cassidygbgstile-blog

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UPDATE 1-TranS1 gets subpoena from US govt

In a regulatory filing, TranS1 said the HHS is seeking documents from Jan. 1, 2008 through Oct. 6, 2011. However, no claims have been made against the company, TranS1 said.The company said it is cooperating with the request.TranS1 shares, which were halted before the news was announced, closed at $3.12 on Monday on Nasdaq.

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OriginOil to issue licences for algae know-how

"The (algae) industry is still too small, so we will start supplying test systems for them (industries) to explore the best use of algae in their production cycle," Eckelberry told Reuters in an interview.He said he expects the global algae market to increase in size from $271 million in 2010 to $1.6 billion in 2015 as biofuels producers shift from grains to algae. That in turn would reduce pressure on food prices.He also said that the energy-intensive chemical industry will benefit from the use of algae to produce plastics and fertilisers.Carbon and other gases released by chemical plants can be liquefied and transported to big water tubes to grow algae which are then used for production of plastics without releasing CO2. Carbon dioxide accounts for more than two-thirds of green house gas emissions.

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TEXT-S&P afrms rtgs on EEPK's public-sector covered bonds

OVERVIEW-- We have reviewed Erste Europaeische Pfandbrief- und Kommunalkreditbank's public-sector covered bonds.-- We have affirmed our 'AA+' ratings on these public-sector covered bonds following our review.-- The outlook remains stable.Standard & Poor's Ratings Services today affirmed its 'AA+' credit ratings on Erste Europaeische Pfandbrief- und Kommunalkreditbank AG's (EEPK) public-sector covered bonds following a review. The outlook remains stable (see list below).For our rating affirmation on EEPK's public-sector covered bonds, we have reviewed the asset and cash flow information provided as of June 30, 2011.

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TEXT-S&P afrms rtgs on EEPK's public-sector covered bonds

OVERVIEW-- We have reviewed Erste Europaeische Pfandbrief- und Kommunalkreditbank's public-sector covered bonds.-- We have affirmed our 'AA+' ratings on these public-sector covered bonds following our review.-- The outlook remains stable.Standard & Poor's Ratings Services today affirmed its 'AA+' credit ratings on Erste Europaeische Pfandbrief- und Kommunalkreditbank AG's (EEPK) public-sector covered bonds following a review. The outlook remains stable (see list below).For our rating affirmation on EEPK's public-sector covered bonds, we have reviewed the asset and cash flow information provided as of June 30, 2011.

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PCCW telecoms spinoff paves way for Li to pursue media dreams

But whether Li can become Hong Kong's Rupert Murdoch remains unclear given the financial constraints of PCCW, stiff competition in the media industry, and regulations in Hong Kong and China that could tie his hands, industry executives say.Li, the younger son of Hong Kong's best-known tycoon Li Ka-shing, is expected to expand his television business in Hong Kong and China in what's left of PCCW Ltd, which consists of pay-TV operator Now TV, a solutions business and some property assets.He will be keen to delve into media-related business in China and expand the company's Hong Kong footprint after PCCW obtains a free-to-air TV licence, which will help boost its TV advertising revenue, industry executives say."Richard Li has always been more interested in media than the telecoms business," said a banker in Hong Kong on condition of anonymity. "In his mind, it's a valuable business, but whether the public will look at it the same way will depend on how much cash he can generate for the business."Although born with a silver spoon in his mouth, Li wants to be a self-made man rather than rely on daddy's pocket.Li's life has been nothing short of conventional. He worked shifts at McDonalds, according to some media reports, and has fathered three children with his ex-girlfriend, former Hong Kong movie star Isabella Leong.His career has had its share of ups and downs.He first ventured into the media business in the 1990s and made a huge splash in one of his early deals.The crew-cut, bespectacled executive started the satellite network Star TV in the mid-1980s which he sold to media mogul Murdoch for $950 million in 1995, just before turning 30. He used the money to set up a company that eventually became PCCW.In 2000, Li beat Singapore Telecommunications Ltd in a deal to buy Cable & Wireless HKT for more than $30 billion, aiming to create a telecoms powerhouse. However the deal proved too big for Li to swallow with the telecoms unit bleeding money for years.Hence Li's decision to spin off and list the unit in the form of HKT Trust.Last month, PCCW issued a prospectus on the spinoff plan, aiming to raise HK$6.8 billion to HK$10 billion, assuming a minimum market capitalisation of HK$28.6 billion ($3.68 billion). PCCW will retain control of the trust by keeping an interest of 55-70 percent.Analysts say the high valuation and minimum market capitalisation restriction could be a stumbling block in the upcoming initial public offering of units in the trust."I don't think the vote (by shareholders) is a problem," said Macquarie analyst Lisa Soh. "What I think is a problem is the market cap restriction, because the current share price of PCCW alone would indicate that it's not going to happen."PCCW shares ended up nearly 4 percent on Tuesday, taking the company's market value to HK$21 billion, substantially lower than the projected value of its telecoms asset. Daiwa Capital Markets valued the remainder PCCW at about HK$23.5 billion if it offers a 30 percent stake.Under current volatile market conditions, PCCW will likely wait before setting a date for HKT Trust's listing.If PCCW managed to raise more than HK$7.8 billion, it would likely use the proceeds to expand its business, apart from paying off the telecoms unit's mountain of debt, the company said."Li's focus will be on mainland China because he already has invested in PPstream, so I think Li is looking at the Hong Kong and China markets," said Daiwa Capital Markets analyst Alan Kam.In Hong Kong, Li owns the Chinese-language Hong Kong Economic Journal, although he will probably be unable to inject the asset into PCCW due to local media regulations.Therefore TV will be Li's focus.PCCW is among the few TV operators that have already applied for a licence to provide free-to-air television services in Hong Kong, which will challenge the dominance of Television Broadcasts Ltd (TVB) ."Now TV is still very small and the free TV market is about HK$4 billion in terms of advertising revenue, and it's dominated by TVB," said Standard Chartered analyst Steven Liu. "If three more operators get licences, competition will be fierce."There could be more acquisitions in store, although Li will have to make a good sales pitch to convince PCCW shareholders, such as China Unicom (Hong Kong) Ltd . In 2006 China Netcom, now owned by China Unicom, objected to Li's plan to sell PCCW's core assets to U.S. buyout firm TPG and Australia's Macquarie Group Ltd. . ($1 = 7.782 Hong Kong dollars)

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Steve Jobs' agony and ecstasy to hit NY stage

The play is not a straight homage to Jobs, but rather a "hilarious and harrowing tale of pride, beauty, lust, and industrial design," by performer Mike Daisey. It looks at Jobs' technology obsessions while sharing his own stories of touring iPod and iPhone factories in China, the theater company said."This moment is an opportunity to peel back the surface and get at the secret heart of our relationship with Steve Jobs, his devices, our labor, and China itself," said Daisey in a statement."Steve Jobs had an enormous impact on our lives; in many ways, the world he has left to us is his world. This is a perfect moment to contemplate that world, its values and practices, and decide what parts of his legacy we should embrace and what parts we need to reject," Daisey said.

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The dinosaur has arrived — an original story by R.L. Stine

– This original story by R.L. Stine was written for Reuters.com. R.L.’s books are read all over the world. So far, he has sold over 350 million books, making him one of the best-selling children’s authors in history. – Shivering in the hall, I looked forward to the warmth of the radio studio.  I felt the cold as if it was trapped inside my overcoat. The frosted glass of the door looked like snow to me. I pushed it open with one gloved hand. Here I am, everyone. Emerson Grant, the veteran and revered news anchor. Yes, it’s Christmas Eve, and the dinosaur has arrived to give his annual review of the news. As if anyone cared. The news this year was all bad. Banks failing… war everywhere… folks living in their cars. Why would people tune in to hear a summary of all their sadnesses? I gazed around the outer office. Anyone here? The dim ceiling lights made everything gray, as if behind a curtain. No one at the reception desk. No one at the other desks. I know it’s Christmas Eve, people, but I can’t do this alone. I shoved open the studio door and stepped inside. The same gray light, like a faded photograph. No sign of anyone. I glanced at the clock. It had stopped, the second hand stuck on three. I felt a stir of uneasiness. Strange. I stepped over to the console and dropped into the worn chair. I tugged the mike lower and reached for the headphones. I can’t work this board. I need an engineer. Without warning, darkness fell. Ceiling lights went black. The lights on the console vanished. I felt a pang. Just a heartbeat slightly off. I stared into the solid blackness. And heard a soft thump. My neck muscles went rigid. My ears rang. Another thump. From nearby. I wasn’t alone. Who’s there? Who is it? No reply. I know you’re in here. Fear choked my throat. I fumbled for the phone. My hand bumped the receiver. I grabbed it and raised it to my ears. Before I could push 911, I heard voices. Several voices all jabbering at once. Pardon me. What language are you speaking? I have an emergency here. Can anyone hear me? They kept chattering. They didn’t hear. The lights flickered back. So dim, the studio seemed to be made of billowing shadow. At least now I could escape from the intruder. I jumped to my feet, stumbled to the outer office and rushed to the exit door. I tugged the brass handle. Frantically tried again. Then I tried pushing it. Locked in. Trapped. I took a deep breath and held it. I’m not allowed to get excited, ever since the heart attack a few years ago. But I couldn’t hold my fear down. I was locked in, with the lights flickering and an intruder in the studio. I spun around-and there he stood. A boy. Curly brown hair and a stub of a nose. A red-and-blue striped sweatshirt and baggy brown pants. “Get out,” I snarled. “You don’t belong here. Did you come here to rob me?” He shook his head. Lowered his gaze, and the curly hair fell over his eyes. “I just want to watch you,” he said. “I want to be a great newsman, too. I dream about it.” “Go away,” I told him. “Change your dreams.” “I want to be on the radio,” he said. “Like you.” He tugged my sleeve. I brushed him away. “Go home and play video games. You’ll be better off.” He squinted at me. “Video games? What are they?” “Are you trying to trick an old man?” I shouted. “What’s your name?” He didn’t answer. Something in his face broke through my bitterness. The eagerness. A certain light. His face… MY face! I recognized the boy. To my shock, I knew I was staring at myself. Suddenly, I remembered a cold, snowy Christmas Eve… a bitter, old news reader in a tiny studio. I sneaked in to visit him. I was so eager. I still had the light in my eyes. All those years ago, did I visit myself? Or did I dream it? Gazing at myself, I couldn’t move. Couldn’t breathe. Couldn’t even blink my eyes. He grabbed my arm. “It’s time for you to do your show,” he said. He pulled me into the studio. I stopped in front of a silvery wall plaque. New to me. I drew close to read the etched words: THE EMERSON GRANT STUDIO In Memory Of Emerson Grant 1936-2010. The cold horror of the words-of course I knew what they meant. I felt like a ghost, already sinking… sinking into the cold shadows. But the boy watched me so eagerly. I couldn’t let him down. I sat down at the console and pulled the headphones over my ears. I leaned toward the mike and flipped the switch. And I began to read the news. R.L. Stine’s ‘The Haunting Hour’ premieres on the new television network The Hub on December 25 at 8:00 pm. R.L. Stine’s first Christmas special is followed by “The Dead Body” at 8:30 pm and the series airs new episodes every Saturday night at 8:30 pm after an encore of the previous week’s episode at 8:00 pm on The Hub.