| Putin calls for upping private invest, competition in railway industry
NOVO-OGARYOVO, Moscow Region, April 10 (Prime-Tass) -- Russian President Vladimir Putin called Tuesday for attracting private investment and encouraging competition in the railway industry, ITAR-TASS reported. "Private capital should be attracted (to the railway industry) and public-private partnership projects should be stepped up," Putin said at a meeting of officials on the railway industry. "It's also necessary to increase Russian Railways' capitalization, increasing its market opportunities, including through the creation of subsidiaries and their public share offerings." Russian Railways President Vladimir Yakunin said Russian Railways had decided to set up a smaller cargo transportation subsdiary before creating a second one in order to encourage competition in the industry.
FX Solutions Announces Investment By Francisco Partners
FX Solutions, a leader in the rapidly growing retail foreign exchange market, announced today that Francisco Partners, one of the world's largest technology-focused private equity investment firms, has invested in excess of $100 million to recapitalize the company. FX Solutions, which has clients in over 140 countries, provides customers with a low-friction foreign exchange trading platform through the utilization of sophisticated pricing and execution algorithms. The company has designed and implemented a proprietary technology which provides significant operational scalability in a market that is increasingly being recognized as a global asset class for retail online traders. Francisco Partners' investment in FX Solutions validates the company's business model and strategy, and underscores the confidence in FX Solutions' senior management team.
THE ONLINE USE OF TRADEMARKS AND THEIR POTENTIAL IMPACT ON DILUTION
Trademarks and their potential for dilution have appeared as issues that must be addressed in the arena of the Internet. A federal judge in Los Angeles ruled that Uzi Nissan's use of his Internet sites was diluting the value of the Nissan's company's trademark. U.S. District Judge Dean D. Pregerson must determine whether Internet addresses will be returned to the the automaker or stay with the man who has used his family name on a succession of businesses from mobile auto repair to exporting to computers.
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Fantasy Sports Leagues Hire Lawyers to End E-Mail Donnybrooks
March 14 (Bloomberg) -- Attorney Bill Green has spent two decades defending accused killers and cutting software licensing deals. Now, he also arbitrates clashing sports fantasies. For $10, Green stepped into a dispute last year over whether pitcher Eric Gagne, a Cy Young award winner now with the Texas Rangers, could be traded for New York Mets pitcher Oliver Perez, who has a losing record. It wasn't a real-world trade but one in the pretend arena of fantasy baseball. Some 16 million U.S. adults participate in fantasy sports leagues, according to the Fantasy Sports Trade Association of Kenosha, Wisconsin. ``Owners'' stock their ``teams'' with actual players from professional rosters and win or lose based on those players' on-field statistics. Even in make-believe leagues, though, real donnybrooks arise.
Brown turning Britain into an also-ran
Gordon Brown has wrecked Britain's chances of becoming a serious player in the online gambling market, industry executives warned last night. They claim the Chancellor's shock announcement of a 15 per cent gaming duty for betting websites in his Budget last week will prevent companies from moving their operations to Britain from low-tax or tax-free countries such as Gibraltar, Malta or the Channel Islands. Executives from Ladbrokes, Partygaming and others had previously made clear to Government that a tax of between 2 per cent and 3 per cent would be acceptable - and could attract them back to the UK. Ladbrokes said: "We self-regulate and are regulated and licensed in Gibraltar. Ideally we would like to have been licensed and regulated here in the UK and would gladly have returned to face a tax of 2 per cent, but I think most operators will now remain offshore." The news is a blow to plans by the Department for Culture, Media and Sport whose Gambling Act was designed to boost betting in the UK.
Liquor Stores Income Fund Announces Offer to Acquire all ...
EDMONTON, ALBERTA--(CCNMatthews - April 10, 2007) - Liquor Stores Income Fund ("Liquor Stores") (TSX:LIQ.UN) announced today that it has made an offer to acquire all of the outstanding trust units of Liquor Barn Income Fund ("Liquor Barn") (TSX:LBN.UN).
Liquor Stores is offering Liquor Barn unitholders 0.53 of a trust unit of Liquor Stores in exchange for each Liquor Barn trust unit, which represents a value of $11.30 per Liquor Barn trust unit, or a premium of approximately 34.6%, based on the closing prices of the Liquor Stores units and the Liquor Barn units on the Toronto Stock Exchange (the "TSX") on April 9, 2007, the last trading day prior to the date of commencement of the offer. The offer also represents a premium of approximately 35.7% based on the volume weighted average trading prices of the Liquor Stores units and the Liquor Barn units on the TSX for the 20 trading days ended April 9, 2007.
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