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Zero net deforestation is wrong target, warn experts

2013-11-14 21:12:00| Climate Ark Climate Change & Global Warming Newsfeed

Mongabay: Environmental initiatives that target zero net deforestation may miss their mark when it comes to slowing climate change and protecting biodiversity, warns a commentary published in this week's issue of the journal Science. While zero net deforestation may seem like a worthy target in efforts to curb forest loss, Sandra Brown and Daniel Zarin argue that the goal is at best, ambiguous, and at worst, may lead to perverse outcomes for the world's forests. "As global interest in reducing deforestation...

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Telekom Austria net profit falls 48% in Q3

2013-11-14 10:29:00| Telecompaper Headlines

(Telecompaper) Telekom Austria reported a sharp fall in third-quarter profits as it struggled to contain costs to face tough competition in its markets. Revenues were down 5.3 percent year-on-year to EUR 1.036 billion, and EBITDA fell 12.8 percent to EUR 357.9 million. The company said cost savings of EUR 112.9 million in the year to date could not offset a rise in costs in Austria to win over customers, while operations in Croatia and Bulgaria were under pressure from the weak economic conditions and regulatory effects. Net profit plunged 48.3 percent to EUR 51.3 million, and free cash flow was down 20.4 percent to EUR 0.30 per share. The company said it will focus on generating organic cash flow in order to improve its balance sheet, after it recently suffered downgrades in its credit ratings from S&P and Moody's. While net debt is down 16.6 percent since the start of the year, the recent EUR 1 billion purchase of spectrum in Austria is expected to push debt to 3.0 times EBITDA by year-end. The group aims to return to a stable BBB rating in the medium term. Telekom still maintained its guidance for capex for EUR 650-700 million over the full year, after EUR 493 million in the first nine months, and confirmed an annual dividend of EUR 0.05 per share. Annual revenues are still forecast at around EUR 4.1 billion.

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Increase in Net Revenue Reported by Marfrig

2013-11-14 01:00:00| ThePigSite - Industry News

BRAZIL - Net revenue increased to almost BRR5 billion for the latest quarter, reports Marfrig, an increase of 11 per cent over the previous three-month period, while gross margin rose to 11.9 per cent.

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Willbros Group to build gas pipeline for NET Mexico

2013-11-14 01:00:00| Hydrocarbons Technology

Energy infrastructure contractor Willbros Group has secured a contract from NET Mexico Pipeline Partners to construct the NET Mexico Pipeline in Texas, US.

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Cisco Q1 net down 4.6% on charges

2013-11-14 01:00:00| Total Telecom industry news

Shares dip after network giant's revenue growth misses expectations.

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