Today the three tenors have lost their superb

Well acquired benefits never. When ENI had been acquired in April 2007, of assets of the No.1 one Russian oil, Yukos, in forced liquidation, it was clear the nominee of the Gazprom, who immediately took an option on their maximum redemption after two years. The service rendered by the Italian straw man certainly finally not cost very expensive to the Russian gas an interest of just 7 per year. But the maturity date of the recovery is more than evil. In addition to the irony of fate that made that the operation is breaking full conduct of the trial of Mikhail Khodorkovsky in Moscow, Gazprom must pay $ 4.2 billion at the time where his debt skyrocketed. The group is forced to repay a dozen billion this year, or one quarter of its total debt. In addition, being passed by this crisis, the leading gas supplier to Europe sees its daily production volumes fall by 30. Barrel of oil that its President, Alexei Miller, saw, in 2007, exceeding $ 250 this year float around $ 50, which should bring down its average selling price of 35 throughout the year. With a decline of the third to the thirty-sixth World place of the stock market capitalizations in twenty-two months, Gazprom now experienced all facets of a liquefaction process leading directly to the Kremlin's help desk.

The tenor and the bookmaker

China is not always huggable. It is even the iron arm. Chinese steel producers thus claim a reduction of 40 to 50 of the price of ferrous ore which they are the buyers in the world. Previously triumphant, the top three suppliers of the world, BHP Billiton, Rio Tinto and Brazilian Vale, imposed tariffs for seven years. Today, the three tenors have lost their superb. Etranglé by the debt incurred in the purchase for us $ 38 billion of an Alcan then at the Zenith, Rio Tinto had to go to Beijing the rope to his neck. His draft agreement with Chinalco provides for the conversion of a bond to allow it to double its share of the Australian capital and to 18. The offer is good for the lender. With funding to 2.65 by its banks, it will perceive a 9.25 yield with its obligations. It is less good for the Australians, who see a piece of their national heritage threatened. It is even less for the shareholders to the dilution of their titles. The things could therefore block the deal and push Rio Tinto to withdraw to a plan B: a program of $ 10 billion of shares with a discount could curling 50. Time balances all came.

The hand of justice

Play cards on the table is preferable to the blows of poker when dealing with American prosecutors. By agreeing to go to Canossa and, eventually, in the jails of the State of New York, where it will spend two years Indian businessman Anurag Dikshit has certainly facilitated the outcome of a judicial imbroglio blocking more than two years the development of the number one British gambling online, PartyGaming, which he is the co-founder. If the 743e the classification of 'forbes' billionaire had to plead guilty in a personal capacity and pay 300 million dollars in fines for violating laws prohibiting gambling online in the United States, his company has is much better. The amicable agreement is that cost him 100 million the equivalent of a quarter of its revenue and removes the sword of Damocles that weighed on its course of scholarship. The flight of the title yesterday in the City has already reimbursed 16 of its criminal Bill to its co-founder and first shareholder. Better to convince banks to follow in its external growth, PartyGaming can also expect to reopen term American eldorado which he previously earned 90 of its profits. Legally, this time.