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July 30, 2010 By Leave a Comment

PARIS, Jul 29 (MARKET WIRE) —
Press Release

29 July 2010

For further information, please contact:

Jean-Charles Simon / Geraldine Fontaine +33 (0)1 46 98 73 17

Communications and Public Affairs

Antonio Moretti +44 (0) 203 207 8562

Investor Relations Director

Very strong second quarter performance drives first half 2010 net income
to EUR 156 million

Thanks to a second quarter which illustrated the Group’s capacity to
deliver a high level of recurring profitability with a net income of EUR
120 million compared to EUR 91 million in the second quarter 2009 (i.e.
+32%), SCOR records a net half-year income of EUR 156 million, compared to
EUR 184 million in 2009.

In the first half 2010, SCOR combined growth, profitability and solvency:

– premium income of EUR 3,258 million. This corresponds to a rise of 8%
compared to the first half 2009 (+5% at constant exchange rates) excluding
equity-indexed annuity business in the USA and after normalising the level
of Non-Life business in the first half of 2009 to the annual growth rate
of 2009;

– net income of EUR 156 million;

– half-year net combined ratio of 102.8% for SCOR Global P&C thanks to a
combined ratio of 97.0% in the second quarter of 2010;

– operating margin of 6.0% for SCOR Global Life;

– return on invested assets (excluding funds withheld by cedants) of 4.0%;

– annualised ROE of 7.7%;

– shareholders’ equity of EUR 4.2 billion, up 8.1% compared to 31 December
2009, i.e. EUR 23.2 book value per share;

– operating cash flow of EUR 208 million.

In addition, the first quarter demonstrated the Group’s ability to absorb
an abnormally high concentration of natural catastrophes (Chile, Haiti,
Xynthia, etc.).

Denis Kessler, Chairman and Chief Executive Officer of SCOR, comments:
“The first half 2010 results once again illustrate the Group’s capacity to
combine growth, profitability and solvency, whilst maintaining a medium
risk appetite. SGPC’s renewals reflect the Group’s favourable positioning,
the first half results confirm our continued profitability and the
increase in our shareholders’ equity further strengthens the Group’s
financial situation and solvency.”

Key figures of the first half of 2010

Gross written premiums for Life and Non-Life reach EUR 3,258 million,
remaining stable compared to the first half of 2009 when they reached EUR
3,254 million (+0.1% but -2.7% at constant exchange rates). This stability
is principally due to the unfavourable impact of the planned and
deliberate reduction in equity-indexed annuity business and the
development of Non- Life reinsurance. Excluding equity-indexed annuities
business in the USA and by normalising the level of Non-Life business in
the first half of 2009 to the annual growth rate of 2009, premium income
grew by 8% compared to the first half of 2009 (+5% at constant exchange
rates). Bolstered by positive renewals, SCOR Global P&C’s (SGPC) premium
income records growth of +3.8% at EUR 1,764 million over the first 6
months of the year (+0.5% at constant exchange rates).

SCOR records a net income of EUR 156 million in the first half of 2010,
compared to EUR 184 million in the first half of 2009. In the second
quarter alone net income amounted to EUR 120 million compared to EUR 91
million in the second quarter of 2009. The first half result is impacted
by the high level of losses following a series of natural catastrophes,
predominantly in the first quarter. However, it has benefited from the
improved operating performance of SCOR Global Life (SGL), and greater
returns on the investment portfolio under the combined effects of an
active asset management policy and lower impairments.

The continued recovery of SGPC’s US business, which has now demonstrated
its capacity to generate recurring profits, allowed the reactivation of
the last set of deferred tax assets of the Non-Life entities in the USA
for an amount of EUR 29 million at the end of June 2010. In comparison,
net income registered at 30 June 2009 benefited from the reactivation of
EUR 100 million in deferred tax assets relating to the same entities
during the first quarter 2009.

Earnings per share (EPS) stands at EUR 0.87 compared to EUR 1.03 at the
end of June 2009. Annualised return on equity (ROE) amounts to 7.7% in the
first half of 2010, against 10.6% recorded for the same period in 2009.
For the first half standalone, annualised ROE totals 11.9%, compared to
10.5% in the second quarter 2009.

SCOR shareholders’ equity increases by 8.1% during the first half of 2010
to EUR 4.2 billion at 30 June 2010, compared to EUR 3.9 billion at 31
December 2009. Book value per share stands at EUR 23.2 at 30 June 2010.

SCOR recorded variations in the exchange rate on consolidated net assets
of EUR 272 million, compared to EUR 85 million for the first half of 2009.
During the first half, the Group continued to reduce its debt ratio and
currently has a leverage position of 10.6% compared to 14.6% at the end of
2009.

The Annual General Meeting of 28 April 2010 decided on a dividend payment
of EUR 1 per share, that is a payout ratio of 48%. It also determined that
the 2009 dividend payment could be made either in cash or in new shares
issued at EUR 15.96. This option was exercised in the amount of 2,647,517
new shares for a total value of EUR 42 million, split between EUR 21
million of share capital and EUR 21 million of additional paid-in capital.
The total sum of dividends distributed for 2009 reached EUR 179 million,
EUR 42 million being paid in shares and EUR 137 million in cash.

The positive operating cash flow linked to operational business stands at
EUR 208 million at 30 June 2010, compared to EUR 308 million for the same
period in 2009. This decrease stems mainly from SGL due to the planned and
deliberate reduction in the portfolio of equity-indexed annuity business
in the United States.

SGPC confirms its projected net combined ratio of less than 100% for the
year 2010 excluding exceptional events

SGPC reports gross written premiums of EUR 1,764 million for the first
half of 2010, compared to EUR 1,699 million in 2009, representing an
increase of 3.8%. This increase represents 0.5% at constant exchange
rates compared to 2009, a year marked by a sharp rise in gross written
premiums in the first half. Relative to normalised growth in the first
half of 2009 on the basis of the increase registered over the full year
2009, the first half of 2010 marks an increase of 8% in gross written
premiums compared to the first half of 2009.

The net combined ratio stands at 102.8% in the first half of 2010,
compared to 108.6% in the first quarter of 2010 and 97.5% in the first
half of 2009. Natural catastrophes contributed 13.1 points of net
combined ratio over the half year (compared to 20.2 points in the first
quarter 2010), whilst the second quarter saw natural catastrophe losses
in line with budget (6 points). The estimated total net cost for the
earthquakes in Chile and Haiti and hurricane Xynthia remains unchanged
relative to the figures communicated with the first quarter results.
Attritioned losses are down 1.5 points; this decrease illustrates the
dynamic management of the portfolio and the expected improvement in
technical results following the renewals of the last two years. Excluding
exceptional events and subject to natural catastrophe losses not
exceeding budget for the third and fourth quarters of the year, the net
combined ratio for 2010 should be below 100%.

The excellent P&C and Specialty treaty renewals at the end of June and in
July 2010 are characterised by premium volume growth of 19% at constant
exchange rates, totalling EUR 245 million, in line with the expected
underwriting profitability objective in 2010. These renewals concern
around 10% of the total annual volume of treaty premiums.

Following these renewals, SGPC maintains its estimation of the amount of
gross premiums in a range between EUR 3.45 and EUR 3.5 billion for 2010.

SCOR Global Life (SGL) records an operating margin of 6.0% in the first
half of 2010 compared to 5.1% in the first half of 2009

In the first half of 2010, SGL’s gross written premiums totalled EUR 1,494
million compared to EUR 1,555 million for the same period 2009 (a decrease
of 3.9%). Gross written premiums excluding equity-indexed annuity business
in the US amount to EUR 1,457 million compared to EUR 1,356 million in the
first six months of 2009, representing an increase of 7.6%. This growth
stems mainly from Critical Illness and Long-Term lines and from new
business in North America, the UK & Ireland.

The Life operating margin for the first six months ended 30 June 2010
amounted to 6.0% (compared to 5.1% for the same period 2009). This
increase of 0.9 percentage points stems mainly from improvements in the
profitability in different business segments and due to a positive
development of the investment income.

SCOR Global Investments (SGI) maintains its “rollover” investment strategy
and posts a sharp increase in net return on invested assets

In a context of low interest rates and greater volatility in the financial
markets, the Group is maintaining a “rollover strategy” for its fixed
income portfolio in order to have significant financial cash flows to
reinvest in the event of a sudden change in the economic and financial
environment, whilst seizing market opportunities in the short term.

This investment policy led to net realised gains of EUR 108 million during
the first two quarters of 2010. SCOR posts a net return on investments
(excluding funds held by cedants) of 4.1% in the second quarter 2010,
compared to 3.9% in the first quarter 2010. Consequently, SCOR has
recorded a net return on invested assets over the first 6 months of the
year (excluding funds withheld by cedants) of 4.0%, a significant rise
compared to the first half of 2009 (1.0%). The impact of impairments is
limited to EUR 52 million in the first half of 2010 compared to EUR 184
million in the first half of 2009. Taking into account the funds withheld
by cedants, net return on invested assets amounts to 3.4% over the first
half of 2010, compared to 1.4% in the same period of 2009.

Net investments, including cash, stand at EUR 21,663 million at 30 June
2010, compared to EUR 19,969 million at 31 December 2009. At 30 June 2010,
the Group’s investments consist of bonds (48.1%), funds withheld by
cedants (37.4%), cash and short-term investments (6.3%), equities (4.4%),
real estate (2.1%) and other alternative investments (1.7%). Liquidity
reaches EUR 1.4 billion at 30 June 2010, compared to EUR 1.7 billion at
31 December 2009.

SCOR’s high-quality fixed income portfolio (average rating AA) maintains a
relatively short duration of 3.4 years (excluding cash and short-term
investments), down slightly compared to 31 December 2009 (3.7 years).
Investments in inflation-linked bonds amount to EUR 1,022 million at 30
June 2010.

*

* *

Key figures (in EUR
millions)

+————————-+——-+————+————+————+
| | | H1 2010 | H1 2010 | H1 2009 |
+————————-+——-+————+————+————+
| | |(unaudited) |(unaudited) |(unaudited) |
+————————-+——-+————+————+————+
|Gross written premiums | 3 258 | 3 254 | 1 645 | 1 693 |
+————————-+——-+————+————+————+
|Non-Life gross written | 1 764 | 1 699 | 855 | 831 |
|premiums | | | | |
+————————-+——-+————+————+————+
|Life gross written | 1 494 | 1 555 | 790 | 862 |
|premiums | | | | |
+————————-+——-+————+————+————+
|Operating income excl. | 234 | 312 | 178 | 159 |
|impairments | | | | |
+————————-+——-+————+————+————+
|Net income | 156 | 184 | 120 | 91 |
+————————-+——-+————+————+————+
|Investment income | 356 | 149 | 184 | 153 |
+————————-+——-+————+————+————+
|Net Return on Investments| 4.0% | 1.0% | 4.1% | 3.6% |
+————————-+——-+————+————+————+
|Net Return on Assets | 3.4% | 1.4% | 3.4% | 3.1% |
+————————-+——-+————+————+————+
|Non-Life combined ratio |102.8% | 97.5% | 97.0% | 95.8% |
+————————-+——-+————+————+————+
|Non-Life technical ratio | 96.0% | 91.0% | 89.8% | 89.3% |
+————————-+——-+————+————+————+
|Non-Life cost ratio | 6.8% | 6.5% | 7.2% | 6.5% |
+————————-+——-+————+————+————+
|Life operating margin | 6.0% | 5.1% | 6.0% | 5.5% |
+————————-+——-+————+————+————+
|Return on Equity (ROE) | 7.7% | 10.6% | 11.9% | 10.5% |
+————————-+——-+————+————+————+
|Basic EPS (EUR) | 0.87 | 1.03 | 0.67 | 0.51 |
+————————-+——-+————+————+————+
| | | H1 2010 | H1 2010 | H1 2009 |
+————————-+——-+————+————+————+
| | |(unaudited) |(unaudited) |(unaudited) |
+————————-+——-+————+————+————+
|Investments (excl. |21 663 | 19 542 | | |
|participations) | | | | |
+————————-+——-+————+————+————+
|Reserves (gross) |23 194 | 20 848 | | |
+————————-+——-+————+————+————+
|Shareholders’ equity | 4 216 | 3 635 | | |
+————————-+——-+————+————+————+
|Book value per share | 23.2 | 20.2 | | |
|(EUR) | | | | |
+————————-+——-+————+————+————+

+————————-+————+————+-+————+
| | H1 2009 | Q2 2010 | | Q2 2009 |
+————————-+————+————+-+————+
| |(unaudited) |(unaudited) | |(unaudited) |
+————————-+————+————+-+————+
|Gross written premiums | | | | |
+————————-+————+————+-+————+
|Non-Life gross written | | | | |
|premiums | | | | |
+————————-+————+————+-+————+
|Life gross written | | | | |
|premiums | | | | |
+————————-+————+————+-+————+
|Operating income excl. | | | | |
|impairments | | | | |
+————————-+————+————+-+————+
|Net income | | | | |
+————————-+————+————+-+————+
|Investment income | | | | |
+————————-+————+————+-+————+
|Net Return on Investments| | | | |
+————————-+————+————+-+————+
|Net Return on Assets | | | | |
+————————-+————+————+-+————+
|Non-Life combined ratio | | | | |
+————————-+————+————+-+————+
|Non-Life technical ratio | | | | |
+————————-+————+————+-+————+
|Non-Life cost ratio | | | | |
+————————-+————+————+-+————+
|Life operating margin | | | | |
+————————-+————+————+-+————+
|Return on Equity (ROE) | | | | |
+————————-+————+————+-+————+
|Basic EPS (EUR) | | | | |
+————————-+————+————+-+————+
| | H1 2009 | Q2 2010 | | Q2 2009 |
+————————-+————+————+-+————+
| |(unaudited) |(unaudited) | |(unaudited) |
+————————-+————+————+-+————+
|Investments (excl. | | | | |
|participations) | | | | |
+————————-+————+————+-+————+
|Reserves (gross) | | | | |
+————————-+————+————+-+————+
|Shareholders’ equity | | | | |
+————————-+————+————+-+————+
|Book value per share | | | | |
|(EUR) | | | | |
+————————-+————+————+-+————+

Forward-looking statements

SCOR does not communicate “profit forecasts” in the sense of Article 2 of
(EC) Regulation n degrees809/2004 of the European Commission. Thus, any
forward-.looking statements contained in this communication should not be
held as corresponding to such profit forecasts. Information in this
communication may include “forward-looking statements”, including but not
limited to statements that are predictions of or indicate future events,
trends, plans or objectives, based on certain assumptions and include any
statement which does not directly relate to a historical fact or current
fact. Forward-looking statements are typically identified by words or
phrases such as, without limitation, “anticipate”, “assume”, “believe”,
“continue”, “estimate”, “expect”, “foresee”, “intend”, “may increase” and
“may fluctuate” and similar expressions or by future or conditional verbs
such as, without limitations, “will”, “should”, “would” and “could.” Undue
reliance should not be placed on such statements, because, by their
nature, they are subject to known and unknown risks, uncertainties and
other factors, which may cause actual results, on the one hand, to differ
from any results expressed or implied by the present communication, on
the other hand.

Please refer to SCOR’s document de reference filed with the AMF on 3
March 2010 under number D.10-00085 (the “Document de Reference”), for a
description of certain important factors, risks and uncertainties that
may affect the business of the SCOR Group. As a result of the extreme and
unprecedented volatility and disruption of the current global financial
crisis, SCOR is exposed to significant financial, capital market and
other risks, including movements in interest rates, credit spreads,
equity prices, and currency movements, changes in rating agency policies
or practices, and the lowering or loss of financial strength or other
ratings.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Factbox: States wrestle with immigration policy

July 30, 2010 By Leave a Comment

(Reuters) – A judge on Wednesday blocked the most controversial parts of a new Arizona immigration law coming into effect on Thursday.

Parts of the law put on hold would require police to determine the immigration status of a person they have stopped or detained — for example for a traffic offense — and make it mandatory to always carry immigration registration papers.

Arizona, which has a border with Mexico, is not the only state to address the issue of undocumented workers through its legislature. “State lawmakers are forced to have to pick up the pieces of a broken federal immigration policy,” said Virginia State Senator John Watkins in a statement.

Below are some key facts about immigration and the states.

* As of June 30, bills similar to Arizona’s law had been introduced in South Carolina, Pennsylvania, Minnesota, Rhode Island and Michigan.

* In the first half of the year, 44 state legislatures passed 191 laws and adopted 128 resolutions relating to immigrants and refugees, with governors vetoing five of the bills. This was a 21 percent increase in enacted laws and resolutions from the same time period in 2009.

* Most of the state legislation addresses employment, law enforcement and identification.

* In all of 2009 more than 1,500 bills were introduced in state legislatures related to immigration, compared to 300 in 2005.

* Immigrants made up more than 12 percent of the U.S. population in 2008 and the foreign-born share of Arizona’s population was 14.3 percent that year. In California, which is also on the border, foreign-born residents make up more than a quarter of the population. Latinos make up the biggest group.

* The Latino share of Arizona’s population was 30.1 percent in 2008. In neighboring Texas, Latinos made up 36.5 percent of the population and in California they made up 32.4 percent. In New Mexico, they represented nearly 45 percent of the population.

SOURCES: National Conference of State Legislatures, The Immigration Policy Center

(Compiled by Lisa Lambert in Washington, Editing by David Storey)

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Analysis: Immigration ruling carries double-edged sword

July 30, 2010 By Leave a Comment

(Reuters) – A U.S. judge’s ruling blocking key parts of Arizona’s immigration law could bolster President Barack Obama’s standing among Hispanics and energize Republican foes who back the tough law.

U.S. District Judge Susan Bolton weighed in on the festering American debate over illegal immigration that has implications for November 2 congressional elections.

* Obama’s Democrats could get a boost from Hispanics who have been disenchanted with his inability to advance an overhaul of the U.S. immigration system. The Hispanic vote is expected to be increasingly important in the years ahead.

Negotiations between the White House and the congressional leadership have gone nowhere on the potent political issue of immigration and the issue is considered dead for the year.

Both Democrats and Republicans have tried to attract Hispanics to their parties and thus far Democrats have largely won the battle.

But Obama’s approval rating among Hispanics in a recent Gallup poll was at 52 percent, his lowest rating with them after reaching the 60s earlier this year.

* On the flip side, the ruling may well generate further enthusiasm among Republican voters who are already energized ahead of November 2 elections in which Democratic control of the U.S. Congress is at stake.

Republicans have used the Obama administration’s effort to strike the Arizona law as a rallying point. The Republicans’ conservative base is leery of any immigration legislation that could be perceived as granting amnesty to the estimated 10.8 million immigrants living illegally in the United States.

Many Americans who are weary of a 9.5 percent jobless rate back the Arizona law and could be disappointed by the judge’s ruling, which was prompted by a lawsuit filed against Arizona by Obama’s Justice Department.

A CNN/Opinion Research poll this week showed that a majority of the country back the Arizona immigration law — 55 percent of those questioned favored it compared to 40 percent against it.

* Immigration is a volatile issue in Washington. Battle lines are drawn between Democrats, who want a system of documenting illegals to allow them to work in addition to improved border security, and Republicans, who mainly want tougher border enforcement.

Obama has been challenging both Democrats and Republicans on Capitol Hill to offer him bipartisan proposal on immigration in recognition that any overhaul would not pass without Republican votes.

Senator John McCain of Arizona is well aware of the potency of the issue. He led efforts to overhaul immigration three years ago and the issue nearly unraveled his campaign for the Republican presidential nomination.

Defeated by Obama in 2008, McCain has been a strong backer of the Arizona law in trying to face down a primary challenge to his re-election from conservative former congressman J.D. Hayworth.

(Editing by Howard Goller)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Mexican migrants still wary after Arizona law ruling

July 30, 2010 By Leave a Comment

(Reuters) – A judge’s decision to block key parts of a tough immigration law in Arizona on Wednesday did little to encourage Mexicans who say rising xenophobia in the United States is their worst enemy.

Even as the Mexican government praised U.S. District Judge Susan Bolton’s ruling as a step in the right direction, people in the city of Nogales, across the border from Arizona, accused U.S. authorities of deporting them for doing jobs shunned by Americans.

“You can feel the repression, the hatred against us on U.S. streets,” said Javier Mendez, a Mexican who had a job washing dishes in Oregon until he was deported this week. “I went to visit my mother in Tucson and they threw me in prison and took me away from my family.”

In recent years, the U.S. Border Patrol has heightened surveillance as it seeks to stem the flow of drugs, weapons and illegal immigrants across the porous Mexican-U.S. border.

Federal, state and local authorities are using legislation and beefed-up enforcement to target many of the nearly 11 million illegal immigrants believed to be living across the United States.

Bolton’s ruling freezes sections of the law, passed by Arizona’s Republican-controlled legislature three months ago, that would have given police the power to investigate anyone reasonably suspected of being an illegal immigrant and made it a crime not to carry identification papers.

As Arizona Governor Jan Brewer vows an appeal, the fate of the controversial law is uncertain as it was due to take effect on Thursday.

“We know that even with the ‘no’ to the law the feeling of xenophobia has grown and that won’t go away with one judge’s ruling,” said Rafael Hernandez, director of a migrant rights group in Tijuana, across from San Diego, California.

Polls show the law is backed by a solid majority of Americans and by 65 percent of Arizona voters. Opposition by many Americans to illegal immigration has built support for copycat efforts in at least 20 other states.

“It is not just the law we are protesting, it is the hate that goes with it,” said Sergio de Alba, a Mexican farm leader who spoke at a protest on Wednesday in Mexico City.

Illegal immigrants complain they are summarily rounded up in raids by U.S. law enforcement, forced to abandon their families and deported to dangerous Mexican border cities with no money. Some of them have spent most of their lives in the United States and barely speak Spanish.

BETTER PAY

Many Hispanics in the United States voted for President Barack Obama in hopes he could usher in reforms and provide a path to legal residency for illegal immigrants.

While the Obama administration opposed Arizona’s new law, the president has been unable to win support from Republicans for immigration reform, battling against the perception that foreigners are swarming the border and taking American jobs.

Spiraling violence in Mexico, where President Felipe Calderon is battling increasingly bold drug cartels, has increased calls for tighter controls on the border.

Despite a weak U.S. economy, many Mexicans dream of working in the United States, where they can often earn more in a single hour than they can in a whole day’s work at home.

Arizona is the principal corridor for smugglers moving illegal immigrants into the United States.

But undocumented immigrants face more controls than they did before the September 11 attacks on the United States by al Qaeda militants in 2001. Workplace raids have become more common in central and northern U.S. states.

“I was put in a U.S. prison along with murderers and criminals with 25-year sentences,” said Jose Antonio Lopez, who was deported to Nogales last week after being arrested in Las Vegas. “All I did wrong was cutting someone’s lawn.”

(Additional reporting by Lizbeth Diaz in Tijuana and Caroline Stauffer in Mexico City; Writing by Robin Emmott; Editing by Missy Ryan and John O’Callaghan)

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Level 3 investe nella resilienza a Manchester, radicando la presenza in Europa

June 23, 2010 By Leave a Comment

Instradamento diverso supporta gli obiettivi di sviluppo economico della città
LONDRA–(Business Wire)–
Level 3 Communications, Inc. (NASDAQ : LVLT) ha annunciato oggi di avere
investito per rendere resiliente la connessione di Level 3 alla città di
Manchester, il che significa che la connettività internet della città è ora
indipendente dall’hub londinese di Level 3. Level 3 serve circa 45 mercati in
Europa e può erogare in maniera fluida servizi di trasporto oltre che di
protocollo internet (IP) da Manchester fino all’Europa occidentale e ai mercati
del Nord America.

Con effetto immediato, Level 3 ha implementato un aumento della propria rete
europea per fornire una rotta diversa per Manchester. L’annuncio giunge mentre
la città cerca di attrarre nuove attività commerciali e di stimolare lo sviluppo
economico nell’area.

“Il nostro obiettivo al Manchester Investment Development Agency Service (MIDAS)
è di promuovere l’investimento interno e lo sviluppo economico a Manchester e
l’impegno di Level 3 per rendere la città resiliente sicuramente sostiene tale
obiettivo,” ha dichiarato Katie Gallagher, direttore industrie creative al
MIDAS. “Quando le aziende devono decidere dove fare affari, la connettività è un
criterio cruciale e questo investimento fornirà accesso diretto ad una delle
maggiori colonne portanti di internet al mondo.”

La rete europea di Level 3 continua ad espandersi in linea con la domanda dei
clienti. Tale espansione segue un incremento nella sua capacità di rete in
Europa centrale e orientale. Quest’anno, la società ha investito nell’espansione
e nel radicamento della sua presenza in varie sedi in Europa, tra cui il Regno
Unito, la Repubblica Ceca, la Francia, la Germania e il Belgio. L’azienda ha in
progetto di continuare il suo investimento nelle infrastrutture e nella
connettività europee per tutto il 2010.

“Introducendo la resilienza, miglioreremo la diversità della rete lontano da
Londra, approfondendo la nostra presenza europea e potenziando le nostre opzioni
di servizi nell’area di Manchester,” ha dichiarato James Heard, presidente
Mercati europei per Level 3. “Noi riteniamo ci siano grandi potenzialità di
crescita economica in quest’area e siamo impegnati a supportare questa crescita
con soluzioni di telecomunicazione di livello mondiale.”

La rete di Level 3 oggi copre 22 Paesi, offrendo servizi in circa 190 mercati in
Europa e Nord America. La capacità viene offerta tra i due continenti su cinque
sistemi transatlantici, con sette rotte diverse. Per maggiori informazioni sulle
capacità europee di Level 3, si prega di cliccare qui..

Informazioni su Level 3 Communications

Level 3 Communications, Inc. (NASDAQ: LVLT) è un importante fornitore, operante
a livello internazionale, di servizi per la comunicazione basati su fibra
ottica. Aziende, fornitori di contenuti, operatori all’ingrosso ed enti
governativi fanno affidamento su Level 3 per la fornitura di servizi con una
combinazione leader del settore di scalabilità e valore tramite una rete
end-to-end in fibra ottica. Level 3 offre un portafoglio di servizi
metropolitani e a lunga distanza, comprendenti trasporto, traffico dati,
Internet, trasmissione di contenuti e traffico voce. Per ulteriori informazioni
si prega di visitare il sito Web www.Level3.com.

Dichiarazioni rilasciate a titolo di previsione

Alcune delle dichiarazioni riportate nel presente comunicato stampa
costituiscono dichiarazioni rilasciate a titolo di previsione. Le suddette
dichiarazioni rilasciate a titolo di previsione non costituiscono una garanzia
della performance e sono soggette a una serie di incertezze e altri fattori,
molti dei quali esulano dal controllo di Level 3, e in considerazione dei quali
gli eventi effettivi potrebbero discostarsi in maniera sostanziale da quelli
espressi esplicitamente o implicitamente in siffatte dichiarazioni. I fattori
più importanti che potrebbero impedire a Level 3 di raggiungere gli obiettivi
dichiarati comprendono, ma non in senso restrittivo, l`attuale precarietà dei
mercati finanziari a livello mondiale e dell`economia globale; cambiamenti a
carico dei mercati finanziari che potrebbero intaccare la capacità di Level 3 di
ottenere ulteriori finanziamenti; nonché la capacità della società di:
accrescere e mantenere il volume del traffico sulla rete; integrare
efficacemente le acquisizioni; sviluppare sistemi di supporto aziendali
efficaci; difendere la proprietà intellettuale e i diritti di proprietà; gestire
le interruzioni o avarie a carico di reti e sistemi; sviluppare nuovi servizi
che soddisfino la domanda dei clienti e generare margini di profitto
accettabili; adattarsi ai rapidi cambiamenti tecnologici che portino a nuova
concorrenza; attirare e mantenere personale dirigenziale e altro personale
qualificato e adempiere a tutti i termini e condizioni dei propri oneri
debitori. Ulteriori informazioni in merito a questi e ad altri fattori
importanti sono rinvenibili nei documenti depositati da Level 3 presso la
Securities and Exchange Commission. Le dichiarazioni contenute nel presente
comunicato stampa vanno vagliate tenendo in debita considerazione gli importanti
fattori di cui sopra. Level 3 non si assume alcun obbligo, e declina
espressamente qualsiasi obbligo, rispetto all`aggiornamento o alla revisione di
una qualsiasi dichiarazione rilasciata a titolo di previsione, alla luce della
disponibilità di nuove informazioni, alla luce del verificarsi di eventi futuri
o per qualsiasi altro motivo.

Il testo originale del presente annuncio, redatto nella lingua di partenza, è la
versione ufficiale che fa fede. Le traduzioni sono offerte unicamente per
comodità del lettore e devono rinviare al testo in lingua originale, che è
l’unico giuridicamente valido.

Level 3 Communications
Media:
Alexis Hammack, 720-888-2441
oppure
Investitori:
Mark Stoutenberg, 720-888-2518

Copyright Business Wire 2010

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New Philippines Office Brings a Real Alternative to Philippines Immigration Market

June 11, 2010 By Leave a Comment

LONDON, UNITED KINGDOM, Jun 10 (MARKET WIRE) —
World leading visa company Global Visas has opened a new office in the
Philippines, bringing a real professional alternative to the
under-trained and unregulated local Philippines immigration agents. The
opening of the new office provides a way for local people to get access
to professional advice and a world-leading authority on immigration law.
Thus locals wishing to move to Canada, Australia, or the UK will have
access to world-class immigration support services.

The Philippines is home to many of the world’s hardest working and most
highly skilled workers, making the Pacific island group one of the most
important sources of labour for the rest of the world. Countries like the
UK, Canada, and Australia have profited from Filipino skills, and
continue to seek them. The Philippines is the world’s largest immigration
market apart from Nigeria, so the new office is well placed to service
the requirements of the Philippines immigration market, and particularly
to provide support to locals wishing to move to Australia. For Filipinos,
Australia immigration can be particularly attractive given Australia’s
location in the Pacific Rim, enabling migrants to return home more
frequently than they could from Europe or the eastern United States.

Global businesses see the Philippines as an attractive market in which to
invest, so the new Global Visas office will also be providing support
services for immigration to the Philippines. The former Spanish colony is
a fast-growing and dynamic Asian economy in its own right, and is an
attractive place for inward investment for global businesses.

Global Visas is delighted to have its new Philippines office, supporting
not just UK, Australia and Canada immigration applications for Filipinos
migrating elsewhere, but also serving businesses seeking to bring
external skills into the local market. The new office is a strategic
addition to the worldwide Global Visas network, bringing all of the
company’s worldwide knowledge and power to a market that has previously
lacked this level of expertise.

Global Visas Philippines Manager John Clifford says, “We are looking
forward to offering regulated and professional services to people who are
all too often reliant on unregulated poor advice which frequently causes
more problems than it solves. We are very keen to take on these dubious
agencies and engage with local embassies to ask them to help us address
these issues.”

About Global Visas

Global Visas are a world leading authority on immigration and visas for
private individuals and corporate clients, providing the most
comprehensive and up-to-date visa and immigration advice available. Their
offices around the world provide immigration and visa solutions for those
travelling to America, South Africa, Australia, the UK and many other
countries. Global Visas was founded in 1996 by a former immigration
officer.

Contacts:
UK Global Visas office:
+44 (0)207 190 3903

Copyright 2010, Market Wire, All rights reserved.

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Man linked to Times Square bomb plot had Shahzad’s phone number

May 21, 2010 By Leave a Comment

New York, May 21 (ANI): A Pakistani man suspected of helping the failed bombing attempt in Times Square had bomb suspect Faisal Shahzad”s phone number on his cell phone, a federal immigration attorney revealed at a hearing Thursday.

The New York Post and the FOX News Channel reported that investigators also found an envelope with the name “Faisal” written on it in Aftab Ali Khan”s apartment.

The possible link between Khan, 27, and Shahzad was revealed at a hearing Thursday where Khan faced charges of violating immigration law by staying in the country on an expired visa.

Sources told FOX News that Khan admitted to the immigration judge that he was inside the United States illegally and offered to leave the country voluntarily.

Khan”s lawyer denied his client had any connection with Faisal Shahzad or had ever heard his name.

Khan is one of three Pakistanis believed to have helped Shahzad by providing money. The three men were arrested May 13 after a series of FBI raids across the northeastern U.S. (ANI)

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Miss Oklahoma lost Miss USA 2010 crown due to Arizona immigration law?

May 18, 2010 By Leave a Comment

New York, May 18 (ANI): It has emerged that Miss Oklahoma Morgan Elizabeth Woolard may have lost the coveted Miss USA 2010 title due to the Arizona immigration law.

Woolard had finished first runner-up to winner Rima Fakih of Michigan, and conspiracy theorists are grumbling that her support of SB 1070 may have cost her the crown.

According to Fox News, when “The Office” star Oscar Nunez posed Miss Oklahoma a question about where she stood on Arizona’s SB 1070, the crowd erupted in boos over the intrusion of politics.

“I’m a huge believer in states’ rights. I think that’s what’s so wonderful about America,” the New York Daily News quoted Woolard as saying of the law which requires state police to stop and question possible undocumented immigrants.

“So I think it’s perfectly fine for Arizona to create that law,” she had stated. (ANI)

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Shakira fights Arizona’s anti-immigration law

April 30, 2010 By Leave a Comment

London, April 30 (ANI): Colombian singer Shakira is protesting a new tough immigration law in Arizona, United States.

According to AZCentral.com, the 33-year-old singer met with the mayor of Phoenix, Phil Gordon and other government officials at City Hall to talk about the controversial law, reports The Daily Express.

If an immigrant does not have a proof of a legal residency in Arizona, he is found guilty and committing a criminal offence under the law. The police have been ordered to any person suspicious of residing illegally.

“She is in town to talk to the Mayor about the harmful effects of this bill,” City of Phoenix spokeswoman Debra Stark said. (ANI)

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Obama slams controversial Arizona immigration bill over ‘racial profiling’ fears

April 24, 2010 By Leave a Comment

Phoenix, Apr 24(ANI): Arizona Governor Jan Brewer has signed a controversial immigration Bill into state law, which U.S. President Barack Obama said could violate people’s civil rights.

The Bill, which will take effect in 90 days, will make it a crime under state law to be in the country illegally.

The measure would also require migrants to produce papers verifying their status when asked to do so by a police officer,

After signing the law, Brewer, who faces a tough election battle and growing anger in the state over illegal immigrants, said the law “protects every Arizona citizen”.

“We in Arizona have been more than patient waiting for Washington to act, but decades of inaction and misguided policy have created a dangerous and unacceptable situation,” CBS quoted Brewer, as saying.

“We must acknowledge the truth: people across America are watching Arizona. Some of those people from outside our state are waiting to see us fail. We cannot give them that chance. We must use this new tool wisely. We must react calmly,” she added.

Russell Pearce, the Republican state lawmaker who sponsored the legislation, said critics of the Bill are “against law enforcement, our citizens and the rule of law”.

However, civil rights and Hispanic groups have condemned the measure, arguing it could lead to profiling.

Obama said that he has instructed the Justice Department to examine the Arizona Bill to see if it is legal.

He had earlier said that the Federal Government must enact immigration reform at the national level.

“That includes, for example, the recent efforts in Arizona, which threaten to undermine basic notions of fairness that we cherish as Americans, as well as the trust between police and their communities that is so crucial to keeping us safe,” Obama said. (ANI)

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