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Apr 29, 2010

Mining Interactive: Tumi IP Survey Defines Drill Targets at Jonsmossen and Lovasen in Sweden. April 29th, 2010

April 29, 2010

TSXv - TM; Frankfurt -TUY (WKN 251 738); OTCBB – TUMIF

Induced Polarization (IP) Survey  Defines Drill Targets at Jonsmossen and Lovasen in Sweden
  • Surface exploration work now completed prior to financing and drilling on all of Tumi’s 100% owned licences in Sweden
Says David Henstridge, President & CEO: “this survey completes our surface exploration work prior to drilling on all of our 100% owned licences in Sweden. The AEM and ground IP have previously discovered drill targets at Vitturn and Tomtebo and have now found further drill targets at Jonsmossen and Lovasen.  These targets are in addition to further drilling required at our discovery last year at Sala of a new zone of silver-zinc mineralization.  The Company continues to explore means of financing such an interesting portfolio of targets in the well known silver and base metal mining district of Bergslagen in Sweden”

Dear Friends:
As David Henstridge says, this completes the surface exploration work prior to drilling on all of Tumi’s 100% owned licences in Sweden. 
I expect that soon the time (and of course the price of the shares) will be right to raise the financing required for this Swedish portfolio of drill-ready targets.
As always - - - Stay Tuned!!
Nick L. Nicolaas

Stay tuned for the most recent updates on Tumi Resources and other leading junior exploration companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058


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Forbes: Asia Latest Stories.- Gaining Currency. April 29th 2010

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A new breed of business models are helping firms understand their currency exposures.
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The Future Of Finance Shifts From West To East

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HSBC's CEO says developing economies, new millionaires and trade will propel the change.
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India's Urban Awakening

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Business opportunities abound as India urbanizes.
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The Most Expensive Event In History

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Shanghai gets set to welcome the world.
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Wealth of Compassion: The ''Soul-Rich'' List

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Geely's billionaire chairman gets on a list that's not about the money.
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Click for updates:

The Wall Street Journal: Jobs Attacks Flash As Unfit for iPhone . April 29th 2010 EST

Apple Inc. Chief Executive Steve Jobs escalated his fight with Adobe Systems Inc. over the software known as Flash, a battle that could shape the evolution of video and gaming on mobile devices.
Mr. Jobs—after months of criticism from Adobe and software developers for his company's decision to ban Flash from iPhones, iPods and iPads— Thursday took the unusual step of posting a lengthy essay on Apple's Web site criticizing Adobe's software as a flawed throwback to a time before smartphones caught the fancy of consumers.
"Flash was created during the PC era—for PCs and mice," Mr. Jobs wrote in an essay totaling more than 1,600 words. "The mobile era is about low power devices, touch interfaces and open Web standards—all areas where Flash falls short."
Adobe CEO Shantanu Narayen fires back at Apple CEO Steve Jobs who wrote letter, stating Adobe's Flash player was unfit for its mobile devices. WSJ's Alan Murray joins the News Hub from Adobe's headquarters with his exclusive interview with its chief executive.
Adobe CEO Shantanu Narayen fired back in an interview with The Wall Street Journal, disputing Mr. Jobs's assertions about shortcomings in Flash. That is a "smoke screen," he argued, for Apple's plan to keep its own lock over software development for its mobile devices. "It's clear that it has nothing to do with technology," he said.
The tough rhetoric underscores the huge stakes in setting key technical standards for the mobile Internet, a process that could affect the fortunes of device makers, programmers, media companies and advertisers.
Apple, a PC pioneer whose influence in that market waned, has won new power in the mobile world because of the success of the iPhone and the App Store created to supply software for it.
Analysts and industry executives don't expect Mr. Jobs to readily share that power with other standard-setters such as Adobe. "They are trying to control their ecosystem," said Jeffrey Hammond, an analyst at Forrester Research, of Apple. "It's all about control."
Mr. Jobs, through a spokeswoman, declined a request for an interview to elaborate on his essay and the reason for releasing it now.
Media companies and advertisers have privately expressed frustration about Apple's stance toward Flash because their online video and other Web content incorporates Flash. Adobe, meanwhile, has said it will try to work closely with Google Inc. to popularize Flash on phones using Google's Android system.
Flash is the most popular video format on the Web, and is also used for animation and advertising. It has been slower to take hold in cellphones, but Adobe has recently introduced new versions aimed at mobile devices.
Instead of Flash, Apple is supporting Web sites that use an emerging standard called HTML 5, which is being developed by a consortium that it is a part of alongside Google. But some Web developers say HTML 5 isn't yet ready to be used for anything besides trials.
Apple's anti-Flash policy is not new, but attained greater prominence after the iPad was first publicly demonstrated in January. With a small device like the iPhone, people expected a truncated version of the Web, but with the iPad, people had expected to be able to watch video on the device's big Web browser, said Ben Bajarin, an analyst at Creative Strategies, a research and consulting firm.
Another factor is a new version of Adobe's Creative Suite software, which includes tools for using Flash to build iPhone apps. Just before Adobe formally unveiled the software, Apple changed the terms of use for its App Store to forbid apps written with the new software.
Dave Wolf, vice president of strategy at Cynergy Systems Inc., a Washington, D.C., design firm, calls Apple's no-Flash policy "a pain." Mr. Wolf had planned to build apps for clients using the new Adobe software.
Developers are "caught in the middle," agreed David Clarke, founder of BGT Partners, a Web design firm in Miami.
The essay is a rare but not unprecedented move for Mr. Jobs. Three years ago he published a statement urging the music industry to let Apple sell music without anticopying software.
The debate has divided the media and technology industries. Adobe supporters created a Facebook page called "I'm with Adobe" that has nearly 11,000 members while others have sided with Apple.
Mr. Hammond of Forrester said many points raised by Mr. Jobs are just wrong. But other analysts disagreed. "I think Jobs summarized all the frustrations he's had," said Rick Doherty, an analyst with consulting firm Envisioneering Group. "I'd be really surprised if Adobe can challenge his arguments because they're predominantly true."
Mr. Jobs argues in his letter that Flash hasn't worked well on cellphones, shortens their battery life, adds security problems and doesn't support touch interfaces. He said Adobe's effort to use Flash to create apps for Apple's devices could cause problems if Adobe were slow to add support for Apple enhancements.
Adobe's Mr. Narayen said developers and consumers benefit from Adobe's multi-platform approach, which could ultimately make apps for iPhones work on other devices. "It doesn't benefit Apple and that's why you see this reaction," he said.
Write to Yukari Iwatani Kane at and Ben Worthen at

The Washington Post: Politics Afternoon Edition Selected Topics. April 29th 2010


1) EZRA KLEIN: Court dismisses appeal of Uighurs detained at Guantanamo Bay
"Sen. Lindsey Graham has been in the news this week for threatening to vote against the climate bill he's crafted if the Democrats move on immigration reform this year. Given that Graham is the only Republican on either bill, it's a very credible threat. We spoke about both issues, and how to move forward on them, this morning."
» Read full article

2) Lawmakers call for restrictions on political ads
"Corporations and unions would have to identify themselves on political ads they bankroll, and the CEO or top official would have to make "I approve this message" statements under legislation being introduced in Congress Thursday. "
» Read full article

3) Gulf oil spill presents a political challenge to Obama's offshore drilling plans
"The growing oil slick in the Gulf of Mexico is not only an environment danger, but also a widening political headache for President Obama, who just last month agreed to open vast stretches of the U.S. coastline to oil drilling. "
» Read full article

4) 'Casino Jack' Abramoff's sidekick Neil Volz hasn't lost appetite for good life
"'I'm mopping floors and cleaning toilets in an effort to try and do good,' he says. 'I don't know that I'd be on that path if I didn't get caught. But I can tell you that in many ways, I'm a whole lot more content now than I was then.'"
» Read full article

5) THE FIX: The questions Charlie Crist must answer -- and fast
"Florida Gov. Charlie Crist's expected announcement -- and we say 'expected' because the governor is notoriously fickle and could change his mind -- that he will leave the Republican party to run for Senate this fall as an independent raises all sorts of broad national questions about what his departure says about the state of politics in this country.."
» Read full article

Q & A Discussion 

Comment of the Day 
hoser3 , on David Weigel's 'Finally, a Ted Nugent essay on Sarah Palin's work ethic' post:
Palin/Nugent 2010

RTTNews: Evening Market Wrap.-Stocks Rally As Jobless Claims Dip, EU Moves Closer To Greek Bailout - U.S. Commentary . April 29th, 2010

Evening Market Wrap Thu Apr 29 17:01 2010 


Apr 29, 2010 Stocks Rally As Jobless Claims Dip, EU Moves Closer To Greek Bailout - U.S. Commentary Stocks rose by substantial margins on Thursday, as the markets reacted positively to news that jobless claims dropped in the U.S. and that the European Union moved closer to containing the Greek debt crisis. The major averages all closed firmly in positive territory, further offsetting Tuesday's sell-off. Full Article

Economic News

Apr 29, 2010 Weekly Jobless Claims Show Modest Decrease To 448,000 First time claims for unemployment benefits saw a modest decrease in the week ended April 24th, according to a report released by the Labor Department on Thursday, with the drop in initial jobless claims coming in roughly in line with economist estimates. Full Article
Apr 29, 2010 Obama Picks Yellen As Vice Chair Of The Federal ReservePresident Barack Obama Thursday announced his intent to nominate San Francisco Federal Reserve Bank President Janet Yellen as Vice Chairwoman of the Federal Reserve as well as to nominate two others to fill vacancies on the Fed's Board of Governors. "The depth of experience these individuals bring in economic and monetary policy, financial regulation, and consumer protection will make them tremendous assets at the Fed," Obama said. Full Article

Corporate News

Apr 29, 2010 CONSOL Energy Q1 EPS Tops Estimate, Ex-itemsCoal miner CONSOL Energy Inc. (CNX) said Thursday that its first quarter profit fell 49% from last year, as revenue remained essentially flat but costs and expenses rose. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations. Full Article
Apr 29, 2010 Shire Reports Decline In Q1 ProfitThursday, Shire plc (SHPGY, SHP.L), Britain's third largest drug manufacturer, reported a decline in profit for the first quarter due to higher expenses and a marginal decline in sales. The company said that the loss of exclusivity for its Attention-Deficit Hyperactivity Disorder or ADHD drug Adderall was partially offset by the introduction of new drugs including Intuniv and Vpriv. Full Article
Apr 29, 2010 Motorola Swings To Q1 ProfitMobile phone maker Motorola, Inc. (MOT) reported Thursday a profit for the first quarter compared to a loss last year, reflecting strong sales of smartphones and 750 basis points margin expansion. Net sales declined 6%, and missed analysts' expectations, hurt by decline in segmental sales. The company also provided earnings forecast for the second quarter, above consensus estimate. Full Article
Apr 29, 2010 Time Warner Cable Q1 Profit Soars On Higher Subscription, Ad RevenuesTime Warner Cable Inc. (TWC) Thursday reported higher first-quarter profit, driven by increases in subscription and advertising revenues. Total revenues were up 5.4% in the quarter. Time Warner Cable is one of the largest cable operators in the U.S. with 31 operating divisions and operations in 27 states. Full Article
Apr 29, 2010 Xcel Energy Q1 Profit Declines; Backs FY10 ViewElectricity producer Xcel Energy Inc. (XEL), Thursday reported a drop in first quarter quarter profit hurt by higher income tax expenses and charges, offsetting higher revenue from electric and natural gas divisions. Nevertheless, Xcel Energy's ongoing earnings beat estimates by a penny. Full Article
Apr 29, 2010 Fortune Brands Q1 Profit Soars, Tops ViewMaker of distilled spirits, home products and golf equipment Fortune Brands, Inc. (FO) reported Thursday a profit for the first quarter that soared from last year, boosted by 13% sales growth and significantly lower charges. The results were also driven by higher volumes and lower costs. Full Article
Apr 29, 2010 Exxon Mobil Q1 Profit Surges 38%, But Misses ViewOil giant Exxon Mobil Corp. (XOM) on Thursday reported a 38% surge in profit for the first quarter from last year, buoyed by higher crude oil prices and strong margins at its chemicals segment that helped offset lower refining margins. However, the results came in below analysts' expectations as the results include a charge related to the recently enacted U.S. healthcare legislation. Full Article
Apr 29, 2010 Viacom Posts Higher Profit In Q1Entertainment content company Viacom Inc. (VIA, VIAB) Thursday reported an increase in its profit for the first quarter although revenues dropped 4%, driven by lower operating costs. The company's Media Networks business generated strong revenues, but the Filmed Entertainment business's revenues were down 18%. Full Article
Apr 29, 2010 Colgate-Palmolive Q1 Profit Declines On Venezuela-related ChargesConsumer products company Colgate-Palmolive Co. (CL) Thursday reported a decline in profit for the first quarter, impacted by a hefty Venezuela-related charges. Adjusted earnings per share rose 25% on sales growth and topped analysts' estimates. Further, the company's chief executive officer expects double-digit earnings per share growth in fiscal year 2010. Full Article
Apr 29, 2010 Eastman Kodak Turns To Profit In Q1; Backs FY10 ViewEastman Kodak Co. (EK), a provider of imaging technology products and services, Thursday reported profit for the first quarter, compared with loss last year, reflecting strong sales and a favorable intellectual property transaction. The company also confirmed its earnings per share and sales outlook for fiscal 2010. Full Article
Apr 29, 2010 Bristol-Myers Squibb Q1 Profit Increases; Lowers FY10 EPS Forecast; Stock RisesPharmaceutical giant Bristol-Myers Squibb Co. (BMY) Thursday reported higher profit for the first quarter as sales rose 11%, led by the company's blockbuster drug Plavix. Adjusted earnings topped Wall Street view. Further, the company lowered its non-GAAP and GAAP earnings views for 2010. The stock is up over 5%. Full Article
Apr 29, 2010 Dominion Resources Q1 Profit Falls; Affirms FY10 EPS ViewNatural gas and electricity provider Dominion Resources Inc. (D) on Thursday posted a sharp decline in first-quarter profit, but said its operating earnings were in line with its expectations. Further, the company issued earnings forecast for the second quarter and affirmed earnings projection for the full year. Full Article
Apr 29, 2010 Waste Management Q1 Profit Up; Adj. EPS Misses ViewIntegrated waste services provider Waste Management Inc. (WM) posted an increase in its first-quarter profit, thanks to the improving commodity prices and year-over-year yield increases. However, adjusted per share earnings slipped and missed the Street view. Further, the company said it expects to meet its prior earnings forecast for the full year. Full Article

Forex Top Story

Apr 29, 2010 Dollar Pauses As Greek Rescue Seems Imminent The dollar paused on Thursday as European officials gathered in hopes of hammering out a deal to rescue Greece from its spiraling debt crisis. With last week's jobless claims figures coming in line with expectations this morning, all eyes turned to Brussels, where EU officials assured aid for Greece will be detailed sometime over the next few days. Full Article

Political News

Apr 29, 2010 Senate Republicans Finally Agree To Start Debate On Financial Reform Following several delays, the Senate voted unanimously Wednesday evening to proceed with debate on a financial regulatory reform bill. The move came as Republicans agreed to stop blocking debate after reaching an agreement with Democrats on certain issues within the bill. Full Article
Apr 29, 2010 Cornyn Says Crist Should Return Money If He Runs As An IndependentSen. John Cornyn, R-Texas, head of the National Republican Senatorial Committee, said Thursday that Florida Governor Charlie Crist should return the money donated to his campaign if he decides to run for Senate as an independent. In comments to reporters at a breakfast hosted by the Christian Science Monitor, Cornyn said he would ask Crist to return $20,000. Full Article
Apr 29, 2010 New Poll Shows Ohio Gubernatorial And Senate Races Remain TightA new Quinnipiac University poll released Thursday showed that the gubernatorial and Senate races in Ohio remain tight. The poll, which surveyed 1,568 Ohio voters April 21 - 26, showed Democratic Governor Ted Strickland with a 44% to 38% lead over Republican challenger John Kasich. Full Article
Apr 29, 2010 Obama Picks Yellen As Vice Chair Of The Federal ReservePresident Barack Obama Thursday announced his intent to nominate San Francisco Federal Reserve Bank President Janet Yellen as Vice Chairwoman of the Federal Reserve as well as to nominate two others to fill vacancies on the Fed's Board of Governors. "The depth of experience these individuals bring in economic and monetary policy, financial regulation, and consumer protection will make them tremendous assets at the Fed," Obama said. Full Article
Apr 29, 2010 Senate Democrats Unveil Bill To Counter Supreme Court's Campaign Finance DecisionLeading Senate Democrats joined together Thursday to introduce legislation to counteract a Supreme Court decision from earlier in the year that allows corporations to spend freely on campaign advertising in federal races. The bill would ban corporations under the direction or control of a foreign entity from spending in U.S. elections. Full Article
Apr 29, 2010 US: Gulf Of Mexico Oil Spill Of 'National Significance'The U.S. Department of Homeland Security on Thursday designated the oil spill created by a sunken oil platform in the Gulf of Mexico as one of "national significance," as the U.S. military offered to join in the ongoing efforts of the Coast Guard and oil companies to contain the oil slick to prevent it from becoming a major environmental disaster. Full Article

MarketWatch: Personal Finance Daily: Money squeeze on 'sandwich' boomers...April 29th, 2010

Personal Finance Daily
APRIL 29, 2010

Thursday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

If you're a "sandwich" boomer -- someone who is raising young children or still supporting adult children and caring for elderly parents or other relatives, you know what a squeeze it can be. The money, time and emotional effort that go into taking care of others' needs is money and time and emotional effort you don't have to put into yourself.

Because so many boomers delayed having children and because so many boomers' parents are living longer than ever and because so many adult children of boomers find themselves out of work or without housing, millions are already part of the sandwich generation and millions more are likely to join in the coming years.

The good news for the sandwiched is that financial experts are starting to pay more attention to their needs, conducting research and producing studies that suggest ways in which the burden of dual caregiving can be eased.

The bad news: With so many already so far behind on savings goals, the sandwich feels more like a straitjacket.

-- Steve Kerch, assistant managing editor


How 'sandwich' boomers can ease money squeeze

I spend my nights worrying about my nearly 80-year-old father and stepmother. My wife and I spend our days worrying about funding college bills for four children (expected cost $1 million at Harvard with no scholarships, loans, grants and the like). And in between those worries, I think about saving $3 million (give or take a million) for retirement. Yes, I am member of the sandwich generation. The good news is that I am not alone. There are millions upon millions of us caught in the middle. And the even better news is that there seem to be experts aplenty ruminating on solutions for this generation.
See Robert Powell.


Greece, Spain debt turmoil rattles ETF investors

The mounting debt crisis enveloping southern Europe is rattling exchange-traded funds exposed to the region and rallying ETFs that profit from uncertainty about Greece, Spain and the fate of the euro.
See ETF Investing.

Investors weigh stricter financial-sector rules

Stricter financial regulation won't necessarily derail banking and other financial services stocks, some investment strategists say.
See Fund Watch.


New flier-protection rules may mean more cancellations

Fliers in the U.S. are expected to cheer new rules going into effect this week that are meant to protect them from being stranded on tarmacs during lengthy delays, but industry experts aren't so sure they'll be cheering the higher costs and cancellations the rules may bring.
See Travel.

Is travel insurance worth the cost?

Hurricanes, earthquakes and volcanoes are Robert Hartwig's bread and butter. As president of the Insurance Information Institute, a nonprofit trade group, he circles the globe speaking to corporate executives about natural disasters and the insurers that cover them.
See Travel.


Mossberg's spring 2010 PC buyer's guide

Personal technology columnist Walt Mossberg offers tips on buying a new computer based on price and functionality.
 Watch Video Report.

Smartphones making cars smarter

Roger Cheng talks to Simon Constable about why smartphones are slowly replacing the bulky attachments of old and finding a more important role in the driving experience.
 Watch Video Report.


A 24-room apartment in 344 square feet

Hong Kong architect Gary Chang, has managed to turn his tiny apartment into a mansion of sorts, comprising more than 20 rooms. The innovation he says could improve the lives of low income people around the world.
 Watch Video Report.

Commercial real estate a good investment for 2010

Jim McTague interviews Jim McCaughan chief executive at Principal Global Investors at Milken Institute Global Conference. McCaughan recommends commercial real estate for this year and emerging markets long term.
 Watch Video Report.

Fixed-rate mortgages hold steady

Mortgage rates moved little this week, with the 30-year fixed-rate mortgage averaging 5.06%, down slightly from its 5.07% average last week. The mortgage averaged 4.84% a year ago.
See Mortgages.


Making sense of the new premium card offers

Hey, big spender: In a bid to capture your business, banks are rolling out "premium" cards that promise luxe new perks -- in exchange for higher annual fees.
See Consumer Watch.

REUTERS: Deals Today. April 29th, 2010

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Good Morning Fernando, THU 29 Apr 2010 
Palm's stock surged by about 25 percent a day after Hewlett-Packard said it would pay $1.2 billion to buy the troubled smartphone maker, but analysts said it would take a lot of doing for the technology giant to turn it around.

The deal gives HP a foothold in an increasingly competitive market dominated by the likes of Apple and Research in Motion. HP will need to invest significantly in research and development and marketing and it will undoubtedly take time to turn around Palm's negative momentum, Deutsche Bank analyst Chris Whitmore said.

It will have to invest heavily in the platform, particularly in application developer capabilities, hardware, and sales channels, to make the deal successful, BofA Merrill analyst Scott Craig said.

"We expect Palm's limited ecosystem and past mis-execution to be near-term hurdles and we are not sure why this is necessary to attempt to fill HP's portfolio," Craig said.

HP can have an impact longer term, but the key hurdle is that the $100 billion-plus smartphone market is ultra-competitive with Apple and RIM leading the charge and many others playing catch up, JP Morgan analyst Mark Moskowitz said.

Despite Palm's challenges, analysts view the valuation as relatively attractive due to Palm's strong IP portfolio & mobile operating system. The transaction only represents 10 percent of HP's expected free cash flow and likely eliminates a competitive bid, Craig said. "We do not think Palm makes strategic sense for Cisco and Google has little reason to counter bid given the investments in its Android platform," JP Morgan's Moskowitz said.

As for Dell, it needs to invest more in its enterprise solutions and services platforms, not mobility devices, for its much-discussed, long-term model revamp, Moskowitz added.

--Mansi Dutta
HP-Palm deal fresh blow to Asian smartphone laggards
PPR's retail recovery could speed up sale process
UK Takeover Panel issues Forth Ports bid deadline
Hedge fund guru sees bargains in Europe debt woes
Amadeus defies tough markets with IPO
Pru gets South Korea anti-trust nod for AIA deal: FTC
News Corp set to get EU okay for Italian bid: source
E.ON's U.S. sale proceeds to cut debt mountain
Thai government to sell TMB stake, ING evaluating
Continental, UAL meeting on potential deal: sources

HP-Palm deal fresh blow to Asian smartphone laggards
April 29, 2010 09:08 AM ET
SEOUL (Reuters) - Asian technology firms vying for a bigger share of the hot smartphone market now face an uphill battle after the world's top PC maker Hewlett-Packard snapped up Palm , stealing a march on rivals and potential bidders.

Full Article
PPR's retail recovery could speed up sale process
April 29, 2010 10:21 AM ET
PARIS (Reuters) - A shopping revival should help French group PPR more easily dispose of its retail units and fulfill its long-held ambition of refocusing on the luxury and outdoor sectors.

Full Article
UK Takeover Panel issues Forth Ports bid deadline
April 29, 2010 10:09 AM ET
LONDON (Reuters) -A trio of Forth Ports' shareholders has just under five weeks to make a formal offer for Britain's only listed ports company or must walk away for six months, the UK's Takeover Panel said on Thursday.

Full Article
Hedge fund guru sees bargains in Europe debt woes
April 29, 2010 10:50 AM ET
GENEVA (Reuters) - Southern Europe's debt crisis is creating excellent buying opportunities in certain beaten- down stocks such as Spanish and Italian banks, hedge fund veteran Philippe Jabre told Reuters on Thursday.

Full Article