Despite an election that could produce an anti-bailout government, and the 75% haircut for private creditors, some investors such as Greylock are buying Greek bonds. With the low price and high yields, the bet is that Greece won’t be abandoned no matter what. The investors tend to be veterans of the Latin American Brady bonds, which eventually proved lucrative. 2 comments!
Read more: Despite an election that could produce an anti-bailout government, and the 75% haircut for private creditors, some investors such as Greylock are buying Greek bonds. With the low price and high yields, the bet is that Greece won’t be abandoned no…
More than 10,000 students marched in downtown Montreal after student group leaders abandoned talks with Quebec’s education minister.
Go here to read the rest: Montreal student demonstration turns violent
Homeserve, fined £75,000 by Ofcom, is offering consumers compensation if it is the source of nuisance marketing calls
Householders plagued by unsolicited phone calls have been given welcome news after one of the companies making them received a hefty fine from the regulator and agreed to pay compensation to those affected.
Home insurance and repairs company HomeServe has been fined £750,000 by Ofcom after it was found to have been making an excessive number of silent and abandoned calls. It is offering £10 compensation to those it has targeted.
Silent calls have become an increasing cause of nuisance and alarm, particularly for older people. They occur when automatic dialler systems used by call centres make more calls than they have staff to take them. If no staff member is available to take an answered call it is automatically dropped; the consumer will hear nothing before being cut off.
“Silent and abandoned calls are annoying and can often cause distress to the people who receive them,” said Adam Scorer, director of policy and external affairs at Consumer Focus. “While they are usually caused by glitches in the technology rather than a deliberate act by sales staff, firms that do not control the technology show a lack of respect to consumers.”
Ofcom opened an investigation into the West Midlands-based HomeServe in 2011 as part of its monitoring and enforcement programme aimed at reducing harm caused to consumers by the problem calls.
Under Ofcom’s rules, the number of abandoned calls companies make to consumers each day is not allowed to exceed 3% of the total live calls made on that day.
Ofcom’s investigation into HomeServe found that the company exceeded this abandoned call rate on 42 separate occasions between 1
Insurance and home repair company HomeServe is fined £750,000 by Ofcom for making too many silent or abandoned calls to customers.
See the article here: HomeServe fined over silent calls
President calls on unregistered workers to stay away from abandoned mines after watching rescue of nine men
Nine workers trapped inside a mine in southern Peru have been rescued and brought to the surface after almost a week underground.
The men had been stuck about 200 meters (656ft) below ground since the informal, or “wildcat”, copper-and-gold mine partially collapsed last Thursday. They had been receiving oxygen and liquids through a giant hose that was in place before the accident.
“All of them are healthy but obviously dehydrated and dizzy,” Peru’s president, Ollanta Humala, said. “They need to get used to the sun still, that’s why they are wearing sunglasses.”
One of the miners, Jesus Japatint, said he was overwhelmed after walking out alive. “I spilled tears, happy tears,” he said.
Humala, who watched the rescue operation, warned wildcat miners to stay away from abandoned mines like Cabeza de Negro, saying they were dangerous. He also urged companies to register their workers and improve safety measures.
The cave-in spurred calls to formalise Peru’s vast informal mining sector, which generates an estimated $2bn (£1.25bn) a year.
The sale of MBNA Europe, Bank of America’s (BAC +0.3%) U.K. and Ireland credit card business, reportedly has been abandoned; the reasons are unclear, although new capital requirements by European regulators may have rendered the credit card business less attractive to potential acquirers. Post your comment!
View original post here: The sale of MBNA Europe, Bank of America’s ([[BAC]] +0.3%) U.K. and Ireland credit card business, reportedly has been abandoned; the reasons are unclear, although new capital requirements by European regulators may have rendered the credit card…