DETROIT (Reuters) - Chrysler Group LLC on Tuesday Paid back $ 7.6 Billions in U.S. and Canadian Government bailout loans from ITS 2009, a move That allow the U.S. automaker to distance Itself From an unpopular bailout and deepen ties icts With Italian automaker Fiat SpA.

Chrysler Said It Had made payments of $ 5.9 one billion to the U.S. Treasury and $ 1.7 one billion To The Government of Canada and Ontario to loans repaid Received it in June 2009.

The repayment puts Chrysler Financial is Firmer ground and Draw It Closer to Fiat, investors and bankers Two goals Have Said Would make Chrysler more attractive year in initial public offering this year That Could gold come next.

The automaker Said It repaid loans in full The Original, More Than Six Years ahead of schedule.Under the original terms, Chrysler HAD Until 2017 to The Debt repaid.

"Paying Back the loans, Along With The Financial Community&&9;s Investment In Our Refinancing packages, DM Another Step in the company have a competitive strength Returning in the Global Automotive Industry," Chrysler Chief Executive Sergio Marchionne in a statement Said.

In London on Tuesday, President Barack Obama Called The pay back a "significant milestone" and a sign the U.S. Auto Industry Recovering IS.

Chrysler swapped out Government Debt With cheaper debt from institutional investors. The Company Does not Have Any debt is less icts books, But It Said The Refinancing Would it save $ 350 million annually Estimated year in interest has dépenses.

Chrysler Paid more than $ 1.2 billion in interest on ITS Debts in 2010.Marchionne&&9;s Frustration With The terms de fait loans Seemed to bubble over Earlier this year Them When He denounced as "shyster loans.

Marchionne, Fiat&&9;s Who est aussi CEO, Was Set to APPEAR at a Chrysler assembly plant in Sterling Heights, Michigan, on Tuesday afternoon to express thanks to The Governments for Their Financial Support. Ron Bloom, The Obama administration&&9;s point man on self restructuration, and General Holiefield, head of the United Auto Workers union&&9;s Chrysler department, aussi Were Scheduled to APPEAR.

However, Chrysler has not ended Completely Government Involvement.The Treasury Said It Continued to hold A 6.6 percent common equity stake in Chrysler, But It Did Not Fully expect to recover icts Remaining Outstanding investment of $ 1.9 Billions in the automaker.

WALL STREET&&9;S FAITH

Yet Chrysler&&9;s Ability to pull off a deal at All is a sign of Wall Street&&9;s Renewed Faith in the company, Which left for dead WAS Nearly Two years ago at The Heights of The Financial Crisis.

"When we did" this deal back in 2009, WE Could Have Borrowed a buck from a 7-Eleven store - the banking system shut WAS, "Marchionne Said Earlier this year small personal loans.

A sharp drop in auto sales Pushed The Auburn Hills, Michigan-based company to the Brink of collapse in 2009 Before icts federal bailout.

Treasury Officials Were Divided we INITIALLY Saving the company, ultimately aim Decided to prop it up to preserve jobs.Chrysler emerged from bankruptcy Nearly Two years ago Under Fiat&&9;s management.

Was a central figure Marchionne Laying the groundwork in pour la Chrysler deal in 2009. He Refused To Have Any Fiat put up cash for Chrysler.

Instead, the Treasury devised a series of Test That Allowed Fiat to raise stake icts. Over time, Fiat Cdn Increase icts stake to 76 percent, According to a recent Regulatory filing.

As a result of loan repayment The Fiat&&9;s stake rose to 46 percent. This puts Fiat Within Striking Distance of icts 51 percent goal in 2011. Once Developer has Chrysler vehicle That gets 40 miles per gallon was Fiat platform - a development Expected In The Fourth Quarter - Fiat CAN go to 51 percent.

CHRYSLER FIAT-INTEGRATION

Marchionne Fiat&&9;s Canon aussi bolster earnings by moving to integrate ITS Quickly With Chrysler&&9;s operations, analysts said.

Chrysler Generate "structurally stronger" Profits Than Fiat, Which subsequently assembled Heavily on Brazil, Cheuvreux analyst Bruno Lapierre wrote in a note.

Bernstein Research analyst Max Warburton Said There Was Obvious little commonality Between Fiat&&9;s production of small cars in Italy and Poland&&9;s and Chrysler pickups in Michigan and Mexico.

"Marchionne Goal Seems Determined to make this work and SI companies together Pushing the Far Faster Than Any previous example of M & A," Warburton Said in a May 19 research note.

Chrysler&&9;s lineup, Which Is Heavily skewed Toward pickup trucks, minivans and SUVs, Remains a Concern for investors at a time When pickup sales are faltering. In the first quarter, Chrysler&&9;s U.S. market share 9.1 percent WAS, tracking below-the 10 percent goal for the Year.

In addition, upcoming meeting federal fuel economy standard IS Expected To Be A Challenge for The Company.Funds From The Department of Energy Would Help the Meet Those company standards.

"Chrysler is Not fixed yet," Warburton said. "It Is Goal Clearly in a Much Better Than We Could Have place guessed 18 months ago."

(Reporting by Ben Klayman in Detroit and Deepa Seetharaman in Chattanooga, Tennessee; editing by John Wallace and Andre Grenon)

Chrysler repaid $ 7.6 billion U.S., Canada loans

MADRID - Tens of Thousands of Demonstrators across Spain Continued sit-ins and Other protests on Sunday against-the-ESTABLISHED Political Parties, regional and municipal elections overshadowing That Were Expected to result in a defeat for The governing Socialist Party.

Demonstrators Gathered in the Square of Spanish Cities Throughout The weekend, Even After a Ban Against Such protests Went Into Effect at Midnight Friday. Fueling Their anger Is The Perception That Politicians Have failed to ease Economic Hardships That Many residents are facing. The Unemployment Rate Is 21 percent in Spain, More Than Twice the European average.

Beyond Economic Complaints, The Protesters are seeking "An End to Political Corruption and year overhaul of Spain&&9;s electoral structure, notably by doing away With The Systems in Which candidates are selected by The Parts Internally Before Rather Than Being election year Chosen by Voters Directly.Demonstrators are calling for a aussi cut in Military Spending, The Closing of nuclear power plants & the abolishment of Some Laws, like recent legislation Aimed at Punishing digital piracy.

The protests, Which Started May 15, Have Spread Across the country gradually. Spaniards overseas aussi Have Held Their Embassies Outside Some protests to show support for Their alternative year campaign has Almost Eclipsed That That Of The ESTABLISHED parties.

More than 34 million Voters Were Called to take part in Sunday elections in 13 of Spain&&9;s 17 regions and about 8.100 Municipalities. Some protest groups called Set for residents to vote for Small and alternative parties, or to cast a blank ballot.

The protest groups, Who Insist optometrist Have no party affiliation, aussi Were Expected to decide whether to continue the sit-ins Their After the election.On Saturday, Barcelona Protesters in Said Would THEY plan major march on June 15, Which Would End Of The Catalan front in Parliament business cards.

The election WAS Expected to result in a countrywide sweep by the Popular Party, The hand center-right opposition, At The Expense Of The governing Socialists, Whose popularity has plummeted Because Of The Economic Crisis. The Most recent opinion polls Suggested thats the Socialist Party Might Lose in Municipalities and Regions WHERE It Had Been In Power Since Spain&&9;s return to Democracy in the late 1970s, notably Castilla-La Mancha.

Results are Expected to Be released late Sunday. Whatever the Outcome, Prime Minister José Luis Rodríguez Zapatero Announced in April That Would not he seek a Third Term.

Like Others Leading Politicians, Mr. Zapatero WAS caught flat-footed by the Spread of the Street protests.

After casting history nerd Sunday morning, He Called Voters are not eligible to turn Their Back on the elections. "A large turnout Would Be The Best result for this electoral day," he said.

The Largest protests Have Been Held in Puerta del Sol square in Hand central Madrid. "The Voice of the People Can Never Be Illegal," Some Of The banners read, while Others said: "We Are Not Against the System But The System is Against us."

Still, The Government Did Not Order the police to use force to break up "any protests and sit-ins in Madrid and Elsewhere Over the weekend, Especially That Given protests last week HAD not generated" any violence.Interior Minister Alfredo Perez Rubalcaba, speaking Düring a visit to The Murcia region, Said That "The Police Are There Problems to solve and not create new ones."

Protests Continue as Spain Goes To The Polls

SACRAMENTO, Calif. - California&&9;s Unemployment Rate has Dropped below 12 percent for The First Time Since August 2009 - another positive sign for the Nation&&9;s economy.

The numbers for April released Friday by The State Employment Development Department show The jobless rate at 9.11 percent. That&&9;s the Fourth month in a row The jobless rate has declined, for The Most Populated state quick guaranteed personal loans.

California aussi year showed Increase payroll of about 8.900 jobs for the Month.

Nationwide, chômage rats Fell in April in 39 states.

California jobless rate dips below 12 percent

Lagonisi, Greece - The European Central Bank&&9;s chief economist Said Greek debt restructuration Would Be a "recipe for disaster" as he blamed "vested interests" in Britain and the United States for fueling market pressure is The Country.

Juergen Stark Told her financial conference in Greece Wednesday Thats the Struggling eurozone country&&9;s "debt sustainability IS Insured" if it fully-icts Compline With Internationally Monitored austerity program.

Asked about The Markets&&9; hostility to Greek efforts, Stark said: "This Is Not the view of all market participants to Be very clear. This is a discussion triggered from London and New York. I do not know What is behind it - vested interests, celebrities topping Their Book and so on.So it&&9;s just more Complicated Than (Saying) What Markets expect. "

Greece&&9;s Socialist Government Was Told By The European Union this week to take urgent Measures to keep icts austerity program on target, as part of ITS Commitments pour la euro110 billion ($ 156 billion) package of bailout loans It Is Receiving from EU Countries & the International Monetary Fund.

The Country Remains frozen out of Bond Market by sky-high interest rats have investors freight Greece That May Eventually Have to restructure debt icts, Which set to top 150 percent of gross domestic product this year.

Stark Said The restructuration option HAD Thought not Been Properly through.

"Debt Restructuring Would wipe out part or all capital of Greek banks," he said."So it Would Be a recipe for disaster."

He urged Greece to "double icts effort" Structural reform is Critics Say That Have Been Stagnating and insisted thats the austerity Measures Would Be Enough To Bring The Country feet back on ITS. "Greece IS solvent. This Is an important message."

Stark&&9;s comments Underlined The Split Among European Officials over whether Greece should "Consider Delaying repayment of crushing debt load icts.Jean-Claude Juncker, Head of the Eurozone Finance Ministers group, Held the Door Open Tuesday To What He Called a "reprofiling" of Greece debt - a voluntary extension of bond maturities payday loans no teletrack.

Another top ECB official, Lorenzo Bini Smaghi, backed up Stark Saying Even a "soft" or stretching out of voluntary repayment would be "Devastating for Overall Financial Stability," According To The Ansa news agency.

"Time" has been "wasted thesis Past Month in the search for a way out, easy solution for years, like The Debt Restructuring," Bini Smaghi WAS quoted as saying. He Said Government failure to pay all Debts icts Would Have "an immediate impact On the banking system."

Officials are Concerned Greece&&9;s problems "could harm Europe&&9;s Economic Recovery by inflicting Losses Elsewhere in Europe there banks hold That Greek bonds.

European Officials are Weighing whether to Give Greece Another bailout.Last year&&9;s rescue loans Were Aimed at The Country Giving Breathing Space so it could "return to borrowing from next year Bond Market.

But It Remains Unable to borrow from private investors was emperor economy deteriorates and it Struggles to Meet the terms of The First bailout.

International debt monitors are Currently in Greece to inspect the Progress of Reforms cost-cutting, and again Greece Warned That Needed to do more work to Avoid sliding off target.

"We are in a situation WHERE If We do not get this acceleration of Structural reform, the (budget) deficit Will get entrenched at Where It Is Now, around 10 percent," IMF monitor Poul Thomsen The Conference Told.

Thomsen Acknowledged bread WAS Unavoidable Given The Country&&9;s massive fiscal adjustment.

"It&&9;s impossible to Deal With a deficit of 15.5 percent of GDP Without Having a recession," he said."People are dreaming If They Think You Can Do This Kind of Adjustment Without Having a recession."

___

Theodora Tongas Lagonisi and David McHugh in Frankfurt in Contributed to this report.

ECB official blasts &&9;vested interests&&9; in U.S., UK

NEW YORK (Reuters) - Nasdaq OMX Group Inc. and IntercontinentalExchange are radié Their bid for rival exchange NYSE Euronext, Saying It Would not THEY Became clear win approval "for the deal from the U.S. Department of Justice&&9;s antitrust division.

Nasdaq Proposed first and ICE to buy the New York Stock Exchange&&9;s parent on April 1, seeking "to thwart NYSE Euronext&&9;s Proposed Merger With friendly Deutsche Boerse AG payday loan.

Nasdaq and ICE Said Monday it optometrist No Longer Planned to go Directly to Shareholders NYSE Euronext.

(Reporting by Phil Wahba; Editing by Lisa Von Ahn)

Nasdaq, NYSE pull ICE bid, cites Regulators

BOSTON (Reuters) - Americans squeezed by high gasoline Prices and Rising Costs for Food and Other essentials are Resorting to simple steps to effective goal Their paychecks stretch a bit Furth.

Cutting back is driving ya une option Obvious to Even non-drivers living Have Seen Costs Rise as Businesses try to pass on The high price of energy and raw materials.

Data on Friday showed gasoline and Food Prices Pushed U.S. inflation to a 2-1/2 year high of 3.2 percent in $ 12-months to April.

Inflation Is A Lot When food and lower energy are stripped out of The Equation, The preferred way of looking at price for Policymakers croissance At The Federal Reserve.Purpose of stripping them out a Household Budget Is Not So Easy.

John Bedell, 38, An Architect Who lives in Boston, Said he has been "Bringing history to work more lunch to save money Often.

Bedell has trimmed aussi historical entertainment expenses - making cuts to cable television package history and borrowing books and movies From The public library INSTEAD of buying &&9;em.

Kim Williams of Boston brown-bagging IS Her lunch Often more too. "I do not shop As Much as I Used to. I try not to eat out as much, and I try to cook," Said Williams, 47, Who works in customer service.

The AAA auto club service is Friday Put The national average price for regular gasoline at $ 3.98 per gallon, up from $ 3.81 a month ago and 38 percent Higher Than a year ago.

Whose bus drivers demand premium gas are coughing up $ 4.25 per gallon is average.

Gasoline and food prices price Were Not the only headache for Consumers last month.Prices for new vehicles rose and increaser for used cars and trucks Were Even steeper.

Americans dig deeper to aussi HAD to pay for medical care last month and Prices for apparel and furniture Turned Higher.

PARK THE TRUCK IN THE BARN

Many Americans Have No Choice aim to drive to work. Still, Some Have to Be Canceled trips, whether to the Shopping Mall or to see friends and relative.

"I&&9;m driving less Internet Payday loans. You do not get to travel to see extended family as much," Said Dave Bennett, 51, of Waltham, Massachusetts. "You can not really do about commuting Much Costs."

Bennett Takes the train to historical job in The Financial Services Industry to drives from home to The Station history. He Expect the price history of rail pass to jump as well.

In Kansas, in the U.S.Midwest, average Gasoline Prices are a little below-the national average, at $ 3.89 per gallon, According to AAA.

That Is little comfort to equine enthusiast and freelance photographer Kathy Wismer, 45, of Baldwin City, Kansas.

It Costs Wismer some $ 90 to fill the Tank of Her pickup truck to haul a horse trailer to and from events.

"The truck IS pretty much parked in the Barn now," she said. Instead, she and Her husband, an Air traffic controller, drive gas-sipping subcompact Their Whenever as possible.

Kyle Robinson, Who Owns a landscaping company, and His wife, Rebecca, a nurse, Were you vacationing in San Francisco Friday. The Connecticut couple Said The trip can only WAS Because They Are Staying With Friends To Cut Costs.

"Between food and gas and oil, are everyday dépenses Much harder," Said Rebecca, 37.

The Robinsons The show The New thriftiness poses conundrum for the U.S.WHERE Economy Small Businesses are Traditionally The engine for job growth.

Every worker Who Makes His Own Lunch "could mean a lost sale for a local sandwich shop. Every Homeowner Forced to cut grass Her Own Means lost business for a lawn service.

"Not as Many People Are Spending Money, It Seems," Said Kyle Robinson, 26. That means "more hours by myself, Fewer employed," he said.

(Reporting by Lauren Keiper, additional reporting by Peter Henderson in San Francisco and Carey Gillam in Kansas City, writing by Ros Krasny; Editing by Kenneth Barry)

Simple Ways to find Americans Tighten Their Belts

NEW YORK (Reuters) - Raj Rajaratnam "could face huge fines and criminal penalties as part of His insider trading conviction, But The hedge fund founder Could Remain a Rich Man Even If He Is Sent to prison for a long time.

As Recently as 2009, Forbes magazine Said The Galleon Group founder WAS worth $ 1.3 billion, tied for 559th in the World.He Fell off the list in 2010.

But The 53-year-old married father of Three wealthy WAS Still Enough to fund a legal defense lawyers not That Involved In The Box Have Many Estimated cost millions of dollars.

Indeed, a single defense witness, a finance professor at The University of Rochester studied Rajaratnam Who&&9;s trades, which a fee $ 200,000, According to Trial Testimony.

A Manhattan federal jury Wednesday there Convicted of 14 counts of Rajaratnam securities fraud and conspiracy, The Biggest in Wall Street insider trading case was sincere 1980s financial scandal chantiers Michael Milken and Ivan Boesky speculator. An Appeal Planned IS, Rajaratnam&&9;s lawyer said.

Rajaratnam IS subject to a potential $ 172.6 million criminal penalty, is based Twice historical earnings of $ 63.8 million is Such stocks as Goldman Sachs Group Inc. (GS.N) and Google Inc. (GOOG.O), and a $ 5 million fine is EACH Of The nine securities fraud counts.He faces a possible aussi U.S. Securities and Exchange Commission civil fine in a box That Remains open.

It Is unclear How Much Money The Sri Lankan-born Stiller Has Rajaratnam. Outside the box goal lawyers not Said Sums Held aside for Government litigation Would go to family history, With Whom he could "communiquer periodically if He Is in prison.

"You&&9;re Not Able to run a business from prison, drank You Can Control Your Personal Financial Affairs," Said Ronald Nessim, a lawyer in Los Angeles and form co-executive director of the American Bar Association&&9;s White Collar Crime Committee.

"I&&9;ve Never Heard of anyone telling a prisoner he can not control His own assets, or appointing a receiver for assets Beyond what&&9;s Necessary to Satisfy a Judgement," he Added.

Rajaratnam "could face a 15-1/2 to 19-1/2 year jail term Under federal sentencing guidelines, Prosecutors said.Lawyers Said he must serve at least 85 percent of "any jail term he gets. There Is No Word In The Federal prison system.

WHITE-COLLAR, BUT NOT MADOFF

U.S. District Judge Richard Holwell set a July 29 sentencing date. The appeals process could "delay has sentencing. Rajaratnam&&9;s Lawyer Said He Will Challenge The Government&&9;s use of wiretap to gather evidence.

The followings verdict, Rajaratnam WAS Ordered Confined at home in Sutton Place history, one of The Most tributary Neighborhoods in Manhattan, and Fitted With An electronic monitoring device easy payday loans.

If Rajaratnam Were Sent to prison, the Federal Bureau of Prisons decided Would Where To HIM house. It Can Choose Among high-security, medium-security and low-security prisons, or unfenced prison camp year.

"It Will not Be a camp," Nessim said.

Lawyers Said Rajaratnam Could Be Placed in a low-security prison Fairly close to home.They Said The prisons bureau Would Consider Factors Such As The nature of crime history, The history length of sentence, The Location of family history, history santé, The harm he did "to Society, And The Fact He Is A First-Time Offender.

Low-security prisons are Typically fenced in. One in Colorado houses form Enron Corp. chief Jeffrey Skilling. One Is Home in Louisiana to train WorldCom chief Bernard Ebbers. Both men ran Companies That collapsed in accounting fraud.

Some white-collar convicts end up in medium-security prisons. Among Them: Ponzi schemer Madoff.

"Financial Criminals Usually end up in low-security prisons," Said Michael Vitiello, a criminal law professor at The University of the Pacific in Sacramento, California. "For Madoff, There May Have Been Other considerations Because Of The Enormity Of The Crime. Madoff Is an arch-enemy for Our Time."

His 150-year sentence est aussi a factor. Madoff IS 73.

"Bernie has in essence a life sentence, So They Will want HIM at a High Security level," Said John Webster, managing director of National Prison and Sentencing Consultants in Nashville, Tennessee.

Educated YEAR MAN

Other white-collar end up in jail Defendants camp, Milken and Boesky Among Them.

And domestic doyenne Martha Stewart, Convicted of obstruction of justice, Spent five months in 2004 and 2005 in a prison camp for women to Some Known as "Camp Cupcake."

While in prison, Rajaratnam Would Likely Be Assigned Such a job as cleaning, gardening, maintenance or working in a kitchen. He could "end up working in aussi a prison library.

Prison Officials Might make use of Rajaratnam&&9;s Three decades in finance, Including His business degree from The University of Pennsylvania&&9;s Wharton School, Said David Berg, a white-collar defense partner at Berg & Androphy in Houston.

"An Educated Man HIM Such as it Will Be Called to Teach Other Prisoners," he said.

(Reporting by Jonathan Stempel in New York, Editing by Gary Hill)

Rajaratnam May Stay Rich Even If he goes to jail

NEW YORK - Nasdaq and IntercontinentalExchange Directly Reached Out To The Shareholders Of The parent company of the New York Stock Exchange in icts unsolicited bid to Acquire The exchange owner.

On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc.. (ICE) Issued a letter to NYSE Euronext Shareholders Saying Thats the NYSE board IS rushing to a vote Them Better Without Exploring alternatives. The Two Exchanges Shareholders Will Hope that we could pressure NYSE&&9;s board to Consider and Nasdaq&&9;s bid for Intercontinental NYSE Euronext Which Is worth about $ 11 trillion.

The parent company of NYSE has Twice Rejected The joint bid from Nasdaq and ICE Saying It Is Committed to icts-Previously Agreed to $ 10 Billion Merger With German exchange operator Deutsche Boerse, despite The lower price.NYSE Shareholders are Scheduled to vote in early July On The Merger With The German company.

ICE Executives from Nasdaq and NYSE That Have Expressed disappointment has Refused to Even Meet with Them to Consider Their Higher takeover bid no faxing payday loans. THEY Have Started aussi year offer to exchange all "jointly ACQUIRE Of The Outstanding Shares of NYSE Euronext for $ 11 trillion.

Theys we hope to build NYSE&&9;s contentious annual meeting on April 28, WHERE Shareholders concerned about perp The Fact That The NYSE board is Not The Higher considering takeover bid.

The letter Sought to Bring Focus on the Regulatory challenges that face The Deutsche Boerse trading in Europe.It cites Dominique Cerutti, deputy CEO of NYSE Euronext, Who Has Said That It Would Take to Win Until March 2012 Regulatory approval "from l&&9;Union européenne.

The letter points out if That The Proposed Transaction Deutsche Boerse IS Approved by stockholders in July, It Would Be Impossible to Consider the viable financially superior PROPOSAL Later.

Nasdaq ICE seek support for bid for NYSE

DOHA (AFP) - Qatar on Sunday Ruled out any "Dramatic" Action By The Organization of Petroleum Exporting Countries to Control Prices, production and supplies insisting That Were any healthy Levels.

Qatar&&9;s Energy Minister Mohammed Saleh al-Sada Told On The sideline reporters Industry Meeting Of An upcoming OPEC meeting Year That Could not Be Expected to make "any major changes.

"We think The fundamentals are fine And We Can not See Shortage of supply. OPEC Countries and Non-OPEC Countries are Producing and Supplying The World and satisfying demands, "he said.

"Clearly The Supply And The inventory level SI healthy level, and we are after The Stability of oil prices."

He Said He Did not expect a free fall in Oil Prices Even though The Commodity Prices Were Currently On The declines payday loan lenders.

Qatar has Received Request for Additional supplies of gas to Japan, Which Is reeling after the March 11 quake and tsunami has crippled nuclear power facility, the minister at the said.

"We Have A Deal With The committee to request of Japan," He Said That They Were Adding Still Working is the exact quantity.

Said The goal he unrest in Libya Would not affect oil supplies.

"Many Countries, Especially from OPEC, Have The Offset Shortfall and It Is Clear That There Is No Shortage in production and supply in the World," Said Sada.

com/s/afp/20110508/wl_mideast_afp/qataroilopec &&9;rel =&&9; nofollow &&9;> Qatar rules out OPEC drastic action on Price

KIEV, UKRAINE - A former Soviet states in Eastern Europe IS betting thats the path Toward Energy Independence May Run Through Fort Worth, Texas.

By drilling in the scrub land and vacant lots in and around the City of Fort Worth, American energy companies Have Demonstrated optometrist Cdn Produce natural gas from shale Economically - a form of sedimentary rock Previously regarded all worthless goal.

Now, despite environmentalists&&9; opposition to the Water-Polluting Potential Of The shale-gas extraction method know as fracking, The Technology&&9;s promoteur are heading Abroad. And Ukraine, Which SITS ATOP tantalizingly wide Shale Deposits, IS eager to do business.

Already this year Ukraine has Opened Talk With Three Western energy giants - Exxon Mobil, Chevron and Shell - to search for shale gas.The Ukrainian Parliament has aussi Passed investor-friendly legislation Aimed at opening icts domestic natural gas market to Shale Gas Producers.

Meanwhile, the Nation&&9;s President, Viktor F. Yanukovich has Signed a shale-gas exploration agreement With The United States and year Reached Agreement With The European Union on energy transport That opens Ukraine&&9;s pipeline system to Western companies.

Along With The energy companies courting it, as shale Ukraine Sees Potentially Altering The geopolitics of natural gas, Russia is Lessening overall reliance and the Middle East. Today, just Three countries - Russia, Iran and Qatar - hold 54 percent of the World&&9;s Conventional gas reserves. IS Goal shale found in Many Other Places, Including Eastern and Western Europe, India, China and Australia.

A 2009 study by The International Energy Agency Estimated That Holds The World Nearly As Much recoverable gas-through new technologies like shale gas, eternels Known as coal bed methane, as Obtained Through the traditional fate by Conventional drilling. The agency Estimated That There Might Be 380 trillion cubic meters of natural gas That Could Be Recovered Through These new techniques, Compared With 404 trillion cubic meters obtainable-through traditional means clustering.

The energy agency has aussi Predicted That unconventionally Produced gas will rise from 12 percent Of The overall total in 2008 to 19 percent in 2035.

Although Ukraine Already Produces Some natural gas by Conventional Means, it Remains Highly Dependent on imports from Russia&&9;s state-owned gas monopoly, Gazprom, The World&&9;s Biggest Producer. Twice in The Last Five Years Gazprom has halted supplies to Ukraine in politically tinged pricing disputes.

And yet, as a legacy of the Soviet era, Ukraine Pipeline Through Which Control the Gazprom natural gas transportation to Europe icts. It Is a mutual dependence at Times That Seems more like a standoff: Russia Has the gas; Ukraine Has the pipes.

By Finding a Great Source of Its Own natural gas, Ukraine Hoping to Reduce Would Be Russia&&9;s leverage&&9;m his relationship.

The Shale Gas Industry, for icts hand, "could erode Russia&&9;s oz Seemingly untouchable monopoly pricing power for natural gas, if The Industry Cdn duplicate Fort Worth-scale results from a belt of shale Deposits in Poland and Ukraine That In Some boxes are lying right Under The Pipeline Carrying Gazprom&&9;s gas.

Right now, Russia Produces about 40 percent of the Natural Gas importé Into the European Union, selling it Mostly Under long-term contracts are linked to That The Price of Oil, Which Has Been Lately soaring.

Gazprom says icts average wholesale price in Europe in The First Quarter Of 2011, The latest figures available, for $ 346 WAS 1.000 cubic meters, or 35.300 square feet. For comparison, The benchmark price for natural gas In The United States At The Henry Hub in Louisiana last month Averaged $ 153.30 pour la même volume.

Ukraine&&9;s national energy company countries 30 percent less Than The European rat Mr. Yanukovich-through year agreement last year to let Signed Russia wears a naval base for On The Crimean Peninsula 25 Years. Goal That Is Still Higher Than The Price In The United States.

"Unconventional Gas Will Be a game changer THROUGHOUT Europe," Said James Hill, vice president of The BNK Petroleum, One Of The Companies That pioneered the Technology In The United States and Is Now Expanding in Europe."We&&9;re the mouse That roared."

ITB Poland Three Years or so ahead of Ukraine in icts Shale Gas Industry, With exploration wells drilled Already payday loan companies. Purpose It Is less sensitive to Gazprom&&9;s monopoly, Because Poland Consumes far less gas Than Ukraine. Poland and less critical IS Geographically pour la transmission of natural gas to Western Europe Than Ukraine, Which transport about 80 percent of Gazprom&&9;s exports to Europe.

Ukraine has oven staff, Largely unexplored Shale Deposits, According to Valerii Berezhnoi, chief geologist for Vikoil, a Ukrainian company seismic exploration Studying Unconventional Natural Gas deposits. Nobody Pretend To Know How Much They Might hold gas. Goal ace energy companies we speculate Ukraine&&9;s potential, They Deposits To The Point That binds Under Fort Worth, Called The Barnett Shale.

Production from Barnett has grown in a decade from nothing to Almost 133 million cubic meters per day.That is More Than The 109 million cubic meters Approximately That Ukraine imports a day from Russia.

Signaling a Shift Toward support for shale gas development, Ukraine&&9;s minister of energy and coal, Yuri A. Boiko, puts With executive of American shale gas companies in Houston this year and has Announced oz sounding far-fetched goal for Ukraine to Become self-sufficient in natural gas.

"We Understand That American science is rich in this field," Mr. Boiko Hearing Told year of the Mostly Western energy company executives at a conference on shale gas in Kiev last month - the first gathering for Such The industry in Ukraine. "We Would Like to ATTRACT this technology, And We Would Like to Attract partners," Mr. Boiko said.

Exxon Mobil, Which unconventional gas expertise bolstered icts With The purchase last June of the American shale gas developer XTO, Signed a Memorandum of Understanding With The Ukrainian Government Earlier this year, negotiations to begin formalizing Exploring or drilling. XTO Was a Pioneer Of The Barnett Shale play Under Fort Worth. Ukrainian Officials are now similar in Talk With Chevron and Shell.

Shale, The petrified mud From The bed of ancient seas, if it IS IS prized stained dark gray or black from organic material imbedded. A shale gas strike has none of the drama of An oil gusher. Drilling core samples teams pull To The Surface. If rich in gas, the rock Will fizz gas in water, like an effervescent tablet bread.

Companies Produce industrial volumes of gas shale-through hydraulic fracturing - or fracking. The process releases natural gas from shale by blasting the rock with Water, sand and chemicals to create cracks Through Which The gas flows.

Because fracking Often Produces waste water laced With toxic substances, it has a target of Environmental Become protests worldwide.

In France, the National Assembly to Debate Scheduled IS A Proposal to ban next week The Practice, as opposition heats up Before a presidential election next year.

So far protests in Poland Have Been small.

Jack Williams, The President of Exxon&&9;s XTO Energy unit, Said at a conference last fall Realizing That&&9;s shale gas potential Abroad Would it depends Addressing Environmental Concerns In The United States. "Getting this right IS vital not just to U.S. jobs and energy supply," Said he, "to aim aussi o Ability to Pursue Opportunities Globally Sami thesis."

Gazprom, meanwhile, has so far Been Silent on Ukraine&&9;s negotiations With Exxon, Shell and Chevron. In Fact The company&&9;s official statement Rarely shale gas in public.A Gazprom Spokesman Identified remarks made in a speech By The chief executive, Aleksei B. Miller to a business convention in Cannes last year, as The Most comprehensive so far.

I&&9;m his talk, Mr. Miller Dismissed as The Technology Environmentally unsound and expensive, and gas shale Said That Would Affect Only the margins of Gazprom&&9;s business - Merely as characterizing shale appetizer year to Gazprom&&9;s main course.

More Recently, shale gas wildcatters At The Kiev conference Said That by Keeping natural gas prices in Ukraine and Elsewhere in Europe Higher Than Gas Prices In The United States, making Gazprom WAS shale exploration in Eastern Europe look All the more profitable.

Clifford Krauss from Houston Contributed reporting.

Ukraine Looks to Shale Gas to Break Dependence on Russian Gas

The organic and natural foods chain Fell 5% to 59.64 after Jefferies Downgraded it, Suggesting That dirty "could stagnate as shoppers feel the pinch of Higher gasoline prices. Higher Fuel Costs Will Raise aussi Whole Foods Market&&9;s (NASDAQ: WFMI - News) transport costs: it said cash advance today. Jefferies Said Its Own survey showed 62% of retailers Thought Were Higher gas prices hurting sales.

Negative view hits Whole Foods

Until recently, the big Threats To The Dodd-Frank Financial Reform law cam from Republican Lawmakers, Who Have vowed to derail it, and from banks and Their lobbyists, Who Are Determined to retain The status quo So Well That enriched Them In The Years Before , and sincere, The Financial Crisis. Now, The Treasury Department has joined Obama Their Ranks.

In one year announcement Friday afternoon - the time slot Favored by Officials eager to Avoid scrutiny - the Treasury Department Said It intende to certain foreign exchange derivatives free from key new règlements "under the Dodd-Frank-law. Thesis derivative represented a $ 4 trillion-a-day market, very lucrative one That Is for the big banks That trade &&9;em.

A loophole in the Law - which report the Bankers and Their Friends, Including The Administration, Fought for - Allow the Treasury secretary to exempt The Instruments.The arguments in Favor of exemption, Beyond a desire to please The Banker, Were Always unconvincing. They Still are. The Treasury Department has Asserted Exempted thats the market is Not as risky as Other Derivatives Markets, and Does not Need Therefor full regulation.

That claim has been "Disputed by research, goal Even If it Were True, It Would Be a weak argument payday loans for bad credit. For instruments to Be Relatively Safer Than The derivatives That Blew Up in the crisis, necessitating huge bailouts, Hardly Makes Them safe. Worse, dealers could "Probably Ways to find MANIPULATO The Exempted transactions so as to hedge and speculate in Ways That IS The Law Intended to Regulate.

The Treasury Department emphasized icts IS narrow exemption and Regulators Will Have the Power to detect unlawful manipulation. In Their Spare Time, Perhaps? The Financial Crisis Made Clear What Happens When Everyone Does not Have to Play by the rules Sami.And made it clear thats the Taxpayers Are The Ones Who Pay The Price.

The department has aussi Said That Because The market works well today, new rules could "Actually Increase instability. Perhaps That Is The Worst of all argument. The ethos validate it antiregulatory That Led To The Crisis And Still Threaten to Block Reform.

The Treasury&&9;s Plan Will Be Open for comment for 30 days. Count us Opposed.

Editorial: Mr. Geithner&&9;s Loophole

OTTAWA - When executives at Research in Motion faced Were With Skepticism last month about The Company&&9;s Ability to Compete Against Apple and Android devices, They Consistently Pointed icts to still-robust performance financière.

That defense is Not looking so solid. RIM BlackBerry phones of The Maker, STI Lowered profit forecast for The Current quarter by 11 percent on Thursday, Sending icts stock down 10 percent More Than in after-hours trading.

The announcement Followed a less-than-positive reception for The Company&&9;s first tablet, tea BlackBerry playbook, Which Was released this month and WAS Meant to Be an answer to Apple&&9;s popular iPad. Critics found the Device That while HAD merit, It Was shipped Without SEVERAL major features and minor WAS troubled by Software Problems, Suggesting That It Was A Rushed job.

Düring a Conference Call with analysts, Jim Balsillie, the Co-chief executive of RIM, dirty playbook Said Were Within The company&&9;s expectations, goal He Did not Provide Any Specific figures.

Mr. Balsillie Attributed The earnings downgrade to a problem That Was The Opposite Of The Playbook&&9;s: Delay in Introducing new BlackBerry phones. While The Dirty Said company of lower-margin, less Costly BlackBerry phones Remained strong, and Shipments of dirty icts more profitable flagship models Were swiftly Declining In The United States and Latin America.

Mr. Balsillie next week Said That The Company Would unveil a Variety of new phones "at its Annual Trade Show That Would it allow renewed market share against-the iPhone and phones running Google&&9;s Android software in the high end of the Market.

"The entry-level products do a fine job for us," Mr. Balsillie said."Goal weekends aussi thesis Need higher-end, newer products and We Need Them In The Market payday advance online."

RIM, Which Is based in Waterloo, Ontario, Said It Expected to post diluted earnings of $ 1.30 to $ 1.37 a share When The Quarter Comes to a close at The End of May. Late in March, it forecast profits of $ 1.47 to $ 1.55 a share.

Shaw Wu, analyst With Sterne Agee year in San Francisco, RIM&&9;s dirty Said In The United States for five consecutive HAD fallen quarters. Growth in overseas markets and in Canada, He Said, HAD Been Offsetting That trend.

"Now we&&9;re Concerned Thats the International Growth Will Slow to start," Mr. Wu said.

At one point Mr. Balsillie Gently mocked Critics The Playbook Who found to not be "all polished" and no one HAD Argueda That Disputed The Potential Of The device capabilities.

The Playbook Introduced a new operating system for RIM That Allowed it to make device with features similar to Those Found on the iPhone and iPad while aussi Supporting Adobe Flash software Which Is Widely Used for video on the Web view is not supported by Apple&&9;s mobile products .

RIM plans to use operating system in icts That new phones, Mr. Balsillie Suggested Something Which Was a factor in The Delays.

That Said Mr. Wu while he RIM Expected to again offer competitive products, re-establishing The Company&&9;s form prominence In The smartphone market Would Be difficulties and take time.

"When you do a transition like this, it Creates Hiccups," he said.

Shares of RIM rose 1.8 percent to close at $ 56.59 in regular trading. In after-hours trading, it Dropped as low as $ 50.21.

BlackBerry Maker Cuts Its Forecast

GENEVA - Swiss bank UBS AG Reported a smaller-than-expected 18 percent drop in first-quarter net profit Tuesday as The Strength Of The Swiss franc ate ??Into overseas profits, and customer Said HAD Improved money inflow.

Net profit to 1.81 Dropped one billion francs ($ 2.05 billion) from 2.2 to one billion francs Earlier year, while Operating Income Fell 7 percent to 8.34 one billion francs.

UBS, Which Does Much of business icts Outside Switzerland, Said the U.S. dollar worth about 15 percent WAS less "during the first Three Months of the Year Compared With The Same Period in 2010.

"We&&9;ll continue to see That effect for Some Time," John Cryan, The bank&&9;s chief financial officer, Told reporters.The year-on-year difference in April about 20 percent WAS, he Added.

The results beat analyst expectations for lower earnings Even In The first quarter, as year-ago profit Were Boosted by Exceptional factors.

This, Together With healthy inflow of customer money everywhere EXCEPT Europe, UBS shares 5.6 percent Lifted to 17.52 francs ($ 19.96) On the Zurich exchange.

Net new money - an important indicator of future business - Increased by 22.3 one billion francs.UBS Chief Executive Oswald Gruebel Saw The figures "Confirming The Return of client trust and confidence."

Reported net outflow UBS has 18 trillion of France in the first quarter of 2010 faxless payday advance.

Analysts at Zuercher Kantonalbank Praised The Turnaround, thats the goal Noted Unexpectedly strong improvement in net new money down to lower WAS Largely Withdrawal outflows.

UBS aussi Improved margins in UBS&&9;s wealth management business Beyond Expectations, THEY SAID.

The Zurich-based bank Played up 7 percent icts Improved Compared With The profit last quarter of 2010, Citing Higher Income from trading icts investment banking unit.Purpose UBS benefited aussi To The tune of 150 million francs Some Freeing up from reserves set aside for It Had Lawsuits and Regulatory Exchange.

UBS Said It Expects volatile currency exchange rates due to Europe&&9;s sovereign debt crisis and Economic turmoil in the Middle East and Japan to offer attractive investment opportunities in The Second Quarter.

Will Increase Costs, too, did The Bank fights to stop staff from defecting to top The Competition. Cryan Said Increased base salaries by 5 to 10 percent.

Observers Have Questioned The Bank&&9;s mid-term target of annual net profit of 15 billion francs in Light of Greater Regulatory DEMANDS in Switzerland.

Cryan UBS Said That figure stands by.

"We&&9;re not deviating from our targets today," he said.

UBS Q1 profit down 18 pct cash inflow to Improve

OSAKA, Japan (Reuters) - Nintendo Co Ltd Will launch a Successor to icts Wii game console in 2012 as it hit New Seeker games platform to reverse a fall in profits after seeing users lured away by rivals Microsoft and Sony.

The Maker Of The DS handheld games, Which Is Battling a fall in sales and profits, Said It Will unveil a prototype of the New Wii in Los Angeles on June 7 At The E3 game show.

"Aces For the details of EXACTLY What It Will Be, We Have Decided That It Is Best to let people experience it for Themselves at E3," Nintendo CEO Satoru Iwata, Told a news conference on Monday.

"So I will not talk about Specific details today, But It Will offer a new way of playing games Within The Home," Said Iwata, a game designer form.

Nintendo aussi Reported icts second straight fall in Annual profit as demand for Wii games console, Which Has sold 86 million units sincere Launching in 2006, Slowed And The March 11 earthquake Spending curbed Japanese consumer.

Intent is catching Up With Nintendo, Microsoft and Sony Have sincere Brought new products to The Market to take on Their Successful more competitor.

To split of Increased Competition from Other console makers and game makers of smartphones Including Apple Inc. has Launched Nintendo glasses-free 3D games-capable handheld device, The 3DS, cette année instant payday loan lenders.

In the business year just ended, Wii console sales Fell to 15.1 million units from 20.1 million a year discussed earlier.It Expects sales to fall by 2 million units A Further business this year.

Sales of non-3D icts DS handheld Shrank by Almost 10 million units to 17.5 million, and The Company Expects That to slide to 11 million this term.

Nintendo &&9;operating profit 52 percent to 171.1 Fell one billion yen ($ 2.09 trillion) in the Year ended in March from 356.8 one billion yen The previous year, below a Thomson Reuters SmartEstimate one billion yen of 200.8.

SmartEstimates put more weight on Recent forecasts by analysts Highly rated.

Nintendo Expects operating profit of one billion yen 175 for the Year to March 2012, Compared With A consensus of one billion yen, 215.8, is based analysts polled by Thomson eight Reuters I / B / E / S after the March 11 disaster.

Nintendo shares closed up 0.9 Percent Ahead of the earnings report was flat in Broad Market.

($ 1 = 81.845 Japanese Yen)

(Writing by Anshuman Daga; Editing by Lincoln Feast)

Nintendo to launch new Wii in 2012 as profits slump