Telefonica Chooses Verizon Global Wholesale for Domestic U.S. Wireless Service Delivery

July 7, 2010 By Leave a Comment

NEW YORK, July 6 /PRNewswire-FirstCall/ — Telefonica, one of the world’s largest telecommunications companies in terms of market capitalization, will support its multinational customer requirements for wireless services in the U.S. with a “white label” service provided under contract with Verizon Global Wholesale.

“It’s very gratifying to be selected by Telefonica for such an important element of its U.S. service offering,” said Quintin Lew, senior vice president of marketing for Verizon Global Wholesale. “Our Mobility Solutions offering will provide strong support to Telefonica’s strategy of fully supporting its domestic U.S. customers.”

Telefonica serves more than 800 multinational corporation customers – many of which require services in the U.S. – through Telefonica Multinational Solutions. Under the terms of the mobility contract signed this week, Telefonica will manage and brand the wireless services it provides to its MNC customers in the U.S., as well as bundle the services with others it offers.

Fernando Astiaso, Telefonica Multinational Solutions director, said, “The agreement with Verizon enables us to offer to our MNC customers a high-quality wireless service in the USA, enhancing our managed mobility value proposition to our multinational customers in this important market.”

The agreement was signed by Telefonica International Wholesale Services (TIWS) on behalf of the Telefonica Group. Jose Ramon Vela, CEO of TIWS, said, “This partnership reinforces our current relationship and is key for us to support our customers in the USA.” Telefonica has a number of enterprise-sized customers in the U.S., including major European banking institutions.

Verizon Global Wholesale meets the needs of wholesale customers around the globe by providing offerings ranging from complex data technologies such as Ethernet, SONET and IP services to value-added services like data security, cloud computing and professional services as well as traditional voice services.

Verizon Global Wholesale’s Mobility Service includes wireless voice, text messaging and broadband packages. It provides a choice between per minute and per megabyte bulk pricing, as well as bundled voice and data plan pricing options. Through these options, as well as the availability of a suite of BlackBerry solutions, wholesale clients can customize their offerings to address the specific needs of their customers. Verizon Global Wholesale also provides technical expertise in sales and support and carries an inventory of white-labeled handsets and aircards available for purchase and customization.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving nearly 93 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

About Telefonica

Telefonica is one of the largest telecommunications companies in the world in terms of market capitalization. Its activities are centered mainly on the fixed and mobile telephony businesses with broadband as the key tool for the development of both. The company has a significant presence in 25 countries and a customer base that amounts close to 274 million accesses around the world. Telefonica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy. Telefonica is a 100% listed company and its shares are traded on the main international stock markets. www.telefonica.com.

Telefonica International Wholesale Services is the organization within the Telefonica Group that provides global telecommunication services for fixed and mobile carriers, ISPs and content providers. Its integrated and competitive portfolio includes international voice, IP, capacity, satellite services, international services for corporations, mobility services and platform services. More information is available on: www.telefonica-wholesale.com. Telefonica Multinational Solutions is a central organization that is aligned and works in conjunction with the Telefonica operating companies to deliver services to MNC customers. More information about Telefonica Multinational Solutions is available on: www.multinationalsolutions.telefonica.com.

VERIZON’S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon’s News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

Media contacts:

Jim Smith, Verizon

908-559-3477

james.albert.smith@verizon.com

Telefonica

00 34 91 482 38 00

prensa@telefonica.es

www.telefonica.es/saladeprensa

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Five world markets themes next week

June 21, 2010 By Leave a Comment

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/ FRAGILE OPTIMISM

With potentially problematic euro zone debt auctions out of the way without mishap, albeit at a price, and little euro zone sovereign issuance due in the coming week, the ability of world stocks and higher-yielding currencies to extend gains will depend more on economic data than has been the case recently. As long as pre-G20 comments don’t rattle markets, flash PMIs, Germany’s IFO, a Fed policy meeting decision and the language the U.S. central bank uses to explain its decision will show whether it is the sharp fall in Germany’s ZEW index or the more upbeat U.S. industrial output data which better reflects the economic outlook. Such signals will be crucial given fiscal austerity measures across a growing number of developed countries pose risks to economic recovery that will affect all asset classes.

2/ TESTING STRESS

The correlation between European peripheral sovereign bond spreads and the European banking index has broken down in the past week and a half with the latter rebounding as much as 14.3 percent from June 8 lows even as some euro zone spreads have kept widening (notably the Spanish/German one). Problems facing some banks in accessing funds have not gone away. However, EU countries’ greater inclination to publish more detailed bank stress testing results will encourage investors to show ever greater discrimination between banking stocks rather than tarring the whole sector with the same brush – as long as the test assumptions stand up to close scrutiny.

3/ FINDING MOMENTUM IN UNCERTAIN TIMES

Stocks are clawing their way up from a six-week fall but the drop in trading volumes and the dearth of major U.S. or European corporate results have got some wondering how long the positive momentum can continue without more concrete signs of improving economic health and corporate profitability. This is the sort of evidence it will take to offset the market volatility and uncertainty which prompted investors to pull $7.3 billion out of U.S. equity mutual funds in May, according to Lipper analysis. All the more so given volatility in key market influences such as credit ratings: Evolution Securities cites research showing that on average it takes 6,693 days for a rated entity to fall from A2 to Ba1 – a ratings shift that took Greece just 55 days.

4/ CAUTION STILL THE WORD

With the European debt crisis being cited as far afield as Asia as a risk to the global economy, the post-FOMC statement next week will be perhaps most interesting for whether it will warrant a mention there. Whatever the U.S. central bank says, it is unlikely to change financial market expectations that it will be the first of the three major Western central banks to tighten monetary policy, not least as the European Central Bank has committed itself to offering unlimited funds at three-month lending operations until the end of the year. That might tilt the balance in favor of German notes and bonds outperforming U.S. paper, but it won’t guarantee it, especially if investors’ bigger focus is on holding liquid non-euro zone sovereign debt.

5/ SOVEREIGN FOCUS CROSSES THE CHANNEL

The emergency UK budget which will be unveiled next week, and its importance for credit rating firms, has the potential to distract investors’ attention from the concerns about euro zone sovereign credit problems and will determine whether euro/sterling extends its retreat. Further deep spending cuts might raise worries about a double-dip recession and pose a risk to the pound in the short term. However, a longer view might deem austerity measures less damaging to the currency and beneficial for gilts if they attack the structural deficit and reassure ratings firms.

(Compiled by Swaha Pattanaik; editing by John Stonestreet)

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Asian stocks weak, euro gives ground

May 24, 2010 By Leave a Comment

The euro struggled to hold on to gains on Monday as investors sold into its latest bounce, while Asia stocks fell to hover just above eight-month lows hit on Friday on fears the euro-area debt crisis will hit world growth.

Although Wall Street was firm on Friday, investors in Asia weren’t so bullish.

They sold exporters in Japan to pull the benchmark Nikkei average down to its lowest level in more than five months, taking the view that a strong yen was undermining their earnings prospects. That added to the average’s 6.5 percent fall last week, its worst weekly drop in over a year.

The euro fell to $1.2490 in Asian trade from around $1.2570 in late New York dealings on Friday.

The currency had posted its first weekly gain against the dollar in six weeks last week as investors bought back the currency following its long slide.

Dealers said the health of the European banking sector weighed on the euro, already hurt by worries about the impact of deep public spending cuts in Greece, Spain and Portugal.

At the weekend, the Bank of Spain said it was taking over the running of Spanish savings bank CajaSur after its planned merger with another of the country’s small lenders failed.

The Australian dollar eased as carry trades funded in the single currency continued to be unwound on fears of a global slowdown.

“The euro is still vulnerable structurally as the short covering that we saw last week seems to have run its course,” said Tony Morriss, senior currency strategist at ANZ Bank.

“Also, the unwinding of carry trades that lifted the euro against the Aussie last week could run into some resistance.”

* The MSCI index of Asia-Pacific shares outside of Japan inched down 0.2 percent, hovering just above an eight-month low hit on Friday.

* Japan’s Nikkei average fell 0.5 percent, after earlier falling as much as 0.93 percent to 9,693.07, its lowest since early December.

* The euro rebounded sharply against the high-yielding Aussie last week, hitting three-month highs of A$1.5456, on the back of a huge sell-off by hedge funds. On Monday, the pair was trading at A$1.5188, just above late levels in New York on Friday.

* The Australian dollar fell 1.2 percent against the yen to 74.08 yen .

* The Aussie dollar extended its broad slide after global miner Rio Tinto said it is reviewing all capital spending plans in light of the Australian government’s proposed resource super profits tax.

* Australian stocks rose, buoyed by bargain hunters picking up banks and miners, following a slight recovery on Wall Street. The benchmark S&P/ASX 200 index gained 0.5 percent to 4,328.3, moving away from 10-month lows on Friday.

* Three-month copper on the London Metal Exchange inched up $5 to $6,850, extending gains of more than 3.5 percent from the previous session.

* U.S. crude futures was steady to trade around $70.00 a barrel. An oil price of $65 per barrel is still reasonable for all producers, but a price below that will be a “disadvantage,” the chief executive of Saudi Basic Industries Corporation (SABIC) said on Sunday.

* U.S. benchmark 10-year Treasury notes edged up about 5/32 in price to yield 3.218 percent , down about 3 basis points from late U.S. trading on Friday.

(Additional reporting by Anirban Nag in Sydney; Editing by Neil Fullick)

(For more business news on Reuters Money visit http://www.reutersmoney.in)

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Slowdown will lead to kids’ death: UNESCO

March 6, 2009 By Leave a Comment

Press Trust of India
Thursday, March 05, 2009, (Paris)
A new report released by UNESCO has said that the global financial crisis, which is sweeping through Wall Street and European banking sector, will touch the lives of the world’s most vulnerable, push millions into deeper poverty and lead to the deaths of thousands of children.

The study, prepared by the Education for All Global Monitoring Report (GMR) team, has documented the potential impact of the current worldwide economic meltdown on the Millennium Development Goals (MDGs).

According to the report, increased international aid could help reduce fiscal pressure, but development assistance budgets are coming under increased pressure and countries are using these crisis as an excuse to turn their back on the world’s poor.

The European Union’s aid commitment to provide 0.5 per cent of GDP in aid by 2010 will be $4.6 billion less than committed, the report said.

It also called for a concerted international effort to limit the impact of the financial crisis on the poor.

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