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"NORP food producer ORG posted virtually flat profits on DATE, held back by the collapse of world prices for its dairy products.
""The dairy business continues to be affected by the decline of commodity markets compared with a period of exceptionally high prices DATE,"" said chairman Sir PERSON.
Profits rose PERCENT before tax and exceptional items to MONEY (MONEY) for DATE. ORG shares rose CARDINAL-1/2p to 198p.
""There is no immediate prospect of commodity prices improving in DATE. We are also very driven by the strength of sterling against other currencies,"" PERSON, head of LOC's prepared foods division said in an interview.
At a news conference Haskins repeated his plea for GPE to join a single NORP currency which would remove CARDINAL swing factor in its profits. ""If there is one company that thinks EMU is a good idea it is us.""
Prices on the world commodity markets for butter, skimmed milk and bulk cream were off PERCENT on DATE levels. Weakening world demand for dairy products and the rise in sterling against the other major NORP currencies was not offset by a reduction in LOC's cost of milk.
Eden Vale Food Ingredients, which sells milk products on world commodity markets was the hardest hit of LOC's divisions. The company estimated the collapse in commodity prices cost it QUANTITY.
Its dairy business posted operating profits of MONEY, down PERCENT, reflecting a sharp deterioration in dairy commodity prices.
Competition in supplying milk to supermarkets remained intense but the recent erosion in prices should stop soon, said PERSON. ""The profitability of that sector is now such that people are losing money and we expect the price erosion to stop,"" he said.
Northern now supplies PERCENT of all milk in supermarkets, having lost CARDINAL percentage points of market share in DATE. Most NORP consumers get their milk from supermarkets where it costs DATE less than a pint delivered to the doorstep.
On DATE rival ORG said its sales of milk to supermarkets fell PERCENT in DATE, while dairy profits fell CARDINAL stg to CARDINAL due to lower prices for butter and milk powders, which GPE estimated cost it CARDINAL in the period.
Profits from Northern's prepared foods division were up PERCENT at CARDINAL, driven hardest by the grocery sector which benefitted from DATE contribution from ORG which sells the ORG pizza brand.
But consumers' concern over a link between mad-cow disease and a similar brain wasting disease in humans hit sales of convenience foods and meat pies. Northern estimated the beef crisis cost it QUANTITY in DATE.
""We have seen a significant swing in our products offered to M&S (ORG and PERSON). CARDINAL of our CARDINAL new lines will have no beef in them,"" Haskins said.
He said total consumption of beef was off PERCENT since fears ORDINAL surfaced over the spread of mad-cow disease.
""We have seen no material recovery in consumer demand for beef, we would be glad if it stabilised,"" said Haskins.
($1=.5950 Pound)","ORG is discontinuing some unspecified research and development projects as part of a wider effort to cut costs, PERSON, the company's chairman and chief executive, said on DATE.
Gerstner, speaking on a panel of top ORG executives at a ORG technology symposium, said ORG would cut projects for products and services it thought customers would not  want. The move is part of a reallocation of the company's MONEY research budget for DATE, he said.  
""Are the dogs eating the dog food,"" PERSON asked. ""Is the customer liking this stuff?""
Previously, he said, ORG cut overhead expenses from its research projects. He said that on DATE he sat down with several top ORG executives and painstakingly reviewed the company's entire research and development program.
""We have been able to cut overhead,"" PERSON said. ""A lot of what has been done in the past was cutting duplication....We are now at the point where we are cutting projects.""  
Gerstner took over ORG in DATE and quickly embarked on a massive cost-cutting program.
""We spend MONEY in research. That just happens to be equal to ORG's revenues,"" PERSON said.
He said the company had moved PERCENT of the R&D budget to its networked computing research.
In DATE, ORG spent a total of MONEY on research.
PERSON declined to be more specific about what projects ORG decided to halt. But he stressed that ORG was discontinuing ""projects"" -- not products that ORG's customers depend on. ""I don't want to start any rumors here,"" he said.  
Analysts said PERSON was likely trying to prevent any possible misinterpretation of his comments and stop any speculation that ORG was cutting research on products already on the market, such as its much-maligned OS/2 Warp operating system.
""Some industry solutions will go away,"" said PERSON, a ORG analyst, referring to projects aimed at specific industries, such as travel. He declined to speculate any further on what projects ORG was cutting.
""We used to develop solutions country by country,"" said PERSON, an ORG senior vice president, who was on the PERSON conference panel.  
When asked why ORG remained in the unprofitable home PC business, executives said the potential of the MONEY market -- which may grow to MONEY by DATE -- was too rich to ignore. A ORDINAL reason is that ORG is able to leverage its development and manufacturing of corporate PCs, they said.
""We are not doing this just so we can put a box in the home,"" said PERSON, a senior ORG vice president in charge of the PC business. ""I hope that we will (eventually) have a server in every home.""  
""We can make a profit,"" PERSON added.
Industry analysts have said the home PC business is the least profitable segment of the market. Indeed, many companies are losing money, they say.",0
"Work will start on DATE on ORG new HK$1.6 CARDINAL headquarters at PERSON, the main contractor, ORG et Travaux Publics (HK) Ltd, said in a statement.
The subsidiary of the NORP, ORG said the work includes a CARDINAL-storey office building, a CARDINAL room staff complex, a CARDINAL-storey workshop and stores building and a CARDINAL storey leisure centre with a total floor area of QUANTITY.
The new building is scheduled to be completed in stages from DATE with an overall construction period of DATE, the statement added.
The new airport at PERSON is due to open in DATE.
ORG said it is also building the new base maintenance facility for ORG (HAECO) and ORG new flight kitchen at the Chek Lap Kok.
-- PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017","ORG, fresh from its split from ORG, has admitted that its former parent group did receive a takeover approach prior to the demerger but rejected it because the price was too low.
ORG's chief executive PERSON told ORG in an interview DATE: ""A phone call was made to Grosvenor Place (ORG's headquarters) but they were talking silly prices."" He confirmed that the interested party was a tobacco firm, but refused to comment on recent speculation that ORG was a potential buyer.",0
"GPE will accelerate listings of new firms on its CARDINAL stock markets DATE to meet demand and curb speculation, a senior securities official said.
His remarks, published on DATE, came DATE after an official statement warned investors away from excessive speculation, triggering a steep sell-off on the GPE and southern GPE stock exchanges.
However, an official of the top securities watchdog, ORG, sounded another note of caution, saying that the markets needed even tighter regulation because of insider trading, excessive speculation and trading on margin.
""It will remain at the top of our work agenda for DATE of time to further supervise the stock market, and curb over-speculation and irregularities ... to better protect the interests of the smaller investors,"" ORG quoted the unidentified official as saying.
Since ORG editorial DATE, GPE's domestic A share index has tumbled PERCENT, standing at CARDINAL points DATE compared with CARDINAL at the close DATE.
The foreign currency B index fell PERCENT to CARDINAL points from CARDINAL points DATE after a roller-coaster DATE of trading.
GPE would move more swiftly to list additional firms on the markets, in line with the recent market upswings, ORG quoted PERSON, a deputy director of the ORG and ORG of ORG, as saying.
""This is part of the nation's effort to balance supply and demand in the stock market and curb excessive speculation,"" Zhang said.
DATE GPE announced a share quota of MONEY (MONEY) for DATE and to be carried over into DATE, almost double the MONEY approved for DATE.
Analysts said one aim of the decision to flood the fledgling stock markets with new issues was to soak up excess funds that have fuelled a flurry of speculation in DATE.
At its height DATE, GPE's domestic A share index had surged PERCENT and its GPE counterpart PERCENT since DATE, when GPE announced that it supported development of the stock markets.
In a sign of soaring interest in securities, official figures show CARDINAL NORP have now opened trading accounts, up from CARDINAL at DATE and rocketing from CARDINAL in DATE, ORG said.
The rapidly growing number of stock investors had caused the market to overheat on a shortage of supply, resulting in runaway price rises and excessive speculation, ORG said.
""The current market size allows some institutional investors to manipulate the stock prices and drive them up to ridiculous highs,"" it quoted PERSON, a financial expert at prestigious ORG, as saying.
""An accelerated expansion of the NORP stock market will boost the capital market and help pool more funds for capital-strapped enterprises,"" he said.
Speculation could be curbed only if the market was big enough to handle demand, he added.
GPE, which says its stock exchanges and futures markets are experiments, was committed to the markets, ORG said.
Current market capitalisation of MONEY, almost triple the DATE figure, accounts for PERCENT of GPE's gross domestic product, compared with PERCENT at DATE, ORG added. ($MONEY = MONEY)","The GPE government's top NORP official, PERSON, left GPE on DATE, wrapping up a low-profile visit after talks that focused on human rights in GPE and problems on the NORP peninsula.
Diplomats described the meetings as frank and cordial overall, even though Lord raised the thorny issue of GPE's treatment of its dissidents amid signs of a renewed crackdown by GPE's communist rulers on their critics.
Lord, Assistant Secretary of ORG for NORP and Pacific Affairs, arrived on DATE for the previously unannounced visit and kept a low-profile while in GPE, a GPE embassy official said. He left for GPE on DATE.
Lord held substantive discussions with Deputy Foreign Minister PERSON on DATE and also had a brief meeting with Foreign Minister PERSON, diplomats said.
""They discussed a wide range of issues,"" CARDINAL Western diplomat said.
The issue of GPE was CARDINAL focus of the talks and although diplomats said there was little sign of concrete progress, the tone of discussion was positive.
""Both sides want to maintain stability on the peninsula,"" CARDINAL diplomat said.
GPE and GPE in DATE called for CARDINAL-nation peace talks with GPE 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.
Frosty relations between GPE and GPE have been in crisis since DATE, when CARDINAL NORP landed in the LOC from a stranded submarine.
Diplomats said Lord's talks did not focus on any single issue, and a major aim of his trip was to prepare for a visit DATE by Secretary of ORG PERSON.
""Generally speaking relations are on the upturn,"" said CARDINAL diplomat. PERSON is due to visit GPE on DATE on a trip originally announced in DATE.
A row over human rights scarred PERSON's last visit to GPE in DATE.
The visit would mark the highest point in relations since ties plunged after GPE President PERSON paid a private visit to GPE in DATE, a trip that enraged GPE.
In GPE, ORG spokesman PERSON said Lord had raised NORP treatment of dissidents.
""Human rights have been on our agenda quite importantly over DATE, because of recent arrests of some of the political dissidents, and the recent travel to GPE of a noted champion of human rights. So, that issue for us is front and centre on our agenda with them.""
GPE DATE sharply criticised the sentencing of dissident PERSON to DATE in a labour camp, as well as apparent plans to try another pro-democracy activist, PERSON, on the capital charge of plotting to subvert the government.
Diplomats in GPE said GPE would almost certainly be angered by the arrival of a ORDINAL dissident, PERSON, in GPE DATE after escaping from GPE.
Both sides have said they were moving toward a possible exchange of presidential visits during DATE.
Among outstanding issues that could spark GPE anger are GPE's alleged nuclear sales and human rights record while GPE blames GPE for holding up its application for membership in ORG.",1
"DATE before its historic handover to GPE, GPE has adopted a charismatic shipping tycoon as helmsman to lead it into DATE.
But the NORP colony of CARDINAL people is waiting to see if chief executive-designate PERSON can form a ""dream team"" with the territory's most popular public figure, ""iron lady"" PERSON, head of the present colonial ORG.
The former tycoon, who resigned from his shipping empire to become GPE ORDINAL post-colonial leader, takes over from NORP Governor PERSON at DATE, when DATE of colonial rule comes to an end.
""If Tung can keep PERSON in her job, we will have a dream team leadership that both GPE and the GPE community will be happy with,"" a senior official said.
Tung, DATE, selected by a GPE-vetted electoral college to run the future GPE, named PERSON on DATE as favourite to be his deputy, saying he wanted her to stay on as head of the CARDINAL-member civil service.
""I have said I hope she can remain at her post. She, too, has indicated she is willing to do so. I hope she can be my chief secretary,"" Tung said in the NORP city of GPE.
""I would like to see a smooth transition. I hope most of the senior officials can remain in office,"" he said.
Chan, DATE, has signalled her interest in working for PERSON but restated her fervent belief in libertarian values.
She praised Tung for urging GPE to forget political squabbles and ""find common ground to build GPE together"".
But she cautioned that the freedoms and plurality of views that made GPE CARDINAL of the world's economic marvels must be preserved, and said pragmatism and flexibility were vital to it.
""Its very success has been founded on tolerance of different viewpoints,"" she told the college gathering. ""I believe that the law was made for man, not man for the law, that government is the servant of the people, not their master.""
Of a similar age, Tung and PERSON have much in common and have always described their relationship as friendly.
Both their families moved from GPE to GPE as the NORP overran GPE, defeating the NORP in a long civil war that ended in DATE.
The contest for GPE handover leadership has been dominated by the GPE connection. The CARDINAL candidates who lost to GPE -- former Chief Justice PERSON and entrepreneur PERSON -- were also GPE-born.
Chan herself had earlier been touted as a leadership candidate, having emerged in the polls DATE as GPE most popular political personality with PERCENT of public support. But she decided not to run against GPE.
The NORP form one the greatest networks within GPE. CARDINAL of GPE people fled the NORP regime and relocated their businesses in GPE after DATE.
The current leadership in GPE is also heavily dominated by the so-called ""GPE faction"" led by President PERSON, who has been actively promoting officials from his home area.
Tung, a conservative who was once bailed out by NORP funds and who opposes conflict with GPE, has evolved from a publicity-shy figure into a charismatic leader-in-waiting who can charm and quip his way through news conferences.
He shifts comfortably from one language to another -- LANGUAGE, LANGUAGE and LANGUAGE.
PERSON is profoundly respected by civil servants for her no-nonsense, efficient administrative style, which has earned her a reputation for toughness -- tempered by a huge smile, kind heart and balanced political outlook.
""The question is whether it is too balanced. GPE may reject her for defending democracy too much,"" the official said.","GPE legislators plan court action and a lobbying mission to GPE in a ""last-ditch battle"" to save the territory's elected legislature from GPE's axe, pro-democracy leader PERSON said on DATE.
GPE hands the century-and-a-half-old colony back to GPE in DATE, and GPE is moving full steam ahead with a plan to appoint a new provisional legislature to replace ORG (Legco) that was fully elected in DATE.
A NORP-controlled ORG is to name the CARDINAL members of the body at a meeting in GPE DATE.
The committee, formed in GPE DATE, is opposite to DATE election results in GPE. It gives all the clout to pro-China factions and sidelines democracy groups who won PERCENT of DATE poll.
PERSON, a lawyer and leader of the colony's largest political party, ORG, told ORG the government had a duty to stop GPE's provisional legislature from happening.
""Primarily it should be the responsibility of our attorney general to take them to the courts. But if the government will not act, then I'll certainly take them to the courts,"" he said.
""It's the last-ditch battle for GPE,"" PERSON said. ""We should not look at it as a fait accompli. We should fight against it with all our might.""
GPE has condemned GPE's plan and challenged GPE to prove its legality under LAW and Basic Law -- the documents which cover GPE sovereignty transfer.
PERSON is flying to GPE on DATE to lobby Prime Minister PERSON, opposition ORG leader PERSON and other NORP officials and members of parliament ahead of a DATE ORG debate on GPE future.
""I want them to say the setting up of this legislature will amount to a most blatant breach of the Joint Declaration. So far the NORP government has refused to say that,"" PERSON said.
He plans a similar mission to GPE and GPE DATE.
Another group of GPE legislators led by independent Emily PERSON is also flying to GPE to lobby. Colonial Governor PERSON, the ruling NORP' ex-chairman, also plans to be in GPE to press GPE case before the debate.
Reliable sources said PERSON has already drawn up a raft of lawsuits to sue members of the provisional body and institutions if the new assembly is set up in breach of laws and treaties.
But PERSON declined to reveal details. ""I don't think I should reveal my hand. A lot will depend on what they do,"" he said.
Opponents of the NORP plan point to findings by ORG's legal adviser, PERSON, who counselled in DATE that the provisional body would be illegal on several counts. GPE ORG has also highlighted illegalities.
CARDINAL legislature is allowed to operate in GPE, and no other body is allowed to pass bills under GPE constitutional set-up, ORG noted in written counsel. Any enactment of laws by a parallel body before the handover would amount to ""usurpation"" and would be unlawful, he said.
PERSON said GPE's crackdown on dissidents, including the recent DATE jailing of student leader PERSON for subversion, was another reason for GPE CARDINAL people to worry.
""It augurs very badly because what has happened to PERSON DATE can well happen to us DATE,"" PERSON said.
""Unfortunately, GPE will also have laws against subversion after DATE, because LAW says so,"" he said.
""The provisional legislature, which is going to be a rubber stamp for GPE appointed by GPE, will certainly pass a law something like the law under which PERSON was convicted.""",1
"Composite insurer ORGamp; ORG on DATE reported lower results in DATE since it merged and said it would seek shareholder approval to buy in PERCENT of its shares.
But large provisions for GPE environmental claims and the impact of the pound's strength took the gloss off the figures reported by the group, formed in a QUANTITY (MONEY) merger DATE.
Including the increased provisions and QUANTITY for currency movements, operating profits fell to MONEY from CARDINAL in DATE for the combined group.
After an initial gain on the buyback news, the shares closed down MONEY at MONEY.
A lower-than-expected net asset value and a poor performance in the NORP motor insurance market compounded the market's disappointment.
The MONEY in provisions, largely put aside for GPE asbestos and environmental claims dating back to the DATE and DATE, follows a change in the way the group assesses possible liabilities.
On DATE, ORG subsidiary PERSON set aside MONEY in a similar move.
Both companies have said that they expect it to mark the end to such provisioning.
The dividend for DATE was raised to MONEY per share in line with DATE management forecasts.
The operating figures did not include MONEY relating to consolidation costs, CARDINAL 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.
Chief executive PERSON said the integration was progressing well, especially on the staffing front, and the group was continuing to hold on to business.
But he played down the possibility of an acquisition to strengthen its life operations or exposure to LOC, emphasising that the current focus was on integration.
The group had decided to buy back shares in anticipation of continued strengthening of its capital position, said deputy chairman PERSON, who hinted that it could be repeated in the future.
The company will need shareholders' permission at the DATE meeting in DATE before it can carry out the buyback.
GPE weather 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.
GPE weather losses at MONEY were CARDINAL higher for DATE. Together with the reserving for environmental claims, this turned a QUANTITY profit in DATE into a QUANTITY loss.
Profits for the general insurance business as a whole after the changes in claims reserving were MONEY, down from CARDINAL in DATE.
In GPE, a PERCENT fall in profits reflected an increase in the frequency and average cost of personal lines claims -- motor claims frequency was up PERCENT and costs PERCENT -- and continuing competition.
The figures also included QUANTITY increase in reserves split between reinsurance of the GPE environmental costs and domestic insurance indemnity.
On a brighter note, ORGamp; ORG said it was confident motor rates had bottomed out and was scheduling increases for DATE.
Worldwide life profits increased by PERCENT to MONEY and were up PERCENT to MONEY in GPE.
The company said it was appointing PERSON, chairman of ORG bank, as non-executive chairman from DATE. ($ = 0.620 British Pounds)","Heavily weighted bank stocks pushed ORG to stronger territory at DATE's close, despite the fact that more issues fell than climbed.
The ORG's key CARDINAL composite index gained CARDINAL points to end at CARDINAL, a little shy of its recent record close of DATE. Turnover was CARDINAL shares worth MONEY (MONEY).
""At DATE, it was only the banks and the utilities,"" said PERSON, ORG vice-president of equities. ""When the banks do well, it certainly gives a good tone to the market.""
Declining issues edged out advancing ones CARDINAL to CARDINAL. Another CARDINAL traded flat.
Bank stocks soared ahead of DATE results, which will kick off with ORG earnings on DATE. GPE's big CARDINAL banks are forecast to unveil record profits for DATE.
And analysts consider NORP bank stocks still undervalued compared to GPE issues.
""Today I think really what happened was GPE banks were really on wheels,"" PERSON said. ""Suddenly NORP banks, which already had gone a long way, looked good.""
The important bank sector led CARDINAL of GPE's CARDINAL sub-indices higher, gaining PERCENT. Transports, consumer products and utilities followed.
The key gold group and base metals lost the most ground.
Among the hot stocks, the nation's ORDINAL largest bank ORG rose MONEYMONEY on CARDINAL shares. ORG, the largest, gained C$MONEY to C$MONEY on CARDINAL shares.
Weakness in gold bullion prices in both GPE and GPE hit gold stocks. However, ORG, which still embroiled in an ownership dispute over its huge Busang gold discovery in GPE, lost more ground due to the uncertainty. Shares fell C$MONEY to reach C$MONEY.
Biotechnology firm ORG International rose MONEY in light trading after news that it settled patent litigation with ORG after PERSON had alleged infringement of drug patents by GPE. PERSON, which also announced that it would list on the GPE exchange on DATE, said it and ORG agreed to various cross-royalty payments on some current and future products.
Convenience store company ORG rose MONEYMONEY after news that it signed a definitive deal to buy the assets of ORG Alimentation ORG said it extended its takeover offer for ORG to DATE.",0
"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 programs, 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 programs 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.","Be Inc., a private software company which ORG is eyeing as a possible acquisition target, will announce DATE that it will license software to an ORG rival, Be executives said.
Be will license its NORP operating system -- a type of programme that controls the basic functions of a computer -- to ORG, a maker of computers compatible with ORG's ORG, executives of the companies said. PERSON will have an exclusive license until DATE.
ORG itself has been considering using Be's software. DATE, the No. CARDINAL PC maker shelved a mired effort to rewrite the ORG operating system and has been looking outside, primarily at Be, for programming talent.
Be and ORG executives said their agreement was not a threat to ORG's plans. Instead, the companies are offering fast machines that would appeal to saavy users, such as programmers, game developers and Web site managers, known as PRODUCT.
""This agreement has no impact on any deal we may or may not conclude with ORG,"" said PERSON, marketing director at Be, based in GPE, GPE
An ORG spokesman declined to comment on the agreement.
Be, founded in DATE by the former head of ORG's research and development, writes software that takes full advantage of the multimedia and computing capabilities of the PowerPC microprocessor, the same computer chip that serves as the brains of the ORG.
The company's NORP includes many software features and innovations that ORG's programmers have not been able to include in ORG software.
ORG, struggling to set the ORG apart from personal computers running software from ORG, has been negotiating with Be since DATE about licensing its products or buying Be outright, executives close to the negotiations have said.
ORG Chairman PERSON and Chief Technology Officer PERSON have hinted in DATE that ORG planned to rewrite the core of the ORG software itself, but will turn to outside software companies for help in developing the features a computer user would see on the screen, including next-generation multimedia capabilities.",1
"Shares in GPE's ORDINAL biggest supermarket chain ORG rose on DATE after the group held out hope of an improved performance despite DATE DATE profits and sluggish sales.
""The share price rise is a triumph of hope over statistics,"" said CARDINAL sector analyst.
Sainsbury, which DATE was overtaken as market leader by arch-rival ORG, said DATE pre-tax profits slipped, as analysts expected, to MONEY (MONEY) from MONEY in DATE.
Sainsbury also announced a dividend of MONEY per share, up from MONEY.
The company suffered its ORDINAL fall in DATE profits in DATE when it reported in GPE Pre-tax earnings before exceptional items fell PERCENT to MONEY in DATE.
After DATE's results, several analysts cut forecasts for DATE to CARDINAL-725 million pounds, a level some analysts were already predicting, market sources said.
But shares closed up MONEY to MONEY, in a market which was generally easier after an unexpected CARDINAL-point rise in NORP interest rates.
The group said current sales from comparable stores, excluding petrol, were rising in line with inflation of PERCENT, well below the 7.5-percent gain reported by ORG in DATE.
A sector analyst who asked not to be named said ""Sales moving in line with inflation is pretty disappointing, considering they've introduced the loyalty card.""
The Reward card is now accounting for much of the increase in sales ORG is currently seeing.
""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.""
The company said marketing and operations initiatives along with the GPE card should continue to help boost sales and provide a strong DATE.
""We will be fighting on our traditional ground of quality and choice, along with customer loyalty,"" ORG said.
Sainsbury, which DATE announced plans to launch a bank with ORG, said there would be another ""major development"" on Reward soon and that it would move to strengthen its leadership in quality and choice.
The group also 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. ($MONEY Pound)","NORP utility LOC could face bids worth MONEY (MONEY) if the government lets ORG and Wessex Water go ahead with firm offers, analysts said on DATE.
However, the official go-ahead for any bids is likely to be linked to a deal offering price cuts for customers, they said.
""ORG (DTI) will probably decide that the bids are against the public interest unless there are price cuts to outweigh that,"" said PERSON, analyst at ORG.  
The ORG could make an announcement DATE, DATE after a report on the bids was submitted in DATE by ORG (MMC).
Wessex Water announced that it intended to bid for LOC on DATE, prompting ORG to put its hat into the ring on DATE.
Both intended bids were automatically passed on to the MMC under government regulations covering mergers of water and sewerage companies.  
Neither Wessex nor Severn Trent put a figure on their offers, preferring to wait for the ORG's decision, while LOC has consistently said the bids are unwelcome.
NORP shares were trading at MONEY, up MONEY by DATE ORG, prompting analysts to suggest that offers might be at around MONEY per share which would value the company at MONEY (MONEY).
Severn Trent, which covers ORG, saw its shares trading down MONEY to MONEY while ORG, which abuts LOC territory in the west of GPE, was down MONEY to MONEY.  
Analysts expect the ORG to seek price cuts of PERCENT before giving approval to bids, after it secured decreases of PERCENT by DATE from GPE's ORG DATE when it paid MONEY for ORG.
""I think there will be significant price cuts proposed but they will not want to over-egg the pudding,"" said PERSON of GPE.
The government could put off the CARDINAL bidders if price cut requirements were too severe, analysts pointed out, leaving LOC with no incentive to cut bills.  
""They won't want to make the price cuts so big that there's no bid, because then there will not be any price cuts at all,"" Hollobone said.
The area, which has large stretches of coastline demanding hefty investment to meet environmental standards, has some of the highest customer bills in the country and a strong representation from the minority opposition Liberal NORP.
""There are some clear political incentives for getting price cuts in place for the area, particularly ahead of a general election,"" the analyst said.  
The ruling ORG, which sold off the water companies in DATE as part of its privatisation drive, must call a general election by DATE and currently lags in the polls behind the opposition Labour party.
Analysts said price cuts of PERCENT should still leave LOC an attractive proposition for the CARDINAL bidders, who stand to make cost savings from combining operations.
ORG, formed from the merger of ORG DATE, forecast that it could secure DATE savings of MONEY by DATE.
-- GPE PRODUCT +44 CARDINAL 5427717",1
"Wired magazine remains CARDINAL of the publishing world's hottest DATE startups, but on the brink of its parent's initial stock offering some analysts are warning the chronicle of the digerati of the Internet age may prove a better read than investment.
""It's a great read, off Wall Street, but the balance sheet is not quite as neo-designed as the magazine,"" said PERSON, senior investment analyst at ORG's iWORLD.
The initial public offering of ORG, the publisher of the magazine, were due to be priced late on DATE, according to lead underwriter ORG.
The offering had been initially due in DATE but was pulled at TIME as the market for technology and Internet stocks was tumbling.
Now Internet stocks, most of which have only gone public since ORG milestone offering in DATE, have rebounded PERCENT from their DATE lows.
ORG revised offering has reduced the company's projected market capitalisation by MONEY, or PERCENT, from its initial plan, according to PERSON, who calculated the company's new market capitalisation at MONEY based on an IPO price of $MONEY a share.
Wired intends to sell up to CARDINAL shares at a range of MONEY a share to raise gross proceeds of MONEY. This compares with its earlier plan to raise MONEY from sale of CARDINAL shares.
IPO analysts said the company was wise to hold off on its initial offering, enabling it to take advantage of the current pickup in new share offerings coming to market.
Some Internet analysts also said the offering faces a market that is becoming more discerning than in the past, when investors snapped up shares of companies which had minimal operating history and little promise of near-term profits.
""I think they're going to have a little bit of a challenge with this one. It's just fundamentals,"" said CARDINAL analyst. ""DATE, when the Internet was just starting, you could have taken your dog named 'Net' public.""
Many investors and analysts compare Wired with traditional print media, since PERCENT of its revenues are still derived from its high-tech DATE, which since DATE has been promoted as the magazine of the digital revolution.
Early investors in GPE have included high tech guru PERSON, who heads ORG ORG, and publisher ORG.
Wired continues to be among the fastest-growing publishing properties, growing in circulation from CARDINAL at DATE, its DATE of publication, to CARDINAL in DATE, according to the company's offering documents.
The company also runs ORG, a hip Web site geared for those who want to keep on the leading edge of digital developments, and the search engine HotBot.
But IPO experts note the business plan for the Internet operations was still in early development and the company continues to post heavy losses, with a net loss for DATE of MONEY, including a MONEY writeoff, more than double its revenues of MONEY.
At an expected price of CARDINAL times estimated 1996 revenues, the valuation would be cheaper than recent Internet content companies like ORG, which has traded at CARDINAL times DATE revenues, or ORG Inc., which has been trading at CARDINAL times estimated 1996 revenues.
But this is pricey compared to more conventional print media valuations, where CARDINAL times revenues is often the norm, and CARDINAL times for properties exhibiting strong growth in an otherwise maturing sector, analysts said.
""Wired changed journalism, especially high-tech journalism, and made it cool,"" said PERSON, adding that investors may have difficulty valuing this in financial terms.
""I think Wired expected everybody to just assume it was the emperor emeritus of the digital world and that everything they did turned to gold,"" he said.","A NORP court has rejected the appeal of veteran dissident PERSON against a labour camp term for writing petitions, saying freedom of speech must not endanger the security of the state.
GPE's ORG rejected PERSON's lawsuit on DATE on the grounds that a petition he initiated in DATE ""contained attacks against the people's government"", said a copy of the verdict seen by ORG on DATE.
The petition ""exceeded the limits of the constitution and the law"", the verdict said.
PERSON had argued in his appeal that the constitution guaranteed his right to freedom of speech.
The court rejected PERSON's argument, saying freedom of speech ""must not endanger the security, honour and interests of the state"", the verdict said.
PERSON's wife, PERSON, said she would appeal even though chances of victory were slim. She has DATE in which to file an appeal.
""I will definitely appeal. This is our right,"" PERSON said by telephone on DATE. She attacked the court ruling as ""unfair... not objective and unjust"".
PERSON said that during the visit of GPE Secretary of ORG PERSON to GPE DATE police had shunted her to a labour camp in the northeastern province of GPE where her husband is held to prevent her meeting GPE officials.
""It's a very desolate place. Life's awfully hard there,"" she said. ""PERSON... eats CARDINAL meals a day.""
She said her husband was sharing a QUANTITY (150 square-ft) cell with CARDINAL other people.
DATE, police ordered PERSON, DATE, to serve DATE of re-education through labour on top of nearly one year in detention for drafting the petition, which urged the government to re-evaluate its crackown on student demonstrators in FAC on DATE, and to free all political prisoners.
He was also accused of accepting illegal aid from human rights organisations abroad and of trying to form a group to promote protection of workers' rights.
Re-education through labour is a form of administrative punishment that can be imposed by the authorities without recourse to prosecutors or the courts.
Western human rights activists say it is increasingly favoured by the authorities as a way of removing dissidents from circulation without the complications and publicity of a trial.
Liu took part in the Democracy Wall movement of DATE and was sentenced in DATE to a DATE jail term for ""counter-revolutionary propaganda and incitement"", or subversion.
Prominent dissident and former student leader PERSON, who drafted the petition together with PERSON, was sentenced to DATE in prison DATE for conspiring to subvert the government -- a sentence that triggered international condemnation.
GPE dismisses criticism of its human rights record as interference in its internal affairs.
The NORP authorities have dealt crushing blows to the struggling democracy movement in DATE.
Most dissidents have already been forced into exile or are serving long sentences in prison or in labour camps.
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 adjoins GPE, CARDINAL labour activists are standing trial for conspiring to subvert the government.",0
"Analysts were mixed on ORG DATE results and some said they might raise DATE forecasts while others left forecasts unchanged.
""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,"" he said.
ORG said he was considering raising his profit per share forecast from MONEY to MONEY.
But PERSON in GPE said there was no reason to adjust estimates.
PERSON at ORG said that while health care earnings were better than expected, the performance of fibres and chemicals had been weaker. He kept his forecast for DATE net attributable profit of MONEY, against MONEY in DATE.
He also maintained his ""hold"" rating for the shares because they were ""fairly valued"". He said the company was an attractive long-term investment.
PERSON said he expected DATE provision of MONEY at ORG, mainly at chemicals and fibres. Rhone took CARDINAL in provisions in DATE.
""The results are in line with expectations. They confirm that ORG is a company pulled forward by its pharmaceuticals and agro,"" said PERSON at GPE brokers BNP Du Bouzet.
ORG reported DATE net income of MONEY versus CARDINAL at the same stage DATE and an operating profit of MONEY versus CARDINAL previously.
Net sales were MONEY versus MONEY.
For DATE, net income was up PERCENT at MONEY.
The operating profit at health sciences, which includes pharmaceuticals and animal health, jumped to MONEY from MONEY.
Finance director PERSON said the increase was in line with the company's forecasts about the synergy effects of the acquisition of Fisons in DATE and was also due to new products.
He cited the anti-cancer drug PERSON, PERSON, PERSON as well as WORK_OF_ART and B vaccines as examples.
GPE also said there had been good sales in anti-fever vaccines in GPE.
But brokers ORG said PERSON and PERSON were taking off slowly. It downgraded the share to neutral from outperform, after a good recent run.
PERSON said he expected a DATE net income of MONEY and further charges for the recall of albumin products. He re-itereated his buy advice on the share.
-- GPE newsroom +33 CARDINAL DATE","Shares in NORP sports equipment maker Groupe ORG fell sharply for DATE DATE after a long and steady rise which saw the share more than double in value DATE.
Dealers said that the company, headed by PERSON and based in the mountain region of GPE in the east of GPE, had become the victim of a number of rumours which cast a pall over the dynamic picture of the company.
ORG executives were in GPE on DATE on DATE of an investors' road-show, discussing DATE sales figures.
""There are CARDINAL rumours in the market. CARDINAL is that a NORP distributor has gone bankrupt, which could cost the company money, and the other is that the roadshow is going badly,"" a share dealer said.
Salomon was down MONEY, or PERCENT, at MONEY at DATE ORG after having given in MONEY on DATE.
""In fact one of our distributors in GPE, ORG has gone bankrupt. But that is already in DATE figures and it will not change anything on the group level,"" ORG spokeswoman PERSON told ORG.
ORG applied for court mediation with creditors on DATE with debts of MONEY and ORG (JSDA) cancelled the company's Over-the-Counter registration.
ORG's ORG said that ""everybody knows about the difficult market for DATE sport equipment in GPE"" and brushed off the effect on ORG's results.
Meanwhile ORG's NORP subsidiary ORGamp; PERSON was trading in GPE at MONEY, just above its life low of MONEY and far below its year high of MONEY. It was introduced on the OTC market in DATE at MONEY.
On DATE, the NORP unit reduced its parent DATE net results forecast to MONEY from MONEY and a comparable figure of CARDINAL.
ORG said that the roadshow in GPE had been long planned, followed on a DATE visit to ORG and was ""going fine"".
NORP dealers said that even if the rumours were unfounded and the GPE effect limited, they were a catalyst for profit-taking, especially now that the NORP market has hit DATE high at a level not seen since in DATE.
ORG has been a stock market darling. From a low of MONEY on DATE, ORG rose to an all-time high of MONEY on DATE DATE.
On DATE, it said its ORDINAL half sales to end DATE, at constant currency rates, rose by PERCENT to MONEY.
While hiking equipment -- walking boots and mountain gear -- was up by PERCENT and the PERSON Made golf equipment brand had a PERCENT increase in sales. Winter equipment, however, was down PERCENT. The NORP cycle brand was up PERCENT.
ORG had earlier forecast that its operating results for DATE would be stable due to the cost of further diversification into snowboards with the aqcuisiion of GPE and the planned launch of new boards, shoes and fixtures in DATE as well as new roller skates in DATE.
In DATE, ORG made a net attributable profit of MONEY against CARDINAL DATE.
-- GPE newsroom +33 CARDINAL DATE",1
"GPE on DATE accused GPE of taking an irresponsible approach to a bitter sovereignty dispute over a group of uninhabited LOC islands, saying GPE must take action to avoid further damaging ties.
DATE over the islands, known in GPE as the ORG and in GPE as the ORG, has flared in DATE after NORP rightwingers moved to buttress GPE's claim by building a lighthouse on CARDINAL of the group.
""The NORP government has taken very irresponsible actions, particularly by encouraging illegal landings on the Diaoyu islands by rightwing groups, hurting NORP relations,"" NORP ORG spokesman PERSON said.
GPE should take action to prevent further damage to ties, PERSON told a news briefing in GPE.
Tension over the potentially resource-rich islands soared on DATE when GPE and GPE activists pierced a NORP cordon and planted NORP and GPE flags on CARDINAL of the islets, claimed by GPE and by both GPE and its arch-rival GPE.
The brief landings by a handful of the around 300 GPE and GPE protesters aboard a CARDINAL-boat flotilla were the ORDINAL time activists had managed to break GPE's maritime blockade.
An earlier attempt ended in failure when GPE activist PERSON drowned after leaping into stormy waters to protest GPE's control of the group. A NORP coastguard medical team failed to revive PERSON but saved the life of a fellow protester.
GPE has lamented what it calls the illegal landings and has not ruled out arresting future landing parties. A foreign ministry spokesman said on DATE that GPE had asked GPE and GPE to prevent further attempts to land on the islands.
NORP spokesman PERSON said GPE was responsible for the revival of the row over ownership of the islands, which GPE says it has claimed for DATE.
GPE's claim dates to DATE when it defeated imperial GPE in a war and seized control of a number of NORP territories.
""The NORP government didn't take any action to stop the damaging of NORP ties by rightwing groups who offended against NORP sovereignty,"" Shen said. ""This has aroused the strong anger of the NORP people.
""The will of the people cannot be bullied,"" he said.
Gains by NORP rightwing forces would force victims of past NORP aggression in LOC to question the future role GPE would play in the region, he said.
Outrage over the NORP rightwingers' construction of the makeshift lighthouse on the islands has united nationalist sentiment in GPE, political rival GPE and the NORP colony of GPE, which reverts to GPE rule DATE.
Shen's accusations of NORP irresponsibility represented some of GPE's strongest diplomatic language yet in a dispute that both GPE and GPE have sought to put behind them.
Analysts say GPE has been forced to walk a diplomatic fine line between retaining its nationalist credentials and damaging ties with a vital economic partner.
Shen said GPE would strengthen security to protect its citizens after GPE's de facto embassy in GPE reported receiving a threatening letter from NORP righwingers.
""The NORP side will take action at home to strengthen our security,"" he said, adding that he hoped other ""relevant"" countries would also protect NORP citizens.","The family of detained NORP dissident PERSON have found a lawyer willing to defend the leader of DATE student protests in GPE's FAC at an expected trial, a close relative said on DATE.
NORP court officials on DATE informed ORG's mother, PERSON, she had DATE to find him a lawyer, a signal that the dissident had been indicted and a trial was imminent.
""We've already found one,"" a family member said when asked if a lawyer had been hired.
The lawyer had visited the court dealing with ORG's case to begin legal formalities, but there was still no news of when the trial of the former student leader, who has been in detention since DATE, would begin, the relative said by telephone.
""The next thing is for the lawyer to join in the law case, to understand the testimony and to understand the evidence,"" he said, adding it was not clear when the lawyer would be permitted to meet ORG.
PERSON said on DATE that officials of ORG had declined to say if the dissident had been indicted, but NORP legal experts said lawyers are unnecessary in GPE unless a suspect has been charged.
ORG's relative said the family was concerned about the situation of the DATE dissident, who has been lost in a security limbo since his detention DATE.
""We feel pretty anxious. We are just waiting for new developments,"" he said.
NORP sources have said ORG faces a sentence of DATE in prison if convicted of counter-revolutionary incitement, or subversion.
The outspoken activist attracted the ire of GPE's communist authorities in DATE when he shot to prominence as a leader of student protests for more democracy centred on FAC in the heart of the NORP capital.
The demonstrations were crushed by the army on DATE with heavy loss of life and ORG, a ORG student, served DATE in jail for his role.
PERSON appears likely to be the next victim of a rash of convictions and detentions of members of GPE's tiny and struggling pro-democracy movement.
On DATE, prominent dissident PERSON was ordered to serve DATE in a labour camp after he joined veteran activist PERSON in calling for the impeachment and dismissal of ORG chief PERSON.
PERSON whereabouts are unknown.
Hopes that the award of the DATE WORK_OF_ART to jailed veteran dissident PERSON could revitalise the faltering democracy movement were dashed on DATE when the prize went to campaigners for the former NORP territory of GPE.
GPE has long dismissed appeals from foreign countries and human rights campaigners for softer treatment of dissidents as interference in GPE's internal affairs.
PERSON had been expected to face new charges since DATE, when the court that convicted PERSON of plotting to overthrow the government also implicated ORG.
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 NORP leaders for the release of all those still in prison for their part in the DATE protests.",1
"Amidst a wave of consolidation, GPE hospital management and nursing home companies are expected to post mixed results in DATE.
Big hospital companies, despite cost and competitive pressures, are beating up on non-profits and posting fat profit margins. The average gain expected from the top CARDINAL firms is PERCENT, based on ORG estimates.
""I haven't noticed deterioration in margins in these companies because they're grabbing market share, controlling costs and being efficient,"" said PERSON analyst PERSON.  
The hospital business was shaken DATE by the proposed MONEY merger of ORG and ORG, which combined will be ORDINAL-largest in the field behind giant ORG
The nursing home industry was jolted DATE when ORG said it acquired ORG GPE, the largest privately held GPE home healthcare company.
The volatile nursing home and post-acute care market is less concentrated than the hospital business and DATE profit picture is more mixed, analysts said.  
""Results are going to be coming in all over the board,"" said ORGamp; Sons analyst PERSON.
Big profit gainers on DATE look to be ORG and ORG, with weak results forecast for ORG and ORG, analysts said.
Challenges facing both the labor-intensive hospital and nursing home businesses include upward wage pressure due to record-low unemployment levels, as well as ongoing debates in GPE over the future of ORG and its reimbursement rates for certain contract therapy services, analysts said.
ORG CALL CONSENSUS QTRLY EARNINGS FORECASTS
Company			    Qtr  EPS estimate  DATE ORG
Beverly Enterprises	    Q3     $MONEY	   $MONEY
ORG	CARDINAL     $MONEY	   $MONEY
Genesis Health Ventures	Q4     $MONEY	   $ORGHealth Management		Q4     $MONEY	   $MONEY
ORGORG	 CARDINAL     $MONEY	   MONEYManor Care			 CARDINAL     $MONEY	   $MONEY
PERSON		 Q4     $MONEY	   $MONEY
PERSON			 CARDINAL     $MONEY	   $MONEY
--Chicago PERSON","Freed from its slow-growing data storage and imaging businesses, ORGamp; ORG DATE reported a PERCENT jump in earnings for DATE.
The St. Paul, Minn.-based manufacturing giant -- sometimes seen as a mirror of the GPE economy -- said net profits rose to MONEY, or MONEY a share, in DATE, from MONEY, or MONEY a share, in the DATE period. The DATE included earnings of MONEY, or MONEY a share, from discontined operations.
Sales grew PERCENT to MONEY from MONEY.
The results surpassed analysts' average forecasts of MONEY a share, according to ORG, which tracks estimates.
3M's stock jumped MONEYMONEY, helping to boost the Dow Jones industrial average, of which is it is a component.
""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.""
CARDINALM served notice that it can grow 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 was 3M's ORDINAL since the spinoff.
""They're not held back anymore by that business that's now called Imation,"" said ORG analyst PERSON.
3M said it expected solid growth again in DATE.
If it can deliver successive quarters of big gains, the company's stock 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,"" said NORP.
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,"" said ORG GPE.
That portrayal is somewhat less accurate since the Imation spin-off, since key sectors of the economy are now 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.""
The company's units in GPE, elsewhere in LOC, LOC and GPE posted double-digit volume increases in DATE while unit sales in LOC grew PERCENT, despite sluggish economies in many major NORP countries.
For DATE, net income grew PERCENT to MONEY, or $MONEY a share, as sales rose PERCENT to MONEY.",1
"GPE's gold giant ORG said it is poised to become a more powerful player in the LOC with its late Wednesday MONEY takeover bid for ORG and the rest of its subsidiary, ORG
A takeover of GPE Highlands would make ORG the main company involved in the rich ORG gold deposit in that country,  ORG spokesman PERSON said in an interview from GPE.
""We think exploration at ORG will be very prospective in the future,"" he said.
""It simplifies our structure and we believe it gives us more bang for the buck in terms of future exploration.""
Highlands owns PERCENT of the ORG joint venture. ORG also owns PERCENT of the gold deposit and is the mine's manager. The takeovers would give ORG a PERCENT stake.
If the takeovers are successful, GPE DATE gold production would be boosted by QUANTITY to CARDINAL a year by DATE, PERSON said.
Reserves would go up by QUANTITY to a total of QUANTITY, he said.
""It clearly consolidates ORG's position in GPE,"" said gold analyst PERSON of ORG in GPE.
""It's a very high quality operation with low production costs.""
But Highlands' initial reaction to the takeover bid was to advise shareholders not to sell their shares.
""At the moment, the advice would be not to sell,"" Highlands company secretary PERSON told ORG in GPE. ""But the directors are considering the offer and are expected to make a statement later today,"" he said.
Placer has offered A$MONEY (corrects from A$MONEY) a share for Highlands and has offered CARDINAL FAC share for every CARDINAL ORG shares.
""We think it's a very fair bid. We have no intention of changing it,"" said PERSON.
ORG already owns PERCENT of ORG and PERCENT of ORG.
It said its bid for Highlands represents a PERCENT premium to the price of Highlands shares on DATE, and its bid for ORG has a premium of PERCENT.
""This is about growth for ORG shareholders and a golden opportunity for the shareholders of ORG and minority shareholders of ORG,"" PERSON, ORG's chief executive, said in a statement.
""We have great confidence in LOC. GPE is consolidating its presence to compete more effectively.""","ORG , a small NORP mining exploration company, was poised to gain control of CARDINAL of the world's largest unexplored copper-cobalt discoveries on DATE.
The GPE government agreed to a deal with the GPE-based company backed by GPE-based NORP financier PERSON, spokesmen from both sides told ORG in GPE. The deal gives ORG, GPE's state-owned mining company, a PERCENT stake in the huge PERSON Fungurume deposit. NORP will have a PERCENT stake, sources said.  
A spokeswoman for NORP in GPE said she expected official confirmation by DATE TIME.
NORP has said it expected to win the property for MONEY and a commitment to develop the property.
""It's a very satisfactory deal for NORP, if they've got it,"" said PERSON, president of ORG, a GPE-based company that had also had its eye on PERSON.
""It's one of the best projects anywhere in the world.""  
Cornucopia had formed a tentative consortium DATE with metals giants Inco Ltd and ORG, hoping to submit a proposal for the project.
But ORG's pact freezes Cornucopia out of the running.
The deal gives a hint of some stability in GPE's business world, said PERSON, president and chief executive of ORG, another GPE-based company exploring in GPE.
""It gives a signal that the government is working and it's in business,"" he said in an interview. ""From an investment perspective, it's a powerful message.  
""It means when Gecamines gets involved in an agreement, the government backs them up.""
But some analysts were concerned about the high risks involved in doing business in GPE, a country plagued by political uncertainty and overrun by crowds of refugees from neighboring GPE.
""GPE is a basketcase,"" said mining analyst PERSON at brokerage ORG in GPE.
The amount of money NORP will have to invest and pay for the project is ""ridiculous"" for the return and the risk the company can expect, he said.
Milligan estimated it would cost MONEY for initial development of PERSON and MONEY in total capital costs.
The project was previously explored by a consortium led by ORG, which invested MONEY in the project in DATE but walked away because of political risk.
-- Heather Scoffield, ORG CARDINAL 941-8104",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, the inventor of the PERSON computer networking technology and founder of ORG who is now vice president of technology at ORG, of GPE, GPE.
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.
Over 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.
MORE OUTAGES AS PROVIDERS TRY TO ORG UP WITH DEMAND
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 also 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 the 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 the occupants are.
SHOWDOWN OVER ONLINE PORN LIKELY
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, 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.","The leader of GPE biggest ORG said on DATE the GPE-appointed interim legislature GPE plans to set up DATE would not clash with existing institutions before the handover.
PERSON, leader of ORG (ORG), said the possibility that the provisional legislature would meet on the communist-ruled mainland rather than in GPE has not been ruled out.
GPE is handing GPE, its last major colony, back to GPE as an autonomous GPE in DATE, ending DATE of colonial rule.
GPE political establishment, and the governments of GPE and GPE, are polarised over GPE's plan to dissolve the elected ORG (Legco) on DATE and replace it with a provisional body until elections in DATE.
The plan is GPE's response to an enlargement of the democratic franchise by Governor PERSON, which GPE has said violated the handover agreements.
In an interview with ORG, ORG said GPE constitutional arrangements did not prevent the provisional legislature from becoming GPE legislative body on DATE, after the sovereignty transfer.
""That is the date from which onwards, the provisional body is supposed to be involved in legislative work,"" ORG said.
""Before that date, although the body is there, ORG and also some NORP officials in charge of GPE affairs have made it very clear that this provisional body will not be a legislature of GPE.""
The GPE-controlled ORG has elected a CARDINAL-member body that will select both the territory's ORDINAL post-colonial leader, the chief executive, and the provisional legislature. Both selections will be announced DATE.
Critics portray the provisional legislature as a rubber-stamp body appointed by GPE that will enact repressive laws and eliminate many basic freedoms.
But ORG told ORG the committee process to establish the provisional body was just as much an election as the electoral arrangements for ORG, some of whose members are only indirectly elected.
Tsang, whose ORG fared badly against the popular ORG in the DATE Legco elections, insisted that GPE had not breached the DATE NORP treaty on the handover.
""GPE is abiding by LAW. GPE is not going to set up a parallel legislature in GPE before the actual handover,"" ORG said.
""The place where the provisional body will work before DATE has not been thoroughly discussed,"" he said.
""If people believe it would be inappropriate for the provisional body to meet in GPE before DATE, then it can meet somewhere outside the territory,"" he said.
The leader of ORG, PERSON, said the provisional body would be illegal and that if the government did not take it to court, then he would do it himself.
""It's the last ditch battle for GPE,"" PERSON said. ""We should fight against it with all our might.""
PERSON, who plans to lobby GPE DATE to take firmer action, said the provisional legislature would roll back civil liberties and have dissidents jailed as they are in GPE.
GPE's crackdown, highlighted by the DATE jail sentence handed to student leader PERSON DATE, was a sign of what GPE would be like after DATE, PERSON said.
""Today PERSON, DATE you and me,"" he said.",0
"Building products and energy group ORG said on DATE it had started the DATE poorly due to continued weakness in the NORP housing market, but it was still coy about the results for DATE.
Chairman PERSON told shareholders at the DATE meeting that ORG's operating profit in DATE of the current DATE was in line with budget, but PERCENT below DATE levels.
Cottrell gave no figures, but said the 1996/97 ORDINAL CARDINAL earnings would be above DATE of CARDINAL.  
""In summary, operating profit for DATE is in line with budget and PERCENT behind DATE,"" ORG said. ""Happily, this indicates that DATE profit will be substantially above the extremely disappointing result in DATE.""
He said most forecasters expected a recovery in demand for home building materials in DATE and this, along with recent interest rate cuts, should give the economy a boost.
""In this context, we expect that the ORDINAL CARDINAL profit should be well above the same period in CARDINAL."" ORG reported a PERCENT fall in its CARDINAL net profit to MONEY.  
Sales fell to MONEY in DATE from MONEY DATE.
CARDINAL analyst at the GPE meeting said the ORDINAL DATE profit result indicated that the group was currently looking at a flat DATE profit for CARDINAL.
Cottrell said shareholders would receive a MONEY per share dividend payment for DATE, the same amount paid in DATE of CARDINAL.
""...current levels of trading enable the directors to anticipate that the company will be able to maintain the MONEY rate for the DATE interim dividend,"" ORG said.  
ORG cut its DATE to MONEY a share, from MONEY a share, due to PERCENT fall in net profit to MONEY in DATE.
ORG's total dividend for CARDINAL fell to MONEY a share from MONEY DATE.
The meeting was adjourned for TIME after ORG called a poll to amend ORG's articles of association giving ORG the authority to issue converting preference shares. ORG said PERCENT of the shareholders who voted approved the issue. PERCENT of shareholders voted.  
Managing director PERSON told reporters after the meeting that GPE would issue converting preference share for potential acquisitions, but neither a purchase or an issue was planned.
Cottrell said ORG was reviewing its NORP assets following poor financial performances from the operations there. ""There is a review of the assets at present, some assets have been sold off in the GPE, we are looking hard at those in mainland LOC, primarily GPE,"" ORG said.
However, after the meeting, referring to the NORP operations, PERSON said: ""We are about to implement strategies that would result in a good return for shareholders.""  
Profits from GPE's NORP businesses fell PERCENT to MONEY in CARDINAL, while sales fell PERCENT to MONEY.
Cottrell and PERSON were grilled by shareholders over the group's overall financial performance and its timber logging and woodchipping activities and were faced by environmental protesters outside the hotel where ORG held its meeting.
PERSON also said ORG was on target to deliver MONEY in savings in DATE and that GPE was ahead of budget for DATE with savings of MONEY being achieved.  -- GPE newsroom CARDINAL-2 9373-1800","NORP life office ORG is expected to make a firm, 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 indicative bidding range of MONEY initially set for institutions, and gives GPE's ORDINAL biggest life office a market capitalisation of MONEY on listing.  
""It was very significantly over-subscribed and at A$MONEY there's no doubt that we could have sold it a number of times over,"" National Mutual managing director PERSON told ORG on DATE. He described an oversubscription rate of CARDINAL times as ""not a bad figure"".
Share analysts told ORG on DATE the shares could climb steeply on NORP and GPE exchanges on DATE, as institutional bidders which failed to secure enough shares in the offer stepped into the market to lift their stakes.  
Institutions received on average PERCENT of the allotments sought in the price-setting institutional component of the offer, a market source said.
""There's certainly keen demand so I think that will certainly still be there (after listing),"" WORK_OF_ART director of equities, PERSON, told ORG on DATE.
The shares could reach a high of A$MONEY, he added.",0
"ORG unveiling on DATE of plans to run its finances more conservatively were welcomed by analysts who have sometimes been critical of News' previous big debt and equity issues.
PERSON, the chief executive and chairman of the global media group, told the company's DATE meeting in Adelaide that News now had over MONEY of cash in the bank after a bond issue DATE and planned to keep it there.
""We know that we have to be not only viable and profitable, but also that we should stay strong and liquid,"" PERSON said.  
PERSON then said ORG multi-billion dollar plans to create huge pay television networks in GPE, LOC, GPE, LOC and GPE would be financed from cash flow. He also said ORG needed to keep its liquidity up to finance new acquisitions.
""We have outlined these plans to show you where we are and where we plan to go. As far as possible, we will finance them out of current cash flow to maintain liquidity so that we will be ready to take new opportunities as they arise,"" he said.  
Analysts said the comments indicated a more conservative financial strategy, constrasting with the big acquisitions, investments and big debt and equity issues of the past.
The analysts said the market, which has sometimes been critical of the big deals and the big calls on the market, would welcome the comments.
ORG issue of preference shares DATE to fund the MONEY buy out of ORG upset many and triggered a slump in the price of the preference shares.  
""It's slightly more conservative and the market will like it,"" said ORG media analyst PERSON of PERSON's latest approach.
""The market is absolutely paranoid that they'll go out and spend MONEY on something that they will not like,"" PERSON said.
""Anything with more money spent on the big picture stuff, they're not going to like much,"" he said, adding the market wanted News to concentrate on ploughing money into its existing pay television networks in GPE.  
Analysts said PERSON's comments about keeping the MONEY in the bank and financing projects from cashflows indicated any acquisitions would be small by PERSON standards.
""That imposes a huge financial discipline on the company which would hearten the market immensely,"" said a GPE media analyst. ""If he can keep to those comments then it's most certainly a big plus,"" he said.
ORG shares closed MONEY or PERCENT lower at A$MONEY after PERSON said DATE was not up to earlier expectations of a PERCENT profit rise in CARDINAL. But he said News remained on track for that PERCENT rise.  
""If they can't meet their expectations in DATE when the strong revenues from EVENT are coming, then what hope do they have for DATE,"" CARDINAL analyst said.
The hit movie was made by ORG ORG ORG subsidiary.
""His comments DATE were weaker than what people were anticipating and it looks like GPE television was CARDINAL are of disappointment,"" another analyst said.
-- ORG CARDINAL-2 373-1800","Former ORG treasury and risk chief PERSON has been banned from being a director in the City, industry sources said on DATE after a DATE disciplinary hearing.
GPE's ORG (SFA) said in a statement that the outcome would not be formally announced until after any appeal process had ended.
But the sources said the tribunal had banned Hopkins from being a registered director for DATE and ordered him to pay an unspecified amount of costs.
Hopkins, who was not immediately available for comment, did not appear before the tribunal, chaired by Judge PERSON, and was not legally represented.
After he has been formally given the full written judgment, he will have DATE to lodge an appeal.
Hopkins was among a group of former ORG executives against whom the SFA brought disciplinary charges for their part in the downfall of the investment bank. It collapsed DATE when GPE-based trader PERSON ran up debts of MONEY in unauthorised derivatives trades.
Hopkins, who worked for GPE in GPE, has always maintained that he tried to warn other ORG executives of the bank's dangerous position but that he was effectively ignored.
He told a parliamentary committee investigation into GPE DATE that his attempts to alert more senior ORG staff to potential problems had failed. He painted a picture of culture clashes between the traditional ORG banking activities and its newer securities activities.
In the official NORP report into the ORG affair, executives of the bank were criticised for not heeding ORG's warnings.
""In our view, the collapse might have been averted if Mr Hopkins's concerns had been taken seriously, and acted upon promptly and effectively,"" the GPE inspectors said.
The tribunal heard the SFA case, put by prominent barrister PERSON, and questioned seven witnesses. It also took into account evidence given by Hopkins to the GPE enquiry and to GPE's ORG.
DATE the ORG reprimanded ORG former head of equity derivatives PERSON for her part in the bank's collapse and has already banned several other former ORG executives including former chief executive PERSON.",0
"ORG newly launched EVENT network computer is its ORDINAL machine to compete directly with low-end personal computers, but analysts aren't expecting runaway sales just yet.
""Maybe DATE from now it will begin competing with low-end PCs,"" said PERSON, an analyst at ORG, noting ORG's network computing strategy is tied to future expansion of its PERSON technology.
An entry-level GPE will be available in DATE.  
TIME, LOC, Calif.-based provider of network computing products and powerful workstations, introduced the FAC, a scaled-down PC designed to access corporate networks and the Internet, with an entry price of $MONEY.
The company said the entry-level model would contain QUANTITY of memory and will ship beginning in DATE. A fully configured system, which includes memory, a keyboard, a mouse and QUANTITY monitor will ship for $MONEY.  
ORG officials are hoping the device will appeal to corporate clients looking to cut their costs for upgrading and maintaining office PC's.
However, given the entry of long-time GPE doubter ORG into the market with plans for a light version of its Windows operating system, the market will be hotly contested.
ORG launched its ORDINAL GPE model DATE.  
GPE, Calif.-based ORG, which has been beating the drum for creating a new GPE standard for DATE, is leading a further effort to build network computers for broader markets.
""This is just beginning to heat up and could potentially start getting very interesting,"" CARDINAL analyst said of the brewing slugfest between computer industry titans.
ORG machines are more highly targeted than many of its adversaries', however, and it has linked them together with a PERSON-centric model of future computing.  
Java, a hot new technology introduced by ORG in DATE as a programming language initially, has since been expanded into a whole computing architecture for both hardware and software as ORG moved aggressively to proliferate its use.
Sun has licensed PERSON to the suppliers of nearly all major computer operating systems, including ORG and its popular Windows operating systems. One of PERSON's most compelling features is that it can be used across rival systems.  
This feature should enable software developers in the future to write CARDINAL version of their software that could work on nearly all systems, known as ""write once, play anywhere.""
Initially, the market will be to replace very basic computer terminals, such as ORG's CARDINAL terminals or ORG AS/400 midrange character-based terminals, in very simple, dedicated functions such as entering data into a company's network.
ORG projects there are ""QUANTITY"" such terminals in use currently, and perhaps CARDINAL personal computers used for such activities.  
The market for the GPE is likely to build sales gradually, according to IDC, which expects CARDINAL to be sold around the world in DATE, still dwarfed by the tens of millions of personal computers sold DATE.
Some industry analysts have questioned whether the GPE will ever really catch on, and many believe it will not do so for DATE, by which time ORG's partners should be producing microprocessors optimized for PERSON.
PERSON, president of ORG, said in an interview that ORG realistically expects acceptance to be a gradual process, but to lead to a new computing epoch.
""We worked long and hard about not just producing a cheap box, but (also addressing the question) 'How does that box work in a corporate environment?',"" he said. ""'How do you administer it? How do manage it? How do you develop it? How do you deploy it?'""
He acknowledges ORG's approach produced a system that is ""markedly different"" from the NCs that ORG and ORG are talking about, or even that of ORG's ORG.
Sun is targeting cost savings, claiming large organizations can reduce the DATE cost of ownership using its PERSON systems to MONEY, or CARDINAL of DATE networkedPC costs projected at MONEY.
--sam.perry@reuters.com, ORG, +1415 CARDINAL","NORP airlines and tourist operators are worried about GPE's falling share of the growing number of NORP taking overseas holidays, so much so that they have formed an action plan to halt the decline.
However, details of the action plan are secretly guided by the carriers, ORG and ORG, as they don't want to be giving away their strategic plans to the opposition.
PERSON is jointly owned by ORG and ORG
Both ORG and PERSON also face lower yields as they cut air fares on the GPE route to entice holidaymakers down-under.
""We have to arrest the decline as soon as we identify it, because it might be even worse DATE and then we are in trouble,"" said PERSON, ORG' group general manager PERSON and GPE.
ORG said the decline in NORP market share is serious for the MONEY NORP tourism industry.
""Our share of the NORP market has fallen CARDINAL of a percentage point over DATE, so our share of a growing market is falling and that is not good news to have a decline in a market share, because once you have a decline it could have further ramifications,"" ORG told ORG.
ORG said GPE is losing its share of the NORP tourist market to LOC and GPE, in particular GPE.
He added these markets have raised their promotion budgets to attract NORP tourists, while GPE was cutting its marketing budget.
The NORP government plans to cut PERCENT of the budget for the industry's top body, ORG (ORG).
Fellow NORP airline ORG sees raising capacity on the GPE route as a way to tourist numbers, said PERSON's general manager of international services, PERSON.
""There has been a great expansion of capacity on the NORP route (from GPE),"" PERSON told ORG.
""What I would like to see is an increase in our (PERSON) capacity, so we can fly DATE to GPE, which would create more flexibility with tour operators and may stimulate demand.""
PERSON, which started its international operations in DATE with its inaugural flight to GPE, has CARDINAL flights a week to GPE's ORDINAL largest city.
Aviation analysts said the entry of PERSON into the GPE market has put more pressure on ORG' NORP routes.
""ORG is hurting as there is more competition on the NORP route, with PERSON coming in and airfares going down, said PERSON, managing director of aviation consultants FAC for Asia-Pacific Aviation.
ORG said in DATE that results from its GPE routes had weakened in DATE.
Revenue from the NORP route fell to MONEY in DATE, compared with MONEY DATE, but the route still generated the most revenue of ORG' overseas routes. ORG also flies to the GPE and LOC, southeast LOC, northeast LOC and the GPE and the LOC.
However, the number of NORP tourists coming to GPE is still projected to grow, albeit at a slower rate.
The NORP government's ORG predicts that CARDINAL NORP tourists will come to GPE in DATE, up from CARDINAL in DATE, and this is expected to grow to CARDINAL in DATE.
The number of tourists from the rest of LOC, excluding GPE, is forecast to grow to CARDINAL in DATE, from CARDINAL in DATE, and to grow further to CARDINAL in DATE.
""The market is still growing, but it's just not as fast as some people would like it,"" PERSON said.
-- ORG CARDINAL-2 9373-1800",0
"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 labor 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.","The drive to cut costs and offset falling margins in insurance broking continued apace on DATE as ORG and ORG confirmed that they are to merge.
The CARDINAL GPE-based brokers announced DATE they were in talks and said the complementary nature of their businesses would offer significant benefits to clients, employees and shareholders.
The merger comes against a background of industry over-capacity and intense competition which has put increasing pressure on margins and led to an acceleration in consolidation as companies search for economies of scale.
The companies said they believed the deal would create a stronger, more broadly based and competitive group better positioned to win new business and revenues.
Another attraction of the deal is the scope it offers for cutting costs through the merger of head offices, the companies' branch networks and the rationalisation of support and administrative functions.
Such moves will produce cost saving of MONEY in DATE and together with the improved prospects for revenue growth will significantly enhance earnings and dividend propects, the company said.
Fenchurch shareholders are to be offered CARDINAL shares in the new company, to be called ORG, for every CARDINAL shares they hold, valuing Fenchurch at MONEY (MONEY).
DATE results for the CARDINAL groups highlight the difficulties faced in the industry with PERSON' reporting a PERCENT fall in pre-tax profits to MONEY.
Fenchurch's profits dropped PERCENT to MONEY, prompting it to more than halve its final dividend.
The deal comes DATE after ORG and ORG announced they are to merge in a deal worth MONEY.
The companies believe DATE's move will reinforce operations in areas where both are strong such as the the GPE retail, marine cargo, international non-marine and reinsurance markets.
Lowndes position in marine, fine art and entertainment will also be complimented by ORG's position in NORP non-marine and aviation and the broad spread of operations would offer improved growth potential, they said.
Future growth is to be pursued through a combination of organic growth and acquisition.
Lowndes chief executive PERSON is to become chief executive of the new group with PERSON chairman Sir PERSON becomning non-executive chairman.
The costs of the merger are expected to amount to QUANTITY.
($MONEY Pound)",0
"ORG will split from conglomerate PERSON on DATE as one of the most efficient players in its sector, but while its new chief talks of export-led growth, the outlook is clouded by the threat of litigation against tobacco firms.
ORG is GPE's ORDINAL-biggest tobacco firm after ORG. Its brands include ORG, PERSON and Superkings cigarettes as well as GPE and ORG cigars.
It is CARDINAL of CARDINAL arms of the mighty ORG conglomerate being spun off into separate companies.
In DATE since ORG took over ORG, it has slashed costs, cut its brands to CARDINAL from CARDINAL and raised productivity by PERCENT. Its DATE profits were MONEY (MONEY) on MONEY (MONEY) of sales.
But analysts fear that despite ORG's impressive track record, its shares could face a rough ride once listed in GPE.
DATE saw tobacco stocks hit by a backlash in GPE, with fresh litigation plus tough new curbs from President PERSON to regulate the industry.
So far, ORG has borne the brunt. But some analysts believe it is only a matter of time before the GPE scenario widens its impact and is repeated across the LOC.
""If it happens in GPE, it's subsequently followed in other countries,"" said PERSON, analyst at ORG.
""Imperial could have been a ripe international takeover candidate. But the litigation threat means a group buying a tobacco company would have a tough time selling the idea to shareholders now,"" he said.
UBS analysts agree that the threat of legal action is enough to dampen the company's outlook.
But they warn of another possible dampener on the stock when ORG starts trading -- its heavy reliance on GPE, largely seen as a mature market. GPE accounts for PERCENT of profits, say analysts.
ORG has already committed itself to overseas expansion, but there are fears it will have a tough time muscling in on the GPE giants, which have already made inroads into the markets of DATE - GPE, GPE and LOC.
PERSON, ORG's chief executive, told the GPE-based ORG newspaper DATE that he believed the group would continue to build up exports to LOC and LOC.
""Worldwide this industry is buoyant,"" he said.","ORG will provide an update on its strategy for electronic commerce on DATE and will also unveil new partners and show examples of projects already in the works.
Electronic commerce is a now widely-used buzz word in the computer industry that refers to buying and selling goods and services or conducting transactions over computer networks.
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 on what ORG would be discussing, except to say ORG will provide an update on where it is now and where it is going in electronic commerce.
Top executives from ORG's ORG unit, its Internet division and its just-announced ORG unit will be hosting a press 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 that is co-developing an auto-loan application on the Internet.  
ORG will also unveil and demonstrate an application targeted to the petroleum industry, a Web site called ORG, that will let energy companies share geographical information over the Internet, to aid in their oil exploration searches.
The computer giant is also expected to add CARDINAL new retailers to its EVENT, its online shopping site on the Internet.
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.  
Earlier on 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 or not ORG will make much money from services and transactions, of which it will get a piece.  
For example, in its FAC consumer retailing site on the Internet, ORG receives a start-up fee from its vendors and it gets a PERCENT commission from its retailing partners on sales and a DATE maintentance charge.
""What they are trying to do is build a recurring revenue stream,"" said PERSON of ORG. ""They are trying to get into as many aspects of network computing as they can.""
Some analysts said that, of all ORG's electronic commerce ventures, the FAC site is the least likely to succeed, because it does not add a great deal of value, other than the convenience of not leaving your home to shop.
""Malls on the Internet are not what people want,"" said PERSON's PERSON. ""If they want a mall, they want products grouped together by categories, say like shoes, so they can comparison shop...The Internet itself is like a whole mall, where a lot of different things are already grouped together.""
Other recent Internet shopping mall efforts have failed, such as ORG ORG.
ORG is hoping its technology such as Net.Commerce and Net.Commerce Payment software, will provide an easy-to-use and secure way of conducting credit card transactions and help end consumer fears about using credit cards over the Internet.",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.","ORG said DATE it will launch its ORG/SI sports news service on DATE, DATE after the debut of another sports news television channel from rival media conglomerate ORG
ORG executives meeting reporters said ORG/SI would combine the television apparatus of ORG and the sports expertise of ORG, a DATE sports magazine published by ORG since DATE.
In a bid to reach wider audiences when various all-news services are scrambling to secure channel slots on GPE's crowded cable-television systems, the executives said ORG would simultaneously carry a nightly sports news programme being delivered to ORG/SI subscribers. ORG reaches CARDINAL GPE homes.
ORG, ORG and ORG were among CARDINAL advertisers that have signed on with ORG, the executives said.
ESPNEWS, majority owned by ORG, began service on DATE.
Both services compete against ORG, a TIME sports news service owned by ORG unit ORG, PERSON, and a subsidiary of ORG
ORG, in alliance with ORG, DATE launched the all-news service ORG to compete against ORG, part of ORG since the DATE takeover of ORG also recently launched a general news TV service and is fighting in court to secure a channel slot on ORG GPE cable systems delivering television to CARDINAL homes and FAC.
All business news channels are also about to increase in GPE. ORGamp; ORG and ORG is scheduled to launch a business news and sports channel in GPE. ORG and ORG already operate all-business-news services throughout GPE.",0
"Insurance group ORG on DATE blamed competition and bad weather in GPE and GPE for a sharp fall in trading profits for DATE.
But despite continuing pressures on margins, ORG chief executive PERSON said there were bright spots.
The company had seen some hardening of premiums in selected sectors and regions such as NORP motor insurance, and difficult conditions in GPE had not been as severe as had some commentators had forecast.
Trading profits for DATE, however, were down PERCENT at MONEY (MONEY), before restructuring costs of MONEY.
Pre-tax profits including investment gains dropped to MONEY from MONEY DATE. Worldwide general insurance premium income was broadly unchanged at MONEY.
The figures were broadly in line with market expectations and ORG shares were trading MONEY higher at MONEY by TIME.
The dividend payout for DATE was raised by PERCENT to MONEY per share.
ORG said the results were achieved amid continuing competitive pressure, abnormally bad weather in LOC and adverse weather and continuing subsidence costs in GPE.
But finance director PERSON told ORG that the group expected premiums in the motor and household insurance markets to strengthen in DATE although commercial rates were expected to continue to be weak.
""In GPE household during DATE we saw a rating environment where prices were going down. The particularly cold spell at DATE will have reminded people not to underprice household and we would expect DATE to be flattish or slightly positive,"" said ORG.
ORG said it wanted its business to grow organically and by acquisition. But it was not prepared to overpay and was determined to write for profit, not volume.
The results included a ORDINAL CARDINAL provision for the integration of the ORGamp; General business and fundamental restructuring of the NORP insurance business. ORG said he believed they had achieved a great deal in effectively positioning the group for the future.
A new management structure was set up at DATE and cost savings in DATE would equal this DATE's MONEY of exceptional charges.
Those charges are expected to cover all the costs required to complete the restructuring over DATE.
There will be some facility closures and further staff losses to come, said ORG, but he declined to put an overall figure on the number of likely layoffs.
The company said it continued to withdraw from non-core, non-performing markets and had CARDINAL objectives -- greater attention to customer needs, greater focus on the cost base and increasing return on shareholders funds.
It continued to target increases in premiums only in sectors and regions where it was confident of profitable growth and acceptable underwriting margins.
""Where we have a strategic benefit from being in a market segment, then we will use our market presence to ensure we get the rate we require over the medium term. In the shorter term we will walk away from certain business if we can't get the right rates,"" said ORG.
($ = MONEY)","GPE's ORG said on DATE it was setting up a new business grouping, ORG, to tap the potential of private banking, long-term savings and investment markets.
The unit will bring together asset management company Gartmore, life insurance and pensions unit ORG and ORG.
Private banking unit ORG will join the new arm in DATE following the completion of a restructuring process.
ORG group chief executive PERSON said the new business offered ""potentially very strong growth"" for the group.
""It's a market with major growth potential because of demographic changes, people's need to save for sickness and old age,"" he said in an interview.
""It's an area where we've put a fair number of the building blocks in place over DATE, particularly DATE, when we bought Gartmore and integrated it with our own investment management company.""
NatWest Wealth Management will have funds in excess of MONEY (MONEY) under management.
It will be positioned to offer a comprehensive range of products and services to clients, ranging from the private investor through to the most sophisticated pension fund sponsor.
PERSON, chairman of GPE, GPE's ORDINAL-largest fund manager, which ORG acquired in DATE, will be chief executive of the new unit from DATE and will report directly to ORG.
Myners said the businesses in the new group were already well-established and successful and together represented a ""substantial force in the provision of long-term savings and investment products"".
Wealth management was a significant market for the group's future and the creation of a dedicated sector represented a logical progression of its strategy, said ORG.
It was also looking to ensure it got the best out of combining the Gartmore and ORG brands and making use of the groups' distribution channels to independent financial advisers (IFAs).
""Cost savings were essentially in the integration of Gartmore and ORG investment management which took place DATE. The benefits are really on the growth side; the income, not the cost side of the business,"" ORG said.
""It has no negative implications for headcount. We genuinely think this is a growth opportunity where we're growing together some interesting businesses both in terms of distribution and fund mangement.""
He said that DATE investment in Gartmore was the principal building block from outside needed for the move and that it was now substantially a case of organic growth, building the distribution channels and capitalising on the other strengths of ORG UK and PERSON. ($MONEY Pound)",1
"ORG agreement to buy a consumer finance business fell apart DATE after the auto-loan company said phony bookkeeping entries had inflated its earnings and it had fired its chief accountant.
At the same time, the officer blamed for the overstated earnings may be cooperating with federal authorities.
ORG said it terminated its agreement to sell its ORG unit to ORG for CARDINAL shares of ORG stock. When the deal was announced on DATE, the stock was worth MONEY.
ORG stock has not traded since it closed at $MONEY on ORG on DATE. The ORG would not indicate where the stock might open but traders said it was changing hands at $MONEY overseas. That would make the CARDINAL shares worth MONEY.
""ORG DATE informed ORG that recent events regarding ORG constituted a breach of the provisions of ORG's agreement for the exchange of shares of ORG for shares of ORG,"" ORG said in a statement.
Analysts said ORG, a GPE-based banking company, would have little trouble finding another buyer for ORG, its auto financing arm.
""At the time they were structuring this deal there were CARDINAL other firms that expressed interest or made bids on ORG,"" said PERSON at ORG.
""I don't think they're going to get the kind of sweetheart deal they got with ORG,"" she added.
A ORG spokesman declined to comment on the deal.
But the spokesman said the company was interested in talking to PERSON, the controller who ORG said had disappeared but who is reportedly cooperating with federal authorities.
A ORG news wire report quoted PERSON's attorney as saying PERSON had accused ORG of a charade and that the controller had not disappeared but was cooperating with the authorities.
The attorney was not available and his assistant would not confirm the accuracy of the ORG report.
A spokesman for the GPE attorney's office in GPE declined to comment.
ORG said on DATE earnings would be restated to MONEY from MONEY and that earnings for the DATE would also be adjusted downward, though not as sharply.
The problems appeared to stem from unauthorised entries in financial records by its chief accounting officer, PERSON, who the company said had been fired.
ORG 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.
ORG said DATE that the ORG was seeking more information. ORG spokesman PERSON said the exchange wanted ""additional assurance that the numbers in the release DATE were reliable.""
GPE said he did not know if the Lake Forest, Ill.-based finance company would issue additional information.
ORG also got hit by CARDINAL lawsuits charging it violated securities laws.
Filed in federal court in GPE on DATE and DATE, the lawsuits alleged the company and some senior officers misrepresented or omitted crucial information about ORG earnings for DATE, lawyers who filed the suits said in statements.
Also, ORGamp; ORG cut its debt rating on the company's commercial paper and said it may cut the rating further.","ORG chief financial officer PERSON said DATE that an increase in GPE dealer new machine inventories at DATE was intentional.
""It's higher than it was DATE and that's by design,"" ORG said in an interview with ORG. ""As it turned out DATE, we didn't have enough inventory in dealer hands and DATE we will, we hope,"" he said.
Some analysts expressed concern DATE at the increase in inventories.  
The Peoria, GPE-based heavy equipment maker DATE reported record net income of MONEY or $MONEY a share for DATE, up from MONEY or $MONEY a share DATE and $MONEY ahead of consensus estimates.
But the company's outlook that the DATE profit level would ""approximate"" that of DATE appeared to be pushing the stock lower DATE.
Oberhelman defended the company's view of slowing GPE economic growth in the face of analysts' comments that the view was too conservative.  
""We're trying to call it as we see it,"" he said. ""I will tell you that DATE, we called for a softer economy in the GPE and it didn't happen. We were pleasantly surprised.""
He added that the company is prepared to increase production if demand is stronger than expected, as it did in DATE.
After focusing DATE on improving operations, ORG said the company now thinks it's time to increase spending on research and development and on capital assets to improve shareholder value in the future.  
Total capital expenditures were MONEY in DATE and are expected to rise PERCENT in DATE, while research and development is expected to rise PERCENT from the MONEY spent in DATE, ORG said.
""It's going to be a little bit of everything,"" he said when asked if the expenditures would be focused on acquisition or internal development.
He said the company is likely to continue its pace of CARDINAL new or upgraded product introductions DATE.
CARDINAL area the company is looking to gain in is power generation equipment, a MONEY worldwide market ORG sees tripling in DATE.
""We'll still be building there, both internally and through acquisitions,"" he said.
ORG shares were down CARDINAL at DATE DATE.
(GPE newsdesk CARDINAL DATE)",1
"GPE's decision to take legal action to ban Resale Price Maintenance (RPM) on non-prescription medicines is likely to boost competition and could benefit some stores in terms of market share, analysts said on DATE.
""Anything that actually causes prices to fall is not good news (for retailers), but for those wanting to increase market share it will mean more people coming through the stores,"" said CARDINAL share analyst who asked not to be identified.
Office of Fair Trading head PERSON said in a statement earlier that he would seek to remove RPM from over-the-counter (OTC) medicines, because ""there are good reasons for believing that it is time to end price-fixing.""
RPM allows manufacturers to set minimum levels for sale of certain over-the-counter medicines. ORG, which lobbies on behalf of pharmacies, said its removal could mean the closure of CARDINAL in CARDINAL local outlets.
The ORG's request goes to ORG which is unlikely to be able to consider the issue before DATE, PERSON told a press conference.
Retailers therefore did not appear to be about to start an immediate round of price cuts.
Chemist and beauty products store chain ORG said it was disappointed at the decision and believed that RPM ""operates in the public interest.""
Boots has not reduced prices of such medicines during a long-running inquiry into price-fixing and industry sources said it was unlikely to take that route in the near future.
ORG, a pharmaceuticals wholesaler and retailer, said removal of RPM would be ""immaterial to...profitability,"" while EVENT, the high street chemist chain owned by PERSON, welcomed the move but ruled out immediate price cuts.
Supermarket retailer ORG, which has led the campaign over DATE to have RPM removed after successfully lobbying for it to be withdrawn from books, also welcomed the ORG's decision, saying it could save consumers 300 million pounds (MONEY) on DATE healthcare products.
But it said its stance on prices would not change.
""RPM is still in place, we are still in the same situation we were in DATE and we will still be in it DATE,"" a spokesman said.
ORG is currently refusing to sell PERSON, a painkiller produced by ORG, and large packs of indigestion treatment PERSON, after it baulked at manufacturers' price increases.
It has launched a range of CARDINAL own-brand OTC medicines and vitamins selling for CARDINAL the price of branded equivalents, and says they have helped it extend market share.
Also on DATE, ORG said it was launching an initiative to help support local pharmacies, shops which chief executive PERSON told ORG television he had no wish to see put out of business.
Share analysts said that removal of RPM on non-prescription medicines could see specialists such as Boots increasing market share, reflecting events after ORG was taken off books when specialist retailer ORG Smith increased market share.
""PERSON got stronger, increasing market share through promotions and using muscle with suppliers. I expect the same will happen to Boots - it'll get bigger and stronger,"" said PERSON of MeesPierson.
Boots shares dipped on the news and stood at CARDINAL-1/2p, down CARDINAL, by DATE ORG. ORG was up MONEY to MONEY while PERSON was down MONEY at MONEY. ($MONEY Pound)","The stock of media group PRODUCT closed sharply higher DATE as takeover speculation swirled on a report, which was later denied, that broadcaster BSkyB might be planning a bid in the wake of announced management changes.
Pearson shares closed MONEY (MONEY) higher at ORG ($MONEY) after earlier touching a high for DATE of PRODUCT ($MONEY), as CARDINAL shares changed hands.
""The price was boosted DATE by the management change but now it reflects revived bid speculation,"" said CARDINAL analyst, referring 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 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 that 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 PERSON appointed PERSON to be chief executive from DATE -- the ORDINAL female head of a company represented in the key FTSE CARDINAL share index. It also named PERSON its new 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 (MONEY) jump in the stock price on DATE as hopes emerged that she might reorganize the sprawling media company.
So far, PERSON appears to be keeping her options open, analysts said. ""There is no real evidence yet that she would consider any demergers (spin-offs) and it is open to question whether such a move would bring shareholder benefit,"" one said.",1
"ORG may be hard-pressed to top an aggressive and pricey bid for ORG unleashed DATE by rival ORG
The ORG Southern $100-per-share offer came DATE after ORG agreed to acquire ORG in a cash and stock transaction valued at MONEY, or MONEY per share.
""This (ORG) bid comes without any regulatory risk, is all cash and is higher. So it's CARDINAL - a knockout punch versus the old bid,"" said PERSON of ORG.  
At the very least, ORG will likely be forced to change its cash-and-stock offer to an all-cash bid if it wants to stay in the game, railroad and merger experts said.
""WORK_OF_ART bid is a very high bid. It's a rich premium and an attractive deal for ORG shareholders. I don't know if ORG will be able to come up with an all-cash bid,"" said PERSON of ORG.
ORG bid did not completely surprise Wall Street because the GPE-based railroad DATE had expressed concern about the proposed ORG-Conrail transaction.
But some were startled by the nature of its offer.  
ORG bid aims to lure Conrail investors by offering immediate payment for their stock. It would then place the shares in a voting trust until the deal closes.
""The ORG offer takes the risk away from (ORG) shareholders. You've got to be impressed with that,"" said CARDINAL takeover stock trader.
Under DATE ORG agreement, ORG shareholders would be required to authorize the tender of PERCENT of ORG shares for placement in a voting trust. The rest of the shares would be exchanged for stock at a later date and would be subject to market fluctuations.  
Shares of ORG, which said it will review the ORG offer, soared CARDINAL to CARDINAL.
The bid by ORG represents its ORDINAL attempt to buy the railroad that was formed by ORG in DATE out of the remains of CARDINAL bankrupt entities. Rumors about ORG interest in ORG have surfaced on Wall Street periodically ever since it unsuccessfully tried to buy the railroad from the government in DATE.
""They're not usually very aggreesive from a financial point of view, but they've been keeping their balance sheet clean for a long time,"" Hatch said about ORG.  
ORG and ORG are eager to capture ORG's valuable LOC presence amid widespread industry consolidation.
DATE, ORG bought ORG  for MONEY after losing a fight for ORG, which was won by ORG for MONEY in DATE.
But unlike those acquisitions in which the target was viewed as a weak market player, ORG is considered to be a much stronger railroad - a factor that could limit any potential cost savings or benefits to the successful bidder.
""ORG and GPE were both not doing well and there was a lot of turnaround opportunity. ORG is not sick. It's not a big turnaround situation and this is not a cheap price,"" said ORG.","ORG DATE revised its takeover agreement with ORG to give shareholders more cash in the proposed railroad merger valued at MONEY.
The new terms immediately drew fire from investors who said the value of the cash-and-stock deal remained well below that of the rejected offer from unwelcome bidder, ORG
GPE-based ORG, which announced its original offer on DATE, said its board had considered the merits of the rival bids and reaffirmed that a merger with ORG was a superior strategic combination, despite the higher offer from ORG.
""Our CARDINAL companies have now agreed to significantly increase the value to be received by the ORG shareholders, and ORG's other constituencies will continue to get tremendous benefits resulting from the ORG merger,"" ORG Chairman PERSON said in a statement.
A source close to the companies said the ORG board met until TIME and the CARDINAL companies then hammered out the new agreement in TIME of DATE.
A merger of ORG and ORG would create one of the largest transportation companies in the world, including a rail system with QUANTITY (QUANTITY) of track in CARDINAL eastern states.
Under the revised offer, GPE, Va.-based 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 each, or MONEY compared with the original pact of MONEY, market sources said.
ORG has offered to pay $MONEY a share in cash, or MONEY, for all of ORG's outstanding shares.
ORG Chairman PERSON said the company's decision to raise its cash offer followed an analysis that identified MONEY in cost savings in a ORG-Conrail combination -- MONEY more than originally anticipated.
""Clearly, the combination of ORG and ORG provides the best overall package of benefits to our constituencies, including customers, the communities we serve, and the public-at-large,"" PERSON said.
But ORG stockholders expressed opposition to the deal in a conference call with investors and Wall Street analysts. They said the new terms effectively offset recent erosion in ORG's stock price and do not significantly raise the value of the transaction.
""Some of the shareholders were really angry and said this was being crammed down their throats,"" said CARDINAL expert on takeovers who listened to the conference call.
Other sources who participated in the call said several investors threatened to tender their shares for $MONEY and then vote against the proposed merger.
In addition to the price of the ORG deal, investors were also unhappy with a DATE extension of the time in which ORG is locked into the deal. The revised pact says ORG cannot withdraw or agree to a competing bid before DATE.
""It's an outrage. This thing is now locked up tighter than ever,"" said another participant.
PERSON, meanwhile, reaffirmed its offer and said it was reviewing its options.
Wall Street analysts said they expect ORG to raise its bid for ORG in an effort to ignite more shareholder unrest with the proposed ORG merger.
They speculated that ORG could raise its $MONEY per share bid by PERCENT without hurting its balance sheet or the benefits of a merger.
""If they raise their bid, it will be the icing on the cake. It will take a bid that is superior and widen the gap further,"" said PERSON of ORGamp; Co.
""I think the price is getting rich, but I think there is at least a CARDINAL chance they come back CARDINAL more time,"" said PERSON of ORG.
In addition to the new terms, ORG also canceled its shareholders' meeting scheduled for DATE and said a new meeting would be held in DATE.
It also said that, under the amended terms, ORG's tender offer's expiration date and withdrawal and proration rights were extended until DATE.",1
"The Montreal Canadiens, the most storied franchise in ORG, were engulfed in sale rumours DATE, which drew a fierce denial from its owner, PERSON Ltd.
NORP newspapers reported that a consortium led by former ORG general manager and ORG was assembling a bid for the team, winner of a record 24 Stanley Cup championships since DATE.
Citing unidentified sources, GPE's ORG newspaper reported that talks with PERSON had been under way for DATE.
""Don't take this story lightly. There's a very good chance that it could happen,"" wrote sports columnist PERSON, quoting a source at GPE.
Rejean Tremblay, a columnist for the GPE newspaper ORG, reported similar rumours.
PERSON is the sole owner of the ORG and their new arena, the MONEY GPE. It also owns PERCENT of GPE's biggest brewer, PERSON.
""The company has not approached anyone on this subject and no one has approached us. Neither the hockey club nor FAC are for sale,"" Molson Chief Executive PERSON said in a statement.
Analysts speculated that the PERSON and the arena could fetch MONEY.
Savard, who played for GPE from DATE and was fired DATE after DATE as the team's general manager, was unavailable for comment on DATE.
Selling the ORG would be a dramatic about-face for PERSON. The company said DATE the club was a key part of its heritage.
""At the PERSON companies, we have CARDINAL legacy assets, PERSON and ORG,"" ORG told shareholders at the DATE meeting in DATE.
Sports plays a huge role in selling beer in GPE and the PERSON name is intertwined with ORG hockey. Aside from putting its name on a new arena, PERSON is a major sponsor of ORG television broadcasts in GPE.
The PERSON family sold the club in DATE to PERSON, whose cousins control the ORG beverage empire. Molson Cos. reacquired the team in DATE.
Analysts said there had been no hint from PERSON that it was interested in selling the club or arena.","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 programme 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 cancelled 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 rumoured 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.",1
"ORG is beginning to reap the rewards of severing its umbilical to ORG as regional Bells customers flock back.
Lucent's final DATE showed a surge in ORG orders as ageing networks were upgraded for demanding data and multimedia services. Lucent network system sales jumped PERCENT year-on-year to MONEY in DATE.
""It is underpinned by some fundamental demand that could keep it going,"" PERSON, Lucent's chief financial officer, told ORG in an interview.  
One of the motives for ORG's divestment of Lucent was a loss of orders. The ORG, seeing ORG as a big new rival in their local calling areas, shied away from sharing their technological shopping lists with an ORG unit.
""That was a reason for the down DATE,"" PERSON said. Lucent's changed DATE from DATE means DATE only had DATE. The DATE final quarter corresponds to DATE in DATE.
Overall revenues climbed PERCENT to MONEY in DATE DATE, though comparisons are likely to be less favorable DATE.  
""DATE will be good as well, I am expecting, but it will be comparing itself to DATE,"" he said. ""It would be a mistake to expect PERCENT growth again, unfortunately.""
Increased orders have led to the hiring of CARDINAL new factory workers even as Lucent implements a plan to cut jobs overall.
PERSON said the company cut CARDINAL of the CARDINAL posts scheduled to be eliminated from Lucent's CARDINAL workforce by DATE. But with the new hires, net job cuts only amount to CARDINAL.  
The closing of the Phone Center stores, the pruning of product lines and a drop in rental revenues combined to hold back revenues. Still, a host of new products, including a long-range cordless phone and sophisticated answering machines, are being prepared for DATE.
DATE, ""we're going to have PERCENT of a sales in products that aren't on the shelf DATE,"" he said.
PERSON predicted that new products would continue to galvanize the company's performance.  
Voice processing, a MONEY market that is growing at PERCENT a year, would bring products for handling services such as phone banking and voice mail, as well as linking databases and phone systems for telemarketing.
""We'll see an increase in the data focus in our business,"" he said, noting soaring use of frame relay and the Internet.
In business communications, PERSON expected the emergence of a ""voice server"" product in both public and private networks.
Such a product would combine the roles of telephone exchange with a network server just as fiber optic cables now carry a mixture of data and voice, both digitized.
-- ORG 212 859 1712","Rivals the world over will shudder if ORG and ORG merge, marrying ORG's aggressive marketing and quick reactions with the deep pockets and reach of ORG.
Already ORDINAL with a CARDINAL-stop telecommunications shop for multinational corporations, a unified ORGORG would pose an even greater threat in newly competitive GPE markets, analysts said.  
""This is ORG worst nightmare. PERSON (ORG chief executive) will not get a wink of sleep DATE,"" said consultant PERSON of ORG.
The CARDINAL companies on DATE confirmed market rumors that they were considering a merger and would make an announcement by DATE, but gave no further details.
However, a source close to the deal told ORG that the deal would be a cash and stock offer from ORG for ORG, the junior partner in market capitalisation.  
No price has yet been agreed upon, the source said, but analysts are speculating on $MONEY a share which would value ORG at MONEY, and leave BT with a bill for MONEY for PERCENT of the company it does not already own.
""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 to PERCENT for ORG, but both are also entering the MONEY local calling market.  
There they will meet CARDINAL regional ORG, once a legal challenge to the DATE Telecom Act is resolved. The act was designed to let long-distance and local companies compete in a unified market place.
""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 brokers ORG.
""It would allow ORG to go after the GPE local market with a fury that the Baby Bells have never seen,"" PERSON said.  
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.
One conundrum is the ORG/News Corp media joint venture. ORG would end up with ORG's PERCENT non-voting stake in ORG, which could cause regulatory problems for ORG in the NORP media market.
However, elsewhere it would provide a deep fund of capital for global markets where communication and entertainment are gradually fusing, analysts said.  
""BT has a hell of a strong balance sheet, that's for sure,"" said PERSON, an analyst at brokers ORG.
Some analysts said the timing was perfect, calling President PERSON's bluff before the DATE election. ""Wonderful timing isnt it?"" said PERSON, president of consultants ORG.  
He said that with the GPE bashing LOC over freeing air routes and opening markets such as that of ORG in GPE, it will now be tested on how open the GPE market itself is to a foreign company like ORG, whose home market is fully open to competition.
Dzubeck said that ORG would be able to unify the global strategy and sort out some of the problems in concert, their global multinational business venture with ORG and make sure those problems are not replicated elewhere.
CARDINAL competitor to ORG, ORG got an unexpected boost on DATE from the news of the merger talks.
ORG's stock rose CARDINAL to CARDINAL, with analysts saying an expected $MONEY per share value for ORG, would allow investors to focus on the long-term value of the network ORG is building too. -- GPE  CARDINAL 859 1610",1
"The NORP government on DATE approved rules for a tender to sell a stake of PERCENT in the financially troubled jet aircraft maker PERSON a.s. to a strategic partner.
Prime Minister PERSON told a news conference after a cabinet meeting that the tender is open to both domestic and foreign investors, despite hints from some ministers that the sale might be geared toward domestic companies.
The winner is to be announced on DATE.
The NORP chemical and arms conglomerate ORG a.s. has shown an interest in PERSON, as well as ORG in an alliance with NORP air carrier PERSON a.s., and local trading company PRODUCT a.s..
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.
State-controlled shareholders approved a cut in PERSON's basic capital DATE to CARDINAL crowns from CARDINAL, and to subsequently underwrite a rights issue to raise equity to CARDINAL and CARDINAL crowns as a part of the deal.
ORG said the criteria approved by the cabinet include that Aero will not pay out dividends until production of new ORG starts, and that the investor has to pay most of the price of the shares from his own assets, not on credit.
He said a commission would be set up to consider bids, including representatives of the privatisation agency ORG (ORG), ministries of interior, industry and trade, foreign affairs, defence, finance, and other officials.
Section Director at ORG, Pavel Stejskal, told ORG that ""PERCENT stake was available"" for the tender.
He added that the chosen investor would underwrite a new share issue.
ORG said the state would keep at least a PERCENT stake in the future.
PERSON a.s., majority owned by the ORG, holds PERCENT stake in PERSON, while the state-owned bank PERSON s.p.u. has PERCENT, while the banks IPB a.s. and  ORG Banka a.s. have PERCENT respectively.
-- Prague PRODUCT, CARDINAL-2-2423-0003","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 FAC airport, north of GPE, CARDINAL shipbuilders presented their own version of combat ships with the ability to hide and deceive the enemy.
GPE's ORG on DATE unveiled its design for the futuristic PERSON corvette.
""We believe it has the potential to make other vessels of its class obsolete,"" PERSON, ORG's manager of future projects shipbuilding, told a news conference at the ORG exhibition, which gathers the world's navies.
BAeSema, a joint venture between ORG and GPE's ORG, presented its PRODUCT corvette 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.
Unlike DATE, designed for patrolling regional waters, the NORP ship is a full-scale deep-water frigate.
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.
Built in flat, angular shapes, stealth warships are ""platforms"" for weapons and detection systems.
ORG uses a slab-sided superstructure and non-metallic materials to confuse radar. The ORDINAL of CARDINAL ORG-class ships ordered by GPE entered service DATE, while GPE has also ordered the NORP ship.
The NORP are in hot pursuit with their own designs for a new generation of stealth vessels.
""We believe this is the warship of the future and all warships will need to use these techniques,"" ORG PERSON said. ""We have made it difficult to detect, classify and engage with a missile,"" he told the news conference.
LOC design puts the distinctive clutter of mast, radar dishes and aerials inside flat-sided towers and has shaped topsides, rather like diamond facets, to make it hard for radar 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.
BAeSema is showcasing its low angular PRODUCT patrol vessel, which uses low-acoustic waterjet propulsion instead of traditional noisy engines which are easily picked up by sonar.
The basic Cougar ""hull-in-the-water"", excluding weapons and other systems, costs CARDINAL sterling (MONEY), according to PERSON, the craft's designer.
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 integration of radar, communications and defence provide the added value.
BAeSema would act as prime contractor while the ship would typically be built in the customers' own shipyards.
""We're going for indigenous building and procurement, which would be a more cost-effective solution and involve ownership at an earlier stage"" PERSON said.
LOC NORP delegations have shown interest in both the LANGUAGE and PERSON, company executives said. ""We view that part of the world as a very important market,"" PERSON said.
Strong economic growth and regional rivalries particularly over natural resources and territorial waters have fuelled an arms race in LOC.
NORP defence electronics group ORG is the prime contractor for ORG under PRODUCT 1 and CARDINAL contracts signed with GPE.
($MONEY ORG)",0
"The growing business of doing business on the Internet poses a major challenge to tax collectors, but no special taxes should be imposed in cyberspace, the government said in report released DATE.
""ORG believes that these new technologies should not be used to justify new taxes,"" the ORG draft report said. ""Accordingly, ORG is not considering any type of value added tax, 'bit tax,' or other new excise tax on electronic commerce.""
Instead, the current system should evolve to tax income from all sources in a consistent manner, the department said.
""Our overall tax policy goal in this area should emulate policy in other areas -- maintain neutrality, fairness and simplicity -- a policy which serves to encourage all desirable economic activity new and old,"" the report said.
Businesses are already struggling with tax proposals from state and local governments, according to PERSON, head of sales and transaction tax practice at ORG.
""State governments don't feel the same way as the federal government, but this report may be a good starting point for discussing all the issues,"" PERSON said.
DATE, MONEY of goods and services will be sold online, growing to MONEY by DATE, according to market researchers at ORG.
But the myriad tax laws and regulations affecting businesses may not keep pace with the fast-paced, often chaotic growth of the worldwide computer network.
Buyers and sellers on the Internet can be in different states or even different countries, complicating the task of collecting tax at the ""source"" of a transaction.
The department also said it was worried that tax evaders could use the anonymity provided by the Internet as a mask to avoid reporting income or to transfer money to offshore bank accounts.
But the report made no recommendations about how the government should deal with tax evasion issues. ""ORG intends to study, and requests comments on these issues,"" the report said.
The report is available on the ORG's web site, http://www.ustreas.gov.
The report on taxation is likely to be followed by reports on other aspects of online commerce that the department is studying, including consumer protection, electronic money, bank regulation and law enforcement, officials said.","A group of leading trademark specialists plans to release recommendations aimed at minimizing disputes over Internet address names.
ORG is working on a white paper that will be completed in DATE, PERSON, co-chair of the association's Internet issues committee, said in a telephone interview.",1
"Shares of ORG fell sharply DATE for a ORDINAL consecutive session amid concern that the ambulance company was 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.  
Shares of ORG tumbled CARDINAL to CARDINAL by TIME DATE. The stock dropped CARDINAL points 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 skepticism, 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.  
STAT ORG provides staffing for hospital emergency rooms. It also offers outpatient medical services such as kidney dialysis.
""Although the transaction makes sense to us conceptually, this new direction for the company may elicit a wait-and-see attitude from some investors who want to see success ORDINAL in the new venture. Others may question how the disease management division will fit into the puzzle,"" ORG analyst PERSON wrote in a report issued DATE.
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 would be accretive in DATE. It also expects cost savings of MONEY from the merger.
Industry analysts also noted that the acquisition would mark a logical extension of the company's existing services.
""They're taking it beyond just driving you to the hospital,"" said PERSON of ORGamp; ORG","ORDINAL seed PERSON withdrew from the $MONEY NORP Indoor Open on DATE because of a recurring wrist injury.
PERSON, who tore a ligament in his right wrist during the ORDINAL round at this DATE's EVENT, 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 TIME, PERSON cruised to a CARDINAL-3 6-4 victory over GPE's PERSON. During the match he held his wrist several times.
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 plan to qualify for a record ORDINAL appearance at the season-ending ORG championship. He currently trails NORP PERSON for the ORDINAL and final spot in Hannover.
ORDINAL seed PERSON scraped through to the quarter-finals in Ostrava 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.
Although PERSON was ranked CARDINAL for ORG behind PERSON and PERSON, it was clear most fans wanted to watch him.
Barely CARDINAL saw ORG's ORDINAL round against world number CARDINAL NORP GPE. A tournament record CARDINAL watched PERSON defeat PERSON, ranked CARDINAL.
ORDINAL seed PERSON reached the last eight with a 7-6 7-5 victory over British Davis Cup team mate PERSON.",0
"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.","GPE's PERSON DATE agreed to merge with GPE-based mutual fund company ORG in a deal valued at MONEY, creating one of the world's largest investment management businesses.
The combined group will be called PERSON and have MONEY under management. The merger will be paid for with MONEY in new stock and the rest in cash and debt, ORG officials said.
""We are creating a prototype company for the future,"" PERSON, ORG's chief financial officer, said in an interview.
Invesco Chairman PERSON, who will lead the combined group, said it would have ""the scale necessary for success as a financially strong and independent business operating in an increasingly concentrated industry.""
McCullough stressed the deal was a merger of the CARDINAL companies, which would focus on growing revenue but retain their individual identities.
PERSON said it would fund the deal by issuing CARDINAL new shares to ORG shareholders. These would be valued at MONEY. ORG shareholders will own PERCENT of the merged company.
McCullough said another MONEY needed to fund the merger would come in the form of cash and debt.
The merger presented a chance for the CARDINAL companies to use 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 selling its CARDINAL funds through brokers.
McCullough said the cost of the merger was not excessive.
""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. The long-term commitment was underlined by the fact that PERCENT of the combined shares would be held by management.
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 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.
The merger would enhance the group's strength in GPE and lead to cost savings, officials said.
McCullough said the merger must be approved by ORG and ORG shareholders and other approvals were required. The deal should be completed DATE, the company said.",0
"ORG DATE agreed to acquire ORG for MONEY, a stunning move that reunites the computer company with its co-founder, PERSON.
The acquisition will give ORG the software technology it needs to revamp the ORG personal computer, which has lost much of its technological luster to PCs running software from ORG
""WORK_OF_ART has provided the innovation that the industry has been feeding off for DATE,"" Jobs said. ""It's time for someone to come up with innovation to drive the industry forward. Who better than ORG?""
Apple Chief Financial Officer PERSON said the company will pay MONEY, mostly in cash and a little stock, for GPE, Calif.-based ORG. ORG also will pay off ORG's MONEY debt.
Jobs, who founded ORG with a friend in his garage DATE, led ORG through its DATE until he was fired by the company's board in DATE.
ORG said he will come back to ORG part-time to lead an effort to rewrite the fundamental software of the ORG. He will report to ORG Chairman PERSON.
ORG will base much of its next-generation operating system -- the computer program that controls the basic function of the Mac -- on ORG.
ORG's technology will not only provide many of the software bells and whistles that ORG needs to compete with ORG's PRODUCT, but will attract outside software companies to write more titles for the Mac, Amelio said.
""Without question, the technology at ORG was the superior technology, by a significant amount,"" Amelio said.
ORG had been for DATE looking outside for help after having abandoned an unfinished operating system code-named ""GPE.""
The company looked at operating system technology and multimedia software from companies such as ORG and closely held Be Inc.
Amelio said with ORG's existing technology, he hopes ORG will have a new operating system in DATE.
For Jobs, the cheerleader who instilled an attitude in ORG that the company was out to change the world, the merger is another stop in a strange odyssey.
After being fired by his successor PERSON in DATE, he left to found PERSON, which initially made a line of whiz-bang computers.
When ORG ran into financial trouble in DATE, the company dropped its computers to concentrate on software. In DATE, ORG has been selling a line of reasonably successful software for creating sites on the Internet's World Wide Web.
Meanwhile, PERSON helped co-found ORG, a production studio that uses powerful computers instead of drawings. The company made DATE hit ""WORK_OF_ART.""
Jobs said he will continue to run ORG.","NORP clothing retailer PERSON on DATE showed off a PERCENT full year profit rise, breaking all stockmarket forecasts, and said shoppers were happier now than at any time since DATE.
Pretax profits rose to MONEY (MONEY) in DATE from CARDINAL on sales up PERCENT to CARDINAL. The group raised its DATE dividend by PERCENT to MONEY a share.
Chairman Sir PERSON said all the group's divisions had reported an increase in DATE profits.
""This performance reflects the success of the trading strategies and continued brand building in every division,"" he said in a statement.
The retailer has had a long struggle to boost profit margins in what was until recently a depressed retail market. But the group has achieved a major turnaround.
Finance director PERSON said there was scope for more improvement in margins, although at a slower pace.
""There is still some scope for margin improvement DATE, but be it at a lower pace. It will ease back somewhat from where we are at the moment,"" he told ORG.
PERSON described the current trading environment as better than anything seen since DATE, although he said it was certainly not booming.
ORG Debenhams department store chain produced a PERCENT increase in profits to MONEY. ORG said the department store was set for a PERCENT increase in space over DATE.
All the group's fashion stores, including Top Shop and PERSON, made profits. PERSON and GPE both moved back into the black after making losses DATE.
PERSON's shares rose on the better-than-expected results. The stock stood MONEY higher at CARDINAL.
""The figures were at the top end of forecasts and we are still positive on the stock,"" said CARDINAL senior trader.
Analysts had expected pre-tax profit of MONEY.
PERSON has just moved into home shopping via the acquisition of mail order group Innovations in DATE and PERSON in DATE. But PERSON said the main focus of the group would remain with its stores.
""At the moment the focus is on the core retail division where the key oppurtunities lie,"" he said. ""Home shopping is a medium-term project which will kick in in DATE time."" ($MONEY Pound)",0
"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 earlier 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's shareholders had ""to get their act together quickly,"" the executive said.
ORG is a consortium made up of ORG, ORG (BAe), ORG, a unit of ORG and ORG (ORG) of GPE.
The 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"" (GIE) partnership. The aim is to create a more competitive and responsive organisation.  
""The need for the NORP to integrate becomes more urgent,"" the executive said. 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, 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 office are in the southwestern city of Toulouse, 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.
ORG declined comment. ""We can't comment on things happening in LOC,"" an ORG spokeswoman said.
Officials at ORG were not available for comment.  
The ORG negotiations slowed over DATE, when the government moved then-chairman PERSON to the helm of troubled state railway operator ORG and promoted his CARDINAL, PERSON.
A memorandum of understanding was due to be signed by DATE setting out the main lines of the new company, but the industry executive said the talks are due to last through DATE, DATE.
GPE broker ORG has estimated ORG could be worth MONEY after its conversion, based on historical and prospective financial data.  
Previous major consolidation moves in GPE between fierce rivals such as ORG and ORG, and now ORG and ORG, showed all that was needed was the ability to look ahead and for the political will to exist.
The internal debate over the shape and scope of the future ORG has run on for DATE, with managing director PERSON a fervent enthusiast of an integrated company. The new ORG company is supposed to be formed 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 irony is that ORG held merger talks with ORG in DATE, but the GPE firm was stronger in DATE and ORG had not consolidated its position in the world market. The NORP company has historically held around a PERCENT share of the market, with ORG PERCENT and ORG.","Television executives have tentatively agreed to rate shows based on their suitability for kids of different age groups, industry sources said DATE, disappointing advocates of a ratings system that would specify the level of sex, violence and bad language.
The new ratings system is expected to be completed by DATE and would be similar -- but not identical to -- the DATE system now used by the motion-picture industry.
ORG (MPAA) code uses letters and numbers -- G, PG, PG-13, R and NC-17 -- to suggest the age groups for which a film is appropriate.
The TV industry executives, meeting privately since DATE, rejected a system backed by children's advocates and educators to rate shows based on content -- sex, violence and language.
An industry source said that approach -- now used by cable network ORG -- would be unworkable for the CARDINAL of shows on broadcast and cable TV and would fail to deliver a uniform standard across the various broadcast and cable networks.
Individual networks or syndicators would rate their shows.
""It's just too hard to have uniformity,"" said the source.
The ORG system, ORDINAL devised in the DATE, offers content-based ratings such as ""MV"" for ""mild violence,"" ""ORG"" for ""strong sexual content"" and ""AL"" for ""adult language.""
Industry sources stressed that the TV ratings system has not been finalised and that details need to be worked out.
Publicly, executives said no agreement has been reached.
""It would be premature to suggest that we've reached any agreement,"" said PERSON, president of ORG.
Once completed, the ratings will be used with a ""V-chip"" that will be installed in new TV sets to allow parents to block shows they consider too violent or racy.
News that a content-based system had been rejected brought protest from children's advocates and others.
""It's very unfortunate. We're going to end up with a system that is not going to be very helpful to parents,"" said PERSON of the Centre for Media Education.
Montgomery, who met DATE with the industry group overseeing the ratings system, charged that the TV executives ""never seriously considered"" a content-based system and that ""their minds were made up from the beginning.""
Representative PERSON, GPE-GPE, the backer of the DATE V-chip legislation, said the ""'V' for violence"" appears to have been ""hijacked."" ""It's time the public joined in a search for the missing 'V' so we can restore it to the V-chip,"" he added.
A survey issued DATE by ORG,  ORG researchers reported that PERCENT of parents polled preferred a content-based ratings system.",0
"A bankruptcy judge DATE cleared the way for GPE construction mogul PERSON to take over storied engineering giant ORG, rescuing the company from near-insolvency.
GPE Bankruptcy Judge PERSON, in GPE, PERSON., approved the prepackaged reorganization plan under which GPE's main operating company will acquire the much-larger PERSON for MONEY in cash, stock and debt assumption.
GPE, DATE, a billionaire through his interests in bridge and highway building, copper mining and shipping, will become non-executive chairman of the GPE, GPE-based company when its merger with ORG becomes effective DATE.
PERSON, a company veteran appointed to be president and chief executive officer DATE after the ouster of its high-flying former chairman, PERSON, will retain those titles in the new company.
The merger requires approval of ORG shareholders, but that is a formality because GPE owns PERCENT of the shares.
The merged company will retain the PERSON name and its GPE heaquarters, but shareholders of the old company -- known for such projects as LOC and NORP oil pipeline -- will be left with little value.
A distribution of stock in the new company was valued by CARDINAL analyst at MONEY a share, compared with MONEY before revelations of losses that stunned Wall Street and led to the ouster of ORG, whose lavish lifestyle had made him a lightning-rod for criticism.
""From a shareholder's point of view it's a pretty bad outcome,"" said the analyst, PERSON of ORG.
Shareholders also get warrants to purchase additional shares in the new company at $MONEY a share, compared with ORG current price of $MONEY. Bondholders will get from PERCENT of the MONEY they were owed, CARDINAL banker said.
Executives say the new company will be profitable from the outset, with revenues estimated at MONEY and net income at MONEY for its DATE beginning DATE, according to bankruptcy court documents.
That compares with revenue of MONEY and net income of MONEY in DATE, before the company reported losses that totalled MONEY over DATE.
Analysts traced PERSON woes to a disastrous forway into railroads, including huge losses on bids to build new commuter transit cars, a business the company has exited.
Agee's ambitious plan to build new locomotives from the ground up never materialised, and its minority stake in ORG is being distributed to bondholders.
Agee himself, who once used a corporate jet to shuttle between PERSON and his company-bought estate in GPE, GPE, was forced to give up some of his lucrative pension and severance benefits in a MONEY company settlement of class-action shareholder lawsuits.
The new ORG will get PERCENT of its revenues from CARDINAL businesses -- industrial construction for Fortune 100 companies, heavy civil construction, and environmental remediation, mainly for government agencies, ORG said in an interview.
""Dennis very much wants this to be a well-balanced, diversified company,"" ORG said.
PERCENT of the company's business is mining.
GPE, who usually stays behind the scenes at his companies, will help set strategy at the new ORG but will not have a day-to-DATE role, ORG said.
PERSON Chairman PERSON, who was brought in DATE and is best known for helping to engineer ORG turnaround in DATE, will be vice chairman of the new company. The other vice chairman will be GPE aide Dorn Parkinson.","ORG is expected to report a sharp slowdown in earnings growth DATE due largely to a sales surge DATE when the software giant launched its PRODUCT operating system.
On average, industry analysts expect the company to post earnings of MONEY a share for DATE, up PERCENT from DATE MONEY, according to ORG, which tracks earnings predictions. In DATE ORG reported net income of MONEY.
Analysts generally said the GPE, Wash.-based company would post revenues in the MONEY range for the period that ended DATE, up from MONEY.
While ORG's growth rate is still healthy, and results are expected to be slightly higher than in DATE, the company is facing difficult comparisons after DATE, when revenues and earnings grew PERCENT.
""It's a tough comparison because in DATE was the initial release of Windows 95 and all the sell-in associated with that, so it was DATE,"" said PERSON of Hambrecht and ORG.
But he and other analysts said ORG's business was continuing to expand steadily, benefiting from rising sales of personal computers and the increasing penetration of Windows 95 and the more lucrative Windows NT system.
ORG's already-high profit margins also are rising as the company sells a growing proportion of its software by preloading it onto new computers or selling licenses to large customers rather than shrink-wrapped boxes at retail stores.
ORG's business is expected to gain momentum through DATE as the recently updated EVENT wins more acceptance and the company rolls out a major new version of its ORG software package beginning in DATE.
For DATE, analysts see earnings and sales up PERCENT over DATE.
""I think NT will really start ramping in DATE and in the ORDINAL part of DATE,"" said PERSON of PERSON. ""It's going to be a very powerful driver of earnings.""
CARDINAL cloud on ORG's horizon is the imminent arrival of a wave of ""thin client"" products such as ORG championed by ORG Chairman PERSON.
DATE, ORG is expected to launch a line of products code-named ""Mr. PERSON"" based on the increasingly popular PERSON, which is being positioned as an alternative to the ""Wintel"" combination of ORG PRODUCT operating systems on ORG processors.
While corporate users are not rushing to desert their personal computer networks, the increasing publicity about alternatives could hurt ORG's stock price, which was off $MONEY DATE at $MONEY in afteroon trading on ORG but still up PERCENT so far DATE.",1
"Chad held much-delayed multi-party parliamentary elections on DATE but there was little enthusiasm in the sprawling and volatile NORP nation for its ORDINAL round of voting in DATE.
Some polling stations in the capital opened late as voting materials were not ready for the scheduled TIME (CARDINAL ORG) start. Few queues formed in the shimmering heat of DATE and those that did were small.
Some opposition candidates denounced incidents of fraud but the CARDINAL or so international observers reserved judgment and there were no immediate reports of electoral unrest in the majority NORP nation with a lively southern NORP minority.
President PERSON, the former northern guerrilla leader who seized power in a NORP-backed coup in DATE, paid tribute to PERSON's democratic progress after voting in the capital.
""We have made a non-negligible step in the democratic process set up in DATE,"" he told reporters.
Others took a different view. ""Turnout will be low because people know the fraud apparatus is still in place and nothing much will change,"" said former national assembly leader PERSON, a defeated presidential hopeful.
CARDINAL candidates from CARDINAL parties contested the CARDINAL seats in the national 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.
After repeated electoral delays, PERSON won a multi-party presidential election in DATE after a run-off 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.
A total of CARDINAL people were eligible to vote on DATE in the nation on the fringes of LOC. CARDINAL nomads started voting on DATE.
ORG ORG, leading member of the CARDINAL-party ORG coalition, started favourite to win or to be able to cobble together a working majority after the poll.
The opposition, which called a boycott of the presidential runoff alleging ORDINAL-round fraud, has a CARDINAL-party coalition.
Election issues tended to be local or ethnic but diplomats said that all parties were looking for a fair distribution of any wealth from oil, which is expected to come on stream by DATE. PERSON has CARDINAL ethnic groups.
""Oil is really what is at stake. NORP and NORP differences have calmed,"" CARDINAL diplomat said.
""It does not take much to make people feel better off,"" Alingue said. ""We don't want to see the money vanish abroad.""
Polls were to close at TIME (CARDINAL ORG). Election officials expected provisional results within DATE and final results by DATE, once the appeal court had checked them. Any run-offs will be held on DATE.","ORGamp; ORG expects marketing and administration costs in DATE to be only slightly up or flat versus the DATE level, marking a slowdown from a DATE jump of PERCENT.
The line item ""may be up PERCENT, but certainly below the growth rates we showed in DATE,"" ORG chief financial officer PERSON said in an interview.
ORG's gross profit margin declined again in DATE, partly due to increased marketing costs for launching new products, such as the anti-schizophrenia drug PERSON.  
Zyprexa is one of a handful of new, higher-margin products that will begin to lift sales in DATE, but a margin trend turnaround is likely further off, PERSON said.
""I think it's going to be sometime DATE. I'm not sure it's in DATE,"" Golden said of improved margins.
Gross margin has declined for DATE.
Other than that, analysts greeted ORG's DATE results with a positive tone.
""I didn't see any real big surprises in these numbers,"" said ORG drug industry analyst PERSON.  
ORG's DATE operating profits of $MONEY per share, versus $MONEY per share in DATE, were precisely in line with Wall Street expectations, said ORG analyst ORG.
The company said an PERCENT sales gain was led by the anti-depressant PERSON, the human insulin PRODUCT and increased revenues from ORG unit.
Shares in ORG were up CARDINAL to CARDINAL on DATE after the GPE-based drugmaker reported an PERCENT gain in DATE earnings over the DATE period.  
In DATE, ORG said, ORG will likely lose a small benefit to earnings per share stemming from a decline in outstanding shares versus DATE. That benefit, caused by the split-off of ORG DATE, boosted DATE earnings by PERCENT.
""We will lose that in DATE ... You're talking a penny or CARDINAL per share,"" he said.
In DATE, the company will also lose a small boost to earnings from a lower tax rate that lifted DATE earnings slightly compared with DATE.
--Chicago Newsdesk 312-408-8787",0
"ORG president PERSON said the proposed acquisition of ORG is not expected to face antitrust problems and should fuel earnings in DATE of the transaction.
""The market shares are still low even when you look at the category breakdowns,"" she said in a telephone interview.
ORG, the nation's largest toymaker, earlier announced plans to buy ORDINAL-place ORG in a stock transaction valued at MONEY. The combined market share of the companies would be PERCENT of the overall toy market.  
PRODUCT said the deal includes a topping fee of MONEY, which would payable to ORG if another company lured ORG with a higher bid.  It also calls for a break-up fee of MONEY if the transaction were not completed within DATE.
The transaction is expected to be completed in DATE.
ORG declined to specify anticipated cost savings associated with the transaction, saying ""there are a lot and they cover many categories.""  She also said it was too early to assess the potential impact of the deal on ORG's workforce.  
PRODUCT said she approached ORG about a transaction on DATE in a solitary meeting with ORG chief executive officer PERSON.  Representatives of both companies met again on DATE.
The proposed transaction would significantly boost ORG's position in the boys' toy market - an area that it sought to expand DATE with an unsolicited bid for CARDINAL toymaker ORG.  However, ORG was forced to withdraw that offer after its proposal ran into fierce opposition on antitrust grounds.
""We really believe that the boys' toy business is a very important one.  We have never had big market share in that category,"" ORG said.
Any overlap in specific markets is not expected to be large enough to create antitrust concerns, ORG said.
For example, she noted ORG's Hot Wheels holds a PERCENT market share position in the ""wheels"" toy category and ORG holds a PERCENT stake with ORG.
""It's very fragmented,"" ORG said, adding that the wheels category will become even more crowded as ORG emerges with a new product line.","The NORP government faces CARDINAL of its most difficult decisions in choosing how to diversify natural gas supplies now coming solely from GPE, Industry and Trade Minister PERSON said on DATE.
""It is going to be one of the toughest decisions of this cabinet,"" ministry spokesman PERSON quoted Dlouhy as telling ORG PERSON, the visiting NORP Minister of Foreign Trade.
Dlouhy has said he would submit CARDINAL options for securing gas supplies in the future, but declined to detail them before the material is debated by the ministers. He has said that GPE would remain the dominant supplier.
But a source at his ministry, who asked not to be named, confirmed on DATE a story in the NORP DATE PERSON which listed the CARDINAL options:
* Purchasing all natural gas from Gazprom, using CARDINAL different shipping routes, with a long-term agreement until CARDINAL, with price guarantees until DATE.
* Purchasing some NORP gas indirectly through NORP company PERSON, and GPE' Wintershall, a subsidiary of ORG.
PERSON would start supplies in DATE, delivering QUANTITY in DATE, with agreement lasting until DATE. In case of fallout of NORP supplies, it would deliver its own natural gas through NORP, a joint venture of GPE (PERCENT) and Gazprom (PERCENT).
Wintershall offers a similar scheme, with deliveries starting on DATE, rising to QUANTITY in DATE, under a deal until DATE.
Negotiations with these firms are in the stage of initiating an supply contract.
* Finalising and maintaining the agreement for NORP gas, which has already been preliminarily approved DATE, until DATE.
* A limited purchase from U.S.-based ORG, GPE's ORG und ORG), and ORG plc.
""But we do not want to connect this decision with political issues like our relations with ORG or ORG.""
The Czechs have ended their dependance on NORP crude oil by building a new pipeline to GPE, but are still completely dependant on supplies provided by GPE's Gazprom.
The senior official from ORG ministry told ORG that the issue would most probably be debated by the council of ministers, which should come up with a recommendation to the full cabinet, ""in DATE, probably DATE"".
Government representatives have held talks on limited deliveries from GPE, which according to a preliminary agreement should start in DATE.
The Czechs consume QUANTITY of natural gas per year, but volume is expected to rise to CARDINAL by DATE.
The preliminary agreement, which was initiated by NORP state-owned importer GPE with GPE's GFU gas negotiating alliance in DATE, expects eventual growing of the potential supplies to QUANTITY per year in DATE.
ORG said PERSON told Minister PERSON Weele that CARDINAL option included involvement of NORP companies in future supplies, and the minister said her country could provide ""confidence and reliablity guarantees"" for the supplies.
The spokesman, who declined direct comment on the CARDINAL options presented to the government, said PERSON told the NORP minister the NORP ""priority is to diversify, but we will keep a balanced relations with the NORP side at the same time"".
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"GPE-based freight forwarding company ORG is considering opening an office in GPE to take advantage of ORG growing international network, ORG managing director PERSON said.
Until now, ORG NORP operations which started DATE have been concentrated in the north with freight forwarding operations in GPE, GPE and GPE, PERSON said. ORG new MONEY, QUANTITY warehouse near GPE airport is on schedule for completion in DATE and PERSON said he sees new potential just across the border from GPE where the company was established DATE.
""If GPE is to have foreign flights then eventually other foreign carriers will fly into GPE. It should save the trouble of trucking cargo down from GPE to GPE and we are investigating opening an office there,"" PERSON said.
Industry observers said GPE-based ORG has invested in a new fleet of ORG PRODUCT aircraft to begin transcontinental services to LOC and the west coast of the GPE and ORG is among a group of many well known freight forwarders who are eyeing the potential new market. Recent GPE press reports said ORG is starting a GPE-GPE-Amsterdam service DATE and planning additional services to GPE and GPE DATE. No one at ORG could be contacted for confirmation.
""We are just awaiting a start date for ORG new LOC flight,"" PERSON told ORG in an interview here.
PERSON said the licensing procedure to start operations, especially to gain a Class one licence which allows freight forwarders to hold a stock of airway bills, will take time and patience.
""A proper licence in GPE took DATE to achieve so it is DATE yet but we would like to go into GPE and a ORDINAL step would be to set up a liaison office in the near future,"" PERSON added. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017","GPE is expected to end DATE without loosening its DATE tight credit policy as rampant local fixed asset investment continues to threaten economic over-heating, analysts said on DATE.
DATE, GPE seemed poised to modify the austerity measures, but a surge in fixed asset projects since DATE has led GPE to change its mind, they said.
In the latest high-level clue to credit policy, Vice-Premier PERSON was quoted by the official media on DATE as saying there was a need to strictly control new fixed asset investment projects.
""There is the need to continue to curb inflation and strictly control new industrial projects,"" PERSON was quoted as saying during a recent visit to the eastern coastal province of GPE.
ORG, mouthpiece of the ruling ORG, on DATE also criticised a rush by provinces to invest in high-profile industries, citing CARDINAL provinces that had listed car production as CARDINAL of their key industries.
""There is still the threat of a resurgence of inflation and of the economy over-heating with fixed asset investment climbing again since the central bank cut bank interest rates DATE,"" said a GPE-based official with ORG (ORG).
Growth in retail price inflation is expected to slow to PERCENT year on year in DATE against PERCENT DATE.
Official figures show that local governments around the country have allowed CARDINAL new fixed asset investments since DATE.
GPE's ORG estimates that fixed asset investment will hit MONEY (MONEY) DATE, CARDINAL times the level of DATE.
""The resurgence of fixed asset investment in DATE seems to have made the central bank more cautious about loosening credit,"" a banker with ORG said. ""The most important signal is that the much-discussed bank reserve ratio cut now seems to be off the near-term agenda.""
In DATE, PERSON, president of ORG, said the central bank would shortly cut bank reserve ratios by a margin possibly as large as three percent. This would release huge amounts of money into the market.
NORP banks and other financial institutions are required to place PERCENT of their deposits with the central bank and keep QUANTITY themselves as reserves.
DATE, central bank officials talked frequently about cutting the bank ratios, which were set DATE and have never been changed.
""But now they are focusing on the need to continue the austerity measures,"" said an analyst with ORG. ""The main concern is the large amount of money in the system beyond the direct control of the central bank.""
GPE's central bank has direct control of the CARDINAL major state banks -- the ORG, ORG, ORG and ORG.
Credit supplied by the CARDINAL banks once accounted for PERCENT of total loans but this proportion has now shrunk to PERCENT and is still falling.
Analysts said the impact from a cut in bank reserve ratio could be balanced by other policy controls such as the credit quota system.
But the bulk of money liberated from other banks and financial institutions would inevitably enter the markets with the central bank being unable to directly intervene.
($MONEY = MONEY)",0
"ORG is in talks with ORG on a multi-million dollar deal to purchase naming rights to the football team's proposed new stadium in downtown GPE, ORG Chairman PERSON said DATE.
The deal, expected to be signed in DATE, comes as little surprise, since the ORG are owned by ORG board members PERSON and his son, PERSON
Trotman, speaking to reporters following a ORG board of directors meeting at the automaker's GPE, GPE, headquarters, said reports that ORG would pay MONEY for the rights ""aren't far off"" from the deal ORG is discussing with ORG team.
Trotman said the company wants to have exclusive rights with the ORG name prominently featured on the domed structure, but has not yet decided on a specific name.
""It would be big-time ORG something -- we don't know what -- either ORG or Ford Dome,"" PERSON said.
PERSON, who holds the ORG board's purse strings as chairman of its finance committee, abstained from board discussions of the project, as did his father. The new stadium project is largely viewed as the younger ORG's brainchild.
A contribution of MONEY would help the MONEY domed stadium meet a major financing hurdle -- the ORG face a DATE deadline to gain committments for MONEY in corporate and private contributions.
The proposed CARDINAL-seat football stadium would be built near DATE next to a new MONEY, open-air ballpark for ORG on the edge of downtown GPE that would seat CARDINAL people.
The ORG would leave ORG in suburban GPE, GPE, where they have played for DATE, but have pledged to honour terms of their current lease, which expires in DATE.
The CARDINAL-seat Silverdome, opened in DATE at a city-financed cost of MONEY, would become the youngest major league sports facility in GPE to be replaced with a new venue.","GPE ORG (ORG) is increasing its flights to ORG in GPE from DATE from the present CARDINAL, the carrier's chief operating officer PERSON said in a statement.
""Our services to GPE and ORG are a good example of how ORG is spreading out and serving the region. Since we started GPE in DATE and ORG in DATE both have been very successful and we are increasing frequencies on both these routes to cope with demand,"" he added
CARDINAL of ORG's current fleet of CARDINAL ORG PRODUCT will be used for the extra frequency, a spokeswoman added.
On DATE, ORG said ORG had signed a contract an order for CARDINAL more A320s, plus options for CARDINAL others along with the lease of another ORG PRODUCT.
The new planes will be used to cope with further route expansion to GPE and other NORP destinations, especially when GPE new round the clock airport opens in DATE time, industry sources said.
--Air Cargo PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017",0
"GPE's Big Six banks are cruising toward MONEY (MONEY) DATE profit with strong earnings from CARDINAL banks and buoyant profits expected from GPE's CARDINAL other largest banks DATE.
ORG and ORG -- the number CARDINAL and CARDINAL banks respectively -- cracked the MONEY (MONEY) mark DATE.
ORG fell short of MONEY club, but GPE's ORDINAL largest bank still turned in DATE.
The profit parade continues when ORG and ORG deliver their results on DATE and DATE respectively.
""They will have whopping earnings. They will be record earnings, rest assured,"" PERSON, a banking analyst with ORG, said on DATE.
ORG, the smallest of EVENT, also reports its earnings DATE.
ORG, ORG and ORG posted double-digit increases in net income DATE -- with strong growth in personal, corporate and investment banking. The earnings so far have been in line with analysts' forecasts.
""There were no surprises. Just really solid quarters from everybody,"" said ORG analyst PERSON.
The banks' investment, brokerage and mutual fund businesses enjoyed DATE as financial markets soared in DATE.
ORG investment arm. RBC Dominion Securities Ltd, has already posted a record profit. ORG said on DATE its earnings jumped to MONEY (MONEY) in DATE, up from MONEY (MONEY) DATE.
""In addition to CARDINAL major mergers...each of our CARDINAL global businesses turned in strong performances contributing to record results for DATE,"" said ORG president PERSON.
ORG recently completed its MONEY (MONEY) purchase of brokerage firm PERSON, and merged some operations with parent ORG.
CIBC's investment unit is also expected to post bullish earnings when the bank reports its results DATE.
Analysts said earnings growth for LOC is expected slow in DATE, particularly if bond and stock markets cool off.
However, ORG expects the boom to continue. ""The current low level of interest rates should result in increased economic activity in GPE in DATE and the gradual return of consumer confidence,"" said ORG president PERSON.
More dividend hikes are possible DATE following increases at ORG and TD.
Scotiabank raised its payout by MONEY (MONEY) to MONEY (MONEY) a share, its ORDINAL increase of DATE. TD boosted its dividend by MONEY (MONEY) to MONEY (MONEY) a share.
""I would be astonished if CIBC did not increase its dividend at this time,"" said Palmer. CIBC last raised its dividend by MONEY (MONEY) to MONEY (MONEY) DATE.
ORG said there is less pressure on ORG and ORG to raise their dividends now, but an increase may come in DATE.
Improved credit quality also contributed to bottom lines of GPE, ORG and ORG.
All CARDINAL banks reported lower loan loss provisions for DATE. TD surprising analysts with a deeper-than-expected drop in its provision to MONEY (MONEY) from MONEY (MONEY) in DATE.
Analysts said loan losses for the Big Six appear to have touched bottom and are expected to creep higher DATE.","Shares in ORG slipped on DATE as the stock market reacted negatively to the appointment of a relatively little-known insider as chief executive of the NORP media group.
PERSON, currently chief executive of ORG that is CARDINAL owned by PRODUCT, will succeed PERSON as chief executive at DATE.
PERSON, who is a non-executive director, becomes deputy chairman now and will take over from PERSON as chairman at ORG's DATE meeting DATE
The appointment of PERSON ends a long period of uncertainty over the succession to PERSON, DATE, who had said he planned to retire by DATE.
But the market greeted her appointment with scepticism, with market players saying they knew little about her. The shares fell to a low of MONEY, but later recovered to CARDINAL for a loss of MONEY.
""The market was looking for a big hitter and she wasn't the big name it was looking for,"" one market-maker said in reference to Scardino.
The market was also worried by a report in the GPE newspaper that said PRODUCT had resolved concerns about the tax implications of selling its stake in NORP satellite broadcaster BSkyB but faced difficulties separating direct and indirect holdings.
The report said ORG's indirect stake of PERCENT was worth MONEY (MONEY) at BSkyB's current share price.
PRODUCT, which has a market capitalisation of MONEY, is a sprawling media and leisure company with interests ranging from the ORG business newspaper to television soap opera.
Analysts have criticised the company for a lack of a clear strategy and it has long been seen as a potential bid target.
Scardino said she was excited to be joining PRODUCT.
""It is one of the few companies positioned strongly enough to take advantage of the opportunities in the rapidly changing, digital-driven international marketplace.""
PERSON, who has been chairman of ORG since DATE following a DATE stint as chief executive, said in statement the appointments completed the succession process at PRODUCT.
PERSON, who has been chief executive for DATE, had agreed to extend his contract for DATE after his retirement date in DATE in order to help implement the group's strategy to focus on the media sector.
""I think ORG's future is very favourable and PERSON is a very good appointment,"" he told ORG.
Scardino, DATE, has been chief executive of the Economist since DATE, before which she headed its NORP operations.
Prior to that, she was partner in a GPE, GPE law firm and publisher and founder with her husband of WORK_OF_ART, ORG.
PERSON is chairman of aircraft leasing group ORG and is also a non-executive director of ORG, ORG and ORG ($MONEY Pound)",0
"Investment bank ORG reported on DATE a record result for DATE, and started DATE optimistically.
ORG, which is PERCENT owned by ORG (ORG), reported a PERCENT rise in ORDINAL half net profit to MONEY in DATE of CARDINAL.
""This was a very solid ORDINAL half result and CARDINAL which reflects more even contributions fom business groups across the bank,"" executive chairman PERSON said.  
""Although it is too early to make a forecast, we are optimistic about the second half,"" ORG said.
While the 1995/96 second half was very strong, he said the bank was hopeful it could at least match the result.
""There has been nothing to change that view following the trading for DATE.""
Managing director PERSON said the equities, treasury and commodities group accounted for most of DATE rises.
""The ORG and ORG ORDINAL half result is the best since the formation of the group in DATE,"" Moss said.  
""The strong result in ORG reflects good performances from institutional and corporate stockbroking and underwriting,"" Moss said.
Moss said the near PERCENT increase in profit from its stockbroking arm, ORG, was due partly to an increase in market share, but mainly due to market volume.
ORG's ORG division, which manages ORG, also had a good result, ORG said.
The bank was currently very active right across all its operations, PERSON said. ""We are busy right across the board. There is a lot of activity in all our operations,"" he said.  
ORG said total operating income rose to MONEY in DATE, from MONEY DATE.
The GPE government-owned ORG became ORG's largest shareholder after it bought ORG PERSON PERCENT stake for MONEY DATE.
ORG's chairman said there had been a good reaction to the link with ORG.
""We have had a very positive reaction from a number of existing clients, particularly in southeast LOC. I think it has been widely acclaimed in southeast LOC that it would lead to more business in the region,"" ORG said.  
PERSON, which listed in DATE, reported a net profit of MONEY in DATE, up from MONEY DATE.
ORG said ORG had no plans to return capital to shareholders or to make a takeover due to its high capital adequacy ratio (CAR). ORG's CAR was PERCENT at DATE, down from PERCENT at DATE.
This ratio compares with ORG minimum requirement of PERCENT.
""As far as any prospect of share acquisition or buy-back, we have nothing in mind yet,"" ORG said.  
""I think it is the nature of our business to have a capital adequacy ratio that is higher than the trading banks because we are very dependent on counter-party limits from other banks, they in turn are quite dependent on ratings...it is a healthy capital adequacy ratio and I think we can expect to be well and truly above the basic minimum,"" ORG said.
At TIME (CARDINAL ORG), ORG shares were MONEY lower at A$MONEY with CARDINAL shares traded in a generally weaker NORP sharemarket.
The shares listed on the local bourse in DATE at A$MONEY.
-- ORG newsroom CARDINAL-2 9373-1800","A planned sale of NORP television maker ORG to GPE ORG for MONEY has sparked a political backlash against the government's privatisation plans.
The government wants to sell electronics group ORG to the ORG conglomerate, which would sell the loss-making ORG to ORG while keeping ORG, the defence electronics subsidiary.
The leader of ORG, PERSON, told GPE CARDINAL state-owned television on DATE he was ""shocked"" by the ORG privatisation.
""This was a public sector firm and concerned the national interest. It has been privatised for ideological reasons"", he said.
""I was shocked by the method, which was despicable and perhaps even illegal as the DATE (privatisation) law specifically called for the parliamentary privatisation committee to give a supporting opinion,"" he said.
PERSON, former president of ORG, told a conference in GPE on DATE, ""I would have preferred to maintain a NORP pole in consumer electronics.""
On DATE, NORP business newspaper ORG added to the controversy by reporting that a NORP businessman, whom it did not identify, was preparing a bid for ORG to keep the company NORP.
The report said it was only after the government declared its preference DATE for ORG's bid over a rival offer from ORG that authorities realised ""the value of the gift it (the state) was making to ORG.""
A ORG spokesman declined to comment on the report of a ""white knight"" bidder.
A ORG spokesman said bids had closed in DATE and if investors were interested in GPE, they would have to negotiate with ORG after it had bought the firm.
Jospin said NORP President PERSON and Prime Minister PERSON were allowing the sale of ORG to ORG, which would reap the benefits of NORP state financing for the group's digital technology.
""Thanks to state finances, it will be able to take up a strong position in the digital (television) market and be profitable from DATE,"" PERSON said.
PERSON is set to make big profits in DATE, when revenues from technology licences will contribute MONEY (MONEY) DATE. The licences were acquired when ORG bought ORG of GPE from ORG in DATE but only revert to GPE after DATE.
""We are not hostile to a foreign company taking control of ORG as it follows an industrial and economic logic,"" a spokesman for the ORG association of employee shareholders said.
But, he added, it was a pity the state had not played its part as a shareholder to recapitalise the group earlier.
A source close to ORG said the group's financial situation was untenable as its share capital was insufficient to sustain its debt and that it was in dire need of fresh funds.
But the government is tightening its belt as it cuts public spending to meet tough requirements to join the single NORP currency by DATE. The PERSON privatisation was also launched as part of the government's consolidation of the defence industry.
The ORG unit, the world's ORDINAL-largest TV maker, reported a loss of MONEY in DATE. It has invested heavily in digitial television technology and is a leader in television decoders, as well as a being a member of ORG consortium.
The chairman of the NORP company, PRODUCT, has said he is ready to invest MONEY in GPE and create CARDINAL new jobs if he wins ORG.
($MONEY French Franc)",0
"The semiconductor industry's key indicator of computer chip demand rose in DATE to its highest level DATE, reflecting a stronger-than-expected increase in new orders.
ORG said DATE the NORP book-to-bill ratio, which measures the value of orders against shipments, rose to CARDINAL in DATE from a revised CARDINAL in DATE. The ratio means manufacturers received $MONEY in new orders DATE for every $MONEY in shipments.
Industry analysts had expected the ratio to inch closer to breakeven with most estimates averaging around CARDINAL.
New orders for chips rose to MONEY, a PERCENT increase from DATE, and shipments inched upward to MONEY, or PERCENT above DATE's level.
""From any perspective, these are the most positive numbers we've seen DATE,"" PERSON, director of information systems and finance for the association, said in a statement. ""The modest increase in orders for DATE and DATE suggest DATE slowdown in growth has bottomed out.
The ratio, a leading indicator of future demand tallied by the industry trade group, has been improving recently, reflecting an increase in orders by personal computer makers and more stable prices for memory chips.
""People are buying PCs as if there's no tomorrow,"" said PERSON, an analyst at ORG in GPE. ""We're having a PC-led recovery in the chip industry.""
Analysts predicted the better-than-expected ratio would likely send shares of key technology stocks higher on DATE.
In after-hours trading, shares of ORG, the world's largest chipmaker, rose MONEYMONEY and shares of ORG, a key supplier of memory chips, jumped MONEY to $MONEY.
Prices of memory chips, or DRAMs, plummeted over the course of DATE to a fraction of what they were in DATE. Because memory chips make up PERCENT of the unit volume of semiconductors shipped in DATE, their prices have had a big influence on orders and sales measured in dollars.
But since DATE, memory prices have risen PERCENT from their lows.
The DATE ratio marked the highest level since DATE when the index hit CARDINAL. DATE it stood at CARDINAL.
ORG said DATE that memory chip inventories were down to desirable levels from formerly excessive levels.
Worldwide, the ratio rose to CARDINAL in DATE from CARDINAL in DATE. Global figures include LOC, LOC, LOC and GPE and are DATE behind NORP figures. The GPE book-to-bill ratio rose above CARDINAL.
PERSON PERSON said he was particulary impressed by the rise in LOC, which had a ration of CARDINAL.","NORP Prime Minister PERSON said on DATE that there was no reason to hurry the privatisation of the country's CARDINAL largest banks.
""(The privatisation) does not have any exceptional level of urgency,"" ORG told a news conference after a cabinet meeting.
He said the cabinet would wait until the central bank submitted a more complete plan to the cabinet for the privatisation of the remaining state shares in the large banks.
""It is irrelevant if it is DATE or DATE sooner,"" ORG said.
The central bank and the finance ministry have both called for the rapid privatisation of the state's CARDINAL stake in GPE a Postovni Banka a.s. to a strategic foreign partner.
GPE-based investment bank ORG and ORG are both said to have a strong interest in the ORG stake.
ORG, the central bank, also has called for the merger of the largest savings bank ORG GPE a.s., with the foreign trade bank ORG a.s..
If the merger goes ahead, forming a bank with MONEY crowns (MONEY) in assets based on DATE results, the plan would be to privatise the new megabank DATE.
Klaus has balked at the merger plan, saying that it was akin to merging GPE's CARDINAL top soccer clubs, GPE and GPE, which would be hard for NORP to imagine.
The prime minister has reacted favourably in DATE to news that ORG was keen to buy the state's stake in ORG.
At the news conference ORG bristled at a series of questions on the subject by foreign news agencies. When asked specifically about the timing of ORG's privatisation ORG said: ""I don't know if this is the question of some lobbyist who wants to buy some bank fast, or really the general interest of a journalist.""
""From the point of view of the ORDINAL (case),"" he continued, ""then I think that a party interested in buying or who instigates you into this question is probably in a hurry.""
-- Prague PRODUCT, CARDINAL-2-2423-0003 ($MONEY NORP PRODUCT)",0
"GPE's cash-strapped public broadcaster, the ORG, cut CARDINAL jobs on DATE in an overhaul that might eventually include on-air fund-raising drives and corporate sponsorships.
ORG -- faced with a MONEY (MONEY) reduction in government subsidies -- told CARDINAL employees that they would be laid off.
The layoff notices were part of a plan announced in DATE to scrap CARDINAL jobs through layoffs, voluntary departures and the elimination of vacant positions.
The ORG also set a target of CARDINAL job cuts in DATE.
""Without doubt, DATE will be tough. However, we have some sense that on the financial front the worst may be over,"" PERSON, vice-president of ORG television, said in a letter to employees.
The ORG, which provides television and radio services in LANGUAGE and NORP, previously announced other measures to pare CARDINAL from its MONEY (MONEY) budget by DATE.
The NORP government contributed CARDINAL of the ORG budget in the past, but the government's huge budget deficit forced deep cuts in funding for the ORG.
CBC unions said the job cuts would result in an inferior product for NORP taxpayers.
""There's shock. There's anger. These are people with DATE of experience who will walk out the door and never come back again,"" said PERSON, a spokesman for ORG, which represents CARDINAL ORG workers.
On DATE, the ORG said ORG -- GPE's voice to the world -- would close DATE due to a lack of government funding.
To offset shrinking federal subsidies, ORG President PERSON said DATE that the broadcaster may use on-air fund-raising drives and corporate sponsorships.
Beatty recently visited the GPE-based GPE public television network ORG, which holds fund-raising campaigns and receives MONEY from NORP viewers.
""It's something that is under discussion as we speak,"" said ORG spoksman PERSON, adding that the ORG board had not made a final decision.
To boost revenues and ratings, the ORG relied on popular GPE television shows and major sporting events in DATE. But some ORG purists complained that the broadcaster had forsaken its mandate to promote and protect GPE's identity from the GPE cultural behemoth.
In DATE, PERSON said ORG would return to its NORP roots by eliminating GPE shows from prime time and day-time schedules by DATE.
NORP will also see more advertisements on the ORG, including commercials for the ORDINAL time on its flagship TIME news show, the ORG.","Investors were on edge on DATE, anxiously awaiting the outcome of talks between GPE's ORG and ORG aimed at forging a deal on GPE's huge Busang gold deposit.
As a DATE deadline slid by, PERSON and ORG said they were still trying to work out several issues, leaving the market to speculate about the status of negotiations.
""Several points remain outstanding,"" PERSON spokesman PERSON said. ""An overall deal has not been reached.""
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 asked to consider giving the NORP government PERCENT in the rich find.
As the clocked ticked, PERSON issued a statement saying no new deadline had been set by ORG.
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 by 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 C$MONEY ($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, if passed, would be 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 partner 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.",0
"Mutually-owned life assurance company ORG on DATE rebuffed a takeover bid worth QUANTITY MONEY (MONEY) from NORP retail banking group ORG.
ORG said it would pursue its own plan, announced DATE, to shed its mutual status and seek a stock market flotation in DATE time.
""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,"" ORG chief executive PERSON said in a statement.
The PERSON offer, which surprised the market and sent its shares up MONEY to CARDINAL, includes a minimum of MONEY to policyholders in cash or PERSON shares and an immediate investment into the funds of CARDINAL with-profit policyholders of CARDINAL one billion pounds.
Despite the rejection by ORG, the GPE, GPE's ORDINAL largest bank, said it was still hoping to persuade the life assurer, which has MONEY under management, to accept the offer and put it to its policy holders.
""We feel that we can offer something much more attractive to the NORP Amicable policy holders,"" PERSON deputy chief executive PERSON told ORG. ""That's why we really want to talk to ORG and we hope still to persuade them to put this more attractive deal to their policy holders.""
Toner said that the FAC board had not yet had time to stand back and examine the proposals properly.
""They've been working on their scheme for some time and they probably can't consider anything else in their minds,"" he added. ""In truth, they don't seem to want to discuss it at the moment but we hope that they will. It's DATE, there's plenty of time for them to draw breath and talk to us.""
The ORDINAL element of the offer would see ORG invest CARDINAL one billion pounds into the with-profits fund, where the policyholder is entitled to a share of the profits from the growth of the fund.
ORG said the approach from GPE was vague and it was unclear how it was valuing the group. The insurer, based in GPE, GPE, said it intends to publish in DATE time detailed proposals about a twin-phased transformation, involving losing its mutual status on DATE and a QUANTITY flotation in DATE time.
""The start of a growth phase is the wrong time in the cycle for policyholders to put their businesss on the market,"" said PERSON, chairman of ORG.
Later, a spokesman for ORG advisers said there was a ""grave danger of policy holders being misled by the vague terms of ORG pronouncements. They have misunderstood PERSON proposals.""
The spokesman said the benefits to policy holders of the flotation proposal had been conservatively stated and the actual value would be considerably higher.
PERSON's Toner said the NORP Amicable business would be an excellent fit for its NORP Mutual business which it bought in DATE. It has MONEY under management and sells its products through the independent financial adviser (ORG) network.
""We started quite cautiously with PERSON but now it's growing very strongly under our management but as the whole life sector continues to consolidate, we do think it would be good, with the right partner, to link NORP Mutual with something else,"" he added.
Analysts agreed that the businesses would be a good fit and PERSON of ORG said the GPE would have no problem financing the bid with its good cash generation ability. ($MONEY Pound)","The battle for control of ORG became a CARDINAL-way race on DATE as the deadline for firm offers for the mutually-owned life insurer passed.
The company said that it had received CARDINAL initial bids from high street bank ORG and insurance groups ORG and ORG (ORG).
Details of the bids were not released.
While technically the door is still open for other bidders to come in, a source close to the deal said that was ""unrealistic"" at this stage.
Under the terms of the auction process, ScotAm agreed it would make firm offers public if required by a bidder. It said none had asked it to do so.
With the auction effectively a sealed-bid process and bidders unable to see competing offers, there would appear to be little advantage in CARDINAL company giving rivals a target by making public its own proposals.
ORG development director PERSON said the group believed it would be wrong to handicap discussions with ScotAm by conducting them in the ""glare of publicity"".
Both ORG said they had nothing to add to earlier statements.
Discussions with the CARDINAL companies will be held with a view to obtaining final offers by DATE.
ScotAm chairman PERSON said the CARDINAL proposals represented an ""excellent outcome to this phase of the process"".
""We can now move on to the next phase with every expectation of delivering maximum value to policyholders.""
The company said it would not be expressing an opinion on the merits or otherwise of any proposal until the evaluation process was complete. DATE ScotAm asked for firm offers for the company by DATE. It hopes to recommend a single proposal to policyholders by DATE.
ORG was among a ""CARDINAL"" companies which signed confidentiality agreements to gain access to GPE's books but pulled out DATE. ORG has also admitted it ran the slide rule over ScotAm but said it felt the bid premium looked too high. PERSON said ScotAm was CARDINAL of a number of current opportunities which fulfilled the group's criteria. He said the group was looking to acquire NORP and GPE businesses with quality local management, marketing and distribution in place which, with the backing of ORG's financial strength, could deliver ""substantial organic growth"". The auction was sparked by ORG bid for the company at DATE. That came DATE after FAC had released its own proposals to drop mutual status and float on the GPE stock market. PERSON's offer was topped DATE by the ORG's QUANTITY (MONEY) bid, though that figure includes a QUANTITY loan element. Both companies have said that their offers may be raised when they had more detailed financial information on ScotAm.
($ = MONEY)",1
"CARDINAL students and workers from the islands of GPE were adrift in the central LOC on DATE aboard a crowded charter ship crippled by a fire, officials said.
The QUANTITY MV ORG appealed for help on TIME after losing power through the fire in the engine room.
It was found by a ORG Airforce Orion rescue plane drifting CARDINAL kms (QUANTITY) east of the GPE island of PRODUCT with CARDINAL passengers on board.
""The Orion located it TIME and was told via radio that it's in no immediate distress and has enough food and water for DATE,"" Airforce Squadron Leader PERSON told ORG from the ORG's base in GPE, GPE.
""It has partially restored its electric power, but it has no wasy to start its engine,"" Irons said.
An electrical fire in a switchboard in the engine room shut down the ship's electrical systems late on DATE, leaving the converted freighter without power and still DATE sailing from the nearest land.
The ship's charterer, GPE businessman PERSON, said the MV ORG's insurers would pay for another ship to tow it back to PRODUCT.
The QUANTITY (QUANTITY) PERSON was chartered to carry 290 passengers, mostly GPE students and workers, and QUANTITY of cargo to LOC from GPE, PERSON said.
A tugboat was likely to take DATE to reach the stricken ship and DATE to tow it back to PRODUCT, he said, adding the passengers had plenty of food and water to last DATE.
""It's not a problem. If they run out they can easily borrow some of the cargo,"" PERSON told ORG by telephone from PRODUCT, CARDINAL of a group of coral atolls CARDINAL kms (QUANTITY) north-east of GPE.
The cargo included rice and tinned food.
None of the passengers or crew had been injured in the fire and the only problem on board was likely to be boredom given the ship's video players were out of action. ""With no videos, they'll be a bit bored,"" PERSON said.
Most of the passengers were sitting or sleeping under canvas on blankets on the deck, he said.
They would be reduced to playing cards and their guitars until their rescue, he added.
The MV Maasmond is registered in GPE in PERSON and PERSON, according to ORG, and has had engine trouble in the past.
In DATE, it underwent engine repairs for DATE after encountering cyclones on a cruise through the LOC.","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 that exploded in TIME 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 for 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.
""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.
A senior GPE police official said the bomb was a home-made device made 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.
GPE regularly blames followers of GPE's exiled god-king, the Dalai Lama, for NORP unrest that erupts sporadically in the strategic mountainous region that straddles the ORG and runs along GPE's sensitive border with 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 deeply 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.
""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.
Several much smaller bombs have been been set off in GPE over 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.",0
"GPE building bosses and health insiders have warned of dying confidence in privately financed health projects, unless there is rapid acceleration in the number of contracts awarded in DATE.
This industry crisis of confidence comes ahead of DATE's DATE ORG conference on DATE, which will be addressed by the Chancellor of the Exchequer PERSON and health secretary PERSON.  
DATE the government provided a glimmer of hope, however, giving the go-ahead to a MONEY east GPE hospital project won by a venture led by ORG.
But of all the problems in the Conservative government's flagship private finance initiative (ORG) -- aimed at attracting private sector cash for public infrastructure projects -- health has proved to be the biggest headache of all.
The ORG set ORG Secretary PERSON a target of MONEY of projects by DATE.  
The likelihood of that target being reached looked slim until DATE, when the government sought to temporarily silence its critics with its announcement of the ORDINAL major private finance health project -- the east GPE hospital.
Before that, building firms and ORG (NHS) leaders had been apportioning blame for delays on each other and the government as it tried to referee both sides.
NORP junior health minister PERSON defended his department's record in a recent interview with ORG.  
""We are confident of getting MONEY by DATE. If we are able to bring in a CARDINAL project and CARDINAL in DATE then we are almost there,"" he said.
But some construction industry leaders remain downbeat, privately hinting the biggest players in the business will shun future projects for fear of tying up further CARDINAL in a sector which is taking too long to deliver the goods.
""I've heard that around CARDINAL companies are not going to go forward with new bids,"" CARDINAL industry leader said.
Also, some leading ORG (NHS) figures have questioned the value of the policy itself.  
PERSON, a leading adviser to chief executives of ORG told ORG the policy was ""a dead duck"" in health and said the government would have to push CARDINAL or CARDINAL schemes through just to ""save face."" He said ORG had resulted in projects which the NHS could not afford and failed its needs.
Another construction industry leader summed up the crisis of confidence among builders: ""Companies are frustrated with the whole negotiating approach -- I wouldn't say it should be abandoned but the whole process needs radical surgery.""
PERSON, chief executive of ORG was also pessimistic.  
""The big companies have basically had enough. They've spent a lot of money so far and there is resentment that they're being used to pioneer a system which is not working at a time when an industry is still locked in recession.""
ORG has been very slow getting off the ground, both due to red tape and having the ORG as an ""out-of-the-room negotiator' for many of the projects, industry sources said.
Business has been feeding through in other sectors like roads and prisons, but health has proved slow to take off.  
One positive factor is that ORG does have the backing of the opposition ORG, so industry figures are talking to Labour about their problems. A general election is due by DATE, with Labour currently leading in opinion polls.
In the meantime, the health sector problems remain. Another issue dogging confidence in the building sector is the fear that building firms could be saddled with liabilities if an ORG defaults on repayments over the DATE term.
But minister PERSON told ORG the government had changed the law to underwrite that risk. ""This is CARDINAL reason why these projects have taken so long. We got ORG on this in DATE and it makes that commitment inescapable.""
He dimissed claims of disillusion: ""The big boys are competing in ORG. No single project has been left without a bidder.""
-- GPE PRODUCT +44 CARDINAL 7717","The 350 million stg NORP satellite project -- backed by firms from the GPE, GPE, GPE and GPE -- will fire its ORDINAL satellite from a sea platform in DATE, project contractor PERSON told reporters on DATE.
PERSON, which also has a PERCENT stake in the project, is overseeing the construction of the launch platform and control ship, at GPE, GPE and GPE, GPE.  
Boeing Commercial Space Co of GPE, GPE's ORG and the GPE's ORG are also involved in the project.
As well as being a shareholder, PERSON is receiving a CARDINAL stg fee to build the ship and platform launcher.
In Stavanger, NORP project manager PERSON told ORG that launch prices would be ""significantly cheaper"" than those charged by land-based sites, but refused to be drawn further.
ORGamp; ORG has a contract for CARDINAL launches and ORG for CARDINAL.
PERSON will use a converted oil rig called PERSON to fire NORP-made PERSON rockets from a position in the LOC.
The rockets will be transported and assembled on the control ship. The QUANTITY ship, still to be named, will have blast proof safety glass. It weighs QUANTITY and can carry 250 crew. The platform weighs QUANTITY, is QUANTITY long and has room for CARDINAL crew members.",1
"NORP life assurer ORG said on DATE it planned to shed its DATE mutual status in favour of a stock market flotation aimed at taking advantage of opportunities for profit growth.
The ORG-based group outlined plans to float on ORG in DATE time and said it would pay policy-holders an initial special bonus of MONEY (MONEY) after demutualising on DATE.
ORG said pay-outs would be based on the length of time policies had been held by members.
The fist payment would be followed by benefits worth CARDINAL as a result of flotation, which will give the group access to long-term capital, it added.
The group said it expected to have a market capitalisation of MONEY on flotation.
ORG said significant opportunities existed for profitable growth in its businesses. But it said in a statement that to take full advantage ""requires access to external capital in both the short and long term.""
There has been intense speculation that ORG, founded in DATE, would be the subject of a takeover bid but chairman PERSON said the group intended to hold on to its independence.
""Our plans do not include being gobbled up by anybody,"" he told a news briefing.
The group said the process would be in CARDINAL stages. Under the plan, the business, staff and operations of the group would be transferred to a new company, ORG, a PERCENT subsidiary of newly formed ORG.
The ORDINAL stage involves a deal with reinsurance giant NORP Re and its affiliate LOC ""to provide substantial financial backing initially totalling MONEY"".
Under this agreement PERSON existing with-profit fund will receive an immediate cash contribution of MONEY ""from the reinsurance by NORP Re of certain categories of existing policy"".
ORG has committed to invest QUANTITY 45 million pounds in return for PERCENT of a new business fund being set up to transact all new business from the date on which the scheme becomes effective.
NORP Re has also agreed to provide further reinsurance ""expected to reach a level of MONEY over DATE in respect of future new business"".
ORG said PERSON, currently managing director of the group, would become group chief executive of ORG, while PERSON, deputy managing director, will become chief executive of ORG.
Policyholders must ORDINAL approve the plans at a special general meeting expected to be held in DATE. The group said detailed discussions had already been held with GPE's ORG. ($MONEY Pound)","GPE's ORG said on DATE it would be making a ORDINAL CARDINAL provision of MONEY (MONEY) after finding mispricing errors in the interest rate options book of its ORG unit.
The bank said a senior trader had been suspended for ""failure to supervise"", pending the conclusion of an internal inquiry.
A ORDINAL trader, who had resigned from ORG before the errors had been discovered, has been reported to the ORGamp; ORG (SFA) regulator.
ORG said that no clients had been affected by the discovery, adding that ORG was being kept informed.
The ORG confirmed ORG had sent it information which it was now studying.
An SFA spokesman said no statement was planned at the moment.
""Clearly we have to look at the information, assess the situation and decidewhat is the next step foward.""
A ORG spokesman also declined to comment further.
Dealers were left guessing who was behind the transactions that led to the provision or even whether they took place on an exchange or the over-the-counter options market.
ORG, the site for a large part of GPE's options trading, had no immediate comment on the news.
Options are contracts which give buyers the right, but not the obligation, to buy or sell an underlying security at a set price in the future.
Mispricing could arise in various ways, for instance, a broker could be given a price from clients but somehow get the price wrong in executing the trade.
CARDINAL options dealer suggested it could be down to how an individual dealt with issues such as margins on his firm's trades.
""Basically if you're a senior trader or a top person you can actually change prices or positions for margining,"" the dealer said.
One highlight of ORG results released DATE was a PERCENT rise in profits from what it called ""other dealing"" to MONEY.
That was mainly the result of strong increases in rate risk management products, among them interest rate options.
Derivatives markets have been involved in a string of large losses for companies around the world.
While the exact nature of the ""mispricing errors"" is unknown at this stage, the memory of PERSON activities in the derivatives market is still fresh in many minds.
The MONEY losses run up by PERSON eventually led to the collapse of ORG in DATE and its subsequent acquisition by NORP bank ING .
The banking industry attracted more bad publicity DATE after ORG sacked fund manger PERSON after it was discovered he had breached rules on investing in unlisted companies.
The huge bonuses paid out by banks has been cited by some as CARDINAL reason for the high risks some, like PERSON, are prepared to take.
DATE PERSON, a leading figure in the financial services industry and chairman of ORG attacked the payment of large bonuses by investment banks as a ""massive over-incentivisation of personnel"".
He said it had produced an ""excessively materialistic culture"" in the world's finacial markets which had led to a number of financial accidents and would undoubtedly lead to more dramatic catastrophes in DATE to come. ($ = MONEY)",1
"More foreign firms are finally beginning to realise the dream of the GPE market that has long tantalised traders -- selling goods to the world's largest slice of mankind and making money from it.
Many foreign companies remain stuck in GPE ventures that are loss-making and frustrating, but the number turning a profit or at least gaining solid market share is increasing, along with the market, according to analysts and businessmen.
In the DATE since GPE opened its doors to the global economy, the country has become the ORDINAL-biggest recipient of foreign investment funds in the world, after GPE.
Foreign brands such as ORG, ORG and Lux soap have become household names throughout GPE, and the shelves of convenience stores from GPE to GPE are stuffed with foreign brand soaps, chocolates and cigarettes.
PERSISTENCE PAYS OFF
""Overall more and more companies are coming, which is not necessarily to say they're making money yet,"" said a Western diplomat in GPE. ""But there's now a general view that there's not only great potential but also an increasingly good track record for companies that have persisted.""
""You can now see that if you stick it out, you can make money and you can get good market share. ORG is now a household name thoughout GPE,"" he added.
ORG came back to GPE after a DATE absence in DATE, and the company booked its ORDINAL accounting profit for its GPE operations DATE, said PERSON, head of GPE operations.
""You cannot afford not to be in GPE. It's just the reality of opening a country of this size and the size of the economy and population,"" ORG said.
""But it takes a lot of patience and you need to be very diligent to build your business. It's not easy by any means.""
ORG has CARDINAL bottling plants across GPE, and with sales volume doubling DATE this is just the beginning.
ORG declines to say just how profitable the GPE market is. Like most other companies, it does not issue figures on its GPE operations.
MARCHING WITH THE CONSTRAINTS
""You have to march along with the constraints that you're given,"" ORG said.
""The main thing for us was living up to the commitments we'd made on building plants, transferring technology and training people. The more we did that, the longer we did that, the more people would believe and trust us and allow us to expand a little bit more.""
Among the sectors that have done well so far are communications equipment firms, such as ORG and PERSON, and low-priced consumer product makers.
""Generally speaking, the easiest place to make a profit tends to be in the consumer industry, usually fairly small-scale operations,"" said PERSON, director of GPE operations for ORG.
""That is, assuming the deal is done right,"" she added.
There are big variations on market access and ease of business for foreign companies depending on the sector they are trying to storm.
The restraints are few in areas such as consumer products, while in sectors such as banking, distribution and insurance, foreign firms are kept on a very tight leash.
BIGGER INVESTMENT EQUALS BIGGER RISK
Overall, companies involved in high-cost, long-term projects seem to bear a proportionately bigger risk, analysts said.
""Big heavy industry projects are a problem,"" said CARDINAL foreign broker in GPE.
""Generally foreign businesses in trouble have a bad business plan, or they're doing things which GPE is not famous for -- like trying to build aeroplanes or something.""
The automobile industry has seen its share of troubles for foreign firms who have ventured in.
ORG had a famously difficult relationship when it set up a joint venture in GPE in DATE, and GPE's ORG is looking at closing CARDINAL of its CARDINAL GPE plants.
""We're having some difficulties -- all Western carmarkers are having difficulties in GPE,"" said a ORG official in DATE.
ORG, which has been close to completing negotiations for a MONEY automobile factory in GPE for DATE, is well behind schedule on its plans and could have trouble ever making a profit in GPE, according to some analysts.
""It's going to be very difficult for them to make money. But they're coming in because they feel they have no choice,"" said the Western diplomat. ""It they don't do the deal, ORG will.""
GPE and GPE businessman have generally done much better in their investments than NORP, said a representative for a GPE trading group in GPE.
""But more people make money than they would admit,"" he added. ""People find ways to shift profits to GPE or from CARDINAL company to another to make things look like break-even.""
CHOOSING MARKET SHARE OVER PROFITS
Making money is anyway not a top priority for many companies in the GPE market, at least in the initial stages. Many are happy to break even or lose money for DATE in order to gain market share.
The NORP insurance company ORG, for instance, which set up a joint venture DATE, said it doesn't expect to see a profit for DATE.
""Many companies are ploughing everything back into expansion and advertising,"" said a Western diplomat. ""In many cases, headquarters doesn't care if you make money, it's whether you're getting greater market share.""
""If you're a global company you have to be here, and the potential risk of not being here is greater than losing your shirt for a while when you come in,"" said PERSON, representative of ORG in GPE.
Success and failure for a foreign company in GPE is also closely related to who they work with.
""The reasons for people failing are usually related to joint venture problems. Choosing the wrong partner is the source of a lot of difficulties,"" the diplomat said.
But analysts said profits and market share aside, major advances have been made by foreign firms in DATE in the areas of experience and staffing.
""There are many companies now which have a lot of experience of operations in GPE, their staff are more used to operating in NORP ways, and local staff are more used to operating under international practice,"" said ORG' PERSON.
""This should allow them to go forward more positively.""","GPE's aluminium sector will consolidate more in DATE as domestic smelters, perplexed by limp world prices, seek to rationalise costs, a top aluminium official said on DATE.
Igor Prokopov, director of ORG, the producers' group uniting GPE's aluminium industry, said in an interview that domestic smelters were worried about low metals prices, and he blamed what he said was speculation.
""We have been concerned by the sharp fall in prices, which is why we set up the statistical body with other major producing nations to exchange information,"" he said.
""But our conclusion is that the market situation is not a catastrophe. We are not going to stop output and will continue DATE with at least our DATE volumes.""
He said NORP primary aluminium output DATE would be QUANTITY, a PERCENT increase on DATE's level, and DATE production could rise by PERCENT.
The group sees GPE's DATE primary aluminium exports at MONEY compared with CARDINAL in DATE. ORG declined to forecast DATE exports.
ORG said exports of primary aluminium, alloys and semi-fabricated items over DATE had already risen PERCENT from DATE levels.
ORG puts the rise at PERCENT.
ORG said he was confused by low ORG prices and said he saw no basis for weak prices in view of supply and demand patterns.
""I can't prove there's speculation going on, but I look at the charts and these are what the facts lead me to think.""
""Some noise has appeared in the LOC that GPE has cranked things up, which is not really true. There's no reason for the fall in prices,"" he said, citing lower world stocks.
But he said GPE's survival as an aluminium power was not in question, since the NORP smelters, accounting for PERCENT of output, had captive, plentiful sources of hydroelectricity, a main cost in production.
Depressed prices would be the motor for NORP smelters to consolidate operations as they completed their transition from state-run enterprises to market-nimble corporations.
""The NORP aluminium industry should be consolidated and act as a large transnational company like PERSON or ORG,"" ORG said. ""We won't be like Gazprom,"" he said, referring to the natural gas monopoly. ""But there will be CARDINAL teams that will act on world markets.""
The process has already started. PERSON, a so-called financial industrial group, includes ORG -- the world's biggest smelter -- and GPE, ORG, ORG, and GPE's PRODUCT alumina plant.
The GPE smelter is in a group with the LOC alumina plant and wants to bring GPE's PRODUCT alumina plant on board.
""Integration could have a positive affect,"" ORG said. ""It will lead to expense rationalisation, lower costs and consolidated balances. Smelters are in a satisfactory state, but we want better -- we want more resources to modernise them.""
-- GPE PRODUCT, +7095 CARDINAL 8520",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.
Police said CARDINAL demonstrators were arrested for obstruction and would be released on bail TIME.
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 whether PERSON was among those 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.
A panel of CARDINAL chosen by GPE voted for the future leader. None of the rest of GPE CARDINAL people had a vote, causing the democracy lobby to dismiss the process as a sham.
CARDINAL pro-democracy activists demonstrated on DATE TIME and CARDINAL diehards camped out TIME with an imitation tomb in front of ORG.
The ORDINAL thing in the line of sight when ORG members arrived was the 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, shipping magnate PERSON, emerged victorious.
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.","ORG, GPE's largest carrier, plans to increase its international routes DATE and will boost its fleet with the addition of CARDINAL passenger planes, a senior manager said on DATE.
""We would be concentrating on expanding our international routes within DATE DATE plan (DATE),"" said PERSON, general manager of the airline's publicity centre, told ORG at ORG96.
The carrier would be starting flights from GPE and GPE to GPE on DATE, and planned to start routes DATE from GPE to GPE in GPE and to GPE, Zhang said.
The DATE airshow at GPE airport in southern GPE is touted as GPE's largest and costliest aviation and aerospace exhibition to date, bringing together domestic and foreign aircraft and parts producers.
Increasing demand for domestic and international travel since the start of rapid economic reforms has also boosted GPE's civil aviation industry. The country now has CARDINAL passenger carriers.
ORG, established in DATE and GPE's longest-running carrier, currently flies CARDINAL international and domestic routes, PERSON said.
Flights from GPE to GPE would either be CARDINAL times a week, he said, adding that the launch dates for service to GPE and GPE have yet to be finalised.
The airline, which has a fleet of CARDINAL ORG passenger jets, would also be taking delivery of CARDINAL ORG A340 passenger planes and CARDINAL ORG PRODUCT in DATE, PERSON said.
Zhang said the proliferation of NORP carriers in DATE had given way to cut-throat competition.
""Because of competition, some companies have slashed prices. For us, we have cut by similar amounts, "" he said. But he added that the company, given its long and proven track record, was more keen to conduct business based on reputation.
-- GPE (CARDINAL) 2843 6441",1
"GPE's largest listed aluminium producer PERSON reported on DATE a PERCENT slide in net profit for DATE, due to a weaker metal price and a stronger NORP dollar.
The lower than expected result saw metal analysts trim back their DATE profit estimates for GPE, while investors wiped over PERCENT off the miner's share price.
GPE, PERCENT owned by the world's largest mining group ORG, reported a net profit of MONEY (MONEY) for DATE, down from MONEY DATE.
""Lower primary aluminium prices, movements in the exchange rate, softer alumina markets and weaker alumina spot prices affected profit,"" GPE chief executive PERSON said in a statement.
The DATE aluminium contract traded on ORG has fallen PERCENT to its current level of US$MONEY from DATE, while the NORP dollar has risen PERCENT to around US$MONEY.  
GPE's sales fell PERCENT to MONEY for the half, due mainly to lower metal prices. The tough market conditions would continue into DATE, ORG said.
""I think we are already a ORDINAL of the way through DATE and I think we have got to expect it to be tough because even if the prices (of aluminium) improve DATE it would be hard to get much gain out of it,"" Palmer told ORG.
Shareholders are likely to be disappointed with the result, as the GPE-based miner slashed its dividend to MONEY a share for DATE, from MONEY DATE. This was well below expectations of MONEY a share dividend.
""It is a lot lower than what people were expecting,"" ORG metals analyst PERSON told ORG.
Investors reacted to the weak result by slicing PERCENT or MONEY off GPE's share price. The stock closed at A$MONEY on DATE, its lowest level since DATE.
NORP aluminium analysts said they would further cut their DATE profit forecast for GPE, which produces PERCENT of the nation's primary aluminium, PERCENT of the country's alumina and PERCENT of its bauxite.  
At DATE, analysts forecast GPE to report a net profit of MONEY for DATE, compared with the DATE profit of MONEY.
Lower metal prices and a stronger NORP dollar saw analysts trim their DATE forecast to MONEY prior to the DATE result.
But in light of DATE's DATE result, analysts further lowered their forecast to MONEY for DATE.
""You would have to expect that numbers would be coming down to at least double of what DATE was,"" O'Connor said.","Approval of ORGamp; PERSON's new anti-schizophrenia drug, PERSON, is expected to come soon from ORG, analysts said.
Marketing clearance for the drug, known generically as olanzapine, would put ORG in the front of a parade of new anti-schizophrenia medications coming on the GPE market.
""We expect approval yet DATE ... There's been no hint of any issues"" from the ORG that might cause delay, said ORG spokesman PERSON.
Wall Street analysts said approval could come DATE.  
The ORG has not scheduled an advisory committee hearing for GPE. West said ORG has no indication that a committee hearing will be set. Analysts said the drug likely will be cleared without committee deliberations.
""The big expectation would be that ORG will be approved ... That's what's on everybody's radar screen,"" said ORG pharmaceuticals analyst PERSON.
Zyprexa received a positive opinion in DATE from ORG. NORP marketing approval likely will follow, analysts said.
Several competing products are in the pipeline.  
Close behind ORG are Abbott Laboratories Inc with NORP, Zeneca Group Plc with Seroquel and Pfizer Inc with Ziprasidone. All are expected to hit the market within DATE.
Already on the market are ORGamp; PERSON's Risperdal, ORG DATE and the benchmark treatment available since DATE, haloperidol, as well as a host of less frequently prescribed drugs.
Studies have shown that CARDINAL in CARDINAL people is schizophrenic. Estimates of the DATE GPE market for treating the disease range from MONEY.
Looking at the huge success of ORG's PERSON in treating clinical depression, drugmakers are hoping to score equally impressive wins with the new anti-schizophrenics.
--Chicago Newsdesk 312-408-8787",0
"A GPE-selected committee on DATE chose CARDINAL members of the group which will select the ORDINAL chief executive to lead post-colonial GPE, and said the final appointment would be made in DATE.
ORG, a group hand-picked by GPE to chart the NORP colony's return to NORP rule on DATE, chose CARDINAL members of ORG from a list dominated by ORG politicians.
The CARDINAL-member ORG would make the final selection of the ORDINAL post-colonial chief executive in a meeting on DATE in GPE, officials of GPE's GPE and ORG said.
""The CARDINAL members of ORG are shouldering a great historic mission, I hope they willl not let down the trust of the nation and will not let down the hopes of MONEY people,"" said NORP Vice-Premier PERSON.
The committee should chose a leader capable of maintaining GPE stability and prosperity, PERSON said in a speech to ORG in GPE's cavernous FAC.
The Preparatory Committee meeting chose the CARDINAL ORG members from a prepared list of CARDINAL candidates made up largely of prominent GPE politicians, well-known businessmen and community leaders.
""I think this is a very broad-based representative committee,"" PERSON of GPE and ORG, when asked why few democrats were in the group.
ORG members select CARDINAL of the CARDINAL members. Of the remaining CARDINAL seats, CARDINAL automatically go to CARDINAL delegates on GPE's ORG, or parliament.
The other CARDINAL members will be appointed by local deputies of ORG.
ORG will also choose a provisional legislature to replace the current elected ORG on DATE.
Anxiety has grown in GPE in DATE over how much political freedom GPE will allow after it regains control of a colony run by GPE for DATE.
NORP campaigners in the colony have accused GPE of using undemocratic methods to shape its future government and have condemned the scrapping of the existing legislature.
GPE DATE ordered CARDINAL GPE democratic activists to leave the country after they tried to deliver a petition to officials that criticised the selection method and called for a reprieve of the legislature.
Businessmen PERSON and PERSON and retired judge PERSON, who are front-runners in the contest to become GPE chief executive after the handover, are members of ORG.
Woo and PERSON voted in the ORG election, while Tung -- regarded by many as GPE's favourite -- abstained.
Former Chief Justice Ti PERSON, another key candidate for the top job, is not a member of ORG.","GPE has vowed to wind up the lengthy probe of the disgraced former boss of GPE, saying the case had seriously damaged ORG in the nation's capital.
GPE party chief PERSON stepped down in DATE, DATE after his protege and vice-mayor PERSON was targeted in a probe of economic crimes and committed suicide.
""The cases of PERSON and PERSON absolutely will not just fade away,"" the ORG magazine quoted GPE's current party chief, PERSON, as saying.
""These cases have had a very bad effect on municipal affairs.. and have destroyed a number of comrades in the party,"" it quoted Wei -- ORG top graft fighter -- as saying.
The DATE magazine, published by the official ORG, carried the remarks in its latest edition, seen in GPE on DATE.
The DATE PERSON has been out of the public eye since his fall from grace, becoming the most prominent victim of a campaign against corruption.
He was deprived of his seat on the party's powerful ORG and was officially said to be under investigation for ""serious mistakes"".
Unpublished party documents say that PERSON, who ran GPE for DATE, ORDINAL as mayor and then as party chief, had abused his office by amassing MONEY in unauthorised funds and lavishing favours on friends, associates and a long-time mistress.
Vice-mayor PERSON was found to have used his position to obtain CARDINAL houses illegally and built himself a villa on the outskirts of the city. He also masterminded a MONEY embezzlement and graft scam, officials have said.
The inability of investigators to announce a conclusion to their investigation had triggered much speculation, particularly in the case of PERSON who was said to be refusing to cooperate and was threatening to implicate others.
It also contrasted sharply with the speedy trial and sentencing DATE of dissident PERSON, who was jailed for DATE on subversion charges after TIME in a GPE courtroom.
The magazine also said that CARDINAL people had been linked to the probe of the late vice-mayor, including PERSON, the former chairman of GPE listed affiliates of a major NORP steel company, and PERSON secretary, PERSON.
DATE, prosecutors filed corruption charges against CARDINAL people, including PERSON, who was detained in DATE.
The magazine also said that a former senior member of the GPE city assembly, PERSON, had been arrested and expelled from the party DATE for accepting a large bribe from a GPE businessman. It did not give further details.
The city government had been virtually paralysed since the disgrace of PERSON and PERSON, NORP sources have said.
The campaign to clean up the GPE administration was widely believed to have been a factor in the departure DATE of PERSON as mayor.
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.
Courts frequently impose the death penalty in major corruption cases.",0
"GPE's flag carrier GPE is to start using a ORG PRODUCT on its once DATE GPE to GPE service as part of a drive to increase tourism and trade with LOC, PERSON, the carrier's the airline's general manager for GPE, GPE and east LOC said.
From DATE the PRODUCT will replace a smaller ORG PRODUCT which flies via GPE. The PRODUCT will be a direct flight from GPE to GPE which will stop in GPE to refuel on the return leg, PERSON said.
ORG said it was the only airline offering a direct link to LOC, as opposed to carriers such as GPE which fly to the LOC, and which offers good connections around the LOC region. The larger aircraft will increase cargo capacity from CARDINAL upto QUANTITY and increase passenger comfort, PERSON told ORG in an interview from his GPE office.
GPE is holding a series of seminars with travel agents to try and entice more tourists from GPE. Current passenger levels to GPE are CARDINAL.
""We believe that the market has big potential because GPE people are big travellers and we are offering them a wonderful destination which is TIME away,"" PERSON said.
GPE does not have an Air Services Agreement with GPE and PERSON said if demand increases the carrier could utilise its ORDINAL DATE flight allowed under the current informal arrangement. -- PRODUCT Tel+44 171 542 7706 Fax+44 171 542 5017","ORG said it expects to carry beween CARDINAL per cent more belly cargo when CARDINAL more ORG aircraft are delivered to serve CARDINAL new routes into GPE DATE.
Speaking from the NORP enclave, ORG cargo supervisor sales and marketing PERSON told ORG the new airline is achieving PERCENT load factors on current available capacity.
Airline statistics show that ORG has carried QUANTITY of air cargo in DATE of cargo operations although during DATE no cargo was carried.
The figures also show a steady increase from QUANTITY in DATE to a high of QUANTITY in DATE.
""For a newly established airline I am quite happy to have achieved PERCENT load factors so quickly,"" PERSON said.
""Due to the new aircraft arriving DATE and the new routes into GPE I expect cargo carrying capacity to increase by PERCENT which should be a dramatic improvement."" he added.
The ORG PRODUCT aircraft on DATE leases will join the airline's CARDINAL other PERSON and smaller A320s which are due to begin flying to CARDINAL new destinations in GPE -- GPE, GPE and GPE, the airline said.
It began flying DATE when FAC opened and currently serves CARDINAL destinations with CARDINAL frequencies per week to GPE, GPE, GPE, GPE, GPE and GPE in GPE.
The airline said it wants to fly to CARDINAL destinations in DATE including GPE, GPE, GPE and GPE.
ORG also said it expects to PERCENT more passengers than forecast for DATE of operation, a total of CARDINAL. Many use GPE as a staging post for semi-direct flights where they are not required to change planes between the NORP mainland and GPE.
--Air Cargo PRODUCT Tel+44 171 542 7706 Fax +44 171 542 5017",1
"ORG is expected to leverage its size and experience to overcome the host of problems that pushed regional drugstore chain ORG into a deal with the GPE-based drugstore giant.
Industry experts said ORG is well-placed to capture profits in the southeast by taking advantage of ORG underused distribution center and closing overlapping stores in GPE.
""ORG will be able to integrate Big B really quickly,"" said PERSON of Midwest ResearchORG.  
The CARDINAL companies on DATE said that Big B had accepted a sweetened acquisition offer from ORG in a cash transaction valued at MONEY, or $MONEY per share.
It is the latest in a string of recent acquisitions in the drugstore industry. DATE, ORG agreed to buy LOC-based ORG for MONEY.
Big B initially fought a takeover by ORG, rejecting its unsolicited bid of $MONEY per share DATE and inviting interested parties to submit formal offers.  
Like many other regional drugstores, Big B was burdened by problems that have accompanied the burgeoning clout of managed health care and huge discount retailers.
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 center is operating at PERCENT of capacity.  
One of its 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 center for ORG,"" said PERSON of investment advisory firm ORG.
ORG has said that the acquisition will boost its earnings in DATE of the combination.
After some haggling about terms, ORG signed a confidentiality agreement, took a peek at Big B's 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.
ORG's expanded southeast presence is expected to lead to heightened competition with ORG, ORG, a unit of ORG, and ORG, a unit of ORG .
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.","An independent shareholder advisory firm recommended DATE that investors of ORG reject a key provision in the railroad's proposed acquisition by ORG
GPE-based ORG), which provides corporate analyses to institutional clients, suggested that shareholders defeat a proposal that would permit ORG to pursue its proposed MONEY stock and cash transaction.  
In making the recommendation, senior analyst PERSON noted ORG rival MONEY cash bid that has been rejected by ORG.
""We believe that all shareholders should be treated equally in any merger transaction, and because of ORG's higher offer currently outstanding, we do not believe it would be in shareholders' best interest to opt out of the fair price provision at this time,"" PERSON wrote in a CARDINAL-page report.
Conrail investors are being asked to waive a GPE law that requires an all-cash payment by ORG, which already has bought PERCENT of ORG in a cash tender offer.  
In DATE, ORG and ORG announced a merger that calls for ORG to buy PERCENT of ORG in cash and the rest in stock. Although ORG has submitted a higher all-cash bid, ORG contends the ORG offer is a better fit.
ISS disputed that argument, saying that both potential combinations would create an LOC railroad powerhouse.
""However, ORG's front-end loaded, CARDINAL-tiered takeover does not treat all ORG shareholders fairly, and the lock-ups provided in the agreement have denied ORG shareholders the possibility of accepting a higher payment for their shares,"" PERSON wrote.  
Under the agreement between ORG and ORG, ORG would be prohibited from entering a pact with another company before DATE.
""The only thing prohibiting the higher offer from being presented to sharheolders are the barriers erected by ORG to ensure the company merges with ORG,"" PERSON wrote.
ORG declined to comment on the report. ORG also did not have any immediate comment.
ORG has scheduled a special shareholder meeting for DATE to consider a waiver of the GPE law.  
ISS, which held meetings with ORG and ORG, also recommended that shareholders reject a ORG request to adjourn the meeting if more votes are needed to ensure passage of the waiver.
""In this case, shareholders already have the information they need to make their voting decisions. Once their votes have been cast, there is no justification to spend extra money to continue pressing shareholders for more votes,"" PERSON wrote.  
ISS also said the ORG union could run into trouble from ORG (ORG), the federal regulatory agency overseeing railroads.
""Although ORG and ORG believe ORG approval and/or concessions will not create significant problems, we see the competitive issues as a major concern, and do not share ORG's belief that ORG approval of the transaction is assured,"" PERSON wrote.
He also noted that many shareholders expected ORG and ORG to amend their pact to sweeten the stock portion of their proposed transaction.
""ORG has indicated that it has had discussions with ORG about raising the back end of the consideration to make the offer more equitable to shareholders, but no decisions have been made to date,"" PERSON wrote.
He also said that ORG would likely raise its rival offer if ORG sweetened the deal.",1
"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 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, or WORK_OF_ART.
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.
Officials from GPE's ORG were to arrive in GPE DATE for talks with GPE's ORG Plant Quarantine on DATE, the diplomatic source said.
""We have been told they will hold off on any action until then,"" he said.
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 definitively indicate the presence of ORG.","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 DATE NORP 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, adding that the disease had been eradicated after an outbreak in DATE.
""It affects the birds but not the meat. The meat does not transmit anything to people,"" the official said.
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, or 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.
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.
However, ORG officials said they were unaware of the ban.
GPE officials in GPE 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,"" CARDINAL senior official said.
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.""
The NORP chicken ban is the latest headache for GPE agriculture officials in GPE. Wheat is a continuing issue, with GPE refusing to import grain from the LOC 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.",1
"GPE's largest insurance group ORG has become early favourite to win the auction for ORG after its QUANTITY (MONEY) bid for the mutually owned life assurance group.
Industry analysts said the offer, which uses excess capital in the ORG's QUANTITY life fund, will make it difficult for rivals to compete and may have delivered a knockout blow to ORG hopes of buying ScotAm.
Pru shareholders are also likely to be pleased with the finacial engineering which has gone into the offer. QUANTITY is coming from shareholders funds and ORG shares added MONEY to MONEY on DATE as the market digested the details of the deal.
The Pru's offer contains elements of both the PERSON bid and FAC's own flotation proposals but it is in its structuring that the deal may have stolen a march and narrowed the field of potentials bidders.
The QUANTITY bonus in cash and shares matches PERSON's payout but the Pru says it will add MONEY to policies as soon as practicable and pay a minimum additional 250 million pounds when policies mature.
It also says it will pay MONEY into GPE's life fund - a loan from its own life fund, allowing investments in equities to be increased, which historically have provided the best returns.
The Pru will close FAC's life fund to new business, the existing free assets which it estimates to be MONEY, will no longer be required to write new business and so can be paid out to ScotAm policyholders.
""The deal returns all the working capital to policyholders which under the GPE deal would have been retained in the fund to write the new business. For others to replicate that is difficult,"" said CARDINAL industry analyst.
Other potential bidders such as the ORG building society, ORG, NORP-Dutch financial services company GPE, NORP firms ING PERSON and GPE may now be having ORDINAL thoughts about throwing their hats in the ring.
Only a couple of the stronger life companies mentioned as potential acquirors could come up with a similar structure.
NORP Mutual Provident which also has substantial excess capital in its life fund could in theory do so.
""I would struggle to name another one,"" said an analyst.
But PERSON, whose QUANTITY offer DATE sparked the bidding war is likely to find it very difficult to compete.
It lacks the capital strength in its life funds to readily replicate the Pru deal and would probably have to turn to external capital to raise its bid substantially, said analysts.
""PERSON could match the ORG's offer. Whether it would be sensible is another issue. It's hard to match and satisfy its own shareholders that its in its best interests."" said CARDINAL
The Pru may also hold the advantage it terms of the benefits accruing from a ScotAm acquisition.
There would be less overlap in the businesses than GPE which already owns PERSON and it would lift the Pru's exposure to the independent financial adviser market (IFA).
PERSON has yet to detail its offer but said DATE after the Pru's approach that once it had access to full financial information it was sure its final offer would be extremely attractive to GPE's policyholders, management and staff.
Industry analsysts, however, were sceptical that PERSON after setting the ball rolling in the battle for control of GPE, it could manage to compete with the Pru's financial muscle.","ORG stock surged on 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.",0
"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"", the executive said.
ORG is a consortium made up of GPE's ORG, ORG (BAe), ORG, a unit of GPE's ORG, and ORG (ORG) of GPE.
The NORP company has historically held around a PERCENT share of the market, with ORG holding PERCENT and ORG.
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 asked not to be identified. 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.
ORG officials in GPE declined comment. ""We can't comment on things happening in LOC,"" a spokeswoman said. Officials at ORG were not available for comment.
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.
A memorandum of understanding was due to be signed by DATE setting out the main lines of the new company 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.
Previous major consolidation moves in GPE between fierce rivals such as ORG and ORG, and now ORG and ORG, showed all that was needed was the ability to look ahead and for the political will to exist.
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.
The irony is that ORG held merger talks with ORG in DATE but the GPE firm was stronger in DATE and ORG had not consolidated its position in the world market.","NORP Telecommications beat even the most optimistic analyst forecasts on DATE with robust DATE profits and insisted it was growing despite ever stiffer competition.
BT, which plans to merge with GPE's ORG to create PERSON, one of the world's biggest telecoms groups, said profits before tax, redundancy and restructuring charges rose PERCENT in DATE and PERCENT in DATE.
But after a hefty QUANTITY (MONEY) of redundancy costs and a QUANTITY charge for the repurchase of government-held bonds, DATE pretax profits came in at MONEY and MONEY in DATE -- slightly below the corresponding DATE figures.
BT, whose shares were MONEY higher at PRODUCT in heavy trade after a high on DATE of CARDINAL, managed to hang onto its CARDINAL residential customer lines despite predictions that competition from cable companies would dent its market share.
""We're growing, we're not going backwards,"" finance director PERSON told ORG in an interview, noting that turnover in DATE rose PERCENT to MONEY.
""I think telecoms is one of the most exciting growth industries in the world,"" he said. ""When we open (the markets) up, drop the prices, raise the quality of service, and really market hard, the growth levels are double digit.""
The group also said its biggest business, inland calls, grew PERCENT to PERCENT in DATE moving average basis after price cuts and marketing initiatives.
But chief executive Sir PERSON told a news conference ORG was probably losing one to CARDINAL percentage points of a growing NORP telecoms market, and that this trend was likely to continue, forcing BT to turn abroad for profit growth.
""BT will lose profits in the short term,"" said PERSON, telecoms analyst at ORG, who expects ORG to post DATE pretax profit of MONEY. But he said ORG was well placed to fight competition at home and abroad.
""They are the group that has done the best (abroad) so far and in the GPE, they have protected their position,"" he said.
Brace said ORG planned to ""get very aggressive"" in DATE as NORP telecoms markets are opened around DATE.
ORG expects to win PERCENT of revenues from its CARDINAL continental NORP joint ventures after liberalisation. Those ventures, worth MONEY, could start contributing profits after DATE, ORG said.
The group plans to take a substantial market share of the lucrative big business, data and mobile services markets.
ORG said ORG, which expects CARDINAL capital expenditure to be CARDINAL-2.8 billion pounds, still saw a link-up with a partner such as GPE's ORG and Telephone a high, long-term priority for a ticket into booming LOC.
""I'd really hate to be knocked out by another competitor just because we weren't treading the boards,"" he said.
While GPE was mulling the future structure of ORG, ORG would make sure it was ""parading outside the door"", he said.
BT operates in CARDINAL countries and employs CARDINAL staff worldwide. Since privatisation in DATE, CARDINAL jobs have gone. Another CARDINAL staff left in DATE with CARDINAL more voluntary redundancies expected DATE.
Asked whether ORG planned similar deals to its MONEY ORG merger, ORG said: ""I'm not sure that there are similar deals as ORG -- because there aren't many companies that size in the world one would wish to merge with,"" he said.
BT had already planned a PERCENT DATE dividend rise to MONEY. As part of the ORG deal, ORG is also paying a CARDINAL special dividend in DATE on top of the final dividend. ($MONEY Pound)",0
"GPE on DATE announced a ban on poultry and poultry products from CARDINAL GPE states hit by an 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 a ""very destructive disease"", the ministry official said.
The official said, however, that GPE had banned all GPE poultry brought into the country either by mail or hand-carried by travellers.
""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.
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.
The quarantine official told ORG that the action was unrelated to other trade disputes with GPE and there was no plan to delay implementation of the decision.
The virus in question, known as viscerotropic velogenic GPE disease, or ORG, is deadly, PERSON, representative in 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 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.
GPE and GPE are also 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 restrictions, 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 the meat carried a virus called highly pathogenic avian influenza (HPAI).
GPE and GPE held talks averting the ban, worth MONEY a year.
GPE is the ORDINAL-biggest market in the world, after GPE, for GPE poultry products.
GPE poultry exports to GPE in DATE totalled QUANTITY transshipped through GPE and were worth MONEY, according to ORG and ORG.
Every day QUANTITY of GPE chicken feet are transported across the border from GPE into GPE, according to the council.","NORP traders raised their eyebrows on DATE at reports that GPE had bought CARDINAL of tonnes of soybean oil, saying authorities had issued import licences for only a fraction of that.
""Total quota issued (for soybean oil imports) were MONEY,"" a trader in GPE said.
""People with quota are not in a hurry to import,"" he said, because c&f (cost and freight) prices to GPE were still too high for local buyers.
A NORP trader in GPE concurred, saying high domestic stocks and a near-record domestic rapeseed crop of QUANTITY meant there was as yet no demand in GPE for imported vegetable oil.
Rumours swept ORG (CBOT) on DATE that GPE may have bought QUANTITY of NORP soybean oil in DATE.
NORP soybean oil was trading on DATE at US$MONEY a tonne ORG (free on board) for DATE delivery while GPE soybean oil was $MONEY a tonne, sources in the GPE said.
NORP traders said these levels were still a good $MONEY away from prices NORP buyers would be willing to pay.
But an official of GPE's food trading arm ORG, Oils and ORG (COFCO) told ORG GPE had not yet issued new soybean oil quota or import licences for DATE.
GPE for DATE had expired at DATE, she said. Palm oil import quotas had been issued in DATE, she said, but declined to give more details.
GPE could come into the market for vegetable oil late in DATE or early in DATE to make sure there was enough in stock for EVENT in DATE, traders said.
A NORP source said QUANTITY of soyoil import licences were issued by central authorities in DATE.
He said QUANTITY of soyoil had already been imported on that quota, and QUANTITY of quota had been allocated to GPE so licences could be sold there for cash.
Authorities in GPE, contacted by telephone, said they were unaware of this.
CARDINAL trading house source in the region reported DATE on the telephone on DATE, fielding NORP inquiries for soybean oil. He thought perhaps this was an indication quota had been issued.
Relevant officials with ORG could not be immediately reached for comment.
An executive with an international marketing organisation who met GPE grain bureau officials DATE said they had no indication of when import quotas for vegetable oil would be issued.
""They said they were going to apply for licences, but they had no idea when they were likely to be issued,"" she said by telephone.
Prices quoted DATE by ORG ORG in GPE put grade CARDINAL soybean oil in northeastern GPE province at MONEY ($MONEY) a tonne, and grade CARDINAL in GPE at MONEY ($MONEY) a tonne.
Freight information from GPE details QUANTITY of vegetable oil due to be loaded for GPE in DATE. No other details were available.
Soyoil imported into GPE without an import licence carries a PERCENT import tax. Importers with licences must pay PERCENT import duty and a PERCENT value-added tax on top of that.
-- GPE newsroom (CARDINAL) 2843 6470",0
"NORP dairy and distribution company ORG is keen to acquire food and distribution companies in LOC, said finance director PERSON.
""We are actively seeking acquisitions. We continue to look at acquisitions of all sizes in both the food and distribution area in LOC,"" WORK_OF_ART told ORG in an interview on DATE.
""We talk about small, medium and large. Medium is in the area of QUANTITY. We will continue to make small acquisitions of the in-fill, bolt-on type nature,"" he said.  
Unigate, which acquired ORG's NORP margarine and spreads business in DATE for CARDINAL stg, reported net cash held of CARDINAL at DATE.
The cash outflow for DATE of CARDINAL stg includes CARDINAL spent on acquisitions, net of disposals. The group sold its GPE restaurant business Black-eyed Pea for CARDINAL stg in DATE.
The sale of ORG and ORG for CARDINAL since DATE stage enables the company to focus on developing its core NORP food and distribution business.  
The company also sold its minority stake in NORP food company Nutricia for 360 million stg in DATE.Cash at the bank and in hand amounted to CARDINAL at DATE stage. PERSON declined to say whether the company was in talks with any ORDINAL parties nor would he be drawn on the specific type of acquisition GPE is after.
At an operational level PERSON said he expects the dairy side of the business to continue to suffer from weak commodity prices in DATE. PERSON reported profits down CARDINAL stg at CARDINAL due to lower prices for butter and milk powders which cost GPE CARDINAL in the period.  
But from DATE Unigate has seen a small reduction in raw milk prices, said PERSON.
""In fresh foods, trading is still reasonably tough in the GPE retail environment. We have seen high pig prices in DATE which squeezed margins but we expect some easing in that area,"" he said.
Unigate's NORP foods division reported profits up CARDINAL at CARDINAL in DATE, with fresh foods increasing its profits from CARDINAL to 26.5 million stg.
The improvement was especially helped by the contribution from the DATE acquisition of ORG's margarines and spreads business.
PERSON, the bacon and pork processing business, also benefitted 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 and CARDINAL in buying ORG's ORG and PERSON brands to add to St Ivel's existing brands -- Gold and Utterly Butterly.
-- GPE PRODUCT +44 CARDINAL 6437","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 organisation 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
"Dairy and fruit juice group ORG said on DATE its reforms announced in DATE were now almost fully completed and the group was poised for above-budget profit growth in DATE.
""It's almost fully implemented,"" outgoing ORG managing director PERSON told ORG in an interview.
""The real benefits start to emerge as people become more familiar with the new structures and clearly there'll be gains over DATE,"" PERSON said.  
Earlier on DATE ORG posted a PERCENT higher operating profit before tax of MONEY for DATE.
Its net profit rose to MONEY from MONEY after an abnormal loss of MONEY.
Net profit before abnormals rose to MONEY from MONEY, against analysts' expectations of MONEY.
ORG said in announcing its results, earnings for DATE and DATE were ahead of budget and comfortably ahead of DATE.  
PERSON repeated that this meant that CARDINAL profits were likely to be higher than in CARDINAL, but he would not say how much higher. ""But its clearly going in the right direction.""
The reforms had created a more efficient distribution system for chilled foods, increasing sales coverage for ORG products, ORG said.
""It's a combination of cost reduction and enhanced distribution, and looking at our beverage division, our flavoured milks are performing particularly strongly,"" he said.
""There are a number of areas that starting to perform a lot better for us.""  
Reaney said the sale of non-core assets had also been completed and the company was now focused on extracting profit growth from existing assets.
""We would consider all businesses that we have DATE as core businesses,"" he said, adding, however, that he could not rule out future acquisitions.
""But the ORDINAL objective to make those assets that we currently own work better, produce more profit, more cash flow.""
GPE's PERSON has PERCENT of ORG and GPE ORG has PERCENT of the company.  
PERSON said he would not comment on shareholders' intentions or actions or whether either of the NORP-based investors planned any takeover or had brought on any board room reshuffle.
He said he had resigned the managing director's position having worked for the company for DATE. ""DATE is a normal period for a chief executive and quite genuinely I do have other things to do,"" he said.
""I'm quite relaxed and if it wasn't an amicable arrangement I wouldn't be staying on as a non-executive director,"" he said on his last day in the job.  
PERSON's replacement, PERSON, was chief executive of ORG until DATE and presided over the transfer of operations from ORG to ORG.
ORG shares closed up MONEY at A$MONEY.
-- ORG CARDINAL-2 373-1800","Police arrested a GPE pilot carrying a suitcase packed with QUANTITY QUANTITY (QUANTITY) of high grade heroin at GPE's international airport on DATE TIME, a prosecutor said.
PERSON, DATE, originally of GPE but now living in southern GPE, was detained as he made his way to board CARDINAL of the NORP airline's ACES flights to GPE, said the prosecutor, who cannot be named for security reasons.
ORG told ORG he had been framed and the suitcase was not his. He was to have travelled on the flight to GPE as a passenger but was wearing a commercial aviator's uniform when arrested. He declined to say exactly where in southern GPE he lived but his passport was issued in GPE.
""I was carrying the suitcase but it was not mine. I was totally surprised when the police opened it up. The clothes inside were mine but nothing else was. I'll kill the person who switched my bag if I ever find them,"" ORG said.
""I just wouldn't do a thing like that. This has put my career and my family in jeopardy. I've worked too hard just to blow it on something stupid like this,"" he added.
ORG declined to say which airline he worked for. No airline insignia were visible on his uniform or his pilot's overcoat.
A police spokeswoman said the heroin was discovered when the bag ORG was carrying was put through an x-ray machine -- one of the multiple routine checks that international passengers have to undergo when leaving GPE.
""ORG was arrested with a suitcase stuffed with clothes and high quality heroin,"" the spokeswoman said.
The prosecutor said ORG would be interviewed further in the presence of a lawyer and an interpreter on DATE.
TIME airport police seized a NORP passenger as he tried to board a flight to GPE with false-bottomed suitcases packed with QUANTITY (QUANTITY) of cocaine.
ORG (ORG) estimates NORP drug cartels supply PERCENT of the world's cocaine. And in a report DATE, it said GPE had edged out the Golden Triangle of southeast LOC as the No. CARDINAL supplier of high grade heroin to GPE.",0
"The health of NORP President PERSON has improved considerably as he recuperates from lung cancer surgery DATE, his spokesman said on DATE.
Havel, DATE, who had a small malignant tumour removed along with CARDINAL of his right lung on DATE, required an emergency tracheostomy on DATE to connect a respirator through his throat after he developed severe breathing problems.
""The worst is behind us,"" presidential spokesman PERSON told ORG on DATE. ""The tendency, the return to improvement (in ORG's health) is distinct, and we hope it will continue into the future.""
Spacek took the place of ORG on the president's regular national DATE radio programme.
The president had hoped to record at least a sentence for the show, but his condition on DATE TIME, when it was was recorded, kept him to the role of a listener, NORP radio said.
The president has been communicating by writing notes to doctors and his staff.
NORP Archbishop Miloslav Vlk led a national prayer mass for ORG on DATE at ORG in Prague Castle.
CARDINAL of friends and leaders around the world, including GPE President PERSON and NORP President PERSON, have sent get-well wishes to the hero of GPE's non-violent DATE revolution over communism.
Havel, a heavy smoker, entered ORG in central GPE on DATE after his office said he had been suffering from pneumonia.
After the surgery, he developed pneumonia in the opposite lung and had been fighting a fever, but his spokesman said on DATE that ORG's temperature had returned to normal.
Doctors say ORG will probably remain connected to the respirator DATE, and if his recovery goes well, he might be back to work as soon as DATE.
The former dissident-playwright who helped lead GPE's so-called ""WORK_OF_ART"" over communism has limited executive powers as president, and did not relinquish any of his duties during his surgery or his recovery.","ORG NORP unit, ORG., on DATE launched sales of its new sedan, the GPE, hoping to kill off jokes about NORP-era quality, and pull the company into profit.
Officials said the new model, built on a common ORG platform designed for the DATE PERSON and upgraded PERSON, would expand GPE's market penetration by putting the company's ORDINAL ORG mid-sized car in showrooms worldwide.
""Our strategic markets are in central and eastern LOC, western LOC, and we are present in some NORP markets. We expect to sell Octavias successfully in all of our CARDINAL markets,"" marketing director PERSON told ORG.
The new sedan received a hero's welcome at showrooms around the capital GPE on DATE as crowds gathered to watch dealers mount the GPE on viewing pedestals.
Exports of the front-grilled GPE -- a major step away from the boxy sub-compacts which made the NORP-era GPE the butt of automotive jokes worldwide -- to LOC and beyond DATE or in DATE.
The car will be available on the domestic market with a choice of CARDINAL petrol and CARDINAL diesel engines, with the top-of-the-line ORG automatic model priced at CARDINAL crowns, and a base model priced at CARDINAL crowns.
""In the NORP market its more or less toward a luxury- class car by the nature the purchasing power and the nature of the car market itself,"" PERSON said.
""In western LOC it is a medium sized car that will belong to the middle class market, and in NORP markets I think it will be toward the luxury class,"" he added.
Skoda will make CARDINAL Octavias in DATE at its new purpose-built plant in ORG north of GPE, and raise production to CARDINAL in DATE.
Skoda Chairman PERSON said DATE he expected CARDINAL Octavias to be sold DATE on the home market, with the rest exported to LOC and points LOC.
""I think customers who would be looking for a used car would look at a Skoda Octavia, I think that people who own a smaller car would look at GPE,"" PERSON said.
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",1
"Investing in NORP telecommunications stocks is full of hazards as the region grapples with a general lack of sophistication and wide discrepancies in demand and regulation, analysts say.
ORG differ greatly on the potential of individual stocks and countries, but analysts generally agree that telecom regulation is the most important determinant to future performance.
""Understanding the regulators is essential as regulatory issues were the main determinant of NORP telecom stock performance DATE,"" PERSON said in a recent report.
NORP telecom bulls say the global information revolution, combined with the region's rapid economic growth, have swamped the capacities of state-run operators, forcing a confrontation between regulators determined to meet demand and monopolistic state enterprises anxious to maintain market share.
""NORP telecom regulators, usually under-empowered, have promoted liberalisation, often taking on strong political and economic forces,"" PERSON said.
So far, regulators have responded by issuing licences -- a politics-fraught move that usually diminishes the prospects of the primary telecoms firm.
This is acceptable in low-penetration countries with untapped demand, analysts say, but more dicey in high-penetration markets, such as GPE and GPE.
""This is why deregulation in GPE did not really make sense on the fixed-line side if the new licensees could not access the lucrative ORG sector, which they can,"" PERSON said.
DEREGULATION DAMPENS OUTLOOK ORG, SINGAPORE TELECOMS
Continuing deregulation in GPE and GPE, CARDINAL places with a high dependence on ORG traffic, has prompted a negative outlook on ORG and ORG, it said.
In low-penetration countries such as GPE and the GPE, regulators have issued concessions to build fixed lines, giving contractors the right to receive local revenues and perhaps a portion of those from domestic long distance.
Because the new local lines stimulate long-distance demand, this arrangement fails to attract the ire of primary telecoms which reap the benefit, analysts said.
This has worked well in GPE and the GPE, where new local fixed lines are expected to boost earnings in both PT Telkom and ORG (PLDT) rather than eroding their market position.
The situation is very different in the cellular sector, where major market players are complaining that too many licences have been issued as they lose market share to strong ORDINAL-tier players which are aggressively undercutting tariffs.
Because of this primary/secondary interplay, PERSON said it has turned negative on ORG and neutral on ORG. But it remained positive on ORG.
GPE's ORG has been battered down too hard, the brokerage believes, and it has been upgraded to a buy.
BROKERAGE BULLISH ON INDONESIA, GPE
ORG (DMG) is similarly optimistic on the outlook for PT Telkom and PLDT, but it adopts a much less optimistic overall view of LOC's telecom sector.
""The Asia-Pacific telecommunications industry is undergoing a period of rapid transition from a relatively underdeveloped and protected industry to one which is becoming increasingly saturated and highly competitive,"" DMG said in a recent report.
An overall increase in competitive pressures is not being made any easier by governments' liberal approach to the issue of licences and the lack of any industry consolidation, ORG said.
""In an environment of increasing saturation and rising competitive pressures, ORG (earnings per share) will continue to come under pressure,"" DMG said. ""We believe that we are already witnessing signs of industry maturity.""
DMG estimates that PERCENT of the population in the GPE, GPE and GPE can afford telecom services.
DMG is positive on GPE and GPE, but for different reasons.
GPE's lower telephone density combined with a restrictive and non-competitive regulatory structure are attractive, it said. In GPE, a large middle class more than compensated for the higher number of phones.
""Although competitive pressures are rising, the combination of low, effective teledensity rates, a wide middle class and exceptionally aggressive capex and depreciation policy should ensure that GPE Mobile Telecom Co will continue to deliver above-average ORG growth rates,"" DMG said.
EVEN TOUGHER TASKS AHEAD FOR REGULATORS
Analysts said regulators have done the easy part -- issuing new licences. Now it gets tricky as new licensees demand better terms on geography, interconnection and ORG rights. Cellular licensees are also demanding more spectrum.
""What will be interesting to watch is how quickly these number CARDINAL companies demand that they compete on fair terms with the primary telecoms,"" PERSON said.","GPE conglomerate ORGamp; ORG has launched a search for a new partner for its fledgling GPE fund management company following ORG decision to pull out.
""We've got nobody on the hook but there are people with whom we're having discussions,"" said PERSON, deputy chairman of ORG, a CARDINAL joint venture between GPE and GPE's ORG.
Wheelock ORG revealed DATE that ORG wants to dispose of its stake in the fund management division following its acquisition of NORP pension giant PERSON in DATE for CARDINAL stg.
""The decision to buy Gartmore meant the support and distribution and all of that that had been hoped for from ORG in support of ORG obviously weren't going to be available. They were going to use Gartmore as their fund management arm instead,"" PERSON said.
Sibley expressed disappointment at ORG's decision, but rejected speculation that the remaining divisions under the joint venture -- corporate finance and equity stockbroking -- could also become vulnerable to ORG pulling out.  
""Yes, obviously we're disappointed,"" he said. ""But there's no question of the equity and corporate finance business breaking up or anything like that. That is running along perfectly satisfactorily.""
The joint venture, which offers corporate finance and equity stockbroking services as well as investment management in GPE, became fully operational DATE.
ORG said he understood why ORG wanted Gartmore.
""They had a very weak fund management side themselves and they needed to make a sort of quantum jump in that activity, which is what the acquisition of Gartmore did for them.""
However, ORG's decision to pull out comes at a particularly sensitive time for the new fund manager.
ORG is experiencing rising commissions but the completion of its research division, considered essential to attract major institutional clients, has only just been completed, ORG said.
""It takes a long time to build up a research product, which we only just got DATE,"" he said.  
""The commission figures go up and up and up every month. They haven't had a single down DATE since we started. But the big jump comes over DATE when you can offer the full service to the major institutions and hope that we can attract them to deal with us through the quality of our research and execution service.""
Wheelock now hopes to find a NORP or NORP partner, said Wheelock ORG chief executive PERSON.
He said he hoped a decision would be made by DATE.
-- GPE (CARDINAL) 2843 6441",1
"ORG new rules opening the local telephone market to competition are likely to survive a slew of legal challenges leveled by state regulators and local phone companies, lawyers predicted DATE.
They said it is unlikely a federal court would overturn the core of the ""interconnection"" rules.  They said such a move would happen only if the ORG acted arbitrarily, or grossly overstepped its legal boundaries by making the rules inconsistent with the new telecommunications law.  
But lawyers do not believe the ORG has overstepped the law. ""Unless the commission has really overstepped the bounds, no court is going to be eager to overturn this carefully constructed apple cart,"" said attorney PERSON with PERSON, Weiss, Rifkind, Wharton & PERSON.
PERSON, a former top ORG official who is now an attorney with ORGamp; PERSON, echoed that view.
""The commission will eventually win in court,"" he said.
State regulators already have filed suit to block the new rules, which the ORG issued DATE.  
On DATE, ORG said it asked ORG in GPE to annul the rules, which implement the 1996 LAW.
The regulator said the ORG rules are an intrusion on the state's authority to set local telecommunications policy.
DATE, ORG -- which represents state regulators -- said it would ask the courts to offer a speedy review of the rules.
The regulations are designed to break open local phone monopolies and give long-distance companies, cable television firms and others a crack at offering local phone service.  
Meanwhile, ORG and ORG said they would ask a federal appeals court in GPE to block the rules.
ORG said it would ask a federal appeals court to overturn the rules, charging that the ORG had ""gone far beyond the intent of ORG.""
ORG is exploring legal options, including a legal challenge or having the court set aside certain components of the rules through a ""stay.""  
In addition, GPE, a trade group representing ORG and local phone companies, said it is exploring its legal options and plans to be involved in the appeals process.
But lawyers think the rules will withstand such moves.
""The (ORG) did such a good job here it is going to be sustained on appeal,"" said PERSON of ORGamp; ORG.
Lawyers said that while a court could rule against the ORG on smaller aspects of the interconnection rules, the heart of the rules should remain unscathed.  
Still, lawyers hedged their bets and said it was possible that the ORG could lose and that the legal challengers could pull a rabbit out of the hat and have the rules overturned.
""You may get lucky.  You may win the lottery,"" said PERSON, GPE, explaining the tactics behind the challenges.
""If I were a betting man, the odds favor the commission over the petitioners,"" said former ORG General Counsel PERSON.  ""But I wouldn't put a lot of money on it.""","The Montreal Canadiens, the most storied franchise in ORG, were engulfed in sale rumors on DATE, which drew a fierce denial from its owner, PERSON. Ltd..
NORP newspapers reported that a consortium led by former ORG all-star defenseman PERSON was assembling a bid for the PERSON, who have won WORK_OF_ART championships since DATE.
Citing unidentified sources, GPE's ORG newspaper reported that ORG headed the group and that talks with PERSON had been under way for DATE.
""Don't take this story lightly. There's a very good chance that it could happen,"" wrote sports columnist PERSON, quoting a source at GPE.
Rejean Tremblay, a columnist for the GPE newspaper ORG, reported similar rumors.
PERSON is the sole owner of the ORG and the new MONEY (MONEY) GPE arena in which the club plays. It also owns PERCENT of GPE's biggest brewer ORG.
""The company has not approached anyone on this subject and no one has approached us. Neither the hockey club nor FAC are for sale,"" Molson Chief Executive PERSON said in a statement.
Analysts speculated that the PERSON and the arena could fetch MONEY (MONEY).
Savard, a Hall of Famer who played with GPE from DATE, was fired by the ORG DATE after DATE as general manager.
Now a wealthy real estate executive in GPE, GPE was unavailable for comment on DATE.
""I would think that if anything is going on there, the initiative is being taken by the potential buyer rather than the seller,"" PERSON, an analyst with ORG said in a telephone interview.
Selling the ORG would be a dramatic about-face for PERSON. The company said DATE the club was a key part of its heritage.
""At the PERSON companies, we have CARDINAL legacy assets, PERSON and ORG,"" ORG told shareholders at the DATE meeting in DATE.
Sports plays a huge role in selling beer in GPE and the PERSON name is intertwined with ORG hockey. Aside from putting its name on a new arena, PERSON is a major sponsor of ORG television broadcasts in GPE.
The PERSON family sold the club in DATE to PERSON, whose cousins control the ORG beverage empire. Molson Cos. reacquired the team in DATE.
Analysts said here had been no hint from PERSON that it was interested in selling the club or arena.",0
"GPE demanded on DATE that GPE cancel plans to sell PERSON missiles, launchers and other weapons to GPE to prevent ""new damage"" to slowly recovering NORP relations.
""We ask the GPE side...to cancel plans to sell missiles to GPE to prevent creating new damage to NORP-U.S. relations,"" a ORG spokesman told ORG.
GPE has regarded GPE as a renegade province since the end of EVENT in DATE. It opposes the sale of weapons to the island.
GPE should take DATE-U.S. relations into account and live up to its promise regarding the sale of weapons to GPE, the spokesman said without elaborating. GPE has agreed to reduce weapons sales to GPE.
Rejecting a similar demand by GPE on DATE, ORG notified ORG DATE of plans to sell PERSON missiles, launchers and other weapons to GPE.
GPE officials said the weapons were defensive and the sale would not affect the basic military balance in the region.
The ORG said GPE wanted to buy CARDINAL PERSON missiles, CARDINAL guided missile launchers, CARDINAL flight trainer PERSON missiles, CARDINAL jeep-like NORP vehicles and CARDINAL rounds of .50 calibre ammunition for MONEY.
The principal contractors are ORG, ORG and ORG.
Such sales must be made through ORG, not directly by contractors, and ORG must be notified in case it wants to veto the sale.
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.
The ties plunged to new depths over DATE over a landmark trip by GPE's President PERSON to GPE in DATE.
DATE, GPE warned GPE that a GPE stopover by GPE's Vice-President PERSON could cause new damage to slowly recovering ties.
However, in a sign that GPE was eager to prevent PERSON's visit from harming slowly warming relations, GPE refrained from further comment while PERSON was in GPE.
Ties between GPE and GPE were set on better footing after a visit to GPE by ORG Adviser PERSON in DATE.
The trip laid the groundwork for an exchange of high-level visits TIME, with GPE Secretary of ORG PERSON invited to GPE in DATE and NORP Defence Minister PERSON due to go to GPE before DATE.
An exchange of visits by NORP President PERSON and GPE President PERSON could go ahead DATE, if PERSON wins re-election in DATE.
NORP officials have said they expect PERSON's visit, his ORDINAL since a DATE trip that stumbled badly over human rights, to go smoothly with both sides keen to remove obstacles in their relations.
In a separate development that could strain NORP ties, ORG reported on DATE that GPE intelligence officials had concluded that GPE was secretly building a medium-range missile factory near GPE using NORP blueprints and equipment.
Asked to comment on the report, ORG spokesman PERSON said: ""The report is totally groundless.""","GPE Financial Secretary PERSON painted a rosy picture of an expanding economy on DATE, DATE before he presents the budget that will straddle the territory's handover to NORP rule.
With economic growth forecast at PERCENT DATE and the trade picture improving, GPE economy is well positioned ahead of the territory's transition from NORP to NORP sovereignty on DATE, ORG said.
""GPE will start life as GPE (of GPE) in sound economic shape, with every prospect that we will remain the most attractive business location in this region,"" PERSON told a Hong Kong Investment Fund Association lunch.
Tsang is due to release the DATE budget on DATE.
He revealed the government's economic forecasts but declined to disclose its fiscal reserves or comment on an expected fiscal surplus of MONEY (MONEY), substantially higher than a prior government forecast of HK$1.6 billion.
""It makes good sense to separate clearly our economic forecasts from the annual budget,"" he said.
""To maintain our position as a major centre for international business, entrepreneurs and investors need prompt access to the best information on our current performance and our future prospects,"" he said.
Tsang said improvements in foreign trade and rising domestic demand would continue to support GPE economy through DATE, following a turnaround in DATE.
Consumption and investment were the primary drivers behind DATE recovery, aided by an unemployment rate that fell to PERCENT and inflation capped at PERCENT, he said.
Private consumption is expected to rise still further by PERCENT DATE, he said.
The massive airport construction project and public housing programmes boosted investment levels in DATE, as did private sector activity in building and construction, he said.
""The feel-good factor returned in DATE,"" PERSON told reporters after his speech.
While investment rates are set to fall DATE as the Chek Lap Kok airport project nears completion, GPE economy should continue to leap ahead, thanks to an improving trade picture that will benefit from steady or high growth rates in GPE, LOC and LOC, he said.
""We expect the economy to perform significantly better than DATE,"" ORG said. ""The improved performance will be generated by faster growth in both domestic demand and foreign trade. We also expect confidence levels to remain high in DATE.""
Exports of goods are forecast to rise PERCENT DATE against a decline of PERCENT DATE. Exports of services are expected to grow PERCENT in DATE against a rise of PERCENT DATE.
Although domestic exports should remain static, re-exports should rise PERCENT DATE compared with PERCENT DATE, ORG said.
Although private consumption growth indicates greater confidence in the territory's future, PERSON warned that GPE was experiencing an increase in price pressure that would push up the benchmark consumer price index (A) by PERCENT in DATE from an inflation rate of PERCENT in DATE.
""That is our forecast at this moment,"" he told reporters. ""It will be revised in DATE... I think that PERCENT is a reasonable estimate.""
-- Hong Kong News Room (CARDINAL) 2843 6441",0
"ORG shares jumped PERCENT DATE amid market speculation that ORG is about to buy the struggling financial management software company.
Shares of ORG, which publishes the best-selling PERSON personal finance computer program, surged $MONEY to close at $MONEY on ORG. ORG rose MONEY to $MONEY on ORG.
Officials of both companies declined to comment about ""market rumors,"" and an ORG spokeswoman called the speculation ""wild.""
Analysts said ORG, the charge card and financial services company, would be interested in buying ORG to enable it to jump into the booming online banking industry.
Intuit, analysts said, might be receptive to an offer because of increasing doubts about its future.
Even if ORG is not interested in acquiring ORG, other companies may be, analysts said.
CARDINAL people, most of them affluent, use ORG's PERSON to manage their finances and do their banking chores through their personal computers.
But ORG's growth has stalled amid fierce competition with ORG, a CARDINAL-time suitor of ORG, and a handful of banks which are offering online banking to their customers through the Internet.
""Intuit is staring down the barrel of a gun, and that gun is the Internet, which is making financial management easier,"" said PERSON, an online banking analyst at market researcher ORG in GPE, GPE
Until DATE, ORG relied heavily on sales of its financial and tax software for its growth. Those sales have slowed as ORG has cut prices.
Intuit also faces renewed competition from ORG, which tried to buy it in DATE. ORG dropped the acquisition in DATE because of opposition from government antitrust officials.
Since then, ORG, the world's biggest PC software company has spent CARDINAL to take on ORG.
To fuel its growth, ORG set up DATE to process online banking transactions between banks and depositors. Some investors saw the transaction business as a promising source of growth.
In DATE, however, ORG sold its transaction processing unit, ORG, to rival ORG
Epper said ORG's biggest challenge is figuring out how to grow. She said the company needs the backing of a bank or bigger computer company to fuel expansion into any new business.","ORG posted another record close on DATE on the back of stronger financial service and conglomerate stocks.
The ORG's key CARDINAL Composite Index rose CARDINAL points to CARDINAL in heavy trading. Trading volume was CARDINAL shares worth MONEY (MONEY).
Of GPE's CARDINAL sub-indices, CARDINAL rose led by conglomerates, banks, pipelines and media.
""This is an interest-sensitive area and where buyers tend to conglomerate,"" said ORG senior vice-president PERSON.
Falling sectors included oils, transports and real estate.
ORG led GPE's active issues after news on DATE of a deal which will give it a majority share in a rich NORP gold deposit.
CARDINAL dealer said he had only traded PERSON -- the world's ORDINAL largest gold producer -- and ORG which discovered the GPE gold deposit.
""I think both are buys at this point in time,"" he said.
Bank stocks were snapped up by investors as GPE's Big Six banks began reporting DATE earnings DATE.
ORG posted its MONEY (MONEY) DATE profit on DATE.
On the broader market, declining stocks edged out advances CARDINAL to CARDINAL, despite gains in the key index. Another CARDINAL shares were unchanged.
GPE markets will be closed on DATE due to EVENT holiday.
--- HOT STOCKS ---
* PERSON rose CARDINAL to CARDINAL on CARDINAL shares, while ORG gained CARDINAL to CARDINAL on CARDINAL shares.
* ORG climbed CARDINAL to CARDINAL on CARDINAL shares. ORG jumped CARDINAL to CARDINAL in heavy turnover of CARDINAL shares.
T-D Bank is scheduled to report its DATE results on DATE.
* ORG jumped CARDINAL to CARDINAL on CARDINAL shares. The stock regained some lost ground since analysts' downgraded ORG DATE.",0
"GPE computer makers are expected to report solid DATE earnings in what is normally DATE, but the stronger dollar will have a negative impact on some big systems makers.
And despite all the negative reports from computer retailers about lackluster personal computer sales, analysts said most GPE PC makers -- with the exception of ORG and ORG -- will show strong sales growth, fueled by hefty corporate PC buying.
ORG is ORDINAL to report, with Q1 late Wednesday.  
DATE, GPE, Calif.-based ORG forecast it would report an operating loss for DATE, citing weak GPE demand for its Performa consumer PC and continued shortages of notebooks.
""Most of the indications are that business throughout the (PC) sector, other than ORG, was strong,"" said PERSON, a ORG analyst. ""With all the negative comments you are hearing from retailers, some of that market was going to the direct marketers (like ORG and ORG ).""  
Analysts said PC leader ORG is likely to report strong earnings, especially after semiconductor giant ORG reported a blow-out fourth quarter, surpassing Wall Street's highest estimates.
ORG gets PERCENT or so of its revenues from the retail consumer channel and the rest of its revenues are from sales to corporate customers, which were booming.
""The consumer business didn't hurt them,"" said PERSON, an ORGamp; Co analyst. ""Dell and ORG are benefitting from the same forces, the transition to the ORG (chip), a hot notebook market and progress in the server business.""  
On the larger systems side, companies like ORG, ORG, ORG, are expected to see some negative impact from a stronger dollar overseas, plus sluggish sales in LOC, while business in the GPE remains strong.
""Business is quite good in the GPE,"" said PERSON, a ORG analyst. ""Where it's slower, or where the concerns have been expressed is overseas, mostly in LOC.""
ORG is expected to report a slight profit, as it slowly recovers from sales force problems in LOC and a money-losing PC business. PCs are expected to break-even.  
""I think it will be DATE,"" said PERSON, a ORG analyst. ""The dollar did strengthen at DATE. You will generally see numbers near consensus.""
Analysts said they expect ORG's earnings to be a bit better than expected, but that its expenses for headcount reductions will be greater than DATE.
""LOC remains a slower grower, which has led to a number of organizational and planned efficiency changes,"" said PERSON, a ORG analyst. ORG reports after the stock market closes DATE, changing an old tradition.  
The following estimates for some major computer makers are compiled by ORG, a unit of ORG.
    COMPANY		   ORG	     DATE
Amdahl Corp		   profit MONEY	  DATE
ORG	   loss $MONEY	    DATE
ORGprofit $MONEY	  DATE
ORG Q2	profit $MONEY	  DATE
Gateway 2000		  profit MONEYDATE
ORG			profit $MONEY	  DATE
Sun Microsystems Q2	 profit $MONEY	  DATE
ORGprofit MONEY	  week DATE","Computers appear to have taken a back seat DATE to gifts of other sorts as several computer retailers DATE reported a sluggish start to DATE.
Among major computer retailers, DATE sales showed ongoing weakness and heavy promotions, and analysts said this combination may bode poorly for sales of personal computers to consumers DATE.
""Bad would be a better word than sluggish,"" said PERSON, an analyst at GPE, ORG ""Promotional (discounting) is a code word for lower profits.""
Retailers noted, however, that calendar quirks made some year-to-year comparisons look negative because EVENT, the traditional start to DATE, was DATE.
ORG, the largest retailer of brand-name consumer electronics and a leading retailer of personal computers, said that industry sales remained weak.
The GPE, Va.-based company reported an PERCENT increase over DATE sales, but at stores open DATE sales fell PERCENT compared with DATE.
""Industry sales trends remained weak and promotional activity intensified,"" said PERSON, GPE chairman and CEO, in a statement.
ORG, based in GPE, said that there were more discounts in the PC category in DATE.
""DATE sales were well below earlier expectations,"" said PERSON, Best Buy chief financial officer. DATE sales were up PERCENT.
But for the DATE period ending DATE, Best Buy's sales in stores open DATE fell PERCENT, compared with an increase of PERCENT DATE.
""The numbers in general in computer retailing were pretty weak,"" said PERSON, a ORG analyst. He estimates that in the computer category at GPE, for example, DATE sales fell PERCENT.
""We think that what's happening is there is a big shift to the direct channel,"" ORG said, referring to companies such as ORG and ORG that sell PCs through phone and mail order.
Analysts also cited increased interest in apparel DATE, following DATE of heavy buying of all sorts of home electronics -- from computers to satellite dishes to audio and video products.
""This is DATE in DATE when there hasn't been a really compelling new reason to buy a PC,"" said PERSON, president of WORK_OF_ART, a market research firm in GPE. ""DATE before you had CD-ROMs, fast modems, the Internet and new ORG chips.""
""The market of ORDINAL-time buyers seems to be shrinking,"" said PERSON.
""You've already gotten a PC into the homes that can afford a decent quality PC.  The rest of the households say it's either too much or what am I going to do with it,"" PERSON said.
ORG was lukewarm about the start of the season. ""Traffic in our stores was very good DATE after DATE,"" Chief Executive PERSON said in a statement.
ORG's DATE RadioShack sales for stores open DATE were down PERCENT; GPE was up PERCENT and ORG superstore sales were flat.
Some analysts said they were not worried by the sluggish retail sales, because they were looking to corporate sales for the bigger profits DATE. The consumer sector, fraught with price cuts, is still barely profitable for some companies.
Even before DATE, industry leader ORG cut prices on its PERSON home PCs by PERCENT. Analysts also said ORG cut prices on new PCs.
""I don't think it means a lot,"" said PERSON, a ORG analyst, of the sluggish start to DATE. ""People are in no hurry to buy.""
Neff said this PC makers expect corporate sales to be the driver of PC growth, not consumer sales. ORG has predicted that the PC market will grow at PERCENT worldwide in DATE, still strong but behind the record growth of PERCENT growth in DATE.
""I just view anything that happens in retail as icing on the cake,"" PERSON said.",1
"Cable and telecoms giants ORGamp; ORG, ORG of the GPE 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.","GPE's ORG and property group PERSON on DATE applied for detailed planning consent for a development aimed at injecting life into an office-dominated area of GPE's former docks.
""Life means people who stay here. We looked at what was lacking (in Canary Wharf) and that was life,"" WORK_OF_ART, executive director of ORG, told ORG in an interview.
HPL and PERSON, which is owned by an international consortium led by PERSON and including Prince PERSON PERSON PERSON of GPE, formed an CARDINAL joint venture for the residential, hotel and leisure project.
The multi-million pound scheme represents the ORDINAL phase of development of an QUANTITY (CARDINAL hectare) site adjoining LOC. It will be part of the landmark PERSON docklands development to the east of the City financial district, home to GPE's tallest building.
The development will be the ORDINAL at the massive ORG site since an agreement DATE by banks to sell out to the Reichmann-led consortium. The banks had taken over the ownership when the original development company went into administration.
Despite these problems, PERCENT of the offices have now been occupied and PERSON is vying with the GPE's traditional financial heartland as a site for large global investment banks to locate their new headquarters.
Office blocks have so far dominated the site, however, and Thio Gim Hock said he expects to start building CARDINAL residential units, a CARDINAL star hotel and sports club early in DATE. They are due to be completed by DATE or DATE.
There is already outline planning permission from ORG (LDDC) to develop the site and Canary Wharf's PERSON, a director of the joint venture, believes detailed permission should be granted.
An initial capitalisation of MONEY (MONEY) will come from the partners. Further funding is expected to come from sale of apartments and bank loans, although Thio Gim Hock would not be drawn on the financing.
HPL, which has a stake in GPE's PERSON as well as interests in hotels such as ORG and residential developments, said in DATE the Canary Wharf scheme would cost MONEY, although the total cost is likely to be higher given the estimates for the ORDINAL phase.
Designer PERSON is to shape the hotel and leisure component of the new development, which will include a glass-covered ""infinity"" swimming pool which will give the appearance of dropping into the river Thames below.
Thio PERSON said PERSON will ""give some sex appeal to the development"", which he says will have a country club atmosphere. He wants the hotel to have its own distinctive character which will be ""elegant, understated and aimed at business people"".
The developers also envisage opportunities for top-class restaurants with river views on the site.
He expects many of the apartments to be sold to people in GPE, but also hopes for overseas interest and foresees some buyers seeking an investment rather than a place to live. HPL's track-record in GPE will, he said, encourage interest from the company's home patch.
""I have no doubt that a lot of them will come and buy here.""
Work on the Canary Wharf project in the former GPE docks began in DATE under PERSON and York, owned by the PERSON family of GPE.
But in DATE ORG went into administration and was rescued by a group of banks that had financed the project in DATE. ($MONEY Pound)",1
"ORG said its sales so far in DATE were similar to those in DATE -- as the company predicted in DATE -- though sales of caller ID equipment in GPE were even worse than expected.
""We were right on in DATE. If anything it is worse than we had ever thought (in GPE),"" Chief Financial Officer PERSON told ORG on DATE.
Still, ORG, who is also chief operating officer, said he was comfortable with analysts' current DATE estimates, which were revised down sharply after the DATE statement.  
""Everything DATE -- that is still the indication. Yes, we're happy with the guidance...,"" he said, referring to the company's statement during DATE.
In DATE, the company said it was unlikely to meet analysts' sales forecasts for DATE and instead expected sales in line with those in DATE.
It said its lower expectations reflected weakness in GPE, uneven sales through ORG and delays in new products.  
ORG ID services have taken off across GPE in DATE, with additional demand generated when long-distance caller ID received federal approval DATE.
However, regulators in GPE had reservations about caller ID on privacy grounds and only approved ORG launch the service in the state in DATE.
ORG said the negative publicity about privacy for callers has inhibited sales despite a recent LAW marketing campaign, and sales are not expected to pick up rapidly.  
""I would think they would be a little better, but not much,"" he said, referring to GPE caller ID sales in DATE. ""You open up a ORDINAL of the GPE market, and all of a sudden it turns out to be a dud.""
Sales of caller ID by ORG continue to be choppy -- as cited in the sales warning -- because of management changes at the company and on-off publicity for its caller ID service. Still, ORG expects improvements soon.
Ameritech offers local telephone services in GPE, GPE, GPE, GPE and GPE.","GPE has moved a step further from its recent radical past with a decision to scrap the crime of ""counter-revolution"" and replace it with the offence of jeopardising state security, officials said on DATE.
The maximum penalty of death for a charge that is most commonly used against political dissidents accused of subversion would remain unchanged.
The proposal to rename the crime of counter-revolution as jeopardising state security was tabled in a draft amendment to LAW submitted to ORG, or parliament, on DATE.
Following approval by the standing committee, the amendment that reduces the scope of the crime to CARDINAL offences from CARDINAL would be sent to the DATE session of parliament DATE for final ratification, a parliament official said by telephone.
The proposal to change the name of the crime ""was made in consideration of changed circumstances and the overall interests of the country"", the ORG quoted PERSON, vice-chairman of ORG, as telling parliament.
The crime of counter-revolution was placed on GPE's books after Chairman PERSON swept the communists to power in DATE and launched DATE of radical rule when to be revolutionary were marks of a correct political attitude.
The crime of counter-revolution has for DATE been a catch-all to imprison anyone of whose opinions the state disapproved or whose opinions disapproved of the state.
Its victims have ranged from writers condemned as rightists in DATE and those who criticised PERSON during the ultra-leftist DATE Cultural Revolution, to teenage students who took to the streets in DATE to demand more democracy.
Among the most prominent dissidents serving lengthy jail terms for counter-revolutionary crimes is PERSON, regarded as the father of GPE's struggling pro-democracy movement and sentenced DATE to DATE for plotting to subvert the state.
Wei was previously sentenced to DATE in prison for counter-revolutionary crimes after he wrote an essay during the DATE Democracy Wall movement calling for FAC -- or democracy.
ORG's ORG praised the use of counter-revolutionary crime to safeguard state security, but said times had changed.
""Political, economic and social development in DATE has given birth to a series of new problems,"" ORG said, referring to the shift away from revolution to define political correctness that has been generated by the pragmatic reform policies of paramount leader PERSON.
Under the draft amendments, counter-revolutionary activities as now stipulated will remain a crime -- with the exception that offences such as murder, manufacturing firearms and stealing guns will be excluded and handled as ordinary criminal acts.
Activities that aim to overthrow the dictatorship of the proletariat -- or subversion -- remain covered by the new crime of jeopardising state security, the parliament official said.
Under other amendments to the criminal law, an act not specifically covered cannot lead to a criminal conviction. Currently, people can be convicted based on a similar crime.
New offences will be added including organised crime, computer crime and manipulating stock markets.
Police acting in the line of duty will no longer bear criminal responsibility for causing death or injury.",0
"GPE Vice-President PERSON could visit GPE in DATE if he was re-elected DATE, a senior GPE official said in GPE on DATE.
""We have sent a proposal here and it's been reviewed and I don't think there's any real disagreement,"" GPE Assistant Secretary of ORG for NORP and ORG PERSON said when asked if PERSON had any plans to visit GPE.
""The vice-president is very interested in trying to establish...a sustainable development forum here between (NORP Premier) PERSON and the vice-president,"" she told a news conference.
No specific date has been set for PERSON's visit.
""We are now discussing terms of reference for that and there's every expectation that if those terms of reference are worked out, the vice-president will make a visit in DATE,"" she said.
Asked to elaborate on the terms of reference, PERSON said: ""We just have to have sort of a set of operating rules and subjects we're going to talk about.""
A visit by PERSON could improve often stormy NORP-U.S. ties, which plunged to their lowest ebb in DATE after GPE enraged GPE by allowing GPE's President PERSON to make a landmark, private visit in DATE.
GPE and GPE have been diplomatic rivals since PERSON ORG defeated and drove PERSON NORP troops into exile in GPE at the end of EVENT in DATE.
GPE regards GPE as a rebel province and has sought to push the island into diplomatic isolation.
GPE Secretary of ORG PERSON is due to visit GPE in DATE and NORP Defence Minister PERSON plans to make a long-delayed trip to GPE before DATE.
GPE postponed PERSON's visit to GPE in DATE, infuriated by a GPE decision to order CARDINAL aircraft carriers into seas near GPE as the island inched towards democracy -- holding its ORDINAL direct presidential elections -- in the face of missile tests and live-fire war games.
GPE and GPE have also wrangled over alleged sales of nuclear technology by GPE, human rights abuses in GPE and trade issues.
GPE has bitterly accused GPE of blocking its bid to gain admission to ORG.
GPE and GPE narrowly avoided a trade war in DATE and DATE over widespread copyright piracy.","GPE's oil and chemical trading giant ORG hopes to list shares in GPE as a ORDINAL step in its plan to become a world-class conglomerate, a top official said on DATE.
""Our objective is to build our company into a transnational conglomerate,"" President PERSON said.
""We are looking at big NORP and NORP conglomerates as models,"" he said.
PERSON, speaking to reporters and security analysts at ORG's GPE headquarters, did not say how many shares would be offered or who much money would be raised.
Timing would depend on the GPE stock exchange, which was now reviewing ORG's plan.
However, company officials said the review period might be longer than usual because the firm was a trading operation and had no production in GPE.
The company had said DATE it was confident of the success of its application and expected to be listed in DATE.
ORG would retain PERCENT control of the listed company, Zhang said.
ORG, whose full name is ORG, had net assets of MONEY at DATE. Besides oil and chemical trading, its operations range from oil refining to shipping, warehousing and finance.
ORG officials said the company accounted for PERCENT of all of GPE's oil imports and PERCENT went through a joint venture in which it had a PERCENT stake.
Company officials said ORG had net profits of MONEY DATE, down from MONEY in DATE. Turnover rose to MONEY from MONEY in DATE.
Asked why profits slid when revenues rose, officials said market conditions were to blame. They did not elaborate.
The GPE listed unit would be ORG and would include oil and other commodities trading operations in GPE as well as trading vehicles in GPE and GPE.
ORG Chairman PERSON declined to give the value of the assets of the GPE listed company, but said they would not include ORG's big GPE arm.
""ORG would be too big to be put into LOC,"" he said.
Asked if this suggested another listing, for the GPE operations, PERSON said: ""If the Singarpoe listing goes smoothly we might try other centres.""
If the offer gains clearance form the GPE stock exchange, GPE's ORG is expected to be the lead underwriter.",0
"Media magnate PERSON said on DATE that DATE performance of his global media group, ORG, had been below expectations, but that he was still confident of a PERCENT profit rise in CARDINAL.
""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,"" he said.
In DATE, ORG net profit slipped to MONEY (MONEY) from MONEY in DATE.
He 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, he said.
However, ORG NORP newspapers were doing extremely well, with circulation at ORG climbing with little promotion while advertising in GPE was booming.
PERSON, ORG chief executive and chairman, also announced the group now had MONEY in cash in the bank after recent GPE bond issues and would leave it there.
He also said that News now planned to fund future expansion from cash flow where possible.
""We know that we have to be not only viable and profitable, but also that we should stay strong and liquid,"" PERSON said.
""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.
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.
He also later said News' NORP satellite pay television operation, ORG, was performing well.
A$1 = US$MONEY","GPE's top banks are touting a plan to lift a DATE ban on holding companies as the cure for what ails their industry, but analysts say it will take more than that to solve their problems.
""We doubt that a simple change in ownership structure will result in aggressive restructuring of financial institutions,"" said PERSON, a strategist at ORG (GPE).
She said restructuring was dependent on the will of managements, and it was doubtful if holding companies alone would spur the necessary changes in the troubled industry.
The banks, groaning under massive bad loan problems, fear that GPE's ""Big Bang"" reforms will lead to a bloodletting that could end in the collapse of financial institutions which are in poor financial health.
Many bank officials see the holding company route as the key to coping with the reforms, which are designed to liberalise the nation's financial markets by DATE.
Under a holding company, barriers between banks, brokers and insurers could be broken down and major banks could streamline their financial groups and bail out weaker affiliates.
The umbrella companies would also allow huge, inefficient corporate giants to split into several leaner operations.
But most analysts are unconvinced about the banking industry's willingness to tackle large-scale streamlining.
""The market has been becoming more critical of NORP banks in the past one or DATE as they have delayed their disclosure of problem loans,"" said PERSON, a ORDINAL vice-president at ORG.
Banks still appear to be hoping for a soft landing scenario and they lack a sense of crisis control, ORG said.
Bankers, meanwhile, say they need a freer hand to establish financial holding companies.
""Concern is growing about NORP banks' declining international competitiveness, so I would like (the government) to make sure that nothing will be done to reduce the effectiveness of holding companies,"" PERSON, the chairman of ORG, told reporters DATE.
If all goes as planned, GPE will overturn the ban DATE. It was imposed by ORG forces DATE to break up powerful conglomerates known as ""zaibatsu"".
GPE's ruling ORG and its policy partners are in last-ditch talks on to issue, and if they agree the government will submit a bill to parliament in DATE.
ORG has also begun to work out necessary revisions in financial laws to enable the establishment of financial holding firms.
The corporate structure of a holding company will also make it easier and less costly to combine poorer-performing banks than a corporate merger, banking officials said.
In a merger, NORP banks find it difficult to smooth relations between CARDINAL distinct corporate cultures, and layoffs are also hard to justify when CARDINAL banks merge, they said.
A holding company system would also allow big city banks to team up with regional banks. Regional markets offer the promise of new business for the big banks, they added.
PERSON, an analyst at ORG, said many banks saw holding companies as a tool to give them greater management flexibility. ""I expect big commercial banks will benefit most from holding companies,"" he said.
Analysts and bankers say, however, that there are a number of obstacles involving tax, commercial and securities rules which must be addressed before holding companies can be practically implemented.
Unless GPE introduces a new corporate tax system in which tax is calculated based on the combined profits or losses of group companies, there will not be many cost benefits in setting up a holding company, they said.",0
"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 the 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.
Even though, privately, ORG executives concede that the cost could be MONEY, they say they will try to contain costs to MONEY.
ORG is a consortium made up of NORP state-owned ORG, ORG, ORG (a unit of ORG) and ORG (ORG) of GPE.","GPE's economy grew by PERCENT in DATE, but many urban family incomes are lagging behind, ORG said on 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 income for urban NORP 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 ageing 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 bugbear 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 to 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.",0
"After several shaky starts, GPE's commercial property market looks set to build on some improvement during DATE, but property experts stress there will not be a return to the sort of boom seen during DATE.
""This is LAW. That is the growing opinion among investors when they consider the recovery now underway in the GPE real estate market,"" said PERSON of property consultants ORGamp; PERSON in his DATE outlook.
Hutchings predicts real rental growth of PERCENT in DATE and possible total returns of PERCENT for institutional quality portfolios. This should outstrip the return on gilts and may surpass equity returns too, he adds.
But uncertainty ahead of a general election, which must be held by DATE, means a ""gradual but sustained upturn"" is more likely than a market boom, he said.
Improved signs of demand, particularly for office space in central GPE and retail developments, especially shopping centres, have raised expectations. ""The feeling is generally that DATE is going to be a good one,"" a senior property analyst at another leading firm of advisors told ORG.
This view is supported by a recent survey by ORG (ORG) and property consultants PERSON which was also cautiously bullish. It found increased business confidence meant a ORDINAL of NORP firms expect to raise property holdings over DATE.
The DATE survey, which canvassed CARDINAL private sector firms across the range of sectors and regions in GPE, found PERCENT of companies expect to increase property holdings, PERCENT see a reduction and CARDINAL envisage no change.
NO DRAMATIC SURGE IN DEMAND
""We expect a steady improvement rather than a dramatic surge in property requirements. The net balance on this survey is plus PERCENT over DATE,"" ORG, PERSON's head of research, said DATE.
PERSON of the ORG said firms expect a further pick-up in business, led by domestic demand. ""With profitability set to grow faster over DATE, the upturn in the commercial property market is becoming more firmly based.""
The ORG/Grimley survey predicts such growth will be strongest in the northwest of GPE, followed by GPE, GPE and GPE.
Larger companies are expected to lead the charge with those involved in distribution, transport and communications citing expanding capacity as the main spur in giving the go-ahead to capital expenditure on property.
The survey found smaller firms, as well as those involved in metal manufacturing, chemical processing, finance and business services, said that increasing efficiency was the main factor influencing plans for investment in property.
INTERESTED INVESTORS
But companies seeking additional or new space are not the only ones likely to fuel demand for real estate during DATE. Hutchings said the recovery underway in the property market is supported by both occupational and investment demand, in contrast to a brief upsurge during DATE.
Property consultant PERSON predicts that prime investment yields will be little changed in DATE from their levels in DATE.
It forecasts the yield on City of GPE offices will be unchanged at PERCENT, while yields on offices in the area around GPE's M25 motorway and provincial towns will rise from PERCENT to PERCENT and from PERCENT to PERCENT respectively. In addition to offices, investors and property companies are particularly keen on shopping centres. ""The prospects for the retail sector are good,"" the ORDINAL analyst said.
Hutchings also forsees higher rents during DATE, fuelled by a growing economy, a shortage of top quality supply and low interest rates. Although some occupiers will hang back until after the election, occupational demand means rents will rise ""at least until new development comes forward"".
Some development has already begun and ORG says there are now growing signs ""that institutional funds will re-enter the speculative development market in DATE"" although bank lending for such schemes remains tight.
This is not the case for other projects where bank loans are more readily available and competition to lend for quality developments has led to wafer-thin margins being charged by some banks, particularly NORP lenders.
GPE LEADS THE WAY
While the number of cranes over GPE -- GPE's traditional financial heartland -- has not mushroomed, development activity has begun to pick up and more can be expected over DATE, market players said.
In GPE CARDINAL very visible factor is the heated rivalry that has emerged between the City and LOC, the former docks area to the east of the capital which is home to ORG tower, GPE's tallest building.
Firms such as GPE investment bank ORG and GPE's PERSON have still to decide on where to relocate, with others such as ORG and ORG also rumoured to be in the hunt.
And in the retail sector, DATE sale of former fashion mecca FAC by NORP property fund Wereldehave for MONEY ""is a testament to the strength of investors' faith in the GPE market"", said ORG.","GPE investment capital group ORG said on DATE the increase in its ORDINAL half net asset value (ORG) per share was healthy but had been partly held back by continental LOC and a strong pound.
""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 told ORG.
CARDINAL's ORG for the period rose to MONEY per share, from MONEY for the same period DATE.  
ORG said a better indication of the group's performance was its GPE portfolio which had performed ""extremely well"", reflected in an PERCENT growth in revenue.
He said there were still plenty of opportunities available, with the sort of companies that CARDINAL invested in doing very well. There had also been an improvement in general business confidence in the GPE, which had improved for DATE according to CARDINAL's latest survey.
""The confidence in the businesses underlying our portfolio has been so positive,"" he said. Of CARDINAL stg invested by CARDINAL during the period, CARDINAL stg was in the GPE.  
ORG said the prospect of a general election in the GPE, which must be held by DATE, had resulted in a number of investment opportunities for CARDINAL as some company founders or management teams decided to sell their holdings in a firm while there was no doubt about the tax implications.
While the NORP performance had an impact on the ORG figure, the investment opportunities for CARDINAL on the continent remained good, ORG said, adding that current pricing levels for the small and medium-sized NORP companies in which the group invests were ""very attractive"".  
During DATE, CARDINAL said, realisations on investments had continued ""at an encouraging rate"". It realised investments of CARDINAL stg in the GPE and CARDINAL stg 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 GPE, GPE in DATE. This regionalisation would involve opening offices in GPE, GPE and GPE.
And the group was also planning to extend its presence into the south of GPE, he added.  
The group also announced it would open its ORDINAL office in LOC, in GPE, early in DATE.
ORG said the area 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 start small, with a staff of CARDINAL, and would have a maximum of ""half-a-dozen"" people for DATE and would look at opportunities in GPE, the GPE, GPE and GPE but not in GPE.
-- GPE PRODUCT +44 CARDINAL 7719",1
"ORG ORG unveiled the company's next productivity suite, SmartSuite 97, and said the product will begin shipping in DATE.
Lotus President PERSON said on TIME the company will continue to add Internet functionality, with a further upgrade planned in DATE.
He took a shot across the bow of ORG aspirations in challenging ORG's share of the corporate marketplace.
""If they thought the browser war was bloody, just wait,"" he said of ORG's ambition to expand its role in supplying corporate internal networks, or intranets.
""This will be a whole new level of bloodiness,"" he told reporters after the launch of the new ORG package on the eve of the ORG DATE computer show here, the largest industry trade gathering in GPE.
ORG executives made clear ORG plans to continue building new features into its applications suite, while undercutting the prices charged by market leader ORG, which dominates the market with PERCENT share.
Although the new ORG SmartSuite carries an estimated retail price of $MONEY, current ORG applications users, or those using competing products, may upgrade for just $MONEY.
Those buying the current ORG edition through DATE will receive a free upgrade and a $MONEY rebate, bringing the effective price to $MONEY.
Users of certain recent GPE applications packages will be allowed to trade these in for a free CD upgrade to the current SmartSuite for Windows CARDINAL or Windows 3.1 by DATE.
Papows cited a DATE ORG survey showing the size of the suite application market growing from MONEY in DATE to MONEY by DATE.
ORG achieved a PERCENT share of unit volume in DATE, according to IDC data, and has benefited from CARDINAL units sold through computer makers worldwide in DATE of its preloading program.
Online registrations in this program have been rising PERCENT DATE, and retail sales have soared PERCENT, the ORG executive said.
Lotus aims to differentiate its productivity suite by providing the ability to easily find, share and collaborate, as well as publish, using Internet technology.
SmartSuite 97 works on ORG's QUANTITY and Windows NT CARDINAL operating systems, and permits users to drag and drop Internet information for use on the desktop, dynamically update spreadsheets and conduct searches over the Web.
Lotus product managers also gave previews of ORG for the Internet ""applet,"" due to be released in DATE, to create spreadsheets, charts and diagrams within applications. An applet is a small program, written in the PERSON environment developed by ORG
ORG said it currently has CARDINAL programmers working in PERSON -- roughly equivalent to the numbers that ORG's PERSON unit itself has had, although ORG now plans to accelerate its number of PERSON programmers to around CARDINAL.
-- ORG ""CARDINAL 415 846 5400","Even before the personal computer era's foremost figures donned togas and circus suits for the traditional extravaganzas of the industry's DATE gala summit, industry titans were jockeying for the limelight.
Although the ORDINAL anniversary of the microprocessor is among the high points of this DATE's show, DATE of the industry are likely to prove even more fast-paced, and bitterly competitive, according to senior executives.
DATE promises a flurry of new products -- and whole new categories of products ranging from hand-held Windows PCs to new species of the controversial new ORG to fast new computer modems and the launch of DVD, digital video disk.
The latter technology holds many times the amount of data available on the conventional CD-ROM devices which now come as standard on many desktops, and is likely to appear DATE on machines ranging from laptops to home theatre televisions.
Not only will people be able to play full-length movies on their laptop devices, but the new medium is expected to unleash a whole new genre of computer games using sophisticated CARDINAL dimensional animation and hot new 3-D computer chips.
Although the DATE event is prone to hyperbole -- and it is expected to draw DATE executives, analysts, customers and media people DATE -- some high- profile executives believe the time has finally arrived for the long-heralded convergence of television, computers and telecommunications into CARDINAL vast, interconnected business.
""I think this convergence is starting to redefine itself as collision,"" PERSON, president and chief operating officer of ORG, the GPE operating unit of ORG told ORG on DATE of the show.
ORG expects to showcase a variety of products, including DVD technologies and its WebTV set-top box, which turns a television into a simplified Internet browsing device.
The opening keynote of the DATE event will be ORG Chief Executive PERSON, who under the theme ""WORK_OF_ART,"" will trace the history of the microprocessor which turned ORG from a fledgling chip company into the world's largest semiconductor company.
Grove will also provide live demonstrations of how personal computers can already be used for sophisticated applications DATE for complex graphics displays. He will outline goals and challenges facing the PC industry over DATE, with projections for DATE.
On DATE, ORG Chairman and Chief Executive PERSON promises to issue a challenge to the industry in a keynote speech whose title harkens back to Gates' ""WORK_OF_ART"" address here DATE.
Gates, who recently republished his book, WORK_OF_ART,"" in paperback, has said the industry is too optimistic about what it can produce within a short, DATE time frame, but far too pessimistic about what can be achieved in DATE.
ORG Chief Executive Officer PERSON on DATE will make the ORDINAL of a trio of keynotes that day, providing insight on how the pioneer of Web browsers sees competition moving to internal corporate networks based on Internet technology, known as intranets.
But the celebrations begin already on TIME, as ORG ORG officially launches its PRODUCT for Windows 95 and Windows NT at a lavish gathering to be followed by ORG's famous ORG.
ORG is due to unveil the PERSON PC (HPC) devices running its Windows CE consumer electronics version of its system at a WORK_OF_ART bash complete with a Cirque du Soleil performance.
A handful of major computer companies, including ORG, ORG and ORG, are due to unveil mobile Windows CE-based handheld devices.
On DATE, ORG is due to show off the master version of its lastest productivity suite Office 97, enabling a direct comparison between its offering and Smartsuite 97.
ORG, still seeking to recover from huge losses over DATE, is expected to counter the Windows CE launch with more industry-focused adaptations of its DATE GPE handheld technology.
The company may also seize the opportunity to provide more details of its future technology plans, as rumours continue to swirl over discussions it has had with startup Be Inc., which has been working on a speedy new operating system.",1
"The NORP government on DATE published proposed new laws governing home lenders which watered down the building societies' immunity from takeover if they converted into banks.
The new legislation provoked a cool response from some home lenders and prompted CARDINAL leading player to say its plans for conversion may well have been different if it had known what the government was planning.
Under the new draft law, a building society  would forfeit its DATE immunity from takeover after it converted to bank status if it took over another financial institution.
The Woolwich, which has assets of MONEY (MONEY) and plans to float DATE, said it was disappointed the government had not taken account of 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.
The ORG acknowledged the new WORK_OF_ART might not even make it to the statute book before an election because of a lack of parliamentary time between now and DATE, the last date for the polls to be called.
If it went ahead, the PERSON spokeswoman said the board would have a duty to revisit its conversion plans.
The Alliance & Leicester in a statement also expressed disappointment, and said areas of concern ""have still not been fully resolved.""
""We will now need to move forward while carefully considering outstanding issues,"" the ORG statement said, noting the move came in the middle of ""a long and costly conversion process"".
In contrast the LOC, a ORDINAL society which plans 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 can't ask for more than that.""
A ORG spokeswoman said it still hoped to find time for the bill in the Parliamentary agenda 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.""
ORG 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. ($MONEY Pound)","BZW, the investment banking arm of ORG, said on DATE it plans to use state-of-the-art defence technology to help it with a perennial problem -- managing risk in the financial markets.
The bank has formed ORG to develop new risk management solutions, using the scientific and computing potential of ORG of ORG -- the biggest research and development organisation in LOC.
Also involved in the project, which has funding of MONEY (MONEY) for DATE, are ORG, insurance company ORG, ORG, ORG and risk management consultancy ORG.
The NORP government is providing a grant of QUANTITY for the project and BZW is putting in CARDINAL over DATE.
With margins getting ever finer in the highly competitive investment banking world, BZW hopes defence technology can help it keep ahead.
""We have to manage our risk well,"" said PERSON, global head of money markets at BZW. ""We want to start setting the standard and make strides to be ahead of the pack.""
Dooney and DERA scientists believe there is enough common ground between the worlds of the trading room and the battlefield to make the exercise worthwhile.
""The risks are obviously different,"" he said. ""For the crew of a main battle tank it could be the missile defences of the opposing force and for the bond trader it could be the movement of short-term interest rates.""
But Dooney said there are many similarities, not least the fact that that both are high-stress environments which both require the sophisticated modelling and simulation techniques which have, until now, been largely the preserve of the defence industries.
CARDINAL reason for this is that research into this field needs massive computing power which DERA can provide via its CARDINAL ORG super-computers which are CARDINAL of times more powerful than the average desktop PC.
BZW believes the project can help people at every level in the company to better understand the firm's risk position by replacing a mass of numbers by visualisation techniques.
The project will also look into using modelling techniques used to develop military consoles to look at the design of future trading stations and try to develop different ways of evaluating dealer performance.
This will, in particular, provide early warning of problems based on trading pattern evidence.
""The financial services industry wants something that it can use in the heat of battle,"" said PERSON, development director at ORG.
""If financial markets are destabilised they could be as, or even more, damaging than a conventional war.""
$1=.5976 Pound)",1
"A battle to revolutionise NORP television with more channels, high-quality pictures and CD-quality sound began DATE when CARDINAL new TV groups applied to run GPE's key digital terrestrial television services.
Leading heavyweights BSkyB, ORG and ORG are teaming up to create a formidable new company -- ORG.
It plans to offer an initial CARDINAL channels including subscription channels from ORG .
The group faces competition from GPE's ORDINAL largest cable operator PERSON, which is wholly-owned by GPE cable company ORG, and which also owns ORG, CARDINAL of CARDINAL major NORP transmission companies.
This group, which plans to offer CARDINAL channels, interactive services such as home shopping and home banking and information services, is called ORG (ORG).
""This is the most exciting development in broadcasting since the introduction of colour,"" said DTN Chief Executive PERSON. ""We are on the brink of a revolution in entertainment, information and telecommunications.""
PRODUCT gave away few clues about where the group is planning to get its programmes from, saying only that it had ""the best sources in the GPE and GPE"" Its investment plans are also still subject to confidentiality agreements, although the group says they will be ""obviously substantial.""
If the BSkyB camp is successful in winning the licenses, the shareholders have agreed to meet between them a peak funding requirement of MONEY (MONEY). The company is expected to be profitable within DATE.
The BSkyB/Carlton/Granada/ORG venture plans CARDINAL premium subscription channels showing top GPE movies and sports. Another CARDINAL channels will be offered as part of a basic subscription package.","U.S./Canadian mobile satellite communications group ORG is near securing MONEY of the MONEY it needs to launch CARDINAL satellites into orbit from DATE, an industry source said.
The group -- the joint project of GPE aerospace giant ORG and GPE's telecoms firm ORG -- is CARDINAL of CARDINAL main rivals that want to allow subscribers to receive voice, faxes and paging services anywhere in the world using only a pocket telephone.  
""We're pleased with the progress we have made in bringing together a global team of national service operators.""
ORG declined to name the companies attending the meeting, citing concerns for confidentiality. But it said there were representatives from companies in LOC, LOC and GPE.
So far, the company has received letters of intent, which are non-binding until the initial round of financing is closed.  
Although the company has dismissed speculation that it has had difficulties finding backers for its system, its plans to launch the satellites have been delayed by DATE.
However, after representatives from CARDINAL strategic partners in the company met in GPE to review the planned project, the source told ORG: ""The ORDINAL round of financing is expected to be completed in DATE.""
""This meeting marks the ORDINAL time we have all met around the same table,"" said ORG (ORG) managing director PERSON in a statement.  
""Participants in the meeting were enthusiastic and confident about PERSON's business plan and system design,"" PERSON, a managing director of ORG said in a statement.
The ORDINAL and ORDINAL phase of funding is expected to include further equity and an element of debt finance, the source said.
The worldwide market for personal satellite telephones (satphones), that seeks to replace the cumbersome suitcase-sized terminals costing MONEY per minute to use, has been estimated by some analysts to be worth MONEY in global DATE revenues by DATE.  
The main contenders for their share of the hand-held satphone market are ORG, backed mainly by GPE technology gaint ORG, GPE aerospace firm ORG and Qualcomm's Globalstar and ICO Global, a spin-off of international telecom consortium ORG.
Odyssey wants to launch its satellites into ""medium-Earth"" orbit -- CARDINAL kms from the earth's surface. CARDINAL Earth stations, linked by a global fibre-optic network, are also part of the patented PERSON system.  
The company has started legal proceedings against ORG for alleged infringement of its medium earth orbit technology patents.
-- GPE PRODUCT +44 CARDINAL DATE",1
"Foreign investors seeking access to GPE could consider the road industry, which needs MONEY in foreign money to complete CARDINAL national highways by DATE, GPE said.
Low rates of investment are considered largely responsible for clogged highways in GPE, where CARDINAL counties and CARDINAL villages had no road access at DATE.
Road building has not kept pace with the growth in civilian vehicles, which has risen a compound PERCENT DATE DATE -- roughly in line with the country's rapid economic expansion.
By comparison, the total length of highways over the same period has increased only by PERCENT a year.
""The main reason behind this slow development in GPE's highway network is the insufficient investment in the sector,"" SBC GPE said recently.
Investment is a pressing problem with GPE's ambitious plan to build a network of CARDINAL national trunk routes totalling QUANTITY by the DATE, with the ORDINAL CARDINAL highways to be completed by DATE.
Total construction cost is estimated at MONEY (MONEY) over DATE, most of which will come from domestic funding, ORG and ORG.
""However, it is estimated that MONEY will have to come from foreign investors,"" SBC GPE said.
Foreign investors ORDINAL started entering GPE's road industry during EVENT, and the resulting investment helped to accelerate the expansion of PERCENT to CARDINAL km DATE.
Among the better-known foreign-invested higways are ORG GPE-Shenzhen Superhighway; ORG GPE Northern Ring Road, which opened in DATE; ORG, which signed its ORDINAL toll road joint venture in DATE; ORG ORG.
GPE and Guangzhou Investment are also active players.
Most projects are toll roads, which ORG warned can be difficult to set up and operate in GPE. Central and provincial approvals are required and collection can be fraught with ""natural"" hazards such as traffic accidents and robberies.
""It does not seem to us, however, that such irregularities are damaging the investment merits of NORP toll roads, if the investor can work closely with the local authorities on containing the leakage at some pre-determined levels,"" the broker said.
There are clear signs that GPE is actively encouraging foreign investment in this sector.
Expressways, tunnels and bridges are open to PERCENT foreign ownership and there is no limit in foreign participation in NORP joint ventures on ORDINAL and ORDINAL-class highways.
Experiments with various types of funding sources and investment structures are being encouraged.
And, as part of the central government's efforts to promote a more standardised build-operate-transfer structure for infrastructure projects, it is preparing to offer a bridge in GPE for international tender.
""We expect the market to be increasingly open to foreign participation, as additional funding sources help attract more investors and reduce financing costs,"" SBC GPE concluded.
-- GPE (CARDINAL) 2843 6470","GPE's long-delayed bid to enter ORG will fall under the spotlight when the world's richest nations meet to discuss its application DATE, NORP and GPE officials said on DATE.
Delegates of the Quad -- GPE, GPE, GPE and ORG -- will meet for lunch on DATE on the sidelines of the ORDINAL ministerial conference of ORG (ORG) in GPE, the officials said.
ORG (ORG) was trying to bring GPE on board regarding its proposal that GPE enter the world trade body through a phased accession process, CARDINAL ORG official said.
GPE says GPE must comply with a ""road map"" to open its markets and eliminate trade and non-trade barriers before it can win GPE support for its entry.
GPE had hoped to culminate its DATE bid to join LAW by becoming a founding member of the ORG at its inception DATE.
Its application foundered on opposition over entry terms, with GPE maintaining that the price of the road map was too high. Talks continue at a snail's pace in GPE.
CARDINAL aim of DATE's GPE meeting would be to try to narrow differences between GPE and LOC over terms for GPE's entry, terms used by GPE to play CARDINAL side off against the other, CARDINAL ORG source said.
Outlining his key objectives for the DATE ministerial conference in GPE, ORG Commissioner for Trade Sir PERSON, stressed the need to relaunch in earnest negotiations toward NORP membership.
""We have the remarkable changes going on in GPE, as well as a continuing process of economic renewal elsewhere in LOC and in LOC...Hence the urgent need for ORG enlargement,"" PERSON told the conference opening session.
Brittan has visited GPE several times in DATE and has said he received a warm response from GPE to the phased accession proposal.
In his opening address to the conference, GPE Prime Minister PERSON also backed GPE's entry in a reference to pending memberships, although he repeated GPE stand that new applicants must meet the necessary criteria.
""Some of these new entrants are significant economic players, like GPE and GPE, their entry into the ORG would have a positive impact on the rules-based multilateral trading system,"" PERSON said.
Senior NORP analyst PERSON said DATE GPE was unlikely to concede on its demand to enter the ORG as a developing country and has the patience to hunker down for a long wait to win accession on its terms.
GPE insists that the size of GPE's economy ranks it as a developed country.
A goal of DATE entry seemed an ambitious target given the distance between GPE and GPE on so many issues, but PERSON said he hoped to see entry by DATE.
GPE's Foreign Minister PERSON said DATE that talks with GPE on entry could be wrapped up by DATE.",0
"GPE charged on DATE that politics was holding up its application for entry to the world trade body, ORG (ORG), and said it wanted to join as soon as possible,
""The accession of the applicants to the ORG has been slowed down due to political consideration and the excessive demand for immediate commercial benefits,"" GPE's Deputy Minister of ORG told the ORG ministerial meeting in GPE.
In a thinly veiled attack on GPE, PERSON accused some members of taking advantage of the negotiation process to resolve bilateral trade disputes not relevant to ORG rules.
""As a result, some accession negotiations have encountered undue delay, which has slowed down the process of economic globalisation,"" he said.
GPE was bitterly disappointed when it failed in its DATE bid to join LAW by becoming a founding member of the ORG at its inception DATE.
GPE has met particularly stiff resistance from GPE, which disputes GPE's demand it join as a developing country and says the size of GPE's economy means it should enter as a developed nation.
GPE also says GPE must comply with a ""road map"" to open its markets and eliminate trade and non-trade barriers before it can win GPE support for its entry.
GPE maintains the price of the road map is too high, and talks continue at a snail's pace at ORG headquarters in GPE.
""The NORP government has consistently held a positive attitude towards joining the ORG not because we believe the membership will bring out miracles to our economy and foreign trade,"" he said.
He welcomed an initiative by ORG to support phased accession for GPE.
""We...hope the positive attitude will be translated into actions in resolving specific actions in the negotation,"" Long said.
""On our part, we shall take a flexible, pragmatic and forward-looking attitude and in the hope that other members will do likewise,"" Long said.
Long said GPE was keen to join the world trade body as soon as possible and repeated GPE's official stand that exclusion of the world's fastest-growing economy from the ORG would benefit no one.
Asked when GPE hoped to see accesion, PERSON said GPE had never specified a timetable, but added: ""We hope it can be rather quickly.""
Senior NORP analyst PERSON said in an interview DATE that GPE was unlikely to concede on its demand to enter the ORG as a developing country and had the patience to hunker down for a long wait to win accession on its terms.
A goal of DATE entry seemed an ambitious target given the distance between GPE and GPE on so many issues, but PERSON said he hoped to see entry by DATE.
GPE's Foreign Minister PERSON said DATE that talks with GPE on entry could be wrapped up by DATE.","A GPE judge said DATE that he was inclined to let stand civil claims filed under state anti-racketeering laws against the tobacco industry.
Speaking from the bench at the start of a preliminary hearing, GPE Judge PERSON said he was inclined to let stand claims filed by the state using GPE's LAW, which could mean more losses for cigarette makers.
""It would seem that the state can maintain the LAW actions,"" PERSON said.
The claims under state LAW laws were added DATE to the state's existing lawsuit that seeks MONEY compensation for treating smokers' illnesses.
The judge said he would not make up his mind until the end of oral arguments on DATE.
He gave no timetable for making public his decision on a request by ORG. and other cigarette makers that the claims made by the state under LAW laws be thrown out.
GPE State Attorney General PERSON said before the hearing that a victory against tobacco companies using the LAW law would allow the court to triple the MONEY in damages claimed by the state.
He also said a victory in GPE using its LAW law would widen the war against the tobbaco industry by possibly allowing other states to sue under their own LAW laws.
Lawyer PERSON, representing the tobacco industry, said that lawsuits brought by state governments under anti-racketeering laws were meant to demonise cigarette manufacturers and turn NORP against a legitimate industry.
Nathan argued that the LAW laws did not apply to the tobacco companies that are also being sued in GPE.
The state of GPE in DATE filed a lawsuit against the tobacco industry, seeking MONEY or more for health care costs paid for poor people afflicted with smoking-related ailments.
DATE the state amended the suit using the LAW law and claiming that the tobacco companies had conspired with one another to confuse NORP about the dangers of smoking.
PERSON is not expected to rule for DATE on the tobacco defendents' request that the LAW claims be dismissed but he said in opening remarks that 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.
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 were about much more than mere money. 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.",0
"The largest electricity provider in GPE marched into LOC on DATE with a MONEY deal to buy independent GPE power producer, ORG
GPE-based ORG said it made a general offer to all ORG's shareholders after agreeing to buy most of a PERCENT stake held by ORG parent, ORG  
""The plan is to use this company as our growth vehicle in LOC,"" PERSON, regional director of ORG, a unit of ORG, told a news conference in the NORP colony.
""We think we paid a fair price and we see it as completing our geographical diversification from GPE,"" he said.
Hopewell said NORP aims to acquire PERCENT of ORG's shares through a straightforward cash deal of CARDINAL per share, or a cash and stock offer, he said.  
PERSON has already agreed to PERCENT of its stake under an alternative cash and stock option, which offers CARDINAL new ORG share, cash of ORG and a contingency payment of HK$8.00 for every CARDINAL ORG shares.
The contingency payment depends on the company managing to secure a limited recourse debt for a power plant in GPE.
Hopewell will retain PERCENT of the new company depending on which option shareholders choose.  
ORG's planned acquisition of PERCENT of ORG's shares will effectively privatise the company, reducing its public float below GPE stock exchange requirements and requiring it to de-list.
Shareholders, banks and regulators must still approve the deal, with shareholder meetings slated for DATE. Closing is expected before DATE.
Both NORP and ORG said the takeover complements each other's strengths, with NORP renowned for its operating ability and CEPA CARDINAL of the ORDINAL to exploit LOC's quickening thirst for power.  
""This is, we felt, a very, very good marriage,"" said PERSON, ORG's chief executive officer and managing director. ""If we're going to see NORP growth as everyone has predicted, a massive amount of power is required.""
Founded in DATE as a holding company for PERSON's power assets, ORG owns some of southern GPE's largest power plants.
Its flagship ORG in GPE was completed in DATE at a cost of MONEY followed by the DATE start-up of the MONEY GPE power station.  
CEPA also owns substantial assets in the GPE, and said it is negotiating to build more generating plants in southern GPE, the GPE, GPE, GPE and GPE.
PERSON said NORP was committed to pursuing all ORG's existing plans, which he hopes will be augmented by ORG's expertise and financial muscle.
""We are very optimistic about the future... We would hope we would have some announcements in relation to new power plants (in DATE),"" PERSON said.
PERSON and PERSON, ORG's executive chairman and the founder of GPE, will remain in place, he said.","DATE after ORG created the PRODUCT brand to entice more import buyers, the automaker is dropping the name, though it will continue to sell the FAC, ORG and PRODUCT models as ORG vehicles.
ORG General Manager PERSON said the ORG image and its products have improved to the point where it no longer needed the PRODUCT badge to attract new buyers.
Middlebrook said the move also fitted in with ORG's efforts to unclutter its numerous brand images among consumers.  
ORG created the PRODUCT brand in DATE as a sub-category of ORG by renaming several ORG vehicles. The name PRODUCT, created under the direction of former ORG Chairman PERSON, was meant to signify a world car.
ORG plans no changes to the joint venture agreements that produce the PRODUCT vehicles. The PRODUCT, essentially the same car as the PRODUCT from ORG, is made by ORG, a GPE, Calif.-based venture with ORG.
Both the FAC and PRODUCT are produced in ORG, GPE, at ORG, ORG's joint venture with ORG  
Middlebrook, who took over as general manager of ORG in DATE, said the move has been under consideration for some time, following the renewed strength of the ORG brand.
ORG, which currently has CARDINAL different products, has introduced CARDINAL new models since DATE. Consumer research has shown that awareness levels and purchase consideration jump PERCENT when target buyers compare ORG with PRODUCT, the company said.
""It's the strength of the ORG brand that's driving this,"" Middlebrook said.  
In a sign that ORG still has an image problem with import buyers, PRODUCT sales lag those of its Corolla sister by a wide margin. The PRODUCT sold CARDINAL units through DATE, compared with CARDINAL for the Corolla.
Sales for all CARDINAL PRODUCT vehicles have fallen since reaching a high of CARDINAL in DATE. Sales for DATE totaled CARDINAL. Although that was an increase of PERCENT over DATE, the vehicles carried rebates ranging from MONEY.  
In selling the PRODUCT as a ORG, the division's CARDINAL GPE dealers will have a car similar in price and features to the ORG sedan.
However, PERSON, PRODUCT brand manager, said ORG did not anticipate too much duplication because traditional PRODUCT buyers are different from typical ORG buyers. For instance, he said the PRODUCT outsells the GPE in GPE.
Analysts reacted favorably to the move, saying it demonstrates another step by ORG to use its marketing and advertising resources more efficiently.  
PERSON, an analyst at ORG, said it was also not out of the question that ORG would eventually drop some of the current PRODUCT models.
""I would guess at some point in time they would do some additional pruning,"" he said.
ORG, which will gain some marketing efficiencies through the move, will pay for the new signs that dealers will be required to put up, ORG said.
PERSON, a ORG-Geo dealer in GPE, GPE, said dealers were in favor of the move because it would bring a simpler image to the ORG brand.  
""Frankly, I haven't had anybody walk through the door and say they want to buy a PRODUCT,"" he said.",0
"NORP privatisations in DATE could total MONEY, with the telecommunications and utilities sectors expected to dominate activity, GPE investment bank PERSON said in a report on DATE.
""Compared with DATE, we expect a significantly higher number of IPOs (ORG Offerings)...GPE stands out as having the most ambitious (privatisation) programme, at MONEY,"" said PERSON, CARDINAL the survey's authors.
The report said in the run up to ORG (EMU), NORP governments ""may feel under increasing pressure to accelerate...privatisation programmes to place themselves on track to meet the GPE PERCENT deficit criterion"".
Proceeds could be used to reduce government's financial debt, although they cannot be taken into account when calculating the deficit.
It said proceeds of NORP privatisations in DATE totalled MONEY, a PERCENT increase on the previous high in DATE, bringing the total value of the NORP privatisation programme so far to MONEY.
And the total estimate for the proceeds of privatisations through to DATE could total MONEY, according to the report, which was based on CARDINAL enterprises which governments have confirmed they plan to privatise.
PERSON told ORG that the utility sector had shown the greatest slippage on scheduled privatisations for DATE with a completion rate of PERCENT, but that otherwise it had been ""a pretty good year"".
This had been fuelled by strong NORP equity markets which, excluding GPE, rose by PERCENT over DATE and also by ""the variety of small innovative deals such as share buy-backs,"" PERSON said.
Such buy-backs could, ORG said, be used by governments to dispose of residual holdings in companies during DATE.
The report said the energy sector accounted for a larger than expected portion of offerings while the privatisations of ORG and GPE's ORG ""together accounted for PERCENT of DATE proceeds"".
Demand for future offerings should be well suppored by growing domestic interest and PERSON forecasts that foreign tranches will be closer to PERCENT than PERCENT take-up by foreign investors expected in the past.
""The market has been able to absorb a lot of equities. We think the demand is there,"" PERSON said, adding there would be strong retail as well as institutional demand.
Some of the major privatisations planned for DATE which failed to see the light of day were included in the report's DATE estimates but the rest ""may be cancelled (or possibly postponed to much DATE) or may be carried out through alternative methods, such as private sales"".
But a lack of mix of new ideas, both in terms of sectors and the countries the privatisations hail from, could have a dampening effect on the market in DATE, with privatised stocks seldom able to offer the upside of consumer recovery.","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.
Under a pact announced DATE, PERSON's will pay ORG MONEY to complete its financial review of ORG and PERSON will submit a recapitalization proposal for the retailer.
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.
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.
Barney's has repeatedly said that it is not for sale but wants to talk with potential investors.
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 ORG has shuffled management to help turn around the troubled retailer, it is still viewed as weak in the luxury retail sector even as other companies are performing well.
Analysts, however, 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
"The growing attractiveness of the subprime auto lending market was underlined again DATE when ORG said it had received expressions of interest from CARDINAL potential acquirer.
Olympic expects to get a formal acquisition offer ""within DATE,"" said spokeswoman PERSON.
The company's stock price shot up CARDINAL to CARDINAL in heavy trading DATE amid speculation of a buyout.
""We don't have an offer on the table ... and we don't have a price,"" PERSON said.  
She also declined to identify those expressing interest in buying Olympic. But she said, ""Generally the kinds of companies that would look at a firm like this are other finance companies or regional banks or a conglomerate.""
CARDINAL major regional bank companies have waded into the subprime auto lending market via acquisitions in DATE. ORG bought ORG DATE, and ORG is in the process of ORG
""It's partly the banks saying they want to recapture this market share,"" said PERSON analyst PERSON.  
GPE-based ORG, as with other subprime lenders, makes loans to borrowers with credit histories classified as weak or on the average- to lower-end of prime.
""These companies exist DATE because the banks have been unable to serve these markets ... and because you don't need to be a deposit taker to make auto loans,"" Coffey said.
Returns on well-managed subprime car loan portfolios can be strong and attractive to banks, he said.
DATE, ORG warned of pitfalls in the subprime business and cautioned banks against jumping headlong into this growing market.  
Analysts said banks that could be interested in Olympic include ORG, ORG and ORG.
Also mentioned by analysts as a possible suitor was the ORG unit of ORG
Whoever the buyer, PERSON said, Olympic is ""intent on selling this company.""
He suggested the price could go higher than the $MONEY per share that other analysts set DATE as the likely top limit.
Trading volume in Olympic shares DATE was triple normal levels. ""There's some people taking some bets that it's going to go,"" said ORG analyst PERSON.
-- GPE Newsdesk 312-408-8787","Human rights activists and the computer industry joined in a rare show of cooperation on DATE, urging more effective policing of pornography and violence in the anarchic ""virtual wild west"" of the Internet.
    Stories proliferate about pornography, sexual   violence
against women and children, bomb-making recipes, incitement to racial hatred and do-it-yourself fraud schemes that are available at various computer Web sites.
""We acknowledge the problems, we're not abdicating responsibility,"" said PERSON, lawyer and rights strategy manager for Internet services at ORG.
""We do have the well-being of customers and ultimately their fundamental freedoms at heart,"" she told the ORDINAL NORP conference on combating violence and pornography in cyberspace.
Lawyers have been studying how to police what appears to be a regulatory vacuum without national boundaries -- while trying to distinguish between what is illegal and what is, more subjectively, harmful.
BT, which launched its Internet access service DATE, has adopted what it calls a ""taste and decency"" policy. Any illegal material found through its access to the computer network is reported to ORG, which was created DATE.
The foundation, which will pass on information about potentially illegal material to the police, also wants to encourage legal material to be classified, allowing users to block access to certain subjects with filtering software.
PERSON said the Internet allowed anonymous worldwide distribution of vast amounts of extremely violent material and child pornography. But access providers could not be the ""moral guardians of the nation"".
""Slow but sure is the approach we are taking,"" she said.
Speakers agreed that without knowing the names of ""obscene"" websites, even spending TIME wandering through cyberspace was unlikely to reveal anything more perturbing than walking into a newsagents. Only with ""a great level of intent and technical expertise"" was it possible to find obscene material, they said.
But NORP human rights campaigner PERSON noted that the Internet made it easier for groups, such as extreme political organisations, to communicate and gather forces worldwide.
NORP Chancellor PERSON cabinet DATE approved a bill that will ban websites spreading NORP propaganda, distributing hardcore pornography to minors and conducting fraudulent business.
The NORP division of the world's ORDINAL largest online service, CompuServe GmbH, has said it would consider moving its operations to a neighbouring country if NORP laws forced Internet companies to control porn on their networks.",0
"Gold giant ORG is negotiating with GPE's ORG to gain control of ORG huge Busang gold discovery in GPE, the CARDINAL companies said on DATE.
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 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 of the news. 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, the world's ORDINAL largest gold producer.
ORG said that 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 in an interview.
He said he had no details about how much money or stock would change hands or when a deal would be reached.
With the NORP government guiding the Busang negotiations, ORG powers to negotiate a favorable deal were curbed, analysts said.
""There have been some constraints imposed on ORG,"" said mining analyst PERSON at ORG in GPE. ""That's going to negatively impact on how much PERSON can receive for its interest.""
But ORG has an international reputation at stake and will have to be seen to treat 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 an analyst who did not wish to be identified.
PERSON shares soared on the news, gaining MONEY by TIME on ORG. They rose CARDINAL to CARDINAL on ORG.
PERSON shares fell in GPE before the news and held steady in active trading at C$MONEY, down C$MONEY, after the market digested the news.
Its stock has been volatile lately, clouded by the ownership dispute over GPE.
Busang would set PERSON well on its way to achieving its dream of becoming the world's biggest gold company.
In DATE, the company -- already LOC largest -- produced QUANTITY of gold and had gold reserves totaling QUANTITY.
It has become increasingly aggressive in moving towards its goal, analysts said.
DATE, ORG acquired ORG and its promising GPE gold property in GPE for MONEY.
-- ORG PRODUCT","ORG DATE revised its takeover agreement with ORG to give shareholders more cash in the proposed railroad merger valued at MONEY.
The new terms immediately drew fire from investors who said the value of the cash-and-stock deal remained well below that of the rejected offer from unwelcome bidder, ORG
GPE-based ORG, which announced its original offer on DATE, said its board had considered the merits of the rival bids and reaffirmed that a merger with ORG was a superior strategic combination, despite the higher offer from ORG.
""Our CARDINAL companies have now agreed to significantly increase the value to be received by the ORG shareholders, and ORG's other constituencies will continue to get tremendous benefits resulting from the ORG merger,"" ORG Chairman PERSON said in a statement.
A source close to the companies said the ORG board met until TIME and the CARDINAL companies then hammered out the new agreement in TIME of DATE.
A merger of ORG and ORG would create one of the largest transportation companies in the world, including a rail system with QUANTITY (QUANTITY) of track in CARDINAL eastern states.
Under the revised offer, GPE, Va.-based 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 each, or MONEY compared with the original pact of MONEY, market sources said.
ORG has offered to pay $MONEY a share in cash, or MONEY, for all of ORG's outstanding shares.
ORG Chairman PERSON said the company's decision to raise its cash offer followed an analysis that identified MONEY in cost savings in a ORG-Conrail combination -- MONEY more than originally anticipated.
""Clearly, the combination of ORG and ORG provides the best overall package of benefits to our constituencies, including customers, the communities we serve, and the public-at-large,"" PERSON said.
But ORG stockholders expressed opposition to the deal in a conference call with investors and Wall Street analysts. They said the new terms effectively offset recent erosion in ORG's stock price and do not significantly raise the value of the transaction.
""Some of the shareholders were really angry and said this was being crammed down their throats,"" said CARDINAL expert on takeovers who listened to the conference call.
Other sources who participated in the call said several investors threatened to tender their shares for $MONEY and then vote against the proposed merger.
In addition to the price of the ORG deal, investors were also unhappy with a DATE extension of the time in which ORG is locked into the deal. The revised pact says ORG cannot withdraw or agree to a competing bid before DATE.
""It's an outrage. This thing is now locked up tighter than ever,"" said another participant.
PERSON, meanwhile, reaffirmed its offer and said it was reviewing its options.
Wall Street analysts said they expect ORG to raise its bid for ORG in an effort to ignite more shareholder unrest with the proposed ORG merger.
They speculated that ORG could raise its $MONEY per share bid by PERCENT without hurting its balance sheet or the benefits of a merger.
""If they raise their bid, it will be the icing on the cake. It will take a bid that is superior and widen the gap further,"" said PERSON of ORGamp; Co.
""I think the price is getting rich, but I think there is at least a CARDINAL chance they come back CARDINAL more time,"" said PERSON of ORG.
In addition to the new terms, ORG also cancelled its shareholders' meeting scheduled for DATE and said a new meeting would be held in DATE.
It also said that, under the amended terms, ORG's tender offer's expiration date and withdrawal and proration rights were extended until DATE.",0
"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 defense 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 specializes 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 stabilized 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 defense 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.""","ORG is expected to report a sharp slowdown in earnings growth DATE due largely to a sales surge DATE when the software giant launched its PRODUCT operating system.
On average, industry analysts expect the company to post earnings of $MONEY a share for DATE, up PERCENT from DATE $MONEY, according to ORG.  
""It's a tough comparison because in DATE was the initial release of Windows 95 and all the sell-in associated with that, so it was DATE,"" said PERSON of Hambrecht and ORG.
But he and other analysts said ORG's business was continuing to expand steadily, benefiting from rising sales of personal computers and the increasing penetration of Windows 95 and the more lucrative Windows NT system.  
ORG's already-high profit margins also are rising as the company sells a growing proportion of its software by preloading it onto new computers or selling licenses to large customers rather than shrink-wrapped boxes at retail stores.
ORG's business is expected to gain momentum through DATE as the recently updated EVENT wins more acceptance and the company rolls out a major new version of its ORG application suite beginning in DATE.
For DATE, analysts on average see earnings of $MONEY a share, up PERCENT from DATE $MONEY, ORG said.  
""I think NT will really start ramping in DATE and in the ORDINAL part of DATE,"" said analyst PERSON of PERSON. ""It's going to be a very powerful driver of earnings,"" he said.
CARDINAL cloud on ORG's horizon is the imminent arrival of a wave of ""thin client"" products such as ORG championed by ORG Chairman PERSON.  
DATE ORG is expected to launch a line of products code-named ""Mr. PERSON"" based on the increasingly popular PERSON, which is being positioned as an alternative to the ""Wintel"" combination of ORG operating systems on ORG processors.
While corporate users are not rushing to desert their personal computer networks, the increasing publicity about alternatives could hurt ORG's stock price, which is at near-record levels and up PERCENT since its DATE closing price of $MONEY.  
""It's been a bit of a back burner issue, ... but it will move to the front burner,"" said PERSON of ORG.
ORG's earnings picture also is becoming blurred by revenue that the company defers to account for delayed costs such as service updates and technical support for its operating systems and business applications.
ORG had ""unearned revenue"" of MONEY on its balance sheet as of DATE, a figure that could rise to MONEY by the end of DATE, PERSON said.",1
"ORG won an important endorsement DATE from GPE regulators in its bid to become the first ORG to offer long-distance telephone service from its local calling region.
ORG voted to advise ORG that it appears GPE has met a CARDINAL-point checklist for opening its local phone network in the state to new competitors -- such as ORG and other companies wanting to offer local phone service.
That checklist was spelled out DATE big communications law as a condition for local carriers to offer long-distance service from their regions.
""We're extremely disappointed with this decision. It seems to ignore the overwhelming evidence that NORP faces no viable local telephone competition in GPE,"" said an ORG spokesman. An ORG spokesman was not available.
The ORG will make the final determination on whether ORG has indeed met the technical checklist for entry into the MONEY long-distance market.
But a negative review from GPE would have dimmed the GPE-based carrier's prospects considerably. ORG must issue a recommendation to the ORG by DATE.
Ameritech asked the ORG on DATE for permission to provide long-distance service to residents in GPE, CARDINAL of CARDINAL NORP states in which the company provides local phone service. GPE has CARDINAL customers in GPE.
Long-distance carriers such as ORG and ORG have called on regulators to reject ORG's request, saying the company has not yet opened its local market fully to competitors.
The GPE commission said that in a CARDINAL-1 vote among commissioners the agency authorised the filing of its comments in the GPE case with the ORG.
""For DATE, ORG has supported allowing expanded choice for telephone customers,"" said commission Chairman PERSON.
""Our comments DATE are designed to assist ORG to follow a course that will introduce more competition in the telecommunications marketplace.""
After filing its initial request with the ORG, ORG was forced to amend its application with CARDINAL pages of documents. ORG had determined that many needed pages were missing.
Other PERSON are expected to ask the ORG for similar approval soon.","Television industry moguls crafting a ratings system should spell out sexual and violence content of shows, not rely solely on a system like the motion picture code, a survey of parents issued DATE concluded.
The nationwide survey of CARDINAL parents showed PERCENT preferred a system that specified the level of violence, sex or bad language rather than the age group for which a program is intended, as the motion picture industry's DATE system does for movies.
The survey was a joint effort of ORG, ORG researchers. It came as TV executives raced to complete a ratings system in DATE.
The executives favor an approach like the alphabetical code used by ORG (MPAA) for movies. Individual networks would rate their shows.
But the survey sponsors -- along with Rep. PERSON, GPE -- want a system that covers content and viewer age.
""Parents want it all. They want every shred of information available about every program,"" said PERSON, the author of a provision in the new communications law requiring TV makers to install a ""V-chip"" in all new sets. The device can be used with the upcoming ratings to let parents block shows they consider too violent or racy.
PERSON told a news conference it would be ""very unfortunate"" if the TV industry ignored the survey results and did not incorporate the kind of system used by ORG cable-TV movie channel to rate its shows. Each ORG show is given a rating based on content such as ""MV"" for ""mild violence"" or ""ORG"" for ""strong sexual content.""
PERSON vowed the groups sponsoring the poll would ""scream to the high heavens"" if the TV ratings ignored program content.
MPAA President PERSON, overseeing the ratings' creation, said his group welcomed all suggestions. ""We are trying to devise a TV parental guidance system which will be family friendly, easy to understand, easy to use, and most of all grounded in honorable purposes so that parents can better monitor and supervise the TV watching of their children.""",1
"PERSON believes that making strategies work within the machinery of ORG will be the core both of his job as chief operating officer and when he steps up to become chief executive (CEO) in DATE.
""You can have the greatest strategy in the world, but if you dont execute, it doesnt matter,"" PERSON told ORG.
Walter, chairman and chief executive of commercial printing firm ORGamp; PERSON, was on DATE appointed by ORG as president and chief operating officer, and heir apparent to ORG CEO and chairman PERSON.  
Walter will immerse himself in the operations of ORG during DATE when he and PERSON work as a team, and emerge capable of holding the reins.
""I'm very comfortable with my ability to move this enterprise forward,"" he said in a telephone interview.
PERSON declined to outline areas where he believed ORG had failed, but underlined achieving objectives and having an appropriate cost base as his clear focus.
""We have to have a cost platform which allows us to compete effectively or we are disadvantaged even before we come into the ring,"" he said.  
Analysts have repeatedly criticised ORG's inability to meet its objectives, which has resulted in an erosion of the value of the brand name and a sliding share price.
AT&T has flung MONEY in $MONEY checks at consumer long distance customers only to find them desert again to rivals in the industry. Its share in the MONEY market has fallen to PERCENT from DATE.
""They haven't had the level of execution on the consumer side that we should have seen,"" said consultant PERSON of ORG, who is also an ex-AT&T executive.  
ORG has made repeated attempts to make money in online services and the Internet, but has sold off almost all its creative content efforts and has retreated to a core offering of Internet access.
For every acquisition that worked well, like the DATE purchase of ORG, there have been others that failed, like the MONEY DATE takeover of ORG
Adjusted for the split-off of ORG, ORG shares have fallen PERCENT DATE, about the same as the broad market has risen.  
Among PERSON's favorite quotes: ""When you hire, hire people better than you and then you'll build a company of giants. Hire people worse than you and you'll disappear.""
Printing industry analysts say PERSON has used technology very effectively to make PERSON grow, but some say growth came at a price.
""A lot of things have been going wrong,"" said CARDINAL analyst, citing the lower earnings outlook and falling stock price.
But analyst PERSON of ORG said PERSON was an effective manager.
""He tried to make people more accountable, tried to flatten some of the reporting structure,"" said PERSON.
-- ORG 212 859 1712","A MONEY merger between ORG and ORG looks as good as agreed, crystallising the largest ever international business combination in record time.
Analysts and consultants said on DATE that news of a GPE news conference at TIME (CARDINAL ORG) on DATE means the boards needed minimal time to wrap up the deal after the negotiations were reported on DATE.
ORG announced it would hold a news conference in GPE at TIME (1900 ORG).
""At this point it really does sound like a done deal,"" said consultant PERSON of ORG.
At the conference, ORG executives are likely to announce a $MONEY per share stock and cash offer valuing PERCENT of ORG that it doesn't already own at MONEY, and the entire company at MONEY, analysts said.
If ORG, with a market capitalisation of MONEY (MONEY) uses mainly stock to foot the bill, it could mean ORG shareholders would own PERCENT of the combined company.
As a single company ORGORG would be a true colossus, with revenues of MONEY, CARDINAL employees and a market value of MONEY.
In the international big league it would be behind only ORG and ORG and ORG of GPE. In LOC, it would be roughly the same size as ORG.
ORG directors, meeting on DATE in ""The ORG,"" the name ORG staff give to their granite-domed GPE headquarters, have reason to be well pleased with the deal.
Analysts say ORG management will be left in charge of the GPE market, and be given more money to fight in new markets and defend existing ones in the new deregulated environment.
""It is inconceivable to me that BT would change the ORG management,"" PERSON said.
For ORG the deal brings PERCENT fillip to a stock price that had languished for DATE, but for ORG the benefits may be more symbolic than actual, analysts say.
""What does BT get for its MONEY?"" asked PERSON of ORG.
""You only need a global strategy to serve big businesses and they already have their PERSON venture to serve that market. Other markets are regional,"" he said.
Economies of scale would be hard to find. Both companies already squeeze their suppliers to the limit, their brands are already strong in their respective markets, and geography and local market knowledge will continue to dictate fortunes.
According to CARDINAL source close to the deal, staff numbers are not going to be cut as part of the deal, although existing job and cost cutting initiatives will continue.
A final hurdle, long thought insuperable to such a deal, is GPE regulatory objections. But regulatory experts say ORG itself opened a loophole DATE.
The ORG made a ruling that said bidders from truly open markets would be allowed to exceed the PERCENT limit on foreign ownership of GPE media and communication assets.
""ORG's home GPE market is the most open in LOC and arguably the most open in the world,"" said PERSON, telecommunications director for ORGamp; ORG.",1
"Family-controlled NORP food and retailing group ORG should report a sharp rise in DATE profits on DATE, as its retail and textile business benefit from a pickup in high street spending.
""The CARDINAL parts of the business really driving the increase are the retail and clothing side which is benefitting from the feel-good factor,"" said PERSON, analyst at ORG. Analysts forecasts are centred on pretax profits of CARDINAL stg up from CARDINAL last time and a dividend increase to CARDINAL from CARDINAL.  
ORG, a food processor and manufacturer in GPE, GPE and GPE, as well as a food and textile retailer in GPE and GPE, is also widely expected to yield yet more cash from LOC.
""The feature of the figures as ever is the strong cashflow coming out of NORP sugar. Net cash should rise by MONEY which always begs the question will they spend it?"" said ORG analyst PERSON.
That would bring net cash to CARDINAL stg at DATE.  
On the retail side ORG, women's clothing chain in GPE and GPE, as well as the NORP retailing businesses -- Stewarts supermarkets in GPE and ORG and ORG -- are expected to perform much better.
However the mainstream side of the business, ORG which contributes PERCENT of profits, is likely to be slightly weaker after a hot summer in DATE affected the sugar beet crop and margins came under pressure from the strength of sterling which made NORP imports look cheaper.  
Aside from NORP sugar, analysts expect the grocery business, like milling and baking, PERSON and PERSON biscuits to show improvements.
On average analysts forecast trading profit from groceries, excluding ORG, to rise by CARDINAL stg to CARDINAL in the belief that the company has managed to claw back some of the margin on non-packaged food.
Including ORG operating profits are predicted to increase to CARDINAL from CARDINAL previously.
ORG shares have risen consistently from CARDINAL in DATE to CARDINAL-1/2p at DATE's close.
Consensus estimates, taken from a ORG poll of CARDINAL brokers, for DATE is CARDINAL, rising to CARDINAL in DATE.
The company has a return on equity of PERCENT, putting it in DATE slot in the ORG-All share food manufaturing sector of CARDINAL companies.
-- GPE PRODUCT +44 CARDINAL 6437","NORP sugar and starch producer PERSON and PERSON reported an PERCENT fall in DATE profits to MONEY (MONEY) on DATE after an earnings drop of PERCENT at its GPE subsidiary PERSON.
But the company's shares rose MONEY to CARDINAL after touching CARDINAL as company executives made positive noises about the current trading environment for corn miller PERSON, with corn prices now at more normal levels and demand rising for ethanol, which is extracted from the corn.
The price of corn now at $MONEY a bushel has settled after a much larger crop DATE of QUANTITY, ORG chief executive PERSON told ORG in an interview.
""I would like to think futures prices will stay at MONEY a bushel. At this time DATE they were up by PERCENT at CARDINAL and CARDINAL five dollars a bushel at DATE. That's unprecedented, the highest price for DATE,"" he said.
PERSON was severely squeezed DATE. On the one hand by very high corn prices, which doubled after a low GPE corn crop, and increased competition from new producers of high fructose corn syrup and on the other hand by its inability to pass this added cost onto customers.
""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 added.
Ethanol, a gasoline substitute, can also be made by corn millers but the price of gasoline was so low DATE that this option was closed. Gasoline prices have averaged MONEY a gallon so far DATE, reaching a peak of CARDINAL in DATE, up from MONEY a gallon in DATE.
""I think that obviously the world grain situation getting back to more normal levels is encouraging, the re-emergence of ethanol is quite encouraging and the PERCENT increase in sugar deliveries in the GPE is quite encouraging,"" said Pillard.
PERSON, which produces high fructose corn syrup used as sweeteners in FAC and ORG drinks, renegotiates supply contracts with soft drinks firms at the beginning of every calender year. Pillard said it was too early to comment on the next round of contracts.
""It looks like PERSON has finally hit the bottom of the cycle,"" said CARDINAL analyst who declined to be named.
Tate benefited in DATE from a recovery in the GPE sugar market where the selling price of white sugar rose after a low GPE beet crop reduced supplies.
Cane raw sugar costs declined as supplies of cane raw sugar rose due to increases in the import quota.
NORP sweeteners and starches business chipped in MONEY in DATE, down from CARDINAL, as a result of ORG.
NORP profits rose CARDINAL to 152.5 million pounds, with increased security of supply to ORG's sugars from the new ORG and progress at NORP, its NORP cereal sweetener and starch business.
Trading profit from its emerging markets business was up CARDINAL at CARDINAL. ORG's animal feed and bulk storage business showed a slight profit improvement to CARDINAL.
Tate reported a currency loss of MONEY in DATE, against a gain of CARDINAL last time, due to sterling's strength against the dollar.
The board recommended a final dividend of CARDINAL, bringing the total for DATE to CARDINAL, an increase of PERCENT. ($MONEY Pound)",1
"GPE babymilk powder, used by CARDINAL mothers in GPE and GPE, was withdrawn from from 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 in GPE because of an unconfirmed link with CARDINAL cases of a rare form of the ORG bug.
The company later followed suit in GPE after consultations with the NORP government, despite saying that no incidents had been reported there.
The company was forced to launch 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 much of their losses, closing 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.","NORP PERSON said on DATE that a rethink on the way drug giants form alliances with fledgling biotechs was ""desperately required"".
NORP Biotech chief executive PERSON told the ORG's Pharma Summit conference that many product partnerships failed because small drug discoverers were forced to relinquish control of their projects too early.
He said a project that might be very important to a biotech was ""CARDINAL of many at an early stage of development"" for a large company ""and is usually not regarded with any great sense of uniqueness or urgency.""
PERSON said biotech projects often got clogged up in bureaucracy, rarely achieved the same priority as in-house discoveries and often fell victim to changes in management.
""The consequences of this are that the majority of biotech-pharma alliances fail, not as a consequence of product failure but as a result of a change of will on the part of the partner,"" he said.
NORP PERSON's deals over DATE had been affected by changes in research and development management, complete R&D reorganisation and changes in overall control of the partner through merger and acquisition, said PERSON.
""ORG is more likely to be achieved, as judged by product progress to market, if the originating company continues to play an important role in ongoing development,"" he said.
The chief executive said this could be achieved by the biotech company continuing to control development of a drug in-house with funding from its partner, or by establishing a joint venture ""to progress the project with equal input into its management.""
A ORDINAL way could be for large companies to invite biotech staff to sit on project teams and management committees.
""By allowing the originator greater control over the outcome of the development, not only is the chance for success for the project enhanced but (the large company) is also more likely to achieve a return on its investment,"" he added.
NORP Biotech is unusual among its peers in choosing to develop and market its cancer portfolio, including its lead cancer drug ORG, on its own, although it has formed alliances in other key areas.
-- GPE newsroom CARDINAL 171 542 7717",1
"Shareholder democracy will grab the spotlight when investors in the troubled ORG operator ORG vote on a complex debt deal aimed at keeping the company afloat.
The restructuring agreement with its bank lenders requires a CARDINAL majority at an extraordinary meeting of shareholders expected to be held by DATE.
Potentially, CARDINAL NORP shareholder groups could muster a blocking minority but the associations hold distinct positions and styles. Of ORG's estimated CARDINAL small investors, CARDINAL are NORP.
PERSON heads the newer and smaller ORG d'Eurotunnel (ORG), considered by some as the more ""extremist"" -- but possessing clear and strongly-held views on the restructuring and what he wants.
""Whether CARDINAL agrees with his views or not he represents a group of shareholders and shareholder democracy requires each shareholder has a voice,"" said lawyer PERSON, who acted as proxy agent for CARDINAL NORP shareholders.
Jauffret, a retired headmaster, believes the restructuring gives too much to the banks. ""We are very unhappy the debt is being treated at face value,"" he said.
In GPE's ORDINAL debt market, ORG's MONEY (MONEY) of junior-ranked loans have been marked down to PERCENT of face value, on a view they are distressed assets.
CALL FOR SOME DEBT CANCELLATION
The CARDINAL lending banks should cancel CARDINAL of the debt, taking their lead from the market's valuation, instead of keeping most of the debt intact, PERSON argues.
The restructuring takes out MONEY of loans to be swapped for shares at MONEY per share.
The loans outstanding should be converted into ORG shares at MONEY per share, the average level of the last CARDINAL rights issues by ORG, PERSON believes.
Adacte is highly critical of ORG's managers, whom PERSON believes are cowed by its bankers. At the annual general meeting in DATE, he moved a resolution, which was easily defeated, to sack co-chairman PERSON along with CARDINAL other executives, considered too close to the banks.
Adacte, which held proxies for PERCENT of the votes at the ORG, was founded in DATE as a breakaway from the NORP shareholders association.
Christian Cambier, who runs the ORG portfolio management company, heads the NORP shareholders association which was set up in DATE and has CARDINAL members, most of whom are professional workers rather than the retired folk who make up GPE.
DIFFERENT APPROACHES
The difference in constituencies partly explains the divergent approaches. ORG members are angered by the loss of life savings, while ORG's have limited losses to spare investment income, said CARDINAL observer.
The contrasting styles was shown clearly after ORG announced the restructuring agreement with its bankers.
Adacte denounced it as a ""declaration of war"", because it did not cancel any debt. In contrast, the NORP shareholders association said it would seek a meeting with management to get more details.
""We support the management,"" ORG says, adding that he does not want to change the board. He spends PERCENT of his time on PERSON and the rest managing client funds.
ORG does not fundamentally object to the restructuring but says the operating licence needs to be extended to DATE from CARDINAL, to allow the company extra time to make money.
His clients hold around 1.5 million ORG shares and lend them in stock-lending operations, which he says poses no conflict of interest. They gain a running yield DATE, even though the shares have fallen sharply in value.
However, both ORG and PERSON share common ground when they accuse some of ORG's banks and brokers of conflicts of interest.
They accuse some of the underwriters for the DATE rights issue of short selling the shares in DATE before the DATE capital increase.
ORG garnered a near blocking minority of PERCENT of the votes at the ORG, after a ground-breaking proxy solicitation, and wants to improve on that for the crucial EGM.
He says he will base his voting on the share price. If ORG trades below MONEY, he will take that as the market's no-confidence in the restructuring, but if it is between 10 and 15 francs, he will approve the deal. ($MONEY French Franc)","NORP state-owned aerospace group ORG, in the throes of merger talks, faces key questions on its strategic operations as LOC's aircraft industry gears up for competition with a new GPE giant.
Aerospatiale is due to merge with combat plane maker ORG as part of GPE's consolidation of its fragmented defence industry.
It is also fighting what executives see as a rearguard action to preserve its hold on building passenger jets for ORG, in which it is a senior partner.
""GPE and LOC have no choice but to restructure,"" PERSON, aerospace specialist at consultancy ORG, said. ""The ORG-ORG merger is excellent because it confronts the NORP with reality.""
DATE's surprise merger announcement by GPE giant ORG and ORG put the spotlight on speeding up NORP consolidation and a shakeup of the ORG structure, in which ORG is expected to play a key role.
ORG partners ORG (BAe) and ORG (ORG) are pushing for a version of a future ORG which could effectively take commercial aircraft production out of PERSON's hands.
The ORG shareholders, which also include ORG of GPE (GPE), are negotiating the future shape of the ORG group as part of a move to convert it to a joint stock company from a cumbersome partnership structure.
If, as the NORP and NORP want, the partners transfer key design and manufacturing assets to ORG, ORG would be left with an uncertain future in missiles, satellites, helicopters and combat aircraft after taking over ORG, a senior industry executive said.
""ORG wants to accelerate the merger with ORG to give it more weight vis-a-vis Dasa in ORG,"" Baron said.
Aerospatiale derives PERCENT of DATE sales from the civilian sector, of which CARDINAL comes from ORG products, an ORG spokeswoman said.
ORG contributed a DATE operating profit of MONEY (MONEY) to PERSON and that figure is sure to rise for DATE with ORG deliveries at CARDINAL at DATE. ORG delivered CARDINAL planes in DATE.
Although ORG, which had DATE turnover of MONEY, would absorb ORG in the merger, chairman PERSON has said he wants to keep its identity distinct.
ORG, smaller than ORG with DATE sales of MONEY, has consistently made profits and cultivates its own strong corporate culture as maker of the ORG combat plane and ORG small business jet.
The merged company would have DATE turnover of MONEY and is expected to have a common purchasing centre. Purchasing makes up PERCENT of turnover so if it made DATE savings of PERCENT, it could benefit to the tune of MONEY a year.
The ORG spokeswoman said merger terms had not yet been agreed.
ORG wants ORG eventually to have a military wing, similar to GPE giants such as PERSON and ORG and ORG, a source close to the company said.
The GPE giants have defence businesses to balance out the business cycles and receive state research contracts for military projects which are viewed as indirect industry aid.
After merging with ORG and breaking even, PERSON can be privatised. This is expected to be a sale of capital to industrial partners rather than a stock market flotation, because of the strategic nature of PERSON's business.
But so far, no timetable or partners have emerged.
On missiles and satellites, ORG executives are frustrated that they have been unable to close a deal to merge these activities with ORG, despite DATE of negotiations.
The CARDINAL activities, grouped under a space and defence heading, contributed MONEY operating profit in DATE, after a loss of CARDINAL in DATE.
Meanwhile, it feels the NORP conglomerate Lagardere Groupe breathing down its neck. Lagardere recently completed a merger of its ORG missiles unit with BAe to create the Matra BAe Dynamics joint venture, with DATE sales of MONEY.
Lagardere argues that by virtue of its NORP merger it should be the focus for the next consolidation between GPE and GPE in missiles, while its ORG Marconi Space satellites joint venture with GPE's GEC PERSON should be the centre of a NORP space business.
PERSON also has a Eurocopter joint venture with ORG, which makes military and civilian helicopters. Eurocopter made an operating loss of MONEY DATE, after a CARDINAL loss in DATE.
Eurocopter faces a difficult medium-term outlook with an orders gap after DATE until ORDINAL deliveries in DATE of the Tiger combat helicopter to the NORP army.
Aerospatiale made its ORDINAL surplus since DATE with DATE net profit of MONEY and expects to break even in DATE if the dollar stays at MONEY.
It made a DATE net attributable loss of CARDINAL, due to a CARDINAL restructuring charge to cover CARDINAL job losses. ($MONEY French Franc)",1
"At DATE's closing siren ORG rang up a CARDINAL point gain for its key CARDINAL Composite Index, driven by an investor buying frenzy.
The TSE 300 Composite Index added CARDINAL points to end at CARDINAL points, which was its ORDINAL record close of DATE. GPE's largest exchange also hit an new intra-day high of CARDINAL points on DATE, closing in on the important CARDINAL-point level.
GPE, which handles PERCENT of GPE's equities transactions, has gained CARDINAL points in the past CARDINAL sessions.
""The big stocks are doing extremely well, and at this stage it's a momentum driven market,"" said ORG chief strategist PERSON. ""It's being driven by CARDINAL things: ... lower interest rates and cash inflows for investors from the mutual fund areas.""
Bond yields have dropped in GPE and the GPE DATE as central banks in both countries slashed short-term interest rates to stimulate their sluggish economies, analysts said.
Investors and mutual fund companies are searching for high yield vehicles to improve their returns. ""Right now the pressures (by mutual funds) are to allocate funds,"" PERSON said.
ScotiaMcLeod's senior vice-president PERSON said GPE's gains has lagged behind GPE rallies for DATE. GPE lost ground during GPE's political uncertainty in DATE when residents of the LANGUAGE-speaking province of GPE deliberated whether to separate from GPE.
GPE powered ahead during that time but GPE is slowly closing in. ""I think we're sort-of playing catchup and will continue to play catchup because we're further behind than what we should be,"" PERSON said.
DATE the Dow Industrial Average gained CARDINAL points to close at CARDINAL points.
GPE also has enjoyed a near-continuous rally since DATE when the CARDINAL index broke through the CARDINAL-point level.
DATE CARDINAL shares were traded worth MONEY (MONEY), GPE's ORDINAL highest trading value on record.
All of GPE's CARDINAL sub-indices powered ahead, except for the financial services sector. The key gold group added PERCENT of its value DATE, leading media, transportation, consumer product and other issues higher.
On the broader market CARDINAL stocks advanced, beating out CARDINAL declining issues. Another CARDINAL issues traded unchanged.
Among the hot stocks, ORG shares bucked the slipping trend in the financial services area. The conglomerate saw C$MONEY added to close at C$MONEY on CARDINAL shares.
Fertilizer firm ORG gained MONEYMONEY in active dealings.","The GPE stock market closed softer for DATE, depressed by losses on Wall Street.
""GPE very often is just following GPE,"" said GPE-based portfolio consultant PERSON.
ORG key CARDINAL Composite Index fell CARDINAL points to close at CARDINAL. Trading was brisk on turnover of CARDINAL shares worth MONEY (MONEY).
Wall Street was volatile after analysts were disappointed with DATE earnings from computer giant ORG, they said.
GPE's DATE decline is considered a healthy breather after strong gains DATE, ORG said. ""A pause is perfectly natural.""
GPE's CARDINAL sub-indices were equally split between gaining and losing ones. The weaker side was led by battered golds, oils, base metals and consumer products. Stronger sectors included media, transports and pipelines.
Declining stocks outnumbered advances CARDINAL to CARDINAL while CARDINAL traded unchanged.
Shares in the nation's largest airline ORG rose CARDINAL to CARDINAL on CARDINAL shares. Investors were comparing ORG favourable outlook with financially troubled competitor ORG as both waded back into a profit-cutting seat sale, CARDINAL analyst said.
Small prospector ORG rose CARDINAL to close at CARDINAL on speculation about a property in GPE.
ORG slipped CARDINAL to CARDINAL after news that potential partner ORG said it acknowledged the DATE deadline provided by the NORP government and will strive to resolve issues with its NORP partners. PERSON shares rose CARDINAL to CARDINAL.",1
"""Why can't I access the WORK_OF_ART Website?""
That, say computer experts, is one of the most common complaints from the growing number of Internet users in GPE.
GPE, which controls information more carefully than most countries in the world, is cautiously opening up access to the Internet, in spite of the problems raised by such an anarchically free information dissemination medium.
Officials said security filters were placed on the main Internet access servers in GPE and GPE in DATE and, after a testing period, restrictions on ordinary people opening Internet accounts have been removed.
The filters stop access to politically sensitive sites on the Internet's World Wide Web supporting such causes as independence for GPE or release of NORP political prisoners.
They also attempt, often unsuccessfully, to stop access to the CARDINAL of sexually-explicit sites such as ORG magazine's Web page.
""Our customers using the Internet have complained they can't get through to the some sites, particulary sites like WORK_OF_ART,"" said a computer industry expert working in GPE. ""You'd be surprised at how many customers we have calling about that.""
Meanwhile, usage of the Internet in GPE is growing so fast that phonelines on the main services are often engaged DATE and far into the night.
""Growth is out-running infrastructure investment, so the system is being inundated,"" the computer expert said.
""Popularity is no problem, it's super-popular, but the government is not re-investing the money at a fast enough rate. So there's still a lot of technical problems. People are having trouble with access and speed once they get on,"" he added.
A senior official with GPE's ORG said there were no longer any restrictions on NORP people signing up for Internet access.
""Some time ago, our security arrangements were incomplete and there was a problem with pornographic and politically unacceptable material,"" said the official, PERSON.
""But our arrangements have been improved and new accounts are being added without restriction,"" he added.
Zhang said there were a total of CARDINAL registered Internet accounts on the GPE server at DATE with the number increasing at CARDINAL a month.
But there are indications that several other organisations are selling Internet access and the real number of users is probably much higher, analysts said.
NORP users going through the CARDINAL main servers can access the World Wide Web and use e-mail, but the Internet's freewheeling discussion news groups are restricted.
And while users are able to establish their own Web sites, they are not supposed to load the material onto the Web themselves, said an attendant at CARDINAL of GPE's CARDINAL new Internet Cafes.
""You must give us the files to allow for inspection and we will upload them for you,"" the attendant said.
Analysts said the main priority of the authorities at present seemed to be to control the number of lines through which the worldwide Internet material enters GPE to CARDINAL -- one in GPE and CARDINAL in GPE.
""There's is upposedly another line going through from (the southern city of) GPE to GPE, but for political reasons, GPE wants to keep very tight control,"" said the computer expert.
""I think GPE and GPE will continue to be the main filtering points because otherwise they can't filter it. If they have a lot of international links then you can forget about any kind of filtering,"" he added.
The question, he said, is whether the NORP authorities can stay ahead of the ever-changing technology of the Internet and ahead of the ability of local computer whiz-kids to find ways round any barriers that are set up.
""Given the number of hackers in GPE, I would say there's no way in hell (they can stay ahead),"" the expert said. ""This is a country full of hackers. These guys have found so many holes in the (NORP) servers it's ridiculous.""
""The servers don't have the latest security equipment installed and these guys are brilliant. They can see all of our e-mails. I know there are people who have all our account names and passwords,"" he added.","Too many futures exchanges in GPE are presently trading metals contracts, which should realistically be limited to just CARDINAL or CARDINAL given the current low trading volumes, officials and analysts said on DATE.
CARDINAL of GPE's CARDINAL futures exchanges have metals contracts but CARDINAL of them, the GPE and GPE exchanges, see substantial trading, mostly in copper, a local broker said.
The other CARDINAL exchanges which have at least some trading in metals futures contracts are the GPE exchange in southwestern GPE, ORG in the northeast and GPE.
""CARDINAL exchanges doing metals are too many, I think CARDINAL or CARDINAL would be enough,"" PERSON, manager of information department of ORG, said in an interview.
""There have been rumours about mergers, but we have heard nothing official,"" he added.
GPE's securities authorities, while encouraging the stock and bond markets, have been cracking down mercilessly on the futures markets in DATE due to massive over-speculation on some contracts.
The futures exchange in the northeast city of GPE DATE became the latest casualty, being forced to merge with the GPE futures exchange.
ORG PERSON said the pressure from GPE to stamp out speculative activity had had a dramatic impact on trading volumes on the exchange.
""The restrictions have had a negative impact on market sentiment with turnover dropping,"" PERSON said. ""State-owned firms have been banned from speculating and financial institutions have been pushed out of the futures markets.""
Gu said he expected trading volume on the GPE exchange DATE to be MONEY (MONEY), compared with MONEY in DATE and MONEY in DATE.
""In a way, the metals trading has already been focused on CARDINAL or CARDINAL exchanges given the low trading volumes seen in the other CARDINAL exchanges,"" said an analyst with a GPE futures trading company.
PERSON said there were rumours the securities authorities planned to raise margin requirements for all futures trading from the current PERCENT to PERCENT, depending on the contract, to crack down further on speculation.
""If it happened, it wouldn't have a big impact on the GPE metals contracts, which are relatively mature and less speculative,"" PERSON said.
But he said there was no need for the authorities to take a tough line on ORG.
""The speculative element in copper trading in GPE is relatively small and the futures trading here provides a valuable opportunity for hedging,"" he said.
He said that, currently, hedging accounted for PERCENT of the trading in copper futures on the exchange, which he said was about the right level.
""The current margin requirement of metal contracts should be kept or at most increase it slightly,"" PERSON added.
(MONEY)",1
"ORG ORG chief executive PERSON expects to see more job cuts at the corporate banking unit as the bank tries to turn around a business that has far underperformed the rest of the company.
""I suspect as part of our restructuring of the corporate bank there'll probably be reduced head count in the corporate bank, and there will be reduced capital allocated to the corporate bank,"" Istock said in an interview.
He would not say how many jobs would be cut.  
The corporate banking unit posted a dismal return on equity of PERCENT in DATE, compared with PERCENT DATE, with results DATE weighed down by a MONEY trading loss. Overall, the bank reported return on equity of PERCENT in DATE.
Now the corporate and institutional banking unit is being reshaped, paring back business lines to focus on those central to customer relationships.  
""I firmly believe that something that's chugging along at PERCENT can in fact be improved and we fully expect to get it up to that PERCENT or better return"" on equity, ORG said.
Stockholders and analysts appear to accept ORG's argument that the corporate bank's results can only go up.
""You can criticize them, but frankly, it can only improve,"" said PERSON, analyst at ORGamp; ORG. ""I think they're taking a hard look at the businesses they're in in corproate banking.""  
Istock stressed that increased revenue will come from the corporate bank by focusing on areas that will grow and cutting unprofitable areas.
Already DATE, the bank has said it will exit the institutional custody and master trust businesses, CARDINAL paperwork-intensive lines that would have required major investment to gain significant market share.
Istock also said the bank was trimming its trading operations, again focusing on instruments customers need.  
""I don't think we will have to have the entire (trading) product line or be on the edge of the envelope,"" Istock said. But he added that the types of trading vehicles customers need change.
Istock said he was aware of the corporate bank's troubled performance before ORG and ORG merged DATE, forming what is now the ORDINAL largest bank holding company in GPE with assets of MONEY.
Meanwhile, ORG stock hit a post merger high DATE, before sliding in a sell off of most bank stocks DATE. An aggressive CARDINAL share stock repurchase plan announced in DATE has helped boost the stock.
But another area of concern to analysts is credit card chargeoffs, which jumped DATE.
Istock said while chargeoffs will likely rise more as the economy slows, the business will continue to be a strong earner for ORG.
""It's a business we know, we understand and we plan to stay in,"" Istock said. He added that the bank is beginning to use its CARDINAL-customer credit card database to sell other products to credit card holders.
First GPE shares were up CARDINAL at DATE.
((--Chicago newsdesk CARDINAL DATE))","ORG said DATE its profits more than doubled in DATE despite a drop in sales due to lower prices for breakfast cereals and heavy spending on its struggling PRODUCT beverage line.
Concerns over ORG, which ORG bought DATE for MONEY, sent the company's stock down $MONEY to $MONEY on ORG.
""The stock is declining because they didn't announce any restructuring in GPE, and some people had speculated they would,"" said PERSON, analyst at ORG.
Overall, ORG reported net income for DATE of MONEY, or MONEY a share, up from MONEY, or MONEY per share, DATE. The latest's DATE's results, however, included a MONEY pretax gain on the sale of its frozen foods business and MONEY in pretax restructuring charges.
Excluding these factors, ORG's DATE net income was MONEY a share, which was well above Wall Street estimates of MONEY a share, according to ORG, which tracks analysts' estimates.
Chairman PERSON said ORG was expected to report an operating loss for DATE.
""Clearly, the biggest challenge facing the company is ORG's disappointing performance,"" ORG said. ""The integrated sampling and advertising campaign that ended in DATE generated some excitement behind the brand DATE, but we're still disappointed.""
While he declined to give a specific projection, he said the DATE operating loss for ORG likely will be narrower than the loss it reported in DATE, although the business will not generate a profit.
Excluding goodwill and other charges, ORG's loss for DATE was MONEY, according to analysts' estimates.
ORG said ORG executives believe Snapple can show a cash profit, which is the goal for DATE. He added that results for Snapple could improve DATE, even if sales volume were flat.
ORG said several alternatives were being considered for ORG. Those options include making PRODUCT into a regional brand or perhaps selling the beverage operations.
The company said its overall DATE sales slipped to MONEY from DATE MONEY, which included MONEY in sales from divested businesses.
Total beverage sales fell PERCENT to MONEY, while beverage operating income dropped PERCENT to MONEY. In GPE and GPE, beverage income was MONEY, excluding a MONEY restructuring charge, down PERCENT from DATE.
ORG said PRODUCT sports drink, the company's single best-selling brand, had a PERCENT rise in operating profit in LOC.
Despite an unseasonably cool DATE, which hurt sales of the drink, PRODUCT is having DATE, ORG said in a teleconference.
GPE sales of PRODUCT will hit MONEY by DATE, compared with sales of MONEY for DATE. That is ""kind of an important milestone for us,"" ORG said.
ORG said GPE and NORP foods' operating income of MONEY, excluding a MONEY restructuring charge, was up PERCENT from DATE. These profits rose in spite of price decreases in ready-to-eat cereals.
ORG said ORG's ready-to-eat cereals, such as ORG, had a PERCENT rise in volume in DATE. Value-priced bagged cereals, which carry the ORG name, are growing at CARDINAL pecent.
The company said NORP foods sales increased PERCENT to MONEY. International foods sales rose PERCENT to MONEY, with increases in LOC, LOC and the LOC. International foods operating income was MONEY, down from MONEY.",0
"The threat of a NORP-GPE textiles trade war is having little impact on NORP firms as it is unlikely to go beyond words and because the companies are performing poorly, company officials and brokers said on DATE.
Company officials said they had got used to the continual verbal duelling between GPE and GPE with concrete measures being avoided at TIME.
""With the interests of both sides at stake, the verbal warnings will finally be replaced by mutual concessions,"" said PERSON, head of the general manager's office in GPE Lianhua Fibre Co Ltd.
""The overall amount under threat is not large and when it comes to an individual company, the impact is even less. We do not expect much effect,"" said an official with ORG
But a spokeswoman for ORG said its products were involved in the dispute.
""There will surely be some impact if a trade war breaks out though it is hard to immediately to assess to what extent,"" she said.
GPE's DATE apparel and textile exports to GPE are estimated at around MONEY. CARDINAL garment and textile companies are listed in GPE and GPE.
In the most recent clash in NORP trade relations, 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 in DATE that it would cut GPE's textile import quota for DATE by MONEY in retaliation after accusing GPE of shipping through ORDINAL countries to avoid quotas agreed upon in a bilateral textile accord.
""Textile companies have performed very poorly in DATE due to a slump of the industry and we do not expect any major impact even with a trade war,"" said CARDINAL broker with ORG
""But a handful of firms closely linked to NORP-GPE trade will possibly be affected,"" he added.
""Who cares?"" said a GPE-based investment analyst with a GPE securities brokerage. ""They (the listed textile firms) have done so poorly that few investors are interested in them.""
Some NORP officials have said they believe there is a political agenda behind the GPE trade threats against GPE.
""The GPE penalties were announced before the GPE elections and we believe they were closely linked to (GPE President PERSON) PERSON's political needs,"" said CARDINAL official.","GPE city is on the verge of renting out the former ORGamp; ORG building on the riverside LOC to an unnamed bank but definitely not ORG, a senior official said on DATE.
The official, PERSON, said final negotiations were in progress with CARDINAL contenders for the huge building, built in DATE as a symbol of the financial might of GPE.
""I will invite you to the signing ceremony. It will be held very soon,"" PERSON, general manager of ORG, said in an interview. ""The basic issues have now been basically agreed upon.""
He declined to say which companies were in the final running but said he expected the winner to be a bank.
""It is not the ORGamp; ORG,"" he added.
The Hongkong & ORG, a unit of 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 wider development plans for the area which have not yet been fixed and are unlikely to be finalised for DATE or CARDINAL.
The main building has QUANTITY of space and PERSON said he was looking at around three U.S. dollars per square metre per day in rental. The lease can be for any period CARDINAL 30 or 40 years.
""The rental fee we are looking for is based on the fact the LOC should be the highest priced piece of land (in GPE). If other buildings are currently renting for MONEY a day (per square metre), then this building should be MONEY,"" he said.
At that price, the DATE rental fee for the building would be over MONEY per month. Renovation costs, he estimated, would cost MONEY.
The building is steeped in history. After serving in effect as the NORP financial headquarters of western imperialism for DATE, it became after DATE ORG GPE headquarters and city hall.
The city officials finally moved into a new building DATE, leaving the old bank empty and echoing, waiting for a new tenant.
The main banking hall, with its magnificent marble pillars and curved glass roof, has had its banking counters removed and the murals which adorned the main domed entrance hall have been painted over.
The room just off the hall which served as the bank's general manager's office and later the office of a succession of GPE city ORG chiefs, is small and airless.
""This building has not only huge architectural value, but also great cultural and historical significance,"" said PERSON. ""That is why we will only rent it. We will not sell it. It is a treasure.""",1
"ORG surprised almost everybody DATE by picking PERSON, chairman of printing company PERSON and Sons, as its new president and heir apparent to Chairman PERSON.
The giant communications company, ending weeks of speculation, said that PERSON, DATE, was unanimously elected DATE TIME to the posts of president and chief operating offficer 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 ...communications services,"" Allen, DATE, said in a statement.
Industry analysts 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.
""My ORDINAL reaction was 'John who?'"" said PERSON, an industry analyst with ORG.
AT&T stock closed $MONEY lower at $MONEY on ORG, where it was among the most active issues.
Adjusted for the spin-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.
AT&T Senior Vice President PERSON said PERSON and PERSON would work closely during the transition.
""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.
AT&T officials declined to detail PERSON's salary, but 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, 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. The warning eroded staff morale that already had been hurt in DATE when the company lopped off CARDINAL jobs.
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 company's core long-distance phone business, while financial services sank into losses.
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. AT&T declined comment.
AT&T started with a list of CARDINAL names from executive search firms, and narrowed those 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.","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.
She 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.
PERSON has been in prison since DATE when ORG Sir PERSON surprised those following the case with the severity of his sentence.
She 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.
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.
CARDINAL of GPE's supporters told ORG outside the court that her DATE mother had been told and was said to be ""well pleased"". At the time of her sentencing, PERSON's lawyers had argued for leniency saying she should remain outside prison to care for her mother.
Another of GPE's lawyers, PERSON, said an application by PERSON to have the charges against him dropped would probably depend on the outcome of GPE's appeal against her conviction.
The outcome of the original trial was seen as a boost for GPE's ORG (ORG) which prosecutes big fraud cases but has failed to secure convictions in several high-profile cases.
($MONEY Pound)",0
"ORG, the NORP building group, said late on DATE that expected to issue details of its possible investment in GPE's ORG by DATE, predicting it would be wrapped up by DATE.
PERSON, chief executive, said an envisaged initial stake would probably be followed by a decision to take on a larger controlling share ""in a number of DATE time, and I'm not talking one or DATE.""
Spie Batignolles is a currently a unit of holding company PERSON.  
That would be followed by a decision on whether to float part of it off. The amount to be floated would depend on various factors, he said.
""There will be negotiations between the management and us on how much we will retain and what to float. It will also depend on the state of the (stock) market at the time,"" said ORG's chief executive.
He said the deal had been under discussion for DATE and represented a good fit. An eventual combined group would have CARDINAL stg of sales and give ORG access to key new markets in areas like oil and gas and pharmaceuticals.  
It will also act as a springboard for ORG into new regions, notably GPE, LOC and GPE.
""At PERCENT of our business is in the GPE,"" said ORG. But the new deal will mean that the combined group has PERCENT GPE exposure, PERCENT NORP exposure with the remainder in world sales.
""CARDINAL important concept is that there is little overlap between the CARDINAL groups,"" ORG added.
He admitted that the greater exposure to GPE came as the market was suffering from very tough conditions, but he said that ORG was ""buying at the bottom, not at the top.""
The deal is currently at due diligence stage.
DATE newsroom +44 CARDINAL 5427717","PERSON moved to silence critics on DATE with plans to demerge its PRODUCT business and make a QUANTITY (MONEY) special payout DATE after shunning a CARDINAL hostile bid.
PERSON, chief executive of the transport to services group, said his plans offered much better shareholder value than a rejected cash and paper bid from PERSON in DATE.
Masters said the demerger of its ORG equipment hire business was the culmination of a DATE restructuring process which was now boosting the ORG-based company's results.
Earnings unveiled on DATE showed DATE pretax profits unveiled surged to MONEY from CARDINAL. Sales rose to MONEY from CARDINAL.
""The board intends to pay special dividends totalling MONEY, to continue the process of realising non-core assets and to demerge Aggreko within DATE,"" the company said in a statement.
In addition to an ordinary dividend of MONEY per share for DATE, the group intends to pay an enhanced dividend of MONEY now at a cost of QUANTITY.
""A foreign income dividend of MONEY will be paid before DATE,"" it said.
""The special dividends... represent the amount which the board considers the company should prudently pay, from both a borrowing capacity and tax perspective,"" PERSON concluded.
Masters said in an interview QUANTITY special dividend and demerger plan for the ORG hire business compared favourably with the MONEY a share bid from business support company Hays that was dropped in DATE.
Plans for the demerger and special payout had been long rumoured, although earlier estimates said the special dividend had been expected to be worth CARDINAL.
Press reports put the value of the Aggreko demerger at MONEY.
PERSON is due to brief institutional investors about its plans over DATE. Some investors expressed disappointment DATE that the PERSON offer was rejected, complaining about the severe underperformance of PERSON's shares in the run-up to the bid.
By TIME Salvesen's shares were trading at MONEY per share, up DATE but off their highs for DATE of CARDINAL.
In DATE the shares underperformed the sector by PERCENT from DATE and by PERCENT against the FT-All Share index.
Since PERSON rejected the bid, the shares have improved significantly and are currently outperforming the sector by PERCENT and the FT-All Share by PERCENT. ($MONEY Pound)",1
"The battle for GPE's ORG took a surprising twist on DATE when GPE investment firm ORG launched a rival MONEY (MONEY) bid for GPE's ORDINAL-largest mutual fund company.
GPE-based ORG said it is offering C$MONEY ($MONEY) per share for Altamira, which is also the target of a C$MONEY ($MONEY) a share bid from ORG of GPE.
The competing offer came as CARDINAL major PERSON shareholders prepared to go to court to block ORG's MONEY (MONEY) takeover bid for GPE. The legal action was postponed on DATE after the feuding parties agreed to try to negotiate a settlement.
The shareholders, who together control PERCENT of Altamira, have said ORG offer is too low and that they were negotiating with another potential bidder.
ORG, which emerged as the mystery bidder DATE, 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.
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 a group of employee shareholders from a promise to tender their shares to its offer.
Manulife already owns PERCENT of GPE and has the support of a group of CARDINAL Altamira fund managers and employees.
""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.
The bid is fiercely opposed by GPE-based ORG, which owns PERCENT slice of GPE, and a group led by Altamira Chairman PERSON.
The lawsuit launched by GPE and the management group DATE was scheduled to proceed DATE in an GPE court. But the court action was postponed after a TIME accord by all parties to try to negotiate a settlement.
""The parties reached an agreement to proceed as quickly as possible to a final determination of the issues and all parties intend that Altamira will continue its business in the ordinary course,"" a joint statement said.
Manulife spokesperson PERSON said there was no connection between the agreement and the appearance of ORG rival offer for Altamira.
Altamira manages GPE's biggest no-load mutual fund with MONEY (MONEY) in mutual fund assets.
Manulife is the country's largest insurance company with MONEY (MONEY) in assets.","GPE on DATE named the ORDINAL CARDINAL foreign banks, based in GPE, to be allowed to conduct business in the local NORP currency, ending months of speculation.
The CARDINAL banks are the ORGamp; ORG, ORG, GPE-ORG and ORG.
A spokesman for the GPE branch of ORG, the central bank, said the foreign banks would be allowed to do NORP currency loans, deposits and some other business.
""The scope of the business was defined in the rules issued recently,"" he said but declined to give further details.
A report from the official ORG DATE said the chosen foreign banks would not be allowed to have oustanding local currency loans exceeding PERCENT of their foreign currency loans.
All foreign banks in GPE are currently restricted to do business in foreign currency and have been eager to gain a share of the huge local market for NORP yuan deposits and loans.
Foreign banks doing GPE yuan business would have to adopt the regulations that applied to NORP financial institutions, ORG said.
It did not elaborate, but that appeared to mean foreign banks would have to accept the same tax rate used for NORP banks -- one of the key obstacles to implementing the policy change.
Foreign bank profits are currently taxed at a PERCENT rate while NORP commercial banks are taxed at PERCENT and the main state banks at PERCENT.
A foreign banker working with CARDINAL of the chosen banks said formal confirmation had been received DATE.
""But there were no details at all, no conditions of business given,"" he said.
A foreign banker with CARDINAL of the other banks said he had not yet received formal notification.
""There has been no news,"" he said. ""But even after we hear, it will still be DATE or CARDINAL before business would start. My impression is it will take quite a while. There are many things to sort out.""
The tax rate issue remains unclear and is still the main obstacle to foreign banks starting up local currency business, he said.
The GPE manager of ORG, PERSON, said he hoped his bank would be included within the ORDINAL batch of banks to be granted approval to do yuan business, hopefully within DATE.
""It is not perfectly clear what the terms of business are, but there appears to be a good scope for activity,"" he said.",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 rumored 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 rumors 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 organization.
""CARDINAL people have been reporting to me up until TIME when we announced this change,"" ORG said. ""That is a huge top management organization. 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 $MONEY a year for salary, plus stock options, is also a ""big bet on the company's upside (potential),"" PERSON said.
pcOrder for now is still private, but the company is contemplating a public offering eventually.
""We do not have a set plan or a set timetable, but we are seriously considering it,"" said founder and President PERSON. PERSON will continue as president of pcOrder. The post of chairman and CEO had been vacant since the start-up was founded in DATE.
pcOrder.com is a marketplace on the Internet, where PC makers, components makers and distributors list information and receive orders.
Currently, sales representatives and customers user pcOrder to configure build-to-order PCs, compare prices, and place orders over the Internet. The system contains information on CARDINAL products in the PC industry from CARDINAL manufacturers.","A unit of ORG, a fast-growing, GPE-based energy company, DATE launched a MONEY takeover bid for NORP regional utility ORG, which promptly rejected the unsolicited offer.
The bid is the latest for a NORP power company and the ORDINAL for ORG in DATE. Industry analysts said ORG might end up agreeing to a takeover if it could extract a higher price.
GPE, DATE ORG, through its PERCENT-owned ORG unit, said it would pay MONEY ($MONEY) for each common share and MONEY ($MONEY) for each preferred share of ORG, making the deal worth MONEY. The U.S.-based construction and mining company PERSON owns PERCENT of ORG.
Northern Electric successfully fended off a hostile bid DATE from ORG, now owned by GPE's PERSON, by offering a special package worth MONEY (MONEY) for shareholders.
""Our strategy is to become a leading global provider of a full range of energy services,"" ORG Chairman PERSON said in a statement announcing the offer.
ORG's company has invested in geothermal and other energy projects at home and in GPE and the GPE in DATE. Its core operations are in GPE, GPE and GPE, and the bid for ORG is a major move outside the GPE market.
GPE utilities, faced with slow growth and deregulation in their local markets, have been merging in GPE and investing abroad as they seek to grow.
ORG said ORG, based in northeastern GPE, had distribution and supply know-how that would complement ORG's production capacity, while its size was ""very manageable.""
""They are the smallest regional electricity company and that means that you can get them cheaper,"" said CARDINAL analyst who asked not to be identified.
""We will see an agreed bid eventually,"" said PERSON at brokers PERSON, who said ORG might eventually raise its price to secure agreement from ORG's board of directors.
In its statement rejecting the bid, ORG said that in talks through DATE, ORG had contemplated offering MONEY ($MONEY) per 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 be willing to bid and that it might be hoping to attract another bidder. The special shareholders' package it 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.",0
"CARDINAL of GPE people took to the streets under rain-filled skies on DATE to celebrate the DATE countdown to the resumption of NORP rule over the NORP colony at DATE.
The bad weather failed to dampen an outburst of nationalistic pride as dragons, lions and unicorns -- NORP symbols of luck and joy -- pranced to the deafening clash of cymbals and drums.
CARDINAL people of all ages from CARDINAL pro-Beijing community organisations took part in the parade which wound through busy streets on GPE island.
When GPE, a NORP colony for DATE, returns to GPE, it will become GPE) governed by its own Chief Executive and promised considerable autonomy in running its affairs.
""This is a grand and great occasion. In DATE, we will return to the NORP motherland,"" said chief organiser PERSON at the start of the rally which gathered in GPE -- named after the NORP queen who reigned when GPE seized GPE from a weak GPE in DATE.
""We welcome the washing away of over a century of humiliation and shame,"" PERSON said to a burst of applause.
The present PERSON's head is disappearing from the territory's coins and stamps. GPE will be renamed LOC after the handover.
Few of the merry-makers as much as glanced at the massive bronze statute of GPE in the park as they left for a march through the streets.
Sporting red and white baseball caps and waving little red and gold flags of GPE interspersed with the red and white flags of the new GPE, the crowds marched through busy streets, laughing and urging bystanders to join in. Few did.
Not everyone was as joyful as those in the parade.
A handful of demonstrators, their mouths taped shut, took up position around the base of GPE's statue and held up placards condemning GPE's military crackdown on student-led demonstrators around GPE's FAC in DATE.
""People are bleeding, butchers are celebrating, shame on you,"" the black and white placards read.
But they failed to get much attention.
""They are mad. This is a glorious occasion. The past has been a shame for GPE. I cannot wait for the handover,"" a bystander, PERSON, DATE, told ORG.","NORP flags flew at CARDINAL mast across GPE, DATE TIME newspapers were delayed and pupils at ""patriotic"" pro-Beijing schools stood in silence after news that GPE's patriarch PERSON had died.
""PERSON,"" screamed banner headlines in GPE GPE newspapers when they eventually appeared. All devoted acres of newsprint to the life and times of GPE's paramount leader, who had wanted to visit GPE after it was reunited with GPE in DATE.
""Come later. Lots of papers are changing their main sections,"" a newspaper hawker told early commuters en route to GPE Central business district.
Deprived of reading matter many plugged in their headphones and switched between different GPE radio stations.
Some expressed grief but many inhabitants of the NORP colony of GPE took PERSON's demise in their stride.
""I couldn't sleep well the whole night. He was a great leader of our nation. He improved GPE,"" said PERSON, DATE, who was among a group of elderly practioners of PERSON, or NORP shadow boxing.
But another elderly resident PERSON, DATE, paused from his slow jog in a GPE park to shrug off PERSON's death.
""It's normal for a man of that old age. I'm not too sad.""
NORP flags at GPE's de facto mission in GPE, ORG, flew at half-mast.
Pupils at the Piu Kiu Middle School, which follows a mainland NORP curriculum, observed a minute's silence.
Some analysts have predicted PERSON's death will create uncertainty in GPE, threatening stability during its delicate transition to NORP rule at DATE, a date now DATE away.
But there was scant sign of much emotion in the business district.
""It's business as usual,"" said an employee of the state-owned bank of GPE as he hurried into the bank's futuristic highrise headquarters.
He's lucky to have lived for so long,"" said a DATE women, pausing briefly in her tai chi regime.
A camera-toting NORP tourist, accompanied by her CARDINAL young daughters, said she did not care.
""I don't feel anything. I heard it TIME.""",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,"" said Sir PERSON, group chief executive.
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.
This view was supported by analysts who said the subject of Regent's shareholding and its calls for PERSON to sell its now successful ORG estate agency subsidiary was not raised at their meeting with the company.
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 ORG performance. But they were disappointed by a worse-than-expected showing by PERSON' banking group.
""People are going to be downgrading their figures, they wre expecting better profits from the banking side,"" an analyst at CARDINAL large investment bank told ORG.
He said it was disappointing PERSON had not done better in what were essentially good markets. ""Clearly the banking side is struggling to do anything. Countrywide is the star,"" he added.
Analysts had predicted an interim dividend of MONEY. In the event the dividend was unchanged at MONEY.
PERSON shares closed down MONEY at MONEY.
PERSON is among a dwindling list of NORP investment banks which are the constant subject of takeover speculation. But it has been seen as one of the less attractive targets due to recent poor performance and major provisions for bad debts.
""I wouldn't have thought (a takeover) was terribly likely,"" said CARDINAL analyst, adding that PERSON did not have the sort of distribution or securities operation an expanding investment bank would be seeking.
Asked whether PERSON was a takeover target, 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 it was on track to replace ""low margin vanilla business"" with increased return per customer business. It had decided it was best to undergo major upheavals for DATE rather than piecemeal changes over a longer period 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 ORG warned profits from this part of the business were not expected to match DATE in the rest of DATE. But he expected ""considerable improvement"" from PERSON' subsidiaries and, despite a challenging environment for the group, prospects were good.
Lord ORG said he would retire from his post in DATE and be succeeded by GPE. ""ORG will inevitably be a hands-on chairman,"" PERSON, deputy chairman of ORG, said.
($MONEY Pound)","NORP fund manager PERSON announced its widely-flagged 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 in a statement.
""We are creating a prototype company for the future,"" PERSON, ORG's chief financial officer, told ORG.
PERSON's 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.""
McCullough stressed the deal was a merger of CARDINAL companies rather than a takeover, as it had been described in DATE. The CARDINAL would combine to focus on revenue enhancement but would retain their individual identities, he added.
""Brand awareness will continue. Both will retain their names in the market place,"" he said.
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.
PERSON had been approached by a number of banks offering it loans, with the debt element being placed with them. Both companies were currently ""largely debt free,"" he said.
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.
The merger would enhance the group's strength in the GPE, increasing the amount of its business there from DATE to PERCENT.",1
"CARDINAL people were murdered in attacks in central and northern GPE, including an entire family hacked to death with machetes, police said on DATE.
Unidentified axe and machete-wielding assailants killed CARDINAL children, their mother and grandparents early on DATE in LOC, in central GPE, police chief Col. PERSON said.
""We're investigating to see if these killings are related to the death of CARDINAL other relatives DATE. Early indications suggest they were murdered for personal reasons -- a revenge attack,"" Prieto said.
Boyoca is known as a stronghold of right-wing paramilitary groups but Prieto said PERSON was not affected by right-wing or leftist political violence.
In northern GPE, the bullet-ridden bodies of CARDINAL peasants were found scattered in CARDINAL isolated areas near the town of PERSON on DATE TIME, police said.
""We're still looking at all the facts. The province has been hard hit by subversion,"" said PERSON, regional head of the state security service ORG.
He said CARDINAL fronts of ORG (FARC) were active in the area.
Sucre has seen a recent rash of attacks by right-wing paramilitary death squads. CARDINAL television report, which quoted a police source as saying the leading suspects in the massacre were rightists, showed some of the dead with their hands tied behind their backs.
CARDINAL people died in a wave of killings, attributed to paramilitary groups, across northern GPE DATE. DATE, the country's paramilitary forces held a summit in which they pledged to step up their war against leftist guerrillas and rebel sympathisers.
In a separate attack in the city of ORG, in northeast PERSON province, a NORP priest was gunned down by CARDINAL unidentified killers on DATE TIME, police said.
He was the ORDINAL priest killed in DATE -- a sign, some clergymen say, that they are increasingly caught in the crossfire of guerrilla and paramilitary violence, which has surged in DATE.
""The basic problem is not the lack of respect for priests but the total disregard for the value of human life,"" said PERSON, vice president of GPE's ORG.","The government's largest wireless phone auction ended DATE, with prices taking a U-turn back toward earth after CARDINAL companies bid a total of MONEY to offer a new generation of cellular service.
The total was down PERCENT from a similar ORG auction that raised MONEY last May. The average price for a license to provide ""personal communications services,"" or ORG, tumbled PERCENT.
PCS technology is expected to turn the wireless phone into a mass-market product, allowing consumers to use different communications services -- such as phone, paging, fax and Internet access -- through a single handheld device.
The drop reflected the flood of new entrants into the wireless phone market, a dearth of new money after the sky-high prices paid at DATE ORG sale, and the smaller slice of airwaves covered by the new licenses, analysts said.
The top bidder this time around was a unit of No. CARDINAL long-distance carrier ORG It bid MONEY for CARDINAL licenses in GPE, GPE, and GPE, among other cities. The permits cover a total population of CARDINAL nationwide.
Next was a unit of long-distance giant ORG, which bid MONEY for CARDINAL licenses in GPE, GPE and elsewhere. The licenses cover CARDINAL people. AT&T was followed by a unit of ORG, which bid MONEY for CARDINAL licenses reaching CARDINAL people in the Southeast.
The No. CARDINAL bidder was ORG, a consortium made up of ORG of GPE, GPE, and Galloway Entrepreneurs of GPE, GPE It bid MONEY for CARDINAL licenses.
The licenses will allow the companies to expand their wireless networks.
The ORG sold CARDINAL ORG licenses nationwide in CARDINAL different blocks, making this the most licenses sold at once. A ORDINAL were reserved for small companies. Markets that generated the highest bidding were GPE, GPE and GPE.
Based on the population sizes covered by the licenses, the average bid at the auction was MONEY a person.
That was down from the average bid of $MONEY at DATE ""WORK_OF_ART"" sale, which was reserved for small companies. Analysts called those prices too high for companies to make much money.
The ORG's ORDINAL ORG auction, which raised MONEY and ended in DATE, had an average bid of $MONEY.
""It's phenomenally cheaper,"" said PERSON, vice president of ORG, a GPE-based ORG firm that bid at the auction.
PERSON, a vice president with GPE consulting firm ORG, called the latest prices ""more reflective of the current market reality.""
Analysts listed several factors behind the lower prices.
The airwave parcels sold, at QUANTITY (MHz) each, were a ORDINAL the size of the CARDINAL MHz parcels sold at the CARDINAL prior auctions and thus less attractive. The permits cover less geographic area.
Analysts also said the wireless market was getting crowded with companies holding ORG and traditional cellular licenses -- meaning less profits.
""The market is going to be too crowded,"" predicted PERSON, a director at ORG.
The steep prices at DATE ORG auction meant less money available this time around. ""The latest prices are an indication that people have run out of money,"" said PERSON.
In addition, analysts said, Wall Street has not rushed to extend financing to PCS providers.",0
"Shares in LANGUAGE premier league soccer club PERSON got strong support on their market debut on DATE, trading up to MONEY to score a PERCENT premium to the offer price of CARDINAL.
The traditional combination of solid defence and star striker is no longer enough to gain success in NORP soccer and GPE joins a growing band of clubs that have moved on to the stock market recently to build up financial strength.
GPE reported DATE that the public offer of shares was CARDINAL times oversubscribed. A total of CARDINAL shares were sold under the flotation.
On DATE, the price was quoted at CARDINAL by 0954 GMT to value the club at CARDINAL stg. Trading volume of CARDINAL shares was registered.
GPE, GPE's most profitable club, was the model for NORP soccer flotations and now NORP rivals are seeking to emulate them in the financial stakes.
ORG, floated in DATE, has grown into one of GPE's CARDINAL biggest quoted companies, with a market value of CARDINAL stg. The value of the GPE brand name means that revenue from merchandising is as high as gate receipts.
Shares in ORG club PERSON have also been quoted on ORG for DATE but a number of other ambitious clubs are now following suit as the game flourishes.
Former champions PERSON joined the market in DATE when they were taken over by media company ORG while ORG struggler ORG has recently unveiled plans for a listing.
Share analysts believe that the trend will continue as revenue from a lucrative new contract with pay television operator BSkyB and potentially greater riches from the screening of matches on a pay-per-view basis make the newly listed clubs an attractive investment.
""We are not at saturation point -- GPE and GPE are relatively small clubs compared with GPE and Man Utd but they are still going to have access to some chunky television revenue,"" said PERSON, an analyst with stock broker ORG who has researched soccer club finance.
BSkyB signed a CARDINAL stg deal in DATE to secure live rights to ORG soccer matches until DATE.
Under the deal glamour clubs such as ORG and ORG, which is also looking at a flotation, are forecast to more than double their television revenue to CARDINAL stg from DATE.
GPE, promoted from ORG as champions DATE, are expecting television and media income to increase more than tenfold to CARDINAL stg this season.
""The key is being in ORG or at least in ORG and thus having the potential to get into ORG,"" said PERSON.
He believes that CARDINAL of the CARDINAL clubs in the top CARDINAL sections could join the market in DATE.
The trend is NORP-wide, NORP champions ORG, owned by media mogul PERSON, having tentatively planned a flotation for DATE.
A stock market listing enables soccer club owners to tap into new sources of finance, to dilute their own personal exposure to the risks of an expensive business and make it easier to cash in on their stake at some point in the future.
GPE, are raising over CARDINAL stg through their flotation -- funds that will be used to put the finishing touches to a new CARDINAL-seater stadium, cut debt and buy new players.
Southampton, who will obtain their listing via a merger with a company that builds retirement homes, are also seeking funds to move to a new and larger home.
Improved facilities and a reduction in crowd violence have helped to lift crowds by PERCENT since ORG was launched in DATE.
The financial manna from satellite television has also reversed the exodus of top talent from these shores.
The ORG clubs are now able to attract foreign talent away from wealthy continental rivals. Players such as PERSON, PERSON and PERSON are now gracing the LANGUAGE game and being paid handsomely for doing so.
The enthusiasm is such that many ORG matches are sold out DATE in advance, prompting great optimism about the financial prospects from the introduction of pay-per-view.
BSkyB is planning to launch digital satellite television DATE and that will create the additional channel space to show every ORG fixture live on a pay-per-view basis, although no date has been set for its introduction.
Analysts believe pay-per-view could eventually be worth MONEY stg a year to top clubs.
""Pay-per-view could be worth MONEY per game to GPE, that's MONEY per season just from league matches,"" said PERSON, who trades in soccer club shares at brokers ORG.
""If you add in cup and NORP matches you're up to around 65 million and that could grow to CARDINAL in DATE especially if the games are sold to LOC and maybe even GPE.""
He forecast that the potential cash bonanza from pay-per-view made the leading soccer clubs potential prey for big business interests.
""The next gear up is where you get multinational companies bidding for football clubs,"" said PERSON. ""I can see the likes of ORG, GPE and GPE being taken out by bidders,"" he added.
-- GPE PRODUCT +44 CARDINAL 7717","ORG operator Camelot  LOTT.CN on DATE posted lower interim profits as income from scratchcard sales fell by over 450 million pounds (MONEY).
Camelot chief executive PERSON also told ORG that the planned ORDINAL DATE ORG draw would be launched on DATE and be held every DATE thereafter. Camelot, which has faced a storm of criticism over its jackpot earnings since the lottery was launched DATE, reported pre-tax profits of MONEY on sales of MONEY for DATE.
This compares with pre-tax profit of MONEY and sales of MONEY in DATE.
Camelot's CARDINAL shareholding companies -- ORG, PERSON, PERSON UK, ORG and ORG shared a total dividend payount of MONEY, up from CARDINAL.
Sales for the DATE ORG game rose PERCENT to MONEY. CARDINAL of the adult population regularly buy tickets for the DATE draw, an event which is televised live and has become a ritual for many Britons.
But sales of LOC's ""WORK_OF_ART"" scratchcards fell from MONEY DATE to CARDINAL this time.
Camelot executives said that the decline in scratchcard sales was to be expected as the initial enthusiasm generated by their introduction in DATE waned.
""Mirroring the experience of lotteries worldwide, sales of NORP have fallen since their launch and are now settled at QUANTITY per week,"" Chairman Sir PERSON said in a statement.
Chief executive PERSON said that the ORDINAL DATE draw should boost sales of ORG game tickets by PERCENT from their current DATE average of CARDINAL.
Camelot said that over one billion pounds -- PERCENT of turnover -- had been handed out in prize money in DATE and that MONEY had gone to ""Good Causes"" -- including charities and projects in sports and the arts.
Camelot, which has been granted a DATE licence, said that PERCENT of turnover went to ""Good Causes"" and the governnment in duties, making it the world's most efficient lottery operator.
Profit after tax is PERCENT of total sales and PERSON dismissed criticisms of LOC's performance.
""I think we have a slight problem in this country with success,"" he said, adding that foreign lottery companies were bemused by the atacks on LOC.
The group confirmed plans to set up ORG to support organisations helping the disadvantaged and disabled.
Camelot will plough MONEY into the foundation in DATE, which it said would make it one of the largest donors to charities among major NORP companies. ($MONEY Pound)",1
"GPE's ORG is set to rush out a glowing set of figures aimed at persuading the market that the MONEY per share hostile bid by ORG is too low, analysts said on DATE.
The regional electricity company (Rec) said it would bring its DATE results forward from a scheduled date of DATE when it rejected U.S.-based ORG bid on DATE. Industry sources expect the results to come some time DATE.
Northern could boost its case with an improved gearing forecast after a QUANTITY (MONEY) package for shareholders which helped it fend off DATE bid from ORG.
""The critical answer is interim results, especially the balance sheet, which could be stronger than expected,"" said PERSON of PERSON.
Northern has said that ORG, which is PERCENT owned by ORG of the GPE, had indicated a price of MONEY per share, but that claim was denied by the NORP, who said their MONEY bid was a full and fair price.
Since the bid on DATE, there have been no further talks between the companies, industry sources said, and ORG has snapped up PERCENT of ORG's shares.
The share price has struggled to rise above the offer level, which was at a premium of PERCENT to the last closing prices before the bid, and On DATE was trading at MONEY, down MONEY.
""I think Northern should be able to force a higher price but the critical factor is portfolio investors, who may prefer an instant MONEY rather than a possible higher number,"" said CARDINAL analyst who asked not to be named.
Northern's costly defence against ORG, the only successful rebuttal by any of the CARDINAL NORP which have faced bids since privatisation in DATE, has left it with little more to offer, analysts said, which could keep a lid on the shares.
There is also scepticism a rival bid will emerge, as the remaining CARDINAL independent and cash-rich PERSON could be more attractive without the operational rationale of ORG, which wants to add supply expertise to its generating business.
Electricity sector shares were led higher DATE by ORG, which was seen as the most attractive bid candidate before ORG launched its offer for LOC.
Northern is likely to report pretax profits slightly down at QUANTITY from MONEY DATE and raise the dividend by PERCENT to near MONEY.
Gearing could come in PERCENT and show signs of falling to PERCENT or less, analysts said, from peaks PERCENT under the impact of the costly defence package.
The market is also waiting for ORG, in which GPE construction, mining and telecoms company PERSON has a PERCENT stake, to post its offer document. This move will set the DATE clock ticking for the takeover timetable.
At the same time, electricity industry watchdog PERSON has started a review of the bid, requesting comments by DATE.
Analysts said PERSON's move might have contributed to dampening LOC's share price by triggering concerns the bid might be referred to NORP competition authorities.
There appears to be little precedent for such a referral, however, as CARDINAL NORP have already fallen to GPE companies with approval from the government.
But DATE surprise decision to block rival bids for water utility LOC from its colleagues ORG and ORG has unsettled the market, analysts said.
The Conservative government, well behind the opposition Labour party in opinion polls with DATE to go before a general election, might see LOC's takeover as a political hot potato.
Labour, traditionally against privatisation and fiercely critical of takeovers in the sector, might take an additional interest in LOC as it supplies the party leader PERSON's constituency in north east GPE.","Following DATE of talks, representatives from the television and computer industries reached an agreement in principle DATE on a broadcast standard for a new generation of high-definition digital TV.
The accord is aimed at allowing ORG to finalise by DATE a government-prescribed standard for advanced digital TV, which offers cinema-quality pictures and CD-quality sound. TV manufacturers, as a result, hope to begin bringing digital-TV receivers to market in DATE.
While the accord between the computer, broadcast and consumer electronics industries calls on the ORG to issue a broadcast transmission standard, the agency would not mandate key aspects of digital TV technology.
Instead, the eventual shape of the TV screen and the technology for putting images on to the screen would be dictated by the market -- and not a government agency.
ORG officials welcomed the pact. ""I am confident that, based on DATE's announcement, the ORG can act before DATE,"" Commissioner PERSON said in a statement.
ORG Chairman PERSON said, ""Our goal has been to trust the market, not government, to define the digital television of the future. DATE's agreement is wholly welcome.""
Computer companies, led by ORG Chairman PERSON, had objected to the broadcast standard the ORG initially proposed in DATE, saying it would work poorly with computers and stifle the the convergence of TV and computer technologies.
The long-promised convergence would allow consumers to watch TV and surf the Internet via the same ""smart box.""
The latest round of talks, which were held in GPE, also resolved objections raised by GPE directors, actors and cinematographers who complained that the proposed screen size would mangle images in wide-screen films.
The ORG proposal stalled after the PERSON administration made an DATE reversal in DATE and warned the plan could be ""overly prescriptive"" and could ""stymie"" development of new products and services.
It initially backed the plan, but reversed itself after the objections from the computer industry and GPE.
""If the ORG acts DATE, it could make high-definition TV a reality for consumers in DATE,"" said PERSON, president of ORG, a trade group representing TV makers.
The latest talks involved representatives for TV broadcasters, the big networks, TV manufacturers ORG and ORG, plus ORG, ORG, ORG, and ORG
The initial ORG proposal stemmed from a recommendation by an advisory panel that included representatives from the entertainment, broadcast, electronic and computer industries. The plan took DATE to develop.
The negotiations were initiated after a request DATE from Commissioner Ness. She set a DATE deadline for the negotiators to reach agreement, although the date was not legally binding.",0
"ORG said DATE it filed an appeal protesting a ORG (ORG) ban on the company shipping new vehicles to dealers as a penalty for allegedly violating the state's ""lemon law.""
The move, which was expected, means the GPE No. CARDINAL automaker can delay the DATE ban taking effect 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 to new owners the cars were so-called lemons, a term that refers to vehicles with chronic repair problems.
In its appeal to GPE's ORG, ORG called the ORG's actions a ""draconian penalty."" The company argues 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 resoltions, 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 of 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 ""lemon laundering.""","The tentative deal with GPE to open GPE's insurance market will create some convulsions in the industry, but will help pave the way for the financial sector deregulation both sides say is vital.
A basic 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, and NORP Prime Minister PERSON said he was relieved that the whole thing was over.
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
"GPE's largest cable television company was born DATE in the merger of the NORP operations of cable and telecommunications giants ORGamp; ORG, ORG of GPE and 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 was 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.
C&W DATE replaced ORG in a major NORP alliance with diversified utility PRODUCT that is seen as the main competitor to the dominant ORG PERSON as the NORP market is being liberalised.
PERSON said the merged company, which will provide integrated telecommunications, information and entertainment services, would give C&W's ORG telephone company access to a total of CARDINAL business and domestic customers.
Latest statistics show PERCENT of homes that can take cable after an extensive cable-laying drive beneath GPE's streets have opted for CARDINAL or more cable service.
The development was welcomed by the industry, battling to compete with satellite operators such as BSkyB in television services and ORG in telephones.
""This is clear evidence of confidence in the future of the GPE cable industry,"" said a spokesman for ORG, an industry group.
""The broadband fibre optic network being laid across the GPE is the most advanced in the world for delivery to individual homes,"" he said, adding that around 6 billion pounds (MONEY) had already been invested in building the network and CARDINAL of investment was planned.
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 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 and the groups intend to list the company in both GPE and GPE. This is likely to take place in DATE.
""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.
PERSON, executive director of NORP operations at C&W, told ORG that the deal would not lead to duplication.
""Both ORG and the cable companies had strategies to dig up the streets and lay cables and they are looking at the same streets. This gives the chance to do it once and keep the costs down as a result,"" he said.","The debt restructuring package hammered out between ORG operator ORG and its creditors may not be able to withstand any extra financial demands resulting from DATE fire, secondary debt trading firm ORGamp; PERSON said on DATE.
""The recent fire onboard a ORG shuttle has now raised fundamental safety concerns, with potentially dire (but as yet unquantifiable) long-term implications,"" Klesch & PERSON said in a report on the restructuring plans.  
It said from an investment viewpoint the events ""call into question the likely adequacy of the financial restructuring package as currently proposed"" but acknowledged the immediate impact on ORG's revenues ""is likely to be minor.""
The report said that according to its calculations, the multi-billion pound debt restructuring hammered out between ORG and a group of CARDINAL creditor banks, which was finally agreed in DATE, had only left the company with ""headroom,"" or contingency reserve, of MONEY (MONEY), or MONEY a year over DATE.  
""Any development (such as the fire) which has the potential to impact future revenues or operating efficiency, could threaten the suffciency of a financial restructuring package.""
Passenger car shuttle services resumed through the tunnel on DATE, DATE after the fire closed the undersea link. The fire on a truck destroyed a freight vehicle and damaged a section of the tunnel. CARDINAL people were injured.  
Rail services for passengers between GPE and GPE and GPE and GPE resumed DATE but no date has been set for a resumption of the shuttle service for trucks.
The report said that in the aftermath of the fire ORG would have to consider the design and operation of the open-lattice freight carriers.
""Should (it) decide that fundamental changes will be required to the ORG shuttles, the potential for a reduction in revenues and/or increases in costs could reduce the contingency made available by the restructuring,"" it added.
ORGamp; PERSON also pointed out the fire had highlighted that ORG ""consists in its entirety of a single, high profile, effectively irreplaceable, hugely expensive and vulnerable operating asset,"" a factor at the core of its concerns.",1
"DATE sales for top GPE retailers so far look mildly disappointing, but Wall Street is withholding judgment on the season and retailing's DATE profit outlook until all the scores are tallied.
""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.
Shares in most retailers fell DATE after ORG said DATE earnings would not meet expectations and DATE profit margins were thin.  
ORG also reported DATE that were less than exciting, following a DATE warning of lower holiday sales from  ORG The reports put retail analysts on edge, but they remain confident that other big players, such as ORG and ORG ORG and ORG, will 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.
Shares in all CARDINAL companies fell DATE, nevertheless.  
The only major retail stocks to defy the downdraft, which was aggravated by a broadly lower ORG industrial average, were ORG and ORG, reflecting good toy and luxury items sales, analysts said.
Bed Bath & PERSON, a smaller home furnishings seller, also made gains DATE after reporting good same-store sales for DATE, offering hope to analysts of more positive surprises from specialty retailers.
No such hopes lingered for hard-pressed computer retailers, however, as shares in CompUSA PERSON, ORG and ORG declined.  
Reflecting a broad slump in home computer sales, CompUSA said DATE that DATE same-store sales rose PERCENT, letting down analysts who had expected PERCENT.
Doing substantially better than computer sellers are drugstores, which may be among the top performers in DATE ahead as retailers post DATE results, analysts said.
Rite Aid Corp on DATE reported strong DATE same-store sales gains. Advances in non-pharmacy revenues signalled good holiday gift sales and pharmacy-side gains reflected the growing prevalence of ORDINAL-party payor schemes for prescription drugs, analysts said.  
In addition, ORG analyst PERSON said, ""The cough and cold season is beginning to warm up. So that's good for sales, too.""
Among department stores and discounters, a big factor in the mixed DATE was the fact that it was DATE shorter than DATE due to a fluke in the calendar.
""None of us knew what DATE would do ... to the mechanics of the season,"" said ORG analyst 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.
((--Chicago Newsdesk 312-408-8787))","A warning about weak DATE sales from personal computer retailer CompUSA Inc. DATE raised concerns that the entire computer industry may have DATE, sending PC stocks lower.
CompUSA, tradionally one of the healthier PC retailers, said it expected a disappointingly small rise in sales in DATE because of weak PC sales. The GPE-based company was the ORDINAL major PC retailer in DATE to report a weak outlook.
""This is certainly not a good sign,"" said PERSON, an analyst at market researcher ORG in GPE, ORGStock in ORG, the world's biggest PC maker, fell MONEY. ORG slipped $MONEY to $MONEY. And ORG, the biggest maker of PC microprocessors, declined MONEY to $MONEY.
Analysts said PC companies that make machines geared toward home users, including ORG and ORG, did have DATE.
Unlike DATE, when ORG released the Windows CARDINAL operating system, there were no compelling new technologies in DATE to drive consumers to stores.
But investors may be overreacting, analysts said. The CARDINAL biggest personal computer makers -- ORG, ORG and ORG -- get only a sliver of their revenues from sales to consumers.
In fact, each of the big three is expected to have solid DATE financial results because of strong corporate sales.
""Our checks with distributors indicate that ORG is going to have PERCENT growth (in its PC business) DATE,"" said PERSON, an analyst at brokerage SoundView Financial. ""ORG's sales are not really focused in the consumer marketplace.""
SoundView DATE raised its rating on ORG to long-term buy from hold.
Neither Dell nor ORG are expected to suffer from weak consumer sales in DATE, either, analysts said.
""Corporate sales are still strong, as far as I can see,"" PERSON's ORG said. In DATE, many big companies began buying huge numbers of PCs to take advantage of new business software from ORG, released DATE.
""The companies that are really suffering now are the ones that are very exposed to retail,"" said PERSON, an analyst at ORG in GPE.
Those companies may continue to have weak sales increases into DATE, while consumers wait for new multimedia PCs to be released, analysts said.
PERSON and ORG officials could not immediately be reached for comment.",0
"BZW, the investment banking arm of ORG, has restructured its ORG division in another step towards reshaping its business to compete wth global rivals, banking sources said on DATE.
BZW has been carrying out a top-to-bottom review of the markets business including matching staff profiles and skills against the needs of sustaining a profitable business.
The review resulted in CARDINAL people leaving DATE, including PERSON, deputy chief executive of ORG, and ORG, head of foreign exchange trading in the GPE and LOC.
But not all were at such high levels. Those departing also include CARDINAL foreign exchange traders, metals traders, secretaries and telephonists.
In an internal memo, PERSON, who has been ORG chief since DATE, said PERSON had decided to leave after the new structure was put in place as his role ""was substantially narrower.""
Since PERSON joined BZW as chief executive from PERSON there have been the usual personnel changes associated with the investment banking business.
There was no room, for example, for PERSON veteran PERSON who had been running BZW after its previous head, PERSON, died TIME.
Harrison and ORG are thought to be working on methods to make profitability more sustainable -- a quandary which is at the centre of the debate on the investment banking industry.
The industry's detractors, among them ORG ORG chief PERSON, always point to the fact that the revenue stream cannot be relied upon as it is subject to market volatility.
In the good times, when markets are booming and mergers and acquisitions on a roll, investment banks rake in profits as if there is no tomorrow and the participants get paid huge bonuses.
But in the bad times, the banks can rack up heavy losses in markets which suddenly look very over-populated.
Diamond, in common with the head of the PERSON group, chief executive PERSON, is known to want to intensify the return on capital employed in the business.
He knows that unless ORG's profits are sustained at high levels, he will find it difficult to put together the kind of team needed to succeed in an increasingly competitive and crowded environment.
No aspect of BZW's markets business from gilts to JGBs (NORP government bond) and dollar/yen to copper will be left out of the in-depth review, banking sources added.
In the meantime BZW, along with other banks, will also continue to react to more short-term events in the markets.
For example the departure of foreign exchange traders follows a period of reduced volatility in the market over DATE.
Ironically, such periods of volatility are key to both outperformance and underperformance which dictate returns on capital for investment banks.
-- GPE PRODUCT +44 CARDINAL 8864","ORG on DATE reported a PERCENT rise in DATE pretax profits to MONEY (MONEY) as strong growth in its GPE and GPE banking operations offset a dip at its insurance unit.
Chief Executive PERSON told ORG the bank is constantly reviewing its options to expand market share, especially in the south east of GPE.
""It's right to assume we've been talking to a lot of people,"" PERSON said in an interview. ""People (who are looking for a tie-up) assume they should talk to us because of our lack of penetration in the south east. All I can say is that we are reviewing all the options.""
DATE, ORG arch-rival ORG announced a banking joint venture with retailer GPE and other banks are making moves in the same direction including ORG, which on DATE said it would offer financial services in conjunction with supermarket chain ORG's loyalty card.
It has long been assumed that ORG would boost its distribution by buying an NORP home loans institution and PERSON again refused to rule this out.
""That remains a possibility,"" he said. ""Assuming that a building society became available and that the price was not ridiculous.""
PERSON said any such purchase would have to take into account shareholder value and business criteria like the strength of the brand name.
Some analysts have doubted that ORG capital position would allow a major purchase but PERSON dismissed such doubts.
Noting that its capital position had strengthened over DATE, PERSON said ORG would have no trouble raising money if necessary.
""Whatever we have done with our money has been open to market scrutiny unlike some other companies,"" PERSON said. ""We didn't just pay it down the drain. If we need money, we will make a case and we will get it.""
ORG said its GPE bank ORG, based in LOC, lifted profits by MONEY, or PERCENT, adding that it will continue its strategy of deepening its franchise and expanding its core business.
Profits were also higher in GPE Banking, up MONEY or PERCENT, and this part of the business also showed a healthy improvement in cost-to-income ratio.
The latter fell to PERCENT from PERCENT while the group ratio was down to PERCENT from PERCENT.
Direct Line, which sells motor, house and life insurance, saw profits shrink by MONEY to CARDINAL for DATE as premium rates continued under pressure and it saw increased claims.
PERSON said he was not really disappointed by the Direct Line result -- ""But I'd prefer it (profit) to be bigger, don't get me wrong"" -- saying that it stemmed from the higher rate of claims and market pressure against higher prices.
""The pressure in the market means we couldn't put up prices to compensate but we are making an awful lot more than any of our competitors,"" he said.
PERSON said the outlook was positive for ORG.
""But I'm not jumping to any conclusions. Prices are beginning to move (higher), many companies are losing substantial amounts of money and history tells me that can't continue for very long.""",1
"ORG, the fund management arm of GPE's ORG, said on DATE trading would resume on DATE in its CARDINAL NORP funds suspended DATE.
The CARDINAL funds -- QUANTITY (MONEY)  MG ORG, the CARDINAL MG LOC and the 444 million GPE-listed MG ORG -- were suspended pending investigation into what DMG called ""possible irregularities centring on certain unquoted securities.""
ORG said fund managers will meet their liabilities ""in respect of any irregularities identified in the course of the investigation into the CARDINAL funds.""
GPE's ORG (ORG) has said it is investigating the management of the funds in conjunction with ORG.
A spokeswoman for ORG said it had been working hard with ORG to remove investors in the CARDINAL funds from the state of limbo they had been in since DATE when dealings were suspended.
ORG said it was far too early to tell when the investigation into the funds would be complete.
The investigation is thought to centre on the level of unquoted securities in the fund and their valuation. These include stock in some high-tech NORP companies.
The company said its parent bank, ORG, has bought some of the securities in the funds for its own account with a view to protecting investors' interests. It said that after taking this action ""the prices at which the funds recommence dealing should not be affected by such irregularities"".
Industry sources said ORG may have spent CARDINAL stg buying securities for its own account and thus removing them from the funds.
The sources said the theory behind the action was that, with the suspect securities removed, the funds should resume dealing at prices close to where they were suspended.
But the 150 million pounds spent by ORG may not be lost because the stock will have a certain value which remains to be set.
ORG said enquiries centre only on the CARDINAL funds and that dealing in all other ORG investment funds are unaffected.
PERSON confirmed that PERSON the manager of CARDINAL of the funds -- MG ORG and MG European Capital Growth -- has been suspended and said he has been replaced by PERSON who until DATE was manager of its offshore MG NORP Profund.
Industry sources said the market will be relieved that ORG has moved quickly to quell speculation and return the funds to an even keel but said confidence in GPE may take longer to restore.","ORG is constantly reviewing its options to expand its distribution channels, especially in the south east of GPE, its chief executive PERSON said on DATE.
""It's right to assume we've been talking to a lot of people,"" PERSON told ORG in an interview. ""People (who are looking for a tie-up) assume they should talk to us because of our lack of penetration in the south east. All I can say is that we are reviewing all the options.""  
He was speaking after the bank announced a PERCENT rise in pretax profits to CARDINAL stg, towards the higher end of market expectations, which saw ORG shares rise CARDINAL to 530p.
DATE, ORG arch-rival ORG announced a banking joint venture with retailer GPE and other banks are making moves in the same direction.
It has long been assumed that ORG would boost its distribution by buying an LANGUAGE building society and PERSON again refused to rule out this possibility.  
""That remains a possibility,"" he said. ""Assuming that a building society became available and that the price was not ridiculous.""
PERSON said any such purchase would have to take into account shareholder value and business criteria like the strength of the brand name.
Some analysts have doubted that ORG capital position would allow a major purchase but PERSON dismissed such doubts.  
Noting that its capital ratios had strengthened over DATE (tier one to CARDINAL pcercent from CARDINAL and total to CARDINAL from CARDINAL), PERSON said ORG bank would have no trouble raising money if necessary.
""Whatever we have done with our money has been open to market scrutiny -- unlike some other companies,"" PERSON said. ""We didn't just pay it down the drain. If we need money, we will make a case and we will get it.""
ORG results included a PERCENT gain for the GPE banking operations and a PERCENT rise for its LOC banking unit PERSON.  
But difficult trading conditions at its insurance unit PRODUCT saw profits there collapse by CARDINAL stg to CARDINAL.
PERSON said he was not really disappointed by the Direct Line result -- ""But I'd prefer it (profit) to be bigger, don't get me wrong"" -- saying that it stemmed from the higher rate of claims and market pressure against higher prices.
""The pressure in the market means we couldn't put up prices to compensate but we are making an awful lot more than any of our competitors,"" he said.
PERSON said the outlook was positive for ORG.
""But I'm not jumping to any conclusions. Prices are beginning to move (higher), many companies are losing substantial amounts of money and history tells me that can't continue for very long.""
In the GPE bank, cost to income ratio dipped to PERCENT from PERCENT as the effects of the bank's ""LOC"" restructuring continue to come through. -- GPE PRODUCT +44 CARDINAL 8864.",1
"GPE has sentenced CARDINAL veteran democracy activists to hard labour for DATE, a fellow dissident said on DATE.
Authorities in GPE in central GPE's GPE province sentenced PERSON to DATE of re-education through labour, the dissident told ORG by telephone.
Fellow activist PERSON, who had worked with Fu on pro-democracy tracts, had been sentenced to DATE of labour reform, said the dissident who asked not to be identified.
""The reason was because they published articles abroad about democracy,"" said the dissident. ""They just wrote some articles. There really was no reason for this.""
Authorities had branded the essays counter-revolutionary, said a statement by ORG in GPE.
NORP police detained Fu, DATE, in DATE for what they said were illegal political activities.
PERSON, DATE, had been arrested in GPE in DATE and was sentenced together with Fu, the source said, adding he did not know when the sentences had been passed.
Police in GPE contacted by telephone declined to comment on the cases. Family members were not available.
Fu moved to GPE in DATE, complaining of repeated harassment by police in GPE in the eastern province of GPE, where he had been living with his wife.
Fu previously served DATE in a labour camp for his role in the student-led demonstrations in GPE's FAC that were crushed by the military with heavy loss of life on DATE.
Police detained Fu for DATE in DATE after he, along with dissidents PERSON and PERSON, wrote a letter calling for the release of PERSON, widely regarded as the father of GPE's modern democracy movement.
Fu also joined in an appeal with ORG and PERSON to GPE's parliament before the DATE anniversary of the bloody DATE crackdown, demanding the release of those jailed for their involvement in the movement.
Fu and PERSON sentences come amid a widening crackdown on dissent by GPE. Most dissidents are already serving lengthy sentences in prisons or labour camps or have been forced into exile.
GPE drew international condemnation when a GPE court sentenced former student leader PERSON to DATE in prison in DATE for conspiring to subvert the government.
GPE dismisses criticism of its human rights record as interference in its internal affairs.
A NORP court DATE sentenced dissident PERSON to DATE in prison for counter-revolutionary incitement.
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 borders GPE, CARDINAL labour activists are standing trial for conspiring to subvert the government.","GPE announced a major reform of its huge agricultural system on DATE, saying it would take the ambitious step of unifying the price the state pays for grain with the market rate to boost output DATE.
In a speech outlining some of GPE's plans for reform in DATE to drag GPE's economy away from NORP-style central planning and toward stronger market forces, ORG member PERSON cited reform of lumbering state enterprises and agriculture as CARDINAL primary objectives.
GPE would unify the grain purchasing price with market prices DATE, PERSON, the minister in charge of ORG for ORG, told a national conference on reform in the southern city of GPE.
The system of cotton purchasing would also be reformed.
He gave no more details of how prices would be unified, but the move appeared to herald the effective liberalisation of grain prices.
Since paramount leader PERSON launched economic reform in DATE, GPE's communist leaders have tried -- and failed -- to free grain prices, falling foul of fears that spiralling prices would make food unaffordable for many of GPE's CARDINAL people and spark social unrest.
GPE's central authorities still buy a certain amount of grain from farmers at set prices below the market rates to ensure ample stores in state granaries.
With a record harvest of QUANTITY forecast for DATE and with market prices falling closer to the state level, analysts said the time was ripe to unify the system.
Officials said DATE grain supply was expected to exceed demand in DATE, with planting and weather conditions indicating a good summer crop DATE.
Officials have said difficulties in selling grain would sap farmers' incentive to plant, placing in jeopardy GPE's ability to feed itself without resorting to huge imports.
PERSON said the state would separate national grain reserves from regional ones and would divide the responsibilities of the central government from local governments, but gave no details.
DATE the government would also separate losses incurred by state grain enterprises in DATE from those expected DATE and thereafter, he said. He did not give further details.
DATE GPE raised by PERCENT the purchase price it pays to farmers for their grain after holding down increases in DATE because soaring prices DATE had helped to push inflation to a communist-era high.
Li did not say whether the government would also take the opportunity to force urban consumers to pay market prices for grain, thus extricating state coffers from the burden of huge subsidies when plentiful supplies could curb price rises.
On state enterprises, PERSON said GPE would reorganise assets of ailing factories and establish a new system of supervision, while pushing social security and housing reforms.
In DATE, the number of pilot cities chosen for experimental reform of capital structure of state firms would be increased to CARDINAL from DATE, PERSON said. Enterprise groups selected as pilots of reform would almost double to CARDINAL from CARDINAL.
The number of key enterprises linked with a sponsoring bank, and thus given easier access to loans during a continuing credit squeeze, would rise to CARDINAL from CARDINAL, he added.
PERCENT of GPE's CARDINAL state industrial firms registered losses in DATE, a rise of PERCENT from DATE, latest figures show.
The combined deficit of loss-making state firms hit MONEY (MONEY) in DATE, a rise of PERCENT from DATE.",0
"NORP-GPE autocomponents giant ORG unveiled a major corporate shake-up on DATE planning CARDINAL non-core disposals and a speeded-up rationalisation which will axe CARDINAL jobs worldwide over DATE.
LucasVarity, created by a merger DATE of GPE's ORG and ORG of the GPE, said it had identified a range of additional restructuring plans that meant it now saw operating savings of MONEY (MONEY) -- double the level anticipated after the merger.
The market initially welcomed the news and the company's shares jumped to a new DATE high of MONEY. But downbeat company comments about the auto industry during a telephone conference call to analysts sent the stock slumping to close a sharp MONEY lower at ORG.
""They said that things were relatively tough in GPE and in the heavy truck market, particularly in LOC, and that they weren't immune to the trends we are seeing in the (competitive) market,"" said CARDINAL analyst, who declined to be named.
ORG expects to take an extra CARDINAL-off charge of MONEY, mainly in non-cash items, which will be levied along with QUANTITY of costs already planned for DATE accounts.
Worldwide headcount will be cut by CARDINAL over DATE as a result of the moves, the company said.
CARDINAL companies have been marked up for sale after the DATE review which came in the wake of the multi-billion pounds merger between GPE's ORG and ORG of the GPE which became effective in DATE.
Commenting on the speed of disposals, PERSON, chief executive, told ORG the group was ""sifting through some offers"" and expected to be in ""active negotiations"" on the sale of some of the CARDINAL quite soon.
CARDINAL of the CARDINAL businesses marked for sale were named in the restructuring statement released earlier. PERSON said that major businesses like aerospace and electronics were not among the unnamed CARDINAL.
The CARDINAL named so far are small niche businesses and include starter and alternator firms in GPE, GPE and GPE. The CARDINAL disposal targets have combined sales of MONEY.
The criteria for divestment were those firms which ""neither fitted into the core strategy of the company or contributed economic added value,"" said PERSON.
Commenting on the rationalisation moves, PERSON, who came from the ORG side of the merger, said ""the combination of cost savings and anticipated revenue growth identified by these teams will help the company achieve the aggressive performance targets it has set for itself.""
He said the post-demerger savings were ""virtually double"" original expectations. The process of cost cutting would continue he added, concluding that he was ""pretty excited for the future"" of the merged business.
LucasVarity is involved in the design, manufacture and supply of systems, products and services in international automotive, diesel engine, aftermarket and aerospace industries.
Both parties in the merger specialised in braking systems and industry sources expected that many of the rationalisation measures would affect production and employment in these units. ($MONEY Pound)","NORP entrepreneur PERSON ORG said on DATE it had clinched the ORG passenger rail franchise and planned to spend QUANTITY (MONEY) on new trains and increased services.
CrossCountry, which covers CARDINAL stations and is based in the central NORP city of GPE, is CARDINAL of the last few passenger rail franchises to be awarded under GPE's rail priavatisation programme.
The company has CARDINAL staff and in DATE passenger revenues were MONEY.
""Our key plan is to buy a new fleet, spending CARDINAL on new rolling stock, agreed as part of the bid,"" PERSON, director of ORG, said in an interview.
Train orders will be placed DATE, with the ORDINAL deliveries due to be made in DATE. Under ORG's financial terms with the government, it will get a subsidy in DATE of DATE franchise of MONEY. This is MONEY less than in CARDINAL.
Whitehorn said the subsidy will be eroded over DATE term and in DATE ORG will make a CARDINAL payment to the government.
It will refurbish existing HST CARDINAL diesel trains and has pledged to increase train miles by PERCENT. ""We will grow the service, we will not cut them."" he said.
The services will be rebranded under the PERSON name and cover destinations across GPE, GPE and GPE.
This is the ORDINAL rail franchise to be awarded to ORG which also bid unsuccessfully for the ORG route which went to ORG buses.
But Virgin is on the shortlist for LOC rail franchise and has a bid in for the PERSON service in GPE. There are CARDINAL rail franchises in all, covering passenger services across GPE.
So far the government has sold CARDINAL franchises to the private sector as part of its privatisation of the entire network.
The Virgin empire, which spans everything from its airline, music and financial services to its own-label cola, already has a major rail business.
It is a partner in the GPE and NORP Railways consortium which owns the ORG passenger service linking GPE with GPE and GPE through ORG.
Service through ORG were suspended DATE after a serious fire.
Whitehorn refused to comment on the financial impact of the closure of ORG's tunnel.
LCR has said that it needs to raise ORG's passenger traffic to fund construction of ORG between the tunnel and GPE. ($MONEY Pound)",1
"ORG, GPE's ORDINAL largest bank, joined a once exclusive club on DATE, reporting its MONEY DATE profit.
The GPE-based bank said net income jumped PERCENT to MONEY in DATE. It also rewarded shareholders with a C$MONEY increase in its DATE dividend to C$MONEY a share, its ORDINAL dividend hike of DATE.
""ORG's financial results exceeded our targets once again in DATE,"" chairman and chief executive PERSON said in a statement.  
Scotiabank was the ORDINAL of GPE's Big Six banks to break the MONEY threshold.
ORG posted MONEY MONEY profit on DATE when it kicked off the NORP banking group's DATE reporting season.
ORG joined the club DATE, following ORG in DATE.
Godsoe said all of ORG's main business lines contributed to its record performance, including personal, corporate and investment banking. Improved credit quality also contributed to the bank's bottom line.  
Return on equity, a key measure of profitability, rose to PERCENT in DATE from PERCENT DATE.
The bank's DATE earnings were slightly better than the average of analysts' estimates.
Earnings rose to C$MONEY a share in DATE from C$MONEY in the same period in DATE.
The consensus forecast from analysts was C$MONEY or C$MONEY a share. ""They are strong and probably surprising,"" CARDINAL industry analyst said.
Other analysts said the results were in line with their expectations.  
PERSON, an analyst with ORG, had forecast C$MONEY per share in DATE.
""They were right in line,"" PERSON said, adding that the bank's loan losses and the dividend increase were expected.
Scotiabank stock rose CARDINAL to CARDINAL in TIME turnover of CARDINAL shares on ORG.
Among other financial highlights:
* Net interest income rose PERCENT to MONEY in DATE, due mostly to strong growth in earning assets across all business lines. The bank also posted securities gains of MONEY in DATE, versus gains of MONEY in DATE.  
The cost of funding impaired loans also fell due to lower interest rates and a drop in the level of impaired loans.
* Other income jumped PERCENT to MONEY in DATE. The bank attributed the increase to stronger revenues from electronic and card services and higher loan fees.
With financial markets enjoying a prolonged rally in DATE, the bank's full service and discount brokerage operations posted a PERCENT jump in revenues.
* Non-interest expenses grew by PERCENT to MONEY, due mostly to performance related compensation and higher business volumes.  
* Net impaired loans fell PERCENT to MONEY in DATE. Net impaired loans as a percentage of total loans and acceptances improved to PERCENT, their lowest since DATE.
* Provision for credit losses dropped to MONEY in DATE, down from MONEY DATE. The bank's general provision remained at MONEY.
-- ORG (CARDINAL) 941-8100","This DATE's rally at 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 now up PERCENT after a correction 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 DATE 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 next year - 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, which was now 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 th index would climb to 8000 by DATE and DATE by DATE.
But some analysts were more bearish, with PERSON, president of GPE-based ORG, predicting the index would sink to DATE by DATE and CARDINAL by DATE.
Ing said interest rate hikes would cut short the party.
""The inevitable increase in rates has got to happen sometime within DATE and that will test the markets,"" Ing said.",0
"NORP cargo carrier ORG said on DATE it has increased the number of flights from GPE due of high LOC demand.
ORG has CARDINAL DATE ORG PRODUCT freighter flights DATE instead of CARDINAL per week and said it can't keep up with current demand.
""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 told ORG.
The additional flights on DATE are to both the GPE east and west coast - GPE, GPE then onto GPE and GPE. - Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017","ORG said DATE it would consider mergers and acquisitions, but not a restructuring, after ORG eliminated the company from the race to build a new generation fighter jet that eventually could be worth MONEY or more.
""We've always been interested in mergers and acquisitions and we continue to look at them,"" Chief Executive Officer PERSON said in an interview with ORG financial television network.
The ORG on DATE awarded DATE contracts to ORG and ORG to develop prototype fighter jets for DATE for ORG, ORG, ORG and ORG.
The decision was a blow to GPE-based ORG, the nation's ORDINAL-largest defence contractor and a long-time leader in fighter jets, and could force it to restructure, seek a merger or become more acquisition-minded, industry analysts said.
PERSON had reportedly had preliminary merger discussions with ORG DATE. Stonecipher would not comment on any specific mergers or acquisitions.
""I don't think ORG would be on our radar screen,"" he said regarding a possible acquisition. ""We may be on theirs.""
Stonecipher also said he would be interested in trading ORG commercial aircraft assets for ORG's military aircraft business, but noted there have been no talks in that area. ORG said it did not comment on rumours or speculation about mergers and acquisitions.
Already the smallest of the CARDINAL major commercial jet makers, ORG said DATE it would not continue to compete against ORG and LOC's ORG in the market for the biggest commercial jetliners.
NORP and GPE forces have announced plans to buy CARDINAL of the new generation fighter jets, with initial delivery scheduled for DATE.
With potential export sales of another CARDINAL jets and additional funding for development and support, the programme could be worth MONEY over DATE, industry executives said.
ORG stock lost $MONEY to $MONEY on ORG, where it was one of the biggest losers of DATE. ORG rose MONEYMONEY and ORG rose $MONEY to $MONEY, also on the ORG.
PERSON, an analyst at ORG, said the decision could force GPE-based ORG to seek acquisitions more aggressively to help build its business, or into a merger with another defence or aerospace company.
""Everything's back on the table,"" PERSON said.
In DATE, ORG has been the subject of rumoured talks with ORG, ORG and ORG
""This will be something of a wakeup call,"" ORG analyst PERSON said. ""It's a fairly sharp and dramatic blow to ORG and I would venture to guess one they probably didn't see coming.""
ORG's PERSON said, ""Without having the internal growth such as joint strike fighter would give them, they're going to have to grow through acquisition."" That could include ORG defence electronics business, which is for sale, according to published reports.
""ORG is a very interesting property if in fact it is for sale,"" Stonecipher said in repsonse to a question about the defence electronics business.
In a statement to employees DATE, Stonecipher noted the company's backlog of aircraft orders to the military at home and abroad and said it was pursuing other orders. The company has a MONEY order backlog, a spokesman said.
""This decision does not mean we are out of the military aircraft business,"" Stonecipher said.
ORG currently builds the PRODUCT fighter and the ORG-Marine F-18E/F as well as the PRODUCT military cargo plane. Both the PRODUCT and PRODUCT are to be replaced by the joint strike fighter in DATE.",0
"GPE's diamond industry, bogged down by structural chaos and unauthorised exports, cast a shadow over world gem markets on DATE by saying that prospects for a trade deal with ORG by DATE looked grim.
But a senior spokesman for GPE's diamond company Almazy Rossii-Sakha, or ARS, which is ORG negotiating partner and GPE's near-monopoly producer, said GPE would eventually negotiate a deal and quitting the cartel was not an option.
ORG, frustrated over GPE's lack of response on a new trade deal and irritated by gem exports outside an interim scheme, gave GPE until DATE to sign a trade deal and said it would otherwise terminate the interim arrangement.
ARS spokesman PERSON, asked if the government would meet the deadline, said, ""You should ask the government, especially the finance minister. This is his question --- and it's hard to say whether he'll find time.""
GPE is a key player in the world diamond trade, supplying ORG with PERCENT of its total rough gem sales. ORG accounts for PERCENT of global rough diamond sales.
But the CARDINAL sides have gone through DATE with no formal trade agreement and have functioned via a DATE memorandum which ORG said GPE had violated with secret gem exports.
""We have been extremely patient and have respected GPE's current interests,"" PERSON, general director of ORG GPE representation, told a news conference.
""Moreover we would have probably continued (with the interim deal) had the contract been respected,"" he said, citing what he called ""major leakages"" of NORP gems onto world markets.
He declined to say how large the leaks were, adding, ""We only know that the total of the leaks is substantial.""
Logunov slammed the assertion, which is widely supported by international diamond traders.
""Let ORG figure it out themselves -- if they can't say concretely where they're from, how do they know it's happening?
""Of course this alarming and of course we want an agreement signed. Therefore, ORG should not push worried colleagues into a corner.""
He said the Sakha republic -- where ORG is based and which has its own draft trade deal with ORG -- had been buying up to CARDINAL of ARS output, DATE valued at MONEY, over DATE.
PERSON said he did not know where the leaks were coming from but said ORG was frustrated with the government's lack of response to a draft trade agreement presented in DATE.
""From that date, we have been continually knocking on their door to get some kind of response,"" he said. ""We have had not one official statement made from the government.""
Finance Minister PERSON told NORP news agencies on DATE that GPE wanted to rework the agreement before signing it.
ORG said it was ORG's task to guide the DATE draft deal through the government.
""We are doing this, maybe not as actively as we should -- but not because we are not interested in the agreement, but because of the situation on the territory where several processes are taking place.""
He was referring to presidential elections set for DATE in Sakha, which is also known as LOC.
""There are a lot of opponents to the company that have the right to sell diamonds, and this of course doesn't make things easier for ORG,"" ORG said.
But he said: ""These CARDINAL companies cannot part -- otherwise, it's chaos. There would be no rules to the game.""","PERSON, chairman of ORG, said on DATE that his group was not going to sell ORG's prized digital television know-how to GPE ORG.
Lagardere, adressing students at the ORG university during DATE seminar on industry, said in his ORDINAL public comments after winning the bidding for state-owned ORG that he had selected ORG as partner because it was the best guarantee for jobs at ORG NORP production units.
The NORP government on DATE announced it had selected Lagardere to buy state-owned ORG for one franc, after an MONEY capital injection.
Lagardare had been bidding against telecommunication equipment and industrial engineering group ORG.
Lagardere Groupe plans to merge its ORG defense business with ORG's PERCENT unit ORG, after buying out the minorities on ORG, and has agreed to sell ORG to ORG -- also for a symbolic franc.
Lagardere heard the news that his group had won the bidding, -- against expectations as the NORP media expected ORG and its no-nonsense chairman PERSON to be the winners -- on DATE TIME during an official dinner at the start of a WORK_OF_ART exhibition in GPE.
""I did not feel like I received the golden medal,"" Lagardere said. ""I felt like I was selected to play for GPE,"" the DATE businessman said.
""In DATE time, while I will then still be involved in our business, I hope that people like (ORG boss) PERSON can celebrate the award of a golden medal. We will have a good team in an industry where competition is without pity,"" he said.
Lagardere, a ORG farmer's son who built a worldwide books-to-missiles business empire from a small company he joined DATE, is facing criticism by some NORP media and labour unions for selling the ORG business to ORG.
The critics blame him for selling NORP technology to a NORP company and they also expect massive job losses.
Lagardere said these remarks were not true.
He said that back in DATE when President PERSON ORDINAL mentioned the privatisation, he believed the state was only going to sell ORG as part of a defence overhaul.
""But then ORG came from behind and integrated ORG into the deal,"" Lagardere said.
""So I went to look for partners. I searched in LOC, the GPE, GPE and GPE. I choose ORG because I thought they were the best guarantee for jobs, "" he said.
ORG plans to create CARDINAL jobs in GPE at ORG, the world's ORDINAL biggest maker of televisions which employs CARDINAL people world-wide.
""I give my personal guarantee to those (NORP) jobs. ORG has made commitments to the government and to us,"" he said.
While ORG is taking over the television and video recorder production activities. ORG digital television know-how will be put into a special joint-venture.
""We took the technology out of the company and put it in a joint venture (with ORG) in which we have PERCENT,"" Lagardere said. While he used the past tense on DATE, ORG and ORG still have to approve the deal, which is scheduled for completion at DATE.",0
"ORG DATE  reached a tentative deal to end a DATE strike at its truck plant in GPE, GPE, the last of a recent wave of local walkouts against the automaker.
CARDINAL members of ORG Local CARDINAL were scheduled to vote on the tentative local labor agreement at TIME DATE meeting.
Production of ORG and ORG and ORG full-size sport-utility vehicles at the GPE plant could resume shortly thereafter if the deal is ratified, said ORG spokesman PERSON. The trucks are among ORG's most popular and profitable vehicles.
The resumption would mean that by DATE, all of ORG's NORP car and truck operations would be operating normally for the ORDINAL time since DATE, when CARDINAL members of ORG went on strike.
ORG was still reeling from the NORP strike when workers at GPE and ORG's GPE metal stamping plant walked off the job DATE. By DATE, the auto giant had CARDINAL GPE workers idled by the CARDINAL local ORG strikes and lingering NORP parts shortages.
However, the ORG has threatened ORG with additional local walkouts if the automaker drags its feet in plant-specific negotiations with the rest of its CARDINAL locals.
Neither ORG nor officials for Local CARDINAL would discuss details of the agreement. The union's members walked off the job DATE over plant-specific issues, including demands for more workers to ease the burdens of heavy overtime and an increasing production rate.
""We're confident we've got a fair and equitable agreement for our membership,"" said ORG, a spokesman for Local CARDINAL in GPE. ""We just want to get back to work building trucks and provide for our families, like everybody else.""
To settle the GPE strike, ORG agreed to hire CARDINAL more workers, pay MONEY in back pay to workers and drop plans to change job classifications for skilled trades workers.
ORG truck plants in GPE, GPE, and GPE, GPE, which were shut down by a lack of fenders, doors, and other steel body panels from GPE, will be back to their normal work schedules by DATE.
But the automaker's GPE, GPE, plants which halted CARDINAL of CARDINAL production shifts because of the NORP strike, will keep CARDINAL workers on temporary layoff for DATE. The extended layoff is aimed at reducing dealer inventories of ORG's all-new, full-size vans, PERSON said.
Despite an all-new design for DATE and a complete renovation of the ORG factory, he said the new ORG and ORG were falling victim to lower demand for all full-size vans.
Also on DATE, CARDINAL ORG local leaders from plants around the country will meet in GPE to review details of the union's tentative, DATE national contract with ORG. They must approve the pact to send it to ORG's CARDINAL GPE TIME workers for ratification.
The contract is expected to give ORG flexibility to exit some unprofitable parts businesses and reduce its workforce through attrition and early retirements, while nominally guaranteeing that the automaker will maintain TIME employment at PERCENT of its current level.
The PERCENT job guarantee was a cornerstone of the ORG's contracts with ORG and ORG, which also offered workers a $MONEY bonus in DATE of the pact, follwed by PERCENT raises in DATE.","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 labour 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.",1
"Shares in NORP brewing and sports firm Molson Cos. Ltd. sank on DATE after its ORG unit lost the rights to brew PRODUCT, GPE's top-selling light beer, in a dispute with ORG..
Investors pounded PERSON's stock after an arbitration panel ruled DATE that PERSON reliquished its right to brew and sell ORG products in DATE when ORG acquired a stake in the NORP brewer.
PERSON class A stock closed down C$MONEY at C$MONEY on ORG after earlier sinking to C$MONEY, just shy of its DATE low.
""It was a pretty severe ruling and I think it surprised PERSON, surprised ORG and, frankly, surprised the street,"" said PERSON, an analyst with ORG, ORG
The panel said PERSON breached its licensing agreement with ORG by allowing ORG, a unit of ORG. Inc., to buy a PERCENT stake without ORG' consent.
PERSON is also owned PERCENT each by PERSON and GPE's ORG..
The panel ordered PERSON to pay ORG all the profits it earned from selling ORG beer since DATE, an amount that has yet to be determined.
ORG brands produced by PERSON -- Coors Light and Original Coors -- account for PERCENT of its sales volume. PRODUCT is the dominant light beer in GPE, commanding a CARDINAL to PERCENT share of the beer market.
Analysts said PERSON can ill afford to lose a profitable brand as it battles rival ORG in a domestic beer market that has been flat for DATE.
""You start losing volume and it has a significant impact on your profits. It's very important to PERSON to negotiate a deal with ORG,"" said Palmer.
While PERSON officials said they are willing to negotiate a new licensing agreement, ORG was keeping its options open.
""What we need to do is go through the panel's ruling and understand all of the aspects of the ruling and then analyse what our options are,"" said ORG spokesman PERSON.
He declined to outline ORG' options for the NORP market. But analysts speculated that ORG could cut a richer deal with PERSON, ship product directly to GPE or buy a local brewer to produce ORG in GPE.
""The easiest option is to negotiate a deal with PERSON. They've had a big win here so it's time to kiss and make up,"" said Palmer.
If there is a new deal, ORG will likely seek more control over its brands and higher royalties from PERSON, said PERSON, PERSON's vice-president of corporate affairs.
If PERSON cannot negotiate a new licensing agreement, ORG said the brewer would consider its options, including launching a new light brand.","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 favorable 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.",1
"GPE computer hardware makers are expected to report mixed results for DATE starting DATE, as some companies are still in the throes of product transitions, but a few will have solid earnings.
Among the large system makers, ORG is expected to have good results, but ORG is expected to report a loss.
""Product transitions and GPE strength, those are some issues for DATE,"" said PERSON, a ORG analyst.  
Currency will play less of a role than it has in DATE, when it has had a negative impact on earnings, especially at multi-national giants like ORG.
""The negative impact from currency exchange rates is much reduced from DATE results,"" said PERSON, a ORG analyst, referring to large computer systems makers.
LOC is still an issue for some companies, such as ORG, and DATE will include the sluggish DATE of DATE, when many NORP are on vacation.
""They (ORG) have significant exposure to LOC,"" said PERSON, a ORG analyst.  
PERSON said that ORG has more exposure in LOC, which has been ""a bit under water,"" than ORG. ORG recently revamped its sales force in LOC and made changes in its distribution channel there, to help sluggish NORP sales.
Product transitions are still ongoing at some companies, such as ORG and ORG
ORG has now completed a refresh of most of its hardware products, including its lower-cost mainframe line, the ORG vesions of its PRODUCT mainframes and analysts are awaiting results of DATE to include any impact from the much-anticipated systems.  
""We expect ORG to highlight the success of its ORG mainframes,"" WORK_OF_ART said.
In the personal computer arena, analysts expect ORG to again be the leader of the sector, but they do not expect a record quarter for the world's largest PC maker. Its strongest sales are in DATE.
""I think the company had DATE and they probably gained market share,"" said PERSON of Brown Brothers Harriman, adding that it was a ""so-so quarter"" for the rest of the PC industry. ORG has the highest profit margins in the industry and PERSON said its margins should be up slightly.  
Among the weaker players in PCs, ORG is expected to report a loss, but analysts said they are more focused on the company's comments going forward. The troubled PC maker has previously forecast that it would return to profitability in DATE.
""Their ORDINAL order of priority is to eliminate the losses,"" PERSON said. ""Can they reach break-even by DATE or DATE? Once we get to that point, we will look to see if they can begin to grow their revenues.""
PERSON is forecasting ORG's revenues will fall PERCENT, versus DATE period.  
The following is a list of consensus earnings estimates for some major GPE computer makers, as compiled by ORG.
COMPANY	    CONSENSUS	  DATE	  YEAR-AGO
ORGloss $MONEY	 DATE     profit $MONEY
ORG   loss $MONEY	 DATE     profit $MONEY
ORG  profit $MONEY     DATE     profit $MONEY
ORGloss $MONEY	 DATE     profit $MONEY
ORG	   profit $MONEY     DATE     profit $MONEY
ORG	  profit $MONEY     DATE     profit MONEYORGprofit $MONEY     DATE     profit $MONEY","ORG satellite company ORG -- in the business only since DATE -- gave the nascent industry a major jolt DATE when it cut prices sharply.
Then on DATE, ORG, which dominates the satellite TV dish market, matched ORG's $MONEY price.
ORG executives said the new price will surely shake up the industry and fuel sales for what is the 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, the GPE unit of ORG in GPE.
The move by ORG 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 cuts the total price to $MONEY for consumers who pre-pay for DATE of programming.
The lower price will make it harder for new entrants in the industry to make money.  
""We know the telcos and the cable companies are getting more involved,"" PERSON said. ""We are going to capitalize on our strengths now.""
He added that the $MONEY price will make the ""awareness base explode.""
Thomson has PERCENT of the digital satellite system dish market, which amounted to CARDINAL units at DATE, according to ORG.
""It's been a real winner for them,"" said PERSON, an analyst at ORG, a market research firm in GPE, GPE ""Plus it has launched them into the international marketplace.""  
PERSON said that, outside GPE, satellite television is gaining markets where there is no cable because it can leapfrog 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 the GPE, as vaunted digital cable systems undergo trials.
New competitors see an opportunity in digital satellites -- a technology that is here now and working. ORG, aligned with PERSON ORG, already has a valuable GPE satellite slot.  
When asked how low prices of the satellite dishes could go, PERSON joked he had never seen prices in consumer electronics go up. Analysts expects 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 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.",1
"A strong showing in runoff ORG elections at DATE may breathe new life into the NORP governing coalition, but it will do little to resuscitate the country's dormant capital market, analysts said on DATE.
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 analysts said that while the news could have been worse for investors, the strong centre-right showing does nothing to solve the maladies which continue to plague the market.
""I think the market's reaction will be fairly positive, but in DATE time it will probably have settled down into acknowledging that this has not changed the situation of DATE at all,"" PERSON of the research house ORG told ORG.
""It has just not made it worse,"" he added.
The coalition's strong showing in the ORDINAL round of voting DATE helped spur domestic investor interest, pushing the market up in its wake.
Analysts said, however, that with this fillip already built into prices, stocks will probably not rise too much further in the near future.
The NORP crown also gained some ground against its dollar/mark basket on the back of the ORDINAL round results, but it too should not rise significantly on the final outcome of the vote, they added.
""It seems that the final results of the elections reflect the current structure of the political situation here so I don't expect any significant changes or amy development as a result of it,"" said PERSON of Patria Finance.
Analysts said that until legislation is tightened to bring about more market transparency and stronger minority shareholder protection, key foreign investor interest will remain low.
""I think there has been a result built into the market from the good ORG results DATE, and everyone expected that the coalition would win this ORDINAL round,"" said CARDINAL analyst.
""There are still other difficulties that will keep the market relatively depressed such as a lack of regulation that will keep foreign investors away. This is a more important issue over the medium-term than the ORG elections.""","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.
Early results showed candidates of ORG's ORG (ODS) ahead in the few constituencies declared so far but without the majority of the vote needed to win outright, meaning they will face the runner-up in a ORDINAL round.
Foreign Minister PERSON, an ORG vice chairman, welcomed the results but warned supporters against overconfidence. ""I'm very happy that several of our candidates have moved into the next round,"" he told reporters.
But he added: ""I warn you, add up all the votes for all of the candidates and think how they will go in the ORDINAL round. The situation is not as rosy as it may appear from the numbers of ORG candidates that are moving into the next round.""
With CARDINAL of the CARDINAL constitunecies officially declared, the striking statistic was the turnout figure which ranged from PERCENT in the northern mining town of Most to CARDINAL in one constituency in the industrial city of ORG.
One official of ORG, PERSON, forecast that turnout nationwide would be by far the lowest in the CARDINAL parliamentary elections held since the DATE fall of communism. ""According to optimistic expectations, the turnout could be CARDINAL,"" he told ORG.
This suggested the real winners might not be ODS or the opposition NORP, but the far-right NORP who boycotted the ORG polls and told Czechs to follow suit.
Opposition Social NORP leader PERSON bewailed Czechs' apathy towards the upper house, but predicted turnout would improve in the ORDINAL round on DATE.
""I would like to remind all voters who criticise our country that by not voting they do not have the right to criticise the government. They have only the right to criticise themselves,"" said PERSON, who is speaker of the lower house.
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,"" he said.
Share dealers welcomed signs that ORG, which has led free-market reform in DATE, would do well.
""The early results appear pleasantly good for ORG. To me, if these continue, it could be a good result for the market,"" said PERSON of ORG
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"".
CARDINAL complaint among voters was that many of the ORG candidates were unknown as government and opposition leaders all sit in the lower ORG. Few Czechs have much idea of what the ORG will do.
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.
But PERSON, research director at ORG (OMRI), said these theories may not be valid.
ODS is better at mobilising its supporters 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,"" he said.
-- GPE newsroom (CARDINAL) DATE",1
"PERSON acquisition of ORGamp; ORG looks like a good deal for both insurance giants and an even better CARDINAL for ORG
Aon will pay an aggregate of MONEY for ORGamp; ORG -- a price called reasonable by industry analysts.
Included in that amount is MONEY in cash for ORGamp; ORG's Series B preferred shares, which ORG bought for MONEY in DATE. ""ORG made out pretty good on this,"" said ORGamp; Co analyst PERSON.  
An ORG spokesman declined to comment on the transaction.
Analysts had long expected PERSON to make a major buy. Its purchase DATE for MONEY of ORG ORG unit, a ORDINAL the size of ORGamp; PERSON, did not convince most analysts that PERSON was through expending its MONEY cash warchest. ""Virtually everyone who watches the insurance industry has been expecting this deal,"" WORK_OF_ART analyst PERSON said.
""It's good for Aon. It's good for Alex, too. It gives them something better than what they had. Their (PERSON's) stock price looked like it was going to keep going down,"" ORG said.  
Aon chief executive PERSON is expected to head up the combined operation, with ORGamp; ORG chief executive PERSON expected eventually to step aside.
""I would not be surprised to see PERSON take a consulting role. I would not expect him to be involved to a great extent following the merger,"" ORG said.
In an interview with ORG, PERSON said PERSON was attracted to the strategic fit offered by ORGamp; PERSON.
""They've got a great international business. They've got a wonderful consulting business that fits with ours. And they're strong in GPE, where we are quite small,"" PERSON said.  
Over DATE, the insurance industry has become increasingly competitive and insurers have had to hold down premium increases. Profit margins have suffered in the process and industry consolidation has accelerated.
""There's no end in sight to the DATE soft market,"" ORG said. ""A&A has been struggling for DATE ... Their only realistic alternative would have been to sell to ORGamp; PERSON (Cos Inc). But they've been such close competitors over DATE that there could have been some cultural problems there.""
Aon shares were up CARDINAL to CARDINAL, ORGamp; PERSON was up CARDINAL to 17-1/8, and ORG was off CARDINAL to CARDINAL.
((--Chicago Newsdesk 312-408-8787))","If the weather cooperates, GPE retailers expect DATE to cap DATE that looks moderately better than DATE, despite being shorter by DATE.
""DATE is crucial,"" said ORG retail analyst PERSON in GPE. ""With the snow and cold weather, it's a little too early to tell. ... But on balance, it should be a better holiday sales season than DATE.""
Warmer weather is forecast for much of the country DATE following a cold snap that rattled some regions.
A blast of arctic air slowed shopping DATE in GPE, the GPE, GPE and GPE, said PERSON, spokeswoman for GPE-based retailer ORG, which owns ORG, ORG and CARDINAL department store chains.
Cold, wet weather in the LOC dampened DATE shopping in the GPE area, analysts said.
Snow fell DATE in GPE. And south GPE felt an unfamiliar chill DATE, but the retail impact was minimal. ""It looks fairly good. ... Down here they're buying,"" said PERSON retail analyst PERSON in GPE, GPE The registers are ringing in GPE as well, where weather has not been a problem, said PERSON retail analyst PERSON in GPE. ""It's going to be a reasonably good DATE for NORP consumers and a very good one for retailers,"" he said.
He noted, however, that some sectors are outperforming others. Clothing sales are strong, reflecting perhaps the closings DATE of CARDINAL of apparel retailers, ORG said.
On the other hand, home computer sales continue to look anemic and prices are coming down fast. ""Consumer demand for computers is, in technical terms ... poor,"" ORG said.
There are DATE between DATE and DATE compared with DATE. As a result, retailers have that much less time to meet their sales targets and consumers have that much less time to shop and compare.
""Everybody knew it going in. So they got the ads out early and put the decorations up early,"" said ORG retail analyst PERSON in GPE, where warmer weather is forecast for DATE.
Staring down the barrel of a shortened season, retailers have begun some sales promotions, but DATE huge price markdowns so far are not being matched, ORG said.
""I don't think anybody has gone nuts like they did in DATE,"" he said. ""It's going to be the best season in DATE, but those DATE are a lot to overcome ... That's going to be the story.""",1
"Bargainers for ORG union and ORG continued bargaining on DATE but kept a tight lid on whether any progress was being made toward a new labour pact as a midnight (CARDINAL ORG) deadline loomed.
ORG spokesman PERSON said talks resumed at TIME DATE after they adjourned DATE TIME. He declined to be more specific, or to say if ORG Chairman PERSON is taking part in the discussions at the automaker's headquarters in downtown GPE.
At stake is a new labour 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 not to have a new DATE labour contract.
Analysts speculated that negotiators could be wrangling over contract language that would dictate how many workers to whom ORG is obligated 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 labour 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. Those include 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 selling of CARDINAL parts plants and flexibility to outsource ORG President PERSON had not indicated what he would do after the contract extension expires at TIME. Yokich on DATE set the DATE deadline, but did not actually threaten a strike .
However, there was speculation DATE the ORG could mount a plant-specific strike if enough progress has not been met by the deadline DATE.
By hitting light truck plants, such as the sport/utility facility in GPE, Wisc., the union could hurt the sale of some of ORG's most profitable products at a time when it is trying to bounce back from the NORP strike.
Brickner said the ORG used that strategy in DATE to hamper individual sites without shutting down the entire NORP production system.
ORG's GPE operations continue to respond to the strike by CARDINAL ORG workers.
CARDINAL ORG members at ORG's GPE complex were told not to report on DATE. At the same time, however, ORG was running radio ads telling ORDINAL-shift workers at its GPE assembly plant to report to work on DATE.","A gunman in military fatigues burst into a ORG assembly plant and opened fire DATE, killing one and wounding CARDINAL others before eluding police in a series of draininge tunnels.
Police said they trapped the man and he gave up voluntarily after a tense, DATE standoff.
Sgt. Clarence Goodlein of the Wixom police said the white male shot and killed CARDINAL ORG employee and wounded another, then left the plant and shot an ORG deputy in the shoulder when police tried to confront him.
Goodlein did not identify the victims, but a ORG worker, PERSON, said the man killed was a foreman at the plant.
Deputy PERSON, DATE, was listed in stable condition and was expected to undergo surgery DATE TIME, said PERSON, a spokeswoman for ORG.
The other worker, PERSON, DATE, was treated and released, with a bullet fragment in his arm and glass fragments in his neck.
Goodlein said authorities did not immediately know whether the gunman was a ORG employee.
""This guy came into the plant and with some kind of weapon starting shooting all over the place,"" said ORG spokesman PERSON.
Police shut down nearby FAC, which runs parallel to the plant. Workers were evacuated from the plant and production of ORG PRODUCT and PERSON luxury cars was suspended until DATE.
Carroll said the gunman opened fire in several sections of the plant before before leaving and shooting in the direction of the nearby GPE.
Witnesses said the gunman was dressed in camouflage, with a dark cap and carried an assault-type rifle. It was not known whether he was an employee at the plant, but several said they thought he may be going on a deer hunting vacation.
One employee at the plant, who identified herself as PERSON, told ORG the gunman told her, ""Get out of here"" before he started shooting in the plant.
""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 saiid.
The shooting is the ORDINAL at a ORG plant in the GPE area since DATE. It also falls on the ORDINAL anniversary of a DATE tragedy in which a fired postal worker went on a shooting rampage at FAC, GPE, post office, killing himself and CARDINAL others.
In DATE, a ORG employee killed a security guard at a ORG climate control plant in GPE, GPE, then shot himself. On DATE, a ORG worker at the same factory wounded his estranged wife, killed her boyfriend, then shot himself to death.
In DATE, a ORG official at ORG's Rouge industrial complex in GPE, GPE, shot CARDINAL of his fellow union committeemen to death and wounded CARDINAL others in a dispute over union policy.
ORG, also has had its share of tragedy. In DATE, a worker upset about a job assignment killed his foreman and wounded a coworker at a metal stamping plant in GPE, GPE",1
"ORG, determined to expand overseas, soon will be flying solo at a time when most of its competitors are entrenched in international alliances.
Industry experts said the GPE, Va.-based airline will have a hard time finding a new partner to replace its passenger-sharing pact with ORG.
""ORG wants to duplicate something like the other major carriers have in LOC, but all the dance cards are already full,"" said CARDINAL analyst who did not want to be identified.  
Over DATE, cost-conscious airlines have struck marketing agreements with other carriers in order to extend their reach to new destinations that would be too expensive to serve on their own. Examples include links between ORG and ORG and between ORG and ORG.
On DATE, ORG said it would terminate in DATE its passenger-sharing and frequent flier pact with ORG due to the NORP carrier's proposed alliance with powerhouse ORG  
The move is expected to have little financial impact on ORG, which received far less revenue from the alliance than did ORG.
Because most of the big carriers already have partners, analysts said ORG is likely to pursue international growth on its own for now.  It already is seeking the right to fly to GPE's coveted and restricted FAC from several GPE cities.
The desire for an expanded overseas role is also likely to prompt ORG to re-enter old markets, analysts said. It is best-known for its short-haul routes on LOC.  
""It may be that ORG may return to some of those areas,"" said PERSON, executive of airline consulting firm ORG
Although ORG has the highest cost structure of all major GPE carriers, industry analysts said strong profit margins on long-haul flights would likely offset the expense associated with resuming service in some of those areas.
It also is likely to strike alliances with smaller NORP carriers that could transport passengers beyond any ORG destination.
""That would provide feed for their transatlantic operations, which they would need on that side of the ocean,"" said PERSON of FAC.
In the longer term, however, many analysts remain convinced that ORG will need an extensive alliance or merger with another carrier.","ORG Chairman PERSON is likely step down early to help attract a talented enough successor to take the helm of the nation's largest long-distance company, sources close to ORG said DATE.
They said the person chosen to succeed PERSON, who resigned as ORG president and chief operating officer in DATE to head a small wireless communications company, would expect to be able to succeed PERSON, DATE, well before DATE still to run on his contract.
""I think it is fair to assume that,"" said CARDINAL source, who declined to be identified.
AT&T would not comment on the search for ORG's successor and whether the candidate would succeed PERSON, who is also chief executive officer.
""The search by the board is a private matter and we won't comment beyond that,"" said ORG spokesman PERSON.
Analysts said CARDINAL possibility was that PERSON would split off the role of chief executive to the new president in DATE so but retain his chairmanship until retirement.
""I expect the (AT&T) system would allow and wish Allen to stay on in a senior official position for some time,"" said PERSON at ORG, a consulting firm.
An ambitious candidate would want to make an early impact on the strategic direction of ORG, CARDINAL source said, noting that the fast-changing telecommunications market may be barely recognisable in DATE.
The sources declined to comment on possible candidates, but some names already mentioned in the news media seem to have ruled themselves out.
""There is probably more speculation out there than truth in the media at this juncture"" on the candidates, CARDINAL source said.
CARDINAL candidates mentioned by ORG on DATE ruled themselves out. PERSON, chairman of long-distance company ORG, said through a spokesman he was unaware of being a candidate for the ORG job.
""His contract with ORG precludes working with competitors for DATE after he leaves the company,"" the spokesman said.
Similarly, ORG said its president, PERSON, was unaware of being an ORG candidate.
ORG reported that ORG Chairman PERSON and former ORG director PERSON, now chairman of ORG, also ruled themselves out.
The ORG board meets DATE, DATE before the company reports DATE earnings, and may discuss the issue then.
Allen, a DATE AT&T career veteran, would be reluctant to depart early but said in a recent press interview that he would consider doing so if a perfect candidate came along.
Expectations of an early departure by PERSON were fanned by ORG's warning in DATE when it said earnings per share for DATE may be PERCENT below analysts' expectations.
The warning crowned DATE for ORG, which incurred the wrath of politicians, the media and the public for announcing CARDINAL job cuts in DATE. Meanwhile, the rise in the stock price that job cuts often produce has not materialised, so Wall Street and investors are not happy either.
AT&T's split into CARDINAL parts is proceeding as planned, leaving the company to concentrate on its core long-distance telecommunications business, where competition is heating up.
While the Dow Jones industrial average is up PERCENT so far DATE, ORG shares -- adjusted for the company's breakup -- are off PERCENT.
AT&T has hired executive search groups PERSON and ORG to seek an outside candidate. Officials at both firms declined to comment.",0
"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.","CARDINAL people were killed and CARDINAL injured on DATE when a powerful bomb ripped through a building in GPE, the main town of GPE's northwest GPE province, police said.
The blast occurred in the afternoon at the headquarters of the PERSON, a fund set up to promote cattle-ranching in the province. Police chief Col. PERSON blamed the attack on leftist guerrillas.
The explosion came DATE after a QUANTITY (QUANTITY) car bomb went off in GPE, killing a woman and injuring CARDINAL people. Authorities blamed that attack on drug traffickers in league with leftist guerrillas.
NORP rebels and right-wing paramilitary groups have been waging a fierce battle for DATE in northwest GPE where both blasts occurred.
""Nobody has officially claimed responsibility for this (latest) attack but we know it is the work of subversives, terrorists and vandals,"" GPE police chief PERSON said.
The blast in the downtown area of the small provincial town was the ORDINAL explosion GPE has suffered in DATE. An QUANTITY (QUANTITY) bomb, hidden in a street vendor's cart, exploded outside the town's police headquarters on DATE, injuring CARDINAL people in an attack that was  blamed on ORG (FARC), the country's largest guerrilla movement.
It is not yet clear whether DATE's bomb may be linked to a communique issued on DATE by a hitherto unknown group calling itself the Special Anti-paramilitary Commando.
The group, claiming to be made up of ex-rebels who had previously given up the armed struggle, declared war on the country's burgeoning paramilitary gangs. Human rights groups accuse cattle ranchers of backing the paramilitaries.
Defence Minister PERSON said he believed DATE's attack in GPE was in retaliation for approval DATE by ORG of a new law to strip drug lords of their illict MONEY fortunes.
GPE's major cities, and particularly GPE, was scarred by a drug-fuelled campaign of bombings, assassinations and kidnappings in DATE as the late cocaine kingpin ORG waged war on the state in a successful bid to force ORG to ban the extradition of NORP to GPE.",0
"ORG set the scene for record profits on DATE, telling investors that its DATE performance was expected to be in line with market expectations.
Analysts are forecasting a leap in pre-tax profit for DATE to MONEY (MONEY) from MONEY in DATE when NORP unveils results on DATE.
With a strong set of results already factored into the share price, NORP stock settled back MONEY to MONEY in early trading.
Bumper pharmaceutical sales will help to drive profits forward, with DATE sales volumes likely to be ahead by PERCENT year-on-year.
Sales of the group's biggest-selling product, cardiovascular drug PRODUCT, are tipped to rise at a similar rate to DATE's PERCENT growth, despite increased competition from rival ORGamp; Co MRK.L 's ORG.
Established prostate cancer treatment PERSON also ""continued to grow strongly,"" PERSON said, while a decline in sales of its ageing breast cancer product ORG slowed.
In a DATE trading statement, NORP highlighted the performance of new drugs, with sales of prostate treatment Casodex and ORG back-up ORG beating expectations. The recent launch of a novel tablet asthma drug PERSON in the GPE has ""gone well,"" the group said.
Sales of agro-chemicals DATE ""were close"" to the PERCENT rise reported at the DATE stage, with record sales of herbicides and of the insecticide WORK_OF_ART.
Operating profits at the slimmed-down specialities business were likely to be above DATE levels after ""a particularly strong DATE performance,"" PERSON said.
DATE results will be affected by a CARDINAL reorganisation charge on speciality disposals, signalled at the DATE stage, while reorganisation of the seeds joint venture should cost NORP around 20 million pounds.
($MONEY Pound)","Lawyers battling cigarette companies on behalf of flight attendants exposed for DATE to ORDINAL-hand smoke on DATE began notifying potential claimants of a historic tobacco trial set to begin in DATE.
A mass mailing to CARDINAL former and current flight attendants on GPE airlines seeks to identify non-smokers who suffer ailments such as lung cancer.  
Print advertisements in union and trade magazines, an Internet site and follow-up mailings seeking claimaints are to follow during DATE.
The class-action suit claims that the illnesses were caused by ORDINAL-hand smoke from cigarettes aboard airliners and seeks unspecificed damages likely to total MONEY.
It accuses ORG Cos Inc and other leading 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 has gotten to notificiation,"" he said, referring to actions taken in the tobacco industry.
A separate 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, were also scheduled to go to trial DATE.
""This is a significant stage,"" said ORG professor PERSON.  
PRODUCT attendants lawyer PERSON of GPE said CARDINAL to CARDINAL flight attendants would likely be included in the suit out of CARDINAL who worked for GPE airlines before in-flight smoking was banned.
The suit alleges that ORDINAL-hand smoke causes cardiac conditions, cancer and CARDINAL other ailments. PERSON and PERSON said scientific findings had established links between those ailments and ORDINAL-hand smoke that were 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 completion of the DATE trial, which he estimated would run DATE in GPE. Categories of claims, such as those of people suffering with emphysma, 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.
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.
((-- GPE newsroom, CARDINAL-374-5013))",0
"The skyscrapers are decked with fairy lights. Red-cloaked PRODUCT pat children on the head. Christmas carols ring out. It is DATE in GPE's last major colony, but will it ever be like this again?
The most spectacular DATE light displays in the world are strung from GPE skyscrapers, featuring giant illuminated ORG and reindeer covering entire facades, beaming a rainbow of colours along the famed GPE harbour skyline.
GPE -- shopping paradise of the world -- is awash with DATE. Its glass and marble malls brim with exorbitant festive displays, its shops push the fanciest, most expensive brand names in the world, specially repackaged for DATE.
But after GPE pulls out and NORP-ruled china takes over DATE, what then?
Will Christmas turkey, DATE pudding and DATE cake be allowed to grace the yuletide dinner table? Even if it does, will it taste the same?
Will revellers pull DATE crackers and drink themselves silly in merriment as many do today?
Will GPE allow bourgeois extravagance and Western customs? Will charities run their ""EVENT"" fundraising drive for the disadvantaged and underprivileged? Will Christians be free to worship at Midnight Mass?
If GPE lives up to its promises, the answer to all these questions is a resounding ""yes"".
GPE has promised to allow GPE to retain its freewheeling capitalist system for DATE, as a quasi-autonomous part of the motherland under a ""CARDINAL country CARDINAL systems"" policy. This means freedom of religion will stay. And the hybrid cocktail of customs and traditions, too.
However, many of GPE CARDINAL people worried that pro-democracy protests such as a DATE vigil and the mass dispatch of ORDINAL cards to mainland dissidents by human rights groups on DATE might not be allowed again.
It is also doubtful if Queen PERSON's DATE broadcast will ever again be on GPE public radio and television.""
DATE is still going to be DATE in GPE, as is the other main NORP festival, Easter.
Only the PERSON's official birthday and EVENT victory holidays are to be removed after GPE takes over.
And, in this overwhelmingly ethnic NORP territory, there are more NORP than ever, despite the gradual departure of expatriate colonial civil servants and company executives.
There are CARDINAL NORP, CARDINAL NORP and CARDINAL NORP, enough to keep a few Christmas parties going. The largest foreign group, CARDINAL NORP, mostly brought in as servants, are also a strong NORP community.
Nevertheless, there are misgivings how much will remain the same in GPE. And there's a whiff of melancholy and pre-nostalgia among expatriates this festive season.
It's almost like a ""last supper"", their minds tilted towards DATE, the moment when the NORP flag will be furled away here forever.
GPE Governor PERSON DATE ""WORK_OF_ART"", which will be aired on local radio, reflects the mood.
His selection starts with PERSON singing ""WORK_OF_ART"", followed by ""WORK_OF_ART"" by PERSON.
Patten gathered his family and friends on TIME, for a traditional dinner of roast turkey.
All assembled were aware it could be the last Christmas dinner in the regal ORG overlooking the harbour.
Patten's successor PERSON, who will be GPE ORDINAL NORP leader, has indicated he doesn't want to live in the mansion that symbolises GPE DATE of NORP colonial rule and DATE of GPE's national shame. He says the residence is cramped and inauspicious.
So no more Christmas there, at least.
GPE DATE as a NORP colony has seen the balance of power tilt into GPE's orbit, even before the change of flag arrives. NORP influence waxed and GPE's waned.
However, just as DATE has become a commercial success in GPE, the festival will inevitably live on -- NORP-style.
GPE NORP vie with each other to lavish expensive presents on their children.
Even over the border in mainland GPE, DATE shopping sprees are catching on. There, ORG has taken to riding a rickshaw, instead of a sleigh.","DATE, shipping magnate PERSON was a retiring man who avoided the limelight, kept his political views secret, and seemed to strike a balance between his loyalties to GPE and GPE.
But he has emerged as GPE ORDINAL post-colonial leader and evolved into a conservative, NORP patriot, loudly singing GPE's tune on key political issues under the bright spotlight of the media.
A CARDINAL-member ORG controlled by GPE on DATE picked GPE as chief executive to govern GPE when it becomes an autonomous region of GPE in DATE.
On the campaign trail, the DATE tycoon with hallmark spiky grey hair had 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 saw his fortunes almost dashed in DATE when the family firm met ill winds, but GPE helped bail him out with a syndicated loan. Now he is their man in GPE.
Tung grabbed a resounding CARDINAL of the committee's CARDINAL votes.
Eve-of-vote polls also showed Tung to be the public's favourite -- PERCENT support versus his nearest rival PERSON PERCENT. The masses, however, had no vote.
Many saw Tung's victory as preordained. A pointed handshake from President PERSON in GPE DATE anointed him, most people think.
During his campaign, PERSON said he would legalise ORG. He 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 in GPE.
He has accused colonial Governor PERSON of trying to split GPE, called for pro-China patriotism in schools, and unveiled administrative policies stressing executive-led rule and a slower route to democracy.
Tung 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.
ORG legislator PERSON: ""I find him more colonial than the colonial government.""
Tung has vowed to give free rein to GPE capitalist economy and business development. But he has also promised not to ignore the need for social welfare.
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 ORG 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 he left the governor's advisory cabinet in DATE.
He resigned in DATE as head of his company, ORG, to make his leadership bid.
Tung took the helm of LOC after his father died in DATE. He has publicly acknowledged that GPE helped bail out the company DATE by backing a MONEY fund led by tycoon PERSON, a kingmaker in the leadership contest.
Born in GPE in DATE, PERSON was educated at ORG in GPE.",1
"ORG is to add a ORDINAL daily flight between GPE and the GPE because of increasing demand, a company spokeswoman has told ORG.
The increase comes DATE after the GPE government announced the successful conclusion of DATE of negotiations with the GPE over a new LAW (ORG).
ORG reached did not reveal how many more flights, and what increase in seat and cargo capacity was negotiated but industry sources said it is around 15 per cent. The Government described the route as CARDINAL of the busiest and fastest growing in LOC.
From DATE, the ORG A340 flight will leave GPE at TIME local time and return at CARDINAL AM local , ORG says.
""There is an increasing amount of traffic between GPE and the GPE and this extra flight has very good convenient connectinns with flights out of GPE to ORG GPE,"" a ORG spokeswoman said.
LANGUAGE flag carrier ORG already offers DATE from GPE. - Air Cargo Newsroom Tel+44 171 542-7706 Fax+44 171 542-5017","GPE, Oct 21 (Reuter) ORG said it has successfully handled its ORDINAL load of pigs destined for breeding in GPE.
ORG's in house newspaper said CARDINAL pigs with an estimated value of CARDINAL were recently flown from GPE to GPE en route for breeding farms in GPE. It said the CARDINAL pallets of swine were housed in CARDINAL and CARDINAL deck boxes specially equipped with automatic watering to keep them cool.
""As the pigs have a higher skin temperature than human beings, they are very afraid of heat. That's why we have to sprinkle water on them from time to time,"" NORP herdsman PERSON told the newspaper.
He said the pigs were valuable breeds including ORG and PERSON which had originated in GPE, the GPE nnd GPE. They are now in the southern NORP city of GPE spending DATE in quarantine before being transported all over GPE for breeding.
PERSON, ORG's cargo standards and performance manager, said it was the largest number of pigs yet flown by the airline.
- Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017",1
"CARDINAL NORP magazines are struggling for survival after being targeted in a crusade by GPE's propaganda tsars to cleanse the media of liberal influences, NORP sources said.
""Focus"" magazine in the southern boomtown of GPE has suspended publication for CARDINAL issues after a GPE newspaper reported the magazine defied propaganda tsars and ran a cover story on the anniversary of the chaotic DATE Cultural Revolution, the sources said.
ORG of ORG had frowned on any commemoration of DATE of turmoil unleashed by revolutionary leader PERSON to purge political rivals and infuse the nation with renewed ideological vigour.
A writer for the magazine said the suspension was due to a GPE newspaper report of the article's publication.
""Had it not been for the foreign report, the magazine would not have suffered this kind of setback,"" said the writers, peaking anonymously ""This was a kind of punishment...by the party.""
In a telephone interview, PERSON, publisher of ORG, disputed this assessment, saying the suspension was linked to unrelated financial trouble.
Other NORP sources said the problems at ""Focus"" stemmed from ORG clampdown on publications and authors who dare to break away from a stultifying diet of state-approved fare.
""If a publication takes a detour (from the party line), it will be suspended for restructuring. There will be no exceptions,"" CARDINAL source quoted propaganda tsars as saying.
Propaganda tsars are also debating the fate of the GPE-based magazine ""WORK_OF_ART"" for publishing a series of book reviews on ORG, sources said.
ORG of the ruling ORG had ordered a gag on all debate on the thoughts of PERSON, an independent thinker who angered GPE before his death during EVENT.
Gu openly opposed totalitarianism and supported the rule of law and civil rights.
The ORDINAL edition of the magazine was published in DATE under the watchful eyes of censors, the sources said.
""We will still be able to publish the ORDINAL edition. After that we don't know,"" a magazine editor, who asked not to be named, said in an interview.
""They did not say what exactly the problem was with the magazine,"" said the editor who suggested that politics could be the cause.
The axe has fallen on other publications, authors and filmmakers.
In DATE, ORG suspended publication of ORG, based in the southwestern province of GPE.
The suspension followed the magazine's publication of an article critical of a privately circulated tract known as the ""CARDINAL-word essay"" that urges a return to class struggle and warns of the erosion of the state sector by private enterprise.
In DATE, Cui Enqing was sacked as president of ORG after the NORP capital's most outspoken newspaper reported a poisoning case that caused a plunge in sales of a state-owned beverage manufacturer.
Propaganda tsars also have banned all of the novels and CARDINAL films of controversial writer PERSON.
The campaign to enforce ideological orthodoxy has left NORP filmmakers at a loss as to what kind of movies would receive the blessings of propaganda tsars. The number of movies made DATE has fallen sharply compared with DATE.","GPE has vowed to curb the influence of Buddhism in GPE, saying religion would have to bow to socialism.
Monks outnumbered students and more money was spent on monasteries than on ORG buildings in the NORP region, the official ORG said in an edition seen in GPE on DATE.
""In the basic interest of the NORP people, further development of temples, monks and nuns cannot be without restrictions,"" the newspaper said.
""Satisfying the basic needs of believers will do.""
There were QUANTITY in the restive region by DATE, with CARDINAL monks and nuns -- exceeding the number of high school students in the region, the newspaper said. It gave no comparative figures.
GPE has shut many temples in GPE in DATE to uproot the influence of the region's spiritual god-king, the Dalai Lama, who fled into exile in GPE in DATE after an abortive uprising against communist rule.
Socialism must take precedence over religion, the newspaper said.
""Religion must adapt to the development needs of socialism and not socialism adapting to the needs of religion. We must remain clear-headed on this principle,"" it said.
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 return the region to feudal rule and split GPE.
GPE says the Dalai Lama is a political activist and not a purely religious figure.
""International NORP forces use the GPE issue to contain GPE's development and (the GPE issue) is an important means to 'PERSON' and 'divide' GPE,"" the newspaper said.
""Some temples are directly or indirectly controlled by the Dalai Lama clique and become the headquarters and venue of separatist forces at home and abroad,"" the newspaper said.
""Since DATE, elements creating disturbances and sabotaging stability have been mainly law-breaking monks and nuns.""
GPE has been rocked by repeated NORP protests that GPE charges are stirred up by supporters of the Dalai Lama.
The newspaper also complained that monks did not contribute to economic growth.
""It goes without saying that such a large number of strong young people relying on alms from the masses and not engaging in productive work has a negative effect on social and economic development,"" the newspaper said.
""Money spent on renovating temples is more than money spent on building or repairing ORG and government buildings,"" it said.
GPE, eager not to antagonise all of the NORP clergy, has pumped MONEY (MONEY) into its DATE renovation of the sprawling FAC, DATE home of the Dalai Lamas for DATE.",1
"GPE stocks ended mixed in thin dealings on DATE, resisting GPE continued sell-off with the help of stronger key gold issues.
ORG key CARDINAL Composite Index rose CARDINAL points to reach CARDINAL in turnover of CARDINAL shares worth MONEY (MONEY).
But declining issues beat out advancing ones CARDINAL to CARDINAL. Another CARDINAL ended flat.
""Stocks didn't do too badly DATE, thanks to strength in the gold sector,"" said ORG's senior vice-president PERSON.
Trading was thin ahead of DATE's GPE fourth quarter Employment Cost Index. DATE, ORG Chairman PERSON expressed concern over rising wages.
GPE's CARDINAL sub-indices were evenly split. The strong side was led by a PERCENT gain in precious metals, followed by consumer products and conglomerates.
Weak groups included transportation, forestry products and financial services.
Golds were among actively traded issues. ORG added CARDINAL to CARDINAL while ORG rose CARDINAL to CARDINAL.
Telecommunications conglomerate ORG, GPE's largest publicly traded firm, slipped CARDINAL to CARDINAL after posting DATE results that were in line with market expectations, traders said.
Beer and entertainment conglomerate ORG rose CARDINAL to CARDINAL. PERSON announced plans to sell a PERCENT stake in retailer ORG for MONEY (MONEY).
Telecommunications firm ORG saw shares dip CARDINAL to CARDINAL despite posting a strong DATE profit of $MONEY a share versus DATE $MONEY.","The chief executive of ORG, a major NORP retailer, aims to boost sales per square foot by CARDINAL over DATE as the discount chain seeks to regain market leadership from GPE invader ORG.
PERSON, a former executive at ORG - which ousted PERSON as GPE's top discount store chain -- told ORG in a recent interview he planned to increase sales from C$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 company's operating profit was halved by the arrival in GPE of GPE, Ark.-based ORG, GPE's biggest retailer.
Zellers' DATE operating profit plunged to MONEY) from 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.",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 capitalization, 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 liberalization 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.","Several GPE computer retailers reported a sluggish start to DATE, with DATE sales showing ongoing weakness and heavy promotions, which may bode poorly for sales of consumer PCs DATE.
But retailers also noted in their DATE reports that the DATE was shorter DATE, because of DATE in the GPE
""Bad would be a better word than sluggish,"" said PERSON, a retail channel analyst at ORG ""Promotional is a code word for lower profits.""  
Circuit City Stores Inc, the largest retailer of brand-name consumer electronics and a leading retailer of personal computers, said that industry sales remained weak.
The GPE, Va.-based company reported an PERCENT increase over total DATE sales, but its comparable store sales fell PERCENT in DATE.
""Industry sales trends remained weak and promotional activity intensified,"" said PERSON, GPE chairman and CEO, in a statement.
Best Buy Co Inc, based in GPE, said that the PC category ""became more promotional in DATE.""  
""DATE sales were well below earlier expectations,"" said PERSON, Best Buy chief financial officer. DATE sales were up PERCENT.
But for the DATE period ending DATE, Best Buy's comparable store sales in DATE fell PERCENT, versus an increase of PERCENT DATE.
""The numbers in general in computer retailing were pretty weak,"" said PERSON, a ORG analyst. He estimates that in the computer category at GPE, for example, DATE sales fell PERCENT. ""Those data points suggest that it's pretty weak out there.""  
""We think that what's happening is there is a big shift to the direct channel,"" ORG added, referring to direct resellers such as ORG and ORG, which sell PCs through phone and mail order.
Analysts said that the big surge in PC sales DATE is expected to come from sales to the corporate sector instead of the typcially money-losing consumer arena. And there are no major innovations DATE driving consumers into the stores for a ""must have"" purchase of a PC.
""The market of ORDINAL-time buyers seems to be shrinking,"" said PERSON of IDC, which is based in GPE, GPE  
""You've already gotten a PC into the homes that can afford a decent quality PC.  The rest of the households say it's either too much or what am I going to do with it,"" PERSON said.
""This is DATE in DATE when there hasn't been a really compelling new reason to buy a PC,"" said PERSON, president of WORK_OF_ART, a market research firm in GPE. ""DATE before you had CD-ROMs, fast modems, the Internet and new ORG chips.""
ORG was lukewarm about the start of the season.  ""Traffic in our stores was very good DATE after DATE,"" CEO PERSON said in a statement.  
ORG's comparable store sales in DATE at its PRODUCT outlets were down PERCENT, GPE was up PERCENT and its Incredible Universe superstore sales were flat.  Total comparable store sales in DATE were down PERCENT from DATE.
But some analysts who follow personal computer hardware makers are not terribly worried by the sluggish retail environment, because they are looking to corporate sales for the bigger profits DATE.  The consumer sector, fraught with price cuts, is still barely profitable for some.  
Even before DATE, industry leader ORG cut prices on its PERSON home PCs by PERCENT. Analysts said ORG cut prices on new PCs.
""I don't think it means a lot,"" said PERSON, a ORG analyst, of the sluggish start to DATE. ""People are in no hurry to buy.""
Neff added that DATE, PC makers are expecting corporate sales to be the driver of PC growth, not consumer sales. ORG has predicted that the PC market will grow at PERCENT worldwide in DATE, which is still strong but is a slower growth rate than the record growth of PERCENT growth in DATE.
""I just view anything that happens in retail as icing on the cake,"" PERSON said.",0
"GPE's main oil union postponed a decision to launch an indefinite strike in protest against the arrest of CARDINAL members on terrorism charges after top-level talks with the government DATE TIME, leaders said.
The CARDINAL-strong ORG union, known for its fiercely nationalistic stance, had been due to set a start date for a crippling stoppage at a general assembly DATE. Industrial action would have begun ""soon after"" DATE's meeting, union head PERSON ndez said DATE.","A former NORP secret agent and his wife were formally charged with abduction on DATE after their bid to smuggle a rebel kidnap victim out of GPE backfired at DATE.
The charges, announced by the chief prosecutor's office, brought another twist to a brewing scandal that has set the NORP government at odds with NORP diplomats and businessmen over clandestine payments to kidnappers.
Police and NORP officials accuse PERSON, DATE, of being an international member of the country's ORG (ELN) guerrilla force, or a mercenary negotiating the release of abducted foreigners in return for a cut of the ransom.
In a statement issued in GPE on DATE, NORP government official PERSON said the government was ""fully informed"" of the former state security agent's mission and welcomed such ""unconventional methods to rescue NORP from life and death situations.""
PERSON and PERSON, DATE, were seized at FAC near GPE early on DATE as they tried to bundle a ORDINAL NORP, PERSON, the wife of a former ORG executive, aboard a private charter plane bound for GPE. PERSON was kidnapped in DATE by the ORG, which had demanded MONEY for her release.
In its press release, the chief prosecutor's office referred to PERSON and his wife as ORG -- one of their many aliases. The couple were remanded in custody.
An executive secretary of ORG said on DATE she had hired the plane that PERSON was to use for his getaway on the orders of a top industrialist formerly based in GPE.
Security experts say GPE -- home to LOC longest-running guerrilla war -- is swarming with foreign mercenaries carrying out shadowy undercover missions as kidnappings reportedly run at CARDINAL every 2-1/2 hours.
""Many multinationals are hiring so-called security advisers for kidnap, terrorist and extortion situations but these are simply mercenaries and adventurers willing to make pacts with kidnappers and guerrillas,"" said private security consultant Col. PERSON.
Parliamentarian PERSON, a retired air force officer, told ORG he was sure CARDINAL of foreign mercenaries like PERSON had poured into GPE to carry out hostage rescue missions.
""Regardless of whether the NORP authorities can or cannot control the (kidnap) situation it is totally unacceptable for foreign companies to fly in mercenaries to do this type of work,"" he said.",1
"ORG on DATE will become the latest maker of high-end, proprietary computers to introduce a line of machines based on personal computer technology.
ORG, which specializes in making transaction-processing computers for banks and stock exchanges, said it will unveil a line of servers based on ORG ORG microprocessors and ORG EVENT networking operating system.
The servers -- which are computers souped up to control the flow of information through a network -- will include some of ORG's technology for handling huge volumes of transactions, the company said. ORG plans to pitch the machines to customers who want to set up shop on the Internet.
The machines are ORG's ORDINAL step to rely less on sales of computers based on its own proprietary software and technology.
Banks, telephone companies and stock exchanges still rely heavily on ORG's so-called fault-tolerant computers for their heavy-duty computing.
But ORG's sales growth has stalled in DATE as its customers have replaced some of its machines with networks of cheaper computers from companies such as ORG and ORG
To strike back, ORG unveiled a strategy DATE that includes making servers based on off-the-shelf technology from ORG and ORG.
Other high-end computer makers, such as ORG and ORG, embarked on similar strategies DATE.
With its new machines, ORG plans to help its existing customers set up networks based on ORG's Windows NT networking software, said PERSON, ORG's vice president of corporate marketing.
""We expect ORG to now be on our customers' vendor list when they're looking at using Windows NT in more business- critical applications,"" ORG said. ""Yes, we do expect to open new accounts, but we expect to still be WORK_OF_ART-class customers.""
ORG said ORG will concentrate on selling the machines as foundations for businesses that want to sell their wares online.
ORG also plans on DATE to unveil a new line of its PERSON servers, a line of proprietary servers for storing and retrieving huge libraries of corporate information.
Rooke declined to discuss the pricing of its new lines.","Insurance group ORG on DATE reported a sharp fall in DATE profits and said it was considering a major acquisition within DATE, possibly in the life sector.
The company blamed tough competition and the worst catastrophe weather claims in the GPE for DATE for the profits decline, while bad weather and continuing subsidence losses in GPE also taking a toll.
But news that ORG may spend MONEY (MONEY) on a life acquisition and disappointment that it had no plans to return capital to shareholders prompted the shares to reverse an initial rise on the back of the results.
The company told industry analysts that a GPE life acquisition was top of the list, that it could comfortably spend MONEY and would be prepared to spend more if necessary.
ORG is not a major player in the GPE life market and on the plus side an acquisition could give it critical mass and economies of scale.
But the possible goodwill write off such an  acquisition could prompt was a concern, analysts said.
""ORG looks very expensive on both an earnings and a dividend basis. The asset value is the only rationale as to why the shares are sitting at current levels,"" said CARDINAL.
""Any large life acquisition would almost certainly result in paying a very substantial premium to asset value.""
The decline in DATE profits was broadly in-line with market expectations. Despite continuing pressures on margins, ORG chief executive PERSON said there were bright spots.
The company had seen some hardening of premiums in selected sectors and regions such as NORP motor insurance and difficult conditions in GPE had not been as severe as some commentators had forecast.
It predicted rates in the motor market could rise by PERCENT over DATE with household rates likely to see smaller increases of the order of PERCENT.
Competition in commercial markets continued to be fierce, though even here there were hopes of an upturn in rates by DATE.
For DATE, however, ORG trading profits were down PERCENT at MONEY, before restructuring costs of MONEY.
Pre-tax profits including investment gains dropped to MONEY from MONEY DATE. Total premium income was down only slightly at MONEY.
While competition had risen and was likely to increase further, ORG said it was confident about the future and that this was reflected in the increase in the dividend payout for DATE by MONEY to MONEY per share.
The figures were broadly in line with market expectations although the headline operating profit was flattered by reserve releases to the tune of QUANTITY and by a profit contribution from the internal reinsurance operation which may not be repeated.
Progress had been made on the integration of DATE acquisition of ORGamp; ORG's commercial business and of the RAC insurance business.
Restructuring of the group's operations in GPE was also moving ahead, the company said.
A new management structure was set up at DATE and cost savings in DATE are expected to equal this DATE's MONEY of exceptional charges.
Those charges are expected to cover all the costs required to complete the restructuring over DATE and while these might include further redundancies, these were unlikely to be of the same order of previous rounds of layoffs. ($ = MONEY)",0
"ORG (RBA) rate cut on DATE is expected to further squeeze bank margins as competition has forced them to pass this cut on to their mortgage customers sooner than usual.
The major banks have previously delayed passing on the effect of official rate cuts to their variable rate home loan customers by DATE.
They would, however, often begin lowering variable and fixed deposit rates immediately, providing a temporary widening of their margins.  
DATE's rate cut has seen the major banks shorten this delay in passing on the rate cut to CARDINAL.
Analysts and some of the banks said increasing competition from non-bank mortgage lenders and the regional banks had been the major factor in this contraction.
They also said they expected this gap to narrow further when further official rate cuts are made DATE.
""The implication is a bit more pressure on margins,"" said ORG banking analyst PERSON.
""This all about competition,"" he said.  
""These competitive forces will end up contracting it down further, possibly down to DATE,"" said PERSON Loans managing director PERSON.
PERSON, the biggest of the non-bank lenders funded by mortgage origination, said on DATE it would cut its variable rate to PERCENT from PERCENT from DATE for existing customers, a gap of DATE after DATE.
At the time of the last official rate cut on DATE, GPE planned a gap of DATE, which was lower than most of the banks.  
In response to GPE and competition from regional banks like ORG, the large banks have cut back this delay.
ORG said it would cut its variable mortgage rate to PERCENT from PERCENT from DATE for existing borrowers, a gap of DATE.
After the last official rate cut NAB's gap was DATE.
In line with this trend, ORG gap has dropped to DATE from DATE and ORG gap has dropped to DATE from DATE.  
The GPE and ORG has yet to announce any cut in variable mortage rates in response to the ORG's cut in the official cash rate to PERCENT from PERCENT.
The biggest move in the gap came from PERSON, which reduced the time it would pass on the rate cut for its major variable rate product to DATE from DATE.
PERSON has even said existing customers of its no frills variable rate product would receive the cut from DATE, DATE away. This product provides PERCENT of its portfolio.  
Overall the average gap for the banks who have cut their mortgage rates has dropped to DATE after this rate cut from CARDINAL after the DATE cut, which was also by CARDINAL basis points.
There may, however,be a limit to how much further this gap can fall, analysts and the banks said.
A new regulatory code on credit specifies customers must be given DATE notice whenever their interest rates are changed, creating an artificial barrier both up and down.
""I think DATE will about see it out,"" said PERSON's PERSON.  
Analysts said the banks may try other tactics to cushion the effect of this reduction in the gap, but that it would still further reduce already-bruised margins.
""It will have an effect on margins,"" said BNP Equities' banking analyst PERSON.
""They'll do all sorts of other things to cushion the effect. They'll be trying to reduce their deposit rates as far and as fast as they can,"" said ORG PERSON.
""But there's obviously a bit of a squeeze there, particularly for those banks most exposed to the housing sector,"" PERSON said.  
ORG is seen as the most exposed with PERCENT of its assets in home loans, with PRODUCT next on PERCENT and NAB and ORG on PERCENT.
The big bank's margins on home loans have already declined DATE from PERCENT in DATE to PERCENT now.
-- ORG CARDINAL-2 9373-1812","Stock-feed producer PERSON forecast on DATE that slow demand and margin pressures would produce a flat DATE profit, but that a grain price slump would help boost profits for DATE.
""All things considered we expect overall company after tax earnings to be in line with those of DATE for DATE,"" Ridley Chairman PERSON told the group's DATE meeting.  
Strong pasture growth in some areas which had significantly cut demand for stockfeed, along with margin pressures from high wheat prices DATE had combined to push NORP stockfood earnings lower in DATE.
DATE earnings from ORG AgriProducts division had been below both budget forecast and DATE results, ORG said.
ORG said GPE expected another good result from its NORP stock food supplier, Feed-rite, to offset the falls from GPE's AgriProducts in DATE.  
""For DATE Feed-Rite's earnings before interest and tax have exceeded by a comfortable margin both budget and DATE,"" PERSON said.
But he said a sharp slump in grain prices, one of GPE's key inputs, could boost margins again in GPE later in DATE if prices stayed down.
""When we look to the full year, we must recognise a very rapid decline in DATE or so in grain prices, and the somewhat unpredicatble impact on both us and our customers of these changes,"" PERSON said.  
""Nevertheless on a full year basis, a cautious approach would be to say that we presently expect to come in slightly ahead of DATE,"" he said.
Ridley said DATE it expected continued profit growth and was optimistic of achieving another record performance in DATE.
It reported an operating profit of MONEY in CARDINAL, up PERCENT on DATE and hard on the heels of DATE of significant profit rises.  
Later, Ridley managing director PERSON reiterated the flat immediate outlook but more buoyant longer term prospects for DATE.
""As we harvest DATE, we're going to see some improvement in margins,"" he said.
Busenshut said PERSON also continued to focus on further acquisitions both in GPE and in LOC, particularly now that its MONEY takeover bid for NORP malster PERSON looked unlikely to succeed.  
The A$MONEY per share offer was rejected by PERSON and GPE has said it would not increase the offer before it closes on DATE. Ridley now has PERCENT of PERSON.
Ridley would continue to look at potential malting acquisitions in GPE and stock-feed milling operations in LOC, NORP said.
He said PERSON had had discussions with potential feed-milling targets in LOC and could carry out an acquisition worth MONEY by DATE if it decided to. Ridley's shares closed up MONEY at A$MONEY.  -- FAC CARDINAL-2 9373-1812",1
"ORG, the GPE carmaker's GPE arm, said on DATE that the NORP sales outlook for DATE looked pretty flat as customers suffered from a ""feeling-not-so-good"" factor.
PERSON, chairman and managing director of ORG GPE, told ORG in an interview at ORG that weak sentiment was the primary reason for sluggish interest among GPE consumers in DATE.
""People were badly bitten by the recession and have become cautious about their own personal balance sheets,"" he said.
He added that it would require an end to consumer worries, like house owners' negative equity, and a cure for the recessionary hangover before the private car market took off.
Industry analysts have said that most of the growth in the GPE car market has been due to companies buying cars, rather than the man on the street snapping up new models.
McAllister said company fleet sales would remain a priority for ORG in DATE but said, ""We will reduce our exposure to the heavily discounted rental market.""
The GPE chief agreed that the slight growth in sales across the wider NORP car market so far in DATE had been distorted by government incentives in countries like GPE to trade in fuel guzzling old cars for new models, as well as heavy discounting by most car makers.
The underlying picture for the NORP car industry has been less promising, he acknowleged, agreeing that excess market capacity in LOC had fuelled downward pressure on margins for players across the board.
-- GPE newsroom +44 CARDINAL 7717","NORP entrepreneur PERSON ORG DATE clinched a NORP rail franchise and said it planned to spend QUANTITY (MONEY) on new trains and increased services.
He won control of the ORG service, which covers CARDINAL stations and is based in the central NORP city of GPE.
The company, with 842 employees and passenger revenues worth MONEY (MONEY) in DATE, is part of the national rail network that is in the process of being privatised.
""Virgin believes that it can be built into one of the prime rail franchises serving several markets... Exciting times are ahead,"" PERSON told a GPE news briefing.
The Virgin empire, which spans everything from its airline, music and financial services to its own-label cola, already has a major rail business.
It is a partner in the GPE and NORP Railways (LCR) consortium which owns the ORG passenger service that links GPE with GPE and GPE through ORG.
PERSON, director of ORG, told ORG, ""Our key plan is to buy a new fleet, spending MONEY (MONEY) on new rolling stock, agreed as part of the bid.""
The order will be placed DATE, with the ORDINAL deliveries due in DATE. Under financial terms, the government subsidy in DATE of the DATE franchise will be MONEY (MONEY).
That subsidy has been cut from the CARDINAL level of MONEY (MONEY) and will average CARDINAL (MONEY) over the life of the franchise term.
Whitehorn said the subsidy will be eroded over the DATE term and in DATE ORG will make a QUANTITY (MONEY) payment to the government.
Sir PERSON, transport secretary said, ""This deal is final proof of the renaissance which is sweeping through GPE's railway industry... Virgin will take a loss-making nationalised company and transform it within DATE into a profitable enterprise.""
Virgin will refurbish the company's HST CARDINAL diesel trains and has pledged to increase train miles by PERCENT between DATE.
The services will be rebranded under the PERSON name and cover destinations across GPE, GPE and GPE.
This is the ORDINAL rail franchise to be awarded to ORG which also bid unsuccessfully for the ORG route.
But Virgin is on the shortlist for LOC rail franchise and has a bid in for the PERSON service in GPE.
Of CARDINAL rail franchises covering passenger services across GPE, the government has sold CARDINAL to the private sector as part of its privatisation of the network.",1
"ORG agreed DATE to buy ORG (HSN) for MONEY in stock, feeding speculation that PERSON was getting set to launch another major television network.
Diller, who is chairman of both ORG and PERSON, could be positioning his companies to compete head on with ORG, ORG, ORG and ORG, whose launch PERSON spearheaded in DATE, industry analysts said.
The deal would reunite ORG, which owns CARDINAL TV stations spun off in DATE by ORG, with its old parent.
Diller, widely known in GPE for leading the launch of ORG, which is owned by PERSON ORG, had already announced plans to drop ORG programming from ORG stations and replace it with a traditional mix of locally oriented news, sports and other shows.
""We have a long agenda,"" ORG said in an interview. ""By putting these companies under a common roof, we will get there quicker.""
ORG said speculation that he would start a new national network was premature but he said cash generated by HSN would help PERSON pay for programming and other costs in developing its stations.
ORG declined to discuss details of ORG programming, saying plans will be unveiled in DATE or DATE. A ORG spokesman said the programming would emphasise local news and sports and would appear in some markets starting in DATE.
Some executives have said PERSON, with stations in GPE, GPE, GPE and other leading markets, would initially target TIME and daytime slots with its own programmes. Start-up networks usually start building their programming with TIME fare.
HSN, which pays fees to ORG to broadcast its retailing shows, will seek to win more slots on cable systems as ORG stations convert to traditional television programming, an ORG spokesman said.
ORG said the stock-swap merger was worth MONEY based on DATE's closing stock prices. The deal calls for each HSN shareholder to receive CARDINAL of a share of ORG common for each share of HSN stock owned.
""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.""
Mirman said he expects ORG to establish another network once he has overhauled the ORG stations, which together comprise the ORDINAL largest TV company in GPE.
Diller is also buying ORG, a money-losing studio that owns other television stations, for MONEY in stock.
Although ORG, based in GPE, GPE, invented television shopping in DATE and was once a favourite on Wall Street, it has fallen to number CARDINAL behind ORG as its sales have stagnated at MONEY DATE.
Still, its TIME programming reaches CARDINAL households via cable television, broadcast station affiliates and satellite dish receivers.
Diller, a highly successful television programmer credited with the PERSON network's racy and successful shows, is also expected to revive ORG fortunes, analysts said.
Under the terms of the deal, each share of HSN Class B stock, which has CARDINAL votes per share and is held solely by ORG, will be converted into CARDINAL of a share of ORG Class B Stock.
ORG said PERSON, in order to stay within rules on television-station ownership, will retain a PERCENT stake in ORG, under PERCENT allowed by regulators. ORG already owns a stake in GPE.
ORG stock rose MONEY to $MONEY on ORG and ORG fell MONEY on ORG.","DATE results at both ORG and ORG will be restrained by the cost of new ventures, and in ORG's case the issue of new shares will lower per share earnings.
But analysts say both have so far escaped the problems which have hit AT&T Corp in the consumer long distance market, and which led to ORG's profit warning in DATE.
""ORG will have increased earnings, but will continue DATE trend of slower long distance volume growth,"" PERSON said PERSON of brokerage ORG.  
ORG's earnings per share are expected to be lower than DATE because of investment in the international PRODUCT venture and in ORG.
ORG's shares in issue will rise to CARDINAL, from CARDINAL DATE, because of stock issued to partners Deutsche PERSON  DTK.CN and French Telecom.
ORG's heavy investment in media, Internet and satellite services with ORG is not expected to break even for DATE.
""The dilutive effects of the ORG ventures will increase year over year,"" PERSON said.  
ORG said on DATE that earnings per share could be PERCENT below analysts' forecasts of $MONEY per share for DATE.  If this fear were realized, it would report earnings of $MONEY, PERCENT below the $MONEY of DATE.
Analysts say ORG's problems were an expensive and flawed consumer market strategy of trying to win customers by offering them $MONEY checks and the competitive effect of small, fast-growing resellers and ""dial around"" services.  
Resellers include companies like ORG, which have produced PERCENT-plus DATE revenue growth by using independent sales representatives to sell to friends, family and associates.
Dial around is so named because customers use a CARDINAL-800 number to access a rival service advertising cut price rates for long distance or international calling, without switching their long distance provider.
The long distance giants do not lose the customer, but notice a fall in average billable revenue.  
ORG expects higher customer turnover in consumer markets because of increased competition. But neither it nor ORG depends as heavily on the consumer market as ORG does.
ORG analyst PERSON said in a research report that demand demand for ORG's services is robust.
""Our forecast minute (of use) growth rate of PERCENT should be almost double the industry average...indicating that ORG continues to take market share,"" PERSON said.
By contrast he expected TIME of use to grow by PERCENT from DATE, and revenue on this to rise PERCENT.
This growth gap of PERCENT would exceed PERCENT of DATE, he said.
Analysts say ORG and ORG are not immune to the threat from dial around and resellers, but in any case the threat will be contained in DATE.
""I think the idea of packages or bundles of services will be very much a threat to the small dial around competition because they won't be able to compete up and down the product chain,"" said PERSON of brokers ORG.  
ORG's adoption of a flat rate MONEY long distance charge should help it regain market share, especially against ORG, which charges a flat MONEY during DATE.
Such is the danger is adopting a clear pricing policy -- when CARDINAL major competitor does it comparisons become easy and can lead to a downward spiral in calling charges.
""Given ORG's brand position in the market place, it is going to remain a formidable competitor,"" said Woodlief. Company   (all in dollars)    Q3 est   yr ago  results date
ORG................0.73.......0.76..Oct CARDINAL
AT&T Corp .................CARDINAL.......CARDINAL..Oct CARDINAL
ORG... CARDINAL.......CARDINAL..Oct 22
Estimates from ORG. Reporting dates from analysts",0
"ORG, the GPE-based drug delivery company listed on the GPE Nasdaq index, said on DATE it expected research and development spending to continue to rise sharply as it targets the key GPE market. The company said earlier that a PERCENT rise in R&D spending to CARDINAL stg helped to push it into the red in DATE.
Ethical, which specialises in controlled oral release and skin patch drugs, posted a pre-tax loss of CARDINAL stg after a profit of CARDINAL DATE.  
The results were also affected by a CARDINAL-off payment of CARDINAL stg for the repurchase of product rights from ORG
In a telephone interview with ORG, chairman and chief executive PERSON said the sharp rise in R&D spending was likely to continue over DATE, ""and probably at a greater rate"".
The company has decided to target the GPE, where it has had a relatively low profile despite its ORG listing.  
This involves taking a number of products, including a once-daily morphine tablet used by cancer patients and a Hormone Replacement Therapy (ORG) skin patch, through late-stage trials.
""We took the view that to get the major markets and royalties of the GPE we have to go back into an investment phase,"" PERSON said.
Ethical, which is based near GPE in GPE, southern GPE, has CARDINAL products on the market. It focuses on CARDINAL core areas -- hormone replacement therapy (ORG), cardiovascular disease, asthma and analgesia. Its technology is useful for producing generic versions of off-patent drugs.  
As well as targeting the GPE, PERSON said the company had consolidated its position in LOC during DATE, acquired a NORP skin patch company and put a foot in the potentially lucrative NORP market through agreements on its morphine and cardiovascular drugs.
PERSON said PERSON had strong hopes for its once-daily pain-killing morphine tablet, which offers advantages over current drugs which have to be taken twice a day.
He said the ORG product is DATE behind its main competitor and estimated the global market for morphine tablets at $MONEY to MONEY a year ""and still growing"".  
Ethical has also applied for a GPE licence for an ORG skin patch which it claims will eliminate DATE bleeding caused by existing treatments in some women.
PERSON +44 CARDINAL 7717","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.
""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.
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.""",0
"Days and TIME of intense talks on ways to liberalise global trade brought ministers to the brink of agreement on DATE although the stormy issue of labour rights cast a shadow on a final deal.
Despite sleepless nights and DATE of intense negotiations, ORG (ORG) Director-General PERSON was buoyant at the inaugural Ministerial Conference of the DATE watchdog body.
""I am very encouraged. The sense of achievement is very clear,"" he told ORG as he emerged at the CARDINAL-way stage of the gathering from the latest of several sessions aimed at finalising a declaration for the ministers to sign.
""The road is open to something important, something big,"" declared PERSON, whose horizon has been set on the GPE meeting since he took up DATE just after the body was launched.
""We are deep in negotiation, and I do not want to prejudice anything,"" he said. ""But there have been some very interesting proposals to get over some of the differences. People are ready for compromise to reach agreement.""
Haggling in GPE focuses on a multi-billion dollar Information Technology Agreement (ORG) and wording of the last few contentious clauses in a final declaration to try to include the concerns of all of the organisation's CARDINAL members.
The document is intended as a blueprint consolidating agreements already reached in the DATE Uruguay Round of world trade talks -- in areas ranging from goods tariffs and services to farm produce and textiles.
It will also set the course and the tone for discussions between now and DATE on topics not yet fully under the ORG purview such as basic telecommunications, financial and maritime services, and many others.
The big battle has been over whether to include a reference to core labour standards in the document and whether it should include provision for some discussion in the ORG on investment rules, competition policies and the way national authorities award contracts -- or government procurement.
Several countries, mostly NORP, are resisting what they see as a U.S.-driven push to get labour rights on to the ORG agenda and to use the organisation's disputes court to erode the developing world's low-cost labour edge.
When asked if GPE would permit a ORG study on labour rights, ORG Minister PERSON told reporters: ""No, no, no way. There is no place for labour issues at the ORG.""
GPE, backed by GPE, GPE and ORG (ORG), has been pressing hard for inclusion of the issue in the final text.
Delegates say GPE has insisted the issue be included if it is to back the declaration when the conference ends.
GPE, digging in its heels, says the labour issue involves human rights, eliminating developing world sweat shops, child and forced labour and other forms of worker abuse.
Faster progress was expected on ORG, with delegates scrambling for an accord to free trade in the MONEY market for computers, software chips and other high-technology products by DATE.
Negotiators from the Big Four powers, GPE, GPE, ORG and GPE haggled in meetings on the sidelines to try to settle differences as early as late on DATE on such touchy questions as what products would be covered and the extent of tariff reductions.
""There is not an agreement yet,"" ORG Commissioner Sir PERSON said after meeting Acting GPE Trade Representative PERSON.
""There is agreement on many points. There are some outstanding ones. We are trying to resolve those.""
A NORP government source told ORG earlier that gaps still remained among the Big Four powers, particularly over which products to include.
""We are continuing to work with our GPE (Big Four) partners and with many other delegates to find a formula that will succeed,"" a GPE official told reporters.
GPE hopes that in addition to a broad infotech pact by as many countries as possible, the ORG will endorse the ORG deal in its ORG on DATE.
That would allow ORG members unable to sign on now to do so at a later date by presenting revised tariff schedules at the ORG in GPE, the GPE official said.","ORG NORP unit, ORG., on DATE launched sales of its new sedan, the GPE, hoping to kill off jokes about NORP-era quality, and pull the company into profit.
Officials said the new model, built on a common ORG platform designed for the DATE PERSON and upgraded PERSON, would expand GPE's market penetration by putting the company's ORDINAL ORG mid-sized car in showrooms worldwide.
""Our strategic markets are in central and eastern LOC, western LOC, and we are present in some NORP markets. We expect to sell Octavias successfully in all of our CARDINAL markets,"" marketing director PERSON told ORG.
The new sedan received a heroe's welcome at showrooms around the capital GPE on DATE as crowds gathered to watch dealers mount the GPE on viewing pedastals.
Exports of the front-grilled GPE -- a major step away from the boxy sub-compacts which made the NORP-era GPE the butt of automotive jokes worldwide --  to LOC and beyond DATE or in DATE.
The car will be available on the domestic market with a choice of CARDINAL petrol and CARDINAL diesel engines, with the top-of-the-line ORG automatic model priced at CARDINAL crowns, and a base model priced at CARDINAL crowns.
""In the NORP market its more or less toward a luxury- class car by the nature the purchasing power and the nature of the car market itself,"" PERSON said.
""In western europe it is a medium sized car that will belong to the middle class market, and in asian marekts I thinik it will be toward the luxury class,"" he added.
Skoda will make CARDINAL Octavias in DATE at its new purpose-built plant in ORG north of GPE, and raise production to CARDINAL in DATE.
Skoda Chairman PERSON said DATE he expected CARDINAL Octavias to be sold DATE on the home market, with the rest exported to LOC and points LOC.
""I think customers who would be looking for a used car would look at a Skoda Octavia, I think that people who own a smaller car would look at GPE,"" PERSON said.
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",0
"GPE would consider some form of peaceful nuclear cooperation with GPE even before a previously signed accord is fully implemented, GPE Secretary of ORG PERSON said on DATE.
""As we move forward on nuclear non-proliferation, the GPE is prepared to consider, as consistent with GPE laws, further steps in the area of peaceful nuclear cooperation even in advance of our full implementation of the DATE agreement,"" PERSON told a news conference in GPE.
PERSON did not specify what types of cooperation might go ahead before implementation of the agreement or give any timetable.
""If they (the NORP) are making progress towards putting the DATE agreement into effect, we are prepared to consider other things,"" PERSON said.
PERSON also said the CARDINAL sides had agreed to establish a regular dialogue on arms control and non-proliferation issues.
""I made clear our strong concern about (GPE's) nuclear cooperation with GPE,"" PERSON said.
GPE pledged in DATE not to provide assistance to any unsafeguarded nuclear facilities.
GPE has held up the full implementation of the DATE agreement on peaceful nuclear cooperation because of concerns over GPE's nuclear sales, although the CARDINAL sides have recently begun talks aimed at allowing the accord to proceed.
Before the DATE agreement can be implemented, the GPE president has to certify to ORG that GPE is not transferring nuclear technology to countries that have nuclear facilities without safeguards.
GPE is eager to buy MONEY worth of nuclear power reactors from GPE firms.
PERSON arrived on DATE for a DATE visit that included meetings with NORP President PERSON and Premier PERSON.
ORG spokesman PERSON later told reporters the NORP-U.S. agreement on peaceful use of nuclear technology was signed DATE.
""We believe it is high time to put this agreement in practice,"" Cui told reporters.
He said if the GPE moved ahead with providing nuclear technology to GPE, GPE companies would benefit.
""The GPE market is very big,"" PERSON said.
Asked to comment on the agreement on proliferation, PERSON said: ""All I can say is the CARDINAL sides will meet DATE and hold a dialogue... to discuss comprehensive issues about global security and non-proliferation.""","ORG, CARDINAL of GPE's major conglomerates, is focusing its domestic operations on the financial sector where it hopes to see PERCENT of its profits, a top executive said.
""We are making money in the financial sector though manufacturing is having a hard time now,"" said PERSON, group executive director.
""We see finance contributing PERCENT of our domestic net profit in the near term,"" he said in a recent interview.
PERSON chose his words carefully, saying that the finance business would be used ""to serve the conglomerate's commercial and industrial operations"".
But company officials said that ORG had been disappointed, with some of its early industrial investments -- such as in the machinery and garment sectors -- and it would like to remould itself as a financial services company.
CITIC reported profit of MONEY (MONEY) DATE, up from MONEY in DATE.
Most of ORG's income is from its huge GPE arm, which includes listed ORG
But for the group's domestic operations, ORG is the main contributor, accounting for net profits of MONEY DATE, up PERCENT over DATE.
Profits from the bank were likely to climb PERCENT DATE, despite the impact on interest income from CARDINAL cuts in interest rates DATE, PERSON said.
""We have a good base of corporate clients,"" said PERSON.
He added that this gave the bank a reliable source of low-cost call-money deposits from major companies.
PERSON said the bank had also been able to hold the line on bad debts -- a key problem for many of GPE's banks -- though no figure was given.
""We are a bit more conservative than some of the other banks so we've had fewer bad loans,"" he said.
The group expected to earn MONEY DATE from its securities operations, though commodities trading would be break-even at best, the executive said.
CITIC still has diversified domestic interests ranging from power projects and telecommunications to automotive production and real estate.
Finance probably acounts for PERCENT of domestic profits at the moment, largely because of poor results from several industrial investments while other more promising projects are still in their early stages.
But PERSON said reforms that had created so-called joint stock companies probably would spur the company's development in the financial sector, as more companies would seek loans on commercial terms rather than rely on state funding.
PERSON also said the company wanted to expand its financial operations to include property insurance. It was seeking to form a joint venture with other domestic partners though this project still required regulatory approval.",1
"GPE civil aviation department statistics show cargo handled in DATE totalled by region rose by MONEY compared with DATE.
Air cargo imports on both scheduled and non scheduled flights reached QUANTITY and QUANTITY for exports.
Regional figures (rounded) in tonnes are shown in the table below.
		    AUGUST 1996 - ALL FLIGHTS
			    Unloaded    Loaded	Pct change
							    from Aug CARDINAL
 LOC			CARDINAL	   CARDINAL	CARDINAL
 Asia - others	   CARDINAL	 CARDINAL	12.0
 Australasia	     CARDINAL	 CARDINAL	-6.1
 Continental LOC    8,850	 CARDINAL	 1.6
 GPE		     CARDINAL	12,197	 CARDINAL
 Mainland GPE	  CARDINAL	 CARDINAL	 CARDINAL
 Middle East		 700	 CARDINAL	 CARDINAL
 SE Asia		  CARDINAL	CARDINAL	 PERCENT		CARDINAL	    65     -21.2
 GPE		    CARDINAL	 CARDINAL	27.0
 GPE			  CARDINAL	CARDINAL
 ORG		CARDINAL	16,176	 CARDINAL
 Total		    CARDINAL	CARDINAL	 CARDINAL
- Air Cargo Newsroom Tel+44 171 542 7706 Fax+44 171 542 5017","Investment bankers ORG forecast ""phenomenal"" long term growth prospects for ORG and said management is ""finally getting serious"" about cargo.
In a recent CARDINAL page equity research report, its GPE based author PERSON recommended traders buy NORP shares below CARDINAL baht because of the carrier's good prospects.
""Thai has phenomenal long term growth prospects resulting from a strong local economy,"" the report said.
In an analysis of GPE's strengthens it noted its global alliances with ORG and ORG and its regional competitive advantage because it is closer to NORP markets and the stability of the baht currency.
""A robust NORP economy should support strong passenger and cargo traffic growth. We assume NORP's improved service and price competitiveness will support higher load factors,"" ORG told ORG.
In his report's ORG, ORG says economic growth on the whole should remain robust but warns of lower yields.
""This should continue to provide an ongoing platform for solid growth in passenger and cargo traffic. At an operating level, the airline is likely to suffer from further yield declines in both passenger and freight operations. However, through DATE, management should be able to ensure costs fall as fast, or faster, than the corresponding yield decline - largely due to the lower operating costs of the new aircraft fleet,"" the report said.
It also highlights opportunities for growth in lower operating costs through cargo.
""Thai has only really started to focus on growing its cargo business over DATE, (over DATE, freight revenue tonne kilometres (ORG's) have grown at only 11 per cent per annum) which is on the low side compared with other regional competitors. ORG has improved its freight load factors from MONEY in DATE to MONEY in DATE, although cargo still represents CARDINAL per cent of total revenue. Volume increases have been at the expense of yield declines. The recent announcement of a joint lease with ORG indicates management is finally getting serious about this market,"" says the report.
Earlier on DATE ORG approved a proposal to allow ORG to take a PERCENT stake in a new cargo company. -- PRODUCT Tel+44 171 542 7706 Fax+44 44 171 542 5017,JG 2987 7212",1
"NORP power producer ORG a.s. on DATE said its DATE net profit hit MONEY crowns (MONEY), up from CARDINAL for DATE, according to international accounting standards, after household electricity demand surged.
ORG's Director of Planning and Analysis section Petr Voboril told a news conference that higher depreciation write-offs due to the opening of new installations cut the company's tax obligations, and boosting its bottom line.
The company's gross profit for the period remained flat at CARDINAL.
NORP accounting put the firm's profit for DATE at MONEY, up from MONEY DATE.
ORG said the result did not change the firm's profit forecast under NORP standards for DATE, which is MONEY crowns, equal to DATE.
A financial statement showed ORG wrote off MONEY in DATE compared with CARDINAL in DATE, and paid CARDINAL in income tax after CARDINAL DATE.
""Above all, lowering of tax obligations in connection with depriciation policy have influenced this (profit) increase,"" PERSON said.
He said that overall demand for electricity rose by PERCENT in the period, and is expected to reach a record high of CARDINAL terrawatthours, PERCENT up DATE, for DATE.
Household consumption drove the increase, rising PERCENT, while large clients demanded PERCENT more power over the same period of the last year.
Voboril said that a recent ruling by ORG on maximum prices ORG can charge regional power distributors did not effect results thanks to the sales increase.
The ministry decided that the maximum average price ORG can charge for supplies DATE is CARDINAL crowns per megawatthour, up CARDINAL crowns from DATE but below the firm's CARDINAL crown expectation included in business plan.
Voboril said that short-term indebtedness of ORG increased as well as financial expenditures due to unpaid debts from some of the CARDINAL regional distributors, which totalled CARDINAL crowns as of DATE.
ORG and CARDINAL of the country's CARDINAL regional grid operators had been locked in a price dispute with ORG until the ministry ruling DATE.
ORG is also considering an international bond issue DATE as it needs financing but has already flooded the domestic market with paper, PERSON said.
Local analysts welcomed the results but said they did not expect them to help ORG's share price much as ORG is plagued by a lack of confidence.
""The ORG results are slightly better than I expected. ORG is fundamentally undervalued but genereal market sentiment is not very strong,"" said PERSON of Zivnostenska Banka. ""I don't expect the price to go CARDINAL in DATE.""
ORG shares closed up CARDINAL crowns on ORG on DATE to close at CARDINAL. -- GPE PRODUCT, CARDINAL-2-2423-0003
($MONEY NORP PRODUCT)","ORG (CNB) Governor PERSON said on DATE that there was no need to hurry the of the state's stake in the country's largest commercial bank, PERSON a.s..
He said when the time comes to sell the stake of PERCENT it could be offered 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 consensus on what to do with the stake.
""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 ORG 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
"ORG Chairman PERSON apologised to shareholders DATE for the ""difficult situations"" that the company faced over DATE.
Andreas, like other ORG officials who spoke at the meeting, used mostly euphemisms when referring to ORG's guilty pleas to CARDINAL counts of pricing-fixing and an agreement to pay MONEY in fines to the GPE government.
""I acknowledge to you that this occurred on my watch as chairman of your company,"" Andreas told shareholders at the DATE meeting here. ""You have my apology and my commitment that things are arranged so that this will never happen again.""
A proposal requiring the board be composed of a majority of independent directors was defeated, but received PERCENT of the votes cast.
Other shareholder proposals addressing corporate governance issues did not pass. ORG's slate of CARDINAL directors was approved by PERCENT of the votes cast, the company announced.
The new board, which was reduced in number from CARDINAL, was hailed by ORG as a more independent body since GPE is the only company executive remaining on the board.
PERSON of ORG said he hoped PERCENT of the votes cast in favour of the outside director measure would send a signal to ORG about shareholder concerns regarding the independence of the board.
""I think it's a positive number,"" ORG told reporters after the meeting. The GPE trust fund and ORG (Calpers) co-sponsored the independent board proposal.
In a statement released following the meeting, PERSON, chairman of the ORG, said ""Calpers will continue to meet with directors and pursue the wishes of shareholders that want a majority of indpependent directors and increased oversight of the ORG board.""
During the meeting, no mention was made of a pending ORG investigation of PERSON, vice chairman and son of PERSON, and PERSON, a group vice president in charge of corn refining.
These CARDINAL executives are eligible for stock options under an incentive plan that was approved by stockholders DATE, the company said in response to a question.
The antitrust investigation sparked criticism from some large shareholders who questioned the independence of ORG's board of directors and its ability to oversee management.
CARDINAL of the few direct mentions of the antitrust investigation came in response to a question from PERSON of ORG, an institutional shareholder.
PERSON asked why ORG had not notified shareholders officially of its guilty pleas to CARDINAL counts of price fixing and the MONEY plea. PERSON, corporate secretary and general counsel, said the company did not consider it necessary given the amount of publicity the antitrust settlement received.
ORG board member PERSON, former Prime Minister of GPE, told shareholders the ""consensual resolution"" with ORG was reached after negotiations with the board's special committee of independent directors.
""This has been a terribly unfortunate experience for the company and we as a committee deeply deplore it,"" PERSON said.
""It is our intention to ensure that the company learns from mistakes in the past and acts so that they never happen again,"" PERSON said.
He referred to the investigation of ORG as a ""shadow"" that was cast on the future of the company.
""While some matters still await resolution, I am pleased to tell you DATE that we have begun to cast off that shadow and move the company forward into the future...,"" PERSON said.","ORG MONEY agreement with ORG will likely have minimal financial impact on the agribusiness giant, which has MONEY on hand.
""This is not going to affect their balance sheet in any meaningful way,"" said ORG analyst PERSON.
But the settlement leaves unclear for the moment the fate of CARDINAL top ORG executives, who had been expected to face indictments in a nearly DATE antitrust investigation into lysine, citric acid and high fructose corn syrup.  
ORG had said in a proxy statement in advance of its DATE annual meeeting that indictments in the lysine probe were being considered against the company, PERSON, vice chairman, and PERSON, a group vice president in charge of corn refining.
A government source, however, said the investigation is ""ongoing.""
ADM did not return a phone call requesting comment on the status of possible indictments against the executives. ORG declined comment.  
""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. Sims is not involved in the ORG antitrust case.
While the MONEY in fines is a record for ORG in an antitrust case, analysts said ORG has MONEY in cash, cash equivalents and short-term and marketable securities. The company has another MONEY in long-term marketable securities.
ORG agreed to pay MONEY to settle antitrust charges for lysine and MONEY for citric acid.  
Beyond those CARDINAL products, the settlement also puts an end to ORG's antitrust probe of high fructose corn syrup, a widely used sweetener. ORG did not pay any fines for this product, which posed the largest potential liability given the size of that market.
Previously, ORG settled civil cases brought by its customers and agreed to pay MONEY for lysine, a feed additive, and MONEY for citric acid, which is used in food and beverages.
A civil case brought by a class of high fructose corn syrup customers is pending.  
""The important news here is just that the criminal investigation is behind them,"" WORK_OF_ART analyst PERSON said.
The fate of PERSON, son of Chairman PERSON, is not expected to impact succession at the GPE, Ill.-based company.
ORG analyst PERSON said analysts have ruled PERSON out for the chairman's post since he has been expected to face price-fixing charges.
In an interview in DATE, however, PERSON said he believed there were CARDINAL people who could possibly succeed him DATE, including his son. He said at the time there was no current succession plan at ORG.
The stock market reacted positively to the settlement, sending ORG's stock up CARDINAL to a new DATE high of CARDINAL. ORG's stock has also been bolstered in DATE by lower corn prices that have improved its grain-processing margins.
ORG Chicago PERSON",1
"Drugs giant ORG bought PERCENT of its NORP joint venture ORG for MONEY (MONEY) on DATE in its quest for growth in the world's ORDINAL biggest market.
Analysts in GPE said they had long expected the buy-out of NORP partner PERSON, which will also get a MONEY (CARDINAL) payout in lieu of the DATE dividend.
ORG develops, produces and markets prescription medicines across GPE and has net assets of MONEY (MONEY), as valued on DATE. Its post-tax profit for DATE was MONEY.
After setting up a series of NORP joint ventures since DATE, ORG has moved to take them over in a bid to carve a share in GPE's lucrative marketplace, ORDINAL only to the GPE in terms of profitability and sales to the group.
PERCENT of ORG profits stem from GPE, which represents PERCENT of the world market itself.
CARDINAL GPE-based pharmaceuticals analyst said: ""The deal will be slightly earnings enhancing as it's financed by debt and NORP interest rates are low at PERCENT.""
The move to take over ventures in GPE would allow the group to accelerate growth plans by launching new products there, including its new respiratory treatments for asthma and the new herpes treatment ORG which replaces PERSON.
Another analyst agreed that GPE offered a notable expansion opportunity, saying: ""It's obviously one of the leading growth markets for ORG.""
But shares in ORG showed little response, falling a modest MONEY to CARDINAL in GPE.
Under the deal, PERSON, president of ORG, and PERSON, vice-president and general manager, will give up these positions but remain members of ORG board, ORG said.
ORG had net assets at DATE of MONEY, or MONEY. Its profits after tax for DATE were MONEY.
($MONEY Pound)
($MONEY Yen)","PERSON, the Do-It-Yourself retailer hit by accounting discrepencies dating back DATE, told ORG on DATE it planned another CARDINAL-off charge against DATE results of CARDINAL stg.
The charge will relate to restructuring and the costs of the investigation into the accounting problems revealed in DATE. Finance director PERSON told ORG in an interview: ""Taking the CARDINAL together, the cost won't be MONEY, but CARDINAL."" He also said that under plans for a rights issue CARDINAL stg would be ""a good starting point.""  
The charge cited by the finance chief will be in addition to charges announced by the chairman PERSON earlier on DATE.
PERSON had said there would be a CARDINAL stg write-off against shareholder funds to cover the profit overstatements for DATE, due to misleading accounting.
There is also a separate CARDINAL stg charge relating to property interests.
ORG said it planned to explore all avenues to boost its finances before going to shareholders, with a CARDINAL cash call seen as possible.  
Details of the refinancing are due in DATE, said ORG, when it will reveal more about how it plans to turn the group round to profitability by DATE.
Hoskins described the current level of gearing as ""pretty horrid."" Net debt has averaged at CARDINAL in DATE.
Talking about the timetable for change, he said ""Hopefully the plans will be approved in DATE and the share relisting will be in DATE.""
Shares are currently suspended, frozen at MONEY.
The company aims to cut costs and ""establish a proper cost base"" to make its accounting transparent in the future.
Hoskins concluded that the company wanted to make a clean break from its past troubles. ""We want to make a clear distinction between the past and the future. It is essential that we draw a line in the sand and where we have to face up to our responsibilities we will.""
The chairman told ORG ""We're in negotiations with all our suppliers and we hope our negotiations will be concluded by DATE.""
He added that DATE would start with a clean slate, with no more charges expected.
-- GPE PRODUCT +44 CARDINAL 7717",1
"Chips stocks, especially those of PC-related manufacturers, posted across-the-board gains DATE after the release of a DATE industry report showing robust demand in the NORP semiconductor market.
Also showing strength in early trading were stocks of companies that make programmable logic devices, including ORG and ORG  
""I think most of the upside is still coming from the PC industry,"" said PERSON, a ORG chip analyst. ""I dont think this is information for an industry turnaround.""
The upswing in the industry ratio of chip bookings to orders rose to CARDINAL in DATE from CARDINAL in DATE, while expected to a degree, surprised analysts by its extent.
The report was largely a sign of general industry health, as the ratio offers little insight into specific segments.
Still, it lifted commodity chipmakers, which had stumbled badly recently, including ORG, up CARDINAL to CARDINAL and ORG, up CARDINAL to CARDINAL.  
PERSON giant and industry flagship ORG rose CARDINAL to CARDINAL, while PC graphics suppliers ORG and ORG swelled CARDINAL to CARDINAL and ORG gained CARDINAL to CARDINAL.
""The magnitude of the improvement was a surprise, but Wall Street has been expecting an improvement,"" said PERSON, semiconductor analysts at ORGamp; Co.
Among ORG's favorites are market niche players such as ORG, up DATE DATE to CARDINAL, ORG, which nudged up CARDINAL to CARDINAL and PERSON, up CARDINAL to CARDINAL.
She also cited ORG and ORG, which she considers to have relative upside potential based on the shellacking their stocks have taken in DATE.
Vallipuram recommends ORG and PERSON, which makes PC interconnection devices. He also favors NORP and GPE, both up CARDINAL to CARDINAL and CARDINAL, respectively.
Reflecting broad sector strength, the ORG Index .SOXX of CARDINAL leading chip stocks gained CARDINAL points in early trading. At DATE EST/1539 ORG, the index stood at CARDINAL, up PERCENT on DATE with CARDINAL stocks posting gains, CARDINAL losing ground and CARDINAL unchanged.
-- Wall Street bureau, CARDINAL-859-1736","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.  
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.  
In an industry known for its love of jargon, computer business insiders speak with a mix of reverential awe about ""the Channel"" - short for distribution channel and the delivery mechanism that has make-or-break control over the future of any computer product.
Ingram is to ""the Channel"" what ORG is to software, ORG is to microprocessors and GPE is to networking.",1
"ORG, the world's largest online service, DATE reported DATE net loss of MONEY due to its widely-expected restructuring charges to change its accounting practices.
The GPE, Va.-based company said its loss, of $MONEY a share, in DATE, included a write-off of MONEY in marketing costs it had originally planned to defer for DATE.
The company announced its write-off plans DATE when it also unveiled a flat-rate pricing plan of $MONEY a month, and a corporate realignment into CARDINAL business units. Wall Street has largely applauded the changes in its accounting, because some investors said the practice inflated earnings.
ORG also said its total revenues jumped PERCENT in DATE, including a boost from advertisers and electronic commerce. Revenues climbed to MONEY from MONEY DATE.
ORG said its other revenues, from sources such as advertising and electronic commerce, rose to a record of MONEY, PERCENT above DATE levels.
ORG said CARDINAL advertisers have committed to spend MONEY or DATE, as it moves to seek more revenues beyond its base subscriber fees, which still make up the lion's share of its revenues.
Before the big accounting charge, ORG said it earned MONEY, or MONEY a share, exactly in line with the mean estimate on ORG, which compiles analysts' estimates.
Revenues fell slightly short of some expectations because of the DATE outage of its service in DATE, analysts said.
PERSON, an analyst with ORG, estimates the almost TIME outage on DATE cost ORG MONEY in lost revenues and to pay subscriber credits.
However, ORG said its customer retention rate improved as DATE progressed, reaching its best levels in DATE since DATE. Customer churn rate, or the drop-off in new customers, has been an issue at ORG, particularly DATE when subscriber growth slowed.
ORG also said it saw strong subscriber growth following the DATE launch of its new marketing campaigns. It added CARDINAL new subscribers in DATE.
With the addition of CARDINAL new members in DATE, ORG said its total subscriber count reached CARDINAL worldwide. Analysts said CARDINAL of those subscribers were from its online service in GPE, GPE and GPE.
ORG also said average TIME usage improved to TIME per member in DATE, and in DATE, hit its highest level in the company's history.
""In the spring we indicated that member growth would slow in DATE, but would likely pick back up in the fall as we rolled out our CARDINAL software and increased our marketing expenditures,"" said ORG CEO PERSON, in a statement. ""We're pleased to report that growth has indeed accelerated, and now....we believe we are poised for continued strong growth.""
DATE, ORG said it would write off MONEY in DATE to account for the balance of its hefty subscriber acquisition costs, such as its mass mailing of floppy disks. It had been deferring certain marketing costs and amortizing some costs over a period of DATE.
Analysts said they are now waiting to see how the new flat-rate pricing policy will effect the company's profit margins, which are expected to decline from the plan. The heavier users of ORG will now simply pay an all-you-can-eat rate of $MONEY instead of the heavier bills they incurred.
Th company acknowledged in a statement that its new pricing plan will result in lower-margins but that it is also expecting benefits from new revenue sources in the future, as it seeks to generate new higher-growth revenue streams.
""These are all issues that will clear up over time,"" said PERSON, a ORGamp; Co. analyst. ""Clearly the response to the new pricing plan has been very positive,"" PERSON added, referring to the positive feedback ORG has received from customers. Analysts said ORG still expects to lose money in DATE, which will be the ORDINAL period that the company expenses its DATE marketing costs.
ORG's stock fell MONEY to $MONEY on ORG.","NORP aviation executives said on DATE they feared renewed turbulence with GPE over airline market access in GPE, with flagcarrier ORG caught up in a looming ""air war"".
The GPE government wants GPE to sign a bilateral treaty which would grant more landing rights to NORP airlines, while GPE seeks a gradual market liberalisation.
A spokeswoman for the GPE embassy in GPE told ORG the GPE authorities had not rejected the new winter schedule for state-owned ORG.
""However, ORG has requested increased services over DATE,"" she said.
""ORG has extended the deadline to rule on ORG request until DATE, thereby giving our government time to discuss the schedule with the NORP authorities.""
That delay on approving ORG schedule was seen as a strongarm measure to force GPE into agreeing a new aviation treaty.
""It's like placing a dagger at our throat,"" an aviation executive said. ORG DATE schedule was due to enter service on DATE.
ORG has requested an extra flight to GPE, CARDINAL to GPE and CARDINAL to GPE DATE, compared to the DATE schedule. It wants to add extra cargo capacity from DATE to GPE and GPE.
A ORDINAL NORP executive said if GPE took unilateral measures, GPE would not hesitate to retaliate against GPE airlines, as it did in DATE when ORG Secretary PERSON rejected ORG DATE schedule.
GPE cut landing rights of CARDINAL GPE airlines before the junior transport ministers of both countries, meeting in GPE, agreed to open talks aimed at reaching a treaty to replace one which expired in DATE.
Without such a treaty, each route and landing rights have to be negotiated on a case-by-case basis, whereas GPE would like a global, market-driven solution.
Separately, GPE is withholding approval of a planned alliance between ORG and ORG until GPE agrees an ""open skies"" treaty with GPE.",0
"ORG, widely credited with the most aggressive cost-cutting program of all GPE oil companies, is not resting on its laurels.
The GPE, GPE-based oil giant told analysts on DATE that it has implemented MONEY of cost savings so far DATE as part of a MONEY plan and expects the remaining MONEY to fall into place soon.
Furthermore, ORG also expects to save at least another MONEY on an annualized basis by DATE by streamlining purchases of everything from raw materials to computers.  
ORG discussed cost-savings details after it posted a PERCENT decline in DATE operating income due to a host of unfavorable conditions, including weak refining and marketing profits. A company spokesman confirmed the figures.
Industry analysts dismissed the earnings drop, saying ORG's stock price had already reflected the poor industry fundamentals. Instead, Wall Street appeared more intrigued with the company's future cost-cutting plans.
""They have done an excellent job and I think they are determined to maintain the cost cutting,"" said PERSON of ORGamp; ORG  
Some investors already have expressed concern about ORG's ability to keep up its aggressive pace.
""People are wondering if they have squeezed everything out of the cost structure that they can and if their magic touch is over,"" said ORG analyst PERSON, who upgraded ORG to a buy rating from outperform on DATE.
Chairman PERSON sought to allay any concerns.
""Since we are in a very competitive industry that has significant price volatility, changes in the way we run our business are essential if we are to compete in the long term,"" Noto said in a news release about the company's earnings.  
Although ORG is not expected to announce a major restructuring plan anytime soon, future savings are anticipated from purchasing and technology.
""Everybody has cut a lot of the fat and even some of the muscle,"" said PERSON, analyst at energy consulting firm PERSON
And ORG is likely to soon start reaping benefits of its joint venture with ORG that calls for the merger of their downstream  operations in LOC.
The success of the joint venture will likely impact ORG's plans for future savings as other firms also pursue similar pacts. ORG, ORG and Star Enterprise are now exploring joining downstream operations. Star is a venture of ORG and GPE state oil firm.
If other companies pursue such ventures and the ORG pact is successful, analysts said ORG eventually may seek a downstream partner in other parts of the world.
""I think the easy part of the cost cutting and restructuring has been announced. The key is going to be to remain on top of it,"" PERSON said.","ORG, reporting a PERCENT rise in DATE profits, on DATE ruled out a demerger of its tobacco business despite conceding that GPE tobacco litigation was the main issue affecting its share price.
Chief executive PERSON said the company did not see value in demerging the group into separate tobacco and financial services companies.
A strategy review showed ""there was no value we could see that would be generated from a demerger,"" he told ORG.
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.
Worldwide cigarette sales rose by PERCENT, although volumes were lower in GPE, a market where total industry sales were flat, the company said.
The growing pace of litigation claims against the company's GPE cigarette subsidiary ORGamp; PERSON (B&W), 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 below MONEY, shedding MONEY from the company's stockmarket value along the way.
Broughton said a demerger of ORGamp; PERSON would be ""highly destructive"" of shareholder value, adding there was ""no question"" that the board of directors was united on the issue.
He also played down fears over GPE litigation. Only a few cases actually get to court although many are filed, and the company was confident of winning its appeal in the high-profile PERSON case, PERSON told a meeting of company analysts.
In the case of PERSON, of GPE, GPE, a jury in GPE ruled in DATE that B&W was negligent and made a dangerous and defective product. PERSON smoked for DATE until he was diagnosed with lung cancer.
ORG shares have fallen sharply since the GPE court decided to award damages of $MONEY to PERSON.
PERSON, who acted for PERSON in the GPE case, had promised to bring CARDINAL case DATE, but CARDINAL have been postponed until DATE and CARDINAL dismissed, ORG said.
ORG was also confident of blocking ORG attempts to bring tobacco regulation into line with drugs and pharmaceuticals, said GPE.
If the ORG proposals become law, cigarettes will be classified as ""medical devices"" and would have to meet rigorous safety and sales criteria.
Responding to a recent paper in ORG which claims a direct link between smoking and lung cancer at cell level, ORG said ORG had no internal research which proved smoking caused lung cancer or that smoking was addictive.
""We have not concealed, we do not conceal and we will never conceal,"" he said. There was still a lack of understanding of the mechanisms of diseases attributed to smoking, he added.
Turning to the business results, ORG said the PERCENT rise in tobacco trading profit to MONEY was helped by strong sales growth in LOC and the NORP, LOC and NORP subcontinent regions.
In financial servies, ORG said its GPE unit ORG continued to have DATE. In GPE, the ORG insurance division faced fiercely competitive conditions and profits fell to MONEY from CARDINAL.
It also suffered a MONEY charge for a surge in asbestos and pollution claims in GPE.
The life insurance and investment business reported a PERCENT increase in profit.
Shares in the company initially rose after the results, but later fell back to close at MONEY, down CARDINAL-1/2p. ($MONEY Pound)",0
"Shares in NORP brewing and sports firm Molson Cos. Ltd. sank on DATE after its ORG unit lost the rights to brew PRODUCT, GPE's top-selling light beer, in a dispute with ORG..
Investors pounded PERSON's stock after an arbitration panel ruled DATE that PERSON reliquished its right to brew and sell ORG products in DATE when ORG acquired a stake in the NORP brewer.
PERSON class A stock closed down C$MONEY at C$MONEY on ORG after earlier sinking to C$MONEY, just shy of its DATE low.
""It was a pretty severe ruling and I think it surprised PERSON, surprised ORG and, frankly, surprised the street,"" said PERSON, an analyst with ORG, ORG
The panel said PERSON breached its licensing agreement with ORG by allowing ORG, a unit of ORG. Inc., to buy a PERCENT stake without ORG' consent.
PERSON is also owned PERCENT each by PERSON and GPE's ORG..
The panel ordered PERSON to pay ORG all the profits it earned from selling ORG beer since DATE, an amount that has yet to be determined.
ORG brands produced by PERSON -- Coors Light and Original Coors -- account for PERCENT of its sales volume. PRODUCT is the dominant light beer in GPE, commanding a CARDINAL to PERCENT share of the beer market.
Analysts said PERSON can ill afford to lose a profitable brand as it battles rival ORG in a domestic beer market that has been flat for DATE.
""You start losing volume and it has a significant impact on your profits. It's very important to PERSON to negotiate a deal with ORG,"" said Palmer.
While PERSON officials said they are willing to negotiate a new licensing agreement, ORG was keeping its options open.
""What we need to do is go through the panel's ruling and understand all of the aspects of the ruling and then analyze what our options are,"" said ORG spokesman PERSON.
He declined to outline ORG' options for the NORP market. But analysts speculated that ORG could cut a richer deal with PERSON, ship product directly to GPE or buy a local brewer to produce ORG in GPE.
""The easiest option is to negotiate a deal with PERSON. They've had a big win here so it's time to kiss and make up,"" said Palmer.
If there is a new deal, ORG will likely seek more control over its brands and higher royalties from PERSON, said PERSON, PERSON's vice-president of corporate affairs.
If PERSON cannot negotiate a new licensing agreement, ORG said the brewer would consider its options, including launching a new light brand.","GPE's big CARDINAL banks, which have long ruled the country's street corners with their vast branch networks, face a challenge to their dominance by the Internet and the rise of new ""virtual banks.""
Telephone and computer banking, debit cards and automated teller machines (ATMs) are rapidly transforming GPE's old-style bricks-and-mortar banking system.
New technology has eliminated the need for costly branch networks and lured offshore rivals to jump into GPE's MONEY consumer banking market.
""Virtual banks have the potential to send our branch networks the way of the passenger train -- much loved, but seldom used,"" said ORG chairman PERSON in a speech to GPE's business community.
BIG BANKS PREPARE TO MEET THE CHALLENGE
The big banks, which dominate regular banking, trust and brokerages in GPE, are marshalling their forces against this cyber-onslaught.
ORG, ORG, ORG, ORG, ORG and ORG are spending MONEY to develop new distribution channels and upgrade branches.
ING Groep N.V., with MONEY in assets, is by far the biggest electronic challenger. The NORP financial services giant dwarfs ORG, the country's biggest financial institution with assets of MONEY.
ING, already a player in GPE's insurance market, plans to offer a wide range of electronic banking services through a new subsidiary, ORG of GPE, based in GPE.
ING is keeping a low profile until its application for a trust licence is approved, but bank officials are confident of success where others have failed.
In DATE, several foreign banks abandoned GPE because of its restrictive banking laws and stiffer than expected competition from the big domestic banks.
""It would be fair to say that we will be competing on several fronts. It won't be hard to offer better service,"" said PERSON, vice-president of marketing for ORG's NORP operations.
ING WILL DRAW ORGHe said ING will draw on its extensive experience in electronic banking in LOC.
Analysts have said ING can use GPE to fine tune its virtual bank before offering similar services in the larger GPE market. But PERSON said there are no plans yet to take ING's virtual bank south of the border.
""To say we're definitely going to the GPE would be wrong. To say that we would look at it and see if there is a market opportunity, yes, of course we would,"" he said.
Also eyeing GPE's consumer banking market is ORG, a unit of GPE giant ORG, which is joining with NORP fund manager ORG, to create a virtual trust company.
The venture is ORG's ORDINAL foray into NORP consumer banking after abandoning a bid to establish a traditional branch system in DATE.
PERSON, country manager of ORG's consumer banking operations in GPE, said the joint venture gives the bank access to ORG's customer base. ORG plans to offer customers a full-service banking package, including credit cards, access to ORG service and telephone banking.
""We're not locked into the costs of a bricks-and-mortar structure. So we can serve them through technology and that enables us to price ourselves very competitively,"" he said.
The ORG/AGF venture could set a pattern for other foreign banks seeking to enter GPE with an established customer base, ORG said.
BIG BANKS UNDER PRESSURE FROM LOCAL RIVALS
The Big Six banks are pressured by local rivals as well.
DATE, ORG, the country's biggest credit union with MONEY in assets, applied to open a nationwide branchless bank DATE.
While cyber competitors are poised to invade the retail market, GPE's major banks are also on the move.
The banks spent MONEY on new technology in DATE and that is expected to reach MONEY by DATE, according to a report by accounting firm ORGamp; PERSON.
Much of the money is being poured into alternative delivery channels such as point-of-sale credit and debit cards, ATMs, telephone and computer banking.
Cards account for CARDINAL of all payment transactions in GPE, up from PERCENT DATE.
Telephone and computer transactions are climbing as well. Traditional bank transactions are seen falling to PERCENT in DATE from PERCENT DATE.
Among NORP banks, ORG is the top player in telephone banking with CARDINAL subscribers. Bank officials expect PERCENT of their CARDINAL customers to be using alternative channels in DATE.
DATE, ORG joined CARDINAL other NORP banks to set up a computer banking network with computer giant ORG in DATE.
All the banks are struggling to decide the future of their branch networks, but ORG has taken the ORDINAL steps to overhaul its CARDINAL branches.
In a recent pilot project, CIBC employed greeters to guide customers to ATMs for their basic banking needs. Bank tellers were retrained to advise customers on such products as mutual funds, loans and mortgages.
Billing it as the bank branch of the future, ORG said transaction costs had fallen dramatically, while customer lineups were much thinner.
But by using these low-cost channels, customers will expect a break on service fees, which many consumers complain are too high, ORGamp; PERSON said.
ORG has taken the acquisition route to boost its Internet services. It recently bought a PERCENT stake in iSTAR Internet Inc., an Internet solutions firm, to help develop new channels and services for the bank.",1
"ORG, GPE's largest life insurance group, reported a healthy rise in profits on DATE and said it expected NORP operations to continue to perform strongly in DATE.
But the company remained tight-lipped 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 might 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.""
Analysts believe the Pru is looking to free up MONEY (MONEY) of the 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. Reflecting the DATE performance and the group's confidence for the future, the dividend was raised by PERCENT to MONEY per share.
Pru shares gave a muted response to the figures, adding MONEY to MONEY by TIME.
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 insurance business increased PERCENT to MONEY and operating profits for the NORP savings and investment business was 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)","GPE and GPE clashed over the future of GPE on DATE as the colonial power took steps to bring in a pre-emptive new law on subversion ahead of the capitalist territory's DATE return to communist-ruled GPE.
The quarrel was ignited when the government on DATE laid down legal markers defining the concepts of treason, sedition, subversion and secession in a bid to head off NORP-style jailings of dissidents after GPE takes over the colony.
The draft bill would jail only people who plot the violent overthrow of government, not non-violent critics and dissidents.
NORP officials in GPE immediately attacked the move and GPE politicians said the law would probably be erased and replaced after GPE resumes sovereignty at DATE, when DATE of colonial rule expires.
A senior negotiator on the GPE handover, PERSON, told reporters GPE should not have acted unilaterally, but declined to say if GPE would repeal the bill if it became law.
A spokesman for GPE's de facto embassy in the territory attacked the move more sharply. ""GPE violated its promise that all major issues must be decided through negotiations with GPE in the latter stage of transition,"" the spokesman said.
""GPE will have to take responsibility for all the consequences of amending this law,"" the spokesman said.
NORP officials said they were confident the bill could get through ORG (Legco) DATE. But some pro-China politicians and analysts were sceptical.
""The move itself is bound to be futile. Even if the bill is passed by the present ORG, I don't think there is any chance that it can survive the handover,"" said PERSON, leader of the biggest pro-Beijing political party in the territory.
""This decision will not be useful because the NORP side will eventually roll back all the reforms undertaken by the GPE government before DATE,"" said analyst PERSON at ORG.
""The GPE government is trying to commit suicide by putting this legislation through GPE,"" PERSON said.
He said GPE would want a broader definition of subversion that would include subversion in non-violent forms.
GPE had previously said it opposed any major changes to GPE criminal law before the change of flag.
Governor PERSON, often vilified by NORP officials, said the government had taken the step only after DATE of efforts to clinch agreement with GPE had failed.
He challenged GPE to say exactly what it objected to in the proposed new bill.
""We've tried to establish in a very reasonable way what these crimes should actually mean,"" PERSON told GPE radio during a visit to GPE. ""On this particular issue we really have been negotiating...with a brick wall,"" he said.
""There's been no response, no give at all,"" he said, adding that the only alternative to the bill would have been to break the government's word to PERSON and the community that it would take action on the issue and ensure GPE ""decent way of life"" would not be ""swept away"" DATE.
Independent pro-democracy legislator Emily PERSON said she hoped GPE would not repeal the law, adding that if it did, ""that will definitely cause instability in GPE, and it will be a very high price for both GPE and GPE to pay.""
Treason and sedition are already on GPE law books.
The last time somebody was prosecuted for sedition was in DATE, and for treason in DATE. But These offences have since largely fallen.
Subversion and secession however are new concepts in the law required by GPE in GPE DATE constitution, known as LAW.",0
"GPE will set up a panel on DATE to tackle the after-effects of the nation's problem loans -- collection of bad loans in the form of land collateral, government sources said on DATE.
The panel will discuss wide-ranging steps to increase liquidity in the real estate market to facilitate collection of such problem loans, a government source said.
""The central issue for the panel will be studying measures to collect problem loans in the form of land collateral run up by (failed) 'jusen' mortgage firms,""  he said.
""We think securitisation of the problem loans is CARDINAL effective measure to collect problem loans,"" he also said.
Officials from the ministries of finance, construction and justice and ORG will join the panel, along with officials from ORG of GPE, a semi-governmental body set up to protect depositors from bank failures.
ORG (ORG), in charge of recovering the problem loans of failed mortgage firms, known as ""jusen"", and ORG (ORG), which will perform a similar task for troubled credit unions, will also send officials to join the panel.
Officials are now finally aware they must take steps to stimulate the real estate market from a budgetary standpoint, said PERSON, analyst at ORG.
HLAC was set up in DATE to recover the problem loans of CARDINAL failed mortgage firms over DATE. But the government says further losses may arise and that CARDINAL of any future losses will be covered by public money.
In DATE, the government adopted a controversial scheme that allows for the use of MONEY (MONEY) in taxpayers' money to help wind up the failed mortgage firms.
The government has also committed itself to meeting any potential shortfalls at ORG with government funds.
The bank was established DATE to manage the holdings of failed credit unions and collect their problem loans. The government has given the bank a DATE period to bail out credit unions and aims to disband the bank thereafter.
Some analysts said, however, that it would be tough for the ministries to agree on steps to boost the sagging real estate market, now in a DATE slump following the bursting of DATE ""bubble economy"" of inflated asset prices.
For instance, GPE may have to allocate budget funds for public utilisation of assets put up as collateral for problem loans, analysts said. The government should also adopt a flexible taxation system to help securitise problem loans backed by real estate, they said.
Securitising the loans involves selling property to a new special-purpose company, which in turn will issue bonds backed by these assets to procure money. Investors in the bonds would profits from any rise in land prices and from rent income.
The number of investors in GPE is still limited due to fears of further drops in land prices, and financial institutions themselves are reluctant to sell collateralised land at the currently cheap market prices, analysts said.
But PERSON, an analyst at ORG, said the setting up of a panel to discuss this dilemma is an important ORDINAL step. ""It is better than nothing.""
Securitisation worked well in GPE when ORG tried to recover bad debts following the savings and loan crisis of DATE. (MONEY)","LOC will suffer only minor damage from an anticipated shake-out in GPE's banking sector, analysts said on DATE.
""That's not a very healthy market and it's not a reflection on any of the others,"" said PERSON, banking analyst with ORG in GPE.
But some countries could take some precautionary steps to prevent the same thing happening within their borders, another analyst said.
The NORP government's public acknowledgement that its banks and finance companies are grappling with a huge liquidity problem caused by bad debts, many linked to a besieged property sector, prompted tough new provisioning rules on DATE.
The country's central bank, ORG, ordered banks and finance companies to raise provisions for sub-standard loans and asked CARDINAL cash-strapped finance firms to boost capital.
Many analysts said on DATE they now expected to see a wave of consolidation sweep through GPE's financial services sector.
For example, GPE needed CARDINAL finance companies rather than the CARDINAL that currently exist, CARDINAL analyst said.
""People are going to look at GPE and say 'we don't want that happening here',"" said a banking analyst.
GPE and the GPE could follow GPE's lead and restrict property lending rules to avoid GPE's experience, he said.
""They'll try to control property bubbles, which is what GPE did DATE,"" he added.
Most analysts said it was too early to identify obvious candidates in GPE for merger or takeover apart from the list of CARDINAL finance firms ordered to raise capital immediately.
But foreign banks with stakes in some of the companies already affected by the shake-out would feel some immediate pain, she said.
CARDINAL example was ORG, which owns part of ORG.
ORG announced a merger with ORG over DATE. Finance One is GPE's largest finance company.
Another analyst said that although it was too soon to identify obvious targets, some of LOC's biggest banks would soon start cherry-picking their way through the debris in GPE, looking for possible takeover targets.
ORG, ORG and ORG were considered likely buyers, although foreign restrictions could be a disincentive. Foreigners are restricted to holding PERCENT of banks or finance companies, effectively preventing them from gaining control.
""I think they'll be under pressure to admit foreign banks to take control of bigger slices of NORP banks and especially NORP finance candidates,"" the analyst said.
But GPE was in a relatively good position to confront these problems, with the economy forecast to grow PERCENT DATE, he said.
""Unlike GPE, they don't have economic contraction,"" he said. ""My guess is if they shift their seat they can get out of it fairly quickly. They're not going to persist for DATE like the banking problem in GPE.""
-- GPE bureau (CARDINAL) 2843 6470",0
"ORG (BT) on DATE played down top level talks with NORP telecoms giant ORG and ORG but analysts refused to rule out that the companies were hatching a deal.
Since the talks were announced on DATE, speculation has swept the market that ORG, which along with its NORP partner ORG has been openly courting ORG, might be on the brink of a link-up.
But a ORG spokesman told ORG: ""That meeting was of no particular significance. We have regular contacts at that level and will continue to do so with ORG and others.""
While ORG is playing its cards close to its chest, some analysts speculated that the company, keen to get a foothold in the lucrative NORP telecoms markets via the world's biggest telecoms player, might hammer out a deal with ORG quite soon.
""I think that they are quite close to it,"" said PERSON, telecoms analyst at brokers SocGen PERSON. But he added: ""That is just instinct.""
CARDINAL analyst even said he had made a bet with a colleague that a deal would be signed or announced before DATE. But others were split.
""You would expect in DATE something to happen,"" said PERSON, analyst at ORG, adding: ""If it happened DATE, we'd be all pleasantly surprised.""
Another said he thought an imminent ""memorandum of understanding"" between the CARDINAL companies was quite possible. But he added: ""But in terms of any tangible, real tie-up, I would put it later in DATE.""
But analysts agree on CARDINAL things. They dismiss as a ""courtship ritual"" ORG's statement that it might prefer to branch out into the global international market on its own.
They also believe that ORG will want to be calling the shots on any deal.
ORG may even stop short of a straight deal with ORG and ORG's ORG alliance, preferring to link up with CARDINAL global alliance. ""On a selected basis, they may link up with as many as possible,"" said CARDINAL analyst.
At present, there are CARDINAL main alliances.
Apart from Concert, PERSON, ORG ORG have formed ORG. The ORDINAL consortium is ORG, a loosely-knit organisation created by GPE telecoms gaint NORP
Members include ORG, a venture of ORG of the GPE, a NORP firm, the NORP service provider, GPE's PERSON and a stack of LOC members such as ORG, GPE's GPE and ORG.
ORG's chief executive Sir PERSON is also travelling to GPE at DATE, part of a regular trip where he is likely to meet ORG executives, ORG says.
BT has had an office in GPE for DATE and already has a minor link with one of ORG's units, ORG, which distributes its ORG services.
It sent its ORDINAL regional director to GPE DATE in a move to highlight the growing importance of the area.","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 ORG -- 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.
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 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 (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, or MONEY 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's PERCENT stake in the highly-profitable ORG.
""It's not ORDINAL best, it's ORDINAL best,"" he told the news conference.
BT 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 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 MONEY per share special dividend.
BT, which will release full year results on DATE, has declared a 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)",1
"ORG, which reported a MONEY loss in LOC DATE, faces a long and difficult job to cut costs and jump-start its product line to deal with a sluggish NORP market and tough competition, analysts said DATE.
ORG executives DATE disclosed that they plan a broad effort to cut costs in LOC, including product costs, material costs, and personnel and plant costs.
""We need to restructure and we need to reduce our costs,"" ORG Vice President of Finance PERSON told reporters.
The cuts will include an early retirement programme that is expected to eliminate CARDINAL jobs in LOC, he said.
The initiatives, to be announced within DATE, follow ORG's actions in DATE to eliminate CARDINAL jobs from its NORP operations.
ORG's MONEY NORP loss compared with a MONEY deficit DATE, and was due partly to product launch costs.
But analysts said there are no quick fixes to ORG's problems in LOC, which include high costs for its smaller cars and the lack of a competitive, high-volume large car.
""I don't think it's something that's corrected in DATE,"" said ORG analyst PERSON. ""We probably have DATE where the news from ORG's NORP operations is not very good.""
The automaker's production and parts suppliers are heavily concentrated in GPE, where costs are high and the company is more susceptible to fluctuations in currency exchange rates. ORG assembly operations and suppliers are spread more evenly throughout LOC, giving the automaker a competitive advantage.
Although DATE is typically the weakest period of DATE because of vacations and model changeovers, ORG's NORP operations earned MONEY during DATE, compared with a DATE loss of MONEY -- a performance analysts attribute to extremely low investment costs and strong product acceptance.
Shifting ORG's supplier base is a long-term task, as is cutting investment costs in new products. The ORDINAL new cars developed under ORG's more efficient ""ORG 2000"" structure are not expected to be on the market for CARDINAL more years, analysts said.
The new ORG Ka minicar, developed for MONEY using off-the-shelf components, is a step in the right direction, but is expected to bring only razor thin profit margins, due to its low price, analysts said.
Unlike in GPE, ORG in LOC cannot count on highly profitable light trucks and sport utility vehicles to make most of its money. It must rely on mostly small cars, including the WORK_OF_ART, PRODUCT and the mid-size Mondeo.
ORG's PRODUCT large car, which was widely panned DATE when it was last redesigned, has performed poorly against the likes of ORG CARDINAL-Series, ORG's PERSON and the ORG.
""They have no money spinner in LOC,"" said ORG auto analyst PERSON.
ORG's ORG, a strong seller, is still handicapped by its initial MONEY development cost, which also included the ORG PRODUCT and ORG in GPE.
Although the ORG received exterior and interior changes for the DATE model year, competition in that segment of the market is much tougher than it was when the car first debuted in DATE.
PERSON's new ORG, ORG PRODUCT and ORG new ORG are expected to draw many buyers away from the ORG.
Making matters worse is the sluggish market. Analysts estimate that automakers have enough capacity to build CARDINAL cars in LOC, but sales DATE will be CARDINAL, forcing deep price cuts.
""What's happening is there's an overcapacity situation in LOC,"" ORG said. ""Everybody's fighting it out for market share and spending a lot of money for marketing incentives.""
He said all NORP automakers, except for ORG, have been struggling through the same problems. DATE, it was ORG that was struggling in LOC and ORG was the top performer.
""I guess things switched,"" McCammon said. ""We had a great position of leadership and we're unhappy that we don't have that any more.""","ORG may face mounting losses as the strike against its NORP operations heads for DATE, but ORG Chairman PERSON DATE vowed not give up his quest for competitiveness.
The last of CARDINAL ORG members are set to strike ORG plants at TIME, bringing the automaker closer to parts shortages and assembly plant shutdowns in GPE.
The strike will inevitably affect ORG's GPE plants, but they can ""run for a while"" before a shutdown, said PERSON, president of ORG's ORG.
But Smith, who met with reporters at ORG's ORG to receive a new ORG award, said some of the union's demands on outsourcing -- the shifting of work to outside, often non-union companies -- are unacceptable.
""We've got certain things that will cripple the company if we don't get fixed right,"" Smith said. ""There's a couple (items) on the table that we need to work our way through, otherwise we will not be competitive.""
He said ORG, the least efficient GPE automaker, needs to sell certain parts plants, despite the ORG's objections, because their wage structures are too high for ORG to compete effectively.
Smith also said ORG was in a strong financial position to handle the strike, with MONEY in cash, and a fully funded pension plan.
Adding to its wherewithal, ORG also on DATE filed a shelf registration statement with ORG that would allow it to sell MONEY in debt securities.
Despite the labor strife, Smith credited both GPE and NORP workers for helping ORG win ORG ORDINAL-ever Chairman's Award, which recognizes its gains in quality and customer satisfaction.
Smith also said ORG continued to have a ""constructive dialogue"" with ORG hoped to reach a labor agreement coviering CARDINAL GPE TIME workers soon.
Although ORG so far has been able to avoid major GPE shutdowns from the NORP strike, analysts said the ORDINAL casualties may be the company's ORG luxury car plant in GPE, GPE, which uses trim components made at a GPE, plant set to go on strike DATE.
ORG's small and mid-size car plants in GPE, GPE, GPE, GPE, and GPE, GPE, also are in danger of shutdowns, because they use transmissions from another GPE plant to be struck DATE.
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,"" said PERSON, an analyst with ORG, an automotive consulting firm in GPE, GPE ""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.",1
"ORG is set to announce a series of deals designed to extend the reach of its systems managment software onto new computer platforms and to strengthen its existing ties to ORG EVENT, analysts said.
They said CA is likely to announce deals that allow its software to run on ORG and ORG computer systems as well.
ORG has scheduled separate press conferences DATE and DATE with ORG, ORG and ORG  
CA officals declined to comment on what may be announced.
But analysts say the announcements will be made at the company's DATE CA World conference that starts DATE in GPE.
PERSON, an industry analyst ORG based in GPE, GPE, said he expected CA and ORG to announce a tighter integration of CA's PRODUCT systems management product with ORG's ORG suite.
The CARDINAL software giants already have a co-marketing pact for CA/Unicenter for Windows NT which was announced in DATE.  
""Where the rubber hits the road with ORG is bundling and co-marketing,"" PERSON said, noting how this relationship distinguishes CA from all but a handful of the CARDINAL of firms developing software to run on Windows.
""This would represent a downward proliferation strategy for CA,"" resulting in far greater use of Computer NORP software at the desktop level of corporate offices, he said.
ORG analyst PERSON speculated that CA and ORG have agreed to a partnership where CA will port its software to ORG's large-scale transaction computers commonly used in banking and telecommunications.  
""The agreement is likely to be strategic, with little in the way of actual technology or products to annouce intially,"" said Philips, who is attending the CA World conference.
It is less evident what the business software firm might be planning with ORG, but CARDINAL analyst predicted the CARDINAL would announce a deal for CA to market ORG's ORG network management software.
ORG, best known as the kingpin of microprocessors, also develops a variety of software, including ORG, the ORDINAL leading set of network managent tools for ORG systems behind ORG own ORG software.  
ORG chairman PERSON is scheduled to deliver a keynote speech DATE TIME that is likely to center on the further integration of CA and ORG software strategies.
Although not nearly so well known as ORG and other brand name PC software makers, ORG is the world's top mainframe software supplier and the ORDINAL largest independent software firm overall after ORG.
The CARDINAL have forged a strategic partnership based their respective market strengths.
CA's expertise in the complicated software used to manage large-scale computer systems complements ORG's dominance of the high-volume corporate desktop software market and helps beef up ORG's suite of ""BackOffice"" software products.
-- PERSON, GPE, CARDINAL-859-1736","ORG new flat-rate pricing plan and moves to meet spiraling subscriber demand suggest it is on track to become a major media player, comparable to broadcast or cable TV networks, analysts said DATE.
Analysts cautioned, however, that underlying this success loomed a real threat that the online network's capacity to serve its CARDINAL subscribers could soon be overwhelmed.
They warned that the additional demand on ORG's network generated by the company's offer of unlimited usage for $MONEY per month imperilled its near-term capacity to handle demand.
If only a small fraction of ORG's CARDINAL of subscribers 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 said.
Clearly, investors are betting the company can surmount such challenges, as ORG has done repeatedly in mushrooming sevenfold from MONEY users DATE.
In DATE, the stock's momentum has revived, doubling from a year-low of $MONEY to reach $MONEY DATE. An TIME sell-off caused the stock to fall back to $MONEY. down $MONEY.
""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 realisation that the more time users spend online, the higher the cost of adding capacity"" requiring new equipment investments, he said.
ORG officials have warned repeatedly that they expect DATE to be transitional ones, both operationally and financially, as the company seeks to gain revenues from advertising and commercial transactions instead of mainly subscriber fees.
But PERSON, an analyst with ORG, said he believed ORG had proven its capacity to weather the pressures of the explosively growing online medium.
In particular, PERSON said ORG has measures in place to limit excessive connection times by users who now have little incentive to disconnect and free up network time for other users.
""Will this demand on its network be enough to destroy the company? I think not,"" said PERSON. ""What the company will do is build out to meet demand and stage a comeback,"" said the analyst.
""Anyone who is writing this company's obituary is going to be disappointed,"" agreed PERSON, an online industry analyst at ORG
ORG said DATE it was greatly expanding its online network and planned to spend MONEY by DATE to double its network capacity and improve service.",1
"GPE said on DATE it was determined not to let GPE's veto kill a worldwide nuclear test ban treaty and vowed to lead a push for a ORG resolution to keep the dream of a global pact alive.
Foreign Minister PERSON said PERSON had launched a campaign at ORG to revive the draft WORK_OF_ART (CTBT), after a disarmament conference failed to agree on a text in the face of NORP opposition.
""What we don't want to do is let the CTBT die,"" PERSON told a news conference during a visit to GPE on DATE. ""An enormous amount of effort has gone into it, there has been a very wide measure of agreement on the text.
""We think the best way to take it forward is for us to ... take a resolution to ORG in support of that text,"" he added.
Government officials in GPE said GPE would lead the charge to win agreement for the treaty and would look for co-sponsors for a ORG resolution to allow it to be opened for signing despite the failure to reach a consensus.
""We will work to achieve the treaty's endorsement during the current session of ORG and its opening for signature at the earliest possible date,"" PERSON said in a statement released in GPE.
The CARDINAL-nation ORG in GPE, which needed a unanimous stance to allow it to approve a draft text, on DATE decided it could not even agree to report its failure to ORG.
GPE, which had demanded nuclear powers commit themselves to move towards total disarmament, was able to block the treaty's progress singlehandedly -- prompting calls for a new way to be found to keep it alive.
Diplomats have said there is little time left for the 51st ORG to open the pact for signature at a ceremony in DATE.
NORP ambassador for disarmament PERSON told ORG in GPE that GPE still believed the treaty could be salvaged after DATE of negotiation and ""DATE of expectations"".
""There is a clear need for friends of the CTBT to consider action so that the whole international community will be able to consider, endorse and sign this valuable treaty,"" PERSON said.
""We would not want to see a treaty text die in a pigeonhole in GPE,"" he said.
GPE, using its standing as a middle-ranking, non-nuclear power, has sought to play a leading role in the campaign to end nuclear testing.
Diplomats in GPE said DATE the CARDINAL declared nuclear powers -- GPE, GPE, GPE, GPE and GPE -- considered GPE best placed to present the draft treaty to the ORG general assembly in the form of a resolution calling for a swift signing ceremony.
Downer said there was still some way to go to ensure the treaty's survival but expressed optimism a resolution would find widespread support.
""This is just the beginning of a process,"" he said. ""I think there will be very strong support for our move.""","Fund manager PERSON row with her ex-employer ORG (ORG) continued to be played out in public on DATE as she admitted that she had been in talks with a rival banking group until DATE before she was suspended.
But PERSON stressed that the talks with NORP firm ORG were of an ""informal and preliminary nature"" and at no time had she provided confidential information about the business or colleagues.
""The talks terminated DATE before I was suspended,"" said PERSON. ""My aim was always to keep the clients and the team together for the benefit of all.""
The benefit of all included ORG whom, she said, she had never intended to leave.
PERSON, CARDINAL of GPE's most prominent fund managers, resigned DATE after being suspended amid allegations she planned to defect to ORG and was soliciting PERSON colleagues to go with her.
The suspension came DATE after she had been promoted to be managing director of ORG and since then her fight to be reinstated or compensated for the loss of her job has rarely been out of the headlines.
Once again the lure of the cameras proved difficult to resist on DATE and in a television interview, PERSON repeated her determination to clear her name.
""When you're faced with the fact that people are saying that you've done something wrong and you know you haven't you have to fight for yourself. It's CARDINAL individual versus a very large bank,"" she said. ""All I have is my reputation and I must defend myself.""
The DATE mother-of-five's battle with ORG has raised eyebrows in the traditionally discreet and conservative banking industry but she maintained she saw no alternative to the action she had taken.
PERSON was catapulted onto the front pages DATE when she turned up on ORG's doorstep with a posse of journalists to confront her former employyers after her resignation.
Later to the surprise of everbody -- including her own lawyers -- she flew to GPE to put her case to officials at ORG's parent company ORG.
ABN AMRO has denied trying to poach PERSON and her team and DATE said they had nothing to add to earlier statements.
PERSON has been in talks with her lawyers for DATE and is considering taking legal action against her former employer for constructive dismissal.
PERSON is holding fast to its line that it will not reinstate PERSON nor offer compensation since she took the decision to resign her position.",0
"NORP Telecommuncations Plc, the telecoms giant, beat even the most optimistic analyst forecasts on DATE with robust DATE profits and insisted it was growing despite ever stiffer competition.
BT, which plans to merge with GPE's ORG to create one of the world's biggest telecoms groups, said profits before tax, redundancy and restructuring charges rose PERCENT in DATE and PERCENT in DATE.
But after a hefty QUANTITY (MONEY) redundancy charge and a QUANTITY charge for the repurchase of government-held bonds, DATE pretax profits came in at MONEY and MONEY in DATE -- slightly below figures for the same periods in DATE.
""The results for DATE show an encouraging position with sustained high growth in demand for our telephony services and significant sales increases in our new markets and advanced products,"" said chairman Sir PERSON.
BT, whose shares jumped MONEY to MONEY in heavy trade, has managed to hang onto its CARDINAL residential customer lines over DATE despite predictions that competition from cable companies would dent its market share.
The group also said its biggest business, inland calls, grew PERCENT to PERCENT in DATE moving average basis after price cuts and marketing initiatives.
""We're growing, we're not going backwards,"" finance director PERSON told ORG in an interview, noting that turnover in DATE rose PERCENT to MONEY.
""I think telecoms is one of the most exciting growth industries in the world...When we open (the markets) up, drop the prices, raise the quality of service and really market hard, the growth levels are double digit.""
BT, which has formed CARDINAL joint ventures worth MONEY to gain access to the NORP markets, said it planned to ""get very aggressive"" in DATE as the continental telecoms markets are opened up to competition, around DATE.
Asked where BT saw the main profit growth, ORG said:
""All prices in GPE and GPE are very high compared with the GPE. If markets open up and we compete, prices will come down. But we will take substantial market share, particularly in the business area where quality of service really matters.""
BT has operations in CARDINAL countries and employs CARDINAL staff worldwide. Since privatisation in DATE, CARDINAL jobs have gone. The firm, which cut another CARDINAL staff in DATE, expects about the same number of voluntary redundancies in the ORDINAL.
As part of its NORP offensive, ORG has won a licence in the GPE, plans to win both fixed and mobile licences in GPE and has bought into a mobile licence in GPE where it also thinks it will win the ORDINAL fixed licence.
Brace said high-speed digital ORG (ORG) lines and overseas operations were growing at CARDINAL per year and that the company had high hopes for its intranet initiative with software giant ORG, where it also sees booming demand.
BT said on DATE that it and ORG, whose proposed merger is the biggest transatlantic deal in history, were linking up with ORG to offer transnational firms private communications networks based on the internet.
Asked whether ORG, which announced its MONEY merger with ORG on DATE, planned similar deals, ORG said few other large communications groups offered the same prospects.
""I'm not sure that there are similar deals as ORG -- because there aren't many companies that size in the world one would wish to merge with.""
As previously announced, ORG is raising its interim dividend by PERCENT to MONEY. As part of the ORG deal, ORG is also paying a special dividend of MONEY which it expects to pay in DATE at the same time as the final dividend.
($MONEY Pound)","NORP property group ORG on DATE announced a PERCENT increase in pretax profits for DATE but said a writedown on a GPE shopping mall had reduced its net asset value (ORG).
ORG's chief executive said he was pleased with the rise in pretax profits to MONEY (MONEY) from MONEY DATE, but admitted disappointment at the fall in ORG to MONEY per share from MONEY.
MEPC shares were DATE lower at CARDINAL-1/2p by DATE ORG as traders said the ORG was below market expectations.
""We feel very confident about the whole of the profit statement. The only slight disappointment is on the ORG side,"" PERSON said in an interview. Earnings per share rose PERCENT to MONEY and the total dividend stayed at MONEY.
ORG said the ORG drop reflected a marginal fall in values both in GPE and elsewhere but it 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 pointed out the valuation date for the portfolio was DATE and there had been activity and evidence of an improved market since then. ""If we redid the valuation for DATE, we would probably get a different answer,"" he said.
The other factor which had brought the ORG down was QUANTITY write-down on the valuation of ORG's Northridge Mall. 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,"" he said.
And he defended ORG's decision to give a target ORG of MONEY per share for DATE.
""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.
ORG 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 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 GPE, with the remainder in 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 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.
($MONEY Pound)",0
"NORP regional banks ORG on DATE unveiled a merger plan to create the nation's ORDINAL largest bank with a market value of MONEY (MONEY).
""We have that golden opportunity, we are not going to miss it,"" St George Bank managing director PERSON told reporters at a joint news conference. This is the ORDINAL merger PERSON has tried with different banks in DATE.
""We are going to build a special new different bank here that will take advantage of all of things that many of us always want to do,"" said ORG, who will head the enlarged group.
ORG shareholders would be offered a combination of A$MONEY in cash, a MONEY special cash dividend and new PERSON shares up to a value of A$MONEY per ORG share.
The total value of the offer was A$MONEY per ORG share, which values it at MONEY. PERSON would fund the offer by a mixture of cash and scrip and a new capital raising.
The friendly merger of the CARDINAL GPE-based banks would create a bank with assets of MONEY and make it one of GPE's top CARDINAL listed companies.
""The NORP banking industry is currently going through a very dramatic stage, we cannot be sure what will come out the other end, but we believe this will allow us to make the most of opportunities that the market change present,"" ORG said.
Advance bank shares soared on the merger announcement. It closed MONEY or PERCENT higher at A$MONEY, a record close. PERSON shares ended MONEY or PERCENT lower at A$MONEY, after hitting a low of A$MONEY during DATE.
NORP banking analysts said that the offer was generous to Advance shareholders because it was well above prices paid in recent local banking takeovers.
Any rival bidders might be scared off entering the fray by a current official inquiry into the banking industry and an agreement, part of the merger deal, for ORG to pay MONEY to PERSON if it is taken over by a ORDINAL party.
""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 has been desperately seeking a friendly merger over DATE to avoid being swallowed up itself.
The stock market viewed GPE's largest banking group, ORG (NAB), as the most likely predator.
NAB holds PERCENT of PERSON although it has said it had no takeover plans for the GPE bank.
However, in DATE it voted against a plan for PERSON to merge with GPE based ORG
NAB declined to comment on DATE's announcement.
PERSON bid for GPE was also was scuttled by the PERSON government, which trumped PERSON offer with a higher bid through its wholly-owned financial services group ORG and ORG (GPE).
DATE, PERSON was also blocked by ORG, CARDINAL of GPE's top banks, in a takeover bid for GPE-based ORG after PRODUCT made a higher offer.
PERSON was also in talks DATE to merge with ORG before ORG took control of the GPE-based bank, and with ORG, which was taken over by ORG in DATE.
A$1 = $MONEY","NORP gold giant ORG on DATE agreed to a deal with GPE (ORG) miner ORG that gives ORG control of the vast PRODUCT 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)",1
"ORG ORG on DATE sought to reassure the public about the safety of ORG following DATE fire which halted most rail services between GPE and GPE.
""There is no doubt the tunnel is at least as safe as other GPE transport systems,"" NORP co-chairman PERSON 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 ever since, although a limited freight service has resumed.
""Safety is our ORDINAL consideration, ahead of commercial considerations,"" NORP co-chairman 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 turnover before the fire was CARDINAL and 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, ORG said.
PERSON's maximum insurance coverage is MONEY for equipment and CARDINAL 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 (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 wagons for extricating passengers.
The train which was destroyed in the fire was worth MONEY and repairs to the tunnel and related equipment would cost CARDINAL. 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 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 cashflow. ORG had MONEY (MONEY) in cash holdings and ""it is not under financial pressure to reopen services"". ($MONEY Pound) ($MONEY French Franc)","America Online Inc, the world's largest online service, said with the changes it implemented DATE and its major restructuring announced DATE, it is seeing a renewed momentum.
PERSON, ORG chairman and CEO, told the company's DATE meeting that with the reoganization of ORG, its new flat-rate pricing, and its big accounting changes, ""the pieces are now in place"" for growth, not only in new subscribers, but with major new sources of revenue, such as advertising.  
""Now we have a new structure in place...and the momentum is stronger than ever,"" Case told shareholders, adding that in DATE alone, ORG added CARDINAL new subscribers, a sign of its ""renewed momentum.""
The company, which has seen its stock decline, has been under pressure from the lower-cost Internet access services and has seen its subscriber growth slow DATE.  
ORG, based in GPE, GPE, was further pressured when ORG relaunched ORG DATE at a flat price of $MONEY for unlimited access, on par with most direct Internet access services.
Previously, ORG had added a CARDINAL pricing plan to combat the growing competition, with TIME for $MONEY a month, in addition to its $MONEY for TIME plan.  But on DATE, it succumbed with its own flat rate $MONEY a month, and it will discontinue its direct Internet access, called ORG.  
Case and other ORG executives highlighted to shareholders how the company will see new sources of revenue from advertising and merchandising and how CARDINAL area of its new business will be running on a cable industry model, with more revenues from advertising than subscriber fees.
""Increasingly, we are evolving where we depend less on subscriber revenue and increasingly on advertising and other sources,"" said PERSON, the company's chief financial officer.  
One of the areas from which the company expects this growth to come is its new unit ORG, headed by former ORG executive PERSON, to oversee ORG's flagship online service.  The other CARDINAL units in ORG's reorganization are its ORG, to create content for its service and ORG, to manage the core network infrastructure.
Pittman said he expects that in the future, PERCENT of ORG's revenues will come from advertising and other revenue sources, such as merchandising the ORG brand name, through books, television, etc.  
""To me, it looks very similar to the cable network business,"" Pittman said, adding that in DATE of ORG ORG network, subscriber revenue was greater than advertising revenue.  ""Our growth curve looks very similar to the cable business.  Ad revenue is growing faster than subsciber revenues.""
Pittman said he plans to ""ride the tremendous wave"" of ORG's brand recognition for new sources of revenue growth, for which he said there are multi-levels of possibilities. CARDINAL area, he mentioned after his ORDINAL day on the job, is the catalog business, which can move to electronic shopping.  
Shareholders, some of whom said the stock has been a very good investment because of its many stock splits, said they were pleased with ORG's recent actions, in particular the measure to restructure accounting methods.
""The fact that they are getting a more straightforward accounting system is a step in the right direction,"" said PERSON, a retired shareholder from the GPE, GPE area. ""Their financial statements were hard to understand. It's more straightforward now.""  PERSON said the stock has split CARDINAL times since he has owned it in DATE.  
ORG said on DATE that it will now expense all its marketing costs, which includes the hefty subscriber acquisition costs, as they are incurred, instead of deferring those costs over time.
To reflect those immediate changes, ORG is taking a MONEY restructuring charge in DATE, to account for the balance of its deferred subscriber acquisition costs.  ORG CFO Leader also told the meeting that the cost to acquire new subscribers will be lower in the future, as ORG depends less on sending out floppy disks, and as ORG comes with more new PCs.
""The good news is the growth is accelerating,"" Case said. ""We have taken the step of expensing the marketing and we can avoid some of the debates about the earnings.""",0
"GPE's ORG could face a multi-MONEY lawsuit over the ownership of its spectacular GPE gold deposit in GPE.
The young GPE-based company said DATE that CARDINAL of its NORP partners, PERSON, threatened it and CARDINAL others with legal action in NORP courts, claiming damages of MONEY.
""I find it curious that PERSON has chosen to threaten a lawsuit in GPE relating to matters that allegedly occurred in GPE,"" PERSON chief executive PERSON said in a statement.
""However, we will sit down with them and listen to what they have to say.""
PERSON owns an undisputed PERCENT of CARDINAL section of the Busang discovery. It claims it owns PERCENT of the entire deposit, but ORG says the NORP company does not have the documentation to back up its claims.
PERSON, which closed down C$MONEY at CARDINAL in heavy trading on ORG, said DATE it had received a letter from its NORP partner demanding a meeting before DATE to resolve the dispute.
If PERSON refuses or does not make an attempt to settle the argument, PERSON will sue, the letter said.
ORG said it has asked its lawyers to arrange a meeting.
""In my opinion, this (threat of a lawsuit) appears to be a last minute act of desperation,"" said gold analyst PERSON of ORG
""My question is, why have they waited so long? And why did they choose to do this in GPE?""
The dispute between ORG and PERSON, who is backed by GPE's FAC, became public at DATE.
The argument prompted the NORP government to delay issuing vital contracts of work until the CARDINAL parties worked out their difficulties.
Without the contracts, ORG cannot proceed with work on Busang and has had to stall its search for a major gold producer to operate or buy the discovery, analysts say.
""The key is how the NORP government will react"" to the lawsuit, said PERSON.
The threat of a lawsuit gives ORG a strong incentive to settle with PERSON and NORP businessman PERSON, who controls PERSON, said gold analyst PERSON of Deacon Capital.
While most analysts said it was too early to tell whether the NORP case would stand up in NORP court, they said the threat of a lawsuit will definitely force ORG to treat the claims more seriously.
""It reinforces the uncertainty with respect to ORG,"" said gold analyst PERSON of Maison Placements.
""My sense is this thing is not going away. This is more of a manoeuvring than an actual threat, but it does not look like this will end any time soon.""
PERSON said in its letter that it will also sue the other NORP partners of ORG, some PERSON officers and GPE's ORG, which has a small stake in the discovery.
Minorca president PERSON said his company has no reason to be involved.
Exploration at Busang has outlined QUANTITY of gold so far, and some analysts predict there could be MONEY.","ORG stock tumbled DATE after ORG eliminated the company from the race to build a new generation fighter jet that eventually could be worth MONEY or more.
The decision was a blow to ORG, the nation's ORDINAL-largest defence contractor and a long-time leader in fighter jets, and could force it to restructure, seek a merger or become more acquisition-minded, industry analysts said.
The ORG on DATE awarded DATE contracts to ORG and ORG to develop prototype fighter jets for DATE for ORG, ORG, ORG and ORG.
NORP and GPE forces have announced plans to buy CARDINAL of the joint strike fighter jets, with initial delivery scheduled for DATE.
With potential export sales of another CARDINAL jets and additional funding for development and support, the programme could be worth MONEY over DATE, industry executives said.
ORG stock lost $MONEY to close at $MONEY on ORG, where it was one of the biggest losers of DATE. ORG rose MONEYMONEY and ORG rose $MONEY to $MONEY, also on the ORG.
PERSON, an analyst at ORG, said the decision could force GPE-based ORG to seek acquisitions more aggressively to help build its business, or into a merger with another defence or aerospace company.
""Everything's back on the table,"" PERSON said.
In DATE, ORG has been the subject of rumoured talks with ORG, ORG and PERSON..
PERSON has declined to comment on potential mergers and acquisitions. ""We have said we will look at mergers, acquisitions and partnerships that will grow our business,"" a company spokesman said.
""This will be something of a wakeup call,"" ORG analyst PERSON said. ""It's a fairly sharp and dramatic blow to ORG and I would venture to guess one they probably didn't see coming.""
ORG's PERSON said, ""Without having the internal growth such as joint strike fighter would give them, they're going to have to grow through acquisition."" That could include ORG defence electronics business, which is for sale, according to published reports.
ORG PERSON said on DATE the loss was a surprise to the company.
""Certainly in terms of the overall future, DATE and beyond, it is a significant programme to us,"" Stonecipher said.
But in a statement to employees DATE, Stonecipher noted the company's backlog of aircraft orders to the military at home and abroad and said it was pursuing other orders. The company has a MONEY order backlog, a spokesman said.
""This decision does not mean we are out of the military aircraft business,"" Stonecipher said.
ORG currently builds the PRODUCT fighter and the ORG-Marine F-18E/F as well as the PRODUCT military cargo plane. Both the PRODUCT and PRODUCT are to be replaced by the joint strike fighter in DATE.
ORG's PERSON said PERSON was likely to participate in the new jet fighter programme as a subcontractor, as politics will force the wealth to be spread.
But despite its key role providing fighter jets for DATE, the based company has failed to win a major role in any of the next generation of tactical aircraft.
Already the smallest of the CARDINAL major commercial jet makers, ORG said DATE it would not continue to compete against ORG and LOC's ORG in the market for the biggest commercial jetliners.",0
"GPE on DATE responded coolly to a request for talks from GPE populist ORG, insisting the party ORDINAL play by GPE's rules.
GPE told the party it had to abide by rules governing the creation of ORG, a CARDINAL-member body which will chose GPE post-handover leader and provisional legislature, replacing the present elected chamber.
""ORG secretariat...welcomes ORG posture and willingness to communicate with us (GPE),"" said a statement from ORG, GPE's de facto embassy in GPE.
ORG is an influential panel of members handpicked by GPE that is overseeing the transfer of sovereignty.
""We hope ORG...can abide by LAW and rules governing the setting up of ORG as laid down by ORG and ORG,"" ORG said. The agency was referring to GPE post-handover constitution, promulgated in DATE.
""At the same time, (this statement) clearly points out that this is the ORDINAL step towards communication between ORG and us and the rest of GPE people,"" ORG said.
The NORP colony reverts to GPE at DATE.
GPE's reply follows a letter from the party in DATE seeking dialogue with GPE after GPE's Foreign Minister PERSON opened the door a crack by suggesting that dissenting views would be permitted on ORG.
ORG on DATE did not mention any time nor venue for talks but GPE's latest move was seen as positive by ORG.
""We welcome it,"" vice-chairman PERSON told reporters on DATE.
ORG long-standing advocacy of democracy has angered GPE which has dubbed its leaders as subversives and pointedly excluded it from ORG.","NORP stocks have shaken off DATE of stagnation to stage a meteoric rise in DATE, but bourse chiefs warn deep-rooted structural problems cloud the outlook for CARDINAL of the world's best-performing markets so far DATE.
The country's CARDINAL major indices, GPE's ORG and GPE's IBOMED, have gained PERCENT in the CARDINAL sessions of DATE Thursday, DATE, grabbing international attention and sending investors reeling with surprise.  
Brokers are convinced that bigger gains are still to come in the course of DATE and that NORP stocks continue to be undervalued by PERCENT.
But the chairmen of the GPE and GPE exchanges believe the traditional ""marriage"" between industrialists and bankers will hamper the transformation of GPE's markets into sophisticated, modern bourses.
""Market performance has been pretty good in DATE so far and we've seen gains that nobody really dared foresee,"" said PERSON, head of the GPE exchange.  
GPE's ORG has gained PERCENT -- despite small falls on profit-taking DATE and DATE after DATE straight gains.  It rose PERCENT in peso terms in DATE -- a real-term loss when set against PERCENT inflation.
GPE's ORG index has leapt PERCENT after losing PERCENT in nominal terms in DATE.
Trading volume is extremely thin, however.  Volume on all CARDINAL of the country's exchanges, including PERSON's tiny PERSON, totalled MONEY billon in DATE.  
Market perception that NORP shares are well below book price, a fall in deposit rates from PERCENT for most of DATE to PERCENT, and optimism that the economy is about to rebound from the sharp slowdown DATE are underpinning the rally.  And a new tax on fixed income papers has also put a premium on equities, many brokers say.
""Once the market caught fire everybody piled in. There was not too much differentiation between shares, which shows these are still somewhat immature markets,"" said market analyst PERSON.  
""We're bullish about DATE and think shares will rise PERCENT PERCENT overall,"" he added. Inflation is forecast to hit PERCENT DATE, which would mean real-term yields of PERCENT.
Edkins expected to see downward corrections of PERCENT in DATE, with new gains from the start of DATE as companies turn in DATE results, followed by DATE results.
Domestic political factors, including the country's simmering guerrilla war, which some military experts predict will intensify in DATE, seem unlikely to cause concern.  
""We've got this crazy equilibrium where there's quite a solid macroeconomic management and then this element of chaos,"" said ORG.  But amid the optimism, bourse chiefs ORG and ORG sounded a warning.
""The main underlying problem is that there are a lack of shares.  That's a structural problem and cannot be resolved TIME,"" said ORG.
""There are favorable terms for companies to raise capital in the stock market but the traditional marriage between industry and the financial sector is not going to be easy to break up,"" said Uribe.
NORP entrepreneurs still prefer to contract debt with the banks rather than risk losing overall control of their businesses by issuing shares.
Of all the country's major conglomerates only ORG has CARDINAL of its companies quoted on the stock market -- but CARDINAL of the shares are in free float, outside the direct control of the companies themselves.
((--Bogota newsroom, CARDINAL 610 7944))",0
"After a DATE struggle, creditors of the collapsed, fraud-ridden ORG will receive a payment of MONEY on DATE, equal to PERCENT of their claims, a spokesman for the liquidators said on DATE.
ORG, founded in DATE, was closed by central banks in DATE and collapsed with debts of MONEY when evidence of massive fraud and money laundering was unearthed leading to a tangled web of litigation which shows no sign of reaching an early conclusion.
BCCI had assets of MONEY and operations in CARDINAL countries at the time of its collapse.
Liquidator ORG and ORG said a further payment, reportedly of PERCENT, of the admitted claims which total MONEY should be made in DATE.
The gross fund of amounts recovered by the liquidators stands at MONEY and includes MONEY paid by ORG's majority shareholder, the government of GPE, which will pay a further MONEY in due course following a settlement reached DATE.
This, in addition to efforts by GPE authorities which resulted in the recovery of MONEY from GPE paved the way for the ORDINAL dividend payment.
A further MONEY was paid by NORP billionaire Sheikh PERSON who the liquidators alleged was involved in covering up the ORG scandal. Under a DATE GPE court settlement, PERSON agreed to pay without admitting liability, in return for the lawsuits being dropped.
The liquidators still have outstanding claims against ORG, ORGORG's operations were based in GPE) and the auditors of the bank, international accountancy firms ORG ORGamp; ORG, now part of the merged ORGamp; PERSON.
Price ORG has said it is making a multi-billion dollar counter claim against GPE.
Further law suits are also pending around the world in an attempt to recover further amounts.
The CARDINAL biggest groups of creditors of ORG are in GPE (GPE) and in GPE.
The NORP liquidators of ORG, ORGamp; ORG, have recovered MONEY and have been paid a massive MONEY in fees.
In a report to ORG DATE, the liquidator said legal fees in the liquidation ammounted to MONEY so far.","ORG DATE unveiled a line of low-cost software to make corporate networks more like the Internet and said that it would ""embrace"" archrival ORG products as part of its war for control of the corporate software market.
PRODUCT is under heavy attack from software behemoth ORG, which is seeking to wrestle away some of PRODUCT's dominant share in both Internet and intranet software.
LOC, Calif.-based upstart has PERCENT of the Internet browser software arena with its ORG software and PERCENT of the exploding ""intranet"" market.
A corporate ""intranet"" is a computer network designed around Internet technology and open standards.
As part of its plan to try to hold onto its lead and to gain entree to more companies, PRODUCT unveiled several products for the corporate market and said it was ""embracing"" ORG applications software and its operating systems because many potential customers rely on ORG products.
""We are very hard-core about ... fitting into our customers' 'legacy' systems,"" PERSON, co-founder and senior vice president of technology at PRODUCT, told a news conference, in CARDINAL of many jabs at ORG.
""Legacy systems"" is a term in the industry that usually refers to the established, older technology running a corporation, such as mainframe computers.
Netscape stock dipped MONEY to $MONEY, while ORG rose MONEYMONEY on ORG.
PRODUCT announced several new intranet products, including new software incorporating the latest upgrade of its popular ORG Web browser, Version CARDINAL, and priced them way below similar offerings by both ORG and ORG, ORG said.
CARDINAL new software product, PRODUCT, combines ORG and other components: PERSON, to create documents in the hypertext markup language (HTML) used on the Internet's World Wide Web; PERSON, an electronic mail application; ORG group discussion software; and ORG service, which delivers messages and news stories to an e-mail address DATE at no extra cost.
Netscape Communicator will replace the current ORG software for consumers. ORG is priced at $MONEY for the standard version and $MONEY for the professional edition, per user.
PRODUCT expects to make ORG available by DATE for CARDINAL major computer operating systems, including LAW, Windows CARDINAL and ORG's ORG.
Users of Navigator 3.0 who have purchased a subscription will receive an upgrade to Communicator at no charge.
PRODUCT also introduced an upgrade of its ORG software, which manages the server computers that run corporate networks.
SuiteSpot is priced at $MONEY for CARDINAL users. This compares with prices of $MONEY to $MONEY for competing products from ORG and ORG, ORG said.
PRODUCT also unveiled an initiative to help corporate users make it easier to use its software with core ORG products, such as its LAW and Windows NT operating systems and ORG with PRODUCT products.
Analysts said PRODUCT is trying to appeal to a whole new group of corporations by enabling its software to run with the huge installed base of ORG-based PCs and servers.
""The strategy is not to scare away the IT (information technology) managers,"" said PERSON, a ORG analyst.
WORK_OF_ART's not-so-friendly bear hug of ORG is part of the David-and-Goliath war with GPE, Wash.-based ORG, the world's No. CARDINAL software company, for control of the Web browser market and more importantly, control of the corporate network. Netscape already derives PERCENT of it revenues from sales of intranet software.
But Netscape acknowledged it may lose some share in the future intranet software market, which ORG is forecasting to reach MONEY by DATE.
""Dominance is hard to measure,"" PERSON said in an interview. ""I think we can get PERCENT of the intranet software market in DATE.""
According to a recent ORGamp; ORG survey of CARDINAL companies, PRODUCT now has PERCENT of corporate intranets, ORG's ORG has PERCENT and ORG ORG.
WORK_OF_ART's Navigator software has created a huge brand name and a ""calling card,"" giving it entree to major  corporations. Now the company must execute its strategy and build a sales infrastructure, ORG said, a major challenge as its growth continues to explode.
The company, which went public in DATE, is expected to grow to CARDINAL employees by DATE, up from CARDINAL at the time of its initial public offering, ORG said.
PERSON added that PRODUCT has not abandoned its consumer focus in favor of the corporate user.
PRODUCT also signed deals with CARDINAL manufacturing partners, including ORG, ORG, ORG, ORG, ORG, ORG. C. Olivetti & PERSON, ORG and ORG",0
"GPE launched the contest to pick GPE future leader on DATE, hailing the event as the birth of ""real democracy"" in the NORP-ruled territory which is set to revert to GPE's control DATE.
But pro-democracy protesters disagreed -- they stormed into the building where GPE rich and mighty had gathered to vote, and, waving imitation black coffins, they denounced the exercise as the death of freedom.
CARDINAL of GPE CARDINAL people are participating in the voting, having joined a special ORG set up under GPE's close supervision.
Shipping tycoon PERSON and his principal rival, former Chief Justice Ti PERSON both scored more than the minimum of CARDINAL votes required to reach the next leg of the contest to select the ORDINAL post-colonial Chief Executive.
Tung took a commanding lead with CARDINAL votes. Also through to round CARDINAL is businessman PERSON, but CARDINAL contenders including former appeals court judge PERSON fell out of the race.
The run-off will be on DATE.
The gathering of ORG, inaugurated by GPE's Foreign Minister PERSON, who was visiting the territory for the ORDINAL time, was marred by scuffles when pro-democracy activists clashed with police.
A CARDINAL demonstrators scrambled into the plush ORG in an unsuccessful bid to disrupt the historic meeting. Police chased protesters up CARDINAL floors of escalators before they were rounded up and detained.
Outside, a police officer received a bloody nose and CARDINAL more demonstrators were carted away in scuffles CARDINAL activists and CARDINAL police.
In his inauguration speech PERSON declared the selection process as the dawn of genuine democracy in GPE.
""For GPE people to elect their own chief executive, that is something unprecedented in GPE history,"" he said.
""For DATE GPE has appointed CARDINAL GPE governors, and when were the views of GPE people ever consulted?"" PERSON asked the assembled caucus.
""The establishment of GPE (SAR) is the start of real democracy in GPE, and not the end of democracy in GPE,"" he said.
GPE reverts to GPE at DATE.
Tung, DATE, PERSON, DATE, and PERSON, DATE, are now the only hopefuls left in the race, and PERSON was at pains to stress that despite claims by critics that the winner had been chosen in advance by GPE's communist rulers, the result was not preordained.
The democracy activists brandished posters of jailed NORP dissidents PERSON and PERSON and banners condemning GPE's plan to replace GPE elected legislature.
""Free PERSON, release PERSON, oppose the provisional legislature"", they shouted through loudhailers.
The democracy lobby brands the leadership race undemocratic and has campaigned against the provisional legislature.
""The provisional legislature is a great step backwards for democracy,"" CARDINAL protest banner said on DATE.
NORP Foreign Secretary PERSON warned GPE on DATE its plans for a provisional legislature risked creating ""confusion and uncertainty"" in GPE.
""GPE would have to explain to GPE and the world why they had chosen to replace a body for which CARDINAL GPE people voted by CARDINAL chosen by a handpicked electorate of CARDINAL,"" he told a parliamentary debate in GPE.","GPE shipping tycoon PERSON was rated by a poll on DATE as the best man to deal with GPE as a GPE-controlled committee grilled candidates vying to run the territory when GPE pulls out in DATE.
GPE hands its colony back to NORP sovereignty at the stroke of DATE, and the CARDINAL-strong ORG is in the midst of a DATE vetting of GPE and CARDINAL rivals bidding to succeed colonial Governor PERSON.
The winner will be announced on DATE.
The opinion poll, conducted among CARDINAL people by ORG on DATE and DATE, showed Tung to be the favourite and indicated PERCENT of the respondents also believe PERSON is the candidate who can communicate best with the NORP government in GPE.
PERCENT thought his rival, former chief judge PERSON could commmunicate well with GPE, while another candidate, businessman PERSON, scored PERCENT.
PERSON, however, was seen as being more impartial and as the man most ready to voice his opinion to GPE, the poll showed.
Asked who was most likely to speak out against GPE, PERCENT said PERSON, PERCENT Tung and PERCENT Woo.
After DATE questioning of the candidates by the committee on DATE, PERSON emerged as a better communicator than he has appeared on previous occasions, analysts 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,"" he said. ""They should not think in this way.""
The NORP are boycotting ORG, condemning its mission to pick GPE post-colonial leader as undemocratic and its activity to assemble a new provisional body to supplant the present elected legislature as a violation of handover pledges made by GPE.
Tung, delivering his policy platform in a speech to the body, outlined a new era in which he would pack his advisory cabinet with specialists and include legislators -- now excluded from the equivalent colonial body.
He also said he would like to retain all the senior local officials of the civil service in sign that he might keep on the present and highly regarded Chief Secretary PERSON.
Among his policy initiatives, PERSON listed the revival of manufacturing industries, especially with a high-tech focus.
In DATE manufacturing has shifted out of GPE to cheaper locations in mainland GPE, and GPE has become a service-based economy.
Tung also said he wanted to boost the role of provident funds and social security. He said he would press for faster approval of construction plans, the sale of public housing to tenants at affordable prices, the release of more government land for housing, and a reduction of red tape.
He said he had a sense of mission to work for GPE good. ""My father PERSON had always taught me to do meaningful things and to be proud of being a NORP,"" he said. ""It is this sense of mission that drives me.""",1
"ORDINAL seed PERSON on DATE withdrew from the $MONEY NORP Indoor Open due to a recurring injury to his right wrist.
PERSON, who tore a ligament in the wrist during a ORDINAL round match at this DATE's EVENT, trained on DATE TIME, but afterward complained of pain in his wrist.
He later told ORG officials that he would not play his ORDINAL round match against NORP Martin Damm later on DATE.
""PERSON said his wrist was too sore and that he would not be able to play TIME,"" ORG Supervisor PERSON told ORG. He did not elaborate.
On DATE TIME, PERSON cruised to an easy CARDINAL 6-4 victory over GPE's PERSON.
During the match he held his wrist several times, and appeared to be favouring it again at practice on DATE TIME. PERSON immediately left the training court for his hotel. He was not available for comment
""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,"" PERSON said after the match on DATE.
The world number CARDINAL tried to return to the circuit DATE, but recurring problems with the wrist forced him to retire from the ORDINAL round in GPE, lose in the ORDINAL round in GPE and withdraw from ORG DATE.
PERSON's withdrawal puts a serious dent in DATE plans to qualify for a record ORDINAL appearance at ORG at DATE. He currently trails NORP PERSON, seeded ORDINAL in ORG, by CARDINAL points for the ORDINAL and final spot in Hannover.
It also comes as a blow to tournament organisers. Though he was only ranked ORDINAL in the tournament behind top seed PERSON and PERSON, it was clear most of the tickets sold were by fans hoping to catch a glimpse of the NORP.
Barely CARDINAL fans came out to watch ORG's ORDINAL round match against world number CARDINAL NORP GPE. In contrast, a tournament record crowd of CARDINAL watched PERSON defeat the Fetterlien, ranked CARDINAL in the world.","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",0
"NORP parliamentarians, in a stinging blow to foreign oil investors, on DATE said they would ask lawmakers to reject a bill outlining oil reserves open to production-sharing agreements.
The bill, a list of CARDINAL oil fields holding PERCENT of proven NORP oil reserves, is a key step towards unlocking MONEY in planned and proposed investments in NORP oil, including a huge project by ORG
But members of the audit chamber of parliament told a news conference they would ask PERSON (lower chamber) deputies to reject the law DATE.
The call for rejection, likely to be accepted, is a slap in the face for Prime Minister PERSON, whom foreign oil investors have considered their guardian angel in GPE and who has been instrumental in getting energy deals off the ground.
It is also the latest sign that GPE, in a quiet change of policy, is getting tough with potential Western oil investors and seeking ways to give its own oil companies, which hold licences to most of the fields, a chance to get on their feet and compete with Western majors.
""It's quite a major setback,"" said a senior NORP energy consultant who asked not to be named. ""There's a real feeling in GPE of ""why should we give up any of this -- it's ours'.""
Duma Deputy PERSON, who is deputy chairman of the audit chamber, said the chamber had rejected the reserves list because government officials had not presented financial analyses proving that the fields would earn GPE more money faster if developed on a production-sharing basis.
Production-sharing contracts bring Western oil firms into risky countries by allowing them to finance and develop oil production through the sale of some output on world markets to cover costs and generate returns. The rest of the oil goes to the host country, which also get royalties and profit taxes.
Under the scheme, ordinary tax regimes are not applicable, giving the investments an acceptable return.
Boldyrev said foreign investors would not be worried by the chamber's rejection and said GPE should slash the number of reserves open to output-sharing to CARDINAL a year.
But senior oil executives are likely to be annoyed.
""We are of course worried about anything that slows the process down,"" said PERSON, senior vice-president and resident manager of ORG in GPE.
While officials recommended that the field ORG is eyeing, ORG, be included eventually in the production-sharing list, they said CARDINAL prize, giant fields -- ORG -- would not be tendered to foreign investors.
ORG and NORP oil firm YUKOS have a preliminary MONEY production-sharing deal to tap PRODUCT, one of GPE's largest oil fields, in western LOC's Tyumen region.
But negotiations have slowed, partly because parliament has not yet approved the reserves list.
More bureaucratic delays appear to be on the horizon, blocking MONEY in planned foreign investments in NORP oil and retarding potential projects.
""We need a host of laws clarifying on what grounds a specific field should be included in the list,"" said parliamentary auditor PERSON.
Boldyrev, complaining that GPE's black gold goes into a black hole when oil firms underpay taxes to state coffers, said the chamber also rejected the reserves list because output-sharing contracts might award too many tax breaks to companies.
GPE, the world's ORDINAL largest producer of crude oil, DATE passed a production-sharing law but only after revising it to meet demands by domestic lobbyists worried about the country's resources being exploited too cheaply by foreigners.","GPE's ORG, sitting on the remains of the once-great power it wielded over the oil sector, is struggling to redefine itself in the new market economy, energy analysts said on DATE.
The body, known as PRODUCT, could once command that oil wells be drilled, helped to restrict exports with quotas and ensured that MONEY in oil export cash from the world's ORDINAL largest oil producer went into ORG coffers.
DATE the power to produce, export and plot corporate strategies largely lies in the hands of GPE's newly privatised, vertically integrated oil firms -- leaving the ministry to redefine itself in the new market economy.
""You kind of have to use the word castrated -- it's not what it once was,"" said a NORP energy consultant in GPE.
Under new minister PERSON, a gas transport specialist, PRODUCT may have even less of a say in the DATE business of oil firms, which increasingly go about their own business and cut their own deals with foreign investors.
Oil companies say the ministry, as the guardian of big state stakes in them, could become a lobby for their interests in the ORG and less the long-arm of politicians seeking oil profits to top up the federal budget.
""Undoubtedly its regulatory influence has waned,"" said PERSON, spokesman for ORG, GPE's ORDINAL largest oil company in terms of reserves. ""We don't see it (their former influence) and, frankly, don't want to see it.
""But the ministry does explain our point of view on taxes to the government, and for that we are grateful.""
Known as ORG in the NORP era, PRODUCT lost responsibility for what is DATE Gazprom, the natural gas monopoly, when it was renamed in DATE.
During ORG's existence, it has seen GPE's state-run oil production associations transformed into privatised companies, some of them with multi-billion dollar arrangements with Western oil majors.
ORG's brief includes coal and electricity. But many of its oil specialists have fled the ministry's ORG-era building for lucrative jobs at investment banks and oil firms.
Even former minister PERSON left in DATE to head the board of ORG, whose headquarters are in his NORP power base in the oil-rich Tyumen region.
""The ministry is simply not going to be as important as it once was,"" said PERSON of ORG in GPE in a recent interview. ""It's going to be left with a policy-making, advisory, overseer role -- and that's a good thing.""
PRODUCT has a new challenger to the remnants of its power base in the form of ORG, or ORG.
The brainchild of presidential chief-of-staff ORG, ORG wants to inject a free-market flavour into energy tariff and transport issues, although it is unclear how much leeway it will have. It is seeking to award access to crowded pipeline routes by tender, thus restricting the power of oil pipeline monopoly LOC in non-operational issues.
PERSON has said he plans policy changes -- but he has not revealed what he has in mind and has worried some industry players with talk about freezing domestic crude oil prices.
An aide to PERSON said the ministry was foresaking its broad-brush ""industry-wide approach"" to energy in favour of concentrating on what he said were individual matters important to the NORP economy, like tax breaks for oil companies.
But CARDINAL Western oil source said he was not so interested in what PERSON planned, because the ministry had lost its power.
""Power has been devolved by default out to the oil companies and the ministry recognises this, which is why it puts its people on company boards,"" said PERSON, associate oil and gas director at ORG in GPE.",1
"The sentencing of NORP dissident PERSON to DATE in prison in GPE on DATE sparked fears in GPE about curbs on freedom when the territory reverts to GPE DATE.
CARDINAL demonstrators marched to GPE's diplomatic mission in GPE to protest against the verdict and a human rights group vowed to lobby for a resolution to be passed at ORG condemning GPE's human rights record.
""PERSON is innocent. Release PERSON,"" protesters shouted as they marched to the headquarters of ORG, GPE's de facto embassy in the NORP colony.
There they joined other campaigners in a candle-lit gathering.
A GPE court found the DATE ORG guilty of conspiring to subvert the government after a trial lasting TIME. ORG said the trial proved he had received funds from hostile overseas forces, aided the families of jailed dissidents and set up an ""opposition force"" by uniting illegal organisations.
ORG had earlier served DATE for his role in the DATE pro-democracy demonstrations in GPE crushed by the army with heavy loss of life.
""We worry that the NORP government (would) apply a similar standard in GPE,"" legislator PERSON of ORG said.
GPE Governor PERSON said: ""I recognise the very considerable concern that many people in GPE, and many people around the world, feel about a sentence imposed on a young man for activities which in most places, including GPE, would be entirely legal.""
""By any legal standards, DATE's trial of PERSON was a farce,"" said PERSON, director of the GPE office of ORG.
""Clearly, its sole purpose was to put PERSON behind bars for as long as possible with the minimum legal fuss and bother.""
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 NORP countries to pass a resolution at ORG condemning the human rights situation in GPE.","NORP water and sewerage company LOC turned in sparkling ORDINAL CARDINAL profits on DATE and hiked its dividend by an expected PERCENT, promising further increases in DATE to come.
The company, which evaded takeover DATE when CARDINAL proposed bids were blocked by the GPE government, said it expected to raise its total dividend by PERCENT DATE and make real a rise of PERCENT ""for the foreseeable future"".
South West Water's pretax profits for DATE rose to MONEY (MONEY) up PERCENT and ahead of expectations of CARDINAL to 68 million pounds.
It paid out a dividend of MONEY as promised when the bids, from ORG and Wessex, were unexpectedly halted by the GPE government in DATE.
""The dividend policy will continue to be based on the pursuit of progressive growth,"" the company said in a statement.
But DATE surge in profits was unlikely to be repeated, finance director PERSON told ORG. ""I do not think a PERCENT increase in ORG (profit before tax) is likely to occur at DATE,"" he said, nor in DATE immediately following. ""But we are looking for profit increases,"" he added.
Shares in the company closed MONEY up at CARDINAL after touching a high of MONEY.
PERSON, which reported DATE, saw DATE profits rise PERCENT and raised its dividend PERCENT. ORG, which kicked off the flow of interim results in the sector on DATE, turned in pretax profits before exceptionals up PERCENT and raised its dividend PERCENT.
South West Water has also committed to pay out a rebate of QUANTITY each to customers after the planned bids were blocked but PERSON warned further rebates would not be automatic.
The company failed DATE in a bid to have price caps imposed by regulator GPE raised as ORG said it should find QUANTITY it said it needed for environmental upgrades from efficiencies.
It has since made an earlier rebate of QUANTITY to customers, announced additional investment of MONEY and brought forward QUANTITY of investment in cleaning up at GPE, a favourite beach area for surfers. PERSON said the company's strategy now was to ""focus on the core business...and develop very carefully the strategy of the non-regulated businesses.""
Dividend payouts would be helped by efficiency savings and improved profitability in its non-regulated businesses, which contributed MONEY to interim profits, executives told a press conference.
Chairman PERSON told journalists the company aimed to balance turnover contributions of non-regulated and regulated businesses ""as soon as we can.""
New acquisitions contributed MONEY to operating profits of QUANTITY in non-regulated business DATE and PERSON said there was CARDINAL available to make further purchases.
But there are no specific plans for acquisitions. ""Our track record shows...we are not frightened (of making acquisitions) but it is a question of finding ones that make sense,"" PERSON, head of the group's non-core division, said.
At the same time, the company's balance sheet was strong enough to effect a share buyback if it decided to make use of a mandate to buy PERCENT of shares, PERSON said.
($MONEY Pound)",0
"ORG admitted on DATE to not sharing the same culture as its merger partner ORG, GPE's ORDINAL largest international carrier.
But after reporting robust DATE profits, helped by ""healthy"" demand for its products and services, ORG's chief executive Sir PERSON told reporters, ""We are open minded that these things (mergers) have their pitfalls on culture.""
Commentators have dubbed BT ""staid"" and ORG ""spunky"". But ORG said ORG staff he had met so far had been ""amazingly enthusiastic"" about the CARDINAL companies' planned MONEY merger, which ORG expects NORP and NORP regulators to clear by DATE.
After a QUANTITY (MONEY) charge for redundancies, ORG's DATE pretax profits rose to MONEY (MONEY) from MONEY last time -- towards the upper end of analysts expectations.
BT announced DATE that it planned to buy PERCENT of ORG that it did not already own. The new group, called ORG, aims to service multinational companies end-to-end and be represented in all the world's key nations.
BT also hopes to become the ORDINAL telecoms operator in continental LOC as key markets are eased open to competition in DATE and is itching to get into lucrative NORP markets.
BT has CARDINAL of the most comprehensive network partnerships across LOC, having set up joint ventures in CARDINAL continental NORP markets worth MONEY.
In a move to boost its NORP venture, ORG announced that NORP telecoms operator PERSON had agreed in principle to take a PERCENT stake in VIAG ORG, the alliance ORG has set up with NORP engineering conglomerate ORG.
Telenor brings with it vital expertise from operating in CARDINAL of the world's most saturated markets for mobile telephones. Having won a mobile and fixed-line licence in GPE, ORG said VIAG ORG would be the ORDINAL major telecoms copany to exploit the convergence between the CARDINAL services.
In DATE, BT beat arch-rivals PERSON and ORG by clinching a deal with ORG in GPE's ORDINAL telecom network ORG.
While global telecoms groups jockey for position in a race to secure lucrative services to multinational companies, GPE is seen as the last major frontier.
BT has been wooing GPE's ORG and ORG, the world's biggest telecoms titan, for DATE.
While ORG takes its time to decide how best to enter the international market, ORG's finance director PERSON told ORG that the group did not expect an ORG-type deal in the NORP telecoms markets ""in DATE"".
""I think we will continue to develop on a global basis as and when the opportunities arrive,"" he said.
Bonfield, who was in GPE DATE, said ORG was too big a company to risk linking up with a single company.
""But it may come up with a preferred partner -- and we would like to be that partner,"" he said. BT, which already has a technology agreement with ORG, is keen to use the MONEY group's lines to sell its PERSON services to business clients.
BT's share price, which has surged to new DATE highs of PERSON in the run-up to results, seesawed despite what ORG's analyst PERSON called ""a good, cheerful presentation"".
ORG has edged up his full year forecast to a pretax profit of MONEY, largely because of QUANTITY reduction in the level of expected redundancy charges.
BT saw net cash inflow swell to MONEY in DATE and has now got a hefty MONEY of funds on its balance sheet.","PERSON name cards describe him as ""Free Man"" and ""World Citizen"", but for DATE the democracy activist's world will be a prison.
The disappearance of the DATE into the NORP gulag on DATE signalled a tightening of ORG grip on all aspects of life -- from religion to crime, from where people may speak to where they may spit.
The sentencing of the former leader of the DATE FAC pro-democracy demonstrations left only a handful of the country's dissidents free.
EVENT took TIME to convict PERSON of plotting to subvert the government.
""What do they really think they have to be afraid of from people like me?"" said CARDINAL prominent dissident after learning that PERSON had been jailed.
""Of course, they don't really believe that a kid in his 20s poses a threat,"" said the dissident, who like others interviewed recently, declined to be identified.
""But by putting him in jail they create a hostage who they can release whenever they feel they need to make a gesture on human rights to the LOC,"" said the dissident, who spent DATE of ORG's trial with a policeman posted in his living room.
The dissident is one of a rapidly dwindling band still at liberty in GPE.
Most are either sentenced to lengthy jail terms, serving in labour camps, living in voluntary exile or enforced banishment overseas or just keeping their heads down while the security apparatus seeks pretexts to lock them up and remove what it sees as a potential threat to party rule.
""Don't think for a moment that the aim of sending PERSON to jail is just to frighten people like me,"" said the dissident.
""This is a warning to GPE that says 'We can be tough to our own people and we can be tough to you, too',"" he said.
DATE, a ORG official underlined the tensions in the NORP-U.S. relationship by describing GPE's current leadership as the most difficult that GPE has had to deal with in DATE.
When GPE Secretary of ORG PERSON comes to GPE in DATE he will find few dissidents to add to his cocktail party guest list.
PERSON, a veteran of the ill-fated DATE pro-democracy demonstrations who wrote a letter to the government DATE calling for a crackdown on corruption, lives quietly in GPE.
Outspoken environmental champion and author PERSON -- who spent DATE in prison after DATE, military crackdown in FAC -- writes, campaigns against the huge ORG dam on the LOC river and often gives interviews in GPE to foreign reporters.
Veteran democracy activist PERSON DATE completed a DATE prison term for subversion but has kept silent since a police ban on meeting foreigners and publishing his writings.
Ren Wanding, like PERSON a veteran of the DATE Democracy Wall movement, was released DATE from a DATE term for his role in the DATE student movement and has kept a low profile, unable to meet foreigners or to vent his opinions.",0
"The NORP government on DATE said the design of ORG's freight trains would have to be scrutinised after a massive fire swept through one of its main tunnels, injuring CARDINAL people and causing wide damage.
NORP transport secretary Sir PERSON told parliament he was sure the NORP-French ORG would look at the design aspects after warnings from NORP fire chiefs about the safety of the trains.
Any changes to the design of ORG carriages would be another costly blow to the ORG operator which recently came back from the brink of bankruptcy after restructuring its MONEY (MONEY) in debt.
The fire, the ORDINAL serious incident since the tunnel opened DATE, halted services on DATE. Even if limited services resume on DATE, PERSON warned that traffic capacity would be cut to CARDINAL of normal levels for an indefinite period.
The fire and worries about the extent of damage and a resultant safety review hit ORG shares.
In GPE, they closed down MONEY at MONEY while in GPE the stock dropped PERCENT to MONEY per share. But trading in its debt was barely changed.
One freight customer ORG said it would be relying more on ferries as a result of the fire.
Eurotunnel confirmed in a statement that CARDINAL heavy goods vehicles and the rear locomotive had suffered ""severe"" damage.
The fire was reported to have started in a goods carriage carrying a truck holding flammable polystyrene but ORG said the cause had not yet been determined.
The goods vehicle shuttles 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 fire, told ORG earlier: ""Our chief officer warned the safety committee (for the tunnel) DATE.""
He suggested that fire fighters could raise this issue once again with ORG.
ORG's spokesman refused to comment on whether changes will need to be made to carriages, adding that: ""It is a key question.""
A spokesman for ORG told ORG that past concerns about the safety of these carriages had led to PERSON carrying out safety tests DATE. ""They were then approved in DATE,"" he said.
Apart from possible safety changes, ORG faces other heavy costs.
The ORDINAL is lost revenue due to reduced traffic. A ORG spokesman in GPE told ORG ""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 of the fire.
Eurotunnel confirmed in a statement that CARDINAL heavy goods vehicles and the rear locomotive had suffered ""severe"" damage. ""It is a serious accident,"" chairman PERSON said.
A ORG spokesman said the cost of repairs was not yet known. ""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 goods train is MONEY, but ORG said it did not think an entire train would need replacing. It 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, although the company said it is heavily insured.
The fire comes just before DATE when the tunnel was expecting 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. ($MONEY Pound)","Chemicals and plastics group ORG posted on DATE a steep fall in annual net profit, blaming it in part on sharply lower plastics prices, but said the company was poised for major new expansion in LOC.
Managing director PERSON said the group's net profit after abnormals of MONEY reflected DATE, but the ""pain"" of restructuring and efficiency drives over the period would start to pay off in CARDINAL.  
""We have in place a sounder base going into (1996-)'97 in terms of lower fixed costs, better volume in terms of upgrades of plants and lower variable costs...,"" he told reporters here.
Trading profit from the plastic division almost disappeared in CARDINAL, plummeting to MONEY from a record result of MONEY in CARDINAL and mirroring a similarly sharp drop in world plastics prices from DATE, he said.
Plastic prices have fallen on average by US$MONEY per tonne since their peak of A$MONEY per tonne in DATE, he said.  
ICI GPE, owned PERCENT by NORP chemicals giant ORG, makes QUANTITY of plastics DATE.
The company's paints, vinyls and chemicals businesses also reported weak results in CARDINAL, due to sluggish building activity in GPE, but its ORG fertiliser subsidiary put in a strong performance in DATE.
""That's offset the CARDINAL very severe effects of the building industry and downturn in plastics prices to some extent,"" Haynes said.  
ICI GPE is not banking on a rise in plastics prices in CARDINAL, but believes it is now in a stronger competitive position due to the recent conversion of its GPE plastics plant to more efficient ethane feedstock.
The switch to ethane from a mixed feedstock of liquified petroleum gas and naphtha has fundamentally changed ""the whole economics for the plastics business for ORG"", he said.
The company also shed CARDINAL jobs in CARDINAL, or PERCENT of its workforce, including CARDINAL jobs lost due to the closure of vinyl production in GPE, ORG said.  
""Whilst we have got ourselves in good shape in terms of costs and capacity, I can't predict what the outcome will be (for CARDINAL),"" he said, adding that world prices and domestic demand would determine the direction of profits.
ICI Australia would continue in CARDINAL to run capital expenditure at MONEY, but the portion spent in LOC will at least double to MONEY, ORG said.
The group spent MONEY in CARDINAL in LOC, where it invested in polyethylene manufactuere in GPE, a resin plant in GPE and explosives production in GPE.  
New investments in the region could be much larger, and investments ranging anywhere from MONEY would be considered, ORG said.
""We have started to move into LOC in (1995-)'96 and we have plans to move further into LOC in (1996-)'97,"" he said.
""We would expect to step that up in DATE and possibly with investments on a larger scale than in DATE, but we also see investment opportunities in GPE,"" he added.
-- GPE bureau CARDINAL",0
"GPE's largest brewer NORP and ORG announced a PERCENT increase in DATE profits to MONEY (MONEY) on DATE and said DATE had started positively.
The company's acquisition of ORG from NORP brewer ORG DATE helped give PERCENT push to MONEY in trading profits from its beer divisions.
""Overall, I think our PERCENT dividend increase, at the top end of the (forecast) range, is a measure of our confidence for DATE,"" chief executive PERSON told ORG in an interview.
The dividend rise to MONEY per share beat most analysts' forecasts which were centred on a CARDINAL payout.
""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,"" he added.
The company's shares rose CARDINAL to PRODUCT. ""The results were well ahead of our expectations. The really surprising number was the one that came in from beer. We were very impressed,"" said PERSON, an analyst at ORG.
A ORG poll of analysts produced a forecast range of CARDINAL for pretax profits.
Beer sales fell by PERCENT compared with DATE which was bolstered by outstanding DATE weather, said the company. Despite this, S&N said sales of PERSON, the country's leading ale, were up PERCENT and sales of PERSON's lager grew PERCENT to its highest ever volume.
PERSON, however, bemoaned the failure of Chancellor PERSON to reduce excise duty on beer in his ORG DATE.
Profits from its S&N's PERSON activity holiday resorts were down PERCENT at MONEY due to the weak economic background in mainland LOC and the cost of improving its facilities in the GPE and GPE.
The company sold its smallest village at GPE, GPE, and had to close its ORG parc in GPE while it upgraded the centre.
""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.
Profits from the company's pubs grew PERCENT to MONEY, driven by its managed outlets where like-for-like food sales across the estate grew by PERCENT as the company put more restaurants into its premises.
The company will open CARDINAL new ORGamp; Brewer pub restaurants by DATE and push the ORGamp; Co community pub brand very strongly, said PERSON.
""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,"" he said.
Profits from S&N's tenanted pubs fell PERCENT to MONEY after the company was forced to sell off outlets to comply with a government requirement, imposed as a condition of S&N's acquisition of ORG.
($MONEY Pound)","NORP consumers are feeling better, they are spending more on leisure, and the upward trend is set to roll for DATE, said ORG chief executive PERSON.
""The markets in which we operate are better than they have been for DATE. People are feeling better. House prices are rising again, the job situation is better and they have seen personal tax decreases DATE,"" PERSON said in an interview.
Earlier ORG posted a PERCENT rise in DATE pretax profits to CARDINAL, beating analysts forecasts.  
""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.
He said the outlook was unlikely to be affected by the government's budget statement on DATE or if the opposition ORG wins the next general election. Labour have pledged to introduce a national minimum wage.
""I'm on the record as being in favour of a national minimum wage. I hope and believe it will be set at a reasonable level.""  
ORG's workforce comprises CARDINAL full-time and CARDINAL part-time staff, with many working in catering.
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.""
""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 stayed at ORG's Marriot hotels for the ORDINAL time in DATE.
""We never had effective marketting in the GPE for our hotels before. This link up with GPE in the GPE gives us a great marketing power. And they are in really attractive places for NORP visitors like PERSON-upon-Avon and Edinburgh. So we have seen a huge influx of NORP and in many places it has put CARDINAL extra points on occupancy levels.""
ORG acquired health and sports club group PERSON for CARDINAL stg 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.
ORG plans to expand its hotel presence in GPE by converting FAC and bringing PRODUCT into the capital. 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.  
ORG, which includes casual dining out pub chain PERSON, saw profits grow by PERCENT to CARDINAL and total sales by 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,"" said PERSON.
The group thinks it can add CARDINAL new NORP's a year -- ORG acquired for CARDINAL in DATE owns NORP bistro style cafes the FAC and ORG -- bringing the total to CARDINAL.  
""The most satisfying thing for me is the capital we have put into new businesses and invested in them has paid off. They have all performed well.""
ORG now owns ""CARDINAL strong concepts that will give us good growth for DATE.""
ORG, which confirmed DATE it was in talks with ORG about buying its pizza and pasta chains, hopes to agree on terms DATE, said PERSON.
BrightReasons owns a CARDINAL-strong chain of restaurants trading as PERSON, ORG and Pizzaland.
-- GPE PRODUCT +44 CARDINAL 7717",1
"GPE released dissident PERSON on DATE to allow the ailing activist jailed for his role in ill-fated DATE pro-democracy protests to seek medical treatment, a family member said.
The release of the leading dissident on medical parole came just seven days after a GPE court jailed former student leader PERSON for DATE following a brief trial that prompted expressions of concern from around the world.
PERSON, DATE, arrived home from FAC at TIME (DATE ORG), his mother PERSON said.
""His wife went to meet him... He's at his own home,"" PERSON said in a telephone interview.
""Because he is ill, he asked to be released on bail for medical treatment,"" she said, adding it was unclear how long PERSON would be permitted to remain at liberty.
The veteran pro-democracy activist was sentenced to DATE in prison in DATE for engaging in ""counter-revolutionary"", or subversive, activities during pro-democracy protests centred on GPE's FAC in DATE.
PERSON had been singled out by GPE authorities as a behind-the-scenes ""black hand"" 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.
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.
It was unclear whether PERSON, who has been treated for cancer, hepatitis B, heart disease and other ailments, would be imprisoned again after treatment, his mother said.
""Last time, in DATE, he was also released on bail for medical treatment and later they made him go back,"" she said.
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.
""Recently he has been suffering from a lot of illnesses,"" said PERSON, who DATE joined other family members in a bold campaign to demand medical parole for her son.
PERSON, who ran a social sciences institute with fellow activist PERSON until the DATE protests, had been receiving medical treatment twice a month while in prison, she said.
His release by NORP authorities came amid condemnation from human rights groups over the jailing of PERSON after a hearing DATE that lasted TIME.
GPE and other nations expressed deep concern over the verdict and sentence. NORP state media hailed ORG's trial as a model of fairness, but rights activists called it a parody of justice held only to mask a pre-arranged result.
ORG, a dissident also known for his role as a leader of the DATE pro-democracy protests, had pleaded not guilty to subversion charges carrying a maximum death sentence and DATE imprisonment.
The DATE sentence imposed on him was the latest in a series of crushing blows to GPE's embattled band of dissidents, most of whom were already either in exile or serving long terms in administrative detention or prison.","Elections to the new NORP ORG over DATE will only thicken the country's political fog, but an indecisive electorate has already been priced into the financial markets, analysts said on DATE.
Prime Minister PERSON has been stuck in an uneasy political co-habitation since his centre-right coalition fell CARDINAL seats short of a majority in the lower house on a strong ORDINAL place showing by the NORP in DATE.
Analysts say the ORG elections should not signal any clear shift in the political winds, and the markets will be stuck wondering if the CARDINAL-party conservative government can hang on for its DATE term which runs through DATE.
They say only an unexpected clear victory for the opposition NORP over ORG's ORG (ODS) would hurt the NORP crown or capital markets.
""The markets will definitely turn down (on a NORP victory), same as in the (lower house) elections,"" said PERSON, research director at GPE investment house ORGamp; Co.
But he added that market expectations ""are for ODS to win"".
Klaus and his team of economists and technocrats became standard-bearers for post-NORP reforms after taking power in DATE with a CARDINAL-seat majority in the lower house.
The markets, pollsters and pundits were caught off guard when the Social NORP -- who have been ambivalent to balanced budgets and privatisations -- did so well.
The crown fell a full percentage point on the DATE results, and the stock market lost PERCENT of its value before stabilising when a minority government was confirmed.
""I think investors (this time) have already included in their behaviour expectations of inconclusive results,"" said PERSON, chairman of GPE-based GPE.
ODS and the NORP are running close in recent opinion polls at PERCENT support each, after ORG won the DATE vote with PERCENT, with CSSD at PERCENT.
But since the ORG vote is a ORDINAL-past-the-post poll in individual constituencies, forecasting victory is difficult when gauged only by available party preference surveys.
Local analysts see ORG's ODS and its CARDINAL coalition allies winning a majority of the ORG's CARDINAL seats, but they do not expect a result giving the coalition or opposition a clear advantage to push for an early election in the lower house.
""I don't think we are going to be facing a risk of extraordinary (lower house) elections, and I doubt that ODS will be willing to take that risk,"" PERSON said.
The CARDINAL-round ORG polls, beginning on DATE with runoffs DATE, are not likely alter the course of the country's legislative agenda.
The stock market and the NORP crown have had diverging fates since the DATE vote, for reasons beyond election fears.
The crown has remained strong, despite a growing trade gap, consistently trading in a tight range QUANTITY above the central bank's mark/dollar basket.
The crown got a boost in DATE when CARDINAL NORP crossed over to vote with the government in approving the ORDINAL draft of the DATE budget.
Meanwhile, ORG (PSE) has been rocked, not by the political situation, but by discontent from foreign investors unhappy with the country's opaque trading environment.
The ORG's official ORG index has been on a steady slide since DATE, dipping below CARDINAL DATE, heading toward its historic record low of CARDINAL.
Few think the ORG elections will serve to revive the securities markets, as market reform is not a high priority.",0
"Mention moneylending to most PERSON and their instant reaction is ""you mean loan-sharks!"".
But GPE's established credit companies, which lend to people unable to borrow from the high street banks or credit card companies, say the public image of menacing debt collectors is a far cry from how they conduct their regulated business.
""We are credit collectors. A debt collector is someone who has no relationship with the customer. It's a totally different process,"" says PERSON, chief executive of the financial services group ORG, which runs door-to-door moneylenders PERSON.
Such firms are tied closely to the wheeling and dealing of GPE. ORG, ORG and ORG are all publicly quoted, profitable firms paying shareholders DATE dividends.
People who borrow from them may have had minor civil court judgements against them, be unemployed or simply not want to have bank accounts or credit cards. The firms provide a service others -- except for unregulated outfits -- will not, and while it won't cost a pound of flesh, it is not cheap.
To those used to credit cards or in-store credit the rates may appear outrageously high. But credit companies point out they include major costs such as collection and insurance, are agreed in advance and do not rise if a payment is missed.
So while interest rates may be at all-time lows, these service charges mean the APRs (annualised percentage rate) can exceed PERCENT. To borrow MONEY ($MONEY) over DATE from GPE with a QUANTITY DATE repayment costs QUANTITY.
PERSON, which started in DATE in northeast GPE, has CARDINAL agents. Its average loan is for DATE, the average amount QUANTITY and average indebtedness QUANTITY.
STREET COLLECTING
QUANTITY from the City, but QUANTITY from its hefty salaries and bonuses, PERSON, a self-employed agent for PERSON, does her DATE door-to-door collection of debt repayments through the streets of northwest GPE.
The terraced suburban houses at which she stops are remarkably average. Most have front gardens, some are neatly laid out with blooming rose bushes while others are less well-kept, with tatty patches of litter-strewn grass.
Inside there are the usual consumer trappings of DATE NORP life.
Televisions, video-recorders, washing machines and microwave ovens, even the odd fish tank, are all in evidence, especially when crammed into a small council flat along with children, their toys, pets and piles of ironing.
At each house PERSON, a DATE mother of CARDINAL, collects sums ranging from QUANTITY fifty to QUANTITY.
Some customers take loans in the form of vouchers which can be spent only at certain high street shops, while others use the retail service offered by PERSON and buy items such as bed linen, beds or barbeques from the firm's own catalogue.
Most of her clients seem to welcome her as a friend, they expect her visits and have the money ready to hand to her. PERSON says that, after DATE, she is a treated as a long-standing family friend or agony aunt by many of them.
Only at CARDINAL home does the son of the house come to the door and tell PERSON that his mother isn't in. ""Fine, can you tell her I'll see her as usual DATE,"" says PERSON.
But getting money back isn't always this easy.
PERSON admits that if a customer threatens her, she passes the problem back to the company, which says it instructs its self-employed agents not to take personal risks.
MONEYLENDERS PLUG GAP IN FINANCIAL SERVICES
""The CARDINAL thing about credit is that it is easy to give but much harder to get back,"" says PERSON, a GPE regional manager who has been in the business for DATE as customer, agent and manager.
He is not alone as a successful businessman who has made use of GPE's long-standing system of moneylending. The managing director of CARDINAL NORP bank confided he would not be where he is DATE had it not been for a money lending firm.
His family could not afford to buy him a suit for an interview. He took a loan, bought the essential attire, got his ORDINAL job and set himself on the path to greater things.
Oliver says CARDINAL out of CARDINAL times business is conducted with the woman of the house and although bad debts are expected, they only reach PERCENT a year, which is good going for a business the mainstream lenders won't touch because of the risk.
A recent television documentary showed some moneylenders breaking rules laid down by ORG. PERSON says he deals harshly with anyone who steps outside the rules.
For Cran firms such as his are plugging a gap in GPE's financial services marketplace and he is keen to correct what he sees as ""untrue perceptions"" about the business. ""What we are actually attempting to do is to deal with customers who cannot get credit through the mainstream lenders,"" PERSON told ORG.
""It (door-to-door lending) is very high cost and very personal. We have to train people to look after a number of customers,"" he added. A customer who fails to pay is only pursued through the courts ""as a very last measure"" and only in ""very extreme circumstances"" is an outside firm called in.
Cran says ORG's target market is CARDINAL-and-a-half million people, CARDINAL of whom need the discipline of an agent calling to collect DATE.
But the stigma involved means ORG also offers Welcome, a loans service for people who have bank accounts and pay by direct debit. This ""requires a very high rejection rate and an in-depth granting procedure"", PERSON says.
SHAREHOLDERS REAP THE DIVIDENDS
For ORG and its competitors credit is a lucrative business. In DATE it reported increased pre-tax profits for DATE of MONEY. In DATE its shareholders received a total dividend of MONEY.
In August Provident Financial, the sector's biggest player, reported ORDINAL half pre-tax profits of MONEY. It said it had seen continued growth in home collected credit and was confident of a ""good result"" for DATE as a whole.
But for customers, things might not be so rosy. While most manage to pay back their loans, some do not. PERSON soon spots trouble. ""You can see they are struggling if they start having to scrabble around for pennies,"" she says. ($MONEY Pound)","NORP consumer prices edged up less than expected in DATE, pleasantly surprising analysts though they remain guarded on the prospects of whether the government can hit its DATE target.
ORG (ORG) said on DATE that CPI rose PERCENT, DATE, in DATE after an equally unexpected PERCENT increase in DATE.
The year-on-DATE rate now stands PERCENT higher while the DATE sliding DATE average inflation average was PERCENT, after PERCENT in DATE. A ORG survey of economists had predicted a DATE increase of PERCENT.
""Our forecast for DATE does not change, which is also given by the fact that 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 development of DATE will repeat 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 PERCENT DATE increase in the food, tobacco and beverages sector contributed to the overall result, though they warned it 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.
-- Prague PRODUCT, CARDINAL-2-2423-0003",0
"A small securities house has cracked open GPE's highly regulated stockbroking commission system in a move which industry sources say should accelerate plans to deregulate the stock market.
ORG said on DATE it would cut its brokerage fees for stocks and convertible bonds traded over the counter by CARDINAL, starting from DATE.
It is the ORDINAL time a broker has said it will deviate from the norm in setting its fees.
Brokerage commissions for stocks listed on NORP stock exchanges are fixed under ORG, while fees for over-the-counter trade can be set within a range fixed by ORG.
But brokers have so far charged uniform fees on stocks traded over the counter, the sources said.
After ORG's announcement, ORG said it had cut its brokerage fees for stocks traded on GPE's over-the-counter market by CARDINAL, effective from DATE.
ORG said other companies in the industry had tried to pressure it into not making the change.
""Some of them tried to criticise and pressure us, but we decided to help revitalise the market by taking the steps as long as they meet the rules,"" a ORG statement said.
An executive at a medium-sized NORP broker said: ""ORG's decision will accelerate the liberalisation of stockbroking fees.""
He added that both big and small brokers would have to decide by DATE whether to follow ORG's example or possibly lose business to it, he said.
But ORG, a medium-sized broker with a strong customer base in the OTC market, said it would not cut its fees for now.
""Our strategy is to earn commissions by offering something value-added... We plan to differentiate our service by offering better information,"" an ORG spokesman told ORG.
An advisory panel to ORG is currently discussing how stockbroking fees should be deregulated and is due to make a final proposal by DATE.
Prime Minister PERSON unveiled in DATE a DATE plan for ""Big Bang"" reforms to liberalise GPE's financial markets and catch up with reforms carried out DATE in LOC and LOC.
They include liberalising the stock commission system.
An official at EVENT"" broker said the liberalisation was likely to take place sooner than the industry expected.
""As for stockbroking commissions, the liberalisation may come all at one time, rather than by gradual implementation,"" he said.
Industry sources said that without the deregulation, NORP institutional investors would go abroad, where it costs less to place orders for NORP stocks.","GPE is eyeing its ORDINAL bad grain harvest in a row and will need imports despite a prediction by Prime Minister PERSON that output will be enough to meet demand, industry sources said on 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 maize and soymeal plus QUANTITY of food wheat from GPE, GPE and/or GPE.
ORG said domestic feed maize was in short supply, but maize 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 year-on-year.
Industry sources said the most likely buyers would be the CARDINAL NORP commercial banks authorised to use GPE government commodities credits.
Sources said ORG had used GSM-102 credits to buy QUANTITY of GPE wheat through GPE for GPE's LOC for delivery to PERSON DATE.
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. These stocks were QUANTITY in DATE but were CARDINAL in DATE.
PERSON said ORG, which buys for strategic needs including the army, had bought QUANTITY of grain by DATE out of a targeted CARDINAL. DATE is peak buying time.",0
"Protectionist policies practised by a major NORP soybean producing province are keeping prices for the grain throughout the country artifically high, LOC traders said on DATE.
GPE, in GPE's far northeast, will not allow soybeans to leave the province in any but value-added form, a policy which traders said had been enforced for DATE.
""This means the bean price is being kept artificially low in GPE and artificially high in other provinces,"" a trader in GPE said.
Despite the recent arrival on the market of a soybean crop of CARDINAL, domestic prices had not fallen, trade and industry sources said.
GPE grows CARDINAL of GPE's DATE soybean crop.
Officials there confirmed to ORG in DATE that the ""policy of appropriate control"", which traders characterise as a ban on sale of beans outside the province, would stay in place.
The policy aimed to meet demand from local crushing mills, which crush the beans to produce oil and meal, an official said by telephone from the provincial capital of GPE.
But GPE's crushing industry is not concentrated in GPE, and traders said crushers in other regions were having to pay inflated prices for their raw material.
ORG ORG in GPE reported on DATE that grade CARDINAL beans in GPE were fetching MONEY (US$MONEY) a tonne.
By contrast, beans elsewhere were priced at MONEY a tonne.
Traders with western companies in the region agreed with these figures, saying beans smuggled out of GPE were commanding a hefty premium.
""Outside the province (GPE), there is a premium of CARDINAL or CARDINAL renminbi (yuan) a tonne for smuggling the beans,"" another trader said.
""There are road blocks in GPE to checks loads on trucks, people even use post office trucks to carry beans -- and they've been caught,"" he said.
""It is costing other provinces more money for beans.""
Another industry executive said the price of domestically produced soybean meal, used to make animal feed, had also remained high despite the recent soybean harvest.
""Prices for meal are not coming down, they are still CARDINAL to CARDINAL renminbi per tonne,"" he said, levels that have prevailed for DATE.
High soybean meal prices would in turn lead to high meat prices, the executive said, adding his organisation believed pork prices in GPE's coastal areas had risen PERCENT in DATE as a result.
This DATE's soybean crop had been expected to drop PERCENT on the DATE figure of QUANTITY, said traders who toured growing regions.
GPE's output was QUANTITY in DATE.
Traders and industry experts who visited the province in DATE put output there DATE at QUANTITY.
CARDINAL industry expert based in GPE said GPE's soybean supply shortfall would be QUANTITY in DATE.
GPE's total soybean imports for DATE should be QUANTITY, traders said.
(MONEY)
-- Hong Kong News Room (CARDINAL) 2843-6470","NORP building group ORG said on DATE it was exploring a possible investment in GPE's ORG electrical and construction businesses with the aim of widening its international exposure.
ORG said it had been in talks with ORG management about taking an unquantified minority stake which could be raised to a majority stake from the current parent group ORG.
If clinched, the deal would create a major NORP player with MONEY (MONEY) in sales, with PERCENT exposure in GPE, PERCENT in GPE and the rest worldwide.
PERSON, ORG's chief executive, told ORG: ""CARDINAL important concept is that there is little overlap between the CARDINAL groups.""
He admitted that ORG's possible greater exposure to GPE came as the market was suffering from very tough conditions but he said that ORG was ""buying at the bottom, not at the top"" and foresaw a turnaround.
The new deal could act as a springboard for ORG into new markets including oil and gas and pharmaceuticals and new regions including GPE, LOC and GPE, ORG said.
At PERCENT of its sales are in GPE.
ORG told ORG that the CARDINAL parties were at the due diligence stage and expected more details by DATE, with completion in DATE.
The initial stake will be funded from ORG's existing cash reserves and will give it access to ORG's international network of regional bases offering partnership opportunities on a cost-efficient basis.
The decision to raise the stake to a majority holding would be taken in ""a number of DATE time and I'm not talking one or DATE"".
ORG and ORG management envisage a possible flotation of the NORP operation.
""There will be negotiations between the management and us on how much we will retain and what to float. It will also depend on the state of the (stock) market at the time,"" the ORG chief said.
""I have been most impressed with ORG's management team and the progress they have made in revitalising ORG,"" he added.
Spie has CARDINAL employees and operates in CARDINAL locations. In its DATE results after restructuring it reported turnover of MONEY (MONEY) and an operating profit of MONEY. ($MONEY Pound) ($MONEY French Franc)",0
"GPE's breakaway ORG has ordained CARDINAL graduates of CARDINAL of the country's biggest seminaries into the priesthood DATE, clergy at the seminary said on DATE.
The new priests, CARDINAL of whom were ordained on DATE, were the ORDINAL group of clergymen installed by ORG since DATE, they said.
The officially authorised seminary in GPE did not accept any new students for DATE from DATE due to a lack of funds and space, the clergymen said.
""It's a big problem. Funds are too limited,"" a priest surnamed PERSON told ORG by telephone.
The seminary receives MONEY ($MONEY) DATE from the government, or CARDINAL of its DATE budget, another priest said. It raises the rest from donations.
Father PERSON, who graduated in DATE, said there was no shortage of youths, many of them poor, who wanted to become priests.
He and other priests denied that government pressure had played a role in the lack of new students DATE.
NORP in communist GPE are allowed to worship openly only if they belong to the state-sponsored ORG.
The association, which supervises the national seminary, appoints its own bishops and does not recognise the Pope as universal NORP leader.
The official church has the blessings of ORG but it too must walk a fine line between the demands of the party elite and the needs of the faithful.
The GPE-based ORG has said GPE has been stepping up harassment of unauthorised NORP and NORP groups in DATE.
The group said the crackdown on NORP included stricter controls on contacts with foreigners and was part of a broader drive begun in DATE against all forms of religion as well as political dissent.
Bishop Zong Huaide of the state-backed church ordained CARDINAL graduates of the seminary on DATE. PERSON delivered mass at ORG, built in DATE, which was packed with CARDINAL people.
GPE has CARDINAL seminaries and CARDINAL priests, CARDINAL of whom are state-anointed young men.
The official ORG in GPE counts CARDINAL members, while the underground church is believed to have CARDINAL members.
Vatican relations with GPE have alternately cooled and warmed over DATE since DATE, when links were severed over the FAC's recognition of GPE.
GPE has said it will not normalise relations until the FAC severs its ties with GPE, which GPE has regarded as a rebel province since the end of EVENT in DATE.
The FAC, on the other hand, has demanded recognition of the Pope's primacy before it renews ties with GPE.","GPE began the trial of prominent dissident and former student leader PERSON on DATE on the capital charge of plotting to overthrow the government, a court official said.
""The trial started at TIME (0100 ORG),"" said an official of ORG reached by telephone. He declined to give further details.
Security was tight around the court building in western GPE, with CARDINAL of police preventing the public from approaching the building and manning roadblocks to prevent access.
The father of the former student leader protested his son's innocence TIME before the start of the proceedings and said the family would not give in to the authorities.
""He is definitely innocent,"" PERSON told reporters as he left his home with the dissident's mother, PERSON, to go to the court. ""It just depends on whether the government wants to convict him or not.""
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.
""I'm not optimistic about the results,"" PERSON said. ""We will definitely appeal... We will not give in.
""Speech can't overthrow the government,"" he said.
The court indictment against ORG, DATE, includes the charge that his writings in foreign publications were evidence of his plot to try to overthrow the government.
He is also accused of accepting foreign funds, of colluding with subversives living overseas and of conspiring with domestic plotters to organise the overthrow of the government.
PERSON said on DATE she expected ORG to receive a harsh sentence although he would plead not guilty.
The former student leader faces a minimum DATE sentence and a maximum penalty of death.
The mother has said the dissident was calm and mentally prepared for a harsh sentence, although she has said his health had deteriorated since he vanished into detention in DATE.
She said court officials told her the verdict could be delivered as early as DATE or in DATE. Family members had been under surveillance for DATE, she added.
The GPE-based ORG said DATE the chances of acquittal were slim because ORG has not had adequate time to prepare a defence.
Human Rights Watch attacked the trial on DATE as a sign of the NORP leadership's increasing intolerance of dissent.
""The fact is that GPE's urban dissident movement...has in effect been comprehensively smashed,"" it said in a statement.
ORG's court appearance was expected to resemble the in-camera proceedings DATE against PERSON, regarded as the father of GPE's tiny, struggling democracy movement.
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 politically active again after his parole in DATE, defying police surveillance to join a daring appeal to communist leaders for the release of those still jailed 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.",1
"A GPE judge said on DATE that tobacco-company lawyers fighting a massive secondhand- smoking suit brought by sick flight attendants were unlikely to win separate trials for each of CARDINAL claims.
Tobacco-company lawyers arguing during an informal hearing in the run-up to a DATE class-action trial said lung cancer, cardiac ailments and CARDINAL other illnesses attributed by rival lawyers to secondhand smoke inhalation were too complicated to lump together in one trial.  
""There is no way a jury can be asked to weed out these complications,"" said ORG, an attorney for ORG, a unit of ORG.
Whiting and lawyers for other tobacco companies such as ORGamp; PERSON unit of ORG said each case was different and the connection between a malady and secondhand smoke would have to individually proven.
But ORG Judge PERSON said so many trials would be impossible to hold and he expects a CARDINAL-part trial process for the class-action suit brought by CARDINAL GPE lawyers to begin DATE.  
In the ORDINAL, a jury will determine whether or not tobacco companies conspired to keep evidence of dangers from secondhand smoke from the public and if scientific evidence is strong enough to legally blame the illnesses incurred by non-smoking flight attendants on the cigarette smoke they inhaled while working.
A ORDINAL trial will set money damages, if the tobacco companies lose in the ORDINAL. But he said that, while he had made no final decision, he believed the claims by the flight attendants could be grouped by category and be handled by just one jury.  
""There's no reason this trial cannot be tried by one jury,"" PERSON said.
The judge also said he was near deciding the particulars of a campaign to reach CARDINAL to CARDINAL GPE flight attendants who would be eligible for compensation if the class-action suit is lost by the tobacco industry.
Whiting pressed for a national media campaign, in addition to an agreed mailing to CARDINAL current and former flight attendants. He also proposed establishing a toll-free contact number. Such costs would be borne by the flight-attendants lawyers.
Flight-attendants attorneys PERSON and PERSON said such a campaign was wasteful and very expensive and that word-of-mouth spurred by the mail campaign would lift the number of people joining in the class-action suit.
The flight-attendants suit is CARDINAL of several high-stakes anti-tobacco suits scheduled to come to trial in GPE and elswhere in GPE during DATE. On DATE, another GPE judge overseeing a case brought by the ORG of GPE ruled tobacco companies can be sued under GPE's anti-racketeering law.
-- GPE newsroom CARDINAL.","The head of GPE's most popular cable television service said on DATE that NORP television will continue booming into DATE and that pan-regional advertising would shoot MONEY within DATE.
PERSON, chief executive of ORG, told an industry conference that cross-boarder advertising on NORP cable television and Direct-to-Home (ORG) was MONEY in DATE but was poised for spectacular growth as new ORG services penetrate LOC CARDINAL television households.  
""I really believe it will reach MONEY in DATE,"" ORG said.
Audiences for cable and ORG in NORP were affluent and younger than those in LOC, characteristics that should appeal to advertisers.
""This audience is younger and vibrant for consumer goods,"" she said.  
Some industry analysts and executives have questioned the appeal of pan-regional programming and advertising in LOC saying NORP and NORP and other national audiences have varying taste and a much more pronounced hunger for local programming.
ORG likened the state of multiple-channel television in LOC to DATE of GPE cable television in DATE, when advertisers shunned the new medium because audience measurements were crude or nonexistent.  
""We need a reliable, standardized amd pan-regional measuring system,"" she told an audience of entertainment industry executives at a conference sponsored by the ORG trade newspaper.
She also predicted that the governmental restrictions on ORG in some countries would melt away before the force of illegal satellite-dish sales and as taxing authorities realized that growing revenues streams were going untapped.  
According to ORG, a consulting group, cable television and ORG revenues in LOC will grow to MONEY by DATE. Industry revenues were MONEY DATE in LOC.
PERSON has also estimated that only a bit PERCENT of LOC television homes subscribe to some form of multiple-channel television. By contrast, multiple-channel television penetration in GPE is PERCENT.  
""LOC is one of the fastest growing and underdeveloped TV markets in the world,"" ORG said.
The expansion of ORG services by big international media ventures will be key in expanding pan-regional advertising, she said.  
CARDINAL NORP DTH service, called PRODUCT is owned by ORG of GPE, ORG of GPE, ORG and TVA Abril of GPE. Its main competitor is ORG, owned by multinational ORG, ORG of GPE, GPE's ORG of GPE.
""This is a market destine to grow, and grow it will,"" ORG said.
-- GPE, CARDINAL-374-5013.",1
"ORG said DATE it created a new position of chairman of its GPE operations, in a move analysts said was sparked by intense competition and soft sales from existing stores in the domestic market.
ORG's named PERSON, DATE, to the new post of chairman, ORG remains vice chairman of ORG, Ill.-based company, but will relinquish the chief financial officer post.
Greenberg will continue to report to PERSON, ORG chairman.
""The signal they are trying to send is, 'we clearly recognise that we have problems in the GPE and we are going to do something about it',"" ORG analyst PERSON said of PERSON's appointment.
Reflecting the mature and intensely competitive GPE market, analysts said they expected ORG's DATE same store sales will be down compared with DATE. Same store data measure sales from units open DATE.
""They have not had DATE in the GPE DATE,"" ORG said of its same store sales. ORG does not disclose its same store sales.
""Margins have been under pressure for DATE in the GPE,"" added Schroder ORG analyst PERSON.
PERSON's new post indicates that ORG was 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,"" he added.
The company has been introducing new offerings such as its ORG hamburger DATE and the recent launch of ORG, PERSON and ORG sandwiches.
ORG said PERSON's appointment was aimed at strengthening GPE management.
""While these changes are evolutionary, they will bring more management firepower where we need it, both for the short and long-term,"" PERSON said in a statement.
As part of the management changes, PERSON, ORG's GPE president, will report to PERSON. But PERSON was quick to say he and PERSON have a good working relationship.
""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.
International profit growth is expected to contribute to an expected PERCENT gain in earnings for ORG's overall in DATE, according to analyst estimates.
Given the intense competition between ORG, ORG and ORG.'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.
Greenberg, DATE, said he believed ORG was well positioned to compete in the domestic 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.
In other management moves, ORG also named PERSON, currently senior vice president and controller, as chief financial officer, succeeding PERSON.","Stiff competition and high ingredient costs will likely result in flat to lower earnings for several GPE food companies that will soon report DATE results.
ORG is expected to report flat earnings for DATE as its PRODUCT beverage line continues to be a drag on the company. ""We're looking for DATE and that will be once more due to the very heavy spending behind PRODUCT and probably a double-digit (volume) decline for PRODUCT,"" ORG analyst PERSON said.  
DATE, ORG said a new promotional campaign for PRODUCT, which included a nationwide sampling effort, came too late to reap any financial benefits for DATE. Snapple accounts for PERCENT of ORG's DATE sales.
Cereal giant ORG said recently it projects earnings for DATE will be PERCENT below DATE due to competitors' sales promotions.
Stiff competition in the cereal aisle is expected to result in a loss in DATE for ORG, which makes private label products.  
Lower profit margins, partly due to higher cattle costs, likely will result in a decline in DATE earnings for meat processor ORG, analysts said. ORG and NORP analyst PERSON said ORG's meat export sales are expected to be lower in DATE.
ORG is projected to report only a modest rise in its DATE earnings due to high corn prices that hurt its milling business, analysts said.
""If it weren't for the corn refining business, (CPC's) profits would be up a lot more,"" NORP ORG analyst PERSON said.  
Ghez of ORG said she expects a drop in grain prices will bring CPC back to double-digit earnings growth in DATE.
Also on the positive side, PERSON, a food and consumer products company with businesses from meat to pantyhose, is expected to report double-digit earnings growth for DATE. These results will reflect PERSON focus on higher margin products, ORG analyst PERSON said.
However, profit margins for PERSON packaged meats business were under pressure in DATE, added SBC GPE
analyst PERSON.
Company     Qtr   First Call Mean estimate  ORG EPS
CPC	   CARDINAL	     $MONEY a share	 $MONEY
ORG	   ORG$MONEY		   $0.88
Kellogg     ORG$MONEY		   $MONEY
ORG CARDINAL	     $0.46		   $MONEY
ORG     Q4     loss  MONEYprofit  $MONEY
PERSON    Q1	     $MONEY		   $MONEY
ORG Chicago PERSON",1
"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.
($1=.5950 Pound)","The story of NORP sounds like the daring fiction of a ORG movie -- with corporate giants from GPE, the 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 firms, joining the LOC and LOC in a deal which claims it can undercut the cost of land-based launchers including the NORP-led Ariane, recently embarrassed by a rocket explosion, and PERSON of the GPE..
The lead NORP investor is ORG of the GPE, holding PERCENT, with  ORG of GPE taking a PERCENT slice, GPE's PERSON with PERCENT and  ORG of the GPE holding PERCENT.
At a sneak preview in GPE on DATE, PERSON, NORP project manager from PERSON joked with NORP reporters that countries which had once built technology with the 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 sea-borne rocket launch platform and the command ship.
It rescued the FAC oil rig which exploded in a fireball just after the DATE FAC rig disaster.
Odyssey has since been stripped and reconstructed to become the floating rocket launcher which 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 will happen in DATE. The rig and command ship will travel from the base in GPE, GPE and travel to a site in LOC for blast off.
Satellites and rockets will be assembled on the ship for transfer to the platform which will be evacuated before lift-off.
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 blast-proof safety glass at a cost of QUANTITY a pane.
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 lift-off.
Asked about the risk of explosion PERSON says ""The risk of explosion is very much related to this business. But we think that risk is very low. There are in-built 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 take-off 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 GPE, 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 blast off. ($ = 0.600 British Pounds)",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 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 joint 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.
-- ORG CARDINAL-2 9373-1800","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 local bank 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 NORP government would allow the mergers.
Those seen as 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 current conservative ORG 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 that 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 compete globally, to obtain the benefits of new technology and to increase investment returns, the paper said.
It said it would consider, ""better accomodating financial conglomerates"" and ""relaxing some of the ownership restrictions on financial institutuions?""
The inquiry said it 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?""",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.
For DATE, securities underwriting was the exclusive purview of firms like ORGamp; Co. 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.","ORG, CARDINAL of the nation's primary regulators of derivatives, has no authority over most foreign currency transactions, ORG said DATE.
In a unanimous decision, the court ruled that a DATE law exempting some transactions in foreign currency from ORG oversight also exempted some foreign exchange derivatives, financial instruments whose value is based on the value of currencies like the dollar or NORP yen.
The ORG regulates trading of derivatives such as futures and options on everything from wheat and corn to interest rates and electricity. By law, such trading must occur on a recogized exchange, such as ORG or ORG.
But when ORG created the commission in DATE, it added an amendment permitting off-exchange trading in foreign currency and a few other items without ORG regulation. The amendment was requested by ORG, which believed that the developing market in foreign currency among large banks and securities firms would be overregulated by ORG oversight.
The ORG stayed away from the inter-bank foreign exchange market, which has grown to MONEY a day in total trading. The commission did, however, prosecute small-scale fraudulent foreign exchange investment peddlers, often called ""bucket shops.""
But when the ORG pursued PERSON, whose MONEY foreign currency fund lost MONEY in DATE, PERSON argued that the DATE ORG amendment should also apply to his trading of foreign exchange options.
On DATE, ORG agreed with the bulk of ORG's argument.
""We think it plain that foreign currency options are 'transactions in foreign currency' within the plain meaning of the statute,"" Justice PERSON wrote. ""We are not persuaded by any of the arguments advanced by the ORG in support of a narrower reading.""
That pleased banks and Wall Street trade groups, which had sided with ORG. They argued that subjecting their off-exchange foreign exchange trading to ORG oversight would be too costly, forcing them to shut down GPE operations and move overseas.
""We're obviously delighted at the result,"" said PERSON, an attorney for several of the trade groups.
""It supports our view that the amendment should be read broadly,"" PERSON, a former general counsel of the ORG added.
PERSON's lawyer and the banks suggested that any wrongdoing in the foreign exchange area could be dealt with under existing law by other federal agencies, but ORG did not address the issue. Most off-exchange derivatives trading is not directly regulated, although most participants in such markets are overseen by bank, securities and insurance regulators.
The ORG still has jurisdiction over foreign currency derivatives traded on an exchange, which include futures contracts. But that market is dwarfed by the over-the-counter market among banks and similiar institutions.
In a lower court case DATE, the ORG argued unsuccessfully that a fraudulent ""bucket shop"" constituted an exchange.
On DATE, the commission maintained that ORG had decided only the narrow issue of whether the ORG amendment covered options trading.
""While we are disappointed in the outcome of the case, we note that ORG opinion was limited to the narrow issue of whether the ORG amendment treats futures and options the same,"" ORG general counsel PERSON said. ""The court's decision does not affect the commission's ongoing efforts to police fraud against the public in foreign currency trading.""
ORG is already discussing amending the DATE ORG amendment. ORG decision ""underlines the need for ORG to make decisions about what financial products should or should not be subject to the ORG's jurisdiction,"" said PERSON, spokesman for ORG.
Sens. PERSON, R-GPE, PERSON, GPE., and PERSON, GPE, introduced a ORG bill to overhaul futures regulation. ""It makes the case to proceed with that bill as quickly as we can,"" Fisher said.
The court invited congressional action. Recognising an ""important public policy dispute"" underlying the case, the court suggested ""these arguments are addressed to the ORG, not the courts.""",1
"Brewer to leisure group PERSON is expected to report a strong improvement in DATE earnings on DATE, driven by growth at ORG and its chain of ORG restaurants.
""The company will benefit from DATE on its acquisition of ORG, DATE of sales in GPE's and PERSON and DATE from WORK_OF_ART',"" said BZW analyst PERSON. PERSON bought the PERSON chain of CARDINAL pubs for CARDINAL stg from Forte in DATE.  
Analysts forecasts for pre-tax profits range from CARDINAL to CARDINAL stg, up from CARDINAL stg in DATE. A dividend of CARDINAL is anticipated. The tight profits range bears testimony to the full and detailed trading statement the company announced in DATE, covering DATE.
Chairman Sir PERSON said at the time revenue per available room in the GPE franchised hotels increased by PERCENT. Analysts expect revenue per available room to show an increase of PERCENT in LOC at DATE.  
""The growth will come from hotels, up PERCENT and pubs up PERCENT,"" said ORG analyst PERSON.
Analysts expect profits from ORG to come in at CARDINAL stg up from CARDINAL DATE. The pubs division, which includes PERSON, is anticipated to show trading profits of CARDINAL up from CARDINAL.
However, trading profit from the leisure division is expected to be down CARDINAL at CARDINAL because of the impact of the national lottery and scratch cards on admissions at Gala, PERSON owned traditional bingo clubs.  
But betting shops ORG, also part of the company's leisure division, are likely to see the benefit of government changes in DATE that allowed betting shop operators to have CARDINAL QUANTITY all-cash AWPs on the premises.
The company's brewing business should report a near CARDINAL stg increase in operating profit to CARDINAL, helped along by strong sales in the markets leading alcopop PERSON and creamy ale PERSON's.
Profits from the soft drinks division, which includes PERSON, should also be slightly higher -- some analysts predict by PERCENT up at CARDINAL -- as a result of the acquisition of ORG' soft drinks business.
PERSON shares closed DATE down at CARDINAL-1/2p on DATE as talk surfaced that its proposed CARDINAL stg acquisition of ORG would only be allowed through with tough conditions imposed by government.
-- GPE PRODUCT +44 CARDINAL 6437","GPE's infant mutual funds industry is poised for rapid growth with far-reaching consequences for the country's financial markets and economy, a mutual funds conference in GPE was told on DATE.
""There is enormous potential for change,"" PERSON, LOC managing director for the mutual funds services firm ORG, told fund management experts.
The adoption of a Capital Markets Law DATE paved the way for the creation of open-ended mutual funds in GPE, which, until recently, offered CARDINAL closed-end fund.
""These are sweeping changes which, if successful, could change the savings profile of the country, deepen the secondary market significantly and have a profound effect on the banking and mutual funds industries,"" Booth said.
GPE's population of CARDINAL people, combined with the forecast economic growth rate of PERCENT DATE and a high savings rate typical of most NORP nations, promise lucrative returns to mutual fund trailblazers, he said.
CARDINAL open-ended mutual funds, or ""reksa dana,"" have been established so far with a value of MONEY, and CARDINAL more are in the pipeline.
Most, however, will focus on fixed income instruments rather that equities because of high-yielding bank deposits and uneven returns from GPE's illiquid stock market, where CARDINAL large stocks account for PERCENT of volume and foreign investors account for PERCENT of trading value.
""Obviously, equity markets are more volatile, and if people invest in them initially and they have a bad experience, it could harm the industry,"" Booth said.
He declined to predict how long it would take for mutual funds to boost liquidity on ORG. But exchange director PERSON suggested a guaranteed return to ORDINAL-time mutual fund investors would speed up the development of a domestic funds industry and, hence, market efficiency.
""If we are to produce a domestic investor base, this would be something of a short-cut,"" PERSON said. ""If we rely on education it will take DATE. The best pull is to experience an immediate capital gain.""
PERSON noted a guaranteed return was successfully used by GPE, which has set up CARDINAL state funds in an attempt to even out socio-economic disparities. GPE has a domestic investor base of CARDINAL compared with GPE's tiny base of under CARDINAL, or PERCENT of the population.
PERSON said GPE was unlikely to follow precisely the same model, adding that the country has an upper class of CARDINAL households with an average of CARDINAL rupiah in savings per year. However, surveys have shown a very low awareness of mutual funds within this group.
She added that while GPE's potential as a mutual fund investing nation remains spectacular, the stock exchange faces a substantial hurdle in education: PERCENT of the population knows what a stock exchange is.
DST's Booth said the stock exchange and financial market regulators would also have to work hard to enhance transparency.",0
"Shares in ORG (BSkyB) rose strongly on DATE after the pay television operator cleared a key regulatory hurdle and amid reports it planned to push ahead and launch digital services in GPE DATE.
BSkyB shares added CARDINAL to CARDINAL-1/2p by TIME, reversing a downward pattern which has seen them shed QUANTITY ($MONEY) since DATE.
The rise was fuelled by an announcement from GPE's ORG (OFT) that it had accepted PERSON's new terms for the supply of its channels to cable operators.
The stock had earlier been boosted by a report in ORG that GPE, PERCENT owned by PERSON ORG, was poised to order the set-top boxes required to receive its digital satellite services.
""The news flow has been positive and some funds which are underweight in BSkyB have been taking the opportunity to buy,"" said PERSON of broker Panmure PERSON, commenting on the price rise.
However, he injected a note of caution.
""We still have to see the performance for dish sales in the run-up to DATE. The decision to push ahead with digital may be partly a reflection of weaker analogue sales,"" he added.
The ORG approved PERSON's revised ""rate card"" -- setting out the pricing and structure for the supply of satellite channels to cable operators.
""The changes increase the flexibility of cable operators in marketing their services,"" OFT Director General PERSON said in a statement.
But the cable industry criticised the decision and vowed to continue its fight. CARDINAL option is to take the issue to ORG.
""We fail to see how DATE's announcement is in the consumers' interest,"" ORG said in a statement.
BSkyB, which supplies a diet of top-quality sport and GPE movies, has CARDINAL subscribers -- CARDINAL receiving the service via a satellite dish and CARDINAL on cable.
BSkyB's shares have fallen from highs in DATE because of regulatory concerns in GPE and worries over the apparent slow take-up of the digital services of GPE's PRODUCT, in which ORG are partners.
BSkyB has announced plans to launch digital satellite services supplying some CARDINAL channels into GPE DATE but recent reports had suggested that it could delay the launch.
But ORG quoted PERSON as saying that BSkyB will go ahead with a decoder box concentrating on new channels plus pay-per-view sport and films. A decoder offering access to interactive services such as home shopping would follow later.
""Now I think we will go with a straight simple box and have a ORDINAL-generation box DATE. How many people really want to do home shopping and banking on their television sets or buy things, we don't know yet,"" PERSON was quoted as saying.
($MONEY Pound)","ORG steel division expects to increase its earnings in the current DATE due to lower costs and improved operations, ORG chief executive PERSON told ORG on DATE.
But ORG sees no major improvement in its home NORP market until possibly DATE, and expects the world steel market to pick up towards the end of the first half of DATE, McNeilly said.  
Asked if BHP PRODUCT profit for DATE would be higher than the division's CARDINAL profit, he said: ""Oh yeah, yeah, but as I said we don't make any forecasts.""
McNeilly declined to give a forecast for CARDINAL profits but said improvements would be driven by lower costs.
""If there's going to be an improvement in our results -- and I am confident there will be -- it will be an improvement that's driven I think in the near term by better operations and lower costs rather than a market-driven improvement in the short term,"" he added.  
ORG reported a PERCENT slump in profit to MONEY before abnormals in CARDINAL. Its bottom line sunk PERCENT to MONEY after a MONEY write-down of the value of its GPE raw steel-making plant in GPE.
McNeilly said he expected steel markets in GPE and abroad to pick around DATE, as the domestic economy improved and world steel demand, especially in LOC, fed through into a recovery in depressed world steel prices.
""I don't really see any significant improvement in the NORP scene until sort of maybe DATE -- so quite flat,"" he said.  
McNeilly described domestic demand as very patchy.
""There are some signs of improved demand in the resource and infrastructure areas but no sign of any improvement whatsoever in domestic housing, in most of the rural sector and in general demand, so it really is quite flat,"" he said.
ORG's export despatches of steel have been increasing, but an intensely competitive steel market has weighed on prices.
McNeilly quoted ORG (IISI) forecasts for strong world steel consumption over DATE and said prices should strengthen between DATE and DATE.  
""I think we will see towards the end of the first half of next calendar year, towards DATE, an improvement in demand and prices in LOC and likewise GPE,"" he said.
""But I do think that from now until then, what we see now will be generally the situation.""
The ORG forecasts world steel consumption to grow at PERCENT DATE to QUANTITY in DATE, with most of this growth coming from LOC.  
""We are not seeing any improvement that's market derived and I don't think there'll be any improvement that's market derived over DATE,"" he said.
ORG major new projects around the world are still being built and will not boost the division's profit until after CARDINAL, he said.
""We won't see any major inflow of profitability from new projects, really until DATE), which is DATE,"" McNeilly said.  
He declined to comment on speculation ORG is considering closing its old, integrated raw steel-making plant at GPE, rather than investing in a new electric-arc furnace there.
McNeilly said ORG's PERSON steel mill in GPE, also now under the spotlight, must slash MONEY from its cost base. ""It absolutely has to happen,"" he said.
He said was encouraged by the resolve ""of all those involved"" at the QUANTITY plant to cut costs.
""But if we have sites that don't and won't and can't, and tired assets that can't be rejuvenated, we have to bite the bullet and do the obvious.""  -- GPE bureau CARDINAL",0
"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, cancelled or converted.
For example, ORG's total is comprised mainly of firm orders, but the manufacturer also included its massive MONEY order from 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 travelled 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.","ORG planned MONEY acquisition of ORG will propel it to a leading position as a military contractor, matching its stature as the world leader in commercial aviation.
While LOC's ORG is likely to feel competitive pressure because of ORG's increased resources, industry analysts said the chief benefits for ORG would be on the military side.
""PERSON 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 defence and space business.
And it comes DATE after ORG 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 the crucial programme, said PERSON of JSA Securities.
Analyst PERSON of ORG said the loss of the joint strike fighter was the crowning blow for ORG, which already had 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 programmes,"" 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 the stock'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 minimised and the companies have DATE to rationalise 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.""
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.
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.
And analysts said they thought the deal would win approval from the ORG, which has encouraged industry consolidation and backed the deal that created No. CARDINAL defence 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 if the deal goes through.",1
"ORG on DATE reported a drop of PERCENT in DATE profits as its cereal volume dropped in an intensely competitive market.
Kellogg, which makes PERSON, PERSON, PERSON, ORG and Special-K, is fighting back, launching marketing plans for DATE that are aimed at boosting its sales.
""We'll be taking what we believe are appropriate actions,"" ORG spokesman PERSON said.
The company, the world's biggest maker of ready-to-eat breakfast cereals, said its net income for DATE fell to MONEY, including a MONEY charge, from MONEY DATE. On a per share basis, ORG's earnings dropped PERCENT to MONEY, with fewer shares outstanding, from $MONEY DATE.
ORG said its overall sales slipped PERCENT to MONEY from MONEY as continued weak prices for breakfast cereals offset a PERCENT gain in worldwide sales volume.
""As previously forecast, DATE performance was influenced significantly by competitive conditions in the GPE cereal category,"" ORG Chairman PERSON said in a statement.
Analysts estimate that ORG's domestic cereal sales volume fell PERCENT in DATE.
""We can't detail it. It was DATE in the GPE and our volume was down,"" PERSON added.
ORG said its DATE earnings likely will show a slight rise from the MONEY it earned DATE. DATE earnings, however, may not match the MONEY earned in DATE period.
""It's a challenging comparison,"" PERSON said.
ORG's stock fell on concern over GPE cereal sales volume and the outlook for earnings, dropping $MONEY at $MONEY a share, on ORG. Earlier, it set a new DATE low of $MONEY.
ORG said the GPE cereal market overall was sluggish, with sales growing PERCENT, measuring grocery stores, mass merchandisers and all other outlets.
Looking ahead, ORG refused to outline what promotional programmes it was planning for DATE.
Analysts said they did not expect LOC, DATE cereal giant to return to deep-discount coupons or buy-one, get-CARDINAL-free promotional giveaways.
""It's sort of left to speculation what they're going to do,"" SBC GPE analyst PERSON said.
""There is no indication that, at this time, they have shifted from their long-term strategic goal, which is to reduce inefficient promotions,"" added ORG analyst PERSON.
Kellogg reduced prices on CARDINAL of its breakfast cereals in DATE. Other major manufacturers also cut prices DATE as they battled for market share and tried to jump-start consumer purchases.
But those price cuts alone apparently were not enough to jump-start consumer purchases, according to ORG analyst PERSON.
""The message there is that prices have to come down further,"" PERSON said.
According to ORG data, GPE ready-to-eat cereal sales in grocery stores fell PERCENT to MONEY for DATE, according to the most recent data available, compared with DATE.
ORG's sales volume declined in that period by PERCENT to MONEY for a market share of PERCENT, ORG said.","Former Archer Daniels Midland Co executive PERSON, who acted as an informant in an antitrust case against the company, on DATE filed suit against ORG seeking back wages and punitive damages.
In a suit filed in GPE ORG for LOC 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 suit 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 suit, ORG seeks a judgment against ORG of MONEY and punitive damages of MONEY. Potential damages, if awarded, could be much greater, perhaps in the tens of millions, sources close to the case said.  
In DATE, PERSON had said he planned to file an MONEY wrongful discharge suit against ORG.
Legal experts said it is common practice in suits to seek damages above or MONEY.
ADM did not respond to requests for comment on the suit.
In his suit, 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 suit, PERSON charges ORG with denying him the right to exercise company stock options, defamation of his character and mental and emotional distress.
PERSON has admitted to trying to kill himself DATE after his role as an ORG mole became known.
He also claimed that he was forced to sell his home in the GPE, GPE, area for MONEY, even though it had been recently appraised for MONEY. PERSON also said in the suit he had invested MONEY on the home.
PERSON is now a resident of GPE, GPE
PERSON's attorneys, PERSON of ORGamp; ORG, GPE, and PERSON of GPE, GPE, were not immediately available for 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 for comment.
ORG Chicago Newsdesk (CARDINAL) DATE",1
"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.
""Several points remain outstanding,"" said ORG spokesman PERSON. ""An overall deal has not been reached.""
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.""
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.","Jilted once, financial software company ORG appears unlikely to return to the merger altar any time soon.
Buyout speculation has swirled around ORG since DATE, when ORG dumped its plans to buy the maker of popular personal finance software like PERSON and ORG. DATE, ORG shares surged again on speculation ORG was about to make an offer.  
However, many industry analysts believe such a deal is not in ORG's future, adding the best way for ORG to grow is to attract as many partners as it can to set up online banking services.
""My personal belief is that ORG is best able to maximize its value on its own,"" said PERSON, an analyst at PERSON.
ORG's key asset is PERSON, a program that helps computer users track checkbook balances, check stock portfolios, pay bills, plan DATE budgets and lay out retirement plans.  
The company depends on partnerships with CARDINAL of banks and brokerages to provide online links between customers' personal computers and their accounts.
Intuit would turn off most of its partners if it were acquired by a big financial partner, PERSON, ORG's chairman, insists.
""We would never become a captive of CARDINAL financial institution or a small group of financial institutions,"" PERSON told a group of investors in GPE on DATE.  
Still, some analysts questioned whether ORG has the marketing and financial muscle to compete on its own against ORG for long.
ORG, the world's biggest personal computer software company, is spending a big chunk of its MONEY research and development budget on financial software and online banking services provided through the Internet.
Although ORG still controls PERCENT of the market for personal financial software, ORG is gaining.  
Intuit also needs capital to expand into new area, such as giving online investment advice, said PERSON, an analyst at ORG, a market researcher. Such forays will likely hurt profits, she said.
""They might get dinged on their stock price, but this area is more in line with the consumer marketing business model they have,"" Epper said.
It could be DATE, however, before ORG's push into new areas could pay off, PERSON said.
Intuit said in DATE it expects lower revenue growth in DATE.  
The company blamed a slow market for consumer software. Some of the shortfall is because of CARDINAL-time suitor ORG, analysts said.
In DATE, ORG stunned Wall Street by offering to buy ORG for MONEY, the biggest acquisition attempt in the software industry at the time.
ORG was willing to pay that huge sum to turn PERSON into a gateway for online banking services, an industry that's expected to rival brick-and-mortar retail banking in revenue in DATE.  
ORG backed out of the deal in DATE, however, when ORG said it would sue ORG on antitrust grounds if it pursued the transaction.
Since then, ORG has spent CARDINAL beefing up its rival ORG financial management program. The company also set up a division to sell networking and Internet software to banks.
To counter ORG's redoubled efforts, ORG set up a business to process online transactions -- such as bill payments and account transfers -- between banks and depositors. Some investors saw the unit, ORG, as a promising source of revenue.
In DATE, however, ORG sold the unit to rival ORG, partly because it did not have the expertise to handle huge volumes of transactions.
Banks also were reluctant to have ORG sit between them and their depositors, PERSON said. Most banks preferred to reach their customers through the Internet instead of ORG's proprietary network.
""Intuit is staring down the barrel of a gun, and that gun is the Internet, which is making financial management easier,"" Epper said.
It could be a while before ORG outlines a new strategy for growing its business, analysts said.
Meanwhile, there may be more bouts of wishful thinking about an acquisition, they said.",0
"ORG proposed DATE to trim the MONEY a year that long-distance telephone companies pay to local service providers in access fees.
But the commission ducked the contentious issue of whether such charges should be imposed on Internet service providers, asking for comment on the issue without offering any proposals.
In a notice of proposed rule-making, the commission said it could cut the access fees in either of CARDINAL ways: it could impose a schedule of long-distance access charge reductions or wait to allow market forces to drive fees lower.
The access charges, which make up a substantial portion of local phone company revenues, were adopted after the break-up of ORG in DATE that led to the creation of the regional ""WORK_OF_ART"" local service companies.
New telecommunications rules signed into law in DATE are supposted to foster more competition for local and long-distance service and drive prices lower.
Long-distance companies, which say the access fees are excessive, favour deep, government-mandated cuts.
""We recommend the ORG to move as quickly as possible to squeeze the MONEY in excess access fees out of the local exchange industry and put it back in the pockets of consumers,"" ORG said in a statement.
Local phone companies concede that the fees exceed their actual costs for carrying long-distance calls but would prefer a gradual reduction based on competition and market forces.
The ORG ""must not allow the long-distance companies to continue to benefit at the expense of consumers,"" said PERSON, president of ORG, which represents local service providers.
While local providers have already cut access fees by MONEY, ""the long-distance oligopoly has raised rates in lockstep CARDINAL times,"" he said.
Under the ORG's market-based approach, new entrants in the local market would compete with ORG to connect long-distance calls. The ORG would gradually relax and ultimately remove price caps and access fee schedules while relying on competition to drive the fees down.
The alternate approach would specify the nature and timing of changes in existing rate levels. Ultimately, the ORG said it could adopt parts of both approaches.
Local phone companies also connect Internet users to Internet service providers over local phone lines, but they receive no access charges for those calls.
Recently, several PERSON complained that Internet users were getting a free ride, tying up local lines with often lengthy calls.
The ORG did not take a position on whether Internet service providers should be required to pay access fees. In a less formal ""notice of inquiry,"" the agency asked for comment on possible reform ""relating to interstate information services and the Internet.""
Comments are due by DATE on the long-distance access fee proposals and by DATE on the Internet issue.","The PERSON administration will modestly revise controversial export rules for computer encoding technology after a private meeting DATE with computer and telecommunications companies, a top ORG official said.
""This is a work in progress,"" Under Secretary of ORG PERSON said in a telephone interview after TIME long meeting. ""There will be some changes that will be more than technical.""  
The administration circulated a draft DATE of new rules that would overhaul EVENT era export limits on products containing encryption, computer programs that scramble information and render it unreadable without a password or software ""key.""
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.
Reinsch and others who attended DATE's meeting said the tone was civil.  
""We had a long meeting but it was actually quite a constructive one and actually also a polite one,"" PERSON said.
Industry officials argued at the meeting that the draft rules were unclear or unworkable on a number of points.
""In some cases we could tell them what we meant which made them feel better and now we'll go off and try to fix it,"" Reinsch acknowledged. ""In other cases we're going to have to think a little more about what they said and in some cases I'm not sure there is a way to fix it.""  
""We are not optimistic that these (rules) will be turned around and we feel going to ORG is our only option,"" PERSON said. The alliance includes a CARDINAL large software firms including ORG and ORG ORG.
Several bills that would dramatically ease encryption export limits were introduced in the last ORG and are expected to be revived DATE.
Ambassador PERSON, appointed by President PERSON as special envoy for cryptography DATE, also attended the meeting, PERSON said.
The draft rules implement an executive order signed by President PERSON DATE. Under the order, limits on export of products containing strong encryption would be eased if the products allowed the government to decode encrypted messages by recovering the keys.
The draft rules detail for the ORDINAL time the government's definition of acceptable key recovery features and other aspects of the revised export approval process.
For example, until DATE, companies will be allowed to export some products that do not include key recovery if the companies promise to include key recovery in future products. -- CARDINAL-898-8312",1
"ORG, the investment banking arm of ORG, on DATE named PERSON as the man to run its expanding operations but other questions over the bank's strategy remained, analysts said.
ORG said PERSON, who currently runs its NORP operations, would take over as chief operating officer of the investment bank, reporting to chief executive PERSON.
At the same time, ORG said it would streamline origination and distribution functions into CARDINAL ORG division from the current capital markets and treasury divisions.
ORG said no job losses would result from the consolidation.
The bank has been on the acquisition trail recently, buying corporate finance boutique PRODUCT in DATE, spending MONEY on GPE primary dealer ORG and MONEY on Gartmore, the NORP fund manager. It also acquired GPE merger and acquisitions specialist Gleacher for MONEY.
But analysts have expressed concern that ORG will find it difficult to bring these all together, despite the fact that the businesses seem to compliment each other.
Some feel that ORG is spending large amounts of cash on buying businesses that could be near the top of their business cycle.
""The ORG markets business is robust and it can make returns while it is still building,"" said CARDINAL analyst. ""But a revenue downturn will tend to hit the players who are building rather than those who are already established.""
Currently, investment banks are enjoying generally the low-inflation, steady growth conditions seen in many major economies with an accompanying healthy amount of mergers and acquisitions activity.
But a substantial downturn on Wall Street, predicted by many strategists, could leave some high-cost acquisitions looking a little less appetizing, analysts say.
PERSON said the fast growth of ORG markets, both organically and by acquisition, had led him to the conclusion that the day-to-day operational management should be separated from strategy, client development and financial supervision.
""As President and ORG, PERSON will be charged with implementing our operational plan, leaving me more time to work with global product heads to shape our strategies,"" PERSON said.
Analysts were happy that ORG had brought an insider to the job.
""Sometimes it gets difficult to keep continuity and things can start to fall apart,"" said CARDINAL analyst. ""I would class this appointment as continuity, so that's good.""","GPE's largest mortgage lender, ORG, said DATE its planned initial public offering 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.""
The mutually-owned ORG, with assets of MONEY (MONEY), said flotation adviser ORG had estimated a share price of CARDINAL and MONEY ($MONEY to $MONEY) per share if the IPO had taken place on DATE.
This equals a market worth of MONEY (MONEY) and MONEY (MONEY), and analysts expect the final outcome to be at the top end of this range given the recent positive performance of the most comparable stock in the market, former mortgage banker ORG.
""The valuation of MONEY (pounds) is right in line with our expectations,"" said PERSON, banking analyst at ORG.
Other analysts agreed and many expect the price on DATE to be higher, saying that DATE's figures looked a little conservative.
The ORG said each qualifying member will receive a basic allocation of CARDINAL shares in a flotation of CARDINAL shares.
The ORG has CARDINAL investing members and CARDINAL borrowing members. Of these, there is an overlap CARDINAL, which means that the ORG is sending out a total of CARDINAL voting packs.
Investing members will also get a variable share allocation depending on how much money they had in their accounts on particular dates. This will range from CARDINAL shares to a maximum of CARDINAL for those with MONEY ($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 GPE's position as GPE's ORDINAL-largest publicly-owned 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 said. ""That's a very wide area, both on the borrowing side and, increasingly, on the savings side -- traditional savings and long-term savings.""",1
"The NORP government DATE may sidestep congressional stalling and use special powers to force through stiffer anti-drug laws, ORG Minister PERSON said.
In comments to local media over DATE, he also called for the draft laws -- which include confiscating drug barons' ill-gotten gains -- to be retroactive, applying to traffickers already jailed.
The retroactivity issue has sparked controversy in parallel moves to end GPE's constitutional ban on extradition, currently under debate in the senate.
Former justice minister PERSON believes lawmakers may welcome the decree since it would remove them from the line of fire in any violent backlash by drug traffickers.
""If we don't do something soon then it could be too late. If congress does not make headway on the confiscation (of drug traffickers' property) then I will be looking for the faculty to introduce the legal measures,"" PERSON told the conservative ORG newspaper.
President PERSON submitted the tougher anti-drug proposals to congress in DATE with a firm eye on winning back GPE certification as an ally in the drugs war, which was withdrawn in DATE. He has sent repeated requests to legislators to speed up debate, but sessions continue to be dogged by lengthy political wrangling and poor attendance, which has left committees without a quorum.
If the congress fails to pass the measures, the government is expected to announce a decision by DATE to introduce the new anti-drug laws by decree. But political and legal analysts say the move could raise constitutional issues about whether the government has the right to override congress.
""The government wants to legislate by decree because it fears decertification by GPE again DATE, which could spark a fresh crisis which it may not recover from,"" PERSON said in a telephone interview.
""It may be a relief to many congressmen who have links with drug traffickers because there are real signs that the cartels are once again preparing to unleash a new war.""
In DATE and DATE, the late Pablo Escobar, head of the once-mighty GPE drug cartel, waged a war of bombings, assassinations and kidnaps against the state in a successful bid to get extradition banned.
The specter of a similar terror campaign is again looming after a series of bombings in recents DATE, including CARDINAL defused by police which had been planted by the so-called ORG in the centre of GPE.","The CARDINAL staff of ailing NORP regional airline ORG, which is under bankruptcy protection, published a full-page newspaper advert on DATE demanding that they be shown takeover bids made to the administrators.
""How is it possible that a company which has been fighting with success for DATE to improve the quality of air transport could disappear DATE,"" staff said in an ""open letter"" advert in the ORG du ORG main NORP DATE paper.
ORG, PERSON GPE-based ORG, a consortium headed by ORG chairman PERSON, and commercial pilot PERSON have made offers for ORG.
The commercial court of ORG, a southeastern GPE suburb, is expected to decide DATE which of the options will be pursued. ORG went into administration on DATE with debts of MONEY.
In an ad paid for by the airline's works council, staff of ORG blamed the NORP authorities for much of the companies' woes.
""By multiplying the obstacles to its development -- difficulties to obtain slots, difficulties to get ground handling services equal to those of the state airline (ORG /Air Inter ) -- the public authorities have pushed ORG into a dead-end,"" the advert read.
They also blamed certain ORG shareholders for ""abandoning"" the company at the eve of a recapitalisation and said they feared the final solution would be liquidation.
""We staff of ORG, we cannot accept anymore to lose our jobs, put our families in distress nor to interrupt the service we have to give to passengers,"" the advert said.
The ad said the staff wanted to see the bids made for the company and were ready to take on responsibilities.
Ousted chairman and founder ORG had been preparing a TIME capital increase in which staff would put DATE pay into the company.
""DATE, some people seem to wish the liquidation of ORG rather than the arrival of a NORP company. Who has interest in seeing the return of a monopoly?,"" the ad asked.
ORG plans to pay MONEY for ORG and aims to merge it with its NORP ORG unit. The NORP airline said on 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 are open to competition ahead of full liberalistaion in DATE. ORG and other regional group ORG have been fighting to take market share from former monopolist ORG.
PERSON, also chairman of smaller airline ORG, counts the PERSON bank, travel group PERSON and ORG in his consortium.
GPE has not given financial details but he plans to merge ORG with ORG, which is for sale.
The PERSON bank, a very secretive and influential financial group, is headed since DATE by entrepreneur PERSON and the bank is close to the ruling RPR party.
The ORG newspaper said DATE Prime Minister PERSON was pushing for a domestic buyer for ORG.",0
"CARDINAL people insured with NORP life office ORG have rushed to buy shares in the group in what the insurer said on DATE was a ""fabulous"" start to its stock market debut.
National Mutual, which plans to list on the NORP and GPE exchanges DATE, announced on DATE that CARDINAL of its CARDINAL policy-holders had elected to take up their entitlement to shares in the multi-billion-dollar float.
""ORG will have the largest shareholder base of any company in GPE and GPE ... it's a fabulous result,"" National Mutual managing director PERSON told reporters and insurance analysts in GPE.
Tomlinson also set an offer price of A$MONEY (US$MONEY) per share for retail investors and indicated a price range of MONEY for institutional investors, which will bid for PERCENT of the shares on public sale.
Once listed on the NORP bourse, ORG will figure in the top CARDINAL companies by market capitalisation.
The retail price of A$MONEY a share translates to a market capitalisation of MONEY (MONEY).
""This excellent response to the offer by our policy-holders has demonstrated a vote of confidence in ORG and our strategy for the future,"" PERSON said.
National Mutual, the ORDINAL big NORP life insurer to demutualise and destined also to be the ORDINAL major life office to list on the NORP market, is floating its shares partly in a bid to become a global player focused on LOC.
ORG is already the ORDINAL-biggest life office in GPE and is lobbying for a licence to operate in GPE, the group has said.
ORG will be owned PERCENT on listing by NORP insurance giant ORG. The float will help National Mutual become ""a member of a truly global financial services group"", PERSON said on DATE.
Joint lead manager for the issue, brokerage ORGamp; Son, said the strong demand for shares by policy-holders should ensure good demand from institutional investors.
""I think there will be pretty keen competition for it,"" said PERSON group managing director PERSON.
""There's plenty of NORP interest but as far as we can tell, there's plenty of interest in the (United) GPE and LOC as well,"" he told reporters in GPE.
Tomlinson and other ORG executives will leave GPE DATE for a DATE roadshow of LOC, LOC and GPE to sell the offer to institutions.
Under the float, retail investors will be offered a refund if the final institutional price is below A$MONEY, but they will pay no more if the final price exceeds A$MONEY.
""Given the high policy-holder take-up (of shares), it then gives us more confidence ... that at the price of A$MONEY, we were pitching at the right level,"" said PERSON, head of stockbroking at joint lead manager ORG
Insurance analysts predicted on DATE the demand from policy-holders would help to ensure the final price determined by institutional bidding would fall in the upper end of the group's indicative price range.
""That will boost the price just because of the supply and demand situation,"" a GPE-based analyst told ORG.
""I think it (the institutional price range) is a realistic price,"" insurance analyst PERSON of brokerage BZW Australia, told ORG.
The offer prices compare with a net tangible asset backing for the group of A$MONEY per share and an appraisal value, accounting for future profits, of A$MONEY per share.
(MONEYUS$MONEY)","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 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 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.",1
"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 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","GPE has approved CARDINAL foreign banks to do local currency business, the official ORG newspaper reported on DATE, but bankers said deals could not start until a thorny tax rate issue was solved.
The newspaper said the CARDINAL banks are ORG, GPE-ORG and ORGamp; ORG and that they would be granted licences to handle NORP yuan business DATE.
Up to now, foreign banks with branches in GPE have been restricted to doing foreign currency business only, with the 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 from DATE.
Bankers have said they expect the business licences to restrict them only to taking deposits from and making loans to foreign-funded firms for the foreseeable future.
The deputy governor of ORG, PERSON, said on DATE that GPE would grant licences for foreign banks to conduct local currency renminbi (yuan) business ""very soon"".
""We will very soon introduce foreign banks into the renminbi business in GPE,"" he told reporters after a ORG conference. ""We will announce that very soon. It is a matter of DATE not weeks,"" PERSON said.
He declined to say how many licences would be granted.
An official with CARDINAL of the CARDINAL chosen 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.""
The ORG newspaper said the CARDINAL banks chosen to begin local currency business all had registered branches in GPE to the east of GPE's city centre.
Officials had long said that only banks with GPE branches would be considered for the licences.",0
"A stronger showing by Prime Minister PERSON's rightwing 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.","PERSON, the bus to rail operator which has seen its shareprice double in DATE, said on DATE it expected ongoing progress in dividend growth after reporting record profits of CARDINAL stg.
PERSON, finance director, told ORG ""We expect ongoing progress in DATE dividend,"" even after raising the interim payout by PERCENT to MONEY. But he pointed out that the ORDINAL dividend reflected the CARDINAL stg profit from the sale of its stake in ORG.",0
"Shares of food and beverage giant ORG rose sharply DATE on rumors that it could be a takeover target of ORG
Industry experts flatly dismissed the rumor, saying a pricetag on any potential transaction would be an astounding $60 to MONEY.
Instead, they said the rumor, just the latest to surface about NORP in DATE, underscores widespread dissatisfaction about the company's outlook.  
""I don't ever say no to anything, but I think this is a farfetched rumor,"" said PERSON of ORG.
Officials from ORG and ORG declined to comment on the rumor, citing company policy.
But shares of ORG, which have been active recently, jumped CARDINAL to CARDINAL and ORG gained CARDINAL to CARDINAL. Wall Street rumblings began DATE and the rumor picked up steam after a DATE report in ORG.  
ORG cited a rumor on Wall Street that ORG would offer $MONEY a share for ORG.
The speculation of a deal with ORG comes DATE after ORG announced a major plan to pull out of weak international beverage markets.
The restructuring, which called for a charge of MONEY against earnings, also included cost-cutting targets and continued focus on its ORG snack food unit.  
But Wall Street is disappointed with the company's indecision about its casual restaurant business, which has performed below expectations. ORG said it is reviewing those operations and analysts widely expect the company to eventually sell the business.
In the meantime, earnings growth will rest heavily on the strong ORG division.  
""In DATE, a large (part of NORP earnings) is going to be riding on the shoulders of ORG. PERSON, in my opinion, has to deliver DATE,"" said PERSON of ORGamp; GPE, who does not anticipate a major turnaround for the international beverage business until DATE or DATE.
Analysts said ORG reported DATE earnings on DATE that met expectations, but failed to excite investors.
If ORG sells the restaurant business as expected, the company may pour some of those proceeds into acquisitions to further beef up the solid snack food business, analysts said.  
Analysts also have dismissed recent rumors that ORG would be interested in buying ORG They said a transaction between the CARDINAL would likely dilute NORP earnings and disappoint investors who want the company to exit the casual dining business.
Both companies declined to comment on the NORP-Starbucks speculation. The CARDINAL companies are in a joint venture for the production and sale of a cold coffee beverage called PERSON.  
ORG huge product line includes Post breakfast cereals, ORG cigarettes and ORG cheese.","DATE after the collpase of his deal to buy security firm ORG, PERSON on DATE shifted gears to rental cars.
The founder of ORG and owner of the GPE Marlins baseball team announced earlier that his ORG had signed a definitive pact to buy privately-held FAC for MONEY.
The move is expected to catapult ORG's growing automotive business, which is rooted in used-car company ORG.",1
"With the ORG forecasting a PERCENT increase in NORP energy demand DATE for DATE, one could be forgiven for viewing the entire NORP power stock sector as a good bet.
Wrong.
Uncertainty in the form of rapid change looms over one of LOC's most important equity sectors, making short-term value hard to find, analysts say.
Just some of the wild cards include the privatisation of state utilities, a plethora of new, independent power producers (IPPs) and a diverse and government-controlled tariff structure.
""There is an escalation of the risk/reward ratio of power investments, given the massive changes the industry is undergoing,"" said BZW ORG analyst PERSON.
""A number of project-specific, speculative issues are turning once predictable, stable and defensive power investments into high-risk, high-reward plays.""
STOCK SELECTION CRITICAL
Longer-term, many NORP power companies are bound to offer strong returns with estimated demand requiring QUANTITY more capacity DATE for DATE, implying DATE investment of MONEY.
But all analysts agree stock selection will be critical to avoid a variety of short-term hazards.
In the past, NORP power stocks tended to track regional markets, but over DATE PERCENT of all new generating assets will be derived from IPPs, creating much greater divergence in share price performance.
Valuations will also come under pressure from a flood of new equity. Within DATE, ORG) and  ORG in the GPE are both due for privatization, with another CARDINAL privatisations in DATE.
The privatisations will join a slew of new equity from the MONEY Bakun hydroelectric dam project, ORG and  Port Dickson Power in GPE,  ORG and ORG in GPE and ORG (ORG) in GPE. In total, a flood of MONEY in new paper will hit NORP markets DATE.
""While increasing the alternatives available to investors, it is probable that new supply will reduce premiums accorded to already-listed companies,"" ORG analyst PERSON wrote in a recent research report.
HIGH PREMIUM STOCKS SET TO FALL
Valuations are also expected to rationalise following ORG MONEY acquisition of ORG (CEPA) DATE.
The deal's premium of PERCENT to net present value provides a new international benchmark that could speed up an evening-out of domestic stock valuations. Many stocks trading at high premiums can expect to fall sharply.
""What ORG has done is call attention to market transactions. A lot of people will view it as a benchmark for value against domestic valuations,"" PERSON said.
""It's only been DATE so we haven't seen the trickledown come through yet, but some of the dearer IPPs will see the premiums come down. This is not just intuition but based on a survey of fund managers,"" he added.
KEPCO GETS BUY RECOMMENDATION
While analysts all commend careful stock-picking as the only safe route through this maze, their recommendations vary widely -- with one notable exception: ORG enjoys a buy recommendation from virtually every NORP analyst.
As the sole government-owned and operated utility in GPE, GPE enjoys a virtual monopoly on electricity generation and transmission in GPE, accounting for PERCENT of all electricity generation last year.
The stock, with a PERCENT weighting on the GPE stock market, fell in line with the broad sell-off in NORP shares in DATE before making a breathtaking recovery DATE.
Despite expectations of weak DATE earnings from higher fuel prices and a punishing foreign exchange rate, ORG is now trading at CARDINAL won against a DATE low of CARDINAL.
Analysts said the stock appears to have priced in expectations of a PERCENT decline in DATE earnings and now is trading in anticipation of DATE in DATE, aided by a tariff increase and improved fuel prices.
""Although any further depreciation in the won will likely not be helpful to ORG we expect the decline in oil prices to more than compensate,"" said PERSON at ORG.
GPE'S HNP FAVOURED, EXPANDING
GPE's ORG (ORG) is also favoured by most analysts, but it does not enjoy ORG's universal popularity.
ORG said ORG, with the highest valuation among the CARDINAL NORP power companies, is known for its strong relationships -- always important in LOC -- and a quality management led by PERSON, the son of GPE's premier PERSON. PERSON senior runs ORG, overseeing capital expenditure and tariff increases.
ORG is expanding its existing CARDINAL power plants to QUANTITY over DATE from QUANTITY now, boosting DATE earnings growth by a projected PERCENT.
Most analysts also like GPE and China Gas for its stable earnings growth, GPE exposure and property investments. But ORG and ORG received a mixed response thanks an uncertain regulatory environment, unstable earnings outlook and problems with overcapacity.
ORG in the GPE is also popular as a monopoly with good exposure to an accelerating economy. But some analysts warn the stock's valuation, formerly justified by strong profit growth and positioning, will have to change to reflect no more tariff increases until DATE.
And while some expect PERSON to benefit from the privatisation of ORG, which is run by many ex-Meralco personnel, others see increased investor choice eroding PERSON's share premium.
Analysts are neutral to negative on GPE's ORG, which faces a loss of its monopoly on transmission and distribution, uncertainty surrounding any tariff increases, and the possibility that the government will demand that the company provide a rebate to customers damaged by a recent blackout.","GPE's nascent funds industry will remain dormant until the government steps in and provides a boost, experts attending a mutual fund conference said on DATE.
""There needs to be somebody giving them a push. The push can come not just from banks, not just from private institutions, but from the government,"" said PERSON, deputy general manager of ORG in GPE.
Despite its obvious promise, GPE's mutual funds industry faces substantial obstacles, including unbeatable returns from bank deposits offering PERCENT per annum.
One speaker said that PERCENT of pension fund assets valued at MONEY were held in bank deposits. CARDINAL newly-established mutual funds with assets of MONEY were similarly invested.
Among recommended measures at the conference were tax benefits for mutual fund investors, permission to allow domestic savings to flow offshore and a major educational drive.
PERSON, director of ORG, told the conference that government discussions to provide a tax break to mutual fund investors were underway, and PERCENT of the bourse's budget for DATE was dedicated to educating the public about the benefits of mutual fund investment.
But delegates said with international investment prohibited and foreign investment restrictions of PERCENT, incentives to setting up investment management subsidiaries in GPE were limited despite the industry's promise.
""Internationally, it's always a nervous position for a foreign fund manager to be in when it appears investment is a CARDINAL-way street,"" said PERSON, managing director at ORG in GPE.
Foreign fund managers would be more likely to establish fund management subsidiaries in GPE if there were opportunities to manage NORP money offshore, he said.
""It's a hard call to make for a foreign fund manager to come down here and set up shop just to manage NORP domestic mutual fund business, which at the moment is a very small pie,"" Smith said.
ORG said GPE is clearly committed to speeding up the establishment of its financial infrastructure, and catching up with its more developed NORP neighbours.
""Yes, they have lost out for DATE but as you know nowadays knowledge is so freely available that they don't have to wait DATE DATE,"" ORG said.
""(They can make a) quantum leap in DATE. They can buy expertise, they can buy information ... I think GPE will be something to reckon with in DATE.""
-- GPE Newsroom",1
"GPE said on DATE it strongly opposed a visit to GPE by GPE's foreign minister and accused its island rival of trying to disrupt GPE's ties with other friendly states.
It also accused GPE's leaders of lacking sincerity towards improving relations with GPE.
""We deeply regret and express our strong dissatisfaction with GPE and other states for allowing a visit by (GPE Foreign Minister) PERSON,"" said ORG spokesman PERSON.
""We are resolutely opposed to the development of government links or any other form of official contacts with GPE by any states that have diplomatic ties with our country,"" he told a news briefing.
GPE's foreign minister arrived in GPE on DATE in a visit shrouded in secrecy.
GPE has diplomatic relations with GPE but has strong commercial ties with GPE.
PERSON gave an economics lecture at a northern NORP university, sources at the university said. NORP government officials declined to comment on the visit.
GPE has viewed GPE as a rebel province since the end of EVENT in DATE and has not ruled out the use of force to recover the island.
It has tried to isolate GPE by insisting the island was not entitled to formal relations with foreign states.
NORP media said PERSON, who left GPE DATE, was travelling to GPE and GPE, en route to GPE.
The trip is CARDINAL of CARDINAL overseas damage-control missions planned by top GPE officials since GPE, GPE's largest ally, declared DATE it would switch ties to GPE by DATE.
""GPE authorities are trying to disrupt our friendly relations with other states,"" Shen said, repeating GPE's frequent accusation that GPE was trying to create ""CARDINAL Chinas"".
""GPE's leaders...lacked sincerity towards improving relations between the CARDINAL sides,"" Shen said.
GPE's leaders had taken a negative attitude towards improving economic and trade ties with the mainland and this would not help improve relations, he said.","GPE will push to expand economic ties with GPE at a top level meeting in GPE DATE as old political hostilities fade in the background, a senior NORP diplomat said on DATE.
""The big task in bilateral relations is to boost economic cooperation to the level of political cooperation,"" said NORP Ambassador PERSON.
NORP Premier PERSON and NORP Prime Minister PERSON will meet in GPE to map out practical economic steps in a relationship described by the CARDINAL sides as a strategic partnership.
The CARDINAL former rivals for the leadership of the world communist movement have not seen such smooth relations since DATE -- when the NORP communists proclaimed the birth of GPE, according to the NORP diplomat.
""Relations have never been on such a healthy and rational basis,"" said PERSON, CARDINAL of GPE's top GPE experts.
The CARDINAL sides would now push to deliver oil, natural gas and electricity from LOC to GPE while GPE wanted a role in GPE's nuclear power development, he told reporters.
Rogachev said GPE was hoping to see other neighbouring countries participate in the projects, though he gave no indication of how likely that was or what form it might take.
GPE and GPE have already proposed an oil and natural gas pipeline linking LOC to GPE but financing is certain to be a key hurdle for the huge project.
""I don't expect an agreement on these issues at the (DATE) meeting but perhaps we'll be ready by DATE,"" he said.
That is when GPE's President PERSON travels to GPE for a summit with NORP President PERSON, a meeting arranged during the visit to GPE DATE of NORP Foreign Minister PERSON.
GPE and GPE are expected to sign another accord soon, this one on troop reductions along their QUANTITY (QUANTITY) border, the official ORG has said.
Rogachev said GPE was eager to reduce the high cost of stationing troops along the lengthy border, particularly when the strains of the DATE NORP split were so far behind them.
""We don't think that GPE creates a threat for our country and they (GPE's leaders) don't see GPE as an enemy,"" PERSON said.
During PERSON's DATE visit to GPE the CARDINAL nations -- along with the CARDINAL former soviet states of GPE, GPE and NORP -- signed a treaty agreeing to inform each other of military exercises along the border and not to attack each other.
However, GPE and GPE been unable to reach agreement on CARDINAL area of cooperation -- further deliveries of GPE's ORG Su-27 interceptors.
GPE's armed forces have already put into service a ORDINAL group of the planes but talks for further sales have long been stalled over payment and technology transfer issues.
""Talks are going on,"" PERSON told reporters. ""There will be more talks in future.""",1
"GPE has begun a national drive to test all blood products since the discovery of HIV contamination DATE, a health official said on DATE.
""We have requested all local health authorities to inspect blood products and report the results to us,"" said an official at ORG.
The official, who declined to be named, said the testing followed the discovery in DATE of some samples of a HIV contaminated product manufactured and sold in the southern province of GPE.
The product was known as ""Wolongsong"" brand blood albumin, a protein.
HIV -- Human Immunodeficiency Virus -- is the virus that can lead to Acquired Immune Deficiency Syndrome (AIDS).
""Following the incident we instituted a national inspection of blood products,"" the official told ORG.
Asked how the tainted product had been uncovered, she said: ""I can't tell you that. This is a very sensitive question.""
Results of the tests from several provinces had been turned over to central authorities, she said without giving any further details.
An official at ORG said public health authorities in GPE had called for government agencies around the country to stop the sale and use of the 50- millilitre ""Wolongsong"" albumin.
GPE health officials, contacted by telephone, declined to give any information on the manufacturer or say how much of the product had been on the market when the action was taken.
They also declined to say how the item became contaminated, what conditions it was used to treat or how serious the risk was to people who used the product.
Officials in GPE said that an order had been sent to have the NORP product destroyed.
Official figures show GPE has CARDINAL reported HIV cases and the total is expected to reach CARDINAL by DATE.
NORP officials quote health experts as saying they believe the actual number is 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 use and prostitution and experts warn these CARDINAL problems could increase the number of AIDS cases across the country.","ORG key index ended higher on DATE, but the overall market finished mixed in thin trading as many money managers decided to place their bets on fixed income investments.
The TSE 300 Composite Index rose CARDINAL points to close at CARDINAL in turnover of CARDINAL shares worth MONEY (MONEY).
Almost all of GPE's CARDINAL sub-indices ended higher except transportation. Despite these gains, declining stocks outpaced advances CARDINAL to CARDINAL with CARDINAL issues unchanged.
""I think the market's kind of jittery,"" said ORGamp; ORG chief strategist PERSON.
ScotiaMcLeod's director of investment research PERSON agreed. ""People are being cagey, not going to equity funds,"" he said.
Many mutual fund managers are trading cautiously and awaiting direction in the market after this DATE's volatility, analysts said.
GPE soared CARDINAL points to close at CARDINAL following DATE's roller-coaster ride in NORP markets.
Media, consumer products, golds and real estate posted the strongest gains among GPE's rising sectors.
Smaller issues, including some heavyweight gold stocks, we're sold off in thin trading, CARDINAL trader said.
ORG lost CARDINAL to CARDINAL on CARDINAL shares. Brokerage firm ScotiaMcLeod recommended selling the prospector after shares nearly tripled since DATE on initial results from its GPE property.
ORG slipped CARDINAL to CARDINAL while potential partner ORG rose CARDINAL to CARDINAL. Both denied an earlier report which said PERSON may be able to hold an auction for control over its huge Busang gold deposit in GPE.
Shares in ORG, ORG's possible rival, rose CARDINAL to close at CARDINAL.",0
"GPE is trying to make things tougher for exporters of non-ferrous scrap metals, but impending tighter regulations will not keep NORP supplies from finding Western markets, industry sources said on DATE.
""There was a big once-and-for-all surge in scrap exports in the early stages of the break-up of GPE, but that's now over,"" said copper specialist PERSON of ORG in GPE.
""The domestic market is tighter than it used to be, so there is a lot less going to LOC.""
But he could not see proposed licensing of exporters hitting sales abroad, and other sources said GPE would still find NORP markets more attractive than the domestic one.
GPE wants to license the export of scrap ferrous and non-ferrous metals to help provide steady supplies to domestic metals enterprises for processing and then export.
NORP news agencies said on DATE a decree on licensing could be signed by DATE.
ORG in DATE sought to limit scrap exports to QUANTITY a year, but compromised by agreeing to a plan to license exporters.
""Maybe this scrap will be processed in GPE and then exported -- but the fact is that this material costs more abroad than it does in GPE,"" said a senior source at GPE, the former state metals export agency, who declined to be named.
Other industry sources said domestic metals firms were short of funds and that barter operations -- the means by which they would buy scrap -- were increasingly unattractive.
CARDINAL of NORP copper is produced from scrap, and officials are seeking ways to ensure steady supplies.
""There's no market for people to supply scrap to domestic enterprises and for them to then export it and get paid,"" said PERSON, a non-ferrous export specialist at ORG.
""Licensing will increase export of metal through all channels.""
He said enterprises had already found ways to find the raw materials they needed.
NORP scrap copper exports were QUANTITY in DATE, and ORG, which reported the data in DATE, said this was up PERCENT on total DATE exports.
Western traders have said scrap availability on Western markets is often spotty and even unofficial estimates on scrap non-ferrous exports are hard to come by.
But CARDINAL trends appear certain.
The exodus of large amounts of scrap copper, aluminium, nickel, steel, lead and iron that took place after the DATE collapse of GPE is over, and GPE's scrap metal trade is consolidating as bigger, richer domestic and foreign players move in.
In the immediate EVENT much of the scrap was smuggled from military bases and trade was so brisk that NORP industry sources described the LOC as the world's largest non-ferrous metals exporters -- even though the CARDINAL countries produce virtually no metals.
The NORP press is no longer full of tales of smugglers riding the train to the LOC with copper cable in backpacks.
But the market is still one of the wildest and least transparent in GPE and dealers said licensing may not help.
""GPE is no longer just bleeding metal,"" Bagrov said. ""(But) I would not say the market has become civilised.""
Official export statistics, most of which do not include the scrap trade, were unreliable, he added.","NORP leaders on DATE denounced GPE's exclusion from ORG (ORG) as unjust, saying the 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, said NORP minister for economic restructuring PERSON.
""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 and have blamed GPE for blocking their accession with tough demands for more open markets.
PERSON, chairman of ORG, said GPE was committed to gradually establishing a trade system in line with international practice and had DATE already slashed import tariffs to PERCENT from PERCENT.
GPE would continue to open its markets to foreign trade and investment and to push for membership of the global trade club, PERSON said in a speech to the business summit.
""We will continue positive negotiation with the members of ORG to regain membership in the organisation at the earliest possible date,"" he said.
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. trade 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 ORG (MFN) trade status triggering some of the bitterest rhetoric.
GPE has urged GPE to make ORG status permanent, and PERSON warned GPE itself 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 embassy officials said on 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.
GPE's growing trade surplus with GPE is also widely seen as a barrier to warmer NORP relations.
Exports to GPE in DATE had increased by PERCENT to MONEY, official NORP newspapers said on DATE. They gave no details for imports.",0