• Burberry 05.01.2012 No Comments

    BEIJING China says new U.S. sanctions targeting Iran’s central bank and its ability to sell petroleum abroad won’t affect its business dealings with Tehran.

    Foreign Ministry spokesman Hong Lei said at a briefing Friday that China’s business dealings with Iran were normal and transparent and did not violate any U.N. Security Council resolutions.

    Hong also reiterated China’s skepticism over sanctions’ effectiveness in resolving the dispute over Iran’s nuclear program and said Beijing opposed unilateral sanctions that go beyond measures taken by the Security Council.

    China is a major customer for Iranian oil and gas, and Chinese businesses operate a raft of projects in Iran,wholesale Ed hardy jeans, including selling telecommunications equipment.

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  • Lacoste 05.01.2012 No Comments

    PROVIDENCE, R.I. A man who claimed Brown University kicked him out and failed to notify authorities when the daughter of a major donor falsely accused him of rape reached an agreement Wednesday with the woman’s family, resulting in the dismissal of his federal lawsuit against the Ivy League college.

    The agreement was reached in U.S. District Court in Providence by William R. McCormick III, 24, and his parents; his accuser and her father; and Brown.

    Attorneys for McCormick and his accuser released a statement saying they “have resolved all of the disputes between them … to their mutual satisfaction.” They declined to comment further.

    The agreement says McCormick and his parents are barred from suing again.

    Brown spokeswoman Marisa Quinn says the school is not a part of the settlement and did not participate in negotiations. She said that she did not know the details of the agreement but that Brown acted appropriately.

    Michael Burch, a former assistant wrestling coach at Brown who was assigned to represent McCormick during the university disciplinary process when he was accused in 2006,Replica Abercrombie shoes, said the outcome was a victory for McCormick.

    “I’m proud and I’m happy for him that he fought so long against these influences and forces,” Burch said. He criticized Brown, which he said has not learned from this situation.

    “Brown will always put its image and money first,” Burch said.

    The McCormicks sued in 2009 after, they say, university administrators gave William McCormick III a one-way plane ticket home to Wisconsin when he was accused of rape in autumn 2006.

    The student accused McCormick of stalking and harassing her when they were freshmen that September. He says he was abruptly removed from campus after the student later accused him of raping her in her dorm room while she was trying to study.

    McCormick alleged the school accepted the rape allegations as true without doing an investigation. Brown didn’t refer the matter to police and instead handled it internally, the lawsuit says.

    The lawsuit says the father of the accuser is a Brown alumnus who has “donated and raised very substantial sums of money.” It says he was in regular contact about the allegations with administrators and contacted university President Ruth Simmons directly.

    McCormick has maintained he did nothing wrong but agreed to withdraw from the school after a confidential agreement with the accuser’s family. The lawsuit says he signed the contract under duress.

    Under that agreement, the accuser agreed not to press charges or take other legal action against McCormick. The woman graduated from Brown in 2010.

    McCormick, a champion high school wrestler from Waukesha, Wis., was at Brown on a full scholarship. After leaving the school, he enrolled at Bucknell University in Lewisburg, Pa., where he graduated in the spring.

    The Associated Press generally does not identify people who say they were sexually assaulted, and is not naming the father to avoid identifying the woman.

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  • (Reuters) Contract manufacturer Jabil Circuit Inc (JBL.N) posted quarterly revenue below analysts’ estimates as its large customers battled inventory pile-ups, and sees lower revenue in the second quarter from its high-velocity segment which services digital products.

    Shares of the company were down 4 percent at $19.17 in extended trade on Tuesday.

    Jabil, which supplies to Cisco Systems (CSCO.O), Hewlett-Packard (HPQ.N), IBM Corp (IBM.N) and Nokia Corp (NOK1V.HE), sees a 14 percent decline in its high velocity segment (HVS), which brings in more than one-thirds of its revenue.

    The company, which competes with Flextronics International Ltd (FLEX.O) and Sanmina-SCI Corp (SANM.O), forecast second-quarter core earnings of 52-62 cents per share on revenue of $4-$4.2 billion.

    Analysts on average were expecting earnings of 59 cents per share on revenue of $4.23 billion, according to Thomson Reuters I/B/E/S.

    The company, which reduced exposure to its mobility handset and TV set displays businesses in the HVS in the first quarter, said the segment will see some impact from the Thailand floods.

    “The Chinese new year, fewer working days in the (second)quarter, and there will be some impact in our high velocity business area related to set top boxes due to the Thailand flooding.” Chief Executive Timothy Main said on a call with analysts.

    The HVS provides module design, manufacturing,Inflatable Jumpers, and repair services for digital home and office products like set-top boxes, printers and keyboards.

    Jabil’s first-quarter revenue fell as inventory adjustments by some large customers hurt its enterprise and infrastructure business.

    First-quarter net income rose to $112.9 million, or 54 cents per share, from $106.7 million, or 49 cents per share, a year ago.

    The company’s core earnings were 65 cents per share.

    Revenue for the quarter rose to $4.3 billion from $4.1 billion a year ago.

    Analysts, on average, expected first-quarter earnings of 65 cents per share on revenue of $4.41 billion, according to Thomson Reuters I/B/E/S.

    (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Viraj Nair)

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