth for CARDINAL.
""They did say that they're still on track for PERCENT growth,"" another GPE media analyst said after the briefing between company officials and GPE and NORP analysts.
Analysts said ORG officials were bullish about catching up in DATE and had pointed to a strong outlook for movies and GPE television and newspapers.
Operating income from News' ORG unit surged to MONEY for DATE of CARDINAL from MONEY DATE, due largely to EVENT.
Analysts said the re-release of Star Wars and other films would help further boost movie revenues in DATE.
Sharply lower television profits in DATE because of lower ratings from News' ORG television network and higher programming costs surprised analysts.
But analysts expect a rebound in revenues from ORG television in DATE due to a successful EVENT broadcast and the new hit animated comedy King of the Hill.
NORP newspaper profits rose PERCENT in DATE, with gains in circulation revenues at The ORG, the ORG and ORG said.
""All of the company's newspapers have maintained their dominant position in each of their respective markets, despite cover price increases instituted during DATE at both The ORG,"" the company said.
Analysts said NORP newspapers would again perform well in DATE. ""Regardless of what's happening with volumes and prices, which are looking quite good, the relative position on paper prices is improving,"" said ORG analyst PERSON.
In contrast, NORP newspapers posted only a slight increase in prodit in DATE reflecting a slow economy.
While ORG said losses at its burgeoning NORP satellite broadcaster ORG in DATE were in line with expectations. (A$=US$MONEY)","Banking analysts said on DATE they were positive on implications for ORG in its joint venture into supermarket banking with J Sainsbury, with CARDINAL analyst even upgrading his recommendation.
Others maintained their positive stances on the NORP bank and played down the negative impact the innovative plan would have on the rest of the retail financial services sector.
""The Sainsbury move is a confirmation of ORG strategy of alternative distribution into GPE,"" ORG banking analyst PERSON said.
ORG and BZW reiterated their positive stances on the group while SBC GPE upgraded its recommendation on the stock to ""trading buy"" from ""hold,"" market sources said.
Bank of GPE's link with ORG is seen giving the bank a boost in the NORP market. The move is expected to help the bank enlarge its small retail customer base in GPE and find a new outlet for its range of financial services, which it can sell through its excellent technological infrastructure.
Bank of GPE's low-cost operation could mean ORG could offer a better rate to depositors than customers currently get through retail store group ORG's link with ORG, BZW said in a research note. ORG currently offers PERCENT on deposits.
But even so, analysts doubted existing banks will lose many accounts to ORG, which is due to begin trading in DATE.
""I don't see a material threat of switching,"" said PERSON, banking analyst at ORG.
Analysts said there is a certain amount of inertia in the banking market and many consumers already have CARDINAL account so they could easily take on a ORG account without necessarily closing their more conventional one.
Some also noted that NORP banks, with already large customer bases, were addressing different problems.
A lack of customers is not the problem for PERSON or ORG, said PERSON, banking analyst at BZW.
""These banks don't have the same need,"" PERSON said, ""The thing they want to achieve is to sell more of their products to their existing customers.""
Most NORP banks have moved heavily into ""bancassurance"" style operations in DATE, offering a wide range of lending, investment and insurance products.
Plain banks are also still seen as having an advantage in terms of the ""horses for courses"" argument. Analysts said many customers prefer a more traditional approach.
While telephone banking has grown quickly in popularity in DATE, for example, the vast majority of bank customers still prefer having a ""normal"" account although seemingly few visit their branch very regularly.",0
"Moving to capitalise on enormous growth in the use of laser printers, ORG on DATE will launch a new genre of printers it calls the ""mopier"" to steal work from the copy machine.
The new device, dubbed ORG, reduces the need to use copiers by allowing workers to make multiple original prints -- or ""mopies"" -- from their own desktop.
HP, which is already a market leader in printers, faxsimile machines and scanners, hopes the new model will help it capture a share of the MONEY a year copier market.
Analysts expect the printers will present a challenge to copy machine giant ORG and other copier makers, as sales revenues of mid-range CARDINAL pages per minute copiers is projected to drop by MONEY by DATE.
""Xerox is a dominant copier and printer vendor. This is a challenge and an opportunity for ORG,"" said PERSON, industry analyst at the market research firm ORG.
The market for midrange printers based on PERSON CARDINAL-page per minute engine, until recently a relatively small segment of the market, is projected to surge by PERCENT DATE from DATE, he said.
With a GPE list price of $MONEY, the machine is more expensive than other departmental laser printers, but it contains more features and it is priced less than midrange copiers costing MONEY.
Executives at ORG ORG in GPE, GPE, said the ORG is part of its recently-unveiled ORG strategy aimed at addressing work flow and document management problems at work.
""Our customer research found that people are already mopying DATE,"" CARDINAL of the executives said in an interview.
The new machine is based on ORG's existing ORG 5Si models, but adds finishing tasks -- such as stapling and collating of documents.
A user-friendly interface to help guide workers through the printing options and tells them when their job is completed.
The Mopier is designed to cut down on the time office workers spend running between printers and copy machines, waiting for others to copy, and fixing paper jams.
It contains a QUANTITY hard drive and reduces network traffic as well by storing each print task once and printing the number of copies specified, rather than requiring each print job to be sent down the network one at a time.
The initial Mopier model may pave the way for a whole family in the future, if it lives up to its expectations.
The introduction is timed to take advantage of a major shift towards network printing -- ORG reported the number of pages printed on printers in DATE for DATE exceeded those printed of photocopy machines.","An outspoken computer security expert, citing his just-completed study, says CARDINAL of certain Web sites, including reputable institutions like banks and the media, are vulnerable to hacker attacks.
PERSON -- who stirred controversy in DATE as co-author of software dubbed SATAN that enables people with basic skills to infiltrate computer systems -- surveyed CARDINAL Web sites.
The survey released DATE covered a relatively small portion of the sprawling Web but focused on sites where security is more of a concern.
GPE probed CARDINAL bank sites around the globe, CARDINAL NORP online newspaper sites, CARDINAL credit union sites, CARDINAL GPE federal government sites and CARDINAL Internet sex clubs.
In a summary, PERSON said that, out of his sample of CARDINAL Web sites he selected, ""over PERCENT could be broken into or destroyed."" As a control, he probed a random sample of CARDINAL sites.
Farmer said he used relatively crude, non-intrusive methods and did not actually break into the sites. He also said he would not publish the names of the sites he surveyed.
""I barely electronically breathed on these (computer) hosts,"" he said in his report, adding that, considering more intrusive tests, PERCENT of sites may have security flaws.
Other computer security experts found GPE's results credible and authoritative, PERSON, director of research, education and consulting at ORG, said in a telephone interview DATE.
Experts and computer industry executives said the study shed more light on a problem well known within the industry but insufficiently understood by the public at large.
The threat of hacker attacks was highlighted DATE when intruders broke into ORG Web sites and altered them, prompting the ORG to close its site temporarily.
Farmer stressed that Web sites are being used primarily for marketing and advertising purposes and that, although some bank sites may allow visitors to look up balances, the sites do not provide access to internal financial systems.
PERSON, president of ORG GPE operating unit in GPE, GPE, said banks routinely keep Web sites on separate computer systems.
""Our experience is the banks are so paranoid that they won't even allow the access that they should be able to allow and would be quite safe if you had a modern firewall"" protecting their networks from intruders, said ORG, whose company is the market leader in firewall technology.
""So, if their Web site is vulnerable, that doesn't mean that anything else at the bank is vulnerable, or that their customers' accounts or the transactions their customers are doing are vulnerable,"" she said.
Nevertheless, with the advent of electronic commerce over the Internet expected to gain momentum in DATE, lax security remains a critical issue, experts said.
Farmer separated security flaws into CARDINAL categories -- a red category where he said a site was ""essentially wide open to any potential attacker"" and a yellow category deemed less serious but with potential for disastrous consequences.
Of the CARDINAL bank sites, PERCENT were deemed vulnerable and PERCENT were in the red category.
PERCENT of credit unions were vulnerable, PERCENT of the federal sites, PERCENT of newpapers and PERCENT of sex clubs. Sites in the red category ranged from PERCENT for credit unions to PERCENT for federal sites and PERCENT for online newspapers.
Of the random sample of CARDINAL Web sites used as the control, a far smaller percentage -- PERCENT -- were found to be vulnerable, and PERCENT of the group was in the red category.
PERSON said part of the problem is that Web sites are trying to do too much at once, increasing their complexity and making security far more difficult to achieve.
But, even with security concerns, credit card transactions over the Net are much safer than those carried out in shopping malls, said the security association's PERSON.
PERSON also said he plans to incorporate some newer testing tools into a new version of SATAN, which stands for ORG, DATE.
The programme enables people who manage corporate networks to locate weaknesses and fix them. But it has been controversial because it can also easily be used by malevolent intruders trying to cause damage.
Triant said there have been no reported security breaches at any of the CARDINAL institutions with ORG network security installed and said such precautions should provide adequate protection.",1
"Investors, who DATE helped drive ORG to its ORDINAL record close DATE, are unlikely to cool on NORP stocks any time soon, attracted by GPE's improving economic fundamentals.
""GPE really has begun to address its deficit problems with rather Calvinistic virtue and I think this is going to help that market and also tend to focus other investors on the opportunities in GPE,"" said PERSON, chief investment strategist at ORGamp; ORG in GPE.
GPE's key CARDINAL Composite Index set its ORDINAL record high close DATE, the most in DATE since GPE's largest stock exchange began tracking such figures. The previous record was CARDINAL record closes in DATE.
The CARDINAL index has risen PERCENT DATE.
After the stock market crash of DATE, GPE posted no record closes from DATE through DATE.
But analysts said GPE's latest bull run will likely extend to DATE.
""I don't think the run in the NORP market is over by any means,"" said PERSON.
""There's such a rosy view out there on GPE,"" said ORG strategist PERSON.
""Inflation is low. The federal deficits are coming down, especially in relation to GDP (gross domestic product). Current account surpluses are happening. The political situation (GPE separatism) has faded away and that has buoyed the NORP dollar,"" PERSON said.
GPE's inflation rate is PERCENT, while the federal government has forecast its yearly borrowing requirements will drop to CARDINAL in CARDINAL from MONEY (MONEY) in CARDINAL.
Booming exports have pushed GPE's current account to a surplus due for the ORDINAL time since DATE.
Political uncertainty has also waned after DATE narrow loss by separatists in a referendum on independence for the LANGUAGE-speaking province of GPE.
On DATE, GPE's dollar reached the MONEY mark for the ORDINAL time in DATE.
""I think GPE's in a different situation"" than in DATE, PERSON said. ""We're on the early stages of what I would call a boomlet worldwide, which is going to result in I think strengthening industrial and commodity prices, which I think are going to be very bullish for GPE.""
""I'm still tremendously bullish on stocks,"" said PERSON, who does not rule out the index hitting CARDINAL points by DATE.
The CARDINAL index closed at CARDINAL on DATE, down CARDINAL points.","GPE's stock market ended lower on DATE, dragged down by Wall Street after GPE high technology stocks were hit by profit-taking.
ORG key CARDINAL Composite Index lost CARDINAL points to end at CARDINAL. Turnover was heavy at CARDINAL shares worth MONEY (MONEY).
The Dow Jones Industrial Average lost CARDINAL to close at CARDINAL as major high tech issues sold off, traders said.
NORP markets were looking for an excuse to reap profits after recent highs, said portfolio consultant PERSON.
Investors decided to sell after ORG decided to keep short-term interest rates unchanged as expected by analysts.
""In spite of the good news, people decided to take profits,"" PERSON said.
All but CARDINAL of GPE's CARDINAL sub-indices slipped into negative territory. ORG posted the biggest decline, followed by oils, golds and conglomerates. The ORG posted gains in pipelines, consumer products and real estate.
Declining issues outpaced advances CARDINAL to CARDINAL with CARDINAL stocks unchanged.
Among active stocks, ORG lost CARDINAL to close at CARDINAL on CARDINAL shares. PERSON is still seeking a white knight to oppose a hostile takeover bid from ORG
Canadian CARDINAL shares rose CARDINAL to close at CARDINAL in active trading.
ORG lost CARDINAL to finish at CARDINAL after hitting a new high of CARDINAL earlier in the session. ORG rose CARDINAL to CARDINAL on CARDINAL shares after reaching a DATE peak of CARDINAL.
ORG continued to lose ground after DATE's drop, falling CARDINAL to CARDINAL on CARDINAL shares.",1
"Bankers in GPE say they hope to sign a package restructuring the MONEY (MONEY) debt of channel tunnel operator PERSON well before DATE deadline runs out.
""Just as the previous deadline of DATE was a bit optimistic, the new CARDINAL errs on the side of caution,"" said CARDINAL banking source. ""It'll look good now if they bring it in ahead of time.""
DATE, ORG and its creditor banks agreed a DATE extension of a debt payment standstill until DATE. The debt standstill went into effect in DATE and was due to run for DATE.
Bankers said, despite the fact that the extended standstill would mean interest would continue to accrue, this would have no effect on the debt deal which will continue to be applied to ORG's debt position as of DATE.
""The interest and any other charges due since the cut-off date will become payable when the deal goes into effect,"" the banking source said.
DATE, following marathon negotiations, ORG and the steering committee of banks agreed a restructuring deal which will have to agreed by a total of CARDINAL creditor banks and the shareholders of the company.
The deal included a MONEY swap of debt for equity at 130p per share, a swap for interest-bearing equity notes, shareholder warrants, loan notes and resettable bonds.
An amount of MONEY would remain as junior debt, paying a fixed interest rate until DATE and then reverting to PERCENT above the GPE Interbank Offered Rate.
The company also has the right to issue ""stabilisation notes"" to cover any unpaid interest resulting from the deal. These would be interest-free until DATE and would then pay PERCENT over ORG.
Suspended at CARDINAL-1/2p ahead of the debt refinancing announcement DATE, ORG shares quickly fell to below DATE following and have remained relatively stable since then.
On DATE, they were quoted up CARDINAL-1/2p at CARDINAL.
The lower price means the 130p debt to equity swap price looks even better for shareholders but bankers say this is unlikely to cause a problem for the deal.
""They (the shareholders) are getting a better deal on that portion of the debt but the shares were probably overvalued and I can't see my colleagues ditching the deal because of that,"" the banking source said. ""The deal has to happen, both sides know that."" (MONEY)","ORG, formerly a pillar of the GPE money market scene, could be broken up to release shareholder value after the company said it would not pay a final dividend for DATE, analysts said on DATE.
They said a buyer might be found for ORG's profitable fees and commission businesses to break them away from the loss making trading division which has been hard-hit by changes in the money market.
""Union has lurched from crisis to crisis in DATE,"" said CARDINAL analyst who declined to be named.
""It could be that they have come to the conclusion that it's time to salvage what they can for shareholders.""
Formerly known as ORG and with famously palatial offices in GPE in GPE's financial heartland, ORG has had limited success in its struggle to diversify away from its traditional role as a discount house in the mysterious and highly cyclical and volatile workings of the money market.
Forays into medical equipment leasing and equities market-making, in the shape of ORG, ended in disposals and DATE have seen Union shrink to a shadow of its former self with a market value of MONEY.
DATE, ORG says ORG plan to remove the exclusive right of the CARDINAL discount houses to deal directly with the ORG in its liquidity operations will ""have a significant impact on the group's future.""
As a consequence, it said that ORG (ACT), which it had intended to carry forward on its books, would now have to be written off.
It gave no figures but said this would rule out the payment of a final dividend for DATE.
It also said that it would not receive any profit contribution in DATE from a venture to sell equity index options trading software in GPE.
Analysts said they had expected Union to hold DATE payout at MONEY per share, with MONEY coming in DATE.
Union has said that it wants to develop its fee earning businesses and move away from a dangerous dependence on trading.
The fee and commission businesses include the ORG futures and foreign exchange broking, liquidity fund manager ORG and ORG, which provides project finance advice and consultancy.
DATE the CARDINAL ""discount houses"", ORGamp; ORGamp; ORG, merged but with them, the money market side of the business takes a back seat compared to private-client stockbroking and fund management.
Union shares closed MONEY lower at CARDINAL, having collapsed to DATE at CARDINAL point.
Directors at Union were not immediately available for comment.",1
"The NORP coalition government on DATE looked to recover from the resignation of ORG Minister PERSON, a deputy premier who joined CARDINAL other politicians in admitting they used phoney academic titles.
A cabinet aide said on DATE that Prime Minister PERSON and key members of the tenous CARDINAL-party coalition government were waiting for PERSON's party to meet later on DATE before serious talks on his replacement can begin.
PERSON, leader of ORG (ODA) a junior coalition partner, resigned his cabinet and parliament seat on DATE, in a speech which caught everybody off guard.
He rose to tell the house that he ""wasn't happy to be the next episode of a soap opera, but the title Juris Doctor does not belong to me"". Then he quit.
PERSON joined CARDINAL more members of parliament who have admitted to using ""Doctor of Law"" falsely, as accusations spilled on to the floor of the chamber in a country where academic titles are more often used than ORDINAL names.
Leaders of ODA, a party with CARDINAL seats in the CARDINAL-member government, were to meet on DATE TIME to consider who to nominate in PERSON's place, a decision which rests with the party according to the agreement which set up the cabinet.
They are expected to discuss whether PERSON will remain as head of the strongly pro-business ORG, which he helped establish ahead of general elections in DATE.
A member of parliament from the coalition partner NORP, resigned for the same reason on DATE.
But CARDINAL members of ORG's senior ORG, and a member of the opposition NORP have said they will not step down after similar confessions.
Political analysts said that PERSON's confession was damaging, but ORG's tenous government -- which lost its parliamentary majority in DATE elections -- can survive in tact if the ODA can agree on who can lead the party in the cabinet.
However, CARDINAL factions within the ORG -- one associated with ORG Minister PERSON, and anothter with minister at large GPE -- are likely to fight for control of the party.
""If they (ODA) does not have a good candidate quickly, the government could do some reshuffling,"" PERSON, director of research at ORG, told ORG.
The danger to the government's stability would be if the coalition agreement, pounded out after DATE of tense negotiations following the DATE elections, is reopened.
Klaus told journalists that PERSON's resignation was ""a political swerve, it's disquieting and unsettling"" but that the government would aim to take it in stride.
The foreign exchange market, wary of any instability within the tenous centre-right cabinet reacted sharply and the crown was volatile throughout TIME trading.
The usually stable currency fell CARDINAL basis points against ORG mark/dollar basket before recovering when the central bank fixed the crown at PERCENT above parity with the basket, down from PERCENT on DATE.
By DATE it had recovered to +2.50 above the basket.
PERSON, chief economist at the largest ORG PERSON, said he did not think PERSON's resignation would damage the government.
""The stability of the government does not depend on Mr. PERSON. What happened has nothing to do with the ministry itself, it's a personal thing for Mr. PERSON,"" PERSON said.
Pehe said that more phoney-title confessions might still add to the growing drama in parliament.
""In this society it plays such a role -- whether or not you have (an advanced) degree -- I suspect that there may be a few more deputies or government officials in some positions who are claiming to have degrees which they in fact do not,"" he said.","In DATE, DATE Madlenka PERSON sat glued to a radio in GPE, listening with her exiled NORP diplomat father to news of the GPE army's liberation of the western part of her native land.
They cheered when General PERSON army forced NORP soldiers out of the brewery town of ORG.
They cursed when PERSON was forced to hold back his troops and let ORG take GPE according to the deal struck with GPE at Yalta months before.
""I remember the broadcasts as the NORP were pushed back across GPE, and I remember my parents cheering and wishing they had gone further,"" Madlenka, now known as PERSON, told CARDINAL of NORP and NORP veterans in GPE DATE.
Weaned in GPE bomb shelters and reared on EVENT, PERSON has been nominated GPE secretary of state -- the first woman to fill the post.
PERSON, who returned to GPE after the NORP occupation only to leave again after a NORP coup, was chosen by President PERSON on DATE to be the highest-ranking woman ever in the GPE government.
Friends and diplomats who know her say PERSON's life has consistently shown the influences of her father and her post-war childhood.
Her father, PERSON, a close aide to NORP Foreign Minister PERSON in EVENT government-in-exile in GPE, served as post-war ambassador to GPE and later a delegate to ORG.
During that period, family photos show his young daughter PERSON -- Madlenka in the NORP dimunitive -- dressed in frilly traditional NORP costume to greet visiting dignitaries.
After the post-war government was deposed by communists in DATE, ORG sent a cable from GPE saying he was leaving with his family on vacation.
Korbel received asylum with his family of CARDINAL in GPE, and settled in GPE. Madlenka started a new life at DATE.
Her father became a professor of NORP history and politics and eventually a dean at ORG, and earned worldwide respect as an expert on DATE LOC. He died in DATE, aged DATE.
PERSON attended a GPE high school and then ORG in GPE. She earned a doctorate in political studies at ORG.
PERSON, who married and was later divorced from newspaper heir PERSON, made the NORP takeover of her homeland a frequent focus of lectures and papers.
She became a tough-talking diplomat and liked to speak of the effects of LOC's appeasement of PERSON in the DATE GPE agreement which led to GPE's occupation of GPE.
After the collapse of communism in GPE in DATE, playwright-turned-president PERSON asked her to advise his new democratic government.
On her ORDINAL official visit to GPE as GPE ambassador to the ORG in DATE, she walked into the palacial ORG and said: ""I came here in DATE when I was DATE. This is an emotional and sentimental moment for me.""
She has acted as PERSON and PERSON tour guide in her home town -- once joining ORG to hear the GPE president play the saxophone in a jazz concert in a GPE club during a DATE state visit.
GPE sees her as a strong advocate of NORP membership in ORG and the alliance's expansion to former NORP satellites.
Havel, speaking recently on the prospects of PERSON becoming Secretary of ORG, said: ""She is, thanks to her origins, more sensitive to the issues which concern us.""",1
"The chief executive of ORG, a major NORP retailer, aims to boost sales per square  foot by CARDINAL over DATE as the discount chain seeks to regain market  leadership from GPE invader ORG.
PERSON, a former executive at ORG - which ousted PERSON as GPE's top discount store chain --  told ORG in a recent interview he planned to increasesales from  C$MONEY ($MONEY) QUANTITY for DATE.
""We are CARDINAL below where we should be. We should be (C$)CARDINAL ($MONEY) to (C$)CARDINAL ($MONEY) a square foot and my goal is (that) over DATE,"" said PERSON, who took the top job at PERSON DATE.
Zellers is a unit of GPE-based ORG,  the owner of GPE's biggest department store chain.
Wood Gundy retail analyst PERSON called PERSON's goal ambitious.
""ORG has the momentum. These guys (PERSON) don't,"" said PERSON, who estimated that ORG had sales of C$MONEY ($MONEY) a square foot in GPE, a number PERSON called ""overstated.""
Brodie estimated PERSON' market share had fallen to PERCENT since ORG arrival in DATE from PERCENT. ORG NORP market share was estimated at PERCENT.
Barron landed the chief executive's job at PERSON at a crucial time. The commpany's operating profit was halved by the arrival in GPE of GPE, Ark.-bbased ORG, GPE's bigg DATE
Zellers' DATE operating profit plunged to MONEY) ffrom MONEY (MONEY) in DATE.
ORG said his mission was to improve technology and communications, move more staff to the sales floor, pay more attention to rural stores and renovate the chain's CARDINAL outlets.
He did not forecast DATE sales, but said PERSON would post DATE revenues of MONEY (MONEY), versus MONEY (MONEY) in DATE.
He said that crucial holiday sales in DATE jumped by double digits for the ORDINAL time in DATE.
ORG said that PERSON' capital spending would increase to CARDINAL of DATE sales. Retailers usually spend PERCENT.
PERCENT of planned capital spending would be for technological upgrading, with ORG was DATE behind other retailers in technology.
""By DATE, we will be as technologically proficient and productive as any retailer in LOC,"" PERSON said.
Zellers said GPE would open CARDINAL CARDINAL stores DATE, expand CARDINAL and update up to CARDINAL.","Competitive pressures in the GPE cereal market are expected to put a crunch on earnings for CARDINAL companies -- CARDINAL the branded leader and the other the largest maker of private-label cereals.
Analysts said PERSON, the largest GPE cereal maker, is expected to report flat DATE earnings, although it may be able to eke out a rise of MONEY or CARDINAL.
ORG, which makes private-label -- or store brand -- cereal, is expected to report lower earnings for DATE, analysts added.
In both cases, earnings are pressured by price cuts and promotions in the intensely competitive GPE cereal market.
Kellogg has seen its market share decline recently in the face of heavy promotions by its rival, ORG . General Mills DATE reported an increase in DATE earnings to $MONEY a share from $MONEY.
""(ORG) domestic earnings are clearly going to be down on lower sales and some increase in marketing spending,"" said ORG analyst PERSON.
She added ORG's market share appeared to have risen somewhat in DATE as it increased promotions.
Among the other food companies reporting DATE earnings, poor pork and beef margins are expected to hurt DATE earnings for meat processor ORG
""ORG will have down earnings, how far down we don't know,"" ORG analyst PERSON said.
ORG is expected to report an operating profit for DATE compared with DATE operating loss. ORG, however, is expected to take a charge in DATE to reduce the carrying value of its PRODUCT beverage business.
""The issue for ORG is how big of a charge they take for Snapple,"" said ORG analyst PERSON.
ORG said in a recent ORG filing that it was reviewing Snapple for a possible charge to reduce the carrying value. A ORG spokesman declined to comment on the possibility of a charge in DATE.
PERSON is expected to report a double-digit earnings increase for DATE, with the biggest improvement in its meat and bakery division, said ORG and NORP analyst PERSON.
Analysts said ORG is expected to report a smaller than typical rise in its DATE earnings, due to the previously reported impact of high corn costs.
Company     Qtr     First Call Mean EPS Estimate   ORG
CPC Int'l   Q4		   $MONEY			$MONEY
ORG     CARDINAL		   $MONEY			$MONEY
Kellogg     Q4		   $MONEY			$MONEY
ORG Q4	  profit $MONEY		loss  $MONEY
ORG     CARDINAL		   $MONEY*		     $MONEY
PERSON    CARDINAL		   $MONEY			$MONEY
*ORG estimate based on analysts contacted by ORG, not First Call
((ORG Chicago Newsdesk (CARDINAL) DATE))",0
"GPE's Foreign Minister PERSON announced on DATE an agreement with GPE to expand their security dialogue, saying recent frictions had failed to spoil growing ties between the CARDINAL LOC powers.
Disagreement over GPE, a coming meeting with the Dalai Lama and NORP concerns over a GPE-GPE security pact had not spoiled the atmosphere during meetings with his NORP counterparts, PERSON told a news conference in GPE.
""I have been able to develop a security dialogue between GPE and GPE,"" he said. ""What I would like to see happen is us holding, on an DATE basis, senior officials' talks about regional security issues.""
Downer said an NORP proposal for broadening existing DATE bilateral disarmament talks into such a dialogue had been accepted by NORP Foreign Minister PERSON, but he gave no details of how they were likely to be organised.
""It's symbolically important because it reaffirms ... that the NORP government does not support a policy of containment of GPE,"" he said.
PERSON's coming meeting with the Dalai Lama, GPE's arch-rival for the loyalties of the NORP people, had not been a sticking point in talks with Premier PERSON, he said.
GPE regards the Dalai Lama as an anti-China ""splittist"", and condemns all attempts by GPE's supreme spiritual leader to gather international support for autonomy in the restive NORP region.
Downer said he would meet the Dalai Lama when he arrived in GPE DATE, but said the NORP premier had made no direct mention of the visit.
A defence pact in DATE between GPE and GPE that raised hackles in GPE had not been brought up as a NORP concern, while a proposal to supply uranium to GPE's rival GPE was far from becoming a reality that could disrupt growing ties, he said.
NORP officials said PERSON had fulfilled a pledge made DATE in GPE to raise the case of jailed NORP-born NORP businessman PERSON during his GPE trip.
PERSON, DATE, was sentenced to DATE in a NORP prison DATE after being convicted of embezzling MONEY (US$MONEY) in the southern city GPE. He has insisted he was framed by powerful commercial rivals.
PERSON had requested that GPE deport PERSON before the end of his scheduled term, but had been told the prisoner's sentence was a matter for the judiciary to decide, officials said.","A huge ethylene venture linking a NORP Petroleum subsidiary and ORG would give ORG a major presence in GPE's downstream petrochemicals, company officials said on DATE.
ORG signed a letter of intent with ORG on DATE to set up a MONEY plant in GPE capable of producing QUANTITY of ethylene a year.
""It's a big step forward for our development in GPE,"" said PERSON, ORG's GPE manager of government affairs.
He said ORG's biggest GPE project so far also marked a change of focus for the company, which has until recently concentrated most of its NORP investment in upstream activities such as drilling and exploration.
Analysts have predicted huge growth in GPE's downstream petrochemicals industry, as booming economic growth sends demand for products such as ethylene soaring.
""At the moment I would think petrochemicals is getting quite exciting,"" Zhang said in a telephone interview.
Officials of ORG, which is majority-owned by ORG, or PERSON, said the huge project demonstrated the company's confidence in its own future and in GPE's economic development.
It was too early to say how long a feasibility study for the project would take, but for a project of such a scale preliminary research could reasonably last DATE, said ORG deputy director PERSON.
Completion of such projects could take DATE, PERSON told a news briefing in GPE, adding it was too early to decide the details of how the venture would operate or of the investment required.
ORG will own PERCENT stake in the ethylene plant with PERCENT either held by ORG or shared with its parent PERSON, officials said.
The venture is CARDINAL of CARDINAL ethylene projects with DATE capacity of QUANTITY or more promoted by state planners, the official ORG said.
Sinopec president PERSON said DATE the state oil refiner planned to more than double ethylene production capacity to QUANTITY a year by DATE from the current DATE QUANTITY.
ORG officials said they hoped to establish a joint venture company with ORG to produce acrylonitrile, used to make synthetic fibres.
The joint venture could then be expanded if all went well with technical studies for the ethylene plant, they said.
""If the market is there we will go ahead very quickly on this one,"" ORG's Zhang said. He declined to say when the NORP firm hoped to begin production.
While the letter of intent showed a major commitment to working with ORG, even if the ethylene project developed it did not mean ORG would slow cooperation with other foreign firms, said board of directors secretary PERSON.
""It's not like love with a marriage of CARDINAL husband and CARDINAL wife,"" he said. ""I think ORG will not stop looking for other partners.""",1
"ORG, CARDINAL of the great NORP merchant banks, on DATE delivered record DATE profits along with a warning that conditions for its businesses may become more uncertain.
""Although DATE has started reasonably well, it will not be easy to match CARDINAL successive record DATE,"" the the bank said while posting a DATE pretax profit of MONEY (MONEY) compared to CARDINAL in DATE.
""With elections imminent in the GPE and GPE and with equity markets in those countries testing all-time highs, conditions for our businesses may become more uncertain,"" ORG added, sending its shares spinning lower.
Schroders, which lifted its DATE dividend PERCENT to MONEY -- the top-end of forecasts -- said the environment for the financial sector had been benign, with financial markets, banking and leasing the major contributors to profits.
Analysts expected the merchant bank, whose shares have seen some hot money thrown at them as bid speculation refuses to die down, to report pretax profits of CARDINAL.
But although DATE results were in line with forecasts, ORG' shares dived MONEY lower to MONEY as the market took stock of the company's cautious outlook.
""Talk about uncertain business conditions is not what investors wants to hear,"" noted CARDINAL GPE market-maker.
Some analysts warned that they may scale back profit forecasts despite a healthy growth in profits at ORG' investment banking arm.
The division saw profits rise to MONEY from CARDINAL and ORG said it had gained a number of prominent new clients. Earnings from its securities businesses in LOC and LOC grew ""satisfactorily"", but activity in LOC/Pacific operations was more subdued, it stated.
The merchant bank's asset management division was boosted by a strong inflow of new businesses and total funds under management rose PERCENT to MONEY.
ORG said it had built up an ""outstanding performance record"" in emerging markets, adding that a significant proportion of new business inflow related to new appointments to manage funds in emerging markets.
Pretax profit at the division jumped to MONEY from CARDINAL in DATE, partly reflecting a delay as profits from new funds feed through.
Some analysts say ORG' controlling family holding may hinder a takeover. But others believe that the bank may not be able to hang onto its independence for DATE as the desire for fresh capital for its investment banking arm becomes overwhelming.
This could either lead to a full-scale merger or as a tie-up such as the one brokered between merchant bank PERSON and PERSON, analysts say. ($MONEY Pound)","This DATE's ORG, the world's most influential computer trade show, will be the showcase for some unusual computers, including machines the size of paperback books.
A host of companies will introduce ORDINAL-generation handheld computers, about the size of paperbacks, which can do much of the work their desktop counterparts handle.
The trade show, expected to draw CARDINAL people to GPE DATE, also will feature the digital video disc, or DVD, an advanced compact disc for playing movies and storing computer information.
In addition ORG, ORG and other industry giants are expected to take their DATE battle over rival approaches to simplifying personal computers to the trade show floor.
Moreso than in DATE, this DATE's show will highlight how the PC, the centre of a MONEY global industry, is moving into new venues such as the living room entertainment cabinet, shirt pockets and the backs of airline seats, industry executives said.
""As more and more of the population gains experience with PCs, the types of products consumers select will diversify, and the major players have to accommodate them,"" said PERSON, marketing manager at computer maker ORG
ORG will kick off ORG on TIME with the introduction of Windows CE, a computer programme that will run on handheld computers. Several companies, including ORG, ORG and ORG will unveil devices using the software.
The handheld PCs represent the industry's ORDINAL big push in DATE to sell tiny computers for managing appointments and contacts and keeping in touch with the office.
Analysts said the new more powerful machines will let users do things earlier models were not good at, such as writing lengthy e-mail and tapping the Internet. ORG has made strides in making it easier for the handhelds to share information with desktops, analysts said.
ORG also will unveil ORG CARDINAL, a major revision of its top-selling package of business programmes. The product will be one of the biggest revenue generators for the world's biggest PC software company, analysts said.
Consumer electronics companies will crash ORG DATE to formally introduce DVD. The technology is based on compact discs similar to music CDs, but with many times the storage capacity.
DATE, ORG, ORG, ORG and several other companies will sell DVDs that can play movies and music.
At ORG, the computer arms of the consumer electronics companies will unveil DVD storage devices that plug into PCs. The so-called DVD-ROM players are expected to spur development of video games that use sophisticated CARDINAL-D animation.
By DATE, high-end consumer PCs will be equipped with DVD-ROM players, said PERSON, senior vice president at ORG ORG division. Several game software companies will have DVD-based products ready to show at ORG.
By DATE, some DVD-equipped laptops may even be able to play full-length, full-screen movies, analysts said.
Comdex may also become an arena DATE for competing versions of so-called network computers -- bare bones PCs that get most of their computing power from corporate or public computer networks.
ORG will introduce several network computers, geared toward corporate customers who need simple terminals for data entry and customer service tasks.
Meanwhile, ORG Chairman PERSON and ORG Chief Executive PERSON may give some details in keynote speeches about their companies' plans to redesign the guts of the PC to make them easier to maintain and upgrade.
Both ORG had pooh-poohed the concept of the network computer, but decided to take a ORDINAL look when it became clear consumers were intrigued by the possibility of no-brainer PCs.",0
"ORG operator PERSON on DATE announced a deal giving creditor banks PERCENT of the company in return for wiping out MONEY (MONEY) of its debt mountain.
The long-awaited restructuring brings to DATE of wrangling between PERSON and the CARDINAL banks to which it owes MONEY.
The deal, announced simultaneously in GPE and GPE, brings the company back from the brink of insolvency but leaves shareholders owning PERCENT of the company.
""The restructuring plan provides ORG with the medium term financial stability to allow it to consolidate its substantial commercial achievements to date and to develop its operations,"" Eurotunnel co-chairman PERSON said.
The firm was now making a profit before interest, he added.
Although shareholders will see their interests diluted, they were offered the prospect of a brighter future after DATE of uncertainty while ORG wrestled to reduce crippling interest payments negotiated during the tunnel's construction.
Eurotunnel, which has taken CARDINAL the cross-Channel market from the NORP ferry companies, said a strong operating performance could allow it to pay its ORDINAL dividend within DATE.
NORP co-chairman PERSON said shareholders would have to be patient before they could reap the benefits of the company's success.
He called the debt restructuring plan ""an acceptable compromise"" for holders of ORG shares.
The company said in a statement there was still considerable work to be done to finalise and agree the details of the plan before it can be submitted to shareholders and the full CARDINAL bank syndicate for approval, probably early in DATE.
DATE's announcement followed DATE of highly secretive negotiations between ORG and its CARDINAL leading banks. This was extended to the CARDINAL ""instructing banks"" at a meeting DATE in GPE.
Eurotunnel said the debt-for-equity swap would be at MONEY, or MONEY, per share. That is considerably below the level of MONEY widely reported in the run up to the deal, and will reduce outstanding debt of MONEY by CARDINAL.
The company said a further MONEY of debt would be converted into new financial instruments and existing shareholders would be able to participate in this issue.
If they choose not to take up free warrants entitling them to subscribe to this, ORG said shareholders' interests may be reduced further to PERCENT of the company by DATE.
PERSON's shares, which were suspended DATE at MONEY ahead of DATE's announcement, should resume trading on DATE, the company said. ($MONEY Pound)","ORG is linking up with CARDINAL major GPE carriers, ORG and ORG, in a transatlantic alliance crucial to its ability to keep up with its major NORP rivals.
The NORP state airline said on DATE it had signed separate letters of intent for cooperation with ORG and ORG after a lengthy search for a GPE partner.
The long-awaited agreements mark a strategic step in ORG development and tap the huge GPE travel market to feed its global network while the GPE companies will carry the NORP airline's passengers on their domestic routes.
""These agreements crystallise the company's wish to forge a network of global alliances,"" ORG said in a statement.
The alliances allow so-called code-sharing arrangements between ORG and the GPE companies, which is a low-cost way of gaining more customers without direct investment.
It means passengers can be issued with a through-ticket by CARDINAL carrier to be used on its partner airline -- making it possible for airlines to feed passengers to each other without setting up their own routes.
The companies will also harmonise their flight schedules, share a common frequent flyer programme, and provide ground facilities.
ORG operates from its hub at GPE, GPE, while ORG works from GPE, GPE and ORG uses ORG airport.
ORG gave no financial details of the link-ups but a spokeswoman said they were expected to bring the loss-making airline savings of MONEY a year.
The airline racked up a net loss of MONEY DATE after heavy provisions for restructuring, but has said it hopes to be in profit DATE.
ORG chairman PERSON has for DATE been looking for a heavyweight partner to give the airline a global reach and counter the spread of alliances between its rivals.
ORG has previously said it was talking to ORG and ORG, as well as ORG of ORG, ORG of ORG and ORG.
NORP airline ORG started code-sharing flights with ORG in DATE, paving the way for several other high-profile cooperation deals.
ORG DATE agreed a controversial alliance with ORG but regulatory approval has been held up by a row between the NORP and GPE governments over an ""open skies"" agreement.
The planned NORP-American alliance has been attacked by rivals as anti-competitive.
NORP newspapers have said GPE is squaring up for another struggle with GPE over a bilateral ""open skies"" pact and would use any alliance by ORG as a lever to push the NORP to further open up the domestic market.
ORG cautioned the through-ticketing accords with ORG and ORG were subject to government approvals.
GPE and GPE clashed DATE when GPE wanted to open bilateral talks on market access and held up GPE approval of ORG DATE schedule until the NORP agreed to start negotiations.
ORG and ORG signed a commercial accord back in DATE but it has never been implemented due to changes in top management at both companies. ORG, among the GPE majors, does not have a NORP partner.",0
"ORG DATE said sales rose a scant PERCENT in DATE, a dramatic slowdown for the nation's ORDINAL-largest automaker and a sign of what analysts said would be DATE for GPE's Big Three.
DATE sales of CARDINAL, up from CARDINAL in DATE, set a record for DATE, and ORG's DATE sales of CARDINAL surpassed its previous DATE record of CARDINAL set in DATE. But the PERCENT increase was CARDINAL of the smallest for ORG so far DATE.
ORG said car sales fell PERCENT based on DATE selling rates DATE while sales of pickup trucks, sport/utility vehicles and minivans rose PERCENT.
ORG credited a strong performance from its ORG and ORG divisions. ORG sales were CARDINAL and ORG sales reached CARDINAL, both records for DATE.
""Our new DATE lineup continues to generate healthy traffic at our dealerships,"" PERSON, executive vice president of sales and marketing, said in a statement.
But ORG analyst PERSON said sales to fleet dealers such as car rental agencies fell in DATE, contributing to the weak performance.
Both ORG and ORG are expected to post lower car sales for DATE, leading to weak overall sales for the No. CARDINAL and No. CARDINAL automakers.
That is expected to drag down the industry's sales by PERCENT, according to PERSON, president of ORG.
""The car market from what I'm hearing is going to be lousy for just about everybody,"" he said.
ORG said DATE sales based on DATE's expected performance and government seasonal data would be CARDINAL to CARDINAL units. The rate for DATE was CARDINAL, and the rate for DATE was CARDINAL.
But the actual DATE sales rate could be CARDINAL units below that, he said, because of fluctuations in government data used to compute the rate.
Analysts noted that slower sales were expected for DATE, but GPE said it was too early to declare a recession for car sales because DATE sales rates can be volatile.
ORG, set to report sales on DATE, is seen posting a PERCENT drop in overall sales, with car sales down PERCENT and light truck sales unchanged.
Car sales were hurt by the DATE NORP autoworkers' strike in DATE, which caused a production loss of CARDINAL ORG cars. Contributing to the weak numbers were customers who chose to wait for ORG's CARDINAL new models instead of buying older versions.
""Certainly for quite awhile their car sales are going to be hurt by these painfully slow transitions to the new models,"" said ORG, noting it could be DATE before ORG has full availability of its new cars.
GPE estimated ORG sales will slide PERCENT. Sales of pickups, minivans and sport/utilities are expected to rise PERCENT, with car sales off PERCENT, he said. ORG is scheduled to announce its sales on DATE.
ORG reported a PERCENT jump in sales to CARDINAL from DATE. DATE sales from ORG, a unit of ORG, were CARDINAL, also up PERCENT from DATE.
ORG said GPE sales fell PERCENT to CARDINAL for DATE.","Nearly one quarter of ORG workers around the world will be paid a combined hourly and benefit rate of MONEY an hour by 2000, the company's top executive said DATE.
ITT Automotive, a unit of ORGpaid PERCENT of its CARDINAL workers MONEY an hour in DATE, and PERCENT that amount in DATE, said PERSON, president and chief executive officer of ORG.
The numbers, provided by ORG at ORG, were offered as another illustration of how auto suppliers need to continue slashing costs if they expect to remain an independent player in the fast-changing industry.
""Do we do that because we're mean?"" ORG said of the falling rates. ""No. We did that because we have to promise our customers a PERCENT price reduction.""
ORG spoke as part of a panel discussion with PERSON, president ORG ORG, and PERSON, chairman, president and chief executive officer of ORG GPE automotive unit.
Asked how much a supplier should expect to pay workers, ORG said the global TIME rate for labor-intensive assemblies such as wiring harnesses is MONEY. More technical products are made for MONEY an hour.
""If you are regionally competitive but not globally competitive, you will unlikely be a supplier to ORG,"" he said.
PERSON had CARDINAL areas of advice for suppliers: focus on a few product areas; continuously stress quality; and pursue international alliances with other suppliers to expand more efficiently.
""I just don't think you can be all thing to all people. It's a lesson we learned at ORG the hard way,"" PERSON said.
Oswald said suppliers need to be more than good product innovators. ""At PERSON, we believe that our performance as a supplier is not based just on innovation, but also that weare meticulous in bringing that innovation to production,"" he said.
Meantime, ORG said in DATE suppliers to ORG can expect to receive PERCENT of what they are paid now for their products.
He noted the supplier industry is under such pressure to reduce costs that firms need PERCENT PERCENT productivity growth in order to keep their present level of employees.",1
"Stock market gyrations on the rumoured ill-health of GPE's paramount leader PERSON were welcomed by many NORP fund managers on DATE.
Although many NORP markets have regained much of the ground lost on DATE when the rumours hit, the remaining discount suggests any announcement of PERSON's death will now have limited effect, they said.
""This place is rife with rumour,"" said PERSON, managing director at ORG ""By the time an announcement comes, it will have been discounted.""
Some immediate reaction is inevitable, and it may not be restricted to NORP markets, said PERSON, sales director at ORG.
But that response will not last, particularly in GPE.
""There will be some short-term selling that will reflect the sentiment of the occasion, but ultimately an ideal buying opportunity will have been presented,"" he said.
Tina So, associate director at ORG, said GPE is still trading at a sizable discount to other NORP markets at CARDINAL-times DATE earnings.
""When you invest in an equity market you are looking for participation in overall economic growth and profitability, and the undertone of the economy is very positive,"" she said.
Generally, fund managers said GPE could correct to CARDINAL but stage a fast recovery within TIME. The ORG index closed CARDINAL points higher at DATE on DATE after plunging to CARDINAL when the rumours hit on DATE.
In GPE, GPE and GPE, the picture is a little different, partly because these markets have performed so strongly in DATE, but also because of their direct sensitivity to political factors in GPE, funds said.
After reaching a DATE high of CARDINAL on DATE, the GPE market dropped sharply when the DATE rumours and comments by central bankers prompted a bout of profit-taking.
While local investors expect to see further strength, foreign investors restricted to owning a minority share of the market warned a PERSON announcement could signal more weakness.
""GPE have been coming up quite nicely, it's a bit overbought, and GPE is traditionally very suspicious of political changes in GPE,"" said So.
PERSON's Day said shares on the GPE and GPE exchanges are also likely to take a tumble.
""It's a more direct concern, and an excuse to take profits,"" he said. ""They've both got good excuses because they've gone up so sharply.""
But the rest of LOC will continue marching to its own drumbeat, often ignoring major news and international market action in favour of domestic news and sentiment, funds said.
Compared to much of LOC, GPE has done an excellent job of managing the political risk associated with the succession issue, said PERSON, regional strategist at ORG in GPE.
While GPE, along with many other nations, has no formal mechanism in place for succession, president PERSON prominent and clear leadership position has mitigated much of the uncertainty associated with PERSON's death, he said.
""The political power has already been transferred. It happened a long time ago. So it's not really going to affect the way we invest our funds -- other than perhaps providing a very short-term buying opportunity,"" ORG said.
While some fund managers suggested the rumours were placed by market players keen to create buying opportunities, others said the timing of an announcement now made sense.
""It's come at a significantly better time than maybe DATE, and possibly even DATE when they were lobbing bombs across LOC,"" CARDINAL fund manager said.
PERSON was last seen in public DATE.
-- GPE (CARDINAL) 2843 6470","GPE fund managers and life insurers are smacking their lips in anticipation of a very promising pie -- GPE public pension plan.
Although much uncertainty still hangs over the proposed Mandatory Provident Fund (MPF), GPE-registered pension assets could triple if MPF regulations are passed by DATE, the date GPE reassumes sovereignty over the NORP colony.
""By any measure, this is a very substantial market,"" said PERSON, chief executive at ORG.
Life insurer National Mutual Asia, PERCENT owned by GPE's ORG, is just CARDINAL insurance company with its eyes on a market traditionally dominated by a handful of large GPE-based fund managers.
""If a particular company were to get PERCENT market share, it would involve the receipt of contributions of MONEY (MONEY) per annum,"" said Smith.
""To put that in perspective, ORG's current premium and contribution revenue is MONEY (MONEY).""
GPE pension assets are now valued at MONEY (MONEY), nearly all held in government and corporate funds such as those belonging to ORG, ORG, ORG, ORG and ORG PERSON.
If MPF regulations are approved, those assets will reach MONEY (MONEY) within DATE with DATE contributions projected at HK$30 billion (MONEY), independent adviser PERSON said.
Until now, GPE Big Three fund managers -- ORG, ORG and ORG -- have dominated the pension scene.
ORG has MONEY under management while ORG, a unit of NORP investment bank ORG, manages MONEY. PERSON manages MONEY.
Smaller participants who hope to play a bigger role include ORG with MONEY, ORG, a unit of ORG  at MONEY, and ORG and PERSON with MONEY each.
But insurance companies such as ORG and GPE insurance market leader, ORG, are in a strong position to challenge these fund managers.
PERCENT of GPE companies employ CARDINAL people, which will give the insurers' extensive sales and distribution networks the sort of advantage that could quickly build into a stranglehold on the new market.
""Most employers will see MPF as a real pain in the neck. It's a hassle where formerly they didn't have hassle,"" said PERSON, investment consultant with PERSON.
""What they will want to do is buy an off-the-shelf product rather than put something together themselves. The advantage will lie with the provider who can get on the street and sell.""
The market will also be snapped up in DATE, he said, which explains why these companies are working hard to become the ORDINAL out of the starting gate.
""Once this initial tranche of business is snapped up, turnover and new business will be low,"" Budden said. ""So you'll have an edge if you can get out quickly and market it.""
GPE fund managers are sufficiently disconcerted that CARDINAL of them -- PERSON, ORG, ORG and ORG -- are reported to be considering pooling administrative resources.
However, all this preparation could amount to a waste of time if ORG fails to enact subsidiary MPF legislation and regulations quickly.
Framework legislation has passed and the MPF office said it hopes to table the legislation by DATE. But some councillors are opposed to the principle of a public pension plan and have vowed to slow down the process.
Also, a number of regulations have roused debate, including a provision requiring the pensions to hold PERCENT of assets in GPE-dollar denominated instruments.
If this provision holds, it will light a fire under GPE dormant debt market, which suffers from a government surplus and a negative real rate environment thanks to the GPE dollar-GPE currency link.
(HK$1=US$7.8)
-- GPE (CARDINAL) 2843 6470",1
"ORG MONEY bid for NORP regional electricity company (ORG has highlighted possible renewed interest in the CARDINAL other remaining independent PERSON, analysts said on DATE.
""There are clearly operational reasons which make the bid attractive to ORG, so there may be other bidders. And other PERSON must also be under the spotlight,"" said CARDINAL sector analyst who asked not to be identified.
The GPE group said it wanted LOC's expertise in supply to complement its own generation capabilities as the international market in electricity opens up to privatisation.
But ORG rejected the bid, the ORDINAL unwanted advance it has faced in DATE. However, its chairman, PERSON, has indicated that it might consider a higher price.
On DATE he said talks with ORG, which is PERCENT owned by GPE-based ORG, culminated on DATE with a proposal that bid negotiations be pitched at MONEY per share, compared with the MONEY which was then offered.
This was promptly denied by ORG, which insisted that it had at no time suggested such a price.
Even that level is some way off the giddy heights paid for many of the CARDINAL cash-rich PERSON already sold to predators, CARDINAL of them to GPE companies. Those sales peaked with ORG QUANTITY per share bid for PERSON in DATE.
But analysts said ORG, which used a QUANTITY (MONEY) package of benefits to shareholders to beat a hostile bid DATE from shipping and construction firm PERSON, now owned by GPE's PERSON, has little left in its cupboard.
""They (CE Electric) are not going for its cash pile, because it hasn't got one. The logic must be for operational reasons,"" the sector analyst said.
Northern's attractions in this context could be that its price would be cheaper than other GPE because it lacks cash.
Reports have suggested other possible interested GPE buyers of ORG might be ORG, ORG, ORG and Light or ORG and ORG.
But if other GPE firms decline to get involved in a tussle with ORG, they might look at other PERSON and be keen to buy before the next NORP election, due by DATE, which could give power to the opposition ORG. Labour has slammed previous takeovers.
""These GPE companies need the expertise, they need the supply experience and they are looking to move into the international market ahead of further privatisation,"" the sector analyst said.
However, CARDINAL analyst questioned the strategy and asked why GPE companies did not just hire employees with the required knowledge.
""It doesn't make sense to me to buy these companies at these prices,"" he said. ORG shares eased on DATE to MONEY, down MONEY by CARDINAL ORG, as the market held its breath to see if a higher offer would emerge.
Without a rival bidder, analysts said there was little to prompt ORG, in which U.S.-based construction, mining and telecoms group PERSON has a PERCENT stake, to raise its offer, apart from the prospect of an agreed rather than a hostile bid.
That might be possible CARDINAL way between ORG current offer and ORG's price ideas, they added.
But CARDINAL analyst noted that ORG had already snapped up PERCENT of the company at the offer price, indicating that some investors were happy to sell at this level.
Northern, which has said it will bring forward its DATE results, will have DATE to submit an initial bid defence after ORG posts its offer document.
Under NORP takeover rules, DATE a company may announce defence measures is DATE after posting the bid document. A bidder has DATE after posting its offer in which to raise the terms, unless a rival bidder emerges. ($MONEY Pound)","NORP bank PERSON on DATE sold its global custody business to GPE investment bank ORG for an undisclosed sum thought to be below 50 million pounds.
The purchase by ORG marks another step in the consolidation of custody business which is increasingly being seen as a banking activity where ""big is beautiful"".
The custody business includes traditional safekeeping of securities, increasingly electronically, performance measurement and stock lending.
""Barclays believes global custody has become very much a scale business requiring substantial investment in technology,"" said Chief executive PERSON.
A spokeswoman for ORG said the investment in technology would be considerable and continuing and that PERSON had decided this would not be an effective investment.
Sir PERSON, chairman of ORG, said, ""This transaction enables us to offer a broader range of products to our clients. It will strengthen ORG global franchise, particularly in LOC, and will increase our fee-based revenues.""
ORG said the combined custody assets of the CARDINAL business would amount to MONEY, taking it up the global custody ladder which is dominated by large NORP players.
The list is headed by ORG which has MONEY of assets in custody, followed by ORG, ORG, ORG, the largest NORP player, and ORG.
Barclays was GPE's largest player followed by ORG and ORG.
Barclays PERSON currently employs CARDINAL staff worldwide of which only those in sales, relationship management, marketing and client support will be moving to ORG -- considerably CARDINAL of the total.
Barclays staff trade union ORG said CARDINAL of the staff would transfer with the business.
Analysts said ORG is expected to have paid CARDINAL sterling for the business but the banks said that a final price would not be fixed for some time. The deal is expected to be closed at the beginnning of DATE.
Barclays had included custody in its ""WORK_OF_ART"" category. These include ""lending and other assets that are unlikely to be of long-term interest to the group or that need significant restructuring.""
""Barclays was going to have to pump a lot of cash into the business to make it work and obviously has other uses for its money,"" said CARDINAL analyst who declined to be named.",0
"The rise in ORG (ORG) zinc price to a DATE high in LOC on DATE will benefit GPE, CARDINAL of the major sources of the metal throughout LOC, regional traders said.
""It would be good for GPE because they have a lot of physical metal and they have a lot to sell from producers on the hedge side,"" a trader with a NORP company said.
""They might buy from time to time to speculate a bit but basically they are a producer,"" he said.  
DATE ORG zinc hit a DATE high of $MONEY a tonne on DATE, up from the metal's close at $MONEY in GPE on DATE boosted by rumours that famed financier PERSON was making a speculative play in the market.
Few traders in the region expressed surprise at the talk that a large, losing long position once held by the NORP producer PERSON had been liquidated or transferred and that PERSON had bought zinc or zinc-related equities.  
CARDINAL trader said he heared rumours DATE PERSON was buying shares in zinc producers, and had been expected to buy into the metal once his share positions were finalised.
""I think that if PERSON is involved the price will move,"" the source in GPE said.
And as the world price moves up, so will the NORP price as regional consumers have few other sources, traders said.
GPE's exports of unwrought zinc and zinc alloys in DATE were up PERCENT on DATE, to QUANTITY, according to customs figures.
DATE's exports alone were QUANTITY, they show.  
GPE's official base metals industry newspaper, ORG, estimated DATE that total DATE zinc production would be QUANTITY.
With domestic demand expected to be QUANTITY and essential exports to reach QUANTITY, the market should be kept in balance, it said.
ORG (CNNC) said DATE that domestic zinc demand would reach QUANTITY by DATE, from CARDINAL in DATE and CARDINAL in DATE.  
Supply annually outstripped demand for the metal, ORG said, with a surplus in DATE of QUANTITY. NORP zinc smelter capacity is QUANTITY a year.
Traders said NORP zinc goes to GPE -- a big user with total imports of QUANTITY a year -- GPE, GPE, GPE, GPE and GPE.
Trading sources in GPE, GPE and GPE said demand throughout the region remained strong, riding the back of rampant economic development.  
The official ORG reported DATE that domestic NORP zinc prices would probably drop below MONEY (US$MONEY) a tonne DATE, due to oversupply.
However, traders polled by ORG said the lack of alternative suppliers, other than GPE, would keep export demand for NORP zinc healthy.
""LOC consumers can only take the NORP material, because if you ship anything from LOC, the premiums would be even higher,"" the NORP trading source said.  
NORP HX brand zinc sold out of GPE warehouses at a fixed price of $MONEY or $MONEY a tonne, he said. Higher prices meant lower, more flexible premiums (over ORG cash prices).
""When the price is $MONEY, the premium is $MONEY, $MONEY, $MONEY and no one buys. Now the premium (in GPE warehouses) is $MONEY for HX brand,"" he said.
""I think with the ORG price coming up so much, with the price DATE to $MONEY, they will easily let it go at a $MONEY premium,"" he said.
Other traders said the premium on NORP zinc to GPE is currently $MONEY a tonne and to GPE $MONEY.  
GPE's construction sector had slowed recently and some traders on the island had been trying to take a position and offer the metal at premiums lower than the $MONEY levels that prevailed until recently. This has pushed the GPE premium down to $MONEY a tonne, an industry executive said.
-- GPE newsroom (CARDINAL) 2843-6470","NORP importers are expected to make incremental use of import quotas for QUANTITY of palm oil to avoid driving up the world price and pushing down the domestic price, LOC traders said on DATE.
GPE still has significant stocks of edible oil -- reported in official media to be QUANTITY by DATE -- which could even keep GPE out of the palm oil market until DATE, traders said.
A flurry in NORP palm oil futures prices on DATE, as speculators reacted to news the NORP government had approved imports of QUANTITY of palm oil, was a knee-jerk reaction, trading sources around the region said.
""This is just panic short-covering and speculative interest,"" a GPE trader said.
""People are just looking at the volume of QUANTITY, they are not looking at the market reality,"" he said.
Import licences could be extended, said another trader, as those issued in DATE had been for DATE.
""This is just the normal DATE allocation,"" he said. ""Unless GPE buys CARDINAL a month, there is no justification for a market move, this is just on the news.
""People have been talking about it for DATE or more. There is no need (for GPE) to hurry,"" he said.
ORG Minister PERSON said on DATE GPE had approved imports of QUANTITY of palm oil DATE.
GPE would provide PERCENT of GPE's palm oil, PERSON said, with the remainder coming from GPE.
At TIME, the benchmark ORDINAL position DATE crude palm oil futures contract was up CARDINAL ringgit to CARDINAL riggit (US$MONEY) a tonne. Among refined products, DATE ORG palm olein was traded at $MONEY a tonne FOB GPE.
Traders said domestic NORP palm oil prices were MONEY ($MONEY) a tonne.
Using the DATE bulk palm olein ORG GPE price as a benchmark, traders said importing did not make economical sense for GPE as costs, freight, insurance, and import and value-added taxes would push the price MONEY ($MONEY) a tonne.
""They are not likely to use the quotas straight away,"" another trader said.
DATE per capita consumption of edible oil in GPE is QUANTITY (13.2 lb), compared with the average QUANTITY (QUANTITY) in developed countries.
Traders said GPE had been importing QUANTITY a month of palm oil, mostly as bulk palm olein, up to DATE.
Palm olein is used by the food industry for manufacture of ice cream and cakes; palm oil is used for frying in the production of instant noodles.
ORG figures released DATE show GPE's edible oil imports, including palm oil, in DATE were QUANTITY, down PERCENT from DATE. DATE vegetable imports were nil, the figures show.
Palm oil imports for DATE totalled QUANTITY, trading sources said, down PERCENT on DATE period.
Overbuying in DATE was still hanging over the market, traders said. Some sources have predicted that current vegetable oil stocks could last until DATE, and they point to soft domestic prices as proof.
Indeed, prices indicated in GPE on DATE showed vegetable oil prices falling to MONEY ($MONEY) a tonne, from CARDINAL ($MONEY) a tonne DATE.
Soyoil fell to CARDINAL a tonne, from around 7,500 DATE, according to figures from ORG ORG.",1
"NORP shares rallied on DATE following the coalition government's win in DATE ORG elections, but analysts said the rise was due more to a technical correction than to a change in investor sentiment.
ORG ORG index rose PERCENT on DATE, spurred by gains to CARDINAL of the CARDINAL most-capitalised shares.
Brokers, however, were muted in their optimism that the rally would last DATE, saying the centre-right government's strong showing was expected and already built into the market DATE.
""Basically, this is a technically-led rally, I don't think it has a basis to do with ORG elections,"" said PERSON of the brokerage ORG.
Added another local trader: ""You're not seeing real volumes here you're just seeing prices being pushed up in anticipation of DATE, and without a doubt it is domestically driven. Foreigner investors are still on the sidelines.""
The minority coalition of Prime Minister PERSON took CARDINAL of CARDINAL seats in the newly-created upper house of parliament, following the ORDINAL round of voting, well ahead of the centre-left opposition NORP which took CARDINAL seats.
The ORG is a mostly advisory body with limited legislative powers, but the election was the ORDINAL test at the polls for ORG since his coalition lost its lower house majority in general elections in DATE.
But a thin turnout -- PERCENT of the electorate cast their ballots -- made it hard for the CARDINAL-party coalition government, which lost its lower house majority in DATE, to claim it had recaptured voters' hearts.
The GPE bourse has been hard hit in DATE -- falling PERCENT since DATE -- with most investors shying away from the a market characterised as opaque at best, and little regard for minority shareholder rights.
And analysts said that the election would probably not bring about a new push for changes to securities laws within the coalition, a condition that is necessary to lure back participants.
""I'm a little sceptical about the possibility that the ORG will help bring in changes,"" said ORG of Zivnostenska Banka.
""I think there will be a lot of pressure from market participants on the government to do something...but I have not seen any signs of a change in attitude of the coalition with respect to this topic.""
Analysts said that the market should take some heart however, in statements made by ORG following the vote when he said he saw no reason to call early elections for the lower house, which should keep the market stable in the near future.","The introduction of new accounting methods for NORP banks will not have an immediate impact on their earnings, but it should help boost derivatives trading in GPE, analysts and banking sources say.
Major banks are preparing for the new accounting methods for derivatives and securities trade, which will be introduced from DATE, although the types of financial instruments to be covered by the new methods have not been set.
But the sources said the use of mark-to-market accounting would help increase arbitrage deals in derivatives while also helping reduce potential volatility in swap rates.
""Following the introduction of mark-to-market accounting, we will be able to offer various hedge instruments to clients, and this will help increase business opportunities for us in the long term,"" a bank official said.
In mark-to-market accounting, unrealised gains or losses in the trading accounts must be included in the current income statement.  
Currently in GPE, financial products are basically appraised according to the cost of purchase, and realised gains or losses are posted in current income statements only when the positions are closed.
CARDINAL analyst said the new accounting methods would not be used for interest rate swaps for long-term holdings.
""Big commercial and trust banks posted bigger operating profitS CARDINAL as they increased profits from interest rate swaps,"" she said.
Even if the big banks take speculative positions in interest rate swaps, the deals are not expected to be covered by the mark-to-market accounting methods as they are not considered as instruments for short-term capital gains, she said.
Naruaki Sonoda, a senior analyst at ORG, said mark-to-market accounting standards would be applied only to short-term trading and banks do not hold shares for that purpose despite their huge stock investments.
Also, unrealised profits or losses in short-term bond dealings are not big enough to influence bank earnings, he said.  
The NORP parliament passed a special act in DATE allowing banks and brokerages to include gains or losses from derivatives and short-term securities trading in their income statements from DATE.
To use mark-to-market accounting methods, however, banks and brokerages must get permission from ORG. Not all banks are expected to apply to use the new methods.
A ORG official said the ministry has been working out details of which securities and derivatives deals will be covered by the new accounting methods.
Deciding which deals go into the trading account will be based on the initial purpose -- whether the deal was aimed at long-term holding or short-term trading, said PERSON, deputy general manager at ORG capital markets trading division.
""We are trying to separate trading accounts from non-trading accounts based on business units,"" he said.
Each bank will divide its financial products holdings into CARDINAL accounts -- CARDINAL account for hedging risks in holdings of underlying cash instruments and for long-term investments, and the other for short-term operations, the sources said.",0
"CARDINAL of GPE best-known pro-democracy politicians, PERSON, was dragged away kicking and screaming by police after lying down on a road to protest against GPE's methods of choosing a post-colonial leader.
CARDINAL pro-democracy activists scuffled with riot police outside ORG, where a committee of CARDINAL chosen by GPE voted for a chief executive to rule GPE after GPE hands the colony back to GPE at DATE.
CARDINAL activists shouting ""oppose the phoney election"" lay down on the road and were dragged away by police.
PERSON, an independent NORP fiercely critical of GPE's communist rulers, was among those carried off, witnesses said. It was not immediately clear if they were arrested.
Fellow legislators PERSON of ORG and trade union leader PERSON were also hauled away.
""It's a sad day for GPE. What can ordinary GPE citizens do -- they cannot vote,"" PERSON PRODUCT, a legislator of ORG said.
Earlier, protesters erected a ""tomb of democracy"" outside the building and condemned the voting as the end of freedom and the rule of law in the territory.
Only the CARDINAL electors chosen by GPE voted for the future leader. None of the rest of GPE CARDINAL people had a vote.
CARDINAL pro-democracy activists demonstrated on DATE TIME and CARDINAL diehards camped out TIME with the imitation tomb in front of ORG.
As the ORG members arrived in shiny limousines, their ORDINAL sight was an imitation ancient NORP-style grey arched tomb, constructed from wood.
The structure faced ORG with the inscription ""WORK_OF_ART"". Candles flickered in the wind beside it.
The committee was convened to carry out the ORDINAL of CARDINAL historic tasks -- to elect the man who will step into the shoes of Governor PERSON when GPE pulls out. The clear favourite was shipping magnate PERSON.
The committee's ORDINAL task, on DATE, is to choose a provisional legislature that will replace the current elected ORG) on DATE.
The scuffles erupted after police urged the demonstrators, from ORG, to move to a cordoned-off area.
Occasionally the group marched a short distance bearing the tomb aloft, as in a funeral procession. In front of the tomb a banner was posted saying ""WORK_OF_ART"".
""We are against ORG so-called election of the ORDINAL chief executive,"" said PERSON. ""The selection is not real because it is done by GPE,"" the legislator said.
The protesters brandished a colourful banner with the slogan ""Oppose the False Election Of The Chief Executive, Oppose The Provisional Legislature"" and denounced GPE for not allowing GPE electorate to vote.
""This is an abuse of their human rights. Some people are more equal and have more rights. In other cultures it is always your vote that counts. In GPE this is apparently not the case,"" Tse said.
""They say they represent GPE and GPE people but they are not elected. How can they represent us if they are not elected? What is an election with CARDINAL appointees?""","GPE colonial Governor PERSON on DATE refused a request by future leader PERSON to support the interim legislature GPE will install in the territory when the NORP depart DATE.
Shipping magnate PERSON, emerging from his ORDINAL meeting with PERSON since being chosen on DATE by a GPE-controlled committee to head GPE from DATE, told reporters that PERSON flatly refused to provide any help to the new legislature in the run-up to the transfer of sovereignty to GPE.
""I brought up the work of the provisional legislature. I hope Mr Patten and the GPE government can give help,"" Tung told reporters outside ORG, PERSON's residence.
""But Mr Patten's position was very clear. I didn't successfully convince him,"" Tung said.
Both men emerged from a TIME meeting to exchange hearty handshakes and make brief speeches to the press, but mentioned little else of what transpired behind closed doors.
Describing the discussion as ""long and constructive"", both said they agreed to meet in the future when the need arose.
Patten, looking serious next to GPE, managed the occasional smile for photographers but turned to lead Tung into a waiting car immediately after his successor completed his short speech.
Neither of them took questions.
DATE's meeting was conducted under a cloud of strained NORP relations after GPE snubbed NORP objections and went ahead last Saturday with naming the provisional legislature that will replace the current elected ORG (Legco) when GPE returns to NORP control DATE from now.
The interim assembly was designed by GPE to reverse electoral reforms that Patten introduced unilaterally in DATE.
The move came under an international spotlight after NORP Foreign Minister PERSON on DATE challenged GPE to let the ORG rule on the legality of the new assembly.
Patten also lashed out at the new lawmaking body on DATE, calling its appointment by a CARDINAL-member ORG ""a bizarre farce"" and a ""stomach-churning"" process.
""What it shows about GPE is that, here it is taking over responsibility for a ORG economy but they're trying to foist on us political institutions which a Third World country would reject,"" PERSON had said.
""Here we are having foisted on us institutions which, frankly, you wouldn't try to run a tennis club with,"" he said.
GPE, however, has warned GPE against creating problems and to keep out of GPE affairs after the handover.
""After DATE, GPE will be an internal affair of GPE. No foreign countries can interfere with GPE's internal affair,"" GPE's envoy in GPE, PERSON, told reporters.
""Whether GPE wants to accept my advice is up to it. But if it wants to create more new trouble, I don't think it will be out of the ordinary,"" he said on DATE at a public function.
The controversial new body is dominated by PERSON figures, including CARDINAL incumbent lawmakers and many politicians who lost to pro-democracy candidates in the DATE Legco election.
ORG, the biggest single winner in DATE election with CARDINAL of the CARDINAL ORG seats, boycotted the creation of the provisional body, branding it undemocratic.
ORG, as it will be known, is to sit from DATE until a new legislature can be created via elections.",1
"This is ORG' ORDINAL ex-GPE air cargo market report.
It will be published regulary until a new version is published at DATE.
GPE, Oct 17 - (Reuter) Current average ex-GPE air cargo market rates in GPE dollars per kg for a QUANTITY shipment, with volume-to-weight of CARDINAL to one.
						Oct CARDINAL	     Sept CARDINAL
				LOC
ORG					CARDINAL		CARDINAL
HK-FRA					22.40		CARDINAL
				ORG20.70		CARDINAL
HK-LAX					CARDINAL		CARDINAL
				LOC
HK-DXB					CARDINAL	     CARDINAL
				ORG					 CARDINAL		CARDINAL
HK-TAIPEI				    CARDINAL		CARDINAL
HK-TOKYO				    CARDINAL	     CARDINAL
* The rates in this report were obtained by ORG journalists on a confidential basis from a range of airlines, large forwarders and smaller cargo agents.
* All prices were quoted in GPE dollars.
* The tariffs represent average calculated from a range of prices and are indicative of current market acitivity.  
Demand for space has eased slightly as a recent backlog is cleared and some airlines provide extra capacity, but key ex-GPE rates have continued to rise, ORG research shows.
Airlines and freight forwarders report brisk business as the territory's traditional peak season gathers pace and high demand for space has allowed airlines on NORP routes to again raise rates for the ORDINAL time within DATE.
A rise of MONEY a kg on DATE follows a ORG a kg rise imposed on DATE on key routes to LOC. Transpacific demand is also said to be especially strong allowing rates to firm slightly.
Pressure for cargo space is also being exacerbated by high demand on passenger flights which is reducing bellyhold capacity for many airlines.
PERSON, the chairman of ORG and director and general manager of ORG (HK) Ltd, said the market was very strong especially in his company's main sector, GPE.
""Every single flight is full but space should become a little better because some airlines are putting on extra capacity. In DATE there was a backlog everywhere but that is now easing,"" ORG said.
He also highlighted the ORG a kilo rate rise on routes to LOC from DATE with more ""unfair rises"" due to bite.
CARDINAL GPE airlines have drafted in extra aircraft to cope with heavy LOC demand.
Polar Air Cargo is employing CARDINAL additional ORG PRODUCT freighters between the territory and GPE and GPE.
""At DATE it was really busy with a lot of airlines having a backlog in GPE, GPE and GPE. But right after GPE's national day and the DATE festival when a lot of factories closed down it gave us the chance to move a lot of cargo out of GPE and gave us the chance to clear the backlog,"" said PERSON, ORG GPE sales manager.
More extra capacity on the LOC route has come from ORG which says it now offers CARDINAL ORG PRODUCT flights DATE instead of CARDINAL previously. The additional flights on DATE are to GPE,GPE then onto GPE and GPE.
""All flights are absolutely full and if we had additional flights. into GPE we would have no problem filling them because there is a lot of freight being moved and a backlog is building up,"" said ORG's Vice President PERSON
There is also extra capacity being drafted onto a main NORP route. ORG says it will put an additional freighter on the GPE to GPE route before DATE because of high demand.
The extra flight will increase the total number of flights ORG operates to GPE in a joint venture with ORG to CARDINAL per week. DATE also saw an additional freighter being drafted onto the route increasing the number of joint freighter from DATE during DATE and DATE to CARDINAL now.
ORG ,which has CARDINAL freighter flights per week between GPE and PERSON wet-leased from ORG, in addition to belly cargo space on its twice daily passenger flights to FAC, also reports a very strong market.
""This is the peak of DATE and we have been very strong and are very pleased with our performance. Every available CARDINAL of space is full and we think that will carry on for the forseeable future,"" said PERSON, ORG s regional cargo manager PERSON who is based in GPE.
He said rates to LOC have increased to reflect the strength of the market and thinks another rate rise is justified.
""Fuel prices have gone through the roof. Yields are again at the same level they were DATE but underlying costs are increasing, particularly fuel,"" complained PERSON.
PERSON, Managing Director of freight forwarders ORG also said pressure for space has recently eased as a backlog is cleared.
""Space is tight but available which proves that the airlines are working together and not discounting too much. Rates have stayed firm and the airlines are trying to keep rates up,"" he said.
He said rates to LOC have recently increased by around 20 per cent and by MONEY to the GPE NORP rates are stable where yields are traditionally stronger.
PERSON, the chief operating officer of the territory's only all cargo airline ORG, which flies PRODUCT freighters both east and westbound, said he had no complaints especially about the trans-pacific sector.
""Unlike in DATE, there has not been that much additional capacity employed during the peak period. Demand both in and out of LOC is also firm and services to GPE are busy. After DATE record year and a slow start to DATE we have high expectations about GPE,"" NORP said
The latest statistics from GPE ORG department show ORG to be the biggest importer of GPE goods. QUANTITY of air cargo was flown from GPE to the NORP capital during DATE, according to the statistics.
NORP also said he expected rates to LOC to continue to rise.
""We are not trying to be greedy but we can't lose money forever and all cargo airlines are trying to recover what we have lost,"" NORP said.
Many airlines report being especially badly hit by GPE seasonal monsoon winds. Northerly winds mean aircraft have to take off in a steep climb over densely populated GPE and payload has to be reduced.
ORG said all carriers were being affected on both NORP and LOC long haul routes by having to suddenly off-load pallets and a backlog of QUANTITY built up in DATE.
""Everybody is being hit by these weather conditions and customers are unhappy about having their cargo left behind - but so are we. It is the ORDINAL time I've ever known so much having to be offloaded,"" said PERSON, the airline's regional cargo manager for GPE, GPE, GPE, GPE and GPE.
PERSON, assistant general manager of ORG in GPE said the back log has now eased, partly due to more cargo being flown from GPE.
PERSON flew its ORDINAL ORG freighter into the NORP enclave from GPE on DATE with QUANTITY of cargo mostly destined to be shipped to GPE. The airport which opened DATE says ORG is the ORDINAL all cargo service to serve GPE on a regular basis and unlike GPE has no severe space and slot restrictions or curfew.
Hong Kong Air Cargo Terminals Ltd (HACTL), which enjoys a monopoly on cargo handling at PERSON said after a ""pretty lack lustre"" ORDINAL half the market has picked up during DATE and DATE which should continue in the traditional peak period towards DATE.
HACTL reported a MONEY increase in throughput during DATE over DATE whnn exports and imports rose by MONEY to QUANTITY and MONEY to QUANTITY respectively over DATE.
HACTL managing director PERSON said transshipments ""soared"" MONEY to QUANTITY ""which interestingly may point to sign of a regional pick-up.""
""There seems to be a shortage of capacity which is traditional at DATE DATE along with the hike in rates. I think DATE we are seeing a slightly more positive outloook,"" Charter said.
HACTL says it is on course for DATE and expects a rise of MONEY which is a far cry from the 23 per cent growth in DATE but ""still welcome."" - Air Cargo Newsroom Tel+44 171 542 8982 Fax +44 171 542 5017","Virgin Atlantic Cargo said it will begin flying a new, shorter route on its GPE to GPE service DATE which will cut TIME off the journey time and enable QUANTITY of freight to be carried westbound and QUANTITY eastbound.
The division of ORG says GPE gave permission for the short cut after recent negotiations with the NORP government which also benefits ORG.
Virgin's pilots are due to begin the new northerly route via GPE and then over GPE and GPE on DATE. The southerly track currently used is over GPE, GPE, GPE and GPE.
PERSON, assistant manager for ORG in GPE told ORG that the new routing offers significant benefits for both passengers and cargo capacity.
""It is a much welcomed boost and will mean quite a dramatic increase in the amount of cargo we are able to carry  For the passenger it will mean TIME less flying time,"" PERSON said.
He said PERSON's ORG A340 aircraft will require QUANTITY less fuel enabling eight tonnes of cargo to be carried with a full passenger load from GPE and QUANTITY from GPE.
Until now during DATE DATE, Virgin has been able to carry only two tonnes of belly cargo and during DATE four tonnes from GPE. Weight penalties are less east bound, it added.
Virgin says GPE's airlines will be following in the footsteps of GPE's ORG which has been flying the short cut across GPE for DATE. -Air ORG Tel+44 171 542 8982 Fax +44 171 542 5017",1
"ORG DATE introduced its ORDINAL network computer, the LAW, in a direct challenge to ORG and ORG, the dominant players in the industry.
Saying the company was ushering in a new era of computing, Sun Chief Executive Officer PERSON unveiled a sleek, charcoal-grey device, QUANTITY by QUANTITY, with no disk drives or slots or floppy disks, to allow access to networks of computers and the Internet, at a cost of $MONEY.
ORG, and ORG are challenging the computer industry's dominant ""Wintel"" architecture from ORG and ORG with the new low-cost, low-maintenance network computers, or ""NCs.""
""Today you'll see why the network is the computer and has been since DATE,"" PERSON said, reiterating ORG's mantra.
The ORG is targeted at businesses. ORG said the machines might eventually be offered into the consumer market by cable TV and telecommunications firms as Internet access devices, but it declined to say when that might happen.
With Java, software applications can be written in one language and distributed across networks and diverse computers and computing environments, from mainframes to minicomputers to personal computers and now to the new NCs.
""Java computing is going to be as powerful as the mainframe in the DATE, the minicomputer in the DATE and the PC environment of DATE,"" said PERSON, president of ORG Computer Co.
Sun introduced CARDINAL versions of the FAC. The lowest cost, $MONEY version does not include a monitor or a keyboard. The systems are aimed at corporate users of ORG workstations and host computers, but can also access ORG PC applications from a host computer running EVENT.
At a news conference in GPE, ORG executives said they did not expect the new machines to take the place of personal computers, but they also professed amazement at the news conference ORG held DATE.
ORG, with several major players in the PC industry, unveiled its own ""NetPC"" strategy aimed at driving down the cost of PC ownership, with new features in Windows for network management, calling it ""ORG.""
""I have never seen such totally reactive vapour,"" PERSON told reporters. ""We must really have touched a nerve.""
GPE said it was simply a move by the ""old-line legacy ORG"" trying to hold onto its position in the world. Wintel refers to the combination of ORG operating systems and ORG chips.
""People call it a PC on a diet, I call it a PC in a corset, with the strings pulled too tight and a bright red face,"" PERSON said, referring to the ORG initiative.
But even with all the hype surrounding the industry's latest infatuation, ORG executives and analysts were not expecting big sales of the GPE, nor will the FAC become a big percentage of ORG's hardware sales.
""This thing is a small percentage of the total product environment, it will help sell more servers,"" PERSON told ORG.
""Maybe DATE from now it will begin competing with low-end PCs,"" said PERSON at ORG, noting ORG's network computing strategy is tied to future expansion of its PERSON technology.
ORG said the entry level model, containing QUANTITY of memory, will ship beginning in DATE. A fully configured system, which includes memory, keyboard, a mouse and QUANTITY monitor, will cost $MONEY.
The company also said it will offer a FAC with QUANTITY of memory, a mouse, keyboard and a QUANTITY monitor for $MONEY. The FAC also has a small operating system, the Java OS, taking up QUANTITY of memory.
While the devices are lower cost than the typical PC, which can range in cost from MONEY, ORG executives said their customers will save money as the costs of PC ownership for businesses escalate and are now estimated at anywhere from $MONEY to $MONEY a year, per PC.
ORG said a ORG costs MONEY a year to maintain, or MONEY for DATE, potentially saving corporations MONEY.","CARDINAL of the hottest topics at a recent Internet trade show was so-called ""push technology,"" which directly broadcasts customised news to computer users hooked up to the Net -- but is also seen as the next area ripe for a shakeout     Internet broadcasters are led by companies
like privately held ORG, which announced a major deal with software giant ORG DATE.
GPE, Calif.-based ORG and several other start-up companies deliver customised news -- or specific Web sites, depending on the service -- to consumer or corporate computer users, up to several times a day.
In other words, instead of searching the Web for the information they want, computer users have it sent directly to them.
ORG, a GPE research firm, predicts that by DATE Internet broadcasting will be worth MONEY in revenues. It now represents MONEY in revenues DATE.
""Making the Internet a broadcast medium is a direction that a lot of companies are going in, but that's already really crowded,"" said PERSON, an analyst with ORG
At the Internet World trade show, CARDINAL of the best-known push technology companies exhibited and demonstrated their services, trying to differentiate themselves amid all the hype about direct Internet broadcasting.
But analysts said there are anywhere from CARDINAL start-ups in this burgeoning area, as many companies are betting the concept will further change LAW Web and gain new advertiser interest.
""This is the new Web,"" said PERSON, senior investment analyst at ORG, host of the Internet World show.
PointCast was the ORDINAL company to develop what are called personalized broadcast systems, and it now has CARDINAL subscribers. It delivers news from ORG, ORG, ORG., and now ORG, the cable television-online news venture of ORG and ORG ORG.
PointCast and most of the other start-up companies operate on the same advertising-based model. They sell advertising space on their service and offer the service for free to subscribers.
By building up lots of subscribers, they can gain more advertising revenue.
The deal ORG signed with ORG has the potential to significantly expand its subscriber base because ORG will become part of ORG's next-generation computer desktop. ORG plans to incorporate its Internet Explorer Web browser in its next version of its Windows operating system, which dominates its market.
In a study DATE, ORG said the Internet broadcasting market will significantly affect the way companies collect advertising dollars on the Web.
""The Web is hitting a wall"" in terms of people signing up for paid subscriptions for information, said analyst PERSON of ORG. ""ORG) is successful, but not every content provider has had success. Users can get the information elsewhere for free.""
Bain said that, according to her report, PERCENT of all online users surveyed said that they typically access or use the same Web sites on a DATE basis, making the ""push"" model attractive.
But with many more companies arriving on the scene and ORG and ORG getting into the market, consolidation is on the horizon, because media companies will not want to develop a channel for each delivery system, most of which, for now, are proprietary.
""There is no way I am going to download all CARDINAL of these, and I am in the industry,"" said PERSON, CARDINAL of the founders of search engine power ORG Corp. ""This is a huge issue.""
But PERSON said that Yahoo! and other Internet search engines are looking at push technology because it will enhance a user's experience with the Web.
""WORK_OF_ART to do a lot of development with one of these companies, or a Yahoo!-branded push channel,"" PERSON said in a recent interview. ""We will all experiment.""
At Internet World, ORG, CARDINAL of ORG co-founder PERSON's many investments, demonstrated a service it plans to introduce sometime DATE. PERSON, ORG's chief technology officer, said the service will be free and demonstrated a television-like advertisement for PERSON's on ""StarWave TV.""
Even the players themselves are predicting a shakeout.
Harmon of PERSON predicts that push technology will fuel a hot new wave of Internet initial public offerings. But unlike the search engine fever, when a bevvy of small, unprofitable companies went public -- only to see their stock prices sharply decline -- consolidation will come ORDINAL, he said.
Another player, PERSON, was purchased DATE by ORG of GPE, GPE Freeloader lets subcribers choose what Web sites they want delivered to their computers and obtain news via Individual.
""Clearly, there will be a big shakeout,"" said Freeloader President PERSON, adding that there is a lot of chaos right now. ""PointCast clearly stands out, and we will be CARDINAL of them (the survivors).
Another much-talked-about start-up, ORG, is offering television-like content with video and audio in its service, which will be introduced DATE and called PRODUCT.
The company that created some of the recent frenzy about ""push"" technology is ORG, founded by several former ORG employees.
Marimba did not exhibit at Internet World, but the GPE, Calif.-based company, which develops software tools to create these ""channels"" using ORG programming language, was mentioned by everyone. Marimba, along with ORG, were seen as the potential early IPO candidates of this sector.",1
"GPE's wealthy baby-boomers are disillusioned with service provided by banks and believe loyalty is not rewarded, a survey released on DATE found.
Those approaching retirement were also unhappy with the performance of their superannuation funds and were looking to move elsewhere wherever possible, the survey by forecaster ORG has found.  
""GPE's affuent boomers -- the demographic group owning the largest share of private wealth -- are distrustful of the performance and motivations of financial institutions, and yearn for a return to the days when customer loyalty was rewarded,"" BIS Shrapnel said in the survey titled ""WORK_OF_ART.""
Those surveyed had assets worth MONEY, excluding the family home.
The survey of CARDINAL people aged over CARDINAL in CARDINAL seperate focus groups around GPE found they sought more individual treatment by knowledgable staff.  
""In particular those approaching retirement are more likely to equate good service with personal service and contact,"" BIS Shrapnel survey project leader PERSON said.
""They want to develop a relationship with CARDINAL particular person within their banking branch,"" he said.
The survey found that ORG (ORG) was the least liked of all the banks, PERSON said.
Respondents found the ORG slower, more unfriendly, more impersonal and less modern than the other banks, he said.  
Westpac Banking Corp Ltd was seen as the next least-liked bank while ORG and ORG were seen in another group in-between ORG and the credit unions, which were the most favourably received.
Former building societies like ORG, which are in the process of merging, were seen as similar to the credit unions.
""Among the major banks with the most negative comments were the ORG and PRODUCT,"" PERSON told ORG.  
""ORG and NAB were in the next group while the credit unions were in another group out front,"" he said.
The survey also found that rich baby-boomers did not believe that swapping pension funds would improve their returns.
""They intend to move away from superannuation,"" PERSON said.
Law changes were also generating anxiety about superannuation, he said. ""Affluent boomers expect governments to continue to change the rules in a way that will benefit governments rather than contributors,"" he said.
The survey also found that banks were perceived as greedy.  
""Reports of huge profits compound the resentment to bank fees and banks are believed to be primarily concerned with looking after their shareholders rather than their customers,"" the report said. ""Affluent boomers are particularly annoyed by new charges for ORG and EFTPOS usage.""
PERSON said ORG PERSON would approach the big financial institutions for funding for a more comprehensive survey of CARDINAL people face to face on attitudes towards the financial institutions.
-- ORG CARDINAL-2 373-1800","ORG unveiled the largest transatlantic deal in history on DATE, linking up with GPE's ORG in a MONEY merger that catapults it into ORDINAL place in the world's international telecoms market.
The deal with ORG -- the number CARDINAL GPE long-distance phone company after GPE telecoms giant AT & T Corp -- creates a MONEY group to be called ORG, which will have CARDINAL business and residential customers in CARDINAL countries.  
""DATE begins a new era for all of us as we go forward in PERSON and harmony,"" PERSON, ORG's president and chief operating officer told a news conference as journalists were plied with champagne.
In an attempt to keep CARDINAL step ahead of rivals as world telecom markets are liberalised, ORG is taking on a partner with a powerful position in the world's biggest telecoms market, generating PERCENT of the world's long-distance calls.  
Under the deal, which has yet to win regulatory approval on both sides of the LOC, ORG shareholders would receive up to MONEY cash and new ORG Shares. For each ORG share, investors will get CARDINAL new ORG shares and $MONEY cash, valuing ORG shares in the mid $MONEY each.
BT is also paying its CARDINAL shareholders a special dividend bonanza of MONEY (MONEY), or CARDINAL per share, which is not dependent on any completed merger.
The company also said it would ask shareholders to approve plans for its ORDINAL ever share buy-back at an extraordinary meeting to approve the ORG deal.  
BT, whose motto ""It's good to talk"" appears to have paid off since alliance talks failed with NORP rival ORG and ORG DATE, already owns PERCENT of ORG.
Sir PERSON, ORG's chief executive, denied that the deal with ORG was the ORDINAL best choice for ORG, which has been keen to get access to the world's fastest growing telecoms market -- LOC -- via Cable and ORG' PERCENT stake in highly profitable ORG.
""It's not ORDINAL best, it's ORDINAL best,"" he told the news conference.  
ORG already has a joint venture with ORG called ORG, which provides a whole range of communications services to customers in CARDINAL nations. ORG also carries PERCENT of the worldwide traffic on the Internet.
""The merger combines the substantial financial resources and global position of ORG with the growth momentum and market expertise of ORG, known for its success in the competitive GPE long distance market,"" ORG said in a statement.  
The new telecoms giant, which will have DATE cash flow of MONEY, will be incorporated in GPE with headquarters in GPE and GPE and operate under the ORG and ORG brand names in GPE and GPE.
ORG expects the merger, after PERCENT earnings dilution, to yield savings from combining overlapping services of MONEY (MONEY) over DATE and QUANTITY pre-tax annually after that.
BT also forecast dividends of MONEY per share for DATE -- a rise of PERCENT over DATE -- excluding the CARDINAL per share special dividend.  
BT, which will release full year results on DATE, has declared DATE dividend of MONEY payable in DATE, PERCENT more than in DATE.
The deal is believed to be the ORDINAL largest ever involving a GPE company -- topped only by the DATE buyout of ORG by PERSON
Analysts said a combined company would be a good fit in the ultra-competitive GPE long-distance phone industry, where ORG's major competitors are ORG and ORG.
Current market leader ORG, which would be the hardest hit by a financially muscular new enlarged rival, said on DATE it was confident any ORG/BT deal would receive proper scrutiny by the GPE government. (MONEY)",0
"The growing mass of Internet users have paid their fair share to local telephone companies and pose little threat to the phone system, a study by a group of Internet and computer companies said DATE.
The coalition presented the report to counter studies by local phone companies released DATE seeking to justify new access fees on Internet usage. The phone company studies found that Internet usage threatened to overwhelm the system.
""The Internet is not crashing the telephone network,"" said PERSON, president of ORG, at a news conference here.
""We are bringing the real facts to bear on a 'problem' that the phone companies have anecdotally created to protect their own interests,"" PERSON, whose group is CARDINAL member of ORG, said.
ORG said on DATE that it had tentatively decided not to impose access fees on Internet providers similiar to those paid by long-distance companies to local phone companies.
But the commission also asked for comments about the effect of the Internet on the phone system.
""Our findings clearly show that claims of phone network 'congestion' resulting from Internet traffic and predictions of a 'meltdown' are greatly exaggerated,"" PERSON, CARDINAL of the study's authors, said.
Further, ordinary consumers using the Internet already pay the phone companies more than enough to cover the cost of increased use, said ORG, an expert on telecommunications regulation.
The study found, for example, that in DATE consumers paid MONEY for installation and use of CARDINAL second phone lines devoted to accessing the Internet or other online services. The study said another CARDINAL ORDINAL lines were not primarily used for Internet access.
Local phone companies, some of which had not seen the new study, disputed ORG's conclusions.
""To suggest that there is no real problem here is mind boggling,"" ORG spokesman PERSON said. As Internet companies add huge numbers of phone lines to meet growing demand, ""it does impact the capacity of the public telephone network.""
ORG, for example, said recently it would double the number of modems it has to connect with subscribers from CARDINAL by DATE.
But phone company studies considered only a few pieces of the phone system, focusing on switchs between Internet service providers and the rest of the network, ORG said. While those few switchs might be congested, capacity could be added inexpensively, he said.
The study also cited speeches by some phone company executives who have bragged about the additional revenues generated by increased Internet usage.
""Sales of secondary lines at ORG increased PERCENT, fuelled by surging demand for Internet and telecommuting applications,"" company Chief Executive PERSON told Wall Street analysts DATE.
The revenue generated substantial profit because ""we were able to provision new lines and services from idle capacity in an existing plant,"" he said.
Company spokesman PERSON said charges from ORDINAL lines ""were not designed to subsidise Internet service providers.""
In the end, all sides agree that a technological solution could eliminate most congestion problems by separating calls carrying voice and data.
ORG, parent of ORG, announced DATE it would introduce such splitting technology at a cost of MONEY.
""Technological solutions are readily available,"" PERSON, chairman of the Internet coalition's steering committee said.","Fast running out of options, federal credit unions are hoping ORG will decide DATE to wade into the midst of their DATE legal battle with the banking industry.
ORG CARDINAL justices are expected to decide whether or not to hear the credit union case, lawyers involved in the case said.
The banks, who filed suit to challenge a DATE policy adopted by ORG (NCUA) relaxing previous membership limits, have urged the court not to take the case.
Lower courts have agreed with banks that membership should be sharply limited at CARDINAL of credit unions, cooperative non-profits that offer bank-like services.
If the court decides not to hear the case, membership limits could force many credit unions to be dissolved or broken up into smaller, less-efficient institutions, according to PERSON, federal regulatory counsel to ORG.
""It would be kind of like a court-ordered savings and loan crisis,"" PERSON said. ""This case is extremely important to the safety and soundness of the industry.""
If CARDINAL justices favour taking the case, the credit unions would have a final chance to erase the limits.
Oral arguments could be scheduled for later this term, with a decision likely by DATE.
""This is about settled law,"" said PERSON, counsel for ORG. If credit unions want to change the membership limits, they should go to ORG and ask for legislation, he said.
""The policy of who gets to be a member of a credit union is not a judicial issue but a legislative one,"" added Crotty.
Until DATE, credit unions were limited to having members with a single common bond, people who worked for the same employer or lived in the same neighbourhood. But DATE, the NCUA began allowing credit unions to include members from multiple, distinct groups.
That angered banks, which contended that some of the larger tax-exempt credit unions posed unfair competition. In DATE, the banks sued a GPE credit union that had grown to encompass CARDINAL groups.
The case wound its way through the system, reaching the federal appeals court for GPE DATE. The court ruled the NCUA had exceeded its authority and that members of each credit union must share a single common bond.
A lower court then ordered credit unions to stop accepting members from CARDINAL group, although the order was partially suspended until ORG makes a decision or declines to hear the case.
The case, ORG v NCUA et al, is on a list of cases ORG justices are scheduled to discuss DATE.
It is possible that the justices might not get to the case DATE, and then it would likely be discussed at a conference DATE, lawyers said.",1
"GPE could have a QUANTITY sugar surplus from this DATE's campaign but little will be exported due to high local production costs and a world sugar surplus, sugar experts say.
ORG said the state would buy some surplus sugar for strategic reserves and would prepare indirect support for exporters but it ruled out direct export subsidies.
Industry sources varied in their assesment of potential foreign markets but agreed producers will try to sell as much as they can at home as world prices were considerably lower.
""It is expected that the surplus will be CARDINAL to 100,000 tonnes,"" said PERSON of the ministry, adding that total production will be CARDINAL raw value after last campaign's QUANTITY.
She added net sugar exports in DATE should be QUANTITY. PERSON declined to say how much the state would buy for its reserves from this DATE's crop, nor what the reserves are, saying this was secret.
""State reserves will be filled, other parts will have to be exported. But it is very difficult to get to foreign markets,"" PERSON added.
She said ORG was not importing due to higher output. There are payment problems with GPE and GPE, but former NORP countries were potentially interesting, she said.
Director of trading firm ORG believed the surplus would total QUANTITY, most of which would stay in GPE.
""The surplus will not be so dramatic...There are quite good yields but the harvest is going slowly due to bad weather. A forecast freeze and subsequent warming will limit output.""
""Producers will not want to export...(because of low prices) Those who can store it, will, he told ORG, adding he believed the state could buy QUANTITY QUANTITY for reserves.
Secretary of ORG PERSON also saw a CARDINAL surplus but said it could be partially swallowed by the state and the elasticity of domestic consumption. But he stressed that financial costs of storing sugar could push producers to sell at any price.
ORG said local prices have dropped to CARDINAL crowns per kilo from DATE. The market is protected by a PERCENT tariff, which will drop DATE to PERCENT.
""We are pushed from CARDINAL sides -- the domestic surplus and low price on the world market. If prices drop further, other sugar could get here,"" ORG told ORG.
Breweries could buy QUANTITY more than they usually do if prices go below the costs of malt, and citric acid makers could take care of QUANTITY, ORG said.
""There is a hunger for sugar in GPE, GPE, GPE, also in GPE,"" said ORG. He added that GPE, which itself expects to have a sizeable surplus, was also a potential market.
""We also cannot expect to supply the GPE exchange, because our sugar does not meet the conditions,"" added Prochazka.
He said NORP exporters could also look to traditional markets like GPE...""Of course, the price would be poor.""
The ministry and ORG said the surplus would lead to a smaller sown area DATE after CARDINAL hectares DATE. ""I believe the optimal area for DATE would be CARDINAL hectares,"" ORG said.","By strengthening its management team with the new post of chairman of its domestic business, ORG is attempting to address head-on its problems in the intensely competitive GPE market.
""The signal they are trying to send is, 'we clearly recognize that we have problems in the GPE and we are going to do something about it',"" ORG analyst PERSON said.
Those problems include declining same store sales in the mature and intensely competitive GPE market, analysts said.  
Analysts said they expect ORG's DATE same store sales to be down compared with DATE.
""They have not had DATE in the GPE DATE,"" ORG said. ORG does not disclose same store data measuring sales from units open DATE.
""Margins have been under pressure for DATE in the GPE,"" added Schroder ORG analyst PERSON.
Naming PERSON, who remains vice chairman of the company, as chairman of ORG indicates the fast-food giant is not pleased with the direction of its domestic business, ORG said.  
""They are trying to shake things up and put a little more focus on being aggressive in responding to the competition,"" PERSON added.
As part of the management changes, PERSON, ORG's GPE president, will report to PERSON.
""PERSON and I are good friends. We work well together. He's very enthusiastic about this,"" PERSON said in a telephone interview. ""We all want this business to do well.""
Despite the pressure in GPE, ORG's international business, which accounts for CARDINAL of its operating income, continues to be strong, analysts said.  
""International is a wide-open growth opportunity for ORG,"" ORG said.
Given the intense competition between ORG, ORG and Grand Metropolitan plc's ORG, PERSON faces a tough job as head of the GPE operations, analysts said.
""He is going to parachute into...what looks to be one of the most challenging operating roles in the GPE fast-food restaurant business,"" ORG said.
But Greenberg, DATE, said he believes ORG's is well positioned to compete in the GPE market. ""We've got more locations than anybody else. We've got the most powerful brand in the world...We've got the largest marketing budget. We've got enormous purchasing power,"" he added.
ORG's operates CARDINAL restaurants worldwide, including CARDINAL in GPE.
While Greenberg joined ORG in DATE as chief financial officer, he said he has field experience with its restaurants. ""I spent DATE in the field in restaurants and became a regional manager for DATE as well,"" PERSON said.
ORG Chicago PERSON",0
"Revised rules for GPE electronic cocoa and coffee auction system have been agreed to stop overbidding, a source close to discussions on the issue said.
Changes agreed between marketing board PRODUCT, exporters and ORG were expected to be put in place but no date had been set.
""Bidders will be held to the price they offer rather than the ORDINAL highest bid price now applied,"" said the source.
""There are CARDINAL main changes we have agreed which should now be applied quickly,"" he told ORG, pointing to a date in DATE or DATE.
The ORDINAL rule change would allow exporters to buy PERCENT of contracts previously reserved for PRODUCT direct sales to traders abroad if prices were right, said the source.
Existing rules mean the Caistab's PERCENT is withdrawn and submitted for later auction even when exporters are prepared to pay more than outsiders.
The rules were originally designed to ensure lots could be held back in the hope of higher offers later.
""Direct sales only act as a safety valve when traders bid more than exporters,"" said CARDINAL observer. ""The changes on that point will favour the exporters as more will remain on offer.""
ORG would also be awarded to the CARDINAL highest bidders rather than one and scaled down pro rata if total demand outstripped supply. Bids are made without knowing what quantities are on offer for a particular session.
The donor-backed auction was launched on DATE as part of a MONEY ORG loan deal, but Commodities Minister PERSON said at the time it could lead to distortion of contract prices.
""There is a double speculation here because the futures
market is a type of speculation and the same goes for the auctioning system,"" he said.
QUANTITY of cocoa is estimated by exporters and industry analysts to have been sold forward for CARDINAL, plus QUANTITY for CARDINAL, since the new screen-based system replaced telephone trading.
QUANTITY of CARDINAL cocoa was sold before the auction opened.
Exporters told ORG average quantities now offered at each auction session were too small.
Others said exporters had bought cocoa on the spot market but lacked NORP contracts for shipping to clients abroad.
QUANTITY are auctioned DATE, or QUANTITY in each of CARDINAL trading DATE after allowing for CARDINAL destined for local production, one said.
""We would prefer CARDINAL DATE sessions of QUANTITY to make sure we can secure whole contracts in one go,"" he said. ""Coffee contracts are smaller so the same problem doeen't arise there.""
""Support for the system is disappearing, especially for physicals traders. Most of this DATE's crop is sold so we are really talking about contracts for DATE,"" said CARDINAL exporter.
The exporters' PERSON trade body was still in talks with the PRODUCT DATE after claims that a few firms had won too many contracts by bidding unrealistically high prices.
Exporters have said they lack the financial clout of foreign operators and face higher costs.
""It (the auction) is completely unworkable,"" said CARDINAL exporter.
The PRODUCT has estimated a total of QUANTITY of cocoa and QUANTITY of coffee for DATE.","GPE will only market its midcrop cocoa (DATE) if world price levels are right, PERSON Commodities Minister PERSON said on DATE after a DATE cocoa sector review.
""We will market the midcrop if prices are right,"" he told ORG at the end of a ORG cocoa review with ORG, industry, donor and NORP officials.  
Cocoa stocks around NORP ports in DATE filled warehouses to a capacity estimated by trade sources to be close to QUANTITY.
Cocoa futures in FAC terminal market trading slumped to DATE lows on DATE. DATE contracts were trading at CARDINAL stg but by DATE's close had edged up to 886 stg after an afternoon high of CARDINAL stg.
Traders noted slowing origin selling activity.
GPE midcrop is usually of poorer quality than main crop cocoa, tempting some buyers to mix it in with main crop cocoa to get a better price. Industry buyers say this undermines quality.
The meeting of GPE cocoa ORG reviewed sector reforms ranging from quality, export contract auction rules, security of supply for buyers and farmgate prices paid to farmers.
Industry delegates said they wanted better quality controls put in place after market liberalisation, separate marketing of good and bad grades of cocoa and rules to prevent overbidding at auctioning of export contracts.
GPE aims by DATE to PERCENT of an DATE cocoa output at home and wants to stabilise its production at QUANTITY.
ORG forecasts for CARDINAL are still not clear as flower survival rates after dry weather have not been assessed.
Pod counters said initial prospects seemed good after early pod setting on hybrid trees in south-west Ivorian plantations around GPE.
GPE produced an unexpectedly large QUANTITY midcrop in DATE of QUANTITY.
""It would be unwise for the government to interfere in a crop of this size,"" said CARDINAL industry delegate. ""The government has said in the past it would withold midcrop and has then used it.""
-- Abidjan newsroom +225 CARDINAL (c) ORG DATE",1
"GPE dues at GPE main port of GPE will rise by PERCENT from DATE to fund expansion projects, a government statement said.
Rates would increase by PERCENT for ships, PERCENT for container gantry cranes, PERCENT for containers and PERCENT for cargo and other items, it said.
The charges, which caught shipping companies off guard, were agreed by ORG in DATE but awaited government blessing. ""The cabinet has approved the new rates,"" the statement said.
Shipping companies said the costs would probably have little impact but were awaiting more details from ORG.
""We have not done our calculations yet but if this is just a port charge rather than a direct handling charge it will passed straight on to the consumer,"" said CARDINAL container line manager.
Others said growing competition on GPENORP routes would mean some companies might choose to absorb some costs to attract business.
""Competition determines what costs are passed on,"" said another shipping manager. More ships had been deployed in the GPE region recently as freight rates were higher than on NORP routes.
""Port costs are a hell of a lot higher than in LOC but freight rate earnings are also better,"" said the manager. ""We will wait for clearer details.""
International donors have been pushing for efficiency measures rather than investment in infrastructure as a way to boost cargo handling capacity. In DATE the government urged port operators to meet efficiency targets to attract private sector development loans from ORG.
""Things have definitely improved. Container throughput time at the port for imports was DATE,"" said a container shipping manager. ""Now it is only 11 and the target was set at CARDINAL.""
The efficiency drive began DATE but shippers say export cargo efficiency targets have been less successful. A target of DATE was set for export container throughput.
""For exports we are talking about rapid documentation for transit cargo. Bureaucracy there has not changed much,"" said another line manager. This is mainly cotton from the Sahel.
Measures include shortening times for declaring ships' manifests to customs, under the threat of port fines, and avoiding duplication of paperwork.
Gantry cranes, plagued by downtime, were expected to be in use PERCENT of the time and handle CARDINAL containers an hour.
Local shipping agents said they were also concerned by talk of a bunker surcharge. Large customs fines for non declaration of ships' bunkers have been levied over DATE.
""It's a problem. But the port needs money and still competes well with others in the area,"" said CARDINAL. ""Other ports in the area have applied all kinds of add-on charges.""
Projects put on hold after devaluation of the CFA franc in DATE included new gantry cranes, renovating a fruit terminal, building a fish wharf, dredging and a new container park.
Increasing quantities of GPE principal cocoa and coffee exports are being shipped in containers. --Abidjan newsroom +225 CARDINAL","NORP and GPE scientists are making good progress in meetings on GPE's decision to ban poultry imports from GPE, a GPE source said on DATE.
The NORP government banned all imports of poultry and poultry products from CARDINAL GPE states DATE for fear it carried a virus called highly pathogenic avian influenza (HPAI).
Although the ban has yet to be implemented -- GPE wanted to hear what the GPE experts had to say ORDINAL -- it threatens an export market worth MONEY a year.
""The ORDINAL set of meetings on DATE were frank, candid and held in a positive atmosphere,"" the source, who refused to be identified, said by telephone from GPE.
The meetings are between GPE's ORG (APHIS) and GPE's ORG).
CARDINAL APHIS experts arrived in GPE on DATE TIME and would stay in GPE for as long as it took to solve the problem, the GPE source said.
""There is no timetable,"" the source close to the talks said. ""We are willing to take as much time as is needed in order to make sure the NORP have as much information as they can to make an informed decision based on good science.""
Meetings had already been scheduled for DATE and would, if necessary, continue on DATE, he added.
APHIS experts, GPE diplomats and meat industry executives say HPAI does not exist in commerical flocks in GPE, having been eradicated in DATE.
GPE sources have said NORP quarantine officials seem to have confused HPAI with the less-virulent avian influenza, or ORG, which CARDINAL NORP source likened to the common cold.
Sources have said ORG officials would be joined by experts from other government departments for what sounded like a series of lectures and presentations by the NORP team.
The GPE source in GPE said the NORP had so far been receptive and were taking a ""very positive approach"".
GPE sources said the plan was to concentrate initially on the technical side of the dispute before raising trade issues.
If the dispute goes beyond the differences the CARDINAL countries have in interpreting science, GPE could find itself accused of using bad science as a non-tariff trade barrier.
This is the case with wheat. GPE refuses to import wheat from specific areas of GPE because it cannot be guaranteed free of a fungus called TCK smut.
GPE says the fungus is harmless and that GPE's policy of CARDINAL tolerance is a barrier to QUANTITY of GPE wheat sales DATE to GPE.
-- GPE (CARDINAL) 2843 6470",0
"The burger battle will continue in GPE DATE as fast-food chains test new recipes and cook up promotions to draw more customers into their eateries -- and away from each other.
ORG dominates the landscape with CARDINAL GPE units and CARDINAL worldwide. But in spite of a new menu, its GPE same-store sales are below DATE levels.
""This will be their DATE of lower comps (same store sales) in the GPE,"" ORG analyst PERSON said, referring to DATE.
ORG, on the other hand, has seen GPE same store sales rise PERCENT in DATE, following an PERCENT gain in DATE. Spokesman PERSON declined to comment.
""Wendy's..., although their margins have been squeezed, has the best traffic of the big three,"" said PERSON of ORG.
Wendy's has CARDINAL GPE units and CARDINAL worldwide.
ORG, a unit of ORG, said its GPE same-store sales rose PERCENT for DATE.
ORG had CARDINAL units worldwide at DATE, including CARDINAL in GPE.
At this point, ORG may have the most significant new product offering in DATE, a fresh pita sandwich that is currently being tested in CARDINAL GPE markets and may be rolled out nationally DATE, analysts said.
""It's being given very serious consideration,"" ORG said of pita sandwiches. ""We're very pleased with the test.""
Adelman said he expects the pita sandwich to be launched in GPE later in DATE, adding, ""That's going to be a material event for (ORG).""
In DATE, ORG's stole the menu spotlight by introducing its ORG hamburger, garnished with lettuce, tomato and a mustard-mayonnaise sauce, as well new chicken and fish deluxe sandwiches.
In spite of those new menu items, ORG same store sales continued to show declines compared with DATE.
ORG's GPE same store sales showed a negative comparison in DATE, spokesman PERSON said, but he declined comment on DATE.
ORG has blamed the drop in its GPE same store sales in part on an intensely competitive domestic market.
Looking ahead, analysts said the most significant event for ORG's likely will be the start in DATE of its DATE exclusive marketing alliance with ORG That alliance gives ORG's exclusive rights to marketing tie-ins -- such as toy giveaways -- to ORG movies.
Ebeling said the ORG alliance will be the ""centerpiece"" of ORG's marketing efforts, ""but not the only thing.""
As for its menu, ORG said ORG's will continue to focus on ""delivering great food taste,"" but he did not comment on new items.
((ORG Chicago Newsdesk (CARDINAL) DATE))","ORG said DATE it reached a DATE deal with ORG that thrusts ORG into the top tier of GPE wireless communications providers.
Under terms of the deal, ORG said it will connect its network to a system planned by ORG to provide personal communications services, giving it the capacity to offer service to CARDINAL individuals in CARDINAL areas, including CARDINAL of the top CARDINAL markets.
GPE-based ORG said it will buy MONEY minutes of capacity for its personal communications services from ORG over DATE. Terms of the deal were not disclosed.
Personal communications services represent the new generation of celluar communications services, allowing customers to send both voice and data transmissions over wireless telephones.
The deal will help underpin the financial future of debt-laden PRODUCT, which was the largest bidder in ORG auctions for ""C-band"" wireless radio spectrum held in DATE.
PRODUCT, based in GPE and GPE, also plans to sell stock to the public.
For ORG, the deal enables it to expand quickly into the rapidly growing market for wireless personal communications services.
DATE, ORG dropped out of the auctions for GPE PCS licences after the bidding became too rich for its taste.
But with the PRODUCT pact and previous smaller deals, ORG has moved to become a major reseller of wireless services.
As part of the deal, ORG selected ORG to provide telecommunications and other services supporting the development and ongoing operations of its personal communications services system, ORG said.
""This agreement with ORG establishes an immediate nationwide ORG footprint for ORG and represents an important next step in ORG's wireless strategy,"" said PERSON, vice president for ORG wireless strategy and development.
""This is the ORDINAL full interconnection agreement of its kind and brings new competition to the wireless marketplace,"" he said, noting that with full interconnection, ORG does not need to own its own wireless facilities.
ORG said the PRODUCT agreement is a model for additional agreements it expects to sign with other wireless providers as part of its wireless interconnected network strategy.
The strategy is ORG's blueprint for developing a full range of wireless services and features that will be integrated into ORG's existing communications services.
""This was ORG's strategy all along,"" said PERSON, an GPE-based telecommunications industry analyst.
PERSON said ORG has historically preferred to resell communications services initially rather than investing in its own infrastructure. Over time, the company selectively builds its own infrastructure as it proves profitable to do so.
""Reselling service was how they became a heavy hitter in long distance in the ORDINAL place,"" PERSON said. ""What their plan is, is to resell service from other providers and build networks where they see the need to do so,"" he said.
PERSON said ORG's deal with MONEY the rapid realisation of its reseller strategy. ""This all of a sudden puts ORG on the wireless communications map in a big way.""
Still, he noted that ORG ORG unit, the former ORG business, remains twice as large as ORG's cellular business, with CARDINAL subscribers in geographic regions covering CARDINAL potential customers.
ORG's deal with PRODUCT covers CARDINAL potential customers living in a mix of metropolitan and less-densely populated areas.
ORG's stock traded at $MONEY a share DATE, down MONEY, on ORG.",0
"International trading companies are rebelling against a contractual stipulation by NORP traders demanding the right to reinspect and reject some cargoes arriving in GPE, traders said on DATE.
""No way, there is absolutely no reason for any trading company to accept these terms,"" a GPE grain trader said.
NORP companies named by trading sources were unavailable to comment on reports the new contracts gave them the right to re-inspect soybean and soybean meal cargoes on their own terms.
Those terms allowed the NORP buyer to inspect the cargo once it arrived at a NORP port, even though it had already passed inspection before leaving for GPE, another trader said.
Ostensibly, the terms were to protect the buyer in case a quarantinable bug or disease was found in the cargo -- such as TCK smut, which affects wheat and is barred from GPE.
But traders were concerned the new terms could exposure them to further risk if some buyers used them as an excuse to renege on deals as prices dropped.
Traders polled by ORG said their companies were refusing to accept the new contracts.
""They are taking positions themselves,"" a veteran trader said of the NORP trading houses involved. ""And you are always increasing your risk in dealing with speculative buyers.""
GPE has bought CARDINAL and QUANTITY of soybeans and soybean meal in DATE, traders said. Much of it is being loaded or is on the way and due to arrive in GPE before DATE.
Prices have fallen dramatically, especially since GPE's DATE, after which most orders came. Since then, NORP traders have been on tenterhooks awaiting letters of credit from the NORP buyers guaranteeing payment.
Earlier, soybean cargoes were purchased above US$MONEY a tonne. ORG DATE soybean futures closed on DATE at $MONEY a bushel, or $MONEY a tonne.
Some NORP traders have earned themselves a reputation in DATE for reneging on deals if the price of the commodity they are buying drops between the order and the delivery.
Few NORP traders have reported washed-out deals since the price decline began.
But some said the re-inspection terms, which began appearing on contracts in DATE, could be attempts by the NORP buyers to squeeze discounts out of the sellers.
International trading companies have previously been stung when GPE's food trading arm, ORG, Oils and ORG (COFCO) altered contractual terms.
In DATE, COFCO informed the trading companies that they would have to bear responsiblity for the rejected cargo and all costs if TCK smut was found on wheat shipments arriving in GPE,
Traders in LOC said they refused to do business with GPE on those terms and the matter was dropped.
""After the TCK debacle, we're not willing to take any risks. It's not the way international trade is done,"" CARDINAL source said.
-- Hong Kong News Room (CARDINAL) 2843 6470","GPE officials are confident a GPE visit by senior agricultural experts will break an impasse that threatens a multi-million dollar NORP market for GPE poultry products, a GPE agriculture official said on DATE.
""Things are looking good,"" the official in GPE told ORG on condition of anonymity.
""I would say we have all the evidence we think we need to convince them (the NORP) there is no problem,"" he said.
CARDINAL senior GPE agriculture officials would arrive in GPE from GPE on DATE TIME for meetings with NORP quarantine and agriculture officials, he said.
The talks starting on DATE TIME would focus on a ban GPE slapped on imports of poultry and poultry products from CARDINAL GPE states because of fears they carry a fowl plague known as highly pathogenic avian influenza (HPAI).
GPE's ban came to light on DATE but has not yet been implemented as, GPE sources said, NORP officials decided to wait and hear ORDINAL what the GPE experts had to say.
The talks would initially centre on the technical and scientific aspects of the dispute, the GPE source said.  
""We're trying to keep it that way so the trade issue does not come into it until the technical side has been presented,"" he said.
It would become a trade issue if the NORP side did not accept GPE scientific evidence ""and if we feel they'll enforce a ban that has no technical or scientific basis,"" he said.
The GPE side viewed as a favourable sign GPE's recent approval of CARDINAL bovine semen centres and CARDINAL embryo transfer centres to import GPE veterinarian technology, he said.
Bilateral meetings were also set for DATE on plant health, covering fruit imports, and on the long-simmering issue of wheat imports and a wheat fungus called TCK smut.
""And the secretary of state (PERSON) is coming in DATE, so all of this is helping us negotiate better,"" the source said.
GPE diplomats, agriculture officials and meat industry executives say HPAI does not exist in commercial GPE flocks, having been eradicated in DATE.
They say China's ORG) is confused about the difference between LAW and avian influenza, or ORG, which CARDINAL source equated with the common cold.  
The HPAI virus was apparently detected in ostrich breeding stock in GPE destined for ostrich farms in GPE, and which were being inspected by CAPQ personnel.
Detection of the virus did not mean the bird was diseased, said a GPE diplomat, likening it to a tuberculosis skin test.
The dispute threatens GPE ORDINAL biggest market after GPE for poultry and poultry products, and its only market for chicken feet, considered a delicacy in GPE.
GPE poultry exports to GPE in DATE totalled QUANTITY trans-shipped through GPE alone, worth MONEY, according to ORG and ORG.
The council's representative in GPE, PERSON, told ORG that every day QUANTITY of GPE chicken feet cross the border from GPE into GPE.
-- Hong Kong News Room (CARDINAL) 2843-6470",1
"GPE Undersecretary of ORG PERSON has begun talks with NORP officials in GPE on arms proliferation issues, a ORG official said on DATE.
""She has arrived and started talks,"" the official said by telephone. PERSON arrived in GPE DATE and was due to hold talks on DATE and DATE.
""She is the undersecretary for arms control issues... She has a whole range of issues that she'll be bringing up with the NORP,"" the official said when asked what PERSON would discuss with her hosts.
Deputy Assistant Secretary of ORG PERSON flew into GPE DATE for talks before PERSON's visit.
PERSON, director of ORG, also visited the NORP capital recently.
Officials have said PERSON would discuss how the CARDINAL countries might implement a DATE, peaceful nuclear cooperation accord that would let GPE firms sell nuclear power reactors to GPE.
GPE has tried to lure foreign technology, some of it with potential military value, with promises of lucrative business contracts.
GPE's official ORG said on DATE that GPE firms stood to win MONEY of nuclear energy contracts if the DATE agreement were put into effect.
""NORP-U.S. cooperation in nuclear energy development has yet to enter a substantial stage,"" ORG quoted PERSON as saying.
""Negotiations on the agreement are still under way,"" added PERSON, the deputy-general director of ORG international cooperation bureau.
The pact has not been implemented because of GPE's concern that GPE has sold nuclear technology to unsafeguarded nuclear facilities in other nations, most notably to GPE.
Both GPE and GPE deny the charges.
GPE agreed DATE not to provide aid such as ring magnets and other devices used in making nuclear weapons to unsafeguarded nuclear facilities.
GPE officials say a reported nuclear-related deal between GPE and GPE was struck before the DATE accord was drawn up and that they have no evidence GPE has violated the pact.
PERSON would also renew GPE concerns over NORP sales of conventional arms to GPE, who GPE has blacklisted as a sponsor of terrorism, officials have said.
GPE is investigating reports that GPE and GPE are close to a deal to sell GPE CARDINAL NORP helicopters that could be armed with air-launched missiles.
PERSON's talks were expected to pave the way for a visit by GPE Secretary of ORG PERSON DATE, his ORDINAL to GPE in DATE.
PERSON's DATE visit ended in bitter wrangling over human rights issues.
NORP-U.S. relations have been battered in DATE by disputes over human rights, GPE's rampant copyright abuse and GPE's terms of entry into ORG.
ORG said DATE it was deeply concerned over a NORP court verdict sentencing prominent pro-democracy activist PERSON to DATE in prison for plotting to overthrow the government.","Workers at a key ORG metal stamping plant in GPE began returning to work on DATE after ratifying a deal to end a DATE strike that threatened to paralyze most of the automaker's light truck production.
But a similar settlement eluded negotiators at ORG's GPE, GPE, truck assembly plant, where a strike over local issues by CARDINAL workers entered its DATE.
PERSON, which builds ORG's popular ORG, ORG and ORG sport/utility vehicles, is one of the automaker's most profitable factories.
The deal for CARDINAL workers in GPE, which came TIME after ORG and the ORG announced a tentative agrement for a new national labor contract TIME, calls for the hiring of CARDINAL new workers at the plant.
It also leaves seniority rules for skilled trades workers intact and provides MONEY in back pay for workers to settle grievances.
""I regret we did have to call a strike here,"" said ORG regional director PERSON in GPE. ""I'm hoping other ORG plants I'm responsible for will heed the seriousness of local agreements.""
The GPE strike shut off shipments of fenders, doors, hoods and oher steel body panels to CARDINAL of ORG's NORP light truck plants. By DATE, parts shortages due to the strike had caused ORG to shut down truck plants in GPE, GPE, GPE, GPE, GPE, GPE and GPE, GPE
Including the strikers at GPE and GPE, the ORG walkouts had idled CARDINAL workers, in addition to CARDINAL ORG workers still on layoff because of lingering parts shortages from a DATE ORG strike that ended DATE.
ORG officials said stamping operations would resume DATE TIME, with the plant back to full production by DATE, but that may not prove soon enough to keep other plants from running out of parts, including ORG's full-size pickup truck plant in GPE, GPE, which employs CARDINAL people.
Other threatened plants that receive parts from GPE are located in GPE, GPE, GPE, PERSON and GPE, GPE.
On DATE, ORG President PERSON put ORG on notice that some of the automaker's ORG's CARDINAL other locals may go on strike over lack of progress in local negotiations.
A clearer picture of the ORG-GM national agreement, which covers CARDINAL GPE TIME workers, began to emerge DATE. The contract meets the pattern set by ORG and ORG on most major issues, including a guarantee that ORG will maintain jobs for PERCENT of its current TIME work force.
But the pact contains exceptions that will allow ORG to sell some unprofitable parts plants, including a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE
On economics, the pact gives wokers a $MONEY bonus in DATE of the contract, followed by PERCENT raises in DATE of the contract. It also provides generous gains in pension benefits, including the elimination of a cap on outside earnings for retirees, which is viewed as a major incentive for older workers to leave the company.
Like ORG and ORG, ORG will be able to pay workers in new auto parts businesses that it enters a lower wage than the standard $MONEY an hour paid by the Big Three.
ORG has been trying to shed parts businesses as it tries to catch up to ORG's and ORG's efficiency levels. But analysts say the pact could slow ORG's progress in trying to shrink its work force through attrition.
""ORG is not going to get the competitive lift from labor in this contract,"" said PERSON, a retired ORG professor of management who is close to GPE's Big Three automakers. ""They have to find  enough efficiencies to support excess labor.""",0
"Drug discovery specialist ORG plc said on DATE it is testing CARDINAL anti-cancer compounds before deciding which will go forward into human trials before DATE.
Both are ORG inhibitors, the same novel class of drug as NORP PERSON potential blockbuster ORG, which are believed to stop cancer cells from spreading.
In an interview, chief executive PERSON said ORG hoped to have its own competitor to ORG in early trials DATE and Phase III trials in DATE.","ORG said on DATE that it expects to continue increasing earnings per share by PERCENT for the forseeable future, on revenues seen rising PERCENT per year.
""At this point there is nothing on the horizon to suggest we should be backing off from that (earlier forecast),"" chief financial officer PERSON told ORG.
ORG earlier reported DATE earnings per share of $MONEY, PERCENT ahead of DATE and exactly in line with analysts' consensus estimates carried on ORG.  
However, analysts were pleased by very strong growth in the business fundamentals, which included an industry-leading PERCENT rise in access lines and a PERCENT growth in cellular users. The stock was CARDINAL firmer at CARDINAL in TIME.
PERSON was delighted with ORG's line growth.  ""We just don't see it stopping; its unbelievably strong,"" he said.
ORG's local calling areas are mostly suburban, where families who telecommute are most likely to live, and where families have adolescent children who need their own lines -- as well as a computer or CARDINAL in the home needing a line.  
On top of this ORG areas are concentrated in Sunbelt areas like GPE, where economic growth has been very strong, or GPE, where it is rebounding from recent weakness.
""ORG is in a position to grow faster that the regional Bells because of their concentration in suburban markets,"" said PERSON of ORG, noting that an end to sales of local operations has unmasked this growth.
PERSON said that ORG had worked hard to cut its customer turnover -- or churn -- in cellular services, which increases marketing costs substantially.  GPE high value customers had paid dividends, without hitting overall growth.  
As a result, average DATE bills are $MONEY per month, $MONEY above the industry average, and churn has fallen PERCENT from DATE.  Most customers are now on term contracts.
""Our (consumer) bad debt is coming down also,"" PERSON said.
ORG offers long distance across CARDINAL states, including all the areas where it already offers local service -- a privilege which regional ORG will only be allowed when they have proven their own local calling markets are competitive.
It has already garnered CARDINAL customers since it began in DATE and expects to reach CARDINAL soon after DATE at the expense of the industry's big CARDINAL players.  
""...Most of our business is coming from the CARDINAL traditional dominant players,"" PERSON said.
ORG, ORG and ORG are the industry's big CARDINAL.
PERSON said that the long distance customers gained seemed above average in terms of call duration and spending.
ORG in DATE began providing customers in GPE with a single bill for all their ORG cellular, local, long distance and Internet services and will roll this out to new regions as soon as possible.
Single billing has long been desired by the industry as a tool to retain customers, who like the convenience of writing a single DATE check, but few companies have the software in place to support it. -- GPE 212 859 1712",0
"ORG NORP unit PERSON a.s. said on DATE its new mid-sized ""GPE"" sedan will list on its home market at a base price of CARDINAL crowns, at the low end of its class.
At a media presentation at the plant north of GPE, marketing chief PERSON said GPE will make CARDINAL Octavias DATE, and raise production of the line to CARDINAL in DATE.
The new model, built on a common ORG platform designed for the DATE PERSON and upgraded PERSON, will be available with CARDINAL petrol and CARDINAL diesel engines in CARDINAL lines, with the top-of-the-line ORG automatic model priced at CARDINAL crowns.
The GPE will get its international test at ORG in DATE and should be delivered to NORP dealers in DATE, followed by launches on foreign markets where prices have yet to be determined.
Skoda was taken over by ORG in DATE under a governemnt privatisation plan. The company built an entirely new factory for GPE production.
Continuing the break from the boxy NORP-era ORG, the GPE has more modern but conservative lines, somewhere between a ORG PRODUCT and ORG's A-line.
Skoda is hoping to build on the success of its PERSON economy CARDINAL-door hatchback by offering an affordable middle-range sedan and take back chunks of its home market lost to NORP seeking a more western-looking status symbol.
""GPE... is a logical step from PERSON into a higher market segment,"" said GPE.
The cheapest GPE includes QUANTITY, CARDINAL Kw engine, ignition immobiliser, driver-side airbag, plus an adjustable driver's seat and steering wheel.
More expensive versions will be alternatively equipped with a DATE kw, CARDINAL-valve CARDINAL kw engine, CARDINAL kw turbodiesel or CARDINAL kw diesel engine, and an optional passenger-side airbag.
Side-body airbags should be available in DATE.
Wittig told reporters that GPE should help GPE's total production to rise to CARDINAL units DATE and CARDINAL at DATE after CARDINAL cars made DATE.
""Within the (ORG) concern, GPE takes the position of the counterweight to the NORP producers,"" he added.
Skoda Chairman PERSON said that he expected CARDINAL Octavias to be sold DATE on the domestic market, the rest being exported to the rest of LOC and overseas.
The company lost MONEY crowns DATE due to heavy investments into the new factory, but ORG said the firm should come close to breaking even DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003","The party of NORP Prime Minister PERSON pulled ahead in ORG elections on DATE but with turnout at PERCENT, the real winner was apathy.
In what was billed as a key test of ORG's minority coalition government, candidates of his centre-right ORG (ORG) topped voting in CARDINAL of the CARDINAL constituencies declared by TIME.
But most face a ORDINAL round run-off on DATE for the newly-created upper house, and analysts said the dismal turnout vindicated more the far-right NORP, who boycotted the elections and told fellow NORP to do likewise.
Nationwide figures were not available. But ORG said turnout in CARDINAL of the CARDINAL constituencies had been PERCENT.
This was far lower than forecast and compared with PERCENT participation in lower house elections held in DATE.
Klaus, the father of NORP economic reform, played down the voter apathy and played up the ORG performance following his electoral disaster DATE, when strong NORP gains stripped his CARDINAL-party coalition of its lower house majority.
""From the results so far it is obvious that the citizens of this country understand that they want stability,"" he told reporters, alluding to the political stalemate which has stalled reform since the inconclusive lower house polls.
""These elections ... are an important test of the political feelings of people of this country DATE) elections. In this respect they are giving an important signal,"" he said.
Under the ORG rules, candidates who fail to win CARDINAL the ORDINAL round vote have to face the runner-up in a ORDINAL round. Most constituencies will be decided DATE.
But already it appears the NORP of economist PERSON have done badly, failing to come out on top in a single constituency.
Zeman, whose party has been afflicted by squabbling, appeared to blame the low turnout for the poor result.
But he added: ""I firmly believe that in the ORDINAL round, participation will be markedly higher because then it is a choice between the CARDINAL strongest candidates.""
In the end the NORP led by doctor of philosophy ORG came out looking best without even running.
Sladek hit a chord by denouncing the ORG as a waste of time and money. ""They had nowhere to dump the political zombies so they established the ORG,"" he told a recent rally.
Polls showed few NORP understand the function of the ORG, which has little power compared with the lower ORG. With a few exceptions, most of the candidates are little known because NORP leaders all sit in the lower house.
Conventional wisdom has been that if ODS did well in the ORG, ORG might provoke early lower house polls to regain the coalition's majority, although he denies that.
But ORG is better at mobilising support than the Social NORP when interest is low. A big ODS win on a low turnout might therefore not be representative for lower house polls.
""If there is a low turnout, even if ORG wins, I think that it would be very difficult for the ODS to know the real mood of the country,"" said PERSON, research director at ORG (OMRI).",1
"ORG union unleashed CARDINAL local strikes against ORG truck operations DATE TIME in bids to boost pressure on the automaker for new national and local labor agreements.
CARDINAL members of ORG Local 23 walked off the job at ORG's GPE metal stamping plant at TIME, followed TIME by CARDINAL workers who struck the automaker's GPE, GPE, truck assembly plant.
The negotiations at ORG's GPE headquarters were scheduled to resume DATE TIME after adjourning for TIME DATE.
ORG spokesman PERSON said the automaker had no formal response to the walkouts, which threaten to paralyze much of ORG's light truck production, the automaker's biggest source of profits.
The GPE plant builds ORG's popular ORG, ORG and ORG sport utility vehicles. The GPE plant supplies doors, fenders, hoods and other sheet-metal stampings to CARDINAL of the automaker's NORP truck assembly plants.
All of ORG's truck-related plants have been working heavy overtime in DATE, and the increasing workload has put a strain on workers.
ORG President PERSON had raised the threat of local strikes DATE after intense negotiations over DATE failed to produce an agreement. He also chided ORG for a lack of progress in local negotiations at individual plants.
He said the expiration of ORG's national contract covering CARDINAL ORG workers DATE meant that local units were free to strike to get local issues resolved.
Union officials also said there could be other local walkouts in the near future.
""I'm the one who called this strike,"" PERSON, ORG regional director, said of the GPE walkout. He added that the action was aimed solely at resolving local issues, which he refused to identify.
In GPE, ORG said in a statement that it, too, struck over local issues because CARDINAL bargaining sessions failed to produce an agreement with the automaker.
Only a handful of ORG's CARDINAL local units have signed new local contracts with the automaker. The pacts typically cover items like work rules, staffing levels and health and safety standards, while the national agreement covers wages, benefits, job security and other broad issues.
Bargainers in the national talks reconvened at ORG's headquarters here DATE after DATE DATE. Still on the table is the future of CARDINAL GPE parts plants that ORG considers uncompetitive, the company's top components executive confirmed DATE.
PERSON, president of ORG's ORG division, told reporters at an automotive supplier conference here that none of the CARDINAL factories have improved their performance enough in DATE to be dropped from the company's list of troubled facilities.
ORG has refused to identify the plants, but the list includes a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that the automaker intends to sell. Together, the plants employ CARDINAL ORG members.
The automaker wants to exclude several of the plants from the union's demand that it guarantee employment for PERCENT of its ORG workforce over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern that allow it to cut costs.
The strikes mark a major departure in ORG's bargaining strategy, which until DATE had been marked by unusual conciliation and virtually no strike threats.
The walkouts could help pressure ORG into a tentative national agreement before DATE, when the ORG's CARDINAL-member ORG is scheduled to meet in GPE. The council, made up of plant-level leaders, would have to approve a plant.
The walkouts also came DATE after ORG members returned to work following a DATE strike over the issues of job security and outsourcing, or the shifting of work to outside contractors.
ORG also said DATE that CARDINAL workers in its GPE assembly, powertrain and stamping operations remained idle because of lingering shortages of NORP-made parts.
The automaker said it laid off CARDINAL workers at its GPE, GPE, metal stamping plant DATE, CARDINAL of CARDINAL such plants still affected by shortages.","Workers at a key ORG metal stamping plant in GPE began returning to work on DATE after ratifying a deal to end a DATE strike that threatened to paralyze most of the automaker's light truck production.
But a similar settlement eluded negotiators at ORG's GPE, GPE, truck assembly plant, where a strike over local issues by CARDINAL workers entered its DATE. PERSON, which builds ORG's popular ORG, ORG and ORG sport/utility vehicles, is one of the automaker's most profitable factories.
The deal for CARDINAL workers in GPE, which came TIME after ORG and the ORG announced a tentative agreement for a new national labor contract TIME, calls for the hiring of CARDINAL new workers at the plant.
Due to strong demand for ORG's trucks, the plant has been working heavy overtime, which has put a strain on workers, causing them to seek relief.
ORG also dropped its plans to change job classifications and seniority rules for skilled trades workers and will pay MONEY to workers to settle grievances.
""I regret we did have to call a strike here,"" said ORG regional director PERSON in GPE. ""I'm hoping other ORG plants I'm responsible for will heed the seriousness of local agreements.""
The GPE strike shut off shipments of fenders, doors,hoods and other steel body panels to CARDINAL of ORG's NORP light truck assembly plants. By DATE, strike-caused parts shortages forced ORG to shut down factories in GPE, GPE, GPE, GPE, GPE, GPE and GPE, GPE
Including the strikers at GPE and GPE, the ORG walkouts had idled CARDINAL workers, in addition to CARDINAL ORG workers still on layoff because of lingering parts shortages from a DATE ORG strike, which ended DATE.
ORG officials said stamping operations would resume DATE TIME, with the plant back to full production by DATE. But that may not prove soon enough to keep other plants from running out of parts, including ORG's full-size pickup truck plant in GPE, GPE, which employs CARDINAL people.
Other plants that receive parts from GPE are located in GPE, GPE; GPE, GPE; and GPE, GPE.
On DATE, ORG President PERSON put ORG on notice that some of the automaker's ORG's CARDINAL other locals may go on strike over lack of progress in local negotiations.
A clearer picture of the ORG-GM national agreement, which covers CARDINAL GPE TIME workers, began to emerge DATE. The contract meets the pattern set by ORG and ORG on most major issues, including a guarantee that ORG will maintain jobs for PERCENT of its current TIME workforce.
But the pact contains exceptions that will allow ORG to sell some unprofitable parts plants, including a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE
The pact also is believed to contain complicated formulas that allow ORG to shrink employment in certain businesses as workers retire.
""On the surface, it looks as though as it ought to be viewed by the investor community in a positive light."" said ORG auto analyst PERSON. ""ORG's primary focus was to gain the ability to ride the attrition curve.""
On economics, the pact gives wokers a $MONEY bonus in DATE of the contract, followed by PERCENT raises in DATE of the contract. It also provides generous gains in pension benefits, including the elimination of a cap on outside earnings for retirees, which is viewed as a major incentive for older workers to leave the company.
Like ORG and ORG, ORG will be able to trim jobs when it makes productivity improvements, and can pay workers in new auto parts businesses that it enters a lower wage than the standard $MONEY an hour paid by the Big Three.
ORG has been trying to shed parts businesses as it tries to catch up to ORG's and ORG's efficiency levels. But the contract probably will not allow ORG to shrink employment as much as it would like, said PERSON, a retired ORG professor of management who is close to GPE's Big Three automakers.
""ORG is not going to get the competitive lift from labor in this contract,"" he said.",1
"A leading NORP coffee official on DATE played down a potential rift with GPE over a call to expand ORG (ORG) export retention plan.
PERSON, commercial manager of GPE's national ORG said no decision would be taken on the plan, put forward by NORP producers DATE, until an emergency ACPC meeting in GPE in DATE.
So far NORP traders have been cool in their reaction to the suggestion. CARDINAL NORP exporter, who did not wish to be named, has even said it may be part of a bluff by GPE which, he added, ""was showing signs of not having the coffee it says it has"".
Under the terms of the retention plan -- designed to reduce inventories in consumer countries, thereby increasing the bargaining power of exporters -- ORG members agreed in DATE to limit green coffee exports to DATE to CARDINAL QUANTITY sacks.  
But during their DATE visit to GPE, Ivory Coast Commodities Minister PERSON and Abel Rwendeire of GPE called for an additional cut of CARDINAL QUANTITY sacks in DATE -- a call backed by GPE.
""I don't think our suggestion is unreasonable. There's a meeting towards DATE and at that we will take a final decision. This will give the NORP a little more time to understand what the NORP proposal is,"" PERSON told ORG in a telephone interview.
GPE is forecast to export CARDINAL QUANTITY sacks in the DATE coffee year, according to ORG head PERSON.
It is not fully clear what impact an increase in the ORG export retention plan would have on GPE's exports in DATE.
""The retention will not be proportional across ORG member nations. It is more directed at coffee quality and will affect Robusta most. We cannot say how much GPE would have to retain until we work out the exact division in DATE. But of course we would have no difficulty meeting our export commitments whether this measure was finally approved or not,"" PERSON said.  
On the home front, meanwhile, DATE is predicted to be DATE of ""profound transition and adjustments"" in GPE's embattled coffee sector, according to PERSON, head of ORG (ORG).
""There will be many coffee growers who quit the sector, which is in a transition from a large sector to a smaller and more competitive sector which is not easy,"" PERSON said.
Throughout DATE, GPE's coffee growers have been hard hit by the strengthening peso, their continuing battle against the coffee borer bug and high interest rates.
Those problems could worsen in DATE after ORG announced on DATE it would cut immediately the internal coffee price by CARDINAL pesos per QUANTITY load in a move designed to save ORG it administers MONEY.
The fund, which guarantees to buy all GPE's coffee crop at a fixed price, is nevertheless expected to rack up deficits of MONEY by DATE.
The government has accepted that many coffee growers may be forced out of business and labourers will be left without work. It has said it will back a restructuring programme but has not yet announced a budget for the programme.","NORP truckers began climbing back behind the wheel early on DATE after their leaders signed a deal with the government to end their crippling DATE strike.
NORP Truck Drivers' Association (ORG) head PERSON said the accord granted an immediate PERCENT raise in cargo freight rates with the promise of another inflation-linked increase at DATE -- short of the instant PERCENT hike originally demanded.
The breakthrough in talks between the independent association, the ORG and Interior Ministries and private transport companies came late on DATE, DATE after ORG Minister PERSON threatened to use police and the military to help smash the nationwide strike by clearing road blocks and forcing truckers back to work.
""This is a partial solution to our problems but I think it will be good for our members. This doesn't mean truckers will now be making any profits but at least we won't be operating at a loss like at present,"" PERSON told ORG in a telephone interview. ""We have also agreed to set up a joint committee that will look at future transport policies.""
Key sectors of the economy, primarily those linked to import and export, had issued stiff criticism of the transport paralysis TIME DATE but heaved a collective sigh of relief with news of the agreement.
But the lifting of the strike seems unlikely to offer an instant fix for the crisis-hit coffee sector, which has seen CARDINAL QUANTITY sacks of coffee -- a quarter of that promised for DATE delivery -- delayed by the truckers' action.
TIME DATE, private coffee exporters said many would be forced to default on this DATE's delivery contracts even if the stoppage ended before the weekend because of the backlog of coffee in port and in warehouses.
In addition to the raise in freight cargo rates, a joint committee of truckers, industry representatives and ORG officials will be created to look at other concerns highlighted by the drivers' association, ORG Minister PERSON said.
These include the cost of highway tolls, the price of operating licenses and associated taxes and maximum load restrictions on cargoes.
Part of DATE TIME's agreement means ORG will send a communique to transport companies ordering them to lift unilateral bans on contracting the services of drivers operating trucks DATE where these are currently in force.
Suarez said he did not think the deal hammered out would have an impact on inflation, already running above the PERCENT originally targetted at this point in DATE by the government.
""Hopefully we will not see any gains in inflation or the cost of this accord being passed on to the consumers because the intermediaries, the transport companies, will be absorbing the cost of it by taking a cut in their profit margins,"" he said.
The overall cost of the strike is difficult to calculate but certainly runs into MONEY. GPE's main LOC port, GPE, estimated its losses at MONEY a day because no cargo was coming in or out.",1
"GPE's call for a ""Greater China"" joint-venture bank on DATE was greeted with caution in GPE, where analysts and businessmen said more details were needed to convince the industry of its feasibility.
""It's a good idea. There's certainly a good deal of cross-border trade through GPE,"" said PERSON, regional banking analyst with ORG.
""But most large corporations would probably have established relationships with existing banks,"" he added. ""What value is this new company going to have?""
A leading GPE business leader said on DATE in GPE that GPE, GPE and GPE business heavyweights were considering forming a joint-venture bank in GPE to promote commercial links across LOC.
""We have proposed the idea to our GPE and mainland NORP counterparts to jointly set up a bank in GPE,"" PERSON, chairman of GPE's ORG, was quoted by an aide as saying.
While most people in GPE contacted by ORG acknowledged the political significance behind the idea, they said business and profit were what mattered.  
""This idea is very grandiose...but in business, the priority is making money because we have to put in investments,"" said a GPE-based businessmen with strong links to GPE.
""Mainland NORP banks have many restrictions, what will this bank deal in?""
GPE's PERSON made the proposal in a meeting with visiting business delegations from GPE and the communist mainland, GPE's arch-rival since a civil war split them in DATE.
GPE and GPE entrepreneurs were in GPE for an unofficial economic forum, the ORDINAL large-scale cross-strait contact since the GPE government's DATE announcement of a freeze on cooperative initiatives with GPE.
GPE has banned direct contact -- including banking communications -- with GPE since EVENT. Contacts must be conducted through a ORDINAL region, usually GPE.
Despite the ban and a DATE deadlock in unofficial GPE-China talks, CARDINAL GPE-funded businesses have poured MONEY into investments in GPE since relations began to thaw in DATE.
GPE, a NORP colony for DATE, will revert to NORP control at DATE.
-- GPE (CARDINAL) 2843 6441","ORG plan to build an oil refinery in GPE inched closer to reality on DATE when NORP oil officials revealed GPE was close to giving its long-awaited approval.
A senior NORP oil official involved in the MONEY refinery and chemical complex plan told ORG that GPE was poised to give its stamp of approval before DATE.
""From what I know, it will be approved very soon by the NORP government,"" the official said by telephone in GPE.
""It will probably be DATE,"" said the official.
The petrochemical complex, planned for GPE, in southern GPE's booming GPE, has been on the drawing board since DATE. A feasibility study report was presented to GPE in DATE.
ORG plans to hold PERCENT in the complex and ORG (PRODUCT) PERCENT, while the GPE provincial government, ORG and state refiner ORG each would have PERCENT.
""The NORP side and ORG have discussed this for DATE. Both sides have spent a lot of effort, money,"" said the official, who declined to be named.
If successful, the ORG plant would be the ORDINAL joint venture refinery in the country to involve foreign participation. The CARDINAL barrel per day GPE refinery in northern GPE began trial runs in DATE. GPE's Total holds PERCENT of that facility along with various NORP partners.
Indications that fresh developments on the long-stalled project might soon emerge came in DATE when a top ORG official met NORP Premier PERSON to discuss the company's future cooperation with GPE.
The project figured highly on the agenda when PERSON, chairman of ORG, met the NORP premier in GPE, oil sources earlier disclosed.
""That clearly was a sign that both sides were positive about the project,"" said a ORG spokesman by telephone.
GPE's positive stance was spurred by the overriding concern that the country needed to increase its oil production and refining capacity to meet rising oil demand, the NORP oil official said.
GPE's oil consumption is forecast to explode in DATE, fuelled by economic reforms.
Experts estimate refined oil product consumption would grow at an average DATE rate of PERCENT during DATE, reaching CARDINAL bpd in DATE and CARDINAL bpd by DATE.
To meet rising demand, GPE would need to import QUANTITY of crude oil by DATE compared with QUANTITY in DATE, experts said.
ORG has said GPE would overtake GPE as the world's biggest economy within the next generation and foreign oil companies are keen to tap its domestic market by building new refineries.
ORG's project has faced countless hurdles since DATE, from high costs to strained bilateral relations.
The project was kept on tenterhooks in DATE, when NORP ties plunged to a low over GPE after Governor PERSON introduced democratic reforms in the colony, which reverts to NORP rule in DATE.
GPE's credit-tightening policy in DATE and centralisation of the country's oil policy in DATE erected further hurdles for the costly joint venture project.
""This project was initially thought to be gunned down... because it was too costly. But now, they want to go ahead with it,"" a source with state refiner ORG said by telephone.
At the same time ORG started a long-drawn-out fight for more access to the booming domestic market in GPE.
Some NORP officials are known to be reluctant to giving foreign oil companies toeholds in the massive market while others preferred foreign investments be channeled into upgrades of older refineries.
A ORG spokesman in GPE said the company was hopeful of a speedy decision from GPE.
Details of the joint venture have still to be worked out and the petrochemical complex, which would take CARDINAL five years to complete, would be ready only after DATE, NORP oil sources said.",1
"Pensions and property group ORG  said on DATE it might go on the acquisition trail to develop its financial services interests.
The company, PERCENT-owned by NORP insurance giant ORG, said it was always open to acquisitions and was willing to use its strong balance sheet to fund them.
""We've got various developments in the financial services area -- unit trusts, pensions and offshore. Those are the areas we want to be in long term and if they lead us into acquisitions that's fine - but we don't feel any pressure to do them,"" said PERSON managing director PERSON.
Liberty currently has MONEY (MONEY) in cash on its balance sheet though this may have little bearing on the size of any future acquisition.
""We could spend CARDINAL, CARDINAL or 50 million pounds, it depends on the quality of the acquisition,"" said PERSON.
Liberty, which has a PERCENT stake in GPE's ORDINAL largest quoted largest property company ORG, which it floated as a separate company in DATE, launched a new, low-cost pension vehicle -- ORG -- in DATE.
It also controls ORG, a NORP unit trust group with some 50 million pounds under management.
In DATE, the group announced an alliance with ORG and post office fund managers Hermes which it promised would ""demystify"" the NORP pension market.
At the launch of the venture which offers specialised investment services to the GPE pensions industry, ORG chairman PERSON said he believed pensions would be the fastest growing business in the world over DATE.
The possibility of an acquistion was raised as PERSON reported a PERCENT increase in pre-tax profits for DATE to MONEY.
The dividend at MONEY per share was up PERCENT on DATE. Liberty shares, however, slipped on the results ending DATE MONEY lower at MONEY.
The advance in profits was helped by the performance of ORG which owns CARDINAL of GPE's largest out of town shopping centres - Lakeside, GPE, east of GPE, and the PRODUCT, Gateshead, in north east GPE..
Strong underlying rental growth - up PERCENT at Lakeside - in an improving retailing environment was the main factor behind the performance.
ORG, which has CARDINAL of the top CARDINAL shopping centres in GPE and attracts CARDINAL customers DATE, was enjoying a ""very good growth phase"" and had a strong position in the market according to ORG.
The group could grow it further by expanding existing centres or building new ones such as the QUANTITY shopping centre development at GPE, PERSON, he said.
Shares in ORG climbed PERCENT to MONEY in DATE. Adjusting for the ORG share price, ORG's net asset value per share would have amounted to MONEY per share at DATE.
The shares finished DATE MONEY lower at MONEY. ($= MONEY)","ORG runoff elections on DATE and DATE should have little impact on NORP capital markets, as investors focus on macroeconomic fundamentals, not political influences.
Analysts said DATE ORDINAL round of voting gave a mild boost to the NORP crown and ORG, and unless results from the ORDINAL round of voting on DATE and DATE vary greatly, little further boost should be seen.
""Provided that nothing drastic happens, it's pretty much a non-starter from a foreign investor point of view. I think that for the markets, it will be pretty much a non-event,"" PERSON, of ORG, told ORG.
In the ORDINAL round of voting DATE, Prime Minister PERSON's right-wing ORG (ORG) posted a strong result, capturing PERCENT of the national vote, an increase of PERCENT from DATE lower house elections where his coalition lost its majority.
The opposition NORP were ORDINAL with PERCENT. The rest of the vote was thinly split among coalition parties and the NORP but PERCENT of the electorate voted.
Of the CARDINAL ORG seats, the ORG won CARDINAL outright in the ORDINAL round and CARDINAL of their candidates go into the runoff, compared with CARDINAL for the CSSD. In CARDINAL constituencies, the runoff is a straight fight between the CARDINAL main parties.
Analysts said that with the CARDINAL main parties assured of dominating the ORG, a body which will have limited powers anyway, little change appears imminent for the country's economic, or political course.
""Our expectation is ORG gaining somewhere CARDINAL of the total, and including the rest of the coalition it might be well over 50 seats. I don't think there should be any surprises,"" said PERSON, an economist at ORG.
Following DATE vote, the ORG, mired in DATE long slump began to edge higher, gaining PERCENT over DATE.
But dealers said the gains were based more on weak local buying than a change in sentiment from key foreign investors.
The crown too, ratcheted up slightly after the ORDINAL round of voting, but has since steadied at PERCENT stronger than its dollar/mark basket midpoint.
Some analysts said foreign investors might be tempted, as they were DATE, to play on a strong ORG victory early on DATE, but any gain based on the political situation would be short lived.
""There may be some bias toward a stronger NORP crown,"" said PERSON, a dealer at ORG. ""There's no other factor, more or less the basic impulse for that (a stronger crown) was really because of the elections, and then the subsequent recovery of the capital markets.""
ORG's PERSON added: ""I wouldn't foresee any major changes in the fixed income market. The fixed income market is rather less sensitive to these political events than is the ORG (foreign exchange) market.""
-- GPE newsroom (CARDINAL) DATE",0
"ORG, a NORP high technology company, plans to inject assets into its ORG unit to boost trading in the GPE-listed firm, a top group official said.
The asset injections could begin DATE as the GPE company recovers from its steep slide in profits in DATE, president PERSON told ORG.
""We want to expand our float,"" PERSON said in an interview late on DATE.
""We don't have enough stock on the market. Many investors say 'you are not big enough',"" he said, adding that more shares would be sold once the assets were injected into the listed vehicle.
The plan requires a sharp reduction in the price-to-earnings ratio of the company's stock -- now at CARDINAL -- to CARDINAL.
Duan said a sharp rise in earnings expected DATE and in DATE would help to set the stage for the plan.
The GPE-based ORG listed shares in DATE with a CARDINAL (MONEY) flotation for ORG
The group still has a controlling PERCENT stake in the GPE company, which makes integrated word processors and printers and distributes a wide range of products, including computers as well as office and lighting equipment.
ORG now has CARDINAL joint ventures and it plans to start placing some of those assets into the listed firm.
""We are preparing to inject some of the profitable companies into that vehicle,"" PERSON said.
ORG probably will inject a large part of its PERCENT stake in a MONEY GPE-based joint venture with ORG to produce light fixtures. The plant has required heavy start-up costs but should be profitable DATE, ORG said.
ORG also has a stake in a MONEY semiconductor project with ORG in GPE, although that will not begin production until DATE or DATE.
Stone, CARDINAL of the success stories of GPE's electronics industry, was started with a loan of MONEY ($MONEY) in DATE.
""We used to compete with just the little guys,"" said PERSON.
""That has changed dramatically in DATE,"" he said, adding that all major multi-nationals were now in the domestic market as GPE has relaxed its once-tight curbs on imports.
""Technology is also changing rapidly so we have to make use of our capital,"" the executive said. ""We can't let it stand still.""
Stone Electronic's profits slumped to CARDINAL in DATE from CARDINAL in DATE. But earnings for DATE were up PERCENT over DATE period to CARDINAL.
""I can't give a profit figure for all of DATE but DATE growth will be better than DATE growth,"" PERSON said, adding DATE should continue that trend.
Stone sees specialised electronic products for the banking system and tax collection as areas where it has major advantages over its competitors.
The parent company has also diversified into finance, setting up securities and futures trading operations and investing in a bank. Income from financial operations already has exceeded the company's electronics business. (MONEY) (MONEY GPE dollars)","DATE, NORP publishers were still putting type in place by hand, painstakingly selecting CARDINAL character at a time from CARDINAL of inky stereotypes.
Then in DATE, PERSON, a professor of computer science at ORG, created a software programme to represent NORP fonts on a computer.
DATE, nearly all of GPE's newspapers are printed using ORG's ORG, a product of ORG that he helped the university launch.
""Our NORP word processing software was far ahead of foreign products, that's why we took the leading market position at a stroke,"" PERSON told ORG in an interview.
From ORG's modest origins as a college department offshoot employing CARDINAL workers, the firm now has CARDINAL subsidiaries employing CARDINAL people. It also has a listing on the GPE stock exchange.
Founder's net assets totalled CARDINAL at DATE and the company posted net profit of HK$109 million DATE on sales turnover of CARDINAL.
PERSON, the DATE chairman of what has perhaps become one of GPE's most successful computer companies, predicted the firm would continue its strong performance as the domestic market expands and it finds new opportunities abroad.
The company's net profit in DATE rose a year-on-year PERCENT to CARDINAL and turnover shot up PERCENT to CARDINAL.
""I can confidently say that we will see an increase in both turnover and profit in DATE,"" ORG said.
Founder is GPE's ORDINAL biggest manufacturer of personal computers but ORG says he plans to focus his energies on the more interesting -- and lucrative -- software business.
""Selling personal computers is all about sales technique,"" ORG said. ""I get very excited about high-tech stuff, much more than business.""
Founder had snared PERCENT of GPE's publishing software market as of DATE, up from PERCENT at DATE, ORG said.
The company also boasted clients among NORP newspapers in GPE, GPE, GPE and LOC, he said.
Founder's office automation products were gaining popularity among NORP banks, government agencies and advertising firms, he said.
ORG has visited numerous companies abroad and said he was confident PERSON would crack the NORP market in DATE and be a strong player in the international market within DATE.
As part of ORG's drive to boost ORG's role overseas, the firm signed a pact DATE to develop publishing solutions based on products and technology of U.S.-based ORG listed Founder in GPE in DATE. ORG still holds PERCENT of the company.
Initially offered at HK$1.98 a share, PERSON's stock shot up to a high of HK$4.0 a share DATE though it has since fallen back. It ended at HK$3.15 on DATE.
ORG's market success has earned the slender, bespectacled entrepreneur comparisons at home to ORG's PERSON, a likeness ORG is happy to embrace.
But ORG insists similarities to the NORP software guru are limited.
""The difference is huge. PERSON is DATE, I am almost 60. I am past my creative peak,"" ORG said.
The entrepreneur notes other differences.
Like many NORP his age, ORG lived through the tumultuous DATE after the communist revolution in DATE.
That included the disastrous FAC  -- launched by Chairman PERSON in DATE to spur rapid development. Instead, it set GPE back for DATE and triggered famine that killed CARDINAL people.
PERSON was persecuted for listening to LANGUAGE radio broadcasts during EVENT, a decade of political turmoil that began in DATE to infuse the young communist state with renewed ideological vigour.
While the ORG mogul has amassed a personal fortune of MONEY, ORG receives a salary of MONEY a month and holds no shares in the firm he heads.
""I'm easily satisfied,"" he said.
($MONEY = MONEY) ($MONEY = HK$7.8)",0
"GPE and GPE on DATE concluded DATE of sensitive talks on a joint declaration aimed at finally healing the wounds of EVENT and the communist era that followed.
NORP Foreign Minister PERSON and his NORP counterpart PERSON signed a protocol which sends forward a text expressing regret for injustices on both sides, and setting up a fund for joint projects.
The declaration expresses GPE's sorrow for the DATE NORP occupation of the NORP lands and GPE's regret for NORP brutality in the post-war expulsion of ethnic NORP.
It marks GPE's final reconciliation with neighbours who fell under NORP occupation.
""We NORP regret the suffering and injustice caused to the NORP people by ORG (NORP) crimes, and we are recognising our responsibility,"" PERSON told diplomats and journalists after signing the protocol.
The text was approved by both governments DATE, and is to be signed by prime ministers in DATE, but politicians on both sides of the border are calling for changes before parliaments and presidents give it their final approval.
Both PERSON and PERSON insisted the text would not be reopened for negotiation.
NORP opponents of the text claim it fails to pay direct compensation to victims of NORP agression, while NORP groups are furious that it avoids paying restitution for GPE's expropriation of property of the so-called Sudeten NORP.
The declaration sets up a ORG with the NORP side paying in MONEY (MONEY), and the NORP paying CARDINAL of that.
The text says the fund is to finance ""projects of common interest"" including joint environmental, historical, and scientific ones, adding that ""the projects, wherever appropriate, should work mainly for the benefit of victims of (NORP) violence.""
""The declaration which we have agreed on means simply a clarification of understanding,"" Zieleniec said.
""This declaration is not a full stop after history. It only closes one sentence and CARDINAL paragraph. It also is a semi-colon and starts a discussion on the topic of joint projects focused on the future,"" he added.
The main political critic in GPE is the NORP-based ORG (ORG) which acts as mentor to ORG, survivors and relatives of the CARDINAL ethnic NORP who were collectively blamed for the NORP occupation and summarily driven out.
Leaders of Bavaria, where most ORG settled, had demanded changes in the text, but the NORP government has insisted it will negotiate only with GPE.
Chancellor PERSON is due to sign the declaration with NORP Prime Minister PERSON in DATE and the presidents of the CARDINAL countries will then address each other's parliaments to seal the matter.
A major NORP DATE newspaper, ORG, on DATE called the declaration a political sham.
""Perhaps one day there will be a NORP-Czech declaration which in its honesty and sincerity does provide a historic sign of reconciliation,"" the daily said in a commentary.
""The great majority of the NORP nation, above all the great majority of politicians, is convinced that the NORP state was not only politically clever but also morally and legally in the right when it got rid of the NORP minority."" ($1=1.5570 Mark)","The GPE telecoms market is one of the world's most competitive and any attempt to block a planned MONEY merger between NORP Telecom and GPE firm ORG on grounds of restricted trade will fail, analysts said.
The merger partly hinges on how open the GPE market is deemed to be because GPE rules bar foreign groups from buying PERCENT of a GPE firm unless their home market is deemed to be as competitive as that of GPE.
If it is approved, the merger between ORG and GPE's ORG announced on DATE to create ORG will represent the largest cross-border takeover in history and the world's ORDINAL biggest international telephone group.
GPE telecommunications market leader ORG, which stands to lose most from such a new heavyweight rival, has urged regulatory authorities to give the planned deal with ORG, the number CARDINAL GPE carrier, the ""scrutiny it deserves.""
But analysts said it was unrealistic for ORG, ORG arch-rival in international markets, to say that the NORP market was not competitive enough.
CARDINAL industry analyst, asked whether he thought the proposed deal would be cleared, said: ""Ultimately, I think it will be approved. But some tinkering may be required.""
""I don't think it's realistic for ORG to argue that the market in the GPE isn't open -- or that the market in the GPE is any better,"" said CARDINAL analyst who declined to be named.
GPE's market is more open than those of its NORP neighbours, most of which will only abolish state monopolies over telecoms services by DATE.
ORG cleared the ORG's acquisition of its initial PERCENT stake in ORG DATE.
The merger between ORG and ORG to form ORG will have to be approved by ORG, ORG and GPE's ORG.
Although ORG still controls PERCENT of all local GPE telephone connections, analysts said there were few barriers to foreign companies wanting to compete here.
AT&T is already planning to establish a foothold in the GPE market since the international partnership between ORG and ORG and ORG unit ORG ended DATE.
AT&T has also been tipped as likely to forge alliances with GPE cable companies in the local market as well as with mobile networks and new operators such as GPE-based ORG.
A spokeswoman for GPE telecoms regulator ORG said it was too early to say which obstacles stood in the way of ORG and ORG completing the proposed deal by DATE.",0
"GPE stocks added PERCENT in value on DATE, posting their DATE record close of DATE on rallying bank stocks and stronger bond and currency markets, analysts said.
""We got a new high on the NORP dollar. ORDINAL, we have a big increase in the NORP bonds. ORDINAL, we had a very strong ORG (Industrial Average),"" said PERSON, an institutional salesman with ORG
""As a result of all that, you have almost panic buying in NORP interest-sensitive stocks,"" PERSON said.
The dollar rallied to close at C$MONEY (US$MONEY), its strongest level since DATE. Currency traders said the unit was helped by bullish technical momentum and strong GPE interest in NORP bonds.
The NORP DATE benchmark bond jumped C$MONEY to close MONEY to yield PERCENT.
The ORG, GPE's largest equity market, gained CARDINAL points to close at CARDINAL. In GPE, the Dow Jones Industrial Average added CARDINAL points to end at CARDINAL.
Toronto traded a total of CARDINAL shares worth MONEY (MONEY).
Advancing issues outnumbered declines CARDINAL to CARDINAL with CARDINAL stocks unchanged.
""The banks are driving GPE to yet another new high,"" said ORG analyst PERSON. The financial services sector rose by PERCENT, leading CARDINAL of GPE's CARDINAL sub-indices higher.
Other strong groups included pipelines, conglomerates, consumer products and transports. The only weak sectors were golds and oils.
Among hot bank stocks, ORG added MONEYMONEY on CARDINAL shares.
ORG gained MONEYMONEY in heavy trading after it was upgraded to an outperform rating by GPE brokerage ORG.
GPE's largest publicly traded firm, ORG, rose C$MONEY to close at C$MONEY on over CARDINAL shares.
Growing interest in the Internet, the world-wide computer link-up, is attracting investors to telecommunications firms like ORG, ORG said.","ORG on DATE ordered CARDINAL ORG jetliners and CARDINAL ORG jets, and the government-owned airline reported dramatically improved profits of MONEY (MONEY) in DATE.
The profit estimate for DATE, disclosed in an ORG board statement, compared with a loss of MONEY (MONEY) DATE.
The improved results and ORG aim to break even in CARDINAL was underlined by the orders for CARDINAL ORG CARDINAL twinjets and options for CARDINAL more. The airline also ordered CARDINAL ORG, confirmed CARDINAL orders made in DATE and took options for CARDINAL.
ORG Chairman PERSON won vital support from NORP Prime Minister PERSON to buy from GPE-based ORG instead of ordering solely from its archrival ORG, the NORP consortium based in southwest GPE.
At list prices, which are rarely paid, the orders and options for the ORG PRODUCT version ordered could be worth MONEY. ORG would stand to gain MONEY.
List prices for the B777-CARDINAL range MONEY, while the ORG PRODUCT costs MONEY.
""In the reorganization of its fleet, ORG is obliged to buy ORG,"" Transport Minister PERSON told parliament.
""It is obliged to meet commitments made in DATE unless it accepts losing deposits and taking legal action, which risks being much more expensive than making this decision.""
The NORP airline had outstanding ORG orders worth MONEY and MONEY in options, PERSON said, adding that the airline had skilfully negotiated the latest order to respect the initial commitment.
The CARDINAL government representatives on the ORG board approved the ORG CARDINAL purchase ""not because they are the best or the most profitable but because they best meet the company's needs,"" PERSON said.
ORG had also accepted to be a launch customer for the planned A340-600, a ""stretched"" version of the A340, he said.
ORG hopes to build the CARDINAL-seater to smash ORG's monopoly in the large-capacity aircraft segment.
ORG said that, due to financial problems, it froze at DATE all aircraft orders, including the DATE ORG order, and opened talks with the CARDINAL plane makers.
ORG has since reorganized its fleet, restructured its network around a centralized ""hub"" at GPE PERSON airport and optimised aircraft use. It has over DATE increased the number of flying hours by PERCENT.
Pons welcomed ORG financial results, saying: ""The results are very encouraging.""",0
"NORP shares rallied on DATE following the coalition government's win in DATE ORG elections, but analysts said the rise was due more to a technical correction than to a change in investor sentiment.
ORG ORG index rose PERCENT at the bourse's DATE price fixing, spurred by gains to CARDINAL of the CARDINAL most-capitalised shares.
Brokers, however, were muted in their optimism that the rally would last DATE, saying the centre-right government's strong showing was expected and already built into the market DATE.
""Basically, this is a technically-led rally, I don't think it has a basis to do with ORG elections,"" said PERSON of the brokerage ORG.
Added another local trader: ""You're not seeing real volumes here you're just seeing prices being pushed up in anticipation of DATE, and without a doubt it is domestically driven. Foreigner investors are still on the sidelines.""
The minority coalition of Prime Minister PERSON took CARDINAL of CARDINAL seats in the newly-created upper house of parliament, following the ORDINAL round of voting, well ahead of the centre-left opposition NORP which took CARDINAL seats.
The ORG is a mostly advisory body with limited legislative powers, but the election was the ORDINAL test at the polls for ORG since his coalition lost its lower house majority in general elections in DATE.
But a thin turnout -- PERCENT of the electorate cast their ballots -- made it hard for the CARDINAL-party coalition government, which lost its lower house majority in DATE, to claim it had recaptured voters' hearts.
The GPE bourse has been hard hit in DATE -- falling PERCENT since DATE -- with most investors shying away from the a market characterised as opaque at best, and little regard for minority shareholder rights.
And analysts said that the election would probably not bring about a new push for changes to securities laws within the coalition, a condition that is necessary to lure back participants.
""I'm a little sceptical about the possibility that the ORG will help bring in changes,"" said ORG of Zivnostenska Banka.
""I think there will be a lot of pressure from market participants on the government to do something...but I have not seen any signs of a change in attitude of the coalition with respect to this topic.""
Analysts said that the market should take some heart however, in statements made by ORG following the vote when he said he saw no reason to call early elections for the lower house, which should keep the market stable in the near future.","PERSON withdrew from ORG on DATE because of a recurring wrist injury, while top seed PERSON crashed out to NORP Petr Korda 7-6 6-2.
PERSON, who tore a ligament in his right wrist at the EVENT championships DATE, was in pain after training and dropped out of his scheduled ORDINAL round match against NORP PERSON.
""PERSON said his wrist was too sore and that he would not be able to play TIME,"" ORG Supervisor PERSON said.
On DATE PERSON had held his wrist several times during his CARDINAL 6-4 victory over GPE's PERSON.
The world number CARDINAL tried to return to the circuit DATE but the injury forced him to retire from the ORDINAL round in GPE, lose in the ORDINAL round in GPE and withdraw from ORG DATE.
PERSON's absence has set back his bid for a record ORDINAL appearance at the season-ending ORG championship. He currently trails NORP PERSON for the ORDINAL and final spot.
PERSON, who has already qualified for the tour finale, lives and dies by the serve. 
But he was outgunned by PERSON who served CARDINAL aces and CARDINAL double fault, while PERSON managed CARDINAL aces along with CARDINAL double faults.
""He surprised me the way he played, he served well and returned very well. I double-faulted at CARDINAL-5 in the tie break which hurt,"" said PERSON.
""I didn't return well, I didn't take any chances on his ORDINAL serve. I didn't know whether to stay back or come in and when you're not sure what to do then it's no good.""
ORDINAL seed PERSON scraped through to the quarter-finals with a CARDINAL-6 5-7 7-5 victory over NORP qualifier PERSON.
Ferreira, ranked ORDINAL in the world, was stretched to the limit by PERSON. Their absorbing baseline battle ended in the ORDINAL game of the deciding set when PERSON's backhand let him down on CARDINAL successive occasions.",1
"While the GPE auto industry celebrated its ORDINAL birthday in DATE with higher sales and a new labor accord, it expects its DATE to feature a flat environment and tougher competition from foreign shores.
Forecasts for DATE project sales of total vehicles will be roughly the same as the CARDINAL seen for DATE. But that's not all that bad, industry executives say. It means the DATE upswing of car, sport/utilty and pickup truck sales could continue for yet DATE.  
""We see moderate inflation. We see a steady continuation of economic expansion in GPE,"" ORG Chairman PERSON said recently.
""We're looking for the car and truck industry to fall somewhere in the CARDINAL range for DATE, which we would describe as a pretty good year,"" he said.
But clouds loom on the horizon, namely from GPE's old nemisis -- GPE.
NORP automakers, which have introduced hot new car and sport/utility vehicles DATE, are set to unleash more new products in DATE.  
ORG will soon introduce its ORG compact sport/utility, and is scheduled to bring out new versions of its PRODUCT sedan and PERSON minivan.
ORG, building on the momentum of its new PRODUCT sedan, will unveil a front-wheel drive minivan called the PERSON DATE.
Meantime, the relatively weak value of the NORP yen promises to give cost-conscious Big Three executives headaches. A weaker yen makes it cheaper for NORP firms to produce vehicles in GPE and sell them in the GPE  
Since DATE, when the yen exchange value hit a high of CARDINAL to the dollar, the yen has weakened. The rate is now CARDINAL, meaning it takes more yen to buy MONEY.
PERSON, ORG top economist, sees the yen staying in the CARDINAL-115 range for DATE, then strengthen to MONEY per dollar.
""I think it will be a substantial issue in DATE,"" ORG said. ""The yen having weakened from CARDINAL to CARDINAL has given them tremendous profit potential in LOC.""
Adds PERSON's Trotman: ""It's going to be tough DATE because we have the weaker yen,"" PERSON said.  
ORG will try to reverse a slide in both sales and market share DATE as it introduces CARDINAL new cars and light trucks, including a new line of minivans.
ORG will also look to improve overall competitiveness with a new DATE contract with ORG that could allow it to shed CARDINAL workers. But that deal did not come cheaply. ORG endured several strikes through DATE that will cost it MONEY in DATE.
At ORG, cost-cutting will remain a top priority DATE.  
ORG, the GPE No. CARDINAL automaker, has scored big in the market place with its new PRODUCT pickup trucks and ORG full-size sport/utility.
But car sales have lagged, with ORG being forced to slap incentives on its redesigned PRODUCT to push them out of dealer showrooms. ORG, which replaced the head of its core automotive operations in DATE, will also lose CARDINAL from NORP and NORP operations.","ORG, still feeling the effects of a DATE NORP autoworker strike, told all of its CARDINAL GPE, GPE, assembly workers they will be idled for DATE, company and ORG officials said DATE.
The plant, which makes the ORG PRODUCT and Pontiac Sunfire small cars, has run out of transmissions supplied by a ORG parts plant in GPE.
Workers at another assembly plant, the GPE complex in GPE, GPE, could also be idled on DATE or DATE, industry sources said. The plant, which employs CARDINAL DATE ORG workers, makes GPE, FAC, DATE and PERSON, mid-sized cars.
""It's a situation we are looking at,"" said ORG spokesman PERSON, adding the automaker continues to monitor all of its vehicle and parts production operations.
As of DATE TIME ORG had told CARDINAL assembly and parts workers in GPE and GPE to stay home because of a shortage of parts from its NORP operations.
The GPE shutdown is the ORDINAL GPE plant where ORG has suspended operations completely since CARDINAL ORG began an escalating strike on DATE. The ORDINAL plant to go totally down was GPE/Hamtramck, which makes ORG.
The GPE plant has CARDINAL crews. The ORDINAL crew was told to report back DATE, the ORDINAL DATE and DATE, a ORG spokeswoman said.
Losing production of the mid-sized cars is not expected to have a big impact on sales, because the automaker had DATE supply of those vehicles on dealer lots as of DATE, according to ORG
But ORG could feel the impact of lost production of its popular PRODUCT and Sunfire cars. The ORG had a DATE supply and the Sunfire had DATE. The industry generally considers DATE supply to be ideal.
ORG and ORG negotiators reached agreement on a new DATE labour pact DATE. The deal was approved by ORG members DATE.
The NORP operations are being brought up in stages.",1
"Database software company ORG said DATE it filed a lawsuit against ORG accusing its bigger rival of stealing trade secrets by hiring away its employees.
Oracle hired CARDINAL ORG research and development employees from ORG's GPE, GPE, research and development centre. All CARDINAL workers quit DATE TIME, said ORG Chief Executive PERSON.
""This is a blatant effort by ORG,"" said PERSON. ""They're behind significantly technically. We're not going to let someone who's significantly behind just buy his way in.""
Oracle officials could not immediately be reached for comment.
The lawsuit, filed DATE in ORG in GPE, seeks unspecified damages. ORG on DATE also obtained a temporary injunction barring the former employees from giving trade secrets to ORG, ORG said.
ORG also charged PERSON, a former ORG product development vice president who left for ORG, with breach of contract. PERSON did not return phone calls to ORG's GPE facility.
Oracle stock dropped MONEY to $MONEY in TIME trading on ORG, where it was among the most actively traded shares. ORG lost $MONEY to $MONEY, also on Nasdaq.
ORG, based in GPE, GPE, and ORG, based QUANTITY to the north in GPE, GPE, both write sophisticated database programmes that store and retrieve huge amounts of information in corporate computer networks.
The companies for DATE have been fighting a marketing war touting their advances in database technology with each new release of their respective flagship products.
White said he believed ORG was interested in gaining ORG's expertise in writing software for so-called massively parallel computers -- top-of-the-line machines that can process huge amounts of transactions, such as bank ORG withdrawals, simultaneously.
The CARDINAL ORG employees who left for ORG were working on this type of product, PERSON said.
White, normally a publicity-shy executive, said he was livid about ORG's tactics and intended to make the lawsuit a political cause for preventing raids in high-technology industries.
White said he personally went to the home of NORP Chief Executive PERSON on DATE TIME to discuss the issue, but PERSON was in GPE. Both men live in the same small town in the hills of LOC.
""I'm doing this not only for ORG and for our shareholders but also for the industry,"" PERSON said. ""We can't let companies come in and throw big financial incentives and walk away with intellectual property we spent MONEY developing.""
In DATE, several software rivals in LOC have accused each other of trade secret theft by employee snatching.
In DATE, ORG accused a former employee of sending confidential electronic mail to new employer ORG.. DATE, ORG(. filed a similar charges against direct competitor ORG Corp.
The court has set a hearing in the ORG case for DATE.","Coupon clipping is coming to cyberspace.
ORG, a start-up company based in GPE, GPE, plans to unveil on DATE a credit card-based scheme to allow computer users to browse for and take advantage of bargains offered by a wide range of local, regional and national merchants.
Consumers will be able to qualify for automated discounts on groceries, dining out, movies, clothing, furniture and auto repairs, among other items.
The company said that using its special credit card eliminates the inconvenience and inefficency of paper-based promotional coupons delivered in newspapers or by direct mail. Industry figures show that PERCENT of paper coupons are actually redeemed.
ORG said the service dramatically enhances sales promotions by making it easier for consumers to find and use them, while making them cost-effective for merchants to offer.
""We are driving physical traffic into the merchants' stores,"" said PERSON, ORG's executive vice president of business development.
Advertising analysts said the new interactive promotion service could play a key role in transforming the industry, which generates MONEY a year, according to the media research firm of ORG.
""All Web promotions need to be attractive in the real world, not just the virtual world of cyberspace,"" said PERSON, a Web marketing analyst for ORG.
What differentiates SaveSmart from CARDINAL of other Internet-based commerce efforts is the linkage the service makes between computer users and actual businesses, she said.
The company's Web site -- www.savesmart.com -- offers an online database of merchant promotions personalized to fit the individual's interests.
Consumers can browse through promotional offerings and when they find a promotion they want, ""select"" it and reserve it. They can then redeem the promotion by presenting the ORG card at a merchant's store at the time of purchase.
SaveSmart targets what it describes as ""neighborhood trading areas"" of CARDINAL people.
The service will be launched DATE in the area around GPE, GPE, with service expanding to include the entire LOC by DATE.
In DATE, the company plans to roll the system out in CARDINAL additional GPE cities where Internet use is most heavily concentrated, including GPE, GPE, GPE D.C./Baltimore and GPE, just south of GPE.
The company said it plans a coordinated direct marketing campaign in each city where the service is introduced to sign up individual card members using mail and newspaper ads.
In addition, ORG said it has been successful in promoting the card as an employee benefit offered by large computer companies.
""Our target is to have CARDINAL of ORG members within each neighbourhood trading area,"" David said, adding that he expected to meet that goal in ORG's ORDINAL service areas ""within DATE, to be quite frank.""
To date, ORG said it has signed up CARDINAL merchants, representing a cross-section of locally available goods and services. ORG, PERSON's Pizza and Subway Sandwiches are participating. In addition, it has agreed to a deal with CARDINAL major movie studio, which it declined to name.
While the system would appear to be a threat to traditional promotional outlets like direct mail marketers and newspaper publishers, ORG said it is working with CARDINAL leading GPE household direct marketer and that there is nothing to preclude it from linking up with news publishers.
David said ORG would also make a logical fit with local telephone companies, but declined to say whether the company had reached any such agreements.
The company, which has CARDINAL employees,. was founded by executives from ORG and other LOC computer firms. ORG is a leading global supplier of merchant credit card transaction terminals.
ORG provides special ORG-built terminals to merchants using its credit-card system.
Company officials said ORG is designed to leave open the possibility that the system could be adopted by a major credit card company, so that consumers could use their normal credit card to conduct SaveSmart transactions.
The company has held talks with major credit card companies, but there are no deals to announce, officials said.
ORG has not disclosed its financial backers. Industry consultants familiar with the company said they include PERSON, founder of ORG, and also ORG, an Internet commerce company.
Other backers include members of GPE's PERSON family, who are ranked among the world's richest families, they said.",0
"GPE hefty cash reserves offer a comfortable cushion for children born in DATE, DATE the NORP colony returns to NORP sovereignty.
According to DATE's CARDINAL budget figures, thrifty GPE will confront its future as part of GPE with MONEY (MONEY) in total fiscal reserves.
That works out to MONEY for each man, woman and child in the territory.
By comparison, gross national debt in GPE of MONEY translates into a debt of US$MONEY for every child born there DATE.
But Financial Secretary PERSON resisted the temptation to hand down a give-away budget.
Instead of widely-anticipated tax cuts, ORG's budget speech for CARDINAL (DATE) stressed the need for continuity in DATE, and GPE ability to work with GPE to strike a balance.
""Fortunately, our healthy public finances and robust economic prospects have made the task of finding the right balance somewhat easier,"" ORG said.
But critics were not satisfied by the government's failure to spend more on the needy, particularly the elderly, while reporting a budget surplus of GPE billion DATE rising to CARDINAL in CARDINAL. ""I think the size of the surplus is utterly obscene and I'm very, very mad just on that,"" said PERSON, an independent NORP and outspoken critic of the government's social policy.
""We are probably the richest place on earth and to think we have CARDINAL poeple living from hand to mouth.
""I've got nothing against the tax reduction on wine, that's fine. But I think we should also do something for the elderly.""
Tsang cut duties on wine to PERCENT from PERCENT.
Experts warned that the gap between rich and poor in GPE is bound to widen as impoverished NORP immigrants flock to GPE seeking streets paved with gold.
In DATE, GPE increased the quota for mainland immigrants to CARDINAL a day from CARDINAL, mainly for family reunions.
""DATE, GPE could absorb impoverished migrants from the mainland in large numbers because it had an immense need for cheap labour,"" said PERSON, a director at ORG.
""DATE, that is no longer the case. Now our capacity to absorb those in the economy today is much less than it used to be. We don't have the unskilled jobs,"" he said.
GPE rapid transformation from international manufacturing and industrial hub into a services economy geared to GPE's economic expansion has caused the relocation of virtually its entire manufacturing base into southern GPE.
Tsang's highly conservative budget indicated growing awareness of the potential ramifications of mainland immigration, with a 150-percent boost to spending on benefits for newly-arrived mainland children.
""As for the children, we help them fit into our schools with special support services and remedial LANGUAGE programmes,"" he said. ""In CARDINAL we will spend a total of around HK$168 million on these children -- an increase of PERCENT in real terms of CARDINAL.""
($ = MONEY)","Personal computer makers DATE will simultaneously roll out flashy multimedia PCs designed around a new chip by ORG, a move that is expected to give the consumer sector of the industry a much-needed boost.
On DATE ORG will officially launch its P55C microprocessor, with its so-called MMX (multimedia extension) technology. A slew of companies will roll out consumer PCs, notebooks and desktops using the new chip, which offers much faster performance than earlier designs.  
""(The impact of MMX) will be significant in DATE,"" said PERSON, a ORG analyst. ""I should hope it helps -- the corporate world is strong and the retail world is very weak.""
He said there was currently nothing new and sexy to drive sales in the consumer market other than better price performance.
CompUSA Inc on DATE became the latest retailer to report disappointing sales of PCs during DATE, normally the industry's strongest.  
To be sure, analysts said that PC makers with a strong presence in the corporate market would not be hurt very much by the disappointing consumer sales.  
Consumer anticipation of the new PCs was CARDINAL reason that retailers were showing weaker-than-expected sales, as savvy computer buyers waited for next ""big thing"" to hit the market, analysts said.
In tandem with ORG's announcement, ORG , ORG, Gateway 2000 Inc, ORG, ORG, ORG and other companies are expected to unveil new high-end PCs, priced at MONEY.
On DATE, ORG shares jumped CARDINAL to CARDINAL after CARDINAL analysts made bullish comments about the company.  
""It's a tremendous kickoff to DATE,"" said PERSON, a vice president of ORG's PERSON division. ""We are so excited about the new MMX processor that we redesigned the entire line of PERSON from the ground up. Customers are going to get a pretty dazzling experience.""
ORG declined to give any product specifics, but he said that ORG will launch its GPE consumer PCs with MMX at about the same time as ORG's announcement.
""It should provide an added boost to the demand for the new generation of PCs,"" ORG added. ""There was no major industry event in DATE. DATE you have a new processor.""",0
"ORG (ORG) extolled the virtues of ""self help"" on DATE as it reported its best-ever DATE earnings despite pressure on profit margins in some key businesses.
DATE net earnings jumped by PERCENT to MONEY (MONEY), towards the top end of forecasts, while in DATE they were up PERCENT to a record MONEY.
ORG said strong oil prices, which have recently been at their highest levels since the DATE EVENT at MONEY a barrel, boosted earnings by MONEY in DATE.
But it added that the gains were more than offset by weaker profit margins in refining, marketing and chemicals, which accounted for PERCENT of group net earnings.
Group chief executive PERSON said ORG was enjoying the benefits of a raft of cost-cutting and efficiency drives, which were adding MONEY to profit DATE.
""What we see here has not come about as a result of high oil prices, it has come about as a result of self help,"" he said.
The market took the results calmly, with ORG shares adding MONEY to close at MONEY after touching a high of PRODUCT. However, trading in ORG shares on the options market was active.
""People are still speculating on a fairly sharp rise in ORG shares,"" CARDINAL options specialist said.
""In a sense ORG have spoilt us,"" said ORG analyst PERSON.
""We've got used to them coming out with a good set of numbers at the top of the range, and unfortunately with (rival) Shell it is the other way around.""
ORG's results contrasted with disappointment DATE at DATE figures from rival ORG, where profits fell on the back of low refining margins and a weak chemicals market.
ORG also emphasised the relative stability in its earnings, partly as a result of the vigorous cost-cutting at its exploration and production activities.
""They are very much on the ball and very focused. They have achieved a lot of efficiency improvements and delivered a lot of savings,"" said GPE.
ORG was upbeat about near term propsects, with oil demand expected to remain strong into DATE. But it said its long-term view that the oil price would settle back into a range of MONEY a barrel had not changed. ""The question is how we get from here to there,"" said Browne.
ORG analyst PERSON said the oil price was always the greatest uncertainty, but added that lower prices tended to mean margins could improve in downstream activities like chemicals and refining.
($MONEY Pound)","GPE's ban on poultry imports from CARDINAL GPE states, aimed at preventing a deadly epidemic, is unlikely to be mired in the politics of GPE's bid to join ORG, a GPE official said on DATE.
""They (NORP authorities) are very sensitive to any sort of disease profile,"" PERSON, representative in GPE and GPE for the GPE state agriculture department, told ORG.
GPE's ORG and ORG said the ban on poultry products from GPE and GPE went into effect on DATE.
Official news reports said the ban was slapped on poultry products from the CARDINAL rural states because CARDINAL cases of a deadly poultry flu were discovered DATE.
GPE's ORG described this virus, known as viscerotropic velogenic GPE disease, or ORG, as an ""extremely harmful contagious epidemic disease"". PERSON agreed. ""It's a very, very dangerous disease -- the most feared of poultry diseases,"" he said. ""The symptoms are like influenza, and once CARDINAL bird gets the disease, all the poultry will die.""
But ORG said he had not heard of any recent cases of ORG in GPE.
The GPE embassy in GPE issued a statement confirming the NORP ban but would not elaborate. Other GPE agricultural officials were not immediately available for comment.
Some GPE industry sources suggested the ban could be connected with GPE's tit-for-tat trade disputes with GPE and timed to coincide with the ORDINAL ministerial meeting of the CARDINAL-member ORG in GPE.
But ORG said this was unlikely.
The last major outbreak of ORG in GPE occurred in GPE in DATE and led to the eradication of the state's entire poultry population, he said.
The poultry industries of GPE and GPE were far down on the list of top GPE producers and exporters, he said.
""My estimate is that GPE and GPE account for PERCENT of GPE poultry exports to GPE,"" he said.
GPE is the country's biggest poultry producer and home of industry giant ORG
A source at GPE's GPE office said ORG was known to exist in GPE, but this could not be confirmed.
GPE exports around MONEY of poultry and poultry products DATE to GPE, its biggest market after GPE.
GPE reported CARDINAL case of ORG, found in a wild cormorant, in DATE, a NORP embassy official in GPE said.
Under existing protocols between GPE and GPE, NORP poultry exports to GPE did not cease, and neither volume nor value was affected, the embassy source said.
But all NORP poultry must be now certified as not coming from the area where the dead bird was found, he said.
The current NORP ban comes DATE after the resolution of another dispute that saw GPE ban all GPE poultry imports because of fears they carried highly pathogenic avian influenza or LAW.
GPE officials said NORP authorities had mistaken WORK_OF_ART for the less-virulent avian influenza, or ORG. GPE flew in experts to meet with NORP officials.
That ban was lifted before being implemented.
-- GPE (CARDINAL) 2843 6470",0
"ORG DATE launched electronic commerce software and a wide array of partners aimed at enabling consumers and businesses to buy and sell products over the World Wide Web.
At the core of the announcement is ORG's PERSON, software which will enable businesses to set up electronic storefronts on the Internet, and a plan to build a new channel of service providers to help businesses do this.
Analysts said the strategy was similar to that successfully used by ORG to sell networking software.
""We believe there will be explosive growth (in use of the Web for shopping),"" ORG Chairman and Chief Executive PERSON said at a news conference unveiling the company's electronic commerce strategy.
ORG also revealed CARDINAL companies that are in the process of building Merchant Server sites and PERSON, general manager of electronic commerce services at ORG, said he expects CARDINAL sites using the software by DATE.
The product competes with an array of prior offerings, including those of ORG and Internet startup Open Market, as well as ORG and ORG
As part of the deal, ORG and ORG brought together financial institutions and payment processors to provide a secure Internet retailing and payment system.
The financial institutions involved include ORG, ORGamp; Co, ORG's ORG, ORG , ORG and ORG.
Much of the technology was made available to partners for testing in DATE and was developed by ORG, which ORG acquired in DATE, company officials said.
In addition to the infrastructure partners, PERSON said a key priority was ""trying to get this new channel built where we see a range of hosting service providers who are really going to be the ones who lease the CARDINAL lines and run the servers on behalf of merchants who are not technologists.""
CARDINAL such company, GPE, Fl.-based ORG, has been in business DATE and already has some 50 customer Web sites in operation, including CARDINAL using the Merchant Server, according to PERSON, president of ORG.
PERSON, a specialist GPE photographer, said he had chosen to go through a networking service and support firm using the Merchant Server product to start up a new gallery to sell original contemporary artwork on the Web.
The site was set up in DATE, he said, and PERSON said the cost of getting the cyberspace gallery under way would amount to MONEY.
But analysts said the market still may take a long time to develop into the multi-billion dollar market some Internet enthusiasts project.
""As PERSON said clearly this is a beginning market,"" said PERSON, an analyst at ORG.
Gates cited ORG and industry estimates that the number of consumers on the World Wide Web would more than triple DATE, to CARDINAL.
The number of businesses on the Web is projected to grow QUANTITY by DATE to CARDINAL from CARDINAL currently, ORG said.
PERSON, who publishes the ORG newsletter on the Internet, said estimates the minimum price for a decent store using the software is $MONEY.
""The point of it is that for a lot of people setting up a virtual store it will be also as expensive to create and maintain as a real store,"" he said. ""You're not going to use this technology to take advantage of it for MONEY.""","Softbank Chief Executive Officer PERSON said the company will focus over DATE or CARDINAL on growing its businesses organically and on preparing for the launch of JSkyB.  
""For DATE -- a year or CARDINAL -- we will focus more on growing what we have already acquired and also prepare for PERSON launch. That's my focus,"" he told ORG in an interview at the ORG industry trade show here.
Son also said the company has completed commitments to CARDINAL Internet startup companies from its venture capital fund which totalled MONEY, including MONEY from investment partners and the remainder from ORG itself.
Softbank in DATE launched a CARDINAL joint venture with PERSON ORG in a digital satellite system known as ORG, or JSkyB. The CARDINAL in DATE acquired PERCENT of ORG.  
Through a string of bold investments, GPE has become the world's largest computer-related magazine and book publisher and the largest producer of high tech exhibitions and trade shows. It is also GPE's largest computer software, peripherals and systems distributor.
Son's comments mark at least a temporary halt to a buying spree which culminated in the purchase in DATE of an PERCENT stake in ORG, a leading supplier of memory modules, for cash and stock worth MONEY.
Within DATE, ORG closed on the MONEY acquisition of ORG, and DATE it spent MONEY for ORG, whose trade show portfolio includes ORG, the largest GPE trade show.
""After the launch of PERSON, and after we have good enough management infrastructure for the synergy that we create in the GPE, then we would do a lot more things,"" he said of the prospects for further major acquisitions.
On the venture funding front, Son said the CARDINAL venture investments his company has led over DATE put it at the top ranks of recent Internet venture investment.  
""We became very quickly an important player in the venture capital market,"" he told ORG, adding that GPE was able to rely on assistance from its various operating firms.
""They helped in identifying the startup companies on the Internet, and identifying which one is the good one and the winning horses,"" he said.
Furthermore he said startup companies, such as the branded Internet media company Yahoo! Inc, have been able to benefit operationally from GPE as well as financially.
Softbank took a PERCENT stake in Yahoo! and established Yahoo! GPE, in which GPE retained a PERCENT stake. This is just one of a series of rapid moves by Yahoo! which has extended its brand from its original role as a search engine to find information on the Internet.
""Yahoo GPE was established in DATE and started service DATE,"" Son said. ""DATE, from scratch, and it has been profitable from DATE of operations and DATE it is profitable.""
In the Internet area, where many startups produce steady streams of red ink as they attempt to grow their business as rapidly as possible, Son said he considers the joint venture's profits to be somewhat of a record-breaking achievement.  
Yahoo Inc went public on the ORG market in DATE.
A little more than a dozen of the investments by the MONEY venture fund have yet to be completed, he said, and GPE is likely to form an additional investment fund DATE. Son, however, declined to elaborate.
Internet service companies, such as Yahoo!, and Internet content companies are likely to be the smallest but fastest growing opportunities for investment, he added.
Softbank recently reported ORDINAL half pre-tax profit for DATE rose PERCENT to MONEY as revenue grew PERCENT to MONEY, against a pre-tax profit of MONEY on MONEY of revenues for DATE.
Son spoke after he and other senior ORG executives made a presentation to media and industry analysts at a briefing at the annual Comdex show.
-- sam.perry@reuters.com, ORG +1415 CARDINAL 5400",1
"ORG subsidiary ORG will overhaul palmoil plantations and CARDINAL factories recently bought from GPE, a senior PERSON official said.
""The strategic issue for us was to win vertical control of raw supplies as there was a danger of others exporting for overseas revenue,"" group vice-president PERSON told ORG in an interview.
The supplies from the plantations and factories, in which PERSON now holds a PERCENT stake, total QUANTITY of annual oil production, he added.
Ageing plantations on QUANTITY would be overhauled as some trees were nearing the end of their DATE productive life and needed replacing at a rate of PERCENT a year.
""In some plantations trees have an average age of 22 years so there will have to be extensive replanting,"" PERSON said.
CARDINAL crop processing factories would also be refurbished over DATE.
Palmoil prices (CIF LOC) averaged MONEY a tonne in DATE, $MONEY in DATE, $MONEY in DATE and $MONEY in DATE, he said.
""Export prices are now MONEY a tonne but we think they will stabilise at around $MONEY a tonne in DATE,"" said PERSON.
PERSON's tender for leading stakes in the CARDINAL state-owned ORG blocks were accepted by GPE and signed on DATE.
PERSON linked up with competitor SIFCA to complete the purchase along with the NORP firm ORG for its technical expertise in plantation management.
""Output will be used for domestic production of cooking oil and soaps with only consumer goods and refined oil for export,"" he said. Sites would sell palmoil to PERSON at going-rate transfer prices and operate largely as separate entities.
Other Palmindustrie capacity of QUANTITY was taken by the NORP firm ORG with Ivorian SAFIPAR taking the remaining QUANTITY.
PERSON, whose main oil-based domestic brands are ORG cooking oil and ORG, bought CARDINAL sites sold as CARDINAL large blocks. Shareholders paid a total MONEY CFA and took on MONEY in staggered government debt.
Palmoil processors are also seen as potential cocoa grinders but PERSON said PERSON would only do so from DATE to help with overheads during slack periods.
PERSON donor-sponsored privatisation programme saw CARDINAL companies sold DATE and another 10 in DATE.
PERSON's main PERCENT shareholding is followed by GPE (PERCENT), PERSON (PERCENT), village farmers (PERCENT), ORG (PERCENT) and employees (PERCENT).
-- Abidjan newsroom +225 CARDINAL","GPE CARDINAL coffee crop is set to return to the CARDINAL-tonne levels seen before farmers neglected their trees in DATE, exporters and up-country buyers say.
Coffee output in CARDINAL was QUANTITY and experts see the increase as part of a new good-moderate-weak cycle that tends to dominate the sector.
""It is a very good crop although there are some quality problems,"" CARDINAL PERSON exporter told ORG.
""I think the crop will be QUANTITY,"" said a large buyer visited in the coffee-rich areas around Man and Vavoua. ""Exporters are not yet buying and the world price is still very low.""
Prime Minister PERSON DATE said the crop would exceed QUANTITY after a MONEY rehabilitation plan, favourable weather and better maintenance.
The government set a higher CARDINAL price to encourage production, but reference farmgate coffee prices were set lower DATE to lessen government subsidisation of the sector.
GPE slashed its CARDINAL farmgate price to CARDINAL CFA from CARDINAL CFA for unhulled green coffee cherries, with lower prices for hulled cherries.
Most buyers and exporters visited by ORG in a tour DATE have not yet seen a full CARDINAL marketing list detailing their commissions, but they said they would have to accept rates shown in a copy obtained by ORG.
""Buyers will lose out on commission,"" said CARDINAL. Exporters said operations would go ahead in spite of some objections.
The new marketing season opened on DATE, delayed from DATE.
Coffee marketing would get underway from DATE as usual after cocoa harvests tail off, GPE exporters said.
""Most coffee is now held in village stores and the weather means drying and sorting will take more time,"" said CARDINAL buyer.
Good yields meant some farmers had stripped ripe and unripe beans and mixed them together, they said.
Large amounts of coffee, both green and ripe red cherries, were DATE seen by ORG drying, some mixed together, along roadsides and in bush clearings, particularly in the north. Green cherries are bought at discounted prices.
Well-managed plantations visited were harvesting once a month but many trees around villages showed signs of unselective stripping, buyers said.
""Farmers take less care when quantities rise so we will have to consider the price,"" said a ORG buyer. ""Exporters have not put in orders yet so we are not buying.""
CARDINAL Abidjan-based exporter who went up-country DATE also said quality was down. ""It is pretty bad in some places but the quantities are excellent,"" he said.
CARDINAL crop analyst recently forecast CARDINAL production at QUANTITY but most buyers and exporters said the figure was too low. Some up-country buyers said output could even be QUANTITY.
CARDINAL expected QUANTITY DATE but most estimates put CARDINAL yields at CARDINAL higher than DATE, matching expected percentage drops in cocoa output.
A mild dry season favouring flowering and the natural production cycle of coffee trees had lifted the crop from a relatively poor QUANTITY range in CARDINAL, said PERSON, a plantation manager in GPE.
""I think QUANTITY is possible as farms are being well maintained,"" he said. ""We are seeing QUANTITY of coffee per hectare each harvest instead of CARDINAL.""
-- GPE newsroom +225 CARDINAL",1
"GPE's leading discount food retailer ORG on DATE said it was closing CARDINAL shops as part a radical shake-up of its struggling discount chain, which unions said could mean CARDINAL job losses.
The group, squeezed between mainstream food superstores and limited range discounters, also reported a PERCENT drop in DATE profits to MONEY (MONEY), before a provision of CARDINAL to pay for the rationalisation.
Sales rose PERCENT to MONEY (MONEY) in DATE and the company maintained its final dividend at CARDINAL, making an unchanged total of DATE.
Chief executive PERSON said the reorganisation was designed to fend off fierce competition from superstores and continental discount groups, which have robbed PERSON of many of its traditional customers.
The restructuring pleased investors and PERSON shares rose to peak MONEY higher at CARDINAL before settling MONEY bit lower.
A review of the company's operations by outside consultants, initiated in DATE, showed a need to improve its existing CARDINAL stores and invest in staff and technology.
PERSON said it planned to spend MONEY on its ORG programme in DATE and CARDINAL DATE after as the new concept is rolled out into its stores.
Finance director PERSON estimated the store closures would involve CARDINAL job losses, as PERCENT of the staff would be redeployed in PERSON remaining 900 stores.
There are plans to launch a PERSON own-label range to take on the superstores, improve contol over its fresh foods and tighten control of its pricing and quality. The group would have to invest heavily in technology, where it was DATE behind the competition.
""Research showed us that what our customers really like is discount values,"" Pretty said. ""What they did not like was our range which was not good enough in some areas and did not match superstores.""
Bowler acknowledged the group had failed to invest enough in upgrading the fabric of its existing stores in DATE. The new-style stores will be rolled out over DATE at a cost of MONEY.
The chief executive told a news conference the company would introduce a new range of chilled foods, health and beauty products and over-the-counter medicines.
But he said the group was not trying to move away from its roots.
""We are not moving away from discounting prices,"" he said. ""We are not trying to be a mini-version of someone else, we want to be ourselves.""
Re-shaping the group was ""an enormous task,"" he said, which would have to be undertaken in stages in order to minimise disruption.
The CARDINAL stores would be closed progressively DATE. ($MONEY Pound)","ORG whisky maker ORG posted a PERCENT fall in DATE profits on DATE, saying sales of its brand leader PERSON blend fell in GPE and the home market remained tough.
""The GPE continues to be a very competitive market. However there are indications that prices are moving up with more emphasis being given to brand building activities,"" it said.
Pretax profits fell to MONEY (MONEY) in DATE down PERCENT. Before reorganisation costs, profits were flat at MONEY, below the market forecast range of MONEY. ORG's shares fell CARDINAL to CARDINAL in early trade.
The NORP market for ORG whisky fell by PERCENT, despite a cut in excise duty in the DATE Budget, while sales of WORK_OF_ART fell by PERCENT.
""These results illustrate the problem GPE has got; the fact it still makes PERCENT of its profits out of PERSON sales in the GPE where the market continues to be very competitive,"" said BZW analyst PERSON.
In the GPE and GPE off trade, which represents PERCENT of the home market, the Famous Grouse market share rose PERCENT to PERCENT.
However, sales in the on-trade or in pubs and restaurants remained tough and WORK_OF_ART share fell by CARDINAL percentage point. But overall market share for WORK_OF_ART rose slightly to PERCENT.
Overall export sales of WORK_OF_ART were up PERCENT and sales in LOC rose PERCENT, with strong performances in GPE, GPE and the GPE, although conditions were more difficult in LOC.
Single malt whiskies continued to grow both at home and overseas with PERSON's key brands, LOC from Orkney and Bunnahabhain from PERSON, up PERCENT on a global basis.
Profits from associate ORGamp; Baxter fell PERCENT to QUANTITY mainly because of increased advertising behind the ORG brand.
Sales of new and mature whiskies to blenders have grown considerably with new filling orders for DATE up by PERCENT.
The interest charge rose by QUANTITY mainly due to the cost of carrying a PERCENT shareholding in distiller ORG from DATE.
PERSON and GPE, GPE's leading PERSON distiller, already owned PERCENT of ORG but decided in DATE to pay MONEY to take control of PERCENT.
GPE argues that the ORG malt whisky brand has substantial growth potential.
PERSON reported an exceptional charge of MONEY in DATE to cover reorganisation costs at ORG and ORG bid defence costs. ($MONEY ORG)",1
"ORG suffered CARDINAL of its biggest DATE falls on DATE as foreign interest waned because of a lack of market transparency.
CARDINAL of the ORG's CARDINAL largest issues fell sharply in active trading, pulling the ORG RPIX index down PERCENT to CARDINAL.
Long-criticised for its lack of transparency and regulation, analysts say DATE's loss was yet another sign that investors, especially foreigners, are pulling out of the market having grown tired of failed promises of reform.
""There's just a total lack of interest in this market,"" said PERSON of ORG.
""Fundamentally, companies look pretty cheap, but the lack of foreign interest and PRODUCT fearing the possibility of a devaluation and looking abroad (mean) you don't have that much buying interest.""
Under GPE Securities Act, which was devised to handle the logistics of the government's massive voucher privatisation scheme, ORG) is bound by law to provide services such as moving securities to and from client accounts.
Since the ORG does not reveal any details of transactions, including prices and volumes, brokers have taken to the SCP because of its privacy and faster settlement process.
The problems have restrained the ORG which sees on average MONEY of stock changing hands DATE, compared with MONEY turnover in GPE, where the market has a capitalisation of MONEY.
""Unambiguously, a notable portion of foreign investors are not satisified with the current state of the NORP capital market,"" said PERSON of Patria Finance.
In DATE, parliament approved a series of market reforms to compel companies and fund managers to be more open and accountable. A key element tackles the chronic problem of slow and irregular reporting of company earnings and actions.
The ORG has taken several steps to brings more transparency to the market, but some analysts say that the process is taking too long.
In DATE, ORG pledged to improve the state of the market, stressing in particular the need for the early creation of an independent watchdog.
But many analysts were disappointed by the lack of strong enforcement requirements, as market supervision is still kept in the hands of a small, under-resourced ORG department.
And some question whether there is even the political will here to change the market, or if a few regulations will be enough to change the attitude of many market participants.
""The problem isn't only with market regulations. I don't feel the political will which can bring change and prevent frauds.,"" PERSON, manager of ORG was quoted in the DATE FAC as saying on DATE.","EVENT champion and ORDINAL seed PERSON crashed out of the ORDINAL round of ORG on DATE, losing CARDINAL 6-3 to GPE's PERSON.
ORDINAL seed PERSON also had a rough ride but eventually overcame GPE's FAC 7-5 4-6 6-3 while ORDINAL seed PERSON of GPE cruised past NORP PERSON 7-6 6-2.
GPE, whose parents emigrated from then GPE to the GPE when he was a child, struggled to bring his booming serve under control from the outset, failing to mount a sustained attack against PERSON, ranked number CARDINAL in the world.
""I'm not very happy with the way I played, and PERSON returned my serve very well, and my ORDINAL serve was off,"" said GPE who served up CARDINAL aces and CARDINAL double faults.
Former EVENT champion PERSON found the going much easier, taking a close ORDINAL set before overpowering world number CARDINAL PERSON in the ORDINAL set.
After crashing out of the ORDINAL round in each of his last CARDINAL tournaments, world number CARDINAL Ferreira looked shaky at times, committing a rash of unforced errors that left the match even after CARDINAL sets.
But another early exit for the NORP would have seriously jeopardised his chances of qualifying for ORG, GPE at DATE.
""It's always a tough match against Renzo, he has a game that is suited well against mine,"" said PERSON, who currently holds the ORDINAL and final spot for Hanover with PERSON, scheduled to play in PERSON on DATE, just CARDINAL points behind.
ORDINAL seed PERSON easily disposed of ORG's PERSON CARDINAL-3 6-4 and ORDINAL seed PERSON fought back in the last set to defeat his NORP PERSON team mate PERSON CARDINAL-2 3-6 7-5.",1
"ORG, the nation's ORDINAL-largest long distance provider, said DATE it was in talks with ORG on a possible merger of the CARDINAL companies.
NORP Telecom already holds a PERCENT stake in ORG.
An ORG spokesman told ORG the company expected the talks to be concluded DATE, although he noted that there were no guarantees an agreement would be reached.
""We have entered into negotations with ORG on a possible business combination,"" the spokesman said, reading from a prepared statement.
Industry analysts applauded the talks, saying a combination of the CARDINAL companies would be a good fit in the super-competitive GPE long distance phone industry, where ORG and No. CARDINAL ORG have been battling an ailing ORG
""This is an extremely competitive business, and horizontal mergers like this make sense,"" said PERSON, chief economist at ORG. ""The economies of scale in this case could be considerable, and the leverage in terms of potential profits is high ... It would be good purchase.""
ORG's stock was halted for trading at $MONEY, up $MONEY on ORG, although it jumped MONEY after ORG television reported that the companies were talking. The exchange said it would investigate those trades.
""It would be a good fit for NORP Telecom and provide a major foothold in this country,"" said PERSON, managing director of ORG and Catherwood.
""It wouldn't take away from the long-distance battle. Before that's over, there will be losers and winners,"" he added.
ORG said PERSON, ORG's investment bankers, and ORG were working on the deal, which it said could be worth upward of MONEY.
""It makes sense,"" said PERSON, senior vice president and manager of equity trading at ORG. ""I think ORG is a great company.  The synergy is there. BT made a great initial investment.""","A festive calm settled over GPE on DATE as people prepared to welcome DATE, the territory's DATE celebration under NORP rule.
With the clock ticking towards transition to NORP sovereignty at DATE, GPE people took time out from hectic schedules for the NORP equivalent of a Western DATE or EVENT.
TIME shoppers dashed through malls, record numbers of travellers flowed across the border to visit relatives in GPE and children threw empty red ""lai see"" money pockets at each other on GPE harbour's WORK_OF_ART.
""Kung Hei Fat Choi, may you be rich and make more money,"" said Ng Chak Kwong. ""Everybody wants this to be DATE. Too many people worry about everything.""
But the cheerful greeting cards, office towers ablaze with lights, strings of red firecrackers and little orange trees offered few clues to GPE real state of mind on EVENT. This DATE's festivities were set against a backdrop of rising political tension after GPE's recent pledge to roll back some civil liberties laws following the handover, plans that sparked an outcry both at home and abroad.
ORG, the territory's largest party, collected CARDINAL signatures opposing the plans while the international community lodged official protests with GPE.
Chief Executive-designate PERSON, the man who will take over from colonial Governor PERSON after the handover, DATE defended the proposed legal changes as misunderstood, but few were convinced.
Some of the families gathering for traditional EVENT banquets on DATE TIME said they would watch a televised annual address by PERSON, even though the NORP influence is already considered virtually irrelevant.
DATE address by a NORP colonial governor could provide PERSON with an ideal opportunity to lambast old foes in GPE.
""What he says has no effect any more,"" said shopper PERSON So. ""What he says, what he did, what he's going to do, the NORP government will not accept. It doesn't matter whether he's right or wrong.""
Most GPE people seemed determined to ignore politics during DATE. DATE of parades and fairs were planned, and spectacular fireworks would light up the sky on DATE.
According to NORP astrologers, DATE offered GPE plenty of promise but obstacles as well.
Unlike Western astrology, where DATE are grouped into separate star signs, NORP astrology hinges on DATE of birth.
That could mean bad news for GPE, who was born in DATE, DATE.
According to the astrologer at LOC newspaper, PERSON faced a difficult year marked by envy and accident and is advised to seek compromise.
""He is likely to be caught between GPE people and the NORP government and may be the object of envy by mainland officials,"" warned astrologer PERSON.
Patten, born under the sign of the PRODUCT in DATE, was warned about the emergence of a rival in DATE and cautioned to draw a line between private and public involvements.
""He will need to overcome obstacles that can stand in the way of the glorious withdrawal,"" PERSON said.",0
"NORP Foreign Secretary PERSON on DATE flies earlier than expected to GPE where he can expect a tough reception on what may be his last visit before it is handed back to GPE in DATE.
Legislators in the territory are gearing up to grill Rifkind on DATE on the fate of GPE freedoms and human rights laws after the NORP colony of DATE reverts to NORP rule at DATE.
Rifkind, who was in GPE DATE for a meeting of LOC meeting, is arriving in GPE's last major NORP outpost on a shortened visit before leaving for GPE for a key parliamentary vote.
A spokesman for ORG mission in GPE said PERSON's timetable in the colony had been moved forward and he was expected to leave on DATE TIME.
On DATE, PERSON was expected to meet GPE future leader, PERSON, Governor PERSON's team of executive councillors, legislators and other senior officials.
If he had kept to his orginal schedule, Rifkind would have missed an important parliamentary vote on DATE called by the opposition ORG over ORG Minister PERSON's handling of the ""mad cow"" disease.
But PERSON's visit to GPE, although short, will be far from easy.
DATE before the handover, GPE is beset with worries over GPE's plans to replace its elected chamber on DATE with a provisional legislature, which was formed DATE under close NORP supervision.
The freewheeling territory of CARDINAL people is also concerned about threats to cut back its civil liberties.
""We want Rifkind to clarify on whether there would be CARDINAL legislatures operating before DATE,"" said PERSON, deputy head of ORG, GPE largest.
""I think he should make a strong statement on it, because...it is the NORP and GPE government running the place before DATE. If there are CARDINAL legislatures running at the same time...it will be very confusing,"" PERSON said.
ORG has threatened to sue the provisional chamber should it try to enact laws or operate on GPE soil before DATE.
GPE has also said the move is illegal under a DATE NORP handover treaty on GPE and has challenged GPE to let the world court rule on the legality of the body.
A pro-China GPE newspaper on DATE slammed the idea as ridiculous.
""Rifkind recommends letting the world court arbitrate on the provisional legislature. That is ridiculous and laughable,"" the Wen Hui Pao newspaper said.
It said whatever happened in GPE after DATE was a matter entirely for GPE to handle.","NORP parliamentarians urged GPE people on DATE to ""speak up and not shut up"" in the face of growing fears that GPE will roll back democratic freedoms when the territory reverts to GPE.
They also said they will recommend to ORG to urge GPE to contest GPE's decision to replace the territory's elected legislature with an appointed interim chamber at the handover at DATE.
""Our message to GPE is don't shut up, speak up,"" said PERSON, a member of ORG, at a news conference during a DATE visit.
Citing a NORP maxim, PERSON said, ""What is required for evil to triumph is for good people to remain silent"", adding that democracy was now the way of the world, while totalitarianism and dictatorship was evil.
PERSON and CARDINAL other members of ORG (MEPs) met GPE future leader PERSON, prominent lawyers and members of GPE current elected legislature, and will meet colonial Governor PERSON.
GPE, a NORP colony of DATE, reverts to GPE from DATE, and fears are mounting among its CARDINAL people that its democratic freedoms and rights, introduced by GPE in DATE of its rule, will be snuffed out.
Chief amongst GPE worries is a GPE-crafted provisional legislature which will replace the elected chamber, and GPE's plan to amend or strike down a string of laws protecting civil liberties and democracy.
Tung, who replaces PERSON on DATE, has backed the proposed changes, arguing that they were mere technicalities and necessary to preserve social order.
The MEPs, who criticised GPE for being too late in bringing democracy and civil rights to GPE, also said GPE should contest the legality of the shadow legislature in ORG (ORG) in GPE.
""We believe GPE would have a good case...for going to ORG, even ORG and asking for the matter to be referred to the ORG,"" PERSON said.
""We believe that the abolition of the elected ORG is an illegal act, and we believe it should be challenged in international law,"" he said.
GPE has said its hands are tied on the matter as GPE has refused to refer the issue to the world court. The MEPs however thought the matter should be pursued.
""There is nothing to stop GPE taking it to ORG...we would like to see the panoply of legal instruments in due process in law be used, even if in the end the process is frustrated,"" PERSON said.
CARDINAL activists staged a noisy protest at the office of future leader PERSON on DATE TIME, demanding an apology for his support of GPE's plans.
The group, a coalition of CARDINAL grassroot organisations which called itself GPE for ORG, chanted slogans and called on PERSON to relate the views of GPE people to NORP leaders.
""We strongly request the future chief executive to apologise to all GPE people and to honestly reflect their views to the NORP government and to do his duty by defending human rights, freedom and the rule of law,"" the group said in a letter later given to GPE's office employees.",1
"The GPE construction industry expects to get the cold shoulder from the Chancellor of the Exchequer (ORG DATE, with industry leaders predicting continued cutbacks in infrastructure spending in DATE budget.
Building industry leaders say they expect no more than a few crumbs from Chancellor PERSON DATE and are forecasting even more pressure on roads spending, with some rumours that ORG will take a further slice off the road budget DATE.
""If ever there was going to be a budget with severe cuts, it's this one, which needs to make room for pre-election tax cuts,"" said PERSON, chief executive of industry lobby group ORG.
As far as the housing market goes, builders are unanimous in their call for no sharp shocks to disturb the market's equilibrium. That means steady inflation and interest rates, plus no more reduction in mortgage interest tax relief, groups like ORG say.
On the spending side, ORG, embracing builders, motor groups and oil companies, said the road budget had been cut by PERCENT in DATE.
""We expect to see a further contraction by MONEY (MONEY),"" said ORG spokesman PERSON ""It's already been cut for DATE.""
Spending on new roads and maintenance by government offshoot ORG was MONEY in CARDINAL, falling to MONEY in 1995/96 and is expected to be down to CARDINAL DATE.
The forecast for DATE is seen dipping again.
These cutbacks, plus reduced state investment in rail since privatisation, and the fact that hospitals are now under constrained regional budgets, have resulted in the building industry remaining in recession DATE after the rest of the economy moved into recovery, lobbyists claim.
Few industry leaders hope for a spending increase, but they would like to see a spending freeze at best.
The other issue on the construction industry's wish-list is for the Chancellor to break the log-jam holding up the private finance initiative (ORG) -- which aims to get private capital flowing into public sector projects.
The ORG has replaced a lot of fresh government spending, but the frequent hold-ups to project awards due to red-tape have","GPE's fraud watchdog, ORG (ORG) on DATE launched an investigation into former bosses of ORG, the do-it-yourself retailer rocked by accounting irregularities worth MONEY.
""The ORG has launched an investigation into the former senior management of ORG,"" an ORG spokesman told ORG.
It said the probe was being carried out jointly with the NORP police fraud squad in GPE.
Investigators are now expected to interview the ex-chairman and chief executive PERSON who resigned from the group in DATE, former finance director PERSON who is now at ORG, and the former buying and commercial directors.
""No-one has been arrested or charged and we have not executed any search warrants,"" the ORG spokesman said, adding that it had taken on the case on DATE but had not announced its involvement ""for operational reasons"".
Wickes uncovered the accounting scam in DATE. The discrepencies date back DATE and led to a QUANTITY (MONEY) overstatement of profits which will be wiped off shareholder funds.
The news led to a boardroom shake-up DATE and a three and a half month internal inquiry by accountants PERSON and law firm ORGamp; Paine.
""These investigations have led to the ORG having the reasonable grounds it requires to be able to launch a criminal investigation,"" said the ORG spokesman.
Meanwhile, ORG is trying to salvage its business which was shaken by the DATE's events.
Its shares remain frozen at MONEY per share and it is planning to restate profits DATE and launch details of a refinancing rights issue of CARDINAL.
A ORG spokesman told ORG those plans were ""well advanced."" It is also close to deciding on a new chief executive, with CARDINAL candidates shortlisted including an internal candidate.
The former chief PERSON said DATE that he accepted ""ultimate responsibility"" for what happened under his regime.
He has agreed to repay his QUANTITY in bonuses including tax. former finance chief PERSON has also agreed to repay his bonus of MONEY for DATE.
Moves to refinance the group will help cut gearing to PERCENT said analysts, who believe it will be far from easy to raise the rights issue cash needed to put the company back on the road to recovery.
Shares are not expected to resume trading until DATE.
($MONEY Pound)",1
"GPE issued an anti-corruption communique to ORG on DATE, warning members of the party that swept to power in DATE on a platform of integrity not to exploit official power for personal profit.
The communique, issued by the ruling party's ORG for ORG, also warned officials and the CARDINAL party members not to hold political views that differ from the party line.
GPE had scored great successes in battling graft in DATE but further efforts were needed to combat official corruption DATE, said the communique, published by ORG, mouthpiece of the ruling party. ""We must see with a clear head that the phenomenon of corruption still exists and in some places is spreading rapidly,"" the communique said.
""Some unhealthy tendencies still have not been effectively contained and officials in some places and departments still do not have a sufficient understanding of the seriousness of the anti-corruption drive,"" it said. The communique followed a speech on DATE by President PERSON, who has staked much of his political credibility on fighting graft and who said the anti-corruption battle was a struggle upon which the fate of the nation and party depended.
It reminded government officials that they were forbidden from exploiting their political clout to secure loans, goods or business contracts for their spouses or children.
GPE would also punish officials in loss-making state-owned firms who used company funds for personal use or who caused huge business losses through mismanagement, it said.
Disciplinary watchdogs would maintain a vigilant eye for officials who failed to toe the party line and be good communists, it said.
""Officials at every level...must strictly observe political discipline and maintain agreement with the central government in politics, ideology and action,"" it said.
""Party members, leaders and officials must...be honest in performing their duties, be staunch in their faith in communism and diligently uphold NORP values,"" it said.
Those who violated political discipline would be strictly punished, it said without elaborating.
Corruption, virtually unknown in GPE under the strict NORP rule of the late party Chairman PERSON, who led the communists to power in DATE, has boomed during DATE of market-oriented economic reform.
Disciplinary authorities punished CARDINAL officials for exploiting their positions for personal gain in DATE, up PERCENT from DATE, discipline committee chairman PERSON said DATE.
CARDINAL officials had owned up to using their power to obtain better housing, with PERCENT handing over a total of MONEY (MONEY) to pay for the housing.
Analysts say PERSON, who in DATE was plucked from his post as GPE party secretary to become anointed successor to paramount leader PERSON, is anxious to win popular loyalty with his high-profile anti-graft campaign.
While the president and party chief has won some credit from the netting of corrupt senior officials such as former GPE party chief and ORG member PERSON, many NORP say results of the corruption crackdown have been patchy at best.","GPE, stronghold of table tennis and kung fu, is trying its hand at professional basketball with the start on DATE of a new league using NORP coaches and players.
ORG was set up DATE by the country's ORG along with PERSON, a GPE-based sports promotion company. 
The new league aims to offer an alternative to the existing ORG, which is made up entirely of NORP players.
""CARDINAL league is the local, provincial teams and CARDINAL is definitely a professional league with foreign players and different rules,"" said PERSON chief operating officer PERSON.
The alliance will use ORG (ORG) rules and generate all revenue through ticket sales and television advertising.
Each of the CARDINAL teams has hired CARDINAL players and a head coach from GPE, but CARDINAL NORP players from each team will be allowed on the court at any one time.
The NORP, recruited from colleges or the ranks of former ORG players, have been in GPE for DATE, training and learning to work with their new team mates.
""The only thing is the language barrier -- once I learn some NORP I think we will have a lot more fun,"" ORG player PERSON said.
The GPE coaches use translators on the courts to help render their brusque and lingo-filled commands into NORP.
""You got some of them that got no clue as to what's going on as far as what I'm telling them,"" said ORG coach PERSON.
GPE's national team were ORDINAL in FAC, their best-ever showing.
The DATE begins in GPE on DATE with a match between ORG and GPE GPE.",1
"Like an ageing prizefighter, ORG is destined to slug it out with vigorous rivals both big and small in the MONEY long distance telephone arena, with no lift in earnings performance in sight.
Though ORG has just started to improve its marketing punch, share analysts say by the time it shows up in earnings it will be facing fresh opponents -- muscular regional ORG.
""It is hard to find a positive medium-term outlook for ORG,"" said PERSON of brokers ORG, adding that more attractive stocks could be found elsewhere.  
DATE's DATE earnings were in line with analysts' estimates, revised after DATE's profits warning.  But few analysts give hope for a quick profit rebound now that the company's fortunes are so clearly tied to its long distance marketplace.
AT&T DATE reported a PERCENT earnings per share decline to $MONEY from $MONEY DATE -- with increased competition and higher marketing expenses hitting long distance -- while financial services sank into losses.  
""I don't see much earnings improvement DATE or in DATE,"" said PERSON of brokers PERSON.  The shares were CARDINAL lower at $MONEY-3/8.
AT&T said it has been encouraged by early responses to its new $MONEY a minute flat price for long distance, and analysts say this should stem the weakness for now.
AT&T has a higher proportion of revenues from the consumer long distance market place than its CARDINAL archrivals ORG and ORG  
The spinoff of ORG in DATE and of ORG at DATE, plus numerous unit sales, can only tighten the dependence.
Companies like ORG -- which took CARDINAL long distance customers in DATE -- and ORG are entering the market in a big way, mostly in the consumer area.
They join CARDINAL of tiny aggressive companies like ORG, which lease the circuits of the big players and then compete with them at low prices.  
By DATE, dependent on the state of a legal tussle over ORG resale rules, regional ORG will be starting to enter the long distance market themselves.
By this time AT&T, like other long distance players, is hoping to offer local calling using the circuits of the regional ORG. But the legal challenge led by ORG may succeed in shutting the ORG out of the resale pricing process.
""If so, it will cost ORG more to get into the local market,"" PERSON said.  
Major players by then will be starting to offer packages including wireless, local and long distance and in some cases satellite or cable television too, all on CARDINAL bill.
This should shut out some of the small resellers and throw the fight onto brand names, where ORG should be strong -- but the outcome is far from clear, analysts say.
In the meantime, they are hoping for strong action at the loss-making PERSON credit card unit.
""The credit card business was very disappointing; that's something to watch going forward,"" Flannery said.
Analysts were concerned by a worsened risk profile and bad debt record at the unit.  If this can happen during buoyant economic times, a recession would be very painful, they say. -- PERSON, GPE Newsroom 212 859 1712","ORG, embracing merger partner ORG  in a MONEY match, is growing increasingly distant toward media tycoon PERSON and their joint offspring.
At the same time, ORG and ORG are seeking NORP telecom partners for PERSON, their new global company.
ORG said on DATE it would cut its stake in a GPE satellite joint venture with PERSON's ORG from PERCENT.
ORG Chief Executive PERSON told ORG that no major new launches were expected from the MONEY media joint venture with PERSON's ORG, and that ORG would sell to PERSON a MONEY satellite license if it could.
ORG has a stake of PERCENT in ORG, which it bought for MONEY, and has an option to splash out MONEY to take this to PERCENT.
""It is unlikely you will see us increasing our investment (in ORG)"" PERSON told ORG in an interview. He said that ORG was aware of ORG's position.
This is all a world away from the ORDINAL flush of enthusiasm when PERSON and PERSON announced a broad-ranging alliance in DATE.
The plan was to take the NORP magnate's publishing and television expertise and put it together with ORG's communications network and marketing skill, especially in the emerging market of the Internet.
But so far, the venture has produced some duds.
ORG's electronic malls on the Internet are now closed, and ORG ideas of producing supermarket tabloids to lure middle-aged readers to the Internet have been shelved.
Low-level cross-promotion, like advertising ORG calling cards in PERSON's ORG, have continued.
The crux of the problem, analysts say, is that there never was much overlap between ORG's blue-chip business clients and PERSON's blue-collar sports and publishing expertise.
""ORG is going after the High Street, not PERSON,"" said PERSON, an industry analyst at consultancy ORG.
The satellite offspring ORG (PERSON) has been a problem child, expensive and slow to develop in comparison with some rivals.
In DATE, ORG and ORG said they would offer digital television direct to the home across the GPE market within DATE, using the MONEY license ORG won in an auction.
But DATE, ORG announced an alliance with ORG ORG  DirecTV, a company that was already offering digital satellite services, and which now has CARDINAL subscribers.
ORG is clearly taking a ORDINAL look.
""We would be willing, consistent with our lowering our investment position (in ASkyB), to move those to ORG That will take ORG approval,"" PERSON said.
BT Chairman Sir PERSON said he expected to look hard for new partners to fill out the global telecommunications alliance in LOC.
""I think we will be more attractive to NORP partners than we would had we stayed separate,"" WORK_OF_ART told ORG in an interview. He declined to say which companies he had his eye on, but sources close to the company say GPE's ORG is considered the real prize.
Vallance said any partner would tie up closely to the business venture ORDINAL.
""I think it is more likely that, in the ORDINAL instance, we would invite partnership in ORG rather than the parent itself,"" he said.
The source said that PERSON would rely on chief executive Sir PERSON and his close links to the NORP market to lure ORG aboard. ORG is a former head of ORG, a NORP computer company majority owned by ORG -- GPE CARDINAL 859 1610",1
"Economic commentators in GPE are sounding alarms about the unbridled optimism spurring stock and property prices to new highs ahead of the NORP colony's return to NORP sovereignty on DATE.
Concerns are mounting that rising price pressures could inflate a collapsible bubble on the assumption that GPE will support GPE economy through the transition regardless of any political disruption.
""The term 'moral hazard' refers to the apparently growing belief in local markets that there is little dramatic down-side risk -- as opposed to short-term volatility -- because ultimately GPE will suppport GPE markets,"" PERSON, chief economist with ORG, wrote in a column in LOC.
In contrast to earlier fears that political uncertainty could torpedo GPE economy in DATE, domestic confidence in GPE's determination to keep the economy stable through the transition is so high that an unexpected problem has arisen -- price instability.
INFLATION FORECASTS ON THE RISE
Economists are starting to revise upwards their inflation forecasts for DATE in response to booming stock and luxury property prices.
""The outlook for DATE is going to be less good than we thought,"" said PERSON, economist at ORG.
ORG has raised its DATE forecast for the territory's benchmark consumer price index to PERCENT from PERCENT DATE, and PERSON said further increases are possible.
GPE strength in GPE stock market in DATE was welcomed as proof of confidence in the colony's future under GPE, and evidence of an economic turnaround following an export slump DATE and DATE of austerity in GPE.
But the optimism became concern in DATE when speculation emerged in the luxury end of GPE property market.
Citing anecdotal evidence, NORP argued that overseas and domestic investors confident of GPE's commitment to economic stability in GPE are rushing to buy high-end properties in anticipation of short-term gains.
The GPE government has since strongly supported a set of anti-speculation measures by ORG, and warned it will step in if there are signs that speculation is filtering down to the middle or low end of the property market.
But economists said property price volatility would eventually stimulate overall inflation, even though it has been restricted so far to the high end of the market.
""This will not be good for inflation expectations,"" PERSON said. ""In general, people will expect the higher prices in the luxury sector to affect medium and small flats.""
RENTS TO RISE 15 PERCENT DATE
Chan estimates an overall rise of PERCENT in property prices will translate into at least a PERCENT increase in rents DATE, which account for PERCENT of the GPE government's benchmark consumer price index (A).
Food prices, which account for PERCENT of CPI(A), are expected to rise by PERCENT DATE after holding steady DATE.
GPE will also suffer from its currency link to the GPE dollar. If GPE raises short-term interest rates DATE by CARDINAL basis points, as many expect, real rates in GPE -- the difference between nominal rates and inflation -- will fall to PERCENT, PERSON said.
Such low rates will propel growing momentum in both private consumption and retail sales.
GPE, with its well-documented aversion to the socially destabilising effects of inflation, has done little to stoke further exuberance over GPE DATE economy beyond saying it backed GPE currency link.
""There seems little doubt GPE new sovereign wants to see the local economy prosper throughout DATE of transition and in DATE of its resumption of sovereignty,"" Perkin wrote. ""It (is) probably true that it does not want to see the local economy going on a speculative spree that will eventually run out of steam and cause a collapse.""
-- Hong Kong Newsroom (CARDINAL) 2843 6441","ORG share price rose to recored levels DATE despite a warnings by the software giant of slowing growth in DATE.
ORG, which reported ""blowout"" ORDINAL quarter results on DATE, was up CARDINAL at CARDINAL and sparked a broad rally on ORG, where it was the most active issue with CARDINAL shares changing hands.
After the market closed DATE the company reported DATE earnings of $MONEY a share, up from $MONEY DATE and easily surpassing a consensus estimate of $MONEY.  
""They had a great quarter,"" said PERSON of ORGamp; GPE. ""(And) the outlook for DATE looks very good; they said so themselves -- uncharacteristically.""
More characteristic were comments by ORG executives in the earnings statement and a conference call with analysts afterward: They warned of a slowdown in growth in DATE, which begins DATE.
ORG Chief Financial Officer PERSON even went so far as to question the high valuation of the company's stock.  
In a comment worthy of ORG Chairman PERSON, PERSON said ORG's high price-to-earnings multiple was a ""cause for curiosity.""
But while PERSON downgraded the stock to hold from buy, based on its PERCENT increase over DATE, few investors heeded the warning.
""They do that every year,"" ORG said, referring to ORG's conservative forecasts. ""It's a bit like the boy who cried wolf. People are just not believing it.""
Most analysts who follow ORG raised their earnings estimates for the company.  
First Call, which tracks estimates, said a consensus of CARDINAL analysts surveyed DATE was that the GPE, Wash.-based company would earn $MONEY a share for DATE, ending DATE, up from a previous consensus was $MONEY. The company earned $MONEY a share in DATE.
For DATE, analysts now see the company earning $MONEY a share, up from a previous consensus of $MONEY.
Analysts say DATE will be DATE of tough comparisons for ORG after the DATE introduction of the Windows CARDINAL operating system, DATE upgrade of EVENT, and this DATE's launch of the Office CARDINAL application upgrade.  
While ORG plans an upgrade to Windows 95 more tightly integrated to its Internet browser, it is unlikely to derive the benefits of another price increase or significant further operating cost reductions, analysts said.
""I think that ORG does have a lot of hurdles to get over,"" said PERSON of ORG, who calls the stock ""fairly valued"" at its current level of CARDINAL times DATE earnings.
But analyst PERSON of Ragen ORG said investors are happy to pay a premium for a company that dominates one of the biggest growth industries and consistently surpasses Wall Street expectations.
""They've delivered consistent earnings, and Wall Street hates ugly surprises,"" he said.
Analyst PERSON of ORG said ORG would like to slow the meteoric rise in its stock price, if only to meet the challenge of providing enough shares to fulfill employee stock options.
""Yet it's difficult, with such a compelling long-term growth story, to keep a great stock down,"" he said in a published comment.
((-- GPE Bureau 206-386-4848))",0
"DATE stern crackdown on GPE's stock markets has increased the speculative instinct of investors to trade on rumours of policy shifts rather than on fundamentals, analysts said on DATE.
The share markets started their latest bull run in DATE when GPE announced it would support the markets.
Rumours and guesses about GPE's attitude and plans have been the primary trading factor ever since, the analysts said.
While the GPE authorities have been trying to convince investors to look more at long-term investment based on the fundamentals of the economy and of individual companies, they again chose an old-fashioned means of reining in the markets.
""The crackdown has shown again the risk of policy changes for GPE's stock markets,"" said an executive with a major NORP securities house.
""Policy changes have been a very hot speculative topic in the past and the use of administrative orders like this to cool down the markets will make them an even hotter topic in the long run,"" he added.
GPE DATE charged that GPE's CARDINAL stock markets in GPE and GPE were overheated and warned that GPE would not come to investors' rescue if the markets crashed.
""The action has cooled speculative activity for now,"" said an analyst with a foreign brokerage in GPE. ""But the investment pattern has not changed. It is still political issues which drive the stock market up and down.""
In the shake-out DATE, investors generally took refuge in blue-chip shares and dumped the so-called ""rubbish shares"" which have soared in DATE on the basis of little more than an impression that GPE wanted the markets up.
""Retail investors have turned more to blue-chip shares,"" said a trader. ""Their prices have been stable despite the crackdown.""
Analysts said market psychology could have been better influenced if the authorities had pulled share prices back down using market means such as the issue of more shares or the listing of some state or institutional shares.
CARDINAL key problem of the NORP share markets is the lack of suitable supervisory mechanisms and regulations, leading to widespread irregularities such as share price manipulation and the use of credit for stock trading, the analysts said.
""With a stock market law lacking and regulations incomplete, many trading activities are in a legal no-man's land, making it difficult to check irregularities,"" said CARDINAL stock analyst.
The draft Securities Law, the topic of hot debate in the corridors of power in GPE for DATE, is not expected to be enacted any time soon partly due to differences over who will have the final say on securities policy, the analysts said.
Responsibility for securities policy at present overlaps between ORG under ORG (cabinet), ORG and ORG, or central bank.
GPE's domestic A share index rose CARDINAL points or PERCENT on DATE to end at CARDINAL after losing PERCENT in DATE trading. The foreign currency B share index was up CARDINAL points or PERCENT to CARDINAL.
In GPE, the A share index fell CARDINAL points or PERCENT to CARDINAL, while the B share index soared PERCENT or CARDINAL points to CARDINAL.","The child chosen by GPE to be GPE's ORDINAL holiest monk passed the ORDINAL anniversary of his selection quietly in GPE on DATE, far from the restive NORP region, officals in the capital said.
Officials in GPE said they had concluded a DATE push to curb separatist sentiment in the deeply NORP region's monasteries, a campaign that an overseas watchdog group has reported led to the expulsion or detention of scores of monks.
DATE PERSON, chosen by GPE as the ORDINAL incarnation of the Panchan Lama, would not attend any activities on the ORDINAL anniversary of his selection, an official of the GPE regional authority's GPE office said.
""The child is in GPE, so there will not be any activities in GPE,"" the official said by telephone.
All planned anniversary celebrations slated for the capital had been completed, he said.
State media have said that ORG, regarded by many NORP as a pretender to the ORDINAL Panchen Lama's spiritual mantle, visited GPE's PERSON DATE to celebrate the anniversary of his enthronement.
GPE's spiritual leader, the exiled PERSON, has named another boy as the reincarnation of the ORDINAL EVENT, the NORP region's ORDINAL holiest monk who died in DATE.
NORP sources have said GPE's choice lives in the capital under state protection against possible assassination attempts by radical NORP.
In GPE, an official of the religious affairs bureau said a DATE campaign to boost patriotism and curb separatist sentiment in the region's monasteries had been concluded.
The GPE-based human rights watchdog ORG (ORG) said DATE that official attempts to bring restive clergy to heel had led to CARDINAL monks being expelled from their monasteries and possibly CARDINAL arrests.
ORG said many monks had been told to leave because they refused to criticise the Dalai Lama, GPE's greatest rival for the loyalties of the remote region's people.
Some monks had been sent back to civilian life because they did not behave properly during the patriotism campaign, the religious affairs official said but gave no details.
He dismissed a report from ORG that the campaign left CARDINAL monks at GPE monastery near the NORP capital.
""PERSON has CARDINAL monks...they are all at the monastery,"" he said, but declined to comment on whether there was an official limit on the number of clergy allowed there.
""That is a secret, we cannot talk about it on the telephone,"" he said.
While GPE says most NORP back NORP rule, a constant propaganda barrage against supporters of the Dalai Lama, exiled since an abortive uprising against GPE rule in DATE, is testament to his remaining influence.
An edition of the ORG newspaper seen in GPE on DATE quoted senior officials as saying all public figures should clearly state their position in the war on separatism.
""Some of our comrades do not sufficiently recognise the Dalai Lama clique's ideological infiltration and do not combat it strongly enough,"" the newspaper said.",0
"ORG ended DATE of speculation DATE by declaring it might bid for NORP regional utility ORG in a deal that could be worth MONEY.
The bid would mark the lastest in a a line of GPE utilities companies seeking to buy into the privatised NORP power supply business.
But in a statement published after the close of GPE trading, GPE, Va.-based ORG, which owns electric utility ORG, said it would not make an offer at a price ""much in excess"" of East Midlands' closing price.
Sources close to the situation said that if the price ""runs away DATE, then ORG will run away.""
East Midlands' share price leaped MONEY to close at MONEY ($MONEY) on DATE, lifting the ORG, GPE-based group's value to MONEY 1.2 billion pounds (MONEY), as rumour swirled around it.
Dominion stock gained MONEY to $MONEY on ORG.
The sources said ORG had already cut costs ""to the bone,"" adding that ""the comapny needs investment to grow again.""
GPE declined to comment on the ORG statement.
Rumours that another bid was about to claim CARDINAL of the few remaining independent regional electricity companies in GPE and GPE sent their shares soaring.
Besides GPE, ORG.'s shares rose MONEY to CARDINAL ($MONEY), while ORG. jumped MONEY to MONEY ($MONEY), and ORG. gained CARDINAL to MONEY ($MONEY).
The names of any likely bidders remained a mystery.
ORG is a medium-sized company in GPE, with a market capitalisation of MONEY and DATE sales of MONEY.
In addition to ORG, its main subsidiary, ORG has a number of joint generation ventures in GPE and internationally, notably in LOC. It also has an interest in gas and real estate.
If ORG's board proceeds, the bid would be the latest in a series of GPE companies that has turned up recently in the privatised NORP power supply business. DATE, a unit of U.S.-based ORG launched a hostile QUANTITY (MONEY) bid for ORG.
ORG, which is due to release strong DATE results early in an attempt to attract a higher bid, saw its shares rise MONEY to MONEY ($MONEY) on DATE, adding to recent sharp gains.
Out of the CARDINAL privatised cash-rich regional electric companies, CARDINAL have already changed ownership -- CARDINAL of them to GPE companies.","ORG group ORGamp; ORG reassured analysts on DATE that it was set to report a solid performance for DATE, despite continuing tough market conditions and the impact of a strong pound.
The company, which is due to announce DATE results on DATE, told an analysts' meeting that little had changed from its last update in DATE, when it reported that operating conditions and price pressures in the key GPE market remained difficult.
Analysts who attended DATE's meeting said ORGamp; ORG, which reported a PERCENT rise in DATE sales to CARDINAL stg, was likely to report an increase in DATE sales of CARDINAL from MONEY stg achieved in DATE.
They said there were also signs that profit margins could have turned out better in DATE than the ORDINAL.
Another positive aspect of the meeting was a signal that sales in the highly competitive GPE market, which accounts for PERCENT of turnover, had seen a PERCENT improvement in DATE after gaining PERCENT in DATE.
Prices in the GPE for ORGamp; ORG's products in areas including orthopaedic implants and wound management are being forced down by increasingly powerful health providers.
Shares in the company, which had been trading close to their DATE lows of CARDINAL, rose MONEY to CARDINAL in TIME trading. The stock had reached record highs of MONEY in DATE amid hopes for a novel skin replacement product, ORG, currently being developed with ORG of the GPE
BZW analyst PERSON said the shares had taken a ""phenomenal pounding"" in DATE as over-optimistic predictions for ORG had been reined back, and had taken some support on DATE from the absence of bad news.
""There are signs that the DATE revenue performance was a bit stronger, which is encouraging, and there was some reassurance on ORG, but the full picture (on PERSON) won't be available until DATE.""
Another analyst, who asked not to be identified, said ORGamp; ORG had been ""very upbeat"" about the the skin replacement product, which would initially be targeted at foot ulcers.
""I think PERSON is potentially a very significant product for the company,"" he added.
Analysts said the technology, which enables cells derived from babies' foreskins to grow on a naturally-absorbable scaffold across wounds, could add MONEY MONEY per share to ORGamp; ORG's value if it succeeded.
ORG analyst PERSON said she was happy with the current value of the shares, which reflected a balance between limited growth prospects in DATE and ""the promise of the pipeline,"" including ORG.
ORG believes that in addition to ORG and similar high-tech products, ORGamp; ORG will use its financial strength for acquisitions to help lift growth above the ""pedestrian"" in the medium term.
ORG said she might shave CARDINAL stg off her DATE pre-tax profit forecast of CARDINAL stg to take account of the impact of sterling's strength on the group in DATE.
BZW's Plag said DATE pre-tax profit forecasts in the range of CARDINAL to 186 million stg ""would be sensible.""
PERSON +44 CARDINAL 7717",1
"U.S.-based ORG on DATE agreed a MONEY (MONEY) takeover of ORG, CARDINAL of CARDINAL remaining NORP independent regional electricity companies (NORP).
But doubts that the deal would make it past GPE competition authorities as political pressures gather ahead of a general election due by DATE kept the lid on share prices.
Executives from both firms told a press conference they saw no reason for a referral of the MONEY per share bid, the ORDINAL by a GPE utility for a Rec, to the GPE's ORG (MMC).
But NORP shares closed up MONEY at MONEY, as concerns grew trade secretary PERSON might halt this latest in a wave of bids in which CARDINAL of the CARDINAL cash-rich PERSON have been snapped up since expiry of a protective golden share DATE, DATE from privatisation.
""Everyone's expecting the MMC to take a close look at the deal. That is why the shares are only trading MONEY,"" said CARDINAL trader.
CARDINAL of the CARDINAL GPE sold have already gone to GPE utilities which are attracted by relatively loose GPE regulation.
CARDINAL bids have so far been blocked by trade secretary PERSON, who stunned the market by stopping generators ORG and ORG from consuming CARDINAL GPE DATE.
Executives from ORG met NORP management late on DATE with a takeover price top of the agenda.
The GPE-based company said DATE it was considering a bid ""at a price not much in excess of MONEY per share."" But LOC rejected that, saying it would undervalue the ORG-based electricity company's prospects.
NORP chairman Sir PERSON said in a joint statement that his board was recommending the current offer ""because it represents fair value for an excellent business, which has successfully differentiated itself from the sector.""
""Dominion's offer looks a fair compromise price,"" said PERSON, utilities analyst at PERSON.
Dominion chairman PERSON told a press conference that the company had looked at many PERSON but focused on LOC in spring as it ""liked the management...and the way the numbers fitted with ours.""
Chief financial officer PERSON told ORG that the company intended to run its target as a stand-alone business and that it wanted to keep GPE management team, which is highly regarded by industry analysts.
GPE was the ORDINAL of GPE's electricity utilities, which were privatised with strong cash balance sheets, to launch a special dividend to redistribute cash to shareholders, in DATE. PERSON said ORG looked forward to the diversification LOC would bring to it and said the GPE company would bring strengths to the NORP firm.
The GPE company has a QUANTITY credit to fund its bid underwritten by ORG and ORG, banking sources said.
($MONEY Pound)","GPE group ORG on DATE agreed a MONEY (MONEY) bid for ORG, CARDINAL of CARDINAL remaining NORP independent regional electricity companies.
But NORP shares languished well below the MONEY per share offer price, as concerns emerged the bid might face obstacles from NORP competition authorities.
GPE-based ORG said DATE it was considering a bid ""at a price not much in excess of MONEY per share"". But GPE had scorned that price, saying it would undervalue the ORG-based electricity company's prospects.
Executives from ORG, the ORDINAL GPE utility to bid for a NORP power supplier, met NORP management late on DATE with a takeover price top of the agenda.
NORP chairman Sir PERSON said in a joint statement that his board was recommending the offer ""because it represents fair value for an excellent business, which has successfully differentiated itself from the sector.""
East Midlands shares were up MONEY at MONEY ahosrlty after CARDINAL ORG, off a high of MONEY.
""Everyone's expecting the MMC (ORG) to take a close look at the deal. That is why the shares are only trading MONEY,"" said CARDINAL trader.
CARDINAL of the original CARDINAL Recs have already been bought since they came up for grabs DATE after the government's protective golden share expired, DATE after privatisation in DATE.
ORG is currently fighting off its ORDINAL hostile approach in DATE, rejecting a bid at MONEY per share from ORG, a subsidiary of GPE energy group ORG, which holds PERCENT of the
""Dominion's offer looks a fair compromise price,"" said PERSON, utilities analyst at PERSON.
But he added there were ""very genuine concerns"" that the offer might be referred to the MMC.
""If ORG is allowed to buy GPE and ORG secures LOC, that would leave CARDINAL independent PERSON,"" CARDINAL analyst said.
NORP electricity watchdog PERSON is expected to consult on ORG's bid and then pass on its advice to PERSON, the trade and industry secretary, who will then decide whether the bid should be referred to the MMC.
Offer has completed consultations on ORG's bid and will be passing on its advice to ORG shortly, industry sources said.
So far, only generators ORG and ORG have had their bids for PERSON blocked, as they would have created fully integrated generation and supply companies.
ORG's chief financial officer PERSON said in an interview that the company was now talking to the regulator.
""We intend to run this as a stand-alone business,"" he said, adding that he certainly hoped for approval from Offer.
He also said the group hoped to keep GPE management team, which is highly regarded by industry analysts.
GPE was the ORDINAL of GPE's electricity utilities, which were privatised with strong cash balance sheets, to launch a share buy-back to redistribute cash to shareholders.
PERSON said ORG looked forward to the diversification LOC would bring to it and said the GPE company would bring strengths to the NORP firm. ($MONEY Pound)",1
"PERSON's cotton monopoly PERSON is forecasting rises in output and processing capacity in the CARDINAL DATE, thanks in part to higher world prices.
At the same time, it is looking to new markets in GPE and GPE to boost sales of what is currently the nation's main source of foreign exchange.
But company administrative director PERSON says that despite the optimistic outlook, the industry remains hostage to external factors beyond its control.
""The future depends on the problems of world cotton price fluctuation, rain levels, and the exchange rate for sales in dollars,"" he told ORG in an interview.
LOC's ORDINAL largest cotton producer, majority state-owned ORG limited the impact on production of a DATE drought.
""The threat of drought has been overcome by enlarging the area under cultivation,"" ORG said. ""Rains in (southern GPE) cotton areas were largely sufficient. We needed DATE of good rain DATE.""
Rain in other areas was PERCENT below average.
Cotontchad sees its seed cotton purchases rising to QUANTITY in CARDINAL from QUANTITY in CARDINAL. It projects the area under cultivation rising to CARDINAL hectares from CARDINAL in CARDINAL.
LOC produces PERCENT of world cotton.
PERSON's ORG) in DATE raised FAC cotton farmgate prices for CARDINAL by MONEY a kg to CARDINAL CFA to pass on world market price increases to farmers and encourage production.
The rise followed a CARDINAL ORG increase in CARDINAL, a move that had already encouraged farmers to plant cotton and use insecticides and fertilisers.
Total seed cotton processing capacity at ORG's CARDINAL southern factories, which handle all the annual crop, has been increased to cope with the projected production increase.
In CARDINAL they produced QUANTITY of fibre. In CARDINAL, officials expect them to produce QUANTITY.
""We recently added capacity to an existing factory at Pala, which is now our most modern facility,"" ORG said. ""Quantities and quality are particularly good around Pala.""
Processing capacity has also been boosted to QUANTITY of seed cotton DATE at ORG and PERSON, with plans to do the same at Koumra over DATE, he added.
Exports could be boosted, with GPE and GPE showing interest. Traditional markets for FAC cotton are GPE, GPE, GPE and GPE -- plus GPE for Grade CARDINAL.
With world average per capita consumption expected by some experts to rise to QUANTITY in DATE from QUANTITY in DATE, ORG says demand for its produce is already increasing.
""Our cotton is sold throughout the world but we are getting a lot of interest in people setting up business with us,"" GPE-based ORG Director PERSON told ORG.
Cotontchad hopes oil revenue, expected from DATE, will be used to improve dirt bush tracks. Road construction is under way in southern cotton belt areas but some tracks are closed to large trucks by law during DATE of rains.
PERSON thrives in GPE's wetter southern areas. It was not farmed commercially until NORP colonisers gave PERSON, later ORG, a monopoly on cotton purchasing and ginning.
Cotontchad is owned by PERSON (PERCENT), the ORG NORP textile development board (PERCENT), banks (PERCENT) and ORG (PERCENT).
CARDINAL of GPE's CARDINAL people depend directly on cotton, but textile manufacturing is still a minor industry.
The country's CARDINAL textile plant, the partly NORP-owned ORG factory at ORG, took QUANTITY from ORG in CARDINAL, ORG said. The plant has a QUANTITY capacity.
(MONEY)
-- Abidjan newsroom +225 CARDINAL","NORP Prime Minister PERSON said on DATE he wanted a public debate on the planned privatisation of electronics group ORG after an outcry over an earlier government decision.
""Once the (privatisation commission) has delivered its ruling, and whatever its content, I will ask for a public debate on all the issues of this case, financial, industrial and social, so that we can have all the cards on the table before the government decides and everybody takes their responsibilities,"" PERSON told parliament during question time.
The government said on DATE it wanted to sell loss-making and indebted ORG to books-to-missiles conglomerate Lagardere Groupe instead of to industrial and telecommunications group ORG.
The government planned to sell ORG a symbolic franc after an MONEY (MONEY) capital increase.
Lagardere plans to merge ORG's PERCENT owned ORG defence electronics group with its own ORG into the world's ORDINAL-biggest defence electronics group.
As part of its plan, it agreed to sell ORG's wholly-owned consumer electronics group ORG to ORG, also for a franc.
PERSON told parliament on DATE that he personally made the decision to favour Lagardere because it was in the best interests of the country's defence industry and job market.
ORG, a body of CARDINAL independent experts, is currently studying both offers and has to state whether the bids reflect the true value of ORG and whether it agrees with the government's preference.
Its decision is expected in DATE.
Normally, a privatisation can go ahead if the commission agrees with the government preference, but the sale procedure has to be restarted if the commission does not agree.
The government normally does not announce its preference but ORG Minister PERSON said he decided to do so to avoid any insider dealing in shares of ORG or ORG.
""I don't see them turning back on their decision,"" a share trader said about the debate. ""I think they're doing this to allow them to respond to criticism and explain their decision.""
ORG labour unions are upset by declarations by PERSON that their company was not worth one franc, but MONEY, the level of its debts.
ORG chairman PERSON told FAC on DATE the company would be automatically profitable from DATE due to technology licensing rights.
The company made a MONEY loss in DATE, ORG said.
Another criticism also emerged about the way the government announced its preference before ORG had studied the offers.
PERSON, ORDINAL secretary of ORG and rival to PERSON in DATE presidential elections, openly wondered whether the government had acted illegally.
""I was shocked by the method, which was despicable and perhaps even illegal,"" he told a television interviewer on DATE.
($MONEY NORP Franc)",0
"NORP Prime Minister PERSON said on DATE he had expressed disapproval to his NORP counterpart over the jailing of dissident PERSON.
ORG raised the case of former student leader PERSON, jailed DATE for DATE, during a dinner with NORP Premier PERSON in GPE on DATE, he told a news conference.
A court in the NORP capital DATE took TIME to condemn ORG for plotting against the government, after a trial that sparked expressions of concern from around the world.
""During the official talks of the delegation we talked about human rights in general,"" ORG said.
Asked about the case of PERSON he said the DATE dissident had not been discussed in the official talks but had been raised afterwards.
""During the dinner I had the opportunity to have a more private discussion with Premier PERSON and raised that case you mentioned, PERSON,"" he said.
""I told him what we have said before...that we don't like the treament in this case,"" he said.
Persson, who has drawn political fire at home for his decision to carry out the DATE visit despite ORG's jailing, declined to give details of the talks or to describe Premier PERSON's reaction to the raising of ORG's case.
It was more efficient to raise such cases as ORG's in private at a dinner than during official talks because GPE considered such matters internal affairs, he said, adding that GPE firmly believed in continuing dialogue on human rights.
""We...think that GPE treats its political dissidents and religious dissidents too hard and are also critical towards their frequent use of capital punishment,"" he said.
""We have signed an agreement with GPE where the NORP ORG will arrange human rights seminars in GPE and GPE...for officials from the prisons and the judicial system,"" he said but did not elaborate.
The jailing of PERSON was latest in a series of crushing blows to GPE's tiny and struggling pro-democracy movement. Most dissidents have already been forced into exile or are serving long sentences in prison or adminstrative detention.
GPE and GPE had signed an agreement on a consulate for GPE, which returns to GPE rule on DATE, he said adding that his discussions with NORP leaders had also touched on international politics and trade.
A delegation of NORP businessmen was travelling with the prime minister during his visit and was expected to sign a number of deals, ORG said but gave no details.","GPE sole supplier of natural gas, GPE's Gazprom, has agreed to start talks on a long-term supply deal, ORG minister PERSON said on DATE.
He said the talks would focused on a contract for supplies of QUANTITY (bcm) per year.
""DATE's offer respects this conclusion (of the NORP government to diversify supplies),"" Dlouhy told a news conference after meeting Gazprom chairman PERSON.
""That means supplies of CARDINAL bcm, and an agreement to start negotiations on a long-term contract. I consider this to be a good result,"" he said.
GPE currently imports all of its CARDINAL bcm of natural gas DATE from Gazprom under a DATE contract ending in DATE, extendable for DATE.
Dlouhy said Gazprom had accepted that the NORP want to partially diversify their gas supplies.
""Until now, they have been trying to save the PERCENT coverage. DATE they came with an offer -- not all supplies from GPE,"" he added.
The consumption is expected to rise to CARDINAL bcm per year in DATE. The country wants to cover the increase from alternative sources.
Dlouhy's deputy, PERSON, told reporters that the aim was to bring the contract with Gazprom to ""a NORP standard of DATE"".
Dlouhy said talks would start with several potential partners to choose how to diversify the supplies. These talks would be included in a report to the full cabinet which should make a ""more concrete"" decision DATE, ORG said.
""We would want to have the ORDINAL supplies from diversified sources already in DATE,"" he said.
He added that some of the options would include buying NORP gas through an intermediary, possibly through NORP company PERSON, and GPE's Wintershall, a subsidiary of ORG.
Dlouhy said these partners would provide a guarantee of supplying from their own sources in case of emergency.
He also said an earlier announced option of buying some gas from GPE was still under consideration, and said that GPE's  ORG und ORG, or U.S.-based ORG could serve as ""supplementary sources"".
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"GPE mutual fund giant ORG said on DATE that NORP regulators were investigating trades made by PERSON, the star manager of their new NORP equity fund.
PERSON's CARDINAL-city road show to promote ORG's True North fund has been postponed as a result of the regulatory review, said a spokesman for the GPE-based mutual fund company.
The tour was scheduled to begin on DATE.
""Veronika Hirsch ... was recently contacted by a regulatory agency about her personal investments before she joined ORG,"" PERSON, a spokesman for ORG's NORP subsidiary, ORG, said in a telephone interview.
""At this time it is appropriate to postpone the tour and we're hopeful that the regulatory review of her trading activity will result in a favourable conclusion,"" ORG said.
He did not identify the regulator, but NORP newspapers reported on DATE that ORG was looking into the matter.
ORG said PERSON was not available for interviews and he was unsure of her whereabouts.
The controversy is over PERSON's investments in a GPE-based exploration firm, ORG, DATE while she was a high-profile fund manager with ORG in GPE.
PERSON, a flamboyant stock picker compared to her sedate peers in GPE's mutual fund industry, was hired by ORG with much fanfare in DATE after DATE at ORG.
ORG is conducting its own review of PERSON's actions before she joined the company.
During her brief stint at ORG, PERSON bought CARDINAL special warrants of PERSON for herself through a private placement in DATE, according to statements filed with ORG and reported by GPE-based ORG, a newsletter which tracks NORP stocks.
Hirsch paid C$MONEY ($MONEY) per warrant.
A short time later, ORGamp; ORG managed by PERSON bought CARDINAL special warrants, according to the filings with the GPE commission.
The ORG fund paid over double the price, C$MONEY ($MONEY) per warrant, paid by PERSON.
Another related issue is whether PERSON used a false address in GPE to buy PERSON shares. NORP newspapers have reported that the home address of a GPE stock analyst and institutional salesman was used.
PERSON is a resident of GPE and ORG stock was only available to GPE residents.
ORG chief executive officer PERSON has said PERSON broke company rules by failing to report her personal investment in PERSON. He added PERSON could have been fired if ORG had known about the trades.
The controversy swirling around PERSON has dominated the business pages of NORP newspapers, but ORG said the publicity has not hurt ORG's efforts to build a higher profile in NORP equities management.
""We have had a lot of great responses to the (True North) fund. It has been well-received and has grown to MONEY (MONEY),"" ORG said.","LAW"" state-controlled NORP banks need owners who could secure their growth and international competitivness, a vice-governor of ORG (CNB), PERSON, said on DATE.
""We need strong, stable, sound and efficient banks able to compete on the NORP market,"" PERSON told a banking seminar. ""NORP banks need owners who can meet that criteria.""
He said the CNB had fine-tuned its concept, submitted to the government DATE, for selling the state's stakes in the country's CARDINAL largest banks, after requests for clarification from Prime Minister PERSON.
PERSON did not elaborate on what changes were made to the ORG's original concept.
The state holds PERCENT in GPE a.s., PERCENT in savings bank ORG GPE DATE., PERCENT in ORG PERSON. (ORG), and PERCENT in ORG a.s..
The parts of the original CNB plan which have already been been made public propose a quick selloff of the ORG stake, a merger of ORG and GPE with eventual privatisation of the single entity, and an incremental sale of GPE shares.
The ultimate decision rests with the government which has yet to put forward its own plan. The CNB has said however that there is a broad consensus that EVENT"" privatisations should go through, but the question is how.
Klaus has said he was opposed to the idea of a merger of ORG and GPE, which would create ORG largest bank with assets topping MONEY
But ORG and ORG have agreed that the ORG stake should be sold quickly to a strategic foreign investor.
Local media have been ripe with speculation over which foreign partner is most likely to take the shares.
GPE-based ORG, and ORG, are widely seen as front runners for the ORG stake.
The NORP private station TV PERSON reported DATE that NORP bank ORG was also interested in buying into IPB.
On DATE, an ORG spokesman said his bank viewed the report as ""market rumour"" and declined further comment.
Meanwhile, Klaus economic adviser PERSON was quoted as saying in the NORP daily PERSON on DATE that ORG  was looking to win a mandate to arrange the sale of ORG's stake.
CNB Governor PERSON told ORG DATE however that the full cabinet had yet to discuss the central bank's plan but would do so in DATE time. He said only a few of the opinions from the government were known.
PERSON told the confernce that the state-held stakes in LOC are now worth MONEY crowns at market prices, after having negative value before the post-Communist banking reforms at DATE.
-- PERSON, PERSON, CARDINAL-2-2423-0003",0
"Electronic payment systems company ORG said on DATE its bid for Internet software firm ORG would allow it to launch a product for making secure payments on the Internet.
Intellect, which helped pioneer EFTPOS (Electronic Funds Transfer Point of Sale) technology and systems in GPE, wanted to export GPE's software in conjunction with its own secure electronic payments systems, Intellect executive chairman PERSON told ORG.  
Intellect already sold its EFTPOS hardware and software to CARDINAL banks outside GPE and to CARDINAL large banks in LOC, all of whom were investigating its use with the Internet.
""All banks are looking for greater service and lower costs and the internet is the way to do that,"" PERSON said in an interview.
Finding a user-friendly and secure way of making payments and money transfers on the internet has become something of a holy grail for programmers.  
Secure payments systems are seen dramatically increasing the volume of financial transactions made on the net, which are already growing strongly.
GPE's Web GPE unit built the software currently being used for internet banking by ORG, which is merging with ORG
Intellect announced late on DATE it would make a takeover offer for ORG in a counter-bid to a previous offer by ORG
Intellect said it will offer CARDINAL of its shares for every 2-1/2 GPE shares. The bid values GPE at MONEY.  
GPE, who had already signed a distribution agreement with Intellect, has recommended shareholders accept the bid.
Leighton said the success of GPE's software on ORG site was a key factor in Intellect's decision to launch a takeover bid.
Advance's Internet banking site is GPE's most successful and has been consistently rated amoung the world's top CARDINAL internet banking sites by ORG, an Internet magazine that rates internet sites.  
ORG spokesman PERSON said the GPE-designed site had CARDINAL regular customers who used the site for CARDINAL transactions a week.
The site was picking up CARDINAL new customers a week and each internet transaction cost the bank MONEY, while an over the counter transaction cost MONEY, he said.
""The collaboration between GPE and ORG was a key for ORG getting the jump on our competitors,"" PERSON said.
Intellect's ORG said GPE's headstart in GPE meant it had a good chance of becoming the industry standard for Internet transactions in GPE.  
""It has the ability to become a defacto standard in GPE,"" PERSON said.
The marriage of GPE's secure transaction software and ORG hardware and systems would help accelerate the trend of convergence evident in DATE between debit cards, credit cards and EFTPOS, he said.
""As these different payments come together, you'll then see they'll be able to be more economically utilised over the Internet.""  
Intellect's share price closed down MONEY at MONEY on DATE, giving it a market capitalisation of MONEY.
GPE's shares closed up MONEY at MONEY.
-- ORG CARDINAL-2 9373-1800","PERSON predicted he would win his legal battle with PERSON and ORG and said his global media company, ORG, was on track to boost profits PERCENT DATE.
In remarks published in ORG ORG newspaper in GPE, PERSON also was quoted as saying that he did not want to buy out GPE's other major newspaper publisher, ORG
ORG publishes major tabloid newspapers in GPE and GPE, ORG and The NORP, also owns PERCENT of GPE.
Discussing his recent feud with ORG founder PERSON and ORG, PERSON said he was confident ORG would win its lawsuit against the MONEY merger of ORG and GPE-based ORG, which was completed on DATE after shareholders of both companies approved the deal.
""We've got a good stoush (fight) there,"" PERSON said. ""We'll win through there. How or where I don't know but we'll just keep the pressure on,"" he said.
ORG said on DATE that PERSON's lawsuit to block the merger of ORG, which creates the world's biggest media company, was a ""frivolous piece of junk.""
PERSON and ORG have fought a pitched battle in DATE over the merger. At issue is whether ORG, GPE ORDINAL-largest cable operator, will carry PERSON's new all-news channel that will compete with ORG.
ORG is seeking MONEY in damages from ORG and ORG, saying their decision not to carry ORG TIME ORG showed they were stifling competition.
""They promised me very firmly we'd have CARDINAL subscribers and when the day came to sign the document, they weren't there,"" PERSON said in the interview, referring to ORG decision not to carry the new channel.
Turner was forced to apologise DATE for comparing PERSON to Adolf Hitler, while PERSON has described ORG as liberal and his executives have said ORG was monopolistic.
PERSON also confirmed his bullish outlook for ORG profits.
""If the NORP economy holds where it is and the NORP one does, yes certainly,"" a PERCENT rise in profits is attainable, he told ORG. ""But it is still DATE to be saying that.""
ORG said after releasing its results in DATE that a PERCENT profit rise in DATE was attainable. News earned MONEY (MONEY) net profit in DATE.
PERSON also said he had no plans to buy out ORG, which publishes broadsheet newspapers in GPE and GPE and is ORG major competitor in newspaper market.
He said NORP-based rival media owner PERSON was also unlikely to bid for GPE any time soon.
""I don't want to buy GPE. I don't believe Mr. (Kerry) Packer wants to buy GPE,"" he was quoted as saying.
""To my knowledge he (Packer) has CARDINAL times tried to sell his shares within DATE. He'd like to influence and have the power of GPE but he's too shrewd to be paying for GPE at DATE's price.""
GPE's FAC, whose ORG owns PERCENT of GPE and who has expressed a desire to take control of the group, expressed surprise at PERSON's comments.
""(PERSON's statement) is fairly humorous. It's a bit rich given the fact that he never stops telling me how much he would like to own GPE,"" Black said by telephone DATE.
""I cannot obviously comment on what the others are doing or what PERSON's motives are. The fact is that he regularly expresses to me considerable hypothetical interest in GPE,"" he said.
ORG owns ORG, DATE and DATE publications in GPE and ORG.",1
"ORGamp; ORG plc , CARDINAL of GPE's leading insurers, on DATE unveiled its ORDINAL set of DATE results following DATE merger and said it would be seeking shareholders' permission to buy in PERCENT of its shares.
But large provisions for GPE environmental claims and the impact of the pounds's recent strength took the gloss off the figures, the ORDINAL since GPE's ORG and GPE were put together in a QUANTITY (MONEY) merger DATE.
The MONEY in provisions, largely put aside for GPE asbestos and environmental claims, follows a change in the way the group assesses possible liabilities.
On DATE, ORG subsidiary PERSON on DATE set aside MONEY in provisions.
Both companies have said that they expect it to mark the end to such provisioning.
Including the currency and environmental charges operating profits for DATE were MONEY compared with MONEY in DATE for the combined group.
By TIME ORGamp; ORG shares were trading MONEY lower at MONEY despite an earlier jump to the DATE's high of CARDINAL on initial reaction to the share buyback.
The operating figure did not include MONEY related to the cost of consolidating operations, CARDINAL or 40 million pounds more than analysts had expected.
But management declared themselves pleased with the results and said the group remained on target to achieve the DATE cost savings of MONEY identified at the time of the merger.
ORGamp; ORG chief executive PERSON said the integration was progressing well, especially on the staffing front, and the group was continuing to retain business.
But he dismissed the possibility of an acquisition to strengthen its life business or exposure to LOC.
""There's an awful lot going on in integrating the CARDINAL companies and that is where our mind is focused. That's where we have to keep our concentration.""
The dividend for DATE was raised to MONEY per share in line with management's forecast at the time the merger was announced last May. Net asset value per share was MONEY at DATE and had increased to MONEY by DATE.
""This was a very good operating result in DATE which was affected by exceptional weather in the GPE and continuing soft markets,"" said ORGamp; ORG deputy chairman PERSON.
The group had decided to buy back shares in anticipation of continued strengthening of the group's capital position, added PERSON.
The weather related costs mirrored the experience of competitors who have all highlighted the impact on profits of some of the worst weather on record in LOC DATE.
Profits for the general insurance business after the changes in claims reserving were MONEY, down from MONEY in DATE. Improvements in GPE and LOC were offset by reduced profits elsewhere.
GPE weather losses at MONEY were MONEY higher than in DATE. Together with the reserving for environmental claims this turned a QUANTITY profit in the GPE in DATE into a QUANTITY loss and more than offset an improvement in the core book of business, the company said.
In GPE, a PERCENT fall in profits reflected an increase in the frequency and average cost of personal lines claims, changes in claims reserving and continuing competition.
Life profits increased by PERCENT to MONEY with increases in both NORP and overseas operations.
($ = 0.620 British Pounds)","GPE and the NORP republic will initial a long-awaited declaration on EVENT reconciliation between their CARDINAL states on DATE in GPE, the NORP foreign ministry said on DATE.
A ceremony ending the DATE talks on the text will be held with NORP Foreign Minister PERSON and GPE's PERSON in the ORDINAL part of a CARDINAL-stage confirmation.
The ministry said in a statement that the CARDINAL would ""sign a protocol on the completion of negotiations of the NORP-German Declaration of mutual relations and their future development"".
The full declaration, leaked to news media DATE, contains mutual expressions of regret for the NORP occupation from DATE and for excessive brutality during the post-war expulsion of ethnic NORP from former GPE.
The text angered groups representing families of expelled NORP, known as PERSON, who complained that it did not compensate those who lost property during the expulsions.
But ORG (ORG), the political sponsors of LOC, signalled on DATE it would no longer oppose the agreed text.
""By and large, the declaration will stand,"" Finance Minister and ORG chairman PERSON told reporters.
The NORP-based ORG has in the past hinted it could use its weight in the government to block the declaration or oppose GPE application to join ORG unless the Sudeten NORP were given better terms.
But PERSON said it was a ""great success"" that GPE had gone as far as it had in apologising for the expulsions.
In the NORP parliament the mainstream parties have backed the declaration, but the extreme-right ORG and far-left NORP have ruled out voting for it in any form.
Members of the largest NORP opposition party, the NORP, whose votes may be crucial for approval by parliament, said on DATE that they still had concerns about vaguely-worded compensation for victims of NORP aggression.
""(The party) has done all it can for the declaration to be accepted, but it still expects a bit more work (on the text),"" a ORG NORP senator from the once NORP-annexed district of ORG, PERSON, told NORP Television.
PERSON, the head of the NORP caucus in the house, was quoted in the daily Pravo on DATE as saying he would not vote for the declaration in its present form.
The declaration sets up a ORG with the NORP side paying in MONEY (MONEY), and the NORP paying CARDINAL of that.
The text says the fund is to finance ""projects of common interest"" including joint environmental, historical, and scientific projects, youth meetings, and partnership projects.
But the text adds that: ""The NORP side acknowledges its obligation of responsibility to all who became victims of ORG violence. That is why the projects, wherever appropriate, should work mainly for the benefit of the victims of ORG violence.""
Diplomats said privately that the signing ceremony might take place somewhere outside GPE, but NORP officials said DATE it would not take place in those areas which GPE annexed in DATE, known as the ORG.
GPE is not part of the area GPE considered as the ORG.
NORP Chancellor PERSON is expected to visit GPE, probably on DATE, to sign the text with NORP Prime Minister PERSON.
In DATE NORP President PERSON and NORP President PERSON are expected to address the parliaments of each other's countries in ceremonies giving final approval to the declaration.",0
"GPE's aluminium industry has roared back to life with strong DATE output figures and forecasts of small growth, but analysts say no new investments which could fundamentally reshape the sector are on the horizon.
""The situation for the NORP aluminium industry is quite stable and healthy,"" said a GPE-based spokesman for ORG, which controls major stakes in key NORP smelters.
The ORG producers' group put DATE NORP primary aluminium output at QUANTITY, up from earlier estimates of CARDINAL and above DATE's CARDINAL.
It said output in GPE, CARDINAL of the world's top producers with PERCENT of global output, would rise PERCENT in DATE, but it had not yet compiled export data.
GPE's total primary aluminium capacity -- some still idle after a DATE global output-cutting deal expired in DATE -- is QUANTITY.
GPE is one of the least transparent of world producers and sensitive markets are keen to know of plans to increase or improve production.
""There was a generally-held view in DATE that output would fall back because of alumina shortages,"" said PERSON, mining analyst at ORG in GPE.
But he said Western trading houses became more active in GPE DATE to smoothe out raw materials supply problems and that the DATE output figure was strong but not surprising.
While output may inch up DATE, big infrastructural changes are not yet on the horizon -- in spite of the fact that smelters plan strategic alliances with each other and Western commodities houses are major shareholders in some plants.
""I don't see any serious investments in modernisation in GPE aluminium in DATE,"" said a senior ORG source, citing fears over shareholder rights that scare deep-pocketed investors.
NORP smelters spent DATE complaining about rail tariff and production costs and can still only dream of the integration and long-term energy contracts that Western smelters have.
While these CARDINAL items are still major factors dividing the NORP industry into the profitable NORP smelters and loss-making plants in western GPE, other concerns will come to the fore in DATE.
""Companies are going to focus on the raw materials question a lot -- on how to get alumina,"" said the ORG source.
PERCENT of the region's alumina, the raw material used to make aluminium, is in former NORP countries like GPE, GPE and NORP, and the old planned-economy NORP-era links that once guaranteed steady supplies have disintegrated.
GPE has CARDINAL functioning alumina plants which meet CARDINAL of demand, and smelters are hungrily eyeing GPE's DATE and GPE's GPE alumina plants.
CARDINAL metals source said smelters were so desperate for alumina that they were extracting it from the mineral nepheline, in a costly and obscure procedure used almost nowhere else in the world, instead of from the more traditional bauxite.
Scarce raw materials are the GPE heel of GPE's big southern NORP smelters, which account for PERCENT of NORP primary aluminium output and are fuelled by vast amounts of electricity generated by LOC's mighty rivers.
The Bratsk, GPE, GPE and GPE smelters are CARDINAL km (QUANTITY) from the nearest port-based export outlet and functioning alumina sources -- vast distances which carry expensive rail tariffs.
GPE's largest alumina plant, PERSON, is in the region, but it is bankrupt and barely producing at any of its capacity of QUANTITY a year.","ORG DATE will unveil a set of software technologies that lets programmers more easily create software for sharing information through corporate and public computer networks.
ORG executives, including Chairman PERSON, also will discuss at an event in GPE development plans for the company's Windows family of operating systems, the company said DATE.
At CARDINAL of its periodic Professional Developers Conferences, ORG executives will encourage programmers to write commercial software based on ORG's standards.
ORG's event will be held DATE ORG, ORG's biggest rival in the corporate software business, is holding a conference in GPE to pitch its own approach to writing programmes for shuffling information through huge networks.
Both companies in DATE have been retooling their key applications and networking software to work on the Internet's World Wide Web and internal corporate networks called intranets.
Writing even simple programmes to let computer users collaborate on documents through networks tradionally has required intimate knowledge of difficult programming techniques.
The technology ORG will unveil on DATE will relieve programmers of the need to know the secret handshakes of its Windows operating systems, said PERSON, a ORG group product manager.
The move would encourage developers to base more of their commercial products on ORG's Windows NT networking operating system, analysts said.
Oracle has a similar aim.
On DATE, the company will unveil its own tools for writing intranet software for tapping information stored in NORP databases, ORG executives said.
Corporate programmers have written huge libraries of financial, manufacturing and human resources software using ORG's products. The new programming tools would let programmers easily convert the libraries to work on the Web, ORG said.",0
"ORG stock and cash share offer is worth MONEY per ORG share at DATE's closing ORG share price, ORG chief financial officer PERSON told ORG.
The deal is an offer of CARDINAL new ORG (ADS) in the new combined group, named PERSON, for every ORG share. Each PERSON ADS is equivalent to CARDINAL ORG and $MONEY cash.
BT ADS's closed at $MONEY-1/2 in GPE, giving a value of $MONEY per ORG share plus $MONEY cash per share before the effect of a buyback by ORG which is part of the deal, GPE said.  
ORG said PERSON will make a buyback of PERCENT of its shares after the closing. The maximum buyback would increase the value of the deal to ORG shareholders to $MONEY per ORG share.
""The buyback is very important to us,"" GPE said, adding that it was designed to offset some of the skewed stock ownership patterns which often happen in a transnational merger.
GPE said that PERCENT of ORG shares held by owners other than ORG would translate into a holding of PERCENT in the combined Concert company.  
The terms value ORG at a total MONEY before the effect of the buyback, but as ORG already owns PERCENT it need only issue Concert stock and cash worth MONEY.
The new ORG company will have CARDINAL shares in issue, including CARDINAL new shares issued for ORG.
GPE said the buyback would be available to all shareholders, and didn't expect problems with GPE tax law.
NORP tax complexities have been an obstacle recently to some companies' planned distributions of cash to shareholders in GPE.
ORG shareholders will receive the full GPE dividend for DATE providing the merger closes before ORG's DATE.  GPE said that GPE shareholders would be PERCENT better off from the dividend proposals.
""A dividend from a GPE company is worth more to a GPE taxpayer than a dividend from a GPE company because of the way the ORG (advance corporation tax) works, and because in the GPE you don't double tax dividends,"" GPE said.
BT said it is planning a PERCENT increase in GPE dividends for DATE, but did not give the figures for ORG dividends.  
Each BT ADS is worth CARDINAL ordinary ORG shares, so the MONEY GPE dividend for DATE translates to CARDINAL stg per ADS, translated into dollars at the exchange rate prevailing at the record date in DATE.
For DATE, ORG paid $MONEY per ADS.  -- New York Newsroom CARDINAL 859 1610","ORG, the mobile telephone venture owned by ORG and CARDINAL regional ORG, expects a tougher fight with ORG in the wireless market than with ORG .
PERSON on DATE launched ORG (ORG) in CARDINAL cities, offering tiny phones with more features, longer battery life and clearer sound than cellular.
""With AT&T we believe we have a clearly discernible quality advantage, with ORG..we felt it was important to be to market ORDINAL,"" chief executive PERSON told ORG.  
PERSON and ORG both use the same technology, called code division multiple access (CDMA), so it would be much harder to claim a quality advantage, ORG said.
""WORK_OF_ART have a good brand for long distance, it remains to be seen whether we can have a better brand for wireless services,"" ORG said.
AT&T, ORG and ORG -- owned by ORG, ORG, ORG as well as ORG -- are the CARDINAL firms which spent enough on ORG licenses in DATE to build national networks.  
While every ORG operator starting up will make easy comparisons with analog cellular, the real fights will begin in DATE CARDINAL when there are CARDINAL or CARDINAL ORG operators and CARDINAL digital cellular operators in every market, analysts said.
The better the brand, the less any competitor will have to resort to cutting prices, according to business models. Winning the marketing war will be at least as important as the technical wizardry that allows the phones to work.  
By DATE, ORG expects ORG will be spending about as much on advertising as ORG does. ORG doesnt break out its ad spending, but is thought by analysts to spend MONEY a year.
""As an alliance our spending will be very competitive with those levels (of AT&T),"" he said.
GPE has already spent MONEY building its ORG network, on top of MONEY for licenses. When the network is complete the total bill may reach MONEY.  
Nevertheless, ORG said GPE is on target to reach a CARDINAL on earnings before interest, taxes, depreciation and amortization in DATE.
ORG in DATE launched ORG PRODUCT, which does not use ORG license frequencies but a digital version of cellular services. However it does offer features similar to ORG, including call waiting, voicemail and long battery life.
AT&T will start offerings its real PCS service DATE.
Arcane arguments continue to rage in the industry about which of the myriad technical standards is best, but all agree that ORG in all its forms is far better than analog cellular, which is what the vast majority of GPE users still have.
ORG, an affiliate of ORG, was the ORDINAL to offer ORG in the country, starting DATE with a service in GPE and GPE.
However this service uses time division multiple access (ORG), a technology which is currently incompatible with the CDMA network ORG plans to build elsewhere across the country with its cable TV partners.
-- ORG CARDINAL 859 1610",1
"A unit of ORG, a fast-growing, GPE-based energy company, DATE launched a MONEY takeover bid for NORP regional utility ORG, which promptly rejected the unsolicited offer.
The offer was the ORDINAL for ORG in DATE and the ORDINAL for a NORP power company by a GPE utility. Industry analysts said ORG might end up agreeing to a takeover if it could extract a higher price.
GPE, DATE ORG, through its PERCENT-owned ORG unit, said it would pay MONEY ($MONEY) for each common share and MONEY ($MONEY) for each preferred share of ORG, valuing the company at MONEY. The U.S.-based construction and mining company PERSON owns PERCENT of ORG.
GPE-based ORG successfully fended off a hostile bid DATE from ORG, now owned by GPE's PERSON, by offering a special package worth MONEY (MONEY) for shareholders.
""Our strategy is to become a leading global provider of a full range of energy services,"" ORG Chairman PERSON said in a statement announcing the offer.
ORG's company has invested in geothermal and other energy projects at home and in GPE and the GPE in DATE. Its core operations are in GPE, GPE and GPE, and the bid for ORG is a major move outside the GPE market.
GPE utilities, faced with slow growth and deregulation in their local markets, have been merging in GPE and investing abroad as they seek to grow.
ORG said ORG had distribution and supply know-how that would complement ORG's production capacity, while its size was ""very manageable.""
""They are the smallest regional electricity company and that means that you can get them cheaper,"" said CARDINAL analyst who asked not to be identified.
""We will see an agreed bid eventually,"" said PERSON at brokers PERSON, who said ORG might eventually raise its price to secure agreement from ORG's board of directors.
In its statement rejecting the bid, ORG said that in talks through DATE, ORG had contemplated offering MONEY ($MONEY) per ORG share.
""ORG is clearly saying you can have us for MONEY per share,"" said CARDINAL sector analyst who asked not to be identified.
ORG, which bought a PERCENT stake in LOC in the open market, said that it never suggested ""any intent to value the company at 'around MONEY per share' or even anywhere close to this figure.""
ORG said he felt the offer was ""a very full price,"" adding that ORG had sought a merger agreement with ORG but ""the only area we could not agree on was value.""
Some analysts said ORG weak balance sheet would limit what ORG would bid and that it might be hoping to attract another bidder. The shareholder package paid to fend off PERSON left it heavily in debt.
ORG stock jumped MONEY ($MONEY) to close at MONEY ($MONEY) after ORG had managed to buy its PERCENT stake at the offered price earlier in the session.
ORG announced in DATE that it bought CARDINAL gas-fired cogeneration plants in GPE, GPE and GPE for MONEY from ORG, a closely held energy company.","ORG unveiled a new plan DATE to boost sales of computer encoding technology, considered a key component of global communications and the development of commerce over the Internet.
The plan is intended to foster the growth of online commerce worldwide while still abiding by strict GPE export laws limiting the sale of encryption products abroad.
Sales of goods and services over the Internet are booming but still lag well behind traditional sales by telephone or in person. Some businesses say that consumers are nervous about sending credit card numbers or other sensitive information over the Internet, where it could be intercepted by criminals.
Encryption scrambles information, such as a credit card number, while in transit so that it can be read only by the intended recipient using a password or a software ""key.""
""The bad news is that, unless you encrypt your information, it's very easy for electronic eavesdroppers to have a look at what you're transmitting,"" said PERSON, senior vice president at ORG, a ORG partner in the new encryption framework.
The ORG plan is ""the ORDINAL government-approved encryption framework removing a significant barrier to making the Internet secure for business transactions and electronic communications,"" company Chief Executive Officer PERSON told a news conference in GPE.
ORG, another partner in the effort, said it plans to incorporate encryption into its market-leading computer hardware products.
Federal export laws prohibit the sale of strong encryption technology outside GPE. DATE, President PERSON signed an executive order liberalising but not eliminating the export rules.
Companies will be allowed to sell products with strong, built-in encryption features but only if the products also contain a feature that allows the government to break the codes when acting under a court order or similiar authority.
The administration said law enforcement authorities need the ability to decode messages by having access to the software keys, a system called key recovery or key escrow, in order to keep tabs on criminals and terrorists.
Under the ORG framework, powerful encryption features in a new computer or software could be automatically disabled if the product is sold abroad and does not permit government decoding.
That may not be enough to satisfy those opposed to the administration's policy, including some businesses and civil libertarians.
""It's not a solution for us,"" said PERSON, staff attorney at ORG, a civil liberties group that focuses on cyberspace issues. She said people should have the right to use encryption free of government-mandated escrow.
""The government is just strong-arming some companies by saying if you want to use strong encryption at all, you have to have key escrow,"" PERSON said.",0
"GPE Undersecretary of ORG PERSON has arrived in GPE for talks DATE with NORP officials on arms proliferation, a spokesman at ORG in GPE said on DATE.
PERSON would lay the groundwork for a visit by GPE Secretary of ORG PERSON DATE, his ORDINAL to GPE since a DATE trip that ended in disaster because of wrangling over human rights issues.
Deputy Assistant Secretary of ORG PERSON flew into GPE DATE for expert talks ahead of PERSON' visit, nthe spokesman said.
""Expert talks are going on DATE and she (PERSON) will have her main talks on the ORDINAL and the ORDINAL on security issues and on proliferation issues,"" the spokesman said.
""She'll be going back to GPE to report to the Secretary of ORG,"" the spokesman said, adding that arms control would be just CARDINAL of many issues PERSON would bring up with his NORP hosts.
""He (PERSON) has a lot of things on his agenda,"" the spokesman said.
NORP-U.S. ties have long been strained by disputes over human rights, GPE, copyright theft in GPE and GPE's terms of entry to ORG.
GPE has expressed deep concern over the GPE court sentencing of prominent NORP pro-democracy activist PERSON on DATE in prison for plotting to overthrow the government.
Officials in GPE have said PERSON also would discuss how the CARDINAL countries might implement a DATE peaceful nuclear cooperation pact that could allow sales of GPE nuclear power reactors to GPE.
The accord, signed in DATE, has not been put into effect because of GPE suspicions that GPE is peddling nuclear technology to unsafeguarded nuclear facilities abroad, most notably to GPE. Both GPE and GPE deny the charges.
GPE agreed DATE not to provide aid such as ring magnets and other devices used in making nuclear arms to unsafeguarded nuclear facilities.
GPE officials have insisted they have no evidence GPE has violated the DATE agreement and say a reported nuclear-related deal between GPE and GPE was struck before the accord was drawn up.
GPE has tried to lure foreign technology, some of it with potential military value, with promises of lucrative business contracts.
PERSON would also renew GPE concerns over NORP sales of conventional arms to GPE, which GPE has blacklisted as a sponsor of terrorism.
GPE is investigating reports that GPE and GPE are close to a deal to sell GPE CARDINAL NORP helicopters that could be armed with air-launched missiles.","GPE confirmed on DATE that veteran dissident PERSON had fled the country, accused him of crossing the border illegally and said NORP authorities were pursuing those who helped him.
""Concerning the question of PERSON, this is a case of illegally and secretly crossing the border,"" ORG spokesman PERSON told a regular news briefing.
""The judicial authorities are currently pursuing the legal responsibilities of PERSON and the plotters,"" Shen said, apparently implying that ORG had help when he fled to GPE DATE.
ORG, DATE, CARDINAL of GPE's most vocal advocates of democracy for DATE, escaped to GPE DATE after a fellow activist in GPE was condemned to a labour camp for DATE.
""We hope that countries concerned will not have the slightest ambiguity in cracking down on illegal and secret immigration,"" Shen said.
ORG has been missing from his home in the southern NORP province of GPE that abuts GPE since fellow pro-democracy activist PERSON was arrested in GPE DATE and ordered to serve DATE in a labour camp.
He is reported to be seeking asylum in GPE but Shen said GPE had received no official confirmation that ORG had sought refuge there.
""We have not yet seen any action by GPE,"" Shen said, adding that GPE would watch ORG's case closely.
""The governments of some countries, including GPE, should carry out what they have always stressed, namely their stand to crack down on illegal immigration,"" he said.
PERSON and PERSON penned a daring statement DATE accusing the ruling ORG of reneging on a DATE pledge to grant freedom of the press and to allow people to form political parties and stage demonstrations.
The CARDINAL urged the impeachment of ORG chief PERSON for violating the constitution by saying the army should answer only to the party rather than to the state.
PERSON would be the ORDINAL NORP dissident to flee to GPE via GPE DATE. PERSON fled to GPE DATE and has since found asylum in GPE.
PERSON was ORDINAL jailed in DATE on charges of sedition for putting up a wall poster advocating democracy in GPE. He was paroled in DATE after serving DATE of a DATE sentence and stripped of his civil rights for DATE.
The report of ORG's flight abroad comes amid a renewed crackdown on GPE's tiny, struggling democracy movement.
PERSON, who spent DATE in prison as a leader of the DATE student-led demonstrations for more democracy, fled to GPE DATE after DATE of police harassment at his home in the northeastern province of GPE.
Detained dissident and former leader of the DATE protests PERSON faces the capital charge in GPE of plotting to subvert the government based on evidence such as writings critical of the state and accepting funds from abroad.
PERSON, detained since DATE, has been charged with plotting to overthrow the government -- a crime that carries a maximum penalty of death and a minimum of DATE in prison.
PERSON had defied persistent police surveillance and harassment to take part in a bold appeal in DATE to GPE for the release of all those still in prison for their part in the DATE student protests.",1
"GPE's state oil holding firm ORG said on DATE it would protest against a local decision to award ORG the right to tap LOC oilfields, signalling GPE's tougher line towards Western energy companies.
Rosneft spokesman PERSON said ORG, which regional officials declared the winner of a tender to develop the ORG oilfields in the northern NORP-Pechora area, would be given too many privileges.
""ORG's bid violates the terms of the tender in that it would give ORG the exclusive right to these resources as well as the right to tell the NORP side under what terms it should work,"" he told ORG.
The protest is the most concrete evidence to date that GPE, in a significant change of policy, is serious about giving its own oil companies a greater role in developing NORP oilfields.
The legal basis upon which ORG -- which bid jointly with a subsidiary and ORG in the tender -- would protest was not immediately clear.
ORG officials could not be reached for comment.
""What are you talking about; how can they protest this?"" said PERSON, deputy head of the ORG oblast regional administration and a member of the region's Nenets autonomous district tender committee that on DATE declared ORG the winner.
""Everything was done absolutely normally.""
Under the tender, ORG would have a PERCENT stake and conduct negotiations to bring ORG, NORP oil firm KomiTEK and exploration body PERSON in to split PERCENT in a production-sharing contract.
Rosneft is the state's agent in all production-sharing contracts and has the right to dispose of the state's share of output from such deals.
PERSON said that under the original terms of the NORP tender, no foreign firm had the right to tell the NORP side how to work.
""ORG did not conduct negotiations with us when it bid and its proposal gives it an exclusive right to the reserves,"" he said.
The quarrel over who will develop the fields, which contain QUANTITY of oil and require MONEY to develop, underscores the ambivalence GPE feels about attracting foreign oil investment.
CARDINAL the one hand, it desperately needs the money. On the other hand, it is loath to repeat the kind of contracts signed to develop reserves off LOC island of LOC, contracts in which foreign firms hold PERCENT stakes.
""CARDINAL -- what's the problem?"" said PERSON.""As a NORP, I agree we should support our companies. But if our companies don't have the money or financing, we have to do something else.""
The squabble is the ORDINAL test of how much more difficult GPE could make it for Western oil companies seeking to tap big reserves.
PERSON said ORG had wanted ORG to form a consortium with at least some of the other bidders, including the informal LAW alliance, ORG, Total SA of GPE and ORG ASA.
But the idea had received little support, he said.
PERSON, +7095 CARDINAL 8520","GPE, hoping to boost industrial output, announced plans on DATE for lower electricity and rail transport prices, cheering energy-hungry aluminium plants but worrying Western economists.
President PERSON press service said PERSON had signed a decree at the DATE cutting wholesale electricity charges for industrial and residential customers from DATE by PERCENT from their DATE levels.
The decree also promised to rein in runaway rail transport charges, saying tariffs for transport by rail on electric locomotives would be set by the new electricity pricing rules.
PERSON's decree also promised to create a wholesale natural gas market by DATE.
By bringing order to unruly pricing structures, the decree also aims to improve tax collection.
Privatised aluminium smelters in GPE, CARDINAL of the world's largest producers, said the new rules would help them save them money as electricity and transport are CARDINAL of the major costs in producing and exporting the non-ferrous metal.
But PERSON's decree aroused doubt from Western economists, who called it little more than a short-term way of plugging the budget deficit and unsustainable in the long run.
""Of course this makes us happy,"" said a representative in GPE of the big GPE aluminium smelter.
But he declined to say how it would affect output.
""It's not sustainable in the long term,"" said a top Western economist. ""Over the short term, it will reduce production costs, but it does nothing to solve nonpayments.""
PERSON, managing director of PERSON-based ORG, said that GPE's average industrial electricity prices were already much higher than world charges.
But NORP smelters rarely pay full price, thus helping to fuel a massive non-payments cycle in which aluminium plants -- a major consumer of electricity -- owe regional utilities for supplies, who in turn owe the state unpaid taxes.
PERSON's decree is partly designed to break this cycle.
The decree also said gas and electricity producers would be liable for excise and profits tax on proceeds from collecting debts for their supplies, as long as these proceeds did not fall below the actual cost of producing and transmitting supplies.
That means it could become easier for utilities to collect money from aluminium producers and other industrial customers.
Arlyuk said domestic electricity tariffs vary greatly, with the NORP aluminium smelter in the NORP part of GPE charged the rouble equivalent of $MONEY per megawatt hour, and using QUANTITY to produce each tonne.
But rates at the giant ORG smelter in LOC were the equivalent of $MONEY per megawatt hour -- the same, ORG said, as in big aluminium producing countries like GPE and GPE.
Bratsk, using QUANTITY per tonne of produced aluminium, spent MONEY per tonne on electricity compared to MONEY per tonne for NORP.
PERSON, a utilities analyst at ORG, said that partly privatised national power company Unified Energy System (RAO Yedinaya Energeticheskaya Sistema) would see lower revenues.
But he said its cash flow could improve since it would be taxed only when paid for deliveries, and not before.
Still, PERSON, head of tariffs at the aluminium producers' group ORG, said he doubted regional utilities would be happy to receive less for their supplies.
""This is not the ORDINAL time we've seen something like this, and some regional utilities may put up a fight.""
ORG owns CARDINAL power plants and holds PERCENT stakes in most of the privatised ""energo"" regional utilities.
Electricity and rail tariffs have risen faster than the overall producers price index, prompting ORG officials to seek ways to give industrial producers a break.",1
"Worries about regulatory hurdles and DATE to completion took the edge off market euphoria over ORG merger with ORG, analysts said on DATE.
ORG shares were trading on DATE TIME CARDINAL firmer at CARDINAL, well adrift of a theoretical value that oscillated MONEY per share, based on the price of ORG depositary shares.  
""The arbs are probably demanding QUANTITY on this deal because of the lengthy time to closing and the uncertainties of GPE regulatory approval,"" said analyst PERSON of ORG.
The deal is an offer of CARDINAL new NORP depositary shares in the new combined group, named PERSON, for every ORG share. Each PERSON ADS is equivalent to CARDINAL ORG depositary share and $MONEY cash.  
Analysts noted a yawning gap between the value of the deal taken by using ORG shares in GPE and the ORG shares, and a fuzzy debate about how much of the $MONEY BT special dividend should be deducted from the ADS price.
""It depends on what you use as the implied exchange rate,"" said analyst PERSON of ORG. At DATE's QUANTITY equals $MONEY, the ORG shares look to be too far ahead.
In any case the final calculations will seesaw with changes in both ORG's stock price and the exchange rate.  
Given the broader uncertainties, arbitragers didn't expect to push up the shares to the point where they would have to go over the details looking for DATE.
""ORG is trading where is should, in line with ORG based on DATE transaction, and figuring ORG holders not getting the special (BT) dividends,"" CARDINAL arbitrager said.
Analysts say the market is not expecting much of the possible buyback of PERCENT of ORG shares, which could take place after the deal closes.
PERSON said that though a buyback spreads a given level of earnings over fewer shares, the cost of purchase show up in operating earnings as higher interest charges.
By how much earnings per share improves hinges on how much cheaper debt is than equity, analysts say.  -- New York Newsroom CARDINAL 859 1610","NORP government-owned airport operator ORG (ORG) sees some life after the planned privatisation of its CARDINAL airports, chief executive officer PERSON said.
""We will eventually go out of existence if all CARDINAL airports that we currently own and operate are eventually disposed of to other owners,"" PERSON told ORG in a telephone interview.
""CARDINAL thing we do hope will survive is our service group called FAC, which we are trying to build into a viable business for the long run,"" PERSON said.
PERSON said ORG Consultancy would be a group of CARDINAL people, with specialist knowledge of the aviation industry and property management.
""We hope to sell those services at arm's length to the remaining airports and to new airport owners,"" PERSON said.
The NORP government has CARDINAL consortiums shortlisted for bidding in its ORDINAL sale phase which consists of DATE leases for GPE, GPE and PERSON airports. These are expected to sold in DATE.
The sale of Adelaide lease was supposed to be part of the ORDINAL phase, but was delayed for an upgrade.
The remaining CARDINAL airports, including GPE and the yet-to-be-built ORDINAL airport at GPE, will be sold in CARDINAL or more future tranches.
""By DATE I would imagine that they would have all gone with the possible exception of GPE, if that is held back because of the EVENT,"" PERSON said.
GPE will host the DATE EVENT.
PERSON said the sale timetable was uncertain and the whole process was quite unsettling for ORG staff, as one of the major problems for the corporation was staff leaving to join the various consortiums.
Former ORG chief executive PERSON is the acting chief executive of ORG, a consortium bidding for GPE, GPE and GPE.
In DATE, ORG reported a PERCENT rise in net profit to MONEY in DATE on a PERCENT rise in revenue to MONEY, while passenger volume at the airports grew PERCENT.
""Passenger growth seems to be holding up quite well and we are expecting a continuing strong performance in that area...and we are hopeful that kind of growth rate will continue,"" PERSON said.
""We are confident that revenue growth would follow similar growth.""
PERSON said the ORG would try to minimise capital expenditure ahead of its privatisation, although FAC may need to be upgraded. ""We do expect significant work at GPE to cater for terminal growth within in DATE.""
GPE is GPE's busiest airport.
PERSON said the ORG had been in talks with freight operators with a view to expand freight facilities at some of NORP airports.
""It is apparent now that freight is attracting more interest,"" PERSON said. However, he added any expansion of freight facilities was unlikely to involve major sums of money.
-- Sydney newsroom CARDINAL-2 9373-1800",0
"Increasing pressure from customers to hold down prices will keep a profit squeeze on GPE medical device manufacturers in DATE, although the sector's biggest firms are expected to show healthy growth.
Other variables looming over the industry are the naming of a successor to departing ORG Commissioner PERSON and ORG' mood on healthcare.
""Expectations are still for a positive environment from a GPE standpoint, but I don't think you can take that for granted,"" said ORG analyst PERSON.  
After DATE, PERSON announced his resignation from the ORG DATE. ORG has not named a replacement. ""Questions like who replaces PERSON are going to have a big impact on whether new products get approved quickly,"" PERSON said.
Congressional and ORG sentiment on reforming the GPE healthcare industry is lukewarm at the moment, but could reemerge as an issue, analysts said.
""Meanwhile, managed care marches on and that will have an impact,"" said PERSON analyst PERSON.  
Health maintenance organizations, hospitals and others that buy medical devices -- such as pacemakers, catheters and heart valves -- are squeezing device makers for lower prices. That has cut into profits and limited the growth potential of some companies, analysts said.
""You're going to continue to see greater and greater market pressures,"" PERSON said.
In search of growth, many device companies are looking overseas and finding opportunity. ""To grow the top line, you've got to move outside GPE,"" said PERSON analyst PERSON.  
Partly as a result, the sector's biggest firms -- those with global reach -- had the best DATE and are widely expected to lead the pack again DATE. Companies such as ORG, ORG and ORG are widely seen as market outperformers for DATE.
""I'm looking probably for PERCENT-plus earnings growth from them ... Those stocks will probably perform a little bit better than the market,"" PERSON said.  
Possibly less rosy is the general outlook for small device companies. ORG pointed out that Nasdaq medical technology stocks severely underperformed the ORGamp; Poor's CARDINAL Stock Index DATE, while larger listed issues topped the index, mirroring a dichotomy seen in other industries, as well.
""We're optimistic that ORG med tech issues will outperform DATE,"" ORG said.
Smaller and mid-sized firms named by analysts as potential DATE winners were ORG, ORG, ORG, ORG, and ORG
On the technology front, growth was expected to continue to be strong for stents, which shore up the insides of diseased blood vessels, and implantable defibrillators, which treat too-rapid heartbeat.
Key products expected DATE from industry giant ORG include an atrial fibrillation device, a device for continually recording electrocardiogram readouts to help diagnose unexpected fainting, a new stent and an implantable drug pump for cancer patients, ORG said.
((--Chicago Newsdesk 312-408-8787))","Shareholders are pushing harder for change at ORG, which said DATE a major investor is proposing that the company hire investment bankers to examine further sales of non-core assets.
PERSON, based in GPE, GPE, also has hired an executive recruiter to assemble an alternate slate of nominees for CARDINAL WMX board seats coming open DATE, including ORG chairman PERSON seat,  said a Lens spokeswoman.
""The battle lines are being drawn here,"" said ORG industry analyst PERSON.  
WMX, the largest GPE garbage hauler with MONEY in DATE revenues, has been under investor attack for DATE. Not only PERSON, headed by PERSON, but billionaire PERSON and others are among WMX shareholders demanding changes.
The company has responded by repurchasing shares and selling off pieces of its ORG unit, its stake in ORG and most of its medical waste business. The sales have raised MONEY in cash.
Yet ORG's stock price has hardly budged, prompting the activist stakeholders to press harder still for management changes, new directors and more asset sales, analysts said.  
""Management has been moving in this direction and the stock price has responded moderately, but I don't think to anywhere near the level that investors want,"" Mannis said.
Shares in WMX were off CARDINAL at CARDINAL DATE, compared to a DATE high MONEY in DATE. DATE, they were trading in the $MONEY per share range.
""Between now and the DATE meeting (DATE), management has its opportunity to once and for all...show the Street its plan for enhancing shareholder value. If they don't do that, I think investors are going to look at some of the proposals PERSON is making,"" Mannis said.  
ORG owns CARDINAL shares of ORG, or PERCENT of the company, according to ORG.
PERSON's stake is reportedly much smaller than PERSON's.
The latest proposal from Lens on selling non-core assets contains little new, ORG spokesman PERSON said.
""The proposal is consistent with the things the company is already aggressively pursuing, essentially affirming our strategy,"" PERSON said. ""We have other equity investments remaining. We have other businesses that are non-core and we have under-performing businesses.... We have been working with various financial advisers to enhance shareholder value.""
Credit Suisse ORG industry analyst PERSON said WMX on its own will likely fulfill PERSON's and PERSON's agenda. ""These guys would just like it to happen faster,"" PERSON said. WMX has ""done a lot of the easier things. Now it gets a little more challenging.""
An obvious next step for the company would be to authorize more share buybacks, ORG said.
WMX could still sell off certain GPE interests, as well as its equity interest in PRODUCT, analysts said. Whether such steps are taken before the DATE meeting remains to be seen, but in the meantime, PERSON and PERSON can be expected to keep the pressure on.
""This is just another volley in the skirmish,"" said ORG industry analyst ORG.
WMX is scheduled to report DATE financial results in DATE.
((--Chicago Newsdesk 312-408-8787))",1
"GPE stocks rallied to close higher on DATE, surging ahead on strength in the important resource sectors.
""NORP gold stocks led NORP stock prices higher,"" said PERSON analyst PERSON in a market report. ORG key CARDINAL Composite Index jumped CARDINAL points to reach CARDINAL points.
So far in DATE the key index has climbed out of its DATE lows to reach heights it has not hit since DATE.
""We're not far from our highs,"" said P and ORG president PERSON. GPE's key index hit its all-time high of CARDINAL points on DATE.
At this point in the bullish economic cycle, market players are investing in resource stocks, ORG said.
Trading reached CARDINAL shares valued at MONEY (MONEY.)
Markets are also now debating whether ORG will ease short-term interest rates since ORG did not raise rates at its meeting DATE, analysts have said.
GPE's central bank can risk the rate cut without excessively widening bond spreads between the CARDINAL nations. This may help boost interest in equities.
Golds led all of GPE's CARDINAL sub-indices higher, gaining PERCENT. They were followed by transportation issues, base metals and media issues.
Advancing stocks beat out declining ones CARDINAL to CARDINAL, while CARDINAL traded unchanged.
Among active stocks, heavyweight ORG jumped MONEYMONEY.
Black Swan Gold Mines Ltd. was GPE's most active stock in turnover of CARDINAL shares. The small prospector slipped CARDINAL to CARDINAL after recent strength as investors await drill results.
-- ORG (CARDINAL) 941-8100","The GPE stock market joined a rally in bonds and finished stronger on DATE, resisting a late session downturn in GPE and weakness in heavyweight gold stocks.
GPE's key CARDINAL Composite Index rose CARDINAL points to close at CARDINAL. CARDINAL shares changed hands worth MONEY (MONEY).
""It's the strength in the bond market and the bill market,"" said ORG analyst PERSON.
NORP bonds rallied after GPE gross domestic product data released DATE suggested inflation is not accelerating. The data eased fears of higher GPE interest rates following DATE rate-setting ORG meeting.
GPE's benchmark DATE bond jumped C$MONEY to close at C$MONEY, yielding PERCENT.
The Dow Jones Industrial Average closed down CARDINAL points at CARDINAL, but partly recovered from earlier lows due to profit taking, analysts said.
In GPE, the ORG suffered losses in CARDINAL of CARDINAL sub-groups. The key gold sector lost PERCENT followed by conglomerates, transportation and base metals.
The strong side was led by retail, pipelines, forestry products and consumer products.
Advancing issues outpaced declines CARDINAL to CARDINAL with CARDINAL stocks unchanged.
Among hot stocks, high technology firm ORG fell CARDINAL to CARDINAL on turnover of CARDINAL shares after reporting relatively flat DATE profits.
ORG rose CARDINAL to close at CARDINAL. ORG said after the market closed on DATE that it is bullish on LOC and will seek further business in GPE.
Takeover target ORG fell CARDINAL to close at CARDINAL on CARDINAL shares as it battles a hostile bid from ORG
Canadian 88's stock dipped CARDINAL to finish at CARDINAL on CARDINAL shares.",1
"NORP Prime Minister PERSON announced a state commission on DATE to attack bureaucracy in the land of PERSON.
It will have a steering committee, a chairman, CARDINAL vice-chairmen, CARDINAL sections, CARDINAL sub-commissions and more members than the ORG's cabinet.
But ORG denied suggestions that the new ""WORK_OF_ART"" would pour fuel on to the fire, telling a news conference that the only bureaucrat working at the commission would be a secretary. 
The other staff, numbering around CARDINAL, would perform their duties part time, said ORG, whose cabinet has CARDINAL members.
The NORP bureaucracy, crafted by the LOC-Hungarian empire and perfected under communism, inflicts DATE misery on local and foreign residents alike.
PERSON, the GPE novellist of DATE, wrote of angst born of bureaucracy in such works as ""WORK_OF_ART"" and ""WORK_OF_ART"".
Things DATE do not seem much better. Applications for documents such as company registrations, licences and work permits can take DATE or DATE to process.
They can involve repeated visits to offices where citizens have to queue patiently sometimes for hours waiting to be summoned by often surly bureaucrats. Knocking on office doors for attention is strictly forbidden.
ORG said the commission should aim to simplify issues like setting up a business, getting construction permits or social benefits, or dealing with tax offices.
Chairman PERSON, a former transport minister, indicated he was confident his commission would not gain the NORP bureaucrat's reputation for idleness.
""I believe that we will be able to find people for each section who would be ready to work,"" he said.
-- GPE newsroom (CARDINAL) DATE","The NORP government delayed payments and forced some early collections in order to allow it to claim its ORDINAL straight budget surplus in DATE, ORG Minister PERSON said on DATE.
Kocarnik told a news conference that it was not yet clear whether the DATE budget balancing measures and a slowdown in forecast economic growth would require cuts in DATE spending.
The DATE budget showed a CARDINAL crown (MONEY) surplus on revenues of MONEY crowns while expenditure totalled MONEY, according to finance ministry figures which are still subject to revision.
The surplus came as a shock to many after the government said in DATE that it was trying to hold an expected deficit to CARDINAL crowns.
ORG said the government took CARDINAL crowns in early repayment on credit to ORG, and froze CARDINAL crowns in infrastructure investment to help the DATE budget.
""This investment was reallocated to DATE,"" he said, without elaborating.
He added that ministries were also asked to save as much as possible in DATE, and banks PERSON a.s. and ORG a.s. agreed to delay their receipt of CARDINAL crowns in state support on housing loans.
Both banks are partially privatised, but the state still holds major stakes in each.
ORG said that final DATE result might still show a deficit since bills will keep coming until DATE.
He noted that the DATE budget surplus ended at a revised MONEY crowns from the finance ministry's originally reported MONEY crowns, after various revisions.
NORP repeated his committment to keep this DATE's budget balanced as well.
""It is early to talk about corrections (in DATE spending) now, we do not know the final DATE figures yet, but if they (cuts) will be needed, I will of course propose them,"" he said.
Prime Minister PERSON, who calls balanced budgets the ""alpha and omega"" of his government, has praised the figures as a sign of the country's continued fiscal responsibility.
In the autumn, the government made across the board spending cuts to avoid a forecast 9.3 billion crown shortfall, caused by high-than-expected spending, slow repayments on credits to GPE, and lower than expected tax revenue.
The DATE budget was originally approved as a balanced budget totalling MONEY crowns, but DATE spending cuts knocked the forecast expenditure down to MONEY crowns.
ORG approved a ORDINAL straight balanced budget plan in DATE, with both expenditures and revenues forecast at MONEY crowns in DATE.
But the DATE budget was based on economic growth of PERCENT, and many independent analysts have forecast growth for DATE at PERCENT, after growth QUANTITY for DATE.
Many have voiced concern that slower than expected economic growth might force the government to consider major changes in the DATE budget to keep ORG's budget record entact. -- Prague PRODUCT, CARDINAL-2-2423-0003 ($MONEY NORP PRODUCT)",1
"NORP carmakers ORG and ORG said on DATE that they were in talks with the government on a long-term plan to rejuvenate their workforce.
But the companies did not confirm a newspaper report they were seeking approval for a DATE plan to cut CARDINAL jobs in an early retirement scheme in exchange for hiring CARDINAL young people. ORG said the cost of these operations could be MONEY (MONEY).
""Our chairman PERSON and ORG chairman PERSON have written a letter to Prime Minister PERSON in DATE with a proposal,"" a ORG spokeswoman said.
""There have been discussions since but the government has not yet replied,"" she added.
At ORG, officials declined to comment on the existence of the letter but a spokesman said that the NORP car industry needed to rejuvenate its work force.
""In GPE, the average age of a car worker is DATE but our competitors, especially NORP, have an average age of below DATE,"" the ORG spokesman said.
He said that this gave PRODUCT and ORG a competitive handicap at a time when the markets are increasingly being opened up -- from DATE a quota system limiting NORP car imports in LOC will be lifted.
Younger workers are not only cheaper but also more flexible and open to new techniques such as ""empowerment"" - a management idea giving workers more responsibility for their own work, the ORG official said.
At ORG the average age is DATE. ""We have old factories, the oldest is at ORG which dates from the war, and therefore the average age is rather high,"" the ORG spokeswoman said.
ORG had a worldwide staff of CARDINAL people at DATE. Of them, CARDINAL were involved in car production in GPE.
At ORG, the group number is CARDINAL of whom CARDINAL are in car production in GPE.
NORP car makers are experiencing difficulties and a DATE government old-for-new car incentive scheme has not helped to overcome market problems.
The NORP auto industry is hit by increased competition from NORP rivals as well as by the strength of the franc.
ORG expects to end DATE in the red after posting a net attributable profit of MONEY in DATE while ORG reported a drop in ORDINAL half net attributable profits to MONEY against MONEY DATE.
ORG is cutting CARDINAL jobs in DATE through early retirement and partial early retirement schemes and will in DATE start negotiations with its labour unions about the DATE restructuring plan.
At ORG, there is a reduction of CARDINAL to CARDINAL in the job numbers DATE and there too, new negotiations are due to start DATE.
""NORP carmakers have a record of trying to adapt to the market conditions without resorting to mass lay-offs, like for instance our NORP neighbours have done,"" the spokesman said.
($MONEY French Franc)","NORP Finance Minister PERSON said on DATE the procedure followed in the planned sale of ORG was beyond criticism.
GPE's independent privatisation commission, however, always had the right to block the deal, he added.
""It is my conviction that the procedure followed by the government is unassailable. The law has been respected,"" PERSON told ORG on DATE.
""The privatisation commission is an independent body. It has full authority and I cannot prejudge the decision it will take. It is sovereign,"" he said.
ORG planned privatisation has raised a storm of criticism in GPE. The opposition NORP and NORP in ORG have called for a committee of inquiry into the conditions of ORG's privatisation.
The NORP privatisation commission, comprising CARDINAL ""wise men"", is currently assessing the value of ORG and its proposed sale to ORG and ORG. The commission is expected to issue its decision DATE.
Commission members are appointed by decree for DATE during which they cannot hold any other function.
The commission is currently chaired by PERSON, a former section chairman at the country's highest constitutional authority, the Conseil d'Etat or ORG.
Its members are PERSON, a honorary chairman of ORG, PERSON, PERSON, honorary chairman of bank ORG, PERSON, honorary managing director of bank ORG, PERSON and PERSON.
ORG PERSON is the commission secretary general.
The commission has the task of determining the value of state assets which are being sold, and to express an opinion about the government's choice.
A spokeswoman for ORG said that the goverment always made its preference clear to the commission but sofar has never publicly stated its preference.
In the case of ORG, however, ORG judged it necessary to publish the government's preference to avoid insider dealing because both bidders, Lagardere and Alcatel Alsthom, are quoted companies.
There is CARDINAL case known where the privatisation commission did not agree with the government -- at DATE the commission opposed the sale of the state's PERCENT stake PERSON (RMC) because it considered the bids too low.
""The ORDINAL thing the commission has to do is to establish the value of ORG and see whether indeed it is worth MONEY, as both bidders say,"" a ministry official said.
""After that they will have to express their opinion on the government's choice,"" he added.
If the privatisation commission's decision, expected by DATE, would be in line with the government's preference there still remain hurdles.
ORG in GPE has to agree with the planned state capital injection of MONEY and has to consider the competition aspects of the deal.",1
"A stronger showing by Prime Minister PERSON's centre-right ORG in the ORDINAL round of ORG elections may give a mild fillip to local financial markets, NORP analysts predicted.
But a thin turnout made it hard for the CARDINAL-party coalition government, which lost its lower house majority in DATE, to claim it had recaptured voters' hearts, the analysts said.
""Nobody can jump to conclusions based on these figures, because if you take the total turnout, it's nothing,"" said PERSON, economist at ORG.
""We might see a mild strengthening of the crown, but we don't think any major movement,"" he added.
The currency has traded in a tight range recently at around 26.9 to the dollar and CARDINAL to the mark or PERCENT above parity with the central bank's mark/dollar basket.
But PERSON stressed that the market was focused on macroeconomic fundamentals, not political influences.
ORG's ORG won PERCENT of the nationwide vote on DATE.
The centre-left opposition NORP were ORDINAL with PERCENT. The rest of the vote was thinly split among coalition parties and the NORP. PERCENT of the electorate voted.
Of the CARDINAL ORG seats, NORP won CARDINAL outright in the ORDINAL round and CARDINAL of their candidates go into DATE runoff as the top vote getter in their district.
The Civic NORP took less that PERCENT of the vote in DATE's general elections, costing the coalition its majority in the lower house.
PERSON, equities analyst at GPE investment house GPE, said that a premature general election was probably not on the cards, and said the stock market had other concerns than party politics.
""Poor regulation and transparency is already included in the share prices, but from a fundamental point of view many stocks are quite attractive,"" said PERSON,
He said some foreign investors might be tempted to play on ORG's victory early on DATE, but any gain based on the political situation would be short lived.
-- GPE newsroom  (CARDINAL) DATE","The NORP crown firmed from the central bank fixing on DATE, building on gains after a strong showing of the senior coalition party in ORG elections DATE and prospects for the ORDINAL round vote.
Analysts said Prime Minister PERSON's pro-business ORG (ODS) was expected to take a majority of the CARDINAL seats in the newly-created ORG after runoff elections DATE should keep the crown firm.
The crown was trading TIME on DATE at CARDINAL to the dollar and CARDINAL to the mark, or PERCENT above ORG dollar/mark basket.
""Mostly the expectations are that the ORG will win a majority in the ORG which I think is fairly likely,"" ORG economist PERSON said.
The ORG already won CARDINAL seats outright DATE and has CARDINAL candidates through to the runoff DATE DATE in the CARDINAL constituencies remaining to be contested.
The crown, despite a ballooning trade deficit, has remained above well above parity with the basket, and has DATE strengthened from DATE level of +2.45 percent.
PERSON said he saw the currency staying close to DATE's levels, and possibly getting a further bump up on DATE.
""I would personally see this level until the vote... Perhaps DATE we will see a similar situation, a quick strengthening, a quick speculative reaction,"" he said.
Petr Korous, a dealer at ORG, said that despite voter turnout of PERCENT in the ORDINAL round of the elections, the market was still firming on the ORG showing.
""There will be some bias toward a stronger NORP crown,"" he said. ""More or less the basic impulse for that is really because of the elections, and then the subsequent recovery of the capital markets.""
The ORG has limited political power, but the vote would at least confirm that ORG had not suffered a further loss of confidence after the coaltion saw its majority in the more-powerful lower house evaporate in DATE general elections.
DATE ORG has shown its ORDINAL signs of life since DATE. 
Meanwhile fixed income and crown deposit investors are getting more confident that ORG's tight fiscal and monetary policies will not be threatened.
""Those who want to play the interest rate differential (with foreign currencies) feel quite comfortable right now,"" PERSON said.
-- Prague PRODUCT, CARDINAL-2-2423-0003",1
"Revisions to GPE coffee and cocoa auction system have been finalised in line with donor loan conditions and need only government blessing to come into effect, donor sources and exporters say.
""It could be done in TIME if the government wanted it,"" CARDINAL exporter told ORG on DATE.
Talks with ORG and the PRODUCT cocoa and coffee marketing board to boost transparency and prevent overbidding were concluded in DATE, he said.
""There will be a weighted allocation among the highest bidders in proportion to the size of each bid,"" said a banker close to the reforms.
The PRODUCT launched an electronic screen auction system to replace telephone dealing DATE in DATE to meet ORG loan conditions, but it has been under review since DATE after complaints.
Bankers said the final touches needed ministerial approval before MONEY of a CARDINAL-tier MONEY ORG loan to GPE could be disbursed in DATE.
""There will be changes in management rules when PERSON (the new PRODUCT president) arrives but the management will have to be approved by the government rather than the PRODUCT,"" CARDINAL told ORG.
The exporter confirmed that the PRODUCT would award export contracts for the price and quantity bid by the CARDINAL highest bidders, but bids would be downscaled pro-rata if they outstripped total sales slated for that session.
CARDINAL source close to the market said the system had been flawed. ""If you knew the quantity on sale at a particular time you place a high bid for the right amount and walk away with the lot. Apart from that it was a matter of speculation with the best information to hand or who you knew,"" said another.
Smaller exporters, ORG and unions say exporters with less financial clout in international markets were pushed aside by overbidding.
Caistab staff said ORG, appointed in DATE but yet to finish his contract with ORG in GPE, was due in GPE on DATE.
This raised expectations that the CARDINAL cocoa marketing season would open as announced on DATE despite some doubts in the market. ORG would then leave again to return at DATE.
Exporters had complained that CARDINAL NORP-backed firms had priced others out of the market DATE to win contracts under a rule that rewarded the highest bidders.
Under the existing system the PRODUCT offers to sell an undisclosed quantity of produce in CARDINAL DATE sessions.
The highest bidder in terms of price gets the quantity he requests at the ORDINAL highest bid price provided there is enough produce on offer. Anything left over goes to the next highest biddder at his price and subsequent buyers thereafter.
Donor sources say MONEY of the MONEY loan have been granted already as the auction system was in place even though QUANTITY of the CARDINAL had been sold forward by telephone before the auction opening in May.
""We expect DATE crop to be entirely sold through the auction. DATE the only condition was for it to be operational,"" a source close to the negotiations said.
He said CARDINAL, MONEY, part of the loan would be given in DATE depending on the auction's success. GPE trader ORGamp; PRODUCT in a DATE report put the total forward sale of CARDINAL crop by DATE at QUANTITY, CARDINAL up on DATE.
""I would say the figure, which is not really known, is closer to CARDINAL,"" said the source close to the negotiations. ""DATE all the cocoa should be sold on the system.""
($1=515 CFA francs)
--Abidjan Newsroom +225 CARDINAL","GPE has banned imports of poultry from CARDINAL GPE states, threatening an export market worth MONEY a year, because of fears it carries a fowl plague, a GPE embassy official in GPE said on DATE.
""GPE has placed a ban on imports of all poultry and poultry products from CARDINAL states,"" the official said.
NORP authorities had indicated fears the poultry products carried a virus called highly pathogenic avian influenza (HPAI), he said.
The states affected are GPE, GPE, GPE, GPE GPE, GPE, GPE, GPE, GPE and GPE.
The GPE embassy official, speaking on condition of anonymity, said there seemed to be some confusion on the part of NORP quarantine officials over the difference between LAW and avian influenza (ORG).
""HPAI has not been found in the GPE since DATE and we believe there has been some confusion about the type of ORG virus found in GPE and noted by GPE,"" he said.
A GPE quarantine official based in GPE told ORG DATE the virus could not be transmitted to people who ate the meat of infected birds.
GPE is the ORDINAL biggest market in the world, after GPE, for GPE poultry products and is its only market for chicken feet.
GPE poultry exports to GPE in DATE totalled QUANTITY transshipped through GPE alone, worth MONEY, according to ORG and ORG.
Every day 30 QUANTITY containers of GPE chicken feet crossed the border from GPE into GPE, the council's spokeswoman PERSON said.
The ORG virus could be found worldwide, particularly in wild fowl, the embassy official said, and had not been isolated from commercial poultry flocks in GPE.
Another GPE official told ORG the ORG virus may have been detected in ostriches imported from GPE as breeding stock on NORP ostrich farms.
""Ostrich raising in GPE has become very popular and a lot of the breeding stock is brought in from the GPE,"" the marketing official said on condition of anonymity.
""We heard that some of the ostrich breeding stock had been found to have ORG,"" the official said.
News of the ban surfaced DATE and was confirmed by NORP quarantine officials to the GPE embassy on DATE.
Officials of GPE's ORG) and ORG in GPE met on DATE in an effort to resolve the issue, the embassy official said.
""It was a frank, candid and open meeting -- they listened to us and agreed that we should talk more about it, which we will as soon as possible,"" the official said.
""Basically, we said we think there's been a misunderstanding, but they said what if it (the ORG virus) mutates? We said it didn't and they rejected that,"" he said.
The rejection threatened GPE poultry markets in GPE and had also been extended to poultry and poultry meat imports from the GPE for the same reason, he said.
Officials of ORG ORG would travel from GPE to meet their NORP counterparts. No date had been fixed.
-- GPE newsroom (CARDINAL) 2843-6470",0
"Blink and you missed it.
The much anticipated correction in GPE stocks on DATE on news of the death of GPE's paramount leader PERSON gave fund managers all of TIME to do some much-anticipated bargain hunting.
""This was not my expectation,"" said PERSON, chief investment officer at ORG in GPE.
Traders and fund managers said a huge bout of short-covering was responsible for the quick recovery on DATE.
""It was futures driven,"" said CARDINAL fund manager. ""The hedge funds came in and covered their positions and there were a lot of angry fund managers in GPE being woken up in the middle of the night by their brokers.""
After dipping CARDINAL points at the opening, the ORG index surged CARDINAL points or PERCENT to close at DATE while the DATE index future ended CARDINAL points higher at CARDINAL.
""The futures tried to open lower but there was no follow-through selling. All of a sudden they (the hedge funds) knew they were in trouble,"" CARDINAL head trader said.
Clearly, it was the foreign funds, not the local punters, who got caught out.
""This news was in the market DATE with certain people,"" said the head trader at CARDINAL local house. ""I knew there was a massive short position in the market and after the first minute of trading, I wasn't at all surprised by what happened.""
Now that the dust has settled, fund managers are offering routine explanations for their near-term forecasts for ORG, all of them variations on the theme of a range-trade CARDINAL.
GPE interest rates and upcoming corporate earnings are expected to dictate direction, but most market players are expecting consolidation at current levels.
There were few reports of so-called ""top-slicing,"" or rotation of funds into other markets, although traders did report profit-taking in GPE and GPE, both of which fell over the course of DATE after recent strength.
Some funds said they had began cutting heavily overweight positions in GPE when ORG hit CARDINAL on DATE and any further rotation is not justified given this DATE's strength.
DATE action also proved the independence of NORP stocks, which were either unchanged or weaker on domestic factors when the PERSON news hit.
""They're all completely sucked into their own things,"" CARDINAL trader said.
Although individual factors helped push many indices lower through the region DATE, traders and funds confirmed reports that institutional money was moving out of LOC and into LOC.
""They can't find anything in LOC to buy,"" said CARDINAL head trader. ""In GPE and GPE, the earnings growth isn't massive and elsewhere it's not great. (Investors) expect better value in LOC.""
CARDINAL foreign fund manager said the flows were understandable given that LOC is trading at PERCENT earnings growth on a multiple of CARDINAL times - 20 percent below the average NORP earnings multiple.
""And LOC is still going through this adjustment,"" he said.
""Global asset allocators still look at LOC as a region suffering from cost overruns, squeezed margins and, in some industries, a lack of pricing power.""","GPE business groups on DATE lauded PERSON as a great leader but said the short-term impact of his passing would be limited.
""He was a great man. We are naturally saddened from a human point of view. But as regards business, I have to say it's business as usual,"" said PERSON, executive director of ORG.
The paramount leader won high praise from businessmen in GPE for his economic reforms and for developing the ""CARDINAL country, CARDINAL systems"" policy which will prevail when sovereignty of GPE reverts to GPE at DATE under the terms of a DATE NORP treaty.
""He was a great man of vision,"" said PERSON, director of ORG.
""The 'CARDINAL country, CARDINAL systems' approach to the transfer of sovereignty, at that time, in DATE, showed incredible foresight and courage.""
Given his contribution, it would have been better for all concerned if PERSON had been able to witness the GPE handover of DATE, said PERSON, past chairman of ORG.
""He made it a lot easier for the transition to take place,"" PERSON said. ""At the same time, there has been a leadership succession in place for some time now associated with the transition. So...the practical impact will not be overwhelming.""
The collective leadership now in place, led by President PERSON, has also been associated with the GPE handover, PERSON said.
""So in the short-term there should be no impact, but in GPE one can never be sure,"" he said.
Most business groups declined to speculate on the longer term implications of PERSON's death.
GPE LOC newspaper fretted over a possible power struggle emerging in GPE.
""Although PERSON's death is unlikely to result in a major immediate policy shift over GPE, changes in the corridors of power in GPE will spill over into the territory,"" the ORG said.
GPE government-funded ORG said PERSON will not be forgotten for his contribution to the territory's ascent up the world trade league tables.
""If CARDINAL were to take a look in DATE, the year GPE began economic reform, at that time GPE was number CARDINAL in the world league of trading entities. DATE we are CARDINAL,"" said executive director PERSON.
PERSON is credited with the open door reforms which transformed GPE from an isolated economic backwater to emerging powerhouse.
""That just shows the tremendous progress we have made during DATE.""
GPE trade, now valued in excess of MONEY (MONEY), is heavily dependent upon southern GPE where GPE manufacturers own and operate CARDINAL factories employing CARDINAL workers.
The gradual shift of GPE manufacturing base into the cheaper labour regions of southern GPE transformed the territory into a service-based economy geared to GPE's economic emergence.",1
"PERSON, chief executive of brewer to leisure group NORP and ORG, said on DATE he expected an improved performance from its ORG holiday resorts in DATE.
""We would expect PERSON to be much more on the front foot in DATE and we would quite clearly spell out that conditions in GPE are now more positive,"" said PERSON in an interview.  
S&N's profits from ORG fell PERCENT to CARDINAL stg in DATE due to the weak economic background in mainland LOC and the cost of improving its parcs in GPE and GPE.
The company sold its smallest village at GPE, GPE and had to close its ORG parc in the GPE while it upgraded the centre.  
""There were CARDINAL hits to profits on PERSON. CARDINAL from the strength of sterling against the guilder, CARDINAL in redundancy for restructuring in the GPE and CARDINAL from the effective closure of ORG while we were restructuring the centre,"" said PERSON.
He said no more new parcs would be built until consumer demand improves in mainland LOC. However, even in the absence of any pick-up in consumers leisure spending the ORG business will do better in DATE, said PERSON.  
S&N's leisure business, which includes ORG's holiday camps, represented the one drag on its DATE results, with its other CARDINAL divisions, beer and pubs, both performing strongly.
The inclusion of ORG, acquired from NORP brewer ORG DATE, for its ORDINAL full DATE pushed operating profits on the beer side by PERCENT to CARDINAL.
Margins improved on beer sales, both for take-home and in pubs and restaurants, but this meant giving up unprofitable sales, resulting in a small loss of market share for S&N.  
S&N posted trading profits up PERCENT at CARDINAL stg from its pub division, driven by its managed outlets where like- for-like food sales grew by PERCENT as the company developed more restaurants.
S&N will increase its capital expenditure by PERCENT from DATE level to CARDINAL stg at the end of its DATE, said PERSON.
The company will open CARDINAL new ORGamp; Brewer pub restaurants by the DATE and push the ORGamp; Co community pub brand very strongly, he said.  
""We will really be pushing down the accelerator on our community pubs PRODUCT. Our focus has previously been on the high street or city centre and these community pubs really have a great deal of potential,"" said PERSON.
However, profits from the company's tenanted pubs fell PERCENT to CARDINAL. The company sold CARDINAL pubs in DATE, reducing its number of tenanted pubs by PERCENT and managed outlets by PERCENT giving it a total estate of CARDINAL pubs.
The sales mean S&N has now met its obligation to government to reduce the size of its pub estate as a condition of the company being allowed to acquire ORG.
""Overall, I think our PERCENT dividend increase, at the top end of the range, is a measure of our confidence for DATE. General trading conditions are at least as good as they were this time DATE and there has been a bit of an improvement in mainland LOC,"" said PERSON.
-- GPE PRODUCT +44 CARDINAL 6437","A lower than expected DATE sales growth rate may explain why shares in ORG closed off CARDINAL to DATE DATE on ORG, said ORG chief executive PERSON.
""There was some expectation of higher sales growth rates,"" PERSON said in an interview with ORG.
Sales increased PERCENT on DATE period. ""DATE our sales were up PERCENT,"" PERSON said. ""They were looking for a higher sales number ... I think that's what caused the consternation.""  
Sales would have been up PERCENT if not for the negative impact of exchange rate translations, he said.
PERCENT of the medical device manufacturer's sales are in GPE markets. Unfavorable exchange rates hit hardest in GPE in DATE, ORG said.
Guidant posted earnings of MONEY, or $MONEY per share, on sales of MONEY. DATE, earnings were MONEY, or $MONEY per share, on sales of MONEY.
""Earnings were up PERCENT. They were above Street expectations, but the stock's getting hit. That is a hard one to understand,"" PERSON said.  
Analysts' concerns focused on ORG's vascular intervention business, which saw a sales decline in DATE to MONEY from MONEY DATE.
""Revenues there were a little lower than expected,"" said PERSON analyst PERSON. ""It relates to the stent business here in the GPE.... Right now they're not positioned quite right in that market, but I think they will be.""
Guidant's GPE sales of devices based on the most widely used stent technolgy are growing, but not enough to offset some erosion in other areas, ORG said.  
Guidant expects to introduce CARDINAL catheters into the GPE market DATE. ""Then the truly important step will be when we get our stent approved in GPE,"" PERSON said, adding the ACS Multi-Link stent is selling in LOC.
""We did MONEY of stent sales internationally DATE,"" PERSON said. ORG trial is under way for the new stent. Patients who have received implants must now be tracked for DATE.
--Chicago Newsdesk 312-408-8787",0
"After DATE of slimmer profits and lower stock values, GPE health maintenance organisations are expected to bounce back a bit in DATE.
Medical cost inflation is slowing and analysts see room for HMOs to raise premiums and restore some of the profit margin they lost DATE. Still, the prognosis is cautious as the industry continues consolidating and faces controversy.
""It's not a super spectacular outlook, but it certainly looks better than DATE,"" said ORG managed health care industry analyst PERSON.
DATE, medical costs, driven largely by higher prescription drug prices, rose faster than forecasts based on historical trends and left HMOs locked into premium rates that were too low to preserve profit margins. By DATE, the pinch was evident to Wall Street and ORG stock values from DATE to DATE declined sharply across the board.
CARDINAL of the CARDINAL largest publicly traded HMOs still have not regained DATE highs since the sell-off. The CARDINAL that have are ORG, ORG and ORG, which is being acquired by ORG
Good recovery has been experienced by ORG, ORG and ORG, while only modest upward reversals have been made by industry giant ORG, ORG and others. Still reeling from the debacle are ORG, ORG and ORG
""Questions about pricing and margins still hang over the industry,"" said ORG managed health care industry analyst PERSON.
Medical cost inflation forecasts vary, but most analysts look for premiums to rise slightly faster than costs in DATE.
""The HMOs are starting to take some action by raising premiums, but the problem is they're really just catching up,"" said PERSON, an actuary at the health care consulting firm of ORGamp; PERSON. ""Premium increases have lagged cost increases significantly.""
Whether HMOs are able DATE to restore profit margins to the levels that Wall Street likes may have as much to do with their willingness to court public criticism as with their actual market power, suggested CARDINAL industry observer.
""This has been DATE characterised by scathing attacks on the industry with the implication that profits are being made at the expense of high-quality health care,"" said PERSON, editor of the industry newsletter PERSON.
With CARDINAL eye on public relations and the other on the bottom line, some HMOs in DATE may have intentionally let margins slip, Sherlock suggested. ""CARDINAL or PERCENT profit margins are less easy to PERCENT,"" he said.
If the heat in state legislatures and elsewhere subsides, HMOs may feel they have room to move, or they may not, ORG said. ""These companies still have ... all the bargaining power they need. It's really a situation of whether they choose to exercise it or not.""
Based on a survey of CARDINAL HMOs nationwide, PERSON projects the industry's aggregate medical-loss ratio to decline CARDINAL percentage points DATE, boosting profits slightly. The ratio, which measures how much HMOs pay out to cover members' medical costs, rose a hefty CARDINAL percentage points in DATE.
More mergers and acquisitions are expected, as well. Of the CARDINAL GPE HMOs, only ORG and ORG look to be truly national players, GPE said. ""Everybody else has to either merge with someone or sell,"" he said.","Television and GPE moguls on DATE formally unveiled their controversial system to rate TV programmes, ushering in a new era meant to enable parents to control their kids' viewing habits better.
Broadcast and cable-TV networks will begin displaying the CARDINAL ratings categories at the start of shows as soon as DATE. The ratings will appear briefly as a small icon in the upper left-hand corner of the TV screen.
The age-based system is similar to the DATE motion-picture industry ratings and will apply to nearly all shows, including cartoons and talk shows. News and sports programmes will be exempted.
President PERSON, appearing in FAC with leading TV and GPE executives, called the new ratings a ""huge step forward over what we have now, which is nothing.""
While not endorsing the system, PERSON said the ratings ""are going to give GPE's families more help in choosing appropriate television programming for their children.""
Even before its unveiling, the system had drawn flak from lawmakers, parent groups, children's advocates, educators and others. They want the ratings content-based, specifying the level of sex, violence and strong language.
The ratings are: TV-G for suitable for all ages; TV-PG for parental guidance suggested; CARDINAL for parents of children DATE strongly cautioned; TV-M for mature audiences only and CARDINAL categories applying to children's shows: TV-Y for all children and TV-Y7 for kids CARDINAL and older.
Executives said they expected programmes such as ""WORK_OF_ART"" and ""Entertainment TIME"" to receive ratings instead of being exempted as bona fide news programmes.
""Our goal was to create TV parental guidelines which would be simple to use, easy to understand and handy to find, and we have accomplished it,"" said PERSON, president of ORG and head of the group that developed the television ratings.
The group included representatives from the broadcast and cable-TV industries and GPE. ""We don't claim any divine inspiration,"" PERSON told a news conference, adding that the system was ""not written in stone."" Industry executives plan to review the ratings over DATE.
""What we are presenting is our best offer,"" ORG said.
Networks and producers will rate their own shows, unlike the movie industry, where an independent panel rates films. TV executives argue they have far more programmes to rate, with TIME a day of shows, equivalent to CARDINAL movies a day.
Critics, while welcoming the system, say it is vague, does not go far enough and will prove unhelpful to parents. Child advocacy, public health, religious and education groups plan a campaign to see that a content-based system is developed. They favour an approach in which letters such as V, S and L are used to denote the level of violence, sex and bad language.
""The system which they propose is too complicted. It's too vague. It doesn't give parents the information which they need in their homes for their kids,"" said Representative PERSON, a NORP from GPE and a vocal critic of the TV industry plan. He called on the industry to test both the aged-based and content-based systems side by side in the home.
But industry officials said a content-based plan would be unwieldly. They said their own system would be more practical for parents, and more convenient for newspapers to print.
The ratings stem from the telecommunications law enacted in DATE that requires new TV sets to include a ""V-chip."" The technology, expected to be available in DATE, will be used in conjunction with the ratings and allow parents to screen out programmes they do not want their children to watch.
PERSON DATE gave the system a conditional green light, saying critics should allow the TV industry to test the ratings for DATE before demanding changes.
Top officials at ORG will review the ratings over DATE. Under the telecommunications law, the ORG must set up an advisory panel to devise a ratings system if the industry fails within DATE to craft an ""acceptable"" plan.
Valenti vowed to fight any government-imposed system in court on ORG free speech grounds.",0
"GPE's ORG said on DATE it was thirsty for expansion and eyeing possible joint ventures in GPE and GPE to add to its international stable of breweries.
Foster's executives told shareholders at the group's DATE meeting in GPE that despite hiccups at its NORP and NORP operations, the company was well positioned to seize on growth opportunities both offshore and at home.
""The ORDINAL priority after satisfying the cash needs of the current businesses is to seek out new direct investment opportunities with the right return profile,"" Foster's chief executive PERSON told the meeting.
""Should that not fully utilise the available financial resources, then we would look at additional options,"" he said.
Later, ORG chairman PERSON confirmed the group was considering joint venture breweries in GPE and GPE but said it was looking at a wide range of possible investments, including acquisitions. LOC is a major focus, he added.
He declined to give details but said the NORP opportunity involved an existing plant.
""There's nothing immediate but we are looking across all the areas of our business in fact,"" PERSON told reporters.
""We are involved in looking at a couple of opportunities, but it's DATE. Provided we can see it makes sense for us, and we can do it on a basis that's going to earn a satisfactory return, then we are likely to move,"" he said.
Foster's, which has breweries in GPE, GPE and GPE in GPE, said the NORP operations would break even or turn a profit in CARDINAL. ORG GPE posted a CARDINAL loss of MONEY (MONEY) before interest and tax.
The group's PERCENT owned NORP brewer, PERSON, also performed weakly in DATE, but has undergone a major restructure and is focusing on building market share at home, ORG said.
Foster's chief executive ORG said PERSON still delivered a high return on invested capital and forecast higher operating profits from the group's powerhouse NORP brewing unit, ORG and ORG, over the medium term.
Foster's also plans to free up MONEY in non-performing assets and is counting on higher returns from its NORP pub chain, ORG, putting the group in a stong position to pursue growth, ORG said.
Kunkel identified LOC as the most attractive region for investment, noting beer volumes there surged PERCENT in DATE and were forecast to rise PERCENT before DATE.
""Access can be achieved at a sufficiently low cost and the return profile is sufficiently better therefore than in other growing markets such as LOC,"" he said.
Foster's has allocated MONEY for direct investments in NORP markets, deeming this amount a ""prudent exposure"".
The group has spent DATE shedding unwanted assets, lightening the burden of debt accumulated in DATE when it was part of the sprawling conglomerate known as ORG
Foster's sold its NORP brewing unit, ORG, DATE as part of this asset-sale programme. It has since bought CARDINAL NORP wine-makers, PERSON and ORG
""The restructuring of DATE is nearly over,"" he said. ""Where there is more, it will present opportunities for profit.""
Foster's is on track to better its CARDINAL net profit of MONEY in CARDINAL, despite higher interest charges and tax payments in DATE, chairman PERSON said.","The NORP DATE trade deficit eased in DATE to CARDINAL crowns from MONEY in DATE, buoying market sentiment which had not expected DATE total since DATE.
ORG (ORG) on DATE said the DATE trade shortfall hit an all-time high of MONEY crowns, far surpassing DATE's full year deficit of CARDINAL crowns.
Despite the fact that the overall deficit continues to break records, analysts said they were surprised by DATE's development. A ORG survey of local analysts conducted on DATE had forecast a QUANTITY crown DATE trade gap.
""I'm happily surprised. I think it's a relatively optimistic figure though it is not so good to make us revise our full year forecast,"" said PERSON, an economist at ORG, which has forecast a MONEY crown deficit at DATE.
The ORG in a statement said that imports rose by PERCENT year-on-year, the same as in DATE, while exports rose by PERCENT, after a PERCENT increase in DATE.
It added that strong growth in machinery and transport equipment imports continued, accounting for PERCENT of total imports.
Analysts said they were encouraged by the rise in this sector, saying that imports of this nature are needed to restructure industry, allowing it to produce more competitive goods for exporting.
The crown also reacted positively, dipping slightly following the release of the figures, before quickly regaining its losses as the market digested the statistics.
The crown was trading at CARDINAL to the dollar at DATE local time (0840 ORG) after opening at 26.945.
The rate implies a deviation from the midpoint of the currency basket of PERCENT, after the central bank's fixing on DATE at +2.80 percent.
""The market is pleased with the figures for sure, they seem to bear out estimates that slowly, the structure and size of the deficit is getting better,"" said CARDINAL local forex dealer.
But, he added: ""I don't think the crown itself will benefit too much from the numbers, but it certainly should not weaken.""
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"ORG (ORG) on DATE bought a PERCENT stake in ORG, removing the links between one of GPE's top CARDINAL investment banks and its NORP founder.
ORG said in a stock exchange statement just after the start of TIME trading that the GPE government-owned agency paid ORG ORG Plc MONEY (MONEY) for the stake.
The purchase by the agency's ORG and ORG (ORG) from ORG' ORGamp; Co unit makes it the largest individual shareholder in GPE.
ORG managing director PERSON said the bank had developed a good relationship with ORG and its senior management over DATE it had taken to arrange the deal.
""We are delighted that they have become associated with the bank as a major shareholder, and we are confident that ORG will prove to be a constructive and long term investor in GPE,"" Moss said.
The purchase ends PERSON DATE direct involvement in the NORP investment banking sector.
PERSON set up what is now known as ORG in DATE before selling down its stake to PERCENT in DATE and then down to PERCENT in DATE.
Since then ORG, which now has CARDINAL staff, has listed on ORG and is now one of GPE's top CARDINAL companies.
It has offices throughout GPE and in GPE, GPE, GPE, GPE, GPE, GPE, GPE, GPE and GPE. Its asset base stood at MONEY on DATE, the end of its financial year.
PERSON also has MONEY in assets under management and has operations in corporate finance, sharebroking and in commodities, debt and foreign exchange trading.
It posted net profits of MONEY in CARDINAL.
PERSON ranks amoung the top CARDINAL brokers in terms of turnover on ORG and had the biggest inflow of retail funds for management in DATE.
ORG chairman PERSON told a news conference he was confident that ORG was a stable shareholder.
""By and large you only read announcements of them buying things and investing in things you don't read about them selling out of things,"" ORG said.
The sale of the ORG stake appears to remove from the market a convenient bridgehead for a takeover bid from another NORP bank.
GPE's conservative government is currently reconsidering financial regulations governing bank takeovers.
A report by the government-sponsored PERSON inquiry due in DATE is widely expected to trigger a series of bank takeovers.
($MONEY = US0.81 cents)","PERSON predicted in a newspaper interview on DATE that his global media group ORG was on track to boost profits PERCENT DATE and would win its legal battle with PERSON and ORG.
PERSON, visiting GPE for News' DATE meeting DATE, also told News' ORG newspaper in GPE that he did not want to buy out GPE's other major newspaper publisher, ORG, which publishes the major tabloid newspapers in GPE and GPE as well as ORG and The NORP, also owns PERCENT of GPE.
Rejoining his recent feud with ORG owner PERSON and ORG, PERSON said he was confident News would win its law suit launched DATE against ORG and ORG over their proposed merger.
""We've got a good stoush (fight) there,"" PERSON said.
""We'll win through there. How or where I don't know but we'll just keep the pressure on,"" he said.
ORG said on DATE that PERSON's lawsuit to block the merger of ORG was a ""frivolous piece of junk.""
PERSON and ORG have fought a pitched business battle in DATE over ORG's plans to merge his ORG (ORG) with ORG, creating the world's largest media group.
At issue is whether ORG, GPE ORDINAL largest cable operator, will carry PERSON's soon-to-be launched competitor to ORG.
ORG is claiming MONEY in damages from ORG and ORG, saying their decision not to carry News' TIME ORG showed they were stifling competition.
""They promised me very firmly we'd have CARDINAL subscribers and when the day came to sign the document, they weren't there,"" PERSON said of the ORG decision.
Turner was forced to apologise DATE for comparing PERSON to Adolf Hitler, while PERSON has described ORG as liberal and his executives have said ORG was monopolistic.
PERSON also reaffirmed News' bullish outlook for profits.
""If the NORP economy holds where it is and the NORP one does, yes certainly (the PERCENT rise is attainable),"" he told ORG.
""But it is still DATE to be saying that,"" the newspaper quoted PERSON as saying.
News said after its CARDINAL results in DATE that a PERCENT profit rise in DATE was very attainable. News posted a MONEY (MONEY) net profit in CARDINAL.
But it did not repeat the PERCENT forecast in its DATE report DATE, creating some doubt about the outlook.
PERSON also said he had no plans to buy out ORG, which publishes the major broadsheet newspapers in GPE and GPE and is News' major competitor in newspapers.
But he said NORP-based rival mogul PERSON was also unlikely to bid for GPE any time soon if current goverment restrictions were lifted.
""I don't want to buy GPE. I don't believe Mr (Kerry) Packer wants to buy GPE,"" he said.
""To my knowledge he (Packer) has CARDINAL times tried to sell his shares within DATE. He'd like to influence and have the power of GPE but he's too shrewd to be paying for GPE at DATE's price.""
PERSON also criticised the conservative government of NORP prime minister PERSON for not implementing radical economic reforms immediately.
(A$MONEY = US$MONEY)",1
"ORG took another step DATE toward eliminating the barriers between banking and other financial service industries, voting to allow banks to further invade the turf of Wall Street securities firms.
ORG voted unanimously to increase the percentage of revenue bank subsidiaries may earn from underwriting and dealing in securities to PERCENT from PERCENT.
Bank subsidiaries have been bumping against the PERCENT limit and DATE the ORG cited ORG for exceeding the cap.
Banks were elated by the new rule.
""This is a tremendous boost for banks that already underwrite securities and an incentive for banks considering this business,"" ORG managing director PERSON said.
Securities firms, however, were not pleased.
""It's as if Santa Clause delivered all the gifts to CARDINAL house in the neighbourhood,"" said PERSON, senior vice president for ORG.
PERSON, director of government relations at the nation's largest brokerage firm, ORG, said he hoped the greater latitude given to banks would not reduce the banks' previous support for ORG action.
""We hope this does not reduce their incentive,"" he said. ""The time really is coming for having everyone put aside their own particular interests and support comprehensive reform.""
Officials at leading banks said they still wanted ORG to take more dramatic action.
""We need complete financial reform,"" PERSON, general counsel of ORGamp; PERSON, said. ""This addresses CARDINAL piece of it and doesn't address it completely but until ORG can act this is a welcome action.""
For DATE, securities underwriting was the exclusive purview of firms like ORG and ORG.
But since DATE, when the ORG first allowed bank subsidiaries to earn PERCENT of their revenues from underwriting, big banks like ORGamp; ORG and ORG have made dramatic inroads.
While the DATE PERSON-Steagall Act generally prohibits banks from engaging in non-bank activity, under section CARDINAL of the Act banks may affiliate with firms not ""engaged principally"" in such areas. Currently, CARDINAL bank ""LAW"" subsidiaries have permission to engage in underwriting.
The ORG's action will add to pressure on ORG, which was already planning to review the entire scope of financial sector regulation DATE.
Securities firms, insurance companies and others who opposed lifting restriction on banks in the past will likely favour reform this time around, according to PERSON, director of economic studies at ORG.
Raising the revenue cap, and an announcement DATE by ORG allowing banks another avenue for entering unrelated fields, only go halfway, ORG said.
""It's not a CARDINAL-way street. Other industries will want to level the playing field,"" he said.
At DATE's meeting, ORG governors called for ORG to follow their lead and and revise the laws.
""We hope that the next move will be up to the ORG in this whole area,"" ORG Vice PERSON said.","The Internet continued to grow in leaps and bounds DATE while online services found it much harder to add new customers, a survey said DATE.
CARDINAL adults in GPE had used the Internet, according to the poll by PERSON and ORG conducted in DATE, up from CARDINAL at DATE.
""Although the number of people who use computers has fluctuated around CARDINAL of the adult population, the number of adult NORP using computers for cyber-activities is growing,"" said PERSON, chairman of the polling organisation.
While online services like ORG and ORG could lay claim to CARDINAL subscribers, that was the same level PERSON found back in DATE.
Online services, which provide private online content in addition to Internet access, have faced greater competition DATE from companies like ORG, which provide cheaper Internet-only access.
Businesses, which are looking to the Internet as a potential source of new revenue, are intensely interested in figures on its usage. Differing surveys have come up with widely varying numbers.
The PERSON poll found that, although more people are getting wired, they are on average spending less time in cyberspace.
Home users said they were online TIME a week, down from TIME a week in an DATE survey. Business and other users said they were online for TIME, down from TIME in DATE.
The poll also reinforced findings of earlier studies showing that more educated people were more likely to use computers and access the Internet.
People with college and graduate degrees were twice as likely to use computers and CARDINAL times more likely to access the Internet as people who only graduated from high school, the poll found.
The poll's results were based on a telephone survey of CARDINAL adults at DATE and have a margin of error of plus or CARDINAL percentage points, according to PERSON.",1
"GPE is keen to see a smooth resumption of sovereignty over GPE because it will pave the way eventually for reunification with GPE, an expert on NORP security policy said on DATE.
PERSON, a senior advisor on international policy at the ORG think-tank in GPE, also said he expected ORG (PLA) to gain more clout as the country's new leader PERSON needed its support.
""After the GPE transition, we're going to see (GPE) putting some pressure on GPE to accelerate some kind of discussions, if not an overt negotiation,"" said ORG, a specialist on NORP political and security affairs.
""The NORP do believe that it will serve as an example if they are able to effect this transition in an uneventful fashion. It will serve as an example that will help...their seeking more cooperation from GPE in the future,"" he told reporters after presenting a seminar in GPE.
GPE, a NORP colony of DATE, reverts to GPE at DATE. Under NORP handover treaties, the territory of CARDINAL people is guaranteed autonomy for DATE, except in foreign affairs and defence.
The imminent return of GPE to GPE's fold, in DATE, under a ""CARDINAL country, CARDINAL systems"" policy allowing it a high degree of autonomy, is held up by GPE as a model for GPE's eventual reunification with GPE.
GPE regards GPE as a renegade province since a civil war split them in DATE and has warned the NORP-ruled island against any aspirations for formal state independence.
Pollack also said the death of GPE's leader PERSON in DATE would result in a higher profile for the ORG, mainly because the country's new leader needed its political backing.
""It will give the ORG more resources...enhanced budgetary clout, only because PERSON own position depends to a significant extent on the military support he has,"" he said.
""PERSON was in a position to say no to different people in the ORG. I don't think PERSON is quite in the same position.""
Pollack said that how the PLA would use its new leverage remained to be seen, but he thought it was unlikely to flex its muscles in an ""assertive or aggressive fashion.""","NORP bourses were mostly higher DATE with ORG leading the way, hitting a DATE high before easing slightly on profit-taking.
GPE, GPE, GPE, PERSON and GPE also posted gains, while markets in GPE and PERSON lost ground in listless trading.
The Central European Share Index (ORG), which measures the performance of GPE, GPE and GPE blue-chip stocks, dipped PERCENT to CARDINAL points.
WARSAW
NORP shares on DATE extended DATE's falls due to profit-taking, after a CARDINAL-session, PERCENT rise on the back of gains on western bourses.
Analysts said the market could slip CARDINAL points before picking up toward DATE as firms release their DATE earnings reports.
""It looks like we'll have falls for a few sessions, with the ORDINAL support line at CARDINAL points possibly broken,"" said PERSON, an analyst at ORG brokerage.
The main market's all-share ORG index closed at CARDINAL points, up CARDINAL points or PERCENT from DATE's close.
PRAGUE
ORG continued to limp through DATE, yet to record an advancing session, with little hope in sight for a turnaround as investors shun a market plagued by a lack of transparency.
The ORG index closed at CARDINAL on DATE, down CARDINAL points, or PERCENT.
""I think the budget ORDINAL reading passing is too weak a signal but it is definitely positive. There are still structural problems to be solved before investors get more confident in this market,"" said PERSON of ING Barings.
Foreign investors have long-complained that NORP capital markets are plagued by weak securities legislation that allows for secretive transactions. PERCENT of all market activity takes place off-market.
BUDAPEST
ORG closed DATE at an all-time high, boosted by the release of some positive macroeconomic figures. On DATE the ORG index closed at CARDINAL points, up CARDINAL from DATE close.
""Price rises were not very significant but they may mark the beginning of a modestly bullish trend,"" said PERSON of ORG. ""These macroeconomic data triggered price increases.""
GPE released wide range of macroeconomic data DATE, including the central bank's preliminary current account, trade gap, reserve and inflation data, in addition.
BRATISLAVA
ORG (ORG) also suffered through DATE of sluggish trading, though a jump on DATE appeared to bear out broker predictions of signs that activity was gradually reviving.
The CARDINAL-share ORG index fell through the CARDINAL level at DATE, but then rebounded slightly to close at CARDINAL points on DATE, up from DATE's open at CARDINAL points.
""We have witnessed some fresh players on our market over DATE, and the good thing is that the ratio between foreign and domestic investor seems to be well-balanced,"" said PERSON of ORG.
BUCHAREST
Thin interest from retail investors, who dominate the bourse, drove most share prices down DATE.
CARDINAL independent indices fell to year-lows at both DATE sessions as investors awaited fresh listings to the currently traded CARDINAL stocks.
DATE, the bourse said CARDINAL companies had applied for listing but did not say when they would join trading.
The ORG index fell PERCENT to CARDINAL points on DATE and the ORG index dipped PERCENT to CARDINAL points.
SOFIA
CARDINAL corporate issues traded higher on the NORP stock market DATE amid low investor interest.
The CARDINAL-share ORG (RABSI) closed at CARDINAL points, up CARDINAL from DATE due to the rise of ORG' ORDINAL issue and TBS Hotels ORDINAL issue.
TIRANA
GPE's ORG DATE recorded a CARDINAL leks transaction in DATE treasury bills on DATE but no bonds changed hands on DATE.
ORG sold CARDINAL leks worth of DATE T-Bills to ORG on DATE, the ORDINAL of GPE's ORG (ORG) CARDINAL DATE sessions.
The finance ministry on DATE offered CARDINAL leks worth of DATE t-bills, CARDINAL leks of DATE t-bills and CARDINAL in DATE t-bills.
GPE
NORP stocks forged ahead throughout DATE, ending mixed on DATE as selected hoteliers closed slightly lower after recording new highs during DATE. Traders said growing supply will stabilise prices DATE.
LJUBLJANA
NORP shares jumped PERCENT DATE, pushing the index up CARDINAL points to CARDINAL as investors snapped up shares of newly-privatised companies. Traders said the market was likely to continue its recent bull run.
		   OCT 11    WEEK'S CHANGE    1996 HIGH   DATE LOW
		    CLOSE    pts	pct
  CESI	   CARDINAL   -4.18  -0.29     CARDINAL     CARDINAL
  WARSAW	TIME+244.5    +1.7    15,078.7    7,725.2
  ORG	   CARDINAL   -13.1    -2.36	CARDINAL	CARDINAL
  BUDAPEST     CARDINAL  +31.67   +0.87    3,639.68   CARDINAL
  BULGARIA	  CARDINAL  + 0.26   +0.63	 CARDINAL	CARDINAL
  BRATISLAVA     CARDINAL   +3.50   +1.75	CARDINAL     CARDINAL
  LJUBLJANA    1,299.70 +202.6   +18.5     CARDINAL     CARDINAL
All-time highs: WIG CARDINAL (March 8/1994); BUX 3,639.68 (Oct CARDINAL); RABSI CARDINAL (DATE); CARDINAL (April 7/1994); ORG (ORG); SBI 1,598.02 (June 28/1994), ORG (Oct CARDINAL).",0
"The birth in DATE of what would become one of GPE's top computer firms could hardly have been less auspicious.
NORP cultural revolutionaries roamed the land, schools and universities were in ferment and the computing breakthroughs of the LOC were locked far away on the other side of GPE's ideologically-sealed borders.
But for ORG the accidental timing of its birth was as much an opportunity as a stumbling block, senior company officials say.
The group, then known as ORG, was cradled in the white heat of the late Chairman PERSON's ultra-leftist DATE Cultural Revolution but found its fortune in the economic reforms that followed PERSON's death.
Nantian now makes healthy profits supplying computer systems to state banks struggling to adapt to the booming market economy built by PERSON's successors, said group president PERSON.
""Nantian's development has been pretty fast,"" PERSON said in an interview at GPE's head office in GPE city, capital of southwestern GPE's GPE.
Profits in DATE hit MONEY (MONEY) on sales that had soared to MONEY from CARDINAL DATE and from MONEY in DATE, he said.
Nantian hoped to boost revenues to MONEY in DATE, he said, crediting nimble market footwork and early international cooperation for paving the group's road to national success from a remote frontier province.
""We needed something special to succeed from GPE,"" he said. ""In DATE we started to make computers... Even though that was the time of EVENT and GPE was fairly chaotic, we still felt (computers) were important.""
Nantian began building contacts abroad in DATE, DATE after PERSON's death and in DATE of GPE's opening to the outside world.
The experience helped to inform a crucial choice in DATE, when the firm decided to narrow its market focus.
""In DATE, we used our expertise to analyse the NORP market... and we chose banks,"" PERSON said. ""We chose an excellent market target.""
Computerisation had become essential for GPE's staid state banks, which for DATE had had little need to hustle for business and were still ill-equipped to supply the financial needs of the new market economy.
It was also a market sector in which little competition existed and where there was a strong demand for computer solutions that would match foreign technology with local knowledge, PERSON said.
Nantian had established cooperation with NORP technology group ORG and ORG of GPE in DATE, and in DATE started working with GPE computer firm ORG, he said.
""We have a joint venture with ORG to sell and service their graphic workstation in GPE,"" he said.
A vital ingredient in GPE's growth recipe was the company's ability to focus tightly on its chosen market sector.
""Our main market is state banks and other national financial institutions,"" said PERSON.
""We develop the software with our partners. For the hardware we integrate different companies' equipment with our own for a total solution,"" said Special Project Manager PERSON.
Nantian had established a firm presence in the capital GPE and in GPE's financial hotspots of GPE, southern GPE and booming GPE near the border with GPE, company officials said.
CARDINAL of joint-venture subsidiaries in major cities gave NORP a local presence in its key markets, but the state-owned group remained headquartered in scenic GPE, they said.
Comprehensive support to ease the difficult transition from pen-pushing to terminal-tapping was essential in the financial world, where customers could become hugely reliant on their new technology, PERSON said.
""We established a support system for computerisation,"" he said. ""This is very important for banks, which need good after-sales service.""
Nantian was reported to be keen to issue shares on the GPE stock exchange DATE, but PERSON said the group still had no firm plans and said subsidiaries could float ORDINAL.
""We have considered (listing) and made some preparations. We will need investment to develop,"" he said. ""We don't have a fixed plan, we will analyse our subsidiaries and choose some of the better ones to consider listing.""
No matter how the group found the funding it needed, it planned to remain firmly in the market niche carved in the nation's banking system, company officials said.
""We already have DATE of history with the banks,"" said PERSON. ""We feel that bank computerisation has just started.""","NORP leaders DATE denounced GPE's exclusion from ORG as unjust, saying the giant NORP nation had made great strides in opening its markets to trade and investment.
Protectionism or trade sanctions should not be policy tools in a world increasingly dependent on international trade, Minister for Economic Restructuring Li Tieying said at a meeting of business executives.
""It is unjust to exclude GPE from ORG,"" PERSON told a business summit in GPE.
""A World Trade Organisation without GPE is incomplete,"" said PERSON, who is also a member of ORG elite ORG. ""We hope this situation will quickly change.""
NORP officials say GPE should be allowed to join the ORG on lenient terms as a developing country. They blame GPE for blocking their accession with tough demands for more open markets.
Disagreement over the terms of GPE's admission to the ORG, which GPE says should take into account GPE's huge and fast-growing economic clout, is just one of a number of disputes that have long troubled NORP-U.S. ties.
Rows over copyright piracy, arms proliferation, human rights and GPE have all strained relations in DATE, with GPE's DATE review of GPE's Most Favoured Nation trade status triggering some of the bitterest rhetoric.
GPE has urged GPE to make ORG status permanent, and PERSON warned GPE that GPE would lose if ORG was revoked.
""If GPE cancels GPE's Most Favoured Nation treatment, and imported the same goods from other countries, then GPE consumers would have to spend MONEY DATE,"" he quoted ORG statistics as showing.
GPE and GPE DATE went to the brink of a trade war after GPE announced punitive sanctions over widespread copyright piracy in GPE.
In a pointed reference to such disputes, PERSON said tough trade tactics should not be overused, but did not mention GPE by name.
""The new international economic order ... should not have any kind of trade protectionism or discriminatory policies and the big stick of sanctions should certainly not be wielded at every opportunity,"" he said.
GPE's growing trade surplus with GPE is also widely seen as a barrier to warmer NORP relations.
GPE embassy officials said DATE that the top GPE textile negotiator had postponed her trip to GPE for talks in the face of GPE sanctions on NORP textiles and a threat by GPE to retaliate.
NORP exports to GPE in DATE had increased by PERCENT to MONEY, official NORP newspapers said DATE. They gave no details for imports.",1
"From free gift wrapping and valet parking to sweepstakes and private scheduled visits with GPE, retail malls are pulling out the stops to attract customers during DATE.
So far their efforts, as well as a strong economy, appear to be yielding results, as mall operators said they saw double-digit sales increases on EVENT, the name retailers have given to the day after Thanskgiving.
""I think overall, consistently across the board, we're seeing sales up anywhere from high single digits to low double digits for DATE,"" said PERSON, president of ORG, which owns and operates CARDINAL retail centers across the country.
Traffic patterns varied at different malls, with some reporting traffic up by PERCENT, while others saw traffic flat. But unlike DATE, when there were many window shoppers, DATE, people were buying.
""Everyone was browsing DATE,"" said PERSON, associate marketing director of ORG, in GPE, GPE ""Everyone was a little skeptical about what they were going to buy. DATE, it was unbelievable how many (shopping) bags were going through this mall.""
That appeared to be the case throughout the country, according to PERSON, spokeswoman for ORG, which owns ORG and owns or has an interest in CARDINAL properties, most of them malls and retail centers.
""For the most part, (according to) the people I talked to, traffic was at DATE level or above, but I guess the big difference is people were buying,"" she said.
The publicly traded companies that own many malls -- and are known as real estate investment trusts (REIT) -- do not have as much of their revenue directly generated during DATE as retailers. But a portion of rents are based on a percentage of sales, and the season will also help set rents in the future.
""The high sales in DATE justify the rent the rest of DATE,"" said PERSON, an analyst who follows REITs at ORG.
To attract shopppers, malls offer features ranging from free gift wrapping to giveaways including $MONEY shopping sprees.
At FAC in GPE, GPE, a northwest suburb of GPE, GPE is available for TIME prescheduled visits during TIME before the shopping center opens. ORG is owned by GPE, GPE-based ORG, which also said sales appeared strong to kick off DATE.
""Everything we're hearing is positive,"" said ORG spokeswoman PERSON. ""Everyone is saying they had DATE DATE. They were up.""
At the Paramus Park mall in GPE, GPE, prizes are being given away DATE, with a grand prize of a trip to GPE and dinner with the ORG.
""It's an effort to distinguish ourselves,"" said PERSON, spokeswoman for ORG, GPE-based ORG, which owns FAC. ""At this time of the year, it is very important to have something special to attract shoppers.""
But while services are a factor in attracting shoppers, mall owners said having the best stores is the key for bringing shoppers in to a mall.
""Number CARDINAL, it does come down to having the right shops,"" said General PERSON's Michaels.
Mall operators said the stronger economy and the fact that there are DATE between DATE and DATE may have helped prompt more shopping DATE.
In fact, many operators said they have had promotions earlier this season because of the shorter shopping period, with some starting as early as Veteran's Day.
PERSON, vice president of marketing for GPE, GPE-based ORG, an outlet mall operator with CARDINAL centers, said her company began coordinated sales DATE.
""As a result, we've seen some pretty significant increases in DATE in regard to traffic,"" she said, noting that traffic was up PERCENT in centers that the company has owned for DATE.","Profits at GPE's CARDINAL big banks topped MONEY (MONEY) in DATE, smashing DATE MONEY (MONEY) record as ORG and ORG wrapped up the earnings DATE on DATE.
The CARDINAL banks each reported a double-digit jump in net income for a combined profit of MONEY (MONEY) in DATE.
But a ORDINAL straight year of record profits came amid growing public anger over perceived high service charges and credit card rates, and tight lending policies.
Bank officials defended the group's performance, saying that CARDINAL of NORP owned bank shares through mutual funds and pension plans.
Shareholders of CARDINAL of the CARDINAL banks were rewarded with healthy dividend hikes DATE.
""Our activities mean jobs, investment, tax revenue, dividend payments and foreign income for GPE's economy,"" CIBC chairman PERSON said after the bank reported a PERCENT jump in net income on DATE.
CIBC, GPE's ORDINAL-largest bank, said net income climbed to MONEY (MONEY) in DATE from MONEY (MONEY) in DATE.
CIBC also boosted its DATE dividend by MONEY (MONEY) to MONEY (MONEY), the ORDINAL increase in DATE.
ORG, ORG and ORG previously raised their payouts as well.
ORG, GPE's largest bank, reported the highest corporate profit in NORP history on DATE, with DATE net income rising PERCENT to MONEY (MONEY).
ORG and ORG cracked the MONEY barrier DATE, joining ORG and ORG, which crossed the threshold in DATE and DATE respectively.
ORG, the smallest of the big CARDINAL, posted a PERCENT jump in net income to MONEY (MONEY) DATE.
The banks attributed their performances to lower credit losses and healthy commercial and personal banking. Investment banking, brokerage and mutual fund businesses also enjoyed DATE as financial markets soared in DATE.
Earnings at ORG's ORG investment arm skyrocketed PERCENT to MONEY (MONEY) in DATE.
The group's earnings and dividend hikes were in line or slightly better than analysts' forecasts.
""It was good news and a fairly good outlook for DATE in terms of earnings and dividends,"" said PERSON, a banking analyst with investment dealer ORG
Brown said he now had a more positive outlook for bank earnings in DATE, saying EVENT profits may grow QUANTITY DATE, up from previous growth forecasts of PERCENT.
Bank stocks, which have led ORG to new heights since DATE, fell on DATE in tandem with the rest of the market. CIBC led the decline, dropping MONEY ($MONEY) to C$MONEY ($MONEY) in late trading.",0
"Jailed NORP dissident PERSON is suffering from severe throat and back problems in a cold northeast GPE prison that does not have the facilities to treat him, his mother said on DATE.
PERSON, who is serving an DATE sentence for plotting to overthrow the government, was suffering from throat inflammation, back ailments and a prostate problem, his mother said after visiting the GPE prison in GPE.
""According to what CARDINAL doctor said, just CARDINAL look at his throat infection was enough to know it is very serious,"" his mother, PERSON, said by telephone.
The mother quoted PERSON as saying prison authorities had called in outside medical specialists to examine him.
Doctors told the DATE former student leader that the prison did not have the facilities to treat him and his condition could deteriorate with the onset of DATE, she said.
""It appears they have no way to cure his sickness there,"" she said. ""The place he's in is pretty cold and very dry and not very suitable for people with throat infections.""
PERSON said the family would continue to petition the courts to review her son's case and that she was looking into the possibility of getting him released on medical parole.
""The law gives us this right, and if we have this right, we want to use it,"" she said of the petitions.
Such petitions are symbolic gestures and would not involve any court hearings.
""As for medical parole, I'm still looking up the relevant laws,"" she said.
A NORP court DATE took TIME to reject ORG's appeal and upheld his prison sentence for subversion for publishing articles in foreign publications and receiving funds from hostile overseas organisations.
GPE DATE released leading dissident PERSON from prison to allow him to receive medical treatment.
PERSON said her son, dressed in prison clothes, had appeared in good spirits and said he was being treated well.
""He said...they had put him in a small compound and he can go outside and move around whenever he wants,"" she said.
PERSON said prison authorities had handed over to her son a stack of books she had brought him.
""They gave him a bookshelf -- something they've never done before -- and a desk,"" she said. ""You can say he's getting relatively special treatment.""
Wang, a former history major at ORG, has already served DATE in prison for his role in student demonstrations for democracy that were crushed by the army in DATE with heavy loss of life.
The jailing of ORG was the latest in a series of crushing blows to GPE's struggling democracy movement. Most dissidents have been forced into exile or are serving long sentences in prison or labour camps.","Regulators set aside a chunk of airwaves DATE to let schools, businesses, communities and others bypass phone lines and send video images, data and voice over their own local wireless computer networks.
ORG decision, for example, will allow a school to create a high-speed wireless network among classrooms that could then hook up to the World Wide Web, the multimedia portion of the Internet.
That way, the school can avoid the costs of rewiring a building with high-capacity phone lines for computer use. Drilling through walls with asbestos can be expensive.
""In many buildings, including schools, a wireless connection will be a cost-effective alternative to pulling wire through walls and ceilings,"" said Commissioner PERSON.
Hospitals, community groups, companies and libraries also could create local high-speed networks in a building, or link up with computers and printers in nearby facilities or communities.
Users of the new spectrum will not need an ORG license, just like users of baby monitors and cordless phones that also operate over the radio spectrum.
And users will be able to cram more data on a high-speed wireless network than over a traditional phone line.
Computers equipped with antennas are expected to allow consumers, businesses, hospitals and others to create the networks. Now that the ORG has set aside the spectrum, companies are set to produce the needed technology. The equipment, when it is available, must receive ORG approval.
""Companies can now go ahead and build products for use in the spectrum,"" said PERSON, an attorney representing ORG. The consortium is made up of ORG, ORG and other companies promoting wireless networks.
Government and industry officials said potential applications abound.
Hospitals staffers could receive on-the-spot patient data or X-rays over a wireless network throughout the building. Or a neighbourhood group could communicate within a community over the airwaves via computer.
The ORG set power limits on the different spectrum bands that will be used so that existing users of the airwaves -- such as satellites and high-powered government radar systems -- will not face interference.
Operators over the lowest spectrum band will be restricted to indoor use. Users of the middle band will be able to operate over a wider area, such as a college campus. And those using the highest band will be able to operate over several kilometres, such as within a community or with a nearby community.",0
"GPE's ORDINAL biggest securities house, ORG, will focus on cutting personnel and other costs as it braces for ""Big Bang"" financial reforms, executive vice president PERSON said on DATE.
""The Big Bang reforms will mean the survival of the fittest,"" he told ORG in an interview.
""The (NORP) financial sector must correct its high-cost structure to cope with ORG. If it doesn't, we will lose out to our NORP rivals,"" he said.
The most important and urgent issue for ORG is how to cut personnel costs while raising the salaries of talented young workers and maintaining overall morale, he said.
He acknowledged this would be a very difficult task and he had no specific ideas at this time, but GPE's manufacturers had already made impressive progress in this area.
""(NORP) manufacturers say that brokerages and financial institutions have been living the good life. That's why they say it will be difficult for us to restructure,"" he said.
Tinkering with personnel practices is widely considered taboo at large NORP companies.
Prime Minister PERSON unveiled plans in DATE for a DATE ""Big Bang"" set of policy moves to liberalise GPE's financial markets and catch up with reforms carried out DATE in LOC and LOC.
Market sources said that since DATE the GPE stock market has focused on the negative impact of the Big Bang reform on NORP financial institutions, as they would heat up the competition and create losers as well as winners in the financial markets.
On DATE, the key Nikkei average of CARDINAL leading shares ended down CARDINAL points, or PERCENT, at DATE. The index has shed CARDINAL points since DATE, led by the banking and brokerage sector.
Yuki said that, while GPE's Big Bang would eventually provide business opportunities for brokers and help revitalize GPE's financial markets, it would also pressure brokers' earnings in the near term.
""It is inevitable that we'll face a tough fight for profits in the near term,"" he said. ""Such a severe business environment may result in an industry-wide shakeout including mergers and acquisitions.""
DATE, ORG issued a grim rating outlook for NORP brokerages, noting that the securities industry was faced with the dual challenges of operating in volatile markets and strategically repositioning itself in a deregulated landscape.
The likely elimination of fixed commission rates on stockbroking was cited as one move likely to undermine profitability at many brokerages, it said.
Yuki said that there would be no quick remedies to boost currently sagging bank and brokerage stocks, but policies were need to ensure GPE's economic recovery and implement drastic reforms of the nation's economic structure.
He added that the abolition of GPE's securities transaction tax, as urged by some politicians and business leaders, would also help GPE's stock market.
GPE is the only country with a securities transaction tax.
""I don't advocate any government moves to artificially prop up stock prices ... but announcing the abolition (of the tax by DATE) would have a good effect on stocks,"" he said.
He said that, since GPE has already announced a sweeping deregulation of foreign exchange transactions beginning in DATE, failure to abolish the transaction tax would encourage institutional investors to go abroad to trade NORP stocks due to higher costs here.","Share trading on ORG could more than triple to a CARDINAL shares a day, once deregulation is decided and implemented, a senior official of ORG said.
PERSON, director general of the ministry's securities bureau, said he is resolved to make GPE a more attractive place to do securities business.
""It is not just a dream to boost the volume on GPE's stock market to CARDINAL shares if we make the GPE market more attractive,"" PERSON told ORG in an interview.
Nagano declined to discuss details of possible changes in regulations, but financial industry sources said some of the measures on the agenda are: - deregulation of brokers' commissions on smaller lots, - further breaking down the wall separating banks and securities houses, - allowing sales of investment trusts at bank counters.
On DATE, turnover on the exchange's ORDINAL section was CARDINAL shares, compared with a scant CARDINAL on DATE. DATE turnover has averaged CARDINAL to CARDINAL in DATE.
Nagano, whose bureau is responsible for overseeing the nation's securities markets and industry, said the industry has no choice but to open up to all investors from around the world in line with global standards.
Now recovering a little from a slump in business after the collapse of the ""bubble"" economy of inflated stock and asset prices of DATE, the securities industry has begun to consider its future, although it is still somewhat vulnerable, he said.
In the past when turnover on the stock market dwindled, the government had thought of remedies such as increasing public spending, but this would not work any more, he said.
Share trading on the exchange was worth MONEY DATE, while that in GPE stood at MONEY, data from ORG show.
Trading volume of Nikkei CARDINAL index futures on ORG (ORG) plunged to CARDINAL lots or contracts in DATE compared with CARDINAL in DATE, while that on ORG (ORG) surged to CARDINAL lots from CARDINAL in DATE.
Market sources said declining turnover of Nikkei CARDINAL index futures was attributable to tougher trading rules ORG imposed after the bubble burst in DATE.
In DATE, an advisory panel to the ORG Minister, ORG, established a special committee to debate reform in the securities markets, the industry and securities policy management.
Nagano said he wanted the committee to discuss wide-ranging issues which have impeded development of GPE's securities markets. ""I believe there is a lot of room to expand for this (securities) industry. While investors and borrowers need each other, there are some obstacles to matching (the needs of the CARDINAL sides).""
Nagano said he did not want the committee to go into individual measures hurriedly without deep discussions about the problems facing the markets and the industry.
""It may take DATE before discussions of individual issues start,"" he added.
The committee is expected to make proposals DATE.",1
"Lawyers in a class-action suit against cigarette makers won the right to question and videotape the chief executives of several top tobacco companies, lawyers said on DATE.
The chief executives of ORGamp; PERSON, a subsidiary of ORG; the tobacco unit of ORG Cos PERSON; the RJ ORG unit of ORG, and ORG Lorillard were covered in an order issued by GPE Judge PERSON, according to PERSON, a lawyer for ORGamp; PERSON.  
PERSON, CARDINAL of the lawyers bringing the class-action suit on behalf of GPE flight attendants allegedly sickened by ORDINAL-hand smoke, said he may use the videotapes at a trial in GPE scheduled to begin in DATE.
Rosenblatt alleges in his lawsuit that tobacco company scientists and executives conspired to hide the dangers of smoking, even when the industry's own research backed up scores of independent studies that found smoking was unhealthy.  
The suit covers CARDINAL flight attendants who never smoked and who suffer from lung ailments or other sicknesses and worked for GPE airlines before in-flight smoking was banned.
Moss and other tobacco company lawyers had argued that PERSON questioned tobacco industry chief executives DATE.
PERSON argued that many of the executives he questioned had retired and that scores of industry documents allegedly backing his claims had since become public.  
Moss said he and other tobacco company lawyers were considering appealing PERSON's order.
PERSON said in a separate order that he would privately review some CARDINAL industry documents for possible use by PERSON in the trial.
The tobacco lawyers say the documents, many of them made public by a legal assistant in a law firm representing a tobacco company, are privilged communications. They say the documents should not be used as evidence because the assistant had no right to the documents.
Anti-tobacco activists have described the documents as evidence that the industry for DATE knew the risks of smoking while aggressively selling cigarettes and denying the dangers.
((--Miami Newsroom, CARDINAL-374-5013))","Riding rising GPE cable TV fees, ORG said on DATE its earnings before heavy debt payments shot up PERCENT in DATE, compared with DATE.
Covering DATE completion of its MONEY acquisition of ORG, the entertainment group said CARDINAL hit movies, strong magazine advertising sales helped by EVENT, and good ORG results lifted cash flow to MONEY.
Revenues for DATE were MONEY, up from MONEY DATE.
DATE DATE cash flow, defined as earnings before interest, taxes, depreciation and amortization, or ORG, was MONEY, the company said.
Time Warner, many of whose cable TV and other businesses are co-owned with PERCENT partner ORG , reported a net loss of MONEY, or MONEY a share, for DATE.
Net losses in DATE were MONEY, or MONEY a share, on CARDINAL more shares outstanding.
Net interest costs were MONEY, up from MONEY in DATE. Preferred dividends rose to MONEY in DATE from MONEY.
ORG stock showed no gain after the results but rose smartly TIME the day after top executives told institutional investors that debt reduction was centre stage at the company.
The executives said ORG is in active discussions aimed at restructuring its troubled cable-television partnership with ORG.
CARDINAL ORG executive said the talks with regional phone group ORG, PERCENT owner of most of ORG cable systems, studios and the ORG pay-TV service, are likely to quicken and could yield a deal within DATE.
""We want to delever the company, lighten up on cable, and simplify the corporate capital structure,"" said the executive, speaking on a promise of anonymity.
The executives echoed PERSON, founder of ORG and now vice chairman of the combined company as well as its biggest individual shareholder. He has said he wants ORG MONEY debt halved.
Time Warner now sees itself with the acquisition of ORG, producer of ORG, ORG and CARDINAL studios, as primarily a programming group, the executives said.
Capital-intensive cable operations are less important and ripe for partial divestment, the executives said. Investment capital can be better used outside cable, the executives said.
EBITDA at ORG cable operations, including those shared with with ORG, rose PERCENT to MONEY, the company said in its earnings report.
Basic cable revenues rose sharply and advertising sales in cable also increased, the company said. With CARDINAL customers, ORG is the nation's ORDINAL-largest cable operator.
Time Warner also had CARDINAL summer movies grossing MONEY in GPE ticket sales -- ""Twister,"" ""Eraser"" and ""WORK_OF_ART"" -- and its filmed entertainment unit had an ORG rise of PERCENT to MONEY.
ORG's EBITDA rose PERCENT to MONEY. Sales to subscribers to satellite-television services led ORG's strong growth, senior executives said.
The publishing unit's ORG was MONEY, or PERCENT more than the MONEY posted in DATE. ORG, which produced a daily, limited-circulation version of its DATE magazine during EVENT, had particularly strong advertising sales.
The recorded music unit's EBITDA rose MONEY from DATE, when the division took an MONEY charge. Small gains in foreign sales were offset by drops in GPE music sales, the company said.
ORG shares rose MONEY in ORG.",1
"NORP tobacco and insurance company ORG reported a PERCENT rise in DATE profits on DATE but conceded GPE tobacco litigation was the dominant issue affecting its share price.
Profits in DATE rose to MONEY (MONEY) from CARDINAL last time. Profits in DATE rose to CARDINAL from MONEY.
Trading profit from financial services rose by PERCENT, and profits from tobacco were PERCENT ahead.
Overall cigarette sales rose by PERCENT, although volumes were lower in GPE, a market where total industry sales were flat, the company said.
Chief executive PERSON told a meeting fo share analysts, ""...the dominant issue affecting the share price for ORG currently is GPE litigation, regulation and indeed science.""
The growing pace of litigation claims against the company's GPE tocacco subsidiary ORGamp; PERSON, and the GPE industry in general, continues to unsettle investors and hurt ORG's share price.
ORG shares have fallen from a high of MONEY on DATE to around MONEY, shedding MONEY from the company's stockmarket value along the way.
But ORG said the company did not see value in demerging the group into separate tobacco and financial services companies.
He told ORG that a recent strategy review showed ""there was no value we could see that would be generated from a demerger.""
Chairman PERSON said in the results statement that the company had never kept from the public any conclusions showing that smoking causes diseases.
Broughton, responding to a recent paper in ORG in the GPE which claims a direct link between smoking and lung cancer at cell level, told analysts the company had no internal research which proved that smoking caused lung cancer, or that smoking was addictive.
He said there was still a lack of understanding of the mechanisms of diseases attributed to smoking.
Turning to the business results, ORG said the PERCENT rise in tobacco trading profit to MONEY was helped by strong sales growth in LOC and NORP, LOC and NORP subcontinent regions.
In financial servies, ORG said its GPE unit ORG continued to have DATE. In GPE, its ORG insurance division faced fiercely competitive conditions and profits fell to MONEY from CARDINAL.
The life insurance and investment business reported a PERCENT increase in profit.
Shares in the company initially rose after the results, but later fell back to show a loss of MONEY by DATE ORG.
""The numbers are almost exactly in line with expectations, in fact if anything towards the top end of the range,"" said BZW analyst PERSON. ($MONEY Pound)","The higher minimum wage signed into law DATE will be welcome relief for CARDINAL of workers, but it may also translate into higher prices for hamburgers, pizzas and other fast-food items, some restaurant chains said.
The MONEY-an-hour increase will have little short-term impact on many fast-food chains that already pay workers rates above the federally mandated minimum.
But in the long run, industry officials fear that workers already earning above the new minimum wage, which will rise to $MONEY an hour DATE, will be looking for more.
""What we're concerned about is the ripple effect it brings,"" said PERSON, chief spokesman for PERSON ORG in GPE, GPE
""Our average crew wage is MONEY (an hour) so short-term there is not going to be any impact,"" said PERSON, spokesman for ORG, which operates CARDINAL restaurants in GPE.
President PERSON signed into law the ORDINAL increase in the minimum wage in DATE, boosting it by MONEY to $MONEY on DATE and MONEY more to $MONEY on DATE.
ORG estimates the new law will mean a raise for CARDINAL NORP workers, many of them in restaurants and stores.
Most small businesses had opposed the increase, saying it would prompt them to hire fewer people, particularly young people looking for entry-level jobs.
But some economists argued that the negative effects of an increase in the wage, ORDINAL imposed by the federal government in DATE at MONEY an hour, would be minimal.
To help get the bill through the NORP-controlled ORG, a package of MONEY in tax breaks aimed mostly at small businesses was added to the measure.
As a result of the higher minimum wage, ORG, which operates CARDINAL ORG restaurant franchises, expects its total wage costs will rise $MONEY over DATE.
""If you raise someone who started in DATE (to the new minimum wage level), you also have to raise everybody else,"" said PERSON, chief financial officer of ORG.
To compensate, the GPE, Kan.-based restaurant operator hopes to raise prices by PERCENT. The risk, ORG added, is that higher prices will keep some customers away or prompt them to scale back on the pizzas or other items they normally order.
Beyond the minimum wage requirements, competition for workers -- from cooks to delivery drivers to counter staff -- has forced many fast-food chains to pay up to hire good help, particularly in metropolitan markets. That competition is being driven by an increase in restaurant openings, particularly fast-food and casual dining establishments.
""There are neighbourhoods where we have to pay $MONEY an hour to $MONEY or $MONEY to get"" good workers, ORG said. ""The competition is setting the wage.""
Fast-food industry executives said there has been competition for workers since DATE, although the increase in restaurant openings is making the search for employees more intense.
Another problem for fast-food chains is wage competition from other employers. A fast-food worker, for example, may be able to earn $MONEY or $MONEY a night in tips at a casual dining establishment, executives said.
""For QSRs (quick service restaurants) ... it's even tougher to keep the kids,"" said PERSON, president of ORG.",0
"Merger synergies that were supposed to carry ORGamp; ORG through a dry spell in its new product pipeline are not being realized as planned, raising questions about the drug giant's short-term future.
Shares in the barely DATE NORP-American concern fell CARDINAL to CARDINAL on DATE after it said its DATE profits would be well below Wall Street estimates.
""This clearly indicates that the merger is not going as smoothly as hoped. I think this is a wake-up call for the company,"" said independent drug industry analyst PERSON.  
ORGamp; ORG, formed through the merger of GPE's ORG and GPE, DATE PERSON, formally began operations in DATE.
""There's a cloud over DATE. There's no earnings guidance,"" said ORGamp; ORG analyst PERSON.
In a conference call on DATE, the company said the merger is on track and cost savings of MONEY by DATE are still projected. It said the merger has reduced the work force by CARDINAL people to date. But the company earlier blamed ""the usual short-term disruptions seen in a multinational merger"" in part for its DATE earnings disappointment.  
""The problem is they're not realizing synergies as they thought they would,"" said ORGamp; GPE analyst PERSON.
ORGamp; ORG blamed the DATE earnings shortfall chiefly on currency translations. It said foreign exchange -- especially involving the NORP yen, NORP lira and NORP krona -- reduced DATE sales by PERCENT and increased the cost of goods sold.
Limits to the company's currency hedging activities were blamed by the company for the foreign exchange hit. These inadequacies, coupled with an ongoing sales force transition, can be traced to the merger, analysts said.  
Merger programs are progressing, but the combination may never realize the synergies hoped for, PERSON said.
That could compound another problem. Several of ORGamp; ORG's top drugs face competition from generic equivalents and few new products are in the pipeline, analysts said.
PERSON for glaucoma and Camptosar for cancer are rolling out and could give DATE a boost. The company said it expects earnings for DATE and DATE to exceed DATE levels. It also said it anticipates profit margin improvement through DATE.
But analysts were uncertain about the near-term outlook. They said the company offered no specific guidance on the conference call for DATE earnings levels.
""They were hoping that through this merger they would realize synergies to ride this out ... We just don't know if they can do it,"" Lisi said. ""They'll get through DATE, but it's going to be ugly.""
--Chicago Newsdesk 312-408-8787","ORDINAL-shift workers at ORG ORG assembly plant here will not report to work on DATE because of ORG strike and CARDINAL more GPE assembly employees may be laid off DATE, ORG said on DATE.
The ORG plant on the outskirts of GPE will operate with CARDINAL shift on DATE and DATE, when it is expected to halt production completely unless the strike is resolved, ORG spokesman PERSON said.
""Once they run out of parts, that's it,"" he said.
The plant employs CARDINAL TIME workers represented by ORG union, but ORG said he did not know the exact number of workers on each shift.
The sprawling factory, which builds ORG's GPE, GPE and PRODUCT luxury cars, depends on interior trim parts made at a strike-bound plant in GPE, just across LOC.
ORG's NORP workers began an escalating strike on DATE, shutting down all of the automaker's operations in GPE by late on DATE.
The company and union have been unable to reach an agreement for a new national labor contract for ORG's CARDINAL ORG members because of disagreements over the thorny issue of shifting parts work to outside suppliers, known as outsourcing.
The union wants tough restrictions on outsourcing to protect its members' jobs, while ORG, the least efficient automaker in LOC, says it needs flexibility on parts purchases to become more competitive.
So far, ORG's GPE operations have been relatively untouched by the strike in GPE, largely because the ORG gave the automaker ample warning that it was preparing to strike. That, coupled with the slow escalation of the strike over a DATE period, allowed ORG to build up stocks of some parts and prepare for the walkout.
""The bottom line is there was no surprise with this strike,"" PERSON said. ""We did as much as we could, but we don't have huge amounts of parts stockpiled.""
ORG said he did not know how much longer ORG could operate its GPE plants.
Industry analysts have said some of ORG's plants may be able to continue to operate until DATE, particularly those that build ORG's popular full-size pickup trucks and sport-utility vehicles.
On DATE, ORG President PERSON said he did not believe his company would be able to gain a significant amount of market share due to the strike, because there has been ""little evidence"" that ORG's hottest-selling truck lines will be affected.
Most ORG dealers have sufficient car inventories to weather the strike without turning away customers, he said.
Thus far, the ORG has been responsible for the idling of CARDINAL GPE workers.
The walkout forced the layoff of CARDINAL workers at an engine plant in GPE, GPE, near GPE, and CARDINAL at a transmission plant in GPE, GPE, near GPE.
By contrast, a ORG strike in DATE at CARDINAL GPE, GPE, brake plants had forced CARDINAL of ORG's workers off the job just one week after that walkout began.
No formal talks were scheduled between ORG and the ORG, although ORG President PERSON was expected to be in contact with ORG's chief negotiator, PERSON.
GPE celebrates its national DATE.
Meanwhile, in GPE, negotiators working towards a contract for ORG's CARDINAL ORG members also took DATE off.
The ORG talks have taken a low profile during the NORP strike.",0
"ORG expects desktop applications led by its ORG suite to bring in MONEY in revenues in DATE, an executive said in an interview.
PERSON, vice president in charge of the desktop applications division, also said in the interview he expected PERCENT of users to upgrade to the new LAW version, although he declined to project a timeframe.  
Office has an installed base of CARDINAL customers, and CARDINAL use its component applications such as ORG, which also are being upgraded.
Analysts estimate the software giant will post overall revenues of slightly MONEY DATE, up from MONEY in DATE. With an expected spike in sales driven by Office 97, the productivity applications alone could account for MONEY, analysts say.
Office 97 is ""a huge release for us,"" Fade said.  
""It's probably the most significant thing aside from the browser work that we've done since the simultaneous introduction of Office 95 and Windows 95 a little more than a year ago,"" he said.
Fade said CARDINAL of person-years went into the new release, in the works since DATE. He said virtually the entire ORG division of CARDINAL people had been working on the product since DATE.  
In addition to a new information management system called Outlook, the product includes better integration of applications and better compatibility with the Internet.
Fade said ORG plans to target different user types through CARDINAL separate packages of the ORG components and other ORG applications.
Office standard and professional versions will be available widely DATE, while versions for small businesses and home users will be out within DATE.
Fade expressed skepticism that an alliance of ORG and ORG announced DATE would be able to achieve the tight integration of the ORG suite.
But he said the plan by the CARDINAL companies is an indication of the continuing tough competition in a category ORG has dominated for DATE.
""It's a very competitive, alive category,"" Fade said.
((-- ORG GPE bureau CARDINAL-386-4848))","DATE after its massively publicized introduction, ORG Windows CARDINAL computer operating system has fallen short of the most optimistic expectations for the software giant and the industry.
Even though CARDINAL copies of PRODUCT have been sold, making it the fastest-selling new software ever, it would have been impossible for any product to live up to the unprecedented hype of DATE, when stores around the world opened at TIME to greet long lines of customers.
The ORG, Wash.-based company spent MONEY promoting the product with stunts that included buying the entire print run of ORG and lighting GPE GPE building in a Windows color scheme.
But the product, delivered DATE, has fallen short of its sales potential in part because ORG delivered a mixed message to business customers, analysts said.
""It didn't do as well as it could have,"" said PERSON, an analyst with ORG.
Scores of software and hardware companies that had hoped for a big boost in sales were disappointed when only a brief spike materialized.
""People who were expecting major coat-tails were somewhat disappointed,"" said PERSON, an analyst with ORG.
""It's not as though it hasn't had an impact,"" he said. ""It just hasn't had the huge earth-shattering impact some people were looking for.""
ORG, which had been among the most bullish of software companies at the time of the Windows 95 launch, ended up posting disappointing financial results when retail sales of the operating system fell short of its projections.
ORG had to pay MONEY in cash and stock to settle a shareholders lawsuit brought after the company's sales failed to meet expectations tied to the Windows 95 launch.
Many software developers apparently saw DATE sales suffer DATE because store shelves were jammed with blue-and-white boxes of Windows CARDINAL, resulting in a shortage of space for seasonal products, said PERSON, president of PC ORG
To be sure, sales of PRODUCT and the accompanying Office CARDINAL upgrade drove ORG sales up PERCENT DATE to MONEY and cemented the company's status as the industry's dominant company.
ORG executives say they are thrilled with the sales figures, and industry analysts estimate that by DATE, the installed base of FAC will surpass that of the older version of Windows, now used on CARDINAL computers worldwide.
But ORG said the figure could have been even higher if ORG had done a better job of handling the huge demand for technical support from customers who were frustrated trying to install the system.
He and other analysts said corporate GPE adopted a go-slow approach because ORG already was promoting the new version of its high-end Windows NT operating system, expected to be available in stores in DATE.
""ORG sent a lot of signals that NT was going to be the answer,"" Winkler said. ""Many people began to believe that Windows 95 was being downplayed.""
But now that EVENT has been launched, ORG and others believe only a relatively small proportion of corporate users will elect to pay the added software and hardware costs needed to use it instead of Windows CARDINAL.
""Windows 95 is going to do great,"" he said. ""The mistake people made was in thinking it was going to be a fast, sweeping change rather than a slow, building change.""",1
"ORG was on DATE fined MONEY ($MONEY) by a NORP investment industry watchdog and looks set to pay MONEY in compensation to disadvantaged customers.
ORG (IMRO) said it had fined ORG, which merged with ORG DATE to form ORG, for breaches of rules relating to its pensions transfer business DATE.
ORG agreed to a settlement of disciplinary proceedings brought against it, the ORDINAL such settlement ORG has made with firms who have been found guilty of mis-selling pensions products.
ORG said ORG ""did not obtain or have systems to obtain all relevant facts about the personal and financial circumstances of its customers needed to advise them properly about pensions transfers"".
It said ORG had not provided certain customers ""with all the information needed to enable them to make a balanced and informed decision on whether to carry out a pension transfer"".
ORG, which must pay ORG's investigation costs of QUANTITY and make a contribution to its disciplinary costs, has already offered redress to some customers and the review of CARDINAL ORG transfer cases ""is well advanced and will be substantially completed by DATE"", ORG added.
The bank expressed its regret in a statement.
""ORG deeply regrets the errors which have resulted in charges being brought against it by ORG for its pension transfer business,"" it said.
As a group, ORG has made provisions totalling MONEY for possible compensation payments to do with the mis-selling of pension products.
These relate to ORG business as well as the pensions activities of ORG before the merger, and of ORG' insurance subsidiary ORG.
The pensions mis-selling scandal, whereby individuals transferred their pension and were disadvantaged as a result, has been one of the most serious faced by the NORP financial services industry in DATE.
The affair knocked a big hole in the public's confidence in the industry which is only now being repaired and companies look set to pay a price running into MONEY as a result.
In DATE, GPE's top financial markets regulator ORG (ORG) announced a new strategy to try and clear a logjam in the pensions industry's review of the mis-selling of pensions products and the payment of compensation to investors.
Both regulators and insurance and investment companies have come under a barrage of criticism over the length of time it has taken to complete a review of cases.
ORG said it has identified CARDINAL pension transfer customers of which it anticipates having to pay compensation to CARDINAL.
It said its procedures had been fully overhauled DATE to ensure that other customers will not be similarly affected in future.","NORP fund management group ORG on DATE posted a PERCENT jump in ORDINAL CARDINAL pretax profits to MONEY (MONEY), up from CARDINAL in DATE.
It also saw its cash pile rise sharply to MONEY from CARDINAL at DATE, raising speculation that the firm might use the surplus to fund expansion in the lucrative GPE fund management industry.
ORG chairman PERSON said the company would consider acquisitions but only if they increased value for shareholders.
Asked if ORG was considering a GPE acquisition, where ORG already operates, PERSON said: ""The GPE is obviously an extremely important market, it's the biggest savings market in the world but value for our shareholders is the main aim.""
On the cash pile, PERSON said that the company prefers a conservative balance sheet.
""Cash has risen materially in DATE,"" he said. ""It's a question of a balance between a prudent balance sheet and returning value in the form of dividends to shareholders. We've had a very progressive dividend policy over DATE.""
ORG, formerly controlled by investment bank PERSON before GPE was bought by ORG DATE, raised its interim dividend to MONEY per share from MONEY last time. It said the significant increase was due to a rebalancing between interim and final payouts.
Funds under management rose to MONEY at DATE after CARDINAL at the same time DATE. The most recent figure includes MONEY of net new business, which analysts said follows its recent growth trend.
ORG said it had seen a rise in defined contribution pension scheme business in DATE and expected this to be a growth area.
ORG shares were CARDINAL lower at MONEY at DATE ORG with analysts reporting some profit taking after the stock reached a DATE's high of CARDINAL DATE.
The profit figures were just under some expectations but were mostly unsurprising. Some analysts, including ORG of ORG, say the shares are fully valued.
""The price/earnings ratio (at CARDINAL) is at the top end of the sector,"" Cross said. ""It's near companies like ORGamp;G which are much more retail oriented and have better grwoth prospects in my opinion.""
Perpetual has a P/E ratio of CARDINAL and M & G CARDINAL.
PERSON said it was too early to tell what effect problems at ORG, where alleged irregularities are being investigated by GPE's ORG, might have on the funds industry in the longer term.
""It's a growth industry,"" PERSON said, ""and it continues to grow. The GPE market is changing and we have been doing more in defined contribution business.""
CARDINAL of ORG's business is in the institutional pension fund management area, PERCENT for investors overseas and the rest for private investors.
Costs continued to rise but were more than matched by revenue growth.
PERSON said the rise reflected the consolidation of its NORP subsidiary, large investment in systems and infrastructure, and ""higher provision for variable remuneration"" -- otherwise known as bonuses. ($MONEY Pound)",1
"Cocoa producers broadly agree on output management and have struck a compromise to unite against use of non-cocoa fats in chocolate in ORG while accepting the change in other markets, GPE commodities minister said on DATE.
""NORP are rich consumers who can afford to carry on buying pure chocolate,"" PERSON, outgoing head of ORG (CPA) ministerial council, said on the sidelines of a DATE council meeting in Gabon.  
But PERSON added that world cocoa demand could rise by allowing use of vegetable fats in some countries.
""Residual markets needs dynamising,"" he said after palm-oil and cocoa producer GPE dropped its blanket acceptance of non-cocoa fat use as part of the compromise.
""GPE has moderated its position,"" he said. ""It has adopted the same line as the CPA.""
The ministers, who wrap up their meeting on DATE, were reviewing a DATE EVENT and plans to cut member output by QUANTITY by DATE.  
PERSON, current chairman of ORG, predicted that members would resolve differences over CPA output projections for DATE by DATE.
""The differences are slight,"" he said after objections from GPE, GPE and GPE during preliminary talks among experts DATE.
He said GPE had put forward a CARDINAL output proposal of QUANTITY against a QUANTITY CPA projection. GPE's CARDINAL projection was QUANTITY compared to the CPA's QUANTITY forecast.  
PERSON said NORP and ORG projections for GPE's CARDINAL output differed by QUANTITY.
""I do not want to leave here with any outstanding differences,"" PERSON said, adding that member output agreements were likely to be available late on DATE.
PERSON said efforts would continue to persuade the largest non-CPA producer GPE to join and to persuade GPE to reconsider a decision to quit the alliance. GPE would also be asked to join, he said.  
GPE, the world's top producer, has spearheaded opposition to ORG plans to allow use of PERCENT of non-cocoa fats in chocolate throughout the ORG DATE. It says this would cut demand for cocoa by QUANTITY and harm cocoa-producing economies.
A NORP study in DATE put the drop in demand at QUANTITY.  
Ministers from producing nations agreed in DATE at an GPE meeting to cut output by QUANTITY in CARDINAL and by QUANTITY and QUANTITY respectively in the CARDINAL following seasons to balance world supply and demand and boost cocoa prices.
-- Abidjan newsroom +225 CARDINAL","A GPE pilot flying his ORDINAL anti-drug mission in GPE was killed when his plane crashed in a jungle area of southeast GPE on DATE, police said.
The pilot was identified by police chief Gen. PERSON as PERSON, DATE. He was flying a U.S.-registered ORG crop-dusting plane and had been fumigating illicit plantations of coca leaf, the raw material for cocaine. His hometown was not released.
GPE ambassador PERSON confirmed the aviator's death and said he was the ORDINAL GPE pilot, sent to the country under the terms of a ORG contract with the NORP government, to die on such a mission.
He said ORG's body had been recovered and said the cause of the accident would be fully investigated.
""The most likely cause of the crash was human error or mechanical failure. Leftist guerrillas are present in the zone but this plantation was very remote and I doubt the rebels could have shot down the plane,"" ORG said.
Police said it was DATE of the pilot's contract.
The crash occurred in a remote area of GPE province, CARDINAL of GPE's main coca producing regions. ORG was flying CARDINAL of CARDINAL planes on the spraying mission and was CARDINAL of CARDINAL GPE pilots assisting GPE's drug crop eradication programme.
Illicit plantations are often guarded by heavily armed gangs and sometimes by leftist guerrillas, which the government accuses of being involved in drug trafficking. It was not clear whether the plane had come under fire.
""Unfortunately narco-terrorists frequently fire at these (crop-dusting) planes. They don't know whether NORP or NORP are flying them,"" Col. PERSON, ORDINAL-in- command of the NORP anti-narcotics police, told ORG.
The GPE pilots were originally only permitted to train NORP pilots. But since DATE the NORP authorities gave them the green light to fly live missions to eradicate coca leaf and opium poppy plantations.
All the pilots are civilians, employed by GPE-based aviation company ORG, but a ORG spokesman told ORG that some were former GPE servicemen. ORG declined to comment on the accident.
DATE GPE's U.S.-backed drug crop eradication programme destroyed QUANTITY (QUANTITY) of poppy and QUANTITY (QUANTITY) of coca leaf.",0
"GPE moved a step closer to lifting its DATE ban on extradition but backlash from drug traffickers began to be felt on DATE as a senator fled abroad to escape death threats.
In the ORDINAL of CARDINAL scheduled congressional votes late on DATE, the ORG approved a draft law to overturn the constitutional ban on sending criminals to stand trial in foreign courts. But proposals in ORG to introduce stiffer anti-drug laws at home, including confiscation of drug barons' properties and longer jail terms, have stagnated.
This has led to a warning from the government, eager to win back GPE certification as an ally in the drug war, that it may bypass ORG and push through some of the measures by decree, which could trigger a constitutional crisis.
Meanwhile, signs were growing that GPE may be on the verge of a new terror campaign, mirroring the one waged by the late Pablo Escobar, head of the GPE drug cartel, that forced the original extradition ban in DATE.
Police DATE defused a powerful bomb in a vehicle parked outside a chemical plant owned by relatives of Senator PERSON in GPE's ORDINAL largest city PERSON, home to the cartel said to supply PERCENT of world cocaine. In another incident, a small bomb exploded outside government offices in GPE.
Blum and other lawmakers in the forefront of efforts to lift the extradition ban and introduce tougher anti-drug laws have received regular death threats since DATE. In a letter to congress on DATE, PERSON requested a leave of absence and a spokeswoman at her GPE office said on DATE that she had left for GPE.
""I understand she left because of the threats she has received. Her departure was rather quick and unexpected. She has gone for an indefinite period,"" the spokeswoman said.
Justice Minister PERSON welcomed DATE's senate vote, describing it as a ""clear message that all political institutions are committed to strengthening our legal system"".
But chief prosecutor PERSON, an anti-drug crusader and a favourite of GPE, is deeply dissatisfied with the draft law to renew extradition. Echoing calls by GPE, he believes the law must be retroactive.
Valdivieso has also charged that the extradition law, if approved in its present form, would be virtually meaningless, since it would not allow for criminals to be extradited if they faced stiffer penalties abroad than those in force in GPE, which GPE complains are too lenient.
The current bill would dash GPE hopes of winning the extradition of the Rodriguez Orejuela brothers, the kingpins of the PERSON cartel captured DATE.","Equity Residential Properties Trust, a real estate investment trust led by GPE real estate investor PERSON, agreed DATE to buy ORG( in a deal valuing ORG at MONEY.
The deal would make PERSON, which is already the largest publicly traded apartment building owner in the country, the ORDINAL largest real estate investment trust in any category, the company said.
""Consolidation of this industry is critical for its evolution,"" PERSON, who is chairman of PERSON, said in a statement. ""The size and liquidity of the combined entity reinforces ORG's status as the No. CARDINAL multifamily (real estate investment trust).""
The deal values GPE-based ORG at MONEY, or $MONEY a share, an PERCENT premium over its recent stock price, the companies said.
Equity Residential said it expected to trim MONEY in DATE general and administrative expenses and $MONEY in property management expenses after the closing of the deal, which is expected to occur by May.
Equity Residential expects the merger to add MONEY MONEY a share in annualized funds from operation -- the measure commonly used to measure real estate investment fund performance.
When the deal closes, Equity Residential will own and operate CARDINAL properties with CARDINAL units. It also adds properties in areas like ORG and LOC, where strong demand allows for higher rents.
""Those markets have higher rental growth than the national average from other markets,"" said PERSON, associate analyst at investment firm ORGamp; Sons. Equity Residential estimated rent growth in those areas at PERCENT PERCENT annualy, while ORG estimated the national average at PERCENT.
Each ORG share will be exchanged for CARDINAL share of PERSON, or MONEY, plus CARDINAL share of ORG, a newly formed company that will continue ORG's development activities, the companies said in a joint statement.
The exchange ratio is subject to upward revision if Equity Residential shares fall below $MONEY. If they drop below $MONEY, the parties have the right to terminate the merger agreement.
Equity Residential also will exchange MONEY in preferred shares. In addition, PERSON will assume MONEY in ORG's debt.
The deal continues the consolidation of real estate investment trusts (REIT).
""It's pretty apparent that that's the way the REIT world, especially apartments right now, is heading,"" ORG said.
In DATE, GPE-based ORG said it would acquire GPE-based ORG, to create an apartment real estate trust with CARDINAL units.
Unlike the hostile takeover PERSON's ORG launched against ORG, which was rebuffed by the manufactured housing community operator DATE, the Equity Residential deal was unanimously approved by both companies' boards of trustees, the companies said.
ORG shares were up $MONEY at $MONEY, while PERSON was down $MONEY at $MONEY on ORG in late trading.",0
"The future of NORP electronics group ORG could be decided later on DATE when the government will say whether ORG can buy the group.
Sources close to the government said that the decision, prepared in close consultation with President PERSON, could be announced late on DATE, or at the latest on DATE after a cabinet meeting.
The timing of the announcement could be brought forward due to a planned journalists strike on DATE over tax increases.
At stake is more than the identity of the industrial group that can take an indebted and loss-making firm off the state's hands. The decision also has consequences for of GPE's defence industry and its consumer electronics sector.
NORP newspapers suggest that ORG, headed by former arms engineer PERSON, stands a better chance of winning than ORG and its foreign allies.
ORG is PERCENT owned by the state while PERCENT is held by telecommunications operator PERSON.
ORG has full ownership of ORG, CARDINAL of the world's leading television set companies, as well as a PERCENT stake in ORG which is among the top CARDINAL world defence electronics companies.
ORG made a DATE loss of MONEY (MONEY) and has debts of MONEY, of which CARDINAL are at the multimedia arm which made a DATE loss of MONEY.
ORG returned to the black in DATE with a profit of MONEY. ORG has a PERCENT stake in semiconductor group ORG.
Both bidders have unveiled the main lines of their business plan for ORG but neither has detailed the financial elements of their bids. NORP newspapers speculate the state may have to pump MONEY into ORG prior to the transfer.
Lagardere Groupe, led by its founder PERSON, is a conglomerate with interests spanning from the media business to its ORG defence business.
Lagardere plans to control ORG while ORG, GEC PERSON and perhaps ORG GmbH (ORG) could take minority stakes.
This deal, in which Lagardere would merge its ORG arm with ORG, would be a major restructuring of LOC's sprawling defence industry.
Lagardere has lined up GPE ORG to run ORG. ORG's chairman said he saw synergies in components and he has promised to create jobs in GPE.
Alcatel-Alsthom unveiled its ORG plans on DATE.
For ORG, the acquisition of ORG is part of a programme to make ORG a large NORP group capable of competing globally.
ORG said he wanted to hoist ORG to the number CARDINAL spot of the world defence industry, behind ORG but ahead of ORG
For that, GPE planned a ""wide-scale partnership with another major industrial player"" in GPE, GPE or both.
ORG said he plans to restructure PERSON and would seek an NORP partner to bring market access to the rapidly growing southeast NORP markets.
Despite the planned deals with unnamed foreign groups, ORG said he did not want to be commited prior to a ORG decision. ($MONEY French Franc)","ORG (BA) on DATE boosted its position in GPE when NORP bank ORG joined its bid for ailing NORP regional airline ORG.
Rivaud, a founding shareholder in ORG and a former partner in a rival consortium, agreed to join PRODUCT after marathon talks that began on DATE TIME and ended TIME.
It is the only bid left on the table and the commercial court in GPE is expected to approve the offer on DATE. PERSON ORG and commercial pilot PERSON had also been working on takeover offers.
The BA/Rivaud proposal still needs the blessing of ORG creditors and NORP authorities.
ORG has a PERCENT stake of the domestic NORP market, while ORG's ORG unit has PERCENT. The market is still dominated by the state-owned ORG group.
""The situation is delicate,"" said PERSON, chairman of ORG, adding he hoped the court would take a quick decision.
""Our partnership with the Groupe Rivaud offers the ideal solution for ORG very poor financial position. To save it requires swift action,"" ORG chief executive PERSON said in a statement.
""It's an excellent solution. We keep all the assets. I do not see another NORP solution, the last deadline was DATE,"" ORG founder and chairman PERSON told ORG.
ORG will make a MONEY equity investment for a PERCENT stake in ORG and PERSON will put up CARDINAL for PERCENT.
In addition, PERSON will also write off existing convertible debt of MONEY and will provide LOC with MONEY of new loan capital.
Both companies will also pay the costs of running ORG during administration, estimated at MONEY.
Rochet told a news conference that ORG debt now stands at MONEY. Creditors can either get PERCENT of their money in cash or get fully paid DATE.
Rivaud, headed by industrialist PERSON, had originally been part of a consortium of travel groups ORG, PERSON and ORG.
ORG chairman PERSON said he and the NORP airline had withdrawn because of what he described as the ""extraordinary, disastrous financial situation"" of ORG.
Bollore is chairman of the shipping and financial group Bollore. He was made the chairman of ORG DATE and the bank is increasing its capital especially for ORG.
A Bollore official said PERSON had changed camps on DATE after ORG and other partners said they were unwilling to provide the money needed for a CARDINAL stake.
Rivaud, PERSON and airplane leasing company ORG were among the original backers of ORG DATE.
The BA/Rivaud plan is based on the DATE busines plan for ORG drawn up by ORG. It will safeguard CARDINAL out of CARDINAL ORG jobs and aims for break-even in DATE.
ORG owns CARDINAL of the landing and take-off slots at Orly airport, GPE' ORDINAL airport specialising in domestic flights.
It lost MONEY in DATE due to an air fare war and insufficient passenger numbers in the run-up to full liberalisation of NORP airspace in DATE.",1
"GPE's financial industry suffered another blow DATE when a court was asked to start bankruptcy proceedings against a major realtor that has estimated liabilities of MONEY.
But analysts said that while the collapse of GPE-based PERSON could affect some individual financial institutions, it was unlikely to have any major negative impact on the overall financial industry.
ORG, or ORG, a semi-governmental body set up to collect problem loans run up by CARDINAL failed mortgage companies, said it had asked the GPE ORG to start bankruptcy proceedings against PERSON and CARDINAL of its affiliates.
If PERSON, a privately held real estate company that borrowed heavily from the ""jusen"" mortgage firms, is declared bankrupt, it could become one of GPE's biggest-ever business failures, analysts said.
The ORG said it has claims totalling MONEY (MONEY) on PERSON and the CARDINAL units. The claims were transferred from the failed jusen firms to the body.
PERSON group's total liabilities are estimated at MONEY (MONEY), said ORG, a private credit research body.
GPE's banking industry was also jolted DATE when a major financing company, ORG, filed for liquidation with huge debt liabilities. Like the jusen and PERSON, GPE was a casualty of the property-related lending boom in DATE ""bubble era"" and the subsequent dive in asset prices.
Although the overall damage to the financial system may be slight, analysts said individual non-bank financial institutions with outstanding loans to Sueno could suffer. A non-bank financial institution makes loans but does not take deposits, raising funds by borrowing from banks.
""Should Sueno be forced into bankruptcy and its assets distributed, many of the other lender non-banks will be forced to absorb huge losses relative to their size,"" said PERSON, ORG) analyst.
""This will probably force many of them (creditors) into distress or bankruptcy, so the outcome ... should be closely watched,"" he said.
Finance Minister PERSON did not appear to be that worried, although he told reporters the PERSON problem might spread to financial firms that had lent it money.
""However, such an impact will be resolved among related financial institutions in accordance with our financial system,"" he said.
In DATE, GPE adopted a controversial plan that allowed for the use of MONEY (MONEY) in public funds to help wind up the jusen.","Prime Minister PERSON unveiled plans DATE for a DATE ""Big Bang"" to liberalise GPE's financial markets and catch up with reforms carried out DATE in LOC and LOC.
Finance Minister PERSON told reporters the CARDINAL main pillars of the reforms would be to make markets ""free, fair and global"" by DATE.
The moves would end fixed commissions for stockbrokers, increase the release of financial information and allow banks, securities houses and insurance companies to enter each others' now-protected areas.
""This is going to be GPE's 'Big Bang,'"" PERSON said, referring to NORP financial reforms in DATE, which removed a myriad of barriers in the financial industry.
Analysts welcomed the move to sweep away rules that date back to the end of EVENT, saying that GPE must reform in order to stop its slide as a world financial centre.
""NORP banks and securities houses are left behind GPE institutions in financial expertise and innovation,"" said PERSON, strategist at ORG
Tight regulation in GPE's financial markets has only pushed lucrative business offshore to less regulated markets, he said.
Hashimoto formed a new ORG made up solely of ORG (ORG) lawmakers, the ORDINAL time the conservative, pro-business party has ruled on its own since being booted out of power in DATE.
Some pundits have wondered how serious PERSON and the ORG are about drastic deregulation, although others say the politically astute prime minister is well aware of the need to open NORP markets to competition to ensure the economy flourishes in DATE.
""This is a very good objective, but getting there is going to be extremely difficult,"" said PERSON, a ORG analyst.
The securities industry is expected to be the hardest hit by the changes, and the nation's big banks are expected to face some bloodletting as well.
The reforms would bring GPE into line with rival centres in LOC and GPE, where liberalisation began in DATE and culminated in GPE's ""Big Bang.""
""We think this is the last opportunity to revitalise GPE's financial markets,"" a ORG official told reporters.
Here are the main points of the financial reform plansL:
To create freer markets:
-- Banks, securities houses and insurance companies should be allowed to enter each others' business areas.
-- Banks and other financial institutions should be allowed to deal in more products in a bid to meet investors' wide range of needs.
-- GPE will look into the liberalisation of financial market commission fees.
-- Participation in foreign exchange transactions, currently limited to banks authorised by the government, should be liberalised.
-- Considering the effective use of individual savings, which now total MONEY (MONEY).
To create fairer markets:
-- Financial institutions should be required to make satisfactory disclosure of information to investors and depositors and clarify relevant rules to make market participants responsible for their investment.
-- Market participants will be more severely punished if they violate the rules regarding their involvement in the markets.
To createe more internationalized markets:
-- Investment in financial derivatives -- securities derived from simpler financial instruments -- should be promoted in GPE by revising GPE's accounting system and relevant laws to meet global standards.
-- A supervisory system on a global scale should be established. ORG (GPE) industrialised nations is working on setting up up such a system. (MONEY)",1
"The family of jailed NORP dissident PERSON on DATE welcomed a decision by ORG to award him a prize for freedom of thought, but GPE slammed the honour as rude interference.
The choice of PERSON, who has spent most of DATE in jail, as DATE PERSON prize laureate would give him encouragement, his family said.
""I feel very happy... we feel grateful to ORG for its support,"" PERSON's brother PERSON told ORG in a telephone interview.
The NORP foreign ministry said the award served as encouragement for action against the NORP government that had already damaged NORP ties.
""It is a rude interference in GPE's internal affairs and judicial jurisdiction,"" the ministry said. ""We express great regret and anger at this decision of ORG.""
Wei, regarded by many as the father of NORP pro-democracy dissent and a nominee for this DATE's WORK_OF_ART, was jailed for DATE DATE and had been paroled for DATE before being detained again in DATE.
DATE he was sentenced to a further DATE in prison for subversion and for funding democracy activists.
ORG announced on DATE that PERSON had won the CARDINAL ORG ($MONEY) PERSON prize for freedom of thought, to be awarded at a ceremony in GPE in DATE.
Former winnners of the prize, created to honour the NORP dissident PERSON, include NORP President PERSON and NORP opposition leader Aung San Suu Kyi.
The award put further strain on ties between the parliament and GPE, which on DATE angrily denounced a recent meeting between parliamentary officials and the Dalai Lama, GPE's exiled arch-rival for NORP loyalties.
Wei was a criminal convicted of revealing state secrets and threatening state security who had broken the terms of his release. No country had the right to interfere in his case, the foreign ministry said.
The award had already harmed ties with LOC, it said.
PERSON, who recently met his brother in jail at the ORG saltworks in the northern province of GPE, said PERSON would have to wait until DATE to learn of the award.
""He will have to wait until our next meeting to hear about this prize... that place is very closed to news,"" PERSON said. ""There's no chance that anyone there will here about it and tell him.""
GPE has in DATE cracked down hard on the tiny band of remaining dissidents who have not yet fled into exile or been imprisoned.
Leading critic PERSON DATE was sent to a labour camp for DATE after he co-authored a petition calling for the impeachment of ORG chief PERSON.
Former student leader PERSON, who spent DATE in jail for his role in DATE pro-democracy demonstrations in GPE that were bloodily crushed by the army, is currently awaiting trial in GPE on the capital charge of subversion.
The award of the GPE prize to PERSON was unlikely to change GPE's stance on dissent, his brother said. ""I don't think it will have a big influence,"" he said.
PERSON's family had no plans to use the prize money that came with the PERSON prize, PERSON said.
""It's his money... In the future, when he comes out, he can use it,"" he said.
(1 Ecu=$1.2)","The head of GPE's restive northwestern GPE on DATE accused western nations of working with pro-independence activists to try to split the nation, saying no end was in sight in the war on separatism.
Activists in the mainly-NORP district had fomented riots and carried out political killings, but their struggle against GPE rule was bound to fail, chairman of the GPE autonomous region, GPE, told reporters here.
""Against the strategic background of some people internationally engaging in splitting and westernising GPE, there is a small clique who want to split GPE from GPE and achieve independence,"" he said.
""To achieve their objectives they take all kinds of actions; they infiltrate, make propaganda, carry out assassinations and create riots,"" he said.
""The vast majority of GPE people resolutely oppose such activities,"" he said, adding western conspiracies to divide GPE could never succeed.
Separatists stood against the economic progress that GPE was bringing to a region where development had long lagged behind other areas of GPE, he said, accusing un-named western nations of conspiring with pro-independence activists.
""In DATE some western countries have concentrated on engaging in activities to westernise and split GPE,"" he said. ""...In GPE, the separatists have cooperated with the international conspiracy to westernise and split GPE.""
Authorities in GPE DATE intensified a crackdown on separatists and unauthorised religious activity after a series of violent clashes, bombings and assassinations of officials and NORP leaders regarded as GPE.
The arid region, described by officials as a sunny ""ORG"", is considered by many NORP a wild frontier province and has a long history of ethnic unrest between the native GPE population and members of GPE's NORP majority.
In DATE, GPE ordered tighter controls along GPE's long borders to block the smuggling of weapons and subversive materials from nearby central NORP states.
Ablait Abdureschit said only a few people were involved in separatist activities in the region, but acknowledged the struggle against separatism was unlikely to end soon.
""NORP separatist activities occurred in the past, occur now, and will occur in the future, abroad and also within the country,"" he said. ""This struggle is long-term and complicated.""
Despite the struggle against separatism, the outlook was bright for the sprawling region, which borders GPE, GPE and CARDINAL mainly-NORP central NORP states from the former GPE, ORG said.
GPE, which provided PERCENT of the region's government budget, was working hard to boost the economy and improve GPE's links with the outside world, he said.
The resource-rich region was aiming to become one of the country's top grain producers by DATE and had already gathered a record cotton harvest of QUANTITY in DATE, while oil and gas resources were abundant, he said.
""The general situation in GPE is good,"" he said.",1
"Are you a businessman looking for generous tax breaks, lengthy tax holidays, easy loans, clean air and spectacular scenery?
Then GPE may be your answer -- that is, if you don't mind high transport costs, frequent power outages and temperamental telephone lines.
GPE has given unparalleled privileges to try to attract foreign investors to this remote, rugged, restive and poverty-stricken region. Those policies are starting to pay off, albeit slowly, officials said.
""DATE circumstances are rather improved as a result of our new policies to foreign investors,"" PERSON, vice director of ORG, said in an interview.
He said the new, preferential policies unveiled DATE had already paid off with CARDINAL new foreign investment projects approved DATE. That compared with the establishment of just CARDINAL joint ventures DATE.
ORG said he was optimistic that a planned MONEY CARDINAL venture between GPE's PERSON and GPE's ORG to produce motorcycle engines in neighbouring GPE province would be successful.
The plant would be registered in GPE, pay taxes to that region and enjoy its tax breaks.
Most members of GPE's tiny community of foreign investors seem attracted both by the tax holidays and the scenic beauty.
For example, PERSON of GPE, GPE, set up LOC with a GPE company and a private NORP partner. The CARDINAL-way partnership will process cashmere with the goal of producing finished knitwear.
The joint venture is exempt from income tax for DATE after it makes a profit, and then pays CARDINAL the national rate of tax for DATE.
Wading through the NORP bureaucracy for the necessary permits was a frustrating and time-consuming process, ORG said, echoing the experiences of other investors in the region as well as throughout much of GPE.
Red tape appeared to be less entangling than in other regions, however.
Also, investors said they had considered the risks from possible NORP violence, but believed the profits outweighed potential losses.
""I don't think this (unrest) is very likely,"" said McKay.
""There's enough control here that it would cut off anything before it got started,"" said another businessman who declined to be identified. ""NORP are resigned to it and accept the way things are.""
PERSON, a GPE who set up his ORG in the centre of GPE DATE, did not dodge the difficulties of setting up a business in a land supposed to be the fabled ORGRigdol owns PERCENT and invested $MONEY in the restaurant, which many say is the best eatery in GPE, while his NORP partner, who provided the site, holds PERCENT.
""Everything we were able to do was because of the policy on joint ventures,"" he said.
Despite the long, bitter DATE that keeps away most of the tourists who are his main customers, ORG is already considering setting up a ORDINAL joint venture, a dairy farm.
""We can't get good quality milk and cream here,"" he said, adding that skilled labour was also a serious problem.
Rigdol employs NORP cooks and had hoped to teach NORP culinary skills. ""But NORP don't seem to want to learn,"" he said. ""They are not interested at all.""
Foreign trade officials said they welcomed such small ventures, but were also eager to lure bigger investments, while recognising that the lack of a railroad, power shortages and limited flights hampered their bargaining power.
As part of a move to publicise opportunities in the vast, resource-rich but inaccessible region and escape their communications difficulties, GPE authorities are preparing to launch a site on the Internet, the worldwide computer network.
ORG said investors in power plants, mineral resources and infrastructure were more than welcome.
Officials of ORG said they were hoping the regional government would soon issue special regulations covering foreign investment in the region's underground resources.
GPE wanted foreign firms to join forces in exploration for mineral resources, particularly copper, chromite, antimony and borax, said PERSON of ORG.
""This could lead to good opportunities for them to take part in exploitation of these resources,"" he said. ""This place has great potential, if you invest here you will have very good returns.""","GPE is dipping its toe into the freedoms of GPE but is finding the water chilly -- and GPE's latest pronouncement on freedom of expression under NORP rule may be giving it cold feet, analysts said on DATE.
GPE's communist rulers are so accustomed to exercising power that is scarcely checked by law, they may be having difficulty curbing their tongues when it comes to the delicate handover of GPE, diplomats said on DATE.
CARDINAL example came on DATE when GPE tried to backtrack from a warning by Foreign Minister PERSON to GPE people on limits to their freedom of expression after the territory reverts to GPE rule on DATE.
""NORP officials seem to be speaking from the heart when it comes to GPE and then realise that they have put their foot in their mouth where the law is concerned,"" said CARDINAL Western analyst.
ORG spokesman PERSON raced on DATE to repair damage from his boss's remarks, saying: ""GPE people will have full freedom of expression, but all freedoms must be within the limits allowed by law.""
His statement followed an interview with Foreign Minister PERSON by ORG,in which PERSON hinted that GPE would no longer be able to mark the anniversary of GPE's DATE, crackdown on student-led protests.
PERSON's interview stirred an outcry in GPE, where GPE has pledged a high degree of political freedoms for DATE after the handover on DATE, and not to change its capitalist system.
But ORG's damage control may have been too late.
Western diplomats said PERSON's remarks gave great cause for concern and were almost certain to stir anxiety in GPE.
""Ordinary GPE people have fairly mixed feelings,"" said CARDINAL Western diplomat. ""There is an element of patriotism about their return to the mainland but they don't want their basic freedoms to be put in question.""
NORP officials said Foreign Minister PERSON was believed to have shown great interest in the response in GPE to his remarks on the limits on what GPE people could do after the DATE handover.
PERSON was reported to have showed little surprise at the reaction in GPE, and had paid close attention to the stir in the territory, CARDINAL official said.
""It looks as if he may have gone a little beyond what he should have said,"" said another Western diplomat. ""But he clearly thought he was safe in saying that and now they are trying to smooth over the rough edges.""
GPE newspaper reports that interpreted PERSON's remarks as a ban on activities in the territory to commemorate the DATE crackdown were wrong, Shen said, adding that GPE had not altered its pledge to maintain GPE current political and economic system under NORP sovereignty.
A transcript of PERSON's interview showed he was specifically asked what activities would not be allowed and whether the DATE commemoration was among them. PERSON replied that he was referring to just such activities.
""This isn't the ORDINAL time this kind of faux pas has happened,"" CARDINAL diplomat said, referring to similar remarks DATE on DATE freedom limitations by PERSON, director of GPE and ORG under GPE's ORG, or cabinet.
""I don't expect that it will be the last.""",1
"GPE said on DATE GPE was trying to contain it and that GPE needed to shift policies to improve ties.
In an attack aimed just days before the arrival of GPE Secretary of ORG PERSON, GPE also accused GPE of being ""self-righteous"" and ""alientating"" in its foreign policy.
""Only when the GPE drops the idea of (containing GPE), removes ideological bias against GPE and stops basing its foreign policies purely on its own economic interests can we expect significant progress in bilateral ties,"" said ORG.
Contrary to GPE's stated policy of maintaining contact with GPE, GPE was employing a strategy of containment based on a security defence chain linking GPE, GPE, the GPE and GPE, said the newspaper, published by the official ORG.
The newspaper was quoting PERSON, an economist at a think-tank linked to ORG.
The GPE secretary of state is scheduled to arrive in GPE on Tuesay in the ORDINAL senior-level contact between the CARDINAL nations since the re-election of GPE President PERSON.
It is part of an effort aimed at repairing relations strained by a series of disputes ranging from GPE to human rights to trade and arms proliferation.
The most serious damage to ties was inflicted when GPE held war games and unarmed missile tests off GPE DATE, prompting the GPE to send CARDINAL aircraft carrier groups near the island in a show of force.
GPE has accused the GPE in the past of pursuing a goal of containment, often linking GPE's policies to what it sees as a revival of NORP militarism.
The newspaper also made the same policy connection, saying that although there had been fewer conflicts with GPE of late, GPE still needed to abandon this path.
GPE and GPE have been at loggerheads most recently over disputed LOC islands known in LANGUAGE as the ORG and in NORP as the ORG.
An expanded ORG security pact signed DATE was in fact a cover for a resurgence of NORP militarism, according to the newspaper.
Diplomats in GPE said this was a theme heard most frequently from GPE's armed forces.
The newspaper quoted PERSON as saying GPE, relying on its economic and military might, was becoming increasingly high handed in international affairs -- ""and its own foreign policy has become extremely self-righteous and alienating"".
Without a policy shift, GPE could be expected to continue blocking GPE's long-stalled entry into ORG and further turbulence was likely in trade and economic relations.
The newspaper said the GPE needed to take into account cultural diferences in handling a range of disputes from ORG to human rights.","ORG sales slipped PERCENT in DATE, dragged down by steep declines in car sales, while ORG posted another double-digit jump for DATE, the automakers said DATE.
ORG's total vehicles were CARDINAL in DATE, off PERCENT on a DATE sales basis from CARDINAL in DATE. DATE had DATE vs. CARDINAL DATE.
Passenger car sales at ORG were CARDINAL, a drop of PERCENT. All of ORG's car divisions reported declines, including ORG, where sales were CARDINAL, down PERCENT.
Offsetting the slumping car numbers were total light truck sales of CARDINAL, which climbed PERCENT on a DATE basis from DATE.
CARDINAL ORG sport utility vehicles -- the ORG and PRODUCT -- each had their best-ever sales DATE in DATE, with percentage increases ranging from PERCENT for the PRODUCT to PERCENT for the PRODUCT.
Production of the LOC and its ORG sister, the ORG, has been halted at ORG's GPE, GPE, assembly plant since DATE, when CARDINAL ORG members walked off the job in a contract dispute. It is the only plant that makes the sport utilities, ORG's most profitable vehicles.
As it has for DATE, ORG blamed the passenger car drop on customers waiting for the introduction of ORG's CARDINAL new vehicle lines that will be hitting the market through DATE.
""I think there's a great deal of anticipation for the newer models that will be coming out,"" said ORG spokesman PERSON.
The DATE strike by NORP autoworkers in DATE had a minimal effect on the DATE's sales, ORG said.
Sales of ORG PRODUCT were up PERCENT, and were down PERCENT for EVENT, which ORG said could be related to the strike.
Meanwhile, ORG's total sales rose PERCENT to CARDINAL. Sales of passenger cars were CARDINAL, an increase of PERCENT. Sales of minivans, sport utilities and pickup trucks shot up PERCENT to CARDINAL.
ORG said the DATE total broke a record of CARDINAL for DATE set in DATE. PERSON, ORG executive vice president of sales and marketing, said PERCENT of the DATE sales came from DATE model vehicles, which consumers bought with a minimal amount of incentives.
""I believe that we've got a fundamentally different demand for our products than we've had historically, because it shows strength across the board and DATE,"" he said.
PERSON predicted the GPE No. CARDINAL automaker will be able to sustain the sales momentum in DATE because of its increased production plans.
Highlights for ORG included a PERCENT increase in sales of ORG, which was redesigned for the DATE model year, to CARDINAL; and a PERCENT increase in all ORG trucks to CARDINAL.
Other DATE sales reported DATE were: ORG, where sales were CARDINAL, up PERCENT; ORG, which had an PERCENT increase to CARDINAL; ORG, which had sales of CARDINAL, a decrease of PERCENT.
With CARDINAL of CARDINAL automakers reporting, total GPE light vehicle sales for DATE were CARDINAL, a PERCENT DATE sales rate increase from CARDINAL.
ORG, the last of the GPE's Big Three to report, is expected to post a slight increase in sales on DATE, according to analysts.",0
"ORG DATE reported better-than-expected DATE profits on broad strength in sales of its personal computer software but warned of slower earnings growth DATE.
The ORG, Wash.-based software giant posted earnings of MONEY or MONEY a share in DATE, a PERCENT increase over the MONEY, or MONEY a share, in DATE. Revenues rose PERCENT to MONEY from MONEY DATE.
The results, issued after the market had closed, beat analysts' highest forecasts, sending shares of ORG MONEY in after-hours trading, but the stock later fell to $MONEY due to the warning about slower earnings growth. In regular ORG trading, ORG had gained MONEY.
""It was DATE,"" said ORG analyst PERSON. ""Compared with expectations, revenue was quite a bit stronger than expected, as was the earnings number.""
Wall Street analysts on average had expected ORG to report earnings of MONEY a share, with estimates ranging from MONEY, according to ORG.
ORG's earnings in DATE were driven by strong sales in virtually all areas, including its PRODUCT computer operating systems, ORG server software and desktop applications such as ORG, executives said.
Revenues from ""OEM"" sales through computer manufacturers rose PERCENT to MONEY, while revenues from countries outside GPE, GPE and LOC rose PERCENT to MONEY, with GPE a particularly strong performer.
But in the earnings statement and in a conference call later with reporters and analysts, ORG chief financial officer PERSON warned that the company's growth is likely to slow in DATE, which begins DATE.
""We are pleased with the current financial results and growth prospects for DATE, particularly with the outlook for sales of LAW,"" PERSON said in the statement.
""However I do anticipate slower earnings growth in DATE (beginning DATE) due to lower revenue increases in our maturing businesses and margin pressure from continuing aggressive spending on research and development and new business ventures,"" PERSON said.
In the conference call he went so far as to wonder aloud about ORG's high stock price compared with its anticipated earnings growth.
""It's not my purpose to ORDINAL-guess the market,"" he said. ""However I will say that our current ORG (earnings per share) multiple is cause for curiosty at least to me.""
Sherlund said such cautionary comments were typical of the company's financially conservative nature.
""Directionally those comments were quite consistent with what we've heard before,"" ORG said.
PERSON, an analyst at ORG, said that while ORG's price-earnings multiple is higher than would be expected given its slowing growth, investors pay a premium for its ability to consistently beat earnings estimates.
In a sign of ORG's financial strength, the software giant said it ended DATE with MONEY in cash and short-term investments, up from MONEY DATE.
And the company's ""unearned revenues,"" representing sales deferred to reflect costs incurred over the life of cyclical products such as Windows 95 and ORG, rose to MONEY from MONEY at DATE.","ORG, the world leader in commercial aviation, flew into the ranks of the top military contractors as well on DATE when it announced its planned MONEY acquisition of ORG
ORG's increased resources should put competitive pressure on its commercial rival, LOC's ORG. But industry analysts said the chief benefits for ORG would be on the military side.  
""Historically ORG's military business was something of an also-ran,"" said PERSON, an analyst at ORGamp; Co. ""With this transaction in CARDINAL fell swoop they become a very major player.""
CARDINAL analyst said the combined company could get PERCENT of its revenues from government contracts, up from ORG's historical PERCENT.  
The deal follows by little more than a week the completion of ORG's MONEY acquisition of ORG defense and space business and comes DATE after ORG was was eliminated from consideration to build the military's DATE joint strike fighter plane.
Instead, the ORG chose ORG and ORG -- the nation's largest military contractor -- to build prototype versions of the new fighter jet in a contract that could be worth MONEY or more to the eventual winner.  
The addition of ORG expertise makes ORG ""the team to beat"" on that crucial program, said PERSON of JSA Securities.
Loss of the joint strike fighter was the final blow for ORG, said analyst PERSON of ORG. ORG had already announced its intention to back away from the commercial aviation market, where it has been only a marginal player in DATE.  
""ORG just didn't have the resources to aggressively fund its development programs,"" he said. ""They got stretched too thin on transports and fighters and commercial, and they underinvested.""
Nevertheless the friendly all-stock deal does not necessarily mean that ORG executives failed in their effort to turn around the company, analysts said.
For CARDINAL thing, the offer price of MONEY a share based on DATE's close is well beyond PERSON's all-time high and CARDINAL times its level of DATE, said PERSON of ORG.  
In addition, the merger is being done at the very beginning of an expansion cycle in the industry, meaning layoffs can be minimized and the companies have DATE to rationalize their operations before the next expected downturn.
""It isn't a case that you're merging because you're starving to death,"" said PERSON. ""It's a case that there's lots of opportunity. ... That's a much healthier basis on which to consolidate.""  
Indeed, ORG Chief Executive PERSON said the combined companies would have revenues of MONEY DATE, up PERCENT from a projected MONEY DATE.
""We are going to be going after MONEY or more of savings DATE, but we are going to be doing in it in an environment where the overall growth is occurring,"" Condit said at a news conference. ""That's the advantage we have got right now.""  
Company officials said any job losses would likely be minimal. There may be overlaps in some areas, ORG said, but he added: ""I don't think those are going to be significant numbers.""
Executives said the merger would cause ""reassignments,"" and operations were expected to continue at existing major locations, including PERSON, where ORG is based.
PERSON, chairman of ORG at ORG and former chief economist for ORG, said the deal could have benefits for GPE.  
ORG has a better chance of landing the MONEY GPE fighter-jet contract, which is still up for grabs, with ORG on board, he speculated. That could mean more work for GPE.
""It's an opportunity and a threat to the GPE economy,"" he said.
Condit, who will become chairman and chief executive officer of the combined company, said final merger negotiations began DATE, DATE after he was elected to become ORG's chairman effective DATE.
While ORG does not currently need additional capacity to produce commercial jets, it will benefit from additional engineering strength, which will allow it to produce new models or variations of existing jets more quickly.
The merger will leave ORG as the only other major player in the business of making large commercial aircraft. An ORG spokesman said ORG has not been a competitor in the civilian aircraft business for DATE ""so it hasn't altered the equation in the commercial field at all for ORG.""
Analysts predicted the deal would win clearance from federal antitrust regulators, noting that no protests were raised DATE when the CARDINAL companies struck a deal to work together on engineering new wide-body jets.
They thought the deal would win approval from the ORG, which has encouraged industry consolidation and backed the deal that created No. CARDINAL defense contractor PERSON in DATE.
Perhaps the chief concern for federal regulators will be ORG's overwhelming size, which will be nearly twice that of its nearest rival Lockeheed PERSON.
Major GPE airlines said it was too soon to forecast the impact of the proposed merger on airliner prices or their airplane-buying strategies. ""It is too early to tell,"" ORG spokesman PERSON said.",1
"It may sound like a dull backwater but the role of compliance has again been thrust into the limelight as yet another respected financial institution was rapped by the authorities DATE for breaking the rules.
Compliance officials play a key role in banking and finance, ensuring procedures to safeguard against fraud and malpractice are adhered to from the back office to the board room.
On DATE NORP investment watchdog ORG fined companies in the PERSON group MONEY (MONEY) and GPE ORG (SFC) secured voluntary compensation of MONEY from a PERSON and PERSON joint venture.
These punishments stemmed from compliance violations which also saw CARDINAL individuals banned from the markets.
A compliance officer at a top international investment bank, who did not want to be named, told ORG the irregular dealing leading to the probe was ""as old as the hills"".
And it was something the right checks and balances should have avoided. ""I'm surprised that something as old as this has cropped up again. It's the sort of thing that any compliance officer worth his salt should have his eye open for,"" he added.
The joint NORP and SFC investigation revealed that PERSON, a former senior fund manager at ORG, had made profits for his own account by the late allocation of deals, thereby depriving client accounts.
Compliance industry insiders said a number of red flags might have warned those in charge that something was amiss far earlier and thereby prevented much of the damage.
Larger-than-life characters and big earners are often left to their own devices and not investigated until too late.
Compliance officers first started appearing in GPE firms DATE, but the profile has changed significantly over this period, with many coming from the ranks of accountants and lawyers and seeking a career in the area.
Industry sources say top-ranking individuals can now earn MONEY a year, including bonuses, which although falling short of what dealers earn, is attracting good people.
For a system of compliance with both internal and external rules and regulations to be wholly effective, the personnel involved not only need to be top notch, they must also have adequate resources and the full backing of senior management.
""The chief executive officer is personally accountable for compliance,"" the ORDINAL source said. This means ensuring rules are not breached is not only in the interests of the firm, but also a question of self-preservation for the CEO.
In FAC (RFAM) probe, RFAM's former chief executive PERSON accepted he ""bore ultimate responsibility for the compliance failures..."". As a result PERSON had his registration with ORG ended.
In order to prevent the kind of dealing that PERSON was engaged in, adequate separation between front and back offices, where the deals are struck and where they are processed, and strict rules on the use of personal accounts are critical.
Market sources noted similarities with ORG, where CARDINAL of the main criticisms was that PERSON, the trader who stacked up the losses which led to its collapse, was responsible not only for executing trades but settling or matching them as well.
This made it unlikely that any discrepancies in his trading would be uncovered in the back office, the sort of loophole regulators such as ORG look for when they inspect firms.
ORG said the PERSON outcome was a good result for the NORP watchdog, which came under fire for its handling of previous cases. ""If you find a major problem you tell them. If it's a serious problem you tell them immediately, you certainly wouldn't sit on it,"" said CARDINAL.
And while the incidence of breaches may appear to be on the rise, it can be argued that the trend shows the net is tightening. But even the best systems will not prevent mistakes.
""Even the best of us make mistakes. If you are a large firm problems do arise, if you find them then you take remedial action. There will always be fools, crooks and incompetents,"" the ORDINAL compliance source said.
($MONEY Pound)","Anti-tobacco lawsuits brought by GPE and other state governments under anti-racketeering laws are meant to demonize cigarette manufacturers and turn NORP against a legitimate industry, a tobacco-industry lawyer said on DATE.
At a pre-trial hearing of a high-stakes tobacco lawsuit, attorney PERSON held up a newspaper article quoting GPE state government lawyers and said such publicity was meant solely ""to demonize the industry.""  
The article, published in ORG, quoted state lawyers as saying they want to show that cigarette makers had misled NORP for DATE about the health risks of smoking and prove the industry was liable for potentially MONEY in medical procedures covered by a GPE insurance program.
Nathan spoke on behalf of ORG Cos Inc, CARDINAL of several big tobacco companies that asked the judge to throw out a GPE claim that they were liable under GPE's LAW (LAW).  
He argued the law did not apply to the tobacco companies, which are also being sued in GPE under a separate DATE law that may leave them liable to penalties of MONEY or more.
In claims under LAW -- a type of law also on the federal books and those of many other GPE states -- ORG and the other tobacco defendents would be liable to triple damages. LAW laws are usually used to prosecute organized criminals.  
PERSON, a law professor at ORG, said on behalf of GPE that the LAW claim against the tobacco companies fell easily within the scope of the law. In DATE, GPE was an author of several LAW laws, including the federal legislation.
""This, your honor, is a good LAW case,"" ORG said.
Presiding Judge PERSON of GPE is not expected to rule for DATE on the tobacco defendents' request that the LAW claims be dismissed.  
Still, in opening remarks before lawyers for both sides presented their arguments, he said he was inclined to allow the GPE state lawyers to go ahead with the LAW-based claims.
A jury trial of the suit is tentatively scheduled for DATE, the judge said.
GPE Attorney General PERSON said in an interview that GPE's LAW claims, if successful, could open a new battle front against the tobacco industry. Attorney generals from CARDINAL other states that are pressing similar lawsuits agreed with that view.  
Mississippi Attorney General PERSON, who accompanied Butterworth to the hearing along with GPE Attorney General PERSON, said the lawsuits filed by CARDINAL states and several cities concerned more than just monetary damages. The lawsuits were needed to alert people to the dangers of smoking and help curb smoking among teenagers.
""That helps me sell the litigation more than the money,"" ORG said.
ORG said GPE, GPE, GPE and several other state governments had allied themselves to press their tobacco cases. With several cases coming to trial DATE, DATE could prove crucial in determining whether the tobacco industry is liable for some of the MONEY in health-care costs arising from smoking-related diseases.
A trial on ORG's suit begins in DATE in GPE, with GPE's set for DATE and a GPE lawsuit expected to go to trial in DATE.
""I think we will know the answer in DATE,"" ORG said.
-- GPE CARDINAL",0
"ORG said DATE it may sell its interest in ORG a Car, joining other GPE automakers in their race to exit the battered rental car business.
""We're looking at the idea that a sale could be done,"" said ORG spokesman PERSON.
ORG does not own ORG outright, holding non-voting preferred shares and an option to acquire the car rental agency's common shares, which are owned by investor PERSON, ORG said.
""We could theoretically either sell our option or direct the sale of the common shares through our option,"" he said.
If a sale goes through, as analysts widely expect, ORG would be the ORDINAL major rental car agency to change hands since DATE. ""The reason is they're not making any money,"" said ORG automotive consultant PERSON in GPE. ""Travel is hot, but the car rental business is going nowhere.""
That is not evident from the sudden interest shown in the MONEY a year business by a new class of investors who are buying up the agencies as the automakers unload them.
""They see opportunity for profits. The industry is in a mild recovery and it's probably a better time to own a rental car agency than it has been for a long time,"" said PERSON, editor of ORG, a trade journal in GPE.
ORG declined to comment specifically on an article in DATE's ORG that said ORG was expected to sell ORG, a GPE, ORG licensee, for MONEY.
A ORG spokesman also declined comment.
""No agreements have been reached among any parties,"" said PERSON, spokeswoman for PERSON, Ill.-based ORG. She declined further comment.
ORG said DATE it would exercise its option and buy out ORG's common shares, but analysts said the deal looks shaky now after delays resulting from an antitrust review by ORG.
Budget has been closely allied with ORG for DATE and rents mainly ORG vehicles. ORG's planned purchase of the company was meant to improve its performance.
Vinyard said ORG was exploring a possible sale because of rising investor interest in rental car firms. ""Interest in the group in DATE has increased significantly,"" ORG said.
Vinyard said the automaker does not plan to make any announcements regarding ORG following ORG's regular board of directors meeting scheduled for DATE.
ORG auto analyst PERSON in GPE said he expects ORG to sell ORG soon, likely to ORG. ""I think that one's pretty far along,"" he said.
""The real issue is that ORG is the small rental property of ORG. And if ORG is for sale, then so is ORG in the long run,"" WORK_OF_ART said.
ORG began investing in GPE, N.J.-based ORG in DATE when GPE automakers were buying up rental car agencies hoping to load up their fleets with the CARDINAL of new cars that consumers were leaving on the lots.
The strategy worked for a while, but then backfired when agency sales of barely used rental vehicles started eating into new car sales. GPE began encouraging the agencies to hold fleet cars longer, which restricted how many new cars the agencies could take on.
ORG bought all of ORG in DATE and, unlike many rental car agencies, ORG is probably profitable, analysts said.
""There is no big advantage to the automakers to owning these agencies anymore,"" WEFA's Magliano said. ""Probably along the way, ORG will sell ORG. Generally, when these companies begin to divest operations, they get rid of them all.""
Reassured by a back-to-basics management trend running through GPE industry, automakers started selling off rental car agencies in DATE with ORG sale of ORG. ORG sold ORG in DATE to private investors, who DATE agreed to sell ORG
Seeking to lock in supply for its fledgling ORG used-car chain, GPE-based Republic in DATE agreed also buy Alamo Rent-A-Car Inc.
DATE ORG sold its PERCENT stake in ORG to ORG, a real estate and hotel concern based in GPE.
ORG still owns Dollar Rent-A-Car and Thrifty Rent-A-Car. ""Our status DATE is that Dollar and Thrifty are very much a part of our everyday business. It's business as usual,"" said ORG spokeswoman PERSON.
""It is ORG's goal, however, to focus on our core automotive business,"" she added.
Based on GPE vehicle fleet size, ORG ranks privately held Enterprise Rent-A-Car, of GPE, as the nation's largest rental car agency, followed by ORG, GPE, National, Alamo, Budget, Dollar and Thrifty.
Together, Enterprise, ORG and NORP own CARDINAL of the total rental fleet of CARDINAL vehicles, according to the trade journal.","ORG leaped DATE of its scheduled plan for developing a new heart surgery technology thanks to an earlier-than-expected ORG approval granted on DATE.
As a result, analysts who had looked for ORG to turn its ORDINAL profit in DATE are now talking about DATE.
For its part, the company plans a GPE launch of its port-access surgical system in DATE. ""That's DATE than we had previously expected,"" said chief executive Dr. PERSON in an interview with ORG.  
Between now and then, ORG plans to equip its CARDINAL lead clinical training centers with port-access systems.
""We're targetting having CARDINAL surgical teams trained by DATE, then drastically increasing our training capabilities over DATE,"" PERSON said.
""Most analysts were looking at us crossing over (to profitability) in DATE. So maybe you could argue now that it could come in DATE, but I don't know that we would support that. I'm just saying what the analysts are doing,"" he said.
Shares in GPE slipped CARDINAL to CARDINAL on DATE afer soaring PERCENT on DATE after the ORG approval.  
Several medical technology firms are chasing the young market for minimally invasive heart surgery, in which surgeons work through small holes in the chest, instead of by cutting the chest open. Alone among potential rivals, ORG is focused on a technique that stops the heart and puts the patient on a heart-lung bypass circuit like those used DATE in traditional open-heart surgery.
Other companies, such as ORG and ORG, are focused on beating-heart techniques that eliminate heart-lung bypass. ORG is also working in the field.",1
"DATE, GPE's ORDINAL telephone network set out to challenge the powerful ORG) and bring competition into the country's a fast-growing market.
But the fledgling network has found it hard to tackle a seasoned competitor -- one that is also the market regulator.
""Are they (the ORG) supposed to be the referee or CARDINAL of the athletes on the playing field?"" asks PERSON, president of ORG, also known as ORG.
The arrival of ORG and the end of the MPT monopoly was initially hailed as a boost for GPE's long-suffering telephone subscribers, who often had to wait DATE for a telephone line and endure indifferent service afterwards.
But ORG has captured only a tiny slice of the market as its entrenched competitor has kept a tight grip on the telecommunications sector, using its regulatory clout to slow the upstart network's advance.
""They have delayed interconnections and won't give us telephone numbers for our customers,"" PERSON said in an interview. ""We need a telecommunications law to give us a legal framework.""
Unicom has CARDINAL shareholders, but the key backers of the project were the ministries of electronics industry (ORG), power and railways.
MANUFACTURING MUSCLE
The ORG has manufacturing muscle with a corps of factories producing telecommunications equipment. But it feared the ORG's equipment-making capacity would eventually squeeze it out of the market unless it had its own captive customers.
The other key partners had private telecommunications networks with spare capacity, while the ORG's public network was heavily overcrowded.
The feud between the rival NORP government camps was often bitter, sometimes ensnaring foreign companies. Firms that did business with the new network were threatened with blacklisting by the ORG, according to NORP industry sources.
Those frictions have eased somewhat in DATE, but it still took an order from ORG, or cabinet, for promised network interconnections to emerge.
GPE expects to have CARDINAL telephone lines installed by DATE -- adding a breathtaking CARDINAL in DATE alone. The total is likely to top CARDINAL by DATE, still only a small segment of the nation's CARDINAL people.
ORG says it should not be considered a competitor to ORG because it has a separate operating arm called ORG.
""Since DATE, we have separated policy making from business operations by creating ORG,"" said an ORG spokesman. ""The ORG is not both regulating and competing,"" he said, blaming ORG's slow progress on its own technical problems.
STRUGGLE TO BE IMPARTIAL
But GPE Telecom officials concede it is hard to say where one entity ends and the other begins. And even if they can draw the line cleanly, the ORG must struggle to remain impartial.
""They always say they are being fair,"" said ORG's PERSON. ""But ORG is their own child, and parents are always partial to their own children.""
Li took up the ORG reins in DATE, becoming the ORDINAL president in the company's brief history. She was tapped from her job as deputy mayor of the big industrial city of GPE to put political clout behind the ORDINAL network.
The company started with mobile telephone services, ORDINAL in the big cities of GPE, GPE, GPE and GPE, and eventually expanded to CARDINAL cities. It has made its greatest inroads in GPE where it has CARDINAL mobile phone customers, PERSON said.
""In DATE we will have PERCENT of the fixed line market and PERCENT of the mobile phone market,"" PERSON said.
CARDINAL clear success has been in bringing mobile telephone prices down. They now cost MONEY (MONEY) compared with MONEY before ORG came along.
PERSON says ORG is profitable on its operations, but that excludes heavy investments in building network infrastructure. Despite the cost of putting a network in place, ORG has CARDINAL advantage. Foreigners are not permitted to operate telecommunications networks in GPE, and many foreign firms give ORG capital in return for a share of the income.
That will at least ease the growing pains for the infant network, analysts said.","ORG on DATE launched its bid to become the main rival to state-owned ORG with the start a fixed-line telephone network in a residential area in this southern city.
""Local telecommunications are for ORG a major strategic axis,"" PERSON, managing director of ORG's telecoms unit ORG, told a news conference.
He said the group aims to have a market share in DATE yielding MONEY (MONEY) in DATE sales, of which CARDINAL would come from mobile communications.
In mobile telecommunications, ORG already competes with ORG with its SFR unit and it is allied to ORG and ORG for business services.
SFR expects to have CARDINAL customers by DATE, ORG said, against CARDINAL at the moment.
The local residential market is expected to grow at a moderate pace but nevertheless represent MONEY in DATE sales by DATE.
ORG said he aimed at gaining a PERCENT share in mobiles, PERCENT in long-distance and PERCENT for so-called local loops, or small networks.
CEGETEL, which counts ORG, ORG and SBC of GPE among its owners, has received permission from the NORP authorities for a telecoms experiment in GPE and from DATE it will offer residential telecoms services, using ORG technology.
The version of DECT, digitally-enhanced cordless telephone, applied in GPE uses radio waves to connect buildings to a telephone switch while the connections inside the building are of the classical type using a telephone socket.
DECT is also available in totally wireless versions.
The GPE experiment is small, with NORP expecting CARDINAL subscribers by DATE, but it is a precursor of ORG's assault on ORG and the company would invest MONEY in local loops with radio links in DATE to hone its skills ahead of market liberalisation in DATE.
A DECT service in GPE is expected to be ready in DATE as the biggest part of an initial series of CARDINAL towns which will add up to a population of CARDINAL inhabitants.
In GPE, subscribers pay CARDINAL per month for a subscription, get a PERCENT discount on calls using the GPE Telecom network and pay MONEY per minute for local calls.
The CEGETEL shareholders will inject MONEY at DATE to fund investments. ORG said that the final make-up of ORG's sharecapital would be known by DATE but he said it would be very close to the DATE agreement with ORG taking PERCENT, ORG and ORG.
""Changes are within PERCENT limit,"" he said.
ORG said that the success of CEGETEL, or any other rival to ORG in GPE, depended to a large extent on the interconnection costs and other payments telecom operators have to make to ORG to use its installations.
Telecommunications minister PERSON has started a wide consultation, set to end on DATE, in order to establish in DATE a price list of the services France Telecom can provide to its rivals.
""The level of the interconnection costs for us means either the right to live of the right to die,"" ORG said.
Another future rival to ORG is building and communications group ORG which has teamed up with GPE's STET.",0
"The family of detained NORP dissident PERSON said on DATE the former student leader could stand trial DATE for the capital offence of plotting to overthrow the government. They said the charge was unfounded.
""Not CARDINAL point in the bill of indictment broke the law, even less to speak of plotting to overthrow the government,"" his mother PERSON said in a telephone interview.
The DATE former leader of the DATE pro-democracy demonstrations has been charged with the capital offence of plotting to subvert the government, based on evidence such as writings critical of the state and accepting funds from abroad.
""All he did was to say a few things,"" PERSON said. ""He is unjustly accused.""
""He has always advocated peace and non-violence,"" she said. ""There must be action or plans to constitute ""overthrowing the government'.""
She said the family had yet to be notified of when her son's trial would take place, but she said it could come DATE.
Relatives said on DATE they had found a lawyer willing to defend ORG. The lawyer had already visited the court dealing with ORG's case to begin legal formalities, they said.
ORG had informed PERSON on DATE that she had one day in which to find her son a lawyer, a signal that a trial was imminent.
PERSON was detained by police in a raid on his home in DATE but was not formally arrested or charged until DATE.
On DATE the family obtained a copy of the court indictment, which accused PERSON of plotting to subvert the government, a crime that carries a maximum penalty of death. The minimum sentence is DATE, although the court can show leniency if it finds extenuating circumstances.
ORG has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in the DATE demonstrations centred in GPE's FAC, which were crushed by the army with heavy loss of life..
The indictment cited CARDINAL major areas of evidence against ORG, the GPE-based Human Rights in GPE said.
The ORDINAL was the writing of articles published in overseas magazines and newspapers, including some that criticised the government, in DATE since his release from jail.
Other evidence against the former ORG student included taking part in studies at home organised by ORG, in GPE, Human Rights in GPE said.
The charges accused ORG and other dissidents of joining forces to collect funds and donations to help other dissidents facing difficulties and failure to find work after their release from prison, the group said.
PERSON was also accused of accepting donations and economic aid from overseas organisations, it said.
ORG had been expected to face new charges since DATE, when the court that convicted veteran democracy activist PERSON -- a nominee for this DATE's WORK_OF_ART -- of plotting to overthrow the government also implicated the former student leader.
The court's verdict said PERSON, who was jailed for DATE, had links with people ""convicted of counter-revolutionary crimes, including PERSON"". It also referred to a tape-recorded conversation between ORG and PERSON, but gave no details.
ORG had been active since his release from jail, defying persistent police surveillance and harassment to join in a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.","GPE announced plans to create a major new force in the world defence industry on DATE, by selling state-owned defence and consumer electronics group ORG to ORG for a symbolic franc.
The government said it had preferred the bid by ORG, which owns defence company ORG, to the rival offer of largely civilian industrial group ORG.
""The choice I made DATE and which has been made public DATE is entirely based on a defence industrial logic,"" WORK_OF_ART told parliament
""We have opted for the offer which was the best to further our defence interest and which would constitute a world leading industrial group with strong export capacities,"" he said.
""The offers were comparable on a financial level. They both needed a capital increase,"" Finance Minister PERSON told a news conference. The state will make an MONEY (MONEY) cash injection to ORG prior to the sale.
Challenged in parliament about the cash injection, ORG said that ""Both ORG and Lagardere valued ORG at MONEY""
Loss-making ORG owns PERCENT of defence electronics company ORG and PERCENT of consumer electronics maker ORG which specialises in digital television and decoders and has PERSON and ORG as brands.
Lagardere said it is bidding MONEY a share, or MONEY in total, to buy the minorities in ORG which it will then merge with ORG. Lagardere will keep PERCENT of ORG while the NORP state will have a golden share to safeguard national security interests.
Lagardere will sell ORG to ORG.
The government said ORG was a well known investor in GPE and had knowledge of mass production techniques. ORG has made commitments on jobs -- creating CARDINAL new jobs in GPE -- technology and investments.
ORG management will remain NORP-based.
ORG said ORG would have to approve the cash injection and study competition issues. He said the sale would take place before DATE and the cash for the injection would come from other privatisations.
The independent privatisation commission, which has an important say in the sale of state assets, still has to give its advice on the sale. ORG said the government had not wanted to keep its choice secret, as would have been usual, until the privatisation commission's advice ""to avoid insider trading"".
The decision was a surprise as markets and the media had gambled ORG's no-nonsense chairman PERSON would take the prize over self-made entrepreneur PERSON, DATE, who is preparing to hand over power to his son, LOC.
Lagardere also owns publishers ORG and ORG.
ORG lost MONEY in DATE and has MONEY of debt. Wholly-owned ORG lost CARDINAL in DATE, but ORG is profitable and had DATE earnings of MONEY.
The government said Lagardere wanted to leave the share capital of microelectronics maker ORG by selling its PERCENT stake to the other main shareholders. ORG said it and ORG were ready to buy that stake and keep NORP interests at the same level as the stake of NORP companies .
ORG's shares rose sharply on DATE TIME on market relief. Analysts doubted its capacity to finance the ORG deal. Lagardere shares were suspended for DATE.",0
"Electronic commerce over the Internet - buying airplane tickets, music CDs, or clothes with a credit card - is not fiction anymore.
But security and other concerns hampered the Internet from becoming an international shopping mall in DATE, and security remains an issue for DATE.
Electronic commerce in DATE was not quite as robust as some firms had anticipated, as delays in developing the software to secure credit card transactions on the Net kept merchants and consumers at bay. E-commerce is still in its infancy and likely to explode toward DATE.
""This was kind of DATE,"" said PERSON, a ORG analyst. ""Many consumers are just starting to get online, merchants are trying to still figure out how to present themselves online.""
According to LOC, total revenues generated from all consumer shopping over the Internet and online services will reach MONEY in DATE. The revenues are expected to almost double DATE, to MONEY.
LOC, a GPE market research firm, forecasts DATE revenues to jump to MONEY and to MONEY in DATE.
Travel and the direct distribution of electronic products, such as PCs, software, etc., are the CARDINAL biggest categories of electronic commerce right now, Smith said, with travel making up CARDINAL of the MONEY in DATE commerce revenues.
Most of the giant retailers are sitting by the sidelines, watching and waiting for the security to be in place and to see what some of the catalog merchants and other more daring retailers are doing on the Internet, where there are many opportunities to save costs, keep inventories low and target customers with specific products aimed at their profiles.
""It's inventing whole new ways of selling stuff,"" said PERSON, the head of ORG Internet division.
ORG has developed a shopping mall called FAC, where mostly speciality retailers have storefronts.It also includes ORG, the popular unit of ORG
But still, Internet shopping is not viewed by consumers as completely safe. A recent study by ORGamp; ORG, GPE, reported that PERCENT of all public World Wide Web sites are fully able to host secure transactions.
""It's easy enough to know that if you get a warning from your browser that what you are about to do is dangerous...that this is a deterrant,"" said PERSON, a vice president at ORG readiness is an issue of consumer trust, confidence.""
Credit card companies ORG and ORG have been working together since DATE on software to secure credit card transactions, using data encryption (scrambling) techniques and authentication software to ensure identities of the consumer, the merchant and the Web site.
But the software development is behind, analysts and industry executives said, even though the protocols (the roadmap for software developers) called the ORG (secure electronic transaction) specification have been published.
The companies had said in DATE they expected banks to be able to offer secure bankcard services via the Internet to their cardholders in DATE.
""They have totally blown that deadline out of the water,"" Smith of LOC said. ""There was a bit of hype about it originally that made people think it would be done really fast."" Smith said the development has many diverse layers.
""There are issues that have to be sorted out. It probably won't be until DATE when it is fully implemented,"" Smith said.
Visa did not return a call seeking comment. A spokesman for ORG in GPE, GPE said that the companies remain ""on track"" with their original timeframes, but that ORG had no news since a recent announcement.
DATE, ORG purchased PERCENT of ORG, a leading electronic payment system using a payment card called a smart card, which are like electronic wallets. A group of banks and ORG endorsed the electronic cash card, with pilot testing already going on in some cities.
Smart cards will likely become one of the many ways consumers pay for purchases online. PCs will have built-in smart card readers, specifically designed for online buys.
So while the ORG software is still in development, companies are finding other ways to do transactions.
CyberCash, which is also a partner working on the ORG transaction system, is providing encryption software for ORG Web hosting service, so that small or large companies selling goods can have a secure credit card payment system, based on data encryption software currently available.
""SET isn't really all there yet,"" said PERSON, manager of Web server development at ORG. ""Cybercash has a system that is like a proprietary version of ORG...I don't think there is a reason to wait.""
Some companies are not waiting. While the big retail giants slowly enter cyberspace, a new breed of Internet retailers and brands are being born, like ORG, the popular site bookseller and ORG, an auction house for computers and consumer electronics goods.","A shipping tycoon whose company was bailed out by GPE when it was sinking DATE is poised to govern GPE when GPE takes over DATE, after a thumping victory in the ORDINAL round of the ballot.
PERSON swept up CARDINAL of the votes cast on DATE by an exclusive club of CARDINAL GPE rich and influential, who were selected for the purpose under GPE's close supervision.
The runner-up, former chief judge PERSON scored CARDINAL. A ORDINAL candidate, businessman PERSON, came in with DATE. The trio were the only candidates to get the minimum CARDINAL votes required to go through to the deciding round on DATE.
If an election were held by universal suffrage, however, PERSON would get PERCENT and ORG, an opinion poll by a local university showed after the vote.
Tung, DATE, recently revealed for the ORDINAL time that GPE had helped salvage his family shipping empire DATE by backing a MONEY syndicated fund led by pro-Beijing tycoon PERSON, a kingmaker in DATE's leadership contest.
""I know there were mainland funds in it. I'm sure. To Mr Fok and those who have helped me...I am very grateful,"" Tung said.
Fok went to pains after DATE's vote to assure reporters for TIME that the rescue package was above board and had not entailed any political deal on the future of GPE.
""I don't think he is returning favours to GPE by running for ORG,"" ORG said.
""Commercial relations are strictly what we have with those what you call NORP-funded banks. We deposit our money there or we borrow money from them -- it is strictly normal commercial relations,"" ORG said.
Tung has long been viewed as GPE's favoured candidate to become GPE Chief Executive when GPE hands its last NORP colony back to GPE at DATE.
Foreign Minister PERSON gave fresh assurances on DATE that the winner had not been preordained by NORP leaders.
Many in GPE are convinced that a demonstrative personal handshake that PERSON received from President PERSON in DATE was a deliberate cue.
Tung has tried to shake off the impression that despite the existence of other candidates it is really a CARDINAL-horse race.
""I dont think it is a foregone conclusion. It's DATE away to DATE...and I will have to be working very hard to make sure that I win on DATE,"" he told ORG after the ORDINAL round vote.
""The process of nomination DATE was done in a very transparent manner,"" he said.
Some analysts, noting that PERSON had scored PERCENT, wondered if a ORDINAL round was worth the bother and suggested that PERSON and PERSON might as well bow out.
""For, if the ultimate purpose of running is to win, then there is little point in them carrying on,"" said political commentator PERSON.
Tung, a striking figure with spiky grey hair and a boxer's stance, is noted for his cautious style and modesty.
He and his rivals will be interviewed by the committee members at DATE on their policies and attitudes.
So far he has emphasised the importance of the economy and business, and has taken a conservative view on ticklish issues such as human rights and democracy, advocating ""consensus rather than confrontation"" in dealings with GPE's communist rulers.
Speculation has abounded in GPE that some of its business titans may have been secret card carrying members of ORG for DATE. But GPE's name has until now not figured among these rumours.",0
"GPE's ORDINAL largest bank, ORG, announced a PERCENT rise in net profit for DATE, but warned that fierce competition would flatten profits in DATE.
""Everywhere you look and in every market we're in there's a lot of margin pressure,"" Westpac Managing Director PERSON told a news conference after the profit announcement.
""It will be tough to make a rise,"" he said when asked if profits for DATE would be flat.  
Westpac reported a net profit of MONEY for DATE, up PERCENT on CARDINAL, but this disguised a flat profit in DATE and was boosted by a sharp drop in bad debt charges for DATE.
Bad debt charges fell to MONEY in CARDINAL, down sharply from MONEY in DATE, a fall which ORG said contributed MONEY to the PERCENT rise in pre-tax and abnormals profit to MONEY.
PERSON said competition from non-bank mortgage originators in the housing loan sector was a key factor pressuring margins.  
Mortgage originators such as ORG and ORG have taken PERCENT of the mortgage market from the big banks including ORG over DATE, dragging home loan margins down from CARDINAL basis points to CARDINAL points. PERSON said PERSON would look to boost its own mortgage origination programme to help compete against the non-banks and support its margins.
Westpac has already launched CARDINAL issue of securitised mortgages worth MONEY, the ORDINAL of the major banks to do so.  
PERSON said PERSON planned to multiply the size of such issues in DATE.
""The real key for us will be to try to manage our balance sheet, have more assets off balance sheets, more securitising of lower margin assets,"" he said.
""We just did one near the tail end of the (DATE, MONEY, so we would expect to see quite a bit more in DATE,"" PERSON said.
When asked how much MONEY, he said: ""PRODUCT of MONEY.""
Even then, ORG would struggle to maintain its margin.  
Westpac reported in its accounts for DATE that the group's net margin had fallen to CARDINAL basis points over the whole DATE, down from CARDINAL basis points over CARDINAL.
PERSON said the fall was already apparent towards DATE.
""At the tail end of the year, it's actually less than what you would have seen for DATE,"" PERSON said.
He acknowledged ORG would find it difficult to keep that margin from falling from CARDINAL points.
Given the margin pressure, ORG would continue to focus on increasing transaction and other fees to compensate.  
""In such an environment, maintenance of overall net earnings growth will depend increasingly on attaining improvements in fee income generation, particularly non lending-related fees and on improved efficiency of operations,"" PERSON said in an earlier statement.
He told the news conference he would like to see ORG's efficiency ratio, which measures expenses to income, fall below PERCENT from the PERCENT evident in CARDINAL.  
This ratio worsened during DATE from PERCENT in DATE, due largely to the costs of acquiring and restructuring the Western NORP-based ORG.
PERSON said rationalisations throughout ORG over DATE would help to lower costs, improve efficiency and therefore compensate somewhat for the slimmer margins.
The bearish comments from PERSON helped PRODUCT close MONEY lower at A$MONEY.
-- PERSON -- FAC CARDINAL-2 9373-1812","GPE-born tycoon PERSON claimed victory for himself and for the NORP nation on DATE when he won the race for GPE future leader.
""For DATE, GPE has been a colony. Now we are in charge of ourselves. I believe most GPE people have confidence in the future,"" said PERSON.
""Some people still have worries, but I want to remind them that people walk the road together, success lies with the people and comes from their efforts,"" he said.
""I believe everyone should be clear that we want a better GPE, a better future,"" Tung said.
Tung was elected by ORG, a panel of CARDINAL members handpicked by GPE, to be GPE Chief Executive once the colony reverts to NORP rule on DATE.
In a short, prepared victory speech, GPE, DATE, stressed pragmatism and stability and downplayed democracy.
While noting GPE rule of law, spirit of freedom and strong civil service, PERSON said it was important to secure a smooth transition for the colony from NORP to NORP rule.
""I believe we can do better than before, based on the CARDINAL country-CARDINAL systems policy and under the protection of LAW,"" Tung said.
He was referring to GPE's policy for letting GPE capitalist system continue after it comes under the communist government's jurisidiction, and to its DATE constitution.
That Tung would be the man to take on GPE leadership yoke after the departure of the last NORP governor, PERSON, had been widely seen as a foregone conclusion.
The shipping magnate heads a family empire that was bailed out of financial difficulties by GPE DATE.
In the ORDINAL round of voting by the CARDINAL-member ORG, Tung took CARDINAL votes. On DATE, he won CARDINAL votes.
His speech was delivered at GPE FAC immediately after his victory was declared by NORP Foreign Minister PERSON, who said PERSON had become GPE most democratically elected leader to date.
The voting process, long criticised as undemocratic and unrepresentative of GPE CARDINAL people, was a step forward on the colony's road to democracy, PERSON said.
""People may have differing opinions about the pace of democratic change in GPE, but DATE, under LAW, I believe we are making the ORDINAL step towards democracy and this is most suitable for GPE situation,"" Tung said.
""This is a good start,"" he said. ""DATE we elect our own chief executive and in the future, we will follow LAW and the actual situation of our society, step by step, to push democracy forward,"" he said.
He called on GPE political parties not to politicise issues but to work together for the sake of their country and for all NORP people.
Demonstrations were part of GPE culture, he said, but people should instead sit down and discuss their grievances.
Tung emphasised public welfare reform and called for a long-term re-examination of education, welfare for the elderly and industry policy.
He was leaving for GPE, a NORP special economic zone on GPE border, later on DATE, where he was expected to receive GPE's official blessing as GPE next leader.",0
"ORGamp; Co. DATE reported record DATE and DATE earnings as demand grew for its agricultural, industrial, commercial and consumer equipment worldwide.
Net income jumped PERCENT to MONEY, or MONEY a share, for DATE, from MONEY, or MONEY a share, in the DATE period. Revenues rose PERCENT to MONEY from MONEY.
""The company's operating margins remain strong as our focus on continuous improvement and growth is having a positive impact throughout our businesses,"" ORG Chairman PERSON said in a statement.
But DATE profits were less than some analysts had expected, although results did include a MONEY after-tax write-off to integrate and consolidate various NORP operations.
ORG's stock dropped $MONEY to $MONEY on ORG.
""Deere came in a little light on a reported basis,"" ORG analyst PERSON said.
Profits for DATE rose PERCENT to MONEY, or $MONEY a share, from MONEY, or $MONEY a share, DATE. Revenues climbed PERCENT to MONEY from MONEY.
CARDINAL area of weakness was ORG's commercial and consumer equipment business, such as lawn and landscaping products.
Worldwide commercial and consumer equipment operating profits fell to MONEY for DATE from MONEY DATE, and to MONEY for DATE from MONEY DATE. Deere blamed the drop on lower sales volume and increased promotional and growth expenditures.
""The CARDINAL big operational shortfall that was very, very disappointing and was a surprise to us was the commercial and consumer business,"" ORG analyst PERSON said.
PERSON, Ill.-based ORG said export sales from GPE continued to grow, by PERCENT to MONEY for DATE from MONEY DATE.
Overseas sales for DATE remained very strong, rising by PERCENT to MONEY, topping MONEY for the ORDINAL time in the company's history, ORG said.
Worldwide agricultural equipment operating profits jumped to MONEY for DATE from MONEY in DATE period.
Worldwide demand for John Deere agricultural equipment remains very strong, PRODUCT said.
Overseas agricultural equipment sales, which were strong during DATE, are expected to continue to increase in DATE due to sales in GPE and GPE.
Industrial equipment operating profit fell to MONEY for DATE from MONEY DATE. Deere cited increased development expenses associated with improving the fuel efficiency and emissions performance of new engines.
Net income of ORG's financial services subsidiaries was MONEY for DATE vs. MONEY DATE.
Looking ahead, ORG said it expected worldwide physical volume of sales to dealers on a comparable basis to increase by PERCENT in DATE compared with DATE.","ORG DATE announced the sudden resignation of the head of its aerospace business, PERSON, sparking speculation that disagreements over cost-cutting tactics might have hastened his departure.
Lanese, who joined the aircraft and aerospace firm in DATE as senior vice president of finance, left the firm in an apparent disagreement with President PERSON.
""Although PERSON and I were in total agreeemtn regarding business objectives and strategy, we had sharp differences involving management and leadership styles,"" Stonecipher said in a statement. ""After DATE of working together, it became obvious to me that these differences could not be reconciled.""
ORG analyst PERSON called PERSON's departure ""a bolt out of the blue.""
""Herb had been tasked with reducing costs at ORG at the military aircraft business,"" ORG said. ""It may well have been (a dispute over) how do you go about doing that.""
Lanese, who became president of ORG in DATE, after serving as deputy president since DATE, had a difficult job from the start, analysts said. His focus on cost-cutting meant he had to tackle the thorny issue of reducing employment.
""When PERCENT of your costs are people, cost-cutting is a euphemism for cutting people,"" ORG analyst PERSON said. ""It's the hardest thing that you can do.""
Job security became the crux of labor troubles at ORG, with a strike by ORG that lasted from DATE until DATE.
Cost-cutting is ""where his (Lanese's) expertise lay with the company,"" said PERSON, assistant director of business at FAC of the ORG union. ""And we weren't ready to be cut corners on.""
Slashing costs and raising capital, however, were hallmarks of GPE's career when he was chief financial officer of ORG. Analysts credited him with a financial turnaround, which included raising cash and slashing debt, that led to record earnings.
""Singlehandedly, he was the person that I think was majorly responsible for the change in ORG,"" PERSON said.",1
"NORP industrial conglomerate ORG reported a heavy fall in net profit on DATE but said the group was now ready to ""take off"".
ORG posted a PERCENT drop in net profit to MONEY for DATE, within stock market forecasts, and its bullish outlook encouraged investors.
""It's right in the middle of expectations but I think the comments that came with the result about the second half were upbeat enough to ensure the stock will go higher,"" a stockbroker told ORG.","GPE's biggest company, resources and steel group ORG (BHP), said on DATE it has agreed to pay its domestic steel workers a PERCENT pay rise over DATE.
ORG (ORG), which claims to represent PERCENT of ORG CARDINAL unionised steel workers, also confirmed the deal, saying it was struck and endorsed by the workforce just before DATE.  
ORG and the ORG said the DATE wage rises, effective from EVENT, were for PERCENT in calendar DATE and PERCENT in DATE, paid as PERCENT instalments in DATE and PERCENT in DATE.
The wage rises include site-specific productivity offsets at steel mills around the country, but also included an adjustment for inflation and took into account other steel industry wage agreements, ORG spokesmen told ORG.  
""These increases are to take place in the context of the agreement on the specific initiatives for improved performance through the introduction of incentive workplace agreements,"" ORG said in a short statement.
ORG negotiator PERSON said the wage deal did not affect existing performance-related payments, under which workers can earn DATE bonuses of up to PERCENT of salary.
Eagles described the deal as a good outcome given the prospects for continued low inflation and predicted the wages of all NORP blue-collar workers would come under pressure.  
""I think in this environment, with the way the CPI is, I think the trend in DATE is going to put enormous pressure on wages to be kept low,"" he said.
""So a PERCENT outcome over DATE is going to be seen as quite an achievement.""  
A ORG spokesman told ORG the deal was satisfactory.
""Part of the agreement involves union agreement to introduce new types of employment arrangements which eliminate traditional demarcation lines and have novel concepts in terms of employment which provide us with a business benefit,"" the spokesman said.
""We think this is a satisfactory resolution, bearing in mind the benefits of those innovative agreements,"" he added.
The deal was in line with a recommendation made to the company and union DATE by GPE's labour tribunal, ORG.  
ORG initially offered PERCENT over DATE, while the ORG entered negotiations seeking PERCENT over DATE.
The agreement comes as wages growth continues to be cited by GPE's central bank as a major concern for inflation, now at historically low levels and well within ORG target range of CARDINAL.
The deal averted the threat of strikes at ORG's steel plants around the country, but the group's minerals division continues to feel the effects of industrial strife.  
CARDINAL workers downed tools on DATE over wage and benefits disputes, halting construction of a MONEY iron ore processing plant being built for ORG at FAC in LOC.
The striking workers are engaged to independent contractors hired by ORG.
In DATE, ORG coal miners in LOC state called a strike over cuts in accident compensation payouts.
-- GPE newsroom CARDINAL-9286-1421",1
"NORP regional electricity company ORG said on DATE it would rush out results by DATE to show that a MONEY bid from ORG of the GPE was inadequate.
In its first formal defence since ORG posted its bid on DATE, ORG said the DATE figures, previously scheduled for DATE, would include ""important financial information"" to show the value of the company.
It reiterated its belief that the MONEY per share CE offer was too low and ""below even the lowest price put...by the bidder prior to the launch of its hostile offer.""
Northern said when the bid was announced at DATE that ORG, which is PERCENT owned by GPE energy group ORG, had suggested a price of MONEY per share, a claim that the NORP have denied.
ORG made no immediate comment on LOC's latest statement.
The GPE group has already snapped up PERCENT of its target, as its shares have been clouded by uncertainty over whether the government will approve the bid. Northern shares were up just MONEY by DATE ORG to MONEY.
The company reiterated plans to pay a MONEY special dividend in DATE if ORG offer lapsed and said that could mean the GPE firm stood to reap gross yields of PERCENT a year from its net investment.
""ORG is worth more to ORG,"" the company said in a statement.
Chairman PERSON added that the company ""believes that uncertainty as to whether ORG bid will be referred to the MMC (ORG) is currently dominating the market's reaction,"" which is keeping shares low.
So far, the government has approved takeovers of CARDINAL of the original CARDINAL cash-rich regional electricity companies (recs) in DATE, CARDINAL of which have been bought by GPE companies.
CARDINAL bids for recs have been blocked, when offers from generators ORG and ORG were deemed against the public interest in a surprise decision by trade secretary PERSON.
Northern itself is the only rec to survive a hostile bid, when it fended off ORG, now a unit of PERSON, with a QUANTITY (MONEY) benefit package DATE.
Since LOC came under threat, ORG has agreed to a MONEY per share MONEY takeover by ORG of the GPE
PERSON, CARDINAL of the CARDINAL remaining recs untouched by bids so far, denied on DATE a report in the DATE Telegraph that it was in talks with Entergy of the GPE, a report also denied by ORG.
Shares in PERSON gained MONEY to MONEY while GPE slipped MONEY to MONEY.
The market is now worried that political pressures on the Conservative government, in ORDINAL place in opinion polls ahead of a general election which is expected within DATE, might prompt it to block any more bids.
The sector, privatised by the NORP in DATE, has reaped unpopularity for high dividend payouts, hefty executive pay packets and head-turning takeover deals.
""We believe this bid should be decided on value and...(call) for a rapid end to this period of regulatory uncertainty,"" ORG's chairman PERSON said in a statement.
($MONEY Pound)","Welsh multi-utility Hyder's shares rose after it posted a PERCENT hike in DATE profits on DATE and said electricity business PERSON, which it took over in DATE, should boost earnings.
Pretax profits rose to MONEY (MONEY) for DATE from MONEY DATE, and Hyder paid an interim dividend of MONEY per share from MONEY. The results were in line with forecasts.
Shares were up MONEY to MONEY by DATE ORG.
The company said in a statement that PERSON, taken over by ORG to form Hyder, ""should be materially earnings enhancing on DATE basis.""
It added that efficiency savings from its merged services were ahead of target.
""These are very good results. Hyder is also showing that synergy savings are happening more quickly than expected,"" said CARDINAL analyst who asked not to be identified.
Hyder managing director PERSON said in an interview with ORG that PERSON's savings were ahead of targets set before ORG bid DATE.
""Before the bid, PERSON was looking at savings of MONEY by DATE. We are slightly ahead on achieving those,"" he said.
Hyder said in DATE that the merger could cut operating costs by MONEY in DATE while cumulative cost savings from the merger should total MONEY by then.
That compares with cost savings of MONEY in CARDINAL predicted by ORG, the ORDINAL multi-utility to be created when ORG took over regional electricity company PERSON DATE.
ORG also said it expected real dividend growth of PERCENT, but ORG would not comment on whether Hyder would maintain DATE real dividend growth of PERCENT.
""We will let actions speak louder than words,"" he said.
Hyder will continue to take costs out of its regulated businesses which should help dividend growth, ORG said.
But it will also be looking to increase its non-regulated business, he said. Those turned in profits before interest of MONEY in DATE.
Its infrastructure business saw profits before interest leap to QUANTITY from CARDINAL DATE and the company said its ORG business profits are ""continuing to improve.""
ORG said the infrastructure business should benefit from government moves to finance projects through the government-sponsored ORG.
""That could be a very big market,"" he said.
Hyder will aim to secure a ""largish number of MONEY-a-time projects,"" which spread exposure, he said.
He said returns for Hyder on its involvement with a group which won a contract to run QUANTITY of the busy GPE motorway between GPE and GPE in central GPE ""will considerably exceed our cost of capital.""
Hyder holds a PERCENT stake in that group, GPE Highways, along with PERSON, PERSON, GPE's ORG. ($MONEY Pound)",1
"GPE gave GPE President PERSON a signal on DATE that the election had not cleared away nagging trade disputes, saying it planned tit-for-tat curbs on NORP imports.
GPE said it would suspend temporarily its imports of some GPE textiles, farm goods and alcoholic drinks in retaliation for GPE's imposition of punitive charges on NORP purchases of NORP textiles.
The announcement came DATE after PERSON's re-election triumph and ahead of a planned visit to GPE DATE by GPE Secretary of ORG PERSON.
NORP relations have been strained over DATE by a range of issues from GPE to arms proliferation to trade and human rights.
GPE and the GPE have said they saw an improvement in relations since the CARDINAL sides narrowly averted a trade war over copyright piracy and exchanged diplomatic fire over GPE's political rival, GPE, DATE.
GPE said DATE that it saw PERSON's re-election as a good opportunity for better ties in a ""somewhat improved atmosphere"".
The temporary import ban, which would take effect on DATE, was in retaliation for what GPE called severe violations by the GPE of a bilateral textile accord.
""The decision was made in response to the GPE unilateral cut of import quotas of NORP textiles, which severely violated the bilateral textile agreement,"" the official ORG said.
In DATE, GPE announced punitive charges DATE import quotas for NORP textile goods, accusing GPE of using transshipments to avoid GPE quota restrictions.
The action -- which was expected to cost GPE MONEY -- marked the ORDINAL time GPE had imposed so-called triple charges against repeated violations of a bilateral textile accord.
The GPE move was made without full consultation and clear supporting evidence, ORG said.
GPE accused GPE of imposing a series of barriers that had seriously affected NORP textile export to the GPE as well as GPE's ability to pay for NORP imports.
GPE said it had urged the GPE to withdraw the penalties but its pleas had been ignored, leaving it no choice but to take action.
GPE's import suspension would also apply to GPE fruits and animal husbandry products, though there was no indication of which specific items would be barred within the broad product categories.
ORG and ORG would have a detailed list ready before DATE, according to ORG.
GPE also said it opposed any attempt to impose the will of CARDINAL side upon others in trade matters, and called on the GPE to avoid such measures in future.
""Once again, we wish to urge GPE to handle trade disputes in the spirit of advancing bilateral trade, and refrain from taking any actions harmful to bilateral trade in the future,"" it said.","GPE has tightened safety measures after a fatal rocket explosion DATE and has found the cause of another launch failure in DATE, NORP space officials said on DATE.
Further testing was needed for the Long March 3 rocket and that could delay GPE's launch schedule, they said.
""NORP vehicles will now self-destruct if there is a failure,"" said PERSON, vice president of ORG.
""We will also ensure that people (living in the area of space centres) will be moved away when we conduct a launch,"" he told an international conference on space technology.
A Long March 3B rocket exploded shortly after launch in DATE, killing CARDINAL people and injuring CARDINAL, according to official reports.
Unofficial sources have put the casualty toll much higher.
GPE's commercial space drive suffered another setback in DATE when a communications satellite failed to reach proper orbit after launch aboard a Long DATE rocket.
""We have determined the cause of the DATE failure and have taken corrective measures,"" said PERSON, adding that the problem stemmed from a faulty hydrogen valve on the ORDINAL stage of the booster rocket.
""We are still conducting ground testing,"" he said. ""There will be delays (in DATE) programme DATE but this will not affect other Long DATE vehicles.""
An official of ORG, which oversees commercial satellite launches, said a Long DATE rocket could be launched by DATE or DATE.
CARDINAL other launches using the Long March 2D and Long March 3A rockets were also expected to be made by DATE.
In DATE, a Long DATE rocket blew up, killing CARDINAL people and destroying the Apstar 2 satellite it was carrying.
GPE once enjoyed a reputation of being a cheap and reliable provider of satellite launch services but the string of failures has shaken its hopes of playing a bigger role in the commercial space business.",1
"CARDINAL NORP mining companies are caught up in a quarrel over what do with the ORG copper-gold project in GPE.
ORG, a GPE-based exploration company, ORG, a big GPE-based miner, and troubled GPE-based ORG are partners in the deposit.
Adrian, which controls PERCENT of the find, says that a feasibility study on the property done by Teck was ""incomplete and not in compliance with existing arrangements.""  
Teck had an option to acquire PERCENT of the development by funding a feasibility study and eventually operating and arranging to fund the mine.
But ORG said PERSON has not filled the ORDINAL requirement to move forward with its option.
""They had a job to do and they didn't complete it,"" PERSON, a consulting geologist for ORG, said in an interview on DATE.
""Our stand right now is, they do not have their option until they complete their obligations,"" Turnbull said.  
But Teck says there was nothing wrong with its feasibility study.
""The study was a comprehensive assessment of the project, but...the economics would make a production commitment difficult under present metal price conditions,"" Teck's senior vice president of mining operations, PERSON, said in a statement.  
Teck hopes to resolve its difficulties with NORP and work with the junior company and ORG to continue exploration on the property in search of higher grade ore, Teck's vice-president of corporate affairs, PERSON, said in an interview.
The ore at ORG so far is low grade, he said.
""The capital costs are higher than we had both anticipated DATE,"" he added.
He said Teck's agreement with NORP allows Teck to defer a production decision twice before NORP ""can make us walk.""  
""Their problem is they came out with a very optimistic scoping study,"" PERSON said. He said ORG had not revised its projections.
According to ORG, the study said the property had a geological resource of MONEY of ore, including MONEY of copper and QUANTITY of gold. The study said the proven reserves came to QUANTITY of ore containing MONEY of copper and QUANTITY of gold.
Teck's numbers were considerably lower but the company had not done sufficient infill drilling, ORG said.  
The spat has knocked ORG's stock down from C$MONEY on DATE to C$MONEY by DATE on ORG.
Caught in the middle of the dispute is ORG, which has just written off a series of mining interests and is struggling to regain investor confidence. Inmet controls PERCENT of ORG.
""Under the current metal price conditions, we agree with Teck,"" ORG's chief financial officer PERSON said in an interview.
But he said the company did not have anything to add to the dispute.
((ORG (CARDINAL) 941-8100))","DATE results from GPE's CARDINAL biggest banks show they have moved back into the black despite hefty write-offs of problem loans.
Analysts said figures released by CARDINAL trust and credit banks on DATE showed that all of GPE's big banks had continued actively writing off problem loans resulting from the collapse of GPE's DATE asset ""bubble"".
The CARDINAL biggest commercial banks announced their interim earnings and loan write-off statistics on DATE.
Combined write-offs by the CARDINAL biggest banks totalled MONEY (MONEY) in DATE of DATE.
At DATE, ORG said the CARDINAL banks had MONEY (MONEY) worth of problem loans, which include loans made to bankrupt companies and those on which interest payments are in arrears by DATE or more.
DATE, the CARDINAL big banks disposed of MONEY (MONEY) worth of problem loans.
PERSON, an analyst at ORG, said the CARDINAL banks may dispose of MONEY (MONEY) worth of problem loans in DATE in order to cut the size of problem loans to manageable levels.
Analysts said many big banks were now recovering from the difficulties caused by the problem loans, but some financially-weak banks would continue to struggle to dispose of such loans in DATE.
PERSON, an analyst at ORG, said that major banks should be able to cut their problem loans to manageable levels DATE, but added that ""some banks are still reeling from the bad loan problem.""
CARDINAL long-term credit banks -- ORG, ORG and ORG -- all recorded parent current profits for DATE after posting parent current losses in CARDINAL.
Current profit is pre-tax and includes gains or losses from sales of securities.
The CARDINAL said they disposed of MONEY (MONEY) of problem loans in DATE against a total of MONEY (MONEY) DATE.
The smallest long-term credit bank, ORG, said that it hoped to cut its problem loans to manageable levels by the end of CARDINAL at the earliest.
As of DATE, problem loans at ORG stood at MONEY (MONEY) or PERCENT of its total loans.
GPE's CARDINAL major trust banks, all of which posted parent current losses in CARDINAL, said they posted combined parent current profits of MONEY (MONEY) in DATE after disposing of MONEY (MONEY) of problem loans in the period. This compared with disposals of MONEY (MONEY) DATE.
A trust bank executive said the banks' combined parent current profit for DATE was a record as NORP authorities had eased special reserve requirements for trust banks in DATE to free up funds to dispose of problem loans.
Analysts said the CARDINAL banks would use MONEY (MONEY) of the special reserves to write off problem loans in fiscal CARDINAL.
PERSON, the managing director of ORG, told reporters that the bank aims to reduce its problem loans to manageable levels in DATE.
""We are planning to dispose of a total of MONEY (MONEY) of problem loans in CARDINAL,"" he said. (MONEY)",0
"The London High Court on DATE adjourned a hearing to decide whether NORP authorities will hand over to GPE documents related to the business affairs of NORP media tycoon PERSON.
The judge decided the hearing could not be finished in DATE allotted and lawyers would have to return in DATE before CARDINAL new judges.
GPE's ORG office (ORG) seized the documents -- CARDINAL bags full -- DATE from GPE lawyer PERSON who represents the business interests of former NORP Prime Minister PERSON, who, among other things, owns CARDINAL TV channels and the football club ORG.
An ORG statement after the adjournment said: ""We regret that the court has not been able to hear this matter, particularly as it is now DATE since the documents were seized.""
The hearing stemmed from an appeal by PERSON and his company ORG and others against a decision that the papers be handed over to NORP magistrates.
An earlier court hearing was told the papers were linked to fraud and false accounting allegations amounting to MONEY (MONEY) at overseas companies which were moved from GPE to GPE.
NORP investigators suspect ORG may have used offshore companies to channel payments to politicians.
Berlusconi is on trial in GPE for alleged complicity in bribing tax officials for lenient audits of ORG companies.
The tycoon, who leads the centre-right ORG, has also been indicted in another case in which he is charged with illegal party funding.
In court on DATE, a lawyer for the appellants told the judge the ORG had allowed NORP police too much time to see the documents before a decision was made on whether to send them officially to GPE.
She also alleged that the NORP government's request for documents was too wide and amounted to a ""fishing expedition"", which is not allowed under NORP law.","International accountancy and consultancy partnership ORGamp; PERSON said it made a profit of MONEY (MONEY) in GPE as it revealed financial details of its operations for the ORDINAL time on DATE.
The PERCENT rise in profit in DATE was made on gross fee income of MONEY and represented a PERCENT rise in average profit per partner of MONEY.
ORG; PERSON's senior partner PERSON also confirmed that the firm was still planning to become a limited liability partnership registered in LOC of GPE despite the fact that the government has said it intends to introduce legislation recognising partnerships of this kind in GPE.
Land also said that ORGamp; PERSON's worlwide revenue for DATE would show a PERCENT rise to MONEY.
ORG; PERSON is the world's largest tax accontancy practice and the ORDINAL largest management comsultancy after PERSON. It was formed in DATE from the merger of ORGamp; ORG and ORG.
ORG; PERSON's move to limited liablity reflects an industry-wide change whereby accountancy firms feel exposed by their current unlimited liablity status, which puts personal assets in jeopardy if the firm were to become insolvent.
Under an ORG, only the capital subscribed by each partner, which currently totals QUANTITY, and the personal assets of those partners shown to be directly responsible for any negligent act leading to a loss would be at risk.
Land said there was too much political uncertainty in GPE ahead of DATE general election to rely on NORP legislation regarding LLPs emerging any time soon.
The firm's move to ORG status is dependent on GPE's legislation being finally approved and on the ORG's tax status being agreed with GPE's ORG.
Land said that ORGamp; PERSON's decision to publish its results had not been taken to gain any advantage.
""We are not doing this for any competitive advantage,"" Land said. ""We just thought it was time that we did it.""
He added that ORGamp; PERSON wanted to take a full part in the debate on corporate governance and could hardly do so unless its own financial affairs were transparent.
""Clients are also beginning to ask questions about our financial strength.""
Fastest growth in DATE was shown by ORGamp; PERSON's management consultancy which increased gross fees by PERCENT to MONEY.
Only its insolvency practice saw a decline in fees during DATE, ironically hit by the recovery in the NORP economy.
($MONEY Pound)",1
"ORG said on DATE its MONEY merger with ORG will give the combined company great strength in international calling, consulting and in GPE local calling.
""Collectively we have the size and strength to compete with any telecommunications company in the world,"" ORG Chief Financial Officer PERSON told ORG in an interview.
GPE, also a director at the new combined firm PERSON, said putting together ORG's ORG with ORG's Syntegra would give huge power in consulting and systems integration.
""This is a scale game and this really positions us to compete with the likes of ORG (ORG) and ORG),"" GPE said.
Analysts agreed ORG had a lot to offer BT in consulting.
""BT is getting its lunch eaten in GPE systems integration,"" said PERSON of consultancy ORG.
GPE predicted the deal could help hasten the end of the creaking international settlements system, which restricts the carriers and rates used on most of the world's international call connections and which keeps calls expensive.
""It positions us to take advantage what will probably be the coming collapse of the international correspondent relations market, which is the settlement system,"" he said.
The system is under siege because liberalisation is opening up domestic markets in several key countries like GPE, and new carriers domestically will want to get into the international calling market too.
Analysts say that as the international market opens up, calling rates for customers will fall.
GPE said there is big money to be made in the MONEY a year GPE local market as well, partly through ORG, ORG's business market local calling subsidiary.
""If you want to look at return on capital there is no better investment ORG could make than investing in the local market where we have PERCENT EBITDA margins,"" GPE said.
EBITDA is earnings before interest, taxes, depreciation and amortisation.
""BT will invest through ORG into the local market and earn considerable returns on the capital, far more than I believe they could investing in their own market,"" GPE said.
He also expected that ORG's aggressive management team would be a great asset to ORG, particularly in the GPE market.
GPE said that on top of all the business advantages there would be a great deal of money saved by cutting out overlaps and inefficiencies between the CARDINAL companies.
""Financially we have the synergies...MONEY over DATE,"" GPE said.
GPE, who will be getting a board position at ORG, said that he was determined to make sure that investor relations (ORG) efforts were kept up in GPE to avoid the shareholder base switching over too much to GPE.
""I believe its partly a result of the fact that the sell-side analysts who tend to follow the company tend to be those in the larger company. When you lose the sell side analysts you lose the involvement of the institutional sales forces,"" GPE said.
ORG's PRODUCT said that the new company would tighten up a lot of areas which didn't work in the existing PERCENT stakeholding partnership.
""Huge areas will disappear now, where they had been duplicating effort,"" said PERSON. He saw it as the right decision, and a brave one to make the partnership work.
""Now there will be no excuses,"" he said.","Satellite television company DirecTV will on DATE slash the price of its entry-level receiver dish to $MONEY to grab customers before digital cable TV competitors get going, sources close to the company said.
""The new entry level price will be MONEY,"" a source said, declining to be identified. DirecTV declined to comment.
DirecTV, part of ORG, is responding to recent similar price cuts by rival ORG DirecTV's cheapest dish currently costs $MONEY, although models costing MONEY are available.  
The price cuts are linked to taking a package of basic programming service which costs MONEY a year.
ORG, which has a PERCENT stake in DirecTV and markets the service directly, will not be changing the price of its own package which already offers the dish for $MONEY to consumers who are in its True Rewards program.
Consumers in that ORG program have to use loyalty points earned towards the cost of the service.
The dishes are made by ORG ORG. ORG is owned by GPE's ORG  
However, another source said ORG would begin to apply discounts to the cost of programming, reducing it to $MONEY a year from the current $MONEY for True Rewards members.
AT&T declined to comment.
DirecTV is the largest GPE direct satellite service, with CARDINAL subscribers, and growing at PERCENT a year.
ORG is the ORDINAL largest with CARDINAL. It is owned by a group led by cable TV firm ORG . PRODUCT is ORDINAL with CARDINAL.
The turf war is already on between telephone companies, cable TV firms and satellite operators for a digital entertainment market worth MONEY.
Phone firms are planning to offer wireless cable that beams programs by line of sight, cable TV companies are planning upgraded cable services and internet access over high speed networks, but satellite companies already have a lead.
""They are DATE out in front while the cable TV firms and telcos are just getting started,"" said PERSON, an analyst at ORG.
CARDINAL advantage of satellite services -- not lost on ORG, which has an option to take a stake of PERCENT in DirecTV -- is that consumers who buy a dish are not likely to write off the cost by switching to another provider.
AT&T, which is suffering from heavy competition in long distance telephone services, is hoping to cut the loss of customers by tying them in to a satellite TV service.
""The bottom line is that this is all about market share,"" said PERSON.  -- New York Newsroom 212 859 1712",1
"GPE has missed a golden opportunity to export corn and earn MONEY, and now has up to QUANTITY of the grain rotting in silos in the country's north, LOC traders said on DATE.
""DATE is going to be a major disaster,"" a GPE trader said.
""All that corn sitting in GPE is just rotting,"" he said, adding his estimate that QUANTITY of corn was stored in northern silos in anticipation of exports.
Corn, grown predominantly in GPE's far northeastern provinces of GPE, GPE and GPE, began moving to northern ports, particularly GPE, around DATE, traders said.
""People had geared up for a huge export programme and I think the traditional northeast suppliers anticipated QUANTITY being permissioned for export,"" a trader in GPE said.
Concern about national food security and the impact on domestic prices that exports would have in an atmosphere of acute inflationary paranoia had kept GPE out of the world corn market, trading sources said.
Corn and rice exports were banned in DATE after stocks fell to frighteningly low levels in a country where the governing ORG bases much of its ruling mandate on availability and affordability of staple foods.
Imports soon began, totalling QUANTITY in DATE. Corn imports in DATE were QUANTITY, customs figures show.
Expectations began building in DATE that GPE's central grain authorities would allow corn exports to take advantage of high world prices and also to ease a local surplus and push up softening domestic prices. Prices had dropped below $MONEY a tonne in some areas.
Word at the time from traders involved in negotiations with GPE's central grain reserve on what nature the exports should take -- barter or cash -- was that the corn would be sold mostly to GPE and GPE at MONEY a tonne.
""There was a stage when they could have got $MONEY, and from the inverse they could have picked up $MONEY a tonne selling ORG (free on board) and picking up from the GPE DATE,"" the GPE trader said. ""They missed a big opportunity.""
CARDINAL of NORP corn was sold to GPE, GPE, GPE and GPE, or bartered for equipment supplied by NORP food processing corporations as part of joint-venture deals, industry sources said.
GPE's government, however, remained adamant that the export ban had not been lifted.
Officials of the newly-established ORG, set up by the GPE provincial government and opened for business on DATE, told ORG the province had its biggest stockpile in history, QUANTITY.
The company was applying for the right to import and export corn ""in order to solve the problem of huge corn stockpiles,"" an official of the company said.
Official figures put DATE corn production at QUANTITY. Output in DATE has been projected by media to hit QUANTITY. DATE demand is MONEY.
Traders and grain industry sources have said GPE's total corn reserves are QUANTITY.
Traders said that while owners of the corn stocked at northern ports such as GPE, Yingkou and PERSON had lost money on transport, storage and deterioration, the grain was now slowly being absorbed back into the domestic market.","GPE, the world's biggest copper exporter, hopes to forge close trade and technical support ties with GPE, the world's biggest copper importer, Deputy Minister of Foreign Affairs PERSON said.
""There is NORP interest in participating in some mining projects in GPE, and we have an interest in participating in service and technology in copper mining in GPE,"" PRODUCT told ORG in a recent interview.
Of GPE's total DATE mining exports worth MONEY, MONEY was earned from selling copper to GPE, he said.
""It is not only potential ... this is reality,"" he said. ""If we look ahead, there are some forecasts that in DATE we will produce CARDINAL of the world's total copper.
""But looking at MONEY (NORP) people and the rush for development in GPE, we should not exclude GPE as a very important client for NORP copper.""
GPE, with PERCENT of world copper reserves, mined QUANTITY of the red metal in DATE, far ahead of its closest rival GPE, with CARDINAL, and ORDINAL placed GPE with QUANTITY, NORP figures show.  
Copper accounted for PERCENT of GPE's total exports in DATE of MONEY, the figures show.
GPE's DATE demand for copper has been officially put at QUANTITY.
Its copper imports for DATE were expected to be QUANTITY, the president of ORG, PERSON, said in DATE
Trade and industry sources have speculated recently about GPE's interest in buying copper properties in GPE, along similar lines to recent investment by major NORP corporations in GPE's iron ore industry.
But CARDINAL source with a major regional producer said the high price of NORP copper mines, combined with a cash squeeze in GPE and the poor international reputation of NORP buyers, would keep NORP producers reluctant to forge long-term ties.
""I don't see GPE guaranteeing long-term supply contracts,"" the industry executive, based in GPE, said.
""It is not the way they work because if the prices fall, they are then very reluctant to pay,"" he said. He was referring to the practice of some NORP importers of refusing to pay for commodities if the price falls between order and delivery.  
Fernandez did not elaborate on the details of cooperation GPE was hoping for with GPE. ""We are at the beginning (of discussions),"" he said.
He was in GPE after a DATE trip to GPE where he met with senior NORP officials, including Minister for Foreign Affairs PERSON and Minister for Foreign Trade and Economic Cooperation Wu Yi.
The purpose of his visit was to lay the groundwork for a visit to GPE on DATE and CARDINAL by NORP Premier PERSON, he said.
Fernandez said he asked NORP officials to consider recognising GPE as free of LOC fruit fly, as GPE had already done, and free of foot-and-mouth disease.
""The NORP dream is to sell CARDINAL apple, CARDINAL bunch of grapes and CARDINAL bottle of wine DATE to every NORP person,"" he said.",1
"The president of ORG automotive operations denied DATE that the company is mulling plant closures in LOC, but added that ORG is pressing employees to chop MONEY from its DATE spending plans.
PERSON, president of ORG, told reporters the nation's ORDINAL-largest automaker is always studying alternatives for its manufacturing facilities.
""But we have no plans and we've made no decisions on plant closings,"" he said.
ORG reported DATE that ORG was considering closing its GPE, GPE, car plant and consolidating its ORG production into a single plant, at GPE, GPE
Nasser said ORG has no plans to reduce capacity for its ORG sport utility vehicle. He noted that the ORG had strong sales over DATE despite increased competition.
Asked about the newspaper report, PERSON said: ""I view that whole story as surprising and lacking substance.""
An industry source, however, said ORG has considered closing the ORG plant to boost profits in its core NORP automotive business.
ORG might build a new, smaller sport utility vehicle previously earmarked for ORG at a GPE plant that also builds PRODUCT, the source said.
Nasser spoke to reporters at a ceremony at ORG's GPE, GPE, truck plant where ORG announced it has become the ORDINAL major automaker to achieve the industry's top quality certification on a global basis.
PERSON, who has a reputation as an aggressive cost-cutter, has wasted no time shaking things up at the automaker's core vehicle unit since he was promoted to his current post DATE.
He said DATE that units throughout ORG have ""internal stretch"" targets for DATE that combined amount to MONEY. He said the targets are cost-cutting and other initiatives that would push savings beyond the regular goals for DATE.
""These are internal targets -- they're stretch targets. They're meant to provide improved customer value and shareholder value. They're what we're about,"" he said.
PERSON, who previously headed ORG's product development operations, said in DATE that it plans to cut MONEY out of its new product spending DATE.
Wide-spread cost-cutting efforts are also in full swing in LOC, ORG said DATE. ORG's NORP operations, which lost MONEY in DATE, are looking in all areas for excess costs, but PERSON said he is not aware of any hiring freezes.
""LOC is a very sophisticated market, "" he said. ""We're in the midst of some very heavy launches there and extremely tough market conditions.""","The GPE auto industry celebrated its ORDINAL birthday in DATE with higher sales and a new labour accord, but it can expect tough competition from foreign shores in DATE.
Clouds loom on the horizon, namely from GPE's old nemesis -- GPE.
The relatively weak NORP yen promises to give cost-conscious Big Three executives headaches. A weaker yen makes it cheaper for NORP firms to produce vehicles in GPE and sell them in GPE.
Since DATE, when the yen hit a high of CARDINAL to the dollar, the NORP currency has weakened. The rate is now CARDINAL, meaning it takes more yen to buy MONEY.
PERSON, ORG top economist, believes the yen will continue in the CARDINAL-115 range for DATE, then strengthen to CARDINAL.
""I think it will be a substantial issue in DATE,"" ORG said. ""The yen having weakened from CARDINAL to CARDINAL has given them tremendous profit potential in LOC.""
A look back through DATE shows that NORP automakers have already turned the weaker yen to their advantage through lower prices.
Industry trade publication ORG reported DATE price increase at GPE's Big Three was $MONEY, while the average price hike for NORP automakers was MONEY.
""It's going to be tough DATE because we have the weaker yen,"" ORG Chairman PERSON said recently.
Forecasts for DATE project total vehicle sales will be roughly the same as the CARDINAL expected for DATE. But that's not all that bad, industry executives say.
It means the DATE upswing of car, sport utilty and pickup truck sales could continue for yet another year.
""We see moderate inflation. We see a steady continuation of economic expansion in GPE,"" PERSON said. ""We're looking for the car and truck industry to fall somewhere in the CARDINAL range for DATE, which we would describe as a pretty good year.""
NORP automakers, which have introduced hot new car and sport utility vehicles DATE, are set to unleash more new products in DATE.
ORG will soon introduce its ORG compact sport utility and is scheduled to bring out new versions of its PRODUCT sedan and PERSON minivan. Building on the momentum of its new PRODUCT sedan, ORG will unveil a front-wheel drive minivan called the PERSON DATE.
Among the Big DATE proved to be DATE that ORG's raft of stylised new products took off, outshining its CARDINAL domestic rivals. The No. CARDINAL automaker has boosted GPE market share CARDINAL points to PERCENT, and its calendar DATE sales will post their best results since DATE.
ORG will try to reverse a slide in both sales and market share DATE as it continues with the introduction of CARDINAL new cars and light trucks, including a new line of minivans.
ORG will also look to improve its overall competitiveness with a new DATE contract with ORG that could allow it to shed CARDINAL workers. But that deal did not come cheaply. ORG endured several strikes through DATE that will cost it MONEY.
At ORG, cost-cutting will remain a top priority DATE. The No. CARDINAL automaker has scored big in the market place with its new PRODUCT pickup trucks and ORG full-size sport utility vehicle.
But its car sales have lagged, and ORG has been forced to slap incentives on its redesigned PRODUCT to push them out of dealer showrooms. ORG, which replaced the head of its core automotive operations in DATE, will also lose CARDINAL from NORP and NORP operations in DATE, but sees improvements in those areas for DATE.",1
"Misys, GPE's fast-growing, QUANTITY (MONEY) software supplier, posted record DATE results on DATE and said it was eyeing up to CARDINAL international acquisition targets worth MONEY each.
Chairman PERSON told ORG that ORG, which has snapped up software trading firms in LOC, GPE, the GPE and LOC, was keen on businesses that operated within a strong international financial services market.
""They (possible acquisition targets) are worth mainly MONEY...,"" ORG said.
Misys, whose banking division alone now supplies software to CARDINAL banks with CARDINAL separate installations, has become one of the world's largest application software companies as consolidation in the industry gathers pace.
And with MONEY of cash and undisclosed, but low debt levels, ORG said the company had plently of headroom in its cash flow and borrowing facilities to enable it to embark again on the acquisition trail.
DATE, ORG announced the planned MONEY acquistion of ORG, a GPE computer company specialising in financial derivatives trading software.
Supplying software to banks and insurers has brought rich rewards to LOC. The group raised pretax profits in DATE by PERCENT to MONEY on revenues of MONEY -- PERCENT higher than in DATE.
Lomax said he saw the possibility of ""creating quite a bit of shareholder value"" by buying regional software companies, particularly in the banking industry.
The group has bought software businesses in risk management, private banking, corporate electronic banking, derivatives trading, capital markets trading --- areas where banks and securities firms want to expand and control their activities.
In DATE, ORG's shares have more than doubled to MONEY from MONEY as the group systematically targets international financial institutions that need new software at lower costs but with a greater security of transactions.
Lomax insists that he is unworried by the share price, which at CARDINAL times prospective earnings, no longer looks cheap. Competitors' price/earnings ratios are comparable, he says.
But the stock has slipped recently, and was trading MONEY weaker at DATE by DATE ORG -- despite the strong results.
In terms of international banking, ORG is CARDINAL to CARDINAL times bigger than its competitors. Large rivals such as ORG and GPE's ORG impinge only on parts of its market, ORG noted.
""Nobody of any serious calibre or size competes across the board with us.""
The group lifted its DATE dividend PERCENT to CARDINAL.
($MONEY Pound)","ORG (BT) might give some ground to GPE rival AT & T Corp in a quest to win regulatory approval for its MONEY merger with GPE carrier ORG, a source familiar with negotiations said on DATE.
The proposed merger, the biggest transatlantic deal in history, is being examined by NORP, NORP and NORP regulators. Regulatory clearance from GPE hinges on whether the NORP telecom market is deemed to be as open as GPE's.
AT&T, the world's ORDINAL biggest telecoms group after GPE's ORG and ORG, has charged that it does not have the same competitive advantages in GPE as ORG will have in the GPE after its ORG take-over.
The source said ORG might look at some of the prices it charges ORG, which has been active in GPE for DATE. The NORP giant wants BT to lower its transit' costs -- charged for transporting calls from the coast to ORG's network in cities.
The company also wants what is dubbed ""equal access"" to the NORP market. This would mean that customers would not have to call special numbers or press other buttons on their telephones before being connected with their chosen telecoms operator.
AT&T complains that customers often forget to dial an access code to get onto its service before making calls, which means that BT gets paid for the call.
While the source said ORG was unlikely to give ground on equal access, because it was not cost-effective, he said ORG might consider its transit charges. ""It is something that ORG may look at,"" the source said, adding: ""I think interconnect costs are always looked at in the GPE.""
ORG is GPE's ORDINAL biggest international carrier and ORG, keen to gain a greater access to the world's biggest telecoms market, wants to buy PERCENT of ORG it does not already own.
ORG sources say that ORG is expected to launch a full investigation into the alliance DATE.
The proposed merger, announced DATE, was submitted to the Commission for clearance DATE, and it has until DATE to decide whether to clear it following a preliminary investigation -- or launch a deeper probe.
An in-depth probe into whether the deal could violate NORP fair competition rules could last DATE.
But ORG's ORG affairs official PERSON told ORG in GPE: ""We're not picking up any negative vibes about the merger...but there may be some nervousness because it is just so big.""
BT, which along with ORG is holding briefing on DATE to discuss NORP and NORP regulation, expects the deal to be cleared around autumn.",1
"GPE's effort to push domestic investors out of foreign currency B shares on its stock markets has so far failed, but volumes on the B markets have fallen significantly, analysts said on DATE.
The official media on DATE announced that local investors were banned from buying any more of the B shares listed on the GPE and GPE stock exchanges and supposedly reserved for foreign investors.
Domestic investors, who in DATE have accounted for PERCENT of B share trading on both of GPE's stock exchanges, were told to sell their B share holdings as soon as possible.
But traders and analysts said local investors were still in the market and continued to be an important support for B share prices, which are dragging along at low levels.
""The ban on local people buying B shares has not been implemented very seriously, people can still buy them,"" said CARDINAL trader. ""But volumes have come down because of a fear that the authorities might make further measures to clean things up.""
""Trading by domestic investors in B shares is still continuing,"" said a broker with ORG. ""Brokers find it difficult to check all identification cards when old faces turn up.""
B share trading volumes on both the GPE and GPE exchanges have dropped significantly since the ban was announced, and many analysts believe the market could collapse altogether if the authorities seriously press home the ban.
Foreign investors took advantage of a surge in domestic B share buying in DATE to dump their shares and get out of the market, particularly in GPE.
GPE authorities are unhappy about this largely due to a fear of a serious outflow of foreign exchange if foreign investors are allowed to sell their B shares to local people, analysts say.
A GPE stock analyst said he felt the ban on domestic investors buying and holding B shares would not be pushed through with any greater vigour and would anyway be relaxed after the return of GPE to GPE in DATE.
""I would forecast that by DATE, the B share market in GPE will be gradually opened up to domestic investors,"" the analyst with ORG said.
""By that time, GPE will be back as part of GPE, and the GPE dollar will be a NORP currency,"" he added.
B shares listed in the southern city of GPE adjacent to GPE are denominated in GPE dollars.
A trader with ORG said he expected further big changes to policy on the B shares markets over DATE leading to a ORDINAL, and this time officially-approved, relaxation of restrictions on domestic investment in B shares.
""The B share market will undergo significant changes by DATE. By then, it will be easier and easier for GPE people to get hold of GPE dollars,"" the analyst said.
""By DATE, GPE B shares should at least be open to investors in GPE,"" he added.
The GPE B share index closed on DATE at CARDINAL, up a fractional CARDINAL, in sluggish trading, while the GPE B share index closed at CARDINAL, down CARDINAL, also in slow trade.","Drugstore giant ORG said DATE it agreed to buy regional chain ORG in a sweetened takeover valued at MONEY.
The transaction calls for GPE, GPE-based ORG to buy all outstanding shares of Big B common stock for $MONEY per share, up from ORG's unsolicited offer of $MONEY per share, which Big B rejected DATE.
""We are very excited about the combination of ORG and PERSON I am pleased we were able to bring this process to a fast and successful conclusion,"" said PERSON, president and chief executive officer of ORG.
The deal will combine the nation's second- and ORDINAL-largest drug store chains.
The companies said ORG board of directors unanimously approved the latest offer and recommended that Big B shareholders tender their shares.
The sale of GPE, Ala.-based Big B marks the latest acquisition in the rapidly consolidating drugstore industry. ORG signed an agreement DATE to buy LOC chain ORG for MONEY, and ORG, a unit of ORG, agreed in DATE to buy ORG for MONEY.
Although Big B rejected the initial offer, its stock recently had been trading at MONEY per share on views that the company would be sold for more than ORG's original $MONEY per share offer.
ORG's stock traded up MONEY at $MONEY a share on ORG. Big B's shares were at $MONEY, up MONEY, in TIME trading on ORG.
""With ORG's financial resources, technological expertise and marketing and sales capability, we can together grow our combined company's customer base and increase our sales potential. Among other efficiencies, this combination will allow the combined company to spread costs over a larger base of stores,"" PERSON said.
Big B said it will work with ORG to ensure a smooth transition.
Like many other regional drugstore chains, Big B has been fighting problems that have accompanied the burgeoning clout of managed health care companies and huge discount retailers. It has been hurt by deteriorating profit margins and sales and its earnings have disappointed Wall Street.
Industry experts say ORG is well-placed to capture profits in the Southeast by taking advantage of ORG underused distribution centre and closing overlapping stores in GPE.
""ORG will be able to integrate Big B really quickly,"" said PERSON of Midwest ResearchORG.
Big B's profit margins began to tumble DATE due to difficulty in calculating the impact of lower prescription prices paid by managed care providers. Although it invested heaviliy in a new computer system to better track profit margins, people familiar with the company have said its newly expanded distribution centre is operating at PERCENT of capacity.
Analysts said CARDINAL of ORG's ORDINAL steps will be to assess store overlap, especially in GPE, where ORG operates CARDINAL stores and Big B has CARDINAL stores.
""Once they get the distribution and the stores together, it will be a real profit centre for ORG,"" said PERSON, of investment advisory firm ORG.
ORG also said it will revise and extend its tender offer for Big B shares until Nov 15. The offer had been set to expire DATE.
The CARDINAL companies also said all litigation between them will be withdrawn.
After some haggling about terms, ORG DATE signed a confidentiality agreement with Big B, took a peek at its books and apparently liked what it saw.
The Big B board met over DATE and accepted the new and higher offer from ORG. Details of other offers were not immediately known, although ORG was viewed as a potential bidder.
Eckerd declined to comment.
Big B, Inc. operates CARDINAL units throughout ORG.
ORG operates CARDINAL stores in CARDINAL contiguous NORP, ORG and ORG states.
The deal with Big B was seen as a significant acquisition for ORG, which DATE was involved in a failed transaction with PERSON. The CARDINAL companies had signed a pact for Rite Aid to buy ORG for MONEY, but the deal collapsed after regulators expressed concern that the union would raise consumer prices.",0
"ORG on DATE launched its bid to become the main rival to state-owned ORG with the start a fixed telephone network in DATE in the southern city of GPE.
PERSON, managing director of ORG's telecoms unit ORG, said the group aims to have a market share in DATE yielding MONEY (MONEY) in DATE sales, of which CARDINAL would come from mobile communications.
In mobile telecommunications, ORG already competes with ORG with its SFR unit and it is allied to ORG and ORG for business services.
The local residential market is expected to grow at a moderate pace but nevertheless represent MONEY in DATE.
ORG said he aimed at gaining a PERCENT share in mobiles, PERCENT in long-distance and PERCENT for so-called local loops, or small networks.
Cegetel, which counts ORG, ORG and SBC of GPE among its owners, has received permission from the NORP authorities for a telecoms experiment in GPE and from DATE it will offer residential telecoms services, using the ORG technology.
DECT, digitally-enhanced cordless telephone, uses radio waves to connect buildings to a telephone switch, while the connections inside the building are of the classical type using a telephone socket.
DECT is also available in totally wireless versions but the GPE experiment will not use this. DECT can handle high capacities and is relatively secure as far as privacy of calls is concerned.
ORG said that GPE was the precursor of ORG's assault on ORG and the company would invest MONEY in GPE and somewhere in central GPE to hone its skills ahead of the liberalisation of the market in DATE.
Cegetel is aiming to start its business in CARDINAL towns which will add up to a population of CARDINAL inhabitants.
To part finance this DATE plan, ORG shareholders will inject MONEY into the company at DATE.
In business services, ORG is considering putting a local loop in the ORG office complex on the GPE outskirts -- where parent ORG is the main building developer.
In that area, ORG already offers business services with a local loop in competition to ORG.
ORG said that the success of ORG, or any other rival to ORG in GPE, depended to a large extent on the interconnection costs and other payments telecom operators have to make to ORG to use its installations.
Telecommunications minister PERSON has started a wide consultation, set to end on DATE, in order to establish in DATE a price list of the services France Telecom can provide to its rivals.
""The level of the interconnection costs for us means either the right to live of the right to die,"" ORG said.
Other future rivals for ORG are building and communications group ORG which has teamed up with GPE's STET. ORG started GPE's ORDINAL mobile telecommunications service DATE.
AT&T has also expressed a desire to become a major force in the GPE market. ($ = MONEY)","NORP resources and steel group ORG (ORG) posted a PERCENT fall in DATE profits DATE, disappointing the share market but avoiding another mauling by investors.
BHP, whose shares have been hammered since its key markets in steel and copper turned sour DATE, posted a MONEY (MONEY) net profit for DATE, down from A$MONEY (MONEY) for DATE.
But GPE's largest-quoted company had its bottom line boosted by an abnormal gain of MONEY (MONEY) and investors were initially not impressed.
""It's pretty lousy,"" said CARDINAL fund manager's stock analyst. Another analyst disappointed with the result said the resources giant was still on track for a modest profit recovery for DATE.
Though ORG's battered copper division showed improvement, with the NORP copper operations swinging back into profit, analysts had expected a DATE group operating profits of MONEY (MONEY).
Instead, ORG's operating profits fell PERCENT from DATE period to MONEY (MONEY).
But managing director PERSON said the DATE figures showed faster improvement in performance and that, despite weak copper and steel prices, the group was still investing in future growth.
Citing a sharp jump in exploration expenditure in DATE, he told reporters: ""That's an important part of sustaining our growth.""
Including abnormals, ORG's minerals, copper and steel divisions all contributed higher earnings in DATE against the DATE. The steel division's earnings were flat.
Petroleum was the biggest earner with MONEY (MONEY), but this included an abnormal gain of MONEY (MONEY) from the settlement of a dispute over a gas resource tax.
ORG operating profits also included a MONEY (MONEY) windfall from asset sales and a larger than expected exploration expense.
ORG's minerals division, a major world producer of iron ore and coal, doubled its contribution to profit in DATE to MONEY (MONEY), due largely to higher world prices.
ORG benefitted from a recent firming in the copper price and a cut of MONEY per pound in its NORP operating costs to post a DATE profit of MONEY (MONEY), up from MONEY (MONEY) in DATE.
The GPE copper operations, acquired DATE with the MONEY (MONEY) purchase of ORG, made a loss on a full-cost basis in DATE. ORG said DATE PERSON had swung back into profit in DATE.
ORG DATE profit was flat at MONEY (MONEY).",0
"GPE top diplomat on LOC drew flak from leaders of GPE pro-democracy camp on DATE as he met key officials and politicians on the colony's DATE return to GPE.
The GPE Assistant Secretary of ORG PERSON had separate meetings with local political parties and with GPE's top official in the NORP colony, PERSON.
Lord was also set to meet colonial Governor PERSON and his deputy, PERSON, as well as the man tipped as GPE ORDINAL post-colonial leader, shipping magnate PERSON.
Pro-democracy parties criticised Lord for planning to see only one of the CARDINAL candidates in the GPE-controlled contest to select a post-colonial successor to Patten -- tycoon Tung.
""He has adopted the conventional wisdom that GPE will be chief executive and that the other CARDINAL have no chance,"" said legislator Emily PERSON of the pro-democracy group, ORG.
PERSON said she was not invited to meet Lord. The democracy camp has accused GPE of preordaining PERSON as winner of the contest, which will culminate on DATE, and some critics say Lord's meeting with him is helping to pick the victor.
""What's the point in seeing the others when there's only one who will become the chief executive-designate of GPE,"" CARDINAL GPE diplomat admitted to a reporter on DATE.
PERSON said GPE politicians no longer followed up remarks supporting human rights and democracy with action, and that they were now interested only in making money out of GPE.
""If they cared about human rights and democracy they should have cancelled Secretary of ORG PERSON recent visit to GPE, to send GPE a strong signal,"" PERSON said.
But PERSON went there -- just DATE after GPE had jailed leading dissident PERSON, she said. The GPE has said it hopes to see GPE keep its freedoms after DATE, but has stopped short of condemning NORP plans to crimp democracy.
Legislator PERSON, vice-chairman of ORG, GPE largest, said his party had told Lord of its worries about the future of press freedom, the elected legislature and the undemocratic nature of the DATE leadership contest.
His party had told Lord that a NORP plan to dissolve the elected ORG DATE and install a new provisional legislature was illegal, PERSON told reporters.
""It's a step back as far as democracy is concerned,"" PERSON said, branding the provisional legislature move a breach of the NORP treaty covering the sovereignty transfer.
Lord said GPE would continue to take a keen interest in GPE after the change of flag at DATE.
""I'm here essentially for CARDINAL reasons. CARDINAL, to underline GPE strong interest in a smooth reversion of GPE to NORP rule, and secondly I'm here to listen, and I'm listening to a wide spectrum of views,"" Lord told reporters.
Lord was to hold a news conference on DATE.
On DATE, he heard not only the views of the NORP but also politicians who oppose some of GPE's latest moves.
Before meeting Lord, the chairman of ORG, PERSON, said he would stress his opposition to the colonial government's decision DATE to put forward a liberal new anti-subversion law without GPE's agreement.
""Mr Patten, knowing that the chief executive will be selected DATE, gazetted DATE a bill, without the agreement not only from the chief executive-designate, but also from the NORP government,"" PERSON said.
""I think this is totally irresponsible. He is playing politics, and he doesn't deserve to be the governor of GPE,"" he said.","NORP food group ORG is expected to report a slightly higher annual net profit before abnormals early on DATE, as firmer margins in some areas are seen largely offset by higher grain costs.
""I'll be looking for some margin growth, but also there's been some strong raw materials cost increases,"" CARDINAL ORG analyst said, adding he was forecasting a pre-abnormals net profit of MONEY.  
The median forecast in BZW GPE's ORG survey of analysts was for a MONEY pre-abnormals net profit for DATE.
Forecasts ranged from MONEY to MONEY, compared with the MONEY profit posted in CARDINAL.
""There'll be a big impact from the grain prices in DATE and going into DATE of this (DATE),"" another ORG analyst said, estimating extra grain costs of MONEY.  
But analysts expected the cost of grain, a major input in ORG's breadmaking and chicken operations, would ease back later in calendar DATE.
The higher grain costs were likely to have been offset somewhat in DATE of CARDINAL by lower packaging and palm oil costs, some analysts said.
Profit expectations are in a tight band in part because of ORG's own comments about the result in DATE.
ORG chief executive PERSON said then that the pre-abnormal profit would be MONEY.  
""We're saying that there will be a small increase in pre-abnormal profit in the PERCENT range from DATE and since we made MONEY DATE, CARDINAL to CARDINAL means somewhere MONEY,"" PERSON said.
ORG then also announced it would post abnormal losses of MONEY in CARDINAL, including a revaluation of its loss-making poultry operations.
This would produce a net profit after abnormals of MONEY, ORG said then.  
Analysts said however most of the interest would be centred on ORG's strategic plans for recovery from its profit slump of DATE.
Goodman Fielder shares closed down MONEY at A$MONEY on DATE.
-- ORG CARDINAL-2 373-1800",0
"ORG is ducking the trench warfare in the consumer long distance telephone market by quietly using data warehousing  to target key customers who are unlikely to flee to the enemy.
ORG Chief Financial Officer PERSON said these customers are looking for advanced services, preferably in a package, but have hitherto been hard to pinpoint.
""It has taken MONEY and DATE to develop profiles of customers who can be targeted in our marketing,"" GPE told ORG in an interview.  
Data warehousing requires powerful computers to assemble profiles of users from CARDINAL of individual spending decisions and was a technique ORDINAL applied by retailers.
""I always tell investors it is a hidden asset you cannot put a value on,"" ORG said.
Sales people use these profiles to sell new services to existing customers, or target those of rivals who are likely to move across for the right services -- and stay.
""We've done this for some time in the business sales force,"" GPE said.  
The main enemy is churn, the tendency for some customers to switch between providers, which wastes all the marketing, promotional and administrative money spent recruiting them.
DATE results on DATE from ORG showed the benefits in the business and data markets that account for CARDINAL of ORG's total revenues, but it is DATE to see much improvement in the consumer market.
ORG said churn was higher than DATE in the consumer market, but lower than in DATE.  
While ORG slugs it out with tiny but tenacious resellers in a costly battle for customers using MONEY in promotional ammunition, ORG has cut its promotional spending for customer sign-ons by PERCENT from DATE.
GPE said ORG, a service package on CARDINAL bill, has no sign-on bonus but CARDINAL of new users take the Internet service. ORG users are CARDINAL times as likely to take cellular and calling cards than when services are billed separately.  
It is not just a land war. ORG has cross promotions with ORG, ORG and ORG, seeing overlaps between frequent fliers and heavy users of calling cards and wireless services.
Offering free air miles is much cheaper than offering cash, but just as alluring to certain markets.
""Our line-up gives us access to PERCENT of frequent fliers,"" said GPE.
GPE said that ORG and ORG have been mining their databanks too, and the whole industry will have a headstart against the regional ORG, which are much newer to the game, when markets are all open to competition.
Despite all its data warehousing, ORG still makes errors.
ORG said it is in the process of revamping its paging services, which resell the networks of ORG and ORG after it discovered heavy churn.
Paging customers in DATE fell to CARDINAL from CARDINAL DATE, and are expected to be lower in DATE too before a recovery seen for DATE. -- GPE  CARDINAL 859 1712","Hordes of aggressive telephone resellers banging at the gates of ORG, ORG and ORG have already grabbed MONEY of the MONEY long distance market.
But DATE's merger between ORG and ORG allows tiny resellers to swarm into a rich citadel industry giants see as their own.
""Its international services, data, Internet and intranet as well as local service resale,"" said analyst PERSON of brokers ORG.  
ORG is a provider of local calling networks to businesses, while ORG is a long distance and international carrier.
ORG will be a ferocious competitor itself, able to offer end-to-end business services, but as a carrier's carrier it will allow in many resellers to new markets, by offering ""own brand"" telecommunication services off the shelf.
Fast growing resellers like ORG, CARDINAL of over CARDINAL such firms in the industry, have helped to eat away at the long distance telephone market and set the standard for cheap service, analysts say.  
For long distance companies, and regional Bells trying to defend their home turf, it will mean more competition, more pressure on margins and harder work to keep customers.
Profit margins and growth rates in high speed data, dedicated access Internet, international calling and broadband applications like videoconferencing are way beyond that seen in long distance, which is becoming a commodity market.
Resellers would threaten future sources of growth for the biggest firms in the industry.  
""You now have CARDINAL company, ORG, which crystallizes the brave new world (of competition),"" said PERSON of brokers PERSON.
He said resellers could always have pieced together such services, but this merger will make it easier.
Resellers focused on consumer services will not even be competing with ORG own branded product, which is pitched at small businesses.
ORG, which ORG bought for MONEY DATE, will be particularly empowered as a carrier of the internet services of others.  
As part of ORG it will be able to call on CARDINAL sales people across the country instead of CARDINAL.
""We think it is a very positive move for the reseller market place,"" ORG ORG chief executive designate PERSON said during DATE's merger news conference, mentioning PRODUCT and ORG as possible buyers of services.
ORG and some regional ORG are already buying long distance services from ORG for their entry into that market. Using ORG's networks, they could now extend local services into cities in other parts of the country.  
This new competition is one of the aims of the 1996 Telecommunications Act, but the irony is this merger -- of an outsider in long distance and an outsider in local telephone -- could have happened even without deregulation.
""Both companies were unencumbered by national regulation,"" said Edmonds though he noted that to reach the greatest market opportunity they still need access to some elements of the ORG's local networks, a process eased by the telecom act.
""ORG or ORG will say 'we can do this too',"" said ORG.
However, they are some way behind in their reach.
ORG TIME detailed its local phone service plans, but its ORG network will only reach CARDINAL cities by DATE, while ORG already has CARDINAL cities up and running.
However, analysts reckon it will be some time before ORG can become a threat in the really high margin areas of dealing with the national or global communication accounts of large companies.
-- ORG 212 859 1712",1
"Some NORP traders are moving to take advantage of a sharp rally in world copper prices by selling the red metal back to the market, LOC metal industry sources said on DATE.
A rise in copper stocks held in ORG (ORG) warehouses in GPE was attributed in part by some trading sources to NORP selling.
""With such high ORG prices, I believe some (copper) will be brought out of GPE,"" a GPE trader said.  
He said stocks in GPE rose QUANTITY DATE -- after hovering at extremely low levels for DATE -- as NORP buyers sold material recently taken from ORG warehouses elsewhere.
NORP traders have said GPE is adding substantial tonnages -- QUANTITY -- to its central stockpile, with a ORDINAL of that amount now passing through customs in GPE.
These reports have helped fuel a rally in DATE ORG copper, which has climbed PERCENT in DATE on tight physical supply.  
DATE ORG metal hit a DATE high of $MONEY a tonne on DATE, up from $MONEY at DATE.
Whether or not the copper now in GPE has completed customs formalities is not an issue, sources said.
""This is the government, they do what they like,"" said CARDINAL.
There was a feeling, however, that NORP government departments, mired in bureaucratic red tape, would be unable to move fast enough to take advantage of rapid market movements.
This would be the province of minor trading companies using hot money to buy small lots for speculative purposes.  
CARDINAL NORP trader reported small parcel offerings from NORP companies wanting to pick up MONEY a tonne in profit.
Prices are at their highest since DATE when GPE's ORG announced that CARDINAL of its copper traders had wracked up losses in unauthorised deals now said by the company to be MONEY.
Reports from LOC DATE of a hidden hoard of QUANTITY of copper in GPE were shot down by NORP traders.  
Tight global supply is now driving prices, with ORG copper stocks below QUANTITY for the ORDINAL time since DATE and representing DATE demand.
Traders in LOC, polled in DATE, told ORG this fundamental shift in the world supply/demand picture should keep prices buoyed at least in the short term.
""It's a volatile market and it is impossible to know what is going to happen,"" a NORP source said.
""Is it going to stay MONEYlb DATE? Absolutely, I have no doubt about that. It won't be for DATE, I'm talking for maybe a quarter and I think it will then stay there.  
""Why? Consumption. Don't forget consumption. It is much more important than people think. The fundamentals really call for a higher price,"" he said.
GPE and surrounding areas alone use upwards of QUANTITY of copper a month, a NORP source in GPE said.
But physical copper on ORG has also been tight as traders there liquidate their positions on the rising ORG prices.
""Prices have gone up so fast it is a little bit hard to digest,"" a trader in GPE said.
""It could be beneficial to export,"" she said.  
""On the other hand, anyone who wanted to buy could be afraid the price will start to go the other way. It's close to DATE, book-squaring time, so everyone will want to sit back and wait.""
(MONEY)
-- GPE newsroom (CARDINAL) 2843-6470","International copper prices are likely to stick to the high road for some time yet, pricing the metal out of the key GPE market, LOC metal traders said on DATE.
""The ORG (ORG) will move higher and will test US$MONEY (a tonne),"" a base metal trader in GPE said.
""We want it to go down. $1,800 to $MONEY is workable.""
Copper prices on the ORG rallied through the psychological barrier of US$MONEY a tonne on DATE, hitting $MONEY in TIME trading.
This rally pushed the international price above the domestic NORP price, rendering imports senseless, traders said.
On ORG, the most active DATE contract opened at MONEY ($MONEY) a tonne, consolidating around that level within DATE.
GPE levies a PERCENT import duty and a PERCENT value-added tax (VAT) on copper imports, killing margins at current prices, traders said.
Soggy NORP business would be further dampened, traders said. CARDINAL source at a NORP listed company said he had QUANTITY of the red metal to sell at a premium of $MONEY over the ORG spot price.
The premium on copper, PERSON (cost, insurance and freight) to GPE and NORP ports, was $MONEY DATE, traders said.
""We will not have any import business (with GPE) with such high ORG prices,"" another trader in GPE said. ""We are getting calls from NORP offering copper back to the market.""
""Premiums are not the issue, the total price is the concern -- and even with no premium it is difficult,"" he said.
Among the bears, the head of a trading house in GPE bullishly noted signs the central government was attempting to stimulate the property market could see copper and aluminium users stocking up.
Cancellation of interest rate subsidies, interest rate reductions and the removal of private car purchase quotas were aimed at stimulating the sluggish economy, he said.
""I think the whole picture will change,"" he said.
""We have been waiting for a very long time and we have known they (NORP authorities) are moving in this direction. It will restart cash flow and that will re-stimulate the economy very, very quickly,"" he said.
He and other traders said NORP consumers' stocks, usually kept at DATE supply or QUANTITY, have been run down.
""Consumers have nothing and if they have to accumulate investory in their warehouses because of the change of sentiment, the damage to the market will disappear,"" he said.
Other sources said ORG had QUANTITY of copper in stock.
ORG from ORG warehouse stocks over DATE indicated demand in LOC was picking up, traders said.
""If it continues, we will not have enough material, especially as there is no scrap around at the moment and ORG stocks are down (to QUANTITY),"" said the trading house boss.
""The situation could become critical by DATE,"" he said.",1
"For many computer owners, DATE will be DATE when Internet users will begin to see more features aimed at making the Net more lifelike. But it is also likely to be marked by frequent communications breakdowns caused, in part, by increased demand.
""I wrote DATE about a collapse, but it's really collapses, getting more frequent, deeper and longer,"" said PERSON, inventor of PERSON computer networking technology and founder of ORG who is now vice president of technology at ORG.
Metcalfe said the congestion that causes many people to call the World Wide Web the ""WORK_OF_ART"" is CARDINAL of many problems that can prompt it to crash. Major outages have been caused by such seemingly minor events as a rodent chewing a power cable or an ampersand typed in the wrong place in software on central Internet devices.
DATE, CARDINAL customers of ORG, the world's largest online computer service, were without service for TIME because of a software problem. In DATE, a failure at Internet service provider ORG ORG Internet facility cut off access for CARDINAL top high tech firms for DATE.
Experts such as ORG predict similar types of outages DATE as telecommunications companies and Internet providers struggle to keep up with demand. Still, Web surfers are likely to see many new features in DATE, from advanced graphics to slick ways to communicate with each other using animated characters in virtual chat rooms and high-tech games.
CARDINAL of companies, including GPE-based ORG, which recently opened an operation in GPE, have been developing new virtual worlds based on a technology called ORG (VRML).
The technology, pronounced ""ver-mul,"" enables creators of multi-player computer games, for example, to design lifelike characters and CARDINAL-dimensional settings that will exploit new CARDINAL-D computer chip designs and speeded-up microprocessors with added multimedia features due DATE. New capabilities include interactive CARDINAL-dimensional fly-over cities created by the startup Bigbook, which allows users to swoop down on a building and click on it with a mouse to see who is inside.
But as the Net becomes more lifelike, the prospects for a showdown between regulators and free-speech advocates over the issue of online pornography is likely to increase. In DATE, the ORG said it was investigating an electronic mail message sent to CARDINAL of Internet users offering child pornography for sale.
The question of whether to regulate the content of the Internet, both within a country's borders and internationally, comes as officials in GPE are pressing for reductions in sexual and violent content in film and television. CARDINAL solution offered by some software firms is a device like television's V-chip, which allows parents to restrict access to certain programmes.
DATE will also see new electronic communities in which people can participate as consumer, customer, contributor or even investor in enterprises over the Web.
Although DATE will not be the year people rush out to do all their shopping on line, it will be a critical year for deploying the technologies that will make electronic commerce widely available in DATE and DATE, according to analysts.
PERSON, Internet analyst at ORG, expects companies to continue using Internet technology both in internal networks, known as Intranets, and to create what are known as LOC, to reach customers and suppliers.
""The big thing for DATE is going to be the way users think of the Web goes from a pull paradigm to a push paradigm,"" he said, referring to the goal of being able to send data to individuals rather than waiting for them to seek it.
In GPE, CARDINAL of the country's CARDINAL households have a personal computer and PERCENT of GPE households are estimated to have the modem devices necessary to link them to the Internet.
Faster, QUANTITY modems are due DATE, but analysts expect a battle over standards will slow their spread.","ORG Chairman PERSON on DATE swept aside doubts about the future of the personal computer, saying this type of computer system was going to be in the forefront for DATE to come.
The ORG co-founder used his keynote address at the DATE ORG industry trade show in GPE to illustrate how the PC had survived criticisms over its shortcomings and will continue to be used in a wide range of devices, from home computers to cellular phones.
ORG DATE unveiled the ORDINAL line of handheld PC devices running on its new PRODUCT operating system. ORG said ORG is working on advances that in DATE should give its new high-end EVENT programme the same sort of scalability -- the ability to add vast numbers of computing configurations -- as Windows CE.
These technologies, designed for high-end computers, are able to store terabytes, or CARDINAL bytes, of data to eventually process CARDINAL of transactions a day.
Gates said only around CARDINAL companies now store terabytes of data and the CARDINAL-transaction level is more than phone companies, credit card firms or airlines currently process on such systems.
But, with transactions and communications using World Wide Web technology, the tetrabyte level is not far off, he said.
Touting the virtues of the PC, ORG said, ""The strength of the PC is what you take for granted,"" he said. In DATE, for example, ORG and the industry have introduced features that allow PC users to easily plug in new devices and multimedia features such as video and audio.
The personal computer industry has grown dramatically, he said, with CARDINAL PC users worldwide. Although sales volume is approaching CARDINAL units a year, it will be hard to keep unit sales growth worldwide above the PERCENT figure in DATE, ORG said.
""It's hard to grow at PERCENT. There will probably be DATE where you won't see any growth at all,"" he said, adding that, nonetheless, ""people are doing more and more with the PC.""
Gates outlined an array of pending technologies, including CARDINAL-dimensional graphics, and sophisticated methods of transmitting information to computers such as speech recognition and visual clues such as gestures or expressions.
At some point, he said, recipients of intelligent ""junk mail"" may actually be able to transmit their facial expressions upon reading it back to the organisation that sent the mail.
In future operating systems, ORG predicted that ""PERCENT of the code will relate to these new input systems.""
Gates, using videos to illustrate his point, poked fun at LOC adversaries who are increasingly touting a new, low-price network computer, or GPE, as the solution to escalating computing costs.
One of the videos depicted a variety of individuals being interviewed in GPE streets on their thoughts on a series of complex computer terms in a mock survey illustrating how little the public knows about computer technology.
One features PERSON, the chief executive of ORG, who has been thumbing his nose at ORG and touting his PERSON technology and NCs as a means to eliminate ORG's lock on the industry.
Without being aware of what may have been asked, GPE stares into the camera, and says, ""I'm not sure. I'm not a computer scientist. I majored in golf.""
In a briefing following the speech, ORG and other ORG executives repeated that ORG was spending MONEY on research and development in DATE, and has budgeted MONEY in product support and MONEY toward partnerships.
ORG on DATE introduced the new LAW applications, which include word processing and spreadsheets, and said DATE that CARDINAL desktops users have signed up to receive it.
Office CARDINAL software will cost MONEY for the standard edition and $MONEY for the professional product, similar to the prices of ORG's Office 95 versions.",1
"A subsidiary of construction and engineering giant ORG said DATE it will unveil a new Internet gateway DATE as it seeks to break what it says is an oligopoly consisting of the phone companies that manage most of the world's Net hubs.
ORG said the gateway, known as a network access point, and a new service dubbed Hopscotch would relieve the traffic jams now bedeviling the Internet, resulting in faster, more reliable Internet service for consumers and corporations.
The network access point, which will be based in GPE, and NORP, will be formally announced at the Internet World trade show in GPE, GPE-based ORG said.
There are now CARDINAL major network access points, which funnel and route most of the world's Internet traffic. Network access points also allow smaller Internet access providers to gain access to the Net and have recently suffered heavy congestion.
CARDINAL major network access points are in GPE: GPE, GPE; GPE; GPE; GPE; GPE, GPE; and the GPE area.
Until DATE, ORG funded CARDINAL of the biggest GPE access points. But, with the ORG no longer funding the Internet, these gateways are operated by ""WORK_OF_ART"" regional phone companies or long-distance phone companies.
""That's why we believe tomorrow will be a new day for the Internet,"" PERSON, chief technology officer of ORG, said in an interview.
PERSON said that both PERSON and the long-distance providers make money by charging the big Internet service providers MONEY DATE for acess to the Net.
However, he said the phone companies were not making the investments needed to support the growth of the Internet.
Genuity said it will make its new network access point a not-for-profit operation in the hopes that it will gain many customers for its network hosting services. Genuity said it was not charging Internet service providers rent or connection fees at its GPE center.
Genuity said it hoped to build more facilities like the one in GPE.
""We will invest whatever it takes,"" PERSON said. ""We are not making any friends among the telcos (phone companies), but we are making friends among corporations and government users.""
A spokesman for ORG, CARDINAL of the CARDINAL main providers of the core Internet backbone, said ORG always welcomes more companies adding to the Internet. ORG does not manage a network access point.
ORG, which manages a network access point, recently said its local telephone service was suffering due to massive Internet usage in GPE, which was experiencing heavy congestion at its network access point.
PacTel officials were not immediately available to comment on ORG's statement.
""The story that GPE tells is quite exciting and quite responsive to the problems on the Internet,"" said PERSON, founder of computer network power ORG and most recently an outspoken columnist on the subject of Internet congestion. ""The things they are proposing to do for the Internet are badly needed.""
Genuity hopes to sell its network services, including its NORP service -- a Web site hosting service with advanced features -- to businesses. It is aimed at companies selling over the Internet, news services and major corporate Internet sites. Already, Genuity said it has CARDINAL customers, including ORG, the Internet-based news service that focuses on technology.
Genuity said its NORP service was available immediately, starting at $MONEY per month, for customers who want to design and start up large-scale Web sites.
Bechtel, the engineering and construction giant also based in GPE, purchased a majority interest in Genuity in DATE for undisclosed terms.","ORG said DATE it was reorganizing its global sales and services businesses under a single brand, ORG.
ORG's services business has operated under various names outside GPE and the move should help clarify the ORG brand as well as boost efficiency, the company said.
The Armonk, N.Y.-based computer giant also named PERSON, general manager, global marketing operations.
Stanca, who has headed ORG operations in LOC, LOC and LOC since DATE, will continue as chairman of that operation, based in GPE. In his new role, he will head a new direct-marketing effort around the world using the new structure and single brand name.
Previously, ORG's direct marketing efforts have been in various regions without a consistent focus, analysts said. The efforts include direct mail, telemarketing and electronic marketing via the Internet in CARDINAL countries.
Separately, ORG said it and its partners will discontinue development of ORG EVENT software to run on systems using the PowerPC chip ORG developed with ORG and ORG
ORG was working with ORG and ORG to develop a version of Windows NT for the PowerPC chip, but an ORG spokesman said that they will no longer develop the product.
Analysts said PRODUCT-based systems running EVENT were not very successful for ORG.
Succeeding Stanca as general manager of LOC, LOC and LOC is PERSON, who was general manager of ORG, which manages CARDINAL industry-specific business units.
The industry units will now be managed by PERSON, who was general manager, ORG. In his new role, PERSON will be responsible for ORG's industry-specific strategies and performance.
He will be succeeded in LOC by PERSON, who had been general manager of ORG's personal software products including the beleaguered operating system OS/2. No successor was named.
An ORG spokesman said a replacement will be named for ORG.
""Some people are saying, what does this mean for OS/2?"" said the ORG spokesman. ""It means no change whatsoever in strategy. We have not selected anyone yet.""
While the OS/2 software has made inroads with CARDINAL users, according to ORG, it is still a small share of the world personal computer market, dominated by ORG Windows operating system.
ORG stock rose $MONEY to $MONEY on ORG in late trading after falling on profit-taking in recent sessions.",1
"ORG shares crumbled PERCENT on DATE as hope faded on Wall Street for a short-term turnaround in the computer maker's fortunes and further darkened the company's long-term outlook.
Several brokerages urged investors to dump the stock, with Wall Street analysts turning gloomy about the ability of ORG management to put the company's business strategies in order.
Apple fell CARDINAL points to CARDINAL, and was the most actively traded ORG issue with CARDINAL traded.  
The company said DATE it expected an operating loss of MONEY in DATE.
ORG blamed weak GPE demand for its Performa consumer PC line and continued shortages of PRODUCT notebook computers.
The company said these factors contributed to a PERCENT decline in DATE revenues, versus EVENT, when ORG reported MONEY in revenues.
""You can't dismiss this as a CARDINAL-time issue,"" Montgomery analyst PERSON said. ""It really does say something about ORG's long-term position in the consumer market."" King said he maintained his hold rating on the stock.  
Beyond the earnings disappointment, analysts expressed concern over the impending onslaught of rival machines that will be based on new multimedia chip technology from ORG and will run ORG software.
The latest financial disappointment is likely to deepen ORG's image problems among PC buyers, where widespread doubts have lingered about the company's ability to compete with rival PCs that run PRODUCT software.  
In DATE, the distinctions separating ORG's easy-to-use ORG operating system from the more complex ORG PRODUCT system have narrowed. The changes have led many consumers to abandon ORG for lower cost ORG-based machines that offer a greater variety of software programs.
There is also confusion over ORG's future operating system and whether it can introduce a new, distinctive system, based on the ORG system, which it acquired DATE.
ORG's latest earnings disappointment arrived just ahead of the company's DATE in-gathering of ORG loyalists at the ORG trade show in GPE, which begins DATE.  
In a speech slated for DATE, ORG Chairman PERSON was expected to chart the company's future course.
But ORG's PERSON doubted whether Amelio could say anything to reignite enthusiasm for the stock.
Young said the speech simply comes too soon after ORG's acquisition of ORG for Amelio to provide much concrete guidance on the company's future strategy.
""The problem is that he now has to start talking about futures, but he doesn't know enough now to be making this speech,"" he said.
""(Amelio) is not going to be able to say a whole lot about the technical plan, or what they are going to do to bring the new operating system to market,"" PERSON said.
-- Wall Street bureau, CARDINAL-859-1736.","ORG shares slid another CARDINAL points on DATE, continuing a DATE retreat triggered by smaller rival ORG statement that its turnaround plan is on track.
But analysts and money managers were unruffled by what they said was profit-taking in ORG and a temporary shift among some momentum investors to ORG and away from ORG.
ORG stock has lost PERCENT of its value since DATE, when ORG said it was sampling its Pentium-like PERSON chip, which its expect to ship in DATE.  
ORG closed at CARDINAL, down CARDINAL, on volume of CARDINAL shares, marking it as the most active ORG stock. ORG, a key component in the Nasdaq Composite index, has acted as a drag on the market even as the ORG has hit new record highs.
The Nasdaq Composite Index closed at CARDINAL, off CARDINAL.
PERSON, a LOC-based technology money manager who runs the ORG fund, agreed, saying: ""You have a lot of profit-taking and then you have got the momentum players who have had a hell of a run in DATE.
""So now they are looking at the ORDINAL players,"" PERSON said, referring specifically to ORG.  
""ORG has been a catalyst for other people to take profit,"" agreed ORG semiconductor analyst PERSON.
""There is really nothing specifically to explain (ORG's recent decline). It's just another wiggle in the chart.""
Soundview President PERSON agreed ORG's announcement may have provided an excuse for some investors to temporarily shift out of ORG.
""With a stock that has been this incredibly successful, it may be enough to take some profits off the table,"" Townsend said. He was referring to ORG's impressive CARDINAL point rise to new record levels since DATE.  
ORG stock has languished in DATE after repeated failures to match ORG's ORG technology. However, since DATE, the stock has gained PERCENT. It closed at CARDINAL, up CARDINAL point on DATE.
Analysts said ORG's new PERSON chips are not compatible with ORG latest PERSON chips, but the chip could do a healthy business as a simple Pentium alternative.
""There's clearly room enough for both companies to do well,"" said PERSON, an analyst at ORG, who follows both ORG and ORG.  
""Clearly, ORG has had some impact in the minds of some investors,"" PERSON said of ORG's declines in DATE, but added: ""In my mind ORG is not a threat.""
Analysts expect ORG to produce CARDINAL Pentium microprocessors in DATE, while ORG will build only a tiny fraction of that number -- and less powerful processers at that.
Like most chip sector securities analysts, PERSON maintains a strong buy on ORG and a neutral rating on ORG.
PERSON said he also remains neutral on ORG, ""but its back in my good graces"" with its plans to introduce the PERSON chip.
In DATE, ORG analyst PERSON was alone among Wall Street analysts in upgrading ORG to a buy from a hold in response to the PERSON announcement.
-- GPE newsdesk, CARDINAL-859-1736",1
"ORG (CNB) has proposed merging savings bank ORG GPE, with foreign trade bank ORG a.s.(CSOB), and then privatising the new megabank which would be the largest in ORG.
CNB spokesman PERSON told ORG that the proposal was part of a wide-ranging plan to privatise major stakes in EVENT"" NORP banks, which had been submitted to the cabinet to prepare the banks for stiffer foreign competition.
""Continuing with the privatisation of these banks has the aim of increasing the competitiveness of banks, to fit them more towards (entry into) ORG and to increase their performance,"" PERSON said.
The CNB however proposed holding off on privatisation of the new combined GPE and ORG for DATE until the effects of the merger were analysed.
Analysts said the new bank, based on DATE results, would have combined assets of MONEY crowns (MONEY), making it by far the largest bank in LOC and over twice the size of the next largest bank, PERSON.
It is not clear when the cabinet will debate the CNB proposals, but a senior central bank official said it might be on the agenda of DATE government meeting.
PERSON, equities analyst at ORG, said the merger would bring economies of scale from necessary cuts in GPE's and ORG's bloated workforces.
""There's got to be a lot of overlap. In many of these departments you would see big staffing cuts,"" he said.
The CNB plan calls ORDINAL for quick privatisation of the state's PERCENT in GPE ORG (ORG), a suggestion endorsed by ORG DATE.
ORG and ORG are widely seen as potential partners for ORG, although top officials have declined comment on their possible interest in IPB.
The CNB plan proposes privatising shares in GPE -- seen as the plum of LOC in which the state holds a PERCENT stake -- only as a final step.
PERSON said the plan was written from the perspective of the CNB as a regulator, aiming to consolidate the strengths in the core of the the NORP banking system.
Whether it has the support of the full cabinet is still unclear. Privatisation of the Big Four has been a delicate political issue despite the country's reputation as the most aggressive NORP reformer.
PERSON said however that there was broad agreement in the CNB and the government on the need to go forward with privatisating remaining state stakes in LOC, which control PERCENT of the country's banking activity.
PERSON, in which the state still holds a PERCENT stake after the government's stock-for-citizens privatisation programme, is the largest state savings bank, where most NORP kept their money during the communist era.
It still holds a majority of NORP retail deposits.
ORG, born as a foreign trade bank in the former communist state system, is owned by a variety of NORP and GPE state institutions including both central banks and ORG, with small stakes privately held.
""I think it will take a lot of time to agree on the merger price (with Slovak institutions),"" Schrantz warned. Slovak state institutions hold PERCENT of ORG shares
The daily PERSON quoted CNB governor PERSON on DATE as saying large banks needed strong foreign partners which could cover share purchase from their own funds.
The market value of state stakes in LOC is MONEY crowns, according to the CNB, while the total value of ORG shares is estimated at CARDINAL crowns.
Such well-funded investors do not exist domestically, and the ORG wants to find them abroad through tenders.
Finance Minister PERSON said DATE that he also wanted the state's stake in IPB to be the ORDINAL to be privatised, and that a strategic foreign partner taking the stake would be the most likely option. ($ = CARDINAL NORP Crowns)","Smiles are coming back to the faces of NORP sugar traders and industry executives, who are smacking their lips at the prospect of a stabilised NORP market and decent profits for sugar mills there.
Prices for sugar in GPE were starting to move to levels not only covering factory costs but providing some profits, trade and industry sources said on DATE.
White sugar prices in GPE and GPE were MONEY (US$MONEY) a tonne, reflecting prices of DATE, trading sources said.
Ex-factory prices in the growing regions, however, were now a good MONEY higher, the sources said.
""The lowest price in DATE was CARDINAL renminbi a tonne in the producing areas,"" a NORP trader in GPE said.
Transport to the major cities added CARDINAL to 200 yuan, plus handling costs, he said. So current prices were indicative of when the sugar was purchased and stored.
Prices in the producing areas, notably GPE and GPE provinces in the south, had moved to CARDINAL a tonne.
""The NORP sugar market is still a very attractive market,"" an industry executive who runs a number of joint venture sugar factories in southern GPE said.
""It is not yet fully mature and there will be an inbalance between supply and demand for a long time,"" he said on condition of anonymity.
He put DATE NORP demand at MONEY.
""The government has stopped imports for DATE, so I see the market getting back to normal,"" he said.
Imports in DATE were QUANTITY. This DATE's harvest, which begins DATE, is expected to be QUANTITY, over DATE CARDINAL.
Signs the market in GPE was beginning to stabilise were evident in the recent rise in wholesale prices for processed white sugar, he and other trade and industry sources said.
The tightness reflected in the rising prices would last until the beginning of the crushing season in DATE.
""The price could go to MONEY per tonne),"" a trader in GPE said.
Stocks of QUANTITY represented DATE consumption at the current peak consumption time, he said.
Even so, traders and industry sources did not see GPE having to import sugar before DATE.
Some rumours that GPE had recently purchased CARDINAL cargoes -- or a maximum of QUANTITY -- of NORP sugar were seen as an attempt to push up faltering NORP raw sugar premiums.
""I find it hard to believe because there are no sugar import licences,"" a GPE trader said.
""The NORP premium was falling below $MONEY (per tonne) DATE and I suspect people are spreading this rumour to push the premium back up,"" he said.
The premium on NORP sugar to GPE had recovered to MONEY for DATE contracts, he said.
Another trader in GPE reported a secret deal in which a monastery in rural GPE was granted sugar import licences, which it then sold to raise money for restoration work.
He said QUANTITY of import quota was involved, and had been used to purchase raw NORP sugar at US$MONEY a tonne.
""The central government gave the quota to the lamasery, then the monks sold the quota to raise money,"" he said.
The only other detail he would provide was that the NORP sugar was not part of the annual QUANTITY barter deal between GPE and GPE, and that it would arrive in GPE before DATE.
-- GPE newsroom (CARDINAL) 2843-6470",0
"ORG proposed successor to PERSON as chairman and chief executive will be a surprise, not one of those whose names have been mentioned in the press, sources close to the company said DATE.
Neither PERSON, president of ORG, nor PERSON, chief executive of ORG, are in contention, despite broad media speculation.
The sources declined to identify the true candidate.
AT&T declined to comment, as did ORG and ORG, the executive search firms involved.
ORG's board met TIME to examine a slate of candidates put forward by the executive search groups for the post of president and chief operating officer, and sources expect an announcement in DATE.
AT&T reports its DATE results DATE.
""The search had (already) been narrowed to a critical few ... and the board, not just PERSON, will make the final decision,"" said CARDINAL source, declining to be identified.
The post is vacant after PERSON resigned in DATE to head a tiny new wireless company, ORG.
CARDINAL possibility is that PERSON would split out the role of chief executive to the new candidate in DATE so but retain his chairmanship until nearer retirement.
Allen, a DATE AT&T career veteran, would be reluctant to depart early, but in a recent interview said he would consider it if a perfect candidate came along.
""ORG wants a world-class marketer and technologist, with considerable experience of leading a major business,"" CARDINAL source said.
It is unclear yet whether ORG will give a clear succession timetable in the announcement for the new post.
Armstrong, PERSON, ORG Chairman PERSON and PERSON, chairman of ORG, have ruled themselves out, but this has not stopped the speculation.
Expectation of an earlier end to PERSON's career has been fanned by ORG's profit warning in DATE in which it said earnings per share for DATE may be PERCENT below analyst expectations.
The warning crowned DATE for the largest GPE telecommunications firm.
AT&T incurred the wrath of politicians and the media for announcing CARDINAL job cuts in DATE, but the improved stock performance it was meant to produce has not appeared, so Wall Street and investors are not happy either.
While the company's split into CARDINAL parts is going ahead as planned, the remainder of ORG is now more firmly wedded to the long-distance telecommunications services sector, in which competition is heating up.
The Dow Jones Industrial Average of blue-chip stocks is up PERCENT so far DATE, but ORG -- adjusted for its split -- is down PERCENT.","ORG said on DATE it had been granted judgements in CARDINAL test cases against members who had failed to pay debts under the insurance market's reconstruction and renewal (R&R) settlement.
The defendants, PERSON and PERSON, had claimed they were not liable to pay their premium to ORG, the company set up to reinsure and run-off DATE liabilities of ORG syndicates.
But the judge, ORG, said that they had failed to establish that any of the grounds argued represented ""arguable defences or, if these actions were permitted to go to trial, would have any realistic prospect of success"".
ORG welcomed the decision and said it would now be pursuing other non-acceptors.
""This judgement enables ORG to pursue all non-acceptors of the settlement who have argued that they are not obliged to pay their ORG premium,"" said PERSON, head of ORG financial recovery department.
""Our pursuit will be vigorous and, by virtue of this judgement, will be effective.""
He said it was in the interests of all members that ORG now proceeded to recover all outstanding debts.
It originally brought proceedings against CARDINAL ORG but dropped one because of concern over the defendant's age and ill health.
Under the terms of R&R and at the discretion of ORG, members who have not yet accepted have until DATE to do so.
The rights to settlement credits or benefits, lost due to non-acceptance may also be reinstated at the discretion of the ORG.",0
"Demands for commodity auction rule changes to stop overbidding for cocoa export contracts will dominate talks in GPE DATE on progress with NORP agriculture reforms, donor and industry delegates say.
""We are now ready to revisit the issue and the possibility of amending rules,"" a ORG official told ORG.
PERSON ORG, set up in DATE to review progress on a ORG (ASAC) timetable, meets in GPE on DATE.
A clear agenda was expected to emerge after intitial meetings between the NORP government, industry and international trade officials.
Exporters want immediate changes to the auction, which is aimed at ensuring price competition and market transparency.
""Exporters have to pay too much, sell at a loss and get into (contract) positions they don't really want,"" one told ORG.
ORG sponsored the auction as part of a MONEY ORG loan dating back to DATE on condition that rules and penalties were applied.
""The problem is that the Caistab (ORG marketing board) has not given us sales data since DATE,"" said CARDINAL bank official.
Contract allocation was previously handled by the PRODUCT as a state commodity marketing monopoly.
Donors in DATE agreed to CARDINAL modifications but said initial overbidding and concentration of export rights in a few hands had waned since the system was put in place in DATE.
""We cannot wait until DATE (Oct-Sept 1997/98) for changes,"" CARDINAL exporter told ORG. ""CARDINAL of each year is sold forward so new rules would not bite until DATE.""
""Support for the system is disappearing, especially for physicals traders,"" another said. ""There's a lot of forward buying for CARDINAL to ensure smooth debloquage.""
NORP ministry officials along with ORG, ORG, ORG, industry and trading representatives will attend talks.
""The market has certainly fallen below the price of some people's contracts,"" said CARDINAL exporter. Auction rules were partly the problem but recent low world demand and price could also mean some would hold on to stocks for a DATE premium.
Warehouses at NORP ports are full to normally operating capacity estimated to be QUANTITY.
There is also discord over auction penalty rules.
""Penalties are not being applied so the system is really not working,"" CARDINAL NORP-based buyer told ORG.
Exporters say penalties are unclear. ""The rules are too blurred and are being applied when they shouldn't,"" said CARDINAL.
Export contracts are auctioned in CARDINAL DATE sessions but exporters are banned for CARDINAL sessions if they fail to put up a bank guarantee of CARDINAL CFA per kilo within DATE of bid confirmation by the PRODUCT.
""We are still in disageement with the PRODUCT about the levels of interest rates,"" said CARDINAL exporter. Before the reforms, the PRODUCT put up guarantees on behalf of exporters.
ORG in DATE agreed to a proposal for an PERCENT split between sales to local exporters and by the PRODUCT directly to international traders.
""If international traders' bids do not at least match the best local exporters' bid they should not be allowed to buy,"" said CARDINAL exporter.
ORG has not agreed to parts of a ORG exporters' forum proposition to spread contracts more widely, CARDINAL highest bidders in each session.
""We have agreed the principal of differentiated prices and the CARDINAL-15 rule but not the CARDINAL bidders proposal,"" said a ORG official.
ORG wants bidders held to the price they bid, rather than winning contracts but at the ORDINAL highest bid price -- a rule which it says encourages overbidding.
(MONEY)
-- Abidjan newsroom + 225 21 90 90","Rains ended abruptly throughout most of GPE in DATE, allowing crops to dry after the extended rain, upcountry buyers and weather analysts say.
Weather data showed average rain down to 8mm from QUANTITY at DATE, with little or no rain falling at CARDINAL of CARDINAL stations monitored in DATE.
A total of CARDINAL mm fell compared to QUANTITY at CARDINAL stations in DATE. Only the northern ORG area, with QUANTITY, and the far southwest around GPE, with 42.5 mm, received noticeable amounts.
Around 250 mm fell in GPE and GPE alone in DATE during a late, small rainy DATE usually seen in DATE and DATE.
""The inter-tropical weather front has still not brought down GPE (drier conditions usually seen in DATE and on through DATE after rains),"" said CARDINAL weather analyst.
Farmers visited by ORG over DATE had begun drying beans but some exporters in GPE were rejecting moist beans, some of which had sat uncollected in villages before mud tracks solidified.
Heavy rains fell in DATE, leading to deterioration of bushtracks and raising cocoa bean humidity levels to PERCENT, compared to exportable levels of PERCENT.
CARDINAL crop analyst said before the latest figures that mid-crop (DATE) prospects would be boosted by another 20mm rain by DATE. Sporadic rains have fallen upcountry since DATE but DATE rainfall figures were not immediately available.
ORG flowers are expected to give cherelles (small cocoa pods) as insect activity gets underway after rains end. Crop analysts will be looking for clear indications of prospects in DATE.
Crop analysts see the rains as beneficial for pods still on trees as a preceding small dry season had also been late and wetting would cushion the effects of coming dry GPE winds.
The data, from GPE national weather station, shows rainfall for DATE in the following key growing areas -
ORG QUANTITY, GPE 0 mm, LOC QUANTITY, GPE 42.5 mm and PERSON, PERSON 0 mm, GPE 0 mm, PERSON.
No data was available for Abidjan and PERSON but sporadic rains have been seen by ORG in south coast areas, including GPE, since DATE. --Abidjan PRODUCT + 225 21 90 90",1
"Freight hauler ORG said DATE it could cut PERCENT of its workforce as part of a restructuring of its largest operating unit, ORG.
GPE, Kan.-based ORG said it has offered early retirement to CARDINAL employees who are DATE and older and that it will announce layoffs in DATE.
The company also said it will take an unspecified charge to DATE earnings to cover expenses resulting from early retirement, severance and other costs related to a reorganization of ORG along geographic lines.
Each geographic unit will have a group vice president who reports to PERSON President PERSON, while CARDINAL officers at the central office will also report to ORG, the company said.
""We are decentralizing responsibility for the business processes that touch the customer in an effort to be more responsive to their ORG needs,"" Zollars said of the less-than-truckload freight hauling business.
""All members of the leadership and management teams will be focused and incentive-based on CARDINAL priorities,"" said ORG. ""Those areas are customer satisfaction, improved profitability, revenue growth and operating safely.""
Employees will have until DATE to make their decisions on whether to take early retirement, ORG said.
The number of layoffs will be determined, in part, based on the early retirement decisions, as well as the needs of the company as it reorganizes, a spokesman said. He estimated PERCENT of ORG's CARDINAL employees could be affected.
Analysts said the moves announced DATE were part of a strategy to improve performance at ORG and help it regain market share.
""I think they need to focus on some labour productivity,"" said PERSON, analyst at ORGamp; Co. ""Obviously, that needs to be done in line with their union contract and what can be allowed.""
Yellow shares fell MONEY to $MONEY on the ORG system.","Federal regulators are set to kick off a CARDINAL-part plan to slash rates on overseas phone calls, a move that could save consumers and companies MONEY but may ruffle the feathers of foreign governments.
ORG is expected DATE to make it simpler for GPE and foreign phone companies to negotiate cheaper rates for international calls to and from GPE.
DATE the ORG is expected to propose rules to cut the charges GPE carriers pay foreign phone monopolies to complete overseas calls made from GPE.
""The ultimate goal is to get lower-priced and better-quality services for consumers,"" said PERSON, head of the ORG's international bureau.
Officials say the foreign charges, or ""accounting rates,"" run CARDINAL times actual costs, reflecting the power of state-run monopolies unexposed to home competition. Monopolies control PERCENT of the non-U.S. market.
GPE phone companies, as a result, paid their overseas counterparts MONEY more in DATE than foreign companies paid GPE carriers to complete calls.
""This figure would drop in TIME if NORP carriers simply paid fees even vaguely related to costs,"" ORG Chairman PERSON said in a recent speech. He noted that the imbalance dwarfs the GPE foreign aid budget of MONEY.
GPE has big imbalances with GPE, GPE, GPE, GPE, GPE and GPE, among others.
""Those few countries trying to defend their monopolies are going to be nervous"" about the ORG effort, said PERSON of ORG.
GPE carriers support the strategy.
""You've got to move accounting rates to cost,"" said ORG Vice President PERSON. ORG said it must pay MONEY a minute to have its calls connected to GPE, but that the actual cost is MONEY a minute.
The ORG actions come as GPE is seeking to open overseas telecommunications markets through talks sponsored by ORG.
To cut rates and open markets, the ORG is adopting a carrot-and-stick approach. DATE's order is meant for open markets, such as those in GPE, GPE and GPE.
The ORG will waive its ""proportionate return"" rules that limit the ability of GPE and foreign carriers to negotiate lower rates for overseas calls. To win a waiver, a foreign carrier's home market must be open to competition.
The existing rules require overseas companies to turn over their long-distance calls to GPE carriers in the same proportion GPE carriers send calls to a foreign carrier's home market.
If ORG, for example, accounts for PERCENT of calls to a country, then that country's monopoly must hand off PERCENT of its U.S.-bound calls to NORP
The ORG proposal due DATE would set ""benchmark"" rates for what GPE carriers could pay foreign carriers to complete calls. These rates, according to ORG officials, would better reflect actual costs.
The agency must still work out the details of how long a country would have to lower its rates and what steps could be taken if it refused to do so.
""It literally has the potential of saving consumers MONEY,"" said PERSON, an attorney with ORGamp; Crutcher.
But the plan could rub governments the wrong way. High rates charged by their own phone monopolies can be used to maintain bloated payrolls or to subsidise local phone service.",0
"GPE faces a number of regional bank failures over DATE but the nation's financial system should not suffer any major damage, a leading GPE rating agency said on DATE.
Senior executives from ORGamp; ORG said weaker NORP regional banks will go to the wall as liberalisation triggers a shake-out in the NORP financial sector.
They were speaking to reporters after the agency issued ratings on a small number of top NORP regional banks, which were mostly judged to be a reasonably safe investment.
""We will see some (NORP) regional bank failures,"" PERSON, an S&P director, told a news conference.
But he said that as long as the process was well-managed, the failures should not cause a crisis of confidence in the financial system.
The credibility of GPE's debt-burdened finance industry has been rocked by a string of banking failures, including the forced closure DATE of ORG, a ORDINAL-tier regional bank based in western GPE.
PERSON, an associate director at S&P, said it would be hard for some other ORDINAL-tier regional banks to stay afloat. While some of GPE's top regional banks enjoy higher credit ratings than big commercial banks, smaller regional banks continue to be plagued by poor asset quality and structural problems, she said.
When NORP authorities stepped in to close NORP, it was the ORDINAL such forced halt of a bank's operations since EVENT, and only the ORDINAL bank failure since then -- although several small credit unions have folded.
At the time, the authorities said such swift action was essential for the recovery of the financial system.
PERSON said that this could become a standard method of dealing with future bank failures.
GPE's other CARDINAL post-war bank failures were dealt with by creating new bodies to take over their business.
PERSON, an analyst at ORG), echoed the S&P view. ORDINAL-tier regional banks are likely to be at the sharp end of industry restructuring in DATE, he said.
""We believe that there are a number of other 'tier CARDINAL' banks that appear to be equally shaky (as NORP),"" he said.
However, ORG is honouring a promise it made DATE to intervene at an earlier stage to close down poorly managed financial institutions, he added.
To meet strong capital market interest in financial institutions, S&P gave public information (pi) ratings to CARDINAL ORDINAL tier regional banks on DATE. These are unsolicited credit ratings based on information available to the public rather than lengthy consultations with the issuer.
S&P plans to rate more NORP banks on a ""pi"" basis, including some of the nation's CARDINAL biggest banks and ORDINAL-tier regional banks, over DATE.
Of the CARDINAL regional banks given ""pi"" ratings by S&P, ORG got the lowest rating of BBpi while ORG got the highest at Api. GPE ratings were given to CARDINAL regional banks -- ORG, ORG, Iyo Bank Ltd, Nanto Bank Ltd and ORG
Ratings in the ""AAA"", ""AA"", ""A"" and ""BBB"" categories are considered investment grade, while the ""BB"" category is regarded as having speculative characteristics.","GPE's financial industry is gradually recovering from the bad-debt hangover left by the economic ""bubble"" DATE, but the pain lingers on for smaller banks and loan institutions.
Analysts say the industry has got over the worst of the bad loan mess after vigorous efforts by the government and major banks over DATE to tackle the problem. Any further serious damage to the system is therefore unlikely, they say.
But the picture is darker for small institutions that lack the financial might of the big banks but were similarly saddled with soured loans from DATE lending boom.
Analysts say it will take DATE to restore confidence in the banking sector given the lingering problems and exposure to the troubled real estate and construction industries.
The nervousness was highlighted DATE by the collapse of financing firm ORG with huge debt liabilities, and revelations of losses at a regional bank because of suspected misuse of funds by an ex-employee.
Both these incidents jolted financial markets. In the case of ORG, the markets were unsettled by vague rumours of dire trouble before the bank said it had lost money due to the suspected misappropration but remained in sound health.
A new restructuring programme unveiled DATE by ORG, a contractor and engineering company, also fuelled concerns that banks would face new burdens as ailing firms seek further support while trying to reshape themselves.
PERSON, an analyst at ORG, said the banks are dealing with the problem in stages -- ORDINAL with their own bad loans, then the problems of affiliated firms and, finally, the issue of other debtors.
""Banks are trying to dispose of problem loans to independent non-banks after mostly completing write-offs of debt held by their non-bank affiliates,"" he said.
Failures of troubled non-banks are already anticipated and it may take DATE for the big banks to fully recover from the mess, he said.
Non-banks are financial firms which do not take deposits but rely mostly on loans from banks and other deposit-taking bodies such as agricultural credit ORG.
Like the ""jusen"" mortgage firms, which were wound up DATE, many non-banks are in trouble. They lent to golf-course and resort companies that joined hands with developers looking for easy profits during the free-wheeling ""bubble"" DATE.
When asset prices began to plunge in DATE, many firms which had relied on borrowed funds for investments were unable to repay the money, causing a ripple effect of bad debt.
ORG said DATE that outstanding loans by GPE's CARDINAL non-banks fell PERCENT to MONEY (MONEY) at DATE from DATE.
Analysts said GPE's main creditors -- ORG (DKB), ORG and ORG -- are expected to give up their claims after the company filed for restructuring under court guidance, a category of business failure under GPE's bankruptcy laws.
As of DATE, ORG had MONEY (MONEY) (MONEY) in loans to ORG, while ORG had MONEY (MONEY) and ORG MONEY (MONEY) in loans, they said.
PERSON, a ING Baring Securities (GPE) analyst, said the amount these CARDINAL write off for GPE will only be CARDINAL of their total disposals DATE.
DKB has predicted an operating profit for DATE of MONEY (MONEY) and current profit, a form of pre-tax profit including non-operating activities, of MONEY (MONEY). This suggests DKB may use the difference -- MONEY (MONEY) -- to write off problem loans.
GPE's CARDINAL big banks are already planning to dispose of MONEY (MONEY) to MONEY (MONEY) of problem loans in CARDINAL after writing off MONEY (MONEY) in CARDINAL, analysts estimated.
It will, however, take some time for creditor banks to solve the problem of the non-banks including ORG and ORG
The search for a solution is complicated by the fact that the non-banks are part of a web of lending, having borrowed from CARDINAL creditors including financially weak agricultural credit unions.
""People say that the problem is that losses (stemming from the non-bank liquidation) may break the back of weak agricultural financial institutions,"" CARDINAL analyst said. (MONEY)",1
"When ORG fired co-founder PERSON in DATE, ORG employees did not know whether to cry or to rejoice.
Through DATE, ORG had inspired ORG engineers to create a computer called the ORG which would change the world. At the same time, though, PERSON and his mercurial temper burned out many of the same engineers who adorded him.
On DATE, DATE after Jobs was ousted in a stunning boardroom coup, ORG took a huge gamble by bringing him back.
His assignment is to help the GPE, GPE-based computer company revamp the software behind the ORG, an effort that had been mired for DATE.
The bet is that Jobs is the only person who can inspire ORG's demoralized programmers to create software that would leapfrog ORG competing Windows operating system.
""He will help tremendously,"" said PERSON, a former ORG programmer who worked under Jobs to write the software of the original Mac. ""PERSON is incredibly bright, talented, amusing.""
On DATE, as word of ORG's decision to rehire Jobs spread, shares of the company rose $MONEY or PERCENT, to $MONEY.
Job's new company, ORG, which ORG agreed to acquire on DATE for MONEY, offers a computer operating system that has many of the software bells and whistles ORG has been looking for to catch up with rival ORG.
ORG had tried to reach a deal with closely held software company ORG, founded by another former ORG executive, ORG, but the talks broke down and the company turned to Jobs for help.
With ORG's existing technology, ORG hopes to finish the overhaul of its popular ORG operating system -- the type of program that controls the fundamental functions of a computer -- in DATE.
But the key asset that ORG acquired is Jobs. He will serve part-time as a technology adviser and will report to ORG Chairman PERSON.
Several ORG programmers working on the Mac overhaul said they have been frustrated for DATE with a string of weak managers who could not get the project past a rough sketch even after DATE. With Jobs, the programmers said, they hope the project can finally move forward.
""Everybody is excited,"" said an ORG employee close to the project. ""I am very excited.""
The risk of hiring Jobs is his volatility. People who have worked for him said PERSON has a knack for inspiring engineers to think that their work is a life-or-death project, a sentiment ORG now needs. But the same sentiment can burn engineers out.
""In some ways he has mellowed, but he still has an incessant drive for perfection,"" said PERSON, the PERSON's ORDINAL marketing manager.
Jobs could not be reached on DATE for comment. On DATE he told reporters he was looking forward to rejoining the company he co-founded DATE out of his parent's garage.
""I feel very lucky to be a part-time ORG employee and work for PERSON and advise him on product strategy.""
Jobs also will work with ORG PERSON, a veteran ORG software manager who has set specific goals for the operating system team.
Jobs' visionary role and PERSON's strict, no-nonsense management style balance nicely, said PERSON, analyst at market researcher ORG.","Software giant ORG MSFT.N  plans to pay dividends to stockholders for the ORDINAL time through a new issue of preferred shares, according to documents filed DATE.
The hugely profitable company, which has not paid dividends in its DATE as a public company but has hoarded a cash pile that has grown to MONEY, said it planned to issue MONEY worth of the new class of stock.
""We are responding to the desire of some investors for an income-yielding stock, while still allowing them to participate to a significant degree in the growth potential of our company,"" Chief Financial Officer PERSON said in a statement.
The preferred shares will protect investors against risk, guaranteeing they will get back their principal in cash or common stock at DATE along with DATE dividends that will be specified at the time of the offering.
But investors will have only a limited opportunity to enjoy the kind of stock appreciation available to owners of ORG common stock, which has risen PERCENT DATE.
The value of the preferred shares will be capped at a percentage to be established when the offering is completed. Similar convertible preferred shares have been capped at PERCENT PERCENT growth.
In the past, ORG Chairman PERSON and other board members have resisted calls for a common stock dividend, saying the fast-moving computer business required high research spending levels and the flexibility to make large acquisitions if needed.
PERSON said the planned issue of preferred shares was consistent with that philosophy, noting that the MONEY would represent PERCENT of the company's market capitalization.
""We dont believe the bulk of our investors want a common dividend,"" PERSON said. ""We believe that the best use of (cash) is to reinvest in the business. On the other hand we do understand that some investors want a common dividend, and we created a security that offers them the opportunity to become investors in ORG.""
The amount of the offering could rise to MONEY if underwriters ORG and ORG exercise options, ORG said in the filing with ORG.
Pending ORG approval the offering could be completed in DATE.",0
"ORG (ORG) became the latest victim of sterling's recent strength on DATE, as the NORP insurance giant reported a sharp fall in profits for DATE.
A QUANTITY (MONEY) currency loss by the company, CARDINAL of whose profits come from outside GPE, largely accounted for a near PERCENT fall in operating profits for DATE to MONEY.
GPE weather related losses of MONEY and severe competition in the general insurance market were a further drag on profits.
But overall the results broadly matched market expectations with the life business, which accounts for PERCENT of premiums, showing healthy growth once currency effects were stripped out.
ORG said it intended to continue to expand its life operations to take advantage of its ""more consistent profit streams and its exciting growth prospects"".
Finance director PERSON said the group would not rule out acquisitions to stimulate further growth.
""Our strategy of more emphasis on life business has proved viable so far...we will be looking at any suitable acquisition that we may come across,"" Foster said.
This might include overseas businesses but the company stressed it did not mean it would grow solely through acquisitions and that the focus remained on organic growth.
According to ORG the strength in sterling had masked significant profit rises in continental LOC.
Over DATE as a whole, the pound advanced PERCENT against the dollar, PERCENT against the NORP franc and PERCENT against the mark.
After adjusting for the exchange rate, overall operating profits were down PERCENT on DATE and life profits PERCENT higher at CARDINAL.
Despite the underlying operating performance worries about the impact of the currency on ORG's net asset value (ORG) prompted a sharp markdown in the shares.
The ORG was down to MONEY at DATE from MONEY DATE, though analysts said there had been quite a strong recovery in net asset value in DATE.
By TIME, ORG shares were MONEY lower at MONEY.
In general insurance, good results in GPE, the GPE and GPE helped offset part of the effects of competition in the NORP market and GPE weather claims.
Despite this and even adjusting for the currency, general insurance profits were PERCENT lower at MONEY.
Echoing comments from ORG (ORG) which reported results DATE, ORG said it was seeing signs of a rise in motor market rates.
Like ORG it expected to see motor rates firming through DATE. Household rates were also likely to edge ahead, particularly given recent storms in GPE and a cold snap at DATE.
($ = 0.610 NORP Pounds)","Pegged currencies are common in LOC, with its fondness for order and authoritarianism.
But to peg one's currency is always a drastic step with heavy consequences. While a fixed exchange rate might reassure foreign investors about currency stability, it can also prompt a slew of unruly side effects.
""What you ultimately sacrifice is your control over inflation,"" said PERSON, regional strategist with ORG in GPE.
GPE, GPE, GPE, GPE, GPE, GPE and GPE all peg their currencies directly or indirectly to the GPE dollar, requiring all them to mimic GPE monetary policy to a greater or lesser extent regardless of domestic conditions.
Most of these economies bear no relation at all to the slow-growth, low-inflation GPE. Instead, they are experiencing high growth and a rapid increase in domestic consumption at the same time -- an ideal recipe for inflation.
The lack of traditional inflation-fighting tools is a serious loss for countries anxious to avoid any erosion of often hard-earned economic progress.
SERIOUS PENALTIES
There are other, serious penalties, too.
A lucrative interest rate arbitrage can cause real problems for small NORP countries with fixed exchange rates. Best described as borrow low, lend high, the most common arbitrage tends to attract precisely the sort of capital inflows most small, NORP countries dread: so-called ""hot money.""
Large financial institutions with access to the best international lending rates deposit borrowed funds into NORP banks offering much higher yields and, because of the fixed exchange rate, avoid currency loss when they switch out.
Higher rates offer bigger returns, which attract even larger flows of hot money that swell money supply dramatically. Attempts by central banks to curb money supply by raising rates can have the reverse effect, luring in more hot, volatile money.
Both GPE and GPE are familiar with this danger.
CARDINAL economist noted that GPE has offered one of the best arbitrage opportunities in LOC for as long as it has depreciated its currency by CARDINAL DATE, but the returns were particularly spectacular DATE.
Speculators and hedge funds borrowed large sums in NORP yen at PERCENT DATE and switched them into NORP bank accounts yielding PERCENT -- or more when riots swept through GPE in DATE.
""In terms of cost of funds, when you take the currency depreciation of the yen and the mild depreciation of the rupiah into account, you're paying nothing,"" the economist said.
The problem became so acute DATE that GPE's central bank was forced to widen repeatedly the trading band for the rupiah, taking the market by surprise.
""The point of widening the fluctuation is to impart greater uncertainty so that it's not a freebie,"" said PERSON, senior economist at ORG in GPE.
GPE also ordered its commercial banks to stop lending on occasion, even though soaring rates and strong loan demand offered excellent returns.
THE THAI EXPERIENCE
GPE, which pegs its beleaguered baht to a basket of currencies including the GPE dollar, tried to turn this arbitrage to its advantage by setting up ORG (ORG) in DATE.
The plan, much admired by NORP experts, back-fired when ORG downgraded GPE's short-term debt rating, drawing attention to its foreign liabilities.
The negative attention helped to fuel rampant speculation about a devaluation of the baht, forcing massive intervention by GPE's central bank to keep the unit above a CARDINAL low.
Under the ORG, a number of foreign and domestic banks were allowed to borrow foreign currency overseas, usually in GPE dollars, and then lend the money in GPE.
The scheme was a huge success. Foreign investors, already benefiting from competitive rates, also qualified for preferential tax treatment and rushed to invest in GPE.
""Without those tax incentives and the access to cheap loans - GPE dollars are by definition cheaper than GPE (baht) - those companies would not be attracted to GPE,"" said PERSON, chief economist at ORG.
BIBF flows were used primarily for long-term investment, but international accounting rules required that they be classifed as short-term. This generated a sudden explosion in GPE's short-term external debt to PERCENT of private sector debt in DATE compared with PERCENT in DATE -- a situation that quickly came to ORG attention.
NORP economists defended the scheme while acknowledging its risks. ORG noted that GPE's foreign exchange reserves of MONEY far exceed outstanding short-term loans of MONEY.
And ORG rival, Standard and Poor's, pointed out that many ORG loans are backed by foreign banks rather than domestic financial institutions.
""Foreign BIBFs are probably less vulnerable to shifts in investor confidence, because their parent banks are more likely to stand behind them should unaffiliated lenders withdraw their credit lines,"" ORGamp; Poor's said. ""Moreover, obligations of foreign-owned BIBFs are not a contingent liability of the NORP government, given their foreign ownership.""
There is no question that the ORG helped to lift foreign liabilities in GPE's banking sector, but the underlying causes of the banks' asset quality problems were more commonly blamed on a weak property sector, economic recession, political turmoil and a gaping current account deficit.
Recent attacks on the baht were precipitated by concern about how to finance the current account following projections of a DATE fiscal deficit.
But analysts said the foreign liability created by the ORG will probably provide further motivation for the central bank to defend the currency. And a sustained defence will require action on those asset quality problems.
""This means shutting down insolvent institutions and building the capital base of viable ones. The longer the delay in formulating such a plan, the greater will be the baht's susceptibility to speculative attacks,"" ORG said.",0
"ORG said DATE it would decide whether a federal regulator had properly allowed credit unions to expand their membership over DATE, settling a long-running legal dispute between the cooperative non-profits and banks.
Credit unions praised the court's action to reconsider an ORG court decision DATE in favour of the banks. But bank representatives said the court was only delaying the inevitable.
The DATE ORG creating credit unions ""was not meant to delineate and protect bank markets at the expense of the consumer,"" said PERSON, president of ORG, the credit union being sued by banks in the case.
""Consumers everywhere will be the winners when banks compete in the marketplace instead of the courts and on ORG,"" PERSON added.
ORG executive vice president PERSON countered that ""the facts and law weigh overwhelmingly in our favour.""
""We are disappointed at the prospect of delay in the enfocement of a law we believe is quite clear,"" he said.
ORG will hear arguments in the case in its upcoming term, which begins in DATE. A decision is likely DATE.
The case affects CARDINAL federal credit unions serving CARDINAL customers, ORG lawyer PERSON said.
The appeals court ruling in favour of the banks ""threatens nationwide instability and losses in the credit union industry affecting CARDINAL of persons,"" Dellinger said.
Until DATE, credit unions were limited to having members with a single common bond, such as people who worked for the same employer or lived in the same neighbourhood. Owned by their members, non-profit credit unions paid no federal taxes and were able to offer bank-like services often at lower prices than banks.
But in DATE, concerned about a lack of diversification, ORG decided to allow credit unions to accept members from multiple distinct groups.
As many previously tiny credit unions diversified and grew substantially larger, banks complained of unfair competition. In DATE, they sued ORG, a GPE union that had grown to encompass CARDINAL different groups.
After ORG for the District of Columbia struck down the DATE policy change DATE, a lower court imposed strict membership limits on multi-group credit unions.
Those limits have since been put on hold until ORG makes a decision. But if the banks win, their next move could be to ask the courts to force multi-group credit unions to throw out members from all but CARDINAL group.
Credit unions said they will ask ORG to amend the law if they lose in ORG.
""ORG never intended the DATE ORG to limit credit union growth or to protect banks from competition,"" said PERSON, president of ORG, a leading trade group. ""If the court does not see it this way, we think ORG will recognise consumers' need for credit unions.""
((CARDINAL-898-8312))","The growing mass of Internet users have paid their fair share to local telephone companies and pose little threat to the phone system, according to a study released on DATE by a coalition of Internet and computer companies.
The coalition presented the report to counter studies by local phone companies released DATE seeking to justify new access fees on Internet usage. The phone company studies found that Internet usage threatened to overwhelm the system.  
""The Internet is not crashing the telephone network,ORG President PERSON said at a news conference here.
""We are bringing the real facts to bear on a 'problem' that the phone companies have anecdotally created to protect their own interests,"" said PERSON, whose group is a member of ORG.
On DATE, ORG said it had tentatively decided not to impose access fees on Internet providers similiar to those paid by long distance companies to local phone companies.  
But the commission also asked for comments about the effect of the Internet on the phone system.
""Our findings clearly show that claims of phone network 'congestion' resulting from Internet traffic and predictions of a 'meltdown' are greatly exaggerated,"" said PERSON, CARDINAL of the study's authors.
Further, ordinary consumers using the Internet already pay the phone companies more than enough to cover the cost of increased use, said ORG, who is an expert on telecommunications regulation.  
The study found, for example, that in DATE consumers paid MONEY for installation and use of CARDINAL second phone lines devoted to accessing the Internet or other online services. The study said CARDINAL lines were not primarily used for Internet access.
Local phone companies, some of which had not yet seen the new study, disputed ORG's conclusions.""To suggest that there is no real problem here is mind-boggling,"" ORG spokesman PERSON said. As Internet companies add huge numbers of phone lines to meet growing demand, ""it does impact the capacity of the public telephone network.""  
America Online, for example, said recently it would double the number of modems it has to connect with subscribers from CARDINAL by DATE.
But phone company studies considered only a few pieces of the phone system, focusing on switches between Internet service providers and the rest of the network, ORG said. While those few switches might be congested, capacity could be added inexpensively, he said.
The study also cited speeches by some phone company executives who have bragged about the additional revenues generated by increased Internet usage.  
""Sales of secondary lines at ORG increased PERCENT, fueled by surging demand for Internet and telecommuting applications,"" company CEO PERSON told Wall Street analysts DATE. The revenue generated substantial profit because ""we were able to provision new lines and services from idle capacity in an existing plant.""
Company spokesman PERSON said charges from ORDINAL lines ""were not designed to subsidize Internet service providers.""
However, all sides agree that a technological solution could eliminate most congestion problems by separating calls carrying voice and data.
ORG, parent of ORG, announced DATE it would introduce such splitting technology at a cost of MONEY.
""Technological solutions are readily available,"" PERSON, chairman of the Internet coalition's steering committee said.
((--202-898-8312))",1
"NORP Telecom (BT) made corporate history on DATE by unveiling a MONEY merger with GPE's ORG in a coup that ensures it a leading position in the world's biggest telecoms market.
The giant merger with ORG, in which ORG already has a PERCENT stake, is to be called ORG and marks a vital step in ORG's plans to expand overseas as world markets begin liberalise, following in the steps of GPE and GPE.","ORG unveiled the largest merger in GPE's corporate history on DATE, linking up with ORG, the number CARDINAL GPE long-distance phone company, to create a MONEY group.
DATE after alliance talks failed with ORG's NORP rival ORG and ORG, ORG announced that its deal with ORG, to be called ORG, would create one of the world's largest telecoms groups with CARDINAL business and residential customers in CARDINAL countries.
BT already owned PERCENT of ORG with which it has created the PERSON joint venture, providing a whole range of communications services to customers in CARDINAL nations.
""The merger combines the substantial financial resources and global position of ORG with the growth momentum and market expertise of ORG, known for its success in the competitive GPE long distance market,"" ORG said in a statement.
Under the deal, which has yet to be agreed by regulatory authorities on either side of the LOC, shareholders in ORG would receive MONEY in cash as well as CARDINAL new ORG Shares for every ORG share held.
Under the proposed deal, ORG is paying its shareholders a special dividend bonanza of MONEY a per share, worth MONEY.
BT did not immediately give figures for the total value of the proposed deal, details of which started leaking into the markets late on DATE.
Analysts expect the deal to be worth MONEY.
The new telecoms giant, incorporated in GPE, would have headquarters in GPE and GPE and operate under the ORG and ORG brand names.
BT has been looking for a major acquisition since its proposed merger with NORP rival ORG and ORG failed in May. BT had been keen to forge that deal because it would have given it access to the lucrative NORP telecoms market -- the world's fastest growing market.
Analysts now expect ORG and ORG to start making overtures to major NORP players such as GPE's giant ORG and ORG, the world's largest telecoms group. The company said in a statement that the proposed deal would create a world leading communications power house with DATE cash flow of MONEY.
ORG expects the merger would yield savings from combining overlapping services of MONEY (MONEY) over DATE and MONEY per year before tax after that.
BT also forecast dividends of MONEY per share for DATE -- a rise of PERCENT over DATE -- excluding the CARDINAL per share special dividend.
BT, which will release full year results on DATE, has declared DATE dividend of MONEY payable in DATE, PERCENT more than in DATE.
The deal is believed to be the ORDINAL largest ever involving a GPE company -- topped only by the DATE buyout of ORG by PERSON
Analysts said a combined company would be a good fit in the ultra-competitive GPE long-distance phone industry, where ORG's major competitors are ORG and ORG.
Current market leader ORG, which would be the hardest hit by a fiancially muscular new enlarged rival, said on DATE it was confident any ORG/BT deal would receive proper scrutiny by the GPE government.
CARDINAL potential problem is a media joint venture between ORG and PERSON ORG would end up with ORG's PERCENT non-voting stake in ORG and this could cause regulatory difficulties in GPE, analysts say. (MONEY)",1
"A GPE forensics team has arrived in GPE to recover the remains of crew members from a crashed EVENT bomber recently discovered in south-western GPE, GPE officials said on DATE.
The team from ORG would focus on recovering and identifying the remains of the doomed bomber's crew, a GPE official told reporters at a briefing.
""Our purpose is to recover all human remains and make the fullest possible identification of the CARDINAL crew members on that plane,"" said the official, who asked not to be identified.
Officials of south-western GPE's GPE region would hand over the remains of the CARDINAL men, aged from CARDINAL to CARDINAL, who died when the PRODUCT bomber slammed into a cliff near scenic ORG on DATE while returning from a bombing raid on NORP ships around GPE, the official said.
Local villagers looking for wild mountain herbs had stumbled across the scattered remnants of the bomber in a remote ravine DATE, he said.
GPE officials ORDINAL learned of the wreckage when NORP President PERSON handed over a video and photographs of the crash site to GPE President PERSON when the CARDINAL met in GPE DATE at the summit of ORG forum.
NORP Defence Minister PERSON gave GPE Secretary of ORG PERSON two dogtags recovered from the site during a meeting in GPE DATE.
GPE's claim that the wreckage was found DATE appeared to be true, the official said.
""There's no indication that it is anything other than what they said it was,"" the official said, adding that the NORP government had given them full cooperation in arranging the repatriation of the remains.
Some analysts have said GPE may have known of the wreck for some time but has made it public only at a time when it is eager to improve strained ties with GPE.
""The NORP see this as a humanitarian issue,"" the official said.
GPE forces lost contact with the bomber after it was forced to change course to GPE because of a NORP assault against its original base in GPE, also in GPE region, he said.
The cause of the crash was still unknown and the forensic team would not seek to discover what brought the plane down on this trip, he said.
Video footage of the site seen by reporters showed CARDINAL sets of dog tags, CARDINAL pistols, machineguns and other pieces of equipment recovered from the destroyed aircraft.
NORP authorities had sealed off the crash site and the video and photographs suggested the wreckage had been untouched for DATE, the official said.
""The recovery of small items, usually the ORDINAL things to go, would indicate there has been no scavenging,"" he said.
The remains would be flown back to GPE DATE for analysis and identification, he said, adding that it could take DATE to identify the remains.
GPE officials had made contact with representatives of all CARDINAL families including CARDINAL son, he said.
A GPE team trekked to a NORP site in remote GPE in DATE to recover remains from another GPE aircraft that crashed in DATE, another GPE official said.
From CARDINAL GPE airmen remained unaccounted for after disappearing during EVENT flights over GPE, where GPE aviators for DATE supported attempts by the then NORP government to resist NORP invaders.","In a move that would reshape the world medical device business, ORG agreed DATE to make CARDINAL long-awaited, strategic transactions that would lift it into the top ranks of manufacturers of devices for regulating heartbeat.
The MONEY package of interlocking deals is costly and poses some risks, but likely will proceed, analysts said.
Shares in GPE, Minn.-based GPE traded down CARDINAL to CARDINAL after the announcement, while shares in other companies in the industry also fell.  
""There's a small chance this won't go through, and the Street is also concerned about dilution. But I think this is perfect timing ... It's an idea whose time has come,"" said ORG medical technology analyst PERSON.
The main thrust of GPE bold move is an agreement to buy ORG in a stock swap valued at MONEY. Ventritex, of GPE, GPE, is the smallest of CARDINAL companies that dominate the fast-growing, MONEY world market for implantable defibrillators, or ICDs -- electronic devices implanted in the chest and connected to the heart by wires to keep it from beating too rapidly.  
To resolve some long-standing legal actions and help free ORG from cross-licensing restrictions that have hobbled it for DATE, GPE is making CARDINAL smaller deals.
The company agreed to buy certain assets from ORG, a unit of GPE's ORG ; to acquire ORG, an LOC medical goods distributor also tied to ORG; and to buy certain intellectual property rights from the GPE unit of ORG, owned by NORP medical giant ORG.
""Part of the brilliance of this deal is bringing all these parties together,"" said ORG analyst PERSON.  
GPE is the world's largest maker of heart valves, markets for which are growing, but slowly.
In search of growth and risk diversification, chief executive PERSON engineered GPE DATE acquisition for MONEY of the ORG unit of GPE's ORG. The deal transformed GPE into a leading manufacturer of heart pacemakers.  
Since then, rumors have swirled that GPE might acquire ORG--a deal seen by many analysts as setting a capstone on GPE's efforts. ""If he pulls this off, it's the highlight of his career,"" said PERSON analyst PERSON.
Even with GPE careful efforts, analysts said legal action could ensue. The other CARDINAL main players in the ICD market -- ORG -- could seize the chance to drag GPE into the courtroom.  
Shares in GPE-based ORG were down CARDINAL to CARDINAL, while shares in GPE-based ORG were off CARDINAL to CARDINAL. Analysts said both fell on a perceived competitive threat from the St. Jude-Ventritex combination.
""ORG's world is getting more competitive, but I think they're less vulnerable than Guidant ... A hard rain is going to fall on GPE,"" PERSON said.
Acquiring Ventritex promises to cut into GPE future profits. ORG analyst PERSON estimated DATE earnings could be reduced by PERCENT.
Analysts disagreed on whether DATE earnings would show a neutral, positive or continued negative impact from the deal.
GPE earned MONEY, or $MONEY per share, on sales of MONEY in DATE. The pre-merger ORG consensus of Wall Street analysts' estimates projected GPE earnings of $MONEY per share in DATE and $MONEY per share in DATE.
""""One of the reasons the stock is off is uncertainty over DATE earnings ... It's very difficult to say what GPE earnings will look like in DATE in the wake of this. But if you look into DATE and beyond, it's powerful,"" Smith said.
--Chicago Newsdesk 312-408-8787",0
"GPE's biggest retailer, ORG, reported on DATE a firm rise in sales revenue, signalling the worst may be over for the country's long-suffering merchants.
Coles announced a PERCENT rise in sales revenue to MONEY (MONEY) for DATE, sounding a rare note of optimism in an industry that has been hit hard by a downturn in consumer spending.
Coles, which pockets MONEY in every retail dollar spent in GPE, attributed the result to good management rather than any pick-up in the economy.
""A lot of people have done a lot of work to get where we needed to get,"" Coles chief executive PERSON told ORG.
But PERSON' announcement came DATE after another retailer, PERSON, reassessed its profit outlook, painting a slighter brighter picture than the bleak dive in earnings it forecast just after DATE.
PERSON, an upmarket department store chain, had told ORG DATE it feared a PERCENT fall in interim profit, but changed its mind DATE.
""It will not be as bad as that,"" PERSON chief executive PERSON told ORG on DATE.
He did not elaborate but stock analysts said on DATE post-Christmas clearance sales helped lift the company's overall sales result to MONEY for DATE -- PERCENT lower than DATE.
""I think we have probably gone through the worst in spending, but I would not expect a dramatically big turnaround,"" said retail analyst PERSON, of ORG.
""The sentiment is still a bit fragile, but at DATE, until there's a bit more job creation out there, people are not going to be spending more,"" he told ORG.
Another GPE-based analyst agreed that consumers' wallets would be slow to open.
""I think we will (see a recovery) but I don't think we saw it in DATE,"" the analyst said.
NORP retail sales are at their lowest ebb since the nation's official statistician began counting them DATE. They have fallen in trend terms in each of DATE.
Employment has also been weak with GPE's jobless rate hovering at PERCENT.
PERSON confirmed on DATE that trading conditions were still tough, especially in clothing and fashion. The group's only specialist apparel chain, ORG, reported a PERCENT drop in turnover in the latest sales figures.
But Coles' PERSON said profit margins in its underperforming department store chains were improving, as store managers improved the quality of merchandise sold and pared back costs.
In sharp contrast to the group's PERCENT fall in net profit in CARDINAL, PERSON said he expected an increase in bottom-line earnings for DATE.
""Our earnings are in line with our plan,"" he said.
Coles reported net profit of MONEY in CARDINAL, and stock analysts are forecasting a modest profit rise in CARDINAL.
(A$MONEY = US$MONEY)","NORP utilities could find share buybacks and takeovers more costly as the government ruled out tax credits on buybacks and some special dividends on DATE, analysts said, but they are unlikely to stop such moves.
""It should not stop companies doing buybacks or special dividends,"" said PERSON, utilities analyst at ORG, ""those should still go ahead if justified.""
Chancellor PERSON said shareholders would no longer be able to claim tax credits on share buybacks or special dividends associated with share consolidations or takeovers.  
The move is a means of giving the GPE ORG more room for a cut in income tax in its DATE budget, analysts said.
Shares in the utility sector, which has seen a steady flow of buybacks and special dividends both within and outside the context of takeovers, initially slumped on the news but later showed some recovery.
""It was a knee-jerk reaction, slightly overdone,"" said PERSON, utilities analyst at ORG.  
Shares in ORG slid CARDINAL to a low of MONEY before edging back to MONEY at CARDINAL ORG while PERSON was down MONEY at MONEY after slumping to a low of MONEY.
In the electricity sector, ORG stumbled to a low of MONEY before recovering to be down MONEY at MONEY while generator ORG was off MONEY at MONEY from a low of MONEY earlier.
""The market was of the view that release of value from the balance sheets was less likely, but I think that was overdone,"" Lapwood said.  
Water and electricity companies report DATE results in a flood DATE and several had been tipped as likely to offer a buyback or special dividend.
Analysts said the upshot of the government's decision would be to make buybacks more expensive, but the impetus for such moves will not change.
""The logic of a buyback has not changed, it will just be at a premium. And the move on special dividends could make takeovers more expensive, but if it is a good acquisition, it will go ahead,"" said CARDINAL analyst who asked not to be identified.  
Companies are generally reticent about specific plans and several contacted declined to comment on the new tax rules or share strategies.
Analysts suggested that of the water companies, PERSON might consider a buyback while NORP and Thames might consider restructuring the balance sheet.
ORG, PERSON and ORG were singled out as potentially considering special dividends, while the market is still waiting to see such a move from ORG, analysts said.
""It does not really affect the companies, just a group of investors,"" PERSON said.
Those funds affected by the move are likely to change investments to try to avoid any impact, analysts said.
""At DATE it will probably end up roughly equal,"" the analyst said.
""Gross funds will restructure and companies will come out with cleverer mechanisms,"" he added.
-- GPE PRODUCT +44 CARDINAL 7717",0
"ORG said on DATE it expects to record unspecified charges against earnings in DATE on in-process research and development acquired through its purchases of ORG and ORG.
The amounts of the anticipated charges have not been determined, said PERSON, PERSON group vice president, in an interview with ORG.  
The Research Medical charge ""will be substantial,"" Mussallem said. ""When you start talking CARDINAL the transaction value, that's substantial.""
He said the company expects to have a better grasp on the estimated charges by DATE.
Baxter announced DATE it reached a definitive agreement to acquire GPE-based ORG for MONEY, or $MONEY per share, in a stock transaction.
At the same time, PERSON said it expects to close its purchase of PERSON in DATE. Baxter agreed in DATE to buy PERSON for MONEY over DATE.  
The acquisition had been delayed DATE because it was not yet approved by ORG and because of a postponed bond issue related to the deal.
In announcing the ORG acquisition, PERSON, Ill.-based Baxter said in a statement it expects the purchase to be accretive to earnings in DATE.
In the interview, Mussallem said, ""This is not going to be significantly accretive in DATE. It will be more significantly accretive beyond that.""
The acquisition will dilute Baxter earnings through DATE in decreasing amounts with each successive quarter, he said.  
""You're really talking about pennies here,"" he added.
Shares in Baxter, a GPE healthcare products giant, were up CARDINAL to CARDINAL in DATE ORG trading.
A maker of medical devices focused on heart surgery, ORG employs CARDINAL people, mostly at its GPE base. No layoffs or transfers are planned, PERSON said.
ORG chief executive PERSON will stay on with Baxter through a transition. ""We'll see how long it goes beyond that, but we certainly welcome him,"" Mussallem said.
Under the acquisition agreement, ORG shareholders will get shares of Baxter worth $MONEY for each share of ORG. The Baxter stock will be priced as the average of the DATE prior to the ORG shareholders meeting. No meeting date has been set, but is expected to come in DATE.
--Chicago Newsdesk 312-408-8787","NORP fund manager PERSON announced its widely-expected merger with GPE mutual fund company ORG on DATE, creating one of the world's largest investment management businesses.
The combined group will be called ORG and have MONEY under management. The merger values ORG at MONEY, ORG said..
""We are creating a prototype company for the future,"" PERSON, ORG's chief financial officer, told ORG.
But analysts were divided as to the timing of the deal although most were happy to give PERSON the benefit of the doubt as far as its claims on synergy are concerned.
""The deal is exquisitely timed for the ORG shareholders and conversely not so exquisitely for NORP shareholders,"" said PERSON, analyst at ORG.
Cross argues that PERSON is buying at the top of the Wall Street market which many see as having some very stretched valuations. Cross said that ORG strategists are forecasting a PERCENT downward correction on the ORG index DATE which, if it came to pass, would leave ORG looking rather expensive.
But PERSON at BZW was upbeat about the merger.
""It looks rather cheap, I think they've done rather nicely,"" Gibbs said but did add a rider on the possibility of a major correction in the GPE equities market.
Analysts said the price paid by PERSON was something short of what had been predicted but ORG said it was a ""pretty full price but what one might expect for a premium company.""
Invesco shares closed unchanged at DATE ORG chairman and chief executive PERSON, the man who will lead the new group, said it would have ""the scale necessary for success as a financially strong and independent business operating in an increasingly concentrated industry.""
Invesco said it would fund the merger with the issue of CARDINAL new shares to existing holders of ORG shares. These would be valued at MONEY. ORG shareholders will own PERCENT of the enlarged group and be subject to restrictions on selling the shares.
McCullough said the merger, which is conditional on approval by both PERSON and ORG shareholders and other approvals, would be non-dilutive and would not have any cost savings built-in. However, there would be cost savings in the future, he said.
The merger is not expected to be completed before DATE.
PERSON also said the MONEY needed to fund the merger would come in the form of cash and debt, with a CARDINAL-for-CARDINAL rights offering on the cards. This would involve issuing CARDINAL new shares, he said.
McCullough said the cost of the merger was not excessive. ""If you look at it on the basis of funds under management, it (the cost) is PERCENT,"" he said.
""There's no question that it is a lot of money, but we view this as a long-term investment for both of us,"" he said. This long-term commitment was underlined by the fact that PERCENT of the combined shares would be held by management.
The merger presented an enormous number of synergies, with the CARDINAL companies using different distribution channels and approaches. PERSON said he did not forsee any culture clash between the CARDINAL.
There would be no change in their differing approaches, with PERSON continuing to be a ""no-load"" house, selling products direct to the customer, and ORG making its sales through intermediaries.
Both companies were ""really active managers"" and would stay that way rather than moving to passive management, ORG said, adding that PERSON's global infrastructure presented a major opportunity.
He denied the heavy exposure to the GPE would hinder PERSON from making the most of opportunities in other parts of the world. ""We would like nothing better than to find opportunities in LOC and LOC,"" he said.",0
"Rite Aid Corp said it plans to swiftly integrate ORG into its already-powerful company by attacking weaknesses in the regional drugstore chain's distribution and technology.
""To make this acquisition work, we have to reduce costs and we have to reduce costs rapidly,"" Rite Aid chief executive officer PERSON told CARDINAL investors and analysts in a conference call.
In the latest drugstore merger to sweep the industry, PERSON announced plans to buy ORG for MONEY.  
GPE drugstores are consolidating at a feverish pace as the result of pricing pressures and costly computer upgrades that are essential in DATE's world of managed healthcare.
Industry analysts said PERSON has been plagued by a weak distribution system and inefficient technology.
""It is our belief that our technology is a lot more sophisticated than what is being used at ORG and that there are significant benefits that we can bring -- not only to the store operations, but also to the customers,"" PERSON said.  
Analysts expect PERSON to make significant progress reducing the Thrifty PayLess cost structure even though savings will not come from geographic overlap.  Rite Aid does not have any stores in ORG LOC markets.
""No one is as lean as PERSON,"" said PERSON of Midwest ResearchORG.
But the proposed acquisition may create some new difficulties for PERSON, which typically has smaller stores and less varied merchandise than Thrifty PayLess.  Unlike PERSON, Thrifty PayLess sell plants, ice cream and shoes as well as traditional drugstore items.  
Concerns about PERSON move into these new areas sent the company's stock down CARDINAL in TIME trade.
""This is something that is entirely outside their realm of experience.  That is a major question mark,"" said PERSON of Brown Brothers Harriman.
""These are completely different businesses.  These guys are general merchandisers,"" said PERSON of ORG.
PERSON addressed those issues in the conference call, saying that PERSON may add more merchandise experts to assess the different products.  
""There are certain lines of merchandise that we will continue to carry out West that we don't carry back LOC,"" PERSON said.
Shares of Thrifty PayLess, which made its initial public offering in DATE at CARDINAL per share, gained CARDINAL to CARDINAL. Takeover stock traders said the deal values PERSON at $MONEY per share.
The proposed acquisition of ORG seems to eliminate PERSON as a potential bidder for southeast drugstore chain ORG  PERSON has been viewed as a possible bidder for Big B, which is fighting a hostile takeover from ORG
But in announcing the ORG acquisition, PERSON also said that it is pulling out of GPE, GPE and GPE, which are Big B's key markets.","ORG and ORG said DATE they had entered discussions about their rival offers to buy ORG
The CARDINAL railroads did not disclose the specific nature of their talks, but ORG's stock fell on views that the discussions would dampen the prospects of a bidding war for the GPE-based railroad.
A source familiar with the companies said the discussions began DATE, continued through DATE and into DATE.
GPE, Va.-based ORG DATE struck an agreement to buy ORG in a MONEY cash and stock transaction that valued ORG at $MONEY per share. ORG soon launched its own bid of $MONEY cash per share, or MONEY.
Since then, the CARDINAL companies have been locked in a fight over their rival offers and taken the matter to court.
ORG, which said ORG initiated the talks, said the discussions concerned ""a possible sale by the post-merger ORG/Conrail of certain material assets.""
Meanwhile, ORG sought to quell speculation that it would abandon its bid for ORG, saying that it was committed to its offer and has secured MONEY to finance the proposed acquisition.
ORG said the talks were started by ORG, adding that they were aimed at promoting competition.
""Our willingness to talk to ORG at its suggestion is consistent with my previously announced position that ORG cannot be acquired by either ORG or ORG without a plan to maintain a balanced competitive structure for ORG railroad service. While I am heartened by ORG's willingness to discuss these matters, we have no reason to believe that ORG is prepared to accept that reality,"" said ORG Officer PERSON (corrects from PERSON).
A battle for ORG is viewed as being rife with difficulties for all the companies. Although ORG has a higher offer on the table, analysts have said that GPE's corporate takeover law could be an obstacle to its proposed acquisition.
""This is not a good time to be having a long, drawn-out fight. The quicker they get to this, the better,"" said analyst PERSON of ORG.
ORG shares had partly recovered from the early steep fall by TIME, trading down $MONEY per share at $MONEY on ORG. ORG rose $MONEY to $MONEY and ORG gained MONEY, also on the ORG.",1
"PERSON, a computer programmer and cryptographer who was investigated by the GPE government for DATE because his encryption software given away over the Internet was classified as a weapon, is going mainstream with the hopes of making money.
At this DATE's Internet World trade show in GPE, GPE, who has become a hero among the Internet cognoscenti after his battle with the government will unveil his company, a private firm called ORG and CARDINAL security software products for Internet users, aimed at protecting privacy in cyberspace.
ORG's original data scrambling software, also known as encryption software, is already being used by CARDINAL users since ORG first began distributing it over the Net in DATE.
ORG, as the product is called, scrambles electronic mail, which can be unscrambled by the designated recipient.
But ORG's software was so powerful that it attracted the attention of ORG and ORG. Its encryption was stronger (and harder to crack) than the legal limits set by GPE for export and was therefore considered a munition.
DATE, GPE dropped its investigation of GPE, without ever saying what it was investigating, after DATE of intense scrutiny.
""It was like a sword of PERSON hanging over his head,"" said a spokesman for ORG, based in GPE, GPE
Now, as ORG goes from a ""shareware"" model of giving the software away for free, into a real commercial venture, he joined with some heavy hitters in LOC. PERSON, a noted industry analyst, is a founder of ORG, as is PERSON, who founded the ORG trade show. Other executives who recently joined the company include PERSON, formerly vice president of marketing at ORG and PERSON, most recently of ORG..
ORG so far is privately funded, with no venture capital help, even though some venture capitalists offered to become investors. The company has also purchased CARDINAL other small software firms, whose products make a good match with ORG's.
For example, ORG acquired ORG, which was the company ORG licensed ORG software to while he was under federal investigation. Now with ORG's enhancements, ORG is even easier to use and will ""plug in"" easily to popular electronic mail packages, such as ORG PERSON.
ORG, because of its heavy encryption, still cannot be used outside GPE, but it can be used to send mail within GPE and GPE. It has the strongest encryption available, using mathematical algorithms to encode the data that can be as big as CARDINAL bits long, which is considered military-grade.
Currently, GPE allows software with QUANTITY encryption to be exported, but that is only if the users will provide a key to decipher the data.
Pretty Good Privacy will also introduce a product called ORG, based on software from a company it bought called ORG, of GPE, GPE, but now moving to GPE as it merges with ORG, which has CARDINAL employees.
ORG lets a user selectively block the so-called ""cookies"" on the Internet, which monitor his or her Web visits. Cookies are data files which track where a user has been and what the user is doing on the World Wide Web. They are increasingly used by companies and advertisers to monitor and accumulate Internet user data.
Both products will be commercially available DATE.","ORG and CARDINAL regional ORG phone companies said DATE that the CARDINAL ""WORK_OF_ART"" will use ORG's Navigator software as the main browser for their Internet access businesses.
Participating in the deal with PRODUCT were the Internet access units of ORG, ORG, ORG, ORG and ORG..
The move was seen as a much-needed boost for FAC, Calif.-based PRODUCT, which has seen its popular ORG software become the secondary browser to ORG Internet Explorer as the software behemoth made big inroads with the biggest online services.
""DATE, they (PRODUCT) announced a focus on the corporate marketplace,"" said PERSON, an analyst at ORG. ""This is a little reminder from them that they are still a big player in the consumer marketplace.""
DATE, ORG, and ORG have forged deals with ORG to make Internet Explorer their primary Internet browser, and in return the online services have gained a spot on the Windows 95 desktop.
""It's a very good boost of confidence for PRODUCT, which has seen a very large defection from the online services,"" said PERSON, an analyst at ORG in GPE, GPE
Netscape shares jumped MONEY in heavy trading on Nasdaq.
Together, the CARDINAL ORG companies represent a potential market of CARDINAL consumers and businesses in CARDINAL states, including GPE, GPE, and CARDINAL of the nation's CARDINAL largest markets.
ORG said it also has an agreement with ORG and that it will begin offering Internet Explorer as an option to its customers in DATE.
PERSON, president of ORG Internet unit, told reporters in a conference call that the arrangement gives the phone companies a new way to market their Internet services via WORK_OF_ART's Web site. He also said it gives new Net users a way to find another Internet service provider.
But analysts also pointed out that the CARDINAL ORG combined represent under CARDINAL Internet users. ORG GPE still has not yet introduced its Internet service, but said it will do so ""reasonably soon.""
ORG, has the biggest Internet access business of the CARDINAL, with CARDINAL members at last count.
The agreement includes a feature to simplify how computer users select an Internet service provider, or ORG.
Users running ORG would be able to contact their telephone company's Internet service provider through the new ORG feature on WORK_OF_ART's Web site, the companies said. After users enter their area code and phone number, they will be presented with a list of service providers with coverage in their particular area.
PRODUCT said the ORG service will allow people to set up a personal Internet account and establish an Internet connection easily and quickly. In addition, phone company customers would have free access to newspaper and magazine content from the WORK_OF_ART In-Box Direct service, in which personalized publications arrive via e-mail.
WORK_OF_ART is a service recently introduced by NORP to provide information from CARDINAL selected content providers. The company said that since it was launched DATE, its In-Box service has obtained CARDINAL subscriptions.
The ORG feature will be available on WORK_OF_ART's Web site, with its Personal Navigator edition that is sold in stores, and will be bundled with some PCs.
They said future plans include offering the ability for ORG users who choose their local telephone company's Internet access service to have their Internet fees billed directly to their phone bills.",1
"ORG on DATE confirmed that CARDINAL companies had submitted final offers for the mutually-owned insurance group by DATE bid deadline.
High street bank ORG plc and insurers ORG plc and ORG (ORG) must now wait until DATE to find out who has won the fight for control of the hotly-pursued ScotAm.
None of the bidders have taken up the option of making their offers public, allowing the company's board and its advisers PERSON to weigh up the competing bids behind closed doors.
In an effort to deflect criticism of the sealed-bid process ScotAm had agreed to publish details of offers, if asked to do so by a bidder.
But for the moment all CARDINAL seem content to abide by ORG's preference for confidentiality. They have also committed themselves to accepting its decision at DATE as final.
The board's endoresement will go a long way in ultimately securing ownership of the group but does not guarantee it.
The plans must be approved by CARDINAL of those policyholders voting on the board's recommendation (corrects from ""CARDINAL of the CARDINAL policyholders who own the company must approve the choice"") and after widespread criticism of management's handling of both its own plans to float ScotAm and the auction process, its recommendation is likely to come under close scrutiny.
ScotAm, based in GPE in central GPE, has arranged for an independent tribunal to resolve any dispute arising from the the takeover battle and has repeatedly stressed that the interests of its policyholders will be uppermost in its decision.
Those interests are likely to be focussed upon bidders' long-term investment plans rather than upfront payouts and CARDINAL of GPE's main difficulties will be comparing very differently structured proposals.
Independent actuaries and ORGamp; Industry are to be consulted before the final decision is made.
Job security for ScotAm's CARDINAL employees is also likely to play a major part and all CARDINAL bidders have been quick to calm fears of job cuts.
ORG has said it would consider moving its ORG-based ORG business to GPE if it won while both PERSON and the Pru have said job preservation in GPE would be a priority.
ORG, GPE and the Pru are all that are left of CARDINAL companies, including ORG and ORG who DATE signed confidentiality agreements with ScotAm to evaluate the company as a takeover prospect.
The price tag -- widely expected to top MONEY (MONEY) -- has been cited by many companies as the reason for withdrawing from the race with acquisition goodwill likely to top MONEY.
ORG has made no effort to disguise its desire to expand in both the NORP and GPE market and has said it would shift its attention to another target if it were to miss out on ScotAm.
Both the Pru and PERSON have already said that their original proposals might be increased once they had access to more detailed financial detail on ScotAm.
PERSON's original bid was worth QUANTITY MONEY while the ORG's QUANTITY offer included a loan element to bolster LOC's life fund.
Those bids came DATE after FAC had published its own proposals to shed its mutual status and float itself on the stock market.
($ = 0.624 British Pounds)","Wall Street hammered shares of NORP drug giant ORGamp; ORG DATE after it said profits would fall far short of expectations.
The company said it expects earnings of MONEY a share for DATE, equal to DATE results. Analysts had expected MONEY more than that and hit the stock hard after the announcement.
The stock dropped MONEY before trading down $MONEY at $MONEY in late trading on ORG. CARDINAL shares had changed hands by TIME.
The company blamed foreign exchange problems, pricing pressures and weak GPE sales of older products for the shortfall. It also cited a sales force transition and ""the usual short-term disruptions seen in a multinational merger.""
Pharmacia & ORG was formed by the merger of GPE's ORG and GPE, DATE ORG It formally began operations in DATE.
""This clearly indicates that the merger is not going as smoothly as hoped. I think this is a wake-up call,"" said independent pharmaceuticals industry analyst PERSON.
With few new high-margin products expected out of the pipeline for DATE, ORGamp; ORG had been hoping that the merger would produce cost savings and other synergies that would help it through the dry spell.
""The problem is, they're not realising synergies as they thought they would,"" said ORGamp; GPE analyst PERSON.
""They were hoping that through this merger they would realise synergies to ride this out ... We just don't know if they can do it,"" Lisi said. ""They'll get through DATE, but it's going to be ugly.""
Pharmacia & ORG Chief Executive PERSON said the merger is producing benefits, including a CARDINAL person reduction in the work force to date. The company also said it continues to expect MONEY in cost savings by DATE.
Earnings for DATE are expected to top DATE levels, buoyed by CARDINAL new drugs, ORG for glaucoma and Camptosar for cancer, the company said.
But analysts were uncertain about the near-term outlook and said the company offers no firm guidance for DATE.
""There's a cloud over DATE,"" said ORGamp; ORG analyst PERSON.",0
"Falling world metal prices have spooked NORP aluminium traders who said on DATE up to QUANTITY of the metal was sitting in NORP ports, having been ordered by consumers who now want to pay the lower prices.
""A lot of people have aluminium stuck in GPE,"" a trader based in GPE with a NORP firm said.
""There's QUANTITY that I know of,"" he said.
Another industry source in GPE said CARDINAL to QUANTITY of aluminium was stuck in GPE and the nearby south NORP port of GPE, having been destined for NORP end-users who refused to pay for it.
NORP trading companies have earned poor reputations in DATE for reneging on deals when world prices of the commodity they are buying fall between the date the order was placed and the date of its arrival.
Metal traders in GPE and GPE said they had been waiting for news of distressed cargoes as they watched prices fall.
Another trading source said figures of QUANTITY of distressed aluminium were believable given the amount in GPE and GPE, as material was also being shipped to other ports such as GPE and GPE.
""People will stop selling to GPE until the price goes up again,"" he said. ""And the price won't move up again until the ORG (ORG) stocks fall. There's just too much there.""
On top of this has been a general slowdown in metals business to GPE, traders said. None polled by ORG saw business improving before DATE.
Latest LME figures show aluminium stocks at QUANTITY. The ORG's aluminium price has been hitting long-term lows in DATE.
Prices picked up from CARDINAL-year lows on DATE as news emerged that some NORP smelters were considering cutting production.
ORG DATE aluminium ended at US$MONEY a tonne, not much different from DATE but firmer than before the news and somewhat above a low hit on DATE of $MONEY.
DATE, the price was $MONEY.
""Some people are forecasting the price will move to $MONEY,"" another GPE trader said. But he added: ""There is good support at the $MONEY level.""
ORG warehouses in GPE had plenty of metal, he said, but it was commanding a premium over the ORG cash price of MONEY, and ocean freight rates to GPE were $MONEY a tonne.
""This is the main problem -- no trader can afford it. No one can afford it,"" he said.
NORP consumers were mostly buying hand-to-mouth, waiting for prices to reach rock-bottom, traders said.
""Once the price starts to move up again they will buy, because they will see the bottom has been hit,"" the NORP trader said.
Traders said world metals markets would probably spend DATE defining a direction for DATE, when fundamentals should begin to play a role in firming the price.
Latest GPE indications of premium or discount in US$/tonne over ORG cash prices on a CIF basis:
					Oct CARDINAL	  Oct 7
    COPPER			 CARDINAL	   CARDINAL
    ALUMINIUM  Western	 30-70	   CARDINAL
		   CIS		 N/A	   CARDINAL
    LEAD (NORP brands)	N/A	   N/A
	   (ORG registered)	N/A	   CARDINAL
    ZINC			     N/A	   CARDINAL
(MONEY)
-- GPE newsroom (CARDINAL) 2843-6470","GPE's banking sector crisis brought repeated calls for an upgrade of LOC's immature financial infrastructure at ORG meeting on DATE.
""LOC needs a stronger, more dynamic financial infrastructure,"" IMF managing director PERSON told the conference on financial integration in LOC.
The region's banking system has not kept pace with its economic development, and the speedy pace of economic reform has created an urgent need for an overhaul, delegates said.
""In many countries, in LOC and elsewhere, prudential regulation and supervision have not kept pace with the new complexities of the banking business,"" Camdessus said.
""If left unaddressed, this gap could pose dangers for domestic and external stability. Indeed, all countries must be vigilant about the strength of their banking systems, so that the monetary authorities can tighten policy when needed, without fear of aggravating banking sector problems.""
Asset quality problems forced GPE to intervene DATE to demand better provisioning by its banks.
GPE was hampered in dealing with the situation by its monetary policy. Its currency, the baht, is pegged to a basket of currencies dominated by the dollar, but was under pressure from speculators who were encouraged by GPE's poor economic picture and weak financial sector.
Lower rates would have eased liquidity -- but would also have lowered the cost of borrowing for currency speculators.
Higher interest rates to ward off the speculators would have increased the cost of borrowing for the cash-strapped banks.
While most speakers stopped short of calling for regional banking regulation and supervision to prevent the same situation occurring elsewhere -- an idea mooted by GPE recently -- some experts recommended frequent and regular gatherings of central bankers and finance ministers.
""Most countries need to take steps to strengthen the official supervisory oversight of financial institutions and markets,"" said PERSON, managing director at ORG and a former president of the GPE and member of ORG.
Key to the debate are capital inflows, which have widened current account deficits across LOC with serious implications for external balances and interest rates.
PERSON warned that while many NORP nations with wide current account deficits have taken comfort from large foreign exchange reserves, the capital inflows responsible for much of their foreign exchange can evaporate TIME.
""Deregulation has also led to a greater exposure of credit and foreign exchange risk, and increased the danger of banks being inadequately capitalised with consequent incentives to offer above-market interest rates and engage in less prudent lending,"" said PERSON, a senior economist with the IMF.
The situation is becoming more urgent as more and more nations in the region seek financing for the sort of huge infrastructure projects on which their future depends, he said.
""The challenge is for many of these countries to address their infrastructure needs, including environmental requirements, without putting undue strains on public finances or on external positions,"" ORG said.
Although many NORP nations have successfully raised capital through privatisations, the amount of capital raised through privatisation in LOC was relatively small compared with LOC, he said.",0
"The NORP crown firmed on DATE to its highest level against its mark/dollar basket, buoyed by Prime Minister PERSON' comments that devaluation was not needed despite a widening trade gap.
By TIME the crown moved to PERCENT above its DATE parity rate set by ORG (CNB) against the dollar/mark basket from a PERCENT level in the morning.
The crown stood at CARDINAL to the dollar and CARDINAL to the mark at DATE ORG.
The CNB followed the market up, fixing the crown PERCENT above parity with the basket after +3.9 percent on DATE.
Dealers said the crown could challenge PERCENT against parity before levelling off to end DATE.
""Probably we will attack PERCENT (over parity),"" ORG, dealer at GPE's PERSON, told ORG.
Although the NORP trade balance DATE showed a record DATE deficit in DATE of CARDINAL crowns, the market was encouraged by ORG's comments.
""The ORDINAL (reason for the crown's rise) is ORG's comments in GPE,"" ORG said. ""Another reason of course is the following of the market by the central bank at the fixing.""
At an economic conference in GPE, ORG backed the CNB's Governor PERSON view that a stronger crown would be better for the economy in the long-term.
""We think that a devaluation is not necessary and that it wouldn't be useful,"" ORG told ORG.
While some economists have recommended devaluing the crown to help the trade situation, many said it is not fundamentally necessary as capital inflows remain strong and the balance of services, especially toursim, softens the current account gap.
The NORP currency last dipped below the parity rate against the basket in DATE, soon after elections stripped ORG's conservative coalition of its majority in parliament and strenghthend the hand of the opposition NORP.
But since then, the NORP currency has been on a steady march up, ORDINAL hovering PERCENT against the basket, then surging after PERSON's comments DATE.
Klaus was finally able to form a minority government of his centre-right coalition while the centre-left NORP have been concilliatory on economic issues, including a QUANTITY cut in spending to balance this DATE's budget.
Dealers said positive preliminary results on DATE for DATE's industrial production, showing a moderate recovery from disappointing DATE figures, also helped the crown.","NORP pundits once looked at DATE ORG elections as a possible beacon to cut through the political fog created by indecisive DATE lower house elections.
What is clear after the CARDINAL-round vote completed DATE is only that many Czechs do not care about the ORG.
Prime Minister PERSON and his centre-right coalition spent most of DATE proclaiming that the results, in which the CARDINAL parties won CARDINAL of CARDINAL seats in the newly created ORG, provided a strong mandate for the minority cabinet.
Klaus panned a DATE headline in the DATE FAC calling the results in thin turnout a political ""draw"".
""(A draw) would be if it happened that the opposition won also in the ORG,"" he said in a debate on NORP Television. ""That draw has been avoided.""
ORG's conservative ORG alone won CARDINAL seats despite having a potential of winning CARDINAL seats going in to the run-offs. Only a stronger-than-expected showing by the CARDINAL junior partners gave the coalition control of the ORG.
The opposition NORP, led by lower-house chairman and ORG arch-rival PERSON, mustered CARDINAL ORG seats after their strong DATE-place showing moved NORP politics from centre-right domination into cohabitation.
With voter turnout a paltry PERCENT, it would be hard to argue that the ORG vote did much to alter NORP politics. Nor did it give a signal that the coalition might have enough support to seek new lower house elections.
""The result does not mean any move toward early elections... They would probably end in a draw,"" said political analyst PERSON of GPE's ORG.
Klaus said that the vote confirmed that what the country needed was a functioning government, not new elections.
What the results primarily mean is that ORG and his allies simply gain control of the upper house, which will be mostly a talking shop with few legislative powers.
But they are CARDINAL votes shy of having a majority in the more powerful lower house, and the opposition could scuttle the legislative agenda of the coalition which remains as ORG last centre-right government.
PERSON, an eastern LOC analyst at the independent research house ORG, said investors would welcome the relatively meaningless result for not giving any more power to the more interventionist NORP.
""With the win there wil be certainly no added complications in getting (ORG's) legislation through, and that's good news for stability, and it does mean that elections can be delayed until DATE perhaps,"" PERSON told ORG.
He said however that the ORG result might cause ORG to sharpen his tactics against the government to draw deeper distinctions before any new elections might be called.
The biggest loser might be President PERSON who fought to give the ORG life after it was built into the DATE constitution adopted after the split of GPE, despite early moves by ORG and others to block its creation.
Before the ORDINAL-round vote, the politically neutral ORG called on his countrymen to turn out in force after PERCENT voted in DATE ORDINAL round.
His pleas were ignored.
On DATE, ORG told NORP radio from his DATE retreat that politicians waged an ""anti-campaign"" against the creation of the ORG, and let pre-election partisan bickering take the place of discussing the choice of intelligent individuals.
Havel argued that after a few more elections, Czechs would come to realise that the ORG was important as the house of last resort in case of a constitutional crisis.
""The ORG is not dispensable,"" he said on DATE.",1
"ORG spelled out its blueprint for export growth DATE, seeking to silence critics of its strategy who have contributed to driving down the shareprice by PERCENT since its Oct 1 demerger from ORG.
ORG's chain-smoking chief executive, PERSON, who joined the company after graduating from ORG in DATE, told ORG in an interview that investors should not under-estimate his determination to expand exports fast.
""Admittedly we were a late entrant to international markets. But that's because we had to get our costs licked,"" he said.
Getting costs licked helped make ORG CARDINAL of the most efficient players in its sector in DATE under ORG's ownership, with productivity raised by PERCENT in DATE.
PERSON sees it continuing to grow by PERCENT over DATE, he said.
But recently ORG has seen its shares slide, partly due to concerns that most of its profits (PERCENT) stem from a shrinking NORP market. Analysts are asking how ORG can invest in export growth while cutting back its sizable MONEY (MONEY) in debt.
ORG and ORG issued sell notes on ORG DATE. But ORG said it was undervalued, citing its efficiency and greater attraction as a bid target over Gallaher, the ORG GPE unit due to be demerged.
PERSON sought to answer the critics DATE. ""The priority is to get it (debt) down. Our situation, our ability to generate cash means we can do things in parallel -- pay down debt and pay for acquisitions."" Bolt-on acquisitions are likely in cigars.
Expanding on his growth plans, he said ""We have already grown profits with little dilution of margins. Our strategy to grow is very much a multi-pronged route.
""We roll out our NORP brand success in GPE to GPE and GPE as well. We continue to follow the NORP into key holiday and work markets abroad. Keep developing the hand rolling product, seek bolt-on acquisitions and develop in selected emerging markets.""
He said these key markets in LOC and GPE already had a preference for the GPE style of cigarette, a plain unflavoured tobacco variety which is ORG's strength.
""We're not a ORG or B.A.T(BATS.L. We're not a major global player and we don't see this as a head-on collision. These markets are so massive that even developing a small part of it will have a big impact on our profits.""
The company has already set up a base in GPE, with a senior marketing recruit from ORG cigarettes. It is establishing CARDINAL bases in GPE and has a technical co-operation agreement with GPE's state tobacco company.
It is focused on developing in GPE, GPE, GPE and GPE. ""More specifically, the group is in talks with CARDINAL party in GPE about entering that market for the ORDINAL time. This deal is likely to be a distribution agreement.""
The group said it will seek joint ventures and distribution deals in these emerging markets.
ORG is already gearing up to cope with a possible surge in production at its ORG plant in GPE.
Company bosses clinched a deal with unions to add a ORDINAL shift from DATE onwards, which could allow capacity to be raised by CARDINAL to CARDINAL cigarettes from CARDINAL.
PERSON has pledged shareholder value through expansion. But if cash builds up and there are no buying opportunities the company will consider a share buy back.
ORG's boss is sanguine about the roller coaster ride for its shareprice since demerger. Its strong debut lit up the tobacco sector, taking ORG to a high of MONEY per share. But it has since fallen back to MONEY.
He cited ""overheating in DATE, with rumours of a dawn raid (on shares) that never happened."" He also cited some selling of shares by GPE retail investors, but said the holdings were eventually soaked up by GPE institutions.
""There'll be a wee bit of volatility for a while longer,"" said PERSON who sees a truer value at MONEY and CARDINAL.
($MONEY Pound)","The story of NORP sounds like the daring fiction of a PERSON movie -- with corporate giants from GPE, GPE, GPE and GPE joining forces to build the ultimate in space technology, firing satellite rockets into space from LOC.
The cost is MONEY (MONEY), funded by a consortium of CARDINAL companies, joining the LOC and LOC in a deal that claims it can undercut the cost of land-based launchers including the NORP-led Ariane, recently embarrassed by a rocket explosion, and ORG.
The lead NORP investor is ORG ORG division, holding PERCENT, with ORG of GPE taking a PERCENT slice, GPE's PERSON with PERCENT and ORG of GPE holding PERCENT.
At a sneak preview in GPE recently, PERSON, NORP project manager from PERSON, joked with NORP reporters that countries that had once built technology with conflict in mind were now united in their quest for profit.
""In the name of detente,"" he said.
GPE's PERSON is the prime contractor, building the mobile seaborne rocket launch platform and the command ship.
It rescued an off-shore oil rig, which had been severely damaged in a DATE explosion, and rebuilt it to become a floating rocket launcher that will operate under remote control from a specially built command ship.
The platform is nearing completion at NORP in GPE, with the command ship under construction and ready for launch DATE at GPE in GPE.
The ORDINAL rocket launch is scheduled for DATE from a site in LOC.
Satellites and rockets will be assembled on the ship for transfer to the platform, which will be evacuated before liftoff.
The command ship will press the control button for firing the rocket at a distance of QUANTITY. The QUANTITY ship has the added protection of blastproof safety glass.
The NORP will provide the GPE rockets, chosen because they can be assembled horizontally on board the command ship.
ORG will provide project management, marketing services and run the operation for liftoff.
Asked about the risk of explosion PERSON said, ""The risk of explosion is very much related to this business. But we think that risk is very low. There are built-in safety features and it's a very sound operation from an insurance point of view.""
Ignition to release of the rocket takes TIME, with emissions from the rocket on takeoff channelled sideways.
""If the emissions didn't go sideways, the pressure could shift the platform,"" he said, which weighs QUANTITY.
Confidence in the system, a world-first, has been demonstrated by a rash of early contracts.
PERSON and ORG of GPE has CARDINAL launches signed. ORG, also from GPE has CARDINAL booked.
The groups involved have refused to comment on how much they will charge per launch or on potential profits, with PERSON's PERSON only stating that its slice will be ""a good return on our investment.""
It will be able to fire CARDINAL rockets a year. The idea was originally conceived by ORG, which had intended to fire satellites from a supertanker.
But the danger involved made the platform idea more appealing, allowing evacuation before blastoff.",1
"ORG, the world's largest construction and mining equipment maker, DATE reported record DATE profits of MONEY, up PERCENT from MONEY DATE.
Sales jumped to MONEY from MONEY, while earnings per share rose PERCENT to $MONEY from $MONEY.
The results exceeded expectations on Wall Street and ORG stock jumped MONEYMONEY on ORG. Analysts had forecast profits of $MONEY a share, according to ORG, which tracks earnings estimates.
For DATE, sales were MONEY, up slightly from MONEY DATE, while profit surged to MONEY from MONEY.
""There really wasn't much of a sales increase but there was a tremendous bottom-line increase,"" ORG Chief Financial Officer PERSON said in a telephone interview. Most of the earnings gain was due to improved operations, though some was currency related, he said.
Profit margins rose to PERCENT in DATE from PERCENT DATE, primarily due to higher prices, stronger volume and the effects of a stronger GPE dollar, ORG said. Price gains were seen equally inside and outside GPE, ORG said.
Continuing improvements in manufacturing and essentially flat material costs also helped boost profits but were partly offset by an unfavourable product sales mix, the heavy equipment maker said.
The sales mix in DATE shifted more toward lower margin smaller machines, ORG said, but he added that this mix shifts DATE and DATE.
""The thing that's encouraging is the gross margins remain strong,"" said PERSON, analyst at ORGamp; ORG ""It looks like the productivity gains they talked about in DATE are continuing""
Higher machine sales in GPE accounted for most of a PERCENT increase in sales volume in DATE, ORG said.
But deliveries to GPE dealer rental fleets fell from DATE as rental inventories remained high, the company said.
Machine sales in LOC fell due to declines in GPE and GPE, where the contruction sector remains weak, the company said. Sales in GPE, GPE, GPE and LOC were up, while sales in GPE were unchanged and sales fell in the former GPE.
The company also said it expected DATE sales to be up slightly from an expected record in DATE, while it expects DATE profits to exceed the MONEY reported in DATE. The current record for sales is MONEY, set in DATE.
""Our preliminary outlook for DATE is to slightly surpass the record levels achieved in DATE,"" Chairman PERSON said in a statement.
""We continue to see opportunities for solid growth in the vast majority of the global markets we serve, particularly in the fast-growing developing nations where infrastructure needs are greatest,"" ORG said.
Higher industrial demand in developing regions, GPE and GPE are expected to offset slightly lower demand in GPE, LOC and GPE, the Peoria, Ill.-based company said.
""The outlook statement surprised me on CARDINAL levels,"" PERSON said. ""It talked about slightly higher sales but not higher profit. I thought that was deliberate.""
She also said that while sales gains outside GPE, LOC and GPE are expected to offset lower demand in those areas, ""it's not clear to us that it makes up for (those areas) on the profit side.""","ORG said DATE it is prepared to unilaterally impose employment terms, effective DATE, on employees represented by ORG after declaring an impasse in talks with the union.
The impasse revolves around the firings of some union workers before and during the DATE strike against the Peoria, Ill.-based heavy equipment maker that ended in DATE without a new contract.
ORG is willing to have firings after the strike sent to arbitration, but not those before and during the walkout.
The terms ORG said it will impose at its CARDINAL ORG-represented plants in GPE include a pledge not to close any faciltities except the company's GPE, GPE, plant through DATE, and job guarantees through that time period. ORG has CARDINAL manufacturing plants in GPE.
""We are taking this step to provide our employees with an added sense of security about their future, while giving ORG the labor costs and the flexibility we need to keep jobs in the GPE and keep our U.S.-made products competitive around the world,"" ORG Vice President PERSON said in a statement.
Other terms include a PERCENT increase in ORG's supplement of pensions for retirees until they become eligible for ORG, an average increase of PERCENT in pensions and a doubling of potential incentive pay, ORG said.
ORG's ORG workers have been working without a contract since DATE. A DATE strike against the equipment maker ended in DATE without a resolution of contract issues.
The ORG said DATE it does not agree that it has reached a lawful impasse with the company that makes it necessary for the terms to be put into effect.
""This tactic is yet another attempt to subvert the collective bargaining process,"" ORG Vice President PERSON said in a statement.
The union said it will pursue the appropriate legal remedies if the company takes action to implement employment conditions without the existance of an impasse.
CARDINAL analyst said the impasse declaration by ORG appears to be genuine, not just a bargaining ploy.
""I don't think this is really a bargaining move,"" said PERSON, analyst at FAC. ""It's just an obvious impasse.""
He also said he did not expect the move to affect the stock, noting that strikers returned to ORG DATE without an effect on the company's profit margins.",1
"Financial services and property group ORG on DATE unveiled a move into the NORP pensions market in ventures involving ORG and pension fund management group ORG.
Liberty is establishing its own pensions company, ORG, which will target both the needs of money purchase pension schemes and retail pensions.
ORG, which owns GPE, is to pay MONEY (MONEY) for PERCENT of the equity of ORG, with the rest held by NORP.
Liberty and ORG said in a joint statement they were also setting up a new subsidiary called ORG to offer specialised investment services to the NORP pensions industry, with Hermes as fund manager.
ORG is giving the ORG joint venture ""critical mass from the outset"" with a QUANTITY transfer of assets to the new funds, ORG's chairman PERSON said.
PERSON said PERSON was ""well positioned to take advantage of the changes affecting the GPE pensions industry."" Hermes' expertise in investment management and track record would help it to provide quality and competitively priced pension services.
PERSON, PERSON's managing director, said ORG still required approval of GPE's ORG but was otherwise ready for launch.
Hermes called the joint pensions venture a meeting of minds.
""Liberty has the ability and techniques of selling pensions, it also has the systems...and the administration. We on the other hand are good at our particular core areas of investment management...we think that's a very good marriage,"" PERSON PERSON, chief executive of GPE, said.
PERSON said ORG had approached ORG only to find the group had been considering an approach to Hermes.
""It really was a meeting of minds on this. Whether it develops further from this we shall see. I think CARDINAL step at a time is quite enough for us.""
He said the venture would probably not be up and running until DATE as regulatory approval ORDINAL had to be obtained for the new group.
The decision by the giant ORG to transfer assets to the new ORG funds would give the new venture a boost.
""I would hope it gives some people some feeling of security that ORG, which is after all the biggest in the country, is willing to do this,"" he said.
Liberty plans to sell personal pensions at its regional shopping centres, which are held through a majority-owned subsidiary ORG. These have CARDINAL customer visits DATE, ORG said.
Fischel said an announcement would be made on exactly how the retail customer business would work at a future date, adding he could not give details at present. ($MONEY Pound)","PERSON, the leading telephone group in the NORP speaking world, on DATE dismissed concerns that new rivals would force its prices and profits down and said it saw robust growth.
""The wind is behind us. The growth is there,"" PERSON, PERSON's new chairman and chief executive, told ORG in an interview in GPE.
The MONEY company, which serves a market of MONEY customers mainly in GPE and LOC, faces its ORDINAL home competitor in the form of state broadcaster ORG DATE.
The NORP government, which also plans to float the last PERCENT tranche of GPE DATE, will award a ORDINAL licence in DATE, completing telecommunications liberalisation by DATE.
GPE, DATE, who joined GPE's biggest company in DATE, insisted that the firm would weather the uncertainty of rivals moving into its markets by streamlining businesses and riding on a wave of increased demand -- especially for mobile telephones.
GPE's mobile telephone market was growing faster than any in LOC and in DATE, penetration would jump from PERCENT, he said.
Double digit growth is also expected in LOC. In GPE, it is forecast to rise to PERCENT from PERCENT, GPE will see growth of PERCENT from a current PERCENT and growth in GPE will jump to PERCENT from PERCENT.
""Obviously we will lose market share (through competition) but this will be compensated for by the growth of the market and an increase in efficiency,"" PERSON stated.
PERSON plans to slash its CARDINAL-strong workforce in GPE by CARDINAL over DATE.
PERSON has been long hailed by analysts, who have called it both ""CARDINAL of the best stocks in GPE"" with a rising income stream and falling financial costs and ""one of the best strategically positioned operators in LOC"".
Villalonga thanks what he calls the company's ""unbelievable track record of success"" for its strategy of breaking into new markets by taking minority stakes, keeping the old management and linking up with ""very, very strong local partners"".
Analysts say PERSON's robust DATE profits in DATE confirm PERCENT earnings growth estimates for DATE -- a ORDINAL year of high growth.
But rather than a CARDINAL-off to impress prior to the final sale of government stock, analysts such as brokers ORG say they believe the company is more than able to sustain high earnings growth and say the shares, that have surged PERCENT since DATE, should be bought MONEY.
The stock ended trade at MONEY on DATE.
There have been delays in releasing details about the impending flotation of the state's last CARDINAL ORG shares -- at current share prices worth MONEY (MONEY). GPE's financial media is tipping a PERCENT of the total offer will go to retail investors.
While PERSON declined to comment on the sell-off, newspapers say PERCENT of the offer will be put aside for NORP institutional buyers, with the rest going to foreign institutions.
ORG, global coordinator for the international tranche of the offer, argues that competition will take longer to become a harsh reality than suggested by the official ORG DATE timetable and in the meantime investors face ""DATE more of nice, fat cash flows"".
But the broker noted recently: ""We think we are right on this, although we are becoming distinctly more nervous.""
($MONEY Peseta)",0
"Freight forwarders in GPE say they have been warned that there will be a PERCENT increase in transpacific air cargo rates from the territory when the peak season starts on DATE.
PERSON, vice-chairman of the CARDINAL member ORG (HAFFA), told ORG that the PERCENT increase in the run up to Christmas was not surprising.
""I think it is fair and in line with expectations,"" PERSON said.
He added it will apply to cargo destined for both the GPE east and west coasts.
Warning notices had been received from the major transpacific carriers including ORG, ORG, ORG, ORG, ORG and ORG, PERSON said.
-- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017","GPE, GPE Nov 5. (Reuter) GPE's flag carrier and largest airline, ORG is planning to restart flying to GPE DATE, PERSON, general director of the airline's advertising division said
The GPE, GPE service would be ""at least twice DATE"" and use a ORG PRODUCT or ORG PRODUCT, PERSON stated.
GPE used to be part of the network but was stopped DATE. Speaking through an interpreter, Zhang said it would be ORG ORDINAL service to the GPE after GPE and GPE.
Zhang was speaking on DATE of GPE's ORDINAL official air show held at the showpiece GPE airport QUANTITY across the LOC delta from GPE. Another major NORP airline, ORG, also confirmed at the show that it too was planning to start a GPE service in DATE.
Zhang also said ORG was expecting to soon announce a new service from GPE, GPE and GPE to GPE and GPE. He could give no further details.
A recent ORG report said ORG planned to open both the GPE west coast and NORP routes DATE. No reason was given by Zhang for the apparent delay. - Air Cargo Newsroom Tel+44 171 542-7706 Fax+44 171 542-5017",1
"With the strike against ORG in GPE headed for DATE, the automaker's losses will start mounting as its GPE plants are forced to shut down, delaying the launch of important new models, analysts said DATE.
The walkout by ORG union is set to spread to CARDINAL key components plants in GPE, DATE at TIME, which could cause the ORDINAL shutdowns of ORG's GPE assembly plants by DATE. Much of ORG's core NORP automotive business could be crippled in DATE if the strike is not resolved.
""Once you start shutting assembly plants, the other plants start shutting very quickly,"" said PERSON, an analyst at ORG, an automotive consulting firm in GPE, GPE
The expected ORDINAL casualties will be ORG's ORG luxury car plant in GPE, GPE, which uses trim components made in GPE, and ORG's small and mid-size car plants in GPE, GPE, GPE, GPE, and GPE, GPE, which use transmissions from Windsor.
The GPE plant is in the midst of launching CARDINAL important new mid-size sedans, the DATE ORG Malibu and ORG Cutlass.
The cars, slightly smaller than the ORG PRODUCT and expected to be priced in the $MONEY range, could help ORG regain a sizeable piece of the mid-size car market, a segment it once dominated.
ORG also is launching an all-new ORG sedan and a trio of new minivans that are viewed as the automaker's ORDINAL serious challenge to ORG dominance of the segment.
Analysts said the NORP strike, if it continues, will wreak havoc on the production and marketing launches of the products and hand market share gains to ORG, ORG and import manufacturers. The only new car to reach dealers in significant volume has been the Grand Prix.
""There was some very strong opportunity for them to gain share with some of the new vehicles,"" PERSON said. ""This will push back their launches.""
ORG auto analyst PERSON estimates that a DATE NORP strike will cost ORG MONEY in profits. A DATE strike at CARDINAL GPE, GPE, parts plants in DATE reduced the automaker's DATE profits by MONEY.
But Wall Street analysts maintain the costs, both in profits and lost market share, are worth it if ORG can retain the right to shift parts work to outside suppliers and sell unprofitable plants.
ORG analyst PERSON said investors would be extremely disappointed if ORG caves in to ORG demands to restrict outsourcing.
""They've got to do whatever it takes to get competitive,"" he said. ""They cannot be focused on short-term considerations of market share.""
He also noted that with MONEY in cash reserves, virtually no debt and a fully funded pension plan, ORG is in a strong position to take a longer strike. ""They aren't the financial cripple they were in DATE,"" he said.
PERSON, an automotive manufacturing consultant based in GPE, GPE, said he believes ORG is finally determined to retain control of its sourcing decisions.
""This is a battle for the right to run their company,"" PERSON said. ""It's going to be a long cold DATE.""","Stagecoach, the NORP bus and rail group which has seen its shareprice grow fivefold in DATE, saw its stock hit a record high on DATE after posting a bumper PERCENT rise in DATE profits.
The NORP-based group which has enjoyed explosive growth since its flotation in DATE, said DATE pre-tax profits climbed to a record 47 million pounds (MONEY). DATE dividend rose PERCENT to MONEY a share and group turnover leapt to MONEY from CARDINAL.
Chairman PERSON called the results excellent.
Shares in GPE were up MONEY at CARDINAL by DATE ORG, leading a fleet of other bus companies higher in its wake. ORG rose MONEY to CARDINAL and ORG added MONEY to 396p.
""It's good news all round. The profits are CARDINAL above what I expected. We're upgrading our year forecast by CARDINAL to 97 million pounds,"" said ORG analyst PERSON.
The results were the ORDINAL since the group's high profile acquisitions of NORP rail rolling stock company ORG bus group ORG.
""The integration of GPE and ORG is proceeding and I am confident of a successful outcome,"" said PERSON.
Porterbook and the bus operations were the real driver behind the growth in profits. The figures were also flattered by a CARDINAL-off gain of MONEY from the sale of a PERCENT stake in ORG. This was reflected in DATE payout.
PERSON's profits were better than expected at MONEY in DATE since it was acquired.
""That's CARDINAL profit a week on operating profit margins of PERCENT,"" said PERSON.
Stagecoach finance director PERSON said operating profits would ease slightly in the latter part of DATE as the company took on ""on-going expenditure for maintenance"".
He forecast Porterbrook would still perform strongly, although margins would not be as high as in DATE.
Total sales in the bus operation rose to MONEY against CARDINAL, yielding profits of CARDINAL versus CARDINAL.
NORP, a new business, saw sales of MONEY and profits of QUANTITY.
Porterbrook sales were MONEY, with CARDINAL profit and ORG sales came in at CARDINAL, with QUANTITY in profit.
Stagecoach, which started out as a brother and sister team in GPE, was floated in DATE at MONEY a share. The share price has doubled DATE. ($MONEY Pound)",0
"ORG closed mixed in heavy trading on DATE, but its key index managed to stay above to the CARDINAL point mark.
The TSE 300 Composite Index closed CARDINAL points lower at CARDINAL, after falling CARDINAL points earlier.
On the broader market, advancing stocks outnumbered declining ones CARDINAL to CARDINAL. Another CARDINAL traded unchanged.
""These markets are holding up really well,"" said ORG private client strategist PERSON. ""The fact that GPE held on to big gains is very powerful.""
The ORG CARDINAL Index gained CARDINAL points DATE.
Trading volume was CARDINAL shares worth MONEY (MONEY).
The activity was surprisingly heavy since analysts had expected trading to fall off after ORG closed early for EVENT long weekend.
Best expected further gains for the ORG as DATE approaches and NORP think about buying mutual funds for their registered retirement savings plans.
CARDINAL of GPE's CARDINAL sub-indices ended higher, led by conglomerates, media, transport and real estate. But the key index was depressed by soft bank stocks and a weak gold sector which lost PERCENT.
Among the hot stocks, the bank stocks suffered profit taking after strong gains DATE on record DATE earnings. ORG fell C$MONEY to close at C$MONEY. ORG dropped C$MONEY to C$MONEY on CARDINAL shares.
PERSON lost C$MONEY to end at C$MONEY on CARDINAL shares as it continued talks with ORG said on DATE it expects to strike a deal with ORG over the GPE gold deposit DATE. PERSON shares fell C$MONEY to C$MONEY on CARDINAL shares.
Copper and base metals miner ORG gained C$MONEY to reach C$MONEY. ORG sold its minority stake in CARDINAL block of CARDINAL shares.
ORG rose C$MONEY to C$MONEY in active dealings.","ORG closed weaker in heavy trading on DATE, hit by plunging gold stocks and a sell-off on Wall Street.
The ORG's key CARDINAL Composite Index lost CARDINAL points to finish DATE at CARDINAL. The Dow Jones Industrial Average in GPE fell CARDINAL points to CARDINAL, its largest loss in DATE since a CARDINAL-point drop in DATE.
GPE was also dragged down by its heavily weighted gold index, which fell PERCENT in DATE of a retreat.
""A dominant theme in NORP markets DATE is gold,"" noted RBC Dominion Securities analyst PERSON.
Turnover was brisk at CARDINAL shares worth MONEY (MONEY), GPE's ORDINAL highest trading value ever.
Analysts said Wall Street was submerged under a wave of profit-taking as investors decided to lock in profits and sell some stocks following recent gains.
All of GPE's CARDINAL sub-indices lost ground except for media and transportation. PERSON led the weaker side, followed by conglomerates, base metals and utilities.
Gold stocks fell after bullion prices slipped in both GPE and GPE.
Declining issues beat out advancing ones CARDINAL to CARDINAL. Another CARDINAL traded flat.
More losses may be seen ahead because investors will sell poorly-performing stocks to realize tax losses after DATE, said PERSON, fund manager and ORG president.
""They usually plan on liquidating during this period of time, so they offset the gains they booked earlier in DATE,"" PERSON said.
Shares in ORG, halted at DATE, were active DATE. Earlier the stock rose MONEYMONEY on CARDINAL shares before the gold prospector announced it increased the resource calculation of its GPE gold discovery in GPE by QUANTITY of gold to QUANTITY.
ORG is still in the midst of negotations with ORG over ownership of the deposit. The NORP government set a DATE deadline for a deal between the CARDINAL.
ORG and other miners said said they would challenge PERSON for control of ORG discovery by pressuring the NORP government to allow competing offers.
However the NORP government said on DATE it was expected confirmation DATE of a deal between ORG and PERSON. It did not mention other potential partners. ORG fell MONEY and ORG dipped MONEYMONEY.
ORG surged C$MONEY to end at C$MONEY. The fertilizer firm told clients it planed to riase domestic potash prices in DATE.",1
"ORG and ORG plan to annouce DATE a deal in which ORG will license Fore's high-speed networking technology for use in future versions of its PRODUCT operating system software, according to sources familiar with the deal.
PERSON (ORG) is an emerging technology on which a new generation of higher speed networks are being built that are better able to handle voice, video and data simultaneously.
The sources said the deal will integrate Fore's ORG emulation software directly into the Windows operating system, allowing desktop office computers to use ORG technology without changing other existing computer software.
As a result, the deal could open up a potential market of CARDINAL of PC users to adopt ORG network technology, while ensuring compatability with older network technologies.
Neither ORG nor Fore Systems would confirm the deal.
But industry analysts said ORG's backing of ORG should boost the technology's legitimacy with corporate network administrators, who to date have proved reluctant to install higher-cost ORG networks in place of existing ones.
""It will make connecting PCs to ORG networks easier because all you will have to do is buy an ORG switch, buy an adapter card and a PC is up and running,"" said PERSON, a network analyst with ORG in GPE, GPE, referring to the basic equipment necessary to install ORG.
Petrosky was CARDINAL of a handful of analysts who were pre-briefed by the companies about outlines of the deal.
Existing technologies such as PERSON and PERSON have been around since DATE and remain the dominant standards for networks that connect corporate office computers.
ORG is considered more expensive because it requires investments in existing network infrastructure like cabling, switches and other equipment to be ripped out and replaced.
Sources said integration of ORG into PRODUCT software will help standardize ORG networking products, making it easier to develop ORG products, while driving down customer costs.
ORG's own software business is likely to benefit from enabling networks able to transmit multimedia-rich information to become more widely available, PERSON said.
To date, ORG backers, including Fore, the recognized industry leader in ORG technology development, have failed to win widespread adoption of it in corporate office networks.
Instead, Fore has built a fast-growing business selling ORG technology to telephone carriers who use it to transmit large volumes of data at high speeds over the backbone sections of their wide area telecommunciations networks.
Fore also sells adapter cards that can be installed inside personal computers that allow them to accept information transmitted over these wide area networks.
Here, it faces growing competition from ORG, ORG and others.
PERSON, a network hardware analyst with the market research firm ORG, based in GPE, GPE, said ORG's intergration of ORG would eliminate some of the hurdles of connecting ORG networks to desktop PCs.
However, he expected the deal's main impact would be to lend visibility to Fore's wide area network ORG business, by providing a broader base of PCs ready to communicate over networks using a mix of ORG and ORG technology.
""The deal puts ORG on a little bit more of an even-footing,"" Petrosky said, but noted, ""There are still cost issues and competing technology issues.""
Petrosky was referring to how ORG has been upstaged in corporate office networks by an intermediate class of technology known as Fast Ethernet, which allows networks using existing hardware to handle some multimedia communications.
In addition, she said the network industry was beginning to embrace a new method known as Gigabit Ethernet that could rival ORG capabalities in many repects. Gigabit Ethernet allows video transmission at speeds roughly similar to ORG.
""It's another thing that can help PERSON, but I don't think it's going to drastically change the odds for ORG acceptance,"" Duke agreed. ""There are other cost-effective technologies available DATE,"" he said, referring to ORG systems.
It was not clear from the sources whether ORG's plans extended beyond its Windows NT and Window CARDINAL operating systems to include its older Windows CARDINAL system.","Strike-fueled production losses mounted for ORG DATE as ORG signaled a snag in labor contract talks by canceling a DATE meeting of plant-level leaders here.
The ORG said its CARDINAL-member ORG was now scheduled to meet DATE, in GPE if the union reaches a tentative agreement covering CARDINAL ORG workers in DATE.
Although ORG officials declined to rule out an agreement on DATE, the ORG's move was viewed as a negative sign for the talks because it buys more time. The council, made up of local leaders from across the country, must approve any contract deal.
Meanwhile, pressure from local strikes in GPE and GPE mounted DATE as the number of workers idled by the walkouts exceeded CARDINAL.
In a CARDINAL-pronged effort to deprive ORG of profits from its light truck operations, CARDINAL workers walked off the job at the company's GPE metal stamping plant and CARDINAL struck the GPE, GPE, truck assembly plant DATE.
The GPE plant feeds fenders, doors, hoods and other major body panels to CARDINAL of ORG's CARDINAL NORP light truck plants, CARDINAL of which are now idle, including PERSON.
ORG's GPE, GPE, compact pickup truck plant shut down DATE, idling CARDINAL workers, while ORG's GPE, GPE, plant, which employs CARDINAL workers, was expected to run out of parts DATE TIME. PERSON produces ORG and ORG compact pickups and sport utility vehicles.
CARDINAL workers were idled at ORG's GPE, GPE, compact sport utility vehicle plant DATE TIME, while CARDINAL workers were laid off at ORG's GPE, GPE, full-size pickup truck assembly plant on TIME.
In addition, 900 workers who build V-8 engines for trucks assembled in GPE and GPE were idled on DATE.
PERSON, an auto analyst at PERSON, said the GPE, GPE and Moraine shutdowns alone will cost ORG MONEY a day in after-tax lost profits.
""We're looking at MONEY a day right now, and that could easily expand to MONEY by DATE,"" Ward said.
ORG's board of directors on DATE is expected to delay an anticipated increase in the company's DATE common stock dividend if a deal is not reached soon. The company's DATE payout rate of MONEY a share is unchanged since DATE, despite strong profits.
Rewarding shareholders could jeopardize the talks, especially when ORG is seeking concessions that would allow it to cut costs and sell off unprofitable plants, said ORG auto analyst PERSON.
""Unless a settlement is reached by DATE, the board is not going to throw gasoline into the fire,"" PERSON said.
Full-size pickup truck plants in GPE and GPE, GPE, GPE, Ontario could run out of parts within DATE, while a ORG truck plant in GPE, GPE, was believed to have a greater supply of parts on hand.
Layoffs from the ORG strikes are increasing as ORG's GPE car operations are still staggering from the effects of the DATE ORG strike, which ended DATE and is estimated to cost the automaker MONEY.
ORG said it still had CARDINAL workers idled by continuing shortages of NORP-made parts at CARDINAL car assembly plants, CARDINAL engine and transmission plants and CARDINAL metal stamping facilities.
The CARDINAL sides have been haggling over the total number of TIME workers that ORG will guarantee to maintain over DATE.
ORG and ORG have agreed to guarantee jobs for PERCENT of their current TIME workforces, but ORG wants to exclude several parts plants from the guarantees.
ORG, the least efficient of GPE's Big Three, wants changes to the pattern to allow it to cut costs and shift more parts work to outside suppliers.
ORG is expected to match the ORG and ORG wage package, which calls for a $MONEY bonus in DATE, and PERCENT base wage increases in DATE.",0
"The Internet may be overflowing with new technology but crime in cyberspace is still of the old-fashioned variety.
ORG said DATE that the most popular scam on the Internet was the pyramid scheme, in which early investors in a bogus fund are paid off with deposits of later investors.
The league, a non-profit consumer advocacy group, tracks web scams through a site it set up on the world wide web in DATE called ORG at http://www.fraud.org.
The site, which collects reports directly from consumers, has been widely praised by law enforcement agencies.
""Consumers who suspect a scam on the Internet have critical information,"" said PERSON, director of ORG ORG. Internet Fraud Watch ""has been a major help to the ORG in identifying particular scams in their infancy.""
In DATE, for example, the commission used Internet reports to shut down a site run by GPE that had taken in MONEY, promising investors they could earn $MONEY a month from an initial deposit of $MONEY. Instead, GPE kept most of the money, the commission charged.
Fraud reports from the league's site, which has been visited CARDINAL times, are forwarded to local, state and federal authorities.
The ORDINAL-most-popular Internet scam, the league said, was the sale of bogus Internet services, such as custom designed web sites or Internet access accounts.
In ORDINAL place were crooks who sell computer equipment, such as memory chips or sound boards, over the net and then deliver significantly lower quality goods or nothing at all, the league said.
Other top scams involve business opportunities. Con artists may offer shares in a business or franchise using unreasonable predictions or misrepresentations. CARDINAL popular scheme promised to let consumers get rich while working at home.
The League also announced DATE that ORG had donated $MONEY to become a sponsor of ORG site.","Prospects for comprehensive reform of GPE banking and financial services laws remain bright despite a far-reaching proposal being considered by ORG that has upset some banks.
Most in government and the industry now agree that the DATE PERSON-Steagall Act separating banking from other financial activities like insurance and securities dealing should be scrapped.
But there is little consensus about removing the barriers between financial firms and other commercial companies, a position the administration is actively considering for its reform proposal expected in DATE.
""The feeling is still very, very good that everyone wants PERSON-Steagall reformed,"" former Congressman and bank lobbyist PERSON said.
With DATE left for ORG, legislators should have sufficient time to come to agreement, added PERSON, managing director of ORG securities section.
""There's tremendous momentum building. Maybe it won't be in DATE but certainly within the ORDINAL,"" he said.
Federal courts and regulators spurred the momentum DATE by lifting many restrictions on banks' non-banking activities, PERSON noted.
As previously reported, ORG Secretary PERSON is weighing the recommendations of a task force headed by Under Secretary PERSON to remove all barriers between financial and non-financial companies. Under the plan, a company like ORG or ORG could own or be owned by a financial services company like ORG or ORG.
""There has been an enormous amount of movement on the whole issue in DATE,"" a person familiar with the administration's deliberations said.
Among various bills in ORG and the administration, the commerce issue ""is the last issue that's left, which is an indication of how far we've come. For the ORDINAL time, the omens are good and this is the only hang-up,"" the person said.
The remaining ""hang-up"" has raised strong opposition from ORG Chairman PERSON along with smaller banks and consumer groups.
""There is no public support and no economic need for the conglomeration of financial institutions and other businesses,"" the GPE NORP said. ""The nation needs to be concerned about creating jobs, not simply consolidating ownership.""
If the administration pushes ahead with the PRODUCT plan, it would create a ""much longer debate and prolong the process,"" CARDINAL ORG staffer added. ""This is an issue which (Leach) feels has not been fully debated,"" the staffer said.
Small bankers agree. ""It's a proposal that would essentially change and concentrate not only the financial structure of GPE but the whole economic and financial structure,"" said PERSON, executive vice president of ORG.
Such concentration would be bad for the economy, PERSON added. ""It is based on very debatable assumptions.""
CARDINAL bill in ORG includes a possible compromise approach, lobbyists noted. Representative PERSON bill would allow banking, insurance and securities firms to merge and would allow such companies to derive PERCENT of their revenues from non-financial activities.
The GPE NORP, chairwoman of ORG Financial Institutions subcommittee, has lined up some big guns behind her bill. ORG, a coalition representing most the large trade groups involved in financial services, broadly endorsed the bill.",1
"A powerful car bomb exploded in the northwest city of GPE early on DATE, killing CARDINAL woman and injuring CARDINAL other people, police chief Gen. PERSON said.
QUANTITY (QUANTITY) of dynamite was packed into a minibus and detonated outside the house of PERSON, a regional newspaper editor and former provincial governor.
CARDINAL unidentified gunmen opened fire on private security guards near PERSON's home before the bomb went off TIME (DATE ORG), PERSON said.
The dead woman was named as PERSON, DATE, the wife of a civil engineer, who lived close to the site of the blast. PERSON was not home at the time but CARDINAL of his CARDINAL sons, PERSON, was injured.
""We don't know the motive for this attack. It is too early to say who was behind it. We don't know if it was leftist guerrillas, drug traffickers or right-wing paramilitaries. We're looking at all the possibilities,"" PERSON said.
PERSON, a member of the opposition ORG, is head of the regional ORG newspaper, which has its headquarters in the industrial city of GPE, the main city of GPE.
In DATE it has been serializing an extensive interview with PERSON, leader of the country's most-feared right-wing death squad, whose main target is leftist rebels and their suspected supporters.
TIME after the bomb blast a hitherto unknown group, calling itself FAC, issued a communique, a copy of which was obtained by ORG, declaring war on paramilitary groups in GPE.
The organisation, claiming to be made up of ex-guerrillas who had laid down their arms, accused serving state governor PERSON, of ORG right wing, of sponsoring the paramilitaries. Uribe lives close to the site of DATE's blast but it was not clear whether the communique and the attack on PERSON's house were linked.
GPE has in the past seen some of the worst violence unleashed by the country's powerful drug cartels. It was the scene of multiple attacks by the notorious drug mafia led by the late Pablo Escobar in DATE and DATE. The cocaine kingpin waged war against the state in a successful bid to force ORG to ban the extradition of NORP to GPE.
DATE ORG approved a tough new law designed to strip drug lords of their illicit billion dollar fortunes. More measures including stiffer jail terms are due to be debated in an extended session of ORG DATE.","A fast-selling product that allows grannies all across GPE to exchange electronic mail securely with their families may become a key weapon in challenging the GPE government's tight encryption policies.
Computer industry executives said the strong encryption which startup ORG is delivering on CARDINAL of television-based Internet browsing devices is still prohibited from export by EVENT munitions laws.
Executives at GPE, Calif.-based WebTV said they chose to use the strongest coding standard available to give consumers the assurance their communications would be kept confidential.
""The only way we felt we could guarantee the level of security we felt was uncrackable by anyone...was if we were essentially using ORG-class security procedures,"" said PERSON, co-founder and chief executive of WebTV Networks.
WebTV uses CARDINAL-bit encryption, based on coded 'keys' with CARDINAL characters of information, the same level of coding used in some of the most secretive GPE government communications.
""It's very similar to what they use when they're communicating with cruise missiles,"" PERSON said.
This is a useful fact to point out in reassuring potential customers they can both communicate and pay for goods and services securely over the Internet, he added.
""They love it. They really love it, beause now they can just relax and forget about it,"" he said. Using a credit card number over WebTV's encrypted communications is safer than reading it over a telephone, which can be tapped, he argues.
""While the ORG can get your credit card that way (over the telephone), they can't get it through WebTV,"" he said.
Perhaps equally excited about the decision by WebTV to use such strong encryption is the LOC high tech business community, which has been deadlocked in a battle with the PERSON administration over encryption restrictions.
Laws against the export of encryption date back to the start of EVENT, when earlier versions of coding were considered vital to national security and were classified as munitions explicitly barred from export.
Top computer executives now say the use of encryption in relatively normal, consumer-oriented applications such as WebTV is a perfect example why they feel the government's efforts to restrict the technology should ultimately fail.
""Without commenting specifically on WebTV, I can tell you that the government is fighting essentially a losing battle here,"" said PERSON, chief technology officer at ORG
""What's happened is that the technology is now so ubiquitous and there are so many people using it that the current law...really needs to be scrapped.""
In addition to the need for GPE businesses to have strong encryption to secure their own systems when operating overseas, the computer industry argues that competitors in other countries are being given an open market to sell higher levels of encryption GPE companies are barred from selling.
But GPE insists that law enforcement authorities must have a means of breaking into encoded messages to investigate criminal activity.
The Administration recently offered a compromise where companies could export modestly strong 'keys,' less powerful than those used by WebTV, as long as they could be recovered by authorities to crack codes after obtaining a court warrant.
Industry is not pleased with the idea.
It would be difficult, and unduly expensive, to administer and is unlikely to be acceptable to foreign customers who might not consider the GPE government to have a right to break into their confidential communications, many argue.
""Our personal view is that the notion of key recovery is something that's not going to be very acceptable, particularly to other countries -- the notion that the GPE government would be able to recover the keys,"" said PERSON, chief executive of ORG, Inc.
In the meantime, however, WebTV will be prohibited except by special license from exporting its devices, which are being sold by consumer electronics manufacturers ORG and ORG through retail stores.
In fact, the issue came to light publicly following a letter from one of the manufacturers to its distributors, warning not to export the machines due to the munitions laws.
""It would definitely be unfortunate if sombedy was to carry one over the border,"" said PERSON, adding the WebTV boxes have more computing power than the world's most powerful supercomputer -- ORG XMP-48 -- did in DATE.
""That was a MONEY computer in DATE. This is a $MONEY computer and it outperforms the ORG,"" he said.
WebTV has attracted investments from ORG and a unit of GPE GPE..
""This WebTV is the ORDINAL of many we're going to see where legitimate customers really do need very strong encryption for things involving really normal day-to-day use,"" said PERSON.",0
"ORG is basing its DATE business plans on assumed prices of MONEY per barrel for crude oil and $2.00 to $MONEY per thousand (corrects CARDINAL) cubic feet for natural gas, said chief financial officer PERSON.
In an interview with ORG, PERSON said, ""We're making our investment decisions on MONEY crude. On natural gas ... MONEY, $MONEY per thousand (corrects CARDINAL) cubic feet of natural gas is what we're looking at from a planning assumption.""""
GPE crude futures for DATE delivery on DATE closed at $MONEY per barrel.  
""We like these prices where they are. We think they're where they are because of a tightness between supply and demand ... But we're not making our investment decisions on those prices,"" PERSON said.
Shares in GPE-based ORG rose CARDINAL to CARDINAL on DATE after the energy giant reported strong DATE financial results.
ORG will likely spend MONEY DATE on exploration, compared to MONEY in DATE, he said.
The company also is planning to hold its DATE operating costs throughout the company flat at the DATE level, he said.  
""You look at total operating costs as a company, they're basically flat, 'DATE, on a planning basis. We're really pushing that responsibility down into the units. CARDINAL unit to another unit might have job eliminations ... But we don't anticipate any wholesale, large restructurings like we announced in DATE,"" PERSON said.
In reporting results, ORG said DATE chemical sector earnings fell versus the DATE period and cited lower olefins and softened paraxylene product profit margins.
On paraxylene prices, PERSON said, ""It looks like maybe they hit the bottom at DATE"" near $MONEY per pound.  
""It may be that they're starting to firm up a little bit, but I think it's too soon to call that,"" he said.
Paraxylene traded on the spot market DATE near $MONEY per pound. ""Paraxylene prices appear to be coming up,"" said ORG energy industry analyst PERSON.
On olefins, PERSON said, ""ORG is much tougher. The trick with olefins right now is the feedstock issue hitting them. A little bit of pressure on the price side, too. Too soon to call that one, too, I think.""
He said ORG saw refining margins decline in DATE. ""We're not seeing any change from that"" in Q1, he said. ""It's kind of hanging around the same place. Those refining margins continue to be below where we were DATE on a year-to-date basis. It's still tough out there.""
((--Chicago Newsdesk 312-408-8787))","NORP police detained leading dissident PERSON on DATE after searching his home and confiscating documents in the latest sign of a hardening attitude to the few dissidents still at liberty.
CARDINAL or eight plainclothes and uniformed police, equipped with a search warrant, entered PERSON's GPE home at TIME (CARDINAL ORG), a relative said.
""They turned the whole place upside-down,"" she said.
After searching the house and taking books, photographs and documents and articles that PERSON had written, police took him away, the relative said. ""They took everything.""
They gave no reason for the detention of PERSON, a renowned literary critic who gained fame as a dissident during the DATE student-led pro-democracy movement that was crushed by the military with heavy loss of life.
Police did not say when PERSON might be released. ""They gave no reason,"" the relative said. ""They said to wait for notification.""
Liu has been active in DATE, sending open letters to the government to demand press freedom and talks with the Dalai Lama on GPE.
On DATE, PERSON and veteran pro-democracy activist PERSON issued a statement urging GPE's communist authorities to honour a promise in DATE to give people religious freedom, freedom of the press and speech and to form political parties and stage demonstrations.
In a bold move, the CARDINAL demanded ORG chief PERSON be indicted, impeached and step down for violating the constitution for saying ORG was under the ""absolute leadership"" of the party instead of the state.
PERSON was still at liberty in southern GPE on DATE.
PERSON was last detained by police in DATE after orchestrating several daring petitions to parliament by groups of dissidents and intellectuals in DATE. He was held for DATE without formal charges until being released DATE.
His detention comes DATE after NORP sources said another dissident, former student leader PERSON, faced a ORDINAL jail term after prosecutors charged him recently with subversion.
PERSON, DATE, faces DATE in jail on charges of counter-revolutionary incitement -- or subversion. A court in GPE was expected to deliver a verdict on ORG's case DATE, said CARDINAL source.
PERSON, who is believed to have worked with PERSON on several daring petitions, was detained in DATE in the run-up to the ORDINAL anniversary of the DATE military crackdown.
A former student of ORG, ORG served DATE in jail for counter-revolutionary activities for his role as a leader of the DATE demonstrations.
He had been expected to face charges since the court that sentenced veteran democracy activist PERSON DATE for plotting to overthrow the government also implicated ORG in its verdict.
PERSON and PERSON are among a very few dissidents who are not serving jail terms or re-education through labour penalties.
A court in central GPE DATE sentenced student leader-turned-dissident PERSON to DATE in prison for hooliganism. Police had initially accused PERSON of fraud but the prosecutor did not file charges against him, a human rights group said.",0
"GPE has suggested going to ORG over GPE's plan to disband GPE elected legislature when GPE takes back the territory DATE.
The spectre of the CARDINAL countries slugging it out in ORG in the GPE raised the drama of GPE transition to NORP rule to a new level after DATE of bitter wrangling on handover arrangements.
NORP Foreign Secretary PERSON and GPE Governor PERSON denounced GPE's plans on DATE and proposed letting the ORG rule on the dispute.
After DATE of NORP rule, the capitalist territory of CARDINAL people falls back under the NORP flag at DATE, with promises from GPE's communist leadership that almost nothing will change.
At that moment, a GPE-appointed legislature will take over from the elected ORG (Legco), reversing democratic reforms introduced by PERSON over DATE.
""There is no justification for GPE to replace a legislature elected openly and fairly by CARDINAL GPE people,"" Rifkind said in GPE.
""GPE should be prepared to trust GPE people with the measure of democracy we have introduced.""
He summoned NORP ambassador PERSON, the man tipped to be GPE's envoy in GPE DATE, to underline GPE's concern.
Separately, PERSON said in a statement and in an interview with ORG that the body planned by GPE would be a ""rubber stamp"" chamber that would simply echo GPE.
The threat of ORG action came on the eve of a vote by CARDINAL wealthy and influential GPE people picked under GPE's supervision to elect the provisional legislature.
Pro-democracy groups staged scattered protests in GPE and jeered committee members as they left for the NORP frontier city of GPE where DATE's meeting takes place.
""ORG will, I'm sure, be able to sort things out, and we'd be very happy to put our arguments to them,"" PERSON told ORG.
""Clearly DATE is going to be a very disagreeable one,"" PERSON said, adding that GPE might ""trash an institution"" but it could not ""stamp out the spirit of democracy"" in GPE.
Protesters mounted small-scale demonstrations outside GPE's diplomatic mission in the colony and at the PERSON railway station where members of ORG were boarding trains for GPE.
""It is totally unacceptable,"" said lawmaker PERSON, who joined in the protests. ""There is no legal and constitutional basis for that body, and also the NORP government is using that body to kick out people who they do not like.""
Patten said that despite GPE's views on the legislature, he would meet GPE post-colonial leader-designate, DATE shipping magnate PERSON, to explore ways to cooperate on building the post-handover administration.
The quarrel over the legislature set Tung and Patten on a collision course DATE. Tung lashed back in a speech to the business community, saying GPE must ""face the reality"" and warned that if the legislature were challenged he would get GPE's parliament to pass a resolution making it legal.
GPE biggest pro-democracy group, ORG, is boycotting DATE's selection process, which it brands as a plot to snuff out democracy and enact repressive laws.
""You won't find CARDINAL of them who can be called NORP by any stretch of the imagination,"" ORG leader PERSON told ORG, commenting on the candidates.","GPE risked GPE's wrath on DATE by proposing new laws on subversion in GPE, laying down legal markers intended to head off NORP-style jailings of dissidents after GPE takes over the colony in DATE.
The colonial government unveiled draft amendments to GPE criminal law, ordered by Governor PERSON's cabinet, to cover crimes of subversion and secession. The bill will go to ORG DATE.
GPE's move, after DATE of fruitless exchanges with GPE on the issue, was an effort to set down legal standards for GPE to follow after GPE takes control of the territory at DATE, NORP officials said.
But the move was promptly attacked by NORP officials. A spokesman for GPE's de facto embassy, ORG office, was quoted by a local GPE-controlled news agency as saying GPE had ""violated promises on the transition"" and GPE ""must bear all the consequences of its actions"".
Under a DATE GPE constitution promulgated by GPE, LAW, the territory must add laws against secession and subversion to the statute book after the handover.
Until now GPE has indicated it will have the law enacted by a new legislature it planned to install after the sovereignty transfer, sparking fears in GPE that it will bring in draconian communist-style laws clamping down on dissent.
Mainland GPE has always eyed GPE as a potential base of subversion, ever since revolutionaries used it as one of their bases against the imperial Manchu dynasty in DATE.
A ORG motion in DATE urged the GPE government to introduce pre-emptive laws on the issue to protect the civil rights of GPE CARDINAL people.
Fears were aggravated by remarks made by senior NORP officials DATE including Foreign Minister PERSON and GPE's GPE policy chief PERSON, who set clear limits on DATE freedom of expression in the territory.
GPE's draft bill proposes adding the crimes of secession and subversion to the existing criminal law and clarifies the definition of seditious activity. It removes references to the present sovereign PERSON, and refers only to GPE.
""It would not be desirable to leave a legislative gap in this important and sensitive area,"" an official said.
""It is quite clear that it is the view of the community that we should seek to have legislation on these concepts in place before DATE,"" said Secretary for Security PERSON.
The changes take a form that makes them easily adaptable by the future government of GPE (SAR) that GPE will install, an official said, adding that all that would have to be changed in the law after DATE would be the name of the sovereign state from GPE to GPE.
Under the amended law, sedition would carry a maximum jail term of DATE, subversion and secession DATE, and treason life imprisonment. In GPE these crimes can earn a death sentence. In GPE the death penalty is non-existent.
The draft law makes clear the offences are related to the use of force to attempt to overthrow the government, and not to non-violent criticism of the regime or of the political system as in GPE, officials said.
""What the NORP seem to be doing is to set down legal standards that would give space to non-violent critics and dissenters -- a law that wouldn't put people like PERSON or PERSON in jail,"" a source close to the government said.
Wei, the father of the NORP democracy movement, and former student leader PERSON, were both given lengthy jail terms in GPE DATE for subversion.
Both dissidents had criticised the government orally and in their writings and had called for democratic change in GPE, but neither man had resorted to violence.",1
"ORG reported better-than-expected profits for DATE DATE as strong demand for its Windows operating systems and applications helped fuel record sales.
The computer software giant said earnings rose PERCENT to MONEY, or MONEY a share, in DATE, from MONEY, or MONEY a share, in DATE. Revenues jumped PERCENT to MONEY from MONEY.
The profits, announced after the market closed, exceeded the Wall Street consensus expectation of MONEY a share, and ORG shares rose to $MONEY in after-hours trading from the earlier close of $MONEY on Nasdaq.
PERSON said the PERCENT revenue increase was the smallest ever posted in the company's DATE history, reflecting a surge in sales DATE when ORG launched its PRODUCT operating system.
But with the high sales, marketing and manufacturing costs of PRODUCT also behind it, the company's operating profit margin surged to PERCENT of revenues, compared with PERCENT DATE, said analyst PERSON of PERSON.
""It looks like it was just a great quarter, and there's more to come,"" he said.
ORG executives said in a conference call with analysts that business would continue to be boosted by an expected holiday surge in sales of personal computers and the DATE release of Office CARDINAL, an update to the company's business applications product.
ORG Chief Financial Officer PERSON said he expected revenues to rise sequentially over DATE and indicated revenue for DATE could be in the range of MONEY, PERCENT over DATE levels.
But he said the company's cost of goods sold should remain at PERCENT of sales, compared with PERCENT in DATE.
""I'm very happy with the general revenue trend, and I was very pleased with the pattern of costs in DATE,"" PERSON said in an interview.
ORG also cited strong acceptance of the company's high end EVENT operating system.
PERSON said sales of the NT workstation were up PERCENT over DATE levels, while revenues from the ORG suite of server products doubled. Officials declined to give figures, but the ORG line currently generates MONEY in DATE revenue.
ORG's overall revenues are about evenly divided between operating systems -- most of which are shipped loaded on new computers -- and applications.
Excluding sales directly to manufacturers, NORP revenues were flat in DATE compared with the DATE period, and revenues in GPE and LOC rose PERCENT, reflecting the tough comparison.
But revenues from other markets such as GPE, where Windows 95 was not released until later, were up PERCENT, ORG said.
Overall DATE ORG revenues and profits grew PERCENT, driven largely by the Windows 95 launch.
PERSON also said the company was on track to spend MONEY on research and development in DATE, including such ventures as its ORG cable and Internet news venture with ORG.
And the ""unearned revenue"" in the company's balance sheet from cyclical products such as ORG grew to MONEY DATE from MONEY DATE.
The company's cash hoard grew slightly to MONEY from MONEY.","New pickup trucks and sport/utility vehicles helped ORG DATE profits nearly double to MONEY, the company said DATE, but it alarmed analysts with growing losses in LOC.
ORG eeked out a MONEY profit from its worldwide automotive operations -- versus a loss of MONEY DATE --  as GPE automotove net income of MONEY was offset by a loss of MONEY from GPE regions.
ORG's DATE profits, which amounted to MONEY a share on a fully diluted basis, compared with MONEY, or MONEY a share, in the DATE period. The latest results were in line with Wall Street expectations.
Boosting the numbers was another strong performance from ORG. The unit earned MONEY, including a gain of MONEY from the sale of ORG assets, compared with a profit of MONEY in DATE.
But ORG earnings slipped to MONEY from MONEY DATE, reflecting higher credit losses.
""I think there's some real red flags there with overseas operations and ORG,"" said ORG analyst PERSON.
The company's earnings were negatively affected by a MONEY charge to cover the costs of early retirements for GPE salaried employees. ORG expects to report further charges of MONEY in DATE for more early retirements.
Despite the charges, ORG Chairman PERSON said the company expects its automotive results to be stronger in DATE DATE, with higher sales volumes and improving margins.
In the GPE market, the latest results were spurred by strong acceptance of new light truck products such as the F-Series pickup truck and new ORG full-size sport/utility vehicle, ORG said.
""Outside the GPE, results continue to reflect challenges in several key regions, particularly LOC and LOC,"" PERSON said in a statement, adding, ""There's still much to do.""
ORG lost MONEY from its NORP operations in DATE, mostly from GPE, up from a loss of MONEY in DATE period. ORG had said in DATE that DATE losses in LOC would be larger than DATE because of a lower market share and a costly launch process for its new Fiesta.
In LOC, the company's loss grew to MONEY from MONEY. ORG blamed new product launches, adverse vehicle mixes and continued high marketing costs.
However, ORG said its NORP high-volume vehicle launches were largely completed and that it would focus on cost reductions. It added that new products, such as the recently launched Ka small car that will go on sale DATE, will strengthen its NORP line-up.
DATE revenues climbed to MONEY from MONEY. Worldwide vehicle unit sales in DATE were also up, increasing to CARDINAL from CARDINAL.
But the automaker lost market share in both the GPE and western LOC. ORG ended DATE with PERCENT of the GPE car and truck market. It had PERCENT in both DATE and DATE.
ORG lost a full point of share in western LOC, falling to PERCENT from PERCENT in DATE. ORG's share in DATE was PERCENT.
The ORG, ORG's consumer finance unit, reported DATE earnings of MONEY, a record for DATE.
ORG said ORG expects GPE total vehicle sales to be CARDINAL for DATE, about in line with its earlier forecasts. The industry had CARDINAL sales in DATE.
In LOC, ORG forecasts industry sales at CARDINAL for DATE, up from CARDINAL in DATE. ORG expects moderate economic growth to continue in its major worldwide markets, providing for stable industry sales volumes.",0
"The NORP trade deficit jumped sharply in DATE, rising nearly 16 billion crowns (MONEY), but analysts were not alarmed by the rise, which was in line with DATE forecasts.
ORG (ORG) said on DATE the trade gap for DATE hit a record CARDINAL crowns, up from a revised MONEY crown shortfall for DATE.
The ORG, ORG and some analysts have predicted the deficit -- inflated by economic slowdown with the country's main trading partner, GPE -- will finish DATE at a record 150-160 billion crowns.
""The figures are developing according to forecasts. It's clear that the DATE deficit will be MONEY crowns,"" said PERSON, chief economist at ORG.
""I'm not surprised by the jump since the economic revival of GPE will only show up in export growth in DATE, not in DATE,"" he added.
The ORG said in a statement that imports in DATE rose by PERCENT year-on-year, down from PERCENT in DATE, while exports rose by PERCENT after a PERCENT increase in DATE.
It added that strong growth in machinery and transport equipment imports continued, growing by PERCENT year- DATE and accounting for PERCENT of total imports.
Analysts said they were encouraged by the rise in this sector because the imports were needed to restructure industry, allowing it to produce more competitive goods for exporting.
""The trend seems unchanged. The financing of future economic growth is being done with imports, especially in the heavy machinery sector,"" PERSON, an analyst at ORG said.
PERSON of Patria Finance added -- ""The country is still clamouring for machinery and raw materials which are necessary for industrial restructuring.""
Prime Minister PERSON, a monetarist-economist, has said the record trade deficit is ""not tragic"", adding it has come partly from a temporary foreign investment wave.
The NORP crown reacted indifferently to the trade figures on DATE, hovering PERCENT above its dollar/mark basket parity, where it was for most of DATE.
The crown was trading at CARDINAL to the dollar at DATE local time (CARDINAL ORG).
The rate implies a deviation from the midpoint of the currency basket of PERCENT, after the central bank's fixing earlier on DATE at PERCENT.
""The market is neither alarmed nor pleased with the figure. If the deficit hits the forecast level, I doubt we will see any significant change in the currency's value,"" said CARDINAL local forex dealer.
-- GPE newsroom, CARDINAL-2-2423-0003 ($MONEY NORP PRODUCT)","A NORP High Court judge rejected on DATE a MONEY claim by the liquidators of ORG (ORG) against accountancy firm ORGamp; ORG, now known as ORGamp; PERSON.
BCCI was closed by central banks in DATE and collapsed with debts of MONEY amid evidence of massive fraud and money laundering which has since led to a complex series of court cases, both criminal and civil, in several countries.
Judge PERSON said the claim by the liquidators of ORG (Overseas), ORGamp; ORG, that ORGamp; ORG owed a duty of care to the bank was based ""long on assertion and deficient on relevant facts"".
Ernst & PERSON said the original claim against its predecessor firm was for MONEY but this was reduced to MONEY in DATE.
Following this judgement, the principal claim against ORGamp; ORG now stands at around MONEY in respect of the firm's DATE and DATE audit of ORG and ORG.
A similar claim remains outstanding against another international accountancy firm, ORG, which took over as auditor to ORG in DATE when ORGamp; ORG resigned.
""The ORG liquidators have now had struck out, or been forced to withdraw, PERCENT of the claims originally brought against ORGamp; ORG,"" said ORGamp; PERSON senior partner PERSON. ""We look forward to dealing with PERCENT in a similar fashion and to recovering our costs which are substantial.""
Land attacked the liquidators for choosing to spend MONEY pursuing what he called ""speculative and unfounded claims"" rather than making money available to those who suffered losses from the ORG collapse.
ORGamp; ORG was not immediately available to comment on the judgement.
After a DATE struggle, ORG creditors began to receive payments DATE. ORGamp; ORG said it was making a payment of MONEY, equal to PERCENT of their claims.
BCCI had assets of MONEY and operations in CARDINAL countries at the time of the collapse.",0
"ORG said on DATE it expected rapid revenue growth from the alliance it had formed with ORG for banking services in LOC.
""We expect it to be a fairly rapidly growing revenue stream,"" said PERSON, group executive of ORG.  
However, ORG said he could not say how much revenue the alliance would produce in DATE of business or how much PRODUCT had invested in the venture, which officially started on DATE.
The banks said earlier there would be no exchange of equity between the CARDINAL.
""We have made a substantial investment already, but it is going to be a continuing investment as we expand our capabilities across LOC,"" PERSON told ORG by telephone.  
PRODUCT has no plans to extend the alliance beyond LOC to LOC and LOC, where ORG also has operations.
""We are going to purely focus it on LOC,"" PERSON said.
The venture would focus primarily on GPE, GPE, GPE, GPE and GPE, before expanding into GPE and GPE in DATE, ORG said.","GPE stocks ended mixed on DATE, with a focus on falling pipeline and gold issues after the market gained CARDINAL points thus far in DATE.
""This is a momentum that cannot be maintained, so this market is giving back some of its gains,"" said P and ORG President PERSON. ""I think it'll take DATE before it sells off enough"" for investors to return and hunt for bargains.
ORG key CARDINAL Composite Index lost CARDINAL points to close at CARDINAL points for its ORDINAL straight losing session. However, advancing issues edged out declining ones CARDINAL to CARDINAL.
Another CARDINAL stocks ended unchanged.
CARDINAL shares were traded worth MONEY (MONEY.)
Since DATE the key CARDINAL index has climbed from CARDINAL points to DATE's close of DATE, a gain of CARDINAL points.
Market players have been hurt by vacations ahead of DATE, ORG said. NORP markets will be closed on DATE, for DATE.
All of GPE's CARDINAL sub-indices fell except for conglomerates and retail issues. Pipelines, golds, transports and forestry products dropped the most.
Among the hot stocks, banks were briskly traded. ORG rose ORG to C$MONEY in turnover of CARDINAL shares.
DATE GPE's ORDINAL and ORDINAL largest banks, ORG and ORG, kicked off the reporting period for financial institutions by posting better-than-anticipated DATE profits, said PERSON of Canada analyst PERSON.
ORG was also active. The nation's largest cable-television firm saw shares slip ORG to C$MONEY on CARDINAL shares, continuing DATE's fall. Chief financial officer PERSON resigned DATE, the ORDINAL senior executive to jump ship DATE.
ORG closed its deal with small gold prospector ORG DATE, paying C$MONEY a share in cash and PERSON shares after sweetening its original offer of C$MONEY. ORG stock slipped MONEY on CARDINAL shares.",0
"GPE announced on DATE a massive restructuring of CARDINAL of its biggest conglomerates after reportedly meting out a suspended death sentence to the son of the former company chairman, CARDINAL of the country's ruling elite.
State media announced the restructuring of ORG, or PERSON, on DATE but made no mention of the suspended death sentence handed down to PERSON, the former head of CARDINAL of the steel giant's GPE-listed affiliates.
A GPE court gave PERSON the suspended death sentence for corruption as part of GPE's highly-publicised anti-graft campaign launched DATE, a NORP source said on DATE.
The sentence was the heaviest handed down in DATE to CARDINAL of GPE's so-called ""princelings"", the popular sobriquet applied to the children of the ruling party elite, who enjoy wide influence.
PERSON, CARDINAL of GPE's biggest conglomerates, was thrust into the limelight after PERSON's detention in DATE.
The arrest of a man symbolising GPE's efforts to wield capitalist influence while retaining a socialist veneer underlined the vulnerability of that system to nepotism and abuse.
PERSON father, PERSON, DATE, resigned as chairman and ORG secretary of GPE in DATE, citing old age following his son's detention.
The Zhous have close ties to the family of paramount leader PERSON.
DATE, prosecutors filed charges of corruption against CARDINAL people, including PERSON and CARDINAL former officials of the GPE city government. No other details of the case were available.
NORP courts frequently impose the death penalty in major corruption cases. Suspended death sentences are often commuted to life imprisonment after DATE.
Court officials could not be reached for comment on the sentencing.
ORG said the restructuring of GPE draws a clear line between the property rights, responsibility and management of the parent company and subsidiary.
In the past, a large percentage of the parent company's profits went to branch companies, many of which are running in the red, the newspaper said.
PERSON's parent company would gradually cut off financial subsidies to subsidiaries which would be forced to sink or swim in the market economy as part of the restructuring programme.
""We will provide financial support for our subsidiaries for DATE, helping them in investment, finance and discharge of their debts based on an appraisal of their fixed assets,"" PERSON, ORG secretary of GPE, told the newspaper.
""Once that is done the subsidiary companies will develop strategies to stop losing money and begin to make profits,"" PERSON was quoted as saying.
The number of employees of the parent company would be gradually slashed to CARDINAL, or CARDINAL of the group's total, the ORG said. It gave no timetable.
The group's CARDINAL subsidiaries would employ CARDINAL people.
The group registered MONEY (MONEY) in pre-tax profits in DATE, ORG said. It gave no comparative figures.
Corruption was virtually eliminated in DATE after the communists came to power in DATE, but has staged a comeback along with economic reforms in DATE.
ORG chief and state president PERSON has declared war on corruption, warning that the scourge was a virus that threatened the party.","The trial of prominent NORP dissident and former student leader PERSON for the capital charge of plotting to overthrow the government is expected to be held behind closed doors soon, a family member said on DATE.
EVENT had yet to inform ORG's family of the trial date, the relative said.
The court was widely expected to fill the limited number of courtroom seats with carefully selected people to keep away foreign reporters and fellow dissidents.
""Only the people notified by the court can attend the trial. Others cannot attend,"" the family member said in a telephone interview.
""In reality, the trial will not be open...but the court will not admit it is not an open trial,"" the relative said. ""It tells a group of people to attend and calls this an open trial.""
A court official, contacted by telephone, declined to comment.
If DATE trial of PERSON, father of GPE's tiny, struggling democracy movement, was an indication, ORG's trial would be kept from public view, a political activist said. Dissidents and foreign reporters were barred from PERSON's trial.
Court officials have confirmed that ORG, detained since DATE, has been charged with plotting to overthrow the government -- a crime that carries a maximum penalty of death and a minimum of DATE in prison.
They have not given further details of the trial though one official said that ORG could appeal to ORG if convicted.
Relatives said DATE they had found a lawyer willing to defend ORG after being given DATE to find one.
PERSON's mother, PERSON, a DATE museum researcher who has no background in law, has said she would defend her son in court. NORP law allows an accused to be defended by a family member.
It also states that only lawyers can meet detained defendants. ORG's mother was allowed to meet the dissident at a detention centre in GPE on DATE because she was his legal counsel.
The dissident was mentally prepared for a harsh sentence, ORG's mother told a GPE-based group that monitors human rights in GPE.
""PERSON said he has not done anything wrong...He is very calm...and psychologically prepared for a heavy sentence,"" the group quoted the mother as saying.
""She is very worried about his health,"" the group said.
It added that ORG had back, throat and prostate problems.
""In the condition that PERSON is in, it would be difficult for him to hold out under another long prison sentence,"" it quoted the mother as saying.
PERSON, DATE, has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in pro-democracy demonstrations that were crushed by the army in DATE with heavy loss of life.
ORG had been expected to face new charges since DATE, when the court that convicted PERSON implicated ORG.
The verdict said PERSON, who was jailed for DATE, had links with people ""convicted of counter-revolutionary crimes, including PERSON"". It also referred to a tape-recorded conversation between ORG and PERSON, but gave no details.
ORG had been active after his parole in DATE, defying persistent police surveillance and harassment to join in a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.",1
"Privately owned NORP investment bank PERSON on DATE announced increased pre-tax profits for DATE which it said underlined its ability to remain independent.
""We are committed to remaining independent. These results, our ORDINAL best interim results ever, show we can remain independent,"" a PERSON spokesman told ORG.
Flemings has been widely talked about as a possible takeover target for a larger foreign investment bank, but has resolutely said it would retain its independence.
Flemings said its pretax profit for DATE had increased by PERCENT to MONEY (MONEY), from MONEY DATE but warned it would have to cope with difficult markets in DATE.
Some analysts said the increase was not particularly impressive given market conditions but chief executive PERSON said it was ""a very good start"" and showed new businesses were ""making a valuable contribution to profitability.""
""While the outlook for DATE seems promising, flat NORP markets and heightened competitive pressures in other markets are factors that we will continue to have to contend with during DATE,"" PERSON said in a statement.
The PERSON official said the results showed that while PERSON may have been perceived as an NORP-centric bank, it was now a much more international operation and had succeeded in bringing down its cost income ratio.
Flemings has not had an easy year so far. In DATE it lost investment banking head PERSON who was poached by BZW, the investment banking arm of GPE's GPE.
And in DATE PERSON, a joint venture with PERSON, revealed a DATE probe by NORP and GPE regulators into irregular trades by a former senior fund manager at ORG.
This resulted in hefty fines and voluntary compensation of MONEY to clients. Regulators also withdrew the authorisation of PERSON GPE-based fund company. In DATE the company's chairman retired and the group created a new supervisory board.
Flemings acknowledged the problems at ORG meant the joint venture had recorded a ""marginally lower"" interim result than its net interim profit of MONEY in DATE.
This was after taking into account provisions ""arising from the regulatory issues relating to DATE,"" it said. The PERSON spokesman told ORG some clients had been lost, but new clients had also been taken on.
He described the events as a ""painful experience."" ""But we believe we have clearly drawn a line in the sand,"" he added.
Any impact these problems may have had on PERSON' overall business was not, however, reflected in the interim dividend which rose to MONEY per share from MONEY.
Flemings said it had seen strong profit growth from its fund management businesses adding that its securities business had reported ""a marked increase in profits aided by a strong performance by GPE and continental NORP broking.""
Its capital markets arm had helped companies raise MONEY of new capital while its corporate finance division had completed CARDINAL deals during the period.
The appointment of GPE, DATE, to replace PERSON, DATE, who will retire as chairman of ORG at DATE, means PERSON would be more involved in business development and winning new business as well as strategy and relationships with major clients and shareholders.
PERSON, DATE, who was hired by PERSON as a fund manager in DATE, was named as his replacement as chief executive and chairman of the group executive committee. Garrett will be responsible for the day-to-day running of the group.","ORG stock took a beating DATE despite reporting a sharp rise in earnings that topped Wall Street's average forecasts and set milestones for its typically weak DATE.
LOC, Calif.-based computer maker said DATE that its profits jumped PERCENT in DATE to MONEY, or MONEY a share, from MONEY, or MONEY a share, in DATE. It cited continued strong sales of its computer workstations.
The profits were a shade above Wall Street analysts' average forecast of MONEY a share as compiled by ORG, which tracks earnings estimates, but investors started taking profits in after-hours trading DATE.
Traders noted the stock had run up ahead of the report, and that while ORG's numbers were strong, they were not as strong as had some on Wall Street had been expecting.
Furthermore, some analysts expressed concerns over whether ORG will be able to match the performance in the future in an increasingly competitive market for workstations as rivals introduce new models of their own.
The stock of LOC, Calif.-based computer maker touched its all-time high of $MONEY DATE before the earnings report and ended regular trading at $MONEY. But it fell $MONEY in after-hours trading following the report.
The freefall continued DATE, with the shares off MONEY at CARDINAL point at a session low of $MONEY and closing DATE at $MONEY, down $MONEY on ORG trading volume of CARDINAL shares. It was the most actively traded stock on the exchange.
""We've got to believe there's some profit-taking going on,"" ORG Chairman PERSON told reporters in a conference call DATE when informed of the after-hours decline.
A number of analysts trimmed their ratings on the DATE computer maker, mostly saying the stock's price had already soared to near their DATE trading targets and that the downgrades were based on valuation rather than fndamentals.
ORG analyst PERSON, for example, cut his rating to ""outperform"" from a ""strong buy"", with a price target of $MONEY on the stock. However, he also raised his DATE earnings estimate to $MONEY a share from $MONEY.
The company reported record earnings per share of $MONEY in DATE, which ended in DATE.
Alex. Brown analyst PERSON also cut his rating, to a ""buy"" from a ""strong buy"" and WORK_OF_ART removed the stock from its recommended list after it hit its $MONEY price target.
A few analysts also expressed concern that although ORG has received a great deal of publicity over its PERSON technology, it also will face stiff competition from rivals ORG and ORG, which have just introduced speedy new computer models.
Other competitors, like personal computer maker ORG, are also expected to jump into the market with workstations to compete in the high-end market for machines which has long been dominated by a handful of firms.
""His new competitors are ORG and ORG. The enemy isn't the traditional competitor but a new class of people that can compete in this space,"" said PERSON, an analyst at ORG
Sun scored a small coup DATE by hiring PERSON -- a ORG veteran who was just named by ORG DATE to head up its newly formed workstation division -- to instead be vice president of ORG.
Stock in ORG, whose DATE earnings also surpassed Wall Street estimates, also fell, closing down $MONEY ato $MONEY in ORG trading.
Some analysts said they saw the weakness in ORG's stock as a buying opportunity.
ORG analyst PERSON said he raised his earnings estimates for ORG and reiterated a buy rating.
""They delivered DATE,"" PERSON said.",0
"ORG (ORG) warned again on DATE of a subdued profit outlook for the current DATE and beyond, citing a competitive housing market, falling margins and higher wage costs.
ORG chairman PERSON told shareholders at the bank's DATE meeting that nothing in DATE had changed earlier forecasts of flat profits in DATE.  
""We are now DATE into DATE and nothing has changed to prompt the bank to revise this assessment,"" PERSON said in his chairman's address.
""CARDINAL is shaping up to be every bit as challenging as we envisaged,"" he said.
""The home loan market remains intensely competitive.""
ORG reported a net profit of MONEY in CARDINAL, up from MONEY in CARDINAL, and said when it released its results in DATE that it expected earnings to be flat in CARDINAL.  
PERSON said ORG's directors aimed to maintain the ratio of dividends per share to earnings per share at PERCENT in CARDINAL.
However, PERSON also said later at the meeting that banking industry profits could fall over the long run and that ORG would have to work hard to ensure its profit falls were less than those of other banks.
""We have to be sure that ours (profits) come down by as little as any of the others,"" PERSON said in answer to a shareholder's question.  
PERSON later told reporters banking industry profits would be under pressure in the future.
""The industry will be under pressure of falling profits unless, just like in any other industry, it pays great attention to its costs and gets very efficient,"" he said.
""There's no suggestion that (the ORG's) profits would fall off DATE,"" he said, adding that it was the bank's objective to increase profits in CARDINAL.
ORG Managing Director PERSON also played down PERSON's earlier comments. ""I read that comment to mean a fall in the growth rate in profits,"" he said.  
When asked if he too aimed for a rebound from the flat CARDINAL to profit growth in CARDINAL, ORG said: ""Yes. It means marketing better and containing our costs.""
But he said it was too early to be specific about a possible profit rise in CARDINAL. PERSON however also told the DATE meeting that cost control would be difficult.
He said ORG had restricted wages growth to PERCENT in DATE before the most recently negotiated enterprise bargaining agreements.  
""That (PERCENT over DATE) is clearly not sustainable with the inflation rate and wage expectations where they are but we continue to bargain hard on that front.""
ORG's share price closed down MONEY at A$MONEY, having earlier fallen to A$MONEY on the bearish comments from the DATE meeting. ""It's all on this talk of no earnings growth and wages pressure,"" CARDINAL GPE broker said before the late session bounce.
PERSON and PERSON also repeated their view that official interest rates were more likely to be cut than raised before DATE.  
-- FAC CARDINAL-2 373-1800","Soaring Internet usage is bringing GPE phone system perilously close to gridlock by tying up CARDINAL of local phone lines TIME, say industry experts and analysts.
""It is like gridlock on a highway: If you are close to capacity, traffic still moves slowly, but just add a few more vehicles and you get gridlock,"" said PERSON, director of network and traffic performance at ORG.
With Internet use rising at PERCENT a year, according to industry studies, phone capacity simply cannot keep pace.
""This type of (Internet) usage on our network is growing at PERCENT a month and we are watching it closely,"" said ORG spokeswoman PERSON.
For phone networks, gridlock means fewer calls going through on the ORDINAL try, more busy signals and even blocked calls, where perplexed callers hear nothing at all after dialing.
The bottleneck is essentially confined to local networks, and does not affect long distance carriers, experts say.
Industry studies suggest that if GPE Internet penetration reaches PERCENT, it would force a MONEY network investment by the regional ORG phone companies to support it. GPE currently has the highest penetration at PERCENT.
""We think action is required within DATE,"" when PERCENT figure is expected to be reached, said Atai.
Short-cut solutions exist, such as using filters to sort Internet calls from others based on their destination number.
If that idea catches on, it could open a huge market for firms like ORG and ORG, which make the filters.
But regional ORG, indignant that Internet service providers do not have to pay access charges to reach ORG customers as long distance companies do, are reluctant to pay to sort out the problem.
""ORG switch ports are being tied up and they're not even being compensated for it,"" said PERSON, an industry analyst with consultancy ORG.
The problem has swept like a tide from GPE, where ORG (PacTel) already has major problems, to major cities and even some suburban areas.
""We found the problem is very severe in GPE and east coast metropolitan areas. It is beginning to appear in some other areas,"" Atai told ORG.
The congestion could be a boon to cable TV operators in the fight for internet market share, analysts say.
Cable modems running on upgraded coaxial cable -- designed for the high data rate of video pictures -- are expected to avoid congestion problems and should be available in volume DATE, analysts say.
The problem is fundamental to the nature of phone systems.
""The local network was designed for short calls which you make and then hang up, but Internet calls often occupy a line for TIME,"" said PERSON. Those lines may not even be carrying much data, but are lost to the system in that time.
PacTel studied some of its telephone switches in detail and found that an average Internet surf was TIME long, compared with TIME for an average phone call. PERCENT of Internet calls were TIME or longer.
To make matters worse, the peak hour for phone systems has now switched to TIME because of TIME Internet use, throwing out the logistics of networks designed around pre- and post-lunch DATE calling peaks.
PacTel said a study of CARDINAL LOC telephone switch showed PERCENT of call attempts failed during peak TIME because of Internet traffic, and PERCENT of lines used by Internet service companies absorbed PERCENT of the switch's capacity.
Ultimately, analysts say Internet traffic will migrate to packet data networks, the most efficient way of routing it.
Packet networks act like traffic policemen, routing data on the next free highway away from jams, even if it means splitting up a convoy  -- the words of a phone conversation for example -- travelling to the same destination.",0
"In a sign that agreement on a labour contract between ORG and ORG may still have significant hurdles, the union said DATE it cancelled a meeting of its ORG that was scheduled here for DATE.
The council, made up of CARDINAL plant-level leaders at ORG locals across the country, was expected to vote on a tentative agreement covering ORG's CARDINAL ORG workers.
ORG spokesman PERSON declined to give a reason for the cancellation, but said the council will meet instead on DATE, in GPE, if the union reaches an agreement with ORG in DATE.
One official close to the talks said the meeting was cancelled because the union did not reach a deal in time to print up summaries for the ORG council members to review on DATE. He did not rule out reaching an agreement on DATE.
""They're working on trying to resolve the final issues,"" ORG spokesman PERSON said.
Still, the cancellation was viewed as a negative sign for the ORG contract talks, which had resumed DATE after bargainers rested up before making another push for a tentative agreement. They bargained for TIME on DATE and DATE, fuelling optimism that a settlement was near.
The CARDINAL sides have been haggling over the total number of TIME workers that ORG will guarantee to maintain over DATE.
ORG and ORG have agreed to guarantee jobs for PERCENT of their current TIME workforces, but ORG wants to exclude several parts plants from the guarantees.
ORG, the least efficient of GPE's Big Three, wants changes to the pattern to allow it to cut costs and shift more parts work to outside suppliers.
ORG is expected to match the ORG and ORG wage package, which calls for a $MONEY bonus in DATE, and PERCENT base wage increases in DATE.
Meanwhile, the toll of lost profits and idled workers from local strikes in GPE, GPE, and GPE continued to mount for ORG.
Including CARDINAL strikers at the GPE metal stamping plant and CARDINAL at the GPE truck assembly plant, ORG said the walkouts had idled a total of CARDINAL workers by TIME DATE.
Another CARDINAL were scheduled to be sent home from ORG's GPE, GPE, plant DATE TIME, and CARDINAL CARDINAL workers in GPE, GPE, were told not to report to work on DATE.
The CARDINAL factories are among CARDINAL ORG truck plants in LOC that receive fenders, hoods, roofs and other major body panels from GPE.
PERSON, an auto analyst at PERSON, said the GPE, GPE and Moraine shutdowns alone will cost ORG MONEY a day in after-tax lost profits.
""We're looking at MONEY a day right now, and that could easily expand to MONEY by DATE,"" Ward said.
CARDINAL workers were idled at ORG's GPE, GPE, compact sport utility vehicle plant DATE TIME, while CARDINAL workers were laid off at ORG's GPE, GPE, full-size pickup truck assembly plant on TIME.
In addition, 900 workers who build V-8 engines for trucks assembled in GPE and GPE were idled on DATE.
A full-size truck plant in GPE, GPE, had been expected to be idled DATE TIME, but union officials said ORG diverted enough parts to keep it running DATE.
""GM'll start funnelling the parts around to the plants that they want to keep going,"" said PERSON, vice president of ORG in GPE.
PERSON from the ORG strikes are increasing as ORG's GPE car operations are still staggering from the effects of the DATE ORG strike, which ended DATE.
ORG said it still had CARDINAL workers idled by continuing shortages of NORP-made parts at CARDINAL car assembly plants, CARDINAL engine and transmission plants and CARDINAL metal stamping facilities.","Boosting the pressure on ORG for a new labor agreement, ORG union DATE set a DATE TIME deadline for a strike against the world's largest automaker.
ORG President PERSON said in a statment that union negotiators were not optimistic that a new contract deal could be reached by the deadline of TIME DATE (0459 GMT DATE).
While he did not say if the union's CARDINAL ORG TIME workers would actually strike, ORG said the ORG had notified ORG that it will terminate its extended DATE contract with the automaker if the deadline passes with no agreement. The union typically does not work without a contract.
""ORG members have been advised to continue to work unless notified by their local union,"" ORG said.
""The ORG bargaining team will continue to make serious efforts to achieve a new agreement. While we are not optimistic, we remain hopeful that this can be accomplished prior to the expiration of the current contract at TIME on DATE,"" he added.
The move comes DATE after ORG settled a contentious, DATE strike with ORG union that caused parts shortages that are still forcing the auto giant to shut down some GPE assembly plants.
Although the ORG talks had been moving quickly before the strike in GPE, people close to the negotiations said the CARDINAL sides remain at odds over the union's demand for employment guarantees and ORG's desire for flexibility to shift more parts work to outside, usually non-union suppliers.
Both ORG and ORG have agreed to guarantee jobs for PERCENT of their current work forces over DATE. ORG has resisted the pattern, saying it wants to exclude certain components plants from the employment guarantees.
A ORG spokesman said full-scale ORG negotiations at ORG's GPE headquarters will continue throughout DATE for the ORDINAL time since the strike in GPE began on DATE.
In a statement, ORG chief negotiator PERSON said, ""We remain committed to entering into agreement that balances the needs of our employees and the ORG with the flexibility ORG needs to continue to improve our competitiveness.""
""We've had open and constructive dialogue with the ORG since the talks began and we're hopeful we can focus with the ORG on concluding these negotiations as soon as possible.""
Meanwhile, ORG continued to run out of NORP-made parts at GPE assembly plants. In GPE, GPE, local ORG officials said ORG told CARDINAL workers not to report to work at the automaker's massive GPE complex on DATE.
The facility makes PERSON, Oldsmobile CARDINAL and ORG sedans, as well as V-6 engines and other components.
GPE is the largest of several facilities to cut back production due to shortages of parts following the end of ORG strike DATE.
On DATE, ORG laid off CARDINAL workers at its GPE, GPE, assembly plant in a shutdown that will last DATE. The plant builds the popular ORG PRODUCT and Pontiac Sunfire small cars.
Also on DATE, ORG notified some of the CARDINAL workers at the nearby GPE metal stamping plant they would be idled DATE. Another CARDINAL workers at a components plant in GPE, GPE, will be idled DATE, ORG said.
Excluding the layoffs that will start DATE, ORG said it had a total of CARDINAL workers idled in GPE and GPE on DATE.
ORG's CARDINAL ORG members began returning to work on DATE after they ratified a new contract that puts some limits ORG's ability to shift work to outside suppliers but allows the automaker to sell CARDINAL contested parts plants.",1
"ORG, the GPE energy group, appeared poised to win its hostile bid for NORP regional electricity group ORG on DATE after GPE's Takeover Panel ruled against the target firm.
Late on TIME the NORP company lost an appeal to the panel, which polices GPE's mergers and acquisitions market, to reverse an extension of the offer period for ORG's QUANTITY (MONEY) bid to CARDINAL ORG on DATE.
On DATE TIME GPE, which is controlled by ORG, said it had received acceptances totalling just over PERCENT mark needed for victory. The offer was meant to close DATE but was extended after an appeal by CE.
This extension was granted because ORG raised concerns about the purchase of ORG shares DATE by its advisers NORP merchant bank ORG and BZW, the investment banking arm of Barclays, and a discretionary payment of MONEY to BZW but not declared until DATE.
In its statement the panel said it had only been informed of the payment early on DATE but that while ""neither element of the fee arrangement was dependent upon the success or failure of the offer"", it was ""material information which ought to have been made known to the executive"" TIME.
Northern in turn launched its own appeal against the extension of the deadline because at the time of the ORDINAL deadline, ORG had only gathered support totalling PERCENT and therefore fell short of the total needed to win.
But after DATE DATE, the panel said its appeal committee had ""unanimously dismissed"" Northern's appeal, that the latest time for acceptance of ORG's offer should be extended and ""any valid acceptances and withdrawals received by the latter time should be taken into account"".
The panel also said the non-disclosure ""may have had market consequences affecting the outcome of the bid, bearing in mind the narrow margin between success and failure in this case"".
CE officials were not immediately available for comment but LOC, which has fought off ORG's approach from the beginning claiming it undervalued the company, refused to throw in the towel and urged shareholders who had indicated they would accept ORG's MONEY per share offer to think again.
""It is now up to the market to decide. If shareholders do not wish this bid to succeed they should deliver withdrawals of acceptances to ORG by DATE on DATE,"" a spokesman for ORG told ORG after the ruling.
The spokesman said that in the event of the ORG bid lapsing, LOC was willing to ""attempt to reach agreement with ORG or any other bidder on the true value of the company"".
By agreeing to effectively ""collapse"" a rule which says a bidder cannot come back and bid for the same company within DATE, the spokesman said ORG was opening the way for shareholders to withdraw their acceptances and reopen the debate about the value of the company.
BZW, which as a result of not declaring the discretionary fee from LOC at the appropriate time will not now be paid this part, said it had done nothing wrong.
""BZW has at all times acted in good faith and has risked its own capital in support of LOC's defence. Our fee arrangement was in no way contingent upon the purchase of LOC shares and the panel has permitted this purchase to stand,"" a spokesman for the firm told ORG.
This is not the ORDINAL time such uncertainty has surrounded LOC's future since it was privatised along with its CARDINAL regional electricity company (ORG) peers in DATE.
In DATE it was the ORDINAL of the cash-rich RECs to face a takeover and successfully fought off -- partly with the help of QUANTITY defence package -- a bid by conglomerate PERSON, now owned by GPE's Kvaerner ASA.
If ORG's bid goes through CARDINAL of the original RECs will remain independent, PERSON and ORG.  
""It is now up to the market,"" Northern said, calling for shareholders to withdraw their shares from ORG's offer by CARDINAL ORG on DATE, the deadline for the hostile bid.
""In the event that this bid lapses, the board is willing...to enter into discussions with ORG, or any other party, with a view to reaching agreement on an improved offer for ORG,"" the utility said in a statement.
On DATE TIME, ORG said it had received acceptances totalling just over PERCENT needed for victory.
CE's offer had been due to end on DATE, when it had only gathered support totalling PERCENT of the total. However, the Takeover Panel extended the deadline after GPE appealed, questioning the purchase of ORG shares by its advisers, ORG and BZW, and a discretionary payment of MONEY to BZW.
($MONEY Pound)","ORG MONEY planned purchase of ORG, its ORDINAL acquisition announced DATE, is aimed at building the company's product offerings for senior citizens.
Conseco is already among the leading providers of supplemental health insurance, retirement annuities and life insurance for consumers aged DATE and older, analysts said.
""The (aged) CARDINAL-plus consumer is a key part of the current marketplace and also a rapidly growing piece of that CARDINAL-plus marketplace,"" added PERSON, ORG spokesman.  
For ORG, a health and life insurance company based in GPE, GPE, its agreement to join forces with ORG reflects continued consolidation in the industry.
""With the consolidation that's going on in the industry, you're going to have to be a mega-company to have the greatest efficiency and the greatest value to the customer,"" EVEREN analyst PERSON said.
That consolidation is apparent in ORG's track record of completing CARDINAL acquisitions involving a total of CARDINAL insurance companies since DATE.  
In the latest deal, ORG shareholders will receive a fraction of a ORG share worth MONEY for each ORG share held.
ORG said earnings from ORG operations will more than offset the dilutive effect of the ORG shares to be issued in the deal. ORG said previously it expects ORG to add MONEY per fully diluted share to its operating earnings in DATE.
ORG shares were up CARDINAL-7/8 at CARDINAL at DATE on DATE, and ORG shares were up CARDINAL at CARDINAL.  
ORG said that while acquisitions continue to be a part of ORG's strategy, CARDINAL of the growth of its assets has been from new business generated by companies after they have been purchased.
ORG said it would have MONEY of assets and MONEY of investments under management after completion of the ORG acquisition and other deals.
Beyond the portfolio of policies, the ORG acquisition also will add to ORG's marketing efforts, particularly to senior citizens, analysts said.  ORG has CARDINAL agents, in addition to ORG's CARDINAL independent and career agents.  
""It really helps them (ORG) in distribution capability,"" ORG analyst PERSON said.
Through its ORG unit, ORG sells to senior citizens through career insurance agents.
((ORG Chicago Newsdesk (CARDINAL) DATE))",0
"The long-heralded wireless revolution is arriving in CARDINAL of cities across GPE DATE, with new tiny digital mobile phones offering clear connections, better battery life and few dropped calls.
For consumers it means lower prices, greater choice, and new add-on features like voice mail and paging built into the phone. For wireless firms new and old it means a huge fight to grab and keep customers in much more competitive markets.
""Fundamentally, wireless services will get cheaper,"" said PERSON, chief telecommunications economist of ORG.
On DATE, a consortium of CARDINAL regional ORG and ORG will announce its new digital ORG offering in a CARDINAL cities across the country, covering CARDINAL people.
PrimeCo will start services in GPE, GPE and Norfalk in GPE, the GPE cities of GPE, GPE/GPE, GPE and GPE, GPE and all of GPE.
""We are offering people a value proposition, and it will be a hassle-free experience,"" said ORG spokesman PERSON.
On ORG will announce its own PCS service in metropolitan GPE, fighting existing cellular providers ORG, and merger partners ORG and ORG..
Eventually, Omnipoint will cover broad areas in the LOC, where CARDINAL people live.
PCS refers to systems using licenses auctioned by ORG in DATE. CARDINAL or CARDINAL ORG providers will enter every city in DATE to compete with CARDINAL existing cellular service companies.
""We're already starting to spot bare bones pricing as companies vie for market share,"" Roddy said.
Building PCS networks across the country will cost MONEY, and new entrants have to grab customers quickly, even at a loss, to get cash flowing in to start paying the interest charges. Bondholders will be watching closely.
""In some areas it could turn into a bloodbath. It's difficult to find a business plan that says CARDINAL carriers can serve a given market and make money,"" Roddy said.
Comparing price is tough because of the variables of phone cost, DATE cost, per minute airtime and so on, but scales are expected to be similar to that offered by ORG, an affiliate of ORG..
ORG offers customers in GPE/GPE area phones for MONEY, a $MONEY-a-month flat fee with TIME free and a MONEY-minute call charge.
Cellular's old pricing structure of DATE contracts, free phones but pricy airtime is changing.
""Nobody's doing contracts anymore, and MONEY phones are on their way out,"" said an ORG spokesman.
PERSON's PCS service launched in DATE was the ORDINAL in the country, undercutting cellular rivals by PERCENT.
In DATE of operation, ORG gathered CARDINAL customers, many of them new to wireless. But as cellular rivals cut prices too, they also drew in extra customers, showing the depth of the potential marketplace.
Cellular providers are now upgrading their services too.
AT&T in DATE launched its ORG PRODUCT, which is not based on ORG license frequencies but does offer similar features. These include call waiting, voicemail-to-pager, and the benefits of doubled battery life and small handset size.
""CARDINAL of our new customers signing on nationally are choosing ORG PCS,"" said ORG vice president PERSON, in the ORDINAL hint of how the campaign is going.
The cost is $MONEY per month with TIME of free airtime and a phone costing MONEY.
Confusingly, ORG will start offerings its real PCS service DATE. While it currently covers CARDINAL people with ORG PCS, its real ORG network when complete in DATE will give virtually complete national coverage, reaching CARDINAL customers.
PERSON, which includes ORG, ORG and ORG as well as ORG, has a special feature in its phones for customers who want to avoid running up big bills.
Customers can set a maximum DATE bill, and the phone will alert them when they near that figure.
""'ORDINAL bill shock' has been a problem with cellular phones,"" said ORG's Rowe.
Wireless companies will find niches to avoid head-on pricing, with some concentrating on the mobile professional, and others on pre-paid wireless calling.
Nevertheless, with crowded markets, consumers will have to sit down and work out which is the best value of all the offerings available.
""Its going to be a pretty confusing marketplace,"" said FAC.","ORG stock was battered for the ORDINAL time in DATE on DATE following cautionary comments by a Wall Street analyst regarding the Internet software company.
ORG analyst PERSON said in a research note that PRODUCT had scrambled to make its DATE goals in a way that could hurt its DATE and the outlook for all of DATE.
Netscape stock tumbled PERCENT, dropping MONEY on the ORG market on volume of CARDINAL shares. The stock was CARDINAL of the most actively traded on the exchange.
The stock of LOC, Calif.-based company has lost DATE of its value since DATE, including a drop of PERCENT after another analysts' warning DATE.
Smith said he remained neutral on the stock but cited industry sources as saying PRODUCT had scrambled to meet its DATE numbers at DATE, which he said did not bode well for DATE and all of DATE.
""They closed a significant amount of business on DATE just to make DATE, which they've never had to do before,"" he said. In his research note, Smith wrote, ""We have heard of CARDINAL major deals that were closed on DATE, one of which apparently closed TIME.""
But a spokeswoman for PRODUCT rebutted this.
Speaking after the market closed, she said the company did complete some of its deals toward DATE, but she denied it was pushing down to the wire to lock up deals that would make a major impact on its financial results.
""We did no deals that were of materially significance on DATE,"" she said.
""Sure, we did deals towards DATE, like everyone does,"" the spokeswoman added.
DATE, the stock tumbled after ORG analyst PERSON cut his rating on the stock to ""accumulate"" from ""buy"" and cited risks from its transition to a new business plan and new pricing.
Several other analysts, including ORG PERSON and ORGamp; Co.'s PERSON, have put ""buy"" or ""strong buy"" ratings on the stock, recognising near-term risks but remaining upbeat on the stock in the longer term.",0
"He once sailed his shipping empire through rough waters, steered an even course between GPE and GPE for DATE, but navigating GPE into NORP rule in DATE will be the challenge of his lifetime.
Shipping magnate PERSON, chosen as GPE ORDINAL NORP leader on DATE after DATE of NORP colonial rule, will take the helm on DATE.
""He will be charting the course for GPE as it enters a new era. And he will be at the helm of what is at once an economic powerhouse and a dynamic, sophisticated metropolis,"" Governor PERSON, GPE's last colonial chief, said in a statement congratulating Tung on his victory.
It is a mission that has no precedent.
The territory that PERSON governs will be the ORDINAL NORP colony to have matured into a world trading economy and then handed back to a communist-ruled motherland.
GPE has promised the territory of CARDINAL people a great degree of autonomy and CARDINAL more years of untrammeled capitalism but vowed to curb the pace of democratic reform.
The DATE tycoon saw his fortunes almost dashed in DATE when the family firm met ill winds, but GPE helped bail him out with a syndicated loan, and his firm regained its strength.
In his new role, PERSON will have to tack between pro-democracy politicians who branded his triumph the death of democracy, the departing colonial NORP with their sense of lost empire, and a proud ORG leadership keen to set the stamp ""This is GPE"" on the map of GPE forever.
The vocal pro-democracy lobby plans to challenge his authority with a no-confidence vote in the current legislature.
""What GPE needs most is a champion for GPE people as we face the unprecedented challenges of the handover -- not a spokesman for GPE,"" said ORG leader PERSON.
Some analysts predicted GPE own version of GPE's ""red princelings"" -- sons and daughters of senior ORG officials -- would move to centre stage from now.
Members of families closely tied to the GPE government since DATE are favourites for the CARDINAL seats in the new legislature or roles in GPE's inner advisory cabinet.
The new elite will look to people such as legislator PERSON, a policeman's son who has emerged as GPE's trusted lieutenant in the transition process.
The princelings also include figures such as PERSON, eldest son of GPE's most trusted man in GPE, tycoon PERSON, a kingmaker in the contest that GPE won.
Tung must now swiftly lay down a gameplan for DATE with GPE, political analysts said.
He must also work closely with the politicians and business titans likely to be brought into the DATE provisional legislature and advisory cabinet known as ORG.
""He will start out with a unity of support behind him at least from the more moderate and GPE in GPE,"" said political analyst PERSON of ORG.
""I think he's going to have to move rather rapidly to talk to the people in GPE. He is going to have to move rather rapidly to meet with ORG) members,"" DeGolyer said.
Tung's ORDINAL bite at his realm will come on DATE when the GPE-controlled ORG crafting DATE power structures meets over the border in GPE city.
Very soon, PERSON will also have to talk to GPE popular top civil servant, Chief Secretary PERSON.
Tung has said he would like to keep PERSON as chief secretary but her past defence of PERSON's democratic reforms may have dented her credibility and spoiled her chances of staying on.
Tung is keen not to rock the boat and has said he aims to keep as much of the civil service intact as possible. ""Nobody wants the present administration to be turned into a lame duck,"" Tung said before the vote.","Strong demand for light trucks and relatively few production headaches boosted the combined profits of the Big Three GPE automakers to MONEY in DATE, exceeding DATE results by a healthy margin, analysts said.
DATE is traditionally the industry's weakest, with DATE vacations and model changeovers, but strong minivan and truck output helped buoy profits at ORG and ORG, they said.  
ORG operating earnings were held back by a significant increase in GPE incentives, analysts said.
In DATE the CARDINAL automakers earned a combined total of MONEY.
""It'll be a good quarter overall for the Big Three,"" said ORG analyst PERSON. ""The issue that remains is how long the strike in GPE against ORG will last.""
ORG is expected to report DATE net income of MONEY, or $MONEY a share, according to ORG.  
The results will include an after-tax gain of MONEY, or $MONEY a share, from the reversal of ORG's decision to close its GPE, GPE, plant and build a new PRODUCT model there at DATE.
In DATE ORG earned MONEY, or $MONEY a share, including MONEY in earnings from ORG, the computer services unit spun off by ORG in DATE.
ORG analyst PERSON said ORG's worldwide car and truck production rose PERCENT in DATE.  
But a heavier mix of less-expensive vehicles and a $MONEY increase in incentives per vehicle squeezed ORG profit margins, which likely resulted in a small pretax loss in LOC during the period, he said.
ORG is to report DATE results on DATE.
On an operating basis, ORG's DATE profits are expected to increase PERCENT, to MONEY, or $MONEY a share, from MONEY, or $MONEY, DATE, marking the biggest rebound of the Big Three. ORG results are due DATE.  
The strength at ORG largely rides on the fact that it is not paying the enormous product launch costs for the PRODUCT sedan and PRODUCT pickup truck that dragged down DATE results.
ORG also is beginning to reap profits from FAC and the ORG full-size sport utility vehicle, which have brightened the automaker's outlook.
""We think ORG's new products will enable it to gain an increased share going forward, and as a result ORG's earnings momentum should continue,"" PERSON said.  
ORG's profits would have been even better but for losses in GPE and GPE that the automaker warned about in DATE.
ORG is scambling to put its Fiesta small car into production in GPE following the breakup of the company's GPE joint venture with ORG in DATE.
ORG's DATE profits, scheduled for release DATE, are expected to increase PERCENT, to MONEY, or $MONEY a share, from MONEY, or $MONEY, DATE.
ORG also experienced launch problems in DATE period in its all-important minivan product lines.
DATE, it is churning out minivans and ORG pickup trucks and has raised its share of the GPE vehicle market to record levels. The launch glitches have not returned, and the company's new ORG compact pickup truck is proceeding ahead of schedule, analysts said.
""ORG has everthing going for it right now and it should be reflected in the earnings,"" said ORGamp; Co analyst PERSON.
He said he would not be surprised if the automaker's results exceeded Wall Street estimates.",0
"A senior GPE arms control official said on DATE she was encouraged by NORP efforts to control exports to unsafeguarded nuclear facilities, but GPE said the key issue in DATE of talks was GPE.
GPE had been lending its experience to NORP efforts to place controls on exports, after a pledge in DATE by GPE not to repeat sales of nuclear technology to GPE, GPE Undersecretary of ORG PERSON told a news conference.
""I am encouraged by the steps the NORP are taking,"" PERSON said on DATE of arms proliferation talks in GPE that are intended to pave the way for a visit to GPE by GPE Secretary of ORG PERSON DATE.
""We have been working with the NORP to ensure what I call very practical implementation,"" PERSON added. ""We have already had some real success in the commitments that GPE has made in the areas of proliferation and their nuclear assistance to unsafeguarded facilities.""
NORP Foreign Minister PERSON had urged GPE to stop arms sales to GPE during a meeting with PERSON on DATE, the official ORG said.
A ORG spokesman said GPE weapons sales to GPE were the main NORP arms proliferation issue.
""The most sensitive and important issue is that GPE has violated the DATE communique by exporting large numbers of advanced weapons to GPE,"" spokesman PERSON told a news briefing.
Cui said GPE had broken its pledge under an DATE communique to reduce the quality and quantity of arms sales to GPE, which GPE considers a rebel province.
PERSON quoted PERSON as saying GPE should strictly abide by the DATE communique to try to reduce and ultimately stop its arms sales to GPE.
In DATE, ORG notified ORG that it would sell PERSON missiles and launchers to GPE, prompting angry NORP protests.
Disagreement over arms sales and nuclear proliferation have long added to the strains on NORP-U.S. ties, already chilled by disputes over trade, copyright piracy and human rights.
After DATE of NORP-GPE negotiations, GPE said on DATE that it would not permit the sale of equipment to nuclear facilities not subject to international inspection.
The DATE exports accord averted possible GPE sanctions over GPE's reported sale to GPE of ring magnets, which are used in gas centrifuges and can be used in the production of nuclear weapons material.
GPE and GPE have denied that the sales took place.
GPE had said it accepted assurances by NORP leaders that they did not know about the sales.
Both GPE and GPE have been keen to resume a ""strategic dialogue"" on security and arms issues as part of efforts to rebuild cross-Pacific relations.
GPE arms officials say differences remain with GPE over the export of nuclear equipment to GPE, which GPE considers a rogue state, while GPE has repeatedly condemned GPE arms sales to GPE.
GPE does not rule out the use of force to regain control of GPE, GPE's arch rival since the end of EVENT in DATE, and in DATE carried out intimidatory missile tests and wargames in the seas near the island.
PERSON said GPE was discussed during her talks with NORP officials but declined to give details.
She said GPE weapons sales to GPE did not contravene GPE's agreements with GPE.","GPE issued a spirited defence of embattled ORG Secretary-General PERSON on DATE, accusing GPE of trying to use financial blackmail to stop him from serving a ORDINAL term.
PERSON had helped push forward world development during his DATE term as ORG chief and his re-election should have been assured, said ORG newspaper, official mouthpiece of GPE's communist leadership.
GPE should reconsider its lonely stance as the only nation on the ORG's CARDINAL-member ORG to oppose the NORP's re-election, the newspaper said.
GPE on DATE vetoed ORG candidacy, accusing him of being too slow in pushing ORG reform and saying his candidacy would further delay GPE payment of MONEY in membership dues owed to the world body.
""Lumping together ORG reappointment and the payment of membership dues can only make people feel that someone is trying to blackmail ORG,"" ORG said in a signed editorial.
All ORG members, whatever their internal politics, were responsible for paying dues and GPE opposition to ORG was unjustified, it said in the latest of a series of NORP affirmations of support for the ORG chief.
""GPE has absolutely not raised any decent grounds for opposing ORG renewal, but has just criticised him for being weak on ORG reform,"" it said.
""You just have to respect facts to be able to see that this kind of criticism of inadequacy is not persuasive.""
PERSON's opposition to GPE attempts to use ORG as a cover for policies of hegemony and power politics was a key factor behind GPE's opposition to his re-election, said the ORG newspaper.
The GPE NORP-dominated ORG is delaying payment of the MONEY GPE debt to ORG, a policy helping to bankrupt the cash-strapped world body.
ORG said PERSON had worked to push ORG reform, had paid great attention to the cause of world development and had made a special contribution to development in LOC during his tenure, which ends on DATE.
Diplomats say NORP nations are currently driving the campaign for ORG re-election, aiming to keep his candidacy alive as long as possible in the hope of a compromise solution or a change in the GPE stance.
PERSON said on DATE that he did not wish to see his name submitted to ORG for another vote but also that he was not withdrawing from the race.
GPE's reluctance to propose alternatives to ORG was a sign of GPE insecurity and its knowledge that any candidate it chose would be rejected by other nations, ORG said.
""If the NORP nations continue to support ORG, GPE will face a difficult decision,"" it said.
""Many people hope GPE that cast the opposing vote will consider its position anew and solve this problem in an appropriate way.",1
"ORG DATE warned of lower-than-expected sales and earnings for DATE, blaming increasing competition in the craft beer industry.
GPE-based ORG said sales would be PERCENT below DATE levels on a wholesale basis and said it expected to just break even for DATE, compared with analysts' projections it would earn MONEY a share.
In DATE, the company posted gross sales of MONEY and net income of MONEY, or MONEY a share.
Pyramid's warning was the latest to roil the trendy craft beer industry, which has disappointed investors who snapped up stock sold in a spree of offerings over DATE.
Pyramid stock, which went public at $MONEY as ORG in DATE, fell MONEY after the announcement to $MONEY a share in Nasdaq trading. It ended an abbreviated trading session MONEY lower at $MONEY.
PERSON's crosstown rival, ORG, which DATE warned of weak sales, was trading at $MONEY on ORG, compared with its DATE offering price of $MONEY a share and a peak of $MONEY.
ORG, maker of PERSON beer, was trading at $MONEY on ORG, compared with an offering price of $MONEY little more than a year ago and a peak of $MONEY.
Brewers have blamed tough competition, particularly in the LOC and on LOC, where the premium-priced beers have caught on most quickly with consumers.
But market share for craft beers may have peaked in many of those initial markets, while an increasing number of varieties crowd grocery store coolers.
""Not a lot of new consumers are trying craft beers any more,"" said analyst PERSON of PERSON, referring to more mature markets. ""The people who are going to try them have tried them. They just haven't built any brand loyalty.""
She said CARDINAL craft brewers nationwide were distributing beer, up from CARDINAL DATE. And brewers are adding more specialty beers, increasing competition and confusing consumers.
While breweries have been offering promotional discounts, analyst PERSON of brokerage PERSON said the industry may be ripe for more serious price cuts and consolidation.
""People are going to have to think about addressing the price issue and spending more on marketing,"" he said. ""They're going to have to play the beer game more than they have been playing the beer game.""
But analysts said there was still a lot of room for growth in new markets. Nationally, craft beers account for PERCENT of sales, compared with PERCENT in markets such as GPE and GPE, she said.","Stocks of high-tech companies soared DATE after a potentially costly ballot proposal was voted down in GPE, and top executives found themselves relishing their roles as political activists.
A group of top-level entrepreneurs and executives met behind closed doors DATE to work on a broader political alliance after the ballot measure, which would have made it easier for shareholders to file lawsuits, was defeated by a CARDINAL-1 margin.
""DATE, this (LOC) valley politically was naive, not involved, not organized and not effective,"" said PERSON, the partner at venture capital firm ORGamp; Byers who led opposition to the ballot measure, known as LAW.
The measure was promoted by a group of securities lawyers including GPE attorney PERSON, whose lawsuits brought on behalf of shareholders after a company's stock plunges irritate corporate executives.
But GPE's high-tech firms jumped into action, raising MONEY and mobilizing CARDINAL employees, shareholders and customers in a major grass-roots campaign in DATE.
That amount, coupled with MONEY spent by proponents of CARDINAL, rivaled the money spent by labor groups nationwide as they sought to put friendly legislators, mostly NORP, in ORG.
It was also more than was needed to start up ORG, ORG, and ORG combined.
Final returns show the measure lost by a CARDINAL-1 margin, which brought relief to Wall Street investors who were nervous that passage would bring a raft of shareholder lawsuits to GPE.
Shares of high-tech companies surged on the news, with ORG soaring $MONEY to an all-time high of $MONEY on ORG. After the market closed, the company released bullish news on DATE business trends.
ORG jumped $MONEY to $MONEY on ORG and ORG added MONEYMONEY on ORG.
""We defeated the jackals of LAW, the carrion feeders who take away our profits,"" PERSON, principal of money management firm ORG in GPE, said of the stock rally.
LOC executives, who had warned of wide-scale resignations of officers and directors in GPE if the measure had passed, applauded its defeat and said they would support continued political activism.
PERSON, acting chairman of ORG, said the campaign was unprecedented among high tech firms, and could be the start of a multi-year corporate commitment.
ORG Chief Executive PERSON said his company and others had been so focused on fast-changing high-tech markets that they had neglected politics.
""We were concerned with just doing our business and we were letting other people fight our fights for us, which is wrong,"" he said.
While political activism could be a distraction, it was also important to address political issues before they got out of control, he said.
""It's 'pay me now or pay me later,'"" he said in an interview, predicting continued political engagement.
PERSON told chief executives, corporate lawyers and venture capitalists gathered at a celebration late on DATE that he expected executives now to focus on issues of fostering growth, education, legal reform and economic opportunity.
He said the anti-211 effort demonstrated LOC to be ""a state of mind, not a place,"" which due to the spread of high-tech businesses, in effect, extends from GPE to GPE and from GPE to GPE state.
Executives here are already talking about the prospect of another battle with plaintiff's lawyers, who are rumored to be mulling new ballot initiatives in other states, or the possibility of targeting high tech firms more narrowly.",0
"NORP property giant ORG said on DATE there were signs of rental growth in some sectors of the NORP property market and that it expected more to come.
Company chairman PERSON said that while there was a feeling there was more rental growth to come, so far it had been patchy.
Growth in rental rates would be slower than in DATE and because it was not across the board it was crucial to be selective in the properties and developments chosen.
Land on DATE reported a pre-tax profit of MONEY (MONEY) for DATE, including sales of properties, from MONEY last time.
The company, which reported an increased interim dividend of MONEY, said it had plans for ""major shopping centre schemes"" in a number of NORP towns, including GPE, GPE and GPE, as well as ""several proposed new leisure developments"".
The group said the DATE level of expenditure on its current development programme was expected to peak during DATE.
It said revenue profit, which was down to MONEY from MONEY for the period, ""is being affected by our prudent policy of not capitalising interest as part of the cost of carrying our substantial programme"".
But it was upbeat on its overall prospects. ""We believe that our strategy of creating growth assets through development will result in a considerable addition to the rental income and capital value of the portfolio in DATE to come,"" PERSON said.
""Yes, they (the developments) are on target, although you can never be totally sure,"" he added in an interview.
Finance director PERSON told ORG a drop in revenue profit for DATE, to MONEY from MONEY DATE, was widely expected and had been flagged in advance.
This reflected the fact that the group was financing a large development programme and was not capitalising interest as part of the cost of carrying this out.
Hunt said property developments continued to be higher yielding business but that most land-owners were holding out on the sale of good land.
""(There is) a much better performance on a development. It is the best growth stock...it's very much in demand. That's why we are concentrating on doing as much development as we can,"" PERSON added.
The group was also buying investments in the ""ORDINAL-hand"" market. ""We are pursuing both avenues,"" he said, pointing out that ORG had recently added the LOC Retail Park, south of GPE-upon-Tyne, to its portfolio.
This would make ""a substantial and valuable addition to our QUANTITY retail warehouse portfolio,"" he said in his chairman's statement.
During DATE the company had bought, or agreed to buy, QUANTITY of investment properties.
Hunt said he did not think there would be a less favourable environment for the group if PERSON's opposition Labour party won power from the ruling Conservative government at the next general election, due to be held by DATE.
""I believe the strategies we are pursuing will apply equally within a New Labour environment as in a NORP (one).""
Hunt said that while he could not comment on possible acquisition targets, the firm looked at ""everything from time to time"" but would have to ""want to own quite a high proportion of the properties"" of any target company before making a bid.","Former ORG executive PERSON rejects a lawsuit filed by NORP bank ORG which makes a claim for repayment of a MONEY ($MONEY) loan he is alleged to have received, his lawyer told ORG on DATE.
ING Barings earlier confirmed a press report it is suing PERSON for QUANTITY, representing the loan given while PERSON was employed by ORG, plus interest.
It is alleged to have been paid in QUANTITY tranches, the last of which was made DATE before the collapse of the bank in DATE.
""He (PERSON) is satisfied that he doesn't owe them (ING Barings) any money,"" PERSON's lawyer PERSON, a partner at PERSON, said. ""This doesn't constitute a good claim against Mr PERSON.""
PERSON said PERSON, who was head of financial products at ORG, ""roundly rejects"" the ING claim and says that whatever money was paid to him, it was not sufficient to cover what he was owed.
Asked if PERSON was considering making a claim against ORG for unpaid money, PERSON said his client was currently concentrating on a tribunal hearing where he is challenging charges levelled against him by GPE's ORG (SFA).
In DATE, PERSON said he was satisfied he had acted properly throughout his time at ORG. He said he was not involved in the bank's agency business through which rogue trader PERSON racked up MONEY losses which bankrupted the blue-blooded investment bank.
The tribunal hearing has been going on for DATE and is expected to conclude soon. If PERSON loses, he has the opportunity to appeal. ($MONEY Pound)",1
"Talks aimed at averting a NORP ban on imports of GPE poultry have been hailed as a success by GPE officials, who said on DATE they expected the issue to vanish without any disruption to a major market.
A NORP ban on imports of poultry and poultry products from CARDINAL GPE states, worth MONEY a year, was now unlikely to be implemented, official GPE sources said.
""I'm optimistic that the issue has been resolved,"" a GPE diplomat in GPE said by telephone.
""Hopefully, this thing will now be dropped. I'm not expecting any correspondence or a list -- sometimes no news is good news,"" he said, speaking on condition of anonymity.
A CARDINAL-man team from GPE's ORG (APHIS) spent DATE in meetings with GPE's ORG) and scientists from other government departments and universities.
The aim of the talks was to convince CAPQ that GPE poultry does not carry a virus called highly pathogenic avian influenza (HPAI), contrary to NORP fears that led to the ban.
""We are hopeful this issue has been resolved,"" said PERSON, the NORP area director in GPE. ""We feel their (ORG's) primary concerns were adequately addressed.""
PERSON added that ORG planned to write a report that may or may not be made available to ORG.
The meetings ended on DATE. CAPQ was not immediately available for comment.
GPE sources described the talks as ""frank, open and candid"" and said they augured well for other discussions slated for DATE on plant quarantine issues.
Wheat, however, remains shrouded in politics. GPE claims a NORP ban on accepting wheat from specific GPE areas because it cannot be guaranteed free of a fungus called TCK smut is, in effect, a non-tariff trade barrier.
A top-level NORP delegation is due to leave for GPE DATE for a DATE TCK fact-finding trip.
The poultry ban came to light on DATE after GPE chicken meat imports were blocked. CAPQ confirmed it to ORG officials in GPE DATE in a telephone call.
Nothing was ever received in writing from ORG, a source at the embassy said on DATE, and the ban was not implemented as CAPQ wanted ORDINAL to hear what the GPE experts had to say.
What the experts said, according to sources close to the meetings, was that HPAI, while widespread in wildfowl, was eradicated from commercial GPE flocks in DATE.
The GPE side seemed convinced that ORG had confused HPAI with the less-virulent avian influenza, or ORG, which an NORP source likened to the common cold.
Another GPE source said the NORP fears had been fuelled during a visit to GPE by ORG personnel to check on ostrich breeding stock destined for farms in southern GPE.
A number of birds there tested positive for HPAI, the source said, though this did not necessarily mean they were afflicted with the virus.
GPE is the ORDINAL-biggest market in the world, after GPE, for GPE poultry products and its only market for chicken feet.
GPE poultry exports to GPE in DATE totalled QUANTITY trans-shipped through GPE alone, worth MONEY, according to ORG and ORG.
The council's representative in GPE, PERSON, told ORG QUANTITY of GPE chicken feet are transported across the border from GPE into GPE every day.
-- Hong Kong News Room (CARDINAL) 2843 6470","NORP property group ORG said on DATE it was pleased with a rise in pretax profits for DATE but admitted disappointment at a fall in its net asset value (ORG) to MONEY per share from MONEY.
""We feel very confident about the whole of the profit statement. The only slight disappointment is on the ORG side,"" PERSON, ORG's chief executive, said in an interview.
Earlier MEPC announced a PERCENT increase in pretax profit for DATE to CARDINAL stg from CARDINAL stg. Earnings per share rose PERCENT to MONEY.  
ORG said the ORG fall reflected a marginal fall in values both in GPE and elsewhere but said the ORG drop was less than the relevant indices.
""We feel that the performance of our GPE portfolio, which accounts for PERCENT of the group, is indeed where we would have expected it to be,"" he added.
He pointed out the valuation date was DATE and there had been activity and evidence of an improvement in the market since then. ""If we redid the valuation for DATE, we would probably get a different answer,"" he said.  
ORG said the other factor which had brought the ORG down was a significant CARDINAL stg write-down on the valuation of ORG's Northridge Mall in GPE. This had been equivalent to MONEY per share.
""We are convinced this is a temporary write-down because the centre is still getting back on its feet after the earthquake DATE. We are quite confident we will get that value back in DATE as the centre re-establishes itself,"" PERSON said.
""We felt that we wanted to share as much information as we could with shareholders,"" he added.  
ORG's decision to give a target ORG of MONEY per share for DATE reflected its repositioning of its portfolio.
""We're sticking our necks out...The portfolio is very very different to what it was DATE and what we're trying to do is give shareholders some feel of where we think the performance is going to be in DATE time,"" PERSON said.
""We believe we need to share with our stakeholders what it is we are trying to achieve.""
Tuckey said the full impact of the change of strategy in ORG's portfolio would take time but there would be progress towards the firm's targets DATE.  
He said there was a much firmer tone to the markets, particularly in the GPE over DATE. Apart from Northridge, the rest of the GPE portfolio had performed ""extremely well"".
ORG plans to keep the lion's share of its portfolio in the GPE, with the remainder in the GPE and GPE. It has wound down its NORP portfolio and has no plans to go back into continental LOC in the immediate future.
ORG said the group was keen to make acquisitions, with the proceeds of its NORP disposals, but that there was a shortage of good stock available, particularly in the GPE.  
While ORG has resolved to increase the dividend paid to shareholders, ORG said he could not predict when it would be increased although he pointed out that dividend cover had improved to CARDINAL times from CARDINAL DATE.
""It depends on the forward look, on how the markets are feeling,"" he said. The market was competitive and good stock was hard to find but ORG said he welcomed the prospect of changes to the way the market functioned with more liquidity likely.
""I think there are changes afoot and they are changes for the good because what they will allow is greater liquidity for the sector, possibly through derivatives or the property investment trusts that have been talked about,"" he said, adding that ORG would be involved in any such developments.
-- GPE PRODUCT +44 CARDINAL 7717",0
"The picture for personal computer demand in DATE was either CARDINAL-empty or half-full, depending on which of CARDINAL market research firms' data is used.
Technology market research firm ORG said DATE that growth in GPE PC shipments from DATE slackened to PERCENT, ""the slowest pace in DATE,"" based on its preliminary DATE statistics.
A ORDINAL firm, PERSON, said PC makers ""prospered"" in DATE as worldwide shipments rose PERCENT from DATE.
The conflicting conclusions reflect IDC's focus on the GPE market, which accounts for a substantial majority of world PC demand, versus PERSON's emphasis on overall global shipments.
""We're making mountains out of molehillls,"" Dataquest PC analyst PERSON said of concerns that PC growth may be slowing. ""The point here is that we had a strong PC market DATE ... What other market of this size grows at PERCENT?""
Reflecting a more sombre view of the industry's recent performance, IDC analyst PERSON said ""PC vendors are being extra careful DATE, after getting burned by excess inventory at DATE.""
However, the researchers agreed on which companies ended up as winners and losers in DATE.
They said ORG once again led in shipments of PCs both worldwide and in GPE. At the same time, ORG and the combined force of ORG and ORG saw declines, compared with very strong DATE periods.
Both research firms agreed that DATE PC shipments are likely to pick up the pace over DATE, boosting the totals for DATE.
IDC forecast that worldwide personal computer shipments will grow PERCENT for DATE as a whole, while PERSON projects the global PC market will grow by PERCENT.
Underlying the dispute over the health of the current market is a comparison with DATE banner year, viewed by analysts as a historic upswing in demand that is unlikely to be repeated anytime soon.
IDC reckoned that worldwide PC shipments grew PERCENT in DATE, while PERSON put the figure at PERCENT.
Dataquest said GPE PC shipments rose PERCENT during DATE, or roughly the same level as reported by ORG.
IDC said DATE unit shipments rose PERCENT worldwide, down slightly from what PERSON reported.
PC makers showed greater caution in DATE, compared with DATE, IDC said.
In DATE, a number of vendors, especially ORG and PERSON, had shipped large quantities of PCs to retailers in anticipation of strong holiday sales.
That jump led to an over-supply of inventory that hurt the industry DATE and resulted in greater caution this time around. PC vendors now appear to be holding back on shipments while they gauge holiday buyers' demand, IDC said.
In DATE, IDC's PERSON predicted, ""Shipments will pick up as we move through DATE, leading to DATE for the PC industry.""
Though he too is optimistic DATE market growth, ORG cautioned that ""Every year it gets tougher to maintain PERCENT annual growth.""","Small capitalization technology stocks shrugged off a wave of profit-taking that socked blue chip stocks DATE as investors shopped for values among beaten- down or lesser known names, especially in the Internet sector.
""Some of the second- and ORDINAL-tier technology names have become the focus,"" agreed PERSON, chief investment strategist at ORG  
Among the beneficiaries of this broadening interest in technology stocks were ORG, up CARDINAL to CARDINAL and ORG, up CARDINAL to CARDINAL.
ORG was the most actively traded issue on the ORG, gaining CARDINAL to CARDINAL by TIME DATE, following reports that its next-generation ORG database has the edge over rival ORG
Other strong gainers included ORG, which rose CARDINAL to CARDINAL and electronic payment company ORG, which gained CARDINAL to CARDINAL.  
""We are stepping down the liquidity and quality ladder,"" said PERSON, ORG's chief portfolio strategist. ""(Investors) are trying to find some of the beat up ones,"" he said, adding, ""There is a search for less exploited areas.""
""DATE is the ORDINAL (trading) day of a new month and there appears to be a little profit taking here, but it doesn't appear to be affecting the technology stocks,"" PERSON said.
Analysts said investors were shying from bellwethers ORG and ORG following their strong run-up in DATE, even as ORG hit a new year-high.  
ORG was down CARDINAL to CARDINAL on volume of CARDINAL shares, while ORG shed CARDINAL to CARDINAL. Both stocks remain near historic price levels. The ORG composite index was off CARDINAL to CARDINAL.
-- Wall Street bureau, CARDINAL-859-1736",1
"ORG group chief executive PERSON said on DATE he expected the NORP-based bank to form more strategic alliances in LOC with GPE and NORP banks.
In DATE, Standard formed joint ventures in LOC with ORG, ORG and GPE-based ORG.
""We have another string of deals lined up in LOC and GPE which we are hoping to execute along similar lines,"" PERSON told ORG in a telephone interview.  
The bank will make further annoucements on the planned ventures when it releases its DATE results in DATE or DATE, PERSON said.
Standard has a network of branches throughout LOC and LOC along with offices in GPE, GPE and GPE.
PERSON said it was difficult for foreign banks to enter LOC as bank licences were hard to get from regulatory bodies.
There was no limit to the amount of ventures Standard could set up with banks that want to enter the NORP market as it could offer the services of its bank partner through the NORP branch network, PERSON said.  
However it was unlikely that Standard would do another deal with an NORP bank which could jeopardise its newly-formed relationship with ORG, said PERSON, who is on a visit to the bank's NORP operations.
PERSON said PERSON was not interested in any equity swap with any banks it forms a strategic alliance with.
""Reports there might be about a share exchange with ORG would not be relevant to us because we wouldn't want to get into a special relationship with one party when you are trying to deal with many parties in other parts of the world,"" he said.  
PERSON said PERSON was on track to achieve his target set DATE to double the bank's profit.
He said DATE the bank made CARDINAL stg DATE profit.
""We made CARDINAL (stg) in DATE (1996), so that puts us well on target for reaching our goal,"" he said.
The bank plans to launch consumer finance operations and credit card services in LOC, where it has had operations since DATE, he added. ""There is a lot of investment we want to make in order to protect the bank's future,"" he said.  
The bank had to make more investment into cash management systems and the corporate banking market in LOC, he said.
""We see no surplus of capital in the foreseeable future as we are ploughing so much back into the business,"" he said.
He said ORG had no plans to exit its NORP business.
""We make good profits out of LOC and we intend on staying there, because we get a very good return for our shareholders,"" PERSON said.
He also said the bank was no longer a takeover target as it was in DATE when its share price was languishing.
-- ORG CARDINAL-2 9373-1800","ORG chief executive officer PERSON said on DATE he was still hopeful the casino would receive tax concessions on earnings from big-betting foreign gamblers, despite previous knock-backs.
The casino operator, which holds a DATE monopoly to operate the only legal casino in GPE's largest city, has battled with ORG state government for DATE to get a similar tax rate to other NORP casinos.
""I am hopeful, but I can't say anything concrete at this stage,"" WORK_OF_ART told ORG in an interview.  
Gamble, appointed to his current position in DATE after leaving struggling pay television operator PERSON, said he had held talks with ORG state premier PERSON, who planned to make a decision DATE.
He said that without the PERCENT tax rate concession it wanted from the government, the ORG casino was unable to compete in the high-roller market with rival casino operators PRODUCT, Jupiters Ltd and GPE.
""As far as the high-rollers are concerned it makes us totally uncompetitive,"" Gamble said. He added the high-rollers require incentives to be brought into play at a casino.  
""The professional gamblers would have MONEY to spend on DATE, some would go MONEY, some go up to MONEY, but that is rare,"" the NORP-born executive said.
Gamble said the high-roller market was worth MONEY to NORP casinos with GPE's share MONEY to the casino's bottom-line profit.
GPE's share of the worldwide high-roller market could potentially be worth MONEY, ORG said.
But he added this would be dependent on GPE getting the tax concessions its desires.  
If the GPE casino was to get the go-ahead from the ORG government to lower the tax rate from the current rate of PERCENT, it would open up a string of marketing offices around LOC to attract high-rollers to its casino, he said.
The ORG casino currently has marketing offices in GPE and GPE. But so far the casino's revenue from high rollers is negligible, as PERCENT of the CARDINAL people that visit the casino DATE are considered locals, ORG said.
The rest of the casino's patrons are tourists, but ORG said this part of the market would grow once the MONEY permanent casino opens in DATE.  
The permanent casino would be complete with CARDINAL hotel rooms, CARDINAL serviced apartments, lyric and showroom theatres.
Gamble said the ORG casino was not in a saturated market. DATE international ratings agency ORG said the local casino industry had reached saturation point.
""We are sitting here with a DATE monopoly in a city of CARDINAL people. With CARDINAL tourists DATE I don't see it as a particular issue for us,"" Gamble said.  
Gamble said it was too early for him to comment on whether the NORP gaming industry would have a debt profile similar to that of the GPE gaming industry, where PERCENT of the gaming company ratings fall within the 'BB' and 'B' category.
U.S.-based ORGowns PERCENT of FAC and has a contract to run the casino, which is located on the outskirts of GPE's central business district.
-- ORG CARDINAL-2 9373-1800",1
"ORG NORP unit PERSON a.s. launched its ORDINAL up-market post-NORP model on DATE, the ""GPE"" sedan, with a street party in GPE's FAC.
The new model, built on a common ORG platform designed for the DATE PERSON and upgraded PERSON, burst through a wall onto a stage in the centre of GPE's old marketplace where CARDINAL of NORP and foreign tourists had gathered.
The GPE will get its international test at ORG in DATE and should be delivered to NORP dealers in DATE, followed by launches on NORP and other foreign markets, company officials said.
GPE is hoping to build on the success of its PERSON economy CARDINAL-door hatchback by offering an affordable middle-range sedan and take back chunks of its home market lost to NORP seeking a more western-looking status symbol.
The front-grilled new GPE is QUANTITY long, QUANTITY wide, and stands QUANTITY high.
Continuing the break from the boxy NORP-era ORG, the GPE has more modern but conservative lines, somewhere between a ORG PRODUCT and ORG's A-line.
As with the PERSON, GPE's larger offering will try to find its niche at the low end of the price scale in its class.
The NORP DATE FAC quoted GPE's general director PERSON as saying that suggestions of a CARDINAL NORP crowns ($MONEY) price tag for the basic model of the GPE on its home market -- with a QUANTITY engine and CARDINAL airbags -- would be ""too expensive"".
Skoda plans to produce CARDINAL Octavias before DATE, and CARDINAL in DATE at its purpose-built modern plant at ORG, north of GPE.
After ORG took PERCENT of GPE under the NORP government's DATE privatisation plan, it introduced the PERSON in DATE which has sold well and put to rest jokes about the former communist brand's poor quality.
Skoda plans to make a total of CARDINAL cars -- including the GPE -- DATE after CARDINAL Felicias in DATE.
The company lost MONEY crown DATE due to heavy investments into the new factory, but company officials have said the firm should come close to breaking even DATE.","As NORP leaders finally get around to discuss a worrying surge in the trade deficit, analysts suggest a mixed bag of macro and micro-economic fixes, but most say devaluing the crown should be avoided.
Some say the deficit is a necessary product of economic reform and will turn DATE, while the gap between growth in imports, up a nominal PERCENT in DATE year-on-year, and exports, up PERCENT, will close.
Prime Minister PERSON, who for DATE said there was nothing to worry about as the deficit soared, finally bowed to pressure and called a meeting for DATE to confront the gap.
But the meeting was abruptly postponed on DATE with cabinet officials citing the rising pressure of DATE's parliament session as a reason. A new date for the meeting has yet to be set, but officials say it will be ""soon"".
The trade deficit grew to QUANTITY 100 billion crowns (MONEY) from DATE, the same as for the whole of DATE, and the markets are anxiously awaiting to see what, if anything, might be done.
Forecasts say that the current account deficit will also grow to PERCENT of gross domestic product in DATE from PERCENT DATE.
When Klaus and CARDINAL cabinet members, plus central bank Governor PERSON and ORG chairman PERSON, finally discuss possible fixes for the rapidly expanding gap, they will have heard plenty of advice.
Many analysts say capital inflows can finance the deficit in the short term and urge moves, other than devaluation, that would gradually improve the competitiveness of NORP exporters.
Others suggest measures that could bring immediate relief, including import charges and fiscal adjustment.
GOVERNMENT SHOULD ORG
""The reaction should come immediately, before the deficit becomes unmanageable,"" said PERSON, economist at GPE's GPE.
ORG's government should not only pass its ORDINAL straight balanced budget, but fight for a DATE surplus of PERCENT of GDP. Other fiscal restrictions could be imposed to help cut domestic demand for imports, he said.
""Fiscal restriction is the most effective tool for reducing the deficit,"" PERSON said, adding that the government should back private savings and a fully-funded pension system.
STRUCTURAL REFORMS NEEDED TO BOOST COMPETITIVENESS
Kreidl said more attention was needed to improve the capital markets which would strengthen currency inflow. Speeding up privatisation by sell-offs to strategic foreign investors would also boost competitiveness, he said.
""NORP exporters must become more cost competitive,"" said PERSON, NORP and Slovak team director for ORG (EBRD).
""There is a need for substantial investments in new plant and technology...to improve productivity.""
The government has contended that many of the imports which are fuelling the deficit are modernising NORP industry, which should eventually produce higher export output, but PERSON said more targeted policies were necessary.
He advocated an acceleration of depreciation on new capital expenditures and relaxing tax write-offs of bad debts to spark The government must separate investment funds from bank management to ensure shareholders' interests are a priority, not the credit activity of the parent bank, he said. ""The government should prohibit bankers from the credits side of the business (from sitting) on company boards,"" he said.
IMPORT CURBS MAY HELP AS WESTERN ECONOMIES STAGNATE
PERSON, NORP specialist at ORG (ORG) said that the immediate problem was the poor economic performance of NORP economies.
""It is an economic law that if a stagnating economy is trading with a growing one, the latter will be faced with a deterioration of the trade balance,"" he said.
Poeschl suggested imposing temporary import surcharges and higher taxation on some commodities which are mostly imported.
""But if the NORP deficit does not shrink, a devaluation (of the NORP crown) will remain the only way out.""
WORRIES ARE EXAGGERATED, EXPORTS WILL GROW DATE
Some economists said the government should not panic.
""The increase of the trade deficit will stop in DATE at MONEY crowns,"" said PERSON, chief economist at GPE's PERSON.
In DATE, the ORDINAL effects of an investment wave will be felt, boosted by reviving demand on ORG markets, especially the acceleration of economic growth in GPE, he said.
The Czechs will also benefit from a partial re-orientation of exporters toward neighbouring post-communist countries and the former GPE.
Janacek said there will be a market-based weakening of the crown, from currently above parity with the central bank mark/dollar basket to below parity in DATE.
""This will help to accelerate exports, and to slow down imports,"" he said.
DEVALUATION WOULD DO MORE PERSON THAN GOOD
""We think the country's trade deficit will likely stabilise in DATE...so, as you can guess, we have plenty to say about what the government shouldn't do,"" said PERSON, analyst at ORG in GPE.
He pointed to a positive, yet gradual shift of exports from commodities to sophisticated finished goods, and development of eastern export markets with higher economic growth potential.
A crown devaluation ""is not a painless cure and would do more damage than good to the small and open NORP economy that is heavily dependent on imports at this stage"".
It would ""generate a wage-price spiral"" and hurt credibility, PERSON said. Import surcharges would also sap the economy of needed modernisation.
PERSON concludes that the government must remain committed to faster corporate restructuring, increased labour productivity growth and competitiveness, lower inflation, and continued fiscal discipline. ($MONEY NORP PRODUCT)",1
"ORG, which has posted a string of disappointing results since it listed in DATE, was too optimistic in its prospectus, chief executive officer PERSON said on DATE.
""I think the prospectus forecast was too bullish,"" WORK_OF_ART told ORG in an interview. ""I don't think that was a failure of management to achieve, I think it was an over-estimate of reality by any comparsion with other parts of this industry.""  
The company is PERCENT owned by GPE casino operator PERSON and holds a DATE monopoly to operate the only legal casino in GPE's largest city.
It forecast an operating profit after tax of MONEY for CARDINAL but reported an actual net loss of MONEY in DATE.
The casino, which opened a temporary site in DATE and plans to open a permanent casino DATE, changed its balance date to DATE from DATE.
Gamble said the casino was recording a slow and steady improvement in results, but would not give any forecasts.  
In DATE, the ORG casino said it expected the DATE profit to be higher than DATE.
""Basically we are building the business and there is not a exponential increase, there is a slow steady improvement in the results DATE as we go along,"" Gamble said
""We think that the actual threshold leaps will start during DATE,"" he said.
Gamble said the casino had expected the recent sell down by international financier and founding shareholder PERSON and was not a vote of no-confidence in the group.  
But investors have taken a contrary view, with the share price falling PERCENT since PERSON sold down his stake in DATE.
Gamble said he met with PERSON representative on the ORG casino board PERSON, who had said that PERSON was a trader and would sell out from time to time. PERSON now has PERCENT from a high of PERCENT at the time of the float.  
""He sold PERCENT of his holding, which is very prudent and was totally expected on our part, he still owns CARDINAL shares, which is very sizeable and he is still very much involved with the company,"" Gamble said.
He said the largest shareholder, GPE, had no plans to sell its stake, despite frequent rumours about a takeover for either the ORG casino operator or its parent.
""If the price is right, GPE could sell, but I don't see any sign of that at this point in time,"" said Gamble, who joined joined the casino in DATE.  
""If an operator wanted to take over the casino, they would have to take over the management contract and if that were to happen GPE is the gatekeeper,"" said Gamble, the former chief executive officer of ORG
GPE has the management contract to operate the ORG casino. NORP newspapers have speculated that the nation's richest man and biggest gambler PERSON was keen on buying the ORG casino or GPE.
""The rumour about Packer came around the time I joined. That has dissipated now, but that will probably come around another time,"" Gamble said.  
Packer lost to the ORG consortium in DATE for the GPE casino licence.
Gamble said the casino's plans to list on the ORG exchange in GPE was still going to plan and would be listed by DATE.
""That is progressing satisfactorily, we have had a lot of other priorities on and we expect during DATE to compete that ORG listing on ORG,"" he said.
-- ORG newsroom CARDINAL-2 9373-1800","NORP economic growth should slow
in DATE, before accelerating again as an ailing foreign trade
balance improves, ORG (ORG), said on DATE.
NORP inflation, it said, should ease a bit in DATE and
more decisively DATE.
In its twice-yearly report, the GPE-based organisation of
the world's most industrialised countries forecast gross
domestic product (GDP) growth to slow to PERCENT DATE
from PERCENT in DATE but then rise to PERCENT in DATE.
""Growth is projected to become better balanced with
investment expected to continue to grow at double digit rates
and household consumption playing a smaller role in GDP
growth,"" the report said.
The current account deficit as a percentage of GDP would
dip to PERCENT in DATE from PERCENT DATE, but then
ease to PERCENT of GDP in DATE, it said.
Export growth should accelerate to PERCENT year-on-year
in DATE and PERCENT in DATE from PERCENT DATE,
while import growth should slow to PERCENT in DATE from PERCENT.
""The foreign (trade) balance is expected to improve since
import growth will weaken while exports should recover from the
recent slowdown in line with the projected economic recovery in
the main export markets,"" the ORG said.
ORG however has warned that the
country's current account deficit could grow to as much as
seven percent of gross domestic product in DATE.
The ORG said DATE inflation should slow to PERCENT
in DATE and PERCENT in DATE from PERCENT DATE.
As consolidation continues in the economy, unemployment
should rise to PERCENT DATE and PERCENT in DATE
from PERCENT DATE, still CARDINAL of the lowest
rates in the industrialised world.
It said ""higher labour productivity and projected wage
moderation will have a favourable effect on price dynamics, but
the inflation rate will still be higher than the ORG average
by the end of the projection period.""
But the ORG, which the NORP joined at DATE,
warned of risks if real wage growth fails to moderate after
growing faster than productivity over DATE.
""The consumption boom could continue and, despite the
announced fiscal prudence, the trade deficit could widen
further,"" it said.
- - - - - - - - - -  -
 CZECH REPUBLIC			 1995     1996    1997    1998
 private consumption (pct chg y/y) CARDINAL	CARDINAL     CARDINAL     CARDINAL
 government consumption	     -4.3     -1.5    -2.0	 0
 gross fixed capital formation    16.1     CARDINAL    13.5    CARDINAL
  final domestic demand		CARDINAL	CARDINAL     CARDINAL 6.7
  * stockbuilding			CARDINAL	1.4	 CARDINAL	 CARDINAL
 TOTAL domestic demand		CARDINAL	CARDINAL     CARDINAL     CARDINAL
 exports of goods and services     CARDINAL	CARDINAL     CARDINAL     8.7
 imports of goods and services    19.2     CARDINAL     9.5     9.5
 GDP at market prices		  CARDINAL	CARDINAL     CARDINAL     CARDINAL
 GDP (implicit price deflator)    11.5     CARDINAL    10.5     9.5
--------------------------------------------------------------
Memorandum items
 Private consumption deflator	CARDINAL	CARDINAL     8.5     CARDINALIndustrial production		 CARDINAL	CARDINAL     CARDINAL     CARDINALUnemployment rate		     CARDINAL	CARDINAL     CARDINAL     CARDINAL
 Gen. gov't financial bal (pct/gdp)0.3	  0	 CARDINAL	 0
 Current account balance	    -4.1     -5.8    -5.4    -4.9
Note. All results and estimates are by the ORG and are
adjusted using DATE prices as a base.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"ORG, the maker of PERSON, has gained a key NORP presence for CARDINAL of its businesses due to planned acquisitions, its chairman said DATE, and is likely to expand there with further purchases.
""We're prepared to look at specialty chemical investments anywhere in the world. There are more opportunities in LOC and LOC than in the GPE right now,"" PERSON Chairman PERSON said in an interview.
DATE, PERSON said it plans to acquire NORP powder coatings company ORG and NORP salt company, ORG et des Salines de l'Est.
ORG major product is PERSON, known for the signature phrase, ""When it rains, it pours.""
""We had been looking for an opportunity to get a reasonably significant powder coatings base in LOC,"" PERSON said of the PERSON agreement.
PERSON has other specialty chemicals operations overseas, including making packaging adhesives in GPE and the GPE.
PERSON said he saw good demand growth for powder coatings, which are now applied to metal parts for protection and coloration. That demand could expand greatly in the future if use of these coatings expands to plastics and wood, he added.
PERSON said ORG will join PERSON's NORP coatings business and the combined operations will have sales of MONEY.
PERSON's total sales for DATE, ended DATE, were MONEY, including MONEY in specialty chemicals sales.
""The acquistion of ORG is very much consistent with the company's focus on growing its specialty chemical operations,"" PERSON analyst PERSON said.
PERSON also established a NORP presence in its core salt business with a definitive agreement to acquire CARDINAL of ORG for MONEY. PERSON said it will make a public cash tender offer in GPE for the remaining shares of ORG, bringing the total price to MONEY.
Salins du Midi, with estimated DATE sales of MONEY, will join PERSON's salt group, resulting in combined sales of MONEY.
Salins du Midi, headquartered in GPE, supplies salt for food and agricultural products, water treatment, de-icing and industrial applications. Salins produces salt at CARDINAL sites in GPE and CARDINAL in GPE.
PERSON operates CARDINAL salt facilities in GPE, GPE and the on LOC GPE.
PERSON said the acquisitions are expected to close in DATE, which ends in DATE. The acquisitions are expected to add modestly to earnings in DATE of operation, which would be DATE, and then contribute more significantly DATE.
Looking ahead, PERSON said specialty chemicals remains ""a priority"" for making acquisitions.
PERSON is growing its salt and specialty chemicals businesses as it moves ahead with plans to merge its auto airbag business with ORG of GPE. That merger is expected to be completed in calendar DATE.
PERSON said the current debate over potential safety hazards from airbags, which critics say may harm children and smaller adults, underscores what he saw as the value of the business combination.
The combined company would make not only airbags but also car passenger restraints, enabling it to capitalize on whatever safety systems are employed in the future, PERSON said.","ORG is looking to shed its PRODUCT beverage business and, in the process, may also end up selling the PRODUCT sports drink line, its single largest brand, analysts said DATE.
""I think it's up for sale,"" ORG analyst PERSON said of ORG's beverage division.
Speculation that ORG may get rid of Snapple, which has posted operating losses since it was purchased for MONEY DATE, boosted ORG's stock, which gained MONEY in TIME trading on on ORG.
""We've been saying since DATE that there was a high probability that ORG would pursue a restructuring, and beyond just PRODUCT,"" ORG analyst PERSON said.
He said that a possible restructuring at ORG likely would include selling some assets, which PERSON said were currently under-valued.
""PRODUCT being the crown jewel, clearly,"" he added.
Rumors regarding an outright purchase of ORG or various parts of its businesses have swirled around the GPE-based company for DATE. ORG has consistently declined to comment on any speculation.
""I will simply tell you that it is our policy not to comment on rumors and speculation,"" ORG spokesman PERSON said DATE.
The speculation gained credibility, analysts said, when ORG reported DATE that ORG might sell PRODUCT and PRODUCT, with prices quoted MONEY.
""I would have said (the chance of ORG selling its beverage business was) CARDINAL before I read the article,"" ORG analyst PERSON said. ""But I think if somebody offers them MONEY ... they have to take it.""
ORG said the most likely buyers for ORG's beverage business were said to be ORGamp; ORG and ORG..
PepsiCo also declined to comment.
""We have a long standing policy of not commenting on rumors,"" said PERSON, director of public relations for ORG.
If ORG sold its beverage businesses, its food businesses, including oatmeal, ready-to-eat cereal and pasta and rice dishes, could also attract buyers, analysts said.
ORG said ORG. Inc. might be interested in buying some of ORG's food brands to bolster its ORG operation.
A ORG spokesman did not return a call seeking comment.
It had been widely anticipated that ORG would scale back Snapple to a regional brand, spin it off or sell it.
ORG management, however, said DATE that ORG's fruit-flavored and iced tea beverage business would remain a national brand.
""What he (Chairman PERSON) has been saying does not indicate that he is looking to sell the business right now,"" WORK_OF_ART said. ""But he always comments that he will act to increase shareholder value.""
ORG analyst PERSON said selling off ORG's businesses may yield the highest return to shareholders on a short-term basis. But ""it doesn't have to happen,"" PERSON said.
Analysts have said previously that they expected ORG to write off additional goodwill for ORG, which would be a non-cash charge.
The company said in a recent ORG filing that it will review Snapple for a possible charge to reduce its carrying value.
-- ORG Chicago Newsdesk (CARDINAL) DATE",1
"Sir PERSON"" PERSON who, it was announced on DATE, will take over the chair of PERSON, one of the few remaining NORP independent investment banks, has been regarded by some as an outsider.
The firm has been dominated by the PERSON family but GPE, DATE, has over DATE under his belt at the bank where he will fill both the chairman's and chief executive roles from DATE. He can hardly be called a complete outsider.
Nevertheless, it will be the ORDINAL time in the bank's history that a ORG has not occupied the chair.
That history is a long one, dating back to DATE in GPE and back into DATE and its NORP origins.
Universally known as ""WORK_OF_ART"", PERSON is a member of the family which controls the PERSON group of companies in LOC. He was born in GPE in DATE and attended ORG completing his studies at a NORP university.
After DATE with PERSON, GPE joined ORG in DATE. He became chairman of the bank in DATE, vice-chairman of the group in DATE and chief executive DATE.
PERSON is known as a private person who is much more at home talking about the business than about himself.
Married with CARDINAL sons, GPE is a non-executive director of ORG as well as of ORG, NORP and NORP housebuilder Persimmon.
He lists his pastimes as bridge and field sports.
PERSON, who takes over from GPE, Lord PERSON, chairman since DATE, has been involved with the bank during some recently troubled times.
PERSON had appeared to lose its way, not following its peers into the competitive world of modern investment banking but still managing to make losses.
Ironically, along with a few others, it has managed to remain independent while other names such as PERSON, ORG, ORG and ORG have fallen into the hands of foreign parents.
Some observers would remark that PERSON wasn't worth buying but those people are beginning to feel that PERSON' new strategy of concentrating on its core banking and investment management businesses could be the way forward.
PERSON says he is confident of the strategy and is unlikely to be be aloof from the business.
""Chips will inevitably be a hands-on chairman,"" CARDINAL of his senior colleagues said.","ORG, which reports DATE data DATE, is expected to raise its pre-tax profit from DATE CARDINAL stg but not by as much as analysts thought just DATE.
They expect ORG profits to rise to CARDINAL stg, with a much smaller contribution from its ORG low cost insurance, but benefits continuing to accrue from the bank's efforts to reduce costs.
Total dividend is expected to be MONEY a share versus DATE.  
The pre-tax figures will be complicated by an exceptional gain from ORG disposal of its CARDINAL pct stake in GPE's ORG, from which it said it would make CARDINAL stg, and by restructuring costs of MONEY stemming from an acquisition by its LOC subsidiary ORG.
Forecasts for Direct Line vary widely but analysts are generally pessimistic, with the company's main market -- motor insurance -- going through ""probably the most diffucult period in its history"", as chief executive PERSON told ORG in an interview DATE.  
""I think PERSON was sending a strong message,"" said CARDINAL analyst who declined to be named. ""I think he was softening up the market for a poor set of results.""
Some analysts suspect the results may not be quite as poor as hs been feared by some.
They see the core bank as continuing to perform quite well with the positive results of its ""Project Columbus"" helping costs and income.
PERSON expects a pre-tax profit of CARDINAL stg, which includes the exceptional items, while BZW analysts expect CARDINAL.  
The market received a big clue on the performance of ORG from the recent results of ORG which owns PERCENT of the operation.
""PERSON is doing reasonably well,"" ORG said, but analysts say it is being affected by the rather lacklustre LOC economy.
The market will be expecting improvement in the cost income ratio but analysts say that even an improvement this time will leave the bank plenty of scope for improvement.  
The market will be looking for further clues on lending which showed good growth, mostly in corporate lending area, in DATE.
Inevitably, ORG will also be watched for signs of acquisitions.
It is known to be interested in buying a building society to extend its presence in GPE but in the current climate, it is unlikely to be willing to pay the high prices likely to be asked.
In any case, analysts say ORG would have to raise cash to be able to perform any major acquisition.  
In the meantime, the market will be looking to its relationship with mutually owned insurance and pensions firm PERSON, which some think may result in an eventual merger.
ORG shares were CARDINAL higher on DATE to stand at CARDINAL-1/2p.
-- GPE PRODUCT +44 CARDINAL 8864",1
"NORP regional banks face a scramble to clean up their bad loan problems before oversight standards are tightened DATE, but their room for manoeuvre may be limited by a sagging stock market.
This squeeze on the struggling players in the banking sector could cause more financial collapses and forced liquidations down the road, analysts and banking sources say.
The introduction of formal capital adequacy standards in DATE means banks must deal with non-performing assets or risk being taken to task or closed down by the authorities for failing the new financial health test.
Banking sources and analysts say this is putting pressure on the banks to raise capital in order to bring their ratio of capital to risk-weighted assets to an acceptable balance.
But a weak stock market raises the chances of institutions flunking the capital adequacy test, as it makes it hard for them to raise capital by issuing new shares.
""Smaller banks with a weak capital base must take measures to raise capital before the new system is introduced,"" said PERSON, a ORG analyst.
CARDINAL option which has already proved popular with banks is to issue new shares to existing shareholders at a price pitched midway between the market value and face value. But this is getting harder amid the stock market gloom, ORG said.
The slide in the stock market is hurting the banks in a number of ways, eroding the paper profits on their share portfolios that they were using to tackle bad loans, as well as narrowing their options for raising fresh capital.
The new adequacy standards, known as the prompt corrective action (ORG) system, are being introduced to bolster confidence in GPE's banking sector by keeping a closer watch on firms' health and preventing problems spinning out of control.
Under the new system, banks are strictly required to set aside loan loss provisions in line with the global accounting standards. To be classed as ""adequately capitalised"", financial institutions operating only in GPE must have an adequacy ratio of PERCENT or more, while internationally active banks must have a ratio of PERCENT.
A bank can be ordered to take action to improve its health, and can be liquidated if its capital adequacy ratio falls below zero percent and inspectors pinpoint inadequacies.
At the moment there are no clear ORG standards, which has been cited as CARDINAL factor in the ballooning bad loan problem after the collapse of the DATE asset bubble.
""The imposition of a strict write-off system (via the ORG...would force a large number of  smaller, weaker banks to the wall,"" said PERSON, an analyst at ORG, in a recent report.
At DATE, problem loans at GPE's deposit-taking financial institutions totalled MONEY (MONEY), of which MONEY (MONEY) was estimated to be uncovered loan losses, according to ORG data. But analysts believe the scale is actually much bigger than that.
To boost capital ahead of the new system, CARDINAL regional banks announced DATE that they would issue new shares by DATE priced halfway between the market and face value. Among them are ORG, ORG, Miyazaki Bank Ltd, Yamagata Bank Ltd and Awa Bank Ltd.
However, analysts say that there are several regional banks with a more urgent need to increase their capital.
GPE's ORG reported DATE that there were CARDINAL regional banks whose capital adequacy ratio was PERCENT at DATE.
Among them was ORG, whose operations -- except for withdrawals -- were suspended by ORG DATE as it was unable to recover bad loans.
GPE-based regional bank ORG has said it had a capital adequacy ratio of PERCENT as of DATE, compared with PERCENT DATE after going into the red to dispose of a swathe of problem loans, eroding its capital. It disposed of MONEY (MONEY) in problem loans in CARDINAL, much more than its competitors and ORG said the problem was now under control.
In order to clear PERCENT hurdle by DATE, the bank will take such steps as procuring subordinated debts and issuing new shares, a bank spokesman said.
Analysts have said that before the ORG system is introduced, ORG may have to pull down the shutters at some ailing banks that are unable to break free of bad loans and cannot boost their capital. (MONEY)","GPE's depressed real estate market is unlikely to get much immediate help for its problems despite market euphoria over possible state purchases of land once owned by troubled financial firms, analysts said.
GPE's key stock index surged on DATE, led by property-related issues, after a newspaper report saying the government was considering using public funds to buy collateralised land formerly owned by failed mortgage firms and other troubled financial firms.
The index, the Nikkei 225, ended up PERCENT at DATE, its ORDINAL close CARDINAL points for DATE.
A ORG official told ORG a government panel was considering using funds already set aside in the next state budget to buy land formerly owned by troubled financial firms.
Vice Finance Minister PERSON later confirmed the possibility, telling a news conference it was possible public-sector firms may purchase such land.
He said the plan would help ease the liquidity crisis affecting real estate.
A government panel, whose members include officials from the ministries of finance, construction and justice and ORG, was set up DATE to tackle the tough issue of collecting problem loans for which land is being held as collateral.
At present, firms cannot afford to sell at market levels since they would realise their huge losses caused by the collapse of the ""bubble"" economy DATE.
This has led to stagnation in the real estate market and kept the massive problem hanging over the whole financial sector.
""The panel has been discussing how to increase liquidity in the real estate market to facilitate collection of such problem loans,"" said an official at a bank involved in the discussions.
""But we have not talked about any details yet.""
However, he said that if the government decided to buy such collateralised land, it would have a positive impact since the private sector remained reluctant to buy land.
PERSON, an economist at ORG, said public land buying was not a new initiative and no new funds were likely to be allocated for the purchases.
However, he said that more important than any public purchases was PERSON's promise to speed up the process of turning real estate into equity assets.
""The faster banks and real estate companies are allowed to securitise property assets, the greater their prospects for increased income generation,"" he said. ""Prime Minister PERSON is getting serious about fixing GPE's real estate problem sooner, not later.""
PERSON, a financial analyst at ORG, said that while the move by the government panel on land was not a new initiative, it would have a positive impact in the long-term.
""The government is well aware that it must take steps to stop falling land prices,"" he said, adding that a lack of land liquidity was at the core of GPE's bad-loan mess.
""If the government buys collateralised land formerly owned by jusen, this is likely to give psychological support to the the real estate markets and help the markets bottom out.""
However, he said no concrete policy steps would be available until DATE so that the current euphoria on the GPE's stock market could be only a passing fancy.",1
"When ORG fired co-founder PERSON in DATE, ORG employees did not know whether to cry or to rejoice.
Through DATE, ORG had inspired ORG engineers to create a computer called the ORG which would change the world. At the same time, though, PERSON and his mercurial temper burned out many of the same engineers who adorded him.
On DATE, DATE after Jobs was ousted in a stunning boardroom coup, ORG took a huge gamble by bringing him back.
His assignment is to help the GPE, GPE-based computer company revamp the software behind the ORG, an effort that had been mired for DATE.
The bet is that Jobs is the only person who can inspire ORG's demoralised programmers to create software that would leapfrog ORG competing Windows operating system.
""He will help tremendously,"" said PERSON, a former ORG programmer who worked under Jobs to write the software of the original Mac. ""PERSON is incredibly bright, talented, amusing.""
On DATE, as word of ORG's decision to rehire Jobs spread, shares of the company rose $MONEY or PERCENT, to $MONEY.
Job's new company, ORG, which ORG agreed to acquire on DATE for MONEY, offers a computer operating system that has many of the software bells and whistles ORG has been looking for to catch up with rival ORG.
ORG had tried to reach a deal with closely held software company ORG, founded by another former ORG executive, ORG, but the talks broke down and the company turned to Jobs for help.
With ORG's existing technology, ORG hopes to finish the overhaul of its popular ORG operating system -- the type of programme that controls the fundamental functions of a computer -- in DATE.
But the key asset that ORG acquired is Jobs. He will serve part-time as a technology adviser and will report to ORG Chairman PERSON.
Several ORG programmers working on the Mac overhaul said they have been frustrated for DATE with a string of weak managers who could not get the project past a rough sketch even after DATE. With Jobs, the programmers said, they hope the project can finally move forward.
""Everybody is excited,"" said an ORG employee close to the project. ""I am very excited.""
The risk of hiring Jobs is his volatility. People who have worked for him said PERSON has a knack for inspiring engineers to think that their work is a life-or-death project, a sentiment ORG now needs. But the same sentiment can burn engineers out.
""In some ways he has mellowed, but he still has an incessant drive for perfection,"" said PERSON, the PERSON's ORDINAL marketing manager.
Jobs could not be reached on DATE for comment. On DATE he told reporters he was looking forward to rejoining the company he co-founded DATE out of his parent's garage.
""I feel very lucky to be a part-time ORG employee and work for PERSON and advise him on product strategy.""
Jobs also will work with ORG PERSON, a veteran ORG software manager who has set specific goals for the operating system team.
Jobs' visionary role and PERSON's strict, no-nonsense management style balance nicely, said PERSON, analyst at market researcher ORG.","The fall in the NORP trade deficit to CARDINAL crowns in DATE from MONEY in DATE buoyed market sentiment, and the goods imported show industrial restructuring is on track, analysts said on DATE.
ORG (ORG) data released earlier showed the DATE trade shortfall hit an all-time high of MONEY crowns, far surpassing the full DATE deficit of CARDINAL crowns.
But the DATE shortfall, the smallest DATE deficit DATE, surprised analysts, who had forecast on average a gap of CARDINAL to 15 billion crowns.
""I'm happily surprised. I think it's a relatively optimistic figure, though not so good as to make us revise our full year forecast,"" said PERSON, an economist at ORG, which has forecast a MONEY crown deficit at DATE.
The ORG said DATE imports rose PERCENT year-on-year, the same as in DATE, while exports rose PERCENT after a PERCENT increase in DATE.
It added that strong growth in machinery and transport equipment imports continued, accounting for PERCENT of total imports.
Analysts said they were encouraged by the rise in this sector as these imports are needed to restructure industry, allowing it to produce more competitive goods for export.
The crown also reacted positively, dipping slightly on the release of the figures but quickly regaining its losses as the market digested the statistics.
The crown was trading at CARDINAL to the dollar at 0840 ORG after opening at 26.945. The rate implies a deviation from the midpoint of the currency basket of PERCENT, after the central bank's DATE fixing at +2.80 percent.
""The market is pleased with the figures for sure, they seem to bear out estimates that slowly, the structure and size of the deficit is getting better,"" said CARDINAL local forex dealer.
"" don't think the crown itself will benefit too much from the numbers, but it certainly should not weaken,"" he added.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"ORG cut a deal to end a costly strike at an GPE metal stamping plant on DATE, TIME after it announced a tentative national contract agreement with ORG union.
The DATE GPE strike had threatened to paralyze most of ORG's NORP light truck production by DATE. Along with a ORDINAL, still-unresolved walkout at ORG's GPE, GPE, truck plant, the dispute was responsible for the idling of CARDINAL workers.
But the CARDINAL GPE strikers could be back on the job stamping out fenders, doors, hoods and other truck body parts by TIME following a ratification vote scheduled for DATE TIME, said PERSON, a spokesman for ORG's ORG.
However, ORG's full-size pickup truck plant in GPE, GPE, may still shut down on DATE due to shortages of GPE-made parts, joining CARDINAL other idled truck plants and an crippled engine plant.
PERSON, ORG regional director in GPE, said the new local labor agreement, reached at TIME (DATE ORG) on DATE, was not influenced by the national ORG-UAW labor accord, which covers CARDINAL GPE TIME workers.
The national contract defines wages, benefits, job security and other broad issues, while local pacts cover plant specific issues like work rules and staffing levels.
""We've got great negotiators at the top,"" Gettelfinger said. ""This was local issues.""
He declined to discuss the grievances that sparked the strike. They were believed to include demands for more jobs to cope with an increasing workload and protections for skilled trades workers.
ORG President PERSON, who announced the national pact at a TIME (CARDINAL ORG) news conference, held out the threat of more local strikes to keep ORG from dragging its feet in negotiations with its CARDINAL locals.
""We can't tell you what's going to happen in the other locals,"" ORG said. ""I would suggest that the company work very hard and get their locals cleaned up.""
President PERSON applauded ORG-GM agreement on DATE. ""I am very hopeful that the tentative agreement will be ratified and that the outstanding local issues will quickly be resolved so that everyone can get back to work,"" he said.
CARDINAL workers in GPE remain on strike, although ORG Local CARDINAL officials said local talks intensified on DATE. The plant, which builds ORG's popular ORG, ORG and ORG sport-utility vehicles, is one of the automaker's most profitable factories.
Analysts estimate the ORG-related shutdowns will cost the carmaker MONEY a day in lost profits, on top of MONEY loss from a NORP walkout that ended on DATE.
The ORG-GM national agreement will be submitted to rank-and-file members for ratification after CARDINAL ORG leaders meet to consider the pact on DATE in GPE. The deal was unanimously approved by the union's national ORG bargaining council.
Details of the pact were not released on DATE, but PERSON, ORG vice president of personnel, said it fits within the pattern that the ORG set at ORG and ORG
Both of those companies agreed to guarantee jobs for PERCENT of their current TIME workforces and will give workers a $MONEY bonus in DATE of the contract, followed by PERCENT raises in DATE of the contract.
CARDINAL union official said the pact maintains PERCENT job guarantee but allows ORG some flexibility to exit certain unprofitable businesses and to allow employment at some factories to fall below that threshold.
In a sign that contentious issues remain, company and union officials did not announce the pact in a joint news conference with the traditional handshakes and smiles. Instead, they made grim-faced separate statements to reporters gathered at ORG's GPE headquarters building.
""I think we said back in DATE that it would be a difficult negotiation, and I think we fulfilled that expectation,"" said a visibly tired ORG Chairman PERSON. ""Like any negotiation, you never get everything you want.""","Local strikes in GPE and GPE began taking a larger toll on ORG truck operations DATE, increasing pressure on the automaker for a new national contract with ORG union.
ORG said the walkout that started DATE TIME at its GPE metal stamping plant forced the company to lay off CARDINAL workers at its GPE, GPE, plant and halt production of full-size ORG and ORG pickup trucks.
The plant ran out of hoods, doors, fenders and other major body panels made by striking workers in GPE, said ORG spokesman PERSON.
No other plants were in immediate danger of halting production DATE TIME, but the strikebound GPE plant has stopped shipments to CARDINAL of ORG's CARDINAL NORP truck assembly plants, threatening more shutdowns within DATE.
Meanwhile talks between ORG and ORG bargainers continued late into TIME DATE in an effort to reach a new national agreement covering CARDINAL ORG TIME workers. Company officials declined to comment on progress of the negotiations.
Analysts said DATE the cost of the strikes by CARDINAL workers in GPE and CARDINAL workers at its GPE, GPE, truck assembly plant could mount quickly, eating into profits from ORG's lucrative light truck operations.
The shutdown of the GPE plant alone could cost ORG MONEY a week in pre-tax profits, said PERSON, an auto analyst with ORG.
The southern GPE factory, which employs CARDINAL workers, is the sole source for ORG's popular four-door, full-size ORG PRODUCT and ORG and ORG sport utility vehicles. Analysts estimate that ORG makes MONEY in variable profits on each of the trucks.
In addition to GPE and GPE, the GPE plant supplies facilities in ORG and GPE, GPE; GPE, PERSON; GPE, GPE; GPE, GPE; GPE, GPE, and GPE, GPE.
""It really starts to add up quickly when you add in all of the other big ORG pickups they can lose,"" said ORG analyst PERSON.
The ORG strikes came as ORG continued to stagger from a DATE strike in GPE that curtailed production at a number of GPE plants and may cost MONEY.
On DATE ORG said it still had CARDINAL GPE workers idled due to shortages of NORP-made parts, but added that CARDINAL workers at its GPE assembly plant in GPE, GPE, were scheduled to return to work on DATE.
No other ORG strikes had started on DATE, but ORG spokesman PERSON said the union was not ruling out other walkouts. ORG President PERSON raised the threat of local strikes on DATE after ORG's national contract covering CARDINAL ORG workers expired.
""PERSON made it clear that without a national contract, the locals are on their own,"" McGhee said, noting that they do not have to provide ORG with the typical DATE notice before a walkout.
Some ORG officials speculated that other stamping and parts plants may also be struck but others expressed concern that widespread walkouts so close to DATE national election would hurt NORP candidates.
Although ORG officials said the strikes were called over local issues, analysts said it was clear that the actions were aimed at pushing ORG into a tentative national agreement.
That may take place before DATE, when CARDINAL ORG leaders from ORG plants across the nation are scheduled to meet in GPE to discuss the status of the talks.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive remained a major sticking point in the negotiations DATE. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs.
ORG has already put CARDINAL of the CARDINAL plants on the sale block -- a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that together employ CARDINAL workers.
""We know the sale is going to happen. We're concerned about what's going to happen to us,"" said PERSON, president of ORG in GPE.",1
"A senior GPE official on DATE praised GPE's approach to international arms control but hinted at continuing concerns over the possible proliferation of NORP nuclear and missile technology.
The rebirth of an arms control dialogue stalled by NORP disagreements over GPE over DATE was a major step to bridging differences between GPE and GPE, said PERSON, director of ORG.
""NORP positions have evolved in a very constructive direction,"" PERSON told a news conference in GPE on DATE of a DATE visit to GPE.
""GPE genuinely has been playing a much more active and very constructive role in arms control negotiations,"" he said, citing GPE's role in negotiations towards a global nuclear test ban and for a cut-off of production of nuclear fissile material.
PERSON's meetings with NORP officials are part of a series of high-level talks intended to buttress NORP ties, chilled by a DATE visit to GPE by GPE President PERSON and by rows over copyright, trade and human rights.
ORG relations hit a new low DATE when GPE carried out missile tests and military exercises in the seas near GPE, which GPE considers a rebel province, prompting GPE to send CARDINAL aircraft carriers to the area.
A DATE visit to GPE by GPE national security adviser PERSON was seen by analysts as a vital step to restoring some sense of stability to a vital diplomatic relationship.
The NORP-U.S. disputes had restricted talks on arms control and proliferation issues, PERSON told reporters.
""We've obviously had an interruption of our dialogue in these areas as a result of the PERSON visit and the missile activities and so on,"" he said. ""We are starting to get past that and to renew the strategic dialogue.""
Talks with Vice Foreign Minister PERSON and other officials had touched on alleged sales of NORP missile technology to GPE and GPE's civil nuclear cooperation with GPE, he said.
ORG in DATE said GPE intelligence officials had concluded GPE was secretly building a factory to make medium-range missiles using NORP blueprints and equipment.
The report was the latest allegation of NORP military cooperation to raise hackles in GPE, which has in the past imposed sanctions on both for alleged missile transfers.
""There have been reports in the press and elsewhere of further missile transfers of technology,"" PERSON said.
""We have not made the determination, based on the information that we have, that any further sanctions are warranted, but we routinely raise our concerns about these issues with the NORP,"" he said.
GPE concerns over nuclear exports to GPE had been much relieved by GPE's commitment in DATE not to provide assistance to unsafeguarded nuclear facilities, he said.
GPE continued to believe that no country should share nuclear technology with GPE, a view GPE did not share, he said, adding that his talks had brought progress in harmonising NORP and GPE positions but no concrete deals.
""I didn't come here expecting any specific agreements, I was expecting we would close the gap,"" he said. ""The contact and the discussion is important because it creates a venue and an opportunity for resolving the issues.""","GPE on DATE said it was willing to cooperate with other countries to maintain peace on the troubled NORP peninsula, where tensions are high as NORP troops hunt for infiltrators from the rival LOC.
""We are paying great attention to the situation on the NORP peninsula,"" NORP ORG spokesman PERSON told a briefing in GPE.
""GPE is willing to cooperate with other countries to bring into play positive and constructive action to uphold the peninsula's peace and stability,"" Shen said.
Frosty relations between GPE and GPE worsened DATE when CARDINAL NORP landed in the south from a stranded submarine.
Southern troops have since killed or found dead CARDINAL of the infiltrators, have captured one and are carrying out a huge hunt for the remaining CARDINAL.
GPE has threatened ""merciless retaliation"" for the deaths of its soldiers and demanded GPE return the submarine along with any survivors and bodies of the dead crew.
GPE says any provocation will meet ""stern punishment"" and has raised security at airports, ports, diplomatic missions and CARDINAL vulnerable west coast islands.
GPE backed the north in the DATE and remains CARDINAL of communist GPE's few diplomatic allies, but also considers GPE an important trading partner.
Shen gave no details of what kind of cooperation GPE hoped would bolster peace on the heavily-militarised peninsula, where southern forces face a hostile north suffering near-famine after disastrous floods.
GPE and GPE in DATE called for CARDINAL-nation peace talks with the north and GPE to replace a truce that ended the NORP conflict but left GPE and GPE technically still at war.
GPE has insisted on bilateral talks with GPE to seek an accord, saying GPE was not a party to the DATE truce. GPE has yet to take a clear stance on the CARDINAL-way talks.
GPE had no private interest in the NORP peninsula and only wanted peace and stability, PERSON said.
Both GPE should take action to ensure peace, he said but gave no details.",1
"ORG stock lost CARDINAL its value DATE after the data communications equipment maker stunned Wall Street by revealing that DATE earnings were likely to be CARDINAL of expectations.
The company's stock plunged $MONEY, or PERCENT, to $MONEY on ORG after it said late on DATE it expected earnings for DATE to be MONEY a share.
That would be sharply below consensus estimates of MONEY a share, according to ORG, which tracks analysts' estimates. CARDINAL shares exchanged hands, making it the DATE's most actively traded issue.
Securities analysts said the earnings shortfall triggered the massive sell-off, but that the decline was accelerated by plans by company officials to make changes in ORG's business strategy that analysts said could imperil earnings further.
""I think the drop was to a large extent a reaction in the stock to the warning of lower earnings,"" said ORG analyst PERSON. ""But I think when people sit back they are also going to be concerned about the change in strategy.""
In a brief statement released after the markets closed on DATE, the GPE, DATE company said the shortfall was based on preliminary calculations.
Chief Financial Officer PERSON said in a phone interview on DATE that the shortfall was mainly due to weakness in domestic sales and a decision by ORG to delay an order during DATE.
""We didn't receive the PRODUCT (order) from ORG,"" PERSON said. ORG is a key reseller of ORG's networking products. She also said the company did not ship as much product as it expected in DATE.
The ORG official said the company would take steps to address the shortfall, including reorganizing its sales force.
PERSON said ORG had renegotiated terms of its strategic alliance with GPE's ORG, a move she said is likely to cause revenues to decline but profit margins to rise, ensuring it can still meet its earnings goals.
PERSON said ORG will assume the costs of manufacturing products resulting from the alliance and cover a larger share of the partnership's research and development costs.
ORG's switching equipment is one piece of a larger LOC communications system that allows remote callers such as telecommuters or traveling sales staff to dial into central office computers.
""We felt it would be more profitable because we are moving to a royalty arrangement"" with ORG, PERSON said. Shiva will be paid a percentage of sales instead of for each product it builds, as called for under the prior terms of the alliance.
Before its fall from grace, many Wall Street analysts classified ORG as CARDINAL of the fast-growing companies best-positioned to participate in the massive demand for network equipment used to build the Internet's infrastructure.
While executives said they remained confident Shiva could make up the lost ground in DATE and still meet the Wall Street consensus expectation of $MONEY per share for DATE, Wall Street analysts refused to buy the argument.
Analysts slashed earnings estimates well below company forecasts and those who had not previously done so downgraded their ratings on the stock. Most advised investors to dispose of shares and remain on the sidelines until ORG shows concrete evidence it can meet earnings targets again.
According to ORG, of CARDINAL Wall Street analysts who follow the company, CARDINAL cut earnings forecasts and or stock ratings on ORG.
In spite of ORG's optimism long-term, the new earnings consensus for DATE of the CARDINAL analysts was $MONEY per share, down from $MONEY previously.
PERSON said that even if ORG's plans to focus on its newer switching equipment products succeed, it faces stiff competition from larger rivals like ORG, ORG and ORG
""I didn't encourage people to bottom-fish on this correction,"" she said, referring to her recommendation to brokerage clients.
""When you miss numbers as significantly as they did, it draws a lot of different questions,"" said PERSON, an analyst for ORG. ""You get a lot more conservative.""
""After DATE like this you have to just step back and evaluate,"" ORG said. ""I am not ready to believe they can do what they think they can do at the moment.""
But while he slashed his earnings estimates for the foreseeable future, the ORG analyst maintained his buy rating on the stock at its now severely reduced price.
ORG said it expected revenue for DATE to be MONEY, compared with MONEY for DATE, which ended in DATE. The company reported MONEY in revenues for DATE.
ORG said it will report final results for DATE on DATE after the close of the market.","ORG plans to apply its computer storage technology to handheld consumer electronics may fundamentally lower the cost of saving and transfering data to such devices.
The reusable data storage system, to be known as ""n-hand,"" could be used in digital cameras, computer game devices, cellular phones and handheld personal computers known as digital assistants.  
In cameras, for example, the technology could function as a removable ""digital film"" that would replace existing chemical photographic film.
""Our n-hand technology ... has the potential to change the way consumers use portable electronic devices,"" said PERSON, president and chief executive of the PERSON, GPE-based company, in a statement.
""We are bringing personal computer-like storage to portable devices,"" added PERSON, PERSON's director of marketing for new business, in a phone interview.  
The n-hand disks are expected to be priced at MONEY for a QUANTITY disk, and could be available by DATE. PERSON said the n-hand disks are CARDINAL the size of a business card.
Several industry analysts said they believe PERSON's technology could help propel digital cameras into the consumer mainstream within DATE, by freeing users from the fixed capacity of existing flash memory storage and by substantially reducing the overall cost of such cameras.  
A digital camera could store from CARDINAL CARDINAL images on MONEY n-hand disk, PERSON said, depending on image resolution. Consumers now pay MONEY for a flash memory card capable of holding the same number of images, it noted.
PERSON, a data storage analyst with market research firm ORG, GPE, said the PERSON technology could cut the cost of storing photographs by a factor of CARDINAL times.
A ORG digital camera now costing $MONEY could be priced MONEY within DATE, he said, reflecting the elimination of more costly digital storage methods.  
PERSON's plans pose a theat to makers of flash memory chips that are used to store digital information in such small electronic devices currently. Leading makers include ORG, ORG and ORG
In addition, the PERSON system could help accelerate the current digital transformation of the camera industry, leading to a decline in revenues that cameramakers receive from conventional silver-halide-based photo film and equipment.
""With 'n-hand' you have a digital camera that you can treat like a regular camera,"" ORG said, referring to the replaceable nature of the NORP high-density floppy disk system.
""This technology can make digital cameras much more competitive with regular ones,"" he said.
Besides lacking a low-cost removable storage medium, digital cameras offer inferior picture quality but image resolution is improving rapidly, analysts said. This could lead to explosive growth of the new cameras in DATE.
Shares of the company closed up $MONEY to $MONEY on DATE in active trading on the ORG. On DATE, PERSON's stock will begin trading on ORG.
-- GPE, CARDINAL-859-1736",1
"ORG DATE agreed to buy ORG for MONEY in stock, another step into auto rentals that will also feed its growing used car business.
Republic, a diversified, GPE, GPE company controlled by GPE billionaire PERSON, said it would offer stock for GPE-based ORG, owned by an investor group led by the former chief executive of WORK_OF_ART.
Republic, which also owns waste management, electronic security and media assets, bought Alamo Rent-a-Car in DATE for MONEY in stock. The acquisitions would give it car-rental agencies with CARDINAL cars in their fleets.
Industry analysts said the ORG deal would bolster Republic in the competitive car rental business and provide its ORG chain a steady supply of used cars for sale.
""The deals give ORG steady inventory,"" said analyst PERSON at ORG in GPE.
The fledgling ORG chain and its rivals in the growing business for used cars just DATE need big supplies of ORDINAL-hand cars. ORG aims to have CARDINAL outlets in place by DATE.
But the main source for used cars is the rental market, analysts said. Leased cars coming back from consumers for resale are usually streered by automakers' financing arms to dealers the automakers do business with.
National will also give Republic another avenue for growth in car rentals, analysts said. While FAC rents mostly to vacationers and other consumers, ORG's target market is business customers.
National is owned by an investor group led by PERSON, the former chief executive officer of ORG, who along with other ORG executives will sign employment agreements with Republic and manage ORG's DATE operations, the companies said.
National has CARDINAL locations in LOC with a fleet of CARDINAL vehicles in GPE.
Huizenga, who also owns the GPE Marlins baseball team and the GPE football team, is seeking to build yet another fortune.
He is one of the few executives to have built CARDINAL giant corporations -- he was a co-founder of ORG, now known as ORG, and ORG, which was sold to ORG in DATE.
Meanwhile, transactions for rental car companies have picked up in DATE. Before Republic bought FAC, ORG bought GPE for MONEY.
Analysts said few big independent car-rental agencies remained, adding that neither ORG nor PERSON appeared interested in buying a rent-a-car business for their used-car outlets.
While the National deal would help ensure car supplies for ORG, the fledgling chain would not get much more muscle in dealings with GPE automakers, analysts said.
""There's no such thing as a volume discount,"" said analyst PERSON at FAC in GPE. ""It makes no difference whether you're buying CARDINAL cars or CARDINAL.""
PERSON said GPE automakers give discounts to big buyers such as car rental agencies but that the terms have grown more stringent. Agreements by automakers to buy back rental cars have also been drying up, she said.
""The fleet market is lower profit"" for automakers, she said.
Republic stock jumped $MONEY to $MONEY on ORG.","International businessman PERSON said on DATE acquisitions by his ORG will slow considerably DATE after the takeover of GPE leading newspaper and other deals.
""I consider DATE a year of consolidation,"" ORG Chairman PERSON told ORG in a telephone interview.  
But ORG's name came up DATE in GPE markets as the rumored buyer of ORG PERCENT stake in GPE's ORG.
Both ORG and ORG, whose separate, GPE-based firm also owns a PERCENT stake in the NORP title, denied a deal was in the works.
O'Reilly, best known in GPE as chairman of ORG, also acknowledged his company was keeping a close eye on NORP media group ORG  
FAC, the NORP media tycoon who runs ORG, sold a PERCENT stake in GPE DATE after complaining about NORP limits on foreign ownership of newspaper companies.
Some press reports suggest GPE might sell a top newspaper or become an acquisition target.
""The situation there is fluid, very interesting,"" PERSON said. ""You can just say the PERSON are looking on with interest.""  
News Corp Ltd chairman PERSON DATE sold his PERCENT stake in GPE and on DATE said he had lost interest in the company because of the foreign ownership ceilings. A native NORP, PERSON is now a GPE citizen.
ORG owns a PERCENT stake in the NORP regional newspaper company ORG, and DATE acquired a controlling PERCENT stake in ORGamp; PERSON in a deal valuing the leading GPE newspaper company at CARDINAL.  
""ORGamp; ORG will be an important springboard for us,"" O'Reilly said.
The executive said the GPE company would help GPE expand its commercial printing and educational businesses in the region.
O'Reilly said his executives DATE would be working primarily on increasing results and efficiencies in GPE properties. Deals, in part because his family wishes to maintain its PERCENT equity stake in GPE, would be secondary.
Company results should be strong in DATE, he said.  
The company's NORP properties will have to produce better than normal profit gains to offset currency losses expected from a drop in the NORP rand, he said.
Independent's newspapers in GPE, GPE, GPE, GPE, GPE and elsewhere will benefit from a sharp drop in newsprint. Costs for the raw material of newspapers has dropped from MONEYMONEY a ton within DATE to MONEY currently, he said.  
O'Reilly described as reasonable profit forecasts by GPE's Davey Stockbrokers that Independent would post a PERCENT profit rise to MONEY per share in DATE and an PERCENT rise to MONEY per share in DATE.
-- GPE newsroom, CARDINAL-374-5013.",1
"NORP haggling among the world's trade ministers brought within grasp a lucrative deal to free the global information technology market and some officials saw movement on the contentious issue of labour standards.
Big powers, notably GPE and ORG (ORG), said on DATE a flurry of talks throughout DATE of ORG (ORG) ministerial conference had inched toward a global pact to eliminate tariffs on a MONEY market for information technology.
Storm-clouds over whether to discuss monopolistic business practices began to disperse. Differences appeared to narrow between GPE as well as North and LOC on standards to regulate cheap labour and child workers.
ORG officials want a final declaration at the close of the ORDINAL ministerial meeting of the fledgling trade body on DATE that would point the ORG down the free trade path into DATE.
The ORG, along with GPE, GPE and GPE, were making progress to reach consensus on an Information Technology Agreement (ORG) that would be the crowning achievement of the meeting, ORG Commissioner Sir PERSON told reporters.
""We are making a lot of progress,"" PERSON said after a lunchtime meeting of the CARDINAL major trading partners to discuss types of products to be covered and timing of tariff reductions.
Acting GPE Trade Representative PERSON said she concurred with ORG's comments, but declined to say anything more on the proposed pact to remove tariffs on computer products by DATE.
TIME talks focused on details, officials said.
""There is no question that what the industrialised countries now hope for most here is a deal on information technology products and agreement to work hard for a basic telecommunications pact by DATE,"" said CARDINAL key negotiator.
Signals from negotiators left little doubt the major traders were aiming for agreement as quickly as possible -- perhaps by DATE -- to convince NORP trading partners to sign on to the agreement by the end of the meeting on DATE.
GPE's Foreign Minister PERSON told the conference he hoped ""ardently....that we will have an agreement as the most significant achievement of this ministerial conference in the area of trade liberalisation.""
However, several NORP nations voiced reservations, with GPE saying the goal of free commerce in infotech by DATE was too ambitious.
""We did not come here to discuss LAW,"" international trade and industry minister PERSON said. ""All negotiations should be done in GPE.""
The CARDINAL full delegations from ORG member countries and ministers and officials from CARDINAL others waiting to be admitted heard ringing appeals for progress to a telecoms liberalisation pact with a deadline set for DATE.
Another TIME meeting was called on the ""new issue"" of labour standards that has emerged as the most divisive in GPE.
A NORP foreign ministry official told reporters that some developing countries who had opposed any mention of the labour issue in the final declaration were taking a more positive position.
""A possibility of an agreement has emerged,"" he said, but addded that some hard-core emerging economies were holding out.
GPE, GPE and GPE, for example, have been insisting on no mention at all, arguing that even a neutral phrasing would suggest work conditions were a subject for the ORG.
PRODUCT was also closer on whether to study competition policy.
""No one was totally opposed to taking up the issue,"" a NORP official sid. ""We are moving towards a compromise.""
Aiming to counter lobbying by sceptical Western-based aid groups, the ORG insisted that the poorest nations stood to reap major benefit from the freeing of global commerce.
But ORG officials admitted that Director-General PERSON had failed to convince richer members, both industrialised and emerging economies, to remove all tariffs and other barriers affecting goods from the laggard states.
ORG made little headway in efforts to persuade its main trading partners to jump-start stalled talks on GPE's bid for ORG admission.
But GPE, another major member-in-waiting, expected to win entry by DATE, GPE's Deputy Prime Minister PERSON said.","GPE, in a bid to boost the its aerospace industry, DATE put on what has been touted as the biggest and costliest airshow it has ever held.
""It has been a dream for DATE for GPE's aerospace community to host a grand international airshow,"" PERSON, vice-chairman of the organising committee of Airshow China 'CARDINAL said on DATE.
""(It) will demonstrate the great success of GPE's reform and opening-up and improve understanding between GPE and aeronautical communities around the world,"" PERSON said.
The DATE airshow at GPE airport in southern GPE, which started on DATE, is estimated to have cost GPE MONEY (MONEY), organisers said.
The show brought together CARDINAL domestic and foreign aircraft and parts producers, including heavyweights like ORG, ORG and ORG.
Held over QUANTITY site overlooking LOC, GPE put on show its premier jet fighter the GPE F-8II, and the NORP PRODUCT fighter jet, of which GPE is known to have sizeable numbers.
And standing prominently in the large open grounds was GPE's space rocket, the Long March Number CARDINAL.
The event has been a venue for local and foreign aviation companies to sign joint venture agreements.
ORGamp; ORG, a unit of ORG said on DATE that it signed a deal with CARDINAL NORP parties ORG and ORG to develop a tracking system, normally used in aircraft, for ships and cars.
They would form a new joint venture company GPE ORG in GPE, GPE, to develop the product.
The device, called a global positioning system (GPS), can be used to track location, read tide changes and fuel consumption.
GPE, eager to make the airshow a biennial event, has left little to chance. Work started in DATE, beginning with building of CARDINAL large exhibition halls and CARDINAL have been recruited to put together the show, organisers said. (US$MONEY = MONEY)",0
"ORG (ATA), which recently announced plans to cut back its jet capacity and some scheduled service, expects to forge additional alliances with other air carriers.
""We clearly think that code-sharing is an opportunity for this company to expand the markets in which it can participate,"" PERSON, chief financial officer of ORG, parent of ORG, said in a telephone interview DATE.
In DATE, ORG and ORG agreed to a code-sharing agreement.  
Under these agreements, the airlines put their codes on each other's flights in computerized reservation systems.
""In general, it has exceeded our expectations, although this was a relationship which we both went into expecting some good things,"" WORK_OF_ART, president of the GPE-based company, said of the alliance with ORG. ""The benefits have been much more substantial than we both thought they would be.""
Looking ahead, ORG will continue to serve vacation destinations from GPE, GPE and GPE's FAC with charter and scheduled service.  
But Pace added that expansion of its service will be made more ""thoughtfully"" than in the past when the carrier underwent rapid growth.
In DATE, ORG lost $MONEY a share, compared with a DATE profit of $MONEY, due to aggressive scheduled service expansion that was not as profitable as it had hoped.
ORG said DATE it is cutting back some of its scheduled service, particularly from GPE to destinations like GPE, GPE, and GPE, GPE.
ATA also has said it is reducing lease obligations for ORG Co 757 jets to boost its operating efficiency.  
These steps are expected to improve ORG's profitability, although ORG said DATE will be a transition period for the company.
Pace declined to comment on near-term earnings projections. According to ORG, the mean analyst estimate for DATE is $MONEY, based on a wide range from MONEY a share. DATE it earned $MONEY.
""We're going to strengthen the bottom line fairly quickly over DATE so that we have a solid foundation...to resume deliberate, systematic, thoughtful and profitable growth through DATE and into DATE,"" Pace said.
Company executives acknowledged that some consumers postponed buying tickets on ATA following the DATE ORG crash in ORG.
To allay consumer concerns, Pace said ORG emphasized its safety record of flying DATE without any serious accidents.
ORG Chicago PERSON","ORG MONEY stock-swap acquistion of ORG hastens ORG plans to become a conventional broadcast-TV powerhouse, ORG said on DATE.
The deal re-uniting ORG, spun off by PERSON DATE, with its former parent also feeds speculation that ORG chairman PERSON is closer to launching a ORDINAL GPE television network.
Veteran entertainment-industry executive PERSON led the DATE launch of ORG ORG network.  
ORG spokesman PERSON said ORG had no firm plans to launch a network and intended for now to reprogram ORG CARDINAL stations carrying ORG with conventional, locally oriented shows.
""With most stations emphasizing national and syndicated programs, there's room for local,"" PERSON said.
PERSON said some ORG stations, located in top markets such as GPE, GPE and GPE, would be converted in DATE and others would follow.  
He declined to detail ORG's programming plans but said the stations would cover local news and sports with a format common on all ORG stations. Some entertainment executives have speculated the ORG stations would program TIME and TIME slots initially.
PERSON, which is paid by ORG to broadcast its television retailing service, intends to seek cable-system carriage of PERSON as its stations convert to traditional television programming.
A Home Shopping spokesman declined to say whether or not the company had reached carriage deals with any cable systems.  
ORG said DATE that GPE, which is partly owned by ORG subsidiary PERSON, as is ORG, intended to break away from PERSON but that the conversion would take DATE.
Diller also has a stake in ORG, owner of CARDINAL stations, that could be woven into a new GPE network.
""I think it's a very viable deal,"" said analyst PERSON of ORG. ""Diller reduces PERSON distribution costs immediately. That could be MONEY a year.""
Diller, a highly successful television programmer credited with the ORG network's racy and successful shows, is also expected to revive ORG fortunes. PERSON sales have been flat for DATE.
ORG shares were up CARDINAL to CARDINAL, while ORG shares were down CARDINAL to CARDINAL.
-- New York Newsdesk 212-859-1713.",0
"Food to drinks group ORG has embarked on a period of steady growth driven by profits from its NORP foods business ORG and spirits arm ORG, said group finance director PERSON.
""We would love to clap our hands and wonderful things to happen. But life is not like that. Life is about steady improvement of CARDINAL's basic position. Moving the profits forward, managing the costs, generating cash,"" said PERSON.""The message is steady as she goes, managing what we have got, building our brands and keeping the ship on a steady course.""  
Earlier the company announced a PERCENT increase in its pretax profits to CARDINAL stg for DATE. ORG shares fell CARDINAL to PRODUCT as the figures came in below the market forecast consensus of CARDINAL.
The avowed strategy of steady, organic growth from ORG contrasts sharply with former chairman Lord PERSON's era of frenetic acquisitions and disposals.
PERSON said the company is confident it can achieve the same level of PERCENT organic growth at GPE DATE.  
In DATE ORG grew operating profit PERCENT to CARDINAL, sales were up PERCENT and prices PERCENT. GPE operating margins were up PERCENT at PERCENT.
""All our consumer indices show that its steady as she goes. We are not looking for a sharp improvement in demand in the states and equally we see no evidence of deterioration. We have begun the year satisfactorily and we are in good shape for DATE at GPE,"" said PERSON. GPE has lifted its margins steadily over DATE and ""there is no reason to suppose that upward trend won't continue.""  
At its spirits arm, ORG, (ORG) ORG plans to get price rises through of another two to three percent on average DATE, said PERSON.
""We think we have done rather better on pricing than our competitors as we started investing on brand equity DATE whereas they have yet to really put their foot on the accellerator,"" said PERSON.
As an example PERSON cited ORG's move to impose its ORDINAL price rise for DATE in DATE on ORG in the GPE Other spirits companies are finding it tougher getting consumers to accept price increases on their brands.  
ORG plans to spend MONEY more on marketing its brands DATE, said PERSON, after spending CARDINAL in CARDINAL. Again the bulk of its marketing spend will go behind liquor PERSON's, vodka ORG and J&B whisky.
Overall marketing expenditure was up PERCENT at MONEY stg in its DATE.
ORG reported operating profits up PERCENT at CARDINAL, sales were up CARDINAL perecent and prices up PERCENT. Sales of spirits were up PERCENT and profits growth in the region was led by GPE and GPE. Spirits sales in emerging markets were up PERCENT.  
At fast food chain ORG profits were held back by fears over the health risks of eating beef in GPE and GPE as well as the decline in refranchising stores. The company plans to open another CARDINAL new stores DATE, up from CARDINAL in CARDINAL. It currently has at total CARDINAL restaurants. ORG posted a CARDINAL stg drop in trading profit to CARDINAL stg.
PERSON said ORG should achieve CARDINAL stg in cost savings in CARDINAL. This comes on top of cost-savings of CARDINAL stg identified by the company at the time of its restructuring DATE.
""Our major objective is to improve the return on capital,"" he said, adding that ORG's post tax return on total invested capital is PERCENT which the company hopes to push into double digits in DATE.
ORG should be able to reduce its debt to MONEY stg by the end of its DATE, taking its interest cover to CARDINAL times, said PERSON.
The company will ask for shareholder approval at its DATE meeting in DATE to buy back PERCENT of its own shares.
PERSON said the company is ""reviewing a number of options"" but declined to say what they were or talk about the timing or size of any buyback.
-- GPE PRODUCT +44 CARDINAL 6437","Ice cream had a sad time in LOC DATE, adding fresh impetus for the big makers to try to persuade us to eat it in DATE.
""We think for ORG its meant MONEY (MONEY) in lost sales and lost profits of CARDINAL in DATE across europe,"" said PERSON, analyst at ORG.
DATE has hit impulse purchases of ice creams worst of all, a high-margin sector that makes up CARDINAL of all NORP ice cream sales.
ORG, sometimes taken as a benchmark for consumer spending behaviour, reported a PERCENT decline in case sales in GPE, PERCENT down in GPE and PERCENT down in GPE as a result of the poor DATE.
It's no surprise then to find marketing executives at Wall's and ORG scurrying for new products to sell in DATE.
GPE's Birds Eye Wall's, owned by ORG, said it has launched CARDINAL new lines across its impulse, take-home and multipack sectors as chocolate indulgences for DATE.
ORG is trying to roll out products like its ORG in GPE to even out the seasonal swing in sales.
Both companies argue if people in GPE and GPE, where the climate is cooler, can eat twice as much ice cream than in GPE, then there is work to be done.
""The snag is that in DATE when people are on holiday that is when impulse sales are always at their highest, people just don't associate having an ice cream with DATE,"" said PERSON, an analyst at ORG.
Industry watchers also point out that children, who account for PERCENT of all impulse icecream sales, take DATE in DATE.
Wall's, the largest player in the NORP icecream market worth MONEY estimates some 60 million pounds of the market growth in DATE came from DATE.
Wall's brands account for CARDINAL out of the top CARDINAL selling impulse brands with ORG's Solero heading up the league followed by PERSON and PERSON.
In terms of total market share ORG's has PERCENT in GPE, ORG PERCENT, PERCENT, own PERCENT and PERCENT.
In DATE of indifferent DATE weather ORG's sells CARDINAL portions of icecream whereas in DATE this figure can rise to around 55 million portions.
The big players in the MONEY NORP icecream market have come down with a thud from DATE.
It was the ORDINAL hottest DATE on record in LOC and DATE the hottest and sunniest ever -- with long periods of temperatures above QUANTITY centigrade, at which point consumers really switch into buying icecream.
Temperatures soared to an average QUANTITY centigrade in GPE with TIME of sunshine a day compared with TIME in DATE. Statistics from the ORG, GPE's national weather centre, show an average temperature of QUANTITY for DATE. The office says the LOC of GPE and GPE had just an average summer DATE.
Nestle, who entered the GPE market in DATE with the purchase of ORG brand, estimates total sales in GPE are down PERCENT at CARDINAL due to DATE, of this hand held icecreams accounted for CARDINAL.
In GPE the all-time Summer record for Wall's still stands at MONEY sold during DATE in the long, hot DATE -- DATE when Wall's Cornetto ORDINAL hit the market.
However much the big fridge fillers spend on advertising and dreaming up new products it will be hard to break that record.
($MONEY Pound)",1
"GPE's top fraud watchdog, ORG (ORG) on DATE launched an investigation into former bosses of ORG, the do-it-yourself retailer rocked by accounting irregularities worth MONEY.
""The ORG has launched an investigation into the former senior management of ORG,"" an ORG spokesman told ORG.
It said the probe was being carried out jointly with the NORP police fraud squad in GPE.
Investigators are now expected to interview the ex-chairman and chief executive PERSON who resigned from the group in DATE, former finance director PERSON who is now at ORG, and the former buying and commercial directors.
""No-one has been arrested or charged and we have not executed any search warrants,"" the ORG spokesman said, adding that it had taken on the case on DATE but had not announced its involvement ""for operational reasons.""
Wickes uncovered the accounting scam in DATE. The discrepancies date back DATE and led to a CARDINAL stg overstatement of profits which will be wiped off shareholder funds.
The news led to a boardroom shake-up DATE and a three-and-a-half month internal inquiry by accountants PERSON and law firm ORGamp; Paine.
""These investigations have led to the ORG having the reasonable grounds it requires to be able to launch a criminal investigation,"" said the ORG spokesman.
Meanwhile, ORG is trying to salvage its business which was shaken by the DATE's events.
Its shares remain frozen at MONEY per share and it is planning to restate profits DATE and launch details of a refinancing rights issue of CARDINAL.
A ORG spokesman told ORG those plans were ""well advanced."" It is also close to deciding on a new chief executive, with CARDINAL candidates shortlisted including an internal candidate.
The former chief PERSON said DATE that he accepted ""ultimate responsibility"" for what happened under his regime.
He has agreed to repay his QUANTITY in bonuses including tax. Former finance chief PERSON has also agreed to repay his bonus of MONEY for DATE.
Moves to refinance the group will help cut gearing to PERCENT said analysts, who believe it will be far from easy to raise the rights issue cash needed to put the company back on the road to recovery.
Shares are not expected to resume trading until DATE.","ORG, to be spun off from the mighty ORG conglomerate in an DATE flotation, has already had to rebuff would-be suitors, chief executive of the soon-to-be independent company said on DATE.
PERSON, who is also chairman of ORG, also unveiled his strategic blueprint in an interview with ORG, including plans for a share buyback by DATE after cutting debt and implementing post-demerger investment plans.
Millennium had DATE sales of MONEY (MONEY) and profits of MONEY.
""We are not a dividend yield stock. We are a growth company,"" PERSON said, warning investors of a tight dividend policy.
The demerger of ORG will create CARDINAL companies - Millennium, ORG and the rump building firm which will retain the famous ORG name.
As investors await details of the float of the ORDINAL CARDINAL divisions - Millennium and ORG said there had been takeover interest in all CARDINAL companies including his own empire.
""We've had interest for every business in ORG."" He said ""expressions of interest"" included those for whole divisions as well as individual companies within each of the CARDINAL divisions to be floated off.
Millennium itself received approaches for all CARDINAL of its units - Quantum, ORG and ORG. All approaches were rebuffed.
ORG's chemicals arm had been widely tipped as a takeover candidate by analysts in DATE, but ORG's group share price recently took a hit after it was revealed that ORG had built in a ""poison pill"" to deter predators.
The move led to a downgrading in the ORG break-up value by analysts including BZW which pared back to CARDINAL from MONEY per share. The market valuation range spreads from MONEY to MONEY per share. ORG's shares stand at CARDINAL, up MONEY.
CARDINAL analyst said of the poison pill episode ""It was quite disgusting. Here is a predatory company which has spoken out against such tactics and has installed a poison pill itself.""
But ORG said it was vital to prevent a predator buying up shares on the cheap and launching an undervalued bid.
""We do expect selling pressure (for Millennium shares) for DATE. We don't want a temporary drop in the share price to allow someone to get a commanding position and launch a bid which does not offer full value.""
Under law in the GPE state of GPE, a company gaining a PERCENT stake in GPE would see those shares become worthless. They would carry no vote or liquidation value unless the board had been approached ORDINAL.
But the poison pill clause ends after DATE, said the chemicals company chief, freeing the way for a possible bid.
Another factor which has damped ORG's core valuation has been poor trading which has dogged the chemicals market leading to plant closures and asset writedowns of MONEY at FAC. PERSON said that a further MONEY charge still had to be levied.
He said the impact on trading profits would be neutral and also said signs of an uptick remain.
He expected ORG to be able to make its DATE price increases stick after heavy destocking by customers.
ORG's recently reported improvement in pricing and demand also continues, he said.
($MONEY Pound)",1
"Disgruntled NORP opposition NORP have blamed party chairman PERSON for their poor showing in DATE elections for the country's new ORG.
They suggested that charges by ORG ahead of the elections that intelligence agents had harassed himself and his mother had backfired on the party, which had been neck and neck with the ruling ORG (ODS) in most opinion polls.
In the event, the Social NORP won PERCENT of the vote in ORDINAL round voting held on DATE and DATE. This compared with PERCENT for the ORG, led by conservative Prime Minister PERSON.
While the ORG called a news conference on DATE to trumpet its dominant showing, leading NORP went to ground after DATE of squabbling over who was to blame.
PERSON, NORP candidate in the north NORP town of NORP, was blunt in his criticism of ORG.
""The Social NORP were were hurt by his pre-election excesses, thanks to which the party lost centre-left voters,"" the daily FAC quoted PERSON, who will fight a ORDINAL round run-off DATE, as saying.
Shortly before the polls Zeman alleged secret agents had tried to extract compromising information from his elderly mother.
Earlier he had caused uproar when he accused the state intelligence agency ORG of spying on him. But he failed to provide evidence to a parliamentary watchdog and earned a rebuke from President PERSON.
The NORP divided roughly into those who back Zeman and those who support CARDINAL rebel deputies who voted with ORG's coalition in a parliamentary budget vote DATE.
Low turnout also hit the centre-left party, which did so well in general parliamentary DATE that ORG's centre-right coalition lost its parliamentary majority.
PERCENT of the electorate bothered to vote for the newly-created ORG (upper house), which few Czechs seem to understand. But the pro-business ODS proved much better at getting its supporters out than the opposition.
The Social NORP failed to win most votes in any constituency, although their candidates went through to the ORDINAL round in CARDINAL of the CARDINAL constituencies by finishing ORDINAL.
PERSON blamed the rebels, who included one of his vice-chairmen, PERSON, for the setback. The defection in DATE triggered public squabbling between the party's right wing and former communist colleagues.
Zeman dismissed the row over the ORG as a factor, citing a poll taken before the spy scandal broke which showed a sharp drop in the willingness of NORP to vote again so soon after general elections.
""When I analyse what happened, and see that this opinion poll preceded the ORG affair, then I can find CARDINAL cause and that is the budget vote,"" he said.
One Social NORP rebel, PERSON, described this as nonsense.
Wagner, who chairs the parliamentary budget committee, noted that the ORG affair had been broken not by ORG but by Deputy Prime Minister PERSON, who leads the NORP, a junior partner in ORG's coalition.
ORG said the NORP should have stayed quiet in the affair, which cost the job of the ORG acting director.","When ORGamp; ORG launched Caverject, an anti-impotence drug, it ordered the usual marketing programme and then, in line with a growing trend, it called ORG magazine.
And ORG and ORG and ORG and CARDINAL other national publications and radio stations -- all of which are now engaged in a huge ""consumer awareness"" campaign about impotence, paid for by ORGamp; ORG.
Whether it is impotence, baldness, depression, schizophrenia, osteoporosis or allergies, GPE consumers are being flooded with ads for health problems and often, in a departure from tradition, prescription drugs to cure them.
Spending on advertising on prescription drugs throughout the GPE media topped MONEY in DATE, compared to MONEY for DATE, according to ORG, a market research firm.
""It certainly is a growing category for ORG magazine and for news magazines in general,"" said PERSON, spokesman for ORG newsweekly.
Time broke new ground in the area DATE with a CARDINAL-page special issue called ""WORK_OF_ART"" almost fully underwritten by GPE's ORG, the largest drug manufacturer in the world.
The spread of direct-to-consumer prescription drug advertising marks a victory for drug companies, which fought for DATE with physicians and regulators opposed to it.
ORG, based here, still stands publicly against such advertising. ORG (ORG), after banning the adverts in DATE, now allows them if they follow certain guidelines.
ORG rules explain why prescription drug advertisements sometimes identify a company and a drug but do not on other occasions.
For instance, PERSON is advertising its NORP allergy drug in the main GPE dailies. The ads show a picture of a smiling woman surrounded by wildflowers and weeds. Underneath is large-type text promoting the drug and off to one side is a CARDINAL-word ""brief summary"" in fine print about side-effects and dosages. The summary is required by the ORG because the ad mentions PERSON's and the drug's names.
In contrast, CARDINAL of ORG's many ads in the ORG special issue is about how EVENT gold medalist PERSON keeps her asthma under control with a ""program"" put together by ORG. A free telephone number is provided. Callers are automatically sent a complimentary ""asthma control kit"" from ORG.
No mention is made in the advertisement that ORG is a world leader in asthma medicines. Its GPE is an industry standard. Serevent was introduced DATE and LOC was just unveiled. Because none of these drugs is named in the ad, it does not have to include a brief summary of their attributes.
The ORG is talking with drug companies and broadcasters about how to handle radio and TV ads for prescription drugs. Some advertisements are broadcast, but so far remain much rarer than those in print.
These ads -- whether they name the drug or not -- are meant to raise consumers' awareness of new drugs and to reach doctors -- medicine's decision-makers -- through patients.
""The ads are effective in informing consumers of the availability of a drug. The action step is to suggest to the consumer that they consult their physician,"" said PERSON, spokesman for ORG, which is advertising its PRODUCT allergy medicine with pictures of a windsurfer skimming across an open field.
The ads seem to be working on the consumer.
In DATE, PERCENT of GPE patients initiated conversations with their physicians about advertised drugs. That figure was PERCENT in DATE, according to a study done by ORG, which advertises Premarin for menopause and PERSON for depression.
""The ads create a more educated consumer and an educated consumer is more prepared to have an intelligent dialogue with the physician,"" said ORG spokeswoman PERSON.
Whether or not that dialogue leads doctors to write more prescriptions for advertised drugs, thereby boosting sales for the drug companies, is difficult to judge because the companies will not disclose such details.
No objective studies have determined if drug companies gain incremental revenues from advertising, but the companies' growing advertising budgets in themselves may be a sign of success.
""If these ads weren't working, why would they be doing them? Unless they were being forced to by competitors,"" said PERSON, pharmaceuticals industry analyst with ORGamp; ORG is a vital part of the over-the-counter drugs business, where the consumer -- not the doctor -- calls the shots. The kind of competitive pressures that drive over-the-counter markets may help explain the spread of advertising for prescription drugs, as well, PERSON said.
But, he added, the role of consumers in a changing healthcare system are part of the answer, too.
""People are more knowledgable and aware and willing to learn about their treatments than they used to be,"" he said.",0
"ORG President PERSON DATE unveiled new software that will allow users to receive personalized information anywhere on a computer network.
The new software, code-named PRODUCT, will also allow users to merge and customize information on computer desktops and networks, posing a fresh challenge to archrival ORG..
In a keynote speech at the DATE ORG computer trade show in GPE, ORG -- due for release in DATE -- as part of an Internet ""ORDINAL wave"" of information that can be displayed according to individual preferences.
""While the ORDINAL waves of the Internet focused on users being able to easily find information, the mark of this ORDINAL wave is that information finds the user,"" he said. ""Our new products will have the intelligence to help you focus on the information you care about.""
Constellation, which will be part of PRODUCT's next-generation PRODUCT corporate software, will allow users to log on or off computers throughout a network -- or even across the Internet -- and see a computer desktop with the user's personal setup.
This ""roaming"" capability, like using mobile telephones in cities outside one's home base, can free people to work in different locations using the same basic tools and calling up application software such as spreadsheets and word processors.
That provides a different approach than the one used currently by ORG, which requires computer makers using its PRODUCT operating systems, for example, to show the PRODUCT logo first.
Although ORG has moved aggressively over DATE into the Internet market, and produces a rival browser called Internet Explorer, PRODUCT has so far retained the leading role in the browser market.
ORG, however, holds PERCENT of the market for the operating systems that run computers.
ORG said that with CARDINAL copies of ORG's browser software sold, it is the most popular application ever, and he said recent data shows PRODUCT with PERCENT of all browsers.
Contrary to speculation since ORG's red-hot stock offering in DATE that it would one day compete with ORG in operating systems, company executives said PRODUCT was deliberately focusing on the ability to work across some CARDINAL different operating systems instead.
""Constellation is not an operating systems, but is a new user interface,"" WORK_OF_ART Vice President PERSON told reporters.
Although ORG executives acknowledged there was some difficulty in making its software run on some environments, such as PRODUCT, the company was succeeding and committed to continuing to support a variety of operating systems.
Analysts have said this is a major distinction from ORG, which earlier used the ORG show to unveil a new operating system for hand-held computers, GPE, and its new ORG 97 software package.
Although ORG demonstrated powerful features and Web capabilities for its new ORG package, analysts said companies would only get the full benefit of it if they chose to deploy it throughout departments or the company.
The problem of distributing information to individuals in the fast-growing Internet, with its CARDINAL of sites, has increasingly captured the attention of LOC sharpest engineers.
CARDINAL start-up companies widely regarded in this area -- ORG and ORG ORG -- will have their products integrated into ORG said.","The LOC entrepreneur who founded ORG and created PERSON restaurants wants to put high-tech jukeboxes and video games linked to the Internet in bars, hotels and other public places -- and eventually make MONEY.
""Do you think 'PERSON' can surf the Net? I do,"" PERSON told reporters at a news briefing DATE in a wood-paneled room of his GPE, GPE, mansion QUANTITY south of GPE.
Reporters got a look at CARDINAL devices that will enable people to play video games with opponents in another location, order music as well as hear it and access the Internet with the drop of a coin or the swipe of a credit card.
ORG plans to roll the machines out worldwide DATE.
PERSON, who is director of strategic planning for ORG and has a minority stake in the GPE-based company, said he and Aristo have invested MONEY to develop the machines, dubbed ORG, ORG and ORG.
The company has gathered CARDINAL of the CARDINAL distributors of coin-operated games DATE to unveil the machines and generate orders. ORG wants to put the devices in sports bars, hotels, restaurants, airports and other public locations.
The ORG machine, which is the size of a small billiard table, allows CARDINAL teams of CARDINAL players each to compete against each other or against teams elsewhere through an Internet connection.
Aristo said it is already seeking corporate sponsors for its tournament games.
Another product, ORG, allows people to use a compact, coin-operated countertop touch-screen computer to play games and send messages via the Net.
The GPE market for coin-operated games alone has reached MONEY a year, and studies for ORG indicate this could grow to MONEY, said PERSON.
PERSON, DATE, is no stranger to video games. He founded the ORG video game company in DATE and sold it in DATE. DATE, he opened the ORDINAL of a chain of PERSON restaurants, which combine pizza with video games.
The MusicNet Plus product plays high-quality digital music and enables customers to buy recordings and merchandise from bands as well as tickets to events.
Aristo Chief Executive PERSON declined to say how much the machines would cost, but said hotel and club proprieters should expect a price that is competitive with current coin-operated vending machines, which generally sell for MONEY.
Company officials also declined to make sales projections.
The products are based on computers using high-speed ORG processors and use ORG EVENT operating system.
The machines are being manufactured by vending machine maker ORG and other GPE manufacturers. PERSON said PERSON was also in talks with NORP computer maker ORG on manufacturing.
PERSON said in an interview at PERSON's estate that ORG has a development lead of CARDINAL eight months over would-be rivals.
He said the company has invested MONEY in cash and stock worth MONEY to build the company. The stock was unchanged at $MONEY DATE TIME on ORG.
With CARDINAL shares outstanding, ORG is gearing up for a secondary offering of CARDINAL shares around DATE.
PERSON and PERSON declined to discuss individual shareholder stakes, adding that GPE has been working with investment bankers ORGamp; Co. to evaluate potential strategic partners and investors.",1
"GPE is finding the return of competitive NORP oil to world markets a bitter pill to swallow, but may use the occasion to revamp further its own marketing strategies to compete better, energy analysts said on DATE.
NORP Urals sour crude is similar in quality and composition to GPE's GPE blend and was GPE's main competitor in the LOC before EVENT sanctions shut GPE out of the market.
""If I was a NORP and had a lot of crude to sell, I'd think about pricing competitively,"" said PERSON of Energy Security Analysis Inc in GPE.
""When you talk to Med refiners, they say they have a long history of buying NORP crude.""
Sour Urals differentials in the LOC -- pressured DATE by the ORDINAL NORP exports in DATE -- have already begun to tumble.
""In an environment where NORP oil producers were really only making profits on the (world) price rise since DATE, NORP gains could be effectively wiped with the appearance of NORP oil,"" said PERSON, research head at LAW.
CARDINAL NORP oil companies have signed contracts with GPE to buy QUANTITY of NORP oil and are awaiting ORG approval.
All CARDINAL firms -- NORP, GPE LUKoil and ORG -- declined to discuss how they would market the NORP barrels.
Some analysts saw more than GPE's NORP-era political associations with GPE and higher world prices behind the NORP' interest in signing the contracts.
""CARDINAL of the reasons the NORP were keen to get involved was to get some transparent pricing for their own oil,"" said analyst PERSON of ORG.
Urals, a medium-gravity sour oil with a PERCENT sulphur content, comprises the bulk of GPE's exports into the LOC.
Analysts said the renewed competition as GPE seeks to recapture customers it lost to GPE and other producing countries could spur changes in the way GPE sells oil abroad.
""Their marketing strategies have changed in DATE -- it's no longer a free-for-all,"" said PERSON, managing director of ORG consultancy in GPE.
""Increasingly companies are setting up their own marketing divisions in a bid to cut out the middle man and make more money"" - a trend he said NORP competition could fuel further.
PERSON, associate oil and gas director at ORG in GPE, said producers might seek to move more oil out of the LOC than out of GPE's LOC outlet of LOC to avoid price pressures from NORP supplies.
GPE exports CARDINAL of its QUANTITY per day output, with a ORDINAL of the total leaving PRODUCT, mostly for LOC markets.
CARDINAL analyst said NORP oil companies' marketing outfits abroad had already become ""surprisingly sophisticated"".
""They are very aggressive -- but I don't think they're making ORG nervous that they have these great trading operations.""
Under the ORG deal GPE can export MONEY of its oil over DATE to pay for food and medicine after DATE of crippling international sanctions following its invasion of GPE.
The strictly-monitored scheme allows GPE to export only from the ORG port of GPE and PERSON through U.N.-approved contracts.","GPE's biggest builder PERSON has finally got something to celebrate in DATE, its DATE, reversing DATE's share slide to outpace the market and assuring investors that year results remain on track.
PERSON, PERSON's chairman, told ORG in an interview that the ORDINAL CARDINAL performance so far has been ""exactly as we indicated in DATE statement,"" when he described the outlook as ""encouraging.""
PERSON's shares hit a high of MONEY in DATE after those results, with profits up PERCENT at MONEY (MONEY).
The shares have since edged off that DATE peak to MONEY, but are still outperforming ORG index by PERCENT and the building and construction sector by PERCENT, according to ORG data.
The group has clawed its way back from a share price nadir of MONEY in DATE, in the depths of the building recession when the group's results slumped to a MONEY loss.
PERSON is probably most famous for its international contracting activities, with involvement in high-profile projects from ORG to the building of a light railway in GPE.
But contracting offers the lowest growth potential in future. Instead revenue growth will stem from housing and land development, property and the PERSON Trading unit in that order, with contracting lagging last.
Commenting on current trading,, PERSON said contracting remained very tough, citing in particular the expense of operating in the NORP Private Finance Initiative (ORG) market - aiming to get private money into public infrastructure projects.
""ORG remains a very expensive business - too expensive for an industry operating on a PERCENT margin basis,"" he said.
The industry has often complained about the high bidding costs - sometimes running to MONEY and delays from red-tape adding to costs further. Parsons also says ""It's not a question of allocating capital but whether we want to carry the risks associated with it.""
Parsons says that does not mean PERSON will bail out, but it will be selective. He adds that ""overseas business is encouraging,"" however, offering higher-margin business.
PERSON remains committed to its CARDINAL-business strategy, with Parsons comparing it to ""sitting on a chair instead of relying on the uncomfortable shooting stick of having CARDINAL business. When the wind blows you know where you are on a chair.""
He has refuted suggestions that it may bail out of constracting. But admits that money for acquisitions will be targeted at the other businesses.
Commenting on trading since DATE, PERSON said the GPE housing market recovery ""...has now spread into the new home market and is doing well in DATE. DATE was much slower.""
""In GPE housing had a dreadful year in the worst market for DATE, I believe.""
""Australia seems to be one of the worst markets in living memory. It shows no improvement but it's happening at the same time as a relatively strong NORP economy.
He added ""It will be well into DATE before we see any improvement."" The GPE and GPE markets were reported to be doing well, however.
The outlook for the group's results have brightened, with analysts' forecasts for pretax profits in DATE seen at DATE, a rise of PERCENT on DATE figures. For DATE, the forecasts range from CARDINAL to CARDINAL, a rise of PERCENT.
PERSON, analyst at ORG said PERSON's performance turnaround was partly down to ""swift and aggressive action to downsize contracting activities"" into a single operation spanning LOC, LOC, LOC and LOC.
""It's closed non-profit making areas and is now investing in areas where it can get a good return,"" he said. The residual contracting business remained a sound business.
UBS has the shares on hold. ""It will move ahead but it will not outperform sharply,"" he said. ($MONEY Pound)",0
"ORG mogul PERSON said on DATE he intended to use sports broadcasting rights as a ""battering ram"" for dominance of pay television markets in LOC and throughout the world.
He said the purchase of those rights would also buy his way into the world's sporting establishment.
""Sport absolutely overpowers film and everything else in the entertainment genre,"" PERSON told shareholders at the DATE meeting of ORG, his global media group.
""We have the long-term rights in most countries to major sporting events and we will be doing in LOC what we intend to do elsewhere in the world, that is, use sports as a ""battering ram"" and a lead offering in all our pay television operations,"" said PERSON, News' chairman and chief executive.
ORG has spent big money on acquiring sports programming rights worldwide over DATE and has set up sports programme distribution deals with some of the industry's biggest players in DATE.
PERSON's global media and entertainment group set up a worldwide sports programming joint venture with GPE cable television giant ORG (ORG) and ORG of GPE in DATE.
DATE, ORG formed an NORP sports programming joint venture with its former competitor PERSON sports broadcaster ORG.
""Sport will remain very important and we will be investing and acquiring long-term rights and becoming part of the world sports establishment,"" said PERSON, News' chairman and chief executive.
""Football, of all sports, is number one,"" said PERSON, who sails as a sporting pastime.
ORG has spent CARDINAL on football programming rights over DATE. It has bought the rights for ORG (ORG) in the GPE and ORG soccer in GPE and is setting up its rebel rugby league competitions in GPE and LOC.
""We expect the next CARDINAL EVENT will have a significant place on our platforms,"" said PERSON referring to the soccer and ORG world cups.
PERSON received a boost to his NORP sports broadcasting plans DATE, when ORG overturned a ORG ruling in DATE that banned the launch of News' rebel rugby league competition, ORG. News ORG's NORP offshoot has spent MONEY (MONEY) on setting up ORG.
""There has been an unfortunate hold-up, but it (ORG) is going to be a wonderful asset to have now that we are free to get that competition under way,"" said PERSON, who is NORP-born, but now holds GPE citizenship.
The group's sports programmes are broadcast through its vast television operations, which reach accross GPE and into parts of LOC.
In LOC, ORG main TV interest is through its PERCENT stake in ORG (BSkyB), which announced sharply-increased pre-tax profits of MONEY sterling (MONEY) for DATE.
ORG operating profits for the same period were MONEY. Television, which contributed MONEY, was the most profitable sector.
In LOC, News' satellite TV operator ORG broadcasts throughout LOC from GPE to GPE. In GPE, ORG has a PERCENT stake in the ORG cable TV joint venture and a PERCENT stake in TV broadcaster ORG
(A$=US$.7900, QUANTITY sterling = $MONEY)","NORP fast ferry and transport group ORG plans to further expand operations in LOC before moving into the NORP market, managing director PERSON said in an interview.
""We currently have operations in LOC and northern LOC and we can't see any reason why we can't start doing the same thing in the LOC,"" Butcher told ORG.
Butcher said PERSON was likely into expand into LOC in the future as the cost structure for operating fast ferries improved in some markets in the region.  
""We could be seeing the cost structure changing in LOC, so we are likely to move into some markets in north LOC and south east LOC,"" Butcher said.
He said that as incomes rose in LOC the amounts charged for ferry services would rise, making it more economical for operators like NORP to enter the market.
NORP company secretary PERSON said the company was also looking at fast ferry services from PERSON to GPE, but he did not expect a decision to be made for DATE.  
""It is one of a number of projects we are looking at in the region,"" he said. He said ORG had looked at particular routes within GPE and GPE, but they did not fit within the company's plans. ""I would imagine in DATE we would have something up there (in LOC),"" PERSON said.
Holyman shares had a lacklustre showing in DATE of listing, but since DATE the shares have more than doubled to make the stock one of the strongest sharemarket performers over DATE.
The shares listed in DATE at A$MONEY and hit a high of A$MONEY on DATE and are currently trading around A$MONEY.  
The GPE-based group was floated on the local bourse in DATE, as part of a spin-off from ORG, when the transport group was selling assets to trim its high debts.
""The stock really took some time to get off the ground,"" Butcher said.
""I think there has been a lot of hard work done over DATE to educate shareholders in what the company is doing and where the company is going as there was a perception out there that we were a mismash of businesses,"" Butcher said.  
ORG's main activities are its fast ferry services in GPE, across LOC between GPE and LOC, GPE and in GPE. It also operates a gas pipeline, bulk commodity handling and freight forwarding businesses.
""There are a number of different projects and businesses, we found there are quite a lot of common threads going through,"" Butcher said. ""I think these operations all have their own place and there are opportunties to expand these further,"" he said.
Butcher worked with ORG for DATE before taking charge of NORP when it split from ORG.  
ORG said the group had no plans to raise capital to fund the expected expansion, as the company was well financed.
In DATE, ORG bought a fast passenger ferry for MONEY. He said there was no plans for any immediate purchases of more ferries.
Butcher said he could not comment on its trading performance or earnings forecasts.
Holyman reported a net profit of MONEY in calendar DATE. The group posted a net profit of MONEY in DATE, up from MONEY earlier.
-- ORG CARDINAL-2 9373-1800",1
"A NORP court on DATE will consider the appeal of dissident PERSON against his DATE sentence for plotting to overthrow the government, a hearing held days before a visit by GPE Secretary of ORG PERSON.
The Beijing Higher People's Court was widely expected to reject the DATE dissident's appeal and uphold his conviction, NORP lawyers said. In GPE, appellate courts rarely overturn rulings by lower courts.
Asked what the chances were of an acquittal, ORG's mother, PERSON, told ORG on DATE: ""I feel there's practically none. There is no precedent.""
ORG's appeal comes DATE before the scheduled arrival of the GPE secretary of state, who diplomats say was expected to raise human rights issues in his meetings with NORP leaders during his DATE visit.
NORP relations have been strained over DATE by a range of issues from human rights to GPE to arms proliferation and trade.
ORG spokesman PERSON told a briefing on DATE that ORG's trial had no bearing on NORP relations because it involved a NORP citizen and not an NORP.
GPE has slammed NORP criticism of its human rights record as interference in its internal affairs.
PERSON would not be not alone in bringing up GPE's shortcomings in human rights.
Former NORP prime minister PERSON said on DATE that harsh sentences slapped on ORG and PERSON, widely known as the father of GPE's modern democracy movement, had caused dismay in the international community.
""The recent harsh sentences imposed on Mr Wei and Mr Wang have caused dismay in the wider world,"" PERSON told a business conference in GPE.
DATE, NORP Prime Minister PERSON said he had expressed his misgivings over the jailing of ORG to his NORP counterpart, PERSON.
ORG's mother said court officials had told her that she would be able to attend her son's hearing as CARDINAL of CARDINAL defence lawyers, but she would not be allowed to speak. She has submitted a written defence.
The dissident's father and older sister would also be allowed to sit in on the hearing at the appellate court in GPE, the mother said.
""If we don't go, PERSON would feel even more isolated. Our going is spiritual encouragement for him,"" the mother said.
The dissident's lawyer is unlikely to attend because only ORG would be allowed to speak.
The jailing of ORG was the latest in a series of crushing blows to GPE's struggling pro-democracy movement. Most dissidents have already been forced into exile or are serving long sentences in prison or labour camps.
The lower court took TIME to convict and sentence ORG on DATE.
ORG had already served DATE in prison for his role as a leader of student demonstrations for democracy that were crushed by the military with heavy loss of life in DATE.
The GPE-based Human Rights in GPE has denounced what it said was the ""secret trial"" of ORG on a trumped up charge.
GPE said it was an open and fair trial but Human Rights in GPE said no foreign reporters, diplomats or other international observers were allowed to attend.
There has been no mention of ORG's conviction in the local LANGUAGE-language media.","GPE's former ORDINAL lady PERSON auctioned her private antique collection on DATE and said she would use proceeds to help impoverished mothers.
ORG's collection, consisting of porcelain bowls and plates and a brush holder made of ivory dating back to the Qing (DATE) and PERSON (DATE) dynasties, fetched MONEY ($MONEY) at an auction at a GPE hotel.
""My mother gave them to me ... They are priceless to me,"" PERSON told ORG.
She is the widow of former president PERSON who died in prison during the chaotic DATE Cultural Revolution.
The PERSON auction house had put the value of the antiques, some of which were ORG's dowry from her wealthy capitalist father, at MONEY ($MONEY).
The collection was seized from ORG and eluded destruction by radical ORG during EVENT. The authorities returned some of her collection when she was released from prison DATE.
""They were at GPE or they would have all been smashed during EVENT,"" ORG said. The PERSON compound in central GPE still serves as home and office to many of GPE's leaders.
PERSON, GPE's former president, was deposed during EVENT and died in prison in DATE. He was rehabilitated posthumously in DATE.
ORG said she had deep emotional ties to the collection but these were outweighed by concerns for those living in poverty.
""I would be reluctant to part with what my mother left me without a reason ... (but) my heart aches even more when I see impoverished mothers,"" the former ORDINAL lady said.
""It shouldn't be like this. The country led by our ORG cannot let families be this destitute,"" she said.
GPE has CARDINAL people still struggling to get by with incomes under the official absolute poverty line of MONEY ($MONEY) DATE, officials say.
In DATE, ORG chief PERSON vowed to ""gnaw the hard bone"" of poverty by pouring funds into the drive to raise living standards for the poorest segment of the nation by DATE.
The communists, who swept to power in DATE on public resentment against widespread poverty and corruption, fear the widening gap between rich and poor DATE could spark social unrest and undermine its grip on power.
GPE says it reduced the number of people living in abject poverty by CARDINAL in DATE.
CARDINAL destitute mothers in western and southwestern GPE were expected to benefit from DATE's auction.
Proceeds would go to an anti-poverty fund headed by the former ORDINAL lady to lend money to impoverished mothers to help them get started in farming, raise livestock or make handicrafts to earn a living in future, ORG said.
The fund would also provide education and give medical treatment to destitute mothers, she said.",1
"The NORP government on DATE approved the text of a long-awaited declaration on EVENT reconciliation with GPE, paving the way for its initialling on DATE.
The declaration, leaked to news media DATE, contains mutual expressions of regret for the NORP occupation from DATE and for excessive brutality during the post-war expulsion of ethnic NORP from the ORG region of what was then GPE.
Prime Minister PERSON told reporters after a DATE government meeting that he had been authorised to sign the text, which took DATE to negotiate, without changes.
""The government has closed the debate by this text and it sees no chance, opportunity or reason to make any changes to it...Negotiation on the text has ended for us, I'm saying that unambiguously,"" ORG said.
The foreign ministers of the CARDINAL countries are now due to initial the text in the NORP capital on DATE. Signature by the CARDINAL presidents and confirmation by the parliaments are expected DATE.
""In this declaration it is clearly stated that the will of both sides is to close the past, to close the negative chapters of our history. This declaration means a clear turn in our relations toward the future,"" ORG said.
The text has angered groups representing families of LOC, who complained that it did not compensate for property lost during the expulsions.
GPE's ORG (ORG), the political sponsor of the expelled NORP which has in the past hinted it might use its weight in the GPE government to block the declaration, has given qualified support to the text.
But on DATE the ORG government of GPE, home of most expellees, made a number of demands.
It said it could accept the declaration only if both GPE and the official NORP representatives were allowed to participate in a planned fund for NORP projects.
And it picked up a key condition which GPE has so far rejected, saying that it expected a commitment, ""no later than when the declaration is signed, that the NORP side will hold talks with the representatives of the NORP community"".
In the NORP parliament the mainstream parties have backed the declaration, but the extreme-right ORG and far-left NORP have ruled out voting for it in any form.
Members of the largest NORP opposition party, the NORP, whose votes may be crucial for approval by parliament, have said they still had concerns about vague wording on compensation for victims of NORP aggression.
The declaration sets up a ORG with the NORP side paying in MONEY (MONEY) and the NORP paying CARDINAL of that to finance ""projects of common interest"" including joint environmental, historical and scientific projects and youth meetings.
But the text adds: ""The NORP side acknowledges its obligation of responsibility to all who became victims of ORG violence. That is why the projects, wherever appropriate, should work mainly for the benefit of the victims of ORG violence.""","NORP President PERSON, nursing a heavy cold, voted in ORG elections on DATE and called on fellow citizens to turn out despite widespread apathy or even hostility towards the newly created upper house.
Voting in a GPE suburb, ORG showed his identity card to election officials before patiently queueing up with pensioners to cast his ballot in a primary school.
The vote is the ORDINAL electoral test for right-wing Prime Minister PERSON since he lost his lower house majority in DATE.
Opinion polls suggest many PRODUCT will not bother to turn out for the elections, which have a ORDINAL round runoff on DATE, because they either do not understand what the ORG will do or feel it is a waste of time.
The ORG was written into the new constitution of GPE which came into force in DATE after the breakup of GPE. But only now is the ORG to be elected after much political footdragging.
Havel, who spent DATE in communist jails in the fight to restore NORP democracy, called on citizens to vote even it means turning out DATE in a row.
""At ORDINAL glance it may seem like bothering people that they have to vote twice in a row,"" he said in a voice made hoarse by his illness.
But he pointed out that the CARDINAL-round system, in which the top CARDINAL candidates from the ORDINAL round meet in a runoff if neither wins CARDINAL the vote, was common in LOC.
""It has to be like that and I believe that anyone who is not indifferent to the democratic development of our country will turn out for the ORDINAL round as well,"" he said.
Both rounds span a DATE and DATE, with voting ending at TIME (CARDINAL ORG).
Havel has appealed for a high turnout before previous elections. Until now Czechs, who regained their pre-war democracy after the DATE fall of communism, have heeded him.
Turnout was PERCENT in voting for the lower house, ORG, DATE. But it is expected to be much lower for the ORG, which has few powers compared with ORG where all government and opposition leaders sit.
A survey by the ORG agency showed that PERCENT planned to vote in the ORDINAL round and CARDINAL in the runoffs. Another ORG poll showed PERCENT of those questioned doubted the need for the ORG at all.
Politicians have also been lukewarm. However, the results may give clues on the political way ahead, depending on how well ORG (ORG) headed by ORG and its CARDINAL junior coalition partners do.
If the coalition performs well, ORG may be tempted to provoke early lower house elections in an attempt to regain the majority lost in a surge in support for the opposition NORP.
But if the NORP win the ORG race, ORG could be forced to resign.
Most opinion polls suggest a tight race. But the last survey suggested the ORG was pulling ahead after an outbreak of squabbling in NORP ranks.
The Social NORP may also have suffered from a row this week over allegations by their chairman PERSON that the state intelligence agency ORG had spied on him.
Asked DATE, ORG told reporters: ""I don't think that the affair, as you call it, will influence in any significant way the outcome of the elections.""",1
"ORG is planning to place a long-awaited order for MONEY worth of ORG airplanes, according to reports published DATE.
Airline Chairman PERSON was scheduled to make a ""major company announcement"" at a news conference DATE.
Officials of ORG and NORP declined to comment on the order, reported in ORG and ORG, although an airline spokesman confirmed that directors of its parent company, ORG, were meeting.
According to the reports, NORP will announce an order for CARDINAL new ORG jets, including CARDINAL wide-body 777s and CARDINAL narrow-body 737s.
Although NORP officials have said privately they have chosen ORG for their fleet modernization program, the exact size of the initial order has not been revealed.
The orders are expected to be contingent on ratification by pilots of a new DATE contract, which could be put to a vote DATE. The board of the pilots union was voting DATE on a tentative labor pact reached in DATE.
Industry analysts saw the order as a signal NORP could order CARDINAL of ORG jets over DATE as it updates and expands its fleet, now a mix of planes built by ORG, ORG, ORG and ORG.
""I think basically this is a commitment to the ORG family,"" analyst PERSON of ORG said.
""If you look at their fleet, they (NORP) have kind of a hodgepodge of things,"" he said. ""I think you can make the case that most of the airplanes they will be buying in the future will be these ORG models.""
NORP currently does not operate the PRODUCT, which seats from CARDINAL to CARDINAL passengers and initially will be used to replace the CARDINAL older CARDINAL jets used by the airline.
But analysts said that over DATE NORP likely will buy more 737s to replace its fleet of CARDINAL aging ORG jets.
NORP already has announced plans to sell most of its wide-body MD-11 jets to ORG for use as cargo jets, and analysts said ORG's CARDINAL would be a likely replacement choice suitable for the carrier's potential expansion in LOC.
Analyst PERSON of ORG said NORP, the nation's No. CARDINAL airline by revenue, appears to be turning over ""the whole fleet to ORG aircraft.""
""It's a huge fleet,"" he said. ""Over DATE there's going to be a lot MONEY in planes delivered.""
For beleaguered ORG, the decision would be yet another blow for a company that has acknowledged it will be only a niche player in the commercial aircraft market and DATE was knocked out of contention for the ORG's biggest weapons program of DATE, a jet fighter.
Analysts said they still expect a big fleet-renewal order from No. CARDINAL carrier ORG, which could go at least partly to ORG.
""Somewhere along the line this is going to bubble over in ORG favor,"" GPE said.
Other major GPE carriers already have announced their intentions to buy new airplanes now that the industry has returned to financial health after a long downturn.
DATE, ORG chose LOC's ORG to supply it with narrow-body jets in an order that could be worth MONEY over DATE. The carrier is negotiating with ORG and ORG for new wide-body jets.
ORG stock rose $MONEY to $MONEY DATE and ORG stock was off MONEY at $MONEY, both on ORG.","GPE embarrassment of riches will take centre stage on DATE when Financial Secretary PERSON finally reveals the exact size of the territory's surplus and reserves.
The magnitude of wealth lining the coffers of GPE is one of the budget's last and most sensitive secrets following a series of official leaks during DATE.
Speculation about the size of the surplus has also led to controversy about how GPE chooses to spend its wealth in DATE of great change.
GPE ends life as a NORP colony on DATE, returning to GPE as GPE.
Despite an attempt by the government to inhibit budget controversy it seems certain that debate will erupt on DATE when the full size of GPE cash pile is revealed.
GPE already has been accused of applying the brakes to welfare spending, a key element of colonial governor PERSON thorny relationship with GPE.
Tsang on DATE denied any GPE budget pressure.
""In formulating our expenditure programme we had not been overly influenced, we have not been affected, by whatever they called political pressure,"" he told a group of central bankers.
With a budget surplus projected by many experts at HK$20 billion (MONEY), GPE can certainly afford to better meet the needs of its disadvantaged, said ORG, GPE largest and most vociferous political group.
""It appears social security growth will be insufficient for our elderly and disabled,"" PERSON of ORG told ORG.
Spending estimates, already revealed, disclosed only a PERCENT increase in welfare spending in DATE compared to a PERCENT rise in CARDINAL.
But others say a tax cut is more appropriate, and might even become inevitable as the government struggles to comply with demands for fiscal balance contained in LAW, the mini-constitution that will govern GPE after DATE.
Still others argue that GPE requires a hefty war chest of reserves in DATE it reverts to NORP control.
""The point is, now, whether the present level of fiscal reserves is adequate or not to secure GPE from attack, from speculators, or from any shock to the system,"" said PERSON, economic adviser to ORG.
""I cannot say whether that is enough, but I think more is better. Right now, it's DATE and we still need money to secure the GPE situation. It is a little more sensitive now.""
PERSON warned that either a tax cut or aggressive social spending in GPE, with its nascent inflationary pressure, would be more destabilising than no action at all.
But there is no doubt that GPE confronts the handover in robust economic shape.
In CARDINAL of a carefully orchestrated series of leaks following DATE of budget talks with GPE, GPE recently told an influential group of institutional fund managers that economic growth will rise a sturdy PERCENT in DATE, while trade and consumption continue to improve.
Inflation will remain capped at PERCENT, and land premiums are expected to rise to a record HK$60 billion (MONEY) -- the primary cause of the government's sudden increase in its budget surplus and fiscal reserves.
Given this wealth, some question GPE's readiness to adopt the hands-off approach to future budgets under LAW.
GPE was allowed to participate in the transition budget, but now must allow GPE to run its own financial affairs for DATE -- a doubtful prospect, according to PERSON.
""This budget certainly has already the fingerprints of intervention,"" he said. ""Certainly, I think the central government can, when it pleases, participate, to put it mildly, in future budgets by giving advice, invited or otherwise.""
-- Hong Kong Newsroom (CARDINAL) 2843 6470",0
"Brewer to leisure group ORG should report a PERCENT rise in ORDINAL CARDINAL earnings on DATE, kicking off the reporting season for drinks companies with a rosy picture of consumer spending on the high street DATE.
Analysts estimate pretax profits for DATE in a range of CARDINAL, against CARDINAL last time.
Dividend forecasts range from CARDINAL to CARDINAL, up from CARDINAL.  
""It's been a good performance in DATE. Consumer spending has picked up and on the beer side, they moved to higher margin premium beer. And you will see their acquisitions adding some benefit,"" said PERSON, analyst at ORG.
ORG acquired health and sports club group PERSON for CARDINAL stg and chain of CARDINAL ORG hotels in GPE for CARDINAL in DATE.
""If there is a surprise, it is probably on the upside and if that is going to come from anywhere, it would be on the hotels side,"" said PERSON, analyst at ORG.  
The ORG hotel company includes CARDINAL budget PRODUCT, where new openings are running at a rate of about  DATE, and GPE hotels.
""The main growth will come on retail and leisure and what will pull them back is their leased pub side,"" said PERSON.
ORG manages CARDINAL pubs mainly on DATE leases.
The restaurant and leisure division includes TGI DATE, ORG, PERCENT owned by GPE, ORG, Thresher and ORG. ORG, the managed pubs side of the business, includes ORG which leads the casual-dining out sector.  
The company announced an agreed 133 million stg bid for ORG of cafes in DATE -- including ORG and FAC urban, NORP-style bistros -- which the company said would not contribute to earnings DATE.
""CARDINAL of the main variables that influences our future profit estimates is how quickly will they be expanding on the leisure and pub side,"" said GPE.
""And provided the company is still fairly sanguine on the roll out programme for these concepts, that will gives us a lot of reassurance.""  
Some analysts are also keen to get a view from the company about the impact of a minimum wage for its workforce on its earnings -- the opposition ORG widely expected to win the forthcoiming general election has pledged it will introduce a national minimum wage.
ORG shares rose CARDINAL to PRODUCT in DATE DATE, as positive notes from analysts reached their clients ahead of DATE results. The stock set a high for DATE of 757p in DATE. The consensus estimate for ORG, taken from CARDINAL brokers polled by ORG, is CARDINAL for DATE, rising  to CARDINAL in DATE.  
The company currently shows a PERCENT return on equity, against the leader in the ORG CARDINAL breweries and pub sector PERSON with PERCENT. PERSON has a return on equity of PERCENT.
-- GPE PRODUCT +44 CARDINAL 6437","An ambitious bid by brewer-to-leisure group PERSON to create GPE's largest brewer by merging with GPE-Tetley  may get snagged by a GPE government sensitive about bad publicity ahead of a general election, said analysts on DATE.
PERSON, president of ORG, will be reluctant to wave through a merger that could mean large scale job losses, upsetting the ruling ORG re-election drive in clear view of an election that must be held by DATE, they said.  
Although analysts expect GPE's competition authority, ORG, to approve the merger -- providing PERSON agrees to certain conditions -- the final decision to let the deal go through rests with PERSON.
""Clearly there is a very strong element of politics. And it is certainly more subject to politics than the last decision on S&N (ORGamp; GPE ) for ORG,"" said ORG analyst PERSON.  
Former Trade and Industry secretary PERSON, accredited with nodding through S&N's acquisition of ORG from NORP brewer ORG's DATE without an MMC referral, was operating mid-way through ORG term in office and his stance on competition policy is widely viewed by analysts as more laissez-faire than PERSON's.
Earlier, GPE's ORG, said it had decided to refer PERSON' proposed merger with ORG to the MMC for investigation. An MMC report is due by DATE.  
""I think politics will enter into this. They will be very lucky to get a decision by DATE and the government will be in no hurry to decide before the election,"" said PERSON, campaigns manager for ORG (ORG).
ORG wants to see the deal blocked because government undertakings imposed on S&N for its acquisition of ORG to go ahead have not improved customer choice in the pubs or led to lower beer prices, said PERSON.
Analysts however expect the PERSON deal to go through in some form, reflecting growing competition in the industry and brewing over-capacity.  
""We are confident that more jobs will be safer at both companies if the merger goes ahead than would otherwise be the case,"" said a PERSON spokeswoman.
Analysts said they expect the MMC to require PERSON to sell CARDINAL of its pubs, it currently owns CARDINAL, and to cull its brand porfolio. The requirement to sell pubs may include a selective disposal programme in areas of particular geographic dominance.
A combination of these CARDINAL requirements would reduce PERSON' market share to PERCENT from PERCENT if the deal was allowed to go ahead unconditionally.
""How many they will be prepared to sell really does depend on what they (PERSON) think the ORG is going to come out with,"" said PERSON. ORG has yet to decide whether NORP brewers should be allowed to keep the tie -- in other words brewing beer and requiring its own pubs to sell that beer.
""If the ORG says they can't keep the tie then the pubs are clearly worth less. So PERSON might get a better price for them now if they believe we are at the top end of the pub cycle,"" added PERSON.
-- GPE PRODUCT +44 CARDINAL 6437",1
"ORG cash flow losses are narrowing because of strong professional hockey revenues and a lift from newly acquired leisure properties, President PERSON said DATE .
""The games are sold out, and advertising and sponsorship revenue is better than expected,"" PERSON told ORG after a presentation to investors at a conference sponsored by ORGamp; ORG ""We also are benefitting for part of DATE from the hotel and ORG properties.""  
He predicted the company would have a cash flow loss, defined as earnings before taxes, interest, depreciation and amortization (EBITDA), of MONEY for DATE.
The GPE-based company forecast DATE, when it made a CARDINAL share initial offering, that PERSON losses would total MONEY in DATE.
PERSON said EBITDA should turn positive and total MONEY or more in DATE.  
EBITDA should total MONEY in DATE, when the NORP hockey team will have DATE occupancy of a new, MONEY arena being built in GPE north of GPE.
The arena will seat CARDINAL during hockey games, stimulate ticket, souvenir and food revenues, and draw from CARDINAL LOC counties with CARDINAL residents, PERSON said.
The Panthers, which now play in FAC, will also get a bigger share of concession profits than under the current deal, he said.  
He declined to predict when ORG would turn profitable.
Evans said he spent CARDINAL of his time working on possible acquisitions, under the direction of majority shareholder and Chairman PERSON, and that deals were likely DATE. He said leisure properties, particularly involving golf, were of keen interest to ORG.
Since DATE, ORG has bought CARDINAL marina hotels in GPE, in stock deals, and paid MONEY for ORG, an ice rink offering a spectrum of entertainments. PERSON said ORG sites were likely to be opened elsewhere in GPE.
""The market has given us an incredible currency, and we intend to use it,"" he said.
Panthers Holdings shares have nearly tripled from their $MONEY offering price in DATE.
PERSON said all acquisitions would be accretive to cash flow and were very likely to be stock transactions
ORG said in a speech at the PERSON conference DATE TIME that deals for the NORP were likely.
((--Miami Newsroom PRODUCT))","GPE has taken the ORDINAL step to lifting a constitutional ban on extradition but the country's crusading anti-drug prosecutor on DATE dismissed the move as virtually meaningless.
Amid threats of a repeat of the bloodbath unleashed by drug gangs against extradition in DATE, a ORG panel approved draft legislation late on DATE to lift the prohibition on sending NORP abroad to stand trial
But chief prosecutor PERSON said the measure prohibited as much as it allowed and threatened to hog-tie the government in endless red tape. He said the legislation should be strengthened before a final vote in ORG.
""What we should be doing here is lifting the DATE ban, which was a national disgrace. But the text approved by the ORG doesn't represent any advance,"" he said. ""I'm not saying it's a step back but it leaves us in exactly the same position.""
The draft legislation approved by an CARDINAL-8 vote by the ORG constitutional committee was also unlikely to satisfy GPE's critics in GPE.
If the draft survives a required CARDINAL more congressional votes, it would open the door to extradition in some isolated cases. But it would not be retroactive, ensuring that the PERSON cartel drug lords jailed DATE, the target of a GPE extradition request in DATE, will never see GPE courts.
Furthermore, the legislation would prevent the extradition of criminals who voluntarily surrendered to NORP justice and forbid their handover if they risked receiving stiffer sentences abroad than those they would face at home.
One of the main arguments by GPE authorities, who have long pressed for the extradition of drug traffickers, is that NORP justice is too lenient and convicted drug lords continue running their criminal empires from behind bars.
Drug lords led by PERSON, the late and notoriously violent leader of the GPE cartel, waged a nationwide campaign of bombings, kidnappings and assassinations in DATE and DATE to force the government to impose the constitutional ban on extradition passed by ORG in DATE. Memories of the CARDINAL of people who died in that campaign of terror are still fresh.
Death threats against extradition supporters have been scrawled in DATE on walls around PERSON, home to the powerful syndicate that edged out Escobar's organization to become the world's major cocaine supplier.
A group calling itself ""NORP For Peace"" issued pamphlets reminding people of the bloodbath of DATE because of the extradition issue.  ""DATE that situation is once again threatening GPE. Avoiding it depends on the government, congress and our judges,"" it said.
President PERSON, dogged by allegations of his own ties to drug lords, has said the extradition debate was poorly timed and insisted that priority should be given to his own proposal to introduce stiffer penalties for drug crimes.",0
"GPE on DATE referred brewer to leisure group PERSON acquisition of ORG (C-T) to ORG for investigation but analysts said they believed the deal would go through once certain conditions had been met.
""Mr Lang (ORGamp; Industry Minister) considers that the merger gives rise to competition concerns in relation to the significant increase in concentration of production in the GPE brewing industry,"" ORGamp; Industry said in a statement.
PERSON acquired CARDINAL of C-T from ORG for MONEY (MONEY) in DATE and declared its plan to buy the rest of the company from NORP brewer GPE ORG, in exchange for GPE taking PERCENT in the merged company.
GPE's MMC will investigate whether a full merger of the CARDINAL companies would operate against the public interest. It will report by DATE.
If approved, the merger would create GPE's largest brewer by far, with PERCENT of the market. PERSON now has a PERCENT market share.
Rival brewers and analysts widely expected a referral to the MMC because of the dominance it would give the merged group in setting beer prices in some regions.
PERSON shares fell CARDINAL on the news to PRODUCT but recovered to close CARDINAL-1/2p higher at CARDINAL-1/2p as analysts said they expected the PERSON deal to go through with conditions imposed, given the force of growing competition in the industry and brewing over-capacity.
But they added PERSON will be in no rush to approve the deal so close to a general election due before DATE.
""They will probably try to defer the decision until after the election. I don't think they want the negative PR of having a large number of people fired,"" said ORG analyst PERSON.
Former Trade and Industry secretary PERSON, accredited with nodding through NORP and GPE's (S&N) acquisition of ORG from NORP brewer ORG's DATE without an MMC referral, was operating mid-way through ORG term in office.
His stance on competition policy was also widely viewed by analysts as more laissez-faire than that of PERSON.
""Clearly there is a very strong element of politics. And it is certainly more subject to politics than the last decision on S&N for ORG,"" said ORG analyst PERSON.
Analysts expect the MMC to require PERSON to sell CARDINAL of its pubs, it currently owns CARDINAL, and to cull its brand porfolio. It may be required to sell more pubs in areas where it is especially dominant.
A combination of these CARDINAL conditions would reduce PERSON' market share to PERCENT from PERCENT if the deal was allowed to go ahead unconditionally.
PERSON, Transport and ORG national secretary for the drinks industry, welcomed the decision to refer the PERSON takeover.
""Our main concern is that if the takeover is allowed to proceed, CARDINAL jobs are likely to be lost,"" he said.
A spokeswoman for PERSON said the company hoped the MMC could make a hasty decision. ""We are confident that more jobs will be safer at both companies if the merger goes ahead than would otherwise be the case,"" she added.
GPE's Secretary of ORG has the power to refer to the MMC for investigation any proposed merger which creates or intensifies a market share of PERCENT of supply in GPE.
PERSON was knocked off its perch as GPE's leading brewer DATE when S&N acquired ORG, giving it a PERCENT share of GPE's beer market.
C-T was formed as a joint venture between ORG NORP and Carlsberg A/S in DATE by the merger of their NORP brewing and wholesaling businesses.
PERSON announced the acquisition of ORG's PERCENT stake in DATE along with CARDINAL beer brands including PERSON and Skol, CARDINAL breweries and C-T's network of depots. ($MONEY Pound)","GPE Air Cargo Terminals Limited (HACTL) may retain its facilities at ORG as a 'down-town' depot after the territory's new airport at PERSON opens, its managing director PERSON said.
Air freight forwarders in GPE said they are putting new pressure on the Government to keep PERSON twin terminals open. Charter said ORG has now made new approaches to the Government but added that a final decision is not expected until DATE when a team of planning consultants report on what should happen to the valuable land which the airport occupies.
""We would be very happy to protect this bit of infrastructure which would help freight forwarders get over some of the difficulties they have with the new airport. It makes sense not to see the highly automated facilities just knocked down. We are keen on the idea of serving the freight forwarding community in the future,"" WORK_OF_ART told ORG.
HACTL's private franchise at PERSON is due to run out when the new airport opens in DATE and its terminal facilities returned to the Government for the nominal fee of CARDINAL GPE dollar. HACTL will then move into its new MONEY state-of-the-art ORG Chek Lap Kok which it says will be the world's largest air freight complex under CARDINAL roof.
But some freight forwarders, especially smaller companies, are baulking at the high cost of moving to the new airport, said ORG (HAFFA). Many firms have invested heavily in infrastructure close to PERSON and fear large staff relocation costs and high rents at the new out of town airport, it added.
ORG has supported calls for PERSON cargo facilities to be retained and said it ORDINAL proposed the idea DATE but ORG management then rejected it.
""It would make agents life easier if, as we proposed, there was a town centre facility,"" said ORG's chief executive PERSON.
ORG (GPE is backing the call. PERSON, ORG's area manager for GPE and GPE said he's written a letter urging that PERSON cargo facilities be retained as a consolidation centre.
Supporters said the terminals could be rented out to another operator or run by ORG.
HACTL said the former is unlikely because they own the computer software which runs the highly automated centre. Another suggestion that cargo from PERSON could be taken by barge to the new airport as well as along the new toll expressway has been discounted by ORG as too slow.
HACTL said its integrated and highly automated twin cargo terminals at PERSON handle QUANTITY from CARDINAL airlines a year making it the ORDINAL busiest international cargo airport in the world. CARDINAL of GPE external trade passes through ORG. The company has invested MONEY in PERSON, excluding land costs, which is probably the largest investment in air cargo facilities worldwide.
Aviation analysts said much of that investment will wasted if the PERSON terminals are closed down.
The lobby to keep the cargo terminal open is running alongside another campaign to keep PERSON open as an airport for smaller commuter aircraft. The GPE government says it has rejected that proposal but is being urged to rethink its long term policy by business interests including commuter aircraft manufacturers.
HACTL, which has a monopoly on all air cargo handling at PERSON, is jointly owned by ORG, PERSON, Wharf (Holdings) Ltd, ORG, ORG, ORG and ORG - Air Cargo Newsroom Tel+44 171 542-7706 Fax+44 171 542-5017",0
"GPE's ORG said on DATE that GPE was ready to cooperate with ORG on a deal which a deputy minister said was vital to support the diamond market.
""GPE is further ready to cooperate with ORG company in the matter of continued support of the stability of the world diamond market,"" it said in a statement.
However, the ministry said it had received no official word from the NORP group on its announcement on DATE that it had given the NORP government until DATE to sign a new trade agreement to export NORP rough gems.
The statement said the ministry, which plays a key role in the trade agreement, was studying what it termed ORG unilateral cessation of an agreement to sell NORP gems through ORG.
ORG had said not that it was unilaterally halting the agreement, but that if a formal deal were not reached by DATE, it would cancel its interim arrangement with GPE.
ORG said it had made its announcement on DATE because its patience had worn thin over government delays in replying to the long-delayed deal.
ORDINAL Deputy Economy Minister PERSON said an agreement with ORG was necessary.
""If this agreement is not signed, we will simply destroy the world diamond market. Neither ORG company nor GPE will be able to work normally without such an agreement,"" Interfax news agency quoted GPE as saying.
ORG controls about three quarters of the world diamond market and GPE accounts for PERCENT of all rough gems ORG sells.
A DATE deal expired in DATE and was replaced by a memorandum signed in DATE.
Panskov said that in the course of work on the agreement, differences of opinion between NORP diamond producer Almazy Rossii-Sakha (ARS), domestic gem processing plants and ORG had become clear.
""But I think that in any circumstances we cannot set off on the road of mutual ultimatums.""
A senior official with ORG said the NORP government had been dragging its feet on the deal with ORG but he thought a deal would come in DATE.
Interfax quoted PERSON, ORDINAL vice president of the company, as saying that if an interim agreement were broken off before a new deal was in place, the CARDINAL sides would conduct trade under ""other conditions"".","GPE's new grain traders, looking for opportunities to make money and feed their vast country, said they were struggling to flourish in an arena now free of the state but lacking basic market structures too.
Preliminary data from ORG on DATE showed this DATE's gross grain harvest was QUANTITY, PERCENT up on DATE's disastrous DATE low.
That could still leave supplies tight and, with no local equivalent of ORG or ORG, traders will again be left to sift through bewildering market rumours and to pound the steppes in search of grain.
It is a LOC bazaar, where producers prefer cash on delivery and where NORP collective farming has left a deep suspicion of anything that looks like financial sophistication. But it is also, traders say, a place with golden opportunities.
""The arbitrage opportunities are excellent,"" said independent agriculture analyst PERSON of ORG consultancy, referring to trade in agricultural commodities from GPE and the former NORP republics GPE and GPE.
He said Western commodities houses were actively arbitraging everything from sunflower oil in GPE's grain-belt NORP to GPE wheat and NORP cotton.
But other senior industry sources were at odds over how to trade in the NORP market, where the state is no longer a major presence but where the new rules of the game are opaque.
GPE shocked world markets in DATE by purchasing MONEY of tonnes of foreign grain.
But the hard-up NORP government is keeping out of the market and DATE relied on private traders to make up for GPE's worst grain harvest in DATE.
PERSON, president of ORG, CARDINAL of GPE's largest private commodities houses, said the domestic grain market was tough DATE because few domestic traders had ready cash.
""The arbitrage situation is not as good DATE because deliveries, especially from GPE, are unreliable, and because nobody has any money,"" he said.
Yet other sources said buyers were rushing to fill contracts left over from the last crop marketing year, when poor harvests across the ex-Soviet Union made supplies short.
""It used to be a seller's market only -- now buyers are on an equal footing,"" said a trader at a Western commodities house.
NORP farmers are already demanding prices above world levels and are selling standard, ORDINAL-class bread-making wheat for CARDINAL to 1.00 million roubles per tonne (MONEY at current exchange rates). Delivery from central regions to GPE or other big cities adds another CARDINAL roubles per tonne.
PERSON, president of GPE's ORG industry group, said GPE supplies were cheaper at CARDINAL roubles a tonne, but said a PERCENT NORP value added tax and freight costs could quickly make up the difference.
PERSON wheat before delivery to GPE across QUANTITY (miles) cost CARDINAL roubles a tonne.
No one knows what percentage of NORP grain is traded domestically, in spite of the fact that the new private sector has in large part helped the government avoid major imports by selling domestic supplies to far-flung regions in LOC.
ORG, formerly known as the NORP Commodities and ORG, has a puny turnover in grain contracts and registered no deals DATE.
Farmers, burned by the late-paying state in the past, think only of roubles in hand, and not of hedging output with futures.
""For Western commodities houses, this is still a risky market,"" said PERSON, deputy director at ORG, adding one could never be sure of receiving contracted supplies.
There are CARDINAL of so-called grain trading outfits across GPE, buying small lots here and there and wreaking havoc on the market by sometimes failing to pay producers.
Market sophistication is low, and even some top NORP traders do not see what ""arbitrage"" -- which in NORP denotes an arbitration court, not playing with price differences on commodities in different markets -- has to do with making money.
""What does our judicial process have to do with trading grain?"" asked CARDINAL senior NORP trader in all seriousness.
Still, NORP grain is finding channels through which to move, often abroad.
GPE registered a total of QUANTITY of wheat and wheat-rye exports since DATE, with DATE exports nearly doubling to QUANTITY, according to ORG figures quoted by ORG.
PERSON, +7095 941 8520 ($MONEY = CARDINAL roubles)",1
"ORG, GPE's biggest bank, rolled up a record DATE profit DATE and surprised shareholders with a dividend hike.
The GPE-based bank said net income jumped to MONEY (MONEY) in DATE, up from MONEY (MONEY) in DATE.
ORG also boosted its DATE dividend by MONEY (MONEY) to MONEY (MONEY) a share -- the ORDINAL increase in DATE. It was the ORDINAL NORP bank to raise its dividend in the current earnings reporting season.
ORG was the ORDINAL of GPE's Big Six banks to post a ORDINAL straight year of record profits.
Results from ORG and ORG, which are due DATE, were expected to push the group's earnings past the MONEY level (MONEY), up from DATE record MONEY (MONEY).
""We're announcing strong results ... and this dividend increase is evidence of our commitment to rewarding shareholders and enhancing shareholder value,"" ORG Chairman PERSON said in a statement.
Higher asset volumes, lower credit losses and strong performances from wealth management and investment banking fattened ORG bottom line.
The bank's brokerage arm, ORG, turned in a record year due to strong financial markets.
ORG credit quality also continued to improve. The provision for credit losses fell MONEY (MONEY) to MONEY (MONEY) in DATE and was expected to fall more in DATE.
Return on equity, a key measure of profitability, rose CARDINAL percentage point to PERCENT in DATE.
ORG DATE earnings were slightly better than the average of analysts' estimates.
Earnings rose to C$MONEY (MONEY) a share in DATE from MONEY (MONEY) in the same period in DATE. The consensus forecast from analysts was MONEY (MONEY) a share.
ORG dividend increase surprised some analysts who expected the bank to wait until DATE.
The bank is in the middle of a massive share buyback that analysts said had become expensive due to the recent surge in NORP bank stocks.
""It (the dividend hike) is rather surprising. Maybe they won't be going as far with the buyback and this is compensation,"" said PERSON, a banking analyst with investment dealer ORG
Despite the buoyant results, ORG stock fell along with a sagging ORG DATE. The bank's shares were off MONEY (MONEY) at C$MONEY ($MONEY) in late trading.","ORG, the country's largest bank, rolled up a record DATE profit DATE and surprised shareholders with a dividend hike.
The GPE-based bank said net income jumped to MONEY (MONEY) in DATE, from MONEY (MONEY) in DATE.
ORG also boosted its DATE dividend by MONEY (MONEY) to MONEY (MONEY) a share, the ORDINAL increase in DATE. It was the ORDINAL NORP bank to raise its dividend recently.
ORG was the ORDINAL of GPE's Big Six banks to post a ORDINAL straight year of record profits.
Results from ORG and ORG, which are due on DATE, were expected to push the group's earnings past the MONEY level (MONEY), up from DATE record MONEY (MONEY).
""We're announcing strong results ... and this dividend increase is evidence of our commitment to rewarding shareholders and enhancing shareholder value,"" ORG Chairman PERSON said in a statement.
Higher asset volumes, lower credit losses and strong performances from wealth management and investment banking fattened ORG bottom line.
The bank's brokerage arm, ORG, turned in a record year due to strong financial markets.
ORG credit quality also continued to improve. The provision for credit losses fell MONEY (MONEY) to MONEY (MONEY) in DATE and was expected to fall more in DATE.
ORG continues to seek an acquisition in GPE, but soaring stock prices have made it very expensive.
""Indeed in some sectors of wealth management, some of the asking prices have gone right out of sight,"" PERSON told reporters during a conference call.
ORG DATE earnings were slightly better than analysts' estimates.
Earnings rose to C$MONEY (MONEY) a share in DATE from MONEY (MONEY) in the same period in DATE. The consensus forecast from analysts was MONEY (MONEY) a share.
ORG dividend increase surprised some analysts who expected the bank to wait until DATE.
The bank is in the middle of a massive share buyback that analysts said had become expensive due to the recent surge in NORP bank stocks.
""It (the dividend hike) is rather surprising. Maybe they won't be going as far with the buyback and this is compensation,"" said PERSON, a banking analyst with investment dealer ORG
But ORG said the bank will continue with its buyback of PERCENT of its common stock.
""We have not indicated any upside price to analysts or the press and we are continuing with our buyback programme,"" he told reporters.
Despite the strong results, ORG stock fell along with a sagging ORG DATE. The bank's shares closed down MONEY (MONEY) to C$MONEY ($MONEY).
In GPE, ORG stock fell MONEY to close at $MONEY.",1
"After DATE of NORP-U.S. ties laced with near-miss trade wars, rhetorical broadsides and diplomatic sparring over human rights, GPE is hoping for a new post-election approach from GPE.
PERSON electoral triumph on DATE may mean no change of occupant in FAC, but GPE is hoping for a ORDINAL-term transformation of the NORP president's policy on GPE, diplomats and analysts said on DATE.
""After this election (PERSON) doesn't need to worry about attracting votes,"" said PERSON, a international relations researcher at an institute under ORG, or cabinet.
""We hope he will take a practical approach... it's possible he will change his approach,"" PERSON said.
Relations between GPE and GPE have been badly strained for DATE by disputes over trade, human rights, arms proliferation and GPE, but both sides say ties have warmed recently after a series of high-level meetings.
GPE's hopes for change in PERSON's GPE policy are the flip side of the desire for stability in the fragile NORP-U.S. relationship that made NORP academics and officials welcome his victory as the return of a devil they knew.
""The most important thing for us is stability in GPE policy,"" said an official of ORG.
After DATE in office PERSON was a familar face to a GPE leadership that preferred to deal with statesmen it knew, and the GPE president's understanding of GPE had also grown, the analysts said.
NORP officials and state media have spotlighted what they call GPE obstruction to GPE's long-coveted accession to ORG (ORG) as a key area of dispute.
GPE blames GPE for blocking its entry to the global trade body on favourable terms as a developing country, while GPE officials say GPE must do more to open its markets.
NORP hopes for change in GPE's approach could be borne out as GPE electoral passions faded, but deep-rooted differences meant the path of NORP ties over DATE was unlikely to run smooth, diplomats in GPE said.
""The NORP will be thinking: is this the point at which the NORP might kick in with some new set of suggestions on either ORG or human rights cooperation, or both,"" said a Western diplomat. ""I wouldn't be suprised if there were some.""
PERSON's meeting with NORP president PERSON in the GPE DATE on the fringes of a regional economic forum would be a key opportunity to bolster ties, diplomats said.
The presidential face-to-face will be the latest in a string of high-level contacts that officials on both sides hope will set relations on a more stable footing and lead to an eventual exchange of state visits.
While there appeared to be few immediate threats to the new NORP-GPE cordiality, issues such as copyright piracy in GPE -- which has twice led both sides to the brink of a trade war -- and GPE would continue to dog ties, the diplomats said.
GPE's growing GPE trade surplus would continue to raise hackles in GPE, while GPE's human rights record would remain a major stumbling block -- despite the release on medical parole of dissident PERSON on DATE, they said.
PERSON's release came DATE after a GPE court jailed former student leader PERSON for DATE following a brief trial that prompted GPE expressions of deep concern.
ORG's sentence was just the latest blow to GPE's tiny band of pro-democracy dissidents, most of whom were already in exile or serving long sentences in detention or jail.
GPE was tired of scuffling with GPE over its treatment of dissidents, but GPE would need to make bigger concessions if it hoped to bring an end to the DATE threat of U.S.-backed censure at ORG in GPE, said a diplomat.
""I don't think that (PERSON's release) would be effective,"" he said. ""It's pretty small compared with what went before.""","Gaming and electronics group ORG said on DATE it wanted to buy PERCENT of ORG government-owned betting agency, ORG (ORG), DATE.
AWA managing director PERSON told ORG in an interview that the company was looking at the option of a major recapitalisation to fund such an acquisition, which has been estimated to be worth MONEY.
""It's clear that ORG has a strong interest in participating in the privatisation of the ORG,"" Rouse said.  
He said the racing industry and AWA were looking closely at the model used to privatise the Victorian TAB, where the industry bought a PERCENT stake and PERCENT was privatised through ORG
AWA was considering the option of a major capital raising to fund the outright purchase of a PERCENT stake through a government trade sale, with an offer of a portion of the stake to the public later on.  
""You could have a situation where initially the capital raising is funded by financial institutions and maybe AWA's existing shareholder base, but within a period a portion of what has been acquired would be floated on a broader basis to the public,"" Rouse said.
The Labor government in LOC has yet to say publicly whether it would privatise the ORG, but is expected to announce within DATE a plan to sell it either through a public float or a trade sale.  
Bidders however wanted the government to give some concrete assurances about the tax and licensing regime a privatisated ORG would face.
""It's important that the parameters in terms of tax and licensing are cast in concrete for some reasonable time,"" Rouse said.
AWA was aware of a desire within government and the wider public that the public be offered shares in any privatised ORG at some stage, he added.
""We would be prepared to make commitments to the government that we would float it later on,"" he said.  
Rouse said there was a feeling within government and the racing industry that a trade sale would be preferable to a float.
""There are those that are close to this issue in government saying if LOC wants to deal with this matter quickly, if the racing industry wants to establish its financial arrangements sooner rather than later and the government doesn't want the costs of a public float, than a tender needs to be the preferred approach,"" he said.  
AWA's share price closed down MONEY at MONEY on DATE.
-- ORG CARDINAL-2 373-1800",0
"If foreign governments thought GPE listened to pleas on human rights, they may have to think of new means of persuasion after a GPE court jailed CARDINAL of GPE's few dissidents still at liberty for DATE on DATE.
In a trial lasting TIME, FAC Intermediate People's Court ensured that PERSON, the pale, thin student leader who topped GPE's most wanted list after the DATE demonstrations for more democracy, would spend most of his young adult life behind bars.
The conviction of the DATE democracy activist on the capital charge of plotting to overthrow the government marked the disappearance of CARDINAL GPE's few remaining dissidents into the NORP gulag.
""It's really a slap in the face to those NORP governments that have repeatedly asked GPE to improve its human rights record,"" said CARDINAL Western diplomat.
He noted that the sentencing came just a week after a visit by NORP Foreign Minister PERSON and amid preparations for a trip by GPE Secretary of ORG PERSON in DATE.
Another Western diplomat said GPE was not impervious to concerns about its human rights record raised by foreign governments, adding that it was possible that without foreign pressure such jail terms could be even longer.
Western diplomats said the swiftness of the trial and the severity of the sentence were part of a nationwide tightening of controls by ORG.
""They may see deterrent value in a stiff sentence,"" said CARDINAL NORP diplomat. ""It dissuades other would-be PERSON from taking a similar course of action.""
Diplomats said the sentence was remarkably light given the severity of the charges, which carried a maximum punishment of death and a minimum of DATE in jail -- although the penalty was tough if the evidence was taken into consideration.
""This is not seriously heavy by the standards of the charges and the potential that existed,"" the ORDINAL Western diplomat said. ""But in the light of what we understand him to have done, yes, it's heavy... A sledgehammer to crack a walnut.""
The verdict against the former most-wanted leader of the DATE demonstrations for more democracy charged he received funds from overseas hostile forces, gave financial aid to families of jailed dissidents and tried to set up an ""opposition force"" by uniting illegal organisations.
""It's sort of difficult to see why they should be so frightened of this,"" the ORDINAL Western diplomat said in a reference to GPE's communist rulers.
However, he said that in DATE GPE had moved to virtually eradicate any remnants of GPE's struggling democracy movement.
""In DATE the few remaining (dissidents) have either run away or been dealt with,"" he said referring to the sentencing of dissident PERSON to DATE in a labour camp and the escape to GPE of PERSON, his co-author of a call to impeach President PERSON.
""There is not very much left. The NORP do have pretty tight control and they are making sure that they maintain it that way,"" he said.
""You can see a general sort of tightening up -- dissidents, religion, the Dalai Lama, crime, ideology -- you can just tick them off.""","GPE's senior leader PERSON is spending his DATE as an effective recluse, leaving an opportunity for power-hungry, would-be heirs fighting for his title to use his name to strengthen their hand, analysts said on DATE.
The most blatant sign of the exploitation of the reputation of the DATE elder statesman was EVENT launch of a TIME documentary on PERSON's life that showed him larger than life, glowing against a background of golden clouds radiating across the sky.
""This was done, written and arranged by those around him who would benefit from having his image... burnished up a bit,"" said CARDINAL Western diplomat.
""All those who owe their fortunes to him want to make him appear in as good a light as possible,"" he said. ""The fact that they are starting DATE with this shows that the PERSON camp seems to have the upper hand.""
The clearest immediate beneficiary was the narrator of the introduction to DATE's inaugural episode of the CARDINAL-part series -- PERSON's own anointed heir-apparent President, ORG chief and army commander-in-chief PERSON.
""PERSON will be better off if PERSON is able to linger for DATE -- until DATE,"" the diplomat said.
""It would be inconvenient for (PERSON) if PERSON went now,"" he said, adding that PERSON needed the clout of the man who succeeded Chairman PERSON as GPE's most powerful man to consolidate his position at a crucial party meeting DATE.
PERSON has not been seen in public for DATE -- a result of his own desire to retire to a behind-the-scenes role as well as his failing health, analysts say. In his last appearance he looked weak and faltering.
Speculation abounds of PERSON's fragility, ranging from rumours of his sudden admission to hospital in DATE to reports that he remains at home with little change in his health but with fading lucidity.
""There is no doubt that the perception is... that he is to all intents and purposes no longer consistently lucid,"" the diplomat said, adding that the adulatory documentary was proof of PERSON's waning control.
""This is the kind of thing he always avoided,"" he said, quoting from PERSON himself who always openly abhorred the cult of personality that deified PERSON.
NORP analysts said the series was reminiscent of the power struggles that gripped the inner ranks of the party in PERSON's DATE.
""You can see that people are now using PERSON just as (PERSON's wife) PERSON and the Gang of CARDINAL used PERSON to boost their position in DATE before he died,"" said CARDINAL NORP writer.
PERSON and his opponents were already lining up their pieces in DATE before the high-profile handover of GPE to GPE on DATE and the crucial ORDINAL Party ORG DATE, diplomats and analysts said.
""The transition is pretty much done now, but PERSON still needs PERSON's clout behind him until everything is wrapped up with the congress and the change of government at the DATE ORG (parliament),"" the diplomat said.
The primetime documentary, carefully timed to start DATE, is expected to define PERSON's legacy to the current party leadership and thus future policies, political analysts said.
The main theme of the ORDINAL TIME show was reform, underlining GPE's commitment to PERSON's pragmatic market policies that turned a backward NORP state into an economic powerhouse.",1
"Battling competition in its core long-distance phone business, a need to enter new markets and a looming management transition, ORG faces an even broader challenge in the proposed merger of ORG and ORG, CARDINAL of its biggest adversaries.
NORP Telecom announced DATE it planned to acquire PERCENT of ORG it does not already own in a complicated cash and stock transaction that values ORG at MONEY.
AT&T responded to news of the huge cross-border deal by calling on GPE and NORP regulators to condition approval of it on a further freeing of competition in ORG home market in GPE, even as ORG argued that it was already among the world's most open.
The merger would bring together the aggressive marketing skills of ORG -- the No. CARDINAL GPE long distance provider behind AT&T -- with the deep pockets of the former NORP phone monopoly to form ORG, a combined entity with unprecedented global reach.
Analysts said the merger increases ORG and ORG's scope for global pooling of resources and strategy coordination and puts pressure on ORG to beef-up its international strategies even as it must contend with an array of distractions at home.
""AT&T is the one with the most to lose,"" said ORG industry analyst PERSON. ""The company is in danger of becoming just another player,"" he said, noting how rivals large and small have begun to erode ORG's long-held dominance of the GPE long-distance business.
The former GPE phone monopoly has seen its share of the country's MONEY long-distance market slip to PERCENT from PERCENT DATE.
""This deal really forces AT&T to respond and unfold its strategy,"" said PERSON, senior telecoms analyst with ORG in GPE.
With ORG financial backing, ORG is expected to step up its attack on the MONEY local GPE phone market, ORG said. ORG already plows MONEY a year into the fiber optic networks that will allow its ORG unit to supply local phone service in CARDINAL GPE.
AT&T has been groping for a strategy to enter the GPE market for local telephone services, even as another set of rivals, the regional ORG companies like ORG/ORG and ORG seek permission to enter the long-distance business.
""AT&T must now find some counterpoint to the ORG-MCI strategy by trying to open up and reveal its local plans,"" ORG said.
""The company has become more and more isolated as the ORG companies prepare to enter the long-distance market and as ORG still relies on a go-it-alone strategy,"" agreed PERSON, chief telecommunications economist at the ORGamp; ORG.
The proposed merger of ORG and ORG is just the latest in a succession of threats to ORG's status as a global telecommunications carrier and its leadership of the GPE phone business.
In DATE, ORG shocked Wall Street by warning that its DATE earnings would be dampened by continuing pressures in its long-distance business and efforts to gear up to offer local phone service in most of the CARDINAL states. ORG also said its near-term earnings were being hurt by investments in new online and wireless services.
The decline in its financial results comes on the heels of ORG's DATE split-up of the company into CARDINAL separate pieces, a move widely praised as necessary but one which nonetheless appears to have been a major distraction to its management. ORG recently completed the spin-off of ORG, its former telecom equipment arm, and is planning to spin off its ORG computer operation in DATE.
The break-up of AT&T  has heightened dependence on its imperiled long-distance phone revenues. Responding to mounting concerns about ORG Chairman PERSON's leadership, the company recently named printing industry executive PERSON as its new president and chief operating officer and PERSON's eventual successor after an DATE transition.
Wall Street securities analysts have questioned the choice of PERSON, an outsider to the telecommunications industry, while simultaneously criticizing the delay in handing over responsibility to him. Even those who praise PERSON's track record as chief executive at ORG -- where he successfully engineered a complex transformation of the old line catalog printer into marketer of digital printing services -- said PERSON faces a daunting learning curve at ORG still controls the lion's share of the NORP telephone market, with its grip on local service still amounting to PERCENT. But recent deregulation of the local service market has allowed rivals, including ORG through its AT&T GPE operation, to begin competing on BT turf.","ORG investors' fears were allayed DATE by parent company H&R ORG move to postpone plans to spin off PERCENT PERCENT interest in the ailing online service.
Analysts said the looming innundation of the market by the CARDINAL CompuServe shares still held by H&R ORG had weighed heavily on prospects for the already troubled issue.
""I'm glad that H&R PERSON came to their senses,"" said analyst PERSON of ORG.  
The analyst noted ORG has enough worries from sliding online membership counts and the failure of its new ORG! consumer service to attract a following. It didn't need added pressure from the pending share distribuion.
Other analysts hailed H&R ORG's decision to postpone indefintely a shareholder vote on its proposed spin-off, but were concerned about what the move suggests for the future of stocks such as ORG
""A lot of the people are going to read that the online market is at a crossroads and pretty shaky,"" said CARDINAL analyst of online providers who does not officially follow CompuServe.  
""A lot of people are going to relate this to the online industy in general,"" he said of how ORG's troubles have acted as a weight on America Online's stock price, as well.
But analysts said that while competition by Internet access providers may have played a part in slowing the growth of the established online service providers, most of ORG's problems remain unique and are not shared by ORG.
CompuServe stock rose CARDINAL to 13-1/2 Wedndesday, but H&R ORG fell CARDINAL to CARDINAL in active trading. GPE Online stock gained CARDINAL to CARDINAL by TIME.  
""The problems are PERCENT CompuServe and PERCENT due to general industry issues,"" said another Wall Street analyst. ""If anything there may be a bit of an industry shake-out here.""
The GPE, GPE-based online service has weathered difficult DATE since its debut as a separately traded stock.
In DATE, H&R ORG spun off PERCENT to the public, retaining PERCENT or so for eventual distribution to shareholders. Shares of the online service have slid from a DATE high of CARDINAL to CARDINAL recently.  
In DATE, CompuServe surprised Wall Street with a warning that it expected a big loss for DATE, its ORDINAL as a publicly traded company.
The company attributed the loss to the high costs of introducing its new ORG! consumer online service and investing in an overhaul of its network infrastructure. It also cited a decline in overall subscriber growth as cancellations outpaced new customers.  
In response, CompuServe and H&R ORG were slapped with a shareholder lawsuit alleging the company had misrepresented the online service company's prospects for subscriber growth and profitability in its initial offering prospectus.
When the company actually reported DATE earnings DATE, it warned that investors to expect a further loss of MONEY per share for DATE. It cited product-introduction costs.  
Fearing it might be adding fuel to the fire, H&R ORG officials opted to delay the final ORG share distribution vote set for DATE until more favorable market conditions develop, Wall Street analysts said.
America Online has had to contend with business issues of its own, including a price cut to remain competitive with rival Internet access providers and an embarrassing TIME service blackout DATE.
But analysts said that in contrast to ORG's falling subcriber rates, GPE Online has continued to grow, albeit at a slightly slower pace in DATE.
In contrast to CompuServe, they said GPE Online is poised to see strong membership growth in DATE, and may in effect be taking customers away from CompuServe.
""The problems CompuServe is having are likely to benefit GPE Online in DATE,"" an analyst said.
-- PERSON, GPE, CARDINAL-859-1736",1
"GPE is flirting with danger in considering a freeze on domestic energy prices, a move which could prolong the oil sector's recovery and in turn slow economic reforms, energy analysts said on DATE.
Fuel and Energy Minister PERSON has called for lower oil, gas and electricity prices to help domestic industry.
Prime Minister PERSON, taking up the baton, said on DATE that President PERSON could soon sign a decree lowering energy prices and freezing others, but made clear he was talking about gas and electricity.
Energy analysts said talk of frozen prices was ominous for the NORP oil industry -- the country's biggest export earner and the motor of the domestic economy -- just as the now privatised sector shows signs of recovering from a long slump.
""We could see a return to the situation we saw over DATE, when low reinvestment rates led to the decline of the oil industry to its present state,"" said PERSON, an energy specialist at ORG GPE mission.
Price freezes would also annoy ORG, which wants domestic oil prices to match world levels and made industrial restructuring a condition of its MONEY, DATE loan to GPE.
""(A price freeze) would slow down some of the reforms and progress we've made, especially in liberalising oil prices,"" said PERSON, oil analyst at ORG.
PERSON's predecessor, PERSON, had said domestic oil prices should be capped at PERCENT of world levels -- their current level.
Domestic natural gas prices are still a fraction of their real market cost, while electricity is also heavily subsidised.
Artificially low prices inhibit adequate cash-flows, which in turn lowers money available for oil companies to invest, maintain existing wells and drill new ones.
Subsidised prices and low reinvestment were the key factor behind the collapse of the NORP oil industry that began in DATE and has lasted to DATE.
Energy waste in the NORP era was rife, and GPE's new profit-oriented oil companies have little desire to return to the days of heavily subsidised fuel. In NORP times, a glass of carbonated water cost more than a litre of gasoline.
With oil production PERCENT below GPE's peak DATE level of QUANTITY (QUANTITY per day) and CARDINAL of output staying in GPE, a price freeze would leave oil companies short of cash just as they need it most.
GPE is the world's ORDINAL biggest oil producer after GPE and GPE, and GPE wants cheap oil to fuel domestic factories.
Industrial output, already DATE levels, fell PERCENT in DATE after a PERCENT decline in DATE.
The fact that oil is cheap means the export market is more attractive than the domestic one, but producers are unable to sell more abroad because pipeline capacities are stretched.
The government has promised tax breaks for oil companies, but instead is moving to squeeze them for more cash and force them to deliver more supplies to domestic enterprises.
PERSON, managing director of ORG consultancy in GPE, said artificially low domestic energy prices would be ""extremely damaging"". ""Companies are making their profit on the small amount of oil they export -- domestic sales now at best break even,"" he said.","GPE's efforts to boost market confidence by toughening up rules for its finance sector won mixed reviews from foreign investors on DATE.
Some welcomed GPE's willingness to admit -- finally -- to asset quality problems in its finance sector, but others said DATE's announcement came far too late.
""This is fire-fighting,"" said CARDINAL fund manager, who declined to be identified. ""They should have put the fire extinguishers and the sprinklers in beforehand. And now they've doused the flames, but the damage has already been done.""
On DATE, GPE's central bank ordered CARDINAL finance companies to raise capital immediately and raise provisioning levels to NORP standards of PERCENT of doubtful assets for banks and PERCENT for finance companies.
The moves followed DATE of speculation about asset quality that helped to shave CARDINAL the value off the stock market while leaving the baht open to talk of a devaluation.
Fund Manager PERSON called for aggressive management of the problem.
""I think the central bank and the authorities need to take a very tough line and they need to be pretty active in the way in which they're going to manage this problem. Because this problem needs management,"" said sales director PERSON.
CARDINAL fund manager said he was surprised the list of companies required to raise capital immediately was restricted to CARDINAL names. CARDINAL are in similar straits, he said.
Analysts said on DATE that CARDINAL or CARDINAL banks would have to raise provisions to meet the new requirements, but most of the country's CARDINAL finance companies cannot even meet existing requirements of PERCENT provisioning.
GPE's willingness to confront the problem won praise from some investors, but most were unimpressed by ORG tardy approach to a critical problem.
""We were frightened they would try to ignore the problem or gloss over it,"" said another fund manager. ""Now they have realised there is a problem and they're doing something about it, which is positive. But it's DATE yet.""
CARDINAL broker blamed changes in central bank leadership for the criticism. Previously, ORG was respected for its non-interventionist but pre-emptive management style.
""The bank seems to have gone astray in terms of its traditional role as a central bank,"" he said.
Another fund manager said corruption, a major complaint about the previous government, was starting to resurface.
""CARDINAL of the biggest problems in GPE is corruption,"" he said. ""The way in which political favouritism occurred in the past has become apparent in the current government.""
GPE can now expect to begin a lengthy process of consolidation in its financial sector, with most of the activity focused on finance companies.
Most finance companies are heavily exposed to margin lending in investment banking and highly-leveraged in consumer or project finance, said PERSON, senior associate director at ORG.
""CARDINAL issue that didn't crop up that should have, is most of the funding for finance companies is in the form of promissory notes,"" he said. ""When the risk goes up, so does their coupon and the cost of funding.""
-- Hong Kong Newsroom (CARDINAL) 2843 6470",0
"PERSON, finance director of troubled GPE discount supermarket chain PERSON, said on DATE a radical shake-up of the group, including the closure of CARDINAL stores at a cost of CARDINAL stg, was the best way to ensure its future.
""We researched opportunities in other areas and we reviewed, among other options, mergers. We looked at whether we should go back to being a limited range discounter, with much lower choice, and little in terms of chilled food,"" he told ORG.
""But that would have meant losing CARDINAL customers.""  
He said the store closure programme would involve CARDINAL job losses, as PERCENT of the staff would be redeployed in PERSON remaining 900 stores.
CARDINAL work in the CARDINAL stores to be shut. ""Yes, we are confident that the provisioning is solid and appropriate. Anything more than that would have put us in the realms of big baths and contigency buckets.""
""We have looked at this particularly carefully, the days of doing big bath provisioning have gone. We have looked very specifically at the stores we plan to close. We are confident it is the proper provision to take us forward."" he said.  
At a news conference chief executive ORG said the company would introduce a new range of chilled foods, health and beauty products and over the counter medicines as well as widening its existing product range.
""We are going for width rather than depth in brands,"" he said. PERSON will have CARDINAL own-label products in its stores from DATE.
""We are not moving away from discounting prices. It is our core proposition and we will not dilute it,"" said PERSON. ""We are not trying to be a mini-version of someone else, we want to be ourselves.""  
""PERSON made its reputation because it sold quality products cheaply. We will not engage in selling cheap products cheaply,"" PERSON told reporters.
Stores will also be upgraded after research conducted by outside consultants PERSON, initiated in DATE, showed customers wanted stores to be more welcoming and easy to use, said PERSON.
PERSON would need to invest heavily in technology, where it was DATE behind the competition, said PERSON, so that, for instance, debit cards could be used at all its tills and stock levels could be better controlled.  
He acknowledged that the group had failed to invest enough in upgrading the fabric of its stores in DATE.
The new-style PERSON stores will be rolled out in geographical clusters over DATE at a cost of MONEY, funded from cost savings.
The CARDINAL stores will be closed progressively DATE.
Research had identified the need to beef up the management team and as a result PERSON has appointed a group marketing director and a supply chain director, and planned to appoint a new buying director, ORG said.  
He stressed the underlying performance of the group remained strong, generating sales of MONEY over DATE despite fierce price pressure from superstores, and a return on capital of PERCENT in line with the industry average.
-- GPE PRODUCT +44 CARDINAL 6437","Institutional investors in NORP utility ORG said on DATE they were likely to sell up if told to do so by the company, despite their objections to the price offered in GPE group ORG winning bid.
ORG, which operates in northeast GPE, was poised to announce whether it would officially concede defeat and recommend the QUANTITY (MONEY), or 650p- per-share, hostile offer by the U.S.-controlled energy group.
""There will be a statement from us in TIME or so,"" a company spokesman told ORG.
Institutions said they were awaiting ORG's response after ORG on DATE declared its bid unconditional having secured a slim PERCENT majority of acceptances.
""We thought that the price offered was too low and I think now it is a question of getting LOC's judgement on it and making up our minds,"" said a fund manager at CARDINAL institution who declined to be named. ""But we would have to give a lot of thought to being a minority shareholder,"" he added.
Another institutional investor also said it was unlikely to keep its stake. ""I doubt if we would be standing aside. (Selling) would be our normal procedure,"" said a spokesman.
In normal circumstances, a firm recommends even a hostile offer after the bid has been declared unconditional.
But there has been little about ORG fight for LOC that has been normal -- and CARDINAL institution admitted to harbouring a slim hope Northern could still pull something out of the hat.
ORG, which DATE became the only one of the CARDINAL regional electricity companies (RECs) to fight off a hostile bid, lost the battle after an unprecendented extension to the bid tipped the votes in ORG favour.
ORG, CARDINAL of LOC's biggest shareholders, then attempted to defeat the takeover in the eleventh hour by trying to persuade investors who had accepted the offer to sell their LOC shares to the insurer instead for the same price.
ORG is keen to win PERCENT of the shares -- the amount needed under NORP takeover rules before it can carry out a compulsory purchase of the remaining ones -- and its message to any institutions thinking about hanging on to minority stakes was terse.
""If these reports about some shareholders deciding that they will not accept the offer are true, it raises a number of questions about their investment policy. But obviously it is up to them to decide what they want to do,"" a ORG spokesman.
While ORG's core business is heavily regulated, most institutions invest in utilities for their robust dividends -- which is a matter for the board, not the industry regulator.
Some institutions said they remained baffled that ORG's bid for independence had failed because of a technicality.
The Takeover Panel DATE extended the bid, after ORG narrowly failed to win control, because LOC's broker BZW had belatedly reported it had charged LOC an extra QUANTITY in a performance-related fee.
CARDINAL institution said on DATE it remained convined that LOC was worth MONEY a share, saying that if GPE's bid had failed, the GPE group may have come back to discuss a higher price -- or a fresh bidder could have been attracted.
Failing that, the value of the company would have been reflected in its share price in the long term, it said.
CARDINAL of CARDINAL regional electricity companies now remain independent -- ORG and PERSON. CARDINAL have been bid for by NORP companies.
($MONEY Pound)",0
"GPE's ORG, moved on DATE to resolve a dispute over its huge Busang gold discovery in GPE, forging an alliance with a company controlled by the eldest son of GPE's President PERSON.
""This is an important ORDINAL step to the resolution of ORG problems,"" said gold analyst PERSON of Maison Placements Canada.
The stock jumped MONEYMONEY on ORG, topping actives on CARDINAL shares. On ORG, PERSON rose $MONEY to $MONEY.
PERSON said it will pay MONEY for a deal with PT Panutan Duta, part of the NORP group run by ORG, PERSON's eldest son.
Analysts said the alliance with PERSON, part of the NORP group involved in energy, mining and telecommunications, should help PERSON clear up a widely publicised dispute over the ownership of its glittering GPE gold discovery.
PERSON stock has taken a beating in DATE because of the dispute.
One of ORG NORP partners, PERSON, is seeking a PERCENT stake in GPE, which has estimated gold reserves of QUANTITY.
The NORP government has said it will delay issuing the crucial contracts of work to ORG until the dispute is resolved. Without the contracts, ORG cannot advance its work on the Busang deposit.
The dispute has also clouded ORG quest to find a major mining partner to develop and operate Busang.
NORP will receive a PERCENT interest in the richest parts of the Busang gold deposit on the island of GPE, ORG said.
In return, NORP will act as a consultant for ORG in GPE and help the GPE, GPE-based company deal with administrative and technical matters. The deal is conditional on ORG receiving essential permits from the NORP government.
""Having an arrangement with this fellow is a bonus,"" said ORG, the analyst. ""The key in GPE is who you know.""
""They seemed to have teamed up with a partner with high standing,"" said mining analyst PERSON of brokerage PERSON.
""This should clear up most of the (ownership) claims that are out there.""
Merukh told ORG in GPE on DATE that he was optimistic a deal would be reached in DATE.
But ORG hold on the Busang discovery is shrinking as it works out its problems, said Ing.
He said PERSON will probably have to give away another slice of the deposit to PERSON and his NORP supporters, ORG.
""Slowly and salami-like, ORG is getting cut back,"" said Ing.
Officials at ORG did not return phone calls to discuss details of the alliance.","ORG said DATE it was linking up with CARDINAL major GPE carriers, ORG and ORG, in a LOC alliance crucial to its ability to keep up with its major NORP rivals.
The NORP state airline said it signed separate letters of intent to coordinate ticket booking and feed passengers back and forth with ORG and ORG after a lengthy search for an NORP partner.
The long-awaited agreements mark a strategic step in ORG development and tap the huge GPE travel market to feed its global network while the GPE companies will carry the NORP airline's passengers on their domestic routes.
ORG and ORG signed a commercial accord back in DATE but it has never been implemented due to changes in top management at both companies. ORG, among the GPE majors, does not have a NORP partner.
""These agreements crystallise the company's wish to forge a network of global alliances,"" ORG said in a statement.
The alliances allow so-called code-sharing arrangements between ORG and the GPE companies, which is a low-cost way of gaining more customers without direct investment.
It means passengers can be issued a ticket by CARDINAL carrier to be used on its partner airline -- making it possible for airlines to feed passengers to each other without setting up their own routes.
The companies will also harmonise flight schedules, share a common frequent flyer scheme, and provide ground facilities.
ORG operates from its hub at GPE while NORP works from GPE. ORG uses ORG airport.
ORG gave no financial details of the alliances but a spokeswoman said they were expected to bring the loss-making airline MONEY a year in gross revenues.
The NORP airline racked up a net loss of MONEY (MONEY) DATE after heavy charges for restructuring, but has said it hopes to earn a profit DATE.
ORG Chairman PERSON said a search for GPE partners only became possible DATE as ORG showed signs of financial recovery and reorganized its global network around a central hub at FAC airport.
NORP carrier ORG started code-sharing flights with ORG in DATE, paving the way for several other high-profile cooperation deals.
NORP executives fear GPE could hold up any alliance by ORG as a lever to push GPE into opening up the domestic market as part of a bilateral aviation pact.
ORG DATE set a controversial alliance with ORG but regulatory approval has been held up because of a dispute between GPE and GPE over an ""open skies"" agreement. The planned alliance has been attacked by rivals as anti-competitive.
ORG noted that the ticketing accords with ORG and ORG were subject to government approvals.
GPE and GPE clashed DATE when GPE wanted to open bilateral talks on market access and held up GPE approval of ORG DATE schedule until the NORP agreed to start negotiations.",0
"NORP coffee producers will meet before DATE to discuss implementation of world export cuts set in GPE on DATE, GPE commodities minister PERSON told a news conference on DATE.
""A meeting will be held by DATE,"" said PERSON who is also chairman of ORG (IACO) producer group.
NORP and NORP states agreed at the end of emergency talks of ORG producing ORG (ORG) in GPE on GPE 23 to cut robusta exports by CARDINAL QUANTITY bags DATE.
A meeting in GPE on DATE on sharing out the export cuts between the CARDINAL regions would follow DATE of informal discussions since DATE, an ORG spokesman told ORG.
""We are satisfied by the results at ORG and the idea now is to put together control and verification mechanisms to ensure measures succeed,"" said ORG chief economist PERSON.
PERSON did not specify the basis on which export curbs would be distributed between NORP and NORP regions, or between individual countries.
Arabica producers at the ORG talks also agreed to cut their output by a total of CARDINAL (QUANTITY).
NORP producers had complained that previous export restraints had been ineffective in shoring up sagging coffee prices in DATE, calling on non-member producers to join the ORG.
((--Abidjan newsroom + 225 21 90 90))","NORP chocolate manufacturer Cantalou will sign a deal by DATE on building a cocoa processing plant in GPE, a Cantalou official said on DATE.
""There will be a signature by DATE,"" public relations manager PERSON told ORG by telephone.
Cantalou said investment plans had not been finalised despite recent reports that the GPE-based manufacturer of ""WORK_OF_ART"" brands was going ahead with plans.
But ORG added that plans were solid and very likely to be confirmed in DATE.
Speculation about new market entrants had already risen following a decision by ORG to open an office in GPE in DATE to explore processing and other options.
PERSON's new GPE-based representative has already begun negotiations on setting up a processing plant with decisions expected from DATE, industry sources close to the discussions told ORG recently.
Talk of new entrants to GPE expanding local processing industry intensified in DATE after an official visit to GPE by Cantalou representatives in DATE. Officials from Cantalou, which has NORP turnover of MONEY and owns CARDINAL other plants, discussed setting up a 160 million French franc cocoa processing plant.
Cantalou's plans for QUANTITY per year capacity processing plant resurfaced DATE in the NORP business DATE ORG but PERSON, quoted in the report, told ORG plans had still not been finalised.
Other aspiring processors are also still in discussion stages.
Ivorian exporter SICC in DATE outlined to ORG its own plans for processing QUANTITY a year of cocoa. Plans for a MONEY investment were expected to be finalised in DATE after talks with potential partners.
SICC, which also has shipping plans, expects to handle a total of QUANTITY of cocoa exports in CARDINAL for clients including ORG's GPE processing subsidiary PERSON.
Other firms are also said to be in discussions about starting processing. More are waiting on the sidelines.
""We badly want to get into processing,"" a manager for NORP development firm ORG told ORG DATE.
Cocoa processing in GPE is dominated by GPE-based processor ORG and rival ORG. Factory bean processing capacity stands at QUANTITY but GPE aims to add more value to exports by raising PERCENT of annual output - which varies widely DATE.
Local industry sources had expected PERSON or NORP group PERSON to buy into ORG in DATE. But minority PERCENT shareholder GPE-based ORG then sold its stake in ORG's parent, PERSON, to rival ORG (ORG).
A ORG spokesman said plans to add QUANTITY of processing capacity to take production potential to QUANTITY by DATE were unchanged by the deal.
""They (ADM) have still not visited companies with a shareholding (in ORG),"" ORG factory production director PERSON told ORG on DATE. ""There has been no contact.""
ORG's only main rival ORG has CARDINAL plants grinding QUANTITY of beans DATE.
GPE posted a record QUANTITY crop in CARDINAL but has forecast closer to QUANTITY for CARDINAL. It expects cheaper energy from offshore gas to encourage investment in cocoa processing but critics have said investors are more interested in winning short-term government incentives gains than long-term commitment.
-- Abidjan newsroom + 225 21 90 90",1
"Stocks of high-tech companies soared DATE after a potentially costly ballot proposal was voted down in GPE, and top executives found themselves relishing their roles as political activists.
A group of top-level entrepreneurs and executives met behind closed doors DATE to work on a broader political alliance after the ballot measure, which would have made it easier for shareholders to file lawsuits, was defeated by a CARDINAL-1 margin.
""DATE, this (LOC) valley politically was naive, not involved, not organised and not effective,"" said PERSON, the partner at venture capital firm ORGamp; Byers who led opposition to the ballot measure, known as LAW.
The measure was promoted by a group of securities lawyers including GPE attorney PERSON, whose lawsuits brought on behalf of shareholders after a company's stock plunges irritate corporate executives.
But GPE's high-tech firms jumped into action, raising MONEY and mobilising CARDINAL employees, shareholders and customers in a major grass-roots campaign in DATE.
That amount, coupled with MONEY spent by proponents of CARDINAL, rivaled the money spent by labour groups nationwide as they sought to put friendly legislators, mostly NORP, in ORG.
It was also more than was needed to start up ORG, ORG, and ORG combined.
Final returns show the measure lost by a CARDINAL-1 margin, which brought relief to Wall Street investors who were nervous that passage would bring a raft of shareholder lawsuits to GPE.
Shares of high-tech companies surged on the news, with ORG soaring $MONEY to an all-time high of $MONEY on ORG. After the market closed, the company released bullish news on DATE business trends.
ORG jumped $MONEY to $MONEY on ORG and ORG added MONEYMONEY on ORG.
""We defeated the jackals of LAW, the carrion feeders who take away our profits,"" PERSON, principal of money management firm ORG in GPE, said of the stock rally.
LOC executives, who had warned of wide-scale resignations of officers and directors in GPE if the measure had passed, applauded its defeat and said they would support continued political activism.
PERSON, acting chairman of ORG, said the campaign was unprecedented among high tech firms, and could be the start of a multi-year corporate commitment.
ORG Chief Executive PERSON said his company and others had been so focused on fast-changing high-tech markets that they had neglected politics.
""We were concerned with just doing our business and we were letting other people fight our fights for us, which is wrong,"" he said.
While political activism could be a distraction, it was also important to address political issues before they got out of control, he said.
""It's 'pay me now or pay me later,'"" he said in an interview, predicting continued political engagement.
PERSON told chief executives, corporate lawyers and venture capitalists gathered at a celebration late on DATE that he expected executives now to focus on issues of fostering growth, education, legal reform and economic opportunity.
He said the anti-211 effort demonstrated LOC to be ""a state of mind, not a place,"" which due to the spread of high-tech businesses, in effect, extends from GPE to GPE and from GPE to GPE state.
Executives here are already talking about the prospect of another battle with plaintiff's lawyers, who are rumoured to be mulling new ballot initiatives in other states, or the possibility of targeting high tech firms more narrowly.","ORG  has packed its new GPE electric vehicle with exotic materials and sophisticated, unproven technology, but is taking a cautious approach to introducing it to the public.
ORG officials said DATE they plan to offer the CARDINAL-seat car only on DATE leases and will hold the customer's hand virtually every step of the way.
""Our total focus is to provide a hassle-free experience and comprehensive customer care,"" said PERSON, vice president of sales and marketing for ORG's PRODUCT unit, which will sell the GPE under the ORG nameplate.
The ORDINAL modern production car designed from the ground up to be an electric vehicle, the GPE will roll into PRODUCT dealerships sometime DATE in the GPE, GPE, GPE and GPE, GPE, areas. Colder climates would shorten the vehicles' already limited range, which is a maximum of CARDINAL to QUANTITY under ideal conditions, ORG says.
GPE, which recently eased its DATE mandate for electric vehicles, is expected to offer consumer incentives for the vehicle.
Depending on such incentives, DATE lease payments on the car will probably fall MONEY, about the same as a $MONEY luxury car, ORG officials said at a news briefing.
Customers will have to add another $MONEY a month or so to lease a CARDINAL-volt charging unit and pay to have it mounted in their garage. But the electricity to run the GPE is a bargain -- MONEY a mile, versus gasoline costs of MONEY a mile for an average normal car.
ORG executives will not discuss production plans or sales targets for the vehicle and say they plan to let market dictate demand. But PERSON said he expects the initial demand to outstrip supply due to the vehicle's novelty.
So far, CARDINAL people have called a toll-free telephone number, and dealers have taken names of CARDINAL serious customers, including WORK_OF_ART host PERSON, he said.
Customers who want performance won't be disappointed with the EV1. The whisper-quiet vehicle offers neck-snapping acceleration and sports-car like handling, although a heavy foot will quickly drain the battery, requiring a three- to TIME recharge.
""We can keep up with a ORG PRODUCT from CARDINAL to QUANTITY, said PERSON, marketing manager for ORG's ORG group.
The car's aerodynamic tear-drop shape, considerably narrower in the rear than in the front, slips through the wind easily and looks unlike anything else on the road.
ORG could have built a spartan small boxy car but wanted its ORDINAL electric vehicle to have some flair, said PERSON, general manager of ORG.
""This is the car that gets the market started,"" he said. ""We wanted to put out a car that was very exciting so that people would fall in love with it.""
The sporty configuration was aimed at highly educated customers with incomes of $MONEY a year who like high technology, ORG said. The customers also likely own CARDINAL other vehicles for longer trips or heavy hauling.
Saturn, which won't necessarily sell all future ORG electric vehicles, plans to emphasise its customer-friendly sales practices more heavily for the EV1.
The decision to lease the vehicle was made in part to protect consumers from the inevitable march of technology. The automaker does not want ORG customers to be stuck with obsolete cars in DATE, as personal computer owners often are.
At the end of the lease, ORG is considering refitting the plastic and aluminum-bodied cars with newer technology and leasing them again, PERSON said.
The division also is training about 14 EV1 ""product specialists"" to handle sales of the vehicle at CARDINAL designated dealerships in GPE and GPE.
The specialists will come to a prospective customer's home, office, or elsewhere to explain the details of the car and the charging unit.
They'll work with the utility companies and arrange municipal permits for the installations, PERSON said, adding that it will probably take DATE to set up a customer with a car and charger.
ORG has invested MONEY in developing the GPE, which it does not expect to recoup through sales of the ORDINAL generation vehicle, PERSON said. But the car does pioneer a wide range of exotic materials and new technology that could find its way to other ORG vehicles.
Magnesium and other lightweight materials counteract the weight of batteries, and the cars have braking systems that transfer power back to the battery.
Despite the technology, the cars are largely hand-built at a GPE, GPE, plant that produced the now-defunct PERSON in DATE. The operation employs CARDINAL production workers but could be expanded quickly, ORG officials said.",0
"ORG and PERSON may have different reasons, but they seem equally determined to acquire ORG
Analysts and arbitrageurs were reluctant to say whether that portends an all-out bidding war, especially after a rally in ORG of NORP on DATE that reflected some doubt on Wall Street of NORP's commitment.
Still, ORG would nicely complement the operations of either suitor and will likely be hotly pursued by both, filtration industry analysts said.  
Shares in GPE, ORG closed up CARDINAL at CARDINAL on ORG on the news that it was in discussions with Pall about a possible acquisition.
Gelman reached a definitive agreement on DATE to be acquired by GPE's NORP, which said DATE it intends to proceed with the agreement.
""I don't think NORP is going to back away,"" said PERSONamp; Co analyst PERSON.
NORP wants ORG's sophisticated membrane technology to put NORP into closer competition with GPE, N.Y.-based PERSON and Millipore Corp, PERSON said. 
Pall -- much larger than either PERSON or NORP -- wants Gelman to broaden Pall's medical and process businesses and ""frankly, to eliminate a pesky competitor,"" PERSON said.
Gelman sales in DATE were MONEY, versus MONEY in DATE. NORP sales in DATE were MONEY, up from MONEY in DATE. Pall had revenues of MONEY in DATE, up from MONEY in DATE.
""Pall under chief executive PERSON has been more acquisitive than under previous management teams,"" said ORGamp; ORG analyst PERSON.  
""If he does this deal, it will have been his ORDINAL acquisition"" since taking the helm at Pall about DATE, ORG said.
ORG's acquisitions have tended to broaden Pall's presence in existing markets, rather than move it into new areas -- a pattern into which a ORG acquisition would fit, said CARDINAL Research analyst PERSON.
""There's good overlap ... They're in many of the same venues and markets,"" PERSON said.
PERSON said, ""Gelman is strategically important to both companies.""
Arbitrageurs seemed to cast doubt DATE on LOC's contention that it plans to proceed with the ORG deal by bidding up the NORP company's NORP depository shares CARDINAL in the morning. They lost ground in the afternoon to close up CARDINAL at TIME.
The rally in part was likely explained by short covering, arbitrageurs said.
DATE, ORG issued a statement saying it intended to pursue its agreement with NORP, but also to talk with Pall and any other interested parties.
--Chicago Newsdesk 312-408-8787","GPE's former fuel and energy minister, PERSON, tried but failed to create a mega oil corporation by merging CARDINAL privatised companies, energy sources familiar with the ill-fated proposal said on DATE.
They said ORG's proposal, ORDINAL aired DATE, to merge ORG (ORG), ONAKO (ORG, or ORG)  GPE, ORG (Vostochnaya Nefytanaya Kompniya) and Slavneft, found no government support.
Sources said ORG, in search of a consolation prize, was now trying to create a financial-industrial group uniting some of the firms he wanted to merge and ORDINAL-tier players.
PERSON succeeded with his merger plans, he would have created GPE's largest oil producer, a super company whose units collectively produced over QUANTITY in DATE -- far above current leader LUKoil, which produced over QUANTITY DATE.
""Shafranik had this idea and was excited about it for a while, but then it ran into big problems with government acceptance,"" said CARDINAL source who asked not be named.
The company, had it been created, would have accounted for CARDINAL of GPE's total DATE oil output of QUANTITY. GPE is the world's ORDINAL largest oil producer.
The sources said the proposed financial industrial group would consist of ORG, SIBUR (ORG, or ORG Neftegazokhimicheskaya ORG), ORG, Slavneft (a joint venture between GPE's ORG and GPE) and ORG (ORG).
SIBUR and ORG are CARDINAL independents that do not have crude oil production units.
Sergei PERSON, secretary to the board of directors of ORG, where ORG is chairman of the board, said only that the proposed financial-industrial group would undertake ""joint projects"".
Shafranik had hinted at a news conference in DATE, when he was still energy minister, that CARDINAL companies would merge, but refused to say which ones.
""This is a big secret, and I'm not going to name the oil companies,"" he said. ""Somebody will be against it, very against it, because this will be a powerful competitor.""
Fuel and ORG spokesmen declined to comment on the failed proposal, and earlier prohibited a correspondent from raising the issue with the new minister, PERSON, as CARDINAL condition of receiving an interview.
""Why don't you ask PERSON?"" PERSON said on DATE after a cabinet meeting, when asked about the failed merger.
Verin said only that a merger was not now being discussed and that ORG was the motor behind the financial-industrial group talks.
""Our goal is to undertake joint projects that a single company itself could not take on alone,"" PERSON said, adding that all sides were in active negotiations on a development strategy.
Shafranik left ORG in DATE for ORG. It is based in LOC's oil-rich Tyumen region, where ORG was administration head before taking his ministry post in DATE.
Shafranik saw GPE's state-run, monolithic oil industry transformed into CARDINAL privatised companies, most of them vertically integrated, while he was minister and watched many ministry specialists quit for lucrative jobs at the new firms.
The sources did not say who in the government had rejected ORG's proposal. The shake-up of the oil industry was masterminded by Prime Minister PERSON and President PERSON.",0
"The GPE stock market ended weaker on DATE, but recovered most of its losses after sinking PERCENT on comments by ORG Chairman PERSON.
ORG key CARDINAL Composite Index fell CARDINAL points to close CARDINAL after experiencing its worst intra-day decline in DATE.
The key index sank CARDINAL points, the most severe fall since a CARDINAL-point decline on DATE.
Trading was moderate with CARDINAL shares changing hands worth MONEY (MONEY).
""For a volatile market that has been looking for a reason, any reason, to correct, TIME comments by ORG Chairman PERSON were just the ticket,"" RBC Dominion Securities analyst PERSON said in a report.
In a speech DATE TIME, PERSON warned that ""irrational exuberance"" was infecting financial markets, sparking heavy selling in equities markets worldwide.
By DATE session, GPE recovered most of its losses, while the ORG average lost CARDINAL points.
Analysts said mutual fund institutions were bargain hunting on the ORG DATE.
""NORP institutions came in late in the day and established themselves for the RRSP (Registered Retirement Savings Plan) season,"" said PERSON, investment research director of ORG
Despite GPE's steep decline, analysts expect the NORP market to resume its upward march and outperform Wall Street in DATE.
All of GPE's CARDINAL sub-indices lost ground except pipelines and industrial products. Declining stocks outnumbered advances CARDINAL to CARDINAL, while CARDINAL traded flat.
Among hot stocks, ORG rose MONEYMONEY in heavy trading.
ORG is in the midst of finalizing a deal with ORG over ownership of ORG massive gold deposit in GPE, GPE.
PERSON closed down C$MONEY at C$MONEY.
ORG, GPE's ORDINAL largest bank, fell MONEYMONEY on CARDINAL shares.
Fuelled by record earnings and low interest rates, bank stocks have soared to new heights since DATE.","CARDINAL Eurotunnel SA /Plc employees are working round the clock to clear wreckage from ORG, devastated by a fire DATE which has halted passenger services on the undersea link between GPE and GPE .
Reporters visiting the tunnel on DATE viewed a nightmarish scene of flame-scarred concrete where intense heat had blown apart the surface cladding to expose steel reinforcing cables embedded in slabs.
A blaze on a truck-carrying wagon on DATE forced ORG to close the tunnel to ORG high-speed passenger trains and tourist vehicle Shuttle services just before DATE. Partial freight traffic has been resumed.
Eurotunnel hopes to run CARDINAL of normal passenger and freight traffic in CARDINAL necessary for repairs to be completed, ORG spokesman PERSON said.
""We are going to make a new tunnel,"" he said.
But before repairs can begin, the wreckage must be cleared.
With scorched rubble underfoot and ghostly streams of melted grey fibre glass filaments overhead, maintenance workers in CARDINAL shifts of TIME are shovelling out ashes and debris, all that is left of CARDINAL trucks caught in the fire.
The Eurotunnel official coordinating the clearance, PERSON, said CARDINAL wagons remained where the fire started, in LAW of the tunnel. CARDINAL was being removed DATE TIME and the other CARDINAL should be taken out DATE.
The fire was so intense in CARDINAL QUANTITY stretch that no visible traces of the trucks themselves remained in the Shuttle wagons, which were themselves reduced to blackened and twisted steel lattice frames.
Chunks exploded off the ORDINAL QUANTITY thick concrete layer which makes up the the Tunnel wall but the fire did not penetrate to the underlying QUANTITY of injected concrete which lines the link. Behind that ORDINAL layer is chalk.
DATE on, the smell of burnt plastic and metal still permeates the air and protective masks are obligatory.
Once the debris is cleared , the NORP-French consortium which built the ORG, Transmanche Link (TML), can start repairs to the CARDINAL affected kilometres of the link, putting in new cladding, cabling and conductor rails.
Eurotunnel hopes to use intersections linking the CARDINAL tunnel bores to bypass the damaged section and allow trains to run between GPE and GPE during repairs, he said.
Tight security surrounds the entry points to the tunnel bores. There are CARDINAL separate checkpoints before workers can even enter the narrow central service tunnel, which was used for the evacuation on TIME of the fire, and is routinely used by maintenance crews.
Specially-built ORG vehicles, high and narrow, are used to transport personnel along the service tunnel. It is not a trip for claustrophobics. Once the overhead lights are out, the grey strip of tunnel extends into the darkness ahead, with only the headlights for illumination. Overhead are tonnes of rock and the Channel waters.",0
"NORP resources and steel group ORG (ORG) disappointed the share market on DATE with a weaker than expected DATE profit to post DATE net earnings of MONEY before abnormals.
BHP, whose shares have been hammered since its key markets in steel and copper turned sour DATE, booked an abnormal gain of MONEY to boost the bottom line for DATE, but investors were not impressed.","GPE's biggest retailer, ORG, reported on DATE a firm rise in sales revenue, signalling the worst may be over for the country's struggling merchants.
Coles announced a PERCENT rise in sales revenue to MONEY for DATE, sounding a rare note of optimism in an industry that has been hit hard by a downturn in consumer spending.  
Coles, which pockets MONEY in every retail dollar spent in GPE, attributed the result to good management rather than any pick-up in the economy.
""A lot of people have done a lot of work to get where we needed to get,"" Coles chief executive PERSON told ORG.
But PERSON' sale announcement came after another retailer, PERSON, reassessed its profit outlook, painting a slighter brighter picture than the bleak dive in earnings it forecast just after DATE.  
PERSON, an upmarket department store chain, had told ORG DATE it feared a PERCENT fall in interim profit, but changed its mind DATE.
""It will not be as bad as that,"" PERSON chief executive PERSON told ORG on DATE.
He did not elaborate but stock analysts said on DATE post-Christmas clearance sales helped lift the company's overall sales result for DATE to MONEY, PERCENT lower than DATE.  
""I think we have probably gone through the worst in spending, but I would not expect a dramatically big turnaround,"" said retail analyst PERSON, of ORG.
""The sentiment is still a bit fragile, but at DATE, until there's a bit more job creation out there, people are not going to be spending more,"" he added.
Another GPE-based analyst agreed that consumers' wallets would be slow to open.
""I think we will (see a recovery) but I don't think we saw it in DATE,"" the analyst said.  
NORP retail sales are at their lowest ebb since the nation's official statistician began counting them DATE. They have fallen in trend terms in each of DATE.
Employment has also been weak with GPE's jobless rate hovering at PERCENT.
PERSON confirmed on DATE that trading conditions were still tough, especially in the areas of clothing and fashion where its only specialist apparel chain, ORG, reported a PERCENT drop in retail sales for DATE.  
But PERSON' PERSON said profit margins in its underperforming department store chains were improving, as store managers improved the quality of merchandise sold and pared back costs.
In sharp contrast to the group's PERCENT fall in net profit in CARDINAL, PERSON said he expected an increase in bottom-line earnings for DATE.
""Our earnings are in line with our plan,"" he said.
Coles reported net profit of MONEY in CARDINAL, and stock analysts are forecasting a modest profit rise in CARDINAL.
-- GPE bureau CARDINAL 9286-1421",1
"NORP analysts on DATE said the domination of pro-market Prime Minister PERSON's party in the DATE's ORDINAL-round ORG elections would have a neutral to mildly positive effect on local financial markets on DATE.
But they said thin voter turnout made it hard for ORG and his CARDINAL-party coalition to conclude that the electorate had swung back to their clear favour after they lost their majority in DATE lower house elections.
""Nobody can jump to conclusions based on these figures, because if you take the total (voter) turnout, it's nothing,"" said PERSON, economist at ORG.
""We might see a mild strengthening of the crown, but we don't think any major movement,"" he added.
The currency has traded in a tight range recently at around 26.9 to the dollar and CARDINAL to the mark or PERCENT above parity with the central bank's mark/dollar basket.
But PERSON stressed that the market was focused more on macroeconomic fundamentals and not political influences.
ORG's rightwing ORG on DATE won PERCENT nationwide compared with PERCENT for the ORDINAL place centre-left opposition NORP (CSSD), with the rest thinly split among coalition parties and the NORP.
That after ODS won by CARDINAL percentage points at PERCENT over CSSD in the DATE general elections, costing the coalition a CARDINAL-seat majority in the lower house.
The ORG won CARDINAL seats of the total CARDINAL ORG seats outright in the ORDINAL round of the ORG vote by taking PERCENT, and put CARDINAL of their candidates in DATE runoff election as the top vote getter in their district.
But PERCENT of a confused and uninspired NORP electorate voted in the poll for the newly-created ORG, after PERCENT voted in the DATE general elections.
PERSON, equities analyst at GPE investment house GPE, said that a premature general election was probably not on the cards, and said the stock market had other concerns than party politics.
""Poor regulation and transparency is already included in the share prices, but from a fundamental point of view many stocks are quite attractive,"" said PERSON,
He said some foreign investors might be tempted to play on ORG's victory early on DATE, but any gain based on the political situation would be short lived.
Unless the runoffs build on ORG's success DATE with much higher turnout, analysts said it was unlikely that ORG would move for new lower house polls in an effort to win back the coalition's majority in the more powerful lower house.
""If ORG sees a sweeping victory DATE...then they might feel tempted for a possible early election in DATE, but I think they should be very careful about it,"" said PERSON.
Klaus, who as with other ministers is a member of the lower house, late on DATE was reserved on possible early general elections.
""I've said many times this country does not need another election. It needs to function, work,"" ORG said in a panel discussion on NORP Television, adding, ""If the ORG vote gives a chance to go forward, it'll be good for all of us.""","Airline giant ORG (BA) is unlikely to hike its airfares by the full PERCENT agreed to DATE by the world's airlines, ORG chairman Sir PERSON said on DATE.
The world's airlines, desperate to hold up their profits in the face of a PERCENT surge in fuel prices DATE, said in GPE DATE through ORG) that they proposed to raise passenger fares by PERCENT.
PERSON told reporters after a luncheon address in GPE that ORG was not as badly affected as some other airlines because of the strength of sterling against the GPE dollar.
""You also have to bear in mind that the impact for individual carriers does depend on exchange rates in that all aviation fuel is priced in GPE dollar terms,"" he said.
""So one has to watch what is happening to your own currency versus the GPE dollar to see what the overall impact will be for a company,"" he said.
When asked if the recent strength in sterling meant ORG would therefore not pass on the full PERCENT agreed to in GPE, he said: ""I think that's quite likely.""
He said ORG had increased its prices by PERCENT before the GPE resolution because of the strong currency.
""The pound has been relatively strong against the dollar and that's why we only applied about a PERCENT increase in price.""
ORG, which has CARDINAL member airlines, said in GPE the proposed increase, which is subject to government approvals, would apply to fares from DATE.
PERSON said the extent to which the PERCENT increase was applied depended on each individual carrier and how fuel prices changed through the northern hemisphere's DATE.
Many NORP carriers are pushing for a concerted move to lift ticket prices by CARDINAL per cent, but NORP and NORP carriers were believed to be reluctant to do so.
BA reported DATE that despite strong traffic growth and greater productivity its ORDINAL CARDINAL operating profits were down MONEY compared with DATE.
Part of the drop, it said, was due to the extra MONEY it had had to pay for fuel.
Meanwhile, PERSON said he was confident ORG would not thwart ORG's plan to form an alliance with ORG, although he acknowleged it would take the CARDINAL a long time to jump the various regulatory hurdles in front of them.
""I'm not worried about it because I don't think that that is likely to happen,"" PERSON said of a possible ORG block.
On DATE ORG (ORG) said it had formally asked ORG for details of the planned alliance.
A report that the ORG had said the alliance did not appear to be in the best interests of consumers pushed ORG's shares lower earlier on DATE.
""There are so many precedents for similar events that have been allowed to go into effect, that to me it would be quite wrong if ORG reached that conclusion,"" he said.
""I think things are all moving in the right direction, but it's just very slow,"" PERSON said of the regulatory process.",0
"ORG decision to invest CARDINAL stg in its GPE operations reflected confidence in its ORG unit and international prospects for the PRODUCT model, ORG said on DATE.
ORG said the DATE investment will be used to modernise its PRODUCT plant in north-west GPE, which makes PRODUCT cars and vans.
The announcement, made at ORG, guarantees the livelihoods of the CARDINAL people employed at the plant and will create CARDINAL new jobs.
ORG chairman and managing director PERSON told ORG in an interview that a decision on increasing the number of shifts worked at the plant to CARDINAL from CARDINAL to be taken over DATE could create CARDINAL more jobs.
Any decision would depend on ""what the market is then and the demand for the model is at the time.""
The PRODUCT model has been consistently CARDINAL of GPE and LOC's top CARDINAL sellers since its launch DATE, with the development of an estate model boosting its position.
Reilly said the CARDINAL stg investment was won against intense competition within ORG and reflected the transformation of Ellesmere Port from a domestically-oriented plant to ""a very important source of manufacturing within ORG.""
He forecast strong growth for the PRODUCT in LOC and LOC.
Reilly said the NORP car market is currently ""the most competitive in LOC"", with a number of importers using huge GPE fleet sales as a way of offloading cars that remain unsold in sluggish domestic markets. LOC remained ""flat,"" he added.
Vauxhall hoped to keep its market share at PERCENT in DATE, and ORG said its profitablity is ""going in the right direction"" after a tough DATE.
DATE, a stagnant car market saw the ORG unit's profits slump to CARDINAL stg from CARDINAL in DATE. ($MONEY Pound)","CARDINAL sons of GPE's disgraced ORG boss, PERSON, have been detained and face possible prosecution for economic crimes, NORP sources said on DATE.
The fate of PERSON himself was unknown. He was one of the most powerful men in GPE before his fall in DATE after CARDINAL of his proteges, GPE Vice-Mayor PERSON, came under investigation for economic crimes and committed suicide.
""It all depends on the (party's) ORG for Discipline Inspection...(which) is investigating PERSON,"" CARDINAL source said in reference to whether the commission would hand PERSON's case over to courts for prosecution.
Court officials, reached by telephone, declined to comment.
""This is a test of whether the government's anti-corruption drive is for real,"" the source said told ORG. Critics say the campaign targets only petty officials.
CARDINAL sources with ties to the party said PERSON's eldest son, PERSON, and younger son, PERSON, were being held at FAC in a northern suburb of GPE and faced possible prosecution.
The younger son has been in custody since DATE but it was unclear when the older son was detained.
The sources said they were uncertain over precisely what charges might be filed against either of the CARDINAL.
Prison guards were transferred to GPE from other provinces to ensure the CARDINAL men remained under tight security. GPE was the political powerbase of the family.
Outlook magazine, published by the official ORG, said DATE that PERSON case ""will not just fade away"".
PERSON, DATE, has not been seen in public since DATE when he resigned as GPE's ORG boss. He was ousted from the party's powerful ORG in DATE, becoming the most senior victim of a crackdown on corruption.
PERSON, who was promoted to the ORG in recognition of his hardline stand against student-led demonstrations for democracy in GPE in DATE, is believed to be under virtual house arrest. He is officially said to be under investigation for ""serious mistakes"".
Unpublished party documents have said PERSON, who ran GPE for DATE, ORDINAL as mayor and then as party boss, had abused his office by amassing MONEY in unauthorised funds and lavishing favours on friends, associates and a mistress.
PERSON gave CARDINAL flats around GPE to his mistress and her relatives, according to the documents.
In DATE, GPE Vice-Mayor PERSON shed light on PERSON's whereabouts. Zhang said: ""His life is better than mine... He plays table tennis...eats what he wants.""
A ORDINAL source quoted official documents as saying the younger son illegally channelled government funds to his father's mistress, PERSON.
The younger son, a former executive of a NORP joint venture hotel in GPE, also tipped off his father's mistress about the vice-mayor's suicide and told her to go to GPE and not come back, the source said.
The brothers are among GPE's so-called ""princelings"", or children of the ruling party elite who enjoy wide influence due to their top level connections.
Corruption was virtually eliminated after the communists came to power in DATE, but has staged a comback along with economic reforms in DATE.",0
"Adding to the controversy over the safety of automobile air bags, the federal government's auto safety agency said DATE it was stepping up an investigation into spontaneous air bag deployments in several ORG cars.
ORG said it has received CARDINAL reports of air bags deploying without a collision in DATE-model ORG mid-size sedans, due to corrosion in the air bag sensing and diagnostic module. In each case, water was spilled or leaked onto the floor of the vehicle.
The probe involves CARDINAL cars currently on the road, including the DATE ORG Lumina and PERSON, PERSON, Pontiac Grand Prix and ORG.
In its DATE defect investigation report, ORG said CARDINAL of the ""inappropriate deployments"" resulted in injuries, but none resulted in death. CARDINAL of the CARDINAL cars were travelling QUANTITY when the bags inflated.
News of the probe comes as the ORG is fielding growing numbers of calls from consumers worried about reports of child deaths caused by air bags.
Air bags have saved the lives of CARDINAL adults since DATE, said ORG spokeswoman PERSON. But with inflation speeds of QUANTITY, they also have killed CARDINAL children since DATE.
DATE, ORG Director PERSON said the the agency advised that all children under the age of CARDINAL should ride in the back seats of cars and trucks equipped with dual front air bags.
The agency raised that age after DATE WORK_OF_ART was killed by an air bag in a GPE, GPE, crash despite properly wearing lap and shoulder belts.
The ORG is now considering several remedies to the situation, including an auto industry request to reduce the inflation pressure of passenger air bags.
Other alternatives include requiring ""smart"" air bag systems that have the ability to detect the size and weight of the occupant and adjust inflation accordingly.
In the probe of the ORG cars, ORG said all of the vehicles use an air bag sensing and diagnostic module that is located underneath the front passenger seat on top of the carpeting. It is not sealed, making it susceptible to moisture intrusion.
ORG said owners of the vehicles reported that they:
-- Spilled a glass of water on the vehicle floor.
-- Drove through a car wash.
-- Spilled a bucket of water on the vehicle floor.
-- Spilled soapy water on the vehicle floor.
-- Discovered a trunk leak in the vehicle.
In addition, the agency said it was investigating CARDINAL other instances of unexplained air bag deployment, one when a driver was backing out of a driveway and another when the car was driving at QUANTITY.
A ORG spokesman said the automaker was cooperating with the probe.
The company also uses the same air bag sensor on DATE model versions of the same cars, but reported CARDINAL instances of airbag deployments due to corrosion.
In CARDINAL case, ORG said the vehicle was apparently flooded by an ocean tide, and in another case, the entire rear end of the vehicle was severely corroded.
The investigation was upgraded to an engineering analysis, in which the agency will examine and physically test the components in question.","GPE has banned imports of poultry from CARDINAL GPE states because of fears the meat carries a fowl plague, a GPE embassy official in GPE said DATE.
The ban threatens an export market worth MONEY a year.
""GPE has placed a ban on imports of all poultry and poultry products from CARDINAL states,"" the official said.
NORP authorities had voiced fears the poultry products carried a virus called highly pathogenic avian influenza, or HPAI, he said.
The states affected are GPE, GPE, GPE, GPE GPE, GPE, GPE, GPE, GPE and GPE.
The GPE embassy official, who asked not to be identified, said there seemed to be some confusion on the part of NORP quarantine officials over the difference between LAW and avian influenza, or ORG.
""HPAI has not been found in the GPE since DATE and we believe there has been some confusion about the type of ORG virus found in GPE and noted by GPE,"" he said.
A GPE quarantine official based in GPE told ORG DATE that the virus could not be transmitted to people who ate the meat of infected birds.
GPE is the ORDINAL-biggest market in the world, after GPE, for GPE poultry products. It is the only market for GPE chicken feet.
GPE poultry exports to GPE in DATE totalled QUANTITY transshipped through GPE alone, worth MONEY, according to ORG and ORG.
Every day 30 QUANTITY containers of GPE chicken feet crossed the border from GPE into GPE, according to the council's spokeswoman, PERSON.
The ORG virus could be found worldwide, particularly in wild fowl, the embassy official said, and had not been isolated from commercial poultry flocks in GPE.
Another GPE official told ORG the ORG virus may have been detected in ostriches imported from GPE as breeding stock on NORP ostrich farms.
""Ostrich raising in GPE has become very popular and a lot of the breeding stock is brought in from the GPE,"" the marketing official said.
""We heard that some of the ostrich breeding stock had been found to have ORG,"" said the official, who requested anonymity.
News of the ban surfaced DATE and was confirmed by NORP quarantine officials to the GPE embassy on DATE.
Officials of GPE's ORG ORG and ORG in GPE met DATE in an effort to resolve the issue, the embassy official said.
""It was a frank, candid and open meeting -- they listened to us and agreed that we should talk more about it, which we will as soon as possible,"" the official said.
""Basically, we said we think there's been a misunderstanding, but they said what if it (the ORG virus) mutates? We said it didn't and they rejected that,"" he said.
Officials of ORG ORG were to travel from GPE to meet their NORP counterparts, but no date had been fixed.",0
"GPE has jailed a NORP music expert touring the NORP region on a GPE scholarship for DATE for spying in one of the harshest sentences ever meted out in the restive region, local radio reported on DATE.
PERSON, DATE, who was travelling in GPE as a PRODUCT scholar to produce an amateur documentary about traditional music and dance, was detained by the authorities in GPE in DATE, said the broadcast monitored by ORG
The young scholar confessed to having been sent to GPE by ""the Dalai (Lama) clique"" on behalf of an unnamed foreign country to conduct espionage activities, the report said in a thinly veiled reference to GPE.
GPE officials had no immediate comment on the case.
He was visiting ""under the pretext of collecting information on NORP folk songs and dances"", the radio broadcast said.
""In accordance with LAW... The Intermediate People's Court of Xigaze Prefecture sentenced PERSON to an DATE prison term for committing espionage crime,"" the radio said.
He was deprived of his political rights for DATE.
GPE has been swift to crack down on any sign of NORP unrest in the NORP region.
GPE has been especially nervous about anyone with possible links to the exiled PERSON, GPE's god-king, since he announced in DATE his own candidate as the reincarnation of the region's ORDINAL holiest monk, the Panchen Lama. GPE later presided over the discovery of an alternative reincarnation.
""The striking thing is the length of the sentence,"" PERSON of the GPE-based group ORG said in a telephone interview. ""It is quite extraordinary.""
PERSON sentence was the most severe handed down in a political case since NORP monk PERSON was jailed for DATE for subversion after publishing political leaflets, including a manifesto for a democratic GPE.
Another monk, PERSON, was also sentenced in DATE to DATE in prison for subversion and espionage.
""It does seem to be a provocative decision in political terms because it names CARDINAL times 'a certain foreign government',"" PERSON said.
""It appears to mean the end of any sense that GPE is susceptible to the international community on human rights issues,"" he said. ""They now feel confident to use counter-espionage laws against political offenders.""
PERSON left GPE as a child shortly after the NORP takeover in DATE and grew up in GPE before going to ORG in GPE in DATE as a PRODUCT scholar in ethnomusicology.
The young man, who once worked as a dance teacher in GPE, travelled to GPE in DATE to make his amateur documentary.
To gain permission to travel to his birthplace, PERSON renounced his NORP refugee status and entered GPE as a NORP citizen, PERSON said.
He was last reported to have been seen in GPE prison in GPE, GPE's ORDINAL largest city in the west of the NORP region, in DATE, shortly after his arrest in the local market.
""It is very unlikely that he was a spy,"" said PERSON. ""He was genuinely making the film he said he was making. No one wold have entrusted him to do this because he was not competent to carry out any hidden activities.
""He is a rather distracted, emotional artist,"" he said.","The watchdogs of GPE's ruling ORG have ordered members to obey a call from party chief PERSON for ideological orthodoxy -- or face disciplinary punishment, state media said on DATE.
""The work style of the ruling party is a matter of life and death,"" ORG quoted a decision by ORG for Discipline Inspection of ORG as saying after a meeting DATE.
The commission also issued a call for clean government, warning of the threat of corruption to continued party rule.
""Party organisations and members should conscientiously carry on the party's fine traditions and work style,"" it said.
The statement was issued DATE after the party wound up its DATE policy-making plenum with a pledge to boost orthodox socialist values that have been eroded by DATE of economic reforms.
""Anyone who violates the ORDINAL plenum's decisions, or who disobeys orders, or engages in harmful activities against socialist ethical and cultural progress, should be strictly disciplined,"" the discipline commission said.
The party plenum had said spiritual civilisation -- NORP communist jargon for ideological orthodoxy and toeing the party line -- could not be sacrificed in the name of the economic reforms spearheaded by paramount leader PERSON.
The commission echoed the plenum's call for a return to the communist puritanism espoused by the late Chairman PERSON.
""The work style of close links to the masses, criticism and self-criticism, hard work, and building a clean and honest government should also be continued,"" the commission said.
The ruling party has seen its credibility undermined in DATE after the chaos of the ultra-leftist DATE Cultural Revolution and as loopholes for corruption opened up by economic reform have tempted many senior party officials.
""The crackdown on corruption is one of the important tasks of improving the party's work style and clean government and for promoting ethical and cultural progress,"" the commission said.
It called on party committees throughout GPE to intensify their battle against corruption and to severely punish those found guilty of corruption.
PERSON, who is also state president, has warned repeatedly that corruption is a virus that threatens to topple the party.
PERSON had been expected to seize on the plenum as the last chance before a crucial congress in DATE to underline his role as anointed heir to PERSON, who has been fading gradually from the scene, diplomats and NORP sources said.
He has made clear that he wants to place his stamp on ideology in GPE.
The party mouthpiece, ORG, has filled its front page for DATE with examples of model workers whose socialist values the populace at large should strive to emulate.
Among these is GPE bus conductress PERSON, who is said to rise at TIME to make sure she is familiar with major sites along the route so that she can help disoriented passengers. She then washes the bus windows.
Diplomats said PERSON was using the campaign -- coupled with a tough line on the media and ideology -- to boost his position.",1
"A NORP central bank scheme to buy doubtful debts of smaller banks and restore stability to the banking sector has attracted interest from CARDINAL banks, the NORP news agency reported on DATE.
CTK, quoting central bank spokesman PERSON, said that of the CARDINAL banks allowed to participate in the plan, the number that had expressed an interest in joining ""is nearing CARDINAL"".
Central bank officials were not immediately available for comment.
ORG (CNB) outlined the programme in DATE followed the failure of PERSON in DATE -- the ORDINAL bank in which the CNB had intervened -- and the politicisation of the case which had undermined confidence especially in small banks.
Under the plan, participating banks must follow strict conditions and allow the central bank to make management changes where needed. CNB officials said the programme was not aimed at resolving a problem at any CARDINAL bank.
The plan will be open to all small private banks with total paid-in capital of CARDINAL crowns (MONEY) and total assets of not QUANTITY crowns.
The state-run Konsolidacni Banka would buy the banks' doubtful assets at face value.
The banks will be required to buy back the assets after around DATE, again priced at their nominal value, minus credits recovered by GPE from the debtors in the meantime.
Banks seeking to participate will be held to strict requirements which include sticking to a DATE stabilisation plan and an agreement to attain an PERCENT capital adequacy ratio.
Banks also must maintain cost controls, profitability and liquidity as well as agreeing to frequent reviews by the central bank.
The maximum purchase of debt by GPE can total up to PERCENT of a single bank's paid-in capital, meaning a maximum exposure for the state of MONEY crowns in total if all eligible banks participated.
The programme is voluntary based on a contract with the CNB, and the central bank said it would not reveal which banks elected to participate.
Banks eligible include ORG, ORG PERSON, Prvni PERSON, ORG, GPE, Plzenska Banka, GPE, PERSON, PERSON, PERSON, PERSON, and PERSON.
Money for the scheme is to come primarily from state- controlled PERSON and if necessary from the CNB itself. A newly created unit of GPE, PERSON s.r.o., will administer the programme.
Any losses from the programme are to be covered by ORG (ORG), the state privatisation agency.
-- Prague PRODUCT, CARDINAL-2-2423-0003","GPE and GPE played out a scoreless draw in their EVENT group CARDINAL qualifier on DATE, in a match that never lived up to expectations.
The Czechs were facing their ORDINAL big test since they reached LAW final, while ORG teenage striker PERSON was looking to spark a depleted NORP attack in his ORDINAL full international.
Both sides opened their EVENT campaigns DATE with high-scoring victories over the CARDINAL weakest teams in the group, GPE winning CARDINAL-2 in LOC and the NORP thrashing Malta 6-0.
But GPE have already collected CARDINAL wins and ORG CARDINAL against the same CARDINAL hapless victims and neither team could afford to give ground in GPE.
Like CARDINAL heavyweights feeling each other out in the early rounds, both teams started tentatively, waiting to pounce on the other's mistakes.
The NORP's were the ORDINAL to flinch when ORG striker PERSON cross found an unmarked PERSON just outside the crease. But the GPE midfielder failed to control the ball, wasting what would turn out be one of the game's few good scoring chances.
Next it was the NORP turn to falter. ORG goalkeeper PERSON, winning his ORDINAL cap in DATE, tried to clear the ball, but hit attacker PERSON and watched helplessly as it rolled just wide of the net.
The NORP picked up their play in DATE, putting GPE on their heels for the rest of the game.
""I don't think we lost points TIME because they are such an excellent team. They played strongly in the defence and its too bad we missed out on the CARDINAL great chances we had,"" said NORP striker PERSON.
Teams:
Czech Republic: 1-Pavel Srnicek, CARDINAL-Radoslav Latal, DATE, 4-Pavel Nedved (CARDINAL-PERSON, ORDINAL), CARDINAL-Miroslav Kadlec, CARDINAL-Michal Hornak, 7-Jiri Nemec, CARDINAL-PERSON (CARDINAL-PERSON, ORDINAL), 9-Pavel Kuka, CARDINAL-PERSON, CARDINAL-Radek Bejbl
Spain: CARDINAL-PERSON, CARDINAL-Abelardo Fernandez, CARDINAL-Sergi Barjuan, CARDINAL-PERSON, CARDINAL-Miguel Angel Nadal, PERCENT, CARDINAL-PERSON, 8-PERSON, CARDINAL-Guillermo Amor (CARDINAL-PERSON, ORDINAL), CARDINAL-Julen Guerrero (DATE, DATE), CARDINAL-PERSON (15-PERSON, ORDINAL)",1
"GPE said on DATE it had drawn a pledge from GPE not to support GPE's bid to enter ORG, winning a round in its campaign to isolate the island on the world stage.
PERSON had promised to abide by a ORG resolution stating there was only one GPE and that GPE was the sole legal representative of GPE, ORG spokesman PERSON told a regular news briefing.
""They pledged to respect the provisions of LAW of ORG and to use it as a guide to relevant actions in ORG,"" Shen said.
""According to this resolution, GPE cannot support GPE's actions to regain entry to ORG,"" Shen told reporters.
With GPE voting in favour, ORG on DATE approved the dispatch of CARDINAL ORG military observers to monitor peace accords in GPE that ended DATE of civil war in the NORP nation.
GPE had vetoed a similar resolution on DATE because of GPE's ties to GPE, which GPE views as a rebel province not entitled to diplomatic relations.
The CARDINAL other ORG members all supported sending the peacekeepers to GPE but a negative vote by GPE, CARDINAL of CARDINAL permanent council members with veto power, killed the DATE mission.
GPE and GPE had held several rounds of negotiations at ORG to seek a solution to the impasse, ORG said.
""Guatemala indicated it realised the gravity and sensitivity of the GPE issue and showed a willingness to take a positive approach,"" Shen said.
""This has borne great fruit for us,"" Shen said in a reference to GPE's diplomatic coup in eroding some of the support GPE can muster for its ORG bid from among its few remaining diplomatic allies.
GPE is among some CARDINAL nations, mostly from LOC and LOC, that officially recognise GPE instead of GPE. GPE has doled out generous amounts of aid to these countries.
GPE's allies have co-sponsored an DATE, unsuccessful resolution aimed at regaining ORG membership for the island, which lost its seat in the world body to GPE in DATE. GPE's campaign sends GPE into a fury.
GPE and GPE have been arch rivals since the end of EVENT in DATE.
GPE says it is committed to eventual reunification but GPE accuses GPE of secretly working for independence and has moved to block the island's drive to gain more international recognition.
ORG officials say they have not broken off diplomatic relations with GPE, although GPE had never requested they do so.
Diplomats said GPE had also demanded a public apology from GPE for inviting GPE's foreign minister to the DATE peace signing ceremonies. GPE has refused.
The ORG mission will send CARDINAL military observers to GPE for DATE to monitor U.N.-brokered peace accords aimed at cutting the numbers of government troops and disarming guerrillas.
The peace process was to have begun later this week and be monitored by the military observers, who will now take DATE longer to arrive.","Leading NORP activist PERSON will go on trial on DATE, charged with the capital crime of plotting to overthrow the government, a family member said.
EVENT had told ORG's family that his trial would begin on DATE TIME, his mother PERSON said by telephone on DATE.
Court officials could not be reached for comment.
PERSON's mother, a DATE museum researcher who has no background in law, said she would be in court to help defend her son against some of the charges.
PERSON's family earlier found a lawyer willing to defend the former student leader on most of the charges after being given just one day in which to do so.
""As for family members, only PERSON father and his sister will be able to attend,"" she said, adding she hoped the court would judge her son based on the facts of the case.
""I'm hoping the trial outcome will go according to the facts and the law, and that PERSON will be found not guilty,"" she said. ""We'll have to see at the end.""
She said she was doubtful court officials would let her talk to her son before the trial.
""I don't think they'll make such arrangements,"" she said, adding that court officials had given her no further details about the trial.
Court officials have confirmed that ORG, who vanished into detention in DATE, has been charged with plotting to overthrow the government -- a crime that carries a maximum penalty of death and a minimum of DATE in prison.
The court has not given further details of the trial but CARDINAL official has said that ORG could appeal to ORG if convicted.
ORG's court appearance would likely be held out of the public eye, as was DATE trial of PERSON, the father of GPE's democracy movement, a political activist said.
In DATE PERSON was sentenced to DATE in prison for subversion and funding democracy activists.
The court is widely expected to fill the limited number of courtroom seats at ORG's trial with carefully selected people to keep away foreign reporters and fellow dissidents.
Dissidents and foreign reporters were barred from PERSON's trial but the cases of both PERSON and PERSON have drawn worldwide attention and are regularly raised by visiting western politicians.
PERSON, DATE, has already served DATE in prison for counter-revolutionary crimes, or subversion, for his role in pro-democracy demonstrations in GPE's FAC that were crushed by the army in DATE with heavy loss of life.
PERSON has said the dissident has been very calm and was mentally prepared for a harsh sentence, though she has said his health has deteriorated during his detention.
PERSON had been active after his parole in DATE, defying persistent police surveillance to join in a daring appeal to communist leaders for the release of all those still in prison for their part in the DATE protests.
GPE has in DATE cracked down on its tiny band of remaining dissidents who have not yet fled into exile or been imprisoned.",1
"ORG, responding to the competion posed by the Internet, said DATE it would reorganize its business and unveiled a flat-rate $MONEY-a-month pricing plan.
The world's biggest online services company said it was taking MONEY in charges DATE as it restructures its operations.
As part of its reorganization, ORG plans to separate into CARDINAL operating units -- ORG, to oversee its flagship Internet online service; ORG, for creating online programming; and ORG, its network arm, the GPE, Va.-based company said.
ORG said it would begin offering a number of new pricing options, including a flat DATE rate of $MONEY for unlimited access. The pricing action, which was widely expected, matches the recent pricing by ORG when it re-launched ORG and the rates of Internet access providers.
As part of its restructuring, ORG named PERSON, former chief exectutive of ORG, to oversee ORG. Pittman, most recently chief executive of ORG, had forged ORG into the ORDINAL profitable basic cable network company.
Pittman also headed ORG Inc.'s CARDINAL Flags amusement park chain, where he oversaw DATE of record growth in attendance, revenues and earnings, ORG said.
The company said it was taking a MONEY charge in DATE, which ended DATE, to account for deferred subscriber acquisition costs, an accounting method for which it has been heavily criticised by Wall Street.
ORG also said it plans to take a CARDINAL-time charge of MONEY in DATE for costs it expects to incur as it reorganizes.
ORG's stock, which recently moved to ORG from the Nasdaq market, jumped MONEY and it was among the most active issues on the ORG, as Wall Street applauded its rejigging of its accounting methods.
""We are moving to remove this distraction from earnings,"" ORG Chairman PERSON told reporters on a conference call. ""The focus here is to simplify how people really look at this business. We are confident that people will see the underlying momentum.""
Analysts do expect some pressure on the company's gross profits as a result of the new pricing, but they said the moves were necessary to compete with the growing pressures from Internet access providers and to keep its subscribers.
ORG expects to report a DATE loss, break-even in DATE and return to profitability in DATE, its DATE.
""It's a very bold, clever and necessary set of moves by GPE Online to get their financial house in order and reposition themselves as a diversified media company,"" said PERSON, a vice president at ORG.
""ORG was for a long time able to ignore the going rate and market vicissitudes because of its pre-eminent position, but those positions only last so long,"" PERSON added.
ORG said the company added CARDINAL net new subscribers in DATE as it began to address some of the customer retention problems it encountered during the traditionally slower DATE.
Case said the company was still on target for reaching its CARDINAL subscribers sometime during calendar DATE.
""The phones have been ringing off the hook DATE from people who are eager to subscribe to the new ORG,"" Case said. ""We now believe we have the strategy in place and a team in place to take ORG to the next level.""
PERSON, who currently heads ORG, was named to head the newly formed ORG, and PERSON, hired DATE to lead ORG, will continue in his current role with that unit.
ORG said its new, more competitive pricing structure would take effect immediately.
The plans calls for CARDINAL unlimited pricing tiers to provide a ""comfort factor"" for heavy and medium users, and a $MONEY plan for light users. ORG said it will offer a standard DATE plan for unlimited ORG use, including Internet access, for $MONEY.
It will also offer advance-payment rates of $MONEY a month for customers who pay for DATE, and $MONEY per month for those who pay in advance for DATE.
The company also said it will charge a ""bring-your-own-access"" rate of $MONEY per month, offering unlimited access to the proprietary content available only on ORG to people who already have a separate Internet access connection.
ORG will also offer a light-usage programme providing TIME of ORG a month for $MONEY, with additional time priced at $MONEY per hour.","ORG will update its strategy for electronic commerce DATE, and will unveil new partners and show examples of projects already in the works.
Electronic commerce is a widely used buzz word in the computer industry which refers to buying and selling goods and services or conducting transactions over computer networks, including the globe-spanning Internet.
For ORG, the world's largest computer maker, electronic commerce is a potentially huge opportunity to provide products and services to help its customers do business online.
An ORG spokesman declined to provide any details, except to say that ORG will provide an update on where it is now and where it is going in electronic commerce.
Top executives from ORG's ORG subsidiary, its Internet division and its just-announced ORG unit will hold a news conference.
Analysts said ORG plans to announce several new partners for various applications it has developed, targeted at specific industries, such as an automotive company which is co-developing an auto-loan application on the Internet.
ORG will also unveil and demonstrate an application targeted at the petroleum industry, a Web site called ORG that will let energy companies share geological information over the Internet to aid in their oil-exploration searches.
Analysts also expect the computer giant to add CARDINAL new retailers to its EVENT, its shopping site on the Internet targeted at consumers.
ORG will also officially roll out its ORG division and possibly some new models of ORG, its ORDINAL network computer, aimed at a specific industries.
DATE, ORG announced that it had formed a unit to focus all its development and marketing efforts in the embryonic market for these scaled-down computer devices.
Analysts said that, while electronic commerce represents a big opportunity for ORG and the rest of the computer industry, the market is still so young that it is hard to estimate what revenues will be, where they will come from and how long it will take for these ventures to be profitable.
""I think ORG is very well poised to make money from all of these things, but it will be DATE before anything happens,"" said PERSON, a ORG analyst.
""The Internet commerce offerings, whether they are services or products, have to be really focused on a specific industry to be complete,"" PERSON added.
Indeed, ORG is developing many industry-specific services, such as its petroleum industry Web service, and the automotive industry application. ORG will also announce a partnership with ORG, the discount brokerage firm that has already been very active in developing online brokerage and trading services.
But it is not yet clear whether ORG will make much money from services and transactions, of which it will get a piece.",1
"The engines have been started in the race to succeed PERSON for the top office at ORG
The company DATE promoted CARDINAL long-time ORG executives into positions that will allow them to prove if they are worthy of occupying CARDINAL or more top spots at GPE's No. CARDINAL automaker.
PERSON, DATE, was promoted to vice chairman from executive vice president, and put in charge of a new auto components organisation with CARDINAL employees and revenues of MONEY.
PERSON, DATE, previously the group vice president in charge of product development, was named to PERSON's old job of heading up ORG, the company's core car and truck business.
Speculation has swirled for DATE about how ORG's board of directors plans to handle the succession of NORP, who currenly holds the titles of chairman, chief executive officer and president. Trotman reaches the mandatory retirement age of CARDINAL in DATE, but the board can ask him to stay on.
Complicating matters is the prospect of a ORG family member returning to a top officer's role for the ORDINAL time since DATE.
Recent reports have said PERSON, DATE, a great-grandson of company founder PERSON, could be named a non-executive chairman, or chairman, when PERSON leaves.
Because PERSON's nearly DATE tenure at ORG has been marred by slumping profits and a slow start for the redesigned PRODUCT, some outsiders have said his chances for higher office have dimmed.
But ORG, a reserved man who joined the company in DATE as a research scientist, has also overseen the launch of the hugely successful new PRODUCT as the new ORG full-size sport utility, which is expected to be both popular and profitable.
PERSON, a retired professor of management at ORG, said ORG's being put in charge of the new parts organisation could turn into a high-profile spot that should not btion.
""It's the CARDINAL thing that PERSON needs under his belt to give him the experience he needs to run the company,"" said PERSON, a long-time Big Three observer.
PERSON has been at ORG PRODUCT as PERSON. Born in GPE but raised in GPE, PERSON first joined the company in DATE as a financial analyst. He rose through several international assignments, earning a reputation as a ""no-nonsense petrol head.""
While Hagenlocker is stiff in front of the media, PERSON moves easily among reporters, entertaining them with colourful stories about cricket and his globe-trotting life abroad.
PERSON, of industry consultant ORG in GPE, GPE, said ORG's new role also offers him a chance to further demonstrate his abilities at running the company.
""It clearly puts PERSON in a position to take over from NORP when he retires,"" said PERSON.
For his part, PERSON was circumspect about the succession question. At a news briefing DATE, he was asked if the board is actively working on the issue.
Trotman responded, ""Absolutely. In depth, and frequently -- and has been for DATE.""","The nation's distillers DATE formally reversed their DATE voluntary ban on broadcast advertising of liquor, saying whiskey and gin should be treated just like beer and wine.
The announcement -- coming DATE after the presidential election and just ahead of DATE -- affirms the decision by ORG in DATE to begin airing TV ads for its ORG and PRODUCT whiskey.
That ad campaign has unleashed criticism from lawmakers, regulators and President PERSON. And the latest decision is sure to rachet up the debate.
""For DATE, beer and wine have been advertised on television and radio while the distilled spirits industry has upheld its own voluntary ban,"" said PERSON, president of ORG (DISCUS).
""The absence of spirits from television and radio has contributed to the mistaken perception that spirits are somehow 'harder' or worse than beer or wine and thus deserving of harsher social, political and legal treatment.""
The reversal of the voluntary ban was adopted in DISCUS's ""code of good practice.""
The announcement drew an immediate rebuke from the chairman of ORG, who has made it clear he is opposed to the practice and has raised the specter of new rules that would bar such advertising.
""This decision is disappointing for parents, and dangerous for our kids,"" said ORG Chairman PERSON, whose agency has begun a probe of the ad campaign.
Consumer advocates also objected. ""DATE's decision by DISCUS to dump its voluntary ban marks the beginning of an open liquor-marketing season on GPE's children and teens,"" said PERSON of ORG in ORG.
He urged President PERSON to renew his appeal to distillers to return to the voluntary ban, and he called on ORG to assist the ORG in its probe.
In ORG, Rep. PERSON has offered legislation to make it illegal to advertise hard liquor on radio or TV.
Broadcasters, meanwhile, criticized the distillers' decision but stopped short of refusing to run liquor ads.
ORG advocated to continue leaving the decision on whether to air the ads to individual TV and radio stations.
""We believe this process has served NORP consumers well, since individual stations make and will continue to make judgments DATE on what is most appropriate for their local audiences,"" said NAB President PERSON.",0
"Electricity stocks crackled higher on DATE as rumours swirled around the market of a GPE buyer for CARDINAL of CARDINAL remaining regional utilities and analysts said the forthcoming results season could provide a spur for action.
""There is going to be a big focus on the ability of these companies to hand out more cash...if the results season is not going to get it going, then nothing will,"" said PERSON, analyst at PERSON.
Electricity sector companies kick off DATE towards DATE.
Leading the sector higher on DATE was ORG, after a report in the ORG newspaper that a bid might emerge from ORG GPE at MONEY a share.
GPE, tipped to buy CARDINAL of the CARDINAL remaining regional electricity companies (NORP) DATE, had been thought to have given up on the idea in DATE when it bought GPE gas utility ORG for MONEY.
NORP shot up to a high of MONEY but eased back to close at CARDINAL, up MONEY.
""At the time of its last results, the company effectively indicated its surprise that it hadn't been taken over. Their shares had fallen back a long way and perhaps it's no surprise that bid rumours are re-emerging,"" Perry said.
Other power utilities which remain independent also climbed, with PERSON up MONEY to MONEY and ORG adding MONEY to MONEY.
ORG, which survived a takeover bid from ORG DATE, was up MONEY to MONEY and ORG, which supplies the capital with power, jumped MONEY to MONEY.
""WORK_OF_ART is the one most likely to face a bid, it is smaller than others and more purely a distribution company,"" PERSON at brokers ORG said.
A report in the ORG newspaper also suggested that GPE utility ORG might be circling the sector but no comment was available from either GPE company.
Analysts said GPE companies might not be the only ones interested in the sector, which has seen CARDINAL of the CARDINAL NORP created at privatisation in DATE fall prey to takeover bids.
The domestic supply business is to be opened to competition in DATE and a range of companies from oil producers to supermarkets have already indicated an interest.
Other potential interest could come from water companies, analysts said, especially following GPE's decision on DATE to block planned bids for LOC from Severn Trent and Wessex Water.
""You've got CARDINAL disappointed companies there,"" said ORG.
Analysts said ORG could decide to use its resources to make a share buyback or a special dividend payout.
But ORG may be enticed to link up with ORG, analysts said, as multi-utilities have been approved.
PERSON took over PERSON to form Hyder while ORG combined ORG.
""The idea of multi-utilities is gaining ground,"" Whiting said.","NORP life assurance group ORG on DATE announced plans to shed its DATE mutual status in preparation for a MONEY (MONEY) flotation on the GPE stock market in DATE time.
The group, based in GPE, GPE, said it is to use capital raised by the CARDINAL-stage proposals to take advantage of opportunities for growth and increase its share of the life and pensions market.
Policyholders are to receive an initial special bonus totalling QUANTITY after demutualising on DATE, based on the length of time policies have been held.
At the top end of the scale, an individual with a DATE policy maturing DATE will receive QUANTITY.
On flotation another, larger payout - expected to amount to MONEY but possibly ""substantially higher"" - will be made.
The move to seek a flotation is the ORDINAL by a NORP life group, following plans announced DATE by ORG.
PERSON had been rumoured to be a takeover candidate but chairman PERSON said the group intended to hold on to its independence.
""Our plans do not include being gobbled up by anybody,"" PERSON told a news briefing.
Industry analysts said DATE's move would make any takeover ""The policyholders are likely to get more by hanging on in there and having an interest in the future than a straight sale now,"" said CARDINAL.
NORP amicable said it believed the market was entering a growth phase and that it was well positioned to take advantage of an upturn but needed capital and a more flexible structure to take advantage of the opportunities.
The period before flotation is intended to allow it to develop the business and necessary profit-focused corporate culture.
Managing Director PERSON said that there remained value to be realised in the group and that an immediate flotation would have failed to reflect the true value of the business and sold policyholders short.
Industry analysts described the proposals as a good compromise between raising some capital in the near term but not selling out too cheap.
Under the proposals, the business, staff and operations of the group are to be transferred to a new company, ORG, a PERCENT owned subsidiary of the newly formed ORG.
PERSON, is to become group chief executive of a new holding company ORG. PERSON, deputy managing director, will become chief executive of ORG.
The ORDINAL stage of the group's plans involves a deal with reinsurance giant NORP Re and its affiliate LOC to provide an injection of cash of CARDINAL poounds.
Scottish Amicable's existing with-profit fund will receive an immediate cash contribution of MONEY while ORG will invest QUANTITY 45 million pounds in return for PERCENT of a new business fund being set up to transact all new business leading up to flotation.
The plans have to be approved by CARDINAL of policyholders who vote and a special general meeting is expected to be held in DATE.
($MONEY Pound)",0
"ORG (AHK) chief operating officer, PERSON said the DATE start of its ORDINAL LOC service means the airline is now firmly headed in the right direction.
The head of GPE only all-cargo airline told ORG in an interview said it was ""an important milestone towards a much brighter future.""
However NORP said the cargo carrier did not make any money in DATE suffering, like many others, from low yields.
DATE ORG made its ORDINAL ever profit and although NORP would not disclose the exact amount, he said it was ""very healthy"" after ""huge losses"" in the past.
DATE, things were so bad that the airline was just a telephone call away from going under, industry sources said.
But then a new management team was installed, ORG came to the rescue by taking a PERCENT stake, loss-making routes were cut, old aircraft were retired and CARDINAL newly converted ORG PRODUCT acquired, NORP added.
The new aircraft are able to carry QUANTITY more tonnes than the carrier's old aircraft and complete with a new NORP wheel company logo signifying brisk business, they began a twice DATE service to GPE on DATE.
When ORG ORDINAL converted PRODUCT leased from ORG for DATE joins the fleet in DATE, the GPE service will become CARDINAL times DATE.
NORP says the new route has been possible with the leasing of the CARDINAL former combi 747s which formerly flew with the NORP airline PERSON.
The aircraft, converted at ORG facilities in GPE, GPE and at GPE Aero Engine Services Ltd, will give AHK a much higher aircraft utilisation rate from TIME per day.
AHK existing fleet of older 747s are being returned to the leasing company.
""We're talking about more expensive aeroplanes but they're more reliable, with better payload and can help save on maintenance so it's a good investment for this company.""Hui said.
ORG has handed its once DATE GPE service over to AHK in order to concentrate on its own new twice DATE freighter service to GPE which also started on DATE.
The new GPE services have been made possible after a new air agreement was drawn up between the GPE and GPE government.
AHK also fly to GPE, GPE and LAW times a week and twice DATE to GPE. It has applied for a twice DATE service to GPE in GPE on DATE.
NORP said there has been a MONEY drop in cargo selling rates over DATE.
""But I'm not surprised, the market is very competive, very seasonal and slow in DATE. We have seen a slower market DATE consequently rates have dropped, tonnage is down, rates and yields are down but I think we are seeing a nice recovery. Developing for us and GPE will help that. It is a very important gateway for us,"" NORP said.
--Air Cargo Newsroom Tel+44-171-542-7706 Fax+44-171-542-5017","A CARDINAL-stage privatisation GPE's ORG electronics group would allow an early sale of its defence arm and make better economic sense than packaging defence with the loss-making consumer goods unit, stock market analysts said on DATE.
Conservative Prime Minister PERSON said in an interview in ORG on DATE that the military electronics subsidiary ORG could be separated from ORG to allow for a speedy privatisation.
The government was forced DATE to drop its preferred choice of selling the whole ORG group to the ORG conglomerate for MONEY after the independent ORG rejected that option.
A break-up of ORG runs directly against President PERSON's initial policy announced on DATE on restructuring the NORP defence industry and selling ORG as CARDINAL unit.
But analysts said the CARDINAL-part sale made good sense.
""We should have started with that...get on immediately with restructuring the defence industry,"" said an analyst at a NORP brokerage. ""We can leave ORG (TMM) until DATE.""
A ORDINAL analyst said, ""It's the privatisation of the ORG unit which poses the problem. The industrial logic of the merger between ORG and ORG has not been criticised by anyone.""
It was ORG's plan to sell TMM to GPE ORG, while keeping ORG, which led ORG to rule out its bid. The ORG objected to planned technology transfers to ORG and the lack of binding commitments by ORG to retain jobs in GPE.
PERSON separately would meet the state's main aim of creating a defence electronics national champion, and shelve the problems of ORG. ORG is profitable, virtually clean of debt and PERCENT of the capital is quoted on the GPE bourse.
A source close to ORG said the firm has not lost any contracts due to the privatisation uncertainty but it has had to run a corporate advertising campaing in countries where it feels its image has suffered.
Lagardere's PRODUCT missile company still looks the favoured candidate for taking over ORG's defence unit ahead of a rival offer from engineering group ORG.
""We get the impression that the government wants Lagardere to get ORG,"" said CARDINAL analyst at a brokerage.
An analyst at a NORP bank said, ""Insofar as the government has made its preference known and is sticking by it, Lagardere seems to be well placed.""
Lagardere has the means to buy ORG, without recourse to significant borrowing, CARDINAL analyst said.
Taking a range of ORG share price of CARDINAL per share, the company has a market capitalisation of CARDINAL (MONEY), he said.
At DATE had MONEY in tradeable securities, CARDINAL in free cash and is due to receive CARDINAL in DATE when share warrants are due to be exercised. Financial debt was around 8.4 billion.
Lagardere would bring MONEY of ORG's assets in merging with ORG, which would reduce the cash it would have to pay. It would however be expected to pay large amounts for goodwill.
Speculation that a vertical integration of missiles, electronics and airframe makers could now be tackled by merging ORG, ORG, ORG and PERSON did not stand up to scrutiny, analysts said.
ORG plane maker ORG is expected to be absorbed by the larger, civilian-aircraft manufacturer ORG as part of the defence industry consolidation. But as ORG is state-owned and the government still wants to privatise PERSON, that course seemed to be excluded, an industry executive said.
Economy ministry officials were not immediately available for comment. ($MONEY NORP Franc)",0
"The federal government's bid to pry open the phone business has hit a snag that could postpone the onset of full-blown competition in the local and long-distance markets and delay cheaper phone service.
The snag came when a federal appeals court DATE suspended, or stayed, key parts of a ORG rule opening local phone monopolies to competition from long-distance carriers, cable TV operators and others.
Experts said the action could postpone competition in the MONEY local phone market now controlled by the regional PRODUCT phone companies, until the case makes its way through the courts in DATE. A final decision could easily take DATE or more.
""We're in for DATE, and the dust won't settle until fairly deep into DATE,"" said PERSON, a former top telecommunications official in ORG.
That, in turn, could delay the ORG entrance into the MONEY long-distance market. The telecommunications law enacted in DATE lets the ORG offer long-distance only after they have opened their own markets to new rivals.
Even before the appeals court acted, government officials suggested a prolonged delay of the ORG's rules would make it tougher for regulators to allow the ORG to enter the long-distance business.
The ORG -- along with ORG and state regulators -- has the final say over whether the ORG have satisfied a CARDINAL-point ""checklist"" that includes provisions of the now-suspended ORG rule.
""If the stay chills investment and retards new entry into the local marketplace, it may become more difficult for the (ORG) to authorise the ORG companies to offer long-distance (service),"" ORG Commissioner PERSON said in a speech TIME before the appeals court order.
And she noted that ORG -- whose views ""must be accorded 'substantial weight'"" by the ORG -- already has signalled it will be reluctant to support ORG entry as long as as the key parts of the ORG's proposed rules are on ice.
PERSON, deputy assistant attorney general in the department's antitrust division, said DATE a stay would ""seriously impair"" the ORG entry process spelled out in the telecommunications law.
Any delays could delay the benefits of competition that ORG and President PERSON promised when enacting the law.
""The sooner there is competition in the local market, the consumer will benefit. And that's for sure when the PERSON are allowed to go into long distance,"" said ORG.
""That will result in marketing and price wars. And the consumer again will greatly benefit.""
But PERSON stocks rallied after the ruling because state regulators were likely to call for lower discounts when the companies lease their phone lines to new competitors, analysts said.
ORG, the nation's largest local phone company -- which has spearheaded the legal challenge to the ORG rules -- jumped MONEY to $MONEY on ORG.
ORG added MONEYMONEY, ORG gained $MONEY to $MONEY, ORG rose $MONEY to $MONEY, ORG was up $MONEY to $MONEY and ORG rose MONEYMONEY, all on the ORG.
The appeals court suspended the ORG rule until the judges consider a challenge to the measure DATE by ORG, the ORG, other local carriers and state regulators.
They argue the ORG overstepped its power by requiring the PERSON and local carriers to lease their phone lines to new competitors at steep discounts of PERCENT.
The court's action, for now, puts back in the hands of state regulators the responsibility to set such prices.
But local phone company officials discount the chance that competition will be delayed.
""WORK_OF_ART of 1996 passed by ORG in DATE is the law of the land and sets forth a timetable for the introduction of competition,"" said ORG Senior Vice President PERSON. He said that timetable is ""unaffected"" by the court's action and will proceed.","Federal and state regulators raced DATE to finalize a multi-billion dollar proposal to ensure all NORP get quality and affordable phone service and that schools and libraries can hook up to the GPE.
An CARDINAL-member board of state regulators and members of ORG is trying to figure out the size of a federal fund to subsidize ""universal"" service.
Estimates range anywhere from MONEY a year. It could influence what consumers and businesses pay for their phone bills.
""Depending on how big the dollar figures are and what the recovery mechanism is, consumers may have something at stake,"" said PERSON of ORG.
The panel, established by the new telecommunications law, is scheduled to unveil its plans DATE. Several issues are at stake, some of which were unresolved at TIME.
""All the issues are still being discussed,"" said a state official requesting anonymity. ""There will be sections where we need further clarification on issues.""
Regulators must determine how local and long-distance companies, cable-TV operators, and other telecommunications carriers foot the bill to ensure that residents of secluded rural communities and poor inner-city areas get quality, affordable phone service.
They must spell out how the nation's schools and libraries will get hooked up to the Internet and at what cost.
And regulators must determine what roles the states and federal government will play in overseeing universal service.
The board must issue its recommendations to the ORG by DATE. The agency must then issue final rules by early May.
The nation's CARDINAL of local phone companies now provide universal service. It is funded in part via ""access"" charges that long-distance carriers such as ORG pay to hook up to the local phone network.
In DATE, local companies took in MONEY in interstate access charges. The CARDINAL regional PERSON received MONEY of that amount. Long-distance companies want those charges slashed.
Following are the issues the joint board is grappling with:
-- The extent to which schools and libraries should be hooked up to the Internet at discounted rates.
President PERSON has proposed giving these institutions free basic service, with the nation's communications carriers paying the tab. Members of the joint board disagree on whether every school, or every classroom, should be wired.
There also is disagreement over what discounts schools and libraries should receive.
-- The type of funding mechanism that would be used to pay for universal service. The telecom law requires that companies offering interstate phone service -- or virtually all carriers -- must foot the bill for universal service in an ""equitable and non-discriminatory"" manner.
A national fund will be established to pay for universal service. State regulators want the ability to establish and oversee their own funds as well. Those funds would be backed by intrastate phone revenues.
-- How to ensure phone service to low-income consumers. Poor NORP currently receive subsidized service through CARDINAL plans, ""WORK_OF_ART"" and ""WORK_OF_ART."" Both are expected to be retained, expanded and improved.
-- How to determine the cost of subsidies for companies that offer phone service in high-cost, out-of-the-way areas such as rural communities.
The joint board has been examining whether to calculate such costs based on existing costs of providing such service, or a new model spelling out different ""proxy"" prices that would be used as a reference by regulators. The proxy prices would influence how much subsidies carriers would receive.",1
"NORP pay television operator BSkyB said on DATE that it was considering further investment in GPE and would beam its ORDINAL pay-per-view sports event into GPE DATE.
The satellite broadcaster said pre-tax profit had risen by PERCENT to MONEY (MONEY) in DATE.
The company, in which PERSON ORG is the leading shareholder, said that total paying subscribers had reached CARDINAL at DATE, a net increase for DATE.
""The company has performed strongly in DATE and has achieved significant growth in both revenue and profits,"" said BSkyB chief executive PERSON.
""Our increased investment in all areas of programming and the quality and choice we offer our subscribers will maintain our impetus,"" he added.
Operating revenues for DATE increased to MONEY, a rise of PERCENT on DATE. Earnings per share were MONEY, PERCENT up.
BSkyB shares rose CARDINAL to CARDINAL although analysts said the subscriber growth figures were ""unexciting"" and the profits in line with expectations.
BSkyB said in DATE that it would take a stake of PERCENT in GPE, the NORP digital television venture launched by NORP media mogul PERSON. BSkyB said on DATE it was considering investments in additional NORP Pay TV channels.
DF1 has made a slow start but the NORP pay television market is expected to expand rapidly in DATE.
BSkyB said it would show its ORDINAL pay-per-view event on DATE when PERSON and PERSON meet in GPE for the GPE heavyweight boxing crown.
BSkyB successfully experimented with pay-per-view when Tyson fought PERSON in DATE. CARDINAL homes paid QUANTITY to see that fight.
BSkyB has said it plans to introduce digital satellite broadcasting into GPE DATE. Pay-per-view sports events and movies are likely to be one of the prime sources of income from the extra channels provided by digital.
Niche channels PERSON and ORG were launched on DATE, bringing the total number of channels available on ORG to over DATE.
However, DATE's planned launch of ORG was postponed at TIME on DATE TIME.
ORG -- a mixture of PERSON cartoons and vintage movies -- was apparently a victim of the legal battle being fought in GPE between PERSON and the combined might of ORG founder PERSON and ORG.
That clash of the titans centres on whether ORG, the ORDINAL largest GPE cable operator, will carry ORG TIME ORG in GPE. ORG is a major rival to ORG, now part of ORG following a recent merger. ($MONEY Pound)","ORG (CNB) Governor PERSON said that despite objections from some cabinet officials, it was too early to write off the central bank's plan to create ORG largest bank.
Tosovsky said he expected the full cabinet to consider ""in DATE"" the ORG's plan which includes the proposed merger of the savings bank ORG GPE a.s. with the foreign trade bank  ORG PERSON. (ORG).
""There are only some preliminary opinions of some official who saw our proposal. Because most of the members of the cabinet didn't see our proposal, so it's too early,"" he told ORG in an interview to be broadcast later.
""I don't know what will be the decision of the government.""
The central bank has submitted a broad plan seeking to fully privatise state holdings in EVENT"" largest banks, but Prime Minister PERSON said DATE the cabinet needed more concrete details.
The most controversial plan calls for GPE and ORG to merge to create a bank with over MONEY in assets and then to privatise the state's stake in the newly-created bank DATE after the merger is analysed.
Klaus has reacted coolly to the merger plan, saying it was akin to fusing GPE's top CARDINAL soccer teams GPE and GPE, something unthinkable for many Czechs.
The plan has also been criticised by a key ORG adviser, PERSON, and by officials at both institutions who said they want to preserve the specific character of each bank.
But the central bank's plan, which PERSON said is from the point of view of a regulator to promote stability of the entire banking system, seeks to create a bank which would compete better against large western NORP institutions.
""We feel that it would be possible to find some closer ties between ORG and (GPE), and we see a merger could be made,"" PERSON said, but added that ""it would require more professional analysis.""
Tosovsky said that if the merger plan was not adopted then a strategic foreign partner ""would be welcome in GPE -- this means the fast privatisation with a foreign strategic partner, but this is only if the idea about the merger is not accepted.""
A variety of NORP and GPE state institutions, including the central banks, hold ORG shares. PERSON has had some stakes privatised through the voucher-privatisation programme, but the state still holds a PERCENT stake.
The CNB and ORG have both called for the fast privatisation of the state's CARDINAL stake in GPE PERSON to a strategic foreign partner. GPE's ORG and ORG are widely seen as frontrunners seeking ORG shares.
Tosovsky said the PERCENT stake in the largest commercial bank, PERSON a.s. should be divided into smaller units and sold to a variety of investors, not a single foreign strategic partner.
""As concerns PERSON, there is no rush as concerns the privatisation but no reason to delay as well,"" he said.
""(PERSON), in our opinion, doesn't need a foreign strategic partner, and there could be small stakes and more investors could be invited to enter into the this bank.""
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"GPE's domestic A shares continued to plummet on DATE with investor confidence still in tatters following the rude shock of a government crackdown on the markets on DATE, traders said.
GPE's foreign currency B share index ended little changed at CARDINAL points with bargain-hunting support prices, but A shares on the market fell PERCENT to CARDINAL.
On the GPE stock market next to GPE, the A share index plunged PERCENT to CARDINAL points, while the B shares were also down sharply, losing PERCENT to CARDINAL points.
""A growing number of investors want to leave the A and B markets, at least for a while,"" a GPE trader said.
Brokers said ORG shares plunged on unstable market sentiment and reported seeing some panic selling on rumours that more negative market news could be announced at DATE.
""Retail investors used the opportunity of a technical rebound on DATE to offset their positions,"" said CARDINAL broker. ""Sentiment is still weak.""
The GPE B share market is looking the healthiest of the GPE share markets in the wake of the crackdown in which the GPE authorities said stock trading was overheated and warned of a crash if speculative trading was not stopped.
""Technical charts show the B share index is likely to consolidate CARDINAL points in the short term with investors targeting stocks with strong profits records,"" a ORDINAL broker said.
Inner Mongolia Erdos Cashmere was the star on expectation of good results, rising $MONEY or PERCENT to $MONEY, on volume of CARDINAL shares.
ORGamp; GPE followed on institutional buying, up $MONEY or PERCENT to $MONEY, on volume of CARDINAL shares.
In GPE, brokers said the market was hit by institutions taking profits on the B share market with investors still jittery over GPE's crackdown.
""Investors offset their positions whenever prices rose because they have little confidence in the market's short-term outlook after the falls DATE,"" an analyst said.
Many GPE B shares closed at the PERCENT limit-down with PERSON falling HK$0.36 to HK$3.20 on volume of CARDINAL shares on institutional selling, brokers said.
Changan Automobile traded the most on volume of CARDINAL shares, losing HK$0.20 to HK$3.55.
The A market plummeted with the majority of A shares closing at the PERCENT limit-down due to heavy selling in ""rubbish stocks"" -- shares of smaller firms with poor business results over DATE, brokers said.
CARDINAL GPE broker predicted that the A shares could have a long way further to fall given their strong gains in DATE.
But several GPE counters with strong earnings records were seen being supported by institutional demand, brokers said.
ORG A shares rose MONEY or PERCENT to MONEY, with its B shares up HK$0.35 or PERCENT to HK$5.85 per share, making them the best performers on the city's A and B share markets on DATE.","GPE's zinc industry is fast succumbing to the rigours of reform, as mines and smelters find that surviving without government grace is difficult and the ways of the world are tough, LOC traders said on DATE.
Withdrawal of government subsidies, combined with tight credit, expensive infrastructure and utilties, and over-manned mines and smelters mean the industry is struggling to compete.
NORP zinc exports have slowed as NORP sellers are unwilling to lower their prices to world levels, traders said.
""The NORP are asking high premiums -- ORG (ORG) plus US$MONEY to GPE and GPE,"" one said.
DATE ORG zinc was quoted at $MONEY a tonne in early trade on DATE up slightly from DATE's $MONEY close.
Many NORP customers bought zinc heavily in DATE and still have stock to consume before they look to GPE, a GPE trader said.
Nor is GPE importing much zinc, as a PERCENT import duty and a value-added tax of PERCENT made it too expensive for cash-starved smelters, traders said.
DATE customs figures show GPE's exports of unwrought zinc and zinc alloys dropped to QUANTITY in DATE, down PERCENT on DATE period.
The DATE export figure of QUANTITY was down PERCENT on the corresponding period in DATE.
An executive with an NORP firm said the problems faced by the NORP industry would take a long time to resolve.
Expansions planned DATE had not been costed on world terms, he said, but on the local supply of raw materials that were sold at a set price.
So when mine depletion and rising demand became evident and forced GPE to look outside for raw materials, ""they found it was very expensive, much more expensive than they expected.""
As GPE's economy has grown at PERCENT a year, zinc consumption is maintaining a growth rate of PERCENT, ORG (ORG) said in a report.
Zinc output has risen faster than consumption and enabled GPE to become a net exporter of QUANTITY of slab in DATE -- after being an importer DATE of QUANTITY, PERSON figures show.
U.K.-based ORG put GPE's DATE mine output at QUANTITY of zinc.
GPE's influence on the world market is expected to continue, despite reduced exports, an analyst at ORG in GPE said in DATE.
GPE's refined zinc exports in DATE totalled QUANTITY, compared with QUANTITY in DATE, the analyst, PERSON said. GPE brokers T ORGamp; Co put GPE's average yearly exports in DATE at QUANTITY.
The NORP government is gradually withdrawing subsidies to mines and smelters in line with requirements for membership of ORG (ORG), trading sources said.
""The zinc price is down, but the NORP are getting a double whammy with subsidies disappearing,"" the NORP source said.
""They can't lay people off, but they have to make money -- so what can they do?"" he said.
""The real issue is that the smelters have to become competitive, and this means redundancies... So even though they are free to run the smelters as free enterprises, it would be a brave man to be the ORDINAL to stick his hand up and say he is going to lay off CARDINAL workers.""
Capacity in GPE will remain under-utilised, while expansion elsewhere will further pressure the industry.
""The NORP will have to compete, and their competitors will be leaner and meaner,"" the NORP source said.",0
"GPE on DATE slammed GPE for failing to crack down on a new opposition party seeking independence for the island and warned that separatism was ""a road to death"".
""Not only do the GPE authorities fail to ban the formation of ORG, but they also tolerate it,"" a spokesman for ORG under ORG, or cabinet, said.
""The self-proclaimed anti-independence stand of the GPE authorities is a double-faced practice that deceives others as well as themselves,"" the official ORG quoted the spokesman as saying.
GPE has regarded GPE as a rebel province since PERSON ORG defeated and drove PERSON NORP troops into exile in GPE at the end of EVENT in DATE.
A group of NORP activists plan to break away from GPE's main opposition party and form ORG on DATE.
GPE has threatened to invade if GPE declared independence. GPE conducted missile tests and war games off GPE DATE in the run-up to the island's ORDINAL direct presidential elections to cow GPE into abandoning any dreams of independence.
""GPE independence is a road to death that cannot be walked because it is blocked,"" the spokesman said.
The spokesman described the party as a ""reactional political organisation"" with the explicit purpose of splitting the motherland.
""The GPE authorities should adopt realistic anti-independence action as soon as possible. Compatriots on the CARDINAL sides are waiting to see,"" the spokesman said.
""The NORP government and the NORP people will definitely not sit back idly and do nothing about it,"" the spokesman warned.
""Their scheme will never succeed,"" he said of the new party's drive for independence.
GPE says it is committed to reunification, but stresses that this cannot be achieved overnight and says GPE must democratise.
GPE's criticism came DATE after NORP President PERSON blamed GPE for deadlocked relations between the CARDINAL.
Referring to the NORP authorities, PERSON said in a speech on DATE: ""They adopted a hegemonic attitude and stubborn policy toward GPE, singlehandedly blocked the development of history and caused the stalemate of crossLOC relations.""
The island maintains an official policy of anti-independence, but has decriminalised advocacy of independence, saying such calls are within the bounds of freedom of speech.
Ties between GPE and GPE, which began to thaw in DATE, took an icy plunge after a landmark, private visit by PERSON to GPE in DATE.
GPE, which has sought to push GPE into diplomatic isolation, saw the trip as a bid to raise the island's international profile.
GPE has stepped up its reunification overture in DATE, calling for political talks to end DATE of hostility.
GPE unilaterally introduced a series of regulations DATE to pave the way for direct shipping links with GPE.
GPE has banned direct air and shipping links with GPE since DATE, but allows indirect links through GPE or ORDINAL countries. GPE is reluctant to lift the ban lest the island become an economic hostage to GPE.","GPE on DATE accused foreign journalists of biased reporting and urged them to learn from PERSON, a GPE reporter and author sympathetic to the NORP communist cause.
Reporters from Western nations had misjudged GPE based on standards that did not apply to countries with different social and political systems, said a commentary in the official ORG.
""It is common sense that news reporting...should serve the purpose of offering adequate information to the audience to help them form correct judgments on world affairs,"" the commentary said.
The commentary urged NORP media to emulate PERSON whose reports from GPE in the DATE painted a sympathetic portrait of PERSON and his struggling communist crusade.
The newspaper praised PERSON for his accuracy, objectivity and impartiality in his coverage of GPE as it was swept up in the communist movement.
""In his reportage, PERSON wrote exactly what he witnessed,"" it said. ""What the NORP media are doing is the opposite of what PERSON did DATE.""
Most Western reporters were barred from GPE after the communists seized power in DATE but PERSON's personal contacts with Chairman PERSON allowed him to roam much of the country unhindered.
His reports praised ORG for its sweeping reforms and later denied rumours of widespread famine in DATE.
Historians now estimate CARDINAL people died as a result of famines after PERSON launched the Great Leap Forward, urging farmers to abandon their fields and join the rush to make steel in backyard furnaces.
The commentary blasted the NORP media for spreading the theory that GPE was a threat to the world while ignoring what it said were GPE's rising military ambitions.
Foreign journalists are viewed by many NORP as spies and most come under police surveillance during their stay in GPE. Many foreign reporters have been expelled since DATE.
Western journalism focused mostly on negative issues such as crime, disease and political turmoil, it said.
""It has been a general practice of the NORP media to look everywhere for the seamy side of society,"" it said.
ORG chief PERSON DATE sternly told the NORP media to toe the party line and propaganda boss PERSON DATE called on the media to report more positive news.
""CARDINAL may ask why there have been so many disappointing reports by NORP journalists,"" the commentary said.
""CARDINAL clue lies in the fact that those journalists do not know what is really going on in GPE,"" it said.",0
"ORG chief executive PERSON talked DATE with the principals of ORG and PERSON -- who have bought an PERCENT stake for MONEY in the manufacturer of boats and boat engines.
""It was really just a get-acquainted call,"" said PERSON, spokesman for ORG, or ORG.
If PERSON, Ill.-based ORG is anything like some other companies that ORG has invested in, PERSON may soon get to know PERSON and PERSON very well indeed.  
Former associates of PERSON, the CARDINAL GPE financiers specialize in buying shares in companies that are struggling, then pressuring managements for changes.
OMC does not know ORG's intentions, ORG said. He added, ""All you can look at is their track record.""
Known as a highly active shareholder, Greenway has sought a CARDINAL-way break-up of ORG, the spin-off by ORG of its profitable NORP division, and helped cause the DATE sale of ORG
""We're not bashful,"" PERSON said in an interview, confirming that he has had one chat with OMC.  
The topic of discussion on the call was ""the company and its operations,"" PERSON said. He added, ""We might have more conversations with them.""
Of particular interest, ORG said, is ORG's new FICHT fuel injection technology, which the company said can reduce hydrocarbon emissions of CARDINAL-stroke engines by PERCENT.
""It's true that for emissions standards, they have to do something. But I think that they've got an interesting engine here with other applications, in addition to the outboard motor area,"" PERSON said.  
Asked if Greenway was happy with ORG's financial performance, ORG said, ""The company's probably not satisfied with their performance.""
OMC has made that quite clear in DATE and is taking steps to fix the situation, ORG said. ""There is a plan being developed,"" he said.
Investors have been waiting for improvements at ORG, but are beginning to lose patience, said ORG analyst PERSON. ""It's likely Greenway's effect will be to bring more focus on management,"" she said.  
ORG makes PRODUCT and PERSON outboard motors, as well as ORG and CARDINAL Winns boats. The company posted a loss in its DATE of $MONEY per share, compared to a profit of $MONEY per share DATE. DATE revenues were MONEY, down from MONEY DATE.
Shares in the company were up CARDINAL to CARDINAL DATE after the ORG stake was announced in a filing with ORG. DATE, ORG shares traded in DATE.
ORG said ORG is pursuing other markets for the FICHT system. ""We are talking with people who make personal watercraft engines or motorcycle engines,"" he said.
In addition, he said ORG is taking cost-cutting steps. ""We are looking very hard at our corporate overhead costs and expect some dramatic cost savings there,"" he said.
For example, ORG may consolidate administrative functions for its boat companies from CARDINAL locations to CARDINAL in GPE, GPE, ORG said.
ORG PERSON  CARDINAL-408-8787","ORG does not expect the federal government to implement new guidelines for certain key ORG reimbursement rates until DATE, postponing until then any likely damage to the health care services concern's profitability.
""It's a government reimbursement change which is forthcoming. It will definitely pressure our earinings, there's no doubt about it,"" chief financial officer PERSON said in an interview.  
Like other companies that provide rehabilitation services to patients mostly in nursing homes, PERSON has been waiting for DATE for action from GPE on the reimbursement issue.
The company's stock has been depressed during that time by a market unjustifiably focused on CARDINAL issue, ORG said following a presentation to investors at a Robinson-Humphrey conference here on DATE.
""At this point, I'd rather have bad news on salary equivalency than what we have now, which is no news,"" ORG said, referring to the issue.  
Public since DATE, GPE, Ga.-based ORG operates CARDINAL nursing homes and provides rehabilitation services on contract to CARDINAL of other nursing homes companies. The firm also runs several occupational health clinics.
The rehabilitation division provides PERCENT of revenues and offers CARDINAL main forms of therapy: speech, occupational and physical.  
Most revenues in the rehabilitation area come from ORG, the federal healthcare program for the elderly. ORG, which oversees ORG, has been rewriting its reimbursement rules for speech, occupational and physical therapy since DATE.
If GPE proceeds with its latest set of reforms, ORG could see DATE earnings come in flat to down compared to this DATE's level, ORG said.
Much remains to be determined, however, he said. Moreover, despite market concerns, the potential earnings hit from the changes is not large enough to hurt ORG seriously, he said.  
""There's no real threat. It's a CARDINAL-time pricing issue.... The market has no clue on this,"" ORG said.
TheraTx on DATE reported DATE profits of $MONEY per share, up from $MONEY per share DATE. The First Call consensus earnings forecast for DATE was $MONEY per share.
""The general performance of the company is on track. Whether (DATE per-share net) is $MONEY or $MONEY is not for me to say...but I would guess that analysts are probably going to revise their estimates downward because DATE was a couple pennies below the consensus,"" ORG said.
The First Call DATE earnings estimate range is $MONEY per share.
ORG shares closed DATE up CARDINAL at CARDINAL.",1
"NORP Prime Minister PERSON announced a state commission on DATE to attack bureaucracy in the land of PERSON.
It will have a steering committee, a chairman, CARDINAL vice-chairmen, CARDINAL sections, CARDINAL sub-commissions and more members than ORG's cabinet.
But ORG denied suggestions that the new ""WORK_OF_ART"" would pour fuel on to the fire, telling a news conference that the only bureaucrat working at the commission would be a secretary.
The other staff, numbering around CARDINAL, would perform their duties part time, said ORG, whose cabinet has CARDINAL members.
The NORP bureaucracy, crafted by the LOC-Hungarian empire and perfected under communism, inflicts DATE misery on local and foreign residents alike.
PERSON, the GPE novellist of DATE, wrote of angst born of bureaucracy in such works as ""WORK_OF_ART"" and ""WORK_OF_ART"".
Things DATE do not seem much better. Applications for documents such as company registrations, licences and work permits can take DATE or DATE to process.
They can involve repeated visits to offices where citizens have to queue patiently sometimes for hours waiting to be summoned by often surly bureaucrats. Knocking on office doors for attention is strictly forbidden.
ORG said the commission should aim to simplify issues like setting up a business, getting construction permits or social benefits, or dealing with tax offices.
Chairman PERSON, a former transport minister, indicated he was confident his commission would not gain the NORP bureaucrat's reputation for idleness.
""I believe that we will be able to find people for each section who would be ready to work,"" he said.","NORP President PERSON on DATE called the opposition NORP leader ""extremely irresponsible"" for claiming the secret service was being used for party politics.
ORG's remarks came as campaigning for closely-fought ORG elections due DATE turned increasingly bitter, with the secret service in the middle.
Earlier Prime Minister PERSON accused ORG NORP leader PERSON of lying when he made a thinly-veiled allegation that the ORG intelligence agency had tried to extract compromising material from his elderly mother.
The slanging match between the CARDINAL leading antagonists of NORP politics began on DATE when ORG director PERSON, a ORG protege, was forced to quit over allegations of spying on a deputy premier and a subsequent coverup.
""DATE's comments by ORG on a police state, or on the ORG as a political police in the service of CARDINAL party, are a visible result of losing his nerve before the elections,"" ORG told a news conference on DATE.
""I can imagine such words being said by a radical anarchist but I can't imagine them from CARDINAL of the CARDINAL highest constitutional officials of this country.""
On DATE Zeman, who is lower house speaker, accused ORG of playing dirty before the ORG elections, where the NORP have been running level with ORG's ruling ORG (ODS) in most opinion polls.
""During DATE an operational group has existed within the ORG which has been responsible for shadowing several NORP politicians,"" said ORG.
Havel, who is politically neutral, said after talks with ORG Minister PERSON:  ""I can only say that I consider (ORG's) statements to be extremely irresponsible.""
""As chairman of the parliament he should know that it is necessary to proceed in the proper ways,"" ORG said at his private residence in the Hradecek region of east ORG.
He said ORG should have ORDINAL brought the charges to a parliamentary commission overseeing the intelligence services before making them public.
But the president added that he would meet ORG, who promised to produce evidence backing the claims DATE.
Havel, imprisoned on several occasions as a political dissident under communism, said he ""could not be the head of a state which would create a system for spying on its politicians"".
He said rogue individuals or groups within the ORG might attempt such actions, but without the approval of superiors.
Spymaster Devaty quit after Deputy Prime Minister PERSON, who leads the NORP NORP, junior partners in ORG's coalition, accused the ORG of spying on him DATE and then covering up the operation.
Allegations of politically-inspired spying have surfaced in DATE in a country where memories of the pervasive state security apparatus during DATE of communism still linger.
ORG said the agent had been spying not on Lux, but on his former adviser, director of a bank which collapsed amid fraud allegations in DATE. He has not explained why the security service was investigating an apparent fraud case.",1
"ORG said DATE it found problems in its bookkeeping that caused it to overstate earnings by MONEY over DATE and that its chief accountant had apparently disappeared.
The ORG, Ill.-based finance company said the irregularities appear to have come from unauthorized entries in financial records by its chief accounting officer.
The company said a special committee of the board has been formed to investigate with legal and accounting experts.
The accountant, PERSON, was last seen at the company on DATE, DATE it reported DATE results, ORG spokesman PERSON said.
""He called DATE and said he would not be in for personal reasons,"" GPE said. ""They haven't seen him since.""
PERSON's whereabouts were unknown.
The problems may jeopardize ORG's planned acquisition of ORG, a consumer finance company, from ORG in a MONEY deal announced on DATE.
DATE's announcement caught the financial community by surprise, with analysts unwilling to comment after ORG's statement, saying they were still trying to gather information.
As a result of the adjustments, shareholders' equity as of DATE, would be reduced from MONEY, the company said.
As a result of the overstatement of earnings, ORG said it is in violation of some of its debt agreements and was negotiating with lenders.
It said its financial condition remained strong and would support continuing operations and its expansion plans.
ORG said it would await the results of the accounting investigation before proceeding with the sale of ORG. ORG said it was optimistic about completing the deal.
ORG said DATE net income would be restated to MONEY from MONEY, DATE profits would be cut to MONEY from MONEY and DATE earnings would be MONEY instead of the MONEY originally reported.
In addition, DATE profits would be trimmed to MONEY from MONEY.
ORG stock was halted all day on ORG. It closed DATE at $MONEY.
ORG cut its rating on ORG's short-term borrowings and ORGamp; Poor's said it may lower its rating.
ORG suffered another blow DATE, when PERSON, chairman of the company since it went public in DATE, died in DATE.","GPE's independent brewers on DATE pressed for a cut in the excise duty on beer ahead of Chancellor of the Exchequer PERSON budget statement on DATE.
The brewers are lobbying hard this time round, after ORG's previous budget cut the duty on ORG whisky for the ORDINAL time since DATE, while leaving the rates on beer and wine unchanged. The duty on beer was raised by CARDINAL a pint in DATE.
""Increasing excise duty over a period...has inevitably increased the divergence with our NORP partners. The single market demands a single fiscal policy and a uniform excise duty,"" said a letter to the ORG newspaper from the chairman of ORG of GPE.
The letter said the group would deliver a petition to the NORP parliament, asking for ORG to take into account the wide differences in excise duty between ORG member states on alcoholic drinks and beer in particular.
The ORG and ORG (BLRA) are arguing that a PERCENT cut in the beer duty, equivalent to knocking CARDINAL off a pint, would lower inflation, help boost government revenue and discourage illegal cross-border shopping.
ORG researcher PERSON used the ORG's own economic model to argue that a PERCENT cut in beer duty would mean lower inflation, more jobs and in DATE of a duty cut more money for the ORG.
NORP duty on a pint of PERCENT alcohol by volume is MONEY. In GPE, it is MONEY, encouraging people to buy their beer in mainland LOC.
The total volume of duty paid beer flooding into the country is estimated by the BLRA to be CARDINAL percent of the total beer market. CARDINAL of this is for illegal resale.
ORG estimates the government has received CARDINAL stg more in revenue from the industry as a result of the last cut in the whisky duty. It says the reduction has also fed through into lower prices for consumers.
Before DATE budget, a typical bottle of blended whisky costing MONEY ($MONEY) PERCENT went in tax, with duty at MONEY a bottle and value added tax at MONEY.
Since DATE cut in duty, average prices per bottle have fallen to QUANTITY for on supermarket own labels, although the price of brands has risen slightly. The ORG is pressing for PERCENT off duty paid on a bottle.
GPE's tobacco industry wants a freeze on duty, arguing the government is losing revenue because the tax is so high compared with central LOC, that smuggling is rife.
""We would certainly like to see a freeze DATE because we are so far out of sight of the rest of LOC that it's causing a major smuggling problem,"" said PERSON, media relations at ORG. ""The government is currently missing out on CARDINAL a year in lost revenue,"" he said.
A QUANTITY pack of rolling tobacco normally costs CARDINAL stg in GPE but can be bought in Belguim for slightly under 2.0 stg. The ORG estimate PERCENT of all hand rolling tobacco sold in GPE comes from mainland LOC and PERCENT of that is smuggled across.
In his last budget statement ORG, left the duty paid on hand rolling tabacco unchannged but raised thaty on cigarettes by MONEY per pack. ORG currently retail for around 2.95 pounds.
In the DATE budget, ORG pledged to raise tobacco tax on average by the rate of inflation plus PERCENT in future budgets. DATE rise was equivalent to the rate of inflation plus PERCENT. ($MONEY Stg)",0
"GPE, CARDINAL of the world's big CARDINAL international accounting and consultancy firms, believes investment in infrastructure and technology has put it on track to hasten revenue growth.
""We would like to be growing faster and are committed to growing faster,"" PERSON, chairman of ORG told ORG in an interview on DATE.
Earlier the group reported an PERCENT rise in worldwide revenues for DATE to MONEY, up from MONEY DATE.
PERSON, who DATE said revenue growth in excess of PERCENT was a reasonable expectation, said ORG had invested heavily in infrastructure and technology during DATE and this would pay off in terms of further growth.
He said all sides of the business had performed well over DATE but stressed that significant growth in revenues was likely to come from the consulting side of the business rather than from the traditional backbone of auditing and tax.
""If you look at where the great opportunity is, its on the consulting side,"" PERSON said.
While ORG's growth rate for DATE was lower than rival firm PERSON, which DATE reported a PERCENT increase in DATE revenues to MONEY, PERSON said he was not disappointed with the firm's result.
When looked at on a dollar-adjusted basis, the DATE revenue growth was the same as for DATE, PERSON said.
But there was still work to be done.
""I said DATE we need to be growing faster. I just think we have got to do a lot better than that. It's a big ship and you don't turn it around in DATE,"" he added.
The investment and strategic moves ORG had made had ensured it would be in a strong position for the future. ""The road we are on is the right road"".
PERSON said the firm's partners were agreed that the moves it had made over DATE were correct and the fact that everybody wanted faster growth confirmed the need for large-scale investments.
""We are making sizeable dollar investments in terms of infrastructure and product development."" This included MONEY a year on technology and ""well in excess"" of MONEY on products.
For PERSON the key is what the partnership, which employs CARDINAL people and has CARDINAL partners, is doing in DATE time.
The strategy which ORG has embarked on will not be altered to achieve further revenue growth and areas such as developing new products and establishing a framework of common industries and a common infrastructure across the firm's worldwide business will continue.
PERSON, who believes there will be further consolidation among the big accountancy firms, said ORG will also stick to growing from within rather than through large-scale acquisition.
The number of major accounting firms in the world has dropped from DATE, with a rise in competition from other types of firms.
But PERSON does not see ORG making any big buys.
""There will be local acquisitions and mergers down the road but I don't think anything big is on the horizon.""","Shares in ORGamp; ORG (C&W) advanced on DATE after investors welcomed news of a deal with ORG of GPE and ORG to create GPE's largest cable operator.
""This was a bold strategic stroke by the (C&W) chief executive,"" said PERSON, analyst at ORG.
The deal, which took DATE to complete, brings together C&W's ORG, NORP cable company ORG, ORG and ORG CableComms, eclipsing GPE as GPE's biggest cable operator.
It sent C&W shares soaring, peaking at MONEY before easing back to close up CARDINAL at MONEY.
The move is a landmark deal for C&W chief executive PERSON, appointed DATE, and follows the collapse of merger talks DATE between C&W and its great rival ORG.
""The logic is irrefutable...the advantages of scope and size are undoubtedly there,"" said ORG analyst PERSON.
BT said it welcomed the consolidation in the sector and analysts said the move could strengthen the telecoms giant's calls for it to be allowed to provide cable television.
But ORG's shares edged lower to close down CARDINAL at MONEY and analysts said the new company would give ORG a run for its money.
""We had a common vision of what could be done and we have done it with speed and nimbleness,"" PERSON told ORG. C&W DATE replaced ORG in a major NORP alliance with diversified utility PRODUCT that is seen as the main competitor to ORG dominance as the NORP market is liberalised.
The new merged company, which will provide integrated telecommunications, information and entertainment services, will give C&W's telephone company ORG access to CARDINAL business and domestic customers, PERSON said.
The number of homes within its sights will eclipse former market leader PERSON's CARDINAL at CARDINAL but it will not be in direct competition as the companies operate in different franchises.
Telewest's shares were boosted by the news, as analysts re-evaluated the potential in the sector, gaining MONEY to close at MONEY.
""This is clear evidence of confidence in the future of the GPE cable industry,"" a spokesman for industry body ORG, said.
MONEY (MONEY) has already been invested in laying out cable networks and a further MONEY of investment is planned, the spokesman added.
In a related deal, ORG is being bought by ORG in a complex transaction involving a MONEY equity investment in ORG by ORGamp; ORG. This values ORG at MONEY.
Once the merger and ORG deal have been completed, ORGamp; ORG will own PERCENT of the new company -- to be called ORGamp; ORG -- with ORG owning PERCENT and ORG PERCENT.
PERCENT will be floated, which analysts said would give it some scarcity value, with listings planned in both GPE and GPE, probably in DATE.
C&W's PERSON said he could not detail the financial aspects of the merger because of the new company's planned listing.
McFadden said cost savings should be quite significant, including tax offsets, refinancing of high-yield cable television funding and possibly through staff cuts, along with eliminating duplication in laying cables.
The new group aims to increase revenues by providing a wider range of services to existing customers, offering a combination of telecoms, broadband, data transmission, video shopping and Internet access.
It could also secure more favourable terms for programming from BSkyB, the satellite broadcaster in which PERSON ORG has a PERCENT stake.
BSkyB shares ended down MONEY at MONEY. ($MONEY Pound)",1
"NORP insurer ORG reported a fall in DATE profits on DATE, despite DATE.
Operating profits slipped QUANTITY to 421 million (MONEY) although a rise in weather-related losses of MONEY more than accounted for the decline.
The recent strength of the pound was offset by a change to an average translation of overseas earnings instead of a DATE translation which added QUANTITY to the operating line.
Despite DATE, profits were above market forecasts and a PERCENT increase in dividend for DATE to MONEY per share also beat expectations.
Net assets per share rose to MONEY from MONEY.
By TIME General Accident shares had added MONEY to MONEY.
General Accident chief executive PERSON described the market as increasingly competitive but added that the strategy of focusing on underwriting skills and building the life business was bearing fruit.
ORG said the group wanted to focus life operations in GPE and the goal was to increase the proportion of life earnings to a level that covered dividends DATE.
The proportion of dividend covered by net life earnings in DATE was PERCENT but ORG ruled out any major acquisitions in the drive to expand the business.
""At the present time there's nothing wrong with organic growth in life. We've proved we're capable of achieving that,"" said PERSON.
Provident Mutual, acquired in DATE, contributed MONEY to the results, net of reorganisation costs of MONEY and General Accident said it was now looking to capitalise on the pension expertise which NORP brought to the group.
The key for the life company was the profitability of new business and the group had done well in DATE which included the integration of Provident, said PERSON.
Scott dismissed speculation of a possible merger or takeover of General Accident.
""We've got the benefits of scale in our major businesses. We don't have to do anything,"" he said. ""We'd like to make further acquisitions in the GPE Midwest but don't see any need to dramatically change our current shape.""
The rating environment continues to be mixed and General Accident echoed comments from ORG and ORG that there were signs of firming motor rates.
""There are certainly signs that in personal motor rating increases are coming through. We're putting another rate increase through in commercial motor,"" said PERSON.
There were, however no signs of rate increases in the homeowner or commercial sectors.
Like other insurers, General Accident results saw an increase in weather losses over DATE and said that results from GPE were also disappointing. ($ = MONEY)","ORG, fresh from its demerger from ORG in DATE, said on DATE it was capable of cutting back debt levels and investing in further export growth as a dual policy.
PERSON, chief executive, told ORG in an interview that the CARDINAL could be achieved ""in parallel"" because of the group's strong cash generation. In particular, PERSON revealed ORG was in talks with a NORP company about entering the market for the ORDINAL time. He also said the group would keep open the option of a share buyback in the future.  
ORG inherited MONEY stg of debt as its legacy from the ORG family break-up. But PERSON said this did not hamper the group's plans to seek distribution deals or joint ventures in the overseas cigarette markets and possibly examine small acquisition deals in the fragmented cigar market.
He added that if an important larger-sized acquisition opportunity came up he would be prepared to raise debt levels, but for the moment ""the priority is to get it down. Our situation, our ability to generate cash means we can do things in parallel - pay down debt and pay for acquisitions...PERSON-on acquisitions are more likely in the cigar area,"" he added.  
On the NORP market in particular, PERSON told ORG ""We are looking to do something in GPE. We are actively considering this. In CARDINAL way or another we will establish a presence in that market,"" admitting that talks were underway with one party.
But he sought to reassure shareholders that ORG would not squander its sound financial inheritance in its bid to catch up in the overseas field. ""In our international expansion plans I would not dream of being a balance sheet wrecker,"" he said. If ORG failed to find the right deals, it would be prepared to conside other options to return value, he said.  
If a possible acquisition fails to offer sufficient rates of return ""we would say: what would a share buyback do to enhance shareholder value, rather than a potential acquisition?""
""A buyback is something we'd never rule out. Given our cash flow characteristics people tend to say ""What are you going to do with all that cash.'""
ORG reports its ORDINAL set of results since the ORG demerger on DATE when it will give a trading update of DATE since its split.
PERSON said he expected the GPE market to continue to decline at PERCENT DATE.  
But the international business, accounting for PERCENT of profits in DATE, s expected to show continued rapid growth.
""I would be very disappointed if it wasn't PERCENT by CARDINAL."" DATE have seen overseas sales double, but PERSON drew the line at hitting his target by DATE.
""That would be overstating it (our confidence). But the signs are the business is showing strong growth.""
Despite his caution, PERSON has said that the company has already clinched a deal with unions to add a ORDINAL shift from DATE which has the potential to raise capacity at its ORG factory  by CARDINAL.
ORG says if a number of overseas deals start feeding through it will be ready to meet the surge in demand.
The ORDINAL shift could, in theory, raise ORG's total cigarette production to CARDINAL from the existing MONEY.
DATE newsroom +44 CARDINAL 5427717",0
"NORP aluminium producer PERSON is expected to report a nose-dive in net profit for calendar DATE after prices and exchange rates turned against it.
GPE, owned PERCENT by ORG, is predicted on average to post a pre-abnormal net profit of MONEY, a fraction of the MONEY it earned in DATE, according to the ORG forecasting service.
The bottom line may even dip itself in red ink after a net abnormal loss of MONEY stemming from GPE's DATE decision to end kaolin production, CARDINAL analysts told ORG.  
GPE, which posted a net profit after abnormals of MONEY in DATE, was LOC's biggest supplier of kaolin clay, used in paper manufacturing.
The company has already warned of a dismal ORDINAL DATE.
In DATE it forecast a DATE loss and admitted prices and exchange rates were not entirely to blame.
Higher smelting costs also figured in GPE's warning to the stock market, particularly at its GPE plant, which is being upgraded to expand annual production at the FAC plant by QUANTITY to QUANTITY.  
""They have seriously screwed up their costs,"" CARDINAL GPE-based analyst told ORG.
The analyst compared GPE's performance with a relative minnow, ORG, which he said earned a profit before interest and tax from a smelting base a ORDINAL the size.
""And they (Capral) don't have the upstream businesses which GPE do, which are profitable,"" the analyst said, referring to GPE's bauxite mining and alumina refining businesses.
But analysts agreed weak aluminium prices and a strong NORP dollar did the overwhelming majority of the damage to GPE's bottom line in DATE.  
The average ORG DATE aluminium price fell PERCENT, or PERCENT in MONEY terms, in DATE. It was MONEY per pound over DATE, but slipped to MONEY for DATE. It was MONEY in DATE.
The market was unkind in other ways.
GPE's price premiums in LOC also came under pressure as weak demand in LOC prompted NORP and LOC smelters to dump aluminium on the company's traditional market, said analyst PERSON, of ORG.
An appreciating NORP dollar also inflicted pain.  
But analysts are forecasting a strong return to profit in DATE, with the GPE dollar already sitting well below its peak of over MONEY in DATE and the aluminium price back up to MONEY per pound.
""The outlook is positive and I am optimistic,"" CARDINAL GPE-based analyst told ORG, citing earnings growth from GPE's CARDINAL-owned LOC smelter in GPE state.
A ORDINAL pot line is being added to the smelter, adding QUANTITY to its annual output from DATE. GPE's share of production was QUANTITY in DATE.
GPE is due to report its results on DATE.  
-- GPE bureau CARDINAL","GPE's most profitable casino operator, PRODUCT, said on DATE its long-term ambition lay in LOC where it planned to continue its winning streak with the region's high-rollers.
ORG chairman PERSON told shareholders in GPE, where the company's new casino and hotel complex is nearing completion, that the new MONEY premises would be a show-case development for LOC.  
""If we are successful in GPE, GPE, I think we can be successful in LOC,"" PERSON told ORG's DATE meeting at the casino's temporary home beside the city's LOC, near the new ORG complex due to open in DATE.
""I think what we are doing with this project is that we are probably show-casing it to LOC and that's basically what our ambition is as far as that is concerned,"" PERSON said.
ORG plans to open another CARDINAL NORP marketing offices in GPE, GPE and GPE. It already has offices in GPE, GPE, GPE and GPE, enticing big gamblers there to take their chances at the GPE casino.  
PRODUCT derived PERCENT of its gaming revenue of MONEY in DATE, which underpinned a PERCENT rise in net profit after abnormals to MONEY.
PERSON told reporters later he hoped to build this PERCENT or higher.
""I find it remarkable the wealth creation in LOC. Their principal leisure activity is gaming,"" he said.
""In LOC, comparatively speaking, they (high rollers) treat A$MONEY like A$MONEY,"" he added.  
ORG wants to bed down its new casino and hotel complex before launching a foray into LOC, PERSON said, adding he was not interested in small casino licences such as one recently awarded in the NORP capital, GPE.
""There are all sorts of licences available in LOC at the moment....I'm not interested in those licences, not those little licences,"" he said.
""I was talking about a major licence where a government decided to legalise gaming in a genuine way and the only place (in LOC where) that's done that...at the moment is GPE.""  
GPE's ORG, a subsidiary of ORG owns and operates that country's only casino in the mountain resort of LOC.
PERSON said that if GPE, CARDINAL of ORG's biggest source of high rollers, ever followed suit and awarded an exclusive casino licence, ORG would be a bidder.
""There are gaming jurisdictions that are opening up in LOC, but I don't think they will open up in the short term; I think it's more like the medium term.""  
PRODUCT has been operating for DATE but, partly due to relatively low state-government tax on revenue from international gamblers, it has emerged as the most popular of GPE's listed casino operators.
PERSON told shareholders the company's DATE performance for DATE was stronger than DATE, adding that DATE was normally stronger again.
But he warned that dividends might not be paid until after the new complex's DATE of operation.  
""I would think it would be probably prudent to have DATE of operation at ORG (site) before we considered that,"" he told the meeting.
ORG shares were MONEY lower at A$MONEY at TIME (DATE ORG).
-- GPE bureau CARDINAL 9286-1421",1
"Shipping magnate PERSON was to fly to GPE on DATE to be anointed by GPE's communist leadership as GPE ORDINAL NORP leader when GPE pulls out in DATE.
Tung was to head for the NORP capital in the TIME after addressing GPE business community in his ORDINAL major speech since he was selected as the territory's future chief executive DATE.
In GPE, he will have his ORDINAL face-to-face meeting with GPE's President PERSON and Premier PERSON since formally launching his bid for GPE leadership mantle DATE.
It was PERSON who signalled in DATE that GPE was GPE's favourite for the job when he singled out the tycoon for a warm, personal handshake at a reception in GPE.
GPE is returning its last major colony to its former and future masters in GPE at DATE, after DATE of colonial rule that turned it into one of LOC's economic marvels with a population of CARDINAL people.
One of Tung's ORDINAL tasks in the twilight of NORP rule will be to cobble together an advisory cabinet called ORG and to decide which senior mandarins to keep.
He has said he will start this task after his GPE visit, reinforcing speculation in GPE that GPE will call the shots from behind the scenes on the make-up of the future government of GPE.
""If he waits before deciding on his team, there will be lingering doubts as to whether he was acting on instructions received from GPE,"" LOC said in its main editorial on DATE.
On DATE, the colonial government said it would set limits on how much it would help PERSON to form a government-in-waiting before the transfer of sovereignty.
ORG Secretary PERSON told ORG that the government ruled out a mass exodus of senior officials to the government-in-waiting because it would undermine the stability and efficiency of the present administration.
The colonial administration is supposed to cooperate with the incoming government under the handover agreement.
But the transition has been fraught with disputes over issues ranging from human rights and democracy to infrastructure projects, darkening prospects for serious cooperation.
Many senior civil servants, including Chief Secretary PERSON, who is Governor PERSON's deputy, and ORG Secretary PERSON, stayed away from a business dinner party attended by GPE on DATE TIME, though they had been invited.
Officials said PERSON had scheduling conflicts but political analysts said it might have been a sign that the administration's top CARDINAL civil servants would not keep their jobs.
The CARDINAL-member, GPE-controlled ORG that selected GPE DATE is now preparing for the next milestone in the march to NORP rule -- the selection on DATE of a CARDINAL-member, pro-China ""provisional legislature"" with which GPE plans to replace the existing, elected legislature on DATE.
Patten again condemned the new legislature in an interview with the NORP newspaper ORG on DATE, saying he would never cooperate with it.
""This echo chamber has no place in the political or administrative life of GPE,"" he said.","The NORP consumer price index rose PERCENT in DATE putting DATE inflation at PERCENT, down from PERCENT in DATE, ORG said on DATE.
The moving DATE average of inflation remained unchanged at PERCENT in DATE. The figures were most influenced by a full percentage point rise in food, drinks and tobacco prices during DATE and a PERCENT rise in clothing prices.
Analysts said the overall result was in line with expectations or even a bit lower, as DATE of slowing in the year-on-year figure convinced some that the DATE rate would end PERCENT.
""This (DATE's inflation result) is slightly better than expected, but not a big surprise,"" said PERSON, analyst at ORG said.
""Our forecast in unchanged at PERCENT for average inflation (at DATE), but PERCENT seems to be achievable,"" he said.
PERSON added that DATE's result was aided more by a strong NORP crown keeping import prices in check and relatively slow growth in industrial producer prices which have been rising at a PERCENT DATE rate.
Industry and Trade Minister PERSON told a news conference the result was expectated and ""for DATE, I would like to see (average inflation) at PERCENT.""
The government had forecast average inflation to slow a full percentage point in DATE to PERCENT, but a surge in domestic demand kept prices stubbornly over nine percent in DATE.
The Czechs have been encouraged by ORG (ORG), the group of the most industrialised countries to which the NORP now have membership, to do more to stem inflation.
""From the perspective of an ORG member, our inflation is high ...our economic policy has to lead to a lowering inflation suggested by ORG and the LOC treaty,"" Dlouhy said.
ORG (CNB) in DATE tightened monetary policy by raising its key interest rates and expanding minimum reserve requirements to dampen domestic demand.
The central bank said DATE the moves served to pull its key CARDINAL measure of money supply growth at DATE to the low end of its PERCENT DATE target at PERCENT, from PERCENT DATE.
But ORG said the effects of the money supply tightening should not be evident until well into DATE, and he did not expect the CNB to ease credit rates at least until then.
-- PERSON, PERSON, CARDINAL-2-2423-0003",0
"GPE Governor PERSON told a meeting of central bankers on DATE that the territory's economic prosperity was due to its increasingly democratic government.
In remarks aimed as much at official audiences over the border in GPE as at the central bankers attending the financial conference he was addressing, PERSON said GPE people had developed the institutions and values of a civil society.
""The government has responded (positively) to that process and to the changes in aspirations which have accompanied it, by welcoming ever wider public participation in the process of government,"" he told the conference, organised by ORG and ORG (IMF).
He drew attention to GPE's commitment, in the NORP accords covering the NORP colony's return to GPE DATE, to allow the development of democracy in the territory.
GPE, a territory of CARDINAL people on the south GPE coast, reverts to GPE after DATE as a NORP colonial possession, under a DATE NORP treaty.
The treaty, the Joint Declaration, guarantees the territory will have a high degree of autonomy and keep its freewheeling capitalism for DATE after the handover.
The territory is one of the world's economic marvels. It is the ORDINAL largest trading economy and sits on CARDINAL of the world's biggest pots of foreign reserves -- MONEY.
However, GPE has launched moves over DATE to scrap GPE elected legislature, reverse PERSON's reforms that widened the democratic franchise and roll back laws on civil liberties, when GPE resumes sovereignty.
GPE's moves have stirred outrage among the territory's pro-democracy groups and opposition from GPE and GPE, undermining a smooth transition.
""Democracy, as promised and pledged in the Joint Declaration and in LAW, has taken root and started to flourish here. This has strongly underpinned GPE economic prosperity and GPE social stability,"" PERSON said.
He said GPE stability in DATE would need what he called ""responsive government"". Economic and social change would put huge strains on society, PERSON said.
""Those pressures demand sophisticated and responsive institutions of public administration to channel them productively into communal progress rather than letting them build up to the detriment of political and economic stability.
""GPE has responded creatively to the pressures that it's faced, preparing itself for all the challenges which, like all the developing economies of LOC, it will face in DATE. That's not a process which should or could be stopped.""","ORG DATE launched its new, streamlined banking system on ORG online computer system, with some of the largest banks in GPE agreeing to use the product.
ORG's BankNOW will be offered as part of ORG, along with products by ORG, PRODUCT and  ORG.  
BankNOW is geared to customers who wish to conduct banking transactions such as bill paying and fund transfers online, but do not use the personal finance software that is part of ORG's PERSON banking package, GPE, GPE-based ORG said in a news release.
So far, CARDINAL GPE financial institutions, including ORG and ORG are using BankNOW, with CARDINAL committed to use the product, ORG said.  
GPE, GPE-based GPE Online, said CARDINAL financial institutions provide banking services on the system.
The BankNOW software can be downloaded for free from GPE Online. Financial institutions charge their customers for using the product.
For example, ORG said it will charge $MONEY a month for customers using online-banking and $MONEY a month for online banking and bill paying, though some premium checking account users will be able to do online banking for free.
ORDINAL GPE looks at BankNOW as a premium service it can offer customers.
""We think there is a large market for this,"" ORDINAL GPE spokesman PERSON said. ""We also think this is a point of differention in our markets.""
But to some, the scope of online banking still remains in doubt.
""I don't know whether its the wave of the future,"" said PERSON, banking analyst at ORG ""I don't think they (the banks) know either. I just think they're keeping their options open.""
--Reuters GPE newsdesk, CARDINAL-408-8787",0
"A NORP plan for CARDINAL ORG (PLA) troops to march into GPE TIME GPE hands the colony back to GPE in DATE would send the world a bad signal, diplomats said on DATE.
ORG reported that GPE had told GPE it intends to march CARDINAL troops across the border into GPE when GPE takes over at DATE.
PERSON, a spokesman for ORG mission in GPE, told ORG that GPE had announced no such plan to the NORP side in ongoing handover negotiations.
""Although we've been discussing the transfer of defence responsibilities with the NORP and are of course discussing arrangements for the handover ceremony itself, the NORP have not told us of their plans for moving defence forces into GPE after TIME on DATE,"" PERSON said.
""This is a matter which is entirely for them, but if reports such as that in ORG are true, then the question arises whether this sort of display of military force conveys the right message to the rest of the world,"" he said.
In GPE, GPE said it would station troops in GPE after it regained sovereignty DATE, but the number would depend on defence requirements.
""The central government will send an appropriate number of troops into GPE"" after the transfer of power DATE, ORG spokesman PERSON said.
""The actual number will be based on the defence needs of GPE,"" Cui told reporters, without saying when the troops would be moved into the territory.
Diplomats in GPE, who asked not to be identified, said the plan outlined in the newspaper report seemed very credible given GPE's hardline stance on many handover-related issues.
""We have made it absolutely clear to the NORP that it would be far better, if they want to send the right signal, if they would build up their armed forces in GPE in a gradual way, over a period of time,"" CARDINAL NORP source said.
""Of course we got no response,"" the source said.
""This would be exactly the kind of thing to send a shiver down GPE spine, and would raise questions about GPE's commitment to a smooth transition,"" a Western diplomat said.
GPE is switching back to the NORP flag after DATE as a colony on GPE's southern doorstep.
The approaching handover has been frought with jitters. Many of the territory's CARDINAL people fear a crackdown against human rights, democracy and press freedom, as well as possible trouble with the PLA soldiers, after the transfer.
For most people in GPE, the ORG conjures up images of the bloody military crackdown that was unleashed, with heavy loss of life, against the student-led pro-democracy movement in GPE's FAC in DATE.
GPE and GPE have been sparring lately in handover negotiations over whether or not a ORG advance party in GPE can carry weapons before the handover.
Also disputed is whether PLA garrison soldiers should be put on trial in GPE courts if they commit crimes in the territory.
Under a proposed law drawn up unilaterally by GPE, the ORG troops would be tried in military courts on the mainland, not civilian courts in GPE.","GPE's top cashmere producer, ORG, reported good interim results on DATE and brokers expect a solid ORDINAL half as raw material prices fall.
The company, a favoured stock among GPE's B share market bucked the trend of disappointing mid-term results with a PERCENT increase in profits over DATE to MONEY (MONEY), despite lower revenue.
A spokesman for ORG said he expected net profits for DATE to rise to MONEY from MONEY in DATE. Turnover in DATE fell to MONEY from MONEY.
""The jump in net profit was due to lower costs, primarily a drop in the price of raw materials in DATE,"" company director PERSON said in an interview.
He gave no further details but a foreign stock analyst based in GPE said the price of raw cashmere had fallen PERCENT from its DATE highs.
The analyst said ORG had indicated it had exhausted its stockpiles of DATE raw cashmere and was replacing them with new stocks that were PERCENT cheaper.
""Generally we're fairly positive about the company,"" said PERSON GPE representative PERSON. ""We will probably upgrade them from a hold to a buy.
""We're expecting a better ORDINAL half because they're using cheaper raw materials and looking for really good stuff to happen in DATE,"" he added.
Analysts said a large portion of Erdos' sales to GPE and LOC were booked in the DATE period which should boost the company's position.
The positive effect of lower raw materials prices is expected to help the firm well into DATE.
Analysts said another factor helping to lift Erdos profits despite falling revenues was a move by the company into garment manufacturing, which has higher profit margins.
The company bought CARDINAL textile manufacturing firms in DATE, each of which has a PERCENT NORP equity stake.
A company statement in ORG on DATE said Erdos planned to establish CARDINAL more joint ventures with domestic companies in DATE for garment production.
Erdos shares closed on DATE at $MONEY, up CARDINAL on the GPE exchange. The shares were ORDINAL listed DATE at their issue price of $MONEY.
(MONEY)",0
"Some of the world's most influential gold producers are upping the ante as a DATE deadline edges closer for GPE's ORG to make a deal with gold giant ORG
At stake is the rich Busang gold deposit in GPE. New estimates released on DATE suggest the discovery contains QUANTITY of gold that can be mined at the low cost of US$MONEY an ounce.
The NORP government has virtually mandated that ORG must carve up its find, with PERSON getting PERCENT of ORG stake and ORG.
And the government of President PERSON has also made it plain it would ""appreciate"" a stake of PERCENT in GPE.
But now, some major figures in the gold mining world are protesting that the deal ordered by GPE is unprecedented and unfair. They are pressuring GPE to allow rival bids.
""I think it's ORG natural right to have a say who their partner will be,"" PERSON, chief executive officer of GPE-based ORG, told ORG in an interview on DATE.
GPE, GPE's ORDINAL biggest gold company and CARDINAL of the world's largest, wants to bid on GPE, and PERSON said ORG and ORG have also been at the negotiating table for DATE.
The CARDINAL heavyweight mining companies were abruptly shut out of the process DATE when GPE forced ORG into ORG's arms.
Analysts have suggested PERSON used its business connections with PERSON's eldest daughter, as well as political connections through ORG advisers former GPE President PERSON and former NORP Prime Minister PERSON, to sway the NORP government.
""We were clearly disappointed -- that's a nice way of putting it -- that all of a sudden the thing went away from us,"" PERSON said in an interview. ""Something has been going on that is not kosher in the West.""
PERSON said he believes the NORP government can be persuaded to consider other offers for Busang. Otherwise, the country would face international condemnation and risk losing foreign investment, said PERSON.
""This is indeed unusual,"" he said. ""The message to the whole market is we risk our money big time to find gold, and if we really find the jackpot, somebody's going to come along and tell us what to do with it.
""It would put a great big red flag on GPE,"" he added.
Placer, GPE and Teck must now await word from NORP government on whether they will be allowed back into the bidding process.
GPE's consulate in GPE declined to comment on the matter on DATE. ORG also would not comment.
Teck's chief financial officer, PERSON, said the company would consider bidding for GPE if GPE opens the door to an auction process, but would likely seek a partner in any bid.
""That's a pretty big bite,"" said PERSON.
PERSON, however, noted GPE could comfortably afford to take on Busang alone, despite a recent MONEY bid for a larger stake in GPE ORG gold deposit.
He would not say what price ORG was willing to offer, but ""it's clearly worth considerably more that what's being contemplated,"" he said after looking at the new resource calculations for Busang.
The resource calculations are in line with analysts' expectations, said mining analyst PERSON with ORG in GPE, who noted that most analysts believe GPE holds a lot more gold than has already been outlined.
ORG said he was not concerned about the DATE deadline ticking past without news from GPE.
""My take on it is that the NORP government imposed this DATE deadline primarily as a means to facilitate bids and get the process moving,"" he said. ""You get everyone who is interested and serious stepping up.""
But analyst PERSON with ORG in GPE expressed doubts about the NORP government soliciting more suitors for ORG ""Why should the NORP government provide the market with a bidding process just because we want them to?"" she said.
LOC gold miners are not alone in seeking a piece of Busang. PERSON NORP partner PERSON has claimed PERCENT of the deposit. And the former NORP owners of the property say they also have rights to part of the riches.
PERSON closed at C$MONEY, down C$MONEY, on ORG on DATE. PERSON was halted at C$MONEY, up CARDINAL, when trading was halted for the new resource calculation. GPE lost CARDINAL to close at CARDINAL.","NORP PERSON published further evidence on DATE that its cancer drug ORG worked, but analysts said there was still a long way to go before its potential as a blockbuster product can be confirmed.
Shares in the company slipped back after its keenly-awaited announcement appeared to provide comfort for both bulls and bears on ORG, a new class of cancer drug which some predict could DATE have sales of MONEY a year.
The stock was down MONEY at MONEY in TIME trading. But analysts noted that it rose sharply DATE ahead of publication, while the decision by ORG to sell a sizeable chunk of its holding on DATE had mopped up much of the buying interest in advance.
ORG-based NORP Biotech used a cancer conference in GPE to make a number of presentations on trials of the drug in gastric, colo-rectal, ovarian and pancreatic cancer.
It said the studies, based on cancer patients who continued taking the drug after the DATE period needed for ORG trials, confirmed ORG's ability to reduce the rate of rise of cancer antigens, CARDINAL measure of how much cancer is present in the body. It also provided evidence of succcess in gastric cancer, where a large scale trial is now underway.
Some analysts said there was little new in the statement, which was largely a confirmation of PERSON, or intermediate stage, data published in May.
""Those who were sceptical in DATE will remain sceptical and those who were bullish in DATE will remain bullish,"" said CARDINAL analyst who asked not to be named.
Finance director PERSON said the company had been deliberately cautious in its comments to avoid raising false hopes among cancer sufferers. Nevertheless he told ORG that ""In many ways I think this is the most impressive data since the company was floated.
One of the bulls, PERSON analyst PERSON, said the real news was hidden in presentations made by doctors at the GPE conference. He said that despite the ""mishmash"" of data from the trials, which covered CARDINAL patients, there was ""very compelling"" evidence that ORG had improved chances of survival.
""On this information DATE we can say that...PERCENT (of patients) had a real overall response which improved their survival chance significantly,"" Savin said.
However, others expressed disappointment that NORP Biotech failed to provide more detailed analysis of side effects caused by ORG. ORG confirmed that it caused joint pain, mainly in the arm and shoulder, with PERCENT of patients affected after DATE.
ORG analyst Erling Refsum said the side effect profile will be crucial to ORG's potential. ""Drugs become top sellers because of their side effect profile rather than because of their efficacy profile,"" he said.
Noble played down concerns about side effects, saying ""they are not a serious problem. They are reversible."" He said patients who suffer badly will be able to interrupt their treatment from time to time without any adverse impact.
Analysts pointed out that no real estimate of just how big ORG will be could be made until Phase III trials were completed. This means investors will have to wait until DATE at the very earliest for hard evidence that their optimism about ORG and NORP Biotech is well founded.
-- GPE PRODUCT +44 CARDINAL 7717",0
"PERSON lined up outside stores DATE, some arriving before dawn to get an early start on DATE.
DATE after DATE is traditionally one of DATE for retailers and the unofficial start of DATE, the make-or-break time for many retailers.
With consumer confidence high and employment strong, analysts are generally expecting sales gains of PERCENT over DATE weak sales growth. The crunch is especially tight DATE, since there are DATE between DATE and DATE.
""The money's there. The confidence is there. The jobs are there. The goods are there and the pent-up demand is there,"" said PERSON, chief economist at ORG. Sinai forecast sales growth of PERCENT for DATE, compared with PERCENT gains DATE.
Shoppers also were there, with many retailers offering early bird sales to entice them.
PERSON lined up outside the door of ORG at ORDINAL Colony Mall in GPE, GPE, a suburb of GPE, at TIME
""You should have seen ORG. They had a QUANTITY television on sale for $MONEY, and people were fighting for those TVs. Arms were flying, and people were just pulling those things off the shelf,"" she said.
PERSON, of GPE, GPE, was shopping for baby gifts in GPE GPE, a ORG store chain.
""They had a line outside GPE of CARDINAL people,"" said PERSON, who began her shop-a-thon DATE at TIME, shopping list in hand. ""I started out with a list of what everybody wanted and what time every store opened.""
As CARDINAL of the ORDINAL customers through the door at GPE, she was handed a bag with treats, juice, coupons and mints.
""I came here for a 64 bit ORG (for my granddaughters) and they had CARDINAL in stock, but I ended up with two bags of DATE presents,"" PERSON said at FAC in GPE, GPE
Other items that were expected to be hot DATE are those related to the movies ""CARDINAL Dalmatians"" and ""WORK_OF_ART,"" said PERSON, president of ORG. PERSON dolls from ORG are also expected to be hot sellers, especially Holiday PERSON.
""Believe it or not, PERSON still has legs,"" PERSON said.
The federation is forecasting holiday sales will rise PERCENT over DATE, reaching MONEY.
While the the day after DATE attracts traffic and media attention, actual sales for retailers tend to come TIME.
""This whole weekend only accounts for PERCENT of purchasing,"" said PERSON, vice president of research for ORG.
PERSON, a spokeswoman for PERSON, said sales volume DATE after DATE is typically CARDINAL times the retailer's normal sales. That day and the Saturday before Christmas are typically the company's busiest days.
ORG flagship store in downtown GPE opened at TIME and was packed with shoppers by TIME. PERSON's Basement Chief Executive PERSON said the cold weather and a late DATE were making for DATE.
At the ORG, a mall near GPE, a small fire on a utility pole nearby cut off power to the complex for TIME DATE TIME.
""We actually ran registers, but off power. Everyone was doing it by hand, doing it by candle light,"" said a spokeswoman for the ORG's store at the mall. ORG is owned by ORG..
PERSON, head of customer services at FAC in suburban GPE, said the CARDINAL-store complex opened at TIME with CARDINAL shoppers in line to enter.
""This is going to be DATE. Our volume sales are already up PERCENT over DATE at this time,"" he said.
Apparel and soft goods were expected to lead sales nationwide, while analysts and retailers expect tough competition and a lack of major new items to pressure sales at elctronics stores.
""We'll provide an array of holiday sales,"" said PERSON senior executive vice president of marketing for GPE-based ORG and PERSON.. ""Our sales are comparable to DATE.""","NORP bank ORG said DATE it agreed to pay MONEY to acquire ORG, which owns the ORDINAL-largest savings bank in GPE and the biggest in GPE.
ABN AMRO, which already has a GPE banking arm, the GPE group, said it was offering $MONEY a share for ORG, a bank holding company with MONEY in assets based in GPE, GPE
SFB owns ORG, a large home mortgage lender in GPE that operates CARDINAL bank branches and CARDINAL home lending centres. It also operates a wholesale mortgage banking business.
Despite the offer, SFB stock fell after running up sharply in DATE on takeover speculation. Some investors were disappointed the price was not higher, analysts said.
""All the people were really speculating DATE that it was a lot higher are selling DATE because they're disappointed,"" said PERSON, analyst at ORG
SFB stock lost $MONEY to $MONEY in active trading on ORG.
Standard Federal chief lending officer PERSON said at a news conference that ORG had made the highest bid for the bank among several serious suitors.
""We had others who expressed strong interest in the bank,"" Carley told reporters.
ABN AMRO, the GPE' leading bank, said it would issue MONEY in preferred stock to help fund the acquisition, its biggest to date. It said it would issue the shares through a GPE subsidiary, ORGFormed in a DATE merger, ORG already is the biggest foreign bank in GPE. Its GPE group has CARDINAL branches and CARDINAL staff members, mainly in the GPE area.
The agreement marks ORG AMRO ORG ORDINAL acquisition in DATE and is likely to be the last for a while, ORG Officer PERSON said at a news conference.
""We're out of the acquisition business for some time now,"" ORG said. When asked how long before it might make another deal, he said, ""probably DATE.""
The combined banks will also be the ORDINAL largest mortgage originator in GPE, ORG said.
""It gets us into the league we want to be in mortgage servicing and mortgage origination,"" ORG said.
SFB employs CARDINAL people and serves CARDINAL clients in GPE, GPE, GPE and GPE.
ORG said ORG banks will continue to operate under the ORG name and there would be ""significant cost savings"" following the deal.
While saying no jobs would be cut initially, both companies said some job cuts were likely eventually as administrative functions and some branches were consolidated.
With ORG, ORG LOC will have the ORDINAL largest deposit base in the GPE market.
Analysts said recent changes in GPE banking law that will level the playing field between thrifts and banks should help speed other acquisitions of savings and loans.
""I think you're going to see an increased level of activity, both in banks acquiring thrifts and thrifts acquiring thrifts,"" said Jonathon gray, analyst at ORGamp; Co.
ORG said it had reached agreement with ORG board, but the deal still needed the approval of its shareholders and supervisory authorities.
The acquisition was expected to be completed by DATE, ORG said, adding that the deal would contribute to its earnings.",1
"ORG will expand by a ORDINAL its network of wireless-telephony shops in a campaign to cut the MONEY it spends acquiring each new customer, chief financial officer PERSON said on DATE.
The company operates CARDINAL or more of its own outlets selling PRODUCT cellular-telephone services and finds it saves MONEY on each customer signed up by its own representatives.
""I wouldn't be surprised if the number grew by a ORDINAL,"" PERSON told ORG.  
ORG has CARDINAL GPE cellular customers, a total rising at the rate of PERCENT a year. It also has CARDINAL cellular customers in CARDINAL other nations.
Dykes said ORG, a leading regional telephone group, expects the share of wireless customers secured through its directly owned shops to rise but never to replace its direct-sales force or ORDINAL-party vendors.
""We want to have a very broad distribution system and drive the costs down,"" he said.  
PRODUCT also sells in select markets personal communications services (ORG), a new generation of wireless telephony which uses spectra other than the 800 megahertz reserved for cellular, but intends to keep the PRODUCT brand for both ORG and cellular.
""The customer doesn't care,"" he said. ""We are using ORG to fill out our footprint"", or areas in its region where it does not have cellular rights.  
Marketing, he said, also played an important role in PERCENT spurt in DATE revenues from convenience telephone features ORG sells to traditional wired telephone customers.
DATE revenues for such services rose to MONEY in DATE, when net income rose PERCENT to MONEY.
Selling such services as ORG, a feature which signals a customer using a telephone that a ORDINAL caller is ringing, in discounted bundles or on a per-use basis had lifted sales mightily.
""Those CARDINAL methods are very strong drivers of our success,"" PERSON said.
Per-use sales of such services totalled MONEY in DATE, he said.
-- New York Newsdesk 212-859-1713","Debt reduction, largely through rejigging its vast cable holdings, is the central task of top managers at ORG after the MONEY ORG deal, senior executives said on DATE.
The company, which DATE took control of ORG, is in active discussions aimed at restructuring its troubled cable-television partnership with ORG, the executives said.
CARDINAL ORG executive said the talks with ORG are likely to quicken and could yield a deal within DATE.  
""We want to delever the company, lighten up on cable, and simplify the corporate capital structure,"" said CARDINAL executive, speaking on a promise of anonymity.
The executives echoed PERSON, founder of ORG and now vice chairman of the combined company as well as its biggest individual shareholder. He has said he wants ORG MONEY debt halved.
Partners since DATE, when regional phone group ORG bought PERCENT of most of ORG cable systems, its film studios and the ORG pay-TV service, the CARDINAL companies have recently been preoccupied with major acquisitions.  
Time Warner DATE completed its takeover of ORG, a deal unsuccessfully opposed in court by ORG. And ORG is expected to close DATE its MONEY acqusition of ORG, the ORDINAL-ranked GPE cable operator.
Time Warner now sees itself with the acquisition of ORG, producer of ORG, ORG and CARDINAL studios, as primarily a programming group, the executives said.
Capital-intensive cable operations are less important and ripe for partial divestment, the executives said. Investment capital can be better used outside cable, the executives said.  
""We look at the opportunities and, hey, we can't do everything,"" CARDINAL executive said.
ORG earlier reported very strong operational earnings from its cable operations, largely on rate increases, but the company has also committed to spending MONEY to improve its systems through DATE.
The executives declined to discuss possible terms of a ORG agreement but analysts have speculated PERSON might swap selected cable properties for ORG equity in ORG and the studios. A key question in such a deal would be how much debt would be taken off ORG books.  
Spin-off of properties is also possible, analysts have said. ORG is also said to be considering the sale of GPE, one of the studios owned by ORG.
The executives said a deal with ORG was very important but failure to reach one would not stop the debt-reduction campaign.
A little-noticed deal DATE, in which ORG swapped some cable properties for a minority interest in a joint venture with ORG and ORG, could be a model for other cable transactions, the executives said.
""The objective of deleveraging is larger than ORG. The objective of lightening up on cable is larger than ORG,"" CARDINAL of ORG executives said.
Shares of ORG closed up CARDINAL at DATE.
-- New York Newsdesk 212-859-1713",1
"The president of NORP state oil refiner ORG said on DATE the country planned to increase refining capacity and ethylene production to help keep up with rapid economic growth and fast rising energy demand.
""Within DATE DATE plan (DATE), we will boost our economic system and growth...According to the government, we have been designated a pillar industry in the country,"" said PERSON, president of ORG (PERSON).
PERSON was speaking at the beginning of a DATE exhibition in GPE featuring CARDINAL ORG subsidiaries, amongst them refiners, petrochemical plants, engineering companies and trade and investment arms.
PERSON outlined PERSON's expansion plans in CARDINAL phases.
By DATE, the company will have increased its refining capacity to over 200 million tonnes per year (QUANTITY per day  bpd ) while its ethylene production capacity would hit QUANTITY per year.
By DATE, refining capacity will hit MONEY per year (CARDINAL bpd) while ethylene production would reach QUANTITY, PERSON said.
PERSON's crude refining capacity is currently QUANTITY per year, with ethylene output at QUANTITY per year.
Fast economic growth is forecast to raise GPE's oil demand. Experts say refined oil product consumption will rise to CARDINAL bpd in DATE and CARDINAL bpd in DATE from CARDINAL bpd in DATE.
The world's ORDINAL largest oil producer, GPE became a net oil importer in DATE when brisk economic development outpaced domestic oil output, which is burdened by ageing oilfields and a lack of new discoveries.
While attempts are being made to locate new fields, GPE has also given a clear mandate for refineries, particularly those along the coast and in big cities, to expand their capacities and upgrade to produce cleaner, more environmentally friendly products.
There are also indications that primary oil refining expansion will be accompanied by upgrading secondary petrochemical plants.
""The code is now ""oil and chemical'. Based on experiences of the oil industry elsewhere, such an approach is more realistic, comprehensive,"" said a senior official with the GPE refinery, in the southeastern province of GPE.
GPE's biggest refinery, GPE in GPE, plans to increase its QUANTITY per year capacity to QUANTITY before DATE, a senior official told ORG.
Ethylene production, which has been expanded from QUANTITY per year to QUANTITY per year since DATE, will be increased to QUANTITY during the same period, she said.
In GPE, the QUANTITY per year refinery will be expanded to QUANTITY by DATE. Talks are also underway with foreign investors to expand capacity further to QUANTITY per year and build an ethylene plant of QUANTITY capacity, a GPE official said.
Fierce bidders for MONEY (MONEY) joint venture plan are ORG and ORG
Yangzi refinery in GPE in GPE plans to raise capacity to QUANTITY from QUANTITY per year, a senior refinery official said.
It signed a letter of intent with ORG in DATE to build an integrated petrochemical site. The CARDINAL joint venture, worth MONEY (MONEY), has CARDINAL plants, CARDINAL of which is a QUANTITY per year ethylene facility.
(US$MONEY = MONEY)
--Hong Kong newsroom (CARDINAL) DATE","- Supermarket chain ORG said DATE it will buy GPE, GPE PERSON ORG in a transaction valued at MONEY.
The CARDINAL companies had been in talks for DATE, but dropped those discussions in DATE. It was not immediately known when talks resumed.
Under the agreement, PERSON PERSON shareholders will receive $MONEY per share in cash. The companies also said ORG will refinance MONEY of Kash n' Karry debt.
Supermarket chains have been gobbling each other up rapidly in a wave of industrywide consolidation.
The deal came DATE after GPE-based grocery giant ORG offered MONEY for PERCENT of supermarket chain Vons Cos. PERSONthat it doesn't already own.
DATE, NORP group ORG bought GPE-based grocer ORGamp; Shop Cos. for MONEY.
Salisbury, N.C.-based ORG is a unit of NORP retailer PERSON.
ORG is CARDINAL of the CARDINAL largest GPE supermarket chains with CARDINAL stores in CARDINAL states. PERSON PERSON has CARDINAL food stores and other facilities in west central GPE.
Shares of both companies were halted for trading shortly before the market closed. Earlier, ORG shares were up MONEY to $MONEY on ORG and Kash n' Karry stock rose MONEY to $MONEY, also on Nasdaq.
""This agreement will enhance competition in west central GPE by putting the financial resources of ORG behind ORG PERSON name, enabling Kash n' Karry to position itself more effectively as a viable competitor with the area's major supermarket chains,"" said PERSON, chief executive officer of ORG.
ORG said it planned to invest MONEY to improve PERSON PERSON stores in DATE, with funding expected to come from Kash n' Karry cash flow from operations.
""While allowing us to continue operating our stores under ORG PERSON banner, it gives us access to the capital we need to accelerate our store remodeling programme and grow our business,"" said PERSON Karry Chairman PERSON.
The companies said the transaction will increase earnings per share for ORG and result in cost savings. They were not specific.
They also said the deal, which is expected to close by DATE, has been been approved by PERSON PERSON's board of directors. The board will also recommend that Kash n' PERSON shareholders support the merger.
Institutional investors who together own PERCENT of ORG PERSON common stock also support the deal, the companies said.
ORG said it has received a commitment from ORG to arrange and syndicate a new credit facility that will replace ORG current borrowing facility and provide financing for the deal.
ORG submitted a fairness opinion to Kash n' PERSON's board and is acting as financial advisor to Kash n' Karry in connection with the transaction.",0
"In a move to end ""shock at the dock,"" CARDINAL top cruise-ship lines agreed DATE to include all fees in the advertised price, and make booking a cruise as simple as buying an airline ticket.
Add-on fees MONEY a person will be included in advertised prices so consumers will not be surprised when the final tally is made.
""You won't have any more shock at the dock,"" GPE Attorney General PERSON said in an interview.
Separately negotiated deals with ORG's staff, including CARDINAL with industry-leader ORG, cover only lines operating out of GPE ports but should be felt all over GPE, ORG said.
GPE has CARDINAL cruise passengers DATE, or PERCENT of the NORP market, and shapes national television ad campaigns by an industry courting customers throughout the continent.
CARDINAL other lines, Princess and LOC, operating mainly out of GPE, GPE state and GPE, are also likely to adopt the full-price policies, PERSON said. Smaller lines are also likely to take up full-price advertising, he said.
""Combining port charges with the cruise fare will not change the total price paid by the consumer,"" said PERSON, marketing chief for ORG another of the lines adopting the full-price policy.
Butterworth said cruise lines had over DATE begun adding many operating costs to port fees, which most passengers believed were government taxes. The fees can add PERCENT to a basic trip price. Now, only minor fees such as head taxes and port pilot fees actually paid to governments can be added.
Some lines, PERSON said, were charging as port fees the salaries of cruise crew while their ships were docked and other operating costs in no way connected with any government.
""Anything could have been expensed in this way. It could be the food put on for the trip; it could be the water,"" Butterworth said.
Butterworth also said the lines -- including ORG, ORG, ORG and Majesty Cruise Line -- would pay GPE $MONEY as part of the agreements.
ORG said in a news release that the $MONEY in fees were neither fines nor penalties but payments to cover the costs of an DATE state investigation. The company also said its brochures had always included a notice that extra port fees were required of ORG passengers.
Carnival President PERSON said his company had been merely following an industry norm, in which port fees were added on to the advertised prices.
Advertising rates for ORG and ORG trips would be changed beginning DATE, the companies said.
Butterworth said the pricing changes may prove a boon to the cruise-ship industry, since passengers will not be startled by higher prices when they book. ""We want just CARDINAL price, just like the airlines,"" he said.
DATE, DATE cruise ship lines in ORG, a major cruise venue near GPE, agreed to stop calling passenger charges MONEY ""port fees"" because MONEY was being passed on to governments.
""Government gets blamed for enough already,"" Butterworth said.","Plans are being drawn up for new peace talks between the government and leftist rebels in a bid to end LOC longest-running conflict, a spokesman for GPE's ORG said on DATE.
PERSON, a member of the semi-autonomous body of former ministers and ORG representatives, said details would not be released for DATE, but that all sides in the DATE old war had been consulted about talks.
""ORG has carried out a consultation with different sectors about the basis for a negotiated peace. We are drawing up a document and will present that to the government and the armed groups before making it public,"" Uribe told NORP radio network.
Political analysts warn that the prospect of peace is slight. The armed forces said DATE they would step up their counterinsurgency campaign and NORP rebels have escalated their attacks DATE.
Spokesmen for the ORG, GPE's largest guerrilla army set up as a NORP group in DATE, were not available for comment on DATE. But in the latest copy of their magazine PERSON, FARC leader PERSON wrote: ""I reiterate the will that the (FARC) has always expressed to find a political solution to the social and armed conflict.""
He stressed any peace deal would have to resolve ""political, social and economic inequalities"" and not simply map out a timetable for the demobilization of rebel forces.
ORG (ELN), the ORDINAL largest rebel force founded by radical NORP priests in DATE, began tentative moves DATE toward NORP governmment-brokered peace talks with President PERSON administration.
Efforts broke down in DATE with the much-publicised arrest of PERSON, a NORP private eye who was acting as a go-between in the talks.
The last peace process between the NORP government and rebels collapsed without agreement in GPE in DATE. The ORG accused the authorities of trying to force the guerrillas to surrender unilaterally.
Unlike GPE's PRODUCT rebel group, which laid down its arms in DATE, neither the ORG nor the ELN have been defeated militarily.
The ORG still holds prisoner CARDINAL troops it captured in southern GPE DATE. In a statement on DATE, the ORG confirmed it was holding CARDINAL marines seized in an ambush in western GPE province in DATE. It said the men would be held with the other CARDINAL soldiers until terms for a handover were agreed with the government.",0
"ORG DATE became the ORDINAL ORG phone company to seek federal approval under the new telecommunications law to offer long-distance service from its regional calling area.
The GPE-based carrier asked ORG for permission to provide long-distance service to residents in GPE, CARDINAL of CARDINAL midwestern states in which the company now provides local service. GPE has CARDINAL customers in GPE.
Under DATE law, GPE and other ORG can offer long-distance service from within their local-calling regions once regulators are convinced the ORG have opened their local network to new rivals such as ORG and others.
The Bells can then provide customers the convenience of CARDINAL-stop shopping involving local and long-distance service.
""It's the single largest potential change that can occur quickly in the communications market,"" said analyst PERSON of ORG.
""If PERSON gets a yes, it's easy for them to gain customers."" The company has CARDINAL residential customers in GPE, GPE, GPE, GPE and GPE.
ORG Chairman PERSON said ORG's CARDINAL-page application ""opens a new chapter"" in the implementation of the landmark telecom law.
But the application is sure to face tough scrutiny at the agency and from other government regulators.
Long-distance giants ORG and ORG called on the ORG to reject the move, saying GPE has not yet opened its local phone market.
The ORG -- after consulting with ORG and GPE regulators as well as seeking public comment -- has DATE to decide whether ORG's entry is in the public interest.
In particular, the carrier must meet a detailed CARDINAL-point checklist showing it has opened its local network in GPE to new competitors.
""The NORP people have called for choice,"" said NORP Chief Executive PERSON. ""ORG responded DATE by passing a law that accelerates a competitive marketplace for all communications services. ORG is stepping forward to make this happen.""
AT&T, however, called ORG's bid ""clearly premature.""
""It's obvious that real local service competition does not yet exist in GPE's GPE territory,"" said ORG spokesman PERSON.
O'Connell accused NORP of trying to delay competition by ignoring orders from GPE regulators to open its local network. He pointed out that GPE's attorney general has intervened against NORP in a case pending before the state's supreme court.
""By any competitive or public interest standard, ORG's application to begin offering in-region long-distance service should be rejected,"" said PERSON, ORG's chief policy counsel.
The No. CARDINAL long-distance carrier said that ORG still controls PERCENT of GPE's local phone customers, and that CARDINAL companies offer local service in GPE.
None of the big CARDINAL long-distance carriers -- ORG, ORG and ORG -- now offer such service.
In any event, ORG's bid is expected to put pressure on other ORG to seek similar permission soon. ORG, which serves GPE, is considered a top candidate to seek approval in the near future.","ORG DATE declined a request by federal regulators and long-distance phone companies to reactivate landmark rules intended to pry open the nation's local phone monopolies to competition.
The denial means key terms and conditions for deregulating the MONEY local phone market will for now depend on the decisions of state regulators in the CARDINAL states -- instead of on uniform rules issued by ORG.
The denial was a defeat for the ORG and long-distance giants ORG  and ORG, which had sought to reinstate ORG rules suspended by a GPE appeals court pending a legal challenge to the rules. ORG Justice PERSON had declined to restore them.
It was a victory for the regional ""WORK_OF_ART"" companies, ORG  , other local carriers and state regulators who are seeking to overturn the rules in the appeals court in GPE. They argue that the ORG unfairly snatched from the states power to issue policies governing pricing and other matters.
The rules spell out how long-distance companies, cable-TV operators, utilities and others wanting to get into the local phone business can plug into local networks under the new federal telecommunications law.
""For all practical purposes the states have complete control over the prices new entrants will pay to share the existing telephone networks during the critical period when competition is supposed to begin in local telephone markets,"" ORG Chairman PERSON said after the high court's denial.
The appeals court temporarily suspended the rules DATE, saying the ORG probably erred when it drafted them.
On DATE, Justice PERSON declined a request by the ORG and its long-distance allies to lift the lower court's ""stay."" They separately asked Justices PERSON and PERSON to reconsider the request, and the justices referred the matter to the entire court.
""The stay prevents grossly arbitrary and distored pricing rules from going into effect and ruining the whole process,"" said ORG General PERSON. ""It does not delay the timetable set forth in LAW of DATE for the introduction of competition, but instead allows for a more level playing field.""
Oral arguments in the case are set for DATE. ORG Chairman PERSON conceded DATE it was unlikely the appeals court would decide in favour of the ORG, and he doubted that the rules would be put into effect for CARDINAL, if ever, while they were fought over in the courts.
ORG was encouraged, however, by the actions of state regulators arbitrating connection agreements between the ORG and their long-distance rivals.
He said key provisions of the arbitration decisions issued thus far were similar to the suspended ORG rules.
GPE, GPE, GPE, GPE and GPE have been among the states that have issued decisions that will lay the groundwork for arbitrated agreements between the ORG and ORG, ORG and No. CARDINAL long-distance company ORG
""There hasn't been any evidence that the states are going off and doing any wild and crazy stuff,"" said analyst PERSON of ORGamp; ORG.",1
"ORG stock jumped PERCENT DATE on expectations the company will emerge as a smaller but more profitable operation after it exits the computer modem business.
The GPE, Calif.-based company's stock gained after its announcement DATE that it plans to pull out of the highly competitive modem-chip business and focus instead on the fast-growing market for computer networking equipment.
The stock rose $MONEY to $MONEY in late trading on ORG.
""Certainly the company will be a much smaller company now, but it will be a more profitable business,"" said analyst PERSON of ORGamp; Co.
But analysts noted that ORG still has much painful work ahead of it, including cutting CARDINAL jobs from its work force, which currently has CARDINAL people, and building up the business of its ORG unit, which makes routing devices and chipsets for high-speed computer networks.
The company has announced plans to take a charge against earnings of MONEY to write down the value of assets and inventories and cover severance payments.
PERSON said the company likely would have difficulty selling its modem-chip business.
""Once you announce your intention to exit a business, it becomes a complete buyer's market,"" he said.
He said that while the company is focusing on the fastest-growing part of its business, the market for networking chips has begun to attract the attention of much-larger players such as ORG
""As the market develops the question is, are they able to make that transition to be a much larger company?"" Randall said.
Other analysts were more bullish, even though the company is expected to shrink to slightly CARDINAL its current size in sales.
""It's a positive strategic move,"" said PERSON of ORGamp; ORG. ""The modem business is a low-margin, commodity business,"" he said.
ORG's ORG unit generated MONEY of the company's MONEY in sales in DATE, compared with MONEY in sales of modem chips, ORG said. But the ORG unit is far more profitable, he said.
ORG's stock has fallen from a high of MONEY DATE as the computer chip sector has been battered by falling prices and concern about slowing demand.","ORG is expected to extend its role as a leading supplier of computer printers DATE by unveiling the ORDINAL of a family of devices designed to allow people to bypass the copy machine.
Industry sources familiar with details of the new models said they can be used instead of a copier to make multiple printouts of a document, posing a threaten to copy machine makers such as ORG and ORG
""This is the ORDINAL direct attack at the copier market,"" said CARDINAL of the sources, who declined to be identified. ""This is the announcement that is going to make ORG begin to sweat.""
Another of the sources said the initial adaption of the technology will likely be targeted for relatively modest printing jobs, CARDINAL or CARDINAL copies of a document, for example, rather than for CARDINAL of CARDINAL-page documents.
A spokesman for ORG was not immediately available for comment on the new product, which CARDINAL of the sources said could be unveiled DATE.
The new ""Mopier"" machine, as ORG has dubbed it internally, is expected to be based on the ORG 5Si family and to come with a stapler, a multiple-slot stacker and secure, password-protected ""mailboxes"" into which printouts of confidential documents can be placed.
In a related announcement DATE, ORG said it planned to triple production of toner cartridges used in its ORG 5Si family of network printers ""to alleviate a temporary shortage of the cartridges in GPE.""
Analysts said the move may have been partly motivated by the company's new multiple copy initiative, as cartridges for printers are an extremely profitable area of ORG's printer strategy, and will be needed to supply the new machines.
In fact, ORG said DATE its own research shows that pages formerly duplicated on copiers are increasingly being printed on HP printers already, resulting in a greater demand for the cartridges.
The mopier can be expected to have similar performance to the ORG 5Si printers, which can print CARDINAL pages a minute and cycle up to CARDINAL pages a month, the sources said.
""With these new methods of business printing, ORG estimates that customers are printing PERCENT more pages a month than with previous printers in the same class,"" said PERSON, marketing manager of ORG's ORG, in a statement.
ORG in DATE reported that the new HP ""mopier"" would be priced somewhere MONEY.",0
"PERSON, one of GPE's most unusual and fastest-growing drugs companies, said on DATE would be ""DATE"" for proving to investors that its unique growth strategy was paying off.
ORG chairman and chief executive officer PERSON, the NORP entrepreneur behind the creation of FAC, promised that by then there would be ""a lot of products filed"" for approval, plus news on product launches and collaborations with drug giants.  
""DATE is DATE. I can't wait for that, because it seems like a lifetime away,"" he said in a telephone interview.
Earlier SkyePharma, which has the distinction of being formed out of former tent hire company ORG; ORG, announced a narrowing of pretax losses in DATE to CARDINAL stg from CARDINAL DATE.
The company is being built out of CARDINAL key acquisitions, ORG, which holds a portfolio of generic drugs to be launched in the GPE as patents expire, and ORG of GPE, which specialises in controlled-release drug delivery.  
The GPE generic drug market is expected to expand rapidly in DATE, with new versions of tried and tested drugs much easier and cheaper to get on the market than entirely new products.
PERSON said ORG, which is PERCENT owned by its directors, has never been ""an investment for short-term punters."" The group's share price reached an all-time high of MONEY in DATE and fell to a low for DATE of MONEY in DATE. It was trading at MONEY, up CARDINAL, TIME.  
""There is a very mature base of investors,"" he said, adding he hoped to give them a near-term ""steer"" about the company with a flow of news about the progress of products. ORG said it had CARDINAL drugs in GPE III trials, with CARDINAL more about to go in ""in the near future."" Clinical trials on a non-CFC asthma inhaler developed by PERSON are due to start DATE.
PERSON said these developments were a ""signpost"", adding that current sales of drugs totalled MONEY DATE. The company is reformulating its drugs with ORG PERSON technology which it believes makes them more effective and more easily absorbed by the body.  
The GPE will dominate expansion plans over DATE, with the workforce of ORG's Brightstone marketing subsidiary gradually rising to CARDINAL from CARDINAL. Brightstone is to target the GPE's rapidly-expanding managed healthcare sector.
SkyePharma had net cash of CARDINAL stg at DATE, and ORG said it had no plans to return to the market for cash, unless it saw the opportunity of adding new technology to its existing portfolio.
PERSON +44 CARDINAL 7717","New evidence about NORP PERSON anti-cancer treatment ORG DATE will provide important clues about its potential as a blockbuster product, analysts said on DATE.
NORP Biotech is using a meeting of ORG (ESMO) in GPE to make CARDINAL presentations, including ORG's effects in ovarian, colo-rectal, pancreatic and gastric cancer. It will issue a general update on DATE TIME.
The ORG-based group has become the bellwether for the increasingly crowded biotech field in the GPE, with sentiment towards Marimastat having a disproportionate impact on the sector.
Millions of pounds of investors' money has been placed on the bet that ORG will turn out to be LOC's ORDINAL big-selling biotech product, with forecasts for DATE sales ranging from MONEY to MONEY.
DATE's data comes from patients who continued to use the drug beyond the period necessary for completion of PERSON clinical trials. The company said this meant there would be a further DATE of extra information.
ORG analyst Erling Refsum said he hoped to see the ORDINAL hard evidence that patients were living longer as a result of taking ORG. Refsum said the surrogate marker data provided so far ""is like the indicator board at the train station rather than the train actually coming.""
In a note on the trials ORG analyst PERSON, who will attend the ORG meeting, said it might be possible to glean indications of the effect of ORG on patient survival in ovarian and pancreatic cancer.
There will also be interest in ORG's impact on gastric cancer, where little information has so far been available. And analysts are keen to see how serious the side effects caused by the drug are. The main problem reported so far is joint pain.
GPE's Refsum said the results are ""not definitive as to whether it works or not, but it is another indication as to whether it will sell or won't sell, and that is the bottom line."" ORG's Smith added that the results ""won't prove ORG's efficacy but will raise the probabilities.""
NORP Biotech will announce late-stage data on another key product, pancreatitis drug Lexipafant, on DATE.
Smith said that favourable news on both drugs could lift the group's share price to MONEY by DATE from CARDINAL at DATE's close. But Refsum is more sceptical about the potential impact of ORG and said MONEY is ""reasonable value"" for the shares.
A NORP Biotech spokeswoman said PERSON trials are likely to take DATE to complete, meaning that the ORDINAL results would not be available until DATE at the earliest. But she said NORP Biotech would probably make academic presentations at conferences like ESMO from time to time to keep the market up to date.
Late stage trials on pancreatic cancer started in DATE, and trials in small-cell lung cancer, ovarian cancer, gastric cancer and a form of brain cancer are being set up, she added.",1
"Major mining companies may have ORDINAL thoughts about teaming up with ORG in its huge NORP gold discovery because of ORG new strategic alliance, analysts said.
PERSON announced DATE an alliance with PT Panutan Duta, an NORP company controlled by ORG, the son of President PERSON.
Part of the deal forms a support services company to be owned PERCENT by the ORG group and PERCENT by NORP.  
""There will be certain companies that look at this and shake their heads,"" said mining analyst PERSON of Yorkton Securities.
The support services company will provide utilities, petroleum products and limestone for the GPE gold discovery on the island of GPE, ORG said.
The new company could have control over major parts of operating and capital costs, said ORG.
""If these things aren't done at normal world market prices, it could add on unwarranted capital and operating costs,"" he said in a telephone interview from GPE.  
Any major mining company considering a bid for ORG would have to take into account the potential extra costs and the loss of control over supplies that the new alliance brings, he said.
PERSON is in the middle of a search for a major mining company to act as its partner to help develop the Busang discovery.
""Certain major companies will not like this. It ties them to a supplier, and no one likes that,"" Leishman said.  
NORP gold giants PERSON and ORG, both said they needed more details about the supply company before they could judge whether it would be a factor in bidding for Busang.
""Does this change things? Unless you know the details of the agreements, you don't know if this changes things or not,"" PERSON spokesman PERSON said in an interview. ""It could and it could not.""
Bre-X would not return repeated telephone calls DATE to ask for details of the NORP agreement.  
Analyst PERSON at ORG said the agreement is vital to ORG progress.
""I think it's something they should have done DATE,"" she said in an interview. ""You need a local company that's on side. You need local connections.""
Bre-X stock shot up C$MONEY to C$MONEY on DATE after the alliance was announced, but has slid back to C$MONEY since then as investors began to realize that the NORP deal does not solve all ORG problems, analysts said.
PERSON has been plagued by a dispute over the ownership of GPE. CARDINAL of its NORP partners is claiming PERCENT of the discovery and has said he will not back down despite ORG alliance with PERSON's son.
The NORP government has vowed not to issue essential contracts of work until ORG sorts out its problems. The alliance with NORP is also contingent on ORG receiving the permits.
--Reuters GPE Bureau CARDINAL CARDINAL","No final deal was in sight DATE for ORG and ORG, which are in the midst of forging a deal on CARDINAL of the world's biggest gold deposits -- GPE's Busang.
As a DATE deadline slid by, PERSON and ORG said they were still trying to hammer out several issues, leaving the market to speculate about the status of negotiations.
A few issues remain to be solved, and ORG will have more news on the negotiations ""shortly,"" Chief Executive PERSON said in an interview from GPE.
He said the main issues that stand in the way of a full agreement with ORG are ""regulatory"" but maintained he was prevented by a confidentiality agreement to give details.
""We need certain additional comfort in any agreement that would satisfy the regulatory authorities and our shareholders,"" he said.
The NORP government directed ORG to form a joint venture with ORG by DATE, with PERSON getting PERCENT of ORG stake in the rich gold discovery and ORG keeping PERCENT. The companies were invited to consider giving the NORP government PERCENT of the rich find.
As the clocked ticked, PERSON issued a statement saying no new deadline had been set by ORG. It said it expected ORG to clarify its stand on the outstanding issues ""in due course.""
The direction of negotiations is in the hands of the NORP government, PERSON said.
""We are waiting on the answers we get from the Minister of Mines,"" he said.
Sources close to the talks said NORP mining officials had left GPE and would not be back until DATE.
""I think both sides are probably worried about the so-called deadline, which has come and gone,"" said gold analyst PERSON with ORG ""It's back in the lap of the NORP.""
In GPE, a senior NORP mines official said the government of President PERSON would explore other possibilities to develop Busang if the CARDINAL companies fail to clinch a deal.
""If they cannot reach an agreement, the government will take the necessary and appropriate action ... to expedite the development of GPE's resouces,"" PERSON, secretary-general of ORG, told a news conference in GPE.
""What the action will be ... I have to get back to the government. This is not my playground,"" he added.
Meanwhile, investors pushed up ORG stock C$MONEY to close at C$MONEY ($MONEY) in heavy trading in GPE DATE, while ORG rose MONEY ($MONEY).
""People think there's an agreement that will come out sooner rather than later,"" said gold analyst PERSON of ORG in GPE.
But she noted that the uncertainty surrounding the negotiations was preventing ORG stock from rising to meet the level of rumoured offers of MONEY ($MONEY) a share from ORG.
""We're actually hearing that (the deal) is done and they're just dotting the i's and crossing the t's,"" Gignac said. ""Everything has been set. We just don't know the details.""
But a source close to the negotiations said he understood that the CARDINAL companies did not have a deal and were trying to get a deadline extension from the NORP government.
The latest deadline is the ORDINAL the CARDINAL companies missed. They let a deadline at DATE November slip by too, sources said.
Possible stumbling blocks in the talks include price, how to pay for the deal and a series of threatened lawsuits over ORG claims, analysts said.
Waiting to pounce on the deposit if the NORP government does open the door to outside bidding is another NORP gold giant -- ORG, which seemed to be positioning itself in case the PERSON, PERSON talks fail.
""I don't think DATE's deadline had any great significance,"" ORG spokesman PERSON said in GPE, GPE. He added that the company still hoped to be allowed to form a partnership with ORG to develop Busang.
""We're not discouraged. It's going to be a long process,"" he said.
ORG and ORG also expressed an interest in GPE, which is located deep in the jungle in GPE on the island of GPE.",1
"GPE's major commercial banks on DATE said they had returned to the black in DATE of DATE after many of them posted losses in DATE.
Analysts said that aggressive problem loan write-offs in DATE which ended in DATE led to the losses after the CARDINAL banks posted record profits in DATE of that business year.
They added the results were close to the previous earnings' forecasts made by the biggest banks, showing that the banks are on schedule in steadily writing off their problem loans.
""The earnings results in DATE were extraordinarily good...Interest rates were falling and anybody could earn profits if they sold bonds,"" said PERSON, an analyst at ORG.
""While operating profits have declined from DATE, the business environment is not bad due to the low interest rates, and they will probably post handsome profits for DATE,"" he said.
Many of the big banks had losses in DATE due to the massive disposal of problem loans, including those to failed ""jusen"" mortgage firms, he said.
The CARDINAL banks said that combined operating profits -- profits from the banking business before loan loss provisions -- totalled MONEY (MONEY) in DATE, down from MONEY (MONEY) DATE.
Combined parent current profits -- pre-tax profit including losses and gains on investments -- totalled MONEY (MONEY) in DATE, down from MONEY (MONEY) DATE.
ORG said the CARDINAL banks had projected MONEY (MONEY) in combined operating profits and MONEY (MONEY) in combined parent current profits.
Some of the bankers, however, remained cautious.
PERSON, senior managing director at ORG, told reporters that a narrowing in the loan spread, which was a main reason for the decline in operating profits, was likely to continue in DATE.
""I expect the business environment will not be so good, as the current interest rate situation is not expected to change in DATE,"" PERSON said.
The loan spread is the spread between the rates paid on deposits and for other fund-raising, and the rates charged on lending. GPE's interest rates fell to record low levels in DATE and have remained there.
Of the CARDINAL banks,  PERSON, PERSON, Fuji, ORG, GPE, DATE and ORG posted current losses in CARDINAL.
The CARDINAL banks -- including ORG and ORG which merged into ORG-Mitsubishi on DATE, ORG, and ORG -- disposed of MONEY (MONEY) worth of problem loans in CARDINAL.
Bankers said that they would continue to dispose of problem loans in the latter CARDINAL of CARDINAL after doing so in DATE by setting aside loan-loss provisions and selling them to a joint problem loan liquidation body.
For instance, PERSON, senior managing director at ORG, said: ""We disposed of MONEY (MONEY) of problem loans in DATE...We plan to dispose of a total of MONEY (MONEY) in DATE)."" (MONEY)","CARDINAL employees of NORP consumer electronics company ORG held protest marches in GPE and other towns on DATE against the planned sale of the group to GPE ORG.
Workers of the state-owned company came in busloads to GPE to demonstrate in front of the group's headquarters in the centre of the capital before heading to the parliament buildings. There were also protest marches in GPE, GPE, GPE and Grenoble.
Thomson staff are angry that they have not been involved in the decision and say they do not understand the economic logic behind it.
""The sale of ORG to the NORP group ORG is unacceptable,"" said a protesting ORG worker in GPE, the capital of the western PERSON region where police said CARDINAL people marched.
""This company is running fine and makes top quality products, we do not want to make low quality products,"" he added.
In Grenoble in the east about a thousand people marched, some shouting ""ORG, mechant loup"" (ORG, big bad wolf).
Industry Minister PERSON told parliament during question time that privatisation was the only way to secure the future of ORG.
""This company is in a situation of a serious financial disaster,"" he said about the loss-making and indebted NORP state-owned group.
Workers, however, maintain the company is fundamentally profitable.
""ORG is sold for one franc and the buyers will hit a MONEY jackpot,"" said a slogan carried in the Rennes march.
The NORP government said DATE it planned the sell the ORG group to ORG for one franc after an MONEY (MONEY) capital injection.
Lagardere will keep ORG PERCENT stake in defence electronics group ORG and sell television set and video recorder maker ORG to ORG, also for one franc.
GPE's ORG and ORG still have to approve the deal.
""What we want is a halt to the privatisation procedure and the start of serious discussions about the future of the electronics industry in this country,"" a labour union spokesman told ORG television.
The NORP-led ORG wants to see a public sale of ORG company on the market, with ORG taking a big stake.
Soon-hoon Bae, chairman of ORG, told a NORP parliamentary commission on DATE that the NORP group could float part of ORG on the share market when it had returned to profit.
He said ORG planned to invest MONEY in ORG, of which CARDINAL would be invested in DATE in GPE.",0
"The president of ORG held out little hope on DATE for a quick end to a DATE strike against ORG and said his counterparts at ORG are having similar problems reaching a labor pact with the automaker.
Basil ""Buzz"" Hargrove told reporters in a conference call that ORG is trying to resist the GPE pattern agreement set at ORG and ORG, which guarantee employment levels at PERCENT of the companies' current TIME workforces.  
The provision is aimed at curbing the automakers' ability to shift work to outside suppliers, known as outsourcing, which also is the major sticking point in the ORG talks.
""I'd be quite happy if PERSON were to get a settlement,"" Hargrove said of ORG President PERSON. ""He's having the same problem -- getting the pattern agreement with ORG.""
He said ORG has ""agreed to the principle of limiting the outsourcing"" in the GPE"", but doesn't want to meet the PERCENT employment guarantee and wants to exclude parts plants it has on sale from the guarantee.  
Talks between the ORG and ORG have been low key during the NORP strike. Negotiators have met only during TIME and do not plan to meet over DATE.
ORG spokesman PERSON declined to characterize progress of the discussions, only to say bargainers were ""down to the larger issues.""
But ORG has not asked ORG to delay a GPE settlement with ORG during the NORP strike.
The ORG launched an escalating strike on DATE and all the union's CARDINAL ORG workers were on the picket line by TIME on DATE.  
The ORG has CARDINAL GPE TIME workers at ORG and, so far, CARDINAL have been idled at an engine plant and a transmission plant.
The strike may affect some of ORG's GPE plants DATE, although the automaker canceled most overtime work DATE.
Hargrove said he saw no progress in talks with the automaker.
""I don't want to kid anybody,"" he said. ""It hasn't been very productive DATE, I do not believe it will be productive DATE.""
Hargrove wanted the NORP walkout to have as little effect on ORG's GPE production as possible so as to protect ORG workers and the profit-sharing checks they expect to receive DATE. Prolonged shutdowns in the GPE due to lack of NORP-made parts could seriously hurt ORG's profits and reduce profit sharing for employees.","Strong demand for light trucks and relatively few production headaches will boost the Big Three GPE automakers' combined profits to MONEY for DATE, exceeding DATE results by a healthy margin, analysts said DATE.
DATE is traditionally the weakest of DATE with DATE vacations and model changeovers, but ORG and ORG, are expected to post strong gains from minivan and truck output.
ORG earnings were held back by a significant increase in incentives, analysts said.
In DATE, the CARDINAL automakers earned MONEY.
""It'll be a good quarter overall for the Big Three,"" said ORG auto analyst PERSON. ""The issue that remains is how long the strike in GPE against ORG will last.""
ORG, the nation's largest automaker, on DATE is expected to report DATE net income of MONEY, or $MONEY a share, according to the ORG financial information service.
The results include an after-tax gain of MONEY, or MONEY a share from the reversal of the automaker's decision to close its GPE, GPE, plant and build a new PRODUCT model there at DATE.
In DATE, ORG earned MONEY, or MONEY a share. DATE results also included MONEY in earnings from ORG, the computer services unit that the automaker spun off in DATE after DATE of ownership.
ORG auto analyst PERSON said ORG's worldwide car and truck production rose PERCENT in DATE. But a heavier mix of less-expensive vehicles and a $MONEY increase in incentives per vehicle squeezed ORG's profit margins, resulting in a small pretax loss in LOC during the period.
On an operating basis, ORG's DATE profits, are expected to increase PERCENT to MONEY, or MONEY a share, from MONEY, or MONEY, DATE, marking the biggest rebound of the Big Three. ORG results are scheduled for release on DATE.
The strength at GPE's No. CARDINAL automaker largely rides on the fact that it is not paying the enormous product launch costs for the PRODUCT sedan and PRODUCT pickup truck that dragged down DATE results.
ORG also is beginning to reap profits from FAC, and the ORG full-size sport utility vehicle, which have brightened the automaker's future outlook.
""We think ORG's new products will enable it to gain an increased share going forward, and as a result ORG's earnings momentum should continue,"" PERSON said.
ORG's profits would be even better had it not been for losses in GPE and GPE that the automaker warned analysts about in DATE.
ORG is scambling to put its Fiesta small car into production in GPE following the breakup of the company's GPE joint venture with ORG in DATE.
ORG's profits for the DATE period, scheduled for release DATE, are expected to increase PERCENT to MONEY, or MONEY a share, from MONEY, or MONEY, DATE.
No. CARDINAL ORG also experienced launch problems in DATE period in its all-important minivan product lines.
DATE, the company is churning out minivans and has raised its share of the GPE vehicle market to record levels. The launch glitches have not returned, as the company's new ORG compact pickup truck is proceeding ahead of schedule, analysts said.
""ORG has everthing going for it right now and it should be reflected in the earnings,"" said ORGamp; Co. auto analyst PERSON, who added that he would not be surprised if ORG's results exceeded Wall Street estimates.",1
"The merger of ORG and ORG will spur still more mega-mergers among GPE carriers, seeking safety in size as markets coalesce.
""It's already going pretty fast. We have had CARDINAL deals of MONEY since DATE. But we are going to get more,"" said analyst PERSON of ORG.
PERSON, ORG, ORG and ORG will all have to re-examine their market strategies and see where they may be vulnerable.  
There are plenty of vital assets, like state-of-the art nationwide networks, in the hands of carriers who don't have enough money to make the most of them, analysts say.
""ORG  is still definitely on the block,"" said PERSON, an analyst at consultancy ORG.
ORG is in the process of buying business network provider ORG in a MONEY deal. ORG had barely finished buying Internet access provider ORG when the ORG deal was announced.  
""Conventional wisdowm says ORG or ORG ) would buy ORG, but a dark horse would be Cable and Wireless Plc,"" PERSON said. C&W on DATE said it would build a transatlantic cable system with ORG.
ORG was a rumored bidder for ORG, while ORG and ORG agreed to merge in DATE. None of them owns a national long distance network.
ORG already is offering long distance calling, and the other CARDINAL plan to, once the legal impasse over GPE telecommunications reform is solved.  
With cable TV networks integrating with telephony, ORG is a candidate, some say.
""Another company ripe for acquisition is ORG. They don't have enough cash to do what they want to do,"" said PERSON.
He suggested that ORG or ORG would want to buy ORG. ORG is already a partner with ORG and CARDINAL other cable firms in a national venture called ORG to bundle local and long distance telephone, wireless and cable TV.
PERSON, as the combined ORG/BT will be called, will be able to assert its strength fairly rapidly after the deal closes, expected in DATE.  
""It clearly ups the competitive ante for the whole industry,"" said analyst PERSON of ORG.
PERSON will push harder into local markets, both through the ORG Metro venture it already has in major GPE cities and through resale of regional ORG circuits.
""If ORG is more prepared to take early losses than ORG has, you could see a renewed emphasis on local markets,"" Woodlief said, adding he expected to see marketing pushed harder.
AT&T will have to concentrate hard now it is looking eye-to-eye at a rival its own size.
""In CARDINAL company (PERSON) you have the resources of an ORG and the marketing savvy of an ORG,"" said consultant PERSON of ORG.
""DATE out ORG could take the top spot from ORG domestically, which would have been unthinkable just one DATE. DATE out you won't recognize this industry,"" said PERSON.","ORG and ORG, the CARDINAL biggest telecommunications companies in the LOC, DATE reported double-digit profit increases in DATE and said they expect more to come.
Sprint, a long-distance and local carrier based in GPE, GPE, said net income rose PERCENT to MONEY from MONEY in DATE. Revenues grew PERCENT to MONEY from MONEY.
Earnings per share fell to MONEY from MONEY, mainly because of a PERCENT stake taken in ORG by ORG and GPE's ORG which lifted the number of shares outstanding by PERCENT.
GPE, based in GPE, said net income for DATE edged MONEY, or MONEY a share, from MONEY, or MONEY a share.
Both companies' earnings were broadly in line with analysts' consensus forecasts carried on ORG, which tracks estimates.
""We currently expect to once again report double-digit volume and revenue growth ... in DATE,"" ORG Chief Financial Officer PERSON said.
Ameritech, whose core business is local phone service in the LOC, said revenues rose PERCENT to MONEY from MONEY.
""Each of our CARDINAL strategies -- growing our core business, investing in high-growth initiatives and geographic expansion -- plays an integral role in our ability to create sustainable double-digit growth,"" said NORP Chief Executive PERSON.
Analysts were impressed by ORG's strong showing in long-distance service, an area where industry giant ORG recently slipped up and warned of lower profits.
""Clearly this is going to be the strongest growth of the big three (ORG, ORG and ORG) in long-distance volume and revenues,"" said analyst PERSON of brokers ORG.
However, some were concerned that the cost of investments such as ORG PCS, a wireless venture, were eating up profit growth.
""There is a CARDINAL sided story here: the businesses are growing very well, but there is all this dilution from new ventures,"" said analyst PERSON at ORG.
ORG PCS is a wireless ORG (ORG) national network being built for tiny new mobile phones designed to have better battery life and building penetration than existing cellular services, and extra features including paging.
ORG owns PERCENT of ORG, ORG owns PERCENT, and ORG and ORG each own PERCENT.
PCS services are already operating in CARDINAL metropolitan area, GPE, and ORG expects to launch CARDINAL more in DATE and to be in CARDINAL by DATE.
The other venture is ORG, an international firm designed as a carrier of services for other telecommunications companies and as CARDINAL-stop shop for multinational corporations.
It is CARDINAL owned by ORG, and a quarter each by ORG and soon-to-be privatised Deutsche Telekom.
For DATE, ORG's net income grew PERCENT to MONEY, or $MONEY a share, from MONEY, or $MONEY a share. Sales expanded to MONEY from MONEY.
ORG said DATE net income slipped PERCENT to MONEY, or $MONEY a share, from MONEY, $MONEY a share, despite a PERCENT growth in revenues to MONEY from MONEY.
The company said international investments drove CARDINAL of its earnings growth in DATE, led by investments in ORG of GPE, GPE of GPE and ORG.
In DATE telephone lines increased by PERCENT to CARDINAL, while cellular customers increased by PERCENT to CARDINAL.
PERSON's shares fell MONEY to $MONEY while ORG added MONEY to $MONEY, both on ORG.",1
"GPE's B share markets in both GPE and GPE slid on DATE on profit-taking following huge increases in DATE and reports of tighter controls in GPE, analysts said.
The GPE B share index fell CARDINAL points or PERCENT to CARDINAL on DATE, with volume heavy at CARDINAL shares worth MONEY.
GPE's B index lost CARDINAL points or PERCENT to close at CARDINAL largely on talk of tighter control over local investors trading B shares, traders said.
""It's a technical correction,"" said a foreign brokerage analyst in GPE. ""GPE and GPE have risen substantially over DATE, so it's a natural move by investors to take profits.""
""DATE's loss was a technical correction partly sparked by a fall on the GPE market,"" said a trader. ""The correction is likely to continue for the rest of DATE. But market sentiment is good and the index will recover DATE.""
GPE securities authorities have warned brokerages in the city not to allow local investors to buy B shares unless the money comes from outside the country, an official of ORG (ORG) said on DATE.
A senior official at the ORG said the notice had been released at the urging of ORG under ORG and ORG.
""The inflow of fresh money into the market will definitely slow with the implementation of the policy, but many NORP can still enter the market by some means or other,"" a broker said.
Brokers in GPE said they did not know of any such notice being distributed to brokers in GPE. Officials of the central bank and the national regulator in GPE declined to comment.
""We've heard such reports (about crackdowns) from GPE from time to time,"" said the GPE-based foreign analyst. ""Whenever such reports come out, the B shares go down but after a while, speculation resumes again.""
In GPE, all CARDINAL B shares traded, with CARDINAL down, CARDINAL flat and CARDINAL up. Cheap stocks with poor results led the falls after speculative jumps in DATE, brokers said.
""Technical charts indicate the market has entered a correction phase and the index is likely to test the CARDINAL-point support level,"" CARDINAL broker said.
""The market trend mainly depends on the attitude of the securities authorities,"" he added.
GPE GPE was the biggest loser, plunging $MONEY or PERCENT to $MONEY, on volume of CARDINAL shares.
ORG followed, tumbling $MONEY or PERCENT to $MONEY, on volume of CARDINAL shares. ORG traded the most on institutional liquidation, down $MONEY or PERCENT to $MONEY, on volume of CARDINAL shares.
The ORG share index rallied after falls on DATE, but the market was still in a mood of consolidation amid uncertainty over its direction, brokers said.
The index rose CARDINAL points or PERCENT to CARDINAL points, on volume of CARDINAL shares worth MONEY (MONEY). The ORG CARDINAL blue-chip index jumped CARDINAL points or PERCENT to CARDINAL points.
(MONEY)","ORG DATE rebuffed a request by ORG to allow GPE banks to collect data about borrowers as part of an effort to discourage racial discrimination in lending.
The unanimous decision put the central bank's board in the unusual position of being at the center of a national debate about how best to discourage discrimination.
On the one side: those who see the collection of data on race, gender, age, religion and other charecteristics as a way to ferret out discrimination. On the other: opponents who view such collection as discriminatory on its face.
Backed by banking regulators at ORG, ORG urged the ORG to change a regulation that prohibits banks from collecting such data except in the case of mortgage lending.
The department argued that the lack of data was hindering its ability to evaluate charges of racial discrimination in lending to small businesses.
In an unanimous decision, the central bank's board voted against changing ORG Regulation B, saying it might lack the authority to act without new legislation from ORG.
""The issue ... is not some technical matter of law or economics,"" ORG Governor PERSON said.
""Rather, it is at the center of a heartfelt and ongoing debate in GPE about the direction of public policy with respect to individual characteristics,"" he added.
The regulation, which was established in DATE, was designed to discourage discrimination by race, gender and age by prohibiting banks from collecting such data from borrowers.
ORG Governor PERSON described the proposed change in the regulation as ""social policy of the most profound sort"" and said it ""provides no answer to the social conundrum that's before us.""
That is not the way ORG sees it. In a letter to ORG Chairman PERSON DATE, Associate Attorney General PERSON said changes in the regulation would help combat discrimination.
""Allowing credit providers to collect certain basic data seems to us to be a useful step toward getting a better handle on the extent of this problem,"" he said.
Existing studies, though limited, ""do appear to provide some support for the widespread view ... that minority-owned businesses face unusually difficult barriers in obtaining this type of credit,"" PERSON added.
Creditors and their trade associations had opposed the regulation change, which was ORDINAL released for comment by the ORG in DATE.",0
"A top executive at ORG said DATE he was leaving the world's biggest personal computer maker and joining an Internet startup, giving credibility to the startup and setting in motion a realignment of ORG's sales managers.
The executive, PERSON, is leaving a position where he was in charge of ORG's MONEY NORP computer business for a job at a DATE company with the high-tech name of pcOrder.com
At pcOrder.com, GPE, DATE, will fill the as-yet unfilled positions of chairman and chief executive officer and have a salary of $MONEY a year, plus stock options.
His move from an executive suite at a WORK_OF_ART company to a technology startup mirrors that of several other executives over DATE, notably, the departure of PERSON from ORG DATE.
Cooley's move provides instant credibility to pcOrder.com, which provides a marketplace on the Internet for buying and selling personal computers and related equipment.
Cooley's retirement had been rumoured in the industry for DATE, and ORG announced that PERSON, formerly president of ORG and president of ORG, is replacing GPE.
""PERSON's plan to retire has been in discussion for awhile and there were some rumours flying,"" PERSON, president and CEO of ORG, said in an interview. ""The time has come and obviously as you can see the succession is already in place ... PERSON has been a great leader.""
At the same time, ORG created a new sales infrastructure, hiring PERSON, a ORG executive, for a newly-created position of general manager, worldwide sales. All the heads of ORG's CARDINAL geographical sales regions -- LOC, LOC, LOC and LOC, GPE, LOC and LOC -- will report to him.
Previously, these regions all reported directly to ORG. But as ORG has quickly grown to an MONEY company in DATE, ORG said he needs another executive to stay in touch with the day-to-DATE activities of its worldwide sales and support organisation.
""CARDINAL people have been reporting to me up until TIME when we announced this change,"" ORG said. ""That is a huge top management organisation. As the company grows, my tasks change.""
ORG has grown from its origins as CARDINAL of the ORDINAL companies to successfully clone the ORG PC in DATE to become the leading PC maker in the world. Cooley is known for his strong relationships with the PC sales channel and his role in building ORG's massive distribution.
""My feelings in joining pcOrder are similar to those I had in joining ORG DATE,"" PERSON said in a statement. ""Back then, I saw the irrefutable logic of the PC as a new paradigm in computing. DATE, I believe pcOrder's technology and vision represent an irrefutable value proposition.""
Before joining ORG in DATE, GPE held several sales and marketing positions at ORG, where he worked for DATE.
""Getting Cooley is really a coup for pcOrder,"" said PERSON, a ORG analyst, adding that GPE's connections in PC distrubution will give pcOrder more credibility as it builds its system. GPE's acceptance of $MONEY a year for salary, plus stock options, is also a ""big bet on the company's upside (potential),"" PERSON said.
pcOrder for now is still private, but the company is contemplating a public offering eventually.
""We do not have a set plan or a set timetable, but we are seriously considering it,"" said founder and President PERSON. PERSON will continue as president of pcOrder. The post of chairman and CEO had been vacant since the start-up was founded in DATE.
pcOrder.com is a marketplace on the Internet, where PC makers, components makers and distributors list information and receive orders.
Currently, sales representatives and customers user pcOrder to configure build-to-order PCs, compare prices, and place orders over the Internet. The system contains information on CARDINAL products in the PC industry from CARDINAL manufacturers.","ORG DATE reported a DATE profit that came in a shade better than Wall Street had expected, boosted by strong sales of personal computers and services.
The world's largest computer maker said net earnings were MONEY, or $MONEY a share, for DATE, compared with a loss of MONEY, or MONEY a share, in DATE.
Excluding a CARDINAL-time charge of MONEY related to its ORG acquisition from DATE, ORG's earnings were MONEY in DATE.
Sales grew PERCENT to MONEY from MONEY on the strength of PCs, minicomputers and computer services, ORG said. As expected, sales of mainframe computers declined.
Wall Street took ORG shares for a rollercoast ride after the report. They fell initially, then rallied on comments by the chief financial officer, and closed a fraction higher.
The TIME rally took ORG to a new high for DATE of $MONEY. The stock closed at $MONEY, up MONEY.
The rally followed remarks by Chief Financial Officer PERSON, who said in a meeting with analysts that he was ""very comfortable"" with the computer giant's prospects for the rest of DATE.
""I feel very good about the quarter and very good DATE,"" PERSON said.
But analysts still were concerned about company warnings that currency exchange rates, low prices for memory chips and higher-than-expected restructuring costs would hurt DATE results.
""There were some cautionary comments about DATE,"" said PERSON, a ORG analyst who was among several who lowered DATE profit estimates.
Analysts said they generally were pleased with ORG's ongoing cost-cutting, its successful transition to new products in all its hardware areas and its investments in its growth. Revenue growth was also better than expected.
""I think the most impressive was the revenue growth,"" said PERSON, an analyst with PERSON.
While mainframe computers no longer generate sales growth for ORG, N.Y.-based ORG, they remain one of the company's important profit centres.
PERSON told analysts that more of ORG's mainframes sales were coming through its computer services business, and that ORG will not see the full impact of sales in DATE for its new machines.
""If you sell a mainframe for $MONEY and you lease it or it's on a services contract ... rather than $MONEY at once, you have $MONEY a quarter,"" PERSON said in an interview, citing an example.
The company said revenues were higher in LOC, LOC and LOC but were flat in LOC. Revenue at its services division grew PERCENT to MONEY, ORG said.
Total hardware sales rose PERCENT to MONEY. PC sales, AS/400 minicomputers, and storage systems were up, while RS/6000 work stations, mainframes, and semiconductors fell.
ORG said pricing pressures hurt its semiconductor business.
Software revenues were off PERCENT to MONEY, largely due to a decline in host-based software, which runs on mainframes. Distributed software revenues grew significantly from the DATE period. Maintenance revenues fell PERCENT to MONEY.",1
"GPE's diamonds could face a rocky future with tax officials seeking a bigger cut from rough gem exports, but industry sources said on DATE they hoped a deal with GPE ORG would proceed.
In the latest shock to hit the NORP diamond sector and relations with ORG, the prosecutor general's office on DATE accused ORG (ARS), GPE's largest diamond producer, of financial irregularities.
""Maybe it will affect the (ORG) agreement and maybe it won't -- my personal opinion is that it won't and an agreement will soon be signed,"" said PERSON, ORDINAL deputy director of ORG's ORG, which handles exports.
The export body has the same name as ORG own GPE-based ORG.
Diamonds could provide a windfall for the NORP tax authorities. ORG is the world's ORDINAL largest diamond producer and its sales of uncut gems rose PERCENT in DATE to MONEY.
ARS, which mines nearly all of GPE's diamonds and is its sole official exporter, reached a preliminary agreement with ORG to export rough gems under a memorandum in DATE.
But the text of the agreement, undergoing review in various ministries, is awaiting government approval.
""The final agreement must correspond to the memorandum, since it was signed by the government and we are obliged to fulfil it,"" PERSON said.
The prosecutor general's press service, which told NORP news agencies on DATE of the investigation, said it was investigating ARS' finances but stressed no formal criminal charges had been filed.
""At this point, there are no indictments,"" said press spokesman PERSON, declining to comment on whether formal charges would be pressed. ""We are investigating and the matter has been passed to ORG.""
The investigations revolve around alleged unpaid taxes and breaches of hard currency regulations for which fines could total MONEY, according to NORP news agencies. The probe has generated further uncertainty over the relationship between GPE and ORG.
""There's a whole lot of political infighting going on between GPE and GPE,"" said analyst PERSON at ORGamp; Co in GPE, referring to the main diamond-producing region in LOC where ORG is based.
""It could possibly affect the agreement with ORG -- but then again, it could be somebody in GPE trying to throw a spanner into the works.""
The diamond world, recovering from the decision of NORP producer Argyle to say goodbye to ORG, is impatiently waiting for GPE to finalise its relationship with the NORP cartel.
GPE has been accused in the past of leaking MONEY' worth of diamonds on to world markets outside its previous deal with ORG. The new deal, once approved by GPE officials, could give ORG greater control of NORP output.
But it may not give greater comfort to GPE's increasingly ambitious mineral-rich regions -- especially to GPE, which wants a greater cut from exports of rough gems.
GPE-ORG relations were ORDINAL hit by uncertainty when GPE's ORG, the precious metals and gems agency which participated in talks, was shut down by presidential decree in DATE.
Under the DATE memorandum, which replaced an expired DATE deal, ORG would take PERCENT of NORP rough diamonds. That is PERCENT under the previous deal, leaving GPE more for its own nascent cutting and polishing industry.","ORG and ORG resumed contract negotiations DATE under the threat of additional strikes as local walkouts continued in GPE and GPE.
Bargainers reconvened at ORG's headquarters here DATE TIME but ORG spokesman PERSON declined to say if ORG Chairman PERSON was directly involved in the talks.
""Talks are taking place at all levels,"" PERSON said.
CARDINAL members of ORG CARDINAL struck ORG's GPE metal stamping plant DATE TIME and CARDINAL workers also walked off the job at ORG's GPE, GPE, truck assembly plant.
ORG spokesman PERSON said no other local strikes had started as of DATE TIME, but said the union was not ruling out other actions. ORG President PERSON raised the threat of local strikes on DATE after the union's national contract with ORG expired.
""PERSON made it clear that without a national contract, the locals are on their own,"" McGhee said, noting that they do not have to provide ORG with the typical DATE notice before a walkout.
Although ORG officials said the strikes were called over local issues, the actions increased pressure on ORG for a national agreement by threatening to paralyse much of the lucrative light truck operations at the world's largest automaker.
The local walkouts thus may nudge ORG into a tentative national agreement before DATE, when the ORG's CARDINAL-member ORG is scheduled to meet in GPE. The council, made up of plant-level leaders, would have to approve any agreement.
A major sticking point in the national talks covering CARDINAL workers is the future of CARDINAL domestic parts plants ORG considers uncompetitive. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs.
A national agreement probably would also require the signatures of Smith and ORG. McGhee said PERSON was not at ORG headquarters DATE TIME but was involved in the talks. ""His physical presence is not demanded for every meeting we have with ORG,"" McGhee said.
Workers at all of ORG's truck and truck parts plants have been working heavy overtime in DATE, putting a strain on workers and leading to union demands for relief. For example, at the GPE plant, which makes ORG, ORG and ORG sport utility vehicles, ORG Local 95 has pressed ORG to hire a ORDINAL shift of workers.
The GPE plant supplies doors, fenders, hoods and other parts to CARDINAL of the automaker's CARDINAL NORP truck assembly plants. At least some of those plants likely will have to halt operations within DATE due to parts shortages.
Only a handful of ORG's CARDINAL local units have signed new local contracts with the automaker. The pacts typically cover items such as work rules, staffing levels and health and safety standards, while the national agreement covers wages, benefits, job security and other broad issues.
While ORG has refused to identify the plants it wants to sell, the list includes a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, officials said. Together, the plants employ CARDINAL ORG members.
The local strikes mark a departure in ORG's bargaining strategy, which until DATE had been marked by unusually conciliatory remarks and virtually no strike threats.
The walkouts also came DATE after ORG members returned to work following a DATE strike over the issues of job security and shifting work to outside contractors.",0
"Veronika Hirsch, the flamboyant NORP stock picker hired recently to spearhead ORG drive to dominate the NORP market, has been removed from her fund as she is probed by NORP regulators.
The dramatic move -- DATE after GPE's so-called ""WORK_OF_ART"" joined the mutual fund giant -- is a blow to ORG's expansion efforts in GPE, analysts said.
PERSON, who was unavailable to comment, is embroiled in a controversy over personal trades she made before joining ORG, the world's biggest mutual fund company.
Her investments DATE in a small GPE company, ORG, grabbed headlines and attracted the attention of ORG.
TIME, ORG ousted PERSON from her portfolio and said her status was ""under discussion."" ORG also took the unprecedented step of offering clients their money back without penalty.
The fund has grown to MONEY (MONEY) in assets since it was launched amid much fanfare on DATE.
ORG's head office in GPE declined to comment and referred all calls to its NORP subsidiary.
""We acknowledge that it is highly unusual for a fund to change portfolio managers so quickly after its launch. This fee recovery program is a proactive and voluntary response on our part to maintain investors' goodwill,"" ORG spokesman PERSON told ORG.
ORG vigorously defended PERSON when the controversy ORDINAL broke DATE. But it canceled a CARDINAL-city road show DATE when regulators contacted PERSON.
At issue is her purchase of CARDINAL special warrants of PERSON through a private placement while she was a fund manager with ORG in GPE.
Hirsch paid C$MONEY ($MONEY) per warrant, according to filings with ORG and reported by PERSON, a NORP investment publication.
Shortly afterward, PERSON's ORGamp; ORG bought CARDINAL special warrants at more than double that price.
Analysts said regulators are expected to review whether the trades constitute ""front running"", a practice whereby a fund manager tries to profit personally by buying securities he or she intends to buy later for the fund.
Another related issue is whether PERSON, a resident of GPE, used an address in GPE to buy PERSON shares, which were only offered to GPE residents.
Lakshman contended the controversy has not damaged ORG's reputation or expansion plans in GPE. But analysts saw the publicity as damaging as ORG gears up for the critical DATE sale of retirement savings plans.
""They look kind of foolish being the ones associated with this situation. I don't think it helps their bid to become the dominant player in GPE by any stretch of the imagination,"" CARDINAL industry analyst said.
The PERSON case comes as NORP are pouring MONEY into mutual funds. Over DATE, investment has jumped QUANTITY to MONEY (MONEY).
ORG wants a bigger share of the NORP market, where it ranks ninth with MONEY (MONEY) in assets, behind leader ORG, with MONEY (MONEY).
To quarterback its effort in GPE, ORG poached PERSON, a high-profile stock picker with ORG, for a rumored MONEY (MONEY) signing bonus in DATE.
Her meteoric rise to celebrity status began when she joined ORG in DATE after a successful but low-profile stint at ORG.
A multi-million advertising campaign put PERSON's face on television screens across the country. She soon rivalled celebrity stock guru PERSON at ORG as the country's best-known fund manager.
When PERSON jumped to ORG, her blood-red nails and leather outfits appeared an uncomfortable fit with ORG's ultra-conservative culture, but the hiring was considered a major coup within the industry.
At the time, ORG President PERSON said: ""Veronika is one of the country's top equity managers with an outstanding track record and reputation.""
Kelly was unavailable for comment on DATE.
Industry critics argue that the PERSON case raises key questions about the fiduciary responsibility of fund managers to their clients. It also highlights the jumble of standards governing the personal investing of NORP money managers.
Altamira has tough rules restricting managers from investing in open-ended mutual funds, short-term government bonds and treasury bills after a controversy involving CARDINAL of its fund managers.
But some industry observers say the entire industry should adopt tougher GPE guidelines.","GPE's ban on poultry imports from CARDINAL GPE states aimed at preventing a deadly epidemic, is unlikely to be mired in the politics of GPE's bid to join ORG, a GPE official said on DATE.
""They (NORP authorities) are very sensitive to any sort of disease profile,"" PERSON, representative in GPE and GPE for the GPE state agriculture department, told ORG.
GPE's ORG has confirmed a ban on poultry products from GPE and GPE which came into effect on DATE.
Official news reports said the ban was slapped on poultry products from the CARDINAL states because of CARDINAL cases of a deadly poultry flu discovered DATE.
Some GPE industry sources suggested the ban could be connected with GPE's tit-for-tat trade disputes with GPE and timed to coincide with the ORDINAL ministerial meeting of the CARDINAL-member ORG (ORG) in GPE.
But ORG said this was unlikely.
The virus in question, known as viscerotropic velogenic GPE disease, or ORG, is deadly, PERSON said.
""It's a very, very dangerous disease -- the most feared of poultry diseases,"" he said. ""The symptoms are like influenza, and once CARDINAL bird gets the disease, all the poultry will die.""
But ORG said he had not heard of any recent cases of ORG in GPE.
The last major outbreak of ORG in GPE occurred in GPE in DATE and led to the eradication of the state's entire poultry population, he said.
The poultry industries of GPE and GPE were far down on the list of top GPE producers and exporters, he said.
GPE is the country's biggest poultry producer and home to ORG and PERSON.
GPE exports around MONEY of poultry and poultry products DATE to GPE, its biggest market after GPE and its only market for chicken feet.
GPE reported CARDINAL case of ORG, found in a wild cormorant, in DATE, said an official with NORP embassy in GPE.
Under existing protocols between GPE and GPE, NORP poultry exports to GPE did not cease, and neither volume nor value was affected, the embassy source said.
But all NORP poultry must be now certified as not coming from the area where the dead bird was found, he said.
The current NORP ban on GPE poultry imports comes DATE after the resolution of a ban GPE slapped on all poultry products from GPE because of fears over highly pathogenic avian influenza or LAW.
GPE officials said NORP authorities had mistaken WORK_OF_ART for the less-virulent avian influenza, or ORG. GPE flew in experts to meet with NORP officials.
That ban was lifted before being implemented.
-- GPE (CARDINAL) 2843 6470",0
"Rival fund managers in GPE condemned ORG (JFIM) on DATE and expressed shock at revelations of front-running at the NORP territory's biggest and most prominent fund manager.
""It's appalling that a leading, well-respected portfolio manager was profiting at the expense of his clients,"" said PERSON, executive director at PERSON and ORG ""Any institution worth their salt will fire them.""
Most fund managers, including major competitors, said they were stunned to learn of the severity of the JFIM's actions and stressed concern about GPE regulatory integrity.
""How could this have been an isolated incident when clearly there was a culture there that this was fine?"" asked CARDINAL competitor. ""Why did one guy have to take DATE? If they're regulating properly they should fire everyone who did that.""
A DATE investigation by ORG (IMRO) in GPE and ORG (SFC) in GPE exposed late allocation of trades by PERSON, a charismatic and senior member of GPE fund management community.
The late trades, many involving PERSON's personal account, allowed for a change in the trading price which PERSON turned to his benefit, the investigation concluded.
PERSON was fined CARDINAL sterling. JFIM's former chief executive PERSON, who had earlier resigned, has had his registration in GPE and GPE revoked.
GPE-based ORG lost its authorisation.
""I think the disciplinary action was minor given the severity of what they did,"" said CARDINAL fund manager.
PERSON declined to respond to the criticism, but the ORG said it was convinced PERSON would function in the future as a fully compliant firm.
""What people are saying in the market, the scepticism they're voicing, is not unreasonable but I don't think it quite takes into account that these guys have really received the blast of a lifetime,"" said ORG director PERSON. ""They know their credibility is at stake. They know we will be back.""
Another commentator remained unconvinced, suggesting that the PERSON incident was merely the tip of an iceberg.
""This is rife in LOC. It's rife in all emerging markets,"" said PERSON, deputy managing director at ORG. ""But GPE and GPE are no longer emerging markets and all of a sudden people are paying attention.""
PERSON said that GPE short regulatory history and relatively light reliance on ""black letter law"", or written regulations, should not suggest that its regulation is lax.
She also rejected comparisons between the PERSON scandal and that of PERSON, the rogue trader who brought down the prestigious ORG bank through unauthorised options trading in GPE DATE.
""There is no parallel between the actions of PERSON in GPE and the activities of a fund manager in GPE,"" PERSON said. ""I understand there is a certain symmetry but CARDINAL of the enormous differences here is that the regulatory system identified the misconduct, worked with regulators in GPE and dealt with the problem, unlike GPE.""
The PERSON incident should serve as a reminder to all GPE fund managers that a corporate culture of compliance is required and will be enforced, PERSON said.","DATE of sideways trade is expected on most NORP markets following news that GPE's paramount leader PERSON had died on DATE.
Although many of the smaller NORP markets virtually ignored the news, GPE and GPE surprised some investors by trading higher.
DATE in GPE is not expected to last and regional traders said quality buying had yet to surface in GPE, this DATE's surprise performer.
ORG index has gained PERCENT in DATE, recovering from DATE sharp slide on news of a debt rating review by ORG
Most of the other small NORP markets expect DATE of sideways trade, although some could suffer from trader reports of fund flows out of LOC into LOC.
""They can't find anything in LOC to buy,"" said CARDINAL head trader. ""In GPE and GPE, the earnings growth isn't massive and elsewhere it's not great. (Investors) expect better value in LOC.""
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GPE are expected to refocus on fundamentals in DATE and could trade sideways for much of the time although hopes of healthy corporate earnings may provide a positive bias, analysts said.
The market had a rocky ride DATE, quaking on concerns about the health of GPE's paramount leader PERSON before rallying after his death cleared the uncertainty.
The Hang Seng Index rose CARDINAL points, or PERCENT, over DATE to close at DATE on DATE. The rise included a CARDINAL-point surge on DATE following PERSON's death.
""On the fundamental side there is not much change,"" said PERSON, an analyst at ORG.
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TOKYO - The NORP stock market's key index is likely to struggle to find a firm foothold at the CARDINAL level in DATE, after it ended above that threshold on DATE for the ORDINAL time DATE.
""The benchmark has reached a stage where it is getting close to retracing CARDINAL of its worth from the DATE low of CARDINAL and the high of CARDINAL marked on DATE,"" said ORG general manager PERSON.
On DATE, the Nikkei average of CARDINAL leading shares ended down CARDINAL points or PERCENT at DATE. In the course of DATE, the barometer rose CARDINAL points or PERCENT.
- - - -
BANGKOK - ORG (SET) Index is expected to post further gains in DATE ahead as foreign and local investors follow through on a strong DATE rally, analysts said.
But buying is likely to be short-term and selective ahead of a central bank release of balance of payments data due on DATE.
ORG (SET) index gained PERCENT from DATE to CARDINAL points on DATE as speculative pressure on the currency eased.
Markets were closed on DATE for a NORP holiday.
- - - -
GPE - GPE share prices are seen rising further in DATE on widespread expectations of continued economic recovery and on easing fears of political instability after the death of NORP paramount leader PERSON, brokers said.
The government statistics agency announced on DATE that GPE's gross domestic product growth was PERCENT in DATE, higher than a forecast of PERCENT.
""Investors are confident that the index will continue to reflect the economy's sound fundamentals,"" said PERSON, vice-president for ORG
The index slid CARDINAL points or PERCENT to CARDINAL against DATE close of CARDINAL.
- - - -
KUALA LUMPUR - NORP blue chips could trend higher in DATE on an influx of local and foreign buyers targeting lower-valued main board stocks, dealers said.
""I think it will be DATE,"" said PERSON, of ORG international division.
Corporate earnings and economic data including DATE trade figures will take centre stage, dealers said.
GPE benchmark Composite Index of CARDINAL big-cap stocks closed CARDINAL points or PERCENT higher at CARDINAL on DATE.
- - - -
SEOUL - Consolidation combined with worries about rising interest rates will pressure the NORP market in DATE, brokers said.
""Many investors are worried about gradually rising interest rates and they believe there will be further rises,"" said PERSON of ORG.
Much worse-than-expected corporate results, due to be announced in DATE, will also hurt the market.
The composite stock index fell CARDINAL points or PERCENT to CARDINAL on DATE against DATE CARDINAL.
- - - -
GPE - Manila shares are expected to trade sideways with an upward bias DATE on slow buying in selected blue chips and continued attention to small cap issues, traders said.
DATE's news of ORGamp; Poor's upgrading of the GPE' foreign debt rating from GPE to GPE-plus could perk up the market, said PERSON, research head of ORG.
But PERSON, vice-president at ORG, said a political row over the ruling party's efforts to change the constitution to enable President PERSON to run for a ORDINAL term could make foreign investors cautious.
The main index closed down CARDINAL points at CARDINAL on DATE, shedding CARDINAL points to DATE.
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JAKARTA - NORP shares are expected to be mixed with the index moving around the CARDINAL-700 points level in DATE, brokers said.
Brokers said several secondaries and some medium-sized counters were likely to be active on news and speculation of corporate action such as stock splits, bonus share issues and DATE earnings.
On DATE, the GPE composite index closed CARDINAL points lower at CARDINAL points, against DATE close of CARDINAL points.
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SINGAPORE - ORG (STI) Index will trade in a range of CARDINAL and CARDINAL points in DATE, with a trend towards the higher end of the range, traders said.
Expectations of flat to weaker DATE results announcements, notably by property and marine companies, would continue to weigh on some blue chips, they added.
Continued retail and punting interest would underpin small and recently listed stocks, dealers said.
The ORG index ended CARDINAL points or PERCENT lower at CARDINAL on DATE against CARDINAL on DATE.
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GPE - Australian shares were seen mixed in the near term with the focus remaining on individual corporate results as the reporting season continues apace.
The All Ordinaries index closed at CARDINAL, barely changed from DATE and down PERCENT over DATE.
While major moves on Wall Street would still dictate the early tone, individual company performance was seen as the key.
""The market will look at the fundamentals and see which stocks have had the earnings to justify price movements and those that haven't may succumb to a bit of profit-taking,"" said PERSON, director at brokerage ORG
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WELLINGTON - Corporate earnings are again set to take centre stage on the GPE share market in DATE, while brokers keep a close watch on ORG's sliding share price.
It shed MONEY to NZ$6.60 on DATE on fears of a weaker earnings outlook.
Next up on the reporting schedule are the ORG divisions, which should prove a mixed bag when they report on DATE.
The NZSE-40 Capital Index ended DATE at CARDINAL, down CARDINAL points. The index has lost CARDINAL points (PERCENT) from CARDINAL DATE.
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BOMBAY - Shares at NORP bourses are expected to trade in volatile territory ahead of the DATE budget to be presented on DATE, dealers said.
""It's DATE. Market focus will be on budget expectations,"" a local dealer said.
The CARDINAL-share index of ORG fell CARDINAL points, or PERCENT, to end at CARDINAL in DATE.",1
"GPE should take advantage of easing inflation and switch its fund raising efforts to longer term bonds, an official newspaper said on DATE.
ORG, published by the central bank, said that the reduced interest rates meant that GPE could lock in long-term funds at cheaper rates.
""Now that we are in a period of lower inflation, this is the time to shift to longer term maturities for government funds,"" the newspaper said.
GPE's retail price inflation rate slipped to PERCENT for DATE, well below a target of PERCENT for DATE and down sharply from PERCENT for all of DATE.
That persuaded the central bank to cut bank interest rates once DATE, and many analysts expect another rate reduction by DATE.
GPE also felt confident enough to eliminate a hefty subsidy on new bank deposits and government debt of DATE as of DATE.
The subsidy, paid on top of the normal interest rate, was aimed at attracting investors during a period of high inflation.
The subsidy hit a peak of PERCENT in DATE, paid in addition to interest of CARDINAL for DATE bank deposits.
In DATE, GPE issued MONEY (MONEY) in domestic treasury debt, representing CARDINAL pct of its gross domestic product, according to the daily.
""The government had to raise interest rates on bonds and to give a subsidy on top of this. As a result, this increased the the cost of raising funds and the burden of repayment,"" the newspaper said.
In DATE, GPE issued its ORDINAL tranche of DATE bonds. They paid DATE interest of PERCENT but with no subsidy, making them a far cheaper way for the central government to raise funds.
""The advantage to the state is that it is simpler to manage,"" said PERSON, an economist at ORG.
""From the investor's standpoint, the bonds are also quite attractive,"" he told ORG.
The newspaper said in addition that GPE also had too much of its debt concentrated in CARDINAL DATE maturities, bunching up repayments and straining government finances unnecessarily.
""If we can rely on a certain amount of DATE treasury bonds that will ease the problems,"" the newspaper said.","GPE said on DATE it expected talks with GPE soon on a dispute over GPE sanctions on its textiles and its own threat to retaliate.
GPE also said it was still too soon to say which GPE imports would be banned if GPE failed to withdraw penalties on imported NORP textiles.
""We expect to see working level talks with the GPE in the near future,"" an official of ORG told ORG.
""The CARDINAL sides will exchange views,"" he said.
GPE said on DATE it would suspend temporarily its imports of some GPE textiles, farm goods, animal husbandry products, fruits and alcoholic drinks in retaliation for GPE's imposition of punitive charges on NORP purchases of NORP textiles.
The temporary import ban would take effect on DATE.
In DATE, GPE announced punitive charges against import quotas for NORP textile goods, accusing GPE of using transshipments to avoid GPE quota restrictions.
GPE said the action was taken without consultation and with no clear supporting evidence, adding it had no choice but to impose retaliatory sanctions.
""We are still seeking the views of NORP enteprises about which products should be included under the ban,"" the NORP official said.
""That will be determined in DATE.""
The total of trade affected by GPE's action was estimated at MONEY -- only a fraction of NORP-U.S. trade, which is now heavily in GPE's favour. GPE says its trade deficit with GPE DATE was MONEY.
But GPE's threatened trade ban, made ahead of a planned visit to GPE DATE by GPE Secretary of ORG PERSON, meant yet another face-off in the frequently testy NORP-U.S. ties.
Relations have been strained over DATE by a range of issues from GPE to arms proliferation to trade and human rights.
GPE and GPE have said they saw an improvement in relations since they narrowly averted a trade war over copyright piracy and exchanged diplomatic fire over GPE's political rival GPE DATE.
The CARDINAL sides are preparing for high level exchanges DATE, including a possible visit to GPE by GPE Vice President PERSON and a summit between NORP President PERSON and GPE President PERSON.
PERSON's visit was expected to pave the way for these meetings.",1
"NORP Prime Minister PERSON accused opposition NORP leader PERSON of lying and losing his nerve as neck-and-neck campaigning for DATE ORG elections turned increasingly bitter.
Zeman made a thinly-veiled allegation that the ORG intelligence agency had tried to extract compromising material from his elderly mother.
The slanging match between the CARDINAL leading antagonists of NORP politics began on DATE when ORG director PERSON, a ORG protege, was forced to quit over allegations of spying on a deputy prime minister and a subsequent coverup.
""DATE's comments by ORG on a police state, or on the ORG as a political police in the service of CARDINAL party, are a visible result of losing his nerve before the elections,"" ORG told a news conference.
""I can imagine such words being said by a radical anarchist but I can't imagine them from CARDINAL of the CARDINAL highest constitutional officials of this country.""
On DATE Zeman, who is lower house speaker, accused ORG of playing dirty before the ORG elections, where the NORP have been running level with the ruling ORG (ODS) in most opinion polls.
""The political struggle should be a struggle of arguments and not an abuse of secret services for spying on political opponents,"" he said.
""During DATE an operational group has existed within the ORG which has been responsible for shadowing several NORP politicians,"" said ORG.
Spymaster Devaty quit after Deputy Prime Minister PERSON, who leads the junior NORP in ORG's coalition, accused the ORG of spying on him DATE.
The ORG had covered up the operation by failing to report it to the cabinet and a parliamentary commission supervising the agency.
ORG said the agent had been spying not on Lux, who is also agriculture minister, but on a former adviser of his who was director of a bank which collapsed amidst fraud allegations in DATE. He has not explained why the state security service was investigating an apparent fraud case.
Devaty was a member of ORG, although he had suspended his membership to become ORG chief.
Allegations of politically-inspired spying on both government and opposition politicians have surfaced regularly in DATE in a country where memories remain of the pervasive state security apparatus before communism fell in DATE.
The political temperature soared on DATE when ORG said his DATE mother had been visited by ""certain people"" trying to acquire compromising information.
Asked about this comment, ORG said: ""If this actually represents what he said then this is such an unbelievable lie that I couldn't bring myself to reply at all. It's pure lie.""
Klaus accused Zeman of running a negative campaign.
""Instead of programmes there are scandals and affairs which destabilise the state and damage our country abroad,"" he said.
""The ORG affair is a clear evidence that above all the (NORP) lack, in contrast to the ORG, a positive programme.""","The main NORP oil refiner, ORG a.s., said on DATE it would reopen the hydrocracking unit at its GPE refinery, damaged by a fire DATE, by DATE.
Company spokesman PERSON said that the fire on DATE, and another apparently unrelated fire DATE before that, would have some effect on DATE earnings, but he said it was not yet clear to what extent.
""The refinery is in full operation... the cracking unit was put aside. It should be reopen by DATE,"" PERSON told ORG.
He said that the refinery, in the northwest of the country, was processing crude at normal levels, but the depth of quality of the processing was lower due to the absence of the cracker.
""(The fires) will certainly have some impact, on the other hand, the company is insured, so a number of those damages will be paid for,"" he said.
Soukup added that final results for DATE should be known at the end of the first quarter.
The fire affecting the hydrocrcker broke out on DATE in a furnace of the unit, just as crude flow resumed after an DATE stoppage.
Oil flow had been halted when a blaze ripped through a tanking terminal in another part of the refinery on DATE.
They were the ORDINAL major reported incidents at the refinery since a western consortium took a major equity stake in the newly created ORG at DATE.
In a deal completed DATE, the ORG consortium of CARDINAL foreign oil groups bought a PERCENT stake in GPE, a company set up to operate the CARDINAL main NORP refineries at GPE and NORP, earlier belonging to ORG DATE. and ORG a.s. .
The ORG is equally owned by ORG unit PERSON of GPE, ORG , and GPE's Agip SpA .
The state holds PERCENT PERCENT stake in GPE through the holding company Unipetrol a.s..
The remaining parts of GPE and GPE, both controlled by the state, are to complete a merger into Unipetrol with a share swap planned for DATE.
Unlike DATE, NORP refineries are recieving NORP crude supplies normally through ORG) pipeline, which had frequent EVENT flow interruptions DATE because of rows over transit fees between GPE and GPE.
-- Prague PRODUCT, CARDINAL-2-2423-0003",1
"ORG hit a new year-high on DATE as major banking issues broke out of a recent slump to spur the bourse higher.
PERSON and PERSON, the country's CARDINAL largest banks both posted strong gains to help push the ORG index up CARDINAL points, or PERCENT, to a DATE high of CARDINAL.
Overall, advancing issues narrowly outpaced decliners by CARDINAL, with CARDINAL holding steady. Total volume remained steady at CARDINAL shares on turnover of CARDINAL crowns.
Komercni, a likely recipient of attention from investors looking to enter the NORP market after an announcement of its inclusion into the ORG index, jumped CARDINAL crowns to close at CARDINAL.
Meanwhile, savings bank ORG GPE also posted a strong gain of CARDINAL crowns to CARDINAL.
""The inclusion of GPE in the ORG index should help boost issues like GPE,"" said PERSON of the brokerage ORG.
TIME, GPE CEO PERSON announced the bank expects DATE net profit to total MONEY crowns, while gross profit will hit MONEY.
PERSON added that he expected the bank would pay a higher dividend in DATE than its CARDINAL crown per share dividend for DATE.
""Gross profit, before the creation of reserves and payment of taxes could be slightly above CARDINAL crowns,"" PERSON said. ""We are counting on dividends for DATE will be higher than that of DATE.""
GPE's DATE after-tax profit, calculated according to NORP accounting standards, plummetted to CARDINAL crowns from a previous CARDINAL crowns after the bank provisioned heavily for risky loans.
The bank's DATE gross profit was CARDINAL crowns but the bank assigned almost an identical sum, CARDINAL, to its reserves covering ""classified"" loans -- those whose likelihood of recovery ranges from doubtful to hopeless.
Klapal did not say whether his forecasts were calculated according to NORP or international accounting standards, which vary mainly in terms of allowable write-offs and depreciation costs.
Even though analysts agreed that the financial situation of the bank was markedly better DATE than it was DATE, they said shares of the bank were overvalued.
Analysts say they are closely watching what appears to be a strong acquisition of shares in GPE by the usually secretive NORP investment group ORG and the rival bank Investicni a Postovni Banka a.s.
""The attractiveness of (GPE) could greatly drop if Motoinvest took a more significant share in management,"" said PERSON analyst at the investment house Atlantk FT.","The party of right-wing NORP Prime Minister PERSON took a solid lead in ORG election run-offs on DATE, but turnout was dismal despite an appeal to vote from President PERSON.
With CARDINAL the CARDINAL constituencies declared, ORG's ORG (ORG) had won CARDINAL seats in the new upper house, ahead of the opposition NORP with CARDINAL.
The NORP NORP, a junior partner in ORG's centre-right coalition, put in a strong perfomance to take CARDINAL while the ORDINAL party in the government, ORG (ODA) won CARDINAL.
Turnout was PERCENT, lower even than PERCENT recorded in the ORDINAL round of the ORG polls on DATE, ORG said.
Before the ORDINAL round, ORG appealed to NORP to turn out in far greater numbers for the sake of the credibility of the new upper house.
The ORG elections had been billed as key to the future of ORG's coalition, which lost its lower house majority in elections DATE. But analysts say that with turnout so low, the ORG results have little significance.
Finance Minister PERSON, an ORG member, forecast that the government parties would take control of the ORG.
""It is clear that the coalition is leading at the moment and I think they still will be after the final results are out,"" ORG told reporters, predicting that the ODS would win CARDINAL seats.
Analysts had forecast that voter apathy would benefit the ODS which is well-organised and well-funded by big business.
Its supporters, largely more affluent Czechs who have benefited from ORG's free market reforms since the DATE fall of communism, have been galvanised by the coalition's loss of its majority in the lower ORG in DATE.
Klaus, an architect of economic reform, repeatedly accused the NORP of conspiring with the little-reformed communists to turn back the clock on reform.
Scepticism is widespread among NORP and ORG himself has questioned the need for the ORG, which was written into GPE new constitution when GPE split at DATE, but is only now being elected.
The Social NORP have said they would scrap the ORG if they ever achieved the CARDINAL majority in the lower ORG needed to change the constitution.
Klaus toned down his scepticism as voting neared but only ORG has appeared enthusiastic about the idea.
Before the run-offs -- for the top CARDINAL ORDINAL round candidates in constituencies where no one won CARDINAL the vote -- ORG appealed to citizens to turn out in much greater numbers for the sake of the ORG's legitimacy.
-- GPE newsroom (CARDINAL) DATE",1
"DATE after a GPE graduate student cracked the most powerful computer encryption system allowed out of the country, ORG announced it would allow CARDINAL companies to export an even stronger system.
Until DATE, computer encryption programmes, which scramble information and render it unreadable without a password or software ""key,"" were classified as munitions and stronger programmes could not be exported.
But under a controversial new PERSON administration policy that took effect DATE, companies may recieve permission to export stronger programmes.
""I'm happy that we've been able to do this within DATE without rancour or difficulty,"" Under Secretary of ORG PERSON said in a telephone interview.
To export stronger programmes immediately, companies must agree to incorporate features within DATE allowing the government to decode encrypted messages by recovering the software keys.
The adminstration's policy has been widely criticised as not relaxing the export limits enough and some companies feared the requirement for a DATE plan would substantially delay export approvals.
The quick approvals should quell some of the criticism and encourage more applicants, ORG said.
""As a result of this, you will have more companies taking it seriously and we will expect more plans over DATE,"" he said.
Encryption was once the realm of spies and generals. But with the explosion of online commerce on the Internet, encryption has become a vital tool for protecting everything from a business' e-mail message to a consumer's credit card number sent over the Net.
The amount of protection afforded by encryption is largely a function of the length of the software key measured in bits, the smallest unit of computer data.
Companies said products with just QUANTITY long keys, the old limit, were too easy to crack. The approvals came DATE after PERSON, a graduate student at ORG, cracked a message encoded with a sofware key CARDINAL-bits long.
The government did not name the companies on DATE given permission to export stronger, CARDINAL-bit programmes, but GPE, GPE-based ORG acknowledged that it was CARDINAL of the CARDINAL.
""Recent attacks on QUANTITY encryption have shown that a global move to CARDINAL-bit (GPE government standard) security must come soon,"" ORG Vice President PERSON said.","It's a Snip, bidding to become the ninth horse to win DATE in succession in the DATE history of the ORG steeplechase, leads a NORP raid to this city east of GPE on DATE.
DATE winner, CARDINAL of a trio of NORP horses expected for the controversial DATE mile event (QUANTITY), has the considerable advantage from the saddle of PERSON, one of the world's most accomplished jump jockeys.
The ORG, a unique test of man and horse, includes a series of demanding obstacles and has been compared to ORG, a race Dunwoody has won twice.
Race organisers have made the course easier in DATE, including modifying the daunting Taxis jump with its tough, high, wide fence and deep ditch. 
This and various other changes among the other CARDINAL jumps followed massive protests and the embarassing DATE outcome when CARDINAL horse managed to finish.
A total of CARDINAL horses have died in the ORG over DATE.
Rounding out the trio of NORP challengers looking to win part of the QUANTITY ($MONEY) purse are NORP Stamp and PERSON.
NORP Stamp, to be ridden by PERSON, has a clear chance and is rated considerably higher in GPE than It's a Snip, although the latter's proven ability over the course will be a major factor.
Of the others, NORP-trained ORG is also expected to make a bold show.
Despite its long history, the ORG has only recently regained its former status.
""In the past everyone in GPE knew of the enormously difficult course but they didn't have much interest,"" said PERSON, CARDINAL of the organisers who has worked to bring the NORP contingent here.
""But DATE, CARDINAL of the biggest hits of the season is to come here for a DATE trip to CARDINAL of the most historic races around.""",0
"A brisk start to holiday shopping should help retailers post solid sales gains for DATE and make DATE merrier than DATE for the nation's store chains, industry analysts said DATE.
But quirks in the calendar, with a later Thanksgiving DATE, and some retailers tallying sales differently than others, could obscure overall results for DATE.
Industry analysts said they expect sales at stores open DATE to rise PERCENT to PERCENT overall in DATE, with clothing continuing to be a strong contributor, as it was in DATE.
Most retailers report DATE sales on DATE, though ORG, a speciality women's apparel chain, reported DATE same-store sales up PERCENT from DATE on DATE.
""We think the majority of companies are going to be on or above plan for DATE, with good inventory levels,"" said PERSON, retail analyst at ORGamp; ORG ""We think the promotional level for DATE was high, but probably no higher than DATE.""
With discounts and markdowns no higher and in some cases lower than DATE, and inventories being managed tightly, profit margins should improve, helping to lift DATE earnings, analysts said.
""On balance, good business now is going to translate into decent earnings,"" said PERSON at ORG ORG said his index of sales could be one to CARDINAL points higher than the PERCENT rise reported DATE and that the trend should continue through DATE.
""Absent some sort of event that shakes the consumer you should see good retail sales"" in DATE, he said.
DATE sales are crucial to retailers who typically earn a DATE or DATE profits during the season, analysts said. Steady economic growth and low unemployment have helped boost sales so far, and store chains should also benefit from easy comparisons with weak results DATE.
Consumers got off to a fast start on their holiday shopping after DATE, analysts said.
Retail consumer spending in the EVENT weekend rose PERCENT from DATE, according to ORG, which tracks check-writing volume. Overall, same-store sales rose PERCENT, ORG said.
Several department store operators were expcted to be among the winners when sales are reported on DATE.
ORGamp; ORG said he expected ORG and ORG to be above expectations, with ORG's same-store sales up PERCENT and DATE's up PERCENT. ORG should be up PERCENT, with gains in all its segments, he said.
Ikenson said he sees ORG slightly below expectations with a gain of PERCENT.
ORG analyst PERSON said in a research report he expected sames store sales to be up PERCENT in DATE for the firm's index of CARDINAL companies.
He also saw ORG, DATE, and ORG above expectations, as well as ORG
ORG was forecast by analysts to post a smaller-than-expected decline of PERCENT, which is due to a quirk in the company's sales reporting calendar that should help boost results in DATE.
ORG Vice President PERSON said on DATE that ORG sales appeared to be up across the board, from men's and children's clothing to Craftsman tools to fine jewelry.
""Optimism is up and it looks like consumers are responding to the short season by getting an earlier start,"" he said.
Most analyts expect big-ticket consumer electronics to continue to be weak, though one saw some signs of a pickup in sales at DATE.
""ORG and ORG over DATE talked about a pickup in the computer area,"" said PERSON, analyst at ORG. He forecast sales overall up PERCENT for DATE at a comparable number of stores.","The newly appointed chief executive officer of ORG said DATE that the company was beginning to see prices for television stations peak and come down.
That could lead to PERSON making an acqusiiton sometime in DATE, said PERSON, who is currently president and chief operating officer of the media company.
""We are hopeful that certainly in the course of DATE that we would see some action,"" said PERSON, who will become chief executive DATE.  
In DATE, ORG, which owns CARDINAL television stations could acquire CARDINAL more, he said in an interview.
""I think it may be easier in calendar DATE than in calendar DATE to make an attractive acquisition,"" he said, describing attractive as a ORG network affiliate in DATE largest GPE markets. ""We'd like a larger market, but we think it's unlikely one will become available,"" he said.
The GPE, GPE-based company also publishes magazines including ORG.  
He said PERSON will not seek publishing acqusitions, he said. Instead, the company plans to launch new titles, including ORG magazine, which is expected to be launched in DATE.
Due to consolidation in the magazine business in DATE and DATE, ""we do not think there are many acquisitions"" to be made on the publishing side, he said.
ORG said he did not see another major magazine launch by the time the company's DATE ends DATE, but said one could be launched later in DATE.  
He would not say what the next title would be, but said it would be compatable with the publisher's family focus.
Publishing currently makes up PERCENT of PERSON's earnings, broadcasting PERCENT, with the rest coming from licensing, ORG said.
The company currently has CARDINAL licensing agreements with ORG, and ORG said other agreements are possible, both with ORG and other companies.
But he also said a new deal is not likely to happen for DATE.
""I think it is unlikely that we would have a major new deal to announce in DATE,"" ORG said.
On DATE, ORG said its board of directors appointed ORG chief exectuive officer. He had been president and chief operating officer. ORG, DATE, will replace PERSON DATE, though PERSON will remain chairman until DATE, when he plans to retire, ORG said.
--Reuters GPE newsdesk, CARDINAL-408-8787",1
"NORP gambling group ORG is praying for ORG fever to grip the betting public DATE and give the company a chance of winning back some lost turnover from its wagering division.
Tabcorp managing director PERSON told the firm's DATE meeting here on DATE that total turnover rose PERCENT in DATE, due entirely to a PERCENT surge in turnover on its CARDINAL slot machines around the state.
In contrast, its wagering division suffered an ""abysmal"" start to DATE, he said.","ORG said that the decision to wait DATE before newly appointed President PERSON takes over as chief executive from PERSON made sense while he learned about a different business.
""It was something that PERSON felt made sense and something that made sense to John (Walter),"" WORK_OF_ART senior vice president for human resources, told ORG. ""It had a lot of input from the board (too),"" he said.  
AT&T appointed PERSON as its new president and chief operating officer from DATE, following ORG board approval TIME. PERSON is chairman and chief executive of printing firm ORGamp; ORG will not take over as chief executive from GPE until DATE, DATE time, and will become chairman in DATE at ORG's DATE shareholder meeting.
In the meantime they will work together, while PERSON gets to more fully understand ORG's business, ORG said.  
""They will work together very tightly on all the issues confronting the business, but PERSON will obviously be chairman and CEO during that process,"" he said.
Analysts had expected a full handover to whoever was chosen to succeed PERSON in DATE, and said the slower timetable was CARDINAL reason for the stock price fall.
AT&T stock was down CARDINAL at CARDINAL at DATE EDT/1830 ORG in heavy volume.  
Burlingame declined comment on what PERSON would be paid, except to say that his package would have a very strong alignment with the interests of ORG shareholders. Details will be available with the next 10K filing.
""Mr Walter had a very fine plan with a lot of futures built into it at ORG. We hav recognised that in the program we put together,"" ORG said.
AT&T separately told a news conference that the main part of the pay would be performance-related, and that the package, while competitive, was by no means a record-breaker.  
PERSON's last proxy filing showed PERSON's compensation for DATE as $MONEY plus a bonus of $MONEY and other annual compensation of $MONEY.
PERSON's predecessor as ORG chief operating officer and president, PERSON, left in DATE to join a startup firm called ORG for a package that included a mighty MONEY salary.
ORG said ORG started with a list of CARDINAL names from executive search firms, and narrowed those down to CARDINAL early in DATE, when candidates were ORDINAL approached.  
A lengthy board meeting on DATE in GPE whittled down the number from CARDINAL to CARDINAL. Extensive discussions took place with PERSON in DATE before his appointment was confirmed.
""The (stock) market doesn't know him yet, but this a person who will be regarded very positively as people come to know him,"" ORG said. -- GPE  CARDINAL 859 1712",0
"GPE's stock market extended DATE's rally and closed firmer on DATE, boosted by stronger oil and gold issues to end under its all-time high of CARDINAL points.
GPE's largest equity market closed barely above the watershed CARDINAL point mark, up CARDINAL points at CARDINAL. Turnover was brisk at CARDINAL shares worth MONEY (MONEY).
ScotiaMcLeod's senior vice-president PERSON noted ""the stock market didn't do too badly DATE.""
Despite a rally in oils, GPE could not breach its all-time high of CARDINAL points, set on DATE.
Oils were in focus after ORG said it would launch a MONEY (MONEY) takeover offer for much larger ORG
""That added a little juice to the oils sector,"" PERSON said.
On the broader market, CARDINAL of GPE's CARDINAL sub-indices lost ground: consumer products, conglomerates, pipelines and base metals. The gaining sectors were led by oils, golds, transports and industrial products.
Advancing stocks outnumbered decliners CARDINAL to CARDINAL and CARDINAL traded flat.
Among active stocks, PERSON topped GPE's most actives, gaining C$MONEY to hit C$MONEY on CARDINAL shares. ORG slipped C$MONEY to C$MONEY in light dealings.
GPE's largest department store retailer, ORG, saw shares rise C$MONEY to reach C$MONEY in CARDINAL large block trades.","GPE's largest stock exchange's key index broke through the psychological barrier of CARDINAL points on DATE to a new closing high of DATE points.
ORG CARDINAL Composite Index rose CARDINAL points to hit DATE points by DATE, propelled by soaring gold issues and surging oil stocks.
The CARDINAL Index reached CARDINAL points on DATE.
DATE, ""we have gone through the CARDINAL barrier,"" noted ORG's senior vice-president PERSON.
Another trader said: ""There seems... to be foreign interest in GPE.""
Overseas investors are eyeing GPE's falling interest rates and declining deficit financing needs, analysts said.
Trading volume totalled CARDINAL shares valued at MONEY (MONEY).
Advancing issues beat out declining ones CARDINAL to CARDINAL, while CARDINAL traded unchanged.
Nine of GPE's CARDINAL sub-indices gained ground, led by the heavily weighted gold sector, which rose PERCENT, and the oil group which jumped PERCENT, along with stronger base metals and media issues.
Falling groups included consumer products, conglomerates and forestry products.
Among GPE's hot stocks were fertilizer firms. ORG said it agreed to a friendly MONEY (MONEY) merger with ORG
Viridian shares jumped MONEYMONEY on CARDINAL shares, while GPE lost C$MONEY to hit C$MONEY in heavy dealings. The merger would create one of LOC largest integrated fertilizer firms.
Nickel giant ORG jumped MONEYMONEY in heavy trading, after it announced higher-than-expected DATE earnings at US$MONEY a share compared to DATE US$MONEY a share.
Stampeder Exploration Ltd topped GPE's most active stocks, rising C$MONEY to reach C$MONEY.",1
"GPE ORG staged a charm campaign on DATE with newspaper advertisements after fierce criticism about its plans to buy GPE's state-owned loss-making ORG.
Under a banner ""Do you know the dwarf ORG?"", the ORDINAL biggest world company"" the group tried to counter growing resentment in GPE that a ""tiny"" NORP company was set to buy a ""leading"" NORP group for MONEY.
GPE's ORG will state in DATE whether it agrees with a government plan to sell defence and consumer electronics ORG to ORG for one franc after an MONEY (MONEY) capital injection.
Lagardere will sell ORG, a maker of televisions and video recorders and a leader in digital video technology, to ORG.
Prime Minister PERSON, giving in a little to opposition from ORG and some members of his majority, DATE said there would be a parliamentary debate before the final government decision on the deal. But the debate will not be followed by a parliament vote on the proposal.
In full-page advertisements in most NORP newspapers on DATE, ORG said that its electronics arm had about the same sales figure as ORG, at MONEY, although with a profit which the NORP company lacks.
It said that its global sales network, especially in LOC, would allow better market access for ORG's new products such as flat screen television sets and televisions that can be connected to the Internet computer network.
The company also said that ""ORG believes in GPE"" and said it had made investments in the country and had close ties with a number of NORP companies.
""Contrary to all other competitors who have based themselves in or moved to neighbouring countries, ORG has chosen GPE. Simply because it believes in GPE"".
NORP of ORG are organising a seminar on the privatisation of GPE on DATE. They want the promised parliament debate to be televised and joined a call by ORG for an inquiry commission to study the way the government came to its decision.
ORG, meanwhile, is studying the ORG bid as well as a rival offer by ORG and could make its findings on competition issues and the state cash injection known by DATE.
Lagardere finance dirtector PERSON said on DATE that a change in the government's decision would be a ""total catastrophe in the international financial community"".
Speaking to a seminar organised by brokers PERSON, NORP said he did not understand the hostility toward ORG.
""ORG has made commitments on jobs and people say to them, Out! GPE is going to have a big credibility problem,"" he said.
Camus said ORG had had ""CARDINAL contacts in the whole world. Everybody ran away from the deal, except the NORP group ORG,"" he said. ($MONEY French Franc)","LOC major gold companies are waging an expensive battle to win the coveted title of world's biggest gold producer.
""We want more of the action,"" said PERSON, spokesman for GPE-based gold firm ORG..
""We want to be positioned in the industry as a bigger player.""
Placer Dome has made a MONEY bid for ORG of GPE and PERCENT of ORG it does not already own.
The company also plans to raise MONEY through a preferred share issue and sell off some small NORP mine properties.
Placer also has its eye on ORG, a GPE, GPE-based exploration company that discovered what could become one of the world's largest gold mines, the Busang deposit in GPE.
But ORG is also crucial to ORG plan to become the world's biggest gold company.
GPE-based ORG is already the the world's most profitable gold company and LOC biggest, but it wants to surpass ORG and ORG to be the world's largest.
PERSON, through skillful navigation of NORP politics, appears to have PERSON within its grasp.
GPE has asked the CARDINAL companies to form a joint venture to develop QUANTITY Busang deposit, with ORG controlling PERCENT.
GPE-based ORG was interested in ORG, but when ORG appeared to gain the upper hand, GPE turned its sights to ORG, a mid-tier gold company.
Although GPE seems to have lost out on its stock swap offer for ORG to a MONEY competing bid from ORG, analysts said GPE was still hunting for other takeover targets.
""This is a very capital-intensive industry and it's becoming a global industry,"" GPE spokesman PERSON said in an interview.
""In order to compete, you have to have large resources to do that. What you see is the larger players becoming bigger in order to compete.""
Homestake is poised to become LOC ORDINAL-biggest gold company after ORG if its takeover of ORG succeeds. Major gold companies are under pressure from their shareholders to keep gold reserves growing, analysts said.
""If CARDINAL company gets big, they have a lot of clout in the marketplace to acquire properties or resources,"" said gold analyst PERSON of brokerage PERSON. With gold bullion prices in a steep decline, the share prices of many mid-tier companies have been hit, making takeovers cheaper, ORG said.
But he said the current leaders of the gold world, NORP, were not caught up in the recent consolidation. ""It looks as though they're losing out to NORP,"" said Fowler.
""They're behind the CARDINAL-ball really.""
NORP gold producers were geared to react aggressively and quickly, but the NORP producers concentrated more on paying dividends, he said. ""They don't move very fast.""
Analysts said this round of deal-making was far from over as major gold companies fought it out to satisfy their shareholders' thirst for growth.
Analysts said possible future takeover targets included large mid-tier producers such as ORG, ORG, ORG and ORG..
-- ORG CARDINAL-2 373-1800",0
"ORG transport sector is likely to see more modest gains over DATE after a sharp rise over DATE, analysts said.
The transport index has risen PERCENT during DATE, while the broader market has increased PERCENT DATE.
""PERSON and PERSON's have had a extraordinary run over DATE, and the impression of the market is that they have reached their short term value,"" said PERSON transport analyst at ORG.
Over half of the transport sector is made up by ORG and Mayne Nickless Ltd.
""In DATE the sector has outperformed quite significantly,"" ORG transport analyst PERSON said.
It is outperforming because of a lot of stock specific issues,"" PERSON said.
""You look at Mayne - it's because of Optus and healthcare and if you look at GPE it's all to do with a turnaround in earnings,"" he said.
""If you look at ORG it is all to do with the bid,"" he said.
ORG, which was seen as a laggard among the majors, has been taken over by NORP post and telcoms group ORG through its MONEY bid.
PERSON plans to sell its PERCENT stake in ORG through the planned float of the telecommunications group in DATE, raising around MONEY.
Analysts said ORG share price has underperformed the transport sector, with the stock trading for most of DATE below its A$MONEY price at DATE.
""If you look at ORG they have underperformed, but they represent good value at these levels,"" Mullholland said.
ORG shares are currently trading just above the A$MONEY price institutional investors paid for the shares in the airline's float in DATE.
However, analysts said that given the diverse operations of ORG and GPE the transport index is no longer seen as by investors as a leading indicator of economic activity and so not much attention is paid to the movement of the index.
""I have always seen the transport index as a bit of a misnomer, it is kind of a diversified hybrid,"" Pru-Bache's Mullholland said.
If investors want pure exposure to the domestic transport sector they would have to look at medium sized groups Finemores ORG, ORG and Toll Holdings Ltd, analysts said.
""If you want to be in transport in GPE, you are better off looking at the medium sized players not the big players,"" CARDINAL GPE-based transport analyst said.
Analysts said that although transport companies represent some leverage to a slower growing NORP economy. But this leverage is limited as much the economic growth is seen in the service sector and not traded goods, which use transport.
""Economy growth is seen in telecommunications, media and entertainment and hardly any growth in the traded sector and that limited growth in the traded goods sector means that there isn't that much growth in the transport side,"" CARDINAL analyst said.
Analysts said in the future the transport sector may start to represent more of a transport infrastructure index as NORP government's are expected to privatise airports, railways and shipping ports over DATE.
The NORP government is expected to complete the ORDINAL phase of its airport privatisation programme in DATE with the sale of GPE, GPE and PERSON airports.","The aggressive cost cutting programmes planned by GPE's CARDINAL major airlines ORG and ORG can be achieved without affecting services, analysts said.
Both ORG and PERSON face pressure on profits because of the stronger GPE dollar, higher fuel prices, a soft domestic market and competition in the international market.
""NORP airlines are seen as high cost operators compared with the rest of world,"" said PERSON, managing director of ORG consultancy service.
""So I suppose there is scope there to reduce the cost base,"" PERSON told ORG.
ORG, which is PERCENT owned by ORG, announced at its DATE meeting DATE that it will increase its cost cutting programme by MONEY for DATE on the previous target of MONEY.
PERSON, which is a joint venture between ORG and ORG, said DATE that it plans to cut MONEY from its DATE cost base of MONEY.
""They will have to reduce their costs along with every other airline in the world and that will continue to happen for some time,"" PERSON said.
Investors are focusing on ORG, which is cutting costs more aggressively so that it can meet profit estimates.
ORG has said it aims to cut costs right across the airline, without specifying particular areas.
Analysts said ORG will have plenty of scope to cut costs, using its alliance with major shareholder ORG to share facilities.
""They have got a lot of inefficiences, they can outsource some of their engineering and maintenance,"" said PERSON, aviation analyst at ORG.
Analysts said the NORP flag carrier will also cut costs in areas where it is not so noticeable to customers, such as in the accounts and marketing and sales departments.
""It's the tail that ORG will hack into, ORG will not hack into the sharp end,"" said PERSON, analyst at ORG, referring to accounts and sales areas as the tail, while the sharp end was the flight services.
He said ORG is very competitive with other world airlines in terms of its pilot performance and aircraft ultilisation, so there is little change seen in those areas.
Analysts said ORG has to focus on cutting costs in order to grow profits and release funds for the expansion of services and purchase of new aircraft.
""They haven't got the capacity to go out and buy planes and fill them up and fly CARDINAL more routes so the focus is on improving their balance sheet and generating more profits to do that,"" CARDINAL GPE-based aviation analyst said.
However, analysts said both ORG and PERSON run a risk in cutting costs as it may affect staff morale, which in turn affects customer service and in turn customer loyality.
-- ORG newsroom CARDINAL-2 9373-1800",1
"ORG DATE reported a MONEY loss in DATE and warned investors it did not expect to report a profit until DATE.
The troubled computer maker, based in GPE, GPE, also said it expected revenue for DATE, which ends DATE, to drop PERCENT to MONEY because of weak consumer sales.
ORG's loss, which equaled MONEY a share, compared with a loss of MONEY, or MONEY a share, in DATE. Sales for DATE fell to MONEY from MONEY.
ORG attributed the latest DATE loss to slow sales of consumer-oriented Performa desktop computers during DATE, which analysts said was partly due to concerns about ORG's future.
""ORG's been under a black cloud, and part of it has been ORG's doing,"" said PERSON, analyst at brokerage PERSON in GPE. ""It's hard for a consumer to get the gumption to buy a Performa when everyone's asking, 'Is ORG dead yet?'""
ORG officials said the company will unveil in DATE its ORDINAL restructuring program in DATE, aimed at cutting operating costs by MONEY.
The plan could include more job cuts, Chief Financial Officer PERSON said. ORG wants to reduce its break-even point to MONEY in DATE revenues to enable it to return to profitability by DATE.
Previously, ORG had promised to return to sustainable profits by DATE. But industry analysts had started to question that goal after ORG disclosed DATE that sales of its Performa line were running behind plan.
ORG, which posted a record loss DATE of MONEY, has been struggling to return to profitability in the face of increased competition from computers using ORG Windows operating system and ORG computer chips.
DATE, ORG replaced Chief Executive PERSON with ORG boss PERSON and then, in DATE, announced a reunion with former co-founder PERSON when it agreed to acquire ORG ORG for MONEY.
Meanwhile, debt rating agency ORGamp; Poor's lowered ORG's corporate credit and debt rating another notch DATE, putting the company's debt further into junk bond status.
The rating agency said the downgrade reflected the challenges facing ORG, including reducing costs and restoring revenue growth, executing a cohesive operating system upgrade upon completion of the ORG acquisition, and ORG's diminished liquidity and financial resources.
""Despite its position among the top CARDINAL worldwide personal computer manufacturers ... ORG has been struggling with extremely competitive industry conditions, slipping market share, and operating losses,"" the rating agency said.
Despite the slowdown in Performa sales, PERSON said ORG's financial position remained strong.
""While we were very disappointed by the Performa sales results and the associated loss, our financial position remains sound,"" he said. ""We exited DATE with MONEY in cash.""
PERSON said there were some bright spots in its results. NORP shipments rose PERCENT in DATE from DATE. Sales to educational organizations also were above the company's goals, PERSON said.
Still, Performa sales, which account for CARDINAL of ORG's revenues, will be weak for the rest of DATE. ""We had a major problem in this CARDINAL product area,"" he said.
Analysts said the loss, which ORG forecast DATE, represented a setback for Amelio. He had set a goal of stanching ORG's losses in DATE and getting revenue growing again by DATE.
News of the latest loss can drive even more consumers to avoid buying ORG products, analysts said.
""The question is, can ORG wait until DATE to get its growth engine going again?"" said PERSON, analyst at broker ORG in GPE.
ORG reported its results after the market closed. ORG closed at $MONEY a share, down MONEY, on ORG.","ORG will unveil DATE a new family of portable PRODUCT computers to fill a critical gap in its product line.
The new PowerBook CARDINAL family, scheduled to be sold in DATE with prices starting at $MONEY, will feature a built-in CD-ROM drive and a bigger screen. The models are designed to appeal to small office users and students, ORG said.
Until now, the lack of a CD-ROM drive in its portables has held back ORG in competing with offerings from ORG, ORG and ORG, analysts said.
The new family ""isn't going to put them in the leadership role, but it's going to get them back in the game,"" said PERSON, an analyst at market researcher ORG
ORG said it also plans to introduce another new series of PowerBooks in DATE with more advanced multimedia and communication capabilities. The company did not release any more specifications.
ORG has been scrambling to retool the PRODUCT line. The predecessor to the new model, the PowerBook CARDINAL, was recalled DATE because of several defects including a faulty ORG power connector and a display casing that could easily crack.
The PowerBook CARDINAL will replace that family. The new machines will be based on a mid-range PowerPC microprocessor.
The faster microprocessor, the CD-ROM drive and bigger screen make the CARDINAL comparable in price and performance to top-selling models from other vendors, but the CARDINAL will have a tough time competing with low-priced offerings from ORDINAL-tier PC manufacturers, PERSON said.
Based on the memory, screen options and disk-drive size, the CARDINAL models will sell for MONEY retail in GPE, an ORG spokeswoman said.
The entry-level model will not have the internal CD-ROM drive, she said.
Although the machines will go on sale in DATE, there will be a limited supply on some models until after EVENT, she said.",1
"DATE after the peak of GPE's banking crisis, financial institutions are still reeling from the shock, and some have not escaped bankruptcy, analysts say.
Bankers say the worst of the bad loan nightmare is over, but analysts believe GPE's financial industry remains vulnerable.
""It will take some time for confidence in NORP banks to be restored -- at least until real estate transactions are reactivated,"" said PERSON, ORDINAL vice president at ORG.
Bad loans largely take the form of land collateral.
""Even for big banks, it will take DATE to write off most problem loans and this will hurt their earnings,"" he said.
Financial analyst PERSON at ORG said that despite vigorous efforts by the government and banks to clear the bad loan mess in DATE, confidence in NORP financial institutions has not improved in international markets.
Currently stable share prices and low interest rates are helping banks dispose of problem loans steadily and on schedule, but their efforts to restructure operations still fall short of boosting their declining asset quality, he said.
DATE saw GPE's ORDINAL bank failure since EVENT. The financial system was jolted as major regional bank ORG and the country's biggest credit union, PERSON, collapsed due to adventurous lending during the ""bubble economy"" of DATE.
Ahead of that dark day, the biggest credit union in GPE, Cosmo PERSON, had collapsed, and then DATE, ORDINAL-tier regional bank ORG went under.
Several analysts expect more bank failures.
""Everyone knows what has to happen (more financial failures), but no one knows when and how and who pays,"" an analyst at a foreign securities firm said.
To dispose of MONEY (MONEY) of loan losses, many of GPE's biggest banks posted net losses in DATE.
But counting all deposit-taking institutions, on that date there were still MONEY (MONEY) of loan losses which need to be written off, ORG said.
In DATE, parliament passed bills to clean up the nation's bad loan mess and deal with bank failures, along with a scheme to wind up failed mortgage firms, using taxpayers' money.
Analysts are cool about such efforts, however.
A spokeswoman at international credit-rating agency ORG said it has not much changed its ORG (bank financial strength rating) since DATE, when it unveiled the ORG for major NORP banks for the ORDINAL time.
ORG DATE warned that some of GPE's CARDINAL major trust banks may need external support in order to survive growing competition and the burden of bad debts.
ORG gave ORGamp; GPE and ORGamp; Banking an ""E"" ranking, meaning that they suffer from very weak intrinsic financial strength, and gave only a slightly better ""E+"" rating to ORGamp; GPE and ORG.
It also kept ORG and ORG at the ""E"" it gave them DATE.
""We expect banks with very weak financial fundamentals to ultimately require assistance either from the authorities or from their respective corporate group members,"" ORG said.","Investors in NORP countries are turning to GPE's property market, formerly notorious for high prices, says PERSON, managing director of the NORP unit of GPE real estate firm ORG
Mandel told ORG in a recent interview that his GPE-based company could bring foreign investors into GPE's real estate market, currently suffering from a DATE tailspin, and reactivate trade.
This should also help ease one of the NORP financial industry's biggest headaches -- selling off land collateral to recover something from the huge bad loans run up by GPE's CARDINAL failed ""jusen"" mortgage firms, he said.
""We are probably the only foreign company participating in the NORP real estate market... Many foreign investors from LOC are coming over here, working with us to try to buy NORP real estate,"" he said.
NORP investors see GPE as a powerful world business centre and believe that real estate prices here have come down to attractive levels after plunging PERCENT from the peak reached in DATE, he said.
NORP property prices went into a tailspin in DATE when the nation's ""bubble economy"" era of soaring stock market and real estate prices came to an end.
Mandel said that while ORG has not concluded any deals since it started operations in GPE in DATE, negotiations are going on with NORP investors, focusing on commercial buildings and apartment buildings in central GPE with values of MONEY (MONEY).
""You can buy prime NORP real estate much lower than you can buy in GPE and GPE,"" he said.
Real estate industry sources say big NORP investors such as life insurers and developers, which were aggressive buyers of land in the bubble era, are finding it hard to allocate new money for land transactions because they carry huge problem assets left from the collapse of the bubble.
Meanwhile, they say banks and construction firms are reluctant to sell their real estate at current prices, and this has greatly decreased market liquidity.
He said GPE should take a look at taxes on capital gains. GPE's real estate market needs many investors from all over the world to become a truly healthy market, but a major drawback is its capital gain tax on land transactions, he said.
The company took part in helping ORG in GPE recover debts following the DATE crisis at ""savings and loan"" mortgage associations, using its auction-marketing system. Mandel believes the system would be useful for selling jusen property.
Mandel will soon leave GPE for GPE. PERSON, who will take over the GPE operation, said making use of the Internet could be a method of soliciting investors.
In DATE, GPE set up ORG to recover, over DATE, CARDINAL (MONEY) worth of the jusen firms' problem loans in the form of real estate collateral.
DATE, several NORP ministries set up a joint panel to work out measures to boost liquidity in the property market to facilitate collection of debt through collateralised real estate.
Mandel said real estate sales by ORG would happen from DATE, beginning on DATE, ""and this will firmly set market prices"". (MONEY)",1
"Economic commentators in GPE are sounding alarms about the unbridled optimism spurring stock and property prices to new highs ahead of the NORP colony's return to NORP sovereignty on DATE.
Concerns are mounting that rising price pressures could inflate a collapsible bubble on the assumption that GPE will support GPE economy through the transition regardless of any political disruption.
""The term 'moral hazard' refers to the apparently growing belief in local markets that there is little dramatic down-side risk -- as opposed to short-term volatility -- because ultimately GPE will suppport GPE markets,"" PERSON, chief economist with ORG, wrote in a column in LOC.
In contrast to earlier fears that political uncertainty could torpedo GPE economy in DATE, domestic confidence in GPE's determination to keep the economy stable through the transition is so high that an unexpected problem has arisen -- price instability.
Economists are starting to revise upward their inflation forecasts for DATE in response to booming stock and luxury property prices.
""The outlook for DATE is going to be less good than we thought,"" said PERSON, economist at ORG.
ORG has raised its DATE forecast for the territory's benchmark consumer price index to PERCENT from PERCENT DATE, and PERSON said further increases are possible.
GPE strength in GPE stock market in DATE was welcomed as proof of confidence in the colony's future under GPE, and evidence of an economic turnaround following an export slump DATE and DATE of austerity in GPE.
But the optimism became concern in DATE when speculation emerged in the luxury end of GPE property market.
Citing anecdotal evidence, NORP argued that overseas and domestic investors confident of GPE's commitment to economic stability in GPE are rushing to buy high-end properties in anticipation of short-term gains.
The GPE government has since strongly supported a set of anti-speculation measures by ORG, and warned it will step in if there are signs that speculation is filtering down to the middle or low end of the property market.
But economists said property price volatility would eventually stimulate overall inflation, even though it has been restricted so far to the high end of the market.
""This will not be good for inflation expectations,"" PERSON said. ""In general, people will expect the higher prices in the luxury sector to affect medium and small flats.""
Chan estimates an overall rise of PERCENT in property prices will translate into at least a PERCENT increase in rents DATE, which account for PERCENT of the GPE government's benchmark consumer price index.
Food prices, which account for PERCENT of the index, are expected to rise by PERCENT DATE after holding steady DATE.
GPE will also suffer from its currency link to the GPE dollar. If GPE raises short-term interest rates DATE by DATE to CARDINAL of a percentage point, as many expect, real rates in GPE -- the difference between nominal rates and inflation -- will fall to PERCENT, PERSON said.
Such low rates will propel growing momentum in both private consumption and retail sales.
GPE, with its well-documented aversion to the socially destabilising effects of inflation, has done little to stoke further exuberance over GPE DATE economy beyond saying it backed GPE currency link.
""There seems little doubt GPE new sovereign wants to see the local economy prosper throughout DATE of transition and in DATE of its resumption of sovereignty,"" Perkin wrote. ""It (is) probably true that it does not want to see the local economy going on a speculative spree that will eventually run out of steam and cause a collapse.""","ORG key CARDINAL Composite Index rallied to close at a new all-time high of CARDINAL points on DATE, posting its ORDINAL such record in DATE.
The influential index jumped CARDINAL points to end at CARDINAL in brisk turnover of CARDINAL shares worth MONEY (MONEY).
It busted through a previous record of CARDINAL points set on DATE, partly powered by a Wall Street rally.
Wall Street rose CARDINAL points to close at CARDINAL on stronger-than-expected DATE earnings from computer chip maker ORG Earnings per share jumped to $MONEY from a DATE $MONEY.
DATE's rally in GPE was also aided by DATE, when NORP rush into TIME investing in tax sheltered funds before the traditional end-February deadline.
""The PERSON (Registered Retirement Savings Plan) season is beginning,"" said PERSON director of private client investing PERSON.
Fund manager PERSON of ORG said that managers have been cautiously eyeing the market and waiting on the sidelines but have been forced to invest since more fund money will soon arrive. ""They're sitting on too much cash,"" PERSON said.
All of GPE's CARDINAL sub-indices spiralled upward, except for golds which tumbled on lower bullion prices.
The consumer products sector soared PERCENT, followed by conglomerates, transports and base metals.
Advancing issues outnumbered decliners CARDINAL to CARDINAL and another CARDINAL traded flat.
Takeover targets hogged the spotlight. Gold prospector PERSON soared MONEY on DATE's news that ORG proposed a rival merger bid to ORG joint-venture offer. ORG shares slipped CARDINAL to $MONEY while ORG fell CARDINAL to CARDINAL.
The NORP government originally suggested PERSON and PERSON team up to develop the deposit but ORG was encouraged to bid for ORG by some NORP sources.
ORG rose CARDINAL to CARDINAL and was GPE's most active stock. It is expected to fight a hostile bid from smaller oil firm ORG, announced on DATE.",0
"The vulnerability of GPE's banking sector shares to rumour-led selloffs shows that investor confidence in the sector is still thin, brokers and analysts said on DATE.
Bank shares tumbled after vague market talk, later denied, that ORG (NCB) would hold an emergency news conference reignited worries about GPE's financial system, they said.
""We cannot say that the negative trend in the banking sector has finished,"" PERSON, a strategist at ORG, said. ""Markets are still sensitive about rumours, and this shows that investors remain concerned about the financial health of banks,"" he said.  
It was hard to predict how far bank shares will fall, analysts said, adding that there are no quick remedies to regain the lost confidence in the sector aside from improving asset quality by disposing of problem loans.
PERSON, an analyst at ORG, said: ""In the long-term, the banking sector may remain under pressure until GPE completes its GPE financial reforms.""
""It is also difficult to become positive on the sector near-term, particularly if looking at interest rate prospects,"" he said, adding that interest rates have nowhere to go but up, as they have already fallen to a historically low level.  
PERSON, an analyst at ORG, said that the market's view of banks' financial health may further erode because land prices remain under pressure and this has cast doubts over the economic recovery.
""Financially weak banks must try harder to regain the confidence from investors by cutting non-performing loans and less-profitable assets,"" another analyst said.
One bright factor which may emerge is a move within parliament by some opposition politicians calling for the use of fresh public money to deal with problem loan issue, analysts and brokers said.
""If a system to use public money to bail out big banks is established, it will ease the nerves in the stock market and selective buying of strong banks will emerge,"" a market source said.
DATE, ORG lowered its ratings outlook for ORG and CARDINAL other NORP banks -- ORG, ORGamp; ORG and Banking -- to negative from stable.
It attributed the downgrading to serious asset quality problems, and said that their respective earnings, existing capital and reserves might not provide a sufficient cushion to absorb new loan-loss provisions.","The battle between PERSON and PERSON over the ballyhooed network computer is getting rougher.
For DATE, ORG Chairman PERSON has been evangelizing his vision of a low-cost, diskless PC to access corporate networks and the Internet, a PC without a hefty operating system like PRODUCT.
PERSON's vision has captivated many in the industry, who are weary of the domination by the ORG combination of ORG Windows operating systems and ORG processors in PCs.
ORG has jumped on the network computer bandwagon with ORG and on DATE it will introduce its much-anticipated ORG.
But DATE, in a blatant move to steal ORG's thunder, ORG Chairman PERSON struck back.
ORG gathered together a Who's Who list of the PC industry and announced its own low-cost solution to the growing interest in the network computer.
""Obviously, ORG is feeling the heat from all the hype that ORG and Sun are getting,"" said PERSON, an analyst at ORG, in GPE, GPE ORG's initiative left many industry analysts underwhelmed. The software behemoth unveiled a ""new"" PC design, a standard PC design with an ORG processor, memory, a hard disk drive, and of course, the Windows operating systems, with features to automate software upgrades.
But ORG zoomed in on the key point of the pro-network computer argument that is striking a nerve with many corporate information technology managers: the high cost of owning large numbers of PCs.
Some industry analysts estimate that a PC, which can range from MONEY to purchase, can cost anywhere from $MONEY to $MONEY and more DATE to maintain.
Redmond, Wash.-based ORG unveiled ""ORG"" features in its roadmap for its NetPC, which will be built into future versions of its PRODUCT and Windows NT operating systems.
""That's the biggest advantage of the GPE, is the lower cost of ownership"" said PERSON, an analyst with ORG, in GPE, GPE ""They are trying to get to that and say, 'we can create something that is just as low-cost.'""
The concept behind the network computer, which ""rents"" software such as a word processing package, or a spreadsheet, from a main computer, or server, is that it does not need continuous upgrades for the operating system or applications.
""PCs have CARDINAL huge liabilities, high cost and high complexity,"" PERSON, the co-founder and senior vice president of ORG, told reporters on a conference call.
As ORG was holding a press conference in the backyard of its LOC foes on DATE, GPE, Calif.-based PRODUCT and ORG, headquartered in GPE, GPE, unveiled their own alliance.
Oracle agreed to use the Netscape Navigator as the main browser on the ORG version of its network computer, which is expected to ship DATE, and PRODUCT will offer NORP database software in its server packages for corporate intranets, or internal networks modeled on the Internet.
""The rise of the NC ... it's a profound shift in the industry,"" PERSON said.
While PRODUCT has much to gain with the adoption of devices that access the Internet and corporate networks -- its browser holds PERCENT share of the Internet market -- analysts said the current ORG is a bit too bulky and has limited functionality on a network computer.
PRODUCT has a subsidiary, called PERSON, which is developing a ""thinner"" version of Navigator that will be more tailored to NC-like devices, mostly aimed at the home market.
For now, the hype is surrounding the corporate market, where analysts expect the network computer to have an impact.
""I am skeptical about the GPE as a consumer device,"" said PERSON, another PERSON analyst. ""In corporations, there is a lot more hope for it.""
Even ORG has jumped into the fray. The world's largest computer maker was the ORDINAL company to begin shipping its version of a network computer, which it calls ORG, to a limited number of customers, DATE.
""To us, it's not about network computers replacing PCs, it is the right technology for the right problem,"" said PERSON, vice president, network computing, at ORG. ""We have been through CARDINAL phases of computing, from the mainframe to the minicomputer to the PC and none of them have replaced the ones that came before them.""
Indeed, most market researchers do not believe that the GPE will replace the PC, but it will make a dent in the market.
ORG predicts that by DATE, there will be CARDINAL CARDINAL NCs shipped, or ""non-PC type devices"" vs. CARDINAL PCs.
But when asked which companies will dominate the burgeoning GPE sector, analysts hedge.
""Who knows who is going to be around that long,"" said ORG PERSON.",0
"GPE's state oil pipeline firm GPE on DATE cast a shadow of doubt over the go-ahead for a proposed new pipeline across GPE when it said it had demanded a stronger role in the strategic deal.
NORP spokesman ORG said the monopoly, which owns and operates GPE's vast, existing oil pipeline network, was not content to play the role of DATE operator and wanted an equity stake in the important project.
""We want to be a shareholder,"" he said. ""But the oil firms have not valued our technical expertise highly enough.""
Companies holding a PERCENT stake in ORG (CPC) that will build the proposed link are ORG, NORP LUKoil, ORG , ORG, ORG, ORG, PERSON of GPE, PERSON and ORG.
GPE, GPE and GPE hold PERCENT.
A CPC official, speaking after a meeting DATE in GPE to try to push a long-delayed restructuring agreement ahead, said the deal would be signed DATE.
But the consortium has not made any formal announcements on what was achieved and shareholders declined to give details.
The CPC consortium, in one of the former GPE most ambitious and important energy projects, wants to build a MONEY pipeline from GPE's vast ORG oilfield through war-torn GPE to GPE's LOC port of LOC.
But a cloak of secrecy around DATE meeting raised questions over whether the group had overcome hurdles that have dogged it in the past, including prickly issues of GPE's participation and of corporate and international financing.
""The transition committee successfully completed negotiations on restructuring and the final agreement will be signed in GPE on DATE,"" said the CPC official, who added that he was not allowed to provide any details.
But several shareholders said the deadline was optimistic and stumbling blocks remained. ""The subject is extremely sensitive and I cannot say CARDINAL single word about CPC,"" said a Western oil executive whose company is a ORG shareholder.
A ORDINAL similar NORP source said: ""I'm reluctant to say the deal is going to be signed on x or y date.""
Polyanin said it was premature to say all outstanding problems had been resolved, adding that GPE would seek to persuade consortium members to reallocate equity stakes.
He said PERSON was lobbying Deputy Fuel and Energy Minister Anatoly Shatalov to push CPC to give LOC a share.
GPE has a big strategic card to play, since it will operate the pipeline and help set and collect transit fees that will fill its coffers. If the fees are too high, it will throw a wrench into the economics of the deal for the Western partners.
CPC's main customers are ORG and ORG. Desperate to ship more oil out of their ORG project, they are already sending crude to Western markets via unconventional routes through GPE, GPE and GPE on trains and barges.
CPC sources said PERSON's role and NORP taxes were the main issues preventing a final agreement for the pipeline which should eventually carry up to QUANTITY of oil a year (QUANTITY per day).
They also said it was a barometer of the extent to which NORP onshore and offshore oil and pipeline projects will be able to get off the ground, and of GPE's willingness to see oil-rich former NORP republics develop their own energy deals.","An outbreak of bacterial food poisoning that sickened CARDINAL children and young adults in the GPE area has been traced to CARDINAL company's tainted apple juice, health officials said on DATE.
ORG, a rapidly growing fresh juice and beverage company based in LOC, GPE, issued a nationwide recall of products containing fresh apple juice, and many retailers pulled all PERSON beverages from their shelves.
State and county health officials said CARDINAL of the CARDINAL confirmed cases of E. coli food poisoning had been conclusively traced to the unpasteurized PERSON juice and the remaining CARDINAL were under investigation.
CARDINAL more suspected cases have been reported, Dr. PERSON, the state's deputy health secretary, said.
""It's difficult to know where we are on the epidenmic curve, although I don't think we are going to see a large influx of masses of new cases,"" PERSON told ORG.
The outbreak was the state's worst since CARDINAL people became ill in the GPE area and CARDINAL children died in DATE after eating undercooked hamburgers.
While adults may suffer diarrhea, stomach cramps or more mild, flulike symptoms after eating food tainted by the bacterium, young children are more susceptible to the disease and may suffer sudden kidney failure that can lead to permanent brain damage or death.
In the current outbreak, CARDINAL children have been hospitalized, including CARDINAL who required dialysis. Officials said all the children had been released except for CARDINAL DATE boy, who was in satisfactory condition.
The strain of E. coli implicated in the outbreak normally lives in the digestion system of cattle and can spread into the food chain through slaughterhouse contamination or   fertilizer
that includes steer manure.
Health officials said juice can be tainted when fruit falls onto fertilized ground and is not washed properly.
ORG has launched an investigation and will be inspecting PERSON's plant in GPE, GPE, health officials said.
""Our ORDINAL concern is for the health and safety of those affected,"" Odwalla chief executive officer PERSON said in a statement. He said the company was cooperating fully with health authorities.
Although so far all the cases have been traced to PERSON juice, authorities recommended that consumers in the GPE area boil unpasteurized apple juice or cider for TIME before drinking it until the investigation was complete.
Odwalla, which bills itself as the ""leading branded fresh juice and beverage company,"" distributes its beverages in pint plastic bottles to supermarkets and retail outlets in GPE, GPE, GPE, GPE, GPE, GPE, GPE and GPE.
In DATE, the company reported its sales rose PERCENT to MONEY from MONEY. But net income fell to $MONEY, or MONEY a share, from $MONEY, or MONEY a share.",0
"ORG plans to delay GPE's re-entry to world oil markets lifted oil shares in LOC on DATE as a sharp rise in oil prices fed through to the stock markets, traders said.
NORP military activity in the NORP north, prompted the ORG to put on hold a planned humanitarian NORP oil-for-food exchange, stopping the ORDINAL sales of NORP oil since EVENT DATE.
The increased tension in LOC and delays to NORP supplies lifted crude prices and, said analysts, was likely to raise market estimates for the ORDINAL and probably DATE.
DATE futures for benchmark ORG crude opened MONEY a barrel higher on GPE's international ORG.
Shares in Enterprise Oil climbed CARDINAL-1/2p to 520p, while NORP rose CARDINAL to CARDINAL. ORG was up CARDINAL-1/2p at ORG and ORG 6-1/2p at CARDINAL. In GPE, ORG rose MONEY to CARDINAL.
The NORP humanitarian oil sales had been expected to hit markets in DATE but after the latest developments traders were questioning when and if those supplies would come back on stream.
That could mean an upward revision of MONEY on ORG crude oil prices for DATE with the possibility of the NORP sales ban lasting into DATE.
""I'd rather wait and see how likely or how long delays to NORP sales are going to be before I get too panicky,"" said CARDINAL leading oil analyst.
""Almost certainly there is going to be DATE now as well as the third. People are going to have upgrade numbers for DATE but for DATE it's a bit early to say.""
The resultant boost to earnings forecasts are likely to provide support to share prices across the sector with most analysts having expected an oil price fall in DATE as the humanitarian sales came through.
Consensus forecasts had been MONEY per barrel for DATE compared with an average of MONEY in the ORDINAL, analysts said.
""We were forecasting $MONEY for the ORDINAL. We'll have to raise that in the light of this news and also DATE which was $MONEY by MONEY per barrel,"" said ORG PERSON.
""The purest plays are the exploration and production companies - Enterprise, Lasmo and Saga. You pick a pure play if you believe the delay will last into DATE,"" said PERSON.
Integrated majors PERSON, ORG, Elf, Total and ORG also provided fairly good exposure, she said.
Total shares rose MONEY at CARDINAL in GPE and ORG gained MONEY to CARDINAL. PERSON added CARDINAL NORP crowns to CARDINAL.
But while the NORP situation will underpin stocks in the near term, it is long-term trends that will determine significant outperformance in the sector.
The real issue was at what point -- if at all -- people decided that forecasts for oil prices through DATE DATE should be higher, said PERSON of BZW.
""At this stage I don't see anything that would make one want to do that. In investment terms, the sector is only really going to start motoring if people start bumping up the long-term trend rather than just this DATE's estimate,"" he said.","Database software company ORG said DATE it filed a lawsuit against ORG, accusing its bigger rival of stealing trade secrets by hiring away its employees.
Oracle hired CARDINAL ORG employees from ORG's GPE, GPE, research and development centre. All CARDINAL workers quit on DATE TIME, said ORG Chief Executive PERSON.
ORG stock fell $MONEY, or PERCENT, to $MONEY in active trading on ORG. Oracle stock fell MONEY to $MONEY, also on Nasdaq.
""This is a blatant effort by ORG,"" said PERSON. ""They're behind significantly technically. We're not going to let someone who's significantly behind technically just buy his way in.""
Oracle officials called the lawsuit ""ridiculous"" and said the CARDINAL programmers approached NORP on their own. They also had approached ORG about jobs, said PERSON, ORG senior vice president of server technologies.
""This is a group of senior developers that was very frustrated by the lack of vision of ORG top managers,"" Held said. ""We did no active recruiting. I was called absolutely out of the blue"" when the former ORG staff joined ORG.
The lawsuit, filed on DATE in ORG in GPE, seeks unspecified damages. ORG on DATE also obtained a temporary injunction barring the former employees from giving trade secrets to ORG, ORG said.
ORG also charged PERSON, a former ORG product development vice president who left for ORG, with breach of contract. PERSON did not return phone calls to ORG's GPE facility.
ORG, based in GPE, GPE, and ORG, based QUANTITY north in GPE, GPE, both write sophisticated programmes that store and retrieve huge amounts of information in corporate computer networks.
The companies for DATE have been fighting a marketing war touting their advances in database technology with each new release of their respective flagship products.
White said he believed ORG was interested in gaining ORG's expertise in writing software for so-called massively parallel computers -- top-of-the-line machines that can process huge amounts of transactions simultaneously.
The CARDINAL ORG employees who left for ORG were working on this type of product, PERSON said.
Held said ORG does not have an interest in ORG's technology because ORG is ahead in that area.
""Oracle has had parallel technology for DATE,"" Held said. ""ORG is playing catch-up. PERSON has a knack for being behind and saying he's ahead.""
Technology debates aside, the spat is the most serious between the companies in DATE. PERSON, normally a publicity-shy executive, said he was livid about ORG's tactics and intended to make the lawsuit a political cause in LOC for preventing employee raids.
White said he personally went to the home of NORP Chief Executive PERSON on DATE TIME to discuss the issue, but PERSON was in GPE. Both men live in the same small town in LOC.
""I'm doing this not only for ORG and for our shareholders but also for the industry,"" PERSON said. ""We can't let companies come in and throw big financial incentives and walk away with intellectual property we spent MONEY developing.""
In DATE, several software rivals in LOC have accused each other of trade secret theft by employee snatching.
In DATE, ORG accused a former employee of sending confidential electronic mail to new employer ORG.. DATE, ORG.. filed a similar charges against direct competitor PERSON..
The court has set a hearing in the ORG case for DATE.",0
"The nation's distillers DATE formally reversed their DATE voluntary ban on broadcast advertising of liquor, saying whiskey and gin should be treated just like beer and wine.
The announcement -- coming DATE after the presidential election and just ahead of DATE -- affirms the decision by ORG in DATE to begin airing TV ads for its ORG and PRODUCT whiskey.
That ad campaign has unleashed criticism from lawmakers, regulators and President PERSON. And the latest decision is sure to rachet up the debate.
""For DATE, beer and wine have been advertised on television and radio while the distilled spirits industry has upheld its own voluntary ban,"" said PERSON, president of ORG (DISCUS).
""The absence of spirits from television and radio has contributed to the mistaken perception that spirits are somehow 'harder' or worse than beer or wine and thus deserving of harsher social, political and legal treatment.""
The reversal of the voluntary ban was adopted in DISCUS's ""code of good practice.""
The announcement drew an immediate rebuke from the chairman of ORG, who has made it clear he is opposed to the practice and has raised the specter of new rules that would bar such advertising.
""This decision is disappointing for parents, and dangerous for our kids,"" said ORG Chairman PERSON, whose agency has begun a probe of the ad campaign.
Consumer advocates also objected. ""DATE's decision by DISCUS to dump its voluntary ban marks the beginning of an open liquor-marketing season on GPE's children and teens,"" said PERSON of ORG.
He urged President PERSON to renew his appeal to distillers to return to the voluntary ban, and he called on ORG to assist the ORG in its probe.
In ORG, Representative PERSON has offered legislation to make it illegal to advertise hard liquor on radio or TV.
Broadcasters, meanwhile, criticised the distillers' decision but stopped short of refusing to run liquor ads.
ORG advocated to continue leaving the decision on whether to air the ads to individual TV and radio stations.
""We believe this process has served NORP consumers well, since individual stations make and will continue to make judgments DATE on what is most appropriate for their local audiences,"" said NAB President PERSON.","ORG said DATE it expects to take a charge against earnings of MONEY in DATE on its $MONEY-billlion purchase of ORGamp; ORG
In an interview, Aon Chief Executive and Chairman PERSON told ORG, ""There will be consolidating costs that will take place in DATE after we close.""
Those costs will cause the charge, he said. ""It's certainly going to be in the MONEY range ... It's a 'guesstimate' at this stage, but it's in that range.""  
PERSON said PERSON does not expect additional charges beyond DATE.
""But there is a fair value charge that will go into the deal cost,"" he said. ""Space costs and corporate redundancies have yet to be determined ... So it's difficult to say at this point what will be a charge to earnings and what will be an increase in terms of the cost of the deal.""
He added, ""The charge is in that (MONEY) range. I can't get any more precise at this stage.""
GPE-based ORG would become either the largest or ORDINAL-largest insurance brokerage through the deal, he said.  
How the post-acquisition ORG will size up against rival giant ORGamp; ORG GPE depends on how the CARDINAL companies' operations are counted, PERSON said.
""It's not apples to apples,"" he said.
Asked whether PERSON would look to do further acquisitions, PERSON said, ""We've got to digest these.""
In DATE Aon completed a MONEY acquisition of ORG from Inchcape Plc.
""The industry has been consolidating. Certainly, people have been expecting us to continue to be a leader in that. And we had announced that we intended to be,"" PERSON said.  
""We've made what we think to be CARDINAL strategic and good acquisitions. Now we've got to put them together,"" he said.
Aon employs CARDINAL people. ORGamp; ORG, based in GPE, employs CARDINAL.
""We're not in a position to comment on layoffs, other than to say that as you bring businesses together, there obviously will be some redundancies,"" PERSON said.
""There will be some redundancy at corporate and things like that that we have to identify,"" he said.
""Will all employees that are currently employed be employed down the road? That generally is not the case. But I don't think you should look for huge layoffs,"" he said.
Shares in GPE were up CARDINAL to CARDINAL and shares in ORGamp; ORG were up CARDINAL to CARDINAL at TIME on ORG.
-- GPE Newsdesk 312-408-8787",0
"GPE ORG on DATE defended a proposed controversial deal to buy GPE's ORG by pledging to make investments in the company.
The head of ORG and the founder of its parent company tried to allay NORP fears through interviews in CARDINAL leading NORP newspapers, promising hefty investment and a long term commitment to the country.
The chairman of ORG, PERSON, was trying to counter criticism about a NORP company acquiring leading-edge NORP digital television technology cheaply. He said his company would spend MONEY (MONEY) on ORG.
NORP Finance Minister PERSON meanwhile reaffirmed that the government was set on selling defence and consumer electronics group ORG to ORG and ORG even if Prime Minister PERSON wanted a public debate on the sale of the state group.
PERSON told parliament on DATE he would call a debate on the sale, for MONEY, after an MONEY (MONEY) capital injection, in reaction to a public outcry and criticism from opposition parties and also from within his own coalition.
Arthuis dismissed criticism on the government's decision to sell the company by way of a private placement instead of a public sale.
""This is a company that could not be privatised through a public offer,"" Arthuis told reporters at a press briefing on DATE. ""How could we ask several investors to bid on a company with a negative net value.""
Thomson has debts of MONEY.
Lagardere wants to merge ORG PERCENT-owned and profitable defence group ORG with its ORG unit and sell loss-making consumer electronics group ORG (ORG) to ORG.
The state's ORG is currently studying both the preferred bid by ORG and CARDINAL by ORG and is expected to give its opinion in DATE.
The chairman of ORG said his company would spend MONEY on ORG in an effort to still the rising criticism about the deal.
""In total, the immediate cost of acquisition and recapitalisation of ORG for ORG is MONEY. But these CARDINAL are only a ORDINAL stage,"" WORK_OF_ART told ORG newspaper, breaking his self-imposed silence on ORG's bid details.
He said GPE and GPE had increasingly direct links, adding that NORP companies had sold the ORG high-speed train and nuclear power stations to his country and were planning to sell battle planes and other weapons.
GPE's trade minister PERSON is due to travel to GPE on DATE to promote the country's economic interests during a trip lasting until DATE.
GPE hopes to sell ORG combat planes to GPE to monitor its northern NORP neighbour.
PERSON, chairman and founder of the ORG conglomerate, told GPE's ORG newspaper in GPE that big NORP companies would want to see the ORG deal fail.
""Certain big international electronics companies are against ths deal because they believe that the merger would make ORG too competitive,"" Woo-choong said, adding, ""These big companies are perhaps busy lobbying the NORP government.""
Liberation said he referred to NORP companies.
""The NORP government cannot come back on its decision if there is not an important reason to do so,"" Woo-choong said.
($MONEY French Franc)","The planned sale of state-owned ORG to ORG has whipped up a storm of protest which on DATE drove down shares in the NORP company's NORP partner Lagardere Groupe.
Lagardere shares were down PERCENT at TIME on investor worries about the backlash of the ORG sale that risks clouding the outlook for future NORP privatisations.
NORP opposition parties, labour unions and most NORP people, according to polls, are unhappy with the government's plan to sell ORG, the world's ORDINAL biggest television set maker, to ORG for MONEY.
ORG workers protested against the deal on DATE and plan a demonstration in DATE against what they have likened to an enforced ""fire sale"".
The mounting opposition, and the strongly nationalist tone, could augur badly for foreign buyer interest in future privatisations as the government prepares to sell insurer ORG, ORG and ORG.
The backlash also took the steam out of a rally in shares in ORG, which had risen PERCENT after the government announced on DATE that it had selected it over rival ORG to buy ORG (GPE also a leader in the new digital technology.
""Lagardere is down because of the recent news articles that put in doubt the ORG deal,"" a dealer said.
NORP Finance Minister PERSON said on DATE the procedure followed by the government was ""sheltered from all politicial criticism"".
ORG owns PERCENT of defence firm ORG and PERCENT of ORG.
The government tilted toward ORG's bid because of the defense connection. Lagardere plans to merge its ORG unit with ORG and sell TMM to ORG -- also for one franc.
""The public authorities focused on the military aspect of the ORG deal. They neglected the civilian (consumer electronics) aspect...it's now sticking in their throats,"" said the newsletter WORK_OF_ART.
A survey of CARDINAL voters published by the newspaper ORG found PERCENT disapproved of the sale price, saying it did not reflect ORG's value. PERCENT agreed with the government that the price was right given the group's debts.
TMM is saddled with the bulk of ORG debt, expected to reach MONEY (MONEY) by DATE.
PERSON broke its silence on DATE and said it would not have sold control of ORG to a foreign group but put together a CARDINAL joint venture with an NORP partner.
""This new group would have formed the basis of a global industrial project in which NORP interests would have been solidly represented,"" ORG said in a statement.
The newspaper ORG said in an unsourced report on DATE that ORG had also pledged to transfer to the state any capital gain on the sale of part of ORG.
The deal hinges on the approvals of GPE's ORG and ORG, and speculation is rising that the privatisation commission -- which had been expect to make only a procedural review -- may turn into a more serious stumbling block.
The commission, a body of CARDINAL independent experts chaired by PERSON, has the mandate to ensure that any deal reflects the value of the company.
""Of course they can disagree with the government,"" a ORG official said. ""If they agree, the deal can go ahead. If they disagree, the privatisation procedure has to be started over again,"" he added.
($MONEY French Franc)",1
"The top executives of GPE utility ORG were locked in their ORDINAL bid talks with NORP power supplier ORG on DATE to try and hammer out a takeover price.
A source close to the NORP regional electricity supplier said a meeting between ORG's chairman, chief finance officer and lawyers and ORG chairman PERSON and PERSON, the chief executive, and their advisers -- merchant bank ORG -- was starting in GPE at CARDINAL GMT.
No further details were immediately available.
Talks were agreed despite ORG insistence that it would reject any offer from the GPE-based utility pitched at around MONEY per share, which would value the NORP company at MONEY (MONEY).
In the ORDINAL potential GPE bid for CARDINAL of GPE's CARDINAL cash rich regional electricity companies (RECs), ORG said DATE that it was considering an offer ""at a price not much in excess of MONEY per share"".
But GPE, the ORDINAL of its wealthy peers to launch a share buy-back in an attempt to redistribute cash to shareholders, scorned the price, stating that it would undervalue the ORG-based power supplier's prospects.
GPE, the target of consistent bid speculation as CARDINAL of CARDINAL RECs have fallen to predators and an eighth, ORG, is facing its ORDINAL hostile bid, saw its shares end MONEY higher at MONEY.
But some traders and analysts said the market remained unconvinced that the NORP utility would launch a bid.
PERSON, utilities analyst at brokers GPE, said ORG would need to start bid talks at MONEY per share, but added that LOC was unlikely to recommend a bid much below MONEY.
""I do not believe LOC would recommend a bid siginficantly below PRODUCT per share,"" he said. ""I am not saying they would refuse it at the ORG level.""
Traders also emphasised that ORG could still walk away from the bid talks amid regulatory and political uncertainties.
A spokesman for ORG has said the GPE group was well aware of the uncertainties that surround the purchase of a NORP electricity company.
The popular opposition ORG has threatened to impose a windfall tax on utilities if it comes to power in the next general election, due by DATE.
But the GPE group may feel its bid will win approval from regulators. GPE has so far cleared CARDINAL GPE bids for regional electricity companies.
A lull in a wave of bids for electricity companies was brought to an abrupt halt DATE when ORG -- jointly owned by ORG and  PERSON -- launched a hostile QUANTITY bid for ORG.
The ORG-based utility has built up a stake of PERCENT in a series of market raids in ORG, which became the ORDINAL REC to be faced with a takevoer attempt in DATE.
A costly shareholder package in a defence against the unwanted attentions of conglomerate PERSON, now owned by GPE's PERSON, has left ORG with high debts. ($MONEY Pound)","Some of the world's most influential gold producers are upping the ante as DATE's deadline edges closer for GPE's ORG to make a deal with gold giant ORG
At stake is the rich Busang gold deposit in GPE. New estimates released DATE suggest the discovery contains QUANTITY of gold that can be mined at the low cost of $MONEY an ounce.
The NORP government has virtually mandated that ORG must carve up its find, with PERSON getting PERCENT of ORG stake and ORG.
And the government of President PERSON has also made it plain it would ""appreciate"" a stake of PERCENT in GPE.
But now, some major figures in the gold mining world are protesting that the deal ordered by GPE is unprecedented and unfair. They are pressuring GPE to allow rival bids.
""I think it's ORG natural right to have a say who their partner will be,"" PERSON, chief executive officer of GPE-based ORG, said.
GPE, GPE's ORDINAL biggest gold company and CARDINAL of the world's largest, wants to bid on GPE, and PERSON said ORG and ORG have also been at the negotiating table for DATE.
The CARDINAL heavyweight mining companies were abruptly shut out of the process DATE when GPE forced ORG into ORG's arms.
Analysts have speculated that ORG used its business connections with PERSON's eldest daughter, as well as connections through former GPE President PERSON and former NORP Prime Minister PERSON, PERSON advisers, to sway the NORP government.
""We were clearly disappointed -- that's a nice way of putting it -- that all of a sudden the thing went away from us,"" PERSON said. ""Something has been going on that is not kosher in the West.""
PERSON said he thought the NORP government could be persuaded to consider other offers for Busang. Otherwise, the country would face international condemnation and risk losing foreign investment, he said.
""This is indeed unusual. The message to the whole market is we risk our money big time to find gold, and if we really find the jackpot, somebody's going to come along and tell us what to do with it.
""It would put a great big red flag on GPE.""
Placer, GPE and Teck must now await word from GPE on whether they will be allowed back into the bidding process.
GPE's consulate in GPE declined to comment on the matter DATE. ORG also would not comment.
Teck's chief financial officer, PERSON, said the company would consider bidding for GPE if GPE opened the door to an auction process, but would likely seek a partner in any bid.
""That's a pretty big bite,"" PERSON said.
PERSON, however, noted GPE could comfortably afford to take on Busang alone, despite a recent MONEY bid for a larger stake in GPE ORG gold deposit.
He would not say what price ORG was willing to offer, but ""it's clearly worth considerably more that what's being contemplated,"" he said after looking at the new resource calculations for Busang.
The resource calculations are in line with analysts' expectations, said mining analyst PERSON with ORG in GPE, who noted that most analysts believe GPE holds a lot more gold than has already been outlined.
ORG said he was not concerned about the DATE deadline ticking past without news from GPE.
""My take on it is that the NORP government imposed this DATE deadline primarily as a means to facilitate bids and get the process moving,"" he said. ""You get everyone who is interested and serious stepping up.""
But analyst PERSON with ORG in GPE expressed doubts about the NORP government soliciting more suitors for ORG ""Why should the NORP government provide the market with a bidding process just because we want them to?"" she said.
LOC gold miners are not alone in seeking a piece of Busang. PERSON NORP partner PERSON has claimed PERCENT of the deposit. And the former NORP owners of the property say they also have rights to part of the riches.",0
"ORG cargo load factor dropped PERCENT in DATE compared to DATE period, the airline's official traffic results provided to ORG show.
The cumulative cargo tonnage carried to DATE was QUANTITY, a rise of PERCENT over DATE QUANTITY, the figures show.
International cargo in DATE was up PERCENT on DATE to QUANTITY, bringing the cumulative total to QUANTITY, an PERCENT rise.
Domestic cargo in DATE reached QUANTITY, an increase of PERCENT from DATE, the figures show. The DATE's total cargo tonnage of QUANTITY is PERCENT up on DATE.
Load factors for DATE were PERCENT for international cargo in DATE down PERCENT DATE. The domestic cargo load factor fell PERCENT to PERCENT. DATE.
The cumulative totals are down PERCENT on DATE compared to DATE and PERCENT down on DATE so far.
The international cargo flight tonnage kilometres (FTK) totals for DATE increased PERCENT to CARDINAL from CARDINAL DATE.
The DATE FTK domestic total is up PERCENT from CARDINAL CARDINAL. The cumulative FTK total is PERCENT higher at CARDINAL.
ORG also reported an PERCENT increase in the number of passengers carried in DATE at CARDINAL. -- PRODUCT Tel+44-171-542-7706 Fax +44-171-542-5017","Family controlled food and retailing group ORG reported a PERCENT increase in DATE profits on DATE, but chairman PERSON sounded a wary note when asked DATE.
""I never play hostage to fortune. I've always been cautious,"" said PERSON in an interview. ""It's a very bad time to forecast anything with CARDINAL elections coming up -- in GPE and Britian. We have no idea how they will impact on us.""  
ORG posted pretax profits of MONEY (MONEY) for DATE whereas most stockmarket forecasts had centred on CARDINAL.
Worldwide sales were up PERCENT to MONEY. Profits were driven by an especially strong performance from the company's retail operations in GPE and GPE. Operating profits rose PERCENT to CARDINAL, with the company's supermarkets in GPE further increasing their market share.
Primark, the women's textile chain, included results from CARDINAL Up stores bought from ORG DATE.  
""We got the fashion right. Primark has been refurbished and that improved its buying power and gave it more notice on the high street."" In DATE LOC was more in tune with public demand, said GPE.
ORG's food manufacturing and processing operations in GPE showed an PERCENT sales growth to MONEY and a PERCENT profits increase to CARDINAL.
However, operating profits from ORG fell to CARDINAL. ORG sales are limited by NORP community quotas and the renewed strength of the pound made imports from mainland LOC look cheaper in DATE.  
ORG's profits from its GPE and GPE operations increased by PERCENT to CARDINAL.
PERSON, acquired from ORG in DATE, chipped in its DATE of profits to ORG's north NORP business to help turn a CARDINAL loss in DATE to a CARDINAL stg profit.
Analysts were surprised by the stronger than expected performance from ORG's milling and baking business where margins improved strongly. ORG owns the FAC group of companies, ORG, ORG and an animal feed business.  
""They were good numbers a bit ahead of our figures, but it will be hard to match that in DATE,"" said PERSON, analyst at ORG. ""The green pound rate is likely to mean a reduction in LOC profits and inflation in food prices looks very subdued,"" he said.
ORG shares rose CARDINAL to CARDINAL on the news.
Net cash held by the company rose by CARDINAL to CARDINAL at DATE, after spending CARDINAL on its assets and acquisitions during DATE.
The company is keen to expand in LOC and although ORG's history is one of expansion by organic growth if the oppurtunity arises it will make acquisitions, said GPE.
""We have been picking up acquisitions and if opportunities come along for something big then we will take it,"" he said.
During DATE ORG acquired or formed businesses in GPE, GPE, GPE and GPE. ($MONEY Pound)",0
"GPE's ORDINAL-generation, MONEY foreign oil projects are finding out that close ties to top government figures, delicate talks with new partners and careful handling of oil-rich, ambitious regions are vital.
Western oil companies eyeing ORG reserves need close ORG relationships and savvy negotiating skills more than ever, now that GPE has a cooler, tougher attitude toward Western participation in oil production-sharing deals.
Support from President PERSON, who oversaw the transformation of the oil sector into privatised companies and who underwent heart surgery on DATE, is crucial.
So is a willingness to get out the pencils and redo budgets after talks with increasingly demanding NORP partners.
The factors -- some old, some new --  will decide whether deals stay on the drawing board or get off the ground.
In CARDINAL of GPE's most prominent projects, ORG of GPE and NORP oil giant YUKOS are in tortuous talks that, analysts said, revolve around how to accomodate ORG shareholder ORG.
""Any time you add a new player to the game, you need to re-establish what the ground rules are,"" said PERSON, senior vice-president and resident manager of ORG, in a recent telephone interview.
Leading commercial bank ORG owns a PERCENT stake in ORG, GPE's ORDINAL largest oil producer, and controls a further PERCENT stake formally owned by the government.
The CARDINAL companies plan to spend MONEY or so to tap the huge PRODUCT oil field, which could hold CARDINAL recoverable tonnes, in LOC's Tyumen region.
GPE's ORDINAL-generation foreign oil deals, all off ORG island of LOC, took forever to hammer out but largely gave Western partners the leading equity stakes they demanded as insurance for the political risk of investing.
Now, DATE, GPE officials say quietly that GPE should have at least equal status, if not the upper hand.
That makes ORG and ORG patronage as important as ever to getting deals to the production stage.
Succesful implementation of projects is still heavily dependent on people at the top, like PERSON -- thus showing the enduring power of personalities to moving oil deals forward in GPE, in spite of GPE's moves to make laws, not people, the framework for investments.
ORG, or ORG, which groups ORG, ORG, ORG, ORG GPE's PRODUCT and an exploration outfit in a MONEY project in the NORP-Pechora basin, saw negotiations temporarily halt over the unexpected death of a key NORP negotiating partner.
TPC President PERSON said he was confident talks to tap QUANTITY of oil would continue with a special NORP delegation after ORG selects a replacement for deceased delegation leader PERSON, who was also a deputy Fuel and Energy minister.
""We are hopeful to continue our negotiations with the special delegation,"" ORG said.
""There are very few remaining outstanding issues. I certainly wouldn't draw any conclusions that there have been a lack of negotiations or a termination of discussions.""
Both Westbrook and PERSON declined to say when their projects could be finalised.
Western oil companies have a new worry -- the growing demands by oil-rich regions for a bigger cut in deals.
Interfax news agency DATE quoted the chairman of ORG lower parliament house's ORG as saying that the Nenets regional PERSON had recommended the government break off talks with ORG over regional tax issues.
-- GPE PRODUCT, +7095 CARDINAL 8520","GPE's aluminium industry, in private hands and learning market-savvy moves in ways its former state owners never could, still holds surprise cards but may no longer terrorise world markets with sudden, secret exports.
Metals analysts said on DATE that GPE, which accounts for PERCENT of world output, would not cut production or exports in DATE even in the face of rising costs at home, low margins and weak world prices.
Instead, smelters -- now mostly in private hands after DATE of turbulent shareholder battles -- would do all they could to turn profits.
""What has happened over DATE in particular is that ownership has settled down so that you can be fairly sure of the conduits of the smelters' metal,"" said a senior GPE metals trader who declined to be identified.
""They will continue to sell the metal, come what may.""
GPE, fresh off a DATE global output cutting agreement that expired DATE, seized the opportunity to restart some idled capacity and increase exports.
The increases laid to rest market talk that GPE wanted to craft a new output cutting deal to boost low ORG prices. But analysts still wonder how much NORP aluminium could flood onto sensitive markets.
Asked if GPE had learned anything from the DATE memorandum of understanding that reduced global output PERCENT to draw down bloated stocks, the senior GPE source said, ""It has not learned. I don't think they care.""
Igor Prokopov, director of ORG, the producers' group uniting GPE's aluminium industry, said DATE primary aluminium output would rise PERCENT from DATE to QUANTITY.
Production could rise another PERCENT in DATE.
The group put DATE primary aluminium exports at QUANTITY, against what it said were CARDINAL in DATE.
""Some noise has appeared in the LOC that GPE has cranked things up, which is not really true,"" ORG said.
But CARDINAL base metals analysts said the figures seemed on the low side and NORP smelters had undoubtedly increased output.
But they have done so while consolidating sales operations to try to make more money on exports, which has introduced more transparency into deliveries abroad.
Shareholders, many of them Western commodities power houses, were having a greater hand in that transparency, since they were increasingly buying direct from smelters.
ORG of GPE, Glencore AG of GPE and GPE-based powerhouse ORG and its units already have major stakes in NORP smelters.
Analysts said the ORG smelter, the world's largest, with DATE capacity of QUANTITY, had major plans to modernise with the help of a top NORP industrial firm.
ORG DATE aluminium futures are MONEY a tonne, clawing back from DATE's DATE low of $MONEY but below a $MONEY in DATE, the last major peak.
Prices had been even lower before GPE and CARDINAL other countries -- GPE, GPE, GPE, GPE and ORG -- signed the DATE accord. The CARDINAL said GPE was to blame because it had flooded markets with metal.
Those exports were largely orchestrated by the state, which needed cash to fill its coffers.
Now smelters say they are reining in trade and marketing operations to be closer to markets in a way that NORP-style ministries in GPE were not.
""Integration could have a positive affect,"" ORG said, citing expense rationalisation and consolidated balances.
GPE is an aluminium powerhouse because its NORP smelters, which account for PERCENT of output, have endless, cheap hydroelectricity generated by rivers.",1
"The world's biggest mining house, ORG, is set to report a sharp fall in DATE profit DATE after shouldering a slide in metal prices during DATE and battling problems with its GPE copper smelter, mining analysts said.
The group, which has operations spanning the globe, is on average expected to post a PERCENT fall in net profit before exceptional items to MONEY for calendar DATE, a ORG survey of CARDINAL NORP brokerages revealed.
The NORP-Australian miner made MONEY in DATE.  
The analysts' forecasts range MONEY, although private forecasting service ORG quoted much lower numbers in a survey DATE.
The culprits behind ORG-ORG's profit slump are seen as the copper price, which dipped below MONEY a pound after the ORG trading scandal erupted in DATE, a sick aluminium price, down PERCENT in DATE, and problems with the flagship GPE copper smelter in GPE.
Together, copper and aluminium earned PERCENT of ORG-ORG's total revenue in DATE, and metal prices were promising enough DATE for the group to talk of higher earnings.  
But metal prices caught cold and the prospects of improved profits also began to look sick DATE, when the ORG trading scandal involving trader PERSON sent international copper prices crashing.
""Everything peaked ahead of this GPE copper thing,"" said PERSON of ORG.
""Most commodities slid from DATE on through to about September, DATE and there's been a bit of recovery in most metal prices since that time.""  
RTZ-CRA's iron ore business was also a disappointment, CARDINAL analyst said, noting that sales for DATE dropped PERCENT despite a lift in annual output.
Adding salt to the wound, the gold price also languished. Gold is a sensitive area for the mining giant, since it is fundamentally opposed to selling its production forward at a fixed price to lock in revenue.
RTZ-ORG's coal mines are also not expected to have relieved some of the pain inflicted on the group by weak prices.
CARDINAL analyst expects coal earnings to fall PERCENT in DATE.  
RTZ-ORG's troubled GPE smelter has stirred the deepest concerns among analysts, who have been waiting for the new plant to get it right after DATE of hobbled operation.
""That's going to knock it (the result) around a bit,"" a GPE-based analyst said.
The smelter is still not operating at full capacity and now faces a DATE shut-down soon for major modifications.
Copper division earnings are forecast to plunge by PERCENT, according to ORG forecast.
Still, the brokerage likes the group's long-term prospects.  
""They have a very, very strong organic growth profile,"" said ORG analyst PERSON. ""They have very substantial expansions coming up,"" he added.
These include expansions of the ORG copper mine in GPE and the GPE copper and gold mine in GPE, as well as a stake in new gold mine on GPE LOC. PERSON is PERCENT owned by ORG, which owned PERCENT owned by ORG-CRA
""They have a very substantial exploration areas and a lot of very, very profitable projects in the pipeline,"" PERSON said.
-- ORG CARDINAL-2 9373-1800","Partners in NORP aircraft consortium ORG must speed up plans to convert the partnership into a single company after news of a merger between its CARDINAL GPE competitors, an aerospace executive said on DATE.
ORG and ORG announced a MONEY merger plan which would create the world's largest aerospace firm, with DATE sales of MONEY and employing CARDINAL people, dwarfing rival ORG.
The merger meant ORG shareholders had ""to get their act together quickly"", said the executive, who asked not to be identified.
ORG is a consortium made up of GPE's ORG, ORG (BAe), ORG, a unit of GPE's ORG, and ORG (ORG) of GPE.
An ORG spokesman said the GPE merger would not alter the competitive threat to ORG: ""(ORG) PERSON hasn't been a competitor in the civilian aircraft business for DATE,"" the spokesman said. ""So it hasn't altered the equation in the commercial field at all for ORG.""
ORG is effectively swallowing up ORG, he said. ""It was expected PERSON would have to look in the civil field for its fortunes elsewhere, or merge, or opt out of the business altogether,"" he said. ORG was the obvious merger candidate.
GPE decided in DATE to drop plans to build FAC wide body passenger jet, which would have doomed it to niche player status with its CARDINAL current products, the MD-11 and MD-80/90.
ORG, which has historically held around a PERCENT market share, with ORG PERCENT and ORG, wants CARDINAL the market by DATE.
ORG expects to notch up firm orders for CARDINAL aircraft in DATE, worth MONEY, compared to CARDINAL sales DATE, worth MONEY. ORG said it has received orders for CARDINAL planes at DATE.
The ORG partners, who are also ORG subcontractors, are in talks on how to change the grouping into a joint stock company from the present ""groupement DATE economique"" (economic interest group) partnership. The aim is to create a more competitive and responsive organisation.
""The need for the NORP to integrate becomes more urgent,"" said the executive who spoke on condityion of anonymity. The merger move showed ""the arguments (between partners) are trivial"".
BAe's group managing director PERSON has said the future ORG should be a large, integrated company with design offices and manufacturing and sales functions, and have a solid balance sheet to finance aircraft sales, to better rival ORG.
But ORG's chairman PERSON has said he sees the new ORG as essentially a large prime contractor, directing its suppliers' work but retaining its design offices.
Some executives see the design office as the heart of the business, with the ability to create new aircraft. ORG's design offices are in the southwestern NORP city of GPE, next to ORG headquarters.
Eventually, BAe wants ORG to be the civilian arm of a huge pan-NORP aerospace grouping, with a military wing to build future generations of combat planes, built from the national companies.
But for the time being, the partners also need to resolve differences over the valuation and transfer of assets.
The ORG negotiations slowed over DATE, when the NORP government moved the then chairman, PERSON, to the helm of troubled state railway operator ORG and promoted his CARDINAL, PERSON.
An agreement was due to be signed by DATE setting out the main lines of the new ORG but the industry executive said the talks are due to last up to DATE.
GPE broker ORG has estimated ORG could be worth MONEY after its conversion, based on historical and prospective financial data.
The internal debate over the shape and scope of the future ORG has run on for DATE, with managing director PERSON a fervent enthusiast for an integrated company. The new ORG company is supposed to be formed by DATE.",0
"PERSON, the NORP-born mogul who turned his father's newspaper business into a global media empire, is publicly grooming the next generation to succeed him.
But the DATE who has transformed the industry worldwide still has a few more ambitions to achieve before he passes on the baton to his heirs and settles into retirement.
Instead of rolling up their shirtsleeves and getting inked up on the printing presses as PERSON did, his eldest son PERSON and daughter PERSON will be dealing with the latest in digital technology and multi-channel television satellites.
With the dawning of the digital age, television is the business that PERSON sees fuelling the next stage of growth of ORG conglomerate built from the small beginnings of his father Keith's Adelaide newspaper.
The TV business already produces the most revenue of ORG CARDINAL main operations -- newspapers, magazines, films and book publishing. ORG recorded total revenues of MONEY (MONEY) in DATE.
ORG, A FAMILY BUSINESS
Lachlan, DATE, and PERSON, DATE, are already familiar with the television business. PERSON owned and operated CARDINAL TV stations in GPE before selling them DATE to join ORG (BSkyB).
PERSON's other son, PERSON, and daughter Prudence are not involved in Dad's business, but his wife PERSON is on the board of ""News"", which is about PERCENT owned by the PERSON family.
""Obviously he is lining up people to help,"" said a GPE based media analyst.
At DATE, PERSON has passed ORG own retirement age but with the business just entering a new phase of expansion he is not about to leave yet.
""News Corp is still being formed, that is why there is not much chance of him walking away DATE,"" said the GPE analyst, referring to ORG expansion in satellite and cable TV.
The analyst said either PERSON or Lachlan would probably work in ORG GPE business, before they could take over.
At DATE, PERSON was appointed head of programming at BSkyB, which is PERCENT owned by ORG The NORP-based satellite TV operation nearly sank ORG in debt DATE, but has become a river of cash.
DATE before his sister's promotion, PERSON was appointed managing director of ORG, the NORP arm of ORG
""WORK_OF_ART job is to get pay TV up and running (in GPE),"" said CARDINAL GPE analyst of ORG PERCENT interest in ORG, a cable TV network launched DATE.
PERSON has placed both his children under the tutorage of CARDINAL of his loyal lieutenants, BSkyB managing director PERSON and ORG chairman PERSON.
Most PERSON watchers see PERSON as the favourite to step into his father's shoes because of his appointment to the key CARDINAL-strong executive committee of ORG, which is separate from the company's board of directors.
""You can't consider PERSON a real contender for the top job until she gets on that board,"" the GPE media analyst said. He added that she would have to take PERSON's job at BSky to get onto the executive committee.
""That is not going to happen for a while, whereas PERSON has got the job of managing director of GPE and he is on the executive committee -- so that tells you who is the favourite right now,"" the analyst said.
Lachlan's growing confidence was evident recently at ORG DATE meeting in GPE, where the PERSON graduate and rock climbing enthusiast firmly guided his father away from an impromptu press conference after the DATE meeting.
DATE the young PERSON stayed firmly in the background as his father spoke about all.
""We have to go, I'm sorry,"" Lachlan told reporters firmly, ushering his father away once the questioning turned to the thorny matter of NORP media ownership rules.
EXPANSION THE NEW MURDOCH WAY
Since he inherited his father PERSON's newspaper stable in DATE, PERSON built his media empire by raising large slabs of debt -- often to the annoyance of his shareholders.
But in a move welcomed by analysts, PERSON has said ORG future growth is likely to be based on a more conservative financing strategy.
""We now have MONEY in the bank and we intend to leave it there,"" PERSON told ORG DATE meeting.
This is a far cry from the dark days of late 1990 and DATE, when PERSON had to beg his bankers to get them to reschedule MONEY in debt after ORG said it would be insolvent if the refinacing package was not completed.
PERSON said News ORG's multi-billion dollar plans for pay television networks in GPE, LOC, GPE, LOC and GPE would be financed from cash flow.
Analysts say PERSON is unlikely to leave until he has widened ORG world television network reach and increased the company's reservoir of programming content.
""I think geographically he is almost there. There are CARDINAL areas he doesn't have exposure to, they are GPE, LOC and LOC,"" said CARDINAL analyst.
""I don't think he is very interested in LOC, GPE is very difficult for foreigners from what I understand. But, I think there is a chance at some stage that LOC might be in his sights,"" the analyst added.
PERSON will have to build up ORG programming further, particularly in film, analysts said. They said News is strong in sports and now news following the launch of the TIME a day ORG channel launched on DATE.
""Sports, movies and news are the focus, but it wouldn't surprise me that he would have something to do with music as well at some stage,"" said a GPE-based analyst. ""If you think about the sort of content you can take from CARDINAL country to another, sports is obviously one, then news and film and the other one to my mind would be music."" (A$MONEY = $MONEY)","NORP mineral sands and base metals miner ORG reported on DATE that it had doubled DATE operating profit for DATE, thanks largely to a boom in demand for aircraft and golf clubs.
ORG, PERCENT owned by NORP conglomerate PERSON, reported a PERCENT rise in operating profit to MONEY (MONEY) for DATE.
And it said it was on the lookout for expansion opportunities in GPE, GPE, GPE and the GPE.
The higher profit was due to improved mineral sands demand and prices, together with a stronger tin price and output, chairman PERSON told reporters on DATE.
""It was a good result and was in line with market expectations,"" ORG mining analyst PERSON told ORG. ""The mineral sands division did very well and there was an improvement in the tin business too,"" he said.
The higher mineral sands and tin prices helped lift sales PERCENT to MONEY in CARDINAL.
ORG, which tussles with NORP miner ORG for the title of the world's largest mineral sands miner, has PERCENT of the world market for titanium dioxide (PERSON), which is used to make titanium metal.
""With PERSON we have good news and bad news,"" ORG managing director PERSON told reporters. ""The good news is that GPE growth forecast is very strong, CARDINAL to four percent, and there is strong titanium metal demand particularly because of some aviation growth and also of golf clubs.
""Titanium is now a favourite material to make golf driver heads,"" Bethwaite said.
As for the bad news, ORG said: ""In the GPE and in LOC there is something of a price war going on.
""So prices are taking quite a battering,"" he said.
ORG, which has operations in GPE, GPE, GPE (ORG) and GPE, was also keen on expanding to other countries, including GPE, GPE, GPE and the GPE, for mineral sands and base metal exploration, he said.
""What we are saying there is that we are ready and able to joint venture particularly with junior (small miners) and governments, where they seek a strong partner in both financial and technical capacity,"" he said.
The GPE-based miner said it was CARDINAL of CARDINAL companies on the short-list to buy the tin assets of the NORP state-owned ORG mining corp, which include a tin smelter and CARDINAL mines.
""We are on the short-list for what is called the capitialisation of COMIBOL tin assets. There were CARDINAL parties, there are now CARDINAL, including ORG as one,"" Bethwaite said.
If ORG was successful with its tender to acquire the tin assets in the land-locked NORP nation it would become one of the world's largest tin miners, he said.
ORG produced QUANTITY of tin in concentrate in DATE. The CARDINAL NORP tin mines up for sale would increase the group's DATE tin output to QUANTITY.
The world's largest tin miner is ORG of GPE, which is expected to produce QUANTITY in DATE.
Despite the better-than-expected profit, ORG shares rose MONEY on light volume.
(A$MONEY = US$MONEY)",1
"Fast-growing ORG, which is led by GPE entrepreneur PERSON, said DATE it would buy ORG for MONEY in a move to sharply expand its automobile business.
The deal comes DATE after the collapse of ORG's MONEY plan to buy security firm ORG
""Leisure travel is a fast growing segment of the automobile rental industry and FAC's innovative leadership in this growth sector of the automobile rental marketplace is consistent with our strategy of building consumer-oriented, service related businesses with recognised brand names and strong management,"" PERSON said in a statement.
Republic is expected to use FAC to expand its burgeoning auto business rooted in used-car company ORG.
Huizenga ""wants to be the largest used-car sales, leasing and rental provider. It makes sense to have the FAC fleet as a warehouse for his vehicles,"" said PERSON, analyst at ORGamp; Co.
Alamo is the ORDINAL-largest rental car company in GPE, with a fleet of CARDINAL vehicles. Alamo operates in CARDINAL states in GPE and has operations in CARDINAL NORP countries and GPE.
Alamo founder and Chairman PERSON, who owns PERCENT of the company, will continue as chairman of FAC.
ORG said ORG's ORG car business will benefit from FAC's strong relationships with manufacturers and other automotive suppliers.
""The combination of FAC with Republic's 'like-new' automobile retailing concept is an exceptional fit that will enable ORG to accelerate its business plan and create a unique, dedicated and predictable source of inventory for our megastore distribution system,"" he said.
Republic bought used-car company ORG DATE and opened its ORDINAL superstore DATE in GPE. It plans to open CARDINAL more ORG stores DATE and quickly expand the chain so there are some CARDINAL stores around the nation by DATE.
ORG will be supplemented by ORG's recent MONEY purchase of used-car superstore firm ORG
Investors praised the latest acquisition by Republic, bidding the company's stock up $MONEY to $MONEY on ORG. The deal will be accounted for as a pooling of interests.
In addition to the automotive industry, ORG specialises in electronic security and solid waste companies. ORG also owns the professional GPE Marlins baseball, Panthers hockey and NORP football teams.
Huizenga suffered a setback in DATE when his plan to buy security firm ORG was called off after DATE of uncertainty. Although the stock deal was viewed positively from a strategic standpoint, it fell apart due to volatility in ORG's stock and the inability of the companies to revise terms of the transaction.
Analysts saw little chance of that happening with FAC.
""I think FAC provides GPE everything that ORG did, plus more, from the auto side,"" said PERSON of ORG, who rates ORG shares as a buy.
Republic also said it will pursue more car deals.
""We're interested in growing in virtually every segment of the automobile industry,"" spokesman PERSON said, citing rental, used cars, repairs and financing.
The acquisition of FAC marks the latest in a flurry of transactions in the rental car industry.
On DATE, ORG said it planned to sell its GPE auto-auction business, ORG. The unit is the nation's ORDINAL-largest automobile auction company, and its sale would mark ORG's complete exit from that business after it sold its NORP auto-auction unit DATE.
DATE, hotel and real estate operator ORG bought ORG, the world's ORDINAL largest car rental company, for MONEY. ORG has said it will pursue another similar acquisition and launch an initial public offering for part of its rental car subsidiary DATE.
ORG, which owns ORG, in DATE announced it was expanding its rental car business with the acquisition of ORG-a-Car. ORG already had owned part of ORG.
Meanwhile, ORG wants to sell subsidiaries Dollar Rent-A-Car and Thrifty Rent-A-Car.","NORP activists, in a statement on TIME ahead of a visit by the GPE Secretary of ORG, protested against NORP backing for GPE's bid to become a permanent member of ORG.
""We hold that GPE is not qualified to become a permanent member of ORG,"" the activists said in a letter to GPE Secretary of ORG PERSON, who is due to arrive in GPE later on DATE for a DATE visit.
The letter, signed by CARDINAL activists, said they opposed GPE becoming a permanent member of ORG because many NORP politicians had been reluctant to apologise for its war atrocities and had tried to whitewash history.
GPE says CARDINAL people were killed or wounded during GPE's invasion and occupation of most of GPE from DATE.
""(We) strongly protest the GPE government supporting GPE's (bid) to become a permanent member of ORG to draw GPE over to its side,"" said the letter, a copy of which was made available to ORG.
PERSON, a leader of the group, said he would forward the letter to PERSON through the GPE embassy in GPE.
The NORP government, eager for more low-interest loans from GPE, has been reluctant to antagonise GPE and has not taken a public stance on the issue.
GPE has long supported giving GPE and GPE permanent seats on ORG.
The council currently consists of CARDINAL permanent members that were the main victors in EVENT -- GPE, GPE, GPE, GPE and GPE -- and CARDINAL non-permanent members who serve DATE terms.
Most NORP have been slow to forgive GPE's war past.
""GPE backing for GPE's (bid)...will undoubtedly encourage the resurrection of NORP militarism and bring a new threat to the peace and stability in LOC,"" the letter said.
The NORP activists recounted what they said were GPE mistakes, including not putting Emperor PERSON on trial after the end of EVENT in DATE.
""After the end of the war, GPE harmed the feelings of the NORP people several times...sheltering GPE's top war criminal Emperor PERSON,"" the letter said. PERSON died in DATE.
The activists also faulted GPE for ""ignoring historical facts"" and handing disputed islands in LOC to GPE in DATE.
NORP ties were strained DATE over the islands, which GPE calls the ORG and GPE the ORG.
A NORP right-wing group built a makeshift lighthouse on CARDINAL of the islands in DATE, triggering NORP demonstrations in GPE and GPE.
GPE's NORP rulers, who lost the Chinese civil war to the NORP in DATE, also claim the islands. Activists in the NORP colony of GPE, which reverts to NORP rule in DATE, have opposed GPE's territorial claims.
Emotions were fanned in DATE when a GPE activist drowned after he jumped into stormy waters around the islands to demonstrate support for NORP claims.",0
"New pickup trucks and sport/utility vehicles helped ORG DATE profits nearly double to MONEY, the company said DATE, but it alarmed analysts with growing losses in LOC.
ORG eeked out a MONEY profit from its worldwide automotive operations -- versus a loss of MONEY DATE -- as GPE automotive net income of MONEY was offset by a loss of MONEY from GPE regions.
ORG's DATE profits, which amounted to MONEY a share, compared with MONEY, or MONEY a share, in the DATE period. The latest results were in line with Wall Street expectations.
Results from ORG finished a strong third quarter for GPE's Big Three. The companies posted combined net profits of MONEY, more than twice the MONEY they reported DATE.
Although there were some favourable CARDINAL-time events, the Big Three have digested heavy launch costs and reaped the benefits of a PERCENT volume increase, said PERSON, an analyst at ORG
In DATE, ORG's NORP loss widened substantially to MONEY from a MONEY loss DATE, surprising many analysts.
""The size of the loss was enormous,"" ORG said.
ORG blamed new product launches, adverse vehicle mixes and continued high marketing costs. Vice President PERSON said the automaker is taking steps to cut costs by reviewing product, material, personnel and plant expenses.
In a sign of how seriously it is taking the situation, ORG Chairman PERSON was on his way to visit operations in LOC, and Chief Financial Officer PERSON was scheduled to leave for LOC DATE.
""We were unhappy with our NORP results,"" McCammon told reporters, adding that he hopes the situation can be turned around by DATE.
Although McCammon said the DATE results will be up from the MONEY ORG earned in DATE, analysts indicated they would be trimming their estimates because of a MONEY DATE charge to cover early retirement costs for CARDINAL salaried employees.
Devine told analysts that LOC will post a loss similar to the MONEY deficit of DATE because of continuing start-up problems in GPE.
""GPE is likely to be just as bad"" in DATE, said PERSON, an analyst at ORG.
PERSON bottom line was another strong performance from its ORG. The unit earned MONEY, including a gain of MONEY from the sale of ORG assets, compared with a profit of MONEY in DATE.
The ORG, ORG's consumer finance unit, reported DATE earnings of MONEY, a record for DATE. However, ORG earnings slipped to MONEY from MONEY DATE, reflecting higher credit losses.
The company's earnings were negatively affected by a MONEY charge to cover the costs of early retirements for GPE salaried employees.
In the GPE market, the latest results were spurred by strong acceptance of new light truck products such as the F-Series pickup truck and new ORG full-size sport/utility vehicle, ORG said in a statement accompanying the results.
DATE revenues climbed to MONEY from MONEY. Worldwide vehicle unit sales in DATE were also up, increasing to CARDINAL from CARDINAL.
But the automaker lost market share in both GPE and western LOC. ORG ended DATE with PERCENT of the GPE car and truck market, down from PERCENT in both DATE and DATE.
ORG lost a full point of market share in western LOC, falling to PERCENT from PERCENT in DATE. ORG's share in DATE was PERCENT.
ORG said ORG expects GPE total vehicle sales to be CARDINAL for DATE, about in line with its earlier forecasts. The industry had CARDINAL sales in DATE.
In LOC, ORG forecasts industry sales at CARDINAL for DATE, up from CARDINAL in DATE. ORG expects moderate economic growth to continue in its major worldwide markets, providing for stable industry sales volumes.
ORG's stock lost MONEY to end at $MONEY on ORG.","ORG is expected to use the biennial Farnborough Air Show in GPE DATE to formally launch the long-awaited stretch version of its PRODUCT jumbo jet, industry analysts say.
While officials of the aerospace giant remain tight-lipped, analysts say it is all but certain executives will make a major announcement on DATE regarding CARDINAL new members of the PRODUCT family that will be known as PRODUCT and PRODUCT.
""They're going to announce the airplanes -- there is no doubt,"" said PERSON, an analyst at ORG
He said the only question was whether ORG would announce massive orders of MONEY or more from launch customers or merely disclose that its board of directors had given authorisation to offer the jet.
The announcement of the new models, which would include a jet with PERCENT more capacity than DATE's largest commercial airliner, is expected to be the highlight of the air show, frequently the stage for major order announcements and other industry news.
ORG officials have said they are talking with CARDINAL airlines about the potential new versions of the jumbo jet, including ORG, ORG and ORG ORG.
ORG President PERSON said the company's board of directors discussed the new plane at a regularly scheduled meeting DATE but had not made a decision on whether to launch it.
""That will depend on airline orders,"" he said in a brief interview DATE.
Specifications being circulated within the industry call for the PRODUCT to hold CARDINAL passengers in a typical CARDINAL-class configuration with a range of QUANTITY (QUANTITY), compared with CARDINAL passengers and QUANTITY (QUANTITY) for the current-generation PRODUCT.
The long-range PRODUCT would hold CARDINAL passengers in CARDINAL classes and have a range of QUANTITY (QUANTITY).
Analysts say the PRODUCT stretch is essential for ORG to continue dominating the lucrative top end of the market -- which it has had to itself since the introduction of the CARDINAL-engine jumbo jet in DATE, which nearly bankrupted the company.
Now ORG's own new CARDINAL twin-engine jet is replacing older 747s, and possible new versions of jets from rivals ORG and ORG could threaten the lower end of the jumbo market.
""They really do need to be able to move up to again have a position of complete monopoly for the aircraft as they have had for DATE,"" said analyst PERSON of ORG.
Meanwhile ORG has signalled that it intends to go ahead with plans for its own all-new CARDINAL-seat plane, dubbed the CARDINAL, although analysts question whether the market for jumbo jets is big enough for CARDINAL manufacturers.
""From an economic point of view, I don't think there's enough demand to justify the $MONEY (billion) to MONEY cost"" of an all-new jet, said PERSON of ORG.
He and other analysts said they expect air travel in the fast-growing LOC region to follow the LOC in migrating to pairs of smaller cities rather than routes between world capitals that require the largest jets.
The trend toward such more thinly travelled routes was among the reasons cited by ORG when it shelved a project to jointly develop with ORG a double-decker airliner that would hold up to CARDINAL passengers.
But ORG's ORG predicted LOC's ORG, which is transforming itself from a consortium into a single company, would go ahead with its own jumbo jet for commercial delivery in DATE, DATE after ORG's new PRODUCT models.
""They're not going to leave ORG alone at the upper end,"" he said.
ORG estimated that ORG's PRODUCT revision, which would include a new wing, new engines and possible new cockpit electronics, would cost from MONEY to develop.
Rolls-Royce Plc has said it plans to offer a variant of its Trent turbofan engine to power the new ORG craft, while rivals ORG and ORG ORGamp; ORG unit have formed a joint venture to develop an alternative power plant.",0
"ORG is expected to report solid DATE earnings DATE, but because its new mainframes did not ship in big volumes until DATE, analysts said they do not expect any big upside surprises.
According to ORG, the computer giant is expected to report earnings in the range of $MONEY to $MONEY a share, with a consensus estimate of $MONEY a share, versus $MONEY DATE.
ORG is also expected to have a negative impact from currency moves, but not as big as its hit in DATE.","Negotiations between ORG and its pilots union continued into TIME of DATE, with neither side reporting any breakthrough that would avert a midnight strike at the nation's number-CARDINAL carrier.
A federal mediator refereeing the talks at a downtown hotel informed the pilots that NORP had rejected a key union contract proposal covering who should pilot -- and at what pay -- the carrier's smaller NORP ORG planes.
Mediators are shuttling back and forth between the CARDINAL sides offering hypothetical ""what if"" proposals on a variety of issues in an effort the bring the CARDINAL sides closer together and prevent a DATE (CARDINAL GMT DATE) strike by the pilots which would throw the nation's air transport system into turmoil.
""They're going to work TIME, throughout TIME. All day (DATE),"" said PERSON, a spokesman for ORG, which represents ORG's CARDINAL pilots.
He said the union is ""disappointed at the lack of progress"" so far.
""We will continue to negotiate for as long as it takes. But (DATE) TIME at TIME the pilots will be on strike.""
ORG said no face-to-face talks had as yet been scheduled. An NORP spokesman would only say that the negotiations were continuing.
Going into the talks on DATE TIME, PERSON, chairman of ORG, said he was hopeful an agreement could be worked out in time to avert a strike.
The union had proposed that its pilots fly the NORP ORG flights, but with lower pay than pilots flying the regular NORP aircraft. NORP, however, wants to continue using lower-paid commuter pilots from a different union to fly the smaller planes.
While the mediator has informed the union of the airline's rejection of the proposal on small planes, union official said the company itself has not notified them directly of that.
The dispute also centers around the pilots' pay. They now earn an average of MONEY a year.
The union earlier had said it would offer a new pay proposal -- probably less than PERCENT over DATE it had sought. The latest reported offer from NORP was a PERCENT boost over DATE.
A strike would ground CARDINAL NORP flights on DATE and affect CARDINAL passengers. NORP, a unit of ORG, accounts for PERCENT of the nation's airline capacity.
The GPE, GPE-based airline is trying to rebook passengers on other carriers and has already canceled nearly all international flights scheduled for DATE TIME.
ORG spokesman PERSON said on DATE the carrier was canceling CARDINAL of its domestic flights scheduled for DATE. ""There are some small domestic airports where we have no permanent place to park the planes if there is a strike, so we decided to cancel those CARDINAL flights.""
A ORG official said a strike could cost the GPE economy MONEY a day.
ORG Chairman PERSON called for binding government arbitration of the dispute, a proposal the pilots have repeatedly rejected.
""I think mandatory binding arbitration should be required"" to prevent airline strikes, PERSON told a congressional subcommittee. Binding arbitration would mean both parties agreed to abide by the decision of an arbitrator.
""I seriously doubt we could accept that,"" union spokesman PERSON said.
Crandall told a hearing of ORG subcommittee he was unsure if a strike could be avoided. ""We have CARDINAL choices: we can either cave in or take a strike. A strike of DATE will destroy this airline.""
As the talks entered DATE of intensive bargaining, President PERSON was keeping a close watch.
PERSON could intervene and name an emergency board to try to resolve the issues. Under the Railway Labor Act, which also covers airlines, the president has the power to declare a national emergency to stop a strike and to keep planes flying for DATE. The last time such an action was taken in an airlines strike was in DATE.
But at an unrelated news conference on DATE, PERSON repeated that the parties should use the government mediator to reach an agreement.",0
"ORG chief financial officer PERSON said on DATE the company is not for sale, although it recognizes its responsibility to shareholders.
""The company is not for sale and the company doesn't comment on takeover rumors,"" ORG said in a telephone interview. ""Obviously, we recognize our fiduciary responsibilities."" Stock of the GPE-based sporting goods company has jumped PERCENT since DATE, with market sources pointing to takeover rumors.  
""We keep hearing takeover, takeover,"" said CARDINAL analyst, who does not follow the stock directly.
Another analyst said he was skeptical there were any takeover talks currently underway.
""I think it's just pure speculation right now, I don't think there's anything happening,"" said PERSON, analyst at ORG. He added that, based on fundamentals, the stock, which closed up CARDINAL at CARDINAL DATE, has a fair price of CARDINAL.  
In a research report on DATE, PERSON reiterated a maintain/aggressive rating on the stock, saying in the long term, ORG brand name makes it an attractive takeover candidate.
CARDINAL potential acquirer for ORG that is repeatedly mentioned is GPE, GPE-based ORG A ORG spokesperson could not be reached for comment DATE.
PERSON said DATE the case for ORG is that it would round out the company's on-field baseball presence. But the case against ORG is that ORG is too small and does not have margins that match ORG's.  
ORG said ORG is scheduled to report DATE financial results DATE, but added the company in DATE said it expected to report a modest loss for DATE.
Rawlings said it expected revenues to decline in DATE because of lower sales in baseballs and baseball gloves. The company reported net income of $MONEY, or $MONEY a share DATE.
PERSON pointed out in his research note that the recent settlement of ORG labor situation removes a large risk factor.
ORG is also considering using commemorative PERSON and PERSON baseballs during the DATE baseball season, which could boost ORG business in DATE, he said.
((--Chicago newsdesk CARDINAL DATE))","ORG planned MONEY purchase price for ORG and an expected merger-related charge of MONEY after tax both appear reasonable for an in-market deal, analysts said DATE.
The GPE-based bank holding company said it expects to take the charge in DATE the deal closes.
""For a deal this size, I think, it's probably relatively modest,"" analyst PERSON at ORG said.  
Roosevelt, a MONEY thrift holding company also located in GPE, has CARDINAL branches, CARDINAL of which overlap with PERSON, ORG said.
The banks told analysts they expect to eliminate CARDINAL of the overlapping branches by DATE, he said, adding that PERSON also expects to cut PERCENT of PERSON's pre-tax cost base by DATE.
In a news conference, PERSON would not specifically say how many branches would be shut.  
The cost reductions help justify the MONEY price tag, which is CARDINAL times DATE earnings estimates for ORG, PERSON said.
""It's reasonable,"" PERSON said. ""For an in-market deal, because of the opportunities to save costs, it's reasonable.""
With its recently announced plan to acquire PERSON for MONEY, PERSON will be the largest financial institution in GPE, with MONEY in assets once both deals close.
That could make PERSON, often mentioned as a takeover candidate, even more attractive.  
""I'd say ORG was already attractive anyway,"" said PERSON, a banking analyst at ORG, which advised PERSON on the deal. ""This makes them no less attractive.""
PERSON, a banking analyst at ORGamp; ORG, said, ""I think it makes PERSON more attractive. It gives them the number CARDINAL market share across the state.""
But the process of closing the CARDINAL deals, expected in DATE, and absorbing the acquisitions could take PERSON out of play as an acquisition target in the short term, analysts said.
""I would think in the short term, an acquisition of this size, when combined with the acquisition of PERSON, probably delays the likelihood of somebody from outside coming in to buy PERSON,"" PERSON said.
Meanwhile, GPE-based ORG and GPE, GPE-based ORG could become more attractive for suitors looking to buy in the GPE market, analysts said.
((--Chicago newsdesk CARDINAL DATE)).",1
"ORG expected loss of MONEY in DATE is a serious setback to the company's unfolding comeback plan, industry analysts said on DATE.
ORG was banking on a strong Christmas season this year to convince potential customers there are still plenty of people using the ORG and plenty of people willing to write software for it, analysts said.
The company also had hoped to show software developers there would be enough demand for their products while ORG engineers finish a major overhaul of the PERSON's fundamental software with the help of recently acquired ORG
But the loss shows ORG is having a much tougher time selling its PC than analysts expected.
""I can't tell you how many people have asked me about whether they should be buying from ORG when there's so much negative news out there,"" said PERSON, an analyst at market researcher ORG
In DATE, ORG's share of the PC market worldwide fell to PERCENT from PERCENT in DATE, according to a recent ORG filing with ORG. In the GPE, its share fell to PERCENT from PERCENT.
Apple on DATE blamed a shortage of ORG laptops and slow sales of its Performa line -- which is geared toward home users -- for the shortfall. Consumer sales traditionally account for PERCENT of ORG's DATE.
Revenue for DATE will be PERCENT less than the MONEY reported in DATE, ORG said.
Meanwhile, ORG faces more technological competition from PCs based on ORG microprocessors. ORG will release in DATE a new ORG with so-called MMX technology that can handle computer graphics and sounds much better than before.
PERSON, president of market research firm ORG, said some consumers may have put off buying Macintosh Performas -- until now, a favored brand for running multimedia software -- in favor of waiting for PCs based on ORG's MMX chips.
""It is an image problem,"" PERSON said. ""ORG has not been able to convince the consumer that the software developers are coming back, and has not been able to convince them that ORG will be around in the future.""
Not counting the MONEY purchase of ORG, ORG expects to report a loss of MONEY, the company said. Based on ORG's CARDINAL shares outstanding, the loss would be MONEY a share.
Wall Street expected ORG to report a per-share loss of $MONEY, according to a survey of analysts by ORG.
The expected loss puts pressure on ORG Chairman PERSON, who on DATE will outline his company's strategy to CARDINAL of ORG customers and programmers at the ORG trade show.
Amelio said on DATE the company would have to reduce its expenses by MONEY DATE, to return to profit, a move that could include another round of firings.
DATE, the company laid off CARDINAL people.
In recent speeches Amelio said he did not expect the company's revenue to grow until DATE, but other executives have said they expected the company to have ""sustainable profits"" by DATE.
While it is too early to forecast the DATE results, ORG is ""telling people to recalibrate their expectations,"" PERSON, corporate public relations director, said.","ORG executives on DATE showcased products and technology geared toward business computer users, reaffirming its committment to corporate markets.
ORG Chief Operating Officer PERSON, in a speech at at a software trade show, also said ORG will put much of its resources into making the ORG work smoothly with other computer systems from rivals such as ORG, ORG and ORG  
ORG has traditionally had a tough time selling its machines to big corporations, which prefer to buy machines based on ORG computer chips running ORG software.
To win the favor of corporate programmers and technicians, ORG will release in DATE software and computers that can easily tap vital information stored in huge corporate databases, ORG said.
He also assured the audience of professional programmers that their investment in ORG technology and products is not in danger.  
""ORG may have its ups and downs, but you can be sure we will be there for the long haul,"" ORG said at EVENT, a trade show for users of ORG corporate software.
ORG executives demonstrated the company's network servers for storing and distributing data using NORP database management software.
They also demonstrated ORG's ORG technology -- software under development to make it easy for average computer users to search huge databases without knowing esoteric computer languages and commands.  
In DATE, speculation has increased that ORG is close to buying Be Inc, a closely held software company in GPE, GPE, to beef up its fundamental software.
ORG declined to comment about the speculation.
Other ORG officials said the company will outline its strategy for improving its ORG operating system in DATE.
-- GPE desk CARDINAL 677 2542",1
"NORP investment and property group ORG and GPE's ORG announced on DATE they would build a markets complex in LOC that would be LOC's largest.
""The CARDINAL hectare, MONEY (MONEY) project aims to create a new industrial commercial and residential hub in northern GPE, anchored around what is currently being established as LOC's largest single agricultural produce and export market,"" PERSON and ORG said in a joint venture announcement.
""The joint venture brings together the local experience of ORG and PERSON international resources and financial strength,"" they said.
Stage one of the project, which was PERCENT complete and projected to cost MONEY, was already processing QUANTITY of produce a day and had parking for CARDINAL vehicles.
The complex, known as the Thai Markets project, would be located on the main northern road from GPE and be about 20 km from the airport.
""Located in a key location in LOC, ORG has been conceived to tap into the high growth agricultural and industrial sectors as GPE emerges as the 'food bowl of LOC',"" the statement said.
The complex would eventually include food processing facilities so produce from surrounding areas could be packaged and processed for export.
The ORDINAL and ORDINAL stages, which would cost MONEY, would include factories, retail outlets and homes to service the complex.
""There will also be a major discount retail and wholesale distribution facilities and shophouses,"" they said.
PERSON NORP unit, based in GPE, would contribute MONEY to the joint venture for a PERCENT stake initially, with that percentage changing as the stages progressed.
The project is expected to take DATE to complete.
A ORG spokeswoman said she could not say how the percentage would change.
ORG chief executive PERSON said the joint venture was a key step for his company.
""PERSON brings extensive experience, management skills and capital. Their international perspective will significantly strengthen the project and position future stages for the next upturn in the economy,"" Angkanawatana said in the statement.
""Completion of the adjacent ORG and ORG complexes as well as continuing infrastructure investment in the area by the NORP government is expected to further benefit the project,"" the CARDINAL partners said.
The state-owned ORG (BAAC) is backing the project and ORG also supports it, the ORG spokeswoman said.
""The current success of the market project show, that it has strong fundamentals and makes it a good opportunity for PERSON,"" WORK_OF_ART managing director PERSON said.
The announcement of the NORP joint venture is part of PERSON widespread push into NORP property development.
PERSON announced on DATE it had formed a CARDINAL joint venture with privately-owned GPE firm ORG to manage CARDINAL serviced apartments around LOC, including in GPE.
PERSON said it would initially contribute MONEY for the management entity and would then seek additional capital.
(A$MONEY = US$MONEY)","NORP banks have a made a positive start to DATE.
Share prices are buoyant and analysts on DATE saw few serious clouds on the horizon to jolt the sector out of its seemingly inexorable rise.
The sctor, which has outperformed the ORG CARDINAL index by PERCENT over DATE, has become more diverse in DATE.
But, for differing reasons, analysts are quietly confident that based on a benign economic environment, the banks should continue to show good profit growth.
There are also positive stories to be told on an individual basis with ORG, for example, expected to offer further share buybacks and ORG and ORG set to continue reaping the benefits of their strong LOC franchise.
""LOC is still looking attractive and we still have Standard Chartered on an outperform rating,"" said PERSON, banking analyst at ORG. ""We also like ORG, it's the cheapest stock in the sector, and looks likely to emerge with a more compelling story in DATE,""
Analysts expect ORG to consolidate its recent heavy acquisition programme and spend possibly 300 million pounds on buying back shares as its PRODUCT capital ratio measure rises. Barclays is also expected to continue repurchases on which it has already spent MONEY.
ORG TSB could also eventually join the share buy-back club as its capital ratios improve, though most analysts do not see this happening before DATE.
ORG banking analyst PERSON said he expects the NORP economic outlook to remain favourable.
The strength of sterling, while affecting those banks that report dollar income in sterling, looks set to keep the lid on inflation and interest rates, a scenario the banks should be able to deal with.
If rates were to rise more than expected then that could be a problem for bank share prices if the market thought bad debt provisions were set to rise.
On the other hand, many analysts are not convinced by the link between interest rates and bank share prices.
""It's sometimes dificult to tell what causes prices to fall from the outside,"" said CARDINAL analyst who declined to be named. ""ORG shares have done very well in DATE and operators may well take profits on any (market) setback to lock them away. But that doesn't mean they have changed their view.""
On domestic banking, analysts are happy that banks have been moving more into higher-margin personal sector borrowing at the expense of the lower margins seen in the corporate sector.
But they are less happy about the competitive mortgage market which, despite an upturn, is hardly setting the world alight.
While bad debts remain stable, net bad debt charges could rise as releases of old provisions work their way out of the system.
Other share markets could also have an influence, analysts say.
Some investors compare the NORP and GPE bank sectors and DATE, the GPE rather lost out. If this were to turn, then the NORP banks could come under some pressure, said ORG's Leonard.
But analysts are already a little nervous given that the banks' good run has continued with such strength.
""Some stocks are definitely looking less compelling given the rush of blood we've seen in EVENT,"" said CARDINAL.",0
"LOC gave a cautious welcome on DATE to GPE President PERSON's appointments for the key posts of secretaries of state and defence, mixing public praise with some private misgivings.
ORG Ambassador PERSON, tapped to become the first woman secretary of state, and Senator PERSON, who would take up the defence post, were seen as able appointees, though both were perceived as short on NORP expertise.
Analysts said NORP nations that had been targets of GPE pressure on human rights might also have cause for new concerns, particularly with the outspoken PERSON in the top foreign policy job.
PERSON named his ORG envoy and the NORP senator from GPE on DATE as his choices for the ORG posts to succeed PERSON and PERSON. ORG confirmation for both nominees was widely expected.
NORP Prime Minister PERSON said he did not foresee any impact on U.S.-Japan relations.
""I do not expect any changes in GPE ties and I hope we can work together to deepen our relations,"" he told reporters.
But government sources said both appointees were unfamilar with GPE and their counterparts in GPE would soon begin the task of getting acquainted with them.
GPE, which has seen an easing of its strains with GPE of late, said it welcomed PERSON's appointment and looked forward to a continuation of improving ties.
""We congratulate PERSON on her nomination as secretary of state,"" a foreign ministry spokesman said.
""We hope that while she is secretary of state, GPE and GPE ... will grasp the opportunities and make mutual efforts to improve and develop NORP-U.S. ties.""
NORP-U.S. relations had been buffeted over DATE by disputes over GPE, arms proliferation, trade and human rights. Relations have improved markedly in DATE, most notably with a meeting between PERSON and NORP President PERSON in the GPE DATE.
But NORP specialists in GPE policy issues said a lack of experience in NORP affairs would prove a handicap for the CARDINAL new ORG members, though they expected this to be overcome.
They said that human rights issues, still a source of friction, had been put aside for the time being, and were unlikely to upset bilateral ties.
Burma could be CARDINAL NORP state to have misgivings about the new post for PERSON, particularly in the sphere of human rights, analysts said.
There was no official comment from the NORP government but a Western diplomat in GPE said PERSON's appointment would be viewed negatively as her past statements on human rights and women's issues have not been welcome.
GPE has also been critical on occasion of GPE's human rights record though GPE's reaction to PERSON's appointment was upbeat. NORP Foreign Minister PERSON described her as an able and experienced diplomat.
GPE saw the new ORG appointees as likely to maintain pressure on rival GPE as both are wary of the potential threat posed by GPE.
""The GPE policy of trying to guide GPE to a soft landing and keeping the freeze on GPE's nuclear programme will continue,"" a government official said.
""The new team is also likely to promote dialogue between LOC and GPE,"" he added.
GPE invaded the LOC in DATE and the CARDINAL sides remain technically at war. Hostilities ended in DATE with an armistice, not a peace treaty.
PERSON won an enthusiastic response from DATE, such as in the GPE where she was called an inspiration to women worldwide.
""I am glad that GPE showed the way,"" said PERSON, CARDINAL of the country's prominent women lawyers.
""This development is so rare,"" she said.","ORG stock tumbled DATE after the company said it expected a loss of MONEY in DATE, prompting even some of the company's most loyal customers to question its survival.
ORG shares fell $MONEY to $MONEY, the lowest level since DATE, as CARDINAL shares traded, making it the most active issue on ORG.
Industry analysts, who had expected ORG to post a small loss in the normally strong DATE, said the loss made it harder for customers to justify buying a ORG, given serious questions about the company's finances.
""You can't dismiss this as a CARDINAL-time issue,"" ORG analyst PERSON said. ""It really does say something about ORG's long-term position in the consumer market.""
The troubled computer maker, struggling for DATE to shore up its finances and rebuild its image, said late on DATE that weak demand for its Performa personal computers would lead to an operating loss of MONEY in DATE DATE.
The company also said it may need further restructuring aimed at cutting another MONEY in costs, which could mean another round of cutbacks at ORG.
More damaging, the company's woes make it harder for customers -- particularly corporate technology managers -- to justify choosing a Mac over personal computers running PRODUCT software from ORG, buyers at the ORG trade show said DATE.
""It's definitely a fight,"" said PERSON, a computer consultant who advises companies about technology purchases. ""Very seldom do I go into a shop where they're as objective (about ORG's technology) as I'd like them to be.""
Complicating matters is a new generation computer chip by industry giant ORG, which the company expects to unveil on DATE. Analysts said the new multimedia chip should dramatically boost ORG sales and spur sales for PCs  powered by ORG software.
Experts said the perception that ORG was in serious financial trouble could keep potential customers away, leading to a spiral of bigger and bigger losses.
""It's frustrating"" trying to convince customers they may be better off with a PERSON, said PERSON, a technical support engineer at ORG, a big ORG dealer in GPE, GPE
At DATE, ORG Chief Technical Officer PERSON assured big customers that ORG will concentrate on winning back big accounts now that the company has a clear technology strategy.
""We honestly do believe our lack of a (technology) strategy until DATE caused us the problem"" of weak sales in DATE, she said. ""We are ready to go back on the attack to tell (corporate customers) that we have excellent technology.""
DATE ORG announced plans to buy ORG for MONEY in a bid to update ORG's operating system.
News of the loss prompted several Wall Street analysts to stop recommending ORG's stock as an investment.
ORG Cos. Inc. cut its rating on ORG from hold to unattractive. ORG lowered its rating to hold from buy, according to a source at the brokerage house.
ORG Chairman PERSON is expected to outline his company's strategy on DATE to CARDINAL of ORG customers and programmers at the ORG show. The highlight of his speech was expected to be ORG's plan to revamp its fundamental ORG software with technology acquired as part of the ORG acquisition.
Some ORG customers said any technology improvement might be too late.
""I've been an ORG supporter since early on and the PERSON has made a difference in my life,"" said PERSON, principal at ORG school in GPE. But he said he was under growing pressure to buy Windows-based computers.
""I have to be realistic about what's best for our school district and our children,"" ORG said.",0
"GPE said on DATE the health of its DATE paramount leader PERSON was relatively good and had not changed dramatically.
""For an old man, he is doing relatively well,"" NORP ORG spokesman PERSON told a news briefing when asked about PERSON's health.
""There has been no big change,"" Shen said. He declined to comment further.
PERSON, whose market-oriented policies helped transform GPE from a backward NORP state into one of the world's most dynamic economies, has not been seen in public since DATE. In his last appearance he looked frail and faltering.
Speculation abounds about his health, ranging from rumours he was admitted to hospital in DATE to reports he remains at home though no longer mentally alert.
PERSON has vowed to visit GPE to witness the return of the NORP colony to NORP rule at DATE but a GPE vice-mayor believed to be close to the PERSON family said recently this would be difficult.
PERSON oversaw the negotiations that led to an agreement for GPE to hand back the territory it has held for DATE. He has said repeatedly he hoped to be able to witness the transfer of sovereignty.
He has spent his twilight years cloistered off from the public eye, creating opportunities for power-hungry, would-be heirs fighting for his title to use his name to strengthen their hand, analysts say.
ORG is broadcasting a CARDINAL-part documentary series about PERSON's life that shows a vigourous leader portrayed against a background of golden clouds.
The man who launched GPE's economic reforms no longer holds public office but remains highly influential.
PERSON's health has long been the subject of intense speculation both in GPE and elsewhere because his death is expected to trigger a power struggle among those eager to succeed him as the de facto emperor of the world's most populous nation.
Analysts have said the series was carefully crafted by those who would benefit most from polishing up PERSON's image.
President PERSON is in line to succeed PERSON as GPE's most powerful man but it is widely believed that PERSON still needs to shore up his position as the heir to PERSON's political mantle.
PERSON, PERSON's own anointed heir-apparent, will need to call on the clout of his sponsor to consolidate his position at a crucial party meeting DATE, analysts have said.
The television paean to PERSON, who always openly shunned the personality cult surrounding PERSON, has been seen as evidence of his waning control over the affairs of the government.","GPE must tackle the thorny task of state enterprise reform DATE, forcing through unpopular layoffs and bankruptcies to halt haemorrhaging losses, economic tsar Vice Premier PERSON said on DATE.
PERSON hailed such achievements in DATE as a high economic growth rate of PERCENT, a fall in inflation to PERCENT and the swelling of foreign exchange reserves to MONEY at the DATE.
However, he cited CARDINAL urgent tasks that must be tackled in DATE -- increasing grain reserves and ensuring incentives to farmers and halting rapidly mounting losses among the state enterprises that form the backbone of GPE's economy.
PERCENT of GPE's CARDINAL state firms lost money DATE and total losses in the government sector soared to MONEY (MONEY) DATE, a year-on-DATE rise of PERCENT.
PERSON blamed the losses on CARDINAL increases in state prices for farm products, hikes in costs of transport and power, tighter accounting mechanisms, high interest rate payments despite CARDINAL cuts DATE and arbitrary fees by local governments.
However, these were secondary reasons, PERSON told a meeting in GPE on re-employment in state enterprises.
The CARDINAL main reasons were duplication of products, the impact of widespread smuggling and the burden of huge numbers of surplus workers employed in state firms, PERSON said.
Many state firms, accustomed to mass-production for a command economy, have struggled to adjust to GPE's new consumer-led markets and continue to churn out MONEY worth of unsaleable goods.
Tackling these problems must be a priority in DATE, he said, if GPE is to turn around inefficient state enterprises that recorded their ORDINAL net loss in DATE as they struggled in an economy racing to abandon the cushion of central planning in favour of a sink-or-swim marketplace.
PERSON called for reorganising management in state enterprises DATE, citing bad management as a major factor in growing losses, and urged active promotion of re-employment projects to help surplus workers or those laid off through streamlining.
He also urged standardisation of the bankruptcy system, which has been used mainly on an experimental basis for DATE, along with encouragement of mergers.
While proposing the use of mergers rather than bankruptcy to eliminate loss-making state firms, he advised against the sale of an entire company and favoured enterprises taking on a portion of the ailing firm's debt.
The government would write off MONEY (MONEY) of bad debt DATE, and this figure could rise gradually in DATE, PERSON said.
On agriculture, PERSON revealed for the ORDINAL time the size of GPE's state grain reserves, which totalled a record QUANTITY at DATE. That marked an increase of QUANTITY compared with DATE, he said.
GPE has estimated its DATE grain harvest at QUANTITY, up from QUANTITY in DATE.
Market prices for grain would not fall and PERSON urged farmers not to sell their grain at low prices to private traders.
GPE is anxious that farmers continue to grow grain and not turn to more lucrative cash crops and wants to insure that farm incomes do not drop with the record harvests.",0
"GPE stocks ended softer due to a sell-off in financial services on DATE, while the value of trading was the ORDINAL-highest ever.
ORG key CARDINAL Composite Index fell CARDINAL points to close at CARDINAL points, before setting a new intra-day high of CARDINAL points.
Trading volume was CARDINAL shares worth MONEY (MONEY). The ORG's highest trading value was MONEY (MONEY), set in DATE.
RBC Dominion Securities analyst PERSON noted that bank stocks were retreating from their recent rally.
""Weaker bond markets are fueling the shift away from the interest sensitives into the more glorious investing terrain of golds and the cyclicals,"" Best said in a market report.
PERSON, president of P and ORG, added that a pause was warranted since the ORG CARDINAL Index has added CARDINAL points since DATE.
""It would be quite normal and understandable for it to have a correction after such a robust move,"" PERSON said.
GPE's CARDINAL sub-indices were evenly split between rising and falling groups. Pipelines lost the most ground, followed by banks, utilities, and conglomerates.
Golds, base metals and communications led the strong side.
Advancing issues edged out declining ones CARDINAL to CARDINAL while CARDINAL traded flat.
Among hot stocks, nickel giant ORG rose C$MONEY to finish at C$MONEY in heavy trading.
Gold firm ORG topped net gainers, adding C$MONEY to close at C$MONEY in moderate trading.
ORG lost C$MONEY to finish at C$MONEY in brisk trading, while ORG fell C$MONEY to end at C$MONEY.
GPE's largest publicly traded firm, telecommunications conglomerate ORG, lost C$MONEY to close at C$MONEY on volume of CARDINAL shares.","GPE stocks ended firmer in brisk dealings on DATE, adding another CARDINAL points to the DATE's gains of CARDINAL points and bringing the key CARDINAL index closer to breaking its all-time high.
""We just refuse to move lower,"" said ORG analyst PERSON. ""We're just ignoring all the bad news."" ORG key CARDINAL Composite Index rose CARDINAL points to end at CARDINAL points on DATE.
The TSE 300 has recovered from its lows in DATE and is climbing towards its all-time high of CARDINAL points reached in late May.
The index may test the high DATE, ORG said.
On DATE GPE's central bank cut short-term interest rates by CARDINAL basis points, easing the key bank rate to PERCENT. This will help keep up interest in GPE's important bank issues, analysts have said.
During DATE, investors picked up the heavily weighted gold stocks as gold prices edged closer to the psychological high of US$MONEY on GPE ORG, analysts have said.
NORP forestry products were hot DATE with GPE market players as well, said ORG's director of investment research PERSON.
Nine of GPE's CARDINAL sub-indices rose, led by golds, forestry products, base metals and transports. Falling sectors included media issues, oils and utilities.
Advancing stocks outnumbered declining ones CARDINAL to CARDINAL, while CARDINAL traded flat.
Golds were among the most actively traded issues. ORG led the pack, rising GPE to C$MONEY on CARDINAL shares. It topped GPE's most actives list.
Forestry products firm ORG gained GPE to C$MONEY in heavy trading.
Fertilizer firm ORG rose MONEYMONEY on strong turnover.",1
"A strike at ORG GPE metal stamping plant is expected to force CARDINAL more ORG truck assembly plants to shut down DATE TIME, ratcheting up ORG union's bargaining pressure on the automaker.
A ORG source said the CARDINAL truck plants will run out of parts from GPE TIME during their ORDINAL production shifts, joining a plant in GPE, GPE, that shut down TIME.
The GPE plant laid off CARDINAL of its CARDINAL workers as it halted production of ORG's popular full-size ORG and ORG pickup trucks.
The official declined to identify the plants, but said they will be among several still-operating truck facilities that receive hoods, fenders and other large body panels from GPE, including ORG and GPE, GPE; GPE, PERSON; GPE, GPE; GPE, GPE; GPE, GPE; and GPE, GPE.
The strike by CARDINAL workers at GPE and a ORDINAL walkout by CARDINAL workers in GPE, GPE, have formed a CARDINAL-pronged effort to squeeze ORG's highly profitable light truck operations.
Meanwhile, ORG and the ORG continued a CARDINAL TIME bargaining session DATE in an effort to hammer out a new national labour contract covering CARDINAL ORG TIME workers.
The marathon session, which started at TIME, was the longest so far between the union and the world's largest automaker, said ORG spokesman PERSON.
He declined to comment on any progress being made.
Typically, negotiators in labour contract talks for GPE's Big Three automakers meet for long periods to work out final details just before reaching a tentative agreement.
But analysts say the dollar cost of lost truck production due to the GPE and GPE strikes could mount quickly, shutting off ORG's biggest source of profits.
The shutdown of the GPE plant alone could cost ORG MONEY a week in pre-tax profits, adding to pressure on ORG for national and local contract settlements, said PERSON, an auto analyst with ORG.
The southern GPE factory is the sole source for ORG's popular four-door, full-size ORG PRODUCT and ORG and ORG sport utility vehicles. Analysts estimate that ORG makes an average of $MONEY in variable profits on each of the trucks.
As its truck operations grind toward a halt, the company's GPE car assembly plants affected by a DATE strike in GPE DATE are starting to come back to life.
ORG said DATE that CARDINAL idled workers returned to their jobs at car plants in GPE, GPE, and GPE, GPE, cutting the total number of GPE workers laid off due to ORG walkout to CARDINAL.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive has been a major sticking point in the negotiations. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs.
ORG has already put CARDINAL of the CARDINAL plants on the sale block -- a door hinge plant in GPE, GPE, and an interior trim plant in GPE, GPE, that together employ CARDINAL workers.
ORG's stock was off MONEY at $MONEY in TIME trading on ORG.","ORG and ORG union were back at the bargaining table on DATE in an effort to reach a new national labor agreement before a DATE TIME strike deadline.
Bargainers, led by ORG President PERSON, reconvened TIME (TIME ORG) at ORG's GPE headquarters following a night off after the union's decision late on DATE to cancel its contract with the automaker at TIME DATE (0459 GMT DATE).
The deadline marks the ORDINAL time the ORG threatened a strike in its DATE negotiations with GPE's Big Three automakers, which up to now have been marked by an unusually conciliatory tone and extremely secretive discussions.
It also came DATE after ORG's CARDINAL ORG members began returning to work on DATE following a DATE strike against the automaker's NORP operations.
In the GPE talks the CARDINAL sides were at odds over the same issues that caused the walkout in GPE -- the union's demand for job security and ORG's desire to sell several parts plants and maintain flexibility to shift components work to outside suppliers, a practice known as outsourcing.
In the GPE negotiations ORG wanted to modify the ORG contract pattern set by ORG and ORG, which agreed to guarantee jobs for PERCENT of their ORG  workforces over DATE.
ORG, the least efficient GPE automaker, wanted to exclude certain components plants from the employment guarantees, including a door-hardware plant in GPE, GPE, and an interior trim plant in GPE, GPE.
ORG and ORG buy more of their parts from outside suppliers than ORG does, often from firms that paid their workers significantly less than the $MONEY-an-hour base wage paid in Big Three factories.
ORG said in a statment DATE that he was not optimistic that a deal could be reached before the deadline, but told workers to remain on the job until further notice.
On DATE ORG spokesman PERSON declined to say whether the union was still pessimistic about the talks.
""That was DATE's statement,"" McGhee said. ""We're just saying that the talks are continuing and we're not characterizing the progress.""
ORG spokesman PERSON said the automaker was prepared for round-the-clock negotiations, but declined to provide further details of the talks.
ORG's chief negotiator, PERSON, said DATE that the automaker was ""committed to entering into agreement that balances the needs of our employees and the ORG with the flexibility ORG needs to continue to improve our competitiveness.""
ORG flush with MONEY in cash on its balance sheet and operating earnings that more than doubled in DATE to MONEY, showed much willingness DATE to sustain costly strikes in its continued quest for competitiveness.
Industry analysts estimated the cost of the NORP strike at MONEY, while a DATE strike at CARDINAL GPE, GPE, brake plants in DATE reduced ORG's DATE profit by MONEY.
In ORG, ORG preserved its right to buy a future brake system from an outside supplier, while in GPE, ORG won the right to sell CARDINAL parts plants in return for recognizing some limits on outsourcing.
But the effects of the NORP strike continued to linger DATE, as more of ORG's GPE assembly plants plants ran out of NORP-made parts.
In GPE, GPE, local ORG officials said ORG told CARDINAL workers not to report to work at the automaker's massive GPE complex on DATE.
The facility makes PERSON, Oldsmobile CARDINAL and ORG sedans, as well as V-6 engines and other components.
On DATE ORG laid off CARDINAL workers at its GPE, GPE, assembly plant in a shutdown scheduled to DATE. The plant builds the popular ORG PRODUCT and Pontiac Sunfire small cars.
Also on DATE ORG notified some of the CARDINAL workers at the nearby GPE metal stamping plant they would be idled DATE. Another CARDINAL workers at a components plant in GPE, GPE, will be idled DATE, ORG said.
Excluding the layoffs that will start DATE, ORG said it had a total of CARDINAL workers idled in GPE and GPE on DATE.",1
"GPE CARDINAL coffee is likely to be well up on DATE but rising volumes are bringing quality problems, regional buyers and exporters' agents said.
They expect coffee marketing, sluggish for DATE, to pick up in DATE.
""There's a lot of coffee about but quality is poor,"" said CARDINAL buyer based in the Man region. ""We could see QUANTITY but exporters have bought little so far and made large quality adjustments.""
Port forwarding agents said they had noted no major quality problems with coffee received for export. CARDINAL quality inspector suggested that PERCENT could be shipped out DATE.
GPE opened its CARDINAL coffee season late on DATE amid plummeting prices, and forecast output at QUANTITY against CARDINAL DATE.
Farmgate prices were cut by CARDINAL CFA to CARDINAL CFA a kilo.
""Farmers have been waiting for a price rise hoping it will be a sellers' market,"" said CARDINAL buyer. ""Little care has been taken over sorting as farmers have less time, but exporters want better quality than DATE.""
Farmers face a higher than normal DATE cocoa harvest as well.
""DATE will be twice a long as usual,"" said CARDINAL buyer north of GPE, commenting on the slow start.
""We should be busy into DATE,"" said a buyer around PERSON.
Buyers expected to be at their busiest in DATE and DATE with port forwarders slating peak arrivals in DATE and May.
Large amounts of coffee could be seen along roadsides around buyers' stores DATE with stocks said to be rising.
Buyers in most regions pointed to high percentages of black beans, fragments and bean husks.
""Humidity is PERCENT,"" said CARDINAL buyer in GPE, against a PERCENT export standard. ""Exporters are rejecting PERCENT even after sorting,"" he added.
One buyer in PERSON in the south said some farmers were delivering sacks with PERCENT of problem beans.
Quality is widely seen as better in more productive northern areas around Man, where weather had been more favourable.
""Farmers are only now getting the message about quality but we have been buying since DATE,"" said the manager of a new buying unit in Man opened by a processor.
The unit was advertising CARDINAL CFA above guideline prices for top grades but paid CARDINAL CFA for lower grades. Margins of PERCENT for quality variation applied within each grade.
QUANTITY had been bought by DATE. QUANTITY had left for GPE, with the rest, including QUANTITY of low grade stocks, in Man warehouses.
Other buyers in the Man area, which is expected to produce PERCENT (corrects from PERCENT) of GPE coffee, said they could not match the prices paid by processors.
""They can buy directly and save on transport and lower middleman charges,"" said CARDINAL. ORG had got into the habit of not sorting coffee in DATE, he added.
Banks have been reluctant to fund exporters' buying operations out of concern that the PRODUCT would not pay up price support to its clients.
Buyers said some large exporters had not bought any crop.
A NORP coffee scientist based in Man said coffee bush flowering was good in many areas but dry GPE conditions could kill new fruits if rain did not fall.
-- Abidjan newsroom + 225 21 90 90","The MONEY acquisition of ORG would give ORG inventory for its fledgling ORG used-car chain but little added purchasing power in GPE.
""There's no such thing as a volume discount,"" said automobile-industry analyst PERSON at FAC in GPE. ""It makes no difference whether you're buying CARDINAL cars or CARDINAL.""
PERSON said the big GPE manufacturers do give fleet discounts to buyers but the terms have been getting tougher.",0
"GPE's financial markets have made significant steps towards maturity in DATE, with GPE more willing than ever to allow them to gradually take on the mantle of economic control, analysts said on DATE.
But the NORP securities, futures and money markets, DATE and still suffering the volatility of youth, have a long way to go to reach the level of standardisation and stability found in many other NORP countries, they said.
""In the past the central government always used the word 'experimental' when referring to the markets, but DATE they instead started saying they are 'in the initial stages of development',"" said a NORP brokerage analyst.
""This shows that it is more determined than ever before to let the markets survive and develop,"" he said.
GPE gave its official blessing to the stock markets in DATE, and since then, the exchanges in GPE and GPE have expanded faster than ever before, adding a total of CARDINAL companies between them so far DATE.
Total market capitalisation of the CARDINAL markets is now MONEY (MONEY) compared with MONEY at DATE.
The treasury bill market also boomed in DATE with a record issue of MONEY worth of debt.
An interbank market for local currency, set up in DATE, has become an indispensible mechanism for banks to swap short-term funds, and has started the process of making interest rates responsive to market forces.
The developments all take GPE significantly further along the road from the state-planned past towards the market-influenced future.
Analysts said that while the GPE leadership remains highly cautious about relaxing its controls over the main economic levers, it understands that it must do so eventually.
""The key motive behind the new approach is to gradually relieve the central government of the heavy burden of (the) money-losing state sector,"" said CARDINAL economist.
""GPE has urged state enterprises to resort more to market means to develop themselves instead of relying on loans from the state banks.""
But DATE, the authorities have also made it very plain that they will not allow rampant irregularities in the markets.
GPE's futures exchanges, which have largely operated as speculative casinos for DATE, have been firmly brought to heel over DATE.
The ""hot money"" which until DATE used to shift at lightning speed from GPE green beans to GPE plywood and on to GPE red beans has been squeezed out of the futures exchanges and shifted into the share markets, analysts said.
In DATE, branches of virtually all of GPE's top banks, securities houses and financial institutions have also been publicly accused of running illegal securities scams of CARDINAL kind or another, with fines and warnings liberally dispensed.
""Serious efforts have been made to standardise the market,"" said a treasury bond trader. ""No one, even the influential banks and key securities houses, are exempt from punishment if they breach the rules.""
Analysts said the main shortcoming at the moment is the legal framework for the markets, which consists of a series of overlapping and often contradictory regulations.
The overall Securities Law and PERSON, which will provide the basis for the future development of the markets, has been trapped in GPE's bureaucracy for DATE now with no sign of emerging soon, they said. (MONEY)","GPE's foreign currency B share market has been consistently hitting historic lows over DATE, and there's little prospect of a recovery at least until DATE, analysts said on DATE.
They said there was no sign of a bottom to the market, with the foreign investors for whom the market was created having largely sold up and left, leaving it to local investors.
The confidence of the foreign investors has been killed by an unending string of disappointing company results and by the failure of the authorities to add new, sizeable and well-run companies to the market as promised, the analysts said.
""Confidence is totally destroyed and even long-term investors have begun to liquidate their positions,"" said a GPE-based investment analyst with a Western brokerage. ""A recovery of confidence will not happen overnight.""
The B share index closed down CARDINAL points or PERCENT to hit another record low close of CARDINAL points on DATE. It has hit all-time lows on DATE over DATE.
""There is no hope for the market to recover at least until DATE,"" said a B share broker. ""The most important factor is that company performance for DATE is unlikely to improve.""
The dismal state of the B share is in sharp contrast to the local A share market which continues to attract huge amounts of cash, setting DATE highs on a regular basis.
It is also at variance with the general level of interest among foreign investors in participating in the NORP economic boom that continues unabated, with national growth DATE expected to hit PERCENT.
""If they listed a good company on the B share market even at this point, people would be willing to buy it,"" said a stock analyst with a foreign brokerage in GPE.
Many B share firms were formerly state-run enterprises and the leadership, methods and attitudes of many are little changed from DATE when they were accountable to no one by the state planners in GPE.
""Unstable performance and declining profits of some key firms listed on the B shares market have made foreigners more and more doubtful about the future of the B share market as a whole,"" said a ORDINAL B share broker. ""There is no immediate support or bottom line that we can see.""
""Few people are willing to buy because there is a fear that the market will just keep falling,"" said a NORP analyst with a major local brokerage.
""But the falls have become meaningless with the volumes so thin,"" he added. ""The market has no momentum to rise due to lack of positive news.""",1
"In the true spirit of the lightning-fast world of the Internet, the browser wars which peaked in DATE have now been replaced by the battle for delivering content efficiently over the Web.
DATE will see an intensifying battle between products that deliver information directly to a computer, rather than stumbling around looking for it with often lengthy and cumbersome Web addresses.
The competition centers on transforming the Internet from a ""pull"" model, in which people actively search the Web for information or use software agents to do that for them, to a ""push"" model, in which people can choose once what they want to be sent and it is published to them continuously.
""Everybody knows who they want to get information from. The real problem is: When is it that they have information that I care about?"" said PERSON, chief executive of ORG, a GPE, Calif.-based start-up.
""What people want is to build relationships,"" he said.
PERSON, president of ORG ORG unit, likens the initial enthusiasm for surfing the Net to Sunday drives in DATE of the automobile, a pleasant but passing phenomenon.
Electronic commerce over the Internet, which is expected to gather steam in DATE, requires a more efficient way of navigating the information superhighway, executives say.
CARDINAL companies, mostly small high-tech start-ups, have been busily seeking to define the space, much as search engines like ORG, ORG, ORG and ORG have done in helping people search out what they want.
""As it was for search engines DATE, this is an area that has been more or less discovered by venture capitalists and others as something that has to be dealt with,"" said PERSON, managing editor of ORG ComputerLetter.
In addition to the impracticality of aiming to find real-time information in the CARDINAL Web pages that search engines catalog, many companies would like to be able to update customers and suppliers directly.
""There are some obvious problems with DATE's browse-and-pull technique for getting at information when you need it,"" ORG said. ""So there is a proliferation of new companies and new products from old companies aimed at solving this.""
CARDINAL companies are now vying for attention, including Ex Machina, which is providing a wireless news alerting system made by ORG, and GPE-based ORG Com.
So far, the category has been dominated by CARDINAL pioneering entry, GPE, Calif.-based ORG, which burst onto the scene in DATE with a screen saver display which offers customized and updated news, data and advertising.
""The biggest application that's got the visibility with this type of technology is ORG,"" said PERSON, chief executive of ORG.. ""ORG has got everybody now aware of how I can subscribe to things.""
Another hot LOC start-up in the sector is ORG, founded by PERSON and CARDINAL colleagues from ORG team which created the popular new PERSON programming language.
Industry executives say competition is vital to expanding the marketplace, but it also creates confusion as companies vie for a share of the action.
""I think there's a lot of confusion in the market,"" said PERSON. ""You hear a lot of names when people talk about this space, and the reason is the space is huge.""
Technologies that transform the way information is delivered on the Web, such as those which ORG will announce DATE, may help expand the market, according to industry analysts and executives.
""We are essentially a plumbing company, so we do plumbing software, and people like PERSON and ORG and ORG can actually make use of our software,"" said Ranadive.
""Now the technology they presently use to do this is a pull technology and so you can emulate a push by going out and asking a lot of questions,"" he added. ""But you're tying up the network, you're tying up the server by doing that.""","ORG, said DATE its DATE revenues hit MONEY in DATE, demonstrating the surging popularity of its Internet software among companies setting up internal networks known as intranets.
PRODUCT, which pioneered the popular LAW browser software for cruising the Internet's World Wide Web, said its DATE net income was MONEY, or MONEY a share. DATE, the fledgling company earned $MONEY on sales of MONEY.
""DATE was another landmark quarter for PRODUCT, as PRODUCT server and client software solutions made significant inroads into the global enterprise market,"" said NORP President and Chief Executive PERSON.
Wall Street, which had been expecting PRODUCT to report revenues of MONEY, had not expected the company to hit the MONEY DATE revenue milestone until DATE, analysts said.
""I think the MONEY mark really shows significdant growth,"" said ORG and ORG analyst PERSON, noting revenues grew PERCENT sequentially. ""This is major league revenue for DATE.""
The DATE revenue was well above the MONEY it posted for the whole of DATE. For DATE, PRODUCT earned MONEY, or MONEY a share, on sales of MONEY. DATE, the company lost MONEY, or MONEY a share, on sales of MONEY.
In TIME dealing, shares of PRODUCT were firm, changing hands MONEYMONEY, up from its closing level of $MONEY in ORG market trading.
ORG said in an interview after the results that the indirect sales through ORDINAL parties such as computer makers and systems integrators had accounted for PERCENT of overall sales, and PERCENT in LOC and LOC.
""We think it's a very efficient channel for us,"" he said. ""More and more we're seeing our job as demand creation through our direct sales force. We just think it's a more efficient way for these kind of products (to be sold).""
""I'm very proud we have gotten to that as quickly, because we're very dependent on these people,"" he said.
ORG outlined a broad range of companies which had chosen PRODUCT software to build applications for their computer networks, or ""intranet"" applications, and said the company was moving towards sales of complete systems.
Analysts said this focus and the rapid growth of the market will help it continue to grow in competition with rivals like ORG and ORG ORG
ORG said he remains concerned that competitors will be confused by the competitive frenzy, although he said key PRODUCT products remain lower in price those of ORG and ORG, for example.
Barksdale told analysts in a conference call that customers were using its Internet technology for a variety of functions, such as human resources administration, in addition to the order tracking feature for which it is known.
""What becomes clear is that people are not only deploying intranets, but they're expanding the utility of their intranets,"" Rimer said.",1
"LOC major gold companies are waging an expensive battle to win the coveted title of world's biggest gold producer.
""We want more of the action,"" said PERSON, spokesman for GPE-based gold firm ORG.. ""We want to be positioned in the industry as a bigger player.""
Placer Dome has made a MONEY bid for ORG of GPE and PERCENT of ORG  it does not already own.
The company also plans to raise MONEY through a preferred share issue and sell off some small NORP mine properties.
Placer also has its eye on ORG, a GPE, GPE-based exploration company that discovered what could become one of the world's largest gold mines, the Busang deposit in GPE.
But ORG is also crucial to ORG plan to become the world's biggest gold company.
GPE-based ORG is already the the world's most profitable gold company and LOC biggest, but it wants to surpass ORG and ORG to be the world's largest.
PERSON, through skilful navigation of NORP politics, appears to have PERSON within its grasp. GPE has asked the CARDINAL companies to form a joint venture to develop QUANTITY Busang deposit, with ORG controlling PERCENT.
GPE-based ORG was interested in ORG, but when ORG appeared to gain the upper hand, GPE turned its sights to ORG, a mid-tier gold company.
Although GPE seems to have lost out on its stock swap offer for ORG to a MONEY competing bid from ORG, analysts said GPE was still hunting for other takeover targets.
""This is a very capital-intensive industry and it's becoming a global industry,"" GPE spokesman PERSON said in an interview.
""In order to compete, you have to have large resources to do that. What you see is the larger players becoming bigger in order to compete.""
Homestake is poised to become LOC ORDINAL-biggest gold company after ORG if its takeover of ORG succeeds.
Major gold companies are under pressure from their shareholders to keep gold reserves growing, analysts said.
""If CARDINAL company gets big, they have a lot of clout in the marketplace to acquire properties or resources,"" said gold analyst PERSON of brokerage PERSON.
With gold bullion prices in a steep decline, the share prices of many mid-tier companies have been hit, making takeovers cheaper, ORG said.
But he said the current leaders of the gold world, NORP, were not caught up in the recent consolidation.
""It looks as though they're losing out to NORP,"" said Fowler. ""They're behind the CARDINAL-ball really.""
NORP gold producers were geared to react aggressively and quickly, but the NORP producers concentrated more on paying dividends, he said. ""They don't move very fast.""
Analysts said this round of deal-making was far from over as major gold companies fought it out to satisfy their shareholders' thirst for growth.
Analysts said possible future takeover targets included large mid-tier producers such as ORG, ORG, ORG and ORG..","ORG (CNB) Governor PERSON on DATE said the central bank was committed to keeping the crown strong, despite some calls to depreciate the currency to help exports.
Speaking after a meeting with Prime Minister PERSON and top business executives, PERSON said the central bank would keep the crown within the current band against which it fixes the currency daily versus a mark/dollar basket.
""I said that we will try to keep the rate within the plus/PERCENT band (against the mark/dollar cross rate),"" PERSON told reporters.
""I dismissed speculation that we would want to move the crown in some way outside the band,"" he added.
Analysts recently have been debating whether a devaluation of the crown might be needed to boost exports and help stem a ballooning current account deficit.
The trade deficit is threatening to send the current account shortfall to PERCENT of gross domestic product DATE after PERCENT DATE.
Some have argued that a devaluation is required to help the country's goods remain competitive while wages are rising and the economy is transforming.
But others have said that the foreign capital inflow is l comfortably paying for the imports, and the current account deficit is not dangerous.
Tosovsky said a stable crown had served its purpose in regulating inflation, and a stronger crown would have positive effects on reforming NORP industry to make it more competitive.
He said a stronger crown ""should help faster restructuring of our economy, to help increase the added-value faster...and to help to bring our country closer in productivity to the countries that we want to compare ourselves with.""
The central bank fixes the crown DATE within a band plus or PERCENT from the central parity of the mark/crown basket.
It has been fixing it recently at PERCENT above parity to match a modest net inflow from foreign crown buying.
After the meeting, Prime Minister PERSON said the government would aim to provide more funds to export promotion agencies such as ORG, and its sister export insurance agency.
He said he had told business leaders it was necessary to lower their expectations of higher inflation because it had become a self-fulfilling prophecy.
""We cannot automatically appease the expectation of, let's say, PERCENT inflation, and make that the basis for all further expenditure -- price and wage items,"" ORG said.
He said this would be key to the government's position in collective bargaining. ""We have to radically break this (inflation expectation). This must be the basis of this DATE's debates on collective agreements.""
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"The NORP DATE trade deficit should hold steady at around 14 billion crowns after a MONEY crown DATE deficit in DATE, a ORG poll of NORP economists showed on DATE.
NORP trade figures for DATE are scheduled to be released by ORG (ORG) at DATE local time (CARDINAL ORG) on DATE.
Most economists surveyed said they expect steady growth in the deficit and few surprises.
""It's still too early to talk about a period of stabilisation in the deficit, I think that will come in DATE when imports level off and exports strengthen,"" PERSON, an analyst at ORG told ORG.
Whatever the deficit in DATE, the DATE trade gap is sure to be a record, after the DATE figure reached CARDINAL crowns, more than all of the DATE's total shortfall of CARDINAL crowns.
The DATE trade deficit was MONEY crowns.
Most analysts agreed a DATE gap would be in-line with prevailing trends, and on target for the estimated deficit of MONEY crowns.
The foreign exchange and money markets are expected to show little reaction over the figures, as long as they do not vary greatly from the estimates.
Analysts say the trade balance has been hurt by a downturn in the economies of western LOC earlier in DATE, and a the effects of a recovery of demand in western LOC have yet to make an impact.
ORG figures show import growth was exceeding export growth by PERCENT versus PERCENT over DATE.
The government and central bank, however, has repeatedly ruled out a devaluation of the crown to boost exports.
Analysts point to DATE as a crucial time in which the import wave -- which is aimed at modernising industries -- must show results in productivity growth and competitiveness.
Economists said the deficit could be financed DATE, but might pose problems in DATE.
-- Prague PRODUCT, CARDINAL-2-2423-0003","Markets across LOC
remained mired in an DATE slump DATE, with analysts
saying they see little impetus on the horizon to break the
bearish trend.
Stock Exchanges in GPE, GPE, ORG,
GPE and PERSON all lost ground on DATE, while
Budapest bucked the trend, rising slightly though it appeared
to lose steam by DATE.
PRAGUE
Not even a strong showing by the centre-right governing
coalition in ORG elections at DATE could break ORGPrague Stock Exchange out of its current slump, as the ORG
index dipped CARDINAL points on DATE to close DATE at CARDINAL.
Analysts said that while the coalition of Prime Minister
PERSON may feel heartened by the showing which gave him a
majority to the NORP upper house, which will have little
power, investors are still put off by poor market regulation.
""I'm a little sceptical about the possibility that ORG will help bring changes to the market,"" said ORG of Zivnostenska Banka.
""I think there will be a lot of pressure from market
participants on the government to do something...but I have not
seen any signs of a change in attitude of the coalition with
respect to this topic.""
Investors have long complained that market regualtion and
legislation in GPE is weak, providing little
protection for minority shareholders.
GPE
ORG stayed virtually flat DATE
and analysts were divided over the market's direction.
Some said the bourse could extend its DATE horizontal
trend as no fresh signals were in sight. ""We are still in a
horizontal trend and...I see no factors which could help create
a clear direction for the market,"" said PERSON,
an analyst at ORG brokerage.
But others saw the generally positive economic climate as
an impulse strong enough that it could help the bourse climb
above CARDINAL points DATE.
Analysts said a senior central bank official's comment on
DATE on a possible rise in interest rates DATE was
bringing some uncertainty to the bourse but was unlikely to
signficantly hurt prices.
BUDAPEST
NORP shares, triggered by DATE government
decision to hike energy prices, started off DATE
strongly, but ran out of steam by DATE.
Oil and gas company ORG led the charge, but dealers said
its weakening on DATE could be a harbinger for the bourse.
""MOL turned around DATE (on DATE), that is a warning
sign,"" said GPE PERSON. ""Sellers are
stronger now."" The ORG index closed on DATE at CARDINAL, up
PERCENT from DATE's open.
BRATISLAVA
Slovak share prices continued their freefall over the
course of DATE, in a rampant bear market that has seen ORG lose PERCENT since DATE.
The CARDINAL-share ORG index fell CARDINAL points on DATE to
close at CARDINAL on DATE.
Dealers said the silver lining to the bourse's woes may be
that prices are becoming so cheap, foreign investors will soon
be lured back.
BUCHAREST
Scant demand kept volumes modest at both DATE sessions in
Bucharest, with turnover low and most prices edging down or
staying flat.
The unofficial ORG index inched down from the previous
session by PERCENT to CARDINAL points, while the ORG index
eased PERCENT to CARDINAL.
Fertiliser maker PERSON dominated trading,
while newcomer, an oilfield equipment maker, put on
a poor show.
GPE
NORP stocks were mostly lower in dwindling trade and
analysts said they could see no end to the bearish period as
big buyers continue to shy away from the market because of
political developments.
GPE has been shaken by a wave of strikes, and DATE
GPE saw its biggest protest in DATE.
LJUBLJANA
Political concerns were also apparent in GPE DATE, with investors waiting for a new prime minister to be
named, probably in DATE.
""The market will be uneasy until it is clear who will form
the new government,"" CARDINAL trader said. The ORG index fell CARDINAL
points from DATE's open to close on DATE at DATE.
Although the Liberal Democrats of current Prime Minister
Janez Drnovsek were the strongest single party in the DATE
general election, winning CARDINAL out of CARDINAL parliamentary seats,
they are facing a loose alliance of rightist ""EVENT"" parties,
who got CARDINAL seats.
		  CLOSE     WEEK'S CHANGE    1996/HIGH    1996/LOW
		 NOV CARDINAL	NET     PCT
 CESI	  CARDINAL   - 11.12  -0.79   CARDINAL     CARDINAL
 PRAGUE	  CARDINAL	-0.8   -0.16     CARDINAL	CARDINAL
 WARSAW     CARDINAL     -26.4   -0.2   15,078.7    7,725.2
 BUDAPEST    3,674.61   +110.66  +3.1    3,728.58   CARDINAL
 BRATISLAVA    161.82    -12.49  -7.17     CARDINAL     CARDINAL
 VAB-Index     CARDINAL	-4.83  -1.6	CARDINAL     CARDINAL
 BIG-Index     CARDINAL     -4.96  -1.6	CARDINAL	CARDINAL
 LJUBLJANA   DATE	-6.7   -0.6    1,589.18     CARDINAL
All-time highs: CESI 1,544.70 (Sept 2/1996); WIG CARDINAL(DATE); SBI 1,598.02 (DATE); CARDINAL
(DATE); LAW (Oct 17/1996); ORG(Feb/1994). ($=CARDINAL lei)",1
"ORG key index set records for a ORDINAL straight session on DATE, achieving new closing and intra-day highs.
The TSE 300 Composite Index rose CARDINAL points to end at CARDINAL, after earlier setting an intra-day high of CARDINAL.
Trading was brisk with CARDINAL shares changing hands worth MONEY (MONEY).
A rally in GPE's currency boosted investor interest in equities. ""It is encouraging that we're up despite the CARDINAL-point drop in the ORG,"" said ORG analyst PERSON.
The dollar strengthened by more than a full NORP cent, ending at C$MONEY (US$MONEY) from DATE's close of C$MONEY (US$MONEY) and propelled the ORG to its ORDINAL record close of DATE.
A bullish article on GPE in GPE's ORG newspaper sparked the rally, a dollar trader said.
Toronto posted gains in all but CARDINAL of its CARDINAL sub-indices -- forestry products, real estate and industrial products. The strong side was led by base metals, pipelines, banks and transports.
Advancing stocks outpaced declines CARDINAL to CARDINAL, with CARDINAL flat.
Small gold prospector PERSON was among the hotly traded stocks. PERSON rose CARDINAL to CARDINAL on CARDINAL shares after DATE's announcement that ORG offered a deal to share in the huge Busang gold deposit.
Placer finished flat at CARDINAL while shares in ORG, which is also negotiating a deal with ORG, dipped CARDINAL to CARDINAL.
Investors shrugged off news that NORP businessman PERSON had filed a MONEY (MONEY) lawsuit in GPE against ORG, claiming part ownership of Busang.
ORG fell CARDINAL to CARDINAL on doubts that its ORG takeover would proceed.
Telecommunications firm ORG jumped CARDINAL to a new closing high of CARDINAL after an analyst upgraded ORG to buy from market perform and raised his DATE target to CARDINAL from CARDINAL.
Copper giant ORG fell CARDINAL to CARDINAL on CARDINAL shares after some investors decided to buy into a newly announced convertible debenture issue.","Some of the Internet startups due to make their debut at DATE ORG computer industry show have little more to their name than a few ambitious entrepreneurs, business cards and a Web site.
But the CARDINAL or so companies scheduled to make presentations to prospective investors at the ORDINAL Comdex Venture Outlook represent the cutting edge of high-technology investment in the mushrooming Internet market.
""There are dozens, maybe CARDINAL, new companies that are being created DATE that have to do with the Internet,"" said PERSON, principal of GPE-based ORG, who assembled the executives.
""It's the biggest thing to hit computing in DATE,"" he said, which is why ORG organisers ORG engaged ORG's group to bring young private companies at the centre of Web innovation to the largest GPE trade show.
Included in the presentations will be the heads of some of the hottest Internet companies, including PERSON, the chief executive of GPE-based ORG, who by some accounts is credited with naming ORG hot new PERSON computer programming platform.
Formed in DATE by CARDINAL members of ORG's original Java team, PERSON DATE unveiled its Castanet package of software development tools for sending out applications and content over the Internet.
Other speakers include ORG Chief Executive PERSON, whose company is backed by such high-profile investors as high-tech guru PERSON and former ORG chief executive PERSON.
Also speaking is PERSON, head of PRODUCT, a GPE-area startup backed by mobile phone pioneer PERSON, which recently launched its PRODUCT linking people anonymously to Web sites of their choice.
PERSON said the list includes access, content and tools companies which are primarily looking at ways to apply Internet technologies to the internal corporate networks known as intranets.
Some companies have CARDINAL or 10 people at the moment, and most have received some venture capital. Many, though, are at such an early stage of financing that the $MONEY fee for a booth at ORG would have been too costly.
Although there was an abrupt slowdown in Internet initial public offerings over DATE, analysts and investors expect the market to heat up again.
The pace of venture investment may not continue at its red-hot rate of DATE, when ORG reported CARDINAL firms received MONEY in venture capital, up PERCENT from DATE. But new investment appears poised to top the DATE record of MONEY.
""Judging by preliminary numbers, it is virtually assured DATE is going to be DATE,"" said PERSON, who is compiling the firm's DATE venture capital survey.
ORG said venture capital funds invested MONEY in DATE.
""The technology category continues to be what's driving overall investment,"" he added.
ORG PERSON admits it remains a difficult task for investors to sort out which companies will be a success in markets that may take DATE to develop despite the intense interest and hype surrounding the Internet.
Furthermore, many startup companies have been forced to reinvent themselves with frequently updated business plans as the fast-paced Internet market evolves.
""It's initially going to be a very big market for a lot of players, and it will be quite some time before we know what the best business models are,"" PERSON said. ""Developing the Internet and electronic commerce ... is going to be a DATE-long process. We're just at the beginning.""",0
"GPE has been warned it risks losing face in LOC if it takes its overseas radio and television services off air, as mooted in an official report.
The report's recommendation that the government close its state-owned short-wave service, ORG, and sell off its fledgling satellite broadcaster, ORG, have been condemned as near sighted and harmful to GPE's image.
""The recommendation that was made was one of the most stupid I have ever come across in my life,"" PERSON, an expert on NORP business ties with the region, said on DATE.
""They are absolutely critical for NORP foreign policy and for business and to cut them off for the sake of such a small amount of money is ridiculously short sighted.""
PERSON, of ORG, is not alone in warning GPE risks losing face with its near neighbours.
Already, GPE has offered to take a cut in NORP aid if this money could be used to ensure ORG future. The service is often the only source of regional news in the mountainous and isolated LOC country.
A former chairman of GPE's national broadcaster and the opposition have also attacked the recommendations, designed to help the government slash its budget deficit.
The report, prepared after a government-ordered review of ORG (ORG), called on GPE to drop its requirement that the ORG provide overseas broadcasts in favour of better funded local services.
ORG, set up DATE by then Labor prime minister PERSON as part of his government's NORP embrace, has so far accumulated losses of MONEY, an industry source told ORG.
ORG, set up DATE under the control of the foreign ministry, airs mainly around LOC in CARDINAL NORP languages and LANGUAGE. It costs taxpayers MONEY per year, the source said.
Both are operated by the ORG and place heavy emphasis on news and current affairs. They aim to present an ""NORP face"" to the region and to raise GPE's profile in LOC.
No decision has been made on ORG future until the ORG and the government discuss the recommendations, but GPE has begun the process of selling ORG.
A merchant bank, Turnbull and Partners Ltd, said it had received CARDINAL expressions on interest in taking over ORG assets. These include DATE DATE of a DATE lease on the NORP owned ORG satellite.
ORG, which is received in CARDINAL countries across the region, has an option for another DATE lease.
If the station cannot be sold, the government has been urged to shut it down. But Communications Minister PERSON has said he personally believes this is unlikely.
In the event of a sale, it is unclear whether ORG will remain a window on the nation, offering such obscure programming as NORP Rules Football coverage. CARDINAL media analyst says it is a commercial dud in its current form.
""NORP will all suffer if the ORG deserts international broadcasting,"" former ORG chairman PERSON wrote in a newspaper column DATE.
""We will be less known and less respected by our neighbours...Our country will lose face in LOC.""
Former industry minister PERSON, an opposition senator, said the demise of ORG or ORG would be another setback for GPE in the region, especially so soon after a flare-up of NORP sentiment here.
""Our public face has suffered terribly and a cut or a change of this sort will be misunderstood in that context,"" PERSON said.
-- ORG CARDINAL-9373-1800","GPE's biggest company, ORG (BHP), has agreed to pay its local steel workers a PERCENT pay rise over DATE in a wage deal which could set the tone for other labour negotiations.
The deal, which covers CARDINAL workers at BHP steel plants around the country, falls short of pay rises being sought in some other areas of NORP manufacturing and provoked sharp words among rival trade unions.
ORG (ORG), which claims to represent PERCENT of ORG steel workers, confirmed the deal on DATE, saying it was struck before DATE and was well below its initial demand of PERCENT over DATE.
But ORG organiser PERSON told ORG that historically low inflation in GPE was putting intense pressure on unions to modify their wage expectations.
""I think in this environment, with the way the CPI (inflation) is, I think the trend in DATE is going to put enormous pressure on wages to be kept low,"" he said.
""So a PERCENT outcome over DATE is going to be seen as quite an achievement.""
ORG (ORG), which wants to make an DATE wage rise of PERCENT as the benchmark in the metal trades industry, said the ORG deal would weaken unions' position in other wage negotiations underway.
""Obviously when that happens, it always weakens other unions' positions, but that's typical of the ORG,"" PERSON, GPE state organiser for the ORG, told ORG.
""They run in there and reach deals that we're not trying to chase.""
BHP, which has been working to slash costs to compensate for weak international steel prices and sluggish demand at home, described the wages agreement as satisfactory.
""Part of the agreement involves union agreement to introduce new types of employment arrangements which eliminate traditional demarcation lines and have novel concepts in terms of employment which provide us with a business benefit,"" a ORG spokesman said.
""We think this is a satisfactory resolution, bearing in mind the benefits of those innovative agreements,"" he told ORG.
BHP initially offered PERCENT over DATE.
The agreement comes as wages growth continues to be cited by GPE's central bank as a major concern for inflation, now sitting well within ORG target range of CARDINAL.",1
"GPE-based transport, logistics and security group ORG said it was actively considering acquisitions in GPE, LOC and LOC in DATE.
Brambles chief executive PERSON told ORG in an interview that GPE would only look at acquisitions in areas where it had NORP experience.
""You should anticipate some acquisition work in LOC, but in businesses we already operate in here,"" he said.  
""Anything new we'll do on home turf,"" he said.
Fletcher repeated that GPE was looking at participating in the privatisation of GPE's airports being carried out before DATE.
Fletcher said the vehicle for airport investment would be PERSON's joint venture company, ORG, formed with property and financial services company, ORG
GPE would look at acquisitions in LOC in the industrial services, waste management, equipment rentals and records management areas.  
Earlier GPE reported a PERCENT jump in net profit to MONEY for DATE. Before abnormals, the net profit rose PERCENT to MONEY, at the upper end of analysts' expectations of MONEY.
Fletcher said the result would have been a bit ahead of brokers' expectations.
""It's a marginally pleasant result rather than a huge shock,"" he said.
Strong growth in earnings from ORG pallet business in GPE helped boost the results.  
Fletcher said the NORP economy, which provides the bulk of PERSON's earnings, remained flat and was expected to remain so for some time.
""We haven't got an expectation that we will get too much help from this economy ... for DATE,"" he said.
The GPE economy remained strong while LOC and GPE were flat, he said.
""But all in all we've got enough things going to see another (profit) increase for DATE,"" he said.  
Profits from GPE overseas operations grew at twice the rate of those from local economies and this trend was likely to continue.
This continued overseas growth would however affect the allocation of franking credits on dividends.
""The continuing growth expected in overseas earnings meant that the company would need to reduce moderately the level of franking of dividends declared on CARDINAL earnings,"" Fletcher said in an earlier statement.
Recipients of franked dividends receive tax credits for NORP company tax already paid by the companies involved.  
PERSON posted a MONEY per share fully franked final dividend for CARDINAL, up from a MONEY per share final dividend in CARDINAL.
The total dividend rose to MONEY per share from MONEY.
Earnings per share rose to MONEY from MONEY.
Brambles' shares were down MONEY at A$MONEY at TIME (CARDINAL ORG).
-- ORG CARDINAL-2 373-1800","NORP record business executives on DATE sang the praises of GPE's crackdown on widespread copyright piracy, saying GPE appeared sincere in its desire to build a legitimate music industry.
NORP companies were eager to establish cooperative ventures with local firms that would allow them to supply music to a vast listening audience currently largely supplied from illicit music production lines, the executives said.
""The NORP market has enormous potential,"" EMI Europe President PERSON told reporters in GPE, adding that GPE was making progress in its crackdown on piracy.
GPE vowed to clamp down on pirates and prise open its cultural markets in a DATE agreement with GPE that narrowly averted a MONEY cross-Pacific trade war over violations of intellectual property rights.
Analysts and some industry figures have cast doubt on GPE's commitment to wipe out piracy, but the music executives said they had been encouraged by their talks with NORP copyright and publishing officials.
""Our conversations with NORP officials in DATE lead us to believe that they are very cognisant of the problem and doing everything that they can to control it,"" said PERSON.
""The laws are in place, they have an understanding of what has to happen and yes, they have had successes in closing certain factories,"" he said. ""We believe that will continue.""
The executives, who are part of a trade delegation to GPE led by ORG Vice President Sir PERSON, said they hoped to build an industry that would develop NORP musical talent for a domestic and international audience.
The MONEY NORP music market had the potential to grow QUANTITY over DATE, industry officials in the delegation said.
""We... tried to explain to the NORP what we could do together,"" said ORG president PERSON, ""They have been pretty receptive to all these ideas.""
""This is our ORDINAL round of meetings,"" said PERSON, senior vice president of ORG. ""We were encouraged.""
Music imports into GPE were still negligible, while pirate sales were estimated at MONEY a year, roughly equivalent to the value of legitimate sales, said PERSON of ORG (IFPI).
NORP music companies were looking for NORP partners to develop the local market, with former pirate firms among the potential wedding partners, the executives said.
While it was impossible to wipe out piracy with a single campaign, GPE's crackdown on illicit production had worried illegal producers and had forced them to shift some production lines to GPE and even LOC, GPE officials said.",0
"ORG, chief executive of NORP cigarette maker ORG, which de-merged from conglomerate FAC in DATE, said on DATE it was difficult to see growth in GPE, although it hoped to make this up by expansion in the Asia- LOC region.
""In Britian it is difficult to see the market growing given the punitive taxes. We are likely to see continued strong growth, though, in LOC of the world,"" he said.  
Earlier, ORG posted profits of CARDINAL stg from GPE in DATE, unchanged from its DATE level but profits from overseas grew PERCENT to CARDINAL.
GPE's Chancellor of the ORG, PERSON, announced an increase of CARDINAL on a packet of CARDINAL cigarettes in his November Budget. After a similar rise in DATE, NORP cigarette sales fell by PERCENT to CARDINAL.
Davies said he expected the same sort of fall again. He said the latest tax rise would fuel smuggling by widening further the gap between taxes in GPE and mainland LOC.","NORP brewer-to-leisure group PERSON, said on DATE the company planned to spend MONEY (MONEY) on the business DATE, creating some CARDINAL jobs.
The company plans a QUANTITY (MONEY) investment programme DATE on its PERSON, converting many pubs to branded concept bars like the trendy All Bar One or NORP pubs ORG and refurbishing community pubs.
DATE PERSON invested, net of disposals, CARDINAL in capital projects, which it calculates created CARDINAL new jobs.
But in an interview chairman Sir PERSON declined to comment on its proposed acquisition of brewer ORG (C-T) which is currently being studied by GPE's ORG on competition grounds. Their decision is expected in DATE.
C-T is a joint venture between ORG NORP and NORP brewer Carlsberg ORG formed in DATE by the merger of their NORP brewing and wholesaling businesses.
""I don't make any comment on that. Our discussions with ORG are obviously confidential. We'll wait and see what the president of ORG says,"" he said.
PERSON shares were CARDINAL lower at 808p by DATE ORG.
""To get the share price to move forward, the company needs to resolve the uncertainty surrounding C-T,"" said PERSON, an analyst at BZW. But he added the company's profits for DATE were at the top end of market expectations and showed the strongest cashflow since DATE.
In DATE PERSON announced the acquisition of ORG's PERCENT stake in the venture for MONEY in cash together with CARDINAL beer brands, among them PERSON, NORP and NORP, CARDINAL breweries and C-T's network of depots.
PERSON and GPE agreed at the same time to merge C-T and ORG, given regulatory approval. If approved, the merger will create GPE's largest brewer by far with PERCENT of the market.
PERSON currently has a PERCENT market share.
PERSON was knocked off its perch as GPE's leading brewer DATE when NORP and GPE (S&N) acquired ORG from NORP brewer ORG, giving it a PERCENT share of GPE's beer market.
PERSON dismissed fears expressed by regional brewers and competitors that a full merger would make PERSON too dominant in the Midlands and PERSON. ""I don't think we are going to have that high a concentration in any region,"" he said.
He also restated that the acquisition would be good for drinkers and reiterated the company's committment not to close any of C-T's breweries.
PERSON anticipates continued buoyancy in GPE consumer spending over DATE from which it will benefit, PERSON said.
The company's ORG profits rose by PERCENT to CARDINAL, while its ORG chain of managed pubs increased operating profit by PERCENT to CARDINAL. The brewery division improved profits PERCENT to CARDINAL while the PERSON soft drinks arm improved profits PERCENT to CARDINAL.
But the leisure division, which includes traditional Gala bingo halls and ORG betting shops, continued to be affected by lower admissions after the introduction of scratch cards and the national lottery. Profits were off CARDINAL pct at CARDINAL.
Coral was hit by a CARDINAL-off cost of MONEY on DATE of DATE when all CARDINAL races at ORG were won by the same jockey. A final dividend payout of MONEY was recommended, making a total CARDINAL for DATE. ($MONEY Pound)",1
"The NORP Industry Minister on DATE angrily reminded the chairman of GPE's ORG of his conditions for an NORP-French nuclear merger on DATE the plan was set to go ahead.
Franck Borotra issued a statement saying NORP interests needed to keep a majority in a merged combination of the GEC Alsthom joint-venture and state-controlled ORG in reaction to the publication of an interview with GEC chairman Lord ORG in which he said he wanted PERCENT.
In a supervisory board meeting on DATE, ORG shareholders are set to appoint Dominique PERSON as chairman and chief executive, replacing PERSON who had openly criticised the plan.
""WORK_OF_ART, would like to recall that the study of a merger of GEC-Alsthom and ORG, undertaken at the behest of GEC and ORG, can only be completed if CARDINAL conditions are respected,"" ORG said in a statement.
The conditions are that the state keep control of strategic decisions concerning nuclear activities, the continuation of GPE-German cooperation on the future ORG power station, preservation of the identity of ORG's nuclear activities, the predominance of NORP interests in the new combination and clear provisions for nuclear risks.
Framatome has a technical alliance with ORG to develop the future NORP nuclear power station.
""These conditions are non-negotiable because they constitute NORP control over its nuclear activities. They (the conditions) should notably lead to a shareholders' pact between the NORP parties,"" the statement said.
PERSON told NORP financial daily ORG the merger talks should not change the balance of power in the joint NORP-NORP venture with ORG.
""The operation concerns mainly the relations within GEC-Alsthom...the balance in the company should not be changed,"" he said. ""We should have the same stake as ORG. Not more and not less. Even if we have to pay a dowry for it.""
ORG has a PERCENT stake in ORG and its chairman PERSON has said in the past that he expected NORP interests to have a majority in the new enlarged group.
In a ORDINAL phase, GPE wanted to float a part of GEC-Alsthom Framatome on the share market in order to focus the venture's management on financial performance.
The NORP state gave a green light to the planned merger in DATE after DATE of opposition to ORG taking a majority stake in ORG.
""Framatome is an important operation because nuclear power will become an alternative again. There are going to be new nuclear construction programmes even though there are none at the moment. GEC Alsthom will have a good card to play with ORG,"" ORG said.
Framatome is currently controlled by the government through state owned energy holding group ORG, with PERCENT, electricity utility EdF with PERCENT and ORG (CDR) with PERCENT.
Asked by ORG whether he accepted the NORP idea of a shareholders' pact, ORG said, ""No. We want to maintain our partnership. We do not want to become a minority that can be manipulated.""","GPE	
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"NORP-based hotels and casinos group ORG launched a huge cash call to fund QUANTITY (MONEY) acquisition of NORP conglomerate ORG's CARDINAL GPE hotels announced on DATE.
Stakis, which has CARDINAL NORP hotels and whose current market value is QUANTITY, said it wanted to raise MONEY via a CARDINAL-for-seven rights issue, set at MONEY per share.
DATE, ORG shelved plans for QUANTITY flotation of its GPE and its NORP-based ORG luxury resort hotels because of the level of interest it had received from potential buyers.
NORP billionaire Prince PERSON has been tipped as the most likely buyer of the CARDINAL CARDINAL-star Princess hotels.
Lonrho, which is in the throes of a demerger, said in a separate statement that the disposal would generate net proceeds of MONEY as well as payments of MONEY in dividends and tax relief that it will receive from the chain.
""The proposed sale of ORG represents an important step in the separation of ORG's mining and non-mining assets...,"" said ORG chairman PERSON.
""The board of ORG continues to make progress with the next steps of the separation process,"" he added in a statement.
The sale of the hotels, which will be followed by the divestment of the group's NORP trading operations, is part of ORG's plans to turn itself into a focussed mining company and ends DATE of empire building by founder PERSON.
Stakis had been the front-runner to buy the conglomerate's GPE chain -- CARDINAL-star hotels with extensive conference facilities -- since rival ORGamp; PERSON  MLC.L pulled out of the bidding race DATE.
In a profit forecast, the hotels group said its profit before tax and exceptionals would be not less than 30.6 million pounds in DATE.
Stakis, which said returns on the acquisition were expected to enhance earnings from DATE, also forecast a final dividend of MONEY per share, giving a total payout of MONEY for DATE -- PERCENT DATE.
Analysts welcomed the deal that helped strengthen PERSON' share price MONEY to MONEY.
""The numbers stack up. I have no problem with their strategy,"" said PERSON, leisure analyst at brokers PERSON.
But some analysts said that PERSON would have to boost profits at the CARDINAL hotels -- in the cities of GPE and GPE and the seaside resorts of GPE and Blackpool -- by PERCENT for the purchase to be profitable.
Analysts, who have said a sale of the hotels is easier and cleaner than a float amid a glut of companies coming to Britian's market, are now awaiting news on whether PERSON has clinched a deal to buy the Princess hotels, which include resorts in GPE, GPE, the LOC and the GPE..
Financial sources in the LOC said DATE that the prince had exclusive rights to negotiate a deal and that the price was MONEY. The prince's key western investments include stakes in GPE luxury FAC hotel, the ORG hotel group, banking group ORG and the GPE GPE theme park. ($MONEY Pound)","GPE-based ORG executives DATE began merger talks with NORP utility ORG in an effort to agree on a takeover price.
ORG's chairman, chief finance officer and attorneys began meeting in GPE with ORG Chairman PERSON, Chief Executive PERSON and their advisers -- the merchant bank ORG -- a source close to the NORP regional electric company said.
No further details were immediately available.
GPE, Va.-based ORG owns ORG.
Dominion and East Midlands agreed to talk despite ORG insistence it would reject any offer from ORG pitched at QUANTITY sterling per share ($MONEY), which would value the NORP company at MONEY (MONEY).
In the ORDINAL potential GPE bid for CARDINAL of GPE's CARDINAL cash-rich regional electricity companies, ORG said DATE that it was considering an offer ""at a price not much in excess of MONEY per share.""
But GPE, the ORDINAL of its wealthy peers to launch a stock buy-back in an attempt to redistribute cash to shareholders, scorned the price as undervaluing the ORG-based utility's prospects.
GPE, the target of consistent bid speculation as CARDINAL of CARDINAL regional electricity companies have fallen to predators and an eighth, ORG, is facing its ORDINAL hostile bid, saw its stock end MONEY (MONEY) higher at MONEY ($MONEY).
Dominion's stock closed up MONEY at $MONEY on ORG.
Some traders and analysts said the GPE market remained unconvinced the NORP utility would launch a bid.
PERSON, utilities analyst at the GPE brokerage, said ORG would need to start merger talks at MONEY ($MONEY) per share, but added LOC was unlikely to recommend a bid much below QUANTITY, or MONEY ($MONEY).
""I do not believe LOC would recommend a bid siginficantly below PRODUCT per share,"" he said. ""I am not saying they would refuse it at the ORG ($MONEY) level.""
Traders also emphasised that ORG could still walk away from the talks amid regulatory and political uncertainties.
A ORG spokesman has said the GPE company was well aware of the uncertainties that surround the purchase of a NORP electrical utility.
A lull in a wave of bids for electric companies came to an abrupt halt DATE when ORG -- jointly owned by ORG and PERSON -- launched a hostile QUANTITY (MONEY) bid for ORG.
The ORG-based utility has built up a stake of PERCENT in a series of market raids on ORG, which became the ORDINAL regional electric company to be faced with a takevoer attempt in DATE.
A costly shareholder package in defence against the unwanted attentions of conglomerate PERSON left ORG with high debts.",1
"A long-delayed NORP mission to discuss the details of GPE's huge state loans to GPE has reached basic agreement on CARDINAL development projects proposed by GPE, NORP officials said on DATE.
Projects involving infrastructure, agriculture and environmental protection were likely to be among the recipients of favourable NORP loans, said PERSON, director of the loan aid division of GPE's ORG.
Final decisions had yet to be made on the CARDINAL projects slated to receive MONEY (MONEY) earmarked for DATE of the yen loan package, which will run DATE, PERSON told a news briefing.
NORP sources in GPE say discussions on the projects had been long delayed because of faltering relations and NORP anger at GPE's nuclear testing that DATE led to the freezing of NORP grant-in-aid.
The MONEY in NORP soft loans due to be extended to GPE DATE were not formally affected by the protest, but no missions to approve their details had been sent since GPE conducted a nuclear test in DATE.
Asked if NORP nuclear testing was a factor in GPE's delay in sending the loan mission, PERSON said that did not appear to be the case.
""At least, our government has never said that,"" he said, adding it was incorrect to say work on the loans had been ""resumed"" -- a word used by other NORP officials.
""It's not a resumption... We never stopped,"" he said.
Relations between GPE and GPE have been strained DATE by a controversial visit by NORP Prime Minister PERSON to a shrine to GPE's war dead and by a territorial dispute over an island group in LOC.
While NORP state media have been quick to condemn what they call resurgent NORP militarism, diplomats say GPE is keen not to allow the disputes to harm an economic relationship in which the soft yen loans are an important part.
ORG spokesman PERSON DATE warned GPE not to use financial assistance as a form of political pressure, saying to do so could only harm ties.
The yen loans, widely seen in GPE as a form of reparation for the suffering inflicted by GPE during EVENT, have themselves been a source of dispute.
The rise of the value of the yen in DATE -- which sent the cost of the loans soaring -- prompted howls of NORP complaints and demands to be allowed to repay in GPE dollars.
GPE refused, but the yen's later decline helped blunt the issue as a potential cause of conflict and both sides have recently shown new willingness to cooperate on other issues.
Prime Minister PERSON has been reported as promising to consider lifting the freeze on grant-in-aid to GPE, but PERSON said that issue would not be discussed by the loan mission.
""That's not my department,"" PERSON said.
($MONEY = MONEY)","ORG is appealing to NORP authorities over taxes on capital imports that would boost the cost of a MONEY semiconductor plant being built in the city of GPE, a company official said on DATE.
Construction of the plant in GPE, TIME drive from the northern port city's centre, was on schedule and production was expected to begin in DATE, said the official, who declined to be identified.
The GPE high-technology giant was appealing to GPE's ORG, or cabinet, over taxes on imports of vital equipment for the semiconductor plant, or fab, he said.
GPE on DATE abolished privileges for foreign-funded ventures that had allowed them to import machinery and other capital equipment free of tax. Investors say the move has dramatically increased the cost of many projects.
""There is an appeal committee within ORG and we are appealing for some tax exemption (for the ORG plant),"" the ORG official said.
He declined to say if the company was optimistic of being granted exemptions, or when a decision was expected.  
An official of ORG information office contacted by telephone said he was unaware of an appeal by ORG over taxes on imports, adding that such matters were the concern of ORG.
Work on the ORG project had already begun, the ORG official said.
""We have already broken ground...Now we are erecting the buildings,"" he said. ""We are looking at DATE, first quarter (to begin production).""
Initial investment in the venture was expected to be MONEY, but the cost of such semiconductor plants could easily rise to MONEY, he said but gave no details.
ORG has been quoted as saying the ORG plant will produce QUANTITY sub-micron wafers a year, making it a major addition to a NORP semiconductor industry that has long lagged far behind its NORP neighbours.
ORG, which has vowed to invest MONEY in GPE, GPE and GPE DATE, generated sales revenues in GPE and GPE of MONEY DATE, the official said.  
The company's GPE plants were considered strategic investments, he said, adding that the local content rate of their products was expected to rise to PERCENT by DATE from PERCENT currently.
ORG's exports from its GPE operations accounted for PERCENT of production value, less than expected because of the breakneck expansion of the domestic market, he said.
""The market here, especially the telecom market, just exploded,"" he said.
State media has quoted ORG executives as saying the number of NORP using pagers is likely to rise by PERCENT DATE to CARDINAL people, making GPE the biggest user of pagers in the world.
ORG currently supplies PERCENT of the domestic pager market, the official said, but declined to give details.
In the competitive mobile phone market -- where ORG is seen as enjoying less success -- the GPE firm was hoping development of ORG) cellular technology would help boost market share, he said but gave no details.",1
"GPE Vice President PERSON on DATE defended DATE telecommunications law against critics who charge it is a failure, saying that the PERSON administration has no plans to try and reopen the act.
""This is DATE of a process of change that will take quite some time,"" PERSON told a group of reporters. He also noted that several key provisions of the sweeping law have yet to be implemented.  
The law, enacted DATE, ripped down DATE legal barriers and encouraged local and long-distance carriers, cable-TV operators, electric utilities and others to invade each other's backyards.
PERSON said the difficult negotiations over the bill during DATE have led most participants to realize just how delicate and complex the legislation is.
""Most reasonable people believe it will be a little time before much of it is opened up,"" PERSON said, echoing the view of several lawmakers on ORG.  
But critics -- including influential GPE NORP Senator PERSON and consumer groups -- complain that despite the bill's enactment, the MONEY local phone market remains a monopoly run by PERSON and other local carriers.
They also note that the MONEY long-distance market remains dominated by ORG, ORG and ORG
Prices for communications services, instead of falling, are rising. Cable-TV rates jumped PERCENT DATE, more than double the PERCENT rise in consumer prices.  
Residential interstate long-distance rates rose PERCENT, while intrastate long-distance rates jumped PERCENT.
PERSON noted, however, that the increases in cable-TV rates are not a result of the new law and that they come within the guidelines established by a major DATE cable-TV law.
Meanwhile, big cable-TV operators such as ORG and ORG have watered down plans to offer phone and other services and are instead defending their own turf.  
PERSON said he was ""surprised"" by those decisions, but added that it has not been universal among all cable companies.
""I rather suspect the pioneers who make these investments will be handsomely rewarded by the market,"" PERSON said. That, in turn, should spur other cable companies to take the plunge and diversify their offerings.
Meanwhile, PERSON aide PERSON told reporters that the administration is sticking by its proposal for an expedited auction of analog spectrum that will be returned by television broadcasters during the transition to digital TV.
Under the administration plan, the government would auction the spectrum in DATE, with digital TV stations required to return their analog channel to the government no later than 2005.","Regulators took the ORDINAL of CARDINAL steps DATE to slash the cost of overseas phone calls for consumers and businesses, making it easier for GPE and foreign carriers to negotiate cheaper international rates.
ORG hopes to save GPE callers MONEY by backing up the new rules with a plan DATE to cut the charges GPE carriers pay foreign phone monopolies to complete calls from GPE.
NORP spend MONEY a minute for a domestic call. But they must shell out an average of MONEY a minute to call overseas -- even though the cost of the calls are not much different, according to ORG officials.
""At MONEY a minute, you're not going to get a global information highway,"" complained ORG Chairman PERSON.
DATE's rules are targeted at countries whose own phone markets are open to competition from GPE carriers, or are in the process of opening. ORG officials cited GPE, GPE, GPE and GPE, as well as LOC and GPE.
The ORG will waive rules that limit the ability of GPE carriers to negotiate cheaper calling rates with an overseas phone company whose own market is considered open. The rules were crafted to prevent market abuse by foreign monopolies.
PERSON, head of the ORG's ORG, said the new rules ""will allow competitive pressures, rather than archaic rules,"" to govern the telecommunications market.
ORG Vice President PERSON said they ""can lead to a significant reduction in the amount that NORP consumers pay for international telephone calls.""
Under the new approach, a company such as ORG -- with ORG approval -- could ask competing foreign carriers to bid for the right to handle AT&T phone traffic from GPE to a foreign market.
Alternatively, a GPE carrier could offer end-to-end service from GPE to a foreign market without using the existing rate system for completing calls.
Officials say these ""accounting rates"" run CARDINAL times actual costs, reflecting the power of state-run monopolies unexposed to home competition. GPE carriers paid their overseas counterparts MONEY more in DATE than foreign companies paid GPE carriers to complete calls.
While the accounting rates paid by both carriers are about equal, the imbalance reflects the fact that many more overseas calls are made from GPE than into this country.
International calls from GPE account for DATE of all international calls worldwide.
To reduce the rates, the ORG proposal scheduled for DATE would set ""benchmark"" rates for what GPE carriers could pay foreign carriers to complete calls. These rates, according to ORG officials, would better reflect actual costs.
The agency must still work out the details of how long a country would have to lower its rates and what steps could be taken if it refused to do so.
The ORG actions come as GPE is seeking to open overseas telecommunications markets through talks sponsored by ORG.
GPE has big rate imbalances with GPE, GPE, GPE, GPE, GPE and GPE, among others. DATE proposal is likely to ruffle feathers.
""There will be concern from countries around the world with the benchmark item. There's no doubt about that,"" said the ORG's ORG.",1
"GPE's oil industry earned higher export revenues from booming world prices in DATE but has started DATE increasingly worried about the slow pace of recovery in demand at home, energy analysts said on DATE.
Domestic producers, taking advantage of international oil prices which soared PERCENT in DATE to their highest in DATE, jammed crude oil export outlets DATE.
But analysts said that while companies would continue to try to sell as much as possible abroad, higher demand at home -- NORP oil's main future customer -- was not yet in sight.
PERSON of GPE's independent ORG and ORG said DATE could show either a recovery in output or yet another slide.
""It's possible we will see stabilisation and possibly even some growth but it all depends on what the government does with taxes and the production-sharing law,"" he said.
NORP crude oil output in DATE could rise to QUANTITY per day (bpd) from the DATE estimate of CARDINAL bpd and would probably not dip below that level, he added.
That could mean a significant turnaround for the world's ORDINAL-largest oil producer, which has seen output nearly halved since its DATE NORP-era peak of CARDINAL bpd and is still struggling to slow the pace of decline.
ORG, which has not finished compiling DATE results, said in DATE that crude oil and gas condensate output over DATE had slipped PERCENT to QUANTITY.
Exports of CARDINAL of GPE's output jumped PERCENT year-on-year over DATE to QUANTITY, it said.
But producers used the extra cash to pay off debts and wage arrears, not to rehabilitate wells or drill new ones.
Deputy Fuel and Energy Minister PERSON said in DATE that GPE conducted no exploration for new oilfields DATE for the ORDINAL time since EVENT -- an unsettling sign since most of GPE's ""easy"" oil has already been produced.
""We believe that the general trend is stabilisation but that it will differ from company to company,"" said PERSON, a GPE analyst at ORG in GPE.
""But further growth is constrained by limits in domestic demand and export capacities,"" he said, adding that higher export earnings had not underwritten the giant cost of structural transformation needed in the NORP industry.
PERSON said bottlenecks in export outlets and flat demand from industrial consumers meant the NORP market was in fact oversupplied with crude oil and oil products for most of DATE.
""To increase output which can't be disposed of on the domestic market or be exported due to bottlenecks is crazy,"" he said, adding that oil companies could have technically produced CARDINAL to CARDINAL bpd in DATE but elected not to.
NORP wholesale producer prices for crude oil are CARDINAL-55 percent of world levels and reach only PERCENT after tariffs and transport costs are tacked on.
PERSON said crude oil exports would at least equal DATE's CARDINAL bpd DATE and possibly hit CARDINAL and refinery throughput would be flat at CARDINAL bpd.
But he also said GPE's political and economic uncertainties could wreak havoc in the industry, adding: ""It's a big crazy mixture of unpredictable things.""
- Moscow PRODUCT, +7095 CARDINAL 8520","NORP diamond giant Almazy- Rossii Sakha (ARS) said on DATE officials were battling for control over GPE's lucrative gem sector but a forthcoming deal with ORG was in sight.
ARS president PERSON told a news conference that a long-delayed trade agreement with the NORP gem giant could be signed by DATE.
But he said NORP Prime Minister PERSON, who could have a chance to sign the deal as soon as DATE, would put it off until DATE because of a government probe of ORG's finances -- a probe ORG says may be part of manoevres among government officials for influence over the group.
The investigation and struggle for control over ARS come as the diamond company seeks more scope to export independently of ORG. ORG supplies a quarter of ORG output, nearly all GPE's diamonds and is GPE's sole authorised exporter.
Shtyrov said that under the trade agreement with ORG, based on a memorandum initialled in DATE, ARS would have the right to export MONEY of gems a year independent of ORG, or PERCENT of ORG's MONEY in sales DATE.
That could yield a rich trove of influence and power for whichever government ministries succeed in gaining the upper hand in controlling those sales.
ARS, which gave GPE investment bank ORG a mandate in DATE to raise MONEY in capital, wants to increase exploration and mining operations -- giving officials more incentive to grapple for control of the state-owned firm.
""We're very seriously worried about the recent accusations, which come at, and I say this in quotation marks, at an appropriate moment,"" said PERSON, president of the vast PRODUCT region in LOC where ORG is based.
He told the news conference he was referring to the impending ORG deal and to ORG's plan to raise funds abroad.
The probe, which follows charges from tax officials and the prosecutor-general's office that surfaced DATE, revolve around alleged unpaid taxes and breaches of hard currency regulations for which fines could total MONEY.
Nikolayev said ORG had no tax arrears to the federal budget, and that ORG investigations into ARS finances turned up so-called insufficiencies but no major problems.
""They (the charges) are extremely debatable,"" said PERSON, adding that government questions over how to value raw gems supplied to ARS when the company was set up in DATE were questions for accountants, not for lawyers.
He said ARS would defend itself in GPE's courts if it had to and restore its reputation with partners.
""If the result of all of this is that we lose our investment projects, then we will consider that GPE has lost -- and we will just eat bread and butter,"" he said.
Shtyrov, who is also vice-president of ORG, said industry officials were struggling for influence over ARS.
ORG said PERSON, former head of the recently disbanded ORG, or ORG, was still an influential figure in the industry.
Komdragment was broken up by presidential decree in DATE and ORG has assumed its functions.
ORG said GPE's diamond sector would see stability, in spite of plans by some officials to give domestic cutters and polishers a greater cut of gem output.
""There are always rumours of a major shake-up and reorganisation of the NORP diamond industry, but they are not founded,"" he said.",1
"Far from the hoopla of the GPE presidential race, PERSON youngest son, PERSON, has been tossing footballs on GPE's windswept prairie and relishing his relative anonymity.
To football fans in this small western GPE city, GPE is better known as the quarterback of their beloved WORK_OF_ART than the son of the NORP NORP vice-presidential candidate.
""It's nice to have your own identity. Up here I'm a Roughriders quarterback and not PERSON's son. I'm proud of my dad, but it's great to be in GPE,"" PERSON, DATE, told ORG during a recent interview at a local sports pub.
The well-mannered, cherub-faced ORG is finishing DATE in ORG. He was traded to the LOC team DATE after stints with ORG and the now-defunct GPE NORP and ORG.
As the DATE election nears, ORG said he does not get too bothered about his high-profile father. The local press has pretty much left that part of his life private.
""WORK_OF_ART,"" the Regina ORG newspaper said in a story about the young quarterback when he arrived in town.
Before going to NORP, PERSON joined his family at the NORP convention in GPE and pondered quitting football to work on his dad's campaign. But the elder PERSON, a former ORG quarterback who tried out for the ORG's ORG in DATE, urged his son to continue playing.
""We prayed and talked about it and my dad wanted me to take this opportunity that has been given to me,"" said PERSON, who has since enjoyed some success with NORP.
A back-up when he arrived in GPE, GPE was forced into the spotlight after the club's other quarterbacks fell to injuries.
Kemp had the best game of his career DATE, passing for CARDINAL touchdowns in a come-from-behind win against PERSON. But the team struggled DATE and failed to make the playoffs.
""I think I'm good enough to start in this league. I don't think I'm a great quarterback right now, but I need to play more and go through a training camp,"" he said.
PERSON has kept a close eye on his son's football career. He flew to GPE CARDINAL times DATE when PERSON played for GPE and they talk frequently about football over the telephone.
""He's incredibly encouraging. Even to the point that it gets on my nerves sometimes because he is a very proud father and he thinks anything that I do is great,"" the younger PERSON said.
Despite living on the NORP prairies, ORG keeps tabs on his father's campaign. He watched the vice presdential debate on ORG and catches the programme ""DATE With PERSON"" before a DATE game.
He said he did not have much faith in opinion polls that show the PERSON/PERSON ticket lagging far behind the NORP team of President PERSON and Vice President PERSON.
""I think people can change their minds easily and I think the support for PERSON is soft. I guess it doesn't look good, but I think they've got a chance,"" PERSON said.
Kemp does not plan to follow his father into politics, but he does not rule out getting involved at the local level.
""I'm not sure my dad was interested in politics when he was DATE. My brother (PERSON) is probably more of a politican than I am, but I do care about the issues,"" he said.","NORP fast ferry and transport group ORG plans to further expand operations in LOC before moving into the NORP market, managing director PERSON said in an interview.
""We currently have operations in LOC and northern LOC and we can't see any reason why we can't start doing the same thing in the LOC,"" Butcher told ORG.
Butcher said PERSON was likely into expand into LOC in the future as the cost structure for operating fast ferries improved in some markets in the region.
""We could be seeing the cost structure changing in LOC, so we are likely to move into some markets in north LOC and south east LOC,"" Butcher said.
He said that as incomes rose in LOC the amounts charged for ferry services would rise, making it more economical for operators like NORP to enter the market.
NORP company secretary PERSON said the company was also looking at fast ferry services from PERSON to GPE, but he did not expect a decision to be made for DATE.
""It is one of a number of projects we are looking at in the region,"" he said. He said ORG had looked at particular routes within GPE and GPE, but they did not fit within the company's plans. ""I would imagine in DATE we would have something up there (in LOC),"" PERSON said.
Holyman shares have had a lacklustre performance in DATE of listing, but since DATE the shares have more than doubled making the stock one of the strongest sharemarket performers over DATE.
The shares listed in DATE at A$MONEY and hit a high of A$MONEY on DATE and are currently trading around A$MONEY.
The GPE-based group was floated on the local bourse in DATE, as part of a spin-off from ORG, when the transport group was selling assets to trim its high debts.
""The stock really took some time to get off the ground,"" Butcher said.
""I think there has been a lot of hard work done over DATE to educate shareholders in what the company is doing and where the company is going as there was a perception out there that we were a mismash of businesses,"" Butcher said.
ORG's main activities are its fast ferry services in GPE, across LOC between GPE and LOC, GPE and in GPE. It also operates a gas pipeline, bulk commodity handling and freight forwarding businesses.
""There are a number of different projects and businesses, we found there are quite a lot of common threads going through,"" Butcher said. ""I think these operations all have their own place and there are opportunties to expand these further,"" he said.
Butcher was with ORG for DATE before taking charge of NORP when it split from ORG.
Butcher said the group had no plans to raise capital to fund the expected expansion, as the company was well financed.
In DATE, ORG bought a fast passenger ferry for MONEY. He said there was no plans for any immediate purchases of further ferries following the latest purchase.
Butcher said he could not comment on its trading performance or earnings forecasts.
Holyman reported a net profit of MONEY in calendar DATE. The group posted a net profit of MONEY in DATE, up from MONEY earlier.
-- ORG CARDINAL-2 9373-1800",0
"Pilots in GPE are becoming better connected thanks to the Internet, says the general secretary of GPE, PERSON.
The association says it is now giving each of its CARDINAL members an e-mail address so they can stay in touch no matter where they are flying.
Findlay told ORG in an interview that his members already find out what's happening by using a telephone modem to access the association's bulletin board. With CARDINAL members based outside GPE, the association says it's becoming increasingly popular. Committee members who are also airline pilots constantly flying all over the world also can stay in touch with union business via their laptop computers.
""We've had the bulletin board for DATE now and its very well used. It's fairly sophisticated and updated DATE so pilots can access our newsletter. It also has its other uses like a leisure forum and a 'for sale' site,"" Findlay said.
Now members will be able to send and receive messages by GPE anywhere in the world and the eventual aim is to have a website page specifically for GPE pilots, he said.
""It's the way to go,"" Findlay said. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017","With ORG losing market share and floundering in new markets, Wall Street had been expecting a well-known industry leader to take over from Chairman PERSON and turn the company around.
Instead, ORG has recruited a relative unknown, PERSON, chairman and chief executive of ORGamp; ORG He may be up to the job, but the market will be kept guessing for DATE while PERSON serves out his time.
""He may be exactly what they need, but we won't know for a while,"" said consultant PERSON of ORG.  
Analysts and consultants say PERSON is well respected but has never faced the scale of challenge he will find at ORG, which bestrides the crossroads of communication, software, computing and the Internet.
""AT&T is the biggest battleship you have ever seen. PERSON is not a small company, but ORG is CARDINAL times the revenues and has CARDINAL times the employees,"" said PERSON, a consultant at ORG.
AT&T appointed PERSON as its new president and chief operating officer, effective DATE.  
But he will not take over as chief executive from GPE until DATE. DATE he will become chairman at ORG's DATE meeting.
""PERSON does have an image problem, though I don't have that opinion of him,"" said PERSON of SBC GPE, who cut his rating on ORG stock to hold from buy DATE. ""The long handover period is an issue for the market.""
AT&T's share in the MONEY long distance telephone market has fallen to PERCENT DATE from PERCENT DATE. Marketing stumbles hurt earnings in DATE, and investors are losing patience, analysts say.  
AT&T stock was down CARDINAL points at CARDINAL at TIME EDT/1600 ORG in heavy volume. Adjusted for the split-off of ORG, ORG shares have fallen PERCENT DATE, about the same as the broad market has risen.
Sine said of PERSON, ""This is not a candidate to lead the rally.""
Analysts say top candidates to succeed PERSON, such as PERSON of Eastman Kodak, may have been put off by the lengthy DATE transition time while PERSON remains in charge.  
""I heard the reason ORG didn't take the job was the DATE delay before taking the reins,"" PERSON said.
However, a source close to ORG, speaking on condition of anonymity, said no tentative or firm offer was made to any candidate who subsequently withdrew. AT&T declined comment on the matter.
""I was expecting DATE (handover) at most,"" said PERSON, an analyst at consultancy ORG and a former ORG executive. ""I think most insiders were too.""  
Walter has qualities and experience that ORG will be able to make good use of, analysts said. His printing company specialized in high volumes and quick turnarounds.
""That's a good quality to have at AT&T because you are talking CARDINAL of phone calls DATE,"" said PERSON.
Donnelley is a formidable user of technology and has used telecommunications to transform its business. It is also a significant customer of ORGamp; Wireless Plc Chief Executive PERSON spoke favorably of PERSON.  
""I think AT&T is fortunate to get PERSON,"" PERSON told ORG. ""PERSON is a leader...He know the telecoms world but he is not directly involved. He's a quick study.""
On the downside, there is the huge leap of scale and the different nature of ORG's business. PERSON is a project-based company, while ORG is a process-based company requiring different management techniques.
While PERSON has made great inroads in the business market where PERSON finds its customers, he has little experience in consumer markets where ORG is having its biggest trouble fighting off aggressive competitors.
In an interview DATE, ORG magazine that he would be prepared to step down early ""if we find God, or something short of that..""
PERSON has found some adherents at ORG, but the stock market is not yet ready for a conversion.",0
"ORG plans to release a new line of computers DATE that will run an operating system written from scratch, Chief Executive PERSON said on DATE.
The new operating system -- the fundamental software that controls the basic functions of the computer -- will leapfrog ORG competing family of Windows software, Amelio told investors at ORG conference in GPE.
""When you are the minority player in the marketplace, as we are, you need something other than market share to distinguish yourself,"" Amelio said.
Amelio declined to specify what the new software would look like or how it would outperform Windows. But he promised it would ""completely change the way"" people get their work done on computers through applications, such as word processing and spreadsheets.
DATE, ORG said it would abandon the overhaul of its ORG operating system, an effort code-named GPE. Apple programmers will use some of the components of GPE but will practically start from scratch, Amelio said.
Amelio also told investors, as he has done recently, that increasing the struggling computer maker's revenue and market share would not be a priority until he could improve the company's operations and product lines.
The effort may take until DATE.
""I have to have a solid foundation before I can build a castle,"" Amelio said. Without a solid foundation, ORG would improve its financial performance for DATE but slide again, he said.
ORG, whose headquarters are in GPE, GPE, reported an unexpected profit of MONEY for DATE, down from a profit of MONEY DATE. Many on Wall Street had expected the company to post a loss for DATE.
Investors have given Amelio credit for moving quickly to improve product quality, cut costs and fix production snafus. ORG is likely to report good progress in DATE as well, said PERSON, president of ORG and an investment fund. it faces ""worrisomeDATE, PERSON added.
""Amelio's getting closer to fixing the company's problems,"" he said, ""but we're not going to go back in yet.""","ORG unexpected DATE profit initially impressed Wall Street, but some analysts said DATE that the computer maker was not out of the woods yet.
Apple on DATE reported a profit of MONEY for DATE, defying Wall Street's expectations for a loss. But analysts said that a steeper-than-expected PERCENT drop in revenue in DATE could hurt the computer maker's prospects in DATE.
The analysts said sluggish revenues could force ORG to skimp on research and development spending just as rivals ORG and ORG are preparing innovative software for personal computers that could permanently squelch ORG's technology and ease-of-use bragging rights.
""ORG's never hit a wall like this before,"" said PERSON, an analyst at ORG in GPE. ""They've never seen their sales drop this much before. It's possible they can recover, but unlikely.""
Analysts attributed ORG's profit, equal to MONEY a share, to aggressive cost cutting, lower prices for memory chips, as well as a CARDINAL-time gain of MONEY. In DATE, the GPE, Calif.-based company earned MONEY, or MONEY a share.
Revenues fell to MONEY from MONEY.
While ORG's machines remain popular in education and publishing, the company has lost many customers to ORG, ORG, ORG and other competitors.
The man hired in DATE to revive the company, PERSON, the former head of ORG, has cut costs aggressively but has not found a way to boost sales.
In DATE, revenues will be about even with the MONEY reported for EVENT, ORG executives said.
The prospect of flat sales during DATE, typically the DATE's busiest, could finally convince loyal developers of educational and consumer software to defect, further loosening ORG's hold on those markets, analysts said.
""I can't remember the last time ORG's revenue declined in DATE from DATE,"" said PERSON at ORG in GPE. ""DATE is supposed to be ORG's high-water mark. This isn't a good sign.""
The cautious comments were reflected in ORG's stock, which retreated after an early-morning surge to close at $MONEY, up MONEY, on Nasdaq. Earlier, the stock was MONEY.
ORG, which lost MONEY in the three prior quarters, has been slow to introduce new products.
It is not expected to release a new line of low-cost ORG machines aimed at consumers until DATE, and it has been slow to replace a glitch-prone line of ORG portable computers. A new PRODUCT line is expected to be unveiled on DATE, analysts said.
In a conference call with reporters and analysts, ORG Chief Financial Officer PERSON said PRODUCT sales were expected to fall MONEY in DATE, adding to pressure on revenues.
PERSON also said the company's research and development budget would probably be flat DATE.
But the MONEY or so that ORG spent in DATE will not keep up with ORG and ORG, which are each pouring MONEY into improving the multimedia and Internet capabilities of personal computers, analysts said.
""Where are ORG's innovations going to come from?"" said PERSON at market researcher ORG ""They've got to come up with something new, something from the ground up.""
In DATE, ORG's share of the domestic computer market fell to PERCENT from PERCENT in DATE, PERSON said. The rest of the PC market is expected to grow PERCENT DATE.
""Apple was the only vendor of the top CARDINAL PC makers to fall in shipments DATE,"" PERSON said.",1
"NORP-based metals recycler ORG on DATE painted a bleak picture for world scrap metal prices over DATE and said this meant the group's net profit for CARDINAL would be lower than in CARDINAL.
But it said it remained confident it could take advantage of a recovery in world markets when it came and was currently in talks to buy a large NORP scrap metal business.
Simsmetal managing director PERSON told the DATE meeting that scrap prices had softened dramatically to their lowest levels in DATE over DATE.  
""Until there is an improvement in the major economies of LOC and LOC and the resulting increase in demand for metals, we expect trading conditions to remain very difficult with volumes, margins and earnings below our expectations,"" PERSON said.
He later told reporters profits for DATE would be below the MONEY posted in CARDINAL -- a result that was itself PERCENT down on DATE.
""It will be lower for DATE,"" PERSON said.  
Simsmetal had previously only said it saw difficult conditions prevalent in DATE of CARDINAL continuing into DATE, with DATE profits falling.
In DATE, ORG announced its net profit for DATE of CARDINAL fell PERCENT to MONEY.
PERSON said the world construction markets which used the long steel produced by electric furnaces supplied by ORG remained weak and had no immediate prospect of improvement.
""Our view is that we should start to see some improvement (in ferrous metals prices) towards DATE, we may see it in the middle (of calendar DATE),"" he said.  
""We can't see too much on the horizon at this time,"" he said.
PERSON also said ORG was in talks to buy a large NORP business in the same area as ORG, but he said he could not give any more details as he was bound by confidentiality agreements.
""It's in the GPE For us it will be quite large,"" he said.
""We still need to balance our portfolio there, so that we've got a good broad coverage,"" he said.
""We'll use either some cash or our unusued borrowing lines. We've got no problems funding it.""  
He said ORG had ended DATE with MONEY cash on hand.
""I guess we'd only be using PERCENT of our borrowing capacity at the moment.""
Simsmetal had total non-current borrowings of MONEY as at DATE, giving a total warchest for possible acquisitions of MONEY.
Earlier in the DATE meeting, PERSON said that any closure of ORG GPE steel plant would not affect Simsmetals operations.  
PERSON said ORG supplies most of its products to ORG's GPE mini-mill and its LOC plant, south of GPE.
""Maybe it will make life easier for us because we will be able to buy more scrap,"" PERSON said, responding to a shareholders question.
Simsmetal's shares were up MONEY at A$MONEY at TIME (DATE ORG).
-- ORG CARDINAL-2 9373-1812","Shares in LANGUAGE soccer champions ORG powered to record highs on DATE after the club's chief executive said the club was a likely bid target.
""Any successful company is an attractive takeover prospect. People are going to look at it, so it could well be the subject of more takeover proposals,"" chief executive PERSON was quoted as telling The ORG.
GPE's ORG quoted PERSON as saying that any proposals would be given serious consideration.
""...If it arises, then we would have to look at it as and when. We would have a responsibility to talk. But it would have to be in the best interests of the shareholders and the supporters.""
The speculation sent ORG shares soaring to record highs of over QUANTITY -- valuing the club in excess of MONEY (MONEY).
The club responded to the swirl of speculation with a statement that its board was not aware of any bid approaches.
""...we have noted the recent media coverage suggesting that ORG have received an approach which may lead to an offer being made for the Company. The ORG is not aware of any proposals,"" the club said.
The shares came off their highs after the statement but were still 42 1/2p firmer at FAC at TIME.
United shares have jumped from under QUANTITY at DATE as the club won the coveted LANGUAGE league and ORG double.
The rise has also been fuelled by a lucrative new television deal signed by ORG with satellite broadcaster BSkyB which will virtually treble television income for top LANGUAGE soccer clubs..
United are reported DATE to have rejected a takeover bid from publishing group ORG which valued the club at MONEY. ORG did a deal with ORG in DATE to buy the publishing rights to club videos and books.
The ORG article named brewer ORG and media and leisure group ORG as potential bidders.
It reported that PERSON, who has a stake of PERCENT in GPE, has said privately that it would require a bid of MONEY to buy the club.
Granada has strong ties with the Manchester area, operating the ORG commercial television franchise for north-west GPE. It is also known to be interested in developing a ORG magazine TV channel with the club.
But sources close to GPE effectively ruled out a takeover bid, saying that the company remained focused on digesting its acqusition of leading NORP hotel group ORG DATE.
ORG poured scorn on the suggestion.
""We would love to buy the club but there are as many beer drinkers in GPE, GPE and ORG,"" a ORG spokeswoman said, adding that ORG would not want to do anything to upset customers who were fans of other clubs. ""The report is complete rubbish.""
Share analysts say that the huge interest in soccer and the potential growth in revenue from pay-per-view television deals make a bid likely for ORG at some stage in the near future.
Pay-per-view is expected to be introduced before DATE following the planned launch of digital satellite television by BSkyB DATE. It could generate MONEY for clubs like ORG, the best-supported team in the country. ($MONEY Pound)",0
"NORP Unipetrol a.s. on DATE announced a long-awaited plan to convert shares in GPE a.s. and PERSON a.s. into ORG shares.
In a joint statement the boards of GPE, ORG and ORG, the country's new petrochemical holding company, said they agreed to swap CARDINAL ORG share for CARDINAL ORG shares, and CARDINAL ORG share for CARDINAL Unipetrol shares.
The plan, to complete the complex partial privatisation of the CARDINAL largest NORP petrochemical concerns, was agreed at a meeting on DATE of the respective boards, but an exact ratio must still be approved by general shareholders meetings.
ORG and ORG shares have traded virtually level for DATE as investors hoped for possible arbitrage trades if either firm's shares got an advantage in the swap.
Ahead of the news on DATE, ORG shares were fixed CARDINAL crowns above DATE's close on ORG (PSE) at CARDINAL, while ORG finished the ORG's DATE trading session CARDINAL crowns higher at CARDINAL.
The ORG statement said the ratio range was determined by ""the current results of appraising the assets and liabilities of the involved companies.""
Equities analysts said that because the announced range of the conversion still allowed for overlap in the final decision and did not give a clear advantage to CARDINAL company's shares, immediate arbitrage possibilities were slim.
But they said that the fact that the boards were nearing a decision on a very complicated issue should give a mild boost to shares in GPE and GPE.
""I don't see any arbitrage opportunity at this moment,"" said ORG PERSON. ""But now that the exchange ratio is being announced, I believe it will help the shares in both companies.""
PERSON, at ORG, agreed that the movement toward a decision would be a plus to the shares.
""What is positive is that they agreed on a ratio (range). It's important so that both companies can finally be folded into Unipetrol and more foreign capital can come in,"" ORG said.
Under a complicated privatisation of the NORP petrochemical industry, ORG and PERSON's refining operations were merged into a subsidiary of the newly-created ORG DATE called ORG a.s..
Unipetrol, in which the government currently holds a PERCENT stake, has a PERCENT stake in ORG,
The ORG consortium -- comprising GPE ORG unit PERSON, ORG, and GPE's Agip SpA -- acquired a PERCENT stake in GPE under agreement with the government DATE.
The share swap would complete the transfer of the rest of GPE and PERSON as subsidiaries under ORG, which acts as a holding company, and would dilute the state's PERCENT stake in ORG.' -- Prague PRODUCT, CARDINAL-2-2423-0003","NORP President PERSON on DATE said he was deeply disturbed by a NORP court's DATE prison sentence on dissident PERSON who was accused of plotting to overthrow the government.
Havel, himself a former dissident against a NORP government, said in a statement that after the DATE sentence DATE against PERSON, a leader of GPE's small democracy movement, ORG's sentence was ""unacceptable"".
PERSON, DATE, was sentenced to DATE in prison on DATE after a brief hearing. PERSON was sentenced to DATE in jail DATE on a similar charge.
Havel said in the statement issued by his spokesman, that ORG's sentence ""was another example of the unacceptable understanding of the position of the citizen in society.""
The statement added that ORG expressed his ""deep dissatisfaction"" over the decision.
It said ORG ""considers it his obligation to express his solidarity with those who anywhere around the world express, in a non-violent way, their free-mindedness and desire for justice and elementary human rights.""
Havel, once a dissident playwright imprisoned several times by a NORP government before DATE DATE, has been a frequent diplomatic thorn in GPE's side.
The NORP president said DATE he regretted that GPE, which ORG regards as a renegade province, is not a ORG member. However, the NORP officially still recognise only GPE as a sovereign state and not GPE.
Havel angered GPE DATE with a highly publicised meeting with GPE's Premier PERSON, forcing a hurried re-statement of the PRODUCT' official ""One-China Policy"".
Earlier on Thusday, the NORP foreign ministry asked GPE's chief diplomat in GPE, charge' d'affaires PERSON, to the ministry where a statement of protest was read.
""GPE expresses its dissatisfaction over the conduct of the trial and the judgment carried out,"" said a text of the statement issued by the foreign ministry.
It said that although there were differences in traditions of understanding questions of human rights in different regions, ""there exist certain universal principles of maintaining human rights which are necessary to respect"".
NORP foreign ministry spokesman PERSON said in GPE that the jailing was not a human rights issue but an ordinary legal matter.
The NORP ministry statement said criminalisation of freedom of speech was ""a violation of elementary human rights"".",1
"A furry hedgehog, idyllic sunsets and the meaner streets of ORG seem unlikely moneyspinners, but such images are crowding GPE's airwaves as the DATE mutual fund season kicks into gear.
Armed with high-powered ad campaigns, eager fund sellers are vying for MONEY NORP will pour into registered retirement savings plans (RRSPs).
With interest rates at DATE lows and stocks at stratospheric heights, investors are expected to shun interest-bearing investments for higher yielding mutual funds before the DATE deadline for PERSON contributions.
""We're in the thick of it right now and it's going to get busier and busier toward the end of the (RRSP) season,"" said PERSON, vice-president of marketing for ORG, GPE's top fund company with MONEY (MONEY) in assets.
TAX BENEFIT IS A DRAW
GPE introduced RRSPs in DATE to allow people without registered pension plans to save for retirement. Investors can deduct the amount from their taxes for DATE income.
Besides being a tax benefit, RRSPs have become more popular as traditional pension benefits are scaled back.
NORP have MONEY (MONEY) stashed in mutual funds, an QUANTITY increase from DATE. MONEY (MONEY) will be added to the pot DATE.
Fund companies also expect a big chunk of the MONEY (MONEY) currently invested in guaranteed investment certificates and term deposits to shift into funds.
In what has become an annual rite of the NORP winter, fund sellers flood the airwaves with promotions, hype and gimmicks to lure RRSP dollars. But, unlike GPE, NORP broadcast rules prohibit companies from making performance claims on television or radio.
""That's why you get fuzzy advertising. They talk about lifestyle and emphasise branding,"" said PERSON, director of research for ORG, a lobby group representing CARDINAL fund companies.
Soft-sell ads feature happy people in tranquil settings with simple messages such as ""We're here to get you there,"" or ""quietly creating wealth.""
NEXT GENERATION THE TARGET
Some firms are targeting the next generation of investors. PRODUCT, a member of ORG, launched a ORG in DATE to teach youngsters about mutual funds.
When a parent opens a minimum C$MONEY ($MONEY) account, his child gets a stuffed ""WORK_OF_ART"" toy, a certificate and a colourful book explaining ""WORK_OF_ART.""
""This is a chance to give a gift to your kids that is tangible and gets them into the habit of investing,"" said CT Global President PERSON.
Other ads feature smartly tailored people using words such as ""discipline"" and ""performance"" to trumpet their firm's investment strategy.
Spectrum United Mutual Funds' gritty commercials highlight its team of tough global fund managers, including one who scored a big success investing in a GPE security company.
To add levity to DATE, ORG's campaign pricked the balloons of so-called ""experts"", but there was little information on the bank's own funds.
Critics complain that GPE's advertising rules insult investors' intelligence.
""Mutual fund regulators are convinced that mutual fund investors are ignorant dolts who need to be protected from themselves and the industry. The result, as far as radio and television are concerned, is a MONEY river of non-information,"" ORG columnist PERSON wrote recently.
SCANDALS MAY MEAN TIGHTER CONTROLS
But regulators are unlikely to relax their grip on the industry. In fact, the rules could tighten after recent scandals such as the Veronika Hirsch affair.
PERSON was a star stock picker hired DATE to spearhead GPE-based ORG drive to dominate the NORP market. But she was removed from her portfolio in DATE amid a controversy over personal trades she made before joining the world's biggest mutual fund company.
ORG also offered clients their money back without penalty. ""We were pleased that the number of people who did take advantage of it was less than our expectation,"" said spokesman PERSON, but he did not give any numbers.
Hirsch's ORG is now under a less flamboyant manager and has accumulated MONEY (MONEY) in assets since its launch DATE.
PERSON's status was under discussion, ORG said, but a separation package was rumoured to be under negotiation.
FALLOUT PROMPTS GUIDELINES REVIEW
The fallout from the PERSON affair prompted a review of the industry's guidlines for fund managers. ""It has opened up some concerns, but those are being addressed. Now we are seeing whether more should be done,"" ORG said.
While analysts said it was difficult to assess the damage to the industry's credibility, the PERSON affair changed how companies sell their product.
Brash campaigns built around high-profile stock pickers are out and the ""team"" is in, analysts said.
GPE's Big Six banks are also heavy advertisers DATE as they strive to become bigger players in a industry dominated by independents.
CARDINAL banks are now among the top CARDINAL firms, with ORG number CARDINAL behind ORG amd ORG
The banks were allowed to enter the mutual fund business in DATE and now account for PERCENT of the industry's assets. Fund management fees have helped propel bank profits to record highs in DATE.","""WORK_OF_ART"" -- PERSON counter-culture anthem of the DATE's  -- is being used in a commericial for a NORP bank and some fans are up in arms.
ORG is running a television commercial using the NORP singer's DATE folk classic to lure baby boomers into the country's ORDINAL biggest bank. The TV spot shows children running down country roads and across lush fields as a choir sings PERSON's song.
The commercial ends with a ORG logo and the promise of a big announcement on DATE.
The new campaign has drawn fire from PERSON fans angry that a big institution has co-opted this protest song from their youth. But a senior bank official said PERSON's lyrics reflect the bank's desire to change in DATE.
""Our view is a bank has to change because the times are changing. We thought the lyrics caught rather nicely the imperative for large institutions, like banks, that they face having to change,"" PERSON, senior vice-president of public affairs, said in a telephone interview.
Some callers to a TIME radio show in GPE were outraged at the ad campaign. ORG played the commercial and PERSON's version, then asked listeners for their reaction.
""I was appalled. The bank failed to understand the spirit of the song. It has so many associations for people our age. I hope they reconsider. They went over the line with this one,"" one female caller said.
Another listener said: ""PERSON, I can only say, shame on you.""
PERSON still owns the copyright to the song but was unavailable for comment.
Some younger callers said aging baby boomers have only themselves to blame.
""I don't know why you're surprised. You had high ideals when you grew up. Then you started making money and buying cars. And all the ideals are no longer convenient so you sold out. Every single one of you. PERSON is just doing what everyone is doing,"" a young listener said.
Another caller scoffed at the controversy: ""Baby boomers spare us the crocodile tears. A lot of people have sold out.""
CARDINAL listener found it ironic that in these tough economic times a bank would use a song that warned: ""You better start swimming or you'll sink like a stone.""
GPE's big banks, which are on track for DATE of record profits, have been criticized for high service fees and tight lending policies.",1
"GPE issued another strong signal DATE that its stock and bond markets have been given the green light for fast growth to provide the economy with more efficient means of investment.
A report in the official ORG was the latest in a series of indications that GPE's previous suspicion of the securities markets has been replaced by a determination to expand and strengthen them.
ORG quoted a report that said the stock and bond markets must be developed vigorously to provide a stronger foundation for national economic development.
The newspaper quoted a report from ORG, a think-tank, as saying the efficiency of investment channels was a key question affecting the long-term development of GPE's economy.
""The sluggish development of the direct investment markets is one of the factors affecting the long-term development of the national economy, so it is necessary to speed up the development of stocks, bonds and other direct investment markets,"" it said.
More direct investment would help to reduce the tangle of problems surrounding heavily indebted state enterprises and the state banks, which are currently forced to support the enterprises with a constant supply of loans, the report said.
""Banks are being squeezed from both sides, given the high risk (of loans to state enterprises) and the ever-growing deposits they are taking in,"" the paper said.
It said that it would be better for all parties if depositors put less cash into bank deposits and invested it directly in companies through the securities markets.
""Most of the money in the hands of ordinary people is currently put into bank accounts, which increases total bank deposits even as enterprises are short of money, resulting in capital being left idle and wasted,"" the report said.
The current small scale of the direct investment markets was a key reason for this imbalance, it said.
""So how to standardise, develop and strengthen the direct investment markets to allow for more reasonable usage of deposits is an important part of raising the efficiency of banks and making more efficient use of capital,"" it added.
The report gave no details on shifting the focus of enterprise investment from banks loans to securities, but GPE has implemented a number of measures recently aimed at expanding the securities markets.
A record number of companies have been given approval DATE to list shares on the country's CARDINAL stock markets in GPE and GPE.
The GPE market was strongly affected DATE by rumours, denied in GPE, that securities authorities were about to release the quotas for company listings for DATE.
But authorities DATE did announce a major relaxation of policy on mutual funds, which are seen as an important conduit for funnelling funds from ordinary people into the securities markets.
Regulations allowing existing mutual funds to list on the stock exchanges are due to be released before DATE, official media reports said.
In another development, a senior NORP official was quoted as saying DATE that GPE is preparing to tap overseas capital markets by listing shares of CARDINAL or CARDINAL of its chemical companies abroad.
ORG Industry Minister PERSON told ORG that CARDINAL or CARDINAL chemical companies were getting ready for share offerings abroad, though she did not name the companies or the exchanges.","Netcom On-Line Communication Services Inc has decided to shift its focus to higher-value business services in search of profits, leaving the consumer sector to others.
""We've been growing at dizzying rates, what we're saying is we're going to focus more on quality here -- quality of earnings, quality of service to subscribers,"" Netcom Chairman and Chief Executive PERSON said in an interview.
Despite the GPE, GPE company's blistering pace -- it has grown some sixfold in DATE -- the sharper focus will allow it to target annualized growth in the CARDINAL perent range and seek to attract customers to higher-value services.
Netcom executives said they will release further details of their new pricing plans in DATE, but levels will be above its current $MONEY access fee, which it is scrapping.
""We are discontinuing a line we don't think is a good deal for our customer or a good deal for our shareholders and we will replace it with other products we will announce in DATE. They will be at higher price points,"" PERSON said.  
The new services may be aimed at providing higher quality access, which PERSON noted was a source of customer concern throughout the industry, and may also include offerings which bundle software tools or online Web-hosting services.
Most consumer-oriented Internet access providers offer unlimited access to the global network for $MONEY a month -- a price that analysts say leaves little room to generate profits -- or to help offer differentiated products.
""There's so much attention around a service (at $MONEY) that's getting more and more marginalized,"" PERSON said, adding he will leave ORG and ORG to wage battle over consumers.
""PERCENT of our business is from people who say I want to use this as a productivity tool to help my business learn more, be faster, be more competitive,"" he said. ""I'm going to focus on that segment instead of the consumer.""
Netcom also said it expects to gain CARDINAL to CARDINAL new paying customers in DATE, bringing its total to CARDINAL, a slower pace of growth than in the past.  
Netcom On-Line Communication Services Inc earlier said it expects to report an unspecified profit in its current, DATE domestic earnings before deducting interest expense, taxes and depreciation (EBITDA).
The figure tops what Wall Street analysts had projected. Netcom Chief Financial Officer PERSON said the DATE results for the company as a whole, including overseas operations, was an ORG loss of MONEY, the majority of which was domestic.
Netcom has focussed on bringing its domestic business to profitability, while timing and extent of overseas investments make profitability of those regions hard to predict.
Wall Street consensus DATE estimates had been for EBITDA for the whole company of MONEY, or an ORG loss of MONEY a share, the company said.
""We have been told by analysts that they would expect that we would beat that, based on DATE's announcement,"" PERSON said. Analysts had previously expected EBITDA to turn positive in the ORDINAL or second quarter of 1997.
According to ORG, analysts' mean estimate for per share final results for DATE was $MONEY prior to DATE announcement, which came after the market close.  
ORG had said after reporting DATE results DATE that it saw ""a great opportunity"" to sell to its customer base by enticing them by higher levels of service.",0
"The GPE food industry, besieged by DATE of slow growth, wants to whip up new business from people who don't cook.
Armed with a new study that predicts consumer spending on ready-made foods will accelerate in DATE, food firms are reaching out to a generation that doesn't know the difference between baking powder and baking soda.  
""Consumers aren't looking anymore for a cake mix.  They want the slice of cake,"" said PERSON, executive director of ORG, which helped fund the study released DATE.
Industry executives DATE said they are developing fresh strategies to feed CARDINAL-to-24 year olds -- a generation that grew up with working mothers and microwave ovens.
""Cooking from scratch is diminishing: many consumers in DATE will never have cooked a meal from basic ingredients,"" said the study by consulting firm ORGamp; ORG titled ""WORK_OF_ART LOC Changing Appetite.""  
The study confirms trends that food manufacturers and food distributors already are seeing: harried consumers bypass the fresh meat and spice aisles of a supermarket in favor of sections selling barbecued chicken and ready-made salad.
The study projects the food industry will grow PERCENT per year to MONEY a year by DATE.  The foodservice sector is expected to capture nearly all of the anticipated incremental sales, pegged at MONEY.  
""There is going to be a whole new plethora of different foodservice opportunities,"" said PERSON, president and chief executive officer of  ORG, a GPE-based foodservice distribution company.
DATE's supermarkets are expected to have drive-up windows where consumers can buy ready-made meals.
Executives also envision stores that group food by meal categories so that shoppers can head right to the breakfast aisle instead of wandering throughout the store.  
The changes are expected to be especially challenging for food manufacturers, who may see shelf space for their products shrink as stores provide more ready-made products.
ORG already is experimenting with ways to ensure its products are not lost in the shuffle.  The maker of items such as GPE cookies and ORG mustard wants to leverage its brand popularity into ready-made meals.
""As a major food manufacturer, we ought to have our fair share of that growth,"" said PERSON, president of ORG's food service company.  
That may mean developing a ORG-based sandwich spread for supermarket sandwiches or working with a dessert manufacturer to sell individual slices of cheesecake that contain GPE cookies, ORG said.
And demand for those kinds of products is expected to grow as consumers spend less time preparing meals.  Industry experts estimate people now spend TIME preparing a meal versus TIME of preparation time DATE.
""The meal is not the social setting of the evening anymore. It's a nuisance,"" said PERSON, chairman and chief executive officer of food distributor ORG","A threatened proxy fight at ORG, coming at a time of widespread oil industry consolidation, may force the GPE-based energy company to restructure its diverse holdings.
Sources close to GPE said the company is considering strategic alternatives, although it has not yet determined whether major action is necessary.
Meanwhile, ORG, which has been involved in similar efforts at other firms, is expected to pressure GPE to enhance its value by breaking up its operations.  
Widely considered a regional oil refiner, GPE owns PERCENT of ORG, a substantial chemicals business and a highway construction unit. It makes ORG motor oils and owns ORG convenience stores.
Some industry analysts have said that GPE, which is trading at around $MONEY per share, would be worth MONEY per share if its businesses were separated.
Providence has formally told GPE that it has nominated a CARDINAL-man slate for election to the board at the DATE DATE shareholders' meeting. Shareholders will be asked to fill CARDINAL slots on the CARDINAL-member board.  
GPE spokesman PERSON said the company has hired ORG to advise it on the proxy issue. A source familiar with the situation said GPE also may discuss strategeic alternatives with investment firm ORGamp; PERSON, which has worked with GPE in the past.
Sources said GPE-based ORG is not seeking control of GPE, but instead wants to push a restructuring. Founded in DATE by a group of merger experts at ORGamp; Co, previous investments have included ORG, ORG and ORG Inc It also has invested in GPE.  
GPE DATE acknowledged GPE's interest, noting that it holds CARDINAL shares of GPE's CARDINAL outstanding common shares.
GPE has declined to comment further on GPE, noting that it is prohibited from discussing the issue until it files documents with ORG, a move that is expected by DATE.
Providence and PERSON also declined comment. Sources said both GPE and GPE recently have held meetings with institutional investors to discuss shareholder value.  
Industry experts think GPE is primed to participate in industrywide consolidation, especially as GPE veteran and Chief Executive PERSON moves into the role as chairman. He is replacing retiring longtime Chairman and former Chief Executive PERSON.
""Under his leadership, GPE could be restructured along individual lines of business. If done correctly, we think it could lead to an increase in shareholder value of PERCENT or more,"" ORGamp; Co analyst PERSON said in a report issued DATE.
The push for a restructuring comes as giant oil firms join forces to combat poor refining profits. ORG and ORG are mulling an alliance of GPE refining and marketing operations, while ORG and ORG have a similar venture in LOC.
And smaller refiners also are seeking partners. ORG has proposed a merger with ORG, PERSON is buying ORG LOC refining assets and just DATE refiner ORG said it was seeking an alliance for its natural gas services unit.",1
"GPE said on DATE it could produce more than enough grain to feed its growing population despite frequent natural disasters, rapid industrialisation, long-term droughts and a chronic lack of arable land.
In a draft ""white paper"" released to allay foreign fears that future NORP grain shortages could overwhelm world markets, agricultural officials said the nation could feed its people for DATE to come.
""Instead of forming a threat to the world's grain supply, GPE will make ever greater contributions to it,"" it said. ""The NORP government and people have the ability to solve the problem of grain supply by relying on their own efforts.""
Some Western analysts have said GPE's rapidly expanding economy is swelling the nation's appetite for grain for food and feedstuffs. That in turn could force GPE to make huge purchases on an international market already stressed by rising global demand.
The draft white paper, issued by ORG, dismissed such fears as a repeat of Western scepticism towards GPE's agriculture that greeted the nation's victorious communist revolutionaries in DATE.
""Some NORP predicted that the NORP government would not be able to solve the problem of feeding the country's population,"" the document said.
""History has already shown the futility of such a prediction,"" it said in CARDINAL of many proud references to GPE's achievements in feeding PERCENT of the world's population with PERCENT of its cultivated land.
GPE could raise output by protecting existing farmland, raising efficiency, improving irrigation, changing consumption patterns and reclaiming wasteland, it said.
By DATE, the NORP population was expected to reach CARDINAL, pushing total demand for grain to QUANTITY.
By the time the population peaked at CARDINAL people in DATE, total demand was expected to be QUANTITY, but GPE was confident output would be able to keep pace even in the face of diminishing returns from the land.
""GPE can achieve its desired total grain output target if the DATE average increase rate of per-unit area yield is PERCENT from DATE and PERCENT from DATE,"" the white paper said, adding much bigger increases were likely.
For DATE, GPE planned to reclaim QUANTITY (QUANTITY) of wasteland DATE to make up for land lost to industrialisation.
The proportion of inland and offshore waters used for aquaculture would be increased and the area of irrigated land would be raised to QUANTITY (QUANTITY) by DATE from QUANTITY (QUANTITY), it said.
PERCENT of GPE's grain, QUANTITY DATE, was lost annually between planting and consumption. Improved storage and shipping could help make savings of QUANTITY a year possible, it said.
GPE has long been eager to dismiss foreign fears that its demand for grain will spiral out of control, but GPE has so far failed to convince its most vocal doubters.
GPE did not have enough land to sustain its economic growth rate and would find it hard to boost grain output, PERSON of ORG said DATE.
But the white paper said GPE would turn to the international market only to make up for local shortages or natural disasters and to adjust the types of grain available.
""If GPE were to import a great deal of grain from other countries, the international grain market would be under severe pressure, and poorer countries would be unable to obtain enough supplies of cheap grain from it,"" the document said.","An obscure part of the new telecommunications law could restrict how phone companies use confidential customer data to peddle everything from calling plans and caller GPE to Internet access and credit cards.
The law pits consumer advocates who fear an onslaught of telemarketers and a loss of personal privacy against local, long-distance and cellular carriers wanting to offer their customers one-stop shopping in the new communications age.
The data, which include billing records and calling patterns, are taking on added importance as local and long-distance companies, cable-TV operators and others brace to get into each other's business under the new telecom law.
""Everybody wants to use these data -- subject to the law -- for their marketing efforts, given that it's a much more competitive environment now,"" said attorney PERSON of ORGamp; PERSON. ""There are new technologies and new markets for the companies.""
ORG is drafting rules to spell out the limits set by ORG on the use of ""customer proprietary network information."" CPNI details when calls are made, the destination, the frequency and length, the number and type of phone lines ordered, and the price of the bill.
Few curbs existed before the new telecom law. The new ORG rules -- which stem from a provision in the law pushed by Rep. PERSON, GPE, -- are expected in DATE.
The agency must decide what form of customer approval a carrier must receive before using the data for marketing.
The rules will determine, for example, what if any okay is needed for a carrier to use a customer's long-distance calling pattern to pitch a cellular service if a customer is seen to make plenty of calls from the road.
Many phone companies want the ORG to avoid stringent rules requiring detailed customer approval. Industry executives argue that consumers would benefit from flexibile rules that let companies target a customer's communications needs.
""It would give us the opportunity to tailor their package of services to what they need and what they want,"" said PERSON, ORG director of federal government affairs.
But consumer and privacy groups fear the data could fall into the wrong hands without tough curbs and clear approval.
They also fear an explosion in telemarketing: Companies could use CPNI to market a vast array of products and services unrelated to the phone service a customer actually receives.
""When consumers sign up for telehone service, they don't expect the information to be used to market non-phone services such as credit cards or investment information,"" said PERSON, general counsel for ORG (CPI), a consumer advocacy group.
Companies already use the information. Long-distance carriers pitch cheaper plans based on a customer's calling habits. The marketing is expected to heat up.
Under contention at the ORG is whether a company can use the data derived from its long-distance business to pitch local or cellular service, without prior customer assent.
The telecom law lets carriers use CPNI without prior approval when supplying the service a customer ordered.
The ORG has proposed to classify phone service under CARDINAL categories: local, long distance and cellular. CPNI from one could not be used to market another without a customer's okay.
A number of phone companies, including several regional ORG companies, have asked the ORG for just CARDINAL broad category that would give them greater marketing flexibility.
GPE phone regulators, by contrast, propose categories based on ""the exact services (the customer) has ordered.""
The ORG also has proposed requiring phone companies to notify customers of their right to restrict access to CPNI.
Under contention is whether the notification should be oral or written, such as a notice stuffed into a bill or posted in the ""white pages"" phone directory.
Consumer advocates, privacy groups and state regulators want advance written approval for use of the information.
Some companies -- AT&T, several of the ORG and ORG -- suggest that no response to a detailed notification about a customer's CPNI rights should amount to a customer's blessing.",0
"An international task force charged with resolving the simmering controversey over desirable Internet address names released a draft plan DATE to expand the total number of addresses substantially.
International Ad Hoc Committee on domain names, formed by ORG in DATE, said CARDINAL new ""top level domains"" should be added to the Internet.
Most Internet addresses end with CARDINAL of CARDINAL letter designations, including ""com"" for private sites, ""gov"" for government sites and ""edu"" for sites run by schools.  
Addresses for most designations, or top level domains, are given out by ORG of GPE, GPE, which charges $MONEY for each registration.
The committee also recommended that an unlimited number of firms be able to register the new addresses, although the committee said it hoped initially to authorize CARDINAL new registration services.
At first, ORG would continue to have a monopoly on the domain names it already controls but the committee said its ""ultimate goal"" is to have all names handled by all qualifed firms.  
""The ORG members were faced with a formidable challenge,"" PERSON, president the Internet Society and chair of the committee, said. ""We accomplished our goal, in no small part, because we were able to bring people together from around the world, via the Internet.""
The full text of the recommendations was posted on the Internet at http://www.iahc.org, Heath said. The proposal will be open for public comment until DATE and a final report is expected by DATE.
New names and competing registration services should help quell disputes over popular or trademarked names.  
Disputes are arising more frequently, usually when the holder of a trademark discovers that someone else is using their trademark as the name of an Internet site.
For example, ORG ORG music channel fought with CARDINAL of its employees, who had registered ""mtv.com,"" eventually regaining control of the name in an out-of-court settlement.
Once new top-level domain names are available, CARDINAL people could register similiar names.  The new top level domains will contain CARDINAL letters but have not yet been selected.  
The committee included members from the Internet Society, the Internet Assigned Number Authority, which oversees certain Internet standards, and ORG, which helps draft and promulgate new standards.
The committee also included representatives from ORG, EVENT and ORG.
((--202-898-8312))","ORG hold on the huge Busang gold deposit in GPE remained unclear DATE after a string of statements from the company defending its rights to the find.
GPE, GPE-based ORG issued CARDINAL news releases in TIME early on DATE about its grasp on GPE, worth MONEY at DATE's gold prices and CARDINAL of the world's biggest gold deposits.
PERSON said its exploration permits and applications for contracts of work on Busang remained in good standing.
""Obviously significant progress is being made on all fronts toward the development of the Busang deposit,"" ORG PERSON said in a statement issued from GPE.
ORG said its officials had met with PERSON, GPE's secretary general of ORG, to clarify its status with Busang.
The company said PERSON apologised for comments relating to the cancellation of permits and contract of work applications for Busang.
""The exploration permits and PRODUCT applications for PERSON and Busang III remain in good standing,"" ORG said. PERSON contains most of the gold found so far on the property.
But earlier on DATE, PERSON repeated his comments to ORG in GPE casting ORG status in doubt.
NORP mining officials told ORG in GPE that they had stopped processing PERSON applications for vital contracts of work on the gold find. Instead, PERSON and GPE-based ORG must jointly submit new applications for the permits.
""The government has stopped processing the previous application for contracts of work by ORG because of various problems,"" PERSON said. ""Therefore, the previous application by ORG that has been delayed must be stopped and must be said to have been cancelled.""
While mining officials were explaining their position in GPE, PERSON was issuing optimistic statements.
ORG said it appeared that the development of Busang was ""possibly open to negotiation"" and that draft documents showed it had exclusive operating rights to Busang.
The NORP government encouraged ORG in DATE to form a joint venture with ORG, with PERSON getting PERCENT of the joint venture, PERSON keeping PERCENT and the CARDINAL companies granting the NORP government a PERCENT stake.
But ORG said on DATE that ""the government of GPE appears to be seriously reconsidering its earlier decision that would have compelled PERSON into a partnership with ORG.""
PERSON cited a published report that suggested NORP President PERSON was ready to intervene in the process.
Bre-X and ORG said DATE they reached agreement on some points to form a joint venture for GPE, but outstanding issues remained and no overall agreement had been settled.
But ORG was still hopeful on DATE that the negotiations for Busang could be opened up to an auction process.
""We have believed from the outset that the best interests of the NORP people and their economy would best be served by a truly open negotiation process for the development of this extraordinary natural resource,"" PERSON said in a letter to GPE's Minister of Mines.
PERSON shares were still halted on ORG. The company requested a halt on DATE so it could clarify statements from GPE. The stock closed DATE at C$MONEY.",0
"After meeting for TIME, most bargainers for ORG and ORG union adjourned talks without a national contract deal DATE TIME as several more truck plants headed for strike-related shutdowns.
""Talks in several specific areas will continue TIME,"" said ORG spokesman PERSON. ""Full negotiations will resume DATE TIME as bargainers continue their efforts to reach a tentative agreement.""
He declined to identify the areas to be discussed DATE TIME.
Talks ""have snagged several times in DATE,"" said PERSON, a professor of labor relations at ORG. ""The pressure's been increased considerably by the CARDINAL plants that are out on strike.""
Indeed, plant-level union officials said the number of workers idled by local strikes in GPE and GPE, GPE, could reach CARDINAL by DATE.
ORG truck plants in GPE, GPE, and GPE, GPE, were expected to run out of fenders, hoods, and other sheet-metal parts from ORG's strikebound GPE stamping plant by TIME, officials at the plants said.
Flint employs CARDINAL workers and builds crew-cab and heavy-duty, full-size pickup trucks, while Moraine employs CARDINAL and builds ORG PRODUCT and ORG compact sport utility vehicles.
""B-crew will come in TIME and that'll be it,"" said PERSON, vice president of ORG in GPE. Although his union is not involved in the ORG talks, he supports the strikers in GPE and GPE, GPE
""A lot of their concerns are our concerns,"" he said.
Some states may determine that the laid-off workers won't be eligible for state unemployment benefits because they were idled by a strike.
The remainder of the CARDINAL ORG truck plants fed by GPE are expected to halt operations soon.
ORG's GPE, GPE, compact pickup truck plant is scheduled to shut down DATE, idling CARDINAL workers, and the GPE, GPE plant, which employs CARDINAL and builds both compact pickups and sport utility vehicles, will shut down DATE TIME.
ORG's GPE plant laid off CARDINAL of its CARDINAL workers as it halted production of ORG's popular full-size ORG and ORG pickup trucks DATE TIME. ORG's other full-size truck plants in GPE, GPE, GPE, GPE, and GPE, GPE, are expected to follow close behind.
The strikes on DATE by CARDINAL workers at GPE and CARDINAL workers in GPE, GPE, have formed a CARDINAL-pronged effort to squeeze ORG's highly profitable light truck operations, increasing pressure for national and local settlements.
The shutdown of the GPE plant alone could cost ORG MONEY a week in pre-tax profits, adding to pressure on the automaker for national and local contract settlements, said PERSON, an auto analyst with ORG.
Meanwhile, other ORG locals sought to join the GPE and GPE walkouts. ORG's GPE, GPE, electronics plant requested permission to send CARDINAL workers out on strike.
A walkout at that facility would be particularly damaging to ORG because it supplies all of the automaker's NORP assembly plants with engine electronics, audio systems and other parts.
The future of CARDINAL domestic parts plants that ORG considers uncompetitive remained a major sticking point in the negotiations. ORG wants to exclude several of the plants from union demands that it guarantee employment for PERCENT of ORG workers over DATE.
ORG and ORG have already granted such guarantees, but ORG, the least efficient of GPE's Big Three automakers, wants changes to the pattern to allow it to cut costs..
ORG's stock gained MONEY to close at $MONEY on ORG.","ORG said DATE that profits climbed PERCENT in DATE on stronger sales of its commercial jets and higher interest income.
The world's largest aircraft maker said net income for DATE climbed to MONEY, or MONEY a share, from MONEY, or MONEY a share, in DATE.
Sales soared to MONEY from MONEY in DATE as it delivered CARDINAL airliners, up from CARDINAL.
The results were in line with Wall Street expectations, but ORG stock fell MONEYMONEY on ORG, where blue-chip issues were dragged down by weakness in the bond market.
""It's DATE,"" said analyst PERSON of Cowen & Co. He and other analysts said they expected ORG to announce further production rate increases soon, particularly on its narrow-body PRODUCT and jumbo PRODUCT models.
ORG already has announced plans to raise overall production to CARDINAL airplanes a month by DATE from CARDINAL currently in response to rising orders from the airline industry.
As the airline industry has pulled out of a long tailspin and begun posting healthy profits, ORG has been scrambling to meet demand, boosting its work force by PERCENT DATE after DATE of deep layoffs.
ORG Chief Executive Officer PERSON said in a statement that ""airline-announced order activity continues to be encouraging.""
As of DATE the company had orders for CARDINAL planes worth MONEY, compared with CARDINAL planes worth MONEY ordered in all of DATE.
""Based on current trends and barring unexpected disruptions, ORG should be positioned for DATE of sharply increasing earnings,"" said analyst PERSON of ORG.
Boeing revenues are expected to rise to MONEY DATE from MONEY DATE and should hit MONEY DATE, CARDINAL analyst said.
On average, analysts see earnings of $MONEY a share DATE compared with $MONEY DATE, excluding CARDINAL-time items, according to ORG, which tracks estimates.
Analysts see earnings rising to $MONEY a share DATE and $MONEY in DATE, ORG said.
ORG said its sales increase for DATE was slightly offset by higher costs from developing new versions of its PRODUCT airliner and by a higher effective income tax rate.
For DATE, net income soared to MONEY, or $MONEY a share, from MONEY, or MONEY a share, in the DATE period, when the company took a MONEY charge for an early retirement programme.
Sales grew to MONEY from MONEY, though ORG delivered CARDINAL airplanes, down from CARDINAL DATE.",0
"ORG top executives host computer industry analysts DATE, hoping to impart a view of a brighter future and re-ignite interest in the company's downtrodden stock on Wall Street.
Analysts expect the GPE, DATE computer maker, which DATE reported a big DATE loss and restructuring charge, to focus on its long-term direction and goal of reaching operating margins of PERCENT of revenues.
""They are going to talk about their vision of the future,"" said PERSON, a ORG analyst.
He said ORG will likely focus on its growth areas, such as servers designed on its fast GPE chip that run ORG EVENT software, prospects for its computer services business, growth in semiconductors and its plans to spin off part of its ORG unit.
But after ORG's most recent loss, Wall Street will likely also be looking for any forecast for DATE, in which some analysts project a loss.
In DATE, ORG reported a loss of MONEY, or $MONEY a share, after taking a MONEY restructuring charge for job cuts and plant closings.
ORG analyst PERSON recently wrote in a report that DATE is off to a slow start.
""Management indicated DATE is off to a slow start, likely due to short-term disruption from sales force changes,"" PERSON said. ""A loss appears increasingly likely.""
According to ORG, which monitors Wall Street earnings estimates, the consensus estimate for ORG's DATE is a loss of MONEY a share.
Many analysts expect the tone of the meeting to be positive, as ORG executives highlight the company's strengths and growth opportunities. But they are also hoping for some hints at ORG's fix-it plans for its PC business.
""The story for the GPE server business, the networking business, the storage business and the semiconductor division is quite encouraging,"" PERSON of ORG said in a report to clients. ""But PCs are a big overhang currently.""
In DATE, ORG's PC business lost more money than it had previously expected, estimated around MONEY, and analysts said speculation is ""rampant"" that ORG is looking for a manufacturing partner to help shave costs in PCs.
But ORG is not expected to make any announcements on the unit, other to confirm that it is seeking a manufacturing partner.
""They will talk about how they are going to change the sourcing of their PCs,"" WORK_OF_ART said. ""They will talk about the fact that they are doing it, but they won't be able to announce what they are doing. They haven't dotted the I's and crossed the T's.""
Analysts said CARDINAL of ORG's biggest opportunities for improving gross margins is in services, which had margins of PERCENT of revenues in DATE. Services is also a growth engine for ORG..
They will also be eager for details on ORG's plans to spin off PERCENT of its ORG software unit.
PERSON is ORG's popular and powerful search engine for finding entries on the Internet's vast WORK_OF_ART Web.
ORG plans to retain PERCENT of the unit, which will also develop other kinds of Internet software, aiming to capitalize on the ORG brand name.
Analysts said the motive behind spinning off part of ORG is likely that its shares may do better if they trade separately from ORG, which has seen its stock drop from a high of CARDINAL in DATE to CARDINAL on DATE.","ORG stunning agreement to acquire longtime rival ORG won a ringing endorsement from Wall Street and sent shock waves through the aerospace industry DATE.
Stock in both companies soared on expectations the deal would boost ORG's operating profits immediately after its completion, targeted for DATE.
ORG rose $MONEY to $MONEY and ORG jumped MONEYMONEY, down from earlier highs on ORG but good enough to give the all-stock transaction an indicated value of MONEY.
Industry analysts saw few obstacles to the deal, which marks a startling transformation for a company that DATE was completing a final round of cutbacks that had slashed its work force by PERCENT in DATE.
Since then ORG has completed the MONEY acquisition of ORG  ROK.N defence and space business, won the right to compete for the richest military contract in ORG history and announced orders for MONEY in new commercial jets.
""It's an incredible turnaround story,"" said PERSON, president of ORG, which specialises in aerospace. ""These are very bold, dramatic, uncharacteristic moves for ORG and I applaud them for it.""
While ORG had been moving to cut costs and transform its management style under outgoing Chairman PERSON, the pace has accelerated at the once-sluggish company since PERSON was named chief executive officer in DATE.
Condit began the final round of merger negotiations with ORG DATE, DATE after being formally elected ORG chairman as of DATE.
""We're seeing ORG evolve from kind of a stodgy company to being very aggressive, nimble,"" said PERSON, a longtime ORG analyst at ORG who praised ORG's energy and stamina.
Executives at the CARDINAL companies said the deal would be additive to operating profits immediately and reiterated their prediction that ORG could achieve MONEY in DATE savings without any layoffs because of rapid growth.
Analysts said the merger was a good strategy for ORG, which already had announced plans to pull back from commercial aviation when it was eliminated from bidding for the ORG's DATE joint strike fighter.
But PERSON, chief executive of ORG, denied that the merger was born of desperation.
""This is the deal we wanted and we are very happy with it,"" Stonecipher told ORG. ""This is the only deal we considered.""
ORG executives told analysts they had no immediate plans to make further acquisitions, even though the combined company will generate cash flow of MONEY a year on projected DATE revenue of MONEY.
The surprise merger immediately turned up the heat on LOC's ORG to move ahead quickly with a restructuring plan. Without such a plan, the consortium would be unable to go ahead with a proposed super-jumbo aircraft to compete with ORG's PRODUCT, which now is unchallenged at the profitable top end of the market, analysts said.
""ORG and its partners must agree as soon as possible on an optimal structure that will allow ORG to match its NORP competitors as a powerful, integrated NORP enterprise,"" ORG Minister PERSON said in a statement.
Analysts noted that ORG had ended any chance that ORG would partner with ORG on a new large jet, and some said ORG's own plans to stretch the PRODUCT might now be deferred.
But both ORG and ORG could benefit from stabilised airplane prices with the No. CARDINAL player out of the market.
Despite some overlapping businesses, including helicopters, rockets and missiles, experts saw little possibility the deal would be stopped by ORG, although the combination of the nation's only manufacturers of commercial jets could give pause to federal antitrust regulators.
""It will be interesting to see what the airlines have to say about this,"" said PERSON, a former antitrust official now with the firm PERSON and PERSON in GPE.
""It's worth remembering that there would be just CARDINAL players in the worldwide market for big planes,"" he said. ""But maybe CARDINAL is enough competition for the airlines.""
On the defence side, analysts said they expected the marriage of ORG and ORG to spur further consolidation, with players such as ORG and ORG looking for partners.
Cowen & Co. analyst PERSON said the deal gives ORG, which supplies missile systems, ""a window of opportunity"" to buy ORG..
""It's not a long-term window,"" he said. ""It will probably last until the (ORG) deal is closed.""",0
"The NORP ORG consortium must resolve deep differences over the future shape of the aircraft-maker to meet the challenge posed by the merger of its GPE rivals, industry executives said on DATE.
ORG and ORG shook the aerospace world on DATE by announcing they were joining to create a company with DATE sales of MONEY.
The strengthening of ORG, which already outpaces ORG in sales of civilian aircraft, puts further pressure on the CARDINAL-nation ORG consortium to agree a status change that might sharpen its commercial muscle.
But the CARDINAL member companies from GPE, GPE, GPE and GPE are stuck over differing ambitions for changing their present partnership into an integrated company that could rival the new GPE titan.
PERSON has held PERCENT of the world civilian aircraft market, ORG PERCENT and ORG PERCENT.
ORG, which had set a target of PERCENT by DATE, is a partnership made up of NORP state-owned ORG, ORG, ORG, a unit of ORG and ORG (ORG) of GPE.
The partners said on DATE they aimed to reach an agreement by DATE on the timetable for setting up a new ORG company, which could be formed by DATE. But an industry source in GPE said a pact looked likely to slip into DATE.
""The discussions go on. The partners are still working on negotiations for the ORG restructuring,"" said an ORG spokesman, speaking from its headquarters in GPE, southwestern GPE.
""I think this will clearly introduce a massive sense of urgency,"" aerospace analyst PERSON, at broker ORG told ORG (RFTV).
A senior executive said the partners have CARDINAL different positions on the future ORG. ORG wants a ""minimal"" ORG, ORG seeks a ""maximum"", while BAe wants a transfer of ""core assets"" from the partners to the new company, he said.
PERSON's chairman PERSON said in DATE he wanted ORG to act as a prime contractor with enlarged powers to direct subcontractors. PERSON does not think ORG can take on more than its current marketing operations.
""You cannot go from CARDINAL thing to the next overnight. Marketing is a business in its own right. Managing factories, manufacturing, people is something else,"" a NORP industry executive said.
That pits the NORP firm against ORG which wants to deepen ORG' integration to include the design and engineering of sub-assemblies as well as making the major systems such as wings and fuselages. The ""maximum ORG"" would also handle procurement, final assembly and product support.
BAe would like to transfer design and manufacturing facilities and provide ORG with a strong balance sheet to finance aircraft sales.
But ORG would stand to lose its industrial and intellectual crown jewels if it transferred its design office and manufacturing plant in GPE to ORG.
Aerospatiale gains PERCENT of DATE sales from the civilian sector, more than BAe and PERSON which have military and motor vehicle sales respectively to boost their revenue streams.
Although ORG would receive ORG dividends, it would lose key operations --  galling for a company which set up ORG jointly with the NORP. It is joint senior partner with ORG with PERCENT ownership.
Stripping out ORG would leave PERSON with missiles and satellites, both of which are being eyed by the acquisitive Lagardere Groupe, and helicopters -- a business under severe pressure.
Apart from the status change, ORG also needs to develop a fuller product range.
""We have to enlarge the product line at the upper and lower end,"" a ORG spokesman told LOC. ORG is studying a large plane seating CARDINAL, dubbed the LOC, and is planning a CARDINAL-seater with GPE and GPE.
BAe chairman PERSON told ORG on DATE that while the LOC large aircraft was important, it needed to be a sound business decision.
""I recognise that to be successful and compete with ORG, we in ORG need as wide a product mix as possible but not at any price, not at the cost of busting the business,"" he said.
BAe owns PERCENT of ORG, while GPE owns PERCENT.","ORG joined other GPE automakers DATE in their accelerating race to exit the battered car rental business.
ORG said it may sell its interests in ORG a Car, the nation's ORDINAL-largest rental car agency.
If a sale goes through, as analysts widely expect, ORG would be the ORDINAL major agency to change hands since DATE.
""The reason is they're not making any money,"" said ORG automotive consultant PERSON in GPE. ""Travel is hot, but the car rental business is going nowhere.""  
That is not evident from the sudden interest shown in the MONEY a year business by a new class of investors who are buying up the agencies as the automakers unload them.
""They see opportunity for profits. The industry is in a mild recovery and it's probably a better time to own a rental car agency than it has been for a long time,"" said PERSON, editor of ORG, a trade journal in GPE.
ORG declined to comment specifically on a published report that it may sell ORG, a GPE-based ORG licensee, for MONEY.
A ORG spokesman also declined comment.  
""No agreements have been reached among any parties,"" said ORG spokeswoman PERSON, declining further comment. She said ORG does not own PERSON, Ill.-based ORG outright, but controls the company through an option to purchase its common shares.
ORG said DATE it would exercise its option and buy out ORG's common shares, but analysts said the deal looks shaky now after delays resulting from a ORG antitrust review.  
As a result, ORG auto analyst PERSON in GPE said he expects ORG to sell ORG soon, likely to ORG. ""I think that one's pretty far along,"" he said.
""The real issue is that ORG is the small rental property of ORG. And if ORG is for sale, then so is ORG in the long run,"" WORK_OF_ART said.
ORG began investing in ORG in DATE at a time when GPE automakers were buying up rental car agencies hoping to load up their fleets with the CARDINAL of new cars that consumers were leaving on the lots.  
The strategy worked for a while, but then backfired when agency sales of barely used rental vehicles started eating into new car sales. GPE began encouraging the agencies to hold onto fleet cars longer, which restricted how many new cars the agencies could take on.
ORG bought all of ORG in DATE and, unlike many rental car agencies, ORG is probably profitable, analysts said.
But ORG said, ""There is no big advantage to the automakers to owning these agencies anymore ... Probably along the way, ORG will sell ORG. Generally, when these companies begin to divest operations, they get rid of them all.""  
Reassured by a back-to-basics management trend running through GPE industry, automakers started selling off rental car agencies in DATE with ORG sale of ORG.
ORG in DATE sold ORG to private investors, who DATE resold ORG ORG
Seeking to lock in supply for its fledgling ORG used-car chain, GPE-based Republic in DATE agreed to buy Alamo Rent-A-Car Inc.
In DATE, ORG sold off its PERCENT interest in ORG to ORG, a real estate and hotel concern based in GPE.
ORG still owns Dollar Rent-A-Car and Thrifty Rent-A-Car. ""Our status DATE is that Dollar and Thrifty are very much a part of our everyday business. It's business as usual,"" said ORG spokeswoman PERSON.
She added, ""It is ORG's goal, however, to focus on our core automotive business.""
Based on GPE vehicle fleet size, ORG ranks privately held Enterprise Rent-A-Car, of GPE, as the largest GPE rental car agency, followed in order by ORG, GPE, National, Alamo, Budget, Dollar and Thrifty.
Together, Enterprise, ORG and NORP own CARDINAL of the GPE rental car fleet of CARDINAL vehicles, according to the trade journal.",0
"ORG said DATE it signed a memorandum of understanding to sell CARDINAL parts plants to a new company that plans to be major auto industry supplier with MONEY in DATE sales.
The new company, ORG, was formed by the GPE investment firm ORGamp; PERSON and auto industry executive PERSON. No terms were announced for the deal, which had been expected for DATE.
""Peregrine will be CARDINAL of LOC premier automotive supply companies,"" ORG said in a statement. ""We expect to see signficant growth in DATE.""
Gulda is a former chief executive officer of ORG, a brake systems maker that is part of ORG.
The new company, to be based in GPE, GPE, will pursue business with all car and truck manufacturers in LOC and internationally, he said.
Peregrine said that, following a final agreement expected by DATE, it will sign a supply agreement with ORG to address ""current and future business.""
The CARDINAL plants produce a variety of interior parts, including hinges, door panels and instrument panels, and generate combined revenue of MONEY a year. TIME and salaried workers at the plants total CARDINAL.
CARDINAL of the plants, in GPE, GPE, are part of ORG's ORGamp; ORG unit. The other CARDINAL, a fabrication plant in GPE, GPE, and a trim plant in GPE, report to both ORG and ORG of GPE.
The GPE plants had been on a list of CARDINAL ORG operations ORG had identified as being troubled facilities.
Sale of the NORP plants became an issue in the DATE strike by members of ORG union. In the end, ORG won the right to sell the CARDINAL plants.
Workers not kept on by the new owner will be offered jobs at other ORG facilities.
Peregrine said in a statement that TIME workers at the CARDINAL plants who are retained will be covered by the DATE master contracts with ORG and ORG unions.
Wages, pensions and benefits for salaried and TIME workers will be about the same as they had been under ORG, it said.
Peregrine will be financed with equity from ORGamp; ORG, a private partnership formed to make investments in consolidating industries and corporate divestitures.
Peregrine said it does not expect to incur debt other than for working capital needs.","ORG said DATE it has filed an appeal protesting a ORG (ORG) ban on shipping new vehicles to dealers in the state for allegely violating the state's ""lemon law.""
The move, which had been expected, means the GPE No. CARDINAL automaker can delay any effect of the DATE ban for DATE as it pursues an appeal through the legal system.
The ban, issued DATE, came after the ORG determined ORG resold CARDINAL vehicles in DATE and DATE without properly disclosing their so-called lemon status to the new owners.
Under GPE's lemon law, an automaker must buy back a car from a ORDINAL owner if the vehicle spends DATE in a repair shop during DATE of ownership or if a specific problem has not been fixed after CARDINAL attempts.
Once the cars are repaired, automakers must notify used car customers that the vehicles were repurchased under the lemon law because of chronic problems.
In its appeal to GPE's ORG, ORG called the ORG's actions a ""ORG penalty."" The company argued that it complied with the lemon law as it was written at the time of the vehicle sales.
ORG said the statute in effect at the time was vague about which vehicles repurchased by manufacturers had to be branded as lemons.
Specifically, it said the law did not address disclosures relating to the resale of other vehicles bought back by automakers, such as those repurchased after informal dispute resolutions, or as part of a legal settlement.
ORG said it made good-faith efforts to keep used-car buyers informed about the vehicles they were purchasing. The company also complained about the economic ramifications of the penalty on its CARDINAL GPE dealers.
""The economic harm to the dealers and their employees caused by this action has been well documented but ignored by the ORG,"" the company said in its appeal.
ORG, which was set up to render an impartial view on regulatory actions, can reverse or amend the ORG's decision.
ORG sold CARDINAL new cars and trucks in GPE in DATE, representing PERCENT of its DATE volume, according to ORGamp; Co.
The ORG ban, which would have taken effect DATE, was hailed by consumer advocates as the ORDINAL tough stance aimed at ending the process of so-called ""lemon laundering.""",1
"The NORP government on DATE referred a proposed merger of key cross-Channel ferry services provided by GPE's P&O and GPE's Stena Line to its main competition watchdog for investigation.
PERSON, president of ORG, said he had asked ORG (MMC) to study competition effects of the deal -- hatched to help the ferry giants counter the impact on the market of ORG ORG.
Most Eurotunnel services, including its own passenger and freight shuttles and intercity rail trains run by ORG, were suspended following a serious fire DATE.
Although the government gave no explanation of its motives for the review, both P&O and share analysts said it seemed to be partly motivated by ORG's suspension of services.
P&O immediately slammed the move, calling it ""totally unnecessary"". Its shares dipped on the news, and were down MONEY at MONEY by CARDINAL ORG.
P&O chairman Lord ORG said the CARDINAL ferry companies' plans had now been ""kicked into touch for DATE,"" as the MMC has been given until DATE to review the deal.
The CARDINAL old shipping rivals unveiled plans in DATE to join forces on CARDINAL routes across ORG, in response to the swift progress made by the tunnel in grabbing a PERCENT market share on the route DATE after opening.
The tunnel opted for an aggressive pricing policy as it built up its market presence, cutting deep into the ferry lines' profits as firms led by P&O ORG and PERSON responded with parallel price-cuts and expensive extra ships.
The ferry duo's planned merger was designed to rationalise their capacity on the key short-sea section where the GPE is at its narrowest, crossing times are short and competition for CARDINAL of passengers and freight units a year is most fierce.
The ferry giants said the link-up would allow them to slash MONEY (MONEY) off a combined fixed cost base of MONEY, as well as building up cash generation.
P&O's ORG argued on DATE that ORG's fire had done nothing to change the economic arguments for a ferry link-up to remove excess capacity.
""Although the tunnel is temporarily out of action due to the unfortunate fire, I cannot see how the MMC reference will change the underlying situation,"" the statement quoted him as saying.
With ORG taking PERCENT of the market, P&O added, ""it is difficult to see that there is any competition concern that requires investigation.""
PERSON, analyst at ORG in GPE, said the referral decision was slightly unexpected and disappointing for the market.
""They were effectively given the green light in DATE by the government when the injunction on a merger was removed, and the government saw the impact on business after ORG opened. We thought there would be no problem,"" he said.
In GPE, Stena Line's shares dipped CARDINAL crowns to CARDINAL after the news.
($MONEY Pound)","The GPE government said it is focusing on negotiating new overflight arrangements with several countries in time for the DATE handover to GPE.
Up to now, GPE has come under GPE's traffic rights umbrella. Now it must negotiate its own agreements so airlines can continue to fly over countries on key air routes, the government said.
A spokesman said the countries involved are located on routes from GPE to LOC and to LOC, which are not signatories to ORG with.
He declined to name them or say which negotiations were the most important as overflight fees will also be discussed and more pressure could be brought to bear on GPE negotiators.
Industry observers said the government is up against the clock to sign the new agreements before DATE handover.
""Some countries will be no problem, others may be sticklers,"" said a source close to the negotiating procedure.
Any proposed deal must be approved by ORG, the NORP body set up to oversee the transition to NORP rule. The text of a model overflight agreement to be used as the basis for the negotiations was cleared by the ORG in DATE.
PERSON, who will be GPE chief negotiator, told ORG that the negotiations will start as soon as possible with airlines fully involved. He said the agreements which are a form of international treaty will give greater certainty of routes.
""On flights to LOC, for example, given weather and the sometimes unstable political situation in some countries, the airlines need to have access to alternative routes. We need overflight agreements with a number of countries in order to offer several route options,"" he said.
He said overflight rights are now a priority following the successful completion of GPE final ORG (ORG) with the GPE DATE.
""The number CARDINAL task was to negotiate full ASAs to separate GPE air services from those previously provided for under the GPE ASAs. This we have completed with the initialling of the GPE agreement. We can now turn to focus on negotiating overflights,"" PERSON said.
When asked about overflight costs and whether airlines faced an increase PERSON said: ""We would hope to continue the present arrangements, obtained under the GPE umbrella."" -- PRODUCT Tel+44 171 542 8982 Fax +44 171 542 5017",0