BAE shares fall on setbacks over Middle East fighter jet sales
Shares in BAE Systems fell 4.5% after the UK's biggest manufacturer suffered setbacks over fighter jet sales in the Middle East.
News that a deal to sell 60 Eurofighter Typhoon jets to the United Arab Emirates had collapsed were compounded by fears over a deal with Saudi Arabia.
Talks to extend an existing Saudi deal have stalled, according to reports.
As US and European defence budgets are cut, arms firms are looking to the Middle East to maintain order books.
The double blow sent BAE shares down 4.6% in afternoon trading, making it the worst performer in the FTSE 100.
"The UAE have advised that they have elected not to proceed with these proposals at this time," BAE said in a statement.
BAE added that it had not priced the UAE deal into its financial assumptions. "All parties have invested significant effort in drawing up Typhoon proposals for the UAE and, recognising the risk, scale and complexity of such a transaction, the group had not built this prospect into its planning assumptions," the company said.
However, analysts said that there was an expectation that the deal, worth up to £5bn, appeared close to being signed, especially as prime minister David Cameron had visited the UAE during last month's Dubai Air Show.
BAE also said it had yet to reach a "definitive agreement" on a a contract to upgrade an existing contract to sell 72 fighter jets with Saudi Arabia.
Under the 2007 Salaam contract, Saudi agreed to buy 72 Typhoon jets for about £4.5bn, but the two sides have been in protracted talks about upgrading the aircraft and expanding support and maintenance.
BAE's chief executive Ian King said in August that winning the UAE deal could be a "major game changer" for the company and the order, along with the expanded Saudi contract, could help stretch its Typhoon production line by four years to 2022.
The company has said that should the Saudi deal fail to be completed this year, it could hit its earnings per share by 6p-7p for 2013.
"The combined news is certainly negative for BAE," RBC Capital Markets analyst Rob Stallard said. "But Salaam could potentially prove the more worrying piece of news as its continued delay may spook investors into worrying that negotiations are not achieving any real progress."
Source-BBC
Rupert Murdoch's media company NewsCorp has bought Irish "social for $25 million (£15.3m).
Rupert Murdoch's media company NewsCorp has bought Storyful, an Irish "social media news agency".
The Dublin-based firm has been acquired for $25 million (£15.3m).
Storyful specialises in licensing and distributing social media content to major news organisations such as the Wall Street Journal and BBC.
"We believe that journalism in the age of social media needs to be open, innovative and collaborative," Storyful founder Mark Little said.
Mr Little set up the company in 2010. He had previously been a presenter on Irish TV network RTE.
Storyful's business is in verifying online video authenticity, and also licenses usage rights to broadcasters for popular viral video.
The company will remain at its current location in Dublin, and will act as a standalone company.
Robert Thomson, chief executive of News Corp, added: "Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content."
Theatreland shocked by West End 'tragedy
Leading lights of London's Theatreland have been "rocked and shocked" by the ceiling collapse at a West End theatre that left dozens of people injured.
Several heard the news as they left the opening night of Stephen Ward, the new musical from Andrew Lloyd Webber.
Sir Richard Eyre, the show's director and a former director of the National Theatre, said the news was "frightening and shocking and disturbing".
"It's a terrible thing to happen in a theatre," he told the BBC News website.
Musicals star Elaine Paige said the audience at the Aldwych Theatre were "rocked and shocked" to learn what had happened around a mile away.
"It was a tragic and shocking thing to hear," said the actress and broadcaster. "Clearly there's been a tragedy over there tonight."
Her sentiments were echoed by theatre producer Robert Fox, who said it was "a very shocking thing to happen and incredibly sad".
"I just hope no-one has been killed and that people will be okay," he told the BBC.
Fellow producer Bill Kenwright said he was "shocked" by the news, while choreographer and former Strictly Come Dancing judge Arlene Phillips said the news was "shocking and surreal".
In a statement on Friday morning, the Society of London Theatre (Solt) praised the emergency services and theatre staff for their "professional and compassionate" handling of the situation.
"At a meeting today all the major theatre owners have confirmed that their safety inspections and certificates are up to date, and will co-operate fully with the authorities to reassure the public that their theatres are safe. All other London theatres remain open for business today and in the coming weeks," it said.
"The exact cause of the incident is still being investigated and the theatre owners, Nimax, are working closely with the relevant authorities to establish exactly what happened.
"Our theatres entertain over 32,000 people in central London every night and all theatres take the safety of their audience, performers and staff very seriously. Every theatre undergoes rigorous safety checks and inspections by independent experts, and incidents like last night are extremely rare."
The incident took place during a performance of The Curious Incident of the Dog in the Night-Time, an adaptation of the Mark Haddon novel that was originally presented at the National Theatre.
Sir Nicholas Hytner, director of the National, was at the Aldwych to see Stephen Ward and left immediately afterwards, as did Nimax Theatres co-owner Nica Burns.
Performances of The Curious Incident of the Dog in the Night-Time have been cancelled until 4 January.
In a message on Twitter, Haddon said it had been "horrifying" watching the events unfold and that he was "hugely relieved" there had been no fatalities reported.
"I hope that those who were seriously injured are OK," he continued. "I'm sorry, too, that so many people went through such a terrifying experience."
The actor David Suchet also took to Twitter to express his dismay. "What a tragedy," he wrote. "My thoughts are with all those who are hurt and injured."
Eyewitnesses heard a "crackling" noise before the collapse at about 20:15 GMT. Theatre-goers left covered in debris and 51 people were taken to hospital.
First opened in 1901, the Apollo is a Grade II listed building that seats 775 people across four levels.
Source-BBC with additional reporting by BBC entertainment correspondent Tim Masters.
Clint Eastwood Refuses to Pay Spousal Support for Dina
Clint Eastwood's divorce from ex-wife Dina has turned ugly, according to a new court document. He has filed a response to Dina's divorce papers, saying he refused to pay spousal support and asked her to pay for her own legal fees.
Dina filed for divorce in Monterey County Superior Court in Carmel, California back in October. She cited "irreconcilable differences", sought full physical and joint legal custody of their minor daughter, 16-year-old Morgan, and asked for spousal support and attorney fees to be paid by her estranged husband.
Clint is reportedly worth $350 million but he refused to share it with his wife of 17 years. The acting legend revealed in his response that they secretly separated more than a year ago, on June 2, 2012. The date would be crucial in determining the earnings Clint made during that time should they go on a legal war.
In Dina's filing, she stated that they have a prenuptial agreement but the property rights are still "to be determined". Clint's response, which was obtained by Radar Online, indicated that there was indeed a prenuptial agreement.
Clint and Dina got married in 1996 after meeting during a TV interview where she was the host. Clint was previously married to Maggie Johnson and had two children with her. He has four other children from previous relationships.
Source-Ace.Showbiz
Mariah Carey's Christmas track breaks a million sales
Mariah Carey's All I Want For Christmas Is You has sold its millionth copy in the UK, 19 years after it was first released.
According to the Official Charts Company the track crossed the milestone after selling 68,000 copies in 2013.
The American singer said: "Thank you to all of my British fans! Love, Mariah."
The Motown-inspired track peaked at number two when it was first released in 1994 but was kept off the top spot by East 17's Stay Another Day.
It has since re-entered the chart on a further eight occasions.
Co-written and produced by Carey and Walter Afanasieff, the track first appeared on the festive album Merry Christmas and has generated an estimated $50 million (£30.5m) in royalties worldwide since it was released.
It returned to the Official Singles Chart in 2007, since when it has appeared in the top 40 every December.
The song reached number 20 last year and was at number 12 in the most recent chart update.
It only became a top 40 hit in Carey's home country for the first time last year.
All I Want For Christmas Is You is one of only 142 singles in the history of the Official Charts to pass the million copies mark in the UK.
In 2013, tracks including Lady Gaga' Bad Romance, Robin Thicke's Blurred Lines, Daft Punk's Get Lucky and Passenger's Let her Go have also passed the million sales mark.
Other seasonal singles to have reached the landmark include Bing Crosby's White Christmas, Slade's Merry Christmas Everybody and Band Aid's Do They Know It's Christmas?
Carey is working on a new solo album, due for release in early 2014.
Selena Gomez cancels shows to have 'time to herself'
Selena Gomez has cancelled her upcoming Australian concert tour, saying she needs some time to herself.
The 21-year-old singer was due to perform five concerts, beginning on 1 February.
"My fans are so important to me and I would never want to disappoint them," said the singer.
"But it has become clear to me and those close to me that after many years of putting my work first, I need to spend some time on myself."
She added that she wanted to be "the best person" she could be.
The shows were set to start in Perth and finish in Melbourne on 8 February.
Texas-born Gomez is set to tour Asia in January.
The singer starred in Spring Breakers in 2012 and had a top 10 single with Come and Get It in July.
She dated Justin Bieber for around two years and also appeared in The Muppets film in 2011.
Earlier this week a waxwork of the singer was unveiled at Madame Tussauds museum in Hollywood.
In 2011 Selena Gomez hosted the MTV Video Music Awards.
Source-BBC
Jamaica Jazz and Blues Fest signs big acts
Grammy winners Toni Braxton and Chrisette Michele, as well as chart-topping crooner Aaron Neville are the first big names signed for the 18th staging of the Jamaica Jazz and Blues Festival scheduled for January 30 - February 1, 2014, the Jamaica Observer has learnt.
The popular festival, which will be held at Trelawny Multi-purpose Stadium on Jamaica's north coast, is expected to sign other major acts who will be announced in the coming weeks.
Braxton captured six Grammy Awards with hits such as Un-break My Heart, Spanish Guitar, and Breathe Again and captured a prominent spot in the hearts of Jamaicans with her smooth vocals.
Chrisette Michele, whose hits include Epiphany and A Couple Of Forevers, won a Grammy for Best Urban/Alternative Performance in 2009 for her song Be OK.
Neville's mega hit Don't Know Much ignited Jamaica in 1989.
He has had four top-20 hits in the United States, including three that went to number one on Billboard's adult contemporary chart and one that hit number one on the R&B chart.
He has four platinum-certified albums and, in addition to his solo career, has recorded with his brothers Cyril, Art, and Charles as The Neville Brothers.
Described as Jamaica's most diverse three-day music festival, the event is shaping up to be another outstanding staging with patrons locally and from overseas already making advanced ticket purchases.
The Jamaica Jazz and Blues Festival is also renowned as a launching pad for some of the nation's outstanding talents, including Tessanne Chin, Roots Underground, and Romain Virgo.
Source-JA.Observer
Guyana trade union plans daily protest over 5% wage hike
The Guyana Public Service Union (GPSU) says it intends to stage daily street protests from Friday after criticising the government for imposing a five per cent wage hike on the salaries of public servants.
The GPSU said that it was seeking permission from the police to stage the protest until the end of the year.
In a statement, the union said it would “commence peaceful protests/marches throughout Georgetown from Friday December 20 …to Tuesday December 31, 2013 and hereby, seeks the concurrence and cooperation of the Guyana Police Department.”
The GPSU, which is seeking increases ranging from 15 to 25 per cent, has been calling on the Donald Ramotar government to change its position on the annual y imposition of salary increases to state workers.
The government has said it is unable to pay a higher salary increase citing the move by the opposition parties in the National Assembly to slash the national budget.
Source-CMC
US gives Trinidad equipment to help detect financial crimes
The United States has donated specialised equipment to the Trinidad and Tobago government that will improve efforts to detect, deter, and prosecute financial crimes in the country.
The agreement to launch the Financial Crimes Advisor programme, which was signed by National Security Minister Gary Griffith and Chargé d’Affairs of the US Embassy, Margaret Diop, also allows for the provision of expertise by Washington.
“The US-TT Financial Crimes Advisor program enables an experienced financial crimes investigator from the U.S. Department of the Treasury’s Office of Technical Assistance to mentor the Police Service’s Financial Investigations Branch (FIB), Financial Intelligence Unit (FIU), and TT’s Public Prosecutors in their preparation of financial crime cases for prosecution,” according to a statement issued by the US Embassy.
It said in support of the programme, Washington donated the “investigative equipment” to the FIB and FIU.
“The equipment includes several Multi-Currency Discriminators which can detect counterfeit currency, optical character recognition software to read scanned documents, cameras for surveillance and evidence collection, and computer equipment.”
Diop said the programme would help combat money laundering and prevent funds from being diverted to terrorist organizations, while Griffith said money laundering investigations were a powerful tool to crack down on criminal gangs by going after their ill-gotten gains.
The US Embassy said that the financial crimes assistance programme is an example of the many initiatives funded under the Caribbean Basin Security Initiative launched by U.S. President Barack Obama, during his visit to Trinidad and Tobago in 2009.
It said during the first four years of the initiative, Washington has provided more than US$263 million in funding to the region, providing support to Trinidad and Tobago and its Caribbean neighbours in an effort to advance public safety and security, reduce illicit trafficking, and promote social justice.
Source-CMC
Bahamas and China sign visa waiver agreement
Bahamas and China have signed a mutual visa exemption agreement that Foreign Affairs and Immigration Minister Fred Mitchell said represents a “milestone” in diplomatic relations between them.
“Through the signing of this agreement, our tourism industry, which is the cornerstone of this nation’s economy, will be strengthened. With this agreement, The Bahamas will join North America, Europe and Australia as one of the top destinations for over 70 million Chinese tourists who frequently travel internationally.
“Additionally, Bahamians who travel frequently to China for business and tourism opportunities will now be more easily facilitated,” Mitchell said.
Mitchell and China’s Vice Foreign Minister, Xie Hangsheng, Thursday signed the agreement that allows Bahamian and Chinese nationals to travel unrestricted without a visa for up to 30 days.
Mitchell said it was evident that both countries were in an important stage of economic and social development, with Nassau on the brink of an economic leap forward nearing the completion of the Baha Mar project and with China’s phenomenal growth and status as the world’s second strongest economy.
He said the signing of the agreement would indicate that the two countries have “great” bilateral relations and in the future there will be further talks on technical and economic agreements.
“This agreement is not only a great bilateral achievement, but is also a critical step towards the realisation of the government’s policy for visa-free travel for Bahamians,” Mitchell added.
The Chinese Government minister said the agreement was a new step in the bilateral relationship between the countries.
“It will facilitate the people-to-people exchanges between our two countries. More and more Chinese visitors and investors will come to the beautiful Bahamas,” said Xie, who prior to signing the accord held talks with Prime Minister Perry Christie and agreeing on how to further improve their relations.
The Bahamas and China have shared diplomatic relations since May 1997.
Source-CMC