Financial News 10/1/12 – Xtrata & Glencore Agreement, Mars Exploration, Gay Parade Serbia


Financial News 10/1/12 – Xtrata & Glencore Agreement, Mars Exploration, Gay Parade Serbia

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    —Mining group Xstrata gave its long-awaited approval today, to a revised $33 billion bid from trader Glencore, caving into pressure from investors, by changing the deal, to put a payment plan in place, to keep its top managers from leaving. Xstrata dropped its insistence that the overall deal should be tied to a shareholders’ vote on the controversial package, which will offer over 70 top executives roughly $226 million, to make them stay put and continue their hard work. Through a complex structure of votes, investors will be able to express their views against the retention plan without endangering the merger, bringing the deal closer to a conclusion almost eight months after it was first announced. We can almost hear the sighs of relief.
    —Authorities in Serbia are considering banning a gay rights parade and all other public gatherings in Belgrade this weekend, fearing a repeat of the violent scenes that took place two years ago when ultranationalists tried to disrupt a similar event. Prime Minister Ivica Dacic, who also serves as interior minister, said on Monday that the planned parade – which intends to promote gay rights in the predominantly Serbian Orthodox Christian society – was a major security risk. Serbia’s Socialist-nationalist government, that came to power in July, is under pressure to demonstrate its readiness to protect human rights in order to keep the country’s bid to join the European Union. Traditionally conservative societies across the Balkans have been slow to accept greater gay rights, and similar events across the region have often ended in violence. The issue seems somewhat dated compared to how far gay rights have come in the US, with gay marriage having been passed recently, I wonder what these conservatives would think if they saw New York Cities annual gay pride parade.
    —Only 7 weeks into Nasa’s Curiosity rover’s alleged journey on the surface of Mars, it has already turned up evidence that flowing water existed on the planet. The robot has returned pictures of classic conglomerates – rocks that are made up of gravel and sand. Scientists on the mission team say, the size and rounded shape of the pebbles in the rock indicate they had been transported and eroded in water. Researchers think the rover has found a network of ancient streams. Scientists are now studying the images of the pebbles in the rock paying close attention to the different sizes and shapes which will give them clues to the speed and distance of the ancient water flow.
    —The Halloween countdown has begun! Who will you go as? Since costumes always reflect the current times, We predict some occupy wall street protestors,a brown face mitt romney or two, and a handful of honey boo boos and possibly a sugar bear.

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