Thursday, April 24, 2014

Ivory Coast ex-rebel profiting from banned diamond trade

(Reuters) - A senior Ivory Coast army officer is breaking a diamond embargo and may be using profits to buy arms, U.N. experts have found, dealing a potentially embarrassing blow to government efforts to have the ban lifted.

Ivory Coast is the only country in the world still subject to a U.N.-imposed ban on diamond exports but it received a clean bill of health in November from the Kimberley Process - the body tasked with preventing the sale of so called "blood diamonds" from fuelling armed conflicts.
The West African country, emerging from a decade-long crisis that culminated in a brief 2011 war, is pressing the U.N. Security Council to end the embargo, which was put in place nine years ago in the wake of an initial 2002-2003 civil war.

But U.N. experts, charged with monitoring compliance with a sanctions regime including an arms embargo, said diamonds are being exported from Ivory Coast in breach of the ban.
Before the embargo, Ivory Coast produced about 300,000 carats of diamond a year, worth around $25 million, according to industry experts. Ivorian authorities have said they would like to relaunch the sector to fund post-war reconstruction.




http://uk.reuters.com/article/2014/04/22/uk-ivorycoast-un-diamonds-idUKBREA3L1IV20140422

Canadian Pacific Railway Limited - CP.t

Canadian Pacific Railway Limited - CP.t was founded in 1881 to physically unite Canada and Canadians from coast to coast.

Canadian Pacific spun out its five subsidiaries into separate companies in late 2001. CPR's 14,000-mile network extends from the Port of Vancouver to The Port of Montreal, and to the U.S. industrial centers of Chicago, Newark, Philadelphia, Washington, New York City and Buffalo.



On April 22, 2014 the company released NUMBERS

"Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced record Q1 2014 financial results.

Reported net income in the first quarter was $254 million, or $1.44 per diluted share, versus $217 million, or $1.24 per share, in the first quarter of 2013. This represents a 16 per cent year-over year improvement in earnings per share.

FIRST-QUARTER 2014 RESULTS COMPARED WITH FIRST-QUARTER 2013

Total revenues were $1,509 million, an increase of 1 per cent
Operating expenses were $1,086 million, a decrease of 4 per cent
Operating income was $423 million, an increase of 17 per cent
Operating ratio was 72.0 per cent, a 380 basis point improvement
"CP delivered solid results in a period that was severely impacted by extraordinary cold and severe winter weather conditions,” said E. Hunter Harrison, Chief Executive Officer. “In the face of such difficult operating conditions, I am particularly proud of the women and men of CP who remained on the job 24/7, to keep the railway operating.”

“Despite a slow start to the year and the reduced capacity which limited our ability to meet strong customer demand, we still have the utmost confidence in our ability to achieve our financial targets for 2014.”
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http://pennystockjournal.blogspot.com/2014/04/canadian-pacific-railway-limited-cpt.html


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Wednesday, April 23, 2014

The Cheapside Hoard - London's Lost Jewels

The Museum of London is concluding a major exhibition investigating the secrets of the Cheapside Hoard.
The Cheapside Hoard is a hoard of late 16th and early 17th century jewellery discovered by workmen using a pickaxe to excavate in a cellar near Cheapside in London in 1912.

They found a buried wooden box containing over 400 pieces of Elizabethan and Jacobean jewellery, including rings, brooches and chains, with bright coloured gemstones and enamelled settings.
The hoard of almost 500 pieces was a 17th-century goldsmith's stock – worth a king's ransom then and priceless now.

"Nothing in the world comes close," said Museum of London curator Hazel Forsyth, who has spent years studying the brooches and necklaces, rings and chains, pearls and rubies, scent bottles and fan holders, two carved gems which date back 1,300 years to Byzantium – and a watch set into a hollow carved out of one stupendous emerald which was originally the size of an apple.



Gold bow pendant set with rose-cut and step-cut foil-backed rubies and table-cut diamonds

Gold and enamel pendant set with two sapphires and an irregular polished spinel.


http://www.museumoflondon.org.uk/london-wall/Whats-on/Exhibitions-Displays/Londons-Lost-Jewels/Default.htm