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Halliburton opens Russia training center

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HOUSTON (AP) – Energy industry service provider Halliburton Co. said Friday it opened a new training center for employees in Russia as part of a larger strategy to grow its business in that country and the surrounding region.

The new center is operated through an agreement with the Tyumen State Oil and Gas University and is already training students from five countries: Kazakhstan, the Netherlands, Norway, Russia and the United Kingdom.

‘Halliburton understands the importance of hiring and training its work force in locations where resources already exist, in terms of both personnel and oil and gas,’ said Halliburton Vice President Lawrence Pope in a statement.

The company now has 12 training centers worldwide.

Shares of Halliburton Co. rose 28 cents Friday to $33.09 in midday trading.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Peruvian group suing Oxy over pollution

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LOS ANGELES (AP) – Members of an indigenous group in Peru are suing Occidental Petroleum Corp., claiming the company’s oil production operations in the Andean nation resulted in toxic levels of pollution that left many people sick or at risk of serious illness.

The complaint, filed Thursday in Los Angeles County Superior Court, was brought by 25 Achuar Indians who claim they suffered health problems from cancer to lead poisoning due to exposure to contaminants from Occidental’s oil production operation.

The group also blames the death of one of the plaintiffs’ children on the company’s actions.

A call to Los Angeles-based Occidental seeking comment was not immediately returned.

The suit seeks class-action status and unspecified compensatory and punitive damages.

‘With this lawsuit, I am here demanding Oxy clean up and compensate for the contamination it left in the Rio Corrientes region,’ Apu Tomas Maynas Carijano, the lead plaintiff, said in a statement. ‘We can no longer eat the fish or drink the water. Our children are guaranteed death unless Oxy acts now.’

The group is native to Peru’s Upper Corrientes Basin. They claim the region gradually became contaminated by pollutants over the three decades since Occidental first established operations there.

According to the lawsuit, Occidental discharged millions of gallons of water used to process crude oil back into local waterways, flooding rivers with heavy metals, radioactive compounds and other harmful compounds.

The crude oil processing also released gasses that have contributed to air pollution and acid rain, the group claims.

The Achuar’s land was also exposed to contamination from chemical waste, which the company stored in unlined earthen pits, according to the lawsuit.

Government health studies have found that Achuar Indians in the zone suffer high blood concentrations of cadmium and lead — a problem that Peruvian officials have said goes back to the 1970s when Occidental operated in the region.

The company pumped oil in Peru’s northern jungle until 1999, when its operations were bought by the Argentine-run company Pluspetrol.

Last year, that company signed an agreement with the Peruvian government to stop dumping contaminated oil waste by July 2008 after two weeks of protests by an Indian group.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Budapest shares close up in thin trade ahead of US rate decision UPDATE

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BUDAPEST (Thomson Financial) – Budapest shares closed up in line with major European markets after yesterday’s bout of profit taking, but with trade thin ahead of this afternoon’s interest rate decision in the US, and gains limited after US markets opened down, dealers said.

The BUX index of leading Hungarian shares closed up 0.67 pct at 25,842.87. Trading volume was around two thirds of the daily average.

The Hungarian forint was down as the euro rose 0.30 pct to 246.99 forints and the US dollar ticked up 0.10 pct to 182.30 forints.

Magyar Telekom, due to report a decline in first quarter profit tomorrow, finished up 0.87 pct at 1,045 forints, after falling over 2 pct yesterday.

The two pharmaceutical stocks, Richter and Egis, recovered some ground lost yesterday after the companies posted first quarter results below market expectation.

Richter was up 0.77 pct to 37,145 forints, while Egis was up 0.87 pct to 19,790 forints after falling nearly 7 pct yesterday.

Banks were broadly positive, with OTP up 0.52 pct at 9,777 forints after yesterday’s losses, and state-controlled mortgage bank FHB gaining 1.79 pct to 2,275 forints.

FHB is expected to post a decline in first quarter profits on Friday as its key mortgage business is hit by increased competition in the Hungarian mortgage market.

However, the bank’s stock is being supported by the government’s intention to sell its controlling stake, which is expected to happen later this year.

Oil stock MOL finished the day up but eased off an intra-day peak after a key US report showed motor fuel stocks increased.

MOL has also been associated with a 150 mln usd purchase of Croatia’s Tifon, the third largest petrol station operator in the country.

MOL stock closed up 0.78 pct at 22,575 forints.

edward.krudy@thomson.com

ek1/cml

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ProSiebenSat.1 Q1 EBITDA up 16.1 pct on higher TV advertising revenues

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FRANKFURT (Thomson Financial) – ProSiebenSat.1 Media AG said first-quarter EBITDA rose 16.1 pct to 82.0 mln eur from 70.6 mln a year earlier on the back of rising advertising revenues.

The result beat the 78.7 mln eur consensus forecast of analysts polled by Thomson Financial News partner dpa-AFX.

Sales in the three months through March grew to 501.2 mln eur from 465.3 mln eur, the German broadcaster said. Analysts had expected 495.1 mln.

Net profit for the period grew to 40.6 mln eur from 30.7 mln eur, compared with the consensus forecast of 39.5 mln.

‘The ProSiebenSat.1 Group got off to a good start this year. We saw growth in both our core business in Free TV and our new operations,’ chief executive Guillaume de Posch said.

‘We are confident that our stations’ programming will pick up further strength, while we continue to build up our diversification and online initiatives.’

ProSieben also reaffirmed that it expects its advertising revenues to grow slightly faster than the German TV advertising market as a whole, which is expected to show net growth of 2-3 pct.

ProSieben also expects revenues and earnings, as well as its profitability, to increase this year.

ProSieben, which was last year taken over by private equity groups KKR and Permira, affirmed it expects both sales and earnings to increase this year as it anticipates the German TV advertising market will grow 2-3 pct.

KKR and Permira now own 88 pct of voting common shares and about 13 pct of non-voting preference shares, collectively representing about 50.5 pct of the aggregate share capital.

De Posch last month said the company could take over SBS Broadcasting Group by the fourth quarter of this year in a bid to create one of Europe’s leading television companies.

ProSiebenSat.1 will make a decision on whether to make a bid for SBS by the end of July, after completing due diligence, de Posch said.

The company would finance the takeover with loans rather than a capital increase, to take advantage of its low debt level, he said.

alfred.kueppers@thomson.com

amk/slj

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Ericsson, Sun to collaborate on open source Java technology multimedia

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STOCKHOLM (Thomson Financial) – LM Ericsson AB said it is to collaborate with Sun Microsystems Inc to develop an open source Java technology-based multimedia application server, as well as a supporting programme for (software) developers.

Ericsson said it will contribute parts of its server development to the open source project GlassFish.

‘The supporting program includes a variety of tools and expertise to support developer communities, as well as a possibility for developers to test their applications on a live IP Multimedia Subsystem-based network, Ericsson said.

TF.TFN-EuropeStockholm@thomson.com

hc/gp

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AP Moller Maersk believes oil production in North Sea has reached its peak

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COPENHAGEN (Thomson Financial) – Management at AP Moller Maersk’s Maersk Oil & Gas division believe oil production in the North Sea has reached its peak, daily Boersen reported.

‘Production is, under all circumstances, expected to decline during coming years, but our task is to counteract this as far as possible,’ Maersk Oil & Gas deputy director Anders Wurtzen said according to Boersen.

However, the Danish Energy authority expects new technology will help increase oil production in the North Sea, Boersen added.

AP Moller Maersk said in April that oil production at its partly owned Dansk Undergrunds Consortium’s 14 oil fields in the North Sea had fallen 8 pct year-on-year in March 2007.

gustav.sandstrom@thomson.com

gs/bsd

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Piaggio to launch 55-56 new models this year

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MILAN (Thomson Financial) – Piaggio SpA’s chairman Roberto Colaninno said the motor bike and scooter firm will launch 55-56 new models this year, including 25-26 completely new products for the group’s various brands.

Speaking at the annual shareholder meeting, he said the recently-launched three-wheel MP3 scooter is ‘a big success’, while in September, the Gilera brand will launch a scooter with an 800 cubic centimetre-sized engine, which will reach a speed of 200 kilometres per hour.

In India, he said production is expected to reach 160,000-170,000 units, up from 140,000 in 2006.

nigel.tutt@thomson.com

nt/lam

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WPP Group’s Wunderman acquires Belgium marketing agency These Days

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LONDON (Thomson Financial) – WPP Group PLC said its wholly-owned operating unit Wunderman, a direct, promotion and marketing network, has acquired Belgium-based These Days NV, for an undisclosed sum.

These Days, an interactive marketing agency, reported a full-year revenue of 4.6 mln eur for the year to end December 2006, and had gross assets of 3.7 mln eur.

Earlier today, WPP had said its wholly-owned operating unit Grey Healthcare Group, a healthcare-communications network, has acquired the business of WestawayGillis Consulting for an undisclosed sum.

TFN.newsdesk@thomson.com

kkb/tsm/jag

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TGS-Nopec Q1 pretax profit 51.3 mln usd, sees strong demand for 2007

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OSLO (Thomson Financial) – Seismic exploration company TGS-Nopec posted first quarter pretax profit of 51.3 mln usd, an increase from 49 mln usd in the first quarter of 2006, but below what the market had been expecting.One broker, who asked not to be named, said consensus expectations were for 56.8 mln.Sales for the Norwegian seismic surveyor for the oil industry came in at 95.4 mln usd, up from 89.7 mln, a 6 pct rise.The company said a comparison of results was complicated by the fact that the previous year’s figures included 14 mln usd in net revenues and associated amortisation charges which would normally have been included in the Q4 2005 report, but which were transferred to the next quarter due to a change of accounting rules.Looking ahead, the company said that TGS’ growth in the first quarter was hampered by delayed deliveries of new seismic vessels, but demand for the company’s products and services remained strong.TGS said for 2007, it expected net revenue growth in the range of 20-25 pct.patrick.mcloughlin@thomson.compm/cmrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

Sinatra furnishings among Sands sale

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ATLANTIC CITY, N.J. (AP) – Here’s one way to look at the giant liquidation sale that will take place later this week at the former Sands Casino Hotel: It’s one last chance to take home a nostalgic piece of the place where Frank Sinatra once held court.

Here’s another: Falter in Atlantic City, and they’ll pick your bones clean.
Both will happen on Thursday when the contents of the famous gambling hall and its hotel rooms, kitchens and stages go on sale to the public. Once the stuff is gone, the Sands will be demolished to make way for a new billion-dollar casino.

‘When you pull these places apart, people are fascinated,’ said Kim Townsend, executive vice president of Pinnacle Atlantic City, the company that bought the Sands property. ‘Whenever things are hidden away behind walls or in private areas, it just increases the speculation.’

There will be hidden treasures aplenty, including everything from the Plaza Club — a swank 19th-floor hideout that became Sinatra’s private playground whenever he stayed at the Sands. Chandeliers ($4,250), a marble and wood bar, and leather chairs are among the furnishings from the club that are expected to go quickly.

Rocky Merrill, a maintenance worker for 25 of the Sands’ 26 years, did custom work for The Chairman of the Board during several of Ol’ Blue Eyes’ stints there.

‘He was really private,’ Merrill recalled. ‘We took a whole floor and I had to cut doors between each room so he could walk from one end of the floor to another where his people were, without having to go into the hallway.’

‘He asked for it, he got it,’ Merrill said.

All told, about $1.5 million worth of merchandise is being sold off, from $1 towels and linens to the giant red velvet curtain that rose and fell on acts at The Copa Room, which could fetch $5,000 to $10,000.

The sale is not an auction; each item is tagged with an assigned price, and buyers have to cough up an additional 10 percent ‘buyers’ premium.’ The sale will continue until everything is sold.

The Sands opened as the Brighton Hotel & Casino in August 1980. Within a year, it was sold and renamed the Sands. In the 1980s it became a hub for by-then aging Rat Packers and in the early ’90s was among the first Atlantic City casinos to offer poker.
But the sands of time were running out for the Sands by 2003 when The Borgata Hotel Casino & Spa opened, bringing with it restaurants from big-name chefs, pulsing nightclubs and upscale shopping — and no drop-off zones for buses.

The trend toward Las Vegas-style destination resorts moved away from the buffets and bus terminals for blue-haired old ladies that places like the Sands offered. Last September, mogul Carl Icahn, who owned the Sands for six years, sold it to Pinnacle Entertainment, which closed it down in November.

Before the building is imploded this fall, everything has to be cleared out. The gambling equipment has all been transferred to other Pinnacle casinos except for the chips, which will be destroyed in a few weeks.

The sale includes 200 television sets, priced as low as $89; the marble bar and four stools from the posh Hollywood Suite (just under $2,000); the room’s king-size canopy bed ($2,250) and its whirlpool bath with waterfall jets ($1,495).

Brass Champagne buckets go for $175, a light-up ceiling sign that reads ‘CRAPS’ sells for $95, and a high-backed dining room chair that seems more appropriate for a beach house than a glitzy casino is tagged at $65. Vinyl lounge chairs are $145 each.

Then there are thousands of pieces of kitchen and restaurant equipment, including plates, glasses, baking trays and serving racks. The drums from the Copa Room’s house band must go, along with hundreds of high-powered color stage lights.

Even the huge dressing room mirror into which Sinatra peered before each show, and the in-house speaker box through which an assistant called him to the stage will be sold.

So, too, will the fully functional window that Rosemary Clooney insisted be installed in her room as a condition of her performing there, and the steam room that Don Rickles demanded be built for him, Merrill said.

Even the huge gambling icons on the Sands’ facade, such as the giant logo, the ‘777’ slot machine panel, and yellow gambling chips are for sale. But bring your own construction crew to pry them loose.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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