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What the Russian papers say
MOSCOW, August 10 (RIA Novosti) Russia's arctic expedition annoys West/ Russia's polar expedition causes more harm than good - scientist/ Georgia hastily wipes out traces of "Russian aggression"/ Does Russia need Iraqi oil?/ Russian debtors will not be allowed to travel abroad Gazeta.ru Russia's arctic expedition annoys West Even the most fervent gung-ho patriots would not dare claim that Russia now has legal rights to the North Pole and its subsoil resources. So why has everyone become so agitated about it? Russia has not made any official claims; and when it does, it will first send its scientific report to the United Nations, not start with a pirate-style takeover. The reason behind such an inadequate response is the West's growing annoyance with Russia, which they take no trouble to hide.
Profits: WAN, AUN, CXP, PBL Split Late
Perth-based newspaper monopoly, West Australian Newspapers Holdings, yesterday reported a near 20% rise in 'normalised net profit' (before noteworthy items) to $128.4 million for the 2007 financial year, ending June 30.This result includes 53 trading weeks for all business units other than Hoyts Cinemas and Community Newspapers, so the additional trading week accounted for 1.9% of the increase, making the underlying increase 17.6%. Directors also said that the outlook for the current year was "favourable". "The strong advertising market in 2007 has continued into the first quarter of 2007/08. "Combined with a relaunch of Saturday's The West Australian in August and the benefits to flow from the Herdsman upgrade, the outlook remains favourable."(That's the continuing upgrade of the company's new printing plant at Herdsman in Perth.)Net earnings (not normalised) as reported (after noteworthy items) fell 22.1% to $54.0 million as a result of accelerated depreciation on Herdsman printing equipment, employee redundancies and a write-down of the Hoyts carrying value to $145 million.Directors said that while the pre-tax contribution from Hoyts "rose 17.4% to $16.2 million, this included a non-recurring item of $2.4 million relating to a gain on surrender of a lease.
Pair of state-chartered banks being organized
A group of investors that includes former Gov. John H. Sununu is now in the process of organizing a new community bank that will serve the Seacoast region and southern Maine, the group's lead organizer said. And another group of bank backers wants to establish state-chartered The Nashua Bank in Nashua. The Seacoast bank, once it is set up, will be known as the Optima Bank and Trust Co. and have its headquarters at Two Harbour Place in Portsmouth. The institution is now going through the regulatory approval process before the New Hampshire Banking Department and the Federal Deposit Insurance Corp. However, organizers are hopeful they'll soon be able to sell shares in the new endeavor, and the bank could be open as soon as this fall. "There has been a lot of consolidation in the banking business in New Hampshire.
Uganda: KCB Abandons Takeover Driven Expansion Into Uganda Market
Over the last one year, KCB has been desperately angling for a piece of either Crane Bank or Development Finance Company of Uganda (DFCU) as a linchpin to the Ugandan market. After months of negotiations with the two banks, the talks finally came to the acquisition price and KCB's management hoped to close the deal by December to make way for a market entry next year. .
ChoicePoint(R) Reports Second Quarter 2007 Results
For the second quarter of 2007, ChoicePoint Inc. (NYSE: CPS - News) reported a 3.3 percent increase in service revenue from continuing operations to $264.0 million, compared to $255.5 million for the second quarter of 2006. Total revenue from continuing operations was $269.4 million in the second quarter of 2007, compared to $260.6 million for the second quarter of 2006. Diluted earnings per share from continuing operations ("EPS") for the second quarter of 2007 was $0.43, compared to $0.40 for the second quarter of 2006. Excluding the other operating charges detailed in the table below, EPS would have been $0.44 for the second quarter of 2007, compared to $0.43 in the second quarter of 2006. The following table provides a reconciliation of EPS excluding other operating charges to EPS calculated in accordance with generally accepted accounting principles ("GAAP") for the second quarter of 2007 and 2006: 2007 Updated Outlook Refer to our attached Summary of Projections for the Year Ended December 31, 2007.
What the Russian papers say
MOSCOW, August 10 (RIA Novosti) Russia's arctic expedition annoys West/ Russia's polar expedition causes more harm than good - scientist/ Georgia hastily wipes out traces of "Russian aggression"/ Does Russia need Iraqi oil?/ Russian debtors will not be allowed to travel abroad Gazeta.ru Russia's arctic expedition annoys West Even the most fervent gung-ho patriots would not dare claim that Russia now has legal rights to the North Pole and its subsoil resources. So why has everyone become so agitated about it? Russia has not made any official claims; and when it does, it will first send its scientific report to the United Nations, not start with a pirate-style takeover. The reason behind such an inadequate response is the West's growing annoyance with Russia, which they take no trouble to hide.
Rutgers probed over $15,000 fee from lender
Law enforcement authorities are investigating whether Rutgers University's athletic department got kickbacks for promoting a private student loan company on its Web site. Rutgers was paid $15,000 for allowing a company named University Financial Services to advertise on its athletic Web site, the school confirmed. The company uses the school's block R logo on a Rutgers red background on the tease to its site. It lists a phone number that spells out the name of Rutgers' sports teams: 877-RU.KNIGHTS. .
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