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Turkmenistan’s Iolotan gas field world’s second largest: GCA

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Turkmenistan’s Iolotan gas field world’s second largest: GCA

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March 4 (Bloomberg) — Peter Bauer, chief executive officer of Infineon Technologies AG, talks about the outlook for the company’s profitability and demand for its products. Infineon is the world’s second largest chipmaker. Bauer speaks with Emily Chang and Cory Johnson on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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Video: Bauer Says Infineon Serving Makets That Will Have Demand

Lease Up: Société Générale Leases 444,000 SF in NYC

January 3, 2011

Société Générale, France’s second largest bank, signed a new lease for 20 years for 444,000 square feet at 245 Park Ave., the largest leased signed in Manhattan in 2010. Société Générale’s lease will include floors three through 12. Occupancy is expected for mid-2013. The agreement also provides for a 20-year direct relationship with the building’s owner, Brookfield Properties. The original deal was a sublease from JPMorgan Chase. The 44…

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David Isenberg: The Three Fifths PMC

December 17, 2010

As I have noted on more than one occasion private military and security contractor supporters frequently argue that using contractors is less costly than using regular military forces. I’ve pointed out that in strict economic terms much of the time the empirically evidence supporting this claim is, to put it politely, lacking. But let’s say it is true. Is that a good thing? No. Here is why. One argument made in favor of PMC that has always irked me is the lesser political cost argument. This is the argument that using PMC generates less outrage than using a regular soldier. It may even be true but should it? Absolutely not I think. Are not all lives precious? Does the fact that someone that a private sector man or woman is killed, instead of a soldier or marine, in prosecution of a war that nation they are both citizens of, make the death of the former less significant? If people really believe that is true we are indeed in a lot more trouble than people think, ethically and morally speaking. The following excerpt from a paper by a law school professor, published earlier this year, details the problem. Markus Wagner, of the University of Miami School of Law, writes in the paper ” The Second Largest Force: Private Military Contractors & State Responsibility “: Apart from the – unknown – economic aspects of employing PMFs however, there are less tangible, but maybe more important aspects that must be taken into consideration when discussing the use of PMFs in engaging in conflicts or waging war. One of the main benefits of employing PMFs is that military confrontations are politically cheaper to carry out than when using regular troops. At home, the death of an enlisted member of the armed forces is – and should be – a tragic reminder of the human costs involved in fighting an armed conflict. The same sentiment is not shared for those who die receiving their paychecks not from a defense department located in a country’s capital, but from a company such as Sandline or MPRI-L3. Their families or friends are just as aggrieved as those whose mother, father, daughter, son, brother or sister has fallen for her / his country; however, the nation does not mourn for these individuals the same way and their ceremonies do not invoke national symbolism. They are seen as the “dogs of war” or mercenaries, fighting for personal gain. And at least so far, it does not appear that the death of contractors carries as high a price for politicians as the death of enlisted soldiers. Those who remember early American history might ponder the similarity to the Three-Fifths compromise. That was a compromise between Southern and Northern states reached during the Philadelphia Convention of 1787 in which three-fifths of the population of slaves would be counted for enumeration purposes regarding both the distribution of taxes and the apportionment of the members of the United States House of Representatives. Delegates opposed to slavery generally wished to count only the free inhabitants of each state. Delegates supportive of slavery, on the other hand, generally wanted to count slaves in their actual numbers. Since slaves could not vote, slaveholders would thus have the benefit of increased representation in the House and the Electoral College. The final compromise of counting “all other persons” as only three-fifths of their actual numbers reduced the power of the slave states relative to the original southern proposals, but increased it over the northern position. Do we really want a situation where a private military contractor is considered a lesser person when it comes to totaling the ultimate sacrifice? Wars are always horrific and costly affairs. If we minimize its costs we run the risk of making people think it is not so hard to do and perhaps they will do more. That is a compromise we should not live with.

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The second largest economy in Europe probably expanded by 0.8 percent during the third quarter

November 24, 2010

The second largest economy in Europe probably expanded by 0.8 percent during the third quarter

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Tiffany Profit, Sales Beat Analysts’ Estimates on Growth in Asia, Europe

May 27, 2010

By Cotten Timberlake May 27 (Bloomberg) — Tiffany & Co. , the world’s second- largest luxury jewelry retailer, reported first-quarter profit and sales that exceeded analysts’ estimates. Earnings from continuing operations totaled 48 cents a share, New York-based Tiffany said today in a statement distributed on Business Wire. Analysts predicted 37 cents a share, the average of estimates compiled by Bloomberg. Sales jumped 22 percent, led by growth in Asia and Europe. Wealthy consumers have stepped up discretionary purchases as their confidence has improved amid economic recovery. Tiffany rose 99 cents, or 2.3 percent, to $43.59 in New York Stock Exchange composite trading yesterday. The shares had gained 1.4 percent this year before today. For the year, Tiffany forecast per-share profit of $2.55 to $2.60 compared with a March 22 projection of $2.45 to $2.50. Twenty analysts estimated $2.50, on average. Net income climbed to $64.4 million, or 50 cents a share, from $24.3 million, or 20 cents, a year earlier. Revenue in the three months ended April 30 gained to $633.6 million. Analysts predicted $613.4 million on average. Gross margin, the fraction of earnings left after subtracting the cost of goods, widened to 57.8 percent. Brian Tunick, an analyst with J.P. Morgan Securities Inc. in New York, estimated 57.2 percent. He rates the shares “neutral.” Tiffany operates 221 stores, 79 of them in the U.S. To contact the reporter on this story: Cotten Timberlake in Washington at ctimberlake@bloomberg.net

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Healthscope Receives Buyout Proposal Valuing Company at About $1.6 Billion

May 13, 2010

By Sarah McDonald May 14 (Bloomberg) — Healthscope Ltd. , Australia’s second- largest hospital owner, received a buyout proposal from a private equity group valuing the company at about A$1.74 billion ($1.56 billion). The group offered A$5.50 a share for all of Healthscope’s stock, the Melbourne-based company said in a regulatory filing, without naming the bidder. The offer is 22 percent higher than yesterday’s closing share price. The proposal is “indicative and non-binding”, and Healthscope’s board recommends shareholders take no action at this stage, according to the statement. Healthscope, which operates 43 private hospitals and a pathology business with facilities in Australia, New Zealand, Singapore and Malaysia, missed analyst estimates when it posted net income of A$45 million in the six months ended Dec. 31. Its shares have risen 13 percent in the past 12 months, compared with a 25 percent gain for the benchmark S&P/ASX 200 Index . To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net .

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Gafisa Sells 598M Stock

March 27, 2010

Brazils second largest real estate developer Gafisa has sold shares worth 598 million to fund acquisitions

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Asia week ahead: eyes on the world’s second largest economy as they are expected to report accelerating growth

February 14, 2010

Asia week ahead: eyes on the world’s second largest economy as they are expected to report accelerating growth

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PepsiCo Quarterly Profit Doubles as Snack-Food Revenue in Americas Climbs

February 11, 2010

By Duane D. Stanford Feb. 11 (Bloomberg) — PepsiCo Inc. , the world’s second- largest soda maker, said fourth-quarter profit doubled, as snack sales grew in the Americas. Net income increased to $1.43 billion, or 90 cents a share, from $719 million, or 46 cents, a year earlier, Purchase, New York-based PepsiCo said today in a statement. Year-earlier profit included writedowns and costs for restructuring. Earnings per share matched the average of 10 analysts’ estimates compiled by Bloomberg. Revenue for foods in the Americas climbed as volume was little changed. Fourth-quarter sales for the company, which also makes Gatorade sports drinks, rose 4.5 percent to $13.3 billion, in line with analysts’ estimates. PepsiCo rose 33 cents to $60.38 yesterday in New York Stock Exchange composite trading . The shares gained 11 percent in 2009. Coca-Cola Co., the world’s largest soft-drink maker, said Feb. 9 that fourth-quarter profit gained 55 percent as volume sales grew in China and India. To contact the reporter on this story: Duane D. Stanford in Atlanta dstanford2@bloomberg.net

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Movie Gallery Files Bankruptcy, Closing 800+ Stores

February 2, 2010

Late Tuesday night, the country’s second largest movie rental chain, Movie Gallery, brought to fruition circulating rumors that it would file Chapter 11. Like most retailers, Movie Gallery was hit hard from lack of consumer demand during the recession…

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Movie Gallery Closing 200 Game Crazy Stores

September 28, 2009

The country’s second largest movie rental retailer, Movie Gallery, is closing 200 of its 680 Game Crazy stores. The stores, which sell new and used video games and accessories, are located adjacent to Hollywood Video locations across the country. The…

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Infinera Names Ron Martin Vice President, Worldwide Sales

August 6, 2009

SUNNYVALE, CA–(Marketwire – August 6, 2009) – Infinera ( NASDAQ : INFN ) has appointed Ron Martin Vice President for Worldwide Sales. Mr. Martin joins Infinera with a distinguished thirty-year track record at some of the most successful companies in the networking industry. He joins Infinera’s world-class sales executive team, including Scott Chandler and Howard Lukens, who led Infinera’s sales team to #1 market share in the North American long-haul market (according to data from independent analyst firm Ovum) and to international customer wins including Germany’s leading service provider Deutsche Telekom, Nordic-based international carrier Telia Sonera, and NTT Communications of Japan, the world’s second largest service provider.

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Kraft Profit Rises as Taxes, Manufacturing Costs Fall; ’09 Forecast Raised

August 4, 2009

By Duane D.

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