Beth Caldwell: Nearly 10,000 Children Tell Congress: 'No More Deportations'

Hispanic Heritage iPhone app iPad app Android phone app Android tablet app More Log in Create Account Notifications Profile Settings Logout #topnav_margin_btm

View the Original article

1,000 Housing Units for Maysan

province, Ali Dawai Lazim, has met the Planning Minister Ali Shukri (pictured) to discuss developments in the region.

During the meeting, the Minister approved the allocation of funds to build 1,000 residential units in Maysan.

(Source: AIN)

.report

View the Original article

Suri Cruise's $24,000 Playhouse? Katie Holmes Reportedly Buys 6-Year-Old Daughter Very Fancy Christmas Present (PHOTOS)

Get HuffPost Home Alerts:Sign Up React:Amazing
Inspiring
Funny
Scary
Hot
Crazy
Important
Weird
Follow:  Katie Holmes,  Suri Cruise,  Video, Grand Victorian Luxury Playhouse, Katie Holmes Suri Cruise, Playhouses, Suri Cruise $24000 Playhouse, Suri Cruise $24k Playhouse, Suri Cruise Christmas Presents, Suri Cruise Playhouse, Sweet Retreat Kids,HuffPost Home News #news_entries #ad_sharebox_260x60 img

View the Original article

Kobe Bryant: Lakers star reaches milestone with 30,000 points Jumper against Hornets (VIDEO)

Sports Alerts: sign up get react: inspirational
Funny
Typical
Eng
Scandalous
Amazing
Infuriating
Extreme
Track: LA Lakers, LA Lakers, NBA, Video, 000 Point Club, 000 points, 30, 30000 Point Club, Kobe Bryant LA Lakers, 30000 points Kobe, Kobe Bryant 30, most Nba career points, highlights, sport news # news_entries # ad_sharebox_260x60 img

View the Original article

Citigroup's new chief launches first salvo: cuts 11,000 jobs

Reuters

The job cuts are part of a restructuring that will reduce annual revenues by "less than 300 million dollars," the bank said.

The bank has been in a long slog to recover from the losses of the financial crisis, which asked multiple government bailouts. While hundreds of billions of dollars of troubled assets, analysts already impatient with her objects has long refusal to scale back costs enough to reduced demand for its services.

Analysts have been expecting dramatic steps since Corbat was brought in as CEO of Citigroup President Michael O'Neill. O'Neill is known in the banking sector for the reduction of the companies to eliminate companies that do not yield satisfactory deserve.

"Corbat has a limited window of opportunity here in which he his new CEO can make movements," said Nancy Bush, a bank analyst and a long time editor at SNL Financial. Having regard to the mandate that he has to act, she said, "you might as well get the shocking figures out first."

Still, Bush expects corbat will continue restructuring and cutting jobs for two years. "I look at this as the first cut," she said. "Corbat forever digging and looking for places to cut, and inevitably staff the bulk of that will be."

The job cuts announcement came a few hours before Citigroup Chief Financial Officer John Gerspach was scheduled to speak at noon at a major Conference of institutional investors in New York.

CONSUMER BANKING CUTS

Approximately 35 percent of the fourth quarter restructuring charges will be held in the global consumer banking unit, where 6,200 jobs will be cut, the bank said. About 40 percent of the layoffs will be in technology and operations areas.

The bank expects to sell or scale back consumer operations in Pakistan, Paraguay, Romania and Uruguay. If it stays focus on 150 high growth markets, they intend to throw 84 locations in five countries, is more than half of them in the United States.

After the restructuring, the bank will have 4,000 offices all over the world.

Bush said that the bank had a "stupid strategy" in the middle of the years 2000, then it was adding branches in areas such as Boston and the suburbs of New York. "They now need to go back and think about their entire domestic branch strategy, and international too," she said.

When Citigroup CEO's changed in October, said O'Neill would remain of the bank strategy executives of peel back to core activities operate more efficiently. The strategy has included emphasis on business in rapidly growing urban areas.

Of the announced restructuring costs, will be about 25 percent are held in the bank investment and corporate banking businesses, and 10 percent in transaction services. About 1,900 jobs should be cut from those areas, with more than half from operations and technology features that support for the companies.

A goal of the cuts would eliminate redundant coverage of relationships with business customers, long a source of inefficiency at Citigroup, where sometimes treat relationships with companies and multiple bankers pitch them loans, great advice, securities underwriting and other services.

The movements will "streamline our client coverage model," the bank said.

Another 25 percent of the costs are for the revision of business and various other functions. About 2,600 jobs are in corporate support services, global functions, real estate and the Citi Holdings portfolio of troubled assets the company shedding is eliminated.

The announcement did not say how or whether he wants to organise its executive team Corbat the position of chief operating officer, which was left open as John Harbors left with Pandit will fill.

Even before the move Citigroup had large banks some 160,000 jobs loss since early last year, according to a Reuters analysis announced in November. Among the largest: Bank of America in September 2011 announced 30,000 layoffs as part of a plan to annual costs by $ 8 billion. This bank is also close or sell 750 branches.

In October unveiled Swiss bank UBS plans to fire 10,000 staff and fixed-income business relax.

Citigroup announce job cuts and reduction of costs for years. In April 2007 the announced 17,000 job cuts, intended to help save $ 4.6 billion of annual expenditure in 2009.

In November 2008, as the financial crisis was in full flush, Pandit announced plans more than 50,000 jobs. Pandit said the bank was In December 2011 cut 4,500 positions, and said he aimed to cut costs by 3 to 5 percent per year.

Reuters

. pagination_article

View the Original article

Egypt protests: at least 100,000 Egyptians demonstrate outside the Presidential Palace In Cairo

An Egyptian protestor holds placard in Arabic that: "Yes for the rights of the martyrs," during a demonstration for the Presidential Palace in Cairo, Egypt, Tuesday 4 december 2012 reads. (AP Photo/Nasser Nasser) Get world alerts: Sign Up follow: Tahrir Square, Cairo, Egypt, Hosni Mubarak, Muslim Brotherhood, Video, Alexandria Egypt, Heliopolis, Mohammed Morsi, Muhammed-Morsi, World News # news_entries # ad_sharebox_260x60 img

View the Original article

39,000 Housing Loans Approved

Iraq to Grant $5m for Yemen’s Development Baghdad Retains Quality of Living Ranking … Russian Investor Increases Stake in Gulfsands US Launches New Support for Civil Society Program in Iraq Categorized

View the Original article

How is Rs 24,000 cr Sahara dues Rs 5,120 cr?

Subrata Roy. AFP

In an order dated 31 August the Court had the two companies of the Sahara on investor funds within three months, with 15 percent interest, return Sebi ordered. That deadline expires tomorrow, 30 November. The money is to be issued after verification of the documents of application.

Sahara had SAT approached looking for a order that Sebi would accept both force are loads of documents and the final payment of Rs 5,120 crore. SAT decreased to issue any order says that it was premature.

There are messages in the press, particularly Business Standard, which indicates that the Sahara pressure pressure OFCD investors to invest in other group arrangements was, including by before the letter from the permission of investors to dates prior to the judgment.

It is not known whether Sebi Sahara the truncated cheque will accept, because documents to the Supreme Court talked about more than three crore investors and outstanding amounts of Rs 24,000 crore.

The big question is: how Rs 24,000 crore Rs only 5,120 crore in a matter of months has become?

We have not heard the last on this issue. More Court battles are in the offing.

Securities appellate tribunal order

. pagination_article

View the Original article

Iraq Buys 350,000 Tons of Wheat

Ukrainian Foreign Minister Visits Kurdistan Region Serbia Eyes Investments in Wassit Sandstorms, Corruption Make Ninawa Farmers Abandon Land And Home Categorized

View the Original article

Ahdab Oilfield Hits 140,000 Barrels Per Day

By John Lee.

Aswat al-Iraq reports that crude oil production at the al-Ahdab oil field has reached 140,000 barrels per day.

According to an official statement from Wassit province, the field has 170 operational wells.

The field, in central Iraq, is being developed by Chinese firm CNPC.

(Source: Aswat al-Iraq)

.report

View the Original article

Majnoon to Exceed 200,000 bpd Next Year

By John Lee.

Shell‘s Majnoon oilfield in Southern Iraq is expected to exceed 200,000 bpd in the third quarter of 2013, above the level of 170,000 bpd needed to start recovering costs, according to Reuters.

Majnoon started a shutdown in June for maintenance and to bring new production facilities online.

Under the Majnoon development plan for 2013, Shell has submitted a budget of $1.384 billion as a “total recoverable cost” for field development.

Operations at the field are expected to resume in the first quarter of 2013 with output of 44,600 bpd, followed by 50,200 bpd in the second quarter, 201,700 bpd in the third, and 202,700 bpd inQ4.

The service contract at the field requires Shell to boost output to 1.8 million bpd for a fee of $1.39 a barrel, though it started talks with Baghdad this year to reduce the target to 1 million bpd.

“The scope of work for First Commercial Production involves following key elements: production optimisation from the existing well stock, drilling of 18 new wells and de-bottlenecking and upgrading of existing facilities,” the Majnoon development programme showed.

Production at the field was around 45,000 bpd when Shell took over in 2010. Shell has since spent around $1 billion, and planned to invest another $1 billion in 2012.

Shell’s other partners in the Majnoon venture are Petronas (30% share) and the Missan Oil Company, representing the Iraqi State (25% share).

(Source: Reuters)

.report

View the Original article

Iraq to buy 50,000 Dell PCs for Schools

Chinese Company to Supply Iraqi Railways Kurdish-Arab Feud: Russians and Exxon Making Things Worse Al-Araji: Iraq Needs $1 Trillion to Rebuild Iraq Pressures Gazprom to Quit Kurdistan Categorized

View the Original article