Euro -Services PMI Dropt from 50.4to 48.8 in Feb-Revised figure
An index based on a survey of purchasing managers in the services industry dropped to 48.8 from 50.4 in January, London- based Markit Economics said on its website today. That’s below an initial figure of 49.4 published on Feb. 22. A reading below 50 indicates contraction.
Herr Wiedmann, Bundesbank-No Mas LTRO
Germany Update- Adolph Smirkels Star on the Rise
Glencore Sees BRIC Demand a good short term.
LONDON (MarketWatch) — Commodities titan Glencore International PLC said Monday it expects to see healthy growth within the emerging markets in the short-term, after disclosing higher 2011 earnings despite cotton trading losses that weighed on its marketing activities.
The Baar, Switzerland-based group reaffirmed that all its mining projects were developing on time and within budget as it continues to prepare for its planned merger with 34%-held diversified mining affiliate Xstrata PLC . It also said it sees no change to the bullish long-term commodities outlook.
“Thus far in 2012, market conditions have improved and the year has started well across all segments of our business,” said chief executive Ivan Glasenberg. “Emerging market urbanization will continue to increase commodity intensity per capita as the demand for goods and products that industrialised societies take for granted increases,” he added.
Glencore said net profit attributable to shareholders more than trebled to $4.05 billion in 2011 from $1.29 billion in 2010. Revenues increased 28% to $186.2 billion while earnings before interest and taxes, or EBIT, adjusted for exceptional items rose 2% to $5.4 billion.
Adjusted EBIT from industrial activities, including mining, refining and smelting, rose 18% to $3.5 billion due to generally stronger commodity prices and increased production from its coal, copper and gold mines as well as the start up of the Aseng oil field in Western Africa, ahead of schedule and budget.
But unusually volatile cotton prices last year played havoc with earnings in Glencore’s marketing division, where adjusted EBIT fell 18% to $1.9 billion. Glencore said the volatility made hedging ineffective as well as difficult for cotton customers and suppliers to honor contracts.
Excluding the impact of cotton, adjusted EBIT would have been up 10% on the year in 2011, Glencore said.
Glencore’s shares have fallen 21% since its initial public offering price of 530 pence a share in May last year as concerns about the global economy dented the valuation of mining equities in general.
Glencore listed its shares in May on London and Hong Kong to much fanfare in what was considered a stepping stone to a tie-up with globally diversified miner Xstrata, a miner with which it has historically close commercial ties.
The two companies have proposed a merger of equals that would create a commodities juggernaut with a market capitalization of more than $80 billion and mining and trading assets in oil, grains, base metals, precious metals, shipping, and bulk commodities such as coal.
Glencore and Xstrata have agreed to a deal in which Glencore would give Xstrata shareholders 2.8 Glencore shares for every Xstrata share. Shareholders representing close to 5% of Xstrata’s share capital however believe that the current ratio isn’t sufficient. Equity analysts expect Glencore to raise its offer to 3.0, based on a Dow Jones poll of seven analysts.
Fukushima -Reactor 2 Levels of up to 22o mV/hr detected.
That is 22 rads/hr.
Quince 2, a robot searching the top floor of the crippled No. 2 reactor building of the Fukushima No. 1 nuclear power plant, detected radiation levels as high as 220 millisieverts per hour, Tokyo Electric Power Co. said.
The robot, developed by the Chiba Institute of Technology, measured radiation levels throughout the building and took images of the facility in February.
TEPCO, which released data and photographs on Feb. 28, said the information would be used in preparing for the removal of spent fuel rods from the fuel pool at the reactor.
The images appear to show puddles on the floor of the reactor, but TEPCO said it believed they were caused by condensation rather than by the accident.
The robot’s predecessor, Quince, was deployed in June last year, but was abandoned in October after it was immobilized on the building’s third floor and communication was lost.
Rabbis Determine War with Iran Not allowed currently
But it does not mean they can’t force their slave state of gentiles at the Pentagram to fight it for them! No news cycle is complete without checking in with the Rabbinate! Remember their ethos the Talmud allows them to dissimulate when talking to the gentiles in the public press. The Rabbinate is slick, unlike the Mullahs and Anglomason TV Preachers!
Anglo-Zionist City of London Cuts Germans out of Libyan Business Deals for failing to Participate in Blood letting
India-Lawmakers Run Government from Jail Cell
Chinese Lending Rises a Minuscule 3.2 billion in First 2 months at big 4 banks
Greece Debt-Swap Deadline This Week to Show If Europe Moving Past Crisis
Russian Equity Markets Like Putin Win
Ireland faces Long Road back to Market Credit
China Feb, Services PMI falls from 52 to 48
Greece May need more Help says Austrian Chancellor
English Crown Firm British Polluters Reaches 7.8 Billion dollar wrist slap settlement with grimy lawyer and grimy courts.
Anglo are only 8 pc of the USA yet like their cousins whenever there is a big pile loot, there they be. Notice THE two WASP lawyers representing the Plaintiffs.
China Cuts Growth Estimate to 7.5 PC
March 5 (Bloomberg) — China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption. Officials will also aim for inflation of about 4 percent this year, unchanged from the 2011 goal, according to a state-of-the-nation speech that Premier Wen Jiabao delivered today. Margaret Conley reports on Bloomberg Television’s “First Look” with Caroline Hyde. (Source: Bloomberg)
Putin Wins Six More Years. Exit Polls Show 60 pc of vote
English Going Beserk Claiming Greeks Will Default this week
This is about 1/10 articles from the English press saying the same thing. No one else is carry ing this story.Chasing down every English lie and rumor is like ploughing the sea.
Obama Say’s He Has Israel’s Back At Zionist AIPAC Vampire’s Ball
Putin Secures 63.82% After 99% of Ballots Counted-Putin Win In Landslide
MOSCOW, March 5 (RIA Novosti) – Russian Prime Minister Vladimir Putin secured 63.82 percent, or 44.9 million votes, as 99 percent of all ballots have been counted in Sunday’s presidential elections, the Russian Central Election Commission (CEC) said on Monday.
The Communist leader, Gennady Zyuganov received 17.18 percent of the vote, which is equivalent to over 12 million ballots, while the independent candidate, Russian billionaire Mikhail Prokhorov came in third with 7.77 percent (5.4 million votes).
Vladimir Zhirinovsky, the charismatic leader of the nationalist LDPR party, came fourth with 6.23 percent, or 4.3 million votes. The A Just Russia party candidate and former Federation Council speaker Sergei Mironov tails the list with 3.84 percent (2.7 million votes) for his support.
City of London Controlled Moscow Times Delights in Ability to Spy on Russian People Voting