Russia's Foreign Minister Sergei Lavrov is apparently 'astonished' to hear that Poland's Foreign Minister, Radoslaw Sikorski, asked NATO and the US to deploy troops in Europe to provide 'some strategic reassurance', on a recent visit to Washington.  Since the scrapping of the US Bush-designed missile defense scheme which would have seen troops deployed in Poland and Czech Republic, the former has apparently been feeling vulnerable . . . Kim Zigfeld points out on Pyjamas Media that Russia's recent war 'games', which simulated a full scale pipeline-sabotaging missile-battering attack of Poland, taking place in the same month that seventy years earlier Russia did actually invade, is hardly likely to reassure the Poles of the ...

TODAY: Markelov murder suspect reportedly confesses; vengeance a possible motive?  Activist abducted in Moscow.  Spy chief issues warning on Georgia; Lavrov surprised at Poland soliciting US help.  Medvedev reserves army use for emergencies. Luzhkov lays into Abramovich; new vodka pricing; toy story. The Moscow Times reports that revenge may be the motive behind the shooting of human rights lawyer Stanislav Markelov.  Apparently the alleged gunman Nikita Tikhonov may have been a suspect in the stabbing of anti-fascist activist Alexander Ryukhin in 2006, whose mother Markelov was a lawyer for.  The other suspect, Eugenia Khasis, 24, appears to have no prior convictions.  Apparently the killer has confessed - the Other Russia reporting it to be ...

Teva Pharmaceutical Industries Ltd. (TEVA) reported earnings of 89 cents in the third quarter of 2009, up 16% from the year-ago period and a cent above the Zacks Consensus Estimate. Strong sales of Copaxone and in the respiratory business helped drive earnings in the reported quarter. Net sales increased 25% to $3.55 billion, with the Barr acquisition contributing to sales across different geographical segments. The strengthening U.S. dollar adversely impacted net sales by $160 million or 6%. Revenue performance across key business segments was mixed. While the Pharmaceuticals Sales segment posted growth of 27% with revenues coming in at $3.4 billion, the active pharmaceutical ingredients (API) segment reported an 8% decline in growth with sales coming in at $136 million. Pharmaceutical segment sales were driven by strong performances in the North American, European and International segments. The launch of generic versions of Ortho Tri-Cyclen Lo ...

Well, it is not as if I relish rubbing salt into old wounds, but this quote from the a href="http://www.ft.com/cms/s/0/8bb0da5a-c7dc-11de-8ba8-00144feab49a.html"latest piece by Ben Hall in Paris and Ralph Atkins in today's Financial Times/a is just too good to resist.br /br /blockquoteFrench manufacturing output rose at its fastest rate for nine years, according to a survey on Monday, confirming that France has become the economic powerhouse of continental Europe. Purchasing managers’ indices for manufacturing showed France performing significantly better than the continent’s other main economies – thanks to robust domestic demand./blockquotebr /br /a href="http://1.bp.blogspot.com/_ngczZkrw340/SvASaIFOk2I/AAAAAAAAPjI/Xa0wjOVFc3A/s1600-h/france+manufacturing.png"img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 400px; DISPLAY: block; HEIGHT: 213px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5399836193272533858" border="0" alt="" src="http://1.bp.blogspot.com/_ngczZkrw340/SvASaIFOk2I/AAAAAAAAPjI/Xa0wjOVFc3A/s400/france+manufacturing.png" //abr /br /Plenty of food for thought in this paragraph it seems to me. As a href="http://spaineconomy.blogspot.com/2009/10/french-rebound-continues-in-october.html"foreshadowed in this earlier post/a, it is the French economy - and not the German one - which is rebounding sharply, and this ...

TODAY: Opposition activist torture claims; Miliband leaves with no breakthrough regarding diplomatic concerns; meets with rights activists; Putin and Medvedev popularity waning?; President in need of own power structure to realize reforms; Stalin resurrection an identity issue; Gorbachev on Russophobia; alcohol; jokes; artThe Other Russia reports that Konstantin Makarov, a member of the outlawed National Bolshevik Party, and organizer of an opposition rally planned for the 31st October in Voronezh, was detained and beaten by two policeman, one of whom was S. Yemkov of the notorious Interior Ministry's Center for Extremism Prevention.  According to Makarov, his torturers told him that he would face similar treatment after each rally held by the National Bolsheviks.  Foreign Minister Sergei ...

On Friday, before market opened, Weyerhaeuser Company (WY) reported discouraging results for the third quarter 2009.  The company reported net sales of $1,407 million compared to $2,107 million in the year ago quarter. Excluding one time items, Weyerhaeuser reported a net loss of $56 million, or 26 cents per share versus a net loss of $3 million, or 1 cent per share, in the third quarter of 2008.  Weyerhaeuser operates through four business segment such as Timberlands, wood products, cellulose fibers and real estate. Excluding a pre-tax gain of $163 million from the sale of 140,000 acres of non-strategic timberlands in northwestern Oregon, the segment’s quarterly results decreased $10 million.  Excluding the pre-tax items, the wood product segment’s loss in the reported quarter decreased $55 million. During the quarter, cellulose fibers segment included a pre-tax gain of $122 million related to alternative fuel mixture credits, ...

French telecom giant France Telecom (FTE) has reported operating results for third-quarter 2009 with revenue falling 6.4% year over year to €12.69 billion (US$18.1 billion), primarily due to unfavorable exchange rate fluctuations (British pound versus Polish zloty) and reduced mobile termination rates (inter-operator fees). Revenue was also hurt by the recession-driven discontinuation of landline phone use by customers.       EBITDA & Margin France Telecom, which operates two of the leading telecom brands in Europe (Orange and Wanadoo), reported EBITDA of €4.6 billion (US$6.6 billion) which declined 8% from the year-ago quarter, resulting in a fall in EBITDA margin to 35.9% from 36.6%. This decline is a result of stringent price regulation and adverse currency exchange swings. Revenue by Key Markets Reported revenue in France (46% of group sales), the company’s largest market, declined 1.6% year over year to €5.9 billion (US$8.4 billion) ...

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.

• Randall Forsyth (Barron’s): Reflation trade shifting into reverse? October 27, 2009. Risk assets ranging from stocks to commodities to currencies seem to be faltering after being floated on a sea of liquidity.

• Doug Kass (TheStreet.com):   My “fast money” recap, October 28, 2009. I saw some emerging technical signs of market weakness that could override seasonal strength, including three failed rallies in the past week, a contracting number of new highs on the New York Stock Exchange, a breakdown in the Dow Jones Transportation Average and, generally, stocks have begun to sell off on good and bad news. … asked how vulnerable the market was over the short to intermediate term if I used the quantitative models that

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Rosneft has been fined $180 million by the Federal Anti-Monopoly Service for deliberately driving up wholesale prices for gasoline and other oil products in the first half of 2009, and Lukoil was warned that it could face a similar penalty...in which case, it's going to need the $1.5 billion it is trying to raise by selling dollar-denominated debt to international investors.  The state-owned Sayano-Shushenskaya hydropower plant was raided by riot police yesterday as part of a probe into an August flood that killed 75 employees.  Iran agrees with the 'general framework' of the UN-brokered proposal that it send most of its enriched uranium to Russia for processing into reactor fuel, but plans to make some changes.  'One common reaction is: 'If the foreigners are prepared to agree to this, there must be something wrong with this from Iran's point ...

I just published a quick rant on Huffington Post after watching Joe Scarborough complain and moan about how the U.S. is going it alone on Afghanistan during his morning MSNBC show.  It's no wonder so many countries are getting into bed with Venezuela, Russia, and China ... they probably show more appreciation.

Both Washington and its pundits on both sides of the aisle have got to come around to the fact that the number of disincentives for being friendly with the U.S. are rapidly increasing, and it's not longer just the radical fringes. In Latin America, where we can't even seem to hold confirmation hearings for our diplomatic appointees, it simply pays much, much more to accept unconditional aid from Venezuela's Hugo Chavez, or even strike up relationships based on credit and guns from Russia and China. In Eastern Europe, Poland and the Czech Republic stick their necks

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