Kardashian Family lands Another $40 Million Deal In Their Laps
The Kardashian family gravy train is moving full steam ahead -- with no sign of stopping -- TMZ has learned, Kim and co. will sign on for yet ANOTHER multi-season deal with E! worth more than what they're making on the current one ... and they'll do it without Bruce Jenner.
TMZ broke the story ... "Keeping Up with the Kardashians" was renewed for an additional 3 seasons back in 2012 for more than $40 million -- what was then the richest reality TV deal ever.
But now the Kardashians have outdone themselves -- sources connected to production tell us, the new deal will be worth more than the last.
"Keeping Up with the Kardashians" is currently shooting Season 10 and the new deal will take the show into Season 11 and beyond. As one production source put it, "It is a HUGE show."
As for Bruce Jenner, he won't be coming along for the ride -- as we reported, Bruce has decided to call it quits after Season 10 to spend more time doing the other things he loves. Production sources acknowledge Bruce was "fatigued" and hated the criticism that went along with show.
He'll be missed -- but sources tell us, producers aren't concerned about his departure ... he was not a major character.
Our sources will not say if the deal has been signed or if it's still being negotiated ... but it's definitely far enough along that everyone knows the show will be back.
Kartel claims he knew nothing about 'Lizard's murder
Deejay Vybz Kartel yesterday spoke in court and in an unsworn statement claimed that he knew nothing about the murder for which he is on trial.
Kartel, whose real name is Adidja Palmer, said, "My Lord, my hands are clean of Clive Williams blood, if, indeed, Clive Williams is deceased."
He said there was a group of persons conspiring against him and his friends. He referred to National Security Minister Peter Bunting, who he said took his music and image to the United States claiming that "Vybz Kartel's lyrics, my Lord, is glorifying scamming."
The dancehall artiste said that Bunting said that there were four essential elements "mashing up Jamaica and I was one of them, my Lord." Kartel said the statements were prejudicial to his case.
He said he was heavily tattooed and he bleached his skin, but that was merely superficial because that was "part of the persona of Vybz Kartel, not Adidja Palmer."
The deejay and four other men have been on trial in the Home Circuit Court since November last year. The Crown, represented by Senior Deputy Director of Public Prosecution Jeremy Taylor and Crown Counsel Leighton Williams, has led evidence at the trial that Clive 'Lizard' Williams was beaten to death at Kartel's house at 7 Swallowfield Avenue in Havendale, St Andrew, on August 16 2011. It is alleged that Williams was beaten over two missing guns. The body has not been found.
In yesterday's proceedings Kartel's four co-accused - Shane Williams; André St John; entertainer Shawn Campbell, popularly known as Shawn Storm; and Kahira Jones - also said they were all innocent of the charges and had nothing to do with the murder.
Shawn Storm told the court that on August 16 2011, the prosecution's main witness and Clive Williams followed him freely to Havendale. He said Williams got off at the guest house in Havendale and the witness went to the Swallowfield address. He said he left, and when he saw the witness later that night, the witness only told him that the dog had bitten Kartel. He said the witness did not tell him about anyone lying on the ground.
When the trial resumes today, a handwriting expert will be called in relation to a letter which was sent to the Office of the Public Defender. The prosecution's main witness had denied writing a letter outlining that he had given his statement out of fear and that he had seen Lizard alive after the night of the incident.
Source-Jamaica Star
Barbados debt levels will hopefully stabilise by 2016 - IMF
The International Monetary Fund (IMF) says fiscal measures recently introduced by the Barbados government will, if fully implemented, should stablise debt levels by 2016.
“However, downside risks are considerable and failure to implement corrective policies could result in a disorderly adjustment process. Even with full implementation, fiscal financing pressures and external sector sustainability would remain challenging,” the Washington-based financial institution said Wednesday.
It noted that the island’s economic performance has been weak and public debt is high.
“Foreign reserves are under pressure as fiscal and external imbalances widened in 2012 and further in 2013. Recognizing the need for urgent action, the authorities announced ambitious budget consolidation proposals in 2013 aimed at strengthening the fiscal position and arresting the slide in reserves,” the IMF said.
It said that Freundel Stuart administration “stated clearly their desire and intention to preserve the exchange rate peg-a position supported strongly by the private sector and civil society in Barbados”.
The IMF said that as a result of this strategy, the discussions with the IMF delegation focused on the fiscal measures needed to address immediate pressures, making monetary policy consistent with the nominal exchange rate anchor, a medium-term fiscal framework, and reforms to boost competitiveness.
The IMF said “a comprehensive and sustained fiscal effort” was needed to reduce vulnerabilities and lower public debt.
“There is scope to raise tax revenues by strengthening revenue and customs administration and by reducing widespread exemptions. However, spending reductions will be critical, especially targeting the wage bill and inefficiencies in public enterprises where stronger governance is needed.”
The Washington-based lending agency said that the social safety net must be preserved, but benefits should be better targeted to strengthen protection for the most vulnerable, raise efficiency and lower costs.
“A medium-term fiscal anchor is needed to guide policy formulation and accountability. A debt-to-GDP target of 85 percent is recommended by 2018/19. Monetary policy should be more consistent with the fixed exchange rate regime,” the IMF said, adding that closer monitoring of the financial system is required in view of elevated non- performing loans (NPLs) and the risk of a deeper sovereign-financial feedback loop
It said that the growth strategy should focus on reducing business and labour costs.
The Stuart government has adopted a strategy of laying off at least 3,000 public servants this year as it seeks to reverse the ailing economy. In addition, the government has said it would reduce expenditure in other areas.
Meanwhile, the Barbados Central Bank said that the recommendations outlined by the IMF were in keeping with the policies of the Barbados government.
The Central Bank said revenue administration was being strengthened with the establishment of the Barbados Revenue Authority and that non-statutory revenue exemptions which do not support foreign exchange earning sectors or support the society's most vulnerable were being reduced.
It said the public sector wage bill is being reduced as a result of the layoffs and a programme of attrition and that a medium-term strategy for the further reduction in the fiscal deficit remains in place;
“The Central Bank of Barbados' lending to Government will be reduced as the lower deficit is funded from domestic liquidity,” the bank said, adding that monitoring of the financial system was being intensified in line with the recommendations of the Financial Sector Stability Assessment (FSSA)
Source-CMC
India telecoms auction raises $10bn from mobile firms
India's mobile phone firms have bid almost $10bn (£6bn) in a key auction for the country's second-generation (2G) telecoms licences.
The amount far exceeded the government's target of $1.8bn, and will be used to shrink its budget deficit.
The government will get at least $3bn initially as companies have to pay up to a third of the winning price now, with the rest by 2026.
The winners included Bharti Airtel, Vodafone and Reliance Industries.
The success of this auction is in marked contrast to earlier auctions in November 2012 and March 2013, which both flopped.
Then, most bidders stayed away, complaining that the minimum prices for bids were too high.
Eight companies had applied to bid in the current auction for the 900 MHz and 1800 MHz band airwaves after the government sharply cut the minimum reserve prices.
"The government is happy," Telecoms Minister Kapil Sibal said after the auction ended on Thursday. "We will see a smile on the face of the finance minister."
Finance Minister P. Chidambaram faces a challenge in meeting India's budget deficit target for the current financial year.
This is due to a shortfall in both tax collection and also income from the sale of stakes in government-owned companies.
Bids in the 900 MHz band totalled about 236bn rupees ($3.7bn; £2.2bn) while bids in the 1800 MHz band were about 376bn rupees.
Bharti Airtel and Vodafone bought airwaves in the 900 MHz band, worth about $3bn each, that was available in three key cities - Delhi, Mumbai and Calcutta.
For both firms, the stakes were relatively high, as they already use the 900 MHz band in these cities and would have seen their rights expire in November unless they were successful in this auction.
Other winning companies included Reliance Industries, with operating licences in more than a dozen service areas, Idea Cellular, Telenor and Aircel.
China's consumer inflation holds steady at 2.5%
China's inflation rate remained subdued in January, despite rising food prices during the New Year celebrations.
Consumer prices held steady at 2.5% from a year earlier, which was slightly higher than many economists expected.
The National Bureau of Statistics said there was a 3.7% rise in food prices during the month, which included both the Western and Chinese New Years.
Meanwhile, factory gate prices fell 1.6%, marking the 23rd consecutive monthly decline.
"Inflation is not going to be an issue in China this year," said ING economist Tim Condon.
The latest price figures leaves room for the Chinese government to stimulate the economy if growth drops too low.
Beijing has been looking to wean the world's second-largest off its dependence on exports and become more consumer-oriented.
By keeping price pressures low, the government is able to focus on promised reforms to make the economy more productive and keeping incomes rising.
China's inflation has slowed markedly since 2011, when the annual consumer price index spiked to 5.4%.
Source-BBC
Jamaica Meets Latest IMF Targets
Jamaica met all of its quantitative performance targets and indicative targets for the end of December, according to the International Monetary Fund.
The IMF, which recently concluded a nine-day mission to Jamaica, said it had reached “preliminary understandings” with Jamaican authorities on a set of economic policies detailed in an updated letter of intent.
“Overall policy implementation under the program remains strong,” said Jan Kees Martijn, the fund’s mission chief for Jamaica. “All structural benchmarks to date have also been met. For 2014 and beyond, the critical challenge remains to support economic growth, while continuing to undertake the necessary fiscal adjustment.”
The fund said Jamaica’s economy had grown by about 1.4 percent year-over-year in the last quarter of 2013, while consumer price inflation had moderated to 9.7 percent in December.
It also said execution of Jamaica’s 2013/2014 budget had been “broadly on track, notwithstanding shortfalls in tax revenues owing to weak demand.”
The IMF mission’s visit included discussions with Finance Minister Dr Peter Phillips, Bank of Jamaica Governor Brian Wynter, Financial Secretary Devon Rowe, senior government officials and other members of the private sector and civil society.
The fund said the “preliminary understandings” with Jamaica were still subject to approval by the fund’s executive board.
If Jamaica continues its strong performance, the fund said, board consideration of the third review of Jamaica’s IMF-supported programme could take place next month.
If approved, it would make available around $71 million to Jamaica.
Source-CJ
Tyre maker Bridgestone pleads guilty to price-fixing
Tyre maker Bridgestone has pleaded guilty to price-fixing and agreed to pay a $425m (£255m) fine to the US Department of Justice (DOJ).
According to the charges, Bridgestone participated in raising the prices of anti-vibration rubber parts sold to car manufacturers.
Tokyo-based Bridgestone is the 26th firm to be caught in the DOJ probe into price-fixing in the car parts industry.
The investigation has so far levied more than $2bn in fines.
In a statement, Bridgestone said management "sincerely regret the actions that resulted in this plea agreement and that they did not discover these activities at an earlier date".
It also said it would take disciplinary action against certain employees and that some executives would forego bonuses in March.
In October 2011, Bridgestone pleaded guilty and paid a $28m fine for fixing the price of marine hoses, but the firm did not reveal that it had also been fixing the price of the anti-vibration rubber parts.
"The Antitrust Division will take a hard line when repeat offenders fail to disclose additional anti-competitive behaviour," said Brent Snyder, deputy assistant attorney general, in a statement.
The agreement is subject to court approval.
Bridgestone said as a result of the settlement, it will will record a special loss of 44.79bn yen ($7.4bn; £4.4bn) for the fiscal year ending December 31, 2013.
Source-BBC
Comcast buys rival Time Warner Cable for $45bn
Comcast has confirmed a deal to acquire Time Warner Cable for about $45bn (£27bn), creating a company that could control three-quarters of the US cable industry.
Comcast will pay about $159 per share for its rival in an all-stock deal.
The deal comes after Time Warner Cable rejected a $60bn bid from Charter Communications last month, calling their offer "grossly inadequate".
However, any merger is likely to face tight scrutiny from US regulators.
Time Warner Cable has been the subject of an eight-month takeover battle by smaller cable operator Charter Communications.
Comcast is the biggest cable television provider in the US and owns the NBC broadcast network, as well as the Universal film studio.
"The combination of Time Warner Cable and Comcast creates an exciting opportunity for our company, for our customers, and for our shareholders," said Comcast's chief executive Brian Roberts.
With 22 million of its own pay TV customers and Time Warner Cable's 11 million, the combined entity will end up with about 30 million subscribers when the deal is complete.
Comcast argues that as it and Time Warner Cable serve different markets, their combination will not reduce competition for consumers.
Comcast operates mainly in the northeast, including its home town of Philadelphia and Boston, Washington and Chicago.
Time Warner Cable's subscribers are centred around its New York headquarter, as well as Los Angeles, Dallas and Milwaukee.
In many of those areas, the new Comcast/Time Warner Cable group will face competition from rivals such as AT&T and Verizon.
However, Public Knowledge, a Washington-based consumer rights group, called on regulators to stop the deal.
It said the merger would give Comcast "unprecedented gatekeeper power in several important markets."
"An enlarged Comcast would be the bully in the schoolyard," it added.
The companies hope to make significant cost savings - of up to $1.5bn in annual costs over three years, with half of that coming in the first year.
In a statement admitting defeat, Charter said it had, "always maintained that our greatest opportunity to create value for shareholders is by executing our current business plan."
"We will continue to be disciplined in this and any other activity we pursue."
Source-BBC
U.S., Mexico to play friendly April 2
The U.S. soccer team will host Mexico in an exhibition game April 2 at Glendale, Ariz., as both nations prepare for the World Cup.
The game, announced Thursday, is not on a FIFA fixture date. That means Europe-based players are not likely to be available for the match.
Preparing for their seventh straight World Cup appearance, the Americans opened their 2014 schedule with a 2-0 win over South Korea on Feb. 1. The U.S. is planning home exhibition games for May 27, June 1 and June 7 before leaving for the tournament in Brazil.
At the World Cup, the U.S. has first-round games against Ghana on June 16, Portugal six days later and Germany on June 26. Mexico opens against Cameroon, before playing Brazil and Croatia.
Source-ESPN
Panama to Host Games Between Yankees, Marlins in March
The New York Yankees and the Miami Marlins will play a two-game series of exhibition games in Panama City next month, the clubs announced Thursday.
The two-game series will be the first Major League Baseball games played in Panama since 1947.
The March 15-16 games, which will be played at Panama City’s Rod Carew Stadium, will honour recently-retired Yankees pitcher Mariano Rivera, considered by many to be the greatest relief pitcher in history.
“It is only fitting that one of our game’s greatest ambassadors, Mariano Rivera, could help us bring Major League Baseball back to his beloved Panama,” said Paul Archey, Senior Vice President, International Business Operations for Major League Baseball. “We look forward to partnering with the Marlins and the Yankees to deliver a groundbreaking sporting event to the fans of Panama, particularly the young fans who looked up to Mariano during his historic career.”
The Yankees have some history in Panama; in 1946, members of the team, led by manager Joe McCarthy, trained in Panama in the month of February and played against an all-star team from the Panamanian league.
The next year, the Yankees played the Brooklyn Dodgers in a series of exhibition games. That trip also featured stops in Cuba, Venezuela and Puerto Rico.
Panama, which has four players currently playing in MLB, will be the seventh country to host a game between Major League Baseball teams.
The Rod Carew Stadium opened in 1999.
Both teams will be staying at the Trump Ocean Club International Hotel & Tower in Panama.
“Our hotel will deliver a first-class experience for the New York Yankees and the Miami Marlins during Major League Baseball’s Legend Series,” said Donald J Trump in a statement. “All of Panama stands behind the legendary Mariano Rivera, and we are honored to play a part in a sporting event that the people of Panama will remember forever.”
Source-CJ