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Obama unveils USD 3 billion contribution to UN climate fund
2014-11-14 06:01:00| Climate Ark Climate Change & Global Warming Newsfeed
Jagran Post: "It is in our national interest to helping vulnerable countries to build resilience to climate change," the administration official said as Obama headed to a G20 summit in Australia. Obama was en route to Brisbane after visiting Myanmar and China, where on Wednesday he and President Xi Jinping announced ambitious targets on greenhouse gas emissions as part of a pact designed to breathe new life into attempts to replace the international Kyoto treaty. Obama was expected to outline his pledge...
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Deutsche Telekom to set up new USD 500 mln investment fund
2014-11-11 15:36:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom wants to set up an investment fund worth EUR 500 million for a five-year period, on top of its existing T-Venture investments. Deutsche Telekom's supervisory board has approved the setup of a specialist team of investment managers for the new Deutsche Telekom Capital Partners (DTCP), set to launch early next year. The plan doubles the group's commitment to investments in ventures and innovation. DTCP will be one of the largest investment funds in Europe, and will also advise Deutsche Telekom on existing investments in STRATO, Interactive Media, Scout, Deutsche Telekom Innovation Pool (TIP) and T-Venture. T-Venture, the venture capital fund established in 1998, will be closed to new investments but the team will remain on board and continue to manage the existing portfolio of around 100 companies. T-Venture will also retain responsibility for follow-up investments within this portfolio. New investments will be executed through DTCP. DTCP will support Deutsche Telekom's strategy as an external innovation engine through investments in venture capital, with a special focus on Germany's start-up scene. On top of that, DTCP will also expand its activities to include private equity investments in existing undertakings to foster operational cooperation between over-the-top companies and Deutsche Telekom.
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Telefonica to sell China Unicom stake for USD 875 mln
2014-11-10 15:22:00| Telecompaper Headlines
(Telecompaper) Telefonica is looking to sell around half of its five percent stake in Chinese mobile operator China Unicom for as much as USD 875 million. The Spanish group is offering 597.8 million China Unicom shares at HKD 11.14 to HKD 11.34 each, according to Bloomberg, which represents a 1.2 percent to 3 percent discount on the Chinese operator's last closing price in Hong Kong. Telefonica has been present in the Chinese telecommunications market since 2005 when it first acquired a 3 percent stake in China Netcom, which was then sold to Unicom in 2008. The Spanish operator then increased its stake in China Unicom to almost 10 percent in 2011 before selling around half of its shareholding in June 2012 for some USD 1.4 billion. Over the past two years Telefonica has been divesting businesses in countries such as Ireland and the Czech Republic to raise funds for acquisitions in core markets including Germany and Brazil.
AT&T to acquire Mexico's Iusacell for USD 2.5 bln
2014-11-08 05:18:00| Telecompaper Headlines
(Telecompaper) AT&T has reached an agreement with Mexican holding Grupo Salinas to acquire mobile operator Iusacell for USD 2.5 billion, inclusive of Iusacell debt. Under the terms of the agreement, the US telco will acquire all of Iusacell's mobile properties, including licences, network assets, retail stores and approximately 8.6 million mobile subscribers. The acquisition will be completed after Grupo Salinas, the current owner of 50 percent of Iusacell, closes its announced purchase of the other 50 percent of Iusacell, previously owned by Televisa. Iusacell offers mobile service under both the Iusacell and Unefon brands with a network that covers about 70 percent of Mexico's population. AT&T said that it plans to expand Iusacell's network infrastructure to cover millions of additional consumers and businesses in Mexico. AT&T chairman and CEO Randall Stephenson said that the acquisition of Iusacell is a direct result of the telecoms reforms implemented by President Pena Nieto to encourage more competition and more investment in the local telecoms sector.
Nvidia Q3 revenues reach record USD 1.23 bln
2014-11-07 09:44:00| Telecompaper Headlines
(Telecompaper) Nvidia reported record revenues for its fiscal third quarter to 26 October, with the figure rising 16 percent from the year before to USD 1.23 billion. Record revenues were also reported for the year-to-date, up 15 percent to USD 3.43 billion. CEO Jen-Hsun Huang attributed the strong earnings to the company's focus on creating visual computing platforms for datacentre, mobile and PC. The gross margin went to 55.2 percent from 55.4 percent the year earlier while the net profit lifted 45 percent to USD 173 million. Nvidia intends to return USD 600 million to shareholders in fiscal 2016 through ongoing quarterly cash dividends and share repurchases. The company will pay its next quarterly cash dividend of USD 0.085 per share on 15 December. For the fourth quarter, the company is guiding for revenue of USD 1.20, plus or minus 2 percent, gross margin of 55.2 percent, plus or minus 50 basic points, and capex at USD 40-50 million.
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