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Europe stocks struggle, overshadowed by Greece

May 17, 2012 By admin Leave a Comment

MADRID (MarketWatch) — European stock markets pushed lower on Thursday, with banks out in front of the losses, amid a Spanish bond auction that showed rising borrowing costs, while persistent worries about Greece overshadowed the market, .

The Stoxx Europe 600 index XX:SXXP -1.05% extended an earlier fall, off 0.7% to 242.55, en route to a fourth-straight day of losses. Germany is observing a public holiday, though markets are open, while Swiss and most Nordic markets are closed for a holiday.
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Stocks suffer fourth-straight drop

The Dow Jones Industrial Average fell for a fourth-straight day as confusion over Greece’s political future trumped firm U.S. economic data. Chris Dieterich has details on The News Hub. Photo: Reuters.

Stoxx and FTSE 100 index UK:UKX -1.38% heavyweight Vodafone Group PLC VOD -1.98% UK:VOD -.00% fell 1.3%. Chief Executive Marten Pieters said Thursday the company plans to list its Indian venture on a local exchange, but no date is set yet.

Spanish stocks came under pressure after data showed a 0.4% fall in gross domestic product in the first quarter on an annual basis.

As well, at an auction of shorter-dated bonds, the Spanish government raised its desired maximum amount, but had to pay much higher costs. Yields for the 10-year Spanish government bond ES:10YR_ESP +0.53% rose 2 basis points to 6.28%, according to FactSet Research. Read more on Spanish bond auction

The Spain IBEX 35 index XX:SXXP -1.05% fell nearly 2% to 6,487, led by a 4% tumble for BBVA SA BBVA -0.81% ES:BBVA -3.39% and a 3.3% fall for Banco Santander SA ES:SAN -2.52% STD -2.41% .

Markets remain unnerved by Greece contagion to Italy and Spain, said Nicolas Spiro, managing director of Spiro Sovereign Strategy. “The Greek crisis is placing huge strain on peripheral euro-zone bonds and European bank shares. Spain is on the sharp end of these fears,” he said in e-mailed comments.

“The Spanish government itself can do very little to shore up confidence in the near term. Unless there is a bold and decisive response on the part of the euro zone, sentiment towards Spain will deteriorate further. This is a very slippery slope right now,” said Spiro.

Added Atif Latif, director of trading at Guardian Stockbrokers, in e-mailed comments: “Market concern suggests that bank exposure seems to potentially be the main reason for the weakness and short-term performance will depend on the action from politicians that are now badly needed.

“There is some chatter on a collective central bank meeting to make a market statement on the best way to deal with this crisis,” he said.

The Athens General Index GR:GD -2.02% fell 1.7% to 545.99, while the FTSE MIB Italy index XX:FTSEMIB -2.03% dropped 2% to 12,994.70, with shares of UniCredit SpA IT:UCG -5.35% down 4.3%.

Yields on Italy’s 10-year government bonds IT:10YR_ITA +0.51% rose 11 basis points to 5.83%, according to FactSet.
Resources, banks slip

Markets were hoping for a bounce on Thursday owing to overseas factors. “With positive comment from the Federal Reserve overnight about further easing if required, plus Japan’s first-quarter GDP coming in at 4.1%, the performance of equities offered some hope to Europe,” said David Buik, markets commentator at BGC Partners, in e-mailed comments.

“But Greece came and took the wind out of its sails yet again and will continue to do so until attempts are made to crystallize the problems and deal with them,” said Buik.

The French CAC 40 index FR:PX1 -1.15% fell 0.9% to 3,021.45, with Credit Agricole SA FR:ACA -3.99% down 4.5% and Societe Generale SA FR:GLE -3.61% losing 3.9%.

The German DAX 30 index DX:DAX -0.94% fell 0.6% to 6,347.91, with Deutsche Bank AG DE:DBK -4.08% DB -1.86% down 2.5% and Allianz SE DE:ALV -2.81% dropping 1.8%.

The FTSE 100 index UK:UKX -1.38% fell 1% to 5,348.21, as Vodafone fell and banks and resource stocks came under pressure. Shares of BP PLC BP 0.00% UK:BP -1.45% lost 1%, while Royal Dutch Shell PLC RDS.B -0.33% UK:RDSB -1.73% fell more than 1%.

Miner Xstrata PLC UK:XTA -4.19% dropped 3.6%. UK:RDSB -1.73% UK:RDSB -1.73%

Barclays PLC UK:BARC -4.07% BCS +0.93% slid 4% and Standard Chartered PLC UK:STAN -2.71% dropped 2.2%.

Filed Under: International News Tagged With: auction, Bond, Euro Zone Bonds, European Stock Markets, ftse 100 index uk, index, Plc, Vodafone Group Plc

Andhra Bank Raises Rs 600 cr Via Bonds

December 25, 2009 By admin Leave a Comment

Andhra Bank Raises Rs 600 cr Via Bonds

Andhra Bank has raised Rs 600 crore by selling bonds in two tranches in current month.

The bank raised Rs 280 crore by issuing upper Tier-II bonds. The annual coupon of for this issue was 8.70 per cent. The issue opened on December 14, 2009 and closed on December 15, 2009. “It was fully subscribed on the date of the opening of the issue,” the company said in a notification to the National Stock Exchange.

Another Rs 320.00 crore were raised by issuing lower Tier-II bonds. This issue opened on December 15, 2009 and closed on December 21, 2009. The coupon rate was 8.55 per cent payable annually.

The book runners for the issue were Andhra Bank Merchant Banking Division, Darashaw & Company, AK Capital Services, Axis Bank and ICICI Bank.

-Business Standerd.

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Ashlee Simpson credits yoga for close bond with her child

September 12, 2009 By admin Leave a Comment

Washington, Sept 11 (ANI): Singer Ashlee Simpson-Wentz says yoga has helped her bond with her nine-month-old son.

Contactmusic quoted her as saying: “Your body is changing, and it’s such an amazing time to feel that connection. I did prenatal yoga, which was a nice way to mellow down and focus on me and Bronx. Being pregnant was the healthiest I’ve ever been in my life. Except for the cupcakes!”

The 24-year-old star said the nine-month pregnancy prepared her for motherhood, which she calls “empowering”.he told Redbook magazine: “I’ve grown up so much. The great thing about being pregnant is that you have nine months and it really does prepare you.

“Being a mom’s so empowering and incredible. I’m one of those people who believes that life brings things to you at a certain time for a certain reason, and if you just go with it, that’s where the best moments come from.” (ANI)

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World’s smallest parrot filmed in wild for first time

September 8, 2009 By admin Leave a Comment

London, September 8 (ANI): The world’s smallest parrot, which is not much bigger than an adult person’s thumb, has been filmed in the wild for the first time.

According to a report by BBC News, an expedition team filming in Papua New Guinea for the BBC programme ‘Lost Land of the Volcano’ caught two of the buff-faced pygmy parrots on camera.

Another adult, which weighs less than half an ounce, was also trapped by the expedition team’s bird expert.

On average, buff-faced pygmy parrots (Micropsitta pusio) stand less than 9cm tall and weigh 11.5g (0.41oz).

They are found across the northern lowlands of the island of New Guinea from the west to the southeastern tip, up to an altitude of around 800m.

Males and females look similar, but females have less prominent markings on the head.

The birds have green feathers with yellowish plumage on their underparts; while their cheeks, face, and crown are more buff-coloured, hence their name.

BBC wildlife cameraman Gordon Buchanan first discovered a tiny nest belonging to two parrots deep within pristine rainforest.

The birds nest in termite mounds, using their beaks and claws to dig their way in before laying eggs in the hole created.

Buchanan staked out the nest from within a camouflaged hide, and was rewarded after a long wait when two birds returned.

He filmed the pair at their nest entrance, as the male and female reinforced their bond by rubbing against one another.

Later, another parrot was trapped unharmed by Dr Jack Dumbacher, an ornithologist from the California Academy of Sciences in San Francisco, US, who had accompanied the BBC expedition team.

Buff-faced pygmy parrots do not eat fruit and nuts but lichen and fungi.

However, so little is still known about their dietary habits that it has proved difficult to rear the birds in captivity. (ANI)

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Nepal arrests kingpin of attack on Pashupatinath priests

September 6, 2009 By admin Leave a Comment

Kathmndu, Sep 5 (ANI): The Nepal Government on Saturday arrested the Maoists leader who led the attacks on Indian priests and provided a personal security officer to the chief priest of the famous Pashupatinath shrine.

The Nepalese Government has also deployed an extra-armed platoon of security forces in and around the shrine.

In New Delhi, the Ministry of External Affairs (MEA) spokesperson, Vishnu Prakash said: “The Nepal Government has told us that the ringleader of the attack has been arrested and policemen have been posted outside the temple. The head priest has also been given a personal security officer.”

Earlier in the day, speaking to the media in Bangalore, External Affairs Minister, S.M. Krishna reacted strongly to the attack on two Indian priests at the famous shrine in Kathmandu, and asked the Nepal Government to ensure safety and security of the priests.

Krishna also said, “India shares historical bond with Nepal. In Kashi the priests from Nepal perform the poojas and in Pashupatinath, the Indian priests. It is a tradition being followed for centuries.”

” The Maoist elements in that country are pressurizing the government and temple authorities against continuing the tradition,” Krishna added.

Meanwhile, the Indian Ambassador to Nepal, Rakesh Sood took the matter with Nepal Home Minister Bhim Bahadur Rawal and Culture Minister Sarat Singh Bhandari and registered strong protest against the attack on Saturday.

It was reported that, two priests -Girish Bhatt and Raghavendra Bhatt belonging to the Karnataka-were severely thrashed and their clothes and sacred thread cut by dozens of Maoists on Thursday in Kathmandu. The priests were badly injured in the attack.

The police and temple authorities with the help of the locals rescued the priests from the attackers, sources said. (ANI)

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Krishna asks Nepal to ensure safety of Indian priests

September 5, 2009 By admin Leave a Comment

Bangalore, Sep 5 (ANI): Minister of External Affairs (MEA) S.M. Krishna on Saturday reacted strongly to the attack on two Indian priests of the famous Pashupatinath Temple in Kathmandu, and asked Nepal Government to ensure safety and security of the priests.

Speaking to reporters here, Krishna said “The Government of India is in touch with the Nepal Government and asked it to ensure security to the priests of Pashupatinath Temple.”

Krishna said that the authorities of the Pashupatinath Area Development Board informed him that, the Board has also put security cover in and around the temple premises and also provided security to the priests.

Krishna also said, “India shares historical bond with Nepal, in Kashi the priest from Nepal perform the poojas and in Pashupatinath it is the Indian priests. It is a tradition being followed from centuries.”

“The Maoist elements in that country are pressurizing the Nepalese Government and temple authorities against the continuing the tradition,” he added.

Meanwhile, in Kathmandu, taking a serious view of the incident, Indian Ambassador to Nepal Rakesh Sood took the matter with Nepal Home Minister Bhim Bahadur Rawal and Culture Minister Sarat Singh Bhandari on Saturday.

The Nepal Ministers have assured Sood that steps will be taken to ensure safety of the priests.

Earlier, it was reported that, two priests -Girish Bhatt and Raghavendra Bhatt belonging to the Karnataka-were severely thrashed and their clothes and sacred thread cut by dozens of Maoists on Thursday in Kathmandu. The priests were badly injured in the attack.

The police and temple authorities with the help of the locals rescued the priests from the attackers, sources said. (ANI)

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Madonna joins Israeli PM for Jewish Sabbath celebrations

September 5, 2009 By admin Leave a Comment

Washington, September 5 (ANI): Madonna reportedly joined Israeli Prime Minister Benjamin Netanyahu and his family to celebrate the Jewish Sabbath.

The Queen of Pop, who arrived in the country for two concerts as part of her ‘Sticky and Sweet’ world tour, purportedly witnessed the traditional Friday evening ritual with the leader.

The singer was said to have spent two hours at the politician’s home, lighting candles and delivering blessings, reports Contactmusic.

Madonna apparently shares a special bond with the Jewish state as she’s a devout follower of Jewish mysticism Kabbalah.

She was previously reported to have taken on a Hebrew name, Esther, and made private pilgrimages in 2004 and 2007. (ANI)

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79.5-kms-long Ganesha Chathurthi convoy sets record in Malaysia

August 25, 2009 By admin Leave a Comment

Kuala Lumpur, Aug. 24 (ANI): Malaysia’s longest convoy of 213 lorries participated in Vinayagar Chathurthi celebrations on Sunday, marking the birthday of Hindu Lord Ganesha.

The 79.5 kilometres long convoy, which included an elephant to signify the deity, achieved a new feat in the Malaysia Book of Records.

Hundreds of devotees walked beside the lorries, which had been decorated with portraits of the elephant-headed Hindu god, in a procession that began from the Sri Maha Mariamman temple in Kampung Sungai Kayu Ara, the Star Online reports.

The procession stopped briefly at various places, including the Kottu Malai Pillaiyar temple in Jalan Pudu Lama.

Among the devotees at the Kottu Malai temple was J.K. Vassanthi, a school teacher, who has been taking a fast of silence in homage to Lord Ganesha’s birthday for the past 28 years.

Another devotee who came to offer her prayers there was a Chinese woman, who embraced Hinduism three years ago.

“I feel calm and serene in this temple,” said the woman, who only wanted to be known as Adeline.

The 32-year-old fitness trainer said she often prayed at a nearby temple but decided to drop by Kottu Malai after finding out about the festival.

Clerk C. Minatchi, 31, said she had been going to the temple every week for six years since her prayers had been answered.

“My brother had gone into coma after an accident. I prayed to Lord Ganesha and 10 days later, my brother recovered,” she said.

Port company executive C. Kaleappan, 51, said he had been travelling all the way from Penang with his family to celebrate the occasion at Kottu Malai for the past 18 years.

“I feel a special bond with this temple and with the blessings of the Lord, my family is prosperous and healthy,” he said, who came with his wife and three daughters. (ANI)

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Grans may help keep kids away from developing negative age stereotypes

August 21, 2009 By admin Leave a Comment

Washington, Aug 21 (ANI): The affectionate bond between kids and their grandmothers is well known. And now, a new study has revealed that frequent visits to nana’s place could keep toddlers away from developing negative old age stereotypes.

A variety of negative stereotypes are attributed to the elderly such as they are considered forgetful, hard-of-hearing, absent-minded and confused.

Lead researcher Sheree Kwong See from University of Alberta has identified that those stereotypes exist in some children at the age two and three, which could adversely affect them when they are older.

“We’ve been able to show really early on that kids, when they’re just starting to talk, have established beliefs about older people,” said Kwong See.

“We’re seeing what we could call ageism by about age three,” she added.

Kwong See and fellow researcher Elena Nicoladis measured the reactions of young children after being quizzed on vocabulary words by either an older or younger adult.

It showed that children who had less exposure to older adults had a stronger language bias against the older person than those who had more exposure to older people.

“If you are interacting with ‘nana’ more frequently, you’ll start to see that she’s a pretty good teacher of words even though she’s old,” said Kwong See.

“When you have little contact dominant negative cultural stereotypes emerge. You think an older person isn’t as alert or in-the-know as a young person and maybe is not as good a teacher,” she added.

However, Kwong See warns that frantic trips to grandmother’s house to curb the bias, is not the sole factor.

“They’re getting negative images of aging from cartoons, from their story books, from watching how other people interact with seniors,” she said.

“But, they’re also starting to pick up some of the positive images as well if they get lots of good interactions,” she added.

The study is published in the journal Educational Gerontology. (ANI)

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Bond girl Ursula Andress named ultimate ‘Bikini Goddess’

August 20, 2009 By admin Leave a Comment

London, Aug 20 (ANI): Former Bond girl Ursula Andress has been named the ultimate ‘Bikini Goddess’ in a new poll of British women.

The poll of 1,000 women, conducted to celebrate the 60th birthday of the bikini, revealed that Andress’ figure is the one they would most like to emulate.

Andress, who played diver Honey Ryder in the first Bond film in 1962, was followed in the poll by Kelly Brook, Brigitte Bardot and Dame Helen Mirren.

According to women in the survey, Elle Macpherson has the best legs, Halle Berry has the most attractive face and Kelly Brook has the best breasts.

The poll also showed that nine out of 10 women dread wearing a bikini on the beach.

“It shows curves are not just appreciated by men but that it is women who feel this is the look they should aim for and not just try to be thin,” the Daily Express quoted Holly Chaves, of Gillette Venus Embrace, which ran the poll, as saying. (ANI)

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Laser technology creates new forms of metal and enhances aircraft performance

July 16, 2009 By admin Leave a Comment

Washington, July 16 (ANI): A team of scientists is using laser light technology to create new forms of metal and enhance aircraft performance.

The laser light technology is being used by AFOSR (Air Force Office of Scientific Research) funded researchers at the University of Rochester to help the military create new forms of metal that may guide, attract and repel liquids and cool small electronic devices.

Dr. Chunlei Guo and his team of researchers for the project discovered a way to transform a shiny piece of metal into one that is pitch black, not by paint, but by using incredibly intense bursts of laser light.

The black metal created, absorbs all radiation that shines upon it.

“With the creation of the black metal, an entirely new class of material becomes available to us, which may open up a whole new horizon for various applications,” said Guo.

“To do this, we looked at the reverse process of light absorption or light radiation and transformed the incandescent lamp into a bulb that glows twice as brightly as a regular light source, while consuming the same amount of energy,” Guo added.

The key to creating this super-filament is an ultra-brief, ultra-intense beam of light called a femtosecond laser pulse.

The laser burst lasts only a few quadrillionths of a second.

That intense blast forces the surface of the metal to form nano-structures and micro-structures that dramatically alter how efficiently light can radiate from the filament.

In addition to increasing the brightness of a bulb, Guo’s process can be used to tune the color of the light as well.

In addition to this research, Guo and his team have been working on creating technology that may enable the Air Force to create an additional kind of metal.

They are able to do this by using the femtosecond laser once again to alter the surface of metal and create unique nano- and micro-scale structures on the metal.

The unique nano-structures which are created from the laser affect the way liquid molecules interact with metal molecules.

The liquid spreads out over the metal because the nano-structures attach themselves to the liquid’s molecules more readily than the liquid’s molecules bond to each other.

The end result is the formation of a new kind of metal that can cool the plane’s electronic brain and heat pumps and allow the craft to retain dominance over any enemy that is also in flight. (ANI)

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Diaz credits parents’ 39-year marriage for Hollywood success

July 16, 2009 By admin Leave a Comment

Washington, July 16 (ANI): Hollywood actress Cameron Diaz credits her parents’ 39-year marriage for her success in Hollywood.

The 36-year-old star, who lost her father to pneumonia last year, still believes that the long-lasting love her parents shared is one of the key contributors to her sterling on-screen success today.

“It’s a bond that is so true, so pure, and so powerful, it is the most beautiful and inspiring thing that I have ever witnessed — the eternal love that my mom and dad shared,” Fox News quoted Diaz as saying.

“It was what has given me the strength and courage to live this extraordinary life and it is what powers the light that burns inside of me,” she added.

Meanwhile, Diaz is reportedly in talks to star in comic book movie Green Hornet.

According to EW.com, the Charlie’s Angels star has been offered to play the lead, opposite Canadian actor Seth Rogen.

The film to be directed by Michel Gondry is set to go before cameras later this summer. (ANI)

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Orgy takes place during masked ball at 17th century hall

July 15, 2009 By admin Leave a Comment

London, July 15 (ANI): A group of partygoers reportedly held an orgy at a masked ball inside an upmarket 17th century hall.

A company hired the picturesque Halswell House, in Goathurst, for 9,000 pounds for the swingers’ romp involving 350 well-off guests.omen wore corsets and suspenders and everyone was in masks and capes for the sexy get-together at the Somerset pile.

Owner Grahame Bond, an ex-estate agent, who has spent 2million pounds doing up the house, said that the well-heeled guests swept up the drive to the house in a succession of Porsches, BMWs and Aston Martins.

But at midnight, Bond said that one of the organisers announced: “The moment has come. The spell has begun”.

“Within minutes, the entire assembly began kissing and shortly afterwards having sex,” the Sun quoted him as saying.

“To say I was shocked was an understatement. It was as if a switch had been flicked on.

“One of my staff came up to me and said, ‘you have to see this’, and I couldn’t believe my eyes.

“I realised it was a swingers party. Everywhere there were couples having sex. Over the banisters alone I counted four couples at it.

“I was very worried for my staff and told them they could go home if they wanted, and two of them, who were only 19-years-old, did so.

“The guests were all public-school types and I jokingly said to one: ‘I suppose you are a High Court judge’. He replied: ‘You’re not far off the mark’.

“Afterwards, I called the police, but they said that as it was a private party, there was nothing illegal about it,” Bond added.

On its website, Halswell House is billed as a “glorious grade 1-listed house”, and says it hosts parties, weddings and corporate events. (ANI)

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Potter may topple Bond as top-grossing movie franchise of all time

July 15, 2009 By admin Leave a Comment

New York, July 15 (ANI): The ‘Harry Potter’ film series seems set to topple James Bond movies as top-grossing franchise in box office history.

The last five ‘Harry Potter’ films are said to have raked in a total of 4.48 dollars billion around the globe, while the James Bond movies stand at 5 billion dollars over the course of 22 films.

According to Variety.com, the ‘Harry Potter’ series is expected to overtake the British spy thrillers by the end of this month, after the latest film in the former series hits the theatres on July 15, reports the New York Daily News.

Rick Butler, the Chief Operating Officer of Fandango, said: “It’s our fastest ticket-seller since ‘The Dark Knight,’ and ‘Harry’ may eventually outpace Batman in advance ticket sales.” (ANI)

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Becks named third son Cruz after Tom Cruise

July 10, 2009 By admin Leave a Comment

Washington, July 10 (ANI): David Beckham has revealed that he and his wife Victoria have named their third son after Hollywood actor friend Tom Cruise

The soccer ace is known to share a special bond with the ‘Mission Impossible’ star.

In an interview to writer Grant Wahl for his book ‘The Beckham Experiment’, Beckham said that the actor was the inspiration behind the naming of their third son Cruz, who was born in 2005,

He was also at the time playing for Real Madrid.

“I must admit, when Victoria and I met Tom, I remember turning around to Victoria and saying, ‘Cruise is a great name, but we could spell it different.’ And also, living in Spain, Cruz is spelled the way it is in Spanish. So that’s why we got it,” Contactmusic quoted Beckham as saying.

Cruise has been influential in Beckham’s major decision in life.

It was Cruise who persuaded Beckham to play for LA Galaxy. (ANI)

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Cruise had advised Becks to join LA Galaxy

July 10, 2009 By admin Leave a Comment

New York, July 9 (ANI): It was Hollywood actor Tom Cruise who had advised ace footballer David Beckham to take up a job at LA Galaxy, according to a new book.

The soccer ace is known to share a special bond with Cruise.

In ‘The Beckham Experiment’, Sports Illustrated writer Grant Wahl has devoted nearly an entire chapter on the duo’s friendship.

Wahl says that the Mission Impossible star has influenced every major decision Becks has made since the two met in 2003.

Beckham told him that he talked to his best mate most days of the week, and took his advice on nearly everything.

It was Cruise who had advised the 33-year-old England midfielder to take a job with the L.A. Galaxy.

He also recommended Beckham’s physical therapist and introduced him to another superstar pal, Will Smith.

Cruise even influenced Beckham’s decision in naming his third son, Cruz, according to Wahl.

“I must admit, when (Victoria and I) met Tom, I remember turning around to Victoria and saying, ‘Cruise is a great name, but we could spell it different,’” Beckham told Wahl for the book. (ANI)

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New flick may make ‘Harry Potter’ one of the most successful franchises

July 8, 2009 By admin Leave a Comment

London, July 8 (ANI): The latest instalment in the Harry Potter film could help make the franchise as one of the most successful franchises of all time, owing to the huge merchandising that comes with it.

The first five Harry Potter movies have been a massive source of revenue and profit for Warner Bros.

The franchise has earned a whopping 4.5 billion dollars, an average of 897 million dollars, at the box office alone, making it the most successful film franchise of all time, behind James Bond

And it is believed that the release of the new film, ‘Harry Potter and the Half-Blood Prince’, could push the Bond franchise back into second place.

In addition, it has earned 2.7 billion dollars from DVD sales, which makes for 211 million units, reports the Telegraph.

Video games have sold 1 billion dollars, more than 40 million units, while Warner Bros also makes hundreds of millions of dollars from merchandise and other sales such as downloads on iTunes.

After the DVD released of the ‘Half-Blood Prince’ later this year, a Lego video game based on Harry, Ron and Hermione’s first four years at Hogwarts, is due in 2010.

A theme park ‘The Wizarding World of Harry Potter’ is due to open in Orlando, Florida in spring 2010.

There is also the inevitable toy and clothing ranges which produce products such as interactive wands, Harry Potter-style glasses, Gryffindor scarves and a raft of action figures.

Mattel are set to release a new version of their popular ‘Scene It?’ interactive boardgames.

Harry Potter lovers can also expect top trumps, sticker albums and costumes. (ANI)

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Narayana Murthy praises General Budget

July 8, 2009 By admin Leave a Comment

Bangalore, July 7 (ANI): Chairman and chief mentor of the Infosys Technologies Ltd NR Narayana Murthy has said the General Budget will bring the economy back on rails.

Addressing reporters here on Monday, Murthy expressed confidence that the budget was pro-growth.

“Given the fact that they have increased allocation to the National Rural Employment Guarantee Act scheme, to national food security scheme, to highways, to education, they have something for everybody, something in every area. So, I do think this has pretty good chance of bringing economy back on rails,” Murthy said.

The government ramped up spending for this fiscal year to support a fragile economic recovery, spooking stock and bond markets with plans for record borrowing and the biggest budget deficit in 16 years.

Investors had hoped the new government would use a strong re-election mandate to push through pro-market reforms, but the budget it unveiled lacked major policy changes and focused on increased borrowing and spending to aid farmers and the poor.

Stocks tumbled nearly six per cent, bond yields spiked and the rupee fell 1.4 per cent after Finance Minister Pranab Mukherjee, sticking to the Congress Party’s theme of “inclusive growth”, said the fiscal deficit for the year ending March 2010 would increase to 6.8 percent of gross domestic product (GDP). (ANI)

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India Inc. disappointed with Mukherjee’s budget for 2009-10

July 6, 2009 By admin Leave a Comment

New Delhi/Mumbai, July 6 (ANI): India Incorporated on Monday reacted with disappointment to the proposals for Budget 2009-10 introduced by Union Finance Minister Pranab Mukherjee.

It said that Mukherjee had remained silent on key points like the revamp of fuel policy, corporate tax, and the disinvestment roadmap.

The Bombay Stock Exchange (BSE) benchmark Sensex suffered the biggest fall on any Budget day and in the year too by plunging over 869 points on the BSE on concerns at the high fiscal deficit (6.8 percent) set by the Union Budget.

The Sensex, which started coming down soon after the announcement of budgetary proposals, dipped below the 14,000-point level before closing 869.65 points down at 14,043.40, surpassing the hefty fall of 749 points on January 7.

The key index had touched the day’s low of 13,959.44 as all the heavyweight stocks led by Reliance Industries suffered a heavy loss 6.53 per cent. Besides the fiscal deficit, trading sentiment also affected as European stocks dipped to a seven-week low on worries that economic recovery might still be far way off. The 50-share National Stock Exchange index Nifty also tumbled by 258.55 points to 4,135.70, after hitting the day’s low of 4,133.70.

Banking sector stocks suffered the most, losing 8.17 per cent to 7,768.63, as ICICI Bank tumbled by 10 per cent and HDFC Bank by 5.88 per cent among lenders as the Budget did not have measures to open up the industry and on concerns that the borrowing plan will reduce the value of bond holdings, brokers said.

Apart from the fiscal deficit, the other worry for captains of industry was the hike in Minimum Alternate Tax from ten to fifteen percent.

The Nifty also gave a thumbs down to the budget announcements.

Mukherjee left the corporate tax, customs and excise duty structure unchanged. He abolished the Fringe Benefit Tax which was the bugbear of the industry. Also, the deadline for Corporate India’s demand for a rollout of Goods and Services Tax has been set as April 2010.

He left the Securities Tax unchanged but scrapped the Commodities Transaction Tax. (ANI)

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Minogue presents robot vacuum cleaner to Cole as peace offering

July 6, 2009 By admin Leave a Comment

London, Jul 6 (ANI): Aussie singer Dannii Minogue is said to have made a peace offering to ‘The X Factor’ co-judge Cheryl Cole by presenting her with a state-of-the-art robot vacuum cleaner.

Minogue, 37, gave Cole the 300 pounds Roomba Vacuum Robot at her 26th birthday bash in London’s Vanilla private club.

And the effort to end the rivalry between them seems to have worked, with sources saying that the ‘Girls Aloud’ member was “delighted” with her unusual present.

“Dannii’s gift was Cheryl’s favourite,” the Daily Star quoted a pal of the star as saying.

“She thought it was hilarious and really thoughtful.

“She hates housework and can’t get her husband Ashley to lift a finger in the house – so it showed Dannii had given a lot of thought to her gift.

“Cheryl gave Dannii a huge hug when she saw it,” the pal added.

The cleaner’s manufacturers claim that sensors guide the disk-shaped droid around any room, and that it can even adjust its own height to suck up dirt from different surfaces like rugs or tiles.

Other sources have revealed that the gift has proved that the girls have been getting along much better since their earlier stages of filming.

“Things may have been a bit frosty early on last year but they’ve got on so much better during this year’s auditions,” an X Factor insider said.

“Dannii has made a real effort to bond with Cheryl this year and it looks like it has paid off,” the insider added. (ANI)

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