Barack Obama: David, have you been telling people I address you as “bro”?
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Barack Obama: Uh, hello, David. First on the agenda is our response to the terror attacks in Paris.
David Cameron: Cool, homie! Let’s hang!
Barack Obama: David, what are you doing with your right hand?
David Cameron: I’m tryna high-five you, bud!
Barack Obama: We’re kind of pushed for time here, David, so perhaps we could begin talking about Paris.
David Cameron: Gimme some skin, G!
Barack Obama: David, I’m going to let you put your hand quietly back in your pocket, and we’ll pretend this didn’t happen. Now, about the—
David Cameron: Hey pimp, where dem bitches at!
Barack Obama: David, I’m starting to find this conversation a little uncomfortable.
David Cameron: Chill, dude! I’mma go cruise for some fly shorties and bring dem back to yo’ phat crib!
Barack Obama: David, I don’t know why you’re speaking in this unconvincing approximation of African-American street slang, but it really isn’t appropriate at a bilateral summit.
David Cameron: Aw, dat sucks, man! Why you buggin’?
Barack Obama: David, I’m going to be honest with you here. This is weird. Why are you talking like this? Is it meant to be some kind of joke? Are you trying to do an impression of somebody? Because I’m afraid I don’t get it.
David Cameron: Hells no, bro! I ain’t messin’ wit’ ya! You’re my n—
Barack Obama: David, stop right there. Do not say that word. You are not Jay-Z.
Silence.
Barack Obama: David, have you been telling people I address you as “bro”?
David Cameron: Fo’ sho’, dawg!
Barack Obama: David, I think we need to be clear about this. I have never addressed you as “bro”. I’m the President of the United States of America. That’s not how I talk. You are not my “bro”.
David Cameron: Whatever you say, blud!
Barack Obama: OK, now you’re mixing up American and British slang. David, I don’t know why you’ve been telling people I call you “bro”. Maybe you think it makes you look cool. Maybe you’re confusing fantasy with reality. Maybe you’ve been watching too much television. I don’t know. But, whatever the reason, I respectfully request that you stop doing it.
David Cameron: I hear ya, G-dog! My bad!
Barack Obama: And stop talking like that in my office. Are we clear about that?
David Cameron: Sure, broseph! We cool!
Barack Obama: David.
David Cameron: Aw, shiz.
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Barack Obama and David Cameron: their talks in full
Telegraph.co.uk Scene: the White House. Barack Obama: Good morning, David. Welcome to Washington. Glad you could make it. David Cameron: Yo, dawg! Waddup! Barack Obama: Uh, hello, David. First on the agenda is our response to the terror attacks in Paris. and more » |
 euronews |
France cyberdefense chief: 19000 cyberattacks in last week
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Trail Of IS 'Russian Spies' Seen In Kazakhstan And North Caucasus by noreply@rferl.org (Maqpal Mukankyzy, Carl Schreck)
One of the two men who appear to be executed in a video released by Islamic State (IS) militants appears to have ties to a village in southern Kazakhstan and Russia's restive North Caucasus region.
Sinking OIl Prices Cut Both Ways for Chinaby webdesk@voanews.com (William Ide)
As oil prices slide, China, the world’s largest importer, is benefiting in many ways. But analysts say as long as the slide continues, the risks and challenges that Beijing faces could mount. According to government statistics, China’s oil imports grew by nearly 10 percent last year, to nearly 2.3 billion barrels (308 million tons). As prices have fallen from around $115 a barrel in June to less than $50 this week, importers are saving tens of billions of dollars. Officials say the...
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Belarusian President Alyaksandr Lukashenka has vowed to improve ties with the West, which are badly strained, and warned Russia not to oppose the effort.
Russian opposition activist Alexei Navalny is detained by police on Wednesday after breaking his house arrest to give an interview to radio station 'Echo of Moscow'. Navalny called for his supporters to take a stand against Russian authorities. He was given a suspended sentence last month after being found guilty of embezzling money Continue reading...
Lawmakers Want Russia To Celebrate Taking Of Paris In 1814by noreply@rferl.org (RFE/RL)
Russian lawmakers are calling for a holiday marking the anniversary of the capture of Paris in 1814 by a coalition that included Russian troops led the Tsar Alexander I.
Paris attacks: from solidarity to surveillance - videoby Phoebe Greenwood, Phil Maynard and Ken Macfarlane
The attacks in the French capital on the offices of a satirical magazine, in the streets and at a kosher supermarket prompted a wave of public outrage and solidarity. But in the days after the attacks politicians and others have seized on the events to push different agendas. Phoebe Greenwoodrecaps a febrile week in which solidarity and support for free expression began to give way to calls for wider surveillance Continue reading...
New legislation may outlaw the use of drones by artists – just when robot aircrafts and their aerial stunts are really taking flight
We all have the right to a drone of our own. Admittedly, if everyone flies robot aircraft, the skies will get very full, and some drones are large enough and can go high enough to worry civil aviation authorities. But a drone equipped with a camera is an amazing perspective-shifting device that allows anyone to see the world in a new way.
American artists who make use of drones – from graffiti artists to anarchistic scrutineers of the security state – are worried that new regulations to be submitted to Congress by the Federal Aviation Administration later this year will make it impossible to use a drone to spray paint from above or make a video of the US-Mexico border.
Continue reading...Top Russian Official 'Ashamed' Of Culture Crackdown, Quits Ministry by noreply@rferl.org (Claire Bigg)
A prominent Russian public figure has blasted the culture minister for overseeing a mounting campaign against independent artists critical of authorities, and has quit the ministry.
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WANA, Pakistan (Reuters) - A U.S. drone strike in northwest Pakistan killed at least five suspected militants on Thursday, Pakistani intelligence officials said.
US loosens embargo on Cuba, making trade and travel easierby By BRADLEY KLAPPER and MICHAEL WEISSENSTEIN
WASHINGTON (AP) -- The Obama administration is putting a large dent in the U.S. embargo against Cuba as of Friday, significantly loosening restrictions on American trade and investment....
 The Moscow Times |
EU foreign policy chief's paper on EU-Russia relations - text
Reuters BRUSSELS Jan 15 (Reuters) - The following is the text of a discussion paper sent by EU foreign policy chief Federica Mogherini to the 28 members of the European Union, spelling out options for future relations with Russia. Mogherini was not immediately ... EU Parliament calls Russia potential threat to EUWashington Post EU may flirt with Moscow, not yet set to yieldReuters UK Seven EU countries support lifting sanctions on Russia — sourceITAR-TASS Sputnik International-The Moscow Times-NDTV all 300 news articles » |
Iranian officials say Russian Defense Minister Sergei Shoigu is expected to visit Tehran for two days next week.
Spain’s supreme court said Wednesday it would hear a Belgian woman’s claim that she’s the illegitimate daughter of former King Juan Carlos, who abdicated in June 2014 to allow his son Felipe to take over the throne.
The woman, Ingrid Sartiau, was born in 1966, after Juan Carlos married. She says her mother had an affair with him in the 1960s while he was a crown prince, the Guardian reports. The king’s abdication meant that he lost his full immunity from prosecution.
The Spanish court rejected a separate claim by Alberto Sola, born in 1956, who also said his mother had an affair with Juan Carlos. Both claims had initially been rejected in 2012 when the courts were not authorized to prosecute him.
Although parliament had agreed to give Juan Carlos a certain degree of immunity from the lower courts post-abdication, he can still be tried in the high court. The suit could require Juan Carlos to take a paternity test and may lead to a public hearing.
This is just the latest in a series of scandals involving the Spanish royal family, with King Felipe VI’s popularity falling and his sister Princess Cristina currently facing a tax fraud trial.
[Guardian]
The European Court of Human Rights has rejected a complaint by one of Josef Stalin's grandsons over an article calling the Soviet dictator a "bloodthirsty cannibal."
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 Kansas City Star |
Paris terror attacks: Where are we now?
CNN International (CNN) More than a week after the Paris terror attacks and with an investigation in full swing, the evidence points to an international conspiracy by militants to bring terror to the streets of France's capital. There are reports of a new accomplice, in addition to the ... Police Photo Shows Kosher Supermarket Attacker's Weapons StashNBCNews.com Spain: French Gunman Traveled to Madrid Before AttackingNew York Times all 356 news articles » |
Russia Cuts Off European Gas Supplies, Starts Selling Dollarsby The European Union Times
Vladimir Putin has been silent lately. But if anyone thought he had been shamed into defeat or marginalized, then think again.
In the last few hours Russia has announced two key strategic decisions that show they are not going to stand idly by while their economy and way of life are destroyed by Western forces.
First, presumably in response to stiff sanctions leveled by the United States and the European Union after the annexation of Crimea last year, Russia has cut off 60% of Europe’s gas supplies right in the middle of winter. This has caused an almost immediate crisis in six European nations that have seen a complete cut-off to their supplies – Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey – with more to follow. According to reports via Zero Hedge, the effect has been almost instantaneous.
Without Russia residents across Europe have no way of staying warm.
Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,” Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis “within hours.” Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply; and six countries reported a complete shut-off of Russian gas. The EU raged that the sudden cut-off to some of its member countries was “completely unacceptable,” but Gazprom CEO Alexey Miller later added that Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey; and Russian Energy Minister Alexander Novak stated unequivocally, “the decision has been made.”
Russia has taken similar steps in the past because of non-payment but turned the gas supplies back on once deals were reached.
This time, however, there won’t be a deal.
Russia says it will deliver the gas through Turkey, and then it’s up to the European Union to build the infrastructure that will transport it to the rest of the continent, as noted by Bloomberg.
“Transit risks for European consumers on the territory of Ukraine remain,” Miller said in an e-mailed statement. “There are no other options” except for the planned Turkish Stream link, he said.
“We have informed our European partners, and now it is up to them to put in place the necessary infrastructure starting from the Turkish-Greek border,” Miller said.
…
“The decision has been made,” Novak said. “We are diversifying and eliminating the risks of unreliable countries that caused problems in past years, including for European consumers.”
Europe, of course, does not have the necessary infrastructure in place for this, and Vladimir Putin most certainly knew this before he shut off the spigots.
Second, and perhaps even more significant than the overt move to show Europe who’s boss, Putin took a direct shot at the United States.
Also from Zero Hedge:
As Bloomberg reports Russia “may unseal its $88 billion Reserve Fund and convert some of its foreign-currency holdings into rubles, the latest government effort to prop up an economy veering into its worst slump since 2009.”
These are dollars which Russia would have otherwise recycled into US denominated assets. Instead, Russia will purchase even more Rubles and use the proceeds for FX and economic stabilization purposes.
“Together with the central bank, we are selling a part of our foreign-currency reserves,” Finance Minister Anton Siluanov said in Moscow today. “We’ll get rubles and place them in deposits for banks, giving liquidity to the economy.”
Call it less than amicable divorce, call it what you will: what it is, is Russia violently leaving the ranks of countries that exchange crude for US paper.
What we are seeing are the strategic moves that will eventually catalyze the next great war. And make no mistake, this is exactly what’s in store for the world should these escalations continue.
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 Telegraph.co.uk |
These are the four biggest threats to the world right now
Telegraph.co.uk The biggest threat to world stability over the next 10 years is likely to come from geopolitical tensions. According to the report, the crisis in Ukraine, Russia's simmering tensions with Europe, and strained Chinese-Japanese relations are all evidence ... Geopolitical Conflict Is World's Top Economic Risk, Report SaysHuffington Post Global conflict is world's top threat: DavosCNBC Conflict trumps economy as top risk to world in Davos surveyReuters The Guardian -ABC News all 183 news articles » |
 euronews |
Turkish premier likens Israel's Netanyahu to Paris attackers
euronews ISTANBUL (Reuters) – Turkish Prime Minister Ahmet Davutoglu on Thursday compared hisIsraeli counterpart Benjamin Netanyahu to the Islamist militants who killed 17 people in Paris last week, saying both had committed crimes against humanity. He also ... War of words between Israeli, Turkish leadersStuff.co.nz Paris attacks: Turkish PM compares Netanyahu to Charlie Hebdo attackersTelegraph.co.uk Bibi's Grand Paris Hypocrisy called out! Who French cops should also be arrestingAl-Bawaba all 195 news articles » |
Russia's tumbling ruble currency means migrant workers from Central Asia can send home fewer dollars in remittances. As a result, it seems some may now be quitting Russia. On the streets of Moscow, many people told RFE/RL's Tom Balmforth that they'd noticed snow wasn't being cleared - anecdotal evidence that the city's army of migrant street cleaners has diminished.
There are 2,325 billionaires in the world, according to the Wealth-X and UBS Billionaire Census 2014, and just over 12% of them are women.
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 USA TODAY |
Cyberjihad in France: 19000 French websites hit
USA TODAY As many as 19,000 French websites have been "defaced" by hackers since the terror attacks there last week, in what some French news outlets are calling a "cyber jihad." At least some of the attacks were carried out by known Islamic hacker groups, said Adm. and more » |
 Bloomberg |
Swiss National Bank Shocks the World
Bloomberg Since the financial crisis erupted in 2008 and the world tumbled into recession, major central banks have deployed ultra-easy policy in the form of near-zero interest rates and cheap cash that Deutsche Bank AG estimates totaled $10 trillion. The unity ... World central banks on deflation alert as Swiss cut rate to -0.75%Fortune Premarket: World stocks tumble as Swiss shock markets, let franc soarThe Globe and Mail Swiss recalibrate currency world by dropping pegReuters Blogs (blog) Telegraph.co.uk all 1,102 news articles » |
 CNN |
The richest woman in the world is ...
CNN With a combined wealth of $930 billion, the world's richest females are making their mark on the global economy -- and their fortunes are only expected to improve in 2015. Of the 286 female billionaires identified, only 17% have self-made fortunes. The ... and more » |
 Kansas City Star |
Hollande's important speech on Islamophobia: "Muslims are the first victims of ...
Vox "It is Muslims who are the first victims of fanaticism, fundamentalism and intolerance," French President Francois Hollande said in a Thursday speech at the Arab World Institute in Paris. It's an important message given the spate of anti-Muslim attacks in the ... French President Speaks Up for France's MuslimsWall Street Journal 19000 French websites under attackABC15 Arizona French broadcast monitor studies media's coverage of attacksWashington Post Irish Times -News24 -The Straits Times all 589 news articles » |
Putin: NGOs Must Pursue 'Common National Goals'by noreply@rferl.org (RFE/RL)
Russian President Vladimir Putin says nongovernmental organizations (NGOs) should help achieve "common national goals" and not oppose the government.
What is the human soul? by The European Union Times
Christianity and many other religions sets forth the tenet that God gave all humans a soul, the “breath of life,” which is the essence of consciousness (the ability to be aware of the past, present and future) and the essence of their awareness of being. Christians believe that we were created in God’s image and are a part of God, the Creator of our Universe and probably many more universes [1-2]. As a religious physicist, I have argued that God is an infinite (or at least higher dimensional) entity who may simultaneously exist inside our Universe and outside of our universe via the Holy Trinity [1]. Consequently, I have struggled to understand how we as finite humans residing in finite four-dimensional spacetime (x,y,z, and t) could also be a part of God who is likely infinite. Jesus Christ, the Son of God, also resided in our four-dimensional Universe. There are details associated with His glorious resurrection that I think may offer tremendous insight and clues into what our soul may constitute, which, thinking deeply about gave me an epiphany of sorts that I will presently discuss.
One of the most fascinating aspects of being human is the ability to create. Creation, in some sense, requires the ability to “think outside of the box” and to distance or separate the mind from the problem to be solved or studies as an external, unbiased observer. In fact, mathematics might be viewed as our effort to establish a logical template for our apparently infinite ability to create (at least in our minds which I call the playground of the infinities). Yet our mathematics goes far beyond conventional four dimensional spacetime – beyond our learned and physical intuition – and predicts higher dimensions (as required for String Theory, e.g.) and even predicted non-Euclidean (Lobachevskian and Riemannian space) which was later integrated into Einstein’s relativity (via spacetime curvature). Thus, it would appear that there is something fundamental associated with our ability to create that can transcend spacetime and biology which I argue is integral to our soul.
When Jesus perished on the Cross and was resurrected three days later, numerous witnesses attested to the fact that He could pass through walls. How could one person living in our universe be able to go through walls? Well, if one lives in a higher dimension encompassing our universe, it becomes very easy to go through walls. This reminds me of the famous novel, Flatland [3-4], where a three dimensional sphere visits a two dimensional square imprisoned in a two dimensional jail and the sphere seemingly appears (to the square) as a two dimensional circle, which first grows in diameter, then diminishes, and then disappears. Thus, if resurrected Jesus had higher dimensional properties, then His ability to literally appear and disappear from rooms and walk through walls could be a logical possibility [5]. Beyond this, considering all of the miracles attributed to Jesus, where and what was His energy source? How could God appear to Moses as a cool fire? Could they not have come from other dimensions that we just can’t see?
On top of this, I have always wondered how souls could manage to travel the full span/dimensions of our Universe – assuming that it is bounded, and if they were so inclined – without the requirement that the journey would require thousands of years assuming they travel at the speed of light [1-2]. Now for pure energy traveling at this speed, time does cease, but for those of us rooted as physical matter (i.e. with physical bodies), we would never be able to witness their full journey to the ends of spacetime in our lifetimes.
Thus, it occurred to me that we, like God, must have a component of our being that transcends four dimensional spacetime just as we can so easily do in our imagination. In that spirit (literally), our soul must be infinitely- or at least higher- dimensional to enable our creativity. Then, travel of enormous distances (e.g. parsecs) becomes trivial for the untethered soul – moving from one four dimensional spacetime point to another – by moving to a higher dimension and back to four dimensions. For example, traveling from the North pole to the South pole along the curved surface of the Earth is far longer than by tunneling through the center of the Earth. Wormholes have been postulated as a means to enable and assist the astonishingly enormous distances associated with space and/or time travel [6-7]. These distances may be nearly impossible for us to journey as four dimensional matter-constituent creatures (except for Jesus, of course, the Son of God – the Creator of everything), but our soul can probably easily travel them if it has a higher dimensional component. Viewed in this way, we can better understand how someone resurrected might be able to appear out of nowhere and easily pass through walls. There are of course other means (e.g. quantum tunneling) to traverse seemingly impossible barriers but that would take us too far afield.
Human soul is tiny piece of infinite whole
Human soul is tiny piece of infinite whole
We can also better understand the efforts of those who seek to deny or take us away from God to “prove” that all of our existence is completely confined within the “reality” of four dimensional spacetime which, in my opinion, is not completely. We do live in a spacetime “bubble” of sorts which works quite nicely on its own principles of physics. However, the very fact that our universe is expanding into nothingness just as a two dimensional balloon surface expands in three dimensions of space demonstrates in my opinion that there are higher dimensions outside of our universe. Even String Theory predicts this [8].
Materialism can be considered as an attempt to confine our free dimensionally-transcending spirits within the limits of our universe and to forget that we have something inside each of us that is far greater and to hide us away and from and make us forget about the likely infinitely-dimensional Creator of spacetime and of many more universes of potentially varying dimensions – God. When our material/physical bodies perish, our infinitely-dimensional or higher dimensional soul returns to its Creator and escapes the confines of our universe. In my opinion, our souls are tiny pieces of an infinite and yet ever-growing whole. This is how we were created in God’s image – we are infinitely or at least higher dimensional pieces of God. I do not pretend to claim that my simple theory explains everything, nor that it is necessarily “correct.” It is only a theory, of course. But it certainly inspires me to continue the quest for better understanding of my Creator which I suspect will never end. It also demonstrates that science and theology are not at odds with one another but in my opinion, mutually inspire and complement one another [9]. You can be a scientist and believe in God despite those who ignorantly claim otherwise.
I will close my essay with a vision that I just can’t seem to get of my head. That is of large numbers of fireflies (souls), generating their own creative energy/light within a span of different universes of varying dimensions flying into the infinite expanse of darkness/nothingness, illuminating it, all in the presence of an infinitely bright light (God) that created them all. It’s a truly beautiful vision. Glory be to God!
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The Charlie Hebdo attack sparked a divisive new chapter in the war of words between allies turned rivals.
Anti-Maidan pledges to fight any attempts to bring Russians to streets to protest against government
A new group of “patriots” have vowed to defend Russia against pro-democracy protesters who “threaten its constitution”, using violent means if necessary. The group, which calls itself anti-Maidan, said on Thursday it would fight any attempts to bring Russians on to the streets to protest against the government. Its name is a reference to the Maidan protests in Kiev last year that eventually led to the toppling of former Ukraine president Viktor Yanukovych.
“All street movements and colour revolutions lead to blood. Women, children and old people suffer first,” said Dmitry Sablin, previously a long-standing MP from President Vladimir Putin’s United Russia party, who recently became a senator in Russia’s upper house of parliament.
Continue reading... CBS News |
France hit by unprecedented wave of cyber attacks
CBS News PARIS -- Hackers have targeted about 19,000 French websites since a rampage by Islamic extremists left 20 dead last week, a top French cyberdefense official said Thursday as the president tried to calm the nation's inflamed religious tensions. France is on ... UPDATE 1-Hollande reassures Muslims, Islamists hack French websitesReuters Charlie Hebdo: Hackers have now hit 19000 French websitesMirror.co.uk Hollande's important speech on Islamophobia: "Muslims are the first victims of ...Vox The Indian Express -Jerusalem Post -Daily Caller all 604 news articles » |
Police Stand By for Now as Kremlin Critic Defies House Arrestby webdesk@voanews.com (Reuters)
Ten days after cutting off his monitoring tag and declaring he would not stay under house arrest, Kremlin critic Alexei Navalny says Russian police are standing by while he walks out of his door. Although the house arrest order has not been lifted since an embezzlement case against him ended in a suspended sentence on December 30, no one has stopped him from walking out of his Moscow apartment or giving a radio interview. “I just decided not to comply with the house arrest and broke...
 USA TODAY |
Obama to chat with YouTube after State of the Union
USA TODAY President Obama has picked a unique venue for a post-State of the Union interview: You Tube. The president will take questions from YouTube hosts next Thursday, two days after his State of the Union address. "YouTube creators Bethany Mota, GloZell, and ... and more » |
Cameron to Obama: Force Tech Companies to Cooperate with Surveillance Agency by The European Union Times
British government engaging in “cynical opportunism” following attack in France.
The British Prime Minister, David Cameron, wants President Obama to pressure social media to cooperate with GCHQ, the British intelligence service that works closely with the NSA in the United States to surveil the internet and private electronic communication.
Intelligence services are increasingly critical of encryption methods used by Facebook and Twitter to secure the communications of users.
MI5 boss Andrew Parker took the tech giants to task for encryption and warned the “dark places from where those who wish us harm can plot and plan are increasing.”
Parker said tech companies must offer “greater co-operation” in the fight against terrorism and added that “privacy has never been an absolute right.”
Cameron’s request follows an earlier suggestion that the United Kingdom may outlaw online messaging services that use encryption.
Cameron, in a meeting scheduled for Friday in Washington, will ask Obama to support an effort to deny people the government considers terrorists and terrorist sympathizers a “safe place” on the internet.
Privacy International has accused Cameron and the British government of “cynical opportunism” and of using this terrorist act for their own selfish gains in the aftermath of the Charlie Hebdo attack.
“Government officials … rally in the name of freedom and human rights claiming that the terrorists will never win and hate us for our freedoms. Then moments later … they attempt to curtail our rights they boldly proclaim in public as unassailable,” a spokesman for the group said.
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 Reuters |
Hollande reassures Muslims, Islamists hack French websites
Reuters PARIS (Reuters) - President Francois Hollande assured Muslims in France and abroad on Thursday that his country respected them and their religion but would not compromise its commitment to freedom and democracy. Speaking a week after Islamist ... In tense France, car injures officer at presidential palaceU-T San Diego Cyberjihad in France: 19000 French websites hitUSA TODAY France sees 19000 cyberattacks since terror rampageYnetnews Vox -Mirror.co.uk -Wall Street Journal all 597 news articles » |
PARIS (Reuters) - The French investigation into last week's Paris shootings is exploring the possible role of Djamel Beghal, an Islamist suspected of first bringing the gunmen together and putting them on the path from impressionable youths to cold-blooded killers.
The Week Magazine |
Eric Holder calls for improved tracking of police shootings
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Belgian public broadcaster RTBF reports that two people have been killed and one was injured during an antiterrorism operation in the east of the country.
Mexican billionaire Carlos Slim has become the largest shareholder of the New York Times Company after exercising warrants to double his stake in the publisher to 16.8 percent.
Entities affiliated with Slim exercised the warrants he bought in 2009 when he loaned the company $250 million during the height of the financial crisis.
New York Times, controlled by the Ochs-Sulzberger family through Class B shares, paid back the loan in 2011.
Slim's total stake is valued at $341.4 million, based on the stock's Wednesday closing price of $12.28.
He follows other billionaires who have put their faith in the media business. Amazon founder Jeff Bezos bought the Washington Post in 2013 while Warren Buffett has invested in several newspapers.
Slim acquired nearly 15.9 million shares of Class A common stock at $6.36 per share. He earlier held an 8 percent stake.
New York Times intends to use cash proceeds of about $101.1 million to buy back Class A shares.
"..This one-off repurchase program should not be viewed as a change of position about our capital allocation plans," Chief Executive Mark Thompson said.
New York Times, which has been under pressure to replace an evaporating pool of print advertising dollars with digital ads and money from subscriptions, projected in November a further decline in advertising sales for the current quarter.
<a href="http://www.globalpost.com/dispatch/news/regions/americas/united-states/150115/mexican-billionnaire-carlos-slim-becomes-top-new" rel="nofollow">http://www.globalpost.com/dispatch/news/regions/americas/united-states/150115/mexican-billionnaire-carlos-slim-becomes-top-new</a>
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 The Moscow Times |
Will 2015 Be A Turning Point For Putin And His Regime?
Forbes This year will be a tough one for Vladimir Putin as the Russian people come to better understand the huge social and economic costs of his Ukraine venture. Putin has violated his pledge of growth and prosperity. He has lost Ukraine and has turned ... Putin expresses deep condolences to France over attack in ParisITAR-TASS Putin and 2015: Time for the IMF in RussiaFox News Paris attack Live: Putin condemns attack on Charlie Hebdo magazine officeFirstpost The Moscow Times -Kyiv Post -Buenos Aires Herald all 55 news articles » |
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