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No progress at Geneva trade talks - US blames EU
Geneva: The EU, United States, Brazil, India and Australia failed to break a deadlock on Wednesday in their ongoing negotiations for a global pact. The United States trade representative blamed the Europeans for the setback.

The European Union has been under pressure to make concessions and open up its farm market, but negotiators said Brussels had made no new proposals.

The countries were meeting in a bid to bridge differences that stand in the way of a draft trade treaty being agreed in December. Many of the differences relate to farm trade.

A spokesman for EU trade commissioner, Peter Mandelson, acknowledged that the EU had put nothing new on the table and also said that without further movement there will be no chance of a global deal in December.

Brazil and India, representing the G20 developing country alliance, and Australia had presented new ideas on how to deal with tariffs on the most politically sensitive areas of farm production and they had to be studied, an EU diplomat said.

The EU trade representative Mandelson, already put under the scanner by France, the main beneficiary of EU agriculture subsidies, went into the talks under pressure not to give more ground on farm issues.

The United States seized the initiative at the WTO negotiations last week with an offer to cut a ceiling for its lavish farm subsidies. Washington says the EU must respond with deep cuts to farm import tariffs.
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TUI's take over CP Ships to make it fourth largest shipping operator in the world
Hanover, Germany: Germany's TUI AG said Wednesday 89.1 percent of CP Ships Ltd. shareholders have accepted TUI's US$2bn takeover bid.

Together, the companies operate 139 ships, with another 17 on order. When the deal is finalized, after regulatory approval from various national agencies, the merged company will become the fourth-largest shipping operator in the world.

CP Ships is incorporated in St. John, New Brunswick, with its corporate management based at Gatwick, England.
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Daddy's day out: Paternity rights plan sparks row
London: Businesses in the UK have reacted angrily to government plans to give fathers the right to three months' paid paternity leave, and have warned of an "administrative nightmare" that would impose significant cost pressures on companies.

The row was sparked off following the publication of the work and families bill, which increases employees' rights to parental leave, part-time working and paid holidays.

Under the proposals, a new father could get an extra three months' paid paternity leave, on top of the current fortnight, if his partner chooses not to take all her nine months' paid maternity leave. The proposed paternity rights, which will allow parents to trade leave with each other have raised questions from business about who would police and administer the new system.

The British Chambers of Commerce warned small businesses were being "swamped" with the unprecedented pace and extent of new employment laws.
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