UPDATE 1-Petropavlovsk sees FY output at lower end of range

LONDON, July 22 (Reuters) – Russian miner Petropavlovsk (POG.L) expects annual output to be at the lower end of the previously announced 670,000-760,000 ounce range after first-half gold production fell 26 percent on planned work at its Pioneer mine.

Gold production fell to 166,300 ounces from 224,600 ounces in the year-earlier period.

The London-listed company also announced that it acquired new mining licences in the Amur and Krasnoyarsk region of Russia.

The miner, which is considering a Hong Kong listing for its iron ore assets, last month launched its first Kuranakh iron ore mine. [ID:nLDE65N0WI]

The first product sales from Kuranakh are expected in August, it said on Thursday.

On June 7, Petropavlovsk said Hong-Kong based investors had agreed to take a $60 million equity stake in the group’s non-precious metals division, valuing the iron ore operations at $860 million. [ID:nLDE65G16Q]

(Reporting by Julie Crust; editing by Victoria Bryan)

Carole King outshines James Taylor at tour closer

LOS ANGELES (Hollywood Reporter) – It’s a good thing the pairing of Carole King and James Taylor was an exhibition rather than a competition because her energy and enthusiasm made it no contest Tuesday at the Honda Center in Anaheim. He was funny and fuzzy all night, but she came to play.

King’s voice never was perfect, but it remains distinctive, and she didn’t shy away from Big Singing — as many of her contemporaries do — on the final night of a three-month tour. Her uninhibited rasp is diametrically opposed to Taylor’s eyes-closed, still-silky strains. And while he recited, she performed.

And what a performance. Showcasing most of her landmark “Tapestry” album and some of the pop classics she penned with ex-husband Gerry Goffin, King was all smiles as she worked the near-sellout crowd. She and Taylor traded lead vocals on almost every other song and sang together on most, but it was her material and delivery that made the nostalgic show so memorable.

Taylor called the closing show of their Troubadour Reunion tour “bittersweet.” And that sentiment extends beyond the boomer Rock Hall of Famers onstage to the concert industry itself. The U.S. jaunt began in early May to coincide with the release of the pair’s CD/DVD “Live at the Troubadour.” The disc was recorded during six shows in November 2007 that helped mark the 50th anniversary of the West Hollywood venue where King and Taylor first played together during the early ’70s. It has sold more than 330,000 copies, spending all 10 of its chart weeks in the top 20.

But few could have foreseen the extent of the tour’s success: grossing more than $60 million while playing to 95% capacity. The secret? A surprising intimacy, a swarm of terrific songs and the genuine camaraderie onstage. The band intros came early because, as Taylor said, “The thing that made this tour authentic for Carole and me is that we have the original band” that played those early Troubadour shows. The stars and guitarist Danny Kortchmar, bassist Lee Sklar and drummer Russ Kunkel acknowledged one another throughout the night with pointed fingers and applause.

But how to even try re-creating the intimacy of the Troubadour? An in-the-round show with a slowly rotating circular stage — one revolution every 15 minutes or so — situated midfloor. It cut the huge arena down to size and gave everyone a good view, aided by a ring of several video screens.

The expertly paced show ran more than 2-1/2 hours, with a 20-minute break. They opened with Taylor’s “Something in the Way She Moves,” with just him, Sklar and King at her piano, tightly grouped as if on some dive’s tiny stage. From there, they traded songs: her gorgeous “So Far Away”; his “Carolina in My Mind,” which began with the headliners beautifully harmonizing; her “Jazzman,” with Kortchmar’s guitar filling in for Tom Scott’s signature sax parts; Taylor’s “Country Road,” which featured a drums-and-voice clap-along break. “(You Make Me Feel Like) A Natural Woman” closed the first set, which was good because it was a show-stopper.

King, appropriately billed first and sporting black tights and spike heels, flirted with the boys in the band as she slinked around the stage singing the classic she reclaimed from Aretha Franklin. The crowd stood.

Three other songs from “Tapestry” — the kind of classic rock you never hear on radio stations that are branded as such — highlighted the second set: “Where You Lead,” with its gospel-tinged opening; the bouncy “I Feel the Earth Move,” accompanied by archival footage of people dancing; and “It’s Too Late,” a standout of the post-psychedelia/pre-disco singer-songwriter era that sounded as good as ever. Its extended piano break reminded of Traffic’s “The Low Spark of High Heeled Boys.” They traded verses, appropriately, on a stirring version of “You’ve Got a Friend,” during which King had a little fun with the lyrics, singing, “Tonight’s the end of this amazing tour, here near the house of the corporate mouse.”

During the final number, Taylor’s “You Can Close Your Eyes,” King put her head on his shoulder. An emotional end to an exceptional evening.

‘Inception’ makes dream debut atop box office

July 18 (Reuters) – So what if “Inception” is incomprehensible?

The costly sci-fi thriller opened at No. 1 at the weekend box office in North America on Sunday, pulling in $60.4 million from moviegoers happy to be vexed by one of the few big original pictures of the summer, according to estimates issued by distributor Warner Bros. Pictures.

The movie, starring Leonardo DiCaprio as a thief who steals secrets from deep within people’s subconscious, was directed by Christopher Nolan, the British filmmaker responsible for the last two “Batman” movies.

Warner Bros., a unit of Time Warner Inc (TWX.N), partnered on the $160 million project with studio-based financier Legendary Pictures, and they spent more than $100 million on the marketing. Pundits had forecast an opening in the $50 million to $60 million range.

Critics heaped praise on the movie, even if many of them were not exactly sure what it was about, or advised that it might require multiple viewings.

In a caustic review, the Wall Street Journal suggested “Inception” was “impervious to criticism, simply because no one short of a NASA systems analyst will be able to articulate the plot.”

The weekend’s other big new release failed to whip up much magic: “The Sorcerer’s Apprentice” came in at No. 3 with just $17.4 million. After getting a two-day head start by opening on Wednesday, the Walt Disney Co (DIS.N) live-action release has earned $24.5 million to date. Pundits had forecast a $30 million haul for the first five days.

The Nicolas Cage fantasy reportedly cost about $150 million to make, though Disney never confirms budgets. Critics ripped the movie, and there was reportedly little pre-opening awareness among moviegoers.

Last weekend’s champion, the family cartoon “Despicable Me,” slipped to No. 2, but sales data were not immediately available from its distributor, General Electric Co’s (GE.N) Universal Pictures.

(Reporting by Dean Goodman; Editing by Doina Chiacu)

UPDATE 1-Premier Oil sees H1 output rising 17 pct

July 15 (Reuters) – Britain’s Premier Oil (PMO.L) said it expects average first-half production to rise 17 percent and that its full-year production remains in line with previous guidance.

Estimated average group production for the first half was 46,600 barrels of oil equivalent per day (boepd) while forecast full year production continues to be around 44,000 boepd.

“Premier continues to make good progress towards its 75,000 boepd production target for 2012,” said Chief Executive Simon Lockett. “Our major projects are progressing well and the recent Catcher discovery will now move rapidly into development.”

Earlier this month, Premier raised its reserves estimate for the Catcher/Catcher East area in the UK Central North Sea to a range of 60 million to 100 million barrels of oil. [ID:nLDE6640AA]

(Reporting by Julie Crust; editing by James Davey)

China Kailuan eyes 50 pct more coal output in 2010

CHINA, July 6 (Reuters) – China’s coal producer Kailuan Group plans to raise coal output by nearly 20 million tonnes, or 50 percent, to 60 million tonnes this year, a top company official said on Tuesday.

The group produced 40.45 million tonnes of coal in 2009.

Kailuan aims to further increase production to 100 million tonnes by 2015, Chairman Zhang Wenxue told reporters on the sidelines of a McCloskey coal conference.

The parent of Kailuan Energy Chemical (600997.SS) will also increase coal purchases, mainly coking coal, from overseas markets, though the exact volumes are subject to price changes in the second half of the year, Zhang said.

“There will be change in types of imported coal. Imports of hard coking coal will gradually increase,” Zhang said.

He said the company had planned two coal reserve bases along the Bohai Bay with handling capacity of 100 million tonnes per year and construction would start very soon.

“The base at Caofeidian will handle thermal coal, and the one at Jingtang Port to handle coking coal.”

Zhang said the firm has accumulated 4.5 billion tonnes of coal resources in northwestern Xinjiang region, where many other big Chinese firms have also committed huge investments in coal, power, oil and development of other resources. (Reporting by Rujun Shen and Aizhu Chen; Editing by Jacqueline Wong)

UPDATE 2-Premier ups Catcher/Catcher East reserves estimate

* Ups reserves estimate to 60-100 mln barrels vs 50-80 mln

* Catcher SW Appraisal well finds oil-bearing sandstones

* Premier, co-venturers to buy more surveys over block 28/9

* Premier shares up as much as 2.8 pct to 8-1/2 month high

* Shares in operator EnCore jump 21 pct to record

(Adds share price, analyst comment)

LONDON, July 5 (Reuters) – Britain’s Premier Oil (PMO.L) raised its reserves estimate for the Catcher/Catcher East area in the UK Central North Sea for the second time in two weeks following further positive drilling results.

It upgraded the Catcher/Catcher East reserves estimate to a range of 60 million to 100 million barrels of oil from the 50 to 80 million barrels estimated last Monday.

Premier said the Catcher South West Appraisal (28/9-1Y) well found excellent quality oil-bearing sandstones and that initial analysis indicates 68 feet of net hydrocarbon pay over 261 feet.

“We will move forward rapidly with plans to assess the remaining exploration potential in the 28/9 licence and to determine the future development options for the Catcher discovery,” said Premier Chief Executive Simon Lockett.

Premier holds 35 percent of the licence while operator EnCore Oil (EO.L) has 15 percent, Wintershall (BASF.DE) 20 percent, and Nautical Petroleum (NPE.L) and Agora Oil & Gas 15 percent each.

Premier and its co-venturers plan to acquire additional surveys over potential drilling locations in block 28/9 and to develop further exploration wells this year or early in 2011.

Shares in FTSE-250 company Premier rose as high as 1,360 pence on Monday, the highest price since mid-October, while EnCore shares jumped 21 percent to a record high of 70 pence.

“Of equal significance as the reserves upgrade is the fact that unlike Catcher and Catcher East, Catcher SW did not have strong amplitude support” in the seismic surveys, said Richard Rose, analyst at Oriel Securities.

“This has therefore derisked Catcher North which is a potential extension to the main discovery and is also not amplitude supported.”

The Catcher well, located about 110 miles off the coast of Aberdeen, was spudded on May 17. The first drilling update on June 3 estimated reserves of 25-50 million barrels of oil.

(Reporting by Julie Crust; editing by Matt Scuffham and Michael Shields)

Interxion Reports Q1 2010 Results

AMSTERDAM–(Business Wire)–
Interxion, a leading European provider of carrier-neutral colocation data centre
services, today released its unaudited numbers for the three months ended 31
March 2010.

Highlights:

* Revenue increased by 18% to €47.8 million (Q1 2009: €40.4 million)
* Adjusted EBITDA increased by 24% to €17.4 million (Q1 2009: €14.1 million)
* Adjusted EBITDA margin improved to 36.5% (Q1 2009: 34.9%)
* Net loss of €4.7 million (Q1 2009: profit €5.9million)
* Raised €260 million through senior secured notes and new revolving credit
facility which replaced an existing €180 million credit facility

Interim Financial Statements

To view Interxion Holding NV`s Interim Report for the three months ended 31
March 2010, please visit the investor section of Interxion`s website at
www.interxion.com and click on “2010 Q1 Interim Report”.

About Interxion

Interxion is a leading provider of carrier-neutral colocation data centre
services in Europe, serving over 1,100 customers through 27 data centres in 11
European countries. Interxion`s uniformly designed, energy-efficient data
centres offer customers extensive security and uptime for their mission-critical
applications. With connectivity provided by 350 carriers and ISPs and 18
European Internet exchanges across its footprint, Interxion has created content
and connectivity hubs that foster growing customer communities of interest. For
more information, please visit www.interxion.com.

Adjusted EBITDA

EBITDA is defined as operating profit plus depreciation, amortization and
impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude
share-based payments and exceptional and nonrecurring items and to include share
of profits (losses) of non-group companies. We present EBITDA and Adjusted
EBITDA as additional information because we understand that they are measures
used by certain investors and because they are used in our financial covenants
in our €60 million revolving credit facility and €200 million 9.50% Senior
Secured Notes due 2017. However, other companies may present EBITDA and Adjusted
EBITDA differently than we do. EBITDA and Adjusted EBITDA are not measures of
financial performance under IFRS and should not be considered as an alternative
to operating profit or as a measure of liquidity or an alternative to net income
as indicators of our operating performance or any other measure of performance
derived in accordance with IFRS.

Financial Dynamics
James Melville-Ross/Edward Bridges/Haya Herbert-Burns
SB: +44 (0) 207 831 3113
Email: Interxion@fd.com

Copyright Business Wire 2010

Woori and Blackstone in stake sale talks: report

(Reuters) – South Korea’s Woori Finance Holdings was in discussions with U.S. private equity house Blackstone Group over the acquisition of a stake in the state-owned Korean bank, reports said on Thursday.

Deals

The government, which holds a 57 percent stake in Woori worth around $6 billion, plans to announce a detailed sales plan for the country’s No.3 banking group in coming weeks. Industry officials do not expect it to be sold as a single block.

Woori Chief Executive Lee Pal-seung had met Blackstone CEO Stephen Schwarzman on Tuesday in New York and had asked the U.S. firm to participate in the auction, the Korea Economic Daily and MoneyToday said, both in unsourced reports.

A Woori spokesman said the group could not confirm whether privatization was discussed, and said Lee had met Schwarzman as a business partner because a Woori unit has invested $60 million in a private equity fund run by Blackstone.

(Reporting by Miyoung Kim; Editing by Chris Lewis)

Woori, Blackstone in stake sale talks – report

June 24 (Reuters) – South Korea’s Woori Finance Holdings (053000.KS) was in discussions with U.S. private equity house Blackstone Group (BX.N) over the acquisition of a stake in the state-owned Korean bank, reports said on Thursday.

Stocks | Mergers & Acquisitions | Global Markets | Funds News | ETFs News | Private Capital

The government, which holds a 57 percent stake in Woori worth around $6 billion, plans to announce a detailed sales plan for the country’s No.3 banking group in coming weeks. Industry officials do not expect it to be sold as a single block.

Woori Chief Executive Lee Pal-seung had met Blackstone CEO Stephen Schwarzman on Tuesday in New York and had asked the U.S. firm to participate in the auction, the Korea Economic Daily and MoneyToday said, both in unsourced reports.

A Woori spokesman said the group could not confirm whether privatisation was discussed, and said Lee had met Schwarzman as a business partner because a Woori unit has invested $60 million in a private equity fund run by Blackstone. (Reporting by Miyoung Kim; Editing by Chris Lewis)

UPDATE 1-Coal firm Ncondezi lists in London, shares rise

LONDON, June 10 (Reuters) – Mozambique coal company Ncondezi (NCCL.L) shrugged off weaker markets with a successful London initial public offering on Thursday, raising $52 million to help develop its mines.

Shares in Ncondezi Coal Company Ltd. rose 7.3 percent to 132 pence in thin trading by 0930 GMT, compared to an issue price of 123 pence. The UK mining index .FTNMX1770 was up 1.0 percent.

Thursday’s gain gave the AIM-listed firm a market capitalisation of $230 million.

On June 2, Brazilian iron ore firm Ferrous Resources Ltd postponed a planned listing due to a sharp fall in mining stocks. [ID:nLDE6511ZR]

Ncondezi had hoped to raise up to $60 million, but Chief Executive Graham Mascall said he was happy with the result considering volatile markets.

The UK mining index has shed 21 percent since touching a peak on April 6 on worries about European debt, a slowdown in Chinese metals demand and a proposed Australian mining tax.

“Despite the choppy markets we had a lot of interest on the roadshows… certainly the $52 million we have is a good positive sign from the institutions that invested in us,” Mascall told Reuters.

FIRST OUTPUT BY 2015

The company will use the funds for more exploration work over the next 18 months, which will form the basis for a final feasibility study due by late 2012.

An initial study pegged the cost of developing a mine at $376 million to produce 10 million tonnes a year of thermal coal used to fuel power stations.

The firm was likely to produce 2.5 million tonnes in a first phase, costing $200-$250 million, and would probably use a mix of funding including new equity, project equity, mezzanine debt and upfront payments from future customers, Mascall said.

Ncondezi is planning to export to the Indian market, with first production by late 2014 or early 2015, later ramping up to 10 million tonnes. [ID:nLDE65113K]

It is planning to produce coal in the Tete province of Mozambique, in the same area where mines are being developed by Brazilian mining giant Vale (VALE5.SA) (VALE.N) and Riversdale Mining (RIV.AX), which has a market value of $1.6 billion.

“We see realistic scope to replicate its neighbours’ exceptional value growth, particularly if the region’s signature coking coal potential is found,” said a note by Liberum Capital, the firm’s adviser and broker for the placing. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a map of Mozambique showing Ncondezi’s, Vale’s and Riversdale’s properties plus road and river links, click on: here ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ (Reporting by Eric Onstad; Editing by Tom Pfeiffer)

Glaxo settles more Avandia lawsuits in U.S.

(Reuters) – GlaxoSmithKline Plc has settled thousands more lawsuits brought by patients alleging its Avandia diabetes drug caused heart attacks, in a move that may defuse potentially massive claims over the medicine.

U.S. | Health

A company spokeswoman said on Tuesday that consolidated cases which had been due to come to court in Philadelphia this month had been settled. She declined to give further details and said the terms remained confidential.

The first product liability case involving Avandia will now go to court in the United States in October, she added.

The move follows the separate settlement of some 700 cases last month for about $60 million.

Analysts estimate Glaxo had faced a total of 13,000 claims for damages involving Avandia, of which around 5,000 were consolidated in Philadelphia, and there had been fears it could face damages of up to $6 billion.

However, last month’s relative modest settlement deal and the latest settlement in Philadelphia suggests the amount paid out by the British-based drugmaker is likely to be a lot lower.

“This implies that close to half of the cases have now been settled and should ease some fears about Vioxx-type liabilities,” said Deutsche Bank analyst Mark Clark.

He believes the cost is likely to be comfortably covered by the company’s 2 billion pounds ($2.9 billion) of litigation provisions.

And the total could be a lot less than that. Assuming the average pay-out rate of around $86,000 per claimant for the first 700 cases was applied to all 13,000, the amount would be just over $1.1 billion.

Merck & Co Inc agreed a $4.85 billion settlement with plaintiffs in 2007 after its arthritis pain drug Vioxx was pulled from the market in 2004.

Commercially, Avandia is no longer a major product for Glaxo, with sales declining sharply following controversy over the drug’s heart risks in 2007, and the medicine is set to lose exclusivity in the United States in 2012.

But worries about liability claims have spiked up since February, when two U.S. Senators published a highly critical report on Avandia. A Food and Drug Administration advisory panel will consider possible further restrictions on the drug in July.

In the first quarter of 2010, Glaxo reported increased legal costs of 210 million pounds, up from 51 million in the year-ago period, which it said reflected progress toward settling a number of cases. Glaxo has consistently defended the safety record of Avandia and says it acted properly in communicating with regulators and physicians about the medicine’s potential cardiovascular risks.

($1=.6852 Pound)

(Editing by Jon Loades-Carter)

Fly gut bacteria may help fight sleeping sickness

Washington, May 11 (ANI): Scientists in France have discovered a new bacterial species in the gut of the fly that transmits African sleeping sickness. They say that the bacteria could be engineered to kill the parasite that causes the disease.

According to researchers from IRD, the French Research Institute for Development in Montpellier, France, the study could lead to new approaches to control this fatal infection that is becoming resistant to drug therapy.

As part of the research, the authors isolated the novel bacterium from the midgut of the tsete fly that also harbours the protozoan Trypanosoma brucei gambiense (Tbg), responsible for Human African Trypanosomiasis, known as sleeping sickness.

The new bacterium was named Serratia glossinae after genomic analysis showed it was closely genetically linked to other bacteria in the Serratia genus.

Interestingly one of the species in this genus is able to kill another trypanosome that causes Chagas” disease in South America.

This has prompted the group to hypothesise that the Serratia group of bacteria has the potential to be exploited to treat trypanosomiasis.

More than 60 million people are exposed to African sleeping sickness in Sub-Saharan Africa. The causative agent, Tbg, can be transmitted through the bites of infected flies that feed on human blood.

The parasite multiplies in the blood of infected individuals and may eventually invade the brain. Infections by Tbg are often asymptomatic for months or years and can remain undetected until patients are in advanced stages of the disease. Without treatment, these infections are fatal.

The research could contribute to new treatment strategies that are desperately needed to fight African sleeping sickness. Current drugs are expensive and are not always effective due to increasing resistance of Tbg.

“Our work could lead to an alternative vector-based approach that exploits selected strains of bacteria naturally present in the fly”s gut to either kill the parasite, or prevent it from establishing itself in the gut,” said Dr Anne Geiger, lead author of the study.

The study has been published in the International Journal of Systematic and Evolutionary Microbiology. (ANI)

India to pump in more aid for war ravaged Sri Lanka: Rao

New Delhi, May 11 (ANI): Foreign Secretary Nirupama Rao on Monday said that New Delhi would continue to give financial aid to Sri Lanka for rehabilitation and reconstruction of the war-ravaged Tamil dominated northern areas.

“Prime Minister Dr. Manmohan Singh has announced an assistance package of Rupees 500 crores for the rehabilitation and resettlement of the north last year,” said Rao, delivering the inaugural address to a two-day seminar on Sri Lanka in New Delhi.

“We have in addition extended the lines of credit worth 416 million dollars for the restoration of railway infrastructure and other infrastructure projects in northern Sri Lanka. Another 382 million dollars are in the pipeline,” she added.

“The end of military conflict in Sri Lanka has presented the country with many challenges, and we should not underestimate any of these challenges. The most immediate among them is the plight. They have come out after decades of conflict in northern and eastern Sri Lanka, scarred by their experience and seared by violence in their daily lives,” she added.

In October last year, India offered Sri Lanka 100 million dollars to help war refugees return home and rebuild the country”s ravaged north.

A similar aid package was given by New Delhi in July 2009, after the Sri Lankan Government announced victory in a 25-year war against Tamil Tiger separatists.
The Indian government faces pressure to protect Sri Lankan Tamils, closely linked to about 60 million Tamils in Tamil Nadu.

India, which once wielded undisputed leverage over the Sri Lankan conflict, maintained a largely hands-off approach over the last two years because of the concerns of Tamils at home.

New Delhi is now keen to ensure that it retains influence in the island and keeps rivals China and Pakistan at arm”s length. (ANI)

Real Madrid to use Ronaldo as bait for bagging Rooney

London, Apr 17(ANI): Spanish football giants Real Madrid are ready to use their winger Cristiano Ronaldo to lure his former team-mate Wayne Rooney to the Bernabeu.

Madrid is plotting to bag Rooney, and will make a staggering 150 million pound bid in this summer’s transfer window.

According to reports, Madrid will offer 90 million pounds to Manchester United and a 60 million pounds five year deal to Rooney.

The 24-year-old is in the form of his life with 34 goals this season, and Madrid believes that Ronaldo could help tempt Rooney to switch, The Sun reports.

The club is also determined to get back former manager Capello after the World Cup.

Capello had managed Madrid twice before (in 1996-1997 and 2006-2007), winning La Liga on both occasions.

Despite Capello being contracted to England until 2012, Real Madrid President Florentino Perez has shown previously that he is not bothered by the contracts, The Sun reports.

Perez is driven by the thought of restoring Rooney’s devastating partnership with Ronaldo under the leadership Capello brings. (ANI)

Real Madrid eyeing spectacular 150 million pound swoop for Rooney, wants Capello back too

London, Apr 16(ANI): Spanish football giants Real Madrid are reportedly plotting to bag England striker Wayne Rooney and manager Fabio Capello.

According to reports, Madrid will make a staggering 150 million pound bid for Rooney, offering Manchester United 90 million pounds and the player 250,000 pounds-a-week for five years.

The 24-year-old is in the form of his life with 34 goals this season, and Madrid will tempt him with the 60 million pound deal, matching former team-mate Cristiano Ronaldo’s wage structure.

The club is also determined to get back former manager Capello after the World Cup.

Capello had managed Madrid twice before (in 1996-1997 and 2006-2007), winning La Liga on both occasions.

Despite Capello being contracted to England until 2012, Real Madrid President Florentino Perez has shown previously that he is not bothered by the contracts, The Sun reports.

Perez is driven by the thought of restoring Rooney’s devastating partnership with Ronaldo under the leadership Capello brings. (ANI)

Element Hotels Send an Earth Day Message with Bottles Buildings

Starwood’s Element Hotels in the United States will be celebrating Earth Day weekend in a unique way this year.

Guests who bring in 10 single-use plastic bottles April 22 to 25 will get a free night during that weekend. The “I Am Not a Plastic Package” promotion is limited to the first 100 guests who book through the brand’s toll-free number and mention the word “GOGREEN.”

Element, the 100 percent LEED certified brand of Starwood Hotels & Resorts Worldwide, has hotels in Lexington, Mass., Las Vegas, Baltimore, Denver, Dallas, Houston and Ewing, N.J. Additonal Element hotels will open later this year in New York City and Omaha, Neb.

Starwood’s promotion is a great way to bring attention to the waste problem associated with water sold in plastic bottles. As written about in one of my previous columns, about 60 million water bottles are discarded daily. Only about 12 percent of them are recycled.

Producing those bottles burns 1.5 million barrels of crude oil annually. Bottled water is 500 to 1,000 times more expensive than tap water and not necessarily safer to drink.

“We thought this would be a fun, timely way to engage guests on recycling, which has been in practice at Element from day one,” said Brian McGuinness, senior vice president of Specialty-Select Brands for Starwood. “Element guests keep telling us they want to take an active role in our efforts around environmental responsibility, and this is a very rewarding way for them to do it.”

As part of its promotion, Element will offer a complimentary reusable water bottle at check-in to guests participating in the “I Am Not a Plastic Package” campaign.

Glenn Hasek is the publisher and editor Green Lodging News, where the original version of this post appeared.

Govt banking on Darwin air travel to double

The Northern Territory Government is hopeful that Darwin’s airline passenger traffic will double in four years despite a refusal by Qantas and Jetstar to help pay for the airport’s expansion.

The airlines knocked back the airport’s $60 million expansion plan, refusing to pay higher fees.

Launching the Territory Government’s aviation strategy today, Tourism Minister Malardirri McCarthy says she still expects Darwin’s air traffic to double by 2014.

She admits airlines make commercial decisions despite Government subsidies

“Often you get the airlines you want and sometimes you don’t,” Ms McCarthy said.

Airport chief executive, Ian Kew says $10 million has been spent on two new airplane parking bays to help cope with an expected 10 percent growth in passengers next year.

“We would expect to see an extra 200,000 odd passengers,” Mr Kew said.

But he says without millions more spent on Customs and Immigration services and baggage facilities, there will be bad peak hour congestion.

Earlier this year Ms McCarthy complained to Jetstar about the airline’s cancelled and delayed flights.

But she says the Government’s decision to entice Jetstar to Darwin with subsidies was not a mistake, and it is now trying to attract other carriers.

“We would like to see Malaysian Airlines [in Darwin] but it is not the only airline. Naturally there have been letters sent to Etihad,” Ms McCarthy said.

Mr Kew said he also backed the Government’s decision to target Jetstar and has not complained about its service standards.

Drought-hit farmers offer up irrigation entitlements

The prolonged drought has prompted 60 farmers in south-west New South Wales to offer their irrigation entitlements to the Federal Government under its buyback program.

They are offering to sell about 42,000 megalitres of water entitlements along irrigation channels in the Wakool area west of Deniliquin.

The estimated sale price is between $50 million to $60 million.

Murray Irrigation Limited has taken the offer to the Federal Government and its chairman, Stewart Ellis, says some of the sellers may retire rather than continue farming without water.

“They’ve assessed their own situations and given the tough years of drought and low water allocations, we’ve had two years of zero and then a 9 and now a 22 per cent allocation this year, so they’ve been particularly tough years on the farm,” he said.

“They’ve come forward on a voluntary basis, put forward their own proposal which has been assessed by Murray Irrigation and then put together into a proposal and taken to the Commonwealth Government for consideration.

“What the people are looking for is something over and above the market price of water entitlements.

“They’re not just looking at selling all of their water.

“They’re actually selling all of their water and disconnecting their farms permanently from a connection to our channel system, so they will truly be dryland farms in the future if this proposal is accepted.”

Mr Ellis says the sale would mean the closure of more than 100 kilometres of channels.

“The proposal is that the infrastructure like within Murray Irrigation’s channel system, the bridges, culverts, regulators, would be removed and the channels actually filled in, so it is a physical disconnection from the system,” he said.

“We would say this type of buyback is a more strategic approach because all of these schemes that have come forward for closure are either on the end of channel systems or on the end of spur channels, so there’s no-one actually irrigating on the channel below them so we can actually close down that section of channel, so in effect this type of buyback should be helping the rest of remaining irrigators because it leaves Murray irrigators with a smaller footprint and a more efficient delivery system as a result.

“We’re expecting something back from the Government this week and then we have a meeting arranged with these proponents on the 12th of April, so whatever the offer that comes from the Government will be passed onto the people, to the proponents of these shutdowns.

“Then we’ve got this meeting arranged on the 12th to ascertain how many of them want to be part of the deal and whether we’ve got a deal going forward.”

Local councils can now pursue lost millions

Several local government councils have had a victory in the High Court, allowing them to pursue claims against Lehman Brothers in Australia and overseas.

The City of Swan says the win will open the door for Australian creditors to recover up to half the money they lost in the collapse of investment bank, Lehman Brothers.

Six WA councils including the City of Melville, the City of Swan and the City of Albany lost $60 million through the Lehman failure.

The Albany City Council had $3.2 million invested in the group.

Albany’s acting Chief Executive Peter Madagan says the council could not have foreseen the global financial crisis.

“In hindsight, given the global financial crisis at the time, no it’s not the greatest of investments but who was to forsee that?”

Under a previous deal struck with administrators, creditors of the Australian branch of Lehman were guaranteed some money but prevented from suing Lehman’s overseas companies.

But, councils from Western Australia and New South Wales were not happy with the deal and took it to the High Court, which ruled in their favour and cleared the way for Australian creditors to sue the company’s overseas arm.

The City of Swan’s Colin Cameron says the result is good news for ratepayers.

“Very pleased with the outcome in the High Court and I think it’s a win for the ratepayers of the City of Swan and many other councils and other institutions.

“Without it, we’d be getting somewhere between two and ten cents in the dollar and this certainly opens the way for us to receive significantly more than that.”

Mr Cameron says the Council must prove that it has a claim as a creditor before it is entitled to any proceeds from the liquidation of Lehman Brothers.