Notícias do fim-de-semana, 28 e 29 de Dezembro de 2002
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Iraq gives names of scientists to U.N. inspectors
Iraq gives names of scientists to U.N. inspectors
Saturday, December 28, 2002 Posted: 1:48 PM EST (1848 GMT)
U.N. weapons inspectors arrive at a plant south of Baghdad Saturday.
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SPECIAL REPORT
• Timeline: U.N. weapons inspections
• Maps: Suspected weapons facilities
• Map: Potential U.S. military bases
• Document: Iraqi weapons declaration
RELATED
• Keep up with latest developments in the Iraq Tracker
BAGHDAD, Iraq (CNN) -- Iraq gave United Nations weapons inspectors a list of more than 500 scientists associated with its weapons programs, a spokesman for the inspectors said Saturday.
Hiro Ueki said U.N. Monitoring and Verification and Inspection Commission (UNMOVIC) chief Hans Blix had requested the list in a letter sent to the Iraqis on December 12. The deadline to come up with the list was December 31.
"Today we have received from the Iraqi national monitoring directorate a list of names of those associated with chemical, biological and nuclear and ballistic weapons," the spokesman said at a press briefing in Baghdad. "The list contains over 500 names."
On Friday, inspectors interviewed a scientist -- who later said on Iraqi television that Iraq had no nuclear program -- about a "possible prelude to a clandestine nuclear program," a spokesman for the inspectors said.
Search continues
A team of missile experts went to Al-Qa'qa Saturday, a site listed by British intelligence officials as a chemical complex that may be producing phosgene, which can be used as a chemical agent.
The facility -- located in al-Latifiya near Baghdad -- was severely damaged in the 1991 Persian Gulf War but has been repaired and is operational, according to a British white paper released on Iraq in September.
Other inspection teams fanned out across Baghdad, visiting a variety of sites as part of the United Nations' search for evidence that Iraq is developing a nuclear or biological weapons program.
Biological weapons inspectors headed to the Al-Kindi facility in Abu Greb and the Yafa Juice Company in Za'faraniya.
Hiro Ueki, a spokesman for the U.N. weapons inspectors
Another UNMOVIC team searched a private import-export business, Al-Najah.
After arms monitors interviewed the Iraqi scientist, Qadhem Mijbil, on Friday, he appeared in a news conference Saturday on Iraqi television, distancing himself from the country's past nuclear program.
"We don't have a nuclear program by the way, now, it's a past program, but really I don't know what kind of materials could be used in the nuclear program," he said.
Qadhem is a metallurgist from al-Raya, a well-known state company that is part of Iraq's Military Industrialization Commission, according to the Iraqi foreign ministry.
The scientist specializes in the use of aluminum pipes used to make missiles with a range of 10 kilometers (6 miles), according to the ministry, however Britain has accused Iraq of using the pipes in the process of producing depleted uranium.
Qadhem said he did not know the nuclear uses for the aluminum pipes.
"I'm a scientist and I don't respond to questions about intelligence, I can only talk about scientific issues," he said.
Iraq has admitted to previous efforts to obtain nuclear weapons, but insists it has no weapons of mass destruction programs now.
"Dr. Qadhem, with all due respect, has absolutely no relation with proscribed past programs," Gen. Hossam Amin, the head of Iraq's National Monitoring Directorate, told state television Friday.
Qadhem said a representative of the National Monitoring Directorate was present for the interview -- something he insisted his colleagues also request, as he did, if they are interviewed by the inspectors.
The inspectors are under U.S. pressure to take scientists and their families out of Iraq for the interviews. U.S. officials have said they believe the scientists would speak more freely if they were assured that Iraqi President Saddam Hussein could not retaliate.
The IAEA began interviewing scientists this week. The U.N. Monitoring and Verification and Inspection Commission, which is searching Iraq for evidence of chemical or biological weapons or high-powered missiles, has not yet conducted such interviews.
A U.N. official said several issues need to be worked out before that can be done, including arrangements for secure interview facilities.
U.S. readies carriers for Gulf duty
Meanwhile, the U.S. Navy has been told to prepare two aircraft carriers for deployment to the Persian Gulf after New Year's Day, naval officials told CNN on Friday.
A "prepare to deploy" order has been issued for a carrier to move from both the East Coast and the West Coast. (Full story)
President Bush has threatened possible U.S.-led military action against Iraq if it refuses to abide by United Nations resolutions calling for it to disarm itself of alleged weapons of mass destruction.
On December 7 Iraq delivered to U.N. weapons inspectors 11,000-pages of what Baghdad said were details of its weapons of mass destruction programs and possible facilities that might be used to develop them.
U.N. Resolution 1441 -- passed unanimously by the U.N. Security Council on November 8 -- demanded the Iraqi documents be handed over by December 8.
The resolution also called on Iraq to abide by all the U.N. resolutions that Iraq promised to follow in a ceasefire agreement reached after it lost the Gulf War
Saturday, December 28, 2002 Posted: 1:48 PM EST (1848 GMT)
U.N. weapons inspectors arrive at a plant south of Baghdad Saturday.
--------------------------------------------------------------------------------
Story Tools
--------------------------------------------------------------------------------
SPECIAL REPORT
• Timeline: U.N. weapons inspections
• Maps: Suspected weapons facilities
• Map: Potential U.S. military bases
• Document: Iraqi weapons declaration
RELATED
• Keep up with latest developments in the Iraq Tracker
BAGHDAD, Iraq (CNN) -- Iraq gave United Nations weapons inspectors a list of more than 500 scientists associated with its weapons programs, a spokesman for the inspectors said Saturday.
Hiro Ueki said U.N. Monitoring and Verification and Inspection Commission (UNMOVIC) chief Hans Blix had requested the list in a letter sent to the Iraqis on December 12. The deadline to come up with the list was December 31.
"Today we have received from the Iraqi national monitoring directorate a list of names of those associated with chemical, biological and nuclear and ballistic weapons," the spokesman said at a press briefing in Baghdad. "The list contains over 500 names."
On Friday, inspectors interviewed a scientist -- who later said on Iraqi television that Iraq had no nuclear program -- about a "possible prelude to a clandestine nuclear program," a spokesman for the inspectors said.
Search continues
A team of missile experts went to Al-Qa'qa Saturday, a site listed by British intelligence officials as a chemical complex that may be producing phosgene, which can be used as a chemical agent.
The facility -- located in al-Latifiya near Baghdad -- was severely damaged in the 1991 Persian Gulf War but has been repaired and is operational, according to a British white paper released on Iraq in September.
Other inspection teams fanned out across Baghdad, visiting a variety of sites as part of the United Nations' search for evidence that Iraq is developing a nuclear or biological weapons program.
Biological weapons inspectors headed to the Al-Kindi facility in Abu Greb and the Yafa Juice Company in Za'faraniya.
Hiro Ueki, a spokesman for the U.N. weapons inspectors
Another UNMOVIC team searched a private import-export business, Al-Najah.
After arms monitors interviewed the Iraqi scientist, Qadhem Mijbil, on Friday, he appeared in a news conference Saturday on Iraqi television, distancing himself from the country's past nuclear program.
"We don't have a nuclear program by the way, now, it's a past program, but really I don't know what kind of materials could be used in the nuclear program," he said.
Qadhem is a metallurgist from al-Raya, a well-known state company that is part of Iraq's Military Industrialization Commission, according to the Iraqi foreign ministry.
The scientist specializes in the use of aluminum pipes used to make missiles with a range of 10 kilometers (6 miles), according to the ministry, however Britain has accused Iraq of using the pipes in the process of producing depleted uranium.
Qadhem said he did not know the nuclear uses for the aluminum pipes.
"I'm a scientist and I don't respond to questions about intelligence, I can only talk about scientific issues," he said.
Iraq has admitted to previous efforts to obtain nuclear weapons, but insists it has no weapons of mass destruction programs now.
"Dr. Qadhem, with all due respect, has absolutely no relation with proscribed past programs," Gen. Hossam Amin, the head of Iraq's National Monitoring Directorate, told state television Friday.
Qadhem said a representative of the National Monitoring Directorate was present for the interview -- something he insisted his colleagues also request, as he did, if they are interviewed by the inspectors.
The inspectors are under U.S. pressure to take scientists and their families out of Iraq for the interviews. U.S. officials have said they believe the scientists would speak more freely if they were assured that Iraqi President Saddam Hussein could not retaliate.
The IAEA began interviewing scientists this week. The U.N. Monitoring and Verification and Inspection Commission, which is searching Iraq for evidence of chemical or biological weapons or high-powered missiles, has not yet conducted such interviews.
A U.N. official said several issues need to be worked out before that can be done, including arrangements for secure interview facilities.
U.S. readies carriers for Gulf duty
Meanwhile, the U.S. Navy has been told to prepare two aircraft carriers for deployment to the Persian Gulf after New Year's Day, naval officials told CNN on Friday.
A "prepare to deploy" order has been issued for a carrier to move from both the East Coast and the West Coast. (Full story)
President Bush has threatened possible U.S.-led military action against Iraq if it refuses to abide by United Nations resolutions calling for it to disarm itself of alleged weapons of mass destruction.
On December 7 Iraq delivered to U.N. weapons inspectors 11,000-pages of what Baghdad said were details of its weapons of mass destruction programs and possible facilities that might be used to develop them.
U.N. Resolution 1441 -- passed unanimously by the U.N. Security Council on November 8 -- demanded the Iraqi documents be handed over by December 8.
The resolution also called on Iraq to abide by all the U.N. resolutions that Iraq promised to follow in a ceasefire agreement reached after it lost the Gulf War
- Mensagens: 23939
- Registado: 5/11/2002 11:30
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Strategists Call for Gains -- Again: European Stocks Outlook
Strategists Call for Gains -- Again: European Stocks Outlook
By John Fraher
Frankfurt, Dec. 28 (Bloomberg) -- European stock indexes will snap their losing streaks in 2003, according to a survey of equity strategists. Then again, they said much the same thing at this time last year.
Benchmarks for the region will climb 20 percent next year, according to the median forecast of 12 strategists contacted by Bloomberg News, as an economic recovery boosts profit.
A similar survey last year found that strategists were predicting gains of more than 10 percent for 2002. Instead, the Dow Jones Stoxx 50 and Stoxx 600 indexes have fallen by about a third, the biggest declines since their history started in 1986. The Stoxx 50's loss erased about $1.3 trillion from the value of its members.
``It's hard not to be cynical'' about forecasts for next year, said Pieter Spierings, who helps manage about 6.4 billion euros ($6.6 billion) at Kempen & Co. in Amsterdam. ``I want to see proof'' of a recovery before buying stock, said Spierings, who favors health-care companies.
This week, the Stoxx 50 dropped 2.8 percent and the Stoxx 600 dropped 2.7 percent in holiday-shortened trading.
All markets will close next week for New Year's Day. Most exchanges will also close for New Year's Eve, though markets in France, Belgium, the Netherlands and Portugal will open. Trading in the U.K. and Ireland will halt that day at 12:30 p.m. London time. The Swiss market will be shut Thursday.
Wider Range
For 2003, the most bullish forecast comes from ING BHF-Bank AG. The unit of ING Groep NV expects the Dow Jones Euro Stoxx 50 Index, a measure limited to countries that have adopted the euro as their currency, to rise 47 percent.
At the other extreme is Merrill Lynch & Co., which sees the index falling 3.6 percent for a fourth year of declines. The broker had predicted a 5 percent to 10 percent gain in 2002.
Last year, the range of forecasts was narrower. Every one of the strategists predicted increases, ranging from 4 percent to 20 percent. The greater disagreement about the outlook for next year reflects doubts about the prospects for economic growth and the potential for a war with Iraq, some investors said.
The widening is ``symptomatic of the uncertainty'' about Iraq, said Tony Zucker, who oversees $1 billion at Thames River Capital in London.
A protracted conflict might damage consumer confidence and disrupt oil supplies from the Middle East, pushing up the price of crude oil and crimping an economic recovery. Brent crude, a benchmark for two-thirds of the world's oil supply, has risen more than 50 percent this year to a two-year high.
`Very Skeptical'
Whatever happens in Iraq, estimates for economic growth in Europe next year are being ratcheted down. The European Central Bank predicts the economy will expand as little as 1.1 percent next year, down from an estimate six months ago of 2.1 percent.
Even so, analysts are forecasting that earnings of Stoxx 600 companies will rise 24 percent next year, according to JCF Group, a financial information company.
``Many institutional investors are already very skeptical about those figures,'' said Peter Braendle, who manages 1.2 billion Swiss francs ($840 million) at Swissca Portfolio Management in Zurich.
Concern about the accuracy of earnings estimates helps account for Merrill Lynch's bearish outlook on stocks, said Khuram Chaudhry, a European equity strategist at the firm.
``A lot of earnings downgrades are coming through into the market and that's throwing question marks over a recovery,'' he said. The profit outlook doesn't indicate that share prices will rise next year, he said.
U.S. Dependence
Chaudhry said he expects Europe's central bank and its U.S. counterpart to stop lowering borrowing costs. He also anticipates a war between the U.S. and Iraq, which will probably boost energy prices and fuel costs.
Strategists that forecast higher share prices next year agree that profit growth in Europe will depend on an expanding U.S. economy. Europe's 300 biggest companies rely on the world's biggest economy for about a fifth of their revenue, according to HSBC Holdings Plc.
``The U.S. will provide the strongest impulses for the economy and the stock market next year,'' said Roland Ziegler, a European equity strategist at ING BHF-Bank.
There are signs the U.S. economy is improving, bolstered by the Federal Reserve's November cut in its benchmark interest rate to a 41-year low of 1.25 percent. For instance, the University of Michigan's consumer sentiment index rose to 86.7 in December from a nine-year low of 80.6 in October.
`Mediocre' Outlook
On Thursday, the Reuters Purchasing Managers' Index for the dozen countries that share the euro will provide evidence of the outlook for industry in that region.
The index probably rose to 49.7 in December, according to the median forecast by 17 economists surveyed by Bloomberg. A number below 50 indicates contraction from the previous month, while a number above 50 indicates expansion.
Many European companies are pessimistic about 2003. Alcatel SA, the region's largest phone-equipment maker, said this month that demand for its products will probably deteriorate. Pearson Plc, publisher of the Financial Times, said it doesn't expect a recovery in the advertising market.
``We would only expect double-digit earnings growth if and when we see an upturn in final demand,'' said Bob Parker, deputy chairman of Credit Suisse Asset Management, which has $303 billion under management. ``The outlook for global growth next year is mediocre.''
Even if the Stoxx 500 does rise 20 percent next year, the gain would only return the index to its reading last July. The benchmark would still be about a fifth lower than its close at the end of 2001.
By John Fraher
Frankfurt, Dec. 28 (Bloomberg) -- European stock indexes will snap their losing streaks in 2003, according to a survey of equity strategists. Then again, they said much the same thing at this time last year.
Benchmarks for the region will climb 20 percent next year, according to the median forecast of 12 strategists contacted by Bloomberg News, as an economic recovery boosts profit.
A similar survey last year found that strategists were predicting gains of more than 10 percent for 2002. Instead, the Dow Jones Stoxx 50 and Stoxx 600 indexes have fallen by about a third, the biggest declines since their history started in 1986. The Stoxx 50's loss erased about $1.3 trillion from the value of its members.
``It's hard not to be cynical'' about forecasts for next year, said Pieter Spierings, who helps manage about 6.4 billion euros ($6.6 billion) at Kempen & Co. in Amsterdam. ``I want to see proof'' of a recovery before buying stock, said Spierings, who favors health-care companies.
This week, the Stoxx 50 dropped 2.8 percent and the Stoxx 600 dropped 2.7 percent in holiday-shortened trading.
All markets will close next week for New Year's Day. Most exchanges will also close for New Year's Eve, though markets in France, Belgium, the Netherlands and Portugal will open. Trading in the U.K. and Ireland will halt that day at 12:30 p.m. London time. The Swiss market will be shut Thursday.
Wider Range
For 2003, the most bullish forecast comes from ING BHF-Bank AG. The unit of ING Groep NV expects the Dow Jones Euro Stoxx 50 Index, a measure limited to countries that have adopted the euro as their currency, to rise 47 percent.
At the other extreme is Merrill Lynch & Co., which sees the index falling 3.6 percent for a fourth year of declines. The broker had predicted a 5 percent to 10 percent gain in 2002.
Last year, the range of forecasts was narrower. Every one of the strategists predicted increases, ranging from 4 percent to 20 percent. The greater disagreement about the outlook for next year reflects doubts about the prospects for economic growth and the potential for a war with Iraq, some investors said.
The widening is ``symptomatic of the uncertainty'' about Iraq, said Tony Zucker, who oversees $1 billion at Thames River Capital in London.
A protracted conflict might damage consumer confidence and disrupt oil supplies from the Middle East, pushing up the price of crude oil and crimping an economic recovery. Brent crude, a benchmark for two-thirds of the world's oil supply, has risen more than 50 percent this year to a two-year high.
`Very Skeptical'
Whatever happens in Iraq, estimates for economic growth in Europe next year are being ratcheted down. The European Central Bank predicts the economy will expand as little as 1.1 percent next year, down from an estimate six months ago of 2.1 percent.
Even so, analysts are forecasting that earnings of Stoxx 600 companies will rise 24 percent next year, according to JCF Group, a financial information company.
``Many institutional investors are already very skeptical about those figures,'' said Peter Braendle, who manages 1.2 billion Swiss francs ($840 million) at Swissca Portfolio Management in Zurich.
Concern about the accuracy of earnings estimates helps account for Merrill Lynch's bearish outlook on stocks, said Khuram Chaudhry, a European equity strategist at the firm.
``A lot of earnings downgrades are coming through into the market and that's throwing question marks over a recovery,'' he said. The profit outlook doesn't indicate that share prices will rise next year, he said.
U.S. Dependence
Chaudhry said he expects Europe's central bank and its U.S. counterpart to stop lowering borrowing costs. He also anticipates a war between the U.S. and Iraq, which will probably boost energy prices and fuel costs.
Strategists that forecast higher share prices next year agree that profit growth in Europe will depend on an expanding U.S. economy. Europe's 300 biggest companies rely on the world's biggest economy for about a fifth of their revenue, according to HSBC Holdings Plc.
``The U.S. will provide the strongest impulses for the economy and the stock market next year,'' said Roland Ziegler, a European equity strategist at ING BHF-Bank.
There are signs the U.S. economy is improving, bolstered by the Federal Reserve's November cut in its benchmark interest rate to a 41-year low of 1.25 percent. For instance, the University of Michigan's consumer sentiment index rose to 86.7 in December from a nine-year low of 80.6 in October.
`Mediocre' Outlook
On Thursday, the Reuters Purchasing Managers' Index for the dozen countries that share the euro will provide evidence of the outlook for industry in that region.
The index probably rose to 49.7 in December, according to the median forecast by 17 economists surveyed by Bloomberg. A number below 50 indicates contraction from the previous month, while a number above 50 indicates expansion.
Many European companies are pessimistic about 2003. Alcatel SA, the region's largest phone-equipment maker, said this month that demand for its products will probably deteriorate. Pearson Plc, publisher of the Financial Times, said it doesn't expect a recovery in the advertising market.
``We would only expect double-digit earnings growth if and when we see an upturn in final demand,'' said Bob Parker, deputy chairman of Credit Suisse Asset Management, which has $303 billion under management. ``The outlook for global growth next year is mediocre.''
Even if the Stoxx 500 does rise 20 percent next year, the gain would only return the index to its reading last July. The benchmark would still be about a fifth lower than its close at the end of 2001.
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
UAL Wins Some Union Concessions, Still Seeks to Scrap Contra
12/28 01:01
UAL Wins Some Union Concessions, Still Seeks to Scrap Contracts
By Mary Wisniewski
Chicago, Dec. 28 (Bloomberg) -- UAL Corp.'s United Airlines said it won tentative wage and benefit concessions from four of its unions and asked a federal bankruptcy judge for permission to scrap labor contracts should employees reject the proposed cuts.
Unions representing pilots, flight attendants, dispatchers and meteorologists reached agreements with the company Friday that still have to be ratified by members. United asked U.S. Bankruptcy Judge Eugene Wedoff to order union mechanics, who rejected concessions, to accept cuts to reach a goal of $70 million in monthly savings.
Chicago-based United has the highest labor costs in the industry and wants to reduce such expenses by $2.4 billion annually. The company filed the biggest airline bankruptcy Dec. 9. The court request may encourage unions to bargain with United so it doesn't have to abandon the employee contracts, said Aaron Gellman, a Northwestern University professor.
``They're much more under the gun than is the company, which is already in bankruptcy,'' said Gellman, who follows the transportation industry. ``I would expect them to encourage their members like never before to be more forthcoming.''
Union mechanics plan to object in court to United's efforts to gain emergency wage reductions, the International Association of Machinists said on its Web site. The union rejected wage concessions prior to United's bankruptcy filing.
``Non-negotiable pay cuts proposed by United for IAM members as `take it or leave it' measures were rejected by the district leadership and will not be presented to IAM membership for ratification,'' Scotty Ford, president of United's mechanics district, said in a statement.
Buying Time
United said last week it needs new contracts by Feb. 15 to meet requirements for its $1.5 billion bankruptcy financing. Proposed cuts ``would buy United and its employees an additional 10 weeks to exhaust every conceivable means by which to address and resolve'' labor issues, the company said in a statement.
If Wedoff won't order the Machinists to accept temporary cuts or if other unions don't ratify agreements, UAL plans to seek a final court ruling by Feb. 15 rejecting the labor contracts.
In a statement, United Chief Executive Officer Glenn Tilton called the tentative agreements a ``crucial first step'' in efforts to change the way United does business.
``Today we begin the process of reaching agreements on the critical work of taking costs out of our system,'' Tilton said.
`Biggest Single Problem'
The International Association of Machinists represents 37,500 workers at United Airlines, including mechanics and kitchen workers.
United is asking pilots to take the biggest temporary pay cut at 29 percent. Workers represented by the Machinists' union are being asked to take a 13 percent interim cut.
``The biggest single problem United faces is rationalizing the wages they pay, particularly to pilots,'' Gellman said.
United wants the unions to ratify the agreements by Jan. 8. UAL said it is ``prepared to withdraw'' its request to reject the contracts if an agreement on permanent cuts is reached. A hearing on the request is scheduled for Monday.
Shares of UAL rose 9 cents to $1.38 in New York Stock Exchange composite trading.
``We remain committed to working with the company to come up with a rational business plan,'' said David Kelly, a spokesman for the Air Line Pilots Association. ``This filing does not change that approach.''
`High Standard'
Kelly said the agreement for temporary cuts must be reviewed by union leadership and the 9,000 pilots.
The United Association of Flight Attendants had no immediate comment, said Christopher Clarke, a spokesman for the union.
U.S. bankruptcy law requires a company to prove that it has bargained in good faith with unions before asking a judge to throw out a contract.
``This is a really high standard to meet,'' attorney Gregory Buhler said last week. Buhler is a partner with Schnader, Harrison, Segal & Lewis and represents some UAL lenders and companies that lease planes to United.
Elk Grove Township, Illinois-based United is the world's second-largest airline after AMR Corp.'s American Airlines. The company listed $24.2 billion in assets in an October regulatory filing
UAL Wins Some Union Concessions, Still Seeks to Scrap Contracts
By Mary Wisniewski
Chicago, Dec. 28 (Bloomberg) -- UAL Corp.'s United Airlines said it won tentative wage and benefit concessions from four of its unions and asked a federal bankruptcy judge for permission to scrap labor contracts should employees reject the proposed cuts.
Unions representing pilots, flight attendants, dispatchers and meteorologists reached agreements with the company Friday that still have to be ratified by members. United asked U.S. Bankruptcy Judge Eugene Wedoff to order union mechanics, who rejected concessions, to accept cuts to reach a goal of $70 million in monthly savings.
Chicago-based United has the highest labor costs in the industry and wants to reduce such expenses by $2.4 billion annually. The company filed the biggest airline bankruptcy Dec. 9. The court request may encourage unions to bargain with United so it doesn't have to abandon the employee contracts, said Aaron Gellman, a Northwestern University professor.
``They're much more under the gun than is the company, which is already in bankruptcy,'' said Gellman, who follows the transportation industry. ``I would expect them to encourage their members like never before to be more forthcoming.''
Union mechanics plan to object in court to United's efforts to gain emergency wage reductions, the International Association of Machinists said on its Web site. The union rejected wage concessions prior to United's bankruptcy filing.
``Non-negotiable pay cuts proposed by United for IAM members as `take it or leave it' measures were rejected by the district leadership and will not be presented to IAM membership for ratification,'' Scotty Ford, president of United's mechanics district, said in a statement.
Buying Time
United said last week it needs new contracts by Feb. 15 to meet requirements for its $1.5 billion bankruptcy financing. Proposed cuts ``would buy United and its employees an additional 10 weeks to exhaust every conceivable means by which to address and resolve'' labor issues, the company said in a statement.
If Wedoff won't order the Machinists to accept temporary cuts or if other unions don't ratify agreements, UAL plans to seek a final court ruling by Feb. 15 rejecting the labor contracts.
In a statement, United Chief Executive Officer Glenn Tilton called the tentative agreements a ``crucial first step'' in efforts to change the way United does business.
``Today we begin the process of reaching agreements on the critical work of taking costs out of our system,'' Tilton said.
`Biggest Single Problem'
The International Association of Machinists represents 37,500 workers at United Airlines, including mechanics and kitchen workers.
United is asking pilots to take the biggest temporary pay cut at 29 percent. Workers represented by the Machinists' union are being asked to take a 13 percent interim cut.
``The biggest single problem United faces is rationalizing the wages they pay, particularly to pilots,'' Gellman said.
United wants the unions to ratify the agreements by Jan. 8. UAL said it is ``prepared to withdraw'' its request to reject the contracts if an agreement on permanent cuts is reached. A hearing on the request is scheduled for Monday.
Shares of UAL rose 9 cents to $1.38 in New York Stock Exchange composite trading.
``We remain committed to working with the company to come up with a rational business plan,'' said David Kelly, a spokesman for the Air Line Pilots Association. ``This filing does not change that approach.''
`High Standard'
Kelly said the agreement for temporary cuts must be reviewed by union leadership and the 9,000 pilots.
The United Association of Flight Attendants had no immediate comment, said Christopher Clarke, a spokesman for the union.
U.S. bankruptcy law requires a company to prove that it has bargained in good faith with unions before asking a judge to throw out a contract.
``This is a really high standard to meet,'' attorney Gregory Buhler said last week. Buhler is a partner with Schnader, Harrison, Segal & Lewis and represents some UAL lenders and companies that lease planes to United.
Elk Grove Township, Illinois-based United is the world's second-largest airline after AMR Corp.'s American Airlines. The company listed $24.2 billion in assets in an October regulatory filing
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
Out with the old...
Out with the old...
In a week that straddles 2002 and 2003, investors mull what comes next.
December 27, 2002: 4:15 PM EST
By Justin Lahart, CNN/Money Staff Writer
NEW YORK (CNN/Money) - When 2002 kicked off you'd have been hard-pressed to spit on Wall Street without hitting someone who thought that a third year down for stocks was out of the question.
History argued for an up year, after all -- three down years in the red hadn't happened since the set that ended with 1941. The market had shown surprising resilience from the shock of Sept. 11, the economy was on the mend and the worries over corporate governance that had arisen following the Enron scandal had proved overblown.
If the odds against three down years were long, they're incredibly stacked against four in a row -- the only time that happened in the history of the Dow Jones industrial average was the period spanning from 1929 through 1932. Despite this, the swagger and confidence that stocks will plow their way into the coming year isn't there like it was last year.
Although Wall Streeters tend to be disposed toward thinking that good things lie ahead for stocks, as they head into a week that straddles the new and old years that optimism is tempered by economic and geopolitical uncertainty. (For a full review of Wall Street forecasters' views for 2003 click here.)
"The market is still adjusting to lower profits expectations, and beyond that it just can't make decisions with the world situation being what it is," said Credit Suisse Asset Management managing director Stanley Nabi.
Currently, analysts expect earnings for companies in the S&P 500 to grow by around 14 percent in 2003. Despite his expectation of an increasingly robust economy through the year, Nabi thinks earnings growth of 10 percent is more reasonable.
As for the geopolitical situation, Nabi worries not just that investors are still acting as though a war with Iraq will be a short affair, but that they have yet to come to terms with what war and its aftermath would do to the budget.
"If we go to war with Iraq, I don't know how we're going to escape a $400 billion deficit," he said. "That is a number that is going to spook markets."
Still Nabi expects that the market will be able to keep pace with earnings growth, gaining somewhere around 10 percent at the end of another volatile year.
Hard facts on smokestacks
A key report on the manufacturing economy Thursday -- the first trading day of 2003 -- will give Wall Streeters something to do besides mull what the year ahead might bring. Economists think that the Institute for Supply Management's Purchasing Managers' Index for December will show a slight rise, coming in at 50.2 compared with 49.2; the stock market will cheer if it exceeds these expectations, groan if it does not. (For a line-up of key events in the week ahead, click here.)
The Purchasing Managers' Index measures manufacturing activity, but it also gives a good early read on where the overall economy is heading. It plunged in July, for example, a drop that augured the weakness that rolled over the economy this fall. Such fireworks are unlikely this time around, thinks Banc of America Securities chief economist Mickey Levy. Manufacturers are running lean, which should keep them stable absent a sharp drop-off in demand.
But for manufacturing activity to pick up significantly, there needs to be a pick-up in demand, particularly from companies for new capital equipment. That won't come until later in the year.
"We have strong economic fundamentals and stimulative monetary and fiscal policies," said Levy. "But we've had a number of factors [like worries over Iraq] that have been inhibiting faster growth. I think we'll see the economy pick up in 2003 as a lot of the things that have weighed on the economy dissipate."
Key events in the week ahead
Expect to see nothing but continued strength in the housing sector in Monday's report on existing home sales for November. Economists surveyed by Briefing.com expect sales hit an annualized rate of 5.69 million last month, down slightly from October's record 5.77 million. But since new home sales hit a new record in November, economists' forecasts may be too conservative.
The Conference Board releases its report on consumer confidence for December on Tuesday. Given the improvement in the University of Michigan's recent soundings on consumer sentiment, economists expect the Conference Board's confidence index rose to 86 from November's 84.1.
The Chicago-area purchasing managers' index comes out on Tuesday. Although it has a good track record for predicting the national purchasing managers' index, this was not the case in November, when the Chicago PMI rose sharply but the national PMI fell. For December economists expect the Chicago PMI slipped slightly, to 52.8 from 54.3.
Markets are closed Wednesday for New Year's Day. Happy 2003!
December car and truck sales figures get released Thursday. Economists expect that total vehicle sales rose to an annualized 13.1 million, the best level since August. Still, sales aren't responding to the car companies' generous incentive programs like they did early in 2002.
Thursday, the Institute for Supply Management releases the results of its Purchasing Managers' Index for December. The key reading on the health of the manufacturing sector and a leading indicator of the direction of the overall economy, economists expect the PMI rose slightly from November's 49.2 to 50.2. Any number over 50 indicates expansion in the manufacturing economy; below 50 signals contraction.
Friday the Commerce Department releases figures on construction spending in November. Economists expect overall spending rose just 0.1 percent from October -- weakness in commercial construction is offsetting residential construction's strength.
In a week that straddles 2002 and 2003, investors mull what comes next.
December 27, 2002: 4:15 PM EST
By Justin Lahart, CNN/Money Staff Writer
NEW YORK (CNN/Money) - When 2002 kicked off you'd have been hard-pressed to spit on Wall Street without hitting someone who thought that a third year down for stocks was out of the question.
History argued for an up year, after all -- three down years in the red hadn't happened since the set that ended with 1941. The market had shown surprising resilience from the shock of Sept. 11, the economy was on the mend and the worries over corporate governance that had arisen following the Enron scandal had proved overblown.
If the odds against three down years were long, they're incredibly stacked against four in a row -- the only time that happened in the history of the Dow Jones industrial average was the period spanning from 1929 through 1932. Despite this, the swagger and confidence that stocks will plow their way into the coming year isn't there like it was last year.
Although Wall Streeters tend to be disposed toward thinking that good things lie ahead for stocks, as they head into a week that straddles the new and old years that optimism is tempered by economic and geopolitical uncertainty. (For a full review of Wall Street forecasters' views for 2003 click here.)
"The market is still adjusting to lower profits expectations, and beyond that it just can't make decisions with the world situation being what it is," said Credit Suisse Asset Management managing director Stanley Nabi.
Currently, analysts expect earnings for companies in the S&P 500 to grow by around 14 percent in 2003. Despite his expectation of an increasingly robust economy through the year, Nabi thinks earnings growth of 10 percent is more reasonable.
As for the geopolitical situation, Nabi worries not just that investors are still acting as though a war with Iraq will be a short affair, but that they have yet to come to terms with what war and its aftermath would do to the budget.
"If we go to war with Iraq, I don't know how we're going to escape a $400 billion deficit," he said. "That is a number that is going to spook markets."
Still Nabi expects that the market will be able to keep pace with earnings growth, gaining somewhere around 10 percent at the end of another volatile year.
Hard facts on smokestacks
A key report on the manufacturing economy Thursday -- the first trading day of 2003 -- will give Wall Streeters something to do besides mull what the year ahead might bring. Economists think that the Institute for Supply Management's Purchasing Managers' Index for December will show a slight rise, coming in at 50.2 compared with 49.2; the stock market will cheer if it exceeds these expectations, groan if it does not. (For a line-up of key events in the week ahead, click here.)
The Purchasing Managers' Index measures manufacturing activity, but it also gives a good early read on where the overall economy is heading. It plunged in July, for example, a drop that augured the weakness that rolled over the economy this fall. Such fireworks are unlikely this time around, thinks Banc of America Securities chief economist Mickey Levy. Manufacturers are running lean, which should keep them stable absent a sharp drop-off in demand.
But for manufacturing activity to pick up significantly, there needs to be a pick-up in demand, particularly from companies for new capital equipment. That won't come until later in the year.
"We have strong economic fundamentals and stimulative monetary and fiscal policies," said Levy. "But we've had a number of factors [like worries over Iraq] that have been inhibiting faster growth. I think we'll see the economy pick up in 2003 as a lot of the things that have weighed on the economy dissipate."
Key events in the week ahead
Expect to see nothing but continued strength in the housing sector in Monday's report on existing home sales for November. Economists surveyed by Briefing.com expect sales hit an annualized rate of 5.69 million last month, down slightly from October's record 5.77 million. But since new home sales hit a new record in November, economists' forecasts may be too conservative.
The Conference Board releases its report on consumer confidence for December on Tuesday. Given the improvement in the University of Michigan's recent soundings on consumer sentiment, economists expect the Conference Board's confidence index rose to 86 from November's 84.1.
The Chicago-area purchasing managers' index comes out on Tuesday. Although it has a good track record for predicting the national purchasing managers' index, this was not the case in November, when the Chicago PMI rose sharply but the national PMI fell. For December economists expect the Chicago PMI slipped slightly, to 52.8 from 54.3.
Markets are closed Wednesday for New Year's Day. Happy 2003!
December car and truck sales figures get released Thursday. Economists expect that total vehicle sales rose to an annualized 13.1 million, the best level since August. Still, sales aren't responding to the car companies' generous incentive programs like they did early in 2002.
Thursday, the Institute for Supply Management releases the results of its Purchasing Managers' Index for December. The key reading on the health of the manufacturing sector and a leading indicator of the direction of the overall economy, economists expect the PMI rose slightly from November's 49.2 to 50.2. Any number over 50 indicates expansion in the manufacturing economy; below 50 signals contraction.
Friday the Commerce Department releases figures on construction spending in November. Economists expect overall spending rose just 0.1 percent from October -- weakness in commercial construction is offsetting residential construction's strength.
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Ericsson garante contrato de $25M com China Unicom
Ericsson garante contrato de $25M com China Unicom
27-12-2002 20:14
A fabricante de telemóveis sueca Ericsson recebeu um contrato adicional avaliado em 25 milhões de dólares para fornecer equipamentos e serviços à China Unicom.
27-12-2002 20:14
A fabricante de telemóveis sueca Ericsson recebeu um contrato adicional avaliado em 25 milhões de dólares para fornecer equipamentos e serviços à China Unicom.
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Europa pressionada por tensões geopolíticas
Europa pressionada por tensões geopolíticas
27-12-2002 18:52
Os mercados europeus encerraram a sessão em forte queda, pressionados pelo sector segurador. As tensões globais e as preocupações quanto à recuperação económica mantêm os mercados pressionados.
Algumas empresas estão a ser prejudicadas pela subida do euro face ao dólar. Também o facto do preço do petróleo ter atingido o máximo dos últimos 15 anos dificulta a recuperação económica.
A farmacêutica Astrazeneca apresentou-se entre as maiores quedas, prejudicada pelas preocupações face ao seu medicamento de tratamento ao cancro Iressa, o qual poderá ter provocado algumas mortes no Japão. A empresa recuou 4,6 por cento.
O sector segurador foi o mais prejudicado, com a Allianz, Axa e Zurich Finantial a perderem mais de 6 por cento, com preocupações de que a difícil recuperação dos mercados deverá prejudicar os seus rácios de solvabilidade.
No sector tecnológico, a Nokia recuou 5,66 por cento e a Ericsson perdeu 8,9 por cento. Nas telecomunicações, a France Telecom anunciou que vai vender a Casema a um grupo de empresas individuais por 665 milhões de euros, abaixo dos 750 milhões que tinha acordado com a Liberty Media em Novembro.
A Fiat perdeu 4,81 por cento, depois da Moody’s ter reduzido a notação do seu crédito para “junk”.
As quedas deverão ainda ter sido inflacionadas pela fraca liquidez, com muitos investidores a alargarem as suas férias de Natal.
O alemão DAX recuou 5,36 por cento, o britânico Footsie perdeu 2,86 por cento, o francês CAC recuou 2,25 por cento, o italiano MIB deslizou 2,29 por cento e o espanhol IBEX desceu 2,55 por cento
27-12-2002 18:52
Os mercados europeus encerraram a sessão em forte queda, pressionados pelo sector segurador. As tensões globais e as preocupações quanto à recuperação económica mantêm os mercados pressionados.
Algumas empresas estão a ser prejudicadas pela subida do euro face ao dólar. Também o facto do preço do petróleo ter atingido o máximo dos últimos 15 anos dificulta a recuperação económica.
A farmacêutica Astrazeneca apresentou-se entre as maiores quedas, prejudicada pelas preocupações face ao seu medicamento de tratamento ao cancro Iressa, o qual poderá ter provocado algumas mortes no Japão. A empresa recuou 4,6 por cento.
O sector segurador foi o mais prejudicado, com a Allianz, Axa e Zurich Finantial a perderem mais de 6 por cento, com preocupações de que a difícil recuperação dos mercados deverá prejudicar os seus rácios de solvabilidade.
No sector tecnológico, a Nokia recuou 5,66 por cento e a Ericsson perdeu 8,9 por cento. Nas telecomunicações, a France Telecom anunciou que vai vender a Casema a um grupo de empresas individuais por 665 milhões de euros, abaixo dos 750 milhões que tinha acordado com a Liberty Media em Novembro.
A Fiat perdeu 4,81 por cento, depois da Moody’s ter reduzido a notação do seu crédito para “junk”.
As quedas deverão ainda ter sido inflacionadas pela fraca liquidez, com muitos investidores a alargarem as suas férias de Natal.
O alemão DAX recuou 5,36 por cento, o britânico Footsie perdeu 2,86 por cento, o francês CAC recuou 2,25 por cento, o italiano MIB deslizou 2,29 por cento e o espanhol IBEX desceu 2,55 por cento
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Índices norte-americanos caem com preocupações de subida do
Índices norte-americanos caem com preocupações de subida do preço do petróleo (act)
O índice Nasdaq encerrou a perder 1,42%, enquanto o Dow Jones desvalorizou 1,53%, com as preocupações de subida dos preços do petróleo que penaliza empresas e consumidores.
No final da sessão, o Nasdaq fechou nos 1.348,46 pontos e o Dow Jones [INDU] ao cair mais de 1,5% fixou-se nos 8.303,78 pontos.
A negociação bolsista de hoje ficou marcada com os receios de um ataque armado pelos Estados Unidos ao Iraque e Norte da Coreia que pressionaria os preços de petróleo.
Os índices Dow Jones e o Standard&Poors (S&P) chegaram a atingir quedas recorde aos níveis do ano de 1931, alcançando o terceiro ano de perdas em seis décadas. A queda da S&P foi, sobretudo, afectada pela desvalorização dos títulos financeiros, em particular, o Citigroup e a Morgan Stanley.
O Citigroup anunciou que as provisões para cobrir perdas dos empréstimos vão totalizar os 1,5 mil milhões de euros. No final da sessão, estas acções desceram 2,5, enquanto a JP Morgan desvalorizou 2,25%.
A trajectória descendente das acções da General Electric, empresa cuja indústria depende do petróleo, foram responsáveis pela queda dos índices norte-americanos. A GE perdeu 2,33%.
A Wal-Mart que afirmou a ocorrência de vendas abaixo do esperado fechou a perder 1,02%, dias antes do final de 2002.
No índice Nasdaq também os títulos encerraram em queda, contagiados pelas dúvidas dos investidores, com a Intel a escorregar 1,74%, a Yahoo! a depreciar 2,18% e a Lucent a atingir perdas acima de 4%.
Os American Depositary Receipts (ADRs) da Electricidade de Portugal (EDP) [EDP] encerraram nos 16,55 dólares (15,86 euros) a cair 0,54%, enquanto os títulos da PT [PTC] em Nova Iorque ganharam 0,96% para os 6,31 dólares (6,05 euros). Cada ADR da eléctrica nacional corresponde a 10 acções.
Fonte: Canal de Negócios 2002/12/27 21:34:35h
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O índice Nasdaq encerrou a perder 1,42%, enquanto o Dow Jones desvalorizou 1,53%, com as preocupações de subida dos preços do petróleo que penaliza empresas e consumidores.
No final da sessão, o Nasdaq fechou nos 1.348,46 pontos e o Dow Jones [INDU] ao cair mais de 1,5% fixou-se nos 8.303,78 pontos.
A negociação bolsista de hoje ficou marcada com os receios de um ataque armado pelos Estados Unidos ao Iraque e Norte da Coreia que pressionaria os preços de petróleo.
Os índices Dow Jones e o Standard&Poors (S&P) chegaram a atingir quedas recorde aos níveis do ano de 1931, alcançando o terceiro ano de perdas em seis décadas. A queda da S&P foi, sobretudo, afectada pela desvalorização dos títulos financeiros, em particular, o Citigroup e a Morgan Stanley.
O Citigroup anunciou que as provisões para cobrir perdas dos empréstimos vão totalizar os 1,5 mil milhões de euros. No final da sessão, estas acções desceram 2,5, enquanto a JP Morgan desvalorizou 2,25%.
A trajectória descendente das acções da General Electric, empresa cuja indústria depende do petróleo, foram responsáveis pela queda dos índices norte-americanos. A GE perdeu 2,33%.
A Wal-Mart que afirmou a ocorrência de vendas abaixo do esperado fechou a perder 1,02%, dias antes do final de 2002.
No índice Nasdaq também os títulos encerraram em queda, contagiados pelas dúvidas dos investidores, com a Intel a escorregar 1,74%, a Yahoo! a depreciar 2,18% e a Lucent a atingir perdas acima de 4%.
Os American Depositary Receipts (ADRs) da Electricidade de Portugal (EDP) [EDP] encerraram nos 16,55 dólares (15,86 euros) a cair 0,54%, enquanto os títulos da PT [PTC] em Nova Iorque ganharam 0,96% para os 6,31 dólares (6,05 euros). Cada ADR da eléctrica nacional corresponde a 10 acções.
Fonte: Canal de Negócios 2002/12/27 21:34:35h
voltar
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Telesp Celular restante capital da Global Telecom por 78 mil
Telesp Celular restante capital da Global Telecom por 78 milhões de euros
A Telesp Celular Participações (TCP), do grupo Portugal Telecom (PT) adquiriu os restantes 17% que ainda não detinha na operadora Global Telecom por um valor de 82 milhões de dólares (78,57 milhões de euros), anuncia a empresa em comunicado.
A TCP já possuía 83% do capital da operadora móvel brasileira que marca presença nos Estados de Santa Catarina e Paraná. Esta participação era representada por 49% das acções ordinárias e 100% das acções preferenciais sem voto.
Desde 13 de Janeiro de 2001 que a operadora liderada pela PT [PTC] tinha a opção de compra da totalidade do capital da Global Telecom. A operação hoje anunciada representa a compra de 51% das acções ordinárias da Global Telecom com a respectiva autorização da Agência Nacional de Telecomunicações (Anatel), autoridade reguladora das telecomunicações no Brasil.
«O montante envolvido na aquisição dos restantes 17% da GT ascendeu a cerca de 82 milhões de dólares», refere a PT em comunicado, sem avançar o modelo de financiamento da transacção.
Este será mais um activo para entrar na nova empresa constituída em conjunto com a parceira Telefónica para a telefonia móvel brasileira.
As acções da PT encerraram nos 6,29 euros, a subir 0,96%.
Fonte: Canal de Negócios 2002/12/27 21:15:48h
A Telesp Celular Participações (TCP), do grupo Portugal Telecom (PT) adquiriu os restantes 17% que ainda não detinha na operadora Global Telecom por um valor de 82 milhões de dólares (78,57 milhões de euros), anuncia a empresa em comunicado.
A TCP já possuía 83% do capital da operadora móvel brasileira que marca presença nos Estados de Santa Catarina e Paraná. Esta participação era representada por 49% das acções ordinárias e 100% das acções preferenciais sem voto.
Desde 13 de Janeiro de 2001 que a operadora liderada pela PT [PTC] tinha a opção de compra da totalidade do capital da Global Telecom. A operação hoje anunciada representa a compra de 51% das acções ordinárias da Global Telecom com a respectiva autorização da Agência Nacional de Telecomunicações (Anatel), autoridade reguladora das telecomunicações no Brasil.
«O montante envolvido na aquisição dos restantes 17% da GT ascendeu a cerca de 82 milhões de dólares», refere a PT em comunicado, sem avançar o modelo de financiamento da transacção.
Este será mais um activo para entrar na nova empresa constituída em conjunto com a parceira Telefónica para a telefonia móvel brasileira.
As acções da PT encerraram nos 6,29 euros, a subir 0,96%.
Fonte: Canal de Negócios 2002/12/27 21:15:48h
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