Important news from Gertude


U.N. carbon credits hit new all-time low

The market has been pressured by record issuance of credits this year in the face of a sluggish global economy.A record 254 million CERs have been awarded this year so far, well above the 132 million awarded in the whole of 2010 and 123 million in 2009.

REFILE-LVMH, HNA, Middle East fund to bid for India DLF’s Amanresorts-sources

DLF declined to comment when contacted by Reuters.DLF has asked for six final bids in a process managed by Goldman Sachs and Citigroup , which is expected to be completed in a month’s time and could fetch at least $400 million.

CSM says break-up talks would be inappropriate

Weak consumer spending and higher raw material costs have forced CSM into restructuring.It is targeting a 50 million euro cost-cutting programme, of which 30 million euros should be realised in 2012.ID:nL5E7LA0SY]

UPDATE 1-PetSmart raises Q3 and FY profit outlook

* Sees Q3 same store sales up 5.5-6 percentOct 13 (Reuters) - PetSmart Inc raised its full-year earnings forecast for the second time in two months, citing improved same-store sales trends.The Phoenix, Arizona-based company now expects to earn $2.46 to $2.52 a share, compared with its previous forecast of $2.40 to $2.48 a share.For the third quarter, the company expects to earn 46-48 cents a share compared with the previous outlook of 41-45 cents a share.Analysts, on average, were expecting the company to post a profit of $2.46 a share for the full-year and 45 cents a share for the third quarter, according to Thomson Reuters I/B/E/S.The pet retailer also raised its third-quarter comparable sales expectations to 5.5-6 percent from 3-4 percent earlier.Last week, analysts at Goldman Sachs downgraded PetSmart citing sluggish trends in consumer disposable income.Shares of PetSmart closed at $44.04 on Wednesday on Nasdaq.

UniCredit BA open to E. Europe divestments - paper

He reiterated that expansion plans for Hungary were on hold after the country let borrowers repay foreign-currency loans at below-market rates, forcing losses on banks there.Bank Austria continued to pursue growth opportunities in key markets including Turkey, Russia and Poland, he said.Bank Austria was better positioned in the region than rival Erste Group Bank , which said this week it could lose up to 800 million euros ($1.1 billion) this year after big writedowns.”We already wrote off 800 million euros in all for Kazakhstan. We are less engaged in markets like Hungary or Romania,” Papa said. “We did not force Swiss franc loans. We do not have a secret formula. We are just very conservative.”He dismissed speculation the Italian banking group could sell its central and eastern European arm, which is market leader in the region.”This is nonsense. Perhaps this is wishful thinking from rivals. Eastern Europe is a cornerstone, a growth motor for the group. It would be completely irrational to sell something that produces such good results.” ($1 = 0.733 euro)

Wall St Journal Europe publisher quits over ethics

Dow Jones said Langhoff had ultimate responsibility and opted to resign.”We no longer have a relationship with ELP. Because Dow Jones has zero tolerance for even the appearance of a breach of ethical standards,” Dow Jones said in a statement.It said the paper has posted a clarification on two WSJ Europe Special Report articles related to the matter.The clarification says that the articles were written in connection with a now-expired agreement between the Circulation Department of The Wall Street Journal Europe and Executive Learning Partnership that wasn’t disclosed to readers.A Dow Jones spokeswoman did not immediately respond to requests for further details.News Corp and Dow Jones are especially sensitive to any appearance of impropriety or ethical missteps following the fallout from the phone hacking at its UK tabloid News of the World, which was closed down in July.Langhoff, who became publisher of WSJ Europe in January 2009, based in London, had previously been the chief executive of newspaper publisher Ottaway.Dow Jones is a competitor to Thomson Reuters .