why?

online poker

Thursday, April 28, 2011

Shell profits rise on oil prices


Royal Dutch Shell has announced a 41% increase in first quarter profits on the back of higher world oil prices.

The Anglo-Dutch company said profits for the first three months of the year were $6.9bn (£4.1bn) compared with $4.9bn a year ago.
"We are making good progress against our targets, to deliver a more competitive performance," said chief executive Peter Voser.
On Wednesday, rival BP reported first quarter profits of $5.5bn.
BP's profits were down slightly from the same period last year. Production in the quarter was down 11% after BP sold assets to help pay for the cost of cleaning up last year's oil spill in the Gulf of Mexico.
Production target
As well as higher oil prices, Shell said asset sales and cost saving measures had also contributed to its profitability in the first quarter.
In March, the firm set out a new $100bn investment programme to meet demand for oil and gas.
It has set a production target of 3.7 million barrels of gas and oil per day by 2014.
Shell is one of the world's major suppliers of liquefied natural gas (LNG).
The firm said it had started commercial production at its Qatargas 4 LNG facility.
As a consequence of the earthquake and tsunami in Japan, demand for LNG is expected to increase as nuclear power there is scaled back.

President Trump?

Donald Trump may or may not run for the White House, but he has already reached his preferred destination: the center of attention...."I'm Very Serious"

Photograph by Michele Asselin
By Sheelah Kolhatkar
More than anything else, Donald Trump wants you to know that he is rich.
"Look, the news is that I'm much richer than everyone thinks," Trump says, possibly for the 11th time in one afternoon. "I'm worth more than $7 billion, with hundreds of millions in cash. That's after paying off mortgages, after buying airplanes … "
Trump thrives on an audience and a foil, and today, inside his Trump World Tower offices in New York City, he has both. He's sitting behind his desk, stacked with magazines and newspaper clippings about himself, discussing his proto-Presidential campaign whose sudden momentum seems to have surprised even him. His longtime chief financial officer, Allen Weisselberg, hovers nearby with a bunch of papers: a list of assets as of June 30, 2010, and a blue-bound report by the accounting firm WeiserMazars. "Each line's a different asset," Trump murmurs, running his finger down one of the pages, which lists categories such as residential properties, commercial properties, clubs, real estate licensing deals, and the Miss Universe Pageant, plus around $245 million in cash and equivalents. Then the papers are whisked away. "Most people think I'm worth two billion. They don't know." He adds, "You know, I don't even have mortgages." It turns out that he has at least one: Documents on file with the city of New York indicate there is a $160 million mortgage on 40 Wall Street, which Trump borrowed $10 million to buy in 1996.
Trump has spent years trying to bulldoze the world into believing that he is worth a great deal more than independent analyses have confirmed. He wants the doubters and the haters and the petty critics and the other real estate people to know that not only could he do a better job than President Obama—that, if he were in charge, he would kick China's and Saudi Arabia's butts and have jobs flowing back into the U.S. within months—but that he's been goddamn successful at business.
Throughout his career's wild ups and downs, the value of Trump's holdings has been estimated anywhere from negative $295 million in 1990 (according to data released that year by the New Jersey Casino Control Commission), to $150 million to $250 million (Timothy L. O'Brien in The New York Times in 2005), to $2.7 billion (the latest Forbes ranking). Trump is so obsessed with the public perception of his wealth that he sued O'Brien for defamation in 2006, charging him with damaging his reputation and costing him business opportunities by low-balling his net worth. (He requested $5 billion in damages; the suit was later dismissed.)
Several observers—from veteran pollster Frank Luntz to House Majority Leader Eric Cantor (R-Va.) and longtime Trump friend Larry King—believe he will never actually run for office because, per King, "It's just not Donald," or because it would require that he make public his tax returns. Trump insists that isn't a factor: "I wouldn't mind doing it because I have a great company," he says, "very little leverage, lots of cash and tremendous assets." He's toyed with the notion before, having contemplated a run as a Reform Party candidate in 1999 before pulling out a few weeks after the GOP Iowa Caucus. The final test will be if he formally files with the Federal Election Commission.
"You can call up the banks," Trump continues, tapping his finger on the page. "This is cash. This isn't bulls--t, this isn't, like, ribbons. This is cash."
A woman pops her head into the room. "Senator D'Amato … " she says.
Trump grabs the phone. "Senator Alfooonse! How're you?
"Another poll just came out! I'm doin' well, huh?" Trump oozes into the handset. "Absolutely. Go ahead. You know I know what I'm doing. Hey, did you see the poll? Go ahead … Let me tell ya, Al, I'm having fun. Have you seen the polls, Al? I'm No. 1. In the worst poll I'm No. 2 …
"I have a lot of cash … " he says. "Hey Al, they came in with a building last week, a building I wanted for two years, and I said, 'Who gives a f--k?' … Right? Who cares? No, I see what you're talking about. What did Koch say? No, he's come a long way. I like the guy. Even though he sort of f--ked me.
"I'm going to the Washington correspondents' dinner. That's going to be bedlam. You'll love that one … I love you. Thanks, Senator!"
Trump hangs up the phone. "He said, 'I've never seen anything like this in my life,' " he says. " 'Everybody thinks you're gonna win.' "


Here are a few things we know about Donald Trump: He likes to brag; he's an excellent salesman and a master brander, having put his name on condos, golf clubs, watches, chocolate, ties, and dozens of other products available for purchase at Macy's and elsewhere; he exaggerates as a strategic tool and a birthright. He has learned over time that if he says something often enough and is willing to ignore evidence to the contrary, eventually people will stop bothering to challenge him on matters ranging from his net worth to unsubstantiated claims about President Obama's citizenship—and, that if they do, he can brush them aside and bluff onward, making him the perfect avatar of the truthiness age.
For the past few weeks, he has been impossible to avoid, which is the way he likes it, for just as a shark needs to move, Donald Trump needs attention. And nothing—not splashing his name on buildings, dumping older wives for younger ones, writing books, starring in a hit TV show, The Apprentice, and decades of general ostentation, bluster, and outrageousness—has whipped up the kind of frenzy that his sudden coming-out as a birther and potential Republican Presidential candidate has. "Right now, if I wanted to make three calls, I could do all three networks live within twenty minutes," Trump says. "I mean, it's CRAZY what's going on."
What might have started out as a stunt to gin up ratings as his show grinds through its 11th season has led to a drumbeat of press suggesting that Trump might be semi-serious. As several polls came out putting Trump even or ahead of Mitt Romney, a familiar sense of intoxication washed over the popularizer of the phrase "You're Fired!" Suddenly, people were calling Trump, soliciting his thoughts on world peace and the global economy: What do you think about Libya, Mr. Trump? What are you going to do, Mr. Trump? "I'm very serious," Trump says repeatedly of his pre-campaign. The season finale of The Apprentice is on May 22; he promises a decision shortly thereafter.
So far, Trump has spoken to at least five Republican strategists in his search for political advice, including Tony Fabrizio and John McLaughlin. (Fabrizio, who recently worked with former Minnesota governor Tim Pawlenty and Florida governor Rick Scott, ultimately declined to work with Trump; McLaughlin has counseled many members of Congress as well as former Presidential candidates Steve Forbes and Fred Thompson.) Trump has also laid plans for appearances in key states such as New Hampshire and Nevada, which he planned to visit on Apr. 27 and 28, South Carolina on May 19, and Iowa in June. "He's a known commodity. You've got to think beyond the man to the larger brand," says Kellyanne Conway, a Republican pollster with whom Trump has also had talks. "He just seems to be able to say things and do things that no one else can." But, she adds, "My vote is, don't beat Obama on where he was born, beat him on where he's taken this country."...more



businessweek

Thursday, April 21, 2011

Nokia market share falls but Microsoft deal confirmed

Mobile phone maker Nokia has posted better-than-expected profits for the first three months of 2011, down 1% to 344m euros (£304m).
Investors have been awaiting news of how Nokia will boost its presence in the smartphone market
But its market share fell 4% to 29% as cheaper rivals and the popularity of competitors' smartphones ate into Nokia's dominance.
Nokia also said that it had struck a long-awaited deal to develop smartphone technology with Microsoft.
Investors welcomed the news, sending Nokia shares up almost 3%.
Stephen Elop, chief executive, said: "In the first quarter, we shifted from defining our strategy to executing our strategy. On this front, I am pleased to report that we signed our definitive agreement with Microsoft and already our product design and engineering work is well underway."
The Finnish company's slow response to the smartphone threat from Apple's iPhone and the Blackberry handsets has been one of investors' key concerns.
On Wednesday Apple unveiled a 95% rise in first-quarter profits, and said it had sold a record 18.65 million iPhones during the quarter.
Consultants Strategy Analytics said that Apple had now overtaken Nokia as the world's largest handset seller in revenue terms.

Nokia v Apple (Q1)

                                                         Nokia                       Apple

Handset sales                                    108.5m                      18.6m
Average wholesale price                    $87                            $638
Handset revenues                              $9.4bn                       $11.9bn
Source: Strategy Analytics

Despite shifting more than 108.5 million handsets in the last quarter - almost six times that sold by Apple - Strategy says that the US's firms revenues from its more expensive phones far outstripped its Finnish rival's.
'Under control'
Under the Microsoft deal, Nokia will start using the US company's software on its smartphones instead of its own Symbian platform.
Nokia said the deal will enable it to cut annual costs by around 1bn euros.
Nokia's group sales rose by 9% to 10.40bn euros, while smartphone sales were up 6% at 7bn euros.
The company's key phone unit reported an operating profit margin of 9.8% for the January-March period, well ahead of analysts forecast of 8.6%.
However, Nokia said that for the full year, margins would fall to within a 6%-9% range.
"Finalisation of the agreement with Microsoft means Nokia can now focus on execution, but margin guidance underlines that difficult times lie ahead as it transitions the portfolio," said analyst Geoff Blaber from CCS Insight.
Despite the drop in Nokia's market share - the first time in a decade it has fallen below 30% - Sami Sarkamies, analyst at Nordea, said: "The first quarter was very strong, much better than expected.
"It seems the situation is under control, there were no dramatic changes," he added.


.bbc.co



When Hedge Fund Owners Invest in Sports Teams

By Katherine Burton
 it may be "a function of ego"—and it tends to send investment performance sliding

John W. Henry, founder of futures trader John W. Henry & Co., became the principal owner of the Boston Red Sox in 2002. Two years later the team won its first World Series in 86 years. Three years after that it chalked up a second championship. While the Sox were winning, the firm's assets were dwindling, falling to $319 million as of Apr. 15 from a peak of $3.4 billion in 2005.
James Pallotta, a Boston-based hedge fund manager who at his peak oversaw more than $11 billion, bought part of the Boston Celtics in December 2002. Six years later the basketball team won the National Basketball Assn. championship. In June 2009, following two years of losses, he closed his Raptor Global hedge funds.
The trend hasn't gone unnoticed by hedge fund investors. "Owning a team can be a function of ego, it is very high-profile, and it could prove to be a distraction," says Brad R. Balter, head of Boston-based Balter Capital Management, which farms out money to hedge funds. "As an investor, I have to consider that." Words to bear in mind for Steven A. Cohen, the billionaire hedge fund manager who is bidding for a minority stake in the New York Mets.
Of course, there are plenty of reasons hedge fund managers lose money, and most have to do with unexpected events like, say, a global financial crisis. The average hedge fund tumbled almost 20 percent in 2008, mostly in the last quarter of the year, following the bankruptcy of Lehman Brothers.
Investors such as Balter are watchful for signs fund managers have become less attentive to their day jobs. "We don't begrudge managers getting rich, but we want to invest with people who are motivated and are concentrating full-time on managing money," says Brett H. Barth, a partner at New York-based BBR Partners, which invests in hedge funds.
Cohen, 54, oversees $12 billion at his SAC Capital Advisors in Stamford, Conn. A Mets fan since his childhood in Great Neck, N.Y., Cohen is competing against at least two other groups, including one formed by hedge fund manager Anthony Scaramucci, for a stake of 25 percent to 49 percent of the team, which hasn't won a World Series since 1986. The Mets' owners, the Wilpon family, are fighting a $1 billion lawsuit filed by the trustee trying to recover money for victims of the Ponzi scheme created by Bernard Madoff.
Cohen, who declined to comment, has been enjoying his status as a billionaire for years. His art collection boasts works by Van Gogh, Picasso, and Warhol, and his Connecticut mansion has a two-hole golf course and a basketball court. So far his lifestyle hasn't hurt his returns, which have averaged about 30 percent a year over almost two decades, one of the best records in the industry.
For a billionaire fund manager, buying a stake in a sports team might be about "fulfilling a childhood fantasy, showing the world you've made it, or buying out of boredom," says Brad Klontz, a financial psychologist and associate research professor in personal financial planning at Kansas State University in Manhattan, Kan.
In October, Henry, 61, added Liverpool FC, the English soccer club, to a sports portfolio that also once included the Florida Marlins baseball team. Henry's funds buy and sell based on computer models that haven't changed dramatically since Henry designed them in the 1970s. That means Henry doesn't need to spend his days glued to trading screens, says Kenneth Webster, the firm's president. Webster says returns have picked up since 2007, after two years of underperformance.
Pallotta, 53, has also added to his sports holdings, joining a group that bought AS Roma, an Italian soccer club, last week. Pallotta, who started Raptor Global in October 1993, had returned about 19 percent on average annually until 2007. That year his funds tumbled 8.5 percent, followed by a 20 percent drop in 2008. He's now running a new stock fund, Raptor Evolution. "Every investment helps me in what we are doing—our network is our business," says Pallotta, who adds that his investments in the teams are passive. His minority stake in the Celtics involves going to two board meetings a year—after market hours. "It's not a lack of focus," he says. "It's absolutely the opposite."
For Philip Falcone, 48, head of New York-based Harbinger Capital Partners, his interest in owning a team predates his hedge fund career. He played professional hockey in Malmö, Sweden, for a year, until a leg injury sent him to Wall Street. He became a billionaire after making a profitable bet on the collapse of the subprime loan market in 2007 and started spending his money immediately.
By February 2008, Falcone had bought Penthouse publisher Bob Guccione's 27-room townhouse on Manhattan's Upper East Side for $49 million. He became a noncontrolling partner of the National Hockey League's Minnesota Wild in April of that year. His fund assets peaked two months later at $26 billion. He now manages about $7 billion. Falcone also declined to comment.
Not all managers have seen their performance suffer after investing in sports. David Tepper, 53, who runs the $16 billion Appaloosa Management in Short Hills, N.J., bought a 5 percent stake in the Pittsburgh Steelers in September 2009. That year his main fund climbed 130 percent. His fund returned about 30 percent last year and is up 10 percent so far this year—meaning the Steelers haven't kept him from scoring.


businessweek


Air France Black Box Search Harnesses Hollywood for Crash Clues


By Andrea Rothman and Matthew Campbell
April 21 (Bloomberg) -- Investigators seeking to explain why Air France flight 447 plunged into the night ocean two years ago will rely on gear pioneered by telecommunications and oil companies as well as a Hollywood director to unlock the mystery.
The wreckage of the Airbus SAS A330 jet was discovered this month 3,900 meters (12,800 feet) deep in the Atlantic Ocean off the coast of Brazil after multiple searches. Few aircraft salvage missions have probed the same depth, where the sea is perfectly black, temperatures approach freezing and water pressure is equal to the weight of a car on a postage stamp.
Diving deeper than the Titanic’s final resting place, a robot tethered to a surface ship will sift through the aircraft debris in search of the two flight recorders bolted inside the tail of the fuselage. Their data promises the best chance yet to explain the crash, the deadliest in Air France’s history. Complicating the mission is the presence of numerous bodies, some still strapped into their seats and preserved by the cold water and lack of oxygen or light.
“At that depth, it is pitch black, and the difficulty is knowing where you are while keeping track of things,” said Dave Gallo, director of special projects at the Woods Hole Oceanographic Research Institute in Falmouth, Massachusetts, whose robots helped locate and map the wreckage. “It’s a question of operational skill.”
No Survivors
The Airbus disappeared en route to Paris from Rio De Janeiro on June 1, 2009, leaving no survivors among the 228 aboard. While some fragments and bodies were recovered from the surface of the sea, most of the jet remained missing until this month. The data recorders are built to withstand submersion and extreme impact, though until retrieved there is no certainty the data they stored will be readable.
The expedition will gather at the port in Dakar in Senegal tomorrow, before traversing the Atlantic on the Ile de Sein vessel to the location of the aircraft, about 435 nautical miles off the coast of Brazil.
French phone-equipment maker Alcatel-Lucent SA is providing the 140-meter ship, which normally lays deep-sea cables. Aboard will be 70 people, including members of the French BEA air accident authority, investigators from the U.K. and Brazil, experts from Airbus and Air France, as well as one psychologist. Family members of the victims were not permitted aboard.
Robot Submarines
Underwater engineering company Phoenix International Holdings Inc. is sending one of its two “Remora” robotic submarines, or ROVs, equipped with high-resolution cameras and two manipulator arms. The basket on the ROV can recover as much as 200 kilograms (440 pounds) of debris in a single mission.
“There are about six to eight ROVs in the world capable of descending as deep” as the Remora, said Tim Janaitis, business development manager at Phoenix, who spoke from Largo, Maryland. Typically, the robot’s missions include work on deep-sea oil drilling, and a recent descent took the vehicle to the Titanic wreck in the northern Atlantic, Janaitis said.
The search for the remains of the doomed ocean liner in the mid 1980s, and the 1997 blockbuster movie directed by James Cameron helped advance deep-sea technology, spawning high- resolution cameras and robots that can scour through wrecks.
Nazi Battleship
Following the success of the Titanic movie, which won 11 Academy Awards and cost about $200 million to make, Cameron embarked on an underwater expedition to Nazi battleship Bismarck, which sank in the Atlantic in 1941.
“Stuff like that is enough at times to help keep research going,” said Robert Jensen, chief executive officer of Kenyon International Emergency Services, a Houston-based company that helps airlines handle disasters. “Look at what they spent on the Cameron movies. He went down on several submersibles to look at ships, to recreate as realistically as possible what happened.”
The Remora robot can work as far down as 6,000 meters. To ensure steady operation, a team of nine Phoenix experts will operate the 900-kilogram sub from the ship using large video monitors to track its progress. Every movement of the vessel at the surface is translated to the Remora’s umbilical cable with a delay, said Brennan Phillips, manager of ROV operations at the University of Rhode Island in the U.S.
Delayed Reaction
“If the ship moves, it takes half an hour for the vehicle to feel it,” he said. “You need an extremely stable ship.”
Of the almost 100,000 photos taken of the wreck and surrounding area, BEA publicized several black-and-white images of the landing gear, an engine, a wing and parts of the fuselage. While the black boxes have not been spotted, the robot has located the part of the tail that normally houses the recorders. Investigators withheld images of bodies and made them available only to researchers involved in the mission. For some, the sight was too much to bear.
“There were many bodies, and our people initially said they would not like to participate in any such recovery operation,” said Peter Herzig, director of the Leibnitz Institute of Marine Sciences in Kiel, northern Germany, whose Remus 6000 robot sub was one of three that located the wreck.
Team members later changed their minds, though in the end, Herzig’s group wasn’t asked to participate, he said.
Recovering Victims
Should the recorders be found, they will be pried from the wreck, lifted aboard the Ile de Sein and immediately placed under seal, before being transported by a French Navy vessel to a French port. From there, they will be sent by air to the BEA under the responsibility of a judicial police officer.
Recovering the victims is a more complex and contentious task. Only 51 bodies, including the pilot, were recovered from the ocean surface in the weeks after the crash.
Nelson Marinho, who leads a group of victims’ relatives, said not all families want to see corpses brought up, though they recognize the obligation to present forensic evidence for a criminal probe. A French prosecutor is pursuing allegations of manslaughter against both Airbus and Air France, and autopsies may help answer questions such as whether passengers were still alive when the plane sank. BEA said all decisions concerning human remains will be made by France’s Justice Department.
‘Worst Feeling’
“The worst feeling, for us, is the risk of even more damage to these corpses,” Marinho said. “French officials want to transport them to France, but we want to bring them directly to Brazil.” Among the victims were 58 passengers from Brazil, 61 from France, 26 from Germany, and other nationalities including travelers from China and South Korea.
Past aircraft salvage missions have managed to recover the bodies of victims. The U.S. National Transportation Safety Board brought up all the bodies from TWA flight 800, which crashed off Long Island in 1996, and EgyptAir 990, which went down 60 miles from Nantucket in 1999, former director Jim Hall said.
“I think as human beings, it’s the humane practice, and it would be a disservice to family members by the airline and regulators not to recover them,” he said.
The greatest technical challenge will remain operating at an extreme depth. Only one past air crash has forced salvage teams to dive deeper. The wreckage and black boxes of a South African Airways Boeing 747 that disappeared near Mauritius in 1987 were located 14 months later under 14,000 feet of water.
“It’s only relatively recent that we even have the technology to consider these kind of recoveries,” said Paul Hayes, director of safety at London-based aviation consultant Ascend Worldwide Ltd. “And it sounds simplistic, but I think we tend to forget how vast the oceans are.”


 

Sunday, April 10, 2011

Car industry. Japan. Nissan

Japan parts shortage hits Nissan 

Nissan extends Easter closure in UK due to parts delays.

Carmaker Nissan is to suspend production in the UK for three days due to parts shortages caused by the Japan earthquake. 


The stoppage at its Sunderland plant is in addition to the planned Easter closure at the end of the month.
On Wednesday, Honda said that it would halve production at its Swindon plant from next week.
The car and the electronics industries are expected to be most affected by last month's disaster in Japan.
Temporary stoppage Nissan said it would try to minimise the impact on production and on its 5,000 staff at the plant, by substituting non-production days that had already been planned for later in the year.
"Demand for all Sunderland-produced models remains high, and once the normal delivery of components has been re-established, the plant will work to recover any lost volume as quickly as possible," said the manufacturer.
In its latest earthquake update, Nissan said it was able to resume normal operations at all of its Japanese plants except for the Iwaki Engine Plant, which will only restart in mid-April.
However, the previous interruption of production still leaves the company short of some inventories, which is affecting car assembly.


bbc.co


Pay no Taxes. How?

Eleven shelters, dodges, and rolls—all perfectly legal—used by America's wealthiest people


By Jesse Drucker
For the well-off, this could be the best tax day since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts will remain at or near historically low levels for at least the next two years. That's thanks in part to legislation passed in December 2010 by the 111th Congress and signed by President Barack Obama.
"This is clearly far and away the most generous tax situation that's existed," says Gregory D. Singer, a national managing director of the wealth management group at AllianceBernstein (AB) in New York. "It's a once-in-a-lifetime opportunity."
 For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent in 1995 to just under 17 percent in 2007, according to the IRS. And for the approximately 1.4 million people who make up the top 1 percent of taxpayers, the effective federal income tax rate dropped from 29 percent to 23 percent in 2008. It may seem too fantastic to be true, but the top 400 end up paying a lower rate than the next 1,399,600 or so.
That's not just good luck. It's often the result of hard work, as suggested by some of the strategies in the following pages. Much of the top 400's income is from dividends and capital gains, generated by everything from appreciated real estate—yes, there is some left—to stocks and the sale of family businesses. As Warren Buffett likes to point out, since most of his income is from dividends, his tax rate is less than that of the people who clean his office.
The true effective rate for multimillionaires is actually far lower than that indicated by official government statistics. That's because those figures fail to include the additional income that's generated by many sophisticated tax-avoidance strategies. Several of those techniques involve some variation of complicated borrowings that never get repaid, netting the beneficiaries hundreds of millions in tax-free cash. From 2003 to 2008, for example, Los Angeles Dodgers owner and real estate developer Frank H. McCourt Jr. paid no federal or state regular income taxes, as stated in court records dug up by the Los Angeles Times. Developers such as McCourt, according to a declaration in his divorce proceeding, "typically fund their lifestyle through lines of credit and loan proceeds secured by their assets while paying little or no personal income taxes." A spokesman for McCourt said he availed himself of a tax code provision at the time that permitted purchasers of sports franchises to defer income taxes.
For those who can afford a shrewd accountant or attorney, our era is rife with opportunity to avoid, or at least defer, tax bills, according to tax specialists and public records. It's limited only by the boundaries of taste, creativity, and the ability to understand some very complex shelters.
Jennifer Daniel



businessweek


Saturday, April 2, 2011

Smoke rises from the centre of Abidjan

 Ivory Coast: Rival forces battle for control of Abidjan

Heavy fighting is taking place in Ivory Coast's main city, Abidjan, for a third day as rival forces battle for power.
Fighters loyal to internationally-recognised president Alassane Ouattara battled for control of the presidential palace and barracks still loyal to incumbent Laurent Gbagbo.
Mr Gbagbo's whereabouts are unknown.
In the country's west, at least 800 people are reported to have been killed earlier this week in Duekoue as a result of inter-communal violence.
The battle for Abidjan remains fierce, with heavy fighting reported on Saturday around the Agban military base in the centre of the city.
But the situation inside the city is unclear, with some reports that soldiers defending the base were fighting amongst themselves.
State television station RTI, appears to be back under the control of Gbagbo supporters after being briefly seized by their rivals.
One soldier, accompanied by a dozen members of Mr Gbagbo's Defence and Security Forces (FDS), read a statement on the channel calling for the mobilisation of troops to protect state institutions.
"The FDS, wishing to reaffirm their determination, to ensure their sovereign duty to protect people, property and institutions of the Republic of Ivory Coast" calls for "all the staff of the armed forces" to join five units located in Abidjan.
Residents of Abidjan say they are too afraid to leave their homes as the fighting continues. Many report running out of food, with all shops closed and widespread looting.
The BBC's Valerie Bony in Abidjan says: "In all districts of Abidjan there is sporadic gunfire. There is a lot of looting going in the city, for example on Boulevard Valery Giscard d'Estaing, where shops and houses have been looted by youths who are taking advantage of the situation."
She also says young, pro-Gbagbo supporters in several districts of Abdidjan have been armed by pro-Gbagbo supporters, according to witnesses.
Mr Ouattara was internationally recognised as president after winning a run-off vote in November, but Mr Gbagbo also claimed victory and refused to leave office.
Duekoue 'massacre'
Damaged houses in Duekoue, Ivory Coast (29 March 2011) Tens of thousands of women, men and children have fled fighting in Duekoue since Monday
Staff of the International Committee of the Red Cross (ICRC), who visited the western city of Duekoue, said the scale and brutality of the killings were shocking.
The city was captured by fighters supporting Mr Ouattara this week and has seen fierce fighting.
Aid agencies have warned repeatedly that civilians were being subjected to major violence.
The ICRC said delegates and volunteers from the Ivorian Red Cross had visited the city on Thursday and Friday to gather evidence of the killings, which are believed to have taken place on Tuesday.
Tens of thousands of women, men and children had fled fighting in Duekoue since Monday, they said.
It is not clear whether Mr Ouattara's forces were involved in the killings.
The United Nations human rights office says it has received reports of major human rights violations committed by both sides in the conflict.
West Africa's second biggest economy has been brought to its knees by the conflict, which has sent global cocoa prices spiralling upwards. Ivory Coast is the world's largest cocoa producer.
Map
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Nigeria Delays Parliamentary Vote, Electoral Commission Says

By Elisha Bala-Gbogbo and Dulue Mbachu
(Updates with comment by election monitor in fifth paragraph.)
April 2 (Bloomberg) -- Nigeria, Africa’s top oil producer, delayed legislative elections scheduled to start today until April 4 due to the late arrival of voting materials, the head of the electoral commission said.
“There’s insufficient time for voting materials to reach all the polling centers,” Attahiru Jega, head of the Independent National Electoral Commission, told reporters today in Abuja, the capital. Because the ballot stations that had opened were still accrediting voters, “the stoppage hasn’t affected voting.”
At stake in the national legislative vote in Africa’s top oil producer are 109 senate seats and 360 seats in the House of Representatives. The main opposition parties, Action Congress of Nigeria and the Congress for Progressive Change, aim to cut the majority the People’s Democratic Party won in both houses four years ago by saying it failed to reduce poverty, corruption and violence.
“In the circumstances it was best to postpone,” Clement Nwankwo, executive director of the Abuja-based Policy and Legal Advocacy Centre, which is monitoring the electoral process, said in a phone interview today from Abuja. “It would’ve been more grievous if the elections had gone on because it would’ve been inconclusive.”
More than 50 people have died in election-related violence since July, according to Amnesty International, while sectarian clashes in the north have claimed the lives of at least 200 since Dec. 24. In a March 3 attack, at least 10 people died when explosives were hurled at a rally of President Goodluck Jonathan’s PDP in the town of Suleja.
Oil Exporter
Nigeria is the fifth-largest source of U.S. oil imports. Hague-based Royal Dutch Shell Plc, Irving, Texas-based Exxon Mobil Corp., Chevron Corp. of San Ramon, California, Total SA of France and Italy’s Eni SpA run joint ventures with the state- owned Nigerian National Petroleum Corp. that pump more than 90 percent of the West African nation’s oil.
Since Nigeria’s return to civilian government in 1999 after 15 years of military rule, the PDP has presided over the spending of more than $300 billion in oil export revenue. During that time income disparities have widened, with 54 percent of the population living on less than a dollar a day, about 22 million citizens, illiterate, and maternal mortality of 800 per 100,000 live births, a rate among the highest in the world, according to the United Nations Development Programme.
The vote is a prelude to the presidential contest next weekthat pits Jonathan against 18 rivals, including former military ruler Muhammadu Buhari and the ex-head of the anti- graft agency, Nuhu Ribadu, who is the candidate of the Action Congress of Nigeria. A week after that, voters choose the governors and legislatures of Nigeria’s 36 states.
Violence
The concern about sectarian and election-related violence has sparked domestic demand for foreign currency, central bank Governor Lamido Sanusi said in a March 15 interview in Abuja. That has weakened the naira, which reached an 18-month low against the dollar on March 17.
“People want to see a smooth transition, a free and fair election before they bring back the money,” he said.
While an armed insurgency in the Niger River delta that cut more than 28 percent of the nation’s oil output from 2006 to 2009 remains relatively quiet, parts of the north have been hit by a mounting campaign of violence by Islamic militants inspired by Afghanistan’s Taliban movement.
Elections in 2003 and 2007 were marred by violence, voter intimidation and the stuffing of ballot boxes.
Jonathan pledged a more transparent vote this year and won plaudits by appointing Jega, a respected academic, to head the electoral commission.