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Sunday, July 31, 2011
Mancini plans to add two to squad
Manchester City manager Roberto Mancini wants to make two more signings before the transfer deadline.
|||London – Manchester City manager Roberto Mancini wants to make two more signings before the transfer deadline as he tries to turn his team into serious contenders for the Premier League title.
Mancini has already spent £51 million ($83.7 million) since the end of last season after splashing out on Argentina forward Sergio Aguero, French left-back Gael Clichy and Montenegro defender Stefan Savic.
But the Italian believes his squad still needs further improvements before they are ready to challenge English champions Manchester United and make an impact in the Champions League.
“Sergio is another striker, a young one. We needed a player like him and he can make a difference,” Mancini told The Sun.
“But if we want to compete with all the other top teams at home and in the Champions League, we will need other players.
“We are working on this. We need someone in the middle and the right wing. One midfielder and one winger.”
Aguero cost £38 million and there is every chance Mancini – backed by City's Abu Dhabi-based owners – will spend big again as he eyes the likes of Arsenal winger Samir Nasri and Inter Milan forward Samuel Eto'o.
Inter are also interested in signing City captain Carlos Tevez, who wants to quit Eastlands for personal reasons, but Mancini expects the Argentine back in training next week.
Mancini added: “Carlos will remain a full part of the squad. He comes back from holiday next week. I don't know about a deal with Inter.”
If Tevez does stay he would link up with Aguero in a formidable forward line, but City's new signing isn't bothered whether his compatriot stays or not.
“We are good friends and play together in the national team but whatever he does is up to him, I just want to concentrate on playing here,” Aguero said.
“If he is here, then that is great. If not, then I will adapt without him. Who is here and who is not does not matter, what is important is that I become part of the team. It is easy to adapt these days.”
Aguero won't play for City in this weekend's Dublin Cup friendly tournament as he adjusts to his new life, but he has already been impressed by the club's appetite for success.
“I was very interested in playing here as it's a growing club and I hope that we can grow together,” he said.
“I think we have great players and a great team. I am playing at one of the best English teams at the moment and there are many things that can be achieved. We can win many titles and hopefully it will be a top year for us.” – Sapa-AFP
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Foster moves to Baggies on loan
West Bromwich Albion have signed Birmingham goalkeeper Ben Foster on loan for the forthcoming season.
|||London – West Bromwich Albion have signed Birmingham goalkeeper Ben Foster on loan for the forthcoming season with fellow stopper Boaz Myhill going in the opposite direction to St Andrew's.
Albion boss Roy Hodgson moved for former Manchester United star Foster following the sale of Scott Carson to Turkish club Bursaspor.
Foster, who earlier this year ruled himself out of England duty due to a lack of opportunities, will not return to Birmingham during the season as the deal prevents both clubs from recalling their keepers during the loan.
Hodgson told the club website: “We are very, very happy that the deal to bring Ben from Birmingham has gone through.
“He was always the goalkeeper that we targeted as our number one choice for the season. We are hoping he will be as successful here as he has been with his previous clubs.
Foster joined Birmingham from United last year and played all of the club's 38 Premier League games, but couldn't prevent the Blues being relegated to the Championship on the final day of the season.
Birmingham have been desperate to off-load some of their high earners to compensate for the financial blow of relegation, while Hong Kong-based owner Carson Yeung has also endured money problems recently. – Sapa-AFP
Source: http://www.iol.co.za/foster-moves-to-baggies-on-loan-1.1108759
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Arsenal?s Diaby to miss start of season
Arsenal will be without Abou Diaby for the start of the Premier League season after the midfielder had ankle surgery.
|||London – Arsenal will be without Abou Diaby for the start of the Premier League season after the midfielder had ankle surgery.
The France international was troubled by the problem last season and will miss Premier League matches against Newcastle, Liverpool and Manchester United. Diaby will also miss the playoffs for a spot in the Champions League group stage.
Arsenal manager Arsene Wenger says “he should be back eight to 10 weeks after his surgery, which means the end of August.” – Sapa-AP
Source: http://www.iol.co.za/arsenal-s-diaby-to-miss-start-of-season-1.1108671
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Saturday, July 30, 2011
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High oil prices lift Statoil
Source: http://www.norwaypost.no/oil-gas/shipping/high-oil-prices-lift-statoil-25506.html
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World stocks lower
Global stock markets fell after US lawmakers put off a vote on raising the government's debt limit and avoiding a potential default.
|||Global stock markets fell Friday after US lawmakers put off a vote on raising the government's debt limit and avoiding a potential default.
Oil fell below $97 a barrel as investors watched political wrangling in Washington and mulled possible worst-case scenarios of a US default in the event lawmakers miss a Tuesday deadline to raise the amount the government can borrow.
The Treasury Department says the debt ceiling - currently at $14.3 trillion - must be raised or the government won't have enough money to cover all its bills. That has led to fears the United States could default on its debt and harm the fragile global economy.
“We're basically standing on the edge of an abyss peaking over, with the bottom nowhere to be seen,” said IG Markets strategist Ben Potter in a report. He warned that without a deal by Monday, markets could “risk significant fear-based selling that could rapidly get out of control.”
In Europe, France's CAC-40 shed 1.1 percent to 3,672.93 while Germany's DAX lost 1 percent to 7,118.76. London's FTSE 100 was down 0.9 percent at 5,822.57.
Wall Street was set to fall. Dow futures dropped 0.4 percent to 12,148 and broader S&P 500 futures gave up 0.4 percent to 1,291.80.
Japan's Nikkei 225 stock average closed down 0.7 percent at 9,833.03. Hong Kong's Hang Seng index lost 0.6 percent to 22,440.25 and China's Shanghai Composite Index shed 0.3 percent to 2,701.73.
South Korea's Kospi slid 1.1 percent to 2,133.21. Australia and Bombay also declined while Singapore gained 0.1 percent.
The dollar fell to 77.61 yen in Asia from 77.88 yen late Thursday in New York. The euro fell to $1.4279 from $1.4311.
Republican leaders in the House of Representatives delayed the vote on the bill to extend the government's debt limit and cut federal spending, though there was an expectation it would occur later Thursday evening in Washington.
On Wall Street, a late sell-off Thursday erased earlier gains as investors fretted that the bill headed for a vote in the House of Representatives would fail to lead to a breakthrough in the debt stalemate.
The Dow Jones industrial average fell 62.44 points, or 0.5
percent, to close at 12,240.11 on Thursday. The index had been up as many 82 points earlier in the day following an unexpected decrease in new claims for unemployment benefits.
The Standard & Poor's 500 fell 0.3 percent to close at 1,300.67. The Nasdaq composite index, however, edged up 0.1 percent to 2,766.25.
Benchmark oil for September delivery was down 59 cents to $96.83 a barrel in electronic trading on the New York Mercantile Exchange. Crude rose 4 cents to settle at $97.44 on Thursday.
In London, Brent crude slipped 23 cents to $117.13 per barrel on the ICE Futures exchange. - Sapa-AP
Source: http://www.iol.co.za/world-stocks-lower-1.1108544
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Friday, July 29, 2011
FF+ digging for Malema trust records
The FF Plus has brought an application against Julius Malema's family trust to obtain it's financial statements.
|||The Freedom Front Plus has brought an application in terms of the Promotion of the Access to Information Act against Julius Malema's Ratanang family trust to obtain the trust's financial statements.
“This application comes against the backdrop of the revelations of the existence of the trust and allegations that the trust funds Malema's lavish lifestyle with income gained from corrupt relationships,” FF Plus spokesman Anton Alberts said on Friday.
“Malema, in reaction to the allegations, invited the South African Revenue Service (Sars) to do a lifestyle audit of his finances,” he said.
Youth League leader Malema had indicated he had nothing to hide and that was why the FF Plus had brought the application to give him the opportunity to show that everything was in order with the trust.
It was important to prove that Malema lived according to what he propagated, as he had “appointed himself as the mouthpiece of poor black people”.
“In that capacity he makes reckless and wild statements, sings hate speech songs, and creates unrealistic expectations with desperately poor people,” Alberts said.
“His influence is of great interest to South Africa's future and if he then breaks the law himself or lives unethically, the public should know about it so that the poor are not dragged along by a man who is nothing other than a false prophet.”
On Sunday, civil rights group AfriForum opened a corruption case against Malema following a City Press report that he had a trust fund allegedly for deposits from businessmen in Limpopo, which he used to bankroll his lifestyle.
The complaint was laid in terms of the Prevention and Combating of Corrupt Activities Act of 2004. -
Sapa
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Supply jitters fuel copper's surge
Copper has surged to its highest in more than three months as jitters about supplies from top producer Chile spurred
investor buying while uncertainty about the US debt crisis capped gains.
|||Copper surged on Friday to its highest in more than three months as jitters about supplies from top producer Chile spurred
investor buying while uncertainty about the US debt crisis capped gains.
Benchmark copper on the London Metal Exchange was trading at $9,802 a tonne at 11:11 SA time from $9,815 at the close on Thursday. The metal used in power and construction earlier touched $9,895 a tonne, its highest since April 11.
Copper prices have been boosted in recent days by a strike at the world's biggest copper mine, Chile's Escondida, which halted concentrate sales on Wednesday, reinforcing fears about shortages of the metal.
Chances of a prolonged strike are growing and the industrial action has sparked stoppage threats across mines in Chile, the world's top copper producer.
“The supply situation in Chile is arguing for higher prices,” said Peter Fertig, a consultant at Quantitative Commodity Research. “But failure to reach a solution on the US debt solution could compromise growth and demand.”
Eyes are on the United States where Republican leaders will scramble to rescue their budget deficit-cutting plan on Friday after conservatives mounted a rebellion that heaped uncertainty on efforts to avert a catastrophic debt default.
House of Representatives Speaker John Boehner's failure to round up enough support for his plan on Thursday exposed a rift in the Republican Party that is hampering efforts to reach a compromise to raise the US debt ceiling before a Tuesday deadline.
That has all undermined the dollar, which when it falls makes commodities priced in dollars cheaper for holders of other currencies.
CHINA TALK
The United States is the world's second-largest copper consumer after China, which accounts for about 40 percent of global demand estimated at 21 million tonnes this year.
China for much of the year so far has been absent from the international market, but analysts expect the country's consumers to come back to the market.
That will eventually be reflected in stocks of copper in LME registered warehouses, at 466,550 are down more than 11,000 tonnes since early June.
Traders are looking at cancelled warrants - material tagged for delivery - in Asian warehouses, particularly South Korea, a location from which copper travels to China.
“There's a lot of talk about China coming back, but we haven't seen much sign of this yet,” a copper trader said.
Aluminium stocks in LME approved warehouses stand at 4.45 million tonnes, down from record highs above 4.7 million tonnes in May.
Stocks of deliverable aluminium in warehouses monitored by the Shanghai Futures Exchange (SHFE) fell more than 10 percent to 181,715 tonnes.
“Power curbs have started to affect some smeltering activity as domestic consumption remains strong. This exacerbates the ongoing stock draw down at SHFE warehouses,” Credit Suisse Private Banking said in a note.
“Strong auto demand and the development of social housing are currently boosting increased use of aluminum in China.”
Three-month aluminium on the LME was trading at $2,627 a tonne from $2,638 at the close on Thursday, zinc at $2,497 from $2,519 and lead at $2,647 from $2,655 a tonne.
Tin was at $28,550 from $28,500 and nickel at $24,570 from Thursday's last bid at $24,550. - Reuters
Thursday, July 28, 2011
Football: Norway Cup as scheduled
"The World's Largest Football Tournament", Norway Cup will take place as scheduled, starting this coming wekend. Young people from all over the world participate in the week-long�tournament.
Source: http://www.norwaypost.no/football-handball/football-norway-cup-as-scheduled-25500.html
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