Some judge issued a ruling, Argentina disagreed with it, and now the judge is holding a new hearing? Yeah, I am soo glad that Argentina had the balls to stand up to this crapolaa. Fukcing thieving vulture hedge funds and ratings agencies are the ones who should be on trial, not Argentina.
@@@@The government maintains it has not defaulted because it made a required interest payment on one of its bonds due 2033, but U.S. District Judge Thomas Griesa in Manhattan blocked that deposit in June, saying it violated his ruling. At that time, Griesa deemed the $539 million deposit with the Bank of New York Mellon, Argentina's trustee bank, was illegal because it did not include a concurrent court-ordered payment of $1.33 billion plus accrued interest to the holdout investors. Griesa scheduled a new hearing in New York on Friday at 11 a.m. EDT (1500 GMT) to discuss the default.
why would the drinks be on him today? It was a down day not an up day. Come back to the bar tomorrow and I'm pretty sure he'll be offering up free drinks.
Are you certain this is a permanent change rather than some maintenance-related issue?
I thought all that was just a temporary problem because they were doing some patching. So no more bumps huh....
No problem. By the time Earth is destroyed in a couple of hundred years, we'll already have moved on over to Mars to start anew
Good China and EU means good for Russia too. My Russian favorite NILSY has been doing nicely and I'm sure China/EU will be needing lots more nickel and palladium. Nickel supplies will start to go low later this year because of the ongoing Indonesia nickel ore ban
When did they change it? I only see the regular #$%$ one I've seen for months now.
Gee,,, maybe this?
@@@@@Argentina: Santander Río is the leading private bank in terms of asset volume and results, with an 8.6% share in credit and 9.3% in bank savings. Its network has 370 branches, 2.5 million private customers, 125,000 SME and corporate customers, and its main presence is in high-income and growing regions, with strong links to Brazil. It strategy is based on customer capture and linkage through a multi-channel approach.
That is sweet. I hope they combine the launch with another big price drop on the 55 standard HDTV to really kickstart sales as they ramp production. But I do wonder why they keep pushing curved screens...
OSAGF down hard today... delayed reaction to the massive layoffs announced by the firm as traditional lighting goes down the drain. But you can count on Buttcreamer to keep pumping AYI anyway.
@@@@@Osram Licht AG to cut almost 8,000 jobs in switch to LED technology Reuters Jul 29, 2014, 11.56PM IST BERLIN: German lighting maker Osram Licht AG announced late on Tuesday plans for a new savings programme that will include almost 8,000 job cuts, or around 23 per cent of its staff, as it seeks to keep up with a shift in technology. It said the job cuts - of which 1,700 would be in Germany and 6,100 internationally - would allow it to achieve cost savings of around 260 million euros ($348.6 million) a year by the end of the fiscal year 2017. Osram also announced third quarter results a day earlier than planned, with sales of 1.2 billion euros ($1.61 billion) and better than expected adjusted earnings before tax and interest of 104 million euros. "While earnings continue to develop nicely, the growing market acceptance of LED technology is, as already announced, causing a significantly faster decline of the traditional business," said Chief Executive Officer Wolfgang Dehen.
Bezinga! Just in time for earnings. Gotta love this BS...
@@@@@@Morgan Stanley Downgrades TransCanada, Notes Capital Inefficiencies Draw On Performance
By Garrett Cook July 28, 2014 11:36 AM BenzingaCredit Suisse on Monday downgraded TransCanada (NYSE: TRP) from Outperform to Neutral and reiterated the $58 price target.The downgrade comes as Credit Suisse sees poor risk-reward going into quarterly results, most likely driven by declines in selected forward power markets and TransCanada's plan to gradually improve capital efficiencies. Addressing capital efficiencies, Credit Suisse is seeing a slow procession toward improved capital efficiency, which is causing the bank to put a lower probability on more radical restructuring.
They still see promise in this ugly duckling. Even comparing it to the SU of old
@@@@@Suncor Energy Inc. (SU-T, SU-N) C$45.79 Unexpected Divi Hike, Cuts '14 Capex 13% - The Re-rate Continues Event: Suncor Energy Inc. (SU-T) last night released its Q2 results. While we were anticipating a relatively quiet mid-summer release, SU surprised on a couple of different fronts including: 1) a 22% hike to the quarterly dividend (note that it increased the dividend twice in 2013 — a 54% and 15% hike, respectively), and 2) a $1 bln or 13% reduction to its capital budget for 2014. We believe that these developments combined likely overshadow the miss on production and cash flow (Exhibit 1). Although oil sands mining volumes fell sequentially (10 mbbls/d of lost production, given planned coker maintenance, unplanned maintenance activities in upgrading and extraction and a third-party pipeline outage), key measures of performance such as cash operating costs continue to improve. SU also continues to deliver on a number of market access initiatives, including an increase in rail shipments to its Montreal refinery (36 mbbls/d in Q2 vs. 20 mbbls/d in Q1). TD Investment Conclusion: SU remains our top pick among the integrated names. Although SU shares have had a strong start to the year (up 21% versus its peers at 9%), we believe that there is potential for further outperformance. 1) SU today looks a lot more like the original SU with 2014 forecasted oil sands production accounting for ~79% of total production. This is not too far off the ~86% oil sands weighting prior to acquiring Petro-Canada — we note that its oil sands weighting fell to ~50%, right after the transaction closed. 2) Although SU de-rated relative to its integrated peers in the years following the Petro-Canada acquisition, the multiple gap has only closed a little since then. Given a current profile that looks a lot more like the original profile and improvements to upgrader reliability and the cost structure
Ya hear that S.TO management? Debt reduction... NOT an acquisition. Focus on ramping and improving the efficiency of the nickel operations and the profits will come naturally as nickel prices soar. For once, stay the course you dimwits. It's not rocket science.
@@@@@Q2/14 -- Ambatovy Making Progress; Debt Reduction a Priority
Event : Sherritt reported a Q2/14 loss from continuing operations of $(0.16) versus TD estimate of $(0.03) and consensus of $(0.09). The miss relative to our estimate was largely attributable to Ambatovy, where throughput was lower than expected because of unanticipated mechanical issues and also
because of higher corporate SG&A costs. Finished nickel production guidance for Ambatovy for 2014 has been lowered by ~10%. Impact: MIXED Sherritt reported that Ambatovy achieved its first positive quarterly
adjusted EBITDA of $2.1 million (Sherritt’s share); however, this came in below our expectations of $14.9 million. Management notes that it has brought additional technical staff to the Ambatovy site to support the continued ramp-up Moa acid plant likely to be delayed TD Investment Conclusion: We are maintaining our BUY recommendation and $6.50 target price. In our view, Sherritt’s Ambatovy nickel operation is poised for significant improvement in production and we expect that this will lift the veil of uncertainty that has overhung the share price for the past five years. In addition, the pending debt reduction and restructuring following the closing of the coal asset sale in Q2/14 and the resulting improvement in the company’s balance sheet should reassure investors.
Even after mediocre earnings. At least someone knows where nickel prices are headed....
* Sherritt International Corp : Paradigm Capital ups target to C$8.50 from C$6.50; buy
#$%$ the Ratings Agencies and #$%$ the Vulture Hedge Funds. Argentina made a simple and reasonable request for these holdouts to wait for demand clauses on those old bonds they hold to expire end of 2014 and they would have been paid in FULL. Instead these greedy scumsukkers will get NOTHING. Good! I am happy Argentina stuck firm and exposed them as the thieving bashterds they are for all the world to see.