* Vietnamese robustas at premiums to London
* Sumatran beans at premiums of up to $70 despite harvest
* Liffe down 7.5 pct from this year's peak
By Lewa Pardomuan
SINGAPORE, June 14 (Reuters) - Robusta beans in top producer Vietnam were offered at premiums again after sellers held back their stocks and waited for London futures to rebound further, while high prices in Indonesia curbed trading, dealers said on Thursday.
Vietnam's robusta grade 2, 5 percent black and broken was either on par or at premiums of $10 to London's September contract, having been quoted at $20-$30 below Liffe earlier this week and at discounts of $20 last week.
Cherries have begun to appear in coffee trees ahead of the next harvest later this year in Vietnam, but farmers and exporters still hold some quantities of coffee from the previous crop, which they may want to sell when they need extra cash.
Vietnamese beans were last quoted at premiums to London in February.
"I think they will sell the coffee when they want to. It's difficult to say, but I think there are around 300,000 tonnes of coffee left from the last crop," said a dealer in Hong Kong.
"You can find coffee in Vietnam but it's difficult to buy beans in big quantity. Indonesia was very aggressive to sell in the past week, but I think people will still continue to buy Vietnamese beans."
Robusta futures on Liffe edged higher on Wednesday, with September ending up $29, or 1.4 percent, at $2,099 a tonne, but prices were still well below a 8-1/2-month high at $2,269 struck in late May.
Not to be outdone by Vietnam, exporters in second-largest robusta producer Indonesia offered Sumatran grade 4, 80 defect beans at as high as $70 premiums to London futures from discounts of $10 last week.
Vietnam and Indonesia account for nearly a fifth of the global coffee output in the current 2011/2012 crop, according to the International Coffee Organization.
"European roasters are quiet at the moment. We offer beans at $20 to $70 but there are no deals. I heard Nestle was in the market last week to buy around 10,000 tonnes but I am not sure if there were deals," said a dealer in Singapore, referring to the world's biggest food group that makes Nescafe coffee.
"Daily arrivals are steady at around 1,500 to 2,000 tonnes."
The harvest in Indonesia's main producing island of Sumatra started at the end of January and may peak in June, while the next crop in Vietnam is expected to start in October or November in the Central Highlands coffee belt.
WEEKAHEAD
Beans in Vietnam and Indonesia could be offered at premiums next week if London futures stay at the current levels because of pressure from other markets ahead of a make-or-break Greek election.
Coffee output from Vietnam's current 2011/2012 crop would reach 20 million bags, up 2.7 percent from the previous season, the International Coffee Organization said, raising its estimate by around 9 percent from 18.3 million bags previously. (Editing by Ed Lane)
Source: www.reuters.com
London 2012 set to be delivered under budget - sportbusiness.com
The figures were released as the government published its final quarterly economic report before the Games commence next month. The anticipated final cost of the Olympic Delivery Authority’s (ODA) construction and transport programme is £6.761 billion – a decrease of £16 million on the previous quarter. Savings made by the ODA up to May 31 this year have now topped the billion pound mark in total, reaching £1.004 billion.
The £9.298 billion budget, which included a £2 billion contingency, was set in 2007 and was almost four times the estimated cost at the time London won the right to stage the Games in 2005. The remaining contingency money is expected to be ploughed back into the UK Treasury’s coffers. Secretary of State for Culture Olympics Media and Sport, Jeremy Hunt, said: “With only 44 days to go before the Olympics it is fantastic news that there is still £476 million of contingency funds left. Britain has proved that not only can we put on a great show for the world to watch like we did with the Jubilee but that we can also deliver big construction projects on time and on budget.”
The Olympic Park and Village were transferred from the ODA to the organising committee (LOCOG) in January, to allow them to prepare the venues for staging the Games. The government said funding made available to LOCOG has increased by £29 million in the quarter, as a result of these transfers from the ODA, and for additional infrastructure works. Additional funding of £19 million has also been made available to improve crowd management and public information in central London and the ‘last mile’ – the distance between transport hubs and Games venues. This will include additional stewards and crowd flow measures.
The remaining balance of contingency within the public sector funding package now stands at £388 million, with an additional £88 million available to the ODA in programme contingency to cover assessed risks - both ahead of the Games and for post-Games work. Minister for Sport and the Olympics, Hugh Robertson, added: “With a matter of weeks to go until London 2012 we are in a strong place. The transformation of the previously contaminated land into the Olympic Park on time and under budget is a great success story for UK plc. I would like to thank all those who have worked so hard to deliver this project in such an exemplary manner. We can now look forward to a summer of sport built upon the firm foundations set down by the ODA, LOCOG and everyone else involved in the project.”
Source: www.sportbusiness.com
Grimsby is 'logical place' - Hull Daily Mail
GRIMSBY'S eagerly awaited Morrisons seafood production facility could be just the start of a prosperous relationship between the supermarket giant and the town.
Major training initiatives for retail and factory staff are being explored as work continues at pace on the Europarc site.
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WELCOME: Wynne Griffiths, left, welcomes head of seafood for Morrisons Frank Green, and managing director of seafood manufacturing for Morrisons Howard Sims, right, to the Humber Seafood Institute on the Europarc, Grimsby. Picture: Jon Corken
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FOCUS: Seafood is a big focus of supermarket chain Morrisons.
Frank Green, head of seafood for the Bradford-based retailer, met senior figures from the town's super cluster this week, following up a meeting with Humber Seafood Institute chairman Wynne Griffiths CBE at the European Seafood Exposition in Brussels in April.
And the senior executive underlined the importance of fish to Morrisons, while making it clear that Grimsby shouldn't just focus on what it can offer in seafood, as the "Market Street" fresh produce element of nearly 500 stores are further enhanced.
Mr Green, a former Young's account director when Mr Griffiths was at the helm at Ross House, said: "I worked in Grimsby for ten years and had a smashing time, and it is the logical place for a retailer to open a fish business. The whole reason why we are here is the next step in development of a better store.
"My brief is the wider Morrisons brand, and how the factory fits in, how we can source directly and what products go into what type of processing and, most importantly, how we sell products to customers.
"Year on year we want that to improve and that is quite a challenge for us."
Morrisons is the UK's second biggest food manufacturer, having enjoyed success with the ownership model of production, particularly in bakery and butchery lines.
Seafood is the next component of that, with a clear focus.
Talks were held about the potential to train 500 fish counter managers here, in what would be a 26-week course, with scope to bring more than 1,000 fish counter staff together in the town to talk through the new push on fresh fish.
Mr Green said: "We are looking at how we can use the resources in this area.
"This is the seafood cluster for the UK, and part of the visit is how we find ways of improving our capability, and particularly those of our fishmongers, through training.
"We take this really seriously, it is part of our craft position as a retailer. Our point of difference is the in-store craft skills. We have fully trained butchers, bakers, cheesemongers and fishmongers. It is the experience that becomes a function in the store.
Mr Green was told how Young's Seafood got more than 1,600 employees to NVQ standard working with Grimsby Institute.
Tesco also trains fishmongers here, with 600 staff in the process of completing two residential units which involve five days in the town.
While not confirmed, Mr Green and industry officials were positive about the opportunity.
"There is competition, but I know Grimsby well, I worked for a great business here and understand the area," Mr Green said. "We should not see this just as seafood, but a dimension of food manufacturing. This should be a natural hub, providing we can get it done. It has great facilities, great infrastructure. All of these things make the area more amenable."
On schedule to open in early September, the former Kwoks ready meals factory is currently being transformed to include several production lines for white fish, salmon and shellfish.
Mr Green said: "We are on schedule to open on September 3. The next four to six weeks are very important, but work is starting to take shape."
Source: www.thisishullandeastriding.co.uk
Get off Hampstead Heath! What point does Occupy London hope to make by setting up camp on a park open to rich and poor alike? - Daily Mail
By Anna Maxted
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Occupy London are determined to protest against the City of London Corporation, so today they set up camp on that ugly symbol of elitism and privilege, Hampstead Heath.
Sadly, in another victory for the overarching forces of international capitalism, the park's police escorted them off the premises just after teatime.
I've lived near the Heath all my life and it's one of the most serene and beautiful areas of the capital; one of the few that you don't need money to enjoy. When Karl Marx lived in London, he loved to visit with his family. Kenwood House - part of the estate bestowed to the nation by that privileged toff Lord Iveagh in 1927 - may look tatty on the outside, but if you nip inside (donations are voluntary) you can show your five-year old a Gainsborough.
A privilege to be there: When you're on Hampstead Heath, your status, your bank balance ceases to matter
I was there this morning, beaming at the exquisite views of the City, breathing in the delicious air, marvelling at the gorgeous profusion of green, along with various other capitalist pigs (an old lady on a Zimmer frame, an artist, a young photographer, an elderly man walking his dog, a young couple with a newborn...)
Eventually I spotted the Occupy London set, trudging along the sun-dappled paths, squinting at their maps - though they were hardly obvious: none of the people wandering around the Heath this morning were head-to-toe in Dior.
They set up camp in the Vale of Health (convenient for Hampstead High Street; Starbucks, Tesco Metro and Gap). One doesn't have to eschew all trappings of commercialism to make a huffy point against capitalism - I don't expect them to scrape for nuts and berries and live on rainwater - but this exercise was little more than a hypocritical student jolly.
Trespassers in tents: Will we soon see scenes like this, outside St Paul's last year, on the Heath?
I feel aggrieved at the wretched difference between wealthy and poor - but I feel as aggrieved that these protestors were so witless as to think that they were doing the less privileged a favour by camping out - with their litter, and worse, judging from the mess they made of St Paul's - in the one place that is an oasis of peace, and serenity - and free to those who have everything and nothing alike.
When you're on Hampstead Heath, your status, your bank balance ceases to matter. You feel privileged to be there. You feel rich. Until you chance upon a massive bunch of trespassers in tents, and then the Heath loses its magic, and your carefree ramble becomes yet another irritating, slightly depressing exercise in trying to enjoy London despite it being stuffed full of sociopaths and egotists.
Truly, harassing a bunch of dog walkers is not a valid form of protest against bankers. It was facetious, brattish; bullying. If they wish to get their point across in a democratic manner, they have civilised options - from blogging to, hmm, politics - but they made the laziest, most slovenly choice: to make a nuisance of themselves and inconvenience, oh, just everyone. A minority, imposing their selfish will on the majority, is nothing less than tyranny.
Exquisite views of the City: Misty view over London from Hampstead Heath
They claimed that they wanted to 'reach out to the community about shared concerns'... I can tell you what the community's main concern was today - that a bunch of pseudo-crusties had illegally pitched their luxury tents in a public beauty spot. (Hampstead Heath's by-laws forbid 'the training of whippets,' 'the beating of carpets,' and 'Persons in an Offensive, Filthy Condition.' And no camping, either.)
One of OL's excuses was that fans of the Heath ponds were 'up in arms' about the recent outrageous decision by the City of London to charge a couple of quid for a swim. My husband has swum there for years, occasionally with our 10-year old son, and says that most who use the pond have no objection - if they want a lifeguard, and basic maintenance, they see it makes sense to contribute a little.
As far as I can tell, this protest was a feeble excuse for a spot of glamping. If they are genuinely serious about protesting against capitalism, I suggest they occupy Legoland: nearly 200 on the gate, for a family of five. However, if they prefer to occupy a green space owned by the City of London, why not try West Ham Park? It has all the traditional trappings of privilege (children's playground and so on.) Or are the views not spectacular enough?
Source: www.dailymail.co.uk
London 2012 Olympics: Games promise to be poetry in motion as event's success is measured by the metre - Daily Telegraph
One hopes that such virtues can be ascribed to the Greek ode that Johnson has commissioned especially for the Olympics from Armand D’Angour, fellow in Classics at Jesus College, Oxford.
The ode itself is, as per Johnson’s instructions, to have the lightest of touches: six stanzas in Greek that all offer puns’ on athletes names.
For those who question whether this is an exercise in the Mayor’s personal amusement – Johnson, an Oxford classicist himself, once said of becoming Prime Minister: “Were I to be pulled like Cincinnatus from my plough, then it would be an absolute privilege to serve” – there will, mercifully, be a translation into English.
From the moment D’Angour’s creation is read out at the Royal Opera House on July 23, at a gala welcome for the International Olympic Committee, there will be no escaping the literary dimension of these Games.
The ritual imitates a tradition of the ancient Olympic Games, where poets including Pindar would compose odes in honour of victorious competitors.
Such was the symbolism of the Olympics’ restoration to Athens in 2004 that D’Angour offered this suitably Pindaric contribution:
Blessed precinct of the land of Athena
Immortal City of Theseus and the sons of Erechtheus
We will sing of you, whence Athenians of old
And heroes once set forth to the Games
Of shining Olympia.
You might be inspired, upon absorbing these soaring words, to study the intricacies of Pindar’s dithyrambs in greater depth. You might, equally, be tempted to disregard them as the intellectually aloof scribblings of a remote academic.
But on the second count, you would be misguided. For poetry, and the celebration of artistic merit, has remained enshrined in the Olympic movement to an extent that few in its modern incarnation appreciate.
From 1912 to 1952, Olympic medals were bestowed for works of art reflecting sport across architecture, literature, music, painting and sculpture.
The story-makers in London this summer would do well to contemplate the deep cultural immersion of their forebears and the fact that, in the capital in 1948, it was possible for Finland’s Aale Tynni to win literary gold for her lyric poem Laurel of Hellas.
The notion that the rich sweep of poetry could inform a present-day Olympics is not so anachronistic.
Indeed, it was the innovation of Pierre de Coubertin, deemed to be the father of the modern Games, to incorporate art competitions into the Olympic programme.
Ever the virtuous pedagogue, De Coubertin was the son of an artist whose works featured in the Parisian Salon, and his obsession with giving the Games a broader edifying purpose grew all-consuming.
In 1904, he decreed: “In the high times of Olympia, the fine arts of were combined harmoniously with the Games to create their glory. This is to become reality again.”
It did seem a trifle skewed, though, that he should have claimed the gold for literature himself in 1912 for his poem Ode to Sport. Silver and bronze were not awarded.
But the legacy bequeathed by his poetic preoccupations is a positive one. Quite apart from D’Angour’s experiments in the metre of Pindar, the anticipation of these Olympics is stirring a national revival of perhaps the purest of art forms.
In the seaside Norfolk town of Wells-next-the-Sea, a group of residents have prepared for the torch relay next month by composing an ode of their own, entitled Going for Gold.
From Wordsworth’s affection for cricket to John Betjeman’s A Subaltern’s Love Song, a hymn to the rhythms of tennis, poetry and sport have been inextricably intertwined.
The impending Olympic narrative promises the strengthen the connection like never before.
Source: www.telegraph.co.uk
Olympic torch: London venues revealed - BBC News
London's most famous landmarks will be visited by the Olympic flame on the day before the opening ceremony.
On 26 July, the torch will be carried from Camden to Westminster in the final stages of the Olympic flame's journey through every London borough.
Torchbearers will visit venues including Buckingham Palace, St Paul's Cathedral and Shakespeare's Globe Theatre.
London 2012 Seb Coe said the venues were "iconic".
The 175 torchbearers will carry the flame through Camden, Islington, City of London, Southwark, Lambeth, Wandsworth, Kensington and Chelsea, Hammersmith and Fulham and City of Westminster on day 69.
Lord Coe said: "The penultimate day of the Olympic Torch Relay is set to include many of London's iconic landmarks which are famous around the world and give the city its special character.
"I hope that the people from these boroughs come out and line the streets to cheer on the torchbearers as the start of the Games draws near."
The first torchbearer of the day will begin with the flame outside the Roundhouse in Camden, which will be followed by a journey along the Regents Canal on a barge and then a visit to a community event at Granary Square.
The flame will visit the giant Olympic rings in the Eurostar terminal at St Pancras International and then a community event at Islington Town Hall featuring music from the London Symphony Orchestra.
In the City of London, the flame will visit St Paul's Cathedral, the Museum of London and the Guildhall.
It will then be carried across the Millennium Bridge into Southwark where it will visit Shakespeare's Globe.
In Lambeth, the flame will pass Clapham Common and in Wandsworth it will pass Battersea Dogs Home.
Other venues include the Royal Hospital Chelsea, home of the Chelsea Pensioners, the site of the 1908 Olympic Stadium in White City, Trafalgar Square and Downing Street.
Cauldron litBefore arriving in Hyde Park, the flame will visit Buckingham Palace.
Due to the expectation of large crowds, some areas will have limited capacity.
Mayor of London Boris Johnson said: "As the Olympic flame takes its final strides around some of the capital's most historic and famous sights there couldn't be a better opportunity for Londoners to come out and demonstrate their support for the Games and show to the world the best our great capital has to offer.
"We kicked off this incredible summer like no other with the huge success of the Queen's Jubilee and as the flame makes its way to the magnificent Hyde Park for its final night we can show the world that not only are we ready to host the most exciting Games ever held but that Londoners are already reaping the benefits and will continue to do so for many years to come."
At the end of the day, there will be an Olympic Torch Relay Finale concert in Hyde Park headlined by rapper Dizzee Rascal, featuring The Wanted, a special performance by Mark Ronson & Katy B, Eliza Doolittle, You Me At Six and Rizzle Kicks.
Towards the end of the eight-hour show, the last torchbearer of the day will light a celebration cauldron on stage at the event, enabling the Olympic flame to be seen by the audience.
Source: www.bbc.co.uk
- hazel, London, UK, 13/6/2012 21:24 - Go back to the Guardian website; we don't do childish, spoiled and uninformed pseudo-socialism here. The OL are a bunch of lazy, smelly spoiled brats who if it weren't for mummy and daddy would be stacking shelves!
- Horatio , London, 13/6/2012 21:49
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