Apple's iWork for iCloud is rolling out in public beta today. The app, announced earlier this month
Source: http://gizmodo.com/apples-iwork-for-icloud-is-rolling-out-in-public-beta-t-837741227
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By Clara Ferreira-Marques and Sarah Young
LONDON (Reuters) - Financier Nat Rothschild, co-founder of troubled Indonesian coal miner Bumi, has sued the company and his one-time partners, taking one of London's messiest corporate battles to court.
Rothschild, who helped set up Bumi almost three years ago, has long opposed the miner's current management, and in a petition heard on Thursday argued Bumi was run in a way that hurt, or "unfairly prejudiced" small investors. A claim of "unfair prejudice" is a key legal remedy under UK law available to smaller investors left unable to block decisions.
Rothschild and his erstwhile Indonesian partners - primarily the influential Bakrie family - have been at odds for over two years, their relationship souring just months after they struck a deal that aimed to bring Indonesian mining promise to London.
Both sides have lost heavily as the partnership fell apart, amid tumbling thermal coal prices, boardroom battles and allegations of misuse of funds and illegal phone hacking.
According to Thursday's petition, Rothschild will not seek financial compensation with the case, but instead asked a court to scrap "relationship agreements" between the company and the Bakries, and to remove outgoing chairman Samin Tan and his executive and Bumi director Alex Ramlie from the board.
Bumi's current board is seeking to turn around the company's fortunes by splitting with the Bakrie family and focusing on majority owned Indonesian subsidiary Berau Coal.
The Bakries have agreed to split with the London firm, in a deal that will see them buy back a 29 percent stake in Indonesian unit Bumi Resources currently held by Bumi. They will sell their interest in the parent company to their partner, major Bumi shareholder and outgoing chairman Tan, lifting his stake to over 47 percent.
A spokesman for Bumi said the court proceedings were "an unnecessary distraction and serve no useful purpose".
"The relationship agreements will come to an end and the board will be restructured as part of the separation transaction," he said.
A spokesman for the Bakries said the family was concentrating on the split and the stake purchase "and we hope Mr Rothschild will support that".
SPLIT PLAN
The split plan was set in motion on Thursday, when Bumi agreed to sell the Bumi Resources stake for $501 million, conditional on the Bakries selling their stake in Bumi Plc. The deal is also conditional on independent shareholder approval.
Rothschild, who holds 14.8 percent of the company, has questioned the plan to sell the Bakrie stake to Tan.
"For the sake of the London market, I hope the regulators step in and ensure the interests of independent shareholders are protected," Rothschild said in a statement before the petition was heard.
Tan's stake rises to 47.6 percent, but he is seeking an exemption to rules which would require a shareholder with more than 30 percent to make a mandatory takeover bid.
Bumi, which has battled investor scepticism over the Bakrie family's ability to raise the necessary cash to buy back Bumi Resources and seal the split, said on Thursday that funding details of the deal were yet to be finalised. But it also sought to put in safeguards.
"More needs to be done before we are able to present a comprehensive package for shareholders to consider," the company's senior independent non-executive director Julian Horn-Smith said. He said this included finalising arrangements covering how the funds will be transferred to close the deal.
A general meeting for independent shareholders to vote on the deal is planned for the autumn, potentially before the next court hearing.
(Reporting by Clara Ferreira-Marques; editing by Keiron Henderson)
Source: http://news.yahoo.com/co-founder-rothschild-sues-troubled-miner-bumi-174027824.html
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Source: http://blogs.ft.com/beyond-brics/2013/07/17/s-africa-retail-surprise/
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PHOENIX (AP) ? A new report shows an Arizona wildfire that began with a lightning strike and caused little immediate concern because of its remote location and small size quickly grew into an inferno, leading officials to rapidly order more resources in the hours before the flames killed 19 members of an elite Hotshot crew.
The report from the Arizona State Forestry Division provides precise detail about the response to the fire that began June 28 outside the small town of Yarnell, including the unpredictable weather around the blaze and the exact times in which it escalated and key resources were deployed.
The report doesn't address the question of why the fire crew was still on the mountain above the town more than an hour after the winds shifted about 180 degrees and brought the fire back toward them. It also wasn't immediately clear whether the Hotshots were warned of the erratically changing weather before they were forced to take shelter and were killed.
The report describes how the fire worsened hour by hour ? causing flames up to 20 feet high ? as managers called in inmate and Hotshot firefighting crews and air support.
After the blaze was ignited about 60 miles northwest of Phoenix, an aerial unit assessed it. The unit found the fire to be "less than one acre, in a large boulder field," with little smoke and no structures at immediate risk.
Officials ordered two inmate crews, an engine and a helicopter to report to the scene early Saturday morning, June 29, to "work multiple lightning fires" in the area.
By the next day, the Yarnell Hill Fire was the only one still burning and had grown only slightly, to about 4 acres. Small, single-engine aircraft were used throughout the day as crews worked the ground.
By 5:30 p.m., the fire was only about 6 acres in size.
Air support was ordered but couldn't respond due to thunderstorms and high winds, according to the report. Later, a DC-10 capable of dropping large amounts of fire retardant to prevent the spread of flames was available but not ordered due to concerns about its effectiveness in the steep, boulder-strewn terrain and because darkness was setting in.
By 7:38 p.m., the blaze had grown to about 100 acres but was still "advancing slowly."
On Sunday at about 8 a.m., the 20-member Granite Mountain Hotshots team arrived and headed in to fight the fire, as small aircraft and helicopters worked the blaze from above. Heavy air tankers were ordered just after noon, but only one was able to respond, making multiple retardant drops on the fire.
According to the report, the fire had now increased in size to about 1,000 acres and was burning swiftly through an area that hadn't experienced a significant wildfire in nearly 50 years.
Two large air tankers were sent back to the Yarnell Hill Fire to try to stall its advance.
A few hours later, at 3:26 p.m., officials received word of heavy winds from a thunderstorm moving into the area as the fire grew.
Soon thereafter, the blaze was so out of control that officials asked for half of the available western U.S. heavy air tanker fleet ? six planes. It was about 4 p.m.
Five of the planes weren't deployed because of the limited number of tankers in the nation's aerial firefighting fleet and the dangerous weather conditions at the time. Jim Paxon, a spokesman for the Arizona Division of Forestry, which was managing the fire, said one plane had been headed to the fire from California, but engine problems forced it to turn back.
Paxon noted that even if the planes had been available, winds were so strong they couldn't have been used to save the firefighters' lives.
"We could have had air tankers stacked up from here to the stratosphere and it wouldn't have made a difference," he said Monday. "The fire went through retardant lines like they were non-existent."
Within 45 minutes, at 4:47 p.m., the Hotshot crew radioed that they were trapped and deploying their emergency shelters. Less than two hours later, 19 of them were found dead. Only one crew member who was assigned as the lookout survived.
A national team of investigators is working to understand more about the firefighters' deaths and is expected to finish an initial report in about two months.
Paxon said the behavior of the fire and the enormous "blowup" when the winds shifted was highly unusual.
"It was just an extreme situation," he said.
The fire destroyed more than 100 homes before it was fully contained July 10.
Source: http://news.yahoo.com/report-arizona-wildfire-grew-quickly-erratic-020055060.html
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In what Nigel Godrich is calling a 'small meaningless rebellion,' Atoms for Peace and others exit the streaming service.
By Brenna Ehrlich
Radiohead's Thom Yorke performs during day two of the Coachella music festival
Photo: Getty Images
Source: http://www.mtv.com/news/articles/1710545/thom-yorke-spotify-atoms-for-peace.jhtml
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Delhi NCR
In the last four to five months residential values in Sector 76, Noida have shown an upward graph, as per data with MagicBricks.com. The capital values in the locality have moved up from approximately Rs 4,700-4,900 per sq ft in the Oct-Dec 2012 to?Rs 5,900 per sq ft in the Jan-Mar 2013, the data further revealed.
Several factors have led to this surge in property prices. For instance, the announcement of the Metro from City Centre to Sector 78 initiated the price hike as Sector 76 is just half a kilometre away. Further, several projects are nearing possession. This has also pushed prices in the locality.
?A large number of home buyers looking for ready-to-move-in properties are opting for this sector as multiple projects are nearing possession within the next 6-8 months,? informs Vikas Chand Jain, Director Aadinath Infratech, a city based realty firm. Some of the developers offering possession in this time frame are Amrapali Group, JM Group, Sikka Group, Aditya Builders, Skytech Group etc among others.
Giving an insight into the movement of real estate values in Sector 76, Vikas Sahani, Director, Property Guru states, ?Noida Authority gave the allotment of plots in Sector 76 in 2010 and capital values during the 2010-11 period ranged from Rs 2,800-3,200 per sq ft. It moved up during the 2011-12 period and settled at Rs 3,800-4,200 per sq ft. At present capital values in the sector hover around Rs 4,800-5,200 per sq ft.?
Citing another possible explanation for this trend Sahani adds ?The sector was also affected in the Noida Extension land row and work was stopped for nearly eight to nine months. Due to the slight delay caused in construction, developers suffered a loss of roughly Rs 400-500 per sq ft. Further, no new allotments have been done since 2010 and thus land is limited. So, land scarcity and the attempt to recover losses have led the developers to hike prices in the sector. As demand is high, developers feel buyers would still buy here.?
Maximum demand in the locality is witnessed for 2BHK units having a size of
1000-1150 sq ft. The most sought after budget range in the locality is Rs 50-55 lakh.
Sruthi Kailas, MagicBricks.com Bureau?
Source: http://content.magicbricks.com/residential-prices-surge-in-sector-76-noida/
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