Archive
German Bank Nears Purchase of NYSE
Deutsche Boerse AG is in advanced talks to buy NYSE Euronext in an all-stock transaction that would create the world’s biggest exchange operator, accelerating a day of takeovers that began with London Stock Exchange Group Plc’s acquisition of Canada’s TMX Group Inc.
NYSE and Deutsche Boerse said they will produce 300 million euros ($410 million) in cost savings, according to a statement. Duncan Niederauer, New York-based NYSE Euronext’s chief executive officer, will hold the same job at the combined company. Frankfurt-based Reto Francioni, CEO of Deutsche Boerse, will be chairman. Deutsche Boerse will own about 59 percent to 60 percent of the joined corporation.
The combination, following a decade-long wave of mergers among exchange companies, would unite equity and derivatives platforms from the U.S. and Germany to France, the Netherlands and Portugal. Since 2000, there has been at least Read more…
Russian volcano activity causes global concern
Now the world has something else to grip about when it comes to Russia – the weather.
A string of volcanoes on Russia’s eastern seaboard of Kamchatka have been unusually active for the last six months. The dust they threw up diverted winds in the Arctic, pushing cold air over Europe and North America and causing the unusually cold winter this year, say scientists.
The volcanoes (160 in total, of which 29 are active) are still on the go and could create more problems this year, depressing harvests around the world just as global food prices soar and Read more…
Mubarak could be worth $40 billion to $70 billion
Egyptian President Hosni Mubarak and his half-Welsh wife Suzanne
According to analysis by Middle East experts, Mubarak has taken much of the gains overseas and deposited much of his wealth in secret bank accounts in British and Swiss banks, The Guardian reported on Friday.
Observers say the Mubaraks have also invested in real estate in Read more…
The Youth Unemployment Bomb
From Cairo to London to Brooklyn, too many young people are jobless and disaffected. Inside the global effort to put the next generation to work
Cairo, Egypt: A cloud of tear gas drives back antigovernment protesters on Jan. 28 Jorge Dirkx/Reporters/Redux
By Peter Coy
In Tunisia, the young people who helped bring down a dictator are called hittistes—French-Arabic slang for those who lean against the wall. Their counterparts in Egypt, who on Feb. 1 forced President Hosni Mubarak to say he won’t seek reelection, are the shabab atileen, unemployed youths. The hittistes and shabab have brothers and sisters across the globe. In Britain, they are NEETs—”not in education, employment, or training.” In Japan, they are freeters: an amalgam of the English word freelance and the German word Arbeiter, or worker. Spaniards call them mileuristas, meaning they earn no more than 1,000 euros a month. In the U.S., they’re “boomerang” kids who move back home after college because they can’t find work. Even fast-growing China, where labor shortages are more common than surpluses, has its “ant tribe”—recent college graduates who crowd together in cheap flats on the fringes of big cities because they can’t find well-paying work.
In each of these nations, an economy that can’t generate enough jobs to absorb its young people has created a Read more…
Egyptian riots day 6: THOUSANDS of Prisoners escape, Musems Looted,many stranded.
More than 102 dead and thousands of prisoners on the loose in Egypt as 30,000 stranded Britons struggle to leave the country
Around 30,000 British tourists were stranded in Egypt today as army planes buzzed low over Cairo on the sixth day of uprisings.
At least 102 people have been killed, more than 2,000 are injured and there were calls for a multi-party democracy to emerge as President Hosni Mubarack’s grip on power loosens.
Gangs of armed men attacked at least four jails across Egypt before dawn today, helping to free hundreds of Muslim militants and thousands of other inmates as police vanished from the streets of Cairo and other cities.
Now scroll down to see the video:
Show of strength: Egyptians surround an army tank during protests in central Cairo on the sixth day of action
Last night a handful Brits that managed to board flights returning back from Cairo described their relief at escaping the riot-torn country. Read more…
Egypt on the boil, Mubarak’s son flees
Egypt‘s longtime President Hosni Mubarak’s son Gamal, seen as his likely successor, has reportedly fled to Britain, along with his family following a Tunisia-inspired protest. The 48-year-old younger Mubarak boarded from an airport in western Cairo a private jet bound for London with his wife and daughter, and nearly 100 pieces of luggage, the US-based Arabic website Akhbar al-Arab reported.
Thousands of Egyptians defied a ban on protests by returning to Egypt’s streets on Wednesday and calling for Hosni Mubarak to leave office, and some scuffled with police. Activists had called on Egyptians to take to the streets again to end Mubarak’s 30-year rule after Tuesday’s “Day of Wrath” involving anti-government protests across Egypt in which three protesters and one policeman were killed. The three protesters died in the city of Suez, and the policeman was killed in Cairo.
Police used riot trucks on Wednesday to break up a crowd of as many as 3,000 people who had gathered outside a Cairo court complex, one of the places where demonstrations had started on Tuesday. Police arrested at least 500 people across Egypt on Wednesday. Hundreds of demonstrators gathered outside the morgue in Suez demanding the release of one of the three bodies, witnesses said. Protesters said he was killed by several gunshots and demanded an autopsy.
“The government has killed my son,” the Suez protesters outside the morgue chanted. “Oh Habib, tell your master, your hands are soiled with our blood,” they said, referring to interior minister Habib al-Adli.
Hundreds of protesters also gathered outside Cairo’s journalists’ syndicate, where the authorities allow regular protests. Police beat some with batons when they tried to break a cordon. Protesters on buildings threw stones at police below. The state news agency said 90 people were arrested while trying to gather in Tahrir square in central Cairo, the focus of the biggest demonstrations. A judicial source said 64 people were detained in Alexandria.
The interior ministry had earlier banned all protest meetings. “No provocative movements or protest gatherings or organisation of marches or demonstrations will be allowed, and immediate legal procedures will be taken and participants will be handed over to investigating authorities,” the state news agency MENA cited the ministry as saying.
One opposition group, the Sixth of April Youth, called on its Facebook page for more protests on Wednesday “and after tomorrow, until Mubarak goes”. Facebook has been a key means of communication for protesters, but Egyptians said the site was blocked on Wednesday. Twitter confirmed its site was blocked on Tuesday, although users could still access it via proxy sites. The Internet has been the main platform for some of the most vociferous criticism of Mubarak. agencies
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